The Business Times, 22 April 1989

Microfilm: NL16529
Total Pages: 20
1 20 The Business Times
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  • Title Section
    Masthead
    12 1 BUSINESS TIMES MCI (P) 45/12/88 Weekend Edition, April 22-23 1989 75 CENTS
    12 words
  • Article
    FINANCIAL NEWS SUMMARY
    245 1 Dow Jones up WALL STREET stocks firmed in early trading yesterday, led by gains in the blue chips. A partial late recovery from losses on Thursday encouraged buying early yesterday, brokers said. The Dow was up 10 at 2387. Gainers led declining issues by about four to
    245 words
  • Article
    Precious metals open higher
    105 1 THE PRICE of gold and other precious metals opened higher in Europe, boosted by higher oil prices and expectations of a weaker US dollar. Dealers in London said the yellow metal was buoyed by the highest New York oil futures close since early 1986 and news
    105 words
  • Article
    Lock icon Japan rejects US idea of managed trade
    399 1 AP JAPAN rejects the idea of managed trade that appears to be creeping into US comments as a way to solve the huge trade imbalance between the two countries, Foreign Ministry officials said on Thursday. Mr Mitoji Yabunaka, director of the ministry's Second
    AP  -  399 words
  • Article, Illustration
    Bonn rate rise hits Asian shares
    229 1 AN UNEXPECTED rise in the West German discount rate on Thursday affected regional markets yesterday. Wall Street and other major bourses fell on renewed concern about higher interest rates and inflation. In Singapore, prices closed easier in less active trading. The Straits Times Industrials
    229 words
  • Article
    Bid for MPHB likely to be settled amicably
    569 1  -  Three proposals to be considered By AMY BALAN THE CONTROVERSIAL M 51.13 billion takeover bid for Multi-Pur-pose Holdings Bhd is likely to be settled amicably to the satisfaction of all parties concerned. As many as three proposals have been marshalled by the
    569 words
  • Article
    Shell and Temasek sign petrochem deal
    578 1  -  By LILIAN ANG THE seal was set yesterday on the biggest ever transaction to be undertaken by governmentowned Temasek Holdings since it began its divestment exercise four years ago. In a move which capped more than a year of negotiations, Anglo-Dutch company Shell signed
    578 words
  • Article
    Lock icon Manila not keen on military cooperation
    131 1 AFP THE PHILIPPINES yesterday expressed concern over build-ups in the Chinese navy and in the Soviet military in Vietnam, but said it was not keen on military cooperation in Asean. The Foreign Department said the Chinese naval build-up and the presence of Soviet facilities
    AFP  -  131 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      185 1 Nikon Tho World's Flnost Photographic Syttom. Full report, PAGE 8 Regional markets, PAGE 7 World marfcets, PAGE 6 rrv Tourism 2 More S'poreans for the Soviet Union S'pore economic growth 2 Expected to be significantly lower this year Gatt talks 3 Hard bargaining still ahead in trade negotiations European Community
      185 words
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      Page 1 Advertisements Column 2
      223 1 >/>+?=`]$^\%[<!>:[`?^&}&;-$$[{" 'Arro, 'Arro Page 11 TV programmes for today and tomorrow Page 12 Art Visual feast at the Hannover fair Page 13 Popping pills may be harmful Page 14 The Italian new wave Page 15 Cooking up a steamy potboiler Page 16 Sptrts Parnevik solves his putting problems Page 17
      223 words
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  • HOME NEWS
    • Article, Illustration
      More locals booking tours to Soviet Union
      421 2  -  By MARTIN SOONG YOU'RE LUCKY if you can get a seat on an Aeroflot flight to Moscow and luckier still if you can get a hotel room in the Soviet capital, says major Singapore travel agents about the supply bottleneck choking the growing
      421 words
    • Article
      SHIPS IN PORT
      1158 2 AT CONVENTIONAL WHARVES VMMI Berth Arrival Departure KEPPEL WHARVES Alpha Nova K3S alongside 23 04/1500 April Glory KI7 alongside 22 04/1800 Concord Ibuki KI6 alongside 22 04/0600 Daleng K29 alongside 24 04,0600 Froiosontos K33 alongside 2204/2300 Gold Asia K36 alongside 23 04/1700 Koto Pusafco <31 alongside 23
      1,158 words
    • Article
      New Paper wins award for graphics excellence
      234 2 THE NEW PAPER has won an Award of Excellence from the Society of Newspaper Design for its graphical style of presentation. Providing the clincher was the paper's portfolio of six informational graphics. Only four other Awards of Excellence were given in the informational
      234 words
    • Article
      First mission from Yorkshire
      243 2 TWELVE Yorkshire businessmen came to town offering not pudding, but board games, clay piping, brake pads and more. In what is believed to be the first trade mission to be organised by a British newspaper, the Yorkshire Post, the members flew into Singapore three days ago.
      243 words
    • Article
      Lock icon Economic growth expected to be significantly lower
      421 2 Reuter LABOUR shortages and a strong currency have hurt Singapore's exports, confirming fears economic growth will be significantly lower this year. "It appears official policies are helping the slowdown. The government possibly welcomes lower growth to cool an overheated economy," a bank economist
      Reuter  -  421 words
    • Article
      N Korean vice-minister's visit
      72 2 THE NORTH Korean ViceMinister for Foreign Affairs, Choi Su Hon, was in Singapore for a two-day visit which ended yesterday. During his trip, he met Yatiman Yusof, Parliamentary Secretary of the Foreign Ministry, and Peter Chan, the ministry's Permanent Secretary Mr Choi discussed developments in the
      72 words
    • Article, Illustration
      Quayle due on May 2 and 3
      200 2 VICE-PRESIDENT Dan Quayle of the United States is to visit Singapore on May 2 and 3 in the course of a regional tour that also takes in Australia. Indonesia and Thailand, the US Embassy here said yesterday. Mr Quayle's visit to the three
      200 words
    • Article
      MEMO PAD
      517 2 Seminars and courses Apr 21, 25 28 Apr 24-26 Apr 24 Apr 26-27 Apr 29 May 2 3 Moy 6-27 May 11-12 Personnel Management Practices Sales Management Indonesia The Emerging Investment Discovery of the Asia Pocific How to Prepare Strategic Marketing Plans Managing Your Own Business Techniques in
      517 words
  • Page 2 Miscellaneous
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  • OVERSEAS
    • Article
      Lock icon Talks on China joining Gatt to begin in July
      235 3 UPI FORMAL NEGOTIATIONS on China joining the General Agreement on Tariffs and Trade (Gatt) will begin in July, offioials said on Thursday. The Gatt officials said the preliminary phase had been completed to determine whether the Chinese application for membership was
      UPI  -  235 words
    • Article
      Lock icon EC plan to ensure product safety
      430 3 Reuter THE EUROPEAN Commission on Thursday announced proposals which would ensure that all products marketed within the European Community were safe for consumers. Although deliberately vague in its definition of safety requirements, the EC executive s draft directive on product safety was hailed as
      Reuter  -  430 words
    • Article
      Lock icon US losing sales to countries which tie aid to trade: report
      362 3 AP US BUSINESS may lose up to US$BOO million annually in export sales because other industrial countries give some of their aid to the Third World on condition that only their products are bought. Between 1984 and 1987, Japan
      AP  -  362 words
    • Article
      Lock icon Moscow elects reform advocates to Parliament
      347 3 Reuter HUMAN RIGHTS campaigner Andrei Sakharov and other prominent advocates of reform were elected on Thursday to the new Soviet Parliament, the Tass news agency said. The results, announced by Tass in advance of a statement from the Academy of Sciences expected yesterday, showed
      Reuter  -  347 words
    • Article
      Lock icon 'Relatively fewer Japanese visit M'sia'
      414 3 Bernama OF THE 1.6 million Japanese tourists who visited five Asean countries last year, only 154.000 went to Malaysia, compared with about 682,000 who went to Singapore, an Asean tourism official said in Kuching. The comparatively small number of Japanese tourists going to Malaysia is
      Bernama  -  414 words
    • Article, Illustration
      Lock icon Hard bargaining ahead in trade negotiations
      468 3 Progress in Uruguay Round of Gatt talks AP US TRADE REPRESENTATIVE! Carla Hills told Congress on! Thursday that the Bush adminis-* tration had achieved a breakthrough in worldwide trade liberalisation talks but that months of hard bargaining remained to guarantee ultimate success "I am
      AP  -  468 words
    • Article
      Lock icon Walt Disney chairman is highest-paid US corporate boss
      251 3 AP WALT DISNEY chairman Michael D Eisner, who orchestrated the company's transformation into a multi-media entertainment titan, tops Business Week's list of highest-paid US corporate bosses with earnings of US$4O.l million last year. Right behind him on the list released on Thursday
      AP  -  251 words
    • Article
      Lock icon US govt employment at record level
      308 3 AP MORE AMERICANS are employed by government than at any previous time in the nation s history, a growth helped by a boom in jobs at prisons and jails, according to a Census Bureau report on Thursday. "Corrections is the fastestgrowing segment" of government
      AP  -  308 words
    • Article
      Lock icon US wants US$2.45b of CFC firms' profits
      254 3 AP US PRESIDENT George Bush's administration plans to siphon off U552.45 billion from profits of companies making ozone-depleting chemicals over the next three years, a proposal that has infuriated the industry and may spark a fight in Congress. The administration wants the money
      AP  -  254 words
    • Article
      Lock icon US to end sex discrimination in diplomatic corps
      152 3 Reuter THE State Department said it would comply with a court ruling and end any discrimination against women in the US diplomatic corps. "The US District Court has ruled that the department has discriminated against women in the Foreign Service dating back
      Reuter  -  152 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      928 3 ARRIVALS Operator S*rvic« Local From number timo ACA AC888 0925 YYZ/LHR/80M MAS MH630 0935 mm. SiA SQI 03 0950 KUL CAl CI806 1000 CGK CPX CX7I0 1000 CGK MAS MH609 1020 KUL GU GA960 1100 CGK SIA SQ105 1105 KUL MA ***** 1130 BWN TRY MI81 1
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      36 3 The bulinen penon't choice every Tuesday, Thursday. Saturday and Sunday. Leaving Changi Airport at 22.-05 Houn and arriving Heathrow earty the following morning. Ca//your Trjvci Agent or Air Cjiudi it 7)2*555 A BREATH OF FRESH AIR
      36 words
  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      58 3 Doonesbury NO, NO,~THE PREAM MEANS SOMETHING! MY CONSCIENCE IS SENDING ME A VERY CLEAR SIGNAL ...AND HE IVORS m~rz gloves ANP THIS BIG GRJNf MIKE, I THINK YOU READ TOO MANY* ZAP COM/A" AT cousee... i a \s 1 BY GARRY TRUDEAU IIWNTPOITf I'M GOING TO TULTHB AGENCY I WONT
      58 words
    • Miscellaneous
      Page 3 Miscellaneous Column 2
      140 3 Singapore OUTLOOK: Showara over a tow vmi In Mm afternoon. Report for 24 town prior to 7.30pm on April 21 at the airport; Mai lamp 34.5 Aaaoc humidity 54 Mln tamp 25.4 Aaaoc humidity M Hra of aunahlna.... 10.54 Rainfall In mm nil Rainfall Ihla mth 113 Rainy daya Ihla
      140 words
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  • MONEY AND EXCHANGES
    • Article
      UOB invests in Taipei venture capital firm
      275 4  -  By QUAK HIANG WHAI UNITED Overseas Bank, which is seeking a banking licence in Taiwan, has invested in Taiwanese company International Venture Capital Investment Corporation (IVCIC). According to newspaper reports in Taiwan, IVCIC vice-president Roger Lo said UOB had chosen to invest in
      275 words
    • Article
      Lock icon Bankers to meet G-7 officials on Brady's plan
      168 4 AFP COMMERCIAL BANKERS will meet officials from the Group of Seven (G-7) industrial nations next month to discuss Washington's latest plan to reduce developing country debt, Japanese sources in Tokyo said. Finance Ministry sources said on Thursday that Japan had proposed that
      AFP  -  168 words
    • Article
      Options
      1204 4 CURRENCY FUTURES OPTIONS Friday, Apr 21, 1989 DEUTSCHEMARK (SIMEX) May M call High Low a 8 San High lay 88 puis Low 1 Jan S3 53 54 55 149* 636 1 38 151 64 15 3A 16A 2 2 14 SI S3 53 54 55 56 J Mgft 438
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    • Article
      IMM
      209 4 MOST IMM currency futures closed sharply higher and near the highs of the session on Thursday after the West German central bank unexpectedly raised its discount and Lombard rates by a half point. Futures started the day mixed and in narrow ranges as traders expected activity to wind down
      209 words
    • Article
      Asian dollar market
      285 4 ASIAN DOLLAR deposit rates closed steady at firmer opening levels in quiet trading yesterday ahead of the weekend Key interest rate hikes by several European central banks helped period rates rise by up to 1/4 of a point at the outset. They remained unchanged in subsequent trading
      285 words
    • Article
      Comex gold/silver futures
      159 4 Gold futures on Apr 20 1989 100 troy ounces. USS per troy ounce Open High Low Sonio Ok 403.00 404.40 401.00 404.70 2.40 F.b 410.00 2.50 Apr 414.00 414.00 410.30 415.30 2.60 Jun 419.00 419.00 419.00 430.70 2.60 Aug 426.10 2.60 Oel 431 50 2.60 Ok 435.00
      159 words
    • Article
      Lock icon Simex
      475 4 BA Futures JUNE Eurodollar futures opened sharply lower yesterday at 89.78 following the Bundesbank's surprise increases in key West German discount and Lombard rates which dashed hope of a Federal Reserve easing of monetary policy. The June contract traded from 89.83 to 89.75 before ending 25 ticks lower at
      BA Futures  -  475 words
    • Article, Illustration
      World interest rates
      191 4 Indicates the average of the prime lending rates ot 12 major banks in S'pore Interbank market rates (offer/bid) on Apr 21 US) DM SWFC Yen 7 doyt 9 IS/I* 13/1* II 3/4—11 3/0 6 3/16— 1/16 6 3/8-6 1/2 4 9/16 7/16 1 mfh 10 9 7/8
      191 words
    • Article
      Government Securities Market
      100 4 Treasury bills Period Issue Yesterday's closing Day's code Maturity BID OFFER HIGH LOW 3 months BQ*****F 20.07.89 4.12 4.07 4.05 4.00 6 months BS89I00N 17.08.89 4.12 4.07 1 yeor BY*****H 23.11.89 4.13 4.08 Government notes and bonds Period Issue Maturity Coupon Yesterday's closing Day's code rate BID
      100 words
    • Article
      Forex markets
      1573 4 SINGAPORE: The US dollar fell in late trade on position adjustments to close on a mixed note yesterday. It closed slightly higher at 131.35/45 yen against New York's 131.20/30 but lower at 1.8465/70 marks against 1.8484/89. The dollar was actively bought in the morning by several players, including
      1,573 words
    • Article
      Money markets
      69 4 THE OVERNIGHT RATE on the Singapore money market closed 1/2 point lower at 4 3/4 per cent yesterday. The one-month rate rose 1/16 point whtle two- and three-month rates were unchanged. S$ Interbank rates at the close yesterday: Of Ft* BIO night 4 3/4 4 5/B 1 month
      69 words
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  • BANKING AND FINANCE
    • Article, Illustration
      Lock icon World Bank plans HK$1b CD issue in Hongkong
      500 5 Reuter THE WORLD BANK is planning a HK$l billion certificate of deposit issue in Hongkong. Hongkong Secretary for Monetary Affairs David Nendick said on Wednesday that a World Bank delegation was in the colony for consultations with the government and local bankers.
      Reuter  -  500 words
    • Article
      Lock icon Fed unlikely to respond with interest rate rise
      301 5 Reuter THE Federal Reserve is unlikely to raise US interest rates in response to a half-point increase on Thursday in official West German rates, US central bank officials said on Thursday. Although bond and stock prices fell on fears that the Bundesbank's
      Reuter  -  301 words
    • Article
      Lock icon West German rate increase sends markets reeling
      740 5 Reuter A SHOCK MOVE by West Germany to raise key interest rates on Thursday stunned world financial markets and immediately sparked fears that Japan and Britain would have to follow suit to combat inflation. The move seems unlikely to win favour at the
      Reuter  -  740 words
    • Article, Illustration
      Lock icon Tokyo rules out immediate rate increase
      321 5 UPI FINANCE MINISTER Tatsuo Murayama said yesterday that Japan has no immediate plan to follow West Germany and other European countries in raising the official discount rate because commodity prices still remain stable. Mr Murayama told a news conference in Tokyo that the government
      UPI  -  321 words
  • COMMODITIES
    • Article
      KL Tin
      188 5 A HIGHER OFFERING of 210 tonnes against bids of 50 tonnes depressed tha Kuala Lumpur Tin Market (KLTM) price by 61 cents to M 528.39 a kg yesterday. The strengthening of the ringgit against the US dollar and sterling was a factor contributing to the fall the largest
      188 words
    • Article
      RAS and MRELB
      279 5 R AS prices in S cents/kg, FOB In bales NOON CLOSE Buyers Sellers Buyers Sellers Irrt 1 RSS Prompt 209.50 210.50N 210.00 211.00N Int 1 RSS May 89 209.50 210.50N 210.00 211.00 bit 1 RSS June 207.00 208.00N 207.50 208.50 Int 2 RSS OP 202.00 204.00N 202.50
      279 words
    • Article
      SSR and SMR
      76 5 (cants/kg) MAY 1989 JUNE 1989 (current month) (forward month) RAS NOON NOON Buyers Sellers Buyers Sellers SSR 30 182.00 184 00N 182.00 184.00N SSt 50 180.00 182.00N 180.00 182.00N MRELB Buyers Sellers Buyers Sellers SMR CV 283.00 285.00N 285.00 287.00N SMS L 283.50 285.50N 285.50 287.50N SMR
      76 words
    • Article
      Rubber
      359 5 SINGAPORE: Rubber prices closed easier but off their earlier lows yesterday, dealers said. May 1 RSS buyer was quoted at 210.00 cents a kg, down one cent from Thursday's close. Dealers said prices rebounded slightly in the afternoon on weekend short-covering with higher Japanese rubber prices aiding sentiment. Trading
      359 words
    • Article
      Lock icon Crude Oil and Products
      183 5 Telerate FUEL OIL PRICES were steady to slightly firmer yesterday As expected, Iran's declaration of force majeure on HSFO had little effect on the market. Singapore's sellers' indications were heard at US$llO tonne cif Sing for May-June MSFO Two deals for CST- 180. 2 per cent
      Telerate  -  183 words
    • Article
      Palm Oil
      431 5 MALAYSIAN CRUDE PALM OIL FUTURES closed marginally higher in moderate trading on the Kuala Lumpur Commodity Exchange yesterday. Dealers said prices moved lower as trading progressed but short-covering towards the close and ahead of the weekend saw levels climb higher. Uncertainty over stock figures released early this week
      431 words
    • Article
      Produce Prices
      193 5 Chinese Produce Exchange SellerV noon doting prlo on Apr 21 (SS/100 kg) Coconut oil Bulk FOB 103.00 Old drum FOB 113.00 New drum FOB 117.00 Copra Mixed Doom) 61.00 tdltn Pepper Muntok whit* FOB NIW 660.00 Sarawak whit* FOB foq NIW 650.00 Sarawak special block FOB NIW 460.00
      193 words
    • Article
      Soybean & Wheat
      142 5 Soybean Wheat STRONG US cash prices and spreading work stoppages in Brazil supported nearby Chicago Board of Trade soybean futures, which closed higher on Thursday. May soybeans closed up 2-1/2 cents per bushel at U557.47-1/2 and new crop November was down one at 7.27-1/4. CBT soyproducts closed mostly higher, partially
      142 words
    • Article
      Precious Metals
      381 5 HONGKONG: Gold closed slightly firmer in quiet trading on buying by US and Australian investors yesterday Dealers said the easier US dollar, firmer crude oil prices and a market rumour that British interest rates may rise again encouraged buying. Bullion ended at US$3B5 20/70 an ounce against an
      381 words
    • Article
      London markets
      266 5 London Commodity Exchange Buyer/Seller closing prices on Apr 20 (£/tonne unless specified). Previous closing prices in parenthesis. Coffee Basis in-store London, sellers option CIF London Moy 1155/1160 (1145/1146) High/Low 1164/1148 July 1110/1113 (1097/1099) High/Low 1120/1100 Solas (2531) Cocoa May 745/747 (749/750) High/Low 751/743 My 763/764 (763/765) High/Low 764/755
      266 words
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  • WORLD MARKETS
    • Article, Illustration
      Lock icon Saab may seek alliance with Volvo
      760 6 Reuter SWEDEN'S Saab-Scania AB, facing a sharp fall in car sales, is rumoured to be seeking some form of alliance, possibly linking up with its perennial rival AB Volvo. Analysts agree on the industrial logic behind such a move, but in the absence of
      Reuter  -  760 words
    • Article
      Lock icon RJR Nabisco reports sharp drop in profits, in contrast to Philip Morris
      231 6 AFP FOOD AND TOBACCO giant RJR Nabisco has said its first quarter net earnings had slumped 62 per cent, blaming most of the drop on costs involved in its leveraged buyout in February by a group led by
      AFP  -  231 words
    • Article
      Lock icon Heineken close to acquiring Dutch brand
      245 6 Reuter DUTCH BREWER Heineken is close to agreement on the acquisition of smaller Dutch brewer Koninklijke Brand Bierbrouwerij of Wylre, Limburg. It gave no financial details. Heineken would bid in cash for all shares of unlisted Brand if the acquisition were to go through.
      Reuter  -  245 words
    • Article
      Lock icon General Motors posts strong gains for first quarter
      410 6 NYT GENERAL MOTORS Corp has posted robust first-quarter earnings of US$l.55 billion, a 42 per cent increase from a year earlier. Revenue in the quarter rose 12 per cent to U5529.6 billion. A significant reason for the jump in profit was a
      NYT  -  410 words
    • Article
      Lock icon NS expects small loss for first quarter
      403 6 Reuter NATIONAL SEMICONDUCTOR Corp president Charles Sporck has said he expects the company to report a small loss in the first quarter of fiscal 1990, but the company will be profitable by the second quarter. Mr Sporck said at a security analysts meeting
      Reuter  -  403 words
    • Article
      Lock icon EUROPEAN MARKETS ROUNDUP
      383 6 Reuter AMSTERDAM: Dutch share prices were oft their highs in quiet midsession trading yesterday as profit-taking eroded earlier gains, dealers said. The CBS all-share index slipped to 181.2 from a 182.0 morning high, but still above a 180.7 close. Solid 1988 corporate results supported shares as the
      Reuter  -  383 words
    • Article, Illustration
      Lock icon Late buying trims loss
      853 6 New York Reuter A SURPRISE INTEREST rate increase by the West German central bank helped to derail a recent Wall Street advance. But late buying allowed blue chips to recoup some losses, leading to a mildly lower close on Thursday. Further rises in oil prices also
      Reuter  -  853 words
    • Article, Illustration
      Lock icon Plessey clearance boosts stocks
      998 6 London Reuter LONDON SHARES received a welcome boost at the opening yesterday when the British Monopolies Commission conditionally approved the hostile £1.7 billion bid for Plessey by GEC and Siemens. The news helped the FTSE 100 up 6.3 points to 2.070.0 before edging back to 2,068.3
      Reuter  -  998 words
    • Article
      Untitled
      1283 6 Selected indices HONGKONG Hongkong Index Friday 2.055 87 Thursday 2.075 62 Week ago 2.040 37 Hang Seng Index Friday 3.109 23 Thursday 3.139 68 Week ogo 3.082 71 All Industrials Friday 2.3626 Thursday 2.389 5 Week ogo 2.313.4 NEW YORK Dow Jones Thursday 2.377 38 Wednesday 2.386 91 Week ago
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  • REGIONAL MARKETS
    • Article, Illustration
      Profit-taking forces shares lower
      1379 7 Hongkong LATE AFTERNOON profittaking halted a rebound in Hongkong stocks yesterday and forced the market sharply lower at the close, brokers said. "The market is trapped within a tight range and is not likely to break out in the short term," a broker with a European
      1,379 words
    • Article
      Lock icon Manila: 19-month high
      204 7 Reuter PHILIPPINE SHARES rose across the board yesterday to bring the main share index up to a new 19-month high, despite the ambush-killing of a US military officer in a Manila suburb, brokers said. The Manila Stock Exchange composite index rose 2.5 per cent to 981.85 points,
      Reuter  -  204 words
    • Article
      Seoul: Investor pessimism
      194 7 SEOUL STOCKS fell further on pessimism yesterday caused by a combination of tight liquidity, labour unrest and slow exports. brokers said. The composite stock index opened slightly above its previous close of 953.91, then drifted down 6.18 points in thin trading to 947.73 near the close. Turnover
      194 words
    • Article
      Lock icon New Zealand: Slightly lower
      198 7 Reuter THE NEW ZEALAND share market eased slightly in unexceptional trading yesterday, but closed 31.7 points up for the week. Brokers expect quiet trading next week because of the Anzac holiday on Tuesday and the likelihood that many participants will take Monday off as well. The
      Reuter  -  198 words
    • Article
      Lock icon Taipei: Close above 8,000
      448 7 Reuter THE TAIWANESE stock index fought off several bouts of profit-taking and closed firmly above 8,000 points yesterday for the first time since October, dealers said. The weighted index gained 137.18 points to finish at 8,065.85 compared with Thursday's 7,928.67. Turnover remained high at NT584.29 billion
      Reuter  -  448 words
    • Article
      Lock icon Bombay: Speculative buying
      195 7 Reuter BOMBAY share prices closed firmer after a hesitant start yesterday, boosted by heavy speculative buying on the last day of the current two-week account, brokers said. They noted that rumours that the government intended to remove price controls on steel triggered buying for the second day
      Reuter  -  195 words
    • Article
      Lock icon Bangkok: Index up
      26 7 Reuter THE Securities Exchange of Thailand Index rose 1.83 points to 484.91 yesterday on a turnover of 20.387,357 shares worth 1,121.57 million baht.
      Reuter  -  26 words
    • Article, Illustration
      Lock icon Stocks finish down
      587 7 Tokyo Reuter TOKYO share prices finished lower yesterday, but rqanaged to regain most of their early sharp losses. Yesterday followed the recent pattern of individuals taking the lead and institutions sitting on the sidelines. Trade was slow before the weekend and on interest rate and political worries.
      Reuter  -  587 words
    • Article, Illustration
      Lock icon Market ends easier
      557 7 Australia Reuter THE AUSTRALIAN share market was easier at the close of floor trading yesterday. reflecting lower closes overseas, brokers said. By 0515 GMT. the All Ordinaries Index had lost 7.6 points to 1,451.2. Brokers said the market reacted to losses on Wall Street, which fell 10
      Reuter  -  557 words
    • Article
      Lock icon Tokyo warrant prices to be made public
      555 7 Some 40 Eurodollar equity warrants will be involved Reuter THE BOARD of directors of the Japan Securities Dealers Association has decided the JSDA will make public from May 1 the average bid/offer prices of some 40 Eurodollar equity warrants issued by Japanese firms,
      Reuter  -  555 words
    • Article
      Lock icon Philippine Long Distance Telephone posts higher profits
      459 7 Reuter PHILIPPINE Long Distance Telephone Co has reported sharply higher profits for 1988. but analysts are divided over the outlook for the current year because of lingering tax problems. First Pacific Securities Inc said net profit will probably rise around 4 per cent
      Reuter  -  459 words
    • Article
      Lock icon Samsung shows interest in Aussie smelter
      195 7 Reuter SOUTH KOREA'S Samsung group has expressed interest in taking a stake in the Portland aluminium smelter, a Victoria state official said. "No formal offer has been made but they (Samsung) have held discussions with us to indicate their interest in the smelter business
      Reuter  -  195 words
    • Article
      Lock icon Ramada deal talks still on
      110 7 Reuter NEW WORLD Hotels (Holdings) Ltd and Prime Motor Inns Inc are still negotiating details of the deal that led to New World buying Ramada Inc's hotel business, an official involved in the talks has said. New World Development Co Ltd and New World Hotels
      Reuter  -  110 words
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  • SES
    • Article, Illustration
      Local blue chips bear brunt of profit-taking as share prices retreat
      772 8  -  by ANDREA BORCH THE LOCAL MARKET ended the week where it started, as investors took profits yesterday amid predictions of further consolidation. "The market is holding very firm,'' a dealer commented. "Some institutions made purchases, although many have cleared
      772 words
    • Article
      APPROVED ISSUES
      114 8 Company RIGHTS ISSUE 0 C Bonk One-for-two $075 per shore Ex dot*: Morch 9 Books dose: Morch 23 Acceptance Payment May 5 George Town Three-for-two $100 per shore Ex-dot*: Morch 13 Books dote Morch 26 Acceptance Payment May 12 Guthrie GTS Three-lor one of SO 20 shore JO
      114 words
    • Article
      PROPOSED ISSUES
      318 8 Company RIGHTS ISSUE Ayer Hitom Tin One-tor on* $1 10 per shore Berjaya Corpn One for one $1 00 por per shore C 1 Holdings 27 million loon stocks m 'he rotio of $3 loon stock lor every five ordtnory shares held Causeway Inw Issue of 17.252.937 nominal
      318 words
    • Article
      COMPANY MEETINGS
      446 8 UNITED INTERNATIONAL SECURITIES LTD: 19th AGM at the Board Room, 30th Storey, UOB Building, 1 Bonham Street, Singapore 0104, today at noon. RAHMAN HYDRAULIC TIN BHD: 77th AGM at the Penthouse, 19th Floor, Wisma Jerneh, 38 Jalan Sultan Ismail. ***** Kuala Lumpur, on Monday. April 24, at 10.30
      446 words
  • Article
    SES SHARE INFORMATION
    6060 8 Qr's Qr's 1989 Tel Last Vol Day Last Quote Dlv Dlv Y'ld Net M Cap High Low Code Company Sale or(•000) High Low Buyer Seller C'vr P/E Smll APR 21 SESDAQ 140 120 t 4000 Amtek Eng 20c 137 2 9 138 135 137 140 10.0N 7.1
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  • KLSE
    • Article, Illustration
      KL second liners in focus
      3647 9 SHARE PRICES on the Kuala Lumpur stock market finished mixed to steadier yesterday as buying alternated with profit-taking in another round of active trading. Dealers said the mixed sentiment was in line with performances on overseas markets. Interest, they added, appeared to focus on second-liners
      3,647 words
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  • COMPANIES & STOCK MARKETS
    • Article, Illustration
      Lock icon MPHB determining possibility of insider trading
      525 10 Bernama MULTI-PURPOSE Holdings Bhd (MPHB) is trying to determine whether there were any incidences of insider trading involved in the huge volume of transactions of both MPHB and Hume industries (M) Bhd's shares prior to the now muchpublicised takeover bid of MPHB by Hume.
      Bernama  -  525 words
    • Article
      COMPANY BRIEFS
      205 10 KUWAIT INVESTMENT OFFICE has sold one million Sime Darby Bhd shares. The shares were registered in the name of Malayan Banking Bhd's nominee arm Mayban (Nominees) Sdn Bhd. BOUSTEADCO't wholly-owned subsidiary, Boustead Marketing Management Services Re Ltd (BMMS), has acquired the remaining 40 per cent interest in Par
      205 words
    • Article
      Ming Court to take over running of hotel
      242 10 MING COURT Hotel Ltd, the publicly-listed hotel subsidiary of property tycoon Ng Teng Fong, intends to run the hotel itself. Ming Court said it has not renewed the management agreement with Ming Court Hotels International (MCHI) on the management and operation of
      242 words
    • Article
      KLSE reprimands MAA
      186 10 THE KUALA LUMPUR Stock Exchange (KLSE) has publicly reprimanded Malaysian Assurance Alliance Bhd (MAA) for breaching the exchange's listing requirements. KLSE executive chairman Nik Mohamed Din said in a statement yesterday that MAA had breached Sections 36 and 114 of the Listing Requirements by failing to announce
      186 words
    • Article
      HK broker in tie-up with UMBC Securities
      206 10 HONGKONG-BASED stockbroker ChinTung Holdings has entered into an agreement to buy a 30 per cent share in UMBC Securities in the second foreign-local broking firm tie-up in Malaysia. So far, the only other foreign partnership is between Seagroatt Campbell and W I Carr.
      206 words
    • Article, Illustration
      SES presses Singland to go ahead with Gateway deal
      528 10 THE STOCK Exchange of Singapore (SES) is putting pressure on Singapore Land to go ahead with the aborted Gateway Land transaction, especially since a conflict of interest is involved. In the latest exchange of letters and its sternest yet to Singland.
      528 words
    • Article, Illustration
      OCBC appoints vice-chairman and three new directors
      470 10  -  By KEVIN GWEE OVERSEA-CHINESE Banking Corporation Ltd has appointed a current director to the newly-cre-ated position of vice-chairman and three prominent personalities to sit on its board of directors. With immediate effect, the new vice-chairman of the bank is Mr Teo Cheng Guan
      470 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      1339 10 INDUSTRIAL£J COMMERCIAL FINANCE LIMITED INCORPORATED N THE REPUBLIC OF SINGAPORE) CAPITAL ANO RESERVES Share Capital (Note 10) Statutory reserve (Note 11) Revenue Reserves General reserve Retained profits SHAREHOLDER'S INTERESTS CURRENT LIABILITIES ANO PROVISIONS Fixed deposits, savings accounts and other deposits Fixed deposits of related companies Interesl payable Other creditors and
      1,339 words
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      Page 10 Advertisements Column 2
      2 10 Rnancial Newsmakers
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  • Executive Lifestyle
    • Article, Illustration
      'ARRO, 'ARRO
      2278 11  -  If it's become a habit to gravitate towards the TV set every Sunday about 9pm, chances are, you haven't said it just once: must watch 'Alio 'Alio!" JAIME LYE couldn't agree more, except that she's taken her enthusiasm one step further. Fuelled by news about Italian and Hongkong
      2,278 words
    • Article, Illustration
      They pay the piper but miss the tune
      655 11  -  With MARTIN SOONG THIS STARTED out as a concert review. But the more I thought about it. it was the audience, not so much West Coast reedman Ernie Watts, that left a greater impression on me. So, this story is more about
      655 words
    • Article
      STRAWS in the Wind
      210 11 AH. the smells of home. How we yearn for them when in a foreign clime, especially when they spell food. Still, we thought one desperate colleague had gone too far when she coughed, or rather sniffed, up HK$64 for ONE durian seed in Hongkong. And the
      210 words
    • Executive Lifestyle: Entertainment
      • Article, Illustration
        Reminders of pop music's Golden Years
        723 12  -  *!2fv Roger Loh YOU KNOW how it is. Every Mother's Day. it's either a bouquet of roses or dinner in a plush restaurant. Stiff textured broad ties for Father's Day. Try as we might, we can't seem to think of new gift ideas for
        723 words
    • Executive Lifestyle: Entertainment & Pursuits
      • Article, Illustration
        Visual feast at the annual Hannover fair
        462 13  -  ART By LIM SOON NEO "IT'S INCREDIBLE. It's so beautiful." a man standing in front of Henri Martin's Impressionist work of a young girl (La Bastide du Vert) breathed in awe. "Incredible", "beautiful" they were the most oft-used words to describe the recent
        462 words
      • Article, Illustration
        Starlagged
        361 13  -  ENCOUNTERS By SAMUEL EE LIKE A CLICHE from a Dashiell Hammet novel, it was a balmy and beautifully-clear night, but lo and behold! not a star was to be seen. A star of the celluloid variety, that is. The scene was the Casablanca restaurant, Monday night. No Bogie in
        361 words
      • Article, Illustration
        Not as easy as A, B, C
        902 14  -  HEALTH By RICHARD SEAH VITAMIN PILLS have come a long way from the early days of A, B and C. Now you have pills to pep you up or calm you down. Ward off colds and counter stress. Pills to help children study
        902 words
      • Article, Illustration
        The new wave from Italy
        735 15  -  N N K Yong ITALY, like France and Germany, has regulations controlling the quality and nomenclature of its wines. Wines that meet the 1963 statue requirements are known as Denominazione de Origine Controllata (DOC) wines. It is no secret that the DOC regulations were patterned
        735 words
      • Article
        pouf, pouf, passion
        475 15  -  FOOD By QUEK SWEE PENG THE PARTAKING of pudding is really not unlike that of romance. Irresistible, and at times irrational, both command and demand much attention. The thought of romance in itself is pleasurable. And the passion that ensues Perhaps some of us read too much
        475 words
      • Article, Illustration
        BILLBOARD
        1275 15 CINEMA: The Blob A 20th Century Fox horror movie. Midnight shows today at Cathay and Marina 1. Big Business Starring two of Hollywood's big names Lily Tomlin and Bette Midler. In a hilarious comedy about two sets of twins (Tomlin and Midler play double roles) who are mixed up
        1,275 words
      • Article, Illustration
        When a top player forgets third hand rule
        480 15  -  BRIDGE By SYBIL HOLLOWAY AN AMUSING story appeared in the December issue of the Australian Bridge magazine. Zia Mahmood, the well-known top international bridge player from Pakistan, tells this joke against himself from the Bicentennial Expo event: "Finally, Seamus Browne, my most
        480 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • Article, Illustration
        Cooking up a sizzling sex boiler
        501 16  -  CINEMA By SAMUEL EE A RECIPE for something Danger-ous-Ly Brazen Ingredients: One sex-filled novel disguised as a French classic One dozen powdered wigs At least 50 lavish period costumes (enough to win an Oscar) One freckled bosom (for the femme fatale) One roguish, alligator-faced
        501 words
      • Article, Illustration
        Envy and revenge in the world of spies
        405 16 BOOKS All The Grey Cats By Craig Thomas Fontana/Collins, 1988, £3.95 495 pages Reviewed by CHARLES SAVAGE CATS are in season from London to Sydney, and Craig Thomas is the latest artist to join in this burst of feline fancy. If his
        405 words
      • Article, Illustration
        Cross-country ride with two endearing characters
        485 16  -  By JAIME LYE FINALLY, a role for Robert De Niro that doesn't require him to put on weight (Raging Bull), speak through his nostrils (Godfather 2). or clap people over the head with baseball bats at the dinner table (The Untouchables). In Midnight Run,
        485 words
      • Article, Illustration
        Watch collectors make bids in time
        620 16  -  AUCTION By WILLIAM CHIA in Geneva A HOTLY-CONTESTED bidding is in progress. "200,000." "250,000." "300,000!" "350,000!" "He's bidding 350,000 against you, sir 350,000 for this gentleman's chronograph wrist watch. Any more bids?" The other bidder fails to go above 350,000 Swiss francs and the
        620 words
      • Article, Illustration
        Dinner in the manner of the Qing Court
        331 16  -  PARTIES By LAWRENCE TAN IF YOU MUST make a splash by throwing a private party, then Empress Place with its Qing antiques isn't a bad choice for style. As far as venues go, the one chosen by Conde Nast Traveler last Sunday
        331 words
      • Article, Illustration
        Tropical fiesta on Sentosa
        480 16 BIBLICAL BYBLOS Old Testament country. Tropical Byblos Sentosa, colourful cotton, muted linen and "bouncy" models. In what was dubbed a "Tropical Fiesta" on Sentosa, Byblos. the Italian fashion house, modestly presented its Spring/Summer '89 Collection. The show and a gala dinner were held to raise funds
        480 words
    • Executive Lifestyle: Sports
      • Article, Illustration
        Lock icon McEnroe, Edberg to clash in Japan Open semi-finals
        403 17 TENNIS AFP SWEDEN s Stefan Edberg has a chance to avenge a defeat by John McEnroe in Tokyo a year ago when he takes on the American today in the semi-finals of the U*****,500 Japan Open tennis championships. Edberg, crushed by McEnroe
        AFP  -  403 words
      • Article
        S'pore Davis squad asked to sign up for Epson tournament's qualifying round
        352 17  -  By A SURENDREN SINGAPORE'S DAVIS CUP squad have been asked to sign up for the Epson Super Grand Prix tennis open qualifying round which begins today. Graeme Plum, managing director of Australian Sports Marketing who are organisers of
        352 words
      • Article
        Lock icon Zvereva loses to Langrova in Eckerd Open
        285 17 AP EIGHTH-RANKED Natalia Zvereva suffered her second loss to a qualifier from Czechoslovakia in as many weeks when Petra Langrova upset her 6-4, 6-1 on Thursday in the second round of the Eckerd Open. Last week, Zvereva lost a second-round match to Regina
        AP  -  285 words
      • Article, Illustration
        Capacity field at Perak Derby tomorrow
        591 17  -  Oh TMCK With JEROME FANDOR A CAPACITY FIELD of 18 runners will line up at 4.05pm for the $200,000 Perak Derby in Ipoh tomorrow. Champion trainer Teh Choon Beng has five classy runners. The man they call "The Master", Ivan Allan, saddles just two.
        591 words
      • Article
        Yugoslav wins Spanish leg of World Cup
        222 17  -  CHESS By DEXTER LEE YUGOSLAV grandmaster Lubomir Ljubojevic pipped no less than world champion Garri Kasparov on Thursday to win the Spanish leg of the World Chess Cup. GM Ljubojevic hailed his victory in this 16-round tournament, held in Barcelona, as the best
        222 words
      • Article
        Lock icon Parnevik solves his putting problems
        336 17 GOLF AFP SWEDEN s Jesper Parnevik finally found his putting touch when he shot a 64 for a share of the first round lead in the Madrid open with fellow countryman Magnus Persson in Madrid on Thursday. The 24-year-old Parnevik, who won the qualifying school
        AFP  -  336 words
      • Article
        Lock icon Prost out for revenge
        221 17 MOTOR RACING Reuter FRENCHMAN Alain Prost, thwarted by clutch problems in last month's season-opening Brazilian Grand Prix, was seeking revenge yesterday when he drove his McLaren in opening practice for tomorrow's San Marino Grand Prix. Prost, second behind Briton Nigel Mansell in a Ferrari at Rio
        Reuter  -  221 words
      • Article
        Lock icon Five co-leaders at Greensboro
        485 17 AP DON SHIREY JR. an 11-year professional who twice had to requalify for the PGA Tour, shot a 3-under-par 69 to tie Tom Sieckmann, David Ogrin, Bill Glasson and Jim Booros for the firstround lead on Thursday in the US$l million Greater Greensboro Open tournament. While
        AP  -  485 words
      • Article
        Lock icon Bruckner, Bowman co-leaders
        136 17 AFP GREG BRUCKNER and Steve Bowman, both of the US, fired a four under par 68 each to share the first round lead in the 60 million yen (U*****,545) Dunlop International Open golf tournament on Thursday. Bowman rolled in six birdies against two bogeys, while Bruckner scored
        AFP  -  136 words
      • Article
        Lock icon New York Knicks scores decisive victory
        184 17 BASKETBALL AP MARK JACKSON scored 29 points and Eddie Lee Wilkins, starting in place of injured Patrick Ewing, had six during a 13-0 run at the start of the second half that carried the New York Knicks to a 137-117 victory over the Boston
        AP  -  184 words
    • Executive Lifestyle: Personal Investment
      • Article, Illustration
        Calls to reassess real estate investment trusts
        679 18  -  PROPERTY TRUSTS By LEE HAN SHIH SPURRED by developments across the Causeway, calls are. again being made in Singapore for a reassessment of the real estate investment trust (Reit) as an investment vehicle. In a recent paper*, three National University of Singapore lecturers
        679 words
      • Article
        Guide to condominiums available soon
        403 18 THE property market has long been awaiting a comprehensive guide to condominiums. In a phenomenon almost purely of the 1980s, the number of condominium units has mushroomed from 2,700 in 1979 to more than 22,000 last year. The first comprehensive guide to condominiums to be
        403 words
      • Article
        HK broker still bullish on property stocks
        160 18 WITH STOCK PRICES having risen, the trick is to look out for undervalued counters. Hong-kong-based broking house Cresvale is still bullish on property and suggests picking property stocks in Singapore that are currently trading at less than 1.3-1.5 times their revalued net tangible
        160 words
      • Article
        BROKERS' SHOICE
        160 18 strategic 360,000 sq ft plot of land in River Valley Road. This is about to become an important part of downtown Singapore with the redevelopment of the Tanjong Rhu and Kallang Basin, the river clean-up and the Clark Key Project designed to "gentrify" this area on the fringe
        160 words
      • Article
        Lock icon Is a currency overvalued? Check the Big Mac's price
        606 18 FOREIGN EXCHANGE The Economist THE ECONOMIST, the weekly British magazine, has updated its "McDonald s hamburger standard", introduced three years ago as a "ready reckoner of whether currencies are at their correct exchange rates". This simple measure is based on the
        The Economist  -  606 words
      • Article
        Lock icon Buy plantation stocks for medium term, says broker
        431 18 MBT THE PLANTATION sector is currently seeing a mismatch between economic and stock market factors, stockbroking firm Morgan Grenfell Asia and Partners said in its review. Although output has increased tremendously for palm oil, crude palm oil prices have remained firm with
        MBT  -  431 words
      • Article, Illustration
        Three months of good times ahead
        227 18  -  riin] a .lllllli b m U A SBBPU I Al II Mm K liirvjuMi'wi. M 1M Ww I irj'JkvmiH' WW w n w -By James See, Kim Eng Securities THE VOLUME of units transacted on the SES has practically doubled, on average, since the
        227 words
    • Executive Lifestyle: Letter to the Editor
      • Article, Illustration
        Please freeze or abolish levy on foreign maids
        170 19 D«ar Sir, The often-repeated rationale for the maid levy is that the presence of foreign maids would impact on society negatively. Such rationale has since been demolished by Mr Goh Chok Tongs remark that foreign maids do not impose on our social
        170 words
      • Article
        May we have the results early, please
        124 19  -  D W DISTANT Dear Sir, I was surprised at the very quick SBC response to my letter regarding the delayed broadcast ot certain Saturday, listed-company announcements which only got aired on SBCText the following Monday. Their reply (BT 8 April 1989) indicated that
        124 words
      • Article
        Ministry on half-tank ruling
        152 19  -  LIU TSUN KIE for Permanent Secretary Ministry of Finance Revenue Division Dear Sir, Please refer to the letter "On the half tank ruling" by D W Distant (BT Weekend Ed Apr 15-16 89). We would like to reassure your reader that the half-tank ruling will be
        152 words
      • Article
        How about a brand new car?
        61 19 Dear Sir, I refer to the letter to the editor of Mr D W Distant on the half-tank ruling in your weekend edition (15 April 1989). Maybe Mr DW Distant would like to suggest that the first prize of his suggested lucky draw be
        61 words
      • Article
        Telecom's lucky draw?
        107 19  -  D W DISTANT Dear Sir, Could Telecom Singapore let us know how their postal section manages to pick out, from the tonnes of mail from overseas, the envelopes that do not have sufficient postage affixed? Recently I was "taxed" for insufficient postage on a letter from Hongkong,
        107 words
      • Article
        Clarification from Inno-Pacific
        161 19 Dear Sir, We refer to your articles headlined "Bringing in the good contacts" and "Going on track for a bigger slice" in your 12 April 1989 edition of the Business Times, and wish to clarify the following: (A) Inno-Pacific Holdings Ltd Group's gearing after the Rights Issue
        161 words
      • Article
        Concern about control in the optical trade
        452 19  -  IVAN C BAPTIST Executive Secretary CASE Dear Sir, We refer to the recent press reports on bacterial contamination of saline solutions. Normal unpreserved saline is commonly used in contact lens practice. Despite the low cost, its sale is prevented in the United Kingdom,
        452 words
      • Article
        Love is fat that does not melt
        506 19 S5) Qatuhdhy 22ND APRIL, 1989 THERE IS A pertinent question to be asked on whether there are any realities outside social perceptions of those realities. Think of the physicality of love. As it is, for millions the world over, it is difficult to
        506 words
    • Article
      Bulk of Casa Jervois snapped up in five days
      385 20  -  Local buyers take up 80pc of residential project By LEE HAN SHIH, Property Correspondent LOCAL BUYERS snapped up about 80 per cent of a small residential project in Jervois Road within five days of its launch. Up till yesterday, only five
      385 words
    • Article
      Emotions run high on second day of hearing on HK's future
      584 20  -  By FOO CHOY PENG, Hongkong Correspondent ACCUSATIONS that Britain has failed to honour its promises to Hongkong residents four years after it signed a major pact on its future triggered a sharp exchange in a public hearing yesterday. A
      584 words
    • Article
      Lock icon Japanese firms looking to Asia
      171 20 AFP JAPANESE INVESTMENT overseas is moving away from industrial countries towards Asia as a growing number of small companies shift operations abroad to counter the stronger yen, a Japanese government report said yesterday. The Ministry of International Trade and Industry said in its annual report
      AFP  -  171 words
    • Article
      Lock icon Iran claims arrest of many US spies
      266 20 AP IRANIAN authorities have averted a coup d'etat in Iran, arresting a huge number of agents working for the United States. Iranian Parliamentary Speaker Ali Akbar Hashemi Rafsanjani said yesterday. Mr Rafsanjani, speaking at Friday prayers, said those arrested in the past few
      AP  -  266 words
    • Article, Illustration
      Lock icon US military official assassinated in Manila
      357 20 AFP THE FIRST-EVER assassination of a high-ranking US military officer in the Philippines yesterday raised speculation about a possible terrorist campaign in the Philippines, analysts in Manila said. While no group immediately took credit for the Manila ambush which killed army Colonel James Rowe,
      AFP  -  357 words
    • Article
      Lock icon New offshore oil area in China
      230 20 Reuter CHINA plans to open a virgin area of the East China Sea to foreign oil companies for exploration, an official of the China National Offshore Oil Corporation (CNOOC) said yesterday. "The East China Sea is one of the areas the foreign oil companies
      Reuter  -  230 words
    • Article
      Lock icon Aquino's press spokesman to quit
      68 20 Reuter THE PRESS spokesman of Philippine President Corazon Aquino announced yesterday he would resign from the middle of next month, saying he felt he no longer had Mrs Aquino's full trust Teodoro Benigno, a former correspondent with the French news agency Agence France Presse, told
      Reuter  -  68 words
    • Article
      Lock icon Jakarta ruling party rejects proposal on election of next president
      353 20 Bernama INDONESIA'S ruling party Golkar has rejected a proposal to establish a special consensus body to elect President Suharto's successor if there are more than one candidate for the top executive post Golkar chairman Wahono said in a special interview
      Bernama  -  353 words
    • Article
      Lock icon 'Manufacturing to retain key role in M'sian economy'
      251 20 Bernama MANUFACTURING will continue to be the key sector in the Malaysian economy in the first half of this year with an expected M 5444.1 million increase in gross revenue to M 512.873 billion, the Statistics Department's latest half-yearly business expectations survey
      Bernama  -  251 words
    • Article
      Lock icon MCA and DAP announce candidates for Bentong by-election
      151 20 Bernama PAHANG state executive councillor Datuk Lim Ah Lek, 48, will be the Barisan Nasional candidate in the Bentong parliamentary by-election. Transport Minister and MCA president Datuk Seri Dr Ling Liong Sik announced the candidate after a meeting of the MCA central
      Bernama  -  151 words
    • Article
      Lock icon Johor may develop Pagoh for industry
      128 20 Bernama THE Johor government is looking for a suitable site in Pagoh near Muar to be developed into a new industrial site, Mentri Besar Tan Sri Haji Muhyiddin Yassin said. Speaking at a dialogue with the people in the Bakri parliamentary constituency yesterday, he
      Bernama  -  128 words
    • Article
      Lock icon Comex gold and silver
      97 20 Reuter COMEX GOLD futures eased on early selling linked to concern that Nymex crude oil prices may react sharply lower after Thursday's surge to three-year highs. June gold lost US$l.lO at U*****.20 an ounce, cutting into Thursday night's oil-spurred gain of US$2.2O. Comex silver futures also
      Reuter  -  97 words
    • LATE FILE
      • Article
        Lock icon French firm wins PUB contract
        62 20 AFP FRENCH firm CGEE-Alsthom has won a 115-million-French franc (US$lB-million) contract to provide generating equipment for the Singapore Public Utilities Board's planned conventional power station at Pulau Seraya. The unit, which is due to come on stream from May 1991, comprises three sections of 250
        AFP  -  62 words
      • Article
        Lock icon Talks soon on East Timor
        44 20 AP PORTUGAL has asked the United Nations to mediate talks with Indonesia on the disputed Asian territory of East Timor, Portuguese officials said. The talks will take place soon in New York, although no date has been fixed AP
        AP  -  44 words
      • Article
        Lock icon Takeshita should go: poll
        38 20 AP MORE than one-third of the ruling Liberal Democratic Party members in Japan's parliament think Prime Minister Noboru Takeshita should resign soon because of the Recruit bribery scandal, according to a newspaper survey. AP
        AP  -  38 words
      • Article
        Lock icon Seoul economy loses steam
        49 20 Reuter STRIKES, currency appreciation and wage rises are reining in South Korea's galloping economic growth, with first-quarter gross national product rising only an estimated five per cent, a government researcher said. This compares with 15.2 per cent GNP growth in the same 1988 period.— Reuter
        Reuter  -  49 words
      • Article
        Lock icon Drexel no longer market maker
        49 20 AFP THE British subsidiary of scandal-hit US investment bank Drexel Burnham Lambert said it would no longer act as a 'market-maker' in shares on the London Stock Exchange. Drexel Burnham Securities previously set buy and sell prices for some 60 issues on the exchange.
        AFP  -  49 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      136 11 W A h\S The new Delirium bracelet watch in 18-carat gold with diiimonds for Lulies arid men. A mere two point nine-five millimeters thin. Exquisitely engineered; perfectly integrated. Water-resistant. Available only at specially authorised watch retailers jewellers. AUTHORISED DEALERS SINGAPORE: Asia Watch (Partway Parade). Chew Cheong Watch Centre (Shaw Centre
      136 words
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  • Page 12 Miscellaneous
    • Miscellaneous
      Page 12 Miscellaneous Column 1
      1617 12 SLOTS TO WATCH Answers for acrobat and gongfu fighter MOVIES The Serpent's Egg, Today, 10.30pm, Channel 5 Don't be fooled by the Chinese-movie-sounding title. This is actually a 1969 Dino de Laurentis production, starring David Carradine and Liv Ullmann, about an unemployed circus acrobat's temporary job in a clinic. Set
      1,617 words
    • Miscellaneous
      Page 12 Miscellaneous Column 2
      1254 12 SATURDAY BBC 88.9 mHz In VHF Band II 6AM Newshour. 7.00 World News 7.00 Commentary. 7.15 From The Weeklies. 7.30 Multitrack 3. 8.00 Newsdesk 8.30 Personal View 8.45 Recording of the Week. 9.00 News Summary followed by Outlook 9.25 Financial News 9.30 Life Along the Line 9.45 Book Choice 9.45
      1,254 words
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  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      180 13 I >: :h___ f, f B-vJK* SSISS J<ii': ,X-«s. l 1 MONDAY? «■> ~C A Or Tuesday? Wednesday? Or later in the week? We wouldn't be surprised if she's wondering the same thing. Well, here's your chance to make a good impression. By Then tell her that our Inn of
      180 words
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  • Page 14 Advertisements
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      Page 14 Advertisements Column 1
      694 14 u Where to entertain. 1 ONE GOOD REASON TO LUNCH AT THE PALM GRILL IS OUR APPETISER BUFFET ANOTHER IS THE CHOICE OF MAIN COURSES. PALM Mm For between $26++ and $40 you can select from our appetiser VjKILL buffet including seafood, smoked salmon and oysters. Choose from many lavish
      694 words
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      Page 14 Advertisements Column 2
      175 14 9 Treat your secretary to a delectable 4 course lunch C", and fashion spectacular as only The Stables can do it. There'll be gifts for one and\ all, plus a chance to win valuable prizes in our Lucky Draw. """""Tynnch i Se 4 VZzSST lntert F«»hi on D^w^TiTop,n ■tXi Orrtuurl
      175 words
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  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      216 15 Ib 8 ji C'< a Sunday Brunch: A great family outing It'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 and
      216 words
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      Page 15 Advertisements Column 2
      108 15 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. k! ■J !f' T>\ > lV 8y H. KE 'i'-• i Sfft &Jt¥ ft I 1 IXI St/A, •J&1 .j' l(a vH KJ P Nr. 4
      108 words
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  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      135 17 f s m f FEATURES: Computerized Fitness Programming for Men Women includes Goals. Exercise. Nutrition and Stress Management Lifecycles Liferower Stair Master Versa Climber Eagle Fitness Equipment Ivanco StarTrac 2000 Treadmills Lockerrooms Steam Sauna Pool Towels provided TV Video Sports Fitness VDO Library Business Seminar VDO Library Jogging Groups. Marathon
      135 words
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  • Page 18 Advertisements
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      Page 18 Advertisements Column 1
      49 18 SOTHEBY'S FOUNDED 1744 Chinese Ceramics Works Of Art Property Of The British Rail Pension Fund 16th May 1989 Hong Kong m .j-mr Large Copper-red Decorated Early Ming Bowl Estimate HK$&B Million For Enquiries Contact SOTHEBY'S Singapore Branch No.l Cuscadenßoad #01-07 The Regent Singapore Singapore 1024 Fax» 737-0295 Tel, 732-8239
      49 words
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  • Page 19 Advertisements
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      Page 19 Advertisements Column 1
      45 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 pseudonym, if you wish. Address your letters to: The Editor, Business Times, 390, Kim Seng Road, Singapore 0923. a
      45 words
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      Page 19 Advertisements Column 2
      118 19 THEIR PHONES STOPPED MWMatM RINGING The effectiveness of advertising in Business Times has been proven yet again. Mr Mo Xiao Hul and Mr Albert Adam of M V Marketing Pte Ltd Jointly placed an advertisement in the Business Times on January 12 13,1989, to attract investment entrepreneurs and property buyers.
      118 words
  • Page 19 Miscellaneous
    • Miscellaneous
      Page 19 Miscellaneous Column 1
      806 19 |BriStc*nFa2tfcl&te£ VoO CAM'T SPyV -THPa no use Pulling Rny PONCM£S SPIV Gkpctly LOHPfT VOO me^M.... uefwe mo Room for Doubt. > PeRsOyJfMLV FiND TH€>/ mofce moticc if i FfcicK ny WD SIGH lis) k &LOOD w usTeN, ip YOO'RG GOiMGtO MS\T(E. Ps Business Lerreß rrvs Got to e>e roßceruL wo
      806 words
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  • Page 20 Advertisements
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      Page 20 Advertisements Column 1
      114 20 Singapore's a Financial f Supermarket YEARS OF GROWTH THE EMERGENCE of Singapore as a financial centre began in 1968 with the launch of the Asian dollar market. This local pride, which deals in foreign currencies, turns 21 this year. To commemorate this special occasion, BT's 1989 Banking and Finance Supplement
      114 words