The Business Times, 4 March 1995
1995-03-04
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The Business Times
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Title Section12 1995-03-04 1 Business Times MITA(P) 194/12/94 Weekend Edition, March 4-5 1995 WE KNOW ASIA12 words
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Article, Illustration678 1995-03-04 1 FRANKFURT Futures trader Nick Leeson has been jailed by a German court to await the outcome of Singapore's bid to extradite him to answer charges relating to the collapse of British merchant bank Barings pic. A three-man Commercial Affairs Department team ledReuter - 678 words
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88 1995-03-04 1 SINGAPORE Simex and the Monetary Authority of Singapore (MAS) will hold a joint press conference today and are expected to yield details of the Barings situation. Simex Nikkei stock futures ended firmer yesterday as the Japanese stock market stayed resilient against the strong88 words
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476 1995-03-04 1 Neil Behrmann - From Neil Behrmann in LONDON DUTCH Bank and insurer Internationale Nederlanden Group (ING) is frantically investigating Barings pic's operations so that an agreement can be reached by early next week at the latest. The Dutch group, the biggest financial institution in the Netherlands476 words
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94 1995-03-04 1 Reuter AMSTERDAM US brokerage Smith Barney may join forces with ABN AMRO to launch a joint counter offer for Barings pic if Internationale Nederlandcn Groep (ING) fails to seal a deal to take over the collapsed merchant bank, banking sources said yesterday. "ABN AMRO seemsReuter - 94 words
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Article, Illustration505 1995-03-04 1 Anthony Rowley - From Anthony Rowley in TOKYO THE US dollar fell to a record low in Tokyo yesterday, prompting intervention by the Bank of Japan and a chorus Qf alarm from senior ministers and business leaders. Analysts predicted last night that the yen wouldSource: Bloomberg - 505 words
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2am LATEST
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Article70 1995-03-04 1 WALL STREET stocks edged down yesterday as the dollar's freefall reinforced worries about rising interest rates, offsetting strength in a handful of blue chip cyclicals. The Dow Jones industrial average, caught in a tight band, was off 3.12 points at 3,976.81 at Ipm EST. In the broader70 words
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Article56 1995-03-04 1 Stock market indices Friday Change ST 11 closed KLSE Comp dosed Nikkei 17,039.62 +76.44 Hang Seng 8,185.15 -68.18 SET Index 1,262.33 -19.58 Jakarta Comp closed Manila Comp .......2,488.25 -2.39 Taipei WP1 6,516.83 +66.44 Seoul Comp 907.96 4.54 Bombay BSE30 ....3,527.24 +19.92 CLSA China B 816.73 -2.89 Aust All56 words
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Page 1 Advertisements
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Advertisement101 1995-03-04 1 @~`(}&~*%`\:@`+@`/!|/*.>&~)%^(" BUSINE 55 E S LIFESTYLE EXCLUSIVE Win a historical field trip in BT contest IF you've ever had the breath knocked Indonesia and China to view the reout of you at the awesome sight of gion's most stunning man-made China's Great Wall or India's Taj Ma- monuments hal, now's101 words
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Advertisement63 1995-03-04 1 Retail industry: Pg 14 Pret-A-Porter, Singapore-style Leeson's losses on Simex outweigh Osaka profits, Pg 2 Auditors warned top Barings executives that Leeson could override controls, Pg 2 ING a major player in Asia if it buys Barings, Pg 2 M'sia can do without derivatives: Mahathir, Pg 2 Day-by-day recap of63 words
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Advertisement238 1995-03-04 1 Market Watch: p g 6 Gains for firms linked to Renong, UEM Timeless values. Empire Period. vx-aWP Geneva enamel. Duplex escapement movement '<|® v "tery o/ London. These two exquisite watches, The Rolex Day-Date in the shape of peaches, are W is appreciated for more called «For China». just the238 words
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Advertisement54 1995-03-04 1 (_^^<=$'|"_~]=[+'"%&}'>+-()'~*\ CONTENTS News TV Rate 20 Regional News 4 Companies World News 4.5 SporeKsia Features 910 Barings Debacle 2.3 Markets Personal Finance 15 Regional 12.13 Review Trwd/Arts 16 World 12 Sports People 1/ Currenaes 10 Epwire 18 Sm« Commo .10. 11 SrtscriptiM Id 1800 /*****7 fai *****75 BT Newsdcsk Tel54 words
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THE BARINGS DEBACLE
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Article, Illustration451 1995-03-04 2 Conrad Raj - By Conrad Raj SINGAPORE Nick Lecson's losses on the Singapore International Monetary Exchange often far exceeded the profits he made on his account with the Osaka Securities Exchange, sources say. Leeson apparently operated two trading accounts on a discretionary basis ***** for OsakaReuter - 451 words
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258 1995-03-04 2 Bernama KUALA LUMPUR Prime Minister Mahathir Mohamad said yesterday that Malaysia can do without derivatives trading as it is a form of gambling which can bankrupt a financial institution. tven a small mistake in such trading could cause a bank, however big, to collapseBernama - 258 words
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Article, Illustration539 1995-03-04 2 FT LONDON Senior executives of Barings, the collapsed merchant banking group, were told by internal auditors last August that there was "a significant general risk" that Nick Leeson, its Singapore trader, could override controls. A three-man team of internal auditorsFT - 539 words
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645 1995-03-04 2 Neil Behrmann - Baring Securities' presence in emerging markets the major draw for Dutch bank From Neil Behrmann in LONDON THE Internationale Nederlanden Group will be a major force in Asia and other emerging markets if its bid for Barings pic succeeds. "We645 words
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Article, Illustration1154 1995-03-04 3 IT WAS the oldest and the most respected merchant bank in Britain. But on Sunday 26 February, the house of Barings came crashing down as news of its massive loss in derivative trading hit the headlines. And the hunt was on forReuter - 1,154 words
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Article, Illustration311 1995-03-04 3 BARING FUTURES (Singapore) general manager and chief trader Nick Leeson appears to have started buying the Nikkei-225 futures early this year, and his buying accelerated after the Kobe earthquake on Jan 23. At a press conference on Monday, Bank of England governor Eddie George said thatSource: Bloomberg - 311 words
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Article, Illustration551 1995-03-04 3 Compiled by Business Times IHU, Feb 23, Singapore. Nick Leeson's Great Escape begins with a drive across the Causeway in a hired white Mercedes Benz. He arrives in Kuala Lumpur and checks in at the 5-star Regent Hotel at around midnight. Registering as Nicholas Leeson. heCompiled by Business Times - 551 words
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Page 2 Advertisements
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Advertisement698 1995-03-04 2 S9 CHUAN HUP HOLDINGS LIMITED ANNOUNCEMENT The Directors of Chuan Hup Holdings Limited are pleased to announce the unaudited results of the Company and the Group for the half-year ended 31 December 1994 31.12.94 31.12.93 Co Group Co Group Co Group SS'OOO SS'OOO SVOOO Si'ooo 1 (a). TURNOVER 5,451 42,806698 words
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Advertisement28 1995-03-04 2 /WC f JUST CALL 1800-737-1166 Make the connection through The Straits Times Classified when you're looking for bargains or looking for customers. Just give us a call. CATJ&28 words
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Advertisement36 1995-03-04 2 Corporate Security Advisory Service (C SA Sj Tel: (65) *****01 Fax: (65) *****90 Pager No: *****99 Postal Address:Taman Warna P.O. Box 0233 Singapore 9127 Special Investigations and Security Advisory Associates: Hong Kong, Australia, USA, New Zealand.36 words
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Page 3 Advertisements
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Advertisement28 1995-03-04 3 *2 O:. »~3 C^-iW? the ice with a conversation piece from Sunday Gallery a Sunday Classified special A&A on antiques, collectors' /v% items, and arts crafts L^l^J S%£%si>r*»*-s2CT*28 words
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REGION/WORLD
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429 1995-03-04 4 Murayama aides and opposition in war of words Reuter TOKYO A scandal over the rescue of two Japanese credit firms flared into a vicious war of words yesterday, with Prime Minister Tomiichi Murayama's government and the opposition blaming each other over the affair.Reuter - 429 words
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Article, Illustration48 1995-03-04 4 Reuter SYDNEY Four Australians enjoying a champagne breakfast while suspended from a bridge in Sydney's Darling Harbour yesterday to promote the launch of two movie channels on Australia's first pay television service. The stunt was a copy of one performed in the movie, Cliflhanger. ReuterReuter - 48 words
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226 1995-03-04 4 Anthony Rowley - From Anthony Rowley THE Bank of Japan's quarterly survey of business eonditions released yesterday provided some hope for continued economic recovery, despite the ravages of the Kobe earthquake and signs that a new crisis may be brewing in the Japanese financial system. This226 words
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197 1995-03-04 4 AP TOKYO A top US official yesterday said Washington would not let trade tensions damage the security relationship with Japan. The US and Japan have been engaged in sometimes acrimonious talks over getting Japan to increase imports, but a recent DefenceAP - 197 words
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282 1995-03-04 4 AFP WASHINGTON US Trade Representative Mickey Kantor is to pay his first visit to China next week, US officials said on Thursday, after the two sides reached a last-minute agreement on protection of intellectual property rights in China. The weekendAFP - 282 words
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264 1995-03-04 4 AFP PARIS Officials of China and the OECD countries met here on Thursday for the firstever OECD-sponsored caucus on China's integration into the world economy and its trade and financial interaction with the OECD area. The two-day meeting, officially described by the OrganisationAFP - 264 words
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278 1995-03-04 4 Bloomberg Business News Reuter SYDNEY Australian net foreign debt rose slightly in the December quarter for the first time in five quarters, and economists said it may be on an upward trend. Analysts said yesterday that net foreign debt rose in theBloomberg Business News; Reuter - 278 words
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Page 4 Advertisements
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Advertisement410 1995-03-04 4 of ingenuity. In the passage of time, they stand tSSd' c proud and strong, |ike silent sentinels f is a stony witness to centuries of historical fa/** witness the Wonders of Asia, brought to you by Asia Life and Asia jjk A 1 i Second Prize: An BD/7N g JMW410 words
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THE WORLD
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Article, Illustration445 1995-03-04 5 NYT WASHINGTON The United States Senate narrowly tailed to adopt a constitutional amendment requiring a balanced federal budget, reshaping in one stroke both the political landscape and the prospects for further deep cuts in government spending. After days of persuasion, the RepublicansNYT; Reuter - 445 words
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237 1995-03-04 5 Reuter WASHINGTON The US wants to start afresh on the selection of a new chief for the World Trade Organisation (WTO) because no acceptable candidate has been put forward, Deputy US Trade Representative Charlene Barshefsky said on Thursday. Ms Barshefsky told reporters afterReuter - 237 words
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396 1995-03-04 5 AP WASHINGTON In an apparent effort to draw the US into closer political, economic and security ties with the European Union, a top German official suggested on Thursday the creation of a new "TransAtlantic Covenant". "The United States needs to be brought more directlyAP - 396 words
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281 1995-03-04 5 Reuter OTTAWA Canada told the European Union on Thursday to back off from plans to increase its catch of fish in the North Atlantic off Canada's east coast. Canada says it will act to protect dwindling stocks ofReuter - 281 words
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240 1995-03-04 5 Reuter SAN FRANCISCO Executives from some major chip and computer makers predict that annual sales of personal computers will double to 100 million in 1998 or 1999 from 50 million in 1994. Speaking at a technology conference panel onReuter - 240 words
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323 1995-03-04 5 Bloomberg Business News LONDON The British economy is growing at a more sustainable rate because of recent increases in interest rates, UK Chancellor of the Exchequer Kenneth Clarke says. The interest rate rises were designed "to ensure that we growBloomberg Business News - 323 words
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Page 5 Advertisements
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Advertisement218 1995-03-04 5 I It's often said that no two people have the same needs. And at Asia Life and Asia Insurance, we couldn't agree more. Which is I I why we provide a wide range of policies to suit the particular needs of all our policy holders Whatever your circumstances- just I218 words
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COMPANIES & MARKETS
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468 1995-03-04 6 NST KUALA LUMPUR Last year was another bountiful year for the stockbroking fraternity despite somewhat less activity compared with »993. For those employed by the industry, rewards came in the form of bonuses and other perks. For example, at least two firmsNST - 468 words
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276 1995-03-04 6 NST MELBOURNE The prospects are bright for Malaysia Mining Corporation Bhd (MMC) in its expansion in Australia as three of its executives take their seats on the board of diversified products manufacturer National Consolidated. National Consolidated, the cash-starved former subsidiary of the failedNST - 276 words
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217 1995-03-04 6 MBT KUALA LUMPUR SHL Consolidated Bhd, an integrated property development group, is offering 18.627 million shares at M 51.40 (550.79) each in its flotation exercise on the main board of the Kuala Lumpur Stock Exchange. Malaysian International Merchant Bankers Bhd (MIMB), as adviserMBT - 217 words
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505 1995-03-04 6 MARKET WATCH MBT KUALA LUMPUR Construction of the second crossing between Malaysia and Singapore, a mammoth project consisting of a bridge and expressways, is expectcd to be farmed out to construction companies having strategic links to Renong Bhd, United EngineersMBT - 505 words
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239 1995-03-04 6 KUALA LUMPUR Bukit Punchor Development (M) Sdn Bhd has taken a step closer to the biggest project ever catering to the needs of small and medium-sized industries (SMIs) in the north, according to The Star newspaper. The company, a subsidiary of Mulpha International239 words
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Article, Illustration467 1995-03-04 6 Jenny Lam - By Jenny Lam SINGAPORE Scotts Shopping Centre is renovating its second floor to the tune of $1 million to woo fashionable women in a competitive retail market. Centre manager Susan Leng told Business Times the change was to make it a "strong officewear floor for467 words
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COMPANIES
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407 1995-03-04 7 Maggie Ford - Nasdaq-listed group attributes boom to higher capacity From Maggie Ford Pr TRI Polyta, the Indonesian petrochemical company listed on New York's Nasdaq, has raised 1994 net profit by 231 per cent, helped by a boost in plant capacity. Sales rose by 68407 words
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227 1995-03-04 7 Bloomberg Business News BANGKOK Shinawatra Computer Communications pic saw earnings fall 29.3 per cent in the fourth quarter of last year because of losses in a satellite venture. The company said its consolidated net profit in the final quarter of 1994 was 325.5Bloomberg Business News - 227 words
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COMPANY BRIEFS
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80 1995-03-04 7 Reuter TOKYO The Ministry of Finance has eased rules on dividend payments by brokerages from the current fiscal year to March 31, an official said yesterday. The new rules will allow securities firms to decide their dividend payments freely, provided the firm maintains aReuter - 80 words
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65 1995-03-04 7 Saatchi Saatchi to delist from TSE Bloomberg Business News TOKYO The UK advertising company Saatchi Saatchi Co pic has filed an application with the Tokyo Stock Exchange to take its shares off the foreign section of the exchange. Saving the fee to list on the Tokyo exchange is a partBloomberg Business News - 65 words
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Article69 1995-03-04 7 Bloomberg Business News ZURICH CS Holding, the Swiss financial services group, said on Thursday that 1994 net profit fell 22.1 per cent to 1.33 billion Swiss francs (SSI.S billion), after payments to minorities. It said income from trading fell 52 per cent to 2.48 billionBloomberg Business News - 69 words
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Article43 1995-03-04 7 Bloomberg Business News AUCKLAND New Zealand-based brewer Lion Nathan Ltd yesterday said the rising New Zealand dollar will reduce its earnings from its Australian subsidiaries, which account for 75 per cent of its assets. Bloomberg Business NewsBloomberg Business News - 43 words
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Article559 1995-03-04 7 u iMiiMmmBMnrrwi Managers prices Mar 4 A 6 US Gr Fund 0.99 1 03" Singapore Unit Trust UOB Asset Mgt Ltd The Commerce 1.61 1.70 Unifund 1.34 1.40 The Savings Fund 1.45 1.53xd Unibond+ 1.015 1040 Spore Prog Fund 0.59 0.63 United Gr Fund 1.56 1.63 Spore Sec Fund 0.95559 words
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Article, Illustration70 1995-03-04 7 Reuter HANOI Philippine San Miguel Corporation vice-president Raul Hernandez (second from left) lowering a time capsule as Vietnamese officials looked on during the groundbreaking ceremony of a U5527.3 million (5539.6 million) glass plant in the northern port city of Haiphong on Thursday. The San MiguelReuter - 70 words
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303 1995-03-04 7 Bloomberg Business News HONGKONG The Hongkong government has approved an application by Hong Kong Telecommunications to hold a commercial trial of video-on-demand despite fierce opposition from the territory's sole cable television operator Wharf Cable. The HKS64 million (Ssl2 million) trial covering about 400Bloomberg Business News - 303 words
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121 1995-03-04 7 AFP TOKYO Japan s NEC Corp has acquired about one per cent of Indonesian telephone contractor PT Bakrie and Brothers for US$3 million (554.35 million), hoping to win orders for 750,000 lines, a spokesman said yesterday. The spokesman said NEC also planned toAFP - 121 words
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585 1995-03-04 8 Bloomberg Business News SYDNEY Embattled Australian food group Goodman Fielder Ltd said yesterday firsthalf net profit slumped 67 per cent on poor performance in its consumer foods, poultry, European and New Zealand operations. The company also named Macquarie Bank executiveBloomberg Business News - 585 words
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199 1995-03-04 8 Bloomberg Business News PARIS Banque Indosuez, the investment bank owned by Compagnie de Suez SA, is confident it will return to the black this year. On Tuesday, Indosuez said it swung to a 1994 loss of 1.09 billion French francs (SS3O6 million) from aBloomberg Business News - 199 words
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280 1995-03-04 8 AFP WASHINGTON Sprint, France Telecom and Deutsche Telekom have delayed a transAtlantic alliance that was to have gone into effect at the start of the year. Sprint said on Thursday. "The process of evaluating assets took a little longer than expected," saidAFP - 280 words
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Article, Illustration549 1995-03-04 8 Controversy centres on German magazine report of CEO's business dealings Reuter LONDON Tiny Rowland dismissed on Thursday from Lonrho pic, the conglomerate he founded 34 years ago has threatened to sue the company and its German chief executive. Dieter Bock. Mr Rowland was sackedReuter - 549 words
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327 1995-03-04 8 Bloomberg Business News DALLAS Kimberly-Clark Corp is attracting shareholders' ire because of one of its lesser known businesses: tobacco. Kimberly-Clark is known for its Kleenex tissues and Huggies nappies, and as a maker of surgical gowns and sterile wraps for hospitals. Still, the Dallas-basedBloomberg Business News - 327 words
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SHIPS IN PORT
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Article385 1995-03-04 8 Vessel Voy No Berth Arrival Departure Vessel Voy Wo Berth Arrival Departure Jurong Port Kakmantan 1 A7/95 P03 04 03/0830 04 03/1500 Asprtotoros 1/% )19 alongside 0403/2300 Karabieveret 21E P04 0303/2215 0503/0900 Fast Lift 5/95 12 alongside 0403/1500 Lampung laya 2A/95 P03 0403/1300 0403/1600 lava Oofchm 8385 words
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Article1654 1995-03-04 8 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO RECEIVING OF EXPORT FCL CONTAINERS AND LCI CARGO Record Bootung/BaJance Rslts Ship Voy No Etb/Btr Period From To From Ac. lade 228A 05 0800 IB 03/1500 03/1669 03/1900 28 03/1/00 04/0659 04/0900 4 04/1200 04/1459 04/1/00 MaBhom 193S 05/2300 IB1,654 words
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FINANCE & COMMODITIES
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423 1995-03-04 9 Bloomberg Business News HONGKONG First therewas hype, then hysteria and finally litigation. Now, US investment banks are realising they will have to take the slow boat to China if they want to make money. While Lehman Brothers Inc and MerrillBloomberg Business News - 423 words
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265 1995-03-04 9 AP NEW YORK Two of the biggest banks in the US, which both lent money to a former welder turned financier indicted for fraud, are brawling in court over whether one should have warned the other about the trickster. Citicorp, theAP - 265 words
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Article, Illustration193 1995-03-04 9 Reuter MANILA The Philippine Central Bank has imposed a further tightening of banks' foreign exchange trading positions. Governor Gabriel Singson said in a statement that US dollar-denominated letters of credit and trust receipts would now be included in calculating banks' foreign exchange assets.Reuter - 193 words
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377 1995-03-04 9 Bloomberg Business News SEOUL South Korea's Ministry o! Finance and Economy on Thursday ordered the suspension for 10 days of trading in shares of the erumbling C hungbuk Investment Finance Corp. The short-term financing company became insolvent early this week when depositors rushedBloomberg Business News - 377 words
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SMALL CHANGE
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113 1995-03-04 9 Reuter BANGKOK Bangkok Bank pic has fine-tuned its deposit rates backdated to March I following the Central Bank's bank rate rise to 10.5 per cent from 9.5 per cent. The rates still range from 9.75 to 10.5 per cent but depositors of 5 million bahtReuter - 113 words
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60 1995-03-04 9 Reuter HONGKONG Hongkong's First Pacific Capital Ltd has mandated Standard Chartered Markets to arrange a five-year US$5O million (5572.5 million) floating rate note (FRN) issue to be guaranteed by First Pacific Co Ltd. Standard Chartered said the proceeds would be used to refinance anReuter - 60 words
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83 1995-03-04 9 Reuter TAIPEI Taiwan's Securities and Exchange Commission (SEC) has given approval to three companies to set up new securities finance firms to ofTer margin loans for stock trading, the semi-of-ficial Central News Agency (CNA) said on Thursday. The new firms are International Securities, Fubon SecuritiesReuter - 83 words
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Article51 1995-03-04 9 Reuter NEW YORK Western Union Financial Services International, a unit of First Financial Management Corp, has added China to the company's international money transfer network. Western Union said on Thursday that China residents can now receive money from abroad in other countries served by theReuter - 51 words
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64 1995-03-04 9 Reuter LONDON British insurer Sun Alliance on Thursday announced a solid rise in 1994 profit to £316 million (***** million) from £222 million a year earlier. It said the improvement was fuelled largely by a strong British performance helped by mild weather, a reducedReuter - 64 words
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176 1995-03-04 9 Bloomberg Business News SYDNEY The Sydney Futures Exchange yesterday lost its appeal against a court decision allowing the Australian Stock Exchange to classify its new low-exercise price options (LEPOs) as securities rather than futures contracts. The SFE said the court's decision helps the ASEBloomberg Business News - 176 words
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508 1995-03-04 10 Bernama-Kyodo, Reuter HO CHI MINH CITY An international consortium led by US oil giant Mobil Corp has abandoned its exploratory oil well in Vietnam's Thanh Long (Blue Dragon) offshore oil field because of "mechanical reasons", a Mobil executive said on Thursday. Robert Gaca,Bernama-Kyodo,; Reuter - 508 words
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179 1995-03-04 10 Knight-Ridder JAKARTA— Iwo Indonesian firms signed a joint venture agreement with two Japanese corporations to produce instant and ground coffee, Kyodo news service reported a local newspaper as saying on Thursday. Under the agreement signed on Wednesday, the joint venture, PT AnekaKnight-Ridder - 179 words
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365 1995-03-04 10 Reuter NEW YORK The US oil refining industry is already braced for a difficult earnings period, even though 1995's first quarter is just two-thirds complete. The nation's largest producers of heating oil and gasoline, plaguedReuter - 365 words
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258 1995-03-04 10 ENERGY REPORT Reuter LONDON World oil prices yesterday regained some of the ground lost earlier this week on a sudden show of strength in European heating fuel markets. Benchmark Brent Blend crude for April delivery on the International PetroleumReuter - 258 words
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Article295 1995-03-04 10 Bloomberg Business News LONDON The dollar set a record low against the yen for a second day and fell against other currencies as coordinated intervention by central banks only served to whet traders' appetite for quick profits. "It's almost as if intervention triggered the selling." said Tim Fox.Bloomberg Business News - 295 words
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Article, Illustration1654 1995-03-04 10 liadr-uetfhiaj index cakulaterf a*am\i S pore s top 14 trading pailners Saw year l9Sf US$/S$ forward rates Noon /Mar 2 ss Bid Offer 1-month 1.4459 ***** 2-month ***** 1.4439 3-month 1.4392 1.4407 6-month 1 4304 1.4324 Soun r OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES As at 9am on Mar1,654 words
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COMMODITIES & FUTURES
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Article1371 1995-03-04 11 SIMEX REPORT Reuter SINGAPORE A sinking US dollar helped buoy Simex Euroyen futures but put pressure on Eurodollar futures in a holiday-thinned session. Euroyen futures climbed on the strength of the yen, as this boosted buying of Japanese government bonds, dealers said. But dealers saidReuter - 1,371 words
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426 1995-03-04 11 Rubber IOKYO: Rubber futures closed firmer after succumbing to prof-it-taking after early rises, reflecting dealers' buying on their own accounts, traders said. Prices ranged from 0.1 to 2.9 yen per kg firmer. Benchmark August rose 2.9 yen to close at its life-of-con-tract record high426 words
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KNIGHT-RIDDER COMMODITY SUMMARY
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Article103 1995-03-04 11 KANSAS CITY Sri Lanka has purchased 50,000 tonnes of US soft wheat under the Export Enhancement Programme yesterday morning, while at the same time USDA rejected a bid for 50,000 of hard wheat. US exporters said. Sri Lanka on Thursday bid for 50,000 tonnes103 words
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102 1995-03-04 11 CHICAGO Live cattle futures are expected to open steady amid pre-weekend profit-taking on short positions after Thursday's sharp decline. Fed cattle cash prices in the Southern Plains are expected to be steady, with top prices at US$74 (S$ 107) per CWT. Week-ago and year-ago102 words
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Article128 1995-03-04 11 LONDON The most notable feature of the precious metals market yesterday morning was gold's failure to make progress despite the problems of the US dollar on international foreign exchange markets. Dealers said some buyers were trying to lead the market higher as the dollar touched128 words
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Article131 1995-03-04 11 LONDON Traders' disappointment with Thursday's EU tender award resulted in a weaker tone in the French domestic grain market. French traders said. The only award was for 20,000 tonnes of open market barley at 64.99 ECU. This was one of two bids. One bid to export131 words
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Article124 1995-03-04 11 CHICAGO Soybean futures are being called steady to fractionally higher. Futures could draw initial support from another week of moderate export sales, at 422.300 tonnes, suggesting the full bite of the Brazilian harvest has not hit the US yet. The weekly crush of 28.649 million124 words
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Article1477 1995-03-04 11 Rubber Mar 2 Singapore Commodity Exchange Physical Pricts (future* dosing a» at 5.30pw) BvyerTselkn As at 12 noon (S cents/kg) RSS 1 Contract (S cents/kg) Close Volume Open KSS 2 Apr 95 262.50 263.50N Month High Low Sect (tonnes) Interest RSS 3 Apr 95 261.50 262.50N Apr 951,477 words
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REGIONAL STOCK MARKETS
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Article1069 1995-03-04 12 -13.3 FEARS of rising interest rate's to curb Australia's economy and a falling Wall Street sapped confidence and led shares to a lower close, brokers said. Brokers said bears took over the market as fears of higher domestic rates to curb strong retail spending combined with expectations of increase1,069 words
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Article631 1995-03-04 12 -2.39 Stocks slid by a mere 0.09 per cent as foreign investors maintained indifference. The Composite Index fell 2.39 points to 2,488.25. Turnover was 2.32 billion shares valued at 733 million pesos. Brokers blamed the dull market on the absence of any news that might bring in investors, particularly631 words
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Article469 1995-03-04 12 +4.54 Share prices managed a marginal gain to advance for the second consecutive day. The Composite Price Index moved up 4.54 points to close out at 907.96 points in see-saw trading. Turnover swelled to 26.34 million shares valued at 430.94 billion won. Rises outnumbered falls by 477 to 283.469 words
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Article552 1995-03-04 12 +66.44 Stocks rallied across the board in cautious trading, with all eight major categories of shares enjoying modest gains. The 419-issue Weighted Price Index put on 66.44 points to finish at 6,516.83. Turnover dwindled with 829 million shares worth NTS 36. II billion changing hands. Rises outstripped falls 294552 words
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Article336 1995-03-04 12 -18.13 Shares ended lower on light volume, led by weaker overseas markets and a disappointing result from dual-listed food group, Goodman Fielder. A two-cent fall in Brierley Investments to NZ$l.l2. after its steady first-half result on Thursday, was also blamed for the bearish tone. The NZSE-40 Capital Index336 words
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Article76 1995-03-04 12 19.92 Renewed speculative buying towards the close helped share prices to erase early losses to end stronger, brokers said. "There was enough liquidity on the market and most deals went through easily. Most shares off-loaded by the local mutual funds were picked up by speculators," said a broker. The76 words
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WORLD STOCK MARKETS
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Article794 1995-03-04 12 -13.1 BLUE chip stocks ended the session with extended losses, hurt by a weaker Wall Street and continuing pressure on the dollar, traders said. They believed the recent soft trend will continue next week, with sentiment tempered by political concerns, fears of rising inflation and turmoil for the dollar.794 words
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Article184 1995-03-04 12 -12.11 French stocks fell, with companies generating a large share of their revenue from exports among the hardest hit, as the dollar reached an all-time low against the Japanese yen. Stocks tracked bonds lower, following the lead from US Treasuries as a result of the dollar weakness. Oil stocks184 words
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Article188 1995-03-04 12 -9.17 German shares closed mixed but at lower levels, still holding above the key 2,100-point level in thin trading. Central bank dollar interventions helped steady the market, but dealers were still worried about the unit. Hopes for an IG Metall strike settlement were also supportive. The 30-share DAX Index188 words
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Article148 1995-03-04 12 -146 Italian share prices tumbled after hard right leader Gianfranco Fini warned that the Freedom Alliance of former premier Silvio Berlusconi might vote against the government's budget. The Freedom Alliance was meeting to decide its strategy on the 20 trillion lire package. Fini said the Alliance, which had previously148 words
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Article203 1995-03-04 12 1.39 Belgian stocks closed mixed amid a rebound by this year's biggest loser among leading shares. Union Miniere, and a fall in Solvay. The market was also depressed by the dollar's continuing slide, to a 2'/> low against the Belgian franc. The dollar was last down 68 centimes at203 words
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Article129 1995-03-04 12 -l.lpc The Stockholm bourse fell sharply as the OMX Index closed down I. I per cent. Shares were pulled down by rising bond yields and weak bourses in Europe and the US. Turnover was moderate at two billion crowns. "The combination of a falling crown, rising bond yields, a129 words
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Article293 1995-03-04 12 -1.07 Dutch shares closed at their lows on the day in slack business, depressed by a Wall Street fall overnight and weakness in the dollar. Dealers said they were sceptical that yesterday's two rounds of concerted central bank intervention to support the dollar would have any lasting impact. The293 words
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Article300 1995-03-04 12 10.5 South African industrial shares ended a slow day mixed as some afternoon support took shares oIT their lows, but provided little direction, dealers said. Golds were still mostly soft amid concern about bullion prospects ahead of the weekend and the firmer financial rand had capped key stocks. The300 words
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Article250 1995-03-04 12 -30.0 Swiss shares fell more than one per cent in moderately active trade as the dollar's fall, weak bond markets and CS Holding's weaker-than-expected 1994 result put pressure on the market. Next week's market would depend a great deal upon the dollar, dealers said. Some said the market might250 words
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Article237 1995-03-04 12 -0.64 Stocks eased in sluggish early trading due to depressed North American debt markets, with a quiet session seen, traders said. The TSE-300 Index edged down 0.64 point to 4,080.57 on volume of 5.53 million shares valued at C 572.70 million. Declining issues outpaced advances. 115 to 103, with237 words
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Article566 1995-03-04 12 Vienna \i ar AHA l0 Rjnk \uMru PS ;c n bvv/ im Icsk'jm MnSaHMVZ W < >t MV V/ 1005 VA Tcvhm**K 1110 VMMtal W t M* x iff J f WnlKltOH J**' Vmr lnwrw li/xwB-v#**"" Nasdaq M" 2 +7\do4pti < 0OT5 Brewing 16 K Apple Computer Lid 40 unch566 words
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Article744 1995-03-04 12 -4.84 The Dow Jones Industrial Average, which fell 14.87 points on Thursday, was down 4.84 to 3,975.08 at 1 lam EST. The key barometer dipped 18 shortly after the market opened. The New York Stock Exchange Composite Index was off 0.85 to 262.51, while Standard Poor's 500-stock Index744 words
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Article, Illustration2978 1995-03-04 13 Bloomberg Business News HONGKONG Stocks fell, as a slumping US dollar tarnished investments denominated in the territory's currency and triggered concerns that interest rates may rise soon. "Typically when the US dollar is weak, the dollar-linked markets in Asia do not perform well," said a broker. The Hang SengBloomberg Business News; Source: Bridge Info - 2,978 words
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Article, Illustration608 1995-03-04 13 CLSA HONGKONG H shares closed down 1.3 per cent on turnover of HK.566.3 million. Shanghai Petrochemical came under heavy selling on concern over the impact of possible redemption on Barings' investment funds. The counter was the biggest loser, down 4.3 per cent on turnover of HKS3I.6 million. The ShanghaiCLSA - 608 words
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Article, Illustration2523 1995-03-04 13 Bloomberg Business News TOKYO Stocks rose, led by electronics shares as investors reacted to positive economic news and concern eased about the fallout from the collapse of Barings. "Now that Barings' problems have been discounted, investors are reacting to good news," said an analyst. "The earthquake may have slowedBloomberg Business News; Source: Bridge Info - 2,523 words
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Article, Illustration1817 1995-03-04 13 Reuter BANGKOK Stocks closcd down but off the day's lows on selling of blue chips after a rise in the bank rate here and bccausc of the falling dollar. The SET Index closed 19.58 points lower at 1,262.33 after touching 1,256.66. There was a moderate turnover of 62 millionReuter; Source: Bridge Info - 1,817 words
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Page 6 Advertisements
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Advertisement38 1995-03-04 6 """business day Thailand's First International Business Daily Dedicated to Cover all Business News in Thailand and around South East Asia at select 7-eteven, Cold Storage and Times The Bookshop For subscription enquiries, please call our hot-line at *****7738 words
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Advertisement341 1995-03-04 6 MFlline ENGLISH NUMBER Children's Funland The Great White Planet 910 0001 Usborne Book Line The Bath Assault 910 0002 Horse Racing Results 4/3, Sat 911 0001(*) 4D/SWeep/Toto Draw No 951 911 0002(*) Tele-GameS Crack The Safe A Mrs Wizards's 911 0003 Crystal Ball 7 Mensa Line I Brain Hunt '95:341 words
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Page 7 Advertisements
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Advertisement255 1995-03-04 7 MK.VV 'Mfe -v, If it. WBB®» -tuiMfci,- _*-> J %c^&s£ The Vitara 4WD range from Suzuki. Built to venture far j^^^^^^^B^BHßßß^BßßßH^^Sfe*.wlp! rr^ beyond the limits of the ordinary. With a clever blend of engineering and design technology to make it a truly Z K^^wll versatile vehicle. Perfect for fun runs255 words
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Page 9 Advertisements
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Advertisement33 1995-03-04 9 F to the Chillingham Toy worth ||t %s£ transactions, conduct L rcscart^fcnto' betweenj?84 ii.. .Jr. jf tax code to memory, wgfa;f Jf j \/Hir fricnds to you a few million dollars, and m33 words
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Page 10 Advertisements
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Advertisement630 1995-03-04 10 IJ3E U pel LIMITED 1 (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors is pleased to announce the unaudited results of the company and the group for the half year ended 31 December 1994. THE GROUP THE COMPANY 31-12-94 31-12-93 31-12-94 31-12-93 Ss'ooo SS'OOO SS'OOO SS'OOO 1.630 words
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Page 11 Advertisements
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Advertisement82 1995-03-04 11 Financial News Kjal A Quick Look At The I Mfl I Market I Call 24 hours a day for SES KLSE midday I I reports, closing I market reports and business news. Cost: 30 cents a minute Organised by: An SPH AudioTex Service BUY<* SELL* FIND,/ Classified ads are purr...feet82 words
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Advertisement20 1995-03-04 11 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead.20 words
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Page 12 Advertisements
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Advertisement19 1995-03-04 12 fffpßS PORT SHOTS The latest in sea, air and land transportation. V~ I rI 1 Business Times 1 WtiKMOWASIA19 words
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Page 13 Advertisements
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Advertisement41 1995-03-04 13 BusinesslT Every Monday, in Business Times The Jakarta Stock Exchange was closed yesterday and will remain closed on Monday. Trading resumes on Tuesday HIGH STAKES Don't get shortchanged, go for a coverage you can bank on. Financial News. Everyday. Business Times41 words
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Executive Lifestyle
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Article, Illustration1581 1995-03-04 14 Corinne Kerk - Corinne Kerk was in Hongkong recently to attend a major European fashion fair which is scheduled to come to Singapore this year. She assesses the impact on the local fashion retail industry Corinne Kerk PRET-A-PORTER shows may right now be confined to the glamorous runways1,581 words
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STRAWS N THE WIND
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Article65 1995-03-04 14 WITH the Barings' crisis grabbing all the headlines, even the man in the street is talking about rogue dealer Nick Leeson. Like one hairdresser who. when the news first broke on Monday, said to his customer "Isn't it terrible about that fellow Barings? He ran away with all65 words
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Article18 1995-03-04 14 GUESS what's the hottest 4-d number this weekend. It's 0502, Leeson's apartment number in Anguilia View.18 words
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Article47 1995-03-04 14 HERE'S what a British tabloid has to say about Leeson: "He boasted that he would be able to retire at the age of 29. He was one year ahead of plan. The trouble is, he has made 4.000 other folk retire at the same time."47 words
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Article68 1995-03-04 14 The offer by Dutch bank Internationale Nederlanden Group, better known as ING, to purchase Barings pic and its debts for all of £1 led one wag to come up with this cheap idea: If ING succeeds, it should send someone with a hammer and chisel to turn the68 words
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PERSONAL FINANCE & INVESTMENT
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BULLS EYE
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Article, Illustration472 1995-03-04 15 Those polled on their views of the Singapore stock market for the week ahead: Alliance Securities, Credit Lyonnais Securities, Daiwa Research, DBS Investment Research, G K Goh, Kay Hian James Capel, Morgan Grenfell, Nomura, Phillip Securities and Smith New Court. Buy! DBS Investment Research (Mar472 words
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Article, Illustration444 1995-03-04 15 Paul Schymyck - Paul Schymyck Regional economist HG Asia he Mexican crisis I will prove to be a A bonus for Indonesia as it will take the heat off the economy. Indonesia grew by about 7.2 per cent last year and growth should stay around this level in 1995. The444 words
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Article, Illustration914 1995-03-04 15 Paul Leo - THE WEEK By Paul Leo LIKE a B movie, the week started with a bang when the Barings debacle broke out, threatening to bloody the market. But no, the damage was contained. Later in the week, when the market914 words
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Article, Illustration499 1995-03-04 15 Andrew Pearson - Eve on the region Andrew Pearson is bullish on the long-term prospects of the Jakarta bourse despite the uncertainties Andrew Pearson The writer is research director of PT Peregrine Semi Securities THfc market •#®eccf<ittd from a trough in late January, rebounding above the 450 levelSource: Bridge Info - 499 words
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Article, Illustration933 1995-03-04 15 UP, DOWN or sideways? No, we are not talking about property prices. Rather, we are referring to the other great Singaporean fixation: Certificates of Entitlement for cars. Despite all that have been said and done about the COE, the subject continues to generate intense933 words
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LEISURE
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Article, Illustration609 1995-03-04 16 ALAN LEE - Travel By ALAN LEE Alan Lee is a photographer who contributed this article to Executive Lifestyle DO YOU ever feel the need for a change of scenery? To just get away from the city as we Singaporeans know it, and go in pursuit of differentPhotos by Alan Lee - 609 words
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Article, Illustration458 1995-03-04 16 SUSAN TSANG - Exhibitions By SUSAN TSANG THEY use dots to paint and one of their favourite motifs is the concentric circle. Just about everything in their paintings is reduced to a symbol, but Australian Aboriginal art is almost as hot as the artists' desert home. We have458 words
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Article, Illustration435 1995-03-04 16 SHAHIRON SAHARI - Cinema Review By SHAHIRON SAHARI WITH every actor overplaying his role with such glee, it's easy not to take Drop Zone seriously. And that, more than anything else, is why this action-adventure thriller works. Like recent Arnold Schwarzenegger thrillers such as Last Action Hero and True Lies, Drop435 words
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SPORTS
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SPORT SHORTS
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Article, Illustration78 1995-03-04 17 AFP BEIJING China's sports authorities yesterday strongly denied a report that athletes found guilty of taking performance-enhaneing drugs would be jailed. "We categorically deny this report, vtrhich is devoid of all foundation," a spokesman said, adding that an official protest would be made to the foreign news agency concerned.AFP - 78 words
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Article, Illustration112 1995-03-04 17 ANDALLCIA, Spain Jose Maria Olazabal's chances of defending his title at Augusta next month were in jeopardy here on Thursday as he struggled to finish the-first round of the Turespana Open. Olazabal. making his first appearance since undergoing an operatiqn at the end of January on the big toe112 words
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Article, Illustration39 1995-03-04 17 P ARIS Kuropean Cup's first teg quarter-finals Thursday UEFA: Parma (Ita) t Odense (Den) 0. Cup Winners: Fcyenoord Rotterdam (Hoi) I Real Zaragoza (Spn) 0; Sampdoria (Ita) 0 FC Porto (Por) 1; Arsenal (Eng) 1 Auxerre (Fra) I.39 words
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Article, Illustration207 1995-03-04 17 ROTTERDAM US$6OO,OOO World Indoor 2nd rd Thursday: Omar Campresc (Ita) b Alexander Volkov (Rus) 6-2 6-3; Sjeng Schalken (Neth) b Joost Winnink (Neth) 6-2 6-2; 4-Andrei Medvedev (Ukr) b Andrei Olhovskiy (Rus) 6-4 7-5; Paul Haarhuis (Neth) b Kenneth Carlsen (Den) 6-7 (8-10) 7-6 (7-5) 7-6 (7-4); 2-Ycvgeny Kafelnikov207 words
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Article, Illustration561 1995-03-04 17 Golf NYT MIAMI The sports precept that Scott Verplank once obeyed is fine for football, basketball and baseball. It even makes a great book title. But when it comes to golf, this is a maxim that should be avoided more than swingNYT - 561 words
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440 1995-03-04 17 Five Nations Rugby Reuter LONDON Scotland, beaten by everybody in sight during the past 18 months, run on to Murrayfield to face Wales today just one game away from a Five Nations grand slam showdown against their ancient enemies England. Headed byReuter - 440 words
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Article, Illustration151 1995-03-04 17 AP CAPE TOWN, South Africa It's been years since Nelson Mandela put on gloves and climbed into the ring as an amateur boxer. Now 76, he showed yesterday that he still loves the sport. Meeting International Boxing Federation president Bobby Lee ahead of an IBFAP - 151 words
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PEOPLE
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Article, Illustration215 1995-03-04 17 MINISTER for Finance Richard Hu was the guest of honour at the Care Share 95 CEO's Cocktail held early last month at the Marina Mandarin Singapore. The cocktail was attended by CEOs and leaders of the finance and retail industries and was the first215 words
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EPICURE
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Article, Illustration928 1995-03-04 18 JAIME EE - Bon Appetit By JAIME EE HONG BAHRU Plaza may not seem the most logical place to have an upmarket Japanese restaurant, but if the theory holds that if you sell good food it doesn't matter where you arc, then Asuka may just be a hit.928 words
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Article, Illustration741 1995-03-04 18 Corinne Kerk - Corinne Kerk samples the food and savours the view at Hongkong's Cafe Deco Corinne Kerk WE WERE just about done with all the picture-taking and other touristy things at The Peak in Hongkong recently when a familiar gnawing pain reminded us that we were741 words
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Article757 1995-03-04 18 N K YONG - Wine By N K YONG FOR WINE lovers, the finest white wine is white Burgundy, and within this group, the ultimate is Montrachet. It holds the same revered position as Romance Conti for red Burgundy, Petrus for Bordeaux and Yquem for Sauternes. The tiny757 words
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Article, Illustration1012 1995-03-04 20 Death Machine. The new CEO of a weapons company finds herself up against the company's psychotic inventor and his ultimate weapon. Republic: 2.30; 6.45. Disclosure. Demi Moore is Michael Douglas' boss. She makes a pass at him. He rejects her only to end up with a sexual harassment charge.1,012 words
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Page 14 Advertisements
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Advertisement140 1995-03-04 14 PLAY SMART Be part of the good fife. Lifestyle. Everyday. Business Times \vaibbic ctlc lusivrH" HNGAPORfc tatonya MfM 436 Orctard Rod. «OM* Mm Art. Sinppore (MB. Tet 733 7113. 981 Oithvd bad. *01-10 TafaahiMp SjC. Stappore OSZS. T«t *****5&. ■ml will firr DAMAKU DFS Orchard BET AN Orriwd KAN HEN140 words
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Page 15 Advertisements
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Advertisement32 1995-03-04 15 The BT Golf Index has been held over till next week. Fart four of the series on tuning a property The financial aspects of property purchases will be published on March 1132 words
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Page 17 Advertisements
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Advertisement16 1995-03-04 17 w pwIH PI A K ClwWllll LEVEL 4 ISETAN WISMA TELEPHONE *****96 A CLUB 21 BOUTIQUE16 words
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Page 17 Miscellaneous
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Miscellaneous483 1995-03-04 17 p—— m nBII Singapore: Showers over several areas in the afternoon. Temperature (24-32*) Aali P»rt>r rn\jf Cm 4. teapa M/U* Cm*. Buenos Ana 25/16 Cloud, AucMand 23/13 Sutny Amsterdam Ran Oncago -4/.9 Cloudy Ban*.* 36/27 Sumy Athens 19/14 Honolulu 27/21 SUoxers Bop* OS/2 Cloudy BtxWi -J O4/-2 Showers Houston Cloudy483 words
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Page 18 Advertisements
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Advertisement394 1995-03-04 18 WHERE TO WINE, DINE AND ENTERTAIN Olde English Eating House 277 Orchard Rd #02-38 Specialists' Centre S (0923) I i $2= CM) PASS! J |l When you spend $25/- or more at Fosters for lunch H or afternoon tea from Mon-Sat, show us your valid :1 H daily or monthly394 words
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Page 19 Advertisements
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Advertisement901 1995-03-04 19 A Blld- Bftjyfl WHERE TO WINE, DINE AND ENTERTAIN OK "7%/< Qeu start* td Jftttjh Qioon l)»n'l miss our drlicioub I ligh lea Buffet available from 12 UOIM lv Spill every weekend. Price: $13.80 (adult) $8.80 (child) A La Carte Menu Ik also available. All pito> .iiv nubjiil l«> lU%901 words
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Advertisement292 1995-03-04 19 The Day You Dine At Triple 3. Be Prepared To Have A Very Light Breakfast. Skip breakfast altogether for a sumptuous buffet at Triple 3, an irresistible spread featuring some S 60 hot and cold dishes, plus tempting desserts. Call us now to make your reservations at 831 6271/2. ?g§!l292 words
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Page 20 Miscellaneous
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Miscellaneous2471 1995-03-04 20 TODAY'S TV übe (See ur Cho,ce iPN>! t hi.^! nasa 7.00 Extraordinary People News. Choice). Ween. Hotel, 3pm, Ch 12 Germany Live, 6.30pm, Ch 12 7.30 Berital2 (M) fjg&k |2 j» m 12 Malay drama set in a hotel. Debut of a magazine pro- 900 Th e Asian Highway (See2,471 words
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