The Business Times, 17 October 1987

Total Pages: 18
1 18 The Business Times
  • 12 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, October 17-18 1987 75 CENT
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  • 181 1 Ovomie markets Friday HK Hong Song Max 37(3.20 (-45.44 Tokyo Nkkoi Avorogo *****74 (-61.46 CujinAw A II •ywigjr lOfiwi 2145.1 (-U ThurWey Now York (Dow Jonos) 2355.09 (-57.61 London (FT 30 Indox) ***** (-21.8) THE S$ firmed up against the US$ to cloee st S$2.0815/25 (S$2.0925/35) in
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  • 631 1  -  ST Index plunges 33.75 points in biggest one-day fall since Sep 3 By CHARLES SAVAGE THE SINGAPORE stock market took one of its sharpest one-day falls yesterday as investors grew increasingly nervous about the outlook for world stock markets, especially New York, which got
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  • 494 1  -  By ROSIE TAN DESIGN, construction and civil engineering group United Engineers Ltd (UEL) has entered into a technical and marketing collaboration agreement with Monenco Ltd of Canada, a leading international engineering and management consulting company. At a signing ceremony yesterday, it was also announced
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  • 344 1 AP, AFP ASEAN must go ahead with its planned summit in Manila in December despite concern about security by some members, the new Philippine Foreign Secretary Raul Manglapus said yesterday. "There is no change at all in our insistence to keep
    AP,; AFP  -  344 words
  • 119 1 AFP THAILAND has asked the European Community (EC) not to establish diplomatic links with Vietnam pending a resolution of the Cambodian conflict. Radio Thailand said yesterday. Thai Foreign Minister Siddhi Savetsi la cautioned the EC about its dealings with Hanoi during talks in Bangkok on
    AFP  -  119 words
  • Page 1 Advertisements
    • 269 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM INSIDE THE GOVERNMENT hos increased Its finandol support for child-care centres. Expenditure In tho first six months of the curront fiscal year (FY 1987/88) oxooodod tho total spont for tho whole of FY1986/87. HOME NEWS, Nm 2 a. vt mm m »< THE WESTERN
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    • 258 1 Nikon THE WORLD'S FINEST HIC Europe on lour whools Page 9 Living it up without having to live it down I Healthy salads at 'junkfood junction' Page 12 TV programmes for today and tomorrow Pao Brando, Masterworks and the Africans Pa The Moequito Coast bitten by the travel bug Art
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  • HOME NEWS
    • 575 2  -  By ZHOU MEI GOVERNMENT SUPPORT for child-care centres as a tool of its New Population Policy is reflected in the upsurge in financial outlay to support these centres. For the first six months of the current fiscal year (FY1967/88), the government spent $2.39 million
      575 words
    • 238 2 Seminars and HT Courses Tel: Tlx: Fax: *****13 RS ***** *****66 Oct 26-27 Managing Relating SIM Conference Singapore *****66 Styles Room Institute of Management Oct 26-27 Merchandising and SIM Conference Singapore *****66 Display Room Institute of Management Oct 26-28 Map. Top and Industrial Hilton Hotel Housley *****88 Local
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    • 227 2 THE WISE programme, which was started in July this year, will have a second intake of about 7,000 workers next year more than four times the number in the first batch. This was announced last night by the Minister of State for Education,
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    • 271 2 AMERICA'S largest labour group has been branded a bunch of hypocrites by a leading unionist. National Trades Union Congress assistant secre-tary-general Qoh Chee Wee attacked the American Federation of Labour and Congress of Industrial Organisations (AFL-CIO) in the latest issue of the
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    • 159 2 AT A TIME when credit card issuers are aggressively marketing their cards, Chase Manhattan Bank is launching one more piece of plastic into the fray. The New Yorkbased bank will introduce its version of the classic Visa card on Monday. The move follows the recent
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    • 374 2 TRADE, port legislation and technical education have been identified by a delegation from the West German state of Bremen as possible areas for economic cooperation between Singapore and Bremen. The delegation, led by Mr Hartmut Schmadeke, chief executive director of Bremen's Economic Development Corporation,
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    • 1140 2 AT CONVENTIONAL WHARVES KEPPEL WHARVES i Arrival Departure B Seta war *20 alongside 18.10/0000 Barber Tampa C09 olongside 18.10/0600 Bohinj K32 olongside 22.10/1300 Cm Muhutooh/P KI8 alongside olongside 17.10/0500 Kim Soon li K23 1710/2100 KinoH ICO olongside 1910/0700 Koto Woruna K3I olongside 1810/0600 Kris Melela K24€ olongside
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    • 183 2 TO ENSURE quality child-car* facilities, legislation will toon be* enacted to govern all child-care centres in Singapore. BT understands that the Min-„. •stry of Community Development has finalised a draft of the pro-., posed act. The draft has not been sent to the Cabinet
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  • Page 2 Advertisements
    • 269 2 il: i m I (Incorporated in Malaysia) CAPITAL RECONSTRUCTION SCHEME comprising A SCHEME OF ARRANGEMENT A RIGHTS ISSUE BY UMW HOLDINGS BERHAD NOTICE OF CLOSURE OF BOOKS Notice is hereby given that the share transfer books and the register of members of the Company will be closed from 10th November
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  • OVERSEAS
    • 700 3 AP US INTEREST rate* edged higher on Thursday as the White House tried to quell nervousness in the financial markets that could choke off the United States' economic growth. The lenders who have sent interest rates soaring lately appeared unconvinced by
      AP  -  700 words
    • 839 3 ARRIVALS Operator Jinnci number Local Mm* From MK MK746 0730 MCU SU SQ411 0(20 •OM MAS MH641 0(20 KUL SV SV39( 0(35 JED/MJH KAL KE624 0(40 KUL MAS MHtll 0910 PEN MAS MH671 0920 KUL AC VI5t 0925 ytz/im/$om CPA CX710 1015 CGK MA •1421 1100 »WN
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    • 511 3 UPI A JAPANESE MAN recited the geometric constant 'Pi' to a record 40,000 places, s dead English baby had 14 fingers and 15 toes, and it takes light from the newest known supernovs 170,000 years to reach Earth. These srs some
      UPI  -  511 words
    • 390 3 AFP A SENIOR US officiel called on Japan on Thursday to increese energy imports from the United Statee. Under-Secretary of State for Economic and Agricultural Affairs Allen Wallis was briefing reporters after three days of sub-cabinet-level talks between Japaneee end US delegations
      AFP  -  390 words
    • 622 3 AP FEARS THAT an economic recession ie creeping up on Western Europe have begun to subside, and forecaeters say signs now point to a fifth consecutive year of solid growth in 1988. Some economists predict the expansion will continue through the end of the
      AP  -  622 words
    • 347 3 FT IN A NEW 810 to halt the Gulf war. th® UN eecretary general. Mr Javier Perez De Cuellar, save Iran and Iraq on Thursday what ha tarmad a detailed outline plan" and askad lor thair
      FT  -  347 words
    • 263 3 Reuter THE World Bank and donor countries will help to restore Sri Lanka's economy only* after peace is reetored on the island, Finance and Planning Miniater Ronnie De Mel said on Thursday in Colombo. "I hope the situation eases in the
      Reuter  -  263 words
    • 278 3 Reuter AUSTRALIA'S woree-than-fore-cast balancs of payments figures for September srs unliksly to have a sustained impect on the economy, market snslysts ssid yssterdey. Ths currsnt sccount dsficit wss higher thsn msrket expectations, but the snslysts sttributed this to ssssonsl trsde factors
      Reuter  -  278 words
    • 266 3 AFP A SOUTH African research organisation, funded by the South African Council of Churches (SACC), has found that 67 per cent of blacks polled support sanctions against South Africa to fight apartheid. A survey by the Community Agency for Social Enquiry (CASE),
      AFP  -  266 words
  • Page 3 Advertisements
    • 64 3 fI 1/ \l I f I 1# The business person's choice, every I 1 II 111 I Tuesday, Thursday, Saturday and I I W1 f I \l I 1 I Sunday. Leaving Changi Airport at I yy 1 \WJ- 1 A 22:05 hours and arriving at Lester 'B Pearson International
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    • 7 3 rls® tur#, Pag* I Ludtr, Pag« 10
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    • 171 3 The University of Melbourne Graduate School of Management MBA Applications are invited for admission to the 1968 MBA program. This is a two year full-time program commencing in March 1968 and is offered on a full fee-paying basis to overseas students. Applicants should have a university degree and at least
      171 words
  • Page 3 Miscellaneous
    • 54 3 Doonesbury OKAY, LETS TAKE A LOOK AT THE C-C-CHARACTER SCORE' BOARP! rfcONLi OCTOBER. MP ITH£BMOFU*MRARZAUWrf TWOPOHUN! ANPThAT voe&rr EV&4 NCLUCe mjLLAXALTUHOWVPKr SUSP6NPHSCANPf[*CYFOR BUT SHOULD HAVE, HME< fi vW •:v« BY GARRY TRUDEAU OH, Um THE HECK! 1969 LAXALJ GOLFING PARTNER. AL POREMAN f$ PUBBEP OUT HA SUBURBAN PARKING LOT... I
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  • COMMODITIES
    • 108 4 AFP INDONESIA'S corn imports from Thailand ara likely to riaa by 50,000 tonnes more than last year to 178,000 tonnes this year because of prolonged drought. Wardoyo, the junior minister in charge of booeting food crop production, told Indonesian journalists that by September this year corn
      AFP  -  108 words
    • 287 4 Source: Johnson Matthey Singapore HONGKONG: GOLD yesterday cloeed firmer on light local and overseas buying in view of a declining US dollar. Bullion ended at U*****.40/90 an ounce against an initial 463.90/464.40 and was above New York's final U*****.75/463.25. On the local market, gold finished HK$l7 higher at
      Source: Johnson Matthey Singapore  -  287 words
    • 426 4 Exports may top 580,000 tonnes in 1990 Bernama ES MALAYSIAN rubber exports to the Far East will increase by more than 250,000 tonnes in 1990, the chairman of the Malaysian Rubber Research and Development Board (MRRDB), Ahmad Farouk, said. In the
      Bernama ES  -  426 words
    • 229 4 Bernama ES MALAYSIA'S natural rubber production in August dropped by 17,342 tonnes to 131,680 tonnes when compared to the previous month while exports increased by 3,872 tonnes to 136,866 in the month under review, the Statistics Department said on Wednesday. Production in August last
      Bernama ES  -  229 words
    • 235 4 Chinese Produce (USS/toww. FOt) Exchange White Rice noon doting prto Oct 16 (SI/100 kg) h on 100% 1« dam 100% 2nd dom 320 2tt Coconut oil 100% 3rd dom 283 M FOt 95.00 5% 278 Old drum FOt 105.00 (0% 273 New drum FOt 109.00 '5% 267 Copra
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    • 204 4 Reuter WHEAT FUTURES on tha Chicago Board of Trada on Thuraday cloaad staady to lower with pricea off 2-3/4 cants par bushel to unchanged. December was 2-3/4 cents lower at US$3 09 Traders said nearby month prices eased on local and commission house selling. The trade believed that the
      Reuter  -  204 words
    • 301 4 Reuter SINGAPORE THE MARKET yesterday closed higher on November 1 RSS bids at 217.75 cents/kilo, up one cent from Thursday's close, dealers said. TSR-20 prices rose in line with the RSS market in quiet trading, they said. November and December TSR-20 closed at 206.50 cents/kilo, both up one cent
      Reuter  -  301 words
    • 255 4 RAS prices mte utoftg, FOB In bah NOON CLOSE Bwyon SeMeri Bvyon Setters tnf 1 RSS Prompt 218.75 *****N 219.75 220.75N bit 1 RSS Nov 87 216.75 217.25 217.75 218.25 bit 1 RSS Dk 219.00 219J0 220.00 220JO bit 2 RSS Of 215 JO 217J0N 216J0 218
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    • 77 4 kenh/lig, l-*an RA8 SSI 30 SSI SO MRELB poU—ii NOVEMttt 87 (currant month) NOON Sittn 313.00 ***** 311 JO 313-50 DECEMKft (forward month) NOON SiAwi 313.00 215.00 311 JO 313 JO SMI CV 270.30 373JON 371 JO 273JON SMI I 370-50 372J0N 371 JO 273JON SMI s
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    • 80 4 NEWS of the Iranian attack on the US flagged tanker "CR City" caused crude oil prices to jump steeply upwards. Tokyo trading was very active, but the Singapore products market was subdued. DM IN**) W«t Umm UU/taml 17.01 OOt wn CN».) l»-7» -003 Products (FOB S'por«) US$/Wral
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    • 116 4 Reuter THE Kuala Lumpur Tin Marfcat prlca yaatarday raaa eight cants to Mtl7.lt a kg at the daaa on ranawad buying wp* port, dealers aaW. Thay no lad atrong buy* Ing, particularly from Europo, at Via opening prlca of 117.10 but aftera wara amall. Bid» than alowty aaaad
      Reuter  -  116 words
    • 230 4 Reuter SOYBEAN FUTURES on the Chicago Board of Trade on Thursday closed mostly lower with prices ranging 2-3/4 cents a bushel lower in nearby November to 1/2 cent lower in July. November closed at U555.42-3/4 a bushel, off the high of 5.47-1/2. Traders said late mixed selling taken up
      Reuter  -  230 words
    • 549 4 AP THE TIGHTNESS in supply lines. which this month drovs the price of copper to its highest level for nearly five years, could come to an end next year, a leading analyst forecast on Wednesday. Following four consecutive years
      AP  -  549 words
    • 458 4 Cn **f" yeeterday closed easier on the KLCE as seller* dominated the market. The market opened lower following India's passing waakly tandar on Thursday. Tharaaftar, It advancad on shortcovering but was depressed again on sailing intarast Spot month Novambar was unchangad at Ms7Bo par tonne while December and
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    • 308 4 London Commodity Exchange (355/357Jpd) Jon 365* (360pd) Jan/Fob 365dr (365pd) Fob 370pd (370pd) Tono. Mo 1170/1174 (1160/1165) 1205(1210) Sato* (nN) Svyof/S#W*< doiiri Ocr 15 (£/t««o Prmviavi riauno CM V pricot on ipvOHvC) ■irm, In M'dan K90 F09 Oa/No*/Doc 132J* 1—) Laad ColVaa ln-tfoft London, wlin opflon OF London
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  • Page 4 Advertisements
    • 137 4 UNITED PULP PAPER COMPANY LIMITED (Incorporated in ttw Republic of Singapore) ANNOUNCEMENT The Board of Directors of United Pulp Paper Company Limited hereby gives notice that the Company's books will close for the purpose of the Rights Issue from 10 to 16 November, 1987, both dates being inclusive. Shares should
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  • Page 4 Miscellaneous
    • 88 4 CHy Max/ Note Mm CO Singapore Moscow 12/01 Clear Nossou 29/24 Rain New MM 34/22 Cl*ar New York 19/07 Sunny Nicosia 27/15 Otor Olio 10/06 Roin Parh 14/10 Showers Perth 18/11 Cloudy Rio 'Janeiro 26/17 Cloudy Romo 24/15 Sunny San FHt'co 20/11 Sumy San Juan 34/24 Ooar Santiago 17/07 Cloudy
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  • Page 5 Advertisements
    • 324 5 More concrete evidence of Nixdorf's solid commitment to Singapore v r.. v. frrI a <r i -V* ,-'|sW4^r tr k,^ w iiiijiiii fM,. til* 4* It A* JhA t X LJ l~« fToday, we open the new Nixdorf Computer Centre in Singapore. Located at 2, Kallang Sector, it is a
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  • WORLD MARKETS
    • 339 6 Reuter THE HEAD of Citicorp's Latin American investment bank says that its pace of debt/equity conversions is going to be slower than it had planned. Richard Huber attributed this slowdown primarily to a lack of viable debt conversion programmes in Argentina and, even more importantly,
      Reuter  -  339 words
    • 603 6 New York Reuter THE NEW YORK stock market fell more than 50 points in the last half hour of trading on Thursday as Wall Street got trounced for the second straight day. marking the biggest two session point decline ever. Fear of a continued rise
      Reuter  -  603 words
    • 729 7 London DEALERS on London's |tock market yesterday said the exchange authorities had suspended dealings after severe overnight gjales disrupted power supplies. The Stock Exchange Automated Quotation system was working only intermittently. On Thursday, the FTSE 100 dropped 21.0 to 2301.9 while the FT
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    • 1003 7 Amsterdam OCT W U ABM 42JO •1 9 (3 SO •1 3 AhokT 97 70 ■06 1*140 147 00 -02 AMEV ,,.§TM ■BJ Amro Bank 77 20 -24 Am Slad 117 00 .1 BOLS 137 90 -2 9 BorauflM) Buafwaian TiflMt Mm 114 20 >da 00 00 -43 ■B7 Elaavtar
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    • 1406 7 Hongkong SHARE PRICES cloeed sharply lower on the Hongkong market yeeterdey but a lata surga of buying parad loeaes in a day of rollar coaatar trading that at ona tima aaw tha Hang Sang Indax slida mora than 100 points, broker» said. Tha indax finished tha
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    • 99 7 OCT M I mm Hyundai Motor Kai 16S00 -300 •200 ***** -2*30 Cha4l Sugar IflMO uneh 700 90 -110 Kta Motor ***** •140 Koton tod ***** •010 Ohwoo Corp Paawoo Httm Datahm Sacurittaa ***** ***** Koraa Long Tarm Lucky LM ztaoo ***** 1000 uncti ***** ***** ***** 1300 Onantai
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    • 355 7 Reuter SHARE PRICES on the Tokyo market closed •lightly down yesterday, after a strong rebound from midday lowa. Brokers said higher local bond pricee and fading fears of higher intereet ratee rsalorsd some of the confidence withered by Walt Street's huge dedinee in the last two eees»oos The tit
      Reuter  -  355 words
    • 419 7 Reuter THE AUtTWAIIAW share Mrdai bvt «tM elf the day'* low», fallowing a Mtwr sharp drop on waM Street overnight. Brokers said the M point (all in tha Dow Jonoe Index to 2366 encouraged further haavy sailing of Industrial stocks. Buying intarast cantrad on mining stocks following a riaa
      Reuter  -  419 words
    • 150 7 Reuter THE SECURITIES Exchange of Thailand Index moved up 4.48 points to 469.75 on a turnover of 14,659,230 shares worth 1.170.28 million baht. OCT H BAHT Ao Kham Thai 236 +1 Ayudhy® lnvwfni#fi L 882 -12 Bangkok Agro-tod 1*3 -2 Bangkok Bank Bank 01 Ayudhya Charoong Thai Wir. 3*3
      Reuter  -  150 words
    • 243 7 OCT M 1 AN Sincara Indua Asia Camant MT t 397 73 50 -02 3.5 KoMn Kuochan Oav Laa Chang Yuan Cham indua Uan Hwa Indua. Nan Ya Plaa 40.90 MM MM 47.M 79 00 •1 •U -24 2 Q4ni mn Dai*. Chang Loong ***** SO SO •14 2
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    • 75 7 1IOI OrianM B Ptrtl 0»inm PtuMi B 0 1060 ***** 0.57 unch -0 015 wnch 0 022 4-0 001 Pieop B Apax Mining B ooa -0 0029 AHm Con 1. Baguto OoM 34 2 San Mtgual 170 ♦0 001 Bwc P*trot*um Benguet Con B o on 120 unct> urt&i
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  • Page 6 Advertisements
    • 883 6 if/ INI W is P SS > Is wise. <iliK aad 1 999 9 9 ss rh /r •r T1 Pi Single 915 Per Month Couple 925 P»r Month Family $30 For Month (IKostrlctod children below 12 years old) Members can make use of our open mini gymnasium facilities free
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    • 195 6 France at Theßdv^dete The Belvedere's French buffet luncheon. An incredible selection of more than 60 authentic favourites, from now till October 29. It's as good as being in France! 12.00 to 2.30 pm daily. Adult: S3l/Childb $15 PncasMbftct to lO%sennctdktrgeMmlJ%govc Ux The rrutntgement reserves the right to chdngr the programme.
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  • Page 7 Advertisements
    • 291 7 %%<* 4 x Sunday Brunch: r A great family outing. If s a wonderful way to combine a late breakfast wtth an early lunch on a lazy Sunday Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roastright through to pastries, puddings, X fruit satad and
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    • 241 7 CANTON OATOSN fit >Tt m M Pleasing, contemporary surroundings. With exquisite lunchtime dim 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. i The Weshn Plaza Raffles City 2 Stamford Road, Singapore 0617.
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  • BANKING AND FINANCE
    • 1458 8 Reuter SINGAPORE: THE US dollar yesterday closed mixed against major currencies in thin pre-weekend trading amid uncertainty over its immediate direction. Dealers said the dollar's sentiment remained bearish because of the larger-than-expected US August trade deficit. It was depreeeed further by US Treasury Secretary James Baker's comment that
      Reuter  -  1,458 words
    • 85 8 Treasury bills Period Ism* Yesterday's dosing Day's code Maturity MO OFFCT HWH LOW 3 mnOw BQ*****H 14.1.88 3.73 3.68 3.69 3.62 6 mcmltw IS*****Z 21.1.88 3.73 3.68 1 year IY*****H 22.09.88 4.05 4.00 4.06 3.91 Government notes and bonds Period issue Maturity Coupon Yesterday 's dosing Day's
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    • 598 8 DECEMBER Eurodollar yesterday opened at 90.48 and was sold off to a low of 90.38 in active trading due to a weaker US dollar and stocks which depressed buying interest. However, comments by Japanese Finance Minister Kiichi Miyazawa that the Louvre accord needs no adjustments prompted shortcovering. The December
      598 words
    • 179 8 IndlClttl Ml# IV9TIQ9 of tt># prim* lending nt9i of 12 ma(or banks In S'por* Interbank market rataa (offer/bid) on Oct 16 us$ dm swpc Y«n 7 4myt 3 12 mm 7 13/1* 13/16 3/16 1/14 3/16 1/16 J/16 3/16 11/16 9/16 t 7/% 3/4 15/16 13/16 10
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    • 62 8 THE OVERNIGHT RATE on the Singapore interbank market surged 4 points to end at 4-1/2 per cent yesterday. The term rates rose 1/16 point across the board. S$ Interbank rat*s at 7pm y«st*rday: oma mo Ovwf++* 4 1/2 4 1/4 1 -mMti 4 S/U 4 3/1« 2-*wrtli 4
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    • 337 8 Asian market ASIAN dollar deposit rates yesterday closed steady at opening levels, in quiet afternoon trading, dealers said. They said most operators were sidelined in the afternoon on lack of interest as they were awaiting yesterday's release of US September producer price index data. Dealers said most participants were still
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    • 135 8 Gold futures on Oct 15 100 troy ouncts USS per troy a unce OM" IMI Oct 462 JO 468.50 462.20 462 90 2.10 No. 464.20 1.50 Ok 464 M 472 50 466.50 467JO ♦2.00 Mi U 474-50 400 00 473J0 475.10 3.30 A«w 4*2.00 417.00 4«2 00
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    • 718 8 A 'weird time' to raise prime rate, says an analyst Reuter CHEMICAL BANK'S move to raise its prime lending rate will not necessarily be followed soon by other US banks, given a growing view that the Federal Reserve is not likely to raise the discount rate
      Reuter  -  718 words
    • 1305 8 INTEREST RATES OPTIONS Friday, Octobar 16, 997 EURODOLLAR (SIMCX) 0 ac $7 cate Oi K 67 paM M* Laa Saa M* Law Saa MOO 1466 I44A 146 26 3 M30 0 96A 102 M 9000 59A 62 1M 16 9030 29A 31 3M 35 34 9100 Ill 9 12
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  • FOCUS
    • 1270 9 The race for the Japanese premiership can be costly, literally. Political candidates have to dish out stacks of money to secure votes and loyalty. And they have to raise even more to keep their political engines running. FOCUS examines the methods they use to top
      AP  -  1,270 words
    • 363 9 AP SOME of the money that fills the coffers of Japanese politicians comes from manipulative and insider trading on the booming Tokyo stock market, political and securities officials say. The practice is such an open secret that it fuels popular trading on
      AP  -  363 words
    • 372 9 AP OF THE 100 or so reported political bribery scandals each year in Japan, more than half involve the construction industry, newspapers say. From small subcontractors to giant construction groups, members of the industry find it pays to maintain close ties with politicians, especially those
      AP  -  372 words
  • Page 9 Advertisements
    • 72 9 Pro ji! I T U-* Developers are talking about it. Home-buyers are watching it. What is the current scenario for offices, shops, factories, warehouses and residential properties? Is the property market set for a continual recovery to good health? Find out in Property, a special Business Times survey on November
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  • LETTERS TO THE EDITOR
    • 500 10 SINQAPURA is a world record. Probably unknown to most Singaporeans, Singapura is a species of cat also called the "drain cat". According to the Guinness Book of Records, it is the smallest species of cat in the world. Check up the same book under "The Solar
      500 words
    • 265 10  -  John M Carter Dear Sir The suggestion of Men's Bar at the British Club has aroused antagonistic sentiments among some members of the opposite sex. It puzzles me that a mere suggestion, that man sometimes prefer the company of their
      265 words
    • 530 10  -  Mics Juthika Ramanathan Dear Sir I refer to the letter headlined "Maximum automation plus maximum paper work" appearing in BT (Oct 10-11). The Registry does not require officers (eg directors or executives) of any company to attend personally to file company
      530 words
    • 140 10  -  Jeanne Cheng(Mrs) Corporation Dmt Sir Please refsr to the letter from Ms Rosey Ding who commented on the listing ot SES counters over SBCText (BT Sep 26). As there is a limit to the spece available for the name of
      140 words
    • 416 10  -  Chan Whay Yam Dear Sir Before the publication of Business Times. The Straits Times used to publish the "Dividends Announced". "Proposed Rights/Bonus Issues" and "Approved Rights/ Bonus Issues" regularly on Mondays. Since the publication of Business Times, these columns were transferred
      416 words
    • 162 10  -  Kwek Wei Beng Dear Sk I'm the owner of an old provision shop. Recently my business declined. I found that the newly renovated Econ Minimart and 7-Eleven in the vicinity is the I need to convert my provision shop into a mini-supermarket to stay competitive. There
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  • Page 10 Advertisements
    • 195 10 BT W»tCOfTIM littfff from rudtri. Your numbara, if any. You may add a paoudonym, H you i Add rial vour lattari to: WwU WV WvWv w Tha Editor. Buainaaa Tlmaa, 990, Kim Sangßoad, Singapore 0833. u I I I II The Straits Times Overseas Weekly. It's the weekly newspaper, printed
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  • Page 10 Miscellaneous
    • 765 10 TiW (T)a I N SO N D CRYPTIC PUZZLE ACROSS 9 Take off the high heels and run down? (8) 10 Knocking back drink from a cask (3) 11 Notice, a long time afterwards, the saws (6) 12 The best runner (6) 13 Taking a beer round to the Frenchman
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  • Executive Lifestyle
    • 265 11 THE CLOSELY KNIT legal community is buzzing with jokes about an unsavoury incident that allegedly took place in a major law firm recently. Well, most of the community is buz2ing except for the firm involved which, other lawyers say. has denied the incident. The story goes
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    • 223 11 TRENDS SEMTIMEMTALITY stretch** far mora than tha imagination, somatimaa. Ona Amarican pat lovar spina yarn out of dog I»*, and ta hoping to turn har hobby Into a mall-ordar bminaaa. "Ifa bacoming mora and mora popular," Mrs Batty Burlan Klrt said. Bha spina tha yarn,
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    • 694 11  -  PtA4&b*l' With JAIME LYE FORGET psychoanalysis. Chuck that couch out the window. Tell Freud his theories hold less water than a disposable diaper. You really want to know what makes a person tick? First of all, throw away that scientifically developed personality deciphering questionnaire What
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    • 1052 11  -  Story and pictures by JEFFREY TSANG GLIDING ALONG at well past 100kph, you are at peace. No rumbling of wheels on a track, no stranger to share your compartment with, and no stops to look out for. Just the road and the sheer expanse
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    • Executive Lifestyle: Entertainment & Pursuits
      • 1026 12  -  HEALTH By RICHARD SEAH THE "JUNKFOOD JUNCTION" of Orchard Road and Scotts Road, whare all tha major fastfood chains ara reprasantad, hat become tha placa to go for a healthy lunch. Not that they have changed their menu*. Go instead to Cafe Vienna at
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      • 463 12  -  CINEMA By LAWRENCE TAN BASICALLY, Allie Fox is an impractical man. That he also happens to be a genius is a luxury that his family can't afford. Disenchanted, nay outraged, with the imprisoning artifices and impositions of the civilised world, he travels a million
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      • 467 12  -  By JAIME LYE "WHATEVER you do. don't let her drink." No. It's not as if she turns into a gremlin if she gets wet. It's worse. She becomes a disastrous Blind Date. That's what Bruce Willis finds out when he does what comes
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      • 487 13 SHORT «MIVIVI TAKES NEVER MENTION Lionel Richie to The Commodores. And never imply that the group has since been put out to pasture since their former lead singer left them for a phenomenally successful solo career about five years ago. Sure, they had to make some
        487 words
      • 693 13  - Hermes playing with colours and motion FASHION By GENEVIEVE CUA IT TAKES less than two minutes to knot a Hermes scarf round one's collar, drape it over one's shoulder or tie it round one's head in an elegant chignon. But more than two years elapse from the moment a theme
        693 words
      • 899 13 CINEMA: Tha Witch** of Eaatwlck starring Jack Nicholson, Char. Susan Sarandon and Michelle Pfeiffer. Showing at Lido: 11; 1.30; 4; 6.45; B.IS. Tha Klndrad— starring David Allen Brooks. Amanda Pays, Talia Balsam and Kim Hunter, Rod Steiger. Showing at Cathay: 11; 1.30; 4; 6.30; B. Tha Untoachabtaa starring Kevin
        899 words
      • 435 13  -  STAGE By WALTON MORAIS STRANGELY, at the end of the day, it didn't matter so much that the singing could have been better. You would have thought, if the singing in a musical isn't good, what else is there? But it is to the cast
        435 words
      • 744 13  -  MUSIC By DAVID CHEW HE WAS BORN Harry Webb on Oct 14. 1940 in Lucknow, India, but he changed this name to Cliff Richard after he returned to Britain and pursued the bright lights of a singing career. The year was 1958
        744 words
      • 504 13  -  ART By VANESSA LEE WHEN FRED TING left Singapore in 1970 to study graphic design at Perth Technical College, the lure of the bush was so strong that he decided to stay. Now, 17 years after winning various awards and exhibitions in Australia,
        504 words
    • Executive Lifestyle: Sports
      • 521 14 BOXING Reuter TYRELL BIGGS, who has looked very vulnerable in two of hit recent bouts, reckons he has a plan worked out for his bid to take the undisputed heavyweight championship away from Mike Tyson on Friday night (Saturday morning, Singapore time). To counter the
        Reuter  -  521 words
      • 361 14 AFP THE Frank Bruno-Joe Bugner show reached new levels of hype on Thursday as the boxing giants brushed shoulders for the first time at a packed press conference at White Hart Lane in London. Bugner, with his familiar arrogant swagger, stared long and hard
        AFP  -  361 words
      • 127 14 CRICKET Reuter TRANSACTIONS on the Bombay Stock Exchange may fall by as much as 75 per cent during key World Cup cricket matches while millions of dollars change hands in illegal betting. "The World Cup has provoked a lot of interest among those who are not
        Reuter  -  127 words
      • 250 14 BASEBALL AP FRANK VIOLA and Tim Laudner, the Minnasota Twins' openingday battery, will have to pay special attention to the St Louis Cardinals' speed when the world series opens on Saturday night. "I don't think anyone in the American league compares to
        AP  -  250 words
      • 805 14  -  BRIDGE By MIKE THUMBA THE Inter-Clubs' Bridge League Games are going on now. I have watched most of the games held at various club premises. A common complaint from the younger players is that they often get bad hands hands with which they can't open any bidding.
        805 words
      • 526 14  -  RACING on TMCK with Brian Miller THERE WILL BE no stopping Fearless Judoka from scoring in Penartg this afternoon. The four-year-old by Without Fear haa never looked so good and It'll take a horse with tremendous speed to cut him down in
        526 words
      • 299 14 GOLF Reuter FOUR SEEDED PLAYERS, including Severiano Ballesteros. having apparently averted humiliation, set out on Friday to complete unfinished business in the World Matchplay Golf Championship in Wentworth, Engaland. Spain's Ballesteros. Britons Sandy Lyle and lan Woosnam, together with Mark McNulty of South Africa, all trailed
        Reuter  -  299 words
      • 176 14 AP SCOTLAND, with a one-over-par team scors of 220, moved into the lesd st the end of the opening round of the insugural WPGA World Team Golf Challenge tournament on Thursday in England. With the best three scores of ths fivs-strong tssm counting. Scotland finished
        AP  -  176 words
      • 343 14  -  TRIATHLON By WALTON MORAIS SOMEONE ONCE CALLED marathon runners "Legionnaires of the Damned'. If that be the case, then 220 triathletes this weekend are surely doomed. Not only do triathletes swim two kilometres, they also cycle 65 kilometres and then round off the gruelling
        343 words
    • Executive Lifestyle: Personal Investment
      • 912 15  -  MARGIN TRADING BEonnßrSi CORfIERm. By RAMESH CHANDIRAMANI FLIPPING through the stockmarket and companies sections of the daily newspaper, BT readers would have probably seen the various advertisements offering attractive share loans or share financing schemes. Whatever the package, in essence they all
        912 words
      • 435 15  -  CHART PIIIINT —"M"- by RC FOR A CHANGE and to provide a sense of perspective, Chart Point this week presents the latest technical views of two well-known analysts Adriaan Schrikker and Oavid Fuller. Judging from the way the point-and-figure chart of the Straits Times Industrial
        435 words
      • 1090 15 BULLION OVER THE LAST TWO YEARS. Japan has shaped up as a huge investment market for precious metal investing, especially gold. Last year, the island kingdom emerged as the world's single biggest buyer of gold, with imports reaching 606 tonnes. About half of this
        Source: Yamaichi Research Institute  -  1,090 words
      • 841 15 WALL STREET NYT THE FOUR most dangerous words in investing are "this time it's different", says John Templeton, a highly regarded 74-year-old mutual fund manager. At stock market tops and bottoms, investors invariably use this rationale to justify their emo-tion-driven decisions. Over
        NYT  -  841 words
      • 398 15 ART TRADE by Sotheby's Research Department IT WAS A BUSY WEEK in the art market, typical of the early season routine. A large number of sales took place, but only a few were of significant importance. While the major events of the previous week were
        by Sotheby's Research Department  -  398 words
  • Page 11 Advertisements
    • 99 11 Win a top prize Down Under A SPECIAL BT supplement Destination Australia surveys the goings-on Down Under and offers, at the same time, a special chance for BT readers to win a top prize of a six-day stay for two at coastal Wirrina Resort, 90km south of Adelaide, including round-trip
      99 words
    • 108 11 The Hour Glass premier watch Dourique with the largest range of watches in these 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. li t«i
      108 words

  • Page 12 Miscellaneous
    • 2433 12 Brando, Masterworks and the Africans Movies It was made 15 years ago, but The Godfather still packs a punch. Based on Mario Puzo's novel on the life and times of Mafia patriarch Don Corleone (Marlon Brando) and family, it's masterfully done, and won Oscars for best picture, actor (Brando) and
      2,433 words



  • Page 15 Advertisements
    • 28 15 BT welcomes investment ideas and viewpoints from brokers, bankers and other readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, S'pore 0923.
      28 words
    • 239 15 NOTICES OFFICIAL NOTICE PROPOSAL TO CHANGE OF SHIPS' NAME We, Pan United Shipping (Pte) Ltd of 33 Tuas Crescent, Singapore 2263 hereby give notice that in consequence of our purchase of 'NWCMPL 21', we have applied to the Registrar of Singapore Ships, under Section 417 of the Merchant Shipping Act
      239 words
    • 381 15 In the Matter of THE COMPANIES ACT (CHAPTER 90.) AND In the Matter of WATA SHIPPING (PTE) LTD (In Member* Voluntary Lis nidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 306 of the Companies Act, Chapter 50., the final meeting of the members of the
      381 words
    • 157 15 In the Matter of THE COMPANIES ACT (CHAPTER 90) AND In the Matter of PTE LTD (In Member* Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Chapter 50 the final meeting of the members of the Company will be
      157 words

  • STOCK EXCHANGE OF SINGAPORE
    • 4184 16 THE SINGAPORE stock market, acting in sympathy with tha plunging Naw York markat. fall haavily throughout tha day yasterday in fairly moderate trsding. Losars lad gainars 174 to 10 Tumovar roaa to 19.54 million sharas worth $71.50 million from Thursday's 16.74 million sharss
      4,184 words
    • 202 16 Rises SINGAPORE tod NM Nw AMM Ami Cantos sot Om M Km* OIK. 01 s FAN 5*0 330 •25 390 Falls 310 1*90 •10 14*0 1330 19 10 9 4 •104 -•0 -55 -50 -50 "3 -4ioi TOV ♦*****03 ST Mm** 1434b 17 391X4* WNMk 707.14 S«
      202 words
    • 3399 16 BID aad offer pricw officially listed sad twiriw— la aad rpponea to ok Shock rirmiy of Shtipgt yr*why wltt the lahractat» lalott of IJM aatta Time Settlement Contract» are quoted after the word "SETT'. Btf Board deak (la lots of UIO nait>) are quoted after
      3,399 words
    • 244 16 PUNLOP MALAYSIAN IdMm im 26th AQM at 4 Jalan Tandang, ***** Pwtaling Jaya, Salangor today at 10am. MALAYAWATA STEEL Ml* 27th AQM at tha Confaranca Room, Malayawata Staal Bhd, Prai, Provinca Wallaaiay on Monday, Oct 19. at noon. CONSOLIDATED PlantaSona Bhd; 8th AQM at Tha Qrand Hall, Hotal
      244 words

  • COMPANY NEWS
    • 929 17 Cur i on! b ■oate Oalo Totoi (or Total tar payment data 6*000 poyoMo ■to yoor toot y**r A Enterprise* 4%l Sop 25 Oct 9 Oct 27 5% Austral Amai 15% Oct 26 No* 7 Nov 25 15% Ayor Hftom tub 17%%lbJ Oct 8 Oct 23 Nov 23
      929 words
    • 2892 17 THE KUALA LUMPUR Stock market fell substantially in dull trading yesterday. Investors' mood remained depressed and the weak sentiment persisted throughout the sees ion with barely a flicker of life. Virtually all categories of stocks attracted little (merest. Blue chips and quality
      2,892 words
    • 466 17  -  Shareholders approve rights issue and debt conversion plan By LORETTA McLAUGHLAN TRADING in long-suspended United Pulp Paper will resume on Monday on the Singapore stock exchange following yesterday's hitch-free extraordinary general meeting. UPP shareholders approved a $16.25 million rights issue and a plan to convert
      466 words
    • 179 17 Bernama ES PROPERTY DEVELOPER Malayan Credit Ltd has forecast a group pre-tax profit of $4.6 million for the year ending March 31, 1988. It said in a circular on its proposed rights issue that after-tax group profit less extraordinary item is forecast at $2.3
      Bernama ES  -  179 words
    • 397 17 MBT BERJAYA CORP director Ghazi Alias Hasbullah bin Haji Ramli has denied that the company's proposed acquisition of Sports Toto through an issue of new shares was a deliberate bid to dilute Palmco's stake in Berjaya. Approvals for the acquisition have been received from
      MBT  -  397 words
    • 322 17 Bernama THE KEDAH government hopes Promet Bhd will revive its plan to develop Langkawi as the foremost tourist resort in the region. The project was shelved two years ago because of financial problems. Mentri Besar Datuk Seri Haji Osman Aroff said the approval by 13
      Bernama  -  322 words
    • 109 17 HONGKONG Hongkong index Friday *****9 Thursday 2539.69 WNt ago *****5 Hang Song Index Friday 3783 20 Thundoy *****4 WnI ago 3682 42 All Industrials Friday 3194.3 Thursday 3211.3 WMk ogo 3314 6 NEW YORK Dow Jones Thursday 2355.09 W«dn«doy 2412.70 WMk ago 2516.64 TOKYO Nikkei Avorogo Friday *****74
      109 words
    • 267 17 Mowoqti' prtcM DBS Bank for Oct 17 19 SkaMon Gr Fund Japan Gr Fund 107 1.5S 1.12 140 Singapore Unit Trust 5hi<ilon Thrift Fund 099 099 Th® Co—W 1.19 126 T>» Soiwji Fund IjU 1.13 UOB Manogo UnHund LMwbond mont S'pora Prog Fund S'pora Sac fwd S'pora tavwt
      267 words
    • 223 17 Bernama ES TDM BHD has acquired a 30 par cant interest in TMG (M) Sdn Bhd (TMG) which oparatas tha Malaysian A&W fast food chain. Tha acquisition amounting to 2.63 million ordinary sharas of Msl aach at 75 cants par shara in
      Bernama ES  -  223 words
  • Page 17 Advertisements
    • 119 17 SUN HUNG KAI SECURITIES PTE LTD INSTITUTIONAL SALES invites candidates to work as a team to develop/service regional clientele in Singapore, Malaysia and Hong Kong securities. We back you up with resources and provide the environmsnt. Are you capable of hardwork to excel? Our requirements are:INSTITUTIONAL SALES EXECUTIVES (2) Minimum
      119 words
    • 211 17 MHSI 1 OVERSEA-CHINESE BANKING VjK/ CORPORATION LIMITED (Incorporated In tie Republic of Singapore) ANNOUNCEMENT RIGHTS ISSUE OF 50,707,151 NEW ORDINARY SHARES OF $1 EACH AT $3 PER ORDINARY SHARE PAYABLE IN FULL UPON ACCEPTANCE ON THE BASIS OF ONE NEW ORDINARY SHARE OF $1 EACH FOR EVERY $10 ORDINARY STOCK
      211 words

  • 503 18  -  By MARTIN SOONG UNIONS art being urged by the government to push employers harder at the bargaining table for retirement at 60. ss Singapore's labour crunch continues. According to the latest issue of the National Trades Union Congress publication NTUC New*, Labour
    503 words
  • 150 18 AP AFP COUP LEADER Colonel Sitiveni Rabuka yesterday welcomed the raaignation of tha Qovarnor Ratu Sir Panaia Ganilau, Quaan Elizabeths representative in Fiji and thankad tha Quaan for accepting it Col Rabuka aaid ha would remain aa head of tha interim military government but reiterated
    AP; AFP  -  150 words
  • 168 18 AP AFP THE DOMINANT Tamil Tigers militia has agreed to a ceasefire after a sevenday Indian army siege in Jaffna left more than 380 Tamil rebel fighters dead. The Liberation Tigers of Tamil Eelam (LTTE) issued a statement through the Sri Lankan Red
    AP; AFP  -  168 words
  • 444 18 AP THE JAPANESE government announced on Thursday s list of msjor products, including supercomputers and airplanes, it planned to buy from Europe and the United States to help allay criticism of its huge trade surpluses. The goods were valued at a total of 30.7 bHlion
    AP  -  444 words
  • 193 18 UPI THE United States has shelved ideas of expanding western shipping defences in the Gulf because European allies have refused to support military aid for all neutral vessels attacked by Iran, officials say. According to a Nato source, the governments of
    UPI  -  193 words
  • 244 18 UPI. PHILIPPINE riot police held thousands of striking workers at bay outsida the presidential palace yesterday after aidss said they were taking "vary seriously" a threat to assassinate President Corazon Aquino. "We have information that she is going to be assassinated," said press secretary
    UPI.  -  244 words
  • 479 18  -  Local subsidiary opens today By JEFFREY TSANG WHEN GERMAN computer manufacturer Nixdorf opens its Singapore plant today, its investment to date would be about $90 million, $30 million more than it had originally committed to the Singapore government. And it expects to take delivery of a
    479 words
  • 80 18 Reuter COMEX gold futuree approached Thursday's highs in an early rally yesterday, spurred by further dollar slippage. The Londonbased arbitrage phone dealing lines were still operating despite the severe weather in England, Comex floor brokers said. December gold gained US$4.2O st USS472UX) sn ounca. Local tradars favourad long
    Reuter  -  80 words
  • 69 18 Reuter BLUE CHIP stocks on Wall Street headed lower as declining issuss continued to dominats gainsrs in earty trading yesterday. Tha dollar roaa on buying promptad by new shooting incidants in tha ck by tha aama news. T-bond prices roaa. but gloom in the slock market ignored
    Reuter  -  69 words
  • LATE FILE
    • 38 18 Bernama FEASBWTY HixHM Hfl KM privatisation of tha Lu niit Naval Dockyard havi jbaan completed and will submitted to fhm Cabim ;aoon. Malaysian Defence I Mnistar Tengfcu Ahmad RUN «ddaan Mid yaetorday. Ba ĕama
      Bernama  -  38 words
    • 36 18 Reuter thai ARMY chief palnaral Chavalit Yongchaiyudh, tipped aa a possible rfuturs prima miMfcr. Mm today tor an unprscedantedfSoviat via* «ttt'ihould tM) hia imsge as a soltflMtatseman, J diploma* -Mid.
      Reuter  -  36 words
    • 32 18 AFP A LEADING South Koraan shipping axacuttua was santancad yaatarday to aavan yaars in prison for embazzling milliona of dollars in compsny funds, court officisls said. AFP
      AFP  -  32 words
    • 37 18 AFP PARLIAMENTARIANS from Iran and Iraq, Mi Bangkok tor a contoranca of tha Intor-Par-liamantary Union, Jofnad yaatarday in adopting a draft raaolution calling for a paacafm and to ttw QuH War.
      AFP  -  37 words
  • Page 18 Advertisements
    • 7 18 US labour group of hypocrisy, Pago 2
      7 words
    • 211 18 TEONQUES D4*NT-G4?DE SWISS MADE SINCE 1860 VG Tf>. m yr-sy. c-K <» m rJLf fcs The only watch designed to go with wrinkled shirts, sweaty palms and life in the fast lane. '"•kSfc" 5 It L TAG HEUER SHOWROOMS 1 SERVICE CENTRES: SINGAPORE: *02-26/27 HILTON INTERNATIONAL SINGAPORE. 581 ORCHARD ROAD.
      211 words