The Business Times, 11 December 1993

Total Pages: 28
1 28 The Business Times
  • 15 1 Business Times WE KNOW ASIA MM A (P) 552/12/92 Weekend Edition, December 11-12 1993 75*
    15 words
  • 459 1  -  By Paul Leo SINGAPORE Regional stock markets surged to new heights yesterday as fund managers poured in money. In Singapore, the Straits Times Industrials Index gained 2.5 per cent or 54.08 points to a new record of 2,220.40. The broader-based
    459 words
  • 416 1 AFP HONGKONG Champagne flowed yesterday as Hongkong stock prices soared through the 10,000-point barrier. The Hang Seng index surged 2.38 per cent as investors ignored lingering doubts over ongoing Sino-British political disputes and poured record billions of dollars into local equities. The
    AFP  -  416 words
  • 315 1  -  By Shiv Taneja SINGAPORE Bank shares led the market yesterday, with OCBC Bank crossing the $14.00 mark in frenetic trading. It ended the day at $13.80, or $1.80 above its previous close on a volume of 2.24 million shares. In response to
    315 words
  • 544 1 Reuter, AP. Bloomberg Business News GENEVA Talks on the General Agreement on Tariffs and Trade, pushing perilously close to deadline, ran into a storm over shipping yesterday that could wreck a vital alliance between the United States and the
    Reuter,; AP.; Bloomberg Business News  -  544 words
  • 251 1  -  By Joseph Rajendran SINGAPORE Diversified Idris Hydraulic (Malaysia) has agreed to take over a Myanmar Government plywood company. In a sparsely worded press release to the Kuala Lumpur Stock Exchange yesterday, Idris said it would take over a plywood factory called Myanmar Timber
    Source: Bloomberg  -  251 words
  • 83 1 TOKYO Japan's economy confounded expectations yesterday when third quarter numbers showed gross national product rose 0.4 per cent over the previous quarter. The surprising figure failed to convince economists a recovery was at hand but raised the prospect that Tokyo may drag its feet over hoped-for
    83 words
  • 2am LATEST
    • 79 1 Reuter MOSCOW Russia may scrap restrictions on foreign banks, imposed by President Boris Yeltsin on Nov 18. Deputy Prime Minister Alexander Shokhin said yesterday. "As far as a possible abolition of Yeltsin's decree within six months is concerned it must be considered by
      Reuter  -  79 words
    • 62 1 Knight-Riddcr FRANKFURT The Bundesbank will not sanction any further interest rate cuts in 1993. the Frankfurter All\>emeine Zeitunf* said yesterday. In an article to be published today, the influential daily cited Bundesbank sources as saying that the central bank's council had no intention of cutting
      Knight-Riddcr  -  62 words
    • 75 1 Reuter WASHINGTON The United States is expcctcd to offer smaller food aid packages to developing countries during fiscal 1994. a US .Agriculture Department official said yesterday. A lot less will be done in 1994 "then we were able to do in 1993".
      Reuter  -  75 words
  • MARKET SUMMARY
    • 153 1 Reuter NEW YORK Wall Street stocks traded at mildly lower levels yesterday afternoon, with blue chips fluctuating around Thursday's closing levels. At Ipm EST. the Dow Jones industrial average was down about 0.56 point at 3.729.22. Reuter Stock market indices Friday Ckaacr ST11 2.220.40 54.08
      Reuter  -  153 words
  • Page 1 Advertisements
    • 56 1 Lifestyle Cover Story: el i The new country club deal Am IN a 1 r Hot stocks of 1994 BT asks six fund managers to pick next year's winners from stocks in Singapore. Malaysia and the region Personal Finance Investment, Page EL4 Foreign investors can take up to 30pc stake
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    • 27 1 Hock Lock Siew: Pg 6 Victims of privileged information Full reports, Pages 12-16 A toast to the market, Page 8 Patten throws down the gauntlet. Page 4
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    • 212 1 Stockwatch: t fPOs els- vjs3 m —H —Pfl Vickers Balla&jight timing; BifeUig into growth with Pan-United Foil report on Page 3 .;V* r_) Of lasting value jHT This watch belongs to the collection of antique watches at Rolex Geneva. The great tradition of the watchmakers of Geneva is preserved in
      212 words
    • 6 1 Restored properties: EL 6,7 Living legacy
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    • 49 1 &^:))@]|}\(%?(_=|<&?]*%~<<{.^(> CONTINTS Notts S'poretfsa 6.7 S pore News 2 Francal 9.10 Reponj News 3 World News 4.5 Martwte FMtNTM Ctob/iast SES 14-16 Opmens EL2 Rejioml 12.13 Epicure El 10 World 12 TV/Lrtestyte ELI2 Currencies 10 Sports____ ELB Smex/Conwo 11 SvtacriftiM Tel 1800-*****77 Fu *****75 BT Editorial Tel *****18 Fu *****71
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  • SINGAPORE NEWS
    • 356 2  -  By Abdul Hadhi HONGKONG buyers have bought almost 45 of about 130 units sold at Astor Green in Ulu Pandan Road. Sources said the units were bought after two week-long sales exhibitions in the colony. The exhibitions one at the end
      356 words
    • 407 2  -  By Teh Hooi Ling IT MAKES sense for Singapore to buy electricity from Malaysia because there is an abundance of natural gas, fuel oil and land across the Causeway, says the Public Utilities Board. Also, if Malaysia can generate the electricity more cheaply,
      407 words
    • 358 2  -  By A J Leow THE SUCCESS of the government's plans to transform the Singapore River into a residential and recreational hub would depend largely on expertise and initiative from the private sector, National Development Minister Richard Hu said yesterday. The state's
      Photo by Jiro Ose of Straits Times  -  358 words
    • 258 2 OPPOSITION Member of Parliament Chiam See Tong has won a court case over his expulsion by the Central Executive Committee of the Singapore Democratic Party. The High Court ruled yesterday that the committee's decision to expel its former Sec-retary-General was unlawful and invalid.
      258 words
    • 186 2 WITH the official reopening of its Scotts Shopping Centre outlet yesterday, toiletries and cosmetics chain The Body Shop is back in business. Now temporarily run by franchisor The Body Shop International (BSI), a total of eight out of the 12 Body Shop stores will
      186 words
  • Page 2 Advertisements
    • 153 2 BUSINESS TIMES/ FEMALE EXECUTIVE I JEJR JC Read the Business Times Anne Klein. Find out more in the "j Jrl Business Times jljp# w w™ from J-JBIIiJ 13 Dec to 18 Dec *93. Jpjj|C Bnv oeHmr BusinessDmes At Sayna, there are enough spicy (and not too spicy) dishes to fire
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  • Page 2 Miscellaneous
    • 535 2 I CRYPTIC CROSSWORD 1 I Alternate good and bad fortune on the roller-coaster HV 8 Temporary ruler, a lively per- I I I I I r^H 10 son in London (7,4) I One making an attempt nght I to leave the rank hH—HhH—Hht-U Snorkel pushed past some seaweed (4) I
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  • THE REGION
    • 668 3  -  From Anthony Rowley in TOKYO JAPAN'S economy appeared to confound all the pundits by showing fairly robust expansion in the July to September period, as revealed by the official third-quarter gross national product data published yesterday. A contraction had been widely predicted. "Extraordinary" was how
      668 words
    • 271 3 Bloomberg Business News, Knight-Ridder TOKYO Bank of Japan governor Yasushi Mieno said yesterday the central bank saw the need for "bold" deregulation and greater market transparency to bring about true economic recovery. "I think there's a need for dynamic private economy activity for
      Bloomberg Business News,; Knight-Ridder  -  271 words
    • 95 3 Reuter SYDNEY Billboard advertiser Paul Makucha doing his bit yesterday to try and resolve the rift between Australian Prime Minister Paul Keating and his Malaysian counterpart Mahathir Mohamad. Mr Keating has refused to apologise for calling Dr Mahathir a recalcitrant. Meanwhile, in Langkawi, Malaysia,
      Reuter  -  95 words
    • 172 3 UPI CANBERRA Prime Minister Paul Keating has written a personal letter to US President Bill Clinton seeking a better deal for Australian farmers disadvantaged by recent concessions to Europe and the US in the General Agreement on Tariffs and Trade (Gatt) negotiations. Mr
      UPI  -  172 words
    • 228 3 AFP LANGKAWI, Malaysia Indonesia will buy the Swissdesigned MD3 trainer plane to be produced by Malaysia, which in turn will acquire the Indonesian-produced CN-235 patrol aircraft, top officials said here yesterday. Jakarta also agreed to import Malaysia's national Proton Saga car
      AFP  -  228 words
    • 277 3 AFP HANOI Vietnam has chalked up an impressive record of trimming annual inflation from at least 7()0 per cent in the late 1980s to 4 per cent this year, but economists warn that the figure could
      AFP  -  277 words
    • 428 3 Reuter. AP, Knight-Ridder BEIJING China is preparing to introduce the most profound economic reforms in its history, Vice-Premier Zhu Rongji said in an interview published yesterday. The reforms including the first steps towards creating an independent central bank and a convertible currency are
      Reuter.; AP,; Knight-Ridder  -  428 words
    • 334 3 AP KUALA LUMPUR The proposal to ban foreigners from visiting southern Philippines would cause serious economic problems affecting trade relations with Malaysia and the development of the East Asean Growth Area (EAGA), says a Philippines senator. Mindanao Senator Santanina Rasul made
      AP  -  334 words
    • 295 3 Bloomberg Business News HONGKONG Working for foreign companies is paying off for Chinese workers in China, a survey by the Wvatt Company has shown. Their salaries increased by 22 per cent this year, up from a 15
      Bloomberg Business News  -  295 words
    • ASIA NOTES
      • 96 3 AP SEOUL Thousands of farmers, dissidents and students staged anti-government protests yesterday, accusing President Kim Young Sam of breaking a campaign pledge td keep foreign rice out. In the southern opposition stronghold of kwangju. 4.000 people marched with a black funeral bier, symbolising the
        AP  -  96 words
      • 102 3 Bloomberg Business News HONGKONG The volume of Hongkong exports in the first nine months of 1993 rose 15 per cent from the comparable 1992 period, according to government figures. The overall figure includes a 22 per cent rise in re-exports, and a 4 per
        Bloomberg Business News  -  102 words
      • 81 3 AFP LANGKAWI Prince Norodom Ranariddh. Cambodia's coPrime Minister, said yesterday that he is willing to hold peace talks with the Khmer Rouge in a last-ditch effort for national reconciliation to avert war. "I am ready, but it is up to Khieu Samphan to fix the
        AFP  -  81 words
      • 68 3 Reuter SEOUL The South Korean government will force nearly 100 more high-ranking officials to resign on suspicion of abusing their positions to amass fortunes, a government official said here yesterday. In all. 94 senior government officials will be asked to hand in their resignations
        Reuter  -  68 words
      • 90 3 AFP NEW DELHI India has offered to export an advanced nuclear research reactor to Thailand under international safeguards, the government told Parliament on Thursday. Bhuvanesh Chaturvedi. a junior minister in the prime minister's office, said the offer was made recently in response to a Thai
        AFP  -  90 words
      • 56 3 Reuter HONGKONG A Chinese official predicted yesterday thai* more mainland airliners would be hijacked to Taiwan if Taipei continued rejecting Beijing's demand that air pirates be repatriated immediately. Zhang Jiakun. vice-governor of the eastern provC ince of Fujian, spoke amid tension after the latest hijacking
        Reuter  -  56 words
  • Page 3 Advertisements

  • THE REGION/WORLD
    • 483 4  -  By S N Vasuki SINGAPORE South Korea's economy is expected to turn the corner in 1994 after two years of anaemic growth. Encouraged by a surge in domestic investment and a continued buoyancy in exports, analysts and bankers in
      483 words
    • 475 4 HK governor publishes electoral reform Bill, China attacks move Reuter AFP HONGKONG Hongkong Governor Chris Patten threw down the gauntlet to China by publishing an electoral reform Bill yesterday, part of his plans to bring greater democracy to the colony before the 1997 handover.
      Reuter; AFP  -  475 words
    • 255 4 Reuter, Bloomberg Business News BEIJING Labour Minister Li Boving said yesterday that China faces a big unemployment problem as large state industries slash bloated urban workforces just as more farmers leave the countryside for the cities. Mr Li said new urban unemployment during the
      Reuter,; Bloomberg Business News  -  255 words
    • 273 4 AP TOKYO Japan, mindful of its own domestic economic woes, yesterday offered a downbeat assessment of the global economy and warned against relying on government policies to guide industrial development. "The world economy is yet to show signs of strong
      AP  -  273 words
    • 341 4 Bloomberg Business News, Reuter WASHINGTON Consumer prices edged 0.2 per cent higher last month as a modest rise in food and beverage prices was offset by a steep fall in energy costs, the US Labour Department said yesterday. Excluding volatile food and
      Bloomberg Business News,; Reuter  -  341 words
  • Page 4 Advertisements
    • 308 4 Sound, Solid Secure Venture Capital B0 ofßUSt \9*? 4 t0 Qoid Margin iot** Trad,n9 rt a*° a Very High Risk -vYva^L-^" Very High Return Stocks Shares High Risk, High Return WH^ V CPF, T-Bills, Fixed Deposits No Risk, Low Return Yes, we believe a substantial portion of your savings should
      308 words
    • 219 4 f MAPLE QARDEN SEAFOOD RESTAURANT A New Dimension to Chinese Cuisine Assorted Barbecued Meat Platter Double-boiled Fresh Water Fish with Water Cress Sauteed sliced Cuttlefish with Jellyfish in a black pepper sauce Braised Goose Web with Sea Cucumber Fried Rice Yang Chow style Chilled Water Chestnut Cream Assorted Harbccued Cold
      219 words

  • THE WORLD
    • 484 5 Reuter, AFP, AP BRUSSELS A battle broke out at the European Community's summit yesterday over plans to pull the EC out of recession, with Britain strongly criticising proposed loans to finance a massive public works scheme. The continuing economic crisis
      Reuter,; AFP,; AP  -  484 words
    • 68 5 AFP JOHNSON SPACE CENTRE, Texas Astronaut Story Musgrave waving to cameras on Thursday after completing the fifth and Final spacewalk to repair the Hubble Space Telescope. Mr Musgrave was waving to express his thanks to the mission support team at the Johnson Space Centre. The repair team sent
      AFP  -  68 words
    • 350 5 Reuter, AP BRUSSELS Russian President Boris Yeltsin received a boost for his reform programme from the European Community on Thursday, but accused the Europeans of discriminating against his country. Mr Yeltsin, confidently travelling abroad despite Russia's first free parliamentary
      Reuter,; AP  -  350 words
    • WORLD WATCH
      • 93 5 AFP WASHINGTON There was a realistic chance of chemical explosions at a number of United States nuclear weapons sites, a Senate committee said. Several nuclear sites might possess many of the same conditions that existed at the Tomsk-7 weapons waste tank in Siberia, Russia
        AFP  -  93 words
      • 107 5 AP CALAIS After six years of hard labour and soaring costs, the Channel Tunnel project reached a milestone yesterday with the handover by the builders to the operating company that hopes to start service in March. The ceremonies in England and France symbolically marked the
        AP  -  107 words
      • 101 5 Reuter MADRID Spain's biggest union, the General Workers' Union (UGT), approved a 24-hour general strike to be staged in January in protest at the government's controversial labour market reforms. The top decision-making organ of the UGT voted unanimously on Thursday for the strike, proposed by
        Reuter  -  101 words
      • 64 5 Reuter LONDON United Kingdom producer price data for November, due for release on Monday, were likely to show output prices edging higher on the month, economists said. However, the annual rate of increase was likely to slow as the effect of a devaluation continued
        Reuter  -  64 words
      • 73 5 AP NEW YORK Princeton University scientists have produced the world's largest fusion reaction, raising hopes of harnessing an inexhaustible and cheap source of energy. The New York Times reported. The experimental hydrogen reactor at the Princeton Plasma Physics Laboratory produced a fusion power equivalent to about
        AP  -  73 words
    • 462 5 AFP AP MOSCOW Russian voters, still shellshocked by their brush with civil war last October, will cast their ballots tomorrow to elect a parliament and decide on a new constitution in a vote President Boris Yeltsin claims will restore stability to the
      AFP; AP  -  462 words
    • 299 5 Bloomberg Business News, AFP LONDON Britain's trade dcficit widened to a provisional £1 billion (552.4 billion) in September after August's "freakish" deficit of £347 million, the Central Statistical Office said. The revised figure is "even more exceptional" than the total originally reported, a
      Bloomberg Business News,; AFP  -  299 words
    • 163 5 UPI JOHANNESBURG South Africa's newly installed multiparty council, formed to create a climate for free political activity for the country's first allrace elections in April, has passed its first resolutions to combat political violence. The transitional executive council, TEC. looked
      UPI  -  163 words
    • 1420 5 ctty fhm m nw rre Abu Dhabi GA860 2000 Amsterdam KL837 1540 KL844 0535 KL838 2335 SQ324 2345 Athens SQ347 1730 SQ347 1735 Auckland NZ21 1710 NZ36 0055 BA11 1335 SQ286 2035 NZ22 1825 B Sari Begawan BI421 1105 SQ182 0915 SQ181 1410 B1422 1205 BI429
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  • Page 5 Advertisements

  • COMPANIES & MARKETS
    • 481 6  -  By Genevieve Cua SINGAPORE Food group Cerebos Pacific yesterday unveiled record year-end results, with turnover having crossed the $500 million mark and profits exceeding $100 million for the first time. Net earnings grew 23 per cent to $64.3 million on a
      481 words
    • 216 6 Bernama KUALA LUMPUR Innovest Bhd has proposed to rescind or abort its previously announced proposals in favour of a revised corporate restructuring exercise to turn the group into a viable business concern. An Innovest statement issued yesterday said that under the revised proposals, the group's
      Bernama  -  216 words
    • 197 6 SINGAPORE Electro Magnetics has said it will not be able to meet forecasts on sales and after-tax profit. EML had previously said it expected an after-tax profit of $1.05 million before extra-ordi-nary items on a forecast turnover of $40.54 million. Now the
      197 words
    • 886 6  -  HOCK LOCK SIEW By Lee Han Shih SINGAPORE The recent rollercoaster ride of PCI shares has added more fuel and perhaps confusion to the debate on what constitutes "price sensitive information". And it throws open the question
      886 words
    • 336 6  -  By Nirmal Ghosh SINGAPORE Sri Lanka's third private radio station, run by a joint venture between The Maharaja Organisation Limited (TMOL) and Singapore Telecom, went on the air yesterday. YES KM is an island-wide English channel and the first
      336 words
    • 325 6 SINGAPORE A Sembawang Maritime Limited (SML) subsidiary, Singapore Offshore Petroleum Services (Sops), will invest more than Sl5 million to expand its Loyang Offshore Supply Base. In an announcement yesterday, SML managing director Billy Lee said: "Sops is building not
      325 words
    • Article, Illustration
      378 6 Source: Bridge Info Performance of STII's Index stocks Dec 10 Ijm Sens* Index Stock sale C hee factor movers (S) (V) S Av.mo 2.010 0040 1.33 109 ("AC 8 400 0 350 5.55 9 50 CWT 2 930 0080 194 217 C'crcbos 7 300 0 100 4 82 2
      Source: Bridge Info  -  378 words
    • COMPANIES
      • 381 7 Bernama KUALA LUMPUR Tenaga Nasional Berhad (TNB) yesterday signed power purchase agreements with Port Dickson Power Sdn Bhd and Powertek Sdn Berhad, the third and fourth it has entered into with independent power producers, but this time addressing a different requirement from previously.
        Bernama  -  381 words
      • COMPANY BRIEFS
        • 47 7 SINGAPORE Recently listed Econ International Ltd has set up a new subsidiary' called Econ China Investments Pte Ltd. The firm, whose paid-up capital is $2, will do general contracting and investment in China. The firm has not started business yet.
          47 words
        • 70 7 SINGAPORE Goodman Fielder Asia Holdings has announced that it will sell 50 per cent of its stake, valued at 51.68 million, in Jasra Harrisons Sdn Bhd to Primrose Investment Sdn. Primrose is a Brunei investment holding company. Jasra Harrisons is in the business
          70 words
        • 87 7 Bernama KUALA LUMPUR Kuala Lumpur Industries Holdings Berhad recorded a 56 per cent decline in group pre-tax profit to M 54.08 million (552.6 million) for the six months ended Sep 30, compared with M 59.32 million in the same period last year. Group turnover
          Bernama  -  87 words
        • 62 7 Bernama KUALA LUMPUR Lion Land Bhd expects to achieve a profit of MS 100 million (SS62 million) for the year ended June 30. 1995, managing director Lee Chee Kuon said yesterday. He told reporters after the company's annual general meeting that he based his optimism
          Bernama  -  62 words
        • 64 7 IN the report, "Small-timers in Hillview/Upper Bukit Timah land bank race", published in BT on Thursday, we said that SB Development was the seller of a site at Jalan Rajawali and another at Jalan Selanting. This is wrong. The owner of the Jalan Rajawali site is Elite
          64 words
      • 181 7 Bernama KUALA LUMPUR MBf Holdings Bhd has reported a pre-tax profit of M 555.78 million (5534.92 million) for the nine-month period ended Sep 30, compared with M 574.74 million for the 12 months ended Dcc 31, 1992. MBf said in
        Bernama  -  181 words
      • COMPANY BRIEFS
        • 66 8 Reuter HONGKONG Sino Land Co Ltd said it may spin ofT its hospitality interests into a separately listed subsidiary holding company. Sino Land said discussions with professional advisers are at an early stage and may or may not result in a reorganisation. Share
          Reuter  -  66 words
        • 95 8 Reuter HONGKONG Far East Hotels and Entertainment Ltd said it has formed a joint venture with a unit of Cheung Kong (Holdings) Ltd to develop the Lai Chi Kok Amusement Park Co Ltd site into residential and commercial units. The move followed market
          Reuter  -  95 words
        • 68 8 Reuter JAKARTA Mercedes-Benz AG, the automotive division of Daimler-Benz AG, plans to start making new light trucks in Indonesia next year for sale locally and export into Asia, Joachim Manheiner, marketing director of PT German Motor Manufacturing, said. He said the newly-designed truck, a
          Reuter  -  68 words
      • 520 8 Itaucrt' jricn (S) Dec 11 13 Umbood+ 1055 108 n-it T 1 United Gr Fund! 1.61 1.67 Singapore unit Trust united au Fund i ss i The Commerce 1.73 1.82 NTUC InCOme The Savings Fund 1.64 1.72 ?'ZZ a to i« S'pore Prog Fund 0.73 0.77 Income Bond Policy 4.20
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      • 329 8 Bloomberg Business News TAIPEI The Government of Singapore Investment Corp has applied to bring in US$5O million (5579.5 million) of new funds to the Taiwan stock market, the Securities and Exchange Commission said. If approved, the investment arm of the Singapore
        Bloomberg Business News  -  329 words
      • 99 8 Reuter HONGKONG Shangri-La Asia Capital Ltd, a unit of Shangri-La Asia Ltd, said it will issue US$225 million (Ss3sB million) in seven-year 2.875 per cent guaranteed discount convertible bonds at U*****.36 per US$l,OOO principal amount for an issue discount of 13.764 per cent. Underwriters
        Reuter  -  99 words
      • 245 8 Bloomberg Business News HONGKONG An initial public offer of shares by Dao Heng Bank Group Ltd, part of the Guoco Group, was 278.7 times subscribed, the group said in a statement. The group was issuing 35.53 million shares for HK521.70 per share and
        Bloomberg Business News  -  245 words
      • 486 8 MARKET *AZ AT/- U Bloomberg Business News HONGKONG Stock prices shattered the psychologically important 10.000 mark yesterday morning, fuelled by high hopes on the territory's future after 1997 when it reverts to Chinese rule, brokers said. "After the past two or three days,
        Bloomberg Business News; Reuter  -  486 words
      • SHIPS IN PORT
        • 480 8 Vrud toy Wo Berth fcmri Dqxrture Vessel Voy Wo Berth Unwel Departure Jwwi Port Dotplwi 58 P03 11.12/0900 11 12/1500 Baton Map 112 xxw* 11.12/2300 Elm SC264C 100IC* P01A 1012/1530 10.12/1900 Uradtwi 9313 J2 aiongs** 1112/0100 Etona SC264C llttC* P01A 11.12/0800 11 12/1300 M lestan 022 J12
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        • 1581 8 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO DELIVERY OF FCL IMPORT CONTAINERS IN PROGRESS Wp fay Ho Corrtaentn avafabte Ship Voy No Containers ivabbte Anda *****N *****3 1605 Chaya Bhum 29S COO(tST) *****3 2300 Normand* Br 28E 0912.93 1630 B Metiti 068 COO(EST) 10.12.93 2300 Marenllte 9402
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    • FINANCE & COMMODITIES
      • 379 9  -  Move will improve local banks' capital base By Harish Mehta SINGAPORE Vietnam has given the green light to local commercial banks and joint stock finance firms to sell up to 30 per cent of their shares to foreigners. Business Times understands
        379 words
      • 449 9 Bloomberg Business News WASHINGTON Banks make billions of dollars in profits from the fees they charge customers for bounced cheques, a consumer group said on Thursday. The commercial banking industry collected U554.35 billion (Ss7.o billion) in bounced cheque fees last year, while
        Bloomberg Business News  -  449 words
      • SMALL CHANGE
        • 68 9 Bloomberg Business News WASHINGTON Assets of money market mutual funds available to individual investors rose by U553.72 billion (555.94 billion) in the week ended Wednesday, the Investment Company Institute said. The 654 funds had total assets of U*****.53 billion. For the 274 institutional
          Bloomberg Business News  -  68 words
        • 46 9 Reuter LOS ANGELES First Interstate Bancorp said it signed a definitive agreement to acquire BancWest Bancorp for US$35.B million (5557.2 million) in cash. The price for the 486,140 outstanding shares of BancWest is 1.5 times book value, First Interstate said. Reuter
          Reuter  -  46 words
        • 60 9 Reuter TORONTO Royal Bank of Canada said it faces a potential loss of C 57.6 million (Ss9.l million) from an alleged fraud by an employee at one of its suburban Toronto branches. A 39-year-old Toronto woman appeared in court on Thursday charged with'
          Reuter  -  60 words
        • 72 9 Bloomberg Business News SANFORD, Florida Prominent financial adviser Charles Givens Jr was sued yesterday by Florida on allegations that he has misrepresented the benefits of his programme, inflated his own success and failed to provide refunds due. Givens is author of a best-selling personal finance
          Bloomberg Business News  -  72 words
      • 290 9 Bloomberg Business News WASHINGTON Citibank plans to drop annual fees on seven million credit card accounts in an aggressive bid to capture a larger share of the US$2OO billion (Ss3lB billion) industry. In addition. Citibank will lower the minimum payments
        Bloomberg Business News  -  290 words
      • 313 9 Reuter HONGKONG United States rating agency Moody's yesterday downgraded the long-term debt of the govern-ment-owned Mass Transit Railway Corp due to concern over the political risk of handing the colony back to China in 1997. But the MTRC hit back, saying Moody's
        Reuter  -  313 words
      • 161 9 AFP, Reuter JAKARTA National flag carrier Garuda Indonesia obtained a USS7S million (SSII9 million) loan from a Singapore bank and will borrow another US$5O million from a Hongkong branch bank, a company director said yesterday. Garuda's finance director Yazid Adam said the
        AFP,; Reuter  -  161 words
      • 331 10 Reuter BOMBAY India has launched the latest phase of its financial sector reforms with the first stock market flotation of one of its state-owned financial institutions, bankers said yesterday. The Industrial Finance Corporation of India (IFCI) launched a 5.25 billion
        Reuter  -  331 words
      • 421 10 Reuter TOKYO The Japanese banking system will remain unstable amid volatility in local stArk markets unless the Finance Ministry (MOF) takes long-term steps to slash banks' excessive stock investments, said London-based international rating agency IBCA Ltd on Thursday. Stock price falls may
        Reuter  -  421 words
      • 435 10 DBS Weekly Currency Review US$/DM: Corrections before more gains? THE greenback corrected after recent gains to reach a low of 1.6985 on Tuesday before recovering to 1.7112 on Wednesday. It then eased to 1.7020 on Friday. Although the technical outlook still favours the upside, potential
        435 words
      • 206 10 Reuters LONDON Lloyd's of London chairman David Rowland said the insurance market was planning for 1994 capacity of at least £9.5 billion (5522.7 billion) for budgeting purposes, compared with around £8.8 billion this year. Mr Rowland said he expected the actual
        Reuters  -  206 words
      • 263 10 Reuter WASHINGTON A US central bank official warned yesterday that American banking laws could suffer if the rulers of Abu Dhabi are granted immunity from prosecution in a civil lawsuit against BCCI. the now-defunct banking institution shut down amid allegations of
        Reuter  -  263 words
      • 96 10 DALLAS Halliburton Co said it had signed an agreement with the Shengli Oilfield operations of the China National Petroleum Corp to form a sister company relationship. Shengli is the second largest field in China, producing 570,000 of the nation's 2.8 million
        96 words
      • 227 10 Bloomberg Business News LOS ANGELES Occidental Petroleum Corp said its fifth major discovery well in Malaysia boosted estimates of total gas reserves in the field by 20 per cent. The oil company said its Cili Padi-1 well, the fifth drilled on a reef
        Bloomberg Business News  -  227 words
      • 140 10 AN initial flurry of activity in the US$/yen on rumours of further rate cuts in Tokyo fizzled out and the market settled back into listless trading yesterday. The regional currency markets saw an extremely quiet day and market players were mostly sidelined except for commercial
        140 words
      • 174 10 LONDON The dollar remained out of favour in Europe vesterday as speculation of a rise in US short-term interest rates faded following soft US inflation data. By 1600 GMT the US currency was quoted at 1.6972/82 marks after hitting a session low of 1.6932 following a downside break through
        174 words
      • 160 10 ENERGY REPORT Reuter LONDON Brent crude futures held onto morning gains but looked exposed to further selling pressure, traders said. January IPE Brent traded at USsl3.76* at 1146 GMT, 11 cents up following trader shortcovering and a stronger North Sea physical market. Concerns that
        Reuter  -  160 words
      • Article, Illustration
        1655 10 Trade-weighted index calculated against Spore's lop 14 trading partners Base year I9B< US$/S$ forward rates Noon Dec 10 ss Bid Offer 1-month 1 5969 1.5984 2-month ***** 1.5978 J-month 1 5959 1.5974 6-momh 1 5950 1 5970 Sourer OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES As at ltea nDkIO; Singapore
        1,655 words
      • 90 10 NEW YORK The dollar was under pressure from other major currencies yesterday in New York in slack trading after the release of the consumer price index. At about 9:30 am (1430 GMT), the dollar traded at 1.6970 German marks, down from 1.6990 marks earlier in London and 1.7040
        90 words
    • COMMODITIES & FUTURES
      • 1421 11 SIMEX REPORT Reuter SINGAPORE Euroyen futures were marginally firmer as dealers continue to buy up the contract on any dip on continued hopes for a rate cut. September ended at 98.25 against 98.23 previously on a total of some 23,390 lots traded. Dealers said the release
        Reuter  -  1,421 words
      • 603 11 COMMODITY REPORTS Tin Tin closed eight cents lower at MSI 1.80 per kg. mainly due to an initial high offers by miners and falls in London market. Traders said there was an opening offer of 100 tonnes against bid of 26. Final turnover
        603 words
      • KNIGHT-RIDDER COMMODITY SUMMARY
        • 63 11 TOKYO Aluminium alloy prices in Japan have risen 2.6 per cent this month due to falling stockpiles, but are failing to keep pace with price gains at the London Metal Exchange. LME prices for aluminum alloy have risen US$4O (5563.60) a tonne this month to
          63 words
        • 69 11 NEW DELHI The Indian government has raised minimum sugar cane prices in a hid to entice farmers to cultivate land for cane. Food Minister Kalp Nath Rai told Parliament yesterday. Minimum prices have been raised to 340.50 rupees (S$ 16.35) a tonne in the
          69 words
        • 47 11 KUALA LUMPUR Malaysia's cotton imports were 1,779 tonnes in August, down from 8.601 tonnes in July and down from 4.205 in August 1992. the Statistics Department said yesterday. In the January-August period, imports totalled 31.615 tonnes, eompared with 34.896 during the previousyear period.
          47 words
        • 58 11 CHICAGO ContiQuincy Export Co and Bunge Corp on Thursday announced an export marketing programme for American soymeal intended to improve export logistics. ContiQuincy will coordinate its midstream loading export operations in the lower Mississippi River near New Orleans with Bunge's facility at Destrehan. Louisiana. The
          58 words
        • 68 11 TOKYO The annual Japan-Canada wheat import agreement was set at 1.2 million tonnes for calendar 1994. unchanged from the 1993 agreement. the Japan Food Agency said yesterday. An agency official said the quantity was not revised because it did not foresee substantial changes in demand in
          68 words
    • 1666 11 Rubber MS Commodity Exchange (futures closing as at 1pm) RSS 1 Contract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Jan 94 131.25 130.25 130.50 525 550 Feb 132.75 132.75 132.00 50 4.275 Mar 134.25 133.25 133 50 450 7.025 Apr/Jun 135.75 135.75 135 50
      1,666 words
    • REGIONAL STOCK MARKETS
      • 1220 12 •10.8 The Australian share market rifted lower yesterday as a lack of foreign direction triggered modest profit-taking in quiet trade boosted only bv turnover in MIM. The All Ordinaries Index ended 10.8 points down at 2.084.9, just above its low of 2.084.4. News Corp shed four cents AS 10.24.
        1,220 words
      • 613 12 10 Share prices closed at new all-time highs as the local market reflected advances made in other Asian markets and investors positioned for the expected bullrun next year, brokers said. The Manila composite index rose about 10 points at the close while Makati jumped about 20 points. Blue chip
        613 words
      • 580 12 -36.23 Taiwan share prices ended lower across the board on profittaking after sharp gains and brokers said the market would start a substantial correction. The index fell 36.23 points to end at 4.644.03. Turnover slid to NT543.2 billion from Thursday's NT558.76 billion. Sentiment was cautious also on newspaper reports
        580 words
      • 486 12 17.77 Blue-chip euphoria backed by liquid institutions prodded the stock market into a fresh gallop, pushing the index to hit a new year high, brokers said. But lowpriced shares lost momentum. The composite stock index added 2.11 per cent, or 17.77 points, to 861.72 from the previous year high
        486 words
      • 302 12 -4.56 Shares ended a lacklustre session slightly easier on moderate volume. The barometer NZSE--40 capital index closed 4.56 down at 2,103.97 on volume of NZS44 million. The expected completion of the Gatt global trade talks next week has the potential to give the market a boost, brokers said.
        302 words
      • 89 12 78.94 Stock prices closed up despite higher than expected carry forward costs being fixed by the Bombay Stock Exchange (BSE) yesterday, brokers said. The BSE 30-share index closed at a provisional 3,407.52, up 78.94 points from the previous close, but below the day's best of 3,444.32 points. The 100-share
        89 words
    • WORLD STOCK MARKETS
      • 801 12 Britannia Funds Sterling Cash Bid Offer Mim Cap Orpout 38 6400 38 6500 Mim Jeney Gilt 0 1893 0 1992 MM Man MM ****** *1 1000 I SS Cash Income Plin Fund *****0 II 1900 PS Revrvc Fund S 2200 5 2300 Stertiag Equity Euro Performance 0 4592 0 4938
        801 words
      • 594 12 -10.3 LONDON Share prices ended with the FTSE 100 index slightly lower after a lacklustre session at the end of the two-week trading account. The FTSE 100 ended down 10.3 at 3,261.3 after moving above early lows as the cash market tracked FTSE futures. Strategists said the market undertone
        594 words
      • 126 12 -13.27 French shares yielded under the weight of pre-weekend profit-taking, ending the week just under the 2.200 level on the CAC-40 index, dealers said. The CAC-40 index ended down 13.27, or 0.60 per cent, at 2,198.13 Over the week, the index gained 0.44 per cent. Volume was 3.75 billion
        126 words
      • 119 12 -0.75 pc Swedish shares ended the week lower as an early decline in index-heavy Ericsson was followed by Americans sellers entering and pushing down the whole market. The OMX-index fell 0.85 percent to 1051.13, while the blue-chip top-16 index was down 0.95 percent at 1413.08. The All Share index
        119 words
      • 140 12 -0.47 pc Shares ended slightly easier as the market paused to take stock of recent gains and heavy volumes, traders said. The Mibtel index was down 0.47 per cent to 10,238 vs high 10.288. Among blue chips seeing heavy volumes, telecommunications group Sip was down 37 lire to 3,351,
        140 words
      • 199 12 -0.67 pc German share priccs closed slightly lower in lacklustre, low-volume trading, with downwards potential limited by firmer futures priccs, traders said. The DAX Index closed 0.67 per cent lower at 2.161.13, down from record bourse close of 2.175.80. The December DAX futures contract was up 8.0 points at
        199 words
      • 138 12 -3.33 Belgian shares closed quietly lower on some profit-tak-ing in what traders expected was the start of a consoiida- tion period after the market's recent gains. But traders said the undertone remained bullish, raising expectations of further gains in the medium term. Some profit-taking after recent gains pushed Belgian
        138 words
      • 256 12 -0.14 The Dutch stocks ended mixed to a touch lower as professional investors moved to lock in gains during the afternoon. That was to close their positions ahead of the weekend, traders said. The EOE index of 24 leading Dutch stocks ended 0.14 point lower at 395.07. Decliners out
        256 words
      • 243 12 +2.4 Swiss shares ended a quiet day little changed as priccs fluctuated in a narrow range ahead of the weekend. The weak dollar, which hovered around just above 1.45 Swiss francs, dampened sentiment. The Swiss National Bank's annual monetary statement failed to enliven trade. The broad SPI index was
        243 words
      • 318 12 -14 Limited profit-taking by local sellers cooled off overheated shares after this week's buying frenzy on the Johannesburg Stock Exchange. but foreign buying in late trade pared earlier losses. The gold index ended 14 points lower at 2.050 while the industrial index shed 15 points to 5.057. The overall
        318 words
      • 239 12 -4.73 Stocks weakened across most sectors in sluggish early trading as investors extended Thursday's profit-taking, dealers said. The TSE 300 index dropped 4.73 points to 4285.90 in trade of 11.07 million shares valued at CS 123.00 million. Declining issues led advances 192 to 148 with 257 stocks unchanged. On
        239 words
      • 833 12 +0.55 The Dow Jones industrial average, which retreated 4.75 points on Thursday, was ahead 0.55 point to 3730.33 at 11 am EST. The key barometer was ahead 5 points shortly after the market opened. The New York Stock Exchange composite index was off 0.12 to 256.88, while Standard
        833 words
    • Article, Illustration
      3196 13 Reuter HONGKONG Stocks closed stronger after a day of hectic trading as heavy institutional demand sent the Hang Seng Index to a record finish of 10,228.11, up 237.85 points or 2.38 per cent, brokers said. Trade was dominated by foreign funds which have sent the main index to close
      Reuter; Source: Bridge Info  -  3,196 words
    • Article, Illustration
      471 13 The B share market remained quiet, with the CLSA All China B Index up marginally by 0.47 per cent. It closed at 1314.11 up 6.19 points. Pilkington Glass stole the limelight, surging 87.5 per cent to close at US$l.35 from its IPO price. In Shenzhen the CLSA B index
      471 words
    • Article, Illustration
      2486 13 Reuter TOKYO Stocks closed firmer but off highs on a late flurry of dealer position squaring. A worsening of business sentiment shown by the Bank of Japan's (BOJ) quarterly corporate survey lifted hopes of a rate cut. propping up the downside despite bearish fundamentals, brokers said. The key Nikkei
      Reuter; Source: Bridge Info  -  2,486 words
    • Article, Illustration
      1126 13 Reuter JAKARTA Share prices closed higher in moderate trading. brokers said. The official index rose 3.14 points to 528.46. "The regular market seemed to be rather active lately. It was quite a healthy volume, with foreigners selectively buying in first but more in second liners while local investors speculated
      Reuter; Source: Bridge Info  -  1,126 words
    • 2871 14 Source: Bridge Info Source: Bridge Info MOST ACTIVE volume KM B Mil MMlMMt KJTTJH ■■mmMMc IIJMU— Promct m,«MOO McMaftta Mr MDMM kjmunting >0c 571.000 Mclropkx 1SK 7.164 000 W1DBMK fc.72lj000 uncial Corp 6.675.000 Mcmm orp IMM \mjl Mri MR. t> V.-IMI0 Lkh Hoc rSK47 6. VVVOOO IVgi Msia
      Source: Bridge Info  -  2,871 words
    • KUALA LUMPUR STOCK EXCHANGE
      • 5758 14 Bernama KUALA LUMPUR Share prices here recovered from earlier losses to close higher yesterday on bargain-hunting activity, fuelled in part by firm regional bourses. The Emas Index of all main board shares ended 3.04 points higher at 319.50. while the 85-share Composite Index rose
        Bernama; Source: Bridge Info  -  5,758 words
    • STOCK EXCHANGE OF SINGAPORE
      • 7423 15 I IWKKWM Transaction (fair. Dec 10 Gr Gr 1993 Last Vol Day Last Qoote Di' Di» YM Not M Im High Low Coapaay Sal* C000) High Lo. Boyer Seller Or P/E taiil industrial and commercial 1400 260 t Acma 1340 +40 526 1400 1300 1330 1340 12.5 2.1 0 9
        7,423 words
      • 1789 16  -  By Paul Leo SINGAPORE The bull run gained steam yesterday, pushing the local stock market to record levels. Right from the start of trading. the benchmark Straits Times Industrials Index just kept heading north. By the end of the day. it had surged
        Source: Bridge Info  -  1,789 words
      • 151 16  -  HOT STOCK By Paul Leo YESTERDAY'S trading in United Overseas Land 1997 Warrants was very significant. First, the price broke above the previous high of 65 cents achieved on Nov I to end at 73 cents. Second, yesterday's low was one cent above the previous day's high
        151 words
  • Page 6 Advertisements
    • 284 6 You wake up cold and hungry. Now you begin another busy day with your favourite coffee and toast significant economic and financial you or your company. Or opportunities. That's why you have Business Times *vnr delivered to your home, every business day. You are more knowledgeable impressively informed on marketing,
      284 words

  • Page 7 Advertisements
    • 26 7 Table of unit trusts is on Pg 8 0l^t'signer Trousers b.i'cn Look Good O/Z Your Bank Balance. I ROI SI-KS 1 ROM sw. CHARLES JOURDAN Paris
      26 words
    • 1486 7 MALAYSIA TAIWAN THaii a nA 'LAHo S LIMITED Incorporated in Singapore GROUP CONTINUES STRONG PROFIT GROWTH Pre-Tax Profits of S$lO6M A New Record EPS 23% Ahead of Last Year Directors Recommend Increased Dividend Plus Bonus Dividend RESULTS FOR THE FINANCIAL YEAR ENDED 30TH SEPTEMBER 1993 The Directors are pleased to
      1,486 words


  • Page 9 Advertisements
    • 269 9 i #W, W s 4 Some look at the global Our customers see marketplace and see complexity opportunity. CHASE understands the nearly 50 countries—product special- But more importantly, it has helped complexities your company ists 9 professionals with an in-depth us bring our customers the ultimate faces as you raise,
      269 words


  • Page 11 Advertisements
    • 372 11 BUSINESS TIMES TOLL-FREE TEI-. No 1-800-741-1883 FAX 741-1296 M THE MATTER OF THE COWPAMES ACT, CAP. 50 HO U U (S) PTE LTD. (ki Voluntary Liquidation) At an Extraordinary General Meeting of the member* of HO U U (S) PTE. LTD. duly convened and KM at 63 Sum Avenue, Singapore
      372 words
    • 31 11 As and when the latest Rotterdam priees are not available, the previous trading dav's closing figures are carried instead co// 737-1166 to place a quick- CJ i rs acting ad. 737-1166
      31 words


  • Page 13 Advertisements
    • 80 13 EstaWished s.nce 1919 AW7WUE ESTATE WATCHES Shcmgri La hotel St^^ GJ monds Tel: 732 5689 SmaM and 2 carat A above Manufacturing jewellers since 1919 ROLEX J§/ 1 s Three long yeans /fe) !u) "k Mow -for other n-l essential papers. Any Job. Any Career. Available Any Day. Any Time.
      80 words
    • 6 13 The Bangkok market was closed yesterday
      6 words


  • Page 15 Advertisements
    • 50 15 Established s.nce 1819 ANTKXJE ESTATE^ Shangri-La hotel Stockist of G.I A. Certified Diamonds Tell 732 5689 (Laser Numbered) Smal mid 2 carat A above Manufacturing jewellers since 1919 ROLEX Call 24 hours a day for shares to buy, coming issues results of your share application. Cost 50 cents per minute
      50 words

  • Page 16 Advertisements
    • 80 16 tJlhofe Batj 0, Ifoj or not to Ifyg and I River View Hotel I Talks I I strategically located outside the CBD I I with close proximity to Orchard Road and Shenton Way. For enquiries, please call us toll-free on 1800-235 9770 A (S i-fe <)& < 382 Have lock
      80 words
    • 109 16 MAXD^YOimGA^ goes on a house hunt How much are private properties going for? Should you buy now, or later? House Hunt gives you the actual transacted prices of all private property sold in Singapore each month. SPOTLIGHTS: IK CORP. INNOPACIFIC HOLDINGS From that, you'll i mmmn I have a Clear
      109 words

  • Executive Lifestyle
    • 1607 17  -  You no longer have to be very rich to belong to a country club. Susan Tsang looks at what's being offered to the masses Susan Tsang OVER the years, the average Singaporean's pipe dream hasn't seen much change. A nice car, a piece of private
      1,607 words
    • STRAWS IN THE WIND
      • 81 17 A YOUNG management trainee called up a reporter friend, concerned that he had spoken too freely to another reporter. The reporter explained that whatever he told the reporter was quotable, since the conversation was not "off-the-record". The trainee thought for a moment and said: "You mean it's
        81 words
      • 46 17 A COLLEAGUE told us how she had three hamsters, one of which was bitten on the paw by her terrier. As it turned out, the hamster survived, but not its two playmates, which died from the shock of witnessing such a savage attack.
        46 words
      • 72 17 CHINESE entrepreneurs or at least the organisers of the Second World Chinese Entrepreneurs Convention in Hongkong recently really mean what they say about frugality. During the three-day convention. journalists were barred from the lunches, with the excuse that they were "not open to press coverage". And to top
        72 words
    • OPINIONS
      • 735 18  -  Neville Stack says that in bad times, an enlightened government should be devoting as much time to the morale of its society as to its money Neville Stack The writer is a political commentator based in luyndon. He writes regularly for
        735 words
      • 796 18  -  A M Rosenthal wants strong measures to combat rising urban crime in America A M Rosenthal The writer is a columnist with the Sen York Times THE CITIES of America will not get much safer until the people who live in them
        796 words
      • 801 18  -  As General Motors' share price approaches its all-time high after 28 years Tom Petruno sees warnings for investors Tom Petruno CONGRATULATIONS, of sorts, are in order for longtime General Motors shareholders: after 28 years, they're about to break even. GM stock finished at
        801 words
      • 609 18  -  LETTER TO THE EDITOR P J George Singapore 1544 I AM of the opinion that the procedures implemented by the Central Depository (Pte) Ltd (CDP) for the scripless trading of shares are unduly onerous insofar as shareholders are concerned. For example, for
        609 words
    • PROFILE
      • 4075 19  -  Martin Scorsese may be one of the most admired film-makers in the world, but he has had to fight hard to get almost every one of his movies made. No wonder the director of The Age Of Innocence is always so angry, reports Russell
        The Sunday Times, London  -  4,075 words
    • PERSONAL FINANCE & INVESTMENT
      • BULLS EYE
        • 587 20 Those polled on their views of the Singapore stock market for the week ahead: Alliance Securities. Baring Securities. Crosby Securities. Daiwa Securities. Kay Hian James Capel, Kim Eng Securities. OCBC Securities. Ong Company, Peregrine Securities, Phillip Securities. Smith New Court, and WI Carr. Buy! Daiwa
          587 words
        • 225 20  -  Robert C S Tay Vice-president Morgan Grenfell Asia Securities HE Straits Times I Industrials Index usually advances from mid-December to midFebruary. In the past 12 years, this Capricorn or January effect has taken place nine times. By this token, by buying into selected fundamentally sound STII stocks,
          225 words
      • 2596 20  -  Six fund managers tell Agnes Chen the stocks they must have for the coming year Agnes Chen Dennis See DENNIS SEE of Indosuez Asset Management (Singapore) manages the Gartmore Indosuez Fund (Asean) and the Indosuez Singapore and Malaysia (SAM) Trust. The Asean fund gained 88.5 per
        2,596 words
      • 850 20 Launch 1 mth 3 mths 6 mths 1 yr 2 yrs 3 yrs launch 1 mth 3 mths 6 mths 1 yr 2 yrs 3 yrs Ranking as al December i 1993 Ranking as at December 6, 1993 S S S S Singapore Straits Times Credit
        850 words
      • 915 21  -  Two initial public offerings vying for investors funds By Joyce Quek VICKERS BALLAS Holdings is good for the stock broking industry, say analysts. They are recommending that clients bid between $2.80 and $3.41 per share for the 42.52 million shares on tender.
        915 words
      • 804 21  -  Agnes Chen finds out the strategies of two fund managers Agnes Chen A MARKET guru blew hot then cold in Hongkong, Japan sneezed, and brokers got cold feet in Singapore and Malaysia. As a result, November was marked by volatility in
        804 words
      • 1149 21  -  By Juliette Walker PAN-UNITED Corporation's strategies to expand, diversify and regionalise add up to one thing: growth. And investors will have a chance to catch this wave when the family-owned company offers 138 million shares in an initial public offering priced at 72 cents a
        1,149 words
    • 705 22  -  By SHAHIRON SAHARI Cinema Review DO NOT expect the definitive version of The Three Musketeers in this Walt Disney adaptation of Alexandre Dumas' 1844 novel. Why this movie was even made, especially since it comes nowhere close to the enjoyable 1973 Richard Lester effort, is anyone's guess.
      705 words
    • 768 22  -  By R SIVANITHY CD Review VARIOUS ARTISTES: Stone Free, A Tribute To Jimi Hendrix No single musician has ever had as much influence on rock, rhythm and blues, heavy metal and jazz as James Marshall Hendrix, whose untimely death at the age of 27 remains one of music's
      768 words
    • Article, Illustration
      795 22  -  Conservation can work wonders. Jaime Ee witnesses the stunning results in a book on select properties that have been restored to their original splendour Jaime Ee living legacy By Robert Powell Singapore Heritage Society 216 pages $70. PUT AN old colonial black and white bungalow in front
      Photos taken from the book  -  795 words
    • 750 22  -  By CHUANG PECK MING Book Review I he Myth Of Free Trade B> Ravi Batra Charles Seribner's Sons 274 pages $51.75 RAVI BATRA has thrived on good timing combined with a dark touch of controversy and scholarly pretensions. His first book. The Great Depression of
      750 words
    • 667 23  -  By SAMUEL EE Motoring YOU've seen the classic car ad, the type splashed all over one or two pages, in full colour, and usually of a top-of-the-line model. But there is a large limousine in Singapore that doesn't need advertising. But not because it's overwhelmingly popular. On
      667 words
    • SPORTS
      • 607 24  -  Singapore vs Malaysia Annual Match Golf By Shahiron Sahari SINGAPORE Mohammed Said Abdul EatifT, whose scores didn't count when Singapore won the Putra Cup last month, more than made amends when he scored the winning putt for Singapore to thrillingly beat Malaysia B'/2-7'/2 in their
        Photo by Chris Loh  -  607 words
      • 311 24 AFP MUNICH Defending champion Michael Stich. who led Germany to its Davis Cup triumph at the weekend, continued his winning run at the International Tennis Federation's USS6 million (559.5 million) Grand Slam Cup here on Thursday when he defeated plucky New Zealander Brett
        AFP  -  311 words
      • SPORT SHORTS
        • Article, Illustration
          37 24 Reuter NEW NBA lhursda>: Atlanta 105 San Antonio 95; Charlotte 95 Geveland 93; Indiana 111 Orlando 105; Dallas 93 Seattle 125; Houston 115 Miami 109 (OT); Phoenix 114 Washington 95; Golden State 81 NY 95. Reuter
          Reuter  -  37 words
        • Article, Illustration
          64 24 AFP LONDON England's new chairman of selectors will be named next March, the Test and County Cricket Board announced here on Thursday. The board set up a fivestrong working party on Thursday to encourage nominations as successor to Ted Dexter, who resigned in August after England's eighth Test defeat
          AFP  -  64 words
        • Article, Illustration
          123 24 AFP AFP AFP LONDON Jeff Maggert will re- place fellow American Paul Azinger in next week's world golf championship in Jamaica following the US PGA champion's announcement that he has cancer. Maggert. the 29-year-old Walt Disney Classic winner, finished 11th in this year's US Money List. AUCKLAND New Zealand
          AFP  -  123 words
        • Article, Illustration
          30 24 Reuter NEW YORK NHL Thursday: Boston 2 Vancouver 3 (OT); Detroit 3 St Louis 2; New Jersey 2 Quebcc 3; Philadelphia 2 Washington 4; Dallas 6 Ottawa I.
          Reuter  -  30 words
        • Article, Illustration
          86 24 UPI PARIS Former triple Formula One champion Ayrton Senna was given a two-race suspended ban Thursday by the International Automobile Federation (FIA) after he admitted punching a fellow race driver. Senna told the sports governing body he had struck Eddie Irvine after the Japanese Grand Prix because he believed
          UPI  -  86 words
        • Article, Illustration
          38 24 Reuter NEW YORK Monica Seles, out of action for months because of a stabbing wound, hinted strongly Thursday that she will defend her Australian Open title next month, but said she still needs more match play. Reuter
          Reuter  -  38 words
    • PEOPLE
      • Article, Illustration
        245 24 SONY Singapore celebrated its 20th anniversary with a lavish dinner for friends and dealers at the Shangri-La Hotel lyMinister for Health and Community Development Yeo Cheow Tong was the guest of honour. In his speech, he complimented Sony Singapore for their strong support of the Community Chest
        Photos by Arthur Lee  -  245 words
    • TIME OFF
      • 612 25  -  Shahiron Sahari meets Suzie Wong and has a drink with Johnny Walker Shahiron Sahari SOME say it's an unfortunate choice of name and concept but Suzie Wong just seems like a lot of fun. The World of Suzie Hong was the name of a
        612 words
      • 691 25 ICE-COLD Beer, a new nitcspot on Emerald Hill, makes no bones about what it offers beer served as cold as ice. Sure, the bar serves other standard porings plus a nine-inch, nofrills hot dog. but this place is unashamedly about beer, beer 'and more
        691 words
      • 525 25 Puss In Boots The ever-popular tale about how a cat helps his master go from rags to riches is retold by Act 3. Best for kids under four. Till Dec 12. Bpm at the Drama Centre; with extra performances on Dec 3. 4 and 10 at 10.30 am and
        525 words
      • Article, Illustration
        466 25 SSO Concerts Choo Hoey the conductor, will conduct the SSO as they perform a selection of Strauss' waltzes and polkas like the Kaiser Waltz, the Pizzacato Polka and the Egyptian March. Today, 8.15pm at the Victoria Concert Hall. Tickets at $4. 57, $10, $15 and $25 available from all
        466 words
      • 88 25 The Blue Planet Produced with Nasa's help, this film takes you on a trip to space where the Earth seems suspended in a limitless void. We see how natural catastrophes have devastated life here. Too bad Man is intent on contributing to the destruction. 1 lam. 12pm. 2pm. 4pm.
        88 words
      • 854 25 The Master Stone Carvers of Zimbabwe The first exhibition of Shona sculpture in Singapore. A rare opportunity to see the sculptures being created by hand with limited pieces for sale. Till tomorrow. I Oam to Bpm at the Clarke Room. Westin Stamford Hotel. Free admission. Mao Zedong
        854 words
      • 91 25 Mugam and Mirugam A double bill of two plays, the former originally written in Mandarin by Han Lao Da which looks at the issue of 'losing face' and the latter, based on Edward Albee's The Zoo Story, examines the growing alienation and debauchery beneath the veneer of
        91 words
      • 99 25  -  Compiled by Christopher Toh Les MiseraWes Produced by Cameron Mackintosh. Victor Hugo's masterpiece comes alive in Singapore Feb 4 to Apr 17. Group and special bookings can be made at special prices. Counter sales at all Sistic outlets. Tickets from $35 to $140. Call Stephanie: 294-0708 Sistic outlets are
        99 words
    • EPICURE
      • 675 26  -  By JAIME EE Bon AppetH SINGAPORE has gotten to the stage where if you throw a pack of spaghetti in any direction, chances are that it will fall on the doorstep of an Italian restaurant. This time around, we cast our tortellini in the direction
        Photo by Chris Loh  -  675 words
      • 790 26  -  By N K YONG Wine WITH Christmas and New Year's Eve just around the corner, it's time to start planning for the dinner parties, particularly for the latter. New Year's Eve is a good cxcuse (if you need one) to bring out the best bottles to celebrate
        790 words
    • Article, Illustration
      1060 28 Mother Stakeout Cops Richard Dreyfuss and Emilio Estevez continue their put-down routine. Yishun: 10.05; 4.35; 7. Demolition Man. When psycho criminal Wesley Snipes escapes into a docile future world, rabid cop Sly must catch him. Lido 1. Capitol: 11; 1.30; 4; 6.30; 9.15. plus midnight tonight. Chinatown 1. Jurong
      1,060 words
  • Page 17 Advertisements
    • 196 17 muamMasm The w«W way of turning shares into §> HONOLEONOnNAMCtUMrrU MNOAPOfIE RNANCC UMTTCD *****33 *****33 W VMM REVERSO. Avant-garde since 1931. //Ak THE LIVES ON IN REVERSO OUR MASTERNEVER ON THEIR NEITHER ON OVER 150-YEAR TRADITION OF MAK- v >Ys/v?>\^^^H INC THE I^Vw^H MECHANICAL MOVE- \j^H THE FAME OF REVERSIBLE
      196 words

  • Page 18 Advertisements
    • 29 18 Wf Name Address: ■WUiWH S'pore Tel: (Res) (Office) Mail/Fax/Telephone to: Customer Relations Section Circulation Department 1 Singapore Press Holdings Ltd, 82 Genting Lane Singapore 1334. Tel: 1800-*****77 Fax *****75
      29 words
    • 25 18 BT welcomes letters from you. Please address them to: The Editor, Business Times, 390 kirn Seng Rd, S'pore 0923. Letters should include your contact numbers.
      25 words
  • Page 18 Miscellaneous
    • 112 18 TUG. DRPfG. SUIT UJHH TU£ tt<ttT--Snu PsEe ir> GOW6 TO 1 VGLVeT eocfl£C£. tb£is VCXJ TOmpfc£\ u>ef\R J p£RtMPiPeTBc>uS£ES... fooL of looescxr if YDU TURM U 3 j > Fiajo9£JSG£**T SOCKS FSMJ fXT n<- F«Rf*VS CHfcISVnKS DWMe* \Buje. sueoe suoes... UMtW Pv D««VOOKC «N NbUR NOS£ f\HO y o P
      112 words


  • Page 20 Advertisements
    • 33 20 Recharge Your Batteries With Water FANTASY WATERBEDS PTE LTD 15 Enggor Street (off Anson Rd) #01 -03 Realty Centre Singapore 0207 Tel: 226 1055 Fax: 226 1054 Mon-Sat: 11am-Bpm. Sun Public Holidays: lpm-7pm.
      33 words

  • Page 21 Advertisements
    • 100 21 Fly 4 times a week to Cambodia (Every Tuesday, Wednesday, Friday Sunday) ANGKOR WAT, has been out of reach to lourisls for dccades. Now, people are rediscovering r J just what makes this temple one of the Seven Wonders of the World. M CAMBODA.A INTONATKHAI CARRIER d OMBGDA^T CAMBODIA r
      100 words


  • Page 23 Advertisements
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  • Page 24 Advertisements
    • 125 24 ADVERTISEMENT BusinessDmes/KENWOOD GOLFING TIPS By BRETT BRASIER PROFESSIONAL GOLFER Fully Qualified Member Of 5.P.G A,s Dip in Golf Management -shoulder if will eventually your fv lEg alignment and confidence as you struggle i to keep the ball stright. So, if you have a I choice/ warm-up in a right-to-left wind.
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  • Page 26 Advertisements
    • 332 26 GENUINE TASTE OF ITALY. Come and dine at Pasta Fresca. Let our wide range of authentic Italian pasta, pizzas, ice-cream and cappuccino thrill you. And of course, don't miss our most-talked about dessert, Tiramisu. PASTA FRESCA DA SALVATORE PTE LTD BIIC 833 iOl-03 ROYALV*.LE BUWT OMAH ROAD SINGAPORE 1027 TEL'
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    • 75 26 Refrigerated Wine Cellar gnHH tiMH Your perfect answer to wine storage in the tropics Model 999 Capacity up to 144 bottles Price: 552,525.00 (inclusive of delivery set up m S'pore 12 months warranty Available ex-stock from the Sole Agent: BONIABLE BONTABLE AGENCIES (S) PTE LTD #03-05 Sin Cheong Building 47
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  • Page 27 Advertisements
    • 657 27 M Nothing Beats A Bud, fit Cafe Carousel J3*. Q ***** (jyiTVUSa boulewro HOTEL 200 Orchard Boulevard Singapore 1024 Te1:737 2911 HjHMUHlifl High Tea OK Every Saturday, Sunday and Public Holiday let our KJs help you on your feet and lead you to the stage. From 3.00pm to 6.00pm, Connections
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    • 279 27 WHERE TO WINE, DINE AND ENTERTAIN Our weekend tea is so satisfying, people sometimes break into song. Hn Kr Choose from an astonishing variety of savoury and sweet favourites. And if that's not enough, our tea special also includes karaoke at Singsation, Singapore's only theme karaoke lounge. So pop over
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    • 281 27 Delectable Yoag Do* Fa BuHel at Chatterbox every Satniday and Sanday. 12.30 pn to 5 pm 514.50 per person $6.50+ per child (below 10 yrs) Mezaarme Sumptuous Continental It Local Afternooa Tea spread at Mezzanine Lounge. Daily. 2 pm to 6 pm $16.00 per person $10.00++ per child (below 10
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  • Page 28 Miscellaneous
    • 2310 28 TODAY'S TV i 8.00 Gerbert Kniorts ArthUr China s Mosts. 9am, SBC 8 900 Children's Club. cdt C k 10.00 Heroes On Hot Wheels. A look at achievements of W 1Q 3Q Ro6otech Two syndicates fight over a which the country is particu- pL n.OO The Little Flying Bears, ver
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