The Business Times, 18 June 1994
1994-06-18
1
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The Business Times
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Title Section13 1994-06-18 1 Business Times MITA(P) 010/12/93 Weekend Edition, June 18-19 1994 WE KNOW ASIA 75*13 words
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Article, Illustration570 1994-06-18 1 Paul Leo - By Paul Leo SINGAPORE It's been so quiet in the foreign exchange market that banks here are likely to report sharply lower profits from forex trading this year, industry sources say. "I don't remember such a long period of quietness in my 10Source: Bloomberg - 570 words
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433 1994-06-18 1 Bernama KUALA LUMPUR The Malaysian economy grew at a rdbust 8.6 per cent in the first quarter of this year against 7.6 per cent in the same period in 1993, says Deputy Prime Minister and Finance Minister Anwar Ibrahim. The strongerBernama - 433 words
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Article, Illustration312 1994-06-18 1 Conrad Raj - By Conrad Raj SINGAPORE A Las Vegas company is gambling that it can make a lot of money by cashing in on the publicity over the caning of American teenager Michael Fay by selling canes in America. In an advertisement in312 words
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363 1994-06-18 1 A J Leow - By A J Leow SINGAPORE Main board debutant Liang Huat Aluminium, whose tender shares were undersubscribed in its initial public offer, finished its opening day on the stock exchange yesterday at 63 cents or 10.53 per cent above the strike363 words
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421 1994-06-18 1 ShivTaneja - By ShivTaneja SINGAPORE The Central Provident Fund announced yesterday that it will introduce a procedure on July 1 to allow members to withdraw future capital gains from the sale of shares they had bought before Oct I, 1993.421 words
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2am LATEST
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Article120 1994-06-18 1 Bloomberg Business News Reuter, NEW YORK Wall Street stocks fell sharply at midsession yesterday as a surge in commodity prices pushed in-flation-sensitive long-term interest rates higher. At Ipm EDT, in the broader market, declining issues led advances 11-7 on New York Stock Exchange volume of 250Bloomberg Business News; Reuter, - 120 words
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73 1994-06-18 1 Reuter NEW YORK The Commodity Research Bureau index of 21 commodity futures steamed ahead yesterday propelled by soaring precious metals, soybean and grain prices. This is a very dramatic surge in commodity prices and the "gains are for real", said John Murphy,Reuter - 73 words
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Article159 1994-06-18 1 Stock Market indie** Friday Change STI1 2,306.23 +18.89 KLSEComp 1,038.04 +5.65 Nikkei 21,503.30 +135.83 Hang Seng 9,113.96 +91.04 SET Index 1,370.53 +6.09 Jakarta Comp 476.54 -0.59 CLSA China B ....1,057.66 -1.46 Aust All Ord 2,051.2 -4.8 FTSE 100 3,022.9 -7.2 Friday Preriow 2 pm close Dow Jones 3,786.29 3,811.34 Average159 words
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Page 1 Advertisements
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Advertisement12 1994-06-18 1 fll Ng Teng Fong raises YHS stake to 19.76 pc, Page 612 words
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Advertisement7 1994-06-18 1 Lifestyle Cover Story: el i Conservation Bargains7 words
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Advertisement9 1994-06-18 1 Stocks: el 4 /y Getting high on Thai stofe9 words
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Advertisement184 1994-06-18 1 Pg6 Is Tehaga over-stretched? Asia's Corporate Giants: el 3 wj MD John Prescott I discusses bhp s global push Dollar report, Pg 10 Ml B<T *****1******2 Details of scheme, Pg 2 Rhapsody in Blue hand-enamelled L«. 7.£ in blue, green, red jS and white (IF W IB f?s s Hp184 words
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Advertisement38 1994-06-18 1 M«n CcapMte* S"pore News 2 S porMfsa 6.7 Reponat News 3.4 frnnl 110 WorH 4.5 FMlws Opmons £12 Oob/KLSE. SES 14-16 PI £1.4.5 feron* 12 Renews EL 6,7 *<x* 12 Sports Eli Cannon 10 TV/Rafc ai2 Smß/Comno 1138 words
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SINGAPORE NEWS
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Article, Illustration369 1994-06-18 2 Juliette Walker - Reports by Juliette Walker THE Singapore economy looks set to grow 8 to 9 per cent this year, the Singapore International Chamber of Commerce (SICC) said yesterday. The forecast outstrips government predictions of 7 to 8 per cent growth in369 words
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213 1994-06-18 2 THE growing regional presence of local manufacturers is a promising sign that Singapore's external economy is expanding. Trade and Industry Minister Yeo Cheow Tong said yesterday. A quarter of the members of the Singapore Manufacturers' Association (SMA) now have operations or213 words
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192 1994-06-18 2 US-BASED Exxon Chemical Company has chosen Singapore as its regional headquarters for the Asia-Pacific. The regional president will be Timothy Hearn, who will head a management team of 10. He will be the key contact for governments and industries. Mr Hearn will also look192 words
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226 1994-06-18 2 SMOKING will be banned from July 1 on SIA flights between Singapore and the west coast of the US and Seoul, except those linked to Vancouver. The services affected arc Singapore-Hongkong-San Francisco, Singapore-Taipei-Los Angeles, Singapore-Tokyo-Los Angeles and Singapore-Seoul, Singapore Airlines226 words
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630 1994-06-18 2 THE CENTRAL Provident Fund announced yesterday that those members wanting to withdraw future capital gains for shares bought before Oct 1, 1993, will have the choice of transferring all or just some of their share counters from the Approved Investment630 words
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Article, Illustration340 1994-06-18 2 Corinne Kerk - By Corinne Kerk HONGKONG conglomerate Wheelock and Company may boost the percentage of its business in Asean to about 10 per cent of total assets and set up another 200,000 to 250,000 sq ft of retail space in the region. At yesterday'sPhoto by Arthur Lee - 340 words
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Page 2 Advertisements
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Advertisement87 1994-06-18 2 BUSINESS TIMES TOLL-FREE TEL. No. 1-80Q-741-1883 FAX: 741-1298 EXHIBITION SALES MANAGER Dubai is the gateway to the Middle East market and has established itself as the exhibition capital of the region. A leading exhibition organiser seeks to appoint a Sales Manager to control a successful and growing business. A substantial87 words
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Advertisement29 1994-06-18 2 PORT SHOTS The latest in u sea, air and vl ,and trans P ortation Shipping Times Monday to Friday SIN«'.AHOH t r I 1 Business Times WE KNOW ASM29 words
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Page 2 Miscellaneous
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Miscellaneous529 1994-06-18 2 Singapore: Snowers over 3 few areas n ate morning 3- d ean> Temocature range 26 33 »di Pk> NVU* Cm*. iarap* (ti/U 1 Cmml. Buenos taw 15/13 Showers Auctaarxi 15/10 Cloudy Amsterdam 20/09 Clear CNcago 33/19 Cloud* Bangkok 33/27 Clear «Mm 33/18 Clear Honolulu 30/24 dear tap* 32/22 Clear Bertn529 words
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THE REGION
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420 1994-06-18 3 Teh Hooi Ung - By Teh Hooi Ung SINGAPORE A taskforce of experts from the Hongkong and Shenzhen stock exchanges has been formed to look into cross-listing companies. Yu Guogang, deputy chief executive of the Shenzhen Stock Exchange, said in New York this week that shares could420 words
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294 1994-06-18 3 Bloomberg Business News BEIJING To mend confidence in its slumping stock markets, China will force managers of companies preparing to issue shares to take an examination about stock market rules. The China Securities newspaper said yesterday that company directors, presidents and general managersBloomberg Business News - 294 words
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480 1994-06-18 3 Reuter HONGKONG The Hongkong government, having tackled soaring residential property prices, is turning its attention to office costs, but analysts are divided on whether the authorities have any business there. Some analysts say the government needs to tackle office rents andReuter - 480 words
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159 1994-06-18 3 KUALA LUMPUR Malaysia may have up to 30 television channels by 1996, the Star newspaper quoted Information Minister Mohamed Rahmat as saying. "With the review of the Broadcasting Act, the number of television channels will keep on increasing from159 words
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Article, Illustration74 1994-06-18 3 Reuter BEIJING After a long day at the office, a dip in a heated pool, surrounded by lush greenery, mythical mermaids and swimming swans must be the height of luxury for these men. This paradise, China's largest massage and sauna parlour,is located in suburban Beijing. The four-storey complexReuter - 74 words
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370 1994-06-18 3 Neville Stack - From Neville Stack in LONDON BRITISH Trade Minister Richard Needham has launched an intensive drive to attract British firms to work with Singapore and invest in Suzhou. China. He spoke of a "huge" level of capital investment to be channelled370 words
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343 1994-06-18 3 Reuter NEW DELHI The World Bank has urged India to use market-based instruments and perhaps even taxation to slow down a surge in capital inflows and stop the rupee from appreciating and harming export growth. In its latest India report, the bank saidReuter - 343 words
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245 1994-06-18 3 Knight-Ridder BANGKOK Thailand's national planning agency will present the government with a plan this weekend to make greater metropolitan Bangkok a "service hub" for neighbouring countries in the next century. The National Economic and Social Development Board (NESB) plan includes infrastructureKnight-Ridder - 245 words
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ASIA NOTES
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Article124 1994-06-18 3 Bernama, The Straits Times KUALA LUMPUR Malaysian Prime Minister Mahathir Mohamad yesterday questioned whether US opposition to the East Asia Economic Caucus was due to racism. "We have explained many times that we are not going to he a trade bloc. We just wantBernama, The Straits Times - 124 words
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Article, Illustration86 1994-06-18 3 Reuter, The Straits Times BANGKOK A Thai stockbroker walking past the pricemonitoring board in a trading room in Bangkok yesterday. Th? Stock Exchange of Thailand surged strongly at yesterday's openl- reflecting general relief on easing of political pressure in parliament. Meanwhile Thai democracy activist ChaladReuter,; The Straits Times - 86 words
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108 1994-06-18 3 Reuter HONGKONG At least one person was killed and 60 were injured when a textile factory collapsed in the Zhuhai Special Economic Zone yesterday during clean-up operations after a fire on Thursday, Hongkong television reported. Up to 40 peoplf were thought to be trapped beneathReuter - 108 words
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Article70 1994-06-18 3 Bernama KUALA LUMPUR Malaysia has replied to the letter from British Prime Minister John Major asking Kuala Lumpur to rescind the ban on new government contracts for British companies. British High Commissioner Duncan Slater said yesterday. The response gave "some hope for reconciliation", said Mr SlaterBernama - 70 words
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525 1994-06-18 3 AFP BOMBAY Bombay's dream of rivalling Hongkong as a global business hub is taking shape on 100 ha of reclaimed marshland at the centre of the oblong-shaped metropolis. The International Finance and Business Centre (IFBC) in the Bandra-Kurla area of theAFP - 525 words
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Page 3 Advertisements
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Advertisement74 1994-06-18 3 Sftiy Af The Chelsea one I BSfilli il H Striking in its simplicity, comfort and convenience.The Chelsea is i jf I I WHj jp *224 Luxurious Bedrooms Open Plan Suites definitely the ideal setting for a memorable stay while you see J ■SL-—IE fWLJIS 24-hr Room Service •Laundry/Pressing Services London74 words
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REGION/WORLD
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Article, Illustration616 1994-06-18 4 AP, Reuter, AFP WASHINGTON President Bill Clinton's administration said it would be willing to hold a new round of high-level talks with North Korea if it confirms that the North is making concessions over its nuclear programme, butAP,; Reuter,; AFP; Reuter - 616 words
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263 1994-06-18 4 AP WASHINGTON Economic recessions are on the horizon unless the US takes additional steps to reduce the federal budget deficit over the next several years, Congress' top budget adviser said at a congressional hearing yesterday. The General Accounting Office estimatesAP - 263 words
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236 1994-06-18 4 AP BEIJING China reacted angrily yesterday to proposed reforms in Hongkong that would make information more accessible before the British colony reverts to Chi.iese sovereignty in 1997. The Hongkong government, under pressure from legislators who want a freedom of informationAP - 236 words
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279 1994-06-18 4 Bloomberg Business News TOKYO After two days of talks, US and Japanese negotiators could not agree on reforms in Japanese government procurement of telecommunications equipment and services, said a US trade official yesterday. Along with medical technology procurement, the telecommunications negotiations are oneBloomberg Business News - 279 words
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Article, Illustration312 1994-06-18 4 The Straits Times KUALA LUMPUR Prime Minister Mahathir Mohamad said yesterday that Darul Arqam the country's biggest Islamic movement was aspiring to take over the country and he hinted at impending action against it. Speaking to the press after opening the WorldThe Straits Times; Reuter - 312 words
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269 1994-06-18 4 Reuter LONDON A shift of money away from the financial markets into industry could be taking place as government bond prices plunge worldwide, economists say. "We've heard from one major asset management company...that funds are being wound up and put into venture capitalReuter - 269 words
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Article1785 1994-06-18 4 City Flight ETA H»t ETB_ Otg IB fl|j ETP Amman RJ187 0130 MI931 2035 M1932 0920 Amsterdam SQ25 0630 KL844 0035 Hanoi VN741 1310 SQ176 1130 KL831 0935 KL838 2300 SQ175 1855 VN740 1410 S Q 324 2345 Hatyai MI895 2300 MI896 1920 Auckland NZ21 17351,785 words
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229 1994-06-18 4 AFP TOKYO Japan's top car maker Toyota Motor Coip has decided to produce cars jointly in China with a major Chinese automotive group, the Nihon Keizai newspaper reported yesterday. The joint venture with Tianjin Automobile Industrial Corp, pending approval by theAFP - 229 words
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223 1994-06-18 4 Reuter FRANKFURT German sport surfacing company Balsam AG, which has filed for bankruptcy, had entered into currency options deals worth an estimated 6 billion marks (555.6 billion) to 14 billion marks, banking sources said. Technically insolvent for many years, Balsam apparently attemptedReuter - 223 words
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THE WORLD
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Article, Illustration567 1994-06-18 5 Neville Stack - From Neville Stack in LONDON THE man who became known as Norman Feelgood has stood down as chairman of the Conservative Party and his departure will precipitate a cabinet shuffle. Former minister Norman Fowler, once a journalist on The Times,567 words
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433 1994-06-18 5 FT LUXEMBOURG The European Commission on Thursday shelved ambitious proposals to deregulate the management of pension funds after member states could not agree on how far national governments should be allowed to dictate the terms of investment. EU members couldFT - 433 words
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283 1994-06-18 5 Reuter WASHINGTON Senior Agriculture Department officials came under intense and hostile interrogation on Thursday from lawmakers on the department's relationship with the multi-billion dollar US poultry industry. Deputy Agriculture Secretary Richard Rominger, before two House Government Operations subcommittees, tried to deflect chargesReuter - 283 words
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274 1994-06-18 5 Reuter OSLO European nations on Thursday launched a 250 million ECU (***** million) research project into digital television to fight stiff competition from the US and Japan. Technology ministers and senior officials from 22 countries in the so-called Eureka group said they "approved theReuter - 274 words
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331 1994-06-18 5 Los Angeles Times WASHINGTON In a direct challenge to President Clinton. Democratic congressional leaders introduced a Bill on Thursday that would punish China for human rights abuses by blocking some of its exports to the United States. House Democratic leaderLos Angeles Times - 331 words
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263 1994-06-18 5 Reuter BONN Germany will press for the easing of European Union restrictions on imports from China when it takes over the EU presidency next month. Economics Minister Guenter Rexrodt said yesterday. The EU in March imposed restrictions on seven categoriesReuter - 263 words
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Article, Illustration71 1994-06-18 5 AFP BOUIN, France Divers tasting a glass of Pouilly Fume 1989 on Thursday after raising 120 of 1,000 bottles which were sunk to the bottom of an oyster bed in an experiment four years ago. Convinced that sea movement and constant temperatureAFP - 71 words
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354 1994-06-18 5 Bloomberg Business News IHT PARIS The Bundesbank, in a decidedly upbeat assessment, has declared that Germany's economic recovery was strengthening and at the same time, sought to quell inflation fears that have been troubling financial markets. But the central bank also unsettled theBloomberg Business News; IHT - 354 words
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WORLD WATCH
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82 1994-06-18 5 Reuter MOSCOW A multi-billion-dollar oil deal between Russia and a Western eonsortium will be signed next week, a spokesman for the fuel and energy ministry said. He said the US$9 billion (5513.8 billion) production-sharing agreement, known as Sakha-lin-2. would be signed by PrimeReuter - 82 words
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117 1994-06-18 5 Reuter VATICAN CITY The Vatican, long secretive about money, discussed the state of its finances and said it had posted a budget surplus of US$l.5 million (552.3 million) in 1993 after 23 straight years of deficits. The Holy See's consolidated financial statement was presented atReuter - 117 words
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Article, Illustration57 1994-06-18 5 AFP LONDON Although her public appearances are few now. Britain's Princess of Wales is back on the front page of fashion magazine Vogue's July issue. The picture was taken by one of her favourite photographers Frenchman Patrick Demarcheller who also took the first VogueAFP - 57 words
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Article82 1994-06-18 5 AFP BRUSSELS Belgian Prime Minister Jean-Luc Dehaene has declared himself an official candidate to replace Jacques Delors as president of the European Commission, the Belgian government announced yesterday. The other declared candidates for the post are the outgoing Dutch Prime Minister. Ruud Lubbers, and theAFP - 82 words
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245 1994-06-18 5 Bloomberg Business News ATLANTA Ted Turner has been elected to the board of directors of Tele-Communica-tions Inc, further linking two of America's most powerful cable television concerns. Mr Turner, the 55-year-old billionaire cable television pioneer, is chairman and president of Turner Broadcasting SystemBloomberg Business News - 245 words
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COMPANIES & MARKETS
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441 1994-06-18 6 Genevieve Cua - Property tycoon inches towards 25pc general offer point By Genevieve Cua PROPERTY tycoon Ng Teng Fong continued to pick up Yeo Hiap Seng shares this week, raising his total holding from 18.53 per cent to 19.76 per cent. The latest acquisitions were441 words
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287 1994-06-18 6 Ramesh Divyanathan - By Ramesh Divyanathan SINGAPORE Shippingbased Hai Sun Hup has reported a 3.3 per cent drop in net earnings to $23.87 million for the year to March 31. And pre-tax profit fell 3.2 per cent from the previous year, to $28.26 million.287 words
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370 1994-06-18 6 Rahita Elias - Reports by Rahita Elias SINGAPORE Shipyard Hitachi Zosen Singapore has turned in a poor set of figures for the year to March 31. Group net earnings plunged 19 per cent to $26.9 million. Earnings per share (EPS) also fell 19370 words
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252 1994-06-18 6 S N Vasuki - By S N Vasuki TENAGA Nasional Bhd (TNB) has been assigned an A 2 rating by Moody's Investors Service. This is in connection with US$6OO million (SS9IB million) worth of notes that the Malaysian utility issued recently in a privately252 words
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768 1994-06-18 6 S N Vasuki - HOCK LOCK SIEW By S N Vasuki SINGAPORE Malaysian utility Tenaga Nasional Bhd (TNB) has outlined its ambitions of becoming a major regional player in the power generation business. TNB wants to be a super-utility at a time when its monopoly768 words
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302 1994-06-18 6 SINGAPORE Hitachi Zosen Singapore plans to set up a shiprepair yard in the region, while expanding its shipbuilding facilities at home. In announcing its 1993/94 results, managing director Foo Meng Kee yesterday told reporters and analysts the group could spend up to $20 million on302 words
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EYE on your STOCKS
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Article20 1994-06-18 6 For next week 's expected market sentiment, see Bl Sentiment Index on Ft. (Personal Finance A Investment section)20 words
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Article, Illustration141 1994-06-18 6 Paul Leo - By Paul Leo Steamers Maritime Holdings has been trading between $1.18 and 1.29 since March 21. At $1.19 yesterday, it is a medium-term buy. Weekly and daily Relative Strength Indices are near 25 and any further price weakness will push it into oversold region. Monthly, weekly and daily141 words
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COMPANIES
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COMPANY BRIEFS
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65 1994-06-18 7 SINGAPORE The Hour Glass has entered into an agreement under which two parties, Konstantia Ninou and Sia Hwee Mian, will take stakes in its wholly-owned subsidiary Les Arts and Antiques. The issued and paid-up capital of Les Arts and Antiques, which sells porcelain,65 words
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Article31 1994-06-18 7 SINGAPORE PCI said it has set up a wholly-owned subsidiary Quijul Pte Ltd as an investment vehicle. The subsidiary will have an authorised capital of $100,000.31 words
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Article22 1994-06-18 7 SINGAPORE Tat Lee Bank said yesterday that Sio Sion Soen had retired as a director, effective last Saturday.22 words
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Article78 1994-06-18 7 Bernama KUALA LUMPUR TA Enterprise Bhd, which runs Malaysia's leading retail stockbroking firm, has proposed a two-for-one bonus share issue of 240 million shares of Msl each to be capitalised from retained earnings and surplus arising from revaluation of its investments. The issue will raiseBernama - 78 words
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60 1994-06-18 7 Bernama KUALA LUMPUR Prophil Development Corporation of the Philippines, a 40 per cent associate company of Promet Bhd, is to build 25,000 units of housing for government employees in the Philippines. Prophil signed a memorandum of understanding with the Philippines Government Service Insurance System onBernama - 60 words
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Article37 1994-06-18 7 Reuter MANILA Philippine Long Distance Telephone Co plans to issue convertible preferred shares worth US$3OO million (***** million) late this year. Proceeds will finance the installation of over a million phones. ReuterReuter - 37 words
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439 1994-06-18 7 MBT KUALA LUMPUR IJM Corp Bhd and its Malaysian partners have taken over 100 per cent equity of the Ho Chi Minh City water treatment plant project, following the withdrawal of the Vietnamese party. IJM has increased its stake in the US$3O million (Ss46MBT - 439 words
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198 1994-06-18 7 AFP MANILA The Philippine government yesterday failed for the second time to sell off National Steel Corp, the country's 12th largest firm, after a Malaysian company declined to exercise its option to a negotiated sale, officials said. Wing Tiek Holdings Bhd,AFP - 198 words
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332 1994-06-18 7 Joseph Rajendran - Purchase will give company better access to US market By Joseph Rajendran SINGAPORE Local firm Electro Magnetics Ltd plans to buy a Malaysian video cassette maker for $8.8 million. In a statement yesterday to the Stock Exchange of Singapore, EML said332 words
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Article, Illustration321 1994-06-18 7 Bernard Chew - By Bernard Chew SES main board listed engineering firm Van Der Horst (VDH) said yesterday it had concluded agreements to sell a second power barge, or floating power station, to the Philippines' East Asia Power Corporation (EAPC). Under the terms of the U5557.5 million (SsBB321 words
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337 1994-06-18 7 Bernama KUALA LUMPUR Hicom Bhd yesterday sealed an Ms2o million (SSII.B million) jointventure agreement with John Matthey pic and another Malaysian company to manufacture and distribute autocatalysts, a vital component in catalytic converters. Hicom will hold 30 per cent equity, John Matthey 50Bernama - 337 words
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208 1994-06-18 7 AFP MANILA Singapore's Keppel Group is buying into the Banco de Oro Savings and Mortgage Bank, a small commercial bank wholly owned by the family of Philippine retail and property development tycoon Henry Sy, family members said here.AFP - 208 words
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380 1994-06-18 7 Quak Hiang Whai - From Quak Hiang Whai in BEIJING THE Singapore governmentbacked Suzhou township project is making good progress, Sim Kee Boon, chairman of Keppel Corporation and the consortium leading the development, said yesterday. With about 70 per cent of the earthwork under Phase One now380 words
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479 1994-06-18 7 Reuter KUALA LUMPUR The recent rush by Malaysian firms to buy up local brokerages, like the stock market index itself, moved down a few notches with news in the past week that two prominent takeovers have been aborted. The scramble for brokerages began inReuter - 479 words
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Article533 1994-06-18 7 Manager*' prie*» Jun I8&30 UMB Invest Mgt Ltd f. ii-u Tnut Unifund 1.46 I.S2 *PP II Unn I L'nibond-f 1.03 1.055 The Commerce 1.66 I 76xd t'niled Gr Fund! 167 1.74 The Savings Fund 1.56 1.65 United Asia Fund 166 1.76* S pore Prog Fund 0.70 0.74 S'pore See Fund533 words
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Article127 1994-06-18 7 Bernama KUALA LUMPUR Formosa Prosonic Industries Berhad (FPI) made history yesterday when it became the first Tai-wanese-controlled company to be listed on the Kuala Lumpur Stock Exchange Second Board. The counter's first business was done at M 54.80, registering a premium of MS 1.50 overBernama - 127 words
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Article, Illustration305 1994-06-18 7 Bernama KUALA LUMPUR Perusahaan Otomobil Nasional Bhd's group turnover jumped 35 per cent for the year ended March 31, 1994, but the stronger yen against the ringgit saw operating profit slipping 6 per cent from a year ago. Releasing its audited results here yesterday.Bernama - 305 words
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COMPANY BRIEFS
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80 1994-06-18 8 Bloomberg Business News ATLANTA Coca-Cola Co yesterday said it planned to return to South Africa after an eight-year absence. Coca-Cola, the world's largest beverage maker, will purchase National Beverage Services, an independent South African company that has provided marketing and technical services to Coca-ColaBloomberg Business News - 80 words
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86 1994-06-18 8 Bloomberg Business News ENGLEWOOD, Colorado The pending re-merger of TeleCommunications Inc and Liberty Media Corp has won the approval of both companies' boards, clearing the way for a vote by their shareholders. No specific dates for the vote were set during the board meetings on Wednesday. However,Bloomberg Business News - 86 words
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Article45 1994-06-18 8 AFP HONGKONG US-based communications giant Motorola announced yesterday an investment of US$4O million (5561.2 million) to develop a high-speed wireless computing network in Hongkong. The network will be built and operated by a new Motorola subsidiary, Motorola Aircommunications Ltd. AFPAFP - 45 words
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Article85 1994-06-18 8 Bloomberg Business News FRANKFURT CIP Center AG, a company in Germany's collapsed Schneider real estate group, faces claims of more than 100 million deutschemarks (Ss94 million) after its first creditor meeting on Thursday, the Sueddeiitsche Zeitung reported ClP's official receiver as saying. Of that sum, 80Bloomberg Business News - 85 words
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Article67 1994-06-18 8 AFP TOKYO Yaohan Japan Corp yesterday slashed its group pre-tax profit forecast for the year just ended to 3.3 billion yen (Ss49 million), down from its earlier projection of 5.6 billion yen. The medium-sized supermarket operator, the biggest shareholder of which is Hongkong-based Yaohan International Ltd,AFP - 67 words
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331 1994-06-18 8 FT LONDON The London Stock Exchange plans to launch its first ever marketing effort aimed at encouraging non-British corporations to seek a listing in London, said Michael Lawrence, the exchange's new chief executive. Mr Lawrence, who took charge in February, was outlining the changesFT - 331 words
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226 1994-06-18 8 FT PARIS CarnaudMetalbox, the Franco-British group, is merging its health and beauty packaging interests with those of Wheaton, the privately owned US concern, to create the largest force in that segment of the international packaging industry. Jurgen Hintz, chairman of CarnaudMetalbox, said Whea-FT - 226 words
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Article379 1994-06-18 8 Venture will focus on network-based services and products Reuter NEW YORK International Business Machines Corp said it formed a new business unit to focus on developing network-ed-based services and products that are a foundation for consumers and businesses to drive down the information superhighway. IBMReuter - 379 words
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165 1994-06-18 8 Bloomberg Business News PHOENIX American Telephone telecommunications is selling its LS-based copper exchange cable, cords and customer cable assembly business to a new company formed by managers of its Phoenix Works plant and Citicorp Venture Capital. Terms of the sale, expected to close by SepBloomberg Business News - 165 words
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318 1994-06-18 8 NYT NEW YORK The US publishing arm of Bertelsmann AG, the German media giant, said on Thursday it is acquiring a group of magazines from The New York Times Co aimed primarily at the women's market. TheNYT - 318 words
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SHIPS IN PORT
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Article439 1994-06-18 8 VesMl fay Ne Bertti Vmal Pgrtwt Vessel Voy Wo Berth Arrival Departure Jurong Port Balan Speed *****' POIA 1/06,1900 1706/2100 bum BXg>a 06/04/94 120 alongside 18.06/2300 Batam Speeti W POIA 1706/1200 1706/1400 Bat«n Mall N125 11 alongside 1806/2300 Man Speed3 ****** P01A 1806,0700 1806,0900 Btestul Ree% 18439 words
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Article1780 1994-06-18 8 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rstts Ship Voy No Etb/Btr Period From To From Aci bde 191* 19/0500 1A 17/1500 1/1659 17 1900 2A 17/1700 18/0659 18/0900 3 18/0700 18/1159 18/1400 4 18/1200 18/1459 18/17001,780 words
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FINANCE & COMMODITIES
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485 1994-06-18 9 Vikram Khanna - By Vikram Khanna SINGAPORE The Stock Exchange of Singapore should reassess brokerage fees and other regulations that might have discouraged trading on the Singapore market, said a National University of Singapore don yesterday. Ngiam Kee Jin, senior lecturer at the Department485 words
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Article, Illustration406 1994-06-18 9 DBS Bank weekly currency review US$/mark: Bearish pattern but indicators oversold The greenback tumbled from a high of 1.6653 on Monday to a low of 1.6275 on Thursday, then recovered to 1.6315 yesterday morning. Although a bearish triangle pattern is seen in the406 words
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346 1994-06-18 9 Reuter NEW YORK Federal Reserve Bank of New York president William McDonough said on Thursday the fast-growing derivatives industry needed greater disclosure by both dealers and users, which may require redefining the notion of proprietary information. But Mr McDonough did not call forReuter - 346 words
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373 1994-06-18 9 Bloomberg Business News PITTSBURGH PNC Bank Corp, in an acquisition that will make it the sixth-largest money manager among US banks, will buy Blackßock Financial Management for US$24O million (***** million) in cash and notes. Blackßock, a New Yorkbased firm, manages US$23Bloomberg Business News - 373 words
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276 1994-06-18 9 Bernama KUALA LUMPUR A Hong Leong Industries Bhd wholly owned Subsidiary has obtained a USSIOO million (SSIS3 million) floating rate note issue, arranged through the Labuan International Offshore Financial Centre. The note issue, for Mai Kah Corporation Sdn Bhd and arrangedBernama - 276 words
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403 1994-06-18 9 Conrad Raj - By Conrad Raj SINGAPORE One of Thailand's fastest growing and strongest financial institutions. The Thai Danu Bank, signed up for a USSIOO million (SSIS3 million) financing facility yesterday in Singapore. The facility, in the form of three-year negotiable Floating Rate Certificates of403 words
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377 1994-06-18 9 Bloomberg Business News LONDON Standard Chartered pic. a London-based international banking group, has reshuffled responsibilities among five senior executives to tighten management control. "This is just a realignment of the portfolios of existing directors." Will Manser. Stanchart's public affairs manager, said yesterday.Bloomberg Business News - 377 words
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Article, Illustration174 1994-06-18 9 SINGAPORE A collection of 19th century Singapore banknotes will go under the hammer next Saturday at the Hyatt Regency Hotel. According to a catalogue distributed by London-based numismatic auctioneer Spink Son, private banknotes from Singapore issued in the 19th century are "extremely rare and to174 words
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504 1994-06-18 9 Bloomberg Business News TOKYO Speculators combing Japan's surging stock market for low-priced shares have been bidding up regional banks still buried under mountains of bad debt. Analysts say they may be digging their own graves. Take the stock of Kiyo Bank, based inBloomberg Business News - 504 words
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521 1994-06-18 10 FT LONDON Yields on dollardenominated bonds issued by South Korean borrowers have widened by between 25 and 30 basis points over the last week, reflecting investor fears of a further heightening of tensions on the Korean peninsula. Last week. Standard Poor's, theFT - 521 words
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297 1994-06-18 10 Bloomberg Business News NEW YORK Northwest Pipeline Corp has cut the proposed size of an expansion of its pipeline system by 76 per cent after the number of potential customers for the expansion dropped by more than half. Under the amended application filed with theBloomberg Business News - 297 words
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Article, Illustration59 1994-06-18 10 Reuter RIO DE JANEIRO The Petrobas XVUI platform, seen in the heart of Brazil's oil-rich Campos Basin on Thursday. The platform will produce a world record-breaking 100,000 barrels of crude per day. The platform was inaugurated last week and has been hailed as a major stepReuter - 59 words
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430 1994-06-18 10 Washington Post WASHINGTON Oil has been very, very good to Bill Clinton. Low oil prices blunted the impact of the 4.3 US cent (6.6 Singapore cent) increase in federal taxes on petrol in October, and low prices have helped to keepWashington Post - 430 words
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546 1994-06-18 10 IHT HANOI Caught between traditional savers' distrust and a creaking financial system, small new banks such as Vietnam Maritime Commercial Stock Bank nonetheless are putting the squeeze on the state institutions now dominating the market. Founded less than three years ago, Haiphong-basedIHT - 546 words
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200 1994-06-18 10 Reuter WARSAW US Amoco Corp is hoping to win a tax agreement from the Polish government which would enable it to start drilling methane beds by the end of this year, Amoco Production's vice-president has said. David Work told reporters theReuter - 200 words
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Article, Illustration139 1994-06-18 10 THE US dollar was slightly firmer yesterday, a function of pre-weekend short-cover-ing amid fears of increased tensions over North Korea. The US$ saw active twoway business against the S$ and ended slightly higher around 1.5343-48, up from Thursday's 1.5320 close. The US unit fell againstSource: Dow Jones Telerate - 139 words
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Article177 1994-06-18 10 Reuter LONDON The dollar fell two pfennigs in a few minutes' dramatic trading yesterday after an unexpected series of forecasts from an independent US think-tank. The Conference Board, a US business research group, said the dollar could fall 10 per cent against the mark over the next 18 months,Reuter - 177 words
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162 1994-06-18 10 Bloomberg ENERGY REPORT LONDON Crude oil prices on the New York Mercantile Exchange surpassed US$2O a barrel yesterday for the first time since June 1993, as speculative traders sought to extend a two-and-a-half-month rally. West Texas Intermediate rose on speculative interest from commodity162 words
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Article87 1994-06-18 10 AFP NEW YORK The dollar regained ground against other major currencies here early yesterday, boosted by cover buying on a calm market dominated by technical factors. At about 9:30 am (1330 GMT), the dollar traded at 1.6370 marks, up from 1.6327 late Thursday, and at 103.75 yen (103.40).AFP - 87 words
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Article, Illustration1682 1994-06-18 10 I rotk-Hrtxhln/ intlt loh ukiltil aganisl S'i<urr\ /up H Irthhitg partnm. Bum- ytur /BIJ US$/S$ forward rates Noon June 17 ss Bid Offer 1-month I.332S 1.5343 2-monih I 5324 I.S339 3-monih I 5321 I ii& 6-monih I 5301 1.5331 Source: OCBC FOREIGN CURRENCY NOTE RATES As at 9am on J1,682 words
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COMMODITIES & FUTURES
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Article1296 1994-06-18 11 Reuter SINGAPORE Simex Euroyen futures ended sharply lower following the collapse in the Japanese government bond futures market yesterday. Dealers said selling of JGBs led by foreign funds in the afternoon resulted in a collapse in prices in the key September JGB contract, which closedReuter - 1,296 words
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647 1994-06-18 11 COMMODITY REPORTS Rubber SINGAPORE: Rubber futures finished sharply lower yesterday on light fresh selling and long liquidation prompted by hefty losses in the Japanese markets, brokers said. They said profit-taking took July and August contracts on the Tokyo rubber futures market to their daily five-yen/kg647 words
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KNIGHT-RIDDER COMMODITY SUMMARY
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96 1994-06-18 11 VIENNA Oil Minister Safa Hadi Jawad said yesterday there were no conditions on his country's promise not to flood the oil market and to respect Opec price levels when the UN eventually lifts its embargo against Iraq. "We will respect the price of Opec. There96 words
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130 1994-06-18 11 TOKYO Japan's Kashima Oil Co is in negotiations with one of its shareholder companies, Mitsubishi Petrochemical Co, to sell its naphtha storage facilities in a bid to write off the huge loss it made in foreign exchange deals, a company spokesman said. In early130 words
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123 1994-06-18 11 SYDNEY The Australian wool market indicator price closed 3 Australian cents per kilogram lower this week despite greater activity by Chinese buyers. The national market indicator, which measures the price of wools sold at auction, finished at 62S Australian cents per kilografh clean, 43123 words
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Article1407 1994-06-18 11 Rubber June 17 Singapore Commodity Exchange Physical Prtcos (futuros dosing as at 5.30pm) tajsri Isisri At at 12 mm (S cents/kg) RSS 1 Contract (S cents/kg) Volume J* 94 |g-JjJ Month High Low Sett (tonnes) Interest RSS 3 Jul > 94 164 50 '*5.50N RSS 4 July 941,407 words
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REGIONAL STOCK MARKETS
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Article1201 1994-06-18 12 •4.8 THE Australian stock market closed slightly lower yesterday, dragged down by bearish bond and futures trading. The All Ordinaries index closed 4.8 points down at 2051.2. Brokers said the market temporarily touched positive territory but was undermined by falling bond prices. "We thought the market had the capacity1,201 words
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Article589 1994-06-18 12 -33.73 Philippine share prices declined for the seventh straight trading day, slipping 1.15 per cent on selling in blue chips and secondliners as investors further built up on cash for upcoming public offerings, analysts said. The Philippine Stock Exchange composite index tumbled 33.73 points to close at 2,882.83. The589 words
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Article548 1994-06-18 12 10.1 Taipei bourse ended slightly higher for sixth consecutive winning sessions, with only banking and insurance and construction shares pos'ing gains, dealers said. The 374-issue weighted price index on the Taiwan Stock Exchange put on 10.1 points or 0.16 per cent to settle at 6,159.74 points. Turnover slid to548 words
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Article457 1994-06-18 12 17.46 Stocks closed sharply higher across the board on hopes that the North Korean nuclear crisis will be resolved peacefully, brokers said. The composite index ended at 918.54, up 1.94 per cent or 17.46 points from Thursday. It was off the day high of 922.51 reached in early afternoon.457 words
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Article295 1994-06-18 12 -2.69 The New Zealand share market finished a mixed and thinlytraded week on an appropriately dull note. The exception being the retail sector which continues to assess the implications of Graeme Hart's move this week on Australia's Foodland Associated. His company Whitcoulls recouped some of Thursday's losses to295 words
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Article59 1994-06-18 12 102.62 The Bombay Stock Exchange (BSE) 30-share index ended at a 26-month high as local speculators and foreign investors bought heavily on the first day of the new account period, brokers said. The BSE index closed at a provisional 4,290.37, up 102.62 points, or 2.45 per cent. The 100-share59 words
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WORLD STOCK MARKETS
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Article841 1994-06-18 12 -7.2 UK stocks declined for the second straight session amid concern interest rates and inflation may rise later this year, countering hopes for growth in company earnings. An early gain of 19.6 points on the FT-SE 100 Index was wiped out as a rally in government bonds across Europe841 words
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Article147 1994-06-18 12 -6.86 French stocks lost earlier gains, hurt by declines on Wall Street, and fell below the record lows they hit Thursday. The CAC-40 Index lost 6.86, or 0.35 per cent, to 1935.95. The last time it was that low was July 6, when it was 1935.12. Financial shares were147 words
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Article116 1994-06-18 12 -14.31 Swedish shares closed lower, in line with most European markets, as investors closed positions ahead of the weekend. The OMX Index of the 30 leading stocks slumped 14.31 points to 1085.03 as shares drifted throughout the day after opening higher. Bond yields were higher. The yield on the116 words
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Article174 1994-06-18 12 -18.92 German stocks continued to fall in late trading as German bonds slipped back in line with Treasuries on renewed US inflation concerns. In after-hours trading, the DAX index of Germany's 30 leading shares finished at 2031.80, down a further 18.92 points from its official close, which itself showed174 words
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Article132 1994-06-18 12 +2 Italian stocks opened higher in early trading, then fell to close little changed on light volume as investors waited to see what the government will do about a sudden pension obligation and the threat to budget stability. The Mibtcl index rose as high as 131 points to 11,226132 words
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Article262 1994-06-18 12 •3.12 Dutch stocks closed lower as investors sold blue chips to push the index down so they could make money on June options and futures contracts ahead of their expiration. Consumer products group Unilever NV and publisher Elsevier NV and banker-insurer Internationale Nederlanden Groep NV were among the stocks262 words
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Article258 1994-06-18 12 -39 Swiss stocks in the core blue-chip index fell, losing 1.5 per cent in the afternoon, with financial stocks tumbling because of weaker bonds, traders said. The Swiss Market Index, or SMI, which tracks the top 21 blue-chip stocks, lost 39.0 points today to 2627.6 points, all 21 stocks258 words
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Article282 1994-06-18 12 -14 Recovering from morning losses, gold shares moved ahead on a surge of late local buying as the price of bullion broke through $388 near the close. The overall index gained 11 points to 5,784, the industrial index shed 14 points to 6,730 and the gold index added 12282 words
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Article158 1994-06-18 12 •5.81 Belgian stocks fell to their lowest for six months becausc of the weakness of the dollar and high bond yields, analysts said. Dividend payments also contributed to the decline. Chemical company Solvay SA, holding company Groupe Bruxcllcs Lambert SA and pharmaceutical company UCB SA fell in line with158 words
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Article269 1994-06-18 12 -8.38 Toronto stocks were easier at midday yesterday in thin, uneven trade. The TSE 300 was off 8.38 points at 4155.07 in volume of 29.64 million shares valued at C 5400.29 million. Declines led advances 308 to 258 with 279 issues unchanged. Toronto seemed to resist a downward plunge269 words
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Article810 1994-06-18 12 -21.56 Wall Street stocks fell sharply at midscssion yesterday as a surge in commodity prices pushed inflation-sensitive long-term interest rates higher. The Dow Jones industrial average was down 21.56 points at 3,789.78 at 1 pm EDT. On the broader market, declining issues led advances 11-7 on New York810 words
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Article558 1994-06-18 12 Vienna Jim 17 Asch AU\ 1400 Met) Bank Vim rut P> 440 omtanlu 43* 24 FlufMcn 450 7 Lnuing I2W 4 Lev turn 4)5 5 SioerDP 24» Si ratal 1710 JO Vciivho 370 t J Wwwitvfi 3540 20 Source: Bank Austria Aktiengesellchaft Nasdaq Jn It uss VJoipfc Coon Bir»ia( 19558 words
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Article, Illustration3023 1994-06-18 13 Bloomberg Business News HONGKONG A late spate of buy orders pushed share prices higher in thin trading yesterday, as many investors held out for the resumption later this month of Sino-British talks on financing for the local US$2O billion airport project. "The late buying was kind of artificial," saidBloomberg Business News; Source: Bridge Info - 3,023 words
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Article, Illustration507 1994-06-18 13 CLSA THE Shanghai B shares eased yesterday with the CLSA B index slipping 2.03 points to 798.30. Trading also shrunk to US$2.O million. The more actively traded B stocks were Jin Jiang Tower, which gained 0.7 per cent, and Pilkington Glass, which fell 1.1 per cent. The Shenzhen ACLSA - 507 words
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Article, Illustration2558 1994-06-18 13 Bloomberg Busines News TOKYO Stocks rose for the second straight day on a weaker yen, which takes pressure off profits at Japan's big exporters, and signs the US is willing to talk with North Korea, traders said. "A slightly weaker yen has encouraged investors to buy the international blueBloomberg Busines News; Source: Bridge Info - 2,558 words
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Article, Illustration1799 1994-06-18 13 Bloomberg Business News BANGKOK Thai stocks rose as investors bid up shares on expectations that the nation's three-week political stalemate will soon end, analysts said. Brokerage issues, yesterday's biggest gainers, rose 2.28 per cent, as turnover more than doubled from Thursday, when a breakthrough seemed less likely, analysts said.Bloomberg Business News; Source: Bridge Info - 1,799 words
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Article, Illustration1141 1994-06-18 13 Bloomberg Business News JAKARTA Indonesian stocks were little changed as newcomer Tempo Scan hogged investors' attention yesterday, dealers said. Institutions focusing on other markets that promised better gains this year avoided making any major investments, analysts said. The Jakarta Stock Exchange Composite Index was little changed, giving up justBloomberg Business News; Source: Bridge Info - 1,141 words
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Article2428 1994-06-18 14 Idm Hyd 50c 7,963.000 Fabcr Group 7.707.000 Kcnong Bhd 50c 7,210.000 Mulpha In 11 50c 7.053,000 Promct 6.877.000 AMDB 50c 3.012.000 Kamunting 50c 2,941.000 Lien Hoc TSK97 2.498,000 DM IB Bhd 50c 2.133.000 Multi-Purpose 2.103.000 Bcrja>a Ind 2.022.000 Landmarks Bhd 1.933.000 FACB 50c 1.837.000 MOST ACTJVt vafci» Idns2,428 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration6149 1994-06-18 14 Bloomberg Business News KUALA LUMPUR Malaysian stocks rose amid investors' hopes that the likely return of an important stock to the market and possible steps towards political reform over the weekend will spark a rally next week, analysts said. The Kuala LumpurBloomberg Business News; Source: Bridge Info - 6,149 words
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STOCK EXCHANGE OF SINGAPORE
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Article7411 1994-06-18 15 Cr Or 19*4 Last VW Day Last Q«H* Di» D». YM Net M Cap High Law Coaipaay Sale COM) Hick Low Bayer Seller Or P/E tail INDUSTRIAL AND COMMERCIAL 1*40 135 I Acma 955 xd 30 272 955 915 950 955 17.} 2.1 I I 15-3 658 3 800 4007,411 words
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Article, Illustration1836 1994-06-18 16 Paul Leo - By Paul Leo SINGAPORE Local stocks were mixed yesterday, with investors continuing to focus on Malaysian shares traded over the counter. The Straits Times Industrials Index rose 18.89 points to 2,306.23, lifted by late buying of selected blue chips. ShipyardCharts by Bridge Info; Source: Bloomberg - 1,836 words
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Page 6 Advertisements
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Advertisement407 1994-06-18 6 NEWS VALUE How today's news might affect your stocks Foreign exchange trading falls on hard times (pg I) Local banks' business robust enough to make up easily for any deficit. New CPF procedure to withdraw profits on shares (pg I) Unlikely to excite CPF investors. Liang Huat shares end 6407 words
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Page 11 Advertisements
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Advertisement31 1994-06-18 11 Saw an ad of a house that you may like to own? o Leave your name and telephone number in the seller's ClassiFone mailbox and let him respond to your call.31 words
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Advertisement35 1994-06-18 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 203 in The Straits Times $V| Classified, cxta 1737-11—135 words
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Page 12 Advertisements
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Advertisement47 1994-06-18 12 BusincssTimcs BusincssTimcs Businessfimes BusmessDmes BusiiiessTimes I 'in Subscribe now and have your personal copy delivered to your doorstep. Customer Relations Section Circulation Department Ad(lress: Singapore Press Holdings Limited 82 Genting Lane Postal Code: News Centre Singapore 1334 Occupation; Fax:_ Tel: 1800-749 2577 Fax: 744 4875 Tel:(0) (H)47 words
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Page 13 Advertisements
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Advertisement146 1994-06-18 13 El Primero automatic chronograph movement. j-1- Non-reflecting sapphire glass. It 4 Water-resistant to 100 m or 50m. gj I^TH Above Beyond Pie Ud 1 Maritime Square #02-101 Expo Gateway Tel *****42 Cortina Watch Centre Pte Ltd #01-36 RjffU. City Shopp.ng Centre Tel *****85 #01-32 Lucky PlauTel *****84 Deluxe Eastern W.tcli146 words
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Page 14 Advertisements
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Advertisement0 1994-06-18 14 <~!_<[$%%''|^**,"[=-`{||'>]&\]^0 words
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Advertisement9 1994-06-18 14 I I ft#U9ll lw Jvl Monday in Business Times9 words
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Page 15 Advertisements
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Advertisement172 1994-06-18 15 El Primero automatic chronograph movement. Non-reflecting sapphire glass. Hi 4 Water-resistant to 100 m or 50m. g"» ■^■■J Available in gold, gold and steel or steel. EE I^ll I Abort fc liym n* Ltd 1 Maritime Squirt 802-101 Expo Gateway Tel ******2 Cortina Watch Cntn Pit Lid 801 -M Raffle*172 words
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Page 16 Advertisements
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Advertisement18 1994-06-18 16 PORT SHOTS The latest in sea, air and land transportation. Shipping Times. Monday to Friday. Business Times HfIMVM18 words
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Advertisement889 1994-06-18 16 TOLL-FREE TEL. No. 1-600-741-1883 FAX74I-1298 IN THE MATTER OF THE COMPANIES ACT, CAP. 80 ANO IN THE MATTER Of PHITA ENTERPRISES (S) PTE LTD tl-L. til |J| I—t vcxumary nvxinQ-up) NOTICE IS HEREBY GIVEN that th« creditors of tha above company, which it being voluntarily wound up. are required on889 words
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Advertisement548 1994-06-18 16 IN THE MATTE* Of THE COMPANIES ACT, CHAPTERS* AND IN THE MATTES OE ASINDO STICE PTE. LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) Al an Extraordinary General Meeting of the members of the company held at the registered office of the company on Itth June 1994 at 2.00 pm (he following SPECIAL548 words
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Executive Lifestyle
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Article, Illustration1553 1994-06-18 17 Tan Su Yen - Tan Su Yen finds out where one can buy a piece of history without paying the earth for it Tan Su Yen LAST September, architect Calvin Sim almost bought a conservation shophouse in Joo -Chiat. He didn't for good reason. The price tag $730,000 for an unrestored shophouse1,553 words
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STRAWS N THE WIND
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Article146 1994-06-18 17 WHAT is good service? One restaurant in Holland Village dearly needs to know. When two customers ordered the Surf and Turf, the waitress brought tenderloin steaks instead. When one of the customers dared to a§k her where the seafood was, she blinked and said: "Can you take146 words
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Article17 1994-06-18 17 OVERHEARD at a wedding: "She looks good from far, but she's far from good."17 words
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Article25 1994-06-18 17 ONE WIT was asked his opinion of a dance troupe's performance. His reply? "It was truly hypnotic." In other words, he'd dozed ofT.25 words
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OPINIONS
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Article, Illustration956 1994-06-18 18 Tye Kim Khiat, Leon Hadar - While Tye Kim Khiat examines how the various uncertainties are complicating the situation on the Korean peninsula, Leon Hadar says the United States should be content to limit its role to that of a balancer of last resort in tne region Tye956 words
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997 1994-06-18 18 HAS a war hysteria engulfed Washington? If speeches in Congress and newspaper editorials arc any indication, many in the US capital arc eager to battle Kim II Sung, even if that means the destruction of Seoul and the end of the South Korean economic miracle,997 words
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Article871 1994-06-18 18 Neville Stack - Neville Stack is appalled by a campaign to get US judicial executions shown on TV Neville Stack The writer is a political commentator based in London. He writes regularly for liT THE ancient Romans had a novel way of amusing themselves. They would go871 words
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CORPORATE PROFILE
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Article, Illustration2245 1994-06-18 19 Peter Osborne - Asia's corporate giants BHP is fast becoming a global giant, expanding beyond its core businesses steel, minerals and petroleum in a major investment push. BHP's managing director John Prescott talks to Peter Osborne about his company's international diversification strategy. Peter Osborne BACK HOME, they2,245 words
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Article631 1994-06-18 19 I T SAYS a lot about the size and efficiency of BHP's expanding minerals division that it has produced record profits in a year of relatively weak demand, poor prices and recession in its biggest market. Japan. And it is BHP Mineral's assets base, currently631 words
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PERSONAL FINANCE & INVESTMENT
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BULLS EYE
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Article, Illustration49 1994-06-18 20 Those polled on their views of the Singapore stock market for the week ahead: Alliance Securities, Nomura Securities, OCBC Investment Research. Ong Co. Smith New Court, COB Securities, Schroders, Peregrine Securities, Phillip Securities, Smith New Court S C Warburg. Figures denote number of respondents49 words
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Article392 1994-06-18 20 Alliance Securities (June 15) Lim Kah Ngam. Strong buy up to 50.57 for rights to warrant, and subscribe for the warrant which is offered at $0.25. OCBC Investment Research (June 15) United Overseas Land. Trading at a 37 per cent discount to fuily-diluted NTA of $3.49 per share. With392 words
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Article, Illustration130 1994-06-18 20 T A Securities Sdn Bhd Forced selling on certain counters towards the end of May resulted in some panic selling, causing the KLSE CI to dip to 955 points. The market, however, rebounded sharply last week on hints of a possible early general election. The130 words
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Article, Illustration224 1994-06-18 20 Daniel Lian - Daniel Lian Regional economist Nat West Markets Singapore TV Vf alaysia's short term interest i.TA rates and its currency have been moving in opposite directions this year. The ringgit has strengthened by some 5 per cent since February to reach 2.5910 on June 16. 1994. The 3-month224 words
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Article, Illustration568 1994-06-18 20 Loh Hui Yin - Stock broker Morgan Grenfell Asia Securities expects the SET Index to rise 30pc over the next six months. Loh Hui Yin reports from Bangkok Loh Hui Yin THESE days, the headlines in Thailand's newspapers are preoccupied with only one topic when the ruling coalition will568 words
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Article575 1994-06-18 20 SOME sectors recommended by Morgan Grenfell Asia: Banks: Overweight Well-managed banks, with low-risk loan portfolios and diversified income sources, are a firm favourite with Morgan Grenfell Asia Securities. In recommending investors to take an overweight position on bank stocks, the Morgan Grenfell report said the banks575 words
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607 1994-06-18 20 Agnes Chen - If you are reshuffling your portfolio. Merrill Lynch has some suggestions. Agnes Chen has the details Agnes Chen STOCK picking will be important this year even in safe-haven Singapore, warns Merrill Lynch in its June Singapore market strategy report. The US broking firm607 words
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Article, Illustration265 1994-06-18 20 MERRILL Lynch predicts that while the move in Singapore towards private property and away from public housing will continue, the condominium market will see an oversupply in the next two to three years. The firm cites these major trends to support its cautious medium-term view265 words
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Article, Illustration979 1994-06-18 21 Ho Kay Tat - Eye on Malaysian properties and stocks With strong demand and high rentals, shophouses and shop offices are sizzlers. Ho Kay Tat reports from Kuala Lumpur Ho Kay Tat Although the Malaysian property market is not as hot as that of Hongkong and Singapore, the979 words
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Article166 1994-06-18 21 HOUSES costing MSBO.OOO and less: No foreign buying allowed. Bungalows from MSBO.OOO to MS500.000: Foreign purchases allowed only if owneroccupied and cannot be resold for three years. Bungalows costing above MS500.000: Foreign purchases allowed only if owneroccupied and cannot be resold for three years. If166 words
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Article427 1994-06-18 21 Malaysian property stocks on the whole appear rather expensive. In April, the sector was trading at a historical price-earnings multiple (PER) of about 57.79, compared to 30.24 for the KLSE Composite Index. Prices of many property counters had thrived on speculation of supposed land427 words
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Article, Illustration758 1994-06-18 21 Amy Balan - Amy Balan examines how the Malaysian government's proposed plan to move the administrative capital to Perang Besar will affect investors Amy Balan IMAGINE the chance of starting over. That's exactly what the Malaysian government is planning to do. It announced recently plans758 words
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624 1994-06-18 21 LIKE all infrastructure projects in Malaysia, the biggest winners of Perang Besar will be those involved in the development and construction of the new administrative centre. The market has it and this is all unsubstantiated that Idris Hydraulic (M) could land a624 words
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Article, Illustration715 1994-06-18 22 SUSAN TSANG - Cinema Review By SUSAN TSANG EVERY now and again, a small British production takes 'America by storm. Last tine round, it was The Crying Game. This year, it's the marrying game Four Weddings And A Funeral. There's a world of difference between the two hits. The former715 words
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Article, Illustration631 1994-06-18 22 SUSAN TSANG - By SUSAN TSANG SO WHICH movie-goer doesn't know that Brandon Lee was killed filming The CroW) A few innocents might have believed the producers when they claimed they wouldn't screen the movie out of respect for Lee's memory, but now that the film has been finished and released631 words
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Article, Illustration886 1994-06-18 22 Jaime Ee - They are mature, professional men over 35, financially secure and not gay. But they won't get hitched. Jaime Ee finds out why Jaime Ee A MAN (possibly Woody Allen) once said: "Men and women shouldn't live together. They should just886 words
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Article, Illustration1352 1994-06-18 22 Rob Koepp - There's more to Tokyo's Ginza than its glamour and glitter. Rob Koepp discovers that it's also a great place for a family outing Rob Koepp The writer is a freelance journalist who contributed this article to Executive Lifestyle SWANK shops, a high-brow club scene and property prices1,352 words
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Article, Illustration553 1994-06-18 23 CORINNE KERK - AacttMS By CORINNE KERK IMAGINE owning an antique 18 carat gold and enamel plated Swiss pocket watch bearing the enamel portrait of a Maharajah. Made around 1900 by the Watchmaker to the Queen and the Admiralty, Sir John Bennet, the watch is one of many in the fine553 words
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SPORTS
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Article, Illustration707 1994-06-18 24 US Open NYT OAKMONT, Pennsylvania Waves of heat rose from the fairways of Oakmont Country Club on Thursday, and the two men appeared to be stepping out of a mirage. Surely, that eould not be Tom Watson, floating up the 18th fairway, threeNYT; AFP - 707 words
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361 1994-06-18 24 AP OAKMONT. Pennsylvania He rarely visks the US, so Jumbo Ozaki made up for it with a hurried-up. see-it-all grand tour of all the countryside Pennsylvania can offer. At least in one US Open round. No travel agent could have booked soAP - 361 words
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Article, Illustration267 1994-06-18 24 Neville Stack - From Neville Stack in LONDON WHEN th BBC screens the full World Cup series this month, mail-order firms in Britain expect a big jump in their business. As soon as men turn on their favourite sport, wives and girlfriends reach for the telephone. TheReuter - 267 words
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SPORT SHORTS
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Article, Illustration60 1994-06-18 24 NEW YORK Major Ixague I hursda\ American: Milwaukee 5 Detroit 4: Cleveland 7 Boston 6: Baltimore I NY 6: Kansas Cit\ 4 Seattle I: Texas 4 Oakland 6: Chieago 5 California 6 (in 10). National: Atlanta 11 Colorado 8: SI 3 Houston 6; San Diego 7 Chicago I: Florida60 words
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Article, Illustration152 1994-06-18 24 OAKMONI. Pennsylvania IS Open selected first round scores Ihursday (pur-71. IS unless noted. a=amateur): 68 Tom Watson 69 Jack Nicklaus. Ernie Els (SA). Frank Nobilo (N'Z). Hale Irwin 70 Jumbo Oiaki (Jpn). Curtis Strange. Scott Verplank. Kirk Iripictt 71 Colin Montgomery (Ciß). Hajime Meshiai (Jpn). Clark Dennis. Ben Crenshaw.152 words
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Article, Illustration48 1994-06-18 24 AFP ASCO'I", hngland Arcadian Heights pulled ofl" a stunning victory in the Ascot Gold Cup here on Thursday, heating the runaway favourite Vintage Crop. Melbourne Cup winner Vintage Crop had to settle for second best, a three-quarter length behind, with Sonus seven lengths back in third.AFP - 48 words
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Article, Illustration105 1994-06-18 24 MANCHESTER L *****,000 ATP grass court tournament quar-ter-finals Thursday: Karel Novacek (Cze) b Mark Petchcy (GB) 6-4 6-1; Jason Stoltcnbcrg (Aust x 5) b Alex O'Brien (US) 6-4 6-4; Wayne Ferreira (SA xl) b Greg Kuscdski (Can x 7) 6-3 5-7 6-3; Patrick Rafter (Aust x 2) b Jacco105 words
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PEOPLE
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Article, Illustration248 1994-06-18 24 MERCEDES-BENZ put on the ritz at the Oriental Hotel earlier this month to christen the birth of a new era for the German vehicle manufacturer. Mercedes' commercial vehicle division began making a new, Asianised light truck, the MB7OO. at its Jakarta subsidiary, PT German Motors248 words
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TIME OFF
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Article, Illustration786 1994-06-18 25 Shahiron Sahari - Shahiron Sahari joined Denmark's ambassador of jazz, Palle Mikkelborg, in what he thought would be familiar territory Shahiron Sahari A SLIGHT and modest performer from the north of Europe took us on a magical trip not just to his part of the world786 words
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Article628 1994-06-18 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. Till July 3. Counter sales for all ticketed shows are on at all Ticket Charge outlets. Call 296-2929. NOTE all shows start628 words
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Article217 1994-06-18 25 The Flying Karamazov Brothers The world renowned comedy/theatre/juggling troupe will swing this way, literally, for a few days and put up performances designed to renew your faith in the dexterity of the human body. Today. 3pm and Bpm: tomorrow, lpm and spm. Tickets at $10. $20, $30. $45 and217 words
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Article131 1994-06-18 25 International Festival Chorus As part of a charity drive, the IFC has agreed to perform the Faure Requiem to raise funds for various children's homes. Donations will be accepted by Great Eastern Life. June 21 and 22, Bpm at St George's Church, Minden Road. Admission is free, but donations131 words
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Article, Illustration332 1994-06-18 25 Singapore Film Society Presents Two movies that won awards at Venice and Cannes. Valid for members of the society only, but membership is available at the door. .-I City ot Sadness Winner of the Golden Lion at the Venice Film Fest in 1989. this film deals with a significant332 words
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Article, Illustration741 1994-06-18 25 Modem Living/Modern Bride '94 As the affluency of the populace increases. those set on tying the proverbial knot can take a look at the various home and wedding products and services that could make their home into an Eden. Till tomorrow. 12pm to 10pm at the ll'orld Trade Centre.741 words
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Article231 1994-06-18 25 Cholesterol and Beyond What's good cholesterol and bad cholesterol? And how does cholesterol affect the human body? Associate professor Aw Ter Choon from the National University Hospital will conduct this forum and give further insight on how to maintain our body's cholesterol levels. Today. 2pm at the Rallies Surgicentre231 words
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Article215 1994-06-18 25 Coin and Banknote Auction Some of the region's rarest numismatic material including a unique collection of 19th-century banknotes and the very first Straits Settlements fivedollar banknote, will be offered for sale. Public viewing: June 23. I lam to 6pm: June 24. 10am to spm. Auction: June 25. 10.30 am.215 words
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Article103 1994-06-18 25 ffinoows Tan Kwank Liang's recents works on urban conservation, featuring the window as an architectural motif that opens into the world. Till June 19. Ham to 9pm at the Gallery. Painting for Beginners Basic practical course on semi-and-pure abstract painting by John Lim. Every Thursday till July103 words
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Article125 1994-06-18 25 Christopher Toh - 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, li'isma Atria. Centrepoint and Tangs. Hotline: 269-2929. %Jf125 words
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EPICURE
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Article, Illustration564 1994-06-18 26 JAIME EE - Bon Appetit By JAIME EE JAZZ GREAT Louis Armstrong is said to be the inspiration for Louis' Restaurant and Oyster Bar, a casual chic eatery in Boat Quay. True enough, posters of the musical legend adorn the walls, while song titles make their way into the menu with564 words
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Article, Illustration495 1994-06-18 26 JAIME EE - By JAIME EE BOAT QUAY restaurants need a good gimmick to survive, and Gourmet Bistro seems to have found one. It's not an ingenious gimmick, just an age old one offer cheap set meals and watch the crowd rush in. And did they. At 12pm, the bistro495 words
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Article835 1994-06-18 26 N K YONG - Wine By N K YONG SOME MONTHS ago I was having lunch in a very "nose-up" three-Michelin star restaurant in Monte Carlo. It was well known for its superb list of fine wines and prided itself on the impeccable provenance of its wines. It was835 words
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Article, Illustration1062 1994-06-18 28 Ace Ventura Pat Detective. Jim Carrey investigates when the dolphin mascot of the Miami football team is abducted. Yishun: 10.50; 5.05. Airborne. Teen movie about rollerblading in Cincinnati. Orchard: 11; 1; 3; 5.30; 7.45; 10. Yishun: 3.05; 7.15; 9.20; 11.40. Bishan: II; 3.05; 7.15; 9.20. Bedok: 2.50; 7.15; 9.20.1,062 words
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Page 17 Advertisements
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Advertisement115 1994-06-18 17 1 in ri ra raj 24-hour "Loan A Information Sonne* Approval" 1800 3 3 4 3588 1 i> 0 0 3 3 J 3 6 8 8 GIFTS BY CARTIER filllMi w^^^m//////ff^i^m i llif IBBK jr Ijj^HHlllllllEJkt#s^^P-*££ jr^ii- ff ir!i^g^'" m,: nw If Ikl I A >a\ f#/ifl'^^ Vs v115 words
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Page 18 Advertisements
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Advertisement144 1994-06-18 18 AUCTION COINS, MEDALS AND BANKNOTES VENUE REGENCY 11, HYATT REGENCY HOTEL, SINGAPORE DATE TIME SATURDAY 25 JUNE 1994 at 1030 am 2.30pm Public View Thursday 23 June, 1 lam-6pm Friday 24 June, 10am-spm Venue Regency I, Hyatt Regency Hotel Over 700 lots of Indian, South East Asian and Australasian coins,144 words
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Page 18 Miscellaneous
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Miscellaneous64 1994-06-18 18 GOCD HeP>V€.NS SO IT IS (I NE-VeR FoRGE-T A\ tlpss© —1/— OK* yoj r f/O) who rccoeep J VTHese (O" "X C AMOOATID WWAHMITB. IM3-IM4 *<)» DOONESBURY GARRY TRUDEAU S&,M#K I ItoUfiNT&eN UJELL. SiR THE FACT I HMIOTtsrvemjBHTeFS m I WO6URB.9R.I9fT IT PCS- I FITIIB&rtFORIHSM&IA I V€PUeiJCFORMSP I LETHBTHNK CAHCtnFeycu&jrscr&m*64 words
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Page 20 Advertisements
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Advertisement22 1994-06-18 20 The difference between Pen just printing !g rH a brochure f Ci and producing l f A GOOD y ONE s I22 words
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Page 23 Advertisements
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Advertisement17 1994-06-18 23 CENTRE STAGE Keep in step with the culture beat. The Arts. Every Monday. "fXSKWOE# FBI Business Times17 words
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Page 24 Advertisements
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Advertisement100 1994-06-18 24 i P A R S I F A L [p_A R S I F A I >. AAj 1 V,. Chronograph with automatic Quart/ mmniu nt m J M movement. Scratch-resistant y* Scratch-resistant sapphire-crystal, f jgHgK' 4 sapphire crystal. nn/llAlin with shielded crown. is' ilßreLtffilitf£.'" t^Smt MM Water-resistant to SO100 words
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Page 26 Advertisements
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Advertisement25 1994-06-18 26 o o o o o LEAD BY EXAMPLE For some of the best examples of good management. Enterprise Management. Every Monday. r 1 Business Times25 words
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Advertisement12 1994-06-18 26 PLAY SMART Be part of the good life. Lifestyle. Everyday. Business Times12 words
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Advertisement105 1994-06-18 26 XFHpEZVOUS OHjOtL HILLTOP With die bustle of Orchard Road at your feel HILLTOP LOUNGE is the ideal place to unwind.Be enchanted by Mnxlqve Manila, a highly versatile 5-metnberband especially brought to yon straight from the heart of Philippines. On their first stint in Singapore, audiences were thrilled by their sensational105 words
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Page 27 Advertisements
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Advertisement1011 1994-06-18 27 Nothing Beats A Bulla WHERE TO WINE, DINE AND ENTERTAIN OF FRESH* .PASTA K>AI LY. W From Pasta Fresco. Tho only restaurant to mako its own specialty pasta. everyday. Savour perfect pizza, great gelatl and terrific tiromisu. All topped with Italian hospitality. NS» hwco Do Sohoton H> Ltd •30 Soal1,011 words
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Advertisement342 1994-06-18 27 ra J =I^6l fancy 'Beijing? Then, we're delighted to suggest the Tine Court for a memorable dining experience. Our lunch menu offers a variety of gjf dian ](in 'Beijing dumplings, a selection IMl| If of set menus, and Beijing specialities J 5 such as 'Beijing ©itc£, Qafyd Tench and Bn«t»MtT342 words
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Page 28 Miscellaneous
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Miscellaneous2541 1994-06-18 28 TODAY'S TV 1 5.05 Pi Mai Pi Mai Tang Tu 7.00 Barita Tempatan. (M). Perarakan Hijrah MBA pm,!,. ft„n 5 r (M). The Princess And The Goblin, Superstars Of Action, 4.30pm, 7.00 Today in France (See Our 10.00 Good Morning Malaysia. 9am, TV 2 SBC 5 Choice). 11.00 Special Documentary.2,541 words
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