The Business Times, 27 February 1988

Total Pages: 16
1 16 The Business Times
  • 12 1 BUSINESS TIMES MCI (P) 95/12/87 Weekend Edition. February 27-28. 1988 75 CENTS
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  • 267 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 as
    Reuter  -  267 words
  • 170 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
  • 345 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 adds
    NYT  -  345 words
  • 164 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, or
    164 words
  • 501 1  -  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 up
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  • 603 1  -  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 teams
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  • 128 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 Trade
    UPI  -  128 words
  • Page 1 Advertisements
    • 299 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 2
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    • 218 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 Vietnam
      218 words

  • HOME NEWS
    • 527 2  -  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" level
      527 words
    • 47 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.
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    • 230 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. The
      230 words
    • 145 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 was
      145 words
    • 87 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 Wee
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    • 125 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-section
      125 words
    • 95 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 from
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    • 551 2  -  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,
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    • 1093 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 Hope
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  • Page 2 Advertisements
    • 428 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

  • OVERSEAS
    • 318 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 differing
      Reuter  -  318 words
    • 167 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 Dec
      AFP  -  167 words
    • 191 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 and
      Reuter  -  191 words
    • 501 3  -  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
    • 274 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 on
      NYT  -  274 words
    • 62 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 centre
      Reuter  -  62 words
    • 952 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/KHI
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    • 286 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 national
      UPI  -  286 words
    • 107 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 result
      UPI  -  107 words
    • 218 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 end
      AFP  -  218 words
    • 192 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 was
      AP  -  192 words
  • Page 3 Advertisements
    • 60 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.
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    • 146 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, inviting
      146 words
  • Page 3 Miscellaneous
    • 103 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 32/20
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    • 64 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 BLEMJTHEM
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  • MONEY AND EXCHANGES
    • 1642 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
    • 171 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*
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    • 52 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 3
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    • 83 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's
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    • 279 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.
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    • 454 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 range
      BA Futures Inc  -  454 words
    • 219 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 tight
      Reuter  -  219 words
    • 146 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 452.00
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    • 1637 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 S3
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  • Page 4 Advertisements

  • BANKING AND FINANCE
    • 496 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- holders
      FT  -  496 words
    • 180 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 rates
      NYT  -  180 words
    • 421 5 NYT THE FEDERAL RESERVE Board voted unanimously on Thursday to permit the Bank of New York to proceed with its US$l.O6 bil- lion takeover bid for the Irving Bank Corp, provided it raises large amounts of new capital. Though the approval is
      NYT  -  421 words
    • 762 5 Analysts expect USs4b to USs7b to be sold NYT Reuter BANKERS were playing a guessing game yesterday, trying to gauge how many banks around the world will bid for the Mexican bonds being offered today at a special auction and the prices at
      NYT; Reuter  -  762 words
    • 157 5 Reuter THE UNION BANK of Switzerland's net profit fell by 3 per cent to 753 million Swiss francs in 1987 from 776 million in 1996. The bank said on Thursday the dividend would be set at 120 francs per bearer sharer, against the previous year's
      Reuter  -  157 words
    • 138 5 Bernama ES THE ANNUAL GROWTH of Malaysia's three monetary aggregates moderated in November with M 1 currency and private sector demand deposits recording 15.7 per cent growth against 18 per cent in October, the Bank Negara reported on Thursday. The two broader
      Bernama ES  -  138 words
  • COMMODITIES
    • 250 5 HONGKONG: GOLD yesterday closed firmer near the day's high, mainly reflecting the dollar's weakness. It ended at U*****.50/435.00 an ounce against New York's U*****.00/50 and the U*****.20/70 finish here on Thursday. On the local market, gold rose HK$lO to end at $4,066 a tael. Coins were steady in
      250 words
    • 243 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 FOB
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    • 298 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 Mor
      298 words
    • 257 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. Trading
      Reuter  -  257 words
    • 239 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 217.50
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    • 84 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 283.00
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    • 58 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 7
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    • 104 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 tonnaa
      Reuter  -  104 words
    • 470 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 was
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    • 224 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 on
      Reuter  -  224 words
    • 219 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 USDA
      Reuter  -  219 words

  • PERSPECTIVE
  • Page 6 Advertisements
    • 72 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 entire
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  • Page 6 Miscellaneous
    • 812 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 to
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  • Executive Lifestyle
    • 255 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 here
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    • 938 7  -  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 Bombay
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    • 747 7  -  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 possibly
      Pictures by AZIZ HUSSIN  -  747 words
    • Executive Lifestyle: Entertainment & the Arts
      • 567 8  -  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 whan
        567 words
      • 604 8  -  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
      • 909 8  -  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 just
        909 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 459 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 major
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      • 788 9  -  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 any
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      • 719 9  -  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.
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      • 789 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. "She
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      • 793 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:
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    • Executive Lifestyle: Sports
      • 809 10  -  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.
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      • 198 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 on
        UPI  -  198 words
      • 516 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, Alex
        AFP  -  516 words
      • 249 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 of
        UPI  -  249 words
      • 514 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 medals
        UPI  -  514 words
      • 504 10  -  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 horses
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      • 128 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 champion
        Reuter  -  128 words
      • 627 10  -  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:
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    • Executive Lifestyle: Personal Investment
      • 1340 11  -  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 they
        Source: Singapore Normura  -  1,340 words
      • 540 11  - 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 under
        540 words
      • 291 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 this
        RC  -  291 words
      • 807 11  -  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 at
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  • Page 7 Advertisements
    • 16 7 FOR A CHANCE TO WIN A ■H B1 1 AWJf. CALL 532 3577 CHASE CLASSIC VISA
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    • 219 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 in
      219 words

  • Page 8 Miscellaneous
    • 1528 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.
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  • Page 9 Miscellaneous
    • 1078 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 8.18
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  • Page 11 Advertisements
    • 11 11 Iki J l HIT m MM m m M m U.
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    • 355 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 Occupancy
      355 words

  • STOCK EXCHANGE OF SINGAPORE
    • 4112 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 prices
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    • 230 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*7
      230 words
    • 2569 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 letters
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    • 216 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 PRESS
      216 words
    • 279 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* ImW
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  • COMPANY NEWS
    • 350 13  -  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 were
      350 words
    • 334 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 for
      MBT  -  334 words
    • 416 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. Much
      MBT  -  416 words
    • 478 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
    • 233 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 develop
      233 words
    • 79 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 of
      79 words
    • 149 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 should
      149 words
    • 535 13  -  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, now
      535 words
    • 346 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 be
      MBT  -  346 words
    • 2120 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 61
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  • Page 13 Advertisements
    • 390 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 abovenamed
      390 words
    • 383 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 on
      383 words

  • WORLD MARKETS
    • 113 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 doubts
      113 words
    • 112 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 Friday
      112 words
    • 33 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. Reuter
      33 words
    • 754 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 comments
      Reuter  -  754 words
    • 665 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 at
      Reuter  -  665 words
    • 1126 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 Boraumii
      1,126 words
    • 1430 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. Turnover
      1,430 words
    • 115 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 -1000
      115 words
    • 514 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 Robert
      Reuter  -  514 words
    • 454 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 nervous
      Reuter  -  454 words
    • 158 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 519
      Reuter  -  158 words
    • 235 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 Hwa
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    • 62 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 Surigao
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  • Page 14 Advertisements
    • 191 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. AM
      191 words
    • 145 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 for
      145 words
    • 190 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 si
      190 words
    • 160 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 at
      160 words
    • 125 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 as
      125 words

  • Page 15 Advertisements
    • 580 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. And
      580 words

  • 694 16  -  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
  • 418 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
  • 374 16  -  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
  • 115 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 27
    Reuter  -  115 words
  • 121 16 Reuter TRADERS' anxieties about a glut have pushed North Sea oil prices below US$l5 a barrel, the lowest this year. Weak prices for oil sold on the free market US crude prices are also at their lowest this year threaten efforts by the Organisation
    Reuter  -  121 words
  • 103 16 AFP THE US ECONOMY began 1988 with a moderate dose of inflation, with consumer prices rising 0.3 per cent in January, the government reported yesterday. Higher food prices partially offset falling energy costs in the first month of the year. The January hike in
    AFP  -  103 words
  • 271 16 Reuter AMERICAN Treasury Secretary James Baker urged South Korea yesterday in Seoul to revalue the won against the dollar to help avert US protectionist legislation. South Korean Finance Minister Sakong II said Mr Baker told him that, because Seoul's trade surplus had grown rapidly,
    Reuter  -  271 words
  • 350 16 Reuter BRITAIN on Thursday unveiled controversial plans to privatise its electricity industry in the most ambitious move yet in Prime Minister Margaret Thatcher's sale of state-owned companies into private ownership. Energy Minister Cecil Parkinson told Parliament that the Central Electricity Generating Board (CEGB)
    Reuter  -  350 words
  • 509 16  -  By BOEY KIT YIN FINANCIALLY-troubled Singapore Animal Husbandry Enterprises Ltd (Sahe) is seeking shelter under judicial management. The Sahe board of 13 directors also wants judicial managers for its subsidiary Sahe Food Industries, which owns Sahe's biggest asset a food processing factory. Both applications were filed
    509 words
  • 93 16 Reuter COMEX GOLD futures were slightly lower yesterday in nervous morning dealings, as traders looked for opportunities to square positions ahead of the weekend. April gold delivery had a minor loss of US$O.9O at U*****.80 an ounce, standing above Thursday's low of U*****.30. Silver futures drifted
    Reuter  -  93 words
  • LATE FILE
    • 51 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
    • 34 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. AFP
      AFP  -  34 words
    • 65 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 opposition
      AFP  -  65 words
    • 48 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. Reuter
      Reuter  -  48 words
    • 48 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. Reuter
      Reuter  -  48 words
  • Page 16 Advertisements
    • 166 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 LODGE
      166 words