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BUSINESS TIMES, 1 December 1990

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Article also available on Microfilm Reel NL17371


Masthead [TITLE SECTION]

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Business Times MCI (P) 170/12/89 Weekend Edition, December 1-2 1990 75*

NEWS & MARKETS SUMMARY

Jakarta, KL join forces against timber boycott [ARTICLE]

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Jakarta, KL join forces against timber boycott INDONESIA and Malaysia said yesterday that they have agreed to cooperate in efforts to counter environmentalists seeking to boycott tropical timber. Malaysian Primary Industries Minister Lim Keng Yaik said the agreement was a recognition of the importance of forestry for employment, income and

Dow higher [ARTICLE]

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Dow higher SHARE PRICES opened higher on Wall Street yesterday, with the Dow Jones index of leading industrials gaining 0.25 points to 2,519.06 points in the first five minutes of trading

Footsie higher [ARTICLE]

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Footsie higher LONDON shares were higher at midday yesterday. At about 12:15pm (1215 GMT) the Footsie 100-Share Index was up 8.3 points, or 0.3 per cent, at 2,143.9. Volume at midday was 198.2 million shares.

Dragoco plant [ARTICLE]

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Dragoco plant A LEADING manufacturer of flavours and fragrances has relocated its operations from Hongkong to Singapore with the opening of its $8 million factory yesterday Page 2

Natsteel's highest bid [ARTICLE]

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Natsteel's highest bid THE NATSTEEL group has put in the highest bid of 131 million in Singapore's biggest land sale which is to turn 126 hectares in East Coast into a lucrative leisure proposition Page 3

Pickens complies [ARTICLE]

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Pickens complies TEXAS oilman T Boone Pickens will comply with a new rule requiring him to disc Jose information about his holdings in Japanese car-parts maker Koito Manufacturing Co Ltd Page 4

STOCK INDICES [ARTICLE + ILLUSTRATION]

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STOCK INDICES Friday Change BT-MGA 549.04 -0.29 Kuala Lumpur ....464.71 -0.91 Hongkong 2.965.06 -13.29 Tokyo 22,454.63 -257.97 Sydney 1319.6 -18.8 Thursday Change New York 2.518.81 -16.34 London 2,135.6 -8.7

CURRENCIES [ARTICLE]

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CURRENCIES Exchange rates USS ssi.7185 Yen SSI.2945 MS SS0.6358 Money market rates Overnight 5-3/4 +1 3-montn 5-15/16% +5/16

COMMODITIES [ARTICLE]

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COMMODITIES London Gold AM fix US$384.80 -US$0.45 Rubber S'porc Dcc l55.25Vkg -0.25 M'sia Dcc 242.50«/kg unch KL Tin Turnover 16 tonnes +2 Spot M$l5.72/kg +0.17 Crude palm oil Turnover 2,070 lols -401 Dcc M$847/tonnc +14

Listed retailers turn in mostly poorer results [ARTICLE + ILLUSTRATION]

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Listed retailers turn in mostly poorer results Jy Suzanne Soh RESULTS released by four listed retailers yesterday paint a grim picture for the entire retail industry, even for those operating in the prime Orchard Road area. The four Metro, its subsidiary Transmarco, CK Tang and Sesdaq-ksted The Hour Glass cover

Ng Teng Fong begins to sell Orchard Road properties [ARTICLE]

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Ng Teng Fong begins to sell Orchard Road properties By Lee Han Shih IN A MOVE that could have a great impact on the local property market, Ng Teng Fong has started to sell his properties along Orchard Road. Yesterday, the market mover, through his listed Ming Court Hotel, entered

UN authorises use of force [ARTICLE]

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UN authorises use of force The Gulf Crisis THE United Nations Security Council on Thursday authorised military force to remove Iraq from Kuwait if it does not withdraw its troops and release all hostages by Jan 15 but Baghdad said it would defy the UN ultimatum. Only Cuba and Yemen

Asian stocks close lower [ARTICLE]

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Asian stocks close lower MOST ASIAN stock markets fell yesterday over fears of a war in the Gulf after the UN Security Council told Iraq to get out of Kuwait. Tokyo stocks closed down but well off their lows. The key Nikkei index fell more than 700 points on a

Mahathir urges M'sians to adopt progressive outlook [ARTICLE]

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Mahathir urges M'sians to adopt progressive outlook Bernama MALAYSIAN Prime Minister Datuk Seri Dr Mahathir Mohamad's yesterday urged Malays and Malaysians to look towards developing a more progressive and respected nation. "The Malays can be equally successful as the other races in this country. And this country, with its multiracial

US leading indicators down again in October [ARTICLE]

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US leading indicators down again in October AP THE UNITED States government's chief economic forecasting gauge fell in October for the fourth straight month, the government said yesterday, signalling a recession that many economists believe is already underway. The 1.2 per cent plunge in the Commerce Department's Index of Leading

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Nikon TtwWbrid'tFtoMt Photographic Sytftm. COVER And once there was a boy nOP j| named Pietro 5|W Aircraft Schedule B- Commodrties Company News J Cryptic Crossword [lecuttve lobs tl Futures Options J® Interbank Fore* Rates Home News KISE Money Changer Rates Money Market Regional Stock Markets SFS lUt Shtps m Port

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OPINIONS Standing first among equals. EL 2 A little compassion goes a long way. EL 2

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PURSUITS MvJ PfHRf JM after death.... isn't there? i EL7 i i Contributions from associates lift Metro results, Pr 3 WANT YOU TO RIDE FOR ME AT ROYAL ASCOT. I i AI nT 'k *JP t MbDHI E Mi A A II 8 OMEGA. The watch that records the world's

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SPORTS Learning to make the muscles remember. EL 6 Drugs used by E Germans. EL 6

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Nikon TtwWbrid'tFlnMl PtMHuyiapUte SytfMn. FINANCE Sterling rides out the storm. EL 10 Laughing all the way to the bank. EL 11

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JOBS Fancy tides make sense sometimes. EL 8 Helping the retrenched. EL 8 Bush confident of economic recovery, Back Pg

HOME NEWS

NEWS ROUNDUP

Entry prohibition order against nine lifted [ARTICLE]

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Entry prohibition order against nine lifted THE Minister of Home Affairs, Mr S Jayakumar, has lifted the Prohibition of Entry order made against Dominic Puthucheary, James Joseph Puthucheary, S Woodhull, Fong Swec Suan, Jamit Singh, Lim Shee Ping, Yap Ser Jin, Abdul Samad bin Ismail and Chan Chiaw liior. The

BP cuts price of two products [ARTICLE]

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BP cuts price of two products BP OIL has reduced the prices of its jet fuel and premium kerosene by US$O.2O a US gallon. The new prices are US$l.l3 for aUS gallon of jet fuel, and US$l.l6 for aUS gallon of premium kerosene.

$2 notes in January [ARTICLE]

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$2 notes in January THE Singapore Board of Commissioners of Currency will be issuing $2 notes and making them available to banks from Jan 28, 1991. Part of the current series of notes bearing the 'Ship' theme, they will depict a local vessel known as a 'tongkang'.

The power of communication [ARTICLE]

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The power of communication THE first group of the Ngee Ann Polytechnic's mass communication students is hosting a seminar called 'Comm Power Tomorrow's Professionals with the Right Stuff* today. The seminar is to bring together Singapore's communication practitioners to share their ideas and expertise.

$5 off for Singaporean visitors [ARTICLE]

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$5 off for Singaporean visitors THE SINGAPORE Tourist Promotion Board yesterday launched a package giving Singaporeans a $5 discount to 15 popular attractions including Haw Par Villa and the Singapore Zoo. This is to celebrate the arrival of Singapore's five millionth visitor this year expected sometime over the next two

Gifts for the needy [ARTICLE]

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Gifts for the needy THE Sharity Gift Box was yesterday opened for the third consecutive Christmas by Dr Tay Eng Soon, Senior Minister of State for Education. All gifts received at the "box" opposite Centrepoint will be presented on Christmas Eve to residents and members of 39 charities under the

Speedpost to four more nations [ARTICLE]

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Speedpost to four more nations THE Speedpost Service will be introduced on a reciprocal basis with Hungary, Maldives, Spain and Sri Lanka from today. With these additions, Speedpost service is now available to 53 countries.

Flavours maker sets up $8m plant [ARTICLE]

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Flavours maker sets up $8m plant By Anne Lee A LEADING manufacturer of flavours and fragrances has relocated its operations from Hongkong to Singapore with the opening of its $8 million factory yesterday. Dragoco Gerberding's decision to shift here was due to the brain drain and the rising cost of

Fuji to join Simex as clearing member [ARTICLE]

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Fuji to join Simex as clearing member THE Singapore International Monetary Exchange has approved in-principle the admission of Fuji Futures (Singapore) Pte Ltd as a corporate clearing member. Fuji Futures is a whollyowned unit of Fuji Bank Ltd, the first Japanese bank to obtain in principle approval for corporate clearing

SIA hooks up with BA cargo system [ARTICLE]

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SIA hooks up with BA cargo system By Rahita Elias SINGAPORE Airlines and British Airways yesterday signed a cargo systems cooperation agreement, said to be the first of its kind between a major Asian and a leading European carrier. The joint cargo systems arrangement involves an electronic link-up between the

Government to acquire historical site [ARTICLE + ILLUSTRATION]

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Government to acquire historical site By Lee Han Shih THE GOVERNMENT is acquiring one of the most historic sites in Singapore the large Tyersall Park next to the Botanic Gardens from the estate of the late Abubakar, the Sultan of Johor. A short announcement from the Law Ministry yesterday said

SHIPS IN PORT

AT CONVENTIONAL WHARVES [ARTICLE]

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AT CONVENTIONAL WHARVES Vend Voy Wo Berth frrivd Departs* Vwsti «ty Ho B«rth faM Ogartuw Kepflpl Wharves Mahkota hp XXXXX1 M3B atongsde 3011/2300 Andaman Pees 04/90 (P) K29 alongside 30.11/1800 Sor Hadyaiun XXXXX MSA alongside 3011/2300 kitn 2 K32 atongside 02.12/0600 Sri Arika 16/90 M4B alongside 30.11/1700 Kota Nb|u E«75

CONTAINER SCHEDULE [ARTICLE]

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CONTAINER SCHEDULE RECEIVING OF EXPORT FCL CONTAINERS AND La CARGO Record Boott«/B*nce tofts Ship Voy No Elb/Btr Period From To From Ato 69S 02/2245 3 01/0700 01/1159 01/1400 4 01/1200 01/1459 01/1700 Al Stan* 75 02/0700 2 30/1700 01/0659 01/0900 3 01/0700 01/1159 01/1400 Ar JayaUta XXXXX 02/0300 2 30/1700

SINGAPORE – MALAYSIA COMPANY NEWS

Natsteel group submits highest bid of $131m [ARTICLE + ILLUSTRATION]

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Natsteel group submits highest bid of $131m Sale of STPB sites in East Coast By Elaine Koh THE NATSTEEL group has put in the highest bid of $131 million in Singapore's biggest land sale which is to turn 126 hectares in East Coast into a lucrative leisure proposition. Close on

MCH accounts reveal a much brightened picture [ARTICLE]

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MCH accounts reveal a much brightened picture By Amy Balan THINGS are definitely looking much better at Marina Centre Holdings, an associate company in which Singapore Land is keen to raise its stake. Not only had MCH's legendary losses narrowed last year, with a return to the black expected this

HL Credit admitted as KLSE member [ARTICLE]

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HL Credit admitted as KLSE member Bernama HONG LEONG Credit Bhd has been admitted as a corporate member of the Kuala Lumpur Stock Exchange following its move to acquire a 51 per cent stake in stockbroking house Zalik Securities. James Lim, its senior group managing director, said yesterday that with

Bedford's acquisition of a 21pc Mycom stake raises eyebrows [ARTICLE]

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Bedford's acquisition of a 21pc Mycom stake raises eyebrows THE HOCK LOCK SIEW COLUMN By William Chia THE RECENT announcement by the Malaysian Hong Leong's flagship property group, Bedford Bhd, that it has acquired 21.4 per cent of former electrical product-turned-gaming group Mycom Bhd has attracted a number of questions

Associate's contributions lift Metro results [ARTICLE]

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Associate's contributions lift Metro results By Susanne Soh A HIGHER contribution from associate companies has enabled Metro Holdings to report a group after-tax profit of $2.83 million for the halfyear ending Sep 30, a reversal from a near $1 million loss situation in the same period last year. The group's

COMPANY BRIEFS

Sum Soon Lim named OUS director [ARTICLE]

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Sum Soon Lim named OUS director OVERSEAS Union Securities has appointed Mr Sum Soon Lim, executive vice-president of Overseas Union Bank Ltd, as an additional director with effect from November 30, 1990.

Summa answers SES queries [ARTICLE]

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Summa answers SES queries SUMMA Investments Ltd has replied to the Stock Exchange of Singapore's queries about Gladioli Investments and Monticn International Ltd. It said that Mrs Endang Utari Mokodompit was the sole shareholder of Montien International, which is incorporated in the British Virgin Islands. Gladioli's share of the Bugis

Grand Central to buy Johor land [ARTICLE]

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Grand Central to buy Johor land HOTEL Grand Central is purchasing a 54,520 sq ft of commercial land in Johor, Malaysia for M 59.81 million. The company announced yesterday that the vendor is Sembaru Bhd and the property comprises three lots of land located at Jalan Tebrau and Jalan Datuk

Two Prima directors raise stake [ARTICLE]

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Two Prima directors raise stake PRIMA Ltd has announced that two of its directors, Messrs Cheng Tsang Man and Cheng Chih Kwong, have increased their stake in the company by acquiring a total of 650,(XX) shares of $1 each at $5.25 per share. The shares have been registered under Chengs

IMC Holdings profits fall [ARTICLE]

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IMC Holdings profits fall IMC HOLDINGS Ltd has reported a profit before tax of HK588.42 million (HK5238.92 million) for the six months ended September 30, 1990. This was achieved on a turnover of HK5176.42 million (HK5161.87 million). No provision for tax is required for the six months under review. Its

Two units join Intraco stable [ARTICLE]

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Two units join Intraco stable INTRACO has acquired the total shares of Sintra Marine International and Intraco Motors, which were incorporated on September 28 and October 8, 1990 respectively.

Leisure Holidays' expansion [ARTICLE]

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Leisure Holidays' expansion LEISURE Holidays Sdn Bhd. a leisure and accommodation company associated with the MBf group which started its business only three years ago, is becoming a property developer, specialising in tourism-related properties. The company, which has already built two resorts the MSB.B million leisure bay, a 20-storey condominium

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BT SURVEYS Looking Wider, Thinking Deeper Some suttfects are of such interest to our readers that they demand more space and more research than can be given in our dally reporting. As part of BT's overall service we have always recognised this and taken the necessary steps. Filling the gap

COMPANY NEWS

COMPANY BRIEFS

Jardines proposes scheme for HK stocks [ARTICLE]

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Jardines proposes scheme for HK stocks BLUE-CHIP Hongkong trading house Jardine Mathcson Holdings has proposed a scheme to exempt large Hongkonglisted companies from future securities industry regulations. The company's general counsel Greg Terry said at a seminar that some major firms are worried about subjecting their international assets to regulations

Perrier appeals court decision [ARTICLE]

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Perrier appeals court decision FRENCH beverages group Source Perrier has appealed a commercial court decision annulling its rights to Pepsico France's bottling and distribution activities. The Nov 27 court decision would allow Pepsico France's parent company, the US beverage, snack food and restaurant firm Pepsico, to recover the bottling and

Peko closes scheelite mine [ARTICLE]

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Peko closes scheelite mine NORTH BROKEN Hill Peko has closed its scheelite mine at King Island, Tasmania, yesterday because it has not found a buyer. It said the price of scheelite, a tungsten ore mineral, had steadily deteriorated since 1981, making the mine uneconomic. "The market situation is unlikely to

Kobe Steel signs USSR deal [ARTICLE]

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Kobe Steel signs USSR deal KOBE STEEL and the Soviet Union's State Committee for Science and Technology have signed a three-year contract to exchange technical information, a Kobe Steel spokesman said. Kobe and the committee will mainly exchange information on new materials and biotechnology, he said. Kobe is also considering

Asahi to buy stake in Sklo [ARTICLE]

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Asahi to buy stake in Sklo JAPAN'S Asahi Glass said it would acquire a 40 per cent stake in the sheet glass division of the largest glass producer in Czechoslovakia. The Belgian subsidiary of Asahi, Japan's largest comprehensive glass manufacturer, will invest an unspecified sum in the state-run Sklo Union,

Shin-Etsu to build silicone plant [ARTICLE]

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Shin-Etsu to build silicone plant SHIN-ETSU Chemical Co will build a plant that will produce an annual 22,000 tonnes of silicone monomers starting in April 1992, a company spokesman said. Shin-Etsu Chemical will invest about 20 billion yen in the plant, which will be built in Gunma prefecture. The company

British Steel may axe up to 2,000 jobs [ARTICLE]

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British Steel may axe up to 2,000 jobs Reuter BRITISH Steel pic is expected to slash 1,500 to 2,000 administrative jobs in the first few months of 1991 as part of its cost cutting drive, analysts said. "Two thousand are likely to go in the very near term; 25 per

Fuel guzzlers bring US carmakers needed profits [ARTICLE]

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Fuel guzzlers bring US carmakers needed profits Reuter US CARMAKERS have been criticised recently for bringing out "full-sized" cars at a time when oil prices are skyrocketing, but analysts said they have little choice given the industry's weak condition. This year, both General Motors Corp and Ford Motor Co came

Pickens to comply with Japanese disclosure rule [ARTICLE]

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Pickens to comply with Japanese disclosure rule Reuter TEXAS oilman T Boone Pickens will comply with a new rule requiring him to disclose information about his holdings in Japanese carparts maker Koito Manufacturing Co Ltd, a lawyer representing Mr Pickens in Tokyo said. "He will disclose what he has to,"

Reuters Asia chief to head group [ARTICLE + ILLUSTRATION]

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Reuters Asia chief to head group Reuters managing director and chief executive Glen Renfrew (left) with Peter Job, currently managing director of Reuters Asia after a press conference at Reuters headquarters in London on I hursday. Mr Renfrew will retire on March 1 next year and will be succeeded by

Tokyo gangsters hold major stake in listed company [ARTICLE]

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Tokyo gangsters hold major stake in listed company AP MOBSTERS of Japan's top underworld syndicate have become the second-largest shareholders in a huge textile company in what police say is the largest known case of gangster activity on the Tokyo stock market. Police and company sources said on Wednesday that

Citibank's success in Japan spurs US companies [ARTICLE]

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Citibank's success in Japan spurs US companies Reuter UNITED STATES lenders, investment banks and rating agencies arc eyeing a fledgling Japanese asset-backed securities market following Citibank's victory in cracking the tightly-regulated Japanese financial scene. Scars, Roebuck and Co has filed an application after Japan's Ministry of Finance in September recognised

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FINANCIAL NEWS

Foreign financial bodies plan Shanghai ventures [ARTICLE]

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Foreign financial bodies plan Shanghai ventures Reuter TWO joint ventures involving foreign financial institutions might be set up in Shanghai by the middle of next year, banking sources in Hongkong said. Shanghai said in September that foreign companies could set up joint venture banks and financial companies with Chinese partners

Call to rebuild US financial system [ARTICLE]

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Call to rebuild US financial system Reuter INCOMING Securities Industry Association chairman Dale Horowitz has urged the US Congress, the White House, the Federal Reserve and the Treasury to hold a financial summit on restoring the structure of the US financial system. "We need to have a financial summit," Mr

SMALL CHANGE

HongkongBank chief warns of wage inflation [ARTICLE]

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HongkongBank chief warns of wage inflation THE CHAIRMAN of the Hongkong and Shanghai Banking Corp Ltd, Mr William Purves, warned that labour was no longer a cheap and plentiful commodity in Hongkong and said inflationary wage settlements threatened to erode the colony's competitive edge. "Wage inflation in Hongkong has become

Dresdner needs large write-offs [ARTICLE]

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Dresdner needs large write-offs DRESDNER Bank AG will need to make relatively large write-offs in its bond and share portfolios to cope with the current market situation, the bank said in a letter to shareholders. Dresdner said profits from trading on its own account had shown above-average growth in the

Nomura to open Hungary unit [ARTICLE]

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Nomura to open Hungary unit NOMURA Securities Co Ltd plans to open an investment bank unit in Hungary in January jointly with the International Finance Corp (IFC), and two other Hungarian firms, a Nomura official said. Nomura Investment Bank Hungary Rt will be capitalised at 2.4 billion yen and owned

Bank training for E Europeans [ARTICLE]

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Bank training for E Europeans DAIWA Europe Ltd, the London subsidiary of Daiwa Securities Co Ltd, said it will start a London-based training programme for middle managers in the Eastern European financial sector early next year. The scheme follows establishment of a joint training initiative for the region between the

US$ breaks resistance line [ARTICLE + ILLUSTRATION]

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US$ breaks resistance line DBS Bank weekly currency review US$/Dm: Bears going into hibernation? LAST FRIDAY'S close above the resistance of 1.4820 was the first hint of possible US dollar rally, which was subsequently confirmed when the greenback continued to trade higher this week. It broke the resistance line joining

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Page 5 Miscellaneous Column 1 [MISCELLANEOUS]

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Dollar$ Non$en$e \|r .1 \qr\ "Send in more green, Mrs. Philbin."

THE REGION

NOTE BOOK

Suharto to visit India in January [ARTICLE]

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Suharto to visit India in January INLX)NESIAN President Suharto will visit India in January to attend Republic Day celebrations and hold talks on forging closer relations between the two countries, officials said yesterday. Mr Suharto has accepted India's invitation to be chief guest at the Republic Day parade in New

Vietnam-Australia flights soon [ARTICLE]

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Vietnam-Australia flights soon VIETNAM has signed an agreement with the Australian national carrier, Qantas, to open direct air links between the two countries, the official Vietnam News Agency said yesterday. Qantas and Vietnam Civil Aviation's General Company would stage an inaugural flight between Sydney, Melbourne and Ho Chi Minh City

Sheep population to be shorn [ARTICLE]

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Sheep population to be shorn BURDENED by too many sheep and too much wool, Australia's wool industry the world's largest exporter is preparing a controversial programme to do something about it. Starting next week, the industry says it will kill 10 per cent of the nation's sheep under a plan

Underground rail for Canton [ARTICLE]

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Underground rail for Canton CHINA'S State Planning Commission has approved plans by the southern city of Canton to build a 12.7 km underground railway, the Beijing-owned newspaper Ta Kung Pao said. The newspaper, published in Hongkong, quoted an unnamed government official as saying the total investment would be $794 million.

Fiji seeks Malaysian products [ARTICLE]

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Fiji seeks Malaysian products FIJIAN Prime Minister Ratu Sir Kamisese Mara said on Thursday that Fiji, which imports most of its food and equipment from Australia and New Zealand, is looking towards Malaysia as an alternative source for these goods. He said before leaving for Singapore after a six-day visit

Indonesian police criticised [ARTICLE]

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Indonesian police criticised SOME 50 leading figures from the Indonesian arts and cultural world criticised police for banning a satiricaj comedy and called for legal action against the authorities, the leading Kompas daily said yesterday. Prominent playwrights, poets, musicians and others from the Arts Society held an impromptu gathering at

Japanese investors in S-EA come under fire [ARTICLE]

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Japanese investors in S-EA come under fire AFP JAPANESE firms operating in South-east Asia came under fire on Thursday for failing to use local parts and train local people. "The time has come for Japanese investors to change their philosophy," Malaysian Industrial Development Authority chairman Abidin Sulong said. Mr Sulong.

Time for a light moment [ARTICLE + ILLUSTRATION]

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Time for a light moment Philippine President Corazon Aquino shared a light moment with (from left) Vice-President Salvador Laurel, House Speaker Ramon Mitra, Senate president Jovito Salonga, Senator Aquilino Pimentel and opposition Senator Juan Ponce Enrile after a mass for peace and reconciliation in Manila yesterday.

Thai minister criticised for loan rate increase [ARTICLE]

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Thai minister criticised for loan rate increase THAILAND'S Deputy Premier Pramual Sabhavasu earlier this week took to task Finance Minister Virabongsa Ramangkura in a cabinet meeting for his decision to raise the interest rate ceiling on loans from 16.5 per cent to 19 per cent. According to a Nation report,

Manila puts its weight behind petrochem plant [ARTICLE]

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Manila puts its weight behind petrochem plant Reuter THE Philippine government has asked the Supreme Court to reverse its ruling halting the transfer of a Taiwanese petrochemical project, saying the decision could choke foreign investment in the Philippines. "Your decision will ring the death knell of foreign investments in the

Latest Australian data set to preclude further easing of monetary policy [ARTICLE]

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Latest Australian data set to preclude further easing of monetary policy Reuter ANOTHER easing of Australian monetary policy this year is in doubt despite a sharper than expected contraction in the economy in the September quarter, economists said. Although Treasurer Paul Keating conceded another interest rate cut by year-end is

North Korea ready to open visa office in Macao [ARTICLE]

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North Korea ready to open visa office in Macao AP COMMUNIST North Korea is set to open a visa office in the Portuguese colony of Macao, seeking tourists and business from capitalist countries, its honorary consul said. Wong Sing-wa, a Hong-kong-based businessman and managing director of DPR Korea-Macao International Tourism

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FOR WHO, WHAT, WHERE AND WHIN in THE MARKET. ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in

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Toyota Motor Corporation I I extends its heartiest congratulations to ifiliifL- fc JgLli jll IMWEquipment Systems Pie. Ltd. SUPERIOR PERFORMANCE Toyota's world-first technology helps you work more efficiently 25th Anniversary of your PARTNERSHIP WITH TOYOTA. We thank you for your past co-operation and look forward to your continued support. O

THE WORLD

WORLD WATCH

US pays US$186m to United Nations [ARTICLE]

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US pays US$186m to United Nations US SECRETARY of State James Baker on Thursday handed over to UN Secretary-General Javier Perez dc Cuellar a cheek for UXXXXX,732,250, as payment towards the US contribution to the world body. The US yearly contributes 25 per cent of the UN budget the maximum

Call to widen Nato's role [ARTICLE]

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Call to widen Nato's role SECRETARY-GENERAL Manfred Woerner, saying lessons must be drawn from the Gulf crisis, proposed in London on Thursday an accord within Nato to grant Alliance facilities to members involved in conflicts outside Europe. In a speech to the North Atlantic Assembly, Mr Woerner also ruled out

Fund to protect environment [ARTICLE]

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Fund to protect environment INDUSTRIAL and developing countries agreed in Paris this week to establish a new fund within the World Bank devoted to protecting the global environment. The US, which had resisted the formation of such a fund, has now conditionally agreed, Bush administration and bank officials said on

Walesa issues warning [ARTICLE]

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Walesa issues warning LECH WALESA on Thursday accused former communists of mounting a "counter-revolution" by supporting emigre businessman Stanislaw Tyminski, his opponent in the Dec 9 runoff of Poland's first popular presidential election. "Today this is a challenge from the old nomenklatura, security service, and activists of old Poland who

Low turnout at Egyptian polls [ARTICLE]

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Low turnout at Egyptian polls EGYPTIAN VOTERS showed little enthusiasm for Thursday's lacklustre general elections in which victory for the ruling National Democratic Party was a foregone conclusion. Three major opposition parties boycotted the polls in protest against the way the voting was to be supervised, saying there were too

Li Peng to visit four nations [ARTICLE]

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Li Peng to visit four nations CHINESE PRIME MINISTER Li Peng is to visit Malaysia, the Philippines, Sri Lanka and Laos from Dec 10-19, a Foreign Ministry spokesman said in Beijing on Thursday. The last such round of official visits was in August and brought China significant diplomatic gains and

Japan now hits out at US for not buying its supercomputers [ARTICLE]

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Japan now hits out at US for not buying its supercomputers NYT FOR YEARS, American makers of supercomputers have complained that the Japanese government has refused to buy any Americanmade versions of the world's fastest problem-solvers. Now it is the Japanese who are complaining. A few weeks ago, NEC Corp

Major faces harsh economic realities with optimism [ARTICLE + ILLUSTRATION]

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Major faces harsh economic realities with optimism Reuter JOHN MAJOR, on his first full day as British Prime Minister, played down the huge challenges of beating an economic recession and emerging from the shadow of Margaret Thatcher. Mocked by an opposition Labour Party member about the "back-seat driver" role some

EC members differ on Soviet food aid [ARTICLE]

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EC members differ on Soviet food aid Reuter DIFFERENCES have emerged within the European Community on sending food aid to the Soviet Union, with Italy warning that disaster eould ensue if help is long delayed, and other countries stressing the need for caution. As Germans pledged millions of marks worth

Dairy prices fall as output rises, says Gatt report [ARTICLE]

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Dairy prices fall as output rises, says Gatt report Reuter WORLD dairy prices slipped this year from record levels in 1989 as production continued to grow, an annual dairy report from the world trade body Gatt said yesterday. But a trend towards lowfat and blended dairy spreads reduced butter consumption

Fed restricted in its moves to relieve oil-price woes [ARTICLE + ILLUSTRATION]

Page 8

Fed restricted in its moves to relieve oil-price woes Impact of the Gulf crisis AP FEDERAL RESERVE Chairman Alan Greenspan can only do so much to ease the pain of oil-price problems from the Gulf crisis, analysts say. He can cut interest rates a bit in hopes of stimulating the

Call for peace moves despite resolution [ARTICLE]

Page 8

Call for peace moves despite resolution UPI THE UN Security Council approved on Thursday a resolution authorising use of force against Iraq, but the major United Nations powers called instead for a peaceful solution to the Persian Gulf conflict. The 15-nation council allowed the military measure with a 12-2-1 vote

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Page 9

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STOCK EXCHANGE OF SINGAPORE 1

Late bargain-hunting helps market pare losses [ARTICLE + ILLUSTRATION]

Page 10

Late bargain-hunting helps market pare losses By William Chia SHARE PRICES ended easier yesterday but off the morning's lows as a partial recovery in Tokyo led to late bargain-hunting. The Straits Times Industrials Index fell 2.82 points to end at 1,106.59 after falling to 1,100.36 at the morning close. The

STOCK EXCHANGE OF SINGAPORE 2 [ARTICLE]

Page 11

STOCK EXCHANGE OF SINGAPORE 2 Main Board SNP 50* 500 158 28 21.5% UOB Wt 215 +19 +9.7% DBS 930 +15 +1.6% Shangri-La 494 +14 4-2.9% S Unil Wits 228 +13 +6.0% SSE 25* 125 +11 +9.6% SPH 705 +10 +14% LAM Wt 70 +9 +14.8% L&M 50" 193 *6

KUALA LUMPUR STOCK EXCHANGE

Last-minute buying lifts shares above day's lows [ARTICLE + ILLUSTRATION]

Page 12

Last-minute buying lifts shares above day's lows Bernama SHARE PRICES in Kuala Lumpur closed lower yesterday but off the day's lows following some last-minute buying. The KLSE Composite Index ended 0.91 of a point down to 464.71 after touching 460.16 at the start of the afternoon session while the Industrial

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Page 12

husbands who On Sept 18, a young accounts clerk died in agony after her husband lit a match and set her on fire. What are the early warning signs of men who hound, even kill, their wives or girlfriends? Don't miss too in December s Her World WHAT SINGAPORE WOMEN

TOKYO STOCK EXCHANGE

Nikkei closes lower at end of a volatile day [ARTICLE + ILLUSTRATION]

Page 13

Nikkei closes lower at end of a volatile day Reuter TOKYO STOCKS closed lower yesterday but well off their lows. The key Nikkei Index Jell more than 700 points on a weaker yen in the morning session, but recovered more than hall of its losses in the afternoon on buying

STOCK EXCHANGE OF HONGKONG

Stocks reduce early losses on Tokyo's late recovery [ARTICLE + ILLUSTRATION]

Page 13

Stocks reduce early losses on Tokyo's late recovery SHARE priccs ended lower in thin turnover after rebounding from their lows after the Tokyo market recovered some ot its earlier losses, dealers said. "The Nikkei's recovery in the afternoon lent a little bit of support to the Hongkong market said James

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Page 13

IFOR SUCCESSFUL YOUR BUSINESS Each Monday MANAGEMENT pages in Read CHARTPOINT, a guide to investing in the stock market. Every Saturday in BT.

REGIONAL STOCK MARKETS

Aussie stocks end lower on Gulf fears

MORGAN STANLEY CAPITAL INTERNATIONAL INDICES [ARTICLE]

Page 14

MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local cui rrency IB S$ la US$ day year day year day year NOV 29 Index change change change cl lange cnange ci tange World fEAFF. Europe Pacific Far East 347.6 457.4 366.3 741.9 961.6 -04 -0.8 -0.3 -1.2 -1.3 -25.2 -32.8 -18.7 -41.4

INDICES & TURNOVER [ARTICLE]

Page 14

INDICES TURNOVER Close Nov JO Previous SYDNEY All Ordinance Index All Industrials Index All Resources Index Turnover (million) 1311.6 1987.1 802.4 111.62 1338.4 2014 6 816.3 81.68 188 -27.5 -13.9 29.94 BANGKOK SET Index Turnover (million) 544.30 1.200.0 558.20 1.186.1 -13.90 f 13.9 JAKARTA Composite Index Turnover (nearest "(XX)) 382.20.

AUSTRALIA [ARTICLE]

Page 14

AUSTRALIA AUSTRALIAN shares slumped to their lowest level in three weeks yesterday as investors became anxious over the UN Security Council's decision to back the use of force against Iraq if it refuses to quit Kuwait. Brokers said the market recorded its largest one-day fall for the month in heavy

BANGKOK [ARTICLE]

Page 14

BANGKOK THAI share prices finished lower in thin trade as bearish sentiment over economic and political uncertainty continued to dominate the market, brokers said. The SET Index fell 13.90 points to end at 544.30 in volume of 1.2 billion baht. Declines led advances 138 to 23. Most active were Asia

TAIPEI [ARTICLE]

Page 14

TAIPEI TAIWAN stocks finished sharply higher on strong financials in volatile trade yesterday, dealers said. The weighted index surged 167.13 points, or four per cent, to end at 4,377.27 compared with Thursday's 4 210.14 finish. Turnover rose to NT566.9 billion from NT554.5 billion. Dealers said investors did not consider the

NEW ZEALAND [ARTICLE]

Page 14

NEW ZEALAND NEW ZEALAND share prices bounced around to close at another six-year low in quiet trade yesterday. Carter Holt Harvey, which yesterday posted a NZ577.86 million first half profit, down from NZ$9l.OB million the corresponding period last year, was initially sold down to NZ$2.O5 on the news but then

SEOUL [ARTICLE]

Page 14

SEOUL SEOUL stocks rose in moderate trade yesterday with buying focussed on shortterm finance and securities firms on fa- vourable investor sentiment towards the government's plans to streamline the financial sector, brokers said. The composite index closed at 697.03, up 4.48 points from Thursday's close. Turnover was 204 billion won

JAKARTA [ARTICLE]

Page 14

JAKARTA Reuter MOST prices on the Jakarta's regular market closed lower yesterday, with the official index down 2.59 points at 382.20. Volume fell to 1.43 million shares from Thursday's 1.44 million. Cigarette shares were well traded on the big board, with Sampoerna and Gudang Garam leading the market. They said

Untitled [ARTICLE]

Page 14

Manila 29 No* Ptso +/-Vol C000) Abra Mining .01 unch 5000 Alcorn M A 013 unch XXXXX0 Anglo Phil A 005 Anscor A 1. 120 unch 130 Anscor B 3.500 Apex Mining A .006 +.001 XXXXX Ape* Mining B .006 Atlas Cons A 22.250 .250 19 Atlas Cons B 24.000

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Page 14

Closing prices for all markets except Taipei are provided by Telerate. Read Chartpoint, a guide to investing in the stock market. Every Saturday in BT.

WORLD STOCK MARKETS

Sectional gains fail to stop Dow slide

NEW YORK [ARTICLE + ILLUSTRATION]

Page 15

NEW YORK POCKETS of strength in the drug and technology scctors and continued gains in small-capitalisation issues on Thursday failed to offset the US stock market's jitters about a possible war in the Mideast. A news report that British troops in Saudi Arabia had been put on a raised alert

LONDON [ARTICLE + ILLUSTRATION]

Page 15

LONDON UK SHARES wiped out early losses to stand higher in morning trading yesterday, as fears of a Gulf war failed to scare the market. News the United Nations has endorsed a US resolution authorising the use of force if Iraq fails to leave Kuwait by Jan 15 initially hurt

AMSTERDAM [ARTICLE]

Page 15

AMSTERDAM DUTCH shares started with a positive tone in quiet trade yesterday supported by a firmer dollar and steady British and German bourses. After an hour's trade the CBS Tendency Index was 0.2 points higher at 94.5. Business remained thin, although Thursday's UN Security Council resolution brought some investors back

FRANKFURT [ARTICLE]

Page 15

FRANKFURT GERMAN share prices jumped nearly one per cent at the opening, lifted by the strength of the dollar and speculative buying ahead of the first free German elections in nearly six decades on Sunday. The 30-sharc DAX index climbed 13.27 points shortly after opening to 1,432.19, but then cased

JOHANNESBURG [ARTICLE]

Page 15

JOHANNESBURG JOHANNESBURG share prices drifted aimlessly on Thursday in dull and uncertain trading as unpredictable swings in the financial rand continued to leave the market floundering in search of clear direction, dealers said. After surging to a 3.42 per dollar closc on Wednesday the restricted foreign investment currency fell back

MILAN [ARTICLE]

Page 15

MILAN SHORT-covcring helped Italian shares recover at the opening of settlement day of the November trading account, brokers said. The MIB index was shown one Dcr cent at 1030 GMT. "There was some caution at the start, but settlement went smoothly and this triggered the buying," one dealer said. There

PARIS [ARTICLE]

Page 15

PARIS FRENCH share prices were steady at midscssion as the market appeared to have already discounted the United Nations Security Council resolution authorising the use of force against Iraq, traders said. The CAC-40 index was up 1.00 point at 1,608.06 at 1205 GMT. "We've been hearing about war for months

STOCKHOLM [ARTICLE]

Page 15

STOCKHOLM PRICES on the Stockholm bourse fell anew yesterday after Thursday's gains due to increased worries of a possible war in the Gulf after last night's UN security Council resolution, dealers said. By mid-morning, the bourse general index had lost 0.35 per cent to 815.99 in moderate turnover of 108

TORONTO [ARTICLE]

Page 15

TORONTO FEARS of a Gulf war sent Toronto stocks tumbling to close near session lows on Thursday, dealers said. US officials said they had no reports confirming rumours that shots had been fired in the Gulf, but refused to say if shots had been fired over the bow of a

ZURICH [ARTICLE]

Page 15

ZURICH Reuter SWISS shares closed a directionless session on Thursday little changed as investors stood sidelined ahead of the UN security council's vote later on Thursday on whether to authorise the use of force against Iraq, dealers said. They added Wall Street's lower opening, Frankfurt's mixed close and high Swiss

Untitled [ARTICLE]

Page 15

Brussels No* 29 Kraaa FORWARD MARKET Accc 2775 M75 Arhcd 3010 unch Aslur 980 -24 Brascan 3X0 Canpac 492 unch Cock 132 -5 Dc Beers 580 H4 Hbcs 4450 35 (■b-lnno-Bm.. 1082 Cicvaert 6300 -120 (»r Bru Umh 3400 -15 I lobok Pet XXXXX f 25 Ryl Dutch 2430 +15

INDICES & TURNOVER [ARTICLE]

Page 15

INDICES TURNOVER Nov 29 lose Previous NEW YORK 1 X>w Jones 2.518.81 2.535.15 -16 34 NYSF. Financial 115 55 116.41 -0 86 S&l' 500 316.42. 317.95 -1.53 Turnover (milium) 141 146 -5 LONDON Financial rimes 30 1.674.8 1.686 21 -11.4 FTSF. 100 2.135.6 2.144 32 -8.7 Turnover (million) 415.4 381.5

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Page 15

Innovation Technology in BT every Tuesday

CURRENCY, MONEY & FUTURES MARKETS

Greenspan's remarks send yen, D-mark lower against US$ [ARTICLE]

Page 16

Greenspan's remarks send yen, D-mark lower against US$ REPORTS THE DEUTSCHEMARK and yen yesterday opened sharply lower against the US dollar in Frankfurt on the back of comments by US Federal Reserve chairman Alan Greenspan and the UN vote authorising the use of force against Iraq. Mr Greenspan's remarks this

INTERBANK FOREX RATES [ARTICLE]

Page 16

INTERBANK FOREX RATES Cross rates Nov 30 US$ SS MS Dm Yen SFr AS NZS USS 1.7180 2.7045 1.5030 133.15 XXXXX 1.2800 1.2920 1.6447 SS 0.5821 1.5742 0.8749 0.7750 0.3002 0.745 0.7520 0.9574 MS 0.3698 63.52 0.5557 0.4923 0.1907 0.4733 0.4777 0.6081 Dm 0.6653 1.1430 1.7994 88.59 0.3431 0.8516 0.8596

Fletcher calls for sacking of bank governor [ARTICLE]

Page 16

Fletcher calls for sacking of bank governor AFP THE head of New Zealand's largest public company yesterday demanded the sacking of Reserve Bank Governor Don Brash and senior officials of the central bank and Treasury. Hugh Fletcher of Fletchcr Challenge Ltd said in an opening address to an economic conference

Quotation of Singapore Government Stocks as at November 30,1990 [ARTICLE]

Page 16

Quotation of Singapore Government Stocks as at November 30,1990 Coupon Intweat Number Indleattv* Oraw Maturity Y*ar Amount of day* of *7 redemption ralMd rat* <% P») payment dates accru*d Interest (•xciudlng accrued lnt*r**t) yivto P«) 1.4.91 NXXXXX0E 1989 4 7/8# 500.00 1/4 1/10 60 100.40# 3.64# 15.4.91 Loan 1 1976

FINANCIAL FUTURES [ARTICLE]

Page 16

FINANCIAL FUTURES SIMEX EUtOOOUJUl Opcii High Low Sett Est Vol Op/lnt Vol Doc 90 91.67 91.73 91.64 91.70 8000 XXXXX 487? Mar 91 92.15 92.28 92.15 92.25 XXXXX XXXXX 9536 Jun 91 92.35 92.43 92.34 92.43 4300 8117 2644 Sep 91 92.33 92.41 92.32 92.41 1200 2440 1732 Doc 91

MONEY MARKET [ARTICLE]

Page 16

MONEY MARKET Interbank rates S$ Bid Offer Overnight 5 3/4 6 1-month 5 11/16 S 13/16 2-month 5 13/16 S IS/16 3 month 5 15/16 6 1/16 Overnight mode: 5 US$ Bid Offer 7 days 7 13/16 7 15/16 1 month 8 13/16 8 15/16 2 months 8 7/16 8

COMMODITIES

Gold market in throes of a deep structural change [ARTICLE]

Page 17

Gold market in throes of a deep structural change Reuter A RECENT spate of companies leaving the London gold market or rationalising their operations is a symptom of a deep structural change in the market which has come to a head in the past year, analysts said. Gold has been

New rice futures market faces critical test in London [ARTICLE]

Page 17

New rice futures market faces critical test in London Reuter A CRITICAL early period will determine whether a new white rice futures contract in London will transform trade in the commodity or see interest quietly fizzle out, traders said. The London Futures and Options Exchange (FOX) launched the contract yesterday.

KL tin maintains rise in thin buying interest [ARTICLE]

Page 17

KL tin maintains rise in thin buying interest REPORTS THE tin pricc on the Kuala Lumpur Tin Market continued to gain ground, closing 17 sen higher at M 515.72 per kg in very thin buying interest. Besides the steadier overnight close on the London Metal Exchange which was up by

PRICES [ARTICLE]

Page 17

PRICES Rubber Nov 30 MS(fcH«b«te») S cents/kg Noon Close Int I RSS Prompt I55.50/156.50N 155.25/156.25 Int I RSS Dec 90 155.50/156.50 155 25/I56.25N Int I RSS Jan 91 154.25/154.75 154.00/154.50N Int 2 RSS OP 149.00/151.00N 149.00/151 OON Int 3 RSS OP 144 00/146.00N I44.00/I46.00N Int 4 RSS OP I40.00/I42.00N 140

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Page 17

Executive Jobs every Saturday in Business Times

Page 17 Advertisements Column 2 [ADVERTISEMENT]

Page 17

NOTICES 1 ONfTED INDUSTRIAL CORPORATION LTD (hcorpoiMad r ta tapuMc o( Sang^m) LOST SHARE CERTIFICATES Applications have been made to the Directors of the abovenamed company to issue duplicate certificates m place of the following share certificates which have been reported lost or destroyed Nttfiaa CnHlcalw Nr Ma— slfMMgb XXXXX490

BG Lee to attend final Uruguay Round meeting [ARTICLE + ILLUSTRATION]

Page 18

BG Lee to attend final Uruguay Round meeting Gatt trade talks By Yong Pow Ang DEPUTY Prime Minister, Lee Hsicn Loong, will be attending next week's final meeting of the Gatt Uruguay Round negotiations in Brussels, after which he will pay a five-day visit to France. Brigadier-General (Res) Lee, who

Call for new Asean strategies [ARTICLE]

Page 18

Call for new Asean strategies AFP JAPANESE businessmen yesterday called for new trade and investment strategies for Asean to reflect Japan's growing economic ties with the region. "We want Asean nations to reach the same level as us," Nissan Motor Co Ltd chairman Takashi Ishihara said. Otherwise, Japan would not

Highest Japanese inflation in eight years [ARTICLE]

Page 18

Highest Japanese inflation in eight years AFP SHARP increases in food and energy prices pushed Japan's inflation rate to its highest point in eight years, the Management and Coordination Agency said in a preliminary report yesterday. Consumer prices in Japan jumped 3.5 per cent in October from a year earlier,

Thailand, China to increase trade [ARTICLE]

Page 18

Thailand, China to increase trade Reuter CHINA and Thailand plan to expand their trade by 20 per cent next year in an agreement signed in Beijing, official reports said. Thailand will export rice, sugar, rubber, tapioca and tapioca products for Chinese petroleum, oil products, cement, coal, cotton, medical and other

Bush confident of economic recovery [ARTICLE]

Page 18

Bush confident of economic recovery NYT AFTER MEETING with his economic advisers, US President George Bush reiterated his confidence on Thursday that the nation's economy would improve soon. In a brief speech to the Association of Bank Holding Companies, meeting in Washington this week, the President said: "We are in

Stock exchange on fire [ARTICLE + ILLUSTRATION]

Page 18

Stock exchange on fire Smoke billows from the Brussels stock exchange, and it isn't due to overheated rumours. The fire broke out early yesterday, causing extensive damage to the ornate 19n century building. There were no injuries.

Roh urges trade volume of US$200b [ARTICLE]

Page 18

Roh urges trade volume of US$200b AFP SOUTH KOREAN President Roh Tae-Woo said that growth in foreign trade was the only path to prosperity, calling for Seoul trade volume to reach US$2OO billion by the mid-XXXXX. Speaking at an annual Trade Day ceremony to decorate exemplary traders, Mr Roh said

European investment lagging, says KL [ARTICLE]

Page 18

European investment lagging, says KL Bernama EUROPE is trailing behind Taiwan and Japan in the rapidly expanding investment in Malaysia's manufacturing sector, International Trade and Industry Minister Datuk Scri Rafidah Aziz told a group of British manufacturers at an investment seminar in London. In the speech, read by Malaysia's High

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Page 18

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Page 18 Advertisements Column 2 [ADVERTISEMENT]

Page 18

Japanese investors in S-EA come under fire, Pg 6

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Page 18

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Executive Lifestyle

And once there was a boy named Pietro [ARTICLE + ILLUSTRATION]

Page 19

And once there was a boy named Pietro French designer Pierre Cardin started out as an Italian. Little did he know that by changing his name, he would grow to be a pioneer in the fashion industry. Samuel Ee speaks to the tycoon who does everything from clothes to designer

STRAWS IN THE WIND

Clarifying matters [ARTICLE]

Page 19

Clarifying matters NOW who says stat boards aren't understanding? For those who've never been able to figure out HDB's rules and regulations, the board recently called a press conference aptly titled "Defect Rectification and Overcoming the Overdose of Rules and Regulations".

Bated breath [ARTICLE]

Page 19

Bated breath A GROUP of people were eating and drinking merrily when a prominent MP walked in to have dinner. Although they'd prettv much finished, they decided to wait until he had finished. Not so much out of respect or anything, but because there were a lot of cops around

Introducing Introducer [ARTICLE]

Page 19

Introducing Introducer HERE'S another addition to the load of dating agencies with fancy names: Introducer. Sounds like a brand of insecticide though, said one sceptic.

Ode to Hussein [ARTICLE]

Page 19

Ode to Hussein HEARD at the Cellar the other day. The group, Terry, Hans and Philip singing these lyrics to the tune of Eric Clapton's Cocaine: "He's alive, he's alive, he's alive, Hussein" followed by "He'll be dead, He'll be dead, He'll be dead, Hussein." They may not be very

OPINIONS

The unique opportunity offered by cable TV in Hongkong [ARTICLE]

Page 20

The unique opportunity offered by cable TV in Hongkong LETTERS TO THE EDITOR Stephen Ng Managing Director The Wharf (Holdings) Ltd I REFER to the article "Satellite TV dishes out egg on the faces of cable partners" in the Hock Lock Siew Column (BT, Nov 20). Firstly, it is important

Why port development cannot go on inexorably [ARTICLE]

Page 20

Why port development cannot go on inexorably Dr Eugene Ung I REFER to The Bottom Line commentary "Decisions Please" (BT, Nov 29), in which you advocated use of the land at Nelson Road for economic rather than for environmental purposes with intangible material benefits. I hold the contrary opinion. I

A little compassion goes a long way [ARTICLE]

Page 20

A little compassion goes a long way Elaine Koh says that we can do something about looking after the rights of animals Elaine Koh The writer is a BT journalist ANIMAL rights may seem a quixotic notion at best, but it !s a concept that has long been entrenched in

Standing first among equals [ARTICLE + ILLUSTRATION]

Page 20

Standing first among equals On Wednesday, both Singapore and Britain saw changes in their political leadership. Suzanne Soh reflects on the contrast and similarities in the handover of power Suzanne Soh The writer is a B1 journalist GOH Chok Tong and John Major kept their dates with destiny on Wednesday

Watching history being made before our very eyes [ARTICLE]

Page 20

Watching history being made before our very eyes Anna Teo on her reactions to the swearing in of Mr Goh Chok Tong as prime minister Anna Teo The writer is a BT journalist IT was not a previewer's pick, though a select group of advertisers, banking on the wide viewership

EPICURE

Memories of Min Jiang [ARTICLE + ILLUSTRATION]

Page 22

Memories of Min Jiang Quek Swee Peng lunches at one of Goodwood Park's two Chinese restaurants Quek Swee Peng IT COULD sometimes prove difficult for restaurants in hotels to build up a separate identity. Even more difficult it would be if the restaurants are similar in some respects though remaining

LIFESTYLE

Is this your cup of tea? [ARTICLE + ILLUSTRATION]

Page 23

Is this your cup of tea? By Laura Cunningham NYT BEFORE I discovered high tea, I knew only low tea, the sad, sodden tea bag oozing its last in the base of a plain crockery cup. Or worse the ignominy of lowest tea, takeout tea from the deli, a tepid

Air Canada — a great way to wine [ARTICLE + ILLUSTRATION]

Page 23

Air Canada a great way to wine WINE By N K Yong Dateline: Nov 3,1990, on board Air Canada AC 889, en route to lujndon. IT IS ten in the morning according to my bodytime, we have just left Bombay where it was lam, and there are still a good

Rectifying the count [ARTICLE + ILLUSTRATION]

Page 23

Rectifying the count BRIDGE By Sybil Holloway COUNTING the hand gives the declarer or the defenders a chance to gain information on the distribution of the hidden hands and to make the right decision in determining how to play a particular suit. When today's deal turned up at a weekly

SPORTS

Learning how to make the muscles remember [ARTICLE + ILLUSTRATION]

Page 24

Learning how to make the muscles remember Paul Ramani reports on the golf school which will teach everything about golf Paul Ramani THE Ryder School, Singapore's first golf school and believed to be the first in South-east Asia will open its doors on Jan I next year. The school, to

Performance drugs used by E Germans [ARTICLE]

Page 24

Performance drugs used by E Germans AP SIX-TIME Olympic swimming champion Kristin Otto, long jumper Heike Drechsler and several other top East German athletes have been named by a magazine as long-term users of perfor-mance-enhancing drugs. Slern magazine said in Wednesday's edition it had obtained a confidential East German document

PURSUITS

There's life after death ... isn't there? [ARTICLE + ILLUSTRATION]

Page 25

There's life after death isn't there? An incredulous Jaime Lye finds out what makes things go bump in the night in the movie Ghost Jaime Lye SOME ghosts like to sneak up on you, pat you on the back and say: "Boo". Others like to throw things at you if

Keeping a respectful distance [ARTICLE + ILLUSTRATION]

Page 25

Keeping a respectful distance CD Review By RINGO LIEW GEORGE BENSON: Big Boss Band featuring the Count Basie Orchestra PEOPLE who have survived blind dates can understand the problem facing George Benson and the Count Basic Orchestra on this album. Each comes with impressive credentials. Benson made a name for

SBC 12 goes stereo [ARTICLE + ILLUSTRATION]

Page 25

SBC 12 goes stereo Samuel Ee keeps his ear to the ground to find out what rare offerings the TV channel has in store for viewers Samuel Ee This Christmas, forget about watches or Walkmans. Ask for a stereo TV. And it doesn't matter if you already have one, bccausc

JOBS

Fancy titles make sense — sometimes [ARTICLE + ILLUSTRATION]

Page 26

Fancy titles make sense sometimes If clothes make a man, do job designations describe his position in an organisation? S N Vasuki finds out. S N Vasuki WHAT happens when a window cleaner describes himself as a "Transparent Wall Maintenance Engineer" or a waiter as a "customer service manager"? It

EXECUTIVE MOVES [ARTICLE + ILLUSTRATION]

Page 26

EXECUTIVE MOVES Robert J Neidermire succeeds John W Gander as Northwest Airlines' general manager for Singapore and South-east Asia. Mr Neidermire joined Northwest in 1981, working in the Pension Investment Section at the airline's Minneapolis/St Paul World Headquarters. He subsequently held other important posts in the corporate finance department. Diane

Cushioning the shock of retrenchment [ARTICLE]

Page 26

Cushioning the shock of retrenchment Companies are moving away from the era of a lump sum payment plus a handshake and are talcing a more supportive approach towards employees who are no longer needed or wanted, says Elaine Ng Elaine Ng The writer is senior consultant with compensation and employee

AIRCRAFT ARRIVALS AND DEPARTURES [ARTICLE]

Page 27

AIRCRAFT ARRIVALS AND DEPARTURES City Flight ETA Flight ETD Adelaide SQ228 1910 QF82 2115 QF81 2010 Amsterdam SQ23 1345 KL838 2115 KL837 1505 SQ24 2200 Athens 0A471 0015 Auckland NZ21 1720 NZ22 1830 SQ338 2030 BA12 2200 Balikpapan GA525 1450 Bandar Seri SQ182 0915 Begawan SQ181 1410 Bangkok QF62 1135

THE TRAVEL PAGE

MONEY CHANGER RATES [ARTICLE]

Page 27

MONEY CHANGER RATES As at 3pm yesterday: I>ocal dollars to one unit of foreign currency C urrencies Bid Offer Australian dollar 1.3230 1.3430 Canadian dollar 1.4650 1.4850 NZ dollar XXXXX 1.0700 Sterling pound 3.3200 3.3400 US dollar 1.7190 1.7290 Ixical dollars lo 100 units of foreign currency Austrian schilling I6.0S

A city with a nostalgic past [ARTICLE + ILLUSTRATION]

Page 27

A city with a nostalgic past LETTER FROM BUDAPEST THE appearance of Budapest, a city of two million which is home to one Hungarian in five, has been determined by the architecture of a relatively short period; a period of barely 50 years which preceded World War I. A feverish

WORLD TRADE EXHIBITIONS [ARTICLE]

Page 27

WORLD TRADE EXHIBITIONS Duration Title Venue Organiser Dcc 4-7 Commtd Asia '90 Hongkong Business Convention Industrial Trade XXXXX00 Exhibition Fairs Pte Ltd Centre Dcc 5-7 International Exhibition of Medical Sciences Stockholm Stock holmv massan AB (46)8/XXXXX00 Duration Title Venue Organiser T« Jan 11-14 International NordSalon 1991 Household Villepinte International Appliances

PERSONAL FINANCE & INVESTMENT 1

Sterling manages to ride out political storm [ARTICLE + ILLUSTRATION]

Page 28

Sterling manages to ride out political storm The bad news is, Britain is in recession. The good news, says Alan Budd, is that interest rates are unlikely to rise further. That is not necessarily good news for the pound Alan Budd, Professor Alan Budd is economic adviser to Barclays Bank

Gulf crisis sending Philippine markets into speculative frenzy [ARTICLE]

Page 28

Gulf crisis sending Philippine markets into speculative frenzy Reuter SPECULATION is likely to pervade Philippine stock markets into next year with traders focusing on oil or US dollarearning firms seen spared by economic gloom, share analysts said. Analysts saw a long but relatively gradual decline in Philippine stocks in 1991,

Cautious gold sales by Soviets likely to continue [ARTICLE + ILLUSTRATION]

Page 28

Cautious gold sales by Soviets likely to continue Large-scale dumping to raise cash ruled out Reuter THE Soviet Union, conspicuous by its absence from the gold market in the second half of 1990, is likely to continue its strategy of gold swaps and cautious sales into 1991, London-based bullion analysts

Guess who is laughing all the way to the bank [ARTICLE + ILLUSTRATION]

Page 29

Guess who is laughing all the way to the bank Tis the season to be merry, 'tis the season to spend. Diana Oon sniffs out the bargains Diana Oon IT'S THE time of the year once again for bonuses and Christmas and New Year spending. Cash registers are ringing at

Warrants: premiums and gearing [ARTICLE]

Page 29

Warrants: premiums and gearing Prices (as at 29.11.90) Conversion terms Premium/ (discount) Expiry Amount Wrts Share Lnstk Optional" using Gearing 4 Company issued (m units) Conv ratio Exec price Lnstk nom value Cash Cash 1 Lnslk 1 Date MfrS left S CACWt 37.5 0.825 EfFfjl 1.00 3.09 25 3.81 26.4

A mild rally appears to be on the cards [ARTICLE + ILLUSTRATION]

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A mild rally appears to be on the cards CHAR^ By Najeeb Jarhom I Najeeb Jarhont is the research manager of Fraser and Roach IN A repeat of its behaviour three weeks ago, the 14-day Relative Strength Indicator of the Straits Times Industrials Index is testing its uptrend line AB.

US stock market debacle sparks buying spree in stock funds [ARTICLE]

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US stock market debacle sparks buying spree in stock funds NYT THIS YEAR is shaping up as the worst one in a decade for the US stock market, but mutual fund investors have responded by buying shares in stock funds at a record pace. Mutual fund sponsors said on Thursday

TIME OFF

THEATRE [ARTICLE]

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THEATRE SSO Concert Conducted by Choo Hoey, with soloist Elena Mouzalas. The programme: Brahms' Academic Overture, Theodorakis' Piano Concerto and Rachmaninov's Symphony No 3 in A minor op 44. Victoria Concert Hall. Dec 7 and Dec 8. 8.15pm. Boxes Performed by the Necessary Stage, the play centres around Joan, a

EXHIBITIONS [ARTICLE + ILLUSTRATION]

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EXHIBITIONS Compiled by K Jayanti The Impossible Dream Dali and Beyond This collection of contemporary European works consists of 35 paintings, prints and photographs by 15 artists of diverse reputations. Includes lithographs and silkscrecn prints by Salvador Dali and Marc Chagall. Allan Art Galleries, 1 Scott Rd, #03-31 and #03-32

CINEMA [ARTICLE + ILLUSTRATION]

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CINEMA Air America. They thought this movie with Mel Gibson and Robert Downey Jr would bring in the crowds by virtue of the stars' names, but apparently, some people do prefer movies with plots, which is why this flick about one pilot and his young protege crashlanded where the critics

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Page 19 Advertisements Column 1 [ADVERTISEMENT]

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Page 20 Miscellaneous

Page 20 Miscellaneous Column 1 [MISCELLANEOUS]

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DOONESBURY by garry trudeau i punno, doc, -me group V rriooKSUKE cxx&aseeMTOHOPMucH. V -J/, JE. A A nit OF I'M STILL PRETTY MMN PF K «H ~A\ PFAP PUPPI&. PRP&FUMOSTOFTHFIIArt- HJhAT 15 IT* g™™" QMUJCKK.OVZRMMeN, I SIP, TURN XXXFAX \M

Page 21 Advertisements

Page 21 Advertisements Column 1 [ADVERTISEMENT]

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TV VV nv IIU —BTW —^^I ißra U '^Siflß^Hj Vln I Hli 1 I F fl£3 ft 1 Bftll fW ■v- w ft "^-^P ■p.' il U <r jfjc w^H^JTimlfiSS^^V |VPPPI9RWQP^^BIVBRP9|^BP|^HHE^HHK B fl BMI IF YOU FIND the bottle impressive, wait until you n TASTE THE SCOTCH. J II I

Page 22 Advertisements

Page 22 Advertisements Column 1 [ADVERTISEMENT]

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Page 22 Advertisements Column 2 [ADVERTISEMENT]

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Page 22 Advertisements Column 3 [ADVERTISEMENT]

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Seafood Theatre Restaurant Camonest Thai Cuiane W 1 MAKE NO BONES ABOUT IT. Oil S£l MINUS AKVALU£-fo*^oN£Y, A rare treat indeed! Exotic Cantonese-THai cuisine served at the most affordable prices. In a variety of set menus for 2—lo persons, priced from $50++. Call 298 0011 ext 8605 for reservations. Plaza

Page 22 Advertisements Column 4 [ADVERTISEMENT]

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/T THE PINE COURT Amidst Imperial splendour, our chefs r J£kH stage their highly-acclaimed performance i„r J&wl I lc^erKlary cuisine to the satis- x .i fjmT XA taction of demanding diners.To guarantee W/fl| your place amongst the discerning, make I *j your reservations early Ci||t] ->4y.* TJwM Lunch :12pm to

Page 23 Advertisements

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AND ENTERTAIN Brunch Is A Family Affair Every Sunday. §pkitnsnii SUNDAY BRUNCH: 11AM TO 2.30PM. gw jjWL iißf adults Wm $M.OO jH R CHILDREN 3k $i9.oc♦ Every Sunday, Hubertus Grill becomes the venue for a great Sunday family outing. A scrumptious buffet spread is laid out for both grown-ups and

Page 23 Advertisements Column 2 [ADVERTISEMENT]

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Refrigerated Wine Cellar I Your perfect answer to wine storage in the tropics Model 999 Capacity up to 144 bottles Model 400 Capacity up to 60 bottles Available ex-stock from the Sole Agent: BONIABLE BONTABLE AGENCIES (S) PTE LTD #03-05 Sin Cheong Building 47 Jalan Pemimpin Singapore 2057 Tel: XXXXX92

Page 24 Advertisements

Page 24 Advertisements Column 1 [ADVERTISEMENT]

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-"Nearly, rrs got to be Gordon's x tm&a? 1 JPF Mr aHMHlfll l| tt MMMiH«^ r» i»»nr»i«; :i f V i ;i»m- ■HjMWimiw»MimflU uw»nttm 9. —'lutiitf mm ISftfW' 1 ytn tutmiit 9 |fwjll j. |bb kb^®^** p distilled in lomdom. V- ~^^JBb3 ,'>/.'V' r»i*T«o!■ u(uud miwu wsifT«Ai>* C >—- A

Page 25 Advertisements

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JMMp|PPPB|BPBP,PIL' 11ll i <Jl !HP I S^~ ummm« Sole Distributor Triumph International (S) Pte Ltd. 37 Jalan Pemimpin. #02-04 Singapore 2057 Tel XXXXX11 HOM Homewear available exclusively at Daimaru Fashion Tailor Galenes Lafayette Isetan Wisma Alna Metro Far East Metro Grand Metro Paragon OG Peoplefs Park Shangtze Sogo Tangs Tham

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Page 26 Advertisements Column 1 [ADVERTISEMENT]

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DHL IN THE NEWS Advertisement DHL SPANS THE WORLD DHL was started in pany with a global network network, DHL is helping the United States in 1969 of over 1,344 offices serv- companies to improve their by three men Dalsey, ing 55,000 communities in productivity and distribuHillblom and Lind who

Page 26 Advertisements Column 2 [ADVERTISEMENT]

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Page 27 Advertisements

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r"aP i jps JfJFJiHM Z_^ Make a date with Abbas Saad today. Columnist Irene Ng (above) did the other day. And reveals the man behind the suave smile. In a special series on some of the most eligible men in Singapore today. Every Saturday and Tuesday.

Page 27 Miscellaneous

Page 27 Miscellaneous Column 1 [MISCELLANEOUS]

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1 Affirm it is gold for teacher L|J— 9 A rebel leader to be a match for the newcomer (7) 10 Meal Ron prepared for a so--11 Festival not celebrated by |~|■H~~ < H low churches? (4.3) j 12 I'm seated awkwardly accept- |lH|"! J ing shilling for a small

Page 27 Miscellaneous Column 2 [MISCELLANEOUS]

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Singapore Forecast Maximum temperature 32.5* C Assoc humidity 67%' Minimum temperature 25.6"C Assoc humidity 88% Hours of sunshine 5.55 Rainfall in mm Trace Rainfall this month 177.8 Rainy days this month 16 World report Asia-Pacific Hi/Lo* Cond. Auckland 21/15 Showers Bangkok 33/24 Fair Beijing 19/13 Windy Brunei 30/24 Showers Hongkong

Page 27 Miscellaneous Column 3 [MISCELLANEOUS]

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fclil4: U)MPNT* CAN I FRieND JON£S HGRCS ONe OF MiS A secußiiv T w*e- uooi> r I OEVCNIHS STtNOUOCO HO ItM "1 100

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h Ss 4 Ivjw^l LET US HELP TURN YOUR IDEAS UNTO ASSETS n a business, It takes Ideas to move you For years, Hong leong and Singapore anead. At Hong Leong and Singapore Finance nave worked with thousands of Finance, we provide the expertise and put businesses of every size

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Page 29 Advertisements Column 1 [ADVERTISEMENT]

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Whatever the 21st century holds, have the assurance of financial security and peace of mind. m At Great Eastern Life, we 're committed to taking M care of you for life. m Great Eastern Life S! We take care of you for life Th 2}^

Page 30 Miscellaneous

Page 30 Miscellaneous Column 1 [MISCELLANEOUS]

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TODAY'S TV mmhhbi m mm HH| SfIHHIHHHHHBHI 5.30 Umae Qeaerai AsaewMy V N«t t.30 Yeot Mahwwe. 10.00 NewspaperCSepiafs. Red, Hot and Bluo, 10.35pm, JUrtin-in- f 10.05 MhjfUtiL A Band the 11.00 Oengartah Say ant's' —to mark World Aids SBC I 2's stereo launch to- }J" TVfihicattoa. Day today. Inspired by

Page 30 Miscellaneous Column 2 [MISCELLANEOUS]

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movies on tv Ok! What a Lovaty War, Won, (3000), Santa Fe Trail 10.30pm, SBC 12 (4000), Follow the Fleet Richard A.lenborough makes < s( )< V" d his directorial debut in this N r f 1969 satire of war. What what happened tog l l happened during World eenie-meenie-myn,e-m0...