The Business Times, 14 January 1989

Total Pages: 20
1 20 The Business Times
  • 12 1 BUSINESS TIMES MCI (P) 45/12/88 Weekend Edition, January 14-15 1989 75 CENTS
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  • 238 1 Dow down WALL STREET blue chips faltered after managing a mild early gain yesterday, but gaining issues in the broader market continued to hold a small lead over decliners. The Dow fell one to 2221. Gainers led losers five to three. Reuter Footsie up LONDON share prices
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  • 295 1 AFP MALAYSIAN Prime Minister Datuk Seri Dr Mahathir Mohamad's New United Malays National Organisation yesterday accepted a peace plan aimed at healing a rift with dissidents in Johor. Dr Mahathir told a news conference after a meeting of New Umno's supreme council in Kuala
    AFP  -  295 words
  • 337 1 BULLISH sentiments prevailed in most regional markets which closed higher to end the week on a firm note. In Singapore, profit-taking in the morning was absorbed by renewed buying interest in the afternoon. Attention was focussed on speculative and lower priced stocks. The
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  • 493 1  -  By AMY BALAN RIDING on the current rally in the stock market, the OverseaChinese Banking Corporation is proposing to raise $200 million through equity-linked negotiable certificates of deposit (NCDs) in the first instrument of its kind to be offered in Singapore. The five-year
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  • 470 1  -  Invitation letters sent to selected investors By LEE HAN SHIH SINGAPORE AIRLINES (SIA) has lined up the OBS Bank to help look for partners in developing hotels in Singapore. A letter, bearing OBS's letterhead, was prepared by the bank and sent out by
    470 words
  • 433 1 A KEY APPOINTMENT by DBS Land has led observers to believe the property company will soon set up its own hotel management chain. Public-listed DBS Land said in a short statement on Thursday that Mr Richard Charles Heifer would join Property Management
    433 words
  • Page 1 Advertisements
    • 198 1 Nikon Ths World's Finest Photographic System. Full report, PAQE 8 Regional markets, PAQE 7 Chang! Airport Chinese banks Air passengers and cargo at Beijing to tighten control on record levels money Economic growth 2 Philippine National Bank MTI sets a growth rate of 6pc Sale of shares in July US
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    • 203 1 Ths World's Finest Photographic System #i System. Susha fishy story Page 11 To myRRh is human: an apology Page 11 Whither the bloom of the art film? Page 13 TV programmes for today and tomorrow Page 16 A hot year ahead on court Page 17 Currencies: the pick of the
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  • HOME NEWS
    • 493 2  -  ADDENDA TO PRESIDENTIAL ADDRESS By ZHOU MEI THE MINISTRY of Trade and Industry (MTI) has targeted an annual economic growth rate of 6 per cent over the next five years, a rate at the upper end of the
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    • 529 2 ABOLITION of waste is a must in the public sector. Recurrent public sector expenditure must not grow faster than the groea domestic product (OOP), said a Ministry of Finance addendum to the President's address delivered on January 9. 1969 at the opening of the
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    • 508 2  -  Last year's growth rates at Changi Airport the highest ever By TAN KEE WEE RECORDS tumbled like nine pins at Changi Airport last year. Not only did the number of passengers and the volume of cargo handled reach record levels, the double-digit growth rates
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    • 233 2 A GROUP of 34 Japanese buyers will arrive in Singapore on Tuesday to meet local manufacturers and traders. The buying mission is interested in products such as processed foods (cuttlefish ball, sauces, spices, snacks, curries and biscuits); apparel (fashion, casual and sportswear); Jewellery and gems; and
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    • 162 2 MORE THAN 1,100 delegates are in town for the Asean Tourism Forum (ATF) 1960. which will officially begin tomorrow evening. Billed as one of the most important regional travel trade events this year, the ATF's theme this year is "Asean Tourism A Winning Combination".
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  • 1051 2 AT CONVENTIONAL WHARVES Vmil Berth Arrival Dtpartur* KEPPEL WHARVES A<*o Adkoio K20 otonguda '*****600 lomgtor Doot CD ofc>«g>.da 17 01 ,<3700 Con furono KI4 ofcmpida 1401/1400 Con*nan» 1 C30 o4ong»da ISOIAfcOO baton G4 KI8 otongnda 1401/12® G Odynay K36 oiongada I50I/IS00 Huang long K28 aionguda 1501/0*00 KoM
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  • Page 2 Advertisements
    • 44 2 unni THE SALE OF THE SEASON NOW ON s Trousers Shirts Belts I ics and other fine Dunhill Merchandise Hilton International Motel C entrepoint Metro (irand 1 uck\ Pla/a Daimaru I iang Court Isetan (Havelock •New Isetan Orchard Wisma Atria fangs lokyu {Marina Square
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  • Page 2 Miscellaneous
    • 47 2 //S^ "Sf/ Jakarta Jorusaiom Jo'bwrg Ktev K Lumpur Lima Lisbon London Los Angolas Mdbounw MoxJco Qty Now DoN Now York Nicosia Oslo Paris Porth Rio 'Janoiro Romo Son Fris'co San Juan Santiago Sao Pauto Sooui Stockholm Sydnoy Toipol Tokyo Toronto Vancouver Vlonna Warsaw VA/J uKi»i_i itjT-ii ▼vainin^TOfi
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  • OVERSEAS
    • 263 3 Reuter JAPAN is seeking closer trade ties with the European Community (EC) to create an "equilateral triangle" with the US as the third partner. Foreign Minister Sosuke Uno said on Thursday: "Prime Minister (Noboru) Takeshita has been endeavouring to establish a closer relationship
      Reuter  -  263 words
    • 894 3 ARRIVALS Operator S#rvk« Local From number tim* MAS MH651 0910 PEN MAS MH630 0920 KUL ACA AC888 0950 YYZ/LHB/80M S1A SQ103 0950 KUL CAL C1806 1000 CGK CPX CX710 1000 CGK GiA GA960 1100 CGK SIA SQ105 1105 KUL l»A BI421 1130 BWN SIA SO 201 1145
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    • 222 3 UPI ECONOMIC GROWTH in the 12-nation European Community in 1988 was fanned mainly by investments, up by just over 7 per cent last year. An Executive Commission report, based on data available to the Commission last autumn, on Thursday estimated 1988 growth of the
      UPI  -  222 words
    • 443 3 NYT US PRESIDENT-ELECT George Bush has completed the selection of his Cabinet and challenged its designated members to think big about the budget deficit, the narcotics crisis and other issues. Mr Bush met his Cabinet in Washington on Thursday hours after filling the
      NYT  -  443 words
    • 126 3 AFP A CHINESE MONOPOLY which supplies staff to foreign businessmen in Beijing has backed down on its plan to bill services in dollars instead of the local currency. Sources in Beijing said on Thursday that the proposal by Foreign Enterprise Service
      AFP  -  126 words
    • 503 3 Reuter A HEALTHY US economy is continuing to suck in large amounts of foreign goods and some economists said imports may even have reached record levels in November. US November trade figures are due on Wednesday morning. Economists believe exports rose from October, but
      Reuter  -  503 words
    • 122 3 Bernama MORE THAN 30 per cent of bumiputra businesses may go bust without assistance from the Entrepreneurs Rehabilitation Fund. Malaysian Malay Chamber of Commerce and Industry (MMCCI) president Senator Or Nawawi Mat Awin said on Thursday that although the nation aspired to achieve
      Bernama  -  122 words
    • 303 3 Bernama BUMIPUTRA entrepreneurs were reminded that their bumiputra status could not be used as the key to "everything" despite the government's aspirations for their progress. Trade and Industry Minister Datin Paduka Rafidah Aziz said on Thursday that they should not be
      Bernama  -  303 words
  • Page 3 Advertisements
    • 57 3 'I Y ljm If I The business person's choice, every II 111 1 Tuesday, Thursday, Saturday'and i MM mI \J I I m Sunday. Leaving Chongi Airport at J. X_L 1 X 22 05 hours and arriving at Lester B Reatson Internotionol Airport the following day Call your Travel Aqent
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    • 30 3 II |T~ 1 -ii V.' •;:k IV :r •srtSSR.:. jnimo* mm WBe*in r" i i *A/:! A il PARIS NEW YORK TOKYO Lancel Boutique: 435 Orchard Road, #02-28/31 Wisma Atria.
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  • Page 3 Miscellaneous
    • 84 3 Doonesbury He-U.,THMSrT,dABY POE' YOUCANCARRy ON ALL YOU WANT, BUT I HO MORS TUBS FOP, TOPAY' ':s&r O^'l X 9HI THERE SMORETO UFE THAN 6ERALPO ANP OPRAH ANP SALLY ANP PHIL ANP MORJON ANP GARY ANP RE6IS anp pee-wee' swp BY GARRY TRUDEAU INCREDIBLE AS IT SOUNPS, THERE'S A WHOLE WORLP
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  • MONEY AND EXCHANGES
    • 109 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BIO OFFER HIGH LOW 3 months BQ*****H 13.04.89 3.90 3.85 3.88 3.77 6 months 1 year BY*****H 23.11.89, 4.21 4.16 4.22 4.16 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code rate BIO OFFER HIGH
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    • 1189 4 SINGAPORE: Large buying orders for the US dollar as well as supportive comments from West German officials aided the dollar to trade to an intra-day high of D-mark 1.8425, sterling 1.7640 and yen 127.06 in early Far East trading yesterday. West German, Finance Minister, Gerhard Stoltenberg commented that
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    • 241 4 Most IMM currency futures finished the day lower, with Japanese yen futures posting the largest losses on Thursday. Spreading the mark against the yen remained the featured trade of the week as dealers sold the Japanese currency in favour of the relatively strong West German unit. The March mark
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    • 314 4 HONGKONG: Gold ended slightly easier in quiet and directionless two-way trading with renewed buying by Taiwan investors yesterday. Bullion closed at US$4O3 50/404.00 an ounce unchanged from the local open and compared with New York's close of U*****.25/75. On the local market, gold fell HK$ll to close at
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    • 175 4 Gold futures on Jan 12, 1989 tOO tray ouncn. USS par troy ounce Opan Mgfl Low •otto ion 89 404 50 4-1.10 Fab 406 00 406.70 404 00 405.80 •0 60 Mar 406.30 0.60 Apr 411.30 413.10 409.30 411.10 0.50 Jun 416.20 41 6.70 41X30 416.30 0.50
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    • 58 4 THE OVERNIGHT rate on the Singapore money market fell 9/16 point to close at 4-3/4 per cent yesterday. Short-term rates were unchanged across the board. S$ Interbank rates at the close yesterday: OfFB MO Ov#r4 3/4 4 1/J 1-monMi 5 5/16 3 3/16 2-monrfi 5 5/16 5 3/16
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    • 451 4 BA Futures MARCH Eurodollar futures opened five ticks higher yesterday than Thursday's Simex close at 90.47 on a firmer greenback as well as bullish remarks by West German Finance Minister Stoltenberg Market sentiment was mixed and dealers refrained from creating fresh position ahead of the retail sales figure and
      BA Futures  -  451 words
    • 226 4 ASIAN DOLLAR deposit rates closed at opening levels yesterday, with the market waiting for the release of US December retail sales and producer prices due later in the day. US$ Offff MO 7 doyt 9 1/4 9 1/8 1 montf i 9 5/16 9 3/16 2 month,
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    • 170 4 I* Indicates ttv# ivtrigt ot tt># prim tending rates o( 12 banks In S'por* Interbank market rates (offer/bid) on Jan 13 uss DM SWFC Y«n 7 doyi V 3 12 3/1* l/l* 3/1* l/l* 7/1* J/l* 9 9/1* 7/1* t 13/U 1 l/l* 13 7/i 13 3/4
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    • 1374 4 CURRENCY FUTURES OPTIONS Friday, Jan 13, 1988 DEUT3CHEMARK (SMEJQ F«t 55 can* Ml* Lam 53 54 55 56 30 19A 8aa 19 N Mm 378 708 55 puta Laat Saa 3 39 73 1 MUh Mar 88 call* Law 8aa Mar 88 puM Him Laat Saa SI 53 54
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  • Page 4 Advertisements
    • 116 4 f FAR EASTERN FREIGHT CONFERENCE A SARAH. BRUNEI AND SARAWAK FREIGHT CONFERENCE FAR EAST/GULF OF ADEN AND RED SEA PORTS CONFERENCE NOTICE TO SHIPPERS CURRENCY ADJUSTMENT FACTOR A review of the latest currency values in January 1989 has resulted in a radical downward adjustment of the Currency Adjustment Factor from
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  • BANKING AND FINANCE
    • 246 5 Reuter WEST GERMAN Finance Minister Gerhard Stoltenberg has called on the US to support a capital increase for the International Monetary Fund and the World Bank's soft-loan affiliate, the International Development Association. "I hope that the new US Congress will be more
      Reuter  -  246 words
    • 236 5 Reuter THE TOTAL VOLUME of overseas pension funds being managed by Japanese investment advisory firms is likely to rise about 30 per cent to an estimated US$4 billion to US$5 billion by March 31, 1989, market sources said in Tokyo on Thursday. This compares
      Reuter  -  236 words
    • 320 5 Reuter ARGENTINA has outlined some debt conversion schemes to its bank advisory committee aimed at galvanising interest in a proposed new money package before the country's May 14 elections. Argentina's financial representative to the US, Daniel Marx, suggested a new type of debt auction in Argentina
      Reuter  -  320 words
    • 293 5 Reuter STATE-OWNED Philippine National Bank will start selling part of its 11 million common shares to the public in July for at least 1.5 billion pesos, Bank President Edgardo Espiritu said. He said Philippine President Corazon Aquino has given approval in
      Reuter  -  293 words
    • 54 5 AFP FOR THE first time in its 300year history, a woman sat on the board of leading insurer Lloyd's on Wednesday. The privilege has gone to 43-year-old scientist Mary Archer. Mrs Archer, wife of popular author and former Conservative Party chairman Jeffrey Archer, beat nine
      AFP  -  54 words
    • 351 5 Financial institutions lack self-control, says official Reuter THE HEAD of China's central bank has criticised his and other state banks for fuelling record inflation last year and pledged tighter controls on money. "Our forecasting of economic changes was inadequate," said People's Bank of China
      Reuter  -  351 words
    • 276 5 FT FINANCE MINISTERS and central bank governors from the Group of Seven leading industrial nations may meet soon, Nigel Lawson, UK Chancellor of the Exchequer, said on Thursday. Speaking in the House of Commons after talks in Washington this week with US Treasury Secretary Nicholaa
      FT  -  276 words
    • 181 5 Reuter THE Commonwealth Bank of Australia said it will raise its prime overdraft lending rate to 17 per cent from 16.5 per cent, effective January 16. The government-owned bank said it will also raise the other element of its split prime, the loan
      Reuter  -  181 words
    • 158 5 AFP THE FOURTH larger US bank, Chemical Banking Corp, laid on Thursday that its not earning# soared 26 por cant in tha fourth quarter of last year, bringing the year's total net earnings to a record U*****.6 million. In 1967, the company reported losses totalling
      AFP  -  158 words
  • COMMODITIES
    • 248 5 Chinese Produce Exchange Sellers' noon dosing prices on Jon 13 (S*/100 kg) Coconut oil Mk FOt 112.00 OW drum FOB 122.00 Nt» dram FOt 126.00 Copra Mixed (IOOM) 67.00 Popper Mwdofc wt*e FOt NtW 730.00 Sarawak "NH FOt foq NtW i- J 720.00 WQwat ipeciai block FOt NIW
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    • 146 5 Telerate FUEL OIL prices were slightly higher on the Singapore market yesterday. A number of unconfirmed deals were heard done for late January/early February lots at USSS7S.S U5576.5 per tonne fob Sing. Twenty thousand tonnes of CST-180 was sold at US$74 tonnes fob Sing. Market sentiment
      Telerate  -  146 words
    • 204 5 THE Kuala Lumpur Tin Market held steady at M*l9.M a kg due to preweekend covering with Dtooers Ming raiionec Dy 20 per cent yssterdsy "Nobody wants to budge with miners remaining stubborn at the MS2O mark and consumers keen at the lower level. We have to wait tor
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    • 293 5 RAS prices In 8 OMMg, FOB In bniw I NOON CLOSE Buyors S#N#rt 8wy*rs Int 1 RSS Prom P' 222.00 223.00N 220.00 2214)0 Int 1 RSS Feb 89 223JO 224.50 221 JO 222.50 In* 1 RSS Mor 224.50 225.50N 222.50 223.50 Int 2 RSS OF 214.00 216.00N
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    • 197 5 Soybean Wheat SOYBEAN FUTURES withstood several sell-oft attempts. rallying Iste to close mixed in moderstely light dealings, ranging from up 1-1/4 cents per bushel in May to down 2-1/2 in August on the Chicago Board of Trade on Thursday. CBT soy product futures recovered from early lows to close mixed,
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    • 266 5 London Commodity Exchange Buyer/Seller dosing prices on Jan 12, (£/tonne unless specified). Previous closing prices In parenthesis. Coffee tosh in-stor« London, option OF London Jan 1160/63 (1195/98) High/Low 1163/30 Mar 1136/58 (1180/81) High/Low 1160/20 Sales (5531) Cocoa Mar 791/793 (815/816) High/Low 810/780 May 802/803 (824/825) Mgh/Low 819/792 Sales
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    • 229 5 SINGAPORE: Rubber prices ended lower with February 1 RSS buyer quoted at 221.50 cents a kg yesterday, down one cent from Thursday s finish. On the TSR-20 Award market, prices were easier on light selling in thin trade. February buyer was quoted at 197.50 cents a kg, down 2.50
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    • 76 5 (canft/kg) FEBRUARY 1989 MARCH 1989 (currant month) (forwor xi month) RAS NOON NOON Bwy*n S*Han S*D*n SSt 20 190.00 200.00 198.00 200.00 SSt 50 196.00 199.00 196.00 198.00 MRELB Buy«n > n»ri •wyari SMI CV 317.00 319.00N 319.00 32I.00N SMIL 314.00 316.00N 316.00 318.00N SMI 5 279JO
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    • 392 5 MALAYSIAN CRUDE PALM OIL FUTURES closed marginally lower in moderate trading on the KLCE yesterday. Dealers said the weak sentiment was in line with the bearish overnight close at the Chicago Board of Trade. February and March shed Ms 2 each to Ms9l6 a tonne and Ms9lB a
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  • Page 5 Advertisements

  • WORLD MARKET
    • 850 6 Technical indicators send out warning signals NYT THE DOW JONES Industrial Average is trading at its highest levels since the 1987 crash, to a chorus of disbelief. Contrarians can take comfort in just how much doubt there is, but in the meantime there
      NYT  -  850 words
    • 449 6 Reuter BIG-VOLUME trading of Brierley Investments Ltd (BIL) shares in recent weeks has kept the New Zealand share market abuzz with speculation. "The raider may be raided," one broker said. Brierley, the orchestrator of numerous takeover bids around the world, has never been
      Reuter  -  449 words
    • 447 6 Reuter AN INQUIRY by bourse investigators into a politically-tinged French insider share dealing scandal is likely to spread to the US, Switzerland and Luxembourg, French Finance Ministry sources have said. Finance Minister Pierre Beregovoy was also pressed by opponents of the Socialist
      Reuter  -  447 words
    • 1605 6 Reuter FRANKFURT: A crop of rumours swept through the German stock market yesterday, combining with profit-taking on call-options, to unsettle investors and push some shares lower. Daimler dominated the market after rumours emerged that the firm had made large losses in the foreign exchange markets and would
      Reuter  -  1,605 words
    • 772 6 New York Reuter WALL STREET stocks extended a rally on Thursday, rising tor the second straight session on broad-based buying by institutions and professional traders. Traders said some futureslinked buying also fuelled the advance. However, late profit-taking pared about a third of the market's gains. The
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    • 902 6 London Reuter LONDON SHARES rose strongly in active opening trading yesterday after a system failure at the stock exchange delayed the start of the FTSE 100 share price service. Dealers said excitement over GEC and Siemens' joint £1.7 billion bid for Plessey had faded since it would
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    • 107 6 HONGKONG Hongkong Indox Friday 1,***** ThorsdOY 1.096 30 WNk ago 1 .***** Hang Song Indox Friday *****0 Thunday 2*7933 WMt O0O 2.766 65 All Industrials Friday Z5329 Thundoy 2.5205 WMk ago 2.467 0 NEW YORK Dow Jonos Thundoy 2.***** WtduMdoy 2J0643 WMk ago Z 190.54 TOKYO Nflckoi Average
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  • Page 6 Advertisements
    • 90 6 PAPUA NEW GUINEA TIMBER COMPANY REQUIRES Expressions of interest from experienced logging and timber processing companies to joint venture with a PNG owned company to develop timber leases in PNG. Only those interested in an equity contribution participation at all levels need register. Our client is a member company of
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  • REGIONAL MARKETS
    • 1345 7 Hongkong HONGKONG share prices yesterday closed at the day's low on profit-taking after four consecutive post-crash highs, brokers said. The Hang Seng Index ended the day 35.35 points lower at 2,843.98. The broader-based Hong Kong Index lost 23.23 to 1,875.07. Turnover shrank to HKSI.4O billion
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    • 157 7 Reuter THE SECURITIES Exchange of Thailand Index rose 2.48 points to 419.19 yesterday on a turnover of 9,698,217 shares worth 758.26 million baht. JAN IS MKT Ao Kham Thai 304 6 Ayudhya Invaatmant. 38.90 0.5 Bangkok Agro-tod 106 unch Bangkok Bank Bank Ot Ayudhya. 291 364 -2
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    • 173 7 Reuter SEOUL STOCKS drifted lower in thin trading yesterday with investors' confidence undermined by the arrest of a prominent ruling party member, brokers said. The composite index finished at 886.55, down 2.67 points from Thursday's close. Declines outpaced advances by 267 to 190. A Democratic Justice
      Reuter  -  173 words
    • 162 7 Reuter BOMBAY share prices fell for the third day in a row yesterday on concern that the Finance Ministry might be planning a new tax strategy in order to meet increased spending in fiscal year 1969/90, ending in March, brokers said. They said this
      Reuter  -  162 words
    • 396 7 Reuter SOARING FINANCIAL Issues pushed most Taiwanese share prices sharply higher yesterday as turnover continued to swell on increased investor confidence, dealers said. The weighted index jumped 260.48 points, or 4.6 per cent, to close at 5,873.91 against Thursday's 5,613.43 finish while turnover surged to NT537.53 billion
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    • 153 7 Reuter THE NEW ZEALAND share market yesterday tooK time out to consolidate after posting solid gains In thin trading since opening for 1969, brokers said. "It needed to consolidate; the buyers aren't so keen at these levels," one broker said. The Barclays Index eased 1.12 to 1,918.04
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    • 91 7 Reuter THE MANILA market ended the week firmer yesterday as advances tilted the Manila composite index slightly upward to close at 838.61 points from the previous 836.21, ending four consecutive declines. Brokers said Philippine Long Distance Telephone led gainers on New Yorkinitiated interest, and coupled with rises
      Reuter  -  91 words
    • 552 7 Tokyo Reuter TOKYO share prices ended higher yesterday, with the main index at a record cioae, after a week of strong gains on bullish sentiment linked to the start of a new imperial era in Japan, brokers said. "Sentiment is positive and markets around the world look
      Reuter  -  552 words
    • 445 7 Australia Reuter AUSTRALIAN SHARES consolidated recant gains to end at an eight-week high yesterday, dealers said. They said trading settied after a spate of local buying spurred by strong performances in the US. UK and Japan. Institutional investors joined the buying, targeting leading industrial, mining and energy stocks
      Reuter  -  445 words
    • 904 7 FT AFTER YEARS of effort and massive sums spent setting up in the Tokyo market. most foreign securities houses in Japan find profitability as remote a goal as ever. But although some analysts in Tokyo believe losses will force more foreigners to
      FT  -  904 words
    • 173 7 NYT NOMURA SECURITIES International. the American affiliate of the world's largest securities firm, is again trimming its US staff, particularly in the equities securities area. The company declined to comment, but industry sources estimated that no more than a few dozen employees would be laid
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    • 93 7 Reuter FAI INSURANCES Ltd will buy the outstanding SO per cent of New Zealand stockbroker Morrow and Benjamin Ltd from Wardley Australia Ltd. sources said. The Auckland-based broker is being acquired through FAI Metropolitan Life, a wholly-owned unit of FAI Insurances NZ Ltd.
      Reuter  -  93 words
  • Page 7 Advertisements
    • 735 7 NOTICES SANDI ENTERTAINMENTS PTE LTD (IN VOLUNTARY LIQUIDATION) NOTICE OF FINAL MEETING NOTICE 18 HEREBY GIVEN that pursuant to Section 306(1) of the Companies Act (Chapter 50) a final general meeting of the abovenamed company will be held on 14 February, 1909 at 10.30 a.m. at the office of the
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  • SES
    • 791 8  -  By MICHELLE OH PROFIT-TAKING dampened share prices yesterday morning but renewed buying interest later led the local market to a firmer close, making it five days of gains for the week. The Straits Times Industrial Index, which pushed past
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    • 102 8 BATU KAWAN BERHAD: 24th AGM at the Registered office, Wisma Taiko, 1 Jalan S.P. Seenivasagam, ***** Ipoh on Saturday, Jan 21 at t2.30 pm. MALAYAN BREWERIES LIMITED: 55th AGM at OCBC Centre, 19th storey on Tuesday, Jan 24, at 11.00 am. ELECTRO MAGNETIC (8) LTD: 7th AGM at
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    • 304 8 Managers' prices MARA-Bumlputra for Jan 14/16 First B'putra 6.74 679 Singapore Unit Trust S*cond B'putra 6.09 6.14 Th* Comuci Th* Savings Fund 101 0.89 107 094 Third B'putra Fourth B'putra fifth B'putra 441 535 2.97 446 540 302 S'por* Frog Fund S'por* S«c Fund S'por* lnv*st Fund S'por*
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    • 18 8 Company RIGHTS ISSUE Toogkah Htdgs Ow-tor on* $1 00 En-data: Jan 6 Books dot* Jan 20
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    • 295 8 Company RIGHTS ISSUE C 1 Holdings 27 million loan stocks m the ratio of $3 loon stock lor every five ordtaory Causeway Inv shorti held Issue of $7,252,937 nomtnol amount of 6% loon Stock 1989/94 on the basis of $1 nominol amount of loan stock with two TSts
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    • 5756 8 Gr's Gr's 19M l/M Tel Last Vol Day Last Quota Dlv Dlv r Id Nat M Cap High Low Cod* Company Sala or(•000) High Low Buyer Seller C'vr PI E $mil SESDAQ JAN 13 187 114 t 4000 Amtek Eng 200 124 -1 40 125 124 123
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  • KLSE
    • 3385 9 AFTER six consecutive days of gains, the Kuala Lumpur stock market finally succumbed to profit-taking to finish on a slightly eaaier note in moderate trading yesterday. But Interest in blue chips helped the New Straits Times Industrial Index to set yet another poet-Crash high record. The
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  • COMPANIES & STOCK MARKETS
    • 433 10 TAKING ADVANTAGE of the current buoyant stock market, Wing Tai Manufactory (S) Pte Ltd has revived its listing plans with an expected offer of 40 to SO million shares to the public at a subscription price of just above $1. The
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    • 350 10 ANOTHER FACET of rice trading group See Hoy Chan's restructuring has emerged, this time centred on finance company Singapura Building Society Ltd. Last month, the Teo family of See Hoy Chan brought their 24-per-cent holding in property group Malayan
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    • 283 10 LISTED BUT suspended plywood maker International Wood Products Ltd, which has been under receivership more than a year ago, is facing a winding-up petition from a Sabah-based company. It is understood that Shell Marketing Co of Borneo has filed a winding-up writ on
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    • 373 10 MBT RASHID HUSSAIN Bhd (RHB) the first stockbroking-based company to go public in Malays.ia has reported a consolidated operating pre-tax profit of M 55.35 million for the six months ended November 30, 1988. RHB said turnover amounted to M 51,867 million
      MBT  -  373 words
    • 530 10 Reuter STRONG FOREIGN buying is fuelling a market rally in Hongkong which has produced four consecutive post-Crash highs in a week. Analysts have said they perceive Hongkong stocks as un-der-priced. "The latest rally is supported by both local and overseas institutional
      Reuter  -  530 words
    • 344 10 SINGAPORE AIRUNES Lid (SIA) said it will take delivery of the first of its new Boeing BA B*****0 planes in March, three months after the scheduled delivery date. The delay was because Federal Aviation Administration certification of the B747-400 aircraft was deferred to January from December, SIA said
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    • 654 10  - Town City reveals bid of up to $186 m Tussle over sale of Hotel Meridien By CORRINA LIM TOWN AND CITY Properties Ltd which is trying to block the sale of Hotel Meridien in Orchard Road has revealed for the first time an offer of as high as $186 million
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  • Page 10 Advertisements
    • 428 10 Financial Newsmakers ADVERTISEMENT More of 'Singapore' In Singaporo Business PAMPERED PATIENTS Red carpet treatment is becoming the norm not only in the hospitaliy industry but in hospitals. To woo patients, private clinics are going high-tech and pampering the sick with first-class services that even hoteliers are talking about. A FAR-SIGHTED
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  • Executive Lifestyle
    • 274 11 THE TURKEY AWARDS, which Executive Lifestyle handed out last week, are not real trophies of course. At least not yet. They exist only in the imagination. Why are we clarifying this? Because a reader called earlier this week to ask if he could have a few
      274 words
    • 431 11  -  GOBBLE O GOON ON SATURDAY MORNING. I was woken up by a colleague who had been threatened by a group of rather angry young men (and women presumably) from OCBC. And they were, or had been, friends. The object of their wrath? Not any Turkey award given
      431 words
    • 958 11  -  What's it like to be a sushi chef? Is it dangerous to talk to one while he's sushi-ing? Why don't women chefs sushi? JAIME LYE stepped into the kitchen of one of Singapore's top Japanese restaurants in the gmi hope of distinguishing ootoro from
      958 words
    • Executive Lifestyle: Pursuits
      • 565 12  -  COURVOISIER DINNER By TAN KEE WEE THERE ARE many stages in a man's life. The first is characterised by the desire to make money by any means which his ingenuity can devise. Towards the last stages, a man is no longer content to earn
        565 words
      • SHORT TAKES
        • 546 12 THE MEN gasped. The women fainted. The playwright was declared mad. It's just as well for the sexes to battle in bed, but one does not hang dirty linen out to flap in the wind. Especially not in 1888 when Miss Julie was written. It
          546 words
      • 248 12 IF NOT for his dentist, Suresh Prabhu might not ba having a champagne and curry party tomorrow. The winner of BTs Giant Christmas Crossword Puzzle openly pilfered the contest edition of Executive Lifestyle at his orthodontist's office after having his teeth serviced,
        248 words
      • 470 12  -  VARIETY SHOW By MARIA YANG Thousands of miles of red reflects upon green where birds sing Water villages and mountain walla with wine store banners blowing in the wind The Southern Kingdom has four hundred and eighty temples How many pavilions in the mist
        470 words
      • 494 12  -  BRIDGE By SYBIL HOLLOWAY THE UNITED STATES finally won their first Open World Team Olympiad Title this year when they beat the Austrian team 289-247 in the 96-board final of the eighth World Contract Bridge Olympiad held in Venice. Until then, the
        494 words
      • 949 14  -  HEALTH By RICHARD SEAH RECENTLY, I had two contrasting assessments of my state of health. After analysing my blood and urine and conducting various other tests, a doctor told me everything was normal except for two things my level of HDL cholesterol,
        949 words
    • Executive Lifestyle: Entertainment, the Arts
      • 1040 13  -  ROGER LOH zooms in on the Second Singapore International Film Festival which opens today ROGER LOH F THE TRUTH be known, there appears to be less resistance to art and commerce today than 10 years ago. They are no longer alien symbols. Art
        1,040 words
      • 934 16  -  i i'Mnj Roger Loh BLUE-EYED SOUL is a black definition for white singers whose stylized singing nudges the intensity of soulful innovation. You can never be quite sure about blue-eyed soul. It has a black variant uncommon among many white soul imitators.
        934 words
    • Executive Lifestyle: Entertainment & Pursuits
      • 706 15  -  FOOD FESTIVAL By HARISH MEHTA LUMBERING of gait, towering of height and gregarious of manner, Farooq Abdullah is Kashmir's Mr Tourism. He's actually the Chief Minister of Jammu and Kashmir, but Farooq is so representative of the Kashmiri that he has even had the epithet
        706 words
      • 709 15  -  By N K YONG WHAT WINES are ready for drinking in 1989, what are the wines you would like to drink, what are the wines available here, and finally the bottom line what wines your bank account can afford, may all
        709 words
      • 472 15  -  rnrntim i+ompiiGo oy Juanita Shakila STAGE performances: Dancaaatton. Jan 15 at Bpm. Victoria Theatre. This is the second dance recital by Cecilia Hon's Ballet Theatre Studio. The programme consists of three sections: vaudeville, ethnic and contemporary and ballet Items include Circus, Lion City Variations. All That Jazz and other
        472 words
    • Executive Lifestyle: Sports
      • 422 17  -  TENNIS By CHARLES SAVAGE WITH FIVE international tennis events already on the cards and three of them making their debut, 1989 looks to be a sports year of tennis. Curtains rise with the US$lOO,OOO inaugural Tiger Beer Pacific Rim Tennis Championships, more popularly refered to as
        422 words
      • 330 17 SNOOKER AFP ENGLAND'S Willie Thorne and Welshman Doug Mountjoy both breathed huge sighs of relief after reaching the semi-finals of the Mercantile Credit Snooker Classic in Blackpool, England, on Thursday. Thorne was made to sweat by his plucky young compatriot Martin Clark before
        AFP  -  330 words
      • 530 17 AP MEN'S tennis is bracing for the era of player power and the biggest upheaval since the sport opened its doors to professionals 21 years ago. As the Australian Open.gets under way in Melbourne on Monday the first big tournament of what could be
        AP  -  530 words
      • 487 17  -  on TMCK With JEROME FANDOR EVERYTIME I look at the runners for a feature race I look for the horses Ivan Allan trains. "The Master" proved he is back at his best taking the Sultan s Gold Vase, the MRA Cup and the Governor s
        487 words
      • 486 17 GOLF AP AFTER FOUR YEARS of nagging injuries, financial struggle and professional frustration, Brad Bryant is back. "I think I'm almost as good a player as I was before I got hurt," the 34-year-old Bryant said after taking the secondround lead on Thursday
        AP  -  486 words
      • 265 17 BASKETBALL AP CHARLES OAKLEY scored six of his 12 points during a 15-0 spurt that opened the US National Basketball Association's third quarter on Thursday as New York beat the Charlotte Hornets 106-89, the Knicks' 12th consecutive home victory. Mark Jackson scored 18
        AP  -  265 words
      • 130 17 AP THE Royal and Ancient Golf Club, the sports's governing body, said Thursday that new regulations on measuring the grooves on golf clubs would go into effect next January. The regulations will affect only one professional tournament, the British Open, since others are not directly under
        AP  -  130 words
      • 164 17 MOTOR RALLY AFP BELGIUM'S Jacky Ickx can forget •bout overall victory despite powering his Peugeot into the lead and provoking a major row with one day to go in the ParisDakar motor rally in Senegal on Thursday. He overtook hla Finnish team-mate Ari Vatanen, who had
        AFP  -  164 words
    • Executive Lifestyle: Personal Investment
      • 642 18  -  CHARTPOINT bf CHARLES CHOW H—d at R—mrch, J Bulla* S Co THIS WEEK'S strong rallies in both the Singapore and Hongkong stock markets, the result of a strong inflow of foreign monies, saw daily turnovers averaging $100 million and HK$l.5 billion respectively.
        642 words
      • 969 18  - Currencies the pick of the crop FOREIGN EXCHANGE By AMY BALAN FOR THOSE UNCONVINCED about stocks but are game for some play in foreign currencies, opportunities abound. Last year, for example, a Sin-gapore-based investor who had put his money in an Australian fixed deposit account would have reaped a total
        969 words
      • 678 18 Reuter TECHNICAL ANALYSTS are bullish about the US dollar this year. Chartista, deploying techniques known by such names as speed lines, Fibonacci retracements and pattern recognition, think the dollar could reach highs above 2.35 marks and 150.00 yen. "There is an inverted head and
        Reuter  -  678 words
      • 885 18  -  BEoinnEF[s. mnER m By CORRINA LIM SINCE THE Central Provident Fund introduced the Approved Investments Scheme about two and a half years ago, members have invested more than $1 billion of their compulsory savings. Nearly six out of every hundred CPF members
        885 words
      • 508 18 BASE METALS FT WHAT DOES the future hold for base metals demand and prices? About this time last year, the copper price unexpectedly raced to record levels and was quickly followed by those of most other base metals. After a lull during
        FT; Source: Shearson Lehman Hutton  -  508 words
    • Executive Lifestyle: Perspective
      • 329 19 BACK WHEN condoms were a rarely mentioned form of birth control, few people ever thought about how long condoma lasted in storage. But now that they have become a vital method of preventing the spread of the deadly Aids disease, the US Food and Drug
        329 words
      • 341 19  -  JOHN M CARTER Door Sir, There has been considerable correspondence about the increase in car ownership in Singapore, and the many proposals have exhibited the Singapore penchant for the stick rather than the carrot. A more positive attitude is displayed by correspondents who distinguish between
        341 words
      • 133 19  -  D W DISTANT Dear Sir, The driving licence renewal advice mentions that the fee can be paid at any Post Office on production of the card and the driver s identity card or passport. So when my son's advice arrived and since he is on
        133 words
      • 162 19  -  letters to the Editor STEPHANIE YAP Corporate Communications Officer Singapore Telecom Deer Sir, We refer to the letter "Alio? Alio? Telecoms, please" by D W Distant (BT, Jan 7, 1989). We would like to thank Mr Distant for his feedback on public phones along
        162 words
      • 186 19  -  ONG SAY CHEONG for Dlr-Gen of Public Works, Ministry of National Development Dear Sir, We refer to the letter, "Planning the streets of the 21st century" (BT, Dec 10, 1968). The writer has proposed to completely separate the pedestrians and vehicles by confining them
        186 words
      • 961 19  -  By MIMI MANN AP SO MANY MYSTERIES remain about the pyramids of Egypt that researchers have paid little attention to the workers who built them. But a US-Egyptian archaeological team is sifting through the desert sands for clues to the missing link between the early pharaohs and their
        AP  -  961 words
      • 502 19 OK S™) QatuJtday 14TH JANUARY, 1989 IT IS SAD not to have a home. It is sadder to go away and live somewhere thinking that it is home, only to discover that it is not. The story of the nine teenagers who set up a
        502 words
    • 417 20  -  PWD calls for pre-qualification By LEE HAN SHIH BARRING unforeseen snags, the huge project to build a road-link from Singapore mainland to its two southern islands, Sentosa and Pulau Brani, will be ready by early 1992. A first round tender of the project, known as
      417 words
    • 354 20 COMPAQ Computer Asia, local subsidiary of one of the world's largest computer makers, plans a major marketing campaign this year to promote its products. And to coordinate its marketing efforts, Compaq Computer has appointed Lim Soon Hock as its managing director, a
      354 words
    • 368 20 Reuter A SENIOR Vietnamese government official yesterday left for talks in China, breaking a stalemate in relations between the two old foes and reflecting their commitment to an early settlement to the Cambodian conflict. Dinh Nho Liem, first vice-for-eign minister, left for
      Reuter  -  368 words
    • 415 20 Reuter INDONESIA is trying to get private business to tum it from an oil and commodity exporter into an industrial power, Industry Minister Hartarto says. "We can compete in the world export markets,'' he told Reuters in an interview on Thursday. "We are starting
      Reuter  -  415 words
    • 167 20 Bernama ASEAN has played a significant role in improving the region's image, Indonesia's chief of the armed forces Gen Try Sutrisno said. "The map of South-east Asia will not be as good as it is without the presence of Asean," he said at the inauguration
      Bernama  -  167 words
    • 337 20 THE United States intends to open up more trade opportunities with countries in tbe Pacific Rim, which it considers the region with the greatest economic growth potential, say two visiting US Senators. More trade opportunities in the region would lead to improved
      337 words
    • 172 20 THE GOVERNMENT is to ban cigarettes which contain more than 15mg of tar and I.3mg of nicotine each from Oct 2 this year. Some brands of cigarettes currently available in the market have as much as 40 mg of tar and
      172 words
    • 139 20 MALAYSIA will host the Commonwealth Heads of Government Meeting from October 18-24, Foreign Minister Datuk Abu Hassan Omar said on Thursday. It will be the first time that the biennial meeting would be held in Malaysia, he said in a statement Datuk Abu
      139 words
    • 344 20  -  By JOHN THOMAS MICHAEL MORRIS, chairman of i the British parliamentary group on Singapore and a member of similar groups on four other Asean countries, said here yesJ terday that Asean should raise its profile in London as a bloc and
      344 words
    • 83 20 Reuter COMEX gold futures racked up early gains yesterday on aggressive buying after the dollar slipped to lows for the day. Gold for delivery in February rose US$2.7O at U*****.50 an ounce, rebounding from U*****.50, versus Thursday's low of US$4O4. The rally came on rapid fire
      Reuter  -  83 words
    • LATE FILE
      • 67 20 Reuter US WHOLESALE prices rose 0.4 per cent in December and increased four per cent in all of 1988 for the largest increase in seven years, the Labour Department said yesterday. Even though the Producer Price Index showed the largest increase last year •j"®* 7 -1
        Reuter  -  67 words
      • 52 20 AFP THAI Prime Minister Chatichai Choonhavan, who took the top poet in August, has said that he may quit his job next year when he turns 70. Mr Chatichai said that his own physical fitness, not politics, would "dictate" whether he would complete his fouryear
        AFP  -  52 words
      • 38 20 Reutevr THE SOVIET Union wants South Korean companies to help develop Siberia, and South Korean businessmen will visit Moscow in March to expand economic exchanges, Chung Ju-yung of the Hyundai Group said yesterday.
        Reutevr  -  38 words
      • 38 20 Reuter CHINA said yesterday that Hs grumbling consumers could expect only a modest drop in inflation in 1989 and that five-month-old susterity policies to cool the overheated economy had to be maintained. Reuter
        Reuter  -  38 words
      • 32 20 AP THE Association of Tin Producing Countries decided in Kuala Lumpur to increase its export quota by 4.4 per cent for the 12-month period beginning in March. AP
        AP  -  32 words
      • 33 20 Reuter THE WORLD'S largest luxury goods conglomerate, LVMH Moet Hennessy Louis Vuitton, yesterday named dynamic French financier Bernard Arnault as its chairman after a bitter boardroom feud. Reuter
        Reuter  -  33 words
  • Page 11 Advertisements
    • 9 11 The bubbly winner, PAGE 12 Weekend Crosswords, PAGE 15
      9 words
    • 165 11 -i mmm m m JKE* «!i 0 *5 '/5^2 K ?1 T X Burberrfs C/ v. Autimfi) Dealer.i: DAIMARI fSETAX—HA VELOCK; ORCHARD If. CIASSKJII METRO GRAND IA 'CAT PLAZA ROB/XSOXS SOGO FAR FAST REPTILE HOf'SE FJ BEXJAMIX CHAXGI AIRPORT GRAXD CLASSIC H.AIJJ-YS DEPARTMENT STORE HI 'IJi PTE LTD MATHER LODGE
      165 words

  • Page 12 Advertisements
    • 123 12 kN y f WA Scalpel...scissors...sutures... Business Times all the current trends that affect them. Whether you're a surgeon, lawyer, contractor or engineer, you need to be kept well informed to maximise returns on your money. In the same way a surgeon needs his tools to operate, he needs Business Times
      123 words


  • Page 14 Advertisements
    • 281 14 %A Where to entertain. ONE GOOD REASON TO LUNCH AT THE PALM GRILL IS OUR APPETISER BUFFET ANOTHER IS THE CHOICE OF MAIN OX'RSKS. PALM agjg For between $26+ and $40+ r-oil y° u can se ect fr° m our appetiser CjKILL buffet including seafood, smoked salmon and oysters. Choose
      281 words
    • 205 14 MALAYSIAN HIGH TEA ONLY $7.00++ m w? +0 i Try Something Malaysian Style "HIGH TEA" From three to six every afternoon your choice of 15 Buffet spread of delicious Kueh Lapis, Kueh Dadah, Mee Siam, Kueh Kuchee, Agar Agar Gundil, Bubor Hitam, Gula Melaka and many more. Unlimited servings Time:
      205 words
    • 173 14 PLEASINGLY HYATT Discover the world of sensational Singaporean dishes in a buffet. Taste Chinese. Malay. Indian and Nonya specialities in one meal. At Plum's, daily for lunch and Friday ana Saturday for dinner Price: S2OV A fabulous one-stop gourmet's dream! <-.v I^3 HYAn Regencv©Singapore 10-12ScowOooa Snoaoor®o922 1m 733l 1 86
      173 words
    • 148 14 Drinks at j ONE for ONE prices vV dub^ fc mEZZSocHote! Jd 5 Coleman Street, Singapore 0617 Tel: 338-7733 1 7* TEA DANCE Sat. Sun Public Holiday 2 pm to 6 pm $5.30 ascoTHEOue Level 4, Exceteior Hotel Lounge The heat is on with 9/ear? U k They'll hum up
      148 words
    • 241 14 >r«* AcTg i r.da'fVri ><* !aM| ™>T"* «W j J** \m^ k! Be thrilled by the romantic sights, sounds and flavours of Rome, Florence, Milan... served up on our lavish buffet tables. Sample Lasagne Verdi, Spaghetti Alle Vongole, Torta Siciliana, Strawberries in Marsala Wine... mamma mia! There are over 60
      241 words

  • Page 15 Advertisements
    • 272 15 <6 A 4 a Sunday Brunch: A great family outing If s a wonderful way to combine a late breakfast with an early lunch on a lazy Sunday. Sausages, bacon, eggs any way you want them oysters, smoked salmon, tasty entrees, roast... right through to pastries, puddings, fruit salad and
      272 words
    • 30 15 White out of Black Unlock the secret of Black Tower. A delightfully fruity, light, white wine from the Rhine in Germany; preserved in a pre-Roman shaped, black bottle. 1 Wmm
      30 words
  • Page 15 Miscellaneous
    • 778 15 CRYPTIC PUZZLE ACROSS 8 Cheat a type you hang around with (7) 9 Say excitedly about a new amour "It's the greatest" (9) 13 He will be at home when I take leave (5) 14 After the break-out. nail about fifty, altogether (2. 3) 15 Doesn't remain a stay-at-home when
      778 words

  • Page 16 Miscellaneous
    • 1630 16 Guilt, tough choices and the call of duty Movies WHAT do you do when you learn that the man you have successfully defended in court is actually guilty of murder? Ed Harris plays the lawyer who faces some tough choices in The Last Innocent Man. Roxanne Hart plays the client's
      1,630 words
    • 1220 16 SATURDAY BBC 30.0 mHz In VHF Band N 6AM Newshour. 7.00 World News. 7.00 Commentary. 7.1S From the Weeklies. 7.30 Muttitrack 3. 0.00 Newsdesk. 0.30 Personal View. 0.40 Recording of the Week. 0.00 News Summary followed by Outlook. 0.25 Financial News. 0.30 Classical Record Review. 0.40 Book Choice. 0.40 New
      1,220 words

  • Page 17 Advertisements
    • 128 17 THE MEW MARIGOLD YOGURT DRINK J Marigold Yogurt Drink contains proteins, calcium and many nutrients essential for our healthy living. It also contains live L. acidophilus to balance our intestinal flora, and aid our disgestive system. And, there are no artificial colours or flavours. Bulgarian peasants live to a ripe
      128 words

  • Page 18 Advertisements
    • 28 18 BT welcomes Investment ideas and viewpoints from brokers, bankers and other readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, S'pore 0923
      28 words

  • Page 19 Advertisements
    • 46 19 BT welcomes letters from readers. Your letters must Include your signature, full name, address, and home and office telephone numbers, If any. You may wish to add a pseudonym If you wish. Address your letters to: The Editor, Business Times, 390, Kim Seng Road, Singapore 0923
      46 words
    • 176 19 m HH S m pr °perty IMA r "r y rr-r II &S i ■< n •t /tr «S v>r c> >-v a >--; (V--SK:< £Ai M BT SURVEYS Looking Wider, Thinking Deeper Some subjects are of such interest to our readers that they demand more space and more research
      176 words
  • Page 19 Miscellaneous
    • 64 19 1PI0T5/ vou'Re supposep to PAlslt It PROM > bottom ~T UPWARP5 to T -tvtetop y 0 s ii'; MS* »*> a si« Is Nv> M t m u si ft! ANiytMiNlGYODMV. KING TUTT By Geoti Watson IT u3f\S UNTILTV4G riGHTjNG BROKeOOT J /a-o c\ <y v -<v \> P)j r<
      64 words

  • Page 20 Advertisements
    • 175 20 Focus on insurance IN RECOGNITION of the increasingly important role played by the insurance industry in Singapore, BT will publish its first Insurance Supplement on Jan 26. The theme will be "Meeting the challenges of the *****" Senior executives and leading professionals in the industry have been invited to contribute
      175 words