The Business Times, 22 June 1991

Microfilm: NL17508
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, June 22-23 1991 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Gorbachev denies his PM broad emergency powers
      28 1 MOSCOW President Mikhail Gorbachev deftly blocked an attempt by hard-liners yesterday to give broad emergency powers to Prime Minister Valentin Pavlov.
      28 words
    • Article
      Footsie higher
      37 1 LONDON SHARES were modestly higher at midday yesterday in a general mark-up after Wall Street's gains a day earlier. At about 1115 GMT, the Financial Times-Stock Exchange 100-share index was up 11.2 points at 2,491.1.
      37 words
    • Article
      Dow lower
      42 1 THE New York stock market staged a modest upswing yesterday morning in activity swelled by a quarterly "triple witching hour." The Dow Jones average of 30 industrials rose 2.90 to 2,956.84 at 1430 GMT in the first hour of trading.
      42 words
    • Article
      No 1 nonetheless
      25 1 SINGAPORE remains the most cost-competitive shiprepair centre in the world in spite of increases in both costs and repair prices Page 2
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    • Article
      The fizz is back
      35 1 BEVERAGE GROUP Fraser Neave's soft-drinks and dairies operations turned in a bubbly performance for the six months ended March this year, in contrast to a lacklustre showing last year Page 3
      35 words
    • Article
      First Pac does it
      34 1 LI EM SIOE LIONG's Hong-kong-listed First Pacific Co Ltd. through its wholly-owned subsidiary Cranhaven Pty Ltd, has successfully taken over troubled Australian computer products distributor Imagineering Technology Ltd Page 4
      34 words
    • Article
      US stand
      36 1 ANXIOUS to get out of its recession as quickly as possible. the US will once again find itself playing the Lone Ranger when the G-7 finance ministers meet in London this weekend Page 5
      36 words
    • Article, Illustration
      STOCK INDICES
      31 1 Frida) Change BT-MGA 723 58 -1.31 Kuala Lumpur .624.44 +1.24 Tokyo 24.275.08 +192.82 Hongkong 3,565.14 -28.24 Sydney 1.511.8 +8.4 1 hursday Change New York 2,953.93 -1.57 London 2,479.9 -4.8
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    • Article
      CURRENCIES
      24 1 Exchange rates USS SS 1.7775 100 Yen SS 1.2811 MS SS 0.6382 Money market rates Overnight 5 1/4% +5/16 3-month 5 15/16% +1/8
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    • Article
      COMMODITIES
      43 1 London Gold AM fix IJSS367 40 -US$0.40 Rubber S'pore July l48.7S«/kg »-0 25 M'sia July 234.00*/kg -0.50 KL Tin I umover 44 tonnes 31 Spot MS 15 48 /kg -0 08 Crude palm oil Turnover 1,048 lots -313 July V1S772 /tonne -8
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  • Article
    Lock icon Jakarta to revamp tax laws to boost investment
    357 1 Reuter JAKARTA Indonesia plans wide-ranging changes to its tax laws to promote long-term investment. "To boost the mobilisation of long-term funds the government proposes getting rid of income tax for investment funds, venture capital, and holding companies," Finance Minister Johannes Sumarlin said
    Reuter  -  357 words
  • Article, Illustration
    Sumarlin gives assurance to investors
    328 1  -  From Maggie Ford in JAKARTA FOREIGN investors in Indonesia can rely on a consistent, pragmatic economic policy and a continued commitment to an open economy and financial deregulation, according to the country's Finance Minister, Dr Johannes Sumarlin. In an exclusive interview, the minister noted that
    328 words
  • Article
    Higher rates boost Sing dollar
    191 1  -  By Chew Eng Han THE STREAM of new share issues is having an indirect impact on the Singapore dol- lar. Rising interest rates, a result of tight liquidity caused by the impending new issues, is boosting the local dollar. Reacting to news of UOB's half-point
    191 words
  • Article
    Lock icon Japanese chains opening more outlets in region
    337 1 Reuter TOKYO Japanese supermarket and department store chains are rushing to open new outlets in South-east Asia as countries in the region increase in affluence. "South-east Asia will continue to grow, leading to stronger buying power and contributing to retailer profits," said Chuji
    Reuter  -  337 words
  • Article
    Few banks offering loans for CSA share application
    594 1  -  By ly Diana Oon and Kooi Cho Twig THE LATEST public share offering by software house CSA Holdings is not going to see local and foreign banks fighting each another to offer financing for share applicants. Gone, it seems, are the days
    594 words
  • Page 1 Advertisements
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        PM's community visits
        42 2 PRIME MINISTER Goh Chok Tong will be making his second community visit tomorrow when he tours the Jurong vind Hong Kah North constituencies. He will meet the residents of both constituencies and hold a dialogue session with grassroots leaders.
        42 words
      • Article
        New man at the helm
        33 2 THE general manager of the Bank of Tokyo, Takashi Uno, was elected as the new president of the Japanese Chamber of Commerce Industry at its annual meeting yesterday.
        33 words
      • Article
        HDB sets up new department
        40 2 NEW department, called the Industrial Properties Department, will be set up on July 1 by the Housing and Development Board to manage the board's industrial estates and to l ook into improvements to these estates.
        40 words
      • Article
        Rediscovering Singapore
        57 2 NtW ZEALANDERS will be given an opportunity to have a fresh look at Singapore when a special event is launched there jointly by the STPB, Air New Zealand, Hyatt Auckland, fames Cook Wellington and Noah Hotel Christchurch. The 'Rediscover Singapore" promotion will be launched in Auckland, Wellington and
        57 words
      • Article
        Corrections and clarifications
        65 2 !N BTs June 21 report on 'Market dives again ahead of rate hikes', it was mentioned that UOB's interest rates were 5.5 per cent for fixed deposits of one to three months, and 6 per cent for deposits from six months to three years. The rates should
        65 words
    • Article
      The Rue Royale comes to the Oriental
      160 2 I wo MILLION dollars will go into the ballroom of The Oriental to make it a section of the Rue Royale in Paris. Booths, resembling prestigious Parisian boutiques, will be set up from June 25 to 27 for Les Journees Dii Prestige an
      160 words
    • Article
      Shiprepair yards here give best value for money
      413 2  -  By Rahita Elias SINGAPORE remains the most cost-competitive shiprepair centre in the world despite increases in both costs and repair prices, according to a senior industry official. At the recent Nor-Ship-ping 91 conference. Tan Mong Seng, president of the Association of Singapore
      413 words
    • Article
      COEs up in most categories
      377 2 VEHICLE quota premiums in the last tender exercise continued to rise in all categories except for big cars. This surprised some distributors who had expected the premiums to drop a bit. The prices for the July Certificates of Entitlement (COEs) went up by between S2
      377 words
    • Article
      Telecom expands into Sri Lanka
      149 2 SINGAPORE Telecom, through subsidiary Singapore Telecom International, is extending its global interests by setting up a joint venture in Sri Lanka. The joint venture agreement between STI and Sri Lankan-based Capital Development and Investment Company (CDIC) was signed yesterday by STl's chairman Sung Sio Ma
      149 words
    • Article
      Segmented market presents new ad challenge
      218 2 ADVERTISERS and advertising agencies have to be more focussed and hard-hit-ting in their delivery to keep up with the times, says Dr Donald Ee, managing director and CEO of DNC Advertising (Singapore Pte Ltd. In Singapore the trend has been to move towards a
      218 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      557 2 Vessel Voy Wo Berth total Doparttrt Vessel toy Wo Berth Vnvi Pggbw Kepoei Wharves Sederhana 060*91 M2B 22.06/0900 22 06/2300 C Express 07A/91 K32 alongside 2106/2100 Sn Taniung ST2591 M4B 21 06/2100 2106/2359 Kota Pusaka E 903 K31 alongside 26 06/0600 Li Heng 91/5 K30 alongside 22.06/1300
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    • Article
      CONTAINER SCHEDULE
      1038 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rslts Sty Voy No Etb/Btr Period From To From Ap.-Jm Neto 1091E 22/1500 1 21/1500 21/1659 21/1900 AM Bhuro 501N 24/1200 3 22/0700 22/1159 22/1400 4 22/1200 22/1459 22/1700 A*ad 906 24/2300 2 21/1700 22/0659 22/0900 4 22/1200
      1,038 words
    • Article
      IN MALAYSIAN PORTS
      167 2 Ponam Port On the way: Superim 1, Eagle Wind, Bunga Seroja. Tfkchores. Koefci Maru, Progress Liberty. Pernas Propane. Shafinaz Ria. Jiang Ling Hai. Alam Teladan, Hock Hai Lee. Bunga Semarak. Meridian Sun, Feng Yang, Geni Sta, Work) Lynx Due on June 21: Pioneer Supreme, Thai Yang Due
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Soft drinks, dairies give a kick to F&N's results
      402 3  -  By Genevieve Cua BEVERAGE group Fraser Neave's (F&N) soft-drinks and dairies operations turned in a bubbly performance for the six months ended March this year, in contrast to a lacklustre showing last year. The group's net earnings after minorities, however, were
      402 words
    • Article
      Asia Pacific Breweries interim earnings up 20pc
      214 3 ASIA Pacific Breweries managed a creditable 20 per cent gain in net earnings for the six months ended March 1991, barely bringing it back to the profitability level two years ago. Net earnings totalled $35.29 million compared with $29.48 million for the six
      214 words
    • Article, Illustration
      Far East Levingston lays keel for third cable ship
      312 3  -  By Selva Kumar RIG BUILDER Far East Levingston Shipbuilding (FELS) yesterday laid the keel for the third cable ship to be built at its Pioneer Yard for US communications giant AT&T and Canada's Teleglobe Marine Inc. To be delivered by the
      312 words
    • Article
      Watch out, stags — it's a whole new ball game out there
      503 3  - Watch out, stags it's a whole new ball game out there THE HOCK LOCK SIEW COLUMN By Magdalene Ng IF YOU HAVE cash to spare and an eve on the expected spate ot new public offerings, remember that these days you also have many more factors to weigh and they
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    • Article, Illustration
      Lock icon Khoo Kay Peng resigns from PMRI
      333 3 Bernama KUALA LUMPUR Malayan United Industries Bhd's group chairman and group chief executive Tan Sri Khoo Kay Peng has retired as chairman of Pan Malaysia Rubber Industries Bhd, one of the companies under the MUI group. The PMRI board has appointed Ibrahim Zain, chairman
      Bernama  -  333 words
    • Article
      Lock icon MUI sees good income from Innovest
      355 3 Bernama KUALA LUMPUR Malayan United Industries is confident that the investment income derived from its participation in food-based Innovest would more than compensate the income derived from cement operations, a company official said yesterday. The group, through a member company, Pan Malaysia Rubber Industries,
      Bernama  -  355 words
    • COMPANY BRIEFS
      • Article
        New fee structure at registrar
        127 3 EFFECTIVE July 1, the fee structure for registration of companies will be revised to simplify and speed up the registration process. The revision will result in equal treatment for both locally incorporated and foreign companies. The Registrar of Companies and Businesses announced yesterday that with
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      • Article
        Depositing NatSteel with CDP
        110 3 NATSTEEL has reminded its shareholders and warrant holders to deposit their certificates with the Central Depository Pte Ltd (CDP) or through members of the Stock Exchange of Singapore by noon, next Wednesday. Those who do so will enjoy a waiver of charges which include the $10
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    • Article
      DBS Asset still in the lead
      159 3 CHARITY DBS ASSET Management continued to make profits in the stock market despite the difficult trading conditions from June 12 to 18. It maintained its lead in the DBS Charity Investment Race, according to the results released for the period ending June 18. DBS
      159 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      751 3 jM FRASER NEAVE LIMITED (Incorporated in the Republic of Singapore) RESULTS FOR THE HALF YEAR The directors announce the unaudited results for the half year ended 31st March GROUP COMPANY 1991 1990 Change 1991 1990 Change $000 000 $000 000 TURNOVER 631 ,324 6.9 TRADING PROFIT 93,934 73,217 28.3 617
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  • REGIONAL / INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        1,000-room five-star hotel planned for Bali
        80 4 JAKARTA FT Caterison Sukses plans to set up a five-star hotel in Kuta, Bali, with investments of around Rp6os billion (***** million). The hotel, which will occupy a 24-hectare plot, will have 1,050 rooms. Construction will start by the end of this year and
        80 words
      • Article
        Thai firm fails to get listing
        46 4 BANGKOK The Stock Exchange of Thailand subcommittee has rejected the listing application of Banchang Land House Co. SET president Maruey Phadoongsidhi said as the company only began operations this year, it was too early yet to list on the market.
        46 words
      • Article
        Adsteam unit in assets deal
        63 4 SYDNEY Electrical consumer goods manufacturer Email Ltd said it has agreed to buy the Australian assets of National Consolidated Ltd 100 per cent subsidiary F Muller Pty Ltd. It will also buy NCL's 50 per cent holding in the Email-NCL joint venture Lovelock Luke Pty
        63 words
      • Article
        Kanebo sees lower net profit
        96 4 TOKYO Kanebo Ltd expects group net profit of 1 billion yen (5512.8 million) in the year ending March 31, 1992, slightly down from net profit of 1.03 billion the previous year, the company said. Kanebo, a textiles and cosmetics manufacturer, sees group current profit ot
        96 words
    • Article
      First Pacific unit takes over Imagineering
      358 4  -  By Carolyn Lim SINGAPORE Mr Liem Sioe Liong's Hongkong-listed First Pacific Company Ltd, through its wholly-owned subsidiary Cranhaven Pty Ltd, has successfully taken over troubled Australian computer products distributor Imagineering Technology Ltd. The move will trigger several changes: Imagineering will be taken private and
      358 words
    • Article
      Lock icon Group rejects Trump Castle plan
      314 4 Reuter NEW YORK The dissident bondholder group of Trump Castle said they will reject a planned restructuring and are seeking a different operator for the casino. The dissident group represents over 25 per cent on the U*****.8 million (*****.7 million) of public debt outstanding of
      Reuter  -  314 words
    • Article, Illustration
      Lock icon George Walker, wife and son to sue Brent Walker Group
      313 4 Reuter LONDON George Walker is pressing ahead with legal action against Brent Walker Group pic for wrongful dismissal and breach of contract along with his wife and their son, their solicitor said. George Walker also plans to sue banks in
      Reuter  -  313 words
    • Article
      Indon firm in bottled water venture
      224 4 JAKARTA Golden Missisippi (AGM), Indonesia's major bottled water producer, will start production in Brunei Darussalam in August in a joint venture, the Jakarta Post reported earlier this week. Willy Sidharta, the president of the company, earlier said that the joint venture, Indonesia-Brunei Investment Corporation,
      224 words
    • Article
      Lock icon NZ's TV3 takes rival station to court
      242 4 Reuter WELLINGTON New Zealand's two rival television companies are moving their battle for viewers from the living room to the courtroom with the fledgling private broadcaster, TV3 Network, alleging unfair conduct by its bigger state rival. TV3, which went into receivership last year
      Reuter  -  242 words
    • Article, Illustration
      Lock icon 900 Apple staff laid off, CEO's salary cut 15pc
      356 4 AP SAN JOSE, California Apple Computer Inc laid off 900 people and chief executive John Sculley took a 15 per cent pay cut along with other executives who were criticised for their fat salaries. The layoffs on Thursday were expected as
      AP  -  356 words
    • Article
      Lock icon Troubled Janome in venture with Amada
      174 4 Reuter TOKYO Janome Sewing Machine Co, embroiled in a stock scandal and facing financial troubles, will make and sell industrial machinery with Amada Co Ltd from April 1992 as part of a restructuring plan, a Janome spokesman said. A joint venture involving machine tool
      Reuter  -  174 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      1444 4 Deutsche Bank AG m (Incorporated in the Federal Republic of Germany) Consolidated Balance Sheet as of December 31,1990 Assets in DM 1,000 1990 31.12 1989 Liabilities in DM 1,000 1990 31.12.1999 Cash on hand 1,727,221 1.006.341 Liabilities to banks 82,985,397 78.877,828 Balance with Deutsche Bundesbank 4,785,575 6.420 549 Liabilities to
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    • Advertisement
      Page 4 Advertisements Column 2
      86 4 SAWMILL FOR SALE 3 pieces of light industrial land with fully operated sawmill and excellent returns Area 11.98 acres Location along old Masai Road, Palentong, Johore Bahru. Strategically located between Pasir Gudang Industrial Complex and Port Authority and the Johore Bahru commercial centre. Good for conversion into a factory as
      86 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon US to play lone ranger role again at G-7 meeting
      428 5 Bush still pushing for lower interest rates AP WASHINGTON Anxious to get out of its recession as quickly as possible, the United States will once again find itself playing the lone ranger when the Group of Seven finance ministers meets
      AP  -  428 words
    • Article, Illustration
      Short-term outlook for US$ mixed
      642 5 DBS Bank weekly currency review US$/DM: Long-term bull trend remains As expected, the dollar continued to rally from last Friday's close of 1.7955 to a high of 1.8235, 65 points short of the triangle objective of 1.8300, before reversing to close at 1.7905. The upward
      642 words
    • Article
      Lock icon Drexel agrees to tentative tax claim settlement
      252 5 Reuter NEW YORK Drexel Burnham Lambert has reached a tentative agreement with the US Internal Revenue Service to settle a US$5.3 billion (559.4 billion) claim threatening the bankrupt company's pact with creditors, a federal judge said on Thursday. US district Judge Milton Pollack
      Reuter  -  252 words
    • Article
      Lock icon Creditors 'no' to Italy farm group liquidating
      143 5 AFP MILAN Foreign creditor banks of Italy's central agricultural buying organisation, Federconsorzi. which has accumulated debts of more than US$6 billion (5510.7 billion), are opposed to plans for its voluntary liquidation. A recent meeting of the committee of foreign banks in Milan confirmed
      AFP  -  143 words
    • SMALL CHANGE
      • Article
        HK exchange to be allowed to collect duty
        47 5 HONGKONG The Hongkong government plans to allow the stock exchange to collect stamp duty on share transactions on the government's behalf. A government spokesman said the move was first proposed by the stock exchange to cut brokers' dealing costs.
        47 words
      • Article
        Nomura denies illegal dealings
        56 5 TOKYO A Nomura Securities Co Ltd spokesman has denied a newspaper report that the firm illegally compensated clients last year for losses incurred in securities investment. But he said, without elaborating, that there had been a discrepancy between figures in the company's annual income report and
        56 words
      • Article
        John Hancock may bid for banks
        65 5 BOSTON John Hancock Financial Services may be interested in taking part in the bidding on one of five financially-troubled banks in New Hampshire. A spokesman for John Hancock, one of the top 10 life insurance companies in the US, confirmed that company officials attended
        65 words
      • Article
        First Maryland buys York Bank
        65 5 EDISON, New Jersey Midlantic Corp has signed a definitive agreement to sell York Bank and Trust Co to First Maryland Bancorp for about US$l3O million. York will become a subsidiary of First Maryland, which is a subsidiary of Allied Irish Banks pic. Midlantic said that
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      177 5 I Mi INSTITUTE OF CERTIFIED PUBLIC I ACCOUNTANTS OF SINGAPORE I A DEVELOPMENT PROGRAMME FOR EXECUTIVES! The Certified Diploma in Accounting and Finance (CDAF) is a post-graduate level qualification which is offered by the Chartered Association of Certified Accountants (United Kingdom). It aims to provide executives from non-accounting backgrounds with
      177 words
    • Advertisement
      Page 5 Advertisements Column 2
      561 5 %Wjf ASIA PACIFIC BREWERIES LIMITED (Incorporated in the Republic of Singapore) RESULTS FOR THE HALF YEAR k w #i The directors announce the unaudited results for the half year ended 31st March GROUP COMPANY 1991 1990 Change 1991 1990 Change $000 000 $000 000 TURNOVER 3&y44 1.1 TRADING PROFIT 50,744
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  • Page 5 Miscellaneous
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  • THE REGION
    • NOTE BOOK
      • Article
        Aussie business migration plan under fire
        75 6 CANBERRA Australia's current efforts to attract business migrants should stop because they encourage tax evasion and invite the attention of organised crime, a government advisory committee said yesterday. Business immigration, from Taiwan and Hongkong in particular, is being investigated because of allegations of money-recycling
        75 words
      • Article
        Top-level protest to US
        65 6 CANBERRA Australia made a top-level protest on Thursday to the US, saying an American offer to subsidise wheat sales to Kuwait breached the spirit of a pledge not to disrupt trade. Officials said Prime Minister Bob Hawke wrote to President George Bush to complain that Kuwait
        65 words
      • Article
        Outcry over ban on mining
        61 6 SYDNEY The government's decision to ban mining at Coronation Hill in the Northern Territory has put at risk mining investment projects totalling ASBOO million, according to the Australian Mining Industry Council (AMIC). "It has opened a Pandora's Box which has enormous implications for the future
        61 words
      • Article
        Manila debt to be rescheduled
        67 6 PARIS The Paris Club of government creditors has agreed to reschedule part of the Philippines' official debt. The French finance ministry said on Thursday it also authorised creditors to swap part of their loans into local currency. Officials said the agreement covered about US$l.6 billion
        67 words
      • Article
        Thai aid for Pinatubo victims
        76 6 BANGKOK Thailand is to ship rice, medical supplies and an undisclosed amount of financial aid to help victims injured and displaced by the Pinatubo volcanic eruption in the Philippines. A message from Prime Minister Anand Panyarachun to Philippine President Corazon Aquino read: "It is with
        76 words
      • Article
        Trade privileges for Laos
        58 6 BANGKOK Thailand agreed on Thursday to grant trade privileges to Laos in an effort to boost the underdeveloped country's economy. The official said the agreement signed by Thai Foreign Minister Arsa Sarasin and visiting Laotian Trade and Tourism Minister Khamphouy Keoboualapha was part of Bangkok's policy
        58 words
    • Article
      Lock icon Recluse returns with KL project
      395 6 Deal-maker Ananda Krishnan to build multi-million dollar mini-city Reuter KUALA LUMPUR A 53-ycar-old businessman, known here as Malaysia's Howard Hughes, has emerged from seclusion to unveil the country's biggest urban development project, a city-within-a-city in the capital. The multi-million dollar project announced this week will
      Reuter  -  395 words
    • Article, Illustration
      Lock icon Mount Pinatubo eruption may leave 600,000 unemployed
      108 6 Reuter MANILA The Philippine government says more than 600,000 people may be out of work because of the eruption of Mount Pinatubo. The volcano's eruption over the weekend forced 250,000 people to abandon homes and closed the largest US air base in Asia.
      Reuter  -  108 words
    • Article
      Lock icon Aussie housing data jump raises recovery hopes
      337 6 Reuter SYDNEY Figures showing a dramatic surge in housing finance for April have lifted government hopes the Australian economy is starting to shuffle out of recession. Treasurer John Kerin seized on an adjusted 21.4 per cent rise in April housing finance to As
      Reuter  -  337 words
    • Article
      Lock icon NZ to have tighter rules for business immigrants
      230 6 MBT WELLINGTON Business immigrants from Asia and other countries wanting to settle in New Zealand will have to invest their money here under tightened rules. The government plans to introduce the rules following complaints that many people have been coming here to
      MBT  -  230 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      1579 6 ©UCO BANK (INCORPORATED IN INDIA) HEAD OFFICE: 10 BIPLABI TRAILOKYA MAHARAJ SARANI, CALCUTTA 700 001, INDIA BALANCE SHEET AS AT 31st MARCH 1989 CAPITAL AND LIABILITIES INDIAN RUPEES PROPERTY AND ASSETS INDIAN RUPEES CAPITAL: (wholly owned by Central Government) 117,00,00,000.00 Cash In Hand and with Reserve Bank Of India and
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  • THE WORLD
    • Article
      Lock icon US unemployment claims up sharply in early June
      356 7 AP WASHINGTON The number of Americans filing new claims for unemployment benefits rose sharply in early June, cancelling out improvements in May, the government said on Thursday. Analysts called the steep rise worrisome and said it may mean that the economy had
      AP  -  356 words
    • Article
      Lock icon Executives expect better sales, profits: survey
      182 7 AP NEW YORK Businesses executives almost nationwide expect higher sales and profits in the next quarter, a Dun and Bradstreet survey released on Thursday indicates. Optimism about sales rose in every region except New England, while optimism about profits rose in seven of nine
      AP  -  182 words
    • Article
      Lock icon S Korea's GNP likely to grow 8.8pc in second half
      237 7 Reuter SEOUL South Korea's gross national product (GNP) is expected to grow a real 8.8 per cent in the second half of this year, due to an improved trade environment. The Bank of Korea (BOK), in a report released on
      Reuter  -  237 words
    • Article, Illustration
      Lock icon Delors outlines aid programme for Soviet Union
      357 7 UPI MOSCOW European Community chief Jacques Delors has outlined an ambitious aid programme for the Soviet Union, but Mikhail Gorbachev cautioned that "hopes for an easy and smooth process arc an illusion". Mr Delors' Kremlin meeting with Mr Gorbachev on Thursday, and his
      UPI  -  357 words
    • WORLD WATCH
      • Article
        Brazil to pay foreign banks US$900m
        77 7 NEW YORK Brazil plans to make a US$9OO miUion (S$ 1.5 billion) cash payment to foreign banks on July lin a first step towards settling roughly US$B billion in interest arrears on its foreign debt. Citibank, one of Brazil's largest creditors, said the payment
        77 words
      • Article
        Tokyo eases some curbs
        34 7 TOKYO Japan yesterday decided to end curbs on tourism and other human exchanges with South Africa but to retain strict economic sanctions until Pretoria completes the job of dismantling apartheid.
        34 words
      • Article
        Saddam's family black-listed
        65 7 WASHINGTON Americans have been banned from doing business with the eldest son of Iraqi President Saddam Hussein and several other members of the Hussein family. The Treasury Department said on Thursday that the Hussein family had been added to a list of agents whose assets have been
        65 words
      • Article
        Sweden-Iran understanding
        52 7 TEHERAN Sweden and Iran signed a letter of understanding on Thursday to boost bilateral economic cooperation, with Stockholm agreeing to purchase Iranian crude oil. The official IRNA news agency said the accord was signed by visiting Swedish Industry Minister Rune Molin and Iran's Minister of Heavy Industry, Hadi
        52 words
      • Article
        Bradlee to leave the helm
        62 7 WASHINGTON Benjamin Bradlee said yesterday that he was resigning as executive editor of The Washington Post after a 26-year career that made the newspaper one of the most respected in American journalism. Mr Bradlee, who turns 70 on Aug 26. said he would become a
        62 words
      • Article
        Mitsuzuka named faction head
        65 7 TOKYO Former Foreign Minister Hiroshi Mitsuzuka was selected on Thursday to head the Japanese governing party's second largest faction, giving him an important power base and boosting his chances to become prime minister. As a faction head, Mr Mitsuzuka, 63, is expected to make a bid
        65 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      1322 7 UCO BANK (INCORPORATED IN INDIA) HEAD OFFICE: 10 BIPLABI TRAILOKYA MAHARAJ SARANI, CALCUTTA *****1, INDIA BALANCE SHEET AS AT 31 st MARCH 1990 CAPITAL AND LIABILITIES INDIAN RUPEES PROPERTY AND ASSETS INDIAN RUPEES CAPITAL (Wholly owned by Central Government) 267,00.00.000 00 Cash In Hand and with Reserve Bank Of Indian
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      STII sinks below 1,500 level on thin volume
      4837 8  -  By Magdalene Ng THE local stock market ended the week on a quiet note as investors were reluctant to take up fresh positions ahead of the long weekend, especially with the international financial scene still fraught with uncertainties. The bellwether Straits Times
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4227 9 Main Board (X Ht Koreign 1070 +40 3.9% DBS Foreign 1360 +30 +2.3% lsctan 50* 665 +15 +2.3% Roth Inds 50* 545 15 +2.8% Wepco 50* 500 74 +12 19.4% SI A 200 1360 +10 0.7% PELS 50* 690 +10 +1.5% (HJB 535 10 1.9%
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market closes mixed on a lack of fresh factors
      4236 10 Bernama SHARE PRICES on the Kuala Lumpur stock market closed mixed yesterday as a lack of fresh leads left punters focusing on situational stocks. The KLSE Composite Index gained 1.24 points to close at 624.44 while the Industrials Index added 2.24
      Bernama  -  4,236 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      62 10 H E -Blow-by-blow account of the assassination -Graphics: Rajiv's last minutes alive and the deadly belt bomb -Dramatic colour pictures: The suicide bomber ana the aftermath of the blast -The security lapses that let the suicide bomber reach Rajiv -The Rajiv I knew: Indian editor and ex-classmate writes VflP l
      62 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market finishes firmer on small-lot buying
      2187 11 Reuter AFP TOKYO STOCKS seesawed to end firmer for a second day. Investors decided the market was oversold and pushed it up with scattered smalllot buying. A steady yen and expected demand from new investment trusts opening next week boosted sentiment, but volume was
      Reuter; AFP  -  2,187 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Fall in HK Telecom shares takes toll on indices
      1953 11 Reuter HONGKONG SHARES closed lower in thin, uninspired trade yesterday, dragged down by a 25 HK cent loss for blue chip giant Hongkong Telecommunications, brokers said. "Trading seems to have been dominated by Telecom's drop not in terms of turnover but
      Reuter  -  1,953 words
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  • REGIONAL STOCK MARKETS
    • Aussie prices close slightly firmer
      • Article
        AUSTRALIA
        934 12 AUSTRALIAN SHARES closed slightly higher on a positive note supported by small volumes of local and offshore buying. Brokers said there was a cross of buying and selling caused by book squaring in the lead-up to the end of the financial year next Friday. "Plus some bargain-hunters came into
        934 words
      • Article
        BANGKOK
        845 12 STOCK PRICES on the Stock Exchange of Thailand ended mixed yesterday, with some blue chip losses on a moderate trading day. The SET index ended 0.51 point higher at 773.54 on a turnover of 2.60 billion baht. A broker said the 32.87-point plunge of the SET index in the
        845 words
      • Article
        JAKARTA
        593 12 FEW ISSUES traded on the Jakarta stock market yesterday, with most of them falling. The official index closed down 1.92 points to 372.71 on turnover of 1.4 million shares in the half-day's trade, brokers said. News that the government plans to let foreigners buy into banks had already been
        593 words
      • Article
        MANILA
        468 12 WORRIES about the huge cost of rehabilitating northern Philippine towns damaged by volcanic eruptions stretched Manila stock market's selling trend to the end of the week, brokers said. Manila's composite index lost 18.54 to end at 1,082.62 yesterday, but brokers said the market looked well supported at 1,000. Combined
        468 words
      • Article
        TAIWAN
        156 12 THE Taiwan stock index Finished higher yesterday amid cautious buying. Dealers predicted the index would move in a narrow range in the near term. The weighted index gained 57.10 points to close at 6,033.24 compared with Thursday's 5,976.14. Turnover was a light NTS33.B billion against NT543.6 billion on Thursday.
        156 words
      • Article
        SEOUL
        765 12 THE Seoul stock index closed below the psychologically important 600 level yesterday despite efforts by institutions to support the market. The composite stock index lost 6.58 points to 597.69. The market slipped below the 600 level for the first time in 10 months since Aug 24, 1990 when it
        765 words
      • Article
        NEW ZEALAND
        100 12 MORE THAN 100 years of the "open outcry" method of trade on New Zealand stock exchanges ended on a high note with most leaders ending firm. The Barclays index estimate rose 14 points to 1,447. The market will start screen-based trading on Monday and exchange officials hope this
        100 words
      • Article
        Untitled
        964 12 Close Previous June 21 SYDNEY All Ordinaries Index 1,511.8 1,303.4 +8.4 All Industrials Index 2.337.1 2.325.0 +12.1 All Resources Index 881.4 874.8 +6.6 Turnover (million) 67.9 88 71 -20.81 BANGKOK SET Index 773 54 773.03 +0 51 Turnover (million baht) 2,602 3.657 -1,055 JAKARTA Composite Index 372.71 374.63 -1.92 MANILA
        964 words
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  • WORLD STOCK MARKETS
    • Dow weathers another blow from IBM
      • Article, Illustration
        NEW YORK
        1349 13 WAL L STREET weathered another disappointing earnings forecast from IBM with surprising aplomb, with stocks slipping only slightly after the computer giant said second-quarter profits would be below estimates. Investors were apparently more focused on interest rates, which eased after news of a large rise in weekly jobless
        1,349 words
      • Article, Illustration
        LONDON
        898 13 SHARES in London were pulled down by weak prices on Wall Street and a featureless market, dealers said on Thursday. "The market is stunningly empty in terms of anyone doing anything," said one dealer. Dealers said volume was very thin and domestic political and economic concerns continued to depress
        898 words
      • Article
        FRANKFURT
        213 13 FRANKFURT STOCKS notched up a slight gain on Thursday, as the DAX spot trend indicator finished the session at 1,687.03 points, up four points or 0.24 per cent. The Commcrzbank indicator was up by 1.30 points to 2,001.90. Operators said the market was uninspired, but helped by the bond
        213 words
      • Article
        PARIS
        224 13 A NERVOUS bond market, pessimistic economic projections and political uncertainty weighed on French share prices, which finished the monthly account period on Thursday at their lowest level in more than seven weeks. The blue chip CAC-40 index ended 4.54 points or 0.25 per cent lower at 1,793.65 on modest
        224 words
      • Article
        ZURICH
        222 13 SWISS share prices finished mixed with an easier bias in moderate trading on Thursday, dealers said. "We opened a touch higher, but as there were no follow-through orders prices came back again," one dealer commented. The all-share SPI index slipped 1.3 points to 1,110.2 and the SMI index of
        222 words
      • Article
        BRUSSELS
        161 13 BELGIAN SHARES closed mixed after a fairly slow session despite the start of a new trading account. Dealers said a rise in bond yields and the launch on Wednesday of the government's 9 per cent borrowing for private investors might be diverting some funds from the market. Volume was
        161 words
      • Article
        STOCKHOLM
        70 13 PRICES on the Stockholm bourse mostly recovered from an early round of profit-taking and foreign declines, but closed slightly down from Wednesday. The bourse general index closed 0.05 per cent lower at 1,124.70 in moderate turnover of 336 million crowns. Blue chips slid an average 0.32 per cent. Dealers
        70 words
      • Article
        JOHANNESBURG
        413 13 PERSISTENT DEMAND for a limited supply of quality shares continued to push the Johannesburg market to new peaks on Thursday. Dealers said demand was from both local and foreign sources and ascribed the bullish sentiment to improved perceptions arising from political reforms, which bode well for the lifting of
        413 words
      • Article
        TORONTO
        242 13 TORONTO STOCKS recovered from an early setback to close flat on Thursday after sliding on signs that the US economy is making only a halfhearted recovery, dealers said. "I think the fact that it did come back is encouraging for Friday's trade," one trader said. The TSE-300 composite index
        242 words
      • Article
        AMSTERDAM
        291 13 DUTCH SHARES closed mainly lower on Thursday after bobbing up and down with the dollar. The CBS tendency index ended 0.3 point lower at 94.9, after trading in a range of 94.7 to 95.4. "The dollar has been the bottom under the Dutch market. If it falls below two
        291 words
      • Article
        Untitled
        196 13 June 20 CIum Previous NEW YORK Dow Jones 2,953.93 2,955 50 -1.57 NYSE Financial 150 93 150 94 -001 SAP 500 375.42 375.09 Turnover (million) 162 159.7 +2.3 LONDON Financial Times 30 1,943.7 1,952.2 -8.5 FTSE 100 2.479.9 2.484.7 -4 8 Turnover (million) 412.7 473.0 -60.3 AMSTERDAM CBS Tendency Index
        196 words
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      Page 13 Advertisements Column 1
      34 13 For Home or Office deliveries of: Business Times, Straits Times, Sunday Times, LianHe Zaoßao, Berita Harian, Berita Minggu, Shin Min, LianHe Wanßao call our Hotlines 740-1839. 740-1840. On target, chartpoint in BT on Saturday
      34 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Dollar firmer after comments by next Bundesbank president
      1196 14 REPORTS l HE US DOLLAR was firmer in early European trade yesterday, continuing to climb after Helmut Schlesinger, Bundesbank president-elect, said he did not expect G-7 finance ministers to make concrete statements on the dollar. The ministers will be meeting in I
      1,196 words
    • Article
      Lock icon Ringgit likely to rebound in the short-term
      471 14 Reuter KUALA LUMPUR The Malaysian ringgit, which hit new lows against the dollar this week despite repeated central bank intervention, should rebound in the short term but analysts say the longer run outlook is for it to weaken further. An expected, correction of
      Reuter  -  471 words
    • Article
      Lock icon Analysts look for retest of 1.7750 marks
      319 14 US dollar currently in the fourth wave, say analysts Reuter NEW YORK The best short-term play in dollar/mark is to sell any rallies at or just above 1.7940 marks, say technical analysts looking for a retest of Europe's low of 1.7750 within a
      Reuter  -  319 words
    • Article
      FINANCIAL FUTURES
      1089 14 SIMEX EURODOLLAR Open High Low Sett Est Vol Op/Int Vol Sep 9! 93.52 9X52 9153 5W0 ***** 4162 Dec 91 92.93 92.94 92.92 92.93 2282 ***** 5740 Mar 92 92.83 92.83 92.80 92.81 1541 8475 1949 Jun 92 92.41 92.41 92.40 92.40 230 1226 547 Sep 92 92.03
      1,089 words
    • Article
      INTERBANK FOREX RATES
      393 14 Cross rates June 21 USS SS MS Dm Yen SFr AS NZS USS 1.7805 2.7850 1.8010 139.10 0.6148 1.5455 1.3063 1.7376 ->S 0.5616 1.5642 1.0115 0.7812 0.3453 0.8680 0.7337 0.9759 MS 0.3591 63.93 0.6467 0.4995 0.2208 0.5549 0.4691 0.6239 Dm 0.5552 0.9886 1.5464 77.23 0.3414 0.8581 0.7253
      393 words
    • Article
      MONEY MARKET
      521 14 Interbank rates s$ Bid Offer Overnight 5 1/4 5 3/8 1 month 5 11/16 5 13/16 2-month 5 13/16 5 15/16 "t-month 5 15/16 6 1/16 (>vernight m«klc s I SS Bid Offer 7 days 6 1/16 6 3/16 i month 5 15/16 6 1/16 2 months 6
      521 words
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  • COMMODITIES
    • Article
      Lock icon Wheat council chief sees big market changes
      356 15 Reuter LONDON The international grain market is undergoing major structural change, said Jean Parotte, executive director of the Lon-don-based International Wheat Council (IWC). Changes include a trend from state to private grain purchases, Gatt's efforts to liberalise world farm trade and the emergence
      Reuter  -  356 words
    • Article
      Lock icon Cocoa council talks continue over set-up of working group
      294 15 Reuter LONDON Council deliberations are continuing at the International Cocoa Organisation over the setting up of a working group to look into a new cocoa agreement. While the decision to establish a working party has been agreed in principle by consumers
      Reuter  -  294 words
    • Article
      Miners' higher offerings send KL tin lower
      849 15 REPORTS THE price of tin on the Kuala Lumpur Tin Market eased further to close eight sen lower at M$ 15.48 per kg yesterday due to higher offerings from miners. In line with the US$5 drop on the London Metal Exchange overnight, dealers
      849 words
  • Article
    PRICES
    1434 15 Rubber June 21 KAS (*»> hi hatis) S cents/kg Noon Close Int 1 RSS Prompt 147 00/148 OON 147.25/148 25N Int 1 RSS July 91 148 50/149 00 148 75/149 25 Int 1 RSS August 150.25/150.75 150.50/151.00 Int 2 RSS OP 147.00/149.00N 147.00/149.00N Int 3 RSS OP 145.50/147.SON 145.50/147.
    1,434 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      11 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page
      11 words
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      Page 15 Advertisements Column 2
      847 15 BUSINESS TIMES TELEPHONE: 730-3771/3772/3773 PAX: 734-4>tl la the Matter at tke Campaalea Act, Cay. M Aad la Ike Matter af FOOK KHIM PRIVATE LIMITED (la Members' Vaiaatary I iqiUaUrn) At an Extraordinary General Meeting of the members of the Company duly convened and held at 10 Pioneer Sector 1 Singapore
      847 words
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  • Article
    Ethnic resentment worsens in Indon business
    707 16  -  Maggie Ford reports on growing discontent over the division of the economic pie Maggie Ford JAKARTA Irritation is rising in the Jakarta business community over the failure of companies not run by ethnic Chinese to win a bigger share of business opportunities. The growing
    707 words
  • Article
    Marco Polo profit buoyed by first-half earnings
    254 16 BUOYED BY a strong showing in the early part of the year, Hotel Marco Polo managed to show a rise in earnings for its full year ended March 1991, despite the slowdown in tourist arrivals since the Gulf War. Because of a change
    254 words
  • Article
    Lock icon Decisive win for ruling party in South Korean elections
    335 16 Reuter SEOUL South Korea's "silent majority" voted for the status quo. handing President Roh Tae-woo's ruling party a whopping election victory yesterday in the first popular test of his three-year rule. Final returns for Thursday's municipal and provincial polls showed Mr
    Reuter  -  335 words
  • Article
    Debate on KL's 10-year plan ends
    143 16 KUAI-A LI.MPIR The debate on Malaysia's new 10year economic plan wound up in Parliament yesterday with politicians asking that special priority be given to poor and less privileged groups. The Second Outline Perspective Plan (OPP2) drew full support from all government backbenchers who spoke
    143 words
  • Article, Illustration
    Lock icon Berlin it is once again
    42 16 Celebrating Berliners carrying both the Berlin and German flags dri\e past the Kaiser Wilhelm Memorial Church in downtown Berlin on Thursday after the city was voted the seat for parliament and government. Renter picture Source: Reuter picture
    Source: Reuter picture  -  42 words
  • Article
    CP Telecom may yet have stake in 1m-line project
    459 16  -  From Michelle Rowe in BANGKOK MARKET ANALYSTS in Bangkok yesterday refused to rule out the possibility that CP Telecom Group recently selected by the Thai Government to undertake the two-million-line expansion of Bangkok's phone system would still have some stake in
    459 words
  • Article
    PM on official visit to Thailand from Monday
    364 16  -  By Shoeb Kagda PRIME MINISTER Goh Chok Tong leaves for a twodav official visit to Thailand on Monday to round off his trips to the five Asean countries since taking over the helm last November. The visit, which will reaffirm the close
    364 words
  • Article, Illustration
    Lock icon New Indian PM Rao names his Cabinet
    407 16 Reuter NEW DELHI New Prime Minister PV Narasimha Rao named a 14-strong Cabinet yesterday to deal with India's multiple crises, including caste and religious strife, separatist wars and an economy in serious trouble. In a surprise move. Mr Rao's chief rival to succeed
    Reuter  -  407 words
  • Article
    Lock icon Congress Party likely to attempt painful reforms
    340 16 Reuter NEW DEI 111 Emerging victorious from traumatic Indian elections, the longdominant Congress partv vmII he under strong pressure to take painful measures to reform a crumbling state-domi-nated economy, analysts said yesterday. Congress leaders say there are no easy options for India, staggering
    Reuter  -  340 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon To ban or not to ban the book?
      1359 17  -  Whatever the country or century we live in. there will always be groups of people who are offended by some book or other. Salil Tripathi on the never-ending battle over literary censorship Salil Tripathi WHENEVER books are burnt, men also, in the
      Photo by Chris Loh  -  1,359 words
    • STRAWS IN THE WIND
      • Article
        Editor-in-chef
        89 17 THE Puteri Pan Pacific Hotel in Johor Baru might have a Newsroom but it is more likely to have a chef than an editor. That's because The Newsroom is actually the hotel's cafe-brasserie. An advertisement in last week's BT said that you need privacy when "lying, gossiping and backstabbing
        89 words
      • Article
        Taking off the heat
        61 17 HFRE's an apology to end all apologies a little-known US magazine, Candis. recently published this C&C (correction and clarification): "In our March issue we inadvertently said terrapins should be kept in water at a temperature of 250 degrees Celsius. This should have read 25 degrees Celsius.
        61 words
      • Article
        Hello, it's Jasmine
        93 17 PUTTING an ad in the classifieds? Beware of strange callers named Jasmine. According to one colleague who was holding a garage sale. 'Jasmine" rang his home, wanting to know his name and if he was a Singaporean. When he demanded to know why, she replied "I want
        93 words
    • OPINIONS
      • Article, Illustration
        Queueing up, feeling down
        783 18  -  There must be a better way to register children for nursery school, sighs Dexter Lee, who spent a night queueing outside a PA kindergarten Dexter Lee The writer is a BT journalist "Once uptm a time, I thought parents were silly to queue up overnight just
        783 words
      • Article
        Misunderstanding serves EC and Asean no good
        787 18  -  The recent EC-Asean talks show up irritants in their cooperation. Maggie Ford reports Maggie Ford I he writer is a Jakarta-based lournalist who contributes to HT WHEN 18 countries decide that they need to set up a meaningful relationship, it is perhaps not
        787 words
      • Article
        Let broking firms decide how to reward their staff
        595 18  -  LETTERS TO THE EDITOR Yeo Seng Kia THE Stock Exchange of Singapore recently passed directives to some broking firms against paying dealers who are on salary, a commission. This issue can have serious impact on the industry, and should be examined
        595 words
      • Article
        SES scripless system will not affect status of shareholders
        286 18  -  Peter Chia Public Affairs Manager Stock Exchange of Singapore WE REFER to Mr John Ang's letter "How will SES scripless plan affect shareholders' status? (BT June 15-16). Shareholders' status will not be affected under the SES book-entry (scripless) settlement system as
        286 words
    • SPORTS
      • Article, Illustration
        Lock icon Faldo steals the honours
        432 19 Nick Faldo capitalised on perfect early conditions to share the first-round lead in the Irish Open AFP KILLARNEY. Ireland World number three Nick Faldo grabbed the honours in a private duel with US Open champion Payne Stewart here on Thursday by shooting a course record to
        AFP  -  432 words
      • Article
        Lock icon Green shoots course-record 64
        436 19 AP WILMINGTON, Delaware Tammie Green had five of her seven birdies on the first nine holes, shooting a coursc-rccord 64 and taking a three-stroke lead in the LPGA McDonald's Championship. Green, a five-year pro whose only victory came in the 1989 duMauricr, birdied the first four
        AP  -  436 words
      • Article
        Lock icon It's still stressful at miniature Wimbledon
        512 19 Reuter LONDON Jimmy Connors was mighty relieved to be elsewhere and Bjorn Borg simply could not face it. But for 24 grateful players, a leafy corner of London this week has been a passport to tennis heaven. Few people admit to enjoying the Wimbledon
        Reuter  -  512 words
      • Article
        Lock icon Sanchez-Vicario proves she's not cowed by grass
        341 19 AFP EASTBOURNE, England Arantxa Sanchez-Vicario, the Spaniard who once said that grass courts were only for cows, exorcised her fears here on Thursday with a crushing victory over American Pam Shriver. Shriver an expert on the surface, although she is not the force
        AFP  -  341 words
      • Article, Illustration
        Lock icon Ivanisevic storms into semis of Manchester Open
        350 19 AFP MANCHESTER Temperamental Yugoslav Goran Ivanisevic came within a tantrum of being thrown out of the Manchester Open here on Thursday as he stormed into the semi-finals. The volatile 19-year-old second seed lost his temper in his quarter-final against German qualifier Arne Thorns.
        AFP  -  350 words
      • SIDE LINES
        • Article
          Baker-Finch equals course record but...
          123 19 WILLIAMSBURG, Virginia lan Baker-Finch matched the course record with a 9-under-par 62 in Thursday's opening round of the Anheuser-Busch Golf Classic. Then he lamented about what could have been. "I missed five other birdie putts from 10 feet in." Had he made three of those,
          123 words
        • Article
          Sweet deal may go through
          89 19 LONDON A group headed by electronics millionaire Alan Sugar and team manager Terry Venables is poised to take control of English FA Cup holders Tottenham Hotspur. The Sugar-Venables deal seemed certain to be accepted by the Tottenham board after media magnate Robert Maxwell dropped plans
          89 words
        • Article
          Jaguar gets a warning
          139 19 LE MANS, France Mercedes fired a warning to Jaguar when Frenchman Jean-Louis Schlesser claimed the fastest lap time at the end of Thursday's fourth and final practice for this weekend's Le Mans 24-hour sportscar race. Schlesser, sharing the wheel with Germany's Jochen Mass and Frenchman Alain
          139 words
        • Article
          Kenya springs a surprise
          83 19 JOHANNESBURG Kenya's decision to end its 20-year sports boycott by inviting South African athletes to the Mombasa marathon on July 7 has surprised officials here. Sam Ramsamy, chairman of the Interim National Olympic Committee of South Africa granted provisional recognition by the lOC, said the invitation
          83 words
        • Article
          Tyson living it up
          134 19 NEW YORK Donovan "Razor" Ruddock does not care that Mike Tyson is partying all night. He is sticking to the game plan for the upcoming June 28 rematch in Las Vegas. Said the Canadian heavyweight, 'I'm just trying to focus on what I've got to do
          134 words
    • EPICURE
      • Article, Illustration
        Command performance
        554 20  -  Salil Tripathi savours the flavours of India at Cafe Palm Salil Tripathi WE ARE sitting by the window, sipping a tall glass of thick, cool sweet lassi (or sweet butter-milk). 1 here are pieces of pistachio layered liberally on the top. We are given a straw, but real
        554 words
    • LIFESTYLE
      • Article, Illustration
        Who can do without a good sommelier?
        689 21  -  N K Yong laments hotels' neglect of that special breed the sommelier N K Yong A MAJOR hotel advertised recently for a sommelier, offering a salary of $980. And it got me thinking. I know that chauffeurs command at least $800 before they
        689 words
      • Article, Illustration
        Lock icon A close-up look at the birds and the beasts
        1024 21 After going out of fashion for a long time, Victorian taxidermy is making a comeback NYT Most people who collect Victorian taxidermy, the stuffed birds and beasts of the wild so popular a century ago. insist there is nothing unusual about
        NYT  -  1,024 words
      • Article, Illustration
        China sweeps all three titles at bridge contest
        351 21  -  By Sybil Holloway BRIDGE CHINA monopolised all three titles for the Open, the Women's and the Youth Team events in the Far East Bridge Championships which took place this month in Guangzhou, China. Second and third respectively were New Zealand and Australia
        351 words
    • PURSUITS 1
      • Article, Illustration
        The Age of Discoveries comes to old Seville
        767 22  -  Don't forget to include Spain in your travel plans next year, says Nirmal Ghosh Nirmal Ghosh IT WAS shortly after Spain joined the European Community in the early Eighties that the world realised it had a new economic power on the global
        767 words
      • Article, Illustration
        Town-planning with people in mind
        690 22  -  A German urban planner tells Yeep Wai Ban about the need to make buildings more user-friendly Yeep Wai Ban WHEN A well-known German urban planner and architect came to town last month for a public forum entitled "Art in the Environment", many waited with bated
        690 words
      • Article
        Foreign themes at the stores
        804 22  -  The big stores are banking on country identification to bring in more shopping bucks. But such promotions are anything but easy to put together. Yeep Wai Ban finds out what's involved Yeep Wai Ban PASSIONE per L'ltalia. Enchanting Indonesia. Sketches of Spain. These are the
        804 words
      • Article, Illustration
        Where tradition keeps up with the times
        1242 23  -  At Patek Philippe, watches are made from scratch and 'quartz' is a dirty word. Samuel and Jaime Ee, in Geneva recently, visited the company that has always pitched itself at the expensive market. Samuel and Jaime Ee THE JAPANESE may have their Casios
        1,242 words
      • Article, Illustration
        A dying breed of master craftsmen
        690 23 CHRISTIAN Thibert is a jazzy dresser, drives a BMW and doesn't seem to enjoy the company of milk cows. Being an engraver with Patek Philippe may not qualify him for celebrity status within his community, but it does within his company. That's because engravers
        690 words
      • Article, Illustration
        Springtime in picturesque Geneva
        926 23  -  The best way to see this city is to walk its streets, writes Jaime Ee Jaime Ee ONCE UPON a time there lived a mangy German Shepherd named Whoopee, who lived in a tacky little cafe tucked into a side street off Geneva's Place Longmalle. Whoopee
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    • PERSONAL FINANCE & INVESTMENT 1
      • Article
        Banking, shipping and marine sectors poised to shine
        565 24  -  By Chew Eng Han AMONG the various sectors of the economy, the banking, shipping and marine industries are likely to shine above the rest this year, says Baring securities in their in-house publication Singapore Stock Market Review. This trend has been recently
        565 words
      • Article, Illustration
        Pacific Carriers steering itself to new heights
        891 24  -  Astute management and perfect market conditions endear PCL to Chew Eng Han Chew Eng Han Analysts rate Pacific Carriers Ltd's management as one of the most astute in the shipping industry, and for good reasons too. At a time when the world bulk
        891 words
      • Article
        Warrants: premiums and gearing
        1061 24 Prices as at 21.06.91 Conversion terms Premium/ Expiry —t H (discount) i Amount Optional** using issued Company (mU Wrts Share Loan Conv Exer Lnstk Cash Cash Loan Gearing Date Mths units) stock ratio price nom Stk Left value I Burwiti 115 2 0 055 0 165
        1,061 words
      • Article, Illustration
        Market is weak but strong support seen at 1,450
        546 24  -  CHART By Najeeb Jarhom The writer is research manager at Fraser Roach Co SINCE the Gulf War rally began on Jan 17, the Straits Times Industrials Index (STII) has undergone three minor corrections, including the current one that has turned out
        546 words
      • Article, Illustration
        Lock into yields with bonds
        632 24  -  By Chew Eng Han Currency investors are naturally perturbed when interest rates of high-yielding currencies 1 fall, resulting in lower returns j on their currency deposits. The sterling. Australian dollar and New Zealand dollar, all one-time hot favourites, have lost much of their lustre after
        632 words
      • Article
        Where to put your money
        518 25 3 mth fixed deposits Security Pacific National Bank 5.25 Industrial Commercial Bank Focal Finance Ltd o 5.125... Chung Khiaw Bank 5.0 Far Eastern Bank 5.0 International Bank of Singapore Ltd 5.0 Lee Wah Bank 5.0 OCBC Finance 5.0 United Overseas Bank 5.0 United Overseas Finance
        518 words
      • Article, Illustration
        Fixed deposit rates rising steadily
        627 25  -  Wondering where to put your money? Diana Oon and Kooi Cho Teng sniff out the best rates in town Kooi Cho Teng Diana Oon Fixed deposit rates are once again on the rise as banks and finance companies race to keep their customer's deposits. Anyone
        627 words
      • Article
        Goodbye to the recession, hello to the recovery
        919 25 Despite the present lull, the bull is alive and kicking JOB ROLLS are growing, factory lines are picking up speed, and Americans are not only flocking to the malls but they're spending their money, too. The wrenching recession, which officially got under
        919 words
    • JOBS
      • Article, Illustration
        The 'how-to-make-a-million' man
        968 26  -  Harish Mehta asks self-made millionaire T Paul Meyer a few pointed questions about making it in a world which seems to work on the Gordon Gekko principle that 'greed is good' Harish Mehta PAUL Meyer likes to breed ostriches. But his main business is telling people how
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      • Article, Illustration
        EXECUTIVE MOVES
        379 26 Mr Ricky SC Cheong has been appointed Managing Director of Dynamar Computer Products (Pte) Ltd, a wholly-owned subsidiary of Dynamar Holdings, based in Singapore. Prior to his recent appointment he was Director of Sales and Marketing for Olivetti Singapore, and before that he held a similar position with
        379 words
      • Article
        Expats facing tougher hiring policies
        803 26  -  S N Vasuki on changing company policies towards the hiring of expatriates S N Vasuki RECENT reports that Australian managers, hard-hit by the recession at home, are seeking Jobs in Singapore highlight the Republic's pre-eminent position in the region as a hub for multinational corporations
        803 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1077 27 City Flight ETA Flight ETD Adoiaide QF081 2000 SQ227 2200 QF082 2200 Amsterdam SQ19 0755 SQ24 0100 KL837 1255 KL837 1415 SQ38 2145 KL838 2240 Aacfcland NZ21 1820 NZ22 1930 SQ338 2030 BA12 2155 Bandar Sari B1421 1105 SQ182 0915 Bagawan SQ181 1410 BI422 1205 BI429
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    • THE TRAVEL PAGE
      • Article, Illustration
        War and very little peace
        784 27  -  POSTCARD FROM RUSSIA By Serge SchmeMann AT Zelenograd, a massive mound of sculptured earth faced with a stone monument marks a common grave for thousands of Soviet soldiers who blocked the Nazi advance on Moscow here in December 1941. There are always fresh flowers and
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      • Article
        MONEY CHANGER RATES
        152 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.352 1.382 Canadian dollar 1.545 1.575 NZ dollar 1.012 1.042 Sterling pound 2.8800 2.9100 US dollar 1.7720 1.7820 Local dollars to 100 units of foreign currency Austrian schilling 14.00 15.00
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      • TRAVEL SLICES
        • Article
          Luxury train from Singapore to Bangkok
          182 27 ORIENT-EXPRESS HOTELS, operator of the Venice Sim-plon-Orient-Express, plans to introduce a luxury train service in South-east Asia late next year. The Eastern Oriental Express will make one round trip a week between Singapore, Kuala Lumpur and Bangkok. The 1920 km one-way journey will take
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        • Article
          Enough rooms for all at Seville
          161 27 SOME VISITORS to Expo '92 in Seville next year may have to stay two and a half hours outside of town, but there will be rooms for everyone, aeeording to Emilio Casinello, president of the State Corporation for Expo '92. A total of 75,000
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        • Article
          Tighter security for paintings
          98 27 THE COLLECTION of Venetian paintings assembled in the Galleria Accademia in Venice has become such a popular attraction that for security reasons, the museum has been forced to limit the number of visitors at any one time to 180. The Galleria Accademia, in the former church
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        • Article
          Chinese complaint bureaux
          68 27 THE National Tourism Administration of China has just added complaint and information outlets in eight more provinces, says the Arrival magazine. They are Yunan (0871) *****; Sichuan (028) *****; Jiangxi (0791) *****3; Henan (0371) *****4 or *****3; Shandong (0531) *****; Hebyi (0311) *****9; Heilongjiang (0451) *****1/331; and.Jilin
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        • Article
          Taipei hotels put off rate rise
          56 27 GOOD NEWS for travellers to Taipei. Arrival magazine reports that hoteliers there have decided not to raise room rates for at least a year, following a 25 per cent drop in average room rates since 1990, due to the opening of the Grand Hvatt.
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      • Article
        WORLD TRADE EXHIBITIONS
        225 27 Duration Title Venue Organiser Td June 25-29 International Brtislava. Inchcba Company *****1111 Chemical Fair Czechoslo- Limited vakia July I Kuwait: Hilton Asian Investment **********8 Opportunities In International: Conferences Reconstruction Jakarta (Pte) Ltd July 2-6 International Buenos Aires CAMIDA-lndustr- *****1820 Exhibition of tal Chamber of Sport ware Sport
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    • TIME OFF
      • Article
        THEATRE
        173 28 Les Grands Ballets Canadiens One of the most outstanding performing arts companies in Canada will be in town, performing works by Balanchine, Petipa, Nacho Duato, James Kudelka and Kurt Jooss Kallang Theatre. Today only at Bpm The Nose A Singapore short film about a young man who wakes up
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      • Article, Illustration
        EXHIBITIONS
        189 28  -  Compiled hy K Jayanti Steps After... The exhibition will feature prints by Elena Yco. It represents the artist in search of New Directions. The Substation Gallery. July 4-10. !am-9pm. Admission: Free Decor Arts International Latest collection of mixed media prints and collages are on display. Depth and richness arc
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    • Article, Illustration
      CINEMA
      660 28 Awakenings. Robert dc Niro does some hand and leg work and gets himself an Oscar nomination in this movie based on a true story about a catatonic case and his shy doctor. Robin Williams is the introverted physician who searches indefatigably for a cure and finds it, only to
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  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      386 17 The way of turning shares into y J HONG LEONG FINANCE LIMITED SINGAPORE FINANCE LIMITED I *****33 *****33 li HLflgl? Sf (P' B Today, one watch reigns supreme. Of:>M iWr^--' Lg( <T^Bjß W°\ r'l'wm bi 1 1 "V J 11 JMmt I 'Itrj-thiu Royal Oak for Lmhes and Men in
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  • Page 18 Advertisements
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      Page 18 Advertisements Column 1
      163 18 VBT ipooi rv r\ r\ rachmaninov f\ r\ n Piano Concerto No. 2 Kh.p«od> on Th«m« of Pacini J«nA Jmmlo BudapMt Symphony Orehmtra (•yorgy l«h«l y y y 'i« rw y y y RAOIMANFNOV J Piano Concerto No. 2/Pa(*rui)i Rhapaody icno Jmdn/Rudapeit Symph<my/(!y(*gy Ixhel •———8.*****7 J NAXOS Compact Discs Superb
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    • Advertisement
      Page 18 Advertisements Column 2
      26 18 BT welcomes letters from you. Address them to: The Editor, Business Times, Times House, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers.
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  • Page 19 Advertisements
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      Page 19 Advertisements Column 1
      50 19 SIM©APORj Sembawang tomorrow's superstar MNC? |TT-^1 Batam s b '9 believer C '4.'"' The tempting food business "I.A T'• Scotts group's growing pains rVßiKjri jdHKI h 1 Charcoal sweat-ships ,n search of a green life pP' JSh2H Investment spotlight on Jardine Matheson and United Industrial Corporation jy JUKE 1991 $4
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  • Page 19 Miscellaneous
    • Miscellaneous
      Page 19 Miscellaneous Column 1
      75 19 DOONESBURY BY GARRY TRUDEAU YOU KNOUJ, ONE OF MY FAVORITE HELL. ININ6 00NPIHONS INKUUIAIT THE PtMANP fOR SEATS IS ii/OW! CAN UJt SPOTSINKUWATTISTHEPOPtILAR ARE PEPICRABIE! SOLOTS OF US 5O HEAVY, HJE HAVE MATCH YOU INTERNATIONAL AIRPORT! LET'S KUWAITI BUSINESSMEN FLY IN, DO %TO OFFER PERSCNAL i!| BPJB6ONB 7 AO<ANCMCIN6M&£NG£R OUR
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  • Page 20 Advertisements
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      Page 20 Advertisements Column 1
      200 20 WHERE TO WINE, PINE AND ENTEBTAIN WHERE TO WINE, DINE AND ENTEBTAIN WHEBE TO WINE, DINE GINGERBREAD AT CONNECTIONS MEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO 5.00 PM. HAPPY HOUR<Sf DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. wC. ING'
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    • Advertisement
      Page 20 Advertisements Column 2
      393 20 ***************11 PLUM'S ********************1 l SEAFOOD EXTRAVAGANZA June 14th 30th 1991 The ocean's catches are yours for the picking at Plum's. From clams to crabs, from squid to scallops, the choices are endless. In addition, there are even double return air tickets with accommodation at our sister properties in Hvatt Regency
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    • Advertisement
      Page 20 Advertisements Column 3
      334 20 The Ist Jigsaw Puzzle Competition 26 May-30June It's a giant battle of wits. A real brain-teaser! Five consecutive Sundays of fun jointly organized by Plaza Hotel and The Puzzle Shop. Join in the children's Individual Event (up to 1 1 yrs) or the Team Event (open to all). For just
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    • Advertisement
      Page 20 Advertisements Column 4
      257 20 m W m Hfc "r m*AI That s our prediction tor you when you step into (he Kasha h as *rrr~ vc >in^s take vou down memory lane with golden hiU and evergreens. Kvet>' night ts nostalgia night. You'll be mesmerised. W'nriAay* 9pm —2am VrtinA. V 1— lfhg W'"" -V4p»
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      236 21 AND ENTERTAIN Family Fun Brunch Make it a family outing with a scrumptious Sunday buffet brunch at Hubertus Grill. A whole array of choice delicacies for adults. Cartoons, toys and fun for the kids. Adults $31-}-+ Kids $19+ A ANA HOTEL SINGAPORE There's Nothing Set About Our Set Menus. ft&
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    • Advertisement
      Page 21 Advertisements Column 2
      21 21 KEEPING CLASSY COMPANY LISTEN TO WINDHAM HILL COMPACT DISC CASSETTES DIFFERENT FROM THE REST Marketed by PONY CANYON SINGAPORE Tel *****92
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  • Page 25 Advertisements
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      Page 25 Advertisements Column 1
      495 25 EXPRESS SHARE LOAN The eoAieAt way of turning shares into catA m. t/te Point* FREE GIFTS* Quick and Easy. Get instant cash for your shares —f over the counter at any of our 28 branches r 6 j 1 PWes Solar Calculator Loans from $2,000 to $50,000 7 i txjffle
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  • Page 25 Miscellaneous
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  • Page 26 Advertisements
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      Page 26 Advertisements Column 1
      185 26 DHL IN THE NEWS Advertisement DHL MOVES TO AIR EXPRESS CENTRE A new $13 million high state-of-the-art automated staff strength tech building at No 1, Tat features including a two-tier With all these latest Seng Drive, is DHL's new Air conveyor belt for its sorting developments, DHL will be Express
      185 words
    • Advertisement
      Page 26 Advertisements Column 2
      132 26 An Outstanding Business Opportunity in Mariceting of Motivation, Sales and Management Training Programs. World's No. 1 Author: Paul J Meyer is the world's leading authority in the field of motivation, management, goal setting and self-improvement. The World Leader: His belief in the unlimited potential of people has Dr Paul J
      132 words
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  • Page 27 Advertisements
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      Page 27 Advertisements Column 1
      42 27 Vaasa matter? Don't you know that Finnair flies to 16 countries in Europe? With a superb twice-weekly service from Singapore to Helsinki and then on to everywhere from Vaasa to Vienna. Call *****77 for details. We know Kurope fnjin start to PinnLsh
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    • Advertisement
      Page 27 Advertisements Column 2
      5 27 CHARTPOINT in BT every Saturday
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    • Advertisement
      Page 27 Advertisements Column 3
      38 27 Is There a New Home on Your ra7 Horizon?^ >Y' 1 Urban or suburban...wherever you,'re looking for a home, aparttnent r«r i or condo...shop in the Properties section of c j*^ H [flit The Straits Times Classified! 737-n«
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  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      311 27 1 Not even a Stock Exchange employee but a I I I I worker (3-6) LJ— 9 Unprincipled scholar re- I I I I turns for the exam (6) ■■l 1^ 10 In the country, head of I I I I house is right to vote (9) ■B~ 11 Show
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      167 27 Asia-Pacific Hi/Lo* Cond. Auckland 15/10 Showers Bangkok 34/26 Showers Beijing 31/18 Sunny Brunei 33/25 Fair Hongkong 30/24 Showers Jakarta 32/23 Fair Kuala Lumpur 33/25 Fair Manila 30/25 Showers Melbourne 16/13 Sunny Perth 22/19 Cloudy Seoul 29/18 Fair Sydney 19/10 Sunny Taipei 34/26 Showers Tokyo 28/21 Showers Wellington. 16/09 Sunny Europe
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      58 27 Goo\? we^veNs—l we would voo hoo TA JT 1k I cTCII? 3!iSS N MNSGICI... UNLESS LeTrtf^. MJSS a ft»KT OUT THE V MAG 1 J IweHCN? TO MESSRS. ...ONE. OF MV iT£MS yTOO GUM **D PAMCLS.... F*OM SED W0U.... IXTfER DATeD JAN. ,c w J i, V MiRW'e.D V iTTS^LA
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  • Page 28 Miscellaneous
    • Miscellaneous
      Page 28 Miscellaneous Column 1
      1900 28 TODAY'S TV mmarfTWTWtKM KTfTKnrnTTH H£SKSi MfrflP 1030 Hari Raya Adha 1200 PMNews(M) The Accidental Tourist, 30pm'sBC? 611 Gab,es ll| l 12.15 Entertainment proA moody, but excellent mov- Remember those long-ago l I 141 l*° Wama Han. VVjrnj ie based on Anne Taylor's stories that had us glued to f i
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      614 28 MOVIES ON TV Children on the Island, Mon, Her Alibi, Wed, 9.30pm, SBC 5 10.30pm, SBC 12 After his post-natal success One of those "how many ob- with Three Men and a Baby, stacles can you overcome" Tom Sellcck aims a little dramas. Life for a winsome higher this time,
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