The Business Times, 14 July 1990

Microfilm: NL17036
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, July 14-15 1990 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Dow higher
      37 1 AN EARLY US blue chip rally lost some of its momentum, but share prices generally remained firm. The Dow was up about five to 2975 in early trading. Gainers outpaced decliners by seven to four.
      37 words
    • Article
      Footsie up
      39 1 SHARE PRICES were higher at midday after the government announced that the rate of inflation remained below 10 per cent. At 1113 GMT, the FTSE 100 index was up 1.1 points, or 0.046 per cent, at 2,371.6.
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    • Article
      High rents, low rents
      29 1 WHILE the net rents of prime office space in Singapore increased in the six months to December last year, those in Hongkong fell Page 2
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    • Article
      SSE offer
      33 1 SINGAPORE Shipbuilding Engineering Ltd (SSE) is offering some 50 million shares for sale to the public at 1 apiece. The share offer is expected to be launched next week. Page 3
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    • Article
      Rashid triples profits
      35 1 BULLISH stock market conditions in Malaysia have helped stockbroker Rashid Hussain Bhd (RHB) to almost triple group post-tax profits to M$ 18.33 million for the year ended May 29, 1990.... Page 3
      35 words
    • Article
      Good move
      30 1 PRIVATISATION, introduced in Malaysia during the prolonged world economic recession in the early 80s, has helped ease government administrative burden, including the reduction of 31,000 personnel Page 6
      30 words
    • Article
      Closer ties
      33 1 JAPANESE Prime Minister Toshiki Kaifu on Thursday publicly proposed a new initiative which he had already outlined to President George Bush aimed at improving communication between the two peoples Page 7
      33 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 818.26 +13.85 Kuala Lumpur ....616.70 +10.58 Hongkong 3,507.16 +38.57 Tokyo 32,644.37 +69.05 Sydney 1,598.8 -7.7 Thursday Change New York 2,969.80 +37.13 London 2,370.5 +10.0
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    • Article
      CURRENCIES
      21 1 Exchange rates USS S$ 1.8125 Yen S$ 1.2276 MS SS0.6706 Money market rates Overnight 4% -1/4 3-month 7 1/4 -1/8
      21 words
    • Article
      COMMODITIES
      37 1 London Gold PM fix US$364 50 US$13.05 Rubber S'pore Aug 155.25«/kg -0.25 M'siaAug M 2 30.50 '/kg +0.50 KL Tin Turnover 82 tonnes -13 Spot M$l6.2(Vkg +13 Crude palm Turnover 1071 lots +339 Jul M$668/tonne -3
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  • Article
    S'pore-Indon economic ties hitting a peak
    440 1  -  From Genevieve Cua in JAKARTA ECONOMIC cooperation between Singapore and Indonesia is reaching an all-time high, with the growth triangle concept as a catalyst. Mr Sanyoto Sastrowardoyo, chairman of Indonesia's Investment Coordinating Board (BKPM), told BT the two countries will join forces this year
    440 words
  • Article
    Asian dragons fast warming to Jakarta's lower costs
    433 1 INDONESIA is becoming a hot investment favourite of Asia's four dragons, all of whom are hard-pressed by high business costs in their home markets. The four countries Hongkong, South Korea, Taiwan and Singapore committed a total of US$l.6 billion in investment in
    433 words
  • Article
    Greenspan's rate hints boost shares worldwide
    391 1 HINTS by Federal Reserve chairman Alan Greenspan of lower US interest rates yesterday sent share prices rising on major bourses worldwide, while the US dollar plunged on currency markets. In Singapore, the Straits Times Industrial Index jumped 31.47 points, or 2 per cent, to
    391 words
  • Article
    Fed may ease up
    74 1 US Federal Reserve Chairman Alan Greenspan said on Thursday the central bank may have to ease credit policy to offset what looks like a tightening in credit markets. In testimony to the Senate Banking Committee, he said that bank lending rates are firming despite a stable
    74 words
  • Article
    JC-MPH sells entire stake in Cannons UK
    385 1  -  By John Tan DIVERSIFIED group Jack Chia-MPH has sold its entire stake in Cannon Sports Club UK (Cannons UK) and the "Cannon" trademark for £12 million ($39.2 million), reaping a $25.9 million gain. In an announcement yesterday, JC-MPH said it had signed a
    385 words
  • Article
    Lock icon US defines aid package for Moscow
    100 1 NYT THE BUSH administration and the Senate Foreign Relations Committee have reached an agreement on the structure of an economic aid package for Eastern Europe that would allow the president to provide technical help to Moscow for the first time, US officials said on
    NYT  -  100 words
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      Page 1 Advertisements Column 1
      105 1 Nikon Ttw Wbrid't Ftowct PhotoypNc System. lady's a Aircraft Schedule EL 11 Commodities Company Neva 5 Cryptic Crossword El 11 Executive tabs El 8 Futures Options Interbank Forex Rates 14 Home News KLSE 10 Money Changer Rates EL 11 Money Martet Regional Stock Markets -^12 Ships m Port 2 Sanex
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      Page 1 Advertisements Column 2
      16 1 OPINIONS Working women: Sweeteners aren't a lasting cure. EL 2 The Great Singaporean Novel. EL 2
      16 words
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      Page 1 Advertisements Column 3
      16 1 PURSL ITS A flavour of old EL 3 rffn i*fc *n Inflation gauge falls, Pg 16
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      Page 1 Advertisements Column 4
      8 1 Involve Malaysia in joint defence matters, Pg 16
      8 words
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      Page 1 Advertisements Column 5
      171 1 Nikon Ww*Jtf«pNc tytfam. FINANCE go? EL 9 Sterling has much going for it EL 10 JOBS LimChong Kiat Looking forward to days of roses. EL 8 LIFESTYLE A none-too-healthy encounter. EL 5 EL/Cluedo Contest Vying for the trip to Torquay. EL 6 Involve KL in joint defence matters: BG Lee,
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Ministry organising concert to raise fund
        53 2 THE MINISTRY of Communications and Information is organising a concert by the Singapore Symphony Orchestra (SSO) to raise funds for the 25th Anniversary Charity Fund. MCI said that the SSO will perform "An Evening of Tchaikovsky" on Thursday, August 23, at 8.15pm at the
        53 words
      • Article
        Talk by British academics
        53 2 THE British Council is bringing a group of senior academics from II UK government-funded universities, polytechnics and colleges to Singapore. They will give a public presentation and a series of seminars to provide information on degree opportunities in management, business, accountancy and finance in Britain, the
        53 words
      • Article
        BP opens 40th service station
        52 2 BP SINGAPORE'S 40th service station at Jurong West will be officially opened today by its chief executive for South-east Asia, Mr G G Harvey. The new station, which was built at a cost of Sslo million, will mark another milestone in BP's retail investment programme,
        52 words
      • Article
        Mindefs giant star balloon
        38 2 THE MINISTRY of Defence will put up the first giant star balloon at Orchard Road on Monday. Cranes, trucks and technicians will be working round the clock to hoist the giant balloon, Mindef said.
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      • Article
        NZTP to offer 2nd scholarship
        59 2 THE NEW ZEALAND Tourist Publicity Office (NZTP) is offering a second scholarship to a young, deserving adventurous Singaporean to take part in a 23-day Outward Bound course in New Zealand. The course will be conducted by the prestigious Cobham Outward Bound School in Malborough Sound,
        59 words
    • Article, Illustration
      Office rent: S'pore up, HK down, KL still low
      322 2  -  By Lim Mui Khi WHILE the net rents of prime office space in Singapore increased in the six months to December last year, those in Hongkong fell. In December last year, annual rents here were just below US$5OO psm compared with
      322 words
    • Article
      S'pore joins US$ 175m cable tie-up
      192 2  -  By Rahita Elias SINGAPORE Telecom has invested US$6 million in the Hongkong-Japan-Korea optical fibre submarine cable system, which was commissioned earlier this week. The fifth largest investor in the US$l75 million system, Singapore Telecom will have digital circuit capacity between Hongkong, Japan and South
      192 words
    • Article
      Micro-organism bank plan
      245 2  -  By Claire Leow SINGAPORE may set up a bank for micro-organisms to be linked with other interna-tionally-renowned centres. "A small depository for micro-organisms linking up with the world-renowned centres in USA or UK is being considered," said the director of the national biotechnology programme, Mr Teoh Yong
      245 words
    • Article
      Lippo signs US$ 100m facility to aid exports
      155 2 INDONESIA'S Lippo Bank yesterday signed a US$lOO million note issuance facility (NIF) here, with plans to use the proceeds to finance the country's rapidly expanding export sector. The facility was arranged and managed by Singaporebased Schroder International Merchant Bankers Ltd. Commenting on
      155 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      531 2 fenri fry Ho Birth fcrwd Departat Vmri Voy Wo Berth Arrwal D *P*^*_ Keppd Wharves Pettim 21 5/90 M3B 1407/0700 1407/1500 Inatxikwa 21/90 K18 alongside 13.07/2300 Prtten 1 5/90 M3A 14 07/0700 14 07/1500 Kateng 9004 K33 alongside 13.07/2100 Puramaga 1 8/90 M4A 14 07/0900 14 07/1500
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    • Article
      CONTAINER SCHEDULE
      1084 2 RECEIVING OF EXPORT Fa CONTAINERS AND LCL CARGO Record Boofcnf/Babnce RsMs Shp Voy No Period From To From P of DiscBai Space M Nbrqab 49 1 13/1500 13/1659 13/1900 2 13/1700 14/0659 14/0900 3 14/0700 14/1159 14/1400 4 14/1200 14/1459 14/1700 Aii Glory ***** 3 14/0700 14/1159 14/1400
      1,084 words
    • Article
      IN MALAYSIAN PORTS
      356 2 Port King South Port on My 13: Candra Dewi berth 1; Victoria Cob berth 1; Hoegh Clipper berth 2; Soon Hoe berth 2; Bangkok Yai berth 3; Mutia Hayu berth 4; Beriasa berth 4; Megah Brooke No 1 berth 7. KCT: Cheung Hing berth 7A. North Pert:
      356 words
  • Page 2 Advertisements
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      203 3 Iff;: We treasure our friends... §1 MAM 1»1.N HKS2I7W- SK°«VO«O2/ •v *****5/-HETT i i i v v %w For years now we have been working '4 closely with a large renown Jewellery r- ■< HK$ 2S2S/- I V\\lJM Ik\\\ fi/ r?77 MKf *****/ J J s,M#IMeTT Factory in Hong Kong.
      203 words
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Emtex proposes rights issue of 76.3 m shares
        112 4 EMTEX CORPORATION Bhd has proposed a one-for-one rights issue of 76.31 million new shares at Msl each. The proposed exercise will increase its issued and paid-up capital to 152.62 million from 76.31 million shares. Amanah Merchant Bank Bhd, in a statement on
        112 words
      • Article
        FIC nod for Granite's purchase
        137 4 THE MALAYSIAN Foreign Investment Committee has approved Granite Industries Bhd's proposed acquisition of 720,746 Msl shares representing a 29.08 per cent stake in PDL-Wylex Sdn Bhd. Granite said the approval was given subject to it obtaining the approvals of the Trade and Industry Ministry, the
        137 words
      • Article
        United Malacca giving bonus
        210 4 UNITED MALACCA Rubber Estate Bhd has proposed a two-for-one bonus issue involving 26.65 million new shares of MS 1 each. The funds for the bonus issue would be capitalised from the capital and other reserves account and the revenue reserves account. Upon completion of the proposed
        210 words
      • Article
        Duff clarifies share sale
        58 4 DUFF BHD said the sale of 45 per cent interest of Syarikat Larut Jaya Sdn Bhd is not subject to any approval. In a reply to queries by the KLSE, Duff said the sale is to reduce further borrowings which will result in savings in interest
        58 words
      • Article
        K Kellas names 3 new directors
        35 4 KINTA KELLAS Investments pic Co announced the appointment of three additional directors Datuk Zaidan Haji Othman, Mr David Frederick Wilson and Mr Halim Saad with effect from July 6.
        35 words
      • Article
        Bedford unit sells subsidiaries
        42 4 BEDFORD Construction Sdn Bhd has disposed of two of its subsidiaries, Great Chance Enterprise Sdn Bhd and Package Development Sdn Bhd, to DB Corp Sdn Bhd for Mssoo each. Bedford Construction is a wholly-owned subsidiary of Bedford Bhd.
        42 words
    • Article
      Warrants: premiums and gearing
      705 4 Prices (as at 12.7.90) Conversion terms (discount) Expiry Amount Optional" using 4 Company Issued Wrts Share Lnstk Lnstk I "Gearing (m units) Conv Exer nom Cash Cash 1 Ln st* ratio price value > C&cwt 37.5 2.050 4.580 1.00 3.09 12 2.23 26.4 93 33 Causeway
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    • Article, Illustration
      SSE set to offer 50m shares at $1 each
      372 4  -  By Magdalene Ng SINGAPORE Shipbuilding Engineering Ltd (SSE) is offering some 50 million shares to the public at $1 each as a prelude to a listing on the Stock Exchange of Singapore. The share offer is expected to be launched next
      372 words
    • Article
      Harrison & Crosfield sells Singapore subsidiary
      259 4  - Harrison Crosfield sells Singapore subsidiary By David Chew UK-BASED Harrison Crosfield pic has sold its wholly-owned Singapore subsidiary, Harrison Crosfield (S), to Harricros (S), which is controlled by three of its former employees. Mrs Amy Aw, Harricros' executive director (finance), said the company signed the sales agreement with H&C (London)
      259 words
    • Article
      Lock icon Duta Consolidated aborts plans to acquire Safeguards
      441 4 MBT DUTA CONSOLIDATED has aborted proposals to buy Safe Guard Security Protection as little progress was made in implementing an overall restructuring scheme since the signing of the sale and purchase agreement. In a statement on behalf of Duta, Malaysian International Merchant Bankers
      MBT  -  441 words
    • Article
      Rashid Hussain profits triple to M$ l8.3m
      476 4 BULLISH STOCK market conditions in Malaysia have helped stockbroker Rashid Hossain Bhd (RHB) to almost triple its group post-tax profits to M$ 18.33 million for the year ended May 29, 1990, and to revise its forecast for the current financial year to Ms3o
      476 words
    • Article
      Lock icon MWE to buy Batu Caves property
      128 4 Bernama MWE HOLDINGS Bhd, through subsidiary MWE Properties Sdn Bhd, has entered into a conditional agreement with Ong Kian Teck Wood Preservation Sdn Bhd to purchase a piece of leasehold land together with the buildings in Batu Caves, just outside Kuala Lumpur, for Ms
      Bernama  -  128 words
    • Article, Illustration
      A sharper profile for Tong Meng
      558 4  -  MARKET TALK By Abdul Hadhi AFTER YEARS of maintaining secondary interest in locally-listed Tong Meng Industries, Public Bank president Tan Sri Teh Hong Piow has moved in with one of the fastest takeovers in local stockmarket history. Through Fairbanks Holdings and related companies. Tan
      558 words
  • Page 4 Miscellaneous
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon GTE agrees to acquire Contel for US$ 6.25b
      433 5 FT GTE, the US independent telephone group, has agreed to buy Atlanta-based Contel Corp for U556.25 billion in stock in the largest takeover Wall Street has seen for a year. The takeover will create a US telephone company rivalling in size the
      FT  -  433 words
    • Article, Illustration
      Lock icon Feud threatens Hongkong's future satellite and cable TV services
      224 5 AFP HONGKONG'S future satellite and cable television services are threatened by the two rival firms who have vowed to back out unless the government decides how to regulate the industry, press reports said yesterday. Hutchison Whampoa Ltd, which is behind a
      AFP  -  224 words
    • Article, Illustration
      Lock icon Sematech still has panel support
      346 5 NYT THE US National Advisory Committee on Semiconductors is still in favour of an increase in financing for Sematech, the semiconductor industry consortium. The chairman, lan Ross, said this after the committee released a report documenting a sharp decline in the competitiveness of the American
      NYT  -  346 words
    • Article
      Lock icon Pathe accuses Time Warner of hiding facts
      201 5 Reuter PATHE Communications Corp, in a US$5OO million lawsuit filed against Time Warner Inc, accused Time of concealing material facts when it entered into a financing and film distribution deal with Pathe. The suit was filed in the Los Angeles Superior Court as
      Reuter  -  201 words
    • Article
      Lock icon Accor buys Motel 6 from KKR
      379 5 NYT MOTEL 6, the budget motel company, agreed on Thursday to be acquired by the French-based hotel giant Accor SA for US$l.3 billion in cash, the two companies announced. The deal is considered a coup for Kohlberg, Kravis, Roberts Co (KKJI), the le-veraged-buyout firm
      NYT  -  379 words
    • Article
      Lock icon President of Cray Research resigns
      267 5 NYT MARCELO Gumucio has submitted his resignation as president, chief operating officer and a member of the board of Cray Research Inc, the leading world maker of supercomputers. Cray chief executive officer John Rollwagen cited differences of management style for the surprise departure of Gumucio,
      NYT  -  267 words
    • Article
      Lock icon Mitsubishi Kasei to set up Indonesian unit
      192 5 Reuter MITSUBISHI Kasei Corp, Japan's leading chemical manufacturer, is to establish a jointly-owned subsidiary with Indonesian conglomerate PT Bakrie Brothers to produce raw material for polyester fibres, a Mitsubishi Kasei spokesman said. PT Bakrie Kasei Corp, to be formed in October, will be
      Reuter  -  192 words
    • COMPANY BRIEFS
      • Article
        French firm wins US$ 180m Thai deal
        98 5 FRENCH CONSTRUCTION group Bouygues has signed a contract for one billion francs (US$lBO million) with Bangkok Land to build eight factories in Thailand. The contract is believed to be the biggest real-estate deal ever reached in the country. It is for the first
        98 words
      • Article
        Asahi abandons planned tie-up
        97 5 ASAHI BREWERIES Ltd has abandoned its planned tie-up with US brewer Adolph Coors Co to produce beer in the US, an Asahi spokesman said. Asahi announced in January that it would consign beer production to Coors' brewery in Colorado, or build its own brewery on the
        97 words
      • Article
        Philippine plant for Honda
        47 5 HONDA MOTOR Co Ltd will set up an automotive engine plant in the Philippines at an estimated cost of 240 million pesos, Trade and Industry Undersecretary Tomas Alcantara said. Honda Engine Manufacturing Inc, a whollyowned subsidiary of Honda Motor, will undertake the project.
        47 words
      • Article
        MNB Thai to boost output
        66 5 MNB THAI Ltd, a wholly owned subsidiary of Minebea Co Ltd, plans to boost miniature bearing output at its plant in Thailand to meet increasing demand abroad, a spokesman for the bearing manufacturing firm said. The Ayuttaya plant, located north of Bangkok, will increase production
        66 words
      • Article
        Marudai buys Taiwanese plant
        77 5 JAPAN'S Marudai Food Co has purchased Taiwan's second largest meat packer for US$6 million. Marudai officials said the acquisition of Swiss Fine Foods Corp, a subsidiary of Taiwan's Shui On Group Ltd, would give Manidai its First overseas plant. They said that Marudai, a leading ham
        77 words
      • Article
        Campeau plans land sale
        56 5 CAMPEAU CORP has signed a tentative agreement to sell 2,400 acres of land near Ottawa to Richcraft Homes Ltd. Industry representatives said the land could be worth between Cs36 million and Cs6o million. "We've signed a tentative contract but it's a long way off from being
        56 words
      • Article
        Japanese tie-up in Hungary
        63 5 C ITOH and Co, a major Japanese trading house, has agreed to cooperate with Austria's second largest juice maker in setting up an apple juice plant in Hungary this year. Company officials said C Itoh has purchased 10 per cent of the outstanding shares of Steirer
        63 words
      • Article
        Judge declares mistrial
        59 5 A US FEDERAL judge declared a mistrial on Thursday on 26 outstanding felony charges against former Wall Street speculator John A Mulheren Jr. US District Judge Miriam Goldman Cedarbaum then excused the jurors, who on Tuesday convicted Mulheren of four counts of conspiracy and stock manipulation for
        59 words
      • Article
        Longer debt profile sought
        38 5 STATE-OWNED Electricity Corp of New Zealand Ud will try to lengthen the maturity of its borrowings as it completes refinancing of debt to the government, chief executive Rod Deane said in the annual report.
        38 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      77 5 l-TSnSTTI MAEKOK RIVER LODGE 11 Beautiful Teakwood Hotel on the Bank Hi on the Maekok River in Chiangmai fS| Excellent tour base for rafting and j I Only Hotel of this standard in the area. Existing tour and accommodation mm® I contracts held. J Outright sale or joint venture I®
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      Page 5 Advertisements Column 2
      115 5 BY ORDER OF HER BRITANNIC MAJESTY'S GOVERNMENT Prime development land in Kuala Lumpur, Malaysia NEW SUBJECT ZEALANO PROPERTY HIGH COMMtSSKX f FRENCH V\ EMBASSY AMPANG PARR I SHOPPING < >t .*L AMPANO rd BRITISH CHINESE V\ Son EMBASSY r \f\ RACECOURSE I □cf rS\ osr SHANGRI LA A/ SINGAPORE L--
      115 words
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  • THE REGION
    • NOTE BOOK
      • Article
        Japanese loan package for Philippine projects
        46 6 THE JAPANESE government has approved a 6.947-billion yen (US$46.B million) package to finance several Philippine niral development projects. Manila formally received the assistance in signing ceremonies attended by Foreign Secretary Raul Manglapus and Japanese ambassador to Manila Tsuneo Tanaka yesterday.
        46 words
      • Article
        Taiwan eases forex controls
        63 6 TAIWAN is to further relax foreign exchange controls by doubling to US$2 million the value of foreign currency an individual may send to the island each year. The relaxation, effective July 20, comes as the local currency has stabilised against the greenback, and is in line
        63 words
      • Article
        KL may legalise Indon workers
        53 6 THE Malaysian government may have to legalise Indonesians working illegally in Malaysia if local workers do not want to take the jobs, Deputy Prime Minister Abdul Ghafar Baba said yesterday. Indonesian officials have estimated there are about 500,000 Indonesians working illegally in Malaysia. No official
        53 words
      • Article
        Tourists going back to China
        55 6 TOURIST ARRIVALS in China, which slumped after the military crackdown on democracy protests last June, have recovered this year. China's National Tourism Administration said about 11.23 million tourists visited the country in the first five months of the year, similar to peak levels reached in
        55 words
      • Article
        China warns illegal recruiters
        78 6 CHINESE authorities have warned Hongkong, Macau and other overseas firms not to attempt to recruit workers illegally in the country, a semi-official Chinese news agency reported yesterday. The Public Security Department in the southern Chinese city of Guangzhou has urged all overseas firms to recruit through
        78 words
      • Article
        Nineteen new channels for NZ
        40 6 NEW ZEALAND'S Commerce Commission yesterday approved the establishment of 19 new local television channels by a subsidiary of the state-owned Television New Zealand. Broadcast Communications Ltd won the frequencies in public bidding earlier this year.
        40 words
      • Article
        Crisis for Pacific island
        77 6 THE REMOTE Pacific island nation of Niue is down to its last 380 litres of fuel and has only 10 days worth of consumer goods left, the country's Radio Sunshine reported yesterday. Niue, a 258 square kilometre island 2,200 kilometres northeast of Wellington, is home to
        77 words
    • Article
      Lock icon M'sia reaps M$ 755m to date from privatisation
      421 6 Bernama PRIVATISATION, introduced in Malaysia during the prolonged world economic recession in the early 80s, has helped ease government administrative burden, including the reduction of 31,000 personnel. Energy, Telecommunications and Posts Minister Datuk Seri Samy Vellu said the sale of the government's
      Bernama  -  421 words
    • Article
      Lock icon More foreign investors pulling out of the Philippines
      371 6 Reuter WITHDRAWAL of foreign investment from the Philippines rose sharply in the first four months of the year, reflecting investor nervousness over the political situation, statistics from the Central Bank showed. Foreign investors withdrew US$9B million between January and April, compared with
      Reuter  -  371 words
    • Article
      Lock icon Manglapus urges Asean to forge formal economic, security pact
      209 6 Reuter PHILIPPINE Foreign Secretary Raul Manglapus yesterday urged South-east Asian nations to strengthen economic and security cooperation, and suggested that the region discuss a formal treaty linking their economies. Mr Manglapus said he would propose a treaty linking the Asean economies
      Reuter  -  209 words
    • Article
      Aussie industry wants continued assistance
      219 6 THE Australian Manufacturing Council has called for positive assistance to industry and argued against the Garnaut report's target of zero tariffs by the year 2000, according to The Australian Financial Review. The AMC claimed the proposals in its own report, "The Global Challenge: Australian Manufacturing
      219 words
    • Article
      Post-1997 Cocom curbs may not affect Hongkong
      234 6 THE POST-1997 Hongkong Special Administrative Region could receive favourable treatment regarding the importation of Western hightechnology products despite any restrictions which may apply to China at the time, according to The South China Morning Post. Mr Richard Williams, the United States' Consul General
      234 words
    • Article, Illustration
      Shellshocked in Manila
      46 6 BOMB WAVE: An employee of China Airlines in Manila and a guard check the damage to their office in one of a series of bomb explosions which rocked Manila and the Philippines' financial district of Makati early yesterday. No one has claimed responsibility.
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    • Article
      Soviet traders hold export fair in HK to explore market
      260 6 SOVIET TRADERS took their first step into the Hongkong market on Thursday with the opening of the Soviet export fair at the Convention and Exhibition Centre, the South China Morning Post has reported. "It is not as big as we
      260 words
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      Page 6 Advertisements Column 1
      232 6 SE ND A COUNIRY REPORT Mow and then, you send performr— —ance reports to your head office or The StraitS r DmeSra your report complete with a country report. But don't bother doing rwißi,ijjjiiiJ>iii.-*iiii<.iyraMiaß it yourself. Because there's The Straits pm, ckwe to tears, teDa natkn: People—they're Times Weekly Overseas
      232 words
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  • THE WORLD
    • Article, Illustration
      Lock icon Kaifu acts to bridge US communication gap
      547 7 Reuter JAPANESE Prime Minister Toshiki Kaifu on Thursday publicly proposed a new initiative which he had already outlined to President George Bush aimed at improving communication between the two peoples. "We are being called upon to deepen mutual understanding of the way each
      Reuter  -  547 words
    • Article
      Lock icon New rules prompt shift in Japanese bank funding
      390 7 Reuter JAPAN'S major banks, striving to build capital to meet international banking standards, are shifting their fundraising strategy to debt markets in a move that promises to slow asset growth. Japanese bank officials said they are largely blocked from raising new capital
      Reuter  -  390 words
    • Article
      Lock icon US orders loan write-offs
      222 7 AP FEDERAL regulators have ordered America's largest banks to write off as a loss large portions of about US$l4 billion in outstanding loans to economically troubled Brazil and Argentina. The order requires 36 affected banks to write off 20 per cent of about 11 billion in
      AP  -  222 words
    • Article
      Lock icon Tokyo proposes talks on machine tool tie-ups
      311 7 AP JAPAN'S trade minister has proposed a dialogue possibly leading up to joint ventures in the machine tool industry. Rabun Muto, touring Cincinnati on Thursday after attending the Houston economic summit, said the proposal was part of his plan to send a mission
      AP  -  311 words
    • Article
      Tokyo electronics firms look to US$l trillion world market
      531 7 ANTICIPATING a potential market worth more than US$l trillion, Japanese electronic goods makers are heading into the 21st century with high hopes, according to the Japan Economic Journal. A report by the Japan Electronic Industry Development Association, a business organisation of
      531 words
    • WORLD WATCH
      • Article
        Polish privatisation bill: clears lower house
        73 7 Polish privatisation bill clears lower house POLAND'S Lower House of Parliament has overwhelmingly approved a landmark government bill to privatise the economy. Deputies voted 328 to two with 39 abstentions for the law, which the government says will enable it to privatise the economy faster than any other country. The
        73 words
      • Article
        Investment meeting
        125 7 THE Japan-China Joint Committee on Investment will hold its first meeting in Beijing from July 19 to 20, the Foreign Ministry said yesterday. The committee, which came into being on May 14, 1989, is based on Article 14 of the agreement between Japan and China concerning the encouragement
        125 words
      • Article
        Varsity computers infected
        116 7 ABOUT 100 IBM personal computers at Tokyo's Waseda University have been infected with a 'Friday the 13th' computer virus, university officials said yesterday. The affected computers were among some 400 IBM 500 series machines PS-5550 and PS-5560 personal computers at the Information Science Research and Education Center
        116 words
      • Article
        US panel approves defence bill
        163 7 THE influential Senate Armed Services Committee has approved a US$2B9 billion defence bill that cuts troop strength in Europe by 50,000, congressional sources said. In a session that began early Thursday and ended shortly after lam local time on Friday, the committee agreed to an
        163 words
      • Article
        Bush's aid condition criticised
        59 7 US President George Bush's requirement that Western credits for the Soviet Union be linked to the level of Soviet military expenditure was called unrealistic and "difficult to accept' by the Soviet news agency Tass on Thursday. "President Bush's reasoning, while it might have been pertinent in
        59 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      71 7 BT ACRONYM CONTEST CONGRATULATIONS TO THE FOLLOWING WINNERS MS TEO SOO KIAN *****18/G MS LEE SOK BOON *****25/G MR WONG SEE MENG *****52/ C MDM CHONG KIM KEE *****08/G MR SOH YEE HAW *****29/Z You have each won yourself a $400 Fratelli Rossetti voucher sponsored by Business Times and Gamut
      71 words
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      Page 7 Advertisements Column 2
      88 7 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look at
      88 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Stock prices soar on brisk buying
      4286 8  -  By Magdalene Ng BACKED BY ANOTHER strong showing on Wall Street overnight, investors went on a buying spree on the local bourse yesterday and pushed share prices to higher levels. Prices in all sectors rose, with some blue chips and banking stocks posting large
      4,286 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4016 9 Main FAN 910 +50 +5.8% NatSted 965 +45 +4.9% S1A 1450 +40 +2.8% SIA 200 1440 40 2.9% (JOB 700 +30 +4.5% SPH Foreign 1140 +20 +1.8% Isetan 50* 855 +15 +1.8% Inchcape 535 +15 +2.9% EMS 50* 265 +13 5.2% Wine Tai 25* 245
    4,016 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market rises on a broad front on strong buying
      3819 10 Bernama SHARE PRICES in Kuala Lumpur closed higher across the board yesterday on strong buying and follow-through support, spurred by the bullish Tokyo market and the record close on Wall Street overnight. However, a handful of issues retreated from the day's
      Bernama  -  3,819 words
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      Page 10 Advertisements Column 1
      140 10 BT SURVEYS Looking Wider, Thinking Deeper Some subjects are of such Interest to our readers that they demand more space and more research than can be given In our dally reporting. As part of BT's overall service we have always recognised this and taken the necessary steps. Pilling the gap
      140 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nikkei closes higher for third consecutive day
      2262 11 Reuter TOKYO STOCKS closed firmer yesterday on subdued optimism over a stronger yen and the possibility that US credit is about to ease. Though the gains were modest, the Nikkei Index closed higher for the third straight day and advanced nearly 200 points
      Reuter  -  2,262 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Index breaches 3,500 level on higher volume
      2511 11 Reuter SHARE PRICES in Hongkong yesterday ended sharply higher on follow-through buying after the Hang Seng Index breached the 3,500 level at midday. The Hang Seng Index closed 38.57 points higher to 3,507.16 and the broader-based Hongkong Index surged 27.42 points to 2,306.51.
      Reuter  -  2,511 words
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  • REGIONAL STOCK MARKETS
    • Adsteam softens Australian market
      • Article
        Untitled
        87 12 Owe Pririiw J«Jy 13 SYDNEY All Ordinaries Index 1,598.8 1606.5 -7.7 All Industrials Index 2,503.6 2519.3 -15.7 An Resources Index 909.8 911.8 -2.0 Turnover (million) 186.78 170.5 -4-16.28 BANGKOK SET Index 1,053.5 1056.46 -2.87 Turnover (nearest '000) NA NA JAKARTA Composite Index 630.02 627.96 2.06 Turnover (nearest *000) NA NA
        87 words
      • Article
        Untitled
        329 12 In local cwrency I" S$ j" S dj> S >rar (toy jw *■> Jnly 12 Index ctog change change —chafe chafe —chafe w, 432 5 0 5 -7.0 0.4 -10.9 0.0 -6.9 Wodd 432.5 05 ii? q3 -11.3 r 454 7 0 5 0.9 0.1 2.6 -0.3 7.2 Euny W7
        329 words
      • Article
        AUSTRALIA
        1123 12 THE AUSTRALIAN sharemarket finished slightly weaker yesterday, dragged down by the sale of the Adsteam group. The All Ordinaries Index ended 7.7 points weaker at 1,598.8, after briefly dipping below to 1,597.1 late in the afternoon session. The All Ordinaries Index has gained 100.3 points so far this month
        1,123 words
      • Article
        BANGKOK
        646 12 THAI STOCKS yesterday finished slightly lower in steady trade with buying support for selected finance shares, brokers said. The official SET Index lost 2.87 points to close at 1,053.59 in moderate turnover. "The market was very weak in the absence of fresh buying incentives. Prices should trade within a
        646 words
      • Article
        JAKARTA
        559 12 THE Jakarta Stock Exchange closed 2.05 points higher at 630.02 but activity in yesterday's half-day trade was limited, with brokers and investors holding fire for Indah Kiat, the exchange's biggest ever new issue on Monday. Star performer was pharmaceutical firm Procter and Gamble, which leapt 3,500 rupiah to close
        559 words
      • Article
        MANILA
        535 12 PHILIPPINE shares yesterday fell in early trading after a series of bomb blasts in Manila, but buyers came in later and halted the slide, brokers said. The Manila Stock Exchange Composite Index shed 4.87 points to close at 884.17. The combined volume at the two bourses rose to 756.9
        535 words
      • Article
        NEW ZEALAND
        363 12 THE New Zealand share market inched back in afternoon trade yesterday, in line with easier prices in Australia, but was still marginally higher overall amid keen sentiment. "People were expecting it to come back further but it held up," a broker said. "It was still a good effort
        363 words
      • Article
        SEOUL
        803 12 SEOUL stocks fell across the board yesterday in very thin trading on investor concern about political in-fighting in the National Assembly, brokers said. The composite index closed at 688.78, down 13.13 points from the previous session. Turnover was 88.3 billion won compared with 125.4 billion on Thursday. Falls led
        803 words
      • Article
        TAIPEI
        328 12 TAIWAN share prices yesterday closed higher after a day of erratic trading with institutions' buying of financial and industrial issues, brokers said. The Weighted Index rose 228.63 points, or 4.9 per cent, to close at 4,854.72 against Thursday's 4,626.09 finish. Turnover climbed to NTSSO.S billion from NT537.6 billion. Taipei
        328 words
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  • WORLD STOCK MARKETS
    • Greenspan's remarks send Dow surging
      • Article, Illustration
        NEW YORK
        969 13 FEDERAL RESERVE chairman Alan Greenspan's comments that the Fed might ease monetary policy touched off a blizzard of afternoon buying on Thursday that boosted US blue chips to a new closing record high. "What helped fuel it are Greenspan's remarks," said Ralph Bloch of Raymond James and Associates.
        969 words
      • Article, Illustration
        LONDON
        769 13 SHARE prices ended higher on London's Stock Exchange on Thursday, helped by a weaker pound. But prices Finished well below their session highs, mostly because of profittaking, dealers said. The Financial Times-Stock Exchange 100-share index rose 10 points, or 0.4 per cent, to close at 2,370.5. The index gained
        769 words
      • Article
        FRANKFURT
        312 13 WEST GERMAN shares ended 0.8 per cent higher yesterday, spurred by strong buying interest in four individual stocks which boosted the 30-share DAX index and prompted light buying across the board, dealers said. Dealers said Bayer, Daimler, Deutsche Bank and Bayerische Vereinsbank were all heavily bought, with US and
        312 words
      • Article
        BRUSSELS
        157 13 BELGIAN shares rose in active trading yesterday as the market reacted positively to gains on Wall Street. Volume was 200 million francs soon after the opening. Featured stocks included re- tailers, chemical stock UCB and holding companies. Retailer GB-Inno-BM was the most actively traded share, jumping 18 francs to
        157 words
      • Article
        JOHANNESBURG
        392 13 GOLD shares perked up in early Johannesburg trading yesterday, recovering Thursday's losses with help from an overnight rally in the bullion price to around $358. But dealers said the level of activity remained light in an uncertain and cautious market, describing the recovery as a mainly technical correction ahead
        392 words
      • Article
        MILAN
        180 13 ITALIAN share prices held steady overall in lively early trade yesterday on the last day of the July trading month, broker said. Fiat Ordinary lost ground, but its privileged and savings shares gained. In the Ferruzzi group, Montedison eased but Ferruzzi Africola advanced. Banks were mixed with Banco di
        180 words
      • Article
        PARIS
        239 13 FRENCH share prices opened higher in the wake of Wall Street's record rise, while Lyonnaise des Eaux recouped some of Thursday's heavy losses and hotel group Acoor plunged, dealers said. The CAC-40 index started at 1,989.20, against Thursday night's close of 1,975.18. Hotel group Accor shed 55 francs to
        239 words
      • Article
        ZURICH
        358 13 SWISS shares traded steady to marginally firmer at midsession yesterday. Dealers said trading in blue chips was quiet as investors did not want to open new positions ahead of the weekend. Second liners met some demand. The all-shares SPI index was 2.7 points higher at 1,229.9 while the SMI
        358 words
      • Article
        TORONTO
        216 13 TORONTO stocks were steady at midday on Thursday, with a drop in gold shares offsetting the gains made by several blue chips, dealers said. "We're being held down mainly by gold and the transportation sector. Gold is off on the bullion price," one trader said. The composite index inched
        216 words
      • Article
        Lock icon AMSTERDAM
        247 13 Reuter DUTCH stock prices closed higher in moderate trading on Thursday with shares of large multinational concerns setting the pace, boosted by a stronger dollar. A rally in US stock prices on Wednesday and a firm trend on Wall Street on Thursday also underpinned values, brokers said. Multinationals such
        Reuter  -  247 words
      • Article
        Untitled
        84 13 July 12 Claw PrevtoM NEW YORK Dow Jones 2,***** 2,932.67 +37.13 NYSE FiiuncuJ 144.23 143.72 +0.51 SAP 500 363.44 361.23 >4.21 Turnover (million) 211.51 162.22 +49.29 L0N00N Financial Time* 30 1,170.4 1,877.7 -7.3 FTSE 100 2.370.5 2,360.5 +10.0 Turnover (million) 460.6 447.8 +12.® AMSTERDAM CBS General 1915 196.4 +11 Stock
        84 words
      • Article
        Untitled
        77 13 Vienna Jd, 12 Art Akg 5000 -20 E. Allgcm (PreO ***** 720 Jungbunzl ,4^ Hr 226 +1 vgazz >*» +,s Source: Austrian Laenderbank Stockholm July 12 Kronor Alfa Laval B Free 265 -5 Asea B Free Astra Free 595 +25 Atlas Copoo 338 +2 Encisson B Free 1363 +11 EsabFree
        77 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenspan's statement on rates weakens US dollar
      1105 14 FOREX MARKET REPORTS THE US DOLLAR fell yesterday following US Federal Reserve chairman Alan Greenspan's statement on Thursday that the American central bank was willing to lower US interest rates to counter a possible credit crunch. But the slide which began in New
      1,105 words
    • Article
      Lock icon Beijing to relax credit hold
      312 14 AP THE CHINESE government will lower interest rates on loans and make more loans available for technological improvements at enterprises, Premier Li Peng announced at a State Council meeting. It was the latest in a series of recent steps retreating from a tough, two-year austerity
      AP  -  312 words
    • Article
      FINANCIAL FUTURES
      1599 14 SIMEX EUROOOiLAR Open High Lw Sett Est Vol Op/lnt Vol Sep 90 91.91 9L93 91.86 91.86 ***** ***** 4173 Dec 90 91.93 91.95 91.87 91.87 ***** 8902 2145 Mar 91 91.90 91.93 91.83 91.83 2046 2456 604 Jun 91 91.72 91.72 91.65 91.64 257 815 259 Sep 91
      1,599 words
    • Article
      INTERBANK FOREX RATES
      396 14 Cross rates July 13 US$ S$ MS Dm Yen SFr AS NZ$ US$ 1.8130 2.6995 1.6395 147.40 0.5522 1.3895 1.2626 1.6892 SS 0.5516 1.4890 0.9043 0.8130 0.3046 0.7664 0.6964 0.9317 MS 0.3704 67.16 0.6073 0.5460 0.2045 0.5147 0.4677 0.6257 Dm 0.6099 1.1058 1.6465 89.91 0.3368 0.8475 0.7701
      396 words
    • Article
      MONEY MARKET
      567 14 Interbank rates S$ Bid Offer Overnight 4 4 1/4 1-month 7 3/16 7 5/16 2-month 7 1/4 7 3/8 3-month 7 1/4 7 3/8 Overnight mode: 5-1/4 IS$ Bid Offer 7 days 8 3/16 8 5/16 1 month 8 3/16 8 5/16 2 months 8 3/16 8 5/16
      567 words
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  • COMMODITIES
    • Article
      Lock icon Research projects expected to boost tin demand
      360 15 Bernama THE INTERNATIONAL "Tin Research Institute (ITRI) Js conducting a number of important research and development (R&D) projects which show every prospect of significantly increasing the demand for tin in the near Tuture, its director, Mr BTK Barry said. In the ITRI 1989
      Bernama  -  360 words
    • Article
      Lock icon Hungary to get less Soviet oil this autumn
      316 15 Reuter HUNGARY will get 30 per cent less oil than contracted from the Soviet Union in the third quarter, official Hungarian news agency A/77 quoted government spokesman Balazs Laszlo as saying. Mr Laszlo said a Hungarian negotiating team, currently in Moscow to
      Reuter  -  316 words
    • Article
      Bullish mood continues to boost tin price
      829 15 REPORTS THE PRICE of tin rose another 13 sen to M$ 16.20 per kg on the Kuala Lumpur Tin Market (KLTM) yesterday on continued good buying support and sellers' reserve. "Buyers continued to be bullish and engaged in shortcovering activities while miners held
      829 words
    • Article
      PRICES
      1365 15 Rubber jm y 13 HM (♦»> >■ Utn) S cents/kg Noon Close Int I RSSPrompt 154.50/155.50N I54.25/155.25N Int 1 RSS Aug 90 155.50/156 00 155.25/155.75N tint I RSS Sep 156.50/157.00 156.00/156.50N Int 2 RSS OP 153.50/155.50N 153.50/155.50N -fnt 3 RSS OP 149.00/151.OON 149.00/151.OON "Tnt 4 RSS OP 145.00/147.00N 145
      1,365 words
  • Page 15 Advertisements
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      15 15 Read Chartpoint, a guide to investing in (lie stoek market. Every Saturday in Business Times.
      15 words
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      Page 15 Advertisements Column 2
      40 15 GET THEM NOW! ,fJW K *y--; V\ 1 A \®«g?\ wty Fi^H W jj^ Available At Times the Bookshops, Guardian Pharmacy, 7-Eleven, Newsstands and from your Newsvendor Published by Times Periodicals Pte Ltd. A member of the Straits Times Group.
      40 words
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  • Article, Illustration
    Involve Malaysia in joint defence efforts: BG Lee
    394 16  -  From William Chia in Jakarta SINGAPORE would like to involve Malaysia in its cooperative efforts with Indonesia on defence matters, Singapore's Second Defence Minister (Services) Brig-Gen (Res) Lee Hsien Loong said yesterday. BG Lee, speaking after his calls on General Benny Moerdani,
    394 words
  • Article
    Lock icon Mrs Aquino puts troops on alert
    356 16 AFP PHILIPPINE President Corazon Aquino has put Troops and police on maximum alert following mysterious pre-dawn bombings yesterday of a government building and establishments frequented by foreigner. No one was injured in the attacks on the Education Department, three hotels, a shopping centre and
    AFP  -  356 words
  • Article
    Lock icon Inflation gauge falls but 'core rate' may still worry Fed
    342 16 Reuter NYT PRICES at the wholesale level slowed their gains in June, the US Labour Department said yesterday in reporting that the Producer Price Index climbed 0.2 per cent compared with May's 0.3 per cent rise. This sign of moderating
    Reuter; NYT  -  342 words
  • Article
    Lock icon Soviets vote for new Central Committee
    339 16 Reuter THE SOVIET Communist Party, rocked by the resignation of popular reformer Boris Yeltsin and a breakaway by other disgruntled radicals, voted yesterday for a new Central Committee that will determine the party's future direction. Delegates to the 28th Party Congress voted on two
    Reuter  -  339 words
  • Article
    Lock icon Negotiators weigh merits of farm reform plan
    347 16 Reuter NEGOTIATORS weighed the merits of a compromise plan to reform international farm trade on Thursday, under pressure from leaders of the world's richest industrial democracies to get down to serious bargaining. The US and the Cairns Group of 14 farm exporting countries
    Reuter  -  347 words
  • Article
    Lock icon Malaysian trade surplus plunges by 70.5 pc
    436 16 Bernama MALAYSIA'S trade surplus for the first four months of 1990 fell by 70.5 per cent to M 5917.3 million from M 53,117.7 million in the year-ago period as imports continued to outpace exports. The Statistics Department said in its latest monthly trade
    Bernama  -  436 words
  • Article
    Lock icon Overhaul economy or risk losing jobs, E Germans warned
    299 16 Reuter BUNDESBANK president Karl Otto Poehl has urged East Germany to overhaul its inefficient economy or risk massive unemployment. Mr Poehl made his remarks at the West German central bank's first policymaking council meeting in East Berlin. The session took place
    Reuter  -  299 words
  • Article
    Lock icon Americans to cut troops in Europe by 50,000
    130 16 AP THE INFLUENTIAL Senate Armed Services Committee yesterday approved a US$2B9 billion defence bill that cuts troop strength in Europe by 50,000, congressional sources said. The committee agreed to an overall budget that is USsfB billion less than what President George Bush
    AP  -  130 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      68 16 sAcchU) (ii nuine leather Collection rcT^j?r?ni ji $4 A MONTHLY MAGAZINE OF BUSINESS TRENDS Defence group restructures its sprawling empire e How should Singapore use its reserves? A tax haven on Singapore's doorstep Scouting new territories for markets The Singapore label finds a niche abroad It's time for Malaysia's Silicon
      68 words
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      Page 16 Advertisements Column 2
      4 16 Shellshocked in Manila, Pg6
      4 words
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      Page 16 Advertisements Column 3
      197 16 sAcchU Genuine Leather Collection f JAPAN/HONG KONG AND 1 JAPAN/STRAITS i I FREIGHT AGREEMENT i K Notice to Consignees I HARBOUR MANAGEMENT FUND J SURCHARGE Consignees are hereby informed thai the Harbour i Management Fund Surcharge will be applicable to I all cargoes loaded to the innovated vessels, with effect
      197 words
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  • Executive Lifestyle
    • Article, Illustration
      The lady's a gem
      1353 17  -  'Slow and steady wins the race' may well be Sin Lee Lim-Weissleib's favourite axiom. But there s nothing sluggish about the way the Singapore-born gemologist's business has grown. Because in between sifting through jade and lapis lazuli somewhere in Paris, she seems to have struck gold,
      1,353 words
    • STRAWS IN THE WIND
      • Article
        World Cup breakout
        68 17 THE FORMER cellmates of two escaped prisoners from a detention centre in Perak may have been very impressed by the method employed in the latest jail-break. Unfortunately, they will have to wait four more years if they hope to pull off the same stunt. Reason: the two
        68 words
      • Article
        It's all in the mind
        66 17 THE principal of a former-teacher-turned-reporter may or may not have been aware of the so-called psychological barrier that a second language poses. But he probably overcame it when he forbade his staff from entering his room, saying: "Nobody can enter my private parts." This same
        66 words
      • Article
        Figured out
        52 17 HAVING a car styled by Pininfarina with the smoothest V 6 in production may not count for much. Not when it's called an Alfa 164. Apparently, some superstitious Chinese are avoiding the car like the plague because the model number sounds very much like "die all the way"
        52 words
      • Article
        Uptown seafood
        29 17 WHERE do you get the best seafood in Singapore? Not from the sea, according to one cofTeeshop in Tiong Bahru, which calls itself "From Town Seafood Hut".
        29 words
    • OPINIONS
      • Article
        Volunteer work a reflection of social conscience
        681 18  -  Said Abdullah compares the spirit of volunteerism to the spontaneity inherent in a good poem Said Abdullah The writer is a sub-editQ?,. VOLUNTEERISM, as pointed out by President Wee Kim Wee recently, "is one of the hallmarks of a civilised society. It is
        681 words
      • Article, Illustration
        Federal Cables shareholders were not kept informed
        418 18  -  LETTERS TO THE EDITOR F C W Shareholders A RECENT REPORT in Business Times quoted a press statement from Federal Cables, Wires and Metal Manufacturing Bhd assaying that the company would be applying to the Malaysian High Court for an order to convene
        418 words
      • Article
        No link with Trailblazers
        82 18  -  Price Water house WE REFER to the article "UK agencies shortlisted in English mystery" (BT, July 12). We have been named as one of three firms of public accountants in Singapore as having some connection with a project initiated by a consortium known as "Trailblazers". Our
        82 words
      • Article
        Backing for persistency rule
        199 18  -  Peter Siong Honorary Secretary Life Underwriters Association of Singapore WE REFER to your article, "Tough new yardstick for life insurance agents" (BT, July 11). We would like to state that although the Life Underwriters Association is against some of the measures being introduced, the persistency rule
        199 words
      • Article
        SSO performance uncertain
        137 18  -  Ng Siew Eng Public Relations, Advertising Promotions Manager Singapore Symphonia Co Ltd IN YOUR article entitled, "Hear ye, hear ye, young maidens" (BT, June 30), it was stated that the Singapore Symphony Orchestra will be performing at the Debuntante's Ball. Our orchestra will be in recess during
        137 words
      • Article
        Sweeteners aren't a lasting curd
        1199 18  -  Introducing innovative work schemes to lure women back to the workforce is like treating the symptoms of a patient, not the illness, contends Chuang Peck Ming Chuang Peck Ming The writer is with the Features Desk SOON, the lures and incentives to entice women to
        1,199 words
      • Article, Illustration
        The Great Singaporean Novel
        1021 18  -  Will The Great Singaporean Novel (TGSN) be written? What kind of themes will the Singapore novel use? Will it embrace the theme of magic realism? Or the old-fashioned style of Thomas Hardy and Somerset Maugham? Harish Mehta looks at the novel of the future. Harish Mehta
        1,021 words
    • PURSUITS
      • Article, Illustration
        A flavour of old China
        686 19  -  Catherine Ong takes a step back into the past as seen through an Englishman's eye Catherine Ong IF ENGLISH portraitist George Chinnery were alive today, how shocked he would be. He and other artists who painted Chinese and colonial life in the 19th century would
        686 words
      • Article, Illustration
        Hey, what's an ang-mo doing in a kopi-tiam?
        686 19  -  Malini Tambyah investigates an unwanted guest Malini Tambyah APART FROM the odd fly or mosquito, some coffeeshop owners, hawkers and street vendors have had to put up with another type of "pest" recently. Actually, "it" looks more like an ang-mo tourist and
        686 words
    • EPICURE
      • Article, Illustration
        Ah, cuisine cholesterol
        575 20  -  Quek Swee Peng on shellfish at Restaurant Latour and corn-fed US prime cuts at The Stables Ouek Swee Peng A PROFESSED addiction to seafood is a weakness among most Singaporeans. While the majority grow up on chilli crabs and blachan mussels, an increasing number is acquiring the
        575 words
      • Article
        Support brigade
        301 20 THE STABLES might be unashamedly British, yet it has no qualms about joining Americans in their Fourth of July celebrations. This month, it has added US beef prime cuts from corn-fed American cattle on its menu. Mindful of American portions, I opted for the more subtle choice of
        301 words
    • LIFESTYLE 1
      • Article, Illustration
        A none-too-healthy encounter
        941 21  -  Richard Seah has a quick bite at a continental style cafe and decides such cafes are not a boon to eating well. Richard Seah Richard Seah is editor of the health magazine, The Good Life. PATE sandwich, I once ordered one at those quick-bite cafes that have
        941 words
      • Article, Illustration
        A catalogue of memorable richness
        832 21  -  N K Yong concludes his guide to red burgundy buying N K Yong THE decade of the eighties has seen a remarkable run of excellent vintages in Burgundy. A score of three, possibly four, such vintages makes the decade one of the most memorable of
        832 words
      • Article, Illustration
        Exerting pressure on opponents
        294 21  -  BRIDGE By Sybil Holloway THE 1989 Bols Tip to "play off a long suit first when looking for your ninth trick in a 3 NT contract" was put to good use by the declarer in today's deal. The hand which came up during a team event
        294 words
      • Article, Illustration
        Drawn together by the blackest of crimes
        448 22  -  For the crime was the murder of Dr Black. Samuel Ee pokes his nose in as 36 aspiring super sleuths tried to win a trip to England for the World Cluedo Championships in September Samuel Ee WHILE Colonel Mustard may have wished Miss
        448 words
      • Article, Illustration
        Talented stars in their own write
        700 22  -  Book Review By Chuang Peck Ming (toiling Stone Magazine The I 'ace n so red History Robert Draper Uoubleday. 389 pages $#.90 IS- 1967, a 21-year-old Berkeley and rock and roll fan stuped together U557,500 from family and friends to start a magazine so
        700 words
      • Article, Illustration
        Rocking 'n rapping Brown sizzles
        644 22  -  Kelvin Tan experiences a side of the black singing sensation unknown on vinyl Kelvin Tan THE PURPLE laser lights that streaked through the air weren't there to create ambience. They were there to distract you from the fact that Bobby Brown was one-and-a-half hours late.
        644 words
      • Article, Illustration
        Doing the right thing; doing things right
        423 22  -  All Dexter Lee wants is somewhere suitable to enjoy a musical Dexter Lee 1 COULD HAVE danced all night. Literally. Except I was a little cross-eyed after last Monday's live performance of My Fair Lady. And since I couldn't catch the lyrics, I
        423 words
    • SPORTS
      • Article, Illustration
        Indomitable Dittmar aiming to be No 1
        689 23  -  Chris Dittmar tells Cassandra How that he has become a different player after his win over Jahangir Khan last year Cassandra How WITH his unbelievable retrievals and drop volleys, Chris Dittmar has certainly carved a niche for himself in a game where nicks
        689 words
      • Article, Illustration
        Lim Jin Han takes the prize
        335 23  -  Yokohama Golf Classic By Cassandra How THE SKY was clear, the wind was kind, it was perfect weather. On the final day of the Yokohama Golf Gassic, luck continued to be on the side of Lim Jin Han when he carded a 3-under to
        335 words
      • Article
        Lock icon Wilander defeated
        153 23 AP MATS WILANDER's tennis comeback suffered a setback Thursday when he was beaten by Marcelo Filippini of Uruguay 6-2, 3-6, 7-6 (7-4) in the second round of the Swedish Open in Bastad on Thursday. Filippini took the tiebreaker after several unforced errors by Wilander, who was ranked No
        AP  -  153 words
    • JOBS
      • Article, Illustration
        PEOPLE IN BUSINESS
        307 24 GOH SIN TUB has been appointed as a director of Jones Lang Wootton (JLW). He has more than 20 years' -experience in the real estate J industry while with OCBC, UOB CK Tang in various posts. He will be assisting in the business development in a non-exec-utive
        307 words
      • Article, Illustration
        Coming up roses
        1256 24  -  Cambridge scholar, high-ranking military trouble shooter, corporate star, now private businessman. But Lim Chong Kiat tells Martin Soong that he's really working towards just taking it easy Martin Soong LIFE'S opportunities have always come just a little bit ahead of time for Lim Chong Kiat. First as
        1,256 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        How high can the SET index go?
        879 25  -  Why there is happiness in The Land of Smiles From Andrea Borch in BANGKOK 1 LAST year the Thai stock market led world bourses with a sizzling 127 per cent gain. And before investors became uneasy 10 days ago about the political situation
        879 words
      • Article
        Boom foreseen for KL property
        1198 25  -  From Elaine Koh in KUALA LUMPUR PRIME commercial property in Malaysia could see capital values rising 50 per cent over the next two years, with rentals rising by 40 per cent to reach new records, making this sector one of the best bets. This was
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      • DON'T QUOTE ME!
        • Article, Illustration
          Pictures worth more than a thousand words
          234 25 WHAT A banner week for business photojournalism! First the low-profile Mr Oei Hong Leong was spotted attending a function here, and the cameraman used up almost an entire roll of film to take his picture. Then Mr Wee Cho Yaw and Mr Liem
          234 words
        • Article
          Here comes the terminator
          53 25 EVERYONE knows the Monetary Authority of Singapore has clout. But did anyone know it had its own hit squad? A new MAS directive states: "(Life insurance) agents with a two-year persistency rate of 50 per cent or below for any 12-month period shall be terminated." Bang,
          53 words
        • Article
          Vietnam in Pata
          81 25 THIS is not known by many outside travel and tourist circles, but Vietnam has become a member of the Pacific Area Travel Association (Pata). Its membership application was approved some time in April or May, at the same time as an Americanbased airline and the Renaissance Cruise
          81 words
      • Article, Illustration
        All that is needed is an excuse to touch off a rally
        494 25  -  CHART By Najeeeb Jarhom Najeeb Jarhom is research manager at Fraser Roach. IT is understandable that a majority of technicallyinclined market pundits hold rather bearish views, judging from the recent dismal performance of the Straits Times Industrials Index.
        494 words
      • Article
        It may hurt to gloss over definitions of disability
        737 26  -  TAKING By Alan Street Prof Street is with the Nanyang Technological Institute. This article is contributed by the Life Insurance Association of Singapore. SO FAR in this series of articles we have talked mainly about the various types of traditional life
        737 words
      • Article, Illustration
        Lock icon Sterling has much going for it
        703 26  -  High-yielding currencies By Alan Budd Prof Budd is Economic Adviser to Barclays Bank pic THE British pound has been the strongest major currency in the past one month, rising by some 5 per cent in effective terms to its highest level since May 1989.
        Source: Tele Trac  -  703 words
      • Article
        A$ still defying economic gravity Down Under
        389 26  -  From Florence Chong in SYDNEY THE Australian dollar soared to new heights early this week, much to the astonishment of commentators who had repeatedly said that the Aussie dollar is overpriced and that depreciation was inevitable. The Aussie dollar touched 81 US cents
        389 words
      • Article
        Lock icon Economists expect a sharp fall
        383 26 Reuter THE Australian dollar's spectacular ride to 15-month highs this week could end abruptly with a sharp plunge of up to five US cents. "The rise in the Australian dollar has developed into a speculative bubble which is about to burst," Bank of New Zealand
        Reuter  -  383 words
      • Article, Illustration
        Lock icon Revived NZ dollar may beat election jitters, say dealers
        746 26 Reuter The recent strength in the New Zealand dollar has surprised the market and dealers now say the revived currency might even be immune to the usual jitters associated with an election. Dealers were forecasting a gloomy picture for the New
        Reuter  -  746 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      988 27 m H i Flight KL838 SQ24 TE28 QF5 City Kuantan Kuching Flight SQ115 SQ119 SQ12I MI311 MH641 MH643 HA 2005 2205 2320 1120 1225 1630 Flight SQ114 MH6I6 SQl 18 MH618 SQl 20 QF31 AI411 MI312 MH640 MH642 no 1745 1900 1945 2045 2100 2145 2345
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    • THE TRAVEL PAGE
      • Article, Illustration
        A delightfully topsyturvy land
        410 27 LETTER FROM GUJARAT Through the blaring cacophony of bicycles, autorickshaws, cars and bullock carts, a motorcycle with large milk cans tied astride darts through the streets of Ahmedabad with its rider bedecked in a brilliant red turban, flashing golden earrings and a fierce mustache. He is
        410 words
      • Article
        MONEY CHANGER RATES
        153 27 As at 3pm yesterday: (vocal dollar* to one unit of foreign currency Currencies Bid Offer Australian dollar 1.4300 1.4500 Canadian dollar 1.5550 1.5750 NZ dollar 1.060 ***** Sterling pound 3.2500 3.2800 US dollar 1.8110 I.82IO Ijical dollars to 100 units of foreign currency Austrian schilling 15.30 16.30
        153 words
      • Article
        WORLD TRADE EXHIBITIONS
        85 27 Duration Title Venue Organiser Tel July 24 How To Profit FromHyatt AIC 03-*****43 25 The Cost Control Aryaduta Conference Revolution Hotel. Jakarta July 30 Property Financing Jakarta AIC *****98 31 Hilton Conference July 30 New Trends In The Hilton Hotel AIC 03-*****43 31 Hotel Resort K.L Conference
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    • TIME OFF
      • Article
        THEATRE
        91 28 Carmen This opera revolves around a gypsy girl named Carmen and her affairs with Don Jose, a soldier, and Escamillo, a bullfighter. Produced by Leow Siak Fah and directed by Tom Hawkes. The opera is in English and backed by a full professional orchestra. Venue: Kallang Theatre, Date: July
        91 words
      • Article, Illustration
        EXHIBITIONS
        296 28  -  Compiled by K Jayanti Gianni Visentin An exhibition of fine sculptures by Gianni Visentin, an Italian painter and sculptor. On show at this exhibition includes a special piece "Mother Earth". The materials he worked with are gold, platinum, minerals semi-pre-cious stones and many others. Venue: Jasmine Room, Hyatt Regency
        296 words
    • Article, Illustration
      CINEMA
      445 28 Casualties of War. Michael J Fox puts his foot down when he sees some of his comrades about to have their way with a young Vietnamese girl. What he doesn't know is he who puts his foot down gets himself cut up by bad-tem-pered Sean Penn. Orchard: 11; 1.30;
      445 words
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      140 17 11 Since 1735 there has never been A QUARTZ BLANCPAIN WATCH. AND THERE NEVER WILL BE. Model shown 6595 1418 58 IB 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 four ladies' watches
      140 words
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      Page 18 Miscellaneous Column 1
      76 18 DOONESBURY BY GARRY TRUDEAU nuHLET*; IJUST\ I'MA RWJOUGHANDIPON7 IT MAY BE COMMON FOR PEAK- V 1 I TMEAF&U UMTWTO KB HOW 1 CAN TEACH MY VALUES CRATS,THET-MXPN SPENP M WCAN Tan £Gn SAY I THINK ICMKJPS UJH6N TUB PRBStPENT CfiOWP, 10 CONDONE SOMETHING fl SAY THAT I THePKSSI- lOF THE
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      60 19 M ifj ill 11 |M yi »ii 11M Wii M|M 511 jl^M p VMflßUKfll I H %k^i^ TRIUMPH INTERNATIONAL (S) PTE LTD. 37 JALAN PEMIMPIN. #02-04 SINGAPORE 2057 TEL *****11. HOM BRIEFS awmIaBcEEKCLUSVELV AT .OAiMARu.FASMtONTAiiOR fvi ERiESIAFAYETTE »:SE t a\ .VSVAA'RiA •ME *RC FAR EAS*« ME*ROGRA\O* ME" B C PARAGON
      60 words
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      1062 20 WHERE TO WINE. DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN... WHERE TO WINE, DINE... FIESTA FILIPINO JULY 9 22 AT THE TEA ROOM I hc exotic heritage of Filipino cuisine, an exuberant blend of Malay, Chinese, Spanish and American dishes prepared by master chefs specially flown in from
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      243 21 AND ENTERTAIN A Taste For Italian Masterpieces. ITALIAN PROMOTION 6 TO 16 JULY 1990 BUFFET DINNER 7 m*\ PRICE ADULTS»JV J-«rtfl— y CHILDREN $14. ALL PRKES SUBJECT J TtBHBB charge and <% cess From 6 to 16 July, we present you with the taste sensations of Italy. Authentic specialties prepared
      243 words
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      Page 21 Advertisements Column 2
      115 21 Tor^ll/A Restaurant and 1 KV/llmA Karaoke Lounges FINEST RUSSIAN AND CONTINENTAL CUISINE Romantic Candlelight Dinner with Karaoke at Troika. Happy Hours Daily $12.00++ One for one drinks Free titbits Restaurant Hours w"C j c Karaoke Hours Mondays to Saturdays Daily 1130 am to 2.30pm 6.30pm to 2.00 am Dinner: r
      115 words
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      29 23 m HL FEEL A rILA FIL* SPORTS AND LEISUREWEAR. IOMI, ORCHARD EMERALO. 218 ORCHARD ROAO (OPPOSITE SOMERSET MRT STATION). OPENING HOURS: 10.30 AM TO 130 PM DAILY. TEL: *****54
      29 words
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      465 24 DHL IN THE NEWS Advertisement DHL EXPANDS INTO INDOCHINA With rich natural nationally, DHL has set up offices service for our outgoing docuresources and abundant supply in Cambodia, Laos, Vietnam ments since we started business of labour, Indochina has been and Myanmar. in Vietnam said the Managing seen by foreign
      465 words
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      Page 24 Advertisements Column 2
      339 24 NRI Normura Research Institute (S) Pte. Ltd. SECURITIES ANALYST FOR EMERGING LOCAL MARKETS A Global Research Institute, whose client is an international investment bank, seeks to recruit an analytical and research oriented individual to join the institute. Reporting to the Managing Director of the Institute, the incumbent is responsible for
      339 words
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      Page 24 Advertisements Column 3
      155 24 1r Jjiim Paul Morgan Associates |l (Securities) Pte Ltd pp We are seeking a suitably qualified individual to assume the position of: j Pre-requisites Recognised university degree, preferably in gp Accountancy or Business Administration Mature self-motivated %p Possess good analytical mind, resourcefulness initiative Good command of the English Language, with
      155 words
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      169 26 INVESTING IN SHARES? CALL EnEE) l V L L L ASK FOR (CREDIT PLUS j When opportunity knocks you'll want to be It's so easy and convenient to apply for CREDIT ready. Here's where Hong Leong Finance PLUS. Drop by any of our 28 conveniently located and Singapore Finance can
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      Page 27 Advertisements Column 1
      58 27 The business person's choice even Tuesday. w -w- -mr- Thursday, Saturday and Sunday. Leaving Changi I 1 ±f V I.J 1 Airport at 22:15 hours and arriving at La I I \i Y 1 W Guardia or Newark International Airports the j!l v<«i r trjiij Jgcrtt kt -(ir (Jnudj j:
      58 words
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      Page 27 Advertisements Column 2
      103 27 mSMr"-" a: H > J mBmsf' w-« IT'S "ALL YOURS" HER WORLD'S NEW PROMOTION PACKED WITH GIFTS, SPECIAL OFFERS AND CONTESTS FROM LES BOUTIQUE FANTAISIE POTTER MOORE BRAUN MAX FACTOR JOHNSON'S BABY BODY MOISTURISER Workshop Enrol in our System Professional Haircare Workshop. The 2i/2 hour programme consists of a practical
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  • Page 27 Miscellaneous
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      Page 27 Miscellaneous Column 1
      284 27 8 The whole sum from the odd man 9 Spotted a measuring vessel 10 Girl Finds no point in the 11 A dock leader in Riga per- haps or another port (6) P I I I I I I 12 Touching the pact ar- ■■i ~■Branged (8) OgjJ? jjS K|
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      Page 27 Miscellaneous Column 2
      202 27 Singapore Report: Max temp 26.8* C Assoc humidity 87% Min temp 24.9° C Assoc humidity 91% Mrs of sunshine 0.00 Rainfall in mm 4.4 Rainfall this mth 52.4 Rainy days this mth 5 World forecast Asia-Pacific lli/I>o* Cond. Auckland 14/08 Showers Bangkok 33/26 Showers Beijing 30/23 Cloudy Brunei 21/23 Showers
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      Page 27 Miscellaneous Column 3
      31 27 \'u_ K\LU someTfroe n OT CRReFUL GHepsT scdfr IT'S ONLY HRUT NG S JOB PAST NlNe PND IWC F/fsl.SUeo -PRfcTRKe.R S CAT.,, -.1 -rv¥?ee C EVENING STANDARD CO. LTD.. IM2-IHO Q\cka~S>
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      Page 28 Miscellaneous Column 1
      1768 28 TODAY'S TV fIMHWPPiniHI HJO C—tary of Surpwi. NN Nm (M>. PM The Storm Boy, 2pm, TVI Animals in A young boy's 1.05 Documentary. South Australia's desolately Natural history comes pres- I 1-21 Zohor Prayer Call, beautiful Coorong Coast ented in the most palatable j-** Documentary icont d). rudely disrupted when
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      Page 28 Miscellaneous Column 2
      715 28 MOVIES ON TV The 111-Laws, Won, 8.30pm, her cell an institution TV2 which she has been confined Yet another reason for cou- t0 SirK f. s ie pies to elope rather than get Arhondis turns in a beautiful their respective families in- performance as the d, sa bl^ volved in
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