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BUSINESS TIMES, 23 August 1994

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Article also available on Microfilm Reel NL19570


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BUSINESS TIMES MITA(P) 010/12/93 Tuesday August 23 1994 WE KHOW ASIA 75 c

2am LATEST

Dow down 2.91 points [ARTICLE]

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Dow down 2.91 points Reuter NEW YORK Wall Street stocks fell at midsession yesterday, stumbling over a jump in long-term interest rates. At lpm EDT in the broader market, declining issues led advances 11-8 on volume of 129 million shares on the NYSE. At 2pm EDT, the Dow Jones Industrial

LDDS buys network operations of Wiltel [ARTICLE]

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LDDS buys network operations of Wiltel AP NEW YORK LDDS Communications Inc, the fourthlargest long distance phone company in the US, will buy the network operations of rival Wiltel Inc for US$2.5 billion (553.7 billion). AP

MARKET SUMMARY [ARTICLE]

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MARKET SUMMARY Stock market indices Monday Change STI! 2,320.94 -26.23 KLSEComp 1,150.20 +9.50 Nikkei 20,394.58 -118.12 Hang Seng 9,457.33 +52.89 SET Index 1,489.56 +0.94 Jakarta Comp 492.42 +0.21 CLSA China B ....1,129.91 -6.33 Aust All Ord 2,063.3 +2.3 FTSE 100 3,171.3 -20.1 Monday Previous 2pm dose Dow Jones 3752.20 3,755.11

Land sales will calm market, not dampen it: analysts [ARTICLE]

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Land sales will calm market, not dampen it: analysts By Lilian Ang SINGAPORE Developers and property analysts said yesterday the government's plan to step up its land sales programme next year to provide for 6,000 new homes, compared with this year's 4,000 units, will have a calming rather than dampening

OCBC, Keppel rate hike boosts S$ [ARTICLE]

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OCBC, Keppel rate hike boosts S$ By Shiv Taneja SINGAPORE The Singapore dollar came close to touching the 551.50 psychological resistance barrier against the US dollar yesterday as another two local banks raised their prime rates. With the greenback generally weak and the Sing dollar fuelled by the rise in

KL takes the wind out of S'pore stock market [ARTICLE]

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KL takes the wind out of S'pore stock market SINGAPORE Stock prices here weakened considerably yesterday, as investors switched their attention to the Malaysian market. Dealers said although Overseas Union Bank's rate hike yesterday should have already been factored into prices, investors were still spooked and used it as an

Slump in bonds hits US dollar [ARTICLE]

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Slump in bonds hits US dollar Reuter NEW YORK The dollar was mixed in subdued US midday trade yesterday, with slumping bond prices limiting investor demand for the ailing currency, dealers said. "We're in a stage where we've had a sellofT in the bond market and it's kind of spilling

Sembawang in bid for RDC as it buys Temasek's stake [ARTICLE]

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Sembawang in bid for RDC as it buys Temasek's stake Deal for 30pc of equity struck at $6.25 a share By Lee Han Shih SINGAPORE Sembawang Corporation is buying the government's entire 30 per cent stake in listed Resources Development Corporation (RDC) for $6.25 a share, triggering a general offer.

TAS to let broadcasters set up uplink, downlink facilities [ARTICLE]

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TAS to let broadcasters set up uplink, downlink facilities By Genevieve Cua SINGAPORE Operators will be allowed to establish satellite uplink or downlink facilities here in a move to position Singapore as a regional broadcasting hub, the Telecommunication Authority announced yesterday. The decision is expected to attract a number of

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"SALPIN FRESH %-EXTRA STRONG TREFRESHING Sola Agent: Shriro (Singapore) Pie. Ltd. CONTENTS (Umi Companies S'pore News 2 S pore-M sa 19.20.21 Regional News 3.4,5 Financial 23.24 World News 6.9 Futures Markets Analysis 17 Oob/KISE. SES 28-30 EtMorial 16 Regional 25 Sports 13 World 26 IV/'Utetyte 15 Currencies 23 Property 10.12

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Property: p g 10 A view to a buy S'pore businesses poised to service other investors in Myanmar, Pg 18 Asean is major export market for Singapore computer firms, Pg 2 DBS Land earnings up 20pc; Causeway cuts loss, Pg 19

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Hock Lock Siew: pg 19 Heard the latest on Transmarco? Regional share market reports, Pg 25-30 The dollar guessing game, Pg 23

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Bottom Linef Pjj ih \%jussie baianeing act FRESH BREATH IN A FLASH STRONG. REFRESHING. V I I ™W I I I ™J I I mm >■<*/'■ 7 KhL "»r "i Graphics f #PriC8Ta9S 9120 9 Kl Sequential Numbers 1 3? W Markers o e Usage H For; Offices Industrial Signage

SINGAPORE NEWS

EYE on the ECONOMY

Buoyant performance expected [ARTICLE + ILLUSTRATION]

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Buoyant performance expected By Rahita Elias AIR CARGO throughput is set to grow strongly in the current half-year, after notching up a gain of more than 20 per cent in the first half. The sector traditionally enjoys a seasonal boom in the fourth quarter as manufacturers and retailers rush to

Asean the major export market for Singapore computer firms [ARTICLE]

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Asean the major export market for Singapore computer firms Only 20pc of companies in survey target North and East Asia By David Mok ASEAN is the main export market of the majority of local computer hardware and software firms, with North and East Asia coming in a distant second. In

Panel set up to probe Sembeth blast [ARTICLE + ILLUSTRATION]

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Panel set up to probe Sembeth blast LABOUR MINISTER Lee Boon Yang has appointed a committee of inquiry to look into a fatal fire and explosion at Sembawang Bethlehem shipyard on National Day. District Judge Adrian Soon Kim Kwee has been appointed chairman of the committee. Assisting him will be

New pact bans pay cut for demoted insurance staff [ARTICLE]

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New pact bans pay cut for demoted insurance staff By Soh Tiang Keng A WORKER who is downgraded will get no pay cut under a new collective agreement for the insurance industry signed yesterday. The three-year pact, starting in January this year, was signed between representatives of the insurance group

Cable TV to carry Asia Business News soon [ARTICLE]

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Cable TV to carry Asia Business News soon CABLE television subscribers in Singapore will be able to get Asia Business News from Sep 1. Singapore Cable Vision will start broadcasting ABN, Asia's first business television news service, for one hour every weekday from 7 to 8 pm to more than

Tech Trade sells stake in holding company to repay creditors [ARTICLE]

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Tech Trade sells stake in holding company to repay creditors By Juliette Walker TECH TRADE (S) Pte Ltd has done the impossible. It is believed to be the first local company to come out of judicial management with enough funds to pay its creditors in full, and some left over

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=)@?*<">$,+=:*@+>":]=]$@%_/)>(\ A Study On Plantation and Marketing of Tne study provides a comprehensive picture of tie oil palm business, including the domestic and export markets. The 550poge study also assesses the prospect of investment in the oil palm plantation and palm oil processing industry, seen from the marketing, technical and

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Feel the Hyatt Regency lohor Bahru. One unique hotel Discover nine fabulous packages just waiting to be unwrapped at the new Hyatt Regency lohor Bahru. Two There are two meeting packages to optimise your time away from the office. d« m A golfing break that's well above par. istinct And

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Difficulty in getting a copy of Her World, Go, Singapore Business, Home Decor, Young Parents? Call 1800-749-2577 for locations of nearest newstands.

SOUTH-EAST ASIA

Speculation on M'sian polls mounts as coalition turns 20 [ARTICLE + ILLUSTRATION]

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Speculation on M'sian polls mounts as coalition turns 20 AFP KUALA LUMPUR Malaysia's ruling National Front coalition is set to celebrate its 20th year in power amid speculation here that Prime Minister Mahathir Mohamad would call for snap polls. Some 40,000 supporters of 15 political parties that make up the

Mahathir accuses Al Arqam leaders of sex slavery [ARTICLE]

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Mahathir accuses Al Arqam leaders of sex slavery AP KUALA LUMPUR Prime Minister Mahathir Mohamad yesterday accused leaders of a banned Islamic sect of using their women members as sex slaves. The attack on the Al Arqam sect is the first time Malaysia's leader has accused it of sexual deviance,

NOTEBOOK

Indon court overrules decision on Amco [ARTICLE]

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Indon court overrules decision on Amco AFP JAKARTA The Indonesian Supreme Court has overruled its own 1988 decision and recognised that Australia-based Amco 1 Wrangler Limited is the sole owner of the Amco trademark for jeanwear. the company said yesterday. Lawyer Abdullah Lutfi acting for Amco Hartman Property Pty Ltd,

Vietnam to get 7b-yen loan [ARTICLE]

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Vietnam to get 7b-yen loan Reuter HANOI Japan will give Vietnam another seven billion yen in grant aid under five agreements to be signed during Prime Minister Tomiichi Murayama's visit this week, a Japanese diplomatic source said yesterday. If asked. Mr Murayama will also tell Vietnam that Japan is prepared

Money can't buy happiness in Japan [ARTICLE]

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Money can't buy happiness in Japan AFP HONGKONG Although life is treating the majority of people in East and South-east Asia fairly well, money is not the root of all happiness, particularly in Japan, a survey showed yesterday. Most countries recorded high levels of satisfaction, said Survey Research Group in

10 students who insulted Suharto freed [ARTICLE]

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10 students who insulted Suharto freed Reuter JAKARTA Indonesia has freed 10 students who were jailed for eight months for insulting President Suharto, their lawyer said yesterday. "But their case is not finished yet because we are still waiting on our appeal to the Supreme Court," he said. The 10

Vocal politician seeks top Indon party post [ARTICLE]

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Vocal politician seeks top Indon party post Reuter JAKARTA An outspoken politician has entered the race to lead one of Indonesia's two permitted opposition parties, insisting the electoral system should be overhauled and new rules established for electing Indonesia's president. Sri Bintang Pamungkas, a member of the Muslim-orient-ed United Development

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FINANCIAL DERIVATIVES CONTROLS PROCEDURES Sep 9am to spm The use is presently shrouded controversy. Although derivatives are a growing strategic focus for banks and end-users, they carry a number of risks. Are they properly recorded and valued to give a true and fair picture of the institution? How do we

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Business Expansion Overseas YOUR VISION > f"£ S, .7 1 and i 1 x t "*l'.,'- 1?* .ir |fc" OUR RESOURCES International factors leasing II KS To successfully expand a business overseas, a company needs more than vision. There has to be full resources to supply the needs of growth.

CHINA/HONGKONG/TAIWAN

Beijing sets rules to control local investment in banks [ARTICLE]

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Beijing sets rules to control local investment in banks Bloomberg Business News BEIJING The Chinese government has announced new regulations to control investment by Chinese companies in the country's financial institutions, the official China Securities newspaper reported yesterday. The paper said the provisional rules prohibit investment in domestic banks and

Zhu clamps down on fertiliser sector to curb price surge [ARTICLE]

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Zhu clamps down on fertiliser sector to curb price surge Bloomberg Business News BEIJING China's chief economic planner. Zhu Rongji, has clamped down on nonstate sales of chemical fertilisers to curb rising prices of this key agricultural material. The People's Daily yesterday said Vice-Premier Zhu told a meeting last week

Taipei to privatise 13 more state-run firms [ARTICLE]

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Taipei to privatise 13 more state-run firms AFP TAIPEI Taiwan will privatise 13 more state-run enterprises by 1996 as part of its privatisation policy and liberalisation effort. Economic officials yesterday said the second-tier Taiwan provincial government (TPG) had mapped out a comprehensive plan to transfer 13 of 34 TPG-owned enterprises

China set to start building world's biggest dam [ARTICLE]

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China set to start building world's biggest dam AFP HONGKONG China is to officially launch soon the construction of the world's biggest reservoir project, the Three Gorges dam, which is part of the country's 10-year national economic and social development programme, a report said yesterday. The ofTice of Hubei-based In

Street justice [ARTICLE + ILLUSTRATION]

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Street justice AFP GUANGZHOU A plainclothesman shoving a handcuffed man suspected of shoplifting over the weekend as his colleague and passers-by looked on. The policeman proceeded to kick the bare bodied suspect as he crouched to ward off blows. AFP

Taiwan may impose tax on China goods [ARTICLE]

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Taiwan may impose tax on China goods AFP TAIPEI Taiwan may tax Chinese products to reduce their impact on the local market. The China Times Express yesterday said the finance ministry, in a recent report to Cabinet, suggested a duty system be erected to ensure Taiwan's products were not hurt

CHINA WATCH

Taiwan splinter group ropes in 'Rambo' [ARTICLE]

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Taiwan splinter group ropes in 'Rambo' AFP TAIPEI Taiwan's New Party (NP), a small opposition group, has nominated the chairman of another party to run in the Dec 3 gubernatorial elections. Ju Gau-jeng, dubbed Taiwan's Rambo after becoming the first legislator to start a melee in parliament to disrupt a

US probes alleged HK magazine subsidies [ARTICLE]

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US probes alleged HK magazine subsidies Bloomberg Business News HONGKONG The US Trade Representative (USTR) has asked the Hongkong government detailed questions about the financing of trade magazines published by the quasi-government body, the Hongkong Trade Development Council (TDC), the Asian Wall Street Journal reported. This follows complaints to the

Beijing to debate fate of HK legislature [ARTICLE]

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Beijing to debate fate of HK legislature Reuter BEIJING China, which vows to disolve Hongkong's legislature and scrap democratic reforms when it takes over in 1997, will have its parliament debate the issue this week, a parliament spokesman said yesterday. The standing committee of the National People's Congress will start

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REST OF ASIA

Capital investment seen bottoming out [ARTICLE]

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Capital investment seen bottoming out Bloomberg Business News TOKYO The Bank of Japan expects that Japan's capital investment will bottom out in the second half of the current fiscal year to March 1995, the Nikkei newspaper reported, based on analysis of central bank statistics. Corporate investments are becoming worthwhile, because

Tokyo eyes fishing pact with Moscow [ARTICLE]

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Tokyo eyes fishing pact with Moscow Knight-Ridder TOKYO Japan is considering a private sector agreement with Russia for Japanese fishing in waters off four disputed northern Pacific islands, without jeopardising Tokyo's territorial claims, the Kyodo news service quoted a leading newspaper as reporting yesterday. The move comes amid mounting calls

Australia scraps shipping line sale [ARTICLE]

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Australia scraps shipping line sale Knight-Ridder CANBERRA The Australian government said yesterday it has dropped its plan to sell the shipping group Australian National Line, saying the proposal was impractical. Instead, the government will appoint a new four-member board with a charter to reconstruct the company and minimise losses to

Murayama to build new Japan-Asean partnership [ARTICLE]

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Murayama to build new Japan-Asean partnership From Koichi Ishiyama in TOKYO JAPANESE Prime Minister Tomiichi Murayama, who leaves Tokyo today for an eight-day visit to three Asean countries and Vietnam, is expected to try to build "a new Japan-Asean partnership in a new era for South-east Asia", a Foreign Ministry

Drought threatens major Japanese industrial complex [ARTICLE]

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Drought threatens major Japanese industrial complex Reuter YOKKAICHI, Japan A major industrial complex in central Japan may soon sputter to a halt because of a water shortage that has not eased despite heavy weekend rain across Japan. The Yokkaichi area, in Mie prefecture, is home to a range of heavy

Free food [ARTICLE + ILLUSTRATION]

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Free food Reuter KARACHI People reaching out for free distribution of food in this Pakistani southern port city on Sunday. Food is distributed by different Sunni Muslim organisations to mark the birthday of Prophet Muhammad Reuter

Aussie coal miners enlist rugby stars in price campaign [ARTICLE]

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Aussie coal miners enlist rugby stars in price campaign Reuter SYDNEY Australia's coal miners have drafted international rugby league stars Mai Meninga and Paul Sironen into the front-row of a campaign to demand higher prices for coal exports to Japan. Coal miners staged a series of national strikes earlier this

US, Japan to agree on defence technology study [ARTICLE]

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US, Japan to agree on defence technology study AFP TOKYO Japan and the United States are expected to agree on a joint study to develop two new defence technologies. The Nihon Keizai newspaper yesterday said the agreement would involve joint development of a new welding method to enable submarines to

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Editorial: Japan's dark shadows, Pg 16 Analysis: Red sun over Vietnam, Pg 17 You're looking at the future. The SIA Cargo 747-400 Mega Ark the largest, most advanced commercial capabilities you can rely on. Today and tomorrow. Add to that the superior service, commitment cargo aircraft in the world. Moving

THE WORLD

WORLD WATCH

German consumer prices seen up 0.1 pc [ARTICLE]

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German consumer prices seen up 0.1 pc Knight-Ridder FRANKFURT Western German August consumer prices are seen rising an average 0.1 per cent from July and by 3 per cent from August 1993, according to a survey of economists. In July, prices rose 0.1 per cent from June and were up

Syria spurns Israeli pullout offer [ARTICLE]

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Syria spurns Israeli pullout offer AFP BEIRUT Syria rebuffed an Israeli offer to withdraw from Lebanon within nine months, insisting there had to be a global peace deal, Israeli Prime Minister Yitzhak Rabin said in an interview published yesterday. Mr Rabin told the London-based Arab daily Al-Hayat that the offer

PLO denies Israeli recognition bid [ARTICLE]

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PLO denies Israeli recognition bid Reuter CAIRO Palestinian officials denied yesterday that Yasser Arafat's Fatah group was seeking Israeli recognition of a Palestinian state before the PLO purges its charter of clauses denying the Jewish state's right to exist. "There has been no such decision," chief PLO negotiator Nabil Shaath

Defiant Dnestr launches own currency [ARTICLE]

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Defiant Dnestr launches own currency Reuter CHISINAU Moldova's rebel Dnestr region launched its own currency yesterday as a symbol of independence and the Moldovan central bank promptly declined to recognise it. Under a reform due to last until Oct 1. the Soviet-era roubles with a special sticker currently used in

Swiss may seek army help in drug war [ARTICLE]

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Swiss may seek army help in drug war Reuter ZURICH Switzerland said yesterday it may call in troops to help its battle against narcotics dealers in Zurich's increasingly violent open drugs market. "Representatives of the federal council and Zurich authorities will today consider how the army could be involved in

Dutch consumers upbeat after 4 years [ARTICLE]

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Dutch consumers upbeat after 4 years Bloomberg Business News AMSTERDAM The number of Dutch consumers optimistic about the economy exceeded pessimists for the first time in four years in August, the Central Bureau of Statistics said. The government agency said optimists exceeded pessimists by 3 percentage points this month, the

Italian inflation expected to hit 3.7 pc [ARTICLE]

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Italian inflation expected to hit 3.7 pc AFP ROME Italy's annual inflation is expected to rise to 3.7 per cent this month, with a monthly price rise of 0.2 per cent, according to figures from the nine major Italian towns, published yesterday. Inflation in the. year to July stood at

UK Labour Party pounces on millionaire's share dealings [ARTICLE]

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UK Labour Party pounces on millionaire's share dealings Allegations of insider trading against Jeffrey Archer flying thick and fast From Neville Stack in LONDON DISCLOSURES in the Financial limes about share dealings by Lord (Jeffrey) Archer, the multi-millionaire author, were seized on yesterday by the opposition Labour Party. They are

Perez de Cuellar to run for Peruvian presidency [ARTICLE + ILLUSTRATION]

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Perez de Cuellar to run for Peruvian presidency Reuter LIMA, Peru Former United Nations Secretary General Javier Perez de Cue liar and his wife at a public meeting on Sunday in Villa El Salvador, a sprawling shanty town south of Lima. Mr Perez de Cuellar virtually declared he would be

Data shows British economic recovery gathering pace [ARTICLE]

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Data shows British economic recovery gathering pace Reuter Bloomberg Business News LONDON Britain's economic recovery is gathering pace according to figures published yesterday, and economists say 1994 growth looks like outstripping the 2.75 per cent forecast by the government in June. Revised data from the Central Statistical Office (CSO) showed

US may consider Cuba blockade [ARTICLE]

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US may consider Cuba blockade Los Angeles Times WASHINGTON White House Chief of Start" Leon Panetta said on Sunday that the Clinton administration would consider imposing a blockade on Cuba if measures adopted in the past few days fail to stop the exodus of refugees from the island. "That's obviously

US economy will grow at 4pc through '95: Conference Board [ARTICLE]

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US economy will grow at 4pc through '95: Conference Board Reuter NEW YORK The US economy will grow at its current 4 per cent rate through 1995, according to' The Conference Board, a global research and business membership organisation. "The effect of higher interest rates will be to stabilise the

Pentagon warns of huge cuts in new weapons development [ARTICLE]

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Pentagon warns of huge cuts in new weapons development The Washington Post WASHINGTON The Pentagon's top leadership has ordered the military services to plan for the possible cancellation or delay of nearly every large new weapons system in the planning or development stages. In a memorandum last Thursday, Deputy Defence

UK Sun reverses price-war trend by raising cover price [ARTICLE]

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UK Sun reverses price-war trend by raising cover price Bloomberg Business News LONDON The newspaper that kicked off Britain's pricecutting wars, media tycoon Rupert Murdoch's the Sun, yesterday raised its cover price to 22 pence from 20 pence. The Sun slashed its price to 20 pence from 25 pence nearly

UN tackles hot topic of global warming in wake of Rio summit [ARTICLE]

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UN tackles hot topic of global warming in wake of Rio summit FT NEW YORK Turning the ambitious aims of the 1992 Rio Earth Summit into reality is the task facing officials meeting this week at the United Nations in Geneva. Representatives from more than 100 countries will wrestle with

Italian PM bogged down in war of words with media [ARTICLE + ILLUSTRATION]

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Italian PM bogged down in war of words with media Reuter ROME Prime Minister Silvio Berlusconi of Italy, who prides himself on his reputation as a "Great Communicator", is bogged down in a war of words with the media. Tycoon Berlusconi owner of three national TV channels and the country's

S African inflation still too high: central bank [ARTICLE]

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S African inflation still too high: central bank Reuter JOHANNESBURG South Africa's inflation rate, held to single digits in 1993 and 1994 for the first stretch in 20 years, remains too high compared with those of its main trade partners. However, the Reserve (central) Bank yesterday warned that recent aggressive

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BEMflKC'ji »,wSW a'nL'Efc .rfiW* J? V i Hsl•>* ":-h^f^.Jfcfe"Jf^vLi.: V v Jiff ''i&fai'J''- •■&E w ijil w&nim I mmm lilM TffjfrirT j 1 E»*flTLlj« EL-VMI r yju)HM Sk&Bl fei Hy| \F <lE B I lir'bte. Kx v? '''-'-?w-v> ,*'.> ri- vvWjsg» %Jsc"'- iSBI at'm Ih M m •-^—tw— L ■-.fIWQ

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s* 8 DBS LAND I DBS LAND LIMITED (Incorporated in the Republic of Singapore) The Board of Directors of DBS Land Ltd wishes to announce that the unaudited results of the DBS Land Group 6) Balance sheet as at 30 june I for the half year ended 30 June 1994

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3 i. t* '-ill* XiHil*. kii'jtli in L I t liC.il I I i o vf I .1 i,ii,ti?' j I I I ll' I I I I r *-< a rr I I* Vlr n I The following deserve j_ jjji; i t bei,onou f i lh 111 II

PROPERTY & CONSTRUCTION

Malaysians take building skills abroad [ARTICLE + ILLUSTRATION]

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Malaysians take building skills abroad More firms are securing major contracts with soft loans, reports S Renuka S Renuka Bernama Malaysians are making a mark in the overseas construction market, notably in low-cost housing and hotels, deriving much-needed foreign exchange to help ease the country's services deficit. Local companies have

Property classifieds go visual [ARTICLE + ILLUSTRATION]

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Property classifieds go visual House hunters can now view a property at home through The Sunday Times, reports Tan Su Yen Tan Su Yen HOUSE hunters combing the property section of The Sunday Times' Sunday Classifieds section can now decide from photographs if they want to view a property or

Chan Brothers to develop properties in New Zealand, Australia [ARTICLE]

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Chan Brothers to develop properties in New Zealand, Australia Firm has more than SlOOm worth of projects in the two countries, says Abdul Hadhi Abdul Hadhi Tourism-based Chan Brothers Travel has joined the list of loeal companies developing property in Australia and New Zealand. Chan Khar Heng, who oversees the

Auckland commercial property becoming bullish [ARTICLE + ILLUSTRATION]

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Auckland commercial property becoming bullish By Audrey Tan THE industrial and retail property market in Auckland, New Zealand, is becoming increasingly bullish, says estate agent Colliers Jardine. In the lastest edition of its half-yearly "Asia Pacific Trends" report, it tips significant prices rises in the next 12 months. Demand for

PROPERTY WATCH [ARTICLE]

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PROPERTY WATCH Selected transactions in the past week aa, 1 PHWrt 1 Typ. iJKgJlt-l «y» private Aug 15,1994 1953 Hai Sing Road Semi-d I 2740 999 1,460,000 76?~ Aug 15,1994 2880 Jalan Bangau Semfd ~1800 999 1,450,000 426_ Aug 15,1994 1646 Bayshore Pa* 'Condo 2 I 937 j 999 570,000

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h I n i i Small though the key may look, I it carries a weighty significance. Fact is. Henry will handle every tiny detail of a project. So that ultimately. all our client has to do is collect the key to his office from us. We'll take I care

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SPORTS

S Africa wins first medal after 36 years [ARTICLE + ILLUSTRATION]

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S Africa wins first medal after 36 years AP VICTORIA, British Columbia South Africa, in the Commonwealth Games for the first time in 36 years, earned its first medal on Sunday after a controversial cycling finish. And Australia's 10-race winning streak in the pool ended in stunning fashion with three

Indian marksmen shoot down pistol record [ARTICLE]

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Indian marksmen shoot down pistol record AFP VICTORIA Marksmen Ashok Pandit and Jaspal Rana conquered the pressure of intense home expectations to win India's first gold medal of the Commonwealth Games here. Day three on Sunday at Heal's Range also featured a bizarre dispute over a Canadi-an-Australian photofinish which ended

M'sia pushes England to final seconds in badminton battle [ARTICLE + ILLUSTRATION]

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M'sia pushes England to final seconds in badminton battle VICTORIA England won the badminton team gold medal 3-2 on Sunday but Malaysia came within a whisker of preventing their fifth consecutive title in a dramatically fluctuating team final. Everything hinged on an extraordinary last encounter in the mixed doubles, in

Montgomerie storms home to win English Open [ARTICLE + ILLUSTRATION]

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Montgomerie storms home to win English Open Golf AP COVENTRY, England A dramatic 10-foot birdie putt on the final green gave Colin Montgomerie his first victory on British soil on Sunday when he won the English Open by one stroke. Scotland's Montgomerie shot a final round 69 on the Forest

SIDE LINES

Lowery bags first PGA Tour triumph [ARTICLE]

Page 13

Lowery bags first PGA Tour triumph AP CASTLE ROCK, Colorado Steve Lowery made eagles on the 14th and 17th hole to force a playoff, then made par on the first extra hole to win the US$l.4 million (552.13 million) PGA International here on Sunday. Lowery took home UXXXXX,000 and his

Women's boxing for the Olympics? [ARTICLE]

Page 13

Women's boxing for the Olympics? AFP VICTORIA Women's boxing has taken its first step towards becoming an Olympic sport after its top amateur official gave it the thumbs up here on Sunday. Anwar Chowdhry, president of the world governing body lABA, said they will agreed to allow women to officially

Vote of confidence for England captain [ARTICLE]

Page 13

Vote of confidence for England captain AFP LONDON Michael Atherton was backed by chairman of selectors Ray Illingworth here on Sunday to continue as England captain. "He's made mistakes but he's learning as he goes along," said Illingworth, himself a former England skipper. "I'm only one of four selectors but,

First woman official for English league [ARTICLE]

Page 13

First woman official for English league AFP LONDON Wendy Toms made football league history at Torquay United on Saturday when she became the first woman to officiate in an English league game. Toms, a 31-year-old postal worker, was one of the linesmen at the Third Division game between Torquay and

Unser sweeps top spots [ARTICLE]

Page 13

Unser sweeps top spots Reuter LOUDON, New Hampshire A 1 Unser Jr, winning for the seventh time this season, led a sweep of the top three spots for the Penske Ilmor team at the New Hampshire International Speedway on Sunday. Unser, who averaged 122.635 mph for the 200 lap race,

England cruises to eight-wicket win [ARTICLE]

Page 13

England cruises to eight-wicket win AP LONDON England had little trouble on Sunday in reaching its target of 204 to win the third and final Test against South Africa by eight wickets and tie the series 1-1. The confidence and aggression which Devon Malcolm exuded when taking nine South African

SCORE CARD

Cricket [ARTICLE + ILLUSTRATION]

Page 13

Cricket LONDON England won the third lest against South Africa b> eight wickets at The Oval on Sunday to draw the series 1-1. SA Ist innings 332 (BM McMillan 93. DJ Richardson 58. J.E. Benjamin 4-42. PA J DeFrcitas 4-93). Eng Ist innings 304 (G P Thorpe 79. A J

Golf [ARTICLE + ILLUSTRATION]

Page 13

Golf CASTLE ROCK, Colorado Final round scores at the l/Ssl.4m International on Sunda>. (Modified Stableford point scoring system: eagle +5 pts; birdie +2 pts; par 0 p(: boge> -I pt; double boge> or worse -3 pis. (L'S unless stated): +35 Steve Lowery +7 +14 5 +9. Rick Fehr +10 +5

Tennis [ARTICLE + ILLUSTRATION]

Page 13

Tennis MONTREAL UXXXXX,000 Canadian Open on Sunday: 2-Arantxa Sanchez Vicario (Spain) b 1-Steffi Graf (Germany) 7-5, 1-6, 7-6 (7-4) INDIANAPOLIS, Indiana US$l.O4 million RCA Championships on Sunday: 7-Wayne Ferreira (SA) b O Delaitre (Fr) 6-2, 6-1 GRAZ, Austria UXXXXX,000 A IP on Sunday: 8-Francisco Clavet (Spain) b 2-Gilbert Schaller (Austria)

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Page 14

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LIFESTYLE

See the movie, but don't reveal the plot [ARTICLE + ILLUSTRATION]

Page 15

See the movie, but don't reveal the plot It worked for The Crying Game and now marketers are hoping the strategy will work for The Advocate, a mediaeval murder movie witn a surprise twist UPI Hollywood studios love to repeat themselves not just by releasing a seemingly endless stream of

Rod Stewart sues paper [ARTICLE + ILLUSTRATION]

Page 15

Rod Stewart sues paper CHATTERBOX AP AP AP RASPY-VOICED Rod Stewart says his throat is fine, and he's suing a British tabloid for saying it isn't. Stewart seeks at least US$4O million (5560.8 million) in the lawsuit filed on Friday against News Group Newspapers Ltd, which publishes The Sun. A

For director, new music museum is shrine to rock of rages [ARTICLE]

Page 15

For director, new music museum is shrine to rock of rages AP THE director of a US$9O million (SSI3S million) shrine to rock 'n' roll music to open next year in Geveland figures his involvement in an obscenity trial helped him land the job. He is Dennis Barrie. 47, an

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Page 15 Miscellaneous

Page 15 Miscellaneous Column 1 [MISCELLANEOUS]

Page 15

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Japan's dark shadows [ARTICLE]

Page 16

Japan's dark shadows KjanoßiAi. 5 SOUTH-EAST Asian nations, including Singapore, will play host this week to Japanese Prime Minister Tomiichi Murayama, a venerable and kindly man, a socialist and a pacifist. No doubt he will come bearing olive branches and making dovish statements about a new partnership of equals between

WHAT THE OTHERS SAY

Where now, Sri Lanka? [ARTICLE]

Page 16

Where now, Sri Lanka? SRI LANKA, finally, is on the right track, and it has the imprimatur of World Bank and IMF support. While the Sinhalese-Tamil tension and political murders have captured attention and become a byword for the country, it is the economic gains that need protecting. This is

A matter of life and death [ARTICLE]

Page 16

A matter of life and death THE LIVING WILL is not just a matter of cost-saving and giving terminally-ill patients a choice to die by stating that they wish life-support to be withdrawn. It involves the question of feeling and moral responsibility. And although death is an individual matter, the

Clinton heading for China? [ARTICLE]

Page 16

Clinton heading for China? IN CIRCUMSTANCES of improving military and trade relations, progress in political relations between China and the US is natural and inevitable. Thus, some reports recently claimed that President Clinton hoped to visit China when he attends the Apec meeting in Jakarta. It is not known if

Don't ignore small-timers [ARTICLE]

Page 16

Don't ignore small-timers ON THE BACK of a robust economy, the Malaysian banking industry has performed creditably. Last year, unaudited pre-tax profits of commercial banks rose by 49.3 per cent to M 52.9 billion. Those listed on the Kuala Lumpur Stock Exchange (KLSE) have seen their share prices being chased

No love lost [ARTICLE]

Page 16

No love lost IT IS HARD for foreigners to understand the almost pathological hatred Cambodians harbour for Vietnamese. It spreads across all classes and defies all rationality. From economic woes to the spread of Aids and the loss of forest cover, the blame is invariably laid at the feet of

Openness can be closed in Indonesia if necessary [ARTICLE + ILLUSTRATION]

Page 16

Openness can be closed in Indonesia if necessary Syed Farid Alatas says openness in Indonesia does not mean unlimited freedom which could harm policies to achieve long-term development goals Syed Farid Alatas The writer teaches at the Department of Sociology at the National University of Singapore. He contributed this article

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Page 16 Miscellaneous Column 1 [MISCELLANEOUS]

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ANALYSIS

Red sun over Vietnam [ARTICLE + ILLUSTRATION]

Page 17

Red sun over Vietnam When Japanese Prime Minister Tomiichi Murayama visits Vietnam on Thursday and Friday, he will find Japanese traders, car-makers and banks busy beefing up their presence in the emerging economy. Harish Mehta reports Harish Mehta U"W" says I a Vietnamese businessman, I I "deserves a -ML gold

Banks wait and watch — warily [ARTICLE + ILLUSTRATION]

Page 17

Banks wait and watch warily SHINJI "Sean" Yasuda, Masao Tanabe, and other Japanese bankers in Vietnam have a common fear. Their banks have set up representative offices but they aren't in a huny to open branches as the market is too risky for the conservative Japanese. While Japanese bankers endlessly

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S'pore businessmen set to service other investors in Myanmar [ARTICLE]

Page 18

S'pore businessmen set to service other investors in Myanmar Reports by Harish Mehta SINGAPORE businessmen are laying the groundwork to service other foreign investors in Myanmar as the country opens its doors to sorely needed outside investment. Their role is reflected in two agreements to be signed here today between

Bank Negara plans to loosen rein on stronger banks [ARTICLE]

Page 18

Bank Negara plans to loosen rein on stronger banks From Ho Kay Tat in KUALA LUMPUR MALAYSIA'S central bank said yesterday it was considering the possibility of having a two-tier regulatory system that would permit the stronger banks to operate in a lessregulated environment. This was part of a review

HK is cheaper than S'pore in many areas: EIU [ARTICLE]

Page 18

HK is cheaper than S'pore in many areas: EIU By Catherine Ong SINGAPORE Multinational companies thinking of shifting their operations from Hongkong to Singapore because of the territory's high rents should think again, according to the Economist Intelligence Unit (EIU). Despite its high office rentals, which are now the most

HK property yields higher returns than stocks [ARTICLE]

Page 18

HK property yields higher returns than stocks HONGKONG Money spent on properties here has yielded higher returns than on stocks over a period of 10 years since 1984, according to a joint report by Jones Lang Wootton (JLW) and Hongkong University. "I think most people look at Hongkong as a

Clinton snatches victory as House passes crime Bill [ARTICLE]

Page 18

Clinton snatches victory as House passes crime Bill NYT WASHINGTON With the vital support of Republicans, House Democrats on Sunday achieved what they could not do on their own, passing a US$3O.2 billion (5545.3 billion) anti-crime package and sending it to the Senate. The vote gave President Bill Clinton the

When the tap runs dry [ARTICLE + ILLUSTRATION]

Page 18

When the tap runs dry Reuter HANDA, Japan Water shortage in central Japan has been a fine kettle of fish for people living in central Japan. But fine kettles, for this barber, make handy water dispensers when he shampoos customers' hair. Handa's authorities cut off water supply for 19 hours

Canberra must find balance in human rights representations [ARTICLE + ILLUSTRATION]

Page 18

Canberra must find balance in human rights representations The Bottom Line PETER OSBORNE PETER OSBORNE The writer is a BT journalist AUSTRALIA'S push for closer ties with Asia offers great economic rewards, but pointers have emerged in the past weeks including criticism that Canberra operates a double standard on human

Mexico's ruling party candidate in the lead in presidential polls [ARTICLE]

Page 18

Mexico's ruling party candidate in the lead in presidential polls Bloomberg Business News MEXICO CITY Ernesto Zedillo, the ruling party's presidential candidate, received 48 per cent of the votes after Mexico's Federal Electoral Institute yesterday counted a quarter of all ballots cast. Diego Fernandez de Cevallos of the conservative National

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COMPANIES & MARKETS

Property development profits lift DBS Land's after-tax [ARTICLE]

Page 19

Property development profits lift DBS Land's after-tax By Abdul Hadhi PROFITS from property development helped DBS Land post a 20 per cent rise in group after-tax earnings to $48.72 million at half-time. Releasing its Financial results yesterday, the listed group said the improvement in earnings for the half-year to June

Causeway cuts interim loss to $988,000 [ARTICLE]

Page 19

Causeway cuts interim loss to $988,000 By William Chia SINGAPORE Industrial equipment supplier Causeway Investment has reduced its net group loss to $688,000 for the six months to June 30, from $3.01 million in firsthalf 1993. Causeway, which released its unaudited interim results yesterday, said turnover rose 43.1 per cent

Koh Brothers' share offer 7 times subscribed [ARTICLE + ILLUSTRATION]

Page 19

Koh Brothers' share offer 7 times subscribed SINGAPORE Construction and property developmentbased Koh Brothers Group's initial public offer closed at noon yesterday, having attracted $358 million in applications. A total of 83 million shares, or 34.87 per cent of the enlarged capital, was offered at a fixed price of 68

Transmarco: directors can't account for price rise [ARTICLE]

Page 19

Transmarco: directors can't account for price rise SINGAPORE Transmarco said yesterday that other than the company's recent disposal of three associate companies and rumours of a takeover, its directors were not aware of any development which may have affected its share price. Transmarco was responding to a query by the

Transmarco share price movements send out furious smoke signals, but no fire in sight [ARTICLE + ILLUSTRATION]

Page 19

Transmarco share price movements send out furious smoke signals, but no fire in sight HOCK LOCK SIEW By Corinne Kerk SINGAPORE When the share price of a sleepy mainboard counter moves up 34 per cent in slightly over a week and its volume shoots up from a daily average of

Flextech offers 18m shares at 55 cents apiece [ARTICLE]

Page 19

Flextech offers 18m shares at 55 cents apiece By Joseph Rajendran SINGAPORE Diversified electronics and computer group Flextech Holdings yesterday launched its initial public offer for a listing on Sesdaq. The group is offering 18 million new shares in two tranches 13.5 million for public subscription at a fixed price

EYE on your STOCKS

MARKET MOOD [ARTICLE + ILLUSTRATION]

Page 19

MARKET MOOD Mixed Market Mood indicates the likely trading sentiment today, based on brokers polled at 5 6nm yesterday. Overnight events may alter sentiment Brokers polled Alliance, fkitwa. h'raser. Morgan Grenfell. Nomura. Phillip. Smith \ew ('ourt and I'at Ijee.

HOT STOCK [ARTICLE + ILLUSTRATION]

Page 19

HOT STOCK By Paul Leo Hong Leong Properties has risen 86 cents or 45.3 per cent to $2.76 from $1.90 on July 4. Medium and short-term technical factors are warning of a correction soon. Daily Relative Strength Index has been above 75 this month, indicating an overbought condition. Monthly, weekly

COMPANIES

MPC forms group to boost bid for Manila prime property [ARTICLE]

Page 20

MPC forms group to boost bid for Manila prime property From Al Labita in MANILA METRO Pacific Corp (MPC), the Manila flagship of Indonesia's Salim Group, has formed a consortium to strengthen its bid for ownership of a prime government property. The property is the 440hectare Fort Bonifacio, a sprawling

Japanese yard gets SML deal for harbour tugs [ARTICLE]

Page 20

Japanese yard gets SML deal for harbour tugs SINGAPORE Sembawang Maritime Ltd's Hongkong arm has awarded a HKSSO million (559.71 million) contract to a Japanese shipyard to build two harbour tugs. SML yesterday said South China Towing Co's two new 3,000 horsepower tugs would help strengthen its operations in the

New deal at NBT hints at change in Sabah timber scene [ARTICLE + ILLUSTRATION]

Page 20

New deal at NBT hints at change in Sabah timber scene By Agnes Chen SINGAPORE Control of plantation company North Borneo Timber Bhd (NBT) has passed to a new board linked to the highest levels of the Sabah government a hint of coming changes in the allocation of timber resources

CCB group pre-tax soars to M$26m, Cold Storage (M) up 90pc [ARTICLE + ILLUSTRATION]

Page 20

CCB group pre-tax soars to M$26m, Cold Storage (M) up 90pc Bernama KUALA LUMPUR Cycle Carriage Bintang Bhd has reported a group pre-tax profit of M 526.37 million (S$ 15.3 million) for the six months to June 30, 1994, against M 53.54 million for the six months to March 31,

Philippine Realty, KL's Ganda in joint venture talks [ARTICLE]

Page 20

Philippine Realty, KL's Ganda in joint venture talks MANILA Real estate developer Philippine Realty Holdings Corp (Philreaity) is in negotiations with Malaysianbased Ganda Holdings Berhad for a joint venture to acquire at least 67.02 per cent of Philippine Racing Club Inc. The Philippine Stock Exchange (PSE) yesterday said it had

Berjaya Hotels expands operations in Seychelles and Sri Lanka [ARTICLE]

Page 20

Berjaya Hotels expands operations in Seychelles and Sri Lanka Bernama KUALA LUMPUR Berjaya Hotels Resorts, a division of Berjaya Leisure Bhd, has expanded operations in Seychelles Islands and Sri Lanka. From May I, 1994, the company had taken over the management of three hotel properties in the Seychelles, which will

Advance Synergy takeover of M'sia's UMG stuns market [ARTICLE]

Page 20

Advance Synergy takeover of M'sia's UMG stuns market Reuter KUALA LUMPUR A complex deal involving the restructuring and takeover of United Merchant Group Bhd (UMG) by Advance Synergy Bhd ASB, announced barely 24 hours after UMG's listing, has dumbfounded Malaysia's share market. "How can they do this just one day

Pentex-Schweizer chalks up 77pc rise in profit [ARTICLE]

Page 20

Pentex-Schweizer chalks up 77pc rise in profit SINGAPORE Printed circuit board maker PentexSchweizer has reported a 77 per cent increase in after-tax profit to $7.97 million for the year to June 30. Sales rose 18 per cent to $71.32 million, with strong demand for high-end products and an increase in

Teledata's pre-tax profit jumps 69pc on strong sales [ARTICLE]

Page 20

Teledata's pre-tax profit jumps 69pc on strong sales SINGAPORE Communications systems supplier Teledata, listed on Sesdaq in May, yesterday announced its first interim results for the period to June 1994. Pre-tax profit grew 69 per cent to $1.46 million on a 57 per cent increase in sales to $20.76 million.

Untitled [ARTICLE]

Page 20

Meeegen'price* Aug 23 Mendaki Gr Fund 120 l.23g Smcaoore Unit Trust us or Fund ..oo 0 IAMB I Atfl The Commerce 1.65 1.75 The Savings Fund 1.58 1.67 Unifund 1.54 1.60 S'poie Prog Fund 0.71 0.75 Unibond I.0J5 1.060 S'porc Sec Fund 1.03 l.09xd Uniied Gr Fund! 1.73 1.80 S'porc

Citic Pacific interim earnings up 46pc, in line with forecasts [ARTICLE]

Page 21

Citic Pacific interim earnings up 46pc, in line with forecasts From Lim Soon Neo in HONGKONG CHINA'S investment flagship Citic Pacific yesterday reported interim profit attributable to shareholders of HK51.167 billion (XXXXX million) up 46 per cent over the corresponding period last year. The group, which is 42.78 per cent

Kuok group cuts Shangri-La Asia stake [ARTICLE]

Page 21

Kuok group cuts Shangri-La Asia stake Bloomberg Business News HONGKONG The privately held Kuok group has reduced its stake in Shangri-La Asia Ltd to 56 per cent from 61.5 per cent, raising HK5676.2 million (SSI33 million). The Kuok group, controlled by Malaysian-Chinese tycoon Robert Kuok, sold 58.8 million shares of

Trading in 2 Shougang firms suspended [ARTICLE]

Page 21

Trading in 2 Shougang firms suspended Bloomberg Business News HONGKONG Shares in two companies controlled by China's state-owned steel giant Shougang Corp were suspended from the opening of trading on the Hongkong stock exchange yesterday. "Hie suspensions of Shougang Concord International Enterprises and Shougang Concord Grand (Group) came at their

Shanghai bourse to change trading hours [ARTICLE]

Page 21

Shanghai bourse to change trading hours Bloomberg Business News BEIJING The larger of China's two stock markets, the Shanghai Securities Exchange is to alter its trading hours after Sep 5, the Liberation Daily reports. From that date, the market's trading hours will be from 10.15 am to 11.45 am and

New China Hongkong helping Choi Sai-leung to place Seapower shares [ARTICLE]

Page 21

New China Hongkong helping Choi Sai-leung to place Seapower shares Eastern Express HONGKONG New China Hongkong Capital's managing director, William Kwong, has confirmed that the company was acting on behalf of Choi Sai-leung to place out part, or all of the Seapower International shares he will buy from the group's

Inflation, bad debts, slack markets threaten Shanghai B shares [ARTICLE + ILLUSTRATION]

Page 21

Inflation, bad debts, slack markets threaten Shanghai B shares Reuter SHANGHAI Shanghai's B share market has been boosted by a crop of better-than-expec-ted corporate results, but analysts warn the figures mask hidden risks from inflation, doubtful debts and slack markets. Although half-year results show profits are generally buoyant, many companies

China power industry heavily in debt: GE exec [ARTICLE]

Page 21

China power industry heavily in debt: GE exec Bloomberg Business News HONGKONG China's electrical power industry is facing a crippling debt problem due to the government's austerity policies, according to a top Hongkong-based official with the US conglomerate General Electric Co. What was called the triangular debt problem had hit

AT&T in drive to block transatlantic telecoms competition [ARTICLE]

Page 22

AT&T in drive to block transatlantic telecoms competition FT LONDON The United States' largest telecommunications company, AT&T, is campaigning to hold back competition in the lucrative transatlantic telecoms market which could significantly cut prices. The competition will come from so-called international simple resale, under which operators lease international lines and

Toyota poised for fourth year of fall in profit, but may be turning the corner [ARTICLE]

Page 22

Toyota poised for fourth year of fall in profit, but may be turning the corner Bloomberg Business News TOKYO It is almost certain that Toyora Motor Corp, Japan's largest car maker, will report its fourth straight annual profit decline on Thursday when it announces full-year earnings results. The parent company

Israeli blue chips recover in early trading [ARTICLE + ILLUSTRATION]

Page 22

Israeli blue chips recover in early trading Reuter TEL AVIV Blue chips on the Tel Aviv Stock Exchange (TASE), licking their wounds after sharp losses on Sunday, rose mildly in early trading yesterday. The TASE benchmark Mishtanim index was up 0.88 of a point, or 0.53 per cent, to 166.06

Hitachi eyes PC production outside Japan [ARTICLE]

Page 22

Hitachi eyes PC production outside Japan AFP TOKYO Japan's biggest electric machinery maker, Hitachi Ltd, is considering plans to produce and market personal computers overseas for the first time, a company spokesman said yesterday. Details of the plan, such as the timing and scale, have yet to be decided, the

Aussie rate rise clears way for stocks rebound [ARTICLE]

Page 22

Aussie rate rise clears way for stocks rebound Reuter SYDNEY Australia's first interest rate rise in five years, far from spooking the stock market, has cleared the way for the market to break out of its lethargy, analysts say. Investors had been anticipating a rise since June and news last

FINANCE & COMMODITIES

Analysts wonder how much further the dollar will fall [ARTICLE + ILLUSTRATION]

Page 23

Analysts wonder how much further the dollar will fall IHT PARIS These are tough days for the dollar and analysts warn of worse to come. Hopes for an early revival were dashed last week when the dollar failed to respond as expected after the Federal Reserve Board increased its key

Bank of Thailand says high liquidity is short term, no need to intervene in market [ARTICLE + ILLUSTRATION]

Page 23

Bank of Thailand says high liquidity is short term, no need to intervene in market Reuter BANGKOK The Bank of Thailand (BOT) does not need to intervene in the money market despite the high volume of "hot" money flowing into Thailand because it sees the problem as short term. BOT

Moody's rates Korea Exchange Bank [ARTICLE]

Page 23

Moody's rates Korea Exchange Bank SINGAPORE International rating agency Moody's Investors Service has assigned ratings of A3 and Prime-2 to Korea Exchange Bank for its long-term and short-term deposits, respectively. Moody's yesterday said the ratings reflected KEB's position as a major Korean commercial bank, as well as its low but

HK launches new law to regulate leveraged forex trading [ARTICLE]

Page 23

HK launches new law to regulate leveraged forex trading AFP HONGKONG Hongkong is to impose a new law to regulate leveraged foreign exchange trading starting next month. Michael Cartland, secretary for financial services, yesterday said the ordinance was a crucial step in the continuing improvement to Hongkong's regulatory regime. Under

KL banks likely to post 25pc earnings growth: review [ARTICLE]

Page 23

KL banks likely to post 25pc earnings growth: review Bernama KUALA LUMPUR Banks in Malaysia are projected to post more than a 25 per cent earnings growth in 1994 on the back of healthy lending margins, strong treasury gains and fees income. Apex Securities yesterday said that since the boost

Bank Negara moves to polish up tarnished image [ARTICLE]

Page 23

Bank Negara moves to polish up tarnished image Reuter KUALA LUMPUR Bank Negara's recent dismantling of eight-month-old capital controls that soured investor sentiment in Malaysia is a bid by the central bank to restore its tarnished international image. Economists and analysts yesterday said last week's moves marked a return to

Governor of Bank Indonesia wants orderly rise in rates [ARTICLE]

Page 23

Governor of Bank Indonesia wants orderly rise in rates Knight-Ridder SINGAPORE Commercial banks can raise their deposit rates provided they do so in an orderly manner, the Bisnis Indonesia said yesterday quoting Bank Indonesia governor Soedradjad Djiwandono. "If fundamental factors urge higher rates, then go ahead. But don't let it

Morgan Grenfell's tax rate swap opens up new market [ARTICLE]

Page 24

Morgan Grenfell's tax rate swap opens up new market FT LONDON Morgan Grenfell, the UK merchant bank, has entered a UK tax rate swap, which could mark the opening of a new market for hedging tax exposure. The agreement, signed this month, will allow its client to protect itself from

Rubber producers to hold talks on buffer stock sales and new pact [ARTICLE]

Page 24

Rubber producers to hold talks on buffer stock sales and new pact Reuter KUALA LUMPUR Rubber producing countries will meet in Kuala Lumpur today to discuss recent buffer stock sales to cool a sizzling world market and negotiations for a new price pact, officials said on Sunday. Sucharit Promdej, secre-tary-general

Woes of NZ's meat industry continue with demise of Weddel [ARTICLE + ILLUSTRATION]

Page 24

Woes of NZ's meat industry continue with demise of Weddel Reuter WELLINGTON New Zealand still has 15 times as many sheep as humans but a decade of sharply falling stock numbers has plunged the meat industry into a parlous state. The latest to fall prey to stock shortages and chronic

Esso to replace distillation towers at Port Dickson [ARTICLE]

Page 24

Esso to replace distillation towers at Port Dickson Bernama KUALA SELANGOR The capacity of Esso's refinery in Port Dickson, Negeri Sembilan, is expected to increase to 75,(XX) barrels a day with the installation of two new distillation towers costing MSIOO million (5558.8 million) next year. Esso Malaysia Bhd managing director,

Merger frenzy in oil equipment sector [ARTICLE]

Page 24

Merger frenzy in oil equipment sector Platt's-Oilgram HOUSTON McDermott International, in the latest of a flurry of recent merger and acquisition moves in the oil field service industry that analysts see as much needed, is holding talks with Stolt Comex Seaway on the possible combination of their subsea operations. The

China forecasts nickel output reaching 50,000 tonnes [ARTICLE]

Page 24

China forecasts nickel output reaching 50,000 tonnes KnightRidder HONGKONG The staterun China National Nonferrous Metals Industry Corp estimates China will produce between 40,000 and 50,000 tonnes of nickel this year, but other sources say the figure is too high. Official statistics show China produced only 15,494 tonnes of nickel in

Crude tumbles below US$17 with declining demand [ARTICLE]

Page 24

Crude tumbles below US$17 with declining demand Bloomberg ENERGY REPORT Bloomberg Business News NEW YORK Crude oil futures on the New York Mercantile Exchange plunged below US$l7 a barrel for the first time since May amid concern that supplies during the next two months will be ample as demand declines.

Better exploration methods needed to keep oil flowing in S-E Asia [ARTICLE]

Page 24

Better exploration methods needed to keep oil flowing in S-E Asia AFP KUALA LUMPUR Southeast Asia's oil fields are likely to continue flowing for another 30 to 40 years, but explorers would need better techniques to make new strikes when old wells dried up, experts and officials said yesterday. "There

London [ARTICLE]

Page 24

London Reuter LONDON The dollar's immediate future looked bleak in late European trading, with few signs that the US currency would manage to avert a nearterm test of its 1994 low around 1.5150 marks. At 1525 GMT, it was at 1.5310/20 marks from 1.5395 late last Friday. But with the

New York [ARTICLE]

Page 24

New York AFP NEW YORK The dollar weakened against major currencies except the pound in light trading dominated by purchases of the yen. Around 1345 GMT, the dollar was trading at 1.5345 marks against 1.5582 marks at the end of the week and 97.93 yen against 98.47 yen. In London

Untitled [ARTICLE + ILLUSTRATION]

Page 24

I radr-HrtftiinJ indrx cah ukjlnl againy Spurn lap 14 trailing pannen flaw yrar 199: US$/S$ forward rates Noon Aug 22 s$ BU Offer I month XXXXX I 5010 2-month XXXXX I 5004 J-month I 4985 1 4999 6-month 1.4957 1.4977 Source: OCBC FOREIGN CURRENCY NOTE RATES As at 9mi m

COMMODITIES & FUTURES

Euroyen, JGB soften in quiet session [ARTICLE]

Page 25

Euroyen, JGB soften in quiet session Reuter SINGAPORE Simex Euroyen and Japanese government bond (JGB) futures softened at the end of a quiet session on a tack of fresh news. Dealers said dollar-watching remained the main order of the day. The US currency weakened steadily during the Tokyo session, despite

Tin below M$13 on London fall [ARTICLE]

Page 25

Tin below M$13 on London fall COMMODITY REPORTS KL Tin TIN fell to a seven-month low when it plunged 26 sen to close at M$ 12.99 a kg as prices dropped in London. The last time tin went below the Msl3 mark was on Jan 14 when it dropped to

COMMODITY PRICES [ARTICLE]

Page 25

COMMODITY PRICES ■fr-.hh ir vniDoer (Mm dMtag at at Utpa) RSS 1 C«tract (S ctnts/kg) Ooac Volume Open Month High Low Sett (tonnes) Interest Sep 94 213.00 213.00 213.50 100 2450 Oct 201.00 200.00 201.73 100 4I7S Nov 119.50 IS7.S0 119.25 300 4600 Dee 113.50 111.00 115.25 1050 4900 Jan/Mar

REGIONAL STOCK MARKETS

Australia [ARTICLE]

Page 26

Australia +2.3 SHARES drifted upwards yesterday to a slightly firmer close but most investors were sidelined with little direction from fiat overseas markets. The key All Ordinaries Index closed at 2,063.3 points, 2.3 above Friday's finish. The All Industrials Index closed 3.6 weaker at 2,999.5 while the All Resources rose

Manila [ARTICLE]

Page 26

Manila +38.47 Share prices rose 1.28 per cent yesterday as interest rates of government securities continued to decline, analysts said. This week's pre-qualification bid for a joint venture to develop 214 ha of government property in the heart of the capital also boosted the market, with the rise in gold

Taipei [ARTICLE]

Page 26

Taipei +32.76 Stocks ended higher in active trading for the third winning session, with cements and banking and insurance shares topping the winning list. The 376-issue Weighted Price Index gained 32.76 points to end at 6,838.6. Turnover was 2.646 billion shares valued at NTS 120.8 billion. In light of a

Seoul [ARTICLE]

Page 26

Seoul 15.9 Share prices jumped yesterday, as market sentiment was revived on news of improved money supply among institutional investors, dealers said. The Composite Price Index gained 15.9 points to settle at 962.96, taking it back to the 960 level of 40 days ago. Turnover totalled 35 million shares worth

New Zealand [ARTICLE]

Page 26

New Zealand +0.99 Stocks closed little changed after a soporific Monday session, with volumes light and trade featureless. The NZSE-40 Capital Index closed at 2,091.72 points, 0.99 higher than the previous close, with the high for the day was only four points higher. Brierley was the strongest of the leaders,

WORLD STOCK MARKETS

London [ARTICLE]

Page 26

London -20.1 STOCKS declined yesterday as a falling dollar threatened profits of companies with substantial US earnings. The FT-SE 100 Index fell 20.1 points to 3,171.3, after briefly rising above the 3,200 level for only the second time since March. "No one's thinking particularly positively at the moment," said a

Paris [ARTICLE]

Page 26

Paris -28.70 French stocks fell yesterday, as investors, already gripped by interest rate pessimism, felt the threat of a falling dollar. "After the interest rate hike in the US last week, the dollar did nothing, and if it can't rally on that, it can't rally on anything," said an analyst.

Johannesburg [ARTICLE]

Page 26

Johannesburg +4 South African shares ended higher yesterday despite concern about softer world equities and sharply weaker local bonds. The bond market ended sharply weaker amid foreign selling. The Overall Index added 48 points to 5,847, the Industrial Index was four points better at 6,593 and the Gold Index made

Frankfurt [ARTICLE]

Page 26

Frankfurt -30.47 German stocks fell as concern about the dollar and falling bond futures sent the DAX Index to its lowest since mid-July. The index closed down 30.47 points at 2,113.37, its lowest closing since July 15, when it reached 2,103.54. "It's the weak bonds, weak dollar and negative markets,"

Brussels [ARTICLE]

Page 26

Brussels -9.02 Belgian stocks fell for a third day as a decline in the dollar and rising bond yields weakened the outlook for corporate earnings. The Bel-20 Index closed down 9.02 points at 1,438,18, its lowest point since July 22. Belgian bonds were knocked by speculation that the government isn't

Stockholm [ARTICLE]

Page 26

Stockholm -3.06 Swedish stocks closed lower despite trading higher for most of the day. Friday's late announcement of the opposition Social Democrats' election manifesto sent debt rates lower and supported the bourse. "It is a bit surprising that the bourse closed down, but export companies fell in reaction to the

Zurich [ARTICLE]

Page 26

Zurich -24.6 Swiss stocks closed lower as the renewed weakness of the dollar added to interest rate concern across Europe. The SMI Index of the 23 top stocks lost 24.6 points to 2,532.40, with 21 stocks falling and two unchanged. The broader SPI Index, which tracks 350 stocks, was down

New York [ARTICLE]

Page 26

New York •8.09 The Dow Jones Industrial Average was down 8.09 points to 3,747.02 at Ham EDT. The New York Stock Exchange Composite Index was on 0.83 to 254.98, while Standard Poors 500-stock Index was down 1.69 to 461.99. Declines topped advances 1,081-608 among the 2,460 issues crossing the NYSE

Milan [ARTICLE]

Page 26

Milan 199 Italian shares held onto most of their gains at the close, boosted by largely technical trade and shrugging off declines across other European stock markets. "After the recent falls, we're now seeing a rebound which at the moment is just a technical move," one dealer said. "A lot

Toronto [ARTICLE]

Page 26

Toronto •1.23 Stocks slipped sideways in listless dealings as traditional summer doldrums continued to lull the market. "Flolidays aren't over yet. We've got two weeks until Labour Day then I expect things to heat," one trader said. "We're waiting for the Quebec election, too. Until then, I don't think a

Amsterdam [ARTICLE]

Page 26

Amsterdam -4.15 Dutch stocks fell for a third day as weakness in the dollar and bond markets raised concern over corporate earnings. "The dollar is lower and the bond market doesn't want to recover at all," said a trader. The EOE Index lost 4.15 points to 409.33, its lowest since

Untitled [ARTICLE]

Page 26

Britannia Funds StcHiag Cask Bid Offer Mini Cap Depoul 6400 M 6500 Minn jeney Gi* .0 189J 0 1992 Mil* Ma> Income .XXXXX 0 9500 US$ Cask Income PW> Fund *9 5100 *XXXXX0 PS S Rncrve Fund 5 3000 5.1100 Stcrliaa E^aity Euro Worauiw .0 45*2 0 4911 Far Em

HONGKONG [ARTICLE + ILLUSTRATION]

Page 27

HONGKONG Bloomberg Business News HONGKONG Stocks snapped a two-day losing streak to close higher as investors bid up the share price of Hongkong Telecom, the second heaviest weighted stock on the Hang Seng Index. Investors bought shares of the territory's main telephone company because they believe it is well positioned

CHINA [ARTICLE + ILLUSTRATION]

Page 27

CHINA CLSA THE Shanghai B market was down 11.98 points on turnover of US$4.6 million. Phoenix was the biggest loser, shedding 7.5 per cent on turnover of US$7OO,OOO as the company is expected to report lower than expected interim results this week. The Shenzhen B market edged up 1.97 points

TOKYO [ARTICLE + ILLUSTRATION]

Page 27

TOKYO Reuter TOKYO Stocks ended moderately weaker, with the Nikkei Average just off the day's low. Investors kept a low profile amid worries the strong yen may hit corporate earnings. Ar-bitrage-linked selling and profittaking ahead of the end of the first half on Sep 30 hit prices, brokers said. "Investors

BANGKOK [ARTICLE + ILLUSTRATION]

Page 27

BANGKOK Reuter BANGKOK Stocks closed slightly higher yesterday on buying of selective finance and banking counters after fluctuating in a narrow range, brokers said. The SET Index closed 0.94 points up at 1,489.56 after fluctuating between 1,481.54 and 1,494.17. Turnover was 14.24 billion baht. Falls led rises 159 to 154.

JAKARTA [ARTICLE + ILLUSTRATION]

Page 27

JAKARTA Reuter JAKARTA Share prices closed lower on profit-taking and a fall-off in overseas support after a strong two-week rally. "After the run we have had during the last two weeks, a day like this is normal. It was just a correction," one broker said. The market was not affected

CLOB INTERNATIONAL [ARTICLE]

Page 28

CLOB INTERNATIONAL I MOST ACTIVE volume Bcrjaya L Wt99 11.705.000 FACB 50c 9.487,000 f Multi-Purpose 7,948.000 B Kaya TSR97 7.380.000 Lien Hoc TSR97 6.034.000 Mulpha Inll 50c 5.695.000 Idris Hyd 50c 5.342.000 Kamunting 50c 5,237.000 HLcong Prop 50c 4.924.000 Palmco Hldgs 4.809.000 Insas Bhd 4.167.000 KL Induiiiies 3.825.000 Landmarks Bhd

KUALA LUMPUR STOCK EXCHANGE

Stocks crest 6-month high on foreign buying [ARTICLE + ILLUSTRATION]

Page 28

Stocks crest 6-month high on foreign buying Bloomberg Business News KUALA LUMPUR The benchmark stock index rose to its highest close in more than six months as foreign investors targeted Telekom Malaysia and Tenaga Nasional as proxies for Malaysian economic growth. The Composite Index rose 9.50 points to close at

STOCK EXCHANGE OF SINGAPORE

Untitled [ARTICLE]

Page 29

Cr Cr M Wt 1994 Last V«l Da; UmQi»m Dh Dh VH N«i Cap A* Hick Urn C«mu) Sale COM) High Low Bayer Sella Or HI Saul Price INDUSTRIAL AND COMMERCIAL 1440 135 I Acma 1000 unch 78 1020 1000 1000 1010 17.5 4.7 1.8 16.0 689 3 <N3 800

Property stocks knocked hardest by interest rate hike [ARTICLE + ILLUSTRATION]

Page 30

Property stocks knocked hardest by interest rate hike By R Sivanithy SINGAPORE The Straits Times Industrials Index's resistance point of 2,350 proved solid yesterday, as investors sold local counters, especially property stocks, on interest rate concerns and switched their attention to Malaysian counters. The ST 11 made a brief, halfhearted

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Page 20

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SHIPPING TIMES

Pan-United Shipyard wins $12m ship conversion deals [ARTICLE + ILLUSTRATION]

Page 31

Pan-United Shipyard wins $12m ship conversion deals By Alec Almazan SINGAPORE Pan-United Shipyard has won two ship conversion contracts, together valued at $12 million, from the Philippines and Australia. J, The first contract calls for the lengthening of the Philippine inter-island passenger ferry vessel Sugbu by 20 metres. The other

Evergreen chief calls for direct links with China [ARTICLE]

Page 31

Evergreen chief calls for direct links with China FT TAIPEI The chairman of Taiwan's Evergreen Group, Chang Jung-fa, has called on tfce Taiwan government to "separate politics from economics" and open direct shipping and air links to China, saying Taiwan's economic future hinged on direct ties. In a rare interview

INDEX TO SHIPPING LINES AND FREIGHT FORWARDERS [ARTICLE]

Page 31

INDEX TO SHIPPING LINES AND FREIGHT FORWARDERS Page Col Accord Group 8 1-3 Ahlers Lines 13 5 Ahrenkiel Liner 4 1/2 •APL 5 3-5 •Appenship 8 4/5 •ANL 3 1/2 •ASCL 5 5 Assist Marine 6 1 Avant Shpg 6 2/3 •Bait Orient Line 7 4/5 •Bank Line, The 9

NOL, Hapag-Lloyd, NYK to tie up on Far East-Europe route [ARTICLE]

Page 31

NOL, Hapag-Lloyd, NYK to tie up on Far East-Europe route By Rahita Elias SINGAPORE National carrier Neptune Orient Lines has confirmed that it will join forces with Japan's Nippon Yusen Kaisha (NYK) and Hapag-Lloyd of Germany on the Far East-Europe trade. In a statement issued on Friday but embargoed until

Keppel Cairncross bags five major repair jobs [ARTICLE]

Page 31

Keppel Cairncross bags five major repair jobs SINGAPORE Keppel Corp's new Australian joint venture, Keppel Cairncross Shipyard, has carried out five major repair jobs since April. According to a statement yesterday, the largest vessel among the five repaired at the Brisbane yard was the 104,996 deadweight tonne Australia Ocean, a

30 hurt as union workers clash at S Korean shipyard [ARTICLE]

Page 31

30 hurt as union workers clash at S Korean shipyard Reuter SEOUL Rival union workers clashed over a 58-day-long strike at South Korea's largest shipyard injuring about 30 people, a shipyard spokesman said on Sunday. He said fighting broke out on Saturday after hardline union leaders tried to stop workers

Rescue bid [ARTICLE + ILLUSTRATION]

Page 31

Rescue bid Reuter CHANDPUR, Bangladesh A diver lowering himself into the Meghna river near Chandpur, 100 km south of Dhaka, on Sunday to search for more than 300 people feared drowned when a ferry capsized the day before. Reuter

P&I club to honour US$5m claim [ARTICLE]

Page 31

P&I club to honour US$5m claim KnightRidder LONDON The Standard Steamship Owners Protection and Indemnity Association, a Bermuda-based P&I club, has agreed to honour claims of up to USSS million arising from the grounding of the bulk carrier Sea Transporter off Goa. Lloyd's Intelligence said the P&I club assured the

Daily Freights [ARTICLE]

Page 32

Daily Freights THE Baltic Freight Index for spot dry cargo shipping rates rose to 1,510 on Friday from 1,500 on Aug 18. Rumours appear to be finally laid to rest of Agrex (MSK) fixing a US Gulf-to-Japan Panamax grain cargo on a voyage basis, but other charterers continue to take

THE SHIPPING GUIDE [ARTICLE]

Page 40

THE SHIPPING GUIDE This is a list of ships loading at Singapore for ports around the wodd. It tabulates, by destination, the name of the ship, the shipping line involve! and the estimated dates of arrival and departure from the Port of Singapore. LEGEND PN: ship calls at Penang after

SHIPPING AGENTS [ARTICLE]

Page 45

SHIPPING AGENTS Contninerline NV: Belsin Shpg Agencies Pte Ltd (SyMarine Handling Sdn Bhd (PK/PN). Accoad Group: Accord Shpg Pte Ud (SVAccord Contr Line (PK/PN). Adfcria Business Corporation Philippine Calsource Shpg A Trdg Pte Ltd (S) Atareaktel Liner Service: Kim Shpg Trdg(S). Albntros Sen-Air Service: Frata Shpg Pte Ltd (S). Alfred

COURIER SERVICES [ARTICLE]

Page 45

COURIER SERVICES Abacus Courier* Tel: 545-8011. Fax: 545-1898. Air Expnu Travel Td 533-5771. Fax: 535-6144 Airborne Freight Corporation Tel: 542-8844. Fax: 542-3716. XXXXX80 Ainwil) Worldwide Courier Tel: 278-0188. Fax: 273-8283. AJS Supplies Tel: 748-6322 (2 lines). 747-7421. Fax: 742-8975. City-link International Td: 344-3377. Fax: 345-6450 Cluster link Supplies A Services

AIR FORWARDERS [ARTICLE]

Page 45

AIR FORWARDERS Abex Express Freight Td: 542-7171. Fax: XXXXX84. Actinic Forwarder Td: 225-1833. Fax: XXXXX42. Activair Singapore Td: 542-7822. Fax: XXXXX20. Aeroliak Freight International Td: 545-8033. Fax: XXXXX05. Aerospeed Td: 542-5911. Fax: XXXXX18. Air Cargo Now Express Td: 542-5454. Fax: XXXXX06 Air Express International Td: 542-7666. Fax: XXXXX74. XXXXX50. Air

PORT CONDITIONS [ARTICLE]

Page 46

PORT CONDITIONS ALBANIA ""Durres: Three vessels in port operating of which I loading chrome ore, 1 discharging tiles on pellets, 1 steel coils; 3 vessels waiting in roads of which 1 to discharge wheat flour, 2 bagged cement. ANGOLA Luanda, Lobito, Namlbe: City and port quiet; berth available with no

CRUISE & FERRY SCHEDULES [ARTICLE]

Page 46

CRUISE FERRY SCHEDULES CRUISE SHIPS An Dep Name of Vessel ETA ETD Ports of Calls Port Agenl Telephoae No AUGUST 23 23 Leisure World 1300 2015 Jakarta New Century Tours 227-8284 Corporation 23 23 Langkapuri Star 1600 2030 Penang Jardine Shipping 224-1052 Aquarius Agencies 26 26 Langkapun Star 1600 2030

SHIP SALES & TANKER RATES [ARTICLE]

Page 46

SHIP SALES TANKER RATES AFP AS the month of August progresses we are seeing a continued slackening in the level of interest in general in the sale and purchase market and this is expected to be the case for the remainder of the month and into September whilst many buyers

SHIPS IN PORT

AT CONVENTIONAL WHARVES [ARTICLE]

Page 47

AT CONVENTIONAL WHARVES Wo *W» Anhd PggfcM Vessel Voy Wo Berth Arrival Depertae telu I P04 2308/0900 2508/1200 OtfMhkifi 08/08/94 11 udopm 2308/2300 Baton* top 15A P02 2208/2000 2408/0500 Batarn Item 08/05/94 11 afcx«s* 23.08/2300 Mam Speed A0594* P01A 23 08/1200 23 08/1300 Dm Gun 08/03/94 112 atone* 23.08/2300 Batam

CONTAINER SCHEDULES [ARTICLE]

Page 47

CONTAINER SCHEDULES RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Book int/Balance RsJti Ship Voy No Etb/Btr Ptriod From To From ta Uk 0346 24/1200 1A 22/1500 22/1659 22/1900 IB 22/1500 22/1659 22/1900 2A 22/1700 23/0659 23/0900 3 23/0700 23/1159 23/1400

COCKETT BUNKER MARKET REPORT [ARTICLE]

Page 47

COCKETT BUNKER MARKET REPORT THIS twice weekly report, compiled by Cockett Marine Oil Lid, shows J price ranges in US dollars instead of single prices for a more comprei hensive description of the market. Prices shown are based on average-sized stem. Market movements are i indicated. The Cockett Bunker Price

VERITAS BUNKER QUALITY REPORT [ARTICLE]

Page 47

VERITAS BUNKER QUALITY REPORT Cafea Carttti *1 1» OmR)t Mar RoUw Mi MmMm MmI Only Mfca M NmMun Mbrant t M M M/M Exxon Exxon KG/M*3 V/V M/M M/M PPM method KG/MT3 V/V M/M M/M PPM method Eastern USA 180 Aw 983 13 14.3 0.09 10 0 02 WBw 1Mb

Cultural factor may play a part in air disasters [ARTICLE + ILLUSTRATION]

Page 48

Cultural factor may play a part in air disasters Initial data suggest a possible link between cultural differences and world aviation safety. Don Phillips reports Don Phillips DO cultural and regional differences play a role in world aviation safety? The Boeing Commercial Airplane Group, with some trepidation, has raised that

TRANSPORT DIARY [ARTICLE]

Page 48

TRANSPORT DIARY COURSES Title: Certificate in Logistics Management (SDF case-by-case) Duration: Aug 24 Sep 28 Organiser Singapore Institute of Materials Management 'Feb For more information contact 295-4427 or fax: 298-4012. Title: Sea Transport (SDF 70%) Duration: Aug 24 Nov 30 (14 evenings) Organiser Singapore Freight Forwarders Association Tel: For more

AIR AND LAND TRANSPORT NEWS

Vietnam to expand airport in Ho Chi Minh City [ARTICLE]

Page 50

Vietnam to expand airport in Ho Chi Minh City AP HANOI Vietnam Airlines is planning to enlarge and modernise Tan Son Nhat International Airport in Ho Chi Minh City to handle eight million passengers and 160,000 tonnes of cargo by 2000, an official report said on Sunday. Tan Son Nhat

Tunisia's worst rail crash [ARTICLE + ILLUSTRATION]

Page 50

Tunisia's worst rail crash Reuter KALAA-SYHIRA, Tunisia A policeman standing in front of one of the two trains which collided on Saturday in Kalaa-Syhira, 150 km south of Tunis. Twenty-one people were killed and 89 injured in the worst rail crash in Tunisian history. Reuter

BA to introduce flights between Paris and Rome [ARTICLE]

Page 50

BA to introduce flights between Paris and Rome Bloomberg Business News PARIS British Airways is to launch a service between Paris and Rome, taking on Air France and Alitalia. The move will provide a foretaste of the kind of competition that will become increasingly common in deregulated European skies. BA

Qantas sees profit boost before share float [ARTICLE]

Page 50

Qantas sees profit boost before share float Reuter MELBOURNE Australia's Qantas Airways Ltd expects improved profits, particularly ahead of its As 2 billion (552.2 billion) share market float, as a result of marketing innovations announced recently. Managing director James Strong told the Business Sunday television programme: "I believe that what

Shortage of funds delays opening of Saudi airport [ARTICLE]

Page 50

Shortage of funds delays opening of Saudi airport Reuter MANAMA Saudi Arabia has built a new US$2 billion (SS3 billion) international airport close to the eastern oil city of Dhahran but has yet to open it because no funds had been allocated for its operation, a Saudi newspaper said on

Steam train look-alike lures nostalgic tourists in Korea [ARTICLE]

Page 50

Steam train look-alike lures nostalgic tourists in Korea AFP SEOUL A hybrid locomotive looking exactly like an outdated steam engine made its first "ride-back" trip on Sunday on a South Korean resort line, packed with nostalgic tourists, railway officials said. "All 470 tickets were sold out," said a railway spokeswoman,

New York city issues US$83m bonds for airline terminal revamp [ARTICLE]

Page 50

New York city issues US$83m bonds for airline terminal revamp NYT NEW YORK As part of a programme to renovate ageing terminals at Kennedy International Airport, the administration of New York mayor Rudolph Giuliani has issued US$B3 million (SSI24.S million) in tax-exempt bonds to help American Airlines pay for the

AIRCRAFT ARRIVALS AND DEPARTURES [ARTICLE]

Page 50

AIRCRAFT ARRIVALS AND DEPARTURES a& nm no nm n» MMMnM GA892 0256 GA882 1940 MiMit QF81 1925 QF82 2055 SQ228 2120 Antirte) KL837 1450 KL844 0035 GA893 1510 GA892 0255 KL838 2300 SQ26 2355 SQ348 2250 Asddaad NZ73 1550 SQ288 2045 sqaw. 2040 NZ74 2340 Bahrain GF148 0905 ■■■ipfM MZ222/910

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(westfalia\ SEPARATOR J Always on Course FOR SERVICE AND SPARE PARTS SUPPLY, PLEASE CALL ffOOOOOOd Role of cultural factor in air disasters, Pg 18 Vietnam to expand airport, Back Pg Lines and services represented by Members of the Registry of Accredited Shipping Agents, Singapore National Shipping Association. For advertising enquiries,

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£+2V\±R 7 M R FORWARDING PTE LTD WEEKLY CONSOL TO EUROPE CALL: XXXXX00 EYE ON THE TIGERS Nobody covers East Asia like we do. The Region. Everyday. BusinessEmes mmmmsm

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I import.... I NORTH AMERICA I I OTHER DIBTINATIONB I I NORTH AMERICA I o« »c« «A pal hqusion cwc WT kmco an vtssti sww bunqs ams Mo«ti*wo w« wi»o mnos «*a palima hmww wsai *ot wo los anceus _o«ia» »mcowi a>M -n* MNwiEM M~ 24-29.1 119 iIT IU 111

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OOCL (8) PTE LTD JARDINE SHIPPING AQENCIEB JARDINE SHIPPING AGENCIES SON. BHD. #12-05 SOUTH POINT. SINGAPORE 0206 PETAUNQ JAVA TEL: £7*7776 FAX: CFS: 03-XXXXX42 PR NUMBER XXXXXXXXXX0 C PENANQ TEL: XXXXX4 FAX. XXXXX1 H I DOCUMENTATION TEL: XXXXX55 (INWARO>/XXXXX90 (OUTWARD) ,POH TEL: XXXXX3/4 FAX: XXXXX6 CUSTOMER SERVICE TEL: XXXXX92/XXXXX91/XXXXX93 PGUDANG

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muusssasssm WHEN YOU HAVE TO DELIVER; ON TIME COUNT ON US VtsiC Voy ETA ETO Fmdered by m DESTINATIONS N*xt M* MATHILOE MAERSK V 9408 frI.RJIIHIIWgIWiaiWtTTWHWaim—BBW»IIIIW» 3oam asoo hrs CFS 29/08 2359 MRS JOH LPK PEN OAK |LGB SFO|MEM ATL MIA CHS BAL PHL NYC TOR MATHILDE MAERSK 9408 |30/08|31/08

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r"~™| AOABA RDAM/ li ALSO ACCEPTING FROM VESSEL VOY NO SPORE JEDOAH (VIA JED) S TON H BURG A WERP HAVRE MALAYSIA _KAJ 09/133 24/8 _JO/9_ __13/9_ Port PooaoQ ESSEN EXPRESS 07/333 27/8 5/9 12/9 14/9 17/9 19/9 21/9 Paslr Gudang LA SEINE XXXXX 31/8 17/9 20/9 '8/9 EAST MALAYSIA

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C3ZBB| AFGHANISTAN MAM Afghanistan Ltd., Halratan. Torghundl, islamqala (Doqharun) C.1.5./RUSSIA: Voalochny, Vladivostok, Moacow, Baku, Taahkant, Irkutsk, Alma Ata, Aahgabad, Duahanba, Kia* N Korea: Pyongyang, Nampo Mongolia: Ulaan Bator LCL TO CIS EASTERN EUROPE FULL CONTAINER SERVICE TO NORTH/WEST AFRICA VESSEL SIN DKR Ned Europa V.2294 30/8 28/9 Ned Hong Kong

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I NORASIAI I^SLTVO^^^^^^^^^SlP^^AL^^BC^^VA^^HAS^BR^^RO^^AN^^fellh^l NORASIA SMGA 9433-3 25/08 IS/09 17/09 19/09 20/09 21/09 22/09 26/09 VR.LE DE VELA VO4W 25/08 22/08 1«/ M I NORASIA SHARIAH 9434-3 31/08 23/09 24/09 26/09 27/09 28/09 29/09 31/09 NORASIA RER. 9435-3 05/09 28/09 29/09 28/09 27/09 24/09 25/09 28/09 28/« I NONASIA MUBARAR 9435-3

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H STRAITS SHIPPING PTE LTD 10 Hoc Chiang Road #11-01 Keppd Towers Singapore 0208 Tel: XXXXX88 STRAITS ran VIK Mora. LA. KX 20-22 hut 23 A* 24 Auf FCt.. LCL CONT/UNER AND MCAKBULK UDVKI TO HHM MCW OMNIA STRAITS VENTUK V23C Mora, Lab 25-28 Ku, 27 A* 28 A« CARAKA

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I teVV SINGAPORE AGENT: Ofiifl fIPt > C P&O Containers (Singapore Agencies) Pte Ltd I M 43LV-/ jllllLfllllyl 9 10 Hoe Chiang Road #07-01 Keppe) Towers. Singapore 0206 Tel: 225 2233 Telex RS XXXXX PNOCSP Fax: 225 5327/222 7517 I CR Number XXXXXXXXXX0Z PYDfiltT lUDABT VESSEL WOT 'MM 'KQ MM

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i|A EKA JAYA AGENCIES TEL: XXXXX22 (8 LINES) FAX: XXXXX05 SALES REPRESENTATIVES IN CHARGE I HOCWMMMOTY >*OM INANPRHONK7QWKCT TfHIM iu—M Imm/miiM KOLYICWAN 11—M VftTn'* M,MM IIMHM I IWMHI IMHW I—MUIiM WW 11MMM ITIMWIMH > TO VIETNAM/HCMC CONTA^R-FIKPIR CENTER-POINT Nun, UHw LINES ww n»mg wr tuwcac ti23 a/M-a/M mi 11/tm/M MJHB

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OHANJIN SHIPPING BOOKING TEL:- XXXXX35-237 OPERATION TEL: XXXXX41-253 SALES TEL:- XXXXX30-233 DOCUMENT TEL: XXXXX71-275 FDR VSI SM lUK HAUL SEA TVR POX FOB VSI SN lUK HAOL SAV LM MTC HANJM KAGHSUK 017E 25/8 OBKCT 15/J 1«/J 17/1 HMUN KAOgMK MK 25/8 K PORRM® 0071 W/8 30/J 02/10 HMUN LOMBCACH

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fj l-Ti—l-I—l H A. I 1 J M I 1 I mm BllilHMMAwflKßflilsMlsiSlliiKllisSMlLflMMSHJUMialHHlH Inn lit *c U( u *1 (S Ki SK lit UI CM u nc UK M n I* K n OI n I L (OH KKJ N/1 MPT 21/1 11/ l 2/1 S/9 1/1 7/1 1/1 1/1

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W~2 II SCX: 'CALIFORNIA PEGASUS 24E' ETA SGP 24/08/94 If H II ARRIVING LOS ANGELES 10/09/94 IN 16 DATS S II AEX: 'NEPTUNE PEARL 16E' ETA SGP 24/08/94 II jyr H ARRIVING NEW YORK 17/09/94 IN 23 DAYS ■I I PH|I tip VAN SET ATL CCC CLE CM DAL OCT

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g% MULTILINE SHIPPING PTE LTD ■V (a mooter of SMSOV Grm?) CR NO: XXXXXXXXXX0 C ENQUMES: XXXXX33 BOOK PIGS: XXXXX64, XXXXX51, XXXXX31, XXXXX13 X BALTIC: INHAKD XXXXX97 OUTWARD XXXXX10 T/S XXXXX10 A BLASCO: INWARD XXXXX65 OUTWARD XXXXX21 T/S XXXXX46 FESCO: BOOK PIGS XXXXX99/XXXXX01 DOC XXXXX07 MAR PC INSURANCE: XXXXX87 MVENTORY:

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AS AGENTS: "K" LMI (SlHfiAfOtt) PTI LTD (CI W: XXXXXXXXXX0M/GST KG NO: M2-M1739M) TEL: XXXXX77 TELEX: KAWAKI RXXXXX5 FAX: XXXXX16/7/8/9 V MALAYSIA "K" LMI MMim (MALAYSIA) SON IHO m M TEL: SA XXXXX00 PK XXXXX75 PEN XXXXX0 JB XXXXX1 PGU XXXXX5/6 1 INDONESIA: P.T. SAUUU L/UfT MTEMUSA. TEL: JKT XXXXX08

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@APPENSHIP /g\ HAMBURG InJ Z CONVENTIONAL INDEPENDENT LINER SERVICE EUROPE TO SOUTH EAST ASM AND PAR EAST KSSO.S LOMMNG PORTS DBCHNtGEAOMMG FOR rim—MMMCIM VENTSm.3 (WAN HAM OOAM ANTW 11AM P OUOAMQ ISA* SPOfIE MAW OMMC NOA 16/06 KUUPCDA 24AM HAM MAM SPORE 27AM BKK 02/10 TM VtNTSPILS 16/06 UC 22AM

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PACIFIC INTERNATIONAL LINES (PTE) LTD F l4O Cec Street, #03-00 PIL Building. Singapore 0106. I IBSBSSV CR NO XXXXXXXXXX0E I |-S VESSEL VOY SM CMB JIB MOO JED AOJ ADE PZU MSW ASA J I I KOTA BERANI 8RN079 31/» S/9 12/9 W» 19/9 19/9 13/9 19/9 22/9 f I

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KSStIS VOT If HOWtt HWUIC THAMIS QOTTERPIW AWTIHHf wlu pi vu« io4w tt/oo i«/oo io/oo io/oo wn 22/ M Vtu Dt tITOW TOSW 30/0» 21/00 23/09 24/08 25/00 27/00 W.LE Dt TUCAMA MOM 04/00 2»/M 30 OT 01/10 02/10 04/10 Will Dt 11* 105W 05/10 07/10 00/10 08/10 11/10 •ALSO

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MYANMA \QBBk FIVE STAR LINE (Myanmar National Line) Loading for Yangon (Rangoon) Spore P.KIf Pen P.Gd| SAGAMG V36W M PORT HP*.AN V2O4W 02/04 S«p 04/0 C Sap MYOMAYWA VIS3W 02/04 S*p 05/01 S«p MALATSM AGENTS 00USTEAD SHTPWG AGENCCS RUL. TEL 03-XXXXX00 PKL TEI 03 3(4(7(7 PEN. TEL 04 (1(13$ POD

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P^HHH^H"7!EW!ervi3l| I yO R |j I OMMMf JINIK ractja SHIPPING PTE LTD W XXXXX00 Sties/Booking: Agitcy Dept: tZT oSrnZm lSmVtFoo r XXXXX66 Container: XXXXX41/844 ContainerStc B/L*XXXXX02 Operation Container. XXXXX15 rr o Totac XXXXX COSHIP Conventions/: XXXXX50 D/ 0: XXXXX85 Convention*!: XXXXX46 >; ll»»in 0100 CINteJITjWOQOO F 22(2201 Brt*kMk Sue Okk

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FOR BOOKING 1800-XXXXX00 (TOLL-FREE) outbouno pkl pen «h sw mc mo tai hee to* tkt _nag os* —mw Bj|S_ «W WU ?21/MOO7 76/08 77/08 29/00 30-31/08 04/09 05/09 07/09 0«/W WAN Ml 703/N067 27/01 2778/08 01/OT 07/09 04/09 05/09 11/09 l*/W '3/09 13/ WAN HAI ?13 NOl3 jI/08 XXXXX 04

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FAMOUS CONTAINER LINES 10 ANSON RD. #15-21 INTERNATIONAL PLAZA, S PORE 0207 HOT LINE: XXXXX33 (24 LINES) GOTHENBURG/SCAN 29/8 ROTTERDAM 29/8 JURHUS/COPENHAGEN 29/8 HAMBURG/BREMEN 29/8 MARSEILLE/FRANCE 30/8 FELIXSTOWE/UK 29/8 BARCELONA/SPAM 29/8 LEHAVRE/FRANCE 24/8 GENOA/ITALY 29/8 ANTWERP/BELGIUM 29/8 LOS ANGELES/WC/PI 28/8 SYDNEY/MELBOURNE 26/8 NEW YORK/EC 7 28/8 FREMANTLE/ADELAIOE 25/8 VANCOUVER 24/8

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«N jkt r WAMA MIUM *y? Iss SLS! DCJA BNUM 4U7 Frt M/t Sal 17* KBIyEBB CL VOY WW KK 1 IBWA BHUM W Frt M* T— M* IfftTrt MMfl ~TT~ M YAMTWA BHUM 4Mi Two In W ~Ffii IB* BHATRA BHUM 448 Bot 17* Tm IB* M> |v| B

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WrWnff ww^ |MW6KOK/UOI CWaWC/LMB|a/« (TWO. 27/8 (SAT). 30/1 (TOE) POIT KLMK/fPIWK 2S/8 (THQ. (FN) HOWC KOW6 (FN), 30/1 (TOE) MUM 27/1 (MT) imm/cau/aBC BAT »/«(RE). 30/«(nt) ho cw w« wt arm smmn n/t am IBUSAW 2s/j (sm m hp it m m m mm MKMO MM n/t M/l L/ 1

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H TEL: XXXXX33 (12 Lines) I }SLI FAX: XXXXX15/XXXXX03 I HJ| TELEX: RS XXXXX RISHIP (3 Lines) I CR NO.' XXXXXXXXXX0E I Viml V«f STA iLaadteg Par I Abbty Worn 40WB inPI Momtoaar Pptooutt I Abbay Warn" 41WB 20/10 I niXY OOtfTAPTKEISED REGULAR LINER SERVICE I iccgmw KCT ftX/LCX AIM

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I PtN PKL SJN 5 SMLM6S/NEEK P€N PK SIN 17/8 18/8 19/8 HKG/BKK/KEE/KHH GMoa/B*c«tona/»»*MiOT 22/8 23/8 24/8 19/8 20/8 21/8 HKG/BKK/KEE/KHH 6*bw|/C haf«n/S'bolm/(hio 21/8 22/8 23/8 j nM VBFfflVlNfi m /m /KW m Ldn/Fh/Rtm/Ant/Ham/L«h 21/1 22/8 23/2 HONQNOMQ/BANQKOK/PUSAN JPN/KOREA/MANILA > tSUtStHSGSXSF*- QUOAN Mania/Cebu 17/8 18/8 19/8 KEELUWO/XAOHSIUNQ Tokyo/Hobs/CHa/Yoko 22/8 23/8

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SEAWARD SNIPPING AND I TRADING CO (S) PTE LTD in in ft* Wm Nil HUNG ft kmc Ml MH 30/8 »/l lMd«t tw Mate RMN HUDHU 30/1 lMdH| to» Mm DOUMR 12 n ImA* For M* rami mm \n la*** for Ifah X/l Lm4*| For M* HUOUS IBM IT »/S

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JS-v THONG SOON UNES PTE LTD 1 I 78 SHEHTOH WAY #1001. SMGAPORE 0207 I I Ttt: 227-5088 FAX: 227-6011 I I TLX: RS XXXXX CARRER, RS XXXXX JENHOL CABLE: TOSOCO I SINGA EXPRESS SINGAPORE TO SARAWAK SINGAPORE TO"SIANP VESSEL VOY_ S p ORE DCST ftSSEL WT STtK MKMI EQUATOR

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o o o o o I LEAD BY EXAMPLE -4. For some of the best examples of good management Enterprise Management. Every Monday. Business Times I

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79 ANSON ROAD, #21-01, SINGAPORE 0207 TELE; XXXXX92 FAX; 228H67 CW XXXXXXXXXX9N STRAITS SHUTTLE SERVICE SINGAPORE/PORT K LANG/SINGAPORE SINGAPORE/PENANQ/SINGAPORE Vtssa VOY SX PKL VESSEL VOY SX PEN MCC COWVEYOR 9437 24/8/94 (HID) 26/8/94 (FW) MCC COWttYOR 9437 24/1/94 (WED) 26/8/94 (FW) VIGOUR SXGAPORE XXXXXW 26/8/94 (FW) 2S/S/94 (SIN) XOUR JAY*

Page 48 Miscellaneous

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TODAY'S TIDES (height in metres) I 1 HOUt 0000 0100 0200 0300 0400 0500 0600 0700 OSOO 0900 1000 1100 1200 1300 1400 1500 1600 1700 1100 1900 2000 2100 2200 23(1 11 2.9 2.6 2.0 1.3 0J 0.5 0.4 0.5 0J 1.5 U 2.S 2.6 2.5 2.0 1.4 0.9

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▲HYUNDAI I MERCHANT MARINE CO. LTD. WESTBOUND TO EUROPE BKG: XXXXX61 I WW* PKE* P6D* VESSELS VOY SIN MM AWT* LEH* HAM BREj I FEL 124/08 2S/0I 27/01 H. FRONTER 312* 29/ OS 16/09 18/09 19/09 18/09 18/09 20/09 31/01 02/09 03/09 SI FREEDOM 312* 05/09 23/09 25/09 26/09 25/09

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STRAITS/ JAPAN/ STRAITS SERVICE SPECIALIST IN RO-RO HEAVY LIFTS WBOUM) VESSELS VESSEL VOt Sf I* KUC U MIM KT TANJUNCEMAS ORANGE SIT 23 H/l l/» 4/9 </» TANJUNCPHIE 15 27/1 till OUTBOUND VESSELS SP DUMAI 28/8 MV Tanjung Knuu V» SP PK/KUCNtNC/KK 31/8 MV Oram* Sky V 23 (RORO) IMLintermaritime

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VESSa I VOY Is* ETA/0 I LAX 1 OAK ICH 1 DAL MEM/COL HOU NYC 1 NOR HEKY HUDSON BRPGE 77A 25/01 11/09 13/09 14/09 15/09 15/09 16/09 16/09 17/09 ALLBATOR VICTORY »A 01/09 18/09 20/09 21/09 22/09 22/09 23/09 23/W 24/09 MACKBWC BROGE NA 01/09 25/09 27/09 2R/09 29/09

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:=>@+|"_~./>|/(!":\?&&'|+=<`$:- -m KIMTRANS&mM—\ P CARPENTARIA l?»00A Beach Road, #08-301/302. Ijfhe Plaza Stoflapore imM Accepting Heavylift Breakbulk SOC to from MANILA SUBIC BAY Direct Enquiries Bookings S'por* Tal: 294 5022 Ext 227 Fax 297 1930 K.L. Tal: (03) 731 6842/3/4 Fax (03) 731-6860

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