The Business Times, 5 December 1987

Microfilm: NL16037
Total Pages: 16
1 16 The Business Times
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  • Title Section
    Masthead
    12 1 BUSINESS TIMES MCI (P) 112/12/86 Weekend Edition, December 5-6 1987 75 CENTS
    12 words
  • Article
    FINANCIAL NEWS SUMMARY
    147 1 Overseas markets Thundoy HK Hang Seng Index 1994.22 (-63.21 Tokyo Nikkei Average *****.75 (-205.41) Sydney AII-Ordinarie» 1246.9 (-38.9 Wednesday New York (Dow Jones) 1776.52 (-72.45 London (FT 30 Index) 1263.6 (-3.3 (Friday noon: 1252.1 Exchange rates US$: 132.30/40 yen 1.6560/70 DM SJ2.0330/40 US$11.8095/8105 M$: SS0.81.33/40 Simex Euro-S
    147 words
  • Article, Illustration
    Wall Street fall hits Asian markets
    198 1 ASIAN STOCK markets ended lower following a setback on Wall Street on Thursday which took US stocks to their lowest level since the October collapse. The Dow Jones Industrial Average plunged 72.45 points to 1776.52 despite coordinated cuts in interest rates by the European
    198 words
  • Article
    Simex comes down hard on overtrading
    489 1  -  By ALVIN TAY Banking Correspondent THE SINGAPORE International Monetary Exchange (Simex) has spelt out tough measures, including expulsion, heavy fine and profit forfeiture, against individual members who are found guilty of overtrading. In another developmeht, the Simex board yesterday informed its members that the
    489 words
  • Article, Illustration
    SIA wins best Annual Report award
    613 1  -  OAF AND STRAITS STEAMSHIP TIE AS RUNNERS-UP By ELAINE KOH SINGAPORE AIRLINES has been judged to have produced the best annual report for 1987, depriving Brunei-backed QAF Ltd of a chance to clinch the grand award. SIA, which was the runner-up last year, overtook
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  • Article, Illustration
    USS sentiment still bearish over short term
    347 1  -  By ALVIN TAY CONCERTED interest rate cuts by seven European central banks on Thursday gave the US dollar a respite on Asia's foreign exchanges yesterday. But the novelty of the co-ordinated move faded by the time Europe started trading. Dealers said market sentiment
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  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      213 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM Full report, Page 14 World markets, Pages 6 A 7 INSIDE SINGAPORE AIRLINES will take part in a joint-venture company which some AsiaPacific airlines will be forming to operate a computerised system that industry sources say will cost up to US$2OO million to develop.
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    • Advertisement
      Page 1 Advertisements Column 2
      196 1 Nikon .1 THE WORLD'S FINEST PHOTOGRAPHIC H T. N*> Oldies but goodies Page 9 'i? v s* PimiH Trtvta Far from the madding (London) crowd Pagt 9 Have a heart, talk to someone Page 10 TV programmes for today and tomorrow Page 10 Hepburn, Fellini and Bowie Page 10 More
      196 words
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  • HOME NEWS
    • Article
      Singapore Airlines to Join Abacus system
      474 2  -  By LIM SOON NEO SINGAPORE AIRLINES will take pari in a joint venture company which some Asia-Pacific airlines will be forming to operate a computerised system which industry sources say will cost up to US$2OO million to develop. Named Abacus, the system, which provides
      474 words
    • Article
      SIA to fly twice weekly to Darwin
      448 2 SINGAPORE AIRLINES (SIA) will fly to Australia more frequently next year with the addition of twice-weekly services to Darwin and an additional service to the east coast of Australia. y "We (SIA) always had Darwin in our schedule but could not operate there
      448 words
    • Article
      $2m worth of artworks for six MRT stations
      407 2 SIX MRT STATIONS will be graced with $2 million worth of local artworks giving each its own distinctive theme. The MRT Corp commissioned 14 Singapore artists for the 19 pieces of art in various art forms. The large murals, sculpture, pottery and
      407 words
    • Article
      MEMO PAD
      195 2 Seminars and courses Dec 14-15 Mastering Spreadsheet Pavilion InterSystems Education *****89 Impact Continental Centre (1983) Pte ltd Dec 14-16 Effective Interviewing SIM Conference Singapore *****66 Skills Room Institute of Management Dec U-16 Soles leadership by Mercun Mercuri *****88 Objectives Part 11 International International (Singapore) (Singapore) Dec 14-18 QCC
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    • Article
      Cautious optimism as Metro opens its largest store
      358 2 OPTIMISM OVER the health of the retail industry prevailed at the opening of Metro's largest store. Metro Paragon in Orchard Road, yesterday. But it was optimism laced with some caution as Metro officials appear to be wary about the impact of the
      358 words
    • Article, Illustration
      Not all disputes are best settled by law, says Attorney-General
      356 2 WHILE LAWYERS are inclined to extend the scope of judicial remedies, not all disputes are best settled by turning to the law, reminded the Attorney-General yesterday evening. With a vested interest perhaps in applying the law widely in society, lawyers
      356 words
  • Article
    SHIPS IN PORT
    1143 2 AT CONVENTIONAL WHARVES VmmI B«rth Arrival Departure KEPPEL WHARVES Atinufce Ab»o KI8 alongside 06 12/0500 Boron Star K34 alongside 09 *****0 Equator V K22 alongside 05 12/2359 Frotamonila KIS alongside 05 12/2300 JiCngme^ KJ5 alongside 05 12/1500 Kin Soon li K23 alongside 0512/0700 Koto Agung K30 alongside
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      142 2 m HW/j Max/ Note Mln rc> 25/1 2 Show«rs 04/01 Cloor 15/08 Cloudy 27/18 Cloudy 29/20 Folr 29/25 Cloudy 04-06 Cloudy 22/14 Rain 05/00 Cloudy 04/00 Cloudy 22/20 Cloudy 04/00 Cloor 25/15 Cloudy 20-05 Cloor 28/18 Cloudy 22/15 Cloor 08-04 Cloudy 20/02 Folr 27/15 Cloudy 00-02 Cloudy 03-04 Cloor 36/25
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  • OVERSEAS
    • Article, Illustration
      Lock icon Hawke criticises Japanese, US and European policies
      312 3 AP AUSTRALIAN Prime Minister Bob Hawke has said that the failure of Japan, the US and European nations to implement economically rational policies was a "tragedy "The United States and Europe have been guilty of the ultimate absurdity of acting against their own
      AP  -  312 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      982 3 ARRIVALS Operator Service Local From number time OA OA471 0015 ATH S1A SQ11 0115 LAX/NRT UA UA805 0120 SFO/HKG MAS MH619 0125 KUL »CAL 0333 0405 TPE SU SQ41 0610 MAA MK MK746 0725 MRU MAS MH601 0730 KUL MAS MH681 0820 KUL .SiA SQ417 0820 DXB/KHi
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    • Article
      Lock icon EC tungsten maker warns China against dumping
      188 3 Reuter A EUROPEAN Community (EC) producer of processed tungsten products said on Thursday it would charge China with dumping the metal and demand retaliation unless Beijing raises its tungsten prices within three months. French, West German and British companies "have the dossiers ready
      Reuter  -  188 words
    • Article
      Lock icon Saudi Arabia's Pakistani troops to go home
      334 3 Reuter SAUDI ARABIA says that thousands of Pakistani troops, for long a major element of the kingdom's defence forces, are to go home. A brief announcement by the official Saudi Press Agency (SPA) late on Wednesday reacted to foreign press speculation that Riyadh
      Reuter  -  334 words
    • Article
      Lock icon Ministers move closer to G-7 meeting — French sources
      163 3 Ministers move closer to G-7 meeting French sources Reuter PROGRESS is being made towards a meeting of the Group of Seven finance ministers but it is too early to predict a date when one might be held, sources close to French Finance Minister Edouard Balladur said. Mr Balladur has called
      Reuter  -  163 words
    • Article
      Lock icon Bonn's jobless rate rises, economy slows
      344 3 Reuter WEST GERMAN unemployment rose in November and data released on Thursday showed that growth of Europe s largest economy had slowed. The number of people out of work rose to 2.13 million in November from 2.09 million in October. the Nuremberg-based Federal Labour
      Reuter  -  344 words
    • Article
      Lock icon 'Slower US growth a blessing'
      377 3 Reuter SLOWER economic growth in 1988 would be a blessing for US policymakers in that it would ease pressure to raise interest rates while the dollar falls, said Professor Harold Rose, economic adviser to Barclays Bank PLC. "If the fall in share prices causes a
      Reuter  -  377 words
    • Article
      Lock icon China to launch Swedish satellite
      125 3 AFP CHINA will put a Swedish telecommunications satellite into space in 1991 aboard one of its Long March II rockets under a contract signed last month. The New China News Agency said on Thursday that the experimental satellite, named Fleza, is to be launched by
      AFP  -  125 words
    • Article
      Lock icon Bangladeshi-Soviet barter agreement
      51 3 Reuter BANGLADESH and the Soviet Union signed an annual barter agreement envisaging exchange of goods worth about 2.4 billion taka during 1988. Commerce Ministry officials said. The agreement stipulated that Bangladesh would export additional goods valued at 800 million taka to the Soviets towards repayment of credit.
      Reuter  -  51 words
    • Article
      Lock icon Drought cuts Indian defence budget
      170 3 Reuter INDIA will cut its defence budget this year by US$l92 million to save money following its worst drought this century, Minister of State for Defence Shivraj Patil told Parliament on Thursday. Mr Patil said in a written reply that the government will cut 2.5
      Reuter  -  170 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      60 3 FI 1| Ifl 1m The business person's choice, every I I II 111 I Tuesdoy, Thursday, Saturday and I I m 1 f| \l II I Sunday. Leaving Changi Airport at V, y I J\ JL \y 22:05 hours and arriving at Lester B. Ptearson International Airport the following day.
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      Page 3 Advertisements Column 2
      48 3 CHARLES JOURDAN So*9 Ay#n# DtsfnCK/Po'' tar Brim* fndomM I HINCKLEY SINGAPORE TRADNG PTE LTD A mamftai ot Vm DICKSON Qfoup o> Cniupmm 400 Ochart) Road *24-07 Orchard Toners Singapore 0923 Tel *****22 (8 Lines) Tbt RS ***** DTRDG Fax *****33 Available at leading department stores S selected boutiques.
      48 words
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  • BANKING AND FINANCE
    • Article
      Government securities market
      87 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BIO Of PER HIGH LOW 3 months BQ*****A 25.2.88 2.60 2.55 2.63 2.46 6 months BS*****S 21.4.88 2.60 2.55 2.58 2.48 1 year BY*****T 24.11.88 2.29 2.24 2.57 2.20 Government notes and bonds Period Issue Maturity Coupon Yesterday's
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    • Article, Illustration
      World interest rates
      183 4 Indicate* the average of the prime lending rates of 12 mafor banks In S'pore Interbank market rates (offer/bid) on Dec 4 US$ dm swfc Y*n 7 doyt 7 6 7/8 5/$ i/j 3 1/16 2 15/16 1 1/2 1/4 4 1/8 4 1 t 7 7/% 8
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    • Article
      Forex markets
      1622 4 SINGAPORE: The US dollar ended lower against major currencies yesterday as late selling by Asian and European operators reversed its earlier rise on news of Thursday's European interest rate cuts, dealers said. It closed at 132.30/40 yen against an early 133.10/20 and New York's 132.70/80 finish. Reported light
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    • Article
      Asian $ market
      198 4 Asian market ASIAN DOLLAR deposit rates closed steady yesterday at opening levels in quiet afternoon trading. inier bank deposit rates uss OFFER BID 7 do/i 7 6 7/8 1 month 8 1/16 7 15/16 2 months 7 13/16 7 11/16 3 months 7 13/16 7 11/16 6 months 7 13/16
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    • Article
      Clarification
      72 4 NDC MERCHANT BANK has informed BT that there were errors in the figures it supplied us yesterday for tbe daily table of prices in the government securities market. The closing bid and offer prices for the two-year bonds and notes were stated as 99.28 and 99 33 respectively, while
      72 words
    • Article
      Comex gold/silver futures
      130 4 Gold futures on Doc 3 100 troy ounces. USS per troy ounce Open M*. LM »*m OK 488 50 492.50 487.00 488 80 070 Jon 490.50 aio fmb 88 ■494 30 498.30 491.80 493 80 ♦0.10 A»K 500.30 504.30 498.00 499.70 JUI 507 30 510.30 503.50 505.80
      130 words
    • Article
      Simex/IMM
      578 4 EURODOLLAR futures opened slightly higher yesterday supported by concerted cuts in interest rates among European nations and further losses overnight in US stock prices. Trading range remained narrow for the session ahead of the release of US unemployment figures. March Eurodollar traded from 92.34 to 92.38 after opening at
      578 words
    • Article
      Money markets
      66 4 THE overnight rate on the Singapore interbank market fell 3/4 point to close at 3 per cent yesterday The one-month rate rose 3/16, the two- and three-month rates by a uniform 1/16. S$ Interbank rates at 7pm yesterday: OfFE» no 0"f •y 3 2 3/4 I nwn*, 3
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    • Article
      Options
      947 4 CURRENCY FUTURES OPTIONS Frtdoy, D«ctmb«r 4, 1987 DEUT8CHEMARK (SIMEX) Dm 87 can* 1 §7 puts High Low te« High Low tea 58 200* 245 59 102A 145 1 60 49* 16 44 17 3 s *1 3A 2* 940 62 62 1 1920 160 63 CA0 2550 260 64
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  • COMMODITIES
    • Article
      Precious Metals
      333 5 HONGKONG: Gold closed slightly lower yesterday in fairly active trading on profit taking and weekend book squaring selling, dealers said. They said short term sentiment remained positive but expected a brief round of consolidation between US$4BO-490 per ounce. The temporary steady tone of the US dollar also inhibited
      333 words
    • Article
      Palm Oil
      443 5 Crude palm oil Kiturn closed marginally lower yesterday in quiet trading on the Kuala LumpurCommodity Exchange. Dealers said prices eased slightly following easier overseas advices. Failure of India to buy big quantities of palm oil at the weekly tender depressed sentiment, they added. Spot month December fell $3
      443 words
    • Article
      RAS and MRELB
      228 5 prices In 8 ewMlg, FOB in bata NOON CLOSE Bvyor* Bvyorj Sellers Inf 1 RSS Prompt 219.50 220.50N 217.50 218.SON tat 1 RSS Jon 88 218.25 218.75 216.25 216.75 tat 1 RSS Fob 88 218.00 218.50 216.00 216.50 tat 2 RSS OP 215.75 *****N 214.25 216.25 tat
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    • Article
      KL Tin
      54 5 THE KUALA LUMPUR Tin Mart* pries slid another five cents to M 517.02 a kg ysstorday. The prloa eaoed gradually altor opening unchanged aa buyers dacßwad to Iwcriaia Ha rtarUng bids of Nve tonnaa agalnat offers ol 42 tonnaa, daalara aald. riaopaan and local Intorsets took Mm final
      54 words
    • Article
      Produce Prices
      240 5 Chinese Produce Exchange Stllors noon pi rtc*s an Doc 4 (SS/100 kg) Coconut oil Bufc FOB 93.00 Old drum FOB 103.00 N*w drum FOB 107.00 Copra Mixed (loos*) 53 sollon Pepper Muntok whit* FOB NIW 1210.00 Sarawak whit* FOB foq NIW 1195.00 Sarawak spodol Mack FOB NIW 870.00
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    • Article
      Rubber
      93 5 SINGAPORE The market closed weaker yesterday with January 1 RSS buyers quoted at 216.25 cents/kilo, down 1.25 cents from Thursday's close. MALAYSIA Prjces closed mixed yesterday. Trading was quiet, with January International Ones RSS buyer easing to 267.50 cents a kilo from the morning's 268 cents, although it was
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    • Article
      SSR and SMR
      80 5 (ewm/kg, 1 -ton polWn) JANUARY 88 FEBRUARY 88 (currant month) (forward month) NOON NOON RAS tuy*n S*H*ri >wy«n S*U*n SSI 30 319.00 221.00 319.00 331.00 SS» 50 317.50 319.50N 317.50 319.50N MRELB Swy»r» S*lt*rt tvy*n S«n*r> SMI CV 373.00 374.00N 373.00 375.00N SMI L 373.00 374.00N 373.00
      80 words
    • Article
      London Markets
      297 5 London Commodity Exchange PrTW/atfltf OOWng prlcti on Doc 3 (£/tonno untoi is tpodfiod). Provioui doting pricos in poftnthtih. CoflM •o»h in-stor* London, mNots option OF London ion 1226/1228 Migh/Low (1220/1222) 1230/1215 Mar 1252/1254 Mflh/Low (1253/1247) 1253/1239 Sol«» (1223) CflCTI Ok 1062/1064 Mgt»/Low (1057/1058) 1064/1035 Mar 1093/1094 Mgh/Low (1092/1093)
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    • Article
      Oil and Products
      87 5 THERE WAS shortcovering on the forward crude markets ahead of the Opec meeting. This added a touch of firmness to prices. Dubai (Jan) W#ti Tttoi US$/borr«4 16.70 Owing* ♦aia WTI (ion) It.#7 0J0 Products (FOB S'pore) USt/barraf Oi»wg« 23.#0 +ai5 GoieO 20.30 -OJOS Low Sutpfcur Wo»y IotMin.
      87 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      281 5 Oceanic Underwater Services (Pte) Ltd Block 16 Pandan Loop #01-109 Singapore 0512. Tel: *****19 Fax: *****63. Telex: RS ***** DIVER Specialists: all types of underwater services to the shipping, engineering and oil industries etc. PHILIPS V=T PHILIPS PROJECT DEVELOPMENT PTE LTD Lorong 1 Toa Payoh Singapore 1231 Tel: *****00 Telex:
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  • WORLD MARKETS
    • Article
      Lock icon Market recovery hinges on US deficit issue
      357 6 Reuter THE STOCK MARKET is expected to move higher next year, but the advance could be short-circuited if Washington fails to come to grtps with the deficit, according to participants in the Securities Industry Association annual meeting in Florida. "The future of the
      Reuter  -  357 words
    • Article
      Lock icon Bearish sentiment rules the day
      1076 6 New York Reuter WALL STREET on Thursday tumbled to its lowest level since the Oct 19 crash, falling more than 70 points for the second time this week. Rallies in the dollar and bond markets, and discount rate cuts in several European countries failed to
      Reuter  -  1,076 words
    • Article
      Share prices open sharply lower
      607 7 London THE FTSE index of 100 leading UK shares yesterday opened a net 21.2 points (1.33 per cent) lower at 1.567.2, after a near 4 per cent decline on Wall Street yesterday and steep falls on Far Eastern markets overnight. The index closed 1.9 points
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    • Article
      Untitled
      995 7 Amsterdam DEC OS FU ABN 30 SO 02 Aagon mi 53 70 1 Ahotd W.... 61 SO 1.7 Akzo 86 30 1.1 141 20 0 2 AMEV 34 10 -1 5 Amro Bank 57 20 0.1 Am Stad 95 50 -1 Barka) BOLS 97 00 -2 Boraumii Buahrman Tatlarcx Mi
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    • Article
      Lock icon SAS amends offer for BCal
      102 7 Reuter SCANDINAVIAN Airlines Systems (SAS), seeking a stake in privately owned British Caledonian Airlines. has made an amended ofler aimed at winning the approval of British authorities. SAS deputy president Helge Lindberg told a news conference in London on Thursday that his company wanted 40
      Reuter  -  102 words
    • Article
      Lock icon Stocks close lower
      1421 7 Hongkong Reuter HONGKONG share prices ended sharply lower yesterday with the Hang Seng Index closing below the 2.000 level, pressured by Wall Street's setback, brokers said. The Hang Seng Index lost 63.21 points to 1.994.22 though it lagged by 84 points in the early afternoon. Turnover was
      Reuter  -  1,421 words
    • Article
      Seoul
      132 7 Dec 04 WON Chwl Sugar ***** +100 Daeiim Ind Daewoo Corp Daewoo Heavy Oaiahm Securities Dong Ah Ptiar Dong Suh Slock Oongbu Steel Go«d Star Hand Bank Haml Cement Hankuk Giaas Hanyang Chemical Hyundai Conat Hyundai Motor ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** *****
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    • Article
      Lock icon Tokyo
      504 7 Reuter TOKYO share prices closed sharply lower yesterday in very thin trading due to Wall Street's decline on Thursday, a weakening dollar and bearish chart factors. The Nikkei share price index lost 205.41 points to 22,602.75. just off its low. In early trade it gained more than 100 points.
      Reuter  -  504 words
    • Article
      Sydney
      440 7 THE AUSTRALIAN share market closed sharply down yesterday, with a late flurry of sell orders sending major indices down to their day's lows. Brokers said investors traded nervously amid concern over Wall Street's performance last night, with entrepreneurial and gold stocks hardest hit. By the close the All Ordinaries
      440 words
    • Article
      Lock icon Bangkok
      145 7 Reuter THE SECURITIES Exchange of Thailand Index closed 0.79 point lower at 260.91 yesterday on turnover of 4.015 million shares worth 397.37 million. Reuter DCC M BAMT Ao Kham Thai Ayudhya investment 190 -10 Bangkok Agro-tnd Bangkok Bank 297 -4 Bank Of Ayudhya 300 unch Charoong Thai Wira Cable
      Reuter  -  145 words
    • Article
      Taipei
      285 7 DEC 04 NT S All Sincara Indus 32SN Asia Camant 67 SO -2 Cathay Cona 73 50 -2 Chang Hwa Bank 212 00 -6 Chang Loong S3 00 -15 Chia Main Camant 45 40 -1.4 Chin Ham Flour 1840 -05 China Cham 31 30 *09 China Dav 71 50
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    • Article
      Manila
      77 7 oec o« Acoie Mining PESO# *fApex Mining B 0 046 -0X1 26 -OS Baguto Gold Batic Patrol aum Banguat Con B i.. 0013 unch 99 unch 6 50 08 lapanto B Marcoppar 0 40 unch 1 20 unch Marataai Oriental B Ptul Oversea Ptwle* B a 0 0625 ...0.046
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      846 6 diitc MUi Soothing Sounds in Music... It Jade Lounge CHEVY'S BACK IN TOWN Come meet Jay and Donna The Dynamic duo called "CHEVY". Two very experienced International entertainers who will have you singing to their tunes. Listen to their rendition of Pop Hits and evergreen. Chevy alternate with Vocalist/Guitarist SAHETAPY
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      Page 6 Advertisements Column 2
      290 6 The finest Beijing cuisine from Pine Court, with complimentary Hennessy Cognac MENU I includes steamed live sea-fish, stuffed black mushroom and Peking Duck. Price: $688* nett per table. Complimentary bottle of Hennessy XO. MENU II includes braised shark's fin with chicken sauce, braised abalone with green vegetables and sweet sour
      290 words
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  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      264 7 w in V) t Advent Sundays Family Brunch: Festive Fare for all. We're celebrating Advent with a Sunday Brunch that makes tor great family outings. With delights like oysters, smoked salmon and traditional Christmas fare. Dec 6.13, 20. 11am 2.30pm. $29 for adults $16 for children. Prices are subject to
      264 words
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      Page 7 Advertisements Column 2
      232 7 PALM HHIf GRILL An elegant and intimate ambience. Wjfh exceptional French and Continental cuisine. And the very finest wines from our exclusive cellars. BUSINESSMEN'S SET LUNCH $32++. Closed on Sundays. Saturday dinner only. 9 Westin Plaza, Ist Floor. For reservations, call 338 8585. ext. ***** or 330 8310. The Westin
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  • LETTERS TO THE EDITOR
    • Article
      Things that make love gush forth
      505 8 PEOPLE LOVE things. They love things more if they are free. And if the thing going for free happens to be an old Boeing 707, people call from all over the world to express their love. When the Franklin Institute, a museum in Philadelphia,
      505 words
    • Article
      Bonvests shareholder queries SES action
      940 8 Were interests of minority holders considered? Dear Sir I am an ordinary minority shareholder of Bonvests and would like to declare that I have no axe to grind in respect of the Agenda at last week's Extraordinary General Meeting. Much of what I would have
      940 words
    • Article
      Why can't the support of foreign institutions be counted on?
      140 8  -  D W DISTANT Dear Sir I read with interest the report on Bonvests's remarkable EGM on Nov 28 (BT 30.11.87) and also Hock Lock Siew's comments in his column "Taking Stock". Thanks for being alert enough to send people to
      140 words
    • Article
      UNRESERVED APOLOGY
      135 8 In the 28 November 1987 issue of the Business Times we published a letter of Mr Norman Wright, Managing Partner of Egon Zehnder International South-East Asia, titled "Searching for Executives" and subtitled "Need to Maintain Confidentiality". Business Times is satisfied and accepts that the statements concerning the Oversea-Chinese
      135 words
    • Article
      No intention to take over OCBC
      338 8 Dear Sir I refer to the article by Hock Lock Siew which appeared in BT on Nov 26. You have wrongly alleged in the said article that one of my ambitions was to take over the Over-sea-Chinese Banking Corporation (OCBC). For your information, I
      338 words
    • Article
      SIA hopes additional flights will be made in good time
      295 8  -  KARMJIT SANGH Manager, PubMc Affairs SIA Dear Sir Qantas manager for Singapore. Mr Paul Miller. (BT. 28.11.87) may find it "unbelievable" that there are 45,000 potential passengers waiting to travel to his beautiful country, but his bosses in Sydney are
      295 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      266 8 v i You have a k business to run, I a busy schedule A to keep... EgL SINGAPORE BUSINESS understands your '/v®2A commitment to your work. So. instead of L rSKf having to go out in the sweltering heat or get held up somewhere in a traffic jam on your
      266 words
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      Page 8 Advertisements Column 2
      30 8 roadara. Your your signature, full nemo, eddreeo, ew numbors, if any. You may •dd a paaudonym, if you Addraaa your loltora to: Tha Editor. Buainaas Timaa, 390, Khn Bang Road,
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  • Page 8 Miscellaneous
    • Miscellaneous
      Page 8 Miscellaneous Column 1
      847 8 m&wMm whi) CRYPTIC PUZZLE ACROSS 9 He-men don't worry about getting better (2, 3. 4) 10 Don't notice that you'll see from your window (8) 12 Her answer to "Is *il signora' correct?" (4) 13 Did she take the fool in with a trumped-up story? (6) 14 Left the hat
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  • Executive Lifestyle
    • Article
      STRAWS in the Wind
      271 9 ANOTHER two major US stockbroking firms Merrill Lynch and Drexel Burnham have merged. And the name of the new company suggests something that angry investors who had lost money might want to do to their stockbrokers: "Lynch and Burnham". WHEN IN SINGAPORE, do as Singaporeans do,
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    • Article
      Sperm for a nobel cause
      165 9 TRENDS ABOUT 42 "noM babies" havs been conceived In the US from aporm provided by tho Repository of Germanlal Choice in Eacondldo, California. Tho babies aro calfod ■J®** b c Ss* «perm bank Initially offorod tho oporm 5? 1 wlmw othera poaaaaaing high IQa. Tho
      165 words
    • Article, Illustration
      Far from the madding (London) crowd
      738 9  -  f/VvV*^ With HARISH MEHTA EVER MET an Englishman who can speak Chinese? I hadn't But I knew the peace wouldn't Hast. And then it happened on my second day in Singapore. There he was. Mr Commonwealth himself. Hardly the typical tweedy HP G Wodehouse
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    • Article, Illustration
      Oldies but goodies
      1296 9  -  By CHARLES SAVAGE IT'S A QUAINT antique shop and bursting with old clocks that remind you of grandfather and gramophones that played hits from the roaring *****. It stands at the corner of a row of two-storey pre-war shophouses along Upper Serangoon Road and is run by
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    • Executive Lifestyle: Entertainment & Pursuits
      • Article, Illustration
        Have a heart, talk to someone today
        1152 10  -  HEALTH By RICHARD SEAH IT WAS A STATISTIC that did not raise many eyebrows The death rate from coronary heart disease in Singapore had more than doubled within 15 years. Acting Health Minister Yeo Cheow Tong said at the launch of National Heart
        1,152 words
    • Executive Lifestyle: Entertainment & the Arts
      • Article, Illustration
        An explosive mix of colours
        477 11  -  FASHION By LISA LEE "HOT" COUTURE from a people better known for their native wit or keeping a stiff upper lip rather than being swanky or hip? Unexpected. to say the least. But the Spring/Summer '88 creations that came off the Oriental Hotel runway on
        477 words
      • Article, Illustration
        Dishing out rhythm and blues in real earnest
        550 11  -  NIGHTSPOTS By BRIAN MILLER THERE WAS no mistaking it. This waa vintage Ernie and I knew it the moment I heard the strains of Honky Tonk Woman filter through the doors of Uranium. Through the years and I'm talking about years I
        550 words
      • Article
        BILLBOARD
        905 11  -  Complled by SakIna Dhilewsia CINEMA: Mannequin starring Andrew McCarthy, Kim Cattrall and Michael Gottueb. Showing at Cathay: 11; 1.30, 4; 6.30; 9.15. Jaws Tha Ravanga starring Michael Caine, Mario Van Peebles. Lorraine Gary, Lance Guest and Karen Young. Showing at Lido: 11; 1.30; 4; 6.45; 9.15. Soma Kind of
        905 words
      • Article
        Finally, a place serious film buffs can call their own
        559 11  -  ART THEATRE -b, Jaime Lye JUST WHEN It seemed that movie distributors here were too busy catering to a mass market that demanded raw flesh and/or Sylvester Stallone to bother about serious film goers who prefer Woody Allen, one organisation
        559 words
      • Article, Illustration
        A bit too sweet and hairy
        489 11  -  CINEMA By JAIME LYE ABOUT the only thing director William Dear's Bigfoot has in common with the legendary Sasquatch is size 20 shoes and a deodorant problem. But that doesn't stop Dear from coming up with Bigfoot And The Hendersons his idea of what
        489 words
      • Article, Illustration
        The great shark's finl soup opera
        301 11  -  Lawrence Tan CHOMP. CRUNCH. GULP. A three-word review would do nicely for Jaws: the Revenge. And just when one thought it would be safe to see a sequel to Steven Spielberg's taut and witty original with Shaw, Scheider and Dreyfuss all at their best.
        301 words
    • Executive Lifestyle: Sports
      • Article, Illustration
        Lock icon Lowest score earns Allem US$5O,OOO
        411 12 GOLF Reuter SOUTH AFRICA'S Fulton Allem, playing as a last-minute stand-in, surprised a star-studded field wittv„a scorching six-under-par 66 to take an early lead in the Su(\ £ity million-dollar golf challenge on Thursday. Atlem's remarkable first round gave him a one-stroke lead over Britain's lan
        Reuter  -  411 words
      • Article
        Lock icon Perry, Little lead by three strokes
        180 12 AP ROOKIE Kenny Perry teamed with veteran Sally Little for a combined 10-under-par 62 on Thursday to take a three-stroke lead after the first round of the J C Penney mixed team golf classic. Perry of the Professional Golfers' League, and Little of the
        AP  -  180 words
      • Article, Illustration
        Lock icon Jansher makes it 10 with Al Falaj title
        343 12 SQUASH Reuter WORLD CHAMPION Jansher Khan completed an outstanding year on Thursday by adding the Al Falaj open title to his nine other squash crowns. But it was not all easy for the 18-year-old Pakistani, Kept constantly under pressure by Australian Chris
        Reuter  -  343 words
      • Article
        Get the right defence for suit contracts
        858 12  -  BRIDGE By MIKE THUMBA Defence against suit contracts There seems to be quite a bit of confusion over the strategy to be adopted in defending a suit contract. In defending a notrump contract, the main approach you employ would be to establish your
        858 words
      • Article
        Romp home with Handsome and He's Dawan
        595 12  -  on TMCK with Brian Miller THERE WILL be no stopping Handsome and He s Dawan from collecting the plums of the day when they line up for the Sultan s Gold Vase and the Coronation Cup in Ipoh this afternoon. He's Dawan, who
        595 words
      • Article
        Lock icon Kiwis struggle against fiery Aussies
        263 12 CRICKET AP AN EXPLOSIVE first over by paceman Bruce Reid set the scene for a torrid morning for New Zealand on the first day of the first cricket test with Australia yesterday. Reid hit Kiwi opener Ken Rutherford on the body twice and rapped his
        AP  -  263 words
      • Article, Illustration
        Lock icon Botham came, bowled and conquered
        672 12 Reuter MANY SPECTATORS come to bury him, but most leave the ground praising lan Botham, the Englishman whose brand of beefy cricket has helped raise Australia's Sheffield Shield competition from the dead. Nearly 11,000 turned out last Sunday for Botham 's home debut for Queensland,
        Reuter  -  672 words
      • Article, Illustration
        Lock icon Becker bounces back to overcome Connors
        460 12 TENNIS AP FIFTH-SEEDED Boris Becker regained his form in the final set to beat No 4 Jimmy Connors 7-5. 2-6, 6-3 at the Masters Tennis Championship on Thursday night. Connors s second straight loss in the US$5OO,OOO tournament virtually eliminated him from title contention
        AP  -  460 words
      • Article
        Lock icon No 2 seed survives stiff challenge
        278 12 Reuter WEST GERMANY'S Isabel Cueto on Thursday overcame strong opposition from Yvonne Derkirv deren of the Netherlands to advance to the quarter-finals of the US$5O,OOO Argentine Open Women's Tennis Championship. The second seed won her third round match at the Buenos Aires Lawn Tennis
        Reuter  -  278 words
    • Executive Lifestyle: Personal Investment
      • Article
        Technological bright sparks on a recessionary horizon
        1084 13 EXCLUSIVE INTERVIEW THE GLOBAL PLUNGE in equity values may not crimp consumer spending as much as initially anticipated. Still, the world economy should brace itself for a rough ride in the aftermath of the Great Crash of 87. That's the assessment of Dr
        1,084 words
      • Article
        Lock icon Chinese porcelain sales break record in Hongkong
        241 13 ART Sotheby's Research Department IN HONGKONG, against a backdrop of one of the world's most volatile financial markets, Chinese porcelain sales were extremely successful. The total was the highest-ever recorded for a mixed-owner collection, and included a world auction record of HK57,480,000 (U*****,000)
        Sotheby's Research Department  -  241 words
      • Article
        Overreaction causing bleak forecasts, says economist
        548 13  -  STOCK MARKETS By RAMESH CHANDIRAMANI EQUITY MARKETS around the world have overreacted to the recent financial panic and are now exaggerating the negative impact that the collapse of share prices will have on global economies. That is a view being expressed by Don Stammer,
        548 words
      • Article
        This is still not a time for heroes'
        405 13 THE GLOBAL stock market crash in October has exacted the greatest toll on the smaller exchanges in South-east Asia, notably Singapore, Malaysia and Hongkong. With share prices down nearly 50 per cent from their highs seen in August and September, the temptation
        405 words
      • Article, Illustration
        UPP — penny stock that wouldn't fold up ;
        1125 13  - UPP penny stock that wouldn't fold up STOCK WATCH by Ramesh Chandiramani ONE LESSON that is painfully learnt during bear markets is that penny stocks always get exposed for what they really are nothing more than pipe dreams. Novice investors invariably always buy cheap stocks with the hope that the
        1,125 words
      • Article, Illustration
        Lock icon Here's looking at ST68O
        223 13  -  ■by RC OVER THE past couple of weeks, this columnist highlighted two significant developments that were hampering rally attempts on the local market lack of intelligent leadership and the near-total risk-aversion of investors. Shocked and confused market players cannot understand why the more significant "mid-term rally"
        Source: Chartamatic  -  223 words
      • Article
        Lock icon Testing of October low expected
        524 13 DOW JONES NYT IT IS an accepted wisdom among technical analysts that Wall Street must test Its October low before it gives an indication whether the next meaningful move in prices is up or down. The low occurred on Oct 19 when the Dow Jones
        NYT  -  524 words
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      12 9 FOR THE CARD THAT GIVES YOU niilJtlMlll-li SPENDING UMIT OF ANY VISA
      12 words
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      Page 9 Advertisements Column 2
      102 9 Inside The Hour Gldss... The Architects of Time mm V ~.v fllKlMllll ji,» V-_Ul< tJKwt SINGAPORE Lucky Plaza #01-36 Tel: *****20/1 We know more about timepieces. When you shop at The Hour Glass you shop with confidence. You shop with the absolute assurance of the authenticity of every timepiece you
      102 words
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  • Page 10 Miscellaneous
    • Miscellaneous
      Page 10 Miscellaneous Column 1
      2629 10 Hepburn, Fellini and Bowie Movies THE Laurence Olivier Film Festival continues with Fire Over England, a nice historical drama about the British-Spanish conflict in the 1500s during the reign of Queen Elizabeth. Flora Robson turns in a flawless performance as the Queen. (Today, 8.30 pm, Channel 12). The Lion In
      2,629 words
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      101 11 ANLXTEN NOW FOR A LIPERIOD"ONIY i 131 Stay two nights with us and enjoy... An extra night free OR A Ss7s gourmet meal at no extra charge Coming home at *Ss7s++ gets even better! When you stay with us for two nights, you can stay on for a third night
      101 words
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  • STOCK EXCHANGE OF SINGAPORE
    • Article, Illustration
      Share prices hit new year-low in nervous trading
      4407 14 THE SINGAPORE stock market yesterday dropped to a new low for the year in moderate trading. Brokers said the market setback was due to nervous foreign fund managers and local investors liquidating their holdings to cut losses in response to the sharp
      4,407 words
    • Article
      Chief price changes
      270 14 SINGAPORE Rises Indices Ok 3 Doc 4 HM A low 50« 214 14 •T Compoura 662.36 650.31 KTCTk '•tang. IM 290 ♦10 8T OS/OS -594 -610 50* nf •3 8 •TCAO) -742® -74*6 lo—k C— 110 7 8T 10-day MA -70*1 -7142 Uan Corpn 140 5 •TO»V
      270 words
    • Article
      Business done on the SES
      3976 14 BID and otter prices officially listed and business in and reported to the Stock Exchange at Singapore yesterday with the number at shares traded shown in brackets in lots at 1,000 units i unless otherwise specified. SECTION ONE MOOS TRIAL ft COMMERCIAL Aetna II 04
      3,976 words
    • Article
      COMPANY MEETINGS
      45 14 TASEK CEMENT Berhad: 26th AGM at the Factory, Tasek Industrial Estate, Tasek Drive, Ipoh today at 11.30am. AYER HIT AM TIN DREDGING MALAYSIA Berhad: 11th AGM at Cempaka Room, Equatorial Hotel, Jalan Sultan Ismail, ***** Kuala Lumpur on Tuesday, Dec 8, at 10.30am.
      45 words
    • Article
      Unit trusts
      280 14 Managers' prices for Dec 5 and Dec 7 Singapore Unit Trust The Commerce 083 089 The Savings fund 072 077 Spore Prog Fund 033 037 S pore Sec Fund 066 060 S pore '"vest Fund 059 063 S pore Equity Fund 039 043* Asia Unit Trust Mol Invest
      280 words
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  • COMPANY NEWS
    • Article
      Lock icon Two breeds of bear and one species of bull
      665 15 cms? mLi The Economist THE WORLD'S stockmarkets track the dollar; so when the dollar crashed, stockmarkets followed. When Wall Street returned to its desk on Nov 30, after the Thanksgiving weekend, Tokyo's Nikkei index had lost 2.5 per cent, and London's
      The Economist  -  665 words
    • Article
      Lock icon Pilecon to focus on housing
      192 15 Bernama ES PILECON ENGINEERING Bhd. a foundation engineering-based company, is to move strongly into housing as its core activity over the next few years. The company has entered into agreements for a number of housing projects in Selangor, Jo hor, Pahang and East Malaysia with
      Bernama ES  -  192 words
    • Article, Illustration
      Lock icon Boustead banks on retail and manufacturing
      625 15 Company keeps an eye on changes in the trading world NST BOUSTEAD HOLDINGS Bhd. while keeping abreast of changes in the trading world, is looking towards the upstream and downstream activities such as manufacturing and retailing for future growth. This does not mean that
      NST  -  625 words
    • Article
      Selected indices
      2 15
      2 words
    • Article
      Tai-Pan's loss narrows to $2.1 m
      101 15 HOTEL TAI-PAN Ltd. an associate of the JC-MPH group, has managed to reduce its losses for the latest interim period. For the six months ended Sep 30. 1967. Hotel TaiPan incurred a net loss of $2.1 million compared with a loss of $3.31 million
      101 words
    • Article
      DIVIDENDS ANNOUNCED
      695 15 SI Ei d*t* Books doM ii Total lor Mm y**r Total (or A 1 S ft 5%lbl Dec 18 Jon 7 Feb 8 5% 5% A/nol Steel 8%TEIb) Dm 2 Dec 16 Jan 30 8%TE 8%TE Amtek Eng 7)4% tbl Dec 14 Dm 17 Jon 18 7)4% 40%
      695 words
    • Article
      KL share prices sink to lower levels in continued selling
      3036 15 SELLING continued unabated yesterday and share prices were driven to yet lower levels at the Kuala Lumpur stock market. Double-digit losses littered the board. The larger losses were posted in the industrial and tin sectors. But. plantation issues attracted selective
      3,036 words
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      10 15 M anagers ust anage BT shows you how every Monday.
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      382 15 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 90 AND IN THE MATTER OF KINSELLY (PTE) LTD (In Voluntary Liquidation) Members' Voluntary Winding-Up At an Extraordinary General Meeting of the Members of the abovenamed company duly convened and held at 10 Collyer Quay #25-02/05 Ocean Building, Singapore 0104 on
      382 words
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  • Article
    Lock icon Economic balance changing
    454 16 Japan and the EC will have to cooperate, says EC official AP A NEW ECONOMIC balance between the major powers is in the making as a result of the recent stock market crash which in the end will require tremendous restructuring in Europe and Japan. The vice-president
    AP  -  454 words
  • Article
    Lock icon Tokyo panel proposes sweeping reforms
    157 16 Reuter A JAPANESE Finance Ministry advisory panel unveiled a set of wide-ranging proposals for a sweeping reform of Japan's financial system, a Ministry official said. The report's suggestions and ideas include the abolition of barriers strictly dividing long-term, commercial, trust and smaller banks' operations and
    Reuter  -  157 words
  • Article
    Lock icon French prime minister wins confidence vote
    229 16 Reuter FRENCH Prime Minister Jacques Chirac won a vote of confidence early yesterday after a rowdy 10-hour parliamentary debate on his government's economic, domestic and foreign policies. Deputies of the opposition Socialist Party stormed out of the debate after their leader Lionel Jospin was
    Reuter  -  229 words
  • Article
    Lock icon EC summit has to grapple with crash crisis
    288 16 AP LEADERS of the European Community began a key summit last night in Copenhagen. Denmark, knowing that failure to solve a cash crisis will bankrupt the giant trading bloc and wither its influence as the superpowers meet. The 12 leaders have to
    AP  -  288 words
  • Article
    Lock icon Indonesia happy with shortened summit
    139 16 AFP INDONESIAN Foreign Minister Mochtar Kusumaatmadja yesterday said his country was happy with the Asean summit's shortened programme and said the cuts in no way diminished the meeting's significance. He told a weekly press conference in Jakarta that the cuts in the Manila meeting had
    AFP  -  139 words
  • Article
    Lock icon Call to end Cambodian conflict
    158 16 AFP AP CAMBODIAN resistance leader Prince Norodom Sihanouk and Prime Minister Hun Sen of the Hanoi-back-ed Phnom Penh regime yesterday signed a joint communique in France affirming their common will to end the Cambodian conflict through an accord by all parties which would be guaranteed
    AFP; AP  -  158 words
  • Article
    Lock icon House approves US spending bill
    141 16 AP THE US House of Representatives on Thursday approved a US$5B7 billion government spending bill by a vote of 248-170 and sent it to the Senate. The bill would push Congress to meet its government budget deficit reduction goals, but also risks a presidential veto
    AP  -  141 words
  • Article
    Lock icon Comex gold and silver
    98 16 Reuter COMEX gold futures cut losses on foreign buying yesterday morning following the dollar's drop, despite the constructive report on US unemployment. In moderate business. February gold held a loss of US$O.5O at U*****.30 an ounce on a comeback from a low of U*****.00 Comex silver
    Reuter  -  98 words
  • Article
    Lock icon Heavy rains hit Malaysia
    70 16 Reuter MORE THAN 1,200 people have fled their homes in north-east Malaysia after rivers rose sharply following torrential rain. The national news agency Bernama said 1,287 people in the states of Trengganu and Kelantan had been put up in flood evacuation centres or by friends and
    Reuter  -  70 words
  • Article
    Lock icon Dow Jones lower
    92 16 Reuter WALL STREET stocks fell I over a broad range in early trading yesterday following a decline in the dollar < against the mark and the j yen and a general stock < decline around the world. World stock selling was i touched off by a steep
    Reuter  -  92 words
  • Article
    UK stock indices down
    95 16 THE LONDON stock market remained depressed yesterday in quiet trading, after Wall Street s negative response to the European interest rates cut on Thursday. At midday, the Financial Times industrial share index was 11.5 points down at 1,252.1 and the Footsie 100-share was 14 points down
    95 words
  • Article
    Tax incentive to encourage export of services finalised
    225 16 THE GOVERNMENT has finalised guidelines on a tax incentive to encourage more export of services. Covering such services as consultancy, data processing, technical, construction, engineering and education, the Export of Services Incentive first announced in the 1987 Budget could free a company
    225 words
  • LATE FILE
    • Article
      Lock icon Japan blocks Gatt report
      40 16 AFP JAPAN, at the annual session of signatories to the General Agreement on Tariffs and Trade, has blocked the adoption of a report that condemned Japanese agricultural oolicies and urged Tokyo to abandon import restrictions. AFP
      AFP  -  40 words
    • Article
      Lock icon German firm to retrench staff
      47 16 Reuter ENGINEERING and agro-ma-chinery group Kloeckner-Humboldt-Deutz AG plans major dismissals as part of a cost-saving restructuring plan. KHO said in a statement yesterday that 6,000 jobs would be cut worldwide, of which '4,500 would come from the domestic workforce of 18,900. Reuter
      Reuter  -  47 words
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      142 16 < •f r rt Bfl m X Ik- m v «>- m Sf •v mm y= 3^ V *9 r» m V •y" S 1. kH i Piaget Dancer. Hand crafted in 18k solid gold and water resistant to 30 meters. i LA COTE-AUX-FEES ET GENEVE Chez les plus grands
      142 words