The Business Times, 18 April 1992

Total Pages: 18
1 18 The Business Times
  • 18 1 BUSINESS TIMES lIIE HI 'SIXESS PAPER EOR S-E ASIA MITA (P) 35/12/91 Weekend Edition. April 18-19 1992 75*
    18 words
  • NEWS & MARKETS SUMMARY
    • 68 1 WASHINGTON Construction of new homes and apartments climbed a surprising 6.4 per cent in March to the highest level in two years, the US government said yesterday. The Commerce Department said builders started construction on single-family homes and apartments at a seasonally adjusted annual
      68 words
    • 80 1 KUALA LUMPUR Many Malaysians working illegally abroad are reluctant to return home as they fear their passports will be impounded on their return by the immigration authorities, a Malaysian Chinese Association official said. Michael Chong, head of the party's Services and
      80 words
    • 26 1 KUALA Lumpur-listed Lion Group is investing about MssB million (5537.7 million) in six previously dormant companies to manufacture personal computers Page 2
      26 words
    • 40 1 TEXCHEM Corporation Ltd of Japan, having captured the local mosquito coil market, plans to list its trading arm Texchem Trading Sdn Bhd and Fumakilla (M) Bhd on the Kuala Lumpur Stock Exchange within two years Page 2
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    • 32 1 BANKAmerica Corp has reported that its first-quarter earnings rose to US$3O3 million (*****.22 million), while its merger partner, Security Pacific Corp, reported a loss of US$496 million Page 3
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    • 40 1 THAILAND is reeling from one of the worst droughts in its history, threatening widespread destruction of crucial crops and livestock. It has been a sad, but worst of all dry, Songkran throughout the rural north-east Page 4
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    • 35 1 UNITED STATES steelmakers cast a cloud over strained transatlantic trading relations with a complaint this week to their government that European Community exporters were dumping their wares on the world market Page 9
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    • 37 1 THE markets in the following countries were closed yesterday for Good Friday: Australia, Canada, France, Germany, Hongkong, India, Indonesia, The Netherlands, New Zealand, the Philippines, Singapore, South Africa, Sweden, Switzerland, the UK and the US.
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    • 20 1 Friday Change Kuala Lumpur ....575.75 -0.08 Tokyo 17.580.69 -379.07 Thursday Change New York 3,366.50 +12.74 London 2,638.6 -1.6
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    • 21 1 KL Tin Turnover 28 tonnes -12 Spot MSl4.5(Vkg unch Crude palm oil Turnover 854 lots -279 June MS905 /tonne -6
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  • 461 1  -  Group preparing personnel, infrastructure in main divisions From William Chia in JAKARTA THE Bimantara Citra Group, one of Indonesia's fastest growing conglomerates headed by President Suharto's second son Bambang Trihatmodjo, intends to list all its major operations. Company secretary Ahmad Fuad Afdhal told BT
    Source: Asiaweek  -  461 words
  • 216 1 Some 'unusually rich' politicians also given posts Reuter AP BANGKOK Thai Prime Minister General Suchinda Kraprayoon yesterday named Narong Wongwan, forced earlier to drop his bid to be premier after Washington revealed he was suspected of being involved in drug smuggling, as
    Reuter; AP  -  216 words
  • 109 1 AFP BANGKOK First-quarter figures show Thailand's economy set to reach 8 per cent growth this year, still strong but well below the double-dig-it boom of the 1980s, the Bank of Thailand said in a report yesterday. The country's trade deficit improved from January to March 1992,
    AFP  -  109 words
  • 277 1 Reuter WASHINGTON Federal Reserve chairman Alan Greenspan sought yesterday to calm fears that the stock market collapse in Japan will harm the US economy and create havoc in global financial markets. But the central bank chief told the Senate Banking Committee the
    Reuter  -  277 words
  • 381 1  -  By Genevieve Cua SINGAPORE The Batam Industrial Park (BIP), the showpiece of Singapore-Indo-nesian cooperation in the Growth Triangle, is expected to achieve its first profit this year, roughly two years after Japanese giant Sumitomo Electric Industries signed up as its first tenant.
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  • 129 1 Reuter TAIPEI Taiwan's Parliament passed a law yesterday legalising the employment of foreign workers. Under the law, Taiwanese will be able to hire foreign domestics, manual workers, language teachers and other professionals for up to two years plus an additional year if necessary. The law establishes
    Reuter  -  129 words
  • Page 1 Advertisements
    • 136 1 Nikon ThtWbiW'innm PhotognpHic tjcHin. COVER Junior's hard-earned lessons EL 1 w Aircraft Schedule EL 7 Bangkok Stocks t Commodities 9 Company News 2 Cryptic Crossword EL 7 Financial News 3 KLSE 5 Money Changer Rates EL 7 Regional News 4 Regional Stock Markets 7 Ships In Port 4 Sports EL
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    • 13 1 LETTERS H COEs for 1 older i vehicles. EL 2 I 1 4
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    • 265 1 PURSUITS ■■■H Underwater treasures from Sweden. EL 4 f x"" geometric forms. EL 4 Timeless values. The movement of a watch is dust, dirt and water. It provides Rolex Oysters have climbed its heart. Precious. Delicate. For a totally secure protection for the highest mountains, dived to centuries craftsmen have
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    • 15 1 FINANCE Investing for education. EL 5 US economy may do a triple dip. EL 5
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    • 33 1 Nikon TtwWbrtfsßnMt irj-fiptiTr Tiritim One more challenge V for Ashe. EL 6 |H %WV Recession poses h new hazards for |pL runners. EL 6 hKS, No import of finished Chinese goods, Back Pg
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • 65 2 KUALA LUMPUR Kumpulan Guthrie Bhd said yesterday that it will sign memoranda of understanding with several parties in Vietnam in eonjunction with Prime Minister Datuk Seri Dr Mahathir Mohamad's visit to the eountry soon. The projects are a joint venture to develop a
        65 words
      • 79 2 HONGKONG Citic Pacific has turned in a 146 per cent increase in taxed profit to HK5332.9 million for the year ended Dec 31. Earnings per share rose only 15 per cent to 72 cents from 62.5 cents because of the company's rapid expansion through a series
        79 words
      • 79 2 SEOUL The founder of South Korea's giant Hyundai Group yesterday warned the group would collapse this year if the government sustained its persecution campaign. Chung Ju Yung, leader of the opposition National Unification Party (UNP), has complained that tax investigations and credit squeezes on the company
        79 words
      • 134 2 TAIPEI Computer firms here are planning to buy an entire street in the Chinese city of Shanghai in a bid to set up a Taiwan computer and information product marketing centre in China. "We have discussed the possibility of setting up a computer and information marketing
        134 words
    • 75 2 IN THE ARTICLE, Luring investors and sun worshippers, which appeared in BT's Growth Triangle supplement on April 15, it was mentioned that only nine holes of Talvas Golf Country Club's golf course had been completed and no further work done, pending a company restructuring. BT has been
      75 words
    • 343 2 NYT NEW YORK Philip Morris Co said Thursday that its profits more than doubled from the quarter a year ago, when an accounting change reduced profits. Weakness in its North American food business was offset by strong growth in its international
      NYT  -  343 words
    • 561 2 TI has first profitable quarter since 1990 NYT Reuter SAN FRANCISCO Microsoft Corp on Thursday reported increased revenues and earnings for its third fiscal quarter, which ended March 31. It attributed the gains to strong sales through so-called original equipment manufacturers, or OEM's,
      NYT; Reuter  -  561 words
    • 504 2  -  By Joseph Rajendran SINGAPORE Kuala Lumpur-listed Lion Group is investing about MssB million (5537.2 million) in six previously dormant companies to manufacture personal computers (PCs). The six companies will each manufacture computer monitors, keyboards, casings, power supply equipment, plastic mouldings and assemble computers.
      504 words
    • 252 2 AFP BEIJING Chia Tai Group of Thailand has signed a US$2 billion (553.3 billion) contract with China to co-develop a huge section of Shanghai over a 50-year period. Company officials said yesterday that the three-phase project, dubbed "Fortune World", will convert
      AFP  -  252 words
    • 443 2 USs3oom factory will meet growing needs of textile industry JAKARTA Indonesia's PT Branta Mulia, one of Asia's major manufacturers and exporters of tyre cord, will team up with PT Polytamakarsa Agung to set up a purified terephthalic acid (PTA) plant, said the Jakarta Post. The
      443 words
    • 259 2 The Maxwell Muddle Reuter LONDON Almost 55 per cent of the share capital of the British national newspaper group owned by the late Robert Maxwell is pledged as collateral against loans to Maxwell's private companies, the group said yesterday. The Mirror Group Newspapers pic
      Reuter  -  259 words
    • 480 2 Reuter WARSAW The Warsaw Stock Exchange celebrated its first birthday on Thursday but the pop of champagne corks could not banish disappointment that Poland's economic difficulties have stunted its development. The market has expanded much more slowly than was planned when it was
      Reuter  -  480 words
    • 318 2 Bernama KUALA LUMPUR Texchem Corporation Ltd of Japan, having captured the local mosquito coil market, plans to list its trading arm Texchem Trading Sdn Bhd and Fumakilla (M) Bhd on the Kuala Lumpur Stock Exchange within two years. Speaking to
      Bernama  -  318 words

  • FINANCIAL NEWS
    • 397 3 Merger partner Security Pacific Corp posts USs496m loss Reuter SAN FRANCISCO Bank America Corp said on Thursday that its first-quarter earnings rose to US$3O3 million (*****.22 million), while its merger partner, Security Pacific Corp, reported a loss of nearly half a billion
      Reuter  -  397 words
    • 296 3 Reuter LONDON The Lloyd's of London insurance market said on Thursday it had won a key legal battle upholding the principle that members called upon to cover insurance claims must "pay now and sue later". The British High Court decision
      Reuter  -  296 words
    • 268 3  -  By Shoeb Kagda SINGAPORE Singapore will be one of the three Asian centres of the merged Chemical Bank and Manufacturers Hanover Trust Company when the merged bank starts operations in June. The holding companies of the two banks Chemical Banking
      268 words
    • 292 3 Reuter CHICAGO Executives sorting through the mess from the Chicago flood this week estimate a trading halt here soaked up as much as 20 per cent of April revenue at futures firms. The two futures exchanges forced to shut down earlier this
      Reuter  -  292 words
    • SMALL CHANGE
      • 95 3 HANOI VID-Public Bank, a 50-50 joint venture between the Vietnam Bank for Investment and Development and Malaysia's Public Bank, has been given a licence to operate in Vietnam, an official newspaper said yesterday. The bank is capitalised at US$lO million (5516.6
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      • 106 3 KUALA LUMPUR Malaysia's Bank Buruh Bhd said inter-bank interest rates will stay firm in line with the central bank's tight monetary policy. "We expect one to 12 months Kuala Lumpur Inter-Bank Offer Rates (Klibor) to trade within a range of 8.0 to 8.5 per
        106 words
      • 60 3 AMSTERDAM ABN Amro Holding NV. wary of alienating its customers, said it will not introduce fees this year on private clients. ABN Amro, the biggest Dutch bank, will step up publicity efforts aimed at encouraging customers to use the most efficient payment methods.
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      • 54 3 AMSTERDAM Changes in accounting methods were largely responsible for a 4.2 per cent net profit gain at banking and insurance group Internationale Nederlanden Groep NV (ING) said. The accounting changes boosted 1991 net profit by 56 million guilders (5549.6 million), board member Aad Jacobs said
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      • 61 3 MONTREAL The Montreal Exchange has launched a new futures contract on one-month Canadian bankers' acceptances, known as the BAR contract, which resembles the BAX futures contract on three-month Canadian bankers' acceptances. "The BAR is being launched to meet the growing demand from market participants for short-term
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  • Page 3 Advertisements
    • 1032 3 A well established sound business specialising in tie design and manufacture of large deeds. Suppliers to Government Departments, Oil Companies, National Transport Fleets ond Motor Vehide Manufacturers. Plant includes computerised sign cutters, forme cutting mochinery and silk screening equipment. Excellenr presentation in a modern factory and office building, long lease
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  • THE REGION/THE WORLD
    • WORLD WATCH
      • 100 4 JAKARTA Indonesia has no objection to the resumption of dialogue with Portugal to settle the East Timor issue as long as it does not involve East Timorese exiles. Foreign Minister Ali Alatas said on Thursday. The talks collapsed after Portuguese Members of Parliament
        100 words
      • 63 4 LIMA, Peru Peruvian President Alberto Fujimori has invited political opponents for a get-together for the first time since seizing sweeping powers but ruled out an immediate reopening of Congress. Mr Fujimori told loreign journalists he would begin talks with the nation's political parties and other "social
        63 words
      • 88 4 LONDON Hopes that Britain's economy might be recovering from recession were boosted on Thursday by figures showing the lowest monthly increase in unemployment since jobless queues began growing two years ago. Official figures for March showed that seasonally-adjusted unemployment rose by just 7,400 after an increase
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      • 86 4 JAKARTA The United States will demonstrate its confidence in Hongkong by legislating a direct relationship with the British colony after it reverts to China in 1997. US Senator Mitch McConnell, a member of the Senate Foreign Relations Committee, said yesterday he was sure China would uphold
        86 words
    • 459 4 AP Reuter HANOI Vietnam's new Constitution will make its leadership more accountable with the creation of the post of president, curbing the Communist Party's power and giving people new civil and economic rights. The political reforms mandated in the new Constitution are aimed more
      AP; Reuter  -  459 words
    • 443 4  -  From Philip Moore in BANGKOK THAILAND is reeling from one of the worst droughts in its history, threatening widespread destruction of crucial crops and livestock. It has been a sad. sorry but worst of all, dry Songkran (Thai New Year celebrated with a water
      443 words
    • 299 4 Reuter HONGKONG The Hongkong government will pay a maximum of HK$l.5 billion (about SS3OO million)in compensation to the Mass Transit Railway Corp (MTRC) if the colony's new airport is not completed by the scheduled opening date of June 1997. The compensation
      Reuter  -  299 words
    • 241 4 UPI Reuter NEW YORK US executives are more optimistic about the United States economy and expect to create 1.9 million new jobs this year. An employment survey by Dun and Bradstreet Corp (DB), which surveyed 5,000 business executives across the country
      UPI; Reuter  -  241 words
  • SHIPS IN PORT
    • 648 4 Vessel Voy Wo Berth KnM Departue Vessel Voy Wo Berth Arrival Departire Marina Terminal 1 Spo 35 P04 17.04/1930 1804/1400 Batammdo 1 186S M01 alongside 17 04/1900 Velen)e 853W P05 1804/2359 2104/0600 Cahaya Harap 21 M04 alongside 17 04/2200 Winco Trader 3 P09B 18 04 1900 20
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    • 1285 4 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rslts Ship Voy No Etb/Btr Period From To From ACX Daisy 25A 20 0800 1 18 0700 18/1159 18 1400 1 18/1200 18/1459 18/1700 ACX Ruby 52A 18 2300 1 17/1500 17/1659 17 1900 2 17/1700 18 0659
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    • 168 4 Kuantan Port In the roads: berth 1A: Sang Thai Winner; 1: Flores; 2: Xin Hua 9: 3: ntl;4 nil Pahn od berth outer: Fraternity L Palm oi berth inner: nil Mineral oi berth: nil Service jetty: KD Ketam. KD Taniung. KD Mewang. KD Sundang. KD Serawak, KD
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  • KUALA LUMPUR STOCK EXCHANGE
    • 5337 5 Bernama KUALA LUMPUR share prices closed narrowly mixed on profit-taking and lack of follow-through support in thin trading yesterday. Investors apparently decided to liquidate their positions on cautiousness following falls on the Tokyo market and ahead of the weekend. The KLSE Composite Index
      Bernama  -  5,337 words

  • TOKYO STOCK EXCHANGE
    • 2611 6 Reuter TOKYO stocks closed lower after three days of gains as profit-taking and futureslinked selling squeezed prices. Brokers said the approach of the weekend also pushed traders to close positions. The soft yen and bond prices also weighed on trade. "After the gains we've had.
      Reuter  -  2,611 words
  • STOCK EXCHANGE OF THAILAND
    • 2288 6 Reuter THE strong rise of major property firm Bangkok Land, the largest capitalisation issue, led gains in the property sector and pulled up the stock index, analysts said. The SET index ended 12.76 points higher at 822.88 on a turnover of 6.03 billion baht. Advances
      Reuter; Source: Bridge Info  -  2,288 words

  • REGIONAL STOCK MARKETS
    • Seoul index up slightly but losers litter the board
      • 800 7 SEOUL stocks ended higher yesterday for the third consecutive session after early active across-the-board buying fell away, brokers said. They also said the market would continue to trade in a narrow range this month. "The market should follow this trend this month as the credit crunch makes it hard
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      • 114 7 BOMBAY Stock Exchange share brokers boycotted trading on Thursday, saying they were protesting against hefty registration fees required to be paid by them to a new watchdog agen- cy. Securities and Exchange Board of India (Sebi), a watchdog agency set up by the government, said in a circular to
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      • 56 7 INDICES TURNOVER lose Pnrtiotis \pr 17 NEW ZEALAND N/SE-40 C4p1t.1l ctaed 1.410 6>> MANILA Composite Index el«>sed 1.170*0 Turnover (million pesos! closed 135 04 TAIPEI Weighted Price Index 4.503.22 4.538.52 -35.30 Turnover (N IS billion) 14.3 18.68 -4 38 SEOUL Composite Sunk Index 587.72 587 33 0 3» Turnover (billion
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      • 535 7 POLITICAL worries and profit-taking after Thursday's rebound pulled prices down yesterday to close lower and brokers said a slow market would continue. The weighted index fell 35.30 points to 4,503.22 compared with Thursday's 4,538.52-point finish. Turnover fell to NTS 14.3 billion from NTS 18.68 billion previously. Brokers said profit-taking
        535 words
  • BT SHARE INFORMATION SERVICE
    • 360 7 Mm an prica trwds on tta worlds au>or stock marfcats as oUiM by (tor cmrStoatey Capital latonutkmal Porspocthw, Geneva. Mien aurM wttfc a ani taiu* fray a base sMM at tta k*|iMh| of IMS. Tha attar Micas aro take* fro* a base af 1M at
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    • 198 7 Company Date Year Group Nat Net earnings Gross ann to profit/loss (L) per share dividend (*000) (coats) CDL Dec 14 Dec 91 HKJ80 737($10.761l) 2 7( HSBC Apr 14 Dec 91 $5,664 ($3,096 35(1 9) 19(1 6) DBS Apr 13 Dec 91 $315 308($286.348) 62(59) 16(16) OU Securities
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    • 165 7 Company Rights Issue Bolton Issue of *****8m nominal amount of 35% Redeemable Unsecured Guaranteed Bonds 1992/97 with *****m detachable TSRs on the basis of $2 nominal amount of Bonds for every three existing shares held Ei-date Apr 15 Books close Apr 30 Acceptance 4 Payment NYA COl Consolidation
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    • 78 7 Conversion Special Irdg Scripless Conversion deadline Period Trading Company starts (IDP) (ST) starts C entrepoint Mar 50 Apr 21 Apr 8 Apr 21 Apr 22 First Capital Mar 31 Apr 22 Apr 9- Apr 22 Apr 23 Hai Sun Hup Apr I Apr 23 Apr 10 Apr Apr
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    • 1052 7 Company Date Year Croup pre-tax Not earnings Gross ana to profit/loss (L) per share dividend C04M) (coats) Perlis Plant Apr 13 Dec 91 M$*****7(1204.043) 496(52 1) 16(16) Sunge. Way Apr 10 Dec 91 M$26 751 ($20,508) 28(22 8) 12(10) Jurong Eng Ape 8 Dec 91 $6.289($4.424) 22 5(15
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    • 320 7 fUmUmi last M Year hreeast Me Net Net PraUt IPS mmet Yev IPS Cms praCt laage N> Cm Peried bstp (MfiH (cts) (TIN) (S$a) fan M I Apr 19 Aug 92 29.5 10 0 28.013 172—37 3 141-309 SPN I Apr 26 Aug 92 62 6 250 153,802
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    • 344 7 B«ri Last Fri Year Cwpmj PoM Date Year EPS Cms Net mmmai twfmg (cts) At prefit last year (SS'MC) E*S Final Nov 6 Jul 91 30TE 17.8781 Jacks M Final Apr 30 Jan 92 2281 RTF NMgs Final May 6 Mar 92 4 5 3 3 6.032
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    • 605 7 Company Rights Issue Wfance Tech Orator-one SI 00 per share Bedford Issue of $175 lm nominal amount of 55% Bar* Guaranteed Bonds 1992/97 with detachable transferable subsection rights (TSR) on the basis of one TSR for every four ordinary shares MSO 195 for each TSR CASH Three for
      605 words
  • Page 7 Advertisements
    • 304 7 The Hongkong, Australian. New Zealand, Indonesian and Philippines stock markets were closed yesterday. pnuxo:?] IN THE MATTER OF THE COMPANIES ACT. CAP 50 AND JEN TANG PROPERTY HOLDINGS PTE LTO (In Member*' Voluntary Liquidation) At an Extraordinary General Meeting of tt>e Company duly convened and held at 1 Colombo Court
      304 words
    • 314 7 IN THK MATTER OF thf: companies act. CAP. 50 AND in thf: m atter of TONG CHUN ENGINEERING PTE LTD (IN MEMBERS' VOLUNTARY WINDING-UP) At an Extraordinary General Meeting of the Members of above named Company duly convened and held at 288 Stanley Street. Singapore 0106 on Wednesday. 15 April
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  • WORLD STOCK MARKETS
    • Dow gains but broad market ends mixed
      • Article, Illustration
        1584 8 NEW YORK stocks closed narrowly mixed in choppy trading on Thursday, with the Dow setting another record high and the broad market lagging behind as many investors took profits following a five-day advance. The Dow Jones Industrial Average rose another 12.74 points to 3,366.50 for its third straight
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      • Article, Illustration
        873 8 LONDON shares turned down on Thursday afternoon, changing direction after a strong start, as traders squared their books ahead of the long Easter weekend. Shares opened 28 points up but soon slowed their upward movement on a wave of profit-taking. Official figures, released mid-morning, showing a 7.25 per cent
        873 words
      • 78 8 INDICES TURNOVER NEW YORK (loir Previous \pr 16 lAm Jones S& 1' MX) Turnover (million) HWi.50 416 05 233.23 3.353.76 416 2X ***** 12.74 -0.23 4-3.52 LONDON financial Times 30 TTST KM) Turnover (million) 2.059.2 2.63*6 XX9.1 2.053.0 _\64(i .2 8IH.9 *6.2 -1.6 f 70.2 FRANKFURT l).AX Index 1.749.23 1.743.79
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      • 353 8 Zurich Apr 16 Francs Alusuisse Br *>53 5 Brown Bo\eri Br 3990 10 C'S Holding Br 1985 10 CS Holding Reg 376 -I Ciba (»cig> Br 3480 -20 Ciba Geigy Ps 3380 -20 Ciba Geigv Reg 3490 -30 Crossair Br 340 Llektrowatt Br 2440 unch Fischer Br 1050 40 Globus
        353 words
      • 234 8 THE Frankfurt market chalked up its third straight gain on Thursday, as the DAX spot trend index ended the session at 1.749.23 points, up 0.31 per cent from the Wednesday close. The Commer/bank indicator broke through the 2.(XX)-point level to end at 2.005.60. However, analysts warned that the market,
        234 words
      • 214 8 DUTCH shares closed mixed on Thursday after a hectic final hour in which the EOE index soared to a new 1992 high then went into sharp reverse to close barely changed. Business was dominated by the 1400 GMT expiry of the April options series on the European Options Exchange
        214 words
      • 239 8 A TECHNICAL rally pushed Italian shares higher on Thursday at the start of the new trading account, and stocks in the Carlo De Benedetti group recovered from earlier lows after news of his conviction on charges stemming from the 1982 collapse of Banco Ambrosiano. A Milan court sentenced De
        239 words
      • 109 8 SWEDISH share prices closed higher on Thursday in thin pre-holiday trade influenced by foreign gains. The general index closed up 0.46 per cent at 977.78 in light trade of 379 million crowns. Skanska led a strong performance in the property and construction index after it said in its 1991
        109 words
      • 444 8 INDUSTRIAL shares ended a touch firmer on the Johannesburg Stock Exchange on Thursday in line with strong world equity markets, but mining stocks were depressed by the strong financial rand and weak precious metal prices. Trading was thin ahead of the long Easter weekend, although a few large book-over
        444 words
      • 320 8 TORONTO stocks ended mixed on Thursday in slow trade as players shied away from the market before the threeday Easter weekend, dealers said. "The market laid an Easter egg today," said John Ing, president of Maison Placements. "Here in Toronto it was a slow day." The TSE 300 officially
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  • Page 8 Advertisements
    • 25 8 The Paris and Zurich stock markets were closed on Thursday. The Brussels market report was not available. Advertising and Marketing in Business Times every Thursday
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  • CURRENCIES/COMMODITIES
    • 441 9 They call for duties on British, French, German imports Reuter BRUSSELS United States steelmakers cast a cloud over strained transatlantic trading relations with a complaint on Wednesday to their government that European Community exporters were dumping their wares on the world market.
      Reuter  -  441 words
    • 496 9 Reuter YAOUNDE, Cameroon French Prime Minister Pierre Beregovoy yesterday sharply criticised the United States for trying to enchant France's former African colonies with the "siren song" of a devaluation of their common currency, the CFA franc. In a message to finance ministers of
      Reuter  -  496 words
    • 177 9 Reuter LONDON Reuters Holdings pic said on Thursday it would launch the second phase of its Dealing 2000 foreign exchange trading system on April 29. Dealing 2000-2 adds automatic matching to the existing system, which allows clients to negotiate deals on 17,000
      Reuter  -  177 words
    • 728 9 REPORTS ASIA Tokyo: The dollar closed slightly easier against the mark yesterday on light long-liquidation in slow Tokyo trade. It was steady against the yen. Late short-covering of the mark for the yen also served to weaken the dollar against the
      728 words
    • 531 9 REPORTS THE PRICE of tin on the Kuala Lumpur Tin Market remained unchanged at M$ 14.50 per kg in thin trading yesterday. Dealers said there was not much interest in the market in view of the Good Friday and Easter holidays in Europe. The
      531 words
  • 1022 9 COMEX Apr .6 cold futures (i oo oz) uss/oz Open High Low Settle Change Apr 92 336.70 337.30 336.70 337.40 +1.40 May 337.50 +1.30 Jun 337.70 338.50 337.40 338.30 +1.30 Aug 339.60 340.40 339.40 340.20 +1.30 Oct 341.70 341.70 341.60 340.80 +1.30 Dec 343.60 344.50 343.40 342.90 +1.30 Feb
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  • Page 9 Advertisements

  • 465 10 Move follows warnings of ethnic unrest Reuter AFP MOSCOW Russian deputies, stung by warnings of ethnic unrest, yesterday reversed their previous day's decision to restore "Russia" as the country's sole name. Deputies stood and thundered applause after voting by 759 votes to 77 to
    Reuter; AFP  -  465 words
  • 367 10  -  From John Helmer in MOSCOW SEVERAL of the Russian government's most senior policy-makers for Asia are leaving Moscow. Some believe their departure in a series of ambassadorial appointments decided some time ago and announced last week represent an internal shift of power at the
    367 words
  • 391 10 Reuter AFP ISLAMABAD With Afghan leader Najibullah ignominiously ousted and Islamic "holy warriors" at the door, Kabul's new rulers are ready to do a deal but they hold a desperately weak hand. Mujahideen guerillas, massed only 25km north of the
    Reuter; AFP  -  391 words
  • 299 10 AP NEW YORK American Telephone and Telegraph Co has reached an agreement with the government of Vietnam to restore direct phone service between the United States and the communist nation after a 17-year hiatus. The agreement follows approval earlier this week of the service
    AP  -  299 words
  • 241 10 Reuter TOKYO Arranging additional aid for non-Russian former Soviet republies is pointless because confusion within the CIS means the initial package has not yet been distributed, a senior Japanese government official said. "It seems pointless to agree on additional financial commitment
    Reuter  -  241 words
  • 308 10 Reuter BEIJING China will start nationwide housing reform plans this year in a bold effort to lessen the burden of subsidies crippling government and industry, said official reports yesterday. Loss-incurring state enterprises and huge government bureaucracies now house millions of workers for almost
    Reuter  -  308 words
  • 370 10 Reuter AFP TAIPEI Taiwan, angry that China is still blocking its efforts to forge links with other nations, said yesterday that it would not lift a ban on imports of finished products from the mainland. "We have no immediate plan
    Reuter; AFP  -  370 words
  • Page 10 Advertisements

  • Executive
    • 1455 11  -  Spiralling education costs mean parents need to take a hard look at future finances, reports Nirmal Ghosh Nirmal Ghosh HAVING a baby nowadays isn't a case of listening to little feet pitter-pattering around the house. Having a baby means spending money from Day One, when it requires diapers
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    • STRAWS IN THE WIND
      • 37 11 ISDN is the catchword for Telecoms these days. The Integrated Services Digital Network will make electronic communications more sophisticated, but as one jaded anti-technology advocate remarks. ISDN also stands for "Innovation Subscribers Don't Need".
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      • 54 11 THIS is how highly some people think of Singapore Airlines. Richard Branson, editor of the highly acclaimed travel magazine Conde Naste, was quoted as saying: "Then I realised that every big airline in the world, with the exception of Singapore Airlines and one or two others, was
        54 words
      • 44 11 STILL, not all big airlines are infallible. At the function for SlA's inaugural flight to Johannesburg, it turned out that all the guests SIA invited were white (apart from some of the journalists). It was obviously unintentional, but maybe a trifle ironical?
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      • 35 11 EVER heard of this one? disgruntled divorcee: "I asked my ex-wife if she would marry me again, but she turned me down. She said I was only after her for MY money."
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      • 24 11 SIGN in a Hongkong dress shop: "Ladies may have a fit upstairs". Maybe they shouldn't have looked at the prices?
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    • Letters to the Editor
      • 301 12  -  Why their COEs should be paid for a shorter period PK Loh SOMETHING must be amiss when large numbers of owners of old motor vehicles have not paid for their COEs (certificates of entitlement). The vehicle quota scheme was designed to curb the growth of vehicle registrations.
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      • 285 12  -  Tin Maung Mating Than IN THE article by Said Abdullah (April 9) on Asean's position regarding the plight of Muslims (of Bangladeshi origin) from Myanmar who fled to Bangladesh, a passage from my Trends article (March 26) was quoted in a context which differs
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    • LIFESTYLE
      • 865 13  -  A beginners guide to wine appreciation, Part 2 WINE By NK Yong SMELL: This carries only four to six points on a 20point scale whereas taste carries eight to 10, but experienced wine tasters attach the greatest importance to it. This was borne home
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      • 318 13  -  BRIDGE By Sybil Holloway BRANCO/Chagas and Meckstroth/Rodwell, the leading pairs after the seventh round of the Sunday Times/The Macallan Malt International Bridge Pairs Championship 1992, were watched by a packed gallery when they played Board 9 of Round 6. At more than one table
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      • 534 13  -  By Dr Michael B McGannon The writer is a Stanford University-trained doctor who is the medical director of Insead Business-Health course, which is also offered here. He welcomes queries from readers. Write to him c/o Executive Lifestyle. Business Times, 390 Kim Seng Road,
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    • PEOPLE
      • 97 13 THEY CAME, they wrote, and Singapore Press Holdings sponsored. That was the reason behind the launch of the SPH Young Playwrights Series last week. And the message of the evening from guest-of-honour Dr Tay Eng Soon, Senior Minister of State (Education) was this advice: be sensitive to
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      • 70 13 HE WENT to a dinner and went home with the dish of the day a chicken in a basket. MP Koo Tsai Kee (lanjong Pagar GRC) was the proud winner of a Golden Ayam award given by the Singapore Press Club at its dinner and
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      • 163 13 IN THE running for fashion event of the year was April 10's Fashiontasia. a fashion show highlighting 16 local designers as organised by Soda (Society of Designing Arts Fashion) and Swarovski. Lesser-known hopefuls jostled with their more established counterparts to show off the best
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    • PURSUITS
      • 660 14  -  Susan Tsang on an exhibition of porcelain recovered from a ship that sank 250 years ago Susan Tsang LIKE many other ships out to tap the riehes of the Orient, the East Indiaman (Jotheborg set otT for China on March 14, 1743. After its
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      • 662 14  -  Hector (Kiss of the Spiderwoman) Baoeneo presents another bleak view of life in At Play in the Fields m/ of the Lord. Jaime Ee reports. Jaime Ee WOOOO-wooo-wooo!! Watta matta unga a CHIAKK!! You maybe forgiven if you haven't the foggiest idea what this
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      • 737 14  -  Fred Ni gazes at Pauline Gagnon's paintings from a distance and is enchanted by their cunning interplay of shapes and colours Fred Ni WITH most paintings, there is an optimal point for viewing the piece of work. If you stand too far away, you miss
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    • PERSONAL FINANCE & INVESTMENT
      • 1108 15  -  You need to start saving now for your child's education. Nirmal Ghosh reports on the various types of investments, ranging from the basic insurance policy to foreign-currency bonds, that can be used for this purpose Nirmal Ghosh WITH the worldwide trend of steady withdrawal
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      • 449 15  -  CHART By Chew Eng Han THE short-term outlook for the Straits Times Industrials Index (STII) has improved with the quick break above the 1,400 level on Thursday. But the more pessimistic medium-term picture remains intact, as a decline to the
        Source: Bridge Info  -  449 words
      • 714 15  -  US-based consultancy C J Lawrence says the risk is that the current tentative US recoveiy will be followed by a downturn. Shoeb Kagda reports Shoeb Kagda THE United States economy is in danger of going into a triple dip which could
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    • SPORTS
      • SIDE LINES
        • 139 16 McEnroe from tennis brat to outspoken elder INGLEWOOD, California John McEnroe may be in the twilight of his tennis career, but he has not lost his legendary combative spirit. The 33-year-old American tennis champion has just shifted gears from tennis brat to outspoken elder statesman. McEnroe, playing what he says
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        • 86 16 LINARES, Spain Britain's Nigel Short, playing with the white pieces, was holding an advantageous position when he scaled his 61st move in the fourth game of his World C hampionship Candidate's series against Russian Anatoly Karpov here on Thursday. Experts agreed that Short, trailing the
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        • 124 16 BARCELONA, Spain With just 100 days left before the Summer Games, world track officials and local Olympic organisers remain locked in a battle over the timetable for several key races. The focus of the debate is American sprinter Michael Johnson, the world's fastest man at 200
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        • 92 16 SAN FRANCISCO Bill Swift, who has all but one of San Francisco's victories, pitched his second straight complete game and doubled twice on Thursday as the Giants beat the San Diego Padres 6-1. Swift (3-0), who returns home to Seattle between starts to await the birth
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        • 81 16 STOCKBRIDGE, Georgia Angie Ridgeway, a 27-year-old rookie, snapped up a shock three-stroke first-round lead in the Women's golf tournament here on Thursday when she shot a spectacular 8-under-par 64. Ridgeway, who qualified for the LPGA Tour last October after four years on the Futures Tour,
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      • 733 16  - Aids one more challenge for Ashe Michael Wilbon reflects on the effect of Arthur Ashe on black youth Michael Wilbon IHT WASHINGTON I'd see Arthur Ashe in the press box at the US Open, or Wimbledon, or here in the sports department of The Washington Post, and he looked thin.
        IHT  -  733 words
      • 434 16 AP BOSTON Runners in the Boston Marathon will have more to worry about than Heartbreak Hill and hitting the wall in this year's race. How about Heartbreak Pothole? Or hitting the frost heave? Budget cuts in recessionstrapped cities along the marathon route have added
        AP  -  434 words
      • 975 16 Honda motorcycle is her new best friend AMELIA ISLAND, Florida Fresh from volleying her way to a championship on Hilton Head Island, South Carolina, where she successfully defended her 1991 title a week ago, Gabriela Sabatini shrugged into her black leather jacket, mounted her
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      • 467 16 NYT NEW YORK As with any new sports promotion in New York, the horns have started blowing early for the Indy-car race scheduled for June 1993 around the World Trade Centre. And when it comes to excessive horn-blaring, who knows better
        NYT  -  467 words
    • 1276 17 City Flight ETA Flight ETD Abu MaM GA971 1035 GA976 0145 GA890 0150 AMaMa QF8 2010 QF82 2115 SQ227 2130 Amtarfeai SQ319 0715 SQ24 0115 KL837 1255 GA890 0150 KL838 2240 SQ342 2255 Athaat 0A473 0110 QA474 2245 Auckland NZ21 1700 NZ22 1850 SQ286 1905 lahrahi
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    • THE TRAVEL PAGE
      • 778 17  -  LETTER FROM INDIA By Lucia van der Post THIS is not my first time in India. I have been here before, a five-star traveller, sequestered from the heat, dust and crowds by air-conditioned rooms and luxury buses, by meals in Taj Mahals and Oberois. This
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      • 153 17 As at 3pm on Apr 16: IxKal dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.2615 1.2715 Canadian dollar 1.3905 1.4005 NZ dollar 0.8905 0.9205 Sterling pound 2.8925 2.9025 US dollar 1.6510 1.6610 IiOcml dollars to 100 Knits of foreign currency Austrian
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      • 67 17 Duration Title Venue Organiser Tel April-May International Fair Buenos Aires. Interexpo 541-*****1 on Construction Argentina Sudamericana Materials A SA Technology May 20-27 Budapest Buenos Aires. HUNGEXPO 54-1/*****50 International Argentina Fair Duration Title Venue Organiser Tel May 21-24 2nd Asia Expo in Germany Headway Trade (852)*****21 Hamburg Fair-
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    • Article, Illustration
      559 18 American Kickboxer I. He's American, he kicks, he boxes what more could any action fan want? Good acting is in short supply as John Barrett shows off his moves. Cathay 2; 11; 1.30; 4; 6.45; 9.15. A Rage in Harlem. Robin Givens steals the show from her male counterparts
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    • TIME OFF
      • 271 18 Music Literature Series Conductor: Choo Hoey. Features Berlioz's Romeo and Juliet: Orchestral excerpts from the Dramatic Symphony. op 17; and Prokofiev's Romeo and Juliet', selected excerpts from the Ballet, op 64. The programme offers a chance to compare two very different reactions to this tale about the best-known pair
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      • Article, Illustration
        292 18  -  Compiled by Yasotha M From The Bottom of My Heart Etchings, drawing and paintings by Hongkong artist and printmaker, Chung Tai Fu. Venue: Shenn's Gallery. 8 Bukit Pasoh Road (off Neil Road). Friday until May 3. 10.15am- 7.15pm (Afon-Sat); I lam-5pm (Sun). Silent Hope by Nicholas Leong On display
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  • Page 11 Advertisements

  • Page 12 Advertisements
    • 765 12 M Nothing Beats A Bud. where to wine, dine Rung or GENUINE PENANG FARE LET OUR PENANG CHEF INTRODUCE HER NEW RECIPES AT THE NEWLY RENOVATED PRINCESS TERRACE CAFE THE PLACE FOR AUTHENTIC PENANG SPECIALITIES. A RENDEZVOUS FOR FINE MEALS AT CAFE PRICES. OR LIGHT SNACKS WITH GOOD FRIENDS. KING
      765 words
    • 287 12 WE VE JUST BRED A NEW WINNER I at The Stables The Businessmen's Derby Lunch **ff A delectable choke of appetisers and soup. r/5// followed closely by your pick from five delightful main dishes and a selection of desserts. Finish Hoc. (jnHroro With COfe* Of tC» Only *28.00++ Closed for
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  • Page 13 Advertisements
    • 211 13 AND ENTERTAIN In the month of April, a fashion extravaganza awaits you at the Fountain Lounge: April 4 Johnson L Levee Boutique April 11 Eunice Creations April 18 La Femme Fatale Boutique April 25 Sunny Grace Enjoy a leisurely Saturday afternoon tucking into delicate French pastries, dianxin and sandwiches... and
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  • Page 15 Advertisements
    • 104 15 EXPRESS SHARE LOAN Turn your I into instantly Get cash on the spot for your shares for 1,2 or 3 months at 1% per month. Scripless counters are also J acceptable. Rat (discounted) For more information, call our toll-free numbers. Hong Leong Finance 223 0936 Singapore Finance 226 3396 ONLY
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  • Page 17 Advertisements
    • 41 17 Discover the lengths Fmnair go for just one price. A superb twice-weekly service from Singapore direct to Helsinki and daily connections to over 35 European destinations- all for one price. Call *****77 for details. We know Europe from rtirt to Finnish.
      41 words
    • 25 17 Difficulty in getting a copy of Her World, Go, Singapore Business, Home Decor, Young Parents 9 Call our Hotline 749-2577 for locations of nearest newsstands.
      25 words
    • 318 17 NOTICES IN THE MATTER OF THE COMPANIES ACT. CHAPTER 50 AND IN THE MATTER OF PANASIA (19*8) PRIVATE LIMITED (IN VOLUNTARY LIQUIDATION) MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the Members of the abovenamed company duly convened and held at No. 4 Hong Kong Street. Singapore 0105 on
      318 words
    • 270 17 IN THE MATTER OF TM€ COMPANIES ACT, CAP 50 AND OELFINE DESIGN PTE LTD (In Members' Voluntary Liquidation) Al an Extraordinary General Meeting of the Company duty convened and heid at 1 Colombo Court *04-06 Singapore 0617 on the 13th April 1992. the following Special Resolution was duty passed RESOLVED
      270 words
    • 182 17 In The Matter of the Companies Act, Cap. 50 And In the Matter of SUNKIN<« FOODSTUFFS PrE LTD (In Members' Voluntary Liquidation I NOTICE IS HEREBY GIVEN, pursuant to Section VW<2) of the Companies Act. Cap. 50, thai the Final Meeting of Members of the abovenamcd Company will be held
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    • 8 17 news for Singaporeans overseas. Subscribe now. Call 749-2577.
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  • Page 17 Miscellaneous
    • 237 17 6 Wordy encounter heraldie corridor (7,2,4) 1 I 7 8 Give up occupation (6) Condemns for a 10 Absence of tungsten at the *****111 present time (3) 12 A hormone perhaps for the pil I I I I "iPTI p3j space traveller (8) Elasticated doorman? 16 Lazy or bashful after
      237 words
    • 162 17 Singapore Outlook: Showers over several areas in the afternoon. World report Asia-Pacific Hi/Lo* Cond. Auckland unav Bangkok 36/26 Clear Beijing 20/11 Clear Brunei unav Hongkong 25/19 Fair Jakarta 32/23 Rain Kuala Lumpur 25/19 Fair Manila 32/26 Fair Melbourne unav Perth unav Seoul 13/04 Clear Sydney 22/17 Wind) Taipei 26/17 Clear
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    • 48 17 I»'rt>i^-,'neg *gs3 roSfS^ S B^ RD I I wouV rYIRCKeR€L aorw Lu>HP»T'3 GOING ON g cpuftOS CtttJOffeuß IS l tort LOITH rlT <: CT PRRKCX? W SIR ftSsiNAurte LevcßS fnbVIOUSLW I-'" cone PSHD SOL ißerweeN THC tu>O DR»VCRS YOUfWGA^.. J \'s GO'HO 1 I e ASSOCIATED NEWSPAPERS LTD.. IM2-IM2
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  • Page 18 Miscellaneous
    • 1652 18 TODAY'S TV 1.10 Horizon (Documentary). 1.35 Kisah Dan Molodi. 1 2.00 Malay Drama. ?Hi ara Dua Dar at 4 o °P m Today's Gourmet: Cooking I 15n SBCS Against The Clock, 12.30pm, HK| B *wF I 400 kHSLhISS^ P Kamlcc plays Gha/ali. u SBC 5 I 5.30 Colak Ria. pianist
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    • 617 18 MOVIES ON TV fascinating enough to make a IHr 0n out proSBC 5 duction traces Strieber's exTwo railyard workers (Wil- periences from the aliens' ford Brimley and Levon first arrival to his countless Helm) lose their jobs when visits to shrinks to convince the yard is shut down. They them
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