The Business Times, 10 December 1988

Total Pages: 20
1 20 The Business Times
  • 12 1 BUSINESS TIMES MCI (P) 95/12/87 Weekend Edition, December 10-11 1988 75 CENTS
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  • 229 1 AP Dow Jones TRADING opened on a hesitant note yesterday with the Dow Jones Index of leading industrials up just 0.54 points at 2,142.25 five minutes after the opening bell. Trading was sluggish with 5.1 million shares having changed hands and declines barely outnumbering advances. AFP Footsie
    AP  -  229 words
  • 538 1  -  Building to undergo last phase of a $12m renovation programme By WILUAM CHIA THE TENANTS of all the shop units at Shaw Towers have been told by their landlord, Shaw Tower Realty, that they must vacate the premises by March. The building
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  • 475 1  -  By PAUL GOPAL A MAJOR WORLD agriculture trade war was averted in Montreal late on Thursday night (Canadian time) with a compromise to adjourn the mid-term review of the Uruguay Round of multilateral trade negotiations and to
    475 words
  • 462 1 A SEVEN-YEAR programme that will cost the government at least $98 million has been proposed by a committee looking into the state of the performing arts in Singapore. The committee, one of several reporting to the Advisory Council on Culture and the
    462 words
  • 309 1 AFP, Reuter JAPAN'S six-month-old Recruit Cosmos share scandal claimed its first major victim yesterday when Finance Minister Kiichi Miyazawa resigned to break a parliamentary deadlock on tax reform. The resignation was purely for political reasons and has little to do with the ethical questions raised by the scandal.
    AFP,; Reuter  -  309 words
  • Page 1 Advertisements
    • 178 1 The World's Finest Photographic System. tl I Jk fill m l I 4M "WW*! Jl BT on Saturday: 6 Romancing the office Fountain pens 6 Making a comeback Construction excellence 2 Meet the winners PPSC 2 Phillips, Sumitomo raise stakes Debt relief 3 Ma lila welcomes Gorbachev plan Asian coal
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    • 335 1 Niko The World'* Finest Photographic System. ir* M f f *Ar." msm r-.- .ifwer.n i T natm s-fPr fi H wmm m k II I 'V- V-> U >v 2*5 ?f -V 4 ~rf* i-' ,-W-Tl JWgj^ After the days of splendour Page 7 PsritH TpM Mary, Mary quite contrary
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  • HOME NEWS
    • 488 2  - Construction excellence the winners By LEE HAN SHIH, I, Property Correspondent JUDGING BY the results ot a government-sponsored contest, contractors generally provide better quality work when they are on public sector projects. This was seen by the fact that of the seven developments identified as this year's outstanding example of
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    • 280 2  -  By SHOEB KAGDA PHILLIPS PETROLEUM International Corporation (PPIC) and Sumitomo Chemicals Company have stepped up to buy out the government's 30 per cent share in Phillips Petroleum Singapore Chemicals (PPSC) (Private) Ltd. Oklohoma-based PPIC will increase its share in PPSC from 60 to
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    • 289 2  -  By LOH HUI YIN THE SINGAPORE petrochemical complex, which has just got Shell as a new shareholder, is moving into a new phase of development regional cooperation. Petrochemical Corporation of Singapore, which owns the core plant in the complex on Pulau Ayer Merbau, has started
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    • 95 2 THE LUNAR NEW YEAR will come early for readers of The New Paper and Shin Min Daily News. From Monday till Jan 28, both papers will carry HonQ Bao Daily Vouchers which can be used for three Blockbuster Special Draws and a Blockbuster Grand Draw with more
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    • 181 2 A CANADIAN ASSOCIATION of software companies yesterday signed an agreement for mutual cooperation with its Australian counterpart at the Informatics Show. It is hoping to tie up a similar arrangement with the Singapore Federation of the Computer Industry. Software British Columbia, which has a membership roll
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    • 303 2 FORMER Solicitor-General Francis Seow will be a no-show in court again today, says his lawyer V K Dube. Mr Dube yesterday said that Seow, who faces six charges of dodging income tax totalling $74,000, is still in New York seeking
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    • 455 2  -  By JEFFREY TSANG TWO LOCAL software houses have developed productivity tools for manufacturers. Both software packages run on low-cost personal computers. Primefield Co. which has been in the business of providing sales and training of computer hardware and software for eight years, has developed
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    • 1062 2 AT CONVENTIONAL WHARVES VMM* KEPPEL WHARVES ArrM Aries KM olongside II 12/2300 Fe Not K27 olongside 13.12/0600 G Hove* K35 olongside 13 12/0600 Gtorvot K33 olongside II 12/1200 Iver Stream K30 olongside II 12/1200 Jinsho K29 olongside 13.12/2300 Mmoto Cjtj ti.il— J'll "VWKJ K2I olongside ia>2/l200 K20
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  • Page 2 Advertisements
    • 91 2 BT, Singapore's largest daily, carries an in-depth and up-to-date coverage on the hanking and financial sectors, both local and overseas This indispensable page keeps all bankers, investors and traders informed on significant international events and contracts. The Money and Exchanges column included in this section contains daily reports on the
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  • Page 2 Miscellaneous
    • 153 2 vmmh Mln rc> 33/19 Fin* 08/02 Qoudy 16/12 Cloudy 22/17 Ont 31/21 Clear 29/21 Cloor 05/-4 Cloor 16/12 Sunny 06/00 Clear 05/03 Cloudy 20/11 Clear 07/02 Rain 29/23 Fin* 09/01 Cloudy 04/01 Cloudy 27/20 Rain 23/10 Cleor -5/-8 Cloudy 25/24 Rain 24/16 Rain 06/01 Cloudy 04/-2 Cloudy 31/25 Rain 11/08
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  • OVERSEAS
    • 406 3 FT INDONESIA IS SET to become a leading player in Asian coal markets after the deal announced on Wednesday with British Petroleum and CRA, the Australian minerals group, to start commercial production at the US$5OO million mine project in Kalimantan, Borneo.
      FT  -  406 words
    • 246 3 AFP MORE INDONESIAN officials should visit Australia and face the local press there to improve the often strained relations between the two countries, Australian Ambassador Bill Morrison sqid in Jakarta yesterday. "This is necessary. Indonesian leaders have not been going down to Australia
      AFP  -  246 words
    • 888 3 ARRIVALS Operator Sorvlc* Local From number tfano ACA AC888 0950 YYZ/IHR/ROM SU SQ103 0950 KUL CAL CJ806 1000 CGK CPX CX710 1000 CGK G4A GA960 1100 CGK SU SQ105 1105 KUL HA RM21 1130 RWN SU SQ201 1145 CGK GU GA940 1150 MES SU SQ191 1155 PEN
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    • 214 3 BernamaAntara THREE ASEAN countries, which are "one class" behind Singapore, Taiwan, Hongkong and South Korea, are currently involved in a race in the industrial field, a provincial trade official said in Medan, Indonesia, yesterday. The race would probably turn into a
      Bernama- Antara  -  214 words
    • 282 3 Reuter YASSER ARAFAT approved the Palestinian statement released in Stockholm on Wednesday but did not sign it because of his status as PLO chairman, PLO officials said on Thursday. They said the document, which said the Palestinian parliament accepted Israel's right to exist,
      Reuter  -  282 words
    • 213 3 AFP MALAYSIA'S first premier. Tunku Abdul Rahman, yesterday accused Prime Minister Mahathir Mohamad of abusing human rights and called for open discussion on the need for laws allowing detention without trial. The Tunku. 85. told a seminar organised by lawyers to launch a
      AFP  -  213 words
    • 241 3 Agencies JAILED South African antiapartheid activist Nelson Mandela and his wife, Winnie. were among six people honoured with awards by the General Assembly on Thursday for their contribution to promoting and protecting human rights The Assembly was marking the 40th anniversary of its adoption of
      Agencies  -  241 words
    • 487 3 AFP Reuter THE PHILIPPINE government yesterday lauded Soviet leader Mikhail Gorbachev's call for debt relief for the Third World. "I think the approach that he suggested, particularly in specific issues like the debt, is something that we certainly welcome because we ourselves have suggested such
      AFP; Reuter  -  487 words
    • 186 3 AFP CHIANG Hsiao-wu, son of the late president Chiang Ching-kuo. has said he does not intend to seek political power, and that he had never lived "in the shadows" as a member of the former First Family. The grandson of Generalissimo Chiang Kai-shek
      AFP  -  186 words
  • Page 3 Advertisements
    • 59 3 rI 1a AI If Ila The business persor s choice, every I I I II I T[jest,aA Thursday. Soturday'and 1 V 1 I I I M Sunday. Leaving Airport ait V y I Wy I JL 22 05 hours and ar-ivirg at Lester B Pearson International Airport the following day
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    • 47 3 m ?C" v t D mm -t •>:vC." **&}< 'f%W vVf Y j 3 -v k 1 /j|k 4 :■■<-.• 4,V-^. x Available at Boutique Nina Ricci Galeries Lafayette Nina Ricci Corners Metro Orchard. Metro Marina. Singapore Daimaru Midon Classic Selected Outlets Sole Distributor: Nina Ricci (Singapore) Re Ltd
      47 words
  • Page 3 Miscellaneous
    • 43 3 Doonesbury HOUiS !T FEEL 10 FEE? HER? Aeu, vou OUERERJ6HT. THIS SEEMS I TO BE CALM--1 INOHER M' 2 B BY GARRY TRUDEAU A COMMON URGE. BUT YOU HAVE ID FIGHT ...UKB DOING IT IN PUBLIC! UKB WHAT? I FEEL UK3...UKE... 7 m
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  • BANKING AND FINANCE
    • 735 4 Reuter FAILURE to set a clear signal against protectionism in world trade talks in Montreal this week could increase already strong pressure for a meeting of main industrial powers to reassess policy on the dollar, trade ministers said. Ministers were unable to
      Reuter  -  735 words
    • 391 4 Reuter THE FEDERAL RESERVE sold US$2.l4 billion in the currency markets to thwart the US dollar's rise in August and September, and then bought US$2OO million in October to limit its decline, the Federal Reserve Bank of New York said in a
      Reuter  -  391 words
    • 151 4 Reuter CANADA'S MAJOR BANKS have raised their prime lending rates by one-half point to 12.25 per cent after the nation's central bank raised the cost of borrowing funds. Royal Bank of Canada, a leading commercial bank, led the move on Thursday, raising the Canadian prime
      Reuter  -  151 words
    • 335 4  -  By LEONG WEN WAH IN A 810 to promote cashless shopping, NETS (Network for Electronic Transfers (Singapore) Re Ltd) is organising two lucky draws during the festive period. A NETS official told BT the aim is to increase the use and acceptance of NETS.
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    • 236 4 PAYMENT VOLUME of Visa credit cards climbed by 37 per cent in the Asia-Pacific region during the second quarter, bringing the year-to-date total to US$9.3 billion, according to Visa International. Payment volume on the credit card reached US$3.2 billion in the second
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    • 364 4 Bernama MALAYSIA will have to get its house in order first before she can take advantage of the Asean market, especially in the reinsurance industry, the deputy governor of Bank Negara, Datuk Or Lin See Yan has said. "We have to do
      Bernama  -  364 words
    • 145 4 Reuter BRITISH FINANCIER Peter Clowes was remanded on bail when he appeared on Thursday to face new charges related to the collapse of his Barlow Clowes investment group. Three of his business associates Peter Naylor, Christopher Newman and Guy von Cramer also faced joint theft
      Reuter  -  145 words
    • 162 4 Reuter A FORMER director of the New York Federal Reserve Bank was indicted on Thursday on charges of passing inside information about the setting of the US discount rate. Newark US Attorney Samuel Alite Jr said he believed it was the first time a person has
      Reuter  -  162 words
    • 172 4 Reuter BANKS and government export credit agencies have become less apprehensive about investing in Iran and Iraq as the Aug 20 ceasefire holds, experts on the region said in Geneva on Thursday. "There seems to be a greater willingness to take the
      Reuter  -  172 words
    • 57 4 THE OVERNIGHT rate on the Singapore money market rose 1/4 point to close at 5-1/4 per cent yesterday. Short term rates rose by 1/16 points each. S$ Interbank rates at the close yesterday: OfW MO S 1/4 5 I -month S 1/8 J 2-mortfti 3 3/16 S 1/16
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    • 337 4 HONGKONG: Gold closed slightly higher yesterday from New York levels in moderate trading with light buying by local and Japanese investors in the afternoon. Swiss selling in the morning was absorbed and buying later puahed gold back to the opening level. Bullion ended at U*****.20/70 an ounce, unchanged
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    • 480 4 Reuter EURODOLLAR futures closed mixed on moderately active two-way trade on Simex yesterday. Operators were hesitant to open large positions ahead of next Wedneeday's release of US October trade figures for clues to the state of the US economy. December Eurodollar ended easier at 90.63 below Chicago's 90.66 and
      Reuter  -  480 words
    • 118 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity MO OHW UGH LOW 3 HKHtlfa RQ*****H 09.03.89 3.75 3.70 3.72 3.64 6 months BY*****Z 23.03.89 3.89 3.88 3.88 3.79 1 year BY*****H 23.11.89 4.31 4.26 4.29 4.29 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing
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    • 188 4 inoiuivi in# ivfftQti Of th# prima tending rdN oI 12 ms|or banks In S'pors Interbank market rates (offer/bid) on Dec 9 7 doyt V mth 3 m*» 6 mi 12 us$ 11/16 9/16 9 9/16 7/16 9 3/8 1/4 9 3/4 1/4 7/14 J/16 1J 3/4 J/4
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  • Page 4 Advertisements
    • 335 4 SENTOSA THIRD SALE OF SITES Sentosa, Singapore's Discovery Island, invites participation from the private sector to develop exciting tourism projects on the island. The Schedule Parcel Location C West of Fountain Gardens, Sentosa E Ironside Road, Sentosa South of Fort Siloso, Sentosa Off Artillery Avenue, Sentosa Approx Site Area 72,654
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  • MONEY AND EXCHANGES
    • 226 5 ASIAN DOLLAR deposit rates closed little changed yesterday, with trading in the afternoon quiet due to a lack ol interest. The market is looking to next Wednesday s release of US October trade data. us$ OFFER MO 7 doyi 8 11/16 8 9/16 1 month 9 5/8
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    • 1451 5 CURRENCY FUTURES OPTIONS Friday, Dm 9 1988 0CUT8CHCMARK (SIMEX) Om M ea MM l» No Son DacSSpato 52 53 34 S3 M 37 58 59 40 61 42 1558 558 53 341 261 161 61 39 239 339 439 High Jan 89 caMa Low San Mgh Jan 88 puis
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    • 168 5 Gold futures on Dec 8 1988 tOO troy Qpon ounces. Mgfc USS par troy ou Lev KB Same 0« ***** 424.20 422.50 421.80 -1.00 Jon 89 424.50 •1.00 Fab ***** 429JO 426.60 426.70 -1.00 AP» 434.20 434.50 432.00 432.20 -1.00 Am 439JO 440.10 4X770 437JO -1.00 445.00
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    • 310 5 Reuter THE MIGHT of the Canadian dollar, while a product of foreign confidence in the economy, is taking a big bite out of corporate profits and may stunt Canada's growth next year, economists say. Hurting are a vast number of export oriented and
      Reuter  -  310 words
    • 299 5 IMM foreign currency futures ended sharply higher and near the top of session ranges on Thursday in a low-volume technical correction to the market's recent slide. Prices rose on shortcovering early as traders viewed the massive losses posted Tuesday and Wednesday as overdone. That sell-off was sparked by Soviet
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    • 717 5 SINGAPORE: Ahead of the coming weekend, the market was reluctant to take fresh positions and trading activities slowed down considerably yesterday The US dollar was kept in a tight range of D-marks 1.7360-1.7418, sterling 1.8478-1 8552, yen 122.*****.63, 551.9406-1.9425. Japanese Finance Minister Kiichi Miyazawa's resignation had little impact
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    • 229 5 Interbank rates at 3pm yesterday: fir III tin Mantnol ratM ■0 OfflK Local doNari to < ono wilt of foreign currency: US dollar 1.9405 1.9415 2.8196 •31.18 Stirling pound AustroBan doMor ***** 3.5985 7.3469 •51.07 1 -6802 1.6891 3.4286 •5042 NZ dollar 1.2487 1.2512 3.4286 -6348 Canadian dollar
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  • Page 5 Advertisements
    • 150 5 The changing shape There is a new lean look in the world of Japanese finance. Competition has helped many institutions cut back the fat and learn vital new skills. The challenge now is to keep fit enough to match the pace of further changes. The Japanese Hnance survey in this
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  • PERSPECTIVE
    • 481 6 THIRTY-SEVEN per cent of male Japanese office workers dream of having love affairs with younger colleagues, a survey of 500 of them recently reported, adding that most of these men were aged between 20 and 39. The survey did not say whether most of the dreaming was
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    • 1767 6  -  The fountain pen has long been a symbol of power woe to the politician who Is caught In public without one clipped to his breast pocket By CHUANG PECK MING OLD PRODUCTS have a habit of making a comeback in this modern age, when new things are
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    • 74 6  -  D W Distant Dttr Sir The PR Manager, MRTC, stated in letters printed in BT on July 2, 1968. in response to my earlier request for seats at MRT stations in the Orchard road area. that these would be installed by September 1988. It is already
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    • 257 6  -  Letters to the Editor R Mortis Dear Sir, The high standard of building and street lay-out in Singapore is quite rightly the envy of many world cities. But have our planners really designed a city for the 21st Century? Is it not just
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  • Page 6 Advertisements
    • 424 6 ADVERTISEMENT The business magazine people are talking about SINGAPORE siness FROM SINGAPORE WITH LOVE Local toy boys move into high-tech gear 1 T FAULTY DREAMS Does your dream house have cracks on the wall, or leaks in the ceiling? Is it smaller than what you bargained for? Do you live
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  • Page 6 Miscellaneous
    • 29 6 nTlptoW?ftanK Dirfcmfi TMC £bsr boy seems TO 6e. DO>MG veRY rtiCGL>/ TMese DAVS "0 r/rri) r.o^ ko —ne SR^DS ptost OF mS .IN Mis OFBCC >y~\ /^r\ t" 'f...
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  • Executive Lifestyle
    • 1336 7  -  NIRMAL GHOSH in New Delhi continues the series on the diminishing world of India's Maharajas exclusive to Executive Lifestyle NIRMAL GHOSH TODAY, His Highness Gaj Singh, the still youthful Maharaja of Jodhpur, must be a Maharaja again in public. He walks down the sweeping
      All pictures by NIRMAL GHOSH  -  1,336 words
    • 815 7  - Mary, Mary quite contrary V*- With MONICA GWEE IS IT A TREND? A fad? Or is it one of those taboos that flare up into a wound if you so much as scratch it with the tip of a finger nail? Perhaps it's just age. All I felt as I
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    • 267 7 THE PRESS and public relations officers do not always get along as well as they should. And so the Prees Section of the Information Division, Ministry of Communications and Information, thought it useful to produce a guidebook for government PROs. The book, Handling Media Relations, starts
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    • Executive Lifestyle: Entertainment & Pursuits
      • 796 8  -  HEALTH By RICHARD SEAH "STOP AT THREE" is a message that has been repeated many times. And we can expect to get more of it over the next few days. Three, in this case, refers to eggs. During National Heart Week, which starts
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      • 832 9  - Wine tasting the palate seldom lies By N K YONG WINE IS ABOUT TASTING, which includes smelling (or sniffing). And the only way to learn about wine is to taste it, and keep on tasting it. Reading and talking about it will give you the basic knowledge, but not how
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      • 1121 9  -  TRAVELOGUE By SANGEETA MULCHAND IT S USUALLY the children who come up with foolhardy schemes, not parents. But when Britons Roger and Karen Hullet broached their idea, it was their four children who went into shock. The Hullet seniors had sold their house, car, business, clothes,
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      • 519 9  - Concerto a clean, no-nonsense hot seller MOTORING By CHRISTOPHER TAN IF JAPANESE hi-tech gadgetry where function remains a poor second to aesthetics appeals to you, then the Honda Concerto may not be your ideal chariot. This car is virtually an antithesis to the general Japanese carmaker's thinking that the more
        Picture by CHRISTOPHER TAN  -  519 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 822 10  -  COLLECTING! With LINDA CHEE MY LOVE for all things old and quaint began with teakwood furniture, Straits-Chinese style. That was eight years ago. I was a newly-wed, and my husband and I had decided on an eclectic theme for our new home, perhaps more as
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      • 472 10  -  Hi (1 UOfrrfMlOO Oj Juanita Shakila CINEMA: Moonwalkar starring Michael Jackson. Showing at Savoy 2: 11; 1.30; 4; 7; 9.15. Capitol: 11; 1.45; 4; 6.30; 9.15, Woodlands: 1.30; 3.30; 7; 9. President: 1.30; 3.30; 7; 9. Who Framad Rogar Rabbit starring Bob Hoskins. Showing at Orchard: 11; 1.30; 4;
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      • 677 11 New York a few years ago at a Festival of India. He seems set to replace the social and cultural profile of the late Maharaja of Baroda, once one of the world's richest men. A highly successful industrialist, dedicated and prominent wildlife conservationist, gourmet cook, author
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      • 508 11  -  V2v X. Roger Loh SOUL SINGERS are notoriously extreme by nature. They are defensive about their style, they are easily intimidated by their peers, and they are quite unpredictable about their choice of material. There was a time when we could shake and grind
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      • 339 11  -  Bridge By Mike Thumba ALTHOUGH the Institution of Engineers Bridge team did harbour some of hope of defeating the SCBA "B" team in their last match at the finals of the League Series on Monday night at the Tanglin Club, there was
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    • Executive Lifestyle: Personal Investment
      • 449 13  -  Keeping trade... By ROSIE TAN STOCK AND BOND prices around the world are likely to face downward pressure in the near future, says prominent technical analyst Martin Pring in the December issue of Pring Market Review. Mr Prng says that on the surface.
        Source: Pring Market Review  -  449 words
      • 744 13  -  INSURANCE By FOO CHOY PENG TALES of elder children having to quit school or work part-time to support the family when something unforeseen happens to the breadwinner are not unheard of. True, these incidents may not be as common today as they
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      • 585 13  -  mm By LORETTA McLAUGHLAN SOMEBODY MUST HAVE known something the rest didn't know this week for the shares of Apollo Enterprises to soar from Monday's $1.07 to Friday's $1.31. For on the historic information that is available, the price take-off looks a bit steep. On paper,
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      • 295 13 ART TRADE Sotheby Research Dept ONCE AGAIN the main focus of attention centred on the Impressionist. Modern and Contemporary art sectors This week, it was London's turn to hold its major series of Autumn sales. Although these may sometimes appear to be somewhat overshadowed
        Sotheby Research Dept  -  295 words
      • 379 13 PROPERTY UPI FOREIGN INVESTORS are continuing to purchase large amounts of real estate in large US cities, but are generally proving to be the nation's more attentive and stable landlords, according to a researcher. A study of real estate purchases in
        UPI  -  379 words
      • 712 13  -  FINANCIAL PLANNING BEC/nnER'5/ comer m: ROSIE TAN THERE WAS A TIME when people would rather hoard their savings in cookie jars and under mattresses than trust the banks with their money. Not any more. Gone too are those days when people had to
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      • 336 13 HongkongBank THE FOLLOWING are different ways of calculating interest payments for loans and deposits: 1) Daily Balance This is the most common method used for calculating interest on overdrafts and company loans. The interest is computed based on the daily outstanding balance
        HongkongBank  -  336 words
      • 261 13  -  flm *1 ]l Ml ll 1 GOOLA WARDEN GOO LA WARDEN, an analyat with OUB Securities Pie Ltd DURING the post-October crash rally, Genting Bhd surged to a high of $5.80 on June 30 this year. Prices have been moving sideways or trading
        Source: OUB Securities  -  261 words
    • Executive Lifestyle: Sports
      • 633 14  -  MARATHON By WALTON MORAIS THE OVERWHELMING pre-race favourite is down with the flu. Most of the runners don't know each other. So all they're prepared to say is that anyone can win tomorrow's Singapore International Marathon, which begins and ends at the National Stadium. "There
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      • 459 14  -  t on ITMCk With JEROME FANDOR RACING RETURNS to Singapore for the penultimate meeting of the season. The trainers championship is wrapped up by Teh Choon Beng with 80 winners with eight race days to go, 21 ahead of Malcolm Thwaites. Terry Lucas
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      • 206 14 GOLF UPI JAPAN has taken a one-shot lead in the World Cup of Golf being played at Royal Melbourne's par 72 6,944 yard course. Japanese brothers, Jumbo and Jet Ozaki, are six under par after the first round of the ptroke-aggregate event, played
        UPI  -  206 words
      • 121 14 BOXING AP PINKLON THOMAS and Michael Dokes, two 30-year-old former heavyweight champions, are walking a tight rope of hope. A loss by either and his chance of another title shot will most likely be dead, although boxing has a way of resurrecting its old champions at
        AP  -  121 words
      • 287 14 TENNIS Reuter TEENAGE over-exuberance cost Spain dearly yesterday as it lost a tense quarter-final in the Federation Cup to the Soviet Union. The Soviet pair of Larissa Savchenko and Natalia Zvereva, one set down when rain stopped play in the decisive doubles on Thursday
        Reuter  -  287 words
  • Page 7 Advertisements
    • 164 7 COSS'OISSE L' RS F O K COLLECTOKS Wh en choosing your Dunhill Elite, let The Hour Glass enhance the occasion. V" >V > >, A a*. K t sA\ At Hie Hour Glass, ur see ourselves as connoisseurs. And our customers as fellow collectors. \ot only tat: ue show you
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  • Page 8 Advertisements
    • 881 8 Where to entertain. **>+ MJv x A- s*%i?t: zx. -,t", t\ L.s.. 2 Zx. Sunday Family Affair SET LUNCH 4 PERSONS AT $40.00+ Tom Yam Soup Spicy Seafood Combination Chicken on Hot Rate Theatre Noodles Thai Water Chestnut -4 PERSONS AT $90.00+ Braised Shark's Fin with Shredded Chicken Spicy Seafood
      881 words
    • 72 8 J* m am 4»-v i -.V -,4 The most popular buffet lunch renowned for its value-for-money <ivkAj n; Vi 13«ct rti -j 40 other new varieties! Superior specialities with menu change every fortnight! on| ysl4.so++ ch»dslo.so++ V m Mk.'l! > ••'OH Chtr,.*; 15T T\ I r 4 J O QOv#fnm«nft«M
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  • Page 9 Advertisements
    • 167 9 There's a cafe on a lush, green hi 11... where you can take a break. Meet friends Relax Make choices from the delightful international cuisine and Asian favourites. Prawn Mee, Nasi Goreng. Prawn Curry. Rahmschnitzel. Hainanese Chicken Rice. And much more. At Cafe in the Park A<S> Century Park Sheraton
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    • 104 9 Treasure Hunt Only One More The fever is rising in the Great Ballantine's Treasure Hunt. Last weekend, another Treasure Chest was found! And Treasure Hunters are closing in on the last Ballantine's Treasure Chest hidden at a secret location in Singapore. Find this last Treasure Chest full of Ballantine's Scotch
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  • Page 10 Advertisements
  • Page 10 Miscellaneous
    • 733 10 hskhkhdub saaasaM© 32 33 CRYPTIC PUZZLE ACROSS 9 Peevishness you laugh youself sick at? (3, 6) 10 After having a job (2. 7) 12 Finishes in a day and three quarters, about (4) 13 As a joke, says in French he's an authority (6) 14 Music that's not for a
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  • Page 11 Advertisements
    • 39 11 Rx --Jfmr TBRH i.% w. i &-/> K, V 'll' ■li -f.'-i-V' *T* in i fHRSEw 111 .l.l'IK I •m« in i i <» 1 Everything beauty and be both most supple ol ThcC individual pieces < si on «vi>\ir? IK li >«•
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  • Page 12 Miscellaneous
    • 1576 12 Japan, Panama Canal and heart attacks Burt Lancaster gives one of his finest performances as an aging all-style-no-substance hood in Atlantic City USA. This 1981 production focuses on a city in transition with small-time losers who have stayed too long and big-time dreamers who are just arriving. (Today. 10.30pm, Channel
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    • 1848 12 CINEMA Whipping Willow By JAIME LYE IT'S BEEN hailed as "The Empire Strikes Out". That Howard the Duck was a minor miscalculation in comparison. Poor George Lucas. He just wants to make fairy-tale movies. Won't anyone give the guy a break? Maybe someone should just tell him to grow up.
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  • COMMODITIES
    • 345 14 SINGAPORE: Rubber prices closed sharply higher yesterday with January 1 RSS buyer quoted at 218.00 cents a kg, up six cents from Thursday's close. Dealers said prices rose further in moderate afternoon trading on continued short covering spurred by gains on the Japanese rubber closing markets. On the TSR-20
      345 words
    • 79 14 (cwiti/lig) JANUARY 1988 FEBRUARY 1988 (currant month) (forward month) RAS NOON NOON Bvysn Sailon ftuy«ri SSI 30 196.00 198.00N 196.00 198.00N ss* SO 194.00 196.00N 194.00 196.00N MRELB twyari Ml<n Buyari SM* CV 308.50 31 0 SON 310 50 31 2.SON SMI I 304.00 306.00N 306.00 308.00N
      79 words
    • 168 14 LOWER offerings, coupled with further demand from Europe, Japan and local Interests, kept KLTM prices steady at Thursday's level of M 519.65 a kg yesterday. Dealers said miners were reluctant sell In anticipation of higher levels next week. Turnover dropped to 70 tonnes from 112 with no rationing
      168 words
    • 283 14 RAS prices In 8 cents/kg, FOB In be lei 1 NOON CLOSE Buyers Sellers Buyers Sellers int 1 RSS Prompt 2)0.50 211.50N 215.00 216.00N lot 1 RSS Jon 88 213.50 2 1 4,5 ON 218.00 219.00N Int 1 RSS Feb 215.50 21 6. SON 220.00 221.OON lot
      283 words
    • 112 14 SOYBEAN FUTURES closed with gains on short-cover-ing on the Chicago Board of Trade on Thursday. Prices finished up 5-1/2 to 1-1/2 cents a bushel with spot January up 5-1/2 cents at U557.73-1/2 a bushel. CBT soymeal futures ended off US$l.4O to up US$l.9O a ton with January
      112 words
    • 164 14 Telerate Trade for fuel oil remained thin in the Singapore market on stable-to-slightly soft prices with more cargoes seen inbound for Singapore from the Arab Gulf. Sell indications slipped lower to around US$75 per tonne fob/cif Sing for CST-180. Few serious buyers were to be found
      Telerate  -  164 words
    • 321 14 MALAYSIAN crudo palm oil prices closed marginally higher on light covering and speculative buying, yesterday. Oecember central region rose M 52.50 to M 5962.50 a tonne but south ended unchanged at M 5997.50. while January south was up M 52.50 at M 51,007.50. ROTTERDAM: Closing prtc*i on Doc
      321 words
    • 237 14 Chinese Produce Exchange Sollon' noon dosing prtco* on Doc 9 (SI/100 kg) Coconut oil Bt* FOB 113.00 Old drum FOB 123.00 N«w drum FOB 127.00 Copra Mixed (Ioom) 60 ielUn Pepper «"«W HUR wiHTV FOB NLW Sarawak whHi 730.00 FOB toq NLW 720.00 Sarawak lptdol black FOB NLW
      237 words
    • 267 14 London Commodity Exchange Buyer/Seller doting prices on Dec 8, (£/tonne unless specified). Previous closing prices in parenthesis. Coffee tosh In-itof# London, Milan option OF London Jan 1096/1097 (1102/1104) Htgh/Low 1109/1095 Mar 1095/1096 (1098/1101 High/Low 1110/1095 Sales (3687) Cocoa DK 832/833 (831/832) Htflh/Low 837/819 Mar 856/857 (857/858) High/Low 862/843
      267 words
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  • COMPANIES & STOCK MARKETS
    • 641 15  -  By ANDREA BORCH WHEN Japan's Nikkei index hit a record 30,050.82 points on Wednesday, it left all other markets in its trail. Following a 291.92-point drop on Thursday, the rocket-like index is expected to recharge and climb again. The same cannot be said for Singapore's
      641 words
    • 730 15 1! Ex dele Books ctoee ii Total tor fee year Total tor laat yeer A 1 S B I0%lb) Jon 6 Jan 20 Jan 31 '0% 5% AMDS l%lbl No* 24 Dec 8 Jon 9 Amal Steel 8%TEIb) Dec 1 Dec 15 Jan 30 «%TE 8%TE Amtek Eng
      730 words
    • 498 15  -  By LONG SHIH ROME PROPERTY developer Hong Fok Corporation Ltd is to submit a proposal to the Urban Redevelopment Authority (URA) to convert its stalled multi-million Concourse project along Beach Road in the next few weeks. Started at the height of the
      498 words
    • 551 15  -  2.75 new MMC shares offered for each Tronoh share By MAGDALENE NG MALAYSIA MINING Corporation Bhd (MMC) has made a general takeover offer for all the shares in Tronoh Mines Malaysia Bhd (Tronoh). a year after it dropped plans to sell its 30 per
      551 words
    • 624 15 MBT MALAYSIA AIRLINES is projected to turn in an annual steady earnings growth of between 10 per cent to 20 per cent for the next three years. The company's cargo capacity, with the purchase of four new aircraft, is estimated to rise by
      MBT  -  624 words
    • 134 15 NOTEHOLDERS of Mount Pleasure Holdings Berhad's 10 per cent convertible unsecured notes 1984/88 are advised by Commerce International Merchant Bankers Bhd to wait for the Capital Issues Committee's approval and the terms and conditions attached before they approve the company's proposed restructuring scheme. The CIC is expected to
      134 words
    • 278 15 FIRST Capital Corporations (FCC) minority shareholders are advised to accept the takeover offer by Oao Heng Holdings (DHH). But, they should reject the offer if they think that the long term prospects of FCC under the DHH group may be significantly
      278 words
    • 629 15 BONDS, LOANS WARRANTS Company Exp«ry/ maturity date Coupon <%> Conversion portod payable Conversion term tor one ordinary share CK Tang Wrti *****990 Chuon Hup Wrti 1991 City Dev Bonds 1994 5% Anytime to May 31, 1990 Anytime on or after Mar 1987 until Dec 31, 1991. Feb 1 Aug 1
      629 words
    • SES
      • 1084 16  -  by Jocelyn Toh INTEREST in the local stock market centred again on speculative issues and Malaysian secondliners yesterday. Dealers said that this is the most likely situation for the short term as investors are still concerned about the lack of direction in overseas
        1,084 words
      • 51 16 Company OTHERS Ind Oxygen Restricted oHer k* tale by Pegi Mm ol 54.179.750 ordmory shores ol SO ceeh eadt m O OHer Share! on Ike ban ol 1 OHer Shore for every 4 shores held at 65 cents per OHer Shors Ex dofe Dec 8 Books dose; Dec
        51 words
      • 315 16 Com pony RIGHTS ISSUE C 1 Holdings 27 million loan slocks in the ratio of S3 loon jlock for every five ordinary shares held 0 C Bonk One lor two Q J0 75 per share Duto Cons One-lor-one $1 10 per ihare FAC8 One for one $060 per
        315 words
      • 130 16 CI HOUMNGS Bertiad: 10th AGM at Equatorial Hotel, Raya Room, Mezzanine Floor, Jalan Sultan Ismail, ***** Kuala Lumpur today at 9.30 am. SEAL INCORPORATED Barhad: 26th AGM at Site No 30, Tasek Industrial Estate, Ipoh today at 11.30 am. SUNSHINE ALLIED INVESTMENTS Lid: 27th AGM at 481 Tanglin
        130 words
    • 5482 16 1 High 968 Low Tel Cod* Company Laet Sale +orDEC00 Vol ('000) Hlgt Day Low Laat Quote Buyer Seller Qr*a Dtv Dtv C'vr Gr*« rid Net P/E M Cap $mH SECTION ONE INDUSTRIAL COMMERCIAL 141 85 218 167 135 460 209 350 129 167 177 297 59*
      5,482 words
    • KLSE
      • 2095 17 NST SHARE PRICES on the Kuala Lumpur stock market finished higher yesterday in moderate trading. Dealers noted that most speculative stocks attracted strong attention while blue chips were ignored. Property and prop-erty-related stocks stole the limelight with most of them registering good gains. One dealer reckoned
        NST  -  2,095 words
    • REGIONAL MARKETS
      • 418 18 Tokyo to decide on pre-listing auction FT A JAPANESE Finance Ministry committee is due to decide next week on a proposal to introduce a compulsory auction for pricing companies going public, in what would be a wholesale reform of stock market rules. The move comes in
        FT  -  418 words
      • 375 18 AFP FRENCH GROUP Michelin ot Cie. the world's second biggest tyremaker, said it was strengthening its presence in Japan by forming a subsidiary with Japan's biggest condom-maker Okamoto Industries. Michelin Okamoto Sales Corp will be capitalised at 500 million yen (US$4 million), with Okamoto holding 51 per
        AFP  -  375 words
      • 114 18 AFP PHILIPPINE-MADE San Miguel beer is to be sold in Malaysia from this month, the brewery announced in Manila on Thursday. Spokesmen for the San Miguel Corp (SMC) said its flagship Pale Pilsen Brew is to be marketed in bottles and cans by Caldbecks,
        AFP  -  114 words
      • 171 18 AP A JAPANESE billionaire has been recommended for a conditional two-year gaming licence to operate the Dunes Hotel and Country Club in Las Vegas. In making the recommendation on Thursday, the state Gaming Control Board in Nevada turned down Masao Nangaku's request for an
        AP  -  171 words
      • 544 18 FT AN AUSTRALIAN entrepreneur has landed a long-term contract with the Romanian authorities, despite initial scepticism by many Australian officials. Lang Hancock, regarded as a hard-nosed businessman with little time for bureaucrats and politicians, arranged the deal after several years of patient negotiations with the Romanian
        FT  -  544 words
      • 535 18 Tokyo Reuter TOKYO share prices yesterday held in a narrow range all day in light trading to close mixed, brokers said. They said there were few incentives ahead of the weekend and after Wednesday's sharp rise on the back of futures expiration-related buying. "The fact that we
        Reuter  -  535 words
      • 438 18 Australia Reuter PRICES DROPPED in dull trading on the Australian share market yesterday after falls overseas and a stronger Australian dollar sparked institutional selling. "It's a quiet period and it's all very dull," one dealer said. Only a few situation stocks stirred some interest. Local institutions were
        Reuter  -  438 words
      • 1335 18 Hongkong Reuter AN ABSENCE of fresh factors snd Tokyo's declines combined to pressure the Hongkong market yesterday, which came off in featureless trade, brokers said. "It's been a typical dull Friday following a good week," said an American analyst. "Volume was unremarkable and there's been
        Reuter  -  1,335 words
      • 163 18 Reuter THE SECURITIES Exchange of Thailand Index fell 2.68 points to 387.82 yesterday on a turnover of 5,369,871 shares worth 450.87 million baht. DCC M BAHT Ao Kham Thai 314 -4 Ayudhya Invaatmant 36 -364 Bangkok Aground 100 -2 Bangkok dink 271 -2 Bank Of Ayudhya Charooog
        Reuter  -  163 words
      • 158 18 Reuter SHARE PRICES on the Bombay stock exchange closed mixed yesterday on the last day of the current two-week account period, brokers said. They said the market opened higher on active shortcovering and selective support from institutions and up-country buyers, after falling sharply in the past three
        Reuter  -  158 words
      • 95 18 Reuter SHARE PRICES continued to fall but other New Zealand markets were calmer yesterday after the latest round of friction between the country's two most powerful politicians. However, there was some market nervousness about a two-day Cabinet meeting on Dec 14 and 15 to review the economy.
        Reuter  -  95 words
      • 104 18 Reuter MANILA share prices closed higher in moderate trade yesterday to end a three-day decline after traders switched to buying from profit-taking after copper prices rose to a record high and boosted local sentiment, brokers said. "The general sentiment was bullish. Traders changed position and caused the
        Reuter  -  104 words
      • 380 18 Reuter TAIWANESE share prices swung wildly yesterday as conflicting rumours about a proposed bonus issue by three commercial banks sent investors scrambling to buy and then unload stocks, dealers said. The weighted index finished 148.44 points, or 2.3 per cent, lower at 6,241.26 compared with Thursday's 6,389.70
        Reuter  -  380 words
      • 177 18 Reuter SEOUL share prices continued to rise yesterday, with securities firms heading the gains on anticipation that they would make new rights and bonus issues early next week. "In general, all stocks performed well, a typical trait when the year comes to a close," said
        Reuter  -  177 words
    • WORLD MARKETS
      • 851 19 New York Reuter WITHOUT ANY fresh news to lend them momentum, Wall Street stocks on Thursday retreated from their recent gains amid light profit-taking in blue chip issues, brokers said. Equities lacked leadership from the credit and currency markets as well. "The market breadth has
        Reuter  -  851 words
      • 949 19 London Reuter LONDON SHARES opened mixed yesterday and then showed a slightly firmer bias although dealers said early trading volume was very thin and gains could prove short-lived. An overnight fall on Wall Street made for an early drift which was turned around by the opening.
        Reuter  -  949 words
      • 1537 19 Reuter FRANKFURT: West German shares closed firmer yesterday but off the day's highs in sporadic trade, partly driven by fairly brisk foreign demand for selected shares, dealers said. "Friday was a day of individual orders. Some of them found shares where there was very little supply," one
        Reuter  -  1,537 words
      • 369 19 FT NEW YORK'S commercial and investment banks are set to pick up a minimum of US$7OO million in fees from the takeover of RJR Nabisco, witti more than US$225 million going in the next few months to Drexel Burnham Lambert. the powerful Wall Street
        FT  -  369 words
      • 179 19 AP THE BRITISH High Court on Thursday temporarily blocked General Electric Co pic and Siemens AG from proceeding with their joint £1.7 billion (US$3.l billion) bid for the British electronics company Plessey Co pic. The court granted the injunction on the grounds that the
        AP  -  179 words
      • 379 19 FT THE UK Monopolies Commission inquiry into the £1.6 billion (U552.96 billion) takeover bid by Elders IXL, the Australian group, for Scottish and Newcastle Breweries has been widened to include an investigation of Elders' share purchases in Scottish and Newcastle over the past six
        FT  -  379 words
      • 516 19 UPI OVERSHADOWED BY the bidding war for RJR Nabisco Inc, Philip Morris Cos Inc quietly announced that it had completed its US$l2.6 billion acquisition of Kraft Inc, forming the world's largest consumer products company. With the sealing of the US$lO6-a-share deal, New
        UPI  -  516 words
      • 494 19 UPI A FEDERAL ADMINISTRATIVE judge hss found that the US Navy favoured International Business Mschines Corp in the competition for an upcoming contract worth an estimsted US$2OO million, the US government said. In s ruling that could change the government's computer
        UPI  -  494 words
  • Page 15 Advertisements
  • Page 15 Miscellaneous
    • 26 15 C. k/A/srZ 70 7M£ 0O&A& ru& 7& 7VfAS£IV £v/U?//V6 (r\ w A CffZAZV, 7%r r^^M^ro.. HJ by Martell AMP Of £/2£2£T//>lye72s* V. Aa'/? r&£~ \^mr EWc^J
      26 words



  • Page 18 Advertisements
    • 299 18 [<^,!@|~\-?[%+'^+!:`{||*]';)=!* IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF RTV ELECTRONICS S. E. ASIA PTE. LTD. (In Creditors' Voluntary Liquidation) NOTICE IS HEREBY GIVEN that pursuant to Section 308 of the Companies Act, Cap. 50. that the Final Meeting of the members and creditors
      299 words
    • 265 18 In the matter of The Companies Act, Cap 50 and MINFORD PTE LTD (In Members' Voluntary Liquidation) NOTICE IS HEREB\ GIVEN that a Final General Meeting of the abovenamed Company will be held on 10th day of January 1989 at 141 Market Street #08-01 Harapan Building, Singapore 0104 at 2.00
      265 words
    • 3 18 Technology every Tuesday
      3 words


  • 387 20  -  By TAN KEE WEE LOCAL AND FOREIGN developers are expected to invest some $200 million over the next three years to make Sentosa even more of a resort island. The Sentosa Development Corporation (SDC) yesterday launched its third and largest sale of
    387 words
  • 260 20 AP NATO foreign ministers yesterday said the enormous changes under way in the Soviet Union offer an "unprecedented opportunity" for improved international relations. "We will continue to seize every opportunity to cooperate in the search for political solutions to East-West differences," said
    AP  -  260 words
  • 345 20 Reuter PRESIDENT RONALD REAGAN said the world had been helped along the path ot peace by Soviet leader Mikhail Gorbachev's promise to cut his armed forces, but added that the US must maintain its military strength. We must remain resolute
    Reuter  -  345 words
  • 293 20 Bernama PRIME MINISTER Datuk Seri Dr Mahathir Mohamad wants Malaysian manufacturers to be self-reliant and not to clamour for government subsidies in order to succeed. He said that getting subsidies from the government need not necessarily benefit them because subsidised manufactured items would be
    Bernama  -  293 words
  • 130 20 Bernama THE JOHOR state government will soon submit to the federal government details on the compensation claims resulting from the dam and water catchment project for the supply of clean water to Singapore The project involves several areas, including forest reserves in the Kota Tinggi/Kluang/Mersing
    Bernama  -  130 words
  • 138 20 AFP PRESIDENT Corazon Aquino may seek re-election in 1992 if political leaders persuade her to do so and rivals stepped aside, her influential brother. Congressman Jose Cojuangco. said in Manila yesterday Mr Cojuangco told a foreign correspondents group that Mrs Aquino "was very decided on not
    AFP  -  138 words
  • 70 20 Reuter COMEX GOLD futures halved losses on scattered buying against a weak dollar after prices turned down early on technically-guided selling early yesterday. Spot gold held a net loss of US$l.lO at U*****.70 an ounce, coming out of a low of U*****.80 which penetrated technical sup- port at
    Reuter  -  70 words
  • LATE FILE
    • 35 20 AFP AN estimated 100,000 people were killed or were buried alive in Wednesday's powerful earthquake in northern Armenia. Soviet Health Minister Yevgeniy Chazov was quoted as saying yesterday. AFP
      AFP  -  35 words
    • 62 20 Bernama SINGAPORE Airlines will not be given landing rights in Kuching for now, Malaysian Transport Minister Dr Ling Liong Sik said yesterday in Kuala Lumpur. Malaysia Airlines. he said, will suffer losses if SIA flies to Sarawak. Dr Ling also announced additional MAS flights to
      Bernama  -  62 words
    • 58 20 AFP THAILAND wants to see Vietnam economically strong so as to carry out bilateral trade with Bangkok, a Thai Foreign Ministry spokesman said in Bangkok yesterday. "We want to see Vietnamese people have a good standard of living and attain greater buying power, because we
      AFP  -  58 words
    • 70 20 Reuter The US Navy is easing security measures in the Gulf, but is not ready to reduce the size of its task force in the region, the Nmw York Times reported yesterday. It quoted unidentified administration officials as saying that under new. relaxed guidelines,
      Reuter  -  70 words
    • 52 20 AFP TIBETANS appealed to Indian Prime Minister Rajiv Gandhi yesterday to raise the issue of Tibetan independence during his official visit to China later this month. Five Tibetans made the request in an open letter, which was smuggled out of Lhasa by a young
      AFP  -  52 words
  • Page 20 Advertisements
    • 55 20 >*"'. *&r* > s u> v .;•'<*<, </. "S; ■P?o'lst 4*»llPe' :.;&m V >1. I*3 l* 1% y V A #0J 5 t/()0 Wisma Atria. 4J5 Orchard Road Singapore (X) 23 Tel. ~j4936(). #02-12 Shaw Centre. I Scotts Road Singafxtre (t)22. Tel. 2J***** 6 CKRRUTIIBBI PARIS Sole Agent for Singapore,
      55 words
    • 215 20 The Comex silver report was not available at preaatime. v-v ># gWkWt* .v-' v'.rf ..<■■ v ,V? v. >,*;.. f---v *1 mzv* 4 -5- Y*.-4' ,a;>' ;*H2 "M| 1 S i g&vX3£?: > WE? assse m j- mm msm vA >,•:= »p iz 1 ii HE j n I it*m
      215 words