The Business Times, 7 November 1987
1987-11-07
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The Business Times
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Title Section12 1987-11-07 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, November 7-8 1987 75 CENTS12 words
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Article169 1987-11-07 1 Overseas markets Friday HK Hang Seng Index 2113.67 152.77) Tokyo Nikkei Average *****.02 (+165.37) Sydney All-Ordinaries 1237.4 (-13.1 Thursday New York (Dow Jones) 1985.41 40.12 London (FT 30 Index) 1287.9. 32.3 (Friday noon: 1,268.2; -19.7) Exchange rates US$: 135.05/15 yen 1.6750/60 DM SS2.0455/65 MS: SS0.8216/23 Simex Euro-S169 words
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253 1987-11-07 1 Reuter AP JAPAN will agree to a meeting of the Group of Seven if the US asks for one after it comes up with concrete measures to cut its budget deficit, Vice-Finance Minister Yoshihiko Yothino says. But Mr Yothino, at aReuter; AP - 253 words
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423 1987-11-07 1 ALVIN TAY - By ALVIN TAY Banking Correspondent THE MASS Rapid Transit system, which goes into operation today, will be insured to the tune of $425 million against damages to trains and other properties as well as claims by passengers. The insured parties are Singapore MRT423 words
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398 1987-11-07 1 THE INTERNATIONAL FINANCIAL CRISIS THE battered US dollar slid to new lows in Europe yesterday at the opening of the foreign exchange markets there. It reached historic lows on the Tokyo foreign exchange market, closing 0.45 yen lower at 135.50,398 words
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Article, Illustration399 1987-11-07 1 ELAINE KOH - By ELAINE KOH MOST ASIAN stock markets rebounded yesterday, heartened by rallies overnight in Wall Street and London as well as a new round of interest rate cute in several countries. This more than offset the continued weakness of the US dollar which traded to a399 words
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Article, Illustration347 1987-11-07 1 PATRICIA M SCHERSCHEL - Crash poses no immediate threat to economy Dr Hu By PATRICIA M SCHERSCHEL Finanancial Editor THE GREAT STOCK market crash of '87 should not have any significant impact on the Singapore economy over the nearterm, says Finance Minister Richard Hu. Although he declined to predict what would happen in 1968.347 words
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Page 1 Advertisements
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Advertisement305 1987-11-07 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM PAGE 3 Low US$ unlikely to raise Japanese price* PAGE 8 SEC studying ways to boost market In crisis LSE Imposes curbs on backlog firms PAGE 10 Letter to the Editor on The Crash of 1997 and the lemming syndrome BEGGAR-THY-NEIGHBOUR trade policies may305 words
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Advertisement157 1987-11-07 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM V All aboard! Page 11 Personal Trivia The day I lost the Pulitzer Prize Page 11 Romance Move over SDU, here comes MRT Page 12 Weekend TV TV programmes for today and tomorrow Page 12 Slots te Watch J Taylor, Loren and The Graduate—157 words
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HOME NEWS
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489 1987-11-07 2 MARTIN SOONG - By MARTIN SOONG BEGGAR-THY-NEIGHBOUR trade policies may emerge if Asian-Pa-cific nations restrict oil imports to protect domestic refineries, according to a senior analyst with the United States Congress' Office of Technology Assessment. Ms Joy Ounkerley, speaking yesterday at the 4th Asean Energy Conference in489 words
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Article113 1987-11-07 2 PROFESSOR Ezra Solomon, an expert in finance and economics, will be the next Lee Kuan Yew Distinguished Visitor. Dean Witter Professor of Finance at the Graduate School of Business, Stanford University, Professor Solomon will be in Singapore from Nov 9 to 20. During his stay, he will deliver113 words
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Article37 1987-11-07 2 BT REPORTED yesterday that the public tender of 38 Urban Redevelopment Authority shophouses in Tanjong Pagar had attracted 87 bids. The tender, which closed on Thursday, actually attracted 84 bids. BT regrets the error.37 words
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152 1987-11-07 2 A FORUM to promote religious harmony in the Republic will be held this evening at the Gandhi Memorial Hall. Organised by the Inter-Reli-gious Organisation, Singapore, the forum will bring prominent personalities of established religions to a common platform to discuss ways to ensure religious harmony.152 words
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Article366 1987-11-07 2 DAVID CHEW - By DAVID CHEW THE SOVIET UNION is holding its first Singapore 'USSR Today exhibition to promote bilateral trade which declined from US$4OO million in 1984 to about US$lOO million last year. While emphasising that business links have to be "mutually beneficial", the Soviet Ambassador to366 words
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214 1987-11-07 2 Hotel labour demand an estimate THE HOTEL INDUSTRY will require 1,500 more workers in the next three years as more rooms come onto the market. This is the projection of the Singapore Hotel Association Training and Educational Centre (Shatec). It is based on the requirement of one worker to a214 words
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208 1987-11-07 2 A GROUP of 11 local fish processors will be going to Japan to learn more about the upgrading and mechanisation of their trade. The group will be led by two officers from the Primary Production Department and a Japanese expert. A208 words
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Article189 1987-11-07 2 Seminars and courses Nov 17-20 Metrology in Industry Singapore Singopore *****77 Institute of Institute of Standard Standard and Industrial Industrial Research Research Nov 18-20 Micrographics Theory Hilton Hotel Micrographics *****27 ond Practice Society of Singopore Nov 18-25 Systems Installation NPB Building Arthur Andersen *****77 Associates Nov 19 Investment189 words
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520 1987-11-07 2 WILLIAM CHIA - By WILLIAM CHIA THE SINGAPORE office of an international commodities trader has adopted new strategies to stay ahead of its competitors in the countertrade arena. While parent company SaficAlcan is a largely conservative group, the Singapore office, Alcan Trade (Pte) Ltd, has taken an aggressive520 words
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Article1075 1987-11-07 2 AT CONVENTIONAL WHARVES Sinor Mega a olongside 07.11/2300 Bangmod 15 0711/1130 08.11/1200 VmmI Bar* i Arrival Departure Igloo Sky J2 07.11/1830 09 11/0700 KEPPtL WHARVES Jorku J3 07.11/0600 08.11/2300 <34 P Sumotera J3 07.11/0600 0811/2300 Arias alongside 0611/0700 Son Somudro il 07.11/0700 07 11/1700 Booting Es Fuji1,075 words
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Page 2 Advertisements
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Advertisement68 1987-11-07 2 Treat your family to a sumptuous buffet lunch at the Chao Zhou Garden Restaurant. A delectable spread of Teochew provincial dishes and dian xin accompanied by desserts. Deliciously wholesome. And different. Eat all you can for only 11.50+ per adult and $9.50++ per child. Available on Sundays Public Holidays. s.s.s68 words
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Page 2 Miscellaneous
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Miscellaneous157 1987-11-07 2 City Max/ Note <°Q 25/08 Fotr 08/02 Cloudy 09/06 Rata 28/23 dear 31/23 Fair 31/24 Cloudy 08/00 Cloudy 22/16 Rain 09/02 Ciear 10/06 Cloudy 24/19 Cloudy 10/03 Overcast 22/17 Cloudy 12/-01 Cloudy i 19/13 Rain 26/11 Clear 05/00 Cleor 22/15 Roln 28/21 Cloudy 20/13 Otor 08/07 Ooudy 30/25 Rain 12/07157 words
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OVERSEAS
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297 1987-11-07 3 AFP CHINA IS drawing up a public servants law specifying their basic rights and obligations in a bid to improve the administrative system. Quoting a Ministry of Labour and Personnel Policy Research Office official, the China Daily newspaper said on Thursday that underAFP - 297 words
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Article115 1987-11-07 3 AP AN ICEBERG about 40km wide has broken away from Antarctica and is drifting in the Ross Sea, the National Science Foundation reported on Thursday. "The size of the iceberg in human terms is staggering. If you could somehow transport it to California and melt it,AP - 115 words
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Article932 1987-11-07 3 ARRIVALS Operator Service Local From number time OA OA47I 0015 ATH SU son 0145 LAX/NRT UA UA805 0120 SfO/HKG MAS MH619 0125 KUL CAl Q333 0405 TPS SU S041 0615 MAA MK MK746 0725 MRU MAS MH601 0730 KUL MAS MH681 0820 KUL SU SQ417 0835 JED/ROM932 words
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206 1987-11-07 3 AP A REPUBLICAN Senator on Thursday introduced a proposal for compromise between White House and congressional negotiators looking for ways to reduce the US budget deficit. Some were optimistic after seeing the compromise offered by the Senate budget committee's top Republican, Senator Pete Domenici. ButAP - 206 words
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Article483 1987-11-07 3 Study says US faces large trade deficits and growing foreign debt NYT THE US faces large trade deficits and ever higher foreign debt well into the next decade, a study by the Congressional Budget Office showed on Thursday. The study found that a modest trade surplusNYT - 483 words
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419 1987-11-07 3 UPI THE VALUE of the dollar may drop through the showroom floor but tenacious Japanese businessmen are not about to raise the price of a Toyota Camry or Sony walkman, company officials said in Tokyo. When the dollar loses value, prices ofUPI - 419 words
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Page 3 Advertisements
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Advertisement61 1987-11-07 3 fI If \m y§ I r I if The business person's choice, every I I II I II I Tuesday, Thursday, Saturday and I II \j II m Sunday. Leaving Changi Airport at •J. X JL 22:05 hours and arriving at Lester B. Pearson International Airport the following day. Call61 words
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Advertisement175 1987-11-07 3 TEO-NQLJES D4/MT-G43DE SWISS MADE SINCE 1060 VG i watch for those whose targets aren't always found on sales charts, > >«§*#; ft ><w W v: i /a z p» v 3r f >' f 'i' 'C K'.'ifc i t x -r l Jd!~j£h J" 1 f TAG HEUER SHOWROOMS A175 words
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Page 4 Advertisements
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Advertisement463 1987-11-07 4 CHAIRMAN'S MESSAGE The Straits Trading Company was established 100 years ago on Bth November 1887 for the purpose of introducing a more efficient and "modern" method of smelting tin in Malaysia. The Company has prospered notwithstanding severe set-backs as a result of external events: the two World Wars, the Great463 words
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Page 5 Advertisements
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Advertisement184 1987-11-07 5 One generation builds the road; the next generation travels down it. A Chinese proverb. C ongratulations Straits Trading on your Centennial. May you continue to prosper under the inspiring leadership of your Chairman Tan Sri Tan Chin Tiian PSM, CBE, JP F&N GROUP Ol MBL GROUP fjgH Subsidiary Companies: Fraser184 words
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COMMODITIES
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Article377 1987-11-07 6 Crude palm oil futures finished steadier yesterday on the KLCE in slightly active trading. Dealers said the bourse was in line with the physical market while short-covering ahead of the weekend also pushed values slightly higher. Spot month November and December added MsB and $5 each to close377 words
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Article24 1987-11-07 6 AP PRESIDENT Reagan has signed a proclamation that establishes a new. 90-day US import quota on cotton, the White House announces. APAP - 24 words
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Article396 1987-11-07 6 HONGKONG: Gold closed firmer in fairly active trading yesterday on bargain hunting following the sharp setback in New York, dealers said. They said there was considerable physical buying from local traders who were encouraged by the weakness of the US dollar. Japanese traders were active sellers in the396 words
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Article139 1987-11-07 6 Reuter CBT SOYBEAN futures eased from midday highs but still closed up 10 to 61/2 cents per bushel in moderately active trade on Thursday. January settled at $5 46 after posting a 13cent range on the day. Soybeans continued to trend higher after closing on a strong note onReuter - 139 words
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Article154 1987-11-07 6 Reuter CBT WHEAT futures closed with prices 1-1/2 to 1-1/4 cents higher per bushel in light trade on Thursday. December settled up 1-1/2 cents at $2.85-1/2. Traders said steady commercial and professional buying supported values. The weaker US dollar was another positive market factor, they added Strength from theReuter - 154 words
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Article188 1987-11-07 6 Reuter SINGAPORE The market closed higher yesterday with Dec 1 RSS buyers quoted at 209.50 cents a kilo, up 3.50 cents from Thursday's close, dealers said. The morning session ended 1.50 cents higher on lack of follow-through buying. after opening 3.50 cents firmer following higher Tokyo rubber prices, theyReuter - 188 words
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Article250 1987-11-07 6 RAS prices in S cmM% FOB in bale NOON CLOSE Buyers Sell•ro Buyers Sellen Int 1 RSS Prompt 208.50 209.50N 210.00 211.00N tnf 1 RSS Dec 87 207.50 208.50 209.50 210.50 Irrt 1 RSS Jon 88 207.00 208.50 209.50 210-50 Int 2 RSS Of 206.50 208.50N 208.00250 words
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Article79 1987-11-07 6 (cantt/kg, 1 -tor pottan) DECEMBER 87 JANUARY 88 (currant month) (forward month) RAS NOON NOON Ivyan Saten luytn SS* 30 306JO 210.50 208.50 210.50 sst so 207.00 209.00 307.00 209.00 MRELB tuyrl f-U *fltn tvyan S«*tn SMI CV 263.50 265.50N 364JO 266.50N SMS 1 263J0 265JON 364JO79 words
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Article121 1987-11-07 6 Bernama THE SUPPLY of rattan in Malaysia's forests will be depleted in a few years if the free outflow of the commodity is unchecked, a government agency has warned. The Malaysian Timber Industry Board in the latest issue of its monthly bulletin said with the banning ofBernama - 121 words
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Article244 1987-11-07 6 Chinese Produce Exchange Sellers' noon doting prices on Nov 6 (SS/100 kg) Coconut oil Bulk FOB 93.00 CHd drum FOB 103.00 New drum FOB 107.00 Copra Mixed (loose) 53 sellers Pepper Closing prices on Nov 6 (US $/tonne, FOB) White Rice 100% 1st doss 100% 2nd doss 100%244 words
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Article75 1987-11-07 6 Reuter CONTINUED buying demand reflecting the etrength of eterling against the ringgit pushed the Kuala Lumpur Tin Market another five cents higher yesterday, to dose st M 517.31 a kg. Bids wsrs active at the opening with 175 tonnes, but sellers offsred only 64. Turnover rose to 124Reuter - 75 words
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Article73 1987-11-07 6 THE oil markets maintained > a bearish tone yesterday. There was relatively lit- tie trade as no traders were prepared to face high risks by taking open posttions. Dutx* (OK) WTtioi US$ bo»r») 16.70 Owg« -0.05 WTl (OK) 1898 -0.14 Products (FOB S'pore) US$/borr*t Oonp* 23.50 untf,73 words
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Page 6 Advertisements
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Advertisement42 1987-11-07 6 Congratulations to THE STRAITS TRADING COPHMYim on its Centenary James Capel Co, James Capel (Far East) Limited International Stockbrokers ACI ASIA GROUP OF COMPANIES UNITED ENGINEERS LIMITED GROUP OF COMPANIES Best Wishes Great Eastern Life We take care of you for life42 words
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BANKING AND FINANCE
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Article330 1987-11-07 7 PATRICIA M SCHERSCHEL - By PATRICIA M SCHERSCHEL THE COUNTY of Los Angeles. California, will soon be tapping the financial markets on this side of the Pacific Rim in a big way. Later this month, the county will launch a US$l5O million issue of Euro/Asian' commercial paper. County330 words
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Article575 1987-11-07 7 DECEMBER Eurodollar opened slightly higher yesterday at 92.69 on prospect of lower interest rates worldwide following West Germany's reduction of the Lombard and repo rates and Switzerland's interest rate reduction. Position adjustments ahead of the US unemployment figures and the weekend saw prices fluctuating between 92.66 and 92.74 in575 words
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Article1561 1987-11-07 7 SINGAPORE: The US dollar closed slightly lower against major European currencies yesterday but little changed against the yen. after fluctuating about 100 basis points on short-covering and selling in moderate but nervous trading, dealers said. The dollar started on a weak note on some selling and hit a1,561 words
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Article86 1987-11-07 7 Treasury bills Period Issue Yesterday's closing Day's code Maturity 610 OFFfR HIGH LOW 3 months RQ*****W 4.2.88 3-52 3.47 3.65 3.45 6 months BS*****S 21.4.88 3.46 3.41 3.70 3.41 1 year BY*****S 22.09.88 3.52 3.47 3.80 3.40 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing86 words
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Article, Illustration180 1987-11-07 7 Indicate* the average of the prima landing rate* oI 12 major banks in S'pore Interbank market rates (offer/bid) on Nov 6 us$ DM SWFC Y«o 7 days 6 5/8 1/2 9 1/4 3 11/16 9/16 2-13/4 3 3/4 3 5/8 1 4 11/16 9/16 9-17/1 3 11/16180 words
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Article65 1987-11-07 7 Reuter SUMITOMO BANK Ltd has denied press reports that it planned further talks with Goldman Sachs and Co on possible business tie-ups "Recent reports on possible talks concerning business tie-ups between Sumitomo Bank and Goldman Sachs are unfounded," a Sumitomo Bank spokesman said in a statement on Thursday.Reuter - 65 words
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Article211 1987-11-07 7 Interbank rates at 3pm yesterday: MO OFFER cr«M portly cftoago Local dollar? to c mo unit of foreign currency: US dollor 2.0455 2.0405 2.8196 -27.45 Storting pound 3.6338 3.6376 7.3469 -50.54 Awtrolkm dollar 1.3950 1.3977 3.4286 -59.31 NZ dollar 1.2763 1.2831 3.4286 -6277 Canadian dollor 1.5472 1.9*92 3.4206211 words
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Article133 1987-11-07 7 Gold futures on Nov 5 100 troy ounces USS par troy a jnce OPM M«h Low Mi Nov 456.00 457.00 456.00 457JO -8.70 Ok ***** 462.30 456.00 459.20 -9.00 ion 459.50 459JO 459.00 461.70 -9.10 m> ae 464 00 467 80 461.00 464.80 •9 30 Ape 471.50133 words
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Article63 1987-11-07 7 THE OVERNIGHT rate on the Singapore interbank market rose by 2% points to end at 6% per cent yesterday. The one-month term rate rose by 5/16 point while the two and threemonths rose by 1/4 point each. S$ Interbank rates at 7pm yesterday: owe» to Ow- *+> 363 words
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Article1206 1987-11-07 7 INTEREST RATES OPTIONS mbar 6, 1987 EURODOLLAR (SMCX) Mgh >K 87 ca«a In Oaa Dac 87 paM HM laa 8aa 8900 •950 321 9000 271 9050 221 1 9100 171 1 9125 1 48A 147 9150 123 9175 101 9200 7M 79 9225 58* 53 12 12 14 92501,206 words
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212 1987-11-07 7 Reuter SOUTH KOREA'S soaring trade surplus is forcing daily revaluation of its currency and the psychologically important barrier of 800 won to the dollar will soon be shattered, government officials said on Thursday A senior trade ministry official said in Seoul that South Korea sReuter - 212 words
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Page 7 Miscellaneous
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Miscellaneous70 1987-11-07 7 Doonesbury m m <3 IK 51 i m Wi m THINGS ARB REACHING A BOIL IN THERE, SIR. THE EVENTS OF THB LAST FEW WEEKS HAVE REALLY TAKEN .THEIR TOLL. 2* A /S 11 1 BY GARRY TRUDEAU TH/SCWT B6HAPPENIN6 SHOULP ICAN7 BE THE FIRST HIE CALL HJARPEN SVBRTO PREMSHIN6-70 words
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WORLD MARKETS
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209 1987-11-07 8 Reuter SECURITIES and Exchange Commission Chairman David Ruder said the SEC is investigating ways to increase capital to buoy markets in bad times. Mr Ruder said on the NBC-TV "Today" programme that the SEC was •also investigating whether brokers traded off theirReuter - 209 words
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Article112 1987-11-07 8 Reuter THE LONDON Stock Exchange said it had informed a small number of member firms that from Nov 9 their trading woulf be restricted by a specified number of bargains per two-week account period until the firms settlement backlog had improved An exchange spokewoman said lessReuter - 112 words
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Article1000 1987-11-07 8 New York Reuter STOCKS on the New York market were up broadly on Thursday and blue chips reached session highs. The market gained after a series ot interest rate cuts including US bank prime rates The dollar fell on Treasury Secretary James Baker s remarkReuter - 1,000 words
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Page 8 Advertisements
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Advertisement885 1987-11-07 8 umtsmn ui m HkSm w- u J. -'uTV-K THE MOST WONDROUS BUFFET LUNCH IN TOWN Enjoy a gourmet buffet luncheon at an ungourmet price' For starters, toke your pick of our cotd dishes prawns on ice fresh oysters smoked salmon melon and dried ham, vegetable tewne mixed seafood saloa cooked885 words
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Advertisement190 1987-11-07 8 J Scandinavia at The Belvedere The Belvedere's Scandinavian buffet luncheon. An incredible selection of more than 60 authentic favourites from Denmark, Sweden and Norway. November 5 to 30. 12.00 to 2.30 pm daily. Adult: $31 /Child: $15+ Tlx matUftment reserves the right to chmgc tlx programme, $f/> fltur Come taste190 words
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WORLD MARKETS
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1950 1987-11-07 9 London Reuter EQUITIES on the London yesterday turned miied at the official 0900 GMT apening as profit-takers tock advantage of the initial hgher offers, but volume was fairly light on the last cay of the account. Shares were marked up earlierReuter - 1,950 words
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Article66 1987-11-07 9 Reuter ASSOCIATED British Foods PLC has allowed its £767 million otter for S W Berisford PLC to lapse. AB Foods said in a statement Thursday was the first closing date for its 400p a share offer by which time AB Foods had received acceptances representingReuter - 66 words
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Article1528 1987-11-07 9 Hongkong SHARE PRICES on the Hongkong market closed sharply firmer yesterday on strong late buying interest focused on the Cheung Kong group. The Hang Seng Index rose 152 77 points to end at 2.113.67 despite a brief bout of profit-taking that threatened to push the index below1,528 words
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Article131 1987-11-07 9 NOV M Kai ***** -400 WON Kangwon Ind Kia Motor ***** -600 Ch#«l SuQif ***** -300 Da#4im iod Oaewoo Corp ?6800 *0020 -300 -1000 -460 -330 •1300 -130 -1500 Kolon Ind Korea Long Term ***** ***** -500 -1000 Daewoo Heavy Daishm Securities Dong Ah Phar ***** ***** ***** *****131 words
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Article528 1987-11-07 9 Reuter SHARE prices closed higher on the Tokyo market yesterday, but off peaks, on buying sparked by Wall Street's rally on Thursday and expectations of lower interest rates worldwide, brokers said The 225-share index closed 165.37 points higher at 22.795.02. off a 22.906.53 peak. On Thursday the average lostReuter - 528 words
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Article451 1987-11-07 9 Reuter SOLID selling pressure among gold stocks following a sharp overnight drop in bullion saw the Australian share market close weaker for the third consecutive session yesterday. Brokers said the fail of almost US$lO to U*****.90 an ounce in New York and further falls in Sydney yesterday morning sawReuter - 451 words
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Article142 1987-11-07 9 NOV M MKT f. Poet Publishing 242 10 Sana Union 384 16 s«am Cement 1371 -54 Ao Kham Thai Siam City Ayudtiya investment 414 -20 Cement 1066 48 Bangkok Agro-tnd 955 -45 S<am Commercial 584 unch Bangkok Bank 337 4 P#nk Bank 0» Ayudnya 344 -a Siam Food Products142 words
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Article310 1987-11-07 9 NOV M NT t Kolin 34 10 ♦03 Kuochan Dev 45 10 -1 3 Lee Chang Yuen All Sincere Indus 3 11 -0 09 Chem Indus 33 30 -1 Asia Cement 70 00 -2 Lien Hwa Indus 40 50 -09 Cathay Cons 71 50 -2 Nan Ya Plas 63310 words
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Article91 1987-11-07 9 NOV M PESOS ♦fMarsteei Oriental B ***** -0 0025 Acoie Mining Anglo Phil Ape> Mining B Atlas Con 6 Baguio Gold Basic Petroleum Benguet Con B First Phil Hidgs lepanto B Marcopper 0 02? 006 23 0017 65 9 050 -0 001 -0 005 -3 -0 001 7 -0591 words
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Page 9 Advertisements
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Advertisement542 1987-11-07 9 "!~$\'*}|>%)[.>?'.'~~.`~)\>)/*^ Enjoy the best jazz entertainment in town amidst tum-of-the-century decor. Plus an exceptional choice of spirits and cocktails. Open spm 2am. 2nd Floor, Westin Plaza. For reservations, call 338 8585 ext ***** or 330 8310. The Westin Plaza Raffles City 2 Stamford Road. Singapore 0617. Westin Hotels Resorts THE542 words
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LETTERS TO THE EDITOR
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Article516 1987-11-07 10 WHILE TEACHERS of geography are probably screaming "Stop the world and let me off" at the result of the Straits Times' straw poll of Singaporeans' grasp of geography, there is actually something positive to be said of the creative innocence of geography that, after all,516 words
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Article, Illustration755 1987-11-07 10 Dear Sir Confidence. I told a bemused friend who saw her hard-earned savings dramatically reduced by events beyond her control since Black Monday. Oct 19. is a funny animal. It can run like a bull, in full flight and seemingly unstoppable. Then,755 words
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Article99 1987-11-07 10 S M Ortega - S M Ortega Financial whiz kid, at the end of it all. Please do recall that, in the final analysis. The market's convulsions, its rise or fall, Are in no way, whatsoever, your personal crisis. Should, however, the market ever tumble And ex-millionaires jump off OUB Centre, Please99 words
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880 1987-11-07 10 Ian Gan - Ian Gan D«ar Sir Now that the 1987 Conference of Singapore Accountants is over, it remains for thostf who participated in the conference to take stock of the issues that were deliberated and to react on matters which could contribute to the well being880 words
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567 1987-11-07 10 Concerned Minority Shareholder - Concerned Minority Shareholder Dear Sir As a concerned minority shareholder of Lum Chang, I would like to register my utter disappointment at the decision taken by the directors of the company to defer its rights issue, and to point out that the567 words
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Page 10 Advertisements
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Advertisement56 1987-11-07 10 BT walcomo* lottors from raadm. Your lattora mini indudo your signature, full numbara, H any. You may add a ptaudonym, if you wish. AddroM your lattars to: Tito Editor. Buainaaa Tim**, 390, Kim Song Rood, Singapore 0823. 1 3 M.GQLF THE SEVVY WW Tighten-up your game Let Sevvy Ballesteros show56 words
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Page 10 Miscellaneous
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Miscellaneous766 1987-11-07 10 CRYPTIC PUZZLE ACROSS 9 Sure it's where you'll find the stay-at-home (2, 2, 5) 10 Conjecture as to whether the man will get up (8) 12 A verbal refusal to recognise (4) 13 Colour and leave (6) 14 The saw is shaking through nervousness (7) 15 The lovely Alice? (5,766 words
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Miscellaneous44 1987-11-07 10 ulßtcW^RazUcßickene suppose. IT\S rny JOINING This Fjßm R UjHPST p\ LO\jSV U£~r otjJ|si FOf? T AK»NJQ, f?eGRCTrPye>L£ 'NCHXhIT I L6AD I OK/ toTTE-N JOB IN '< 1 h j 1 fCW. T-Me TOST Placc. -IJW> r" N ifcJ >' SIGM C'CST LPs V|£_. W£w "7616 A44 words
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Executive Lifestyle
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Article357 1987-11-07 11 A BOOKLET that came with a recent issue of the British newspaper Sunday Telegraph had a list of interesting new products available by mail-order this Christmas. The booklet was titled "The Innovation Report". One garment maker had certainly been innovative it had come up with "genuine357 words
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Article248 1987-11-07 11 TRENDS A SIGNIFICANT NUMBER of women who relocate because of their husband's careers suffer depression symptoms, a trend that is increasing with the prevalence of dual-career couples, a researcher reports in the US. Psychologist Myrna Neims studied 80 dual-career couples who had recently moved to248 words
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Article, Illustration1179 1987-11-07 11 MONICA GWEE - By MONICA GWEE THE TRAINS have been perched on the perimeters of our consciousness since 1983. Today, the first stage of the Mass Rapid Transit system opens officially at 10am, bringing with it literally, a sense of a pipe dream come true. Blase Singaporeans who have zipped inPictures by courtesy of the MRT Corporation and by MAZLAN BADRON - 1,179 words
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Article, Illustration746 1987-11-07 11 WALTON MORAIS - l/VvV*^ With WALTON MORAIS JOURNALISTS are a strange bunch. They just don't know how to take a holiday. Take me for instance. I went home to Malaysia for the weekend, and instead of spending a leisurely time with my family, tried to get746 words
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Executive Lifestyle: Entertainment & Pursuits
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Article, Illustration743 1987-11-07 12 JAIME LYE - ROMANCE By JAIME LYE SHORT OF IDEAS for some place to meet people? Tired of trying to decipher the face (and sometimes the sex) beneath the make-up at the uppity discos downtown? Tired of SDU newsletters, and hanging out at cinemas. the Tanglin743 words
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Article, Illustration671 1987-11-07 13 RICHARD SEAH - HEAL TH By RICHARD SEAH HAVING BIRDSEED and seaweed for lunch probably confirms the notion that the health conscious eat some pretty weird things. In the hands of award-win-ning vegetarian/macrobiotic cook Monica Lacombe. though, these ingredients make a delicious meal. When Monica prepared lunch for671 words
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Article, Illustration618 1987-11-07 13 JAIME LYE - THEATRE By JAIME LYE SCENE: AN AGING whore and her daughter in their little private hell called New York City. One bitches. The other sulks. In the process, they splash a bit of spaghetti sauce at each other, and pour a little wine on the618 words
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Article, Illustration476 1987-11-07 13 JEFFREY TSANG - MOTORING By JEFFREY TSANG EVERY INCH of its sleek form exudes an aura of exotica from its front halogen lamps, down to its low-slung body of laminated polyester, plush leather interior, right through to its sports-coupe tail. But underneath its synthetic skin,476 words
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Article644 1987-11-07 13 Sakina Dhilawala - Compiled by i Sakina Dhilawala CINEMA: The Mosquito Coast starring Harrison Ford. Showing at Lido: 11; 1.30, 4; 6.45; 9.15. 7ho Kindred starring David Allen Brooks, Amanda Pays. Talia Balsam, Kim Hunter and Rod Steiger. Showing at Cathay: 11; 1.30; 4; 6.30; 9. The Untouchables starring Kevin Costner, Robert644 words
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Executive Lifestyle: Sports
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Article, Illustration541 1987-11-07 14 WALTON MORAIS - GOLF By WALTON MORAIS THE US MASTERS has its green jacket, symbol of perfection in one of golf's major tournaments. Appropriately, the Business Tfirnes Advertising 11th Anniversary golf competition has its own symbol of perfection too. .And when the winning pair in Sunday's541 words
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Article, Illustration532 1987-11-07 14 IN A SEASON when the rookies and the young have shone, M Murugiah, Lim Kian Kee and Poh Ee Kiat could hold all the cards in the Business Times Advertising 11th Anniversary golf c&tfipetition at Sentosa on Sunday. kian Kee and532 words
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Article313 1987-11-07 14 CRICKET Reuter CALCUTTA'S cricket stadium, the venue for Sunday s World Cup finsl, is a fitting arena for the showdown between Australia and England for the game's orw-day championship. Because if one of the finalists can boast Lord's, the home of the r game. and theReuter - 313 words
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Article, Illustration583 1987-11-07 14 MIKE THUMBA - BRIDGE By MIKE THUMBA LAST WEEK, we discussed the opening against a no-trump contract. Let's assume that your partners has led a card from one of the following holdings: (a) A 8 7 5 2 (fourth best from the top); (b) Q J 7583 words
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229 1987-11-07 14 TENNIS AFP FRENCH THIRD SEED Yannick Noah, nursing a strained stomach muscle which seriously restricted his serving, still proved too powerful for popular Iranian Mansour Bahrami in Paris. He scored a straight-sets victory in an entertaining match on Thursday to reach the quarterfinals of theAFP - 229 words
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223 1987-11-07 14 AP GIANT KILLER Jim Grabb continued his winning ways in the U*****,000 Stockholm OpenScandinavian tennis championships on Thursday, outlasting Sergio Casal to reach the quarter-finals. Grabb. 23. who had upset No 2 seed Mats Wilander on Wednesday, won 7-6, 4-6. 6-3 on oneAP - 223 words
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Executive Lifestyle: Personal Investment
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Article, Illustration830 1987-11-07 15 PATRICIA M SCHERSCHEL - Between recession and depression GLOBAL ECONOMY By PATRICIA M SCHERSCHEL Financial Editor "SOMETHING between a recession and a depression." That's how Howard Flight, joint managing director of Guinness Flight Global Asset Management Ltd. which manages 28 investment funds, describes the global economic downturn that could take hold before 1990. "Our830 words
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Article262 1987-11-07 15 STOCKS WITH THE STABILITY of the local stockmarket still fragile. small investors are acting with caution, choosing safe investments or holding on to what they have. There is clearly a flight to safety. But if most investors are cautious, some are still putting money into the262 words
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Article, Illustration738 1987-11-07 15 RAMESH CHANDIRAMANI - PRECIOUS METALS By RAMESH CHANDIRAMANI ONE POSITIVE FACTOR analysts always cited to support their view of higher gold prices in the future was the anticipated flight into the precious metal should equity markets crack. Gold's actual response to the worldwide738 words
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Article, Illustration486 1987-11-07 15 Ramesh Chandiramani - by Ramesh Chandiramani AS SEEMS to be the case with other major stockmarkets worldwide, the worst is now probably behind us in Singapore. And as has happened in New York, Tokyo. London and even Hongkong, a moderate rebound is now on the cardsSource: Chartamatic - 486 words
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711 1987-11-07 15 SECURITIES FT THE COLLAPSE in stockmarket values has been a tremendous boon to fixed-income markets all over the world. Interest rates, which measure the price of money, have tumbled as central banks desperately pump in liquidity to create buyers for stocks. But thereFT - 711 words
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Page 11 Advertisements
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Advertisement126 1987-11-07 11 Inside The Hour Glass.. mmmmew The Architects of Time huwii# '***> rv?p i,l ;<c* Y -f? 6^ f v fe*~ v V HMMHUH s«i You build on the beauty of an Ebel when you buy it at The Hour Glass. I IM *"I^* We know more about timepieces. When you126 words
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Page 12 Miscellaneous
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Miscellaneous2520 1987-11-07 12 SLOTS TO WATCH Taylor, Loren and The Graduate Movies AN ELIZABETH TAYLOR festival kicks off with Litit With Fathr, an adaptation of a play based on Clarence Day's "story about growing up in turn-of-the-Cen-3ury New York with his loving but eccentric father. Taylor plays the love interest of one the2,520 words
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Page 13 Advertisements
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Advertisement53 1987-11-07 13 11// —o_n_fl_ COLD BEER, HOUSE WINE, SPIRITS, COCKTAILS ESPRESSO, CAPPUCCINNO, SPECIALITY COFFEES, BBQ'D MARINATED RIBS N CHICKEN SPECIALITY KEBABS PASTAS SNACKS UNUSUAL SALADS JACKET POTATOES CASSEROLES SOUP DESSERTS All with homemade sauces and dressings. It's what you want to eat. Ham-Midnight (Fri-Sat lam) at the waterfall 81-35, Forum Galleria, Orchard53 words
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Advertisement268 1987-11-07 13 <r f PEEP THROUGH THE GATEWAY OF CHINA AND DISCOVER IT'S CENTURIES OF SPLENDOURS Short Trips Selects 7D Beijing Discoveries (Fri) Fr $1748 7D Beijing Harbin Special (Fri) Fr $1788 IOD Beijing Harbin Lijiang (Fri) Fr $2348 10D Tales of 3 cities (Fri) Fr $2188 7/9 D Science China (Fri)268 words
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Page 14 Advertisements
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Advertisement200 1987-11-07 14 BUSINESSTIMES ADVERTISING ((ttv GOLF COMPETITION^ 7.30am (1) B. K. Sen CheeKowChai Akio Minamoto Roy Mackie Davkj Tan Chen Meng Sheng Goon Kok Loon NgSooPeng Frankie Yeo Bil Gartshore 7.37am (2) David M. Atkinson Patrick LE. Goh 7.44am (3) Frank Yung Hwang TengAun Ali Ratim Choo Chiau Beng Bid Fung Chan200 words
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Page 15 Advertisements
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Advertisement487 1987-11-07 15 NOTICES IN THE MATTER OF THE COMPANIES ACT, (CHAPTER 90) AND IN THE MATTER OF SMC BUSINESS ASSOCIATES PTE. Fl, I ERS VOLUNTARY WINDING-UP At an Extra-ordinary General Meeting of the members of the abovenamed company duly convened and held at 70. Medway Drive, Singapore 1955 on the 24th day487 words
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Advertisement537 1987-11-07 15 IN THE MATTER OF THE COMPANIES ACT, (CHAPTER SO) AND IN THE MATTER OF TAI HU DEVELOPMENT PTE LTD (Incorporated In the Republic of Singapore) (IN LIQUIDATION) MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of the Members of TAI HU DEVELOPMENT PTE LTD duly convened and held at 5001537 words
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Advertisement306 1987-11-07 15 COMPANIES ACT, CAP. Si VEGETRADE PRODUCE (S) PTE LTD SPECIAL RESOLUTIONS Passed on the 2 day of November 1967 At an Extraordinary Oe neral Meeting of the com pany held at 9 Penang Roa< #10-07, Supreme House, S 0923 on 2 November 1987 th< following Special Resolu tlonfl were passed:—306 words
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Advertisement28 1987-11-07 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
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Advertisement13 1987-11-07 15 HIGH THE PUBLICATION FOR INVLSTOK^. NETWORTH Available at all leading bookshops. 556.80 JUL-DEC13 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration4655 1987-11-07 16 SINGAPORE rode on the back of a worldwide rebound yesterday following the announcement of lower interest rates in West Germany and the US. The lower rates reassured investors that governments were actively maintaining liquidity The local equity market cautiously regained lost ground4,655 words
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Article276 1987-11-07 16 SINGAPORE Rises Indicss GEUti 1350 SI A 913 S P M 675 uoi 46« Amai SimI 50< 134 Mot'o NM(I 575 M tanking 430 Troetorj 330 How Par 310 C C M 260 Trammarco 260 C C 197 Kappa* Carpn 210 Spora Land 396 Falls 0 Koramai276 words
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Article4186 1987-11-07 16 BID and offer prices officially listed and business in and reported to the Stock Exchange at Singapore yesterday with the number ot shares traded shown in brackets in lots of 1,000 units unless otherwise specified. SECTION ONE MOUSTRIAL ft COMMERCIAL Aorta (MS 8 1 174,186 words
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Article136 1987-11-07 16 GULA PERAK Bhd: 18th AGM at No 52 Jalan Ampang. ***** Kuala Lumpur, today. Nov 7, at 10am. KESANG CORPORATION Berhad: 26th AGM at the Raya Room. Mezzanine Floor. Hotel Equatorial. Jalan Sultan Ismail. ***** Kuala Lumpur on Monday. Nov 9. at 10am. SEA VIEW HOTEL Limited: AGM136 words
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COMPANY NEWS
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427 1987-11-07 17 ROSIE TAN - By ROSIE TAN THE TOKYO Stock Exchange has emerged as the major market which has suffered the least damage since the global crash three weeks ago. The Nikkei Average of 225 shares, which closed at 22,795 yesterday, is now 12 per cent below the427 words
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234 1987-11-07 17 THE STOCK MARKET crash has upset plans by Metro Holdings to restructure its interest in two property subsidiaries, Metrobilt Enterprise Ltd and Mainland Investors (S) Pte Ltd. The proposed exercise involves the swapping of the two loss-incurring subsidiaries for a 20.1 stake in Asian234 words
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Article276 1987-11-07 17 Monog*rs' prices for Nov 7 4 9 Singapore Unit Trust DBS Bank Stonlon Gr Fi*d* Jopon Gr Fwnd* 5h*nlo«i Thrift Find* O-P 3*3 a77 IJ4 07» Th* Comwrc* 01» Off Th* So*«g> Fund 0 77 004 S'por* Prog Fund 035 0.41 S'por* Sac Fund 060 0A7 S'por* ln**st276 words
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405 1987-11-07 17 AMY BALAN - By AMY BALAN THE FIRST rights issue to emerge from the October stock market massacre, considered as a key barometer to the mood of the market, closed with four out of every five shares taken up. QAF Ltd's two-for-three rights issue, announced405 words
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Article108 1987-11-07 17 HONGKONG > noognoog vkmx Friday *****3 Thursday 1270JO Waak 090 *****4 Hang S*ng Index Friday 2113 67 Thursday *****0 Waa* ago *****3 AH Industrials Friday Thursday Waak ogo NEW YOtK Dow Jonas Thursday Waak ago iii TOKYO Nikkei Avtfo^# Friday *****00 Thursday *****56 Waak ogo *****04 TSE Index108 words
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3201 1987-11-07 17 THE KUALA LUMPUR stock market managed to reverse its downtrend yesterday to finish marginally higher in quiet trading. A broker said trading was brisk in the first 15 minutes as investors were encouraged by the rally in New York on Thursday. But because3,201 words
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164 1987-11-07 17 KEPPEL Philippines Shipyards, a subsidiary of Kappel Corporation. has boon givan the nod by its shareholders to acquire a majority stake in a Cebu dockyard. The approval, part ot an overall expansion plan, also includes the raising of authorised capital to 85 million pesos from164 words
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Page 17 Advertisements
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Advertisement9 1987-11-07 17 #«tit <sy x siragnc. Call 790-5069/5728. Advertise in it9 words
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Advertisement590 1987-11-07 17 NOTICE NOTICE IS HEREBY GIVEN that. I Nakamasa Okamoto of No. 126 Ang Mo Kio Ava 6 07-1906. Singapore 2066. have appliad for a First Class Public Houm licanca in respect of premises at MAS Robatayaki Naniwa Rartaurant Pte Ltd at SKoak Road #03-12 Cuppage Plaza, Slngepore 0023, and that590 words
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Advertisement598 1987-11-07 17 NOTICE IS HEREBY GIVEN that, I Tay Guan Leng of No. 21 Jalan Stador Seletar Hills Singapore (2880), have applied for a Second Class Beer House licence in respect of premises at Olefa Sayang Pood 258 Lorong Limit Singapore (1037), and that this application will be hevd in Court No.598 words
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Article, Illustration476 1987-11-07 18 PAUL GOPAL - By PAUL GOPAL PRIME MINISTER Lee Kuan Yew is supportive of President Aquino's efforts to solve the deep-rooted problems facing the Philippines. The visiting Philippine Foreign Secretary Raul Manglapus said yesterday his 90-minute meeting at the Istana with Mr Lee was "extremely cordial and almost476 words
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559 1987-11-07 18 LIM SOON NEO - Newly-formed arm to explore business opportunities By LIM SOON NEO TRANS-ISLAND Bus Services (Tibs) has formed an investment company to explore suitable business opportunities, including those offered by the Singapore Mass Rapid Transit Ltd (SMRT). The newly registered company is known as Tibs Investment and has559 words
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Article, Illustration348 1987-11-07 18 ARE THERE so few good businessmen here that the nominations for the 1987 BT-DHL Businessman of the Year Award have shrunk to only 11 from 50 in the past? The answer lies in the past winners of the award Mr Michael348 words
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195 1987-11-07 18 AP THE MASSACHUSETTS Institute of Technology (MIT) has cancelled plans to buy a supercomputer because of US government concern that Japanese bidders were illegally offered to sell at unfairly low prices. MIT provost John Deutch said on Thursday that the school reacted toAP - 195 words
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Article, Illustration254 1987-11-07 18 HO KOK CHEONG, the man who made People's Park a household name and became a millionaire at the age of 27, was declared a bankrupt in the High Court yesterday. The petition for bankruptcy was filed by Banque Paribas against the 47-year-old property developer who254 words
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120 1987-11-07 18 AFP THAILAND has lifted a long-standing ban on Soviet ships calling at its ports for repair work. A foreign ministry official said permission was given last month for the Chaophraya Shipyard Co Ltd to repair Soviet vessels at its dockyards. ThisAFP - 120 words
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Article, Illustration539 1987-11-07 18 UPI Reuter JAPAN launched a new era of leadership yesterday when it elected Noboru Takeshita. politically savvy but inexperienced in world affairs, to guide it through the stormy waters of the next two years. Mr Takeshita was elected prime minister,UPI; Reuter - 539 words
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332 1987-11-07 18 Reuter PHILIPPINE communist guerillas declared virtual war on the US yesterday, listing a wide-range ot Americans in the Philippines as targets for attack. The National Democratic Front, an umbrella organisation of communist groups, said Washington would "pay a high price for its political-military interventionReuter - 332 words
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102 1987-11-07 18 AFP FILIPINOS will cast ballots on Jan 18, 1988, in local elections, it was announced yesterday. The date was proclaimed in a law signed by President Corazon Aquino the first she has enacted since Congress opened in July. Campaigning will begin on DecAFP - 102 words
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Article61 1987-11-07 18 AFP SHARE PRICES on Wall Street opened firmer yesterday with the Dow Jones Industrial Index coming close to the 2,000 point level in the first few minutes of trading. After 18 minutes, it was standing at 1.992.37, up 9.52 points. Some 36 million shares had been tradedAFP - 61 words
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Article56 1987-11-07 18 Reuter COMEX GOLD futures gained in choppy morning activity yesterday with traders taking profits from short positions and shaping their books ahead of the weekend. December gold was up US$l.5O at U*****.70 an ounce after early support levelled off under Thursday's high of US$462 20. Reuter The silverReuter - 56 words
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LATE FILE
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Article46 1987-11-07 18 AP FRANCE yesterday conducted its second nuclear test in two weeks at the Mururoa site in the South Pacific, detonating a 20-kiloton device. The explosion was the sixth French nuclear test at Mururoa this year, said Warwick Smith, a Wellington-based seismologist. APAP - 46 words
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Article39 1987-11-07 18 UPI A RARE coalition of American arms control, intelligence and environmental experts has urged President Reagan to suspend production of plutonium for nuclear weapons and to call on the Soviets to do the same.UPI - 39 words
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Article64 1987-11-07 18 AP THE JOBLESS rate in the US edged up to 6 per cent last month the first increase in 18 months despite the creation of more than 500,000 jobs and significant growth in manufacturing employment, the US government said in Washington yesterday. The Labour Department's surveyAP - 64 words
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Article53 1987-11-07 18 Reuter The KUWAIT Investment Office (KIO), an agency of the Kuwait government, has bought a 4.9 per cent stake in British Petroleum Co PLC through recent market purchases, industry sources said. Sources said the KIO bought the shares because of its positive long term view ofReuter - 53 words
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Article40 1987-11-07 18 AP THE JAPANESE government has approved a US$BOO million loan to the Philippines to help the government of President Corazon Aquino finance various economic projects. Presidential Executive Secretary Catalino Macaraig said in Manila yesterday. APAP - 40 words
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Article48 1987-11-07 18 Bernama The Soviet airline. Aeroflot. has received a green light to operate a special chartered flight service to Malaysia next month. Malaysian Transport Minister Datuk Dr Ling Liong Sik said yesterday this followed from his ministry's open sky' policy for special chartered flights.Bernama - 48 words
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Article46 1987-11-07 18 Reuter WITH deficit reduction talks between the White House and Congress likely to go into next week, some negotiators are cautiously talking about success. Several of them said headway was made on Thursday and began sounding more optimistic about the talks. ReuterReuter - 46 words
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Page 18 Advertisements
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Advertisement172 1987-11-07 18 The University of Melbourne Graduate School of Management MBA Applications are invited for admission to the 1988 MBA program. This is a two year full-time program commencing in March 1988 and is offered on a full fee-paying basis to overseas students. Applicants should have a university degree and at least172 words
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Advertisement226 1987-11-07 18 PROPERTY Stake this out AMID THE TURMOIL in the stock and money markets, a stake in property may look like an even better bet for the investor. The signs have already been pointing to a recovery steadily rising prices, shortages in certain areas active home-buyers But have the external factors226 words
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