The Business Times, 29 July 1989

Microfilm: NL16672
Total Pages: 24
1 24 The Business Times
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  • Title Section
    Masthead
    12 1 BUSINESS TIMES MCI (P) 45/12/88 Weekend Edition, July 29-30 1989 75 CENTS
    12 words
  • Article
    S'pore-based banks doing brisk Indonesian business
    480 1  -  INDON BANKS SEEKING ALTERNATE SOURCES OF FUNDS HERE By QUAK HIANG WHAI SINGAPORE-BASED banks are enjoying a brisk business arranging loan packages for Indonesian banks and companies, following Jakarta's sweeping economic and financial reforms last October. Three Indonesian banks Bank Rakyat Indonesia, Bank Bumi
    480 words
  • Article
    UOB gets verbal okay from Jakarta
    314 1  -  By HONG LEE THIAM UNITED Overseas Bank (UOB) has received a verbal approval to set up a joint-venture bank in Jakarta, making it the first Singapore bank to have full banking operations in Indonesia in more than 20 years. BT understands that the verbal
    314 words
  • Article
    Lock icon Taiwan set to open US dollar interbank market
    326 1 Reuter TAIWAN is to open a US dollar interbank centre as part of the country's efforts to internationalise its financial market, the Central Bank said yesterday. Central Bank governor Samuel Hsieh said the bank would provide US dollars for the initial operations
    Reuter  -  326 words
  • Article
    HK looking at safeguards for buy-back of shares
    471 1  -  By FOO CHOY PENG LISTED companies in Hongkong may be able to buy back their own shares if adequate safeguards for investors can be worked out, the head of the Securities and Futures Commission (SFC) said yesterday. "The SFC has no objection
    471 words
  • Article
    Lock icon Profits slump at Lloyds after debt provision
    183 1 Reuter INCREASED PROVISIONS against Third World debt has caused a huge slump in pre-tax profit of Britain's fourth biggest bank, Lloyds Bank pic, in the first half of 1969. After setting aside funds for potential losses on loans to developing countries, pre-tax profit
    Reuter  -  183 words
  • Article
    Lock icon DOW JONES
    44 1 Reuter US BLUE CHIP issues sagged slightly on profit-taking early yesterday after a gain of around 50 points in the prior two sessions, traders said. The Dow was down five at 2631. Advancing issues held a narrow lead over declining shares. Reuter
    Reuter  -  44 words
  • Article
    Lock icon FOOTSIE
    41 1 AP LONDON ahare prices were higher at midday yesterday with the market still encouraged by Wall Street's Thursday gain and healthy futuree-related buying. At about 1115 GMT, the Financial Times-Stock Exchange 100-ahare index was up 10.6 points at 2,294.9. AP
    AP  -  41 words
  • Article, Illustration
    Regional stock markets close mixed
    241 1 REGIONAL MARKETS cloaad mixed yaatarday with ahara prices in Hongkong making tha most headway. In Singapore, lata bargain hunting steadied ahara pricea with the Straits Times Industrials Index closing 3.78 points higher at 1,370.14. The Busineaa Times Composite Index rose 5.04 points to 1,248.61. Rises
    241 words
  • Article
    FINANCIAL NEWS SUMMARY
    154 1 Slock hdhw Friday ST Industrial* Max 1,370.14( 378) IT Comport* Index 1,248.61 5.04 NST Industrial Index 2^53J0(-1.37) HK Hang Seng Index 2,***** 3104) Tokyo Nftkei Average *****.63 (-79A5 Sydney Ai-Ordbtories (-1.0 Dwndoy New York (Dow Jones) 2,635-431 22.38 London (FT 30 Index) 1,902.5<+ 167) US$. 139.40 yen
    154 words
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      Page 1 Advertisements Column 1
      267 1 TtwWtortd'sßnMt Photographic Syattm. I Look Ma, no goats! (or toxins) One k; Page What The Good Samaritan didn't do Page Two The Flame of the Forest Page Three Three Graves superstars Page Four Two nights with the Met Page Five Oldies for trendies Page Six Art 'Give peace a chance'
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      Page 1 Advertisements Column 2
      225 1 TTwWbrid'sßoMt PhOoytpWe Full report, PAGE Regional Mkts, PAGE 10 World Mkts, PAGE 11 MDM .LA MONTRE OIS MORTRES LA MONTRE OES MONTRES "T-. I LA MONTRE OES MONTRES LA MONTRE DES MONTREt s GEN EVE Time is divided into two parts: before and after Hublot \%J Time is no longer
      225 words
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  • HOME NEWS
    • Article
      'Property boom may be prolonged'
      462 2  -  By LILIAN ANG THE HONGKONG factor may prolong the boom period in the real estate market although based on an analysis of property cycles, the peak should be in 1991. This observation was made yesterday by Mr Willy Shee, executive director of Richard Ellis, when
      462 words
    • Article
      After quantity, now quality
      465 2  -  URA SALES PROGRAMME MUST BE READILY MODIFIED By ROSIE TAN FUTURE policies of the Urban Redevelopment Authority (URA) will be directed at refining and improving the quality of Singapore's urban centre and urban way of life, now that many basic issues have been resolved. Mr Yuen
      465 words
    • Article
      Rules for MP's secretarial support finalised
      163 2 RULES governing the employment of secretarial support for Members of Parliament have been finalised. In March, First Deputy Prime Minister Goh Chok Tong announced that MPs would be able to claim reimbursement of up to $750 a month to defray the wages of a
      163 words
    • Article
      Corrections and clarifications
      62 2 IN YESTERDAY S BT story on development guide plans, the map of Simpang on Page Two was labelled "to be reclaimed" around the Pulau Seletar area. The Ministry of National Development has clarified that the reclamation profile has not been decided yet. The private sector team working
      62 words
    • Article, Illustration
      More serious tone for The New Paper
      432 2  -  By ABDUL HADHI THE NEW PAPER, now one year old, is to take on a more serious tone and will be distributed more widely. Surveys show that the newspaper's readers tend to have more active lifestyles than the general population. They tend to
      432 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      244 2 WORMALD International (S) Re Ltd has appointed MIKE TENG as general manager, NO KHIM KIONG as manager major projects, WU CHUNG SHOU as finance and administration manager, ANDREW GOH as operations manager and NEO HUI UN as accountant. Mr Teng has held senior management positions in oil
      244 words
    • Article
      Call to vary development charge rate
      266 2 THE DEVELOPMENT charge rate should be varied, depending on the nature and situation of the project and the state of the property market, a consultant suggested yesterday. Mr Philip Motha, chairman of Philip Motha Consultancy, said although the proposal would mean more careful investigations
      266 words
    • Article
      Thai unionists here to reach out to illegal workers
      238 2 VISITING UNION leaders from four Thai labour organisations will visit about a dozen work sites as well as the haunt of Thai workers over the next several days. Their mission: to try and reach remaining Thai illegal workers before the final
      238 words
    • Article
      Electricity, gas rates increase expected to hit heavy users
      178 2 MANUFACTURERS and hoteliers are among the heavy users of gas and electricity who are girding themselves for a profit squeeze when electricity and gas rates increase next month. The Public Utilities Board (PUB) announced yesterday that electricity tariffs will increase by
      178 words
    • Article
      Export club set up to boost marketing of food and beverage
      127 2 SINGAPORE food and beverage exporters are gearing up to capture a larger share of the food and beverage market overseas. Industry members in the Singapore Manufacturers' Association yesterday set up a food and beverage export marketing club to meet
      127 words
    • Article
      Youths must be effective agents of change: BG Lee
      419 2  -  By SHOEB KAGDA TO EXPLOIT the opportunities that the future may offer, today s youth must be effective agents of change, not victims of circumstances, said the Minister for Trade and Industry, BrigadierGeneral Lee Hsien Loong yesterday. He was delivering a
      419 words
    • Article
      Ministry to upgrade nursing profession
      300 2 NURSING is no longer a vocation. but a profession, and in line with that, the Health Ministry plans to upgrade nurses' training programmes to raise their professional calibre. The ministry has already put into place two plans to upgrade the profession, said Acting Minister of
      300 words
    • Article
      SHIPS IN PORT
      1218 2 AT CONVENTIONAL WHARVES VhnI Vey No Berth Arrival Departure Kappel Wharves Arrow King 2404 CIO alongside 2907/0400 Boob Ulloh 20/06 KI8 alongside 28.07/ 1300 Equator I8/89W <20 alongside 28 07/ 1530 Equator 5 I8/89E K20 alongside 29 07/ 0700 K Bobiyevski 05 NB KI7 olongside 2807/ 1500
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  • FOREIGN NEWS
    • Article, Illustration
      Lock icon China blames Zhao for disastrous inflation
      538 3 Reuter CHINA yesterday launched a stinging attack on advocates of fast economic growth through inflation, a clear reference to deposed Communist Party chief Zhao Ziyang, now blamed for a litany of policy errors. In a front-page editorial, the Economic Daily said inflation in recent
      Reuter  -  538 words
    • Article
      Lock icon NZ's anti-inflationary budget comes under fire
      386 3 Reuter NEW ZEALAND Finance Minister David Caygill has unveiled a Jxjdget to fight inflation and balance the books but opponents, both right and left, accused him of doing little to help the unemployed or haul New Zealand out of deep recession. "This budget will
      Reuter  -  386 words
    • Article, Illustration
      Lock icon Dotting the eyes and painting the lips
      96 3 HARUMIINUI (left), elected from Rengo (Confederation), a new labour-based group, smiles with a Daruma doll with her likeness at her campaign office in Tokushima, In the south-west of Japan, after winning a Parliamentary election on Sunday. It Is traditional for successful election candidates
      AP Picture  -  96 words
    • Article
      Lock icon EC ministers agree on trade and aid package for ACP
      315 3 Reuter THE EUROPEAN COMMUNITY (EC) has agreed on a new offer to a major grouping of developing nations on a new five-year trade and aid pact between the two, EC diplomats said. EC ministers had earlier failed to come up
      Reuter  -  315 words
    • Article
      Lock icon No more major reshuffles until 1992: Thatcher
      105 3 Reuter BRITISH Prime Minister Margaret Thatcher, after making the biggest cabinet shake-up of her 10-year rule, has ruled out any more major reshuffles before the next general election, newspaper reports said yesterday. The Times and the Daily Telegraph said Mrs Thatcher had told
      Reuter  -  105 words
    • Article
      Lock icon Rafsanjani looks poised to be next Iranian president
      353 3 Reuter PARLIAMENTARY Speaker Ali Akbar Hashemi Rafsanjani was poised to become Iran's fourth and most powerful president in voting yesterday that the clergy intended to be evidence of Iran's peaceful transition to the postKhomeini era. Some 26,000 polling stations across Iran were
      Reuter  -  353 words
    • Article
      Lock icon Soviet economic growth falling well behind targets
      402 3 OFFICIAL FIGURES SHOW INFLATION SPIRALLING Reuter SOVIET economic growth is falling well behind planned targets for 1989 with wages racing ahead of productivity and pushing the country into an inflationary spiral, official figures released on Thursday showed. According to the figures, covering the
      Reuter  -  402 words
    • Article
      Lock icon Cocom trade controls still vital: US
      247 3 Reuter THE UNITED STATES will keep clamps on high technology exports despite political reform in the Soviet Union and other Warsaw Pact countries, a senior US official said. "There is a continuing need to deny Moscow technology which could enhance its military capacity or
      Reuter  -  247 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      981 3 ARRIVALS Operator Sorvico Local From number time SU soon 0040 LAX/NPT KAL KE697 0155 sa TMA TL351B 0430 BEY/SHJ/KUL MAA SU SQ409 0520 UC IC555 0655 MAA (XH LH788 0700 FXA/AUH SU SQ407 0740 DEL SU SQ023 0755 AMS/ZRH SU SQ411 0800 BOM MAS MH640 0820 KUL
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    • Article
      Lock icon Bonn businessmen unhappy with govt
      142 3 Reuter CHANCELLOR Helmut Kohl's government has suffered a huge drop in confidence among West German business leaders this year, according to an opinion poll published on Thursday. Seventy-one per cent of senior managers said they did not think Mr Kohl's centre-right coalition was strong enough,
      Reuter  -  142 words
    • Article
      Lock icon Thatcher lashes back at France on monetary union
      387 3 AFP BRITISH Prime Minister Margaret Thatcher, in a scathing response to criticism from French President Francois Mitterrand on London's policies on European monetary union, said in London on Thursday it was France and not Britain which was isolated at the last EC
      AFP  -  387 words
    • Article
      Lock icon UK railway workers suspend strike and accept pay increase
      255 3 AP BRITISH railway workers' leaders on Thursday night suspended a series of paralysing one-day strikes and accepted an 8.8-per cent wage increase from staterun British Rail. A London subway drivers' dispute over pay and conditions will continue. Jimmy Knapp, general secretary
      AP  -  255 words
    • Article
      Lock icon Unemployment to drop to 7pc this year: OECD
      507 4 Major reform programmes suggested AFP UNEMPLOYMENT in Western industrial states and Japan is expected to decline to an eight-year low of 7 per cent of the labour force this year, but could rebound to about 7.25 per cent next year, the OECD
      AFP  -  507 words
    • Article
      Lock icon 'Japanese growth to continue in 1990s'
      123 4 AFP JAPAN'S economy will continue to grow in the *****, maintaining 4.8-per-cent annual growth in real terms, a think tank predicted on Thursday. The Research Institute on the National Economy in Tokyo, known for its bold predictions, said in a report that Japan's gross
      AFP  -  123 words
    • Article, Illustration
      Lock icon Nissan's US workers vote to keep union out
      421 4 AP WORKERS at Nissan's only US plant rejected making it the first fully-owned Japanese car plant organised by the United Auto Workers, officials announced in Smyrna, Tennessee on Thursday. The National Labour Relations Board said that 1,622 votes were cast against the
      AP  -  421 words
    • Article
      Lock icon Religious 'terrorists' threaten vital Fiji industry
      463 4 AFP FIJI'S main export industry, sugar, worth an annual US$l5O million, is under attack from religious "terrorists" demanding observance of the Christian sabbath, according to sugar officials in Suva. "We've been targets of terrorist attacks," said Fiji Sugar Corporation chairman Lyle Cupit, referring to
      AFP  -  463 words
    • Article
      Lock icon Threatening letters sent to Japanese consulates general
      315 4 AFP THE Japanese Foreign Ministry has revealed that Japanese consulates general in Shengyang and Hongkong have received letters threatening to kill Japanese nationals in China and the British colony in revenge for the Japanese military's wartime slaughter. The three blackmail letters two sent
      AFP  -  315 words
    • Article
      Lock icon Gatt head appeals for more progress in Uruguay Round
      433 4 Reuter THE HEAD of the General Agreement on Tariffs and Trade (Gatt), announcing that the far-reaching Uruguay Round of trade negotiations would end in Brussels late next year, appealed on Thursday for concerted efforts to make more progress. "The process is
      Reuter  -  433 words
    • Article
      Lock icon Three Asian nations clumping telephone equipment, says US Commerce Dept
      330 4 AP THE US Commerce Department says a preliminary investigation shows manufacturers in Japan, Taiwan and South Korea are selling small-business telephone equipment in the United States at prices far below their fair value. In a preliminary finding that could lead
      AP  -  330 words
    • Article
      Lock icon Japanese beef importers warned
      195 4 AP THE Japanese Fair Trade Commission has warned beef importers to break up an illegal cartel, officials said on Thursday. After a nearly year-long investigation, the FTC announced that an illegal cartel had been formed by the Beef Importers' Council, to which 36 major trading houses
      AP  -  195 words
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      Page 4 Advertisements Column 1
      87 4 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS <0 Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. k Plus an occasional look
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  • Page 4 Miscellaneous
    • Miscellaneous
      Page 4 Miscellaneous Column 1
      106 4 \aaawa m V///> m. Global temperatures and weather conditions on July 27 City Max/ Note Singapore Madrid Manila Mexico City Miami Montreal Moscow Nassau New Delhi New York Nicosia Oslo Paris Perth Rio 'Janeiro Rome San Fris'co San Juan Santiago Seoul Stockholm Sydney Taipei Tokyo Toronto Vancouver Vienna Warsaw Doonesbury
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  • BANKING AND FINANCE
    • Article
      Lock icon Banks unwilling to finance new HK airport
      517 5 Reuter '"PRIVATE SECTOR banks are unwilling to finance Hongkong's -ambitious plans for a second sirport without guarantees from the .government because of lack of confidence induced by China's ,/uthless suppression of the prodemocracy movement. Hongkong has come to rely "on the private sector
      Reuter  -  517 words
    • Article
      Lock icon Swap market activity up sharply
      193 5 Reuter GLOBAL SWAP MARKET activity increased sharply in the second half of 1988 compared with the period a year ago, bolstered by a rise in interest-rate according to the International Swap Dealers Association. In its semi-annual industry survey, the trade group reported that during the
      Reuter  -  193 words
    • Article
      Lock icon Fed seen more aggressive in avoiding recession
      285 5 Reuter THE US Federal Reserve s recent behaviour suggests it may have become willing to act more aggressively in averting recession, economists say. In a surprisingly quick 2% weeks, the Fed has driven down the Federal Funds rate, the rate banks charge each
      Reuter  -  285 words
    • Article
      Remaining Simex seats snapped up
      452 5  -  By SOH TIANG KENG THE REMAINING 55 of the 100 seats offered by the Singapore International Monetary Exchange (Simex) two years ago have been snapped up in a ballot conducted by the exchange on Thursday. Simex trading circles told BT that mounting speculation in recent
      452 words
    • Article
      Lock icon Switzerland, EC sign insurance accord
      333 5 Reuter SWITZERLAND and the European Community (EC) have agreed to ease regulations for each other's insurance companies, according to the Swiss Economics Ministry. The accord, which requires approval by the Swiss and European Parliaments, will allow Swiss and EC insurers to conduct non-life business in
      Reuter  -  333 words
  • COMMODITIES
    • Article
      Lock icon Wheat
      137 5 Reuter CBT soft red winter (SRW) wheat futures rallied in sympathy with the persistent strength in corn and Soybeans on Thursday, 'Closing 114 to six US cents per bushel higher despite iinitial sales by two local commission houses. J Persistent drought concerns about the North Daikota and Canadian spring
      Reuter  -  137 words
    • Article
      Produce Prices
      179 5 Chinese Produce FOB NSW 180.00 Exchange FAMA Sellers' noon dosing prices on Closing prices on July 28 July 28 (Sl/100 kg) Coconut oil Coconut oil (M$/100kg) New drums 150.00 Bulk FOB 199.00 2nd hand drums 144.00 Old drum FOB 109.00 Bulk 135.00 New drum FOB 113.00 Local in
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    • Article
      Lock icon Soybean
      132 5 Reuter CBT soybean futures J closed with gains of 3% to •6% US cents per bushel on J Thursday, led by August i which settled at US$6.6B on J the growing belief that tight supplies will severely limit initial deliveries next week. 1 CBT soymeal futures [finished strong, with
      Reuter  -  132 words
    • Article
      London markets
      275 5 London OF UK/Rotterdam Coth 9725/9735 Commodity •Exchange Jon/Mar 322.5 Apr/Jun 327.5 pd Aug/Sep 305 3-momht (9715/9725) 9710/9720 (9700/9705) Buyer/Seller Oct/Dec 315 S#ttl4nwtf 9720 (9717) dosing prices Jon/Mar 325*lr Tonei Soi#* (1221) i on July 27 (£/tonne unless M'lian RBD FOB Lead {specified). Previous closing i prices in parenthesis.
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    • Article
      Lock icon Crude Oil and Products
      146 5 Telerate FUEL OIL PRICES remained steady yesterday. The overall market bearishness had little impact in Sing HSFO prices due to the stable HSFO market fundamentals. A few selling interest were seen for Aug CST- 180 at $95-6 mt FOB Sing. Savaral 1 st-half Aug Yanbu Jvbail
      Telerate  -  146 words
    • Article
      Precious Metals
      333 5 HONGKONG: Gold closed easier in quiet and thin afternoon trade yesterday. Australian and local selling pushed the metal to a day low of U*****.80/372.30 an ounce. Dealers said they expect gold to trade between US$369 and US$374 later in New York. Bullion ended at U*****.00/50 an ounce against
      333 words
    • Article
      KL Tin
      127 5 CONTMUED CONSUMERS' demand held the Kuala Lumpur Tin Marfcat (KLTM) prtca steady aI Mt2S.fi a kg at Sm cfoaa yesterday. Tha marfcat Ignored I ondon Metal Exchanga'a (LME) oeelnoss, nottoy kvthaf ihofl covering Ifow Europaan and fifraf traders who look Iha 131 tonnoo on odor, up from Thursday's
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    • Article
      Palm Oil
      552 5 Prices higher MALAYSIAN CRUDE PALM OIL prices closed higher on light covering and speculative buying yesterday, aided by gains in palm oil futures. India's palm olein purchase at its weekly tender on Thursday lent some support, but the market still lacked supportive fundamentals to rebound strongly from recent
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    • Article
      Rubber
      316 5 SMGAPORE: Rubber prices yesterday cloeed slightly steadier with August One RSS buyer quoted at 177.50 cents a kg, up 1.50 cent from Thursday's close. Profit-taking emerged in the afternoon and partially pared the morning's gains in thin trade. On the TSR-20 Award market, prices rose further in the afternoon
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    • Article
      RAS and MRELB
      308 5 RAS prices intc ante/kg, FOB In bok W NOON aosc Iwyors SoMori 8uyors Setter* In* 1 RSS Prompt 1784)0 179.00 178.50 179 JON In* 1 RSS Aug 177.00 177 JO 177 JO 178JON In* 1 RSS Sop 178.25 178^5 ***** 179.75N Int 2 RSS Of 175 JO
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    • Article
      SSR and SMR
      78 5 (canh/kg) AUGUST 1989 SEPTEMMR 1989 (currant month) (forwoi rd month) RAS NOON tuyan Saltan NOON Irnn Satan SSt 30 151-50 153J0N 153.00 154.00N SSt 30 149 JO 151 JON 150.00 152J00N MRELB Saltan Satan SMt CV 337JO 339JON 339JO 331 JON SMt L 338-50 330JON 330J0 233JON
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  • MONEY AND EXCHANGES
    • Article
      Lock icon Euro$ higher on GNP data
      538 6 BA Futures SEPTEMBER EURODOLLAR futures yesterday opened 16 ticks higher than the previous Simex close at 9172 on signs of slower US economic growth following weaker-than-expected 1.7 per cent second-quarter US GNP growth. Prices edged to the day's low at 9165 on heavy profit-taking following
      BA Futures  -  538 words
    • Article
      IMM
      196 6 IMM currency futures, despite an early advance, continued to slide throughout Thursday and closed mostly lower. A shortcovering rally in the dollar, apparently fuelled by renewed demand, undermined sentiment. Currency futures rose early on news the US economy expanded by 1.7 per cent which was below forecasts for 2
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    • Article
      Forex markets
      699 6 SINGAPORE: The US dollar traded within a narrow range in the Aaian market yesterday: D-mark 1 8700/1 8755, yen 139.88/139.30, sterling 1.6577/1.6525 and 551.9573/1.9560. Down under, the AS came under selling pressure on rumours that the country's debt rating will be downgraded. It lost almost one cent against
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    • Article
      Asian $ market
      267 6 Asian market ASIAN DOLLAR deposit rates ended unchanged at opening levels yesterday, but lower compared with Thursday s close. Short-dates and term rates lost 1/16 to point at the outset due to a weaker US federal funds rate and firmer bond prices. Weekend and weekfixed closed at 9 8% per
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    • Article
      Money markets
      61 6 THE OVERNIGHT rate on the Singapore money market closed point higher at sfc per cent yesterday. Term rates were all unchanged at SK-5K per cent. S$ Interbank rates at the dose y*st«rdayi OWH UO Oomr- S 1/4 S 1/» iHMMh 3 1/4 3 l/» 2—on* 3 1/4 3
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    • Article
      Government Securities Market
      103 6 Treasury bills Period Issue Yesterday's dosing Day's code Maturity MO orm HK5H LOW 3 —ta R*****9V 26.10.89 3.98 3.93 3.94 3^8 6 mattu BS*****V 18.01.90 4J09 444 4.05 4.01 1 yoor BY891 OOf 24.05.90 4.19 4.14 Government notes and bonds Period Issue Maturity Coupon Yesterday's dosing Day's
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    • Article, Illustration
      World interest rates
      169 6 'UMM fIM Wmyi of prtm* iMNoi 11 h rpora Interbank market ratee (offer/bid) on July 28 uss DM SWFC Y«l 6ay% f 7/9 13 7ft— 13 3/4 13/14 13/14 7 3/14 1/14 3 7/14 3/14 mil 15/1* 13/14 >3 7/» 13 3/4 4 15/14 13/14 7-47/1 3
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    • Article
      Options
      1032 6 CURRENCY FUTURES OPTIONS Friday, July 28, 1989 DEUTSCHEMARK (StMEX) 1 Mgti topOOeaOa Lav •m 0e0 M0| )«puh Low 0a0 52 30 53 63 54 115 Friday, July 28, 1989 JAPANESE YEN (8IMEX) HM !< 1 I j 1 1 1 Sal 75 310 CURRENCY FUTURES OPTIONS IMA Thundoy, July
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      Page 6 Advertisements Column 1
      103 6 FOR BITS AND BYTES Geared to keep the busy business executive abreast of new technologies he can exploit to full advantage, the TECHNOLOGY page provides news, reviews and features in the areas of information technology, biotechnology, electronics and just about everything high-tech. Although its primary focus is on local news,
      103 words
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  • COMPANIES & STOCK MARKETS
    • Article, Illustration
      Lock icon Eyebrows raised over Time-UEM deal
      580 7 mm™ By HOCK LOCK SIEW THROUGH a series of deft manoeuvres, Umno-backed private company Hatibudi Nominees has achieved a corporate coup that is likely to stir up political and business controversy. Smallish listed company Time Engineering Bhd announced a deal earlier this week that will
      By HOCK LOCK SIEW  -  580 words
    • Article, Illustration
      Lock icon Berjaya in talks with KLSE on acquiring shares in Sports Toto
      556 7 Purchase will push stake beyond listing limit MBT BERJAYA CORPORATION is holding discussions with the Kuala Lumpur Stock Exchange (KLSE) on acquiring of shares in Sports Toto Malaysia which will increase its effective interest in the gaming company from
      MBT  -  556 words
    • Article
      Lock icon Inter-Pacific expects M$89m profit
      285 7 Bernama INTER-PACIFIC Industrial Group Bhd, formerly known as Raleigh Bhd, ia expected to make an extraordinary profit of M 589.2 million from the proposed disposal of its shares in Sports Toto Malaysia Bhd. For the group, an extraordinary profit of M 529.3 million ia alao expected
      Bernama  -  285 words
    • Article
      APPROVED ISSUES
      275 7 Company RIGHTS ISSUE Berjaya Corpn One-forone <Q M$I 30 per shore Ex-dot* July 21 Books dose: Aug 4 Acceptance Payment: NYA Chuon Hup One-for-two unsecured floating rates notes with one TS* at )l.06 per shar Ex-date: June 9 Books dose: June 21 Acceptance Payment: July 31 Hotel Prop
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    • Article
      PROPOSED ISSUES
      268 7 Company RIGHTS ISSUE Alcorn Capital reduction from M$8I.56 to M$I63Ii* through a write down of M$l par value to M$020. followed by the consolidation of five of the 20-sen shore into one share of M$l each Rights issue of three-for-one M$080 Ayer Hitam Tin One-for-three $1.30 per shore.
      268 words
    • Article
      SNP interim profits jump 33pc
      317 7 SINGAPORE National Printers Ltd has reported a 33per cent jump in group attributable profit to $1.25 million for the six months ended June 30. The improved performance came on the back of an improved turnover of $18.91 million, 14 per cent higher than the $16.59
      317 words
    • Article
      Polytek Wearnes aims for main board listing
      350 7 SESDAQ-listed Polytek Wearnes Holdings, which made its debut only last November, intends to apply for a main board listing as soon as it is appropriate. In its first annual report chairman Sze Chin Chiu said Polytek Wearnes already satisfied the capital criteria laid
      350 words
    • Article
      Focal Finance posts $1.09m interim profit
      62 7 FOCAL FINANCE, the result of a merger between International Trust Finance and Forward Oversea Credit Ltd on Jan 3. has reported an after-tax profit of $1.09 million for the six months ended June 1969. This represents a one per cent fall from the $1.11
      62 words
    • Article
      Renong confirms talks over stake in company
      395 7  -  By WILLIAM CHIA PROPERTY-BASED investment company Renong Bhd has confirmed that it is negotiating with several parties intending to take a stake in the company. It was reported earlier this week that Renong was likely to be taken over by a group with
      395 words
    • Article
      Lock icon Sime Darby streamlining land-bank holdings with buy, sell transactions
      446 7 MBT. CONGLOMERATE Sime Darby Bhd ia streamlining the group's land-bank holdings through a series of property buy-and-sell transactions worth over M 562.50 million. Four companies in the Sime Darby stable 51 per centowned Sime UEP Properties, wholly owned Subang Jaya Medical
      MBT.  -  446 words
    • Article
      Lock icon Approval for managing PT Guru
      206 7 Bernama. THE SIME DARBY group haa been given approval by the Indonesian Investment Coordinating Board to manage PT Guru Corrugated Box Manufacturing Company in Jakarta. Philip Wong, managing director of Sime Packaging Singapore who will oversee the operations, ssid in Jsksrta ysstsrdsy ths Sims Darby
      Bernama.  -  206 words
    • Article, Illustration
      Lock icon Hooker Corp sends team to US to head off foreclosure
      497 7 AP FINANCIALLY-STRAPPED Hooker Corp has ruled out selling off US$l.B billion in assets and has sent s team to the United States to head off foreclosure by US creditors. Hooker, a major Australian property company with significant interests in the
      AP  -  497 words
    • SES
      • Article, Illustration
        Late round of bargain-hunting sends prices slightly higher
        1130 8  -  -by HERMAN PHUA AFTER MOVING sideways for 1 most of the day, share prices on the local stock market closed marginally higher following a late round of bargain-hunting. The Straits Times Industrials Index fluctuated within a narrow band throughout the day, closing
        1,130 words
      • Article
        Unit trusts
        307 8 Managers' prices OCBC-SJMBL Investment MARA-Bumiputra Funds (NTA) for July 29 31 Sav*n Capital Fund 107 1 12 first B'putra 740 7.45 At*an Fund 200 (Juty 20 US$11 28 Sav*rs Trust Fund 106 III S*cond B'putra 679 684 Donna Jopon Fund (July 271 *9.706 Singapore Unit Trust Ttvird B'putra
        307 words
      • Article
        COMPANY MEETINGS
        49 8 KEPPEL FINANCE LIMITED: EGM at the Board Room, 325 Tel ok Blangah Road, Singapore 0409, today at 10.30 am. MOUNT PLEASURE HOLDINGS BERHAD: 28th AGM at Miami 111 Hall. Ferringhi Beach Hotel, 12.5 km Batu Ferringhi Road. ***** Batu Ferringhi, Penang. on July 31. Monday, at 11am.
        49 words
    • Article
      SES SHARE INFORMATION
      5995 8 1989 High Low Tol Codo Compowy Loot Solo JUL 21 OTVol rooo) Day High Low I Lae! On luyer S IOIO slier Gr-a D*v Dhr C*vr Or 1 rid Net P/E M Cop 9n* DEBENTURES, ONOS, LOANS 284 45* 87)4 66 72 96 18 58* 97 99
      5,995 words
    • KLSE
      • Article, Illustration
        Moderate trading in KL
        3508 9 SHARE PRICES on the Kuala Lumpur stock market ended mixed yesterday in moderate trading. Brokers said third-liners were well sought but higher-priced issues turned quiet with many closing unchanged at overnight levels. Blue chips were also neglected Situational counters which surfaced two sessions ago continued to
        3,508 words
    • REGIONAL MARKETS
      • Article
        Lock icon 'Nomura has lost some of its clout'
        813 10 MARKET SHARE OF HEAVYWEIGHT HAS DWINDLED Reuter NOMURA SECURITIES Co Ltd. the heavyweight of Japan's securities industry, may be losing its punch, some analysts say. "Nomura no longer controls the market as it used to," said Craig Chudler, a market strategist at Smith
        Reuter  -  813 words
      • Article
        Lock icon Komatsu to buy West German machinery maker Hanomag
        346 10 Reuter WEST GERMAN construction-ma-chinery maker Hanomag AG, which earlier this month disclosed merger talks with unidentified European and Asian firms, is to be acquired by Japanese construction equipment maker Komatsu Ltd, a Hanomag shareholder said. Mr Guenther Papenburg, who owns 32 per
        Reuter  -  346 words
      • Article
        Lock icon Hitachi to transfer chip technology to Goldstar
        549 10 Reuter HITACHI LTD has agreed to transfer semiconductor technology to Goldstar Co Ltd of South Korea, its latest move aimed at winning the advanced memorychip sweepstakes, industry analysts said. Hitachi agreed to license know-how and to loan engineers to help Goldstar Semiconductor Ltd
        Reuter  -  549 words
      • Article
        Lock icon Elders forced to postpone float decision
        334 10 Reuter AUSTRALIAN corporation Elders (XL has been forced to postpone any decision to float its huge international brewing business until at least next year. Elders chairman and chief executive John Elliott on Thursday told a shareholders' meeting uncertainty over British brewing industry regulation made
        Reuter  -  334 words
      • Article, Illustration
        Lock icon Easier close
        519 10 Tokyo Reuter INVESTORS pocketed profits most of the day, leaving share prices on the Tokyo market to close easier in moderate trade after rising sharply at the open. Brokers said they welcomed a breather. "The market is very healthy." said Warren Primhak, trader for Baring Securities (Japan) Ltd.
        Reuter  -  519 words
      • Article, Illustration
        Lock icon Stocks end mixed
        522 10 Sydney Reuter THE Australian share market closed mixed yesterday with the country's continuing high interest rates a depressant, dealers said. The All Ordinaries Index closed one point lower at 1,626.5. Dealers said the market was boosted by trade in options due to expire at the end of
        Reuter  -  522 words
      • Article, Illustration
        Prices close up sharply
        1293 10 Hongkong SIQNS of a revival in the Hongkong property market pushed share prices up sharpty yesterday to end at the day's high, brokers said. The Hang Seng index rose 33.04, or 1.33 per cent, to 2,526.75. The Hong Kong index was up 21.41 to 1,066.53. Turnover
        1,293 words
      • Article
        Lock icon Bangkok: Profit-taking
        195 10 Reuter THAJ stocks closed slightly lower across the board on moderate profit-taking yesterday ahead of the weekend, brokers said. The SET Index lost 0.89 to close at 627.55. Losses outnumbered gains 63 to 39. Most active were TRT Garment, Padaeng Industry and Royal Orchid Hotel. "Profit-taking was spread
        Reuter  -  195 words
      • Article
        Lock icon Bombay: Shares fall
        168 10 Reuter BOMBAY share prices fell for the second day on further heavy selling yesterday, as Prime -Minister Rajiv Gandhi's government continued to face opposition attacks over a controversial arms deal, brokers said. Mr Gandhi has rejected opposition calls to quit after an official auditor reported irregularities in
        Reuter  -  168 words
      • Article
        Lock icon Manila: New 23-month high
        202 10 Reuter PHILIPPINE shares yesterday posted their biggest single day aggregate gains in months as investors' confidence continued to fuel a market rally, brokers said. "I think this is it We are in a real bull market,'* said analyst Roy Nicolas of Belson Securities Inc. Prices rose
        Reuter  -  202 words
      • Article
        Lock icon Taipei: Strong buying
        362 10 Reuter STRONG BUYING by investors pushed Taiwanese share prices sharply higher yesterday after the index jumped above 9,000 points in early trade, brokers said. The weighted index rose 102.01 points, or 1.14 per cent, to close at 9,047.65 against Thursday's 8,945.64 finish. Turnover climbed to NT591.86 billion
        Reuter  -  362 words
      • Article
        Lock icon New Zealand: Firmer
        98 10 Reuter NEW ZEALAND share prices were marginally firmer yesterday after Thursday night's budget announcement, with the Barclays Index gaining 0.89 point to 1,978.97. "There was a feeling that it (the budget) was neutral to positive for the share market, but buyers were not prepared to push prices,"
        Reuter  -  98 words
      • Article
        Lock icon Seoul: Institutional buying
        182 10 Reuter SEOUL STOCKS recovered on institutional buying yesterday after falling in early trading on the news of Thursday's Korean Air Line crash in Tripoli and on reports a typhoon is moving towards South Korea, brokers said. The composite stock index rose 4.74 points to 897.45. Volume was
        Reuter  -  182 words
    • WORLD MARKETS
      • Article, Illustration
        Lock icon Strong gain with volume to boot
        880 11 New York Reuter WALL STREET stocks soared to a new post-crash closing high on Thursday, powered by takeover fever in pharmaceutical shares and by the growing belief that interest rates are heading lower, analysts said. "There were some real fireworks," said market strategist Hugh
        Reuter  -  880 words
      • Article, Illustration
        Lock icon Firm opening for equities
        983 11 London Reuter LONDON share prices opened firm in quiet business yesterday helped by a rally on Wall Street, which surged to another post-crash high on a growing belief that US interest rates are heading lower. Dealers said this week's Confederation of British Industry survey, showing a
        Reuter  -  983 words
      • Article
        Lock icon EUROPEAN MARKETS ROUNDUP
        1468 11 Reuter MILAN: Italian shares ended the week stable yesterday near Thursday's levels in fair volume focused on the insurance sector, brokers said. The MIB index ended unchanged at 1,144, up four points on the week. Position squaring ahead of the summer holiday period dominated the session. The
        Reuter  -  1,468 words
      • Article
        Lock icon Bristol-Myers and Squibb to merge in US$12.3b deal
        678 11 Merger creates world's second-largest pharmaceutical company NYT BRISTOL-MYERS Co and the Squibb Corp have agreed to merge in a deal that would create the second-largest pharmaceutical company in the world. Bristol-Myers is known for over-the-counter products like Excedrin and Bufferin pain relievers,
        NYT  -  678 words
      • Article
        Lock icon SmithKline Beecham expects to post earnings growth in excess of 15pc
        537 11 Reuter PHARMACEUTICAL group SmithKline Beecham pic is expected to be able to produce sustainable earnings per share growth in excess of the 15 per cent a year which share analysts consider Beecham alone could make. Chief executive Robert Bauman
        Reuter  -  537 words
      • Article
        Lock icon ICI sees opportunities in Asia-Pacific
        336 11 Reuter IMPERIAL Chemical Industries pic said it sees major opportunities in the Asia-Pacific region, which it forecasts will account for 40 per cent of the growth in the world chemicals industry in the next five years. "We now have the muscle and the determination to
        Reuter  -  336 words
      • Article
        Lock icon BAT accused of using private detectives
        230 11 Reuter BRITISH TYCOON Sir James Goldsmith, who is making a hostile bid for tobacco and financial services giant BAT Industries pic, has accused BAT of using private detectives to fend it off. Anglo Group and its subsidiary Hoylake Investments Ltd. the takeover vehicles of
        Reuter  -  230 words
    • Article
      'Vietnam must not get away with trickery at conference'
      536 12  -  By BOEY KIT YIN SINGAPORE would prefer an inconclusive end to the International Conference on Cambodia to one one which leaves Hanoibacked Premier Hun Sen in power in Phnom Penh, Foreign Minister Wong Kan Seng said yesterday. In remarks released before
      536 words
    • Article
      JIM results are not binding, reiterates Thailand
      392 12 Thailand has reiterated its Stnd that results from the two karta Informal Meetings are non-binding. The Bangkok Post yesterday quoted Thai Foreign Minister Siddhi Savetsila as having said that by stating its position in response to the second French memorandum on the International
      392 words
    • Article
      Lock icon Factions agree on seating arrangement
      283 12 Agencies THE CAMBODIAN groups agreed on Thursday on a seating arrangement for their representatives at next week's International Conference on Cambodia, French officials said. Officials of the Vietnamesebacked Cambodian government and the three resistance groups that form a coalition reached a compromise during a meeting
      Agencies  -  283 words
    • Article
      Lock icon Philippine Senate blocks dropping of Sabah claim
      238 12 AFP PHILIPPINE senators yesterday maintained their opposition to formally dropping the country's claim to Sabah in spite of President Corazon Aquino's insistence. Senators who called on Mrs Aquino, who expects to meet Malaysian Prime Minister Datuk Seri Dr Mahathir Mohammad at an informal
      AFP  -  238 words
    • Article
      Lock icon Japan's current account surplus shrank further in June
      196 12 AFP JAPAN'S trade and current account surpluses shrank for the fourth consecutive month in June as brisk domestic demand continued to stimulate import growth, the Finance Ministry said yesterday. The current account surplus, measuring trade in goods, services and certain transfers, narrowed
      AFP  -  196 words
    • Article
      Lock icon Hashimoto's chances to be Japan's new PM strengthening
      230 12 Reuter FORMER Deputy Prime Minister Shin Kanemaru, 75, took himself out of consideration to be Japan's next prime minister yesterday, strengthening the chance that an unusually young politician, Ryutaro Hashimoto, will reach the nation's highest office. Mr Hashimoto, 51, is secre-tary-general of
      Reuter  -  230 words
    • Article
      PSA invests more to cater to demand
      429 12  -  Productivity of workers up 26pc in first quarter By JEAN FOONG TO COPE with fast growing container traffic, the Port of Singapore Authority is spending some $87 million on upgrading its port facilities and another $240 million on container handling equipment. These additional
      429 words
    • Article
      Suntec to put more in convention centre
      305 12 By ROSIE TAN SUNTEC City Development, the developer of the prestigious $1.2 billion Singapore International Convention and Exhibition Centre at Marina Centre, is raising its investments in the project to $1.95 billion and considering a possible listing on the Singapore stock exchange. According
      305 words
    • Article
      Lock icon Widespread sales of DAT machines possible by next year
      338 12 Reuter WIDESPREAD sales of digital audio tape recorders (DAT) may begin early next year under an agreement announced yesterday. The agreement calls on governments to endorse a new DAT standard that permits direct recording of compact discs (CDs) but limits subsequent
      Reuter  -  338 words
    • Article
      Lock icon GSTP seen as G-77's most tangible trade achievement
      204 12 Bernama A NEW TRADE system known as the Global System of Trade Preferences (QSTP) has become the moat tangible achievement in liberaliaing and promoting trade among the Group of 77 developing countries. Deli M Hashim, deputy secre-tary-general of Malaysia's Ministry of Foreign
      Bernama  -  204 words
    • Article
      Comex gold
      87 12 COMEX gold futures dropped on technical ly-guided liquidation that was aggravated early yesterdsy morning by the latest erosion in silver prices. In a nervous market, spot August fell US$4.OO at U*****.70 an ounce, after spiking through s batch of automatic sell-stops at U*****.00. December gold lost US$4.2O at
      87 words
    • LATE FILE
      • Article
        Lock icon India to resume troops pull-out
        61 12 AFP INDIA will today resume pulling out its 45,000 peacekeeping troops from Sri Lanka, it was announced in Colombo yesterday, ending a nearly two-month-long diplomatic row between the two nations. The announcement was made in a joint communique signed by Indian High Commissioner to Colombo
        AFP  -  61 words
      • Article
        Lock icon Hongkong economy slowing
        58 12 Reuter AFTER nearly three years of rapid growth, the overheated Hongkong economy entered the downswing of the business cycle early this year, a trend exacerbated by unreet in China, the Hang Seng Bank Ltd said. As a result, GDP growth forecasts for 1989 have been lowered to
        Reuter  -  58 words
      • Article
        Lock icon Thai forecast revised
        63 12 Reuter THE BANK of Thailand said that Thai gross domestic product would grow a real 9.7 per cent in 1969 against the 8 per cent it had projected early this year and 11 per cent in 1968. A spokesman said that the higher OOP growth forecast was
        Reuter  -  63 words
      • Article
        Lock icon Australia reports surplus
        48 12 AFP AUSTRALIA'S government managed a surplus of A 55.9 billion (US$4.4 billion) for the financial year to last June 30, a senior government minister said yesterday. Treasurer Paul Keating had forecast in his budget last August a surplus of A 55.47 billion (US$4.l billion). AFP
        AFP  -  48 words
      • Article
        Lock icon French trade deficit falls
        29 12 AFP FRANCE'S seasonally-correc-ted trade deficit improved in June, falling to 2.8 billion francs (US$226 million) from the May figure of 6.7 billion francs (US$l.O6 billion).
        AFP  -  29 words
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      Page 11 Advertisements Column 1
      201 11 NOTICES IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF ASSOCIATED IMPORTERS (S) PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN pursuant to Section 308 of the Companies Act, Cap. 50, that a Final Meeting of the Members of
      201 words
    • Advertisement
      Page 11 Advertisements Column 2
      255 11 OFFICIAL NOTICE PROPOSAL TO I CHANGE OF SHIP'S NAME 4 We Tanoto Guan Hyi Manufacturing (Pte) Ltd of 7500 A Beach Road #11-363, The Plaza. Singapore 0719 hereby give notice that in consequence of o*r purchase a dumb barge from Hydro Power Limited of 4403 Hopewell Hong Kong. We have
      255 words
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      Page 12 Advertisements Column 1
      110 12 The silver report was not aviiiaiMf prtii ofnt. FOR WHO, WHAT, WHERE AND WHEN 'f-Tl 111 ft A i ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and
      110 words
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  • Executive Lifestyle
    • Article
      STRAWS in the Wind
      430 13 SO WHEN exactly does the glow of youth give way to the grace of age? It was rather hard to tell at the recent NTUC-organised second International Con- federation of Free Trade Unions/Asia Pacific Regional Organisation youth rally. With their balding pates and greying locks, a
      430 words
    • Article, Illustration
      Lock icon Look Ma, no goats! (or toxins)
      1328 13  -  Ahhhhh, fresh airrr, sunshine and mosquitoes. If you could pack it all in, and stay in the Bukit Timah forest reserve, would you? Richard Seah, who writes on health for Executive Lifestyle, says it's not necessary and has started a magazine that has much
      Photo by Alphonso Chan  -  1,328 words
    • Article, Illustration
      Farewell to the navigator
      710 13  -  With A SURENDREN tHERE I WAS, running through oil palm estate for help clearing undergrowth and vaulttrig over harvested fruit, all the while hoping that a large cobra wouldn't skulk out of the bushes and mistake me for an hors (foeuvre. I was looking for Tarzan,
      710 words
    • Commentary
      • Article, Illustration
        What The Good Samaritan didn't do
        1146 14  -  RICHARD SEAH AS VOLUNTEER MONTH draws to a close, it might be useful to reflect on perhaps the greatest and best known of volunteers The Good Samaritan. His story, found in the Bible, has been related many times before. Christians, especially, are apt to
        1,146 words
      • Article
        Time ripe to lower commission charges?
        335 14  -  Letters te the Editor ONG ENG CHENG Dear Sir Since the introduction of the "CLOB" (Central Limit Order Book) system by the Stock Exchange of Singapore, daily trading volume has increased greatly, and is now easily twice or even thrice the average daily volume
        335 words
      • Article
        Foreign maid: It's a case of willing-buyer, willing-seller
        314 14  -  HENRY TAN Dear Sir In BT's Forum of 22 July 1989 I recalled the appeal made by "Homemaker" on 27 May 1969 to the Minister for Labour to abolish or freeze the foreign-maid levy on the ground that it was initiated on
        314 words
      • Article
        Informative, timely annual reports, please
        361 14 Dear Sir I refer to the article "Annual reports: reading between the lines" published in the Spotlight on Management column on 17 July 1989 Stock market investors like myself often find it frustrating reading annual reports as the published financial results provide out of date
        361 words
      • Article
        Pan-El: How long must I wait?
        172 14  -  PAN-WATCHER Dear Sir, Almost five years have now gone by since the collapse of Pan-Electric. The CAID has recently handed $46 million to the Liquidators and considers the case closed. The Liquidators now seem to be content to be sitting back and watching the
        172 words
      • Article
        Figures for Visa's basic, supplementary cardholders
        214 14 Dear Sir With reference to your reporter's article entitled, "Visa has largest share of credit card market: survey", which appeared in the Business Times on July 18, 1989, we would like to state that the figures cited for Visa's basic cardholder base and that
        214 words
      • Article
        Illegal immigrants: Why all is not well
        522 14  -  JIMMY TAN Dear Sir I object to your editorial of July 19th, 1969. There has been a tendency for the newspapers to excuse the culpability of the government in the illegal immigrants ("II") mess. At the moment our foreign workers permit system and
        522 words
      • Article
        Oei & Roxy: We will keep you posted
        256 14 Oei Roxy: We will keep you posted Dear Sir It was rumoured that Mr Oei Hong Leong, president and chief executive of UIC Group, had recently purchased a block of 10 million "Roxy Electric" shares at a price of M 51.48 per share in the market. Is this true? If
        256 words
      • Article
        Fortress Europe: One of many options
        523 14  -  ROLF J LANGHAMMER Dear Sir Being a guest researcher at the Institute of Southeast Asian Studies in Singapore for two months, I would like an opportunity to elaborate on some aspects of the European Single Market which I raised in the interview with Mr
        523 words
      • Article
        Inter-Bank Giro: Check with billing bodies
        353 14  -  BASSKARAN NAIR Vice President Public Affairs Dear Sir We would like to thank Mr Manmohan Singh (BT. Letter to the Editor. 22 July) for the opportunity to further clarify, in addition to our own correspondence with him, how the InterBank Giro (IBG) works Under
        353 words
    • Executive Lifestyle: Pursuits
      • Article, Illustration
        The Flame of the Forest
        223 15  -  SAMUEL EE goes on location to a movie set to watch a tale of lust and passion unfold, Bombay style. In a steamy potboiler guaranteed to fog your specs and spice up your masala, Battacharya Film Studios turn on the heat and ignite... SAMUEL EE
        223 words
      • Article, Illustration
        Health before wealth
        632 15  -  by Martin Soong RICHARD SEAH is a man with a mission and his new magazine, The Good Life, will be his voice. According to Richard, existing health publications and health sections of magazines focus mostly on medicine and nutrition, which is a very Western point of view.
        632 words
      • Article, Illustration
        Three Graves superstars and their wines
        851 16  -  b* N K YONG LAST WEEK, this column brought you on a tour of the splendid wine region of Graves in France. Here, we present three of its finest offerings. CHATEAU HAUT-BRION, Prmmlmr Cru Cl—— The only Graves property to be included in the
        851 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • Article
        Lock icon Czar's wines to be auctioned at Sotheby's
        285 17  -  By MOLLY O'NEILL NYT SOTHEBY'S of London has announced that a cache of 13,000 bottles of wine from Massandra, once the personal cellar of Czar Nicholas 11, is to be sold at auction in London in March 1990. The auction will include 24
        NYT  -  285 words
      • Article, Illustration
        Two nights with the Met
        413 17  -  OPERA By TAN KEE WEE THERE is no running from the fact that the venue of musical productions can be crucial to their success, not to mention their favourable impression on the audience. Rome's Teatro dell' Opera's open-air summer production of opera and ballet is
        413 words
      • Article, Illustration
        BILLBOARD
        1222 17  -  Compiled by JUANITA SHAKILA STAGE PERFORMANCES: Singapore Drama FaaHval 'St. See accompanying table for programme. Concart By Slngapora Youth Orchaatra. The world premiere of Sojourn written by American composer John Sharpiey will be performed by the Singapore Youth Orchestra under the baton of resident conductor Vivien Qoh. Performance is
        1,222 words
      • Article
        DRAMA FESTIVAL 1898 – MAIN PROGRAMME
        323 17 DRAMA FESTIVAL 1898 MAIN PROGRAMME ENGLISH Group Play Dates/venue Theatre Works Metamorphose by Steven Berkoff 24 Aug 8 pm 25 Aug-8 pm 26 Aug-8 pm 27 Aug-3pm, 8pm Drama Cenfre Practice Theatre TheSrty Utfle Girl 12 Aug-8 pm Ensemble and The Furry Old Tree 13 Aug-3 pm,8pm byKuoPaoKun Victoria Theatre
        323 words
      • Article
        FRINGE PROGRAMMES
        84 17 The performance* will be held at the Shell (S), DBS (D) an PUB (P) Auditoriums at 1130 pm: The Trial of Ivy Png July 28 (S), July 31 (D) 4 Aug 1 (P) Suitcase Aug 1 (S), Aug 7 (D) Aug 8 (P) Green Socks -Aug 11 (S),
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    • Executive Lifestyle: Entertainment & Pursuits
      • Article, Illustration
        Getting away with a take-out double
        454 18  -  BRIDGE By SYBIL HOLLOWAY A TAKE-OUT double on 7 hep, vulnerable against non-vulnera-ble? That ia what my partner did on board No 18 of the Epson contest after hearing a two-spade acol opening bid by east and we got away with it (1) Partner,
        454 words
      • Article, Illustration
        Lock icon Oldies for trendies
        716 18  -  NOSTALGIA By DAVID CHEW THEY were dressed for the 80s but there to relive the 50s and 60s. There they were, a motley crowd of executives in very unhippy hairstyles, set to rock with the lot at Bibi's first-ever Down Memory Lane Party last Monday. Local variations
        Picture by AUNDRY GAN  -  716 words
      • Article, Illustration
        Adding a Princely touch to Batman
        935 18 SOUNDTRACK: Batman (Warner Brothers) Prince extends his frivolous pop-funk contortions with almost careless abandon on this soundtrack as if he were mocking his detractors. It's really an odd choice for the singer/composer considering that this is neither a new Prince release nor the official
        935 words
      • SHORT TAKES
        • Article
          For health nuts: HDL good LDL bad
          210 18 GOOD NEWS for health nuts out there: not all cholesterol is harmful. According to Dr Basil M Rifkind, there are two types of cholesterol LDL and HDL, or Low Density Lipoproteins and High Density Lipoproteins. HDL is the "good" type. The American doctor
          210 words
        • Article
          Not your usual chicken wings-and-curry party fare
          225 18 IF YOUR next party menu starts off with chicken wings, mee siam and curry, and your 13-year-old nephew is slated to be entertainment manager, it's time to do a re-think. Good Fun restaurants want to put the fun back into the partyorganiser's life,
          225 words
        • Article
          Feeding on music to help famine victims
          191 18 IF MUSIC be the food of love, stop playing. On second thoughts, stop eating and start playing. That's what 3,000 people are going to do today to help famine victims in Africa. They will fast for 30 hours to raise $300,000 for the
          191 words
      • Article, Illustration
        Lock icon Turning the tables rather than the other cheek
        1078 18  -  With the curtains about to rise on this year's Drama Festival, this double-edged account of playwrights' revenge from one American critic may provide our erstwhile dramatists cold comfort for their adrenalin-filled days ahead. Break a leg! By MEL GUSSOW NYT FROM THE
        NYT  -  1,078 words
    • Executive Lifestyle: Pursuits
      • Article, Illustration
        'Give peace a chance'
        946 19  -  ART By HELEN CHANG COULD THE LATE 20th century become known for pioneering the most elusive of man's quests: peace on earth? From the melting of the US-Soviet conflict to the opening of communist countries to renewed India-Pakistan talks, the world is seeing overtures towards peace
        946 words
      • Article
        Lock icon Whose money is it anyway?
        669 19  -  By MAUREEN DOWD NYT WHEN it comes to art and so-called works of art, Jesse Helms knows what he likes. At his home in Arlington, a Virginia suburb of Washington, the Senator has ojl paintings of North Carolina scenes: a man sitting at a table
        NYT  -  669 words
    • Executive Lifestyle: Personal Investment
      • Article, Illustration
        Lock icon Bain sees a major bullish turning point
        660 20  -  AUSTRALIAN STOCK MARKET By HERMAN PHUA THE AUSTRALIAN stock market is beginning to offer investors attractive bargains. A series of setbacks this year from fears of a falling Aussie dollar to the country's widening current account deficit have kept many investors wary and
        Source: All charts from Bain & Company Graphics  -  660 words
      • Article
        Tax boost for owners, buyers
        1014 20  -  PROPERTY PROSPECTS By LI HIAW HO Mr U Is Director oI Valuation®, Richard Elite (Pto) Lid GOOD NEWS for property ownera and buyers the Government is reducing residential property tax rates to encourage property ownership. This policy is among four major property tax changes that
        1,014 words
      • Article
        Gold may rally to US$400
        220 20 GOLD GOLD could rally in the short term to the critical US$4OO level, says Bain securities in its July 14 issue of the Fund Manager's Digest. The Digest highlights selected gold stocks which Bain feels will participate in the rally in the near term. However,
        220 words
      • Article
        Go against short-term market mood Down Under
        239 20 FIXED INTEREST AUSTRALIAN fixed-interest markets are in for a rough and tumble time, according to Bain Securities. In its Fixed Interest Report the investment banker says the volatility looks set to go on. The report lists four major reasons a sharply inverted yteld-to-maturity
        239 words
      • Article
        Next recession will be very severe: Mr Doom
        580 20  -  WORLD ECONOMIC OUTLOOK By MICHAEL HUGHES FOR A GENIAL man who recently won a hula-hoop contest in a night club, Marc Faber, managing director ot Orexel Bumham Lambert in Hongkong, takes a remarkably gloomy view of the world's economic future. "The next
        580 words
      • Article, Illustration
        Lock icon Oil bonds likely to post solid returns
        644 20 BONDS Reuter Oil companies are currently generating enough cash to finance their operations without resorting to external financing. US OIL COMPANY bonds are likely to post solid returns for investors over the next few months with oil prices remaining in a roughly US$l5
        Reuter  -  644 words
      • Don't quote me...
        • Article
          Wonder Horst what?
          107 21 IF A PRIZE were to be given for the company with the most nicknames, Van Oer Horst would win it hands down. In the early eighties, when the company was doing well, it was called the "Wonder Horse". Then its fortune suffered a sharp decline, and the
          107 words
        • Article
          What a jackpot!
          143 21 SPEAKING OF volatile movement, the price of Promet shares has seen some sharp upswings lately. In about a month, its price has risen 10 cents. While this may not sound much, the increase is a 20 per cent gain from its base of about 50 cents. According
          143 words
        • Article
          Friend's wife's company
          93 21 WE ARE told that Helen Teo, the lady who recently sold a more-than-substantial interest in a sports company to Ong Beng Seng's Hotel Properties, is the wife of one of his close associates. The company, Euro Sports, is the sole distributor for leading sports brand ASICS in
          93 words
        • Article
          Employing would-be PRs
          117 21 TALK IN HONGKONG is that the Suntec group of tycoons, now building the billion-dollar International Convention and Exhibition Centre at Marina Centre, has gone on an employment binge in the colony. By one account, they are looking for up to 2,000 people for the project some to
          117 words
      • Article
        Pick your choice of Malaysian counters
        493 21  -  By AMY BALAN WHAT are analysts recommending? Below we feature some selections from Baring Securities. Prices stated are based on June 23 closing prices as in its July review. We have included July 27 closing prices at the end of each paragraph. INDUSTRIALS: Hong
        493 words
      • Article
        Warrants: premiums and gearing
        390 21 Conversion terms Premium/ QaiMA* /A A AI Ofl 7 Q Q\ ia%A\ rrlC6S (83 81 2o.(.09) (aiscounij bxDirv ■Amount Optional** using company (m units) Wrts Share Ln stk Conv ratio Exer price Ln stk Cash Gearing 4 |JL nom Date Mhs left value CKTang HI 2.400
        390 words
      • Article
        Not too late to jump on the bandwagon
        1320 21  -  MALAYSIAN STOCK MARKET By AMY BALAN WHO SAYS the Malaysian economy is recovering? It s booming! Just ask any businessman or analyst who has recently been to Malaysia. There is a distinct air of optimism. Money is pouring in, buildings and factories
        1,320 words
      • Article, Illustration
        Last trading season the most successful ever
        658 21  -  ART RUTH CORB,JEREMY ECKSTEIN THE 1988/89 ART MARKET season had just finished and the major auction houses have published their results, which are the usual guide to the art market's performance. These indicate a vast amount of growth. Examining the volume of net
        658 words
      • Article, Illustration
        Lock icon STII chart shows weariness after the substantial climb
        318 21  -  Vmm -By TSANG, ONG RESEARCH THE SURGE of interest in Ma-laysian-based stocks recently, apart from the usual fundamental argument of recovery in the Malaysian economy, also underlined a relatively high speculative element. A large number of these stocks are priced less than
        Source: Tang & Ong Research  -  318 words
    • Executive Lifestyle: Sports
      • Article
        Group's activities in Asia to continue, says Borg
        406 22 TENNIS WITH the ongoing upheaval in Sweden, the Bjorn Borg Group reiterates that their operations in Asia are not affected by the developments in Europe, where five-time Wimbledon champion Borg faces closure of his company in Stockholm. In a statement released on
        406 words
      • Article
        Lock icon ITF plans to ban S Africa and stay in the Olympics
        307 22 AP ALMOST A YEAR after its return to the Olympic Games as a model sport for the first time since 1924, tennis is making every effort to make sure it stays in the Olympic family for good. in a
        AP  -  307 words
      • Article, Illustration
        Lock icon Canadian pulls plug on Mancinl power
        238 22 AFP ITALIAN OPEN champion Alberto Mancini of Argentina crashed out of the Stuttgart Grand Prix on Thursday, losing in straight sets to Martin Wostenholme of Canada in the third round. Wostenholme, ranked 159, beat Mancini, who rose to 10th in the world after winning
        AFP  -  238 words
      • Article
        Lock icon Top seeds move into Washington Classic quarter-finals
        257 22 AFP TOP SEEDS Tim Mayotte and Brad Gilbert advanced to the quarter-final round of the U*****,000 Washington Tennis Classic on Thursday, while third-seeded Jay Berger crashed out. Mayotte, ranked 11th in the world, used his powerful serve to get past South African Barry
        AFP  -  257 words
      • Article
        Lock icon Novacek in Nabisco semi-finals
        73 22 AP KAREL NOVACEK of Czechoslovakia and Tomas Carbonell of Spain earned their berths in the semi-finals of the Nabisco Grand Prix tennis tournament in Hilversum, The Netherlands, on Thursday, while Andrei Chesnokov of the Soviet Union advanced into the quarter-finals. Novacek, the tournament s No 8
        AP  -  73 words
      • Article
        Colonial Chief looks set to rule
        768 22  -  h on TMCK With JEROME FANDOR TOPWEIGHT Colonial Chief will go to the start as the favourite for the M 5250,000 MRA Cup to be run in Penang tomorrow, despite finishing just fourth to Bestplan in the second leg of the Rothmans International 100
        768 words
      • Article, Illustration
        Hard-nosed businessman with a soft spot for boxing
        564 22  -  BOXING By CHARLES SAVAGE GENZO IJIMA, president of stainless steel manufacturer Shinei Seisakusho. is a hard-nosed businessman with the common touch and a passion for boxing. Quiet-spoken Ijima describes himself in terms that evoke images of the samurai, "a man of guts
        564 words
      • Article, Illustration
        Lock icon Admiral's Cup: Jamarella shines but Australia takes the lead
        253 22 YACHTING AFP BRITAIN'S highly-rated yacht Jamarella won the first race in the Admiral's Cup at Cowes, England, on Thursday after a brilliant performance by her crew. But Australia took the overall lead. The British 50-feet yacht passed the finish line 5%
        AFP  -  253 words
      • Article
        Lock icon Gentry triumphs with the fastest boat trip across the Atlantic
        319 22 AP AMERICAN Tom Gentry's powerboat zipped across the finish line at the Isles of Scilly on Thursday after a 2%-day journey from New York, completing what was billed as the fastest boat trip across the Atlantic. Gentry, 58, a wealthy
        AP  -  319 words
      • Article
        Lock icon King rejects US$18m bid for Tyson-Foreman fight in Taiwan
        211 22 AFP BOXING PROMOTER Don King has rejected a multi-million-dollar offer for unbeaten heavyweight champion Mike Tyson to fight George Foreman in Taiwan. King, who has taken over Tyson's affairs since the champion split with manager Bill Cayton, turned down an offer
        AFP  -  211 words
      • Article
        Lock icon The 'yachting capital' celebrates its centennial
        396 22 AP WHEN the oldest organised regatta in the United States began 100 years ago this summer, only 18 boats were entered in the races off the town of Marblehead, in Massachusetts, that calls itself the yachting capital of the world. Since then, the Marbiehead
        AP  -  396 words
    • Executive Jobs
      • Article, Illustration
        The head-hunter who's going great guns
        832 23  -  THE BIG MOIBE By ANNA TEO THE SEVEN-YEAR itch came, well, seven years ago. At 34 and already in senior management, Young Kuan-Sing felt he could go no further in his organisation, a governmentowned defence company. Then came a casual exploratory chat with a
        832 words
      • Article
        The test of tilting at Windmill
        1493 23  -  Faced with just a trickle of applicants in the past, Windmill International decided to pitch its offer differently and whoosh! what a tidal wave of a response. But its candidates were in for a surprise: the company mounted an onslaught to turn as many
        1,493 words
      • Article
        How well-paid are accountants?
        272 23  -  by ANNA TEO THE ACCOUNTANTS featured in the Ministry of Labour's 1988 occupational wages survey (see table) are most likely junior accountants with perhaps three years' experience. They handle the company's money matters review and verify the accuracy of journal vouchers, keep track of expenses, prepare
        272 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      197 13 CALL rr|T[s fx for all your financial needs from any phone, anytime, any place 222 5544 222 8844 Hong Leong R nance Singapore Finance HUOIS6 SI OUT CNT7) ki\lH F LOAN! l/Ii CLASS C NIQLIK ■OPtKN —IW-* slfttar<S FAC mmmif Ma tmm «jf y fir*®"l Hi J t I@* <
      197 words
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      Page 14 Advertisements Column 1
      120 14 > i 5 er a z io\ k: BOUTIQUE CLUB Z BOUTIQUE CLUB 21 (Ladies Wear) 333 Orchard Road #02-01/02 Mandarin Hotel, Singapore 0923 Tel *****53 > BOUTIQUE CLUB 21 (Menswear) 581 Orchard Road #02-10 The Shopping Gallery at the Hilton. Singapore 0923 Tel *****31 VALENTINO 581 Orchard Road #01
      120 words
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      Page 14 Advertisements Column 2
      30 14 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.
      30 words
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  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      892 16 1 U/fctr to entertain... Whet? to entertain... Where to entertain... Where to SENSATIONAL SIZZLING SATAY AT Cafe f a 3 > Sizzling satay, the all-time local favourite. Succulent mutton, chicken and beef skewered and grilled on an open fire, complimented by a rich peanut sauce, and accompanied with fresh bits
      892 words
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      Page 16 Advertisements Column 2
      260 16 THE GLAMOUR AWARDS Join us as we come to the climax of the competition for Singapore's riches annual fashion and glamour event. Tickets for the Grand Finals at $90 nett are available at the Mandarin > Reservations Counter. JC. l< Wl) I l\ \i s I \i \\l > \KI\
      260 words
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      Page 17 Advertisements Column 1
      185 17 [entertain.,,,! Evemy Sunday Theme's A Family Feast In The Pahk. At the Hubert us Grill, Sunday brunch is a great outing for the family. A glorious buffet spread is laid out for both grown ups and children. And to make sure the kid* are truly entertained, there's an exciting Mattel
      185 words
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      Page 17 Advertisements Column 2
      81 17 IJJIO9 mw At Gourmet Palace, youH discover a tantalising range of glutinous rice balls (An Bau Ling) where there is no comparison. We offer an array of fillings such as sesame, peanut, red bean, yam and durian (seasonal). The popularity of our speciality means you can enjoy it all year
      81 words
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      28 21 BT wtlconMi investment Idsss snd 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
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  • Page 22 Miscellaneous
    • Miscellaneous
      Page 22 Miscellaneous Column 1
      29 22 Bristol excuse roe uxsnock «f you can D>RecT ne TO THe -Petffcv ■> ft^«; ftSy IF YOU DON'T miND BEING Lflfe OH VOOfc Rf?ST DAY Nbu CW PCcompany ne. W'D
      29 words
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      Page 23 Advertisements Column 1
      370 23 UP COMING PROFESSIONALS. r iifPitt ;:/X Maxtor, the high-end disk drive leader is looking for two up-&-coming professionals. Professionals in the senior executive echelon and who are now ready for bigger responsibilities greater challenges. Being a progressive company, Maxtor offers promising managers the flexibility to better the current systems with
      370 words
  • Page 23 Miscellaneous
    • Miscellaneous
      Page 23 Miscellaneous Column 1
      1045 23 CRYPTIC PUZZLE ACROSS 9 Brown has no more snack (9) 10 Clear at this point it's a song title (4, 5) 12 Remain doggedly close to one (4) 13 From the West, a song about pioneer transport (6) 14 The pears fall to the grass (7) 15 Safe and sound,
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  • Page 24 Miscellaneous
    • Miscellaneous
      Page 24 Miscellaneous Column 1
      612 24 Moving Out, Today, 10.30pm. SBC 5 A teenage Italian migrant finds difficulty reconciling his native cultural background with his new home in Melbourne's inner suburbs. Preferring to grow up a beer-guzzling Aussie rather than an Italian wino, he undergoes an adolescent revolution in this less-than-serious production. Vince Colosi mo, Brian
      612 words
    • Miscellaneous
      Page 24 Miscellaneous Column 2
      1988 24 > iLk 2 2. v SATURDAY C: CMnoao; T: Tamil; Moloyi r rtptil SBC 12 PM Opening and Programme Highlights followed by Bodywatch Breast Cancer (See Our choice). Bookvisions: Jude the Obscure Christminster Again (r. Last Episode). Jude and Sue eventually return to Christminster with three children, and Sue is
      1,988 words
    • Miscellaneous
      Page 24 Miscellaneous Column 3
      1388 24 SATURDAY BBC 819 mttz in VHF Band II BAM Newshour. 7.00 World News. 7.00 Commentary. 7.1 S From the Weeklies 7.30 Multitrack 3. 0.00 Newsdesk. 0.30 Personal View. 0.45 Recording of the Week 0.00 News Summary followed by Outlook. 0.25 Financial News. 0.30 Women of the French Revolution. 0.45 Book
      1,388 words
    • Miscellaneous
      Page 24 Miscellaneous Column 4
      212 24 1 i. Ruddy Kiagflsker, Today. 6.30pm, SBC 5 Catch a glimpse of the ruddy kingfisher's unique and very versatile hunting techniques both on land and water as well as its courting and mating rituals. Sdeoce Chiieije '89, Today, B.oopm, SBC 5 The whiz kids battle it out in a grand
      212 words