The Business Times, 7 September 1996

Total Pages: 24
1 24 The Business Times
  • 14 1 THE BUSINESS TIMES MITA (P) 04(V12/95 85c SINGAPORE Internet: http://www.asial.com.sg/biztimes WEEKEND EDITION, SEPTEMBER 7-8,1996
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  • 58 1 Dsn 20*70 (-13.64) PI BTOOMP mm mw (-8.40) niMB4 mm WM3(-9.i6) ■Ill ■WETIMMCEB Friday Change KUEOMP 1,106X1 tl« WKRB MttttM ma BAUD SENG lljRUH HH 8BT INDEX 1307*1 -1M7 JAKARTA COUP __Mt7* *M MANILA OOIP -*****1 -21.40 TAIPHWPI imn 14.73 SWULCOMP 784.0ft AM C18ACBNAB 8I1U 4.44 AU6T ALL
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  • 69 1 «A"Wag uss ss UBS i.m t IJ47 im DM- I.C74 0J47 YBim Utf 1188 MS_ 0.400 %M» HKJ 0.1» 0.182 BART «tOI» 0.0§5 BJFIAH1M 9.045 0.060 PSOBIATES SINGAPORE* 6.44 WIAUUWUE. 9.25 JAKARTA— 18.00 BANGKOK 1125 MANILA 13.50 HONGKONG 8.50 in. 3.» gfOfftt. 10.75 TOKYO 1M SEOUL 10.96 ZWBCH** 4.00
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  • 557 1  -  USA data show 37% fall but observers say impact of anti-speculation curbs may be worse By. Abdul Hadhi [SINGAPORE] The government's anti-speculation measures in mid-May have had an immediate impact on the volume of property transactions, latest official statistics confirm. Data released by the
    Source:  -  557 words
  • 490 1  -  Loan default rumours, poor company results undermine sentiment From Alan Boyd in Bangkok THE Thai stock market crashed to its lowest level for nearly three years yesterday as disenchanted foreign investors signalled a crisis of confidence in the country's economic performance. Rocked by continuing
    Source: Bloomberg  -  490 words
  • 280 1  -  85% expect to buy car within 6 years of graduation: survey By i Christopher Tan [SINGAPORE] Young Singaporeans want cars. But for some, not just any car will do. One in 15 undergraduates expect to be able to
    JIM McMANUS  -  280 words
  • 379 1  -  Listing application withdrawn in view of market conditions, says DBS Bank By Lee Han Shih [SINGAPORE] The Robert Kuok group has suddenly aborted its plan to list its Singapore property arm, Allgreen Properties, barely a week after announcing it It had withdrawn its
    379 words
  • 215 1 Angnst figures calm fears of rate hike: analysts AFP, Reuter [NEW YORK] Wall Street stocks rose nearly 50 points in late-morning trading after August US jobs data calmed fears that the Federal Reserve might hike interest rates immediately, analysts said. At 1 pm, the Dow
    AFP,; Reuter  -  215 words
  • Page 1 Advertisements
    • 142 1 mSDDE I." v-f 1I ■■ms far the rich Sorry, this designer of homes for Singapore's super-rich does not do Corinthian columns, ELS 4 7 Art mart The Art Galleries Association of Singapore is giving first-time buyers a helping hand, ELI CMHpany moving rapidly away from electronics. It chalked up losses
      142 words
    • 8 1 Flighty short-term money making Thailand vulnerable? Pg 4
      8 words
    • 122 1 Llhe lather. lilte sow. Fa yl ii r^lkV^k Following in the footsteps of DHL's Jumbo Box conies the new Jumbo Junior. For shipments up to 10kf the new Jumbo Junior offers same day pick up, customs clearance and door-to-door delivery for just $98 to anywhere in Asia, $148 to North
      122 words
    • 4 1 Jot*falls to 5.1 Pg6
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  • SINGAPORE AT HOME & ABROAD
    • 239 2 PRIME Minister Goh Chok Tong yesterday urged private sector employees to contribute to the Community Chest's Share programme. Speaking at a thank-you ceremony for the Chest's 1996 Care and Share campaign, Mr Goh noted that only 18 per cent of private
      239 words
    • 434 2  -  Big wag* component and less room for productivity rise, cost committee told Byi Chuang Peck Ming THE prices of domestic services tend to rise faster than those of goods because wages make up a big chunk of the cost of services,
      434 words
    • 324 2  -  It's set to be global communications provider with new $16m HQ By. Audrey Tan DESKTOP publisher Xpress Print is set to transform itself from being a printer of financial reports to an international communications provider with the opening of its new premises, founder and chief executive
      324 words
    • 122 2 APEC ministers for telecommunications and information, who met in Australia this week, have reaffirmed their vision of creating an AsiaPacific Information Infrastructure (APII) linking the region. The Ministry of Communications yesterday said the ministers endorsed a range of cooperative activities and pilot projects in
      122 words
    • 433 2  -  Audited charts and tables found to be free of material error By 1 Teh Hooi Ling THE Auditor-General of Singapore yesterday endorsed the tables and charts provided by the Ministry of Health which showed the government's healthcare subsidies. "The Deputy Auditor-Gen-eral has, in
      433 words
    • 663 2  -  Polymer, automation, trading firm aims to be original equipment manufacturer Teh Hooi Ling ENTREPRENEUR Oei Han Siang has big plans for his CEH group he wants to turn it into Singapore's version of a chaebol or an industrial conglomerate. After aU, he
      ARTHUR LEE  -  663 words
  • Page 2 Advertisements
    • 898 2 lurl HTP HOLDINGS LIMITED (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HERSSY GIVEN that the Annual General Meeting of the Company wtt be held at Marina Mandarin Singapore, Taurus Room, Level 1,6 Raffles Boulevard, Marina Square, Singapore *****4, on Monday 23 September 1996 at
      898 words
    • 8 2 Singapore Biiiiess |j -Giving you the winning edge
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  • Page 2 Miscellaneous
    • 312 2 CRYPTIC CROSSWORD APR4MW 17 Nero and I could have accepted alternative raw material (4,3) j 20 Where those who seek amuseamusement! 27 Aston's team is at home, scoun--29 Notal aircraft regarded as having WW*#** 80MTTK*. moved abroad (9) U PtaU. dweller left a loner Doun down iwHwaqiitiiiam 15See2 Win.Fl Bf
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  • FOCUS: PERSONAL FINANCE & INVESTMENT
    • BULL'S EYE
      • 657 3 Those polled for their views on next week's Singapore stock market outlook are: Alliance, Daiwa Securities, Fraser, GK Goh, HG Asia, ING Barings, Merrill Lynch, Deutsche Morgan, lip♦(Switch) OCBC Investment Research, Sep 5, $1.70 Weaker results were expected but net profit came in below our projections. Earnings
        657 words
      • Article, Illustration
        363 3  -  Stewart Aldcroft Marketing and sales H,, director Templeton Franklin Investment Services (Asia) Ltd HE Singapore unit I trust industry has X come a long way in the last few years with the development of many new funds offering a wider choice for local investors. It is also
        363 words
    • 1086 3  -  Ostrich investments don't spell get-rich-quick so here are some rules to play by before you invest in those big birds Reports by, Lee Yoke Har [SINGAPORE] WANT to buy an ostrich for investment? These are some cardinal rules to observe: understand what the industry is all
      ARTHUR LEE  -  1,086 words
    • 83 3 [SINGAPORE] Points to ponder before buying that ostrich: ♦Chicks are vulnerable between the ages of one and six months. ♦Breeders may be productive judging by industry numbers but like humans, they could one day decide they are tired of breeding. ♦A typical ostrich's commercial value, either
      83 words
    • 466 3  -  By\ Lee Yoke Har [SINGAPORE] When it comes to price performance, CPF trustee stocks seem no different from the rest of the pack. You have winners and you have losers. But in a closer look at how trustee stocks that cost less than $3
      466 words
    • 571 3  -  ETC ON THE REGION: JAKARTA Shares yet to reamer from selling by foreign find managers By\ S N Vasuki THE Jakarta stockmarket should be booming. Any market underpinned by strong economic fundamentals and sound corporate earnings growth would normally be witnessing an
      FILE PHOTO  -  571 words

  • REGION
    • 431 4  -  SINGAPORE Pond mana&rs welcome move but see little impact on stock market for now By. Paul Leo THE move by Malaysia's Employees Provident Fund (EPF) announced yesterday to allow its contributors to invest part of their funds in authorised unit trusts from
      431 words
    • 407 4 KUALA LUMPUR AFP MALAYSIA'S 1997 budget will focus on formulating strategies to reduce the country's trade deficit, Deputy Prime Minister Anwar Ibrahim said yesterday. The programme would continue in subsequent budgets until the deficit problem was rectified, Mr Anwar said at
      AFP  -  407 words
    • 342 4 NEW YORK Moody's downgrades country's debt rating to Prime-2 Reuter A FLUSH of flighty short-term capital, testing the mettle of Thailand's economic and monetary authorities, is likely to remain a source of instability, US market experts say. Moody's Investors Service Inc downgraded Thailand's short-term
      Reuter  -  342 words
    • 64 4 [BANGKOK] A Thai plainclothes policeman packing together counterfeit Polo shirts after police raided a small factory here recently. Thailand is taking steps to enforce copyright laws and halt rampant counterfeiting. Hundreds of raids are made each year on factories of all sizes making knock-off copies of
      REUTER  -  64 words
    • 303 4 JAKARTA Bernama THE city of Jakarta will raise the annual tax on foreigners living in the Indonesian capital by an average five times in a bid to give a "sense of justice" to local employees who generally have
      Bernama  -  303 words
    • 562 4  -  LBTTOtrftOM VIHNTIAMB Greater transparency my hrfp homfl confldftncft In Lao currency By Harish Mehta LAOTIANS are shy and reserved. Some say they are shy to a fault. Years of isolation made them that way. This reserve can be very frustrating for foreign businessmen. For
      562 words
    • 127 4 JAKARTA AFP BEIJING has told Indonesia that a recent visit by Taiwan's Foreign Minister to Jakarta could harm bilateral relations between China and Indonesia, the Chinese embassy said yesterday. "The arrival of the Taiwan Foreign Minister John Chang, in an official or even in
      AFP  -  127 words
    • ASIA Notes
      • 40 4 AFP [BEIJING] China's President Jiang Zemin has reiterated his offer to visit Taiwan, Xinhua reported yesterday, on condition that Taiwan stops all "splittist activities" such as trying to return to the United Nations. —AFP
        AFP  -  40 words
      • 36 4 AFP [TOKYO] Tomio Uchikoshi, 45, a former branch manager of Japan's Sanwa Bank Ltd was arrested yesterday on suspicion of illegally withdrawing 550 million yen (Ss7.l million) from a customer's account —AFP
        AFP  -  36 words
      • 42 4 Bloomberg Business News [SHANGHAI] General Motors Corp was last month granted project registration approval fin* its above US$l billion (SSI.4 billion) Shanghai joint venture with Shanghai Automotive Industrial Corp, a Chinese official said. —Bloomberg Business News
        Bloomberg Business News  -  42 words
    • 467 5 HONGKONG Govt radio report says process will allow public to see who backs whom Reuter BEIJING signalled yesterday that it was trying to choose Hongkong's future leader in a transparent way, drawing a cautious welcome in the nervous British territory in the
      Reuter  -  467 words
    • 315 5 HONGKONG AFP HONGKONG'S chief justice resigned yesterday after announcing his decision to run as the territory's first chief executive after the handover to China in 1997, a government spokesman said. Chief Justice Yang Ti Liang is to step down as Hongkong's top judge
      AFP  -  315 words
    • 438 5 TOKYO But easy credit still needed to help it reach self-sustaining stage, says EPA Bloomberg Business News, Reuter JAPAN's gradual economic recovery remains intact despite some weakness emerging among businesses, but it still needs the help of easy credit for full recovery, the government said yesterday.
      Bloomberg Business News,; Reuter  -  438 words
    • 119 5 SHANGHAI Reuter CHENGDU, capital of the south-west China province of Sichuan, has set up an investment zone for Taiwan companies that has since attracted US$36O million (Ssso4 million) in promised investment from 27 Taiwan firms, the Liberation Daily said yesterday. The zone, covering six
      Reuter  -  119 words
    • 348 5 TOKYO Bloomberg Business News JAPAN will still overtake the US and Europe in the next century because of its strength in manufacturing, not services, author Eamonn Fingleton told the Bloomberg Forum. "The Japanese are investing very heavily in new manufacturing processes and
      Bloomberg Business News  -  348 words
  • 1648 4 CITY FU6HT ETA FU6HT ETD Hat Yal MI893 1405 TG408 0820 AtaMaU L nm«7 0130 TM07 2105 IMM »40 AMaMo S0230 1830 0F82 2055 S0977 1655 S0978 0130 oral 1930 Ho CM MM) VN741 1300 VM740 WO Amman RJH87 0t30 EK72 1730 S0174 1415 RJ187 0130
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  • Page 5 Advertisements
    • 1207 5 Rfflj CHUAN HUP HOLDINGS LIMITED ANNOUNCEMENT The Directors are pleased to announce the audited results of the Company and the Group for the year ended 30 June 1996. Litest Yew To Preview Year To 30 Jene 1996 30J»n0199S ♦orCompsny Gnwp Company Qrowp Company Group SS 000 81 000 SSOOO M'ooo
      1,207 words

  • THE WORLD
    • 463 6 WASHINGTON Some analysts cantion that economic growth is not moderating Bloomberg Business News, Reuter, AFP AMERICA'S economy added more jobs than expected in August as the unemployment rate fell to 5.1 per cent, the lowest level in more than
      Bloomberg Business News,; Reuter,; AFP  -  463 words
    • 303 6 KANSAS CITY, Missouri Bloomberg Business News FORECASTS for a slowdown in US economic growth in the coming months are probably accurate, although the Federal Reserve has yet to determine whether it must lean harder against potential inflation, Fed governor Janet Yellen said on Thursday.
      Bloomberg Business News  -  303 words
    • 313 6 crTsis IN IRAQ WASHINGTON AFP US DEFENCE Secretary William Perry said Baghdad was pulling its heavy forces from northern Iraq amid reported clashes between rival Kurdish factions, but insisted Washington had the right to launch new missile strikes. Meanwhile, Sulaymaniyah, the last
      AFP  -  313 words
    • 181 6 WASHINGTON Bloomberg Business News MORE Americans see the country headed in the "right direction" than at any time since the end of the Gulf War in 1991, according to a new ABC News/Washington Post poll. That news is especially sweet for President Bill
      Bloomberg Business News  -  181 words
    • 291 6 White House Jidif WASHINGTON Good record will see little change in economic team Bloomberg Business News TREASURY Secretary Robert Rubin will remain at his post if President Bill Clinton wins re-election in November, Clinton aides predict. It's also a good bet
      Bloomberg Business News; FILE PHOTO  -  291 words
    • 180 6 WASHINGTON LAT FEDERAL officials announced a series of steps on Thursday to combat terrorism, including recommendations to make US$3OO million (SS42O million) in improvements to airport security that would see the government assume more of the burden for ensuring that passengers and cargo on commercial
      LAT  -  180 words
    • 120 6 CERNOBBOI, Italy Bloomberg Business News BUNDESBANK president Hans Tietmeyer said German interest rates will stay put for the time being and warned against overestimating the strength of Germany's economy. While saying that the central bank's rate reduction two weeks ago will stand "for
      Bloomberg Business News  -  120 words
  • Page 6 Advertisements
    • 528 6 •TO ADVERTISE CALL TOLL-FREE 1800-741 1883 Ik ANA HOTELS JIIIIL SINGAPORE LTD. JKw\\\ll(lncorporated in the Republic of Singapore) The Directors announce the unaudited results of the Company for the six months ended June 30,1996. 1996 1995 JAN-JUN JAN-JUN (Ss) (SS) la. TURNOVER 18,708,300 18,531.500 I.o+ b. INTEREST INCOME 14,100 14,600
      528 words
  • Page 6 Miscellaneous
    • 36 6 DOONESBPBY By Garry Trudeau eouHATPoescumoNß ieuessy:- RieHTUMP MARCH MEAH? M I THAT ABOUT URAPS UP S. 1 STANPIN6H&ZB /|N HAs-mis'NewpeMocxAr 1/ W our CoNvemioN courage) t uithalgorz...) Ic RCAurkeNOUNceoeveßt- 1/ k. en.etMONr? I vy 15, Lj§|Fp
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  • COMPANIES & MARKETS
    • 404 7  -  Sing Tel will use funds to upgrade network over next 5 years and nurture new services By Genevieve Cua [SINGAPORE] Singapore Telecom will invest $131 million over the next five years to upgrade the paging network, said its chief executive BG Lee Hsien Yang yesterday.
      CHEW SENG KIM/ST  -  404 words
    • 230 7  -  Listed electronics subcontractor is paying NZs2&2m By. Abdul Hadhi [SINGAPORE] Moving further into the hotel industry Down Under, mainboard-listed Singatronics is buying a hotel near Auckland airport for NZ$2B.2 million (5527.3 million). Singatronics said yesterday it had agreed to buy Auckland Airport Travelodge from
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    • 257 7 [SINGAPORE] Sembawang Maritime Ltd (SML) received a notice of takeover offer from Sembawang Corporation yesterday, setting in motion the statutory time-table for the $258 million offer. Bankers Trust, acting for minority shareholders of SML, said yesterday the notice and a statement in
      257 words
    • 690 7  -  HOCK LOCK SIEW S N Vasuki THE Riady family, founders of Indonesia's aggressive Lippo empire, have moved swiftly in recent days to reassure investors that they are not "cashing out" of the group's listed companies. Fund managers had expressed concern that
      690 words
    • 168 7 [SINGAPORE] Mainboardlisted electronics contract manufacturer PCI Ltd has sunk into the red with a hefty $21.9 million net loss for the year ended June 30. This compares with net profits of $3.6 million in the previous year. Group turnover fell 48
      168 words
    • 416 7  -  Asian investors said to have a hand in Reaney's departure By\ Lee Han Shih [SINGAPORE] A boardroom coup at Australian food giant National Foods has sparked speculation that Asian investors, including Camerlin, had played a major role. On Tuesday, Nat Foods strongman Graham
      416 words
    • 214 7  -  By, Jennifer Lien [SINGAPORE] Marine-based Chuan Hup Holdings yesterday reported a 21.1 per cent drop in group net profit to $6.99 million for the year ended June 30, dragged down by losses at its contract manufacturing associate PCI Ltd. The result was well below
      214 words
    • SINGAPORE & MALAYSIAN COMPANIES
      • 348 8  -  Bapepam said to have asked for removal of crossholding arrangement hYom! S N Vasuki in Jakarta THE Lippo Group's plan to restructure its listed financial services units has run into some turbulence. Indonesia's Capital Market Supervisory Agency (Bapepam) was reported to have asked the
        348 words
      • 276 8 {SINGAPORE] Liang Court Holdings has appointed three new directors to its board, including Paul Chain, who will join the company as managing director and chief executive officer from Sep 16. The other two directors are Kwa Soon Bee, former permanent secretary of the Health Ministry,
        276 words
      • 288 8  -  20% stake part of plans to regionalise its leisure business By I Genevieve Cua SINGAPORE Technologies Industrial Corp (STIC) yesterday said it will invest $13.8 million in three leisure projects in Zhengzhou, Xian and Pudong in China. The investment is part of
        288 words
      • 145 8 [SINGAPORE] Homegrown switchgear maker SMB United is launching its initial public offer on the mainboard here on Monday despite the current lacklustre stockmarket sentiment. The listing is to fund the group's $15 million plant expansions in Singapore and Johore. and its manufacturing activities here and
        145 words
      • COMPANY Briefs
        • 50 8 (SINGAPORE! ANA Hotels reported an interim net profit of $1.58 million, up 11.8 per cent from the same period last year. Turnover rose only one per cent to $18.7 million. Earnings per share was 3.29 cents while net tangible asset backing per share was $1.56.
          50 words
        • 70 8 (SINGAPORE! Noel Gifts International's net profit for the year ended June 30 jumped 52 per cent to $716,000. The rise came on a 0.7 per cent better turnover of $20.9 million. Profits were boosted by contributions from the group's new franchises in Thailand and Malaysia.
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        • 32 8 (SINGAPORE] Teledata Singapore Ltd said a substantial shareholder, Shamsuddin Abdul Kadir, sold six million shares at 90 cents each yesterday. This reduced his stake to 8.64 per cent
          32 words
        • 56 8 Reuter [KUALA LUMPURJ Former central bank governor Jaffar Hussein has been appointed a director of Malaysia Mining Corp Bhd (MMC) and chairman as of yesterday. He stepped down from the Bank Negara post in 1994 after taking responsibility for the bank's huge foreign exchange
          Reuter  -  56 words
      • 221 8 [SINGAPORE] Singapore Technologies Industrial Corp yesterday announced a complicated deal to merge a subsidiary of its 50 per cent owned Singapore Food Industries with a company called Farmers Abattoir Pte Ltd. FA is a dormant company owned by KMP Bunge Pte Ltd and Sembawang
        221 words
    • SHIPS IN PORT
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      • 1569 8 RECEIVING OF EXPORT Fa CONTAINERS AND La CARGO ■wUhnJtrtirt Rstts SMp Voy m/mt Hho4 frm T> Frwn taotm «a mm a mm mm mum 04/DM 07/MM R/mi i oraao mmm mm warn m/mt mmm to** MM m» U MM 07M4M MM mw mnm OT-MOC 4 07/1280 07/MM 07/1700
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    • INTERNATIONAL COMPANIES
      • 370 9 Analysts see wave of 'red chip' issues flooding HK before 1997 handover Bloomberg Business News, Reuter [HONGKONG] Shenzhen Stock Exchange officials proposed some Shenzhen-listed companies have secondary listings in Hongkong, the South China Morning Post reported yesterday. The proposal, which calls for more
        Bloomberg Business News,; Reuter  -  370 words
      • 221 9 Purchases would make Hughes global force in broadcasting Reuter [NEW YORK] Hughes Electronic Corp, a unit of General Motors Corp, is pursuing two satellite deals with a potential combined price tag of nearly US$4 billion (555.6 billion), The Wall Street Journal
        Reuter  -  221 words
      • 366 9 Reuter [WASHINGTON] Dow Corning Corp on Thursday opened its bankruptcy courtapproved programme to notify people who may have a claim against it because of their use of the company's breast implants. Dow Corning had no estimate how many people
        Reuter  -  366 words
      • COMPANY Briefs
        • 42 9 Reuter [TAIPEI] Taiwan's China Steel said yesterday it had posted a pre-tax profit of NT$2.B7 billion (Ssl47 million) between July and August, down 18 per cent from NT$3.5 billion in the corresponding period last year. Reuter
          Reuter  -  42 words
        • 39 9 AFX-Asia [HONGKONG] Lai Sun Development Co Ltd expects property sales to contribute more than HK$2 billion (***** million) to its total revenue in the year to July 1997, the Hongkong Standard reported. -AFX-Asia
          AFX-Asia  -  39 words
        • 69 9 Bloomberg Business News [CUPERTINO, California] Apple Computer Inc has lost half its market share among large and medium-sized US businesses in the last year, according to International Data Corp, the Wall Street Journal reported. Apple customers including Ernst Young and Northern Telecom Ltd have decided
          Bloomberg Business News  -  69 words
        • 63 9 Bloomberg Business News [MONTREAL] Seagram Co said earnings rose 7 per cent in an abbreviated quarter as gains from its Tropicana juice brands offset the cost of new theme park rides and music acts. Net income for the two months ended June 30 rose
          Bloomberg Business News  -  63 words
        • 58 9 FT [NEW YORK] On Thursday, Campbell Soup announced a US$l6O million (***** million) restructuring charge as part of a series of measures aimed at repositioning itself as one of the world's fastest-growing food companies. It also announced the acquisition of Erasco, Germany's biggest soup company, for
          FT  -  58 words
        • 53 9 Bloomberg Business News [SEOUL] South Korea's LG Group said it will invest US$2.5 billion (553.5 billion) to build factories, develop natural resources and offer telecommunications services in central Europe and Russia by 2000. The firm unveiled the plan at a meeting of its
          Bloomberg Business News  -  53 words
      • 201 9 Bloomberg Business News [LONDON] Schroders Pic's first-half pre-tax profit rose a greater-than-expected 35.4 per cent, boosted by healthy gains in both its merchant banking and asset management divisions. Britain's largest independent securities company said profit before tax was £115.9 million (*****
        Bloomberg Business News  -  201 words
      • 341 9 FT [VIENNA] Union Bank of Switzerland, after nearly two years of legal disputes with a dissident shareholder group, has finally won court approval to introduce a capital structure which will considerably increase its capital-raising flexibility. The Zurich Commercial Court on Thursday
        FT  -  341 words
    • FINANCE & COMMODITIES
      • 456 10  -  $50m initial payout part of plan to avoid insolvency By I Soh Tiang Keng [SINGAPORE] RMCA Reinsurance, which three years ago announced a major plan to avert insolvency, has declared an initial payment of 50 cents to the dollar to its creditors. Based
        456 words
      • 347 10 FT [LONDON] Deutsche Bank said on Thursday that it was considering moving responsibility for its UK unit trust business from London to Frankfurt after the complete failure of management controls within its UK asset management business. The bank admitted senior managers
        FT  -  347 words
      • 362 10 USS/marfc: The US$ fell once again into lacklustre trading after rising amid slight activity the previous Friday. The unit traded between 1.4786 and 1.4913 for the first four days of this week. The outlook remains mixed, requiring a breach of either 1.4645 or 1.4965 for some
        Source: DBS Bank  -  362 words
      • 262 10 [SINGAPORE] It was a night for lauding Singapore's top fund managers, and it ended on a light-hearted and kindhearted note with a charity auction and collection that saw nearly $32,000 being raised for the Community Chest. But the inaugural Fund of the Year awards presentation
        CHRIS LOH  -  262 words
      • 205 10 [SINGAPORE] The PhUippine National Bank (PNB) is tapping US$lOO million ($l4l million) from the offshore markets of Singapore, Asia and Europe through a floating rate certificate of deposit (FRCD). The syndication deal, arranged and fully underwritten by DBS Bank, will be signed here on Monday.
        205 words
      • 228 10 SIMKX Report Reuter [SINGAPORE] Simex interest rate futures yesterday finished on the higher end of narrow trading bands ahead of last night's release of the US employment report for August. A trader said the market's recent susceptibility to rate hike concerns indicated that Eurodollar
        Reuter  -  228 words
      • 165 10 Reuter AFP London THE dollar's meek performance in a week of potentially bullish news will prevent it from piercing the top of its seven-week old trading range near 1.50 marks in the nearterm, analysts said. The non-farm payroll headline figure, showing a rise of 250,000, was a touch
        Reuter; AFP  -  165 words
      • 320 10 ENERGY REPORT Reuter [LONDON] Opec will benefit from higher than expected demand for its oil for the rest of this year and well into 1997 as supplies from rival sources fail to match earlier forecasts, the International Energy Agency (lEA) said yesterday. The
        Reuter  -  320 words
      • Article, Illustration
        1391 10 nrraEBAMK CROSS RATES Sep* A$ C$ ft* ECU nr 9m m MUNM Yw Mm US W»P*tl N> S$ 8w3 Mr MT> fcfct Pm* USS Australia 1.091 1178 0.425 4.036 1179 6.K3 ***** 8J43 0.867 1507 198$ 1145 213S4 ***** 1*7 3JH 0.951 ***** 20.125 0.507 0.794 Canada 0.9T7 6.064 1573
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    • 1658 11 MOOM FUTURB8 sep6 RUHCR (Moras dMk*M*UQpa) RSS 1 cwitiAt) Ctosa VoiWM Opon low Srtt (towws) tatarnt Oct 185.50 1275 Nov 187.75 186.75 187.00 200 2450 0** 188.75 188.75 ***** 225 2750 Jao/Mir 97 ***** ***** 191.50 525 7800 97 192.00 4950 JutfSap 97 192.00 RSS 3 CONTRACT (US
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    • 2395 11 LOWDOW Mistrlils h>> Haa *h A. A. Corp Mr 561/4 ABPortl 297 *1 AMey Notional 590 -3.400 ABM Lyons 477 5.600 Amec 98 unch Argyll 346 Asda Croup 107.600 1.200 BAT md 437 unch BICC 332.400 -1.600 BOC Croup 856 -16 BR Petroleum 629.400 3.400 BTR 262
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    • 1656 11 Reuter Nikkei 225 -227.21 STOCKS tumbled by the end of the session following a sharp slide on Wall Street overnight. Brokers said the market was bracing for the US August employment report to be released later yesterday. The key 225-share Nikkei Average closed down 227.29 points at 20,152.53. Its
      Reuter  -  1,656 words
    • Article, Illustration
      1671 12 Reuter Q Hang Seng -1432 STOCKS slipped, with investors cautiously awaiting key US August jobs data due last night for further clues on the direction of interest rates. The Hang Seng Index lost 14.92 points at 11,025.59. Turnover was HK53.35 billion. "The fact is interest rates are rearing their
      Reuter  -  1,671 words
    • Article, Illustration
      643 12 Reuter n Shanghai B Share Indei -0U)1 SHANGHAI B shares closed slightly down in slow trading on uncertainty over the market's direction. The index edged down 0.01 to 51.18 on volume of 7.7 million shares worth US$3.6 million. Investors were cautious about building positions due to rumours that the
      Reuter; Source: Credit Lyonnsis Securities(Asia) Ltd  -  643 words
    • 400 12 AFP Qwrinte -14.73 SHARE prices finished 0.2 per cent lower yesterday amid light profit-taking. "Some investors took a negative cue from weakening electrical issues and took profit in a directionless market," said a trader. The TSE Weighted Price Index declined 14.73 points to 6,290.23. Turnover was 944 million shares
      AFP  -  400 words
    • Article, Illustration
      753 12 AFP |H|oimDofflte Index ♦0.72 SHARE prices closed slightly higher yesterday on investor speculation despite caution over US interest rates, brokers said. "The market's weakness was mostly due to weak regional sentiment," said a dealer, adding that "people are worried that non-farm payroll figures out tonight will give indications of
      AFP  -  753 words
    • Article, Illustration
      829 12 AFP Q SET Index -15J7 STOCKS fell on rumours of a baht devaluation and forced selling of shares bought on margin loans. "There were two main factors today the issue of finance company margin loans and the baht devaluation rumours, which we think are unfounded," said a trader. The
      AFP  -  829 words
    • 340 12 AFP Q Manila -JL4O SHARE prices fell yesterday amid fears that foreign investors may desert the market. The PSE Composite Index fell 21.40 points to 3,170.16. Turnover was 6.5 billion shares worth 1.7 billion pesos. The Manila Electric Co's A shares fell one peso to 105 while its B
      AFP  -  340 words
    • 399 12 AFP nOflnpoßtahig -101 SHARE prices closed lower yesterday as investors cashed in profit. The Composite Price Index fell 3.09 points to 784.05. Turnover was 22.6 million shares worth 415.8 billion won. Risers beat falls 446 to 374 with 141 shares unchanged. The index fell below 780 points in the
      AFP  -  399 words
    • 616 12 AFP PAflOrtoariM -20.4 STOCKS eased as nervousness set in ahead of the release of US jobs data which brokers said could increase pressure for an official rate rise. The All Ordinaries Index fell 20.4 points to 2,237.0. Turnover was 299.1 million shares worth A 5605.8 million. Among blue chips,
      AFP  -  616 words
    • 271 12 Bloomberg Business News n Wellington -4JI SHARES closed mixed yesterday. The Top 40-share Index fell 4.11 points to 2,231.82, with risers beating falls by a 17 to 13 margin. Turnover was NZ$Bl.B million. Bloomberg COOtl AN2 Bonkinq 7.3* unch 105 Advonta?*! HMgs 1.40 unci) 6500 Air N«w ZoMand (A)
      Bloomberg Business News  -  271 words
    • KUALA LUMPUR STOCK MARKET
      • 8098 13 AFX-Asia CI Composite Index -2J6 SHARE prices closed slightly lower yesterday, with most investors sidelined ahead of last night's release of US August employment figures. The Second Board Index broke through the 550-point psychological level on buying led by retail investors. The KLSE Composite Index
        AFX-Asia  -  8,098 words
    • WARRANTS & OPTIONS
      • 3346 14  -  WARRANT WATCH By\ Paul Leo UNITED Industrial Corporation 1998 warrants appear to have good upside potential given that at yesterday's closing of 43.5 cents, its price is near the year's low of 41.5 cents and is 40 per cent below the year's high of 73
        3,346 words
    • 1968 14 Or Or 109* Last Vd Day Laat Qwata Hi Ob W M hc« W t— mm cii>m hn roooi HH» l— —yar w» cw p/t »«o 625 360 mi 9000 AJSBSOc 366 -4 **********4360 X0 4.9 0l4 76J J7S.4 119 04 mi 9001 AMOOSOc 102 cd -2 440
      1,968 words
    • STOCK EXCHANGE OF SINGAPORE
      • 1079 15 TUMOVU (*000) VALUC COOO) r>j em T—« >W CN> Trtal mdu»trW 20.337 6,783 27,111 WJ6I 17.448 85.847 riMnc* 1229 2,414 4.843 23.888 5,7*0 29,878 1,142 144 U84 2,945 240 3,t«5 Propvtm 2,718 15JM 18,082 18,085 20.100 38, MS Plantation 758 758 1,748 1.748 MM* 284 284 713 713 M.W 3.094
        1,079 words
      • Article, Illustration
        63 16  -  Paul Leo SUPER COFFEEMIX jumped 8.5 cents to 89.5 cents yesterday with 5.37 million shares traded nearly nine times the today average of 61X300 units. Upski is limited as daily Moving Average Convergence Divergence Indicator is over extended, daily RSI is in overbought territory and Average Directional Movement
        63 words
      • 933 16  -  Speculative issues hog trading limelight here, while blue chips drag key ST Industrials Index down STOCK MARKET COMMENTARY By Larry Wee [SINGAPORE] The Straits Times Industrials Index yesterday lost part of Thursday's gains, as the mood in American markets once again turned, ahead
        933 words
      • ON THE GRAPEVINE
        • 150 16 AT THURSDAY'S Fund of the Year award, United Overseas Bank (UOB)'s competitors in the fund management business were overheard telling reporters that it was time to sell UOB funds because they have peaked. UOB swept five erf seven awards at the inaugural event A highlight
          150 words
        • 100 16 WE HAVE all heard of the five Cs, but these have now been upgraded, to the five CCs or C squared—Comfy Career, Chauffeutfed Car, Country Clubs, Chic Condo and Credit Card, said Prof Lim Lan Yuan, head of the school of building estate management at
          100 words
        • 118 16 HERE'S why Dow Corning of the US went bust According to a statement yesterday, it said women with breast implants make up a large portion of a class of known potential claimants against the company. The 400,000 women who registered for a settlement far exceeded the
          118 words
        • 125 16 THAI opposition MPs have a soft heart, going by a report in Bangkok's Nation newspaper. They will try not to cause too much distress to the prime minister's daughter during an upcoming censure debate, for fear that the lady MP might burst into tears, the
          125 words
    • 4524 15 Cr Of M Wt l«W Last V* Day Last Ouota Otv Oiv YM Nat Caa Ayg Law StNo Company Sa>a COOP) H4gh Law Buyar Sallar C/vr P/I )n«Mca i "'HUIflftLl t* 5146 ASENTS10 200 US- **214 165 1258 AearSOc US177 -3 10 177 177 176 179 5.0N 7.5
      4,524 words
    • 834 15 V«* LaatOuata Mr H« W M Cm >■» l— ttm citm »a*a rooot >—i l— m*m u—r cv w $3 m5 289 135 2000 AOftHMgSc 163 -J 33 169 163 164 167 33 143 0.1 103.1 73* 169 90 66 AS Auto 10c 69 *03 26 69 66.3 69
      834 words
  • Page 7 Advertisements
    • 62 7 Kt I igBSR Recession. Bumble j m P rental I I*«SSJ Properties j^^ g COuW <*'<* 1 How to wealth H Sek **i Pnacarao Cn oneenng bogUwic your 3CrafL EEaEaea Available at Newsstands NTUC Supermarkets Caltex Published by Times Periodicals, member of STOP PRESS kiosks 7 Eleven Mobil c Times
      62 words


  • Page 9 Advertisements
    • 1104 9 PCI LIMITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Board of Directors is pleased to announce the audited results of the company and the group for the year ended 30 June 1996 THE GROUP THE COMPANY 1996 1995 1996 1995 ss'ooo 55*005 §S'OM —swm 1. (a) TURNOVER 127,326 245,189
      1,104 words



  • Page 12 Advertisements
    • 86 12 B With Singapore s buoyant exist many investment opportunities. Geoff 740 2112 T|| ■T I II I John Lee 740 2057 1111 I I I I I 'V|^S^Eju' l II I publish a special feature with the theme Joe Heng-740 2481 II 111 imi our topics I I jaaKlp on
      86 words

  • Page 13 Advertisements
    • 66 13 I Company anniversaries. Official openings. Corporate achievements. Topping-up ceremonies. And other special events. They are a cause for celebration. Use them to increase your company profile by taking out a Special Feature in our group of newspapers. Talk to us! We'll be pleased to be your marketing partner. Joe Heng
      66 words

  • Page 14 Advertisements
    • 44 14 Kit, When the Market qetft Going, Ih» Savvy 90 4URHN* Keep track of the latest Singapore and Kuala Lumpur stock prices on BT Stockwatch http://www.asial.com.sg/btstocks on the Internet I MJM tfJl IH f*KMTPC 1 ___jrOURONE-STOP SITE FOR SINGAPORE AND ASIAN BUSINESS NEWS AND INFORMATION
      44 words

  • Page 15 Advertisements
    • 16 15 I I I y)j ROLEX tA, I I AT ROY EE ASTERN WATCH £7 I I
      16 words
    • 128 15 To: SPH AudioTcx Department Singapore Press Holdings Ltd 82, Genting Lane Singapore *****7 Tel: 740-1493 Fax 740-2216 I wish to subscribe to the Quick Stock's Portfolio Manager as follows (please tick the appropriate box; prices include GST). Subscription Period Ql2 months _J 6 months M 3 months at 5560.00 at
      128 words

  • Page 16 Advertisements
    • 488 16 BUSINESS Notices ID \I) I KII s i: I I I<> I I-I K I I ISOII 7 4 I IS S 3 SHOES 88 PTE LTD (In Voluntary Liquidation) (Members' Voluntary Wlndng up) NOTICE IS HEREBY GIVEN THAT pursuant to Section 308 of tie Competes Act (Cap. 50) that
      488 words
    • 607 16 IN THE MATTER OP THE COMPANIES ACT, (CHAPTER M) PURSUANT TO SECTION 299(1 Mb) VENTURE INVESTMENT (SINGAPORE) LIMITED (la Members' Voluntary Liquidation) At an Extraordinary General Meeting of Venture Investment (Singapore) Limited duly convened and held at 331 North Bridge Road #05-04/06, Odeon Towers. Singapore *****0 on 2 September 1996
      607 words
    • 231 16 IN THE MATTER Of THE COMPANIES ACT, CAP 99 AND TATI INVESTMENTS PTE LTD (Uemben' Voluntary Winding Up) At die Extraordinary General Meeting of the above Company duly convened and held on 27 August 1996 at 6 Jalan Am pas #03-01 Singapore *****7 the following resolution was duly passed: THAT
      231 words
    • 435 16 IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF CHEE TECK TIMBER PTE LTD MEMBERS'VOLUNTARY WINDING-UP At an Extraordinary General Meeting of Chee Teck Timber Pte Ltd convened and held at 7500 A Beach Rd *16-322 The Plaza Singapore *****1 on 2nd September 1996, the
      435 words
    • 443 16 NOTICf OF HNAI MOTWQ THE COMMMEB ACT CAP. M JAMJAM FROZEN FOOD PTC LTD (In Voluntary Liquidator!) NOTICE HEREBY OVEN anuant to Section 308 d tie Comparwj fe Cap. 90. M a M meetng of IS mentis of tie txMimt corpam «a b* MB 101 upper Crcsi Swet <05-14 Putt*
      443 words
    • 79 16 Home Decor For people who love their homes TT --V-1 "W~ Enhance (Corporate inwp I Company anniversaries. Official openings. Corporate achievements. Topping-up ceremonies. And other special events. They are a cause for celebration. Use them to increase your company profile by taking out a Special Feature in our group of
      79 words

  • EXECUTIVE Lifestyle
    • 1209 17  -  The Art Galleries Association of Singapore is helping to provide a recognisable starting point for first-time buyers or just anyone interested in learning about local art win mumiiob reports BEN MUNROE SINGAPORE is poised to become an arts hub for South-east Asia, according to some critics.
      1,209 words
    • STRAWS In The Wind
      • 47 17 SOME people really have the right name for their jobs. For example, the leader of Zimbabwe's public service union which is currently fighting for a pay increase must have been voted in for more than just his capability his name is Givemore Masongorera.
        47 words
      • 74 17 YOU CAN blame statutory boards for their red tape, but you certainly can't fault them in the courtesy department. One reporter found this thoughtful message from the Ministry of National Development's PR department on her answering machine: "Thank you for confirming your attendance at the press
        74 words
      • 119 17 EVERYBODY, it would seem, keeps wanting to imitate the movie Mission Impossible at every opportunity. Take the marketing manager of a local prop- erty company whose answering machine would begin with a burst of theme music, then the words, "Hi, this is Dave, I'm out
        119 words
    • COVER STORY
      • Article, Illustration
        972 18  -  The Gallery Guide and Map, produced by the Art Galleries Association (Singapore), provides a list of 11 galleries specialising in a multitude of styles and art forms. If you're not sure which style you think you are interested in, just ask. You can expect more help than
        972 words
    • DESIGN
      • 1274 19  -  Ernesto Bedmar tells CMtnoiß nu how he incorporates traditional Balinese and Chinese elements into modern buildings in Singapore. And why he doesn't do Corinthian columns CORINNE KERK POR ever so long, Ernesto Bedmar's work has been conveniently labelled as "Balinese". Not that the designer of
        CHRIS LOH  -  1,274 words
      • 326 20  -  NIGHTSPOT Unwind to the mode of Chroma Zone and Harry's Dixieland Band By A Surendren SOMEONE once told me that the only way to enjoy visiting a good pub is not to go there on a Friday night. If you cannot enjoy yourself then, it means
        ARTHUR LEE  -  326 words
      • 609 20  -  CINEMA Chain Reaction has the requisite high-speed chases, gigantic explosions and Keann Reeves, but falls short of being a runaway success Byi Corinne Kerk ON A superficial level, Chain Reaction looks like it's got all the ingredients to make it a box office success.
        609 words
      • 736 20  -  US OPEN Winner threw np between serves and still won his quarter-final match By] Bill Dwyre [NEW YORK] Rocky Balboa met Pete Sampras on Thursday. Or maybe it was the other way around. Whether you were watching on television, or sitting
        AFP  -  736 words
      • 500 21  -  THEATRE Only When I Laugh, which unfolds within the confines of a surgical ward, promises to leave yon in stitches By\ Denesh Divyanathan SCENE: Two patients in a hospital ward. One is a hypochondriac, who competes with a new patient for the affections
        500 words
      • Article, Illustration
        395 21  -  Compiled by Holly Harrison Bnnmo> Eye To Art Eye surgeon and painter Arthur Lim's exhibit is reprised in another venue, with limited edition prints of eight works on sale for $1,000 each. The paintings will subsequently be shown in Paris and London, but Orchard Blvd is much closer.
        395 words
    • EPICURE
      • 720 22  -  In search of bush tucker? If s closer to home than you think, jaimb hb finds it at Siggi's in Sentosa JAIME EE Sentosa isn't anywhere near Australia, but if you're in the mood for some bush tucker and don't want to sit through a seven-hour flight to
        720 words
      • 800 22  -  RESTAURANTS This cuisine is fall of tasty surprises, especially if yon have it at Nam Phou in Vientiane, or Phon Vao Hotel in Lnang Prabang By. Harish Mehta THERE is a restaurant in Laos where the food could take 12 hours to reach your table. Don't let that
        HARISH MEHTA  -  800 words
      • 767 22  -  WINE CONNOISSEUR Is the 1983 vintage the best-value Bordeaux today? By] N K Yong THE 1983 Bordeaux was initially reported to be a great success not quite as good as, but certainly not far behind the *****. There was consequently great interest in the en primeur
        767 words
      • 544 22  -  SUPERMARKETS Looking for hahra, mozzarella balls and organic onions? YouH find them all at Jason's By, Jaime Ee I CAN now understand why organic produce hasn't quite taken off in Singapore they look like the rejects that you see in Cold Storage's cheap, special offer bins,
        544 words
    • Article, Illustration
      1148 23 Baha. Cartoon film based on the true account of a half-breed sled dog who saves a town with his courage. Lido: 11.15; 1.30pm. Yishun: 10; 2.15; 4. Bishan: 10.10; 2.30; 4.20. Tiong Bahru: 10.10; 2.35; 4.25. Boon Lay: 11.30; 1.20; 515 Century: 11; 2.30pm. Jurong: 12.45; 5.15; 7.45. Tampihes:
      1,148 words
    • TRAVEL
      • 900 24  -  Niagara has been drawing people in droves ever since that first tightrope walk across the falls in the last century, mask obaham joins the crowd MARK GRAHAM MOST are content to watch and wonder, as the foaming water gushes and roars over Niagara Falls. Others feel
        PHOTOS BY MARK GRAHAM FOR BT  -  900 words
  • Page 17 Advertisements
    • 5 17 Design Ernesto Bedmar EL 3
      5 words
    • 146 17 fik Travel Braving ™2K[[^^C\|6Wyg| the wKK^^^nSSSi waters of Ej Niagara EL 8 Five art galleries, EL 2 V- ALASKAN KINGS TAKE OVER THE REGENT. Book a table at Capers from Sept. 11th-17th and you'll dine amongst royalty. Alaskan red king salmon will rule the menu. The crowned heads of U.S.
      146 words



  • Page 20 Advertisements
    • 179 20 i fitnd jblic Special Feature to mark the fTHSithout doubt, the Age is one of the most significant f *****28 The Business Times Bringing with it a whole new set w J* SUBRAMANIAM of challenges for all players in *****43 the information business, including The Business Times. J NAIINTNATDII Our
      179 words

  • Page 21 Advertisements
    • 808 21 jLTSINGTAO BEER Where to wine, dine and entertain gg»tOne of the most appreciated beers In the world ClllCl Uliil****** Have a Bubbly Sunday Brunch with your Family Only /-N s J $42.00* per adult; $19.00' per child J From 11am to 2.30pm vr For reservations, I Yv® ca!l 731-7934. 7
      808 words
    • 187 21 A SHELLFISH UJNCH BUFFET AT TOP OF THEM /V /S# REVOLVING RESTAURANT s@B hr r«—rvaHon* ptwcai MI 6258/9 ifi»h iin i 333 Orchard Road. Singapore *****7. Tel: *****11 Dine for Free" Lucky Draw 1 Sep 31 Dec 96 Each week, we will be giving a full refund* I for the
      187 words


  • Page 23 Miscellaneous
    • 2056 23 TODAY'S TV lllUßiifl I dustry Technology Ad- ILOO AM TV Innovation. jJ vancement Programme Song and E v ikfli i__ this 1990 film gives an Diving: Men's Plat- 12J8 PM Koleksi Gemilang SO QclllCG exciting (fictional) account form/Ladies Springboard Opah. Of the American B-17 (Lastep). LOO Prisma. MtGeneration Mv bomber's
      2,056 words

  • Page 24 Advertisements
    • 41 24 KjMESEEO® I mmmm K London* hot 1 W i, nma ■hnna v-flj DOHW SnOpS K^/\J GET IT NOW! Times the Bookshops NTUC Supermarkets Kinokuniya 7-Eleven MPH SW STOP PRESS kiosks Cold Storage Shell Esso Caltex Mobil SPC BP Singapore mss Holdings
      41 words