The Business Times, 27 July 1991

Microfilm: NL17606
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, July 27-28 1991 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      Dow lower
      37 1 THE NEW YORK stock market retreated yesterday morning amid spreading worries that the economy might lapse back into recession. The Dow Jones Industrial Average fell 5.59 points to 2,974.51 in the First hour of trading.
      37 words
    • Article
      Footsie up
      41 1 LONDON share prices touched a record high yesterday morning in a surge of bullishness following better-than-expected interim results from Lloyds Bank. At 1116 GMT, the FTSE 100share index was up 11.3 points at 2,590.9. Volume was 276.1 million shares.
      41 words
    • Article
      Tokyo long-term credit banks to cut prime
      57 1 TOKYO Three Japanese long-term crcdit banks said they would cut their long-term prime lending rate by 0.2 percentage points to 7.7 per cent a year next Thursday. The three banks are the Long-Term Credit Bank of Japan Ltd, the Industrial Bank of Japan
      57 words
    • Article
      Chatichai on graft rap
      55 1 BANGKOK Former Thai prime minister Chatichai Choonhavan, overthrown in a coup early this year, was accused of corruption yesterday by an anti-graft committee. The committee, set up by the military junta which seized power in February, said the 71-year-old former premier had amassed a fortune during
      55 words
    • Article
      Seiko upgrades plant
      28 1 SEIKO Instruments Singapore (SIS) is investing another $30 million over the next four years to upgrade the equipment at its existing manufacturing plant Page 2
      28 words
    • Article
      No grey area
      28 1 THE latest wave of initial public offers is drawing little attention on the grey or unofficial market because of the general, market lethargy Page 3
      28 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 720.81 +1.95 Kuala Lumpur ....605.46 5.49 Tokyo 23,519.07 +186.36 Hongkong 4,031.29 +18.67 Sydney 1,563.1 +4.1 Thursday Change New York 2,980.10 +13.87 London 2,579.6 -0.9
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    • Article
      CURRENCIES
      22 1 Exchange rates USS SS 1.7530 100 Yen SS 1.2662 MS SS 0.6290 Money market rates Ovemighi 5-1/8 +1/2 3-month 5-9/16% unch
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    • Article
      COMMODITIES
      37 1 London Gold AM fix USS364.70 -US50.40 Rubber 5Tpore Aug... l42.50*/kg -0.50 M'sia Aug 227 50*/kg unch KL Tin Turnover 62 tonnes +7 Spot M$l5.54/kg unch Crude palm oiJ Turnover 1,547 lots -852 Aug MS892 /tonne -I
      37 words
  • Article, Illustration
    Idris to offer six Langkawi sites for hotel projects
    531 1  -  Company in talks with Malaysian and foreign developers By William Chia BUMIPUTRA investment holding company Idris Hydraulic, which is acquiring Promet Bhd's Langkawi project for M 574.7 million (Ss47 million), intends to speed things up by offering six hotel sites for
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  • Article, Illustration
    Aussie reports not all biased, insensitive to Asia: Evans
    340 1  -  By Shoeb Kagda NOT ALL of Australia's media produce insensitive and biased reporting of Asian countries, said Australian Foreign Minister Mr Gareth Evans yesterday. The minister was at a press conference after a twoday visit to Singapore, responding to questions about
    340 words
  • Article
    Canberra 'relaxed' over EAEG plan
    168 1 AUSTRALIA is "relaxed" about the idea of an East Asia Economic Grouping (EAEG) but it is not comfortable with the idea of creating an East Asian trade bloc to rival North America's or the common market in Europe. Australian Foreign Minister Gareth Evans said yesterday
    168 words
  • Article
    Lock icon US economy grows a modest 0.4pc
    205 1 Reuter WASHINGTON The US economy rebounded modestly in the second quarter after six months of decline, growing at a 0.4 per cent annual rate, the government said. Although the growth was weaker than expected, the rise supports the prevailing view among economists that the
    Reuter  -  205 words
  • Article
    New MAS rule may hurt offshore licensed banks
    544 1  -  They finance overseas property buys in Brunei By S N Vasuki OFFSHORE licensed banks which have been financing overseas property acquisitions by Singaporeans in Brunei dollars over and above their local lending limits are expected to be hurt by a new ruling
    544 words
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        No insurance for Uganda mail
        46 2 THE Telecommunications Authority of Singapore yesterday said that the insurance service for surface letters and surface parcels to Uganda will cease to operate with immediate effect. The statement said the postal administration of Uganda has ceased to participate in the service.
        46 words
      • Article
        Natas deputy president resigns
        46 2 MR ROBERT KHOO has resigned from his position as deputy president of the National Association of Travel Agents Singapore (Natas). He has been replaced by Mr Dennis Choo, managing director of Holiday Tours Travel Pte Ltd and Natas' vice-president of ticket sales.
        46 words
      • Article
        National Day Parade preview
        55 2 A PREVIEW of the National Day Parade will be held today at the National Stadium, which will be open from 3.30 pm. Members of the public are to be seated by 5.45 pm. Invited guests should bring their invitation cards and proceed to the West Entrance
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      • Article
        Hongkong food promotion
        50 2 THE Hongkong Tourist Association is co-sponsoring with Cathay Pacific Airways two Hongkong food promotions at the Equatorial hotels in Kuala Lumpur and Singapore. The Kuala Lumpur event will he held from Aug 9 to Aug 16 while that in Singapore is from Aug 17 to Aug 25.
        50 words
    • Article
      Contest for outstanding young managers
      172 2 A COMPETITION for outstanding young managers is being organised by Sundridge Hark Management Centre and the PA Consulting Group, in conjunction with Singapore Business maga/ine, to mark the launch of Sundridge Park Management Development Programmes in Asia. The winner will be flown to Britain to
      172 words
    • Article
      Seiko Instruments S'pore to invest $30m over next 4 years
      370 2  -  By Joseph Rajendran SEIKO Instruments Singapore (SIS), a subsidiary of Japan's Seiko Instruments, is investing another $30 million over the next four years, bringing its total investments here to $100 million. This was disclosed by the Minister of State for
      370 words
    • Article
      Healthcare firm invests more in S'pore
      196 2 VIGGO-SPECTRAMED. a BOC healthcare company which opened its new $11 million medical devices plant yesterday, will invest another $11 million here in the next three years. The company's two other leased plants in Ang Mo Kio will be closed down within the next few
      196 words
    • Article
      GATX Terminals in $35m expansion of Jurong facilities
      318 2  -  By Magdalene Phang CHEMICAL storage company GATX Terminals is spending over $35 million to build two berths and 18 storage tanks to expand its facilities at Jurong. The $22 million berth expansion project is expected to be completed by October next year.
      318 words
    • Article
      Arbitrators body steps up efforts to upgrade quality
      289 2  -  By Selva Kumar THE Singapore Institute of Arbitrators has stepped up efforts to upgrade the quality of local arbitrators. The Institute has mooted talks with officials from the UK-based Chartered Institute of Arbitrators to conduct courses for local arbitrators sitting for the
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      684 2 Vessel Voy No Berth Arnvai Departite Vessel Voy Wo Berth Arnvai Departue Marina Terminal 1 MHet NCS14 SOI alongsrte 27 07/0700 Batam Maju *****1 M05 27 07/0500 Samn* Blonde P15« S03 alongside 2707/0730 Batam Sayang *****1 M04 alongside 27 07/2300 Topa/ 1/91 S02 alongside 28 07/1800 Batarrundo
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    • Article
      CONTAINER SCHEDULE
      1063 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Bookint/Balance Rslts Sty Voy No Etb/Btr Penod From To From Ace Concord ??W ?9/1700 2 26/1700 27/0659 27/0900 4 27/1200 27/1459 27/1700 Alia Btium 51 IN 28/1800 1 26/1500 26/1659 26/1900 2 26/1700 27/0659 27/0900 4 27/1200 27/1459 27/1700
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    • Article
      IN MALAYSIAN PORTS
      226 2 IAItAFA ftrnj ignore ron Berth: 1 Sea Road. 2 Sri Nam Hua No 2, Yang Zi Jiang No 6; 3: Xin Du; 4 Sergey lemeshev. 5 Reform: 6 Nogogini 01 jetty: Tove Cob, Botany Trinity DCJ: Zaman Baru Dua Due on July 26: Bunga Semarak Meridian Sun.
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article, Illustration
      Centrepoint plans shopping centre off Robertson Quay
      410 3  -  By Sylvia Wong FOLLOWING A SPATE of commercial developments in Robertson Quay, Centrepoint Properties Ltd plans to build a specialty shopping and residential block costing about $60 million there. If Centrepoint Properties' plan is approved by the Urban Redevelopment Authority (URA), a 10-storey
      410 words
    • Article
      Public Bank's after-tax profit up 47.9pc in first half
      318 3  -  By Diana Oon PUBLIC BANK Bhd, Malaysia's second-largest listed bank, turned in another set of sterling results for the first half of this year. Its audited results released yesterday showed a consolidated operating profit after tax and minority interests of M
      318 words
    • Article
      Metro's proposed bonus issue approved
      117 3 METRO HOLDINGS* proposed bonus issue and conversion to scripless trading were approved by shareholders during an extraordinary meeting yesterday. The time-table for conversion to scripless trading will follow that mentioned in an earlier circular. Shareholders may deposit their certificates with the Central Depository Pte Ltd
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    • Article
      Lock icon Choc Products ends agreement
      189 3 MBT KIJALA I.UMPIJR Chocolate Products (Malaysia) (CPM) has terminated its licensing agreement with J Van Mouten Zoon Moldings of Zurich. ("I'M general manager Su Thai Ping said yesterday that the terms for the renewal of the agreement which expires on Jan 15 were unacceptable to C
      MBT  -  189 words
    • Article, Illustration
      Good thing Metro owns a prime property
      804 3  -  THE HOCK LOCK SIEW COLUMN By Lee Han Shih IN 1993, Metro will reach two milestones. First, it will celebrate its 36th year of operation in Singapore, quite an achievement considering the youth of the country. Second, the company will probably, for the
      804 words
    • Article
      Latest offers fail to excite grey market
      285 3  -  By Carolyn Lim THE LATEST wave of initial public offers seems to be drawing little attention on the grey or unofficial market. Buyers on the grey market are said to be bidding at around $1.70 for Singapore Electronic and Engineering's shares, which is
      285 words
    • Article
      Lock icon Lien Hoe Corp entering into hotel business
      337 3 Bernama KUALA LUMPUR Prop-ertv-based Lien Hoe Corporation Bhd is moving into the hotel business by opening a budget-class hotel before going into it in a big way later, chairman Tow Kong Liang said yesterday. He said after the company's annual general meeting here
      Bernama  -  337 words
    • Article
      UIC's finance director resigns
      233 3 PETER Chong Hong Riong, former banker and until late last year the financial wizard of Mr Oei Hong Leong, has resigned as finance director of United Industrial Corporation I (UIC). A brief statement from UIC said Mr Chong stepped down from the boards of UIC and
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    • COMPANY BRIEFS
      • Article
        DBS rights shares start trading from Tuesday
        56 3 THE Development Bank of Singapore (DBS) yesterday announced that an additional 47.42 million ordinary shares of SI each arising from the rights issue of one for 10 at $9.60 per share for local shareholders and $10.50 per share for foreign shareholders will be
        56 words
      • Article
        Temasek buys more SIA shares
        45 3 TEMASEK Holdings has paid $40,764.20 for 3.000 Singapore Airlines shares, which will take the total number of shares held by the government-backed group to 345.84 million shares. Its share of issued capital will, however, remain unchanged at 54.27 per cent.
        45 words
      • Article
        Stake in Pacific Carriers cut
        33 3 PACIFIC Carriers announced that its substantial shareholder. Natalon Company, has reduced its stake from 27.45 per cent to 27.43 per cent by selling 60.000 shares for $82.35 million.
        33 words
      • Article
        Temasek sells DBS Land shares
        43 3 TEMASEK Holdings has sold 150,000 DBS Land shares for a total of 5369.94 million. The group's stake in DBS Land has been reduced accordingly to 47.19 per cent (305.52 million shares) from 47.21 per cent (305.67 million shares).
        43 words
      • Article
        Java Fund appoints director
        24 3 MR JEAN-FRANCOIS Tuan Hung Canton has been appointed a director of the Java Fund (Cayman) with effect from Julv 15.
        24 words
    • Article
      Warrants: premiums and gearing
      1006 3 Prices as at 26.07.91 Conversion terms Premium/ Expiry i (discount) T Amount Optional** using issued Company (mil Wrts Share Loan Con* Exer Lnsth Cash Cash Loan Gearing Date Mtfcs units) stock ratio price nom Stfc. Left value > i L_ Bur will 115 2 0 235
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      125 3 w"-' mm? k^ l > lln i^nw^ Scalpel...scissors...sutures.- Business Times Whether you re a surgeon, lawyer, contractor or engineer. all the current trends that affect them you need to be kept well informed to maximise returns on your money. Essential information accessible every business day through Business Times. In the
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  • REGIONAL / INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Christie's sees turnover plummet 55pc
        87 4 LONDON Turnover at Christie's International, one of the top worldwide auetion companies, was 55 per cent less in the 12 months up to the end of July than in the preceding year, Christie's said yesterday. Sales for the year just ended were £650 million (S$
        87 words
      • Article
        Asahi Glass lowers forecasts
        74 4 TOKYO Asahi Glass Co Ltd has revised its parent net profit forecast for calendar 1991 down to 43 billion yen (***** million) from a February' forecast of 44 billion yen, against 40.54 billion the year before, the company said in a statement. Asahi Glass also lowered
        74 words
      • Article
        LA Gear's profit becomes a loss
        103 4 LOS ANGELES After saying on July 2 that it made a small profit in the second quarter, LA Gear Inc revised that statement on Thursday to show a US$4 million (Ss7 million) loss. The company had needed to show a profit to avoid defaulting
        103 words
      • Article
        Fletcher Canada expects C$100m
        73 4 WELLINGTON Fletcher Challenge Ltd said Fletcher Challenge Canada Ltd was expecting total cash of around Csloo million (S$ 151 million) as the result of the planned sale of its Fraser Mills and Hammond sawmills and related fibre supply to International Forest Products Ltd. FCL said in
        73 words
      • Article
        Hitachi in US aerospace venture
        50 4 TOKYO Japan's Hitachi Ltd and the TRW Inc of the US have formed a long-term and wide-range strategic alliance in the aerospace business, Hitachi said in a statement. The companies will jointly develop technologies and products and will jointly take orders in the aerospace business.
        50 words
    • Article
      GFW places out 9.2pc of its shares for A$170m
      205 4  -  From Geoffrey Harris in MELBOURNE AUSTRALASIAN food group Goodman Fielder Wattie (GFW) has disposed of a 9.2 per cent stake in itself, raising almost AS 170 million (Ss23o million). Melbourne-based stockbroker Potter Warburg this week placed 100 million GFW shares with
      205 words
    • Article, Illustration
      Lock icon Three US computer giants hopeful about prospects
      849 4 Data General continues to turn in profits; Digital, Wang post losses Agencies BOSTON Digital Equipment Corp reported a loss of U*****.3 million (S$ 1.525 billion) on Thursday after taking a US$l.l billion charge against earnings in the final quarter of its fiscal year.
      Agencies  -  849 words
    • Article
      Lock icon Second half of 1991 will be difficult, says Ford chairman
      288 4 Reuter DEARBORN, Michigan Ford Motor Co chairman Harold Poling said the second half of 1991 will be difficult for the nation's second largest auto manufacturer as the US economy slowly recovers. "The second half of 1991 will be difficult," Mr
      Reuter  -  288 words
    • Article
      Thai, Italian firms in steel venture
      246 4 BANGKOK— TWO major Thai steel manufacturers, in partnership with an Italian firm, have announced a joint investment of 7.8 billion baht (*****.9 million), to produce stainless steel sheets and slabs, the Bangkok Post reported earlier this week. The announcement was made by Sahaviriya Group
      246 words
    • Article
      Hughes cutting dependence on military contracts
      321 4  -  From Christopher Reed in LOS ANGELES THE WORLD'S largest defence electronics contractor, Hughes Aircraft Co of Los Angeles, is shifting corporate emphasis more towards commercial products as America's military hardware industry continues to shrink. The move comes in response to the trend since the
      321 words
    • Article
      Lock icon UAL, Delta post sharp drops in quarterly earnings
      288 4 Reuter CHICAGO Two top US airlines have posted sharply lower quarterly earnings, but Wall Street was relieved that war and recession had not taken an even greater toll on the struggling industry. UAL Corp, the parent of United Airlines, said its net
      Reuter  -  288 words
    • Article
      Lock icon Walt Disney profits fall as recession hits parks, resorts
      301 4 AP BURBANK, California Walt Disney Co on Thursday reported its third straight drop in quarterly profits, a 31 per cent plunge as the recession kept visitors from its theme parks and resorts. In the quarter ended June 30, Disney earned U*****.5
      AP  -  301 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      146 4 y xx |l C TRY A LITTLE CHINESE SMOKE THIS WEEKEND. TRACER VK'S The Chinese Smoke Oven Weekend Lunch T«£r» M at Trader Vic's promises to fire up your appetite. Renowned around the world, our unique smoke ovens add special tantalizing fiavour to fresh seafood, chicken, pork, lamb and beef.
      146 words
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      Page 4 Advertisements Column 2
      69 4 TANG SAN ANTIQUE HOUSE C= cordially invite R the pleasure of your company MING AND QING DYNASTIES ANTIOUE FURNITURE EXHIBITION ..M (WUMSWOOOI Wu Mei, Zitan Huang tiuali, Jichi, Duan, Blackwood And Klmwood. Venue: Mandarin Singapore Reception Hall (sth Floor, South Wing) 333, Orchard Road, Singaporeo923 Date 26-7-91 till 1-8-91 ■a
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon Second Japanese bank reveals fraud by ex-staff
      555 5 AP TOKYO In yet another in a string ot' financial scandals, a second bank announced yesterday that a former employee had issued fake certificates of deposit worth millions of dollars to help clients obtain loans. Kazuo Toyama, a former senior sales manager of
      AP  -  555 words
    • Article
      Lock icon UK tightens rules on convertible issues
      359 5 Reuter LONDON Britain's accountancy watchdog said it has tightened rules to discourage the use of a type of convertible bond that pushed several UK companies into financial straits when share prices plummeted four years ago. The Accounting Standards Board (ASB), Britain's accountancy watchdog, has
      Reuter  -  359 words
    • Article, Illustration
      Mixed outlook for US dollar
      510 5 DBS Bank weekly currency review US$/Dm: Bearish outlook on hold? The US dollar broke through the 1.7490 support last Friday. trading to a low of 1.7455 before closing at 1.7470. It recovered early this week, reaching a high of 1.7725 on Tuesday, before selling pressure
      510 words
    • Article
      Lock icon Abu Dhabi won't bail out BCCI: Gulf bankers
      527 5 The BCCI crisis Reuter DUBAI The ruler of Abu Dhabi is not prepared to waste any more money on the scandal-hit Bank of Credit and Commerce International SA, Gulf bankers say. The family of Sheikh Zayed bin Sultan al-Nahavan and the state
      Reuter  -  527 words
    • Article
      Lock icon Foreign trust banks in Japan post lower profits
      253 5 Reuter TOKYO Pre-tax profits of nine foreign trust banks in Japan fell to 719 million yen (559.12 million) in fiscal 1990/91 ending March 31 from a 54.52 billion yen gain last year, trust banking sources said. Of these, three banks made losses
      Reuter  -  253 words
    • Article
      Lock icon Midlantic plans to merge its New Jersey banks
      358 5 Reuter EDISON, New Jersey Midlantic Corp plans to merge its two New Jersey banks by the end of the year, resulting in some layoffs. Outlining a major restructuring plan. Gary Scheuring. Midlantic's chairman, president and chief executive officer, also said on Thursday
      Reuter  -  358 words
    • SMALL CHANGE
      • Article
        Commerzbank confident of good results
        103 5 FRANKFURT Commerzbank AG said it was confident it would report a good operating result for the full 1991 year after its group operating profit rose 38.1 per cent in the first six months. It gave no absolute operating figure. "As writedowns on securities in our
        103 words
      • Article
        Lloyds Bank: hard times remain
        86 5 LONDON Lloyds Bank chairman Sir Jeremy Morse said profits had recovered from the second half of last year, mainly due to firm cost control and lower provisions for bad and doubtful debts. "But conditions have remained difficult for us and our customers, particularly in the
        86 words
      • Article
        Goldman to revamp operations
        74 5 NEW YORK Goldman Sachs and Co plans to reorganise its merchant banking efforts into a new area that will handle all of Goldman's long-term, illiquid principal activities, including leveraged buyouts, special situations and venture capital, according to an internal memo on Thursday. The plan came after
        74 words
      • Article
        Bank of Boston recovering
        96 5 BOSTON Bank of Boston Corp. which posted a 1991 second quarter net loss of USS49 million, said it was on a course of recovery by managing costs, asset quality and reducing non-accrual assets and problem real estate loans. The second quarter included a restructuring charge of
        96 words
      • Article
        Banks expect to be bought out
        107 5 WASHINGTON One in every six commercial banks responding to a survey expects to be bought out within a few years after Congress passes legislation removing 64-\ear-old barriers to interstate banking. If that proves accurate, the number of commercial banks in the nation, which topped
        107 words
      • Article
        Banco Popular to reject any bid
        86 5 MADRID Banco Popular SA will defend itself against any hostile bid. although it is always ready to consider friendly participations, a senior bank official said on Thursday. "We are sufficiently agile to escape any would-be hunters," a director of the bank. Manuel Martin, told
        86 words
    • Article
      Lock icon ADB, two groups to buy 25pc stake in Xiamen bank
      310 5 Reuter HONGKONG The Xiamen International Bank (XIB), China's only joint venture bank, said it has reached an agreement for the Asian Development Bank (ADB) and two other groups to acquire a 25 per cent share in it for HKS2OO million.
      Reuter  -  310 words
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      Page 6 Advertisements Column 1
      1075 6 t/H IS IS WHAT THE CARD OFFERS YOU FOR $3 00. <JxU BSTANTIAL SAVINGS ON TRAVEL TO EXOTIC PLACES. SAVINGS ON DINING AT SOME OF THE FINEST RESTAURANTS IN TOWN. D MORE. JES AIR SEMPATI AIR During the past weeks, you've seen and HOT EL S/ RE S O RTS
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  • THE REGION/THE WORLD
    • Article
      Thais may promote commercial real estate investment
      375 7 80l move will give Hopewell promotional privileges BANGKOK The Board of Investment (Bol) is likely to set real estate development for commercial purposes as a new category eligible to receive its promotion. Bangkok Post reported on Thursday that the policy, if approved at
      375 words
    • Article
      Lock icon OECD report warns of wage rises in eastern Germany
      313 7 FT BONN The German government was warned against the danger of excessive wage rises in eastern Germany yesterday and criticised several aspects of the mass privatisation process being carried out in the former communist East. Concern about the collapse of the
      FT  -  313 words
    • WORLD WATCH
      • Article
        More US businesses fail in first 6 months
        95 7 NEW YORK Fifty per cent more businesses failed in the first six months of this year than in the first half of 1990, reflecting the impact of the recession, the Dun-and-Bradstreet Corp reported on Thursday. The biggest increase was among transportation and
        95 words
      • Article
        Taiwan GNP growth nears 7pc
        80 7 TAIPEI Booming exports and strong state spending on public works will push Taiwan's Gross National Product growth up to nearly seven per cent this year, the government's Council of Economic Planning and Development said on Thursday. Council chairwoman Shirley Kuo told a cabinet meeting that
        80 words
      • Article
        Taiwanese invest more in Perak
        72 7 IPOH Seven companies from Taiwan will invest Msllo million (5569.1 million) in Perak in response to a state government investment seminar held in Taipeh recently, Menteri Bcsar Tan Sri Ramli Ngah Talib said on Thursday. The companies would set up factories to produce, among others,
        72 words
      • Article
        S Korea's trade deficit widens
        81 7 SEOUL South Korea's imports of foreign goods continued to grow in July, casting doubts on government efforts to hold this year's trade deficit to the US$6 billion (S$ 10.5 billion) level. Officials at the Trade-Industry Ministry said merchandise exports in the first 23 days of
        81 words
      • Article
        Labor denies income gap wider
        65 7 SYDNEY Australia's Labor government denied yesterday claims that the income gap between Australia's rich and poor has widened since it came to power in 1983. Social Security Minister Graham Richardson said figures released this week by the opposition were based on taxable income and ignored
        65 words
      • Article
        Japan's retail trade up 8.3pc
        72 7 TOKYO Sales by Japan's large retailers in June came to 1,757 billion yen (5522.34 billion), up 8.3 per cent from a year earlier, government statistics showed yesterday. The statistics released by the Ministry of International Trade and Industry (Miti) showed that sales at 377 department
        72 words
    • Article
      Lock icon Draft of new Thai constitution comes under fire
      229 7 UPI BANGKOK The new Thai constitution, being drafted to pave the way back to democracy after the February military coup d etat. has come under fire for entrenching the military's political power instead. "There are several major problems with the draft as
      UPI  -  229 words
    • Article
      Lock icon Figures raise fears of double-dip US recession
      426 7 AP WASHINGTON Gloomy economic figures, including a jump in the number of people filing new jobless claims, on Thursday added to fears that the country is headed for a double-dip recession rather than the sustained recovery forecast by the Bush administration. The Labor
      AP  -  426 words
    • Article
      Lock icon US unveils new $100 bill to foil colour copiers
      192 7 AP WASHINGTON The government on Thursday unveiled a US$lOO bill designed to foil counterfeiters using high-tech-nology, state-of-the-art colour copiers. But the changes the addition of a nearly invisible thread and a microscopic line of type "are subtle and nearly invisible to
      AP  -  192 words
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      Page 7 Advertisements Column 1
      913 7 UP NOW AND WIN. Two nights' accommtxlation for two at The Lakehouse, BONUS DRAW Cameron Highlands (three winners). Weekend stay for two at Hilton International Singapore, inclusive of daily breakfast and one $300 meal voucher. TOURS/ LEISURE PRIZES Weekend stay for two in Executive Suite at Concorde Hotel One return
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Investors stay away as market lacks direction
      4094 8  -  By Salil Tripathi EVER WATCHED grass grow or a snail move? Judging by the paee at which Singapore's stock market had been moving the past two days, the former activities just might be more exciting. Consider the figures: after an entire day, all
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4135 9 Main Board Robinson 482 +34 7.6% DBS Foreign 1370 +30 2.2% SI A 200 1360 20 15% OLB 545 +15 +2.8% S Finance 174 +11 f 6.7% SI A Foreign 1480 10 10.5% SI A 1370 M0 H). 7% Keppel Corpn 775 +10 +1.3% SfHvre
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Late buying pushes index above 600 level
      4234 10 Bernama SHARE PRICES fluctuated narrowly before closing mixed yesterday on some late bargain-hunting but investors were reluctant to take up large positions ahead of the weekend. Index-linked buying helped the KLSE Composite Index breach the psychological 600-point level to close 5.49 points higher
      Bernama  -  4,234 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks close firmer on rising bond prices
      2218 11 Reuter TOKYO STOCKS closed firmer yesterday. The market turned bullish in the afternoon, boosted by firmer bonds and futures. While a gain raised hopes that the brokerage scandal is being discounted, brokers said the market seemed to be ignoring negative factors such as
      Reuter  -  2,218 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Hang Seng at fifth record high in two weeks
      2033 11 AP SHARE PRICES on the Hongkong stock exchange closed at another record high yesterday the fifth in two weeks. The Hang Seng Index, the market's key indicator of blue chips, gained 18.67 points, closing at 4,031.29. Turnover amounted to HKS 1.997
      AP  -  2,033 words
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      Page 11 Advertisements Column 1
      316 11 NOTICE i IN THK MATTER OF THK COMPANIES ACT, CAP. M AND IN THK MATTER OK C HKMMOH TRADING PTE LTD (ImrpinM la Stagapare) (la Vdulary IJqnldatiMi) At an Extraordinary Genera! Meeting of Chemmos Trawling Pte Ltd duly convened and held at 100 Eu Tong Sen Street, aO4-18, Pearls Centre,
      316 words
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      Page 11 Advertisements Column 2
      34 11 READ G H A R T P 0 I N T EVERY 8 A T U R D A Y IN B U 8 I N E 8 8 T I M E 8
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  • REGIONAL STOCK MARKETS
    • Hectic trade continues in Seoul
      • Article
        AUSTRALIA
        863 12 AUSTRALIAN share prices edged higher yesterday in a day of lacklustre trade and heavy option expiries. Brokers said the market indicator was restricted to trading within a narrow band due to a mixture of buying and selling in small volumes. "There was no one-way book, but Fridays tend to
        863 words
      • Article
        Untitled
        86 12 INDICES TURNOVER CtoM Jul) 26 Previous AUSTMUA All Ordinaries Index All Industrials Index All Resources Index Turnover (million) 1,563.1 ***** 935.9 172.1 1559.0 2.374.6 931.5 121.8 4.1 3.4 4.4 50 3 BANGKOK SET Index Turnover (million baht) 742.41 5.150 728.59 +13.82 6.390 -1.240 JAKARTA Composite Index 332.479 NA MANILA Composite
        86 words
      • Article
        BANGKOK
        804 12 MAJOR BANKS recorded sharp share price gain yesterday to help push the SET index higher, brokers said. The index rose 13.82 points to 742.41 on a turnover of 5.15 billion baht. Bangkok Bank gained six baht to 324, Thai Farmers Bank 16 to 396, Siam Commercial Bank 22 to
        804 words
      • Article
        MANILA
        499 12 PHILIPPINE SHARES closed mixed to firmer yesterday in a fragile rally inspired by Wall Street's overnight gains. "It was just a brief rally." said Fe Paller, analyst at Citisecurities Inc. The Manila Stock Exchange composite index inched up 7.67 points to finish at 996.58. Oils were down on the
        499 words
      • Article
        JAKARTA
        660 12 SHARE PRICES dropped marginally yesterday in the Jakarta Stock Exchange on profit-taking, brokers said. One broker said the drop did not dampen enthusiasm in the market following reports that banks will cut interest rates on deposits. The index fell 0.476 percentage points to 332.479 from the previous day's in
        660 words
      • Article
        Untitled
        366 12 MORGAN STANLEY CAPITAL INTERNATIONAL INDICES la local currency In S$ In LSS day year day y ear S day year July 25 Index change change change change change change World 404.6 0.2 13.0 -0.3 8.5 -0.5 7.8 fEAFE 523.9 -0.1 11.5 -0.8 4.3 -1.0 3.6 Europe 431.9 -0.3 18.5 -0.9
        366 words
      • Article
        TAIPEI
        476 12 TAIWAN STOCKS closed lower across the board yesterday as profit-taking after gains in the past two days pulled the market down, brokers said. The weighted index fell 97.49 points or 1.9 per cent to close at 4,957.09 compared with Thursday's 5,054.58 Finish. Turnover was a moderate NT526.2 billion Taiwan
        476 words
      • Article
        SEOUL
        770 12 INVESTOR optimism that a sustained rally is in store pushed Seoul stocks sharply higher yesterday despite expectations that a correction was due after recent sharp gains, brokers said. "The market went up, giving no chance for a rest," said Huh Eui Do, a broker at Daewoo Securities. "Investors are
        770 words
      • Article
        NEW ZEALAND
        262 12 THE NEW ZEALAND share market ended weaker but off its lows yesterday after recovering from some nervous early pre-Budget selling and brokers see leading stocks marking time before the government's budget next Tuesday. "It ended not looking too bad at all," said Charles Batchelor of CS First Boston.
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  • WORLD STOCK MARKETS
    • Worries over US recovery sideline investors
      • Article, Illustration
        NEW YORK
        1179 13 STOCK PRICES moved higher on Thursday for the first time this week. Analysts, though, were not particularly impressed, blaming widespread scepticism about the economy for the sluggish performance. After sinking more than 50 points in the previous three sessions, the Dow Jones Industrial Average rose 13.87 points to
        1,179 words
      • Article, Illustration
        LONDON
        889 13 LONDON SHARES closed little changed on Thursday with trading relatively subdued after the market's recent record-breaking rally. "I have seen hardly any business today," said the head of equity trading at a UK brokerage. "The market is going nowhere at the moment and it looks like we are stuck
        889 words
      • Article
        FRANKFURT
        225 13 GERMAN SHARES slid 0.5 per cent in lethargic trading on Thursday. The 30-share DAX index closed 7.27 points lower at 1,614.42, above the intraday low of 1,609.93. Traders said some concern about a sharp jump in German inflation in key western German states had soured the market's mood earlier.
        225 words
      • Article
        Untitled
        88 13 INDICES TURNOVER NEW YORK Clow Pwiow Julv 25 Dow Jones NYSE Financial S& P 500 Turnover (million) 2.980.10 2.966 23 +13 87 152.50 151.96 0.54 380.96 378.64 +2.32 145.8 159 4 -13.6 LONDON Financial Times 30 FTSF 100 Turnover (million) 1.996.6 2.579.6 506.3 1.999 3 2.580.5 469 7 -2.7 -0.9
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      • Article
        PARIS
        210 13 THE PARIS bourse ended at its highest for just over a month on Thursday, boosted by selective buying. The CAC-40 Index added 1.94 points to 1,780.01 with a slender 1.3 billion francs traded. The last time the CAC-40 ended higher was its June 21 close at 1,806.63. The market
        210 words
      • Article
        AMSTERDAM
        265 13 LIVELY TRADED Philips hit a new 1991 high on an otherwise easier and dull Dutch bourse on Thursday. Shares in the electronics group rose 0.60 guilders to 33.30. after earlier hitting a new 1991 high of 33.40 guilders. Traders said Philips was still benefiting from Tuesday's news that it
        265 words
      • Article
        STOCKHOLM
        78 13 THE STOCKHOLM bourse closed lower for the seventh consecutive day on Thursday, partly on weaker markets abroad, but shares recovered some of their losses in late trade. Market interest was focused in Ericsson shares after a brokerage downgraded its profit forecast on the firm. The bourse general index closed
        78 words
      • Article
        MILAN
        155 13 ITALIAN SHARES opened weaker on Thursday in dismal trading volumes under Wednesday's 100 billion lire, as the few remaining investors took to the sidelines. "Worries about the economy and the political situation have been encouraging people to remain inactive," said one broker. "Very little is being done and prices
        155 words
      • Article
        BRUSSELS
        179 13 BELGIAN SHARES closed lower on Thursday for the eighth consecutive session, under pressure from higher inflation figures, weaker foreign bourses and the typical summer slowdown, dealers said. The key Bel 20 index of leading shares lost 5.16 points to 1,128.95. Trading volume was higher than previous days and 818
        179 words
      • Article
        ZURICH
        254 13 SWISS SHARES ended on a dull note on Thursday. Dealers said the market was without direction and there were no new factors to move prices. The All-Share SPI Index, which had fluctuated in a narrow four-point range. eased 0.3 of a point to 1,121.1. The SMI Index of leading
        254 words
      • Article
        JOHANNESBURG
        387 13 THE JOHANNESBURG stock market lost further ground on Thursday. The JSE All-Gold Index dropped further to end the day at 1,284 after Wednesday's weak 1,319 close while the Industrial Index closed lower at 3,929 following Wednesday's fall to 3,961. The All-Share Index slid further to 3,380 after Wednesday's plunge
        387 words
      • Article
        TORONTO
        262 13 TORONTO STOCKS ended marginally higher in moderate trade on Thursday, with little fresh news on which to trade, dealers said. The market moved slightly higher in early action, following US bonds higher as US economic data suggested a sluggish recovery in the US economy. US jobless claims for the
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      • Article
        Untitled
        34 13 Vienna TZ Z EXcmjSrfi':;:;:;;;;: Jungbunzl Laenderbank (Pref.. Unc^ Lenzing """no* Leykam 477 J Montana unc *> Ocstcrr Bniu a *wv\ Scmpcrit f?7 u,| ch Steyr '01 .3 Veitschcr.... t c 570 -2 Source: Austrian Laenderbank
        34 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      60 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
      60 words
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  • CURRENCY
    • Article
      US$ lower in Tokyo on fears of central bank intervention
      1191 14 REPORTS REKINDLED fears of intervention in Tokyo, coupled with active Japanese investor selling, put a short-term lid on the dollar yesterday, pushing it to close mostly lower. "Yen-selling factors such as local financial scandals should continue to hurt the yen.
      1,191 words
    • Article
      INTERBANK FOREX RATES
      402 14 Cross rates July 26 USS S$ MS Dm Yen SFr AS NTS USS 1.7540 2.7870 1.7555 138 40 0.5%3 1.5290 1.2979 1.7590 S$ 0.5701 1.5889 1.0009 0.7891 0.3400 0.8717 0.7399 1.0029 MS 0.3588 62.94 0.6299 0.4966 0.2140 0.5486 0.4657 0.6311 Dm 0.5696 0.9991 1.5876 78.84 0.3397 0.8710
      402 words
    • Article
      MONEY MARKET
      530 14 Interbank rates S$ Bid Offer Overnight 5 1/8 5 1/4 1-month 5 1/2 5 5/8 2-month 5 1/2 5 5/8 3-month 5 9/16 5 11/16 Overnight mode: 4-7/8 ISS Bid Offer 7 days 5 7/8 6 1 month 5 7/8 6 2 months 5 15/16 6 1/16 3
      530 words
    • Article
      Lock icon £ seen trading in narrow range
      196 14 seen trading in narrow range Reuter LONDON Sterling will be locked in a relatively narrow range during the rest of the summer, with opinion polls favouring the ruling Conservatives and bullish inflation data lending support, analysts say. Recent signs that the recession is bottoming out and better opinion poll results
      Reuter  -  196 words
    • Article
      Lock icon Non-AAA Aussie companies return to bond market
      501 14 Reuter SYDNEY Companies rated below AAA are returning to favour in the Australian bond market as investors reassess the risk of lesserquality issuers, analysts said. They said the value of Australian corporate bond issues in calendar 1991 should exceed 1990's level of A
      Reuter  -  501 words
    • Article
      FINANCIAL FUTURES
      1067 14 SIMEX EURODOLLAR Open High Low Sett Est Vol Op/lnt Vol Sep 91 93.81 93.82 93.80 9181 4492 ***** 2M5 Dec 91 93.31 93.33 93.29 93.32 7500 ***** 5184 Mar 92 93.27 93.30 93.26 93.28 2930 ***** 1870 Jun 92 92.86 92.90 92.86 92.88 700 1971 254 Sep 92
      1,067 words
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  • COMMODITIES
    • Article
      Palm oil likely to set new record highs this year
      393 15  -  By Shoeb Kagda RUMOURS of large orders from several consuming countries and speculators entering the market in the last week brought crude palm oil (CPO) prices within flirting distance of the Ms9oo per tonne mark for the first time since
      393 words
    • Article
      Lock icon Return of two key buyers lifts Sri Lankan tea prices
      321 15 Reuter COLOMBO The longawaited return of Sri Lanka's biggest tea buyers Egypt and Iraq to the Colombo auction this week lifted tea prices, brokers said. Prices were expected to spiral further in coming weeks with the return of the two
      Reuter  -  321 words
    • Article
      Gold ends higher in quiet HK trading
      818 15 REPORTS HONGKONG: Gold closed higher in quiet and choppy two-way trading. Silver and platinum prices movement continued to set the trend, dealers said. "Early overseas speculative buying and short-cover-ing pushed gold to a day high of U*****.50/$366.00 before Japanese investors sold gold and
      818 words
  • Article
    PRICES
    1424 15 Rubber July 26 RA3 (fob w bafo«) S cents/kg Noon Close Int I RSS Prompt 14I.75/I42.75N 14I.50/142.50N Int I RSS Aug 91 142.75/143.25 142.50/143 00 Int 1 RSS Sep 144.75/145.25 144.50/145 00 Int 2 RSS OP I42.00/I44.00N 141.50/143 50N Int 3 RSS OP 140.00/142.00N 139.50/141.50N Int 4 RSS OP
    1,424 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      11 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page
      11 words
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      Page 15 Advertisements Column 2
      792 15 BUSINESS TIMES TELEPHONE: 730-5771/3772/3773 FAX: 734-49»2 la the Matter W Ikr ('•mpasta* Act, Cap. M M la Ike Matter «f TIARA HOLIDAYS PTK LTD (la Mem ben* ValaaUry IJqaMattoa) At an Extraordinary General Meeting of the abovenamed Company duly convened and held at 336 Smith Street *06-308 New Bridge Centre
      792 words
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      Page 15 Advertisements Column 3
      748 15 IN THE MATTER OF THE COMPANIES ACT. CAP 50 ANO IN THE MATTER OF FONG YUEN (PTE) LTD (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN that pursuant to Section 308 ot the Companies Act. Cap 50 a final meeting of the members of the abovenamed company will be held
      748 words
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  • Article
    Du Pont to maintain its Asia-Pac investments
    464 16  -  Cost-cutting expected to hit mainly US operations By Genevieve Cua AMERICAN chemicals giant Du Pont's mammoth investments in the Asia Pacific will proceed on schedule despite a sweeping cost-cutting exercise by its headquarters in Wilmington, Delaware. Hit by the worldwide downturn in the
    464 words
  • Article
    SCS revenue growing at 25pc yearly
    258 16  -  By Carolyn Lim SINGAPORE COMPUTER Systems (SCS), which is expected to launch its initial public offer in September, has been experiencing a growth rate of over 25 per cent a year in its revenue. Revenue last year was some $120 million, said SCS managing
    258 words
  • Article
    Sikh temple liable, not NZI: Commissioner
    265 16  -  Workmen's compensation dispute By Chew Eng Han THE Commissioner for Labour has ruled in favour of NZI Insurance and held the Central Sikh Temple liable for a workmen's compensation (WC) claim. Delivering his judgment, Mr Saijit Singh said: "It is the duty of the
    265 words
  • Article, Illustration
    Shiprepair prospects depend on Subic base ratification
    401 16  -  By Selva Kumar PROSPECTS for local shipyards to regularly repair and maintain US Navy ships calling here will depend on whether the recent agreement on the Subic Naval Base is ratified. Disclosing this yesterday, Admiral Charles R Larson, the Commander in Chief of
    401 words
  • Article
    Govt ready to lead way for Chinese Mendaki
    228 16 IF THE Chinese community does not come forward to support the plan for a Chinese Mendaki, then the government nill have to spearhead the move, said Prime Minister Goh Chok Tong last night. He was responding to questions from the floor at
    228 words
  • Article
    Lock icon US urges Japan to equalise auto trade
    541 16 Move essential to correct overall trade imbalance, says official AP TOKYO Japan and the United States must find ways to equalise their lop-sided auto trade if they hope to improve their overall trade imbalance, a senior US official said on Friday. Trade in
    AP  -  541 words
  • Article, Illustration
    Through the Bali Gates
    201 16 PRESIDENT Wee Kim Wee arrived by special presidential jet in Bali yesterday afternoon on the second leg of his five-day state visit to Indonesia. He was welcomed at the airport by the Governor of Bali and his wife Mrs Ida Bagus Oka as well as the
    201 words
  • Article
    Lock icon Japan records sharpest fall in industrial output in five years
    386 16 AFP TOKYO Japan's industrial production in June plunged 2.7 per cent from the previous month, effectively 1 the sharpest decline in almost five years, the Ministry of International Trade and Industry (Miti) said yesterday. The Economic Planning Agency (EPA) announced
    AFP  -  386 words
  • Article
    Lock icon Hongkong posts HK$4b surplus
    191 16 Reuter HONGKONG Hongkong's budget surplus for the financial year ended March 31 stood at HK$4 billion (SS9O4 million), well above a revised government estimate of HK$ 150 million, a spokesman for the Finance Branch said in a statement yesterday. The surplus, which stems mainly from budget
    Reuter  -  191 words
  • Article
    Lock icon HK's GDP will grow 3.3pc: Hang Seng Bank
    183 16 Reuter HONGKONG Hongkong's real gross domestic product will grow 3.3 per cent this year against an earlier forecast of 2.5 per cent and 2.4 per cent in 1990, reflecting reduced local and international uncertainties, the Hang Seng Bank said yesterday. Two domestic
    Reuter  -  183 words
  • Article
    Lock icon Tokyo sees no change in Soviet threat
    198 16 Reuter TOKYO Japan blames a growth in Soviet military capabilities in Asia for continued uncertainty over regional security issues, the government's annual defence report said yesterday. "The Soviet Far East forces have continued to decrease their numerical strength but have continued to steadfastly
    Reuter  -  198 words
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  • Executive Lifestyle
    • Article, Illustration
      Time to take a break, mate
      1265 17  -  It's midnight. Are you still at work? If your desk is your bed and a cup of coffee is your mate, stop. Salii Tripathi suggests reading this before tackling your next report Salil Tripathi IF AFTER reading this one paragraph of a long article
      1,265 words
    • STRAWS IN THE WIND
      • Article
        Colleague in a stew
        97 17 A COLLEAGUE who'd gone to Raffles City for lunch one day panicked slightly when he saw three policemen milling near one of the restaurants and a security guard a distance away. With the recent jewellery heist there in his mind, the colleague found himself staring involuntarily
        97 words
      • Article
        All thumbs, no takers
        73 17 DEMI MOORE may be raising eyebrows with her nude photos in the latest issue of Vanity Fair magazine, but she may not necessarily be raising sales. At a magazine stand in the Straits Trading Building, the sole copy of Vanity Fair stood there unsold, but nonetheless
        73 words
      • Article
        Ad-lib
        73 17 SOME people have a funny way of seeing things. A reporter who called up a cinema distributor to check on the screening times of a movie that was supposed to open the next day was told that the movie would be delayed by a few days. When she asked
        73 words
    • OPINIONS
      • Article
        Why too many Mendakis could be divisive
        714 18  -  Should Indian Muslims contribute to Mendaki or Sinda? Said Abdullah examines the dilemma facing the Indian Muslim community Said Abdullah The writer, a BT journalist, is an Indian Muslim IT WAS inevitable: all the talk of hav ing a "Mendaki" for each major
        714 words
      • Article
        India: now open for business
        897 18  -  Salil Tripathi on the unshackling of the Indian economy Salil Tripathi The writer is a BT journalist AFTER EIGHTEEN long years India has lobbed the ball back to the court of multinational firms with its path-breaking industrial policy announced in the Indian Parliament on Wednesday.
        897 words
      • Article, Illustration
        Time for Japan to say sorry
        901 18  -  Tye Kim Khiat explains why it is necessary for Japan to admit to its war-time atrocities and show contrition Tye Kim Khiat The writer is a Melbournebased journalist JAPAN deserves unmitigated odium for its untiring attempts to wipe the slate clean over its war-time
        901 words
      • Article
        What listenership figures show
        215 18  -  LETTERS TO THE EDITOR ours sincerely Karen Ng Head (Artiste Programme Promotions) Public Relations Division Singapore Broadcasting Corporation THE ARTICLE on radio listenership figures (BT, July 18) requires some clarification which SBC is pleased to supply. The latest survey (more recent than the data quoted in
        215 words
      • Article
        Blue Canyon Golf & Country Club was first
        129 18  - Blue Canyon Golf Country Club was first Ronnie Lum THE article on "Phuket out to woo Singapore golfers" (BT, July Ist) gives the impression that the Phuket Century Country Club (PCCC) is the first Thai club to woo Singapore golfers. This is not so. The first golf club from Thailand
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    • LIFESTYLE 1
      • Article, Illustration
        Spiky sounds and a searing soliloquy
        625 19  -  CD Review By RINGO LIEW LENNY KRAVITZ: Mama Said From his chest-hugging flowery shirt to his striped flares, Lenny Kravitz exudes not just the look but also the attitude of rock in the heady days of the sixties. And those who thought his earlier
        625 words
      • Article, Illustration
        Unravelling the mystery of Mikhail Gorbachev
        714 19 Why Gorbachev Happened: His Triumphs and His Failure By Robert G Kaiser Simon and Schuster 458 pages, $29.95 Reviewed by Salil Tripathi The trouble with books which analyse current affairs by placing them in a historical context even as the events are unfolding is
        714 words
      • Article, Illustration
        There's a sucker born every minute, chickadee
        687 21  -  Introducing Lifestyle's new regular column that looks at life from a slightly skewed angle. SAY Pssst. Wanna make a fast buck? Jaime Ee tells you how to turn something as innocuous as car vandals, video surgery, killer dogs and Demi Moore into potential
        687 words
      • Article, Illustration
        Fine wines with that sparkle
        890 21  -  N K Yong tries out some new arrivals N K Yong A MIXED BAG of recent arrivals tasted recently showed some very good quality wines at affordable prices, reiterating again that fine wine need not be expensive. First of all, a couple of Germans from
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      • Article, Illustration
        Debacle at the Wee Memorial Trophy meet
        294 21  -  BRIDGE By Sybil Holloway During the wee Memorial Trophy Teams event played this year, our team lost a total of 690 points on the deal below. West led the SlO to East's queen and South's king. Declarer then led a small heart to
        294 words
    • EPICURE
      • Article
        Tick five
        540 20  -  Quek Swee Peng tries out Meisen's tailor-made menu Quek Swee Peng IT SOUNDS easy enough. Pick five from a shortlist. Any five. However, the problem with eating Sichuan or whatever food which you have not eaten for some time is the insatiable desire for everything. Suddenly, everything on
        540 words
    • SPORTS
      • SIDE LINES
        • Article
          Lim Kian Tiong leads with impressive 132
          226 22 SINGAPORE "It was a tough day out there," said Samson Oimson. "Thirty-six holes in one day is a lot Quite strenuous." Lim Kian Tiong stuck it out, though, walking into tlj£ 19th hole at Changi Golf Club victorious after the first leg of
          226 words
        • Article
          McEnroe beaten by Rostagno
          112 22 MONTREAL John McEnroe's recent problems continues! on Thursday when he was upset in three sets by fellow American Derrick Rostagno in the third round of the Canadian Open. McEnroe, who lost at the same stage last week in Washington, was beaten 6-2, 1-6, 7-6 (7/5) in
          112 words
        • Article
          Langer in the lead
          55 22 NOORDWIJK, Netherlands Bernhard Langer of Germany hit ten birdies to emerge the leader after Wednesday's first round in the Heineken Dutch Open golf tournament. Langer, ranked 12th in the European PGA tour, finished at a 9-under-par 63. He bogied the par-4 eighth hole to finish 3
          55 words
        • Article
          Senna calls for safety changes
          67 22 HOCKENHEIM, Germany Formula One world champion Ayrton Senna on Thursday called for safety changes at the first chicane of the Hockenheim race circuit where he survived a 300 kph crash in testing last week. Senna, arriving for this weekend's German Grand Prix, said he wanted
          67 words
        • Article
          Auriol still ahead
          58 22 CORDOBA, Argentina French driver Didier Auriol maintained his lead on the second day of the Argentina on Thursday as world champion Carlos Sainz turned on-the heat. Auriol ended the second stage with an overall lead of 49sec from another Lancia Delta driver, Massimo Biasion of Italy, with
          58 words
      • Article
        Lock icon Indurain still in the lead
        162 22 Tour de France AP AIX LES BAINS, France Dmitri Konyshev of the Soviet Union won the 19th stage of the Tour de France on Thursday, while Miguel Indurain held onto the overall lead for the seventh straight day. Konyshev finished just ahead of Pascal Richard
        AP  -  162 words
      • Article, Illustration
        Lock icon Hallett leads Greater Hartford Open with 64
        538 22 AP CROMWELL, Connecticut Jim Hallett, armed with some chipping advice from his father, shot a 6-un-der-par 64 on Thursday to take the first-round lead at the Greater Hartford Open. "I worked with my dad on my short game and it seemed to help,"
        AP  -  538 words
      • Article
        Lock icon Pan American games open
        264 22 UPI HAVANA With 5,000 athletes on hand and all of Latin America watching, Cuba opened the 11th Pan American games yesterday, the biggest sports event ever to come to the island. "We have been anticipating this event for four years," Juan Humberto Licon, a sports reporter
        UPI  -  264 words
      • Article
        Lock icon Baker-Finch: not just the other Aussie
        515 22 AP CROMWELL, Connecticut With the British Open title under his belt, lan BakerFinch believes he's ready to win some more titles and shed another being known as "the other Aussie" Earlier this week BakerFinch said that while he respects the accomplishments of fellow Australian
        AP  -  515 words
      • Article
        Lock icon Two crack par at Oakland Hills
        623 22 AP BIRMINGHAM, Michigan Ben Hogan was right. Oakland Hills is a monster. "I brought the monster to its knees," Hogan said after winning the 1951 US Open on the famed old course in the Detroit suburbs. And in the 40 years that have passed
        AP  -  623 words
      • Article, Illustration
        Lock icon The Shelby Futch Golf Instruction Series
        134 22 THE SHANK a a r-,,, tU :t t tc a soui lo up a direct flight to the right, most likely into the 08. Diagnosis: The club face strikes the ball from outside the arc. Point of contact is actually the neck of the
        Photos by Chris Loh  -  134 words
    • PURSUITS
      • Article, Illustration
        Legend has it...
        885 23 A four-wheeled vehicle caused a bit of a stir at the Tanah Merah Country Club last Wednesday. But no, it wasn't a runaway golf cart, as Samuel Ee discovered. It was the new Honda Legend. Here, he examines the car and speaks to one of the people
        885 words
      • Article, Illustration
        Lock icon If you can't throw it, finish it
        763 23  -  You have a hall that needs painting and an old chair that you're ashamed of. Jesse Boone speaks to a lady who breathes life into walls and gives you new reason for sitting Jesse Boone THERE'S an old chair in my house that's
        Photo by Arthur Lee  -  763 words
      • Article, Illustration
        Honda's American in Tokyo
        330 23 GENE KELLY was Hollywood's American in Paris but Stephen Keeney is Honda's American in Tokyo. Mr Keeney, who was in Singapore last week for the launch of the Legend, is in charge of Honda Japan's Asia and Oceania Division. Being American and not being able to
        330 words
      • Article, Illustration
        Cat tales from Kuching
        820 23  -  Nirmal Ghosh strays into feline territoiy Nirmal Ghosh NO-ONE knows how Kuching came to be called Kuching. But Kuching it is. Kuching (or Kucing) is of course Malay for Cat. This happy fact has led to a cat gallery in the famous Sarawak Museum there. It
        820 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          He's a jolly good fellow
          163 24  -  Compiled by Lee Han Shih FRIENDS, fellow shareholders of Singapore Airlines, countrymen, lend me your ears. I come to bury Mr Lim Chin Beng, not to praise him Though burying SlA's deputy chairman was obviously not the intention of Davinder Singh, it did for a
          163 words
        • Article
          In search of a real bonus
          105 24 IF THERE is one thing that can irritate the unflappable J Y Pillay, it is the question of whether SIA is making a bonus issue. "This is the third time I am saying this," he said at the recent AGM, visibly exasperated. "A bonus
          105 words
      • Article, Illustration
        Gold has lost its shine, or has it?
        397 24  -  One of the most attractive things about gold these days is that so few people like it. Shoeb Kagda reports Shoeb Kagda ALMOST unanimously, financial analysts around the world are shaking their heads when asked about gold. The yellow metal, it seems,
        397 words
      • Article
        The choice sectors
        1229 24  -  Casting his eyes across the Causeway, Chew Eng Han presents the highlights of the Sixth Malaysia Flan and reports on the sectors and stocks that are worth looking at Chew Eng Han For investors prepared to look beyond the current unease over insider-trading investigations across the Causeway,
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      • Article
        Projections for Sixth Malaysia Plan
        157 24 GDP and Income: Real GNP to grow at 7.5% per annum (6.7% under Fifth Malaysia Plan). Per capita income to rise to M$ 10,200 (556.400) in 1995 from M 56,202 in 1990. Manufacturing, construction and services sectors to lead with growth of 11.5%, 8.0% and
        157 words
      • Article
        Three quiet performers
        437 24 STOCK FORGET the glamour stocks, says Peter Lynch, stockpicker extraordinaire of the Fidelity Fund fame. Instead go for companies that produce stuff that others have to keep buying from. Like razor blades, he suggests. We did just that. Below we pick three firms that produce quite bland,
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      • Article, Illustration
        Cyclical bull run may start soon
        546 24  -  CHART By Goh Hiang Fong Goh Hiang Fong is head of research of Lum Chang Securities Pte Ltd BUT for a 35.52-point spurt of the Straits Times Industrials Index (STII) on high volumes on Monday, the rest of the week traded within a narrow
        546 words
      • Article, Illustration
        The US economy is bouncing back but..
        1092 25  -  The recovery is tortuously slow but that is not necessarily a bad thing, says Salil Tripathi Salil Tripathi IT HAS arrived sooner than expected. But it is taking longer than on any previous occasion. The present American economic recovery is unique in many
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      • Article
        Home insurance — don't leave home without it
        924 25  - Home insurance don't leave home without it Kooi Cho Teng checks out the various packages on the market Kooi Cho Teng MOST people take their entire working life to pay off their home mortgages but yet. when it comes to protecting their prized possession, they prefer to leave them to
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    • JOBS
      • Article, Illustration
        Lock icon The emperor's new title
        1060 26  -  The publisher who introduced Playboy to Hongkong now wants to walk the straight and narrow path to a global publishing network. Sylvia Wong profiles Albert Cheng, editor and publisher of Capital Communications Sylvia Wong WESTERN publishers may have the lion's share of the publishing market, but
        Photo by Arthur Lee  -  1,060 words
      • Article
        Lock icon Big brother may have to tell his workers that he's watching
        261 26 UPI Employers say it keeps telephone company workers and reservation agents from being rude to customers. Workers say it turns their workplace into an electronic sweatshop, as they constantly worry whether the big brother breathing down their back is
        UPI  -  261 words
      • Article, Illustration
        EXECUTIVE MOVES
        326 26 Mr Gregon Peter Miller has been appointed Chief Executive Officer/director for its operations in Singapore of Wardley Investment Services Limited (WISL), the investment management arm of the HSBC Group (HongkongBank Group). He replaces Mr John Quinn. who leaves the Singapore office to take up a new appointment in
        326 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1148 27 nigfct ETA F1HM ETD Cta EMstt DA FMxfel HP itaUJtaM GA89Q QQ5Q MH631 16.0 *<QF81 1820 SQ227 2200 MH/SQ671 1800 MH643 1730 ~t~; MH671 1800 SQ114 1745 j 11 Bilfla 0030 SQ113 1805 SQ116 1845 Amsterdam SQI9 0755 SQ24 0100 MH613 1850 MH614 1850 KL837 1255
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    • THE TRAVEL PAGE
      • Article, Illustration
        A passage through Hellenic country
        659 27  -  POSTCARD FROM GREECE By Tim Burt Landslides and boulders are just two of the hazards which impede the Diakofto Kalavrita rail service. Other problems vary according to season. In winter, snow and ice make the going treacherous. In summer, tractors with cart-loads of lemons sometimes
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      • Article
        MONEY CHANGER RATES
        152 27 As at 3pm yesterday: Ijocal dollars to one unit of foreign currency Currencies Bid Offer Australian dollar I.34S 1.37S Canadian dollar 1.507 1.537 NZ dollar 0.9900 1.020 Sterling pound 2.925 2.955 US dollar 1.7460 1.7560 l>ocal dollars to 100 units of foreign currency Austrian schilling 14.00 15.00
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      • Article
        WORLD TRADE EXHIBITIONS
        149 27 Duration Title Venue Organiser Tel Duration Title Venue Organiser Tel Aug 6-9 IV Jewellery Buenos Aires. Rossi Heinlein $*****-9413 Exhibition Jaartwurs International Argentina Asociados SA Aug 24-27 International Germany OfTenbacher ********** Exhibition Leather Goods MessegesellschAug 18-20 International Germany Mode Woche- *****1990 Fair GmbH fashion Fair Munchcn GmbH
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    • TIME OFF
      • Article
        THEATRE
        150 28 British Film Festival The eighth year of showcasing the best of British films. All the films are contemporary and many are in fact debut Films by up-and-coming British film directors. Hope Glory and Stormy Monday will be screened on Saturday, July 27. The Witches and Doombeach on Tuesday, July
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      • Article, Illustration
        EXHIBITIONS
        281 28  -  Compiled by K Jayanti Selected Oil Paintings by Xu Jiachang Various oil paintings by Xu Jiachang will be on display. Orchard Point Exhibition Hall. *03-18. On till July 30. I lam-Bpm. Watercolour Painting Exhibition Featuring 80 works by two renowned artists from China Wu Fang Gu and Zeng Song
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    • Article, Illustration
      CINEMA
      705 28 Atame! Tie me up or tie me down. Doesn't really matter, I'm not doing much anyway. A loonie abducts a porn star (maybe not so loonie, he could have kidnapped a head of lettuce) and tries to convince her that there's more to a rope than skipping with it.
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      180 17 ***** 24-hour 'Loan Information Service A Approval' X MK. 3:3 4 3 5 8 8 33 4 36 8 8 The rare perfection of Patek Philippe at The Hour Glass. should quisite features that hallmark he a relaxed and comfortable Jr our Especially when you're collection. After all. we see
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      Page 18 Miscellaneous Column 1
      62 18 DOONESBURY by garry trudeau UJANTME TO EiTHER J DCN7VOUUJMT TO BCUEVE ME, MOM, I I m$H XXJK THAT OP tUEAR IT TONIGHT* THE LAST THING A UJANNA 60 rfP UNIFORM, BURN TT, YOUR UNCLE HENRY'S you WT UJAMSTO U/EAR TO A MOVIE BD. M HONEY 1 MOM... COMING OVER.. KJPPNfr
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      88 19 Wfii^Hl^^ J b^h COOL. COOLER. For around 400,000 dollars less than a Porsche 911, you can acquire something much cooler. The Electrolux niiniCool. Totally noiseless. Available in black, white, grey or brown, to complement the decor in your office or in your living room or bedroom at home. To order
      88 words
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      222 20 WHEBE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO S.CX) PM. HAPPY HOUR fit DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. IV
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      Page 20 Advertisements Column 2
      342 20 ■n PLUM'S ******************** l \l»laysian Food IVslival Make your choice from the tempting array of Malaysian delights presented to you a la hawker style. Give your taste-buds a treat and send them to heaven with Plum's Malaysian Food Festival. There're even souvenirs for you to take home and return air
      342 words
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      Page 20 Advertisements Column 3
      350 20 Why worry about breakfast or lunch on f Enjoy a lazy Sunday morning? Come down The Finest or y° ur w^°'e family and f C it feast on a delectable spread of hot LantOnCSC Thai dishes, soups, appetizers and Buffet Brunch desserts, all prepared to I s In Town (ft
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      Page 20 Advertisements Column 4
      260 20 PERFORMED DAILY AT ~/2 THE PINE COURT Amidst Imperial splendour, our chefs /('Mrf' StagC the r ht B h, y accla me<l performance legendary Beijing cuisine to the satis- <1. '-ml n faction of demanding diners To guarantee r» your place amongst the discerning, make I your reservations early '<
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  • Page 20 Miscellaneous
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      249 21 AND ENTERTAIN Family Fun Brunch Make it a family outing with a scrumptious Sunday buffet brunch at Hubertus Grill. A whole array of choice delicacies for adults. Cartoons, toys and fun for the kids. Adults $31 -l- Kids $19+ ANA HOTEL SINGAPORE 11 Kil l ii m I I i:
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      Page 21 Advertisements Column 2
      94 21 R|> I BEEF DAY AT NISHIKI Wkd p Bfll n "Niku" in Japanese means meat, at the same time it also means "Two-Nine". On this '"same note, on every 29th of the month will be "Beef Day" at NISHIKI. You can now m enjoy a selection of beef dishes at
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      Page 25 Advertisements Column 1
      245 25 BIG SAVINGS Save money everytime you spend it An exclusive offer for Hong Leon# Finance and Singapore Finance Customers Bt t% jV J fafl Singapore Finance Personal *p* Customer Services, get m V a Farentino atch s i J 2028 SY AM) a \I7 J Remy Martin XO II y
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      369 26 BUSINESS TIMES TELEPHONE: 730-5937/5902/5942 FAX: 734-4982 STOCKBROKING We are stockbrokers with full membership to the Stock Southeast Asian Exchange of Singapore. Equities are now preparing to expand and broaden our existing operations to cover research and distribution of other Southeast Asian equities to international institutions. We would like to invite
      369 words
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      Page 26 Advertisements Column 2
      160 26 DHL IN THE NEWS Advertisement DHLS PLANNED DISTRIBUTION STREAMLINES DELIVERIES DHL has gone beyond own warehousing facility. On speed parts and materials just meeting the urgent delivery another level, DHL can provide direct from just one central needs of business, and is companies with a break-bulk warehouse actually helping companies
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      Page 27 Advertisements Column 1
      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 Kurope from start to Finnish
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      Page 27 Advertisements Column 2
      8 27 WEEKLY OVERSEAS EDITION £b Subscribe now. Call 740-1840/1.
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      Page 27 Advertisements Column 3
      114 27 HOW TO j7"i li ii\ Bl From as little as $152 an advertisement 1 1 a. A seperate tabloid section distributed with The Straits Times every Thursday in the city and T m adjacent districts. m I 111 A concentrated area where I I I I J people live, work
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  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      211 27 9 Place where one might ic about this performer 11 Six turned up with three removed I put by bed (7) 23 Man coming back from |ar p|acc (4) round 24 Dunna 'thc duel open l oyalist Paddy puts 26 Leafy plant right in the fire and run away' <5)
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      155 27 Asia-Pacific Hi/lx>* Cond. Auckland 15/10 Showers Bangkok 31/25 Showers Beijing 33/23 Clear Brunei 32/25 Showers Hongkong 30/26 Cloudy Jakarta 32/24 Fair Kuala Lumpur 31/24 Fair Manila 29/24 Rain Melbourne unav Perth 11/07 Rain Seoul 24/20 Fair Sydney 15/07 Clear Taipei 34/27 Fair Tokyo 36/27 Gear Wellington unav Kurope Hi/I-o* Cond.
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      26 27 LlLlW.MiS&Bgyi C VSFFP CALM ftpl«n?s.s UF STOP daydreaming WAD GET ON WITH y W^TZSSEP. woor work, you oood-for-notm»^^ mi /jTv 8477 EVEWIWO tTAWOAWO CO. LTD.. IW2-Htl <=***-
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      1746 28 TODAY'S TV ■HaHHBaiBaHH Life. We meet aristocrat 10.00 The Bugs Bunny Show. Iturned businessman Lord 10.30 The Hello Spencer Show. HAMtfHIHHIHB Brockett. John 10.55 Religious Programme. the first one in his Scot 11.00 Under the Umbrella Tree. Kettiui Ma Pergi, 3pm, SBC 5 China's Most*, 3.30pm, SBC 8 family to
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      514 28 Song of the Spring Pony, Won, Ganashatru, Wed, 10.30pm, 10.30pm, SBC 12 SBC 12 An old Japanese man with a Set in a small Bengalese town grudge against the world that before the advent of the took his father and son in green movement, a doctor two world wars and
      514 words