The Business Times, 18 February 1989

Total Pages: 20
1 20 The Business Times
  • 12 1 BUSINESS TIMES MCI (P) 45/12/88 Weekend Edition, Feb 18-19 1989 75 CENTS
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  • 240 1 Dow down WALL STREET stocks were mixed in early trading yesterday following the report of a December trade deficit of US$11.89 billion, about as expected. However, bonds were little changed. The Dow was off two at 2309 but gainers held a four-to-three lead over declining issues. Reuter
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  • 104 1 AFP THE US TRADE deficit was US$ll.9 billion in December, bringing the 1988 trade deficit to U*****.3 billion, a 19.4 per cent cut in the record U*****.3 billion recorded in 1987. It also marks the first time since 1980 that the US has cut
    AFP  -  104 words
  • 284 1 UPI RIVAL Cambodian factions presented sharply contrasting peace plans yesterday, prompting analysts to give tomorrow's peace talks no more than a 50-50 chance of reaching a political settlement in the Cambodian conflict. "External factors in the Cambodian problem are relatively easier to overcome
    UPI  -  284 words
  • 232 1 SHARE PRICES in Singapore see-sawed their way to a marginally higher close yesterday, as Tokyo surged to a new record high. The Straits Times Industrials Index managed a 0.1-point gain to 1,129.93 after hovering within a narrow range. The Business Times Composite Index crept
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  • 487 1  -  Support from Singaporean and Indonesian interests By LEE HAN SHIH Property Correspondent SINGAPOREAN and Indonesian interests are backing an Austra-lian-led consortium which has won the right to build a $35 million casino and holiday resort on Christmas Island. Headed by Perth property man Frank
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  • 542 1  -  By MARTIN SOONG LAWYERS debarred from practising because of criminal convictions can no longer appeal to the Privy Council in London with the passing yesterday of the Legal Profession (Amendment) Bill. Debate on the controversial
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  • 325 1  -  By ALVIN TAY Financial Editor DBS BANK has finally decided to increase its prime lending rate by a quarter of one point to 5.5 per cent, after ignoring the rate increases of its three local rivals for the past six months.
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  • Page 1 Advertisements
    • 236 1 Nikon VWa 'A 1 ty A ■nt ffpna i rintii rnovigripnic ayiivnv More reports, PAGE 2 Full report, PAGE Regional marfcats, PAGE 7 World marfcota, PAGE 6 Economists on US doflcit, PAQE 3 IT symposium 2 The 'weak' people factor Information technology 2 Improving the quality of life The Philippines
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    • 200 1 W\. JP •moke, more fire Page 11 Don't forget about Armani From the playground of Provence Page If TV programmes for today and tomorrow Page It Double insurance for a popular decision Page 17 A warning from Robert Prechter Page 19 CONNOISSEURS F O R COLLECTORS When choosing your Dunhill
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  • HOME NEWS
    • 626 2  -  YESTERDAY IN PARLIAMENT Reports by ANNA TEO, MARTIN SOONG SHOEB KAGDA THREE BILLS the Planning (Amendment) Bill, the Urban Redevelopment Authority (Amendment) Bill and the Controlled Premises (Special Provisions) (Amendment) Bill that together form the framework for the conservation programme were passed yesterday.
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    • 560 2 THOUGH the government had been thinking about severing links with the Privy Council for some time, it was recent events which had brought matters to the fore and crystallised the government's thinking. Home Affairs Minister Prof S Jayakumar was responding to queries on the
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    • 186 2 SENIOR Minister of State for National Development Dr Lee Boon Yang yesterday gave a rundown of the HDB's inventory of unsold three- and four-room flats. Replying to Cairnhill MP, Dr Wong Kwei Cheong, Dr Lee said that, as at 31 Dec 1968, there were a total of 11,102
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    • 136 2 THE HDB's Anthony Garden estate will not be sold to Singaporeans under existing housing rulee, said the Senior Minister of State for National Development, Dr Lee Boon Yang. It will be sold en bloc by open public tender later this year. Dr Lee dismissed Dr Wong Kwei Cheong's
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    • 93 2 TO ANOTHER question from Dr Wong Kwei Cheong, Minister of State (Finance and Foreign Affairs) BG George Yeo said the foreign workers' levy will not be used for the training of workers and managers. The levy was introduced as a control mechanism to curb the inflow of
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    • 119 2 HOSPITAL fees must go up periodically, in line with cost increases, whether or not a hospital is restructured. The Acting Health Minister Yeo Cheow Tong said this in reply to a question from Mr Chew Heng Ching (Eunos GRC) on how the restructuring of the Singapore General Hospital
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    • 258 2 SINGAPORE AIRLINES' first manufacturing venture, Singapore Jamco, expects sales turnover of more than $1.5 million for its aircraft cabin equipment within its first year of operations. First established in January 1988, Singapore Jamco was jointly set up by SIA with the world's largest aircraft galley and
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    • 146 2 COME FEB 20, be on the lookout for Yaohan discount coupons in your issue of The New Paper. The New Paper is teaming up with Japanese supermarket chain Yaohan in a promotion drive to boost their sales. "The promotion is in keeping with our emphasis on reader
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    • 152 2 THE High Court yesterday postponed by two weeks the auction of lawyer Francis Seow's furniture and equipment from his Battery Road office. The delay is to allow Seow's lawyer, Mr V K Dube, to secure a banker's guarantee for $34,120.58. failing which the auction will proceed. The
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    • 161 2 OPPOSITION politician Seow Khee Leng yesterday failed in his application to set aside a bankruptcy order against him. Mr Seow. who was made a bankrupt on Feb 3 this year for failing to pay the Prime Minister a judgment debt of more than $200,000, had
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    • 502 2  -  By JEFFREY TSANG PEOPLE Singapore's most important resource form, ironically, the "weak link" in the Republic's information technology strategy. In a paper presented at the NUS-NCB Symposium on Information Technology and Singapore Society, Associate Professor Eddie Kuo of the university's sociology department said there
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    • 223 2 NATIONHOOD, stated BrigadierGeneral (Res) George Yeo, has given Singaporeans "a unique opportunity to internationalise ourselves in a way which preserves us as a self-consciously Singaporean community, locally and overseas "We need to encourage the immigration of talent into Singapore at the same time as we encourage
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    • 82 2 RELIGION is personal and must not become a public issue dividing Singaporeans from one another, said Senior Minister of State for Education Dr Tay Eng Soon yesterday. Noting that there was a worldwide resurgence of all religions, he cautioned that religious groups in Singapore should be very
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    • 56 2 SAFETY checks have been carried out satisfactorily on 20 Boeing aircraft belonging to Singapore Airlinea. The Civil Aviation Authority of Singapore (CAAS) said yesterday the checks were made on the fire detection and extinguishing systems of the engine and cargo compartments of the aircraft, all of which were
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    • 238 2 INFORMATION TECHNOLOGY is going to be geared towards improving the "quality of life" instead of just as a means to maximise economic returns. After two years of directing efforts to use IT to create economic wealth, National Computer Board general manager Lim Swee Say said
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    • 842 2 AT CONVENTIONAL WHARVES Seng leong a olo*9sid« 18.02/0700 World Umpire M/5 OlOAQfidf 18.02/2300 Mi Arrival Ambassador 7 J5 1802/1600 1902/1500 w WMI BCIIII Oi|)ii Im i Budi Utomo 12 18.02^)600 1902/2300 KEPPEL WHARVES Hung lee II 12 1802/0730 18.02/1800 Con Jindoi Equator V Leipzig KI6 K22 K2B
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  • Page 2 Advertisements
    • 244 2 2Wy < Jfefi®ls PERTH, WESTERN AUSTRALIA REAL ESTATE 537.89 ha (1329 acres). Less than an hour from the city centre. Swan River Frontage. Adjoins National Park. 11 Titles. Special Rural Sub-Division. PROTEAS 90,000 individually irrigated and specially selected plants. Grown for export involvement in a $16 billion industry. RED DEER
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  • OVERSEAS
    • 631 3 THE US GOVERNMENT was scheduled to close the books yesterday on the first annual improvement in the trade deficit since 1960, but the deficit has levelled in recent months and many economists say it will get worse again. The financial markets' mild reaction
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    • 270 3 AFP PRESIDENT George Bush said on Thursday that he intended to press on with the US goal to liberalise world trade, with agriculture a top priority. Speaking as former trade representative Clayton Yeutter was sworn in as Agriculture Secretary, Mr Bush said: "We've got to knock
      AFP  -  270 words
    • 100 3 Reuter US HOUSE of Representatives Speaker Jim Wright has said that the House, at President George Bush's request, would postpone a vote scheduled for Feb 23 on a bill to require disclosure of foreign ownership in US businesses. Mr Wright said in a statement on
      Reuter  -  100 words
    • 355 3  -  By HARISH MEHTA In Manila THE DWINDLING RANKS of the foreign media in the Philippine* is one indicator that the country has achieved political and economic stability as the exodus of foreign media reveaia, according to ministers and top-ranking bureaucrats in the country.
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    • 871 3 ARRIVALS DEPARTURES Operator Sorvico Local From Operator S#rvlc* Loco) For number tfmo number tlmo SU son 0115 LAX/NRT GIA GA961 0815 CGK CAL G333 0405 TPE SIA SQ104 0830 KUL SIA SQ401 0600 CMS SIA SQ192 0830 PEN SIA SQ41 0610 MAA THA TG402 0830 BKK MAS
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    • 458 3 FT THE European Commission's "priority, even obsession" remained the completion of Europe's single market, Mr Jacques Delors, its president said on Thursday. But he also promised early initiatives by Brussels this year in such diverse areas as workers rights, environment and export credit
      FT  -  458 words
    • 385 3 Reuter THE BURMESE military council, which took power last September to crush an uprising against the Socialist government, has agreed to a time-table for elections in May 1990, state radio reported. And Japan has recognised the Burmese government and said it would resume
      Reuter  -  385 words
    • 118 3 AFP THE JAPANESE ECONONY is still expanding, supported by a steady growth in domestic demand. A report released by the Economic Planning Agency (EPA) in Tokyo yesterday said personal consumption continued to boost domestic demand and that private capital spending had continued to show a strong upward trend.
      AFP  -  118 words
    • 202 3 AFP FORMER premier Cesar Virata, a longtime aide of deposed president Ferdinand Marcos, has been named as adviser to the coordinating committee of the Philippine Aid Plan, officials said yesterday. An economist and engineer, Mr Virata now heads his own business consultancy firm, and
      AFP  -  202 words
  • Page 3 Advertisements
    • 38 3 LONDON CjII your Travel Agent or Air Cauda M 7J*****. A BREATH OF FRESH AIR The business person's choice every Tuesday, Thursday, Saturday and Sunday. Leaving Changi Airport at 22.-05 Hours and arriving Heathrow early the following morning.
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    • 36 3 QUALITY CAR AT THE BEST PRICE in.Mll WW TS (1721 cc) 62,800 GTX (1995 cc) 98,000 1 TURBO (1995cc)~ $138,000 Mil Prices quoted are sub/ect to change wit tutu t pnor notice 'All pnces ARF NETT
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  • Page 3 Miscellaneous
    • 114 3 wt riH M ssSS'J. Singapore OUTLOOK: Mr. met* tar ovor a taw •nMMjnMRM tata ••port tor 24 hoar* prior to 7Jopa on Fob 17 at Rofcry day* Mo i Ofto Port* Porth Rio 'ionolro Homo Son Fris'oo Son Jvan *T i n■ n xirmoQC Sao Paulo Seoul rtili hlm v'OonotTi
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  • MONEY AND EXCHANGES
    • 1194 4 SINGAPORE: Despite the Bundesbank choosing not to hike official rates on Thursday, the US dollar ended yesterday's session on a softer note. Range was: D-mark 1.8390/1.8340, yen 125.85/125.50, sterling 1.7769/1.7710 and S$ 1.9235/1.9215. Attention was on last night's US trade report. If this turns out to be a
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    • 219 4 Most IMM currency futures gradually erased initial losses to finish narrowly mixed on Thursday, with some contracts near session highs set late. Prices drifted higher during quiet afternoon trading as traders squared positions in anticipation of yesterday morning s release of US trade balance statistics for December. Average estimates
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    • 204 4 Indlcat— tfte iv«rag« of Km P»1m« landing rat** at 12 ma|or banks In S'pora r Interbank market rates (offer/bid) on Feb 17 us* DM SWFC Y«n 7 dor* 9 7/1* 3/1* 13 13/1* 13/14 1/1* 3 13/1* SJ/l-3 1/3 4 3/14 3/14 1 m4I 9 9/1* 7/1*
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    • 253 4 ASIAN DOLLAR deposit rates closed at their opening levels in quiet trade yesterday. Dealers said most operators were reluctant to create new positions ahead of yesterday's scheduled release of US December trade figures. Term rates were steady to slightly lower at the outset and hardly moved thereafter.
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    • 458 4 BA Futures MARCH Eurodollar futures opened four ticks lower on Simex yesterday than the Thursday close at 90.10 following the Bundesbank's decision not to raise inter--691 rate# which sparked rumours that the US trade deficit figure, to be released later last night, would worsen. Prices continued to dip lower
      BA Futures  -  458 words
    • 64 4 THE OVERNIGHT rate on the Singapore money market rose by 1/6 point to cloee at 4-7/8 per cent yesterday. One-month and two-months fell by 1/16 point each. S$ Interbank rates at the dose yesterday: OffH MO OwrntgN 4 7/1 4 3/4 1 -m*i S 1/4 S l/« S
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    • 112 4 Treasury bills Period Issue Yesterday's dosing Day's code Maturity M0 OfflEi HKJH LOW 3 months 8Q*****V 18.0S.89 3.60 3.55 3.57 3.48 6 rnont+w BS*****N 17.06.89 3.92 3*7 3.90 3J2 1 yeor BY*****H 23.11.89 3.99 3.94 Government notes and bonds Period Issue Maturity Coupon Yesterday's dosing Day's code
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    • 1397 4 CURRENCY FUTURES OPTIONS Friday, Fab 17, 1989 OCUTSCHEMARK (SIMCX) Mor 88 cafta Mar 88 puM M* Low 1 San Low um SI CAS 32 S3 1608 162 e 54 828 82 26A 25 SS 33 32A 32 74A 76 M 152A 1S3 J/ 59 1 CAS Apr M emit*
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    • 487 4 HONGKONG: Gold closed lower in quiet afternoon trading yesterday on light short-covering by local investors after selling pressure by Australian operators in the morning pushed the metal down. Bullion ended at U*****.50/379.00 an ounce against an initial U*****.70/383.20 and compared with New York's close of U*****.80/383.30 On the
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  • BANKING AND FINANCE
    • 336 5 Reuter QENERALE Bank NV of Belgium said it plans a three-part capital increase that will boost its equity by around 13 billion francs. The increase includes a one for six rights issue to existing shareholders and holders of its 1979-1991 convertible
      Reuter  -  336 words
    • 355 5 Reuter BANK OF New York Co Inc told an analysts' meeting that it expected to cut its staff by 17 per cent, or 3,000 people, by the end of 1989 and that it expected net income to grow at an annual
      Reuter  -  355 words
    • 189 5 Reuter THE fugitive banker at the centre of a scandal battering the Greek government has sent a defiant letter from his American prison cell, telling investigators in Athens that he will not be made a silent scapegoat. The letter from Greek-Ameri-can banking
      Reuter  -  189 words
    • 105 5 Reuter BANK OF JAPAN governor Satoshi Sumita said the Group of Seven major industrial nations confirmed their policy coordination on currency at their last meeting, and that such coordination remained intact, an Economic Planning Agency official said. Commenting on the recent fall of the dollar, Mr
      Reuter  -  105 words
    • 138 5 Reuter AUSTRALIA and New Zealand Banking Group Ltd said in Melbourne that it will raise its Australian prime lending rate to 18 per cent from 17.5 per cent, effective on Feb 20. The bank is the second of the "Big Four" trading banks to raise
      Reuter  -  138 words
    • 218 5 Reuter MAJOR Canadian banks boosted their prime lending rate to 12.75 per cent on Thursday, the sixth increase since last spring, when the benchmark rate stood at 9.75 per cent. The action was led by the Bank of Montreal and came just hours before the
      Reuter  -  218 words
    • 398 5 Trade surplus with US on the rise Reuter TAIWAN'S huge foreign exchange reserves are swelling again and its trade surplus with the United States is rising. Central Bank governor Chang Chi-Cheng told a news conference that foreign exchange reserves had jumped about US$2 billion so
      Reuter  -  398 words
    • 479 5 Reuter JAPAN will work on a new plan to recycle some of its cash surplus to developing countries to help solve the Third World debt problem. Prime Minister Noboru Takeshita said on Thursday. Now that over 80 per cent of
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    • 142 5 Reuter PRUDENTIAL-BACHE Securities Inc. a unit of Prudential Insurance Co of America, named W James Tozer Jr as president and chief operating officer. Mr Tozer, a former executive of Hongkong and Shanghai Banking Corp's Marine Midland Banks Inc unit, succeeds James Barton,
      Reuter  -  142 words
  • COMMODITIES
    • 239 5 Chinese Produce Exchange S*ll*rs' noon closing prkei on Fob 17 (S$/100 kg) Coconut oil BuMc FOB 108.00 OW drum FOB 118.00 N*w dram FOB 122.00 Copra Mixed (loos*) 64.00 s*ll*rs Popper Munfok whit* FOB NIW 730.00 Sarawak whit* FOB foq NLW 720.00 Sarawak >p*dal black FOB NLW 535.00
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    • 263 5 London Commodity Exchange Buyer/Sellei r closing prices on Feb 16, (£/tonne unless specified). Previous closing prices in parenthesis. Coffee Basis in-store London, sellers option CIF London Mar 1112/14 (1101/05) High/Low 1136/10 May 1075/76 (1076/77 High/Low 1107/1075 Sol** (4284) Cocoa Mar 851/853 (878/879) High/Low 883/852 May 871/873 (899/900) High/Low
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    • 150 5 Telerate FUEL OIL prices were slightly higher in fairly quiet trade yesterday. Traders attributed this to the current strength seen in the crude oil market. However, prices of prompt CST-180 car- goes remained slightly weaker owing to ample supplies in Singapore. Talk was also centred on
      Telerate  -  150 words
    • 222 5 SINGAPORE: Rubber prices ended moderately lower yesterday with March 1 RSS buyer quoted at 211.00 cents a kg. Brokers said prices lost 1.75 cents in the morning session due to a lack of fresh factors in thin trading. Values lost further ground in quiet afternoon trading on stop-loss selling
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    • 80 5 (cann/kg) MARCH J 989 APRIL 1989 (current month) (forward month) RAS NOON NOON tvyn S*«*n SSR 30 195.50 197.50N 195.50 197 50N SSR 50 193.50 195 50N 193.50 195.50N MRELB Buy*ri C-il Ivym SMR cv 319.50 321.SON 321.50 323.SON SMR I 317.50 319.50N 319.50 321 SON SMR
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    • 137 5 THE KLTM price firmed nine cents to a new three-year high of M 521.53 a kg yesterday on continued shortcovering demand from European interests. A smaller offering of 59 tonnes aided the rise. Dealers also noted little participation from locals and a rationing of five tonnes. The KLTM's
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    • 276 5 RAS prices In S c*nt*/kg, FOB In bal« NOON CLOSE 6uy*rs S*ll*rs 8wy*fs Sellers Int 1 RSS Prompt 215.00 216.00N 210.00 211.00 lot 1 RSS Mor 89 216.25 217.25N 211.00 212.00 bit 1 RSS Ape 218.00 219.00N 213.00 214.00 bit 2 RSS OP 206.50 208.50N 202.50 204.5ON
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    • 364 5 MALAYSIAN CRUDE PALM OIL FUTURES recovered from an initial fall to close mixed on pre-weekend covering and some speculative buying yesterday. April closed higher at M 5944 a tonne while May was down at M 5939 March and June ended unchanged at M 5945 and Ms93B ringgit respectively.
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    • 134 5 SOYBEANS closed lower on the Chicago Board of Trade on Thursday with late active speculative selling sparked by widespread talk Brazil's official Production Financing Company (CFP) will increase its 1988/89 soybean production estimate to 22.685 million tonnes. CFP crop figures were to be released on Thursday or yesterday. The
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    • 150 5 LATE speculative selling took new crop Chicago Board of Trade soft red winter wheat prices sharply lower and July closed down nine cents per bushel at U553.99 on Thursday. News the EC and Soviet Union resolved a dispute that could send 1.5 million tonnes of French wheat to the
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  • Page 5 Advertisements

  • WORLD MARKETS
    • 381 6 NYT ONE OF President Francois Mitterrand's oldest friends and four other people have been named in indictments in an insider-trading scandal that has rattled the Socialist government. Roger-Patrice Pelat, a friend of Mr Mitterrand since the two were held together in a German
      NYT  -  381 words
    • 1233 6 Reuter MILAN: Italian shares edged slightly higher in light volume yesterday, taking overall gains for the week to 1.2 per cent despite uncertainty over the political outlook ahead of the Christian Democrat party congress, dealers said. The MIB index closed 0.41 per cent up, with buying interest
      Reuter  -  1,233 words
    • 822 6 New York Reuter WALL STREET'S eagerness on Thursday to extend recent gains was checked by investor wariness ahead of the January trade report yesterday. Stock prices ended modestly higher, after shrugging off news of a surprisingly robust 8 per cent gain in US housing starts last
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    • 500 6 London Reuter LONDON share prices opened cautiously mixed yesterday in very quiet trading ahead of important UK inflation data and US trade figures due later yesterday. At the official 0900 GMT opening, the FTSE-100 Index was 0.1 point down at 2,033.7 with just over half the constituent
      Reuter  -  500 words
  • Page 6 Advertisements
    • 480 6 NOTICES NOTICE NOTICE IS HEREBY GIVEN that, I Lek Yak Sua of Blk 219 #05-121 Boon Lay Ave, Singapore 2264, have applied for a Retail Beer Shop licence in respect of premises at M/s Sentosa Kiosk 6 at Sentosa Island Singapore (0409), and that this application will be heard in
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    • 438 6 IN THE MATTER OF THE COMPANIES ACT, CAP. SO AND IN THE MATTER OF WATVIK MARINE PTE LTD (In Voluntary Liquidation) MEMBERS' VOLUNTARY WINDING UP At the Extraordinary General Meeting of the members of WATVIK MARINE PTE LTD, duly convened and held at 1 North Bridge Road #19-07/06 High Street
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    • 308 6 THE COMPANIES ACT, CAP. 50 LEONG RATTAN PRIVATE LIMITED (IN VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of the Members of LEONG RATTAN PRIVATE LIMITED duly convened and held at 101. Upper Cross Street #04-43, People's Park Centre, Singapore, 0105 on the 15th day of February 1969, the following Special
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    • 829 6 AT EUAT ENTERPRISES PTE LTD (In Members' Voluntary Winding-up) NOTICE IS HEREBY GIVEN that at an Extraordinary General Meeting of At Euat Enterprises Pta Ltd, duly convened and held a! 36 Robinson Road. #05-01 City House. Singapore 0106. on 17 February 1969 the following resolutions ware duty passed ar— SPECIAL
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    • 481 6 PANESCO PTE LTD (In Members' Voluntary Wlndlng-Up) NOTICE IS HEREBY GIVEN that at an Extraonftnary General Meeting ot Panesco Pte Lid. duly convened and held at 36 Robinson Road. #06-01 City House. Singapore 0106. on 17 February 1969 the following resolutions were duly passed as SPECIAL RESOLUTION That the Company
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    • 335 6 IN THE MATTER OF THE COMPANIES ACT, CAP. 50 AND IN THE MATTER OF DELLFIELD DIGITAL (SINGAPORE) PTE LTD STATUTORY DECLARATION OF INSOLVENCY I. MICHAEL FENTON AUTY, passport no. *****40 of 28 Tomlinson Road 02-32, Kum Hing Court, Singapore 1024 make oath and say as follows: a) I am a
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    • 34 6 Industrials, gilt-edged and mining aharaa wara not avallabla Learn to make decor statements the way you make fashion statements. Take a tip from 2E HOME fit DECOR. FEB-MAR '89 $3.50 A Times Periodicals Publication
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  • REGIONAL MARKETS
    • 1342 7 Hongkong HONGKONG STOCKS ended a roller-coaster day higher yesterday as buyers returned to the market in the late morning and afternoon, brokers said. The Hang Seng Index closed 25.11 points higher at 3,106.25. It had plunged 20 points in the first hour before starting a rally that
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    • 421 7 Reuter TAIWANESE share prices rallied across the board yesterday on strong buying by investors after Thursday's slight gain, brokers said. The weighted index jumped 165.11 points, or 2.51 per cent, to close at 6,734.90 against Thursday's 6,569.79 finish. Turnover rose to NT$47.B billion from NT537.33 bil- lion
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    • 159 7 Reuter MOST SEOUL stocks yesterday made small gains in moderate trading with construction, financial and trade-related shares leading the rises, brokers said. "Investors are slowly getting over worries about the authorities' tight money policy," a broker at Daewoo Securities said. Trading has been slow in the past
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    • 91 7 Reuter PHILIPPINE STOCKS staged a mild recovery yesterday after news of higher copper prices helped halt a week of downward pressure on mining stocks. Mining shares on the Makati exchange recovered 32.10 points to end with the index at 4,529.06. But on the Manila bourse. mining stock
      Reuter  -  91 words
    • 588 7 Tokyo Reuter TOKYO share prices ended a roller coaster day at a record closing high yesterday as dealing by securitiee houses, a wealth of available funds and bullish forecasts for certain sectors triggered buying, brokers said. The Nikkei index rose 89.81 points. 0.28 per cent, to a
      Reuter  -  588 words
    • 168 7 Reuter THE SECURITIES Exchange of Thailand Index rose 0.26 points to 438.99 yesterday on turnover of 7,526,457 shares worth 540.64 million baht. m 17 BAHT Ao Kham Thai Ayudhya Invaatmant Bangkok Agro-lnd Bangkok Bank Bank Of Ayudhya 424 30 106 265 3M 6 -0 26 -1 unch .9
      Reuter  -  168 words
    • 213 7 Reuter THE NEW ZEALAND share market struggled to gain at the close yesterday with selling pressure arising from the New Zealand dollar's rise against the Australian dollar. The Barclays index rose 1.35 to 2,020.28. Some brokers were surprised that the market held up as well as
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    • 168 7 Reuter BOMBAY share prices closed higher yesterday after a sedate start in moderate trading for the new account but the market undertone was cautious, brokers said. They said the day's gains chiefly reflected higher contango (carryforward) charges for business done in the two weeks ended Thursday. Brokers
      Reuter  -  168 words
    • 506 7 Australia Reuter THE AUSTRALIAN share market closed easier yesterday as stocks struggled to regain losses from Thursday's 28-point slide, brokers said. Leading stocks dominated turnover as the A 51.54 billion January current account deficit continued to dampen enthusiasm in the inter-est-rate sensitive industrial sector. However, the Resource
      Reuter  -  506 words
    • 672 7 Reuter NISSAN MOTOR Co Ltd is changing gear after years of lacklustre financial performance, industry analysts said. Long criticised for its stodgy and unimaginative car designs. Japan's number two car maker has begun to close on arch rival Toyota Motor Co in the domestic
      Reuter  -  672 words
    • 291 7 FT THE JAPANESE authorities are tightening rules covering the flotation of companies on the over-the-counter market in the wake of the Recruit scandal. The Securities Dealers Association of Japan, which supervises the market, said this week it would from April introduce a compulsory auction
      FT  -  291 words
    • 123 7 Reuter GOODMAN FIELDER WATTIE Ltd has said it had discussions about the break-up of British baker Ranks Hovis McDougall pic. GFW New Zealand executive chairman Don Budden said such a matter was not just for GFW to decide as it only holds 29.9 per cent
      Reuter  -  123 words
    • 367 7 Reuter TAIWAN takes its first step towards privatising state industries next month with the sale of shares in China Steel Corp. Chung Le-min, vicepresident for finance of China Steel, said on Thursday that the immediate aim was to
      Reuter  -  367 words
  • Page 7 Advertisements
    • 64 7 ENAVL T 's QUALITY CAR AT THE BEST PRICE CAMPUS -$38,766 AUTO $59,000 GT TURBO $80,800 19 TS -$57,839 GTX -$67,861 TSE $67,839 TS $62,800 GTX (AUTO) $98,000 TURBO -$138,000 25 GTS (AUTO) -$113,800 GTX (AUTO) -$129,800 V6i (AUTO) $168,000 V 6 -$188,000 V 6 TURBO $252,000 GTS $98,000 2000-1
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  • SES
    • 1621 8  -  By MICHELLE OH WHILE some investors waited on the sidelines for the release of US trade figures due overnight, others hunted for bargains or took profits in the local stock market yesterday. As a result, the Straits Times Industrials
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    • 97 8 WEARNE BROTHERS LIMITED: 74th AGM at OCBC Oentre, 65 Chulia Street #19-00, Singapore 0104, on Wednesday, Feb 22, at 10.30 am. THE NEW STRAITS TIMES PRESS (MALAYSIA) BERHAO: 17th AGM at the Theatrette of the company, Balai Berita, 31 Jalan Riong, ***** Kuala Lumpur on Saturday, Feb 25,
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    • 5737 8 1 QOO /M Grs Qr'a IVOO High rOV Low T#l Cod* Company Last Sato FEB 17 orVol (•000) Day Last Quote High Low Buyer Seller Dtv Dlv C'vr Y'ld Nat P/E M Cap Smil SESDAQ 187 120 170 70% 110 130 82% 199* 144 92 135 126
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  • LKSE
    • 3378 9 TAKING advantage of the recent upswing on the Kuala Lumpur stock market, sellers and profit-takers dominated trading yesterday leading the market to close broadly lower. However, a handful of counters managed to buck the downtrend to end with comparatively hefty gains. Talam perked 26 cents to
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  • COMPANIES & STOCK MARKETS
    • 580 10 Plan to boost strength of divisions MBT THE HONG LEONG group in Malaysia is hoping to build up each of its divisions into entities as large as the group itself by 1993. The group currently has four publicly-listed companies under its wing Hong Leong
      MBT  -  580 words
    • 594 10  -  By HERMAN PHUA MALAYSIAN ASSURANCE Alliance Bhd has acquired a 10 per cent stake in Granite Industries Bhd, which owns the Holiday Plaza in Johor Baru, for M 57.92 million. MAA said the nine-million Granite shares were purchased through stockbrokers for
      594 words
    • 272 10 NST YEO HIAP Seng Ltd is investing in a $7 million plant in Vancouver, Canada to produce three-piece cans for its newly set-up beverage manufacturing plant there. The plant is expected to be ready by early next year. Production will commence in August 1990.
      NST  -  272 words
    • 365 10 Bernama MBf HOLDINGS BHD has set its sights on bringing Malaysian investments into Papua New Guinea (PNG) and exploiting the country's vast natural resources. This follows the setting up of MBf Finance PNG Ltd. a finance company, which would
      Bernama  -  365 words
    • 710 10 woo® mm... HOCK LOCK SIEW HAVING FATTENED up Kentucky Fried Chicken in Singapore, Inno-Pacific is ready to put more pizzazz into Shakey's Inc worldwide. The group recently acquired the pizza chain's franchise the world over, except Japan, and
      HOCK LOCK SIEW  -  710 words
    • 293 10 GARMENT-MAKER Wing Tai Holdings Ltd will make its debut on the Stock Exchange of Singapore on Tuesday. Wing Tai shares totalling 180 million will be listed under the industrials sector of the main board, the sxchange said. The company's recent public
      293 words
    • 76 10 THE CASE against former director o< Great Pacific Fiance, Low Chang Hian, has been adjourned for another six weeks. This was requested by Low Chang Hian's lawyer, Mr M Puvanendram, so that he can "take full instructions" from his client, the Subordinate Court was told yesterday. His
      76 words
    • 28 10 KAMUNTINO Corporation Bhd has acquired a new wholly-owned subsidiary, Kamunting Investments (S) Pte Ltd, with a paid-up capital of $2 for a cash consideration of $1,500.
      28 words
    • 338 10 Cvrrwtf ft»ob JJJ r Austral Amol 20% Fob 17 Mor 3 Mor 23 20% 29% Avimo IJ%Tt Mor I Mar 13 Mar 15 2S%TI 20% Tt Ay«r Motet 44%U Jo* 19 Fob 2 M> 27 62%U) 20% lufcft Kold 10% in Fob 16 Mar 2 Mor 29 10%
      338 words
  • Page 10 Advertisements
    • 44 10 CURRENCY INVESTMENT \MI |{|< I \|'Kl ss TEL: 321 3333 QUALITY CAR AT THE BEST PRICE fr > minis I GTS (1995 cc) $113,800 GTX (2165cc)~ $129,800 (T V6i (2664 cc) $168,000 Uj Pnces quoted are sub/eel to change without pnor notice 'All paces ARF NETT
      44 words
  • Page 10 Miscellaneous
    • 37 10 7ZP 77/^Af/A///w/*r A/p&aep 7& &V*£UArZ' 7W Artf.tfA&t/Z. rtWsZZ C/CV'U- JVSrA/Mf 7& $7W£? sArrvf rfQOAJT&oo*. wrtf A £7Z>W*ft>/.. />?^ by Martell OM, r/MTSV/P 7V &0 <7i>sr 77/Ar~ /rz A/or A Go>££77arS cr t/C*/ /r<£ A QU&77CW or w&/.. >)A*X€?tUff
      37 words

  • Executive Lifetyle
    • 1366 11  -  r Though supposedly semi-retired, the restless Richard Dunhill has no plans to quit yet He wants to continue to diversify Dunhill's products and expand its portfolio to include more brand names. One thing Mr Dunhill will never do, however, is to abandon the company's pipe business (although the
      Picture by KARIM ISKANDAR  -  1,366 words
    • 206 11 ONE YOUNG COUPLE, with no children and whose parents are not in Singapore, figured that the best way to spend Chinese New Year Eve was to eat out for their reunion dinner. But with more and more families doing likewise, Chinese restaurants have become exceedingly crowded.
      206 words
    • Executive Lifestyle: Pursuits
      • 838 12  -  BRIDGE By SYBIL HOLLOWAY IT IS WELL worth devoting this column today to two fine examples of how considerate behaviour, both by partners and by opponents, can make the game of competitive bridge so much more enjoyable. This first example concerns a story in praise of
        838 words
      • 574 12  -  BOOKS By Tony Hillerman Publlshod by Horpor 4 Row Prleo: $14.35, avallaNo at Timm Tho Bookshop Rovlowod by Shoob Kagdo DETECTIVE NOVELS usually have a sense of claustrophobia about them, of being trapped, of not being able to get out Not People of Darkness. Tony Hillerman's detective
        574 words
      • Article, Illustration
        358 12  -  FOOD By THE FOOD TEAM A JADED food connoisseur once described the salmon as overrated. "Everyone picks the salmon. I can't understand why. I really consider it an over-rated dish." Almost immediately, the waitress came round to take our orders. "Hmmm, I'll have the salmon steak, please." he
        358 words
      • Article, Illustration
        380 12  -  TIRED OF TIGHT? Terrified to Team Tacky Textiles with Tasteless Tailleurs: Well, Tremble not, Trusty Teamsters, for Taste Tyrants from Trend Towns have come up with This season's Three T's, and here they are: Report by DICK LEE TRAPEZE EVERYONE from Lacroix to Lagerfeld's doing it the new
        (Pictures from Chanel's Spring-Summer '89 collection)  -  380 words
      • 492 13 WHAT'S SO RIVETTING about being caught in an Armani suit? Why does the name crop up in hack profiles as a ticket to instant chic? Shall we just forget about Armani? Well, it should be
        492 words
      • 215 13 DOES THE NAME Ferdinand Alexander Porsche ring a bell? Well, one out of three will suffice. Mr Porsche's (definitive pronunciation: por-shay) design signature has been lent to a variety of accessories, all of which are born out of his philosophy that "form follows function". Thanks to the
        215 words
      • 219 13 IT WAS AKIN TO stumbling onto a clandestine meeting of conspirators that Valentine's evening at Derwent Restaurant at Chateau-at-Scotts. Only, the conspirators came in hushed pairs and their only passion was probably, well, passion. They looked up. in a haze, slightly annoyed, as we
        219 words
      • 788 14  -  HEALTH By RICHARD 3EAH THE RECENT DEATH of a physical education instructor, and the puzzlement that followed, highlights the common mix up between fitness and health. The two often go hand in hand. But not always. Fitness refers to a person's ability to
        788 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 759 15  -  Q ffline[ By N K YONG THE MERE MENTION of Provence conjures up images of a lovely sunshine-drenched region in the south-eastern part of France, more noted as the playground of the rich and famous rather than as a source of serious wines.
        759 words
      • 764 15  -  F>»v Roger Loh COUNTRY MUSIC lost its mainstream appeal when radio startad paying mora attention to the youth market. In recent years, though, country seems to have reinstated itself as a saleable idiom. Yessir, today's crop of country singers have shown that their music hasn't
        764 words
      • Article, Illustration
        1254 15  -  Complled by Juanlta Shaklla CINEMA: Short Circuit 2 starring Fisher Stevens. Michael McKean and Cynthia Gibb. Now showing at Cathay: 11; 1.30; 4; 6.30; 9.15. Cocktail starring Tom Cruise of Top Gun fame. Now showing at Orchard: 11; 1.30; 4; 6.30; 9.30, and at Marina 1: 1; 3.30; 7;
        1,254 words
      • 395 15 AP COUTURIER Guy Laroche, one of France's most popular designers known for his discreet approach in creating ultra-feminine clothes, died yesterday at his Paris home following a long illness, said a spokesman for Laroche's company. Laroche was 66. During his long career, Laroche avoided the limelight and
        AP  -  395 words
      • 533 16  -  CINEMA By JAIME LYE YOU REMEMBER the old saying about how bad things come not once, but in twos and threes? With Twina, it's a double helping of inanity served under a spot of whipped cream a lesson in the power
        533 words
    • Executive Lifestyle: Sports
      • 410 17 BOXING WITH AMERICAN challenger Mike Phelps carrying a reputation as a hit and run counterpuncher, the promoters of next Saturday's world junior bantamweight boxing title fight at the National Stadium have taken double-insurance against an unpopular decision should the 12round bout require a
        410 words
      • 650 17 UPI MOST BOXING FANS agree Britain's Frank Bruno needs a lot of help if he is to lift Mike Tyson s world heavyweight crown on Feb 25. The debate is over how much help the challenger will receive from Tyson's recent personal troubles.
        UPI  -  650 words
      • 348 17 TRACK FIELD AP AN INTERNATIONAL mix of track and field stars, including Jackie Joyner-Kersee. Said Aouita of Morocco, Marcus O'Sullivan of Ireland and Rodion Gataullin of the Soviet Union, was the focus at last night's Los Angeles Times Indoor Games. Joyner-Kersee, a double
        AP  -  348 words
      • 433 17  -  Oh TMCk With JEROME FANDOR HORSE RACING'S travelling circus takes its show to Penang, home-town of champion trainer Teh Choon Beng. Teh has just completed a memorable comeback to classic racing with a 1-2 finish in the $150,000 Tunku Gold Cup last week with
        433 words
      • 409 17 TENNIS AP JOHAN KRIEK used an assortment of passing shots and a strong serve to defeat No 1 seed Andre Agassi 6-7 (7-9), 7-5, 6-3 on Thursday night, and moved into the quarter-final round of the U*****,000 Volvo Tennis Indoor Championship. After losing a set point
        AP  -  409 words
      • 773 17  -  PROFILE By WALTON MORAIS DRESSED IN A T-SHIRT, blue denim jeans and sneakers with a gold bracelet around his wrist and puffing on a Marlboro cigarette, the muscled sportsman looks the epitome of a successful athlete in a capitalist society. His spiked punk
        773 words
    • Executive Lifestyle: Personal Investment
      • 1079 18 EQUITIES THE ECONOMIST THREE years ago, Australia's finance minister, Mr Paul Keating, used the spectre of a banana republic to spook Australians into some much needed belt-tight-ening. By the start of 1988 it seemed to be working. Mr Keating had sharply tightened monetary policy to
        THE ECONOMIST  -  1,079 words
      • 498 18  -  WARRANTS WATCHER By Chariot Chow Chariot Chow, Hoad of Ro•march, J Ballaa Co STRICTLY SPEAKING, the UMW convertible unsecured loan stock is not what the name suggests. It is not a loan because it cannot be redeemed at
        498 words
      • 690 18 INVESTING THE KEY to successful investing is devising and following a strategy that meets the individual's financial goals. But sticking to the game plan is not always easy to do, according to Sandy Eu. managing director of the Singapore office of Shearson Lehman Hutton. Speaking
        690 words
      • 296 18  -  Antony Burpee year. Antony Burpon, Cr—vtth HK Ltd. THE Straits Times Industrials Index has undergone a rally that started in December after a clear double bottom had formed by November. The rally took off as speculators recognised the STII's oversold status in the light of
        Source: Cresvale Research  -  296 words
      • 721 18  -  US MARKET By ROSIE TAN WHEN A PERSON who has earned the distinction of having drawn the broad outlines of the bull market right sines 1982 warns that the market may be running out of steam, heads naturally turn in his direction. Three
        721 words
      • 967 18 SIMEX OIL FUTURES The Singapore International Monetary Exchange (Simex) will launch Aala'a Ural energy futures contract on Fab 22. Along wNh tha thraa catagoftoa of corporate mambarahlp (claarlng, nondaarlng and commercial aaaodata), 81 max la alao offering Individual tha opportunity to trado undar tha Individual
        967 words
    • Executive Lifestyle: Perspective
      • 1108 19  -  The bigger American law firms today have over 800 attorneys and revenues exceeding US$25O million. BURTON LEHMAN, a partner in the law firm of Schulte, Roth and Zabel, laments the transformation of the legal profession into big business. BURTON LEHMAN NYT THE LAW has become
        NYT  -  1,108 words
      • 143 19  -  letters to the Editor I ALWEE for Permanent Secretary Ministry of Law Doer Sir, I refer to the article, "Changi Golf Club plans $9 million expansion" which was published on Feb 15. 1989. Both the statement by the president of the Changi Golf Club
        143 words
      • 110 19  -  VINCENT HEE for general manager BCCS Dear Sir, We refer to the article "A Case for CASE" by Mr 0 W Distant (BT. Feb 11). The 1989 $10 Uncirculated Nickel Coins (Snake Design) are distributed by The Singapore Mint, but the price is determined by
        110 words
      • 818 19  -  MAH SINGH president Registered Tourist Guides Association of Singapore Dear Sir, We refer to the article "Tour guides fly into criticism in Australia" which appeared in Business Times on Jan 30, 1989. The recent development concerning unlicensed tour guides from Singapore who
        818 words
      • 361 19  -  ROBERTSON E COLLINS Tourism Development/Heritage Conservation Pte Lid Dear Sir, Please refer to your editorial "One up for preservation" (BT Feb 8. 1969). Your comments are timely, pertinent and well-phrased. The Preservation of Monuments Board is the agency that can provide public leadership to identify and
        361 words
      • 457 19 NEWS, IT HAS been said, is an acronym for "North, East, West, South". If that is indeed so, it would make journalism the most inclusive of all professions. In reality, however, much Journalistic curiosity is expended on the bad, the assumption being that what
        457 words
  • Page 11 Advertisements
    • 8 11 I i* Suited to 3 T Page 13
      8 words
    • 321 11 Today, one watch reigns supreme. -1 s -j •a. mi m mm i Vltra-thm Royal Oak for Lidtes and Men in 18kt. gold, IBkt. gold and steel or all steel and Royal Oak Perpetual Calendar, mechanically programmed up until the year 2100. (Illustrated from left to right> BA *****/722 BA,
      321 words

  • Page 12 Miscellaneous
    • 740 12 mmMm mmmim CRYPTIC PUZZLE ACROSS 8 Mean It's to do with money (7) 9 Loss heavy and that makes reading aasier (4. 5) 13 Tasto the duck. It's exotic (5) 14 Is sick of rain, to start with, and complains about it (5) 15 Be left at home, their having
      740 words

  • Page 13 Advertisements
    • 172 13 V, HOW GREAT BOTC FINANCE CAN BROADEN \OUR HORIZONS. We know how it feds when you re on the way up. »v~> I'd like to know more about Sometimes, the money in your pocket just doesn t quite Pleasure Craft Loan Scheme match your dreams. Which is why Great Pacific
      172 words

  • Page 14 Advertisements
    • 926 14 A Where tv entertain... Whet? Tv entertain... Where tv entertain... Where tv ONE GOOD REASON TO LUNCH AT THE PALM GRILL IS OUR APPETISER BUFFET ANOTHER IS THE CHOICE OF MAIN COURSES. PALM For between $26+ and $40+ you can select from our appetiser UKILL buffet including seafood, smoked salmon
      926 words
    • 276 14 The cTMaestm of the £\fczzanine Jimmy Chan retains You will be delighted to know Jimmy Chan Is back at the Mezzanine Lounge with more sentimental evergreens. From 8.00 pm to 1.00 am. But before that, from 3.00 pm —7.00 pm. allow Anne Koh to soothe tired nerves with her velvet
      276 words

  • Page 15 Advertisements
    • 278 15 entertain.... a kc Si —s Sunday Brunch: A great family outing If s a wonderful way to combine a late breakfast wtth 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
      278 words

  • Page 16 Miscellaneous
    • 1612 16 Snubbed honest bachelor, inter-racial couple MOVIES MICHAEL J Pollard plays a timid and gullible mechanic against Robert Redford's brazen con artist in the so-so flick Little Fauaa And Big Halsy, a character study of two motorcycle racers who team up for a big race. It features a flavourful song score
      1,612 words
    • 1332 16 SATURDAY BBC 90.9 mHz In VHF Band II SAM Newshour 7.00 World News 7.00 Commentary. 7.1S From the Weeklies. 7.90 Multitrack 3. 0.00 Newsdesk 0.30 Personal View. 6.45 Recording ot the Week. 0.00 News Summary followed by Outlook. 0.25 Financial News 0.30 Classical Record Review. 0.49 Book Choice. 0.49 New
      1,332 words

  • Page 17 Advertisements
    • 250 17 th*' inv Yeiiv ot > out" iVt a \n ot hV th*' lvUo > SINGAPORE BUSINESS AN OFFER YOU CANNOT REFUSE! JANUARY WINNER: EDDIE LIM HUNG HUAT IC No: *****61/G Two more computer sets to be won one each in February and March '89 THE GIFT YOU WILL RECEIVE SUBSCRIPTION
      250 words

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

  • Page 19 Advertisements
    • 44 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 add a peeudonym, if you wieh. Address your letters to: The Editor, Business Times, 390 Kim Seng Road, Singapore 0923.
      44 words
    • 169 19 n cxiornvE urtsmi Si RROr EWV > 0 I f vn v>'•'£i >* #A. o P* ti m A sa 33 i r BT SURVEYS Looking Wider, Thinking Deeper Some subjects are of such interest to our readers that they demand more space and more research than can be given
      169 words
  • Page 19 Miscellaneous
    • 67 19 BriSfcOW ftaa&Dtcfcezs JOtJCS IjHPVT GUeSS m gk m «n my SORVIVRL K|T U3PvS IM RT B^lTjsH Mi-sPeeo rril lost OFpce LAST N»GWT I J CVCNMQ tTAMOANO CO. LTD, ISO—1«M ANYTHING mtSSiKG... ucrs see:...suGß^ TONGS... Rue>lC OJ{3£ .PEINKNIFC U»TM p\ Ty-A iNG FOR, G6.TT iHG STORES OUT OF HORSC'S HOOVES... NO
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  • 467 20  -  Danger of carriers bypassing S'pore if fares are low By JOHN TAN THE PLANNED rise in minimum air fares from Singapore to the rest of the Orient and Europe is justified because low fares might lead carriers to bypass Singapore for more lucrative
    467 words
  • 474 20  -  By LEE HAN SHIH QANTAS has given yet another sure sign that it intends to take on erstwhile partners Singapore Airlines and Cathay Pacific Airways in the computerised reservation business in the region. In its latest move, Qantas said it had,
    474 words
  • 333 20 The common winning streak among BT-DHL essay winners THE BEST ESSAYS on the theme "Global City Global Business" were penned not by business executives but by students and potential academics. All three winners of the Business Times/DHL Businessman of the Year Essay Competition, it was discovered when they collected their
    333 words
  • 359 20 Bernama ANY CONSIDERATION of a national economic policy after 1990 when the New Economic Policy expires will be futile without accepting certain political realities in Malaysia, former deputy prime minister Datuk Musa Hitam said yesterday. "Malaysia is multi-racial and different, or
    Bernama  -  359 words
  • 216 20 UPI AMERICAN businesses seeking to compete effectively for booming Pacific Rim trade opportunities in the 21st century have a lot to learn, a US Senate panel said on Thursday. "The US has yet to learn how to trade in the Pacific.
    UPI  -  216 words
  • 147 20 AFP Reuter SINGAPORE has joined the exclusive club of member states which are represented at the United Nations by female ambassadors. The new Singapore permanent representative, Professor Chan Heng Chee, presented her credentials on Thursday to Sec-retary-General Javier Perez de Cuellar. She succeeds ambassador Kishore Mahbubani,
    AFP; Reuter  -  147 words
  • 70 20 MALAYSIAN Trade and Industry Minister Datin Paduka Rafidah Aziz yesterday sampled three facets Ot Singapore s industrialisation policy planning, training and infraatructure. She called at the Economic Development Board, the JapanSingapore Industrial Training Centre and the Port of Singapore Authority and visited a local venture Prlntcraft. She alao
    70 words
  • 477 20  -  By WILLIAM CHIA SINGAPORE'S only sugar refinery says it is lacing a difficult situation because Malaysian sugar refiners are selling sizeable volumes here below their domestic market prices. The managing director of SIS '88, Mr Athol Harley, said the Malaysian refiners are
    477 words
  • 82 20 AP A MAJOR Japanese stock-profi-teering scandal widened further yesterday with the arrest of a former Labour Ministry official suspected of bribery and a raid on the ministry by proeecutors searching for evidence. Shigeru Kano, 55, former head of the Labour Ministry's Employment Service Division, became the
    AP  -  82 words
  • 77 20 Reuter COMEX SILVER futures rallied yesterday in early trading on buying by managed fund traders after tracking the early downturn in gold. March silver gained 3.0 cents at U555,925 an ounce which matched Wednesday's higha for the week. Analysts said initial selling came from local traders with gold
    Reuter  -  77 words
  • LATE FILE
    • 60 20 Reuter THE PRICE of gold Ml to Its lowest level In 2-1/2 year* yesterday morning after selling by Australian producers depressed prices in Asia, dealers said. Bullion was quoted as low as U*****.90 an ounce in London, US$4 down on Thursday's close, before edging up
      Reuter  -  60 words
    • 41 20 AP SOUTH KOREA yesterday appointed career diplomat Kim Sae-taek Ambassador to Singapore. Mr Kim, 51, direc-tor-general of the Foreign Ministry's International Organisations and Treaties Bureau, replaces Lee Chang-eoon, who was reassigned home as an ambassa-dor-at-large. AP
      AP  -  41 words
    • 44 20 Reuter MIDLAND Bank pic, the fourth largeet British bank, said yesterday that 54 of its stockbroking staff would lose their jobs in the latest round of rationalisation in London's financial community. The layoffs are at Midland's Greenwell Montagu Stockbrokers.
      Reuter  -  44 words
    • 53 20 Bernama MALAYSIAN exports to the US under the duty-free Generalised System of Preferences doubled lest year compared with 1987. Malaysia exported U*****.3 million worth of products under the GSP in the first 10 months of 1988, compared with US$2BB.l million in the same period
      Bernama  -  53 words
    • 52 20 Bernama THE INDONESIAN government is considering abolishing the exit permit tax on. people wanting to travel overseaa, director-general of immigration Roni Sikap Sinuraya said yesterday. The exit permit tax requires an Indonesian or a permanent resident to pay 250.000 rupiahs (MS4OO) each time he goes
      Bernama  -  52 words
  • Page 20 Advertisements
    • 141 20 Tha gold report waa not available at praaa Mma. 3 J i I M V «■> /V 4 Made in fine, lightweight 100% cotton, St Michael's slips for men are tailored for extra comfort. A front double lining ensures a better fit. Available in attractive bold stripes. Illustrated: Men's Slips
      141 words