The Business Times, 14 February 1987
1987-02-14
1
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The Business Times
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Title Section12 1987-02-14 1 BUSINESS TIMES M.C. (P) No. 112/12/86 SATURDAY, FEBRUARY 14, 1987 75 CENTS12 words
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Article, Illustration187 1987-02-14 1 Exchange ratee THE SINGAPORE DOLLAR fell slightly to $2.1440/50 ($2.1420/30) against the US dollar in the forex market yesterday. It eased to $3.2503/39 ($3.2472/2520) against sterling. The local unit also weakened against yen, but went up vis-a-vis the ringgit and D-mark. US$1 154.05/15 ran, 1.8340/50 DM, £j187 words
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Article82 1987-02-14 1 AFP JAPAN'S industrial production fell 0.3 per cent last year, the first fall in 11 years, the Ministry of International Trade and Industry said yesterday. In e preliminary report late last month, the ministry said Japan's industrial output in 1986 went down 0.4 per cent fromAFP - 82 words
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429 1987-02-14 1 ALVIN TAY - Teck Hock Co finds buyer for HCB Futures By ALVIN TAY, Banking Correspondent TROUBLED COFFEE giant Tack Hock Co has raachad an agraamant to sail its financial futuras trading arm, HCB Futuras Pta Ltd, to Franch bank Banqua Indosuaz. Banking sourcaa told BT that tha ownership of HCB Futuras. a429 words
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Article, Illustration689 1987-02-14 1 Four other new directors appointed to the board MALAYSIAN SUGAR KING Robert Kuok Hock Nien has taken over the helm at beleaguered Multi-Purpose Holdings Bhd (MPHB), replacing Datuk Lee San Choon who stepped down yesterday together with five other directors. Joining Mr Kuok on the689 words
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Article, Illustration184 1987-02-14 1 STRONG BUYING yesterday afternoon offset heavy profit-taking earlier in the day with the market closing steady after some frenzied trading. Brokers were amazed at how well the market endured its in-tra-day correction in the midst of heavy trading, and many said that this184 words
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128 1987-02-14 1 Reuter THE HONGKONG Securities Commission has ruled that control over the reactivation of the listing of dormant or "shell" companies, known as back-door listing in the colony, should be tightened, Securities Commissioner Ray Astin said. The commission said in a statement it didReuter - 128 words
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129 1987-02-14 1 AUSTRALIA HAS threatened to reduce both trade with Taiwan and its preferential treatment of Taiwanese goods in protest against restrictions on Australian wine, beer and cigarettes, the Taiwan Board of Foreign Trade said yesterday. The board's deputy director, Augustine Wu, told a news conference129 words
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Page 1 Advertisements
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Advertisement304 1987-02-14 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM A nation of firsts FOR THOSE obsessed with "firsts", the place to go to in America is the Dominican Republic. It has the first colonial building, first cathedral, even the first colonial street. In 1992. the island hopes to put Its name prominently on304 words
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Advertisement265 1987-02-14 1 *a u i Ikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM rv*a 'V -t Kiss-and-tell Valentines some executive true-love stories Page 9 Beginning this week: An Art Index from Sotheby's for collectors Page 13 Flushing out the insider traders Page Violins love with strings attached Page 10 TV programmes for today and265 words
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HOME NEWS
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520 1987-02-14 2 CHUANG PECK MING - By CHUANG PECK MING THE NINE Parliamentary Committees set up recently to involve government backbenchers more directly in poli-cy-making will make their debut with this year's Budget in March. The committees have already begun preparatory work to appoint members to their relevant resource520 words
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200 1987-02-14 2 THE People's Action Party will pay for expenses incurred by the parliamentary committees, said Mr Goh Chok Tong. This was because they were started by the party rather than the government, the First Deputy Prime Minister said in reply to questions from200 words
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Article, Illustration552 1987-02-14 2 SHE RISKED HER LIFE and sacrificed sleep. For that, The Straits Times foreign correspondent Abby Tan was yesterday honoured with the 1986 Story of the Year award for her coverage of the overthrow of the Marcos regime in the Philippines last year. Four other552 words
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247 1987-02-14 2 COOPERATION amongst the US, Europe and the Pacific countries is vital for the credibility and future of the world economic system, says the former president of the European Community Commission. Gaston Thorn, who is now president and chairman of Banque International a Luxembourg247 words
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384 1987-02-14 2 ROLEX, which has put its name behind golf, polo and exploratory endeavours, has ventured into the Singapore arts scene with the launch of the Rolex Music Performance Award for pianists and violinists. The bi-annual Rolex awards, to be given to the Republic's384 words
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Article, Illustration360 1987-02-14 2 THE LOVE-STRUCK, on the lookout for ways to confess their being shot by Cupid's arrow, have turned to more professional help to solve these matters-of-the-heart. What to give for Valentine's Day has been worrisome for some since a month ago, according to Mrs Olive Fones360 words
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427 1987-02-14 2 MARTIN SOONG - By MARTIN SOONG DEREGULATION of the Japanese airline industry last year has opened up international routes for domestic carriers such as Toa Domestic Airlines (TDA), which lands its first charter flight to Singapore today. The TDA president, Mr Toshihiko Kubota, accompanied427 words
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Article1063 1987-02-14 2 AT CONVENTIONAL WHARVES MARMA WHARVES VmmI Bartft KEPPEL WHARVES Alfesoni <27 Ananas K19 Eastern Glory K2B Golden Haven <33 Holsatia <36 Kota Btspres K31 lika 1 K15 Motsukaze K30 Reina K21 Ronghuashan <32 Straits Hope K24E Wokatoke Moru K16 Auby K25W Barber Texas <09 Builder 2 <221,063 words
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Page 2 Advertisements
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Advertisement6 1987-02-14 2 Lssdsr, Page 8 Kiss-and-tell Valsntinss, Psgs6 words
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OVERSEAS
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423 1987-02-14 3 UPI JAPANESE FINANCE MINISTER Kiichi Miyazawa said yesterday there had been "no moves" towards calling a meeting this weekend of the five major industrial nations on measures to stabilise currency exchange rates. Despite Japan's requests for the sessions outUPI - 423 words
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302 1987-02-14 3 Reuter THE US NEGOTIATOR at the global trade talks in Geneva said on Thursday that the effort to liberalise the world trading system could be wrecked if Congress curbed the American delegates' negotiating authority. Deputy US Trade Representative Michael Samuels said the US hopedReuter - 302 words
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Article, Illustration399 1987-02-14 3 Reuter GREECE'S socialist government, brushing aside a wave of protest strikes, has vowed to press on with an unpopular economic austerity drive. A 24-hour strike by more than one million workers disrupted transport, closed banks and caused power cuts in many partsReuter - 399 words
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Article468 1987-02-14 3 West German economy grinds to a halt Reuter THE WEST GERMAN economy ground to a halt at the end of last year as the dollar's fall against the mark bit into the nation s vital exports, the central bank has said. The Bundesbank painted a grimReuter - 468 words
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476 1987-02-14 3 FT WEST GERMANY'S Free Democratic Party (FDP), junior partner in the Bonn coalition government, has served notice that efforts to form a new administration could run into serious trouble unless it wins agreement soon on a cut in taxes on top earners.FT - 476 words
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215 1987-02-14 3 AP PRESIDENT Ronald Reagan, taking note of recent events in New York City and Georgia, acknowledges that racism is still present in the United States. "Perhaps you and I can best honour Abraham Lincoln by continuing his work," Mr Reagan told a groupAP - 215 words
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170 1987-02-14 3 Reuter AUSTRALIA has protested to the United States against broadening its interpretation of the Anti-Bal-listic Missile (ABM) treaty so it could quickly deploy its Star Wars space defence system, according to an Australian Foreign Ministry spokesman. Australian Ambassador to the US Rawdon DalrympleReuter - 170 words
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378 1987-02-14 3 FT THE BANK OF ENGLAND has given a clear signal that it wants Nigel Lawson, the Chancellor of the Exchequer, to reduce next year's target for public sector borrowing, to pave the way for lower interest rates. The bank's view, contained in itsFT - 378 words
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370 1987-02-14 3 AP ONLY 17.5 per cent of 96.9 miHion working Americans were members of labour unions last year, a halfpoint decline from 18 per cent in 1965, according to US government figures. But the still unreleased figures also show unionists enjoying a wideningAP - 370 words
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287 1987-02-14 3 Reuter A PENTAGON REPORT has recommended that the US Defence Department pour up to US$2 billion into a concerted effort to help US electronics firms battle foreign competition in the computer chip industry. The report on semiconductor dependency warned Defence Secretary Caspar Weinberger thatReuter - 287 words
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Article685 1987-02-14 3 ARRIVALS DEPARTURES Operator S*rvico number f yiffi Mm* From Operator Sorvico number Local For flmo SU SIA OA SIA SV SU GU SU SU SU THAI KIM SU THAI OA MAS MAS GU SU Al MAS tA Al TOA DOMESTIC AMUNES SU UTA SU GU UL GU685 words
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Page 3 Advertisements
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Advertisement55 1987-02-14 3 If /I I A W J The business person's choice. II /1 /lV every Tuesdoy. Saturdoy and I jl II I/ I I l/~~\ I Sunda V- Leaving Changi Airport at I I 22:05 hours and arriving Bombay at 00:30 hours. Call your Travel Agent or Air Canada at *****55.55 words
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Page 3 Miscellaneous
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Miscellaneous67 1987-02-14 3 THE CALIFORNIA J™ STATE TASK FORCE 5251 TO PROMOTE SELF- *«>■ ESTEEM! TVEBEEN /A SUBCTBPf BY GARRY TRUDEAU THATS ITS THE FIRST OFFICIAL ALREADY STUDY OF NEW AGS MORE THAN THINKING! TVS TOTALLY IHANTTO HISTORIC! I MAS AT KNOUJ. ALLTHE HEARINGS IN x SACRAMENTO LAST M m 7 m Ili67 words
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WORLD BACKGROUND
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Article, Illustration1035 1987-02-14 4 Policies challenge China's programme of economic revitalisation NYT MANY OF THE senior Chinese officials who appear to have profited from the forced resignation last month of Hu Yaobang as communist party leader are supporters of traditional Soviet-style economic planning and ideological control. SeveralNYT - 1,035 words
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535 1987-02-14 4 Reuter FOR CANADIAN Prime Minister Brian Mulroney, elected in 1964 with the biggest parliamentary majority in history, it is hard to imagine things getting much worse. His progressive Conservative government appears to have hit rock bottom after being buffeted during the past four weeksReuter - 535 words
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697 1987-02-14 4 Reuter DONNING GAS MASKS and protective plastic suits, tens of thousands of Israeli school-children and army reservists are being trained to cope with a chemical war. The special exercises are evidence of mounting concern at what Israeli officials say is an increasinglyReuter - 697 words
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RAW MATERIALS
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Article130 1987-02-14 4 OIL PRODUCTS FUEL OIL slid again with business done late afternoon yesterday at US$3/t lower than previous deal. Naphtha also traded lower with end-users in Japan now looking to buy at lower prices and sellers $1 to $2/t away at $159/t CIF Japan. Jet kerosene and gasoil remained stable for130 words
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Article203 1987-02-14 4 MALAYSIAN crude palm oil prices yesterday closed higher on late covering and speculative buying, supported by the rebound in palm oil futures and talk that India and the Soviet Union bought Malaysian palm oil on Thursday. Feb deliveries in the south region firmed Msls to Ms79o a tonne203 words
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Article66 1987-02-14 4 Bangkok Broken Rice A-1 Super 133 (US$/torme, FOB) A-1 Special 130 White Rice C-l Special C-l Ord unq unq 100% 1* do*» 255 100% 2nd daw 220 Loonzain Rice 100% 3rd do»i 215 100% 1st grode unq 5% 10% 15% 205 100% 2nd grade 215 200 100% 3rd grode66 words
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Article109 1987-02-14 4 THE Kuala Lumpur Tin Market price yesterday eased seven cents to M 517.01 a kilo on continued lack of strong buying support, after falling the same amount on Thursday. The fall followed weaker European spot market prices, which were influenced mainly by currency factors. The bearlshness reflected early109 words
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Article192 1987-02-14 4 SINGAPORE The rubber market closed lower yesterday with March One RSS buyers quoted at 196.25 cents/kilo, down two cents from Thursday. On the TSR-20 market, trading was very quiet throughout the day but prices were marked down in line with the RSS market. TSR-20 March and April closed at192 words
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Article304 1987-02-14 4 RAS prices in S cmMs, FOB In bate NOON CLOSE Buyers Sellers Buyers Seders Int 1 RSS Prompt 197.00 198.00N 196.00 197.00N Int 1 RSS Mar 87 197.00 197 JO 196.25 196.75 Int 1 RSS April 194.00 194 JO 193.25 193.75 Int 2 RSS OP 185 JO304 words
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Article80 1987-02-14 4 (cants/kg, 1-tor pallets) MAR 87 APR 87 (current month) (forward month) NOON NOON RAS Buyers Sellers Buyers Sellers SSR 30 179 SO 181.SON 178.50 180.50N SSR 50 177.50 179.50N 176.50 178 JON MRELB Ivftn Sellers Buyers Sellers SMR cv 282.00 284.00N 283.00 285.00N SMR I 282.00 284.00N80 words
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Article136 1987-02-14 4 Chines* Produce Exchange Sailors' noon doting prl cm an F*b 13 (SI/100 kg). Coconut oil Bulk FOB 86.00 Old drum FOB 96.00 Now drum FOB 100.00 Copra Mixed (loos*) 50 Pepper Munfok Whit* FOB NIW 1300.00 Sarawak White FOB faq NLW 1285.00 Sarawak ipcdal black FOB NLW *****136 words
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Article194 1987-02-14 4 SOYBEAN futures closed lower in Chicago on Thursday, falling six to 4% US cents and setting life-of-contract lows in all months except spot March, which settled at $4.86% a bushel. Professional and local selling weighed on prices following the early decline, prompting additional selling by commission houses as prices194 words
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Article179 1987-02-14 4 WHEAT futures extended midsession losses in Chicago on Thursday, falling 5% US cents to 2% cents at the close, with March at $2.72% a bushel Prices tumbled through sell stops as professionals and commercials sold the market after midsession. Prices initially came under spillover pressure from weakness in the179 words
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Article799 1987-02-14 4 COFFEE Robusta futures moved up in routine late trading on Thursday, responding to a rise in New York, and ended near the highs and probing overhead resistance levels. Contracts closed unchanged to £13 a tonne above Wednesday night after a featureless session as the market continued to mark799 words
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BANKING AND FINANCE
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Article830 1987-02-14 5 SINGAPORE: THE US DOLLAR closed higher against major currencies yesterday, helped by some European buying in thin late trading. There were no special factors to determine the dollar's rise and most operators were reluctant to take large positions due to uncertainty over its near-term direction. The market was830 words
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Article234 1987-02-14 5 Interbank rates at 3pm yesterday: CmimmIm NnM rtfM MMm M M> Local doHa re to on* unit of foreign currency: US do«ar 2.1440 2.1450 2.8196 -23.96 SfHtafl pour id 3.2503 3.2539 ***** -55^6 Australian 6t iNar 1.4214 1.4242 ***** -5834 HZ dolor 1.1663 1.1690 3.4286 -65.98 Canadian dc234 words
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Article331 1987-02-14 5 HONGKONG: Gold closed little changed in moderately active trading on light bargain hunting by local physical traders yesterday. Sentiment on the metal has turned bearish following its sharp setback in New York on lower crude oil prices. The strength of the US dollar also dampened interest in gold.331 words
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Article596 1987-02-14 5 MARCH Eurodollar recovered sharply higher from recent loesee after opening 5 ticks higher at 93.54 due to the low discount window borrowings which relieved fears that the Fed might be tightening policy. March Eurodollar hit a high of 93.62 immediately after the opening in hectic trading before squaring of596 words
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Article, Illustration228 1987-02-14 5 Asian market ASIAN DOLLAR deposit rates closed steady at easier opening levels in quiet afternoon trading yesterday. Weekend closed at 8 3/16 81/18 per cent and week-fixed at 9% 8% per cent Asian dollar CD rates held unchanged at weaker opening levels in quiet afternoon trading. Mtealse Vie average of228 words
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Article40 1987-02-14 5 RESULTS OF TENDER held yesterday for 91-day bills to be issued from Feb 16 to Feb 20: Offered: $200,000,000 Applied for $606,660,000 Allotted: $200,000,000 Accepted Mds: $99.59 and higher bids. Average rale of dlecounf on allotment 1.605% p.a40 words
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Article116 1987-02-14 5 THE OVERNIGHT rate on the Singapore interbank market closed at 314 per cent yesterday. The one-month term rate was unchanged while two- and three-month term rates each ended 1/16 point higher. S$ Interbank rates at 7pm yesterday: Offer M Owntgh» 3 1/4 3 1 -month 3 J/16 3116 words
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650 1987-02-14 5 AFP MAINLAND CHINESE borrowers will probably pay more for international loans in the future, but demand for Chinese debt is still strong among banks and investors, according to foreign bankers in Hongkong. Most bankers say that short-term political uncertainties have had little impact onAFP - 650 words
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121 1987-02-14 5 NYT AMERICA'S biggest commercial banking companies were plagued in the fourth quarter of last year by continued weakness in lending, a decline in invest-ment-banking income and a disturbingly high level of special items. The year was one of the harshest for the banks sinceNYT - 121 words
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311 1987-02-14 5 SOH TIANG KENG - By SOH TIANG KENG, Financial Correspondent BANK LENDING to general commerce continued to show brisk expansion, with a third consecutive increase in November last year. The increases reflect improvement in Singapore's trading activities, according to the Monetary Authority of Singapore in the latest311 words
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Page 5 Advertisements
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Advertisement67 1987-02-14 5 IF YOU WANT TO KNOW UT B»S n J -4 HI Af* ifP mm a fi V si K 01 a i** sss a A/hat do peopfe-m business nope wilfpop-ouJ in th« j J Howahs^irigaporedevelopec§faring in me Ignd it?/ farina ii a^qbillion What goes into the making-of th 6 successful67 words
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INTERNATIONAL STOCKS
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577 1987-02-14 6 Reuter US ATTORNEY Rudolph Giuliani has said that an insider trading scheme by three Wall Street professionals charged on Thursday led to profits for Kidder Peabody and Co's arbitrage account. Mr Giuliani also said an unidentified employee of Kidder Peabody, who plans to pleadReuter - 577 words
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391 1987-02-14 6 Reuter WALL STREET stock prices closed lower on Thursday. The catalyst for the decline was an announcement at midday that arbitraguers from investment firms Goldman Sachs and Co and Kidder Peabody and Co were arrested on insider trading related charges, traders said.Reuter - 391 words
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Article127 1987-02-14 6 FU 12 Ct Imp Oil CI A 58% 19% Abittbi 36% Int Prov Pip# lu intl 45% 22% A lean Alum 49 1% 19% Algoma Stl 10% Lobltw Co 12% Bank Nova Scotia Bank Of Montreal 20% 37% McMil BkJI ....80 25% urtch Bell Canada 4014 32% Bp Resources127 words
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Article160 1987-02-14 6 PU 12 Moun RANO "RIALS Trust Bk Un Staal Woottru 150 sa 1425 5 unch 25 A Alpha Abarcom 1400 unch MMMQI Aaci 10 Anglos 5975 25 AMIC Angvaal uncf Barlows 1960 unch C G Smith 3450 CNA 320 Curria Financa 650 -40 Cons Murch 1165 FaSvolk 225 unch160 words
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Article555 1987-02-14 6 FES 11 US t b A lean Alumin Alcoa 36* 43 Alleg Intl 15% Allied Sig 44* Allied Stores Ailis-Chalmers Am Brandt Inc. 3* .1 ioo 66* Am Elec Pwr 29% 68 V Am Horn* Prod Am Motors Cp 62* 3* Amax Inc 17 Amerada Haaa Amoco Corp555 words
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Article684 1987-02-14 6 Amsterdam KB 11 Rl ABN 513 00 *45 Aaoon AhoM 81 60 102 30 *1.5 *03 Akzo 132.00 *1 Alranta AMEV Amro Bank Am Stad 142.00 66 00 86 00 126.00 -03 *0.5 *0.3 *0 9 Barfcal BOLS 16 80 is«sa -0.4 *25 Boraumij 141 Bwahrman Tattaroda 5100684 words
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Article113 1987-02-14 6 Reuter THE BRITISH government has confirmed It plans to privatise British Airports Authority PLC this summer, and said it will encourage the company's 7,000 employees to participate in the sale of BAA shares. Transport Minister John Moore told Parliament in a written answer that "mostReuter - 113 words
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Page 6 Advertisements
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Advertisement518 1987-02-14 6 Wimv to wim, «iim and entertain 4( K A gourmet dinner in the romantic ambience of the BARON'S TABLE, with music by the Los Troubadours. Every patron will receive a glass of Laurent Pierrier champagne, with a long-stemmed rose and a chocolate heart for the lady. All these for only518 words
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Advertisement122 1987-02-14 6 London rtocti on Pago 15 II II That's how we count at The Lounge during our Happy Hours from 5 pm to 7 pm daily When a guest has had two similar drinks, the third is free And every night at 8 pm except Sundays. The Melody tend from the122 words
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ASIAN STOCKS
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Article368 1987-02-14 7 HONGKONG: Share prices closed with pared losses yesterday on late buying by UK-based fund managers, after opening lower on institutional profit-taking. The Hang Seng Index ended off 14.23 at 2,740.49 after losing almost SO points at one stage. The Hong Kong Index was 8.37 lower at 1,752.16. Turnover was368 words
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Article236 1987-02-14 7 PU 1S AM Sinc«r« Indus Aiii CIMML... NT t 2.64 31 50 -0.13 -0.6 Koiln Kuochan Oav Laa Chang Yuan 27 60 ..26.00 -0.7 -0.8 C«thay Com OticoQ Hwt Btftk Ctttng Loong .40.30 50.50 30 50 -1.1 -2 -1.1 U«n Hwa Indua. Nan Ya Ptaa... 21.70 37 30 -0.2236 words
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Article458 1987-02-14 7 TOKYO: Prices yesterday lost most of their gains made earlier in the week in a late-session sell-off triggered by a slump in the share price of Nippon Telegraph and Telephone (NTT), brokers said. A wave of profit-taking in the final hour of trade sent the index sharply lower. The458 words
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Article85 1987-02-14 7 pea 11 i Oriental B 0 03 •0.001 Acoja Mining 0.015 0014 Phil Ownm Phi lax B 0 0625 unch Anglo Phil 0 006 unch Picoo B Apax Mining B 0.006 -0.066 Atlaa Con. B 17 0.25 Btgulo GoM 0.006 unch San MJgutf B 129 3 Basic Patroiaum 0.01685 words
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Article382 1987-02-14 7 SYDNEY: Australian share markets closed at record levels yesterday on strong demand for leading industrials, particularly media stocks. which offset an overnight fall in gold and oil prices. At the close of trading the All Ordinaries Index was a record 1,575.8, 1.0 points higher than Thursday's record while the382 words
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Article118 1987-02-14 7 FH 13 WON Kai 1279 70 ***** +300 Chat l Sugar 2700 -50 Kla Motor 1020 000 +00 Koton bid 3751 Oaa»oo Corp 945 1330 00 00 Koraa Long Torm.. Lucky Ud 2200 1500 100 50 DoJaNn Socurtttaa.... Dong Alt Pftar 3200 ***** •100 400 Ortontol Browory... Orlantal Cham118 words
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Article139 1987-02-14 7 Reuter BANGKOK: The Stock Exchange of Thailand Index was down 0.66 to 205.37 on a turnover of 1,591,121 shares worth 180.25 million baht. Fca is Ao Kham Thai Ayudhya Irtvaatmai Bangkok Agro-ind BAMT tt 246 ....73 2S3 163 ra •4 unch Saha Union.. Slam Camant. Slam City Camant SlamReuter - 139 words
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Article66 1987-02-14 7 AFF HONGKONG'S Shsngri-Ls Hotel is to invest US$4B million to build and run a 850-room luxury hotel in Seoul in s joint venture with South Kores's Yurin Tourist Company. The 38-etorey Shangri-La International Korea Hotel will be built at a cost of US$l57 million, sccording toAFF - 66 words
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272 1987-02-14 7 Reuter TOYOTA MOTOR Corp, Japan's largest carmakar, has suddenly reached a limit after years of huge profits on worldwide sales of cars. The carmaker said on Thursday that its net profits for the first half of its business year to Dec 31, tumbled toReuter - 272 words
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193 1987-02-14 7 Reuter MERRILL LYNCH Co Inc will play a mora active role in Hongkong financial markets following the sale of its 25 per cent stake in Sun Hung Kai Co Ltd, according to chief financial offioer K C Kwan. HeReuter - 193 words
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Article136 1987-02-14 7 Reuter GUANGDONG Enterprise* (Holdings) Ltd, which It owned by the Guangdong provintial government, has acquired en Indirect interest in publicly-listed Hongkong firm Union Globe Development Ltd. Guangdong Enterprises, through its wholly owned Wines 11 Investment Ltd subsidiary, bought an 80 per cent stake In UnionReuter - 136 words
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179 1987-02-14 7 Reuter THE PORTION optn to the public of Siam City Bank Ltd'» new issue of shares was mors than twios oversubsorlbsd on the first day. Bank sxscutivss said ths tank would accept applications for ths 106 million five-beht par ordinary sharss until Fab 18.Reuter - 179 words
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84 1987-02-14 7 Reuter LAI SUN Garment Co Ltd will raise HK5211.2 million by placing 3.3 million new shares at US$64 each through broker* Vickers Da Costa Hongkong Ltd and Sun Hung Kai Securities Ltd. The issue will be underwritten by Citicorp International Ltd and Sun Hung KaiReuter - 84 words
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Article51 1987-02-14 7 AFP THE FRENCH company CIT-Alcatel is chaaing a multi-million-dollar contract with Indoneeia to upgrade its telephone system. A representative of the comp* ny said the contract included,among other things, the installation of 240,000 new lines on outlying islande. Japaneee, European and US companies are also in the running.AFP - 51 words
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Page 7 Advertisements
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Advertisement583 1987-02-14 7 all ii Wimn to wlae, and entertain Start ofA New Experience Kinta-Mani Delightful Indonesian meals! Our specialties include Charcoal Grilled Seafood, Gado Cado. 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 |ust583 words
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Advertisement104 1987-02-14 7 IRRESISTIBLE OFFERS! Buy one drink and get one FREE 40% OFF all Premium brands and bottle rates Extended Happy Hour 1 2 noon Bpm Entertainment by 2 top bands nightly (6pm 2am*) flrnwcnons A popular show band from the Philippines Sinoaoor.'. ChchtVld moat popular band t&euietMVtd (CAIRNHILL HOTEL) 19 Ceirnhill104 words
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FEATURES
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Article593 1987-02-14 8 LOVE must be one of the strangest things on earth. It is the combination of the most intractable of opposites. Love is a reaching out from the self, but in most cases it is a very selfish reaching-out, merely reinforcing selfishness through possessiveness. Love is a593 words
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Article, Illustration802 1987-02-14 8 PHIL DAVISON - By PHIL DAVISON Reuter THE DOMINICAN REPUBLIC is gearing up for a big 500 th anniversary celebration to mark a date that changed the world. Santo Domingo, the site of the first European colony in theReuter - 802 words
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102 1987-02-14 8 D W Distant - inren to the Editor D W Distant Dear Sir, Increasingly, publishers are finding the economies of having their foreign newspapers printed in Singapore for distribution in this part of the world, using electronic means to transmit the newspaper contents from their home bases. The102 words
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210 1987-02-14 8 A G KHAN - A G KHAN Booragoon, W Australia Dear Sir, I have been a subscriber of the Business Times for a number of years. I get the paper air-mailed to me via The Overseas Courier Service. Currently, I subscribe to the Monday edition of the paper. My210 words
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Article802 1987-02-14 8 DAVID W JONES - By DAVID W JONES UPI A RECENT DAY-CRUISE for 40 travel promoters in Hongkong was disrupted when a two-masted brigantine drew up to their vessel and dozens of cut-throat pirates leaped aboard, brandishing plastic cutlasses and carrying off all the women. The group was later reunitedUPI - 802 words
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Page 8 Miscellaneous
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Miscellaneous805 1987-02-14 8 mwMmmmmiib CRYPTIC PUZZLE ACROSS 9 A word of warning spoken to the previous one (9) 10 For the major question, have the mother in and the children (4, 5) 12 A seat in class (4) 13 Get a kick, or smack (6) 14 Somehow tether, with the ring to that805 words
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Executive Lifestyle
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Article396 1987-02-14 9 SHARE PRICES are rising but stock market players may also be seeking their fortunes elsewhere. On Thursday, the ST Index broke the 1,000 point barrier, having risen 19.87 points that day. Investors and speculators alike could not have missed noticing that the rise was a "hot"396 words
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Article256 1987-02-14 9 TRENDS SOME pod-Big Bang Londoners now got up at tho crack of dawn to "powar hrsshfait". throw bsaoball mtlaphnu during bualneaa converastiona and pump iron In crowdad gyma at tha and of incroaalngly long daya. Thoaa ara some of tha llfaatyta changee that256 words
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Article, Illustration1001 1987-02-14 9 John Curran - John Curran THE INTERNATIONALISATION of the world's equity markets has been accompanied by fundamental changes in the organisation and regulation of those markets. But the most publicised result has been global insider trading, or at least (should we be surprised?) the discovery of it. Insider trading1,001 words
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Article, Illustration1278 1987-02-14 9 MONICA GWEE - By MONICA GWEE "NO. NEVER." said the usually intrepid man-about-town. "I never kiaa and tell," he insisted. "Well, only sometimes," he admitted reluctantly, "but I never mention names." Namea mattered least as Executive Lifestyle, in the spirit of Saint Valentine's Day, attempted to get men and women to1,278 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration915 1987-02-14 10 KOH SEOW TEE - COLLECTING By KOH SEOW TEE ALMOST EVERY collectible item appreciates in value with the passing of time. But violin collectors often consider themselves in a class of their own. It is a unique hobby. After all, not every collector can play and enjoy915 words
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Article, Illustration919 1987-02-14 10 RICHARD SEAH - HEALTH By RICHARD SEAH THE "fried kuay teow controversy" continued with one colleague asking: "Then what else is there to eat at hawker centres?" and another declaring, with some disgust: "You can eat all those healthy foods because you have a wife to prepare919 words
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Executive Lifestyle: Entertainment, the Arts & Pursuits
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Article, Illustration1930 1987-02-14 11 CINEMA Singapore's first international film festival begins next Friday. To help answer the inevitable question of which films to watch, Lifestyle reviews a handful of the "best". Watch out for more reviews next Saturday. SCREENWRITER Robert Bolt's latest effort at historical melodrama has its heart,1,930 words
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Article816 1987-02-14 11 CINEMA: Tal-Pan Byran Brown, John Stanton, Joan Chen. Showing at Cathay: 10.30; 1.15; 4; 6.45; 9.30. Hell Camp. starring Tom Skerritt, Lisa Eichhorn, Anthony Zerbe, Richard Roundtree. Showing at Capitol: 11; 1.45; 4; 6.30; 9.15, Jurong: 1.30; 3.30; 7; 9 and Kreta Ayer People's: 1; 3.30; 7; 9. The816 words
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Article, Illustration922 1987-02-14 11 ZHOU MEI - ART By ZHOU MEI LIFE HAS BECOME rather hectic for septuagenarian Huang Pao Fang. This year, a full 49 years since he arrived in Singapore, the left-handed 75-year-old artist is having his first solo exhibition in Singapore. L His first one-man exhibition I was held just922 words
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Article, Illustration656 1987-02-14 11 JAIME LYE - VALENTINES By JAIME LYE 'TIS THE TIME to be mushy, when past actions become condensed in 16-line verses to explain one's inability to express one's love; when the self-pro-fessed unromantic digs deep into his creative reserves and spouts lyrical literals et al to his beloved Bungga of656 words
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Article450 1987-02-14 11 FOR ONCE, the Marco Polo Hotel carpark will not be filled with cars. Instead, 20-odd stalls offering satay, mee siam, laksa and smoked duck as well as food from Italy, North India, Mexico, France, Vietnam and other countries will be on sale today. The event The 4th International450 words
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Executive Lifestyle: Sports
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666 1987-02-14 12 Brian Miller - TMCK f with Brian Miller with Brian Miller THERE WILL BE no stopping Slick Trick when he lines up for the opening event at Bukit Timah this afternoon and, going strictly on the form he is in right now, I will have him666 words
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Article, Illustration492 1987-02-14 12 GOLF AP, UPI GREG NORMAN, after shooting a five-under-par 68 for a share of the first-round lead on Thursday in the A 5200,000 Australian Masters golf championship, went right hack to the practice tee. Norman worked on hla driving and putting for two hoursAP,; UPI - 492 words
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193 1987-02-14 12 AP CHI CHI RODRIGUEZ shot a two-under-par 70 on Thursday to take the first-round lead ig the U*****,000 Professional Golf Association seniors championship. Rodriguez, a three-time winner in 1986, his first full season on the senior PGA tour, was one stroke ahead ofAP - 193 words
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Article, Illustration839 1987-02-14 12 BOXING UPI JAMES "BONECRUSHER" SMITH, the pride of Magnolia, North Carolina, will soon receive a chance to stretch his fame over the rest of the world. Smith, the World Boxing Association heavyweight champ, is one of three boxers who can become the undisputedUPI - 839 words
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260 1987-02-14 12 WALTON MORAIS - By WALTON MORAIS WITH A birdie and a bogey, Poh Ee Kiat stormed to a five-stroke lead at the halfway stage of the Singapore Golf Association 72hole monthly championahip at the New course yesterday. The Putra Cupper continued to surprise after recent260 words
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213 1987-02-14 12 TENNIS AP JOHAN KRIEK followed a blistering serve to a 7-5, 6-4 victory on Thursday night over fifth-seeded John McEnroe in the third round of the US Indoor tennis championships. "Things just don't seem to be going my way recently," McEnroe said. Kriek, theAP - 213 words
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309 1987-02-14 12 MARATHON WITH A SPONSORSHIP of at least $160,000, this year's Mobil Marathon will not simply be a one-off, 42-km affair. Having doubled the sponsorship compared with 1965's inaugural event Mobil has planned a comprehensive 10-month programme of clinics, mini-runs and talks as a lead-in to309 words
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181 1987-02-14 12 AP THE EFFORTS of the International Olympic Committee to make sure that North Korea comes to the 1988 summer games are moving into a new round of meetings and a new phase of diplomacy. lOC preeient Juan Antonio Samaranch said on Thursday that theAP - 181 words
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Article, Illustration655 1987-02-14 12 MIKE THUMBA - BRIDGE By MIKE THUMBA The Play by the Opening Leader's Partners. An Ear le toe Bidding Some expert writers think that the opening lead by the defenders is nothing more than "a short in the dark" and at best it is more655 words
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Executive Lifestyle: Personal Investment
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656 1987-02-14 13 RAMESH CHANDIRAMANI - SINGAPORE AND MALA YSIAN EQUITIES By RAMESH CHANDIRAMANI SUSTAINED economic expan- pects for Promet Bhd which is sion, amid signs of a broadening negotiating a capital restructurout of the recovery process, ing with its bankers; the tie-up makes three656 words
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Article, Illustration411 1987-02-14 13 By RC AVID READERS of Chart Point know that this column is all about spotting market trends before these become news. And it is in keeping with that 'theme that I must sound a warning bell: the equities market is very close to settingBy RC - 411 words
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377 1987-02-14 13 THE STOCK MARKET made some impressive gains this week, rewarding not only investors who dabbled, but also the dealers and remisiers who bet correctly on whether the Straits Times Industrial Index would break the 1,000-mark by Chap Goh Mei (Thursday). However, for those who377 words
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872 1987-02-14 13 ART Interest in the art market from increasingly diverse sources has been growing rapidly over the past tew years. To keep readers informed, Business Times will be carrying regular coverage of the art market, examining its weekly performance and taking into account872 words
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Article1032 1987-02-14 13 mm By RC LAST WEEK. Personal Investment made a case for casting an investment eye across the Causeway into the realm of Malaysian equities. Investors contemplating such a move will soon have an opportunity to buy into a stock with outstanding prospects: Malaysian International Shipping Corporation,By RC - 1,032 words
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391 1987-02-14 13 STRATEGIES NYT INVESTORS with a penchant for taking market risks have always been able to sell individual stocks short but soon they will be able to try their hand at shorting a mutual fund. This latest wrinkle in the funds managementNYT - 391 words
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Page 9 Advertisements
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Advertisement59 1987-02-14 9 The Hour Glass Singapore's premier watch boutique with the largest range of watches in 5 convenient: locations When you shop at The Hour Glass you shop with confidence. You're assured of the absolute authenticity of every timepiece you buy, of professional advice, competitive prices, international guarantees and after-sales care. I59 words
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Page 10 Miscellaneous
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Miscellaneous2505 1987-02-14 10 Cagney, Caravans and Wilder TOOAY: Bpm knage (10.30 pm, Channel 5) ia one of the many movies made about religious cults a fashionable movie theme in the early 1960s after the hullaballoo over so-called brainwashing practised by the infamous Moonie and Hare Krishna type cults. Michael O'Keefe and Karen Allen2,505 words
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Page 13 Advertisements
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Advertisement27 1987-02-14 13 BT welcomes investment ideas and viewpoints from brokers, bankers and readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, S'pore 0923.27 words
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SHARE INFORMATION
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Article, Illustration4255 1987-02-14 14 SHARE PRICES rose for the fifth consecutive day yesterday with gains made across the board. The Straits Times Industrial Index edged up a further 3.54 points to 1016.52, but the broad-based Business Times Composite Index registered a marginal fall of 0.67 point to 903.79.4,255 words
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Article257 1987-02-14 14 SINGAPORE Rites Indlcss Fob 12 Fob 13 M Loong Crodk 304 56 •T Canipoabo ***** 903^9 AA A A 310 32 IT Indkotor ******11 *****24* D Koran at S30 >30 IT Ot/OS +405 3>2 s r tmi ■o 175 +25 •TCAO -64*9 -6445 0 s 1060 +20257 words
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Article4201 1987-02-14 14 810 and 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. All Time Settlement Contracts are quoted after the word 'SETT.4,201 words
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Article48 1987-02-14 14 THE AVER MOLEK RUBBER COMPANY Berhad72nd AGM at No 22 (Upper floor of No 20). Jalan Hang Jebat, ***** Malacca, on Monday, Feb 23 at 10 30am. DUFF Bertiad: 14th AQM at No.21 23, Jalan Huaaein ***** Ipoh Perak. Malaysia on Monday, Feb 23 at 11am.48 words
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COMPANY NEWS
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Article, Illustration599 1987-02-14 15 NAJEEB JARHOM - By NAJEEB JARHOM THE STOCK EXCHANGE of Singapore has outlined five major projects for this year, of which the introduction of negotiated commissions is being given top priority. This is because the Monetary Authority of Singapore, which now oversees the securities599 words
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185 1987-02-14 15 MONSIA INVESTMENTS Pte Ltd has reduced its stake in Seaiion Hotels Ltd following the sale of an additional three million shares in the cash-rich company early this week. Seaiion said that Monsia, the investment company of Malaysian businessman Datuk Y S Yap, had185 words
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Article, Illustration1074 1987-02-14 15 AMY CHEOK - Simbl completes major review of financial position By AMY CHEOK DIRECTORS of Ambassador Holdings Ltd have, with the help of a merchant bank, completed a major review of its operations and assessment of its financial position and are of the opinion that the company1,074 words
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Article3150 1987-02-14 15 BID and offer prices <rfnn«iiy listed sad Inlaai in and reported to the Kuala Lumpur Stock Exchange yesterday, wttfc the nomber of riiares traded dvwn in brackets in lots of unless otherwise INDUSTRIALS Acmo 1t758) Alcom (798) 01 80 191 79 AISB (728 (21) 703,150 words
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Article817 1987-02-14 15 LONDON share prices were marked lower in early dealings yesterday but had recovered by noon. The retreat on Wall Street after the arrest of three New York market dealers made London investors nervous of further insider scandal revelations and added to the weaker tone. But dealers said trading817 words
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Article112 1987-02-14 15 HONGKONG Hongkong Index Friday 1752 16 Thursday *****3 Week ogo 1713 37 Hang Song Index Friday *****9 Thursday 2754 72* Week ogo 2673 57 All Industrials Friday ****** Thursday ***** Week ogo ***** NEW YORK Dow Jones Thursday *****8 Wednesday *****6 Week ogo 2201 49 TOKYO Nikkei Average112 words
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283 1987-02-14 15 SHARE PRICES gained further ground at the Kuala Lumpur stock market yesterday, thanks to late buying support The continued bullish sentiment saw fairly widespread double-digit gains recorded. Blue chips posted the largest gains of the day. Interest was rotational and new counters were brought283 words
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Article237 1987-02-14 15 Manogers' prices MARA-Bumiputra foe Feb 14 16 First 6'putro 567 592 Singapore Unit Trust Socond 6'putro 526 533 Third 6'putro 4 18 422 Th* Co<M*rc* 1 00 106 Fourth 6'putro Fifth 6'putro Sixth 6'putro S*«*nth 6'putro (A) s*v*nth 6'putro 16) Eighth 6'putro Ninth 6'putro 476 314 461 3237 words
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Page 15 Advertisements
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Advertisement211 1987-02-14 15 NOTICES OFFICIAL NOTICE PROPOSAL TO CHANGE OF SHIP'S NAME We, Samta Tankers Pte. Ltd., hereby rive notice that In consequence of oar Purchase a motor ship 'Kyosekl Mara No: 3' of Panama Flag. We have applied to the Registrar of Singapore Ships, nnder Bectlon 417 of the Merchant Shipping Act211 words
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Advertisement308 1987-02-14 15 IN THE MATTES OF THK COMPANIES ACT, CAP. ISB SUN RULES TRADING (PTE.) LTD. (In Voluntary Liquidation) At an Extraordinary General Meeting of the members of SUN RULER TRADING (PTE.) LTD. duly convened and held at 21 Fan Yoqng Road, Singapore 2382 on the 9 day of February 1987, the308 words
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Article, Illustration477 1987-02-14 16 CHUANG PECK MING - By CHUANG PECK MING IN A MOVE that will thrust government back-benchers to the political forefront, nine parliamentary committees have been formed to give them more direct say in shaping policies. As members of these committees, the back-benchers will study all Bills after their477 words
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549 1987-02-14 16 THE SINGAPORE GOVERNMENT has told American newspapers and transnational companies to mind their own business in a growing furore over its action to restrict the sales of the Asian Wall Street Journal. in reply to strong criticisms from the US press,549 words
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237 1987-02-14 16 A TOTAL OF 13 negotiating groups has just been formed under the Uruguay Round of multilateral trade negotiations (MTN) of the General Agreement on Tariffs and Trade (Gatt). One of these is the Negotiating Group on Tropical Products. As reported by BT237 words
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Article82 1987-02-14 16 Reuter PRESIDENT Corazon Aquino, who gave her army the go-ahead on Wednesday to resume war with communist rebels, is still open to peace talks. Government officials said yesterday that Mrs Aquino's order to resume military operations was not a hard-line policy but "a reversionReuter - 82 words
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463 1987-02-14 16 BOEY KIT YIN - By BOEY KIT YIN A MALAYSIAN High Commission official is expected to meet some Singapore officials to discuss the issue of Malaysian-made electrical products not being tested by the Singapore Institute of Standards and Industrial Research (Sisir). Sisir's stamp, if given, would certify that463 words
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Article87 1987-02-14 16 Reuter COMEX GOLD FUTURES edged up on bargain-hunting demand yesterday on top of Thursday's lows for the year but margin call liquidation and pre-long-week-end considerations limited the market's upside potential. The pace-setting April delivery tacked on US$O.5O at U*****.80 an ounce, with specu- lators shopping forReuter - 87 words
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Article67 1987-02-14 16 Reuter WALL STREET stocks were mixed in early trading yesterday. A decline in Texaco after Thursday's Texas court ruling pushed the stock down sharply and hurt blue chips. The latest insider trading scandal continued to create nervousness in the market. The Dow Jones Industrial Average fell fourReuter - 67 words
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LATE FILE
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Article34 1987-02-14 16 AP THE TELEPHONE Organisation of Thailand has commissioned eight business groups, including five Japanese joint ventures, to more than double the size of the country's existing telephone network. APAP - 34 words
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Article29 1987-02-14 16 Reuter EUROPEAN COMMUNITY budget ministers yesterday agreed to boost its 1967 draft budget by 4.7 million European Currency Units to 36.7 billion ECUs.— ReuterReuter - 29 words
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Article26 1987-02-14 16 AFP SOUTH KOREA is to set aside US$7O million by April to assist South Korean firms participating in development projects overseas. AFPAFP - 26 words
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Article33 1987-02-14 16 Bernama THE MALAYSIAN Motor Traders Association yesterday appealed to the government to review the existing tax on the motor industry to bring down prices of new cars.Bernama - 33 words
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Article48 1987-02-14 16 Reuter NIPPON STEEL Corporation, the world's largest steel manufacturer, yesterday announced that it will cut annual production capacity of 34 million tonnes by 10 million tonnes and almost halve its workforce to cope with effects brought on by the rising yen. ReuterReuter - 48 words
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Article41 1987-02-14 16 Bernama THE KL High Court yesterday dismissed former managing director of Malaysian Overseas Investment Corporation Abdullah Ang's appeal for a stay of execution of an order directing him to pay Ms2.B million to Pertis Plantations Berhad. BemamaBernama - 41 words
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Article36 1987-02-14 16 Reuter A SOVIET scientist, A Dorodnitsin, said yesterday the proposed US Strategic Defence Initiative project would leave the Soviet Union vulnerable to nuclear attack unless it developed a new defence system. ReuterReuter - 36 words
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Page 16 Advertisements
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Advertisement482 1987-02-14 16 $?:}}(<'${)+@|@`/<_&.~_(<|[,=;= >NS LTD times Consultants Pty Ltd Tcries Enterprises (Ausir a) PI L uttman inc Kabushiki Katsha Un»on Enterprises Marsha?! Cav .-;ji< Be > Cavendish Services Ltd Sammeiwerk Redaktions service GMB 0 s Lfd United Publishers Services tHK) 1 .td United Pub r? a AFORE NEWSPAPER SERVICES PTE LTD Times482 words
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Page 16 Miscellaneous
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Miscellaneous12 1987-02-14 16 mMm Report lor 24 hours 7.30pm on Fab IS at port E12 words
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