The Business Times, 20 February 1988

Total Pages: 16
1 16 The Business Times
  • 13 1 BUSINESS TIMES MCI (P) 95/12/87 Weekend Edition, February 20-21, 1988 75 CENT 3
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  • 219 1 AFP Dow Jones lower WALL STREET stocks showed little change in early trading yesterday. Selling pressure was light amid an absence of bids. The Dow Jones 30 was off one point at 1985 and a declining issues were matched by gainers. Reuter Footsie down LONDON shares remained
    AFP  -  219 words
  • 258 1 LAST-MINUTE buying of US dollars by speculators in the Tokyo foreign exchange market yesterday pushed the greenback above the resistance level of 130.50 Japanese yen. Dealers said short-term speculative dollar buying, coupled with the absence of a strong investor presence, kept the dollar
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  • 98 1 AFP AMERICAN companies in the Philippines are planning to invest US$6OO million in expansion programmes over the next three years, according to a survey conducted by the US Embassy's commercial centre in Manila. The survey, which covered 55 US companies that belonged to the country's top
    AFP  -  98 words
  • 286 1 WHILE the Tokyo stock market continued to push forward in a bullish phase, the Australian and Singapore bourses remained quiet but both managed to hold steady. Dealers in Singapore said superstitions about starting business on the third day of the Lunar New Year and
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  • 488 1  -  Concern over possible breach of bank secrecy laws By LEONG WEN WAH THE OFFICIAL LAUNCHING of the first nationwide shared automated teller machine network has run into yet another obstacle this one involving Singapore's bank secrecy laws. The five participating banks DBS Bank, Oversea-Chinese
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  • 333 1 MORE SINGAPOREANS should be given the chance of a university education, in the view of the Parliamentary Estimates Committee. The eight member committee, chaired by Mr Goh Chee Wee (Boon Lay), suggests that the Education Ministry review the admission policies of, and
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  • 516 1  -  By LOH HUI YIN SWEEPING CHANGES in the government's budgetary system have been proposed to make self-funded statutory boards more accountable to Parliament. In asking for these changes. Parliament's Estimates Committee says: "Parliament would be in a better position to examine the financial
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  • Page 1 Advertisements
    • 266 1 Nikon INSIDE SLOWER-PACED exports and a generally lower level of activity are expected from the Pacific economies over the next two years, according to an international market research firm. HOME NEWS, Page 2 US AMBASSADOR Nicholas Piatt said Filipinos should vote on whether to keep American bases in the Philippines,
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    • 0 1 ,|`$+;';{";->(@'_>[!%|:=<$>?'"|
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    • 127 1 Nikon l/<_ The grand Turkey trot Page 7 PIMIII TPM To catch a lobster Pag* 7 Summing up the dim-sum Page 8 TV programmes for today and tomorrow MS tt WttCH Miki Gorman, Ford and Hemingway P Page 8 A winner from head to toe Page 8 Tatler sings for
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  • HOME NEWS
    • 752 2  -  By MARTIN SOONG SLOWER-PACED exports and a generally lower level of activity are expected from the Pacific economies over the next two years, according to an international market research firm. In its February 1988 forecast on economic prospects for Pacific
      752 words
    • 451 2  -  By JEFFREY TSANG NEWS THAT a major refining plant is to be set up in East Java has not got the local petroleum industry worried. This is because local refiners have worked hard over the years to upgrade their refining capabilities and
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    • 38 2 IN OUR TWO-PAGE SPREAD yesterday on brokers' and analysts' views of the stock market in the Dragon Year, we wrongly described Hoare Govett Summit Securities as Hoare Govett Securities. We are sorry for the error.
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    • 178 2 A SEMINAR on the use of computers to solve problems that were previously solved by experts will be held on March 15 and 16. The seminar will focus on questions such as when expert systems are needed or useful, how to choose a pilot and how
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    • 235 2 FROM MARCH 1, new members who join the Central Provident Fund's Home Protection Insurance Scheme will have to declare whether or not they are suffering from terminal or serious illness, or physical disability. According to a CPF statement issued yesterday, a signed declaration
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    • 160 2 ARTISTS and graphic designers have been invited to join Telecoms's panel of stamp designers. A pre-selection exercise of stamp designers will be held by Telecoms. Those interested are requested to submit their dossiers and portfolios to the authority. Telecoms will be returning the portfolios. The
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    • 191 2 TELECOMS will release a new set of stamps next month to commemorate the Singapore Mass Rapid Transit System. Portrayed on the 10cent stamp is the MRT system which is a conventional electrically-driv-en railway system, 66km long and consisting of two main lines, a
      191 words
    • 89 2 THE SINGAPORE Institute of Management will be conducting a two-day seminar on Feb 29 on "Measuring Employee Performance" at the SIM Conference Room. The seminar will be led by Professor Patrick Fleen- or, a consultant in the area of employee performance appraisal. The seminar is aimed
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    • 215 2 TEN PROPOSALS have been made to the Singapore Tourist Promotion Board for the $8 million project to recreate Bugis Street. All the proposals are from local companies, a number of which are wellestablished in the food and beverage industry. An STPB spokeswoman said half
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    • 392 2  -  By LOH HUI YIN A NEUTRAL BUDGET, with no major pump priming measures, is in store for Singapore, predicts research firm ÜBS-Phillips Drew. Budget Day is just round the corner, with the Finance Minister scheduled to make his proposals next week for the
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    • 1166 2 AT CONVENTIONAL WHARVES VmmI Berth Arrival Departure KEPPEL WHARVES Aconcagua K18 alongside 2202/0600 Bangkok Novee K35 alongside 2202/0600 Boogabillo K09 alongside 22 02/0600 frotosontos K33 alongside 2002/0500 •Cowo Maru K20 alongside 21 02/2300 Koto Mutiora K3I alongside 24 02/0600 Koto Katna K32 alongside 2302/0600 Kris Melela K24E
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  • Page 2 Miscellaneous
    • 120 2 \£MGI Z//1 ////> Max/ Note Min (°C) 23/14 Fin* 08/04 Cloudy 09/04 Cloudy 20/15 Cloudy 31/23 Fair 29/23 Clear 07/-7 Clear 14/10 Sunny 04/00 Cloudy 05/01 Cloudy 20/17 Cloudy 05/00 Cloudy 28/18 Fin* 06/03 Cloudy 30/18 Cloudy 18/10 Cloudy 07/01 Cloudy 26/10 Fin* 27/15 Roin 04/06 Cloudy 03/02 Rain 31/25
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  • OVERSEAS
    • 392 3 AP THAI and Laotian forces have begun a truce along a disputed border area to try to end 3-1/2 months of bloody clashes, according to Thai officers. A half-hour skirmish occurred an hour before the truce went into effect at 0100 GMT (Friday), according
      AP  -  392 words
    • 109 3 Reuter THE UNITED STATES should ratify the international copyright agreement known as the Berne Convention to protect the creative activity of Americans, according to top administration officials. "No nation has as much to gain from copyright protection," Commerce Secretary William Verity told the
      Reuter  -  109 words
    • 963 3 ARRIVALS Operator Service Local From number time OA OA471 0015 ATH SIA SQ11 0115 IAX/NRT UA UA805 0120 SFO/HKG MAS MH619 0125 KUL CAl CI333 0405 TPE SIA SQ41 0610 MAA MK MK746 0725 MRU MAS MH601 0730 KUL MAS MH681 0820 KUL SiA SQ417 0820 DXB/KHI
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    • 380 3 AP ITALIAN PREMIER Giovanni Goria won a vote of confidence in the Chamber of Deputies on Thursday evening but his resurrected coalition appeared doomed by moves in his own Christian Democrat Party to find his replacement. The lower house voted 364-208. with
      AP  -  380 words
    • 386 3 UPI CHINESE Communist Party chief Zhao Ziyang failed to appear on Thursday for a third consecutive day for Chinese New Year festivities. leaving China watchers stumped at his unusual absence from public view for nearly a week. Mr Zhao. 68, not reported recently to
      UPI  -  386 words
    • 161 3 AFP TRADE and foreign ministers from General Agreement on Tariffs and Trade (Gatt) member states will meet in Montreal, Canada, in the first week of December, a Gatt spokesman announced in Geneva on Thursday. The conference, whose exact date and duration have
      AFP  -  161 words
    • 330 3 Reuter US AMBASSADOR Nicholas Piatt said on Thursday that Filipinos should vote on whether to keep American bases in the Philippines. adding that Washington would pull them out if that was what the majority wanted. Mr Piatt told a meeting of Philippine businessmen
      Reuter  -  330 words
    • 429 3 Reuter THE European Community's di-rector-general of agriculture yesterday called on all nations to share sacrifices in reforming world agriculture, and warned the EC would not go it alone. "The community will not continue taking measures in its own market and allow its partners
      Reuter  -  429 words
    • 230 3 AFP THE JAPANESE ECONOMY is still expanding, helped by rising personal consumption and a steady increase in private investment in plant and equipment, a government economic report said yesterday. The upward trend which began in August is still running, as expanding domestic demand has helped
      AFP  -  230 words
    • 548 3 UPI SOVIET leader Mikhail Gorbachev on Thursday called for a complete overall of the country's political system with the aim of reviving grassroots participation in government and making the work of its rubber stamp parliament more meaningful. Mr Gorbachev blamed Stalin-ist-era thinking for delays in implementing
      UPI  -  548 words
    • 251 3 Reuter SOUTH KOREAN President-elect Roh Tae-woo named seven incumbent ministers to his 22-man Cabinet, including two to key economic posts. Mr Roh, who takes power next Thursday from President Chun Doo Hwan, a close ally, promoted outgoing Trade and Industry Minister Rha
      Reuter  -  251 words
    • 96 3 AFP MOSCOW is weighing sanctions against Iran because of its refusal to endorse a United Nations ceasefire in the Gulf War, a visiting Soviet envoy told a press conference in Baghdad on Thursday. Oleg GrinevsKy said his country and other members of the UN Security
      AFP  -  96 words
  • Page 3 Advertisements
    • 64 3 fI \g Algf \J\ Ifl j/ The business person's choice, every I I II 111 1 Tuesday, Thursday, Saturday and I I 1 t\ \l II f Sunday. Leaving Changi Airport at I Vyl W I 1 y J 22:05 hours and arriving at Lester B Pearson Internationa! Airport the
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  • Page 3 Miscellaneous

  • MONEY AND EXCHANGES
    • 184 4 Reuter MOODY'S Investors Service Inc said it affirmed US$6.4 biilion of structured-finance issues that are backed by bank letters of credit. The agency said the action was taken in conjunction with the completion on Wednesday of its rating review of 10 major commercial banks that were
      Reuter  -  184 words
    • 1400 4 CURRENCY FUTURES OPTIONS Friday, February 19 988 DCUTSCHEMARK (SIMEX) Ma 88 calls Ma 8 1 H4gh Low Son High Low Sofl 54 CAB 55 CAB 56 3A 2 57 167 A 167 9A 7 58 81A 78 29A 27 59 29A 27 75 75 75 60 9 9 9
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    • 1656 4 Reuter Reuter SINGAPORE: THE US DOLLAR closed slightly firmer yesterday against most major currencies in thin preweekend trading on light shortcovering interest, dealers said. But most operators refrained from taking large positions in the absence of fresh factors. The closure of the Hongkong market yesterday for a holiday
      Reuter  -  1,656 words
    • 184 4 Indicates the average ol the prime lending rates ol 12 major banks in S'pore r Interbank market rates (offer/bid) on Feb 19 us$ DM SWFC Y«n 7 dors 6 13/1* 11/16 3/4 1/a n I ■v. 1 1/8 7/8 4 1/16 3 15/16 1 »w#> 6 7/8
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    • 58 4 THE OVERNIGHT rate on the Singapore interbank market tell 1% point to close at 116 per cent yesterday. One-month rose while two and three months were unchanged. S$ Interbank rates at 12 noon yester day: OffH MO Overnight «/a 1 I -monfti 2-month 3 3/16 1/16 3 3/16
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    • 80 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BID OFFER HIGH LOW 3 months 6 months 1 year BQ*****A BY*****S BY*****T 20.5.88 30.6.88 24.11.88 2.92 2.99 3.01 2.87 2.94 2.96 2.92 2.88 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code rate BID
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    • 348 4 Reuter ASIAN DOLLAR deposit rates closed steady yesterday at opening levels in quiet pre-weekend trading, dealers said. They said most operators were sidelined due to a general lack of interest and looking to next week's release of a batch of US economic data, including January durable goods
      Reuter  -  348 words
    • 460 4 MARCH Eurodollar yesterday opened one tick higher from the previous close at 93.02 following short-covering activities from overnight trading lifted prices. March Eurodollar edged higher from the low opening to the day's high of 93.05 on a firmer US dollar in thin and quiet trading as the market reopened
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    • 198 4 Reuter IMM foreign currency futures dipped in late trade on Thursday to post small to moderate daily losses Values had drifted to daily highs early on light local buying. General long liquidation ensued near midday and prices fell to fresh session lows as activity picked up. The selloff was
      Reuter  -  198 words
    • 96 4 Silver futures on Feb 17 5.000 troy ounces, us cants per troy ounce Open Mgti LM MM Fob 643.00 7 JO Mar 639.50 644 00 639 00 645.00 7J0 Ap» 646.90 7JO May 643.00 635.00 647.00 653.60 7 JO M 6S7.00 662.00 655.00 661.60 7 JO S*p
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  • Page 4 Advertisements

  • BANKING AND FINANCE
    • 491 5 UPI BAFFLED BRINK'S officials are investigating the embarrassing "loss"' of more than US$5 million that disappeared during a US$52-million cash shipment to Argentina from the Federal Reserve Bank in New York. The FBI as well as Argentine and Brazilian police also have joined the
      UPI  -  491 words
    • 154 5 Reuter FIRST Chicago Corps First National Bank of Chicago said it qualified in the first round for parts of Continental Illinois Corps consumer operations, making it one of 20 reported bidders. "We are interested in some of the properties. We are continuing to
      Reuter  -  154 words
    • 264 5 UPI FUELLED by soaring tendings to advanced nations, the outstanding overseas loans by Japanese institutions more than doubled in less than three years, the Finance Ministry reported on Thursday. The balance of overseas tendings by Japanese banks, insurance firms and securities companies totalled U*****.1 billion
      UPI  -  264 words
    • 326 5 Reuter THE BUDGET sent to the US Congress on Thursday by President Ronald Reagan a blueprint of administration economic and political priorities asks for new money for the World Bank while closing down funding for the Inter-American Development Bank. At the
      Reuter  -  326 words
    • 505 5 Reuter DEBTORS who regard Mexico's bonds-for-loans plan as a cure-all (or the Third World s debt crisis had better think again, US officials warned. The plan, which could reduce Mexico's US$lO3-billion foreign debt by as much as US$lO billion, would not end the
      Reuter  -  505 words
    • 490 5 Reuter THE BANK of England, alarmed by reports from securities firms that their correspondent banks were cutting or refusing to extend credit lines in the weeks after the stock market crash, ordered the banks to make funds available to them, industry
      Reuter  -  490 words
    • 122 5 Reuter CANADA'S state-run Export Development Corp said that in its largest foreign insurance deal ever it has agreed to insure Placer Dome Inc's investment in a US$lBO million gold and silver mine on Misima Island in Papua New Guinea. The Corporation said
      Reuter  -  122 words
  • COMMODITIES
    • 598 5 From plywood to rattan Jakarta eyes top spot AFP SEVEN YEARS AGO, Indonesia .threw Asia's tropical plywood industry into disarray, phasing out log exports and going for broke for the position of the world's number one plywood exporter. Taiwan, Japan and South Korea, all major plywood producers dependent on Indonesia
      AFP  -  598 words
    • 91 5 Bernama ES MALAYSIA'S crude palm oil (CPO) production in January was 264.690 tonnes, down 2.6 per cent compared with the January 1987 output of 271,771 tonnes, the Statistics Department said yesterday. CPO imports mainly from Indonesia rose to 1,132 tonnes in January
      Bernama ES  -  91 words
    • 81 5 MOST product market prices in the Far East took a tumble. Only naphtha firmed on reports of tight supplies coupled with strong demand for 16-31 March and 1-15 April barrels. US$/barr*l Chang* Dubai (April) 14.65 Wwt T*xot Inttfwi diott, WTI (April) 16 46 Products (FOB S'pore) US$/barr*l
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    • 186 5 Reuter SOYBEAN futures sold off sharply on the Chicago Board of Trade on Thursday to close down 4-1/2 to six cents per bushel after setting new contract highs in the new crop months. March settled at US$6.2B- A local professional house bid up November after midday, but sales in
      Reuter  -  186 words
    • 208 5 TOKYO: YEN-DENOMINATED gold futures yesterday closed four to seven yen per gram easier, but ended above their lows in tfiin trading. Prices jumped briefly in early afternoon sessions. A bearish tone overshadowed the market all day. Local bullion was U*****.00/443.50 an ounce in late trade against 442.75/443.75 at
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    • 176 5 Reuter WHEAT FUTURES eased further on the Chicago Board of Trade on Thursday in sympathy with a late selloff in soybeans after trading lower most of the day. closing near the lows with losses of six to 1-1/2 cents per bushel in light trade. Reports that overnight export bonus
      Reuter  -  176 words
    • 75 5 SINGAPORE Closed MALAYSIA Closed TOKYO RUBBER FUTURES yesterday closed firmer in extremely thin trading due to the quiet tone in the Singapore market and the lack of fresh incentives, dealers said. Prices were 0.5 to 1.1 yen per kg higher. Prices rose on followthrough buying from Thursday and small-lot
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    • 101 5 Reuter THE PRICE of tin on the Kuala Lumpur Tin Market yesterday rose a cant from Monday's close to and at M 517.24 a kg on continued buying demand, dealers said. Bids totalled 102 tonnes at the opening but sellers were not keen as some miners had sold
      Reuter  -  101 words
    • 238 5 Chinese Produce Coffee Exchange API FOB NSW 480.00 AP2 FOB NSW 415.00 Sellers noon doting prices on EK1 FOB NSW 425.00 Fob 16 (SS/100 kg) Robutta 20/25% Coconut oil FOB NSW 375.00 Bulk FOB 112.00 Nutmeg Old drum FOB 126.00 110 FOB NSW 1455.00 New drum FOB 122.00
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    • 305 5 London May 195.2/195.4 Commodity Exchange High/Low Sales Raw No 6 OF 197.8/191.4 (2762 225.20 (226.40) Buyer/Seller doting prices on No 6 FOB 192.20 (193.40) Feb 18 (£/torwv» uni< tss specified). White No 5 232.20 (233.50) Previous dosing prices in porenthesis. Oilt (USS/tonne) Coffee Palm oil M'sion crude CIF
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  • Page 5 Advertisements

  • PERSPECTIVE
    • 470 6 EXCESSES might or might not be part of any committed activity, but sometimes they seem excessive. As what must surely be seen as an excessive commitment in the proper race against racism, the British composer Benjamin Britten's Let's Make An Opera this week was
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    • 2003 6  -  Selling beauty is big business as much as $700 million in annual sales, according to industry estimates. Recession or no, women have continued to buy some of the major cosmetics brands in the market, leading to steadily climbing profits for the agents and distributors. GENEVIEVE
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    • 264 6  -  Letter to the Editor Simon Lim Director Chesterton International Property Consultants Pte Ltd Dear Sir I refer to your article "Estate management graduates: Be ready to work abroad" in Business Times dated Jan 28, 1988. Employment prospects and job security for graduates of
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  • Page 6 Advertisements
    • 129 6 M onagers ust anage BT shows you how every Monday. Scalpel...scissors...sutures... Business Times Whether you're a surgeon, lawyer, contractor or engineer, you need to be kept well informed to maximise returns on your money. In the same way a surgeon needs his tools to operate, he needs Business Times to
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  • Page 6 Miscellaneous
    • 23 6 IBriSto^PianJdiiclaa^ Th£ DOCR ON TH£ L£pr IS Twe BRoom CUPgOARD ~~Q3\ /'O—s Eiss THAT l-L Be BR/stou) €.lGt"lT££:N-rH lis/ L|/s/£ PqP chicf Buygfi....
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    • 744 6 CRYPTIC PUZZLE ACROSS 9 It's rather hard to climb, dear (1, 3. 5) 10 Treadmills or the rut one is. perhaps, in (8) 12 Fish you never see in a school? (4) 13 Complain when he backs in after you (6) 14 Improves, one finds (5, 2) 15 Be quick
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  • Executive Lifestyle
    • 234 7 CRIME, according to a private apartment block in Killiney Road, takes a lunch break. When a BT journalist needed to collect a package from a resident whom he couldn't meet, he asked that the package be left with the security guard. Collecting the package during lunch
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    • 856 7  -  PtA4<0*^ Witt ROSIE TAN MY DIVER FRIENDS laughed when I surfaced one August afternoon with a lobster as long as my forearm and declared proudly I had caught it with only my gloved hands. I cannot say I blamed them for being sceptical after I took
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    • 1573 7  -  By TSANG SAU YIN THE HAUNTING, silvery sounds of Kitaro's synthesizer complements perfectly the passing landscape before my eyes. Like the poetic, lyrical music pouring from the tape, the snowy scene stretches into the undulating far horizon to merge with the snowcapped Taurus Mountains of Central
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    • Executive Lifestyle: Entertainment & the Arts
      • 537 8 FOOD By THE FOOD TEAM LOOKING for a classy Chinese restaurant to entertain your best customers? Pause here. If you're one of those with generous expense accounts, or a fat wallet, we suggest the Hyatt Regency's Ruyi. It's where Hugo's Grill once was, down the sleek
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      • 398 8 e The Blue Mosque with its distinctive six minarets is a striking example of classical Turkish architecture. Built by Sultan Ahmet I, early 17th century, the mosque is named after the dominant colour of the paint and tiles of its interior,
        398 words
    • Executive Lifestyle: Entertainment & Pursuits
      • 770 9  -  MEN By MONICA GWEE BEFORE HAIR GEL became a trendy product, most male heads relied on Brylcreem and Tancho. Hair care products for men were not known as "styling aids" then, but were used liberally to create high shine, a "dip" or an Elvis
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      • 615 9  -  THEATRE II is By Charles Savage THE CONCEPT of sponsorship in exchange for promotion has been extended to the local theatre, with Singapore Tatler magazine being among the first to do so. As a result, Tatler Theatre Supper Club has been formed to provide a
        615 words
      • 623 9  -  PROFILE By MARTIN SOONG JAZZ WARHORSES like Eldee Young, he's hung out with some pretty bad cats in his time. Keep Leonard Feather on the bookshelf. This is walking history we're talking about. "Yeah, I've seen some greats come and go," says the Chicago bassist
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      • 295 9 SHORTTAKES THE DINNER-THEATRE season begins afresh with Shangri-La teeing off with playwright Alan Ayckbourn's Bedroom Farce on March 2. The most familiar face in the cast of this Derek Nimmo production would undoubtedly be Barry Evans, the hapless Mr Brown of Mind Your Language fame.
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      • 491 9  -  NEW GEAR CONTEST By CHARLES SAVAGE "SHE LOOKS at other guys but I don't mind, because she keeps an eye out for the latest fashion to keep my dressing up to date." Michael Lim and his wife, Yung Nee, look at each other
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      • 721 9  -  Compiled by Sakina Dhilawala CINEMA: Extreme Prejudice starring Nick Nolte. Showing at Cathay: 11; 1.30: 4; 6.30; 9.15. Protect X starring Matthew Broderick and Helen Hunt. Showing at Orchard: 11; 1.30; 4; 6.30; 9.15. Wraith starring Charlie Sheen, Nick Cassavetes and Sherilyn Fenn. Midnight show tonight at Capitol and
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    • Executive Lifestyle: Sports
      • 460 10  -  By WALTON MORAIS CHARGING that this was the most important season in his career, M Marimuthu fired a course record 67 en route to a three-stroke triumph in the BP Circuit monthly golf championship at Warren yesterday. Out of a job and out of
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      • 280 10 BOXING AFP THE ARRIVAL of undisputed heavyweight champion Mike Tyson in Tokyo has boosted stock prices of the company which owns the arena where he will stake his title next month. Korakuen Co Ltd, owner of the new Tokyo Dome, saw
        AFP  -  280 words
      • 245 10 ATHLETICS UPI JACKIE JOYNER-KERSEE, focusing on the long jump this indoor season, is just a "moment away" from establishing a world record in the event, her coach and husband says. Joynec and her husbandcoach, Bob Kersee, both say that moment could come yesterday
        UPI  -  245 words
      • 558 10  -  RACING on TMCK with Jerome Fandor TRAINER Malcolm Thwaites has had much success with his preference for acquiring unraced horses from America. Two that face the starter this weekend have already started to return their owner's investment. Sunday Guest has run but once on
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      • 399 10 GOLF AP FRED COUPLES capped a nine-under-par 63 with a birdie-bird-ie-birdie finish on Thursday to take the opening-round lead at the U*****,000 Andy Williams Open Golf Tournament. Couples, who lost the Phoenix Open in a playoff earlier this year, birdied 10 of
        AP  -  399 words
      • 583 10 WINTER OLYMPICS AFP FOR THE second day in a row, gale force winds blew away the carefully prepared Winter Games programme, refuelling the continuing row over the sites chosen. Both the women's downhill and the 90-metre ski jump had to be postponed in Calgary on
        AFP  -  583 words
      • 237 10 Reuter AMERICAN Dan Jansen, hurt by a double heartbreak last Sunday, met disaster again in his last chance for a 1988 Olympic speed skating medal in Calgary on Thursday. World sprint champion Jansen, who had put aside personal grief over his sister's death to try
        Reuter  -  237 words
      • 329 10 TENNIS AP THE FIVE SEEDS playing on Thursday in the Stella Artois Milan indoor tournament swept into the quarterfinals of the US$5OO,OOO competition. France's Henri Leconte defeated Soviet Andrei Chesnokov in 7-6, (7-5), 6-4. in what most people rated the most exciting match so far in the
        AP  -  329 words
      • 663 10  -  BRIDGE fry MIKE THUMBA DURING THE LAST few weeks we have been discussing some interesting hands taken from the First Epson World Bridge Championship, mainly for the benefit of average players. The hands we are about to discuss come from the Second Epson World Bridge Contest. In the
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    • Executive Lifestyle: Personal Investment
      • 1022 11 FOREIGN EXCHANGE BEGIflflER'5 a cnnnERWm Reuter THEY CALL HIM "the butcher". He is grey-haired and only 34 years old. But London currency trader John Dewhirst can earn his bank more than US$l million a day by playing the foreign exchange
        Reuter  -  1,022 words
      • 870 11  -  BONDS By RAMESH CHANDIRAMANI IN THE WAKE of the October stock market crash, most analysts are recommending portfolios that favour bonds over equities, and many fund managers are adopting such a strategy. The typical argument stressing the need to be overweighted in fixed-income
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      • 383 11 EDIBLE OILS Keeping tra<k.«. Reuter THE TREND for edible oil prices this year appears to be turning upward thanks to a significant decline in world stocks, the first since 1983. "What is making 1988 particularly interesting already is that the October 1987-September 1988
        Reuter  -  383 words
      • 1007 11 A STUDY IN DIVERSIFICATION mm w THE LAST 18 months have turned out to be an extremely busy period for Chuan Hup Holdings Ltd. The management, in quick succession, completed a major financial restructuring involving a $60 million rights issue and a US$2B million floating
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      • 244 11 ART TRADE THE OUTCOME of last week's sale in London gave a clear indication of the current market climate ahead of the more important series of spring sales. Good results in a number of key sectors showed a sustained, steady performance with only one
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      • 383 11 Gold loans the tarnish and the shine PRECIOUS METALS Reuter ONE OF THE reasons cited two weekends ago for gold's failure to perform lately was the fact that more and more of the precious metal kept coming into the market, rather than remaining in storage. Part of the selling pressure
        Reuter  -  383 words
      • 338 11 pfpcra RC LAST WEEK'S call that a nearterm rally was likely for the Singapore stock market proved correct. But were it not a holiday-shortened week, the local stock market would probably have done better than the modest 16.87 points it
        RC; Source: Chartamatic  -  338 words
  • Page 7 Advertisements
    • 18 7 FOR THE CARD THAT OFFERS YOU FREE TRAVEL INSURANCE OF US>5O,OOO, CALL 532 3577 CHASE CLASSIC VISA 6435*
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    • 215 7 Timeless values. These two exquisite watches, in the shape of peaches, are called «For China». The craftsmen of Geneva were renowned for their mastery of enamel and these watches are a triumph of their art. By their efforts the subtle gradations of colour found in the skin of the fruit
      215 words

  • Page 8 Miscellaneous
    • 1612 8 Miki Gorman, Ford and Hemingway Movies Kathleen Quintan stars in Independence Day, an interesting but unfocused movie about a young woman who hankers to leave her stifling hometown but held back in part by her relationship with a car mechanic. More interesting is a sub-plot about battered wife (brilliantly played
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    • 1048 8 Saturday £^bbc 88.9 mHz In VHF Band II 6AM World News 6.09 The World Today 6.25 A Letter from Northern Ireland 6.30 Financial News MO Reflections. 0.45 Sports Roundup 7.00 World News 7.00 Commentary 7.15 From the Weeklies 7.30 Multitrack 3 8.00 World News 8.08 News about Britain 0.1 S
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  • Page 11 Advertisements
    • 28 11 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.
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  • STOCK EXCHANGE OF SINGAPORE
    • 4130 12 SUPERSTITION rather than speculation reigned yesterday on the Singapore stock exchange as trading shrank to an all-time low just a day after the Lunar New Year holidays. The superstitious among the Chinese, who strongly believe that it's bad luck to start business on
      4,130 words
    • 180 12 SINGAPORE Rises Indlc«t Fab 16 3 Fob 19'' M lnwhn MO SO •T CompodM 777.02 700.99 IM nantaMam 304 24 IT Ot/OS -37 -15 Swgrt-le 4M 1« IT CAO •7054 -7030 MTC7k 336 u •T 10-day M/ k -7177 -7179 M 450 12' •T OiV 11$9479 *****73
      180 words
    • 2353 12 BID and offer prices nffirtoiiy listed and hntlnees In and reported to the Stock Exchange d Singapore yesterday with the number at shares traded shown in brackets in lots of 1,000 units unless otherwise specified. SECTION ONE MDUSTRIAL COMMERCIAL Aono 11.11 B I 20$) Ako«
      2,353 words
    • 272 12 Manogers' prices Japan Gr Fund 1 49 114 for Feb 20 22 Slxnton Thott Fund 080 080 Singapore Unit Trust (JOB Management Lbuhxd 081 041 Th* Co*m*rc* 090 096 Un.bond 099 IjOIS Th* Savings Fund 079 08S S pO'« Prog Fund 036 040 MARA-Bumiputra S'por* W Fund 0.61
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    • 505 12 LAST FULL YEAR Company Period Daw Year Net EPS Grow Nat onflowctd ending (cental dtv profit last yeor (svoo) LA 1 Interim Jul 21 Sep 87 169 230 2.907(g) Tokyo Land Interim Aug 22 Sep 87 3.0 9771(d) Duta Com Final Aug 28 Dec 86 4.8481 Fed Cablet
      505 words

  • COMPANY NEWS
    • 543 13 woa mm*** HOCK LOCK SIEW LIKE THE REST of the share market, premier stock Singapore Airlines is finding that daily volume has dwindled considerably in recent weeks. With the exception of a short, sharp burst of activity on Feb 4 when there was some relatively
      HOCK LOCK SIEW  -  543 words
    • 384 13 NYT THE Ford Motor Co on Thursday reported a profit of US$4.6 billion for 1987, an increase of 39.4 per cent from US$3.3 billion in 1986 and the best earnings ever for a car company. However, analysts said Ford's fourth-quarter
      NYT  -  384 words
    • 623 13 American Standard acts to foil B D bid NYT IN A MOVE to thwart an unwanted takeover offer from the Black Decker Corp, American Standard Inc said on Thursday that its directors had approved a complex recapitalisation plan that was financially superior to Black Decker's cash offer of US$65 a
      NYT  -  623 words
    • 515 13  -  Hearing before Senior District Judge E C Foenander By ROSIE TAN THE TRIAL of banker-turned-dealmaker Allan Ng Poh Meng on a charge of insider trading was fixed yesterday for July 13 to 31. Senior District Judge E C Foenander
      515 words
    • 275 13 QAF LTD will soon see three additional directors elected to the company's board from its new shareholder-to-be Watford Investments Ltd. Confirming an earlier BT report, QAF yesterday announced that it had been notified by its majority shareholders, Parkwood Investments for Pengiran Anak
      275 words
    • 149 13 PENTAPRINT Services Re Ltd, a wholly-owned subsidiary of Dah Yung Investment Ltd, has sold off its factory and property at Senoko Drive for $1.5 million. The sale resulted in a net book loss of $2 million which has already been accounted for
      149 words
    • 157 13 Reuter CLUB MEDITERRANEE. whose share price has soared 33 per cent since last month on speculation of a takeover bid, said water utility Lyonnaise des Eaux and Japan's Seibu Saison group had each taken friendly stakes of 3 per cent in the group. Club
      Reuter  -  157 words
    • COMPANY BRIEFS
      • 101 13 TANG ENG Re Ltd has ceased to be a substantial shareholder of First Capital Corp from Dec 2, 1987. In an announcement yesterday, FCC said prior to that date. Tang Eng Pte Ltd held not less than 15pc of the voting shares
        101 words
      • 27 13 AMALGAMATED Industrial Steel Bhd has appointed a new board director, Tan Sri Dato' Mohd Yusof bin Abdul Rahman with effect from Feb 11.
        27 words
    • 389 13 Reuter THE SHARE PRICE of the Thai Fund, a new closed-end fund with equity investments in Thailand, has risen 35 per cent since the shares were offered to the public on Feb 16. The initial offering was priced US$l2 per
      Reuter  -  389 words
    • 40 13 Company SONUS ISSUE A|ino<noto On* for-hv* E« dot*: Mar 4 Books clos* Mo- 10 Kg lanjut On* for three Shor* tpht of $1 SO par into shores of $1 eac* Ex do**: Jon 77 Books close f*b 20
      40 words
    • 303 13 Company RIGHTS ISSUE AMDS One-tor-four $050 per stare C 1 Holdings 27 million loon stocks in the ratio of (3 loon stock for every five ordinory shores held Du»o Cons One-for one $1 10 per shore F A C B One-for-one JO 60 per shore Hexza Corpn One-for
      303 words
  • Page 13 Advertisements
    • 283 13 ADVERTISEMENT IT'S ABOUT TIME Given its central location, Singapore is now the courier hub of the Asean region. But the Republic has the potential to join the ranks of big courier service centres such as London, Schipol, Hongkong and Tokyo. It can be a link between the East and West.
      283 words
    • 107 13 TAT LEE BANK LIMITED (Incorporate) in the Republic of Singapore) LOST SHARE CERTIFICATES The undermentioned rfwa certificates have been reported lost by tha regit tared shareholders: Certificate No. In the Name of No. of Stiarae *****940 Mr Goh Ean P.en 300 *****941 Mr Goh Ean Pun 50 *****069 Tan Soy
      107 words

  • WORLD MARKETS
    • 335 14 Reuter JAPAN'S top car makers may limit exports to South Africa because of pressure from government officials embarrassed by growing trade with Pretoria. "Toyota will act prudently in exporting to South Africa,"' a Toyota Motor Corp spokesman said, adding that it
      Reuter  -  335 words
    • 852 14 New York Reuter A LATE afternoon round of arbitrage-related sell programs combined with disappointment over Ford's earnings to push Wall Street to a lower close in light volume on Thursday. The selling was underscored by the general discomfort with the economy amid
      Reuter  -  852 words
    • 868 15 London Reuter STOCK PRICES on the London market were narrowly lower at the opening yesterday but dealers reported trading volume continued lacklustre with no major news emerging to move the market. Traders took their cue from the New York market which again
      Reuter  -  868 words
    • 439 15 NYT T BOONE PICKENS, the Texan oilman and corporate raider, has notified Texaco Inc that he is seeking clearance from antitrust regulators to buy up to 15 per cent of the company. Texaco said on Thursday that it was not clear
      NYT  -  439 words
    • 213 15 FT THE KUWAITI government, which owns almost 20 per cent of of British Petroleum. has refused to give an undertaking that it will stop buying shares in the company, it was disclosed on Thursday. Sir Peter Walters BP Chairman said that he had recently held talks
      FT  -  213 words
    • 532 15 Reuter THE AUSTRALIAN share market closed barely steady yesterday, recovering most of the losses sustained in early trade in response to falls on offshore markets and softer bullion prices overnight, brokers said. "The market held up remarkably well considering Wall Street's Dow Jones was off 14 points overnight," one
      Reuter  -  532 words
    • 166 15 Reuter THE SECURITIES Exchange of Thailand Index rose 6.03 points yesterday to 353.97 on a turnover of 11.637,216 shares valued at 929.27 million baht FtB 1* BAHT Ao Kham Thai 230 12 Ayudhya Investment 354 6 Bangkok Agro-lnd 95 3 Bangkok Bank 337 4 Bank CM Ayudhya 342 ♦6
      Reuter  -  166 words
    • 60 15 NYT HEWLETT-PACKARD Co on Thursday reported improved revenues and earnings for its first quarter, ending Jan 31. It also said order levels were the highest for any quarter in the company's history. Hewlett-Packard's net earnings totaled US$l79 million, up 54.3 per cent from US$ll6 million,
      NYT  -  60 words
    • 470 15 Reuter PRICES on the Tokyo market bounded higher yesterday in late trade on bullish sentiment after a mixed showing most of the day. to chalk up the market's seventh straight gain. The Nikkei Index climbed 98.05 to close at 24,773.41. On Thursday it gained 245.41. Advances led declines four
      Reuter  -  470 words
    • 133 15 FEB It WON *h Kal ***** 1000 Kangwon Ind ***** 1400 Chaii Sugar Kia Motor ***** 1600 ***** •100 Kolon Ind ***** 600 Daelim ind ***** -800 Korea Long Term ***** unch Daewoo Corp ***** -200 Lucky Ltd ***** 1300 Daewoo Heavy ***** 800 Oriental Brewery ***** 700 Daiaitin
      133 words
    • 86 15 FEB 1* 1 Acota Mining >csos *1Marataai Oiamai B Ptxi Ovrwu 0 0*2 0 041 0» unch ■0 001 unch Anglo Pt*il Apei Mining B Attn Con B Bagnio Gold Banc Patrol aum 0 CM 28 0 017 ♦0 001 ♦15 ♦0001 P«cop B PLOT San Migua* B Saat'oot
      86 words
    • 1162 15 Selected indices HONGKONG Hongkong Index Friday Closed Thursday Closed Wee* ogo 1,494 25 All Industrials Friday Thursday Week ogo NEW YORK 1,993 1 1.991 4 1 939 8 Hang Seng Index Friday Closed Thursday Closed Week ogo 2,287 23 Dow Jones Thursday Wednesday Week ago 1.986 41 2.***** 1.961 54
      1,162 words
    • 149 15 FT THE WEB of alliances around Societe Generate de Belgique grew thicker and more complex on Thursday when Royale Beige, Belgium's second largest insurer, confirmed that it had sold a small but significant stake in Societe Generate to Banque Generale du Luxembourg. The move,
      FT  -  149 words
  • Page 14 Advertisements
    • 311 14 4 CQURyoISIER XO-Where to eat, drink.. A symbol of vitality and strength. A year of good fortune, success and happiness Savour our good luck raw fish from Feb 18 to Mar 2, and get a hongbao of surprises as well as a chance to win over Si million worth of
      311 words
    • 127 14 EAST MEETS WEST Daily Buffet at the Dondang Sayang t W X" -v -r -r Enjoy the best of both worlds, 'East Meets West' daily buffet. Salads, cold cuts, roasts curries, satay, noodles and many more dishes you will find irresistable. Coffee or tea is included to complement the meal.
      127 words
    • 180 14 UNIQUELY HYATT Brannigan's is a pub unlike others it specialises in fun! Cocktails, snacks. Sunday jazz jam sessions and pub games from the world over, await you in the basement of the Hyatt. Opening hours: 11.00 am to 1.00 am No ties, please Live entertainment *7 S I Sc; A
      180 words
    • 250 14 Come try our Special Raw Fish Salad for lunch or dinner. At $18++ (large) or $12+ (medium) per portion from 10 Feb. to 2 March. And toss up a heapful of luck. For reservations, call *****11. Plaza Hotel SINGAPORE WA*K«COLOCItF<JI •INVITING Beach Road Singapore 0719. ENJOY THE LUXURIES AT HAWKERS'
      250 words
    • 215 14 JustrianFest From the land of' 'The Sound of Music'' comes another art form delicious food like Wienerschnitzel, Fiaker goulash, fttprika Chicken, sausages, salads, apple strudel, Sacher Cake. Emperor's pancakes and much, much more! At $31 for adults and $15 for children, we're sure you'll enjoy the feast as much as
      215 words

  • Page 15 Advertisements
    • 451 15 and entertain 6 (IfttU A Sunday Brunch: A great family outing. It's a wonderful way to combine a late breakfast with an earty lunch on a lazy Sunday. Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roast... right through to pastries, puddings, fruit salad and
      451 words

  • 260 16 THE GOVERNMENT is to seek Parliament s endorsement for implementing its Agenda for Action, a blueprint outlining the goals and challenges facing Singapore in the years ahead. The agenda, agreed on after months of extensive public discussions. essentially spells out how the People's Action Party's
    260 words
  • 351 16 AFP Bernama ELEVEN political opponents of Malaysian Prime Minister Mahathir Mohamad are to appeal to the Malaysian Supreme Court against a ruling that their United Malays National Organisation (Umno) is illegal. Their lawyer, Mr Muhammad Shafee Abdullah filed a notice of appeal
    AFP; Bernama  -  351 words
  • 145 16 AP AUSTRALIAN Prime Minister Bob Hawke yesterday announced a freeze on new uranium exports to France on the eve of a visit by French Defence Minister Andre Giraud. The government also said it was investigating claims by the West German magazine Der Spiegel that
    AP  -  145 words
  • 617 16  -  Committee suggests ways to promote shiftwork By CHUANG PECK MING MAKE SHIFTWORK more acceptable by calling the unpopular third shift the "sunrise" instead of the "graveyard" shift, says a tripartite committee report. "Sunrise" is more positive and its usage should be encouraged
    617 words
  • 388 16 EMPLOYERS say workers shun the night shift mainly because they think it has low status and because they are reluctant to try out new work patterns. But workers say they do not
    388 words
  • 106 16 Reuter GOLD FUTURES yesterday dropped back to unchanged after losing minor gains made on early buying generated by the dollar's downturn on Swiss Bank president Pierre Languetin's remarks that a further dollar fall could not be ruled out because of continuing trade imbalances. April gold held
    Reuter  -  106 words
  • 407 16 Reuter INDONESIA's outgoing armed forces chief General Benny Murdani, in an apparent move to put Jakarta's strained ties with Canberra on a realistic level. says he does not consider Australia a threat to his country. He told Indonesia's Parliamentary Defence Commission on
    Reuter  -  407 words
  • 338 16 AFP THE INDONESIAN Armed Forces (ABRI) plans to stay in politics but it will not drag the nation into militarism, future ABRI commander General Try Sutrisno has said. General Sutrisno, who is due to be officially appointed com-mander-in-chief by President Suharto
    AFP  -  338 words
  • 194 16 AP DIVERS yesterday said they found silver bullion on the wreck of an early 18th century Dutch trading ship that sar.k off Western Australia 76 years before Europeans settled the island continent. "We've also raised cannon and ceramics but a lot of the stuff
    AP  -  194 words
  • 591 16 Resist siren song of protectionism Reagan Reuter PRESIDENT Reagan said yesterday the economy of the US is poised to continue growing for years to come but the country has to cut its budget deficit and resist the "siren song" of trade protectionism. His annual economic report to Congress painted a
    Reuter  -  591 words
  • LATE FILE
    • 37 16 Reuter US SECRETARY of State George Shultz is flying to Moscow this weekend hoping to rescue faltering superpower arms control negotiations and help speed a peace settlement and Soviet troop withdrawal in Afghanistan.
      Reuter  -  37 words
    • 35 16 AFP THE STRUGGLE between the superpowers was a major obstacle to the true progress of underdeveloped countries. Pope John Paul said in a major encyclical on social justice issued yesterday. AFP
      AFP  -  35 words
    • 60 16 AFP THE BRITISH car industry faced two new industrial disputes yesterday following the settlement of the two-week Ford-UK strike. Workers at the Vauxhall car plant in Ellesemere Port, northern England, rejected a new pension scheme proposed by the management, while talks over a new
      AFP  -  60 words
    • 49 16 AFP AEROSPACE Technologies Australia Ltd yesterday proposed a A 54.5 billion joint venture with France and China to build a new helicopter for the 21st century. A preliminary agreement was reached with Aerospatiale of France and China Aerotechnology Import-Export Corp at a recent meeting in Marseilles. AFP
      AFP  -  49 words
    • 38 16 AFP CHINA is to extend housing reforms aimed at abolishing the subsidised system of low rents to about 70 cities by the end on the year, the official China Daily reported yesterday. AFP
      AFP  -  38 words
    • 41 16 AFP INDONESIAN Foreign Minister Mochtar Kusuma-Atmadja said yesterday that Soviet readiness to meet former Cambodian monarch Norodom Sihanouk had boosted the prince's position as a key figure in efforts to solve the nine-year-old Cambodian problem. AFP
      AFP  -  41 words
    • 37 16 AFP NEW CALEDONIA'S leading separatist group began a two-day congress yesterdy to map out its strategy for a boycott of regional elections to take place in this French Pacific territory on April 24.
      AFP  -  37 words
  • Page 16 Advertisements
    • 4 16 Reagan's budget, Page 5
      4 words
    • 171 16 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. Put
      171 words