The Business Times, 16 June 1990

Microfilm: NL17024
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES MCI (P) 170/12/89 Weekend Edition, June 16-17 1990 75®
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Dow Jones lower
      41 1 US SHARE prices tumbled in the first five minutes of trading on Wall Street yesterday. The Dow Jones average of 30 leading industrials was ofT 10.64 points, to stand at 2,917.57 points, five minutes after the opening bell.
      41 words
    • Article
      Footsie lower
      39 1 LONDON share prices were lower at midday yesterday, following the release of poor British inflation figures. At about 1115 GMT, the FT-SE 100share index was down 7.9 points, or 0.3 per cent, at 2,395.1, its session low.
      39 words
    • Article
      UK retail up
      33 1 BRITISH retail prices rose by 0.9 per cent in May, taking year-on-year inflation to an eight-year-high of 9.7 per cent from 9.4 in April, the Central Statistical Office said yesterday.
      33 words
    • Article
      Translation program
      37 1 SINGAPORE'S role as a regional software centre received a boost yesterday when computer giant IBM and the Institute of Systems Science signed an agreement to work together to develop a computer-aided translation program. Page 2
      37 words
    • Article
      Odds against Metro
      47 1 DESPITE record profits and turnover from its retail business, Metro Holdings was let down by its construction arm .and reported a 22 per cent drop in group profits after tax and minorities to $8 million for the year ended March 31, 1990 Page 3
      47 words
    • Article
      Record profit
      21 1 BANQUE Internationale a Luxembourg a Singaporebased merchant bank reported a record before-tax profit of $3.1 million last year. PageS
      21 words
    • Article
      Boom town Asia
      35 1 ASIAN NATIONS are receiving more in investment from one another than from Europe or North America, fuelling a boom likely to make Asia the world's fastest growing region this decade Page 6
      35 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 791.01 +2.36 Kuala Lumpur ....575.52 -0.64 Hongkong 3,201.52 9.97 Tokyo 32,538.4 -129.71 Sydney 1,502.5 -0.5 Thursday Change New York 2,928.22 -1.48 London 2,403.00 -2.40
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    • Article
      CURRENCIES
      19 1 Exchange rata* USS S$l.8485 Yen SSI.1953 MS SS0.6815 Money market rata* Overnight 6% -1 3-month 7 1/16% +1/16
      19 words
    • Article
      COMMODITIES
      34 1 London Gold PM fix US$346.90 US$1.05 Rubber S'pore July l56.25«/kg -0.25 M'sia July M228.SO *!V% unch KLTh Turnover 60 tonnes Spot M$l6.38/kg -0.8 Credo poll" oil Turnover 1,612 lots +953 Jul M$667/tonne +3
      34 words
  • Article, Illustration
    Salim Group gains control of Gold Coin Singapore
    558 1  -  COMPANY TO BE RENAMED KMP FEEDMILLS By Genevieve Cua INDONESIA'S Salim Group has bought control of livestock feed manufacturer Gold Coin Singapore Pte Ltd (GCSP), adding one more volley in its quest to become a major corporate player in Singapore. Salim's investment
    558 words
  • Article
    Cerebos places out 10.3 m shares to retain listing
    371 1  -  By Andrea Borch IN A STEP to keep food group Cerebos Pacific Ltd listed on the local stock exchange, 10.3 million Cerebos shares were placed out last night to institutions worldwide. The placement, which Kay Hian James Capel did at $7.85
    371 words
  • Article, Illustration
    Lock icon EC to delay signing trade accord with Romania
    252 1 Agencies THE European Community seems certain to delay signing a trade and cooperation agreement with Romania because of concern over the violent suppression of anti-government protests, according to EC sources. A spokesman for the European Commission said yesterday it had not yet
    Agencies; Source: AFP Picture  -  252 words
  • Article
    DBS, Swiss Bank issue 5m covered warrants on SIA
    381 1  -  By Elaine Koh and Quak Hiang Whye DBS BANK and Swiss Bank Corporation have launched an issue of five million covered warrants on Singapore Airlines, barely a day after US investment firm Salomon Inc pioneered the instrument here with its issue.
    381 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      114 1 Nikon TtwWbvtt'snnMt Photographic Sytftm. COVER Join the EL/Clued contest ELI r The GredX Drtcct Aircraft Schedule El 11 Commodities 15 Company News 4 Cryptic Crossword IL 11 Executive Ms EL 8 Futures Options 14 Interbank Fore* Rates 14 Home News 2 KLS£ 10 Money Changer Rates EL 11 Money Market
      114 words
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      Page 1 Advertisements Column 2
      18 1 OPINIONS Give the political public a say, minus the fray. EL 2 Mobile handphones are forever. EL 2
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      Page 1 Advertisements Column 3
      346 1 LIFESTYLE How to survive the World Cup. EL 5 Wine: Excellent quality at an affordable price. EL 5 Today, one watch reigns supreme. Ultra-thtn Royal Oak in 18kt gold, diamonds set bezel and bracelet, full pave dial. BA *****/790 BA (Ladies) BA ***** 699 BA (Gents). In 1972, the master
      346 words
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      Page 1 Advertisements Column 4
      15 1 PURSUITS Little gems at London's West End. EL 7 Music magazine goes BigO. EL 7
      15 words
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      Page 1 Advertisements Column 5
      18 1 JOBS I Ml Cold days and warm memories. EL 8 London's financial > high-flyers take a dive. EL 8
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      Page 1 Advertisements Column 6
      22 1 '•'3Bl yj*Bi .v V > FINANCE Big future for warrants, predicts Govett EL 9 Taxing matters: Remuneration packages must be efficient EL 10
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        VITB excess staff to teach in evening classes
        103 2 TO OVERCOME the excess staff situation in the Vocational and Industrial Training Board, the extra staffers will teach in the board's evening classes without additional payments. This is to make up for the shortfall in their full-time teaching hours. The scheme will
        103 words
      • Article
        Indon air force chief on visit
        82 2 THE Chief of Staff of the Indonesian Air Force, Air Marshal Siboen, arrived here yesterday for a three-day visit. His first visit to Singapore, Air Marshal Siboen will call on the Second Minister for Defence (Services), Brigadier-General (Res) Lee Hsien Loong; SAF Chief of
        82 words
      • Article
        Void decks for child care centres
        91 2 THE HOUSING and Development Board and the Ministry of Community Development is releasing seven void decks in housing estates to be converted into child care centres. This is part of the government's scheme to tender HDB void decks to private entrepreneurs to operate as
        91 words
      • Article
        Labels a must for cling wraps
        93 2 THE Ministry of Health has taken measures to require importers of plastic cling wraps to indicate on the labels whether their products can be used when microwaving food. This follows concern that the use of such plastic clings may pose a threat to health.
        93 words
      • Article
        Poly freshmen's good deed
        65 2 FRESHMEN from the Ngee Ann Polytechnic raised funds totalling $49,250 from two major events organised as part of their orientation programme. Mr Tan Gee Paw, the polytechnic's principal, will hand over a cheque of the same amount to the Assisi Home, a respite and hospice centre
        65 words
    • Article
      More byte for S'pore as software centre
      367 2  -  By Shoeb Kagda SINGAPORE'S role as a regional software centre received a boost yesterday when computer giant IBM and the Institute of Systems Science (ISS) signed an agreement to work together to develop a computer-aided translation programme. The ISS won the project with
      367 words
    • Article, Illustration
      SAF has come a long way: Kim San
      271 2 FROM "three small ships" to the latest state-of-the-art naval ship. First Deputy Prime Minister and Defence Minister Goh Chok Tong, and one of Singapore's pioneer defence ministers, Lim Kim San, have reason to beam at yesterday's opening of one of the largest
      271 words
    • Article
      Union Carbide looks to the Asia Pacific
      379 2 AMERICAN chemicals heavyweight Union Carbide is scouting for investment opportunities in the Asia Pacific, in either petrochemicals or specialty chemicals. This is being done from its operational headquarters in Singapore, where the company has just opened a US$l.5 million technical centre to customise
      379 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      533 2 V«m< V»T Nd Berth Arrival Departtfe Vewel Voy Wo Bgrtti Am»* Oggfcw Keppd Wharves Mahkota Exp *****0 M4A 1606/0900 1606/2300 Apnl Gl 17E/90 K18 alongside 15.06/1500 Puranaga 1 5/90 M4B 1506/1515 1606/0600 Beccles 1 K30 alongside 1606/0600 Spnng Star2 07/90 M2A 1606/1815 17 06/1800 Handy Sador 01
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    • Article
      CONTAINER SCHEDULE
      1286 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Transtaner Schedules Sty Voy No Arr Date fine From To Bookiif Gate Bk Op Gdn Al Symphony 01/131 17 06 90 1800 16/1630 16/1/29 Port net 2 PI 00 F05 16/2330 16/2359 NA 2 Mb Hope ***** 18 06 90
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    • Article
      IN MALAYSIAN PORTS
      317 2 Port Klang Johore Port South Port Krasica 1 berth 1; Lianghu berth 2; Alam Indah Berth 1: Sutra berth 3; Cheung Hkng berth 4; Petego Iso berth 7. Berth Jr. Tomoh Satu, Mercury iabe KCT: Bunga Mas berth 8; Maersk Farco berth 9. Berth 3: Changdu North
      317 words
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Construction arm pulls Metro's profits down
      412 3  -  By Abdul Hadhi DESPITE record profits and turnover from its retail business, Metro Holdings was let down by its construction arm and reported a 22 per cent drop in group profits after tax and minorities to $8 million for the year ended March 31,
      412 words
    • Article
      Holders of Metal Containers deserve a better explanation
      518 3  -  THE HOCK LOCK SIEW COLUMN By Conrad Raj SEVEN weeks after the trading of Metal Containers shares was suspended, all shareholders got was a terse two-para-graph statement which said talks involving the company had been called off. The statement said: "On 20
      518 words
    • Article
      Malayan Credit back in the black again
      327 3  -  By Elaine Koh MALAYAN Credit Ltd has bounced back on the back of a strong property market, with a net profit after tax of $5.99 million for the year ended March 31, 1990. This compares well with a loss of $8.81 million last
      327 words
    • Article
      GMI in $60m Thai container joint venture
      333 3 A LOCAL property and shipping company, GMI Holding Ltd, has entered into a joint venture with three overseas companies to set up a $60million marine container manufacturing complex in Thailand. GMl's partners in the venture are Ssangyong Corp and Win Corp from Korea,
      333 words
    • Article
      Lock icon SIA may delegate new East M'sia routes to Tradewinds after start-up
      402 3 Bernama SINGAPORE Airlines (SIA) which won approval from the Malaysian government to operate direct flights from the Republic to Kuching and Kota Kinabalu may delegate the routes to its subsidiary, Tradewinds Airlines. In recent months, SIA has been delegating
      Bernama  -  402 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      483 3 Our Growth Has Been Exponential Our Investment In The Future Is Challenging Share In Our Development As FINANCE DIRECTOR DESIGNATE Attractive Remuneration Package Plus Car Glaxo, one of the world's leading pharmaceutical companies, is Development Board for the purpose of human resource development existing financial process of the two companies.
      483 words
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Provisions cut into Johnson Matthey profit
        110 4 PRECIOUS METALS group Johnson Matthey pic said a reduction in full-year pre-tax profit was principally the result of provisions made for its restructuring programme. The group reported annual pre-tax profits of £48.2 million from £64.4 million previously, slightly below analysts' expectations. It had an
        110 words
      • Article
        MAS expects M$180m profit
        98 4 MALAYSIAN Airlines System has forecast a MslBo million ?x>up net profit for the year ended March 31, 1990 against 154 million for the year before, the company's managing director said. "We may achieve 180 million profit," managing director Abdul Aziz Rahman was quoted by the Bemama
        98 words
      • Article
        Exports slip at Toyota, Nissan
        115 4 JAPAN'S two biggest carmakers, Toyota Motor Corp and Nissan Motor Co, said their vehicle exports declined in May as domestic sales hit new records for the month. Toyota said its exports fell 3.6 per cent from a year earlier to 147,377 units in May, the
        115 words
      • Article
        Smith New Court in the black
        130 4 BRITISH stockbroker and market maker Smith New Court pic said the current year had started satisfactorily, but that given the nature of its business it was not possible to give any indication of the outcome for the full year. Smith New Court announced a
        130 words
      • Article
        BAe may have to pay £44m
        101 4 BRITISH Aerospace will have to pay £44 million to the British government over its purchase of the Rover car company if European Commissioner for Competition Sir Leon Brittan has his way, sources said in Brussels. Sir Leon does not agree with a British official
        101 words
    • Article
      Lock icon Pentland plans to divest Reebok stake
      250 4 NYT REEBOK International Ltd, a major producer of athletic footwear, has said that its largest stockholder planned to sell its Reebok shares. Paul Fireman, Reebok's chairman and chief executive, said in a statement on Thursday that the board would support the stockholder, Pentland Group
      NYT  -  250 words
    • Article
      Lock icon Japan faces another major stock scandal
      568 4 NYT JAPAN is facing what is potentially its biggest stock trading scandal since the Recruit case toppled a government last year. Four former senior executives of a large company were arrested on charges that they used inside information during a takeover attempt to reap
      NYT  -  568 words
    • Article
      Lock icon Sweeping proxy reform under consideration by SEC
      519 4 NYT THE US Securities and Exchange Commission (SEC) is considering the most sweeping changes in its history in the rules that govern proxy contests. The move, which is still in the preliminary stages, could increase the power of dissident shareholders and make it
      NYT  -  519 words
    • Article, Illustration
      Lock icon Rival rail bid hopes to bring Thai Skytrain plan to earth
      673 4 FT THE BILLION-DOLLAR saga over an urban rail network for the heavily congested city of Bangkok has taken a bizarre twist. A new scheme and a new bidder have emerged with, it appears, strong political backing from part of
      FT  -  673 words
    • Article
      Lock icon EON has long-term growth potential: analysts
      401 4 MBT EDARAN Otomobil Nasional (EON), which is seeking a listing on the Kuala Lumpur Stock Exchange's main board, has been described as a good buy with long-term growth potential. Analysts and brokers contacted said EON had an attractive net price-earnings multiple of 13 times
      MBT  -  401 words
    • Article
      Lock icon Honeywell seeks ban on Minolta cameras
      199 4 Reuter HONEYWELL Inc filed a complaint on Thursday with the International Trade Commission (ITC) seeking to ban the import of Japan's Minolta cameras, which it says, use autofocus technology developed by Honeywell. The petition seeks a ban on the import of Minolta cameras, including
      Reuter  -  199 words
    • Article, Illustration
      Lock icon NYSE chairman details plans for round-the-clock trading by 2000
      478 4 AP THE CHAIRMAN of the New York Stock Exchange has unveiled a five-step plan to start trading securities after daytime hours, with the goal of round-the-clock trading by the year 2000. The initial proposal is for two brief trading sessions after
      AP  -  478 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      73 4 Are You The Blind Leading The Blind? EMPLOYMENT ACT AND GUIDE An Eye-opener! Latest Version Only $20. At MPH, Times bookstores and Stamford Press Sales Office 48 Gcylang Lor 21 #04 03 (1438) Tel: *****11 [FOR SALE BEAUTIFUL TEAKWOOD THAI-STYLE RESORT AND TOUR BASE PROJECT ON THE BANK OF THE
      73 words
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  • FINANCIAL NEWS
    • Article
      Lock icon Malacca gets M$10m loan
      161 5 Bernama THE Melaka Historic City Council (MPMBB) on Thursday signed an agreement with Batik Bumiputra Merchant Bankers Bhd for a M$ 10 million loan to part finance the building of its new headquarters in Bukit Beruang near Malacca. The agreement, signed by Malacca Chief Minister Tan
      Bernama  -  161 words
    • Article
      Lock icon Tokyo may require greater disclosure
      237 5 AP RESPONDING to US pressure for public scrutiny of dealings among Japanese industrial groups, the Japanese government is considering requiring more thorough disclpsure of financial transactions, a Finance Ministry official said on Thursday. The senior ministry official said the government was discussing plans for wider
      AP  -  237 words
    • SMALL CHANGE
      • Article
        A tool to identify market trends
        118 5 SINGAPORE professionals will be among the first to use a new technical analysis product to be launched next week by Reuters. Called Reuters Technical Analysis, the product, which helps professionals identify and act on market trends, ;wjll be released in Singapore, Hongkong, Australia and
        118 words
      • Article
        Venture firm gets ADB deal
        59 5 THE Asian Development Bank (ADB) on Thursday approved a US$5 million equity investment in Asia-Pacific .Ventures, Ltd, a regional venture capital fund, the Manilabased bank said in a statement. The fund will be managed by NIF Management Singapore and will raise private risk capital from
        59 words
      • Article
        Japanese personal savings up
        74 5 PERSONAL savings, excluding stock holdings, topped 700 trillion yen (US$4.6 trillion) for the first time in Japan in the fiscal year ended in March, the Bank of Japan said on Thursday. The balance stood at 713.542 trillion yen (U554.69 trillion), up 11.2 per cent from the
        74 words
      • Article
        Hungary to raise interest rate
        65 5 HUNGARY, moving towards a free market economy after four decades of Communist rule, said on Thursday it would raise its base interest rate by four percentage points to 21 per cent as of Friday. Despite the increase, announced by the National Bank of Hungary, the
        65 words
      • Article, Illustration
        Dollar$ & Non$en$e
        2 5 Dollar$ Non$en$e
        2 words
    • Article
      BIL (Asia) in two major Thai loan syndications
      326 5  -  By Quak Hiang Whai BANQUE Internationale a Luxembourg (Asia), which reported a record before-tax profit of $3.1 million last year, is taking part in two major Thai loan syndications. The Singapore-based merchant bank is participating as lead manager and underwriter of a
      326 words
    • Article
      Lock icon Shanghai to ease rules on foreign banks
      217 5 Reuter SHANGHAI will allow more foreign banks to set up branches in China's largest industrial city and they will not be restricted from operating in other provinces, the Mayor of Shanghai said. Zhu Rongji was on the last day of a week-long visit
      Reuter  -  217 words
    • Article, Illustration
      Lock icon Call for 'transition period' for entry into EMU
      474 5 IHT THE HEAD of the French central bank said on Thursday that certain members of the European Community experiencing economic problems could be allowed to come gradually under the central powers called for in the proposed European Monetary Union. In calling for
      IHT  -  474 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      169 5 The new breed of decision-maker. Machines could be ready to do your job. That's employees' knowledge as a corporate resource the implication of the computer survey in can speed the progress of ideas around a firm. The Economist this week. They also make a nonsense of traditional forms First computers
      169 words
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  • THE REGION
    • NOTE BOOK
      • Article
        Seminar on business opportunities in Indonesia
        82 6 BUSINESS experts and economists from around the world are expected to meet at a seminar in Jakarta next month to discuss business opportunities in Indonesia. The organising committee chairmnan, Tanri Abeng, said on Thursday the seminar on July 10 and 11 would offer a
        82 words
      • Article
        Jakarta trade fair opens
        94 6 A TOTAL of 45 trading and manufacturing companies from China will take part in a trade fair opening in Jakarta today, the official Antara news agency said yesterday. The companies are to promote mainly machinery, mining equipment .and.metallurgy products at the one-month Jakarta Fair, Antara quoted
        94 words
      • Article
        Wildlife conservation park
        71 6 "MALAYSIA and Indonesia are working out details on the terms and conditions for the setting up of Asean's first transfrontier wildlife conservation park straddling the border of Sarawak and Kalimantan. Malaysian Science, Technology and Environment Minister Datuk Amar Stephen Yong said that the proposal, first made three
        71 words
      • Article
        Asia-Pacific roundtable
        48 6 •A HIGH LEVEL roundtable discussion on Asia-Pacific will be held in Kuala Lumpur for three days beginning on Mon.day. The roundtable, the fourth Asia-Pacific roundtable on confidence building and conflict reduction in the Pacific, is being organised by the Institute of Strategic and International Studies, Malaysia.
        48 words
    • Article
      Lock icon Intra-Asian investment fuels regional boom
      642 6 Reuter ASIAN nations are receiving more in investment from one another than from Europe or North America, fuelling a boom likely to make Asia the world's fastest growing region this decade, economists and officials say. The metaphor favoured by economists to describe this process is
      Reuter  -  642 words
    • Article
      Inflation in Japan 'threat to region'
      493 6 A NEW ROUND of rises in Japanese wages, inflation and short-term interest rates can send ripples through the Japanese economy and the Asian region in the near future, The South China Morning Post reported Thornton Investment Management economist Andrew Hunt as saying. Mr Hunt,
      493 words
    • Article
      Weaker yen hits Hongkong exports
      237 6 THE SLIDE in Hongkong's domestic exports to Japan by 12 per cent in the first quarter of this year was largely because of a weakening yen, according to the assistant director of the Trade Development Council, Dennis Yau, the South China Morning Post reported. Prices
      237 words
    • Article
      Lock icon Aquino determined to push on with reform
      181 6 Reuter PHILIPPINE President Corazon Aquino said yesterday she was determined to push ahead with her controversial agrarian reform programme despite strong resistance from some big landowners. "Our peasants are clamouring for social justice. And this government will heed the cry of the peasantry,"
      Reuter  -  181 words
    • Article
      Lock icon KL studies second East-West link
      187 6 Bernama THE Malaysian government has engaged the services of two consultants to conduct a study on the proposed second highway linking the West and East Coasts of Peninsular Malaysia. Deputy Works Minister Datuk Alex Lee said yesterday the proposed highway would be from Simpang Pulai,
      Bernama  -  187 words
  • Page 6 Advertisements
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      196 6 THE TIME MACHINE f LANDS IN SINGAPORE Tr^ From June 17th Emirates' Time Machines will land at Changi International Airport bringing a new style of travel and luxury to Singapore. Luxury evidenced by the generous slope and tilt of our First Class sleeper seats as well as the space and
      196 words
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  • THE WORLD
    • Article
      Lock icon EC dismisses allegations of protectionistic policy
      465 7 Reuter THE European Community's executive commission on Thursday flatly rejected accusations that it operated a protectionist anti-dumping policy designed to turn the EC into a "Fortress Europe" Closed to imports. In its annual report on action taken against foreign companies that "dump" products on
      Reuter  -  465 words
    • Article
      Lock icon Proposal for customs union with E Germany
      263 7 Reuter THE European Community's executive commission proposed on Thursday a customs union with East Germany to liberalise trade ahead of German unification. "This proposal, besides its economic implications, is particularly important because it represents one of the first concrete pieces of evidence of
      Reuter  -  263 words
    • Article
      Lock icon S Africa reports revive investor interest
      391 7 Reuter FOREIGN businessmen are taking a fresh look at investment opportunities in South Africa in spite of calls by black leader Nelson Mandela and his followers for sanctions to continue until apartheid is dead. "We've definitely had an increase in interest from Overseas investors,"
      Reuter  -  391 words
    • Article, Illustration
      Lock icon Strong arm of the 'law'
      59 7 A miner lifting his club towards the photographer as he and a companion hold a student 'terrorist' under arrest in Bucharest on Thursday. Miners from around the country have taken to the streets of the Romanian capital in response to President Iliescu's appeal to the
      Source: AFP Picture  -  59 words
    • Article, Illustration
      Lock icon Mexican president to woo Japanese businessmen
      359 7 Reuter PRESIDENT Carlos Salinas de Gortari arrives in Japan today, armed with the prospects of a US-Mexico freetrade agreement to lure new business and investment to Mexico. "He's a good poker player and the free-trade agreement is a great bargaining chip," a government official
      Reuter  -  359 words
    • Article
      Lock icon Soviet brains, South Korean capital
      344 7 Reuter THE Soviet Union has the brains but not the means to implement high-technology innovations, and South Korea, with its capital and facilities, can help resolve the problem, a Soviet trade representative said on Thursday. "Our scientists have brilliant ideas and technical solutions but they
      Reuter  -  344 words
    • Article
      Lock icon Soviet logs to start rolling to Seoul
      364 7 AP THE Soviet Union will emerge as a major supplier of logs for South Korea, accounting for about 25 per cent of the country's total log imports, a South Korean tycoon said yesterday. The prediction was made by Chung Ju-young, founder of the
      AP  -  364 words
    • WORLD WATCH
      • Article
        Tokyo cannot accept US spending request
        54 7 JAPAN'S FINANCE MINISTER Ryutaro Hashimoto said ho cannot accept US requests that Japan increase its future public works spending as a percentage of gross national prodr uct (GNP). "We can't make any decision that could lead, to rekindling of inflation," he told a news
        54 words
      • Article
        Project open to foreigners
        72 7 OSAKA CITY in western Japan has opened its World Trade Centre project to foreign construction firms, a spokesman for World Trade Centre Building (Osaka) Inc said yesterday". Under the project an office tower will be built facing Osaka Bay at an estimated total cost of °5
        72 words
      • Article
        Taiwan to get third airline
        60 7 TAIWAN'S FLAG CARRIER, China Airlines (CAL), and the civilian China Trust Group are to jointly form the islands third international airline in September, the Commercial Times said yesterday. The new airline company, capitalised at NTS 2 billion, hopes to inaugurate a Taiwan-Australia route in November
        60 words
      • Article
        More nuclear energy for Japan
        110 7 NUCLEAR ENERGY will meet 43 per cent of Japan's electricity needs by the year 2010, compared with 26.6 per cent today, the Ministry of Trade and Industry (Miti) said in a report. The report forecast that total electricity demand would increase by 66 per cent
        110 words
  • Page 7 Advertisements
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      49 7 Win 1 p Boctok p I I I Check I I Out 1 I The is I New I 1 Paper's il Sunday p I World I Cup Editions June 10, 17 24 July 1 8 Available At All 7-Eleven Outlets And Convenience Stores i m I I I
      49 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Late buying helps market recover earlier losses
      4393 8  -  By William Chia SHARE PRICES in the local market closed mixed in another day of quiet and featureless trading as late bargain hunting helped to pare earlier losses. The Straits Times Industrials Index rose a marginal 0.21 point to close at 1,531.29, after
      4,393 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4110 9 Main Board SIA Foreign 2050 +50 +2.5% FAN 915 +25 +2.8% OCBC Foreign 1090 20 +1.9% Roth IndsSO 1 376 +12 +3.3% Spore Land 1500 +10 +0.7% Jurong Ship50* 790 +10 +1.3% UOB Foreign 710 +10 +1.4% Times Pub 416 +10 +2.5% City Dev50 t
    4,110 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market edges lower across the board
      3723 10 Bernama Reuter THE Kuala Lumpur stock market finished weaker across the board in featureless trade yesterday as midday interest among the industrial issues faded before the close. The K.LSE Composite Index eased 0.64 point to 575.52 and the KLSE Industrial Index, after making gains
      Bernama; Reuter  -  3,723 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      243 10 STOCK EXCHANGE OF SINGAPORE SUPPLEMENT 1990 The global equity market Is losing much of its shine. Volatility rules the day, and the technology that brings markets closer to each other also exposes one market to another's weaknesses. But with the increased risk or volatility also comes greater opportunity for profit.
      243 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Stocks close lower on general caution
      2222 11 TOKYO STOCKS closed lower yesterday in thin volume ahead of the weekend and amidst general caution ahead of the scheduled release of key US economic data due later yesterday, brokers said. Losses emerged in the last hour of trading after generally featureless market for
      2,222 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Prices end higher on late buying surge
      2562 11 A LATE SURGE of selective institutional buying hoisted Hongkong's Hang Seng index over the psychologically important 3,200 level in an otherwise steady trading day yesterday. There was a rumour around that Hongkong banks would drop the prime rate yesterday afternoon. "That's what lured
      2,562 words
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  • REGIONAL STOCK MARKETS
    • Another sharp plunge in gold stocks
      • Article
        AUSTRALIA
        1032 12 AUSTRALIA'S sharemarket closed slightly lower in yesterday's trade marked by another sharp plunge in the embattled gold sector. The All Ordinaries Index ended 0.2 point off at 1,502.5, recovering from a low at 1,495.4. The gold marker plunged 2.9 per cent, or 38.4 points, to 1,254.1 on relatively small
        1,032 words
      • Article
        BANGKOK
        643 12 THAI STOCKS edged lower in cautious trade yesterday as investors continued to wait for a resolution of the political crisis triggered by the defence minister's resignation this week, brokers said. The composite SET index fell 4.01 points to close at 982.44. Most shares finished slightly lower from Thursday's close.
        643 words
      • Article
        MANILA
        580 12 MANILA'S stock market sprang a surprise rally yesterday with bargain-hunt-ers running after sellers amid a quiet political setting, brokers said. The Manila Stock Exchange composite index closed 26.58 points higher at 887.98, with volume heavy in oils. "This is unexpected. We were all surprised," said Anthony Nicolas, a trader
        580 words
      • Article
        SEOUL
        1067 12 SEOUL STOCKS fell in thin trading yesterday as investors' bruised sentiment took a further beating by a government think tank's forecast that inflation would rise by 12 per cent to 13 per cent on an annual basis this year, brokers said. The composite index closed at 770.77, down 1.43
        1,067 words
      • Article
        TAIPEI
        98 12 THE TAIWAN stock index fell sharply at the opening yesterday but was lifted off its lows as some companies bought in to support their own stock prices, dealers said. By mid-morning, the weighted index was down 277.81 points, or 4.6 per cent, at 5,814.51. Turnover was low at NT$l9.7
        98 words
      • Article
        NEW ZEALAND
        388 12 NEW ZEALAND share prices rose strongly yesterday, spurred by Thursday's NZ54.25 billion sale of Telecom, although weakness in Australia and profit taking brought a retracement from the day's highs. The Barclays Index ended an estimated 20.89 up at 1,808.62. "It needed something to galvanise it and we got
        388 words
      • Article
        JAKARTA
        475 12 THE JAKARTA STOCK index fell 2.02 points to 628.28 in active half-day trading yesterday. Nickel producer Inco closed 200 rupiah lower at 8,150. It was the most heavily traded on the regular market with 160,500 shares. Brokers said buying interest remained strong in the financial sector, with Bank International
        475 words
      • Article
        Untitled
        426 12 Close Previous J Me IS SYDNEY All Ordinaries Index 1,502.3 1,503.3 -0.2 All Industrials Index 2,366.0 2,362.2 3.8 All Resources Index 846.6 850.3 -3.7 Turnover (million) 95.75 100.96 -5.21 BANGKOK SET Index 982.44 978.43 -4.01 Turnover (nearest XXX)) 34,495 36,520 -2,025 JAKARTA Composite Index 628.28 630.30 -2.02 Turnover (nearest XXX))
        426 words
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  • WORLD STOCK MARKETS
    • New York shares end slightly lower
      • Article, Illustration
        NEW YORK
        926 13 MILD PROFIT-TAKING ahead of a key economic report and expiration of certain futures and options contracts yesterday nudged US blue chips to a slightly lower finish on light volume on Thursday. "Investors are a little bit cautious about jumping in," said Donald Hays, investment strategist at Wheat First
        926 words
      • Article, Illustration
        LONDON
        834 13 SHARES finished lower on London's Stock Exchange on Thursday in trading made nervous by a drop on Wall Street. Dealers said shares powered ahead throughout most of the session on a combination of a blue-chip stock shortage and robust demand for stock-index futures. But a poor showing on Wall
        834 words
      • Article
        AMSTERDAM
        211 13 DUTCH SHARES were a touch weaker by early afternoon in a lethargic preweekend session yesterday, dealers said. The CBS trend index was down 0.2 point at 120.3 by 1220 GMT. Most blue chips were marginally lower, but airline KLM and Philips were unchanged at 36.20 and 32.10 guilders respectively.
        211 words
      • Article
        BRUSSELS
        153 13 BELGIAN STOCK prices drifted lower at the start with little news to influence trading yesterday, dealers said. They said the market's sluggish performance was in contrast to the rush by investors to subscribe to the government's latest domestic borrowing which had raised 130 billion francs so far. "The bond
        153 words
      • Article
        FRANKFURT
        192 13 THE WEST GERMAN 30-share DAX index ended a quiet trading session just 4.87 points higher at 1,792.26 yesterday, breaking a six-day run of losses. Share prices ended mixed, with gains among the utilities and financial stocks offset by losses elsewhere. Dealers said the market was still beset by low
        192 words
      • Article
        JOHANNESBURG
        440 13 TRADING WAS subdued on a shellshocked Johannesburg stock market at midsession yesterday after Thursday's gold-led panic selling stripped 16 billion rand off market capitalisation. The panic was fuelled by a slump in the bullion price to near four-year lows, and the ensuing "bloodbath" resulted in a 6.4 per cent
        440 words
      • Article
        MILAN
        210 13 MILAN STOCKS opened mixed yesterday as many operators took profits following Thursday's gains, with chemicals firm Montedison continuing to attract interest, brokers said. "A lot of operators with large positions were waiting for the right moment to sell," said one broker, adding that the market showed little problem in
        210 words
      • Article
        PARIS
        257 13 FRENCH SHARE prices drifted lower yesterday in a market ahead of US May consumer prices and April trade figures due out at 1230 GMT, dealers said. The CAC-40 index was down three points on Thursday night's close at 2,025.08 by 1055 GMT. It opened 2.99 points down at 2,025.09
        257 words
      • Article
        TORONTO
        333 13 WEAKNESS ON Wall Street and heavy losses in gold shares plunged Toronto stocks to session lows at midday on Thursday, dealers said. The US mar- ket is cooling after a recent bull run. "It's very richly priced right now," said analyst Ben Joyce of Burns Fry Ltd. The composite
        333 words
      • Article
        ZURICH
        337 13 SWISS SHARES traded slightly easier at midsession yesterday. Dealers said that investors were staying sidelined before important US economic data scheduled to be released later in the day. Volume was light to moderate, but dealers said demand would probably rise when the US economic data were released at 1230
        337 words
      • Article
        Untitled
        192 13 June 14 Close Previous NEW YORK Dow Jones 2928.22 2929.95 -148 NYSE Financial 148.55 150.27 -1.72 SAP 500 362 90 364.90 -2 00 Turnover (million) 135.77 158.91 -23.14 LONDON Financial Times 30 1928.60 1933.20 -4.60 FTSE 100 2403.00 2405.40 -2 40 Turnover (million) 554.2 611.2 -57.00 AMSTERDAM CBS General 198
        192 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      US$ ends higher against major currencies in sluggish trade
      1209 14 FOREX MARKET REPORTS THE US dollar yesterday closed higher in the Asian currency markets against the Japanese yen and West German mark in sluggish trading. Dealers, waiting for the release of the latest figures of US trade and Consumer Price Index
      1,209 words
    • Article
      INTERBANK FOREX RATES
      392 14 Cross rates June IS I USS S$ MS Dm Yen SFr A$ NZS US$ 1.8490 2.7115 1.6945 154.40 0.5855 1.4345 1.2903 1.7197 < S$ 0.5408 1.4665 0.9164 0.8350 0.3166 0.7758 0.6978 0.9301 MS 0.3688 68.19 0.6249 0.5694 0.2159 0.5290 0.4759 0.6342 Dm 0.5901 1.0912 1.6002 91.12 0.3455
      392 words
    • Article
      MONEY MARKET
      567 14 Interbank rates S$ Bid Offer Overnight 6 6 1/4 I -month 7 7 1/8 2-month 7 1/16 7 1/16 3-month 7 1/16 7 3/16 Overnight mode 6 1/2 LS> Bid Offer 7 days 8 3/16 8 5/16 1 month 8 3/16 8 5/16 2 months 8 3/16 8
      567 words
    • Article
      Lock icon US Treasury securities succumb to profit-taking
      373 14 Reuter PR ICES of US Treasury securities vacillated on the latest inflation news, but modest profit-taking eventually got the upper hand. Prior to release of the May US producer price index, the market had ridden higher on the tail of an overseas rally, responding
      Reuter  -  373 words
    • Article
      FINANCIAL FUTURES
      1491 14 SIMEX June 15 EUftOOOLLM Open High Low Sett Est Vol Op/Int Vol Jun 90 91.72 9L72 91.70 91.70 994 ***** 1685 Sep 90 91.83 91.86 91.82 91.83 9486 ***** ***** Dec 90 91.78 91.80 91.77 91.78 1474 5524 5031 Mar 91 91.76 91.77 91.73 91.75 907 1915 2521
      1,491 words
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  • COMMODITIES
    • Article
      Lock icon Gold collapses to four-year lows
      337 15 Reuter GOLD collapsed to four-year lows on Thursday on talk that rich Arab syndicates were again selling a large chunk of their gold holdings, but analysts said the market may be nearing the end of a long bear trend. Spot gold on the Commodity Exchange
      Reuter  -  337 words
    • Article
      Lock icon M'sia likely to continue as major timber exporter
      268 15 Bernama MALAYSIA will remain as a major exporter of wood products in the next century with the availability of a consistent supply of log and the replanting policy that the country is adopting, the Malaysia Timber Industry Board (MTIB) director-general, Datuk Baharuddin
      Bernama  -  268 words
    • Article
      Lock icon Japan freeing its rice market
      131 15 Reuter JAPAN, facing mounting international pressure to open up its rice market, is quietly laying the groundwork for liberalisation, analysts said. "In public, the government can only maintain the status quo in order not to lose face, but behind the scenes, there seem to be
      Reuter  -  131 words
    • Article
      Tin continues to drift lower on poor demand
      832 15 REPORTS THE Kuala Lumpur Tin Market (KLTM) continued to drift lower yesterday in dull trading on poor overseas demand. The metal shed eight sen to M$ 16.38 per kg against M$ 16.46 per kg on Thursday. At the opening, bids amounted to
      832 words
  • Article
    PRICES
    1342 15 Rubber wis ■OS P* WB) Scents/kg Noon Close Int I RSS Prompt 154.50/155.50N I54.7VI55.75N Int 1 RSS July 90 156.00/156.50 156.2V156.75N Int I RSS August 157.50/158.00 157.75/ 158.25N Int 2 RSS OP I52.50/I54.50N 152.50/154 50N Int 3 RSS OP 148.00/150.00N 148 00/150.00N Int 4 RSS OP 144.00/146.00N 144.00/146.00N Int
    1,342 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      15 15 Read Chartpoint, a guide to investing in the stoek market. Every Saturday in Business Times.
      15 words
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      Page 15 Advertisements Column 2
      615 15 I NOTICES IN THE MATTES OF THE COMPANIEB ACT CAP M PITBBUANT TO SECTION »**)<*) AND IN THE MATTES OP BASSY CAS RENTALS (8) PTE LTD At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 15 Scotts Road 05-01, Thong Teck Building, Singapore 0922 on
      615 words
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      Page 15 Advertisements Column 3
      395 15 IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF MARICO MARINE SERVICES (SINGAPORE) PTE LTD (In Voluntary Liquidation) MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the Company duly convened and held on 15th June 1990. the following Special Resolutions were duly passed 1
      395 words
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  • Article
    Lock icon Chavalit named special military adviser
    229 16 Reuter GENERAL Chavalit Yongchaiyudh, who quit as Thailand's defence minister on Monday, was appointed special adviser to the Thai armed forces yesterday, a military spokesman said. General Chavalit's resignation only three months after he stepped down as commander-in-chief to pursue his political ambitions as a
    Reuter  -  229 words
  • Article
    Lock icon MAS union chief served show cause letter
    354 16 Bernama MALAYSIA AIRLINES (MAS) union chief Haji Jumaat YusofF has been served a show cause letter by the management for making press statements, in what is seen as the start of yet another major dispute in the history of the national carrier. In
    Bernama  -  354 words
  • Article
    Lock icon Moscow to restore part of gas supply to Lithuania
    354 16 Reuter THE KREMLIN has agreed to restore supplies of a limited amount of natural gas to Lithuania, starting this weekend, Politburo member Yuri Maslyukov said yesterday. Mr Maslyukov told a news conference he believed the move was an attempt by Moscow
    Reuter  -  354 words
  • Article, Illustration
    Lock icon US, Thailand to set up joint committee to boost trade
    412 16 AP AFP PRESIDENT George Bush and visiting Thai Prime Minister Chatichai Choonhavan on Thursday agreed to set up a joint committee to bolster trade and investment and resolve trade disputes between their two countries. "We have agreed to set up
    AP; AFP  -  412 words
  • Article
    Lock icon Hardliner attacks Gorbachev
    222 16 Reuter THE Soviet Union's leading hardliner, Politburo member Yegor Ligachev, has accused President Mikhail Gorbachev of leading the country towards breakup. Mr Ligachev told a conference of farming officials that he had to "wage his political struggle through to the end in this dangerous moment for the
    Reuter  -  222 words
  • Article
    Lock icon US trade deficit down 17pc in April
    210 16 Agencies THE US trade deficit shrank dramatically from US$B.36 billion in March to U556.94 billion in April, its second lowest level in the past six years. Commerce Secretary Robert Mosbacher said yesterday that the nation's trade deficit was "on a roll downward" that
    Agencies  -  210 words
  • Article
    Lock icon Monopolies to go private when people are ready
    330 16 Bernama THE MALAYSIAN government will privatise its monopoly enterprises once it is confident that the people, particularly bumiputras, are capable of owning shares in these giant concerns. This was disclosed by Prime Minister Datuk Seri Dr Mahathir Mohamad last night at the
    Bernama  -  330 words
  • Article
    Lock icon Queensland chosen for 'city of the future'
    139 16 AP AUSTRALIA'S east coast was chosen yesterday as the site for a multibillion-dollar "city of the future," on the condition that the Queensland state government obtains the land quickly. A consortium of Japanese companies has proposed building the ambitious Multi Function Polis at
    AP  -  139 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      27 16 Tasty Teochew at Chao Zhou •|a a f n rfurm OUO ZMOU CAR OO4 RESTAURANT '•kli Pifeffl) Level 6. UIC Building M Shenton Way Tel: 225 6355
      27 words
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      Page 16 Advertisements Column 2
      100 16 Fresh delights at Kampachi SnIRAMPACW l-UfcrnrM K.-J.iufjlll Lev«H 6 UIC Building Shenton Way Trf 222 4615 It could be a controversial deal between two stock market stars, a thought-provoking report by university researchers on the latest trans-European FOCUS zooms in on the news and jL issues of the day and
      100 words
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  • Executive Lifestyle
    • STRAWS IN THE WIND
      • Article
        Plague survivors
        58 17 THE office received thii press release from a shipping agency to announce the arrival of a vessel; 'The PSA a«t the STPB extended her tt warm welcome. Plagues and souvenirs were exchanged and a small reception was held on board to commemorate the occasion." We wonder if there
        58 words
      • Article
        Bearty understood
        31 17 AT THE Indoor Stadium where the Moscow State Circus is performing, all the announcements are made in Russian. It's very likely the only ones who understood were the bears.
        31 words
      • Article
        Poser to chew over
        44 17 THE question, at a little restaurant along Joo Chiat Road, is whether Chew had lunch, or did his lunch munch him. That's the little poser you might want to ponder when you step into this eatery called "Food Munch Chew".
        44 words
      • Article
        Bagging the claim
        72 17 SOME environment-con-scious Americans decided to put the Body Shop's claim of using only bio-degradeable plastic bags to the test. According to the publication The Singapore American, the bag was hung in the sun by the Ulu Pandan swimming pool for the specified period of time, but "On
        72 words
    • Article, Illustration
      Lock icon It's murder, you dope!
      1430 17  -  e* SAMUEL EE MANIAM was perspiring profusely as he made his way up the steps to the first floor. He wasn't sure if it was because it was a warm day or because he had forgotten his antiperspirant. Nevertheless, he was certain of one thing: he
      Artwork by Francis Tan  -  1,430 words
    • OPINIONS
      • Article
        Lack of 3 'O's denied him a course place
        434 18 LETTERS TO THE EDITOR I AM an associate agent with a real estate agency and an applicant for the real estate agency course conducted by the Singapore Institute of Surveyors and Valuers (SISV). Notwithstanding my modest academi* qualifications (I completed Secondary
        434 words
      • Article
        Car mark-ups: making profits or profiteering?
        210 18  -  K H Kwek IN THE ARTICLE "Case asks car traders for cost details" (BT, June 11), it was reported that Mr Philip Eng, President of the Singapore Motor Traders' Association, tried to justify the high markups on the grounds that the motor trade involves
        210 words
      • Article
        ROV not privy to traders' cost and profits
        166 18  -  Mrs Maria Choy for Permanent Secretary (Communications) Ministry of Communications Information WE REFER report, "Case asks traders for cost details" (BT, June 13). In his remarks to your paper, Mr Philip Eng, President of the Singapore Motor Traders' Association, alleged that "the
        166 words
      • Article
        C&C Group's interim profit not affected by error
        158 18  -  Ho Yeng Tat Corporate Secretary Cycle Carriage Limited WE REFER to your report on our company titled, "An error in C&C results" (BT, June 6). We wish to point out that in reporting our announcement of June 5 to the Stock Exchange
        158 words
      • Article
        Pray, give the political public a say, minus the fray
        1096 18  -  In a participatory democracy, Yong Pow Ang argues there is a case for the political public to air their views without having to enter the fray Yong Pow Ang The writer is a correspondent on the politics and economics desk
        1,096 words
      • Article, Illustration
        All roads lead to Kallang, cough, cough
        709 18  -  The circus is in town, but the trip to Kallang is more than a merry-go-round, says Lee Han Snih Lee Han Shih The writer is BT's Properly Correspondent By a STRANGE twist of fate, Kallang on weekends has become one of the most
        709 words
      • Article, Illustration
        Mobile handphones – and that baby in us
        875 18  - Mobile handphones and that baby in us Perish that thought of buying a diamond ring or a Rolex. Nothing beats a mobile handphone, contends Tye Kim Khiat Tye Kim Khiat The writer is BT's Assistant Features Editor Diamonds and RoI lexes are dumb. What's worse, they have been sidelined in
        875 words
    • EPICURE
      • Article, Illustration
        Lock icon The natural choice
        579 20  -  Quek Swee Peng samples Cuisine Naturelle, touted as the intelligent and imaginative cooking concept, at Le Restaurant de France Quek Swee Peng THE NEXT TIME I get a chance to eat Cuisine Naturelle, I'll have no qualms about wearing tight trousers or that newly-acquired tight skirt. It
        Punch cartoon by Steve Way  -  579 words
    • LIFESTYLE
      • Article, Illustration
        Excellent quality at an affordable price
        773 21  -  WINE By N K Yong ONE of the oldest and most highly respected names in the Rhone, Vidal Fleury was recently taken over by Guigal, whose late founder Emile Guigal used to work for Fleury. The change in ownership has been a fillip to
        773 words
      • Article, Illustration
        Head wins Epson prize
        427 21  -  BRIDGE By Sybil Holloway CECIL HEAD from North Carolina won the Epson prize for the "Best-played Hand" on Board 17 of the 1989 Epson Contest. It is surprising that West did not support spades; however, that is how the bidding was reported. Cecil Head won the
        427 words
      • Article, Illustration
        Late to bed, early to rise
        909 21  -  Richard Seah offers some tips on how to survive the World Cup Richard Seah The writer is editor of The Good Life, a health magazine Football fans will probably find their body clocks going wonky as they struggle to catch the World Cup matches
        909 words
    • SPORTS
      • Article, Illustration
        Lock icon Tyson still knows who is No. 1
        498 22 AP MIKE TYSON knows who the best heavyweight in the world is. "Basically, I still am," Tyson said. "My record speaks for itself. I had one bad night, but I had 37 good ones." That one bad night actually it was a Sunday
        AP  -  498 words
      • Article, Illustration
        Lock icon He's not a big threat, but less of a joke
        501 22 Reuter GEORGE FOREMAN knew that he was becoming less of a joke when the boy next door wanted to talk to him and top-ranked contenders did not. Foreman will meet the toughest test of his two-year-old comeback, some say delusion,
        Reuter  -  501 words
      • Article, Illustration
        Lock icon World Cup could unleash fiesta or bitter resentment
        762 22 Reuter WHEN THE traffic jams suddenly melt away, the streets empty and the sounds of radios and televisions fill the air, it's a sure bet that an Italian soccer team is battling somewhere for the glory of the nation. Now, when Italy
        Reuter  -  762 words
      • Article
        Lock icon The greatest moment in sports
        631 22  -  By GEORGE VECSEY NYT EARLY LAST MONTH, I had the pleasure of escorting my 20-year-old son to the barn area of Churchill Downs. In rainy darkness before dawn, we watched a jockey make his acquaintance with the thoroughbred he would ride the next afternoon after
        NYT  -  631 words
    • PURSUITS
      • Article, Illustration
        Little gems at West End
        951 23  -  Heading out to London this summer and intending to sample the best of theatre via megahits like Miss Saigon or Les Miserables? Hold on to your ticket stubs, advises Neville Stack, who says there's more to the West End than Lea Salonga Neville Stack The
        951 words
      • Article
        Ballet Do Not
        644 23  -  Lisa Lee finds the Ballet Du Nord no better on its final two nights Lisa Lee ANY SUSPICIONS one had of the Ballet Du Nord's questionable performance of Coppelia were confirmed when the troupe presented something more contemporary in the final two nights of its Arts Festival
        644 words
      • Article
        Local music magazine goes BigO
        489 23  -  A Surendren speaks to the merry musicmen A Surendren WHEN the editor of BigO magazine moved into a nice apartment in an expensive district, he thought it was also time to revamp Singapore's only magazine on alternative music. Five years ago, Michael Cheah and his
        489 words
    • JOBS
      • Article, Illustration
        Cold days and warm memories
        914 24  -  Bob Barton is part of a vanishing breed, the colonial career expat. British-born, Barton arrived here at a tender 21. Now, at the peak of his career managing the giant Cold Storage Holdings group. Barton is retiring. He tells Shoeb Kagda why, alter 30 years,
        914 words
      • Article
        Lock icon Glitter fades for City's high-flyers
        758 24  -  The heady days of the Big Bang are over. It's a matter of survival now for players of London's financial district, reports Liisa Springham Liisa Springham Reuter FAST CARS, big salaries, champagne and caviar epitomised the lifestyles of the high-flyers ■working in London's financial markets
        Reuter  -  758 words
      • Article, Illustration
        PEOPLE IN BUSINESS
        300 24 JOHN NG has been appointed general manager (business development operations) of Hotel Properties subsidiary HPL Retail Pte Ltd. He will be responsible for identifying, developing, and managing new retail businesses for the company. Prior to joining he was general manager of Gamut Trading. WEI LU SINCLAIR has
        300 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        What makes SCMP a promising stock
        869 25  -  ST^K From Catherine Ong in HONGKONG WHEN AUSTRALIAN media baron Rupert Murdoch bought the South China Morning Post in 1987, many people in Hongkong feared he was going to turn it into another Sun, the massselling London tabloid notorious for its tits-and-bum style of
        869 words
      • Article, Illustration
        STII 1607 insurmountable for a while
        266 25  -  CHART By Charles Chow The writer is head of research, J Ballas WE HAVE come to a point in time when a rational investor would not be exceedingly heavy on equities, generally speaking. There are competing instruments like Fixed deposits which give decent yields.
        266 words
      • Article
        Big future for warrants
        542 25  -  Amy Balan asks John Govett where stock derivatives are heading Amy Balan INTERNATIONAL fund manager John Govett Co sees a big future for warrants, options and other stock derivatives in this region. In Singapore, the listed warrants have a total market capitalisation of about $3 billion,
        542 words
      • DON'T QUOTE ME!
        • Article
          With SIA, nothing is impossible
          42 25 DR CHEONG Choong Kong, managing director of Singapore Airlines, was asked by the company's inhouse newsletter whether the national airline will maintain its good performance of the past: 'Not easy, but not impossible. With SIA, never impossible."
          42 words
        • Article
          One for all but not all for one
          64 25 THE alliance of Singapore Airlines, Delta Air Lines and Swissair has just turned one year and all three said it had been beneficial. But their leaders discounted any likelihood of the three ever flying as a single merged carrier. "We will continue
          64 words
        • Article
          The classic excuse
          48 25 SOUTH Korean manager Lee Hoe-Taik came up with the classic football coach's cliche after his team lost 2-0 to Belgium at the World Cup: "If they had not scored twice we could have had a draw." Does he remind you of somebody familiar? Dan Quayle?
          48 words
        • Article
          Monna Lisa or Mona Lisa
          72 25 THE 205-year-old Times of London has finally succumbed to Ms. From now on, the title will be automatic in its news columns for American women, and on special request for the rest. Other old favourites are going too, including The Times' singular spelling of "Monna
          72 words
        • Article
          Adam Smith in Russia
          64 25 "ADAM Smith's Money World," a weekly look at business, will be shown this fall on Soviet television, dubbed in Russian. "Adam Smith has come to the land of Karl Marx," said the show's host, referring to his namesake, the 18th-century Scottish economist who formulated the theories
          64 words
        • Article
          Dick Tracy wears Seiko
          65 25 JAPAN'S Hattori Seiko Co, maker of Seiko watches, has developed the world's first wristwatch with a built-in pager. The sleek watch, named the Seiko Receptor, functions as a normal digital wristwatch, but it can also receive and display messages of up to 16 characters on its
          65 words
      • Article
        Lock icon Where to put your money
        1110 25 FT WHAT investments provide the best return? Each year Salomon Brothers, the USbased investment group, draws up a comparison of the compound annual rates of return provided by different types of financial and tangible assets. The latest comparison, just compiled for the year to June
        FT  -  1,110 words
      • Article, Illustration
        Remuneration packages must be tax efficient
        889 26  -  T/OCING By Jenny Lim The writer is a tax partner with an international accounting firm This week i continue my discussion on the valuation of noncash benefits for tax purpose. To recapitulate, these non-cash benefits are taxable in the hands of the executive but
        889 words
      • Article
        Different insurance policies to meet individual needs
        742 26  -  TAKING By Alan Street Professor Alan Street is with the Nanyang Technological Institute. The article is contributed by the Life Insurance Association of Singapore WE SAW last week how life insurance developed naturally out of the need to protect families at a time
        742 words
      • Article
        Lock icon Kuwait's stock market waking up from slumber
        544 26 Reuter KUWAIT'S stockmarket, slumbering uneasily for eight years after a painful collapse, may awake this year and become more active. The grand marble and glass exchange echoes more to the rattle of coffee cups and chat among brokers in flowing white robes rather
        Reuter  -  544 words
      • Article, Illustration
        Lock icon Securities tax seen as obstacle
        485 26 Reuter AS JAPAN comes under pressure from the US to open up its money market and fully deregulate interest rates, securities tax is emerging as a major obstacle. Money market participants say taxes distort trading in financial instruments. But Ministry of Finance (MOF) officials in
        Reuter  -  485 words
    • THE TRAVEL PAGE
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        981 27 C*y FNgfct ETA Fttght ETD *>■ DtoM GA976 0010 UrtlKl SQ226 2035 QF81 2105 XmMM SQ23 1350 KL838 2115 KL837 1430 SQ24 2200 Htittm QF16 1820 AacUmi TE25 1610 TE28 1730 SQ338 1925 BA12 2200 UlralB Qf 10 1845 QF5 2230 luilf S«ri ***** 1100 SQ182
        981 words
      • Article, Illustration
        Where rituals are a part of daily life
        636 27  -  LETTER FROM NEPAL By Barbara Crossette A WEST GERMAN architect calls it a valley of urban cultures so perfect that they are "beyond expression". The architect, Niels Gutschow, perched on a stool in a wood carvers' workshop, is describing the medieval cities
        636 words
      • Article
        MONEY CHANGER RATES
        153 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.4260 1.4460 Canadian dollar 1.3630 1 5830 NZ dollar 1.0610 1.0910 Sterling pound 3.1420 3.1720 US dollar 1.8430 1.8550 Local dollars to 100 units of foreign currency Austrian schilling 15.20
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        WORLD TRADE EXHIBITIONS
        64 27 Duration Title Venue Organiser Td Duration Title Venue Orpmaer Td Jun 10-17 Poznan Poland Foirc Intemati (48)6/661-221 11-16 International Yugoslavia Zagrebacki (33)41/511-666 International onale De Poznan WeM*§ A V'alesajam p air Welded Const Jun 11-16 International France Comite des (33)1/*****001 JT Plastics Exh Expositions de Jun ,5
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        THEATRE
        161 28 Rhre Droite, Rive Gauche A film directed by Philippe Labro, the action takes place in Paris. It tells the story between a divorcee and a young man, and the magnetism that draws them together. Their relationship sets off a trail of violence that threatens even their lives. Venue: Alliance
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      • Article, Illustration
        EXHIBITIONS
        382 28  -  Compiled by K Jayanti Watercolour paintings by Victor Chin Bom in Kajang, Selangor exhibits his paintings in Singapore for the first time. This is also the first stop of a fourcity tour including Malacca, Kuala Lumpur and Penang which are the cities captured in his paintings. He portrays buildings
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    • Article, Illustration
      CINEMA
      525 28 Back to the Future Part 111. Michael J Fox and Christopher Lloyd amaze with their nonsensical interpretation of time travel a third time around. They jump into their De Lorean and take a trip to the Wild West for flying trains and love at first sight. Also stars Mary
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      138 17 Since 1735 there has never been A QUARTZ BLANCPAIN WATCH. AND THERE NEVER WILL BE. ■*> .ZM L Model shown: 6595 1410 58 .P. BlancpaiN Faithful to the traditional art of watchmaking, each watch is still assembled, polished and finished by hand by the individual watchmaker. ">. In all, only
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      37 18 DOONESBURY BY GARRY TRUDEAU MJELL, PONT STAY m mho OK 1 UPAU UHQAI a LOOKS on. I JOAMt* you TALK- H JSJU VXJSHCXAVSet HCALU* UKBA. A. 7^75 I ****** 1 HTHB&fJ ON' J JUST PUIB? Ripe mussi
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      1158 19 So, You're Feeling A Bit Gloomy 1 28 The bad guys ftequently win I 29. Unless you happen to be a bad guy, This Morning? in which case, welcome to Changi; this is your bucket. Enjoy. Read On. By Lunchtime You Can 30. The makers and sellers of Beck's are
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      1091 20 WHERE TO WINE. DINE AND ENTERTAIN... WHERE TO WINE. PINE AND ENTERTAIN... WHERE TO WINE, DINE.. Some of our best advertising is by ward of-mouth. For outstanding haute cuisine in surroundings of unashamed opulence. The Palm Grill is the name on everyone's lips. Reservations. 330 8310 or 338 8585 ext
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      246 21 AND ENTERTAIN A Special Treat For A Special Dad. MUNCH MHJLTSIH SET DINNER »M PEX ADULTS BUFFET DINNE* ADULTS On June 17 show Dad you think he's one in a million. At Cafe-in-the-Park and Hubertus Grill, we'll make your celebration memorable with mouthwatering treats. Our way of helping you show
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      Page 21 Advertisements Column 2
      265 21 TDAIV A Restauranl an d 1 Karaoke Lounges FINEST RUSSIAN AND CONTINENTAL CUISINE HAPPY HOURS One for one drinks, FREE titbits Restaurant Hours Lunch: Karaoke Hours Mondays to Saturdays Daily: 1130 am to 2.30pm 7.00pm to 2.00 am 133 Cecil Street #18-00 (Whole Floor) Keck Seng Tower Singapore 0106 I
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      157 23 FREE INSIDE: 8-PAGE CD PUIIOUT If 1 I I Remember Tiananman Square. June 4th; Ik I 1 II I Elvis' Last Temptation reviewed; f Polygram prepares 20th anniversary Layla 2 CD-Box set; Wm |it- Madonna's Dirty Music... and more! Rllll Whaddaya mean > N >E'- m 7 a j 1
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      Page 23 Advertisements Column 2
      48 23 umpp*. TRIUMPH INTERNATIONAL (S) PTE LTD, 37 JALAN PEMIMPtN, #0204 SINGAPORE 2057 TEL: *****11 OM SMMWEAR 4MLABLE ECWSNEIy qamaa, PASHO TNLOP GAIIHES iAf«FTt t SEWN WSMA KW METRO FAfl EAST METO GRANO METO MAHNA METO ORCMfID ME 1 PARAGON •0G PtOPlfS PAW 91ANOTE 90Q0 TANGS THAI! Ttt •WU
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      280 24 I Soccer! a Piotteetf Grab rhis excellent job opportunity and join o young and dynamic growing group of hotels. j Hotel Equatorial Shanghai i i r a soon-ro-be opened 5-sror deluxe hotel invites applications from qualified ;"Ji P personnel with drive and fjfcf,, c initiative for the following Financial Controller
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      Page 24 Advertisements Column 2
      221 24 DHL IN THE NEWS Advertisement CUSTOMERS'SUPPORT I%# r* niii tfvn National Computer Board. DHL emerged winner UHlVfc UML IU WIN in the Private Sector from a total of 84 nominations 4__ v received. DHL was given the award for its strategic TOP AWARDS and comprehensive investments in information technofogy to
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      60 26 HONG LEONG FINANCE presents the Latest Rate! B B [LM IB lilt M if«l fjCa W M w For more information on our attractive rates, call LISA at 222 5544/222 8844. Similar rates are also available at all Singapore Finance branches. HONG LEONG FINANCE LTD \w! 5 16 Quay #01-05,
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      42 27 J** 'hi Humiio* pcrM>n'% vhi»i«.i curv Fucsdjx. T""| 1 ~T~ I hurv!.i\.snurilj\ jndsunil.nl hjngi II J m I \irpnrt hour* .ind .irrii ji 1 j J J (iiurdu nr Vu.irk lnUrrution.il Virport* the A I*>I:I rll <>r I- i:fsn An: Air Canada
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      84 27 It could be a controversial deal between two stock market stars, a thought-provoking report by university researchers on the latest trans-European )J\rL FOCUS zooms in on the news and issues of the day and looks at them in more depth and breadth. FOCUS is the news feature section of Business
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      256 27 ACROSS I Cruel-like fish (4-7) 10 Put one's foot down on the 11 Person with his family get- g Poison coming from a har- """TlB"" "BB" 13 Not neatly arranged in a devoted adherent 19 Counsel these days on BBjZDiBZZIIIfZjBCZjIZDBCZjBBI morality (6) 21 Being angry, go quickly usway mH^HB 23
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      213 27 Singapore Outlook: Showers over a few areas in the late morning and early afternoon. Report: (Thur) Max temp 32.2"C Assoc humidity 69% Min temp. 25.6"C Assoc humidity 94% Hrs of sunshine 9.45 Rainfall in mm Nil Rainfall this mth 107.3 Rainy days this mth 5 World forecast Asia-Pacific Hi/Lo* Cond.
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      27 27 ESSSaSHaiEEI I Think ruiwct no-on Twe can't TdiNr OF UHPff* Gtofcoos OFF TO G0... yJy ueu. GO 1N.... -^J v EVE MHO STANDARD CO. LTD., IM2-IWS W
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      1475 28 TODAY'S TV HPffviTflHHß MKTWWTifIWBH 800 AM TIM A<tv*n- '>- taras af lapartig 8.30 Kia(«fttoCastis. The ChMd Saver, 2pm, TVI The Golden Girls, Bpm, SBC 5 it" nTiriMi^^^i'iti Just as an advertising execu- a new season of the sitcom >. 10.05 HadbNaM. is about achieve pro- 'kicks off with the women
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      633 28 MOVIES ON TV Or the Beach, Mod, 9pm, SBC ly shifts his headquarters to 12 prison. Ray Sharkey, Keith A 1959 black-and-white mov- Carradine and Qiaries Haid ie based on Nevil Shute's conduct illegal business benovel about the aftermath of hind bars. nuclear apocalypse. In the Q CRr Northern Hemisphere,
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