The Business Times, 19 December 1987
1987-12-19
1
18
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The Business Times
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Title Section12 1987-12-19 1 BUSINESS TIMES MCI (P) 95/12/87 Weekend Edition, December 19-20, 1987 75 CENTS12 words
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Article152 1987-12-19 1 Overseas markets Friday HK Hang Seng Index 2180.46 38.23 Tokyo Nikkei Average 22,826.97 (-72.86 Sydnoy All-Ordinaries 1240.5 (-10.2 Thuodoy Now York (Dow Jones) 1924.40 (-50.07 London (FT 30 Indox) 1366.6 (+17.7 Exchange ratas US$: 126.30/40 yon 1.6200/10 DM SS2.0000/10 US$1.8355/65 M$> SS0.8022/29 Slmax Euro-S (Mar) 92.13 (-4152 words
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Article, Illustration225 1987-12-19 1 AN OVERNIGHT FALL in Wall Street and a softer dollar depressed sentiment in major Asian markets but Singapore and Hongkong managed to bounce back from the day's lows to close higher. The Dow Jones Industrial Average tumbled 50.07 points to 1,924.40 on Thursday on225 words
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486 1987-12-19 1 SOH TIANG KENG - Dealers suspect heavy MAS intervention By SOH TIANG KENG Financial Correspondent THE US DOLLAR recovered slightly against the Singapore currency yesterday, closing at 552.0005 after finishing below the psychological level of Ss2 during the previous two days. Many dealers attributed the greenback's rally to486 words
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398 1987-12-19 1 Reuter THE ONLY WAY to correct the massive US current account deficit is for the dollar to decline to at least 100 yen over the next three or four years, said Martin Feldstein, HarvardReuter - 398 words
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Article34 1987-12-19 1 WALL STREET stocks were higher early yesterday despite expectations of hesitation. The Dow 30 index was up seven at 1931 and gaining issues led decliners by over two-to-one. Trading was active.34 words
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Article36 1987-12-19 1 UK SHARES lost some ground in mid-session yesterday. At 1200 GMT, the Financial Times industrial share index was 12.8 points down at 1353.8 and the Footsie 100-share index was off 16.8 at 1689.4.36 words
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387 1987-12-19 1 AFP Reuter SOUTH KOREAN President-elect Roh Tae-Woo yesterday offered to hold talks with his political opponents as police clashed with demonstrators in several parts of the country. Despite the tense situation caused by the opposition charges of vote-rigging, the South Korean shareAFP; Reuter - 387 words
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228 1987-12-19 1 Bernama AFP EIGHT OF THE 62 people still held under the Malaysian Internal Security Act following a nationwide security sweep launched on Oct 27 were released unconditionally yesterday. Among them are Aliran president Chandra Muzaffar (who was detained in Penang on Oct 27), PASBernama; AFP - 228 words
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Page 1 Advertisements
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Advertisement343 1987-12-19 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM Full local report, Ptg* 16 World marfcato, Pago 9 Win ten super prizes CHRISTMAS-TIME is Cross-word-time for BT readers. Yes, we will again be having our giant crossword specially compiled with the festive season in mind. But the clues are pretty easy and will343 words
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Advertisement151 1987-12-19 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC v r^JL WA y N you think wine's dry sutofact... Page 11 Giving 'nestlings' that helpful nudge Page 11 Take a break or end up broken Page 12 Ford's new sleighs for the season Page 12 TV programmes for today and tomorrow Paga 12 Ms151 words
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HOME NEWS
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387 1987-12-19 2 BOEY KIT YIN - By BOEY KIT YIN MANUFACTURERS in the precision engineering industry recorded an output of $485 million during the period from April 1986 to March 1987. According to an Economic Development Board (EDB) sectoral' report, released yesterday, this was a 10.2 per cent growth387 words
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256 1987-12-19 2 LONG SHIH ROME - By LONG SHIH ROME A JAPANESE MANUFACTURER of photovoltaic products has set up its first subsidiary here to assemble solar lanterns. Hoxan Industries (S) Pte Ltd, the first overseas manufacturing arm of Hoxan Industries Co Ltd of Japan, plans to invest $20 million256 words
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127 1987-12-19 2 A SURVEY on employment and unemployment will be conducted by the Labour Ministry during the rest of this month and into the middle of next month. Findings from the survey will be used to help the ministry evaluate and formulate its plans and policies on employment.127 words
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232 1987-12-19 2 THE SINGAPORE Tourist Promotion Board, together with six travel-related companies, yesterday launched an exhibition company which will stage cultural and historical exhibitions of genuine artifacts from China. It will hold the exhibitions at the Empress Place Building, now being renovated. A five-year series of exhibitions232 words
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Article, Illustration309 1987-12-19 2 THAT WONDERFUL FEELING of sinking a hole-in-one was shared by two parties yesterday an amateur golfer and a charity organisation. Mr Douglas Beaton, a 16handicapper. donated his hole-in-one prize a Mitsubishi Galant 1600 GLS to the Community Chest. Mr Beaton, 56. sank a hole-in-one during309 words
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Article150 1987-12-19 2 THE Commission of Inquiry into the Teh Cheang Wan affair presented its report to President Wee Kim Wee yesterday. It waa in August that the three-man commission began a public hearing concerning the late Mr Teh, the former Minister for National Development. The three-day public hearing150 words
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Article77 1987-12-19 2 IN A REPORT on Dec 16 headlined "Professionals show concern over new tender rules", it was stated that 90 per cent of the work of architects in the private sector comes from the the government currently. It should have read: "In terms of volume, about 90 per77 words
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Article960 1987-12-19 2 AT CONVENTIONAL WHARVES Fengyon Megoh Seroya JI2 Jl alongside olongside 1912/2300 1912/0600 Aolia Seraya J1 1912/0530 21 12/2300 VMMI Bar* Arrival Departure Abadi iaya Jl 1912/0700 2012/2300 KEPPEL WHARVES Dwi Doyo il I912AH00 2012/2300 ton Del into 121 JI0 1912*1730 1912/2300 Doryunshon alongside 2512/2300 Francesco Nullo J7/8960 words
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Page 2 Advertisements
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Advertisement181 1987-12-19 2 100 LUCKfCTJSTOMERS TO WIN j$ 30, Wrtk ovory $20 partitas* at any To*Han Starts except TmWi Met cmlmmn it entitled to a chance to win S3OO Yaohan Vouchors. A total of 100 lacfcy custom*rs «3 win 530.000 Taohan Gift Vowdwrs. Ml-, 61 <u. I O. -< I 0 'v V.181 words
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OVERSEAS
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336 1987-12-19 3 Reuter THE PHILIPPINE SENATE voted by 23 to 15 on Thursday to approve the creation of a national debt commission that will seek to fashion debt policy, recommend negotiators and hold quarterly reviews of the debt situation. The move followed the Senate'sReuter - 336 words
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Article317 1987-12-19 3 Reuter LATIN AMERICAN legislators say they have sown the seed of a future "debtors' club" for the joint negotiation of the region's debt of nearly US$4OO billion. The Latin American Parliamentary Assembly for the Foreign Debt, in a document issued on Wednesday, urged the needReuter - 317 words
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Article817 1987-12-19 3 ARRIVALS Opfotof Sorvico Local From number tinw CPA C3C710 1015 CGK tlA BI421 1100 BWN GU GA960 1100 CGK SJA SQ105 1105 KlU SU SQ201 1145 CGK SA SQ238 1155 MES THAI TG403 1155 BKK SU SQ191 1155 PfN MAS MH682 1230 KCH GU GA940 1235 MES817 words
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Article353 1987-12-19 3 Reuter THE CASH-PINCHED European Community has agreed to spend more than US$23O million to win a big cut-price grain deal with the Soviet Union. Trade sources in Brussels said on Thursday that the deal marked the latest move in the community's battle withReuter - 353 words
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194 1987-12-19 3 AFP INDONESIAN textile traders failed to meet their 1987 export target of US$l billion to US$l.25 billion due to shipment, domestic quota, distribution and international trade problems after the stock market crash. But Mr Frans Seda, chairman of the Textile Association, said onAFP - 194 words
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Article203 1987-12-19 3 Reuter THE NEW Turkish government plans to continue to apply conditions of the calendar 1987 budget through the first tour months of 1988 and introduce a new budget by end-April, Prime Minister Turgut Ozal said. Mr Ozal. re-elected last month for a five-year term, alsoReuter - 203 words
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492 1987-12-19 3 Agencies THE US is stepping up pressure on South Korea and Asia's other "little dragons" to take steps to help cut their growing trade surpluses with the US. Officials in Washington said yesterday that the duty-free status granted the four "littleAgencies - 492 words
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Article79 1987-12-19 3 AFP ITALY'S trade deficit this year is expected to surge to about 11,500 billion lire against a 3,700 billion total last year. Foreign Trade Minister Renato Ruggiero said it has been a difficult year for foreign trade. Latest figures from the national statistics office,AFP - 79 words
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168 1987-12-19 3 Reuter THE EUROPEAN Community said on Thursday it was preparing to impose trade sanctions on South Korea in an attempt to compel it to give European firms better legal protection for their patents. A spokeswoman said EC ministers meeting yesterday were expected to respond toReuter - 168 words
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196 1987-12-19 3 Reuter THE EUROPEAN Community said on Thursday it welcomed Swedish plans to abolish all trade barriers with the EC and seek entry to the free internal market planned by 1992. A spokeswoman for the EC's executive commission said it welcomed Sweden's approach,Reuter - 196 words
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195 1987-12-19 3 Reuter TRADE DELEGATES are in support of holding a ministerial meeting in Canada in 1968 to review progress midway through the Uruguay Round negotiations to liberalise world trade, said Gatt spokesman David Woods in Geneva on Thursday. Canada's trade ambassador John Weekes formally offeredReuter - 195 words
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Page 3 Advertisements
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Advertisement0 1987-12-19 3 ^-,?+/`[}!+@/[<;&~:<,,_@%$*^=;[0 words
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Advertisement17 1987-12-19 3 ce 9 r r PARIS BT 28 l\ Lancel Boutique: 435 Orchard Road, #02-28/31 Wisma Atria. v17 words
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MONEY AND EXCHANGE
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Article84 1987-12-19 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BIO OfFtR HIGH LOW 3 months BQ*****X 17.3.88 3.30 3.25 3.27 3.19 6 months BS*****S 21.4.88 3.30 3.25 3.24 3.00 1 year BY*****T 24.11.88 2.45 2.40 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code84 words
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Article, Illustration186 1987-12-19 4 Indicates tht ivtrigt of uif prime lenoing riiH of 12 ma|or banks In S'pora Interbank market rates (offer/bid) on Dec 18 us$ DM SWFC Y«n 7 day* 13/16— 11/16 8 3/8 1/4 3 1/16 3 15/16 1/J— 1/4 4 9/16 7/16 1 M*> 8 3/8 1/4 8186 words
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Article1010 1987-12-19 4 SINGAPORE: The US dollar yesterday recovered in thin late trading to close firmer compared with New York levels. The dollar met selling pressure at mid-morning to touch record lows of 125.55 yen and 1.6145 marks following Japanese Finance Minister Kiichi Miyazawa's remark that there was no plan to1,010 words
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Article59 1987-12-19 4 THE OVERNIGHT rate on the Singapore interbank market fell 314 points to close at !4 per cent yesterday. The term rates fell point across the board. S$ Interbank rates at 7pm yesterday: orm mo rtgM 1/4 i/e 1-month 3 1/2 3 3/8 2-mon* 3 1/2 3 3/8 3-monMi59 words
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Article535 1987-12-19 4 BA Futures EURODOLLAR futures opened slightly lower in Simex yesterday from the previous close as the US dollar touched a new record post-war low in the Far East time zone. March Eurodollar dipped to the low of 92.09 after opening at 92.11, but recovered to the intraday's high ofBA Futures - 535 words
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Article139 1987-12-19 4 Gold futures on Dec 17 100 troy ounces. USS per troy ounce Opafl Htgh Low torn* Dac 485 00 485 50 475.00 485 10 -0.20 ion 486.40 -0.40 f«b 88 490.00 ***** 475.00 489.70 -0.40 *♦>» 495.50 496.50 4*0.00 495.80 -0.60 Jwn 502.00 502.00 486.00 ***** •0.70139 words
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Article179 1987-12-19 4 Asian market Interbank cteposl It rates US$ OFfW WD 7 days 6 7/8 6 3/4 1 mm nil 8 3/8 8 1/4 2 muxtw 8 1/8 8 3 nimiihi 8 1/8 8 6 mo»H»i 8 1/8 8 9 momtw 8 3/16 8 1/16 12 iiwiN 8 1/4 8 1/8 S179 words
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Article1739 1987-12-19 4 CURRENCY FUTURES OPTIONS Friday, December IS 1987 DEUTSCHE MARK (SMtfEX) Jen M cm Jan 88 puts High Lev tea Htgh Leer Sea 56 CAS 57 535 CAB 435 j 59 334 4 60 2438 236 14A 12 6> '606 ISC 30A 29 62 94 62A 61 63 51A 471,739 words
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Page 4 Advertisements
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Advertisement189 1987-12-19 4 lld&lIM* V l&M&M :]TT irra» 111 IJKiI r? V M \9 rr/ .r-4'M i wh 5* I I I I;H H mi 7 t :if A®ITKEA/?S£KE BALLROOM Set Dinner Dance $70 per person with festive entertainment by mobile disco. Time: 7.00 pm 3.00 am 7-Course Set Dinner $100 per person.189 words
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BANKING AND FINANCE
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364 1987-12-19 5 Reuter MAJOR UK BANKS, struggling to cope with problem Third World loans, are unlikely to follow the US-based Bank of Boston in writing off part of their debt, but are expected to make some increases in provisions when reporting their 1987 resultsReuter - 364 words
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238 1987-12-19 5 Reuter SUMITOMO TRUST and Banking Co Ltd and Mitsui Trust and Banking Co Ltd were annoyed by a decision on Wednesday by Moody's Investors Service Inc to downgrade their debt ratings, officials at the banks said. They said they were particularly frustrated with theReuter - 238 words
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454 1987-12-19 5 Reuter TJ*E "PEOPLE* Bank of China is-struggling to play its proper roltf'as a central b'anß' in an economy plagued by low efficiency, too much planning and the lack of a bankruptcy law. In a wide-ranging interview. deputy secretary general Ren Junyin said theReuter - 454 words
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437 1987-12-19 5 Reuter THOUSANDS of Frenchbank clerks hunted through piles of dirty bills looking for notes still crisp enough to work in automatic cash dispensers on the 17th day of the Bank of France strike on Thursday. "French banknotes are very thin, soReuter - 437 words
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186 1987-12-19 5 DAEWOO CORPORATION, the flagship of one of the largest business groups in South Korea, signed a US$25 million syndicated loan on Thursday. The interest rate on the oneyear facility, which matures on Dec 16 next year, is priced at 3/8 of a percentage point over186 words
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Article441 1987-12-19 5 SOH TIANG KENG - Born life agents' diploma By SOH TIANG KENG Financial Correspondent INSURANCE COMMISSIONER Law Song Keng yesterday launched Singapore's first insurance diploma programme a move intended to instil greater professionalism among life agents. In a ceremony at Hyatt Hotel, Mr Law said the diploma course, to be run by the Singapore441 words
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Page 5 Advertisements
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Advertisement488 1987-12-19 5 GOOD Wait no more. Because with the Acer LP-75, you get a laser printer that meets and even surpasses the standards set by the industry leaders. Consider the LP7s's memory 1.5 MB standard. Which means you print an A 4 page of high resolution i type, halftones and "THIL" sophisticated488 words
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Page 5 Miscellaneous
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Miscellaneous172 1987-12-19 5 wmsn //S'Z Mix/ Note Min (°C) 26/15 Haze 12/10 Cloudy 18/09 Cloudy 22/17 Cloor 29/19 Clear —/23 Cloudy 05-04 Cloudy 21/16 Sunny 02-02 Cloudy 07/02 Rain 21/18 Cloudy 14/10 Rain 29/21 Cloudy 12/05 Cloudy 30/19 Rain 21/11 Cloor 08-16 Cloudy 33/15 Fin* 27/17 Cloudy 00-03 Cloudy 03/02 Cloudy 28/26 Show*rs172 words
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Miscellaneous59 1987-12-19 5 Doonesbury CM 10U STAND IT, I MEAN, HOW MMYFOKMEK FRJ&JPS* THE HOUSe SURFERS CAN MAKE THAT CLAIM? OF LORPS SUMMOMN3 ENGLISH-SPEAKING MBFORWTY* WORLP GREAJ OR UJHAT* BY GARRY TRUDEAU ONE OF MY COLLEAGUES, THE PUKE OFPUNTS-ON-THAMES, EVEN SENT ME MY REGALIA! TALK ABOUT THE REP CARPET TREATMENT. SPEAKING TM ITSVOU,59 words
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COMMODITIES
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466 1987-12-19 6 AP OIL PRICES are moving lower but the path appears to be getting rocky and more unpredictable. In wild trading in New York on Thursday, crude oil lost more than US$l as it dipped briefly below US$l5 a barrel. But it rebounded toAP - 466 words
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128 1987-12-19 6 AFP FRANCE dramatically increased its oil imports from Iraq and Libya in October after refusing to buy a single drop of Iranian crude, the French Petroleum Committee said on Thursday. The French government had asked importers in August to stop buying IranianAFP - 128 words
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Article333 1987-12-19 6 Reuter NORWAY COULD DROP voluntary restraints on planned oil production in support of Opec efforts to stabilise prices, if crude prices stay below US$l5 a barrel over the next few months. Government sources in Oslo said on Thursday that Norway was concerned that North SeaReuter - 333 words
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Article100 1987-12-19 6 Reuter WOOL TRADING in the new year will remain extremely difficult if the New Zealand dollar maintains its strength. The New Zealand Council of Wool Exporters in Wellington said that fear of recession in Western markets was dampening forward demand. In the increasingly important ChineseReuter - 100 words
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Article284 1987-12-19 7 HONGKONG: Gold closed slightly lower in (airly active trading yesterday on continued selling. The metal ended at U*****.20/70 against New York's U*****.50/486.00 close and the US$4B7 90/488.40 finish on Thursday. On the local market, gold lost HK$34 to end at HK54,484 a tael. Coins were weaker with Krugerrand284 words
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Article117 1987-12-19 7 Bernama MALAYSIA'S revenue this year from primary commodities exports (excluding petroleum and natural gas) is expected to increase by 10 per cent to M 514.9 billion from M 513.1 billion last year. The prices of several primary commodities have picked up since early this year following betterBernama - 117 words
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Article484 1987-12-19 7 Crude palm oil futures continued its bullish momentum on the KLCE yesterday, setting yet another record turnover of 1,713 lots. Prices too rose to a high of M 51,058 a tonne for nearby March but heavy profit-taking trimmed gains to the M 51.030 level. January rose Msl6 to484 words
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Article229 1987-12-19 7 Chinese Produce Exchange S#Mtn' noon dosing pricos on Doc 18 (SS/100 kg) Coconut oil Bulk FOB 99.00 Old drum FOB 109.00 New drum FOB 113.00 Copra Mixed (Ioom) 56 Pepper AAlJll.1 u rK>t, "Wiw* wnirt FOB NIW 1210.00 Sarawak white FOB foq NLW 1195.00 Sarawak <p«cfal black FOB229 words
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Article56 1987-12-19 7 Reuter WORLD sugar futures jumped to a nine-month high on general buying and nervous short-covering on Thursday morning, spurred by prospects of sharply improved demand for physical sugar. March sugar soared 0.27 cent to 8.63 cents a pound, a level unseen since March 13, 1987. TheReuter - 56 words
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Article195 1987-12-19 7 SINGAPORE The rubber market yesterday closed higher with January One RSS buyers quoted at 218.25 cents/kilo, up 1.50 cents from Thursday's close. The morning session ended 1.25 cents higher in very quiet trading. Prices rose further in thin afternoon trading on continued short-covering. MALAYSIA Rubber prices closed mixed in195 words
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Article86 1987-12-19 7 MARKET CONDITIONS remained confused with most traders prefering to either buy at market related formulas or remain sidelined and watch for price bottom. Sentiment is stilt bearish but the Tokyo crude market exhibited relative stability, and London's gasoil futures opened with a US$4.5O upward correction. Products (FOB86 words
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Article89 1987-12-19 7 THE TIN PRICE on the Kuala Lumpur Tin Market (KLTM) yesterday roee two cents from Thursday's close to M 517.02 a kg in continued dull trading. The marginal rise was attributed to small buying interest from Europe and locally, but Japanese buyers were absent while awaiting more attractive89 words
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Article241 1987-12-19 7 R AS prices in S c*nts/kg, FOB In tel* NOON CLOSE Buyers Sellers Buyers Seiners ht 1 RSS Prompt 219.00 220.00N 219 JO 220JON Int 1 RSS Jon 88 217.50 218.00 218.25 218.75 trrf 1 RSS Feb 88 216.50 217.00 216.75 217.25 Int 2 RSS OP 216.00241 words
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Article78 1987-12-19 7 (cann/kg, 1 -ton poMan) JANUARY 88 FEBRUARY 88 (currant month) (forward month) RAS NOON NOON Ivy*" S«H*n >vy«r* S,[|»ri SSS 30 333.00 235.00N 223.00 225.00 SSI 50 331JO 233.50N 231 JO 223J0N MRELB lwy«n SMS CV 376.50 278.50N 377JO 279JON SMS L 376-50 278.50N 277JO 379JON SMS78 words
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Page 6 Advertisements
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Advertisement1006 1987-12-19 6 'J! H Ir T STK > Hong Kong Dian Xin oil Saturdays, Sundays and public holidays r* ,"%V S- a Enjoy 27 selections of fine Dian Xin delicacies, prepared by chefs from Hong Kong, using only fresh, quality ingredients from 11 am to 3pm. At the Pheasant Room (2nd floor)1,006 words
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Advertisement226 1987-12-19 6 a The finest Beijing cuisine from Pine Court, with complimentary Hennessy Cognac MENU I includes steamed live sea-fish, stuffed black mushroorriaiki Peking Duck. Price: $688* nett per table. Complimentary •bottle of Hennessy XO. ww— MENUn includes braised fi* with chicken sauce, braised abalone with vegetables and sweet sour garoupa. Price:226 words
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Page 7 Advertisements
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Advertisement276 1987-12-19 7 WimMM i mmmmm .-sxH&r m m m in v •>• -E* Advent Sundays Family Brunch: Festive Fare for all. We're celebrating Adventwith a Sunday Brunch that makes for great family outings. With delights like oysters, smoked salmon and traditional Christmas fare. Dec 6,13. 20. 11am 2.30pm. $29 for adults $16276 words
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Advertisement201 1987-12-19 7 I CHRISTMAS EVE 6-CQURSE DINNER at $70++ per person. NEW YEAR'S EVE 6-COURSE DINNER at $70++ per person. With live music, dancing and novelties. Reservations: 338 8585 ext. ***** or *****10. The Westin Stamford Raffles Cky WESTIN Hotels Resorts THE PEOPLE AND PLACES Of WESTIN MAGICALLY HYATT I+l 1 1201 words
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Advertisement256 1987-12-19 7 W -tVO« *vs44 n slo«"*Vo*WMr? 4i A You have a i business to run, A a busy schedule B to keep... SINGAPORE BUSINESS understands your f commitment to your work. So, instead of having to go out in the sweltering heat or get held up somewhere in a traffic jam256 words
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Page 8 Advertisements
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Advertisement41 1987-12-19 8 C<7c*. "7 MAHILI! C—he unique taste has aQwaijS been savouzed bij the tzne connoissenz. the inhezite? skiMs ouez eight generations the fcimihj have czeated a so zaze it can on&ij be desezibe? ui a ivoz?... supzemacij. Cuyz?on upzeme. the JCouse o41 words
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WORLD MARKETS
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866 1987-12-19 9 New York Reuter PROFIT-TAKERS beset Wall Street and on Thursday erased almost half of its three-day, 107-point rally, in a fit of nervousness over Friday's triple witching hour. Another sharp decline in the dollar added to investor apprehension and weighed stocks down, tradersReuter - 866 words
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752 1987-12-19 9 London Reuter SHARE PRICES on the London market were marked lower initially yesterday after a sharp, and rather surprising 50-point drop on Wall Street yesterday, dealers said. Equities continued around the early easier levels at the official 0900 GMT opening after the fall onReuter - 752 words
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Article224 1987-12-19 9 Reuter THE United Kingdom's Panel on Takeovers and Mergers has announced a modification in the City code on takeovers in the light of the stock market crash. Rule 6.1 stated that if a potential bidder acquires shares in its target "when an offer is reasonablyReuter - 224 words
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Article1197 1987-12-19 9 Selected indices HONGKONG Hongkong Index Friday 1.425 36 Thursday 1.400 25 Week ogo 1.***** Hang Seng Index Friday 2.***** Thursday 2.***** Week 090 1.989 58 All Industrials Fridoy Thursday Week ogo NEW YORK Dow Jones Thursday Wednesday Week ago 1.887 0 1.891 1 1.864 4 1.924 40 1.974 47 1.*****1,197 words
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Article79 1987-12-19 9 Reuter BRITISH Petroleum Co PLC is making a 450p per share cash bid for the entire issued share capital of Britoil PLC, valuing the company at about £2.27 billion. BP said the offer represented a 140 per cent premium to Britoil's 187p middleReuter - 79 words
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Article1454 1987-12-19 9 Hongkong PRICES on th« Hongkong market closed higher yesterday on bargain hunting by local institutions and small investors. The Hang Seng Index rose 38.23 points to 2,180.46 and the broaderbased Hong Kong Index gained 25.11 to 1,425.36. Turnover amounted to HKJ749 89 million down from Thursday's HKJ794.951,454 words
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Article133 1987-12-19 9 oec i« WON Chaii Sugar ***** 500 Daalim Ind ***** 1000 Daewoo Corp ***** 400 Duwoo Haavy ***** uncfi Daiahm Sacuritiaa ***** -300 Dong Ah Ptiar ***** 200 Dong Suh Stock ***** 5740 Donabu Staal Goto Star ***** 151S0 1000 100 Harul Bank ***** 600 Harwl Camant ***** 590133 words
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Article517 1987-12-19 9 Reuter SHARE PRICES on the Tokyo market eased in listless trade yesterday but closed above earlier lows as some fresh incentives emerged, brokers said. The Nikkei average lost 72.86 points, or 0.32 per cent, to 22,826.97. Earlier it fell to 22.739.40. The index gained 80.41 on Thursday. Declines ledReuter - 517 words
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Article435 1987-12-19 9 Reuter THE AUSTRALIAN share martet closed weaker and near the day's lows yesterday, due mainly to tails in the gold and oil sectors following declines in bullion and crude oil prices. Industrial stocks were mixed but easier on balance as investors took profits in the transport insurance and propertyReuter - 435 words
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Article120 1987-12-19 9 Reuter THE SECURITIES Exchange of Thailand Index rose 8.49 to 277.47 on a turnover of 3.903.979 shares worth 394.63 million baht. Reuter DCC It MKT Ao Kham Thai Ayudhya Investment 240 Bangkok Agro-lnd 71.5 *h It 6! Bangkok Bank 296 Bank 01 Ayudhya 296 Charoong Thai Wire Cable 315Reuter - 120 words
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Article292 1987-12-19 9 dcc 11 NT All Sincara Indus 29* Asia Camant 67 00 -05 Cathay Cons 7150 j net! Chang Hwa Bank ***** -3 Chang loong 4610 ♦04 Chia Hain Camant 44 SO 0 7 Chin Hain Flour 20 ao 0 4 China Cham 20 80 -02 China Oav 63 50292 words
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Article82 1987-12-19 9 dcc is I •uot Aco|« Mining Anglo Phil Ap*> Mining B 0 0525 •0 0029 Atlas Con B 27 uncti Bagnio Gold Banc Patroiaum 0019 unch Banguat Con B 79 -31 First Phil HkJga Lapanto B 0 96 *0 01 Marcoppar 1 30 *0 02 Oriental 0 0650 uncti82 words
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Page 9 Advertisements
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Advertisement108 1987-12-19 9 AN EXTENDED NOW FOR A Ll*'". i_l! PERIODONI L J Stay two nights with us and enjoy... An extra night free OR A Ss7s gourmet meal at no extra charge Coming home at *Ss7s++ gets even better! When you stay with us for two nights, you can stay on for108 words
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PERSPECTIVE
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Article543 1987-12-19 10 THE LEARNED EDITORS of The Economist Intelligence Unit have pronounced Singapore boring. According to their publication, The World in 1988, if someone wants to plan where his child should be born next year, Singapore should come at the bottom of 50 nations in terms543 words
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Article, Illustration504 1987-12-19 10 AP THE HANDS of the "Doomsday Clock", symbolising the chances of nuclear warfare, were moved back on Thursday from midnight because there are hopeful signs of US-Soviet rapport. The actual moving of the clock hands, which has been done only 11 timesAP - 504 words
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264 1987-12-19 10 Dear Sir I refer to the letter from Mr Peter Chia of the SES published in The Straits Times last month. I totally agree that the SES needs to look into the buying-in rules and to tighten them immediately. But what is the264 words
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Article93 1987-12-19 10 STEVEN TAN - STEVEN TAN Chairman Ad Hoc Committee on Rotation of Auditors Dear Sir I refer to your article "Committee says yes' to rotation of auditors" which appeared on the front page of your publication on Dec 11, 1987. In your penultimate paragraph you stated that Mr Quek Shi93 words
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409 1987-12-19 10 8111 BEE TECK - Letters to the Editor 8111 BEE TECK Dear Sir Your editorial dated Dec 15, 1987, and headlined "Engineers and responsibility" appeared to have misinterpreted the text of my speech given at the ACES annual dinner on Nov 8. 1987. I would like to categorically state409 words
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270 1987-12-19 10 HO SEOW BAN - HO SEOW BAN Quan Ho Construction Co Pte Lid Deer Sir We thank you for your article in BT, Dec 4, 1987, publicising our success in securing the Singapore Indoor Stadium project in Joint venture with Ssangyong Construction Co Ltd. While enjoying your article,270 words
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135 1987-12-19 10 0 W DISTANT - 0 W DISTANT Dear Sir It is common to continue to receive dividends on shares which have already been sold; this is due to the persons holding the certificates at the time of the dividend declaration not being bothered to send these for registration. Could135 words
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209 1987-12-19 10 Dear Sir There are many among the shareholders of OUB's Union Gold Fund who would very much like to know how its unit price could drop by more than 40 per cent of its par value in just two months when the209 words
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Page 10 Advertisements
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Advertisement231 1987-12-19 10 "It's not Paramount, Nor Warner Brothers'' "Not just another movie The saga continues... Beijing Culture Street Dragon Kite Flying Contest Exhibition of Dragon Lanterns Dragon Boat Race Ice Carved Lantern Show Dream of the Red Chamber enactment of Imperial Lady Yuan's visit to her parents. Deluxe Packages A taste of231 words
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Advertisement40 1987-12-19 10 •T aralcama* lattara tram raadara. Your l«tt»r* must Include yur algnatura, lull offlc* (otophone numNra, H any. Vm may add a piimliii ry. w yo« w»ah. HHma your lattara Ik The Editor, Butln#M Tim## MO, Kim Sang Road, Singapore 0923.40 words
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Page 10 Miscellaneous
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Miscellaneous786 1987-12-19 10 J CRYPTIC PUZZLE ACROSS 9 Failed to stay upright? (4. 4) 10 Heavens, give the firm a ring! (3) 11 As man to man. that's capital (6) 12 A bar holds it back, you disclose (6) 13 "A bolt," you say angrily (7) 14 Mark is a most unpleasant person786 words
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Executive Lifestyle
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Article169 1987-12-19 11 REACTION to the arms treaty between the US and Soviet Union has been mixed. One sceptical BT reader thought there might be something telling in a statement made in a recent issue of the Economist about credit cards which read: "By the end of this decade,169 words
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Article, Illustration414 1987-12-19 11 Hi folks, It's me, Octo the bear, again. It's great to be loved. They all said I was too big to be wanted but thousands of BT readers have joined in the contest to win me. I love you all and wish I had some unattached brothers414 words
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Article, Illustration481 1987-12-19 11 BARBARA H PUGH - 11mxs SM\eh BARBARA H PUGH Barbara H Pugh is a consultant with PA Consulting Services Pte Ltd WE ALL TALK about introducing young people to the working world and its tough realities, but how many of us actually act to help a young person enter this481 words
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Article, Illustration1242 1987-12-19 11 MONICA GWEE - If you think wine is a dry topic By MONICA GWEE JEAN HUGEL is puffing away on Cartier cigarettes in the Oriental Hotel in Singapore telling stories. He knows very many. Jean ("call me Johnny") introduces himself as the 11th generation of his family to make wine in Alsace by1,242 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration853 1987-12-19 12 RICHARD SEAH - HEALTH By RICHARD SEAH THIS COLUMN takes a break next week, along with the rest of Executive Lifestyle and BT. Long weekends, annual vacations and other breaks are essential for countering fatigue. And it is when the body is fatigued that immunity drops dramatically853 words
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Article, Illustration526 1987-12-19 12 JEFFREY TSANG - MOTORING By JEFFREY TSANG CHRISTMAS A time for church services. Carolling. Presents. A quiet dinner with family or a loved one. Or even snow, reindeer and Santa Claus though in Singapore you will have to be content with the Orchard Road lights, shopping centre526 words
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Executive Lifestyle: Entertainment, the Arts & Pursuits
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662 1987-12-19 13 Jaime Lye - CHRISTMAS -1» Jaime Lye SO THIS IS IT, huh? Christmas. Bite thy tongue, child, lest that infernal curse. "Bah, humbug!" escape thy acid-tainted lips. This is a story about the meaning of Christmas. About how I've tried to find it.662 words
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528 1987-12-19 13 THE FOOD TEAM - FOOD By THE FOOD TEAM A WORD of advice from one burnt last year. Don't get caught on Christmas Eve ready to fry the town with no reservation. Bookings at all usual hot spots are either gone or going fast for both Dec528 words
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Article815 1987-12-19 13 Ssakina Dhilawals - Compiled by. Ssakina Dhilawals CINEMA: Mannequin starring Andrew McCarthy, Kim Cattrall and Michael Gottlieb. Showing at Cathay: 11; 1.30; 4; 6.30; 9. Innerspace Starring Dennis Quaid, Martin Short, Meg Ryan and Kevin McCarthy. Showing at Capitol, Changi and Jurong. La Bamba starring Lou Diamond Phillips, Esai Morales, Rosana De815 words
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Article, Illustration899 1987-12-19 13 JAIME LYE - THEATRE By JAIME LYE I HAVE PROBLEMS appreciating complex plays. Especially the kind with a young woman who pops out of cupboards and can't decide whether she's a cat or a spaced-out groupie. That explains why till now, I haven't quite figured out what899 words
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Executive Lifestyle: Sports
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Article, Illustration575 1987-12-19 14 Brian Millar - ONTRACK by Brian Millar I BACKED DOWN to ridicuI lously short odds, Dallas i Cowboy proved a disaster for punters at Bukit Timah last week. But he deserves another chance and I'll give him my vote when he lines up with 14 others in575 words
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Article, Illustration592 1987-12-19 14 UPI ANDERS JARRYD on Thursday replaced injured Stefan Edberg, the world ranked No 2 in the singles of this weekend's Davis Cup final in Sweden, but Sweden still has rankings, history and a tailor-made claycourt on its side against the Indian underdogs. "Sweden hasUPI - 592 words
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684 1987-12-19 14 BRIAN MILLER - MARATHON By BRIAN MILLER THIS MAY BE the Christmas season. But, tonight, at least 10,000 people will shun the discos stay away from that late, late supper and opt instead for an earlv night. Each has a good reason. After all, on Sunday684 words
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293 1987-12-19 14 GOLF AP GOLF PROMOTERS looking to promote a fast-play tournament will be sure not to invite Ken Brown of Scotland, Bernhard Langer of West Germany, Denis Watson of South Africa and Nick Faldo of England. Those four were the top vote-getters in anAP - 293 words
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Article, Illustration703 1987-12-19 14 MIKE THUMBA - BRIDGE toy MIKE THUMBA Signalling against suit contract Last week, we discussed the opening leads against suit. This week we go on to signalling. There are three important types of signals we should remember when defending against suit contracts. But. please703 words
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103 1987-12-19 14 THE INDONESIAN Embassy will play host to the final match of the Inter-Clubs Bridge League Games this afternoon at its Chatsworth Road premises starting at 1.30pm. The series started on Aug 1 and almost every week saw teams from 14 clubs and societies pitching103 words
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Executive Lifestyle: Personal Investment
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Article, Illustration378 1987-12-19 15 RC SINCE LAST Tuesday, the Dow Jones Industrial Average has staged an impressive 240-point rally. This is easily among one of the best two-week performances by Wall Street this year, if we exclude the extreme volatility following Black Monday. With American investors chasing high-quality stocksRC; Source: Chartamatic - 378 words
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Article, Illustration996 1987-12-19 15 RAMESH CHANDIRAMANI - CURRENCIES By RAMESH CHANDIRAMANI A FEW BRAVE SOULS are forecasting that the US dollar is nearing rock bottom and may soon stage a comeback. Indeed, this small body of opinion, very much in the minority right now, even suggests that the dollar has fallen too far and996 words
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Article, Illustration1004 1987-12-19 15 Ramesh Chandiramani - mm msmn by Ramesh Chandiramani JURQNQ ENGINEERING Ltd is probably the only quality issue that has barely budged, even though the local market has gained almost 70 points since last week. Still selling close to the year's low and almost 57 per cent below1,004 words
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Article603 1987-12-19 15 ART TRADE Sotheby's Research Department THE HIGHLIGHT of the art market last week was the sale of the British Rail Pension Funds' collection of Japanese prints in London. Following the funds' earlier sales of Old Master prints and English silver, the Japanese prints drew a greatSotheby's Research Department - 603 words
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597 1987-12-19 15 STOCK MARKETS BEonrmFrsA WRITER Eg® IHT IT S THAT TIME of the year again. Around mid-Decem-ber, students of the stock market can be heard debating the probable outcome of the "January effect", one of the most intriguing anomalies in investing. In all butIHT - 597 words
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Page 11 Advertisements
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Advertisement23 1987-12-19 11 FOR THE CARD WITH THE LONGEST INTEREST-FREE REPAYMENT PERIOD OF 25 DAYS, CALL 532 3577 ■nmHiMrMM cuoac ISBB IbSB CHASE CLASSIC VISA 64JVt23 words
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Advertisement142 1987-12-19 11 Inside The Hour Glass. The Architects of Time Aj «v v yx /V i. r* '•V I tf JP. f'- r -%< f* V" 'i*'f .?T!U ffcJS* i# vA» «<-« > i irtli I 1 build on the beauty of an Ebel when you buy it at The Hour Glass.142 words
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Page 12 Miscellaneous
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Miscellaneous2511 1987-12-19 12 SIOIS TO WATCH Hoffman, Mehta and the Rockettes XOUR YOUNGSTERS on their way to Kiev |$r a holiday in 1941 are suddenly forced to •jrow up when Nazis invade their eastern Russian city in The North Star. Some dramatic battle sequences marred by uninter'Jfcting stretches of plot. Anne Baxter, Dana2,511 words
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Page 13 Advertisements
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Advertisement24 1987-12-19 13 paco rabanne pour homme IP v r :^ap IS &■> 'V m in' ii* I— What is remembered is up to you paco rabanne PARIS24 words
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Page 14 Advertisements
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Advertisement755 1987-12-19 14 NOTICES r.\ m 1 m >I*l I L 1 w g IN THI MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF JODIS PROPERTIES PTE LIMITED (IN VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Members of JODIS PROPERTIES PTE LIMITED duly convened and held at755 words
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Advertisement180 1987-12-19 14 OFFICIAL NOTICE PROPOSAL TO CHANGE OF SHIP'S NAME WE, KASMAN MARINE PTE LTD of 150 SOUTH BRIDGE ROAD #06-07 FOOK HAI BUILDING, S'PORE 0106 hereby (five notice that in consequence of our intended purchase of the barge "COMFORT MARINE 58". We have applied to the Registrar of Singapore Ships, under180 words
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Page 15 Advertisements
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Advertisement28 1987-12-19 15 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 0923.28 words
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Advertisement171 1987-12-19 15 SUCCESSFUL EXECUTIVES Are you looking for a change of career? A job that would bring you into contact with the best and brightest in Singapore, and put you at the very heart of business and economy? Then consider a switch to the fast-moving and stimulating world of business journalism. Put171 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration4137 1987-12-19 16 SELECTIVE bargain-hunting and short-covering helped the Singapore stock market to a slightly higher close yesterday, shrugging off a setback in Wall Street. On Thursday, the Dow Jones Industrial Average dropped 50.07 points to 1,924.40 as profit-takers beset Wall Street in moderate trading. The Straits Times4,137 words
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Article249 1987-12-19 16 SINGAPORE., iAAA Rises Od PloKoWam 390 MotokoH 230 U A C 177 Katawiy Spor» 1*2 MMro HMg> 462 How Par 235 M 750 Mtcap* 310 Or Da» JO* 200 Pas 50* 190 Sal Coeanwx 170 AmcoI 25* 113 Imoi 50* 400 Avfcae 20* 31S Falls Ayar IWw249 words
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Article3410 1987-12-19 16 SECTION ONE ■«mistrial COMMERCIAL Aaao (109 8) (441 107 II» 107 (9 106 0 1.09 Aawl Stool 30* (I 15 8) (91 I II (IS 1 12 Q9 1.13 II» I 14 0 I 13 (541 114 (139 I IS A«taw 30« 016 318 SI3,410 words
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Article262 1987-12-19 16 Managers' prices for D«c 19 and D*c 21 Singapore Unit Trust Tko Cowan tea OAS 091 Tha Sovm-jj Fund 074 079 S'pora frog Fund (tt4 0.38 S'pora $k Fund 0.57 041 S'por* Irnm Fund 041 0 M S'pora Equity Fund 040 044* Asia Unit Trust Mol bivast Fund262 words
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Page 16 Advertisements
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Advertisement10 1987-12-19 16 M onagers ust anage BT shows you how ©very Monday.10 words
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COMPANY NEWS
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465 1987-12-19 17 MBT THE KUALA Lumpur Stock Exchange is bracing itself for a heated debate over a thrice-post-poned proposal to introduce negotiated commissions for share transactions. Its members will meet in Kuala Lumpur today to consider among other things, a new committee, vote onMBT - 465 words
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Article151 1987-12-19 17 Reuter THE HONGKONG Futures Exchange is proposing a series of reforms, including increased capitalisation for members and tighter surveillance, to restore confidence to the market. The exchange, hit by defaults of about HK$l.B billion on Hang Seng Index Futures contracts after the the crash in stockReuter - 151 words
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Article195 1987-12-19 17 UPP rights 61.8pc subscribed UNITED PULP Paper Company Ltd has announced that at the close of its rights issue of 65 million new shares at 25 cents each on Dec 15, acceptances and excess applications totalling 40.16 million shares were received, representing approximately 61.8 per cent of the195 words
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Article, Illustration484 1987-12-19 17 AMY BALAN - By AMY BALAN MARINE-BASED Chuan Hup Holdings Ltd has tightened its grip on a US-based electronics company which will be used as a vehicle for further forays into the high technology business. The company recently doubled its stake in Printed Circuits International484 words
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370 1987-12-19 17 LISA LEE - Innovest plans to offer 33.4 m new shares to bumiputras By LISA LEE INNOVEST Bhd has proposed a special issue of 33.4 million new ordinary shares of $1 each to Malaysian bumiputra investors to increase their stake in the company to the 30 per cent required under the Malaysian government's370 words
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3810 1987-12-19 17 THE KUALA LUMPUR stock market forged ahead for the fifth consecutive session yesterday as investors pushed prices sharply higher in the afternoon. Scattered double-digit gains were recorded across the board in fairly active trading. The buying support lifted the 30-count-er New3,810 words
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Page 17 Advertisements
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Advertisement131 1987-12-19 17 NOTICE OF PREPAYMENT The Sumitomo Bank, Limited Singapore Branch U. 5.530,000,000 Callable Negotiable Floating Rate Certificates of Deposit No. *****1 *****0 issued on 16 January, 1984 Maturity 18 January, 1989 Callable in January 1988. Notice is hereby given that in accordance with Clauses 3 5 of the Certificates of Deposit131 words
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Advertisement70 1987-12-19 17 HARMONY AND PRECISION Pelikan Souveran M 800 Perfect precision of German craftmanship Handfmished finely chased 14-carat gold nib in 8 nib widths. With solid brass plunger pump filling mechanism and hermetic screw cap Pelikan Souveran Unigue with its harmony and precision Sbiikan 0 LS( Innrp Pelikan Singapore Malaysia Pie Ltd70 words
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Article, Illustration635 1987-12-19 18 ELAINE KOH - By ELAINE KOH AN AUDITOR who failed to spot bogus share transactions generating a fraudulent $11-million profit for a Pan-Electric Industries subsidiary has pleaded guilty to making a misleading statement in his audit report. James Tan Giap Hong, 38, former partner of public635 words
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Article, Illustration343 1987-12-19 18 AFP POLICE IN SEOUL clashed with students yesterday after a fierce pre-dawn battle to disperse 2,000 demonstrators who had seized a suburban district office on Wednesday during South Korea's presidential election. Some 1,000 students gathered at Yonsei University, then went to the plazaAFP - 343 words
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303 1987-12-19 18 COME JULY next year, Singapore and Hongkong will again be reviewed by the United Nations Development Programme Council to determine whether they should be moved from being net recipients to net contributors of funds. This was disclosed by Mr Andrew J Joseph,303 words
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Article335 1987-12-19 18 Reuter US HOUSE and Senate negotiators attempting to cut the US budget deficit have agreed to a US$23 billion package of tax increases over the next two years. The tax-writing panels for each chamber approved the package late on Thursday, after the details were worked outReuter - 335 words
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201 1987-12-19 18 AFP AP ARMED Forces chief General Fidel Ramos said yesterday that Filipinos can look forward to improved stability in 1988 after weathering a "traumatic year" of right-wing coup attempts and communist rebel attacks. In a Christmas message, he said the military proved in 1967AFP; AP - 201 words
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446 1987-12-19 18 Reuter MAJOR NATIONS may issue a statement this weekend reaffirming the need for currency stability, said Japanese government sources in Tokyo yesterday. The statement could come if the US Congress were to pass legislation cutting America's budget deficit. The statement would be issuedReuter - 446 words
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470 1987-12-19 18 LEE HAN SHIH - By LEE HAN SHIH Property Correspondent THE Housing and Development Board (HDB) incurred a net operating deficit of $966 million in the last financial year, an improvement of almost 26 per cent against the $1.3 billion deficit in the previous year. Figures470 words
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Article109 1987-12-19 18 THE PEOPLE'S Action Party has pushed back its party conference by two weeks to January 23-24 next year to give its branches more time to prepare their resolutions. The latest issue ot the party's publication, Petir, which announced the deferment, said branch resolutions were a new109 words
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Article92 1987-12-19 18 Reuter COMEX GOLD FUTURES sank on light selling against a firm dollar in early trading yesterday. The market temporarily ignored indications that NYMEX crude oil might recover some of this week's losses. February gold was off US$6.OO at U*****.70 an ounce but it held Thursday's low of U*****.00.Reuter - 92 words
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LATE FILE
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Article32 1987-12-19 18 AP THE Federation of Economic Organizations (Keidanren), yesterday asked the Japanese government to cooperate with other nations in stabilising exchange rates and preserving the free-trade system. APAP - 32 words
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Article39 1987-12-19 18 Bernama JAPAN yesterday became a signatory to the new International Natural Rubber Agreement 1967. A statement from the Japan information aervice says Japaneseambassador to the United Nations K Kikuchi signed the agreement atthe UN.— BemamaBernama - 39 words
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Article39 1987-12-19 18 Reuter THE EXPANSION and diversification of Indoneaia s non-oil exports will be supported by two loans totalling US$l5O million from the Aaian Development Bank, the first to approved under the bank's new program lending policy.Reuter - 39 words
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Article38 1987-12-19 18 AFP THE BRITISH government said yesterday it would block a hostile takeover bid by British Petroleum Co on Britoil PLC by using its so-called "Golden share" in the Glasgow independent oil firm. AFPAFP - 38 words
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Article36 1987-12-19 18 Reuter US broker E F Hutton Group Inc has laid off more than 300 out of soma 400 London staff, a t the company said. Serita*£fficials were not immedialPfrjujaiiabie to comment. FetifcrReuter - 36 words
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Article60 1987-12-19 18 AFP Britain's gross domestic product rose 2.2 per cent in the third quarter of 1967 from the second quarter, according to provisional figures released Friday by the Central Statistical Office. The rise exceeded analysts' forecasts of one to 1.5 per cent. GOP was up byAFP - 60 words
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Page 18 Advertisements
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Advertisement108 1987-12-19 18 Goldpfeil. This traditional name stands for highest quality all over the world. Our reputation began in Germany as early as 1856 when Ludwig Krumm began manufacturing cleverly designed and beautifully made purses and wallets for the Imperial Courts of Europe Today, connoisseurs of leather in more than 50 countries appreciate108 words
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