The Business Times, 14 May 1994

Microfilm: NL19380
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    14 1 Business Times MITA(P) 010/12/93 Weekend Edition, May 14-15 1994 WE KNOW ASIA 75 c
    14 words
  • Article
    URA housing supply figures startle most analysts
    740 1  -  By Lilian Ang SINGAPORE The Urban Redevelopment Authority's estimates on the massive supply of condominiums and private houses from this year startled most analysts in the stock and property markets yesterday, with many expressing plain disbelief. The consensus among brokers, analysts and consultants
    740 words
  • Article
    Vickers leads expansion into China
    422 1  -  By Schutz Lee SINGAPORE Singapore's listed brokers are expanding their presence in China. Leading the pack is Vickers Ballas, which will soon have its own staff on the Shanghai Stock Exchange (SSE) to trade "B" shares and a representative office in Beijing* Kim Eng has
    422 words
  • 2am LATEST
    • Article
      Lock icon Dow Jones up 9.52 points
      73 1 Reuter NEW YORK Blue chip stocks rose in mixed trading yesterday, making the best of a government report showing low inflation but moderated by the prospect of next week's Federal Reserve meeting. Declines led advances 5-4 on volume of 148 million shares shortly after 1
      Reuter  -  73 words
    • Article
      Lock icon N Korea willing to hold N-talks
      56 1 Reuter VIENNA North Korea was willing to hold talks with the International Atomic Energy Agency to try to narrow differences between the two on the replacement of fuel rods at a nuclear plant, the lAEA said yesterday. lAEA inspectors are to visit the North
      Reuter  -  56 words
    • Article
      Lock icon IMF warns on bogus claims
      53 1 Bloomberg Business News WASHINGTON The International Monetary Fund repeated a warning yesterday to investors about fraudulent claims for high-profit financial instruments and schemes made in the IMF's name. The IMF said it did not issue or guarantee any obligations, such as "Prime Bank Notes" or
      Bloomberg Business News  -  53 words
  • Article
    Lock icon Worst of roller coaster ride over for US$?
    118 1 IHT, KnightRidder NEW YORK The US dollar's recent roller-coaster ride brought it close to a record low against the yen and saw it lose ground to the Deutschemark before central banks launched action to try and reverse its slide. The currency market
    IHT,; Knight- Ridder  -  118 words
  • Article
    Lock icon Commodity prices soar on speculation
    281 1 Reuter LONDON Waves of speculative money cascaded into commodity markets, from copper to coffee, sending some prices yesterday to their highest levels since the late 1980s. "I've not seen anything like this for years. They've all broken out on the upside now," one senior trader
    Reuter  -  281 words
  • Article, Illustration
    Lock icon Markets rise on flat US inflation figure
    178 1 SINGAPORE Except for the Philippines, the region's main stock markets reacted positively yesterday to news that inflation in the United States could be under control. In the US, the April Producer Price Index rose only 0.1 per cent half the amount forecast by
    Source: Bridge Info  -  178 words
  • Article
    Companies with exceptional results told not to cap bonus
    592 1  -  1994 NWC wage guidelines By Anna Teo COMPANIES that have done exceptionally well need not rigidly cap their bonus but should consider an extra oneoff payment this year, says the National Wages Council. The NWC also suggests that, for the benefit
    592 words
  • Article
    Untitled
    157 1 Stock market indices Friday Change ST1I 2,286.12 +35.71 KLSEComp 1,004.55 +7.63 Nikkei 20,270.75 +46.51 Hang Seng 9,134.72 +255.86 SET Index 1,259.17 +26.45 Jakarta Comp 467.40 +1.87 CLSA China B 975.99 -2.97 Aust All Ord 2,070.0 +28.6 FTSE100 3,119.2 -18.6 Friday Previous 2pm dose Dow Jones 3,662.36 3,652.84 Average of prime
    157 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      43 1 Designs of shopping centres: el i The new shopping deal ■BLaHHUHIH' Greenback may well be touching bottom soon, Pg 10 Kantor, Japanese minister agree to resume talks, Pg 5 Subscription TH 1800-/*****/ Fax *****/5 BT N«wsd«sk Tel /*****8 Fax *****71 ill 8 **********1162
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      Page 1 Advertisements Column 2
      24 1 Hock Lock Siew: Pg 6 New shareholders could benefit Ipco Surprisingly low take-up for new landed properties Pg 2 Correction on the cards? ELS
      24 words
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      Page 1 Advertisements Column 3
      4 1 Full report, Pg 16
      4 words
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      Page 1 Advertisements Column 4
      77 1 A Asia's Corporate Pg 16 Managing director x Francis Yeoh on Hr why YTL will ■E^^£gTJ^H emerge as one of ~^mrm Malaysia's new E.y W-r mjm powerhouses u vInitial public offerings (IPOs), -fit* No longer as profitable V Council still has critical role: chairman, Pg 2 Quite simply the Royal
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      Page 1 Advertisements Column 5
      36 1 S>xe New 2 £pore*aT. .6.7 Regional News 3,4 Fiuncui 10 World News 4,5 Futm Martati Opnom EL2 Ctob/KLSE. SES 14-16 PI £L4.S Reponil 12 Reviews EL6.7 Wort* 12 Sports ELS Currencies 10 TV/R*ta> ai6 Smo/Corwno 11
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  • SINGAPORE NEWS
    • Article
      Aussie High Commission may reap $75m from property sales
      346 2  -  By Abdul Hadhi SINGAPORE The Australian government is considering selling several properties here including its high commissioner's official residence, Glen Caird which together could fetch more than $75 million. Parliament in Canberra has been told the government will sell Glen Caird
      346 words
    • Article
      NWC still has critical role, says chairman
      344 2 GOING into its 23rd year, the National Wages Council (NWC) still has a critical role in promoting industrial harmony, its chairman Lim Chong Yah said yesterday. "Tripartite agreement at the national level in each sitting of the NWC will take a lot of
      344 words
    • Article
      URA figures show surprisingly low take-up for new landed properties
      367 2  -  By Lee Han Shih FIGURLS released by the Urban Redevelopment Authority (URA) last night show a surprisingly low take-up rate of landed properties marketed last year. Answering queries from BT on the situation in the landed property market, URA said
      367 words
    • Article
      Apple to invest $50m in second building at Ang Mo Kio site
      273 2 APPLE COMPUTER is expected to invest more than $50 million over the next two years to build a second facility at its Ang Mo Kio site. Industry sources said the second building, an annex to the existing 250,000
      273 words
    • Article
      Most Japanese SMEs in S'pore keen on regional expansion
      155 2 MOST small and medium-size Japanese companies operating in Singapore are keen to invest in another regional country, says a survey conducted by the Japan External Trade Organisation (Jetro). About 80 companies, or 54 per cent of respondents, indicated a desire to
      155 words
    • Article
      CPF's 2.5pc interest rate to continue
      121 2 THE Central Provident Fund will continue to pay members annual interest of 2.5 per cent on their savings from July to December 1994. Had the board used its usual formula based on a simple average of the month-end, 12-month deposit and savings rates of
      121 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      470 2 IT| When High-Tech Companies I need personnel, I The Straits Times \\g they plug into APPOINTMENTS Suzhou Taihu National Tourist Vacation Zone is a special state tourist resort the Department of Industry and Commerce, Tax, Finance and Banking have been approved by China's State Council. set up in the zone.
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  • THE REGION
    • Article, Illustration
      Lock icon US Commerce Secretary hopeful China will retain MFN status
      466 3  -  From Leon Hadar in WASHINGTON UNITED STATES Commerce Secretary Ron Brown said on Thursday that China has made "progress" on human rights issues and said he was "hopeful" that President Bill Clinton would be able to renew Beijing's Most Favoured Nation
      AFP  -  466 words
    • Article
      Lock icon Johor gives nod to M$1b oil storage terminal
      148 3 Bernama JOHOR BARU Johor is expected to develop into a major Malaysian petroleum state with the setting up of a Msl billion (SSSBO million) crude oil storage terminal in Tanjong Piai near here. In-principle approval has been given by the state government
      Bernama  -  148 words
    • Article
      Rags-to-riches Aussie prospector could tell Jack London a tale or two
      464 3  -  From Brian Gomez in SYDNEY A REMARKABLE rags to riches story has unfolded in Australia in the past week with news that a Melbournebased mining company has agreed to pay Asl72 million (Ssl9o million) to a prospector, Mark Creasy,
      464 words
    • Article
      Lock icon China jails US pair for defrauding bank of US$10b
      383 3 AFP BLUING China jailed two US citizcns yesterday in a fraud ease of staggering proportions, emphasising the campaign to stem the wave of erime that has swept the country sinee economic liberalisation. Francisco Hung Moy and Raymond Lee, both ChineseAmericans, were
      AFP  -  383 words
    • ASIA NOTES
      • Article
        Lock icon China's telecom network plan
        73 3 Reuter BEIJING China hopes to develop one of the world's three biggest telecommunications systems by the end of the eentury, the official Xinhua news agency said yesterday. China aimed to finish its new telecommunications network by the year 2000, setting 16 trunk optical cables and tripling
        Reuter  -  73 words
      • Article, Illustration
        Lock icon Ingredients for vegetable dish?
        34 3 AFP BEIJING A Chinese child sitting snuggly in his cart covered with vegetables as he waits for his mother to finish her shopping at a market here on Thursday. AFP
        AFP  -  34 words
      • Article
        Lock icon Bid to soothe Jakarta's feelings
        91 3 Reuter JAKARTA The Philippines, alarmed by Indonesia's tough response to plans to hold a Manila conference on East Timor, will send a senior envoy to Jakarta next week to smooth ruffled ties, officials said yesterday. They said Manila would send a personal envoy of President
        Reuter  -  91 words
    • Article
      Lock icon India opens up phone sector to foreign firms
      310 3 AFP NEW DELHI India has opened up basic telephone services to foreign and domestic private companies in a longawaited telecom policy unveiled yesterday, taking the first step towards private phone networks. The policy is aimed at meeting an US$B billion (5512.4 billion)
      AFP  -  310 words
    • Article
      Indon army's plan to act in labour conflicts criticised
      301 3 JAKARTA Indonesian legislators and a labour activist have criticised the military's plan to intervene in labour conflicts, warning that the policy would only worsen the already mounting problem, according to yesterday's Jakarta Host newspaper. In separate interviews with the newspaper yesterday,
      301 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      305 3 ■■Hi V Hi Mm lljk Sj^k I VH East .-•Vlr" jfIHUH 1 'I* »< r^KKm. One Building Show That Puts You On Target! Incorporating The Interior Decoration Furnishing and the M&E Engineering and Building Services Expo 11-14 MAY 1994, WORLD TRADE CENTRE, HALLS 1,2 &3, SINGAPORE. The simple reason why
      305 words
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      Page 3 Advertisements Column 2
      303 3 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-741-1883 FAX: 741-1298 I REGIONAL I I COUNSEL I TANDEM COMPUTERS, a Fortune 500 multinational I I corporation, and the leading manufacturer and supplier H of fault-tolerant, parallel-processing computer sykems used in a wide range of on-line transaction processing H H applications, is seeking a
      303 words
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  • THE REGION/WORLD
    • Article
      Lock icon US consumer prices up by smaller-than-expected 0.1pc
      435 4 Bloomberg Business News AP, WASHINGTON American consumer prices edged up by a smaller-than-expected 0.1 per cent in April as falling oil prices kept inflation under control, the government said yesterday. In a report likely to calm inflation fears further, the Labour Department said
      Bloomberg Business News; AP,  -  435 words
    • Article
      Lock icon Bentsen and Greenspan united on inflation battle
      143 4 Bloomberg Business News WILLIAMSBURG, Virginia United States Treasury Secretary Lloyd Bentsen said yesterday that he and Federal Reserve chairman Alan Greenspan are united on using interest rates to control inflation. In remarks to a meeting of corporate executives, Mr Bentsen said: "Alan Greenspan
      Bloomberg Business News  -  143 words
    • Article
      Lock icon M'sia out to cap inflation fuelled by rising spending, profiteering: analysts
      442 4 AFP KUALA LUMPUR After seven boom years, Malaysia is now fighting inflationary pressures exacerbated by rising spending and profiteering, analysts said yesterday. A marathon effort to fight inflation is underway through a national campaign to be launched by Prime
      AFP  -  442 words
    • Article, Illustration
      Lock icon Japan's coalition govt set to lose key Parliament post
      363 4 Reuter TOKYO Prime Minister Tsutomu Hata's struggling new minority government faced its first parliamentary crisis yesterday when an Opposition party formally demanded it hand back the ehair of a key committee. The Liberal Democratic Party (LDP) submitted a resolution to dismiss
      Reuter  -  363 words
    • Article
      Exxon returning to India after 18 years
      200 4 SINGAPORE American oil major Exxon Corporation is set to make a return to India after an 18-year absence. It signed a Memorandum of Understanding with Hindustan Petroleum Corporation (HPCL) yesterday through its Singapore affiliate Esso Singapore. This will pave the way for a
      200 words
    • Article
      Indonesia aims to attract US$10b in foreign investments
      258 4 JAKARTA Indonesia is optimistic that it will attract US$lO billion (SSI6 billion) in new foreign investment commitments by the end of this year, says Minister of Investment Sanyoto Sastrowardoyo. A Jakarta Host report quoted Mr Sanyoto telling a business luncheon on Wednesday
      258 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      641 4 Vessel Voy Wo Both Arrival Departure Vessel Voy No Berth Arrival Departue Jurong Port eiorw SC264C 13May* P01A 1305/1530 13 05/1830 Batam Indah NL18 111 alongside 14 05/2300 Elona SC264C 14May" P01A 14.05/1130 14 05/1430 Batam Murm 05/05/94 111 alongside 14 05/2300 Equator Grac 118/4E PQ3 1405/0730
      641 words
    • Article
      CONTAINER SCHEDULES
      1590 4 RECEIVING OF EXPORT FCL CONTAINERS AND LCI CARGO RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record 8ooking/Balance Rslts Ship Voy No Etb/Btr Period From To From Mttrack 36/136 15/1000 16 13/1500 13/1659 13 1900 28 13/1/00 14 0659 14 0900 3 14/0/00 14/1159 14 1400 4 14/13)0
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  • THE WORLD
    • Article
      Lock icon Greenspan raps Congress for denying powers to banks
      482 5 Bloombcrg Business News CHICAGO Congress may plunge the US banking industry into a permanent decline by refusing to pass legislation granting the industry new securities and insurance powers, according to Federal Reserve Board chairman Alan Greenspan. While competition from other industries always
      Bloombcrg Business News  -  482 words
    • Article
      Lock icon Senate passes Clinton's US$1.5 trillion budget
      235 5 Reuter WASHING lON US President Hill Clinton's US$l.5 trillion (552.4 trillion) spending plan for fiscal 1995 won final approval in Congress on Thursday with a 53-46 vote in the Senate, putting the country's budget deficit on a downward path. "Hor the first time since
      Reuter  -  235 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1782 5 ctt£ nW ETA FMfjrt ETD City FMgM ?TA Flgrt ETD_ Amman RJ187 0130 Hang/hou MI931 2035 M1932 0920 Imsterdam SQ25 0630 KL844 0035 Hanoi VN741 1310 SQ1/6 1130 KL831 0935 KL838 2300 SQ175 1855 VN740 1410 SQ324 2345 Hatyai MI895 2300 MI896 1920 Auckland NZ21 1735
      1,782 words
    • Article
      Lock icon Kantor, Japanese foreign minister agree to resume stalled trade talks
      403 5 Reuter, Bloomberg Business News WASHINGTON US Trade Representative Mickey Kantor and Japanese Foreign Minister Koji Kakizawa agreed yesterday to work for a resumption of stalled trade talks between their two countries, Mr Kantor's office said. Mr Kakizawa called Mr Kantor
      Reuter,; Bloomberg Business News  -  403 words
    • Article, Illustration
      Lock icon SM Lee in Jordan for three-day visit
      361 5  -  From Agnes Chen in JORDAN WALKING across the 10-mc-tre span of the Allenby Bridge, Senior Minister Lee Kuan Yew and his delegation arrived in Jordan on Thursday after a six-day official visit to Israel. At the other end of what the Jordanians call
      Photo by Chew Seng Kim of The Straits Times  -  361 words
    • Article
      Lock icon US senate issues contradictory directives on Bosnia
      230 5 AFP, AP WASHING I ON The US senate voted on Thursday.to require US President Bill Clinton to lift the arms embargo against Bosnia, but muddied the aetion with a eontradietory directive to first seek the support of other nations. With back-to-back 50-49 votes
      AFP,; AP  -  230 words
    • WORLD WATCH
      • Article
        Lock icon Group of Three in trade accord
        133 5 Reuter MFX ICO CUT Mexico, Colombia and Venezuela reached a final accord on Thursday on a free trade agreement, the Mexican commerce ministry said, the accord struck in Bogota between the so-called Group of Three creates a new free-trade bloc in the Americas, following
        Reuter  -  133 words
      • Article
        Lock icon US to study Gulf War mystery illness
        136 5 AFP WASHING lON Facing rising calls for action from the public and Congress, the Pentagon has agreed to carry out a major clinical study of the mystery illness affecting hundreds of Gull War veterans, flic symptoms of the so-called "Persian Gulf Syndrome" have
        AFP  -  136 words
      • Article
        Lock icon Russia's foreign debts surpass US$80b
        101 5 Bernama-Xinhua MOSCOW Russia's foreign debts, apart from those owed to Eastern European eountries. have exceeded US$BO billion (S$ 127 billion) this year. Itar-Tass said. According to agreements signed before. Russia should have repaid an annual debt of more than US$2O billion in 1992 and 1993.
        Bernama-Xinhua  -  101 words
      • Article
        Lock icon Clinton wants to restrict landmines
        99 5 AIP WASHING TON The Senate should approve a 14-year-old treaty to curb millions of landmines from being laid around the world, said President Clinton on Thursday. Senate ratification would be "a matter of humanity, common sense and sound military doctrine." said Mr Clinton. International representatives
        AIP  -  99 words
  • Page 5 Miscellaneous
    • Miscellaneous
      Page 5 Miscellaneous Column 1
      419 5 I WEATHER Singapore: Showers over a few areas in the morning. (Temperature range: 25-32). ».1. Hi/La' Cond. Ehtmm W/U* Camd. Buenos Aires 18/11 Ck*x>» Aotward 13/08 Cloudy Amsterdam 23/11 ClouOy Chicago 33/25 r Storm Athens .28/12 Sunny llonofc*i. 27/22 Cloudy S2T 27/13 Cloudy Bonm I'/OS BWW Houston 27/23 fSlom. S2C2J
      419 words
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  • COMPANIES & MARKETS
    • Article, Illustration
      Creative gets green light for secondary listing on SES
      356 6  -  By Joseph Rajendran SINGAPORE Personalcomputer sound-card maker Creative Technology has received in-principle approval for a secondary listing here. And the firm, which is expected to make significant announcements next week on the operational front, will seek shareholder approval soon for a
      356 words
    • Article
      Sembawang makes $23m from sales of investments
      206 6 SINGAPORE The Sembawang group yesterday announced an extraordinary gain of $23 million from the recent sale of part of its investment portfolio. In a statement to the Stock Exchange of Singapore, it said the money would be used for "strategic and long-term investments
      206 words
    • Article
      SBC Ent renews Times Pub magazine printing deal
      163 6 SINGAPORE Despite keen competition. Times Printers (TP) has won SBC Enterprises' agreement to renew its contract to print and produce "8 Days" and "RTV (Chinese)" magazines. TP says the renewal of the three-year contract, worth some $20 million, signifies the confidence which
      163 words
    • Article, Illustration
      Lock icon Union Paper features in KL trading probes
      321 6 Bernama KUALA LUMPUR The Securities Commission opened 30 investigation papers during the 10 months ended Dec 31 1993 and 16 of these were related to the short-selling of Union Paper Holdings Bhd shares. SC chairman Munir Majid said in a statement issued in
      Bernama  -  321 words
    • Article
      New shareholders could benefit Ipco
      856 6  -  HOCK LOCK SIEW By William Chia SINGAPORE International turnkey contractor Ipco international has been a disappointment to shareholders this year, given its 54 per cent fall in group earnings to $2.43 million for the six months ended Dec 31 1993. Ipco which made an impressive
      856 words
    • Article
      Liang Court eyes Sydney site for A$55m waterfront village
      230 6  -  By Schutz Lee SINGAPORE Liang Court Holdings is looking at buying a site in Sydney on which to build an Asss million (Ss6l million) waterfront village its fifth residential development in the Australian city. Its first two projects there were launched
      230 words
    • Article
      Lock icon High & Low sees higher profit from plantations
      282 6 High Low sees higher profit from plantations Bernama KUALA LUMPUR Highlands and Lowlands Bhd expects profit from its plantation activities to trend higher in anticipation of higher prices for commodities in 1994. Chairman Ani Arope said in his 1993 annual report released here yesterday that the average prices realised to
      Bernama  -  282 words
    • EYE on your STOCKS
      • Article
        MARKET MOOD
        19 6 h'or next week's expected market sentiment, see Bi Sentiment Index on EL 4 (Personal Finance Investment section)
        19 words
      • Article, Illustration
        HOT STOCK
        181 6  -  By Teh Hooi Ling Now seems to be the time to buy warrants of Industrial Oxygen. The 13-day RSI is in the oversold region and is turning up. And a bullish divergence is appearing on the 13-week chart higher bottoms on the RSI but lower bottoms on the
        181 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      362 6 NEWS VALUE How today's news might affect your stocks URA housing supply figures startle most analysts (pg I) Property counters were firm yesterday but it looks like a market holding its breath. Vickers leads listed brokers' forays into China market (pg l) 't s still early days. Positive in the
      362 words
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  • COMPANIES
    • Article, Illustration
      Lock icon Tan Yu's children planning Asiaworld push into China
      437 7 Reuter TAIPEI The children of Chinese-Filipino tycoon lan Yu, whose Asiaworld Internationale Group ranks as one of world's biggest overseas Chinese conglomerates, plan to expand into China. Emilia "Bien Bien" Roxas, 40, who took over day-to-day management from her father in the
      Reuter  -  437 words
    • Article
      Proton gets Viet joint venture approval
      244 7  -  From Ho Kay Tat in KUALA LUMPUR MALAYSIA'S national car company, Perusahaan Otomobil Nasional Bhd (Proton), took a first step overseas yesterday when it said that Hanoi has approved its joint venture in Vietnam to import, assemble and sell automobiles. Proton and its partners
      244 words
    • Article
      Lock icon Wheelock, NatWest in investment venture
      193 7 AFP HONGKONG Wheelock and Co Ltd, one of Hongkong's largest conglomerates, said yesterday it would team up with Britain's National Westminster Dank pic to form an equally owned joint venture in the territory for its investment operations in China and South-east Asia. The planned joint
      AFP  -  193 words
    • Article
      UNIT TRUSTS & FUNDS
      539 7 UNIT TRUSTS FUNDS Managers' pricrs (S) May 14 16 USO, Kund 100 104" Singapore Unit Trust W® Invest Mgt Ltd Ik Comnkm 1.67 l.77xd llmfunj 14} 1.51 The Savings fund 156 1.65 t'mhondt- 1.025 1.05 S'pore Prog Kund 0.71 0.75 I nacd Or Kund 166 1.73 S pun; See Kund
      539 words
    • COMPANY BRIEFS
      • Article
        United Industrial to issue warrants
        57 7 SINGAPORE United Industrial Corp will issue 10.43 million additional warrants, expiring in 1998, as a result of its current rights issue. These warrants will be issued to existing warrant holders at a ratio of 0.*****7037 of an additional warrant for each 1998 warrant held at
        57 words
      • Article
        Lock icon Multi-Purpose bonds get green light
        82 7 Bernama KUALA LUMPUR Shareholders of Multi-Purpose Holdings Bhd have approved the issue of MS2SO million (S$ 149 million) nominal value of 3 per cent redeemable non-convertible bank guaranteed bonds 1994-1999. This comes with 150,206,600 detachable warrants at 100 per cent of the nominal value of
        Bernama  -  82 words
      • Article
        Lock icon Duta Anggada slashes bond issue
        51 7 Reuter JAKARTA PT Duta Anggada Realty, a property investment company, scaled down its straight bonds issue to 25 billion rupiah (551.79 billion) from an initial 150 billion rupiah, lead underwriter PT Sigma Batara said. The company cited current weak market conditions as the main reason.
        Reuter  -  51 words
      • Article
        Singmarine offering new shares
        21 7 SINGAPORE Singmarine Industries will list 29 million new shares, arising from its one-for-four bonus issue, on Monday.
        21 words
      • Article
        YHS calls extraordinary meeting
        26 7 SINGAPORE Yeo Hiap Seng will convcnc an extraordinary general meeting to seek shareholders' approval for the adoption of new articles of association.
        26 words
      • Article
        10 Kew Drive lots go for $21.3m
        46 7 SINGAPORE Orchard Parade Land has successfully tendered for 10 parcels of land at Kew Drive phase three for $21.3 million. The parcels consist of nine sites for the development of nine bungalows and one site for seven terrace houses.
        46 words
      • Article
        Lock icon Sarawak Concrete listing approved
        47 7 Bernama KUALA LUMPUR Sarawak Concrete Industries Bhd has been given approval to float its MSIB million issued and paid-up capital on the Kuala Lumpur Stock Exchange Second Board. The flotation comprised 2.7 million ordinary Msl shares at M 52.20 per share. Bern ama
        Bernama  -  47 words
      • Article
        Lock icon Pengkalen operating profit drops
        60 7 Bernama KUALA LUMPUR Pengkalen Industrial Holdings Bhd's group operating profit dropped to M 5394,000 for the year ended March 31, 1994 from M$ 1.103 million a year ago. It said turnover was relatively unchanged at M 528.984 million from M 528.549 million, and attributed the poor
        Bernama  -  60 words
      • Article
        Lock icon Nod for San Miguel capital raising
        63 7 Reutcr MANILA Philippine food and beverage conglomerate San Miguel Corp has been granted permission by the Securities and Exchange Commission to triple its authorised capital to 15 billion pesos (SSBS3 million) from five billion. It said the move would help cover its 100 per
        Reutcr  -  63 words
    • Article
      Lock icon Morgan Stanley says sell Goodman on profit outlook
      425 8 Bloomberg Business News SYDNEY Morgan Stanley has launched its coverage of Australian food group Goodman Fielder with a "sell" recommendation. "Goodman Fielder is the perennial whipping boy of the Australian market, having failed to deliver on promises of earnings growth in recent
      Bloomberg Business News  -  425 words
    • Article
      Lock icon Bristol-Myers buys 25pc of German drugs maker
      280 8 FT LONDON Bristol-Myers Squibb, the second largest US pharmaceuticals company, yesterday joined the drugs industry dash for corporate dealmaking by buying a 25 per cent stake in Azupharma. a German drugs manufacturer. Azupharma specialises in making generics, unbranded drugs that have lost their
      FT  -  280 words
    • Article, Illustration
      Lock icon Telecom NZ gives record profit to shareholders
      379 8 Reuter jWELLINGTON US-con-trolled phone company Telecom New Zealand yesterday posted a record annual profit, boosted by strong growth in cellular phones, and said 90 per cent of the profit would go to shareholders. Telecom announced a NZ5528.1 million (*****.3 million) net profit before
      Reuter  -  379 words
    • Article
      Lock icon Fiat surprises itself and analysts with speedy recovery
      281 8 Reuter MILAN Fiat SpA is racing back to profitability faster than the company itself expected, although the road to recovery is not yet secure, analysts said on Thursday. Italy's largest industrial group announced record losses of 1.8 trillion lira (SSI.7 billion) for
      Reuter  -  281 words
    • Article
      Lock icon Fall in US drinks sales may cost GrandMet £40m
      151 8 NYT LONDON Shares in Grand Metropolitan, the international drinks and food giant, fell 26p to 457p yesterday as the group disclosed that destocking in the US drinks market was likely to cost it £40 million (SS93 million) this year. The group
      NYT  -  151 words
    • COMPANY BRIEFS
      • Article
        Lock icon Three firms to list on Shanghai bourse
        82 8 Reuter SHANGHAI The Shanghai stock exchange yesterday said it approved the listing of three new companies. It named the three as Town and Country Trading Company, which is issuing 50 million yuan (Ss9 million) worth of shares; Nantong Machine Tools, which is issuing
        Reuter  -  82 words
      • Article
        Lock icon San Miguel gets nod to treble capital
        95 8 Reuter MANILA Philippine food and beverage conglomerate San Miguel Corp has been granted permission by the Securities and Exchange Commission to treble its authorised capital to 15 billion pesos (SSBS3 million) from five billion. The company had told the commission the capital build-up
        Reuter  -  95 words
      • Article
        Lock icon Trafalgar House in talks over Ritz
        101 8 Bloomberg Business News LONDON Trafalgar House pic, the UK holding company, is believed to be in talks with Hongkong's Mandarin Oriental hotel chain about its London Ritz hotel, the Times reported yesterday. The likely outcome of the talks would be for the Mandarin to
        Bloomberg Business News  -  101 words
      • Article
        Lock icon Noble Group to raise HK$82m in IPO
        84 8 Bloomberg Business News HONGKONG Transportation and steel trading company Noble Group Ltd plans to raise HKSB2.4 million (S$ 16.5 million) through an initial public offering of 80 million shares next week at HKSI.O3 each, the Hongkong Economic Times reported yesterday. Net proceeds will
        Bloomberg Business News  -  84 words
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      162 7 Dividends tabic has been held over TDaimlerßenz Daimler-Benz ***** ii Industrie IT jjjgS fphlQ Mercedes-Benz AEG Aerospace We were listed on The Stock Exchange of Singapore on 10 May, 1 994 amidst applause and warm wishes. THANK YOU (or your support and kind attendance at our epochal event, as we
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      982 8 CHEMICAL INDUSTRIES (FAR EAST) LTD 52 JAIAN OUHOH JURONGTCWN SIMiAPORE 22 TU 6G0411 CABLE SOCW.HLOR ■5 ANNOUNCEMENT The Board of Directors are pleased to announce the unaudited results (or the Company and the Group tor the year ended 31 March 1994 Latest year to Previoua year to 31 March 1994
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      49 8 You may have been unable to get your Business Times, Straits Times, Sunday Times, LianHe Zaobao and other daily newspapers from your usual newsstand because of the higher demand lately. To ensure a daily copy, call Customer Services Section on 1800-749-2577, and ask for home or office delivery service.
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      461 9 TLJ p I Next to Katong's East Coast Park Lagoon, I I I at a rare waterfront location. I I Phase 3 open for sale now. I I Do not miss out on this exceptional opportunity. f I #"V LINKED BY AN UNDERPASS TO IV 1 fill# l<J #S. EAST
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  • FINANCE & COMMODITIES
    • Article
      Lock icon Greenback may well be touching bottom soon
      615 10 IHT PARIS For weeks now the world's money men have watched with almost macabre fascination as the US dollar slipped and stumbled against the currencies of Germany and Japan. Explaining the weakness of the dollar, which dropped as low as 100.60 yen on
      IHT  -  615 words
    • Article, Illustration
      Trend still uncertain for US dollar
      396 10 DBS Bank weekly currency review US$/DM: trend still not clear The US dollar traded lower on Monday to 1.6520, then picked up to touch 1.6820 on Wednesday. It eased to 1.6623 yesterday morning. The trend for US$/Dm is still not clear, with a break
      396 words
    • Article
      Two S'pore petrochem firms to raise US$678m
      227 10  -  By Soh Tiang Keng SINGAPORE Two Singapore petrochemical companies will raise a total of US$67B million (S$ 1.8 billion) on the capital markets of Asia, Europe and North America to finance expansion projects. They are Petrochemical Corporation of Singapore (PCS), which will tap
      227 words
    • Article
      Lock icon Ringgit expected to pick up further, says banker
      309 10 Bernama KUALA LUMPUR The ringgit is expected to strengthen further in the medium and long term, said Bank Buruh (M) Bhd chief executive Ramon Navaratnam yesterday. It is likely to trade between US$2.5B and U552.59 on strong demand from foreign investors, said
      Bernama  -  309 words
    • Article
      Lock icon Atlantic Richfield's money market fund loses 5.3pc of value
      241 10 Los Angeles Times LOS ANGELES A normally low-risk money market fund managed by oil company Atlantic Richfield Co for its employee pension and savings plans lost US$22 million (Ss34 million) or 5.3 per cent of its principal in April. Investment experts
      Los Angeles Times  -  241 words
    • Article
      Lock icon World tin producers' output and exports down
      170 10 Reuter KUALA LUMPUR Members of the Assoeiation of Tin Producing Countries (ATPC) all saw significant cutbacks in their export and production quotas last year, the association said at the end of its 35th executive council meeting here yesterday. Total exports from the ATPC
      Reuter  -  170 words
    • Article, Illustration
      Lock icon Banque Indosuez REGIONAL CURRENCY REPORT
      121 10 Hit DOLLAR traded in narrow ranges yesterday with most market participants preferring to stay on the sidelines ahead of the weekend. US$/S$ traded in a tight band between 1.*****.5540. Some dollar buying interest was evident around 1.5520. It elosed near the high at 1.5535-40. Another
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    • Article
      Lock icon London
      202 10 Bloomberg Business News LONDON The dollar fell against the mark and rose against the yen in Europe yesterday as traders awaited next week's meeting of the Federal's Reserve's policy panel on interest rates. The dollar fell from the day's highs against both currencies after the US Labour Department reported
      Bloomberg Business News  -  202 words
    • Article
      Lock icon Crude oil futures prices hit seven-month high
      163 10 ENERGY REPORT Bloomberg LONDON Crude oil futures reached their highest levels since October yesterday on concerns about supply shortages. brokers said. "Traders are pushing futures prices ever higher because they fear a shortfall of supplies in the coming months, especially from the North
      Bloomberg  -  163 words
    • Article
      Lock icon New York
      84 10 AFP NEW YORK The dollar firmed against major currencies in quiet trading early yesterday after the government reported an unexpectedly small rise in April consumer prices. At about 9:45 am, the greenback traded at 1.6705 marks, up from 1.6675 late Thursday. Against the yen, the dollar stood at
      AFP  -  84 words
    • Article, Illustration
      Untitled
      1712 10 /><«A-iiiT«6ht/ imlr\ <uktihlal aquiniJ Sfwr i liifi 14 limlinx fuiMm. Buv lew /S#o US$/S$ forward rates Noon May 13 s$ Bid Offer 1-month 1.5528 I.554J 2-month I 5525 I.SMO Vmonth 1.5525 I.554U. 6-month I 5520 1.5540 Source: OCBC FOREIGN CURRENCY NOTE RATES As at 9am mi May 13 Singapore dollars
      1,712 words
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  • COMMODITIES & FUTURES
    • Article
      Lock icon Eurodollar higher in technical correction
      1281 11 SIMEX REPORT Reuter SINGAPORE Simcx Eurodollar futures ended sharply higher in a teehnieal correction yesterday. Dealers said market sentiment was firmer, following the release of the US producer price index on Thursday which fell by 0.1 per cent alter a 0.2 per cent rise in
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    • Article
      Tin one sen up in cautious trading
      597 11 COMMODITY REPORTS Tin TIN closcd the week a cent up at MS 14.09 a kg due to gains in the London market and some Malaysian buying, traders said yesterday. They said a prevailing high local premium of USSI63 a tonne to the London
      597 words
    • KNIGHT-RIDDER COMMODITY SUMMARY
      • Article
        Nigeria won't pay debt with crude oil
        140 11 LONDON Nigeria will not use crudc oil to pay a US$5OO million (***** million) debt to several joint venture partners, an Opec report quoted Oil Minister Don tftiebet as saying, lie told a news eonferenee that the suggestion by one of the partners.
        140 words
      • Article
        SE Asia corn demand set to slow
        72 11 SYDNEY South-east Asia, Japan and Taiwan will likely slow their corn purchases next week, but South Korean demand is expected to remain firm, traders said. Markets around the region are focused on various topics: US Gulf-Japan freight rates. Chinese corn prices and whether
        72 words
      • Article
        Tanzania coffee prices soar
        148 11 NAIROBI fan/anian coffee prices jumped by more than US$4O at Thursday's auction in Moshi, as exporters scrambled to cover short positions and build up stocks for the close season. Northern quality AAI-'AQ was quoted at US$24O per 50 kilograms I 08, up from US$l97 at the
        148 words
    • Article
      COMMODITY PRICES
      1374 11 Rubber Singapore Commodity Exchange (futures closing as at 5.30imi) RSS 1 Contract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Jun 94 154.00 153.75 153.75 200 1775 Jul 154.00 2700 Aug 153.25 153.25 153.50 100 1675 Sep 152.50 152.50 153.50 50 3375 Oct/Dec 154.50 154.50
      1,374 words
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      28 11 "Ideal in cameras. Andlknow whereto get good exposure." low l* Red I JtmSTNhJ' I f &v or o Mf')*£&s&' VHS accesajfes' Call today for results tomorrow. CATS. 737-1166
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      Page 11 Advertisements Column 2
      41 11 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead. 7 STRAIGHT TALK You shouldn't have to read between the lines to get the full picture. Companies Markets. Everyday. Business Times
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  • REGIONAL STOCK MARKETS
    • Article
      Australia
      1271 12 +28.6 AUSTRALIAN shares rallied yesterday following bullish trade in the futures market, strengthening commodity prices and renewed confidence in bonds, brokers said. The market barometer, the All Ordinaries Index, closed at 2,070.0 points, up 28.6 points or 1.4 per cent from Thursday's finish. The All Industrials Index rose 24.9
      1,271 words
    • Article
      Manila
      622 12 -11.89 Share prices fell slightly in a morning of seesaw trade with little fresh news to spur the market, brokers said. The Philippine Stock Exchange composite index fell by 11.89 points, or 0.4 per cent, to 2,937.28 points on Friday from the 2,949.17 posted on Thursday when the market
      622 words
    • Article
      Taipei
      560 12 +57.57 Taiwan share prices finished up as buying in the paper and pulp sector intensified just before the close, brokers said. The weighted index rose 57.57 points, or 0.96 per cent, to end at the intra-session high of 6,061.95. Turnover fell to NTS6O.OI billion from Thursday's NT587.43 billion. The
      560 words
    • Article
      Seoul
      446 12 -2 Stocks ended lower after failing to maintain its strength as con- solidation started after seven straight gaining sessions, brokers said. The composite stock index shed 2.00 points to 950.45. Steelmaker Posco shed 800 won to 68.000 and Hyundai Motor lost 700 won to 43,500. But Samsung Electronics, the
      446 words
    • Article
      New Zealand
      265 12 12.19 The New Zealand share market rode a wave of buying in Telecom and Fletcher to close firmer yesterday. The NZSE-40 capital index closed at 2,105.19, 12.19 points higher than Thursday's close. The high reached on the day was 2,115.95. Fletcher, the driving force in the market this
      265 words
    • Article
      Bombay
      59 12 +27.4 Share prices rose to close higher on speculative buying triggered by expectation of concessions for brokers in the Reserve Bank of India's credit policy to be announced today, brokers said. The Bombay Stock Exchange 30-share index closed at a provisional 3,808.50, up 27.40 points. The 100-share national index
      59 words
  • WORLD STOCK MARKETS
    • Article
      London
      793 12 -18.6 STOCKS closed lower yesterday, after the lower-than-cxpcctcd rise in US consumer prices led to uncertainty about interest rates, analysts and traders said. The FT-SE 100 index closed down 18.6 points to close at 3,119.2, with shares in Unilever, Glaxo, and HSBC contributing 5.41 to the decline. The biggest
      793 words
    • Article
      Paris
      127 12 10.26 French stock prices rose in reaction to the latest US inflation figures, which were interpreted as further evidence that prices are being kept under control. The CAC 40 Index of leading French stocks rose 10.26 points to close at 2,187. Investors said the French market was generally quiet
      127 words
    • Article
      Stockholm
      130 12 +25.79 Swedish shares soared 2.2 per cent after strong advances in telecommunications group LM Ericsson and banking issues. Traders said, however, that there was a risk that gains were slightly exaggerated because the market had been closed on Thursday and investors had not been able to trade on Wednesday's
      130 words
    • Article
      Frankfurt
      228 12 +9.3 German stocks rose yesterday on better than expected US inflation figures and pulled up by shares of Mctallgcscllschaft AG, which announced plans to cut 7,500 jobs. The DAX index of 30 key German stocks closed at 2,257.29 in after-hours trading, 1.46 points below the official close and 9.30
      228 words
    • Article
      Zurich
      249 12 +45.7 Swiss stocks rose as foreign investors, buoyed by lower then expected US inflation figures, returned to the market to buy bank and insurance shares. The Swiss Market Index of 22 rose 45.7 points, 1.74 per cent, to 2,678.7. All of the index's stocks advanced. Traders said there was
      249 words
    • Article
      Johannesburg
      291 12 +77 Shrugging off a slow start after the holiday, selected top South African shares made good gains on the back of a weaker financial rand yesterday, while continuing firm interest was seen in second-tier industrials. The overall index closed 77 points or 1.4 per cent higher at 5,533, the
      291 words
    • Article
      Milan
      154 12 -44 Italian stocks closed lower as investors bought companies with strong earnings outlooks and sold insurance stocks, which have risen strongly on speculative buying recently. The Milan market's Mibtcl Index fell 44 points, or 0.3 per cent, to 12,831. Fiat SpA rose 90 lire to 7,225 after it said
      154 words
    • Article
      Amsterdam
      255 12 -1 Dutch stocks closed mixed after food and detergent maker Unilever NV released disappointing firstquarter earnings. Before the market opened, the company said its profit rose to 845 million guilders from 802 million, after a 37 million guilder one-off' gain and a Favourable dollar/guilder exchange rate. Unilever closed 5.5
      255 words
    • Article
      Toronto
      287 12 +4.1 Toronto stocks continued mixed at midday yesterday as weak gold and transportation stocks offset gains in conglomerates and mining issues. The rally in Canadian bonds, which spurred earlier gains in equities, lost some steam at noon. The TSE 300 index was up 4.10 points at 4,166.70 in volume
      287 words
    • Article
      New York
      786 12 +2.97 Blue chip stocks edged higher in skittish trading yesterday, trying to make the best of a government report showing low inflation but unable to make any headway with the Federal Reserve meeting next week. The Dow Jones Industrial Average was up 2.97 points at 3,655.81 just after
      786 words
    • Article
      Untitled
      622 12 Brussels \|«j II FfWK* FORWARD MARKET AG Fin 26«*) 10 AoK 2550 Artwd 5100 100 AM Sit 2 Rum.IN 451 t I jnpjc 544 I <oA l« 2 IV Brtrs '*4 4 Ebn 77» EkvtiaM (.DelglPl 2*25 Gb-lnno-Bm 1610 25 C rfvjtrt WO 60 Gr Riu Limb 44W 75 Prtro
      622 words
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      60 12 rn 9 m >># nr ty nr usinessTimes Business Times Business Times Business Times Business Times i*i r-<3 Subscribe now and have your personal copy delivered to your doorstep. f Customer Relations Section Circulation Department Address. Pnctal rv>HpSingapore Press Holdings Limited •82 Genting Lane ~OS a News Centre Singapore 1334
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  • Article, Illustration
    Lock icon HONGKONG
    3177 13 Bloomberg Business News HONGKONG The benchmark Hang Seng Index gained 2.84 per cent yesterday as investors bet that the Hongkong stock market will continue its recent swings. Many local investors bought shares to hold for between a lew days and three months after studying recent movements of the Hang
    Bloomberg Business News; Source: Bridge Info  -  3,177 words
  • Article, Illustration
    CHINA
    527 13 TURNOVER in Shanghai B shares remained low at US$3.5 million yesterday with the CLSA B Index falling 1.84 points to 713.33. Property counters Jinqiao and Outer Gaoqiao gained 3.5 per cent and 3.9 per cent respectively in moderate trading. First Pencil was also up 11.6 per cent on very
    527 words
  • Article, Illustration
    Lock icon TOKYO
    2688 13 Bloomberg Business News TOKYO Stocks traded mixed yesterday as leading export shares rose on a stable yen and real estate stocks retreated alter an 8 per cent rally in the past four days, traders said. "Domestic investors arc more aggressive in buying export stocks," said Phillipe Huber, a trader
    Bloomberg Business News; Source: Bridge Info  -  2,688 words
  • Article, Illustration
    Lock icon BANGKOK
    1914 13 Bloomberg Business News BANGKOK Thai stocks gained 2.15 per cent as bet-ter-than-expected earnings reports by two major banks lifted finance issues yesterday. An economic report released on Thursday in the US also boosted investor enthusiasm. The report indicated little inflation, meaning the Federal Reserve Board will have less reason
    Bloomberg Business News; Source: Bridge Info  -  1,914 words
  • Article, Illustration
    Lock icon JAKARTA
    1183 13 Bloomberg Business News JAKARTA Indonesian stocks rose amid expectations the government would announce steps next week to stimulate foreign investment and economic growth, traders said. The Composite Index closed up 1.87 points at 467.40. The GT-DBS 50 index closed at 109.17, higher than Wednesday's close of 108.55. Trading totalled
    Bloomberg Business News; Source: Bridge Info  -  1,183 words
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      33 13 ACTAL NEUTRALISES STOMACH ACID. r 1 Actal neutralises stomach acid, giving quick relief from stomach discomfort, FAS jCf Sterling 9 astric pain, indiges- ms6 *smc H M g Health tion and heartburn. 2
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  • Article
    CLOB INTERNATIONAL
    2734 14 Multi-Purpose 2.977,000 Mulpha I nil 50c 2.951.000 Kamunting 50c 1.857.000 Id ris HyvJ 50c 1.847 000 FACB 50c 1.602.000 Promct 1,263.000 Lien Hoc TSR97 1.219.000 Bcijaya I ml 1,106.000 (jcnting Inl USS 927.000 Kcmayan 50c 752.000 Innovcst Bhtl 740.000 Kcnong Bhd 50c 701.000 Mctropfc* 50c 478.000 Muhi-Puipose 7,309,555
    2,734 words
  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks up, absence of US rate hike a relief
      5922 14 Bloomberg Business News KUALA LUMPUR Malaysian stocks rose yesterday as the US Federal Reserve once again failed to meet expectations that it would raise interest rates. Investors who had pulled out of Malaysian stocks on fears they will be hurt by
      Bloomberg Business News; Source: Bridge Info  -  5,922 words
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      114 14 i H__C_ «x- fciif ha M*^^H ■F aj 1 1 ft v*s tin l| ««*<M^naiM C^ p 37-640 (14- Teletext) MB2 795/9 P*> TOPJNicam Stereo) ST *****/8 text (Nfcam Sleteo) E-72-911 TOP (Nicam Stereo) r 1 P 37-050 (Designed by FA Porsche) 11 VJ—Jjj- 1 AVAILABLE AT ALL LEADING ELECTRICAL
      114 words
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      Page 14 Advertisements Column 2
      5 14 rßusinesslT Monday in Business Times
      5 words
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  • STOCK EXCHANGE OF SINGAPORE
    • Article
      Untitled
      7249 15 MAIN BOARD Transaction date: May 13 j Cr C* 19*1 Um Vol Day Lnl Quote IX» Ui» VM Nat >1 Ca» lllgh Ln Corapaay Sale ("000) l>«h Low Bayer Seller Cn P/fc S«nil INDUSTRIAL AND COMMERCIAL 1350 206 I s Acma 905 cd -5 5 910 905 905 910 17.5
      7,249 words
    • Article, Illustration
      Lock icon Late foreign buying of blue chips boosts prices
      1911 16  -  By R Sivanithy SINGAPORE* Share prices closed higher yesterday, boosted by a spurt of strong foreign buying during the closing half hour of trading. Prices opened marginally stronger as investors noted an overnight firming in US equities and bonds. By midday, the
      Charts by Bridge Info; Source: Bloomberg  -  1,911 words
  • Page 15 Advertisements
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      41 15 ACTAL NEUTRALISES STOMACH ACID. A*. Stirling Sastric pain, indiges- r mmt V Health tion and heartburn. 2 /Ul HIGH STAKES Don t et shortchan 6e c l. or a covera *> e y° u can bank on. WWW^^f Financial News. Business Times
      41 words
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  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      366 16 IN THE MATTER Or THE COMP AMES ACT, CAPJO ABLE ENTERPftSE PTE LTD MEMBERS'VOLUNTARY LIQUIDATION AtanExtraosdhwryOoneralM+odni ol the Company convened and held at No 81-0. Lavender Street, Singapore, 1233 on 1&> May 1884 the following reeofutione won pdSftddl 1) That the Company be wound up vduntarty pursuant to Soctlon 200(l)<b)
      366 words
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      Page 16 Advertisements Column 2
      257 16 IN THE MATTERS OP THE COMPANIES ACT, CAP. SO AND FORTEL COMMUNICATIONS CORP PTE LTD (In Members' Voluntary Liquidation) NOTICE OF RESOLUTION At so Extraordinary General Meeting of the company duly convened and held at 101 Upper Cross Street #0437, People's Park Centre, Singapore 0105 on 12 May 1994, the
      257 words
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      Page 16 Advertisements Column 3
      23 16 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-741-1883 FAX:74I-1298 PLAY SMART Be part of the good life. Lifestyle. Everyday. m Business Times WE KNOW ASIA
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon The new shopping deal
      930 17  -  Lane Crawford Shopping Centre, which opened last Sunday, is the third new eye-catching centre in Orchard Road in less than two years. Is this a coming-of-age for shopping or are these centres just wid PHies in new bottles? Jay Khosla sifts out the trends Jay Khosla
      Photos by Billy Mork  -  930 words
    • STRAWS IN THE WIND
      • Article
        The mark of Quayle
        65 17 FORMER US Vice-President Dan Quayle was in vintage form this week when he was in a New York bookshop autographing his new book. "What's your name?" the tanned and beaming politician asked a five-year-old girl who stood before him. "Samantha," answered her mother. With a gallant
        65 words
      • Article
        Painful procedure
        26 17 SO YOU think doctors in Singapore overcharge? Overheard at a large clinic a nurse on the phone saying: "Sorry, the doctor's drawing blood n0w..."
        26 words
      • Article
        Movie hybrid
        37 17 SEEN in a Bangkok TV guide a listing for the programme, M Batterfly. They must have confused M Butterfly with the gory movie The Fly. Either that or butterflies are a delicacy in that city.
        37 words
      • Article
        Taking no chances
        44 17 EXCUSE ME, are you a lady? A female reporter arrived for a press conference and the security guard informed his colleague on a higher floor that she was coming up. "Another reporter coming," he said into his walkie-talkie. "A female lady."
        44 words
    • OPINIONS
      • Article, Illustration
        Learning to profit from connections
        1122 18  -  Tye Kim Khiat says Australians stand to gain enormously by tapping the ricn lode of guanxi right under their noses Tye Kim Khiat The writer is a BT copy editor PART OF Senior Minister Lee Kuan Yew's exhortations to Australians last month, touched on the
        1,122 words
      • Article
        A tale of 2 lunches in Hongkong
        651 18  -  Jackie Sam tells how Chris Patten was outshone when Lu Ping came calling Jackie Sam The writer, a Hongkong-based journalist, contributed this commentary to BT CHINA'S director of Hongkong affairs, Lu Ping, came to town to deliver a strong warning: keep making money
        651 words
      • Article
        Hit property speculators harder
        832 18  -  LETTERS TO THE EDITOR John Tan Chor-Yong I APPLAUD the government's belated efforts in trying to hold back the spiralling property prices, but this is hardly a "crackdown" on the property speculators, as Lilian Ang put it in her article (B'l', May 6). I am afraid
        832 words
      • Article, Illustration
        It's a barquentine
        138 18  -  Ashleigh Seow I REFER to the picture story of a sailing vessel in the Chinawatch column titled "Retracing Osaka-Shang-hai route" (BT, May 12) which states that the Akogare is "a replica of boats which used to carry passengers between China and Japan in the Tang Dynasty". The
        138 words
    • CORPORATE PROFILE
      • Article, Illustration
        A powerful giant in the making
        2364 19  -  Asia's corporate giants YTL Corporation, acknowledged as one of Malaysia's best builders and innovators, took a big bold leap into power generation in 1992. Managing director Francis Yeoh talks to Amy BstUtn about the company s entry into the infrastructure business Amy Balan A
        2,364 words
      • Article
        All in the family
        723 19 FRANCIS YEOH was 24 when his father handed him the reins of the company and his father was then 50. "My father," said the younger Yeoh, "was so courageous to bring me up as a leader. He never thought of me overshadowing him." His father, Yeoh
        723 words
    • PERSONAL FINANCE & INVESTMENT
      • BULLS EYE
        • Article, Illustration
          BT SENTIMENT INDEX (May 16-20)
          54 20 Those polled on their views of the Singapore stock market for the week ahead: Alliance Securities, Baring Securities, Daiwa Securities, GK Goh, Morgan Grenfell Asia Securities, Ong Co. Peregrine Securities, Phillip Securities, Schroder Securities, Smith New Court, Tat Lee Securities, WI Carr and S G
          54 words
        • Article
          Buy!
          263 20 Ong Co (May 13) Telekom Malaysia. Rumoured placement to Bank Negara of a 1/4 billion share block will result in large interest in the counter. On fundamentals, Telekom is looking at 1994 PE of 25x still below historical highs of 40x and 1995 PE of 21x on 18 per
          263 words
        • Article, Illustration
          Eye on the region: Hongkong
          176 20 Vickers Bat las HK Ltd The Hongkong market has risen in recent trading sessions largely due to a technical rally and overseas institutional buying. But Hongkong still faces uncertainties. The Chinese government will renew efforts to clamp down on its overheated economy. Price controls and
          176 words
        • Article, Illustration
          In my opinion...
          340 20  -  Yap Teong Kiat Director head of sales Peregrine Securities (S) 4 1 1 or many in the rH topsyturvy world .X. of investing, few things seem to have gone right in the last months. So comes that time of the year again: do you sell in May
          340 words
      • Article
        IPOs no longer as profitable
        862 20  -  Premiums have fallen from 70pc last year to 40pc this year. Yen Sreenivasan reports Ven Sreenivasan BY MOST accounts, the number of initial public offerings (IPO) looks set to exceed that of last year by more than half. Sources in the financial industry believe 30
        862 words
      • Article
        Main board
        252 20 No Counter Float size Ust Subscription Offer 1st day 60th day May 13,94 (m shares) month rates (times) price close (I) close close 1993 1. CWT 25.0 Apr 128.8 0.85 1.66 2.28 2.68 2. IPC 87.5 May 3.9 0.76 1.17 1.40 162.5/ 1.3 (0.80) 0.98 3. IPCO 5.5
        252 words
      • Article
        Sesdaq
        147 20 1993 1. GikenSekata 10.0po Feb 48.0 0.40 0.75 0.705 7.6 pi 0.43 JK56 2. Noel Gifts J125 Mar 46.8 0.36 0.50 0.49 3. Wonnettcs 15.0 Msql _30J 0.60 0.65 0,995 4. Compact Metal 15.0 May 103.1 0.75 1.66 1.63 5. Sincere Watch 10.75po Sep 36.0 0.70 0.99 1.60 2.25
        147 words
      • Article, Illustration
        Making the most of that first steady income
        358 20  -  Shiv Taneja on a booklet about money management targeted at young professionals Shiv Taneja GONE are the days of scrounging around on insufficient amounts of pocket money. You've graduated from university and into your first job. With a steady income, money is
        358 words
      • Article, Illustration
        Lock icon There's no surer bet than the Kiwi
        408 20  -  Spotlight currency By Paul Leo THERE is a saying that goes when analysts say something is a sure bet, be wary especially when their views are published in the newspaper. But in the the case of the New Zealand dollar, this might well
        Source: Bloomberg  -  408 words
      • Article
        Untitled
        778 20 Launch 1 mth 3 mths 6 mths I yr 2 yrs 3 yrs Ranking i» at May 1994 Singapore Straits Ttaea 6.41 -4.44 7.31 26.49 53.89 45 18 Credit Lyonnais Singapore Gr 28.07.69 4.55 6 -9.64 8 -4.89 10 55.21 2 140.95 I 126.73 2 OCBC Savers Capital Fund 27.04.87
        778 words
      • Article, Illustration
        Is a correction in property prices on the cards?
        835 21  -  Shiv Taneja on why rising interest rates and falling rents may reverse the three-year uptrend in the property market Shiv Taneja T| HE GOVERNMENT is making it abundantly clear that it is not happy v with the way property prices have
        835 words
      • Article, Illustration
        HK market expects 20pc fall in property prices
        607 21  -  By Shiv Taneja WITH one full day before applications closcd last week, Hongkong-based developer Cheung Kong Holdings said there were three potential buyers for every one Laguna City apartment they had up for sale. This was good news, said a report in
        607 words
      • Article, Illustration
        Lock icon An alternative to a foreign home
        1041 21  -  A newly-launched fund offers investors a chance to own property stocks around the world, reports Lilian Ng Lilian Ng SINGAPOREANS' penchant for property has been given a boost by the recent launch of the Worldwide Property Fund (WPF) by Schroder Investment Management Singapore. This,
        Source: Datastream  -  1,041 words
    • Article, Illustration
      Awkward moves
      690 22  -  Cinema Review By SHAHIRON SAHARI THOSE who were young when Debra Winger starred in movies like An Officer And A Gentlemen and who recently saw her in Shadowlands would have been starkly reminded of the passing of the years. In Officer, Winger was an attractive, sexy young factory
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      Ho-hum Hogan
      730 22  -  By SHAHIRON SAHARI ■VERY Paul Hogan movie, it seems, is a Jut and miss affair critics seem to hate fis movies, yet they've made about a billion Australian dollars altogether. But, as Hogan said in Singapore last week, what do movie critics know? All of them, bar none,
      730 words
    • Article, Illustration
      Lock icon The glamour trio of Orchard Road The glamour trio of Orchard Road
      1114 22  -  Jay Khosla reviews the designs of Singapore's three latest downtown shopping centres, while Jaime Ee offers a consumers definition of a retail paradise Jaime Ee Jay Khosla The writer, an architect, contributed this article to Executive Lifestyle TAKASHIMAYA
      Photos by Billy Mork  -  1,114 words
    • Article, Illustration
      Lock icon On the paparazzi trail in Monte Carlo On the paparazzi trail in Monte Carlo
      1036 22  -  S N Vasuki observes the behavioural traits of a distinctive species of European photographer when the stars come out S N Vasuki HEAVEN can wait because it is spring in Monte Carlo, when the little kingdom
      Design by Jennifer Chua  -  1,036 words
    • Article, Illustration
      Lock icon Customer's privilege
      586 23 WHEN a shopper shops, this is what usually goes through his or her mind: Is it expensive? Is there a sale? What's in the shop window? Is there a cafe inside? Do I really need to go in there? YES!!!! So you're in. Never mind the architectural merits
      Billy Mork  -  586 words
    • SPORTS
      • Article, Illustration
        Will Hoddle's dream prove to be a good omen for Chelsea?
        626 24  -  FA Cup Final By Michael Karem The writer is a London-based freelance journalist who contributed this article to BT LONDON If you follow form, you have to expect Manchester United, already champions of the English Premiership, to win the
        626 words
      • Article
        The Year of the Underdog — but who is the underdog?
        605 24  - The Year of the Underdog but who is the underdog? By Shahiron Sahari The FA Cup Final will be screened live on SBCI2 at 10pm tonight, with a preview at 9pm SINGAPORE Football Association Cup finals come no more fascinating than when they involve a top dog and an underdog
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      • SPORT SHORTS
        • Article, Illustration
          Baseball
          30 24 NEW YORK Major League Thursday American: NY 7 Cleveland 6 (10); Detroit 6 Oakland 5; Boston 3 Milwaukee 1. National: St Louis 6 Chicago 8; Philadelphia 6 Pittsburgh 4.
          30 words
        • Article, Illustration
          Cycling
          85 24 ASHEVILLE, North Carolina Results Thursday in the 201-km eighth stage of the Tour DuPont from Banner Elk, North Carolina, to Asheville: I Andrea Peron (Ita) 5h 35:47 2 Sean Yates (GB) at 50 seconds 3 Djamolidim Abdujaparov (Uzb) at 52 4 Arvis Piziks (Lat) same time 5 Ozers Kaspars
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          Lock icon Golf
          257 24 Reuter Reuter TOKYO Japan PGA Championship second round Friday (Japanese unless stated): 138 Masanobu Kimura 69 69 139 Koki Idoki 69 70, Sciji Ebihara 67 72, Hiroshi Goda 66 73 140 Katsuyoshi Tomori 68 72, Masashi Ozaki 69 71, Katsunari Takahashi 69 71, Isao Aoki 70 70. Also: 147
          Reuter  -  257 words
        • Article, Illustration
          Lock icon Tennis
          51 24 Reuter ROME A back injury has forced world number two Michael Stich to pull out of his quarter-final clash with German compatriot Boris Becker in the Italian Open. The match had been scheduled to begin at 1100GMT but the oreanisers said Stich had withdrawn after sufTering back pains while
          Reuter  -  51 words
      • Article
        Lock icon Hawks, Jazz post victories
        278 24 AP NEW YORK Atlanta held Indiana to the fewest points in National Basketball Association playoff history on Thursday night as the host Hawks, behind 20 points each from Danny Manning and Kevin Willis, tied the Eastern Conference semifinal series 1-1 with a 92-69 victory. In the
        AP  -  278 words
      • Article
        An enjoyable way to exercise
        816 24  -  ■ft BIG WALK '94 A personal Big Walk view by Soh liang Keng Soh Tiang Keng SINGAPORE As a person who simply racewalks for health and fitness, I don't expect to win any awards and competition prizes in The New Paper Big Walk next Sunday.
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      • Article, Illustration
        Lock icon Ernie Els shoots ahead in Spanish Open
        391 24 Golf AP, AFP MADRID Ernie Els was back to his best when the Spanish Open began at windy Club de Camp here on Thursday. The South African, who makes a habit of false starts, had seven birdies in his five-under-par 67 to take
        AP,; AFP  -  391 words
      • Article, Illustration
        Lock icon Another crash, and more calls for review
        748 24 AP MONTE CARLO After another Formula One crash, more voices are being raised about the need to review the safety measures in Grand Prix racing. This time it came from the United States where two former Formula One world champions Emerson Fittipaldi and
        AP  -  748 words
    • TIME OFF
      • Article, Illustration
        PERFORMANCES
        133 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 14: Half Century by Russell Heng. Readings at Bpm at the Black Box at Fort Canning Centre.
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      • Article
        CONCERTS
        331 25 AH Jazzed Up Keyboardist Shane Thio is the featured soloist with the SSO this time round. Lim Yau holds the baton and guides the orchestra through numbers by Gershwin, Leonard Bernstein, Leory Anderson and Don Gillis. Today. 8.15pm at the Victoria Concert Hall. Ticket at $4, $7, $10, $15
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      • Article
        FILMS
        126 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: Hidden Hawaii; 4pm: Niagara; spm: Grand Canyon; 7pm: Hidden Hawaii and Bpm: Niagara. At the Singapore Science Centre's
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      • Article
        EXHIBITIONS
        556 25 Faces of Serenity An exhibition and sale of fine antique works of Buddhist and secular art. Today, I lam to Bpm, at Cafe Gallery, 69-A Boat Quay. Admission is free. Ethnic Treasure An exhibition that features some of the most beautiful and unusual artifacts and curios from Nepal, India,
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      • Article, Illustration
        TALKS
        131 25 Trimuti: Contemporary Art in Singapore Organised by the Friends of the National Museum, this talk looks at the recent trends in contemporary art in Singapore, including installation! f formance art and practices that encroach beyond the boundaries of modern art. The speaker is T K Saba*lfay 20. Ham at
        131 words
      • Article, Illustration
        SINGAPORE ARTS FESTIVAL
        300 25 The bi-annual event this year promises to be bigger, better, faster and more than the previous festivals with over a hundred groups and solo artistes performing. May 27 to July 3. Counter sales for all ticketed shows are on at all TicketCharge outlets or call 296-2929. NOTE:
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      • Article
        ARTS FESTIVAL FRINGE
        119 25 This year's fringe events bring together more than 100 Singaporeans as well as international artistes. Kicking off 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 22
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      • Article
        MISCELLANEOUS
        138 25 Biker's Charity Carnival This full day event includes a bike parade, sprint races, a motorcross, charity joy rides, a bike display and jumble sale. And if that's not enough, a concert, a lucky draw and an auction on four celebrity designed scooters should make anyone call it a day.
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      • Article
        AT THE SUBSTATION
        327 25 Painting for Beginners Basic practical course on semi-and-pure abstract painting by John Lim. Every Thursday till July 7, 7pm to 9pm at Classroom I. Fee: $150 per person. Chop Suey Local artist Vincent Leow Kong Yam's third one-man exhibition. He had his formal art education at the
        327 words
      • Article
        TICKETING
        124 25  -  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. If
        124 words
    • PEOPLE
      • Article, Illustration
        Celebrating 25 years in Venetian style
        177 25 OMNI MARCO Polo Hotel recently celebrated its 25th anniversary with a Venetian-theme cocktail reception at its newlyrenovated San Marco Ballroom. About 350 people attended the reception, which featured a 12-piece string ensemble, an opera singer from Beijing and staff dressed in Ve-netian-style costumes. In
        177 words
    • EPICURE
      • Article, Illustration
        Franco-Asian flair
        671 26  -  Boh Appetit By JAIME EE ELKA Gilmore, an American chef who's been manning the stoves at the Hilton's Harbour Grill (today is her last day) was named in the latest issue of* Gourmet magazine as one of a new breed of innovative chefs whose cooking styles are making
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      • Article
        The taste of green papaya
        596 26  -  By JAIME EE ADMITTEDLY, it was the Vietnamese movie Scent Of Green Papaya that drew us to the front door of Thanying's new restaurant at Clarke Quay. We hadn't been to the Thai restaurant's original premises at Amara Hotel for ages, because while we've always
        596 words
      • Article, Illustration
        A Vietnamese original
        788 26  -  Harish Mehta discovers a French-style bistro in Hanoi that also sells hundreds of paintings Harish Mehta A VIETNAMESE woman has opened an art restaurant in Hanoi that closely resembles the bistros of Paris. Step in there for coffee and you could be a hundred dollars poorer that
        788 words
    • Article, Illustration
      CINEMA
      1006 28 Ace Ventura Pet Detective. Rub-ber-faced Jim Carrey investigates when the dolphin mascot of the Miami football team is abducted. Lido: 10.45; 1.15; 3.45; 6.30; 9. Capitol; 11; 1.30; 4; 6.30; 9.15. Changi; II; 1.30; 4; 7; 9.15. Jurong: 11.30; 1.30; 6.30. Republic: 3; 7. Yishun: 11.15; I.10; 3.10; 5.10;
      1,006 words
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      87 18 <&&&:•i? -1111 Y€S% 6V6TI lit Vietnam y° u can still read our latest news. Available at: |J| |j|•„ |f j x. s '/'5-: .'V;y ':><!§SjiOnmi Saigon Tel: *****3 Saigon Floating Tel: *****3 Rex Hotel 1*1:*****5 New World Hotel Saigon Tel: *****0 Palace Hotel Tel: *****0 Century Saigon Hotel 1*1:*****8 Caravelle
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      39 18 v BT welcomes letters from you. N s Please address them f r to: The Editor, S Business Times, C r 390 Kim Seng Rd, j j S'pore 0923. Letters C r should include >our 1 contact numbers, V
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      18 18 1 bought one cm and sold 10,000 sq.ft." I mgjao oodV Call today for results tomorrow. CA.T.S. 737-1166
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      91 18 1 .1 mki >':W.h fizfA fIJeuL.BGG/e (I've NOMEJ? UO£K£D IF N/OU'Re THIIsJICING CueLL miss splcO hoco pfle. >/ou V'n rnj offigc e£/ngp JoFTgyuo f>Wything on, > —-S 6NJOVIMG VOUf?J X JOHN IS ft \o\ Vfißsnr DAV FRED'S V, —\f —,rVV-p p*n rll- in usaes-rie#... ,0V 7 vLT2 JW*«* BLACK eeurjUDO
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      51 21 SIVtiAI'ORf I RAN*. IIISM "W" ~T* PRESENTS M m Kenny Rogers FINALLY LIVE IN SINGAPORE Sun 15th May i l Time 8 PM Venue Singapore Indoor Stadium I $40, SBO, i W& 5100,^0 348 5555 2 Official Official Official A Official Co-sponsors note! Airline Card /ynViC PrOdUCtiOFIS 'W tjf W¥~
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      93 23 THE STATE OF THE ART IN HOME ENTERTAINMENT SYSTEMS.. PROFESSIONALLY INSTALLED BY FACTORY-TRAINED PERSONNEL AND FULLY-BACKED WITH MANUFACTURER'S WARRANTY FROM OUR SERVICE DEPARTMENT. CERTIFIED THX HOME THEATRE SYSTEMS I I I I 9 DOLBY PRO LCGIC SYSTEMS TOTAL HOME/COMMERCIAL AUTOMATION CUSTOM DESIGN a INSTALLATION COMPLETE SYSTEM INTEGRATION KENWOOD IVIII CUSTOM
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      49 24 ADVERTISEMENT Rnshiesfllmes/KENWOOD GOLFING TIPS \y BRETT BRASIER PROFESSIONAL GOLFER Fully Qualified Mwnbec Of 5.P.G.A.S Dip in Golf Man«e«n#nt ...To hit the ball 'softer* use one club more than normal, grip down the shaft and concentrate on H|! IB making a smooth backswing. Then, without hitting excessively, let the club
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      132 25 E' Primero automatic chronograph movement. Above 4i Bfvond Pte Ltd I Maritime Square *02-101 Expo Gateway Tel *****42 Cortina Watch Centre Pte Ltd *01-36 Raffle* City Shopping Centre Tel *****85 *01-32 Lucky Plaza Tel *****84 Deluxe Eastern Watch Pte Ltd *01-18/20 Centrepoint Tel *****)6. Jewellery Industrie* <S> Pte Ltd 44
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      47 26 *S2som*tt) Karaoke in one of our 18 riverside theme rooms and party away with our fabulously-priced packages! aV.Vi <^sst 50 Hmmltek B»mi Simgtftrt OJI6 7Wr *****22 P**s T*****4 STRAIGHT TALK You shouldn't have to read between the lines to get the full picture. Companies Markets. Everyday. BusmessTimes
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      Page 26 Advertisements Column 2
      23 26 I Make new I business I contacts t hr ough'' r I classification 203 I in The Straits Times Q I Classified. Q&T
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      924 27 Nothing Beats A BmL WHERE TO WINE, DINE AND entertain Of ,1, fresh! .PASTA DAI LY. W From Pasta Fresco. The only restaurant to make Its own specialty pasta. everyday. Savour perfect pizza, great y gelati and terrific tlramisu. All topped vjjt with Italian hospitality. Potto Fkko Oa Sotvator* <*•
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      Page 27 Advertisements Column 2
      314 27 Hi 1 Mil I AT THE CHAXXKRBOX 13 22 May 1994 4 chefs from Lai Lai Sheraton have made a come back due to popular demand Don t mlcs this opportunity to savour authentic Taiwanese dishes during the food promotion MM lunch $20 50*♦ (Adult); $12 00*+ (Child) •uftet dinner:
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  • Page 28 Miscellaneous
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      Page 28 Miscellaneous Column 1
      2474 28 TODAY'S TV —»""W" 6.00 Morning News (M). I^B|TIT[V|j!M L 7.00 Berita HHlaaaiSfllH VL Romi Dan 3.30pm, SBC Superstars J-J® JJJj M J' SRC 5 CNN Market Report Kcdlbrd-s L uoo Ke lab Kanak-kanak childhood friends from >■ W Kasapuri(M) «i 12.00 NN News. by social pa- HA 12!l5 PM Children's
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