The Business Times, 18 August 1990

Microfilm: NL17095
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times mci (P) 170/12/89 Weekend Edition, August 18-19 1990 75'
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Dow Jones down
      43 1 NEW YORK stock prices fell steeply in early, heavy trading yesterday, echoing losses overseas amid continued concern about the Middle East. The Dow Jones average of 30 industrial stocks fell 33.67 points to 2,647.77 in the first hour of trading.
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    • Article
      Footsie lower
      48 1 SHARE prices fell in London yesterday morning as investors were preoccupied with developments in the Middle East and the likelihood of higher inflation at home, traders said. At 1114 GMT, the broadbased FT-SE 100 share index was down 29.3 points or 1.3 per cent at 2,192.8.
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    • Article
      Mubarak urges Iraq to settle Gulf crisis quickly
      66 1 EGYPTIAN President Hosni Mubarak yesterday appealed to Iraq to settle the Gulf crisis peacefully before it was too late. There is still time. I'm asking Iraq to respond to the voice of peace to avoid confrontation and the bloodshed which may take
      66 words
    • Article
      Greater automation
      55 1 THE RESPONSE to the government's call for greater automation has been encouraging as evidenced by the number of industrial robots that had shot from only five in 1980 to 309 in 1987 and 800 this year, said Mr Mah Bow Tan, Minister of State for Trade Industry and
      55 words
    • Article
      Thai plans go ahead
      41 1 FLANS for a huge project to build a high-speed railway, highways and oil pipelines across southern Thailand are going ahead despite scepticism among some economists and fears that the Gulf crisis could mean financing problems Page 6
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    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 687.80 -8.34 Kuala Lumpur .362.16 -4.55 Hongkong 3,122.64 -60.65 Tokyo 26,786.72 -762.72 Sydney 1542.7 -14.3 Tharsday Change New York 2,681.44 -66.83 London 2222.1 -17.2
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    • Article
      CURRENCIES
      17 1 Excfcmf rates US$ SS1.7910 Yen SS 1.2142 MS SS0.6652 Overnight 7 -1/8 3-month 6 15/16% +1/8
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    • Article
      COMMODITIES
      32 1 PM fix US$411.50 US$8.90 5*001* Sep.... 158.00'/kg +1.50 NfsiaSep M236.00«/kg 1.50 KL Tin Turnover 74 tonnes +20 Spot..... M$16.00/kg +0.14 Cradt Mm oti Turnover 743 lots -26 Sept M$672 /tonne -4
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  • Article
    PSC share offer next week
    344 1  -  Revised issue to have 23m shares at 70 cents By Magdalene Ng PROVISION Suppliers Corporation (PSC) is launching its delayed share offer next week on revised terms 23 million shares at 70 cents each instead of the originally planned 30 million shares. The firm was
    344 words
  • Article, Illustration
    Lock icon Body language
    35 1 US Secretary of State James Baker (left) and Jordan's King Hussein looking in opposite directions as King Hussein talks to the press after meeting US President Bush on Thursday. Renter picture Reuter picture
    Reuter picture  -  35 words
  • Article
    KIO resumes trading in S'pore
    232 1 THE Kuwait Investment Office, the London-based investment holding company of the Kuwaiti government, has taken the stock market by surprise by resuming trading in Singapore. The company, which a fortnight ago informed brokers worldwide that selling any of its assets would be illegal, spent just
    232 words
  • Article
    Share prices drop worldwide
    260 1 SHARE PRICES sank around the world yesterday, in the wake of another sharp decline on Wall Street on Thursday. On the currency markets, the US dollar touched new record lows against the German mark and Singapore dollar. Concern about the Middle East and the frailty of
    260 words
  • Article
    Lock icon Iraq withdraws from Iran, frees POWs
    415 1 Agencies EVENTS in the Middle East took an ominous turn yesterday with Iraq freeing Iranian war prisoners and withdrawing from Iranian territory, and President George Bush ordering US warships to besin using force immediately if necessary to enforce a blockade of Iraq and occupied
    Agencies  -  415 words
  • Article
    Hotel occupancy lower than expected in May
    325 1  -  *1 Suzanne Soh HOTEL OCCUPANCY was below expectation in May, another sign of the softening of the tourism market. Figures released by the Singapore Tourist Promotion Board (STPB) yesterday show that average occupancy rate of hotel rooms was 80.2 per cent in that
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      115 1 HrlßMi I b KISH; Dennis BBS EL 1 Atfcraft Schedule EL 11 Ccmmodrties 15 Cryptic Crossword 1111 Futures Options 14 Home News 2 HK Tokyo Stocks 11 Interbank Fore* Rates 14 KLSE 10 Money Changer Rates EL 11 Money Market 14 It H- C K6£)On<f fWWS D Regional Stock Markets
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      Page 1 Advertisements Column 2
      49 1 LIFESTYLE Sweetening the world with NutraSweet. EL 3 raBjSJBHj Caring chefs 9 crowning glory. EL 5 OPINIONS The economy: a turn to pull, a time to hold. EL 2 NS length was crux of that speech. EL 2 US June trade deficit falls to a seven-year low, Back Page
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      Page 1 Advertisements Column 3
      275 1 MWM SPORTS Where have all tht Americans gone? EL 7 Agassi serves notice. EL 7 JOBS The benediction of Benedicto, businessman-turned-ambassador. EL 8 FINANCE i' Time's ripe to pick*' I up stocks. EL 9 Gold: has It lost Hs |i crisis appeal? EL 10 Bush, Hussein feil to make progress,
      275 words
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Former St Joseph's to be converted to art gallery
        99 2 THE FORMER St Joseph's Institution at Bras Basah Rd will be converted into a national art gajlery at a cost of $19 million. This was announced by Minister for Community Development and Foreign Minister Wong Kan Seng yesterday when he opened
        99 words
      • Article
        Toa Payoh credit card scheme
        83 2 TOA PAYOH today becomes the first Town Council to accept credit and charge card payments. Announcing this yesterday, Minister for Foreign Affairs and Community Development Wong Kan Seng, who is also MP for Toa Payoh GRC (Kuo Chuan), said residents would be able to use
        83 words
      • Article
        Call to upgrade apprenticeship
        82 2 A VISITING expert on pedagogic training of industry trainers has suggested that Singapore improve the quality of apprenticeship training so that Vocational and Industrial Training Board (VITB) trainees can opt to further their studies at the universities or polytechnics. Professor A Lipsmeier, director of the Institute
        82 words
      • Article
        Total Defence Awards
        78 2 CIVIL RESOURCE owners and employers of the Singapore Armed Force reservists who have strongly supported Total Defence will have their contributions acknowledged by the Ministry of Defence at a ceremony at the Temasek Club next Monday. First Deputy Prime Minister Goh Chok Tong will present the Total
        78 words
      • Article
        Prontoprint's official opening
        70 2 PRONTOPRINT Singapore, an international group offering anything from colour copying and printing to turnkey graphics design and creative desktop publishing services, will be officially opened in Singapore next Tuesday. Prontoprint is a franchise operation started in the UK almost 20 years ago as a chain of quick
        70 words
    • Article, Illustration
      Encouraging response to call for more automation
      292 2  -  By Conrad Raj THE RESPONSE to the government's call for greater automation has been encouraging and is even catching on in traditional industries such as the garment sector. One indicator, said Mr Mah Bow Tan, Minister of State for Trade Industry and Communications
      292 words
    • Article
      Five named President's Scholars
      238 2 FIVE STUDENTS have been named President's Scholars this year, two of whom will read English in the United States. The latter are Lucy Tay Sui Leng and Dawn Yip LiYan. Lucy, daughter of the Senior Minister of State for Education Dr Tay Eng Soon, will study
      238 words
    • Article, Illustration
      Takashimaya to test market with boutique
      303 2  -  By Suzanne Soh TO TEST the local market before its giant department store opens in Ngee Ann City in 1993,-Takashimaya of Japan will open its first boutique here in October. The boutique, at Overseas Union Bank Building in Raffles Place, will be the vehicle
      303 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      424 2 Kappd Wfe Bain "I -W VVM 04A11 R33 19.08/0600 Conbnent 1 7/90 R34 Mwpiii 20.08/0500 Kjtfwng 9005 R29 atongside 21.08/2300 Rod Peton E-868 R32 alongside 18.08/2300 Ocaama Quae Arrow Prmce at K30 atongsde 17.08/1830 2512 K18 17.08/1200 18.08/1500 Rota Benar E-864 R31 18.08/1900 23.08/1830 L—nnm ***** R30
      424 words
    • Article
      CONTAINER SCHEDULE
      1145 2 ggjjjgjj OF EXPOKT Fa COHTMHERS MID la CWWO Record Ms Sip Voy No Period From To From f «l Ok&I Sp*« Aft Pnde ***** 2 17/1700 18/0659 18/0900 4 18/1200 18/1459 18/1700 B Dahta 153 1 17/1500 17/1659 17/1900 B Ken*** 683N 1 17/1500 17/1659 17/1900 2 17/1700
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    • Article
      IN MALAYSIAN PORTS
      188 2 Pit Kl—g South Port on Aug 17: Andreas 2 berth 1; Soon Hoe berth 2; Hong Soon berth 3; Sang Thai Ruby berth 3, Meiaka Jaya 3 berth 4; Luconta berth 7; Hung Lee IV berth 7A. KCT: Wai Hai berth 8; Bunga Dahfca berth 9; Singapore
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  • Page 2 Advertisements
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      AHL to buy 55pc stake in British lens maker
      479 3  -  By Lee Han Shih LISTED Ambassador Holdings Ltd (AHL) has decided to make a major investment in an indebted company in the United Kingdom as "part of its strategy of searching for suitable investments to broaden its earnings base". AHL said
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    • Article
      Telecom puts up another remarkable performance
      382 3  -  By A J Leow SINGAPORE Telecom has turned in a sterling performance for its financial year ending March 31, 1990, adding to its unblemished track record as one of the Republic's most successful statutory boards. Telecom's net group surplus jumped 53 per cent to
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    • Article
      Lock icon D&C Bank turns in much higher pre-tax profit
      275 3 Bernama DEVELOPMENT and Commercial Bank Bhd (D&C) recorded a 590.6 per cent rise in group pre-tax profit to M 535.87 million for the six months ended June 30, 1990, compared with a profit of M 55.19 million in the same period last
      Bernama  -  275 words
    • Article
      Warrants: premiums and gearing
      627 3 PHc#s 16.8.90) Coovtfiloo ttnw PtniuitV Expiry Company taau* Wrte 8her» Ln.tK QmUno* (munto) Conv Emt CmIi Cuh< Lne* 1 "J? rate ariw WMPv t > C4C Wl 37.5 1570 3.800 T3T 100 23 2.42 26.4.93 32 Causeway Inv 72 0.600 1.400 0.780 1.00 1.00 1.00 14
      627 words
    • Article
      Emporium Holdings sets its sights overseas again
      426 3  -  By William Chia SINGAPORE department store chain Emporium Holdings is planning to expand overseas again, especially to Malaysia and Indonesia. Group managing director B L Teh said Emporium Holdings is currently negotiating with various parties in Malaysia for retail space to set up
      426 words
    • Article, Illustration
      MHE expects to achieve 20-30pc growth
      446 3  -  By Conrad Raj MATERIAL Handling Engineering (MHE) is confident of growing at between 20 and 30 per cent over the next five years with turnover reaching $40 million by 1992 from just over $16 million last year. Disclosing this at the opening of its
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    • COMPANY BRIEFS
      • Article
        Inchcape purchases US steamship agency
        39 3 INCHCAPE has acquired Southern Steamship Agency, which is a major tramp and liner agency based in Mobile, Alabama. The agency has 35 offices throughout the US. Its projected annual turnover is about US$35 million.
        39 words
      • Article
        JSL changes name
        28 3 JSL Services Pte Ltd, a wholly-owned subsidiary of Jurong Shipyard Ltd, has changed its name to JPL Corporation Pte Ltd with effect from Aug 2.
        28 words
      • Article
        Pilecon buys Causeway shares
        49 3 PILECON Engineering Bhd says it has purchased 3.477 million shares of Causeway Investment lid, amounting to an 11.14 per cent equity holding in the Singapore public-listed company. Pilecon said it made the purchase on Thursday on the open market, paying 554,172,400 or 551.20 per share.
        49 words
      • Article
        IGB issue oversubscribed
        79 3 IGB Corp Bhd says its one-for-three rights issue of 80.350 million 50-sen shares has been oversubscribed by 771,49? shares. It added in a statement that acceptances for 78,387,244 shares were received, while excess share applications totalled 2,734,254 shares. It also said the rights issue of convertible unsecured
        79 words
      • Article
        Granite gets approval
        80 3 GRANITE Industries Bhd said yesterday that the Malaysian Ministry of Trade and Industry had approved its proposed purchase of a 29.08 per cent stake in PDL Wylex Sdn Bhd. It added that approvals were still needed from the Capital Issues Committee, its shareholders and those of PDL,
        80 words
      • Article
        Pacific Chemicals profit
        45 3 PACIFIC Chemicals Berhad yesterday reported a consolidated pre-tax profit of M 5273,000 for the half-year ended June 30, 1990, against M 5495,000 in the previous corresponding period. Its turnover during the period shrank to M 58.737 million from Msl 1.188 million previously.
        45 words
      • Article
        Listing granted
        45 3 THE Kuala Lumpur Stock Exchange said yesterday that the extra 11 million new shares of Msl each in KFC Holdings (M) Bhd, issued pursuant to its bonus issue, will be granted a listing and quotation with effect from 1 lam on Aug 23.
        45 words
      • Article
        Taiping acceptance urged
        76 3 TAIPING Consolidated Bhd shareholders have been advised to accept Inter-Pacific Industrial Group Bhd's offer for the rest of the Taiping Consolidated shares it does not own. Rakyat Merchant Bankers Bhd, the independent adviser to the minority shareholders of Taiping Consolidated, said they should accept the offer of
        76 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      90 3 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS m Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. t ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional
      90 words
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Beazer units win Thai expressway deal
        86 4 ,A JOINT VENTURE of three Asian units controlled by UK-based Beazer pie has won a HKS47O million contract to build two major sections of a new expressway in Bangkok, Hongkong-listed Beazer Asia Ltd said in a statement. Beazer pic owns 60.32 per cent of
        86 words
      • Article
        Puma expects 3.6m mark loss
        64 4 'WEST GERMAN sports footwear maker Puma warned on Thursday that it was expecting a loss of 3.6 million Deutschemarks in the first half of this year. The increase of the loss over last year's consolidated deficit of 2.6 million marks was the result of a
        64 words
      • Article
        Chief executive for Suchard
        72 4 PHILIP MORRIS Cos Inc announced the appointment of Raymond Viault as chief executive officer of Jacobs Suchard AG, the Swiss chocolate and coffee group it acquired recently. Mr Viault, a US citizen, has been president of Maxwell House Coffee Co and vice-president of General Foods USA,
        72 words
      • Article
        Lion board approves purchase
        79 4 LION NATHAN Ltd said its board had approved the deal to buy Bond Corp Holdings Ltd's breweries, valued at AS 1.44 billion, in a joint venture with Bell Resources Ltd. The Lion board met late on Thursday night. The company said it did not envisage the
        79 words
      • Article
        Elders resignations
        63 4 ELDERS Resources NZFP Ltd said chairman John Elliot and chief executive Geoff Lord had resigned from the board, effective immediately. Richard Carter, executive chairman of Carter Holt Harvey Ltd, has become ERNZFP chairman, the company said in a statement. Earlier, Elders IXL Ltd said it had completed the
        63 words
      • Article
        Takeover of Adidas approved
        52 4 WEST GERMANY'S Federal Cartel Office has approved the takeover of the West German sports good maker Adidas AG by the French entrepreneur Bernard Tapie. Mr Tapie announced in July that he would acquire 80 per cent of Adidas for 1.6 billion French francs from the founding
        52 words
      • Article
        Controversial Texas buy
        46 4 THE CHAIRMAN of the Taiwan-based Formosa Plastics Group, Y C Wang, has purchased 82,600 hectares of land in South Texas in an area where the company has proposed a controversial expansion of its polyvinyl chloride plastics and chemicals plant, a company spokesman said.
        46 words
    • Article
      Lock icon Bumble Bee trims Puerto Rico operations
      135 4 Reuter BUMBLE BEE Seafoods Inc, owned by Unigroup of Thailand, said it will cease sec-ond-shift production at its Mayaguez, Puerto Rico, processing and canning facility, eliminating about 800 jobs. The cannery will continue to operate with over 1,000 employees, remaining the largest albacore canning
      Reuter  -  135 words
    • Article
      Lock icon Seoul blocks Samsung's plan to assemble trucks
      354 4 Reuter SOUTH KOREA has turned down an application by Samsung Heavy Industries Co, a member firm of Samsung Group, to assemble large trucks, cement mixers and tractors from 1991, trade ministry officials said. 'The government has decided to delay until October 1991 a
      Reuter  -  354 words
    • Article
      Lock icon Exxon says only US$2b of tax bill in serious dispute
      467 4 NYT EXXON Corp has received a bill from the US Internal Revenue Service for nearly US$7 billion for the years 1979 through 1982. It said, however, that the amount in serious dispute was $2 billion, which grew out of an
      NYT  -  467 words
    • Article
      Lock icon Pentos to buy Hatchards in £10.5m deal
      287 4 FT THE CONSOLIDATION of British book retailing took another step forward on Wednesday when Pentos, which owns Dillons Bookshops, said it would buy the Hatchards Group for £10.5 million. The Hatchards Group is being sold by Harper Collins Publishers, the book publishing arm
      FT  -  287 words
    • Article
      Lock icon Hewlett-Packard moves PC HQ to France
      538 4 NYT IN A MOVE reflecting the growing importance of the European market, HewlettPackard Co said it was moving the headquarters of its personal computer group from Sunnyvale, California, to Grenoble, France. Hewlett-Packard also reported declining earnings on Thursday for its third quarter. Shares in
      NYT  -  538 words
    • Article, Illustration
      Lock icon Dunhill may sell business in US to Bergdorf Goodman
      492 4 NYT ALFRED Dunhill of London, the English retail chain that specialises in gifts, clothing and tobacco products for the affluent, will soon close its longtime custom-made men's clothing operations at its New York flagship and Beverly Hills, California, stores. Clothing industry
      NYT  -  492 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      156 4 bt SURVEYS Looking Wider, Thinking Deeper Some sutflects are of such interest to our readers that they demand more space and more research than can he given in our dally reporting. As part of BT's overall service we have always recognised this and taken the necessary steps. Filling the gap
      156 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon CME to list Nikkei 225 index
      350 5 Reuter THE CHICAGO Mercantile Exchange said it will launch futures and options on futures on the Nikkei 225 Japanese stock index on September 25. 'The start of trading of Nikkei futures and options at the Chicago Mercantile Exchange symbolises the globalisation of the world's
      Reuter  -  350 words
    • Article
      Lock icon Allow more foreign banks, Canberra urged
      181 5 AFP AUSTRALIA should stop restricting the number of foreign banks allowed to operate, European Commission Vice President Leon Brittan said yesterday. Sir Leon told reporters his views had received a "sympathetic hearing" from Australian officials. "It's difficult to see why there should be a
      AFP  -  181 words
    • SMALL CHANGE
      • Article
        Thai banks post sharply higher interim profits
        153 5 THAILAND'S 15 local commercial banks increased their combined net after-tax profits by 94 per cent during the first half of this year against 30 per cent growth for the same period last year, Bangkok Bank Ltd said. The bank said in a report
        153 words
      • Article
        SEC favours new rule
        70 5 THE Securities and Exchange Commission on Wednesday unanimously approved for public comment a new rule that would allow foreign banks and insurance companies to offer their stock and debt securities to US investors. The proposal would exempt foreign banks and insurance companies from registering as investment
        70 words
      • Article
        Sumitomo's stake in Dah Sing
        117 5 SUMITOMO Life Insurance Company has agreed to buy 9.09 per cent of enlarged capital in HK-listed financial services firm Dah Sing Financial Holdings Ltd for HK5113 million, Dah Sing said in a statement. In an agreement signed on Thursday by the two companies, Sumitomo said
        117 words
      • Article
        UK banks' provisions rising
        86 5 The four UK clearing banks are expected to increase their provisions against domestic loans in the 1990 second half after raising reserves against these loans to almost £2 billion in the first six months, according to the Bank of England. However, the clearing banks are not
        86 words
    • Article
      Lock icon US life insurance firms still face barriers in Taiwan
      343 5 Reuter US LIFE insurance companies thought they had won the war when they obtained permission to enter the potentially lucrative Taiwan market. But four yean after Taiwan finally opened its doors, the newcomers still struggle to secure a foothold on the
      Reuter  -  343 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      176 5 f i Local Service Global Strength A Winning Combination 1 > The Board of Directors of British American Life Assurance Company Pte Ltd are pleased to announce that the company is now a subsidiary of John Hancock International Holdings, Inc., the international arm of John Hancock Mutual Life t Insurance
      176 words
  • Page 5 Miscellaneous
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  • THE REGION
    • NOTE BOOK
      • Article
        Asian nations urged to open up markets
        106 6 U§ SECRETARY of Agriculture Clayton Yeuttcr yesterday naiwi on Asian signatories of the General Agreement on Tariffs and Trade (Gatt) to open their markets to agricultural goods. He said positive moves on agriculture by Asian countries would contribute greatly to the success of
        106 words
      • Article
        Call to motivate hotel staff
        103 6 MALAYSIA will continue to experience acute manpower shortage in the hotel industry if efforts are not taken to stop workers leaving for better job offers in neighbouring countries, National Productivity Centre (NPC) chairman Tan Sri Azmasn Hashim said yesterday. Malaysians are most sought after by
        103 words
      • Article
        US stand on Cambodia
        64 6 US SENATOR Richard Lugar on Thursday defended Washington's about-face on the Cambodian conflict and said his government would like to help solve the Cambodian conflict. "We do see it's a very important issue and we want to play a role, perhaps an important role depending on
        64 words
      • Article
        Ferry service launched
        50 6 MALAYSIA and Thailand have launched a ferry service lihkjng Pengkalan Kubur in Kelantan with Takbai in southern Thailand. The ceremony was officiated jointly by MaTaysian Defence Minister, Tengku Ahmad Rithauddeen, and the supreme commander of the Royal Thai Armed Forces, Gen Tan Sri Sundhara Kongsompong on Thursday.
        50 words
    • Article, Illustration
      Lock icon Indian minister rules out war with Pakistan
      271 6 AP DESPITE anxiety in Washington that India and Pakistan are on the brink of war over Kashmir, "so far as India is concerned, the question of war doesn't arise", Indian External Affairs Minister Inder KGujral said on Thursday. However, he described the recent
      AP  -  271 words
    • Article
      Lock icon Labor Party facing opposition over privatisation plan
      301 6 AFP THE RULING Labor Party is facing its messiest ideological brawl for years in the runup to a conference that will decide next month whether to sanction Australia's sale of the century. At stake is at least As2s billion of assets in two
      AFP  -  301 words
    • Article
      Lock icon India to raise job quotas for lower castes
      485 6 AFP THE INDIAN government on Thursday accepted a recommendation to hike government job quotas for India's lower castes despite opposition from influential Hindus who argue that it oould trigger social strife. Violence greeted the announcement in eastern Bihar, India's most caste-ridden and
      AFP  -  485 words
    • Article, Illustration
      Lock icon Going wild and angry over fur
      41 6 A group of protesters marching against the fur trade at a rally in Sydney's George Street yesterday. The day had been designated "Fur-free Friday w by opponents of the fur trade. Reuter photo Reuter photo
      Reuter photo  -  41 words
    • Article
      Lock icon Sarawak aims to be major agricultural producer
      273 6 Bernama THERE are plans afoot to turn Sarawak, a major exporter of timber and oil, into the largest producer of agricultural products in Malaysia. Sarawak's Chief Minister Tan Sri Abdul Taib Mahmud and the Palm Oil Research Institute of Malaysia (Porim) are the
      Bernama  -  273 words
    • Article
      Lock icon Thais push ahead with southern seaboard plan
      639 6 Reuter PLANS for a huge project to build a high-speed railway, highways and oil pipelines across southern Thailand are going ahead despite scepticism among some economists and fears the Gulf crisis could mean financing problems. Government planners say a feasibility study for the
      Reuter  -  639 words
    • Article
      Lock icon Gulf crisis expected to affect HK more than Asian export rivals
      496 6 AFP HONGKONG exporters may lose out to their key Asian rivals amid economic threats posed by the Gulf crisis, said financial analysts. Surging shipping costs are in the pipeline for US-bound Asian exports and an economic slowdown is expected
      AFP  -  496 words
    • Article
      Lock icon Manila delays domestic oil deregulation
      244 6 AFP THE Philippine government is postponing the deregulation of domestic oil prices because of the Gulf crisis, and is being pressed to put off tariff reform, a senior official said yesterday. Deregulation and tariff reform are two major components of a new economic programme launched
      AFP  -  244 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      366 6 NOTICES M THE MATTERS OF THE COM 3 AMES ACT (CHAPTER 50) AND M THE MATTER OF GPGUAN ENGMEERMG PTE LTD (Incorporated In the Republic of Singapore) (In Voluntary Liquidation) (NOTICE OF MEMBERS' VOLUNTARY WINDING-UP) NOTICE 18 HEREBY GIVEN lhat pursuant to Subsection (1) of Section 290 of tie Companies
      366 words
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  • THE WORLD
    • Article, Illustration
      Lock icon Bush, Hussein fail to make progress
      654 7 Impact of Iraq's invasion of Kuwait NYT PRESIDENT George Bush and King Hussein of Jordan failed on Thursday to make significant progress towards easing the Middle East crisis, and Bush was apparently unable to win iron-clad assurances from the king that he would halt
      NYT  -  654 words
    • Article
      Lock icon World expected to weather oil crisis well
      185 7 Reuter THE International Monetary Fund and World Bank expect the world economy to weather the latest oil shock without suffering a wrenching recession, monetary sources in Washington said on Thursday. The 40 per cent jump in oil prices since Iraq's invasion of Kuwait
      Reuter  -  185 words
    • Article
      Lock icon Saudis may act alone if Opec partners dither
      535 7 Reuter SAUDI ARABIA'S call for an urgent Opec meeting to avert oil shortages during the Gulf crisis is a clear warning that the world's largest crude exporter is ready to act alone, Gulf Arab officials and Western oil analysts say. Saudi Oil
      Reuter  -  535 words
    • Article
      Lock icon America losing market share in telecommunications: report
      431 7 Reuter THE US telecommunications industry remains a world leader in high-technology products but sale of its low-end goods is down, causing a loss in overall global market share, a Commerce Department report said on Thursday. Under Secretary of Commerce Michael Farren said "the
      Reuter  -  431 words
    • Article
      Lock icon Heated debate over private business in China
      314 7 Reuter CONFLICTING signals in the media over China's attitude towards private business is the latest twist in a leadership tussle over the economy's most dynamic yet controversial sector, said foreign diplomats in Beijing yesterday. Last week, the official China Daily newspaper quoted officials
      Reuter  -  314 words
    • Article
      Lock icon Indonesia cuts September oil supply to Japan
      289 7 Reuter INDONESIA'S state oil firm Pertamina has told Japanese term buyers that it will supply 150,000-155,000 barrels per day (bpd) of crude oil to Japan in September, down from around 170,000 bpd in August, industry sources in Tokyo said. Pertamina did not give
      Reuter  -  289 words
    • Article
      Lock icon Yeltsin, Gorbachev to salvage plan
      177 7 AP RUSSIAN leader Boris Yeltsin said on Thursday that he and Soviet President Mikhail Gorbachev were interrupting their summer trips and returning to Moscow to salvage their emergency plan for rescuing the Soviet economy. Yeltsin, president of the Russian republic, on Wednesday broke off his
      AP  -  177 words
    • WORLD WATCH
      • Article
        Wages in Britain rise
        105 7 AVERAGE earnings in Britain rose 10 per cent in the year to June and the number of jobless increased for the fourth, month in a row, according to figures released on Thursday. The UK employment ministry said that the increase in earn-' ings, up from a
        105 words
      • Article
        Where's the beef?
        99 7 JAPAN'S beef imports will likely decline in fiscal 1991 when the country eliminates its beef-import quota in favour of ft 7<> per cent tariff. Japanese officials in Tokyo said that in a 1988 agreement with the US, Japan is to do away with its quota one beef
        99 words
      • Article
        Brazil's privatisation list
        68 7 THE Brazilian government on Thursday named the 10 stateowned companies earmarked for privatisation by the end of. this year. Five of the companies are in the steel sector, four in petrochemicals. The chairman of the government commission responsible for the privatisation programme, Eduardo Modi-' a no, said
        68 words
      • Article
        Call to 'forgive' debts
        61 7 PLEAS to freeze or foqpve East German corporate debt-toe growing, although economists believe this alone will not beenough to help troubled firms survive. "Forgiving debt could! provide a certain relief, but it will not solve the problems of East Germany's economy," said" Commerzbank economist Peter Pietsch.
        61 words
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      189 7 t f Ufine CARPETS,; THEroUNDim O* r I for the j Discerning Buyer j npHnmH SBHHI^Hi H HHfl ffWBBWa U Tlim tI K ■Saul Pwal Bfi kflfl I RARE OLD A NEW OLD TRIBAL AUTHENTIC PERSIANS AFGHANS SflflHBHBHj I 2 wm*z+z+T*fm NEW PAKISTAN TIENTSIN WOOLLEN/ J PERSIAN SHANGHAI SILK BOKHARA
      189 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Weak Wall Street rubs off on Singapore
      4581 8  -  By Abdul Hadhi WEAK SENTIMENT in Tokyo and Wall Street affected the Singapore stockmarket yesterday, causing share prices to close lower. Continued concern over tension in the Gulf and rising oil prices kept most institutions on the sidelines. Brokers said retail investors were
      4,581 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4021 9 Main Board Poiytek 50» 145 +17 +13.3* Haw Par 269 +12 +4.7% Aetna 222 +12 +5.7% NOL Prcf 10* 555 +10 +1.8% Spore Bus 500 500 +6 +1.2% Spore BusF 500 500 +6 +1.2% SPH Foreign 925 +5 +0.5% Asia Pacific 900 +5 +0.6% Jsetan
    4,021 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Late buying lifts prices off the day's lows
      3609 10 others 2.130 million. Bernama, Reuter MALAYSIAN share prices recovered to close off the day's lows yesterday on late bargain-hunting and covering ahead of the weekend, brokers said. Prices had earlier weakened in sympathy with sharp losses in Tokyo and on Wall Street,
      others 2.130 million. — Bernama, Reuter  -  3,609 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nikkei down 762.72 points in volatile trade
      2266 11 Reuter TOKYO STOCKS closed sharply lower yesterday after concerns over the Mid-east crisis and thin summer volume made for a day of volatile trading. The benchmark Nikkei charted a net loss this week and brokers predict more volatility and possible further declines next
      Reuter  -  2,266 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Tokyo sell-off sends Hang Seng lower
      2410 11 Reuter A SHARP SELL-OFF in Tokyo undermined confidence in Hongkong yesterday and share prices slid at the open, marking only a small recovery during the rest of the day's trading. The blue-chip Hang Seng Index shed 60.65 points (1.91 per cent) to close at
      Reuter  -  2,410 words
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  • REGIONAL STOCK MARKETS
    • Taipei stocks post record percentage loss
      • Article
        AUSTRALIA
        1023 12 THE AUSTRALIAN stock market finished sharply down yesterday after negative news from building giant CSR flowed through the market and halted an early recovery. Brokers said the market had held its ground earlier amid heightened tension in the Gulf and sharp falls in New York and Tokyo, but news
        1,023 words
      • Article
        TAIPEI
        402 12 TAIWAN STOCKS yesterday fell 6.8 per cent, a record one-day percentage loss, as investors were thrown into turmoil by Tokyo's losses and news that Saudi Arabia would cut oil supplies to Taiwan, dealers said. The weighted index lost 292.72 points to close at 4,010.56. Turnover was thin at NTS
        402 words
      • Article
        SEOUL
        792 12 SEOUL STOCKS fell after a weak opening yesterday but intervention by the market stabilisation fund recouped most of the moming falls. The composite index closed at 623.90, down 1.13 points from Thursday's close. Turnover was 131.1 billion won compared with 136.8 billion. "I don't think it's technically impossible for
        792 words
      • Article
        BANGKOK
        661 12 THAI STOCKS slipped across the board yesterday in bearish sentiment sparked by falls in Tokyo and profit-tak-ing on Thursday's rally, brokers said. The composite SET Index lost 13.38 points to close at 920.75 in active trade. Declines led advances 130 to 29. Most active were North East Products, Asia
        661 words
      • Article
        MANILA
        518 12 PHILIPPINE SHARES slid across the board yesterday as buyers retreated to the sidelines on uncertainty about the Gulf crisis, brokers said. The Manila Stock Exchange composite index closed at 835.07 points, down 9.26 from Thursday. Losers outnumbered gainers on the two bourses 61 to seven. Combined trade turnover on
        518 words
      • Article
        NEW ZEALAND
        414 12 NEW ZEALAND SHARES ended low- er yesterday and the outlook for next week, with rising domestic interest rates and increasing uncertainty in the Gulf, was bleak. The Barclays index estimate ended 19.84 points lower at 1,653.48 on low turnover. Higher interest rates were cited as the main reason
        414 words
      • Article
        BOMBAY
        74 12 BOMBAY share prices closed mixed on renewed profit-taking yesterday triggered by rumours that the government may introduce an interim budget shortly. "There are fears of fresh taxes and possible cuts in imports to meet the costs of rising oil prices," one broker said. The Bombay Stock Exchange index fell
        74 words
      • Article
        Untitled
        906 12 Close Pin tow A* 17 SYDNEY All Ordinaries Index 1542.7 1557.0 -14.3 All Industrials Index 2299.7 2337.0 -37.3 All Resources Index 953.0 951.5 +1.5 Turnover (million) 103.23 80 53 +22.7 BANGKOK SET Index 920.75 934.13 -13.38 Turnover (nearest TOO) NA 75,924 JAKARTA Composite Index Closed 585.15 Turnover (nearest *000) Closed
        906 words
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  • WORLD STOCK MARKETS
    • Dow falls sharply on renewed Gulf worries
      • Article, Illustration
        NEW YORK
        1138 13 WALL STREET stocks skidded on Thursday as oil prices jumped after Iraq's president hinted at a prolonged conflict in the Middle-East. The Dow Jones industrial average fell a sharp 66.83 points to 2,681.44. In the broader market, declining issues swamped advances nearly four to one on moderate New
        1,138 words
      • Article, Illustration
        LONDON
        865 13 LONDON'S FTSE 100 share index had slumped 38.7 points, or 1.7 per cent, to 2,183.4 by 1144 GMT yesterday in a continuing reaction to worldwide market weakness and rising tension in the Gulf. "We're still very much in the eye of the storm waiting for any news of real
        865 words
      • Article
        AMSTERDAM
        307 13 DUTCH SHARE PRICES skidded lower in fairly active morning trade yesterday with tumbling prices on exchanges worldwide setting the tone, dealers said. "No one knows what's going to happen in the Gulf and the situation seems to be worsening with Bush and Saddam Hussein exchanging insults," one dealer said.
        307 words
      • Article
        FRANKFURT
        280 13 THE FRANKFURT DAX share index hit a 1990 low at 1,665.88 yesterday on continued worries about the impact of Gulf conflict on prices, interest rates and economic growth. German shares followed the trail mapped out by Wall Street and Tokyo as operators saw increased chances of the Gulf crisis
        280 words
      • Article
        TORONTO
        221 13 TORONTO STOCKS closed flat from early losses on Thursday after an escalation in the war of words over the Mid-dle-East between the US and Iraq boosted oil and gold shares, dealers said. "It looks like... the two sides are digging in for a long fight," said Don Vialoux. The
        221 words
      • Article
        MILAN
        158 13 THE ITALIAN share price index yesterday tumbled 3.8 per cent to a new low for the year mirroring the stampede to sell seen on other European bourses, brokers said. "Really it is the same story as elsewhere fear the Gulf oould explode any moment along with worries about inflation
        158 words
      • Article
        JOHANNESBURG
        434 13 JOHANNESBURG gold shares were steady at their sharply higher opening levels at noon yesterday, propped up by a steep rebound in volatile world bul- lion prices to above US$4lO an ounce again as the Middle-East crisis worsened. Dealers said early activity was brisk, but nervousness crept in towards midday
        434 words
      • Article
        ZURICH
        288 13 SWISS SHARES traded slightly more than 2 per cent lower at mid-session yesterday, but traders said prices appeared to have stabilised after a round of selling in early trading. The all-share SPI index was 23.6 points or 2.18 per cent lower at 1,058.2. Traders said the index fluctuated around
        288 words
      • Article
        PARIS
        155 13 THE FRENCH CAC-40 index hovered in subdued midday trade near its new year low of 1,663.67, set yesterday morning when the index plunged on renewed fears the Gulf conflict would turn into full-scale military confrontation. "It has quietened down after theinitial panic, the market's nervous but with most people
        155 words
      • Article
        Untitled
        210 13 Aug 16 Clow Prsrioas NEW YORK Dow Jones 2,681.44 2748.27 -66.83 NYSE Financial 129.28 ***** -191 SAP 500 332.39 340.06 -7.67 Turnover (million) 138.9 133.2 3.7 LONDON Financial Times 30 1724.9 1748.20 -23.3 FTSE 100 2222.1 2239.30 -17.2 Turnover (million) 375.4 563.6 -188.2 AMSTERDAM CBS General 187.20 187.50 -0.30 Stock
        210 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback hits new post-war low against mark in London trade
      1205 14 FOREX MARKET REPORTS THE US DOLLAR yesterday fell on European markets, hitting a new postwar low against the German maik at the opening in London. Traders said the poor health of the US economy was preventing the greenback from finding
      1,205 words
    • Article
      INTERBANK FOREX RATES
      391 14 Cross rates auk i? US$ SS MS Dm Yen SFr A$ NZ$ USS 1.7948 2.6930 1.5540 147.80 0.5238 1.2900 1.2407 1.4155 SS 0.5572 1.5004 0.8658 0.8235 0.2919 0.7117 0.6913 0.9001 MS 0.3713 66.65 0.5771 0.5488 0.1945 0.4790 0.4607 0.5*99 Dm 0.6435 1.1550 1.7329 95.11 0.3371 0.8301 0.7984
      391 words
    • Article
      FINANCIAL FUTURES
      1570 14 SIMEX FffllflHrtLftlt Open High Low Sett Est Vol Op/Int Vol Sep 90 91.97 9L97 9L9l 9L93 4030 ***** 2217 Dec 90 92.03 92.04 92.98 92.03 ***** ***** 6648 Mar 91 91.99 92.01 92.96 92.00 6010 5869 1299 Jun 91 91.79 91.80 91.76 91.80 643 1648 259 Sep 91
      1,570 words
    • Article
      MONEY MARKET
      566 14 Interbank rates SS Bid Offer Overnight 7 7 1/4 1-month 6 13/16 7 1/16 2-month 6 15/16 7 1/16 3-month 6 15/16 7 1/16 Overnight mode: 7 3/8 LSS Bid Offer 7 days 8 1/8 8 1/4 1 month 8 1/8 8 1/4 2 months 8 1/8 8
      566 words
  • Page 14 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Japanese able to triple rice yields
      420 15 Asahi JAPANESE researchers have developed a new way to more than triple rice yields by transplanting the rice from nursery beds to paddies sooner and by doubling the use of organic fertilisers. The new method requires very little use of agricultural chemicals that often
      Asahi  -  420 words
    • Article
      Lock icon First-quarter rubber consumption slips
      255 15 AFP WORLD rubber consumption in the first quarter of 1990 fell by 20,000 tonnes or 0.5 per cent from the same period of 1989, to 3.97 million tonnes, the International Rubber Study Group said on Thursday. The fall was largely due to lower usage in the
      AFP  -  255 words
    • Article
      Lock icon Gulf crisis hits metal producers
      118 15 Reuter THE indirect impact of the Gulf crisis on non-oil commodities will be higher energy costs for producers of industrial materials, due to the hike in oil prices, Barclays Bank Economics Department said. "Energy is an important component in the manufacture of some commodities, metals
      Reuter  -  118 words
    • Article
      LME rise helps tin to rebound to M$16 level
      806 15 REPORTS THE tin price on the Kuala Lumpur Tin Market rebounded to the Msl6-level yesterday on short covering activity and speculative buying following a sharp rise on the London Metal Exchange overnight. The metal rose by 14 sen to M 516.00
      806 words
  • Article
    PRICES
    1305 15 Rubber Augn I WXWIiWw) Sccnts/Vg Noon Close lnt I RSS Prompt 157.50*158.50N J57.7V158.75N Inl I RSS Sep 90 I57.7VI58.25 158.00/158. SON lnt I RSS Oct 158.50/159.00 158.50/159.00N lnt 2 RSS OP 154.00/156.00N 154.00/156.00N lnt 3 RSS OP 149.50/151.SON 149.50/15I.50N lnt 4 RSS OP 145.50/I47.50N I45.50/147.50N lnt 5 RSS OP
    1,305 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      15 15 Read Chartpoint, a guide to investing in the stoek market. Every Saturday in Business Times.
      15 words
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      Page 15 Advertisements Column 2
      842 15 NOTICE NOTICE IS HEREBY GIVEN that, I YoMo Nogawa of No 53 Cairnhill Road Cairnhill Plaza Singapore 0922, have applied for a Public House, First Class Licence m respect of premises at M/s Nogawa Restaurant at 100 Orchard Road #02-23 to SI Hotel lieridien and Shopping Centre Singapore 0923, and
      842 words
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  • Article
    Indian navy believed to be planning to maintain presence in Cam Ranh Bay
    480 16  -  By Harish Mehta THE INDIAN NAVY is understood to be planning to have a presence in Cam Ranh Bay, but Indian officials in New Delhi strongly deny the existence of such plans. This could lead to New
    480 words
  • Article
    Lock icon Party debates Vietnam's economic situation
    342 16 AFP THE central committee of the Vietnamese Communist Party is meeting in Hanoi to discuss the country's economic situation and the political line of the party, diplomats said yesterday. Sources close to the Vietnamese leadership said the main point on the agenda was the political
    AFP  -  342 words
  • Article
    Telecom plans to market Teleview overseas
    244 16  -  By Linda Chee SINGAPORE TELECOM intends to market Teleview worldwide after the photovideotex service is commercially launched in Singapore before the end of the year. "If Teleview is successful in Singapore, I would expect this service to be equally well accepted in other countries,
    244 words
  • Article
    Lock icon Indonesia against immediate Opec talks
    183 16 Reuter INDONESIA yesterday said it opposed an immediate meeting of the Organisation of Petroleum Exporting Countries (Opec) called for by Saudi Arabia to avert oil shortages during the Gulf crisis. Earlier this week, Indonesia's Mines and Energy Minister Ginanjar Kartasasmita said that Opec ministers should
    Reuter  -  183 words
  • Article, Illustration
    Kan Seng explains stand on defence, foreign press
    448 16 SINGAPORE'S defence policy and its approach to foreign publications circulating here reflect a small nation's desire to be in control of its own domestic affairs, Minister for Foreign Affairs Wong Kan Seng said yesterday. Speaking at a National Day dinner in his
    448 words
  • Article, Illustration
    Making fax public
    52 16 A MAN testing Bell Canada's new public fax terminal which allows users to send or receive facsimiles anywhere in the world. Users of the device can bill charges to their credit cards. The charge will be about Cs9 to send a three- or four-page fax anywhere in
    52 words
  • Article
    Lock icon Nakayama leaves for the Gulf
    382 16 Reuter JAPANESE Foreign Minister Taro Nakayama has left for the Middle East where he will ask five nations how his country, torn between playing active and passive roles, should help them in the Gulf crisis. One proposal likely to arouse controversy at home has come
    Reuter  -  382 words
  • Article
    Lock icon US June trade deficit falls to a seven-year low
    394 16 Reuter A STEEP DECUNE in oil imports and a buoyant export sector shrank the U$ June trade deficit to its lowest in seven years, cheering economists. However, with prediction) that higher oil prices resulting from the Gulf crisis will be* gin
    Reuter  -  394 words
  • Article
    Economic turmoil if Gatt fails: Yeutter
    334 16  -  From Catherine Ong in Hongkong A SENIOR US official yesterday warned of worldwide economic turmoil if major agriculture-producing countries failed to resolve their differences by December. US Secretary of Agriculture, Mr Clayton Yeutter, says negotiations by members of the General Agreement on Tariffs and
    334 words
  • Article
    Lock icon East Germany training Iraqi soldiers
    87 16 AFP THE East German army is training Iraqi, Libyan and Palestinian soldiers under long term deals with East Germany's former communist regime. Bonn wanted the contracts to be cancelled "as soon as possible", a West German Defence Ministry spokesman said yesterday, explaining that the East
    AFP  -  87 words
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      Page 16 Advertisements Column 1
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      36 words
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      Page 16 Advertisements Column 2
      17 16 sAcchiQ (n iimm- I < tiilu i alii inun BLACK POn€RV show 0j!0& Shangri-La Souvenirs 135 Tel: *****62
      17 words
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  • Executive Lifestyle
    • Article, Illustration
      Dennis the Pianist
      1271 17  -  Some dreams never die; they just keep coming true. Dennis Lee, UK-based concert pianist and examiner, has come a long way from his native Penang, and shows no sign of slowing down, says Malini Tambyan Malini Tambyah Has anyone noticed that the glamorous concert pianist is practically
      1,271 words
    • Article
      From volcanoes to conference halls
      362 17  -  Samuel Ee whispers news of the Asian Youth Orchestra's inaugural tour Samuel Ee CONSIDERING that they have performed at the foot of an active volcano, the Asian Youth Orchestra should find the Singapore Conference Hall a pretty conventional venue, if not a little nondescript. Come
      362 words
    • STRAWS IN THE WIND
      • Article
        Strictly business
        47 17 A PR FIRM foctj well-known courier sends out press releases on the cSAFi letterhead. And to get" Ujpm to the newsroom as fast-as possible, it despatches Jfiem by courier. But rather fljan using its client's services, it sends them via a small, unheard-of courier comjJgQg
        47 words
      • Article
        Too early bird
        39 17 AND WHO SAYS TcCmii doesn't offer fast service? One subscriber was pnftfflfls informed that some uouylc couldn't get through ♦> fir. She was impressed -SSB&t wondered if the opOTKr really had to call ns* at 1.30 am.
        39 words
      • Article
        Mating call
        40 17 BUT IF YOU THINK all Telecom staff are hard walking, another subscriber 1011 be quick to tell you he's been getting frequent calls from one of them too a friendly telephone repairman trying to date his Filipino maid.
        40 words
      • Article
        Changing faith
        75 17 YOU'VE HEARD OF propie who receive mail- that mis-spells their name and even gets their sex wco&g. But one colleague not enty got his name spelled wrong, he also had his reljgtbn changed for him Hindu name was distorted into a Muslim format. Do you have a straw
        75 words
    • OPINIONS
      • Article, Illustration
        A time to pull, a time to hold
        724 18  -  Kenneth James on why a lower year-end bonus should be the least of workers' concerns Kenneth James Kenneth James is BTs Economics Correspondent. WHEN uncertainty tugs at the economy, many fear the impending pinch in their pay cheques. Earlier this week, Labour
        724 words
      • Article
        Wider view of solicitors' indemnity needed
        285 18  -  LETTERS TO THE EDITOR Peter Sim Singapore 0207 I HEAD with great interest your article otTSolicitors' Professional Indemnity (BTF, Aug 15). If your correspondent had been present at the meeting on May 26, 1990 instead of June, (as stated in his article) he would
        285 words
      • Article
        SIA query — SES seeks only to discharge its duty
        364 18  - SIA query SES seeks only to discharge its duty Peter Chia Manager, Public Affairs Stock Exchange of Singapore Ltd IN HIS letter to the Editor (BT, Aug 10), Lucas Liew of Singapore Airlines questioned the Stock Exchange of Singapore's motive in sending its letter of July 27 to SIA. The
        364 words
      • Article
        We're basically exposed to oil price increases: SIA
        214 18  -  Supramaniam S Public Affairs Executive Singapore Airlines I REFER to your article, 'SIA, NOL cushioned by hedging of oil prices' (BT Aug 4-5). Your heading is misleading as it gives the impression to your readers that SIA is not exposed to any
        214 words
      • Article, Illustration
        Length of NS the crux of that speech
        933 18  -  David Gabriel on what Chok Tong did not say David Gabriel David Gabriel is a senior correspondent with BT's politics and economics desk. ON August 9, The Jakarta Post produced a lengthy editorial registering some disquiet over statements, made four days earlier,
        933 words
    • LIFESTYLE 1
      • Article, Illustration
        Chirpy chirpy bang bang
        556 19  -  Samuel Ee reflects on frozen buns as he watches Mel Gibson tangle with Goldie Hawn Samuel Ee WHEN AN old girlfriend a quart of Haagen-Dazs rum and raisin on my pants, it meant that she had symbolically unloaded me off her hands and love life. For
        556 words
      • Article
        Unveiling politics, life and religion
        641 19  -  BOOK REVIEW By Chuang Peck Ming Skinny Legs And All By Tom Robbins. Bantam U5519.95. 422 pages A BEAN CAN asked a mirror in the opening page of a chapter of this offbeat novel: "I realise, sir, that the angle of reflection is always equal
        641 words
      • Article, Illustration
        Music to swoon to, by courtesy of Wynton Marsalis
        648 19  -  CO REVIEW By Ringo Liew W YNTON MARSALIS: Standard Time Vol 3 The Resolution of Roauuce The fact that Wynton Marsalis is the leading jazz trumpeter of his generation is undisputed. The fact that he is the only living horn player
        648 words
      • Article, Illustration
        Sweetening the world with NutraSweet
        581 19  -  Cassandra How finds a compromise between her tastebuds and her waistline Cassandra How THE NEXT TIME you lick your fingers to turn a page, you may just discover natural ajinomoto. That was how one scientist discovered aspartame, or what is being marketed as NutraSweet. Comprising
        581 words
      • Article, Illustration
        Lock icon The toque: caring chefs' crowning glory
        940 21  -  Chefs care about what they wear, and there are intimations of snobbery, too, in the elaboration of insignia on the jacket and, most important, the height of the toque. Richard Shepard reports Richard Shepard NYT New york CITY wears many hats, but none is
        NYT  -  940 words
      • Article
        Cakebread Cellars captivates local palate
        808 21  -  WINE By N K Yong THERE was a time when American wine meant Californian, Californian meant Napa Valley, and Napa Valley meant Robert Mondavi. But not anymore. Not because the others have surpassed Mondavi. A few may have but none are better known. Not because
        808 words
      • Article, Illustration
        Creating a losing option
        421 21  -  BRIDGE By Tan Boon Tiong SOMETIMES when defending against a contract we can see that declarer is going to take a correct line of play to make his contract. It is therefore necessary for the defence to distract him into making an alternative but losing line.
        421 words
    • EPICURE
      • Article, Illustration
        Knight of Kallang
        705 20  -  Quek Swee Peng fights off the over-indulgent overtures of The Samurai Quek Swee Peng A SUNNY, sultry afternoon set the scene. The sun in my eyes; the stillness in the skies. The tranquility of Leisure Drome on a working week-day was interrupted only by the familiar smashing-up
        705 words
    • SPORTS
      • Article, Illustration
        Where have all the Americans gone?
        740 23  -  By Cassandra How THE last time an American won the US Open was when Czech transplant Ivan Lendl completed a hattrick in 1985, 1986 and 1987. Nine days from now, Flushing Meadow will be a hive of tennis enthusiasts, eager to herald a new
        740 words
      • Article, Illustration
        Lock icon Agassi serves notice
        210 23 AFP DEFENDING champion John McEnroe was upset in the third round of the US Men's Hardcourt Championships on Thursday, while Andre Agassi sounded a warning that he will be a favourite at the US Open. McEnroe, who was less than brilliant in his secondround match on Wednesday,
        AFP  -  210 words
      • Article
        Lock icon Powerful pull of prestige and wealth
        234 23 AP THE prestige of the Italian first division, fuelled by mil-lion-dollar salaries offered in recent years, has attracted an even larger contingent of foreign stars to the biggest soccer league show in the world. Z Already known for such stars as Argentina's Diego Maradona
        AP  -  234 words
    • JOBS
      • Article, Illustration
        The benediction of Benedicto
        944 24  -  Harish Mehta finds the business bug biting the businessman-turned-Philippine ambassador to Singapore again Harish Mehta CORPORATE chief-turned-dip-lomat Francisco Benedicto harbours a deep desire to return to his blooding ground: business in Cebu. Thdfofch, when I fust met him a'few years ago, his demeanour struck me more
        944 words
      • Article
        PEOPLE IN BUSINESS
        207 24 Philip DeFord has been appointed managing director of Security Pacific Asia Ltd, merchant banking arm of Security Pacific Asian Bank. Mr DeFord will be responsible for the company's activities in the Pacific Rim, based in Hongkong. Prior to this, he was an executive director of the company,
        207 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article
        Time's ripe to pick up stocks
        838 25  -  The Iraqi invasion of Kuwait has led to gyrations in world stock prices. Abdul Hadhi examines the question of whether to buy into the depressed local market now while Najeeb Jar horn, research manager, Fraser Roacn Co Pte Ltd, suggests support and danger levels
        838 words
      • Article
        Start your estate planning now
        785 25  -  This is a matter which one should not put off for too long, advises Goh Kok Yeow as he writes about this complicated subject Goh Kok Yeow The writer is a A Trust Officer with Standard Chartered Bank Trustee Singapore Ltd IT IS commonly believed
        785 words
      • DON'T QUOTE ME!
        • Article
          Smooth sailing for Keppel?
          135 25 WHATEVER you may think of Keppd, you must admit A it is one company that does not subscribe to the alt-too-flp& tious phrase "barring unforeseen circumstances". A coupfiffJT weeks ago, soon after Iraq invaded Kuwait, Keppel sparkling set of interim results. The results were so fact,
          135 words
        • Article
          Taiwanese clout
          118 25 THE BILLIONS of Taiwan investment money Malaysia have given the Taiwanese quite a bit of clout. We heard that preparations for the pure-Chinese syllabus school for children of expatriate Taiwanese had received official blessings to go ahead. A committee would be be set up by Taiwanese in Malaysia
          118 words
      • Article, Illustration
        Uncertainty will lead to more volatility
        683 25 CHART WITH indications pointing to an investment scenario that is probably the most uncertain since the October 1987 stockmarket crash worldwide, a volatile market can be expected in the days or even weeks ahead. Support levels on the Straits Times Industrials Index are more
        683 words
      • Article, Illustration
        Has gold lost its crisis appeal?
        1019 26  -  Contrary to expectations, as world stock markets plummeted on the news of the Iraqi invasion of Kuwait on Aug 2, gold remained relatively dormant. Shoeb Kagda examines whether the metal has lost its status as a safe-haven investment Shoeb Kagda WHEN THE Soviet Union
        1,019 words
      • Article
        C$ expected to head downwards
        630 26  -  Dr E P Neufeld, executive vice-president, Economics and Corporate Affairs, Royal Bank of Canada looks at the overvalued currency Dr E P Neufeld POLITICAL UNCERTAINTIES in the Middle East, rising oil prices, and worries over US Fed policy have been a boon for the Canadian
        630 words
      • Article
        How a life policy is wrapped up
        556 26  -  TAKI^ By Alan Street Prof Street is with the Nanyang Technological Institute. This article was contributed by the Life Insurance Association of Singapore IN LIFE INSURANCE we deal with promises and responsibilities and it is the function of the life insurance salesman not
        556 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1016 27 CC FlgM ETA FHM CIO ttuPfclM MM SQ226 2035 Qf81 2005 taMM SQ23 1350 KL838 2115 KLB37 1430 SQ24 2200 *55*55 TE25 1610 Ti28 1730 SQ338 1925 BA12 2200 IB!!* QF5 T4/8 2230 Baatfar Sari BI421 1100 SQ182 0915 •MM SQ181 1410 8*422 1205 B)429 2030
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    • THE TRAVEL PAGE
      • Article, Illustration
        Home of the endangered hangul
        638 27 LETTER FROM INDIA THE ENTRY POINT into the Dachigam National Park, one of India's most scenically beautiful wildlife reserves, is only 14 miles (22 km) from Snnagar. First protected in 1910, this mountainous area forms almost half of the Dal Lake's catchment area and its
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      • Article
        MONEY CHANGER RATES
        154 27 As at 3pm yesterday. Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.440 1.460 Canadian dollar 1.5480 1.5680 NZ dollar 1.0930 1.1330 Sterling pound 3.4100 3.4400 US dollar 1.7880 1.7980 Local dollars to 100 nits of foreign iMKMcy Austrian schilling 16.10 17.10
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      • Article
        WORLD TRADE EXHIBITIONS
        86 27 Duration Title Venue Organiser Td Duration Title Venue Organiser Yd it it Aug 24 Taxation of Non- Sep 7-17 International Switzerland Sctiweizer Muster 6l/6S6J^!io Residents India Asian Pacific Tax *****40 Fair Mustermcsse Investments in India A Investment Re- 1(M6 lntcma(lona Spam Foire 3/423.3liH TV, Sound and De
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    • TIME OFF
      • Article
        THEATRE
        226 28 The Asian Youth Singapore Inaugural Concerts 1990 The Asian Youth Orchestra members are chosen from the best of music students from various countries. They will perform under the direction of American conductor Isaiah Jackson, music director of Britain's Royal Ballet. Also performing are internationally renowned artists Hu Kun, violin,
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      • Article, Illustration
        EXHIBITIONS
        176 28  -  Compiled by K Jayanti Prints of Singapore The First Twenty-Five Years A sale-cum-exhibition to commemorate Singapore's twenty-fifth anniversary. The outstanding collection of lithographs and aquatints comprise almost twenty-five dif- ferent views of Singapore and include the works of Robert Elliot, Louis Le Breton, Lafred Agate and others. The highlight
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    • Article, Illustration
      CINEMA
      500 28 Hrd aa a Wlrs. Who says you don't get a second chance at love? Goldie Hawn does, but she's not sure if she wants it, even though the man in question is Mel Gibson. The two share wonderful screen chemistry in this excellent actionfilled comedy about two dirty cops
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      Page 17 Advertisements Column 1
      149 17 ansa J d a, i- 'T~ K- *?E* .»!'•> < x»' SINGAPORE: Burtx-rry* Shop-ln-«iop DAJMAKI DFS Orchard DFS Claymore HALLEY S ISETAN Havrkick ISETAN Orchard NAN HEN LEATHER GOODS REGENT STREET, Palais Renaissance SOGO AudioriMd Dealer*: FAR EAST REPTILE HOUSE F J BENJAMIN Airport JURONG CROCODILE PARADISE LEATHER LODGE LEE
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      97 18 fiOONESBURY BY GARRY TRUDEAU I've oeapeo to resign as a ranking member of the nowiknouj i think i you're i won- m&e 'ASA MA ikR CF HONOR CMER BANKING COMMTfTEE, ISHOULP WHAT YOU'RE JUST LOST THINKING D&FI OKAY.THE -MY SMALL dUTVEOSIVZ ROLE Hm KNOWN BETTER. ISHOULP ALL THINKING MY JOB
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      Page 20 Advertisements Column 1
      236 20 WHERE TO WINE, DINE AND ENTERTAIN... WHERE TO WINE, DINE AND ENTERTAIN... WHERE TO WINE, PINE ITALIAN MASTERPIECES AT PR EGO! Take your taste buds on a delightful journey through the inspired Italian dishes of the renowned chef, Paolo Veneni. >►» Try his award-winning specialties at Prego from August 13
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      Page 20 Advertisements Column 2
      337 20 PLEASINGLY HYATT Discover the world of sensational Singaporean dishes in a buffet. Taste Singapore favourites and international specialities at Plum's, on Fridays and Saturdays. Dinner buffet only. Price: $22* ■iniaimuiiitiMi PLUM'S iiiiiiiiiii •Plus 10% Service Charge and 4% Government Tax HYATT REGOMCY©SIMGAPORE 10-12 Score Road. Singapore 0922. Tel: "*****8 Telex:
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      Page 20 Advertisements Column 3
      223 20 1 on Sundays at Club 5 Enjoy your beautiful Sundays in Club 5 while Classics' entertains with their repertoire of old favourites and romantic ballads of yesteryear. Drinks are at bar prices. Opening hours: spm lam. PlazaHqtei, I •AiWCOIOo«fUI*t»VITIHCI Dancing 1 under the stars kOur deejay will spin numbers to
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      Page 20 Advertisements Column 4
      345 20 SaychaSetO —'J SWISS The Swiss have such wonderful ways with cheese. Savour thnn j[ and mote at The Belvedere's Swiss Buffet this month. T SWISS BUFFET LUNCH 4 August 1 31, Noon —130 pm 4 fc Adult $36++, Child below 10: $18++ 4 w We serve the worid to you
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      Page 21 Advertisements Column 1
      222 21 AND ENTERTAIN Tempting Treasures From The Deep. The tempting Fish and Oysters Promotion is on every night from August 7 to 25, at the Hubertus Grill. We guarantee you'll fall for it, hook, line and sinker! Ad! Century Park Sheraton Singapore 16 NASSIM HILL, SINGAPORE 1025. TEL 732 1222. CENTURY
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      Page 21 Advertisements Column 2
      26 21 Cakebread Cellars 1985 Rutherford Reserve Napa Valley Cabernet Sauvignon PRODUCED AND BOTTLED BY CAKEBREAD CELLARS RUTHERFORD, NAPA VALLEY. CALIFORNIA, USA ALCOHOL 12.5% BY VOLUME CONTAINS SULFITES
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      Page 21 Advertisements Column 3
      111 21 TnAII/A Restaurant and 1 K\/IK/l Karaoke Lounges FINEST RUSSIAN AND CONTINENTAL CUISINE Romantic Candlelight Dinner With Karaoke at Troika Happy Hours Daily $12.00++ One for one drinks Restaurant Houn c M Karaoke Houn Monday* to Saturday* Daily 1130 am to 2Jopm 7.00pm to 100 am Dinner. r Monday* to Sundays
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      Page 22 Advertisements Column 1
      211 22 1 I; THE PROMENADE OBVIOUSLY If? m ;c: JC, ri[ ■Hfaw >-■----" "|fi| y Mm* f f Vy -l-' /MM' li?v y^Sfl r For some of us, many of life's luxuries have quietly evolved into life's simple necessities. Take for example this superbly handcrafted Carrera timepiece fromLes Bijoux de Dickson
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      Page 23 Advertisements Column 1
      111 23 Bff v jp* itjjpfe if^r ISjF X-- SB" ®V 4 y 2$JZ> Wt JP I f jj "jk -jh^gP yy '^fc l- v v^"\, ;o t coiiPtiT i '_«toytt» c»tt«»s 1 BIS «o«»c» r£%g*j&*z V en•<s*ntc*s I v > nasi r *1 MYCIN M'^lM WmL> RB« ENGLAND M|m? jV I
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      Page 24 Advertisements Column 1
      496 24 Business Development Managers, Take The Challenge With Us. We are a long and established Group of Companies with diversified regional interests in trading, manufacturing and, indenting with Singapore as the Group's regional headquarters. We are poised to make significant inroads in the countries where we have existing operations and in
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      Page 24 Advertisements Column 2
      387 24 DHL IN THE NEWS Advwtfcemant DHL EXPANDS INTO INDOCHINA With rich natural nationaly, DHL has set up offices service tor our outgoing docureeources and abundant supply in Cambodia, Laos, Vietnam ments since ws started business of labour, Indochina has been andMyanmar. in Vietnam." said the Managingseen by foreign investors aa
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      Page 26 Advertisements Column 1
      277 26 I THE MONETARY AUTHORITY OF SINGAPORE I SINGAPORE GOVERNMENT OFFERING OF TAXABLE I BOOK-ENTRY BONDS TO THE PUBLIC I AMOUNT OFFERED SGD 550 MIO I ISSUE CODE N*****0Z I ISSUE DATE 31 AUGUST 1990 I MATURITY DATE 1 SEPTEMBER 1995 I INTEREST RATE TO BE DETERMINED BASED ON I THE
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  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      208 27 eastern company (9) hand the said Scandina- 11 A game contract (7) 17 Gellery found under cover Island encounters frenzied I j I j 27. Policeman, some say, with bronzed skin is a pretender 21 It is not difficult to spot debts abounding (7) <*> h s 28 -Not performed
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      209 27 Singapore Outlook: Showers over several areas ia the moraiag Report: Max temp. 31.1"C Assoc humidity 75% Min temp. 25.2* C Assoc humidity 94% Hrs of sunshine. 4.60 Rainfall in mm Trace Rainfall this mth. 117.5 Rainy days this mth. 6 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 14/09 Showers 8angk0k.................. 35/26
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      35 27 7 SI&H' xTrruSs I kneu> ncttvhmg peoj/rrc A /R biPOcDRv >fQM V*eK£ AT TUG Time 04€S"W j\SOCW..J\ WD CWaWII J V' p €WV^ HN^S y V gST 1 ,r C~ -TttOLUE.V DISRSTTEtf 9 p— 1
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      1641 28 TODAY'S TV HHRTiffIHSSHi BKfIfIRTffIRTSM TY PU«*» ■UfafcUSJi W H dm^mmi My LRU* CM, 2.05pm, I*l Tfct Cr.d.L.il Cod., <•"*£«*&,' ILM NN N*m (M). A rich teenager leams that 12-lOpw, SBC S fiWB 1111 ■Hi■ M helping out at a city shelter The ani may be a member of Across the
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      649 28 fSc China, water is so scarce tfiS IBJ l1 it's made all self-respecting 12 divining rods terribly embarKnown as Orson Welles' sig- rassed and therefore change nature movie apart from be- professions. A young man, ing one of the best movies his brother and the widow he ever made, this
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