The Business Times, 27 February 1988
1988-02-27
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The Business Times
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Title Section12 1988-02-27 1 BUSINESS TIMES MCI (P) 95/12/87 Weekend Edition. February 27-28. 1988 75 CENTS12 words
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Article267 1988-02-27 1 Reuter Dow Jones higher WALL STREET stocks showed gains over a narrow front yesterday with blue chip issues modestly higher. Brokers said gains were encouraged by a lack of selling pressure and the easing of inflation worries as the US consumer price figures came in much asReuter - 267 words
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170 1988-02-27 1 THE US DOLLAR moved down against the Singapore dollar and key trading currencies in the Asian foreign exchange markets yesterday. In Tokyo the dollar finished at 128.35 yen and 1.6880 German marks, down from New York's Thursday close of 128.45 yen and 1.6930 marks.170 words
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345 1988-02-27 1 NYT AN ADMINISTRATION advisory body voted unanimously on Thursday to recommend that President Reagan initiate a trade retaliation case against Japan because of deadlocked negotiations on opening its construction market to foreign companies. The action by the Trade Policy Review Group addsNYT - 345 words
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Article, Illustration164 1988-02-27 1 THE HONGKONG MARKET rallied in line with the strong Tokyo market but share prices in Australia and Singapore closed easier. Share prices in Tokyo moved up for the 12th consecutive day in active trade, overcoming early morning profit-taking. The Nikkei Index rose 64.52 points, or164 words
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501 1988-02-27 1 ALVIN TAY - By ALVIN TAY AS PART OF an all-out effort to salvage the moribund gold futures contract, the Singapore International Monetary Exchange (Simex) is now looking at the possibility of a link-up with the Chicago Mercantile Exchange (CME). It has also set up501 words
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603 1988-02-27 1 JEFFREY TSANG - Training ground for entrepreneurs By JEFFREY TSANG THE ECONOMIC Development Board, in a major organisational revamp, is to set up "strategic business units'* which could in time be spun off as commercial activities. These units, or SBUs, will see select EDB officers working in teams603 words
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128 1988-02-27 1 UPI JAPAN'S 17 major trading companies said yesterday their trade contracts concluded in January posted a deficit of 55.1 billion yen (US$432 million) because of the steep appreciation of the Japanese yen against the US dollar. Their parent organisation, Japan Foreign TradeUPI - 128 words
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Page 1 Advertisements
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Advertisement299 1988-02-27 1 jfe TltWuWiHwrt Full report, Pag* 12 World marfcote, Pagos 14 A 15 Sm Pag* 3 and Back Paga THE TOURIST INDUSTRY last year enjoyed the best annual growth so far this decade when tourist arrivals hit 3.68 million, up 15.3 per cent over the previous year. HOME NEWS, Page 2299 words
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Advertisement218 1988-02-27 1 Nikon EsKjLCutl V-t The green, green class of home Page 7 From a river without end Pag* 7 A verdant school for green thumbs Page 9 Dear Tina, what a turn Page 8 Milestones of a back-up singer Page t TV programmes for today and tomorrow Algiers, Bombay and Vietnam218 words
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HOME NEWS
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527 1988-02-27 2 ANNA TEO - By ANNA TEO THE VOCATIONAL and Industrial Training Board is bringing forward the date of its annual intake exercise to try to catch more GCE 'O' level school-leav-ers. Last year, some 10,200 or 46 per cent of the 22,000 O" level527 words
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Article47 1988-02-27 2 TWO new heads of mission presented their credentials to President Wee Kim Wee yesterday morning. They were Mr Pawel Cieslar, Ambassador of the Polish People's Republic, and Mr Ado Sanusi, High Commissioner of the Federal Republic of Nigeria. Both are based in Jakarta.47 words
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230 1988-02-27 2 THE MASS Rapid Transit Corporation (MRTC) needs to spend an additional $181.24 million in the current fiscal year ending March 31, 1988. However, because of savings of $66.76 million, the MRTC is asking that Parliament approve an additional sum of $124.48 million. The230 words
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145 1988-02-27 2 THE MINISTRY of Finance needs an additional $7.33 million to meet higher than anticipated payments of agency fees and interest charges on investment as well as management fees to the Government Investment Corporation and a grant to the Singapore Totalisator Board which was145 words
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Article, Illustration87 1988-02-27 2 GENERAL Benny Murdani, the Indonesian Command-er-in-Chief who officially retires today, left Singapore yesterday after a farewell visit. General Murdani was seen off at the airport by Major-General Winston Choo, Singapore Armed Forces' Chief of General Staff. During his visit here, General Murdani called on President Wee87 words
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125 1988-02-27 2 THE GOVERNMENT has appointed four district judges to the Compensation Board under the Requisition of Resources Act. Their appointments take effect from next month, according to the government gazette last night. It also announced the names of 19 panel members who come from a cross-section125 words
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Article95 1988-02-27 2 THE GOVERNMENT is to phase out the Housing and Development Board's priority housing scheme for public employees and some members of the Armed Forces. The register of those eligible for the scheme will be closed by the end of next month A joint statement from95 words
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551 1988-02-27 2 LIM SOON NEO - By LIM SOON NEO THE TOURIST INDUSTRY last year enjoyed the best annual growth so tar this decade when tourist arrivals hit 3.68 million, up 15.3 per cent over the previous year. Growth in tourist arrivals,551 words
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Article1093 1988-02-27 2 AT CONVENTIONAL WHARVES VmmI Berth Arrival Departure KEPPEL WHARVES Alberuni <19 alongside 28.02/1500 Palembong <35 alongside 28 02/0600 Arrow Prince <18 alongside 27 02/0400 Komateri K16 alongside 27.02/1800 Koto Mutiara <31 alongside 29.02/0600 Lin Petaling <20 alongside 27 02/0600 Micholis lem <32 alongside 28 02/1000 Straits Hope1,093 words
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Page 2 Advertisements
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Advertisement428 1988-02-27 2 1 J I I 71 1 1 Jk k GUINNESS MALAYSIA BEIIIiAD (Incorporated in Malaysia) PRELIMINARY ANNOUNCEMENT OF PROFITS AND DIVIDENDS FOR THE YEAR ENDED 31ST DECEMBER 1987 The Board of Directors of Guinness Malaysia Berhad has pleasure in announcing the unaudited trading results for the year ended 31st Decemberl9B7:428 words
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OVERSEAS
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318 1988-02-27 3 Controversial items dropped to win over the administration Reuter US TRADE BILL negotiators have dropped several controversial items from proposed trade legislation in an attempt to overcome objections to the measure President Reagan threatens to veto. The House and Senate each passed differingReuter - 318 words
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167 1988-02-27 3 AFP THE US Agriculture Department predicted on Thursday that the value of US farm exports for fiscal 1988 would reach a four-year high of U5532.5 billion. The latest outlook was US$5OO million and 1.5 million tonnes above previous forecasts, issued on DecAFP - 167 words
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191 1988-02-27 3 Reuter FORMER Federal Reserve chairman Paul Volcker said the US continues to live above its means, but he predicted better days for the nation s manufacturers. "If we want to get rid of our budget deficit andReuter - 191 words
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Article, Illustration501 1988-02-27 3 HARISH MEHTA - Resistance to inclusion of services By HARISH MEHTA INDIA is opposed to the US proposal to include services in the General Agreement on Tariffs and Trade (Gatt) and believes many other developing countries are apprehensive about the US plan, according to India's former Finance Minister,501 words
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Article, Illustration274 1988-02-27 3 NYT PRIME MINISTER Rajiv Gandhi announced on Thursday that India had successfully tested a sur-face-to-surface missile. He said it would be used purely for defence purpoeee. The weapon was fired on Thursday morning into the Bay of Bengal from the Sriharikota space centre onNYT - 274 words
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Article62 1988-02-27 3 Reuter FOUR TOP Kremlin officials sent to troubled Armenia and Azerbaijan have apparently failed to quell nationalist demonstrations, in the Soviet Union's biggest reported ethnic crisis since the 1966 riots in Kazakh- stan. Residents in the Armenian capital of Yerevan said on Thursday that the city centreReuter - 62 words
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Article952 1988-02-27 3 ARRIVALS Operator Sorvfeo Local From number timo OA OA471 0015 ATM SU SQ11 0115 LAX/NTT UA UA805 0120 SFO/HKG MAS MH619 0125 KUL CAL Q333 0405 TP€ SU SQ41 0610 MAA MX MX746 0725 MRU MAS MH601 0730 KUL MAS MH681 0620 KUL SU SQ417 0620 DX8/KHI952 words
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286 1988-02-27 3 UPI A SENIOR Pentagon official on Thursday defended Japan from US criticism of not doing enough on defence, saying it is on the verge of having the world's third largest military budget. Noting that Japan spends about one per cent of its nationalUPI - 286 words
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Article107 1988-02-27 3 UPI REFLECTING steady economic recovery and stable commodity prices, Japan's consumer spending jumped remarkably in January. official and unofficial statistics showed yesterday. Analysts, however, viewed the trend as indicating a shift in money flow from savings and stock purchases to goods as a resultUPI - 107 words
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218 1988-02-27 3 AFP BEIJING and Paris have signed an agreement aimed at plugging the brain drain which, over the past 10 years, has cost China the loss of at least 20,000 trained youths who chose to stay in the West at the endAFP - 218 words
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192 1988-02-27 3 AP SOUTH KOREA ranked 11th in steal production in the world last year with 16.7 million tonnea. the Korea Iron and Steel Aaaociation said in Seoul yesterday. The association said South Korea moved up one notch from 1986 when it wasAP - 192 words
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Page 3 Advertisements
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Advertisement60 1988-02-27 3 fI If Jf IFI If Th e business person's chotce, every I I II I II I Tuesdoy, Thursday, Saturday and I I II /I I 1 f Sunday. Leaving Changi Airport at A V_yX 1 A 22:05 hours and arriving at Lester B Pearson International Airport the following day.60 words
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Advertisement146 1988-02-27 3 Wacome to the new comforts of home There are changes in the air at Hotel Equatorial Kuala Lumpur. Most important is the total make-over in our rooms and suites, now in a modern, contemporary style that's charmingly comfortable. fU A new refreshing look greets you at our lobby. Plush, inviting146 words
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Page 3 Miscellaneous
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Miscellaneous103 1988-02-27 3 \£ML V/S''*L 04-04 Oowdy 22/20 Rain '9/10 Ooudy 16-08 Clear unav 16/16 Ooudy -3/-8 Clear 00-02 Cloudy unav 07-01 Cloudy 04/00 Cloudy 04/00 Cloudy 26/23 Cloudy -5/-9 door K Lumpur 33/23 Shower* Lkno 27/20 Clear Lisbon 16/10 Clear London 07/00 Showen Lot Anqaiot 24/10 Cloudy Madrid 14/03 Clear Manila 32/20103 words
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Miscellaneous64 1988-02-27 3 Doonesbury j A,' fry 'mfiyiti MY LO6 CABIN SMALLER THAN YOUR LO6 /CABIN! ifflll ..JMCH.NZBXES6 TO SAY, THE PRINCE UASfORCEPTOSfT OUT. m BY GARRY TRUDEAU LATER, PUR/N6 A SPECIALLY HANPtCAPPBP EVENT FOR JUST THE PRINCE, THE VEEP. ANP PIERRE LEPETE... MY PAPPY MADE ME SCRAPE THE <• .~THE PR/NCE BLEMJTHEM64 words
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MONEY AND EXCHANGES
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Article1642 1988-02-27 4 Reuter SINGAPORE: THE US dollar yesterday closed lower against most major currencies on speculative selling in fairly active trading, dealers said. They said bearish sentiment for the dollar was reinforced by news of a smaller than expected 4.5 per cent growth in US fourth quarter gross national product.Reuter - 1,642 words
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Article, Illustration171 1988-02-27 4 inaiciiti wit iTtflff 09 prim* tending rate* o< 12 ma|or banks In S'pore Interbank market rataa (offar/bld) on Fab 26 us$ DM SWFC Y«n 7 4myt 3/4 J/« i/» a 7/u s/i« ia/i-i/i 4 a/i*— i/i* 1 mlh «11/1* —11/1* —«7/> a r/i* j/i* n/i-i/J 4 7/1*171 words
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Article52 1988-02-27 4 THE OVERNIGHT rata on tha Singapora Interbank market roee 1/4 point from Thursday. Tha term rates remained unchanged. S$ Inti c ratos at 12 noon i yostor dayt om MO Orm1 -month 3 w* OvemfgN 3 3 1/1* 3 3 1/0 mod»i 3 3/4 3 13/1* 3 352 words
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Article83 1988-02-27 4 Treasury bills Porlod InKM Yostorday's closing Day's cod* Maturity MD Of«f HIGH LOW 3 irtoith* BQ*****E 26.5.88 2.98 2.93 2.97 2.93 6 months BY*****S 30.6.88 3.01 2.96 1 y«or •Y*****T 24.11.88 3.02 2.97 2.99 2.99 Government notss and bonds P»rlod ltsu« Maturity Coupon Yostor day's closing Day's83 words
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Article279 1988-02-27 4 Asian market ASIAN DOLLAR deposit ratea closed ateady at slightly firmer opening levels, but trading waa quiet in the afternoon on lack of interest, dealers said. Short-datee firmed 1/16 to 1/8 point at the outset following a marginal rise in US Fed funds rate but were unchanged in aubaequent trading.279 words
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Article454 1988-02-27 4 BA Futures Inc JUNE EURODOLLAR yesterday opened slightly off from Chicago'a cloaing level 02.94 and slid further to s low of 92.91 in eerly trading aa the beariah aentiment waa affected by former Fed chairman Paul Volcker's forecast thst intsrest rates would rise in the near future. Trading rangeBA Futures Inc - 454 words
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Article219 1988-02-27 4 Reuter IMM forslgn currency futures yesterday ended slightly higher in thin trading after light shortoovering pushed prices to the top of session ranges. Yen sdged to fresh session highs at the close, snd other contrscts firmed. Volume wss light Activity was erratic throughout the session. Prices bounced within tightReuter - 219 words
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Article146 1988-02-27 4 QoM futures on Fob 25 100 ftvy anm USI par troy our 08 0*m LM Ma 435.OO 435.00 429.00 42X20 4 43X20 4 433.30 4M tO 440.00 140.40 429JO 43X00 4X170 4 Aug ***** 443 00 430.00 44X20 -0.60 Oo 441,00 441.00 44X30 447JO OJO Dac 452.00146 words
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Article1637 1988-02-27 4 CURRENCY FUTURES OPTIONS FrMay, F*b* My 26 1900 OCuTVCni MARK 1 MITM Mto 1 t t I Lpm 0M Mgl Lot Ml 54 CAM 95 CAM M CAM 57 3294 230 MM 1 SO 1340 129 SA 3 59 454 49 30 20 30 40 11 11 11 S31,637 words
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Page 4 Advertisements
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Advertisement11 1988-02-27 4 IB IVXNQU INIXRIiZ 3 Shenton Wr*y Shonton Housp Smq.ipi up 011 words
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BANKING AND FINANCE
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496 1988-02-27 5 FT PEAT GROUP, the UK banking and financial services company in which Equiticorp of New Zealand recently acquired a controlling interest, is to be split up into three separate groupe. The company announced details of a demerger scheme on Wedneeday in which GPG share- holdersFT - 496 words
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180 1988-02-27 5 NYT IN A SIGNIFICANT change in policy, the US Federal Reserve Board has altered the way it monitors the economy. Its vicechairman, Manuel H Johnson, said on Thursday the new approach will give the financial markets a better sense of where interest ratesNYT - 180 words
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421 1988-02-27 5 NYT THE FEDERAL RESERVE Board voted unanimously on Thursday to permit the Bank of New York to proceed with its US$l.O6 bil- lion takeover bid for the Irving Bank Corp, provided it raises large amounts of new capital. Though the approval isNYT - 421 words
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762 1988-02-27 5 Analysts expect USs4b to USs7b to be sold NYT Reuter BANKERS were playing a guessing game yesterday, trying to gauge how many banks around the world will bid for the Mexican bonds being offered today at a special auction and the prices atNYT; Reuter - 762 words
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Article157 1988-02-27 5 Reuter THE UNION BANK of Switzerland's net profit fell by 3 per cent to 753 million Swiss francs in 1987 from 776 million in 1996. The bank said on Thursday the dividend would be set at 120 francs per bearer sharer, against the previous year'sReuter - 157 words
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138 1988-02-27 5 Bernama ES THE ANNUAL GROWTH of Malaysia's three monetary aggregates moderated in November with M 1 currency and private sector demand deposits recording 15.7 per cent growth against 18 per cent in October, the Bank Negara reported on Thursday. The two broaderBernama ES - 138 words
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COMMODITIES
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Article250 1988-02-27 5 HONGKONG: GOLD yesterday closed firmer near the day's high, mainly reflecting the dollar's weakness. It ended at U*****.50/435.00 an ounce against New York's U*****.00/50 and the U*****.20/70 finish here on Thursday. On the local market, gold rose HK$lO to end at $4,066 a tael. Coins were steady in250 words
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Article243 1988-02-27 5 Chinese Produce Exchange S#ll#n' noon dorinQ pfioM on Fob 26 (SS/100 kg) Coconut oil Mk FOB 110.00 OW drum FOB 130.00 Now drum FOB 124.00 Copra Mixed (loo**) 63 u ion on Popper Muntok FOB NLW 11 20.00 Xjrawoi miiTV FOB foq NLW 1105.00 Sorowofc ipoflnl Mode FOB243 words
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Article298 1988-02-27 5 London Commodity Exchange Ivytf/ScNif doting priesi on Fob 25 (£/lonno union spodflod). High/Low Soloi Raw No 6 OF No 6 FOB WNto No 5 182.6/173.2 (*****) 214.20 (219.00) 181.20 (186.00) 227.00 (229.40) rroviovs ckn*>g por Htcos In Oil* (USS/tonno) CoWn loth in-«for* London, toHort option OF London Mor298 words
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Article257 1988-02-27 5 Reuter SINGAPORE PRICES yesterdsy closed steadier with March 1 RSS buyers quoted at 219.00 cents/kilo, up one cent from Thursday's close. Deslers said the market was firmer at the outset on some speculative buying interest following higher oversees advices but prices eased slightly towards midday on light profit-taking. TradingReuter - 257 words
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Article239 1988-02-27 5 RAS prices In c*nta/k«. FOB In b«t# NOON CLOSE Buyers SfNffl Buyers Saltan bit 1 RSS Prompt 221.50 222.50N 222.00 223.00N b* 1 RSS Mar 88 218J0 219.50 219.00 220.00 bit 1 RSS Apr 88 219.00 219 JO 219J0 220.00 bit 2 RSS OF 217.00 219.00N 217.50239 words
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Article84 1988-02-27 5 (cann/kg, 1-ton po««n) MARCH 1988 APRIL 1988 (currant month) (forward month) RAS NOON NOON Ivyan Saltan lnytn Saltan SS* 20 211.30 21 3 SON 211.50 213.50N SS* 50 210.00 212.00N 210.00 21 2.OON MRELB kvy*o Saltan Ivytn S«Im SM* cv 284.00 286.00N 285.00 287.00N SM* L 283.0084 words
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Article58 1988-02-27 5 DESPITE sharply lower crude that is still plummeting, products maintained some firmness. DmM (ApriO WM Twum USS/Wtai Owgi 14.33 -040 WTMAJJSP' 15 90 4XM Products (FOB S'pore) Hiiwwi Goaott UX/burt Chang* 31.90 Midi 30.20 5y|pHyf Wfljy ImMm, ISW* 14.90 ndi Hmv* W I3J* USS/mmw Oang« 149JO 758 words
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Article104 1988-02-27 5 Reuter THE KUALA Lumpur Tin Mark at (KLTM) ttn prlca yaatarday andad at M 517.40 a kg, unchangad from Its pravtoua cloaa In fairly modarata trading, daalara aald. Buyara and aallara dacldad to cloaa daala at tha opanlng M 517.40 prlca, thay aald. A total of 105 tonnaaReuter - 104 words
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Article470 1988-02-27 5 Crude palm oH futures yesterday closed mixed in active trading on the Kuala Lumpur Commodity Exchange. Dealers said prices were pressured by news that Brazil's soya bean production for the 1967-88 period will increase to about 19.6 million tonnes from 17 million tonnes previously. Spot month March was470 words
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Article224 1988-02-27 5 Reuter CHICAGO Board of Trade soybean futures on Thursday closed 3-3/4 to eight US cents lower as a late selloff extended early losses, traders said. May closed 5-3/4 cents lower at US$6.2B-1/4 a bushel. Late fund selling pressured the May contract, although other funds were buying that month onReuter - 224 words
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Article219 1988-02-27 5 Reuter CHICAGO Board of Trade wheat futures on Thursday closed mixed to lower with the nearby months firming late, as prices closed 3/4 US cent higher in March to 1.0 to 1-3/4 cent lower in the deferred months. May closed unchanged at U553.25-3/4 a bushel. Continued speculation that USDAReuter - 219 words
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PERSPECTIVE
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Article519 1988-02-27 6 MARRIAGES being a symbol of harmony and understanding, it should not be difficult to understand why many Chinese couples-to-be are looking forward to a certain day in August this year on which to tie the knot. The happy harmony of date, month and year which will519 words
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Article, Illustration1669 1988-02-27 6 FLORENCE CHONG - New Zealand is still feeling the shock waves of last October's stock market crash. The market indicator for New Zealand stocks, the Barclays Index, has been on the decline and1,669 words
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133 1988-02-27 6 Ng Keat Seng - Letter to the Editor Ng Keat Seng IniinH 11 niHuvy nfvvnw Our Sir Sidney C Roft (BT Feb 13-14) repeats matters on Section 44 of the Income Tax Act which have already been widely aired. We have cleared to the satisfaction of the Singapore133 words
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Page 6 Advertisements
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Advertisement72 1988-02-27 6 THEM N <v V >-■ ZS> y V. til 3 *4 zi >V< m. lit 11 I il The Straits Times special pictorial feature on March 12 gives a splendid coverage of the MRT's official opening at the City Hall Station. This is to commemorate the completion of the entire72 words
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Page 6 Miscellaneous
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Miscellaneous812 1988-02-27 6 CRYPTIC PUZZLE ACROSS 9 Are quick to tell you that shop window dummies should (4, 5) 10 Recreation for doctors? (5. 4) 12 Desire by half four to start generally (4) 13 Scold for putting a sign outside (6) 14 Give the bus pass in, mate (7) 15 Contributions to812 words
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Executive Lifestyle
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Article255 1988-02-27 7 PARANOIA or reflex? We weren't sure when this incident was reported to us regarding a Japanese businessman. He was having lunch with several Singaporeans during his first I visit here. One of his hosts unconsciously engaged in a I rather uniquely local habit among men here255 words
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Article, Illustration938 1988-02-27 7 SWARAN KAPUR - pt/V4**^ With SWARAN KAPUR IT'S STRANGE how something that happened ages ago suddenly bounces back to mind. In Janoary 1962, I was returning with my family to Singapore after a two-month winter holiday in India. We were on a train from New Delhi to Bombay938 words
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Article, Illustration747 1988-02-27 7 LILIAN ANG - By LILIAN ANG TREK THROUGH thick undergrowth. Brave sun, swamp and vicious mosquitoes just to discover a soil or plant type. The idea may not appeal to many people. For most of us, plants and soil are. if anything, merely the basics of possiblyPictures by AZIZ HUSSIN - 747 words
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Executive Lifestyle: Entertainment & the Arts
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Article, Illustration567 1988-02-27 8 JAIME LYE - MUSIC By JAIME LYE DEAR TINA. I just want you to know that 'for your sake, I had to sit beside a giant who I swaar lives on a staady diat of onions and overnight salmon. At first it wasn't that bad, but whan567 words
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Article, Illustration604 1988-02-27 8 CHARLES SAVAGE - By CHARLES SAVAGE JOHN MILES sat back and took a deep breath. To say he looked tired would have been an understatement. He and the reet of the Tina Turner entourage had just blown in from the airport from Jakarta into the Hilton Hotel,604 words
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909 1988-02-27 8 Lilian Ang - by Lilian Ang THE SCHOOL of Ornamental Horticulture is located in the heart of the Singapore Botanic Gardens. It is often considered the training ground for local horticulturists, but the school's principal, Mrs Jennifer Ng, is quick to add that hers is not just909 words
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Executive Lifestyle: Entertainment, the Arts & Pursuits
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Article, Illustration459 1988-02-27 9 WORKSHOPS CULTURE, food and insight into Singaporean minorities are being offered in a one-day workshop designed to show that race is more than just skin-deep. On hand to help the Singapore Heritage Society get that message across are a couple of minority members who have made major459 words
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Article788 1988-02-27 9 MONICA GWEE - MEN By MONICA GWEE I WISH I COULD TELL YOU which woman it was who, when asked if she "sampled the local men" whenever she travelled on business trips without her husband, said: "Why settle for hamburger when I can have steak at home?" But any788 words
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Article, Illustration719 1988-02-27 9 JEFFREY TSANG - MOTORING By JEFFREY TSANG THE TIGHTEST and most treacherous corner of the Johor Grand Prix circuit is called the BMW Corner. It is the last of a series of four tight turns before the track flashes into the long straight in front of the spectator stands.719 words
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Article, Illustration789 1988-02-27 9 THEATRE THE ANCIENT GREEKS knew how the power of theatre could move minds and lift souls. And now, a brave Singaporean theatre group is tasting the headiness of a vibrant experiment rooted in the Grecian tale. Medea the powerful and disturbing tragedy by Euripides. "She789 words
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Article793 1988-02-27 9 CINEMA: Teen Wolf Too starring Jason Bateman, Kim Darby, John Astin and Paul Sand. Showing at Cathay: 11; 1.30; 4; 6.30; 9.15. Profect X starring Matthew Broderick and Helen Hunt. Showing at Orchard: 11; 1.30; 4; 6.30; 9.15. Dirty Dancing Starring Patrick Swayze and Jennifer Grey. Showing at Capitol:793 words
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Executive Lifestyle: Sports
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Article, Illustration809 1988-02-27 10 WALTON MORAIS - GOLF By WALTON MORAIS A BOGEY on the final hole cost Tray Tyner the course record; Taiwan's Lu Hsi Chuen maintained his three-shot lead; and Singapore had three golfers playing under-par totals.809 words
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198 1988-02-27 10 UPI JAPAN'S Jumbo Ozaki, winless in sporadic appearances on the PGA tour, fired a 6-under-par 65 Thursday and was tied with Dan Pohl mid-way through the first round of the U*****,000 Los Angeles Open. Ozaki, a 41-year-old star onUPI - 198 words
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Article, Illustration516 1988-02-27 10 SKATING AFP AMERICAN Debi Thomas's bid to dethrone Katarina Witt as Olympic;. women's figure skating champion fell foul of the judges in Calgary on Thursday night. And her low marking for presentation brought howls of protests from her vociferous British-born coach, AlexAFP - 516 words
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249 1988-02-27 10 SAILING UPI THE NEWS that the San Diego Yacht Club (SDYC) has now decided to make participation in September's America's Cup challenge race open to all nations, was greeted with derision in Australia yesterday. The club bowed to pressure ofUPI - 249 words
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514 1988-02-27 10 SKIING UPI ITALIAN prima donna Alberto Tomba made good his boast by capturing the Olympic men's giant slalom ski race by the biggest margin in 16 years on Thursday and Soviet cross-coun-try skiier Raisa Smetania equalled the career record for Winter Olympic medalsUPI - 514 words
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504 1988-02-27 10 Jerome Fandor - RACING 1 on TMCK wrtn Jerome Fandor THE AMATEURS will be back on the track in Penang this weekend for the first time since October last year. Noticeable absentees are the horses from the Bukit Timah Saddle Club and with no Singa-pore-based amateur horses504 words
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128 1988-02-27 10 BOXING Reuter BILLIONAIRE real estate developer Donald Trump paid more than US$ll million for the rights to stage the Mike Tyson-Michael Spinks heavyweight title fight. The fight, one of the biggest boxing matches in history pitting the undisputed and un- beaten championReuter - 128 words
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Article, Illustration627 1988-02-27 10 MKE THUMBA - BRIDSK *r MKE THUMBA QUITE OFTEN beginners or even average players avoid reaching game in minor suits. This is mainly due to lack of a comprehensive system of bidding between partners. The examples are taken from the second Epson World Bridge contest held in May 1967. Vulnerable:627 words
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Executive Lifestyle: Personal Investment
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Article, Illustration1340 1988-02-27 11 RAMESH CHANDIRAMANI - STOCK MARKETS By RAMESH CHANDIRAMANI THE PERFORMANCE of the Tokyo stock market is making the international fund managar narvous. The market is doing what no other saams to be racing back up to its pre-Oct 19 higha. Foreign fund managers are faaling anxious because theySource: Singapore Normura - 1,340 words
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Article, Illustration540 1988-02-27 11 Ramesh Chandiramani - Genting Berhad a Highlander of a stock STOCK WATCH by Ramesh Chandiramani ONLY DURING PERIODS of extreme market weakness has the share price of Qenting Bhd fallen below Ms 4. Long-term charts reveal that the stock spends more time above than below that level, and even when it falls under540 words
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Article, Illustration291 1988-02-27 11 CHART mi N T RC THE SPECTRE that a rising Tokyo market would help stabilise the situation for all other East Asian exchanges remained just that a ghost of a notion. Although the Japanese market continued to advance each day thisRC - 291 words
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807 1988-02-27 11 Ramesh Chandiramani - PRECIOUS METALS Keeping trade... by Ramesh Chandiramani WHILE GOLD continues to have fewer and fewer supporters these day, one Industrial metal nickel has found many new friends. Gold fell to a 10month low of US$43l per troy ounce on Thursday at807 words
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Page 7 Advertisements
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Advertisement16 1988-02-27 7 FOR A CHANCE TO WIN A ■H B1 1 AWJf. CALL 532 3577 CHASE CLASSIC VISA16 words
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Advertisement219 1988-02-27 7 A vardant school, Piqc S Timeless values. These two exquisite watches, in the shape of peaches, are called «For China». The craftsmen of Geneva were renowned for their mastery of enamel and these watches are a triumph of their art. By their efforts the subtle gradations of colour found in219 words
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Page 8 Miscellaneous
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Miscellaneous1528 1988-02-27 8 Algiers, Bombay and Vietnam Movies Based on the novel by Detective Ashelbe, Algiers tells a gripping tale of notorious French criminal Pepe Le Mok who hides out at the Casbah, a town on the outskirts of Europe. Charles Boyer, Hedy Lamarr and Gene Lockhard are well-cast in this 1938 production.1,528 words
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Page 9 Miscellaneous
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Miscellaneous1078 1988-02-27 9 r^'l Saturday BBC 88.9 mHz in VHF Band II SAM World News 0.08 The World Today. 1.2S A Letter from Northern Ireland 8.30 Financial News 6.40 Reflections 8.48 Sports Roundup. 7.80 World News 7.0f Commentary 7.15 From the Weeklies 7.30 Multitrack 3. S.OO World News. 8.88 News about Britain 8.181,078 words
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Page 11 Advertisements
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Advertisement355 1988-02-27 11 FIRST CHICAOO CORPORATION For Wm Year (In thousands) I I T7-TT-Trading account profits Foreign exchange trading profits F<>jciif)f and mveetment management toes Cred t card tees Sarvica charts and oomnaeettne E(Mtysaajnkaaoains (toasas) Investment securities Qains i tosses Gam on partel settlement of pension obigabon Other ncorra Saianas Employee bene Occupancy355 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration4112 1988-02-27 12 BOUTS of last-mi nut* buying helped lift the Singapore stock msrket at its close after a day of dull and featureleee trading. While stock markets in Tokyo and Hongkong rallied, the local market drifted on a lack of intereet with prices4,112 words
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Article230 1988-02-27 12 SINGAPORF M Nov W*» Mb AT 224 If N out DBS M U*k| Omm M dry D»v 30* SO* Rises 270 140 isa 735 352 945 440 344 344 520 20 20 14 15 12 10 4 4 4 5 N IT 04/03* ■T CADI •T 10-4*7230 words
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Article2569 1988-02-27 12 BID sad after prices MaOsd and baMaoos la mad reported to the Stock f la brackets la lots of MM units ■aloes otherwise apoflflsd All Haw Mkaeat Contracts are Si after the word "SETT', oard deals (la lots of UN arc quoted after the letters2,569 words
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Article216 1988-02-27 12 THK AYER MOLKK RUBBER COMPANY Barhad: 73rd AQM Bt N0.22 (Uppor floor of No JO), Jolan Hang Jabot ***** Malacca, today at 10-30 am. FBIBT CAPITAL CORPORAHON LMM 12th AOM at Shangri-La HoM. Summit Room. Oranga Grove Road. Singapore 10ES. today at YOJOam. TME mm STUAITS IMM PRESS216 words
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Article279 1988-02-27 12 Manogers' prices for Feb 27 29 Singapore Unit Trust Th* Co—rc* 091 Tin Savings Fund 0 JO 0.J7 044 Japan Gr Fund Stanton Thrih Fund UOB Manage UniKi»d ltabo*d 141 0J0 mont ail aw l-ii o» 0AI 1015 S'por* frog Fund (134 Spors Sac Fund 041 S'por* ImW279 words
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Page 12 Advertisements
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Advertisement10 1988-02-27 12 M onagers ust anage BT shows you how every Monday.10 words
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COMPANY NEWS
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Article, Illustration350 1988-02-27 13 ELAINE KOH - By ELAINE KOH THE TRIAL for businessman Allan Ng and Standard Chartered banker Michael Taylor on chargas of making misleading statements was fixed yesterday for Oct 3-28. Da tee for another trial to hear one charge of insider trading against Ng were350 words
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334 1988-02-27 13 MBT GUINNESS Malaysia has reported a group pre-tax profit of M 546.23 million for the year ended Dec 31, a marginal improvement over the previous year in a difficult year. The latest pre-tax profit is an 11.9 per cent improvement over the results forMBT - 334 words
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Article416 1988-02-27 13 MBT GUINNESS Malaysia will invest more than Msso million over the next four years to refurbish and renovate its existing brewery built in 1664. The investment will be self-fi-nanced from the company's M 564.5 million cash reserves, executive chairman DF Burditt said in an interview. MuchMBT - 416 words
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Article478 1988-02-27 13 THE KUALA LUMPUR stock nsrket had another mixed to slightly easier session yesterday amid lackadaisical trading conditions. Business volume remained thin as operators stsysd non-committal. Ths only bright spots yesterdsy were a handful of counters which bucked the generslly soft trend to efoss with doubls-digit gains.478 words
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233 1988-02-27 13 PUBLICLY-LISTED construction company Lim Kah Ngam Ltd is venturing into Sri Lanka with a new joint venture to build housee. Group chairman Lim Kong Eng told BT in an interview that plana have already been made to launch a pilot scheme to develop233 words
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Article79 1988-02-27 13 UNITED Overseas Bank told the Stock Exchange of Singapore that it has no intention of announcing a rights issue when it released its 1967 financial year results. This was in response to an article in BT's Taking Stock column which has raised the poesibility of79 words
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Article149 1988-02-27 13 IN A TABLE accompanying the article "OUS poets sharp fall in after-tax group profits", published in BT on Feb 25, it was reported that the after-tax profit of United International Securities Ltd had fallen by 4 per cent in the first half of 1967. The table should149 words
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Article, Illustration535 1988-02-27 13 CORRINA LIM - Honeywell files petition against Bestland By CORRINA LIM THERE SEEMS to be no light at the end of the tunnel for beleaguered hotel and property group Town and City Properties Ltd. Its 51 per cent subsidiary Bestland Development (Pte) Ltd, now535 words
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346 1988-02-27 13 MBT SCANDAL-PLAGUED Pshang Inveetments PLC, now in the process of being wound up, will be taken off the official list of the Kuala Lumpur Btock Exchange from Monday, Feb 29. Pahang Investments'* 7 per cent cumulative preference sharee will aiao beMBT - 346 words
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Article2120 1988-02-27 13 Business dons 810 and offer price* officially listed and bueineea In and raportsd to the Kuala Lumpur Stock Exchange yeetorday, wllfi the number of shares trsdsd shown In bracked In lota a* 1,000 units unlees otherwise specified. INDUSTRIALS Aonomoto cb) Alcorn 1618 61.55) ID 612,120 words
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Page 13 Advertisements
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Advertisement390 1988-02-27 13 NOTICES iCfc»:' 6 T f.\ w i 1 ¥0 THE COMPANIES ACT, CHAPTER 00. AND IN THE MATTES OF OYER SMITH PRIVATE LIMITED (Mnbtn' Voluntary liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 306 of the Companies Act, Chapter 60 that a Final Meeting of the Members of the abovenamed390 words
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Advertisement383 1988-02-27 13 (Formerly known h LYNX FILM PRODUCTION (FJL) NOTICE OP PR LTD) OF RESOLUTIONS 11 VI) IJI ■i VOLUNTARY WINDING UP [PURSUANT TO SECTION 388(1)1 At meeting* of member* and creditor* of PLANTATION PRODUCTIONS PTE LTD duly oonvsnsd and held at 11 Collyer Quay Unit 12-08 The Arcade Singapore 0104 on383 words
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WORLD MARKETS
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Article113 1988-02-27 14 THE CAMPEAU CORP has agreed to sell its Brooks Brothers chain to Marks Spencer PLC. the big British retailer, for US$77O million if and when Campeau acquired Federated Department Stores Inc. The joint announcement by Campeau and Marks Spencer appears to be a response to doubts113 words
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Article112 1988-02-27 14 HONGKONG Hongkong Index Friday 1,***** Thursday 1,542 88 Week ogo Closed Hang Song Index Friday 2.***** Thursday 2.***** Week ago Closed All Industrials Friday 2.0189 Thursday 2.015.2 Week ago 1,993 1 NEW YORK Dow Jones Thursday 2.017 57 Wednesday 2.***** Week ogo 1.986 41 TOKYO Nikkei Average Friday112 words
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Article33 1988-02-27 14 MARUBENI CORP and Mitsubishi Heavy Industries Ltd won a 2.5 billion yen order for a shield ex- cavator from Transmanche Construction SA of France, a Marubeni spokesman said. Reuter33 words
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754 1988-02-27 14 New York Reuter A SELLING SPREE in the last hour of trading sent stocks on the Wall Street sharply lower on Thursday. erasing a 30-point afternoon gain and crushing hopes of surpassing a post-crash high. The selling was triggered by commentsReuter - 754 words
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665 1988-02-27 15 London Reuter SHARE PRICES on the London market were narrowly mixed at the opening yesterday as the session got off to a cautious start. By 1020 GMT the FTSE 100 Index stood 9.9 points lower at 1,772.5, having reached a low of 1,771.8 atReuter - 665 words
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Article1126 1988-02-27 15 Amsterdam PCS X FU ABN 40 30 1.2 86 70 0.3 Ahotd 73 ao 0 4 Akzo 90 70 2 3 Alranta 144 00 AMEV 44 20 •0.1 Amro Bank 62 70 18 Am Stad 127 00 3 2 Barlial 13 50 0 2 BOLS 114 SO 0 2 Boraumii1,126 words
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Article1430 1988-02-27 15 Hongkong PRICES on the Hongkong market closed higher in active trading yesterday, buoyed by improved sentiment following 12 consecutive days of gains in Tokyo, brokers said. The Hang Seng Index ended 26.04 points higher at 2.383.92, while the broader based Hong Kong Index rose 19.08 to 1,561.96. Turnover1,430 words
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Article115 1988-02-27 15 *EI 2* WON KM Kangwon Ind Kia Motor ***** ***** ***** -600 -700 -600 ***** -500 Sugar ***** -300 ***** -1000 Daelim Ind ***** -1300 ***** -500 Daewoo Corp Deewoo Heavy Daiahin Securities ***** ***** ***** ***** -1000 -600 •1500 •600 •1500 1000 -too -750 -400 -300 -600 -1000115 words
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Article514 1988-02-27 15 Reuter SHARE PRICES on the Tokyo market closed up for the 12th consecutive session in robust trade yesterday, on buying propelled by a dollar stability, good domestic economic growth, and promising company profits. "Before, people took the stance to sell when the market reached certain levels." said broker RobertReuter - 514 words
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Article454 1988-02-27 15 Reuter THE AUSTRALIAN share market closed easier yesterday but off its lows, dragged down by weaker gold and mining stocks. Brokers said the resource sector was still depressed by yesterday's US$lO fall in bullion prices to about US$433 an ounce and by lower oil prices yesterday. "Investors are nervousReuter - 454 words
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Article158 1988-02-27 15 Reuter THE SECURITIES Exchange of Thailand Index slid 0.57 to 372.32 yesterday on a turnover of 15,010,232 shares worth 1166.28 million baht. FES M BAMT -1 •2 unch Ayudhya Investment 400 Bangkok Agro-lnd 92 5 Bangkok Bank 351 +12 Bank Of Ayudhya. 368 Charoong Thai Wire A CaWa 519Reuter - 158 words
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Article235 1988-02-27 15 FEB 26 All Sincere Indus NT t 2 78 008 -1.5 •2.5 -1 -1.5 -1 -0.6 -1.1 2 5 Kolin 36 40 -1.1 Kuochan Dav Laa Chang Yuan Cham Indus 51 50 49 50 56.50 -1.5 -1.5 -1.5 82 50 Nan Ya Pi as 65 50 -1.5 Chang Hwa235 words
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Article62 1988-02-27 15 FEB 26 PESOS Martttvl AcO|« Mining On an tal B Phil Ovartaat 0041 036 unch 0 34 Anglo Phil 0 025 004 unch P>cop PLOT 22 unch 147 •1 San Migual B 136 Banc Patrolaum 0 016 06 unch Saatronl Si ma Darby 0 023 27 unch 680 Surigao62 words
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Page 14 Advertisements
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Advertisement191 1988-02-27 14 4 COUKVOISIER XOWhere to eat, drink... Heavenly! Esoflcfood A A ne food paradise offlKOrfoli§ bat (e nflce joa. Poolside (level 5) March 4 March 2 Savour more than 30 sumptuous dishes prepared by Hongkong chefs at our buffet lunch dinner. At $15.90 per adult $9.00 per child under 12. AM191 words
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Advertisement145 1988-02-27 14 I W0: ENTER THE LUNAR NEW YEAR 4 prosperity delicacies, at MING PALACE Lunch 11.30am-2.30pm, dinner 7pm-10.30pm, 17th February 2nd March. r t A toss for good luck 4 Salmon Yu Sheng, Cantonese style Reunion time, with family, with friends With a Sumptuous Feast Your choice of Set Dinner for145 words
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Advertisement190 1988-02-27 14 UNIQUELY HYATT Brannigan's is a pub unlike others if specialises in fun! Cocktails. snacks. Sunday jazz jam sessions and pub games from the world over, await you in the basement of the Hyatt. Opening hours. 11.00 am to 1.00 am No ties, please V w 7 1 Live entertainment si190 words
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Advertisement160 1988-02-27 14 WW. IJ. 1.1 IN m m m v-;fj 'J J S in ENJOY THE LUXURIES AT HAWKERS' PRICES m i 11 \ui niwi K Prince Take a culinary journey around the world at our new Hi^iTea. Treat yourself to a delicious array fi V"A J 1 international delicaaes served at160 words
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Advertisement125 1988-02-27 14 <& «r Austrian Fest From the land of' "Hie Sound of Music'' comes another art form delicious food like Wienerschnitzel, Fiaker-goulash, Paprika Chicken, sausages, salark apple strudel, Sacher Cake, Emperor's pancakes and much, much more! At $31 for adults and $15 for children, we're sure you'll enjoy the feast as125 words
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Page 15 Advertisements
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Advertisement580 1988-02-27 15 and entertain 4 PALM G*LL ONE GOOD REASON TO LUNCH AT THE PALM GRILL IS OUR APPETISER BUFFET Another is the choice of main courses. For between $26+ and $40+ you can select from our appetiser buffet including seafood, smoked salmon and oysters. Choose from many lavish main courses. And580 words
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Article, Illustration694 1988-02-27 16 LIM SOON NEO - By LIM SOON NEO THE LOCAL PRESS has an exceptionally difficult task, Briga-dier-General (Reservist) Lee Hsien Loong told members of the media last night. Unlike the British Broadcasting Corporation, which he pointed to as the closest model of good journalism,694 words
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418 1988-02-27 16 ASEAN has a great deal at stake in the US-Japan relationship and the reconciliation of these two economic superpowers is essential to regional economies. In the latest edition of the Mirror, a publication of the Ministry of Communications and Information, Singapore's Ambassador to the US,418 words
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374 1988-02-27 16 BRIAN GOMEZ - By BRIAN GOMEZ AUSTRALIA recognises the need to be more effectively linked with the "dynamism of Singapore's economy" and for Australian companies to exploit export market opportunities. This view was expressed by the Australian Minister for Foreign Affairs and Trade, Mr Bill Hayden,374 words
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Article115 1988-02-27 16 Reuter PENINSULAR Malaysia's trade surplus more than doubled last year, the Statistics Department announced in Kuala Lumpur yesterday. The 1987 surplus rose to M 55.93 billion from M 52.79 billion the year before, further proof the economy is well out of recession. Exports rose nearly 27Reuter - 115 words
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Article121 1988-02-27 16 Reuter TRADERS' anxieties about a glut have pushed North Sea oil prices below US$l5 a barrel, the lowest this year. Weak prices for oil sold on the free market US crude prices are also at their lowest this year threaten efforts by the OrganisationReuter - 121 words
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103 1988-02-27 16 AFP THE US ECONOMY began 1988 with a moderate dose of inflation, with consumer prices rising 0.3 per cent in January, the government reported yesterday. Higher food prices partially offset falling energy costs in the first month of the year. The January hike inAFP - 103 words
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Article271 1988-02-27 16 Reuter AMERICAN Treasury Secretary James Baker urged South Korea yesterday in Seoul to revalue the won against the dollar to help avert US protectionist legislation. South Korean Finance Minister Sakong II said Mr Baker told him that, because Seoul's trade surplus had grown rapidly,Reuter - 271 words
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350 1988-02-27 16 Reuter BRITAIN on Thursday unveiled controversial plans to privatise its electricity industry in the most ambitious move yet in Prime Minister Margaret Thatcher's sale of state-owned companies into private ownership. Energy Minister Cecil Parkinson told Parliament that the Central Electricity Generating Board (CEGB)Reuter - 350 words
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Article509 1988-02-27 16 BOEY KIT YIN - By BOEY KIT YIN FINANCIALLY-troubled Singapore Animal Husbandry Enterprises Ltd (Sahe) is seeking shelter under judicial management. The Sahe board of 13 directors also wants judicial managers for its subsidiary Sahe Food Industries, which owns Sahe's biggest asset a food processing factory. Both applications were filed509 words
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Article93 1988-02-27 16 Reuter COMEX GOLD futures were slightly lower yesterday in nervous morning dealings, as traders looked for opportunities to square positions ahead of the weekend. April gold delivery had a minor loss of US$O.9O at U*****.80 an ounce, standing above Thursday's low of U*****.30. Silver futures driftedReuter - 93 words
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LATE FILE
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Article51 1988-02-27 16 AFP WASHINGTON will reduce its military aid if its two major t>ases in the Philippines are ordered to leave, hampering Manila's fighting capability. US Embassy official Stanley Schrager made his government's stand known at an academic forum in Manila on Wednesday, confirming local press reports.AFP - 51 words
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Article34 1988-02-27 16 AFP SOUTH KOREAN President Roh Tee-Woo, in his first effort at promoting national reconciliation, yesterday announced a sweeping amnesty for 7,200 jailed or banned people, including 1,712 political prisoners. AFPAFP - 34 words
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Article65 1988-02-27 16 AFP REPRESENTATIVES of South Korea's two rival political opposition groups agreed yesterday to merge by holding a joint party convention next week. Mr Kim Young-Sam's Reunification Democratic Party (RDP) and Mr Kim Dae-Jung's Peace and Democracy Party (POP) will be merged into a new oppositionAFP - 65 words
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48 1988-02-27 16 Reuter TAIWAN'S Central Bank has revised its foreign exchange reserves, excluding gold reserves, upwards to U5576.75 billion at the end of 1987 from US$75 billion estimated earlier. With this Taiwan becomes the world's second largest holder of such reserves, overtaking West Germany. ReuterReuter - 48 words
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Article48 1988-02-27 16 Reuter NICKEL processing by Finland's Outokumpu Oy was back to normal after a furnace breakdown caused a reduction in output for over 10 days. Company officials yesterday estimated that the shortfall in output from the slowdown was between 400 and 500 tonnes. ReuterReuter - 48 words
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Page 16 Advertisements
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Advertisement166 1988-02-27 16 AJIf iM .mzm M s> A. X n t v Burl AUTHORISED DEALERS DAIMARU I SET AN ORCHARD I SET AN HAVE LOCK METRO ORANO SCOTTS ROBINSONS SOGO FAR EAST REPTILE HOUSE F J BENJAMIN C HANOI AIRPORT OR AND CLASSIC H ALLEY'S DEPARTMENT STORE HULK PTE LTD LEATHER LODGE166 words
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