The Business Times, 22 December 1990

Microfilm: NL17372
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times MCI (P) 16/12/90 Weekend Edition, December 22-23 1990 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      France to Cambodia: endorse UN peace plan now
      74 1 FRANCE warned Cambodia's four warring groups yesterday to endorse a UN peace plan now before the world lost patience and gave up efforts to end the 12-year jungle war. "I must warn you that the world has changed, other priorities require and
      74 words
    • Article
      Dow higher
      46 1 NEW YORK blue chips received an initial boost from yesterday's "triple witching" expirations but quickly lost some of the gains in morning activity. The Dow, after surging 16, was up about seven points to 2,636. Losers narrowly outpaced gainers on over 62 million shares.
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    • Article
      Footsie higher
      41 1 BRITISH share prices were slightly higher in a listless preholiday market at midday yesterday. At about 1200 GMT, the Financial Times-Stock Exchange 100-share index was up 1.1 point, or 0.05 per cent, at 2,159.9. Volume was 369.1 million shares.
      41 words
    • Article
      Car premiums stable
      44 1 AFTER wide fluctuations in the past few months, the quota premiums for new vehicles are finally settling down. The premiums for January are only marginally higher than the December premiums. The highest increase is $240, in the Open category Page 2
      44 words
    • Article
      M Credit going strong
      63 1 AFTER an impressive turnaround in March this year, Malayan Credit has continued its strong performance, chalking up $6.18 million in bottomline earnings for the six months ended Sept 30, 1990. The profit-after-tax figure a massive 284 per cent jump over the same period last year is
      63 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 579.45 -1.17 Kuala Lumpur ....494.14 -3.46 Hongkong 3,079.67 +1.46 Tokyo 24,119.60 -405.34 Sydney 1,271.8 -4.8 Thursday Change New York 2,629.46 +2.73 London 2,158.8 -19.9
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    • Article
      CURRENCIES
      19 1 Exchange rates USS S$ 1.7420 Yen SSI.2847 MS SS0.6438 Money market rates Overnight 2-1/2 4-1/2 3-month 5-1/16% -3/16
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    • Article
      COMMODITIES
      37 1 London Gotd AM fix USS383.25 -US$1.20 Rubber S'pore Jan 151.50«/kg +1.00 M'sia Jan 239 OOVkg unch KL Tin Turnover 61 tonnes +24 Spot MS 14.91/kg -0.10 Crudt nalm oil Turnover 1,882 lots +980 Jan MS875/tonne +1
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  • Article, Illustration
    UIC calls off deal with Indonesian tycoon Liem
    537 1  -  Deal apparently scuttled by MCH shareholders By Amy Balan A COMPLICATED back-to-back share deal that would have raised $202 million for United Industrial Corporation and roped in Indonesia's richest tycoon Liem Sioe Liong as the second largest shareholder of the company has
    537 words
  • Article
    Citicorp approaches MAS to take up convertible stock
    413 1 UNDER PRESSURE from federal banking regulators, Citicorp has finally begun swallowing huge loan losses before passing the hat around for more capital from some of its close foreign banking collaborators. The largest American bank is reported to have approached institutions, including the
    413 words
  • Article
    PWD invites bids for underground roads study
    315 1  -  Project estimated to cost $1.5 b By Elaine Koh THE idea of building underground roads, at a cost of $1.5 billion, is growing more concrete with the Public Works Department inviting bids for a feasibility study on the 1.5-billion project. Eight international consultancy
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  • Article, Illustration
    Three EMS directors take out an injunction
    465 1  -  By William Chia THE SAGA of financiallystricken video-tape maker Electro-Magnetic (S) Ltd took an unexpected turn yesterday when three of its founding directors took out an injunction to prevent certain financial information about the company from being made public. The three directors are
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      132 1 Nikon Th« \Atortd'* FIom! Photographic System. Do you know it's Christmas? EL 1 Aircraft Schedule El 9 Commodrties 15 Cryptic Crossword EL 9 Company News 4 Financial News 5 Foreign Exchange 14 Futures ft Options 14 Home News 2 HK ft Tokyo Stocks 11 Interbank Forex Rates 14 USE 10
      132 words
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      Page 1 Advertisements Column 2
      55 1 LIFESTYLE MBS lis the season for perforating an ulcer. EL 5 Gold-diggers 9 night out. EL 7 Pm^4S^ OPINIONS There'll always be a Gulf crisis. EL 2 National pride and the Malaysia Cup. EL 2 WIN A GIANT BOTTLE of champagne in BPs Christmas Crossword Competition. Don't miss your issue
      55 words
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      Page 1 Advertisements Column 3
      189 1 Nikon Tht*brtdtßn®* Photographic Systom. LIFESTYLE Don't stop, please shop EL 6 FINANCE Guide to fixed interest rates available. EL 10 A weak US$ suits everyone. EL 11 JOBS Getting to the top by age 35. EL 8 Labour squeeze hurts Japanese economy. EL 8 The rare perfection of Patek Philippe
      189 words
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        252-5252 goes on the block
        64 2 THE COMMUNITY CHEST of Singapore is auctioning oil'a telephone number to give the 25th Anniversary Charity Kind a boost before it comes to an end this year. Ihe number 252-5252 is currently owned by Mr Lim Koon Hock, an accountant who decided to give it
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      • Article
        $25,000 for charity fund
        53 2 PRIME MINISTER Goh Chok Tong will next Saturday receive a $25,000 cheque from the Housing and Development Board Staff Union (HDBSU) on behalf of the 25th Anniversary Charity Fund Raising Committee. The HDBSU, which is celebrating its 23rd Anniversary, will present the cheque during its annual
        53 words
      • Article
        Zoo expects 500,000th tourist
        63 2 THE Singapore Zoo expects to greet its 500,000 th tourist visitor this year sometime early next week. At the end ol Wednesday, a total of 493,607 tourists had visited the zoo. A special prize will be presented to the 500,000 th tourist, and four other prizes
        63 words
    • Article
      Jurong Shipyard to add length and bulk to banana-carrier
      179 2 WHEN banana-carrier lionita sails out of Jurong Shipyard in February next year, she would be longer and heavier by a hefty 3,000 tonnes. When work is completed, the 22-year-old Ecuadorian refrigerated cargo ship will be given a new 20.5 metre midbody
      179 words
    • Article
      Car quota premiums are stabilising
      498 2  -  By Selva Kumar AFTER wide fluctuations in the past few months, the quota premiums for new vehicles are finally settling down. The premiums for January are only marginally higher than the December premiums. The highest increase is $240, in the Open category. The premium for
      498 words
    • Article
      EDB to emphasise three training areas
      208 2 THE ECONOMIC Development Board (EDB) will focus its training programmes on plastics technology, automation and precision engineering areas of the manufacturing sector which have been identified for further development. An EDB spokesman said local expertise will be nurtured in high-level plastics design since plastics
      208 words
    • Article
      EDB puts final touches to plan for leisure industry
      231 2  -  By Schutz Lee THE Economic Development Board is finalising its blueprint for the promotion of the leisure industry in Singapore. Leisure services have been added to the list of val-ue-added services which the EDB is peeking to promote. Since 1986, the
      231 words
    • Article
      Dyna-Mech comes up with notebook-sized PC
      148 2 LOCAL FIRM Dyna-Mech has produced a notebooksized personal computer, making it one of the few companies here to come up with this range which is expected to lead the next PC revolution in the *****. Dyna-Mech achieved this with Gintic, the research institute for
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      525 2 Vtttd toy No Barth Arm* Departs VwmI toy No Berth ArriyjM Depart** Kepod Wharves Memna Darvela 18/9 alongside 22.12/0300 Cora Pcess 033 (P) K29 21 12/1745 Niaga 22 SJ26 )3 alongside 22.12/2300 Gradistea 01/90 K34 alongside 2412/0600 Qouashan J7 alongside 22 12/2300 Kota Bertan 48/90 K32 alongside
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    • Article
      CONTAINER SCHEDULE
      1337 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rslts Ship Voy No Etb/Btr Period From To From Aka Bhum 448N 23/0100 1 21/1500 21/1659 21/1900 3 22/0700 22/1159 22/1400 Aka Bhum 449N 23/1100 2 21/1/00 22/0659 22/0900 3 22/0700 22/1159 22/1400 Al Mirqab 52 23/1200 2
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Malayan Credit clears $6.18m after tax
      372 3  -  Huge jump in after-tax profit due to drop in loan obligations By Lilian Ang AFTER an impressive turnaround in March this year, Malayan Credit has continued its strong performance, chalking up $6.18 million in bottomline earnings for the six months ended Sept 30, 1990.
      372 words
    • Article
      NOL to discontinue Far East-US space-sharing arrangements
      335 3  -  By Dexter Lee NATIONAL CARRIER Neptune Orient Lines (NOL) and its Tri-Partite Agreement (TPA) partners in the Far East-US trade will dissolve their space-sharing arrangements on Dec 15 next year. NOL's partners in the agreement are Nippon Liner System (NLS) and Orient Overseas
      335 words
    • Article
      Juara Perkasa may be re-quoted in Feb
      332 3 SHARES of Juara Perkasa Corporation Bhd, soon to be known as RJ Reynolds Bhd, are expected to be re-quoted on the Kuala Lumpur Stock Exchange in late February or early March. The Capital Issues Committee has approved the listing and quotation for the
      332 words
    • Article, Illustration
      Metro still grist for rumour mill
      373 3 MARKET TALK EVEN in a dull market, the rumour mill was vigorously at work on Metro Holdings, whose counter was suspended yesterday after the shares shot up 51 cents to $5.35 on Thursday. On the grey market, they were said to be trading at
      373 words
    • Article
      HGC buys four more lots of land to build apartments
      269 3  -  By Sangeeta Mulchand HOTEL Grand Central (HGC) has made its second land purchase in Malaysia in one month. In a statement released yesterday, HGC said that it has agreed to pay M 51.53 million for four lots of commercial land
      269 words
    • Article
      AMDB buys 30pc stake in Yarra Films (S)
      233 3 ARAB-MALAYSIAN Development Berhad (AMDB) has acquired a 30 per cent stake in Yarra Films (Singapore) for $14 million. The acquisition was made through AMDB's whollyowned subsidiary Mekar Angkasa, which entered into a sale and purchase agreement with Lomas Nominees. Yarra Films, a
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    • COMPANY BRIEFS
      • Article
        Aberdeen cuts stake in Harimau to 1pc
        74 3 ABERDEEN Fund Managers Ltd has sold its 7.3 million shares in Harimau Investments, thus reducing its stake in the company from 15.58 per cent to only one per cent. The price consideration and the date of the sale were not given in Hanmau's
        74 words
      • Article
        YHS to use loans for HK deal
        54 3 LOCAL food and beverage manufacturer Yeo Hiap Seng (YHS) said the purchase of the remaining 49 per cent stake in Yeo Hiap Seng (Hongkong) would be financed through external borrowings. The purchase, costing HK$lOO million, would make the Hongkong company a wholly-owned subsidiary
        54 words
      • Article
        Petaling Garden pays M$2.47m
        70 3 PETALING GARDEN Berhad said it acquired the 440,000 ordinary shares of Msl each in Lanjut Golf Resorts Sdn Bhd, representing 22 per cent of the paid-up capital of Lanjut Golf, for a total consideration of M 52.47 million. Replying to a query from the KLSE, it
        70 words
      • Article
        Actacorp to complete talks soon
        65 3 ACTACORP HOLDINGS, which made its debut on the second board of the K.LSE yesterday, will finalise negotiations to buy two local engineering and construction-related companies in two weeks' time, its managing director, Ong Say Yuan, said yesterday. He told newsmen that Actacorp might be taking
        65 words
      • Article
        ASM foresees expansion
        87 3 AMALGAMATED Steel Mills (ASM), a member of the Lion group, expects its steel business to expand further in the next few years in view of the strong growth in the construction and manufacturing industries both locally and abroad, its chairman, General (R) Tan Sri Zain Hashim, said
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  • Page 3 Advertisements
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      227 3 EXCUSES YOU CANT USE THIS CHRISTMAS. #2 "SORRY DEAR, MY SCHEDULE WAS SO BUSY, I DIDN'T HAVE TIME." No excuses now that Scotts Weitnauer has come to Changi Terminal 2. Choose from our extensive range of more than 80 top labels for remarkable value. Gift wrapped and delivered anywhere in
      227 words
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Tokyo eases rules on JSE listings
        89 4 THE JAPANESE Finance Ministry has made it easier tor local securities firms to list shares on Japan's stock exchanges and has decided to allow brokerage listings on the over-the-counter (OTC) market, a ministry official said. Under new ministry guidelines, brokerage minimum requirements for numbers
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      • Article
        NZ suspends failed private TV
        109 4 NEW ZEALAND'S first private television station, TV3 Network Ltd, which is in receivership, has been suspended from trading on the Stock Exchange for failure to comply with its listing requirements, the NZSE said. TV3 is 7.54 per cent owned by NBC International Ltd, a unit
        109 words
      • Article
        Samsung signs Czech deal
        88 4 SAMSUNG Electronics Co Ltd has signed a US$l5O million contract to export production facilities to make compressors with Czechoslovakia's Kalex Narodny Podnik Co, Samsung officials said. Samsung will export the production facilities from next February to help Kalex Narodny build a plant in the Slovakia Republic
        88 words
      • Article
        Union Carbide to be revamped
        99 4 UNION Carbide Canada Ltd said it will transfer ownership of its chemical and plastics business for US$l4O million to a wholly-owned subsidiary that will be acquired by majority shareholder Union Carbide Chemicals and Plastics Co Inc UK of Danbury, Connecticut. The company will also reorganise
        99 words
      • Article
        China Steel drops mill project
        82 4 CHINA Steel Corp of Taiwan and the British Columbia government have dropped plans to build a multi-billion-dol-lar steel mill in the west coast province, the government said. The provincial government's economic development ministry said a joint study had found that building such a plant would
        82 words
      • Article
        PAL fires 10 senior executives
        45 4 PHILIPPINE Airlines fired 10 senior executives and suspended three in connection with gross irregularities in the government-owned company, the Pal announced yesterday. A Pal statement said three other executives were reprimanded and five were exonerated. Another official had previously resigned.
        45 words
    • Article
      Lock icon Adsteam says net assets at June 30 stood at A$1.69b
      500 4 Reuter ADELAIDE STEAMSHIP Co Ltd said the Adsteam group had total assets of A 510.9 billion and total liabilities of A 59.2 billion, leaving net assets of A 51.69 billion at June 30 this year. Adsteam said it had prepared
      Reuter  -  500 words
    • Article
      Lock icon EC busts two cartels, poised to take on more
      500 4 FT THE European Commission is congratulating itself on busting what it sees as one of the European Community's tightest, longest-standing and most pernicious cartels. It has fearlessly taken on two of Europe's industrial giants, ICI of the UK and Solvay of
      FT  -  500 words
    • Article, Illustration
      Lock icon Hongkong satellite TV scheme sets end 1991 deadline
      231 4 AFP HUTCHVISION said yesterday that its HKS4OO million satellite television scheme should be broadcasting by the end of 1991 on two or three channels. The channels will carry mainly music and sports for Hongkong, Taiwan and Thailand in the first phase of
      AFP  -  231 words
    • Article
      Lock icon Japanese builders fear being barred from US projects
      353 4 Reuter CONSTRUCTION industry leaders in Japan fear complaints by a US company that it was unfairly treated in a Japanese tender could lead to them being barred from US building projects. "It's not good that (Washington is) listening to one complaint and
      Reuter  -  353 words
    • Article
      Lock icon Japanese motorcar makers optimistic
      349 4 NYT DESPITE growing fears of an economic slowdown, Japanese motorcar makers are predicting an increase in domestic car sales next year. Leading the optimistic forecasts for 1991, Toyota Motor Corp, the largest Japanese carmaker, expects to sell 2.6 million cars, up 4 per cent from 1990.
      NYT  -  349 words
    • Article, Illustration
      Lock icon Stock market fever sweeps across Shanghai
      663 4 Two-day-long queues, black marketeers swamp exchanges Reuter BULLS and bears may be the symbols of joy and sorrow on Western stock markets but in Shanghai, where trading has resumed after a break of more than 40 years, beware of the "yellow cows". With the
      Reuter  -  663 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      518 4 YOU CAN T USE THIS CHRISTMAS. »3 ***5 "BUT HOW COULD I MANAGE CHRISTMAS PRESENTS WITH ALL THIS LUGGAGE?" No excuses now that Scotts Weitnauer gift wrap and deliver anywhere in Singapore. Simply choose from our extensive range of fashion items and accessories for remarkable value while waiting for your
      518 words
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  • FINANCIAL NEWS
    • Article
      Lock icon First National Bank cuts prime rate
      775 5 Large US banks slow to respond to Fed pressure to lower rates NYT FIRST National Bank of Chicago cut its prime lending rate to 9.5 per cent on Thursday, becoming the largest bank to lower the closely watched rate since the Federal Reserve began
      NYT  -  775 words
    • Article
      Lock icon Bank of Commerce sees problems in maintaining returns to shareholders
      252 5 Bernama BANK of Commerce Berhad will face difficulties in maintaining the standard of returns to its shareholders in the near term in view of the anticipated recession, a rise in interest rates and as Malaysian base lending rates remain at
      Bernama  -  252 words
    • SMALL CHANGE
      • Article
        Deutsche Bank unit to lay off staff in US
        102 5 A NEW YORK-BASED unit of Deutsche Bank AG, named a primarv dealer in US government securities a week ago, is laying "off some staff, said Christian Strenger, chairman of Deutsche Bank Government Securities Inc. Mr Strenger declined to say how many
        102 words
      • Article
        Tokyo bank to co-lead UK loan
        107 5 THE Bank of Tokyo will act as a co-lead manager in a svndicated loan to finance part of a power plant in the first major building project by Britain's electricity industry since it was privatised. The £240 million loan to East Midland Electricity Co
        107 words
      • Article
        BNP, Dresdner set up venture
        94 5 BANQUE Nationale de Paris (BNP) and Dresdner Bank AG have signed an agreement to set up a joint commercial bank with the Hungarian Commercial and Credit Bank. The new bank, BNP-KH-Dresdner Bank, will have an initial capital of one billion forints (US$l6.5 million), the official
        94 words
    • Article, Illustration
      Lock icon NYSE chief expects slump to continue
      464 5 AP THE DEPARTING leader of the New York Stock Exchange said he expects the downturn in US financial markets to last another six to 18 months. But John J Phelan Jr, who steps down on Dec 31 after six years as NYSE chairman, called
      AP  -  464 words
    • Article
      Lock icon Days of the forex 'bucket shops' in Hongkong appear numbered
      482 5 Reuter THE DAYS when just about anybody in Hongkong could open a foreign exchange brokerage and operate with virtually no government interference may be numbered. Growing concern over practices among the territory's foreign exchange investment firms, or brokers, has spurred
      Reuter  -  482 words
    • Article
      Lock icon Rate cut shows Greenspan can act decisively
      514 5 Reuter CONSIDERED by critics to be overly cautious and by champions to be prudent, this week's decision by Federal Reserve Board Chairman Alan Greenspan to cut interest rates shows he can act decisively. The move on Tuesday by the US central bank to
      Reuter  -  514 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      79 5 r EXCUSES YOU CAN'T USE THIS CHRISTMAS. #4 "CHRISTMAS PRESENTS? WHAT ON EARTH COULD I BUY AT THE AIRPORT?" No excuses now that Scotts Weitnauer has come to Changi Terminal 2. Choose from our extensive range of top| fashion items and accessories for remarkable value. Gift wrapped and delivered anywhere
      79 words
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      Page 5 Advertisements Column 2
      373 5 <SS> 0 JS ANNIVERSARY fcw J fjf* Ato 11th Shop open at II No. 1357 SERANGOON ROAD (OPR FIRESTATION) The 2nd Series of Hua Tuo's Ancient Recipes I To celebrate our second anniversary, the CORDYCEP SNOW-FROG Chinese Hua Tuo Guan is launching a ucdrai rnni imp TFA double lucky draw
      373 words
  • Page 5 Miscellaneous
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  • THE REGION
    • Article
      Thai central bank to have more autonomy: minister
      291 6 THAILAND's new Finance Minister Banharn Silpaarcha, in his first policy statement, pledged to give the central bank full independence on monetary policy management, the Bangkok Post reported on Thursday. He also promised to build up his own image through prudent monetary and
      291 words
    • Article
      Few takers for N Central's stake
      307 6 AMERICAN oil company North Central International Inc's offer of a 10 per cent stake in its oil-bearing concession in northern Thailand has received a cold response from Thai investors, the Bangkok Post reports. The paper quoted official sources as saying that by last Friday's
      307 words
    • Article
      Lock icon Thais violating copyright: US official
      165 6 Reuter A SENIOR United States official said there was massive evidence that Thai companies had violated American copyright laws and that authorities there had failed to enforce their own anti-piracy laws. The remarks by Deputy US Trade Representative Julius Katz indicated that the United States
      Reuter  -  165 words
    • Article
      Lock icon Permits for new hotels in Bali frozen
      158 6 AFP INDONESIAN authorities will suspend issuing new hotel building permits for the tourist island of Bali next year to avoid a possible oversupply of hotel rooms, the Bisnis Indonesia daily said yesterday. Bisnis quoted Post, Telecommunication and Tourism Minister Susilo Sudarman as saying
      AFP  -  158 words
    • Article
      Lock icon Myanmar's leading pro-democracy party avoids ban
      323 6 AFP MYANMAR's National League for Democracy (NLD), the country's leading pro-democracy party, is under increasing pressure following the ruling military junta's decision to outlaw the Party for National Democracy (PND), Yangon-based diplomats reported yesterday. They said the move against the PND on Thursday has
      AFP  -  323 words
    • Article
      Lock icon Pharmaceutical firms optimistic about M'sia
      199 6 Bernama MALAYSIA has been rated as "one of the brighter future prospects for returns in investment*', according to a survey conducted by executive search firm Egon Zehnder International. The survey polled the chief executive officers in 129 pharmaceutical firms in Malaysia, Singapore, Indonesia, Thailand, South
      Bernama  -  199 words
    • NOTE BOOK
      • Article
        Aquino appoints new chief of staff
        92 6 PRESIDENT Corazon Aquino yesterday named Marine Major General Rodolfo Biazon as the new chief of staff of the Philippine armed forces. Major General Biazon, the current vice-chief of staff, is to replace General Renato de Villa, who retires next month. A bemedalled veteran of
        92 words
      • Article
        Manila passes immigration bill
        109 6 THE Philippine House of Representatives on Thursday approved a bill that would allow an estimated 250,000 foreigners living illegally in the country to become legal residents for 200,000 pesos (U557,140). About half the illegal residents are Chinese. The Philippines, hunting for funds to ease a budget
        109 words
      • Article
        Marcos properties sold
        102 6 THE Philippines Government will get nearly 50 per cent of the proceeds from the sale of four New York properties owned by former president Ferdinand Marcos, and his wife, Imelda. Settlement papers filed in US District Court made public on Thursday outline a distribution plan for the
        102 words
      • Article
        Hanoi reaffirms Spratly stand
        83 6 VIETNAM has reaffirmed its sovereignty over the South China Sea Spratly and Paracel islands which neighbouring China also claims, the official press reported yesterday. "We reaffirm Vietnamese sovereignty over the Spratly and Paracels archipelagos," the Vietnam news agency quoted a Foreign Ministry official as saying. Hanoi
        83 words
      • Article
        Oil found in Sumatra
        59 6 CALTEX PACIFIC Indonesia of the United States has discovered oil in Sumatra, state oil firm Pertamina anI nounced on Wednesday. Tests on the exploration well Ti-tian-1 in Central Sumatra flowed at 359 barrels of oil a day, Pertamina said in a statement, adding that the zone
        59 words
      • Article
        Amnesty deadline for HK triads
        74 6 THE Hongkong government has issued an amnesty deadline to triad gang members in the colony, who are estimated to number more than 100,000. The government plans to scrap by the end of March its Triad Renunciation Tribunal, set up to let gangsters relinquish their triad
        74 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      379 6 Christmas at LE MERIDIEN. C'EST MAGNIFIQUE! jMa»- To set vour Christmas aglow this Yuletide season, 4 we're serving up glorious spreads of sumptuous food to satisfy any festive appetite. And in the atrium lobbv, you'll discover our Christmas Loghouse, filled with a tempting array of traditional Yuletide favourites to make
      379 words
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  • THE WORLD
    • Article
      Lock icon Did Shev jump or is it all a Gorbachev ploy?
      372 7 AFP SOVIET Foreign Minister Eduard Shevardnadze said on Thursday he was resigning as a protest against rising dictatorship, but observers were left wondering whether he jumped or whether his departure was orchestrated and if so by whom. His sudden departure
      AFP  -  372 words
    • Article
      Lock icon Eastern Europe in for harder times
      137 7 UPI THE Soviet Union and its former satellites in Eastern Europe will see a further deterioration of their troubled economies next year because of higher oil prices and interest rates, the OECD said Thursday. The Paris-based agency said in its bi-annual report on the
      UPI  -  137 words
    • Article
      Lock icon World economy needs a year to absorb Gulf shock: OECD
      258 7 UPI THE Gulf crisis and the accompanying oil price increases have led to a slowdown of the world economy, but its effects will be absorbed by the end of next year if governments fight inflation and reduce their budget deficits,
      UPI  -  258 words
    • Article
      Lock icon US urges trade talk compromise
      152 7 AP UNITED STATES officials said on Thursday there is no point resuming global trade talks until West European countries show readiness for compromise on cutting farm subsidies. Arthur Dunkel, the director general of Gatt, the General Agreement on Tariffs and Trade, got that message in
      AP  -  152 words
    • Article, Illustration
      Lock icon Falling rates give hope to US economy
      350 7 Reuter NEW economic data and comments by Treasury Secretary Nicholas Brady on Thursday supported the growing belief that the US economy is in recession but falling interest rates gave hope the downturn would be brief. Mr Brady acknowledged the economy was in a
      Reuter  -  350 words
    • WORLD WATCH
      • Article
        Walesa asks caretaker govt to stay till elections
        82 7 POLAND'S President-elect Lech Walesa, admitting failure in his search for a prime minister, on Thursday asked the caretaker government of Tadeusz Mazowiecki to stay on until parliamentary elections next year. "The president-elect proposes that after necessary corrections the old government stays until
        82 words
      • Article
        EC to increase S American aid
        79 7 THE EUROPEAN COMMUNITY on Thursday agreed to raise aid, investments and technological help to 11 Latin American nations, which pledged in turn to strengthen their democracies. The agreement, signed by foreign ministers from both sides, also seeks to improve cooperation in trade, environmental matters,
        79 words
      • Article
        Govts urged to ease 'air jams'
        118 7 THE INTERNATIONAL air transport industry has appealed to governments in the Asia-Pacific area to take urgent measures against air congestion. In a report issued on Thursday, organisations representing airlines and airport authorities warned that, without an increase in capacity, trade and tourism in the
        118 words
      • Article
        Japan's overseas investment up
        117 7 JAPAN'S direct investment overseas in fiscal 1989, ending in March this year, soared 43.6 per cent from the preceding fiscal year to U5567.54 billion, a semi-governmental body said on Thursday. It was the third year in a row that Japan's direct overseas investment had risen 40
        117 words
      • Article
        Plan to sack Palestinians
        109 7 ISRAELI ECONOMICS MINISTER David Magen said on Thursday he had won wide government backing for a plan to dismiss nearly two-thirds of the 108,000 Palestinians from the occupied lands who work in Israel. The plan is designed to free jobs for Soviet Jewish immigrants and cut
        109 words
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      Page 7 Advertisements Column 1
      559 7 1 7Tj3 Singapore Telecom is pleased to pass back savings resulting TELEPHONE INSTALLATION j Weight Step New Rates from economies of scale, productivity and technological Customers will only pay for services undertaken by Singapore N#t Over 1.1*91 improvements and currency changes to our customers through Telecom. The new charges will
      559 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Market drifts lower in featureless trading
      4530 8  -  By William Chia THE local bourse closed lower in quiet and featureless trading yesterday as the lack of direction on Wall Street overnight and a weaker close in Tokyo dampened sentiment. Cautious investors also sold off their holdings ahead of the long weekend. The
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3998 9 Main Board B Sembawang 488 +16 +3.4% L&M 50* 198 +14 +7.6% Cold Store 50* 246 +13 +5.6% .Asia Pacific 850 +10 +1.2% Spore BusF 500 540 +10 f 19% Shangn-La 505 9 +1.8% Wearnes 346 8 2.4% SPC Foreign 251 +7 +2.9% SSE Foreign
    3,998 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks finish weaker in dull trading
      3685 10 Bernama SHARE PRICES on the Kuala Lumpur stock market closcd lower yesterday in dull, selective trading as sentiment was affected by weaker overseas bourses. Some counters, however, managed to finish above earlier lows on late bargain-hunting. The KLSE Composite Index fell 3.46 points to
      Bernama  -  3,685 words
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      151 10 SINGAPORE BUSINESS WE'LL DELIVER TO YOUR HOME OR OFFICE AT NO EXTRA COST! ♦Fast Malaysia 5592.00 (Registered second class air mail) |BB^^,-. *Overseas 5585.00 (Surface mail) _i SUBSCRIPTION/RENEWAL FORM 1 J Address: Charge my American ExprcsVVisd/Maslcf Card/Uinon accounl i PLEASE ALLOW 3TO 4 WEEKS EOR YOUR SUBSCRIPTION ORDER cikirAPnot HI
      151 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks take a tumble on Shev's resignation
      2256 11 Reuter TOKYO STOCKS closed down in thin trade yesterday, but above their lows after a number of positive rumours floated through the market. These partly offset the depressing effect of Thursday's news that Soviet Foreign Minister Eduard Shevardnadze had resigned, brokers said. "People
      Reuter  -  2,256 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Shares finish slightly higher in listless session
      1923 11 Reuter SHARE prices ended slightly higher after rebounding from a morning low triggered by news of Soviet Foreign Minister Eduard Shevardnadze's resignation. "When prices dropped to 3050, some traders saw that as a good support level," said John Mulcahy, research director at Peregrine
      Reuter  -  1,923 words
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  • REGIONAL STOCK MARKETS
    • Aussie stocks close lower in thin trade
      • Article
        SYDNEY
        945 12 THE AUSTRALIAN sharemarket closed slightly lower yesterday, depressed by the sudden resignation of Soviet Foreign Minister Eduard Shevardnadze on Thursday. Brokers said trade was thin ahead of the Christmas break. The All Ordinaries index fell 4.8 points to 1271.8. This was the lowest close since February 29, 1988, when
        945 words
      • Article
        Untitled
        81 12 Close Previous Dec 21 SYDNEY All Ordinaries Index 1,271.8 1,276.6 -4.8 All Industrials Index 1.936.4 1.943.8 -7.4 All Resources Index 759.7 762.4 -2.7 Turnover (million) 77.74 117.24 -39.5 BANGKOK SET Index 611.63 616.68 -5.05 Turnover (million) NA 1,080.0 JAKARTA Composite Index 400.44 398.24 2.20 MANILA Composite Index 664.10 667.59 -3.49
        81 words
      • Article
        BANGKOK
        606 12 THAI stocks closed lower in dull trading yesterday ahead of the Christmas holiday, brokers said. The SET Index fell 5.05 points to close at 611.63 and turnover was less than one billion baht. "It was dropping from the start," said one broker. "Peo- pie are already on holiday. They
        606 words
      • Article
        TAIPEI
        368 12 TAIWAN stocks finished slightly higher yesterday after an unidentified big player stepped into the market, but dealers said buying was not strong enough to sustain a real rally. The weighted index gained 50.56 points or 1.3 per cent to finish at 3,979.46, against Thursday's 3,928.90 close. Turnover was NT532.5
        368 words
      • Article
        SEOUL
        868 12 SEOUL stocks topped 700 on the composite stock index on active buying support from institutions and the stock stabilisation fund, brokers said. The index wavered below Thursday's close in early buying on news Soviet foreign minister Eduard Shevardnadze had resigned, but massive support across the board pulled it up
        868 words
      • Article
        NEW ZEALAND
        333 12 THE New Zealand sharemarkct saw a small rally in the last hour of trade as the Christmas spirit infused the share market, brokers said. "People like to end the year on a positive note," said John White of Cavill White Securities, adding that volume had been quite healthy
        333 words
      • Article
        Untitled
        356 12 In local currency In S$ In US$ day year day year S day year DEC 20 Index change change change change change change World 362.0 -0.8 -22.1 -1.2 -25.1 -1.6 -17.9 tEAFE 478.0 -1.4 -29.8 -1.5 -29.8 -1.9 -23.0 Europe 366.8 -1.8 -18.6 -2.2 -14.2 -2.6 -6.0 Pacific 802.6 -I.I
        356 words
      • Article
        MANILA
        490 12 PHILIPPINE shares closed lower yesterday as profit-taking followed two days of gains in an oil-led market, brokers said. The Manila Stock Exchange composite index closed at 664.10 points, down 3.49 from Thursday. Combined turnover on Manila's two bourses thinned to 2.4 billion shares worth 95.6 million pesos from Thursday's
        490 words
      • Article
        Lock icon JAKARTA
        568 12 Reuter PRICES on the Jakarta stock exchange rose slightly in active trading yesterday ahead of the Christmas holiday, bringing the index 2.20 points up to 400.44. Total volume was 5.18 million shares, down from Thursday's 7.45 million. Cement shares dominated the big board, with Semen Cibinong leading the market
        Reuter  -  568 words
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  • WORLD STOCK MARKETS
    • Dow shakes off early jitters for mild gain
      • Article, Illustration
        NEW YORK
        1129 13 AFTER dropping nearly 30 points in early trading on news of Soviet foreign minister Eduard Shevardnadze's resignation, US blue chips ended Thursday with mild gains, supported by some year-end commitments and expirationsrelated activity. Gains in some technology and financial service stocks also helped nudge prices off their lows.
        1,129 words
      • Article
        AMSTERDAM
        262 13 DUTCH shares were lower by yesterday's midsession, with virtually no re- tail or professional trade, dealers said. Many brokers have closed their books for the year. The CBS general tendency index was 0.3 lower at 94.1, with only one featured share, transport and technology firm Internatio-Mueller. It was 7.50
        262 words
      • Article
        Untitled
        88 13 IXv 20 Clox Previous 47NEW YORK Dow Jones 2.629.46 2,626.73 2.73 NYSE Financial ***** 123 2 -0 48 S P 500 330 12 330 20 -008 Turnover (million) 175 180.4 -5.4 LONDON Financial Times 30 1.687.2 1.707.1 -19.9 FTSE 100 2.158 8 2.178.7 -19.9 Turnover (million) 590 2 509.3 -809
        88 words
      • Article, Illustration
        LONDON
        771 13 UK SHARES remained mixed at yesterday's midsession as UK Nov trade figures failed to provide a lead for the market. The current account deficit came in at £971 million compared to market forecasts of £900 million and a revised £1.06 billion shortfall in October. "A few people had been
        771 words
      • Article
        STOCKHOLM
        100 13 THE Stockholm bourse general index opened weaker yesterday in low volume on the last trading day before the Christmas holiday, with investors ignoring overseas gains, dealers said. "Most investors seem to have closed their books and trading is very thin," one dealer said. By mid-morning, the general index had
        100 words
      • Article
        BRUSSELS
        155 13 BELGIAN shares opened mixed in extremely light trade yesterday, with advances and declines evenly matched. "Yesterday's lurch over Shevardnadze's resignation has given way to the lethargy we've been seeing for a long while now," one broker commented. He was not expecting corporate results or near-term economic developments which might
        155 words
      • Article
        TORONTO
        321 13 TORONTO stocks ended the 1990 fiscal year yesterday flat as investors flocked to the sidelines ahead of yesterday's Triple-Witching, dealers said. "Everybody's waiting for 1990 to end and to get on with 1991," said analyst Ira Katzin of Richardson Greenshields of Canada Ltd. The composite index firmed 1.7 to
        321 words
      • Article
        PARIS
        251 13 FRENCH share prices scored solid gains at midsession as the market bounced back from yesterday's decline, with traders squaring positions ahead of the Christmas holiday, dealers said. The CAC-40 index, which touched a low of 1.539.30, was up 17.08 at 1,569.80 at 1232 GMT. "The market took a hit
        251 words
      • Article
        MILAN
        172 13 ITALIAN stocks fell further at the opening in thin trading volume as operators hesitated to take large positions ahead of the Christmas holidays with a peaceful solution to the Gulf crisis still in doubt, brokers said. "The Gulf situation is even more confused now, nobody wants to take the
        172 words
      • Article
        FRANKFURT
        195 13 PRICES of German shares started narrowly mixed in thin nervous trade as political uncertainty in the Soviet Union and continued worries about the Gulf crisis discouraged investors from entering the market. There could be some low volume buying today after prices plunged 3.3 per cent on Thursday, but most
        195 words
      • Article
        Lock icon ZURICH
        284 13 Reuter SWISS share opened slightly easier yesterday. Dealers said volume was low ahead of the Christmas holidays. The SMI index of leading shares fell 3.4 points to 1,367.8 after about 10 minutes of trading. High interest rates still weighed on the market. Three-month Eurofranc rates were unchanged at 8-7/8
        Reuter  -  284 words
      • Article
        Untitled
        306 13 Johannesburg Dec 20 Rand INDUSTRIALS A Alpha AEC 1 1300 unch Abercom 40 +5 Amaprop 670 unch AMIC 8000 100 Barlows 3700 -25 Basil Strk BAZ Bly voor 950 50 C G Smith 7900 unch C'nagalo 1850 unch Curfin 380 +20 Edgars 4000 unch Fed Volk First Intl 1275 -10
        306 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Political instability in USSR, US$ strength hit D-mark heavily
      1212 14 REPORTS THE US DOLLAR started sharply higher in Europe yesterday after soaring to highs above 1.51 marks in US trading, following Thursday's resignation of Soviet foreign minister Eduard Shevardnadze. The US dollar eased from its New York highs following some large
      1,212 words
    • Article
      Lock icon France is not delaying monetary union: minister
      296 14 FT PIERRE Beregovoy, the French Finance Minister, has rejected the European Commission's complaints that France, along with Germany, Spain and the Netherlands, was seeking to hold up European Monetary Union. France remained committed to the EMU objective of a single currency with an
      FT  -  296 words
    • Article
      Lock icon Paris cool to currency realignment
      202 14 AFP A REALIGNMENT of currency rates within the European Monetary System is not necessary under current circumstances, French Finance Minister Pierre Beregovoy said in Paris on Thursday. But if there were an upgrading of the rates of the guilder, Belgian franc and German mark, the
      AFP  -  202 words
    • Article
      FINANCIAL FUTURES
      1143 14 SIMEX EURODOLLAR 1 Open High Low Sett Est Vol Op/lnt Vol Mar 91 92.76 92.76 92.72 92.73 9450 ***** 5595 Jun 91 92.81 92.82 92.78 92.79 1200 8377 1550 Sep 91 92.65 92.67 92.65 92.65 130 3222 828 Dec 91 92.36 92.37 92.35 92.35 60 3473 272 Mar
      1,143 words
    • Article
      INTERBANK FOREX RATES
      375 14 Cross rates 0*21 USS SS MS Dm Yen SFr AS NZS USS 1-7430 2.7070 1.5135 135.90 0.5269 1.2975 1.2987 1.7065 SS 0.5737 1.5531 0.8683 0.7797 0.3023 0.7444 0.7451 0.9791 MS 0.3694 64.39 0.5591 0.5020 0.1946 0.4793 0.4798 0.6304 Dm 0.6607 1.1516 1.7886 89.79 0.3481 0.8573 0.858t 1.1275
      375 words
    • Article
      MONEY MARKET
      567 14 Interbank rates S$ Bid Offer Overnight 2 1/2 2 3/4 1-month 4 7/8 5 2-month 5 5 1/8 3-month 5 1/16 5 3/16 Overnight mode 4-1/4 LSS Bid Offer 7 days II 7/8 12 1 month 8 3/4 8 13/16 2 months 8 1/8 8 1/4 3 months
      567 words
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  • COMMODITIES
    • Article
      Lock icon Jakarta to replace crude exports with products
      405 15 Reuter INDONESIAN President Suharto said Indonesia plans to replace crude exports with refined products. "Gradually our oil export system will be turned into exports of processed materials. When our economy allows it we must stop exporting crude oil and reserve it for domestic
      Reuter  -  405 words
    • Article
      Lock icon KLCE plans to raise number of locals
      234 15 Bernama THE Kuala Lumpur Commodities Exchange said it planned to increase the number of its locals to 100 next year from the present 34. To achieve this, it would introduce a special "locals admission programme" for would-be locals beginning on Jan 23, 1991
      Bernama  -  234 words
    • Article
      Low consumption, stock surplus send tin lower
      856 15 REPORTS THE PRICE of tin fell 10 sen to M$ 14.91 per kg on the Kuala Lumpur Tin Market yesterday on a combination of adverse factors, including stock accumulation and low consumption. It was the first time the price had fallen below the
      856 words
  • Article
    PRICES
    1386 15 Rubber Deczi MS («>» lit Ht«) S cents/kg j Noon Close Int I RSS Prompt 152.50/153 50N 152.25/153.25 Int I RSS Jan 91 151.75/152.75 151.50/152.50N Int 1 RSS Feb 152.75/153.25 I52 50/I53.00N Int 2 RSS OP 149.00/151.00N 149 OO/l 5I.00N Int 3 RSS OP 144.00/146.00N 144.00/146.00N Int 4 RSS
    1,386 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      9 15 Executive Jobs every Saturday in Business rI i Times
      9 words
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      Page 15 Advertisements Column 2
      18 15 NOTICES EFFECTIVE RECRUITMENT ADVERTISING. ITS ONLY A CALL AWAY... c Ask For Jennifer *****37 Nooranl *****02 Veronica *****42
      18 words
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      Page 15 Advertisements Column 3
      259 15 IN THE MATTER OF THK COMPANIES ACT, CAP. S» AND LA FAYKTTK PTE LTD (In Members' Voluntary Liquidation) Notice Is hereby given that the creditors of the abovenamed company, which Is being wound up voluntarily, are required on or before 22nd January 1991 to send In their names and addresses
      259 words
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  • Article
    M'sia showing fastest growth: report
    301 16  -  Real GDP growth predicted to be 10.3 pc for 1990 By By S N Vasuki MALAYSIA is Asia's fastest growing economy with forecasts for real GDP growth in 1990 placed at 10.3 per cent, according to the latest quarterly risk report on the country published
    301 words
  • Article
    Lock icon Manila T-Bill rates rise to record high
    301 16 Reuter PHILIPPINE Treasury bill rates rose to record levels as the central bank imposed a credit squeeze in an attempt to control inflation. President Corazon Aquino said this week inflation in the Philippines, hard hit by the dramatic rise in world oil prices,
    Reuter  -  301 words
  • Article
    Lock icon Japan to write tougher anti-monopoly laws
    455 16 Sharply higher surcharges to be imposed Reuter JAPAN PLANS to sharply raise surcharges imposed on illegal cartels, partly in response to a US request for tougher penalties against violations of anti-monopoly laws, according to officials of Japan's Fair Trade Commission (FTC). Surcharges, as against
    Reuter  -  455 words
  • Article
    Lock icon Bush prepared mentally for massive attack on Iraq
    300 16 The Gulf Crisis Agencies PRESIDENT George Bush has "crossed the Rubicon" and is prepared mentally to declare war if necessary to force an Iraqi retreat from Kuwait, but no decision to attack has been made, the White House said. In a meeting
    Agencies  -  300 words
  • Article, Illustration
    Lock icon Puffs of capitalism on a Red winter day
    37 16 An enterprising young Chinese woman enduring a cold winter wind as she sells cigarettes on a street corner in the western Chinese city of Yinchuan. AP Picture AP Picture
    AP Picture  -  37 words
  • Article
    Lock icon M'sia not raising steel price
    173 16 Bernama THE Malaysian government has no intention to raise the price of steel at the moment, the Minister of Domestic Trade and Consumers Affairs, Datuk Dr Sulaiman Daud, said. Reported shortages of steel in various parts of Malaysia could have arisen as a result of
    Bernama  -  173 words
  • Article
    Lock icon Liberals rally to Shev's call to resist hardliners
    465 16 Agencies SOVIET DEMOCRATS, under attack from hardliners, sought yesterday to rally round Eduard Shevardnadze's appeal to halt what he called a dictatorship as a top aide of Mikhail Gorbachev said he believed the Foreign Minister would continue to serve in the Soviet
    Agencies  -  465 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      5 16 SArchl) (ienuine l eather Collection
      5 words
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      Page 16 Advertisements Column 2
      160 16 SA^chi®) (ieiiniiie leather Collection BT SURVEYS Looking Wider, Thinking Deeper Some sutyects are of such interest to our readers that they demand more space and more research than can be given In our dally reporting. As part of BT's overall service we have always recognised this and taken the necessary
      160 words
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  • Executive Lifestyle
    • STRAWS IN THE WIND
      • Article
        Image problem
        42 17 CHILDREN through the ages have been fascinated with Santa Claus. But one little girl begged her family not to invite Santa to the house. "Must we invite him?" she asked. Does Santa have an image problem with the new generation?
        42 words
      • Article
        Prickly question
        42 17 CHRISTMAS trees have certainly come a long way. Over at Tangs, they've got Christmas cacti, the needled wonders brilliantly decorated and lighted up. Some shoppers wondered how staffers managed to put up the lights without getting hurt by the needles.
        42 words
      • Article
        Outfoxed
        42 17 WHILE scouring the shops for traditional Christmas cards, one exasperated colleague approached the sales assistant for help. Finally, she managed to find one: a family of little foxes in an animal re-enactment of the birth of Christ. So much for tradition.
        42 words
      • Article
        Card sharp
        59 17 PEOPLE are going to great lengths to make their cards stand out. BT staffers have even received cards with stars for the recipient to cut out. How about one with a pop-out Christmas cake. Do you have a straw to share with us? Send your contributions to: Lifestyle
        59 words
    • Article, Illustration
      Do you know it's Christmas?
      847 17 The crowds at Orchard Road bear witness to the shopping frenzy that occurs every year at this time. But even as we prepare to nave a good time, we might pause to remember what Christmas commemorates. M EN, it is said, are not born believers.
      847 words
    • OPINIONS
      • Article
        Have we lost our perspective of the Malaysia Cup?
        731 18  -  David Gabriel argues that our national pride did not take a beating when Singapore lost to Kedah last week David Gabriel The writer contributes occasionally to BT SO our team lost in the Malaysia Cup final. It's not the end of
        731 words
      • Article
        Transit Link Farecards may be topped up
        206 18  -  LETTERS TO THE EDITOR Ang Lay Tee (Miss) Public Relations Officer Singapore MRT Ltd WE REFER to the letter "Stored-value tickets at $50?" (BT, Dec 8-9). The MRT stored value tickets (SVTs) were introduced for the convenience of passengers, without having them getting
        206 words
      • Article
        Post box at Mt Elizabeth is not large enough
        88 18  -  D W Distant MAY I request Singapore Telecom to provide either a larger, or else a second, post box at Mount Elizabeth in front of the hospital. I have already alerted it to the fact that very often it is filled
        88 words
      • Article, Illustration
        There will always be a Gulf crisis
        1193 18  -  There are compelling reasons to believe that war will not break out in the Gulf between the US and Iraq, says Melanie Chew. But the Middle East will remain a seething cauldron of potentially dangerous conflicts Melanie Chew %Dr M Che*' is a
        1,193 words
    • SPORTS
      • Article, Illustration
        A year full of surprises
        798 19  -  Cassandra How looks at what tennis had to offer in 1990 Cassandra How DESPITE predictions that Steffi Graf would complete the Grand Slam and that Ivan Lendl would finally retire after winning Wimbledon, 1990 saw a tennis year that was full of surprises. We actually
        798 words
      • SIDE LINES
        • Article
          South Africa's John Martin takes the lead
          98 19 SOUTH AFRICAN yachtsman John Martin took the overall lead in the 27,000 nautical mile BOC round-the-world race for solo sailors after he set a new record for the Cape Town to Sydney run early yesterday. Martin's 18.2 metre yacht Allied Bank crossed the
          98 words
        • Article
          Sworn statements on doping
          97 19 GERMAN SWIMMERS will be banned from the World Championships next month unless they sign sworn statements that they are drug-free. The move comes after recent allegations that many German swimmers and other athletes, particularly from former East Germany, routinely took performance-enhancing drugs. Several former East German
          97 words
        • Article
          A black manager soon
          112 19 A BLACK manager could be in charge of an English League club within two or three years former Professional Footballers' Association chairman Garth Crooks claimed on Thursday. He named Viv Anderson, the first black footballer to play for England, Luther Blissett and Cyrille Regis as men
          112 words
        • Article
          Corretja upsets Calvelli
          51 19 SECOND-SEEDED Massimo Calvelli of Italy was upset by No 9 Alex Corretja of Spain, 6-1, 6-3, in Thursday's quarter-finals of the boys 16 division at the Orange Bowl International Tennis Championships. Top seed Lucas Arnold of Argentina beat No 7 Miles Mac Lagan of Great Britain, 7-6,
          51 words
        • Article
          American football schedule
          70 19 THE FLEDGLING World League of American Football (WLAF) will begin its inaugural season on March 23 with games in Germany, California and Alabama. The 10-team WLAF, with clubs based in Europe and Canada as well as the United States, announced a 50-game, 10-week regular season schedule for
          70 words
        • Article
          Robertson returns cheque
          115 19 TOP AUSTRALIAN squash player Chris Robertson has returned his match cheque to his club sponsors after a shock defeat. The world number three handed back the money described by a club source as a "substantial three-figure sum" after losing to England's 23rd ranked Jason Nicolle on Tuesday
          115 words
    • EPICURE
      • Article, Illustration
        Lock icon Birds of a feather
        436 20  -  Quek Swee Peng tackles traditional feasting at Christmas Quek Swee Peng WE talk at length about it. We discuss ways and means of varying it. But, eventually, we keep to the tried and tested, and the traditional at this annual end-of-the-year family feasting. The turkey will
        Punch  -  436 words
      • Article
        Merry Minton
        160 20 TO SURVIVE long trudges round the shops during the frenzied festivities requires stamina and tolerance. Those suffering from shopping fatigue, caused by the year-end ritual spending, would be pleased to rest their weary limbs at the just-opened Minton Restaurant at Paragon. Excellent tea that remains hot even when
        160 words
    • LIFESTYLE 1
      • Article, Illustration
        Lock icon Yule be sorry this Christmas
        1189 21  -  Carol Cooper harkens to the groaning of the merry organs Carol Cooper Punch THE festive season is a time for giving, sharing and perforating a peptic ulcer. This Christmas, more ulcers will burst between 7 pm and 9 pm, than at any other time of
        Punch  -  1,189 words
      • Article, Illustration
        Beware of Greek gifts
        275 21  -  BRIDGE By Sybil Holloway TOMMY Sandsmark of Norway was very impressed by his fellow countryman, Tor Helness, the well-known international player who made a brilliant play on today's deal from the 1990 Norwegian Pairs Cham- pionship. Most of the declarers were in the same contract, and
        275 words
      • Article, Illustration
        The joy of wine lies in the sharing
        741 21  -  WINE By N K Yong SOME would regard one night in Bangkok as an ultimate experience, but for me it was one night in Gstaad, that very exclusive ski-resort village an hour's drive from Geneva, one of those places which would feature
        741 words
      • Article, Illustration
        Don't stop, please shop
        417 22  -  IT'S three days to Christmas and your panic buttons are out. Never fear, Samuel Ee is here, with gifts to suit every shopper in a bad mood. Samuel Ee For the lady of the house Raynaud porcelain. Beautiful dinner sets to throw at your hubby if
        417 words
      • Article, Illustration
        Gold-diggers' night out
        316 23 SOMEONE has buried some festive treasure at Telok Blangah Hill. Our two intrepid gold-diggers set out with a vengeance, their fingertips eager to dig into something more solid than a jiggling tummy and its accompanying Rolex watch. Here, we track down their movements. PS. Our two intrepid
        316 words
    • JOBS
      • Article, Illustration
        Young 'uns gunning for the top at 35
        890 24  -  Yesterday's executive hoped to reach the top after 35 years on the job. Today's executive wants to be there by age 35. S N Vasuki reports. S N Vasuki TWO weeks ago. Singaporeans glimpsed what has been described as the "career peaking"
        890 words
      • Article
        Human resource issues a new concern for IS executives
        272 24 WHILE senior Information Systems (IS) executives are confident about their ability to deal with technology-relat-ed issues, they feel less effective when dealing with increasingly important strategy and human resource challenges. This is among the findings of an Andersen Consultingcommissioned survey of
        272 words
      • Article
        Japanese economy hit by labour shortage
        873 24 Thousands of firms are affected by a severe lack of workers, which is causing distribution inefficiencies, bankruptcies and higher consumer costs. And the situation will get worse. Teetering on the brink of a multi-mil-lion dollar debt, a construction company in Sendai, Japan, filed for
        873 words
      • Article, Illustration
        EXECUTIVE MOVES
        255 24 Willy Shee has been promoted to managing director of Richard Ellis (Pte) Ltd, Singapore. He joined the company 15 years ago and his main area of expertise is in property investment. The company has also promoted Pauline Goh, who becomes executive director. She has been with Richard Ellis
        255 words
    • THE TRAVEL PAGE
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        1069 25 aty Fligkt ETA FllgM ETO Adelaide SQ228 1910 QF82 2115 QF81 2010 Amsterdam SQ23 1345 KL838 2115 KL837 1505 SQ24 2200 Athens OA471 0015 flartilsart N221 1720 NZ22 1830 SQ338 2030 BA12 2200 (Ulikpapan GA525 1450 Bandar Sari SQ182 0915 Begawaa SQ181 1410 Bangkok QF62 1135
        1,069 words
      • Article, Illustration
        Lock icon Adventure-by-the-Park
        535 25 LETTER FROM MALAYSIA APA Publications (HK) Ltd Boating through swirling rapids, fishing tor giant carp, shooting game with a camera, climbing mountains, watching birds, exploring caves, swimming placid river waters, going on safari through jungles 130 million years old, visiting Orang Asli settlements and getting away from 20th Century
        APA Publications (HK) Ltd  -  535 words
      • Article
        MONEY CHANGER RATES
        150 25 As at 3pm yesterday: Ixxxl dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3330 1.3630 Canadian dollar 1.4830 1.5130 NZ dollar 1.009 1.0390 Sterling pound 3.2900 3.33 US dollar 1.7360 1.7460 Local dollars to 100 anits of foreign currency Austrian schilling 16.00 17.00
        150 words
      • Article
        WORLD TRADE EXHIBITIONS
        97 25 Duration Title Venue Organiser Td Duration Title Venue Organiser Tel Jan 19-27 International Germany Stuttgarter (46)711/2589-0 Construction Jaarbeurs Exhibition For Messe Und Exhibition Caravaning. (Congress Feb 7-12 International Valencia. Feria Muestrano ********** Motoring. Tourism Toy fair Spain International Jan 21-24 Middle East Manama. Arabian Exhibition 973/*****3 De
        97 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article
        If you're losing interest, fix it
        898 26  -  The stock market is boring, a recession's looming and cash is king. But you don't know where to hoard it. Shoeb Kagda and Diana Oon provide a guide to the fixed interest rates available in town Diana Oon Shoeb Kagda Cash-rich investors in search
        898 words
      • Article
        WHERE TO PARK YOUR BONUS
        535 26 Rates 5.75 Bank of India 5.75 Credit Corporation (S) 5.75 Far East Finance 5.75 Golden Castle Finance 5.75 Indian Overseas Bank 5.75 Island Finance 5.75 OCBC Finance 5.75 Sing Investments Finance 5.75 Soon Teck Finance 5.75 Tong Bee Finance 5.56 Focal Finance 5.5 Asia Building
        535 words
      • Article, Illustration
        A weak US dollar suits everybody fine
        1042 27  -  Contrary to what some analysts think, the D-mark is likely to remain firm, says Norbert Walter Norbert Walter t Professor Walter is the chief economist of\ Deutsche Bank THE D-mark trend is friendly, buoyed by a wide range of factors. The West German
        1,042 words
      • Article
        Warrants: premiums and gearing
        727 27 Pricts(asat 20.12.90) Conversion terms Premium/ (discount) E*piry Amount Wrts Share Lnstk Optional" using Gearing 4 Company Issued m units) Conv ratio Exer price Lnstk nom value Cash Cash 1 Lnstk 2 Date Mths left c&cwt Causeway Inv Chuan Hup Chuan Hup 94 CilyOev DBS Land DBS
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      • Article, Illustration
        Lock icon The worst could be over for market
        209 27  -  C H ART By Goola Warden The writer is a chartist with OUB Securities Rumours that some local companies were laden with debt problems, followed by a spate of disappointing results, failed to have much impact on the market. The Straits Times Industrials
        Source: OUB Securities  -  209 words
      • DON'T QUOTE ME!
        • Article
          Ong Beng Seng: the man who would be king
          251 27 ONCE he was upset about being called "the sheikh of Singi pore", but now hotelier Ong Beng Seng has been publicly Z. proclaimed by an international magazine as the man who;"; would be king. In the latest (December) issue of Asiamoneyr
          251 words
        • Article
          In good company
          128 27 FOR the last few days, a favourite talking point in the market has been why OBS consented to grant that Asiamoney interview after making it a life-long habit to "lay low and bite big". Perhaps, like another formerly publicity-shy magnate Oei Hong Leong, he feels the need
          128 words
        • Article
          Non-recurrent recurrent problem
          109 27 HEARD on the grapevine, the following conversation between a broker and a Stock Exchange of Singapore employee on the breakdown of the exchange's computer on Thursday, which forced the local stock market to stop trading for most of the day. The agitated broken "So what is the
          109 words
      • Article
        Lock icon Aussie stocks: time for bargain-hunting?
        712 27 Aussie share prices look cheap but the economy remains weak. Some analysts expect that to change next year. Long-term investors should take another look Reuter THE Australian share market is looking cheap and poised for recovery but some pessimism remains, stockbrokers and fund managers said.
        Reuter  -  712 words
    • TIME OFF
      • Article
        THEATRE
        231 28 SSO Christmas Concert Lim Yau conducts the SSO and the Symphony Chorus in a programme of Christmas music that includes Tchaikovsky's Nutcracker (Act 2), Nicolai's Christmas Overture as well as such favourites as Jingle Bells, We Wish You a Merry Christmas and Twelve Days of Christmas. Victoria Concert Hall.
        231 words
      • Article, Illustration
        EXHIBITIONS
        287 28  -  Compiled by K Jayanti Vivid Gary Sng, a professional photographer trained at San Francisco's Academy of Arts, holds his first solo exhibition in Singapore. The exhibits are a series of images in- spired by dreams. Colourful and bright, they have sense of exaggeration which heightens the vividness of the
        287 words
    • Article, Illustration
      CINEMA
      561 28 Air America. They thought this movie would sell with Mel Gibson and Robert Downey Jr's names in the credits, but apparently some people do prefer movies with plots, which is why this flick about a pilot and his young protege crashlanded with the critics. Tonight at Bedok 1 (11.45pm)
      561 words
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      117 17 oa 0 m '7 WANT YOU TO RIDE FOR ME AT ROYAL ASCOT." |Jj xirif v >V ft i 11 If 1 1 V AH i OMEGA. The watch that rccords the world's significant moments. At the Olympic Games. In outer space. And exclusively for you. [~T X -^'sm The
      117 words
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      94 18 BT welcomes letters from you. Address them to: The Editor, Business Times, 390 Kim Seng Rd, Spore 0923. Letters should include your contact numbers. /jWl!m&*^K n 1 Sharper Than Ever SH \KP Bl SINK SS MOVES IH\I\NI) SHIRT SHIM) M)R lllf I lON HIT CONI > MPOK \R> \RROtt SIIIRI
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      38 18 DOONESBURY by garry trudeau Mil 1 l-L... r YOUKNOUJ, fH THANKS FOR I U&Z VkZ PKSOZXTASM, /™™A I £2 YOUKOOOP BMKWHZNIWASfVRmATIH6 OF COURSE, MR envmsoH ve pouc/tumour west... the& m**" W[ HILL, JIM I POLITICIANS SUCNPGU&S- f Hi
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      119 19 A MONTH OF PHOTOGRAPHS David Bailey, Pamela Hanson. Horst, Robert Mapplethorpe, Sheila Metzner, Helmut Newton, Norman Parkinson, Irving Penn, Herb Ritts, Bruce Weber and other top photographers are in town! Names of these internationally acclaimed photographers are synonymous with the best of modern photography. More than 100 limited edition prints
      119 words
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      Page 20 Advertisements Column 2
      347 20 Retreat into a world of classical charm Create traditions Indulge in English tea or evening cocktails. Enjoy the repertoire of our string quartet or solo pianist. Experience Hyatt Regency Singapore's new Scotts Lounge. Hyatt Regetv.\ Singapore 10-12 Scons Road Singapore 0922 Tel: 7 33 11S8 NEW YEAR'S EVE Cafe Boulevard:
      347 words
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      Page 20 Advertisements Column 3
      280 20 i rvs r^^^3sTn Steal the show. Take a chartbuster and make it better. Once you get started, nothing's gonna stop you singing in The Streets!. Happy Hours 6 Bpm. First drink charge* Mon Thur $12++. Fri, Sat and Eve of Public Holidays $15++. Subsequent drinks at bar prices. fstcA-5 incius,vf
      280 words
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      Page 20 Advertisements Column 4
      326 20 cftas6afb y "The Dream Unfolds Anew" Let your nights awaken to new wonders. Come back to our dream oasis of music and magic the newly refurbished, invigorated Kasbah where the magical nostalgic past, the glittering present and the shimmering promise of the future meet. Each night is a flight into
      326 words
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      209 21 AND ENTERTAIN Yuletide Classics .iSHBRfe f-'^O9BMHBPSHVR^i Enjoy Christmas goodies, classic cuisines, fine wines, yuletide music and a medley of surprises in the traditional ambience ot the ANA Hotel Singapore. A ANA HOTEL SINGAPORE 16 Nassim Hill, Singapore 1025. Tel (65) 732 1222 H Enjoy a traditional Christmas jKHggjl J meal
      209 words
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      Page 21 Advertisements Column 2
      108 21 A Deliciously Italian x'mas &NNek Yearw k Year Christmas Eve Dinner Spinach filled Ravioli $75 Per Person Roast Lamb or Ikan Cold Christmas Delights Kurau Fillet Trilogy of Pheasant Tortellini in Italian festival cakes Double Consomme Sole New Year's Eve Dinner Fillet Lemon Sorbet $75 Per Person Veal Knuckles or
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      89 24 FOR SUCCESSFUL MANAGEMENT OF YOUR BUS,MISS Q7 Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look
      89 words
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      Page 24 Advertisements Column 2
      148 24 DHL IN THE NEWS Advertisement DHL SPANS THE WORLD DHL was started in pany with a global network network, DHL is helping the United States in 1969 of over 1,344 offices serv- companies to improve their by three men Dalsey, ing 55,000 communities in productivity and distribuHillblom and Lind who
      148 words
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      53 25 IDSIOHT wftwwijwm 0 tii nu m The New Paper be the only English-language Singapore newspaper to be published on Boxing Day. Available after 8 am. You've seen Lim Kay Siu the actor in the Omnimax You've also seen as an actor But there another side to Kay out in our
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  • Page 25 Miscellaneous
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      279 25 1 One French democrat about to return ticket on the road (9) 9 In Conwy Vemon saw a mon10 European city made smart 11 One needing proof before he J^BL-—^"188 I can start work (6) p2 I I Mill 12 Scope after quiet, trite remark 13 Almost the finest place
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      205 25 Singapore Forecast (Thur) Maximum temperature 3I .6*C Assoc humidity 71% Minimum temperature 23.8* C Assoc humidity 97% Hours of sunshine 6.55 Rainfall in mm 1.2 Rainfall this month 200.2 Rainy days this month 14 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 21/15 Showers Bangkok. 32/23 Fair Beijing 01/-9 Cloudy Brunei 31/23
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      Page 25 Miscellaneous Column 3
      32 25 SG-ND out Tuese j THCpn TO P\RRlV£_ ON j r4C Office s Of TaoOSRKD9 Of Ta* j eve J tv;TtSW HI-SPe€P A/ V _v C7> fSEj-W- EVENING STANDARD CO. LTD., 1962-1990 8331
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      850 26 ONE OR MORE OF |S||t MORE FREE GIFTS 4*oB ITEMS philips ctFT ITEMS' More Prizes In Our Grand Lucky Draw T mjm sujm i JU* o »4«o Take home bottle, of XO. VSOP and/or lrf Prs7l»: rt W. »M» n_ VOUrr Double D*ital Scan lOOH, c/w j4 SV4.OOU sveooo k
      850 words
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      Page 26 Advertisements Column 2
      109 26 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, 7 profiles of leading managers in Singapore and 1 f relevant book reviews. w V ENTERPRISE MANAGEMENT, in V Business Times every Monday, is must CxCy? x*—~~au. reading for managers who want
      109 words
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      Page 27 Advertisements Column 1
      53 27 Great Eastern Life has over 80 years of experience and the solid back-up of assets of over Kki $2.5 billion. M As the leading local life insurer, we 're committed m to taking care of you, now and into the 21st century. Hi Great Eastern Life We take care of
      53 words
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  • Page 28 Miscellaneous
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      Page 28 Miscellaneous Column 1
      1388 28 TODAY'S TV IfHSTirVPRTTSnHI mi A W '~WKF r I v y,p Raja Laksamana Bentan, 'Alio'Alio! 8.20pm, SBC 5 M A U7 ulharlJ? Sarawak 3.20pm. SBC 5 a new season of that excel- |vM Cjß B Irjl A princess who has the hots lent British comedy scries If® BQ. |W 2.00
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      Page 28 Miscellaneous Column 2
      688 28 Joy of Living, Mon, 10.30pm, The Lady Forgets, Wed, SBC 12 9.30pm, SBC 5 Douglas Fairbanks Jr plays a When a mugger hits Donna pest whose persistent wooing Mills on the head and gives manages to win Irene her a concussion, she immeDunne's heart instead of diately comes to and
      688 words