The Business Times, 4 June 1988
1988-06-04
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The Business Times
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Article259 1988-06-04 1 AP Dow Jones higher THE US stock market gained ground early yesterday, registering a favourable response to the latest data on employment. The Dow Jones Average rose 2.67 points to 2,055.12 in the first hour of trading. Gainers outnumbered losers by nearly two to one in theAP - 259 words
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Article138 1988-06-04 1 AFP, Reuter THE US jobless rate rose to 5.6 per cent in May from 5.4 per cent in April, the Labour Department announced yesterday. It was the first increase in 20 months, with the department reporting that 518,000 fewer Americans were at work than inAFP,; Reuter - 138 words
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511 1988-06-04 1 CATHARINE FERNANDO - Approval will be dream come true for three advertising bodies By CATHARINE FERNANDO AFTER more than 10 years in the planning, the advertising industry's dream of launching its own advertising institute may soon come true. All previous attempts at setting up the institute failed mainly511 words
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Article, Illustration231 1988-06-04 1 SHARE PRICES continued to climb on the Singapore stock market yesterday, making it the eighth consecutive day of gains. The 11.56-point decline on Wall Street on Thursday did not appear to dampen investor confidence as the Straits Times Industrial Index231 words
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Article197 1988-06-04 1 GOLD ROSE to a four-month high of US$466 an ounce during early trading in Europe yesterday, buoyed by inflation fears and a rally in the commodities market. Dealers said there were heavy purchases of the metal in New York on Thursday after its prices soared197 words
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227 1988-06-04 1 AFP THE HONGKONG government is investigating criminal allegations in connection with the colony's October stock market crash, a source close to the government said yesterday. The source said the allegations were made to the Attorney General's office by the govern-ment-appointed Securities Review Committee,AFP - 227 words
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443 1988-06-04 1 CORRINA LIM - F N and Metal Box PLC form joint venture By CORRINA LIM BEVERAGE group Fraser Neave Ltd has entered into a joint venture with Metal Box PLC one of the world's leading packaging companies to expand into the Asian-Pacific region. As part of this joint venture, the Metal Box group443 words
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250 1988-06-04 1 SHELL, which recently pumped $480 million into Singapore, yesterday dropped a broad hint of more investments to come. "As you know, we are currently building a Long Residue Catalytic Cracking Unit and. hopefully. I will be in a position to announce a few250 words
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Page 1 Advertisements
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Advertisement275 1988-06-04 1 Nikon T*» WorM'a Flm—i HtelognplHc Srsfmw Full report, Page 15, Regional Markets, Page 16, World Markets, Page 17 CHARTPOINT, Page 13 More reports, Page 4 INSIDE THE PLEAS BY THE SON of the Abalone King that he should receive a lighter sentence than his father because he had acted out275 words
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Advertisement203 1988-06-04 1 Nikon T1» NHorM'a rnrjr»#rrfr SyMaa CXCCutlv*. Lifjlltydc •r V* > A >V Now about that test... Page 7 Persoul Trivia Passion fruit gone sour Page 7 Chablis a fine, dry white wine Page 9 WMkMi TV TV programmes for today and tomorrow Page 10 Slats tt Watch Sequels and The203 words
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HOME NEWS
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435 1988-06-04 2 TONG SUIT CHEE - Company offers a subscription service By TONG SUIT CHEE A CONTRACTOR has come up with an innovative service which should be a boon to contractors and suppliers by allowing them to know the results of government tender results quickly. Subscribers to the Info O service435 words
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Article, Illustration454 1988-06-04 2 TOMORROW'S corporations will need people with a global perspective and will be managed by people drawn from a variety of national and cultural backgrounds, says a top headhunter. This means a change in the way most companies operate. Ip many American corporations today. an454 words
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230 1988-06-04 2 TEACHERS were urged yesterday by the Minister for the Environment to help in combating drug abuse in schools. Speaking at the Singapore Malay Teachers Union dinner-cum-charity evening, Dr Ahmad Mattar felt that since schools are an important front-line community in the drug230 words
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269 1988-06-04 2 TRADE PROTECTIONISM is beginning to wear a new mask the mask of human rights. Labour Minister Lee Yock Suan said at the International Labour Conference in Geneva yesterday. "There is a worrying trend among some countries to link international trade with the pre-con-ceived notions269 words
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Article, Illustration410 1988-06-04 2 TAN KEE WEE - By TAN KEE WEE A BRITISH designer and manufacturer of small electric motors. SM (Blantyre) Ltd, is looking for local joint venture opportunities or licensed manufacturing by a local manufacturer. Mr Jack M McKeand, managing director of SM (Blantyre) Ltd, said this410 words
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Article128 1988-06-04 2 THE MAXIMUM limit for cashless payments through the Network for Electronic Transfers (Nets) system has now been doubled to $2,000 daily. The move, which follows requests from retailers and cardholders to raise the limit, would make it more convenient for cardholders of the five participating banks to128 words
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Article164 1988-06-04 2 TOP INCENTIVE travel organisers will hit town next week to find out what attractions Singapore holds for high-yield incentive travellers. The Singapore Tourist Promotion Board (STPB) says they have been invited as part of its bid to boost the republic's image as an attractive incentive travel164 words
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Article140 1988-06-04 2 THE PRIMARY Production Department is to levy a fee of 50 cents for the inspection of each head of cattle from Monday. The new fee works out to about one cent per kilogramme of meat. But it will not affect retail prices as butchers are140 words
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Article1509 1988-06-04 2 AT CONVENTIONAL WHARVES VmmI Berth Arrival Departure KEPPEL WHARVES Alfesoni K20 alongside 0506/2300 Als Prosperity KI8 olongside 0506/0600 Boroness K34 alongside 06 06/0700 Equator K22 alongside 04 06*>700 Fronces Boy K27 alongside 04 06/1500 Frotasontos K15 alongside 04 06/0600 Huoyin K29 alongside 0606/2300 Inabufcwo K24E alongside 041,509 words
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Page 2 Advertisements
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Advertisement77 1988-06-04 2 SpeM<%* L KINTA'MANI -INDONESIAN RESTAURANTPrime grade, tender and juicy U.S. beef done in typical Indonesian style. Sirloin Betawi a savoury delight expertly grilled to perfection and topped with an exotic sauce. A definite favourite. Other beef specialities include Tenderloin Rendang Borobudur, Rib Eye Jajahan and Tenderloin Kintamani Special. U.S. Beef77 words
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Page 2 Miscellaneous
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Miscellaneous37 1988-06-04 2 wsm /y// m _V//// r Moscow Nossou New Delhi New York Nicosia Oslo Paris Perth Rio 'Janeiro Rome Son Fris'co Son Juan Santiago Sao Paulo Seoul Stockholm Sydney Taipei Tel Awiv Tokyo Toronto Vancouver Vienna Warsaw Washington37 words
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OVERSEAS
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350 1988-06-04 3 AP SET OF figures assembled by e Central Intelligence Agency ustrates how well Japan's onomy has performed in the iJOs, compared with the United ates and Western Europe. The figures show that Japan •tshone the others in dealing th unemployment, inflation, oduction and foreignAP - 350 words
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136 1988-06-04 3 AFP t HAILAND is to sell 500,000 ones of rice to India in Bangr biggest rice deal yet, a 1 >ai Commerce Ministry official iid yesterday. The value of the shipment has not been made public, but the English-language Bangkok Post saidAFP - 136 words
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174 1988-06-04 3 Reuter WEST GERMANY should launch a balanced programme of monetary and fiscal measures to boost domestic growth and help reduce global trade imbalances, a new study by the US Joint Economic Committee (JEC) of Congress said. Even with substantially faster growth and expanded imports,Reuter - 174 words
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284 1988-06-04 3 Reuter IN SPITE OF recent economic improvements, US competitiveness with other industrial nations has deteriorated dramatically over the past 15 years, a group of economists said in Washington on Thursday. "Future economic growth and competitiveness does not look better now than it looked severalReuter - 284 words
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Article109 1988-06-04 3 Reuter INVESTMENT by Britain's manufacturing. construction, distribution and some service industries is likely to rise by more than 12 per cent in 1988, a Department of Trade and Industry survey showed. The latest half yearly survey of investment intentions projects total investment of £24.96 billion inReuter - 109 words
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Article115 1988-06-04 3 Bernama-UNI ECONOMISTS and bankers participating in a seminar in Tokyo concluded that growth prospects of the Indian economy were very bright over the medium and long-term. The seminar, organised in Tokyo by the Indian Investment Centre as a follow up to Prime Minister Rajiv Gandhi'sBernama-UNI - 115 words
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Article998 1988-06-04 3 ARRIVALS Operator Sorvk* Local From number time SU SQU 0040 LAX/NRT MAS MH601 0140 KUL CAL 0333 0405 TPE SIA SQ41 0610 MAA MK MK/ 0730 MRU SQ746 SIA SQ23 0755 AMS/BOM MAS MH640 0820 KUL SV SV398 0835 JED/HUH KAL KE624 0840 KUL SIA SQ417 0845998 words
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Page 3 Advertisements
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Advertisement269 1988-06-04 3 -r A M FIRST/THIRD AVENUE < 1 1 ru rtt K. A. fN» r M w ft r Ss« 9 7 mtt J* 5* j < U <:■ «r 4 V*i <> 5' MIA ,v A T? I 3»f •sfcy H Bfe ■Ayjg&fy S* £> VICTORIA PARK m />V QUEEN269 words
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Advertisement62 1988-06-04 3 rI If \l J m Ifl If Th e business person's choice, every I I II 111 I Tuesd °y- Thursday. Saturday and I 1 F| \l II w Sunday. Leaving Changi Airport at JL W_yJL JL 22:05 hours and arriving at Lester B. Pearson International Airport the following day62 words
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MONEY AND EXCHANGES
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Article1126 1988-06-04 4 SINGAPORE: US dollar sentiment was mixed yesterday. It rose to around 126.20/30 yen from New York's 126 15/20 finish and to 1.7240/50 marks against 1.7205/15 marks. Sterling also firmed. to US$1.8055/65 from 1.8040/50 in New York. Against the mark, it firmed to 3.1132/59 marks against 3.1047 in the1,126 words
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Article81 1988-06-04 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BID OFFER HIGH LOW 3 months BQ*****F 01.09.88 3.87 3.82 3.85 3.82 6 months BY*****T 24.11.88 3.87 3.82 1 year BY*****Z 23.3.89 3.88 3.83 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code rate BIO81 words
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Article, Illustration188 1988-06-04 4 Indicates the ivtrag* of the prim* landing rata* of 12 major banks in S'pora Interbank market rates (offer/bid) on June 3 us* DM SWFC Y«fl 7 days 7 1/2 3/8 7 3/8 1/8 3 3/8 1/4 2 5/8 1/2 3 15/16 13/16 I mtfc 7 9/16 7/16188 words
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Article244 1988-06-04 4 Asian Reuter ASIAN DOLLAR deposit rates closed little changed at opening levels in quiet trading yesterday ahead of the release of US May employment data, dealers said. They said operators were waiting to see the US Federal Reserve's response to the job data, widely expected to show a rise ofReuter - 244 words
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Article48 1988-06-04 4 OVERNIGHT money rose %-point to close at 4!4 per cent yesterday. Term rates were unchanged. S$ Interbank rates at 12 noon yesterday: Off€* BID Ov»rnigh. 4 1/4 4 1 -monltt 4 3 7/8 2-month 4 1/16 3 15/16 3-month 4 1/8 4 Overnight mod®: 3 15/1648 words
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Article471 1988-06-04 4 EURODOLLAR futures yesterday opened lower against Thursday's close following losses in the Chicago session as a result of higher precious metal prices and the surge in the CRB index. The September contract settled 5 ticks lower at 91.78 Currency futures dipped initially from the opening level but recovered towards471 words
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Article256 1988-06-04 4 Reuter IM M currency futures closed mixed on Thursday. West German marks and Swiss francs garnered support from widespread unwinding of futures spreads and cash-market crosses against the yen and British pound. Profit-taking on the spreads pressured June sterling to sharp daily losses before the contract found a floorReuter - 256 words
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Article1604 1988-06-04 4 CURRENCY FUTURES OPTIONS Friday, Juna 3 1988 DEUTSCHEMARK (SIMEX) Jun M call* Jun M pu* 54 55 56 57 5« 59 60 61 62 63 I08B 158 HI0I 6A Jul 88 CM Lav 112 18 3 CAB CA8 CAB CAB Sal HWi 6A 92A I92A 298A 39SA 498A Jul1,604 words
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Page 4 Advertisements
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Advertisement156 1988-06-04 4 Welcome to the new comforts of home There are changes in the air at Hotel Equatorial Kuala Lumpur. Most fU/fr important is the total make-over in H our rooms and suites, now in a modem, contemporary style that's charmingly comfortable. A new refreshing look greets you at our lobby. Plush,156 words
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Advertisement9 1988-06-04 4 IB BANQUEINDOSUEZ 3 Shenton Way. Shenton House. Singapore 01069 words
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BANKING AND FINANCE
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534 1988-06-04 5 AFP BUSINESS on world financial markets seems set to continue at a relatively sustained pace in the months ahead despite currency tensions and uncertainties about interest rates, according to the Organisation for Economic Cooperation and Development. The international capital market is currently growing atAFP - 534 words
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170 1988-06-04 5 FT NORTH KOREA'S foreign commercial bank creditors are considering an unusual proposal for debt forgiveness which would write off more than two-thirds of foreign bank claims against the communist state. The proposal, presented to a meeting in London on Wednesday attendedFT - 170 words
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402 1988-06-04 5 DEXTER LEE - By DEXTER LEE THE SINGAPORE BRANCH of Hongkongßank yesterday launched a comprehensive personal banking product incorporating two credit cards with a current-cum-savings account. Under the scheme, called prime account, customers will be able to use the bank's two credit cards. Visa and Mastercard, to operate402 words
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316 1988-06-04 5 Reuter JUDGE CHARLES HAIGHT of the US District Court for the Southern District of New York issued an order on Thursday temporarily blocking Bank of New York Co Inc from buying shares of Irving Bank Corp. The court found disclosure deficiencies with regardReuter - 316 words
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Article175 1988-06-04 5 Gold futures on June 2 100 troy ounces USS per troy ounce Opi" High Low s««* Jvn 456.00 468JO 453X10 467 00 9.40 M 469.00 9.10 Aug 459.80 472.50 457.80 471.50 9.10 Oct 465.00 477JO 462.80 476J0 9.20 Ok 470.00 484.00 467.80 481.60 9.30 F.6 89 475.00175 words
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COMMODITIES
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Article394 1988-06-04 5 Reuter MALAYSIAN CRUDE PALM OIL FUTURES moved erratically on bouts of profit-taking and covering interest before closing slightly higher, dealers said. They said firmer overnight Chicago soyoil futures aided sentiment, but added trading was reduced ahead of the weekend August delivery closed Mss higher at $1,040 per tonneReuter - 394 words
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Article327 1988-06-04 5 HONGKONG: The metal closed lower on heavy profit-taking yesterday after its sharp rally in New York, dealers said. It ended an active day at US$463 00/50 an ounce against New York's close of $466 30/80 and Thursday's close here of $454 50/455.00 On the local market, gold closed327 words
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Article87 1988-06-04 5 PRICES DRIFTED aimlessly as traders were uncertain of the market direction and unwilling to commit themselves. Closing prices for crude (FOB origin) USS/barrel Oong* TopH (Mw) 16.97 -0.23 Minoi iJvna) 16.66 undi Dubai (My) 14.65 -0.07 W»*» Ttiai WTI (My)* 1 7j67 *0.03 Tort don previous day.87 words
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Article110 1988-06-04 5 CBT WHEAT futures closed with pared gains of 2-3/4 to 1/2 cents a bushel on Thursday. Spot July finished 2-3/4 cents higher at $3.50-1/2. Traders said gains receded on late profit-taking. Prices had earlier risen along with rallying soy and corn futures. Commercial hedge selling also curbed gains, they110 words
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Article105 1988-06-04 5 Reuter CBT SOYBEAN futures rallied sharply on Thursday to fresh four-year and contract highs across the board as prices closed up 18 to 133/4 cents a bushel. Spot July settled 17-1/4 cents higher at $8.19. Rising soymeal values on demand inspired by talk the USSR may have bought upReuter - 105 words
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Article304 1988-06-04 5 London Commodity Exchange Buyer/Seller dosing prices on Jim* 2 (£/tonne unless specified). Previous dosing prices in parenthesis. Coffee 8<»ii In-jtore London, tellers option CIF London Jul 1108/1110 (1072/1073) High/Low 1115/1067 Sep 1130/1121 (1083/1084) High/Low 1124/1074 Soles (3505) Cocoa Jul 926/928 (933/934) High/Lew 939/924 S*P 951/952 (952/953) High/Low 957/944304 words
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Article277 1988-06-04 5 Reuter SINGAPORE Prices recovered slightly yesterday after two straight days of sharp falls with July 1 RSS buyers price quoted at 290.00 cents/kilo, up five cents from Thursday's close, dealers said. Dealers said the Inro's offer of SMR 20 at a higher price of 270.00 Malaysian cents/kilo for JulyReuter - 277 words
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Article144 1988-06-04 5 Reuter THE Kuala Lumpur tin price rose nine cents to close at M 518.04 a kg, going above MslB rlnggit for the first time since March 1986, dealers said. Some local buying was also evident. Final turnover was 89 tonnes compared with 112 on Thursday, as miners continuedReuter - 144 words
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Article240 1988-06-04 5 Chinese Produce Exchange Sellers' noon closing prices on June 3 (SS/100 kg) Coconut oil Bulk FOB 110.00 Old drum FOB 120.00 New drum FOB 124.00 Copra Mixed (loose) 64 sellers Pepper AAurrtok white FOB NLW 1117.50 Sarawak white FOB faq NLW 1102.50 Sarawak special black FOB NLW 640.00240 words
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Article82 1988-06-04 5 (cents/kg) JULY 1988 AUGUST 1988 (current month) (forward month) RA8 NOON NOON B«y*s Sellers Buyers Sellers SSI 20 262.00 267.00N 262.00 267.00N SSff SO 260 90 265.00N 260.00 265.00N MRELB 9 Sellers Buyers Sellers -SMR CV 575 06- t 579.00N 577.00 581.OON SMR L 3535? 589 OON82 words
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Article274 1988-06-04 5 RAS prices in S cento/kg, FOB In bales NOON CLOSE Buyers Sellers Buyers Sellers Int 1 RSS Prompt 295.00 305.00N 288.00 298.00N Int 1 RSS July 88 297.00 302.00N 290.00 295.00 Int 1 RSS August 302.00 307.00 294.00 299.00 Int 2 RSS OP 292.00 296.00N 287.00 291.00N274 words
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Page 5 Miscellaneous
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Miscellaneous68 1988-06-04 5 Doonesbury ICAN7 UNDERSTAND WHAT HAPPBNBP 70 THE EARTHQUAKE. J THERE HAS TO BB SOME EXPLANATION! j fif i^JmZ I UJOULDNT BB A BTT SURPRfSBP... JHATS THB BEAUTY OF THB pseudo-sciences. since thby DON'T DEPBNP ON EMPIRICAL VBRJHCATION, ANYTHING CAN BB EXPLAINED! n BY GARRY TRUDEAU 1 KNOW! THERE WAS AN68 words
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PERSPECTIVE
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Article576 1988-06-04 6 WAS A remarkable plea. Ng Khway Tiat, son of •the Abalone King, argued that he was acting out of filial piety when he abetted his father and two others in a conspiracy to cheat 16 banks of nearly $57 million four years ago. Thus. Khway576 words
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Article, Illustration1634 1988-06-04 6 TAN KEE WEE - It is not only the retarded who have problems, brilliant people too have their own particular obstacles to overcome. For instance, they are easily bored in school and hate to be confined to one field. That, anyway, was the experience of1,634 words
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Article, Illustration1146 1988-06-04 6 TODAY: Tan Bah Chee. Ipm. Tangs forecourt. Magic show. More performances on June 15 and June 21. Free. Siva Choy and Friends. 3pm. Raffles City Atrium. Siva Choy. Singapore's veteran rock "n" roller. joins friends to relive the rock 'n' roll era with classics of the 1950s and *****.1,146 words
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Page 6 Advertisements
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Page 6 Miscellaneous
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Miscellaneous812 1988-06-04 6 mwmm mmwrn CRYPTIC PUZZLE ACROSS 9 What you'll get for tea if you're really good? (5, 4) 10 Making clear to one, with a hint (8) 12 Somebody big, yet light (4) 13 Having knocked many a drink back, is dangerous (6) 14 The old meter when repaired, is great812 words
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Executive Lifestyle
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Article345 1988-06-04 7 ANYBODY complaining about the bureaucracy of local banks should take a look at British banks. An elderly visitor from these sceptred isles said he was giving up applying for a bank card after his application form was returned because he forgot to fill in his mother's345 words
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Article, Illustration1138 1988-06-04 7 DAVID ROPER - Now about that festival in the sun... it may well be the most brilliant show on Earth By DAVID ROPER Arts festivals! who needs them? The years of planning, the months of build-up, the millions spent bringing people from one half of the world to the other. And the anguish1,138 words
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Article, Illustration619 1988-06-04 7 JOEL LEOW - T/iiviA-" With JOEL LEOW IT BEGINS with orgasmic lust and passion; it ends with orgiastic death. The final blow comes from the gun barrel in the hands of the wife; and in the stead of post-coital depression is a great relief the domestic felicity of the619 words
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Executive Lifestyle: Entertainment, the Arts & Pursuits
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Article, Illustration1036 1988-06-04 9 N YK - Chablis a fine, dry white wine "Wine By N YK CHABLIS, one of the best Known names in dry white wines, is still insufficiently appreciated as the fine wine it really is. Because the name itself is so well Known it has become almost synonymous with any dry white wine,1,036 words
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Article, Illustration867 1988-06-04 10 MONICA GWEE - Picking-up is not hard to do but watch it MEN By MONICA GWEE OH, THE SUBTLETIES of life. The more perfunctory among us must simply blunder through life, ignorant as we are about standard rituals in something as blatantly upfront as the pick-up. A few years ago, a story in867 words
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Executive Lifestyle: Entertainment, the Arts & Pursuits
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Article, Illustration346 1988-06-04 11 CLAIRE LEOW - By CLAIRE LEOW HI! THEATRE was really Flying High in their fringe act of the same title which ended on Wednesday. In the space x>f two hours, the mixed deaf and hearing audience was treated to more than good entertainment. Wit and charm346 words
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Article, Illustration361 1988-06-04 11 Jaime Lye - -by Jaime Lye CHARACTERISATION proved to be the downfall of Eleanor Wong's To Touch The Soul Of A God, a wishful look at idealism that ended up as a re-statement of a well-worn cliche. Tony Ho, a partner361 words
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Article, Illustration370 1988-06-04 11 SHOEB KAGDA - By SHOEB KAGDA BEING MIDDLE-AGED is no bed of roses especially if you are a woman with no means of escape. Laundry And Bourbon, performed at the Shell Theatrette on Thursday deals with the lives of two women who are best friends, and their individual crises370 words
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Article, Illustration386 1988-06-04 11 DANCE: Nu Wa: Mender of Heavens. Today through June 7. Bpm Victoria Theatre A dance-drama performed by the Practice Performing Art School, which combines various dance styles and techniques of both East and West to live contemporary music. Tickets at $15, $20 still available for today and tomorrow s386 words
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Article, Illustration539 1988-06-04 11 JAIME LYE - By JAIME LYE IT WAS LIKE a Lat cartoon come to life laid-back, not particularly refined, rough around the edges, yet wildly entertaining. And that's Malaysian life for you; or so it is according to Malaysian group Kami with their production, Caught In The539 words
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Executive Lifestyle: Sports
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Article, Illustration224 1988-06-04 12 TENNIS AP THIRD-SEEDED Mats Wilander, mixing elegant lobs with precise passing shots, outlasted Andre Agassi of the United States 4-6, 6-2, 7-5, 5-7, 6-0 yesterday in the French Open semifinals. Wilander, the only survivor from the top 10 seeds after a week ofAP - 224 words
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Article, Illustration522 1988-06-04 12 SHIRISH NADKARNI - BADMINTON From SHIRISH NADKARNI in Kuala Lumpur THERE WAS no stopping the inexorable march of the Chinese badminton machine. The girls from the world's most populous nation were simply too good for pretenders South Korea yesterday evening. They won the Über Cup.522 words
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622 1988-06-04 12 JEROME FANDOR - TMCK r J liliMt ICDHUC CAkinAD With JEROME FANDOR HE'S DAWAN was an exceptionally good winner of the first leg of the Rothman s International 100 Triple Crown last Sunday, and has earned himself the position of topweight and raging favourite for622 words
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438 1988-06-04 12 CHARLES SAVAGE - GOLF By CHARLES SAVAGE LIM KIAN KEE tied M Murugiah one below par at 70 to lead 61 professionals in the Tiger Open at the Sembawang Country Club yesterday Following close behind, within striking distance, was a flight of golfers. In good438 words
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188 1988-06-04 12 DAVID WONG of Ernst Whitnney scored 41 points to win the 13th Ocean Building Golf Tournament. The tournament, played on May 28 at Jurong Country Club, attracted 54 tenants of Ocean Building. Stamford Building and Keppel House. It was organised by Ocean Properties Pte188 words
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Article268 1988-06-04 12 Maike Thumba - Bridge Maike Thumba THE FIRST Far East Bridge Congress starting today has been upstaged by a re-cord-breaking bridge competition, the Epson Worldwide Bridge Contest. Involving about 100.000 players competing simultaneously in 2.500 cities around the world its jubilant French organisers exclaimed: "It's the greatest event of268 words
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Executive Lifestyle: Personal Investment
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731 1988-06-04 13 BULLION FT THE PRICE of gold bullion is either about to collapse, or to double. That, at any rate, is the helpful message coming from a flood of analysts' reports in recent weeks. A US study by the Wharton Econometric Forecasting Associates concludes bleakly thatFT - 731 words
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Article, Illustration405 1988-06-04 13 by RC ONE MONTH AGO, this columnist sounded a soft clarion call with the following line: "foreign investors, many of whom left the local market in a hurry after the crash last October, are slowly starting to rebuild their portfolios again". Each successive weekby RC; Source: Investamatic - 405 words
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503 1988-06-04 13 CORRINA LIM - BEOnnBTS t camen H By CORRINA LIM NOW THAT the local market is boiling over with activity again, picking the right shares to buy is important, but knowing when to sell, and in this case, when not to sell, is just as503 words
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Article, Illustration721 1988-06-04 13 RAMESH CHANDIRAMANI - CURRENCIES By RAMESH CHANDIRAMANI Special Correspondent MEMORIES of the dollar bear market remain fresh and vivid in the minds of forex dealers, most of whom made pots of money by betting that it is firmly locked in a downward spiral. This is why manySource: CSFB - 721 words
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Page 7 Advertisements
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Advertisement140 1988-06-04 7 -V r. ~^£-X W I xy f *5, VfP^'j J~*t~r*-V -i y yyL shtvG ,f rfr V>i 3» ;;12 >; -r<-r-f, < tn'tyf: XL-**' <i •v B^4:3s *i* <cw wsmsr f >^j /#>£«> -4rl t'r: gerald genta Singapore Showroom ond Service Centre Exclusively o» tingapoi* Kuolo lumpw Hong Kong Singapore140 words
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Page 8 Advertisements
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Advertisement232 1988-06-04 8 COURYOISIERXO WHEKC TD lAI.I KM Pick a winner at Royal Holiday Innauthentic Hongkong dianxin When you've tried our fine selection of dianxin delicacies, you'll agree that it is among the best outside of Hongkong, its land of origin. Prepared with fresh, quality ingredients, you can't expect less Available at Meisan232 words
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Advertisement107 1988-06-04 8 ROU GU CHA BREAKFAST at CAFE BOULEVARD 7am 11am daily St Sss.oo+ er person FISH VERMICELLI atDONDANG SAYANG Daily Lunch and Dinner 1, Tanglin Road Singapore 1024 Tel: *****33 Telex: MINGTEL RS ***** Telefax: *****42 SS7.oo++ per person A WMO OOUKT HOTEL BEST WEUft BU MSI E I V_ At107 words
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Advertisement261 1988-06-04 8 FILIPINA^ SPECIAL FILIPINO DISHES, SURPRISINGLY SPICY! June 1 —15,1988 only. Discover the entrancingly spicy dishes of Cebu among the Philippine specialities at Plum's daily lunch and dinner buffets. $20/Win! Return tickets via Philippine Airlines plus accomnnodations at plush Cebu Plaza Hotel and Hyatt Regency Manila. Plus many more attractive prizes,261 words
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Advertisement228 1988-06-04 8 SUNDAY FAMILY LUNCH o w ¥l 5 i S w k Bnng the family for a fabulous meal of fresh seafood and Chinese dishes from our a la cane menu. At a generous 25% off the bill. But only on Sundays between 11.30 am and 2.30pm. And for a limited228 words
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Advertisement220 1988-06-04 8 01 Si A Feast fit for the Queen Tack into the best of British cooking fron June 1 to 30. With Melton Mowbray pie. Fish 'n chips, Prawns in Whisky, Stev ed rabbit casserole, North sea cod fillet, Beef Wellington, English trifle and Oxford lardy cake. Over 60 British favourites220 words
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Page 9 Advertisements
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Advertisement269 1988-06-04 9 &.\(_([/<_/~+;,.(/*|,;_?,(@(\)' .4 4» V J JV Sunday Brunch: A great family outing It'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 salad269 words
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Advertisement264 1988-06-04 9 ONE GOOD REASON TO LUNCH AT THE PALM GRILL IS OUR APPETISER BUFFE T ANOTHER IS THE CHOICE OF MAIN COURSES. PALM |wf For between $26+ and $40+ I y° u can se ect fr° m our appetiser UKILL buffet including seafood, smoked salmon and oysters. Choose from many lavish264 words
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Advertisement12 1988-06-04 9 Whaft common between tiw Seoul Otympics& theGthmnes Inter-Business House AihleticsMeet in September12 words
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Page 9 Miscellaneous
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Miscellaneous1012 1988-06-04 9 Saturday BBC 88.9 mHz In VHF Band II SAM World News. 6.09 The World Today 6.25 A Letter from Northern Ireland 6.30 Financial News 6.40 Reflections. 6.45 Sports Roundup 7.00 World News 7.09 Commentary. 7.15 From the Weeklies. 7.30 Multitrack 3. 6.00 World News 6.09 News about Britain. 6.15 Radio1,012 words
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Page 10 Advertisements
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Advertisement251 1988-06-04 10 Do you have the stomach Most executives are very good about taking care of their investments. Of the financial kind that is. But when it comes to their health, they fall short. Let's face it. When was the last time you really took care of your body? I mean really251 words
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Page 10 Miscellaneous
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Miscellaneous1742 1988-06-04 10 SLOTS TO WATCH Sequels and The Seduction of Miss Leone Movies The hunter becomes the hunted in French Connection 11. After stumbling on a mammoth drug haul last Saturday in The French Connection, hard-nosed narco "Popeye" Doyle returns in the sequel this week in Marseilles, being hunted by the heroin1,742 words
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Page 11 Advertisements
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Advertisement7 1988-06-04 11 QUORUM PUIG Eau de Toilette for Men.7 words
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Page 12 Advertisements
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Advertisement110 1988-06-04 12 f GET DOWN TO RESORT WEAR AND WIN ATRIP* DOWN UNDER. '""l® WS v.• r a 5& -3^3 -%5-| Here's your chance to win a holiday to the Great Barrier Reef, Australia. For every $250 you spend at our Resortwear Shop, you will receive our lucky draw voucher. From 1110 words
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Page 13 Advertisements
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Advertisement171 1988-06-04 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, S'pore 0923. TAX EFFICIENT STRUCTURING OF IMVESTMEtfTS INTO INOU Touche Ross Management Consultants Pte Ltd is pleased to announce a seminar on 'Tax Efficient171 words
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Advertisement55 1988-06-04 13 SOTHEBY'S FOUNDED 1744 Indian, Himalayan South-East Asian Art 13th b 14th Jane 1)88 LONDON 1.. r i ir.v Pre-Angkor Buff Sandstone Male Torso Phnom Da, circa 7th Century Estimate: £20,000 25,000 For Enquiries Contact; SOTHEBY'S Singapore Branch 581 Orchard Road #02-15, Hilton Hotel, Singapore 0923. Telex: RS ***** HPPL Fan55 words
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COMPANY NEWS
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Article, Illustration475 1988-06-04 14 LISA LEE - Deal hinges on approval from creditor banks By LISA LEE UNITED Industrial Corporation Ltd (UIC) is set to make its second acquisition in Malaysia in an estimated Ms 67 million deal to buy the Oriental Hotel in Kuala Lumpur. The property475 words
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Article281 1988-06-04 14 Managers' prices Japan Gr Fund 1 58 1 63 for June 4 6 Stanton ThnH Fund 0825 0 825 Singapore Unit Trust UOB Management Untfund 0 89 089 The Commerce 096 1 02Unibond 1 005 103 The Sovings Fund 086 091 S pore Prog Fond S pore Sec281 words
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331 1988-06-04 14 DBS LAND will sell some properties to two different parties for a total profit of $2.8 million. This will bring its earnings per share to 1.8 cents this year, against 1.4 cents in 1987, but will not materially affect the331 words
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357 1988-06-04 14 MBT A NEW restructuring plan has been formulated for Malaysian Resources Corporation (MRC). details of which are expected to be announced shortly. In a statement to the Kuala Lumpur Stock Exchange. MRC said the proposed restructuring plan should significantly strengthen the group's financial position,MBT - 357 words
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452 1988-06-04 14 LONG SHIH ROME - By LONG SHIH ROME INDUSTRIAL OXYGEN Incorporated (101) is about to sign a joint-partnership agreement with a Japanese company, enabling the investment company to broaden the scope of its gas technology knowhow The new venture will involve a divestment of 30452 words
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295 1988-06-04 14 Sime holders asked to approve stake in Harrisons Crosfield MBT SIME DARBY'S independent directors and shareholders have been advised to vote for the company's proposed acquisition of 9.93 million shares or 7.4 per cent of Harrisons Crosfield PLC (H C)'s equity. This is to be met by the issue ofMBT - 295 words
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167 1988-06-04 14 THE Stock Exchange of Singapore has appointed Dr Philip Pillai as its second deputy chairman following the recent posting of its executive chairman. Mr Tan Chok Kian, to an overseas diplomatic position. This was announced after the SES committee approved the167 words
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Page 14 Advertisements
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Advertisement43 1988-06-04 14 4 Just as you depend on Business Times for a wealth of information, the animals at the zoo are banking on your generosity to keep them in the pink. To sponsor the bearded hog |s friends, call Roy Mackie of Times at *****19.43 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration5007 1988-06-04 15 BULLISH SENTIMENT in the local stock market pushed share prices higher yesterday but profit-taking in the afternoon pared earlier gains. The market opened weaker following an 11-point fall in Wall Street overnight, but the Straits Times Industrial Index rose steadily to a high of 1.026.555,007 words
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Page 15 Advertisements
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Advertisement13 1988-06-04 15 Unit Trusts table, Page 14; Business done on the SES, Page 16 1713 words
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REGIONAL MARKETS
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3842 1988-06-04 16 DABBLERS were in an indecisive mood yesterday as share prices fluctuated under bouts of buying and selling to close mixed to firmer on the Kuala Lumpur stock market. INDUSTRIALS Acmo H3O —I cd Ajinomoto I 2881 280 «d Alcorn 1743 —I 76 (II 783,842 words
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4853 1988-06-04 16 810 and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified All Time Settlement Contracts are4,853 words
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Article1485 1988-06-04 16 Hongkong HONGKONG share prices closed higher yesterday supported by active buying, mainly from local syndicates. brokers said. The Hang Seng Index rose 21.68 points to 2.568 35 after gaining a total ot 50 points over the previous two days. The broader based Hong Kong Index was 15.021,485 words
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Article132 1988-06-04 16 JUNE 03 WON 1Kal ***** 1000 Kangwon Ind Kia Motor ***** -500 ***** 800 Cheii Sugar Daeiim Ind Daewoo Corp ***** ***** ***** -700 -400 unch Kolon Ind Korea Long Term Lucky Ltd ***** ***** ***** 600 unch 800 Daewoo Heavy Daishin Securities Dong Ah Phar Dong Suh Slock132 words
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Article498 1988-06-04 16 Reuter TOKYO share prices closed lower yesterday in active trade as most institutions, concerned over Wall Street's direction, stuck to the sidelines, brokers said. "There's not much interest in main-line issues, but there is lots of interest in low-priced speculative stocks (among individuals)," said a broker. The Nikkei IndexReuter - 498 words
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Article439 1988-06-04 16 Reuter THE AUSTRALIAN share market yesterday shrugged off a sluggish early tone to close sharply higher. Brokers said the market's strength was largely in the resource sector following a jump of nearly US$lO in international gold bullion prices overnight. "The market's performance was unquestionably on the back of theReuter - 439 words
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Article163 1988-06-04 16 Reuter THE SECURITIES Exchange of Thailand Index rose 0.15 to 432.18 on a turnover of 7,752,410 shares worth 626.77 million baht. Reuter JUNE 03 BAMT 1Ao Kham Thai 364 18 Ayudhya Investment 396 •2 Bangkok Agro-lnd 131 •2 Bangkok Bank 327 unch Bank Of Ayudhya 344 *2 Charoong ThaiReuter - 163 words
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Article302 1988-06-04 16 JUNE 03 NT S Kolin 49 50 -0 2 Kuochan Dev 61 50 unch Lee Chang Yuen All Sincere Indus 555 -0 15 Chem Indus 65 50 -05 Asia Cement 86 50 -2 Lien Hwa Indus 69 00 -2 Cathay Cons 107 00 -3 Nan Ya Plas 81 00302 words
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Article104 1988-06-04 16 JUNE 03 PESOS Marsteei Oriental B 0 042 unch Acoje Mining Phil Overseas Anglo Phil 0 0095 -0 0015 Philax B Apen Mining B 0 042 0 00? P«;op B Atlas Con B 24 50 -2 plot Baguio Gold San Migu«l B Basic Petroleum 0 02 unch S«a*ront 0104 words
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Page 16 Advertisements
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Advertisement507 1988-06-04 16 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF JI-SING TRANSPORT PTE LTD NOTICE OF SPECIAL RESOLUTIONS FOR MEMBERS' VOLUNTARY WINDING-UP At an Extraordinary General Meeting of JISING TRANSPORT PTE LTD duly convened and held at 122 Bukit Batok Central #10-421, Singapore 2365 on507 words
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Advertisement155 1988-06-04 16 THE COMPANIES ACT, CAP. 50 JACKEL SERVICES FAR EAST PTE LTD (IN VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that the creditors of the abovenamed company which is being voluntarily wound up are required on or before the sth day of July 1988, to send in their names and addresses with155 words
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Advertisement162 1988-06-04 16 ADVERTISEMENT THE COMPANIES ACT, CAP. 50 BEARCAT EQUIPMENT (PTE) LTD (In members' Voluntary Liquidation) FINAL MEETING NOTICE IS HEREBY GIVEN that in pursuance of Section 308 of the Companies Act. Cap. 50 the Final Meeting of the Members of the abovenamed Company will be held at 140 Cecil Street. #16-03162 words
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WORLD MARKETS
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Article1010 1988-06-04 17 New York Reuter WALL STREET stocks declined on Thursday as investors cashed in a portion of their profits from the previous two day's 108-point rally. Concern that May job data due to be out yesterday will show swelling employment ranks and prompt a boost inReuter - 1,010 words
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Article1068 1988-06-04 17 London Reuter LONDON shares were firmer after a dull start yesterday, as fresh action on the bid front emerged in the form of a British Gas agreed £370 million offer for Acre Oil and a Glynwed agreed £102 million offer for Amari. Dealers said theReuter - 1,068 words
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Article1103 1988-06-04 17 Selected indices HONGKONG Hongkong Index Friday 1.700 02 Thursday 1.***** Week ago 1 ***** Hang Seng Index Friday 2.568 35 Thursday 2.546 67 Week ago 2.513 70 All Industrials Friday 2.504 4 Thursday 2,5010 Week ogo 2459 7 NEW YORK Dow Jones Thursday 2.052 45 Wednesday 2.064 01 Week ogo1,103 words
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177 1988-06-04 17 Reuter THE Securities and Exchange Commission (SEC) on Thursday accused Mr Roberto Polo, a prominent international money manager, with violating securities laws by failing to keep and maintain books and records of his firm. Mr Polo, who has disappeared. was charged by his clientsReuter - 177 words
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Article20 1988-06-04 17 OVERSEA-CHINESE BAMKMQ CORPORATION Limited: 51st AGM at 65 Chulia Street #19-00, OCBC Centre, Singapore 0104 today at noon.20 words
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Page 17 Advertisements
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Advertisement169 1988-06-04 17 1 TiTT^s If you are not in the league that allowß you to sponsor animals at the Zoo, perhaps it's because you are not a regular BT reader. Successful executives know the value of keeping abreast of what is happening in the complex world of business. That's why they subscribe169 words
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557 1988-06-04 18 ANNA TEO - Asean-Japan trade stages rebound By ANNA TEO SINGAPORE showed the highest growth in exports to Japan among the Asean countries last year, when it shipped more than US$2 billion worth of products. The Republic, long the top Asean importer of Japanese goods, also continued557 words
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92 1988-06-04 18 AFP US PRESIDENT Ronald Reagan briefed Japanese Prime Minister Noburu Takeshita on the US-So-viet summit during a half-hour meeting at the US Ambassador s residence in London yesterday. Mr Takeshita had said he wanted to meet Mr Reagan before starting a European tour focusing onAFP - 92 words
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324 1988-06-04 18 Reuter US-JAPAN industry talks on improved American access to Japan's microchip market collapsed in anger and frustration, with a US delegate accusing Japan of abrogating a 1986 bilateral trade pact. Plans for a joint statement yesterday by the US Semiconductor Industry Association and theReuter - 324 words
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Article114 1988-06-04 18 Reuter SOVIET First Deputy Prime Minister Yuri Maslyukov arrived in Beijing for trade talks yesterday, the highest ranking Soviet official to visit China for almost two years. The official New China News Agency said Mr Maslyukov, who is head of the Soviet state planning committee Gosplan,Reuter - 114 words
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Article113 1988-06-04 18 MR GOH KIM LEONG, permanent secretary (information) of the Ministry of Communications and Information, will replace Mr Cheng Tong Fatt as the deputy chairman of the Singapore Broadcasting Corporation from June 25. The appointment, until January 31 1990, was announced in the government113 words
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318 1988-06-04 18 NYT CARL ICAHN told more than 300 analysts and Texaco shareholders on Thursday that he could easily raise the U5514.22 billion needed for his ambitious. US$6O-a-share proposal to take over the third largest oil company in the US. However, analysts in theNYT - 318 words
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113 1988-06-04 18 AFP THE SWISS food group Nestle should sweeten its bid to buy Britain's confectioner Rowntree to 1,050p or I,loop a share within a few days, against the current offer of 890, some London analysts said on Thursday. They said rival Swiss group Jacobs Suchard.AFP - 113 words
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127 1988-06-04 18 Reuter ROYAL Dutch/Shell group, one of the world's biggest oil multinationals, denied on Thursday it was considering making a friendly bid for US rival Texaco Inc. Rumours that Texaco had approached the An-glo-Dutch giant as a White Knight' to counter an unfriendly bid from USReuter - 127 words
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Article93 1988-06-04 18 NYT THE Bear Stearns Co has reported a 29.1 per cent increase in earnings for the fourth fiscal quarter. However, the firm's profits for the year dropped by 17.9 per cent, hurt by last October's stock market collapse and higher expenses Bear Stearns said itNYT - 93 words
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178 1988-06-04 18 AFP TOP foreign ministry officials of non-communist South-east Asian countries closed a two-day meeting on Vietnamese refugees and Cambodia in Bangkok yesterday, a Thai Foreign Ministry official said. Asean officials, including permanent secretaries and general secretaries for political affairs, are to report toAFP - 178 words
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111 1988-06-04 18 Reuter ARMED Forces chief General Try Sutrisno warned the Indonesian press yesterday not to stir up divisive issues. "The people need the sort of information that can be useful for national development, and not destructive news," General Sutrisno said in anReuter - 111 words
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385 1988-06-04 18 NST, AP. Bernama THE MALAYSIAN government yesterday released seven people, including vice-chairman Tan Seng Giaw and Central Working Committee member V David of the opposition Democratic Action Party (DAP), who were detained under the Internal Security Act since last October. The seven wereNST,; AP.; Bernama - 385 words
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137 1988-06-04 18 Bernama TUN MOHAMED Salleh Abas who has been suspended as Lord President wants judges whose ranks are equal to him to sit in the tribunal to be set up to hear charges against him. He said inBernama - 137 words
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Article100 1988-06-04 18 Reuter COMEX GOLD FUTURES held losses in thin midsession dealings yesterday, as the market ignored the snap recovery in CBT soybeans. August gold was off $3.10 at $459.30 an ounce, standing almost in the middle of the day's range of $460.20 to $457.80. Comex silver futuresReuter - 100 words
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LATE FILE
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Article47 1988-06-04 18 Reuter THE South Korean government offered North Korea high-level talks, dropping Seoul's earlier demand that Pyongyang first apologise for the bombing of an airliner. In a message broadcast to the North yesterday, Prime Minister Lee Hyun-Je suggested talks at Cabinet minister level. ReuterReuter - 47 words
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Article36 1988-06-04 18 AFP JAPAN'S trade surplus shrank 4.5 per cent in April from a year earlier to US$B.4B billion, the 10th monthly decline on a year-to-year basis, the Japanese Finance Ministry said yesterday. AFPAFP - 36 words
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Article49 1988-06-04 18 UPI PHILIPPINE President Corazon Aquino yesterday opened a three-day conference on newly restored democracies in Manila. Conference chairman Foreign Secretary Raul Manglapus told delegates from 13 countries that the debt problem and threats from right-wing and left-wing forces are expected to dominate the discussions. UPIUPI - 49 words
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40 1988-06-04 18 AFP THE Indian government will start demolishing buildings around the Golden Temple in Amritsar next week as part of an effort to prevent another occupation by militants, the Press Trust of India said yesterday, AFPAFP - 40 words
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Article55 1988-06-04 18 Bernama THE European Community Commission has identified 24 projects with the potential to be promoted under the Asean Industrial Joint Venture scheme. The Malaysian Industrial Development Authority yesterday said among the projects identified are soft rubber products, toys, processed food and vegetables, wicker furniture (rattan),Bernama - 55 words
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Page 18 Advertisements
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Advertisement148 1988-06-04 18 We leave the business to you. Leave the sleep to us. You re nv*ed to come aqp he or cm? watertoeds kx up lo 10 hours *> olt prvafe rooms and experience the Offerer*ce tor yoorseff r r PRINCE WILLEM-ALEXANDER COLLEGE DENEKAMP HOLLAND SCHOLARSHIPS AWARns Prince Wlllem-Alexander College Is an148 words
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Advertisement135 1988-06-04 18 a Meticulous attention to details make St Michael's business shirts really exceptional. Incorporated in the range are special tailoring features usually associated with luxury shirts. Like having an additional buttonhole on the cuff—just right for use with cuff links. A softer, two-piece collar gives greater comfort and fit. The collar135 words
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