The Business Times, 3 January 1987

Total Pages: 16
1 16 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 112/12/86 SATURDAY, JANUARY 3, 1987 75 CENTS
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  • 224 1 STOCK MARKET THE SINGAPORE stock markst had a quiet start in the New Year, with share prices easing across the board. Lack of fresh leads led to disinterested trading, and a handful of stocks that benefited from window dressing slumped quickly after trading began. The Straits Times
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  • 362 1 Government not easing SES listing rules Hu FINANCE Minister Dr Richard Hu has ruled out the possibility of easing the rules for companies seeking a listing on the Stock Exchange of Singapore. But he said the Government is studying the question of easing the prospectus requirements for bond issues in
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  • 520 1  -  Qualified Singaporeans in short supply By LIM SOON NEO HIGH FLIERS are hard to come by. Not enough Singaporeans make the grade, so Singapore Airlines is launching a worldwide search for these people: captains, co-pilots and flight engineers. The national carrier will scout
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  • 263 1 MR HSU Tse-Kwang, Commissioner of Inland Revenue, has been appointed chairman of Sembawang Shipyard Ltd. He replaces Mr Lee Ek Tieng who is succeeding Mr JYM Pillay as chairman of Temasek Holdings. The resignation of Mr Lee, along with Mr Hsu's appointment, were
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  • 91 1 Reuter THIS YEAR may see coordinated international intervention in foreign exchange marketa to achieve currency stability, but Japan is not planning to lower its discount rate again, Bank ot Japan governor Satoshi Sumita told Kyodo news service in an interview reported yesterday. "It is important this
    Reuter  -  91 words
  • 264 1  -  By TSANG SAU YIN, Lifestyle Editor EXECUTIVE LIFESTYLE, a special weekend supplement covering everything the executive or professional needs and wants to know about the entertainment scene, culture, sports and persons! investment, makes its debut in BT today. The main objective of the five-page
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  • Page 1 Advertisements
    • 298 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM More literal government must wait, Back Paga MONEY EXCHANGES RAW MATERIALS AIRCRAFT SNARE MFORMATKM CROSSWORDS TV S RADIO OUR VIEW IF MORNINGS ARE TOUGH, weekends a drag and looking Into the mirror a nightmare relax. BT has pot together a five-page weekend supplement to
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    • 170 1 Top 100 IT'S THAT TIME of the year when we take a look at the ranking of the top 100 companies listed on the Stock Exchange of Singapore. The first listing based on market capitalisation will appear on Jan 5. This will be followed by another based on shareholders' funds,
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    • 422 1 r a ikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM BMW is aiming for the big-car market Lifestyle 1 Sir Hamilton Whyte writes in defence of diplomacy Lifestyle 1 m m m i 1 as 5» fil Why carrot-eaters can say: 'What's up, doc?' Where will the US dollar settle? Lifestyle 4
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  • HOME NEWS
    • 739 2  -  P)TNE YEAR IN \EVIEIV Transport and Communications J By LIM SOON NEO TRANSPORT and communications was a growth sector in 1986, and the air cargo industry was one of its star performers. It breezed through 1986 with flying colours, ending the year with
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    • 271 2 A TWO-MONTH survey to identify the needs and wants of flat residents will be carried out by the Housing and Development Board early this month. Findings of the survey, covering 9,000 households (or about 1.7 per cent of the number of occupied HDB flats),
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    • 88 2 THE FLYOVERS at the junctions of Bukit Timah Road/Farrer Road and Dunearn Road/Adam Road will be closed to traffic today and from Jan 7 to Jan 10 between 1 am and 6 am. The closure is to enable the Public Works Department to carry out maintenance
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    • 502 2  -  By GOH YEE LING DOCTOR, POET and entrepreneur Dr Goh Poh Seng has been sued for failing to pay back a "friendly loan" of half a million dollars. The money came from Mr Ong Beng Seng, the managing director of
      502 words
    • 282 2 NEXT WEEK will see the start of four courses organised by the National University of Singapore's Department of Extramural Studies The first of these is a 12-lec-ture course on Strategies for Investing in the Stock Market. It will be held at the Mandarin Hotel starting
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    • 422 2  -  By CHUANG PECK MING EMPORIUM HOLDINGS, now under receivership, has greeted the new year with a "closing down" sale at its Klasse store in Centrepoint. Sources say more unprofitable outlets will be shut down by the retail giant in an effort to "rationalise further" its
      422 words
    • 323 2 FOR BEING "most whimsical", Singapore yesterday won the Isabella Coleman Trophy at the Pasadena Rose Parsde. The trophy was won from an impressive field of 56 other entries. This was the fifth consecutive year that Singapore had participated and won s prize at the
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    • 831 2 AT CONVENTIONAL WHARVES VmmI Berth Arrival Departure KEPPEL WHARVES Alt Endeavour <35 along s»de 03.01/0700 Alwasitti KI7 alongside 0301/2300 Auby <25E olongside 03.01/0600 Ocean Prima K36 alongside 04.01/2300 Rajah Brooke K25W alongside 03.01/2300 Waheng <33 alongside 03.01/1500 Wah Foi <19 alongside 05.01/0600 Taisho Maru <20 alongside 05.01/0600
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  • ASIA-PACIFIC
    • 608 3 Reuter HONGKONG has overcome the initial shock of an uncertain political future but faces new and critical tests in the ten and a half years before the transfer of power to China in 1997, according to businessmen and economists. They said increasing debate
      Reuter  -  608 words
    • 304 3 Reuter AUSTRALIA faces a sombre economic outlook this year with rising unemployment and continuing trade and foreign debt problems, according to a survey of economic experts and businessmen. The survey, published annually by the Age newspaper, contrasts sharply with the government
      Reuter  -  304 words
    • 791 3 ARRIVALS Operator Sorvico Local From numb*r tWn* KAl KE624 0850 KU MAS MH8II 0910 pe* MAS MH671 0920 KUL AC AC858 0950 YYZ/lHt/IOM CPA CX710 1015 CGK MA •1421 1030 IWN GU GA960 1100 CGK SU SQ105 1105 KUL SiA SQ201 1145 CGK THAI TG403 1155 BKK
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    • 95 3 Reuter THE CABINET of the Pakistani province of Sind resigned on Thursday, just over two weeks after 186 people were killed in ethnic riots in Karachi, its capital. The official news agency APP said the ministers had offered their resignations to allow Sind Chief Minister Syed Ghous
      Reuter  -  95 words
    • 306 3 Reuter THE CHINESE MEDIA returned to the offensive yesterday saying that a small group of troublemakers was inciting students to mount illegal protests and that no challenge to the Communist Party would be tolerated. About 1,000 students demonstrated for democracy and freedom
      Reuter  -  306 words
    • 133 3 AP ISLAMIC fundamentalists in Egypt have demanded the dismissal of the interior minister, claiming his security measures were reminiscent of conditions that lead to the assassination of President Anwar Sadat. Several fundamentalist lawyers, a religious sheikh and relatives of one of Sadat's assassins accused
      AP  -  133 words
    • 72 3 Reuter THE Soviet-backed Afghan government has announced a ceasefire beginning on Jan 15 in over seven years of war with Muslim guerillas but the offer was immediately rejected by the main Pa-kistan-baaed guerilla alliance. The ceasefire was announced in a speech by Afghan leader Najibullah to
      Reuter  -  72 words
  • Page 3 Advertisements
    • 54 3 m /|T"*\ AT T The business person's choice, I) /I |J every Tuesday, Thursday, Saturday I\/ I I |/-\Y and Sunday. Leaving Changi Airport I JL V■ -J* at 22:05 hours and arriving at Bombay at 00:30 hours. Call Air Canada at *****55 or your Travel Agent. Effective thru 31
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    • 676 3 NOTICES IN THE MATTER OF THE COMPANIES ACT (CHAPTER 185) AND IN THE MATTER OF TAN CHOON HOE PTE. LTD. (Id Member*' Voluntary Wlnding-Up) At an Extraordinary General Meeting of the abovenamed company duly convened and held at 101-A Upper Cross Street, #11-22, People's Park Centre. Singapore 0106 on Tueeday,
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    • 730 3 IN THE MATTER OF THE COMPANIES ACT, CAP 188 OF THE REVISED EDITION »im! IN THE MATTER OF MEI PTE. LTD. (In Members' Voluntary Winding Up) At an Extra-ordinary General Meeting of the members of Mel Pte. Ltd., duly convened and held at 5001 Beach Road. #07-24 Oolden Mile Complex,
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    • 691 3 IN THE MATTER OF THE COMPANIES ACT, CAP. 185 AND IN THE MATTER OP WOO INVESTMENTS PTE. LTD. (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of the members of WOO INVESTMENTS PTE. LTD.. duly convened and held at 50 Chin Swee Road #10-01 Thong Chal Building Singapore 0316
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    • 751 3 OF THE REVISED EDITION and f V ii > ll] MENG 4 LING PTE. LTD (In Members' Voluntary Winding Up) At an Extra-ordinary General Meeting of the members of Meng Ling Pte. Ltd. duly convened and held at 5001 Beach Road. #07-24 Golden Mile Complex, Singapore 0718, on Tuesday 30th
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  • REST OF THE WORLD
    • 697 4 Drastic cuts in domestic programmes proposed PRESIDENT RONALD REAGAN s new budget proposes US$l.B trillion in military spending in the next five years but would slash federal farm aid by more than half and sharply curtail the growth of many other domestic programmes over the
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    • 376 4 AP THE PAST YEAR saw unprecedented attention focused on Africa's economic problems, but promised international help had yet to arrive, the UN Economic Commission for Africa said. Africa in 1987 still will need massive aid because of trade imbalances, low oil prices, the hangover
      AP  -  376 words
    • 194 4 UPI PRESIDENT Ibrahim Babangida lifted the economic state of emergency in Nigeria in his budget speech delivered in a nationwide broadcast on Thursday. Mr Babangida also pledged efforts to generate employment, boost industrial production and strive towards self-sufficiency in food production. Capital spending this year
      UPI  -  194 words
    • 357 4 NYT FOR THE SECOND QUARTER in a row, the US Commerce Department has lowered the minimum prices at which Japanese manufacturers can sell their computer chips in the US. Analysts and industry sources said yesterday that the reductions. while not as sharp as
      NYT  -  357 words
    • 517 4 AFP WEST GERMAN CHANCELLOR Helmut Kohl, preparing for legislative elections on Jan 25, can claim to have strengthened the economy with a dose of freemarket policy, although unemployment remains a problem and some clouds hang over the outlook in 1987. But in
      AFP  -  517 words
  • RAW MATERIALS
    • 1111 4 Prices of natural rubber on the uptrend Rthe year in EVIEiy Malaysian rubber Bernama WITH THE current uptrend in natural rubber prices, Malaysia is well on the way to earn the targeted Ms 3 billion from rubber exports last year. During the first 11
      Bernama  -  1,111 words
    • 406 4 OANA-PNA THE YEAR 1966 waa another bad year for tha Philippines' sugar industry which economic planners and other induatry leaders would like to forget. For the total collapse of the sugar industry, once the strongest pillar of the economy, "ia just a breath away",
      OANA-PNA  -  406 words
    • 109 4 SINGAPORE The market was closed yesterday. MALAYSIA The market closed early yesterday due to lack of interest after the closure of most overseas markets. a spokesman for the Kuala Lumpur Commodity Exchange said. A spokesman for the Malaysian Rubber Exchange and Licensing Authority said that trading in physical rubber
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    • 186 4 Reuter COCOA importing nations have been given more time to sign a world accord aimed at stabilising cocoa prices and guaranteeing a steadier flow of foreign exchange for Third World sellers of the commodity. A deadline for formally backing the 1986 International Cocoa Agreement was
      Reuter  -  186 words
    • 200 4 MALAYSIAN crude palm oil prices recovered from early lows on light covering and some speculative buying interest to close steady yesterday, but trading was thin as most operators were still away for the New Year holidays. The market had eased initially in sympathy with lower palm oil futures
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    • 67 4 Bangkok Broken Rice A-l Super 118 115 (USS/tome, FOB) A-l Special White Rice C-1 Special imq C-l Ord unq 100% 1 it dots 245 Loonzain Rice 100% 2nd don 210 100% 3rd don 205 100% 1*» grade unq 5% 195 190 100% 2nd grade 205 10% 100% 3rd grade
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    • 74 4 INCREABEO overseas support pushed up the price of tin on Mm Kuala Lumpur Hn market by 19 cents to MH7.24 per kilo In fairly active trading yeetorday. The continued upeurge on Wedneeday*s European spot market sparked off more buying demand here, largely from Europe. There was little il
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    • 140 4 Chinese Produce Exchange SiMtfi noon cioiiofl prfti Jon 2 (SS/100 kg). Ctl Oft Coconut oil Bufc FOB 66.00 OW drum FOB 7600 New drum FOB 86.00 Copra Mixed (too**) 33 buyar* Pepper Muntok White FOB NIW 1415.00 Sarawak WNtt FOB foq NtW 1400.00 Sarawak special block FOB NIW
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  • Page 4 Miscellaneous

  • BANKING AND FINANCE
    • 185 5 AFP ARGENTINE OFFICIALS went to Washington on Thursday to seek US$l.2 billion in stand-by credit from the International Monetary Fund (IMF) for servicing Argentina's foreign debt of US$5l billion, the government announced. The delegation is also asking for an additional US$35O million line of credit to
      AFP  -  185 words
    • 69 5 Reuter BANGLADESH is offering shares of two more state-owned banks on the stock exchange. Finance Ministry officials said 49 per cent of the shares of Bangladesh Shilpa Bank and Bangladesh Shilpa Rin Sangstha are available. The government will keep the remaining 51 per cent. The
      Reuter  -  69 words
    • 600 5 Warsaw unable to meet 1987 interest payments Reuter POLAND will be unable to meet interest repayments to western creditors this year and its hard currency debt is expected to reach more than US$35 billion, according to official statistics published on Wednesday. An
      Reuter  -  600 words
    • 548 5 MBT KOMUDA, or Koperasi Pembangunan Ekonomi Pemuda Malaysia, has come in for some attention over the past week as two rival groups lobby for the privilege of representing the depositors. This is not surprising in view of its size. After MCA-backed Koperatif Serbaguna
      MBT  -  548 words
    • 210 5 Reuter MALAYSIAN POLICE are seeking the aid of more than 300 people to help them investigate alleged fraud in 24 suspended Malaysian deposit-taking cooperatives. The deputy director of the Criminal Investigation Department, Sarjit Singh Gill, said yesterday that most of the people
      Reuter  -  210 words
    • 280 5 Reuter THE NIGERIAN GOVERNMENT estimated that it would receive revenue of 17.86 billion naira, largely from petroleum, this year. It also said it would maintain last year's debt-service ratio of not more than 30 per cent of foreign earnings. The revenue estimates,
      Reuter  -  280 words
  • MONEY AND EXCHANGES
    • 213 5 Interbank rates at 3pm yesterday: N« OOer net pertly cfcenge Local dollars to ono unit of foreign currency: US dollar 2.1695 2.1705 2.8196 -23.06 Storting pound 3.2184 3.2221 7.3469 -56.19 Australian dollar 1.4459 1.4488 3.4286 -57.83 NZ dollar 1.1509 1.1557 3.4286 -66.43 Canadian dollar 1.5721 1.5739 3.4206 -54.04
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    • Article, Illustration
      63 5 THE OVERNIGHT rate on the Singapore interbank market closed at 3 1/4 per cent yesterday. S$ Interbank rates at 7pm yesterday: Offer Bid Overnight 3 1/4 3 1 -momti 3 3/8 3 1/4 2-menrti 3 3/8 3 1/4 3-mortfc 3 3/8 3 1/4 Overnight mod*-. 2 5/8 Indicates
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    • 98 5 RESULTS OF TENDER held yesterday for 91-day bills to be issued from Jan 5 to 9: Offered: $150,000,000 Applied for: $257,000,000 Allotted: $150,000,000 Accepted bide: $99.48 and approximately 3 per cent higher bids in full. Average rate of discount on allotment 2.030 per cent per annum. Discount prices
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    • 209 5 HONGKONG: Gold closed lower yesterday on moderate selling by local investors. Bullion finished at U*****.30/80 an ounce against an initial U*****.25/404.00 and the close on New York of U*****.50/U*****.00. A surge in the local unit to 7.7805/25 to the US dollar in late afternoon trading triggered physical selling
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    • 561 5 SINGAPORE: The US dollar closed firmer against most major currencies in quiet trading yesterday helped by light late short covering. Dealers attributed its rise in the afternoon to news Bank of Japan Governor Satoshi ,Sumita said joint central bank intervention in foreign exchange market is possible in 1987
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    • 228 5 ASIAN DOLLAR deposit rates closed steady at easier opening levels in quiet afternoon trading yesterday. Short-dates weakened between 3/4 and 2-1/8 points at the outset. Thereafter rates remained unchanged with weekend closing at 8-7/8 8-3/4, Monday/Tuesday at 8-1/2 8-3/8 and week-fixed at 7-3/4 7-5/8 per cent. Interbank
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    • 545 5 BA Futures MARCH Eurodollar opened 3 ticks higher at 93.89 following the wider-than-expected US$l9.2 billion US trade deficit. After opening an hour earlier, the market continued to firm to 93.92 in the March contract in a quiet trading session. Liffe saw prices remaining steady with the March contract finally
      BA Futures  -  545 words
  • Page 5 Advertisements
    • 121 5 w 4£l Scatpei...scissors... sutures.- BusinessTmes Whether you're a surgeon, lawyer, contractor or engineer, you need to be kept well informed to maximise returns on your money. In the same way a surgeon needs his tools to operate, he needs Business Times to help him make sound investments. Fluctuations in shares,
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  • FEATURES
    • 527 6 SO HERE WE ARE AGAIN. Another year has flashed by and none of us is getting any younger. We have not been helped by the sober economic climate and try as we may, it is becoming increasingly difficult to get spirits lifted. Mornings are tough. Weekends
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    • 1249 6 American record companies have declared war on parallel imports, making use of a federal law designed to prevent the sale of pirate recordings and cheap foreign copies of American albums, collector packages, and compact discs. As a result, many selections have been removed from
      NYT  -  1,249 words
  • Page 6 Advertisements
  • Page 6 Miscellaneous
    • 826 6 CRYPTIC PUZZLE ACROSS 8 Puts two and two together again and takes oneself off (7) 9 Decided it must be stopped (9) 13 Try when it's Sunday to get into the gallery (5) 14 One adjoining a wood would be best of all (5) 15 Let the tenant stay on
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  • Executive Lifestyle
    • 470 7 1986 HAS NOT quite ended for furniture retailer Homestead. On Jan 1, the company was still advertising its "Year-end sale" which was to last another five days With many retailers perpetually holding one sale after another throughout the year, you cannot blame them for getting as
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    • 193 7 TRENDS THE WINDS OF CHANGE are blowing strongly from Europe. Meridian and B W in England, Revox in Switzerland and Bang Olufsen in Denmark have been pushing the idea of 'active' loudspeakers. These are self-powered speakers containing their own amplifiers. Their only link is to
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    • 772 7  -  I .L V By SIR HAMILTON WHYTE WHAt ARE DIPLOMATS for nowadays? They are widely regarded, given today's rapid communications and jet travel, as an over-privileged (they don't pay taxes and they ride around in fancy cars with flags flying) combination of messenger boy, doorman and
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    • 905 7  -  By MARTIN SOONG BMW CARS have developed an almost mystical reputation that is synonymous with ambition, talent and style. Medium-sized models such as the highly-successful Three series have made Bavarian Motor Works the marque of preference for young turks in business and industry worldwide. Now, with its
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    • ENTERTAINMENT/THE ARTS/PURSUITS ENTERTAINMENT/THE ARTS/PURSUITS
      • 494 8 TELEVISION Jaime Lye OKAY FOLKS, let's join hands, sing a song of caring and sharing and hand that tax-deductible $100,000 to Community Chest. Better still, do it on TV during Heartstrings, where every Singaporean who isn't out bidding a noisy welcome to 1987 can watch you
        Jaime Lye  -  494 words
      • 531 8  -  CINEMA By JAIME LYE SOME ACTORS are born funny. Others have funniness thrust upon them. Others, however, have it tailor-made into a suit. Danny DeVito and Bette Midler belong to this unique third group of chameleon actors who can be as outrageously funny as they can
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      • 1423 8  -  HEALTH By RICHARD SEAH LAST YEAR, I stopped sneezing. 1 used to sneeze at every opportunity in the morning, afternoon and night, at the scent of detergent, deodorants, air fresheners, strong perfume, whenever there was dust, cigarette smoke or the "flu bug"
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      • 679 9  -  SHOWBIZ By BRIAN MILLER DID SOMEONE say that we're in the midst of a recession, or well, something to that effect? Because, if true, it's hardly showing at least not where the entertainment industry's concerned. And if 1986 was a good year, '87 will be
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      • 739 9 CINEMA: Ruthless People Starring Bette Midler, Danny DeVito. Showing at Orchard: 1.30; 4; 6.30 9.15. The Fly starring Jeff Goldblum, Geena Davis. Showing at Bedok, Broadway, Golden Sultan, K A People's, Majestic, Odeon-Katong, Regal, Kong Chian. Take It Easy starring Mitch Gaylord and Janet Jones. Showing at Capitol: 11;
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      • 532 9  -  DANCE By LISA LEE WHILE MOST of us must know something about Paris, of which many songs have been sung and films made, not many can picture the Latvian capital of Riga. But both the French capital and the Soviet city have picked Singapore for their
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      • Article, Illustration
        891 9 Agencies From Real Men to Nice Guys BRUCE FEIRSTEIN says he's sickened by the thought that no matter what else he may write in his lifetime, he will be remembered first as the man who decreed in 1982 that Real Men Don 't Eat Quiche. He resisted pressure
        Agencies  -  891 words
    • PERSONAL INVESTMENT
      • 1152 10  -  Local unit expected to stay in $2.17 to $2.22 range against greenback By RAMESH CHANDIRAMANI WHERE WILL the dollar settle? That is the question still being asked 15 months after the historic G-5 meeting when the major economic superpowers agreed to drive
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      • 395 10 NO NEWS is good news, right? Not in the case of the local exchange, which has been drifting aimlessly for the past four weeks, causing the quality trustee stock issues to loose ground, while the speculatives hold steady, albeit at lower levels. The market lethargy
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      • 721 10 HIS PREDICTION may sound like the lone voice crying in the wilderness, but Jim Rogers is extremely cautious about where he is putting his money this year. Most money managers think otherwise and are willing to bet that the great equities race, which
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      • 892 10 MORE AND MORE analysts, dealers and fund managers are starting to think and talk Malaysia. As each day passes, signs gather which indicate that the worst is over, and a slow road to recovery is now underway for both the Malaysian economy and
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      • 356 10  -  aatpj By RC AVID READERS of this column were among the first to benefit from the new bull market for Singapore equities which got underway from May 1986 Prior to each major upward thrust or correction in the Straits Times Industrial Index or individual
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    • SPORTS
      • 596 11  -  By BRIAN MILLER I SEE history being made in Penang this weekend and it has nothing to do with the running of the season s last classic, the Governor's Gold Cup. History will be written when K C Ng becomes
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      • 388 11 Reuter NEW ZEALAND and Stars and Stripes yesterday clinched places in the challenger final of the America's Cup by establishing unbeatable 4-0 leads in the best-of-seven semi-final series. New Zealand finished the eight-leg 24.5-nautical mile course two minutes and 44 seconds ahead
        Reuter  -  388 words
      • 275 11 FITNESS AS 1986 GIVES way to the year of the rabbit, paramount in minds must surely be career, business and the next overseas trip. However, there is one thing we tend to forget fitness and health. Some of us take it
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      • 841 11  -  Fans get to see world class sportsmen in action Rthe year in EVIEIV Imhmmhmmi Local Sports By WALTON MORAIS AFTER YEARS of sheltered inbreeding, the news of the year for sports in the Republic in 1986 was how Singapore crawled out of its shell and leapt onto
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      • 243 11 AP NUMBER ONE SEED Ramesh Krishnan of India took an easy 6-2, 6-2 victory over Sweden's Johan Carlsson on Thursday, while upset-minded Michiel Schapers of Holland grabbed a comfortable 7-5, 6-3 win over American Matt Anger in the opening round of the Santos South
        AP  -  243 words
      • 150 11 Reuter INTERNATIONAL CRICKET STAR lan Botham is giving "very serious consideration" to an offer to play English minor counties cricket for Northumberland for the next three years. Speaking from Switzerland on Thursday, Botham's agent Bev Walker confirmed that a sponsorship offer by North
        Reuter  -  150 words
      • 724 11 Reuter GREG NORMAN, who collected a dazzling US$l.B million last year, looks for more rich pickings with the start next week of the 1987 US golf tour where a record US$3O million is up for grabs. Now based in Florida, the Australian also
        Reuter  -  724 words
      • 533 11 AP TWO CLASSIC innings of complete contrast a Howitzer-like 68 by lan Botham and a more sedate but equally meritorious century from Dean Jones gave a record crowd a feast of entertainment in the second criket match of the Benson
        AP  -  533 words
      • 561 11  -  BRIDGE By MIKE THUMBA IN DEFENSIVE SIGNALS, as the term suggests, the defenders cannot talk but can use only signals to communicate with each other during play. And this communication can be done only through the play of cards. At this point, two important facts
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  • Page 7 Advertisements
    • 305 7 The tallest man in the world was once Robert IVrshing Wad low. standing 272 cm (N 11.1 but who is the tallest now?... I I'M lIII.U IWl.ss M>h (H K'l CoKhs i' largest spider has a leg span of 2.">bmm (10. J|, hut which is the fastest.. s|\ ilil.U l\M.ss|>()OK()l
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  • Page 8 Miscellaneous
    • 2493 8 Eastwood, Dune and Christie TODAY: Clint Eastwood adds "You're a legend in your own mind" to his list of profound "Make my day" ditties in Magnum Force (11 pm, Channel 5). In spite of his own unorthodox police methods, Dirty Harry Callahan cannot accept the fact that some vigilante group
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  • Page 9 Advertisements
    • 110 9 \Sgfci \'mS& Tfr* f X 4 f f Ml- V V Let BT show you the ropes for effective v- 'ma Vo: :A v: .-saa V ft!' management every Monday BT, Singapore's biggest business daily, has two full pages on Management every Monday. This is essential reading for all successful
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  • Page 10 Advertisements
    • 86 10 For horse racing fans... Business Times, Singapore's largest business daily, has a reputation for in-depth coverage of business and financial news. Easily the most trusted paper among Singapore's key decision makers, BT keeps them ahead in the economic race. On another kind of race, BT also prides itself on giving
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  • INTERNATIONAL STOCKS
    • 509 12 Reuter THE WORLD'S top three aircraft manufacturers are squaring up to battle for a potentially huge market for a new generation of long-range airliners seating about 300 people. McDonnell Douglas's decision on Monday to go ahead with its new widebodied MD-11 jetliner confronted
      Reuter  -  509 words
    • 417 12 Reuter WALL STREET STOCKS closed lower on Wednesday in a farewell bid to 1986. The market was pressured throughout the day by a record US$l9.2 billion November trade deficit that caused a sharp sell-off of the US dollar and pushed investors to question
      Reuter  -  417 words
    • 180 12 Reuter BANKAMERICA CORP's board of directors is expected to heed chairman A W Clausen's advice to reject First Interstate Bancorp's US$3.l billion takeover bid. According to the San Francisco Chronicle, quoting unidentified sources, Mr Clausen will recommend to the directors at their monthly
      Reuter  -  180 words
    • 134 12 DEC 31 Abitibi C S 28 Imp Oil CI A Inco Int Prov Pipe lu Intl 51% 16% 40 20% unch A lean Alum m 15% Algoma Stl .11 12 Bank Nova Scotia 17% McMil Bldi 40% Bank Of Montreal 33% 22% Ball Canada 37% 28% Bp Resources 36%
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    • 631 12 DEC 31 US Alcan Alumin Alcoa Alleg Infl Allied Sig Allied Store* Allis-Chalmers Am Brands Inc Am Can Co Am Cyanamid Am Elec Pwr Am Express Am Home Prod Am Motors Cp A max Inc 26* 33* 12* 40* r.. 2% 42* 84* 77* 27* 56* 76* 2*
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    • 300 12 Paris DEC >1 FR8 CORBEILLE Air-Liquida Aqmtain* Nat Dm Patroias B S N Garvats Danona CSF (ThomaonCaf) Credit Fonciar Da Franc* Michaltn 0 F P Patrotina Paugaot Sa Phmpa (Nv Gam Bazrt) Royal Dutch Tatamacamque Total-CFP 701 ***** 4360 1565 1181 2560 1495 1585 1185 126 613 3140
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    • 139 12 Reuter THE PRESIDENT of the Federal Cartel Office, Wolfgang Kartte, has urged West Germany's biggest banks to make voluntary cuts in their industrial holdings and in the number of seats they hold on the supervisory boards of companies. Mr Kartte said on Wednesday
      Reuter  -  139 words
    • 257 12 UPI PHARMACEUTICAL company, Burroughs Wellcome, will add extra work shifts to make the Aids drug AZT because it fears there will be a shortage once it becomes available commercially later this year. Kathy Bartlett, spokeswoman for Burroughs Wellcome, said the
      UPI  -  257 words
  • Page 12 Advertisements
    • 129 12 I •ji H IT m T m f > .i- 'Ji 3 J W'~Z *>■?' r; Us #*5S> Baron's Table Sunday Branch... you'll love it/ Give mum a break this Sunday and bring the family in for our taste-tempting Brunch. You can relish our enormous spread of wholesome fare at
      129 words
    • 138 12 It's the NEU FACES... Fresh from their European tour. The NEU FACES Veteran and versatile musicians Rock n Roll. Top 40. New Wave excellently performed for grand entertainment Nightly except Sundays At the Alcove Lounge where the beer is cheapest among hotel lounges 1 M cove TTiju L .Tfi iJ
      138 words
    • 219 12 TE OCHEW PORRIDGE BUFFET $5-50 i >1 N arscr $5 v irv rli^v (per person) You can enjoy savoury 1 homely dishes such as braised pork steamed stuffed Dean curd sambai txinjai 9 fried salted fish sauteed chicken with mushroom sauteed chai poh omelette f fried ttack pomfret m soya
      219 words
    • 97 12 treats tf 4* Ml Teppanyaki Set Lunch at $18.00+ With a choice of beef, chicken or seafood and served with appetizer, rice, soup, pickles and dessert OR 12 different sets of Japanese lunches priced from $10+ to $20+ per set Lunch: 12 Noon-2.50 pm Pinner: 6.30 pm-10.30 pm ■||B 10
      97 words
    • 124 12 Thunderstorm expected nightly from 8 pm except Sundays. j /Hold it, don't reach out for your umbrella. It s Thunderstorm, the band that'll be striking up. Come prepared instead for a downpour of latest hits any day from 8 pm except Sundays, ®WC HOTEL 27(1 Orchard R.wd. Singapore O»2J M
      124 words

  • ASIAN STOCKS
    • 267 13 JAM M CENT* MOUSTMALS A C 1 405 -5 Hartooan Enargy.... Haralo Hookar ICI .290 1350 288 310 15 70 3 5 A N 1 310 unch Abartoyta 1130 20 Age 325 Amcof Ampol Exp Ampoi Pat Anz 410 335 270 582 10 unch unch Magadan Pat Auat Mayna
      267 words
    • 76 13 JAN 02 MSO« Marataal 0.03 0 002 Aco)« Mining Z 0.003 0 0006 Phil Ovwmh. ...0.042 0.003 Apex Mining B 0.037 0.001 Pvcop B ...4 urtch unch 4 Atlaa Con B 18 1 San Mlguai B 114 Basic Patrolaum 0.012 112 0.002 Saalront Si ma Darby 0 023 .30
      76 words
    • 241 13 AUSTRALIA: Keen support for selected industrial, gold and oil stocks pushed Australian share markets to their fourth consecutive record close, brokers said. Oil and gold stocks were in demand following a U5515.50 rise in bullion prices and a rally in oil prices. But media stocks took centre stage after Bell
      241 words
    • 436 13 HONGKONG: Shares prices yesterday closed lower on moderate profit-taking by local investors, brokers said. The Hang Seng Index lost 28.24 points to 2,540.06 after finishing at a record 2,568.30 on Wednesday. The Hongkong Index fell 18.12 to 1,620.40. But sentiment remained bullish on expectations of good growth by the
      436 words
    • 157 13 BANGKOK: The Stock Exchange of Thailand Index rose 1.96 to 209.16. Turnover totalled 790,244 shares worth 142.2 million baht. The Book Club Index was up 1.77 at 188.30. JAM 02 BAMT Ao Kham Thai Siam Camant Siam City 867 620 12 +12 Ayudhya Investment Bangkok Agro-lrtd 244 60S0 10
      157 words
    • 142 13 AP DATA GRAPHICS CO, a subsidiary of General Dynamics Corp of the US. is considering setting up a factory in Taiwan, the official Central News Agency has reported. CNA said a four-member Data Graphics delegation, including experts in optics and electronics, visited Taipei
      AP  -  142 words
    • 419 13 AFP, AP MEDIA MAGNATE Rupert Murdoch yesterday failed in his second attempt to gain control of the Herald and Weekly Times, Australia's largest media group. A ASI.B billion (US$l.3 billion) bid by Mr Murdoch s News Corp was turned down by the group s
      AFP,; AP  -  419 words
    • 435 13 Bernama INITIAL confusion over the use of company vehicles marred an otherwise smooth launching of the Syarikat Telekom Malaysia Bhd (STM) in Johor Bahru, the private company which from Thursday took over operations of the Telecoms Department. STM made its debut in Johor and
      Bernama  -  435 words
    • 110 13 AFP JAPAN'S largest computer maker, Fujitsu, and ATT of the US, the world's largest communications service company, are to jointly develop, produce and market computers, a Japanese newspaper said on Thursday. The tie-up aims to counter moves by US computer giant IBM, which has
      AFP  -  110 words
  • Page 13 Advertisements
    • 102 13 v i Wit&tt to Wim, iiirte aSBi T/L'% Start ofA New Experience Kinta-Mani Delightful Indonesian meals! Our specialties include Charcoal Grilled Seafood, Gado Gado. Sate iSatay). spicy Rendangs. Ayam Goreng. Chendol and more! Tickling your palate with an authentic Indonesian cuisine is only half the experience. The other half is
      102 words
    • 133 13 53 a S übertua (S)rill Hooray for Sunday! Sunday Brunch at the Hubertus Grill. Make it an occasion for the whole family. Sausages, bacon, oysters, smoked salmon, tasty entrees right through to pastries, puddings, fruit salad and cheeseboard Sunday Brunch: 11 am 2.30 pm. $24 for adults. $12 for children
      133 words
    • 122 13 J < m Exclusive Pool Membership for only $15 a month For as tow as $15 a month you are entitled to unlimited use of Grand Central's pool facilities Membership is also open to the following Single $15.00 per month Group/Company $12 per Couple $25.00 per month person per month
      122 words
    • 141 13 THE MOST WONDROUS BUFFET LUNCH IN TOWN Enjoy a gourmet buffet luncheon at an ungourmet price l For starters, take your pck of our cold Otshes prawns on ice fresh oysters smoked salmon, melon and dried ham. vegetable ternne mixed seafood salad cooked assorted vegetables and homemade dressings Select your
      141 words
    • 81 13 < T* Ti Z? k-cm:t 2 MM Ml F? ft K Christmas/ Ne*Vear s $280++ c tor 10 persons V.I.P. Set $41 B++8 tor 10 persons «mf* I QEE2B il'A*: <77/ I SICHUAN (CaimkUl Hotel) S'pon 0922 T*i: i lIIOiI *gpeci*l For all you can eat $11.90* per person Specialities
      81 words

  • SHARE INFORMATION
    • 4071 14 FOLLOWING the New Year holidays, the market saw one of its quietest trading sessions, with the lowest recorded volume in five months. Share prices eased a little across a broad front. Turnover was the lowest since July 28 last year when 7.6
      4,071 words
    • 247 14 Rises SINGAPORE Indlcas 430 S 1 A 925 f H 7*5 Wtofw 519 ms 420 T N S 330 Omm M 320 SM Vtow 177 H S0< 129 U 1 C 26* *Mpho M SO* 23 Falls S S 21* to* Mi SO* 209 F N 900
      247 words
    • 2517 14 810 arid offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. Ail Time Settlement Contracts are quoted after the word "SETT".
      2,517 words
    • 104 14 HONGKONG Hongkong Index Friday *****0 Wednesday 1639.69 Week ago Closed Hang Song Index Friday 2540.06 Wednesday *****1* Week ogo Closed All Industrial* Friday 2362.5* Wednesday ***** Week ago Closed NEW YORK Dow Jones Thursday Closed Wednesday *****5 Week ago Closed TOKYO Nikkei Average Friday Closed Wednesday Closed Week
      104 words
    • 240 14 Managers' price* MARA-Bumiputra for Jan 3 5 Fir* 6 purro S*COnd B putro 518 4 69 523 474 Singapore Unit Trust Third B'putro Four* B'putro 370 4 16 375 421 Th* Co Hiiro 08* 09* RM B'putro 168 173 Th* Savings Fund 082 om Sulk putro 276 281
      240 words
    • 102 14 PEAK HUA INDUSTRIES Berhad: 17th AGM at the Conference Room at Lot 1509, 15th Floor, Wisma HLA, Jalan Raja Chulan, ***** Kuala Lumpur, on Wednesday. Jan 7, at 10am. BATU KAWAN Berhad: 22nd AGM at Wisma Taiko. 1, Jalan S.P. Seenivasagam, Ipoh, Perak, Malaysia on Friday, Jan 23,
      102 words
  • Page 14 Advertisements

  • COMPANY NEWS
    • 431 15 moq mm™ By HOCK LOCK SIEW TWO COUNTERS, Lum Chang Holdings and Ambassador Holdings Ltd, requested their shares to be suspended from trading yesterday. The simultaneous suspension of the shares is believed to be connected to a tie-up between Lum Chang and Ambassador.
      By HOCK LOCK SIEW  -  431 words
    • 337 15 MBT HONG LEONG Finance Bhd is now in the final stage of negotiations to bail out Koperasi Bersatu Bhd (KBB). The finance company, a whol-ly-owned subsidiary of listed Hong Leong Credit, has reached verbal agreement with KBB and hopes to seal the accord, and
      MBT  -  337 words
    • 83 15 THE MALAYSIAN Ministry of Works has awarded a letter of intent dated Dec 29, 1986, to United Engineers (M) Bhd for the privatisation of the North-South Toll Expressway. (JEM will be entering into discussions with the government immediately to finalise the de- tails before commencement of
      83 words
    • 332 15 UNITED OVERSEAS Bank. United Overseas Insurance and United Overseas Finance announced separately that foreign persons beneficially owned or controlled respectively 19.36 per cent, 16.71 per cent and 1.92 per cent of their companies' respective ordinary paid-up capitals as at Dec 31, 1966. INTRACO LTD said yesterday that nine
      332 words
    • 575 15 Current b Books Dale Total lor Total lor peyment date doi§ payable he year laat year A B N !3'/i%l Aug 19 NYA NYA 13'/,% 27% A M D B 1 3%lbl OK 22 Jon 6 Feb 6 13% 2% Amal Steel 8%TEIbl Dec 2 Dec 12 NYA
      575 words
    • 505 15  -  Restructuring will give Benison 50pc in broking firm By HOMER CHEN BENISON INVESTMENTS, a local private company controlled by Hotel Properties directors Mr Peter Fu and Mr Ong Beng Seng yesterday signed an in-principle agreement with J Ballas Co to inject $15
      505 words
    • 171 15 Bernama SPK-SENTOSA Corporation Bhd has called off the acquisition of three other petrol kiosk lots in Kepong from Angsana Sdn Bhd. SPK-Sentosa had earlier entered into an agreement with Angsana to purchase four petrol kiosk sites. It has paid M 51.98 million,
      Bernama  -  171 words
    • 99 15 Bernama SYARIKAT TELEKOM Malaysia Bhd (STM) "will not rush" to have its shares listed on the Kuala Lumpur Stock Exchange (KLSE) even after it has satisfied the KLSE condition of making profits for three successive years. STM managing director Daud Isahak
      Bernama  -  99 words
    • 455 15  -  By ELAINE KOH TWO LISTED companies representing a broad section of the Malaysian economy have slipped into the red at half-time, reflecting the "weak economic climate" prevailing during the six months ended September 1986. Pegi Malaysia Bhd, in investments and plantations, incurred group pre-tax losses
      455 words
    • 316 15 THERE WAS no New Year revelry at the Kuala Lumpur stock market yesterday. Instead, conditions turned quiet and the mood was very much a cautious one. Share prices finished slightly easier but light buying support was evident towards the close of the day and
      316 words
    • 1887 15 810 and offer prices officially listed end business in and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified. INDUSTRIALS Acrno t—l AjiHOWOtO I Atox Hldg I—J Alcorn (70S)
      1,887 words

  • 228 16 LOWER INTEREST payments to depositors are expected to contribute to a much bigger surplus for the Post Office Savings Bank this year. The bank has forecast a surplus of $91.7 million, two-and-a-half times that expected for 1986. Income is expected to reach $495.7 million, while total
    228 words
  • 180 16 CONSULTING FIRM Industrial and Offshore Computer Services will be joining the Singapore Science Park in March or April. The company, founded by former academic Or David F will take up 250 sq m of space at the Marine Technology Centre of the Park. Or
    180 words
  • 783 16  -  Tightening of copyright laws played a key role By ZHOU MEI, Economic* Correspondent SINGAPORE exporters will enjoy greater duty-free access into the United States as a result of a two-year general review of the generalised system of preferences (GSP) scheme.
    783 words
  • 297 16  -  By LUCY NG LAWYERS Giam Chin Toon, 44, and C R Rajah, 36, were last night elected the Law Society's president and vice-president respectively for a one-year term. There was no contest for the two posts. Mr
    297 words
  • 256 16 AP THE CHINESE government yesterday expressed concern over Japan s decision to exceed its decade-long ceiling on defence spending, saying that Japan should be aware that the buildup of its military forces was a sensitive issue in Asia. The government of Japanese Prime Minister Yasuhiro
    AP  -  256 words
  • 312 16  - SingaporeCanada air talks look set to take off By MARTIN SOONG AIR TALKS between Singapore and Canada look set to be revived after a meeting yesterday between ministers in charge of transport in the two countries. Dr Yeo Ning Hong, the Minister for Communications and Information. held talks with Canadian
    312 words
  • 634 16 A MORE LIBERAL style of government can only come when the new leadership has established its authority and competence, says Foreign Minister S Dhanabalan. There had been, he said in an interview with the Far Eastern Economic Review, a gradual change
    634 words
  • 179 16 AP US REPRESENTATIVE Claude Pepper enlisted George Burns and a calvacade of aging celebrities in his drive last year to abolish mandatory retirement and he won. Under the law that went into effect yesterday, most employees cannot be forced to
    AP  -  179 words
  • 269 16 Sabah tourism call for care Bernama SABAH Chief Minister Datuk Joseph Pairin Kitingan yesterday cautioned the State Task Force On Tourism against "over-pro-moting" the state without making sure that it was ready for a large influx of tourists. "We must keep the tourists happy and ensure that they are properly
    Bernama  -  269 words
  • 239 16 AN INDEPENDENT report on some of the group assets of troubled commodity trader Teck Hock Co is expected to be presented to the nine creditor bankers next week. BT understands that the nine bankers Algemene Bank Nederland, Bangkok Bank, Banque Nationale de
    239 words
  • 103 16 Reuter COMEX GOLD FUTURES rose moderately in early trading yesterday as the market began the new year on a strong footing. After closing above US$4OO an ounce on Wednesday for the first time in more than a month, the February gold delivery traded at U*****.40 an
    Reuter  -  103 words
  • 65 16 Reuter WALL STREET welcomed the new year with an early surge yesterday. The advance was triggered by a firm fixed income market and a number of buy programmes that concentrated on a handful of blue chips, traders said. The Dow Jones Industrial Average jumped 25 points to
    Reuter  -  65 words
  • LATE FILE
    • 69 16 Reuter KUWAITI Oil Minister AM alKhalifa al-Sabah has said that an oil price of US$lB a barrel should be achieved this year and he hoped that the level would be maintained in the following two or three years. Crude oil pricee did, in fact, rise
      Reuter  -  69 words
    • 58 16 Reuter CHINA will not raise its total volume of oil exports this year. Zheng Dunxun, president of the China National Chemicals Import and Export Corporation, or Sinochem, said that the move was designed to help the Organisation of Petroleum Exporting Countries in its efforts to
      Reuter  -  58 words
    • 51 16 AP BANKERS yesterday predicted that Thailand's economy would grow at a rate of at least 5 per cent this year, slightly higher than last year's rate. Economists said that this year's rate would rise because of factors including falling oil prices and increased exports.
      AP  -  51 words
    • 51 16 Reuter FRENCH industrial output is likely to fall in the near term, reflecting weak demand for capital goods and semi-fin-ished products. The National Statistics Institute's latest monthly poll of industrial managers shows weak demand in nearly all sectors other than consumer goods and cars in
      Reuter  -  51 words
    • 44 16 Bernama SARAWAK'S external trade surplus amounted to M 52.839 billion during the first 10 months of last year, down 24 per cent, or Ms9l4 million, from that of the corresponding period in 1985, the State Statistics Department said yesterday. Bernama
      Bernama  -  44 words
    • 28 16 AP PRESIDENT Corazon Aquino's government yesterday repeated its rejection of rebel demands for a transitional coalition government, calling the proposal "unfounded and illogical— AP
      AP  -  28 words
    • 30 16 AP PRESIDENT Ibrahim Babangida says that Nigeria will offer the services of technicians and professionals to other African countries as a form of foreign aid. AP
      AP  -  30 words
    • 46 16 AFP SHIGEO NAKAJI, 50. chief Of a Japanese National Railways regional bureau, yesterday hanged himself in apparent apology for the deaths of six people when a train fell off Asia's highest railway bridge. The bureau was responsible for the ill-fated train. AFP
      AFP  -  46 words
  • Page 16 Miscellaneous
    • 49 16 Champagne Crossword The solution □ana oannn no □o □□□□□□□□□□O i3iDDD ISOBBD o D □□□□a □□□□□□□□a a n iinnn jnun»i a a o anao no □□□□□o a a n an a a o D □□□□a unnon n □□□□oi OBnUB B B B B B übboo n lIBDBO a QBBBB ÜBDDI
      49 words
    • 44 16 Outlook: Fair Raport lor 24 hour* prior to 7.30pm on Jan 2 at tha airport: Maximum tamparatura 31.0 Assoclatsd humidity 59 Minimum tamparatura 23.8 Associated humidity «96 Houra of sunshine 7.45 Rainfall In mllllmatras nil Rainfall this month nil Rainy days this month 0
      44 words