The Business Times, 7 May 1994
1994-05-07
1
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The Business Times
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Title Section12 1994-05-07 1 Business Times MITA(P) 010/12/93 Weekend Edition. Mav 7-8 1994 U'hKMMASIA 75 c12 words
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Article, Illustration654 1994-05-07 1 Lee Han Shih - Rival relatives win vote by 53pc to 47pc By Lee Han Shih SINGAPORE Alan Yeo. chairman of his family's softdrink firm Yeo Hiap Seng (YHS) Ltd, was narrowly defeated last night by rival relatives in a move to sell the654 words
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Article, Illustration248 1994-05-07 1 SINGAPORE The Hongkong stock market continued its rebound yesterday, but the region's other major bourses continued to sag on interest rate worries. In Singapore, the Straits Times Industrials Index fell 21.55 points to 2,256.19 in thin trading. Brokers said investors were holding backSource: Bridge Info - 248 words
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387 1994-05-07 1 Bernama KUALA LUMPUR Confidence in the ringgit returned to the market, causing the local unit to close almost 170 points higher against the US dollar in an active market trading here yesterday. Dealers said the local unit closed at 2.6470/90 per US dollarBernama - 387 words
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371 1994-05-07 1 Washington Post, AFP. Reuter WASHINGTON Five months after President Bill Clinton proclaimed the birth of a new Pacific community of lucrative trade and shared interests, the State Department's top Asia hand has warned in a letter to Secretary of State WarrenWashington Post,; AFP.; Reuter - 371 words
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420 1994-05-07 1 Lilian Ang - By Lilian Ang SINGAPORE The Inland Revenue Authority of Singapore (IRAS) is examining the latest tax returns of those thought to have engaged in property speculation. If their transactions are not declared, penalties will be imposed. An IRAS spokesperson confirmed this yesterday420 words
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2am LATEST
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Article77 1994-05-07 1 Reuter NEW YORK Wall Street stocks fell sharply yesterday, hit by a deep sell-ofT in the bond market as stellar April jobs growth reignited inflation fears, sending long-term interest rates soaring to 17-month highs. At Ipm EDT, losers outnumbered gainers by a 6-1 margin on theReuter - 77 words
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Article76 1994-05-07 1 AFP NEW YORK After a sharp jump here yesterday following publication of better-than-ex-pected unemployment figures for April, the dollar reversed course and fell below its level on late Thursday. At about 2.05pm EDT, the dollar was trading at 1.6640 marks, compared with 1.6718 in theAFP - 76 words
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Article168 1994-05-07 1 Stock market indices Friday Change STI1 2,256.19 -21.55 KLSEComp 1,011.57 +4.56 Nikkei 19.862.47 +292.26 Hang Seng 8.620.27 207.39 SET Index 1,240.71 -11.66 Jakarta C'omp 463.12 +0.57 CLSA China B 986.82 +1.76 Aust All Ord 2.004.3 +16.2 FTSE 100 3.106.0 unch Friday Previous 2pm close Dow Jones 3650.46 3,695.97168 words
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Page 1 Advertisements
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Advertisement19 1994-05-07 1 Interview with Paul Hogan: el i Marrying show business with stock market j/l y I Full reports, Pgs 12-1619 words
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Advertisement21 1994-05-07 1 Hock Lock Siew: Pg 6 Natsteel Electronics 9 challenges S'pore hopes caning of Fay won't strain ties with US, Pg 221 words
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Advertisement251 1994-05-07 1 Stock picking: el 4 How to assess the value of a share Since 1735 there has never been a quartz Blancpain watch. And there never will be. The ultra-slim watch Expressing the essential. The first masterpiece in the art of watchmaking is portrayed by ideal perfection in the mechanical watch.251 words
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Advertisement27 1994-05-07 1 The Raffles Conversation: EL 3 A green-minded businessman US employment report, Pg4 Subscription 'et 1800 *****/7 Fax *****75 BT Nmrtdesk Tel *****18 Fa. *****71 llillllllllll 8 88?181''*****227 words
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Advertisement56 1994-05-07 1 ■»r 111 JflK' Hk/| nHH H M 7jB I i^^^HRc CONTENTS C Pi ote S pore News 2 S 6.7 Regional News 3.4 Financial 10 World News 4.5 Futures Markets Opinions EL2 Ctob N.SE. SES 14 16 PI EL4.5 Reponal 12 Reviews EL6.7 World 12 Sports ELB Currencies 10 TV56 words
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SINGAPORE NEWS
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Article, Illustration365 1994-05-07 2 Shiv Taneja - Charity Investment Race By Shiv Taneja URGING more financial institutions to help raise funds for charity. Trade and Industry Minister Yeo Cheow Tong said yfesterday that with more than 2so such institutions in Singapore. "it was indeed surprisiOg" to see only 10 participants iO365 words
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123 1994-05-07 2 St Michael stores renamed Marks Spencer SINGAPOREANS have always bought their crinkle cut chips and aromatic talcs from St Michael stores, but that's about to change. All seven local outlets will be renamed Marks Spencer tomorrow. The businesses, which arc franchises held by listed retailer Robinson Co. have operated for123 words
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511 1994-05-07 2 Chuang Peck Ming - By Chuang Peck Ming SINGAPORE says it hopes the United States will not let the Michael Fay incident hurt ties between the two countries. "It would he regrettable if the actions of one individual, who transgressed Singapore law and511 words
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410 1994-05-07 2 Abdul Hadhi - By Abdul Hadhi THE burgeoning purchasing power of South-east Asian investors has attracted international real estate auctioneer Kennedy-Wilson to set up an office in Singapore. Chairman William J McMorrow. who was in town yesterday, said the CBD office will be ready later this year410 words
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NEWS ROUNDUP
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32 1994-05-07 2 MR CHAN Sck Keong has been reappointed Attorney-General for a further period of three years with effect from May 1, according to the Government Gazette yesterday.32 words
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Article80 1994-05-07 2 THE Housing and Development Board is calling for a tender for soil investigation of the area between Punggol and Coney Island. This is to prepare for the development of Punggol New Town, it said. Work is expected to start in September this year and be completed80 words
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Article96 1994-05-07 2 THE Stock Exchange of Singapore is organising a series of four half-day seminars entitled "Money Talks *94" on May 14 and 15 to help investors better understand the market. Those interested can select the morning session from 9.30 am to 1.00 pm or the96 words
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Page 2 Advertisements
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Advertisement214 1994-05-07 2 I OUR STAFF ENJOY I THE EXTRA I RESPONSIBILITIES. I OUR GUESTS ENJOY I THE EXTRA ATTENTION. H^- «ti»§ v H e Manna Mandarin our quality action, measurement, rewards and more satisfied. Through a smoother flow in H mission is to provide quality service to satisfy recognition. TQP helps us214 words
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THE REGION
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529 1994-05-07 3 Bernama PARIS Malaysia is negotiating with the Citroen car company here to bring European expertise into a possible third Malaysian-made car project. Prime Minister Mahathir Mohamad said yesterday. After the success of the Pro-ton-Mitsubishi venture and the recently announced second carBernama - 529 words
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Article, Illustration222 1994-05-07 3 Reuter TOKYO Justice Minister Shigcto Nagano yesterday publicly withdrew his remarks about World War II that enraged Japan's neighbours, and added that he might resign. "1 will consult with Prime Minister (Tsutomu) Hata and take his advice whether to resign." he told aReuter; AFP - 222 words
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526 1994-05-07 3 Reuter SYDNEY An ambitious A 56.5 billion (557.2 billion) bid by Australian Prime Minister Paul Keating to revive the workforce could signal an early election, economists say. Mr Keating on Wednesday announced wide-ranging reforms to the country's labour market aimed at retrainingReuter - 526 words
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139 1994-05-07 3 SINGAPORE Hongkongbased international property firm Colliers Jardine has strengthened its foothold in Vietnam with a new joint-ven-ture real estate company. An agreement was signed here yesterday by Colliers and Vietnamese Investconsult. under which the joint venture will provide an array of property139 words
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ASIA NOTES
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70 1994-05-07 3 MP TAIPEI Taiwan is to further liberalise its indirect trade with China by authorising investment in capital and technology-inten-sive industries on the mainland, economic officials said here esterdav. The Industrial Development Bureau said on Thursday that the authorities will add 633 more Chinese industryMP - 70 words
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Article75 1994-05-07 3 Reuter JAKARTA Indonesia will launch a census on Monday to determine Jakarta's ethnic Chinese population, the official Antara news agency said yesterday. The agency quoted Jakarta's deputy governor Idroes as saying the census was being conducted not because the problem of the Chinese population inReuter - 75 words
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70 1994-05-07 3 Reuter BEIJING China, in a rare account of labour discontent, reported yesterday a record level of work disputes and said it did not have the laws or trained personnel to cope with the crisis. In a lengthy report, the official Market News said theReuter - 70 words
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Article51 1994-05-07 3 MP KUAI.A LUMPUR Malaysia said yesterdav it was ready to sign a pact with Russia for the purchase of IX Vli<»-2 t > lighter jets with payment in cash and palm oil. A defence official said the agreement could be formalised by next month.MP - 51 words
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425 1994-05-07 3 Reuter SHANGHAI China plans to clamp central control over its chaotic oil indusm bv fixing the price of petrol and diesel and channelling sales through state agencies, official sources said yesterday. I he move marks another retreat from China's bold experiment withReuter - 425 words
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Article, Illustration309 1994-05-07 3 Lim Soon Neo - From Lim Soon Neo in HONGKONG I HI; director of China's Hongkong and Macau \ffairs i Office yesterday warned I hat it would he disastrous for Hongkong to he turned into a political city. Speaking at a luncheon meeting for businessmen, l.u Ping said:Reuter - 309 words
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382 1994-05-07 3 AFP BbIJING China is moving swiftly to arm itself with additional measures aimed at strengthening its legal seeurity arsenal against politieal opponents. The Standing Committee of the National People's Congress. currently meeting in Beijing. was asked by the government on Thursday to addAFP - 382 words
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Page 3 Advertisements
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Advertisement6 1994-05-07 3 BusinesslT Every Monday in Business Times6 words
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Advertisement10 1994-05-07 3 Keating in the right place at the right time. K210 words
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Advertisement76 1994-05-07 3 Lucille... The Gambler... She Believes In Me... Don't Fall In Love With A Dreamer... Lady...Through The Years... Date Sun May Time 8 PM Venue Singapore JflH:' Indoor *3 Vi ■HfeHiM J Stadium He fc- Prices S" $40,«$80. I fil l ®*ii K> w 11 1 7*~ f *jhb> fl L76 words
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THE REGION/WORLD
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506 1994-05-07 4 Reuter. AP WASHINGTON The US unemployment rate inched downwards to 6.4 per cent and a stronger-than-expected 267,000 jobs were added in April, the government said yesterday in a report that could tempt the Federal Reserve to push up interest rates again.Reuter.; AP - 506 words
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520 1994-05-07 4 Reuter, AP JOHANNESBURG Nelson Mandela's African National Congress (ANC) won South Africa's historic all-race elections with 62.65 per cent of valid votes cast, the body organising the poll announced yesterday. The Independent Electoral Commission (lEC) said outgoing white presidentReuter,; AP - 520 words
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Article, Illustration292 1994-05-07 4 Reuter WAVERLY. lowa Federal Reserve Board chairman Alan Greenspan said yesterday that the global financial markets have been under stress and suggested a recent downturn was unavoidable because investors misjudged interest rates. "In recent weeks, the worldwide financial system has been subject toReuter - 292 words
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203 1994-05-07 4 Bloomberg Business News WASHINGTON The Federal Reserve has pushed inflation almost low enough and does not need to eliminate all price increases in the economy, Alan Blinder, President Bill Clinton's nominee to the Federal Reserve Board, said yesterday. "The United StatesBloomberg Business News - 203 words
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Article, Illustration445 1994-05-07 4 Reuter CALAIS, France Britain and France, burying centuries of suspicion, inaugurated a new land link under the waves yesterday and French President Francois Mitterrand hailed the project as a major step forward for European unity. Mr Mitterrand and Britain's Queen Elizabeth, meeting amid a steadyReuter - 445 words
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354 1994-05-07 4 Reuter BONN Japanese Prime Minister Tsutomu Hata and German Chancellor Helmut Kohl have agreed that regional trade blocs pose no barrier to competition, according to a Japanese foreign ministry official. Mr Kohl told Mr Hata during a 90-minute meeting on ThursdayReuter - 354 words
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280 1994-05-07 4 Reuter IPOH Malaysian former Deputy Speaker of Parliament DP Vijandran. who quit three years ago after he was accused of acting in home-made pornographic videos, was sentenced to a month's jail yesterday for perjury. Vijandran was found guilty ofReuter - 280 words
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319 1994-05-07 4 AFP NEW DELHI An Indian minister has blamed the international lead managers for the postponement of a billiondollar equity issue by India's state-run overseas telecommunications monopoly. Minister of State for Telecommunications Sukh Ram said here on Thursday that global coordinators Salomon BrothersAFP - 319 words
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198 1994-05-07 4 Reuter LITTLE ROCK. Arkansas President Bill Clinton was sued yesterday by a woman who charged that he attempted to pressure her into engaging in sexual acts while she was a state employee and he was the Governor of Arkansas. Paula Corbin Jones, 29. demandedReuter - 198 words
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Page 4 Miscellaneous
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Miscellaneous470 1994-05-07 4 WEATHER Singapore: Showers over many areas in the morning. (Temperature range: 25-32). Ma-PacJHc Hi/IV CMd. Europe HI/IV Cond Buenos A*es 20/09 Clout* Auckland 18/12 Showers Amsterdam 16/8 Showers Chicago 14/07 Showers Bang** 35/25 T Stornis Athens 20/14 Cloudy Honolulu 27/22 Cloudy Beijing 23/11 Cloudy Bertm 18/7 Cloudy Houston 27/19 Cloudy470 words
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THE WORLD
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457 1994-05-07 5 Neville Stack - From Neville Stack in LONDON FOR the first time since the general election two years ago, the British electorate has had the chance to pronounce an interim verdict on John Major's government. And the result was a decisive thumbsdown. The election457 words
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344 1994-05-07 5 Bloomberg Business News WASHINGTON The Clinton administration wants to slash US financial contributions to future United Nations operations and seeks improved management of UN peacekeeping operations. Those were key points in the presentation on Thursday by National Security Adviser Anthony Lake ofBloomberg Business News - 344 words
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244 1994-05-07 5 AFP. Reuter ABU DHABI The civil war that flared in Yemen on Thursday is unlikely to affect the oil market because its production is relatively small and a large part of it is consumed locally, oil analysts said yesterday. DespiteAFP.; Reuter - 244 words
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Article, Illustration306 1994-05-07 5 Agnes Chen - From Agnes Chen in BONN SENIOR Minister Lee Kuan Yew and German Chancellor Helmut Kohl yesterday shared personal insights on the world's political Hash points, including North Korea. Russia and China-US relations. According to a Singapore official present at thePhoto by Chew Seng Kim of The Straits Times - 306 words
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225 1994-05-07 5 Reuter WARSAW Businessmen from East and West said yesterday that eastern and central Europe needed USS2OO billion (SS3I2 billion) in foreign investment before the year 2000 to help ensure the success of economic reforms. The statement, made at an East-West Business Forum, wasReuter - 225 words
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242 1994-05-07 5 AFP PARIS Billionaire financier George Soros was charged with insider dealing last year in connection with French bank Societe Generale, press reports said here on Thursday. L 'Evenvmcnt du Jeudi (Thursday's Event) said the charges laid against US-based Soros in March 1993 concernedAFP - 242 words
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WORLD WATCH
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94 1994-05-07 5 Reuter WASHINGTON The House of Representatives passed on I hursda\ a eompromise version of President Bill Clinton's fiscal ISWS I SSI.S trillion (552.34 trillion) budget, including a new USSI3 billion cut in spending over five >ears. The 22<>-183 %ote was along part\ lines. No RepublicansReuter - 94 words
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Article, Illustration28 1994-05-07 5 Reuter MOSCOW I ired Russian army conscripts having a snooze as they took a break from preparations for Victory Day celebrations in Moscow yesterdav. ReuterReuter - 28 words
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131 1994-05-07 5 AFP ABU DHABI Saudi Arabia's stock market is set to pick up sharply as low oil prices are forcing the government to give way to the private sector after decades of state domination, experts say Although the Saudi market is already the busiestAFP - 131 words
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78 1994-05-07 5 AP BRIDGETOWN. Barbados Cuban President Fidel Castro on Thursday accused rich nations of worsening the problems of poor countries through apathy and greed, and called for a redistribution of the world's wealth. "While the powerful are discussing the new world distribution, the small and poorAP - 78 words
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251 1994-05-07 5 NYT. NEW YORK Several of the nation's leading colleges have broken the USS 100.000 (*****.7(H)) barrier for a fouryear degree. Beginning next fall. Harvard freshmen will pay U5526.230 a year for tuition, fees, room and board, and Yale students will pay USS 120NYT. - 251 words
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Article1809 1994-05-07 5 Clft FEght m Flight ETC Amman RJ187 0130 Amsterdam SQ25 0630 KL844 0035 KL831 0935 KL838 2300 SQ324 2345 Auckland NZ21 1735 BA11 1505 SQ286 2040 NZ22 1825 Bahrain GF148 0905 B Sen Begawan BI421 1105 SQ182 0915 SQ181 1410 BI422 1205 BI429 2030 BI430 21251,809 words
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Page 5 Advertisements
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Advertisement186 1994-05-07 5 I Business Times/Kenny Rogers In Concert I I RESULTS I Congratulations to our winners! I I You have each won a pair of 120 tickets. I Lim Lye Gek *****15E I Wong Yoke Lin *****48G H H Jonathan Stanley Khoo *****74J H H Simon Chandrahason *****10 D H Bei\jamin Yeo186 words
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COMPANIES & MARKETS
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Article, Illustration322 1994-05-07 6 Dexter Lee - By Dexter Lee SINGAPORE Steamers Maritime Holdings is making a 567 million cash call to finance the expansion of its core businesses, especially shipping, warehousing and distribution. The Keppel Group member has proposed a one-for-four renounceable rights issue. A shareholder is entitled to buy322 words
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Article, Illustration107 1994-05-07 6 SINGAPORE Sembawang Shipyard has won shareholder approval to change its name to Sembawang Corporation Ltd and has reorganised its business into four sectors. Sembawang said yesterday shareholders approved the name-change at the company's annual general meeting on April 29. Sembawang has restructured its activities into107 words
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291 1994-05-07 6 SINGAPORE Nat Steel yesterday announced a S2O per tonne reduction in the price of its steel bars for the domestic market, the second time it has lowered prices in as many months. Nat Steel did not give any reason for the291 words
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731 1994-05-07 6 Joseph Rajendran - LG§9K SIEW By Joseph Rajendran SINGAPORE What is happening at Nat Steel Electronics that has got some analysts so excited? Vickers Ballas Investment Research and Nomura Research Institute are recommending the parent stock. Nat Steel. because they see a731 words
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341 1994-05-07 6 Loh Hui Yin - From I Loh Hui Yin in BANGKOK STAR Network, a subsidiary of Singapore Press Holdings, has set up a joint venture with a I hai partner to tap the market for film and video post production work here. Its partner341 words
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263 1994-05-07 6 Ho Kay Tat - From Ho Kay Tat in KUALA LUMPUR SAPURA Holdings filed a suit yesterday against Canada's Northern Telecom, seeking damages of M 521.4 million (5512.6 million) on grounds that it was unfairly and wrongly terminated as the Malaysian distributor for the latter's telecommunication263 words
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141 1994-05-07 6 Bernama KUALA LUMPUR Kemayan Oil Palm Bhd today announced several proposals, one of which involved the development of a golf and country resort in Seremban. In separate statements here today, Kemayan said its subsidiary. Kemayan Resources Sdn Bhd. wouid acquire 100 per centBernama - 141 words
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376 1994-05-07 6 Bernama KUALA LUMPUR Hicom Holdings Bhd is expected to record better growth from fiscal year 1996 onwards on prospects of increased infrastructure or telecom projects, a stockbroking house said. Apex Securities, in association with Jardine Fleming, said HHB. as a government-backedBernama - 376 words
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EYE on your STOCKS
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Article21 1994-05-07 6 For next week's i xpixUtl market sentiment, uv HI Sentiment Index on LI. 4 (Personal Finance A Investment section)21 words
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Article, Illustration149 1994-05-07 6 Paul Leo - -By Paul Leo INDUSTRIAL and Commercial Bank broke support at 55.80 yesterday to end at 55.75. Further weakness can be expected given the strong selling pressure. Yesterday's volume of 140.000 shares was nearly nine times the 10-day average of 16.000 units. There were 14 block deals totalling 118.000149 words
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239 1994-05-07 6 Bernama KUALA LUMPUR The Philippines Supreme Court has nullified the contract of lease entered into between the Philippine Charity Sweepstakes Office (PCSO) and Philippine Gaming Management Corporation (PGMC). an associate company of Berjava Group Bhd. A Berjava Group and Berjava Sports Toto BhdBernama - 239 words
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COMPANIES
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Article2160 1994-05-07 7 Payment fcx Books Fay date close date ABR Hldgs 5« F 9 Jun 29 Jul 5 Jul 15 Acma F 10 Jun 14 Jun 20 Jul 5 Bousicad 50* I 8.5 Apr 22 May 7 Jun 6 B Kaya F 5 May 24 Jun 8 Jul 7 Cathay Pac 20*2,160 words
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476 1994-05-07 7 Bernama KUALA LUMPUR The Securities Commission should play a bigger role in its market development function as the local market is very susceptible to overseas trends and often affected by the malaise that befalls other bourses. Former Kuala Lumpur Stock Exchange CommitteeBernama - 476 words
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331 1994-05-07 7 NST KUALA LUMPUR THE Bumiputra Stock exchange (BSE) will be folded up soon, ending its history of 25 years of dismal performance. Sources said yesterday that the decision to close down the bourse was made based on the recommendation by Majlis AmanahNST - 331 words
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184 1994-05-07 7 Reuter WELLINGTON Telecom Corp of New Zealand confirmed it is considering buying a 40 per cent stake in Philippine phone firm Digital Telecommunications Phils Inc (Digitel). A spokesman for Telecom NZ said it was only conducting a study at this stage.Reuter - 184 words
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COMPANY BRIEFS
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31 1994-05-07 7 SINGAPORE Sembawang Corp announced yesterday that Ng Kiat Chong and Lim Cheng Pah had retired from the company's board of directors with effect from April 29.31 words
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Article74 1994-05-07 7 MBT KUALA LUMPUR The deadline for acceptance of Sikap Power Sdn Bhd's bid for Malakoff Bhd has been set for May 26 at 4.30pm. Sikap has made an unconditional mandatory general offer to acquire 60.16 million shares of Msl each in Malakoff which it doesMBT - 74 words
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97 1994-05-07 7 NST KUALA LUMPUR Maika Holdings Bhd shareholders will finally be rewarded with a dividend payout following record profits by the group last year. The MlC's investment arm, which was in the red for five consecutive years, has returned to the black with a group pre-taxNST - 97 words
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Article36 1994-05-07 7 AFP MANILA Shangri-La Properties, a Philippine affiliate of the Kuok group of Malaysia, announced here yesterday it was planning to offer US$6O million (Ss93 million) in convertible bonds overseas this year. AFPAFP - 36 words
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80 1994-05-07 7 AFP MANILA The First Pacific Group of Hongkong yesterday denied reports that it would buy into the troubled national flag-carrier Philippine Airlines (PAL). Sources close to Philippine President Fidel Ramos said earlier this week that Manila would prefer to sell its minority stake inAFP - 80 words
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216 1994-05-07 7 Bloomberg Business News BANGKOK Jasmine International pic, a Bangkok-based telecommunications company, yesterday named SG Warburg Securities and Phatra Thanakit as lead underwriters for its initial public share offering (IPO). A total of 11.2 million shares will be sold to local and foreignBloomberg Business News - 216 words
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COMPANY BRIEFS
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Article90 1994-05-07 8 NYT NEW YORK The New York Stock Exchange* will make it possible for most companies with differing classes of common stock to be listed on the exchange. Under a new rule, which is subject to approval by the Securities and Exchange Commission, the Big BoardNYT - 90 words
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Article43 1994-05-07 8 Bloomberg Business News HONGKONG Beijing Power Generation Co plans to raise up to USS6OO million (***** million) through a Hongkong stock market listing to finance two new power plants, the South China Morning Post reported. Bloomberg Business NewsBloomberg Business News - 43 words
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59 1994-05-07 8 Bloomberg Business News LONDON Reaping the benefits of aggressive expansion in the US, Body Shop International pic said its pre-tax profit rose 38 per cent in the year ended Feb 28. Body Shop, a London-based retailer of natural cosmetics, lifted its pre-tax profit toBloomberg Business News - 59 words
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Article54 1994-05-07 8 Bloomberg Business News WELLINGTON Telecom Corp of New Zealand said it will adopt an executive share option programme "as part of the company's strategy for ongoing growth and increasing shareholder value". The phone company said it will invite existing or prospective senior executives to participateBloomberg Business News - 54 words
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46 1994-05-07 8 Bloomberg Business News NEW YORK Colgate-Palmolive Co chairman Reuben Mark said he expected it to meet earnings estimates for this year of USS3.B3 a share, based on the mean estimate of 22 analysts surveyed by Institutional Brokers Estimate System. BloombergBloomberg Business News - 46 words
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261 1994-05-07 8 Reuter NEW YORK Blockbuster Entertainment Corp's multi-billion-dollar merger with cable TV programmer Viacom lnc may fail to be completed. Blockbuster chairman Wayne Huizenga conceded on Thursday. Mr Huizenga. in a letter to shareholders, said that he could not be sure that shareholders ofReuter - 261 words
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470 1994-05-07 8 Genevieve Cua - By Genevieve Cua SINGAPORE British Telecom may seek a third equity partner for its USSI billion (SS 1.55 billion) global alliance with United States-based MCI. possibly a "major player" from the Asia-Pacific region. BT's manager for global marketing. Gerry Spencer, says470 words
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153 1994-05-07 8 Reuter PITTSBURGH HJ Heinz Co and other major American food companies have quickened their acquisition pace overseas where the growth opportunities are greater than in the US. analysts said. Heinz this week said it would invest in South Africa by year-end. On Thursday, the WallReuter - 153 words
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Article, Illustration500 1994-05-07 8 Reuter SYDNEY An AustralianUnited States consortium beat a group led by Australia's richest man Kerry Packer to win the right to build and operate a huge casino complex in Sydney. the New South Wales government announced yesterday. Australian construction group LeightonReuter; AFP - 500 words
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SHIPS IN PORT
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Article697 1994-05-07 8 Vessel Voy No Berth Arrival Departure Vessel Voy No Berth Arrival Departure Jurong Port Sam Houston WA134" P02 alongside 06 05 2100 Batam Bahagia 05 02 94 J1 alongside 0705 2300 Sempurnaia»a *****4 P01A alongside 07 05 2300 Batam Baru B321 19 alongside 0705.2100 Sri Puiut 07697 words
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Article2278 1994-05-07 8 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rslts Ship Voy No Etb/Btr Period From To From AliiC063W 09 0100 2A 06 1700 0/ 0659 07 0900 3 07 0700 07/1159 07 1400 4 07 1200 07 14592,278 words
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FINANCE & COMMODITIES
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542 1994-05-07 10 Central hanks will find it difficult to break up relationship: analysts Reuter LONDON The US dollar is locked in a bear hug with the world's government bond markets and central banks will have a tough task breaking up the relationship, analysts say.Reuter - 542 words
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Article, Illustration405 1994-05-07 10 DBS Bank weekly currency review US$/DM: more correction? US$/Deutschemark continued to fall early this week, trading to a low of 1.6320 by Wednesday. After intervention by central banks, it recovered to 1.6645 the same day to hit 1.6775, 1.6860, 1.6970 and final resistance405 words
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372 1994-05-07 10 AFP JAKARTA The government has allowed the state-oil firm Pertamina to borrow US$l billion from foreign banks to fund the development of its oil refinery capacity, it was reported here yesterday. Pertamina's processing director, Atihuta, was quoted by KompasAFP - 372 words
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SMALL CHANGE
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69 1994-05-07 10 Bloomberg Business News HONGKONG The Hongkong Association of Banks decided yesterday to leave deposit rates unchanged at the territory's banks. Representatives of the 12-member association meet every Friday to decide whether to change interest rates paid on bank deposits. Investors and analysts expect Hongkong'sBloomberg Business News - 69 words
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79 1994-05-07 10 Bloomberg Business News NEW YORK The Beijing Municipal Government and ING Luxfund Management (Hongkong) hope to raise as much as US$7O million (SSIO9 million) for a fund to invest in unlisted Chinese companies, the Emerging Markets Week newsletter reported. The fund will beBloomberg Business News - 79 words
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61 1994-05-07 10 Bloomberg Business News BANGKOK Thai Farmers Bank and Krung Thai Bank, the country's second and third largest commercial banks, raised their prime lending rates one-quarter percentage point to 10.5 per cent. Krung Thai also raised the rate it pays on general savingsBloomberg Business News - 61 words
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83 1994-05-07 10 AFP LONDON Lloyd's underwriters and other insurers face a payout of at least £11 million (5525.6 million) following the death of Formula One Brazilian driver Ayrton Senna, the Financial Times said yesterday. The personal accident payout after Senna's fatal crash at the San MarinoAFP - 83 words
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Article77 1994-05-07 10 Reuter STRASBOURG. France The European Parliament give its final seal of approval to a compromise it struck with European Union governments on a system of minimum protection for bank depositors in the EU. The deposit guarantee scheme proposal which has now to be formalised by EU financeReuter - 77 words
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196 1994-05-07 10 SINGAPORE: Keppel Bank will increase its prime lending rate by 0.25 percentage point to 5.75 per cent from today. It has also increased its rates for fixed deposits. Moneymax and savings accounts, by between 0.25 and 0.75 percentage points.196 words
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332 1994-05-07 10 FT LONDON The liquidators of the collapsed Bank of Credit and Commerce International are suing the bank's directors for failing in their duties, it emerged on Thursday. The action is significant because it is the first move against the board members of BCCI, which wasFT - 332 words
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Article165 1994-05-07 10 Bloomberg Business News LONDON A massive effort by the world's leading economies to support a weakening dollar on Wednesday was "part of a larger strategy" to defend global currency stability, two European monetary officials said yesterday. One official said it was part of an organised effort to establish aBloomberg Business News - 165 words
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175 1994-05-07 10 KnightRidder LONDON Opec crude oil production averaged at 24.70 million barrels per day in 1993, some 650,000 bpd higher than 1992, according to the Opec News Agency. According to the 1993 Opec Annual Report issued by the organisation's Secretariat, output increasesKnight- Ridder - 175 words
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Article77 1994-05-07 10 AFP NEW YORK The dollar, buoyed by Federal Reserve intervention earlier this week and better-than-expected unemployment figures for April announced yesterday, climbed against other major currencies. At 9:25 am (1325 GMT), the dollar traded at 1.6718 marks against 1.6675 on Thursday and at 103.05 yen against 102.85. TheAFP - 77 words
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Article, Illustration1741 1994-05-07 10 Ziui/t-m /tf/i.Vi/ intlti idktilahil jfiain\l S'panf'% tup 14 iraJwn part run Ha\e year: I9&S USS/SS forward rates Noon May 6 s$ Bid Offer 1-month 1 5570 ***** 2-monlh 1.5571 1 5586 J-monih 1.5572 1.5587 6-month 1.5575 1.5595 Sounr OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES As at 9am on May1,741 words
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COMMODITIES & FUTURES
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1339 1994-05-07 11 SIMEX REPORT Reuter SINGAPORE Simex Euroyen and Eurodollar futures ended lower in light trade yesterday. Dealers said the Euroyen was lower on the back of a weaker yen as Tokyo traders began getting back to work after their Golden Week holidays from TuesdayReuter - 1,339 words
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578 1994-05-07 11 COMMODITY REPORTS Rubber SINGAPORE: Rubber futures closed unchanged to marginally higher on short-covering and consumer buying but most gains were limited to the sheet grades, brokers said. They said afternoon RSS3 prices were lifted by late buying from a major European consumer. By the close.578 words
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KNIGHT-RIDDER COMMODITY SUMMARY
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78 1994-05-07 11 JOHANNESBURG South Africa's Kloof gold mine has been hit by another worker strike, after two separate strikes in March which saw production halted for nearly one week. Marion Brower. spokeswoman for Kloof owner Gold Fields, said workers went on strike on Thursday night, and78 words
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Article99 1994-05-07 11 TOKYO Domestic copper futures prices on the Shanghai Metal Exchange have surged in recent days, but rising London Metal Exchange prices should keep Chinese buyers out of the market, say traders. The price for the May futures contract on the Shanghai exchange has risen to 20.100 yuan99 words
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100 1994-05-07 11 TOKYO In a move to let its long-festering dissatisfaction with the quality of Chinese corn he known, the Korea Feed Association announced during a board meeting last week that it will suspend corn buying from China indefinitely and seek other origins to cover100 words
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Article80 1994-05-07 11 SYDNEY' MIM Holdings Ltd has broken ranks with other Australian miners and negotiated to pav Japanese zinc smelters an average of USSI77 a tonne in smelting fees. Rival mining houses have vowed to hold out for lower fees, but concede MlM's decision to settle will make80 words
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Article1510 1994-05-07 11 Rubber Singapore Commodity Exchange (futures closing as at 5.30pm) RSS 1 Contract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Jun 94 154.75 153.75 154 25 1475 2275 Jul 154.00 3350 Aug 154.50 154.50 154.00 100 2025 Sep 154 00 2025 Oct/Dcc 155.00 154.00 154.751,510 words
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REGIONAL STOCK MARKETS
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Article1117 1994-05-07 12 16.2 STOCKS closed stronger yesterday. lifted by selective bargain hunting in the wake of Thurs day's sell-off. The All Ordinaries index, ending a run of five days of consecutive losses, closed 16.2 points higher at 2.004.3. Brokers said a less volatile bond market and stronger futures trading also helped1,117 words
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Article585 1994-05-07 12 •19.77 Philippine share prices dipped for the second straight day, dragged down by phone stock PLDT's lower first quarter earnings. brokers said. The composite index fell 19.77 points to 2.960 or 0.66 per cent from the 2.9X0 points posted on Thursday when the market fell 2.74 per cent. PLOT585 words
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Article606 1994-05-07 12 +36.5 The Taiwan stock index finished oft* early highs and turnover fell over caution ahead of the strong 6.000-point resistance, brokers said. The index rose 36.50 points, or 0.62 per cent, to end at 5.953.27. off a high of 5.992.64. Sectors ended mixed. Turnover fell to NT570.47 billion from606 words
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Article390 1994-05-07 12 +5.51 A late spurt of institutional buying of primary blue chips pushed stock prices to close* higher after fluctuating mildly, brokers said. The composite stock index added 5.51 points to 927.84. Advances led declines hv 441 to 296. Both Samsung Electronics and steelmaker Posco gained 4(H) won each to390 words
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Article339 1994-05-07 12 35.59 New Zealand shares clawed back about half of Thursday's losses, aided mostly by partial recoveries in lelecom and Fletcher Challenge. Telecom ended 14 cents higher after falling 28 cents on Thursday, ending yesterday's session at NZ$4.BO. Fletcher Challenge regained II of its 12cent loss, closing at NZ53.44.339 words
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Article62 1994-05-07 12 13.76 Share prices recovered from the day's lows on buying by Indian mutual funds and brokers on the expectation that the banned carry forward or badla trading system will be re-introduced soon, brokers said. The Bombay Stock Exchange 30-share index was up 13.76 points to close at a provisional62 words
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WORLD STOCK MARKETS
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Article770 1994-05-07 12 (inch SHARES rallied towards the end of a volatile day yesterday, leaving the FTSE 100 index unchanged at 3,106.0 despite sharp falls in bonds and US stocks. The market in the morning was unmoved by the dismal performance by Prime Minister John Major's Conservatives in local elections on Thursday,770 words
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Article135 1994-05-07 12 -4.4 French shares ended the session weaker but managed to reduce earlier losses at the end of the session as bond futures rose. The CAC-40 index reached a session low of 2,127.64 points as US unemployment data prompted fears of more rate rises in the United States, then recovered135 words
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Article97 1994-05-07 12 -1.05 pc Swedish shares ended the week sharply lower in quiet trade. The bourse continued to be rate-ruled and followed Europe lower as bond yields rose in reaction to the US April unemployment data. The OMX-index was down 1.05 per cent at 1.156.66 in healthy turnover of 2.890 billion97 words
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Article179 1994-05-07 12 1.18 German share prices sliped back in the last few minutes of trade on position-squar-ing. but still closed with a small gain on the day. Dealers forecast the DAX index will stay above 2.230 at the start of next week, while the market waited for new factors to draw179 words
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Article162 1994-05-07 12 -6.06 Sharp opening losses on Wall Street following a dive in US Treasury bonds after the announcement of a higher-than-expected rise in US non-farm payrolls, pushed Belgian shares to a lower close. They had been in positive territory for most of the day. Traders said they expec- ted the162 words
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Article166 1994-05-07 12 +378 The main index of Italian stocks soared 3 per cent as the squabbling right-wing political parties resolved the dispute preventing them forming a government. The Milan market's blue-chip Mibtel Index rose 3.0 per cent, or 378 points, to 12,800. The index tumbled 2.9 per cent on Wednesday when166 words
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Article230 1994-05-07 12 +3.13 Dutch shares edged higher at midscssion yesterday, the AEX index gaining 3.13 points at 413.86, as dollar driven recovery of blue chips dominated upbeat sentiment. Next to the dollar, higher oil prices due to the Yemen conflict pushed Royal Dutch shares to 205.80 guilders, up ,5.10. Amsterdam May230 words
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Article279 1994-05-07 12 -40.8 Swiss stocks plunged to their lowest level in six months after strong US jobs data reinforced beliefs the Federal Reserve will soon move to raise interest rates for the fourth time this year. The Swiss Market Index, or SMI, which tracks the top 22 blue chip stocks, closed279 words
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Article270 1994-05-07 12 164 Industrials closed well up on the final election outcome. with the news reversing the earlier gold share decline on weaker bullion. The overall index ended 77 points up at 5.308, industrial index added 164 points at 6.513 and gold index closed seven points up at 1,826. Johannesburg Ma>270 words
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Article317 1994-05-07 12 -25.69 Toronto stocks continued to fall at midday yesterday, pulled lower by a plunging bond market in the wake of stronger US jobs data released earlier yesterday. Almost all sectors suffered losses at noon, except the precious metals group which surged on stronger gold prices. The TSE 300 composite317 words
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Article760 1994-05-07 12 -41.35 Wall Street stocks fell sharply yesterday, hit by a deep selloff in the bond market that was fanned by inflationary fears. The Dow Jones Industrial Average was down 41.35 points, or 1.1 per cent, to 3.654.62 at 1 pm EDT. with losers pounding gainers by a 6-1760 words
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Article621 1994-05-07 12 Vienna Nla> 6 A%ch mm m ii Bank \uslnjlPl WA 5 onslinlu I OS) 5 F lugtulrn 47? •J Lriuing i;*J X Lokaia 432 J Siorr-DP 2U -1 Siriha» l"» VrM«.hCT 355 uiKh Wiciki1*H 3*15 W bmr Hani tusim Ikin tin lull Nasdaq Mav 5 +T Adolph iion Bir«ing 19621 words
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Article, Illustration3163 1994-05-07 13 Bloomberg Business News HONGKONG Stocks rose in slow trading as investors looked for good value among shares that have fallen to prices lower than what their earnings prospects warrant. Hongkong stocks look extremely attractive because they are trading at prices that are 12 times 1994 earnings and about 10Bloomberg Business News; Source: Bridge Info - 3,163 words
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Article, Illustration560 1994-05-07 13 THE markets became directionless after the government dispelled the rumours on Deng Xiaoping's health. The Shanghai exchange faced a computer breakdown for a while, but neither this nor the 1 per cent fall in its A shares could stop the B shares' climb. Two smaller stocks China Textile Machinery560 words
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Article, Illustration2579 1994-05-07 13 Bloomberg Business News TOKYO Stocks reversed two days of declines amid optimism that the dollar is stabilising, thanks to the efforts from central banks to shore it up against the yen, traders said. The benchmark Nikkei 225 Stock Average closed up 292.26 points, or 1.49 per cent, to 19,862.47.Bloomberg Business News; Source: Bridge Info - 2,579 words
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Article, Illustration1817 1994-05-07 13 Bloomberg Business News BANGKOK Thai shares declined for the fifth straight day yesterday as two major banks raised their lending rates one-quarter of a percentage point, analysts said. "With interest rates going up, people are losing confidence in the market." said Tat Gindavichu, marketing manager for Thai Summit FinanceBloomberg Business News; Source: Bridge Info - 1,817 words
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Article, Illustration1171 1994-05-07 13 Reuter JAKARTA Share prices closed mixed in dull trading yesterday with investors preferring to sit tight on their buy and sell orders, brokers said. The composite index ended at 463.12, 0.57 point higher. "Investors will have to change their expectations about this market and become a little more flexible,Reuter; Source: Bridge Info - 1,171 words
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Article2751 1994-05-07 14 MOST ACTIVE volume Mulphj lull 50c l.XM.OUO Idris H>d 50c J.tWM OOO F.\rB 50c 2.107 UK) ProflKl I SM (MM) kamunting 50c 1.727.000 Muk i-Purpose 1.*****0 Lien Hue TSR">7 1.137 000 Kcnong Bhd 50c I.1IMXJ0 Bcrjaya Ind 1.274.000 kemavan 50c 1.267,000 AM OB 50c 1.057.000 Scl Drcdg 50c2,751 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration5829 1994-05-07 14 Bernama KUALA LUMPUR Share prices closed lower on the Kuala Lumpur Stock Exchange yesterday hut away from their lows when bargain-hunting emerged towards the end. The broader market was easier where losses led gains by 200 to 139 with 101 traded unchanged. But gainsBernama; Source: Bridge Info - 5,829 words
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STOCK EXCHANGE OF SINGAPORE
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Article7277 1994-05-07 15 1994 Lmi Vol Day Last Qwlr Di» Di« VM Net M Caf High Low Company Sale ("000) High Low Bayer Setter S C»r S ft Sail INDUSTRIAL AND COMMERCIAL 1350 206 ts Acma 920 cd -IS 33 930 915 910 920 17.5 2.1 1 9 14.7 634 1 700 2207,277 words
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Article, Illustration1902 1994-05-07 16 R Sivanithy - By R Sivanithy SINGAPORE Share prices fell for the third day running yesterday, as investors stayed on the sidelines ahead of the release of US employment data overnight. The Straits Times Industrials Index finished 21.55 points lower at 2,256.19, theCharts by Bridge Info; Source: Bloomberg - 1,902 words
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Advertisement176 1994-05-07 6 NEWS VALUE How today 's new s might affix t your stinks Alan Yeo loses battle to sell YHS to Wing Tal (pg 1) The play on YHS shares looks like over, with the counter's price closing below $3.33 for the second successive day yesterday. IRAS checking tax returns of176 words
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Advertisement1122 1994-05-07 7 JURONG SHIPYARD LIMITED (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 31st Annual General Meeting of the Company will be held at its Registered Office, 5 Jalan Samulun, Singapore 2262, on Saturday 28 May 1994 at 11.00 am, for the following1,122 words
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Advertisement511 1994-05-07 9 the x. C II LINKED BY AN UNDERPASS TO X# ■f^| > I EAST COAST PARK AND EAST COAST LAGOON IV 1 lII# j NEXT TO BAYSHORE PARK Vk V The ULTIMATE Condominium The ULTIMATE Lifestyle Grand Luxurious SeaviewCondominium no restriction on foreigners iIH II The Bayshore is about waterfront511 words
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Page 11 Advertisements
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Advertisement260 1994-05-07 11 BUSINESS TIMES TOLL-FREE TEL No 1-000-741-1883 FAX 741-1296 LIQUOR LICENCE NOTICE NOTICE IS HEREBY GIVEN that I. Ong Siong Lan of 21 Sunset Square, Singapore 2159, have applied for a Public House Ist Class Licence in respect of premises at M/s Coffee Club at 27 Lorong Mambong, Singapore 1027, and260 words
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Advertisement51 1994-05-07 11 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead. w JUST CALL 737-1166 Make the connection through The Straits Tiroes Classified when you're looking for bargains or looking for customers. I T Just give as CJLTJ. a cal1 j51 words
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Advertisement51 1994-05-07 12 SINGAPORE Business Times Wt KNOW ASIA Address Mail or fax this form to: Postal Code: Customer Relations Section Circulation Department m Singapore Press Holdings Limited 82 Genting Lane Occupation Fax lf|l£ §p®g m News Centre Singapore 1334 Tel: 1800-749 2577 Fax 744 4875 Tel: (O) (H) f i* <\ lUij51 words
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Page 13 Advertisements
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Advertisement39 1994-05-07 13 ACTAL NEUTRALISES STOMACH ACID. Actal neutralises stomach acid, giving r quick relief from stomach discomfort, FAST-ACTING ANTACID 3 J&j. Sterling 9 astr 'C pain, indiges- ReucvcsGASTm c Pm M I y? Health tion and heartburn. MAnwnH j I s39 words
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Advertisement97 1994-05-07 14 I iiiaiiilii 1 ■>* 4l^. u M «*"o(S> P ***** I' 4" Tele,ex, l M 82-795/9 PIP TOP(N»cam Stereo) ST 70-655/8 text (Nicam Stereo) E-72-911 TOP (Nicam Stereo) p 3 7 (Designed by FA Porsche) M/i* #*&!■>«■« mSm'-. f Bm.ll 11 AVAILABLE AT ALL LEADING ELECTRICAL DEALERS as Whether its97 words
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Advertisement0 1994-05-07 14 /\"?_,%\(>%;~)%?%[:{$>&=;*/`?>]0 words
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Advertisement87 1994-05-07 15 Every time you spend $50 on your MasterCard (ar| i your name goes into a lucky draw in which HHpplNplHMHfll we're giving away three Business class return tickets for two to the 1994 World Cup Finals* plus $5,000 spending money. mm The lucky draw will be held on June J87 words
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Page 16 Advertisements
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Advertisement431 1994-05-07 16 JEL JURONG ENGINEERING LIMITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT NOTICE IS HEREBY GIVEN that the 23rd Annual General Meeting of the Company will be held at the Conference Room, 25 Tanjong Kling Road, Singapore 2262, on Wednesday, 18 May 1994 at 10.00 a.m. NOTICE IS ALSO HEREBY GIVEN431 words
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Advertisement223 1994-05-07 16 IN THE MATTER OF THE COMPANIES ACT, CHAPTER SO ANO IN THE MATTER OF LIBITINA TRADING PTE LTD (IN MEMBERS' VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN pursuant to Section 308 of The Companies Act. Chapter 50 that the Final Meeting of the members of the abovenamed company will be held223 words
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Advertisement20 1994-05-07 16 EFFECTIVE RECRUITMENT ADVERTISING. ITS ONLY A CALL AWAY.*. To advertise your Appointments or Notices, caM toll-free 1-800-741-1883 prim Btfiu Tim—20 words
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Advertisement410 1994-05-07 16 TOLL-FREE TEL. No. 1-800-741-1883 FAX:74I-1298 NOTICE NOTICE IS HEREBY GIVEN that, I Loh Foo Chong of Blk D Winstedt Road Unit 3 Singapore (0922), have applied for a Ist Class Public House Liquor Licence in respect of premises at M/s Velvet Underground at 9 Bishan Place, Junction 8 #02-22 Singapore410 words
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Advertisement361 1994-05-07 16 NOTICE IS HEREBY GIVEN that. I. Foo Chit Seng of Blk 717 #10-4544, Bcdok Reservoir Road, Singapore 1647, have applied for a Public House, First Class Licence in respect ot premises at M/S PUB ELEVEN at 30, East Coast Road, Paramount Hotel Shopping Centre #01-11, Singapore 1542, and that this361 words
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Advertisement27 1994-05-07 16 f I THE NEW PAPER FAST ADS HJNCH ODE Make Lunch Guide Your Lunch Dacei The most delicious ideas are served in Lunch Guide, every Monday. W&Ls27 words
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Executive Lifestyle
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Article, Illustration1710 1994-05-07 17 Shahiron Sahari - Paul Hogan tells Shahiron Sahari how he mixes art and business in his filmmaking career Shahiron Sahari LAST month, the big issue making the headlines was one raised by Senior Minister Lee Kuan Yew that Australia should increase its understanding of Asia and be part1,710 words
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STRAWS IN THE WIND
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Article58 1994-05-07 17 THE RECENT bar codescanning controversy has given rise to a lot of jittery cashiers at Cold Storage. One wellmeaning shopper was trying to help pass her groceries to one cashier when the latter shrieked in protest: "No no, don't put so close to the scanner. wait it58 words
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Article69 1994-05-07 17 WE HEARD last week of Afia Asean Free Food Area a spinoff from the Asean Free Trade Area. At the Inter-Pacif-ic Bar Association conference this week, another version of Afta emerged Thai economist Narongchai Akrasanee. who was involved in the birth of the Afta concept, recalled how officials69 words
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Article47 1994-05-07 17 HERE'S one taxi-driver's opinion of the Michael Fay caning case, and of US presidents in particular: "Clinton is stupid, the most powerful man letting people use him. Bush is smart he doesn't say anything. Even the cowboy president knows how to behave like a president."47 words
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OPINIONS
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Article, Illustration909 1994-05-07 18 Neville Stack - Neville Stack says the French are waging a losing war in frantically trying to keep English from 'corrupting' their language Neville Stack The writer is a political commentator based in London. He writes regularly for BT. IN ANCIENT times, an English king named Canute had his throne placed909 words
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Article783 1994-05-07 18 Clayton Yeutter - Clayton Yeutter assesses what the Uruguay Round achieved and what it didn't Clayton Yeutter The writer was i'S Trade Representative from 1985-88 and now works for a Washington law firm This commentary first appeared in International Economic Insight, published by the Institute for International Economics.783 words
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Article, Illustration1173 1994-05-07 18 Brian Gomez - Brian Gomez finds the new economic package a clever Labor ploy to take credit for growth which was imminent anyway Brian Gomez The writer is based in Sydney and contributes regularly to BT AUSTRALIAN Prime Minister Paul Keating's A1,173 words
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VIEWPOINT
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Article, Illustration2098 1994-05-07 19 Margaret Thomas - fK THE RAFFLES Tcon^sation McDonald's Robert Kwan tells Margaret Thomas why he believes that in today's world, a business leader must be an environmental leader as well. And why Singapore is in a unique position to become a model city for the environmental effort Margaret Thomas RobertPhoto by Chris Loh - 2,098 words
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Article800 1994-05-07 19 McDonald's says it has a responsibility to protect the environment for future generations THINK of the green movement and you think of a healthy lifestyle fresh air and exercise; a wholesome diet of vegetables, grains, and fruits. Careful recycling and conservation. Fast food, meanwhile, is synonymous800 words
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Article721 1994-05-07 19 THIS newspaper may not be as biodegradable as you think, says Robert Kwan. "If you dig up a newspaper that's 100 years old, it's still there pretty much intact. The only thing that's happened is that it has bleached away some of its inks and chemicals721 words
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PERSONAL FINANCE & INVESTMENT
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BULLS EYE
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Article, Illustration56 1994-05-07 20 Those polled on their views of the Singapore stock market for the week ahead: Alliance Securities, Baring Securities, Daiwa Securities, Fraser, Gk Goh, Morgan Grenfell Asia Securities, Nomura Research Institute. Peregrine Securities. Schroder Securities, Smith New Court, Tat Lee Securities, LOB Securities, WI Carr and56 words
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Article265 1994-05-07 20 Alliance Securities (April 29) Lim Kah .Ngam. Buy for the bonus issue and subscribe for the warrant. LKN has proposed a l-for-3 bonus issue and 3 warrants-for-every-10 shares at 25 cents each. Property development will sustain income for next two years. Company has also entered into a joint-venture with265 words
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Article, Illustration96 1994-05-07 20 Morgan Grenfell Asia Securities We are expecting volatility to continue in the next few weeks. The main worry will continue to be over US interest rates. Trading at PERs of 25.7 times and 22.3 times for 1994 and 1995, the overall Malaysian equity market cannotSource: Bloomberg - 96 words
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Article, Illustration243 1994-05-07 20 Kevin Scully - Kevin Scully Research director Schroder Securities (S) 4 "X espite the recent I W correction in global equity markets, it is difficult to envisage that we are in a bear market given that the global economy is showing more robust growth which will eventually be translated into243 words
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Article61 1994-05-07 20 IN A table accompanying the article A Jew surprises in store on local interest rate scene, published in BT's Personal Investment and Finance page last Saturday, we stated that the Overseas Union Bank is paying 3.375 per cent for fixed deposits of 12 months and above. This is incorrect.61 words
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Article, Illustration1068 1994-05-07 20 Shiv Taneja - Shiv Taneja shows you how to use the price earnings ratio to assess the value of a share Shiv Taneja YOU NEEDNT be an expert to know that irrespective of what comes of the Yeo Hiap Scng/Wing Tai Holdings "now on, now off'1,068 words
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Article, Illustration118 1994-05-07 20 Market capitalisation of more than $1 billion Market capitalisation is defined as the number of shares multiplied by the market price. This is used as a filter for companies that are perceived by the investor to be of high worth. Positive earnings growth for threeSource: INVESTAMATIC - 118 words
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Article, Illustration580 1994-05-07 20 Najeeb Jarhom - CHART By Najeeb Jarhom The writer is research manager of Fraser Securities INSTITUTIONAL buying of blue chips and widespread interest in proper-ty-related stocks in addition to takeover situations have lifted the Straits Times Industrials Index well above its danger zone at around the 2,000-2,050Source: Fraser Securities - 580 words
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Article, Illustration503 1994-05-07 20 Paul Leo - Spotlight currency By Paul Leo HERE'S an economic quiz: take a country whose interest rates are on the rise while those of other countries are declining. Its economy is believed to be coming out of a recession or at least ahead of other countries inSource: TeleTrac - 503 words
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Article, Illustration1036 1994-05-07 21 Corinne Kerk - By Corinne Kerk HBM PRINT'S initial public offer did not exactly stir up exc i t e m en t amongst market watchers, due to what is perceived as tight margins and intense competition in the industry. However, just as there are reasons to be1,036 words
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Article, Illustration804 1994-05-07 21 But federal health care reforms will also affect trend of share prices AP TWO DAYS' worth of big merger deals in the health care industry may be whetting some investors' appetites for stocks in this embattled sector. But theAP - 804 words
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631 1994-05-07 21 Bloomberg Business News US INVESTORS grew more pessimistic last month, both over their ability to save and about putting what money they do have into stocks, according to a monthly survey of investors' intentions. The May Index of Investment Intentions compiled between April 15Bloomberg Business News - 631 words
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Article, Illustration497 1994-05-07 21 Shahiron Sahari - BT Golf Index By Shahiron Sahari THE BT Golf Index, which went up a little in March after six months of decreases, fell again in April but only slightly. The index, which tracks the membership prices of eight local golf and country497 words
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Article, Illustration626 1994-05-07 22 SUSAN TSANG - Cinema Review By SUSAN TSANG INTERSECTION' opens with Richard Gere driving down a road in Vancouver, silver mane flying happily. Up ahead, a minivan blocks his Mercedes, and a monster lorry lurks on the other side. As his life flashes before his eyes, we see the opening626 words
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Article, Illustration1106 1994-05-07 22 Samuel Ee - Pirelli unveiled an innovation in high-performance tvres in Amsterdam last month. Samuel Ee was I there and. in a subsequent factory tour in England, saw for himself the technology behind the wheel Samuel Ee WHEN Pirelli invented the low-profile tyre in the 1975. critics hailed it as a1,106 words
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Article153 1994-05-07 22 APART from being round and black, the ideal tyre should also produce: Good handling in wet conditions. The tread pattern is important as certain designs disperse water better, hence avoiding aquaplaning. Good cornering. The height of the tyre sidewall is important: the lower the153 words
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Article, Illustration913 1994-05-07 22 IT WAS a sunny April morning when 555 Subaru World Rally Team driver Richard Burns took time out to demonstrate why the phrase "world class driver" is usually prefixed to his name. t Burns. 23. is the youngest913 words
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Article, Illustration649 1994-05-07 23 CHUANG PECK MING - Book Review By CHUANG PECK MING The 'I ears Of M> Soul B> kim Hyun Hee William Morrow and Company, New \ork 183 pages. LSS18 REMEMBER Kim Hyun Hee? She's the stunning North Korean spy who blew up Korean Air Lines Flight 858 in 198~\ killing 115649 words
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SPORTS
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Article, Illustration460 1994-05-07 24 Golf AFP ST MELLION, England Seve Ballesteros was back in the hunt for a tournament victory after more than two years, as he shared a first-round lead here on Thursday. In his first appearance at the tricky Cornish course for four years,AFP - 460 words
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SPORT SHORTS
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Article, Illustration118 1994-05-07 24 AFP CINCINNA TI I, Ohio Defensive lineman Dan "Big Daddy" Wilkinson, the top choice in last month's NFL draft, signed a USS 14.46 million (5522.6 million) deal with the Cincinnati Bengals on Thursday. The signing came 11 days after the draft, concluding one of the quickest negotiations ofAFP - 118 words
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Article, Illustration36 1994-05-07 24 NEW YORK Major league Thursday National: Cincinnati 6 Houston 8 (in 10): Florida 5 Philadelphia 0; St Louis 1 NY 8: SF 6 LA 9. American: Toronto 9 Kansas Citv 11; California 4 Oakland 3.36 words
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Article, Illustration35 1994-05-07 24 NEW YORK NBA first-round playoffs Thursday Eastern Conference: Miami 89 Atlanta 103 (Best-of-five series tied 2-2). Western Conference: Denver 94 Seattle 85 (OT) (Series tied 2-2): Utah 95 San Antonio 90 (Utah wins 3-1).35 words
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Article, Illustration76 1994-05-07 24 AFP ATLANTIC CI TY, Ne» Jersey Britain's Lennox Lewis weighed in at 106 kg here on Thursday for his World Boxing Council heavyweight title fight against Phil Jackson on Friday. Lewis, who is 13 cm taller than Jackson, was 8 kg heavier than the challenger. "That's exactly what IAFP - 76 words
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Article, Illustration197 1994-05-07 24 AP WILMINGTON, Delaware Wiebren Veenstra of the Netherlands emerged from a pack of more than 100 riders on Thursday to win the first stage of the Tour DuPont by two lengths and Raul Alcala of Mexico recovered from a late crash to maintain his race lead. Veenstra. who wonAP - 197 words
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Article, Illustration154 1994-05-07 24 AFP MARIETTA, Georgia Tom Kite and Hal Sutton shared the lead on six-under-par 66 here on Thursday, thanks to a two-stroke swing at their final first round-hole at the Bell South Classic golf tournament. Kite, who won this tournament in 1992. the same >ear he won the US Open,AFP - 154 words
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Article, Illustration28 1994-05-07 24 NEW YORK Stanley Cup Eastern Conference semifinals Thursday: NY Rangers 3 Washington 0 (NY leads best-of-seven series 3-0); New Jersey 4 Boston 2 (Boston leads 2-1).28 words
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Article, Illustration89 1994-05-07 24 AP NEW YORK Fans at the soceer World Cup in the United States may get all wet this summer. Umbrellas won't be allowed at games and will be confiscated if fans attempt to bring them. World Cup olVicials said in a letter sent to ticket holders. In addition, movieAP - 89 words
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Article, Illustration122 1994-05-07 24 AFP NEW DELHI Taiwan clinched the last Asia-Oceania berth in the Federation Cup by defeating New Zealand 2-1 in the final of the qualifying tournament here yesterday. Australia. Japan. China. Indonesia and South Korea are the other teams from the Asia-Oceania zone which have been given direct entries inAFP - 122 words
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Article, Illustration515 1994-05-07 24 AP NEW YORK The matchup between the first and eighth seeds in each conference usually shapes up as a mismateh in the first round of the National Basketball Association playoffs. Not this year. Top-seeded Seattle and Atlanta both will go to fifth and deeiding gamesAP; AFP - 515 words
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427 1994-05-07 24 Michael Karem - By Michael Karem The writer is a Londonbased freelance journalist who comribmed this article to BT THE meeting of the FIA. motorsport's governing body, in Paris on Wednesday, did nothing to clear up uncertainty in the sport following the deaths of427 words
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PEOPLE
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Article, Illustration211 1994-05-07 24 SOTHEBY'S, the world's oldest and largest auction house, celebrates its 250 th anniversary this year. Its Singapore office threw a cocktail party on April 8 to coincide with the exhibition preview of Chinese ceramics, works of art. paintings and jadeite jewellery. Julian Thompson, chairman of Sotheby's211 words
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TIME OFF
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Article, Illustration942 1994-05-07 25 Fionnuala Halligan - Blues merged with country, and black teamed up with white at a concert in Los Angeles. Fionnuala Halligan was there Fionnuala Halligan The writer is a free lance journalist who contributes regularly to Business Times THE UNIVERSAL Amphitheatre in Los Angeles probably never hosted a942 words
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Article360 1994-05-07 25 Lab Report 6 New plays from the Theatre Works' Writers' Laboratory. The readings for Lab Report 6, sponsored by Singapore Press Holdings, are directed by Lok Meng Chue and Lim Yu-Beng. May II: Not Ours by Chua Tze Wei and Can Opener by Tan Mei Ching. May 12: Careful360 words
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Article309 1994-05-07 25 Cao Yan Zhen in Concert Ku Lap Man conducts the SSO in this concert featuring soprano Cao Yan Zhen from the Shanghai National Orchestra. Tomorrow. spm at the Singapore Conference Hall. Tickets at $4. $7, $10 $15 are available at Centrepoint Information Counter, Karl Heng Enterprise (Bras Basalt Complex.309 words
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Article126 1994-05-07 25 The Great American Adventure Experience the wonders of the US through three filmlets. Showtimes: I lam: Hidden Hawaii: 12pm: Niagara Miracles. Myths and Magic: Ipm: Grand Canyon The Hidden Secrets: 2pm: Hulden Hawaii: 4pm: Niagara: spm: Grand Canyon: 7pm: Hidden Hawaii and Bpm: Niagara. At the Singapore Science Centre's126 words
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Article, Illustration619 1994-05-07 25 East Meets West Thirty two paintings, sculptures and lithographs by 10 foreign and Singaporean artists, plus finger painting works by the late Chen Wen Hsi. Today: 12pm to 7pm; tomorrow: 12pm to 4pm. at the Atrium Gallery of Marina Mandarin. Tree. Filipino Artists of Singapore X-Patriots Four Philippine artists619 words
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Article47 1994-05-07 25 The Spirit of the Kris Koda Ahluwalia will present this talk that will explore the tradition, symbolism. legends and myths surrounding this mystical weapon of the Malay archipelago. May 13. 9.30 am and 11.30 am at the Saiumal Museum Theatrette. Free, so Jon 7 be late.47 words
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Article50 1994-05-07 25 This bi-annual event this year promises to be bigger, better, faster and more than the previous festivals with over a hundred group and solo artistes performing. May 22 to Jun 12. Counter sales for all ticketed shows are on at all TicketC harge outlets or call 296-2929.50 words
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Article121 1994-05-07 25 This year's fringe events bring together more than 100 Singaporean as well as international artistes. Kicking ofT with a parade and concert (see below), it features special items like late night performances, displays and a Concert in the Park. Performances are free unless otherwise stated. May 22121 words
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Article170 1994-05-07 25 New Paper Big Walk Expected to be the biggest sport event in Singapore with an estimated 25.000 walkers. A brand new Opel Corsa and other prizes worth over Sioo.ooo will be given away at the participants' lucky draw. May 22. starting from the H'est Entrance of the National Stadium.170 words
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Article254 1994-05-07 25 Paintings for Beginners Basic practical course on semi-and-pure abstract paintings by John Lim. Every Thursday till July 7. 7pm to 9pm at Classroom 1. Fee: SISO per person. Chop Suey by Vincent Leow Local artist Vincent Leow Kong Yam's third one-man exhibition. He had his formal art254 words
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Article125 1994-05-07 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. If125 words
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EPICURE
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Article, Illustration813 1994-05-07 26 JAIME EE - Bon Appetit By JAIME EE LES AMIS is probably the swankiest new continental restaurant that we've seen outside a hotel, and possibly the most crowded one at the moment. Open only a couple of months, with absolutely no advertising, it was packed on the weekday that we went,Photos by Chris Loh - 813 words
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Article, Illustration462 1994-05-07 26 SUSAN TSANG - By SUSAN TSANG SUSHI is getting very popular in Singapore, but few of us would expect to come away from a sushi lunch with either our wallets or our stomachs full. Not to worry. Gcnki Sushi redresses this problem. Basically. Genki Sushi turns the fine art of eating462 words
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Article785 1994-05-07 26 N K YONG - Wine By N K YONG THIRTY-FIVE years have passed since the 1959 clarets were hailed as "the vintage of the century", a label which thereafter lost much credibility as many later vintages were also similarly acclaimed. Still, it remains a great vintage. and any 1959 Bordeaux is greeted785 words
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Article, Illustration1029 1994-05-07 28 Ace Ventura Pet Detective. Jim Carrey investigates when the dolphin mascot of the Miami football team is abducted. Lido: 10.45: 1.15: 3 45: 6.30: V Capitol: II: 1.30: 4: 6 30: 9.15. Changi: II: 1.30: 4: 7; 9.15. Oriental: II: 1.30: 3.30. J tiro rig: 11.30: 3.30: 7.30. Republic:1,029 words
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Advertisement205 1994-05-07 17 BDQQ 24-hour "Loan Information Service Approval" 1800 334 3588; 1800 334 3688 Reverso. Avant-garde since 1931. THE LECEND LIVES ON IN THE Reverso Our masterNEVER ON THEIR NEITHER ON OUR OVER 150-YEAR TRADITION OF MAKTHE FINEST o*\ MECHANICAL MOVENOR ON THE FAME OF THE IBLE WHICH HAS NOW BEEN HMfIHWH205 words
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Advertisement13 1994-05-07 18 JSSS» BP oJ[f ers at Bp the m®* 1 Bp curren} feS^T itieS13 words
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Advertisement24 1994-05-07 18 O o o o o LEAD BY EXAMPLE For some of the best examples of good management. Enterprise Management. Every Monday. Business Times nmwot24 words
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Page 18 Miscellaneous
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Miscellaneous68 1994-05-07 18 f You've GOT LIMES OF CTcHeb AU. /N/OU SfW VOO LOVC. NGUR FP»C£. rnd LiFesT/u. bar y rr DOH'T L y _J|-§r -SMfi- CAM6CUTtONCWI»A*emLTD,IMI-1M« 9103 POONESBURY GARRY TRUDEAU MOM...YOU CANT YOU. MP. MIKE, 7WSISNTA CHOICE TM dUIBVBHOUJUTTLE EV&&ONE! fVS BEEN PEAUN6 WITHHERE -/75 HONEY. PROMISE SUPPORT I'VE BEEN THE SAME68 words
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Advertisement8 1994-05-07 20 CAB NOW. PAY LATER. THE CORPORATE TRAVEL CARD8 words
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Advertisement35 1994-05-07 21 "Share Trading" Contest RESULTS Congratulations to the 3 winners for winning $1,000 cash each: Cheong Kok Onn Bp6Boo/n Tan lian *****/F i Rlan Ho Waft Chye l/C: *****22/J > UJinners mill be notified by post. Busines&hne§35 words
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Advertisement272 1994-05-07 22 Building Boon ALSO IN THIS ISSUE: Where are stock markets headed? Singapore's CD-ROM battle Woes of the small investor Ekran's deal of the century Will hedge funds drag down banks? I Get your copy of this month's Singapore Business IW (W )W I from your nearest newsstand or, if you272 words
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Page 23 Advertisements
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Advertisement11 1994-05-07 23 j&acm Front directional tyres clear water on for rear asymmetric tyres11 words
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Advertisement155 1994-05-07 23 Tv ~4feribr BHSP^Vfill _jf*"''"-' |huK V^ We could have brought the city even closer. But, somehow, that would have been like mixing caviar with chilli crab. Bt.^ toRT H °r e jj The Beaufort SINGAPORE Buku Mjnii Road SenioM Smfaporc 0409 Tel (65) 275 o**l Fi* 275 0228 Fo, information155 words
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Advertisement51 1994-05-07 24 i |AA/ Quart/ j. Available in RAYMOND WEIL gnlil. a H<ilil anil anil GENEVE U<)ld anil steel anil 1 WHERE TIME IS CREATION Vs. .^H SOLE AGENT: CRYSTAL TIME |S) PTE LTD K.i% mom! NX cil Show room anil Service Centre, *02-09 Raffles Hotel Arcadc, Singapore C7lB. Tcl: 339 32151 words
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Advertisement96 1994-05-07 25 W- r '/to, Yes, even in Vietnam y° u can I read our latest news. felt Available at: Omni Saigon Tel: *****3 Saigon Floating Tel: 2907*3 Ret Hotel TO: *****5 New World Hotel Saigon Tel: *****0 Palace Hotel Tel: *****0 Century Saigon Hotel Caravelle BotHlS: *****5 Saigon Star Hotel c96 words
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Advertisement41 1994-05-07 26 IK' SHH pHH I Available at Newsstands Times the Bookshops NTUC Supermarkets Guardian Pharmacy 7-Eleven STOP PRESS kiosks Browse tfHw I I Buy at post-offices Shell Esso Caltex Mobil SPC BP. Published by Times Periodicals, member of Singapore Press Holdings I41 words
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Advertisement16 1994-05-07 26 To advertise W Appointments 1 I or Notices, 1 I call tolMvee 1 L 1800-*****83 A16 words
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Advertisement41 1994-05-07 26 NJS. TjfeJ&BULOUS T/T 11% T Easy Pack** -'"^fPACKAGES W hiS y A »»*;!yc., v Karaoke in one of our 1 8 riverside theme rooms and party away with our fabulously-priced packages! »*.VA fQv&Z U2 Hmtbtk W *31* TeL *****22 Fmx: ******441 words
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Page 27 Advertisements
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Advertisement767 1994-05-07 27 Nothing Beats A Bud. or FRESPfI PASTA 1 &DAI LY. W From Pasta Fresco. The only restaurant to make its own specialty pasta. Fresh. everyday. Savour perfect pizza, great gelati and terrific tiramisu. All topped with Italian hospitality. Potto Fro tea Do Sotvotoro Pto Ltd 30 Boo! Quoy. SI0104) lOpen767 words
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Advertisement325 1994-05-07 27 WHERE TO WINE, DINE AND ENTERTAIN Mother's Week Celebratiqfi May 2 May 8 D»» Bufftt hwh dinnwfeSfs I/*- Set dinner at $368 on May 8. "Tte w<ninq rato*fttt* include feshw n <how and cr«n^&Jdlngcc«tJ8fe4j[' Door rfu Mota \4 'wj^SSS*. iBHUBW Hot-Port%B» irresistible Function* Teochew/Cantonese Rooms Dian Xin Lunch Jf riCC325 words
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Advertisement396 1994-05-07 27 ra f -L l sl fancy 'Beijing? Then, we're delighted to suggest tfie Tine Court for a memorable dining experience. Our lunch menu offers a variety of dian \in 'Beijing dumplings, a selection of set menus, and Beijing specialities n|J|£V such as Beijing BalydTench and Hswtowi; Marinated Lamb. Jancy some396 words
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Page 28 Miscellaneous
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Miscellaneous2503 1994-05-07 28 TODAY'S TV t>-30 Great Vegetarian Dishes. kTJfVViS J,' 900 ABN News (M). I itn iLM L*l 7.00 Today in France (See Our -30 CNN Market Report. mk 10 00 spm Nilam, 3.05pm, SBC 12 Today In France, 7pm, SBC 12 7.30 Berita 12 (\1) KgNgmf v 11.00 Kelab Kanak-kanak Ang-2,503 words
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