The Business Times, 12 September 1987
1987-09-12
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The Business Times
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Title Section12 1987-09-12 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, September 12-13 1987 75 CENTS12 words
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Article, Illustration189 1987-09-12 1 Exchange rates THE S$ closed weaker at $2.0910/20 ($2.0880/90) against the US$ on tile forex market here yesterday. It also finished lower against the M$. HK$, DM and yen. US$: 141.60/70 yen, 1.8045/55 DM, S$2.0910/20 US$1.6480/90 M$: S$0.8317/24 Overseas markets Friday HK Hang Seng Index 3660.50 59.54189 words
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529 1987-09-12 1 ANNA TEO - Difficulty finding older workers willing to do the job By ANNA TEO WHILE SOME EMPLOYERS have begun opening their doors to older workers, one company has been looking to the other end in its hunt for production workers. Foster Electric (S) Re529 words
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477 1987-09-12 1 Bernama ES TRADING through Singapore should not be made out to be such a wrong, according to Intisari Dagang, a monthly publication of the Malaysian Ministry of Trade and Industry. "Ideally, it would be in Malaysia's interest to trade directBernama ES - 477 words
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139 1987-09-12 1 Reuter THE LATEST political turmoil and labour unrest in South Korea have forced foreign buyers to switch their purchases to Taiwan, according to an official. "The switch of purchases by foreign importers has offset some of the adverse impact on an appreciationReuter - 139 words
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464 1987-09-12 1 AP A PLUNGE in US exports helped propel the country's trade deficit to a record US$l6.5 billion in July, the fourth monthly increase in a row. The Commerce Department said yesterday that the widening of the gap between exports and importsAP - 464 words
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Article, Illustration190 1987-09-12 1 SHARE PRICES recovered a little on some bargain-hunting with selective blue chips posting dou-ble-digit increases in very light trading yesterday. The market opened quietly and trading was lethargic throughout the day. Most investors kept to the sidelines due to the absence of190 words
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Page 1 Advertisements
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Advertisement273 1987-09-12 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM m AIRLINES and travel agents handling traffic along the Kangaroo Route' are jumping ahead to solve the peak season headache by adding extra flights and encouraging passengers to book early this year. HOME NEWS, Page 2 ENCYCLOPEDIA sales in Singapore are estimated to be273 words
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Advertisement15 1987-09-12 1 More Malaysian stories on back page. IMF expects modest growth for world economy, Page 315 words
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Advertisement167 1987-09-12 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM Kick to start, twist to go Page 9 PtPit—l TrMa Childhood of a neurotic hack Pag* 9 Nothing fishy about Omega-3— Page 10 WMkMNI TV TV programmes for today and tomorrow Page 10 Pm ta watck Chaplin, Jhabvala and Miss Marple Page 10 Hot167 words
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HOME NEWS
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Article, Illustration527 1987-09-12 2 LIM SOON NEO - By LIM SOON NEO AIRLINES and travel agents handling traffic along the Kangaroo Route' are jumping ahead to solve the peak season headache by adding extra flights and encouraging passengers to book early this year. For the peak season from November to527 words
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Article500 1987-09-12 2 WILLIAM CHIA - By WILLIAM CHIA LOCAL FOOD and beverage manufacturers were urged at a seminar yesterday to turn their attention to new food markets abroad. Besides the United States and Japan, exporters should also tap further the potential in Australia, New Zealand, the United Kingdom and500 words
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Article87 1987-09-12 2 A NEW housing estate, the Housing Development Board's latest and one of its smallest, is coming up at Sims Avenue. Kembangan Estate will be bounded by Jalan Oaud, the Pan Island Expressway. Lengkok Tiga and Sims Avenue East. A mix of 16 blocks of87 words
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314 1987-09-12 2 DMB B lands advertising account for Marina Square MARINA SQUARE'S push to become Singapore's premier shopping centre has landed advertising agency D'Arcy Masius Benton and Bowles (DMB B) a $1 million account. Marina Centre Holdings, developer and manager of the 59,000-sq-m shopping complex, has appointed DMB B to handle advertising314 words
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Article89 1987-09-12 2 THE MINISTRY of Finance has appointed Mr Tan Boon Chiang, president of the Industrial Arbitration Court, as chairman of the Valuation Review Board for a term of three years. Mr Tan's appointment took effect on Aug 6. according to the latest government gazette. The former chairman89 words
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Article, Illustration265 1987-09-12 2 DAVID NG has been appointed general manager of Atochem South-east Asia Pte Ltd. He takes over from Louis Yeap. Mr Ng is a graduate from La Trobe University, Melbourne. P N S 3UTCH and MICHAEL LEE have been named managers, business development, of Hongkongßank. Mr Sutch, who265 words
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Article1104 1987-09-12 2 AT CONVENTIONAL WHARVES VmnI B«1h Arrival Departure KEPPEL WHARVES Ah Dedication K15 alongside 1309/2300 Donyong IC35 alongside 1209/0600 Glob Uronus IC» alongside 12 09/1800 Koto Wijoyo <32 alongside 14 09/0600 Mioolengshon •C29 alongside 13 09/2300 Protiwi K19 alongside 12 09/1200 Son luis KI6 alongside 13 09/2300 Saudi1,104 words
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Page 2 Advertisements
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Advertisement158 1987-09-12 2 Welcome to the new comforts of home There are changes in the air at Hotel Equatorial Kuala Lumpur. Most fSB' important is the total make-over in our rooms and suites, now in a modern, contemporary style that's *V_, charmil Jg V A new refreshing look greets you at our lobby.158 words
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Advertisement10 1987-09-12 2 WORLDWIDE EXPRESS Prompt pick-up and delivery 24 hours a day10 words
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Page 2 Miscellaneous
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Miscellaneous86 1987-09-12 2 WZIMh Z/S'M Singapore OUTLOOK: Showars over Mnril areas In Raport for 24 how prior to 7.30pm on Sap 11 of the oirport: Mai tamp 31.» Aaaoc humidity 70 Mln tamp 24.5 Aaaoc humidity M Hra of aunahina I.M Rainfall In mm 1J Rainfall this mth 46.5 Rainy days this mtfi86 words
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OVERSEAS
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Article, Illustration401 1987-09-12 3 Reuter TWO DOZEN CHEFS who normally pamper the palates of the powerful have turned their talents to charity. Le Club des Chefs des Chefs d'Etat the Club of Chefs of Chiefs of State held a summit meeting in New York recently in the two-storeyReuter - 401 words
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Article887 1987-09-12 3 ARRIVALS Operator S*rvic* Local From number tfcrw SU SQ11 0045 IAX/NRT UA UA805 0045 SFO/HKG MAS AAH621 0140 KUL CAL 0333 0405 TPE SIA SQ41 0615 MAA MK AAK746 0730 MRU SU SQ411 0820 BOM MAS AAH681 0820 KUL SV SV398 0835 JED/RUH KAL KE624 0840 KUL887 words
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200 1987-09-12 3 Reuter THE United States will give Israel US$3OO million during 1988-89 to compensate it for closing down its Lavi warplane project, Israeli Finance Minister Moshe Nissim said on Thursday. Nissim told a trade study group he was told of theReuter - 200 words
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514 1987-09-12 3 ECONOMIC ACTIVITY in the non-communist industrialised world should continue growing at a modest pace till the end of 1988, a semi-annual report from the International Monetary Fund says. The IMF semi-annual world economic outlook has been distributed to member governments, but not made514 words
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222 1987-09-12 3 AP AFP MACHINE-BUILDING, a vital Soviet sector on which the success of leader Mikhail Gorbachev's economic reforms largely depends, is seriously lagging behind planned targets and the gap is widening with every month, a Soviet daily said on Thursday. The machine-building industry is oneAP; AFP - 222 words
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Page 3 Advertisements
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Advertisement59 1987-09-12 3 fI 1a 1a \j\ IFI The business person's choice, every I I llc'l II 111 I Tuesd °V' Thursd °y. Saturday and I a\ I I a Sunday. Leaving Changi Airport at J_ 1 _L 22:05 hours and arriving at Lester B. Pearson International Airport the following day Call your59 words
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Advertisement46 1987-09-12 3 4*o H, n~" 1 V r 4 Nw 0 V V ■-.-*<■?%+.-.. PLE TEMPS CHANEL GOLD PLATED WATCH 10 CT 20 MICRON GOLD EMERALD-CUT CRYSTAL CHAIN BRACELET INTERWOVEN WITH BLACK LEATHER MADE IN SWITZERLAND INTERNATIONAL GUARANTEE EXCLUSIVELY AT THE CHANEL BOUTIQUE ISETAN, WISMA ATRIA. SINGAPORE. TEL: *****2146 words
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COMMODITIES
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636 1987-09-12 4 AP ASIAN nations are plunging into battle with US farmers in an oil war trying to blunt an assault led by the American soybean industry against Asian palm and coconut oil. Producers in Malaysia, Indonesia, the Philippines and other Asian countries haveAP - 636 words
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467 1987-09-12 4 AP THE US soybean, cottonseed and sunflower oil industries urged Congress on Thursday to force more explicit labelling of Southeast Asian coconut and palm oils in processed food. The US industries contend the labelling is necessary because palm and coconut oil contain saturated fatAP - 467 words
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Article, Illustration713 1987-09-12 4 Reuter INDONESIA is opening up large tracts of rainforest to gold prospectors in the hope of becoming one of the world's biggest producers within a decade. In the Kalimantan region of Borneo island, thousands of wildcat miners from all over Indonesia are competing in theReuter - 713 words
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Article280 1987-09-12 4 Chinese Produce Exchange Sellers' noon doting price* on Sop 11 (SS/100 kg) Coconut oil Bulk FOB 95.00 Old drum FOB 105.00 New drum FOB 109.00 Copra Mixed (loot*) 56 Pepper Muntok wWte FOB NIW 1317.50 Sarawak white FOB foq NIW 1302.50 Sarawak spodal block FOB NIW 985.00 Sarawak280 words
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Article224 1987-09-12 4 HONGKONG: The metal closed lower yesterday on profit-taking by local speculators in moderate trading. Bullion closed at US$46l 50/462.00 an ounce, after touching a high of U*****.85. and that compared with New York's final U*****.80/463.30. The Krugerrand closed HK$3O above its finish here on Thursday at HK53.595 (U*****.00)224 words
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Article336 1987-09-12 4 London Commodity Exchange Buyer/Seller closing prices on Sep 10 (£/tonne unl less specified). Previous closing prices In porenthesii Coffee Basis io-itof* London, sellers option CIF London Sep 1291/1293 (1300/1305) High/Low 1310/1291 Nov 1329/1330 (1334/1335) High/Low 1344/1323 Soles (2906) Cocoa Sep 1169/1173 (1166/1167) High/Low 1174/1170 Dec 1205/1206 (1200/1201) High/Low336 words
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Article207 1987-09-12 4 SINGAPORE The market closed firmer yesterday with October One RSS buyers quoted at 218.50 cents a kg, up one cent from Thursday's close. The morning market ended 0.25 cents higher, as its initial rise of about one cent on firmer Tokyo advices and short-covering interest was pared by some207 words
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Article260 1987-09-12 4 RAS prices in S cent»/kg, FOB in bale* NOON CLOSE Buyers Sellers Buyers Sellers Int 1 RSS Prompt 221.50 222.50N 222.00 223.00N Int 1 RSS Oct 87 218.00 218.50 218.50 219.00 Int 1 RSS Nov 218.00 218.50 218.50 219.00 mt 2 RSS OP 217.00 219.00N 217.50 219.50N260 words
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Article80 1987-09-12 4 (cents/kg, 1 -'o" pallets) OCTOBER 87 NOVEMBER 87 (current month) (forward month) NOON NOON RAS Buyers Sellers Buyers Sellers SSR 20 203.00 205.00N 203.00 205.00N SSR 50 201.50 203.50N 201.50 203.50N MRELB Buyers Sdton Buyers Sellers SMR CV 264.50 266.50N 265.50 267.50N SMR I SMR 5 264.5080 words
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Article92 1987-09-12 4 CRUDE OIL markets were strong in Tokyo yesterday but weakened sharply when London trading began. East Asian naphtha firmed considerably in thin trading as players preferred to observe the outcome of the Opec meeting. Fuel oil was actively traded but gasoil remained quiet and stable Dubai (Oct)92 words
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Article100 1987-09-12 4 THE PRICE of tin on the Kuala Lumpur Tin Market (KLTM) closed a cent higher yesterday at M 516.89 per kg from Thursday on increased activity. Buyers bid 175 tonnes at the start of the market while sellers offered 120. A one-cent price rise saw buyers back off,100 words
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Article470 1987-09-12 4 Crude palm oil futures closed steadier yesterday at the KLCE in slightly active trading. The market opened unchanged but thereafter rose on shortcovering activities. Sentiment at the exchange was firmer following India's purchase of six parcels of RBD palm oil at its weekly tender. The market was also470 words
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Article204 1987-09-12 4 SOYBEAN FUTURES on the Chicago of Trade rallied late to close 4% to seven US cents higher in moderately active trading on Thursday. November closed up 5% cents at U555.25!4 as the market finished on or near session highs A late rally in soymeal led prices up from more204 words
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Article198 1987-09-12 4 WHEAT FUTURES on the Chicago Board of Trade closed up to 2% US cents on Thursday, with September off V* cent, in moderate trading. December closed up cent at U552.96% a bushel. Trading slowed ahead of the day's USDA crop report A late rally in the soy complex lent198 words
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Page 4 Miscellaneous
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Miscellaneous88 1987-09-12 4 Doonesbury RACIAL seusrnvny, 1987. YOU KNOHI HOMARP, I THINK m rn a u 1:1 I hi mr.» Hl v I OPPOSBOm VOTING RIGHTS BILL, 6UTTEP AFFIRMATIVE ACTION, SUPPORTEP TAX BREAKS RKS&R£GAJK> GoU£6t£, ALLBUT PfSMANTieP Vie CIVIL RIGHTS COMMISSION... neat £51 am P5 lil I n I i FT, > ft'.V—88 words
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BANKING AND FINANCE
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Article579 1987-09-12 5 DECEMBER Eurodollar opened two ticks higher yesterday at 91.64 and traded narrowly between 91.64 and 91.67 as market participants were sidelined ahead of the release of US data The minor resistance at 91.67 presented further gains. Liffe opening saw the December contract remain in the narrow range before ending579 words
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Article140 1987-09-12 5 Gold futures on Sep 10 100 troy ounces: USS per troy ounce Opon High Low Sottlo s«p 459.50 459.50 459.50 463.10 6.20 Oct 462 00 467 00 461.30 464.90 6.00 Nov 466.90 5.10 Doc 468.00 472.00 466.70 470.60 6.10 Fob 88 474.50 477.50 474.00 476.90 6.20 Apt140 words
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Article843 1987-09-12 5 SINGAPORE: The US dollar closed mixed yesterday against most major currencies compared with New York's levels, after trading within a narrow range. Some short-covering by Japanese operators in Tokyo helped the dollar firm slightly against the yen. Trading volume was thin because most operators avoided taking large positions843 words
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Article998 1987-09-12 5 CURRENCY FUTURES OPTIONS IMM Thunday, K CD a o BRITISH POUND £25,000; c ante par Prle# Sap-c Oct-c la Dac-c fv OcH> Dac-p 1575 6.40 6.95 0.20 0.90 1600 4.15 4.65 5.10 0.50 1.00 155 1625 2.40 3.05 2.60 1.20 2.40 1650 1.25 1.95 2.40 2.50 3.10 3.65 1675998 words
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Article86 1987-09-12 5 Treasury bills N Period Issue Yesterday's closing Day's code Maturity BID Of FEB HIGH LOW 3 months 6 months 1 year BQ*****X BS*****Z BY*****S 10.12.87 3.30 21.01.88 3.38 30.06.88 3.48 3.25 3.33 3.43 3.33 3.31 3.46 3.44 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing86 words
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Article, Illustration191 1987-09-12 5 Indicates the average of the prime lending rates of 12 ma)or banks in S'pore Interbank market rates (offer/bid) on Sep 11 7 doyt 1 m#» 3 mft> 12 «»ft» us$ 7 1/4 l/i 7 1/2 3/i 7 9/16 7/16 8 1/16 7 15/16 8 J/i l/J 9191 words
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Article65 1987-09-12 5 THE OVERNIGHT RATE on the Singapore interbank market rose three points yesterday to end at 3ft per cent The one-month term rate fell !4 point, the two-month fell 1/16 while the three-month was unchanged S$ Interbank rates at 7pm yesterday: omt 10 3 1/2 3 1-moMtt 4 3/1665 words
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Article262 1987-09-12 5 Asian market ASIAN DOLLAR deposit rates closed steady yesterday at its lower opening levels, in quiet pre-week-end trading. Most operators were sidelined and unwilling to take fresh positions as they awaited the release of US July trade figures. Short-dates weakened between 3/16 and 1/4 point at the outset because of262 words
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497 1987-09-12 5 MBT THE MALAYSIAN banking system has been urged to develop a network of economic data to help entrepreneurs identify productive activities in which they can compete effectively in the international market. Making this call on Thursday, Deputy Finance Minster Senator Mohd FaridMBT - 497 words
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231 1987-09-12 5 Reuter EUROPEAN COMMUNITY (EC) finance ministers will probably agree this weekend to strengthen their hand against currency speculators by reforming the system which steadies the value of eight European currencies. But EC monetary sources say that any reforms of the European MonetaryReuter - 231 words
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Page 5 Advertisements
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Advertisement155 1987-09-12 5 Treat your family to a sumptuous buffet lunch at the Chao Zhou Garden Restaurant. A delectable spread of Teochew provincial dishes and dian xin accompanied by desserts Dehciously wholesome And different. Eat all you can for only 11.50+ per adult and $9.50+ per child. Available on Sundays Public Holidays. S[x't155 words
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Advertisement169 1987-09-12 5 i| yilmiwniiy^p[g s» $2,899 Set/4 Rosewood Carved Dragon Sofa Set ■m i w. m x~ i.V 5= Rosewood /799 72" Sideboard w/MOP inlaid Shop with confidence at Singapore Handicrafts. Singapore s largest and longest established Rosewood/Blackwood/ Tianjn Carpet centre FuSy air-conditioned 30.000 sq ft showroom. Widest chowe plus continuing new169 words
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WORLD MARKETS
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335 1987-09-12 6 FT BRITANNIA ARROW Holdings, the financial services group, is to buy County Unit Trust Managers. National Westminster Bank's unit trust business, for £41.5 million in cash. The deal was sealed on Thursday after Nat West had evaluated bids from about 10 otherFT - 335 words
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Article977 1987-09-12 6 New York Reuter THE NEW YORK stock market closed higher on Thursday in a session dominated by bargainhunting. Firmer dollar and bond markets encouraged the buying, traders said. But lingering concern about the July trade deficit due to be reported yesterday morning gave the action a cautiousReuter - 977 words
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209 1987-09-12 7 NYT THE AMERICAN financier Kirk Kerkorian will be reentering the gaming business by buying the Desert Inn Hotel and Casino and the Sands Hotel and Casino in Las Vegas from a company controlled by the estate of the late billionaire Howard Hughes. InNYT - 209 words
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Article176 1987-09-12 7 Reuter I THE SECURITIES Exchange of Thailand Index rose 3.60 to a new peak of 382.01 yesterday on a turnover of 6.58 million I shares valued at 937.27 million baht. Reuter 11 BAMT Ao Kham Thai 220 14 Ayudhya lnve»tm«nt 396 2 Bangkok Agro-lnd Bangkok Bank 375 8 BankReuter - 176 words
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Article95 1987-09-12 7 AP ROLLS-ROYCE PLC. the airplane engine maker which the UK government sold off earlier this year, said its pre-tax profit gained 13 per cent in the first half of 1987 over a year ago. However, its net profit slipped 2 per cent because of higher taxes.AP - 95 words
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Article1325 1987-09-12 7 Selected indices HONGKONG All Industrials Hongkong Index Fridoy 2406 09 Friday Thursday 3246 5 3231 9 Thursday 2367 62 Week ogo 3233 1 Wm4 ogo *****1 NEW YORK Hang Seng Index Fridoy 3660 50* Dow Jones *****5 Thursday 3600 96 Thursday Weak ago 3654 48 Wednesday 2549 27 Week ogo1,325 words
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Article36 1987-09-12 7 UPI KOMATSU LTD of Tokyo, the world's second largest integrated manufacturer of construction machinery, has agreed with Samsung Shipbuilding and Heavy Industries of South Korea to expand their bilateral technological partnership jjpjUPI - 36 words
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800 1987-09-12 7 London Reuter SHARE PRICES in London were quietly mixed in quiet early business yesterday as investors held back ahead of the announcement of US trade figures for July. A strong gain on Wall Street overnight gave stocks in London a slightly firmer tone initially,Reuter - 800 words
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693 1987-09-12 7 Hongkong DBS Securities HK Reuter SHARE PRICES in Hongkong closed sharply higher yesterday with the Hang Seng Index at another record, but heavy profit-tak-ing trimmed the gains. The Hang Seng Index finished the day 59.54 points higher at 3.660.50 after surging moreDBS Securities HK; Reuter - 693 words
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Article398 1987-09-12 7 Reuter SHARE PRICES closed slightly higher in moderate trading yesterday on buying of export-oriented shares, prompted by Wall Street's advance overnight and a steady dollar. The Nikkei Average rose 33 03 to 24.828.27 but had risen to 24.896.14 earlier. Volume rose to 850 m from 550 m on Thursday.Reuter - 398 words
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Article390 1987-09-12 7 THE AUSTRALIAN share market rose sharply yesterday. recovering much of this week's losses. Brokers said a US$6 20 rise in gold prices boosted demand for mining stocks. At the close, the All Ordinaries Index was 21.7 points higher at 2.206.7 and the All Industrials Index was up 14.6 at390 words
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Article266 1987-09-12 7 SEP 11 Ml Si near* Indus *T 425 -0 00 •cbc <o»in Kuoctvan Oav Laa Chang Yuan Cham Indus 221 00 40 50 47 00 4 0 7 -03 40 10 1 Uth«y Cons ;tvang Hwa Bank 92 50 2M00 unch Ltan Mwa Indus Nan Ya Pias Paeifcc Cons266 words
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Page 6 Advertisements
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Advertisement923 1987-09-12 6 V' 'J! at ft a W I hiiwih *****1111 «gRs *r&m !3 mm r--0 m Hong Kong Dian Xin on Saturdays, Sundays and public holidays c* Enjoy 27 selections of fine Dian Xin delicacies, prepared by chefs from Hong Kong, using only fresh, quality ingredients from 11 am to 3pm.923 words
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Advertisement294 1987-09-12 6 Singapore Airlines and Mandarin Singapore present ASIAN GOURMET FESTIVAL 27 August to September 13 1987 A one-stop tour of the food, fashion and culture of seven countries. At The Mandarin Hotel Reception Hall (5 th floor, South Wing). Special performances Thailand: September 11 to 13 Cultural dances. Lucky Draw! All294 words
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Page 7 Advertisements
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Advertisement529 1987-09-12 7 fWSEmBMm^E in f •o 1111 I J I Sunday Brunch: A great family outing. Ifs a wonderful way to combine a late breakfast with an early lunch on a lazy Sunday. Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roast... right through to pastries, puddings,529 words
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Advertisement8 1987-09-12 7 Easy Every Friday Section Two The Straits Times8 words
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LETTERS TO THE EDITOR
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Article522 1987-09-12 8 WHEN THE South Australian capital city of Adelaide staged its first Formula One motor racing Grand Prix two years ago, they had a ball. When the smell of burning rubber had left the air. the city discovered that the event had helped pump more than As4o522 words
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396 1987-09-12 8 Certified Public - Certified Public Accountant (Practising) Dear Sir As a practising Certified Public Accountant, I was surprised at the speed with which the Finance Minister moved to take up Mr Chandra Oas's proposal to rotate auditors of public listed companies every five years. Dr Richard Hu396 words
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626 1987-09-12 8 Housing Development Board headquarters: clarification of the facts and figures Dear Sir We would like to point out the inaccuracies in the report titled "New HDB headquarters to cost $150 m" on Aug 5, 1987, by your Property Correspondent, Mr Lee Han Shih. The statements "the cost of the project626 words
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117 1987-09-12 8 Dear Sir Mr lan Gan's letter on the rotation of auditors (BT. Sep 5-6) contained the following sentences: (a) "The rotation of auditors, especially for a large group of companies as pointed out by those against rotation would certainly involve additional costs by the incoming117 words
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538 1987-09-12 8 Dear Sir I refer to the report "Electrical engineering grads are top earners" and the accompanying statistics on the value of a degree (BT, Aug 22-23). Though one cannot dispute that the average starting salary of accounting graduates is a538 words
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325 1987-09-12 8 John C L Teo - John C L Teo Managing Director Ptapak Manufacturing (8) Pie Lid Dear Sir i I refer to the July 27 article "Plastics industry faces severe i shortage of raw materials" and I the subsequent reply from the Economic Development Board j325 words
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Article123 1987-09-12 8 Dear Sir The recent decision by the Comptroller of Income Tax that gains from investments in stocks and shares are to be treated as income, and not capital gains, has affected the investment companies listed on the stock exchange. It would be enlightening if the123 words
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Article102 1987-09-12 8 D W Distant - D W Distant Dear Sir The new settlement procedures for purchases on the SES as stated in the SES leaflet mention that the buyer "must pick up and pay for your shares between 3pm on the day following the due date of the contract and 12.30pm102 words
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Article122 1987-09-12 8 Thia Ah Bah - Thia Ah Bah Secretary for and on behalf of Jurong Shipyard Ltd Dear Sir We refer to Mdm Lee Sui Fong's letter in your Weekend Edition (Sep 5-6). The basis of allotment was decided after careful consideration by Jurong Shipyard Ltd and the vendors of the122 words
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551 1987-09-12 8 Dr Lee (Tsao) Yuan - Dr Lee (Tsao) Yuan Department of Economics ft ClalUHna OIatISDCS National University of Singapore Dear Sir I refer to the report titled "East Asian NICs not a threat to Singapore" which appeared in BT (Friday, Aug 28). The findings of my paper have been grossly551 words
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Page 8 Advertisements
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Advertisement44 1987-09-12 8 BT welcomes letter* from readers. Your letters must include your signature, full name, address, and home and office telephone numbers, if any. You may add a pseudonym, if you wish. Address your letters to: The Editor, Business Times, 390, Kim Seng Road, Singapore 0923.44 words
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Page 8 Miscellaneous
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Miscellaneous765 1987-09-12 8 CRYPTIC PUZZLE ACROSS 9 I can do nothing better than you! (4, 5) 10 The dog having been given a walk, had a beer (8) 12 Fix the time and the quantity (4) 13 Holding, perhaps, something wrapped in brown paper? (6) 14 What the neurotic dog did? (7) 15765 words
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Miscellaneous42 1987-09-12 8 It P"\£FV4S TMmGS 5 SIGM x; P>R£ BPvCK TO NORmft L.. FUDGE <S BPICK Ff?on 7| 1 HIS MOUDPfVS J-v f^pj ©Evening Standard Co Ltd 1962 19»7 HPsCD HPfT. 600<T0SliP DOU3N Tue Bp\CK OF my TROUSERS. pßocTecTive BCX. SMiNGUPcRDS -0:/ l A42 words
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Executive Lifestyle
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Article237 1987-09-12 9 WITH SEVENTH MOON GHOSTS supposedly roaming the Earth, bidders at auctions have once again become a superstitious lot, willing to pay thousands of dollars for maybe two oranges or small lumps of charcoal which they call black gold. Well, the bidders proved less generous when, for237 words
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Article237 1987-09-12 9 .TRENDS CHEATMG in examinations is gsttlng sophisticated. Students in ThaHand have resorted to high-tech gadgetry most people only sss in Jamee Bond movies. Ths Thai students, r sported in an MBT story, have discarded old-fashioned miniature radioe and sarphones they've gone digital. "We think there237 words
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Article, Illustration872 1987-09-12 9 JAIME LYE - PIM With JAIME LYE CHILDHOOD is a funny thing. For example, Freud would probably have explained that your deep-seated repulsion for Tom Selleck's chest stems from an accident you had with your teddy bear when you were six. In other words, somewhere between the Heinz872 words
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Article, Illustration953 1987-09-12 9 MARTIN SOONG - By MARTIN SOONG MEN with leather bomber jackets, mirrored aviator shades and five o'clock shadow evaporating down the highway into a seven o'clock sunset; men who leave only a quiet trail of smoke and the smell of burning rubber as their signature. This, is the classic imagery953 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration640 1987-09-12 10 JEFFREY TSANG - MOTORING By JEFFREY TSANG RENAULT IS HOT on its 5. Barely two years old, the little French runabout's been put through a facelift, a rare move for a European carmaker. But then, it was necessary. Although the top-selling model in its home market, it's640 words
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Article362 1987-09-12 10 THE FOOD TEAM - FOOD By THE FOOD TEAM THE ACID TEST was certainly the table of Bibiks who epitomised the expression "sedap!" They find their respective ways to Gunong Sayang. these old and young nonyas and babas. On weekends, this nonya restaurant on the third floor of Thong362 words
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Article, Illustration769 1987-09-12 10 RICHARD SEAH - HEALTH By RICHARD SEAH IS FISH MEAT? A reader asked some weeks back. As the reader pointed out. fish and seafood are separately classified in culinary terms. Perhaps health writers should make the same distinction? Most do not. Books on nutrition generally769 words
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Article, Illustration758 1987-09-12 11 BRIAN MILLER - NIGHT SPOTS By BRIAN MILLER "WE'VE BEEN on the scene for so long that people have begun to accept us for what we are and what we can do." So said Jerry Fernandez of the Neu Faces when asked to comment on the secret behind his group's758 words
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Article, Illustration558 1987-09-12 11 GOH YEE LING - FASHION By GOH YEE LING THEY MAKE ME feel like a barbarian. So soft-spoken, quiet, demure, coy, unassuming and unspoilt were they. The ancient Chinese regarded foreigners as barbarians but I'm not a foreigner as such I'm of Chinese stock too. But the558 words
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Article, Illustration217 1987-09-12 11 FOR WOMEN ONLY. Chanel, the name irrevocably linked with charming black dresses and suits, has introduced a wrist watch for women. It's one watch design with three variations. For a start, two are worn loose, much like bracelets and come in four sizes. The217 words
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Article, Illustration664 1987-09-12 11 LAWRENCE TAN - CINEMA By LAWRENCE TAN WHO SAYS Jack Nicholson can't be typecast? And now that it's happened, the result is nothing short of gross. The bloated excess that he carried off with such panache in Terms of Endearment is carried to its horrifying extreme like a pot664 words
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Article, Illustration558 1987-09-12 11 JAIME LYE - By JAIME LYE OH LORD, it's hard to be humble, when you're Mr and Mrs Sean Penn I can t bear to look in her mirror Madonna's getting blonder each day To know them is to love them? Life must be a hell of a mess558 words
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Article805 1987-09-12 11 Sakina Dhilawala - Compiled by Sakina Dhilawala CINEMA: The Living Daylights starring Timothy Dalton. Showing at Lido: 11; 1.30; 4; 6 45; 9.15. Masters of the Universe starring Dolph Lundgren and Frank Langella. Showing at Cathay: 11; 1.30; 4; 6.30; 9. The Secret Of My Success starring Michael J Fox. Showing at805 words
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Article266 1987-09-12 11 SHORT TAKES WOMEN on the topic of women. That is the focus of the Women's International Film Festival, organised jointly by the Singapore Film Society and the Association of Women for Action and Research (Aware). And this isn't a feminist braburning exercise, as sceptic! may think,266 words
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Executive Lifestyle: Sports
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Article, Illustration728 1987-09-12 12 TENNIS AP MATS WILANDER slew the "Swede Killer" at the US Open on Thursday, ensuring that his country will be represented in the finals. Third-seeded Wilander beat No 5 Miloslav Mecir 6-3, 6-7 (5-7), 6-4, 7-6 (7-0) in a groundstroke duel to move into theAP - 728 words
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Article, Illustration760 1987-09-12 12 NYT WHEN Dorothy McNeil needed a respite from raising four children, she sought refuge on the tennis courts near her home in San Diego. She often brought along her youngest, a daughter. U wasn't a burden and it turned out to be an arrangementNYT - 760 words
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538 1987-09-12 12 Brian Miller - RACING on TMCk with Brian Miller IT'LL TAKE a mighty fast horse to beat Always Bright in the $15,000 Totalisator Board Stakes race to be run over the Ipoh 1200 m this afternoon and given the condition he is in right538 words
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235 1987-09-12 12 BOXING Reuter A SYNDICATE of Australian businessmen is willing to underwrite a heavyweight fight between American Michael Spinks and Aussie Joe Bugner to the tune of As 3 million (US$2.l million). Promoter Bill Mordey said on Friday that he had told Spinks's manager ButchReuter - 235 words
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Article, Illustration427 1987-09-12 12 ATHLETICS AP CALVIN SMITH had a hard time staying ahead of a crowd of sprinters in the 200 metres at the Rome World Championships. And, with Carl Lewis entering the event at the Mobil Grand Prix final in Brussels, he mayAP - 427 words
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622 1987-09-12 12 AMERICAN FOOTBALL AP THE AMERICAN National Football League season opens on Sunday, overshadowed by the threat of a players' strike and wranging over compulsory drug testing. The players have threatened to go on strike on Sep 22 if team owners don't grant them "free agency"AP - 622 words
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675 1987-09-12 12 MIKE THUMBA - BRIDGE By MIKE THUMBA FROM my recent conversations with some of the teams that participated in the Pesta Sukan Bridge Tournament last month in Singapore. I detected a growing interest in the game in the Far East Zone. The game is already quite popular675 words
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Article, Illustration144 1987-09-12 12 SQUASH AFP WORLD JUNIOR champion Jansher Khan of Pakistan crushed fellow countryman Mir Zaman Gul 9-6, 9-2, 9-5 in the quarter-finals of the Malaysia Open squash championship in Kuala Lumpur on Thursday. Khan, the top seed, was scheduled to meet Englishman Martin Bodimeade in theAFP - 144 words
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Executive Lifestyle: Personal Investment
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1563 1987-09-12 13 CHARLES SAVAGE - UNIT TRUSTS By CHARLES SAVAGE UNIT TRUSTS, up to recently considered so dull and boring that only your grandmother invested in them, are now com- manding the interest of Singapore investors. Singaporeans can choose from 21 funds managed locally. Indeed, five new funds have sprouted1,563 words
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871 1987-09-12 13 STOCKS BBMIER'S COMER Ej WITH ALL THOSE new listings coming on at the local bourse, one may have an impression that getting listed on the stock exchange is a cinch. But public money is not that easy to come by. Before a listing can even871 words
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Article, Illustration1072 1987-09-12 13 ROSIE TAN - PRECIOUS STONES By ROSIE TAN DIAMONDS may be a girl's best friend, but De Beers is probably a diamond's best friend. The South African-based cartel, that effectively controls the international diamond market, has proved capable of looking after these precious gems even through the rough and1,072 words
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Article, Illustration373 1987-09-12 13 FUND MANAGEMENT FOREIGN FUNDS will increasingly flow into the Singapore market because diversification is becoming important for the first time in the history of fund management, said Mr Nelson Kam, senior investment analyst at Singapore Nomura Merchant Banking. He said: "The next time we have a down373 words
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Page 9 Advertisements
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Advertisement14 1987-09-12 9 Real buying power at your fingertips. Call 732 2244 for an application form today.14 words
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Advertisement107 1987-09-12 9 Inside The Hour Glass. kitm-gflr-. The Architects of Time You build on the beauty of an Ebel when you buy it at The Hour Glass. I iWhen you shop at The Hour Glass you shop with confidence. You shop with the absolute assurance of the authenticity of every timepiece you107 words
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Page 10 Miscellaneous
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Miscellaneous2568 1987-09-12 10 SLOTS TO WATCH Chaplin, Jhabvala and Miss Marple Movies MORE priceless gems come this way via the Charlie Chaplin Cava lead*. Made in the 1916-17 period. One A M, The Pawn Shop. The Floorwalker and The Rink are all great. (Today, 8.30 pm, Channel 12). Gregory Harrison stars in the2,568 words
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Page 13 Advertisements
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Advertisement503 1987-09-12 13 BT welcomes investment ideas and viewpoints from brokers, bankers and other readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, S'pore 0923. Our Chartpoint columnist is away on holiday, but he will be back next week. In The Matter of The Companies Act Cap503 words
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Advertisement536 1987-09-12 13 NOTICES THE COMPANIES ACT, CAP. 50 A. C. MARINE ENGINEERING PTE LTD (In Voluntary Liquidation) SPECIAL RESOLUTIONS PASSED ON 3 SEPTEMBER 1987\ J At an Extraordinary General Meeting of'" 1 the company held at 67, Owen Road, Singapore 0621 on 3 September 1987 the fottewing Special Resolutlgns were passed:(a) That536 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration4391 1987-09-12 14 UNCERTAINTY over the new delivery and settlement system and a lack of fresh factors resulted in another day of quiet trading. Turnover was thin at 18.95 million shares worth $53.33 million, although it was up slightly from Thursday's volume of 18.19 million shares worth4,391 words
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Article256 1987-09-12 14 Rises M limdn 1240 Fadarol FW 53J Mutpho Spora 93 FAN 1380 MMre HMgi 1290 toroco 444 baton 50< 893 No) Iran 805 Shangri-lo 630 Falls Corfeborg 670 SI A 1490 Matal ftox Spora 390 Un Koh Ngom 127 tmo 50* 432 NOl 328 Sing hw A256 words
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Article3607 1987-09-12 14 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "SETT"3,607 words
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Article308 1987-09-12 14 ALEXANDRA HOLDINGS Berhad: AGM at 255 Alexandra Road. Singapore 0315, today at noon. ROXY ELECTRIC INDUSTRIES (MALAYSIA) Berhad: 19th AGM at Ming Crystal Ballroom. 1st Floor, Ming Court Hotel. Jalan Ampang. Kuala Lumpur on Monday. Sep 14, at 11am. MALAYSIAN ASSURANCE ALLIANCE Berhad: 18th AGM at Ming Crystal308 words
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Page 14 Advertisements
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Advertisement16 1987-09-12 14 KL market report, Business done on the KLSE, Page 15 Unit Trusts table on Page 1516 words
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COMPANY NEWS
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287 1987-09-12 15 MBT THE NEW STRAITS TIMES Press (Malaysia) has entered into a conditional agreement with Faber Merlin (Malaysia) to buy the land and buildings of the Merlin Hotel complex in Kuala Lumpur for Msllo million. The purchase will be made viaMBT - 287 words
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91 1987-09-12 15 UNITED Industrial Corporation will be issuing a circular over the weekend to explain why it terminated its joint-venture agreement with United Overseas Land to acquire Goldhill Square The circular will be distributed to shareholders attending the extraordinary general meeting at the Shangri-La Hotel91 words
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Article3298 1987-09-12 15 SHARE PRICES recovered some ground on the Kuala Lumpur stock market yesterday after a two-day weak spell, with widespread dou-ble-digit gains being recorded. Blue chips and second liners especially were firm. Finance and commodity stocks attracted renewed interest to register handsome gains. Bargain hunters were probably3,298 words
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Article, Illustration469 1987-09-12 15 ELAINE KOH - Group posts $10.2 m pre-tax loss By ELAINE KOH DESPITE an optimistic forecast in the last interim report, Sim Lim Investments continued to sink into the red, and posted a group pre-tax loss of $10.24 million for the year ended March 31. 1987.469 words
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Article268 1987-09-12 15 prk»s DBS Bank tor S«p 12 14 Sh*nton Gr Fund 223 229 Singapore Unit Trust Jopon Gr Fund 151 156 Th* CoMim 125 IX Sh*nton THrth Fund 101 101 Tl >* Sovingt Fund S'por* Prog Fund 1 II 051 I 055 (JOB Management 216 S pore Soc Fund268 words
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Article173 1987-09-12 15 QAF to double authorised capital QAF LTD's shareholders resolved at an extraordinary general meeting yesterday to double the company's authorised share capital to $100m by creating 125m new 40-cent shares. Directors have also been authorised to issue and allot 75.37m new 40cent shares through a two-for-three rights issue,173 words
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LATEST RESULTS
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Article104 1987-09-12 15 trimmed its pre-tax losses to $1.19 million for the hatf year ended June 30, 1987, from $5.14 million in the previous period. This was despite a fall in turnover to $5.57 million (S9.36 million). Loss per share was 3.73 cents (loss of 16.62 cents). The operating loss104 words
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Page 15 Advertisements
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Advertisement242 1987-09-12 15 Kara SIM LIM FINANCE LIMITED (Incorporated in the Republic of Singapore) Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the 23rd Annual General Meeting of the Company will be held at the Penthouse. 10 Jalan Besar. 17th Floor. Sim Lim Tower, Singapore 0820 on Tuesday. 29 September 1987242 words
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Advertisement24 1987-09-12 15 HER WORLD Singapore's largestselling women's magazine Sept 1987 $3.50 A rnemtxf n» the 3* Au(l< Bureau o< Circulations (Australia i at t HHI I24 words
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Advertisement333 1987-09-12 15 on achievement Business Times, Singapore's foremost business paper, and DHL, the world's leading courier, are proud to announce that the search is on for Singapore's Businessman of the Year, for the individual who strove for success and so made the most notable contribution to business in 1967. And we are333 words
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682 1987-09-12 16 AP THE PHILIPPINE government yesterday announced that the central bank governor and eight other senior officials had resigned in a shake-up following last month's failed coup and the mass cabinet resignation. The announcement followed press reports that President Corazon Aquino wouldAP - 682 words
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350 1987-09-12 16 Bernama MALAYSIAN Prime Minister Datuk Seri Dr Mahathir Mohamad yesterday told members of the United Malays National Organisation (Umno) that the time had come for them to close ranks and reunite. "There is no longer any Team ABernama - 350 words
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220 1987-09-12 16 AFP MALAYSIA'S central bank called on commercial and merchant banks yesterday to arrange for financially sound companies to take over troubled firms instead of putting them into receivership. Central bank governor Jaffar Hussein told banks "to consider how mergers and acquisitionsAFP - 220 words
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Article, Illustration213 1987-09-12 16 TAN KOK LIANG, former financial director of Pan-Electric Industries, was declared a bankrupt in the High Court yesterday. This came after a bankruptcy petition filed in early February by the Asia Commercial Bank (ACS) for a debt of $864,814, which represented213 words
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408 1987-09-12 16 DESPITE THEIR strong economic growth rates, Taiwan and South Korea are less well-off than Singapore and Hongkong, according to two US economists. Using the US as a base. Alan Heston and Robert Summers of the University of Pennsylvania developed a system408 words
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248 1987-09-12 16 DATA GENERAL will invest more than $40 million over the next five years in a software development centre here. The decision to set up the centre comes more than a year after the plan was first mooted. A software development248 words
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Article91 1987-09-12 16 Reuter COMEX GOLD futures rallied from lows on buying against the dollar's drop yesterday morning on the record US trade deficit in July but held a portion of early losses December gold held a net loss of US$2.OO at U*****.60 an ounce after the buying enthusiasm leveled offReuter - 91 words
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Article78 1987-09-12 16 AP THE NEW YORK stock market headed higher yesterday morning, continuing the rally of the past two sessions despite adverse news on the US foreign trade deficit and interest rates. The Dow Jones Industrial Average climbed 15.95 to 2,592.00 in the first hour of trading. Gainers outnumberedAP - 78 words
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260 1987-09-12 16 Bernama THE MALAYSIAN government will ensure that the religious freedom guaranteed in the Constitution is upheld, with all Malaysians able to practise their respective beliefs without any fear. Information Minister Datuk Mohamed Rahmat said yesterday. He said that though Islam was the officialBernama - 260 words
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Article138 1987-09-12 16 Bernama MALAYSIA'S Culture and Tourism Ministry will study the feasibility of making it compulsory for all tour buses from Singapore entering via the Johor Causeway to stay at least 24 hours in Malaysia Minister Datuk Sabbaruddin Chik said yesterday such a move would ensureBernama - 138 words
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LATE FILE
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Article51 1987-09-12 16 Bernama JOHOR has no immediate plan to curb sand exports to Singapore. Menteri Besar Haji Muhyiddin Yassin, commenting on a press report saying the government might limit sand but would boost grass exports to the Republic. said yesterday there was no reason to restrict sand exports.Bernama - 51 words
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Article71 1987-09-12 16 AP THE MALAYSIAN car industry is suffering from low sales, retrenchment of workers and other woes because of the current recession that has hit the country. The Automotive Federation of Malaysia said yesterday in a statement a recession had hit the car industry soAP - 71 words
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40 1987-09-12 16 Reuter TELECOMMUNICATIONS companies from Japan, the US, Australia and New Zealand are planning to set up a digital communications network around the Pacific rim which should be virtually complete by 1996. ReuterReuter - 40 words
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Article38 1987-09-12 16 Reuter KEY Opec oil ministers ended their talks yesterday on measures to halt excess cartel output which has threatened to drive prices below a cartel reference price of US$lB a barrel. ReuterReuter - 38 words
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Article53 1987-09-12 16 AP THE REAGAN Administration will tell US oil companies soon that it no longer objects to their doing business with Syria. The New York Times reported yesterday the announcement was expected within days; and was part of a White House attempt to improve tiesAP - 53 words
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Article37 1987-09-12 16 Reuter SOUTH KOREA'S ruling and opposition parties failed to introduce a draft constitution to Parliament yesterday because of differences over when to hold general elections, but they agreed to continue talks. ReuterReuter - 37 words
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58 1987-09-12 16 Reuter NOBORU TAKESHITA is the preferred candidate to succeed Yasuhiro Nakasone as Japan's prime minister, according to a newspaper poll published yesterday. But the survey, conducted by the Yomiuri Shimbun at the end of August, also showed most Japanese believe Mr Takeshita has the leastReuter - 58 words
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Article47 1987-09-12 16 Reuter CHINA'S leader Deng Xiaoping said yesterday he wanted to retire from all his political posts but said colleagues would not let him. Japanese sources said Mr Deng, 83 last month, made his comments to a team from Japan's Democratic Socialist Party. ReuterReuter - 47 words
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Article33 1987-09-12 16 Reuter THE INDIAN GOVERNMENT ordered yesterday spending cuts of US$5OO million and a hold-down on official trips abroad to finance relief for a disastrous drought sweeping India. ReuterReuter - 33 words
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Page 16 Advertisements
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Advertisement171 1987-09-12 16 BT SURVEYS Looking Wider, Thinking Deeper Some subjects are of such interest to our readers that they demand more space and more research than can be given in our daily reporting. As part of BT's overall service we have always recognised this and taken the necessary steps. Filling the gap171 words
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Advertisement99 1987-09-12 16 File this in October WE SPEND up to a third of our lives there. Some, well over half their waking hours. Many of our best moments and a few of our worst are played out in its inner spaces. And we strive at all levels to make it a conducive99 words
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Advertisement173 1987-09-12 16 The University of Melbourne Graduate School of Management MBA Applications are invited for admission to the 1988 MBA program. This is a two year full-time program commencing in March 1988 and is offered on a full fee-paying basis to overseas students. Applicants should have a university degree and at <4east173 words
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