The Business Times, 22 January 1994
1994-01-22
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The Business Times
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Title Section13 1994-01-22 1 Business Times MITA(P) 010/12/93 Weekend Edition, January 22-23 1994 WE KNOW ASIA 75*13 words
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527 1994-01-22 1 K P Nayar, Shiv Taneja - By K P Nayar, Shiv Taneja THE Indian government has set the stage for economic talks between Singapore and India by allowing foreign investment in property development, a move that has been welcomed by Singaporean businessmen. In a policy change decided on527 words
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334 1994-01-22 1 R Sivanithy - By R Sivanithy SINGAPORE Four of the region's five stock markets ended the week firmer yesterday, while the Philippine market finally succumbed to profit-taking after two days of strong rises. In Singapore and Malaysia, trading was helped by the easing of restrictions by334 words
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Article, Illustration551 1994-01-22 1 Anthony Rowley - From i Anthony Rowley in TOKYO JAPANESE Prime Minister Morihiro Hosokawa lost a crucial parliamentary vote yesterday on his political and electoral reform bills but he said he would not resign or call snap elections. "I am not considering such a course," he551 words
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445 1994-01-22 1 Catherine Ong - From Catherine Ong in HONGKONG HONGKONG legislators yesterday voted overwhelmingly to support the government's request for more funds to keep up construction of the territory's controversial new airport. Over objections from China, the Legislative Council Finance Committee voted 38-2 to give445 words
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418 1994-01-22 1 Teh Hooi Ling - Ur Teh Hooi Ling SINGAPORE Hardware stockist Hup Seng Huat (HSH), the first main board listing this year, will offer 70 million shares to the public at about SO to 60 cents each today. The issue, which is418 words
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Article67 1994-01-22 1 Reuter NEW YORK After a latemorning bout of futures-linked programme selling, US blue chips moved higher at midday yesterday but failed to match the session's highs. But as blue chips maintained solid footing, the rest of the market lagged, continuing a pattern seen all week.Reuter - 67 words
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67 1994-01-22 1 Reuter THE HAGUE UN Secre-tary-General Boutros BoutrosGhali said yesterday he would approve the use of air power in former Yugoslavia if so requested by his special representative there, Yasushi Akashi. "Until now I have never received any request to use air power.Reuter - 67 words
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84 1994-01-22 1 Reuter optimistic on economy BONN The German government, in its 1994 annual report, forecasts growth in west German gross domestic product at 0.5 to one per cent in 1994 and says the whole country should show growth of one to 1.5 per cent. The governmentReuter - 84 words
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Article, Illustration106 1994-01-22 1 Stack market indicts Fitter CkMBt ST1I 2.281.73 +22.45 KLSE Composite...1.063.76 +13.74 Nikkei 19.307.43 +123.51 Hant Seng 11.459.37 ♦194.53 SET Index 1.408.46 +10.16 Jakaita Composite ...585.77 -7.17 CLSA China B 1.287.41 -16.65 AM All Old -.2.250.3 -15.9 FTSE 100 3.484.2 +14.2 Friday Preriwn I pa cWm Do* Jane* 3.901.53106 words
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Page 1 Advertisements
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Advertisement33 1994-01-22 1 Lifestyle Cover Story: el i Hard lesson for greenhorns *fl H W Business bigwigs head for New Delhi, Page 4 CWT, Inno-Pacific team up for India venture, Page 7 Fall reports, Pages 12-1633 words
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Advertisement9 1994-01-22 1 Higher interest rates el 4 What should you do?9 words
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Advertisement329 1994-01-22 1 Hock Lock Siew: Pg 7 L J Hoteliers who lease out F&s&pixe\ >; *M ■> t »>* > t. -J v One of the great designs of this centukv: And probably the next :< 76* ADyu/ Oak, band-made and individually numbered with ultra tbin quartz movement, water-resistant to 5 aim329 words
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Advertisement10 1994-01-22 1 ylovie review: el 6,7 Passion in an age of innocence10 words
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Advertisement46 1994-01-22 1 Spin Nms 2 fponSraa* 7 J feronl dm 3,4 fmmI 9 WkWNms Si mmt^k f tt^mm Grnmaa 10 OpNom Bi SMK/COTMOMCS U (mm JUO DM 12 TV/btatyH E112 13 Starts ELS Oot/KLSE. SES U-lt* l«»«CI%tt— Trt 1I007W2S77 F« 7444a»f I «T UNavM Ttf *****11 Fa 733S271 <►%46 words
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SINGAPORE NEWS
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NEWS ROUNDUP
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113 1994-01-22 2 US-BASED real estate giant ERA International is publishing its fifrst global property guide in Singapore. And the First edition of the ERA Global Excltuives magazine featuring properties from the US, Japan, Indonesia, Thailand, Mexico, France, Taiwan, Sputh Africa and Singapore is available free113 words
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139 1994-01-22 2 THE Ministry of Home AfTairs said last night that the police would not consider any future public entertainment liccncc applications for staging "performance art" without script from Fifth Passage. The visual arts group was in the news recently when an artiste snipped off his pubic139 words
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36 1994-01-22 2 McDONALD's Restaurants has donated $20,000 to the Singapore Polytechnic's product and process research and development programme for students interested in food-related research projects. Details of the programme will be announced later.36 words
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Article53 1994-01-22 2 IN YESTERDAY'S report "HDB ofTers Keat Hong shops for sale", we were wrong in saying "Unlike other HDB shops, the buyers have to make their own financing arrangements." On the contrary, like other HDB shops, the buyers have to make their own financing arrangements. We are sorry53 words
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450 1994-01-22 2 Schutz Lee - By Schutz Lee GOVERNMENTS in the region do not share the view expressed in media commentary that China's attraction to ethnic Chinese businessmen has drawn investments away from other countries. Home Affairs Minister Wong Kan Seng said yesterday. "Businessman everywhere450 words
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Article, Illustration290 1994-01-22 2 FRENCH Trade Minister Gerard Longuet yesterday announced plans to set up a French business centre here this year, saying he saw Singapore as a base for small and medium-sized French enterprises to do business in the region. The centre, expected to290 words
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355 1994-01-22 2 SALES of residential and commercial sites by the Urban Redevelopment Authority rose 25.3 per cent to reach $557.75 million in the financial year to March 31, 1993. Eleven sales involving 65 sites totalling 43 ha were launched during the year, the URA355 words
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287 1994-01-22 2 CIVIL SERVANTS are relieved after hearing the government's explanation and reassurance that they will not lose out under the revamped pay and medical benefits, labour union chief Lim Boon Heng said yesterday. And to ensure that individual civil servants are287 words
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Page 2 Advertisements
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Advertisement308 1994-01-22 2 Sound, Solid Secure J* m i V p o v^ x^v\99 4 10 lU-^T\ l"'**'■»■ »11 I •a we believe a substantial portion of your savings should be placed in investments which are Sound, Solid I The Asia Life CPF Approved Plans Action Form I Secure. That's why we think308 words
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Page 2 Miscellaneous
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Miscellaneous540 1994-01-22 2 CRYPTIC CROSSWORD I Fail —or pass by mistake (8) ——LbJ—|i^— —4[^ —UJ—" Forced relations the publie on the disruptive side (6) j—^ 9 Small traveller who's prepared 10 Innings closed as quickly as possible (3,3) I I I I I 12 Applies for training (9) 13 Fowl may be seen540 words
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THE REGION
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530 1994-01-22 3 Bloomberg Business News, AFP BEIJING The US will provide technical assistance for China's bold programme of tax, banking, securities and trade reforms. Treasury Secretary Lloyd Bentsen said before leaving Beijing yesterday. Mr Bentsen left, however, having gained no assurances from ChinaBloomberg Business News,; AFP - 530 words
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Article, Illustration379 1994-01-22 3 Reuter BEIJING US Treasury Secretary Lloyd Bentsen looks set to deliver a strong message on trade to Prime Minister Morihiro Hosokawa in Tokyo tomorrow but admits it will not be easy getting the Japanese leader to listen. "It's tough," MrReuter - 379 words
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318 1994-01-22 3 Reuter KUALA LUMPUR Malaysia yesterday denied allegations by British opposition politicians a £1 billion (552.4 billion) arms deal five years ago was linked to aid for a controversial dam project. "Nobody is helping anybody," Energy Minister S Samy Vellu toldReuter - 318 words
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259 1994-01-22 3 Reuter MANILA The Philippines yesterday ordered an investigation into claims a huge gold hoard amassed by former president Ferdinand Marcos is in storage in Switzerland. "1 have just created a team to check into the veracity of these reports," said Magtanggol Gunigundo. headReuter - 259 words
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177 1994-01-22 3 Reuter JAKARTA Malaysia's Prime Minister Mahathir Mohamad will attend the second summit meeting of the AsiaPacific Economic Cooperation forum in Jakarta later this year, the official Antara news agency said yesterday. Visiting Malaysian International Trade and Industry Minister Rafidah Aziz, quoted by theReuter - 177 words
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404 1994-01-22 3 AP TOKYO Despite the yen's steep appreciation, Japan's overall trade surplus hit a record U*****.40 billion (SS 192.6 billion) last year, up 12.9 per cent from USS 106.63 billion the previous year, the Finance Ministry said yesterday. With the US, Japan'sAP - 404 words
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ASIA NOTES
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Article88 1994-01-22 3 AFP JAKARTA Indonesian Armed Forces Commander General Feisal Tanjung has begun to reshuffle the top brass, appointing new incumbents to two of the most influential posts, it was reported yesterday. The military daily Angkatan Bersenjata said Gen Tanjung on Thursday appointed the governor of theAFP - 88 words
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Article94 1994-01-22 3 Knight-Ridder HONGKONG Hongkong's annual inflation rate, as measured by the consumer price index (A), was 8.6 per cent in December, up from 8.4 per cent in November, the Census and Statistics Department said in a statement yesterday. A faster increase in food prices, particularly in freshKnight-Ridder - 94 words
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Article91 1994-01-22 3 AFP JAKARTA An earthquake with a magnitude of 6.8 on the Richter scale and centred in the Moluccan Sea yesterday shook eastern Indonesia, killing one person and injuring 40 others*, provincial meteorological officials in Ambon said. The earthquake. which struck at 022S GMT killed oneAFP - 91 words
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88 1994-01-22 3 AFP HANOI Vietnam and the US will discuss here for the first time releasing each other's assets which were confiscated or frozen in 1975, the year the South Vietnamese regime fell, officials said yesterday. "Vietnam and the United States are in the process ofAFP - 88 words
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319 1994-01-22 3 Reuter BEIJING China's urban inflation rose in December because of widespread panic buying, and for the whole year was 19.6 per cent, nearly double the 1992 level, official media reported yesterday. The Economic Daily quoted figures from the State Statistical Bureau (SSB)Reuter - 319 words
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Page 3 Advertisements
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Advertisement12 1994-01-22 3 China promises US it will let foreign banks do yuan business, Pg912 words
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Advertisement647 1994-01-22 3 sO OHtSO 'HAILAHB *0* 6 /f. [GuSetftc#*) LIMITED Incorporated in Singapore NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Twelfth Annual General Meeting of the Company will be held at the Malaysia Room, sth Floor, Hilton Hotel, 581 Orchard Road, Singapore 0923 on Tuesday, 22 February 1994647 words
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REGIONAL FOCUS
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Article, Illustration1219 1994-01-22 4 Walton Morais, Nirmal Ghosh - PM Goh's India mission By Walton Morais, Nirmal Ghosh SINGAPORE Prime Minister Goh Chok Tong will leave for India tomorrow with a high-powered delegation on a mission that will start a new chapter in Singapore-India ties. The visit by Mr Goh1,219 words
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Page 4 Advertisements
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Advertisement46 1994-01-22 4 rraniuvs Hotline Productions Enquiries 348 5555 272 0037 CONCERT Tickets are available at all SI STIC outlets Forum The Shopping Mall. Scotts Shopping Centre, Rattles City Shopping Centre, Specialist Shopping Centre. Liang Court. Victoria Concert Ha*. Cotd Storage<WTC. Jel«a), Takash.rr»aya Level 4, Gmza Plaza (West Coast)46 words
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REGION/WORLD
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543 1994-01-22 5 Reuter MOSCOW Russia's day-old government has already given notice of a more conservative reform policy, promising to look for ways to keep ailing firms alive and use unorthodox methods to slow inflation. The industrial policy, outlined by Prime Minister Viktor Chernomyrdin at theReuter - 543 words
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313 1994-01-22 5 AP BEUING Labour costs for US companies doing business in China rose an average of 17 per cent last year but remain lower than in other Asian countries, according to a recent survey. The American Chamber of Commerce in Beijing contactedAP - 313 words
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317 1994-01-22 5 Reuter GENEVA The World Trade Organisation > (WTO), the Gatt's successor body, seems likely to come into being as early as Jan 1, 1995, six months earlier than previously planned, trade sources said yesterday. The global trade body still savouring the successfulReuter - 317 words
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445 1994-01-22 5 Bloomberg Business News TOKYO The Bank of Japan sees no clear indications that the Japanese economy is ready to recover from the economic recession, the central bank said in a quarterly economic outlook released yesterday. Capital investment and private consumption continueBloomberg Business News - 445 words
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Article, Illustration59 1994-01-22 5 Reuter WASHINGTON Just across the street from the White House, Washington's homeless struggled against the bitter cold, huddling under blankets on benches in Lafayette Park on Thursday. Behind them, Pennsylvania Avenue was emptied of traffic as city and federal governments wereReuter - 59 words
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319 1994-01-22 5 Reuter TOKYO The Ministry of Finance (MOF) is considering making it easier for Japanese banks to increase their special loan loss reserves to help them speed up problem loan writeoffs, ministry officials said. "We are considering being more flexible (inReuter - 319 words
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379 1994-01-22 5 Reuter BOMBAY India's commercial capital Bombay was closed for business yesterday by a strike called by right-wing Hindu militants opposed to renaming a university after a former leader of India's Untouchables, police said. Streets of the city of 12 million people were mostly deserted,Reuter - 379 words
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466 1994-01-22 5 Bloomberg Business News TOKYO In the clearest sign yet that Japan's vaunted lifetime employment system is cracking at the seams, Toyota Motor Corp is launching a hiring policy that could eventually put contract-based workers in 10 per cent of all new white collarBloomberg Business News - 466 words
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Article1500 1994-01-22 5 «l nil m no n»_ a& nm ro nm n> PlwM GA860 2000 SQ32S 1815 LH779 2359 AmMM KLS37 1540 KL844 0535 Mart* SQ989 1706 SQ990 0110 gg im f—. Mfea* SQ347 1730 0930 SQ347 173S M SQ175 1905 SQ176 1130 AmMm4 NZ21 1710 NZ36 00551,500 words
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THE WORLD
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455 1994-01-22 6 Reuter NEW YORK The United States is adopting a new trade strategy favouring 10 giant emerging markets like China and Mexico, counterbalanced by foreign policy concerns such as human rights and arms nonproliferation. a senior US Commerce official said on Thursday.Reuter - 455 words
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328 1994-01-22 6 Reuter OTTAWA Like a bad dream that will not go away for most Canadians. Quebec separatists have turned Canada's new parliament into a front-line trench in their campaign for the autonomy of their French-speaking province. The Bloc Quebecois, which won theReuter - 328 words
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Article, Illustration420 1994-01-22 6 AP, AFP WASHINGTON Marking his first anniversary in office. President Bill Clinton said on Thursday night that he had had a tough but rewarding year. He complained about the agonising confirmation process for presidential nominees and the distractions of partisan attacks. The president,AP,; AFP - 420 words
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334 1994-01-22 6 Reuter NEW YORK Privatisation, a successful strategy in the UK and other countries, could be the cure for a decaying infrastructure which slows US commerce and drives up the cost of goods and services, a top investment banker said on Thursday. CitingReuter - 334 words
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Article176 1994-01-22 6 Bloomberg Business News LONDON Britain's fourthquarter gross domestic product rose a seasonally adjusted, preliminary 0.7 per cent from the third quarter, the seventh consecutive quarterly increase, and climbed 2.5 per cent from a year earlier, the Central Statistical Office said yesterday. Excluding oil andBloomberg Business News - 176 words
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WORLD WATCH
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62 1994-01-22 6 Reuter CAIRO The Arab League would discuss lifting its boycott of firms with major business interests in Israel at a March ministerial meeting, US Commerce Secretary Ron Brown said after meeting Arab League secretary-general Esmat Abdel-Meguid on Thursday night. He said he had askedReuter - 62 words
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Article, Illustration51 1994-01-22 6 Reuter LONDON Virgin chief Richard Branson (right) and former trade secretary Lord Young play tug-of-war over Wimbledon footballer John Fashanu at the launch of their bid for the British National Lottery Operator's Licence. They claim they will raise more mo.iey for charity than rival bids.Reuter - 51 words
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Article33 1994-01-22 6 Bloomberg Business News LONDON The British government will bring forward a strategy for British industry in the first coordinated attempt to promote competitiveness since 1979, The Times reported.Bloomberg Business News - 33 words
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SHIPS IN PORT
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Article411 1994-01-22 6 Vessd Voi No Berth Arrival Departure Vessel Voy Hi Berth Arrival Departure Jurats Port Thanakul 002 P01A atonpi* 2101/2300 0(w Fort una 02/94 M atoms* 22 01/2359 Thorawi 2 01/94 P01A atoms* 2101/2300 J Jessca 1 111 atonpafc 22 01/0500 Tanfcn 105 P02 atoms* 22.01/1500 Mm Karct411 words
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Article1695 1994-01-22 6 DELIVERY OF FCL IMPORT CONTAINERS IN PROGRESS fry ■> CwtMwrs nAtte SNp Voy N> Cwtjwn B»»antara 2 02S 94 20.01.94 0715 V* De Ves /431W COO<EST> 21.01.94 1500 Saron Trader 401N 20.01 94 0615 Anson 00/94N COO(EST) 21.01 94 0/00 Um Superb BS 064 20.0194 0860 losindo 11,695 words
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COMPANIES & MARKETS
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Article, Illustration315 1994-01-22 7 Sylvia Wong - By Sylvia Wong SINGAPORE Straits Steamship Land (SSL) has partnered Filipino retail tycoon Henjy Sy in its first property project in Manila. SSL said yesterday that with its sister company in the Philippines, Keppel Philippines Holdings, it would redevelop a two-hectare315 words
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298 1994-01-22 7 William Chia - By William Chia SINGAPORE Malaysianlisted Construction and Supplies House (Cash) is talking with Indonesian timber tycoon Prajogo Pangestu about buying some of his assets. Confirmation that talks are going on has come in a letter from Cash managing director Joseph Ambrose Lee to298 words
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170 1994-01-22 7 SINGAPORE Listed Tuan Sing Holdings has made another foray into property development in Shanghai through its subsidiary, Shanghai T S International Real Estate. Tuan Sing said yesterday it has acquired a residential development in the Xinxiang residential area for US$9.7 mil- lion (5515.4170 words
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770 1994-01-22 7 Conrad Raj - HOCK LOCK SIEW By Conrad Raj SINGAPORE Considering that many hotels these days are finding it hard going to turn in a decent rate of return from their food and beverage (F&B) outlets. Orchard Parade Hotel's770 words
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395 1994-01-22 7 Walton Morais - By Walton Morais SINGAPORE Listed Singapore companies CWT Distribution Ltd and Inno-Pacific Holdings Ltd have teamed up to enter India's warehousing and distribution market. The two companies yesterday announced the formation of a 60-40 joint-venture between a Singapore consortium and an395 words
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341 1994-01-22 7 Quak Hiang Whai - •i Quak Hiang Whai SINGAPORE LC Development, formerly known as Eu Yan Sang Holdings, has agreed to sell its proposed flagship property at Tanjong Pagar to the Hong Leong group for $97.23 million, thereby abandoning plans to use it as341 words
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Article, Illustration301 1994-01-22 7 Source: Bridge Info Performance of STII's Indox stocks Jan 21 Last Scmc Mx Stack sale Owe factarawm* (S) ($> Avimo 2.210 -0.070 1.42 -4.58 C AC 7.900 0.150 5.08 9.10 CWT J.140 0.100 2.02 6.54 Cerebos 7 300 -0 100 4.69 -6.54 FAN 16 700 0.200 10.74 13.07 GenMagSource: Bridge Info - 301 words
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COMPANIES
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COMPANY BRIEFS
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60 1994-01-22 8 SINGAPORE King's Hotel says it has received the stock exchange's approval to trade its merger and rights shares on the local bourse. King's Hotel and City Hotels Pte Ltd, both units of City Developments group, recently agreed to a merger. King's Hotel had also60 words
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Article98 1994-01-22 8 Bernama KUALA LUMPUR Broker codes will continue to be alloted to successful share applications (for counters under the Central Depository System) which do not have CDS accounts or a preferred broker code, the Kuala Lumpur Stock Exchange said yesterday. The KLSE Committee and MalaysianBernama - 98 words
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59 1994-01-22 8 Bernama KUALA LUMPUR IJM Corporation Bhd is to acquire a 50 per cent stake in OSW Properties Pty Limited of Australia for A$ 1 cash. An IJM statement here yesterday said the other 50 per cent stake in OSW Properties would be acquiredBernama - 59 words
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71 1994-01-22 8 AFP MANILA Telecom giant Philippine Long Distance Telephone Co (PLDT) has vowed to install two million new telephone lines in a US$5 billion (557.9 billion) expansion programme through 1998, a business daily said yesterday. The Business Star newspaper quoted PLDT President Antonio Cojuangco as sayingAFP - 71 words
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46 1994-01-22 8 AFP HONGKONG Hongkong's leading Chinese-language newspaper Ming Pao has reached an agreement to buy the controlling interests in the Chinese-language edition of Asiaweek, it was announced yesterday. The size of the stake or the sale price was not disclosed. AFPAFP - 46 words
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Article478 1994-01-22 8 Maaagart' prfcn Jan 22 24 Umbond+ 1.02 1.045 a United Cr Fund! 1.62 1.69 SWgnpOT® unit TniCt United Asia Fund 1.97 2.07* The Commerce 1.76 1.85 NTUC imam* The Savings Fund 1.65 1.73 i-™,, b~v1 Pnlicv 4 64 481 S pore Pro* Fund 0.73 0.77 Income Bond Policy «.M 4.81478 words
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337 1994-01-22 8 Claire Leow - By Claire Leow SINGAPORE Nasdaqlisted Creative Technology yesterday reported a net income of US$33 million (5552.5 million) in the second fiscal quarter ended Dec 31, up 48 per cent from the same period in 1992 on the back of strong337 words
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Article, Illustration266 1994-01-22 8 AFP TOKYO Japan's Sony Corp announced yesterday a new corporate structure with the establishment of three new groups and five new divisions to replace the 19 product and marketing groups put in place a decade ago. "A new corporate structure that would further consolidate management resourcesAFP - 266 words
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327 1994-01-22 8 Reuter NEW YORK Sony Corp and Time Wamer Inc are in talks with the world's biggest record companies about forming a rival to MTV, the successful music video network owned by Viacom Inc, an industry source said. The source, who is close to theReuter - 327 words
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226 1994-01-22 8 NYT TOKYO Cable TV giant Tele-Communications Inc is becoming the first US company to invest in the Japanese cable TV industry, with a plan to buy as much as 25 per cent of Suginami Cable Television, sources say. TheNYT - 226 words
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384 1994-01-22 8 Bloomberg Business News KUALA LUMPUR Hicom Holdings Bhd's earnings forecast will likely prove conservative, but that should have little impact on its stock price because investors already have bid up shares in anticipation of new ventures, analysts say. In a prospectusBloomberg Business News - 384 words
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206 1994-01-22 8 SINGAPORE Stamford Tyres Corporation (STC), where former presidential candidate Chua Kim Yeow is the chairman, said it earned $473,000 for the six months to Oct 31, 1993, down 53 per cent from $1,016 million in the previous corresponding period. Although the Sesdaq-listed206 words
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240 1994-01-22 8 Apex proposals get nod with revisions Bernama KUALA LUMPUR Apex Equity Holdings Bhd has received approval for its proposed rights issue and guaranteed redeemable loan stocks from the Securities Commission. with certain revisions. However, its proposed one-for-four bonus issue of 7.076,346 or MSI (58.45 S cents) each credited as fullyBernama - 240 words
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752 1994-01-22 8 MARKET WATCH Bloomberg Business News SINGAPORE Looking for undervalued stocks amidst the booming economies of Singapore and Malaysia? Analysts say investors need look no further than their friendly neighbourhood petrol station. With automobile sales booming, and demand for transportation fuels skyrocketing. Singapore PetroleumBloomberg Business News - 752 words
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FINANCE & COMMODITIES
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Article, Illustration433 1994-01-22 9 Bloomberg Business News BEIJING In a long-awaited breakthrough for foreign banks, China has promised it will let them conduct business in local currency on an experimental basis, says Chinese Finance Minister Liu Zhongli. While Mr Liu refused to commentBloomberg Business News; Reuter - 433 words
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271 1994-01-22 9 Reuter HONGKONG The resignation of National Mutual Asia Ltd's chief executive Andrew Yang surprised the Hongkong stock market and triggered a sell-off of its shares on worries about a mass departure of sales agents, analysts said. "What people are worrying about is aReuter - 271 words
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222 1994-01-22 9 Reuter MELBOURNE The Australia and New Zealand (ANZ) Banking Group's first-quarter results are in line with plans for a recovery, says chairman John Gough. "The results for the first quarter have been pleasing and consistent with the board's plan for a progressive recoveryReuter - 222 words
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SMALL CHANGE
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Article96 1994-01-22 9 SINGAPORE The Indian Oil Corporation, an Indian stateowned company, yesterday signed an agreement with 11 international banks to raise a US$75 million (Ssl2o million) trade finance facility. The money will be used to finance the company's imports of oil and related products, said the Singapore96 words
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69 1994-01-22 9 Bloomberg Business News FRANKFURT The Deutsche Bundesbank will cut minimum reserve requirements for sight deposits, freeing a net 18 billion marks (5516.6 billion) into the German banking system. The German central bank said it will compensate for increased market liquidity by cutting back allotments ofBloomberg Business News - 69 words
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51 1994-01-22 9 Bloomberg Business News MUNICH Bayerische Vereinsbank AG, Germany's third-larg-est listed bank, has applied for a licence to open a branch in Shanghai. The bank, which has extended its market throughout Germany from its regional Bavarian base, opened an office in Beijing in 1986. Bloomberg BusinessBloomberg Business News - 51 words
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103 1994-01-22 9 Reuter SEOUL The net profits of South Korea's 14 city and 10 regional banks fell 4.6 per cent to 889.1 billion won (Ssl.7 billion) in 1993 from 931.6 billion won the preceding year, the Office of Bank Supervision (OBS) said. An OBS official blamedReuter - 103 words
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376 1994-01-22 9 NYT TOKYO The volume in the angry trade dispute between the United States and Japan was turned up another notch on Thursday, this time with the Japanese insurance industry vigorously denying that it is closed and countering that the American market goes furtherNYT - 376 words
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193 1994-01-22 9 Bloomberg Business News HONGKONG The Hongkong subsidiary of international investment conglomerate China International Trust and Investment Corp is planning to sell a Hongkong dollar-denomi-nated bond, according to an investment banker, bond trader and investor familiar with the financing. The bondBloomberg Business News - 193 words
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478 1994-01-22 10 Reuter HEERLEN, Netherlands The world's second largest pension fund, ABP of the Netherlands, must now decide where to get a better return for the 75 million guilders (5562.4 million) it receives every day in investment income and contributions from DutchReuter - 478 words
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396 1994-01-22 10 Reuter ZURICH Insurers, for years among the most secretive of Swiss firms, are opening their books to greater scrutiny as competition forces them to attract capital from abroad, say analysts and industry officials. Many Swiss companies have eased shareholder restrictions and madeReuter - 396 words
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Article, Illustration477 1994-01-22 10 DBS Weekly Currency Review USS/DM: Balis taking a breather? THE USS continued its rally, trading to a high of 1.7565 last Friday. It tested the same level for the next two days. However, this bullish sentiment was put on hold this week as the greenback477 words
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133 1994-01-22 10 Bloomberg Business News JAKARTA Just a week after announcing new financial incentives to encourage exploration for oil and gas, Indonesia has offered foreign and local oil companies the opportunity to explore 12 new and 28 previously explored areas, says the JakartaBloomberg Business News - 133 words
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310 1994-01-22 10 Bloomberg Business News MOSCOW Russia's energy sector faces another tough year, but instability should not thwart efforts to prop up output and attract foreign investment, says Fuel and Energy Minister Yuri Shafranik. "From an economic point of view, 1994 will not be easy.Bloomberg Business News - 310 words
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213 1994-01-22 10 Reuter SINGAPORE South-east Asian rubber prices will be aided in the near term by tight supplies in SMR and SIR grades after recent prolonged rains, traders said yesterday. Consistent demand from the world's largest rubber consumer, the US, is also seenReuter - 213 words
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198 1994-01-22 10 Reuter BRUSSELS Efforts lo clinch a deal to cut a huge world aluminium surplus were set to drag through the weekend after officials of major producing countries quit talks in Brussels yesterday tight-lipped and empty handed after a marathon meeting. "TheReuter - 198 words
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Article, Illustration130 1994-01-22 10 VOLATILE trading was seen in the regional currencies, particularly the S$ and MS. The USS opened lower against the SS at 1.6080-90, as the German central bank made no move to cut interest rates. It traded down to 1.6032 on a combination of corporate selling and crossselling against the USS/MS.130 words
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Article196 1994-01-22 10 Bloomberg Business News LONDON The dollar ended little changed against the yen in Europe, and higher against the mark yesterday, after it earlier dived to a 4-week low against the Japanese currency. The yen surged in late Tokyo and early European trading as traders bet the US government willBloomberg Business News - 196 words
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Article85 1994-01-22 10 AFP NEW YORK The dollar was uneven yesterday in moderately active trading, with heavy dollar-yen transactions following Japanese legislators' rejection of political reforms. Around 9:30 am (1430 GMT), the dollar was trading at 1.7395 German marks up from 1.7380 on Thursday and at 110.70 yen down from 111.38AFP - 85 words
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Article, Illustration1360 1994-01-22 10 Trade-wetgiued index coiadoJed agauut S pore's lop 14 trading partners Bate year IMS US$/S$ frnnrd rates Noon Jan 21 SS u Oftr 1-month 1*057 ***** 2-month 1.6066 160*1 3-month ***** 1.6091 6-month 1.6100 1.6120 Sounx OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES to at 10m m Jaa 21: Sitfuort iotlin1,360 words
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COMMODITIES & FUTURES
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1318 1994-01-22 11 SIMEX REPORT SINGAPORE Simex Euroyen interest rate futures ended sharply higher yesterday boosted by shortcovering after the Japanese coalition party failed to pass its political reforms through the Upper House of Parliament. Buying heated up in the late afternoon after Japanese Prime Minister Morihiro1,318 words
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Article610 1994-01-22 11 COMMODITY REPORTS Tin TIN'S recent uptrend was shortlived and prices fell further to end lower yesterday on active selling ahead of the weekend, traders said. The metal settled at MS 13.33 a kg. down seven sen. The falls also reflected easier LME trend. Tin610 words
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KNIGHT-RIDDER COMMODITY SUMMARY
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114 1994-01-22 11 SYDNEY Chinese corn sales to the Mediterranean and South America are near a standstill as the new buyers have found problems with quality, traders in Hongkong said. The buyers traditionally buy US corn but turned to Chinese origin late last year because rising US prices114 words
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Article73 1994-01-22 11 SEOUL The Korean Corn Processing Association bought SO.OOO tonnes of March-May shipment Chinese corn through private negotiations on Tuesday at a price of US$ 122.00-125.00 per tonne C and F, traders said yesterday. Swiss trading giant Lomax sold the grain through its South Korean agent.73 words
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Article118 1994-01-22 11 TOKYO Rice shipments from China to Japan will likely arrive later than expected due to tranv portation problems and delays in quality inspections, industry sources said. China is expected to become the largest rice supplier to Japan if it agrees to supply a further 400.000118 words
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Article56 1994-01-22 11 SYDNEY Aluminium prices bolted in active Asian trading yesterday in anticipation of developments at multilateral trade talks underway in Brussels to slow world production. Active buying by Japanese consumers of aluminium yanked the price to a high of USSI,2IS a tonne before some dealers piled in to56 words
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Article1584 1994-01-22 11 Rubber IAS Caatawdity Excfcaaga (Marts dating as at lpai) »SS 1 Caatract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Feb 94 OOO OOO 130 50 0 350 Mar 132.50 132.25 132.50 100 6.475 Apr 134.50 134.25 134.25 450 5.350 May 0.00 0.00 135.75 01,584 words
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REGIONAL STOCK MARKETS
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Article1231 1994-01-22 12 •15.9 PROFIT-TAKING after a heady week left the Australian stock market down at the close but the mood remains buoyant, brokers said. Brokers described the correction, after the market put on 4.0 per cent in the past five trading days, as inevitable. Buyers, especially off-shore, consolidated profits on the1,231 words
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Article500 1994-01-22 12 +135.22 Taiwan stocks closed 2.3 per cent up after a recovery in the heavily weighted financial sector encouraged a late buying spree led by textiles and electronics. The index, which hit a low of 5,756 in early trade, ended 135.22 points up at 5,944.87. Turnover eased slightly to a500 words
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Article576 1994-01-22 12 •6.72 Philippine share prices tumbled yesterday as investors cashed in on gains from a three-day run and the market reacted to corrections in regional stock markets, analysts said. The composite price index at the Manila Stock Exchange retreated 6.72 points to close at 3,106.21, while the indicator at the576 words
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Article425 1994-01-22 12 -8.09 Stocks closed a roller-coaster trading session lower after prof-it-taking in blue chips outweighed selective buying interest in low-priced shares. The composite stock index closed 8.09 points lower at 870.20, comfortably off a day high of 881.60. "institutions, reflecting government market-cooling steps, eagerly took profits when the index approached425 words
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Article310 1994-01-22 12 •17.09 The New Zealand share market lost ground but rebounded in afternoon trading with the NZSE-40 capital index closing at 2,279.82, down 17.09 points, after earlier bottoming out at 2,265.91. All the leaders were down, with forestry stock Carter Holt Harvey, which had spearheaded Thursday's 30-point rise, the310 words
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WORLD STOCK MARKETS
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Article292 1994-01-22 12 +3.54 A volatile expiry of January options contracts took Dutch stocks to a new re-cord-high in another active session, traders said. "It was a hectic, technical day," said Eddy van Uden, trader with CSFB in Amsterdam. "Not a day where a normal human being can do something. All logic292 words
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Article231 1994-01-22 12 -40.59 The DAX index of 30 leading shares closed 1.92 per cent lower yesterday, as share prices were hit by sharply lower DAX futures prices and selling on the DTB options expiry deadline, traders said. The DAX index closed at 2,075.61, down 40.59 points from the last DAX close231 words
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Article161 1994-01-22 12 +0.75pc Shares turned round from earlier losses as a bout of buying interest from both Italian and foreign investors emerged, traders said. The Mibtel index closed up 0.75 per cent to 9,864 from low of 9,716. The BCI index failed to fall below support at 600, triggering a technical161 words
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Article768 1994-01-22 12 +14.2 London equities ended a choppy session broadly firmer as a shortage of stock and investor liquidity pushed UK blue chips to another record high. By the 1630 GMT official finish, the FTSE 100 index was up 14.2 points to a record closing high of 3,484.2, surpassing the previous768 words
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Article129 1994-01-22 12 -13.84 French shares ended the session weaker as comments made by Bundesbank president Hans Tietmeyer extended the market's earlier losses during the afternoon and worries about LVMH continued to affect the share. The CAC-40 index ended down 13.84 points, or 0.61 per cent, at 2,243.97. This was 18.28 points129 words
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Article98 1994-01-22 12 +4.06 Swedish shares closed higher led by gains in Skandinaviska Enskilda Banken and drug manufacturer Astra. The 30-share OMX index rose 4.06 points to M 97.29. Sixteen of the issues tracked by the index rose, seven were unchanged and seven fell. Volume was moderate, with 10 million shares traded.98 words
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Article150 1994-01-22 12 -8.69 Belgian shares closed lower on the first day of the new market account after a volatile derivatives-led session. Traders said the resignation of three key socialist politicians over an alleged bribery scandal had had little effect on the market. They added, however, short-term direction seemed unclear. The Bel-20150 words
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Article258 1994-01-22 12 -2.73 Swiss shares ended down, but ofT earlier lows as buyers returned to the market looking for bargains. Earlier, the market fell, following a lower Frankfurt bourse and a lack of positive factors, dealers said. Later the release of lower Zurich January inflation data, an indicator of national trends,258 words
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Article270 1994-01-22 12 +8 Gold shares ended sharply weaker yesterday as sellers appeared ahead of the weekend after bullion's steady decline since Thursday night, dealers said. The gold index was 120 points lower at 1,943, the industrial index was eight points better at 5,483 and the overall index lost 70 points to270 words
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Article280 1994-01-22 12 •9.2 Stocks opened softer yesterday as players took a another breather from the recent sharp run-up and golds stayed weak amid reports of a large bullion cache. The TSE 300 composite index eased 9.20 points to 4,533.18 in turnover of 13.19 million shares valued at Csl67 million. Declines led280 words
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Article515 1994-01-22 12 Vienna Jaa 21 Airk ALA IWO 10 BankAminalP) 41* I Conuimta I0«0 t 5 Flu|hafcn MJ -II Until* 1245 J5 Lcyfcam 4J6 I Skw-DP 192 -2 Sirahaf IMS J Voucher JT2 +1 Wienrrtxn 4170 10 Source: Bank Austria Aktiengesellchaft Nasdaq JM 20 ISS fdolpti Coon Brewing .15 4/1 2/8 Appk515 words
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Article688 1994-01-22 12 +12.39 The Dow Jones industrial average was ahead 12.39 points to 3.904.35 at II am EST yesterday. It closed 7.59 points higher to 3.891.96 on Thursday, topping Wednesday's record 3,884.37 and marking its eighth new high of the year. The New York Stock Exchange composite index was ahead688 words
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Article, Illustration2462 1994-01-22 13 HONGKONG Stocks overcame a weak start to end sharply higher after selective buying pushed prices up in thin turnover, brokers said. The Hang Seng index closed 194.53 points or 1.73 per cent higher at 11,459.37, after dropping over 135 points near the open. "There's not that much going on,Source: Bridge Info - 2,462 words
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Article, Illustration436 1994-01-22 13 THE CLSA Shanghai B Index finished 15.56 points lower at 963.28 on light volume yesterday. Erfangji has dropped 17 per cent over the past four days. Pilkington Glass and Forever lost about 5 per cent. Among the few gainers, China TM soared 8.1 per cent on slim turnover. Vacuum436 words
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Article, Illustration2395 1994-01-22 13 Reuter TOKYO Stocks were firmer at the close amid hopes that the Upper House of Parliament would pass political reform bills later yesterday afternoon. The bills, which failed after market closure, would have paved the way for the government to announce long-awaited economic stimulus measures, brokers said. Optimism tookReuter; Source: Bridge Info - 2,395 words
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Article, Illustration1447 1994-01-22 13 Reuter BANGKOK Thai stocks firmed at the end of a quiet trading day to finish up 10.16 points at 1,408.46 yesterday. Rises outnumbered falls 177 to 97 while 68 issues ended unchanged. Turnover was 11.98 billion baht. "At these levels prices are quite reasonable but there's not much incentiveReuter; Source: Bridge Info - 1,447 words
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Article, Illustration1108 1994-01-22 13 Reuter JAKARTA Share prices closed lower in moderate late trading with sentiment weak on property stocks, dealers said. The official index fell 7.17 points to close at 585.77. "New regulations which will enforce tighter accounting practices for property companies could cause a few headaches. This has affected sentiment onReuter; Source: Bridge Info - 1,108 words
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Article, Illustration2740 1994-01-22 14 Source: Bridge Info Source: Bridge Info MOST ACTIVE volume Promt fc.J07.000 kamunting 50c 6.037.000 Fabcr (iroup 5.706.000 AMDB 30c s >*7 000 Sfi Hartamas 3."H I UX) Kcnong Bhd 5(V 3.507.000 Tan hong 5<lc 2.'*72.0U0 Idm H>d 50c 2.''54.000 KiBCorpn 50c 2.805.000 Lien Hoc TSR97 2.772.000 FMIMc 2.*****0Source: Bridge Info - 2,740 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration5141 1994-01-22 14 Bloomberg Business News KUALA LUMPUR Malaysia's benchmark stock index rose 1.31 per cent as looser credit at brokerages lifted the spirits of investors reeling from this month's plunge in prices, traders said. But analysts pointed to the thin volume as a sign that investorsBloomberg Business News; Source: Bridge Info - 5,141 words
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STOCK EXCHANGE OF SINGAPORE
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Article6849 1994-01-22 15 fc lllllliiBt';' iMIiKllifl liitlMi fll 199V94 LM V»J Dn _La1 Qmm DH Db VM Net MCu High Lm CMfM> Salt (tM) Hi# Law Bayar SMm Cn P/E M MDUST1IAI. AND COMMERCIAL 1440 260 I Acnu 1300 undi 165 1)00 I2M 1290 1300 12.) 2.1 1.0 36.3 896.0 740 220 l»6,849 words
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Article, Illustration1741 1994-01-22 16 R Sivanithy - By R Sivanithy SINGAPORE "Thank God it's Friday" was a comment made by a dealer at the end of the day and it was also the most apt description of a relatively quiet day for the whole market. Although prices firmed throughout theSource: Bridge Info - 1,741 words
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Article, Illustration139 1994-01-22 16 Quak Hiang Whai - By Quak Hiang Whai PROPERTY counter FACB closed unchanged yesterday at $1.15 on volume of 2.64 million units. The stock continued to register lower tops and bottoms from its peak late last year and is now trading in a band between $1 and $1.20. It is likely to fall139 words
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Advertisement200 1994-01-22 7 |V Business Times/Renoma Promotion v-^ A W'. -'-k .vij? m MUM ml V 1m mm m 1 m# M-JM-JB B^^^ I Vv v, Make a styKsh statement at any lunch or high level oieetiags. Of course, you will need more than a business suit. It takes the 'if. touch. The200 words
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Advertisement36 1994-01-22 11 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead 737-1166 Business heats up when you make the fi&bi call and place an CJLTJ. ad. 1737-11*4)36 words
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Advertisement14 1994-01-22 12 CffSPl PORT SHOTS u atest n a r and 'and transportation. BusinessDmes V>i> itv.14 words
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Advertisement19 1994-01-22 13 high stakes Don't get shortchanged, g° for a coverage you can bank on. r?D Financial News. Everyday. I BusmessDmes19 words
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Advertisement21 1994-01-22 14 :J/L s fluid Jor eve rv I lung, Ihe least vou ran do is lel lu»i go the whole a* av.21 words
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Page 15 Advertisements
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Advertisement32 1994-01-22 15 ;%.;,"<{|,[+@"^]@`:<@[\@.?;_<~` $£4&-«•$ tt;<4 &-<•s -<•! &> <4 Ta> &> 4 Yl\ If 1 tU,> > t«H pjjj S& Busiest Marketplace in Print *g *> g» The Classified |jj 4 ®&i I I 4 ??J w S"4 £"4 432 words
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Page 16 Advertisements
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Advertisement169 1994-01-22 16 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-741-1883* FAX::74f-1298 SMITH NEW COURT I (SINGAPORE) PTE LTD I (Member of Stock Exchange of Singapore Ltd) I invites applications from suitable candidates for I the position of H CORPORATE 1 I FINANCE EXECUTIVE I The candidate should possess a good degree preferably in I169 words
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Advertisement768 1994-01-22 16 Personal Finance and Investment, every Saturday in Executive Lifestyle ~[~@\.}+/&,}.}?_<==?>|'=&~)@=;` PRIMITIVE FURNITURE FROM THE ISLAND OF SULAWESI, MADURA JAVA i The largest collection of primitive art consisting: 1 190 pieces of selected Armoire (Cupboards), Carved Panels, Raffles Settees, Benches, Teak Chests, Dressers, Mirror Frames, Stone and Bronze Sculptures. 1 Dealers768 words
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Advertisement36 1994-01-22 16 Jl£ you're J planning for S lan exciting j 1 career move, j I the I j Appointments j i Section is Just I the piace to j start looking j tor that j perfect position.36 words
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Executive Lifestyle
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Article, Illustration1790 1994-01-22 17 Susan Tsang - What has the novice investor gained from last week's stock market plunge? Susan Tsang finds out Susan Tsang THE housewives have been at it. So have postmen, coffeeshop assistants, salesgirls. You can't even get into ft cab these days without the driver asking you if you're1,790 words
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STRAWS IN THE WIND
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Article52 1994-01-22 17 A GERMAN woman visiting Singapore was thrilled when her host family decided to take her across the Causeway to visit Malaysia. During the long drive, her fellow passengers fell asleep and were rudely awakened by their excited guest, who told them: "Wake up everybody, we've reached the town52 words
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Article98 1994-01-22 17 IT ISNT pleasant to know that your office is burning. Maybe that's why office workers weren't sure how to react when someone announced over the speakers: "We suspect a fire in the building. Please remain calm." and followed that up with some music from the TV soap98 words
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Article36 1994-01-22 17 MORE on the stock market: a punter's spouse was overheard explaining the term "market consolidation" "It means there is a lot of consoling to do when the market dips like it did last week."36 words
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OPINIONS
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Article, Illustration862 1994-01-22 18 Neville Stack - Neville Stack says those back-at-work blues should not alarm, reminding us that Cheerful Tuesdays really count Neville Stack The writer is a political commentator based in London. He contributes regularly to BT. Everyone is liable to have an off-day now and then. And an on-day too,862 words
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806 1994-01-22 18 Anna Teo - Anna Teo takes a quirky look at some of these little ironies Anna Teo The writer is a BT correspondent Actually, it's not just capitalist pragmatism and a crass gimme-value-for-mon-ey mentality that grips us in Singapore. Somehow a dose of perverse logic806 words
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565 1994-01-22 18 James Tan CL - James Tan CL THE recent decision by the Stock Exchange of Singapore to allow the 107 bank branches currently selling Telecom A B shares to extend trading to scripless counters is indeed commendable. It would mean reaching out to a much larger565 words
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375 1994-01-22 18 Peter Chia - Peter Chia Public Affairs Manger Stock Exchange of Singapore Lid THE sustained high turnover on the Singapore stock market has stretched the dealing and adminis- trative capacities of stockbroking firms. As a consequence, some investors have written to the press, requesting a relaxation375 words
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510 1994-01-22 18 Hon C W - LETTERS TO THE EDITOR Hon C W Managing director World Gym Pte Ltd SPORTS is defined in the World Book Dictionary as "games, contests or other pastimes requiring some skill and usually a certain amount of physical exercise". As a pastime, bodybuilding improves the510 words
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PEOPLE
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Article, Illustration542 1994-01-22 19 PATRICK Ngiam, founder and chief executive officer of Singapore multinational company IPC Corporation, bagged the Businessman of the Year Award the nation's most prestigious prize for entrepreneurial achievement at a black-tie event held at the Shangri-La Hotel on Jan 14. Home Affairs Minister WongPhotos by Christopher Loh and Arthur Lee - 542 words
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PERSONAL FINANCE & INVESTMENT
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BULLS EYE
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Article, Illustration64 1994-01-22 20 Those polled on their views of the Singapore stock market for the week ahead: Alliance Securities, Baring Securities, Crosby Securities, Daiwa Securities Singapore, DBS Asset Management. Kim Eng Securities, Morgan Grenfell Asia Securities. OCBC Investment Research, Ong A Company. Peregrine Securities. Phillip Securities Research, Schroder64 words
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Article326 1994-01-22 20 Phillip Securities Research DBS Bank. Being the largest inter-bank lender, DBS Bank would benefit most with firmer inter-bank rates, especially as the 3-month inter-bank rate has risen above the benchmark 3-month deposit rate of 2 per cent since April this year. Besides, the strong loan growth of 20 per326 words
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Article, Illustration212 1994-01-22 20 Nomura Research Institute The performance of the Tokyo stock market in 1994 and beyond will depend oh the government and businesses' response to fundamental changes taking place in the country. Eventually we think the new system will take the following form: a new political andSource: Bridge Info - 212 words
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Article, Illustration239 1994-01-22 20 Max Guglielmucci - Max Guglielmucci Investment analyst Vickers Ballas Investment Research UT HE HOT topic in I Singapore at the JL moment is shares even after the recent shake-out which saw the STII lose 10 per cent of its gains within a matter of days. However there is still good239 words
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1013 1994-01-22 20 Shiv Taneja - Shiv Taneja analyses the impact of higher interest rates on property and stock investment Shiv Taneja IS IT time to pull your money out of the stock market and put it back into bank deposits, or other fixed-income securities? Conventional wisdom1,013 words
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Article, Illustration816 1994-01-22 20 Lee Han Shih - STOCK By Lee Han Shih GIVEN its poor interim results and cashflow, a rights issue with a deep discount seems inevitable if C K Tang persists in plunging into the Malaysian retail market. For the past two years, the listed retailer has816 words
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Article, Illustration811 1994-01-22 20 Paul Leo - Spotlight currency By Paul Leo DESPITE the wild gyrations of the Malaysian ringgit in the last two weeks, money can still be made by investing in it. In fact, the recent weakness in the Malaysian currency has presented a golden opportunity to get itSource: TeleTrac - 811 words
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Article, Illustration909 1994-01-22 21 Quak Hiang Whai - By Quak Hiang Whai ENOUGH "fundamental" reasons have been advanced about the steep fall in the Singapore stock market over the last two weeks. A half-point interest rate increase by United Overseas Bank; bearish remarks by a prominent Malaysian politician; Bank Negara's moppingSource: Bridge Info; Source: Bloomberg - 909 words
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855 1994-01-22 21 R Sivanithy - R Sivanithy gives tips on how to bet on the direction of the Tokyo index R Sivanithy WITH the local equities market in the doldrums, investors looking for quick action should focus on a foreign market that has been the subject of considerable855 words
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Article, Illustration1384 1994-01-22 22 Amy Balan - Amy Balan visits Philadelphia, America's most historic city Amy Balan MENTION Philadelphia and most Singaporeans probably think of Philadelphia cream cheese. Or if you're a Sylvester Stallone fan, you'll think of the Rocky movies. Remember your goose bumps when Rocky Balboa pounded the1,384 words
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Article, Illustration731 1994-01-22 22 SUSAN TSANG - A preview of two Lunar New Year attractions that have been touted as strong contenders for the Oscars Cinema Review by SUSAN TSANG HAVING given us urban violence, loonies and gangsters. Martin Scorscse turns his hand to a costume drama set long ago. during731 words
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Article, Illustration742 1994-01-22 22 JAIME EE - By JAIME EE IF THE people at Cannes are to be believed, this is what you need for an award-winning movie one piano, one frigid woman, two horny but emotionally constipated men and a nine-year-old girl who's so smart you swear she must actually be742 words
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Article, Illustration797 1994-01-22 22 Goh Beng Choo - Goh Beng Choo on an exhibition by artists from northeastern China who seek to revive an ancient art form Goh Beng Choo WHEN four artists devote an average of 20 years each to an ancicnt Chinese art form, what they produce must be worth797 words
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Article, Illustration432 1994-01-22 23 SHAHIRON SAHARI - by SHAHIRON SAHARI CD Review STAKKA BO: Supermarket STAKKA BO is a Swede whose musical odyssey began with Punk in the *****, before going on to Rap and Hip Hop in the early 1980s and then Jamaican Ska in the later 80s. This resulted in432 words
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SPORTS
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Article, Illustration569 1994-01-22 24 Australian Open AP MELBOURNE Anke Huber, the No 7 women's seed from Germany, was surprised 3-6, 7-6 (12-10), 6-4 by American Ginger Helgeson at the Australian Open yesterday. Huber squandered three match points in the tiebreaker, in which she served three double faults.AP - 569 words
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417 1994-01-22 24 AP MELBOURNE The days of Jimmy Connors making obscene gestures on tennis courts around the world are over. John McEnroe no longer curses Wimbledon linesmen or Paris photographers. The ugly Americans of men's tennis have been replaced by a bunch of nice guys.AP - 417 words
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PASSING SHOTS
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143 1994-01-22 24 AFP THE television companies won't thank her for it. but world number one Steffi Graf wants to do away with changeovers during tennis matches. Graf, one of the fastest-moving players on the women's circuit, wants to play on and do away with the traditionalAFP - 143 words
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225 1994-01-22 24 but dreads return of painful injury Reuter STEFFI Graf revealed yesterday she had played in almost continuous pain throughout 1993 and became depressed by her enforced visits to doctors and specialists. Graf still won three Grand Slam titles Wimbledon and the French and US opens but was often unable toReuter - 225 words
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124 1994-01-22 24 AFP FORMER Wimbledon champion Pat Cash has undergone back surgery and has been told not to play tennis for at least three months. It is another setback for the Australian, who was attempting to return to the men's circuit after a successionAFP - 124 words
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Article, Illustration487 1994-01-22 24 Northern Telecom Open Golf AP TUCSON, Arizona Dillard Pruitt shot his way into the lead of the USSI.2 million (SSI.9 million) Northern Telecom Open tournament on Thursday after making three of his five birdies on the back nine for an 8-under-par 64. TiedAP - 487 words
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Article, Illustration404 1994-01-22 24 National Football League Playoffs AFP WASHINGTON A Super Bowl flashback another Dallas-Buffalo confrontation will be the result if tomorrow's National Football League conference championship games follow the odds. The reigning NFL champion Cowboys have the home field advantage against San Francisco in the National FootballAFP - 404 words
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767 1994-01-22 24 George Vecsey - George Vecsey George Vecsey has a solution to baseball's two problems NYT NEW YORK Can we turn away from America's favourite sport, figure skating, for a few minutes and give a little pub-lic-service scrutiny to the downtrodden old pastime of baseball? ThisNYT - 767 words
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SPORT SHORTS
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Article, Illustration69 1994-01-22 24 AFP HONGKONG China's mercurial super coach Ma Junren has withdrawn a threat to resign after the authorities crumpled to his demand for more cash, it was reported yesterday. The national sports ministry has stumped up grants totalling 1.32 million yuan (*****.000). and the state sports commission and the authoritiesAFP - 69 words
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Article, Illustration21 1994-01-22 24 Reuter NEW YORK NBA ThursdayMinnesota 93 San Antonio 83: Denver 111 Houston 106 (2ND OT); LA Lakers 107 Phoenix 102.Reuter - 21 words
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Article, Illustration185 1994-01-22 24 AFP Reuter AFP VERWOERDBURG, South Africa Zimbabwe's Nick Price scorched around Zwartkop Country Club in a record 11-under-par 61 on Thursday to take an emphatic six-shot lead in the U*****,000 ICL International golf tournament. Pricc's round of 61 was the lowest of his career and equalled the lowest roundAFP; Reuter - 185 words
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Article, Illustration116 1994-01-22 24 AP COPENHAGEN, Denmark Jaync Torvill and Christopher Dean battled back into contention at the European Figure Skating Championships on Thursday the best way they know how with a sultry dance to a romantic beat. "We were in love for two minutes while we danced." Torvill said. "And areAP - 116 words
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Article, Illustration127 1994-01-22 24 Reuter EDINBURGH Scotland, thumped 29-6 by Wales, has made six changes for its Five Nations championship clash with England at Murray field on Feb 5. It is the second international in succession that the Scots have ruthlessly applied the knife following the eight changes they made after their SI-15Reuter - 127 words
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Article, Illustration356 1994-01-22 24 AFP MELBOURNE Australian Open Friday Men's singles 2nd round: Malivai Washington (US) b Andrei Cherkasov (Rus) 6-4 2-6 6-2 3-6 6-2. 3id Rd: Magnus Gustafsson (Swe xlO) b Joem Renzenbrink (Ger) 6-2 6-2 6-2; Grant Stafford (SA) b Marc Rosset (Swi xll) 3-6 6-2 6-2 6-1: Ivan Lendl (USAFP - 356 words
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TIME OFF
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Article, Illustration679 1994-01-22 25 Shahiron Sahari - Shahiron Sahari joins the mid-30s to 40-something businessmen and executives at a pub that's inspired by New Orleans Shahiron Sahari TAKING advantage of the popularity of a local TV show called Rollin Good Times. three longtime friends have opened a pub with the same679 words
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Article, Illustration294 1994-01-22 25 Ben Johnson's Volpono The NUS Theatre Studies Programme presents this play about a miser who exploits the greed of his acquaintances and lures them into every kind of iniquity. Today, 2pm at the NUS LT 13. Tickets at $5 available from the Substation and NUS Theatre. Light in the294 words
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Article718 1994-01-22 25 SSO in Concert Choo Hoey guides the SSO in this venture with Lorin Hollander fingering the ivories. Together, they perform Rachmaninoffs Piano Concerto No 2. Choo Hoey also conducts Elgar's emotional Symphony No 1 for the first time with the SSO. Today. 8.15pm at the Victoria Concert Hall. Tickets718 words
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Article177 1994-01-22 25 The Great American Adventure Experience the wonders of the United States of America as these three filmlets take you on the road across the continent. See the awesome wonders of the Grand Canyon, the sunny side of Hawaii and the power of the Niagara Falls. Showtimes: I lam: Hidden177 words
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Article, Illustration519 1994-01-22 25 Cocoon An exhibition featuring the works of sculptor Lim Soo Ngec and painters Soh Chi Hui. Sunar Sugiyou and Yeo Siak Goon that displays their perception of the world around us. Till Jan 28. I lam to spm at Shenn's Gallery. Bt Pasoh Road (off Neil Rd).519 words
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Article154 1994-01-22 25 The Poly Stage Factor presents this tale about how some women deal with their husband's infidelity. Today, 2pm and Bpm at the Guinness Theatre. Tickets at $8 A double bill of Tamil plays which got a R(A) rating. The former, originally written in Mandarin satires the perennial154 words
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Article91 1994-01-22 25 Christopher Toh - Compiled by Christopher Toh Sistic outlets are at Forum Galleria, Liang Court, Raffles City. Scotts. Specialists' Centre, Takashimaya. Cold Storage at Jelita, Promenade and World Trade Centre, and at the Indoor Stadium. Hotline: 348-5555. Ticket Charge outlets are at Metro stores, Wisma Atria, Centrepoint and Tangs. Hotline: 269-2929. If91 words
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EPICURE
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Article, Illustration824 1994-01-22 26 JAIME EE - Bm Appttit By JAIME EE WANG JIANG LOU Seafood Restaurant is a hassle to pronounce, much less find. Knowing that it's located at 1 Clarke Quay, the latest of hip playgrounds, isn't quite enough, either. The place is divided into blocks which are supposed824 words
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827 1994-01-22 26 N K YONG - 1982 revisited and with great pleasure Wfne By N K YONG IT WAS hailed as the vintage of the century at the time. But how is the 1982 Bordeaux, the vintage which started the Bordeaux boom, doing today, 11 years on? Is it all that it has been cracked up827 words
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Article, Illustration1038 1994-01-22 28 AMhk Faofly Vahm. Raul Julia, Anjelka Huston and their creepy, ooky family are back, with a little addition. Lido: 1.45: 7; 9.30. Pavilion: I lam. Yishun: 10.25: 12.30: 2.35; 7.10: 9.15. Bishan: 12.30; 2.45: 9.30: 11.40. Aaaitn. F Murray Abraham plays Antonio Salieri, a composer whose envy of Mozart1,038 words
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Page 17 Advertisements
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Advertisement138 1994-01-22 17 I BOE n| 24-hour "Loan Information Service Approval 1 8 0 0 3 3 4 3588 SINGAPORE: THE HOUR CLASS Takashimava Shopping Centre Tel: *****20/1 Luckv Plaza Tel: *****62/545 Scorn Tel: *****27/7198 Centre point TeL *****98/ AOS Peninsula Plaza Tel: *****09/*****63 Raffles Tel: *****41/1169 World Trade Centre Tel: *****51 /1007138 words
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Page 18 Advertisements
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Advertisement22 1994-01-22 18 STRAIGHT TALK You shouldn't have to read between the lines to get the full picture. Companies Markets. Everyday. r¥l Business Times WtOtOWAStA22 words
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Advertisement26 1994-01-22 18 •BT welcomes letters from you. I'lease address them to: The Editor, Business Times. 390 Kim Seng Rd, S pore 0923. Letters should include your contact numbers.26 words
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Page 18 Miscellaneous
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Miscellaneous86 1994-01-22 18 I IOOMOEfc U>H#\T 1 I 1 I i*• f I'm S!W?V»NG 1 GRST(?ONOniC "TR€AT —i 1" 1, 1 I tOE. -SHOULD GPvT ihJ J OU2 nPiSTeR CHeF, i i H i i f t 1 Vive. CAtrrej&jsj tnQ GOKDOI BLU€.. -i 1 _i t~ MENU —;rng2) SSs; I 1 «MiOCMIBMMMHMim.tH)-«W86 words
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Page 19 Advertisements
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Advertisement85 1994-01-22 19 mi'voiKnt. i < 'itvn.-r.iph uith .uitom.ui, m.ucmcnt. nn/UAlin ~/ril Mccl .uui -old-plated and br.ucitt. W mvc:RAYMOND WEIL ah", "hicukd '<u n. Vr vippmrc >;rw.il. v r.ii rcMM.int vipphif. ,rw li. GENEVE W to metres. Witli• r l i .in t :■ritJ'i-v he r ft -t c :bt a \'.nl.ihic in85 words
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Advertisement26 1994-01-22 20 For Homo or Office deliveries of: Straits Times, Sunday Times, Business Tunes, LianHe Zaoßao, Berita Harian, Berita Minggu, Shin Min, LianHe Wanßao call our Hotline 1800-749-2577.26 words
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Page 21 Advertisements
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Advertisement40 1994-01-22 21 r 1 >«» k AFTER A BUSINESS TIMES 4 c xc^'s/ &(scot/ieyu€ a//(/. ffe/n/ters (>/// 1\ > I m |my HAPPY HOURS m 1 M v*F \v^ Monday to Friday; spm to Bpm The Penthouse, Pacific Plaza, No. 9 Scotts Rd. ij^^B i40 words
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Page 23 Advertisements
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Page 24 Advertisements
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Advertisement86 1994-01-22 24 1 ADVERTISEMENT Busiiiesflhnes/KENWOOD GOLFING TIPS By BRETT BRASIER PROFESSIONAL GOLFER Fully Qualified Member Of 5.P.G.A,# Dip in Golf Management Then,keeping your body 0 rJ very still,hit an inch A £J| behind the ball and feel, you are 'slicing' under the ball and out of I sand-follow-through Very short bunker shots86 words
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Page 25 Advertisements
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Advertisement58 1994-01-22 25 SINGAPORE m Business Times WF. KNOW ASIA j@a*mj -"""V j/i/S&ttl t to fact gyS? 1 BHHIHMiMHIIBBHHHIHi Address: a Mail or fax this form to: Postal Code: Customer Relations Section Circulation Department r-^S^^^^^S^^SSS^SSW Singapore Press Holdings Limited 82 Genting Lane Occupation Fax I News Centre Singapore 1334 I Tel: 1800-749 257758 words
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Page 26 Advertisements
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Advertisement147 1994-01-22 26 THE ENERGY OF FIRE... THE POWER OF SPACE How the sun radiates. Giving fire, life, 9 energy. And air... how immeasurable its power. Filling space, always there. Infinite. both elements are so unassuming... how often we forget their very existence. The Legend learns a > valuable lesson from t Nature's147 words
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Advertisement152 1994-01-22 26 GENUINE TASTE OF ITALY. Come and dine at Pasta Fresca. Let our wide range of authentic Italian pasta, pizzas. Ice-cream and cappuccino thrill you. And of courae, don't miss our most-talked about dessert. Tlramlsu. PASTA FRESCA DA BALVATORE PTE LTD BLK 833 flDt-03 ROWNAALLE BUKXT TIMAH ROAD SMGAPORE WZ7 tti152 words
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Page 27 Advertisements
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Advertisement904 1994-01-22 27 Null king BCflftSAßlKLfecffifl WHERE to wine, dine and entertain or 1 fit Cafe Carousel HffiM jsafe. IBMH (s/trousa bouloaro hotel 200 Orchard Boulevard Singapore 1024 Te1:737 2911 HiA Tea Fashion Now at MOON PAVILION CHINESE RESTAURANT (Mezzanine Floor) Our ever-popular J ~T High Tea treats you to an array of904 words
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Advertisement329 1994-01-22 27 <e t6 is <e ]ts Widest appetiser choice. i If we were to (ay the appetiser spread at our monthly international luncfi buffet down Orchard %pad, you'd have the widest choice in town. Lit• e rally and wonderfully. ISP for reservations, please call *****51. /f| Italian 'Buffet for the month329 words
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Page 28 Miscellaneous
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Miscellaneous2370 1994-01-22 28 TODAY'S TV HBHTF7TTTT73HHI ■RfTTV3IT!T73H mo sheet tiM video. Chris 9.00 KiricufM) Serle shows how an in- 10.00 H«mi «W WkMb. tervicw IQ 3Q Bohoteck Qaartemass Expartoieat, 2pm, Hollywood Staatmakers, 4pm, c M Jftirt? S'laaaa t See 11.00 S^Wy! SKS SBC 5 630 OurChoiJe) 11Ji A' sick astronaut (Richard This episode2,370 words
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