The Business Times, 19 September 1987
1987-09-19
1
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The Business Times
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Title Section12 1987-09-19 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, September 19-20 1987 75 CENTS12 words
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Article, Illustration196 1987-09-19 1 Overseas markets FrWoy HK Hang Seng Index 3649.96 78.60 Tokyo Nikkei Average *****.84 (-10.47 Sydney All-Ordinaries 2305.5 21.5) Thursday New York (Dow Jones) 2527.90 (-2.29 London (FT 30 Index) 1812.0 21.8) Exchange rates THE Singapore dollar yesterday closed higher at $2.0875/85 ($2.0915/25) against the US$ in the196 words
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352 1987-09-19 1 LOH HUI YIN - By LOH HUI YIN THE MINISTRY of Foreign Affairs is looking around for suitable candidates to fill a handful of key diplomatic posts. BT understands that besides tapping its pool of career diplomats, the search is extended to the private sector as352 words
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Article, Illustration386 1987-09-19 1 SELLERS dominated in light trading yesterday as the market fell for the fourth day running. The Straits Times Industrial Index dropped 21.26 points to 1,393.34 while the BT Composite Index slid 19.99 points to 1,233.80. Turnover increased slightly to 21.75 million shares386 words
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614 1987-09-19 1 BOEY KIT YIN - 25pc of quotas to be put up for bidding By BOEY KIT YIN THE STORM over a proposed change in the textile quota allocation system to a tender scheme blew over yesterday as industry representatives agreed to the implementation of a new system soon.614 words
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366 1987-09-19 1 Reuter THE US ECONOMY expanded at an annual rate of 2.5 per cent in the April-June quarter, slightly faster than previously thought, the Commerce Department reported yesterday. The department reported last month that Gross National Product had risen at an annualReuter - 366 words
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114 1987-09-19 1 Bernama KOPERASI Pembangunan Pemuda Malaysia Bhd (Komuda) was yesterday allowed by Kuala Lumpur High Court's Senior Assistant Registrar to serve a writ for Msl.2 million against former Malaysian Chinese Association president Tan Koon Swan in Singapore. Senior Assistant Registrar Harmindar Singh DhaliwalBernama - 114 words
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158 1987-09-19 1 Reuter NEW YORK-BASED Chemical Bank will close its representative offices in Jakarta, Bangkok and Kuala Lumpur as part of a worldwide consolidation. "This is part of a 10 per cent cutback that includes the US," said Jakarta chief representative Kai Chin.Reuter - 158 words
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Page 1 Advertisements
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Advertisement243 1987-09-19 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM &"`*($!_,/%%|^^+(;^&,,@_%@/()}< m THE BOOM in ftve air cargo industry has led to a rush for space in the third cargo agents building being built at Changi by the Civil Aviation Authority of Singapore. HOME NEWS, Page 2 THE MALAYSIAN government is faced with the243 words
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Advertisement9 1987-09-19 1 Japan's economic growth slow* but rebound expected, Back Page9 words
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Advertisement154 1987-09-19 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM I If Kiwis could fly Page 9 PiriiMl Trivia To all the girls who've worked to the top Page Lipoproteins: chariots of cholesterol Page 10 TV programmes for today and tomorrow Page 10 SMs to Mated Days of Heaven and the Tony Awards Page154 words
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HOME NEWS
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Article, Illustration446 1987-09-19 2 LIM SOON NEO - Building to be ready in two months By LIM SOON NEO THE BOOM in the air cargo industry has led to a rush for space in the third cargo agents building being built at Changi by the Civil Aviation Authority of Singapore (CAAS).446 words
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195 1987-09-19 2 THE DIRECTOR of the Corrupt Practices Investigation Bureau has confirmed that the Teh family had no bank accounts other than those revealed during the recent inquiry. CPIB director Evan Yeo told the secretary of the Commission of Inquiry into the195 words
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Article220 1987-09-19 2 METAL shipments through Singapore will receive a further boost when the London Metal Exchange moves a wider range through the port next year. The LME, which appointed Singapore as delivery port for high-grade primary aluminium in June, has extended the list to lead, zinc, copper and220 words
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Article, Illustration228 1987-09-19 2 HIROMITSU SUZUKI is now the managing director of ANA Hotels Singapore Limited. Mr Suzuki, 42, was formerly deputy general manager of the international department of ANA Enterprises Ltd. In his new role, he will be responsible for the overall management of the Century Park Sheraton Singapore. Mr228 words
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Article, Illustration439 1987-09-19 2 THE SINGAPORE $1 note will eventually be withdrawn if the public response to a new dollar coin is positive. The Board of Commissioners of Currency Singapore is in fact confident the new dollar coin, to be issued from Sep 28, will439 words
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449 1987-09-19 2 LILIAN ANG - By LILIAN ANG CARRIER SINGAPORE, a household name in airconditioners, has acquired a $5 million piece of property in Jurong. The property, less than half the size of Carrier's current premises, will serve as the new headquarters for the company's operations here. The two-storey449 words
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Article150 1987-09-19 2 THE Singapore Institute of Standards and Industrial Research (Sisir) and Resource of UK have signed a memorandum of understanding on technical cooperation in London. The technical assistance will take the form of trainining attachments in the UK and consultancy missions to Singapore. The officials150 words
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Article1077 1987-09-19 2 AT CONVENTIONAL WHARVES VMM! Bmtt i Arrival Departure KEPPEL WHARVES Cr'se Muhibah/P K27 alongside 1909/0700 Huoqiong K2I alongside 2209/0600 Koheng Kl? alongside 2109/2300 Koto Akbor K3I alongside 2309/0600 Kris Moduro K25E alongside 19 09/1300 Pioneer Wove KI6 alongside 1909/0600 Rojoh Brooke K24E alongside 2009/1830 Wuyishon K29 alongside1,077 words
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Page 2 Advertisements
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Advertisement8 1987-09-19 2 Prompt pick-up and delivery 24 hours a day8 words
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Page 2 Miscellaneous
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Miscellaneous90 1987-09-19 2 City Max/ Adelaide Amsterdam Bahrain Bangkok Barbodos Singapore OUTLOOK: Huy. Report for 24 howrt prior to 7.30pm on Sop 16 off RahqfdayiNm*. I Now DoN N»w York U«bon 33/20 Oeor London 19/14 Sunny lot Angelei 24/18 Cloudy Madrid 35/20 Clear MonMa 31/24 Sunny Melbourne 24/09 Fine Mexico City 26/12 Clear90 words
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OVERSEAS
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371 1987-09-19 3 Reuter ATTEMPTS by European Community budget ministers to agree on a financing plan for next year broke down without agreement yesterday, diplomats said. They said 20 hours of virtually non-stop negotiations had failed to narrow differences over how much theReuter - 371 words
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Article884 1987-09-19 3 ARRIVALS Operator Sorvic* Local From number tkn* SU SQ11 0045 LAX/NUT UA UA805 0045 SFO/HKG MAS MH621 0140 KUL CAL Q333 0405 TP€ SU SQ41 0615 MAA MK MK746 0730 MRU SU SQ41I 0820 BOM MAS MH681 0820 KUL SV SV398 0835 JED/RUH KAL KE624 0840 KUL884 words
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190 1987-09-19 3 Reuter BERYL Sprinkel has submitted his resignation to President Reagan as chairman of the president's Council of Economic Advisers effective at the end of November, an administration official said on Thursday. Mr Sprinkel cited personal reasons for the resignation, the official said. US officialsReuter - 190 words
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457 1987-09-19 3 Bernama ES THE MALAYSIAN government is faced with the most difficult task of balancing two objectives for the medium term: rectifying both internal and external imbalances and achieving long-term economic growth, particularly through the expansion of exportoriented manufacturing. In its 1967 annualBernama ES - 457 words
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Article73 1987-09-19 3 Reuter A US STATE DEPARTMENT official told congress on Thursday that South Korea has made significant progress towards democracy but a great deal of work must still be done. William Clark Jr, Acting Assistant Secretary of State for East Asian and Pacific Affairs, said South KoreaReuter - 73 words
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149 1987-09-19 3 UPI IT WOULD TAKE Indonesia more than 40 years to build a tunnel connecting the islands of Java and Sumatra, an official said in Jakarta on Thursday. Wardiman Djojonegoro of the Agency for Research and Technology said that usingUPI - 149 words
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360 1987-09-19 3 SHIRISH NADKARNI - By SHIRISH NADKARNI in Bombay ONE OF the strangest anomalies of a country's central bank is that the higher the level of deficit financing, the more prosperous will be the bank. And the fact that India's budgetary deficit for the financial year 1967-88 may360 words
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262 1987-09-19 3 AP THE AUSTRALIAN Secretary of Aboriginal Affairs said on Thursday that a crisis in race relations is brewing as Australia prepares for next year's celebration marking 200 years of European settlement. "The next six months, in my opinion, are the most criticalAP - 262 words
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Page 3 Advertisements
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Advertisement60 1987-09-19 3 fT| JM J W IJI 1£ The business person's choice, every I I II 111 I Tuesday, Thursday, Saturday and II f I 1 II \l I 1 I Sunday. Leaving Changi Airport at 1 JL 22:05 hours and arriving at Lester B: Pearson International Airport the following day Call60 words
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Advertisement71 1987-09-19 3 t F J y V* 3* r > >». 5* D -V A s •n L V H r O 'tJ J the. H V'/a CHARLES JOURDAN So» *e*v and K* S~v«por. UwyH I Inocrws HINCKLEY SINGAPORE TRA&NG PTE LTD A <y m» DICKSON r-' "r~|i« ini 400 Orchard Road71 words
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Advertisement9 1987-09-19 3 Daim explains rapid growth of forex market, Page 59 words
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Page 3 Miscellaneous
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Miscellaneous67 1987-09-19 3 Doonesbury tUttE STILL ti PHOENIX... WHY AM J SWUNG? EASY... M THE GUY COMBS ACROSS AS AN MXANT6GOT. HE MAKES INSANE APPOINTMENTS. HE'S LOSING TUB STATE MILLIONS IN BUSINESS... 5^ I 1 BY GARRY TRUDEAU IMBAN.tJNBN YOU THINK ABOUT TT, IS THERE ANfONB LESS SUITE? FOR HIGH OfflCß THAN BV67 words
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COMMODITIES
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Article488 1987-09-19 4 Crude palm oil futures yesterday finished unchanged to slightly higher in light trading on the KLCE here. Traders said market players were sidelined on lack of fresh encouraging factors and this contributed to sluggish trading throughout the day. The higher close on the Chicago Board of Trade did488 words
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Article91 1987-09-19 4 TOKYO trading in the crude markets was brisk but with little change in the levels. However, a weaker underlying tone was noticeable among traders. Most of the product barrel was stable but naphtha firmed >prior to the AAPEC Conference next week. US*/barr«l Otanga Dubai (Oct) 16.90 •00391 words
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Article347 1987-09-19 4 HONGKONG: GOLD yesterday closed slightly higher in fairly active trading on renewed buying interest mainly from local and Asian investors. Dealers said investors were beginning to return to gold due to the weakness of the US stock and bond markets. Continued tension in the Gulf also lent some347 words
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Article272 1987-09-19 4 Reuter SINGAPORE THE MARKET yesterday closed slightly lower with October RSS One buyers quoted at 222.50 cents/kilo, down 0.25 cent from Thursday's close. The morning session gained 0.25 one cent on some covering interest in quiet trading. Trading continued quiet in the afternoon session but prices were marginally lowerReuter - 272 words
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Article257 1987-09-19 4 R AS priCOS In S cmMq, FOB In bnta NOON CLOSE Buyors Ruyors Int 1 RSS Prompt 226.25 227.25N 225.75 *****N tot 1 RSS Oct 87 223.00 ***** ***** 223.00 tot 1 RSS Nov 223.00 ***** ***** 223J00 Int 2 RSS Of ***** *****N 220.00 222.00N Int257 words
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Article80 1987-09-19 4 (canft/kg, 1 -*on polMs) OCTOStt 87 NOVEMBa 87 (curronf month) (forward month) RAS NOON NOON |yy|f| Bwywt IgtlTI SSt 30 31 3.50 315-50N 313-50 215 JON SSI SO 313.00 2I4.00N 212.00 2I4.00N MRELB (DjUd Saltan SMI cv 270 00 37Z00N 271.00 273.00N SMI I 370.00 272.00N 271.0080 words
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Article87 1987-09-19 4 THE PRICE of tin on the Kuala Lumpur Tin Marfcat aaaad another cant to M 516.90 par kg on sailing interest. Bidding interest for 75 tonnes was noted at Thursday's levels on expectations the price would fall following higher offering of 103 tonnes at the opening. European buyers87 words
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Article283 1987-09-19 4 Chinese Produce Sabak ftomam 3750 Exchange Kuala Solangor ftafu Pahat 3300 (t(ltri < noon dosing pricos on EST 3,650 Sop 18 (SS/100 kg) FOft 3.900 Coconut oil Coffee (ms/i ookg) It* FOft 95.00 No 1 720.00/743.0< OW drum FOft 105.00 No 2 694.00/742.0) Now drum FOft 109.00 Copra283 words
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Article337 1987-09-19 4 London Commodity Exchange ■vrvr/OTMf Sop 17 (£/tc noting pncot on mno union tpodfiod). Proviout doting pricot in poromhoti*. can— Both in-»tor« London, wttfi option Of London s*p 1275/1280 (1270/1275) High/Low 1280/1270 Nov 1306/1310 (1306/1309) Mgh/Low 1314/1300 Soiot (1465) Cocoa S*P 1195/1198 (1195/1200) High/Low 1205/1195 Ok 1225/1227 (1233/1235) High/Low337 words
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Article106 1987-09-19 4 Wheat Soybean Reuter WHEAT FUTURES on Thursday closed near session lows with prices off 2-1/2 cents to one cent per bushel. December was 2-1/4 cents lower at US$2 96 Corn futures posted modest gains at the close with prices up 1/4 cent to 1-1/4 cents per bushel. December settled 1/2Reuter - 106 words
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Page 4 Advertisements
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Advertisement535 1987-09-19 4 I) TUAN SING HOLDINGS LTD J (Incorporated in the Republic of Singapore) ANNOUNCEMENT 1987 INTERIM RESULTS Audited interim financial results for the six months ended 30 June 1987 THE COMPANY NOTES: (I) Review of results At the Group level, losses after taxation were trimmed by 77% from SS6 7 m*on535 words
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Advertisement668 1987-09-19 4 X SPP LIMITED Sk, 1 (Incorporated in the Republic of Singapore) jWj ANNOUNCEMENT Ar 1987 INTERIM RESULTS Audited interim financial results for the six months ended 30 June 1987 THE THE COMPANY GROUP 1. TURNOVER 496 350 13.632 _JVO76 +42 +23 2. INVESTMENT AND OTHER INCOME M n6 54 100668 words
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BANKING AND FINANCE
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Article1496 1987-09-19 5 Reuter SINGAPORE: THE US dollar yesterday closed easier aflainst most major currencies on speculative selling and profit-taking in moderate and nervous trading, dealers said. They said the dollar came under selling pressure after a Japanese newspaper report that major industrial nations will agree on a lower dollar/yen tradingReuter - 1,496 words
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Article381 1987-09-19 5 ASIAN DOLLAR deposit rates yesterday closed steady at lower opening levels, after a day of quiet trading, dealers said. They said most operators were sidelined due to a lack of interest. The market is waiting for the release of revised US second quarter GNP data, generally expected381 words
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Article34 1987-09-19 5 THE OVERNIGHT RATE on the Singapore interbank market jumped 47/16 points to 4-1/2 per cent yesterday. The onemonth term rate rose 3/16 point while the two- and three-month rates rose 1/8 point.34 words
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Article128 1987-09-19 5 Gold futures on Sep 17 100 troy ounces. USS per troy ounce Open High Low S*p 439.00 460.00 459.00 459.70 1.90 Oct 459.50 462.40 459.40 460.90 1.70 No» OK 464.00 1.70 466.00 468.40 *65 10 466.90 1.80 F*b 88 473.30 475.00 472.30 473.30 1.80 Apf 479.00 481.10128 words
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Article84 1987-09-19 5 Treasury bills Period Issue Yesterday's closing Day's code Maturity BIO OFFER HIGH LOW 3 months 6 months 1 year BQ*****W BS*****Z BY*****S 17.12.87 3.29 21.01.88 3.35 30.06.88 3.50 3.24 3.30 3.45 3.31 3.24 3.50 3.47 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code84 words
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154 1987-09-19 5 THE SINGAPORE branch of Mitsui Bank has launched a three-year Asso million revolving certificate of deposit programme. A statement issued yesterday by issue manager Wardley Ltd said the certificates would carry a maturity of one. two, three and six months. Wardley is154 words
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Article, Illustration513 1987-09-19 5 Bernama ES MALAYSIA'S foreign exchange market experienced rapid development during the first seven months of this year in line with the country's economic upturn. Finance Minister Daim Zainuddin said in Kuala Lumpur on Thursday night. During the period, the average monthly transaction onBernama ES - 513 words
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64 1987-09-19 5 AFP PERWIRA HABIB Bank. Malaysia's seventh-largest commercial bank, yesterday said it had returned to profitability after suffering bad loans leading to its rescue by the country's central bank in January. This followed a loan recovery programme and other measures launched in early 1966.AFP - 64 words
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Article569 1987-09-19 5 BA Futures DECEMBER Eurodollar yesterday opened sharply higher at 91.70 from the previous close of 91.63 as the market reacted bullishty on overnight news that the US Congress had agreed on budget reform. After touching the day's high of 91.71, prices drifted off to a low of 91.64 asBA Futures - 569 words
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Article1228 1987-09-19 5 CURRENCY FUTURES OPTIONS IMM rhurtdoy Saptaiwbw 17, I9S7 BRITISH POUND C (5,000; JaPe-0e8 mm par C ■a ft Mm Oct-c 1600 4.10 Naa c 4.25 Deo-c 5.00 Oe»-p 0.25 «a*p 140 Dae* 140 1625 2.15 195 3.45 040 2.10 1650 0.90 1.65 2.25 2.05 245 140 167S 0.30 1.401,228 words
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Article, Illustration168 1987-09-19 5 Indlcatea th« average of th« prim* lending rata* ot 12 «nalor banka In Spore us$ DM SWFC Y«n 7 4ay 7 S/1* 3/1* 7/« J/4 3 13/1* 11/1* 1 i/a -1/4 3 11/1* 1 MX 7J/I-1/1 ♦7/1-J/4 4 3/1* 1/1* 37/1-3/4 4 1/4 1/» 3 ■4k 7168 words
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WORLD MARKETS
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Article226 1987-09-19 6 Reuter G HEILEMAN Brewing Co of the US has rejected as inadequate a US$l.2 billion takeover offer from Australia's Bond Corp Holdings Ltd. but the company said it was willing to meet Bond chairman Alan Bond. Analysts said the meeting suggested that America's fourthReuter - 226 words
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116 1987-09-19 6 AFP N M ROTHSCHILD and Sons merchant bank has announced arrangements for next month's privatisation of the last portion of British Petroleum (BP). The sale, involving the remaining 31.5 per cent the government holds in BP and £1.5 billion worth of new shares, is likelyAFP - 116 words
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853 1987-09-19 6 New York Reuter NEW YORK stock prices finished slightly lower on Thursday after being bounced around by arbi-trage-related program trading in a session that some analysts believe could be a preview of yesterday's triple witching hour. The volatility kept many smaller investors on theReuter - 853 words
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803 1987-09-19 7 London Reuter LONDON share prices were firmer at the opening yesterday. continuing the trend over the last two days. Dealers expect the August UK money supply and bank lending data to be a considerable improvement on July's figures. TheReuter - 803 words
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Article1105 1987-09-19 7 Selected indices HONGKONG Hongkong Index Friday 2406 23 Thursday 2353 09 Week ogo 2406 09 Hang Seng Index Friday 3649 96 Thursday *****6 Week ogo *****0 All Industrials Friday Thursday Week ogo NEW YORK Dow Jones Thursday Wednesday Week ogo 3407 3 3375 9 3246 5 2527 90 *****9 25761,105 words
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Article1437 1987-09-19 7 Hongkong DBS Securities HONGKONG stocks took a sharp turn for the better yesterday, reversing four consecutive days of decline. It was a strong recovery with buying support evident from the opening bell. The Hang Seng Index gained 48 points in the morning and a further 30 pointsDBS Securities - 1,437 words
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Article108 1987-09-19 7 •fp it ttAu xi Kal ***** unch ®tp 11 WOW Kangwon Ind ***** ♦600 Kia Motor ***** unch OwM Sugar ***** unch Joton Ind o Deelim Ind ***** -300 Korea Long Tarm ***** -1000 Daewoo Corp ***** -100 M ***** 0300 5j ,#n !!j ***** unch' w&'su a ;s?108 words
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Article523 1987-09-19 7 Reuter TOKYO share prices closed mixed in heavy trading yesterday as investors squared positions ahead .of next month's start of the new fiscal year. The 225-share Nikkei Average shed 10.47 to 24.844.84, extending the 112.42-yen decline on Thursday. Declines led advances by five to four in turnover of 1.6Reuter - 523 words
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Article489 1987-09-19 7 Reuter THE AUSTRALIAN share market yesterday rose sharply to record levels with demand fuelled by firmer bullion prices and further solid profit results. At the close, the All Ordinaries Index rose to 2.305.5, 21.5 points above Thursday's record close. The All Industrials gained 31.4 to 3,407.3 while the GoldReuter - 489 words
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Article274 1987-09-19 7 SEP It NT Kolin 53 50 2 5 Kuochan Dev 54 00 2 5 0 22 Lee Chang Yuen All Sincere Indus 5 05 Chem Indus Asia Cement 68 CM 3 Lien Hwa Indus 51 00 2 2 101 00 45 Nan Ya Pias 73 50 3.5 Chang Hwa274 words
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Article180 1987-09-19 7 Reuter THE SECURITIES Exchange of Thailand index went up by 3.84 to 401.50. The Book Club index went up 3.66 to 354.38. Turnover was 4,362,646 shares. Value was 1153.17 million baht. Reuter sep ia baht 1Ao Kham Thai 240 4 Ayudhya Invastmant 396 unch Bangkok Agro-lnd 264 Bangkok BankReuter - 180 words
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Article81 1987-09-19 7 PESOS 11 SO -0.1 SEP 11 Marstaal Oriental B 0 077S 0 10 ♦0017J •001 ooc 0 002 Phi tax B Picop B 054 ♦0 07 0 0775 002 pldt 210 ♦25 Atlas Con 6 30 -15 San Miguel B 180 0 026 unch ♦0 001 Basic Petroleum Benguet81 words
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Page 6 Advertisements
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Advertisement878 1987-09-19 6 v -;v S3 IKSP> i+ > 9999 SB l^n Every second's on-the-house! The Fountain Lounge is flowing with the good times. Between 5 and 8 pm daily, for every drink you order you get your next FREE. And bottle purchasers pay just half the price There's no happier time to878 words
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Advertisement62 1987-09-19 6 PENINSULA o HOTEL o WM ;J' SZ. t 2. •J I i Culeman Street Singapore 0617 Tel 337*700 Catch the rhythmic trio at the Hilltop lounge I They will sooth you with their nostalgic oldies. Rock you with the latest chart toppers. Watch them perform nightly from 7.00pm except Mondays.62 words
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Page 7 Advertisements
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Advertisement196 1987-09-19 7 IP Li' Ss in *0 Casual CM) goestotheßeach C&ial Friendly. Familiar. Fun. Your kind of beat. Your kind of music. Your kind of disco! What a feeling! And now a whole new experience awaits you dancing on the beach, right here at the Casual Club! Every night with The Music196 words
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Advertisement236 1987-09-19 7 CANTON CARPSN t I'l- t|r top* w s Pleasing, contemporary surroundings. With exquisite lunchtime Him sum and delicate Cantonese cuisine fit for an emperor. Closed on Mondays. 3rd Floor, Westin Plaza. For reservations, call 338 8585 ext. ***** or 330 8310. The Westin Plaza Raffles City 2 Stamford Road. Singapore236 words
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LETTERS TO THE EDITOR
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Article504 1987-09-19 8 SINGAPOREANS are used to wonders of modern technology like frozen peas, frozen fish, even frozen sperm. Now, thanks also to modern technology. we're able to freeze people. We're not concerned here with cryonics, where fresh corpses are frozen in liquid nitrogen at minus 196 degrees centigrade.504 words
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Article, Illustration571 1987-09-19 8 Ming - Ming Dear Sir I refer to the letter by Gemini, dated Aug 22-23, with regards to the Elliot Wave counts on the ST Index. I totally agree with Gemini that the bullish wave pattern of the ST Index has not ended yet and that571 words
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416 1987-09-19 8 Gemini - Gemini Dear Sir Mr Wong Yee should please show readers the instances where he thinks that the local market does not seem to follow the Elliot Wave Theory. A clear distinction must be made between wrong interpretation and the theory not working.416 words
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535 1987-09-19 8 Thomas Cheng - Thomas Cheng Technical Services Manager Nicholas Kiwi International (Pte) Ltd Dear Sir We refer to the article "Isotonic Drinks a re-think" on Aug 22-23. We feel that the article is of interest to our healthconscious population. We share your concern that too high535 words
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307 1987-09-19 8 Merlyn H T Lim - Merlyn H T Lim Dear Sir The current controversy over the new share settlement system is a reflection of a typically Singaporean malaise: the Stock Exchange of Singapore has not learnt not to tamper with what is working well. They prefer to tinker and307 words
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288 1987-09-19 8 Bhupi Singh - Bhupi Singh Financial Controllar Appla Computer International Ltd Dear Sir We refer to the letter from Limco Products Mfg Pte Ltd entitled Computer firm welcomes Copyright Act" (Aug 22-23). We would like to assure your readers that Apple Computer's press release288 words
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128 1987-09-19 8 Jeanne Cheng (Mrs - Jeanne Cheng (Mrs) Public Relatione Officer Singapore BroadcaeMng Corporation Dear Sir We refer to the letter from S Teng requesting for Sesdaq price information to be transmitted "live" on SBCText (BT, Aug 29). At the moment, only the Main Board prices are128 words
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320 1987-09-19 8 T S Tay - T S Tay Dear Sir Since the proposal made by Mr S Chandra Das, Member of Parliament for Chong Boon, to rotate auditors in publicly listed companies in a recent parliamentary session, much have been written and said by concerned parties. As320 words
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Article133 1987-09-19 8 Ian Gan - Ian Gan Daar Sir I refer to the letter headlined "Letter on auditors: Conflicting points", which appeared on Sep 12-13, and would comment as follows. There are many approaches towards systems review, etc, by the auditor when he is first appointed. This initial review time could133 words
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Page 8 Advertisements
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Advertisement44 1987-09-19 8 BT welcomes totttra from ratdtre. Your letters mutt include your signature, full nam*, address, and homa and office talaphona numbers, if any. You may add a pseudonym, H you wish. Address your letters to: The Editor, Business Times, 390, Kim Seng Road, Singapore 0923.44 words
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Page 8 Miscellaneous
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Miscellaneous750 1987-09-19 8 CRYPTIC PUZZLE ACROSS 9 It's clear dad's back and mum, perhaps, too (8) 10 The money the woman declared (3) 11 How you said "I never travel by land"? (6) 12 To be cured would be preferable (6) 13 The beast, for work, gets a large amount of money (7)750 words
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Miscellaneous22 1987-09-19 8 OF I-Spy vou 1 rc TQQ eAsy T£l_L LJHFYT" LCT*S PL^y PuLL/NG FUNNiy y rpvces JVO PO'HT- YOu'uE. GOT A H£AD STp^RT22 words
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Executive Lifestyle
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Article228 1987-09-19 9 CHINESE FOOD was served Western style during The Silk Route, a dinner and fashion show at the Marina Mandarin last week. There were just five courses instead of the usual 10 and each came in individual servings. Some people liked the idea. But there was one228 words
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Article182 1987-09-19 9 TRENDS MENSWEAR DESIGNERS, casting silhouette and colour conventions to the wind, are bringing to men's fashion the variety women have long enjoyed and they are watching the salee figures climb. Designer previews for spring and summer ready-to-wear which ended In Paris this week were remarkable as182 words
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Article, Illustration807 1987-09-19 9 MONICA GWEE - With MONICA GWEE THE NEW Mike Hammer may be every man's idea of a macho private eye, and in an episode of the popular TV series, guest star Barbara Carrera was evidently some scriptwriter's idea of the "successful" woman. I want to write807 words
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Article, Illustration870 1987-09-19 9 CHRISTOPHER TAN - By CHRISTOPHER TAN FOR ONE who remains unjaded by the heart-stopping scenes of the Matterhorn, the Himalayas on a Nepalese trek, or even Kinabalu against blue velvet, New Zealand's Mount Cock took my breath sway. I am told Aorangi (Mt Cook in Maori meaning the CloudPictures by courtesy of NEW ZEALAND TOURIST & PUBLICITY OFFICE and CHRISTOPHER TAN - 870 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration841 1987-09-19 10 JAIME LYE - CINEMA By JAIME LYE FIRST RULE of law enforcement: "Make sure when your shift is over, you go home alive. Here endeth the lesson." And there starteth 77»# Untouchable*. There are no real people in this movie. Just mere representations of a world841 words
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Article, Illustration822 1987-09-19 10 RICHARD SEAH - Lipoproteins the cholesterol chariots HEALTH By RICHARD SEAH IF FISH OIL is a "good fat", cholesterol is widely perceived as the worst of the "bad fats". This bad reputation is not without basis, since high levels of cholesterol in the blood is strongly linked to heart diseases, particularly atherosclerosis, the822 words
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Article, Illustration97 1987-09-19 10 SHORT TAKES CURVES, which went into hiding for a spell in the madness for voluminous clothes largely Japanese inspired, are clearly back this season Designers of classic clothes never really abandoned the figure-flattering form and Louis Feraud is no exception. Feraud's ready-to-wear collection is now available at97 words
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Article, Illustration560 1987-09-19 11 ANNA TEO - BOOKS By ANNA TEO Running in Asia by Michael Anderson. Published by Howard Publishing Co Ltd, HK. 189 pages, $16.90, available at Times Bookshops THERE IS a book on running that does not tell you how, why or whether you560 words
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Article, Illustration758 1987-09-19 11 MARTIN SOONG - MUSIC By MARTIN SOONG A PERVERSE SENSE of enthusiasm is being generated over this year's jazz festival. Perverse because jazz in Singapore is on the brink of being redefined, as a music of remarkable mediocrity. Yet, pressured by privatisation, the festival's organisers must create758 words
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Article, Illustration339 1987-09-19 11 WALTON MORAIS - THEATRE By WALTON MORAIS LET IT BE known that we told you first. Last week, we said Daniel Koh was a potentially good actor. Now we say the 18-year-old is even better as a playwright. His new play Valentine, a study of339 words
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Article227 1987-09-19 11 Jaime Lye - by Jaime Lye AT 15 MINUTES, it wasn't so much lunch-time fare as it was a tea-time snack. Nevertheless, ST'ARS' Speeding Ticket, a tale of a speedster stopped by a traffic policeman who later turns out to be his former classmate, proved to be227 words
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Article791 1987-09-19 11 Sakina Dhilawala - Compiled by Sakina Dhilawala CINEMA: 3 Crazy Babysitters starring Roland Giraud and Michel Boujenah. Showing at Lido: 11; 1.30; 4; 6.45; 9.15. Masters of the Universe starring Dolph Lundgren and Frank Langella. Showing at Cathay: 11; 1.30; 4; 6.30; 9. The Secret Of My Success starring Michael J Fox.791 words
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Executive Lifestyle: Sports
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Article, Illustration718 1987-09-19 12 CHERRIE HOLDER - SQUASH By CHERRIE HOLDER EIGHTEEN MONTHS of drinking, cricket matches, football, raucous evenings with "me mates" in Hie local pub and the bonus of meeting the girl of his dreams, are not the ways one would expect someone who has been cruelly torn718 words
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140 1987-09-19 12 BOXING AFP SNOOKER KING Barry Hearn is calibrating his breakthrough into boxing promotion by banning TV caiheras from his first show next Friday. And Hearn, speaking about th 4 Southend bill topped by heavyweight Gary Mason on Thursday, said that television wouldAFP - 140 words
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Article, Illustration379 1987-09-19 12 MOTOR RACING Reuter BRAZILIAN Nelson Piquet will have the world title within his grasp if he maintains his extraordinary consistency this season by taking a fourth win in five races in Sunday s Portuguese Grand Prix in Estoril. The Williams driver, chasingReuter - 379 words
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Article, Illustration404 1987-09-19 12 ATHLETICS Bernama FOR A RARE MOMENT in her life, Asia's fastest woman Lydia De Vega felt nervous before the competition. The butterflies were fluttering in her tummy even before Thursday. After eight years, the Filipina was back to take a leap inBernama - 404 words
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Article, Illustration734 1987-09-19 12 MIKE THUMBA - BRIDGE By MIKE THUMBA FRED L KARPIN, a prolific writer of bridge, says in his book "Bridge Strategy at Trick One" that the history of most deals is the history of trick one, and is written in indelible ink. It is needless to emphasise734 words
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737 1987-09-19 12 GOLF AP GOLF, that symbol of capitalist extravagance, has arrived in China. This week, members of the first Chinese national golf team have arrived in the United States. The team, formed before China had a playable course, will test some ofAP - 737 words
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Article, Illustration506 1987-09-19 12 UPI TOMMY NAKAJIMA of Japan tied the course record with a 10-under-par 62 on Thursday and held a two-stroke lead when rain halted play during the first round of the US$6OO,OOO Greater Milwaukee Open in Wisconsin. Nakajima finished the round before golfersUPI - 506 words
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383 1987-09-19 12 Reuter BERNHARD LANGER tuned up for next week's Ryder Cup defence by sharing first round leadership of the lucrative Lancome Trophy golf tournament with Tony Johnstone of Zimbabwe. Langer, third round leader of the European Open at Walton Heath last weekend and a keyReuter - 383 words
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Executive Lifestyle: Personal Investment
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Article, Illustration527 1987-09-19 13 Ramesh Chandiramani - PRECIOUS METALS by Ramesh Chandiramani OVER THE PAST two months, the prices of gold and other precious metals have generally been moving within narrower and narrower ranges in a basically trendless market. This has not only slowed normal speculative activity527 words
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Article1268 1987-09-19 13 LISA LEE - RIGHTS ISSUES BBannBTS ams?gg By LISA LEE A POPULAR trend with companies trying to raise funds nowadays is to offer a rights issue a stock offering available only to existing shareholders. Indeed, rights issues appear to be getting bigger and bigger. Two weeks ago, food-based OAF1,268 words
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Article914 1987-09-19 13 RAMESH CHANDIRAMANI - STOCK MARKET By RAMESH CHANDIRAMANI THE LOCAL stock market is a bourse divided. Singapore-based stocks are doing well, high and away. However their up-country cousins Malaysian-based equities are down in the dumps. Anyone who has bought shares during the past three months, would not only have914 words
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Article, Illustration700 1987-09-19 13 Ramesh Chandiramani - FOREIGN EXCHANGE by Ramesh Chandiramani IT WAS a good rally while it lasted. But the US dollar has been on a decisively downward path since it topped out in February 1965. Still, the recent May to mid-August rise, the fifth major rally700 words
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Article, Illustration394 1987-09-19 13 Ramesh Chandiramani - -by Ramesh Chandiramani JUST before going on leave a month ago, this columnist sounded a cautionary bell about how overextended the local stock market had become. I had warned that the ST Index was susceptible to a shakeout, one which could knock 100394 words
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384 1987-09-19 13 ART Sotheby's Research Dept OUR SEQUENCE of end-season sector reviews of the art market concludes with a review of Chinese ceramics. In some respects, this is one of the most complex areas of the market at the present time where a singleSotheby's Research Dept - 384 words
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Page 9 Advertisements
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Advertisement18 1987-09-19 9 f r% JT, The only Card you'll ever really need. Call 732 2244 for an application form today.18 words
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Advertisement174 1987-09-19 9 L'ESPRIT DE GENEVE# L'ESPRIT DE GENEVE L'ESPRIT DE G E N E r r .GC|gtJC? am "I LIKE ORIGINALITY. I LIKE TO MAKE UNIQUE PIECES. EACH OF WHICH IS ENTIRELY HANDCRAFTED. LIKE THE GOLD GOLD AND THE PERPETUAL CALENDAR. INDEED, I AM A DREAMER IN GOLD, CRAFTSMAN IN TIME. I174 words
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Page 10 Miscellaneous
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Miscellaneous2600 1987-09-19 10 Days of Heaven and the Tony Awards Movies LOUIS JOUROAN is the latest in a string of i actors to sink his teeth into the role of Count Dracula in this new television ver-u-sion of Bram Stoker's favourite villain. Filmed mainly in England, much of the outdoor sequences were filmed2,600 words
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Page 11 Advertisements
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Advertisement15 1987-09-19 11 No frills. Pure jazz. JAZZ-ON SINGAPORE '87 THE SINGAPORE INTERNATIONAL JAZZ FESTIVAL 21-27 SEPTEMBER 198715 words
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Page 13 Advertisements
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Advertisement54 1987-09-19 13 COMPUTERISED CHARTING SERVICE FOR THE LOCAL stockmarket- Chartamatic The best-selling computerised charting service in Singapore Malaysia Provides historical data for all counters on the SES Used by leading banks, stockbrok.ng firms and diversified institutions Studies Features Trendlmes/Bar Charts/Point Figure/Line Charts/Relative Strength Indicator/Momentum/Overbought-Oversold/CADI/Volume Studies/Daily Weekly Pr.ce Charts and many more'ZT. TErlcsons54 words
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Advertisement37 1987-09-19 13 BT welcomes investment Ideas and viewpoints from brokers, bankers and readers. Address all correspondence to: The Editor, Personal Investment, Bus!' ness Times, 390 Kim Seng Road, Singapore 0923. IMI OIM d&« UO ►xtn-y** qi *stoi i Lhßi37 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration4292 1987-09-19 14 SELLERS dominated trading yesterday, as the market continued its fourth day of light activity, with prices falling across the board. The Straits Times Industrial Index fell 21.26 points to 1.393.34, while the BT Composite Index closed at 1,233.80, down 19.99 points Losers4,292 words
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Article238 1987-09-19 14 Mmo U O f etc M Oad» N S T FAN tmo 50« S f M out M tanking 0 Kacomot Sam* MarM baton 50« CdikiQi MMd k» S Strati Tradh Rises 700 320 290 394 3*4 Falls 540 1290 410 1050 S2S 7*0 *30 5IO ird238 words
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Article3313 1987-09-19 14 BID and offer prices officially listed and business in and reported to the Stock Exchange o( Singapore yesterday with the number of shares traded shown in brackets in lots o( 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "SETT".3,313 words
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Article358 1987-09-19 14 JACK CHIA ENTERPRISES (MALAYSIA) Berhad: 60th AGM at Conference Room (Teratai 1 2), 2nd Floor. PJ Hilton. No 2 Jalan Barat. Petaling Jaya. today at 11am. MBf HOLDINGS Berhad: 24th AGM at Penthouse. 23rd Floor, Plaza MBf. Jalan Ampang. ***** Kuala Lumpur on Monday. Sep 21. at 10am.358 words
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Page 14 Advertisements
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Advertisement16 1987-09-19 14 KL market report, Business done on the KLSE, Page 15 Unit Trusts table on Page 1516 words
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COMPANY NEWS
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534 1987-09-19 15 LISA LEE - By LISA LEE SMALL INVESTORS dominated subscriptions for the public offering by Sesdaq's latest entrant, Tonhow Industries Ltd, but only one out of 35 of these applicants will be awarded shares. The "smallish" issue from the manufacturer of precision plastic components attracted $381.89 million534 words
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165 1987-09-19 15 I P expects group profit of M$20.9m Bernama ES PROPERTY DEVELOPER Island and Peninsular Bhd has projected a group pre-tax profit of M 520.9 million for the year ending Jan 31. 1988. This would be slightly less than last year's profit of M 521.08 million. The forecast is based onBernama ES - 165 words
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80 1987-09-19 15 Bernama ES GUINNESS Malaysia Bhd turned in a pre-tax profit of M 523.43 million for the first six months of this year, 17 per cent more than the M 519.99 million during the same period last year. Attributable group profit totalled M 514.53 million (MBernama ES - 80 words
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597 1987-09-19 15 ROSIE TAN - Shares to be relisted in Hongkong in November By ROSIE TAN MANDARIN RESOURCES CORP. which is currently trying to recover HK$24 million from Dah Yung Investments and other parties, will resume trading on the Hongkong Stock Exchange in November. The relisting of MRC shares will597 words
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Article82 1987-09-19 15 NST BERJAYA CORP (Malaysia) has received approval from the Foreign Investment Committee (FIC) for its acquisitions of 20.1 per cent in Raleigh Bhd and 51 per cent in Tioman Island Resort. The purchase of the Raleigh stake is still subject to the ap- proval of theNST - 82 words
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Article2875 1987-09-19 15 SHARE PRICES fell back after an encouraging start on lack of follow-through support on the Kuala Lumpur stock market yesterday. Brokers attributed the early firm trading to bar-gain-hunting which, unfortunately, was too feeble to reverse the four-day weak spell. When the early buying fizzled out,2,875 words
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Article271 1987-09-19 15 Managers' prices for Sap 19 21 Singapore Unit Trust Th* CoMwrc* 121 128 Th* Savings Fund 106 1 13 S'por* frog Fund 048 0 j3* S'por* S«c Fund 082 088 S'por* l«iv*si fund 090 046 S'por* Equity Fund 040 065 Asia Unit Trust Mol Invwi Fund 1 56271 words
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Article457 1987-09-19 15 ELAINE KOH - By ELAINE KOH EVEN AS boardroom changes take place in Tuan Sing Holdings Ltd, the property group has reported that pre-tax losses have been trimmed by 78 per cent to $1.4 million for the first six months of the year. Tuan Sing announced yesterday that457 words
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Page 15 Advertisements
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Advertisement330 1987-09-19 15 NOTICE IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF SOUTHERN ENGINEERING PTE LTD (INCORPORATED IN THE REPUBLIC OF SINGAPORE) NOTICE OF RESOLUTION PURSUANT TO SECTION 290(2) At an Extraordinary General Meeting of the members of the abovenamed Company duly convened and held at No.330 words
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Advertisement7 1987-09-19 15 Every Friday Section Two The Straits Times7 words
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Advertisement729 1987-09-19 15 SIM LIM FINANCE LIMITED (Incorporated in the Republic of Singapore) NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 10, Jalan Besar #17-01, Sim Lim Tower, Singapore 0820 on October 10,1987 at 11.00 a.m. for the purpose of729 words
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Article, Illustration452 1987-09-19 16 LISA LEE - Local property giants showing keen interest By LISA LEE AFTER YEARS of private scouting for a buyer, The Adelphi is being officially put on the market and the prime property on Coleman Street is drawing big-time buyers. A tender for the sale452 words
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360 1987-09-19 16 PI A RESHUFFLE of Thailand's top military officers has strengthened the hand of Prime Minister Prem Tinsulanonda and army commander-in-chief General Chavalit Yongchaiyuth, analysts said yesterday. The annual list of promotions and transfers, announced on Thursday, covered 256 top officers in the Thai military, whichPI - 360 words
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281 1987-09-19 16 NST SINGAPORE is keen on introducing the twin universities programme, as practised by several Malaysian universities and educational institutions with those from overseas. Singapore Education Minister Dr Tony Tan Keng Yam said this at a press conference after a meeting withNST - 281 words
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365 1987-09-19 16 Bernama MALAYSIA and Thailand yesterday agreed on the need for joint efforts to check Thai fishing boat encroachment into Malaysian waters. Malaysian Foreign Affairs Ministry Deputy Secretary-Gen-eral Datuk Razali Ismail said that the understanding had been reached between Prime Minister Datuk Seri DrBernama - 365 words
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240 1987-09-19 16 Bernama ES PROPERTY trusts can be alternative property investment vehicles which will reduce extreme swings in the property market, a property research consultant said in Kuala Lumpur yesterday. Property trusts, which are similar to unit trusts, will also encourage a generation ofBernama ES - 240 words
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143 1987-09-19 16 THE Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act, which puts into effect certain incentive schemes to attract investments first announced in the 1986 and 1987 budget statements, came into effect yesterday. According to the government gazette published yesterday, the Act was passed143 words
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358 1987-09-19 16 Reuter JAPAN'S economic growth slowed to a halt in the second quarter, but economists said that they expected output to bounce back soon. The government s Economic Planning Agency said yesterday that the economy had showed no growth in the April/June quarter, afterReuter - 358 words
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489 1987-09-19 16 AMY BALAN - By AMY BALAN THE SINGAPORE Bank Employees Union (SBEU) has strongly protested against the latest round of retrenchments at Bank of America (BofA), calling it a "very difficult pill to swallow". In a press release issued yesterday. SBEU president Eddie Teng Ying Chye accused BofA,489 words
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Article100 1987-09-19 16 Reuter COMEX GOLD futures cut gains on disappointed selling yesterday morning after an early runup to new highs for the week failed to uncover automatic buy stops. December gold retained an advance of US$l.3O at U*****.20 an ounce, with the selling emerging at US$469 80. Analysts said sentimentReuter - 100 words
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Article105 1987-09-19 16 AP THE NEW YORK stock market turned upward in early trading yesterday,bouncing back from a three-session decline. The Dow Jones average of 30 industrials rose 0.49 to 2,528.39 in the first hour of trading. Gainers outnumbered losers by about 5 to 3 in the overall tally ofAP - 105 words
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LATE FILE
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Article63 1987-09-19 16 Reuter PRESIDENT Reagan yesterday announced that he would hold another summit with Soviet leader Mikhail Gorbachev in the autumn to sign a treaty abolishing super power Intermediate-Range Nuclear Forces He said that US Secretary of State George Shultz would go to Moscow next month to makeReuter - 63 words
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Article48 1987-09-19 16 Reuter COUNTRIES in East Asia and the Pacific yesterday welcomed reports that Moscow and Washington had finally agreed on a treaty banning medium-range nuclear missiles But some governments immediately said that they had hoped for greater cuts in both nuclear and conventional arsenals. ReuterReuter - 48 words
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Article56 1987-09-19 16 Reuter CHINA yesterday welcomed moves by the Taiwanese government to allow islanders to visit mainland relatives. but said that mainlanders were now demanding the right to visit Taiwan The official media said that preferential prices and special facilitiea were being prepared in south-east China for anReuter - 56 words
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Article47 1987-09-19 16 AFP ITALIAN business leaders have warned the government that recession threatens the economy ahead of a draft finance Bill due to be approved and published by the government today. The Confindustria organisation's president Luigi Lucchini said: "The government's ideas are still confused.'' AFPAFP - 47 words
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Article42 1987-09-19 16 Reuter KANAK separatist leader Jean-Marie Tjibaou yesterday turned his back on a call by French Prime Minister Jacques Chirac for New Caledonia's two opposing camps to work together. Mr Chirac flew into the Pacific territory on Thursday. ReuterReuter - 42 words
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Page 16 Advertisements
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Advertisement53 1987-09-19 16 FOR SALE AUSTRALIAN GOLF COURSE A COUNTRY CLUB 30 minutes from international airport. 100 acre freehold 18 hole golf course (par 66) with a further 25 acres of development potential overlooking water established 8 years. price around As 4 million. CONTACT: Chris Weir Bain A Company Pte Ltd Phone: *****7753 words
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Advertisement331 1987-09-19 16 on achievement -D usiness Times, Singapore's foremost business paper, and DHL, the world's leading courier, are proud to announce that the search is on for Singapore's Businessman of the Year, for the individual who strove for success and so made the most notable contribution to business in 1967. And we331 words
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