The Business Times, 3 March 1990

Microfilm: NL16959
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    10 1 Business Times MCI (P) 170/12/89 Weekend March 3-4 1990 75®
    10 words
  • NEWS& MARKETS SUMMARY
    • Article
      Dow Jones up
      45 1 Short-covering after four days of gains helped US stocks rise moderately at the opening yesterday, but profit-taking also appeared. The Dow was ahead three at 2638 and already giving ground to the expected prc-wcckcnd profit-taking. Gainers led declining issues by over two-to-one.
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    • Article
      Footsie up
      46 1 London shares were higher at midday yesterday. The Financial Times-Stock Exchange LOO-sharc index was 12.9 points, or 0.6 per cent, higher at 2,251.3. Volume came to a moderate 378.9 million shares by midday, compared with 193.7 million shares at the same time on Thursday.
      46 words
    • Article
      Race for the big job
      36 1 The race is on to clinch the single biggest building job in Singapore the $750 million to $1 billion main contract to build the International Convention and Exhibition Centre Page 4
      36 words
    • Article
      Printing break
      23 1 The printing industry is planning to form an overseas marketing consortium to help local companies break into new markets Page 4
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    • Article
      Gloomy prospects
      15 1 London-based chartist David —duller paints a gloomy picture for world markets Page 5
      15 words
    • Article
      Banking on Thailand
      33 1 Two of Singapore's Big Four banks, DBS Bank and OCBC Bank, have teamed up to move into the Thai stock market with a US$5O million unit trust fund Page 6
      33 words
    • Article
      Japan's US priority
      27 1 Resolving bilateral trade problems with the United States is the most urgent problem facing Japan, Prime Minister Toshiki Kaifu told parliament yesterday Page 7
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 785.18 +3.47 Kuala Lumpur ..3050.47 +10.72 Hongkong 2937.93 +4.6 Tokyo 34,057.5 +227.98 Sydney 1,567.7 -2.4 Thursday Change New York 2635.59 8.34 London 2238.4 -17.0
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    • Article
      CURRENCIES
      20 1 Exchange rates US$ SSI.8780 Yen SSO.*****8 MS SS0.6935 Money market rates Overnight 5 1/2 unch 3-montn 6 3/8 1/8
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    • Article
      COMMODITIES
      35 1 London Gold AM fix US$406.40 US$0.15 Rubber S'porc Apr.... 159.75«/kg 2.00 M'sia Apr. M230.00*/kg +6.00 KL Tin Turnover l2ltonncs +65 Spot... M$l6 83/kg unch Crude palm oH Turnover 524 lots -348 Mar... M$664/tonne -I
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  • Article
    A budget for a maturing nation
    536 1  -  Incentives for high-growth industries, more babies, caring families By Kenneth James FINANCE MINISTER Richard Hu yesterday presented a budget that reflected a nation growing up it celebrated the good years, set directions for future growth, and addressed nagging concerns of rising business costs, not
    536 words
  • Article
    GE to invest $800 m
    364 1  -  By Lilian Ang THE US-based GE group is to invest about $800 million in a world-scale engineering plastics complex in Singapore, reversing its shrinking presence in the Republic, and thrusting the local chemicals industry onto a yet higher plane. GE Plastics, the group's plastics-manufacturing arm,
    364 words
  • Article, Illustration
    Bank manager, under CPIB probe, falls to death
    296 1 A DEPUTY general manager of the Bank of China who was under probe by the Corrupt Practices Investigation Bureau fell to his death on Wednesday. A couple of hours earlier, Chan Chwec Chiew, 51, the dead man, had visited the flat of
    296 words
  • Article
    'No' to lower tax on offshore income
    249 1 CONCESSIONARY tax on offshore corporate income cannot be granted because it would lead to not only a loss of revenue, but also an outflow of jobs, said Finance Minister Dr Richard Hu last night. Explaining the government's reasons for not making repatriated offshore
    249 words
  • Article
    Foreign workers for more sectors
    338 1  -  By Anna Teo LABOUR-STRAPPED employers, including small businesses, outside the manufacturing, hotel and construction sectors will be allowed to employ foreign workers, following a policy relaxation announced by Finance Minister Richard Hu. The government has decided to gradually admit a controlled, revolving pool of foreign
    338 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      110 1 Nikon ThtWbrid'sFlnMt Photographic System. MSp i., ~X< COVER STORY The new iron age EL 1 Hreraft Schedule IL 13 Bnstow £L 13 Broker rates 6 Budget report 2, 3 Crosswords El 13 Doonesbury EL 2 (Mars Nonsense 6 financial News 6 Home News 4 USE 10 Money and Commodrties 6
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    • Advertisement
      Page 1 Advertisements Column 2
      15 1 OPINIONS The missing X factor. EL 2 The dollars and sense of living. EL 2
      15 words
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      Page 1 Advertisements Column 3
      10 1 LEISURE Berry merry in More stories, reactions. Pages 2 3
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    • Advertisement
      Page 1 Advertisements Column 4
      190 1 Nikon TtwWbrid'tFlnwt Phologiephte SyHwn. —r A princess blows her Trump-et FINANCE Insurance cover for your maid. EL 10 Japanese stocks still on the edge. EL 11 U CONNOISSEURS F O R COLLECTORS When choosing your Dunhi 11 Elite, let The Hour Glass enhance the occasion. 1 'I Ai The Hour
      190 words
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  • BUDGET '90
    • Article, Illustration
      Budget '90: Solid surplus expected yet again
      617 2 Robust growth will be reflected in higher tax collection |THE BOTTOM LINE of jthis fiscal year's budget is 'again expected to show a healthy surplus despite growth in spending far outstripping the anticipated growth in revenue. Overall, revenue is projected to increase by
      617 words
    • Article
      Spending was just 2.6 pc off
      316 2 THE GOVERNMENT spent about 2.6 per cent more than it planned for last fiscal year, mainly because of a 10 per cent increase in planned expenditure on development. Recurrent expenditure was actually lower than planned, even though expenditure on manpower in the ministries and
      316 words
    • Article
      What the various ministries will get
      1422 2  -  Reports by Kenneth James, Anna Teo, Shoeb Kagda JfiSaSH Trade Industry ($362 m, down 9pc) MTl's distribution of its recurrent budget reflects the emphasis on investment promotion and training. Two programmes one from the Economic Development Board and the other, the Industrial Training programme
      1,422 words
    • Article
      Prudent financial policy continues
      784 3  -  COMMENTARY By Mukul Asher THE BUDGET represents another step the objectives of the government's long-term fiscal policy. They are: -•to keep the government expenditure to GDP ratio below 25 per cent and much smaller than the revenue to GDP ratio; •to keep taxation on capital income
      784 words
    • Article, Illustration
      Mild and focused Budget
      546 3 THIS YEAR'S budget proposals are mild, focused and calculated to promote highvalue corporate activities, and procreation. But the lack cjf specific measures to contain rising business costs at source will have a dampening effect on the high-cost, low value-added companies. These were the views expressed by
      546 words
    • Article, Illustration
      Nuggets in the Budget
      534 3  -  By Martin Soong ITS A WHITE BOOK that threatens to turn into a black hole of boredom. Of course, people don't actually read the Budget book. They scour it, the way people pan for; gold. I found some nuggets too. From the numbers at least, FY9O
      534 words
    • Article
      What others say
      581 3  -  Reactions to Budget reported by Yong Pow Ang, Elaine Koh, Soh Tiang Keng, Walton Morais, Genevieve Cua and Shoeb Kagda Company income tax "THE MODEST onepoint reduction in corporate tax is appreciated. This will, to a small extent, offset the recent increases in business costs which have
      581 words
    • Article
      Budget Snapshot
      418 3 For business Corporate tax down 1 point to 31% from YA9I. Incentives for international trading in major non-oil commodities. Under Approved International Trader incentive scheme, a 10% tax rate for trading in rubber, timber, edible oils, coffee, cocoa, metals and minerals, bulk commodities. From YA9I. MNCs to set
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    • Article
      What the GPC heads say
      214 3 THE real shocks and surprises affecting the man-in-thc-street came before the Budget, so yesterday's generous Budget announcement should be seen in this perspective, said S Chandra Das, chairman of the Government Parliamentary Committee for defence and foreign affairs. "The real taxes, the real burden have
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  • Article
    SHIPS IN PORT
    1783 4 AT CONVENTIONAL WHARVES VnmI Voy No B«rth Arrival Departure K«oo«< WharvM E»!«W.d 01 KU otongtda 0203/ 2330 Anonoi 9001 K2» oionguda 0203/ 2100 Eotfarn Gi 6t K3S otong*da 0203/ 1930 Koto Patong. 12/90 «2 otong*da 0303/ 1200 Koto Pmofco f 837 K3I otong«ida 0503 0600 w J
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  • HOME NEWS
    • Article, Illustration
      Race starts for the largest building job in Singapore
      468 4  -  By Genevieve Cua THE RACE is on to clinch the single biggest building job in Singapore the $750 million to $1 billion main contract to build the International Convention and Exhibition Centre. Invitation for a prequalification round of selection was placed
      468 words
    • Article
      Printing industry plans overseas marketing body
      244 4  -  By Sangeeta Mulchand THE PRINTING industry is planning to form an overseas marketing consortium (OMC) to help local firms break into new markets. The idea is for the consortium to act as the marketing body for the industry, the chairman of the OMC working
      244 words
    • Article, Illustration
      Draft standard building contract to be ready by June
      299 4 THE FIRST draft of a standard contract for building and construction projects in the public sector, which now uses about 18 different forms, will be ready before June. Copies of the draft will then be circulated among building industry professionals and
      299 words
    • Article
      More Aussie visitors
      340 4  -  From Florence Chong IN SYDNEY THE NUMBER of Australians visiting Singapore rose by 25 per cent in the first 11 months of last year. It represented the largest growth from a single market sector, followed by Japan at 22.6 per cent. The Asean market, the largest market
      340 words
    • Article
      Jayakumar on scarves for Muslim officers
      165 4 WHILE Muslim women in the Immigration Department. or any other government department are not prohibited from wearing head scarves, staff whose jobs require them to be in uniforms cannot modify their uniforms. Home Affairs minister Prof S Jayakumar told Parliament yesterday. Replying to a
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    • NEWS ROUNDUP
      • Article
        Keeping celebrations and security apart
        70 4 POLITICAL detainees cannot be released based on extraneous factors such as National Day celebrations or other celebrations but on the professional assessment and recommendation of the Internal Security Department, Home Affairs Minister ProfS Jayakumar told Parliament yesterday. His remark was in reply to a question
        70 words
      • Article
        Mendaki report out this month
        64 4 MENDAKI's own report on the tertiary education fees proposal would be out by about the end of this month and who have reservations about the proposal to make better-off Malays pay their own way in University should wait until then so they can make a
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      • Article
        $3.3 m grant for optics centre
        69 4 A $3.3 MILLION grant was yesterday awarded to the Pitcision Optics Training Centre (POTC) for the setting up of its new training centre. The grant from the Skills Development Fund is part of the government's plan to build up training facilities geared towards specific
        69 words
      • Article
        More publicity for health
        124 4 TO FURTHER increase the level of health awareness, health education and promotion will be stepped up, said the government yesterday. Acting Minister of Health Mr Yeo Chqow Tong said that this in turn will lead to a healthier population. To this end, the government will build
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      • Article
        Roles of Malay language
        80 4 THE Malay language can adopt an international role but it must at the same time build a Singaporean identity. The Minister of State for Foreign Affairs and Finance, Brigadier General George Yeo, said yesterday that though English isran international language for trade, the Malay language will
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      • Article
        Use IT, wholesalers urged
        68 4 THE LOCAL wholesale and distribution sector must make full use of information technology (IT) to gain a competitive edge in the global business. Speaking at an IT conference. Trade Development Board chief Mr Yeo Seng Teck pointed out that information controls the flow of the right
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  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      88 4 Contact tolophon* numbers (Tan)ong Pagar Terminal) S«ctton I Section 2 Section 3 tortfi t«i«phoo« B«rlfc ««l«phoo« B«rrh ••l«phoo« CI *****20/*****92 C 4 *****24 C 8 —*****63 CIN *****20 C 5 *****43/******5 C 9 *****64 CIS *****92 CSN *****43 CIO *****70 C 2 *****51/*****53 CSS —*****44 CI2 *****54/*****42 C2N *****53 C
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  • COMPANY NEWS
    • Article, Illustration
      MARKET SUMMARY
      551 5 Other indices Close Previous Net change Mar 2 Mar 1 BTf Composite 1358.66 1 tid7 BT-MGA 785.18 781.71 +3.47 ST Industrials 1551.47 1546.05 +5.42 BT OB/OS ,08 'I 5 'I BTCADI I i III m BT 10-dav MA -5265 -5254 BTOBV +*****18 +*****16 +***** ST Finance 2654.28 2644.47
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    • Article
      Lock icon KLSE's fixed delivery system satisfies federation
      405 5 Bernama THE FEDERATION of Public Listed Companies (FPLC) is satisfied with the concrete steps taken by the Kuala Lumpur Stock Exchange (KLSE) to resolve the problem of missing scrips. Its president, Tunku Naquiyuddin, said he was heartened with the measures adopted to rectify the
      Bernama  -  405 words
    • Article, Illustration
      Antah plans two listings before year is out
      482 5  -  By Abdul Hadhi DIVERSIFIED MALAYSIAN group Antah Holdings is planning to list two of its associated companies on the Kuala Lumpur Stock Exchange before the year is out. Speaking to BT, Antah chairman Tunku Naquiyuddin said: "We have United Orix Leasing Bhd
      482 words
    • Article
      Lock icon MBf on lookout for foreign partners
      339 5 Bernama MBf FINANCE bhd, which is acquiring stockbroking firm Charles Bradburne and Co (1930) Sdn Bhd, is to invite international stockbroking firms to join it so that it can market Malaysian stocks overseas. MBf Finance managing director Datuk Loy Hean Hong, however, said no
      Bernama  -  339 words
    • Article
      Lock icon All Bond business dealings under investigation
      324 5 AFP THE AUSTRALIAN authorities have launched a special investigation into the business dealings of the Bond group of companies. Attorneys general of the six state governments appointed lawyer John Sulan to examine Bond company dealings under a brief from the Ministerial Council for Companies
      AFP  -  324 words
    • Article
      Thai hotel group to offer shares to foreigners
      374 5 FOREIGN INVESTORS will be able to buy into one of Thailand's largest hotel groups when the New Imperial Hotel Company Ltd is listed on the Thai stock exchange either this month or early next month. Imperial will offer foreign investors between 5
      374 words
    • Article
      Watford increases stake in QAF Ltd
      201 5 HONGKONG based Watford Investments Ltd has lost no time in strengthening its controlling hold on food group QAF Ltd following the recent sale of a big chunk of shares by Prince Mohamed Bolkiah. In an announcement to the Stock Exchange of Singapore on Thursday,
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    • Article, Illustration
      Global markets are at the point of meltdown, warns Fuller
      629 5  -  MARKET TALK By Rosie Tan FOR INVESTORS who still believe in the eternal bull, London-based chartist David Fuller has a warning: "This is a developing bear market. Global markets arc at the point of meltdown." The popular investment guru who
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  • FINANCIAL NEWS
    • SMALL CHANGE
      • Article
        Conference on factoring
        40 6 THE Singapore Manufacturers' Association and the Factors Chain International are jointly holding a conference on international factoring on March 23. The theme is "Opening New Markets in the Nineties Through International Factoring". Those interested can contact Burson-Marsteller.
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      • Article
        Burma's new 200-kyat note
        30 6 BURMA will begin circulating a 200-kyat banknote on March 27 to expedite the financial transactions and replace old, usable legal tender, a central bank spokesman said.
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      • Article
        IMF asked to sell gold for aid
        61 6 THE US government publicly asked the International Monetary Fund to sell about US$l.2 billion worth of its gold to give 11 of the world's poorest countries, including Vietnam and Cambodia, a chance to catch up on their debts. Others on the list are
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    • Article
      DBS, OCBC enter Thai market with US$ 50m unit trust
      317 6  -  By Dexter Lee TWO of Singapore's Big Four banks, DBS Bank and OCBC Bank, have teamed up to move into the booming Thai stock market with a US$5O million unit trust fund. Unusual as the cooperation between the two rival
      317 words
    • Article
      SEB opens Bangkok office
      119 6 SKANDINAVISKA Enskilda Bankcn (SEB), the biggest banking group in Sweden, will open a representative office in Bangkok next month. Mr Rutger Blennow, general manager of SEB International. told BT that the opening of the Thai repre- sentative office is a reflection of the increased trade activities
      119 words
    • Article
      Lock icon Morgan Grenfell unit eyes Deutsche counterpart
      152 6 AFP lIIK Japanese investment advisory unit of British merchant bank Morgan Grenfell and Co plans to absorb a similar unit of Deutsche Bank AG, Jiji Press said on Thursday, citing informed sources in Tokyo. According to Jiji Press, the merger plan follows the British
      AFP  -  152 words
    • Article
      Lock icon Fed seems to be in no hurry to adjust rates
      351 6 Reuter TWO MONTHS after the Federal Reserve last adjusted its interest rate strategy, the central bank appears in no hurry to tamper with a policy that analysts say is successfully addressing the economy's needs. But even as the Fed continues
      Reuter  -  351 words
  • MONEY AND COMMODITIES
    • Article
      BOJ intervention, profit-taking help stem US dollar surge
      1609 6 FOREX MARKET REPORTS THE US dollar yesterday finished I slightly lower against the yen in major I Asian foreign exchange markets after crossing the 150-yen barrier during the day's trading. Strong intervention from Bank of Japan together with a stream of profit-
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    • Article
      Tin futures on KLCE finish lower
      358 6 COMMODITY REPORTS THE tin price on the Kuala Lumpur Tin Market (KLTM) ended unchanged at Thursday's M$ 16.83 a kg finish after both buyers and sellers decided to close deals at the opening level. Turnover rose to 121 tonnes from Thursday's 65. The local
      358 words
    • Article
      INTERBANK FOREX RATES
      409 6 Crass rates 2 Mar I USS SS MS Dm Yen SFr Aj NZJ USS 1.8780 2 7080 1.7180 149.90 0.6002 1.5070 I 3098 1.6978 SS 0.5325 ***** 0.9148 0.7982 0.3196 0.8024 0.6974 0.9040 MS 0 3693 69.35 0.6344 0.5535 0.2217 0.5565 0 4837 0.6270 Dm 0.5821 1
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    • Article
      MONEY MARKET
      566 6 Broker rates Mar 2 SS Bid Offer Overnight 5 1/4 5 1/2 1-month 6 1/8 6 1/4 2-month 6 3/16 6 VI6 3-monmth 6 1/4 6 3/8 Overnight mode: 5-5/16 tISt Bid Offer 7 days 8 1/4 8 3/8 1 month 8 5/16 8 7/16 2 months 8
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  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      45 6 jl%~- 1 i i egp j !*•!>"_'. ,CJ. l- SV :'i f- v'A y' A I t t r$mh llr i v pU„-' -Jfei-il Cv "That's very sweet, Mr. Sefton, but you still don't have enough money in your account to cover this check." M© 8
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  • THE WORLD
    • Article
      Lock icon US trade friction most urgent problem: Kaifu
      397 7 Reuter RESOLVING bilateral trade problems with the United Siates is the most urgent problem facing Japan, Prime Minister Toshiki Kaifu told parliament yesterday. On the eve of a US-Japan summit meeting that will centre on the trade issue, Mr Kaifu said he would
      Reuter  -  397 words
    • Article
      Proposals to cut surplus
      193 7 BIG BUSINESS in Japan has issued its own set of proposals to eliminate Japan's nearly US$5O-billion annual trade surplus with the United States. The report, released on by the Federation of Economic Organisations (Keidanren), Japan's most influential business lobby, recommended adopting policies to achieve gradual yen
      193 words
    • Article, Illustration
      Buyers go, Sogo stays
      41 7 Full shopping bags leave Sogo which opened in Jakarta on Thursday, drawing fire from local department stores which fear it could mark the entry of foreign capital into retailing, which by law is reserved for local investors.
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    • Article
      Lock icon US manufacturing declines at slower rate
      381 7 NYT DESPITE increases in the level of new orders and exports, the manufacturing sector of the US economy remained in decline in February for the 10th consecutive month, the National Association of Purchasing 'Management said on Thursday. But the decline was at a slower
      NYT  -  381 words
    • Article, Illustration
      Lock icon Talks make progress over supercomputer barriers
      525 7 AP US AND Japanese negotiators have moved closer to an agreement on Japanese government purchases of supercomputers, an area in which the United States contends Japan discriminates unfairly against foreign sellers, officials said on Thursday. Under US trade law, trade officials must report to
      AP  -  525 words
    • Article
      Lock icon Asian ports gear up for battle over shipping market
      300 7 Reuter ASIAN ports arc gearing up for a fierce battle over market share as the region consolidates its dominant role in global shipping over the coming decade. "We sec fierce rivalry among... Hongkong, Singapore. Taiwan and South Korea as they pump
      Reuter  -  300 words
    • Article
      Lock icon US-M'sia trade ties remarkably trouble-free: envoy
      293 7 Bernama US AMBASSADOR to Malaysia Paul M Cleveland has described the trading relationship between the United States and Malaysia as "remarkably trouble-free; probably the best overall in the region. "This is due in large part to Malaysia's relatively open trading environment," he told a
      Bernama  -  293 words
    • Article, Illustration
      Lock icon Prague for private enterprise
      329 7 Reuter THE CZECHOSLOVAK government, in its first major step towards a market economy, approved draft laws on Thursday allowing private enterprise and joint ventures open to foreign capital. But a bill to reform state enterprises was sent back for further study. "It should be back before
      Reuter  -  329 words
    • WORLD WATCH
      • Article
        Iran to spend US$ 10b on arms purchases
        58 7 IRAN PLANS to spend more than US$lO billion on arms purchases and to modernise its armed forces over the next five years. Defence Minister Akbar Torkan said yesterday. Mr Torkan said more than US$2 billion per year would be earmarked for arms
        58 words
      • Article
        Bright future for US ties: Li
        86 7 PREMIER Li Peng said he saw a "bright future" for China's relations with the United States, which has been recently accused of "brutal" interference. State television news on Thursday showed Mr Li telling members of a non-govern-mental US committee that recent difficulties in relations
        86 words
      • Article
        Beijing acts against nepotism
        100 7 CHINESE government and party cadres have been encouraged to serve in posts away from their hometowns to prevent nepotism, the official China Daily said on Thursday. The measure was part of a series of rules already implemented in several provinces, the official English-language daily reported, citing
        100 words
      • Article
        Arianespace wins US contract
        73 7 THE EUROPEAN space consortium Arianespace has won a new US contract to launch two satellites, a week after an Ariane rocket blew up shortly after takeoff with two Japanese satellites on board. The two new satellites. Galaxy VI and Galaxy VII, made by Hughes Communications Inc
        73 words
      • Article
        Labour Party leads in UK poll
        79 7 THE BRITISH opposition Labour Party currently has an 18.5 per cent lead over the Conservatives, according to a Gallup opinion poll published in London yesterday by the Daily Telegraph newspaper. The result, which shows 49.5 per cent of those questioned saying they would vote
        79 words
      • Article
        Talks on fighting tax fraud
        109 7 THE EUROPEAN Community and the US plan high-level talks next week to boost transatlantic cooperation against tax fraud. Officials said on Thursday EC Tax Commissioner Christiane Scrivener will meet top Bush administration officials, including Treasury Department chiefs, and Federal Reserve Board Governor Wayne Angell. Mr
        109 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      96 7 rTHE stncaporf ra ix;i:r 1990 The Budget Statement presented by Dr Richard Hu to Parliament will affect Singa|M>res Economy in the coming year and every manufactur er, businessman and trader doing business in Singapore. Ernst Young is organising a seminar to analyse and forecast the effects of the Budget. The
      96 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Lacklustre trading ahead of weekend
      4353 8  -  By Abdul Hadhi CAUTIOUS TRADING dominated the Singapore stock market yesterday as investors refrained from taking large positions ahead of the weekend. Brokers said that most investors were sidelined waiting for the Budget statement (which was announced after trading hours yesterday) despite the fact that
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  • STOCK EXCHANGE OF SINGAPORE 2
    • Article
      Indices advance in an atmosphere of caution
      690 9  -  By Abdul Hadhi CAUTION was the order of the day in the OTC market yesterday, with investors continuing to watch Tokyo closely. Brokers said the climate was especially bad for the Malaysian second and third-liners. "When times are good, these stocks really fly.
      690 words
    • Article
      CLOB INTERNATIONAL
      2906 9 191 High HONG Company Last Me +orVol C000) Do High Low Last Qw layer N te filer WI Df* Dtr Or HI rw Not m. M Cap 102 97 1418 CDL Hotels Intl 99 +2 ***** 99 98 98% 99 1246 Cathay Pacific 825 1000 980 1739 Cheung
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  • Article
    BONDS, LOANS AND WARRANTS INFORMATION SERVICE
    888 9 Coapaay Expiry/ c^ 9 e Comymiom 9*** latere* Cowreraioa kmkrw onMnwry malwity payable share dale Causeway Loan 1994 6 Dec 31 CauMway m 1994 Oct 2. 1989 to Oct 20. 1994 warrant plus $1 cash or 1 warrant plus SI nominal amount of loan
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market closes higher
      3403 10 MBT SHARE PRICES recovered to close higher on the Kuala Lumpur stock market yesterday in quiet trading. The market had earlier opened easier but started to move up after the first hour on buying in financial and property issues. Investors also gained confidence from the higher Tokyo
      MBT  -  3,403 words
  • BT SHARE INFORMATION SERVICE
    • Article
      DIVIDENDS ANNOUNCED
      414 10 Current Ex Books Data Total for Total for payment date dose payable the year last year Asean Find USlOC(b) Mar 7 Mar 19 Mar 26 US10C Anmo 15*TE Feb 28 Mar 12 May 15 25*TE 25*TE B A T 909*(n) Apr 6 Apr 19 May 3 122 7*(n)
      414 words
    • Article
      RESULTS DUE
      579 10 Singapore Stocks Last Full Year Conpany Period Date Year Net EPS Grew Net momced endnf (cents) <fv profl last year (S'000) B M T Interim Jan 27 Jun 90 169.6 100 0 516 G Seorties Final Feb 2 Dec 89 6.8(a) 768 S Steamship Land Final Feb 13
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    • Article
      APPROVED ISSUES
      312 10 Company Rights Issue MiC One lor tour (a. M$? 40 per share Ex-date Mar 8 Books close Mar 22 Acceptance Payment NYA Bousterico One tor three (a 1115 per share Ex-date Ian 19 Books close Feb 1 Acceptance Payment Mar 19 CtC Twalor twe <a, $2 10 per
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    • Article
      PROPOSED ISSUES
      325 10 Company Rights Issue A Enterpriws Three tor tour (a. MJ2 30 per share Apofc Qnetor one (3. SI 85 per share 0 Hotdhp Issue of 27m loan stocks in the ratio of $3 loan stock tor every five ordinary shares held F*C8 One-tor one <n MSO 60 per
      325 words
    • Article
      COMPANY MEETINGS
      73 10 Arab-Malaysian Merchant Bank Berhad: EGM at Dewan ArabMalaysian, 7th Floor, Bangunan 55 Jalan Raja Chulan, ***** Kuala Lumpur on Monday, Mar 5, at 10.30 am. MCB HokSnp Berhad: EGM at 16th Floor, MBC Plaza, 6 Cangkat Raja Chulan, *****. Kuala Lumpur on Monday, Mar 5, at 10.00 am.
      73 words
    • Article
      RECORD HIGHS AND LOWS
      145 10 BT Composite Index ST Industrials Index 1990 htfi: *****2 (6/2/90) }**> J"* JJJJ'J® SSn'IS! 1990 low: 1307 35 26/1/90) *0 J 89 g/J 1989 h*h: *****0 28/12/89) }*> 487 76 (26/12/89 1989 low: 917 42 (4/1/89) }J" J/1/J9 1988 htfv 1043 86 (8/8/88) U77.87 <}w«) 1988
      145 words
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  • REGIONAL STOCK MARKETS
    • Nikkei recaptures hold on 34,000 benchmark
      • Article, Illustration
        HONGKONG
        1140 11 NARROW-RANGE trading dominated the Hongkong share market yesterday as most traders were sidelined ahead of the weekend and next Wednesday's Budget speech, brokers said. The Hang Seng Index rose 4.6 points to 2,937.93. "I think sentiment right now is very boring," one local broker said. "There has been no
        1,140 words
      • Article, Illustration
        TOKYO
        832 11 SOME relief that the yen strengthened a bit yesterday coupled with a general sense that the market was due for a technical rebound, if not solid recovery, helped lift share prices on the Tokyo market to a higher close in fairly thin trade. The Nikkei recaptured its hold on
        832 words
      • Article, Illustration
        SYDNEY
        520 11 AUSTRALIA'S sharemarket drifted to a slightly weaker close yesterday, ending a week of volatile trading. The All Ordinaries Index fell 2.4 points to 1,567.7, but was off its low at 1562.3. Since last Friday's close, the index has dropped 12.8 points, largely due to the bearish influence of Tokyo's
        520 words
      • Article
        BANGKOK
        241 11 THAI share prices edged lower in jittery trade yesterday following remarks by Prime Minister Chatichai Choonhavan over the future of democracy in Thailand, brokers said. The official SET Index fell 1.70 point to end at 811.24. Declines led advances 71 to 47. Most active were Siam City Cement, Capital
        241 words
      • Article
        SEOUL
        234 11 SEOUL stocks closed sharply higher yesterday, boosted by news the govern- ment will support the market by designating 31 more institutional investors and allowing three new US$lOO million funds to be set up, brokers said. The composite stock index closed up 22.48 at 884.07. It opened over 20 up
        234 words
      • Article
        BOMBAY
        88 11 BOMBAY share prices ended lower in quiet trading as most market players kept to the sidelines ahead of the weekend. brokers said. "Trading was absolutely dull," a broker said. "There were neither buyers nor sellers." State-owned investment institutions, which bought heavily on Thursday to stop a market slide, were
        88 words
      • Article
        MANILA
        156 11 SELECTED shares gained slightly at the close of light trade in Manila yesterday following the release of a loan for Philippine Long Distance Telephone Co and firmer world copper prices, brokers said. Manila's composite index rose 12.11 to settle at 1,028.32. "It was just a slight up move, because
        156 words
      • Article
        TAIPEI
        389 11 THE TAIWAN stock index ended slightly higher yesterday after continued investor indecision kept it in a narrow range for most of the day, dealers said. The weighted index rose 17.14 points, or 0.15 per cent, to finish at 11,436.99. Turnover was NT5117.32 billion compared with NTS 160.02 billion on
        389 words
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      64 11 J i $4 A MONTHLY MAGAZINE OF BUSINESS TRENDS Singapore, Hongkong as region's stockmarkets? Special report: Japan's yen for Singapore The big business of celebrating Pick of the region's quality stocks Simex's agenda for the 1990s Cruises for everyone Investment spotlight on Polytek Wearnes, Metalock MARCH 1990 A Times Periodicals
      64 words
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  • WORLD STOCK MARKETS
    • Cyclical issues push Dow up in 4th straight rise
      • Article, Illustration
        NEW YORK
        831 12 BUYING in cyclical issues propelled US stocks to their fourth consecutive advance on Thursday. Wall Street traders said investors are beginning to believe the US economy may do better than expected this year and that was the main ingredient in the rally. The Dow Jones Industrial Average gained
        831 words
      • Article, Illustration
        LONDON
        784 12 UK SHARES opened mixed in thin trading yesterday with a meagre 34.2 million shares changing hands. The market derived some support from a 0.67 per cent rise on Tokyo's Nikkei Index and a slim eight point rise on Wall Street. But fears that the recent instability in world equity
        784 words
      • Article
        MILAN
        135 12 ITALIAN shares rebounded at the opening yesterday in what brokers said was a technical reaction to Thursday's price falls. Early volume appeared to be running at a level higher than Thurs- day's 140 billion lire. The MIB index was up 1.2 per cent at 1000 GMT, but a half
        135 words
      • Article
        PARIS
        190 12 FRENCH share prices were firmer by midday yesterday as car-maker Peugeot surged ahead on strong foreign and domestic buying, dealers said. The CAC-40 index was up 15.69 points at 1,848.13 by 1145 GMT after starting this morning at 1,831.59. Peugeot was last quoted 42 francs up at 829 in
        190 words
      • Article
        TORONTO/JOHANNESBURG
        433 12 THE Johannesburg stock market closed mixed in generally trend less p re-week-end trading yesterday in the absence of any fresh factors, dealers said. The JSE All-Gold Index slipped to a preliminary 1877 close from Thursday's 1885 and the industrial index to 2974 from a 2982 close on Thursday. But
        433 words
      • Article
        ZURICH
        296 12 SWISS shares opened slightly higher yesterday in line with the positive trend on Wall Street and in Tokyo, dealers said. Credit Suisse's good company results for 1989 also helped the market. CS Holding, the parent company for the Credit Suisse group, said on Thursday its board of directors would
        296 words
      • Article
        Untitled
        379 12 Other markets in Europe, South Africa and Canada Amsterdam Mar I Fh ABN 38.3 unch Aegon 104.2 -0.8 Ahold 112.8 -0.6 Akzo 118.70 unch Alrcnta 152.3 unch AMEV 54.8 -1.2 AMRO 75.0 -0.5 Ass. St ad 42.2 -0.1 BOLS 162.0 -I Borsumy 69.0 -1.3 Buehrman Tetterode.. 54.10 -0.8 CSM 72.8
        379 words
  • Page 12 Advertisements
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      315 12 NOTICES IN THE MATTER OF THE COMPANIES ACT, CAP. 5« AND IN THE MATTER OF G K GOH INVESTMENTS (PTE) LTD (Incorporated In Singapore) (In members' voluntary winding-up) At an extraordinary general meeting of G K GOH INVESTMENTS (PTE) LTD duly convened and held at 50 Raffles Place #33-00 Shell
      315 words
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      Page 12 Advertisements Column 2
      366 12 IN THE MATTER OF THE COMPANIES ACT. CAP 50 PRINT MARKETING SERVICES PTE LTD (Incorporated in Singapore) SPECIAL RESOLUTION At an Extraordinary General Meeting of the members of the abovenamed company, duly convened and held at 72 Eunos Avenue 7 #05-00, Singapore 1440 on 28th February 1990 the following Special
      366 words
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      Page 12 Advertisements Column 3
      369 12 VOTICK OFFICIAL NOTICE PROPOSAL TO CHANGE OF SHIP'S NAME We, Straits Shipping Pte Ltd, 15 Hoe Chiang Road, »09-01 Sanford Building, Singapore 0208, hereby give notice that In consequence of our intended change of name of the vessel MV KRIS MELELA', we have applied to the Registrar of Singapore Ships,
      369 words
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      Page 12 Advertisements Column 4
      123 12 TOVOKI INVESTMENTS PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN PURSUANT TO Section 30«<2) of The Companies Act. Cap 50 that the Final Meeting of the Members of the abovenamed company win be hefd at the office of M/s Heng Lee Seng Co. 1
      123 words
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  • Article
    FINANCIAL FUTURES AND OPTIONS
    1415 13 SIMEX Mar 2 EUROOOUAft Open High Low Sett Est Vol Op/lnt Vol Mar 90 91.59 91.59 91.57 91.58 1492 ***** ill59 Jun 90 91.50 91.52 91 48 91.51 6718 ***** 6514 Sep 90 91.41 91.42 91.38 91.42 1574 2913 523 Dec 90 91.23 91.23 91.19 91.23
    1,415 words
  • Article
    COMMODITY PRICES
    1485 13 Rubber MS(fc»tnMI») S CCTtvln Noon Close Int I RSS Prompt 157.00/158.00N 157.00/158.00 Inl t RSS Apr 90 I59.7VI60.25 I59 7VI60.25 Int I RSS May 161.50/162.00 161 50/162 00 Int 2 RSS OP I53.00/I55.00N 153.00/155 OON Int 3 RSS OP *****/149 50N 147 .50/149 50N Int 4 RSS OP
    1,485 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      39 13 GET THEM NOW! I r°f ®o I i •*»?«<« M?':* 4 i fl&iT? &P* fl fl| <* 1 I^Jr% ~^j From Your Newsvendor, Newsstand At Times The Bookshop Published by Times Periodicals Pie Ltd. A member of the Straits Times Group.
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      Page 13 Advertisements Column 2
      15 13 Read Chartpoint, a guide to investing in the stock market. Every Saturday in Business Times.
      15 words
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  • Article
    Lock icon American leading indicators unchanged
    251 14 Reuter THE INDEX of leading indicators, the US government's main barometer of future economic trends, was unchanged in January after rising a revised 0.6 per cent in December, the Commerce Department said in Washington yesterday. Seven of the 11 components that make up the index fell
    Reuter  -  251 words
  • Article
    Govts are owed millions in Drexel's fall
    287 14 MANY foreign governments and Puerto Rico are owed hundreds of millions of dollars as a result of the collapse of the parent of Drexel Burnham Lambert Inc, people at the firm and lawyers said on Thursday. Some of the governments arc owed more
    287 words
  • Article
    Lock icon Billion-S steel mills in the Johore pipeline
    332 14 Reuter A TAIWANESE and a South Korean firm are negotiating to build two giant steel mills worth Msl2 billion in Johore, chief minister Tan Sri Haji Muhyiddin Yassin said in Kuala Lumpur yesterday. The Malaysian partners roped into the projects include diversified group
    Reuter  -  332 words
  • Article
    Giant public database in the offing
    381 14  -  By Jayaram Menon THE ULTIMATE information tool a giant electronic public sector database containing relevant data on the personal and business life of Singapore residents and companies will be ready in three to four years. The database will provide immense savings by providing a
    381 words
  • Article, Illustration
    'China doubts military stability'
    344 14 WESTERN ideas are undermining the stability of China's army, its chief of staff said yesterday in a call for the military to protect the ruling Communist Party from internal and external threats. Foreign diplomats in Beijing said the call reflected fear among China's leaders that they
    344 words
  • Article
    Shahrir wins
    133 14 FORMER Malaysian Welfare Minister and Umno rebel Datuk Shahrir Samad yesterday won his way back into the party's leadership in Johor after winning the state's Umno divisional election. Datuk Shahrir, who obtained 125 votes, beat State Assembly Speaker Datuk Haji Mohamcd Yunos Sulaiman by 38 votes. Haji Mas'ud
    133 words
  • Article
    Lock icon Hyundai to build plant
    112 14 AP HYUNDAI Engineering and Construction Co signed a US$l7O million contract to build a cement manufacturing plant for Indonesia's Semen Cibinong Co, the South Korean contractor announced yesterday. Officials said the contract was signed in Jakarta yesterday between the two companies. They said that Hyundai is
    AP  -  112 words
  • Article
    Lock icon Japan's current account for Jan in the red
    279 14 Reuter JAPAN'S current account dropped into deficit in January for the first time in six years, but economists in Tokyo said the shortfall was unlikely to continue. The current account, the broadest measure of trade in goods and services, was US$636 million
    Reuter  -  279 words
  • Article
    Lock icon Businesses warn of deep recession in Australia
    345 14 Reuter BUSINESS leaders yesterday warned that Australia's debt levels could soon spark a deep recession and called for more prudent debt management and curbs against "cowboy" entrepreneurs. A meeting that ended yesterday was called by the Business Council of Australia to consider solutions
    Reuter  -  345 words
  • Article
    Lock icon Bangkok puts off plan to privatise state bodies
    390 14 AFP THAI Prime Minister Chatichai Choonhavan has postponed a plan to privatise key state enterprises, government spokesman Suwit Yodmani said yesterday. The postponement follows worker protests and a series of crises in the Chatichai government. The privatisation plan, which has led to
    AFP  -  390 words
  • Article
    Lock icon S Korea won higher
    121 14 AFP THE SOUTH KOREAN won reversed its downward trend and firmed against the US dollar yesterday as the currency was floated for the first time in free trading between banks. The won opened at 694 won to the US dollar yesterday, a figure set by the
    AFP  -  121 words
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      166 14 rf-*-) A Treasury of Alpine Pleasures atChesa Hotel Equatorul. Tel: *****31 JOIN US IN Jk A NEW SUNDAY TRADITION. TNI Oil IHTfti SINGAPORE Announcing a new menu sure to add some extra sparkle to your Sundays. Fourchettes, at The Oriental, Singapore, is pleased to introduce their Sunday Champagne Lunch. Join
      166 words
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      Page 14 Advertisements Column 2
      13 14 A Sichuan Culinary Heritage at Golden Phoenix tiukfe" Phoenix Hotel Equatorial. Tct *****31
      13 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon The new iron age
      1170 15  -  It's 6am. Do you know where your golf clubs are? They're in the Jaguar, the Merc, the BMW, the Toyota... heck, you'll even find them in the cab. If you think golf is only for the super-loaded, think again. If it's good enough for a CEO,
      Michael Liew; Picture by Alphonso Chan  -  1,170 words
    • STRAWS IN THE WIND
      • Article
        Culture shock
        79 15 IS nothing sacred anymore? The Japanese are welcome to visit our shores, but twOmale journalists wish thei*! female counterparts would stay out of the gents' loo:While attending to the neces-' sary function at the Mandarin Hotel one lunchtime, the two were stunned when two Japanese women burst in,
        79 words
      • Article
        Nude is passe
        37 15 THE worst has happened in, French nudist camps: people have begun walking around fully dressed, especially the young. Said a 15-year-old girl in a bikini: "When I'm nude the boys don't look at me!"
        37 words
      • Article
        If you have to ask...
        106 15 EVEN rich people want discounts. A number of them have been receiving glossy colour brochures from the people who are trying to sell Donald Trump's lavish yacht, currently docked at the World Trade Centre. Apparently, if you want to try out the Trump Princess for
        106 words
    • OPINIONS
      • Article
        Trailers on a Sunday picnic?
        205 16  -  LETTERS TO THE EDITOR Charles Stephan Managing Director BOS Equipment WOULD IT BE possible for the government to shed some light on the issue of trailers? Trailers are built in Singapore and arc solely used for the carrying of containers or other goods. Containers cannot
        205 words
      • Article
        Making it in New York
        242 16  -  Gurmit Singh THE ARTICLE "Making it in America" (Executive Lifestyle, Feb 24-25) by David Marcfrington contained some inaccuracies. >ln the first place, the US imnilgration authorities make it extremely difficult for non-citizens t6» work after graduation from American universities. Getting a wsrk permit involves a
        242 words
      • Article
        Rates display applauded
        108 16  -  Thomas Thomas Acting President (Case) CASE APPLAUDS the longawaited move by the Association of Banks in Singapore recommending banks and other lending institutions to disclose effective rates of interests charged on loans to the public. The positive reaction of most banks to the recommendation is also commendable.
        108 words
      • Article
        A commentary on the dollars and sense of living 1
        788 16  -  Like all intellectual exercises, business journalism is about choice, says Asad Latif. Asad Latif Asad Latif is Business Times' Foreign Editor. THERE was a time when business journalism, like business itself, could be defined by its exclusivity. The businessman ("man"
        788 words
      • Article, Illustration
        What we need is evolution, not revolution
        1056 16  -  Singapore's bid to be an international design centre may be stymied because everything has been planned to a 'T' in the most scientific and business-like way, leaving no room for Nature to take its course. Suzanne Soh examines the issue. Suzanne Soh Suzanne
        1,056 words
      • Article, Illustration
        Car quota system needs further fine-tuning
        1034 16  -  Quah Soon Tong Quah Soon Tong is a Business Times reader, and owns nine-year-old medium-sized car,* AS A CAR OWNER, I would like to offer some comments on the proposed quota system and suggestions on how to fine-tune the system to make it more
        1,034 words
    • LEISURE
      • Article, Illustration
        Sorry, ma'am, the valley's not for sale
        1704 17  -  Holidaying in Chiangmai? When you're single, contemplating middle age and the one idiot who forgot the playing cards, what's there to do? Do what reluctant sight-seer but obsessive shopper Margaret Thomas did. No strawberry or Chiangmai sausage could escape her Singaporean clutches as
        1,704 words
    • EPICURE 1
      • Article, Illustration
        Lock icon Breakfast at ten-thirty
        824 18  -  Quek Swee Peng decides to gorge herself on bacon and eggs, and pancakes Quek Swee Peng Good morning. I've always been mistaken for a stay-in guest whenever I step into any breakfast room. Must be my sleepy eyes. Breakfast dates at hotels arc usually planned. One of
        (Punch)  -  824 words
      • Article, Illustration
        Are natural foods or our eating habits to blame?
        1035 19  -  Richard Seah examines a recent report by the US Food and Drug Administration. Richard Seah Richard Seah is editor of a health magazine. ORDINARY natural foods, we are told, pose a health risk. According to a recent report by the US
        1,035 words
    • PURSUITS
      • Article, Illustration
        What next, a gold rubber duckie?
        799 20  -  Pssst! Wanna buy a boat? Charles Savage sizes up one that's just right for all aspiring Donald Trumps who've just graduated from floating dinghies in the bathtub. Charles Savage IF IT looks gold, it really is gold. If you were really financially-strapped, volunteer to
        799 words
    • SPORTS
      • Article, Illustration
        Lock icon The party is over, England warned
        323 21 AFP ENGLAND'S jubilant cricketers were busy dousing each r pther with champagne, following their overwhelming first Test victory over West Indies in Jamaica, as the warning went out that their party was already '*t)ver. West Indies captain Viv Richards, his pride shaken at a
        AFP  -  323 words
      • Article, Illustration
        Nanking regatta: Off to Treasure Island
        519 21  -  By Charles Savage MIKE HATCHER had to plumb the depths of the sea to recover the 240-year-old Nanking Cargo but this weekend, seasoned sea salts will only have to master the weather to win one of these treasured porcelain pieces. More than 300 sailors
        519 words
      • Article
        Sporting goods show all set to take off
        354 21 SWISS-BASED World Federation of the Sporting Goods Industry is sponsoring their second international sports equipment fair in Singapore after their first fair last year attracted 3,318 buyers from 54 countries. Manfred Wutzlhofer executive administrator of the Munich Trade Fair Corporation, the main
        354 words
      • SIDE LINES
        • Article
          Lock icon Boston accumulates 83 points, Buffalo 78
          173 21 AP CAM NEELY had two goals and an assist as the Bostao Bruins extended their lead in the NHL's toughest division xc five points with a 5-3 victory over the Montreal Canadians on Thursday night. The win gave Adams Division leader Boston, which the
          AP  -  173 words
        • Article
          Lock icon No stopping the brawling
          89 21 AP APPARENTLY NOTHING will stop brawling in the National Hockey League, says Wayne Gretzky, an outspoken opponent of fighting who took the company line after the Lpis Angeles Kings and Edmonton Oilers battled to league-record 86 penalties. "I've said all I can say about fighting," Gretzky
          AP  -  89 words
        • Article
          Lock icon Leonard wants to fight Hagler
          116 21 AFP SUGAR RAY LEONARD no longer talks about retiring, but the five-time world champion says he needs the proper motivation to fight again and "Marvelous" Marvin Hagler could be it. "At this point in my career, it has to be for a damn good and
          AFP  -  116 words
        • Article
          Lock icon Stock car racing in the blood
          76 21 AP THIRD-GENERATION stock car racer Kyle Petty came up with the first pole position of his Nascar Winston Cup career on Thursday, taking the top spot for tomorrow's Goodwrench 500 at North Carolina Motor Speedway. The 29-year-old Petty, son of seven-time Winston Cup champion
          AP  -  76 words
        • Article
          Lock icon Tested positive for testosterone
          121 21 AP MARK ROWE, a four-time national champion at distances between 400 m and 600 yards, has been suspended for two years from track and field after testing positive for the illegal substance methyl testosterone, The Athletics Congress announced on Thursday. Rowe, 29, tested positive for the
          AP  -  121 words
        • Article
          Lock icon Third 'wild card' team
          103 21 AFP THE NATIONAL FOOTBALL League, which last week decided to stretch the regular season to 17 weeks, on Thursday announced it was adding a third "wild card" team to the play-offs. The addition of an extra "wild card" teams that failed to win their division but
          AFP  -  103 words
      • Article, Illustration
        Lock icon Breland says he's in a corner
        280 21 AFP AMERICAN Mark Breland believes he cannot win whether he makes a successful defence of his World Boxing Association welterweight crown against England's Lloyd Honeyghan or not in London today. "Even if I beat up Honeyghan real bad. they'll just say he was shot
        AFP  -  280 words
      • Article, Illustration
        Lock icon Mark James takes first-round lead
        298 21 AP MARK JAMES of England reeled off five birdies for an outward 4-under-par 33 and finished with a 5-under 67 to take a one-shot lead on Thursday after the First round of the US$6BO,OOO American Express Mediterranean Open. Lan Woosnam of Wales, one of the
        AP  -  298 words
      • Article
        Lock icon Rain, wind and shine
        145 21 AP KRISTI ALBERS, Patty Shechan and Mitzi Edge shot 3-under-par 68s in heavy morning rain and stiff afternoon winds on Thursday to share a two-stroke lead after the first round of the US$5OO,OOO Women's Kemper Open. Weather changed almost by the hole on the par-71, 6,139-yard
        AP  -  145 words
    • ARTS & ENTERTAINMENT 1
      • Article, Illustration
        Understated lessons from an unusual teacher
        527 22  -  By Samuel Ee ONCE in a while, there comes along a movie, unlikely theme, and an even unlikelier lead, but which still manages to ensnare you. Because like a helpless potato in an osmosis experiment, you may become totally absorbed. Even if you're convinced
        527 words
      • Article, Illustration
        When revenge is not fun but sickening
        573 22  -  By Jaime Lye IT USED TO BE that when you saw a movie about a devil, all you needed were a couple of crosses, a good make-up artist and a few well-chosen Latin phrases to turn Lucifer back into a cute 12-year-old with
        573 words
      • Article, Illustration
        A textbook defence by US team
        416 22  -  By Sybil Holloway THE FINAL of the NEC Venice Cup championships which took place in Perth last year produced an exciting close finish between the winner, America, and the runner-up, the Netherlands. Going into the last 16deal segment, the Netherlands was still leading by
        416 words
      • Article, Illustration
        When love letters are read instead of written
        775 23  -  By Samuel Ee DEAR Mr Director. Uh, was that all? I thought I'd come to watch an exchange of love letters, but all I saw was a speech-reading competition. You didn't even try to make a pretence of putting pen to writing
        775 words
      • Article, Illustration
        A score that adds dimension to the theme
        582 23 SOUNDTRACK: Field Of Dreams (Novus) For a film that recommends itself to an idyllic, dream-like fantasy, the music score, by James Homer, is suitably well structured. Throughout the score, Horner employs a recurring melodic thread that weaves in and out of the
        582 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          Like Tyson, Tokyo too can be knocked out
          55 24 DAVID Fuller commenting on the Tokyo stock market crash: "If Mike Tyson can get whipped, what's so invincible about the Tokyo market?", and follows up with this advice: "Don't get caught up in the myth of invincibility or it will be you
          55 words
        • Article
          Shock is the word
          51 24 BRAD Bauer, manager of institutional equity sales at Barclays de Zoete Wedd Securities (Japan), describing the Tokyo stock market's 1,569-point plunge on Monday: "It was incredible," he said. "I don't know how to describe it. It was mainly a feeling of shock for most of the
          51 words
        • Article
          Technical charts all broken
          41 24 STILL on the Tokyo stock market, Toranobu Sugai, a senior trader at Shearson Lehman Hutton Asia, said: "Technical charts are all broken. There's no meaning in laying claim to a bottom support." Probably the first honest comment..
          41 words
        • Article
          Give Gorbachev high marx
          51 24 ALAN Abelson, one of the sharpest commentators on Wall Street, has posed his readers in Barron's a challenge: to string a sentence using the following words Lenin, Marx, Stalin and Gorbachev. His answer "Give Gobachev high marx for not stalin in hanging out his country's dirty
          51 words
        • Article
          No small problem
          123 24 JAPAN, which has served in so many ways as an example for Singapore, does not have an easy solution for the problems arising from an acute shortage of labour. Recently, concern was aired about the future of Japanese small and mediumsized enterprises (SMEs) which are having difficulty
          123 words
      • Article, Illustration
        Try a heady spin on Jakarta's Astra
        716 24  -  ST^K^ By William Chia INVESTORS looking for a bit of excitement in a regional stock t consider PT Astra International's public offer of 30 million new shares to raise 445.5 billion rupiah (US$246 million) on Jakarta's heady stockmarket. It is not that Astra
        716 words
      • Article
        Bargain basement of Hongkong stocks
        578 24  -  By Catherine Ong Hongkong Correspondent THE GOOD news about investing in the Hongkong stock market these days is that despite all the lousy fundamentals, people are turning bullish and jumping in for the bargains. Investment analysts at Morgan Grenfell Asia Partners (HK) describe the Hongkong
        578 words
      • Article, Illustration
        More consolidation likely
        181 24  -  CHART J Ballas TECHNICALLY, although the overall trend remains healthy, the Straits Times Industrial index is trading at the upper levels of the trend channel ABCD. On the Malaysian index chart (ie NST), the overbought position is even more pronounced. The sharp rally in December 1989 (Point
        181 words
      • Article
        Warrants: premiums and gearing
        609 24 Prloaa (as at 2.3.90) Conversion terms (discount) Amount Optional** ualng Company Issusd Wrta Shsrs Ln stk |_natk Gasring 4 (m units) Con* E*sr nom Cash Cssh 1 Ln atk* 0-0 ratio prtos valua S I l C K Tang 16.9 2.380 4.800 1.00 225 -4 2.02
        609 words
      • Article, Illustration
        Yen in technically precarious position
        397 24  -  MONEY By C Dow A/r Dow is an investment manager with a major local publicly listed company THE Japanese have been stimulating their economy and their trade surpluses have finally been shrinking quite sharply and rapidly. The external pressure for a stronger yen should be
        397 words
      • Article
        Lock icon Tokyo investors seek safety in blue chips
        517 25 Reuter TOKYO stock market investors are currently gambling on blue chips because they see few other sure bets on the playing table. "The market has been in the throes of some sort of tantrum, but electricals have been soaring." said Bill Wilder of
        Reuter  -  517 words
      • Article, Illustration
        Lock icon Japanese stocks still on the edge
        797 25 The following three articles examine what is happening to the Tokyo stock market and where it is headed Economist A SURE sign that stockmarkcts in Japan are heading for a nasty fall is when it suddenly becomes cheaper to join a golf club. Caught
        Economist  -  797 words
      • Article
        Lock icon Arbitrageurs blamed for plunges
        351 25 Reuter TOKYO'S stock market plunge has sparked a debate over how much of the blame should be placed on hightech trading techniques imported from abroad. To some extent the issue is lining up Japanese against foreigners. "Arbitrage has the market's nerves on edge," said the Nikkei
        Reuter  -  351 words
      • Article
        Accident, illness cover for maids can save thousands
        548 25  -  By Dexter Lee COVERING your maid against accidcnts and illnesses while she is in your employ is a good move, considering that the cost of medical care can sometimes be in the thousands of dollars these days. And commercial banks recognise this.
        548 words
    • EXECUTIVE JOBS
      • Article, Illustration
        Success formula: 1OOpc hard work, 30pc luck
        1215 26  -  When Koh Juan Kiat first joined the National Productivity Board in 1982, the movement was in its infancy. Seven years later, productivity has become a way of life witn Singaporeans, and Mr Koh, the Board's executive director. At 37, he says his job
        1,215 words
      • Article
        Instant office? Right down to the coffee, mate
        228 26 BARBARA RICHARDS won't sell you the blouse off her back. But she'll rent you her complete office, right down to furniture, fax machines, and secretaries. It's called diversifying into "serviced office space", the latest service offered by Ms Richards' company, Skilltek Services.
        228 words
      • Article, Illustration
        PEOPLE IN BUSINESS
        347 26 I CARLTON HOTEL (S) Pte S Ltd has appointed Raymond Chin as its executive assis- tant manager (projections). Mr Chin will assist in the review of the hotel operai tions. He has held several senior positions in Malaysia and Singapore and was last j with Hilton International.
        347 words
      • Article
        Lock icon Business students reflect world trends
        725 26 NYT EEW graduate schools of business can keep current jrld economic and political trends just by analysing their student rosters, but the Management Education Institute Inc, in Cambridge, Massachusetts, USA, can do just that. The reason? More than 95 per cent of its students come
        NYT  -  725 words
    • THE TRAVEL PAGE
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        AIRCRAFT ARRIVALS AND DEPARTURES
        1024 27 City Flight ETA Flight ETO Abu DhaM GA976 0005 GA896 2305 fcMaM* SQ226 1910 QF81 2105 Amsterdam SQ23 0935 KLB38 2150 KL837 1505 Mm* 0A471 0015 T~" QF16 1820 TE25 1410 TE28 1525 TE25 1640 TE28 1800 SQ338 2025 Bahrah. QF5 2230 RiHtir«r«r GA525 1755 /910
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      • Article, Illustration
        A people on the edge of extinction
        694 27  -  LETTER FROM MOROCCO By Jonathan Clayton A STAR of David scrawlcd on a wall deep inside one of the Arab world's most ancient cities marks the old entrance to the Jewish cemetery of Fez. Behind the padlocked iron doors, rows of whitewashed tombs
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      • Article
        MONEY CHANGER RATES
        154 27 Rates as at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.424 1.434 Canadian dollar 1 560 1.5800 NZ dollar 1.093 1.1420 Sterling pound 3.I0S 3.I2S US dollar 1.8730 1.8780 Local dollars to 100 units of foreign currency Austrian schilling
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        WORLD TRADE EXHIBITIONS
        149 27 Duration Title Venue Organiser Td Duration Title Venue Onaniser Td Mar }-8 Barcelona Barcelona Fcna de (34)3/*****01 Mar 10-18 International Munich GHM Geadtochaft (49)89/***** International Barcelona, Light Fur Fair F.O.I.M. Industries HandwertaaussMar 3-8 International West AMK Berlin (49)30/***** A Handicrafts m hH Tounsm Berlin Ausstellungs- Fl,r Und-Meaaen
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    • TIME OFF
      • Article, Illustration
        MUSIC
        207 28 Jazz Concert by Ensemble T The Goethe-Institut Singapore presents the jazz ensemble 'Y\ The trio of Matthias Frey, Wolfgang Tiepold and Christoph Haberer will play a mixture of electronic and non-electronic sounds which will presumably be musical as well. Venue: PUB Auditorium. Date: tonight. Time: Bpm. Singapore Symphony Orchestra.
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        EXHIBITIONS
        279 28 The Dance of the Orchids Paintings by Tang Juey Lee, which includes the dendrobium, cattaleya, oncidium, the ever variable vanda and phalaenopsis, the last being one of Queen Elizabeth H's favourite flowers. Presented by the Delia Butcher Gallery and The Oriental Singapore. Venue: The Oriental Singapore, Atrium Gallery. Date:
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      • Article
        SPECIALS
        105 28  -  Compiled by Rosmah Amir Kiwi Fair is a Great Fair. An award winning chef from New Zealand, Anthony Smith, will be in Singapore for a Taste New Zealand fortnight fair. Venue: Mandarin Singapore. Date: Mar 7 to 17. An Art Dialogue Tang Mun Kit, Tang Da Wu and art
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      131 15 222 5544 222 8844 Hong Laong MM Stngapor* Ftnaoo* a^Sk^sHbIPS^ES F WTtfr eSBdPJH^K^^fl M js£g Rl* lH>n» PARW.IM I£ATHF.R UXX.E IK REPTILE UOCV PIA7A «EPTII£ HtX'SE MIDORI NAN KA. i t&iFVTAI PARAIHSF PAN MARINA (iIFT SHOP TONG KAI REPTILE STORE METHIiPOUTAN Dl TV FREE SHOP (Kuala Lumpur) CALAN DLTYFREE Subang
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      29 16 Leam to make decor statements the way you make fashion statements. Take a tip from HOME DECOR. FEB-MAR '90 I ffLSSMf Now At Newsstands A Times Periodicals Publication j
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      62 16 DOONESBURY p AS FAR AS BATING GO&, T/H IM&AN. I'M TALKJN' 1 THINK YOUtL BB S££JNG A j| LAYING BACK NOW, BUT Til T£LL ABOUT TOP, TOP TALBNT' MAX* MAJOR STARLET WTTH yOU UJHSNI POGOPORTT.ru. TM TALKJN" VOUNG, BLONP, ME! I HA\£N*T PICKEPH&R YET, AM*. UHATf 06 OffTlNO ONLY TH£
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  • Page 18 Advertisements
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      244 18 GUIDE TO GOOD F00D... GUIDE TO GOOD F00D... GUIDE TO Didn't I see you at Scandals? Hi a i Every Mondav High Fashion Night. Even Thursday: Ladies Night. I Even Night: The place to see and be seen. Scandals. I Singapore's most sophisticated club and meeting place I For details
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      264 18 asbukung APPEARS tonight above SGOTISRO\D till With its spectacular glavs frtmtagc. the Canopy Bar lis the ideal place to see the siarv It's aNo\Singaporc's newest and most exclusive rendezvous The Canopy Bar. upstairs at the Hyatt SUMMY •aRIJSfT-THYEL Our Indonesian buffet features {xsrJPJflBQs tantalizing dishes such as Sop Buntut. Ayam
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      194 18 p 3 xawdc thg» k ■■ninESHH I P rmwiirjJ rr b B II I Cantonese-Thai specialities and I I SIWCA^^E Beadi Road Singapore 0719 W *****11 tontOjwj. /f-w Served nightly from I $15.00 Adult $1050 Child i All pricM »r» «cC>t*ci lo 10% M«vic* ctwg* A 4% om doort**? For
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      Page 18 Advertisements Column 4
      226 18 I FH b u The accent is on France this month at the 189 famed Belvedere Lunch Buffet. 67 tongue- |B| V twisting and mouth-watering French specialiEs ties await you at our tables. Come and savour. In S French Buffet Lunch Sp Mar 1 31. Noon 2.30pm Wt ESS Adult:
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      293 19 GOOD FOOD A Culinary Tribute To Fresh River Salmon. From March 2 to 17, you can enjoy fresh river salmon, specially airflown from Norway, for dinner every night at Hubertus Grill. We offer thirteen sumptuous ways to enjoy this delicacy. So, make a reservation now and enjoy the best Salmon
      293 words
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      12 19 7 > LONDON CAST ACCORDING v'V; \Y MM„,«m».—.«»«—. M— *u»«.*«~ V r I
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      Page 19 Advertisements Column 3
      277 19 The art of doing business. Fourchettes Business Lunch. I At Fourchettes Grillroom, one of Singapore's finest business lunches awaits The freshest oysters. Goose Rillettes and other appeuzers. Main courses from the Grill, or Roast US Prime Rib from the Carvety. j Accompanied by the most exquisite Desserts, Teas and Coffees
      277 words
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      42 22 If you find THE BOTTLE IMPRESSIVE, WAIT UNTIL YOU TASTE THE SCOTCH. jjj'l V; ns g offik I "v jn >v s 1 -I £l# i f -r v mmk' H 75 V v ]Y«m* THE DIMPLE. FROM THE OLDEST DISTILLERS OF
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      53 23 YOU FIND TLE IMPRESSIVE, UNTIL YOU THE SCOTCH. mLyjf l J. H A I G A CO EDINBURCH 9 SCOTLAND UUitiiU;£jij ||^j sol n" IX I I m V Jfwf DC i 1 Jlu'or ,l j l,lli a~*\ «Jr J z. v pirovK y S LE. FROM THE OLDEST DISTILLERS
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      78 24 TT INVESTMENT MARKETS BRIEFING A 3 day course about stockmarket investment, shares, bonds, futures, options etc. Ideal for the private investor or for those working with investment managers, brokers, banks. Hong Kong: 15-17 May. Detail*: Investment Education pic, 62-66 Deansgate, Manchester M 3 2EN, United Kingdom Tel: (0)61 633 9656
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      187 25 fIfjAHC' 1 CALL I 3 IDJI2) SHELL TAKE CARE OF YOUR A NEEDS. 21 3J D Mew 24 Hour r-| r~| rj-| Loan and Information O O Service and Approval Call Hong Leong Finance: '7I "q 1 r <\l *****44 -ZJ -2J -*J Singapore Finance: rjH rjri *****44 ±1 £1
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      127 26 DHL IN THE NEWS Advertisement Pnmniltpr tamer's office. It automatically prepares ViwW VAJII IfJlJlwl airbills, prints shipping labels, weighs farilitV for packages and applies the proper rate ■dUmiy ■v/l based on weight and destination, pror\|J| c ictniTlPrQ vides daily summaries and invoicing for vllwlUl I Iwl O easier accounting, and
      127 words
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      Page 26 Advertisements Column 2
      383 26 Large multi-national company with trading and distribution business in Singapore seeks to expand its consumer products distribution business through acquiring suitable small and medium size local trading and distribution company holding established agency lines of consumer related products. Interested parties please write in confidence to: THE ADVERTISER PO BOX 541
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      59 27 tk The butinn* fXTwxi'i choke ocry Tuctday, g 1 111 l\ m m Thunday, Saturday and Sunday. Leaving Changi I H I I /1 I Airport at 21:55 houn and arriving at O'Hare I II M International Airport the following day CmII your travel agent or Air (jnada at 7)2
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      Page 27 Advertisements Column 2
      108 27 FOR IMPORTERS AND EXPORTERS. —-—> SHIPPING TIMES covers all aspects of Cf) local and international shipping (except, of course, the really technical aspects). The emphasis is on news that is likely to affect the Business Times reader. Covering the latest trends in the shipping markets, we also carry up-to-date news
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  • Page 27 Miscellaneous
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      149 27 1 The old model car in Nor--IFT main there is far ££*2,. from ra in YESTCRMVS SOLUTION more to it than meets the |i |i |i 1 1 1 I 1 ill ill Mll |i |i I 1 1 1 3 Mark'not British mone- 18 <her ,en fish to ca,ch
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      229 27 Singapore OUTLOOK: Showers over several areas in the early afternoon Report for 24 hours poor to 7.30pm on Mar 2 at the airport: Max temp. 34.1 Assoc humidity 53 Min temp 24.0 Assoc humidity 95 Mrs of sunshine 10.10 Rainfall in mm Nil Rainfall this mth Nil Rainy days this
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      14 27 FvjDGe IS Off <3iC< WD SODCC- NL Y l n EALI wa.«— "ill I
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      2012 28 TODAY'S TV 12 00 PM News iM i TJOpm! SBC a i2 100 fnterta4nment The final episode of Fron- <# r/m of the Brain looks at the c j Alff ,fl m facts and examines the theo- iUK/ ?'JJ h,^? ries about dreams. Visiting JITVbRI sleep research laboratory the 4:40
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      461 28 RADIO Evgeni Svetlanov in Tikhon two years world prices have Khrennikov's "Concerto for f^' en dramatically. Yet the Violin and Orchestra No lin f ur industry insists that killBowed Piano" in the pro- n 8 animals for fur is morally gramme. justifiable and makes good Prelude on 5, Radio 5,
      461 words