The Business Times, 9 January 1988

Total Pages: 18
1 18 The Business Times
  • 17 1 BUSINESS TIMES MCI (P) 95/12/87 -V W:*' r'■ > ""V 5V5- T-. Weekend Edition, Janoary 9-10,1988 75 CENTS
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  • 160 1 OvtrHM markets Friday HK Hang Seng Index 2460.67 8.15 Tokyo Nfldcei Average *****.56 80.43 Sydney All-Ordinaries 1309.4 (-6J Thursday Now York (Dow Jones) 2051.89 14.09 London (FT 30 Index) 1434J(-3J) Exchange ntci US$1 129.85/95 yon 1.6595/6605 DM S$2.0440/50 US$1.8000/10 M$« S$0.8050/57 Stmex Euro-$ (Mar) 92.42 6 DM
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  • 179 1 THE US DOLLAR yesterday ended the week strongly in the Singapore foreign exchange market. It finished firmer against the major currencies and closed higher for the fifth straight day against the Singapore currency. In Tokyo, however, the dollar ended lower against the yen and
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  • 66 1 AP COMPETITIVE export prices helped boost Malaysia's trade surplus to M 510.34 billion during the first 10 months of last year, up 71.8 per cent from the same period in 1986, the Malaysian Statistics Department announced yesterday. The department said export earnings rose 24.7 per cent
    AP  -  66 words
  • 576 1  -  FIRST PROSECUTION UNDER REVISED SECURITIES ACT By ELAINE KOH FIRST CAPITAL Corporation chairman Allan Ng Poh Meng was yesterday eharged with one count of insider trading, the first to be prosecuted under the revised Securities Industry Act. Ng, who appeared yesterday before District Judge
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  • 253 1 SHARE PRICES in Singapore fell for the first time this year on profit-taking and news that First Capital Corporation chairman Allan Ng has been charged for insider trading. The Straits Times Industrial Index dropped below the 900 level to close at 895.31, down 16.18
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  • 47 1 Reuter WALL STREET stocks fell early in the session yesterday, reacting to a decline in the dollar rather than a higher-than-expec-ted employment figure for December. The Dow 30 index fell five to 2,047 and losers led gainers by two to one. Trading was active. Reuter
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  • 321 1 Reuter TAIWAN is trying to mend fences with the Asian Development Bank (ADB) and attend its annual meeting in Manila after boycotting the organisation for the past two years, its Foreign Ministry said yesterday. Taiwan, one of the founders of the bank, shunned the
    Reuter  -  321 words
  • 60 1 Reuter YOKOGAWA Hokushin Electric Corp will expand its operations in Singapore and South Korea to meet growing Japanese demand. Yokogawa plans to strengthen its hardware and software assembly lines at Yokogawa Engineering Centre Pte Ltd and Yokogawa Electric Singapore Pte Ltd, wholly-owned Singapore subsidiaries, with hopes of
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  • 43 1 AFP LONDON share prices opened stronger before losing some steam by mid-session yesterday in quiet trading. At 1200GMT, the Financial Times 30 index was up 5.5 points at 1,440.0 and the Footsie 100share index gained 4.1 points at 1.791.3. AFP
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  • 150 1 AFP SOUTH KOREAN businessmen called yesterday for direct investment in China and increaaed technology transfers to boost economic cooperation between the two countries. The Korean Chamber of Commerce and Industry (KCCI) said in a special report that direct investments were the best way to
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  • Page 1 Advertisements
    • 256 1 Nikon Shadow ovar Allan Ng darkens, Paga 15 I;.. LUM CHANG HOLDINGS has secured a US$2O million deal to build 2,000 low-cost housing units in China. HOME NEWS, Pago 2 GOVERNMENT GRANTS for eight (oint Industry -go ve mment training centres amountad to $22.4 million during the financial year ending
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    • 13 1 Full local report, Pag* 14 Regional markets, Page It World martetft, Page 17
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    • 278 1 Nikon SMARTEN-UP! Our simple contest can win you a set of new gear worth $2,000 from Melwani, who will dress the winner from head-to-toe. Page 7 The turkey awards last year's stuffing Right shore, wrong boat Pagtl Our columnist replies I -—Page 10 TV programmes for today and tomorrow Page
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  • HOME NEWS
    • 481 2  -  China project to have 2,000 low-cost housing units By LEONG WEN WAH LUM CHANG Holdings has secured a US$2O million deal to build 2,000 low-cost housing units in China. The agreement for the deal, Its second project in China's Guangzhou city, is to be signed
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    • 434 2 THE MASS Rapid Transit route should be extended to Changi Airport and the Air Cargo Terminal to convey not only passengers but also goods, three academics suggested yesterday. The proposal was put up by Messrs Toh Mun Heng,
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    • 384 2 WITH THE introduction ot long-haul jets, transit points will decline in importance. In their place Will develop mega-hubs to which smaller hubs will feed traffic. What that means for Singapore is that it will have to compete with other airports in the region, one
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    • 192 2 SINGAPOREANS will be treated to a performance by the Washington Ballet Company in tribute to the late Goh Choo San. Sponsor Singapore Airlines is flying In the 28-member ballet company for a memorial performance at Kallang Theatre on Jan 19.
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    • 200 2 THE NATIONAL Kidney Foundation (NKF) has launched a new fundraising campaign in collaboration with three florists where a percentage of their sales would go to the organisation. Mr T K Durai, NKF's honorary secretary, said that he expects 20.000 bouquets to be sold
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    • 167 2 A THREE-MAN trade delegation from China's Shandong province is here to explore the possibility of setting up joint ventures with local companies. Shandong is interested in joint ventures with Singapore companies in food processing, textiles, electronics, petroleum and mining, according to Mr Zhang Zhaoming, deputy director
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    • 332 2  -  By LILY FERNANDEZ THE SINGAPORE Malay Chambar of Com mere® will form a committee next week to help its members in the promotion of international trade. Called the International Trade Promotion Committee, it will provide members with opportunities for international trade through business
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    • 1132 2 AT CONVENTIONAL WHARVES VmnI Earth Arrival Departure KEPPEL WHARVES Auby K31 olongsido 09 *****0 Cotamorco H K2B otongside 09 01/1830 Con Ibuki KI6 olongside 0901/1200 Equotor V <22 okjngwde 0901/2359 How* Arrow KI5 olongside 0901/0700 Huong long *32 olongside 09.01/0600 Krit Morubi K25W olongsido 1101 /0600 U
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    • 179 2 GOVERNMENT grants for sight joint industry-government training centres amounted to $22.4 million during the financial year ended March 31, 1967. The sum was a 14.4 per cent increase over the $19.5 million dished out in the previous year. But nearly half the
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  • Page 2 Advertisements
    • 169 2 r- 1 i <st* Treat your family to a sumptuous Chao Zhou provincial meal at the Qiao Zhou Garden Restaurant. Ask for our special set menu ranging from $28+ for 2 persons, $55++ for 4-5 persons or $88++ for 6-8 persons. A delectable choice of Qiao Zhou dian xin are
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  • OVERSEAS
    • 478 3 Reuter SOVIET and US grain officiate held a secret meeting in London on Wednesday and probably diacusaed extending Soviet purchaaes of American grain, London traders said on Thursday. The Soviet Union, the world'a biggest grain buyer, called for the aurpriae talks with
      Reuter  -  478 words
    • 178 3 AFP JAPAN and Britain will enjoy higher growth rates than other major industrialised countries in 1968, aa they did in 1967, a Japanese economic reeearch institute predicted. A report published yesterday by the Nomura Research Institute forecast a 1968
      AFP  -  178 words
    • 875 3 ARRIVALS Operator o+mcm number Local Mm* From SU SQ417 0820 DXB/KHI sv SV398 0635 JCD/MJH KAL KE624 0850 KUL AAAS AAH811 0910 PfN MAS AAH671 0920 Km AC 0950 YYZ/IHR/80M CAL 0806 1000 CGK CPA 0(710 1015 CGK MA M421 1100 IWN GU GA960 1100 CGK SU
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    • 119 3 AFP JAPANESE Finance Minister Kiichi Miyazawa said yesterday that the Group of Ssven (G-7) major industrial nations would continue coordinated market intervention in case of the US dollar's sharp fall. Mr Miyazawa told s press conference in Tokyo that the 0-7 nations Canada,
      AFP  -  119 words
    • 189 3 NYT AMERICAN SECRETARY of Stste George ShultZ said on Thursday that an agreement on Afghanistsn should include not only a withdrawal of Soviet troops and a halt in US arms to Afghan rebate, but aiao an and to Soviet military aid to
      NYT  -  189 words
    • 195 3 AP EAST GERMAN laadar Erich Honackar bagan an h(stork: viait to Franca on Thuraday, (ocuaing on paaca and diaarmament in his opening talks with Praaidant Francois Mlttarrand. "I hopa you will And in thaaa diacuaaiona material for uaaful raflaction for paaca and davelopment
      AP  -  195 words
    • 513 3 Reuter WEST GERMAN Finance Minister Gertfard Stoltenberg, who made a virtu* of restrictive financial policies, conceded on Thursday that his country's 1968 budget deficit had soared out of control. He ruled out early tax cuts to boost the sluggish economy. Mr Stoltenberg, who
      Reuter  -  513 words
    • 287 3 AP ISRAELI TROOPS opened fire to force back crowds of Arab proteeters during violent ciashee at two refugee campe in the occupied Gaza Strip, killing a 15-year-old Palestinian and wounding seven others, UN officials said yeeterday. A month since unrest erupted on Dec
      AP  -  287 words
  • Page 3 Advertisements
    • 59 3 I I I I Th e business person's choice. every I I II I I II II I Tuesday, Thursday, Soturdoy and Sundoy I M f I I #1 I I Leaving Chang. Airport at 22:05 1 jv_yj_ 1 hoors and arriving Heathrow early the following morning. Call your Travel
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    • 165 3 ZEISS IS COMFORT Look to Zeiss for the ultimate in eye wear. You will be impressed by the supreme quality finish of our products. That is because nothing is left to chance. Take our gold-plated frames. As many as 40 operaJ tions are required. This includes the multi-layering JM process
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  • Page 3 Miscellaneous
    • 36 3 ft y/// Singapore OUTLOOK: Shavara (W t*V MM I* Sw ♦o 7.30pm on Jan 0 at 4m Rainy day* Ms mSi— I Son Frfc'co Son Juan Soo Paulo SaouJ Sydnay Taipai Tal Avf* Tokyo Toronto Voncowi
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    • 46 3 Doonesbury mi, I GUESS I cant put it off i ANY LONGER... J o C YBAH. THIS fS ***** REDFERN FKJ¥THEXHARACWR"PESK. TPUKB THOSE FILES ON QARX HAKT*P*NHBUFE SENT BACK *JJP, PLEASE. m i BY GARRY TRUDEAU lJ l 1 ifii 0 n ft Si iIuJJIL I
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  • MONEY AND EXCHANGES
    • 1709 4 SINGAPORE: THE US DOLLAR yesterday closed weaker against the yen, but firmer against European currencies after fluctuating in moderate and uncertain trading. The dollar started on a firm note on short-cover-ing underpinned by an overnight statement by US Federal Reserve vice-chairman Manuel Johnson that the G-7 communique envisioned
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    • 176 4 Indicates the ntragt of Ihe prim* lending rates of 12 ma|or banks In B'pore Interbank market ratee (offer/bid) on Jan 8 us$ DM SWFC 7 doyt T-47/1 1/2 3/9 3 5/16 3/16 1 3/9 3 3/4 5/i 1 15/14 13/16 13/16 11/16 3 3/9 1/4 a 3/t
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    • 62 4 THE OVERNIGHT rate on the Singapore Interbank market was down point to close at 3 per cent yesterday. One-month, twomonth and three-month rates were unchanged at 3%, 3 1/16 and 314 respectively. r S$ Interbank rates > at 12 noon yesterday: orm M> Owright 3 7% l-morth 3ft
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    • 86 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BID OFFER HIGH LOW 3 months BQ*****H 07.4.88 2.98 2.93 3.02 2.88 6 months BY*****S 30.6.88 3.04 2.99 3.08 2.99 1 y»or BY*****T 24.11.88 2.20 2.15 2.20 2.20 Government notes and bonds Period Issue Maturity Coupon Yesterday's dosing
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    • 343 4 ASIAN DOLLAR deposit rates closed steady at its opening levels yesterday, with trading generally quiet in the afternoon due to a lack of interest. Dealers said most operators were sidelined awaiting yesterday's release of US December unemployment data, expected to be unchanged from November's 5.9 per cent.
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    • 569 4 MARCH Eurodollar opened six ticks higher than the previous close at 92.42 following higher dollar and bonds market on Manuel Johnson's remarks of a fundamental turnaround In the US trade balance and reports that the G-7 wants an indefinite upward range for the dollar as well as lower commodities
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    • 138 4 Gold futures on Jan 7 8 I ouncM. USS pw troy 01 jnca Opon Mg*. Law M* ion 441.20 2.20 Fob 4*1.20 4(2(0 443.10 2.20 Mar ***** 2.20 Apr 491 JO 492jOO 4*S BO 4*9.10 2.20 inn 497_50 497JO 493-50 494*0 2.20 502.60 503 60 502.00 500*0
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    • 1743 4 CURRENCY FUTURES OPTIONS Fri May, Jar wary 0, 1986 DEUTSCHEMAJIK (UMCX) JHI > 00 Mk i 1 4 N*h Ln Sae H* Lot Oaa 56 CAS 57 360 CAS 56 260 CAS 59 160 CAS 60 97A 93 CAS 61 21 20 20 46 *2 5A 3 1051 140
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  • Page 4 Advertisements

  • BANKING AND FINANCE
    • 291 5 FT CHRISTOPHER REEVES, who was ousted as chief executive of Morgan Grenfell, the merchant bank, during last year's Guinness* affair, is to become sn international consultant for Merrill Lynch. He will be based in New York, and will advise Merrill Lynch on
      FT  -  291 words
    • 316 5 Reuter MERRILL LYNCH and Co Inc is initiating a global cost reduction schsms that will raduce its worldwide staff by about 10 per cent within a month, Merrill Lynch officials said in London. A Merrill spokesman said the firm's London operations, which employ
      Reuter  -  316 words
    • 587 5 USs27m sale price considered low NYT THE MANUFACTURERS Hanover Corp said on Thursday it will withdraw from tha institutional monay management business, making it one of the few large banks to abandon that field. Bank officials said The Manufacturers Hanover Investment Corp would be sold
      NYT  -  587 words
    • 87 5 Reuter UNION BANK of Hongkong Ltd has agreed to sell its stock and bullion divisions to one of its directors. A company statement said the bank will sell the entire capital in UB Securities Ltd and UB Bullion Co to Dogood Trading Ltd,
      Reuter  -  87 words
    • 421 5 FT SHORT-TERM interest rates on Mexican Treasury bills (Cetes) have risen by up to 33 percentage points, as part of a dramatic new drive by the Mexican government to soak up liquidity in support of the anti-inflation programme it began unveiling last month.
      FT  -  421 words
  • COMMODITIES
    • 256 5 Reuter CBT SOYBEAN futures cloeed on or near the lows on Thursday, down 7-1/2 to six cents per bushel in moderate trade. March settled at U556,265 after poeting a 12-cent range. Futuree retreated from early higha after new crop months set contract highe when C and D Commodities and
      Reuter  -  256 words
    • 302 5 London Commodity Exchange Bvysf /S#S#r dosing pricos an Jon 7 (£/tonrn uni* u ipodflod). "nylon doiinQ pnctt In CQWh tosh In aof London, toHon option OF t o nion Jan 1206/1207 (1217/1218) Hl^/Low 1214/1203 Mar 1235/1236 (1248/1249 High/low 1242/1232 Sate* (nil) Cocoa Mar 1115/1117 (1132/1134) High/low 1126/1114 May
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    • 229 5 Reuter CBT WHEAT futures eased alter again setting new contract highs early on purchases by C and D Commodities and Staley, closing down 2-3/4 to 11/2 US cents per bushel in moderately active trade on Thursday. March settled at US$3.2B-3/4 after posting an 8 cent range on the day.
      Reuter  -  229 words
    • 504 5 Crude palm oN futures closed higher in active trading on the Kuala Lumpur Commodity Exchange yesterday. Dealers said that prices held steady throughout the day due to good support and some profit taking. Reports that CPO production for December 1967 would be lower than the previous month also
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    • 242 5 Chinese Produce Exchange S#ll#n noon doling p >rkwt an Jon 8 (SI/100 kg) Coconut oil Bv* FOB 104.00 OW drum FOB 114.00 N*w drum FOB 118.00 Copra Mlx«d (Ioom) 58 Pepper _hhx WUX1TO* wiwiw FOB NIW 1187 JO Sarawak wMt FOB foq NIW 1172 JO Sarawak tpvdol block
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    • 208 5 SMGAPOftE The rubber market closed slightly higher yesterdsy with February 1 RSS buyers quoted at 223.50 cents/kilo, up 0.75 cent from Thursday's close. Aftsr s steady opening, prices moved up slightly on speculative buying of nearby positions in quiet trading. Prices held steady in thin afternoon trading with light
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    • 224 5 RAS prices msc MMftFO NOON CLOSE In* 1 tSS Prompt 225.50 226J0N VSJJW f 225-50 226J0N bit 1 RSS Fob 88 223J0 224.00N 223J0 224.00N Int 1 RSS Mor 88 221.75 222.25 ***** 222.25 bit 2 RSS Of 221.00 223.00 221.00 ***** Int 3 ItSS Of 219.00
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    • 80 5 (cami/kg, 1 -tor poiWn) FEBRUARY 88 MARCH 88 (currant month) (forward month) RAS NOON NOON luy«n jilUn luytn S<WTI SS* 30 336-50 228JON 226.50 338JON SS» 50 335XX) 237.00N 225.00 337.00N MRELB lyygJ! tuyn SMM SMt cv 379 JO 381 JON 280.50 383J0N SMI I 279.50 281.50N
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    • 348 5 HONGKONG: Gold clossd lower in quiet trading yeaterday, influenced mainly by a late rebound in toe US dollar. Dealers said the metal u Q, .11 W Owl'KX" CIOvOO ml U*****.***** an ounce against an opening of U*****.20/70. This compared with New York's U*****.70/461 JO doee. On the Hongkong
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    • 114 5 Reuter INCREASED buying demand from Europe puahed tha Kuala Lumpur Tin Market (KLTM) anothar two conta higher at tha doaa ye»tarday to M 517.29 a kg, dealers aald. Tha fall In tha European market of £20 a tonna on Thursday failed to dampen aentiment becauae the drop wee
      Reuter  -  114 words
    • 79 5 IT WAS a confusing end to the week in the oil market. Futures markets in London and New York appeared on the way down but a shortage of products ex-Singapore maintained South-east Asian prices. Dubai (F«b) Wm T.,<* USt/banal 15.42 •0.2$ WTT (Fab) 17.40 -042 Products (FOB
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  • LETTERS TO THE EDITOR
    • 485 6 FIRST CAME CREDIT; then came the credit card; and then arrived the "affinity card". This is a special version of a credit card whereby a sporting club, an alumni association, a religious organisation or even an activist group teams up with a bank to sponsor a credit
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    • 291 6  -  EDWARD K H GOH Dear Sir I refer to your report headlined "Ex-chief of MTP to oust three directors" in BT, Jan 7, and would like to respond to Malaya Tin Printing Co Ltd (MTP) executive director Joseph Wong's statements relating to my appointment
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    • 705 6  -  J P L Wong Executive Director Dear Sir We refer to your article "The truth and the questions it raises'' which appeared in the Hock Lock Siew column in BT, Dec 29. 1967. The following points need clarification: e Mr Goh
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    • 1625 6 Dear Sir The SES's letter written by its public relations manager, Mr Peter Chia (BT Dec 12-13) raises some questions. I am not sure what Mr Chia meant by his statement "Surely, the timetable is indicative." According to BT's 5/11/87 report, the
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    • 208 6  -  Alan S S Ow Deer Sir We refer to the letter from "Concerned Corporste Officer'' in BT. Weekend Edition, January 2-3. 1968. We wish to thsnk "Concerned Corporate Officer'* for his suggestion. His proposal was considered when the amendment was being drafted. It calls
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    • 319 6  -  Henry Heng Dear Sir We refer to the article headlined "SDF's accumulated funds fell only 2 per cent despite levy cut" which appeared on the back page of the BT, Jan 5. There are two points we wish to clarify. Your article
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    • 466 6 Dear Sir OUB Investment Management Limited's (OUB IML) explanation of the dismal performance of its Union Gold Fund (BT Jan 2-3) is pathetic. If price earnings ratio (PER) is the sole criterion for investment analysis, especially when making inter-country comparison, an investor does not
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  • Page 6 Advertisements
    • 38 6 BT wolcomo* lottors from roodors. Your lottors must locludo your signature, full offlco tolophono numbors, If any. You may odd pooudonymn, If you with. Addross your lottoro to: Tho Editor, Buoinooo Tlmoo, 390, Kim Song Rood, Singapore 0923.
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  • Page 6 Miscellaneous
    • 783 6 mmi&m-miGmsm CRYPTIC PUZZLE ACROSS 8 Some, for sure (4, 3) 9 Assumes control when one goes in to bet (5. 4) 13 A man going by the name of Bird (5) 14 A twinkling light (5) 15 The foolish Peter's caught cold, it appears (7) 16 Lose hope for the
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    • 14 6 U)HQ PyjT Po_LTMIS U>ORK imto r"W IN-TRRV? ©Even.ng Standard Co Ltd.l9«;-19*7 CODSU>RULOP^ r A
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  • Executive Lifestyle
    • 166 7 THE HK Stock Exchange is going through a pretty rough time. Some say it's a jungle out there and they need a strong man to handle the situation. Appropriately, one of the men appointed to one of the new management committees is an individual called Tarzan.
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    • 1646 7  -  By GOBBLE D GOOK IT WAS A YEAR of extremes and in retrospect, full of stumbles and full-face falls like most years. Executive Lifestyle, fighting off media fatigue, spy revelations popping up like toast, pop stars and dirty linen, doomsayers, the yuppie syndrome and
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    • Executive Lifestyle: Entertainment & Pursuits
      • 773 10  -  CINEMA By JAIME LYE THE SUBJECT of turkeys continues—a lot of them flew Hollywood's coop last year, proving yet again that big budgets do not guarantee good movies, whether or not they throw blind camels or smelly hairy creatures in for good measure. In case you think
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      • 909 10  -  Our HEALTH columnist answers some personal questions... By RICHARD SEAH IN THE ONE YEAR that this column hat been running, tome question#, remarkt, attertions and requettt often aroee. Below are tome of them, plut my retponte. From friendt who had not teen me for
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    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 756 9  -  NIGHTSPOTS By BRIAN MILLER IT IS SAID that where jazz is concerned, you either love it or lotfth it. Personally. it has never been my cup of tea and simply because I don't have an ear for it. So, it was with heavy feet
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      • 497 9  -  -By Brian Miller YOU'VE SEEN the face. You've probably heard the voice and I'm sure you know the name. Wendi Koh lead singer of the group Heaven Knows has certainly come a long way and if she has changed, it
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      • 820 9 FOOD By THE POOD TEAM THE STREETS of wwt coast American cWee ara chockful of tham; Hawaii probably axports a hybrid version; and a raah of look-alikes have appeared around tha world. We're talking about tha American cafe/bistro. Tha kindaat thing wa can say
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      • 797 11  -  DANCE By GENEVIEVE CUA LOOK INTO a working person's bag of weekend diversions and you'd probably find occasional rounds of golf or tennis, or sundrenched weekends of water skiing and sailing. Look again and you may also find evenings of dance. No, not the
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      • 563 11  -  By LISA LEE THE LENINGRAD BALLET promised to be different with its speciality being dance miniatures and its unusual "every one is a soloist" dance policy. But if you went expecting a dazzling display of technical artistry from this top Russian company and a broad sample
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      • 989 11  -  CYCLING By CHARLES SAVAGE PEDAL POWER is taking some intrepid Singaporeans off the beaten track to adventures and discoveries in our own backyard. One group of recreational cyclists rides almost every weekend in the ulu areas of Singapore, Johor and Indonesia.
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      • 490 11  -  JAZZ By Charles Savage THE TEARFUL STRAINS of Just A Closer Walk With Thee slowly trail off, and the band breaks out into a foot stomping rendition of the same number. Irreverence, some would say for the just interred, but that's the
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      • 207 11 SHORT TAKES IT'S NOT CLEAR how popular Chinese television shows are, but the public loves the advertisements, according to a recent survey. A survey of Beijing residents found 96.1 per cent enjoy watching TV ads for just about any product, from cosmetics and
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      • 663 11  -  Compllad by Sakina Dhilawala CINEMA: Mannequin starring Andrew McCarthy, Kim Cattrall and Michael Gottlieb. Showing at Cathay: 11; 1.30; 4; 6.30; 9. Innerspace Starring Dennis Quaid, Martin Short, Meg Ryan and Kevin McCarthy. Showing at Capitol: 11; 1.30; 4; 6.30; 9.30 and Changi: 11; 1.30; 4; 6.45; 9.15. Stand
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    • Executive Lifestyle: Sports
      • 566 12  -  YACHTING TNnSE^/Carlcer YACHT FWE By JEFFREY TSANG TOMORROW'S Tatter/Cartier keel boat race is almost certain to see Magic Dragon 2, a 61-foot leviathan, cross the finish line first. But the race is still wide open to anyone. Thanks to the handicap system whereby
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      • 501 12 FIGURE SKATING AP AN ANGRY Debi Thomas turned aggressive on Thursday and won the compulsory figures at the US figure skating championships. Thomas, the 1986 national and world champion, struggled on the first figure, a counter, and wound up second behind Caryn
        AP  -  501 words
      • 481 12 TENNIS AP WORLD number one Ivan Lendl has declared himself on target for his assault on next week's US$l.9 million Australian Open tennis championships at Flinders Park in Melbourne. Lendl, 27, hopes victory in the open will be the first step towards
        AP  -  481 words
      • 320 12 AP CHRIS EVERT, rejuvenated by a six-week break, said on Thursday that she intends to give a 100 per cent effort throughout the 1968 tennis season, which may be her last. Evert, 33. said she had taken almost a month of
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      • 546 12  -  on TMCK with Brian Miller TRACK JESTER, a bold-looking chestnut from trainer Charles Read's yard, appeals as a good thing in today's Ipoh card and I would make him my banker in this the first race day of the new
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      • 169 12 SNOOKER AFP WORLD SNOOKER'S governing body refused to order a blanket ban on beta-blockers on Thursday, despite pressure from the British Government. The World Professional Billiards and Snooker Association decided to allow players to continue using a cardio-selective beta-blocker on medical prescription. A WPBSA statement
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      • 801 12  -  BRIDGE by MIKE THUMBA Defensive second-tiend play In our defensive play series we have already discussed two main topics ie. the opening leads and signalling. The third major topic we propose to discuss in the series is the "second-hand play". First of all let's
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    • Executive Lifestyle: Personal Investment
      • 910 13 ART TRADE "WITH WORLD financial markets l2n turmoil, there are now signs *fiat the art market has also beIcome fragile. Charles Allsopp, •chairman of Christie's UK, the *London-based international art muction house, looks at the .acene in an interview with
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      • 424 13  -  by Jeremy Eckstein MENTION THE NAME Vincent Van Gogh, and one of the things most likely to come to mind is that he was the artist whose works have achieved the very highest prices at auctions over the past year or so.
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      • 540 13 BONDS Reuter FRANCE is about to pay owners of what financial analysts call the best small saver s deal since World War Two nearly five times as much as it borrowed from them back in 1973. On Jan 18, when France pays
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      • 1267 13  -  PORTFOLIO MANAGEMENT BEannsrs CDfinERjM You don't need a half million dollars before a professional will manage your money for you. Some investment bankers will help you construct a personal portfolio for as little as $50,000. By ROSIE TAN LAST YEAR'S stockmarket
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      • 347 13  -  I ifflli By RAMESH CHANDIRAMANI THE STRONG ADVANCE this week has vindicated this columnist. Readers of Chart Point over the past three weeks would remember that I'd drawn their attention to how sufficient technical evidence was starting to suggest thst the Singapore market was poised
        Source: Chartamatic  -  347 words
  • Page 7 Advertisements
    • 336 7 CHABC FOR A CHANCE CALL 532 3577 CHASE CLASSIC VISA »4»a I i i il M 1/!! Mi 4 W■ Itr, New gear for the New Year TO CELEBRATE our first successful year we invite all our readers to take part in a fun game. Below are anagrams of the
      336 words
    • 224 7 a Timeless values. These two exquisite watches, in the shape of peaches, are called «For China». The craftsmen of Geneva were renowned for their mastery of enamel and these watches are a triumph of their art. By their efforts the subtle gradations of colour found in the skin of the
      224 words

  • Page 8 Advertisements
    • 852 8 A/i T ✓v > i MING COURT HOTEL DIAN XIN BUFFET t w <ik; J m y vsr^i Our Dion Xin buffet lunch spread wiN also include authentic Cantonese dishes like Braised Beef Brisket in brown sauce, Red Braised Chicken in vinegar, Fried Black Fungus with shredded meat Enjoy rich
      852 words
    • 223 8 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* -I- 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
      223 words

  • Page 9 Advertisements
    • 554 9 w *ir. f _rv Sunday Brunch: A great family outing. If s a wonderful way to combine a late breakfast with an early lunch on a lazy Sunday. Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roast... right through to pastries, puddings, fruit salad and
      554 words
  • Page 9 Miscellaneous
    • 1016 9 ill 1 Saturday BBC MO mHz In VHF Band M SAM World News 0.00 The World Today. OJS A Letter from Northern Ireland. 6.30 Financial News, 0.40 Reflections. 6.45 Sports Roundup. 7.00 World News 7.00 Commentary. 7.1S From the Weeklies 7.30 Multitrack 3. 0.00 World News 0.00 News about Britain.
      1,016 words

  • Page 10 Miscellaneous
    • 1611 10 Astaire, Bronson and Beckett Fred Astaire dances up a storm in Daddy Long Laga, but it doesn't make up for this overlong musical about a playboy (Astaire) who anonymously sponsors a waif's education, but who gets into problems when she falls in love with him. Leslie Caron plays the waif.
      1,611 words



  • Page 13 Advertisements
    • 28 13 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, Singapore 0923.
      28 words
    • 713 13 NOTICES IN THE MATTER OF THE COMPANIES ACT, CHAPTER SO BOLARO HOLDINGS (PTE) LTD tZI.T VOLUNTARY LIQUIDATION At an Extraordinary General Meeting of the Company deemed to be held at 36 Robinson Road, #17-00 City House, Singapore 0106 on the 31 Dec 1987 the following special resolution was daly passed:
      713 words

  • STOCK EXCHANGE OF SINGAPORE
    • 4386 14 AFTER RISING for four continuous trading sessions, the stock market took its first tumble for the year yesterday. The factor that triggered the fall was news that Mr Allan Ng, the chairman of First Capital Corporation, had been charged with one
      4,386 words
    • 224 14 SINGAPORE Rises lnaH *l., 0 Karoanol 476 +1* IT CompaaM* *0647 ***** OUT ISO 14 ITOt OS 4-441 4-142 Troctoo 344 4-12 IT CADI -47S1 4M •arfrMai 233 +1 IT 10-day MA .7003 -6901 CM Yung 72 0 IT OOV 4-*****00 4-*****41 Spor. Iu> 295 4-7 ST
      224 words
    • 4030 14 SECTION ONE MOUOTUAL ft COMMERCIAL Acma 1128 8 I 30 SI (241 1 29 (2 131 IIS 130 3) 128 IIO 128 (S 129 Alcorn C50 SI Amal Stool 50* II 48 B I 49 Si 071 1-50 (2 I 49 091 1.54 (72 1.53
      4,030 words
    • 255 14 Monogers' prices for Jon 9 11 Singapore Unit Trust Ttw Co—M 093 099 Th* Savings Fund ojo 086 S'por* Prog Fund 037 041 S'por* Sk Fund 062 067 S'por* Invast Fund 066 071 S'por* Equity Fund 044 048* Asia Unit Trust Mol lnv*tt Fund 126 1 40 Mai
      255 words

  • COMPANY NEWS
    • 1204 15 ABOUT 20 YEARS ago, Allan Ng Poh Meng was a bank accountant. By 1980, he was deputy chairman of United Overseas Bank. Five years later, he had embarked on a career as dealmaker. Just one year ago, he started to transform the shell of a
      1,204 words
    • 684 15 MBT SOME shareholders of the Boustead companies recently expressed concern over what they regarded as a weakening of the financial position and performance of this 160-year-old former British "hong". Boustead Holdings, restructured since mid-1982, and its three listed plantation subsidiaries held their annual general meetings
      MBT  -  684 words
    • 470 15  -  By AMY BALAN BANK OF AMERICA is seeking to wind up Gineer Investments Pte Ltd, the firm at the centre of a boardroom war waged by directors of Malaya Tin Printing. The bank filed a winding-up petition on Jan 6. the same day
      470 words
    • 195 15 INTENSE COMPETITION from imported flour has sent Khong Guan Flour Milling Ltd (KGF) to China to set up a joint-venture to mill and sell wheat flour, vegetable oil, animal feed and other related food products. The agreement, which was approved by the Chinese authorities
      195 words
    • 44 15 SINGAPORE LAND has bought out its joint-venture partner's stake in RMA-Land Development Pte Ltd for $15.31 million. Singland bought the 11.56 million shares in RMA-Land from Singapore Rubber Millers Association yesterday. RMA-Land is now a wholly-owned subsidiary of Singland.
      44 words
    • 325 15 F N may raise funds through rights, loan stocks SOFT DRINKS manufacturing giant Fraser Neave Ltd is considering various projects that could affect the size and composition of the group. In the company's latest annual report, F N chairman Michael Fam said the funding arrangements of the group could also
      325 words
    • 170 15 MBT UNITED ENGINEERS (Malaysia) has disclosed that the directors and shareholders of Halimtan are Shah bin Abu Mansur (3.2 million shares) and Mohd Rusland bin Abu Samah (800,000 shares). The disclosure was made in its reply to the Kuala Lumpur Stock Exchange's
      MBT  -  170 words
  • Page 15 Advertisements
    • 100 15 TELL TKM ABOUT THE STOCK MARKET OVER OVER THERE, Let your office overseas follow the fluctuations. The ups and downs. With The Straits Times Weekly Overseas Edition. Pnnted on lightweight paper in convenient tabloid size, it carries the week's news on business, investments, the economy, Asean and the region, sports
      100 words
    • 3 15 Letters, Page 6
      3 words

  • REGIONAL MARKETS
    • 690 16 Competition will be tough Reuter US FIRMS are avidly courting Japaneee partners in the recently liberalised Japanese market for advanced telecommunications services, but experts say they may be expecting too much from a market still in its infancy. "Because the Japanese economy
      Reuter  -  690 words
    • 132 16 UPI NIPPON Telegraph and Telephone Corp, Japan's domestic telecommunications giant said it will soon issue Swiss franc bonds worth 200 million Swiss francs (about US$l49 million). The company said the 10-year bonds, with an issue price of 100.25 per cent, will have
      UPI  -  132 words
    • 145 16 AFP THE BANK of England has been required to buy only 1.8 per cent of the British government shares in British Petroleum since they were floated on the stock market last October, the Treasury has announced. The government stepped in with
      AFP  -  145 words
    • 3953 16 BULLS DECIDED to taks a breather yaatarday and •hare prices on the Kuala Lumpur stock market retreated slightly across the board in moderately active trading. Save for a selective stocks, most counters were traded within narrow margin. This is deepite a better show of
      3,953 words
    • 313 16 Reuter BP AUSTRALIA Ltd said it has made a large gas discovery in Papua New Guinea which could contain 1.5 trillion cubic feet of gas. BP Australia said the Hides One well in the Southern Highlands area flowed 15.9 million cubic feet of gas a
      Reuter  -  313 words
    • 1403 16 Hongkong SHARE PRICES on the Hongkong market closed slightly higher in active trading yesterday, but profit-taking brought them well below their early peak, brokers said. The Hang Seng Index ended the day 8.15 points higher at 2,480.67 after an early surge of 43 points and the broader
      1,403 words
    • 98 16 Reuter DAIWA HOUSE Industry Co Ltd plans to start urban and resort development projects in eastern Australia from next summer, the company said in a statement. The projects will be built by wholly-owned unit P®'** House (Australia) Pty Ltd. set up in
      Reuter  -  98 words
    • 399 16 Reuter SHARE PRICES on the Tokyo stock market cioaed firm yeeterday but off their high* in active trade aa continued bullish sentiment collided with profittaking at a near-term celling, brokers said. "The market theme has been set," said a broker at one of the four Mg Japanese brokeragea, referring
      Reuter  -  399 words
    • 435 16 Reuter THE AUSTRALIAN share market closed easier yeeterday, but off the day's lows following selling in the mining sector end light profit-taking among induetrials. Brokers said the market was disappointing considering strong performsnces overseas, particularly on Wall Street At the close, the All Ordinsries Index was down 6.7 points
      Reuter  -  435 words
    • 237 16 MM OS All Sineara Indus.. Catfwy Conr ChAHQ Hm Bink. ChangLoong. CN# rMn Camaot Chin Hun Flour China Cham CMna Dav CMn* Eiact Wtra. China QuN Pta* wwni n#Oi*„ CMna SM Chung Hwa Pulp Chung Shlng Tax... Far Eaat Dapt FarEaatTaa. Flrat Bant_ Formoaa Chamical UTS 170 67 SO
      237 words
    • 149 16 Reuter THE SECURITIES Exchange of Thailand Index rose 6.89 to 327.37 on a turnover of 8,877,526 shares w0rth961.06 million baht. Reuter JAN 99 BAH1 r Ao Kham Thei,_ Ayudttya Investment 322 Bangkok Agro-lnd 94 ♦4 7 >1 10 1 Charoong Thai Wire A Cable 333 Datamat 211 Dhsne 81am
      Reuter  -  149 words
    • 33 16 JAM mot *b 3 1 Irtl M(3l "vinos unc* B*o0u*« Con B Ftral Phil HMgs 110 1125 004 10 1.» 1 -0 01 Mtrcoppv 1.49 -004 < "fm L^lvJTTJ JLjH tyriMB&BBm I J
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  • WORLD MARKETS
    • 1022 17 New York Reuter THE NEW YORK stock market reversed course late on Thursday, closing with a moderate gain and salvaging the New Year rally. Wall Street has now advanced for four straight days, due in large part to a strong recovery in the dollar, which again
      Reuter  -  1,022 words
    • 873 17 London Reuter OPTIMISM for the new account starting on Monday and a firmer dollar combined to push share prices higher at the opening of the London stock market yesterday after a mixed early trend. Modest rises overnight on Wall Street and in Tokyo also played their part
      Reuter  -  873 words
    • 1192 17 Selected indices HONGKONG Hongkong Index Fridoy 1 ,609 24 Thursdoy 1.603 63 Week ago Closed Hang Seng Index Friday 2.***** Thursday 2.4S2.52 Week ago Closed All Industrials Friday 2.0043 Thursday 2.007? Week ago Closed NEW YORK Dow Jonos Thursday 2.***** Wednesday 2.037 80 Week ogo 1.***** TOKYO Nikkei Average Friday
      1,192 words
    • 74 17 Reuter JAPAN'S Sanyo Electric Co says it will start importing television sets from a plant it owns in the United States because the high yen had spurred consumer demand. The first 5,000 sets will arrive in June from the plant in Forest
      Reuter  -  74 words
    • 811 17 Equity mutual funds outdo S P index Benefit of holding some cash r WALL STREET NYT THE STOCK MARKET'S tumble last October dealt a harsh blow to general equity mutual funds, but an odd thing happened along the way. In the final quarter, these funds managed to outperform the Standard
      NYT  -  811 words
    • 479 17 UPI DESPITE media mogul Rupert Murdoch s announced intention to sell or cloae the New York Post and keep the Boston Herald because of a new law, a New York senator wants to know how the bill slipped through Congress. Senator
      UPI  -  479 words
    • 431 17 UPI PENNZOIL CO and Texaco Inc have affirmed their commitment to the US$3 billion settlement of their litigation over the ownership of Getty Oil Co. The statements came after Mr Carl Icahn, Texacos largest shareholder, on Tuesday proposed to file his own reorganisation plan
      UPI  -  431 words
    • 432 17 NYT THE A H ROBINS Co. which has operated under a bankruptcy courts protection since August 1985, on Thursday began an uphill battle to win support for a plan to clear its debts and reorganise itself as a subsidiary of Sanofi, a big French
      NYT  -  432 words

  • 432 18  -  By JEFFREY TSANG THE PUBLIC Utilities Board will spend $326 million this year on development projects, bringing its total investment in property, plant and equipment to $7.28 billion. Of the $326 million, $273 million, or 84 per cent, is earmarked for electrical
    432 words
  • 347 18 THE Prime Minister's press secretary, Mr James Fu, has requested that a Jan 2 letter of his which the Hongkong-based Far Eastern Economic Review did not carry in full be printed, in toto, in the magazine's next issue, or
    347 words
  • 92 18 NEW ZEALAND Overseas Trade Minister Mike Moore yesterday said the US decision to increase its beef imports was good news. Mr Moore said in a statement that the US had recently announced it would raise the trigger level of beef imports to 1.53 billion
    92 words
  • 431 18  -  MOVE TO ENSURE CONTINUITY OF WORK By TONG SUIT CHEE THE HOUSING and Development Board is starting a new contracting scheme which will see three building projects being offered under one tender. Called the Serial Contract Scheme, it is designed to assure contractors continuity
    431 words
  • 506 18  -  By LIM SOON NEO THE Mass Rapid Transit system is expected to serve the stretch from Outram Park to Clementi in mid-March, Dr Yeo Ning Hong announced last night. "With the good progress we have been making in ttie last four years
    506 words
  • 165 18 COMPUTER ENGINEERING Systems, s diversified computer company, is thinking of housing its computer recovery centre in bombproof shelters in two to three years' time. Designed to withstand fire and bomb blast and so protect the computer facilities from terrorist attack and other damage, the shelters
    165 words
  • 122 18 Bernama THAILAND'S move to delineate its exclusive economic zone (EEZ) is aimed at providing a clear basis for negotiations with Malaysia over fishing problems in the Qulf of Thailand, the Thai Foreign Ministry said yesterday. The spokesman said the move was not expected to be a
    Bernama  -  122 words
  • 40 18 AFP PRESIDENT Ronald Reagan yeeterday nominated Major General William Burns as director of the US Arms Control and Disarmament Agency. Maj-Gen Burns. 55, currently deputy assistant aecretary of state for arms control, succeeds Kenneth Adelman. AFP
    AFP  -  40 words
  • 165 18 THE GOVERNMENT hu re-ap-pointed all nine member® of the Securities Industry Council for a period of two years effective Jan 1. Heading the council is Mr Chua Kim Yeow, who haa been re-appointed its chairman. Mr Chua ia chairman of the Poet Office Savings Bank.
    165 words
  • 279 18 AFP THE HONGKONG Association of Banks is unlikely to impose punitive chargea on large deposits of Hongkong dollars in the next two weeks, a source dose to the association said on Thursday. The British colony's interestrate cartel had adopted a wait-and-see
    AFP  -  279 words
  • 92 18 Reuter COMEX GOLD futures rallied to the plue column yeeterday on foreign buying after the US dollar coasted to the low side of the trading range. February gold gained US$l.OO at U*****.70 an ounce on a comeback from a low of U*****.60. Silver futures moved into
    Reuter  -  92 words
  • LATE FILE
    • 62 18 AFP JAPANESE Agriculture Minister Takaahi Sato indicated for the first time yeeterday that Japan would accept a General Agreement on Tariffs and Trade (Gatt) ruling on lifting agricultural import controls. "Japan must not defer (a solution) any longer and must not be isolated on
      AFP  -  62 words
    • 34 18 AFP AS MANY aa 72 political leaders and workers including the chief of the Muhajir Qeumi Movement (MOM), Altai Hussein, have been released in Karachi, prlaon sources said yeeterday. AFP
      AFP  -  34 words
    • 36 18 AFP THE Vietnameee-backed Cambodian regime haa shifted from a policy of fighting to negotiation sines It cannot defeat rsaistance guerillas, Premier Hun Sen hes reportedly told his cabinet in Phnom Penh. AFP
      AFP  -  36 words
    • 56 18 Reuter A FORMER legialator from Taiwan met Beijing officials in Hongkong and called the talks useful in narrowing the gap between the island and its arch-rival China. "It was useful to meet the other side," said Lei Yu-Chi, a former member of Taiwan's ruling Kuomintang
      Reuter  -  56 words
    • 30 18 Reuter SOUTH KOREA'S ruling and main opposition partiee yeeterday held their first talks since last month's precedential election, signalling a breakthrough in their previouely hoetile rolalionehip
      Reuter  -  30 words
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