The Business Times, 27 April 1991

Microfilm: NL17476
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times MCI (P) 16/12/90 Weekend Edition, April 27-28 1991 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      M'sian shippers and freight group renew rubber pact
      54 1 Malaysian shippers and the Far Eastern Freight Conference (FEFC) have agreed to renew a rubber freight rate pact which expired last December. Under the new pact, at least 40 per cent of the rubber trade between Malaysia and Britain/European continent must be
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    • Article
      Dow lower
      41 1 THE New York stock market declined broadly yesterday morning, confronted with a gloomy assessment of the economic outlook. The Dow Jones average of 30 industrials dropped 16.34 points to 2.904.70 at 1430 GMT in the first hour of trading.
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    • Article
      Footsie higher
      29 1 LONDON SHARES were slightly higher at midday yesterday in light trading. At about 1130 GMT, the Financial Times-Stock Exchange 100-share index was up 1.1 point at 2,483.2.
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    • Article
      Cheney Building sold
      28 1 CHENEY BUILDING, a sixstorey development on Beach Road, was finally sold for close to $7 million to an undisclosed buyer earlier this month Page 2
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    • Article
      SPH earnings up
      31 1 INTERIM net earnings at Singapore Press Holdings. $76.63 million for the six months ended Feb 28, were a third higher than the corresponding period in FY9O Page 3
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    • Article
      Lloyds packs up
      24 1 LLOYDS BANK pic is closing doun its commercial banking and treasury activities in the region, including Singapore and Hongkong Page 5
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    • Article
      Expecting the worst
      34 1 FOLLOWING the breakdown of trade talks between Thailand and the US. Thai PM Anand Panyarachun is expecting his country to be included on America's hit list for trade sanctions Page 6
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BTMGA 750.67 f3.41 Kuala Lumpur ...594.42 +2.97 Tokyo 26,123.68 +84.82 Hongkong 3,625.80 +31.42 Sydney 1.537.8 +19.5 Thursday Change New York 2.921.04 -28.47 London 2,482.1 -6.5
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    • Article
      CURRENCIES
      24 1 Exchange rates USS ss 1.7755 100 Yen SS 1.2880 MS SS 0.6438 Money market rates Overnight 5 3/4 -*-9/16 3-month 4 7/8 1/8
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    • Article
      COMMODITIES
      36 1 London GoW AM fix USS354.15 US51.15 Rubber S'pore May 145 50Vkg -0.25 M'sia May 226.50*/kg +0.50 KL Tin Turnover l36tonncs Spot MS 15.75/kg +030 Crude palm oil Turnover 581 lots May MS 787 /tonne -3
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  • Article
    Workers will not take another big CPF cut, warns Teng Cheong
    420 1  -  NTUC 7th Triennial Delegates' Conference By Chuang Peck Ming SINGAPORE'S workers will not accept any deep cut in the Central Provident Fund contribution rate for employers should there be another economic downturn, labour leader Mr Ong Teng Cheong warned
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  • Article
    NTUC ready to form executive union
    123 1 NTUC is ready to form an omnibus executive union if no guidelines for executives to join rank-and-file unions appear soon. ~A constitution for an omnibus executive union has already been drafted," NTUC secretary general Mr Ong Teng Cheong said. "We are ready to file
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  • Article
    SNEF must be stronger for more effective tripartism
    185 1 TRIPARTISM is not in danger of falling apart, but the employer partner must be stronger if tripartism is to work effectively, says Mr Ong Teng Cheong. The government and unions are strong but not the employers' federation, says the NtUC secretary-general. When
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  • Article
    Lock icon Taiwan to use S'pore for investments in China
    323 1 Republic is better base than HK, says minister Reuter TAIWAN will promote Singapore instead of Hongkong as the main conduit for indirect Taiwanese investment in China, officials said yesterday. Economics Minister Vincent Siew said Singapore, which has investment guarantee pacts with both
    Reuter  -  323 words
  • Article, Illustration
    Telecom to build $150 m Telepark for private networks
    335 1  -  By Dexter Lee SINGAPORE TELECOM is planning to build a $150 million centre to meet the growing demand for space to house private telecommunications networks in the Republic. Called Telepark, the project is currently at the concept stage but is expected
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  • Article
    Goodman Fielder confirms seeking buyer for CSH stake
    382 1  -  By Lee Han Shih AFTER repeated denials. New Zealand food group Goodman Fielder Wattie (GFW) has finally confirmed persistent market talk that it is looking to sell its entire 64 per cent stake in Cold Storage Holdings (CSH) to a single buyer.
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  • Page 1 Advertisements
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        More petrol companies raise pump prices
        117 2 CALTEX, Singapore Petroleum Company and Esso have all raised their pump priees to mateh those of competitors Shell, HP and Mobil. Caltex, SPC and Esso raised their retail pump prices of leaded and unleaded petrol by 3.1 cents a litre last night. In their
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      • Article
        Jayakumar commends Mendaki
        85 2 HOME AFFAIRS Minister Prof Jayakumar has commended Mendaki for making its Carnival a national event by trying to attract all ethnic groups. At the launch of the carnival yesterday. Prof Jayakumar said the different ethnic groups in Singapore should not confine such activities to the racial enclaves
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      • Article
        Visit from Aussie minister
        59 2 THE AUSTRALIAN Defence Minister, Senator Robert Ray, called on Prime Minister Goh Chok Tong at the Istana yesterday. Mr Ray is here at the invitation of Mr Goh and to attend the closing ceremony of the Five Power Defence Arrangement exercise. He also called on Dr
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      • Article
        Oral evidence for Bills
        42 2 THE SELECT Committee on the Architects Bill, the Professional Engineers Bill and the Land Surveyors Bill will be taking oral evidence from representors on Friday, May 10, 1991, at 2.00 pm at Level 2 of the Parliament Annexe.
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      • Article
        Importance of Town Councils
        88 2 EDUCATION MINISTER and MP for the Sembawang GRC, Dr Tony Tan, said decisions made by Town Councils will shape the environment, character and identity of each estate. In a speech to launch the inauguration of the Sembawang Town Council, he emphasised that Town Councils have an
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    • Article, Illustration
      Cheney Building sold for close to $7 million
      370 2  -  By Salil Tripathi CHENEY Building on Beach Road has finally found a buyer. The six-storey building situated opposite Shaw Tower (which houses the Prince and Jade cinema halls) was sold for close to $7 million to an undisclosed buyer earlier this month.
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    • Article
      S'pore is distribution centre for The European
      173 2 ATTRACTED by Singapore's strategic location and extensive airlinks, Robert Maxwell's pan-Europe weekly The European has chosen the Republic as its distribution ccntre in the Asia-Pacific. In line with this, local company Dolphin Trade Press has been upgraded to become the weekly's regional distribution
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    • Article
      PUB to cut electricity rates by 9 pc
      252 2 THE PUBLIC Utilities Board (PUB) has decided to cut its electricity rates by 9 per cent, in its first tariff reduction since the Gulf war which ended in January. But gas rates remain unchanged. A PUB press statement said yesterday that for
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    • Article
      Gul and American Teledyne in $2m tie-up
      164 2 SINGAPORE-BASED Gul Technologies has tied up with American Teledyne in a Ss2 million venture to manufacture rigid flex printed circuits. Teledvne-GulTech, formed early this year, is 51 per cent owned bv printed circuit board (PCB) manufacturer Gul Technologies Singapore. The remaining stake is
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      571 2 Vessel toy W» Btrih Arrival Departue No toth Mai Dtpartm Kennel Wharves Super Star 9 4/91.1 MIC 27 04/1000 2 04/2200 G R Gumuspal 2/91 K33 alongside 27 04/0400 Thanhtunkyaw 2/911 MSB 2604/1615 04/0100 Kola Jaya E 895 K31 alongside 2904/0600 Thipnavm 2 02/9 M2B 2604/ 2
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    • Article
      CONTAINER SCHEDULE
      1501 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rsits Ship Voy No Etb/Btr Period From To From H.I Bhim 485N 78/1/00 3 27/0700 27/1IS9 27/1400 4 27/1200 27/1459 27/1700 An Mfede ***** 29/0700 3 27/0700 27/1159 27/1400 4 27/1200 27/1459 77/1/00 AriW MS 9106 78/7000 1
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      SPH's interim earnings jump by a third
      518 3  -  By Lilian Ang SINGAPORE Press Holdings (SPH) has chalked up a strong interim net earnings figure of $76.63 million for the six months ended Feb 28, a third higher than the same period in FY9O. The publishing and newspaper group's robust performance was
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    • Article
      DBS Asset Management leading the pack
      198 3 DBS CHARITY THE DBS CHARITY Investment race hots up this week with DBS Asset Management overtaking Nomura Singapore to take the top spot. By the end of the secondweek period on April 23, DBS Asset Management led the pack by an wide margin with
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    • Article
      SIA confirms eyeing Aussie airline stake
      149 3 SINGAPORE AIRLINES yesterday confirmed that it is thinking of acquiring a stake in either Australian Airlines or Qantas Airways Ltd or both of them. M We are looking at both Qantas and Australian Airlines," an SIA spokeswoman said. She was commenting on a BT
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    • Article
      Lock icon Technology Resources to set up new firm
      202 3 Bernama TECHNOLOGY Resources Industries Bhd is setting up a new company, Technology Resources Component Sdn Bhd, to manufacture plastic and related products, mainly for the electronics sector, its chairman and chief executive, Mr Tajuddin Ramli. said yesterday. He was speaking to newsmen after
      Bernama  -  202 words
    • Article
      Warrants: premiums and gearing
      976 3 Prices (as at 25.4.91) Convwsion terms (d'scSunt) Amount T~ T Optional" using Company issued Wrts Share Lnstk Exer t "Gearing 4 n (munits) Conw (*<«• Cash Cash 1 Lnstk 2 Date Mths ratio value < C&CWl 37.5 2.610 5.700 1 00 3 09 0 2 18
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    • Article
      Shangri-La suffers paper losses of $15m
      311 3  -  By Lee Han Shih THE Gulf crisis slashed more than Sis million in value oft" Shangri-La Hotel l.td's investments at the end of last year, but this was not disclosed until the company released its 1990 annual report earlier this week. The report showed
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    • Article
      Sing Investments posts 26pc drop in after-tax profits
      241 3 SING Investments Finance has reported a 25.7 per cent drop in group after-tax profits to $3.61 million for its operation last year, down from its record $4.87 million in 1989. In a statement yesterday. Sing Investments directors also proposed a first and
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    • COMPANY BRIEFS
      • Article
        Petaling Garden posts 91 pc jump in profit
        97 3 PROPERTY-BASED Petaling Garden Bhd reported that group pre-tax profit for 1990 rose 91 per cent to M 520.82 million from MS 10.92 million in 1989. Group operating revenue increased 28 per cent to M 587.26 million from M 568.39 million previously. At
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      • Article
        Wepco appoints new directors
        31 3 WEPCO LIMITED announced that Dr Koh Lam Son and Mr Wee Koon San have been appointed additional directors of the company with effect from April 24, 1991.
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      • Article
        JPL Corp changes activities
        35 3 JURONG SHIPYARD announced that on Jan 10, 1991, its subsidiary. JPL Corporation Pte Ltd, changed its activities from those of investment holding and hire of equipment to an investment holding company.
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      • Article
        OCBC's foreign shareholdings
        66 3 OVERSEA-CHINESE BANKING CORPORATION has announced that as at April 23, 1991, the percentage of foreign shareholdings in the bank's issued share capital (including those whose status are being clarified) is 40 per cent. The percentage of foreign holdings in the bank's warrants 94 is 27 per cent
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      • Article
        Change in directors' holdings
        232 3 CHUAN HUP HOLDINGS disclosed to the SES that one of its directors, Mr Lim Swee Siah, sold 72,250 Chuan Hup TSR 1994 at an average price of 54 cents on April 24, 1991. MR CHOO CHIAU BENG, managing director of Far East Levingston Shipbuilding Ltd, informed
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      346 3 EXPAND YOUR I BOUNDARY l~ YES! Expand your market boundary by being at j i/av Techno-Soviet'9l where you can have direct business links h| with Soviet industries j Soviet Science and Engineering Science standards i j N A rank highly in the world where a third of the World's scientific
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  • REGIONAL / INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Air France loses $215 m and blames Gulf crisis
        106 4 AIR FRANCE blamed the Gulf crisis for a net loss of 717.2 million French francs (*****.2 million) last year after a net profit of 841.2 million French francs in 1989, and warned of hard times ahead. "It (the Gulf crisis) was
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      • Article
        UAL posts US$ 157m loss
        72 4 UAL Corp, the parent company of rapidly-expanding United Airlines, said it lost US$l57 million (***** million) in the first quarter of the year. The US airline, which recently added many of Pan Am's trans-Atlantic routes to its range of Pacific destinations, blamed its dismal figures
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      • Article
        Skanska profits rise 17 pc
        80 4 SWEDISH construction firm Skanska AB said profits before extraordinary items rose 17 per cent to 2.37 billion crowns (550.68 billion) in 1990 from 2.03 billion crowns in 1989. Turnover climbed 25 per cent to 37.22 billion crowns from 29.81 billion crowns previously. It proposed a
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      • Article
        Siam Cement net income slips
        73 4 SIAM Cement Co Ltd, announcing unaudited results for the first quarter said that net income after taxation slipped 5.6 percent to 981.5 million baht (*****.1 million) from 1.04 billion baht, in 1989. Sales of the Thai construction materials company, however, rose 20 per cent to
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      • Article
        Big jump in Rokok net profit
        79 4 PT PERUSAHAAN ROKOK Tjap Gudang Garam Kediri, Indonesia's biggest cigarette producer, posted a huge jump in net profit. Unaudited results of the company which went public last year showed that net income in the year ended 1990 soared to 176.81 billion rupiah (S$ 159.1
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      • Article
        Puma expects to bounce back
        152 4 SPORTS goods maker Puma AG Rudolf Dassler Sport of Germany said it expects to make a profit of more than 10 million marks (S$ 10.17 million) in 1991 after an unexpectedly poor 1990. Management board chairman Hans Woitschaetzke said that first-quarter results for 1991 a
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      • Article
        Mitsukoshi forecasts big profit
        84 4 MITSUKOSHI LTD of Japan forecasts a parent net profit of 8.55 billion yen (S$ 109.4 million) in the current year ending Feb 29, 1992, up from 8.18 billion yen last year, a company statement said. The Japanese department store also forecasts current profit of 19.40 billion
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    • Article
      European defence companies on acquisition trail
      488 4  -  By Harish Mehta TAKEOVERS in the Western defence industry are on the rise, and this is leading to a decline in the number of small and medium defence companies. To remain competitive on an international level, European defence contractors are trying to increase their
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    • Article
      PT Inco posts lower Ist qtr net earnings
      288 4  -  By Shoeb Kagda PT INTERNATIONAL Nickel Indonesia (PT Inco), the subsidiary of Canadianbased Inco Ltd, yesterday announced net earnings of US$9.6 million (Ssl7 million) for the first quarter of 1991. This is much lower than the US$lB million the company made in
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    • Article
      Lock icon Xerox nets higher first quarter operating net profit
      174 4 Reuter XEROX Corp, reporting higher first quarter operating net profit, said income in its core document-processing business was unchanged from a year earlier despite economic weakness in its major markets. Xerox said income of US$llO million (*****.7 million) from this business was
      Reuter  -  174 words
    • Article, Illustration
      Lock icon Occidental learns its China lesson the hard way
      690 4 NYT ARRANGING a US$l75 million (Ss3oB million) investment in a coal mine in China was hard enough. It took several handshakes with Mr Deng Xiaoping and other top Chinese leaders to get Beijing's agreement. But now, the Occidental Petroleum Corp has set
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    • Article
      Lock icon Profits up 71pc for Johnson & Johnson
      351 4 Profits up 71pc for Johnson Johnson NYT JOHNSON Johnson, the world's largest health-care-products company, said on Thursday that first-quarter profits jumped 71.3 per cent, to US$4lB million (Ss74l million), or $1.25 a share, from $244 million, or 73 cents a share, in the comparable period a year ago. The increase
      NYT  -  351 words
    • Article
      Lock icon Data General expects boost from sale of Tokyo unit
      226 4 Reuter DATA General Corp said it expects to report a US$l3 million (5522.1 million) gain in the third quarter ending in June from the sale of its Japanese subsidiary. The company reported the sale of Nippon Data General to Omron Corp.
      Reuter  -  226 words
    • Article
      Lock icon Stronger US$ and price cuts may lower Compaq profits
      250 4 Reuter COMPAQ Computer Corp, citing negative effects of a stronger US dollar and "extensive" price cuts, said "it is likely" its second quarter earnings will he below last year's USS 1.18 per share. The company said the price reductions, effective since
      Reuter  -  250 words
    • Article
      Lock icon HSBC arm posts net loss of US$72 m
      158 4 Reuter HSBC HOLDINGS Pic's wholly-owned Marine Midland Bank Inc posted a first quarter net loss of U5572.3 million (S$ 127.2 million), compared to net income of US$6 million in the same period a year earlier. Marine Midland attributed the loss in large
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  • FINANCIAL NEWS
    • Article
      Lloyds Bank trims regional activities
      333 5  -  By Magdalene Ng 1 111 LLOYDS Bank group is closing down its commercial banking and treasury activities in the region, including Singapore and Hongkong, in a hid to concentrate on more profitable ones like private banking. Lloyds Bank pic said in an announcement yesterday that
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    • Article
      Lock icon Prudential Securities reshuffles top management
      331 5 NYT THE TOP management of Prudential Seeurities was reorganised on Wednesday, with Hardwick Simmons, the former head of the retail operation of Shearson Lehman Brothers Inc, named president and chief executive. But surprisingly, Mr Simmons was not named chairman of the firm, a subsidiary of
      NYT  -  331 words
    • Article
      Lock icon China opening two of its exchanges to mutual funds
      293 5 FT CHINA intends to accelerate plans to allow foreign investment in its fledgling stock markets by opening its exchanges in Shanghai and Shenzhen to mutual funds later this year, according to a senior Chinese securities official. Mr Wang Ro-Ming, vicepresident of
      FT  -  293 words
    • Article
      Move to issue China Light and Power covered warrants
      252 5 CHINA Light and Power (CLP) is to join the growing list of blue chips with tradeable warrants covering its shares. According to the South China Morning Post, traders in Hongkong said on Wednesday that warrants would be issued on the Ra-doorie-eontrolled
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    • Article, Illustration
      Impressive rally by US$
      549 5 DBS Bank weekly currency review US$/I)M: Mark remains under pressure AS EXPECTED, the dollar staged an impressive rally last Friday to breach the March 28 high of 1.7220. It rallied further this week to a high of 1.7690 on Monday before intervention by European central banks
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    • Article
      Lock icon First Boston to revamp investment banking unit
      282 5 NYT THE I IRST Boston Corp told its employees in an internal memorandum on Thursday that it was reorganising its entire investment banking operation. The move will decrease its emphasis on mergers and acquisitions and put a greater focus on the capital markets
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    • SMALL CHANGE
      • Article
        Seoul's Exim Bank to issue Yankee bonds
        72 5 SOUTH KOREA'S state-run Korea Export-Import Bank signed a eontraet in New York for the issue of US$2(Xi million (***** million) of Yankee bonds for its fund reserves, hank officials said. I he Export-Import Bank, registered by the US Securities and Exchange Commission on
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      • Article
        US investigators raid 32 firms
        83 5 US SECURITIES investigators have raided the offices of 32 companies alleged to have used oil shortage fears aroused by the Gulf War to sell up to US$5O million (5588.5 million) worth of bogus oil and gas shares, a California state official said on Thursday. Ten
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      • Article
        First Pacific unit compensated
        93 5 EIRST PACIFIC Co ltd said its wholly-owned subsidiary First Pacific Holdings Ltd (FPH) has received £412,000 (SSI.2 million) in compensation for properties confiscated by China in the *****. FPH. formerly The Shanghai Land Investment Co Ltd, filed a claim for about US$2 million (553.54 million) with
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  • Page 5 Advertisements
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      630 5 %MW Singapore Press Holdings Limited (Incorporated in Singapore) ANNOUNCEMENT RESULTS FOR THE HALF YEAR ENDED 28TH FEBRUARY 1991 The Directors have pleasure In announcing the following unaudited results for the half year to 28th February 1991. GROUP COMPANY 1991 1990 1991 1990 1 Ss'ooo Ss'ooo Ss'ooo Ss'ooo Turnover 274.515 253,046
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  • THE REGION
    • NOTE BOOK
      • Article
        M'sia picks lan Greer to push Europe exports
        91 6 THE MALAYSIAN government has appointed the London eonsultant firm of lan Greer Assoeiates. to help promote Malaysia's exports to Europe. International Trade and Industry Minister Datuk Seri Rafidah Aziz said on Thursday the move was aimed at effective penetration of the European
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      • Article
        Manila hopes for US$ 750m
        77 6 PHILIPPINE Finance Minister Jesus Estanislao said Manila may soon arrange US$75O million (Ssl.3 billion) in new foreign financing, combining government and commercial debt. Mr Estanislao said agreement is near on a co-financing deal which would provide US$25O million in funds from the ADB, coupled with
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      • Article
        Martial law to end in May
        75 6 PRIME MINISTER Anand Panyarachun of Thailand promised on Thursday to lift martial law in the first week of May and to resign if democratic elections are not held on schedule. The Prime Minister, a veteran diplomat and businessman appointed by the military coup leaders
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      • Article
        16m yen in aid for Burma
        55 6 THE JAPANESE government said on Thursday it would provide medicines, blankets and other relief goods worth 16 million yen (*****,000) to Burma, after a devastating fire there. The fire swept the central Burmese city of Mciktila on April 7, killing nearly 30 people and
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    • Article, Illustration
      Lock icon Thailand likely to be on US trade sanctions hit list
      354 6 Talks between the two countries break down AFP THAILAND is now almost certain to be included on the United States hit list for trade sanctions, following the breakdown of trade talks between them in Rotterdam on Wednesday. The Thai Prime
      AFP  -  354 words
    • Article
      Lock icon Key sectors of Indon economy still protected
      313 6 AP KEY SECTORS of the Indonesian economy remain shielded from foreign competition despite government moves toward trade liberalisation. according to the world's main trade forum. A report released yesterday by the General Agreement on Tariffs and Trade (Gait) said trade reforms had been
      AP  -  313 words
    • Article
      Lock icon US plans small aid package for Vietnam
      227 6 NYT THE BUSH Administration said on Thursday that it would provide financial assistance to Hanoi for the first time since the Vietnam War, approving a small but symbolically significant aid package for Vietnamese disabled during the fighting. The announcement that US$l million (S$
      NYT  -  227 words
    • Article
      Lock icon Textile industry could earn M$ 10b by '95
      245 6 NST THE TEXTILES and garment industry could bring in foreign exchange earnings of close to MSIO billion by 1995. Deputy Minister of International Trade and Industry, Mr Chua Jui Meng said the projection, based on estimates of the Malaysian Textile Manufacturers Association
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    • Article
      Cambodia seeking alternative sources of investment
      410 6 CAMBODIA, caught in the crunch between evaporating aid from the former communist block and continued isolation from the West, is desperately seeking alternative sources of finance, reported The Japan Economic Journal. But the ruling People's Revolutionary Party of Kampuchea (PRPK) is also conducting a
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      214 6 BANKING, FINANCE AND INSURANCE 1991 A Business Times Special Supplement The theme for this year's supplement is "Focus: Asia", reflecting the growing economic and financial muscle of Asia as well as its importance as one of the world's fastest growing markets. Target date for publication is May 30. Among the
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  • THE WORLD
    • Article
      IMF lowers growth forecasts for Asia's 'four tigers'
      557 7  -  Annual spring meetings of the IMF and World Bank From Neel Patri in WASHINGTON HIGHER energy costs and falling export demand have taken their toll on Asia's newly-industrialised economies and the International Monetary Fund says the economic growth of Singapore, Hongkong, Korea
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    • Article
      Lock icon Foreign portfolio investment in US seen rising
      384 7 Reuter FOREIGN INVESTMENT in US stocks and bonds will rise moderately this year from 1990's dismal performance, helped by the firmer greenback and an anticipated US economic rebound. "Predicting investment flows is sort of like nailing jello to the wa11... I think there
      Reuter  -  384 words
    • Article
      Lock icon Warning against hasty lowering of interest rates
      187 7 AFP A SPEEDY CUT of interest rates by the major industrial countries could be counterproductive, the head of the IMF warned on Thursday. IMF managing director Michel Camdessus, addressing journalists in Washington for the annual spring meetings of the IMF and World Bank,
      AFP  -  187 words
    • Article, Illustration
      Lock icon Up to half of Iraq's oil earnings may go to compensation fund
      344 7 Reuter IRAQ may be forced to pay as much as half its future oil profits as compensation to victims of its invasion of Kuwait and the consequent Gull War. according to a senior US official. I he Bush
      Reuter  -  344 words
    • Article
      Lock icon China spending US$ 106b to rejuvenate state-run industries
      313 7 AFP CHINA will invest a record U*****.7 billion <S$ 1X7.6 billion) over the next five years to modernise state-run industries, a senior official of the State Planning Commission said. I he official English-lan-guage China Daily quoted Mr Slieng Shuren, the commission's deputy
      AFP  -  313 words
    • Article
      Lock icon Friend and foe attack Major on economic policy
      346 7 Reuter IMF British government took a battering from all sides on Thursday for its handling of the economy. Politicians, business leaders and the International Monetary Fund warned that the current recession would last longer than the government was forecasting. British Prime Minister
      Reuter  -  346 words
    • WORLD WATCH
      • Article
        First Chinese leader in Moscow since Mao
        89 7 ('IIINA's (icncral Secretary Jiang Zemin will tour the Soviet Union from May 15 to May 19 in the first Moscow visit by a Chinese party leader since Mao Zedong's last pilgrimage then' 34 years ago. Mr Jiang's v isit to Moscow is expeeted
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      • Article
        Tourists help cut trade surplus
        75 7 THE CAMERA-TOUTINCi. free-spending Japanese tourist helped reduce Japan's trade surplus in 1990 to the tune ol US$2l.3 billion (about 5537.3 billion). The "tourism deficit", or amount Japanese tourists spent overseas above what foreign tourists spent in Japan, stixxl at US$2l.3 billion in 1990. the worst
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      • Article
        Growth for 53rd straight month
        66 7 JAPAN'S economy grew for the 53rd straight month in April but growth was slowing, an official at the Economic Planning Agency said. The otficial. during a briefing on the agency's monthly report to economic ministers, said the current growth period began in December 1986. and
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      • Article
        Czechs qualify for GSP
        50 7 PRESIDENT GEORGE BUSH on Thursday notified Congress that Czechoslovakia qualified for (ieneralised System ot Preferences status that allowed it to send some exports to the IJS tax free. The GSP is aimed at helping developing countries that America deems have taken steps to respect workers' rights.
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      • Article
        Higher Gulf War cost
        59 7 AMERICAN COST of the Gulf War may reach USSIOO billion and contributions from allies will cover only about halt of that. Previous war cost estimates have run as high as US$7O.5 billion, but US Comptroller General Charles Bowsher told the Senate Armed Services Committee he believed
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      • Article
        Senate passes budget
        64 7 THE AMERICAN SENATE on Thursday passed a US$l.46 trillion fiscal 1992 budget after three days of debate during which it turned down a move to cut Social Security taxes and rejected a host of other minor changes. In the end, the budget was so non-controversial that it
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      • Article
        Integration within franc zone
        65 7 FINANCE MINISTERS from 14 African countries and France meeting in Ouagadougou called on Ihursday for regional economic integration within the franc /one leading to the creation of a single market. An official communique released late-I hursday said the finance ministers "agreed that it was henceforth necessary
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      • Article
        Chinese shopping trip to EC
        53 7 CHINA will send buying missions to European Community countries over the next two months on an unprecedented shopping spree. Purchasing groups organised by 12 major foreign trade companies and 13 provinces and municipalities will carry shopping lists of products ranging from high-tech-nology equipment to machinery
        53 words
      • Article
        Seoul, Moscow plan gas project
        68 7 SOUTH KORE and the Soviet Union plan to launch within this year a multi-billion dollar joint project to tap natural gas on the Soviet island of Sakhalin. South Korean President Roh Tae-woo and Soviet President Mikhail Gorbachev agreed to jointly exploit natural gas on the
        68 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      10 7 FS. Germany likely to elash over interest rates, Pg M
      10 words
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      Page 7 Advertisements Column 2
      140 7 OF SAN FRANCISCO (Level 5) 7 v v An exotic setting. A casual touch. A family weekend meal that offers so much. Weekend guests at Trader Vic's are in for a culinary treat at tastefully-ntodest prices: Choose any delectable main dish. pick an appetizer/soup and a sensational dessert trom our
      140 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Sectorial interest drives market higher
      5303 8  -  By Shoeb Kagda SECTORIAL interest in Singaporelisted eounters kept the stoek market bullish tor the third day running. The Straits Times Industrials Index moved up 4.47 points to elose at 1,558.41. eruising past the Aug 1, 1990 mark ot 1.557.76. Market watehers said investor interest
      5,303 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4606 9 Main Board Jacks Int 200 >1 <4 2% SIM I I urcign 1270 (40 (KBC I im'itn USD t 4(1 H>% Asia Pacific lilt) <<» KAN 155 f 20 2 1% Spore Busl MK> 7>)S t 20 t 2 6% 4 >(: I- ?XO t
    4,606 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market closes firmer on bargain-hunting
      4365 10 Reuter MBT SHARE PRICES in Kuala I umpur closed slightly higher on late bargain hunting yesterday. prompted by a firmer closing in Tokyo. Sentiment was uncertain for most part of the da> as a 28-point drop on Wall Street overnight discouraged investors from taking up
      Reuter; MBT  -  4,365 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      378 10 NOTICE IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF INSING SUPPLY PTE LTD (In Voluntary Liquidation) MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the abovenamed Company deemed to be held on 26 April 1991, the following Special Resolutions were passed pursuant to
      378 words
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      Page 10 Advertisements Column 2
      91 10 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
      91 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nikkei closes firmer on index-linked buying
      2338 11 Reuter TOKYO stocks closed firmer after sluggish trade yesterday. Index-linked buying by investment trusts and arbitrageurs and position-clearing selling before Japan's Ciolden Week series of holidays kept the Nikkei Average at or just above a psychological support line at 26.(KM) all day, brokers said.
      Reuter  -  2,338 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Cheung Kong warrants give shares a strong boost
      2257 11 Reuter SHARE PRICES in Hongkong ended higher in active trade, mostly on the strength of Cheung Kong covered warrants, which began trading yesterday. "When people saw the warrants were looking firm, they thought the market was not doing that badly," said a
      Reuter  -  2,257 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      26 11 Innovation Technology in BT on Tuesday Read kM Chartpoint, ;4Mz&Sti ffm a guide to investing h>; the stock Market. Every 'SpMt Saturday iufc; Business J Times
      26 words
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  • REGIONAL STOCK MARKETS
    • Aussie stocks surge on overseas buying
      • Article
        AUSTRALIA
        831 12 AUSTRALIAN stocks closed sharply higher yesterday following strong support from US investors amid expectations that next month's March quarter CPI data will show a sharp fall in the annual inflation rate. "Overseas buying is pushing the market to new levels," JB Were broker Graeme Linton said. The All Ordinaries
        831 words
      • Article
        BANGKOK
        932 12 BANGKOK share prices finished lower in moderate trading yesterday, with the Securities Exchange of Thailand Index dropping 11.09 points to close at 872.51. "The stock market tumbled down further as it lacked good supporting factors," said a broker from Mithai Europartners Finance and Securities Co. Ltd. The broker said
        932 words
      • Article
        JAKARTA
        645 12 THE JAKARTA share market's weeklong bull run came to an end yesterday, but some brokers were still bullish for the short term. "We're quite positive. Interest rates are drifting lower and some local investors are coming back. Also there's some regional consolidation and funds from other markets are bound
        645 words
      • Article
        TAIPEI
        427 12 TAIWAN share prices yesterday wavered in narrow trading and finished mixed. Investors remained cautious as the index approached 6.000 points, brokers said. The Weighted Index rose 27.33 points to close at 5.941.15 from Thursday's 5.913.82 finish. Turnover fell to NTS6O.I billion from NTS6B.9 billion on Thursday. Dealers said early
        427 words
      • Article
        MANILA
        511 12 PHILIPPINE shares vesterdav finished lower but oft" the day's lows as late bargain-hunting checked a potential further slide linked to Wall Street. The Manila Stock Exchange Composite Index eased 4.75 points to settle at 1.048.18. Analysts saw the trend as the market's attempt to stage a rebound from weeks
        511 words
      • Article
        SEOUL
        780 12 SEOUL stocks yesterday jumped on ex- pectation that tight won liquidity would be eased from next week. The Composite Stock Index closed the day at 634.29. up 7.93 points from Thursday. Turnover was moderate at 129.4 billion won against 94.9 billion on Thursday. Gainers outscored losers 473 to 131
        780 words
      • Article
        NEW ZEALAND
        72 12 NEW ZEALAND shares, underpinned by soft domestic interest rates, shrugged off Wall Street's 28-point fall to end higher on healthy turnover yesterday. The Barclays Index rose 9.75 points to 1.482.96. Total turnover was 13.49 million shares, worth NZ523.46 million. "It looks pretty much like we are following our
        72 words
      • Article
        BOMBAY
        71 12 BOMBAY share prices rebounded strongly on Thursday in anticipation of a bull run at the start of the new account from yesterday. "It was a technical rally aided by the proximity of company results," broker Ramnik Parikh said. Starting next week, companies will announce their figures for the year
        71 words
      • Article
        Untitled
        184 12 Wellington \pr 26 NZ eats VoH"00> \ir NZ 170 tl 2648 \NZ Banking 500 *15 156 Bank Of NZ 66 unch 1918 Bavcorp 8 4- I 900 Bricrlv Inv 109 I ***** t arter Moll 173 unch ***** Cavalier 177 4-2 65 Ceramet) It8 I 225 Cityrealties 24 unch 70
        184 words
      • Article
        MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        405 12 In local currency In S$ In 1 IS$ S day >ear S day S year da> >ear \pr 25 Index change change change change change change Work! 4100 -0 5 14 5 -0.5 11.9 -09 9.4 |EAFE 536.7 -06 14.2 -06 8 8 -0.9 6.4
        405 words
      • Article
        INDICES & TURNOVER
        104 12 INDICES TURNOVER Cknc Previous \pril 26 SYDNEY All Ordinaries Index 1,537 X 1.518 3 19 5 All Industrials Index 2.394.6 2.364 1 30.5 All Resources Index 884 2 8730 112 Turnover (million) 187(1 184 06 f 2 94 BANGKOK SKT Index 872.51 883 60 -11.09 Turnover (million baht) 3.70tl 4.690
        104 words
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  • WORLD STOCK MARKETS
    • Dow falls sharply after erratic session
      • Article, Illustration
        NEW YORK
        1300 13 WALL STREET closed a choppy session on Thursday with sharp losses, as investors struggled to find a focus amid a morass of uncertainties o.i the economy and corporate earnings. Compaq Computer delivered a nasty blow early in the session when it reported disappointing first quarter results and warned
        1,300 words
      • Article, Illustration
        LONDON
        945 13 LONDON shares firmed after opening fractionally weaker yesterday, thanks to an early rise on the June FTSE futures contract. "The market looked tired and was going no-where but the stronger futures helped the market perk up," said one trader. At 0745 GMT the June future showed a seven point
        945 words
      • Article
        AMSTERDAM
        278 13 AFTER nudging slightly down at the opening yesterday. Dutch shares quickly showed a firmer bias to trade narrowly mixed in a very thin and essentially directionless market. "Investors lost their sense of direction and are standing massed on the sidelines," one dealer noted. By 0850 GMT the CBS Tendency
        278 words
      • Article
        Untitled
        212 13 Brussels Apr 25 Francs FORWARD MARKET Accc 2735 30 Arbcd 4160 +110 Aslur 1136 Brascan 610 +18 anpac 630 609 Cock 168 unch IX- Been 832 2 F.hes 8670 (ib-lnno-Bm 1328 2 Cicvaert 74<X) 30 (ir Bru Lamb 3850 40 Hobok Pctro ***** f 50 Kyi Dutch 2915 I 40
        212 words
      • Article
        FRANKFURT
        217 13 GERMAN shares rose 0.6 per cent at a fairly busy opening yesterday, boosted by buying from both foreign investors and domestic investment funds. Dealers said the index now looked set for a near-term rally up to around 1,680 or 1,700 on the 30-share DAX Index, buoyed by the extra
        217 words
      • Article
        PARIS
        336 13 IN PARIS, tyre maker Michelin surged and accounted for a hefty share of early volume on an otherwise quiet bourse yesterday. Michelin opened up 1.90 francs at 86, then climbed to 88.05 on 126,350 shares. Dealers said interest was widespread in the issue but could identify no particular reason
        336 words
      • Article
        JOHANNESBURG
        387 13 IN JOHANNESBURG, industrials were holding on firmly to the recent gains yesterday morning, helped by continued local and foreign support tor quality shares and by a weak financial rand. At 10:15 the JSF Industrial Index, after setting a record high close of 3.549 on Thursday, had edged up a
        387 words
      • Article
        ZURICH
        274 13 SWISS shares yesterday opened little changed with a lower bias as Wall Street's overnight losses depressed market sentiment, dealers said. But Frankfurt's slightly firmer showing in pre-bourse trade limited losses. The SMI Index of leading shares edged down 0.9 points to 1,661.8 and the all-share SPI Index cased 1.6
        274 words
      • Article
        TORONTO
        315 13 GAINS in selected shares kept Toronto stocks flat on Thursday after disappointment over the US Federal Reserve's monetary policy sank the broad market, dealers said. Gold shares also took a beating from weaker Comex gold futures. The Composite Index closed down 2.1 to 3.502.0. with transactions valued at C
        315 words
      • Article
        STOCKHOLM
        92 13 STOCKHOLM shares weakened in cautious early trade yesterday following Wall Street's declines and ahead of the release of US Gross National Product deflator, dealers said. By mid-morning, the General Index had shed 0.49 per cent to 1,048.20 in turnover of 88 million crowns. Blue chips were 0.19 per cent
        92 words
      • Article
        INDICES & TURNOVER
        102 13 INDICES TURNOVER NEW YORK (low Previous April 25 Dow Jones NYSE Financial S& P 500 Turnover (million) 2.921 04 2.949.51 152 83 154 03 379.25 382 76 166 94 166 8 -2847 -1 20 -3 51 fO 14 LONDON Financial Times 30 FrSF. 100 Turnover (million) 1.943 9 2.482.1 462.6
        102 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      51 13 You may have been unable to get your Business Times, Straits Times, Sunday Times, LianHe Zaoßao and other daily newspapers from your usual newsstand because of the higher demand lately. To ensure a daily copy, call Customer Services Section on 740-1839 or 740-1840, and ask for home or office delivery
      51 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Lock icon Tokyo market at a standstill ahead of G-7 talks
      1179 14 REPORTS Agencies ASIA Tokyo: THE DOLLAR yesterday closed barely changed against the yen and easier against the mark after extremely quiet, narrow trading, dealers said. Participants were mostly sidelined ahead of Japan's Golden Week holidays and the weekend Group of Seven
      Agencies  -  1,179 words
    • Article
      INTERBANK FOREX RATES
      432 14 Crass rates Apr26 1 IJSS S$ MS Dm Yen SKr A$ N/$ |JS$ 1.7755 2 7580 1.7460 137.85 0 5900 1 4650 1.2850 1 7050 SS 0 5632 1.5534 ***** 0 7764 0.3323 0.8251 0.7237 0.9603 MS 0.3626 64 38 ***** ***** 0.2139 0.5312 0.4659 ***** Dm
      432 words
    • Article
      MONEY MARKET
      582 14 Interbank rates S$ Hid Offer Overnight 5 3/4 5 7/8 1-month 4 11/16 4 15/16 2-month 4 13/16 4 15/16 3-month 4 7/8 5 Overnight mode: 4-7/8 l»S$ Kid Offer 7 days 6 1/16 6 VI6 1 month 6 6 1/8 2 months 6 6 1/8 3 months
      582 words
    • Article
      Lock icon US and Germany likely to clash over interest rates
      265 14 FT THE US administration is still pressing for lower world interest rates, making a clash with Germany a near-certain-ty at tomorrow's meeting of finance ministers and central bank governors from the Ciroup of Seven leading industrial nations. President George Bush said
      FT  -  265 words
    • Article
      Lock icon UK rates unlikely to go below 11 pc
      140 14 AFP BRITAIN's membership of the European exchange rate mechanism (EKM) and its inflation and balance of payments problems will make it difficult to push interest rates below 11 per cent. Sharply falling inflation will allow the government room to shave an extra
      AFP  -  140 words
    • Article
      Lock icon Germany won't ease monetary policy now
      172 14 AFP THE Bundesbank will ease its monetary policy when Germany's public deficit has been reduced, the central bank said in its annual report released on Thursday. It said that prospects for an improvement were good. The public deficit for unified Germany is expected to
      AFP  -  172 words
    • Article
      FINANCIAL FUTURES
      1092 14 SIMEX EUMOOUJUt Open High Low Sett Est Vol Op/lnt Vol Jun 91 93.73 93 74 93.73 93.73 2900 ***** 4273 Sep 91 93.45 93.46 9344 9346 3900 9304 5859 Dec 91 92.99 9300 92.97 9299 1800 ***** 2539 Mar 92 92.70 92.70 92.69 92.71 800 5153 392 Jun
      1,092 words
  • Page 14 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Freeport (Indon) gets another 30-year copper concession
      407 15 Reuter A NF.W CONTRACT between Freeport-MeMoran Inc's Indonesian affiliate and the Jakarta government is cxpcetcd to be signed by the middle of this year and will inelude additional mining areas, a senior Indonesian mining official said. Director Cicncral of Mining, Mr Kosim Gandataruna,
      Reuter  -  407 words
    • Article
      Lock icon World diamond market still under shadow of Gulf War
      244 15 Reuter THE Gulf War, which ended two months ago, is still casting a shadow over the international diamond market, the world's top producer, De Beers Consolidated Mines Ltd, said on Thursday in its annual report. Chairman Julian Ogilvic Thompson said the
      Reuter  -  244 words
    • Article
      Tin price jumps 30 sen more to five-month high
      838 15 REPORTS THE PRICE of tin yesterday jumped another 30 sen to a five month-high of M$ 15.75 per kg on short-covering activity on the Kuala Lumpur Tin Market. Dealers said there was strong demand for tin in the market and yesterday's
      838 words
  • Article
    PRICES
    1575 15 Rubber Apr 26 MS (fob in balm) S cents/kg Noon Close Int 1 RSS Promt* 143 00/I44.00N 143 00/144 00N Int 1 RSS May 91 145 50/146 50 145 50/146 50 Int 1 RSS Jun 147.00/147 50 147.25/147.75 Int 2 RSS OP 142.25/144 25N 142 50/144 50N Int 3
    1,575 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      657 15 BUSINESS TIMES TELEPHONE: 730-5771/5772/5773 FAX: 734-4982 IN THE MATTER OF THE COMPANIES ACT. CHAPTER 50 HOCK ANN HOLDINGS PTE LTD (Incorporated In Singapore) At an Extraordinary General Meeting of the members of (he abovenamed Company duly convened and held at 4 Battery Road #12-00 Bank of China Building, Singapore 0104
      657 words
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      Page 15 Advertisements Column 2
      677 15 TIIK COMPANIES \(T (CAP. i») COMSPAKKS TKAIMNG PTK LTD (MKMHKK.S' VOLI NTAKY HIMIIV; IIP) At an Kxtruordinary General Meeting of the Members of COMSPAKKS TRADING PTK LTD duly convened and held at 585 North Koad 11-07 Blanco Court Singapore 0718 on the 17 April l'J9l the followliiK special resolution was
      677 words
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      Page 15 Advertisements Column 3
      11 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page
      11 words
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  • Article, Illustration
    Media must feed the Singaporean core
    489 16  -  BG Yeo urges media to help build information network By S N Vasuki AS SINGAPORE internationalises, its media, both domestic and foreign, will be needed to build the information infrastructure, Brig-Gen (Res) George Yeo, Acting Minister for Information and the Art and Senior Minister
    489 words
  • Article
    Lock icon US GNP shrinks for the second consecutive quarter
    339 16 Reuter THE American economy shrank at a 2.8 per cent annual rate in the first three months of 1991 as recessionary weakness penetrated nearly every sector of business activity, the government said yesterday. The first-quarter contraction of gross national product the country's
    Reuter  -  339 words
  • Article
    Lock icon China expresses interest in joining Apec
    105 16 AFP CHINA wants to join the Asia-Pacific Economic Cooperation (Apcc) and will not object to the inclusion of Hongkong and Taiwan as long as they are considered only as regional economies, Chinese Assistant Foreign Minister Xu Dunxin said in Manila yesterday. Apec composed of
    AFP  -  105 words
  • Article, Illustration
    Gorbachev and Yeltsin to work out consensus
    351 16 SOVIET President Mikhail Gorbachev and rival Boris Yeltsin tried to patch together a consensus on Friday behind their new-found partnership in the face of labour unrest and political opposition. Mr Gorbachev was due to report to the Soviet parliament on his recent trip
    351 words
  • Article
    Govt intervention in the past necessary: BG Yeo
    258 16 GOVERNMENT intervention in even aspect of Singapore society in the past was necessar} for the development of the countrv, said BG Yeo, the Acting Minister of Information and the Arts and Senior Minister of State for Foreign Affairs, in a lively question-answer
    258 words
  • Article, Illustration
    Lock icon Getting the message a-cross
    38 16 Reuter picture Greenpeace activist carrying several of 3,000 wooden crosses to be set up in front of a So»iet-built nuclear power plant in Bohunice, Czechoslovakia, on Thursday to commemorate the Chernobyl disaster. Reuter picture
    Reuter picture  -  38 words
  • Article
    Lock icon IBM to supply mainframes to Mitsubishi Electric
    552 16 Deal is part of Big Blue's emerging strategy Reuter I INTERNATIONAL Business Machines Corp is forming a partnership in its core main- frame computer business with Mitsubishi Electric Corp. the latest sign of globalisation in the computer in- dustry. IBM Japan Ltd, a
    Reuter  -  552 words
  • Article, Illustration
    Good response to Trengganu trade mission
    366 16  -  By David Chew THE TRADE mission from the Malaysian state of Trengganu has achieved its aim of securing MSIOO million (5564.2 million) worth of investments during its threeday visit to Singapore. The investments, to be undertaken by six Singaporean companies, are in wooden furniture,
    366 words
  • Article
    Lock icon Split decision on ADB loans to China
    258 16 AFP DONORS and borrowers of the Asian Development Bank (ADB) expressed widespread support in Vancouver on Thursday for a capital increase to boost its lending capacity, but were split over whether to resume loans to China. Japan, India and Southeast Asian nations called
    AFP  -  258 words
  • Article
    Lock icon HK to give banking commission more power
    149 16 Reuter HONGKONG has drafted a new law which would give the colony's Banking Commission the power to keep people deemed not fit from controlling authorised banks. "It is only after an owner has acquired an interest in an institution that he is formally
    Reuter  -  149 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon Bellamy's battle
      1432 17  -  To Professor David Bellamy, the world is his workshop, and saving it is his mission. Nirmal Ghosh finds out why. Nirmal Ghosh PROFESSOR David Bellamy is a big bear of a man. At 57. he is more energetic than most people halt" his age (owing to black coffee,
      Photo of Prof Bellamy by Nirmal Ghosh  -  1,432 words
    • STRAWS IN THE WIND
      • Article
        Not purposely one
        51 17 THE weekend car scheme has made some people see red, literally. One such car with red and white plates had made its way to Johor and was parked along a busy street when its driver overheard a passerby saying: "Wah. everywhere go also must have Singapore flag
        51 words
      • Article
        Green Mitz
        62 17 LAST week, during a Con-tact-Y episode on the environment, SBC aired an advertisement by HongkongBank, which said that it did not print its ad in a newspaper because of its concern for the environment. Big deal. The amount of power used by millions of TV sets in Singapore
        62 words
      • Article
        Nuts
        47 17 AT the screening of the French movie Cyrano Bergerac, one moviegoer observed that the Mandarin subtitles were generally quite good, except for the part where the damsel said "I am mad about him" in the English subtitles. The Mandarin version said "I am angry about him."
        47 words
      • Article
        Come back to earth!
        69 17 HEAVEN and hell, from a man's point of view: Heaven is having a Japanese wife, living in an English house, eating Chinese food and drawing an American salary. Hell is an American wife, a Japanese home, British food and a Chinese salary. Do you have a
        69 words
    • OPINIONS
      • Article
        A man's salary has nothing to do with his wife's
        808 18  -  Andrea Borch makes an appeal to employers to change their attitudes to hiring the wives ol expatriates Andrea Borch Andrea Borch is a BT journalist A FRIEND had a job interview recently that opened her eyes to some local hiring
        808 words
      • Article, Illustration
        Let our young enjoy youth
        866 18  -  Soh Tiang Keng discusses the wear and tear of student life Soh Tiang Keng Soli iiany; Kent; is a Hl' journalist SINGAPORE IS wearing out its children. Psychologists even have a name for the stress load on youngsters who arc forced to battle for excellence
        866 words
      • Article
        Lock icon A victim of its own success
        721 18  -  More and more countries want to join the European Community. But the 12-nation community is unsure if it wants to have more members, says Giles Merritt Giles Merritt FT THE LINE to join the European Community stretches around the block. Within a few years
        FT  -  721 words
      • Article
        Forex dealing: a serious business
        306 18  -  Clemente Escano and 59 other FX dealers THE FRONT page article in Executive Lifestyle about Forex Dealing (Weekend Edition, April 20-21) sought to portray a glamorous image of foreign exchange dealers and claiming this as typical. Foreign exchange dealing is in fact a profession and
        306 words
      • Article, Illustration
        Image of Hitler already withdrawn
        129 18  -  LETTERS TO THE EDITOR William Lau Ak/ent Marketing C ommunication A <& P Manager, Rascals WE REFER to the article "Party time for Rascals" (BT, Apr 6-7). One sentence in the article stated that "famous rascals form the themes for its (Rascals) decor and parties
        129 words
      • Article
        A point or two about Free Verse
        124 18  -  Sher Min Gaspar Project Secretary Free Verse, Performance Poetry at The Substation WE WOULD like to express our appreciation for the very spirited article of April 19 on Free Verse, Performance Poetry at The Substation. May wc, however, clarify two points: The Poetry
        124 words
      • Article
        Suntec City yet to decide on policy
        94 18  -  Veronica Chee Public Relations Manager Suntec City IX'vclopment l*tc Ltd WF RHFF.R to your articic 'Many commercial buildings on the market hut few buyers" (Weekend Edition, April 13-14). In that article, it is mentioned that parts of Suntec City have been "quietly placed
        94 words
      • Article
        Power failures localised
        149 18  -  Sheu Ay Shin Manager, Building Services S L Development Pte I.td WE REFER to your article "Financial houses warm up to the idea of escape from the city" (BT. April 15). As the building owner, we are concerned about the reported incident of power failures in Shell
        149 words
    • SPORTS
      • Article, Illustration
        Stoltenberg beats Woodbridge to enter semifinals
        632 19  -  Nirmal Ghosh reports on the Epson tennis tournament Nirmal Ghosh SEEDS have been falling as regularly as the rain for the last few days at the Epson tournament at the Kallang Tennis Centre. The only ones in the last eight yesterday morning were the
        632 words
      • SIDE LINES
        • Article
          Becker: Why I am still in the running
          147 19 BORIS BECKER is the last of the top four seeds still in the Monte Carlo Open and he knows why. "It just shows how close the game of tennis is now," Becker said. "On any day, anybody can come up and beat
          147 words
        • Article
          Rain halts Navratilova's game
          104 19 TOP SEED Martina Navratilova led Katia Piccolini of Italy 6-0. 3-0 on Thursday when rain halted their match in the WTA Scat Open women's tennis tournament. Third seed Manuela Malceva-Fragnierc and local favourites Arantxa Sanchez Vicario and Conchita Martinez, meanwhile, qualified for the quarterfinals of the
          104 words
        • Article
          Trevino wants to win again
          103 19 LEE TREVINO dominated the Senior PCiA tour last year and he wants a repeat performance in 1991. "I just want to have what I had last year," Trevino said. "That's what I'm shooting for, anyway. If I could win a couple of the biggies, and
          103 words
        • Article
          Wolcott in the lead
          94 19 808 WOLCOTT had his day in the sun at the Greater Greensboro Open on Thursday, but not before Mark O'Meara and Chris Perry nearly caught his shadow. Ihe soft-spoken Tcnnessean shot a 5-undcr-par 67 that stood up through the 48 groups that followed him for a
          94 words
      • Article, Illustration
        A tennis player chasing his dream
        745 19  -  Cassandra How reflects on the glory that was Bjorn Borg's Cassandra How WHEN Bjorn Borg quit the circuit eight years ago, he vowed that nothing would make him return. After all. he already had enough as the Number I player in the world six
        745 words
    • EPICURE
      • Article
        On a clear day
        642 20  -  Up on the 37th floor of the Pan Pacific, Quek Swee Peng wonders if" it is Malaysia or Indonesia in the distance as she scoops another spoonful of sharkfin's soup, loftily labelled Jewels in the Crown. Quek Swee Peng TUt Growth Triangle figured for a brief
        642 words
    • LIFESTYLE
      • Article, Illustration
        Lock icon Citroen's high-tech but down-to-earth model
        680 21  -  The recently unveiled ZX, which is the first in its class to have a form of rear wheel steering, is a certain contender for Europe's Car of the Year Contest, reports Stuart Marshall Stuart Marshall FT EUROPE'S Car ol the Year Contest will not be
        FT  -  680 words
      • Article, Illustration
        Guigal's rare wines are worth a king's ransom
        887 21  -  WINE By N K Yong IF JABOULET is the undisputed king of Hermitage in the Northern Rhone, Guigal is undoubtedly the king of Cote Rotie. The appellation of Cote Rotie, meaning "Roasted Slope", did not use to be as widely known as
        887 words
      • Article, Illustration
        When a cautious plan would have saved the way
        379 21  -  BRIDGE By Sybil Holloway IN TODAY'S play, the North/South pair did well to bid the 6H contract after North opened the bidding with INT. However, South, the declarer, was down one by not preparing for a bad trump break. West led
        379 words
    • PURSUITS 1
      • Article, Illustration
        Music at his fingertips
        604 22  -  CD Review By RINGO LIEW DANNY GATTON: 88 Elmira St The opening chords simply sweep the listener into the sort of bar where the house poison is Jack Daniel's, the fabric of choice is snake skin and every other guy with a tattoo of the Confederate
        604 words
      • Article, Illustration
        New kid on the block
        247 22  -  EMI brings in Impact, reports Samuel Ee Samuel Ee A RECORD COMPANY here is hoping that one of its newest labels will live up to its name and make a big impression on the market. EMI Singapore has started distributing Impact Records, formed just last
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      • Article, Illustration
        The devil and the deep dark sea
        617 22  -  Micky Allan is an artist obsessed with heaven and hell. Cassandra How discusses ideology with her. Cassandra How AT FIRST GLANCE, Australian artist Micky Allan's works seem like a manifestation of her innermost thoughts. An intense woman whose beliefs are steeped in the
        617 words
      • Article, Illustration
        Lock icon Silver glitters too
        559 22  -  The Perlinis are bent on starting a 'silver trend here. Jennifer Lien tells you why. Jennifer Lien Many people don't like silver because it's hard to maintain." says Ilis Giulia Perlini. It's a misconception she would like to rectify, with a swish of a "silver cloth", containing
        Photo by Christopher Loh  -  559 words
      • Article, Illustration
        Lock icon Friends of our wildlife
        516 23  -  To commemorate Earth Day on April 22, a Preserve Planet Earth Award was handed out to a nature society and a school teacher for their efforts to protect the environment here. Hong Lee Tiam finds out what they do for the love of nature Hong Lee
        Photo by Christopher Loh  -  516 words
      • Article, Illustration
        Starting our youth on a green footing
        372 23 MRS IVY LEE is one of those women who would tell you to clean off your plates because of all the starving children in the world. For the senior assistant of Fairfield Methodist Secondary School, wastefulness is as bad as wantonness, if not
        372 words
      • Article, Illustration
        The wonder that was Russia
        712 23  -  Salil Tripathi visits the Techno Soviet 91 exhibition and finds, tucked away at a corner, works of excellent Soviet craftsmanship Salil Tripathi Matreshka dolls emerge one from another like a circus act. An old man caned out of the bones of a mammoth sits reading
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    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Lock icon UE shares: fully valued or undervalued?
        852 24  -  STOCK United Engineers enjoys a high-asset hacking and its prospective earnings look good. Which makes one wonder why one of Malaysia's savviest stockmarket players sold most of his stake in the group recently. Magdalene Ng assesses the group. Magdalene Ng Analysts have been touting
        Picture by Arthur Lee; Source: Investamatic  -  852 words
      • Article, Illustration
        Lock icon The primary trend is still upwards
        250 24 CHART SINCE stock markets are influenced simultaneously by several cyclical rhythms, it will be helpful to reassess these cycles on the local market. The Straits Times Industrials Index (STII) chart shows three main trends in a market cycle which are short, intermediate and long-term
        Source: Research  -  250 words
      • DON'T QUOTE ME!
        • Article
          Luke-warm interest, hot questions
          223 24  -  Compiled by Lee Han Shih THERE were a few red faces and some awkward moments on Monday during the first Singapore/Taiwan business forum held in SMA House. About 30 Taiwanese turned up to explore what business they could do in Singapore and the Growth Triangle. Unfortunately
          223 words
        • Article
          New phase for Hongkong Land
          36 24 SPOTTED in the South China Morning Post newspaper, this headline to an article on Hongkong Land buying back some of its loan stocks prematurely: "Hongkong Land in redemption". Amen to that.
          36 words
        • Article
          Study in different outlooks
          98 24 THE Australian Stock Exchange is undertaking a study on the possible damage caused by companies with extensive interlocking shareholdings when a core member gets into trouble. The study was initiated in the aftermath of the Adelaide Steamship affair, and it is understood that the ASE is
          98 words
        • Article
          Who has what in Shangri-La
          116 24 FOR those who arc interested in directors' holdings, this was the state of affairs as at Jan 21, 1991, of Shangri-La Hotel. Mr Ang Poon Soon, of Hoc Seng group, was deemed to have interest in 14.57 million shares, making him the director with the
          116 words
      • Article
        Do life companies qualify for tax breaks?
        1077 24  -  TAKING By Alan Street INDIVIDUAL taxpayers may claim relief in certain circumstances for the premiums paid for life insurance policies. The income tax rules state that the policy must have been taken with a life company that has an office in Singapore and
        1,077 words
      • Article, Illustration
        Lock icon What a buyer should consider when purchasing property
        889 25  -  Are 99-year leasehold residential properties less of an investment than freehold and 999-year leasehold properties? Ruyee How compares the two types of assets and discusses the outlook for the general property market. Ruyee How The writer is a director of property consultants
        Source: Richard Ellis Research, Singapore  -  889 words
      • Article
        Currency futures: the returns match the risks
        715 25  -  Currency swings can easily wipe off any interest gains on foreign currency deposits. Chew Eng Han discusses how futures can be used to capitalise on those swings. Chew Eng Han CURRENCY investment does not simply involve picking the currency with the highest yields.
        715 words
    • JOBS
      • Article, Illustration
        Perils and pleasures of working in Cairo
        871 26  -  S N Vasuki speaks to Manjeet Singh Grewal, SlA's general manager in Cairo, on living and working in Egypt S N Vasuki Manjeet Singh Grewal has lived in Cairo less than a year but he knows the bustling city's Byzantine alleys like the
        871 words
      • Article, Illustration
        Lock icon Choosing the right firm
        666 26 The job may be right, but is the firm? If your personality and lifestyle match the employers characteristics then you are on the right track. THE PAINTER Francis Bacon found last year that his creative inspiration dried up when he moved into a spacious new studio
        Punch  -  666 words
      • Article, Illustration
        EXECUTIVE MOVES
        393 26 Mr Masahide Ito and Mr Steven DePaoli have been appointed President and Exccutivc Vice-President, respectively of Fuji/GE Pte Ltd. Mr Ito brings with him more than 20 years' experience in the electrical power generation and distribution industry. Most recently, he was South-cast Asian sales manager for Fuji Electric
        393 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1083 27 City Flight ETA Flight ETD City Flight ETA Flight ETD liMt QF081 2000 SQ227 QF082 2200 2200 MH644 SQl 11 MH671 1650 1705 1800 MH631 MH610 MH643 1610 1715 1730 Amsterdam SQ23 KL837 1345 1415 KL838 SQ24 2115 2200 MM/SQ671 SQl 13 MH613 1800 1805 1850
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    • THE TRAVEL PAGE
      • Article, Illustration
        Splendour in the royal courtyards
        605 27 LETTER FROM PATAN PATAN, the cradle of traditional arts and architecture in the Valley of Kathmandu, is also known by its ancient name of the Beautiful City. The Patan Durbar Square is in the heart of the city and must rank as one of the
        605 words
      • Article
        MONEY CHANGER RATES
        160 27 As at 3pm yesterday: Ixxnl dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.370 1.390 Canadian dollar 1.525 1.545 NZ dollar 1.027 1 062 Sterling pound 2.986 3.006 US dollar 1.7710 1.7810 l/xal dollars to 100 units of foreign currency Austrian schilling 14.20
        160 words
      • TRAVEL SLICES
        • Article
          Display of timeless Swiss beauty
          74 27 VISITORS cn route to Switzerland might want to stop over in Geneva to visit a new exhibition of historic watches made by Patck Philippe. A number of unique engraved watches dating back.to 1840 arc on display. The watchmaker's private collection is on display at the
          74 words
        • Article
          Hyatt HK's summer package
          86 27 THE Hyatt Regency Hotel in Hongkong has launched a "Summer Fantasia" package, valid until Sept 30. The daily package for the Nathan Road hotel is HKSSOO (about SSIIS) per person, on a double occupancy basis, and there is a minimum stay of two nights. Single occupancy
          86 words
        • Article
          More flights to Sydney
          62 27 LUFTHANSA is to add a second weekly service from Singapore to Sydney via Melbourne, starting from May 4. Flights (LH7BB) will leave Singapore on Wednesdays and Saturdays; previously this scrvcic operated once weekly on Thursdays. Lufthansa also is adding a second weekly flight from Singapore to
          62 words
        • Article
          Weekend rates at KL hotel
          82 27 THE Regent Hotel in Kula Lumpur has introduced a special weekend room price of M 5277 (about Ssl7s) a night, plus 14 per cent tax and service charge. Available on Friday, Saturday and Sunday nights, this rate is for single or double occupancy and includes
          82 words
      • Article
        WORLD TRADE EXHIBITIONS
        214 27 Duration Title Venue Organiser Tel Duration Title Venue Organiser Tel April 20- International Florence. SOGESE S.p.A *****9721 May 21-25 Medicine Zagreb. Zagrebacki (38)*****66* May I Handicraft Italy Technology Yugoslavia Vdc*jam Fair International April 28- International London The Building *****6-1951 Exhibition of May 2 Food Dnnk Trades Medical.
        214 words
    • TIME OFF
      • Article
        THEATRE
        133 28 SSO Quartet featuring C'hua Lik Wuk (violin!, Foo Say Ming (violin), Lim Soon Lcc (viola) and Koo hiang (ccllo). Also featuring Lim Tze C'hian (viola) and Ici Kong (oboe). Programme includes pieces from Mozart and Beethoven. l'i lon a (omen Hall, Apr JO ai H.lspm. la Rupture (1972) The
        133 words
      • Article, Illustration
        EXHIBITIONS
        389 28  -  Compiled by K Jayanti Treasures Of Old Indonesia, Exhibition Sale Old Javanese gold from historic sites, "Kendi" jars salvaged from ruins in Lampang, exquisite Sumatran textiles which mirror ancient weaving methods, as well as other interesting archaeological finds, some dating back to the sth Century, will be on display.
        389 words
    • Article, Illustration
      CINEMA
      616 28 Awakenings. Robert DcNiro does some hand and legwork and gets himself an Oscar nomination in this movie based on a true story about a catatonic case and his shy doctor. Robin Williams is the introverted physician who searches indefatigably for a cure and finds it, only to have his
      616 words
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      7 17 Preserve Planet Kartli Award winners. EL 7
      7 words
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      Page 17 Advertisements Column 2
      103 17 QOSQ Since 1735 there has never been a quartz Blancpain watch. And there never will be. Model shown 6595 1418 58 ,18. 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
      103 words
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      26 18 BT welcomes letters from you. Address them to: The Editor, Business Times, Times House, 390 Kim Seng Road, Spore 0923. letters should include your contact numbers.
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      28 18 DOONESBURY OY GARRY tRUDEAU farrr GOME NEJAfo ATO4OO /1//I/VI PERMISSION D6HI6V 1 AT BASE FOR YOU' OUB-'RB HOME 7 ThURSOW i/wftUO* TO Ktss I'LL COLfZT~ m ss W
      28 words
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      416 19 THE POWERFUL DEADLY COMBINATION 0F... GREG NORM AN Backed by COBRA S technological advances and Top Tour-Pro experiences of Greg Norman, this range of golf clubs are for discriminating golfers both professionals and serious amateurs. The TRD II Irons Metal Woods come with Platinum Super Comp The Baffler Blade II
      416 words
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      1116 20 WHERE TO WINE. PINE AND ENTERTAIN WHEBE TO WINE, PINE AND ENTERTAIN WHEBE TO WINE, DINE I GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO 5.00 PM. HAPPY HOUR& DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. wC
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  • Page 20 Miscellaneous
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      231 21 AND ENTERTAIN Brunch Is A Family Affair Every Sunday. SUNDAY BRUNCH: 11AMIX) tmjff ADULTS twß fln U-rsM.oc*» CHIIDREN Every Sunday, Hubertus Grill becomes the venue for a great Sunday family outing. A scrumptious buffet spread is laid out for both grown-ups and children. J4 ANA HOTEL 16 NASSIM HILL, SINGAPORE
      231 words
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      Page 21 Advertisements Column 2
      7 21 Enterprise and management in BT every Monday
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  • Page 25 Advertisements
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      16 25 >. >y. i She has 1 S changed your whole life we will help plan your tomorrows.
      16 words
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      Page 25 Advertisements Column 2
      427 25 EXPRESS SHARE LOAN The ca&uAt way of turning shares into catk <ut PotnM FWEEttFTS- Quick and Easy. Get instant cash for your shares —j over the counter at any of our 28 branches 1 6 iPMpsSottrCJcUMor Loans from $2,000 to $50,000 7 1 boßt Wwny Mrtn XO (Sd) Borrow for
      427 words
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      171 26 BUSINESS TIMES TELEPHONE: 730-5771/5772/5773 FAX: 734-4982 TIMES PERIODICALS Publisher of some of Singapore's -selling^ or ensurm 8 a high standard of design and visual journalism and will work closely with all departments at every stage of the P roduct on the Company's magazines to Publishing design experience is preferable but
      171 words
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      Page 26 Advertisements Column 2
      155 26 DHL IN THE NEWS Advertisement DHL INTRODUCES AUTOMATED CUSTOMER SERVICE To deliver even better phone-bank system, allows DHLs ACS system service, DHL Worldwide customers to select a service makes the booking of a Express now has an Auto- such as booking a shipment collection and tracking of a mated Customer
      155 words
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      39 27 Apart from 35 European cities, Finnair Oslo flies to Norway. With a superb twice-weekly service from Singapore to Helsinki and then on to everywhere from Berlin to Bangkok. Call *****77 for details. We know Europe from start to Finnish
      39 words
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      Page 27 Advertisements Column 2
      114 27 -a. 1 < Jff Scalpel...scissors...sutures... Business Times Whether you're a surgeon, lawyer, contractor or engineer, all the current trends that affect them you need to he kept well informed to maxim.se returns on Kssential information accessible every busines day your money through Husirvoss Times r y aSU x^ n The
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  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      297 27 Humble oneself to go down Pr after study (10) BH 6 Fight in the ring perhaps. 9 I with sharp blows being re- —iBl" ■■T BB ■HH I I 9 Did not stress how cafe 111 i*T|B iHf sometimes appear (10) __BB__BB__ 13 Slow-moving snake (7) Lm H Open a
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      Page 27 Miscellaneous Column 2
      169 27 World forecast Asia-Pacific Ifi/Ln* Cond. Auckland 19/14 Fair Bangkok 35/25 Fair Beijing 18/09 Cloudy Brunei .29/24 Showers Hongkong 26/20 Cloudy Jakarta 31/25 Showers Kuala Lumpur.. 33/24 Showers Manila 33/26 Fair Melbourne 17/10 Cloudy Perth 30/18 Cloudy Seoul 20/09 Fair Sydney 21/13 Showers Taipei. 27/21 Cloudy Tokyo 19/13 Cloudy Wellington 15/12
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      35 27 or course vou dont Km* fvSnc- (Vic imp 1 I DiSGOiseD (ca «N rfrZts w fs/OO MeJurop i FRENCW OWQN J\& y see, nod corqe. 'Ny vggugg.... «f .-a e EVENING STANDARD CO LTD IM2-IMI
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  • Page 28 Miscellaneous
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      Page 28 Miscellaneous Column 1
      1752 28 TODAY'S TV HHWPWIVMiHHHI CDOC 2.00 Drama 3.00 Riang Bersama AnTra«l Travel: Switzerland. 900 L'TJ.T 400 W.JUpm, bBU 9.30 Sesame Street. 4.28 Asar Prayer CaM. An Indonesian movie about Afraid of heights? Riding in JJJJ SET HI <L) v the trials and tribulations of ca b| c cars? Then take a
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      Page 28 Miscellaneous Column 2
      648 28 MOVIES ON TV Fedora, Mon, 10.30pm, SBC dentally brush the amphibi--12 an's mouth, turning it into a A film producer gets wind of handsome prince. This a rcclusivc actress and immc- Grimm Brothers fairy tale diatcly think that since she stars Ailecn Quinn and Clivc behaves like Greta Garbo, Revill.
      648 words