The Business Times, 13 June 1992

Microfilm: NL18214
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    17 1 Business Times THE BUSINESS PAPER FOR S-E ASIA MITA (P) 35/12/91 Weekend Edition, June 13-14 1992 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      US, Russia in last-ditch talks on disarmament
      59 1 LONDON United States Secretary of State James Baker met with Russian Foreign Minister Andrei Kozyrev yesterday for last-ditch talks on nuclear disarmament ahead of next week's US-Russian summit. The main sticking point is over Washington's insistence that Russia give up its multi-ple-warhead missiles
      59 words
    • Article
      Gatt trade talks to resume next week
      50 1 GENEVA Trade officials will resume negotiations next week in Geneva under Gatt's struggling Uruguay Round of trade talks on opening up rich markets in services to foreign competition and negotiations also among major players on lowering import tariffs, a Gatt spokesman said yesterday.
      50 words
    • Article
      Dow higher
      31 1 NEW YORK The stock market rallied sharply yesterday morning, inspired by surprisingly favourable news on inflation. The Dow jumped 13.48 points to 3,364.99 in the first hour of trading.
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    • Article
      Footsie lower
      24 1 LONDON shares were lower at midday yesterday. At about 1130 GMT, the FTSE 100share index was down 6.3 points to 2,607.8 points.
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    • Article
      PUB appoints DBS Bank
      42 1 THE Public Utilities Board has appointed DBS Bank, along with consulting firm Arthur D Little and law firm Khattar Wong Partners, as consultants to advise on the restructuring and privatisation of its electricity and gas departments Page 2
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    • Article
      G K Goh targets China
      33 1 SINGAPORE stockbroker GK Goh Holdings Ltd is expanding into the China market, having signed an agency agreement with Shanghai's largest broking company, Shanghai Shenyin Securities Company Page 2
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    • Article
      Avimo interim jumps
      31 1 AVIMO Singapore Limited turned in a sterling performance for the interim period ended March 1992, with net earnings up by 88 per cent to $2.5 million Page 3
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 727.45 +1.32 Kuala Lumpur ...590.55 +1.03 Tokyo 17,383.68 -325.37 Hongkong 5,819.07 -7.47 Sydney 1,651.3 -6.8 Thursday Change New York 3,351.51 +8.29 London 2,039.5 -17.8
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    • Article
      CURRENCIES
      22 1 Exchange rates USS SS 1.6230 100 Yen SS 1.2815 MS SS 0.6437 Money market rates Overnight 2-7/8 unch 3-month 3% -3/16
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    • Article
      COMMODITIES
      37 1 London Gold AM fix USS340.25 US$2.25 Rubber S'pore Aug 141.50Vkg +0.50 M'sia July 22l.50«/kg +0.50 KL Tin Turnover 73 tonnes +12 Spot MS 16.00/kg 0.07 Crude palm oil Turnover 854 lots -807 Aug MS881 /tonne 2
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  • Article
    KL approves plans for two new oil refineries
    662 1  -  Bigger regional role if Lumut, Bintulu plants succeed From Leslie Lopez in KUALA LUMPUR MALAYSIA'S hopes of becoming a major regional oil refining centre have been boosted by plans to build two more refineries in the country. News reports yesterday said that
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  • Article, Illustration
    Bank Summa sacks directors, brings in Panin Group
    508 1  -  By William Chia SINGAPORE The longanticipated shake-out at debtridden Bank Summa has taken place with most of its directors being sacked and the highly-respected Panin Group assuming management control. Bank Summa's controlling shareholder, the Soeryadjaya family headed by patriarch William Soeryadjaya, earlier
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  • Article
    MAS freezes Yugoslav assets with institutions in S'pore
    270 1  -  By Conrad Raj SINGAPORE The Monetary Authority of Singapore has frozen all Yugoslavian assets with financial institutions here in line with United Nations sanctions against Serbia and Montenegro. The two are the only remaining states in the Yugoslavian federation after four other
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  • Article
    Sapura surprises market by raising FCW bid to M$123m
    564 1  -  From Leslie Lopez in KUALA LUMPUR THE BATTLE for Malaysia's Federal Cables Wires Manufacturing Bhd (FCW) was thrown wide open yesterday when Sapura Holdings Sdn Bhd announced a revised bid to take over the company for over Msl23 million (5579.2 million).
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      157 words
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      Page 1 Advertisements Column 2
      9 1 Uphill task for Singapore hotels in China, Pg 3
      9 words
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      Page 1 Advertisements Column 3
      230 1 Nikon TlwWbrtd'sFtnMt Photographic Syrtom. The movement of a watch is dust, din 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 striven the precision Oyster movement. the depths of the oceans and to
      230 words
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  • PAGE 2 NEWS
    • SINGAPORE ROUNDUP
      • Article
        Ex-STPB director to help Viet tourist body
        146 2 FORMER Singapore Tourist Promotion Board director KC Yuen has been appointed adviser to Vietnam's national tourism body. Mr Yuen, who was STPB's director for seven years, will advise Vietnam Tourism on tourist infrastructure to be put in place, as well as training needs
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      • Article, Illustration
        Sembawang building on schedule
        91 2 CONSTRUCTION of Sembawang Shipyard's $30 million, three-storey administration building in Admiralty Road West has gathered pace. A Sembawang spokeswoman told BT recently that demolition and piling work, which started on April 20, was finished. She said work on the substructure had started and was on schedule.
        91 words
      • Article
        Export Credit Insurance renamed
        204 2 EXPORT Credit Insurance Corporation of Singapore Ltd is now known as ECICS Holdings Ltd. The change, which took effect on June 1 after its shareholders approved it on May 29, will better reflect its role and function as the holding company of the group, it said
        204 words
    • Article, Illustration
      Golkar likely to lose 8 seats to opposition
      567 2  -  Indonesian elections From Maggie Ford in JAKARTA THE Indonesian ruling party is likely to lose eight seats in the National Assembly as a result of a swing of almost 6 per cent to opposition parties in this week's general election. With 90
      567 words
    • Article
      Lock icon BOJ quarterly survey shows Japanese business confidence at 5-year low
      316 2 AFP, Reuter TOKYO Japanese business confidence fell to a fiveyear low in the three months to May, but is forecast to rise in the current quarter, marking the first improvement in three years, the Bank of Japan said yesterday. The
      AFP,; Reuter  -  316 words
    • Article
      Lock icon EC wants 5pc share in Japanese chip market
      320 2 AFP TOKYO The Kuropean Community (EC) has demanded a 5 per cent share in the Japanese chip market, just a week after Japanese chip users promised US makers that they would try to buy more, officials said yesterday. Mogens Peter Carl, head
      AFP  -  320 words
    • Article
      DBS Bank advising PUB on privatisation
      615 2  -  Board's earnings dip for the first time in 1991 By Shoeb Kagda SINGAPORE The Public Utilities Board has appointed DBS Bank, along with consulting firm Arthur D Little and law firm Khattar Wong Partners, as consultants to advise on the restructuring and privatisation of
      615 words
    • Article
      PWD project to relieve congestion at Adam/Dunearn roads junction by 1997
      248 2  -  By Juliette Walker SINGAPORE The Public Works Department (PWD) has outlined a multi-million dollar project to relieve the rush-hour bottleneck at the junction of Adam, Farrer, Bukit Timah and Dunearn roads. Chuen Fong, PWD's assistant chief transportation engineer, told
      248 words
    • Article, Illustration
      No need for change as currency board system effective: Dr Hu
      276 2 SINGAPORE Finance Minister Richard Hu said that Singapore's currency board system has served the Republic well and he does not see a need for change. "Instead, we will continue to adapt the system to changing circumstances," Dr Hu said
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    • Article
      Lock icon Taiwanese still keen to invest in Malaysia despite official's call
      516 2 MBT KUALA LUMPUR Taiwanese investor interest in Malaysia is still buoyant despite a controversial call by a top Taiwanese official urging businessmen not to invest in Malaysia, statistics show. In the two weeks after Vice-Economics Minister P K Chiang's statement,
      MBT  -  516 words
    • Article, Illustration
      Lock icon Taiwan's inbound and outbound investments down
      302 2 AFP TAIPEI The United States has replaced Malaysia as the most popular country for Taiwan's investors in the first five months of this year, the Investment Commission said in a report. The US accounted for 47 projects amounting to US$lOB.6 million (S$ 176.26 million)
      AFP; Source: Mida  -  302 words
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  • COMPANY NEWS 1
    • Article, Illustration
      G K Goh links up with Shanghai broking firm
      413 3  -  By Magdalene Ng SINGAPORE Homegrown stockbroker (i K Goh Holdings Ltd is expanding into the C hina market. G k Cioh said yesterday it has entered into an overseas securities agency agreement with Shanghai's largest broking company, Shanghai Shenvin Securities Company.
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    • Article, Illustration
      3 Yeos quit YHS board in wake of sell-out rumours
      286 3  -  By Salil Tripathi SINGAPORE Confirming the growing division within the board of the beleaguered food and drinks manufacturer Yeo Hiap Seng Ltd, three directors Yeo Thian Seng, Michael Yeo Chec Wee. and David Yeo Chee Peng gave notice at the
      286 words
    • Article
      Lock icon Oriental Holdings expects weaker car market this year
      263 3 Bernama KUALA LUMPUR The domestic car market is not expected to retain its buoyancy of the past two years, says Oriental Holdings Bhd, the local Honda motorcar distributor. Oriental chairman Loh Boon Siew said yesterday that the group anticipated that turnover and
      Bernama  -  263 words
    • Article
      Lock icon Setron to consolidate core business: chairman
      250 3 Bernama KUALA LUMPUR Setron (Malaysia) Bhd intends to consolidate its remaining core business and is looking into areas to strengthen the group, said chairman Ahmad Razali bin Mohd Ali. He said in the group's 1991 annual report that Setron's subsidiary, Scott English (Malaysia) Sdn
      Bernama  -  250 words
    • Article
      Odds are against Singapore firms' hotel ventures in China
      689 3  -  THE HOCK LOCK SIEW COLUMN Bv S N Vasuki SINGAPORE Tourists are returning to China in record numbers this year and hotel ventures owned or managed by Singapore-listed firms on the mainland must be delighted. But the boom in China's tourism
      689 words
    • Article
      Avimo's interim net earnings jump 88pc to $2.5m
      375 3  -  By Claire Leow SINGAPORE Avimo Singapore Ltd turned in a sterling performance for the interim period ended March 1992, with net earnings up by 88 per cent to $2.5 million. This is despite the expiry of its pioneer status and tax privileges.
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    • COMPANY BRIEFS
      • Article
        George Kent well placed for better trade
        95 3 KUALA LUMPUR George Kent (M) Bhd is well placed for further trading improvements owing to the increasing level of investment in the oil and gas sector, said its chairman. Datuk lan Tay Hock. He said in the company's 1991/92 annual report that the
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      • Article
        MPI selling equipment
        81 3 KUALA LUMPUR Malaysian Pacific Industries Bhd announced that its wholly-owned subsidiary Pan Asian Paper Products Manufacturing Sdn Bhd. had proposed to enter into an agreement with Champion Capital Sdn Bhd to dispose of its AF K 12 Akebono Corrugator and Isowa Flexo-Printer for cash considerations of M
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      • Article
        Talam profits up 165pc
        79 3 KUALA LUMPUR Talam Corporation Bhd announced a 165 per cent increase in group pre-tax consolidated operating profit to MS 19.10 million (S$ 12.29 million) for the year ended Jan 3L 1992 from M 57.20 million previously. Group turnover rose by 36 per cent to M$ 127.88
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      • Article
        CCL controls 85pc of M Credit
        58 3 SINGAPORE Cycle Carriage Ltd and parties acting in concert with it have acquired a total of 85.31 per cent of Malayan Credit Ltd comprising 274.31 million shares at the close of its general otTer yesterday. It has also acquired 965.734 Malayan Credit TSRs representing
        58 words
      • Article
        UCM confident of growth
        79 3 KUALA LUMPUR UCM Industrial Corporation Bhd is confident of achieving commendable growth in the coming year, said chairman Mohd Razali Abdul Rahman. He said in the 1991 annual report that the company will continue to strive to generate consistently profitable returns for its shareholders on its
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    • Article
      Lock icon Multi-Purpose upbeat on profits
      338 3 Consolidation of group's core businesses paying off Bernama KUALA LUMPUR Mul-ti-Purpose Holdings Bhd, which recorded a quantum leap in group profitability in 1991, is optimistic of higher profits in the current year, says executive chairman Lim Thian Kiat. He said in the company's 1991 annual report
      Bernama  -  338 words
    • COMPANY BRIEFS
      • Article
        Businessman may give UPI the kiss of life
        78 4 WASHINGTON Just a da\ before it v\as to shut down. United Press International said on Thursday that a New York businessman has stepped forward with an oiler to buy the 84-year-old news agency and keep it operating. UPI said the tentative agreement
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      • Article
        Salomon to issue Wharf warrants
        65 4 HONCiKONCi Salomon Inc said it would issue up to 20 million eall warrants each entitling holders to buy one share in Wharf (Holdings l td). The issue price for the warrants, which will be placed with professional investors and securities dealers, is HK.54.40. The warrants
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      • Article
        Paramount back in the black
        87 4 NEW YORK Paramount Communications Inc, the motion picture and publishing company, said on Wednesday that it earned US$2B.3 million (5546.07 million), or 23 cents a share, in the second quarter in contrast to a US$55 million loss in the 1991 quarter. Sales rose 6.9 per
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      • Article
        Libya to get Metropole stake
        60 4 LONDON The British government said on Thursday it would allow Libya to go ahead with the purchase of a one-third stake in Lonrho pic's Metropole Hotels. Secretary of State for Trade and Industry Michael Heseltine said in a statement he would not refer the acquisition
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    • Article
      Carter Holt posts 22pc jump in earnings
      506 4  -  By Kooi Cho Teng SINGAPORE New Zealand's third largest company. Carter Holt Harvey ltd (CHH). yesterday announced a 22.4 per cent increase in earnings to N/S 193.6 million (*****.1 million) on a turnover of NZ$2.5 billion. CHH is 29.8 per cent owned by
      506 words
    • Article
      Lock icon Sony gearing up for introduction of mini disc
      372 4 FT LONDON Sony, the Japanese electronics group, is gearing up its marketing and publicity campaign for the introduction of its mini disc, an Bcm recordable compact disc which it hopes will capture the portable music market, valued at well over US$lO billion
      FT  -  372 words
    • Article
      Lock icon Bond Corp revamp may collapse
      423 4 Acil withdraws from committee overseeing company's reconstruction FT SYDNEY Australian Consolidated Investments (Acil) on Thursday withdrew from the management committee overseeing the financial reconstruction of Bond Corporation Holdings, formerly run by Alan Bond, the bankrupt entrepreneur. The withdrawal, announced in a statement to the Australian
      FT  -  423 words
    • Article
      Lock icon GM shakes up financial unit in wake of fraud case
      345 4 NYT DETROIT Moving to restore confidence after being victimised by what prosecutors say is one of the biggest frauds ever to hit a financial institution. General Motors Corp (GM) on Thursday removed several top executives of its financing arm from
      NYT  -  345 words
    • Article, Illustration
      Lock icon UK glass maker Pilkington suffers 49pc drop in profits
      372 4 Reuter LONDON Pilkington pic. the world's largest glass maker. on Thursday said its profits dropped by nearly half last year, after being hit by recession for the second year running. Pre-tax profits plunged by 49 per cent to £77 million (*****.4
      Reuter  -  372 words
    • Article
      Lock icon Political unrest hits Thai Airways hard
      274 4 AFP BANGKOK Thai Airways International (THAI) has hit rough weather following the violence that left Thailand's tourism industry in the intensive care ward, with scores of flights cancelled, others operating nearly empty and its profits plunging. News reports say THAI's staff has demanded that
      AFP  -  274 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      352 3 BUSINES S T 1 M E S Toll free Tel No 737 0043 Fax No: 734 3698 (g) Agip ItalSing, a newly established joint venture between Singapore Petroleum Company Ltd and Agip Petroli, SpA, is constructing a lubricants blending plant in Jurong. The plant with an initial capacity of 15,000
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      1360 4 Deutsche Bank AG m (Incorporated in the Federal Republic of Germany) Consolidated Balance Sheet as of December 31, 1991 AaMta in DM 1.000 1991 31.12.90 UatoillUee mDM 1,000 31 12 80 Cash on hand 1.848,312 1.727,221 Liabilities to banks 11 Balance with Deutsche Bundesbank 6,378,739 4,786,676 Liabilities to customers 203.202,648
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  • FINANCIAL NEWS
    • Article, Illustration
      BNP keen to expand S-E Asian network
      437 5  -  By i Quak Hiang Whai SINGAPORE Banquc Nationalc do Paris (BNP). which officially received a licence last week to open a branch in Ho Chi Minh City, plans to expand further in South-east Asia, including upgrading its representative offices in Hanoi, Bangkok and
      437 words
    • Article
      Lock icon Record settlement in mutual fund case
      483 5 New York brokerage First Investors to pay SEC USs2sm Reuter NEW YORK The Securities and Exchange Commission on Thursday reached a record U5524.7 million (5540.2 million) settlement with First Investors Corp for misleading customers about the risks associated with its junk bond mutual funds.
      Reuter  -  483 words
    • Article, Illustration
      Bearish trend for US$ moves into sixth consecutive week
      622 5 DBS Bank weekly currency review US$/DM: Sixth consecutive bear week The bearish trend of the US dollar against the deutschemark continued into its sixth consecutive week, with the greenback testing its supports and making new lows this week. On Monday, the
      622 words
    • Article
      Lock icon Aussie bank CBA admits being hit by bad debts
      384 5 AFP. Reuter SYDNEY The Commonwealth Bank of Australia (CBA) admitted here on Thursday its profit line was under pressure from bad debts as its share price continued to fall on the Australian Stock Exchange. The admission by the bank, one of
      AFP.; Reuter  -  384 words
    • SMALL CHANGE
      • Article
        Indian bank to set aside US$250m for losses
        76 5 BOMBAY India's largest public investment bank agreed to set aside US$25O million to cover possible losses in the fallout from the country's worst financial scandal, officials said yesterday. The government-owned State Bank ol India Ltd agreed on Thursday to honour liabilities arising
        76 words
      • Article
        BCCI pay-out plan approved
        86 5 LONDON An English high court judge yesterday approved an Abu Dhabi-backed plan to compensate people who lost their money when the Bank of Credit and Commerce International was shut on suspicion of huge fraud last year. Some of the thousands of creditors around the world had
        86 words
      • Article
        Dim outlook for Tokyo banks
        92 5 TOKYO Moody's Investor Service said yesterday the credit quality of Japanese banks won't improve throughout the 1990s due to large unrealised losses from exposure to the ailing real estate market and ongoing interest rate deregulation. In a summarv of a report to be published next
        92 words
      • Article
        Biggest Russian bank fraud
        99 5 MOSCOW A mafia-style gang has netted up to 60 billion roubles (about SSI.I billion) in the biggest bank fraud in Russian history. Moscow newspapers said yesterday. They said about 30 people from the Caucasian region of Chechenya had been arrested and were being held under heavy
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      775 5 GB HOLDINGS LIMITED PRELIMINARY FINAL STATEMENT AND DIVIDEND ANNOUNCEMENT The Directors are pleased to announce the consolidated audited results for the year ended 31 March 1992. Year ended Year ended 31 March' 92 31 March *91 +orsooo $000 Group Co. Group Co. Group Co. 1. (a) TURNOVER 49,955 5.812 66.059
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  • THE REGION
    • NOTE BOOK
      • Article
        Samy Vellu orders probe into savings scam
        104 6 I POM Pos Malaysia Bcrhad has been directed to earn, out an investigation into unauthorised withdrawals ol Bank Simpanan Nasional (BSN) savings accounts made at post offices. Energy, Telecommunications and Posts Minister SSamy Vellu said yesterday that Pos Malaysia had been asked to
        104 words
      • Article
        KL denies blocking Aussie ads
        75 6 KUALA LUMPUR Malaysia expressed surprise yesterday over an Australian claim that television commercials promoting Australia were not approved lor screening here because the word "magic" was used to describe its charms. Malaysian information and tourism olficials denied making such a ruling. The Australian Tourist Commission
        75 words
      • Article
        Pact to fight drug production
        60 6 BANGKOK The governments of China. Myanmar and Thailand signed agreements yesterday to jointly tight regional drug production as part ot a United Nationsfinanced programme, said a UN spokesman here. The documents were signed in Yangon by officials of the three countries and the UN International
        60 words
      • Article
        Dawkins rules out fiscal stimulus
        61 6 CANBERRA Australian Treasurer John Dawkins said that no further fiscal stimulus was planned to aid economic recovery. "We have been able to build in to 1992-93 (budget) a considerable fiscal stimulus in order to provide a boost to the economy," he told a meeting ot
        61 words
      • Article
        Afta could increase competition
        91 6 BANGKOK The implementation of the Asean Free Trade Area may increase competitiveness among member countries vying for foreign investments, said Chavarat Charneerakul, chairman of a working group in Afta. He said that since Asean countries do not possess their own technology, the techniques employed in industrial
        91 words
    • Article
      Lock icon Investment in Philippines plunged 42pc in May
      320 6 Reuter MANILA Total investment approvals in the Philippines plunged 42 per cent last month from May 1991 because of uncertainty ahead of the May 11 presidential election, officials said on Thursday. But they said the investment climate was expected to improve significantly with
      Reuter  -  320 words
    • Article
      Lock icon Aquino seeks international support for successor
      231 6 AFP MANILA Philippine President Corazon Aquino, winding up a turbulent six-year term, yesterday urged international support for her successor, who will inherit daunting economic, political and security problems. "In 18 days, we shall have a smooth transfer of power to a successor government," Mrs
      AFP  -  231 words
    • Article
      Lock icon Vietnam takes first step towards privatisation
      393 6 Seven state units being made joint-stock companies AFP HANOI Vietnam has decided to transform seven state enterprises into joint-stock companies in an experimental first step towards sweeping economic privatisation. Prime Minister Vo Van Kiet designated the seven enterprises on Monday and instructed the finance
      AFP  -  393 words
    • Article
      Lock icon Signs of strain surface in Vietnam-China honeymoon
      204 6 Reuter FRIENDSHIP PASS, Vietnam Signs of strain are appearing in the brief honeymoon between recent enemies. with Vietnam accusing China of encroaching on its territory at the site of a bloody border war. The dispute, over a few hundred metres of territory along
      Reuter  -  204 words
    • SHIPS IN PORT
      • Article
        AT CONVENTIONAL WHARVES
        512 6 Vessel Voy No Berth Afnvai Departue Marina Terminal 1 Batam Baru B154 M02 alongside 12 06/ 2300 Batam Ma )u *****2 M03 alongside 13 06/0500 Batam Sayang *****2 M03 alongside 1306,0500 Bo Kyaw 2 03/92A M04 alongside 12 06/2300 Elatne 9207 M01 alongside 1306/1300 Garuda G53 M05
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      • Article
        CONTAINER SCHEDULE
        1755 6 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rslts She Voy No Etb/Btr Period From To From 2/A STWOO 1 12/1500 12/1659 12/1900 2 12/1700 13 0659 13/0900 4 13/1200 13/1459 13/1700 AoTRuby 58A 14/0/00 i 12/1500 12/1659 12/1900 3 13/0700 13/1159 13/1400 Ad Goncharov 24SI92
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  • THE WORLD
    • Article
      Lock icon Taiwan to allow investment in China's service industry
      304 7 Government to review business policy towards mainland AFP TAIPEI Taiwan is to lift a ban on investment in the service industry in China and is considering allowing capitalintensive enterprises to operate in the mainland, government officials said here yesterday. The cabinet-level Mainland
      AFP  -  304 words
    • Article
      Lock icon Anti-inflation plan set to dampen Taipei markets, raise interest rates
      382 7 Reuter TAIPEI An anti-inflation package announced by Taiwan's central bank on Wednesday is likely to dampen the property and stock markets and eventually push long-term interest rates higher, analysts said. "The new measures show the central bank's determination to bring
      Reuter  -  382 words
    • Article
      Lock icon Germans, British re-think plans for European unity
      443 7 NYT, Reuter, AFP BERLIN Second thoughts about a treaty on the European Community's monetary and political union continue to multiply in Germany and Britain as politicians in the EC embark on a high-profile campaign to counter the growing public sentiment. German opposition to
      NYT,; Reuter,; AFP  -  443 words
    • WORLD WATCH
      • Article
        China must open up trade to avoid sanctions: US
        94 7 WASHINGTON China has moved to open up some of its markets to foreign goods but it has to do far more to avoid tough trade sanetions in Oetober, a senior American official said on Thursday. The official, who asked not to
        94 words
      • Article
        Czech, Slovak leaders still at odds
        65 7 PRAGUE The Czech and Slovak rivals charged with governing Czechoslovakia failed again on Thursday to resolve differences over how to prevent the federation from splitting apart. "Our initial positions have not changed," said federal Finance Minister Vaclav Klaus, who won last week's elections in
        65 words
      • Article
        UN plans airlift to Sarajevo
        79 7 BELGRADE United Nations peace-keepers began talks on an emergency airlift to Sarajevo's 300,000 civilians who have been deprived of food, water and medical care in a two-month siege by Serbs of the Bosnian capital. Meanwhile, in Belgrade, hundreds of Serbian taxi drivers blocked streets and
        79 words
      • Article
        Constitution talks at impasse
        72 7 Ottawa Three months of bitter talks over constitutional changes aimed at keeping Canada together ended on Thursday without any clear resolution. The Canadian government had threatened to act unilaterally if it and the country's 10 provinces could not reach an agreement on a new constitutional set-up.
        72 words
      • Article
        Prices of Tokyo houses dip
        105 7 TOKYO The price of an average house in the Tokyo area is more than eight times the average annual income for a white-collar worker, Japan's National Land Agency said yesterday. According to the agency's annual report on land, a Tokyo house costs 6.8 million yen
        105 words
    • Article
      Lock icon Decrees lifting barriers to Russian privatisation soon
      501 7 NYT, AP MOSCOW President Boris Yeltsin said on Thursday that he would soon issue decrees lifting some of the major barriers to privatisation. But at the same time he declared he would not permit the West to dictate economic policy to Russia, even
      NYT,; AP  -  501 words
    • Article
      Lock icon One year after, Yeltsin faces attacks from left and right
      581 7 Reuter MOSCOW Boris Yeltsin pays homage at the altar of the Russian Orthodox Church this weekend, appealing to the national unity that seems to be slipping from his grasp one year after his election as president. "In church, I feel
      Reuter  -  581 words
    • Article, Illustration
      Lock icon Perot calls for ban on foreigners lobbying Congress
      398 7 IHT WASHINGTON In a direct attack on the campaign of President George Bush, Ross Perot, the unofficial independent candidate for president, has called for laws that would ban lobbying of the US Congress by foreign nations, foreign companies and foreign individuals. Speaking
      IHT  -  398 words
    • Article
      Lock icon 'Land of Gems' runs out of stones, plans imports
      523 7 Reuter COLOMBO The legendary traveller Marco Polo once wrote of seeing a "flawless ruby a span long and quite as thick as a man's arm" in a Sri Lankan temple. King Solomon is said to have presented the Queen ot Sheba
      Reuter  -  523 words
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      Page 7 Advertisements Column 1
      151 7 BUSINE S S T 1 M Toll It— T1 Wo 737 OQ*3 Fw No: 734 3688 f° FRASER securities pte ltd Xtabtr Ciatm s,,tk Ei(kii(« if Sii(iM'< Lti f Member Company of The Stock Exchange of Singapore Ltd An associate company of Arab-Malaysian Merchant Bank Bhd We invite applications for
      151 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Foreign funds continue to fuel stock prices
      932 8  -  By Magdalene Ng THE CONTINUED inflow of institutional funds pushed Singapore share prices to a firmer close yesterday on healthy volumes. The Straits Times Industrials Index, the market's barometer, ended at 1,516.87, higher by 5.46 points. The broader-based BT-MGA Index added 1.32 points
      932 words
    • Article, Illustration
      Lock icon HOT STOCK
      66 8  -  By Anthony Pang Comment THIS STOCK came to life yesterday, piercing its $1.00 resistance level on heavy volume. Although a slight pullback may take place, medium-term indicators are pointing to the possible start of a rally. Thirteenweek RSI is rising and still at a healthy level of about
      SOURCE: BRIDGE INFO  -  66 words
    • Article
      Untitled
      2582 8 Gr's Gr's 1992 Tel Cuit last Vol Day last Quote Di» Div V'ld Net M Cap High Low Code Company Traded Sale +or- ('000) High Low Buyer Seller CVt P/E Smil INDUSTRIAL AND COMMERCIAL 220 170 1000 Acma 193 *d +4 1S8 194 190 193 195 12.2 2.1 6.3 U.O
      2,582 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3187 9 DBS Foreign 1450 40 2.8% Metro HWgs 446 +20 +4.7% Alliance lech 85 +15 +214% City Dev 50« 446 +14 3.2% Jurong Eng 50* 340 +12 1 3.7% l.um Chang 50* 110 11' 11.7% l.um Chang Wt 44 I0'<> +31.3% Asia Pacific 1080 +10 0.9%
    3,187 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      136 9 sh-nJ YOUR KEY TO BETTERBUSINESS DECISIONS! Shinc is Singapore l>rcss foldings' inforich database financial statements highlights, graphs, latest results team. T. S. Liu on 740 1035,1 lazel Ong on 740 1771 on Teleview, which incidentally is the most advanced and company news. ony j m videotex, system in the world.
      136 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks edge up on speculative interest
      1035 11 Bernama SHARE PRICES on the Kuala Lumpur Stock Exchange closed on a steadier note yesterday with speculative interest for the higher priced stocks lifting market sentiment. The KLSE Composite Index added 1.03 points to 590.55, the Industrial Index 4.09 points to 1,029.18 and the
      Bernama  -  1,035 words
    • Article
      Untitled
      4139 11 1992 Last Vol Day Net Cap High Low Tekode Company Sale *000 High Low P/E Smil INDUSTRIALS 221 165 7003 AISB 50* 168 unch 14 169 168 15.0 172.3 414 302 7004 ASM 50« 310 6 250 312 304 16.3 1274.7 650 530 7000 Acidchem 595 20.5 255.8 515 384
      4,139 words
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  • STOCK EXCHANGE OF THAILAND
    • Article, Illustration
      Lock icon Property firms lift index to higher close
      1926 12 Reuter GAINS in two major property shares amid heavy trade pushed the stock index to a higher close despite declines in most shares, brokers said yesterday. The SET index ended 3.46 points higher at 740.69 on a turnover of 7.18 billion baht. The
      Reuter; Source: Bridge Info  -  1,926 words
  • JAKARTA STOCK EXCHANGE
    • Article, Illustration
      Lock icon Shares sink on strong selling pressure
      1191 12 Reuter STRONG SELLING interest put pressure on Jakarta stocks, bringing most prices down on yesterday's fairly active half-day trade, brokers said. Blue chip Astra International fell 150 rupiah to 14,350 and its subsidiary United Tractors closed 250 rupiah lower at 17,300. Textile firm Hadtex
      Reuter; Source: Bridge Info  -  1,191 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Share prices close sharply lower
      2591 13 Reuter STOCKS ended sharply lower yesterday after hopes for activity linked to June futures settlement and the publication in the afternoon ot Bank of Japan quarterly economic survey (tankan) vanished, brokers said. Volume was heavy only at the opening and faded the rest ot the
      Reuter  -  2,591 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Late bargain-hunting pares losses
      2715 13 Reuter STOCKS pared losses at the close yesterday as bargain hunters who sparked an early morning rally re-emerged late, brokers said. The blue chip Hang Seng Index slipped 7.47 points to close the week at 5,819.07 after hitting a low of 5,786.42 at mid-afternoon on profit
      Reuter  -  2,715 words
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  • AUSTRALIAN STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks close weaker in lacklustre market
      2094 14 Reuter SALFS of a few key stocks by some players closed the lacklustre Australian market on a weak note yesterday, brokers said. "It's a very spotty market at the moment .people just don't want to play the game," said Hambros Equities director John Bowie
      Reuter; Source: Bridge Info  -  2,094 words
  • Seoul stocks close lower on lack of confidence
    • Article
      Untitled
      417 14 Manila June II Peso +/-Vol (000) A.Soriano Corp I 660 Abra Mining Corp 009 unch 1000 Alcom Pet 048 .001 ***** Alcorn Pet -B 055 .005 ***** Anglo Phil-Oil A 007 Apex Mining A 004 Ape* Mining B 004 Atlas Cons A 14.000 Atlas Cons B 14.000 -.750 AtlasFerA 15.000
      417 words
    • Article
      SEOUL
      847 14 SEOUL stocks closed down in weak trading yesterday as investors continued to sell their shares on the belief that the government's recent market boosting measures contained little substance, brokers said. "Without any noticeable intervention by the Korea Securities Stablisation Fund and institutional investors, the index slid slowly," Lee Sang-koo
      847 words
    • Article
      NEW ZEALAND
      366 14 THE New Zealand share market looks set to resume its upward momentum of late May next week after closing higher for the first time in six days. Resurgent interest in leaders Brierley Investments, up four cents at New Zealand 96 cents, and Telecom Corporation, up three cents at
      366 words
    • Article
      BOMBAY
      66 14 THE Bombay Stock Exchange (BSE) was closed on Thursday to enable brokers to complete settlement work. It was also closed yesterday for a Muslim festival. Brokers expected the market to rise when it reopens on Monday because of anticipated good corporate results. On Wednesday, the Bombay Stock Exchange Index
      66 words
    • Article
      Untitled
      47 14 Close Previous une 12 NEW ZEALAND N7.SF.-40 Capital 1.543.16 1.534.04 9.12 MANILA Composite Index unav 1.580.95 Turnover (mil pesos) unav unav TAIPEI Weighted Price Index 4.681.07 4.597.19 +83.88 Turnover (NTS billion) 41.86 38.48 +3.38 SEOUL Composite Stock Index 566.20 570.50 -4.3 Turnover (billion won) 204.82 269.96 -65.14
      47 words
    • Article
      TAIPEI
      522 14 TAIWAN stocks closed higher across the board in the heaviest trade in over three months on enthusiastic buying, brokers said yesterday. The weighted index ended 83.88 points or 1.8 per cent higher at 4,681.07. Turnover climbed to NT$4l.B billion from Thursday's NT538.48 billion. Brokers said sentiment was positive as
      522 words
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  • WORLD STOCK MARKETS
    • Fears over economy weigh on Wall St
      • Article, Illustration
        NEW YORK
        1290 15 PROGRAMS late in the session and a bounce in some recent laggards helped bring relief to a beleaguered US stock market on Thursday. But shares still ended mixed, as worries about the tepid economic recovery and corporate profits tempered buying interest. After losing 61 points in the past
        1,290 words
      • Article
        FRANKFURT
        351 15 GERMAN shares drifted lower on Thursday, following declines in share prices in the US and elsewhere. But traders said they were optimistic that the 30-share DAX index, which fell 7.95 points to 1,781.81 on Thursday, would hold above technical support be- twcen 1,775 and 1,780. "There's a lack of
        351 words
      • Article
        Untitled
        82 15 June 11 (W Pruioift NEW YORK Dow Jones 3.351.51 3343.22 8 29 SAP MM) 409 05 4IJ7.25 f|K() Turnover (million) 192.9 206 5 -13.6 LONDON Financial Times 30 2.039.5 2.057.3 -17.8 ITSF 100 2.614.1 2.636.1 -22 Turnover (million) 597.7 472.6 125.1 FRANKFURT DAX Index 1.781 81 1.789.76 -7 95 AMSTERDAM
        82 words
      • Article
        AMSTERDAM
        209 15 DUTCH shares extended their losses in slow afternoon trade on Thursday, in response to early losses on Wall Street and disappointing US retail sales. Two previous weak Wall Street sessions had earlier weighed on prices. The EOE index ended 2.37 points down at 314.60. Traders cited the lower dollar
        209 words
      • Article
        PARIS
        230 15 A SELL-OFF in cyclical stocks that have attracted buyers over the last couple of months pushed French share prices to a sharply lower close on Thursday. The CAC-40 index ended 24.89 points or 1.27 per cent lower at 1,928.84. but above its day's low of 1,914.49. Volume was some
        230 words
      • Article, Illustration
        LONDON
        918 15 UK SHARE prices on Thursday closed sharply weaker overall, pressured by fresh concerns about economic recovery and by weakness on Wall Street, dealers said. The FTSE 100 ended 22 points down at 2,614.1. News from the Confederation of British Industry (CB1) that the post-election rise in retail sales was
        918 words
      • Article
        MILAN
        133 15 ELECTRONIC price feeds that transmit data from the Milan bourse to brokers' officcs via the stock exehange's own system and the rest of the market through quote vendors failed on Thursday, traders said. But dealing continued on the floor of the bourse, with operators writing prices and trades down
        133 words
      • Article
        JOHANNESBURG
        288 15 THF JSE Industrial Index ended at 4.611 on Thursday, down 46 from 4.657 the previous day. Other markets in Europe, South Africa and Canada Johannesburg June 9 Rand INDUSTRIALS A Alpha 4350 unch A FX I 965 unch AMIC HMO Hill Abercom 125 Amaprop 635 BA/ 1300 Barlows 59<X)
        288 words
      • Article
        TORONTO
        171 15 LATE strength in gold shares combined with a turnaround in banks and telecom shares to push Toronto blue chips higher on Thursday, dealers said. "It was quite surprisingly strong," said Catherine Beattie. a technical analyst with MMS. But the broad market ended mixed. "We closed at the high for
        171 words
      • Article
        STOCKHOLM
        203 15 SWEDISH shares ended lower in subdued trade on Thursday, with a slight recovery in depressed bank shares adding a spark of life for the second day running. The Stockholm bourse general index closed down 0.56 per cent at 942.48 in light turnover of 480 crowns. The index of top-16
        203 words
      • Article
        ZURICH
        277 15 SWISS shares closed lower on Thursday in lively trading with banks and insurers dragging prices down, dealers said. The industrial sector, and chemicals in particular, were hit by profit-taking, thev added. Wall Street's weak performance in early trading added some downward pressure. The all-share SPI index closed 14.4 points
        277 words
      • Article
        Untitled
        287 15 Brussels .Iiiik- II Irancs FORWARD MARKET Accc 2520 7(1 Arbed 42X0 X5 Astur Brascan Canpac 516 14 Cock I?5 +1 IX- Beers 834 2 thes 7730 GBelg(P) 2175 -25 Gb-lnno-Bm 1462 Gevaeit 6720 230 Gr Bru Umb 3270 25 Hobok Petro ***** 150 Ryl Dutch 2880 35 SidfO 16H0 40
        287 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback stays firm despite rumours of selling by BOJ
      1204 16 REPORTS ASIA TOKYO: The US dollar closed higher against the yen and the mark in Tokyo yesterday mainly on short-covering and importer buying, dealers said. Widespread rumours that the Bank of Japan (BOJ) may have sold dollars in the morning failed
      1,204 words
    • Article
      Lock icon Japanese investors switch to Canadian bonds after Denmark snubs EC
      332 16 Reuter TOKYO Japanese investors arc shifting some of their funds to Canadian dollar bonds from European bonds, after Denmark's rejection of the Maastricht Treaty, portfolio managers said on Thursday. "Canadian dollar-denomi-nated bonds are very attractive." said Tsuyoshi Yoshimura. general manager
      Reuter  -  332 words
    • Article
      FINANCIAL FUTURES
      1480 16 SIMEX EURODOLLAR Open High Low Sett Est Vol Act/Vol Op/lnt Jun 92 96 01 9602 96.00 96.01 2150 1751 ***** Sen9"> 95 77 95 78 95.76 95.77 3000 3978 ***** Dec 9"» 9~<i 12 95.15 95.12 95.13 2350 2352 ***** Mar 93 95 01 95.04 95.01 95.02 1550
      1,480 words
    • Article
      INTERBANK FOREX RATES
      390 16 Cross rates June 12 USS SS MS Dm Yen SFr AS NZS uss 1.62.30 2.5130 1.5780 126.30 0.5411 1.4310 1.3123 1.8382 ss 0.6161 1.5484 0.9723 77.8189 0.3334 0.8817 ***** 1.1326 MS 0 3979 0.65 0.6279 50.2587 0.2153 0.5694 0.5222 0.7315 Dm 0.6337 1.0285 1.5925 80.04 0.3429 0.9068
      390 words
    • Article
      MONEY MARKET
      542 16 Interbank rates ss Kid Offer Overnight 1 -month 2-month 3-month Overnight mode: 2 7/8 2 7/8 2 15/16 3 2-1 VI6 3 3 3 1/16 3 1/8 US$ Bid Offer 7 days 1 month 2 months 3 months 6 months 9 months 12 months 3 7/8 3 7/8
      542 words
  • Page 16 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Brazil most affected by poor cocoa prices
      348 17 Reuter RIO DE JANEIRO Brazil is the only major producer feeling the effects of plummeting world cocoa prices, which this week hit 19-year lows, the country's traders say. "The world reduction in cocoa production is here. The Ivory Coast is chugging away merrily
      Reuter  -  348 words
    • Article
      Lock icon Rubber producers to hold talks on new trading system
      353 17 Reuter KUALA LUMPUR The world's major rubber producers will study ways to improve pricing mechanisms to lift the flagging industry in Singapore next week, the Association of Natural Rubber Producing Countries (ANRPC) said yesterday. The group will propose alternative systems to
      Reuter  -  353 words
    • Article
      KL tin ends seven sen lower in sell-off
      732 17 REPORTS THE Kuala Lumpur Tin Market (KLTM) closcd seven sen lower at Msl6 a kg yesterday after touching an 18month high of 16.07 on Wednesday, mainly due to a technical correction and higher disposals, traders said. "Miners started to sell after seeing
      732 words
  • Article
    PRICES
    1639 17 Rubber MRELB (fob in bales) (M cents/kg) Noon Close Int 1 RSS July 92 221.50/223.50N 221.50/223.50 Int 2 RSS OP 219.50/220.50N 219 50/220.50N UK/Cont 218.50/219 50N 218.50/219.50N Int 3 RSS OP 217.00/218.00N 217 00/218 OON UK/Cont 216 00/217 OON 216.00/217 OON Int 4 RSS OP 214.00/215.00N 214 00/215 .OON
    1,639 words
  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      636 17 BUSINESS TIMES Toll free Tel No 737 0043 -Fax No: 734 3698 IN THE MATTER OF THE COMPANIES ACT. CHAPTER 50 ANO IN THE MATTER OF APR INVESTMENTS PTE LTD NOTICE IS HEREBY GIVEN that the creditors ot the atiovenained company, which is to be struck oft aie inquired ori
      636 words
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  • Article
    Lock icon Anand may act against crackdown generals
    513 18 Military will not be allowed to interfere in Cabinet line-up: PM AFP, Reuter -BANGKOK Thailand's caretaker prime minister, Anand Panyarachun, has not ruled out the possibility of taking action against senior military officers responsible for the bloody crackdown on pro-democracy demonstrators, it was reported
    AFP,; Reuter  -  513 words
  • Article, Illustration
    Lock icon Cambodian peace efforts in jeopardy
    237 18 Khmer Rouge leader to boycott aid meeting in Tokyo Reuter ■>HNOM PENH Khmer Hlouge president Khieu SamRhan has dealt another blow Ho Cambodian peace efforts, paying he would boycott an International meeting in Tokyo on aid for his warhattered country. Khieu Samphan told reporters he
    Reuter  -  237 words
  • Article
    Lock icon Problems of ex-Soviets to feature at BIS meeting
    548 18 Focus also on EMU outlook after Danish vote Reuter ZURICH The financial s-jproblems of the former Soviet Union are likely to be high on the agenda when central bankers from around the world gather in Switzerland this weekend. But officials said the
    Reuter  -  548 words
  • Article
    Lock icon US House narrowly rejects balanced budget measure
    314 18 AP WASHINGTON The House narrowly killed a bal-anced-budget amendment to the Constitution on Thursday, dooming a plan supporters touted as the last, best hope for controlling federal deficits but opponents derided as an election-year sham. The vote was 280-153, shy of the two-thirds
    AP  -  314 words
  • Article
    Lock icon US May consumer prices inch up 0.1pc
    252 18 Reuter WASHINGTON US consumer prices rose a slight 0.1 per cent in May, the government said yesterday, suggesting that the tepid recovery is holding down inflation at the retail level. The rise followed a 0.2 per cent increase in April. It reflected some
    Reuter  -  252 words
  • Article
    Lock icon China plans drastic steps to liberalise economy
    406 18 AFP, AP BEIJING China has decided to make fundamental structural changes in its economy by transferring more power to the provinces and making large cuts in government personnel, said sources here yesterday. A Communist Party Central Committee document now being circulated among senior
    AFP,; AP  -  406 words
  • Article, Illustration
    Lock icon EC offers US$4b for specific projects as Summit opens
    383 18 The Earth Summit Reuter, AP. AFP RIO DE JANEIRO The UN-sponsored Earth Summit opened yesterday with the European Community committing more than US$4 billion (556.5 billion) for specific environmental projects. The pledge, some of which was completely new funding, was the
    Reuter,; AP.; AFP  -  383 words
  • Article
    Lock icon Japan's Socialists threaten to resign en bloc over Bill
    325 18 Reuter TOKYO Japan's Lower House of Parliament went into session yesterday to consider giving final approval to a controversial troops Bill. A showdown between ruling and opposition parties over the Peace-Keeping Operations (PKO) Bill intensified when the Socialists threatened to resign
    Reuter  -  325 words
  • Article
    Lock icon India makes raising funds on capital market easier
    272 18 AFP BOMBAY The Indian government has announced a new set of guidelines which are expected to make it easier for companies to raise money on the capital market and make Indian firms more accountable to investors. The Securities and Exchange Board of
    AFP  -  272 words
  • Page 18 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      Busk and go bust?
      1367 19  -  Yes, you can busk in Singapore, but only if takings are donated to charity. Will this foster the arts scene or will it hamper artists who, after all, need to eat? Is sponsorship the answer? Jaime Ee and Susan Tsang find out Jaime Ee,Susan Tsang CALL
      1,367 words
    • STRAWS IN THE WIND
      • Article
        Perotphernalia
        217 19 ACCORDING to the New York Times, US Presidential candidate Ross Perot is proving to be an irresistible target for name puns. Already, a magazine article describing him as paranoid was entitled "Perotnoia". Another commentator referred with Shakespearean sarcasm to .the idyllic world of Pros-Perot. Here are some more Perot
        217 words
    • OPINIONS
      • Article, Illustration
        The Perot phenomenon
        1027 20  -  S N Vasuki analyses the American public's fascination with Texan billionaire and aspiring president Ross Perot S N Vasuki The writer is a BT journalist WHEN Ross Perot, the enigmatic American billionaire, told CNN's talk show host Larry King in April he would consider giving the American
        1,027 words
      • Article, Illustration
        Policy that doesn't help tyranny's victims
        752 20  -  Anthony Lewis questions the value of President Bush's policy of constructive engagement with regard to China's treatment of its dissidents Anthony Lewis I he writer is a New York I imes columnist WHEN President Bush last week extended trade preferences to China for another
        752 words
      • Article
        Towards a cleaner, braver world yonder
        587 20  -  The Earth Summit is a success, says Said Abdullah Said Abdullah The writer works on BTs Foreign Deik THE EARTH Summit may not achieve anything substantial by this weekend when 120 heads of state start leaving the Brazilian capital of Rio de Janeiro, having
        587 words
      • Article
        Shareholders' association needed
        322 20  -  Dr R C Cooper Singapore 0617 YOUR correspondent Conrad Raj has brought up a number of matters of concern to the shareholders of ANA Hotels Singapore (BT, June 8). Among his long list of complaints: company not paying dividends since its listing in 1982; huge accumulated losses;
        322 words
      • Article
        Sisir, not ISO, awards 9000 certificates
        178 20  -  Lee Pin Pin (Ms) Public Relations Executive Singapore Institute of Standards and Industrial Research IN YOUR report headlined "Local shipmanager hopes to gain ISO certificate" (BT. June 9), it was stated that the ISO 9002 is "awarded by the Geneva-based International Standards Organisation". You
        178 words
      • Article
        Asia-Pac air travel market does not rely on Japan
        221 20  -  Rob Dunsterville Director, International Sales and Marketing Asian Aerospace *94 MR Neil Weinberg comments an his article "South-east Asia's hi£»fliers" (Shipping Times, June*fc, 1992, reproduced from the Financial Times) that "the major bottleneck at present and future key to Asia Pacific
        221 words
      • Article
        Dispute over charter terms, not service
        81 20  -  R A S Rajapakse Manager, Singapore and Malaysia, Airlanka I REFER to the AP article which appeared in BT's shipping section on May 27 under the heading "Bad service forces Air Lanka plane to return". The incident mentioned therein arose out of a difference
        81 words
    • LIFESTYLE 1
      • Article, Illustration
        Mr Marvellous
        649 21  -  Singapore Festival of Arts '92 Claire Leow is bowled over by Omer Veilleux Claire Leow OMER Veilleux is a Jack of all trades. He is actor extraordinaire, mime artiste and a keen observer of life. Omer is the creation of Yves Dagenais, the artistic director of Omer Veilleux
        649 words
      • Article, Illustration
        Spreading sunshine and cheer
        604 21  -  Susan Tsang reviews a production of Annie that's guaranteed to clear away the cobwebs and the sorrow Susan Tsang A T first sight, it looked like The Sound of Music again. There were seven unbearably cute children on stage, singing. They even lined up to a
        604 words
      • Article, Illustration
        Guitar man
        893 21  -  Nirmal Ghosh recalls the fortnight he spent busking in Hamburg Nirmal Ghosh SUNDAY was bad for busking. Hamburg was cold, and the streets were empty. Any cold day "was bad as well, because people ."avoided shopping and the glittering malls were deserted. So buskers went underground, limited to
        893 words
      • Article, Illustration
        The Bollinger style of drinking
        846 23  -  WINE By N K Yong THF.RE can be few more redoubtable women in the history of wine than Madame Bollinger of the renowned champagne house of Bollinger. In the middle of the German occupation of France, her husband Jacques died and she had to take
        846 words
      • Article, Illustration
        More expected to participate in Epson's contest
        442 23  -  BRIDGE By Sybil Holloway THE 7th Epson World Simultaneous Bridge contest will take place on two consecutive days this year with nearly 95 countries, among which Haiti and the Fiji isles will be participating for the first time. Entries are expected to exceed
        442 words
    • EPICURE
      • Article, Illustration
        Pleasures of Provence
        548 22  -  Nirmal Ghosh discovers many dishes to write home about at Maxim's Nirmal Ghosh MAXIM's, that bastion of French cuisine and meeting ground of celebrities, has gone south, to Provence to be exact. In a current, month-long Provencale food binge, Maxim's de Paris is offering a range of
        548 words
    • PEOPLE
      • Article, Illustration
        Lock icon A Japanese remedy for the evening
        151 23 POP a pill and think of Takeda. That's how Japanese pharmaceutical company Takeda Chemical Industries would like to be remembered. The company opened a regional office in Singapore recently, and invited many in the health industry to join in the festivities. For sure, if
        Photos by Arthur Lee  -  151 words
      • Article, Illustration
        Sourcing for energy
        135 23 LET there be light. There should be, considering that several Asean heads of utility organisations were in Singapore recently tor a two-day Conference on Asean Electricity. Among the topics covered was how the private sector could benefit from growing energy demands By the end of the conference,
        135 words
    • PURSUITS 1
      • Article, Illustration
        Space treats
        534 24  -  Star Trek VI differs from its predecessors in that it is a hugely satisfying movie. Susan Tsang holds her breath as the Enterprise crew once again rush to the rescue of civilisation Susan Tsang N THEIR sixth and (we think) final B journey, Captain M Kirk's enterprising C
        534 words
      • Article, Illustration
        Rock 'n roll for survivors
        624 24  -  CD Review By RINGO LIEW TOM COCHRANE: Mad Mad World It's truly a mad, mad world when Tom Cochrane has to toil in the netherworld of provincial greatness in his native Canada while compatriot Bryan Adams remember Everything I Do (I Do It For You)
        624 words
      • Article, Illustration
        Wings over Vietnam
        757 25  -  The skv is for adventurers. Juliette Walker talks to the pilot who made the first private flight into Vietnam, while Nirmal Ghosh reports on the Singapore contingent that s heading for the aviation Mecca of Oshkosh Nirmal Ghosh Juliette Walker THE single-engine plane roars above the South
        757 words
      • Article, Illustration
        Lock icon Rhapsody in white
        703 25  -  Nirmal Ghosh takes a close look at the uniquely designed Baha'i House of Worship in New Delhi Nirmal Ghosh THE spiny fins are reminiscent of the Sydney Opera House, but they are closed in the classic lotus shape. Said architect Fariburz Sahba of the vision in white
        Photo by Sirmal Ghosh  -  703 words
      • Article, Illustration
        Oshkosh, here we come
        630 25 FOR one week beginning at the end of July, a sleepy place called Oshkosh in Wisconsin, USA, becomes the busiest airport in the world. Aircraft of all sizes and vintages buzz about like bees from a disturbed hive, and some 5,000 volunteers are equally busy running
        630 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        An instant hit with investors
        1333 26  -  Last Friday, Liang Court Holdings offered 103.47 million new shares to the public at 70 cents apiece. Magdalene Ng examines how attractive the offer is STOCK Magdalene Ng Liang court Holdings Ltd's public share offer is an instant hit with investors, judging from comments circulating
        1,333 words
      • Article
        Banks make profits from poor credits
        863 26  -  The secured credit card gives bad-risk customers high-cost credit. Suzanne Woolley finds out more about these cards Suzanne Woolley WHAT'S the best way to make money in the creditcard business? To most card issuers, the answer is easy: Go after the best risks. But
        863 words
      • Article, Illustration
        STI Index seen to fluctuate in broader band this year
        522 26  -  CHART_ By Goh Hiang Fong The writer is head of research, Lum Chang Securities SINCE 1985, the average annual fluctuation between the low and the high points on the Straits Time Industrial (STI) Index is about 50 per cent. In
        522 words
      • Article
        Waiting for a change in fortunes
        1807 27  -  Buoyant prices in Hongkong's residential property market appear to be headed for a slowdown, according to an economic survey by Hongkongßank. Kooi Cho Teng reports Kooi Cho Teng THE property market in Hongkong appears to be headed for a slowdown this year, weighed down
        1,807 words
    • SPORTS
      • SIDE LINES
        • Article
          Kiefel wins first stage of Luxembourg Tour
          90 28 DIPPACH, Luxembourg American Ron Kiefel outsprinted four other riders on Thursday to win the tirst stage ot the Four of Luxembourg cycling race. All the pre-race favourites finished 30 minutes behind. Kiefel crossed the line alter tive hours four minutes 16 seconds, ahead
          90 words
        • Article
          Krajicek cruises to victory
          60 28 ROSMALEN, Netherlands Second-seeded Richard Krajicek, on his wav to VVimbledon, easily defeated German Christian Saceanu at the Continental Grass Court Championships on Thursday. The 20-year old Dutchman, ranked 13th in the world, scored five aces to win 6-3, 6-4 against 118th-ranked Saceanu in the round two
          60 words
        • Article
          Hall leads close pack in Austria
          59 28 HENNDORF AM WALLERSEE, Austria Patrick Hall of England shot a 7-under-par 65 on Thursday to take a one-stroke lead after the first round of the Mitsubishi Austrian Open golf tournament. Five players were close on his heels, finishing the round tied at 66, and
          59 words
        • Article
          Blanco wins IBF flyweight title
          92 28 BILBAO, Spain Colombian Rodolfo Blanco claimed the International Boxing Federation world flyweight title with a unanimous 12-round decision on Thursday over defending champion Dave McAuley of Northern Ireland. Blanco dominated the first five rounds with his strong left hand, but McAuley, 30, began to successfully
          92 words
        • Article
          Yes to sale of Seattle Mariners
          88 28 NEW YORK The sale of the Seattle Mariners to a Japanese-led investment group was approved here on Thursday by a 25-1 vote by the owners of major league baseball clubs. The American and National leagues, who approved the US$l25 million (Ss2o4 million) deal in
          88 words
      • Article, Illustration
        Lock icon Mansell marks a year of domination
        520 28 AFP MONTREAL Nigel Mansell was heartbroken after last year's Canadian Grand Prix. The chequered flag in sight a half mile from breaking Ayrton Senna's then record of four consecutive championship victories his car ground to a halt. The Briton's grand prix hopes were crushed
        AFP  -  520 words
      • Article, Illustration
        Emerging from the shadows of Carl Lewis
        600 28 SEVILLE, Spain Dennis Mitchell is the forgotten man of American sprinting. In any other country, he'd be a national hero. In the United States, he runs in the shadows of Carl Lewis and Ixroy Burrell. That could all change in less than 10
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      • Article, Illustration
        Lock icon Cash crushes two seeds
        466 28 AFP LONDON Former Wimbledon champion Pat Cash showed that playing part-time has cost him none of his fitness when he disposed of two seeds in virtually back-to-back matches at the Queen's tournament here on Thursday. And Japan's Shuzo Matsuoka matched the Australian's double to make it
        AFP  -  466 words
      • Article, Illustration
        Lock icon Snead stays ahead with course-record 65 at Senior PGA
        419 28 AP DEARBORN, Michigan J C Snead outduelled playing partner Tommy Aaron on his way to a course-record 65 and a one-shot lead on Thursday in the opening round of the Senior Players Championship. Snead and Aaron blistered the front nine at
        AP  -  419 words
      • Article
        Lock icon Persons holds one-stroke lead at St Jude
        558 28 AP MEMPHIS, Tennessee Peter Persons, who missed the cut in his last two tournaments, had eight birdies in a round of 63 on Thursday for a one-stroke lead over Gil Morgan and Dan Foreman in the opening round of the USSI.I-million (Ssl.B-mil-lion) Federal
        AP  -  558 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1262 29 City Flight ETA Flight ETO Abu MaM GA971 1035 GA976 0145 GA890 0150 UMl Qf 81 1955 QF82 2205 SQ228 2025 Mwtartiaai SQ319 0715 SQ24 0115 KL837 1255 GA890 0150 KL838 2240 SQ342 2255 Attmtt OA473 0110 0A474 2245 btMud NZ21 1820 NZ22 1940 SQ286 2030
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    • THE TRAVEL PAGE
      • Article, Illustration
        Dodging the herd on Limnos island
        596 29  -  POSTCARD FROM GREECE By Michael Thompson-Noel LAST September I enjoyed a pleasant week's holiday at the Akti Myrina hotel on Limnos, a low-lying island in the north-eastern Aegean. The visit was organised by The Best of Greece, a small upmarket tour operator that claims
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      • Article
        FOREIGN CURRENCY NOTE RATES
        151 29 As at 10am yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.2308 1.2475 Canadian dollar 1.3469 1.3742 NZ dollar 0.8726 0.8903 Sterling pound 2.9855 3.0260 US dollar 1.6200 1.6290 Local dollars to 100 anits of foreign currency Austrian schilling 14.42
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      • Article
        WORLD TRADE EXHIBITIONS
        195 29 Duration Title Venue Organiser Tel July 20-24 Elect rot ech NEC. Electron Ltd. 071-*****47 Birmingham London (fax) Aug 16-18 International Munich. Mode-Woche- (49) 89/5024. Fashion Fair Germany Munehen Gmhll 570 (fa*) Aug 22-25 International Frankfurt. Messe Frankfurt (49)69/***** Trade Fair for Germany GmbH Consumer Goods Sep 6-9
        195 words
    • TIME OFF
      • Article, Illustration
        ARTS FESTIVAL
        284 30 Gunong Sayang Association Our Peranakan theatre group will bemoan their 'Fate' in the now familiar patois. Venue: World Trade Centre Auditorium. Today. Bpm. Paco Pena's Flamenco Dance Co This flamenco troupe entertains with its intoxicating music and dance style. Venue: Victoria Theatre. Today. Bpm. The SSO Stravinsky's Rite
        284 words
      • Article
        OTHERS
        152 30  -  Compiled by Yasotha M Concert by Stephane Tran Ngoc and Shane Thio 26-year-old French-Victnam-esc violinist Stephane Tran Ngoc and local pianist Shane Thio will perform works by Veracini, Mozart and Ravel. Venue: Mandarin Court. The Mandarin Singapore. June 17. Bpm Crescent Over the Equator First solo exhibition by local
        152 words
    • Article, Illustration
      CINEMA
      542 30 Beauty And The Beast. The much-awaited Disney production of the classic tale that won a nomination for Best Picture. Orchard: II; 1.30; 4; 6.45; 9.15. Bedok I: I; 3; 5: 7; 9. Broadway 2: I; 3; 5; 7; 9. Odeon-Katong: 1.30; 3.30; 5.30; 7.30; 9.30. Yishun 10: 10.20; II;
      542 words
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      25 20 BT welcomes letters from you. Please address them to: The Kditor, Business l imes, 390 Kim Seng Rd, S'pore 0923.1setters should include your contact numbers.
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  • Page 20 Miscellaneous
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      Page 20 Miscellaneous Column 1
      57 20 DOONESBURY BY GARRY trudeau KXJKNOH BP MY PAST-LIFB BX- ALL YOU HAVE TO DO IS ASK FINS. NOW HOW s££7 YOU DO' WRe YOURSELF WHO YOU REALLY EASY. I'M AdOUTYOURHI&fR A F RST RECOGNIZE SEHSEWYOUIFYOUVJUST ARE, WHO YOUR PRESENT A THIRD- SPIRITUAL SELF, 57*//V6 THE GOD i ACCe&> YOURSELF EARIH-PLANE
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      165 21 M M H ffl 1 How do we know our maxos CDs are outstanding? this little bird told us. g "The Naxos sound, too, is M refreshing and truthful, well m up to the standard..." m "Excellent, vivid recording..." f ft 'The recording is warm and I 1 full, yet
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      797 22 Nothing Beats A Bud. where to wine, dine OP rpmWTTO ooimeejf SUNDAY TEMPTATIONS Every Sunday. Nutmeg's brings to you exquisite culinary surprises, fine wines and champagnes and the relaxing chords of our jazz musicians. Seafood delicacies, Sunday favourites, local specialities and even a touch of American. await the family for
      797 words
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      Page 22 Advertisements Column 2
      332 22 m w' IRfe T* .-t^^HHiH l| i. HE ■k VBfcMflflt^fl You'll enjoy our delicious selection of authentic Beijing Dian Xin served amidst the splendour of an Imperial Court. May we expect you today? P From noon to 2.30 pm. fKCTT I Ala carte menu available. flfflQ <j/XarH&*i* ffi tcryapcr' hlk'ntariiwn
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      240 23 AND ENTERTAIN am Hubertus Grill Goes Austrian Again; The ever popular Austrian Food Promotion is on again at Hubertus Grill... Come savour this annual affair of glorious Austrian specialities... Dinner only 7 pm to 10.30 pm i on i iqqo ANA HOTEL 1 30 June 1992 SINGAPORE F® r reservations,
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      90 26 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS o Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look
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      427 27 Singapore Business Luncheon Talk Metnam has finally thrown open its doors to Singapore investors and —THE SPEAKER everyone wants to cash in. In fact, Singapore is now Vietnam s largest Mr Thai Quang trading partner. TrunQisthe But while opportunities may be tremendous, Singapore businessmen T— J Research have also been
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      Page 27 Advertisements Column 2
      221 27 >TOAN iMM ,1 w HH&^ '^■K' It's Quick and Easy. Get instant 1 counter at any of our 28 branches. Use the loan for any purpose. t Loans from $2,000 to $100,000. HI MANY OF OUR CUSTOMERS HAVE ENJOYED THE BENEFITS! YOU CAN TOO swoapose FIMAHCE LTD %,j.V ■*21' HONG
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  • Page 29 Miscellaneous
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      Page 29 Miscellaneous Column 1
      204 29 10 Girl getting confused with |jjj|^__ 13 Binding cord in neat de16 Prisoner's welcome break? 20 Rascal, that is, got another 27 Still as its unexpurgated form (8) BH—VV—— 28 Locomotive backing two- ill ill!!! wheeler into another ma- L 1 I I I I 1 1 1 DOWN 14
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    • Miscellaneous
      Page 29 Miscellaneous Column 2
      166 29 Singapore Outlook: Showers over several areas in the morning. Report Maximum temperature 29.7 Assoc humidity 65% Minimum temperature 22.5 Assoc humidity 96% Hours of sunshine 2.35 Rainfall in mm 34.1 Rainfall this month 75.0 Rainy days this month 7 World report Asia-Pacific Hi/Lo* Cond. Auckland 19/10 Cloudy Bangkok 35/25 Cloudy
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  • Page 30 Miscellaneous
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      1504 30 TODAY'S TV ammmmmmmim I t t —rn T." /mt»' 900 Riang Ria Bmama Anda. I llilHl 1'• programme Drama Langitku Rumahku, 4.00pm, Today's Gourmet: Cooking for "i 12.00 NNNcws(M). the Family, !2.30pm, SBC 5 |HjS|HH|H<L 4 1 JT i 12.15 PM Keiab Remap AngkaAndri is a rich boy in Jakarta
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    • Miscellaneous
      Page 30 Miscellaneous Column 2
      616 30 MOVIES ON TV Project: Tin Man, Mon, Absolute Strangers, Wed, 3.00pm, SBC 5 10.30pm, SBC 5 An eccentric scientist builds Henry Winkler has to decide himself a walking, talking, between the life of his pregthinking tin man, and gives it nant wife or his unborn baby, a heart. So when
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