The Business Times, 16 May 1987

Total Pages: 16
1 16 The Business Times
  • 13 1 BUSINESS TIMES M.C. (P) No. 112/12/86 Weekend Edition, May 16-17, 1987 75 CENTS
    13 words
  • 178 1 Exchange rates THE S$ ended firmer at 2.1210/20 (2.1227/37) against the US currency in the local forex market yesterday. But it closed lower against sterling at 3.5584/3.5622 (3.5427/65). US$*. 139.15/25 yen, *****/95 DM, US$1.6795/6805 M$: S$85.85/95 Overseas markets Friday HK Hang Seng Index 2872.19 (+18.27) Sydney All-Ordinaries
    178 words
  • 612 1  -  NWC recommendation to pave way for wage reform By FOO CHOY PENG,LUCY NG LESS SEVERE wage restraint guidelines are expected to be recommended by the National Wages Council (NWC) this year as the economy continues to pick up steam. Sources said
    612 words
  • 523 1  -  By LOH HUI YIN JAPANESE engineering firm JGC has won a plum job, estimated at $170 million, to construct the first phase of a $400 million titanium dioxide plant. BT learnt that JGC, which had a hand in building the Republic's
    523 words
  • 474 1 UPI US SECRETARY of State George Shultz and the Foreign Ministers of Canada and Mexico urged freer trade between Asia and the West during a centennial celebration by Stanford University. Meeting informally on Thursday, they called for a relaxing of
    UPI  -  474 words
  • 176 1 THE RALLY on the Singapore stock market slowed down yesterday amid intermittent bouts of profit-taking. But rising issues still outnumbered losers 108 to 81. High-fliers SI A and National Iron were among the shares which lost ground. The Straits Times Industrial Index, up a massive 67.59
    176 words
  • Page 1 Advertisements
    • 239 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM Blessings for a $400 m project, Page 2 INSIDE OUR VIEW OLYMPIC BODY'S DECISION to welcome tennis millionaires to the once all-amateur Games is by far the most radical step in the event's rapidly changing world. Although opinion in the tennis world is divided,
      239 words
    • 52 1 A special woman IT'S not easy to find a woman like Shirin Fozdar, 82, a great-grand mother and noted champion of women's rights. Not for her the bra-burning and ta-ble-thumping tactics of her Western sisters. Instead, it's her intelligence and faith which won the day for women in Singapore. See
      52 words
    • 249 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM So what's new in picture 6 %5 'V rw it -k.' I Personal Trivia The selling of fantasy island Pag* 9 If you have to ask Page 10 Trimming a big claim Page 10 weektad TV TV programmes for today and tomorrow Pag* 10
      249 words

  • HOME NEWS
    • 488 2  -  By JEFFREY TSANG MAJOR US software company McCormack and Dodge, which won a contract last July to develop a financial system for the Ministry of Finance, has now signed a partnership agreement with the ministry for the rights to sell this system worldwide.
      488 words
    • 408 2 IT WAS A ground-breaking ceremony full of religious symbolism that was highly symptomatic of the times as well. Symbolic because the two Shinto priests and a priestess, flown in specially from Japan for the ceremony, prayed for blessings from Kami (gods) for
      408 words
    • 125 2 AIFRED DUNHILL (Far East) will direct its own Marketing and distribution activities in Singapore from qct 1. It has been represented by sole agent Shriro (8) Pte Ltd since 1974. Michael Nicholson, rrtanaging director of Dunhill (Far East), said Singa- pore merits further direct
      125 words
    • 193 2 DUTCH ELECTRONICS giant Philips has set up a $1 million programme to help the Nanyang Technological Institute upgrade its expertise in IC design and computer-aided engineering (CAE). The programme includes training a team of three senior NTI lecturers. The lecturers have been
      193 words
    • 497 2 THE PRESIDENT of the Singapore Hotel Association (SHA) yesterday warned against euphoria in the wake of the upturn in the tourist industry, forecasting lower than official growth for the next few years. Mr T E Ricketts, general manager of Hotel Phoenix, expects the tourist
      497 words
    • 302 2 ANTIQUES, carefully selected. can yield gains which are many times more than what one can make on the stock market in bullish times. Take the example of Captain Michael Hatcher. He recently bid for the same pieces of an antique collection he had sold
      302 words
    • 72 2 THE QUESTION of when the Central Provident Fund Board will permit a CPF member to use his CPF balance and/or contribution to finance an existing bank loan predicated on the mortgage of a property acceptable to the Board will be put forward at the
      72 words
    • 352 2  -  By MONICA GWEE THE SINGAPORE stopover commercial by Batey Ads for the Singapore Tourist Promotion Board won the best Ad in Asia Award yesterday at the Westin Plaza Hotel. The 60-second spot shone from among 395 entries from Hongkong, Indonesia, Malaysia, the
      352 words
    • 1346 2 AT CONVENTIONAL WHARVES VmmI Berth Arrival Departure KEPPEL WHARVES An K21 alongside 1605/2300 Borrnemill KI5 olongside 17 05/0700 Hetion IC30 alongside 1806/2300 Koto Wongsa K31 olongside 1805/2300 Moroybonk K32 alongside 16 05/1830 Ned Amersfoort ICI8 olongside 16 05/1200 Ocean Credit K27 olongside 17.06/2300 Pocific Tiger (C20 alongside
      1,346 words
  • Page 2 Advertisements
    • 107 2 NOW FOR A LIMITED PERIOD ™VI Y Stay two nights with us and enjoy... An extra night free OR A Ss7s gourmet meal at no extra charge Coming home at *Ss7s++ gets even better! When you stay with us for two nights, you can stay on for a third night
      107 words

  • OVERSEAS
    • 536 3 Reuter/FT BRITISH Prime Minister Margaret Thatcher vowed on Thursday to fight next month's general election with a "winning combination" of income tax cuts and free enterprise as opinion polls continued to point to her clear victory. She spoke as official figures
      Reuter/FT  -  536 words
    • 282 3 FT MR GERHARD STOLTENBERG, the West German Finance Minister, on Wednesday dashed hopes of significant action to stimulate his country's economy raised just a day before at a meeting of international policy-makers in Paris. Mr Stoltenberg said West Germany had already gone to
      FT  -  282 words
    • 262 3 Reuter CONGRESS on Thursday approved an emergency US$2O billion increase in the ceiling on the federal debt to a record U552.32 trillion to allow the US government to pay its bills. The Senate passed the measure on a vote of 58 to 36
      Reuter  -  262 words
    • 212 3 AP THE WESTERN WORLD does not understand how seriously hurt Latin America is by its foreign debt problem and trade protectionism, Uruguay's President Julio Sanguinetti said on Thursday. Mr Sanguinetti told 450 publishers and editors from 43 countries attending the International Press Institute (IPI)
      AP  -  212 words
    • 236 3 AP THREE LEGISLATIVE committees in Buenos Aires on Thursday passed a presidential proposal to end prosecution of hundreds of military officers who claim they were under orders when they committed human rights abuses Legislative panels empowered to deliberate on the penal, defence and constitutional
      AP  -  236 words
    • 874 3 ARRIVALS Operator Service Local From number time MAS MH681 0820 KUL KAL KE624 0840 KUL SV SV398 0910 JED/RUH MAS MH811 0910 PEN MAS AAH671 0920 KUL AC AC858 0925 YYZ/LHR/BOM CPA CX710 1015 CGK RBA BI421 1100 BWN G1A GA960 1100 CGK SIA SO 105 1105
      874 words
    • 485 3 FT AUSTRALIA'S Labour Party government on Thursday introduced legislation overhauling the country's highly institutionalised industrial relations system, but immediately met loud criticism from the opposition and business community. The new 380-clause Industrial Relations Bill will replace the 83-year-old Conciliation and Arbitration Act. It
      FT  -  485 words
    • 217 3 AFP FRANCE'S economy faces a bleak outlook for the rest of this year, with unemployment rising to 11.7 per cent, inflation hitting 3.5 per cent, and the growth rate stagnating around 1.1 per cent, France's Institut National de la Statistique et des Etudes Economiques (Insee)
      AFP  -  217 words
  • Page 3 Advertisements
    • 59 3 I I I A|\ I The business person's choice, every I I II I I II II I Tuesdoy. Thursday. Saturday and Sunday. I I VI \l I yl II Leaving Changi Airport at 22:05 I I -I—S V_y-L 1 hours and arriving Heathrow early the following morning. Call your
      59 words
    • 55 3 X. VTV.iitft S 5 f r**ji -r -r **m«p -ik. ■v £i A &st> ,5a BPIsrt For further details or bookings, please call your travel agent or Constat Hobdays and ask for Lydia, Helena or Maurice. .GoTshan? ■Holidays] TA42B CONST AIR EXPRESS PTE LTD Scotts Road #03-09 Scotts Shopping Centre,
      55 words
  • Page 3 Miscellaneous
    • 39 3 Doonesbury HI. TM SAL DOONESBURY, AND I D ukb to mate you TWBRXHMAOuuneamcEPHON, POPULARLYKJKMN ASUHOOPEB m m BY GARRY TRUDEAU MEN WSeUPR.MHXm rOUA& SBJJNSHOPB. YOUmCQMtPmOF we SOLUTION. 10UIL&SAM6N0 TOAHIKWI Of SOCIAL PROBLEMS!' s n m J* m 11 MITT*
      39 words

  • WORLD BACKGROUND
    • 900 4 Reuter THE HONGKONG GOVERNMENT is coming under increasing pressure to end the exchange link between the local currency and the US dollar which has been in force since a 1983 political crisis in the British colony. The main cause of demands for
      Reuter  -  900 words
    • 709 4 Reuter THE IRAN-CONTRA hearings changed gears this week as former National Security Adviser Robert McFarlane. an almost Hamlet-like figure, agonised through four days of testimony. By turns laconic and wordy and once angry to the point of profanity he contrasted with retired Major-General
      Reuter  -  709 words
  • COMMODITIES
    • 473 4 Crude palm oil futures closed marginally easier in very active trading on the Kuala Lumpur Commodity Exchange yesterday on continued selling pressure. The market opened higher on steadier advices from the Chicago Board of Trade's soyabean market but eased back on persistent selling. The market recovered slightly towards
      473 words
    • 81 4 GASOIL firmed on good buying interest and a tight FOB Singapore market. Naphtha was stable in active trade. Kerosene was quiet and stable Fuel oil firmed. Crude (FOB origin) US$/borr«4 Oong* Duboi (Jun*) W«*t T*<at 17.05 undi iMi c Mtdtaifi WTI (Jun«) 19.625 *0.195 Products (FOB S'pore)
      81 words
    • 105 4 WHEAT FUTURES in Chicago closed with a sharp loss in the spot contract on Thursday but recouped much of the day's weakness in deferred deliveries. May fell seven US cents to close at US$3.OB per bushel, with July off 1/4 cent at US$3.O2. Trade was choppy and lacked fresh
      105 words
    • 99 4 SOYBEAN FUTURES in Chicago closed with contract highs on Thursday in September and remaining months, posting gains of 12-1/2 to 21 US cents per bushel. Spot May rose 121/2 cents at U555.75. Fresh forecasts for hot, dry weather over the next month in major US growing areas were the
      99 words
    • 282 4 Chinese Produce Exchange Sellers' noon closing prices on May IS (SS/100 kg) Coconut oil Mk FOB 88.00 Old drum FOB 98.00 New drum FOB 102.00 Copra Mixed (loose) 50 Pepper Muntok white FOB NLW 1200.00 Sarawak white FOB foq NIW 1185.00 Sarawak spedal block FOB NIW 960.00 Sarawak
      282 words
    • 223 4 HONGKONG: Gold closed sharply higher yesterday in fairly active trading, mainly on strong local buying interest. The metal ended at U*****.10/60 an ounce compared with New York's U*****.70/U*****.20 close and Thursday's close here at US$459 70/U*****.20. On the local market it rose HK$64 to HK54.329 a tael. The
      223 words
    • 312 4 London Sales (4230) LME Tone: Borely Soles: (*****) Commodity Raw Afternoon session dosing tone ond steody Silver Exchange Buyer/Seller doling No 6 CIF 177.00(178.00) prices on May 14 (£/*onne). prices on No 6 FOB 152.00(153.00) White No 5 191.00(191.00) Previous dosing prices ond total sales in porenthesis (Pence/troy
      312 words
    • 163 4 CONTINUED strong buying interest helped the Kuala Lumpur tin market, KLTM, to close a cent higher at M 516.68 per kilo yesterday. A higher buying demand of 196 tonnes was noted at the lower level at the opening of the market while offers were reported at 116 tonnes,
      163 words
    • 241 4 SINGAPORE The market closed firmer yesterday with June 1 RSS buyers quoted at 203.00 cents/kilo, up 1.50 cents from Thursday. The morning session ended on a steady note after fluctuating narrowly in quiet trading on some buying of nearby positions alternating with light selling of forwards. Prices firmed 1.50
      241 words
    • 284 4 RAS prices in s cnt*/* 8 fob m f* m NOON CLOSE Buyers Sellers Buyers Sellers kit 1 RSS Prompt 205.00 206.00N ***** *****N kit 1 RSS June 87 201.50 202.00 203.00 204.00 kit 1 RSS July 197.50 198.00 199.00 ***** kit 2 RSS OP 190.00 192.00N
      284 words
    • 82 4 (c«on/kg, 1-ton pollen) JUNE 87 JULY 87 (currant month) (forward month) RAS NOON NOON Bvyan S*Hon Iwyon StNtfi SS« 20 176.00 178 00N 176.00 178.00N SS* 50 175.00 176.00N 175.00 176.00N MRELB ■wyon S*U«n •uy»o S>tl«n SMR CV 241.00 243.00N 242.00 244.00N SMR I 240.00 242.00N 241.00
      82 words

  • BANKING AND FINANCE
    • 561 5 FT THE ITALIAN government may in future use overseas borrowings to finance a larger share of its huge deficit following the latest moves to liberalise its foreign exchange regime. Although the deficit, at 14.3 per cent of gross domestic product,
      FT  -  561 words
    • 83 5 STANDARD Chartered Bank and Standard Chartered Finance will cut their home loan interest rates from Monday. The new rates are 6 per cent for maturities of one to five years, 6.5 per cent for 6 to 10 years, 6.75 per cent for 11 to
      83 words
    • 40 5 THE ASSOCIATION of Banks in Malaysia (ABM) is studying the implication of the M 5500,000 cheque fraud case which occurred at a Hongkongßank branch in Kuala Lumpur earlier this month. Steps are being taken to prevent a recurrence.
      40 words
    • 245 5 NYT FOR THE SECOND time in two months, the US Senate on Thursday passed a package that would inject US$7.5 billion in new money over the next two years into the insolvent fund that insures $900 billion of deposits at
      NYT  -  245 words
    • 79 5 AFP THE Canadian central bank said on Thursday it was cutting its discount rate from 8.17 per cent to 8.07 per cent. Financial analysts said the small cut, which was made at the bank's weekly review of the discount rate would have no effect on prime
      AFP  -  79 words
    • 114 5 Reuter JAPANESE FINANCIAL authorities are studying measures to moderate overseas activities of domestic commercial banks. Bank of Japan sources said those steps include strengthening risk weights on banks' foreign assets so that they must refrain from engaging in overly aggressive business activities abroad.
      Reuter  -  114 words
    • 425 5 Authorities renew intervention on forex markets FT The Bank of England has hinted that sterling is now at the very top of the band considered acceptable by the authorities and that it would welcome some modest weakening in the pound's value against other
      FT  -  425 words
    • 183 5 UNITED Overseas Bank will offer Unibond, a new Singapore dol-lar-denominated unit trust, from Monday. It will be managed by UMB Investment Management, a whol-ly-owned subsidiary of United Merchant Bank, the merchant banking arm of UOB. Standard Chartered Bank Trustee Singapore has been
      183 words
  • MONEY AND EXCHANGES
    • 588 5 Simex /IMM SEPTEMBER Eurodollar opened with a slight bearish bias in Singapore yesterday as the dollar weakened overnight after disappointment with the March US trade balance. The September contract, however, traded narrowly from 92.07/08 after opening five ticks lower at 92.07. Near-term resistance could be found at 92.13 with support
      588 words
    • 826 5 SINGAPORE: The US dollar closed mixed yesterday compared with New York's levels, after fluctuating within a narrow range in very thin preweekend trading. It started on a steady note but fell briefly around mid-morning, on selling after remarks by Japanese Finance Minister Kiichi Miyazawa that the Finance Ministry's
      826 words
    • 214 5 Interbank rates at 3pm yesterday: BIO OFFER crtm party c*ee§e Local dollar? to < xi* unit of foreign currency: US dollar 2.1210 2.1220 2.8196 -24.78 Sterling pound 3.5584 3.5622 7.3469 -51.57 Australian dollar 1.5133 1.5161 3.4286 -55.86 NZ dollar 1.2248 1.2275 3.4286 -64.28 Canodkm doKor 1.5846 1.5865 3.4206
      214 words
    • 192 5 Indicates the average of the prim* landing rata* of 12 major banks in Singapore Interbank market rates (offer/bid) on May 15 us$ DM SWFC Y«o 7 da i n 6 7/8 3/4 8 7/16 5/16 3 3/4 5/8 1 1/8 7/8 3 11/16 9/16 1 Mill i
      192 words
    • 194 5 Asian ASIAN DOLLAR deposit rates closed steady at opening levels yesterday. Interbank deposit rate* US$ OFFE# MO 7 doyi 6 15/16 6 13/16 1 mmrth 7 6 7/8 2 monrtn 7 3/16 7 1/16 3 7 1/4 7 1/8 6 moirth* 7 1/2 7 3/8 9 —i» 7 3/4 7
      194 words
    • 43 5 Treasury bills (mo«t ncmi iuu*>) Issue code Maturity Yesterday's yield RID OFFER 8710! X 13.8.87 2.22 2.17 Singapore government bonds Issue Coupon Maturity indicative Yield code rate closing (offered price rate) N*****0H 5.375 15.5.1992 100.55- 5.20 100.75 Source: DBS Bank
      43 words
    • 112 5 THE OVERNIGHT rate on the Singapore interbank market closed one point lower at 3 per cent yesterday. The term rates each lost >4 point to 4 3/16 per cent. SS Interbank rates at 7pm yesterday: Off€« nighr 3 2 3/4 1 -month 4 3/16 4 1/16 2-monrtt 4
      112 words
  • Page 5 Advertisements
    • 86 5 NOTICE To the holders of the U.S. $200,000,000 Floating Rate Notes Due 1997 of: BANK OF CHINA (Zhongguo Ylnhang) 410 Fucheng mennei Dajle Beijing People's Republic of China We hereby certify that the rate of interest payable on the above mentioned Floating Rate Notes for the interest Period beginning on
      86 words

  • INTERNATIONAL STOCKS
    • 286 6 NYT FIRST INTERSTATE Bancorp, the Los Angelesbased holding company that is a dominant force in interstate banking, is involved in negotiations with Allied Bancshares of Houston about a merger. They would not discuss the possible terms of a deal for Allied, which is
      NYT  -  286 words
    • 227 6 Reuter THE BROKERAGE house Kidder, Peabody and Co Inc is getting a new chief executive but its owners said on Thursday's the announcement had nothing to do with the firm's involvement in Wall Street insider trading scandals. General Electric Co, after
      Reuter  -  227 words
    • 399 6 Reuter A SOFT DOLLAR, renewed concern about inflation and disappointment with the March trade deficit haunted Wall Street all session on Thursday, and investors responded by taking profits in a light trading day. Transports, however, provided some solace, again moving to a record high. The
      Reuter  -  399 words
    • 131 6 MAY 14 C 35* 1unch Inco Int Prov Pipe lu Intt 25* 49* 25* 41* Kerr Addison 25* lotolaw Co 15* unch Bank Nova Scotia 17* McMil Bldl 24 24* Moore Corp 33 Bp Resources 24* 29* Brascan CI A 37* 12* Campbl Lake 42* 33* Canadian Imp Bank
      131 words
    • 194 6 MAY 14 RAMO INDUSTRIALS Tongaat Trust Bk Un Staal Wooltru 1200 240 80 1900 unch 10 unch 25 A Alpha Abarcom Aeci 1625 330 1800 unch unch unch Anglos MGS 7975 unch 1300 100 Amaprop AMIC 530 6100 5 -50 25 75 5 -5 Blyvoor 2625 Buffets 7400 150
      194 words
    • 556 6 MAY 14 US S +h Eastman Kodak 81* -ft N L Induet 7* Eli Lilly 88 ■ft Alcan Alumin 46 Engelhard Cp 26* Alcoa 51* unch ft Exxon Cp 90 Navistar 7* Allied Sig 42* Fireetone Tire Fluor Cp FMC Cp 37* 17 36* ft ft •1ft NCR
      556 words
    • 840 6 Amsterdam MAY 14 FLS *b ABN 468 00 94 00 Ahold 104 20 133 60 Alrenta AMEV 147 60 62 50 0 1 •05 Amro Bank As* Stad 76 60 129 00 •04 Berkal BOLS 14 40 157 00 04 -05 Bof*umi| 135 00 Buahrman T attar oda
      840 words
  • Page 6 Advertisements
    • 404 6 I imv to wine, dim aai entertain Hong Kong DianXin on Saturdays, Sundays and public holidays r* Come as early as 11 am to enjoy 27 selections of fine Dian Xin delicacies, prepared by chefs from Hong Kong, using only fresh, quality ingredients. At the Pheasant Room (2nd f100r)... where
      404 words
    • 198 6 London stocks on Pago 15 No one could expect a stomach to survive the stretch between dinner and breakfast. The minute you feel the rumbles, head for shelter here. We have porridge potpourri. Hot and r steaming buffet to mg get you through the HP night for only $9.50. (All
      198 words

  • ASIAN STOCKS
    • 435 7 HONGKONG: Share prices closed higher in heavy trading yesterday but profit-taking trimmed early gains. The Hang Seng Index rose 18.27 to 2,872.19 after briefly touching 2,881 in the morning. The Hong Kong Index gained 12.45 to 1,855.50. Turnover rose to HKJ1.023 billion. Brokers said sentiment remained bullish as the
      435 words
    • 273 7 MAY IS NT t Kolin 32 00 •02 Kuochan Dev 35 70 -01 All Sincere Indus Lea Chang Yuan 3 88 001 Cham Indus 40 50 Asia Cement 49 30 -0 1 Lian Hwa Indus 28 00 0 2 Camay Cors 66 00 -0 5 Nan Ya Plas Chang
      273 words
    • 492 7 TOKYO: Prices firmed to a second straight record close yesterday in moderately active trade as a stable yen/dollar exchange rate bolstered market optimism. The market inoex rose 77.59 to a record close of 24,729.03 after earlier touching a record 24,842.53. Advances just led declines in turnover of 1.1 billion
      492 words
    • 81 7 MAY 15 Aco|« Mining PESOS Oriental B Phil Overseas Philex B 0033 0 067S 0 53 -►0001 0 0025 -t-0 01 Ami Mining B ***** unch Picop B PLOT 432 50 -2 5 Atlas Con 3 26 50 0 0055 -1 5 San Miguel B 143 unch unch Sealront
      81 words
    • 435 7 SYDNEY: Australian share markets closed barely steady for the second consecutive day yesterday as investors remained reticent to follow initial morning buying. Improving precious metal prices overnight combined with a steady decline in money market interest rates led to selected gold and industrial stocks leading the market up. The
      435 words
    • 115 7 MAY 15 WON Kal Kangwon Ind 1362 ***** 12 Cheil Sugar ***** -3M 1674 Daelim Ind Daewoo Ccrp ***** 1131 ***** -240 21 150 Kolon Ind Koraa Long Term Lucky Ltd 3660 2360 70 99 15 unch -300 Daishin Securities Dor>g Ah Ptiar 4070 ***** -20 50 Oriental Brewery
      115 words
    • 165 7 Reuter BANGKOK: The Stock Exchange of Thailand Index was down 3.80 to 262.90 on a turnover of 1,599,280 shares worth 337.7 million baht. may is samt Ao Kham Thai 190 Ayudhya Investment 300 Bangkok Agro-lnd 106 Bangkok Bank 265 +1■4 -6 -5 -6 Saha Union Siam Cement Siam City
      Reuter  -  165 words
    • 82 7 AFP NISSAN MOTOR Co of Japan will withdraw from its joint venture with Alfa Romeo S P A in Naples, Italy. The Nihon Keizai Shimbun said Nissan decided to pull out of Alfa Romeo E Nissan Autoveiole SPA (ARNA) following the recent merger of
      AFP  -  82 words
    • 402 7 AP THE TOKYO STOCK Exchange had been planning to upgrade and expand its facilities to provide more seats for foreign firms by May next year, exchange chairman Michio Takeuchi said in Thursday. Meanwhile. Takeuchi asked for patience from foreign nations, already angry over huge
      AP  -  402 words
    • 174 7 Reuter THE PRESIDENTIAL Commission on Good Government took control of San Miguel Corp at a stormy annual meeting in Manila on Thursday, raising the number of its nominees from six to nine on the 15-member board. Andres Soriano 111, whose
      Reuter  -  174 words
    • 230 7 AFP A GROWING number of Japanese firms are setting up joint ventures in South Korea to produce car parts in an effort to cope with the adverse impacts of a stronger yen. According to officials, in the four months to April,
      AFP  -  230 words
    • 122 7 Reuter SOUTH KOREA plans to sell to private investors all shares held by the government in seven firms, including three banks. Board officials said the total book value of the shares to be sold in about three years' time was 273.3 billion won. The
      Reuter  -  122 words
  • Page 7 Advertisements
    • 643 7 v I WSiere w wise, ilae and eatertala S/tf% Sunday Brunch: A great family outing. It's a wonderful way to combine a late breakfast with an early lunch on a lazy Sunday. Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roast... right through to pastries,
      643 words
    • 161 7 ENTERTAINMENT Otwdaßond iLxFrom the Philippines A sensational bs'td that is iTTiT.II Slow numbers, favourite oldies and latest rock. PHILIP^* TCO The popular x t\/ local soloist For your sentimental moments (CAIHNHILL HOTEL) 19 Cairnhill Circle. S pore 0922. Tel: *****22 Fri, Sat eve of public holiday 6pm 2am Mon to
      161 words

  • FEATURES
    • 482 8 THE HULLABALOO surrounding the International Olympic Committee's decision earlier in the week to allow tennis professionals to compete in next year's Seoul Olympics has hardly died down but already the fickle fraternity appears divided. Players like Steffi Graf, Martina Navratiiova, John McEnroe and Boris Becker have welcomed
      482 words
    • 1604 8  -  By LIM SOON NEO AT 82, SHE STILL has enough fire to spread the message so well expressed in the inspiring lyrics of this Helen Reddy song: "I am woman, hear me roar in numbers too big to ignore". "Women of the world must unite
      1,604 words
    • 289 8  -  D W Distant Dear Sir I support Hock Lock Siew's call to the SES in the article "Light grey market needs light" (BT 4.5.87) in which he suggests "drastic bureaucratic acceleration" in the case of listing new issues once the basis of allotment has
      289 words
    • 268 8  -  J M McCORMACK Coopers ft Lybrand Dear Sir I write this letter to correct the impression given by certain newspaper articles and published letters from members of the public that we are in some way opposed to the investigation by the Singapore Society of
      268 words
    • 118 8 Dear Sir I am disappointed that an SSA member is suing its own society. It is also a relief that two other firms involved in the Pan-El affair have not followed suit. I believe it is in the interest of the
      118 words
    • 265 8  -  LIM HUNG SIANG Dear Sir I refer to your BT report on May 6 headlined "SAE seeks car distribution rights". Your reporter interviewed Messrs David Tan and Lai Kam Chuen of SAE Auto Centre at the AAAE'B7 Show on April 30. Your reporter was
      265 words
  • Page 8 Advertisements
  • Page 8 Miscellaneous
    • 761 8 3A 35 CRYPTIC PUZZLE ACROSS 9 Are intended to be read, you argue (4, 5) 10 Are the long-boats not so long after meeting them? (8) 12 Go round to get news of (4) 13 Getting an arm broken over a girl (6) 14 It's clear it's the race I'd
      761 words

  • Executive Lifestyle
    • 246 9 WHOLESOME family Life and Recreation is the theme of this year's National Day Carnival. But one of the activities planned for the four days is a beer drinking contest. How this fits in with the theme is mind-taxing. One possible explanation is that often-touted phrase: "Anything
      246 words
    • 222 9 TRENDS ONE OR TWO glasses of wine a day dramatically reduces the chance of sudden cardiac death, but when wine is abused, toxic effects ensue. Or David Whitten, former chief of Emergency Dept of the Kaiser Foundation Hospital in San Francisco, stressed moderation with wine in the
      222 words
    • 983 9  -  With MONICA GWEE I WAS CLEARING out old magazines over the weekend and chanced upon an Oct 1, edition of English Vogue circa 1974. As with most personal junk, one seldom remembers why an item was hoarded away for posterity. But as I flipped through
      983 words
    • 1043 9  -  By RICHARD SEAH "WE FIND the same subjects, just the colour will differ." A field of yellow flowers flashed onto the screen as Mr Maurice Dorikens, president of one of the world's leading photographic societies, spoke these words at a photography seminar recently. The picture
      1,043 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 632 10  - If you have to ask JEWELLERY By JAIME LYE YOU COULD like it, or lump it. The greater probability, however, is that you can't even afford it. The House of Harry Winston studies your cash flow before it looks at your face, and when diamonds the size of pigeon eggs
        632 words
      • 191 10  -  -by Monica Gwee FRENCH jewellers Cartier have bought back two pieces of "animal" creations that were designed for the Duchess of Windsor and which formed part of her fabulous collection that was auctioned off in Geneva, Switzerland recently. Cartier bid successfully for a tiger lorgnette and
        191 words
      • 985 10  -  HEALTH By RICHARD SEAH THIS IS A COMPLAINT. It is a complaint against a major trading company circulating devious and irresponsible statements designed to mislead the public into thinking that eating lots of fruit and vegetables will make them fat. The statements are contained in thousands
        985 words
    • Executive Lifestyle: Entertainment & the Arts
      • 527 11  -  CINEMA By JAIME LYE SO WE ALL need a day off once in a while. What the heck. We're only human. But Ferris Bueller, a brash high school senior, takes it one step further. Skiving becomes an art form for him the be-all and end-all
        527 words
      • 533 11  -  MOTORING By JEFFREY TSANG THE LIMOUSINE glided into Times House at 1 pm sharp. With a debonair air, the chauffeur steps out. Tray in hand, he serves up a round of fine bubbly. I am embarrassed, but not impressed. For sure, it was going
        533 words
      • 733 11  -  THEATRE By WALTON MORAIS THE PROSPECT was intriguing. A glimpse into hell and the torment of a doctor who sells his soul for knowledge and power and then pays the ultimate price when Lucifer collects. As a theatre spectacle, Christopher Marlowe's Dr Faustus presented by
        733 words
      • 720 11  -  FOOD By THE FOOD TEAM SO YOU ask, just what has an Australian promotion got to do with cooking lessons for children? Not much, except for an Australian Meat and Livestock Corporation's (AMLC) publication called the Capable Kids Cookbook, which each of the
        720 words
      • 307 11 There's bucks in them ads DOES Ringo Starr's presence in a TV commercial make you want to drink wine cooler or pour it down the sink? Nobody seems to mind when local jocks fumble their way woodenly through testimonials for automobiles or appliances, but the sight of pop
        307 words
      • 1005 11  -  Compiled by Sakina Dhilawala CINEMA: Crocodile Dundee starring Paul Hogan. Showing at Cathay: 11; 1.30; 4; 6.30; 9.15, Kreta Ayer People's: 1.30; 4; 6.30; 9.15. One Crazy Summer starring John Cusack, Demi Moore, Curtis Armstrong and Bobcat Goldthwait. Showing at Capitol: 11; 1.45; 4; 6.30; 9.15. Children of a
        1,005 words
    • Executive Lifestyle: Sports
      • 583 12  -  TMCk with Brian Miller JOCKEY Masruhen Masjuay, who has recently been fighting a weighty problem that has put the brakes on his rides this season, looks to have a good chance to get back into the winner's circle when he
        583 words
      • 428 12 UPI TRAINER Jack van Berg, a bit of a fatalist, says he likes the No 6 post Kentucky Derby winner Alysheba drew on Thursday for today s Preakness stakes, "but I always believe you're where you should be anyway". In this particular case, he's right.
        UPI  -  428 words
      • 571 12 SOCCER UPI BOTH TOTTENHAM HOTSPUR and Coventry City are bidding to create history in the English F A Cup final at Wembley Stadium today. Tottenham is bidding to preserve an unbeaten record of seven wins in the world s oldest knockout soccer competition, with a
        UPI  -  571 words
      • 614 12  -  BRIDGE By MIKE THUMBA Pre-emptive bidding A PRE-EMPTIVE BID is usually an unnecessarily high bid intended to make it difficult for the opponents to enter the bidding. It is also called a SHUT-OUT BID. Only experienced players resort to this method of bidding to annoy
        614 words
      • 258 12 BASKETBALL AP IT HAD BEEN over two years since Milwaukee won in Boston and five months since anybody beat the Celtics on the parquet floor, but that was secondary to Bucks' coach Don Nelson. "It probably will mean something some
        AP  -  258 words
      • 463 12  -  GOLF By WALTON MORAIS AFTER TOPPING the list of qualifiers for Singapore Island Country Club s matchplay championship last week, former international Wong Weng Hong should enter today's first round confident of victory. The six handicapper plays Bob M L San, who
        463 words
      • 460 12 TENNIS AFP IVAN LENOL, worrying about whether he had peaked too early for the French Open, was given an unequivocal response by Sweden's Joakim Nystrom in the Foro Italico on Thursday. The Swede, seeded 15th, beat the defending champion and top seed 6-4, 2-6, 6-3 in
        AFP  -  460 words
      • 220 12 AP TOP-SEEDED Steffi Graf routed West German countrywoman Claudia Porwik 6-0, 6-1 on Thursday to claim a quarter-final berth in the US$l5O,OOO West German Open tennis tournament. Graf, 17, who is 29-0 in her matches this year, polished off Porwik in just
        AP  -  220 words
    • Executive Lifestyle: Personal Investment
      • 341 13  -  by Ramesh Chandiramani LAST WEEK'S pointer that there were useful pockets of value to be had among neglected Singapore-based stocks proved to be a timely one. The expected shift in investor focus away from Malaysian penny stocks proved so energetic that the Straits
        341 words
      • 742 13  -  BULLION By LISA LEE "GOLD" that precious metal worn and treasured for centuries by the rich and royal is the catchword used by gold bullion coin suppliers to get investors to buy their product. Besides the old argument that gold
        742 words
      • 653 13 FT GOLD IS one of the few bargains for the Japanese resulting from the yen's appreciation since the Group of Five meeting in September 1985. The appreciation of the yen against the US dollar has been such that gold priced at 2,520 yen
        FT  -  653 words
      • 880 13  -  BANK STOCK mm By AMY BALAN MALAYAN BANKING Bhd's premier position in Malaysia's financial sector was severely dented and tested in the past year. The loss of confidence was demonstrated by depositors who decided that their savings might just be better off elsewhere. To be exact,
        880 words
      • 795 13  -  SHARES BEannsrsj anmjg -by Lisa Lee PUTTING together an investment portfolio is more than just randomly picking up shares without any thought of where one is heading A portfolio needs to have a clearly defined aim and structure and it should be shaped after the
        795 words
      • 403 13  -  ART by Ruth Corb Jeremy Eckstein, Sotheby's Research Department THE MAJOR EVENTS of the week, which overshadowed much else of what happened in the art market, were the series of sales of contemporary art held by both the major houses in New York. Among the
        403 words
  • Page 9 Advertisements
    • 27 9 A MIKICANU X fi I S S-uS '-A "'.CT- ,'rfV M ~v The only Card you'll ever really need. Call 732 2244 for an application form today.
      27 words
    • 85 9 a •< ij. s f 5". ft t*t m 2 it* U> I* A Steel/gold with Diamond bezel Showroom and Service Centre: Singapore Gerald Gen la Geneve Scotts Centre *01-11 Tel: *****97 Authorised Dealers: Singapore The Hour Glass Lucky Plaza *01-36 The Hour Glass Scotts Centre *01-09 The Hour Glass
      85 words

  • Page 10 Miscellaneous
    • 2619 10 Classics, westerns and Royalty TODAY: Outback (4.30 pm, Channel 5) won't be endorsed by the Australian Tourist Commission, but it s still a well-made feature about a sensitive school-teacher whose personality disintegrates when he has to deal with rough primitive men in the Australian outback. Toned down from the original
      2,619 words




  • SHARE INFORMATION
    • 4454 14 SELECTED SHARES led by recent high-fliers SIA and National Iron came under profit-taking yesterday as the Singapore stock market took a quick breather from its unprecedented threeday rally. The overall market continued its gains with winners outnumbering losing issues 108 to 81. Share prices
      4,454 words
    • 255 14 SINGAPORE Rises lndfc«s toftmom Mao 825 35 IT Corwpuriu Mar 14 Mar 15 HorrMom Mho 515 33 1073.49 1074.34 Waomai 630 30 IT Oi/OS 71 153 out 313 ai it Cadi -3933 -3918 Car atooi 50« 300 30 IT 10-rfey MA -6060 •6045 r H S 360
      255 words
    • 5119 14 SECTION ONE MOUSTRIAL A COMMERCIAL Acmo II 63 SI (211 164 121 I 65 (2 166 111 163 (2 164 (2 160 (21 162 11« 163 Akom O 77 SI 141 075 Amol Steel 50« (2 46 B 2 47 SI 1121 2 51 (51
      5,119 words

  • COMPANY NEWS
    • 552 15  -  By NAJEEB JARHOM AFTER MONTHS of speculation, four-digit operator Magnum Corp has finally announced the sale of its entire 34.89 million shares representing a 61 per cent stake in British-listed light engineering group Phicom PLC for £10.47 million cash or 30p a share.
      552 words
    • 659 15  - Shareholders' funds wiped out at Town City By LORETTA McLAUGHLAN MUCH TROUBLED Town City Properties, the company which owns the Glass Hotel in Havelock Road and the Hotel Meridien Singapore in Orchard Road, has produced its worst figures yet with a full-year after-tax loss to end-December of $78.7 million ($36.4
      659 words
    • 116 15 HONGKONG Hongkong Index Friday *****0 Thursday 1843.05 Week ago *****5 Hang Seng Index Friday *****? Thursday 2853 92 Week ago *****6 All Industrials Friday ***** Thursday ****** Week ago 2539 0 NEW YORK Dow Jones Thursday *****9 Wednesday 2329 68 Week ago 2334 66 TOKYO Nikkei Average Friday
      116 words
    • 248 15 Managers' prices MARA-Bumiputra for May 16 18 Fin! B'putro 641 646* Second B'putro 5.75 580 Singapore Unit Trust Third B'putro 465 4 701 The Commute* 107 The Savings Fund 0 95 S'pore Prog Fund 0.45 S pore Sec Fund 074 S'por* lftv#st Fund 0.80 S'por* Equity Fund 0.54
      248 words
    • 471 15 BULLS continued to dominate trading and share prices advanced for the fourth consecutive session at the Kuala Lumpur stock market yesterday. The runup resulted in widespread double-digit gains. Some profit-taking was detected but the confidence of investors remained unwavered. Bouts of
      471 words
    • 870 15 A CONTINUING surge in share prices on the London stock market sent the broadly-based FTSE 100 Index through the 2,200 level for the first time yesterday morning. At 11.34 am, the index was quoted at 2,200.1 compared with Thursday's record close of 2,180.0. Dealers said prices were continuing
      870 words
    • 3260 15 BID and offer prices officially listed and hmlness in and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. INDUSTRIALS Acmo I—l AJfaomoto 60S» 13) 360 «d Alex Hldg
      3,260 words
    • 144 15 SHANGRI-LA HOTELS Limited: 26th AGM in the Summit Room, Valley Wing Lobby Level, Shangri-La Hotel. 22, Orange Grove Road. Singapore 1025. on Monday, May 18. at 10.30am. RASA SAYANG BEACH HOTELS PENANG Berhad: 16th AGM at Rasa Sayang Hotel. 10th Mile. Batu Feringgi. ***** Penang, on Tuesday. May
      144 words
  • Page 15 Advertisements
    • 472 15 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 185 AND IN THE MATTER OF KAN SOK YEE A SONS PTE LTD (In Member*' Voluntary Liquidation) At an Extraordinary Oeneral Meeting of the Company held on 9th day of May 1987, at 84. Nell Road, Singapore 0008, the following Special
      472 words
    • 477 15 In the Matter of The Companies Act, Cap. 189 And In the Matter of LF.C. TRADING CORPORATION PTE LTD (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 267 A Joo Chiat Road. Singapore 1542 on Friday, the 15th day of
      477 words

  • 403 16  -  Lower charges for stevedorage, dockage and tugs By JUNE LIM AFTER having given concessions of $180 million over the last two-and-a-half years, the Port of Singapore Authority has announced another round of rebates with effect from June. Reductions on charges for stevedorage. dockage
    403 words
  • 237 16 DR YEO NING HONG, Minister for Communications and Information, will propose a bill at the parliamentary meeting next week to give grassroots organisations a bigger say in public transport. At a press briefing yesterday, Or Yeo said
    237 words
  • 357 16 UPI FIJIAN military coup leader Lt Col Sitiveni Rabuka tightened his grip on this South Pacific island nation yesterday with a clampdown on the press and made a call for his country's "traditional friends" to recognise his new government. He
    UPI  -  357 words
  • 290 16 THE FIJIAN economy is resilient enough to deal with any international reaction to Thursday's lightning military coup, says Reserve Bank governor Savenaca Siwatibau. The Fijian dollar had not noticeably reacted to the overthrow of Prime Minister Timoci Bavadra's
    290 words
  • 115 16 Reuter JAPAN responded to US pressure yesterday and decided to speed work on an economic package to pump up its flagging economy, government officials said. But economists said political and bureaucratic infighting threatens to rob the plan of some of the punch Washington feels
    Reuter  -  115 words
  • 335 16 AP THE JAPANESE are investing in Canada at a record US$75O million a month, lured by firm interest rates, untapped consumer demand and the hope of dodging protectionism in the US market next door. "We don't have any barriers here,'' said Taizo
    AP  -  335 words
  • 318 16 UPI EX-DEFENCE Secretary Juan Ponce Enrile's party has petitioned the Philippine Supreme Court to annul Monday s elections to the Senate, charging fraud. In a petition to the high tribunal released yesterday, Enrile's Grand Alliance for Democracy charged the government Commission on
    UPI  -  318 words
  • 291 16 THE SHARP CUT expected in the Central Provident Fund (CPF) interest rate reported in BT on Monday has been confirmed by the government. In a joint statement yesterday, the Labour and National Development ministries said the interest rate on savings in
    291 words
  • 95 16 Bernama PRIME MINISTER Datuk Seri Dr Mahathir Mohamad may announce the new Cabinet line-up, at the earliest, next week, Deputy Prime Minister Ghafar Baba said yesterday. However, Dr Mahathir had not discussed the matter with him, he said. Speaking after launching the National Youth Day
    Bernama  -  95 words
  • 95 16 COMEX SILVER FUTURES traded briefly with limit gains of 50 cents an ounce on general buying yesterday morning following a steeper than expected increase of 0.7 per cent in US producer prices in April. The deferred December silver delivery was briefly bid up the 50 cent limit at
    95 words
  • 67 16 AP SUSUMU NIKAIDO, chairman of the powerful Tanaka faction of Japan's ruling Liberal Democratic Party, has declared his intention to run for party president, an LDP official said yesterday. Thursday's decision makes the 77-year-old Mr Nikaido one of four LDP members expected to vie for Yasuhiro
    AP  -  67 words
  • LATE FILE
    • 47 16 AFP SINGAPORE Foreign Minister S Dhanabalan will arrive in Manila on Monday for talks with President Corazon Aquino on the Association of South-east Asian Nation's (Asean) summit to be held in the city later this year, the Philippine government said yesterday. AFP
      AFP  -  47 words
    • 44 16 Bernama ES MALAYSIA'S retail and wholesale business is expected to grow by 3.2 per cent in the second half of this year as a spillover of the current modest economic recovery, Finance Minister Daim Zainuddin forecast yesterday.
      Bernama ES  -  44 words
    • 31 16 AFP PRIME MINISTER Yasuhiro Nakasone sought to reassure Europe yesterday that it would not be disadvantaged by Japanese efforts to improve its trade relations with the US. AFP
      AFP  -  31 words
    • 44 16 UPI JAPAN slapped stiff trade restrictions on two major companies Toshiba Machine Co and C Itoh yesterday for illegally exporting technology to the Soviet Union that the US charges has allowed Soviet navy submarines to run quieter. UPI
      UPI  -  44 words
    • 55 16 AFP THE SOUTH KOREAN won climbed to a three-year high against the US dollar yesterday as the country's central bank, the Bank of Korea, marked the US currency down to 829.40 won from 831.20 a day earlier. It was said to be the won's
      AFP  -  55 words
    • 27 16 AP THE TAIPEI Foreign Ministry acknowledged yesterday it had solicited US$2 million from local businessmen to help the US-backed Nicaraguan rebels. AP
      AP  -  27 words
  • Page 16 Advertisements
    • 164 16 ■■fi vrt s* oV ,«%> m foi ORDER FORM Yes, I would like to subscribe/renew Please send the magazine to the following oddress: Address: Company: Designation: Enclosed is cheque/money order no; Charge my American Express/Visa/Master Cord account .Expiry date: 1 1 >1 I i Cord No: for $48 00/s7l ,25/$64
      164 words
  • Page 16 Miscellaneous
    • 48 16 wmim Outlook: Cloudy with occasional showers Report for 24 hours prior to 7.30pm on May 15 at tha airport Maximum tamparature 32.4 Associated humidity 66 Minimum tamparatura 23.2 Associated humidity 97 Hours of sunshine 7.15 Rainfall in millimetres 34.0 Rainfall this month 227.1 Rainy days this month 9
      48 words