The Business Times, 24 October 1992

Microfilm: NL18504
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    17 1 Business Times MITA (P) 35/12/91 Weekend Edition, October 24-25 1992 THE BUS/NESS PAPER FOR S-E ASIA 75*
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  • Article
    Report calls for closure of five London hospitals
    71 1 LONDON A British government report on the state of the London health service yesterday called for the closure or merger of several major teaching hospitals in London. The plans are part of the government's move to transfer money away from large, high-tech-nology
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  • Article
    Serbs stepped up killings before UN arrival
    77 1 GENEVA Serbs stepped up their "ethnic cleansing" campaign in the last two months to uproot Muslims in BosniaHerzegovina before UN peacekeepers arrived, a United Nations investigator said yesterday. Tadeusz Mazowiecki, the special UN human rights envoy for former Yugoslavia, also urged a full
    77 words
  • Article
    Dow higher
    40 1 WALL STREET stocks were mixed early yesterday. The Dow Jones average of 30 industrials slipped 1.08 points in the first half hour but then turned higher to show a 6.49point gain at 3,207.37 one hour after the opening.
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  • Article
    Footsie lower
    20 1 LONDON share prices were lower at midday yesterday. The FT-SE 100-share index was down 2.3 points at 2,655.8.
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  • Article
    Batam rent freeze
    36 1 FACTORY rents for the $600 million Batam Industrial Park will be frozen in the next three years. Utilities charges will be cut in phases as more tenants sign on, say officials. Page 2
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  • Article
    Plan to raise stake
    31 1 AVIATION leasing operator Malaysian Helicopter Services Bhd wants to raise its 40 per cent stake in bulk and general cargo carrier Perbadanan Nasional Shipping Line. Page 3
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  • Article
    S-E Asian power grid
    28 1 SOUTH-EAST Asian nations are considering sharing a US$lO billion power grid. Malaysia will be coordinating the project, say Tenaga Nasional Bhd officials Page 6
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  • Article
    US layoffs on the rise
    27 1 LAY-OFFS and job eliminations in American corporations could reach record numbers in 1993, according to a survey released on Thursday. Page 7
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  • Article
    STOCK INDICES
    29 1 Friday Change BT-MGA 647.45 +15.36 Kuala Lumpur ....630.07 6.20 Tokyo 17,117.65 +104.61 Hongkong 6,262.54 -66.58 Sydney 1,455.5 +7.4 Thursday Change New York 3,200.88 +13.78 London 2,658.1 +12.4
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  • Article
    CURRENCIES
    22 1 Exchange rates USS SS 1.6150 100 Yen SS 1.3309 MS SS 0.6451 Money market rates Overnight 2% +3/4 3-month 115/16% +1/16
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  • Article
    COMMODITIES
    34 1 London Gold AM fix US$343.60 US$0.80 Rubber S'pore Nov I42.50»/kg -0.50 M'sia Nov 222.00Vkg -1.50 KL Tin Turnover 17tonnes -36 Spot M$14.30/kg +0.12 Crude palm oil Turnover l,8561o(s +390 Nov M$909 /tonne +16
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  • Article, Illustration
    S'pore stocks soar on the back of good trade figures
    503 1  -  Frenetic buying sends STII up 35 points By S N Vasuki SINGAPORE It was a rally that was not supposed to happen at least that was the considered view of investors, stockbrokers and analysts. But yesterday, the Singapore stock market
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  • Article
    Lock icon Kohl and Major trying to kickstart Gatt talks
    397 1 Bid to get high-level US-EC talks going again AFP, FT LONDON German Chancellor Helmut Kohl and British Prime Minister John Major yesterday launched a new push to relaunch Gatt world trade talks which have been blocked by a US-French quarrel over farm
    AFP,; FT  -  397 words
  • Article
    Afta meeting reconvened as differences are cleared up
    472 1  -  24th Asean Economic Ministers meeting From Yang Razali Kassim in MANILA ASEAN economic ministers ended their two-day meeting here yesterday with a closing of ranks over their plan for an Asean Free Trade Area (Afta). Patching up differences between Thailand and the
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  • Article
    China threatens to roll back HK reforms in 1997
    524 1 Beijing also warns of dropping support for airport project BEIJING China bluntly warned Britain yesterday that if it pressed ahead unilaterally with democratic reforms in Hongkong, Beijing would roll them back when it takes over in 1997. In a furious reaction
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      499 1 Nikon I', flfr nin •nv ffono I rinw rDoiOQripnK syntfn. COVER VIEWPOINT REVIEWS PURSUITS B|^ New directions ffiSDv Corporate Walter Woon 1492 Guide for buys in in Singapore sponsors speaks out Conquest of beach-bums el i the market el 8 cinema Pi I for the Arts against idiocy Paradise An
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      Page 1 Advertisements Column 2
      10 1 Nikon TVwWbftd'tFkiMt PtwimMpmc The rough road ahead for Hongkong, EL2
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  • PAGE 2 NEWS
    • Article
      Batam park to freeze factory rents for 3 years
      569 2  -  Move part of measures to keep tenants cost-competitive By Genevieve Cua SINGAPORE To allay fears over rising costs in Batam, officials behind the $600 million Batam Industrial Park will freeze factory rents for the next three years and cut utilities charges
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    • Article
      Batamindo pumping another $158m into Batam Industrial Park
      314 2  -  By Lilian Ang SINGAPORE Industrial developer Batamindo plans to spend another $158 million over the next three years expanding its fast-growing Batam Industrial Park. The managing director of Batamindo Industrial Management, Goh Song How, said the company which manages the mini-industrial town
      314 words
    • Article
      Firms likely to dish out higher merit increments next year: survey
      342 2  -  By Anna Teo SINGAPORE While the overall basic salary increase is expected to drop next year, individual merit increments are forecast to be higher, according to a survey by Hewitt Associates. The survey of 119 Singapore companies by Hewitt,
      342 words
    • Article, Illustration
      Heng Long tannery goes high-tech
      214 2 SINGAPORE Heng Long Leather Co (Pte) Ltd, a leading local crocodile-leather tannery, hopes to crack the European and US markets, said director Koh Choon Heong yesterday at the opening of its $7 million automated production plant. "With our improvement in equipment and automation, we can
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    • Article
      BA overtakes SIA as most profitable carrier: report
      471 2  -  By Dexter Lee SINGAPORE National carrier Singapore Airlines has lost its status as the world's most profitable carrier to British Airways, according to a report in the latest issue of Fortune magazine. But while SIA slipped a rung, Asian counterparts such as
      471 words
    • Article
      Conner Peripherals to acquire tape drive firm Archive in surprise move
      312 2  -  By Claire Leow SINGAPORE Disk drive maker Conner Peripherals yesterday announced the surprise acquisition of a fellow Califomian firm, the tape drive company Archive Corp. Both make memoryproducts used in computers. And both their manufactur- ing plants here were
      312 words
    • Article
      Consumer price index up 0.1pc in September
      53 2 THE Consumer Price Index'* (CPI) rose 0.1 per cent in September compared with Au- gust. Figures released yesterday show clothing costs rose 1.4 per cent, while housing, transport and communications 7 costs remained unchanged. The increase over the September 1991 CPI figure was
      53 words
    • Article
      Call for urgency on Afta amid Gatt impasse
      496 2  -  24th Asean Economic Ministers Meeting Reports by Yang Razali Kassim in MANILA MANILA Asean economic ministers yesterday pressed home the urgency for a stronger push on an Asean Free Trade Area, following the breakdown in the latest round of Gatt talks. Expressing
      496 words
    • Article
      Window of opportunity for Singaporeans
      328 2 MANILA The latest round of the Ascan Economic Ministers Meeting, which ended here yesterday, has opened up new opportunities for Singapore businessmen, said Deputy Prime Minister Lee Hsicn Loong. BG Lee, who is also Trade and Industry Minister, told Singapore journalists here that there would
      328 words
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      Page 2 Advertisements Column 1
      389 2 businesshmes Toll-free Tel No :737-0043 Fax No: 734-3698 EU YAN SANG HOLDINGS LIMITED (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 20th Annual General Meeting of the Company will be held at the Board Room of the office of Eu Yan
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  • COMPANY NEWS 1
    • Article
      MHS seeking to raise stake in shipping line
      643 3  -  From William Chia in KUALA LUMPUR AVIATION leasing operator Malaysian Helicopter Services Bhd wants to lift its stake in bulk and general cargo carrier Perbadanan Nasional Shipping Line. MHS, which has a 40 per cent holding in the fastgrowing shipping line, has
      643 words
    • Article
      Jaya Holdings to invest $21m in new vessels
      260 3  -  By Dexter Lee SINGAPORE Sesdaqlisted Jaya Holdings Ltd is investing $21.1 million in new vessels to boost its presence in Asia's growing marine transportation market. It has already spent about $8 million on eight vessels comprising four China-built deck cargo barges, two
      260 words
    • Article, Illustration
      Fire at F&N's unused brewery in KL
      245 3  -  By Sylvia Wong SINGAPORE Fire broke out at an unused brewery belonging to Fraser Neave Ltd in Kuala Lumpur yesterday morning, halting production at a nearby soft drink and canning plant. The soft drink plant was evacuated as a safety measure in case
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    • Article
      Lock icon SIG Holdings public share offer oversubscribed 1.4 times
      143 3 Bernama KUALA LUMPUR SIG Holdings Bhd's public offer of three million shares to the general public attracted 4,229 applications for 7.18 million shares with a monetary value of M$ 14.01 million, representing an oversubscription rate of 1.4 times. MIDF Consultancy and Corporate
      Bernama  -  143 words
    • Article
      Expected F&N Holdings Bhd listing promises lots of fizz
      552 3  -  THE HOCK LOCK SIEW COLUMN By Quak Hiang Whai SINGAPORE Soft drinks and dairies giant Fraser Neave Ltd is seeking approval to list its Malaysian subsidiary, F&N Holdings Bhd, at M 53.05 apiece, broking sources say. The broking industry has gotten
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    • Article
      Low Keng Huat's interim net slips 18.7pc to $2.5m
      259 3 SINGAPORE Low Keng Huat Singapore Ltd's interim net earnings slipped 18.7 per cent to $2.52 million from a year earlier as interim turnover dropped 31.8 per cent to $47.79 million. The construction group, which went public in January, benefited from $455,000
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    • Article
      Singatronics to increase stake in CD maker
      251 3  -  By Joseph Rajendran SINGAPORE Electronics maker Singatronics Ltd will invest a further $3 million in compact disc (CD) maker Eastgate Technology, raising its stake to 38 per cent. Singapore-based Eastgate will use the new funds to buy another CD production line and increase
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    • COMPANY BRIEFS
      • Article
        Pacific Can's new substantial shareholders
        68 3 SINGAPORE Pacific Can Investment Holdings Ltd said Promet Bhd director Brian Chang has acquired a 10.6 per cent stake in the company. Mr Chang bought the stake comprising 7.30 million shares for $4.09 million from Draycott Investment Corporation. Milago Pte Ltd has also acquired a
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      • Article
        Stanchart Securities appointment
        75 3 SINGAPORE Hongkong-based stockbroker Standard Chartered Securities, in an effort to expand its regional business, has appointed Chia Yew Boon as director of regional research for South-east Asia. Standard Chartered Securities is a subsidiary of Standard Chartered Bank with offices in Hongkong, London, Singapore, Kuala Lumpur, Bangkok, Manila
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      • Article, Illustration
        Cold Storage's training centre
        88 3 SINGAPORE Cold Storage Holdings Ltd yesterday opened a $250,0 CX) training centre to boost its workers' productivity. All 2,800 of the group's staff will have to go through training courses at the Goldhill Plaza centre. The 3,660 sq ft centre simulates retail conditions of the group's
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      • Article
        Golden Plus' new deputy chairman
        49 3 KUALA LUMPUR Golden Plus Holdings Bhd yesterday announced the appointment of Mohd Effendi Norwawi as deputy chairman and Hung Kwang Hou as managing director. It also said Negus Ltd, Goldhill Square Pte Ltd and Global Force have ceased to be shareholders of the company.
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    • Article
      Lock icon Drop in profits at most top Japanese brokerages
      430 4 Slim trading volumes, flat share prices to blame Reuter TOKYO Slim trading volume and stagnant share prices battered Japan's brokerage earnings in the six months to Sep 30, forcing all but one of the top 14 firms to announce net losses at
      Reuter  -  430 words
    • Article
      Lock icon Europe's top 3 food firms set to do well
      182 4 Bloomberg PARIS Europe's top three food companies are holding up well against the continent's sluggish economies. Nestle SA, based in Switzerland; Unilever based in Britain and the Netherlands, and BSN SA of France all posted improved earnings in the first half
      Bloomberg  -  182 words
    • Article
      Lock icon Probe into Asahi trading in Foster's rights
      318 4 Reuter SYDNEY The Australian Stock Exchange said yesterday it is investigating trading by Japan's Asahi Breweries in rights to shares in Foster's Brewing Group. Asahi has 20 per cent of Foster's, the world's fourth largest brewer, giving it an entitlement of 180 million
      Reuter  -  318 words
    • Article
      Lock icon Sears posts first loss in nearly 60 years on rise in insurance claims
      497 4 Reuter CHICAGO Sears, Roebuck Co has reported its first loss in nearly 60 years, racking up U*****.7 million (S$ 1.3 billion) in red ink during the third quarter after a huge rise in insurance claims from hurricanes
      Reuter  -  497 words
    • COMPANY BRIEFS
      • Article
        AT&T profits leap to record high
        57 4 NEW YORK American Telephone Telegraph's profits jumped to a record US$963 million (Ssl.s billion) in the third quarter. The telecommunications giant said on Thursday that the gain followed a loss of US$l.B billion in the year-ago period, when AT&T took a US$4.2 billion charge
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      • Article, Illustration
        Lock icon Another paper please
        52 4 Reuter NEW YORK Publisher Mortimer Zukerman holding up a copy of the New York Daily News outside bankruptcy court here on Thursday. Mr Zukerman is trying to buy the newspaper, which has been operating under Chapter 11 bankruptcy since its owner, British publisher Robert Maxwell, died last
        Reuter  -  52 words
      • Article
        Top Trafalgar men step down
        100 4 LONDON Sir Nigel Broackes and Sir Eric Parker are stepping down from the top posts at Trafalgar House pic, the British construction and engineering group that Broackes founded 36 years ago. The chairman, Mr Broackes, 58, will become honorary president of the company, a new
        100 words
      • Article
        Nan Fung places warrants
        76 4 HONGKONG Nan Fung kicked off the second big wave of covered warrant issues on Wednesday night with the placing of 100 million warrants on China Light and Power. Brokers reckon the covered warrant bandwagon is set to roll out again as the market heads into its
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      Page 3 Advertisements Column 1
      151 3 1 IN THE MARKET PAGES I KLSE hits year's high 11 Seoul prices continue rise 14 PROPERTY '92 A Special Business Times Survey October 88,1998 Property markets In Singapore and abroad are at a crossroads. Which turning will they take? That's what everyone wants to know, and that's the question
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      59 4 non sto p every you're |HBl' anywhere makes Um sense to fly there ISH^m^m^Di has more flights than anyone From Singapore there are every day to There are non-stop flights to Denpasar* Medan. 4 As as three a to Surabaya. fKUW to make you Garudalndonesia %r Proud tDwdcnmc ycu aboard.
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  • FINANCIAL NEWS
    • Article
      Lock icon US futures industry braces to battle OTC markets
      498 5 Focus on govt securities, cross-exchange access and large-lot trading Reuter CHICAGO Futures exchanges in the US, recently dealt stinging blows by over-the-counter (OTC) markets, have formulated battle plans for the 1990s and intend to use an arsenal of new technology and products
      Reuter  -  498 words
    • Article
      BZW becomes Simex clearing member
      190 5  -  By Moiz Tyebally SINGAPORE The Singapore International Monetary Exchange (Simex) yesterday admitted its 40th corporate clearing member with the inprinciple approval of BZW Futures. BZW Futures, a whollyowned subsidiary of Barclays de Zoete Wedd Holdings, is part of the UK-based Bar- clays Bank. Its admission
      190 words
    • Article, Illustration
      HKBank launches 'green' credit card
      243 5 SINGAPORE HongkongBank will launch a credit card that will help protect the environment. Part of the annual fee levied on customers will be used by the bank to fund conservation projects. The Care-for-Nature Mastercard, announced yesterday, will be launched during Clean-and-Green week next month. The
      243 words
    • Article, Illustration
      US dollar heading for correction
      637 5 DBS Bank weekly currency review US$/Dm: choppy week for the dollar Aggressive dollar buying emerged this week as a break of 1.4950 on Monday propelled the greenback to a high of 1.5040. The dollar gained further ground the Bnext day, rising to a high of
      637 words
    • Article
      Lock icon Salomon shocks with sharply lower earnings in third quarter
      524 5 NYT NEW YORK In an announcement that caught Wall Street by surprise. Salomon Inc said on Thursday that its third-quarter earnings took a nosedive. Salomon said its earnings plunged 93 per cent to US$6 million (559.6 million) from US$B5 million, or
      NYT  -  524 words
    • Article
      Lock icon UK inquiry faults Bank of England in BCCI fraud case
      266 5 NYr LONDON The Bank of England was neither alert nor inquisitive enough in responding to the huge fraud that led to the collapse of the Bank of Credit and Commerce International, according to a special British inquiry whose results were
      NYr  -  266 words
    • SMALL CHANGE
      • Article
        Aussie state's credit rating downgraded
        92 5 SYDNEY The credit rating of Australia's second most populous state was slashed yesterday. Ratings agency Moody's Investors Service downgraded the long-term debt of Victoria to A-l, the fifth highest rating, from AA-2, the third highest, due to a deterioration in the state's economy and budget
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      • Article
        HK bank auditors not watchdogs
        67 5 HONGKONG The Hongkong government is not passing the responsibility of regulating banks to auditors, says banking commissioner David Carse. Speaking at a conference sponsored by the Hongkong Association of Banks on a new guideline tightening up banks' internal control, Mr Carse. said the government will
        67 words
      • Article
        France sees lower European rates
        62 5 PARIS European interest rates will head lower, with money market rates having already dropped in France since the recent currency turmoil, French Finance Minister Michel Sapin said. "All over Europe, in Germany and therefore in France, the prospects, the trends are for a decline in
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      • Article
        No more crown devaluation
        70 5 PARIS Sweden's Industry Minister said there will be no more devaluations of the Swedish crown and no more subsidies to Swedish industry. In a speech prepared for delivery to financial analysts, Swedish Minister of Industry and Commerce Per Westerberg said a fixed exchange rate is a
        70 words
      • Article
        Swiss bank's profit falls 8.4pc
        71 5 BASLE, Switzerland Swiss Bank Corporation (SBC), the country's second largest bank, said on Thursday that its pre-tax parent operating profit for the first nine months of this year had fallen 8.4 per cent to 1.51 billion Swiss francs (Ssl.B billion). The bank said operating income
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      • Article
        Credit Suisse saves regional bank
        63 5 ZURICH Credit Suisse, Switzerland's third largest bank, said yesterday it had stepped in to save a mediumsized regional bank from collapse and the country's banking industry from a damaging loss of confidence. The Federal Banking Commission has ordered temporary closure of the EKO Hypothekar-und Handelsbank
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      • Article
        Lira expected to join ERM soon
        104 5 PARIS French Finance Minister Michel Sapin said Italy could rejoin the ERM rather quickly. But he said the lira's return depended at least partly on the dollar and clearer signs of a US economic recovery following the Nov 3 presidential election. A rising dollar
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    • Article
      Lock icon BankAmerica profits fail to soothe investors
      521 5 Stock falls in spite of good third-quarter results NYT NEW YORK Bank America Corp says it earned US$476 million (*****.7 million) in the third quarter, the most of any American banking company. But the announcement on Thursday failed to reassure investors and traders worried
      NYT  -  521 words
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      Page 5 Advertisements Column 1
      49 5 (®)MMmJSmr RESTAURANT PTE. LTD. H I HONG KONG I I DIAN XIN I J L. Served Daily am 2.30 pm No. 488, Upper East Coast Road, Singapore 1646 I H For reservation Tel: 449 5030/449 5036 Fax: 449 5365 H m Ample Parking M IS mins from Shenton Way
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  • THE REGION
    • NOTE BOOK
      • Article
        Indonesia expects drop in population ranking
        89 6 JAKARTA Indonesia, the world's fourth most populous nation, expects to drop to number seven in the rankings by 2050, the Antara news agency said here yesterday. The forecast was based on the fact that the fertility rate had been successfully lowered from 5.6 per
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      • Article
        Focus on growth, Bangkok urged
        78 6 MANILA The booming Thai economy is strong but the government must make sure the rate of growth continues to rjse* an Asian Development Bank (ADB) official said on Thursday. Bangkok should tackle rising labour costs and tty& shortage of skilled workers, and upgrade its technology
        78 words
      • Article
        Indon strikers want higher wages
        95 6 At least 8,000 workers from seven factories Tanggerang have gone on strike to demand better and working conditions, press reports said here yesterday. The majority of the workers were women employees from five factories belonging to the Pan Brothers Group, the Merdeka daily said, adding
        95 words
      • Article
        Thai tourism plumbs the depths
        67 6 BANGKOK Thailand's tourism is at a record low, with prices of hotel rooms and tour packages at a sharply reduced level. Association of Thai Travel Agents president Anake Srishevachart said on Wednesday that prices of tour packages to Thailand have now reached "bottom level", as
        67 words
      • Article
        Timber: primary processing industry
        70 6 KUALA LUMPUR The Malaysian timber industry remains a primary processing industry despite the commendable exports of M 59.3 billion which contributed to about 5 per cent to the gross domestic product last year, Malaysian Timber Industry Board director-general Baharuddin Ghazali said at a seminar on Thursday.
        70 words
    • Article
      Lock icon Asean considers sharing US$10b power grid
      344 6 Reuter KUALA LUMPUR South-east Asian nations are considering a US$lO billion (S$ 16 million) power project aimed at sharing electricity through terrestrial and submarine cables, senior officials from Malaysia's statecontrolled power firm have disclosed. The Tenaga Nasional Bhd officials, who spoke yesterday on condition
      Reuter  -  344 words
    • Article
      Lock icon Viet power project faces financial woes
      218 6 AFP HANOI Vietnam's highest priority infrastructure project, a US$3OO million (*****.5 million) electric power line, has run into financial difficulties, according to the latest editions of the Saigon Newsreader. The 1,500-km power cable, which has been under construction since April, is to carry 500,000
      AFP  -  218 words
    • Article
      Lock icon Rising Asian incomes to boost Australian tourism
      187 6 Reuter, AFP CANBERRA Rising Asian incomes will help double Australia's tourism industry over the next decade, according to official forecasts issued on Thursday. "It's basically disposable incomes that are driving the rise, especially in Asia," said Michael Poole, research manager of Australia's Bureau
      Reuter,; AFP  -  187 words
    • Article, Illustration
      Lock icon Cambodia — a year flies past
      143 6 Cambodia a year flies past AP PHNOM PENH A United Nations French paratrooper landing in front of the Royal Palace yesterday when military troops from 44 mem-ber-nations of the UN participated in a parade to mark the first anniversary of the Cambodian peace agreement signed in Paris last year. The
      AP  -  143 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      567 6 y M jj u— at* iiiitfc i__Li .J f\,,, vessa »oy no Mm vmr a Mptnurv ta i MM* ILt H■ Hi ffy iw owoi fvnvi Dapartee M04 aiongsite 24.10/0500 Batam Sayang *****2 M05 *x«ade 24.10/2300 Htayadana648 05/92 M05 akx«ade 23.10/2000 Karya Mali *****2 M02 abnpde 23.10/2300
      567 words
    • Article
      CONTAINER SCHEDULES
      1779 6 DELIVERY Of FCL IMPORT CONTAINERS IN PROGRESS Wp Contafcwrc Ship toy N> CwiUtwn »wfcM» Wang Reefer IMS 22.10.92 2120 Hw Gang LS1832 COO(EST) 2310.92 2300 Madmr Vas 22 92W 22.10.92 2218 Twadika 947 COO(EST) 23.10.92 2300 Swan Reefer 200N 22.10 92 2235 Pan Ona 9 COO(EST) 24.10.92 0600
      1,779 words
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  • THE WORLD
    • Article
      Lock icon US corporate cutbacks may hit record high in 1993: survey
      542 7 AP NEW YORK Lay-offs and job eliminations in American corporations could reach record numbers in 1993, according to a survey released on Thursday by the American Management Association. It said one out of every four of the companies surveyed was
      AP  -  542 words
    • Article
      Lock icon Arduous climb to top for Kanemaru's successor
      402 7 Reuter TOKYO Keizo Obuchi, named yesterday as chairman of the "kingmaking" faction within the ruling Liberal Democratic Party (LDP), has followed the path blazed by Japan's post-World War II political elite. Like his predecessors, he has gained solid experience in a range of
      Reuter  -  402 words
    • WORLD WATCH
      • Article
        Record bank loans for US exports to Asia
        69 7 WASHINGTON The US Export-Import Bank said on Thursday it provided a record level of financial support for selling American products in Asia the past year. The total of US$2.2 billion (553.5 billion) for fiscal 1992 was nearly four times that for 1991.
        69 words
      • Article
        HK firms drop island plan
        48 7 TOKYO A Hongkong company at the centre of a bitter row between Tokyo and Moscow Carlson and Kaplan Ltd has decided not to go ahead with a controversial lease on a disputed island north of Japan, a Foreign Ministry official said on Thursday.
        48 words
      • Article, Illustration
        Russia's first state lottery
        56 7 MOSCOW Olga Saveliyeva, the hostess of Russia's first national lottery game, Lotto Million, announces the winning combination live on television on Thursday as the numbered balls fall out of the machine. Over five million tickets were sold for the first drawing with the lucky ticket holder
        56 words
      • Article
        Visit China '92 to net US$3.5b
        76 7 BEIJING China will earn a record US$3.5 billion from tourism this year, "Visit China '92", and is aiming for US$lO billion by the end of the decade, the country's top tourism official said. The government recently announced the establishment of several national tourist resorts
        76 words
    • Article
      Lock icon Britain diving deeper into recession, survey shows
      350 7 UPI LONIX)N Britain has entered the second leg of its recession with its economy taking an even steeper dive in the past three months, according to a third-quarter survey by the influential British Chambers of Commerce (BCC) released on Thursday. The survey of
      UPI  -  350 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      164 7 ■yj'iO 'jiniJ .u»fq "Od.S cross Asia UPS planes do i r something very important every day. They take off on schedule. Worldwide Expedited Package '~,m Service from UPS ensures the ;»f packages it carries will arrive in the 'oo.£ > I £1 ~u. yfcf Blr^lWag^^—M-iIMBBBW Ri^JiK^nH^HBMiHB^HIMMHIHM^^BHiIHIIIBBI^Bk^BI As conventional shipments are
      164 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Trade figures shake market out of lethargy
      3961 8  -  By Lilian Ang SINGAPORE STOCKS grabbed attention from Malaysian shares yesterday, rallying strongly on news that non-oil exports had shot up 9.5 per cent in the first nine months of this year. The data renewed expectations that Singapore's third-quarter economic performance would be
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    • Article, Illustration
      Lock icon HOT STOCK
      77 8  -  -By Quak Hiang Whai JURONG SHIPYARD Ltd fell from above $11.00 early this year to $6.45 yesterday. The weekly RSIs and stochastics are showing some signs of divergence, creeping up while the price is falling. The nine-week moving average is showing signs of turning up. Monthly indicators are
      SOURCE: BRIDGE INFO  -  77 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      158 8 Carrier's new curved beauty World renowed jeweller Cartier has launched a revolutionary new watch. A worthy successor to the immensely popular Santos, the new Santos Galbee is set to make its own milestones in time to come. BflKjkv, In 1904 when the Santos collection was frist created, styles were simply
      158 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3020 9 RISES (S) Robinson 635 45 7.6% C&C 625 35 5.9% DBS Foreign 1150 30 2.7% Jurong Ship 50* 645 30 +4.9% Keppel C'orpn 575 30 5.5% Roch Inds 50* 535 30 5.9% SPH Foreign 1320 30 2.3% Semb Shipyard 680 25 3.8% Singmanne SO 338
    3,020 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      166 9 iV. YOUR VERY OWN HASSLE-FREE UCTMNjC^^mGSEWICEj If news and other pertinent information on companies listed on the Stock Exchange And for subscription fee of only $250 per month, you and your company can of Singapore Clob International are important to you and your business, then SPH subscribe to this specialised
      166 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 3
    3616 10 1 RISES (S) Gentings 50 1 850 35 4.3% Hume M 372 20 5.7% Oriental Hldgs 625 20 3.3% Shell 418 16 4.0% NST 306 12 4.1% Perlis Plant 392 12 3.2% Samanda Hldgs 209 11 5.6% Sateras Res 64V: IOVI 19.4% A1SB 50* 120
    3,616 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      141 10 The Top Prize: Hewlett-Packard DeskJet 500 C Miss Lai Ming Ylng (Second from left) receiving her prize from Ms Eng Wee Nah. Marketing Communications Manager, Hewlett-Packard S'pore (Sales) Pte Ltd (second from right). That's what Lai Ming Ying did! She took part in Shine's easy-to-enter 'Puzler' contest and won herself
      141 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Index hits new year's high on strong buying support
      5517 11 Bernama FUND MANAGERS swarmed the trading floor on the Kuala Lumpur Stock Exchange yesterday in strong buying support in the afternoon session and led shares to close broadly higher in spite of some earlier profittaking activity. The Composite Index reached a
      Bernama  -  5,517 words
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  • CHINA STOCK EXCHANGES
    • Article, Illustration
      Shanghai A Index recovers with 139-pt gain
      420 12 DOWNWARD pressure in the Shanghai domestic market eased off yesterday with the Shanghai A Index putting on 139.33 points to 3,745.16. Dealers said some bar-gain-hunting interest was seen yesterday after Thursday's 337.74-point fall. The Shanghai B market was subdued and it was Tyre
      420 words
  • JAKARTA STOCK EXCHANGE
    • Article, Illustration
      Share prices end little changed in quiet week
      941 12 JAKARTA SHARES ended a fairly quiet week barely changed and brokers said the prospects are much the same for the coming week. The Composite Index added 3.16 points to close at 309.61. One foreign broker said foreign fund managers, the market's driving
      941 words
  • Article
    STOCK EXCHANGE OF THAILAND
    1780 12 Vol Oct 22 Baht High Low COO) PE A.J. Plast 45.00 -0.25 45.75 44.50 985 19.8 Adkinson Sec 216.00 6.00 220.00 210.00 1959 94.7 Alucon 146.00 1.00 146.00 145.00 10 6.8 Am Std Sanitary 430.00 16.9 Aokam Thai 67.00 6.00 67.00 61.00 ***** na Asia Credit
    1,780 words
  • Page 12 Advertisements
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks firm on futures-linked trading
      2567 13 Reuter TOKYO STOCKS ended higher yesterday on firmer futures prices, with the Nikkei closing at its day's high. While many people stayed on the sidelines at the start of the earnings announcement season, incentive-backed issues remained the centre of attention, brokers said. The Nikkei Average
      Reuter  -  2,567 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Shares ease in pre-weekend selling
      2452 13 Reuter A BOUT of pre-weekend selling led by local investors depressed the Hang Seng Index 66.58 points, or 1.05 per cent, to finish at 6,262.54 yesterday. Overseas institutions who led the week's rally stayed away from the market, giving locals a free hand to lock
      Reuter  -  2,452 words
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  • AUSTRALIAN STOCK EXCHANGE
    • Article, Illustration
      Lock icon Share prices cling to early gains to end firmer
      2042 14 Reuter HEAVY TRADING in Foster's rights, big gains by miners, and better news from offshore combined to push the Australian share market higher yesterday. A strong-morning rally levelled around noon, and range-bound afternoon trading let the market close at its week's
      Reuter; Source: Bridge Info  -  2,042 words
  • REGIONAL STOCK MARKETS
    • Seoul stocks climb for 6th straight session
      • Article
        MANILA
        582 14 LAST-MINUTE SELLING by foreign investors dragged Manila share prices down and aborted the recovery of a market hit by anxiety about power blackouts, brokers said. The Manila Stock Exchange Composite Index lost 6.27 points to close at 1,321.41. Stocks opened strongly but a lack of news to spur the
        582 words
      • Article
        Untitled
        158 14 New Zealand Oct 23 NZS VoK'OO) ANZ Banking 3.75 0.20 ***** Air New Zealand (A) 2.46 -0.02 *****0 Air New Zealand (B) 2.75 Bank of NZ 0.78 unch ***** Baycorp 0.46 unch *****0 Bnerley Inv 0.85 0.01 *****82 Carter Holt 2.32 unch *****4 Cavalier 4.50 0.05 ***** Ceramco 3.58 unch
        158 words
      • Article
        BOMBAY
        169 14 SHARE PRICES on Thursday recovered in a volatile market on the last day of trading in the Hindu year but brokers said the undercurrent was shaky. The BSE Index peaked at 3,002.16 before closing at 2,987.29, up 52.63 points, after falling 116.24 on Wednesday. Brokers said institutional buying in
        169 words
      • Article
        INDICES & TURNOVER
        50 14 INDICES TURNOVER Clow I^CVllMS Oct 23 NEW ZEALAND NZSE-40 Capital unav 1.381.21 MAHH-A Composite Index 1.321.41 1.327.68 -6.27 Turnover (mil pesos) 212 263 -51 TAIPEI Weighted Price Index 3.662.60 3.699.23 -36.63 Turnover (NTS billion) 7.7 8.68 -0.98 SEOUL Composite Stock Index 571.34 568.97 137 Turnover (billion won) 535.5 517.09 +18.41
        50 words
      • Article
        SEOUL
        841 14 SEOUL STOCKS advanced for the sixth consecutive session yesterday although profit-taking put a dent in the run-up, brokers said. The Composite Index gained 2.37 points to 571.34 on turnover of 535.5 billion won from Thursday's 517.09 billion. "The market gained about nine points at one point but a sell-off
        841 words
      • Article
        TAIPEI
        525 14 TAIWAN STOCKS closed lower across the board in the smallest turnover since June 1989 as most investors stayed out of the market yesterday, brokers said. The Weighted Index dropped 36.63 points to end at 3,662.60, just off its intra-day low, on turnover of NTS 7.7 billion against Thursday's NTSB.6B
        525 words
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  • WORLD STOCK MARKETS
    • Late spurt pushes US stocks up
      • Article
        INDICES & TURNOVER
        72 15 INDICES TURNOVER NEW YORK Close Previous Oct 22 Dow Jones SAP 500 Turnover (million) 3.200.88 3.187.10 414.90 415.67 216.40 219.10 13.78 -0.77 -2.7 LONDON Financial Times 30 FTSE 100 Turnover (million) 2.658.1 unav 727.9 1,951.3 2.645.7 848.8 12.4 120.9 FRANKFURT DAX Index 1,510.11 1.503.90 +6.21 AMSTERDAM EOE Index unav 278.33
        72 words
      • Article
        Untitled
        264 15 Milan Oct 22 Lire Assitalia 6390 140 Bastogi 90 -3 Fiat 4293 43 General! ***** +310 Ifi Priv 8760 -40 (taigas 2858 8 Italcementi 7799 49 Montedison 1156 +31 Mediobanca ***** 200 Magneti 624 9 Magneti Risp 590 -60 Olivetti 1978 68 Olivetti Priv 1820 -50 Pirelli Spa 1122 +7
        264 words
      • Article, Illustration
        NEW YORK
        1230 15 NEW YORK share prices closed higher on Thursday after spending most of the day down because of disappointing quarterly reports for major American corporations. The Dow Jones Index closed at 3,200.88, up 13.78 points on late buying. The New York Stock Exchange Composite Index eased 0.50 to 228.10,
        1,230 words
      • Article, Illustration
        LONDON
        758 15 STOCKS came off the day's highs late on Thursday after a midday rally, but still closed with a moderate gain as the 100-share Footsie Index finished at 2,658.1, up 12.4 points. Volume was down to 727.9 million shares, against 848.8 million on Wednesday. Operators said the market moved up
        758 words
      • Article
        FRANKFURT
        212 15 THE stock market started the day with losses on Thursday, but ended with a moderate gain, as the DAX Spot Trend Index finished at 1,510.11 points, up by 0.4 per cent from the Wednesday close. The Commerzbank indicator tacked on 6.10 points to end at 1,681. In spite of
        212 words
      • Article
        PARIS
        251 15 THE BOURSE, whose hopes for a cut in French interest rates were fanned on Thursday morning by Prime Minister Pierre Beregovoy, retreated from its highs when the Bank of France announced it was keeping a key rate unchanged. The CAC-40 Index, which by midday had gained as much as
        251 words
      • Article
        ZURICH
        405 15 SWISS SHARES ended a quiet Thursday session little changed. Dealers said lower money market rates helped insurers and banks, while industrials traded slightly easier in spite of the firm dollar. The broad SPI index ended 1.3 points higher at 1,153.7 and the SMI index of leading shares rose 3.9
        405 words
      • Article
        STOCKHOLM
        254 15 SHARES rose in robust Thursday trade on buying related to options expiry, lower domestic interest rates and a strong dollar. The All-Share Index rose 1.47 per cent to 702.04, while the Top--16 Index closed up 2.28 per cent. "There was a lot of derivative- related trading today," a dealer
        254 words
      • Article
        BRUSSELS
        159 15 SHARES ended slightly firmer in a fairly directionless market in which steel shares and glassmaker Glaverbel were among the casualties, dealers said. The Bel-20 Index of leading shares ended up 3.61 points, or 0.32 per cent, at 1,121.78 points, with a total volume of 818 million francs traded. Steel
        159 words
      • Article
        JOHANNESBURG
        431 15 STOCKS ended little changed on Thursday after trendless and thin volume trade which was still dominated by jobbing. "Jobbers were active for most of the day and institutional investors were scouring the market for value. But there was not much on offer," one dealer said. The Overall Index closed
        431 words
      • Article
        TORONTO
        409 15 STOCKS ended higher, in spite of; weakness in Canada's heavily-weighted gold and transportation indices, as the market discounts the worst from a na- tional referendum on Monday and cues off a sharp drop in the Bank of Cana-; da's key lending rate. The TSE-300 Composite Index end-I ed up
        409 words
  • Page 15 Advertisements
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback and sterling open weaker in European trade
      1223 16 REPORTS THE US DOLLAR turned downwards except against the yen in early trading in Europe yesterday, having risen to the resistance point of 1.51 marks, and sterling was affected by profit-taking after rising sharply on Asian markets. The market tried to push
      1,223 words
    • Article
      INTERBANK FOREX RATES
      413 16 Cross rates 0*23 USS SS MS Dm Yen SFr AS NZS USS 1.6130 2.5000 1.4990 120.60 0.6105 1.3360 1.3870 1.8467 SS 0.6200 1.5499 0.9293 74.7675 0.3785 0.8283 0.8599 1.1449 MS 0.4000 0.65 0.5996 48.2400 0.2442 0.5344 0.5548 0.7387 Dm 0.6671 1.0761 1.6678 80.45 0.4073 0.8913 0.9253 1.2320
      413 words
    • Article
      MONEY MARKET
      524 16 -Interbank rates Bid Offer I 2 2 1/8 1 3/4 I 7/8 1 7/8 2 5-month I IS/16 2 1/16 mode: 1-3/4 *ȣs$ Bid Offer Cf days 3~7/4 3 3/8 month 3 1/4 3 3/8 **1 months 3 1/4 3 3/8 months 3 1/2 3 5/8 months 3
      524 words
    • Article
      Lock icon UK mark bond may lead to more Euro-deals
      377 16 Reuter LONDON The arrival of Britain's first-ever Eurobond in German marks this week may signal a new departure for British authorities seeking to replenish depleted foreign reserves. "The deal may establish a precedent for the future which will allow the UK to
      Reuter  -  377 words
    • Article
      FINANCIAL FUTURES
      1511 16 SIMEX EURODOLLAR Open High Low Sett Est Vol Act/Vol Op/lnt Dec 92 96.40 96.44 96.39 96AI 5i00 ***** ***** Mar 93 96.35- 96.38 96.33 96.36 ***** ***** ***** 96.36 Jun 93 95.88 95.96 95.87 95.90 5000 6753 ***** Sep 93 95.40 95.45 95.39 95.41 1700 3099 3614 Dec
      1,511 words
  • Page 16 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Cocoa producers take united stand to boost prices
      351 17 Reuter KUALA LUMPUR Leading cocoa-producing countries agreed at the end of a five-day meeting yesterday to stand together and draw up plans to coordinate supplies, cut stocks and raise consumption to bolster flagging prices. Delegates said the Cocoa Producers' Alliance (CPA) decided
      Reuter  -  351 words
    • Article
      Lock icon Gold challenging cocoa as Ghana's biggest export earner
      280 17 Reuter OBUASI, Ghana Gold is shining bright again in Ghana. After years in the doldrums, the West African country's gold mining industry is going from strength to strength, challenging cocoa as the biggest export earner and aiming to nudge Ghana up the
      Reuter  -  280 words
    • Article
      KL tin price recovers on renewed buying interest
      755 17 REPORTS THE Kuala Lumpur Tin Market yesterday rebounded on renewed buying interest ahead of a long weekend break to close 12 sen higher at M$ 14.30 per kg. The KLTM will be closed on Monday for Decpavali. The better showing on the
      755 words
  • Article
    PRICES
    1558 17 I Rubber HAS C——<ty Exchange (futures closing as at 1pm) RSS 1 Contract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Nov 92 143.50 143.50 142.50 50 900 Dec 142.00 141.50 142.00 750 2.800 Jan 93 142.00 141.25 141.50 450 4.400 Feb 0.00 0.00 141.25 0
    1,558 words
  • Page 17 Advertisements
    • Advertisement
      Page 17 Advertisements Column 1
      807 17 BUSINESS TIMES Toll tree Tel No 737 0043 -Fax No: 734 3608 NOTICE OF FINAL MEETING IN THE MATTER OF THE COMPANIES ACT, CHAPTER SO ANO IN THE MATTER OF HOCK GUAN THONG CONSTRUCTION PTE LTD (IN MEMBERS VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that pursuant to Section 308(1) of
      807 words
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  • Article, Illustration
    Lock icon Akihito stops short of apology
    495 18 Emperor says he deplores wartime suffering in China caused by Japanese troops Reuter, AFP BEIJING Emperor Akihito, the first Japanese monarch ever to visit China, yesterday said he deplored the suffering caused by imperial troops during World War 11, but he did not make the
    Reuter,; AFP  -  495 words
  • Article
    Lock icon Major Japanese long-term credit banks to cut prime
    317 18 Reuter, AFP TOKYO Major Japanese long-term credit banks have decided to cut their prime rates by 0.2 percentage points to 5.5 per cent a year. Financial sources said yesterday that the new long-term prime lending rates will be applied by the Industrial
    Reuter,; AFP  -  317 words
  • Article
    Lock icon Japanese scientist claims cold fusion success
    291 18 Reuter TOKYO A Japanese scientist said on Thursday he had brought about cold nuclear fusion, a reaction that in theory could provide practically unlimited power. Eiichi Yamaguchi, 37, a senior researth scientist at Nippon Telegraph and Telephone Corp's (NTT) basic research laboratories, said he
    Reuter  -  291 words
  • Article, Illustration
    Lock icon A waste to vote for Perot, says Bush
    564 18 jiSSRESmw mm Reuter WASHINGTON US President George Bush has said that a vote for independent challenger Ross Perot is a wasted vote as Democrat Bill Clinton accused the Bush administration of investigating his mother an act he called "pathetic". In a 45-minute
    Reuter  -  564 words
  • Article
    Lock icon A recession to laugh about
    92 18 Reuter RIDGEWOOD, New Jersey President George Bush made a slip of the tongue on Thursday on the one issue he doesn't like to talk about on the campaign trail, thanking thousands of cheering supporters for their "warm recession". In a speech during a cam- paign
    Reuter  -  92 words
  • Article
    Suntec to invest US$40m in two China projects
    472 18  -  Cement plant expansion and trade centre planned From Catherine Ong in HONGKONG SUNTEC Investment, the Singapore-based vehicle of prominent Hongkong tycoons, is investing US$4O million (SS64 million) in two projects in Suzhou, China. About US$29.B million will go towards upgrading and expanding
    472 words
  • Article
    HK proposes compulsory private pension system
    380 18  -  Govt stresses it will not be a Central Provident Fund From Catherine Ong in HONGKONG THE Hongkong government yesterday announced proposals for a compulsory pension system which calls for both the employee and the employer to contribute 5 per cent of an employee's monthly
    380 words
  • Article
    Lock icon Russia lifts travel restrictions on foreigners
    216 18 Reuter MOSCOW Russia said yesterday it had lifted travel restrictions on foreigners and opened up the last of its vast areas hidden from the West during decades of Cold War. The move, already outlined in a memo sent to embassies, followed a bilateral Russian-US
    Reuter  -  216 words
  • Article
    Lock icon Hanoi to give information on MIAs, POWs: Bush
    150 18 AFP WASHINGTON US President George Bush said yesterday that Vietnam has agreed to provide all information it has on Americans missing in action and prisoners of war in what he described as "a real breakthrough" for US policy. Mr Bush said that
    AFP  -  150 words
  • Page 18 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      New directions in cinema
      1466 19  -  The recommendation to create an NC-16 rating, which bars those below 16 years from watching adult-theme movies, was the only surprise proposal by the Censorship Review Committee. Susan Tsang looks at the implications of the new rating Susan Tsang AFTER the controversy stirred by the recent
      1,466 words
    • STRAWS IN THE WIND
      • Article
        Rubbing it in
        50 19 HERE'S a massage to end all massages. Seen in an ad in the weekly tabloid, Weekend East: "Stimulate 28,000 deep nerves and discover hidden blockages. Yoga massage, international organ massage, very popular with Caucasians and Japanese women." Don't wait, call now for the stretch of a lifetime.
        50 words
      • Article
        Deadline for a date
        51 19 ANOTHER one from the same tabloid: "Lady looking for male, sincere, caring, single, age around 40-48, preferably graduates, for friendship with view to marriage. Te1:738-XXXX Janice. Call on or before Oct 26." Notice this is one offer that has an an expiry date. So call her,
        51 words
      • Article
        Dunce offer
        43 19 SILLY offer of the month: the disco Zanzibar is celebrating its second anniversary, so it's giving away a bottle of champagne to each pair of twins that turns up. When it turns three, will the disco give away champagne to triplets?
        43 words
      • Article
        Economic sense
        66 19 WORLD Bank chief economist Dr Lawrence Summers had this tale to relate while in Singapore recently: Two balloonists lost somewhere above the Urals, had no idea where they were. So they shouted: "Where are we?" Came the reply from below: "In a hot air balloon." They surmised that
        66 words
    • OPINIONS
      • Article, Illustration
        A case of two faces
        770 20  -  The call by Professor Tommy Koh for greater corporate sponsorship of the arts falls on the ears of only two groups of people, writes Anna Teo Anna Teo The writer is a BT correspondent Actually, anyone with a message to sell, from peddlers to politicians
        770 words
      • Article, Illustration
        The rough road ahead for Hongkong
        789 20  -  Jackie Sam looks at the reception HK Governor Chris Patten received on his Beijing visit Jackie Sam The writer, a Hongkong-based political consultant, contributed this article to BT HONGKONG Governor Chris Patten went to Beijing and got snubbed. Talks with his Chinese counterpart Lu
        789 words
      • Article
        Lock icon Different strokes for different folks
        563 20  -  When it comes to human rights, what works for the West does not necessarily work for developing countries, says Jusuf Wanandi Jusuf Wanandi The writer is chairman of the supervisory board of the Centre for Strategic and International Studies in Jakarta IHT IF THE world
        IHT  -  563 words
      • Article
        Can Fuji please explain results?
        102 20  -  Lot Mei Ling FUJI Offset Plate recently attributed its poor interim results to keen competition from multinational corporations. A closer examination of the interim result however reveals that it was the losses of the ice skating rink which eroded the profitability of the group significantly.
        102 words
      • Article
        Singapore Re should volunteer information
        116 20  -  LETTERS TO THE EDITOR Loi Mei Ling IF SINGAPORE is to become a financial centre, listed companies ought to provide relevant information to the general public regularly and without being prompted to do so. The recent hurricane in Hawaii has left me wondering whether Singapore
        116 words
    • VIEWPOINT
      • Article, Illustration
        Lock icon A bulwark against idiocy
        1977 21  -  Nominated MP Walter Woon refuses to pull his punches whenever he comes across intolerance, whether racial or political. But while he is prepared to speak up against ministers and top officials, he has never been a rebel, he tells Margaret Thomas f CONVERSATIONS RAFFLES Margaret Thomas
        Photo by Arthur Lee  -  1,977 words
      • Article
        Standing up to the bullies
        745 21 WALTER WOON went to the University of Singapore in 1977 on a DBS Bank scholarship which required him to stay at Raffles Hall, a students' hostel. He made his mark right from the start. "First night of orientation, I stood up and said: 'Look, I
        745 words
      • Article
        The constraints of being a practising lawyer
        743 21 WHY is Walter Woon teaching law instead of practising it? "The trouble with practising law is you don't really have a choice about your clients. You've got to represent them whether or not you believe that they are in the right. "Here, 1
        743 words
    • EPICURE
      • Article, Illustration
        Interesting Indonesian
        561 22  -  Nirmal Ghosh samples the cuisine at the recently-opened Nusa Indah Nirmal Ghosh LEVEL Two of Wisma Atria boasts a new Indonesian restaurant, Nusa Indah. Seeking to be modelled on a traditional Balinese courtyard, the interior, however, falls a bit short of fidelity to the ethnic concept. The Indonesian
        561 words
    • LIFESTYLE 2
      • Article, Illustration
        Lock icon Cholesterol may not be all bad, after all
        801 23  -  New studies suggest that cholesterol might not matter much for women but this is still hotly contested, reports Daniel Q Haney Daniel Q Haney AP CHOLESTEROL, long the Great Satan of American health, is getting another look. The accepted wisdom that everyone
        AP  -  801 words
      • Article
        Taittinger's pure chardonnay champagnes
        813 23  -  WINE By N K Yong CHAMPAGNE is above all a blended wine, with the principal grapes Pinot Noir and Chardonnay in approximately equal proportions plus a very small amount of the third grape variety Pinot Meunier. Very few champagne houses produce pure Chardonnay Champagnes. One of
        813 words
    • PEOPLE
      • Article, Illustration
        Welcoming new GM at Maybank Singapore
        269 23 THE NEW year may still be a couple of months away but it's "in with the new and out with the old" at the Singapore office of Malaysia's largest deposit bank Malayan Banking Bhd. Bankers of various pin-stripe gathered at the Regent Hotel last
        269 words
      • Article, Illustration
        Lock icon UOB's new venture
        147 23 A FEW hundred guests gathered to witness the official open- ing of the United Overseas Bank group's latest venture United B&B Italia, at Odeon Towers last month. Italian furniture maker B&B Italia who is reputed for quality as well as its price will specialise in adorning th£
        Photos by Chris Loh and Arthur Lee  -  147 words
    • REVIEWS
      • Article, Illustration
        Columbus gets a shining halo
        772 24  -  1492 Conquest of Paradise is content to glorify the man who discovered America, not bothering to get under the skin of the 15th-century traveller, says Jaime Ee Jaime Ee T'S finally here. The I greatest discovery of I the year. Five hundred I years after
        772 words
      • Article, Illustration
        An interminable travelogue
        670 24  -  Indochine manages to capture virtually every interesting looking old man in Vietnam, but what's the story about, wonders Susan Tsang Susan Tsang INDOCHINE is the tale of a rubber planter, her adopted daughter and a cute sailor that both of them love. Well, if the truth be
        670 words
      • Article, Illustration
        Palmer pays homage to Sinatra and company
        705 24  -  CD REVIEW By Ringo Liew ROBERT PALMER: Ridin' High NEXT to Frank Sinatra, Robert Palmer probably has the biggest right to claim My Way as his personal anthem. The Briton has had a career marked by independence of mind and originality of sound.
        705 words
      • Article, Illustration
        Rock hero who's prey to self-doubt
        613 24  -  Reviewed by Chuang Peck Ming Eric Clapton Lost in the Blues By Harry Shapiro Guiness, 223 pages, 529.90 CLAPTON is God. So claim those who have fallen under the spell of this virtuoso of the rock guitar, and there are millions around the world
        613 words
    • PURSUITS
      • Article, Illustration
        Saying it with flowers
        626 25  -  Ikebana master Toshio Arai talks about his passion to Nirmal Ghosh Nirmal Ghosh IKEBANA master Toshio Arai's sparse hair is greying. In his loose, high-collared shirt he looks the artist, part-ascetic, part-philoso-pher. His arms and hands look strong, though, and he talks volubly, glad to speak
        626 words
      • Article, Illustration
        Life's a beach
        1478 25  -  David Brazil offers an offbeat guide to some well-trodden beaches as well as those off the beaten track David Brazil David Brazil is a freelance travel writer WHEN he penned that "ne'er the twain shall meet" line about East and West, I doubt ff Rudyard Kipling had
        1,478 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Lock icon Time to give S'pore blue chips a 2nd look
        642 26  -  Moiz Tyebally recommends some good buys in the Singapore stock market ahead of the anticipated New Year rally Moiz Tyebally AFTER dithering for months, Singapore stock prices surged yesterday, triggered by the strong trade figures. Is the optimism warrant-' ed? Having
        Source: Securities  -  642 words
      • Article, Illustration
        Breakout of KLSE index confirms uptrend
        538 26  -  CHART By Chew Eng Han The writer is assistant manager of investments at NTVC THE BULLISH triangle pattern in the K.LSE Composite Index has worked perfectly, and the break above 615 this week has confirmed the uptrend. After retracing from 610 to the support
        538 words
      • Article
        Making money on leverage
        590 26  -  Betting on Japanese stocks is easier and cheaper with the Nikkei 225 futures contracts on Simex, says Paul Leo Paul Leo WHERE can you make a 68 per cent return on an 18-month investment for an outlay of as little as $25,000? On the Singapore International
        590 words
      • Article, Illustration
        Lock icon Nikkei's support seen at 16,000
        182 26 THE NIKKEI fell from a high of 39,930 in Jan 1990 to its low at 14,320 on Aug 8 which is about the level where the Nikkei was when the Nikkei futures contract was first launched on Simex in September 1986. At current levels, the
        Source: TeleTrac  -  182 words
      • Article, Illustration
        The first step to trading on Simex
        1022 26  -  Paul Leo offers some tips to those looking for a more exciting instrument to invest their spare cash Paul Leo IF YOU have spare cash, can afford to lose it and are looking for excitement, you can trade on the Singapore International Monetary
        1,022 words
      • Article, Illustration
        Financing your own home
        1051 27  -  Contrary to belief, staking a claim to a piece of property in Singapore isn't difficult, as Amy Balan discovered pleasantly Amy Balan Happiness is owning your own home. I remember taking that momentous step when my husband and I decided to buy our semi-detached home. I
        1,051 words
    • SPORTS
      • SIDE LINES
        • Article
          Warwick returning to Formula One
          116 28 SUZUKA, Japan Derek Warwick, who has steered a Peugeot to win the World Sportscars Championship this season, has picked his old stable to make his second comeback to Formula One racing. Footwork Mugen-Honda, the remnants of Britain's Arrows, said yesterday that the 38-year-old Briton would
          116 words
        • Article
          Jordan admits lying
          142 28 CHARLOTTE, North Carolina Basketball star Michael Jordan testified in court on Thursday that a U5557,000 cheque he wrote to a suspected drug dealer was payment for gambling debts. Jordan, who led the Chicago Bulls to two straight National Basketball Association titles, was a witness in the money
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          Sampras scores easy victory
          70 28 LYON, France Top seed Pete Sampras breezed into the quarter-finals but France's number one Guy Forget was sent crashing out of the US$6OO,OOO tennis tournament on Thursday. Sampras convincingly won a battle of the power serves with Switzerland's Olympic champion Marc Rosset 6-3, 3-6, 6-3. But
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        • Article
          Italians well-prepared
          79 28 MANFEILD, New Zealand The Italians are leaving nothing to chance in the 13th and final round of the World Superbike Championship this weekend. The Ducati factory has spared no expense to bring several dozen team-members riders, mechanics and officials to Manfeild. But Ducati can't lose. There's no doubt
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        • Article
          Mansell blazes away
          100 28 SUZUKA, Japan Nigel Mansell, with his first drivers' title under his belt, gunned his Williams Renault to the limit yesterday to sweep all before him in the first free practice session for the Japanese Grand Prix. The 39-year-old Briton, who will leave the Formula One circuit for
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        Lock icon McNulty shares Madrid lead with Montgomerie
        326 28 AFP MADRID A tip from South African Jeff Hawkes helped Mark McNulty to a six-under par 66 and a share of the first round lead in the Madrid Open on Thursday. The Zimbabwean's season has been wrecked by continuing back trouble and although he
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      • Article
        Lock icon Pavin takes one-stroke lead at Texas Open
        274 28 AP SAN ANTONIO, Texas Corey Pavin dropped a 15foot putt on his final hole to take a one-stroke lead on Thursday in the first" round of the Texas Open. The putt was important, Pavin said, but not the lead. "The putt was big
        AP  -  274 words
      • Article
        Lock icon Blue Jays' spirit keeping Toronto warm
        600 28  -  George Vecsey looks at the pride of Canada George Vecsey NYT THERE are teams that win pennants despite their management. The Yankees of 1976-77-78-81 won out of sullen talent and sheer meanness, exerting control on the field, the only place where their owner couldn't
        NYT  -  600 words
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        Lock icon Journey to the heart of fly-fishing
        862 28  -  Pete Bodo reflects on how director Robert Redford handled the sport of angling in his latest movie Pete Bodo NYT Director Robert Redford and his collaborators on the cinematic interpretation of Norman Maclean's distinguished novella, A River Runs Through It, put a lot of
        NYT  -  862 words
      • Article
        Lock icon Striker sets out to promote World Cup 1994
        286 28 AP LOS ANGELES The World Cup pup finally has a name Striker. A six-week nationwide US search to name the mascot ended with soccer play and paw prints on the cement outside Hollywood's Mann Chinese Theatre on Thursday. The famous theatre's courtyard
        AP  -  286 words
      • Article
        Lock icon Giant killers Higgins, Snaddon out of Rothmans Grand Prix
        212 28 AFP READING Rothmans Grand Prix giant killers John Higgins and Billy Snaddon were both beaten in the fifth round of the £425,000 (SSl.l million) tournament on Thursday. Scottish teenager Higgins was handed a 5-2 drubbing by England's Nigel Bond, while Snaddon,
        AFP  -  212 words
    • TRAVEL
      • Article, Illustration
        Learning skiing the Braden way
        661 29  -  POSTCARD FROM ASPEN By Patrick Harverson AT THE Vic Braden Ski College in Aspen, Colorado, they take the "school" part of "ski school" seriously. When I signed up for the five-day skiing course I received an introductory video, a recommended reading list, assigned exercises, and
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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 1.1330 1.1630 Canadian dollar 1.286 1.2% NZ dollar 0.8630 0.8830 Sterling pound 2.6270 2.6470 US dollar 1.6100 1.6180 Local dollars to 100 units of foreign currency Austrian schilling 13.13
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        WORLD TRADE EXHIBITIONS
        66 29 P"™ 110 Tltk Venue Onaniaer Td Duration Title Venue Onianiser Tel Nov 14-23 India New Delhi. Trade Fair (91)11/*****42 M/w i/liq irwk a International India Authority of Nov 2«9 20th Antiques Geneva Ongexpo 022/*****00 Trade Fair India air Nov 24-29 International Birmingham The Building 44-71/*****73 f 6
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    • Article
      CINEMA
      622 30 Basic Instinct Michael Douglas is a cop who investigates Sharon Stone for murder, and loves what he sees. More hype than substance, with a B-grade plot trying desperately to be stylish. R(A). Cathay 1: 11; 1.30; 4; 6.45; 9.15. Leisure-Drome: 1.30; 4; 7.15; 9.30. Yangtze 1:11; 12.30; 2.45; 5;
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  • Page 19 Advertisements
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      298 19 M h' HISTORY IN TIME i Planetarium Copernicus. Handmade in ISct gold, individually numbered, sapphire crystal, water resistant to JO m. Shockproof. Lady Newton. Automatic with power reserve, small second and date indicator. IBct gold or aeel/gold. Also available with a diamond set be?el ring. Planetarium Copernicus with lapis lazuli
      298 words
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      52 20 Malaysia: making tourism pay Rich Singaporeans j Strong Sings: concern and controversy What's happened to Hongkong's brain Tycoon Vincent Tan's juggling act 4»L«^ESE^WBi New life for furniture manufacturers IfB» Product development grants for SMEs Beating the software pirates I' y Investment spotlight on Jurong MALAVCia Engineering Ltd and OCBC Ltd
      52 words
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      Page 20 Advertisements Column 2
      42 20 J BT welcomes C k letters from you. > Please address them > S to: The Editor, r Business Times, J r 390 Kim Seng Rd, v S S'pore 0923. Letters J r should include your S P contact numbers. r L/\ /N 1
      42 words
  • Page 20 Miscellaneous
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      46 20 DOONESBURY GARRY TRUDEAU WBtGOTRY? THAfS CRAZY' II r~~~~ 'OF YOUR SUPPORTERS MINNItMOUSe COLESLAW' KB& YOUR Qtm<TER FROM W AK£P,STXE9E£POY7h£ BONKERS PRESS MYTH NO. MARRYING A JEUi, KfiORTW- M MUST SB. GROOU'NGEVI PENCEOF VT3! L-Y TMINTHB YOURBKXm... YOUR CHIUXEN WOK UKE W M&tA. YnriTMfXN Tnun JBOr-Z m
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      429 22 Nothing Beats A BudOF I HIGH TEA Tea-time treats and fashion parade r i! take centrestage at 'i CotyCorrw. [i l\l\ Every Saturday, I Sunday and Public HoMay. V V Sl3++ (Adul) I $8 ♦+(ChM under 10) [l >/ 3pm to 6pm J ""iT) J :j f QICHAIO PAHAOt HQTIt
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      Page 22 Advertisements Column 2
      267 22 WHERE TO WINE, DINE... V X ii i .•jg Our weekend high tea is so satisfying, people sometimes break into song. Choose from a sumptuous variety of savoury and sweet favourites. And if that's not enough, our Sunday tea special also includes Karaoke at Singsation, Singapore's only theme karaoke. Weekend
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      Page 22 Advertisements Column 3
      270 22 We VE JUST BRED A NEW WINNER at Thh Stables The Businessmen's Derby Lunch A delectable choicc of appetisers and soup, *°U° lwed closely by your pick from five delightful nuin dishes and a selection at desserts. Finish with coffee or tea. Only 128.00+ iii Orchard Eoad. Singapore 0923 Tel:
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      196 23 AND ENTERTAIN Sumptuous Salmon The King of Fish reigns supreme this month at Cafe-in-the-Park Enjoy its luscious taste and flavour at our Salmon Buffet from 19 to 30 October 1992. Available at dinner only from 7.00pm to 10.00pm $24.00+ per adult $12++ per child ANA HOTEL For reservations, pleist call
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      53 27 jr 1' —~1 Executive Housekeeper -this hotel| O I wants is me. Bub I'll never neglect I Any Job. Any Career. Available Any Day. Any Time. Anywhere. The Straits Times The Sunday Times Business Times The New Paper LIANHE ZAOBAO LIANHE WANBAO SHIN MIN DAILY NEWS BERITA HARIAN BERITA MINGGU
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      Page 27 Advertisements Column 2
      239 27 >JX)AN >-. Hm*» HMtk V Hb^^ Bk. w I j It's Quick and Easy. Get instant H 1 cash for your shares over the H| 1 counter at any of our 28 brandies. Use the loan for any purpose, i Loans from $2,000 to $100,000. MANY OF OUR CUSTOMERS HAVE
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  • Article
    AIRCRAFT ARRIVALS AND DEPARTURES
    1309 29 Cttjf Flight ETA Flight ETD /UM Mabi GA970 0010 GA976 0025 QF81 SQ228 1955 2025 QF82 2205 SQ319 0715 SQ342 2325 KL837 1340 KL838 2340 SQ286 2030 GF148 0855 Q S«ri Btp«M BI421 1105 SQ182 0915 SQ181 1410 BI422 1205 A BI429 2030 BI430 2125 Bangkok
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  • Page 29 Advertisements
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      Page 29 Advertisements Column 1
      41 29 Discover the lengths Finnair 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 atari to Finnish.
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      Page 29 Advertisements Column 2
      7 29 Advertising Marketing in Business Times every Thursday
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      Page 29 Advertisements Column 3
      955 29 BUSINESS TIMES Toll-«r—Tel No: 737-0043 Fax No; 734 3696 HONG LEONG HOTEL DEVELOPMENT LIMITED (Incorporated in Taiwan, Republic of China) To the Shareholders Notice of Capital Increase and Issuance of Redeemable Convertible Cumulative Preferred Shares ("Preferred Shares") by Hong Leong Hotel Development Limited 1. In accordance with the resolution adapted
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  • Page 29 Miscellaneous
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      253 29 -order to be plump and remove the sandy pressure a close 18 Where the driver's seat is 23 Officer will go back as he 28 1' has difficulty seeing 24 One from France in a cap ""^T~~~^^l"~~" ground (5) L—i—-U__J_—l—_L—l——l-—L—-25 Trap a girl (4) harm (4,3) w ho is ereedv
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      167 29 Singapore Outlook: Showers over several areas in the late morning and early afternoon. Report Maximum temperature 31.8 Assoc humidity— 66% Minimum temperature 25.0 Assoc humidity 94% Hours of sunshine 3.45 Rainfall in mm 13 Rainfall this month 173.8 Rainy days this month 12 World report Asia-Pacific Hi/Lo* Cond. Auckland 18/14
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      17 29 »i9k| si (DON'T Min .J (Tats 15 MIS LAID-BPC* Tfag.. ..J NEWSPAPERS LTO. INMNI 0790 V A.—■»
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      2210 30 TODAY'S TV Story And Melody (M). NFL American Football. Lampong Karam, 4pm, SBC 5 The Light Gourmet: The Fruit 4.00 Dari Setoerang. Black-and-white Malay mov- Basket, 12.35pm, SBC 5 in History ie about Lampong, which a Teaches us how Vitamins A ft W. t< Q iJTm TmLv village loyal to
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      Page 30 Miscellaneous Column 2
      645 30 MOVIES ON TV If It's Tuesday It StUI Must Be she needs to have her head Belgium, 11.30 am, SBC 5 examined, which is easily Comedy about a group of done, since the form said she American tourists who tour wa s committing herself as a Europe in one week.
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