The Business Times, 8 September 1990

Microfilm: NL17107
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, September 8-9 1990 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Operation of Constitution (Amendment) Act
      40 1 THE Constitution of the Republic of Singapore (Amendment) Act 1990, which allows not mote than six persons as nominated members of Parliament, will come into operation on Monday, according to a government gazette issued yesterday.
      40 words
    • Article
      Footsie lower
      30 1 SHARE prices were lower on the London Stock Exchange in early trading yesterday. At 1111 GMT, the Financial Times-Stock Exchange 100share index was down 9.3 points at 2,111.6.
      30 words
    • Article
      Dow up
      22 1 WALL STREET stocks were trading near new session highs at midmorning yesterday. The Dow 30 was up 15 at 2612.
      22 words
    • Article
      Computer exports soar
      34 1 SINGAPORE'S domestic ex- ports of computers and related products to Eastern Europe grew by some 12 times in just two years, the Trade Develop- ment Board (TDB) said yesterday Page 2
      34 words
    • Article
      Listing approved
      28 1 TELEKOM MALAYSIA'S proposed public flotation and listing of its shares on the Kuala Lumpur Stock Exchange has been approved by the Capital Issues Committee Page 3
      28 words
    • Article
      Tight grip loosens
      30 1 JAPANESE banks' urgent need to raise fresh funds to meet international capital standards has forced the Ministry of Finance (MOF) to soften its regulatory grip. Page 5
      30 words
    • Article
      US aid lor Moscow
      36 1 TO GET more energy onto world markets, the Bush administration is encouraging the American oil industry to provide technological and other assistance to the Soviet Union to raise petroleum output Page 6
      36 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Chance BT-MGA 631.86 -5.46 Kuala Lumpur ....341.41 -6.06 Hongkong 3,047.91 +15.06 Tokyo 23,962.07 +150.16 Sydney 1479.0 -3.1 llMraday Change New York 2596.29 -31.93 London 2120.90 -31.30
      29 words
    • Article
      CURRENCIES
      20 1 Exchange rates US$ SSI.7635 Yen SS1.2561 MS SS0.6558 Wooty luriwl rates Overnight 6 1/2% +3/4 3-month 6 1/2% +1/16
      20 words
    • Article
      COMMODITIES
      34 1 Lm4«I G4d PM fix US$384.60 -US$2.90 S'pofe Oct.... l56.75«/kg -1.75 Nrsia Oct— 24l.50«/kg -1.00 KLThi Turnover 35 tonnes +4 Spot M$l5.22/kg +0.02 Crwlt pata «i Turnover 242 lots -40 Sept MS664 /tonne unch
      34 words
  • Article
    Credit facility for Bank Duta deferred
    324 1  -  By Quak Hiang Whai A CREDIT facility worth US$lOO million arranged by OCBC Bank for Indonesia's Bank Duta, whose entire board of directors was sacked a few days ago, has been deferred. Sources say OCBC will wait until Bank Duta has a new board
    324 words
  • Article, Illustration
    Lock icon US rules out compromise in conflict with Saddam
    408 1 Agencies THE UNITED STATES, backed by billions of Saudi dollars, yesterday vowed no compromise in its conflict with Iraq's Saddam Hussein as more nations pledged aid to help the thousands of refugees stranded in the Gulf. US Secretary of State James Baker,
    Agencies; Punch  -  408 words
  • Article
    Lock icon More Americans jobless
    163 1 AFP US UNEMPLOYMENT rose to 5.6 per cent of the active workforce in August, up from 5.5 per cent in July and 5.2 per cent in June, the Labour Department announced yesterday. It was the highest jobless rate since unemployment hit 5.7 per cent in March 1988
    AFP  -  163 words
  • Article
    KPI hopes to restart normal operations here
    506 1  -  The Gulf Crisis By Conrad Raj KUWAIT Petroleum International (KPI) is expected to restart normal operations in Singapore next week after it takes delivery of a cargo of oil products sent for processing at the Shell Refinery in Pulau Bukom. The company told
    506 words
  • Article
    Japanese ships offload Kuwaiti cargo in S'pore
    324 1  -  By Rahita Elias SOME 100 boxes of Kuwaiti cargo have been offloaded in Singapore by Japan's four leading shipping lines as a result of the economic sanctions imposed against Iraq. Sources said that most of the cargo stuck in Singapore are from other
    324 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      153 words
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      Page 1 Advertisements Column 2
      120 1 Nikon Tl»ihiu.n.i n i U'l'l i 1 m"' "WE DID IT, FIRST TIME ROUND. AFTER ALL THOSE YEARS WE SPENT TOGETHER AT SCHOOL, 1 KNEW WE'D MAKE AN UNBEATABLE PARTNERSHIP." /Vv OMEGA. The watch that records the world's significant moments. m' At the Olympic Games. In outer space. And exclusively
      120 words
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      Page 1 Advertisements Column 3
      15 1 KIO withdraws holdings of CAC shares, P| 3 Jakarta calls for conns Aaeaa strategy, P|7
      15 words
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Thai minister to pay courtesy call
        35 2 DR SUBIN PINKAYAN, Thailand's Minister of Foreign Affairs, will make a courtesy call on Mr Wong Kan Seng, Minister for Foreign Affairs and Minister for Community Development, tomorrow morning.
        35 words
      • Article
        Leder is next LKY visitor
        79 2 PROFESSOR Philip Leder, a highly regarded molecular genetics scientist from the US, is the next Lee Kuan Yew Distinguished Visitor. During his visit from Sep 12 to 23, Prof Leder will deliver two public lectures at the National University of Singapore. The professor, who is
        79 words
      • Article
        French delegation arrives
        58 2 A FRENCH delegation from the Chamber of Commerce and Industry of Bordeaux arrived in Singapore for a three-day visit yesterday. The group is led by Senator Jacques Valade, former Cabinet minister and member of the French Parliament. The programme includes a visit to the Port of Singapore
        58 words
      • Article
        Advice to artists
        70 2 LOCAL ARTISTS should expose themselves to various art movements and create a distinctively Singapore art rich in substance and international in outlook, said Mr Yatiman Yusof, Parliamentary Secretary (Foreign Affairs). Speaking at the opening of the Exhibition of Contemporary Lithographies, he urged local artists to refine their
        70 words
      • Article
        Labour force survey this month
        73 2 The Ministry of Labour is conducting the Labour Force Survey this month and in early October to collect data which will help in the evaluation and formulation of employment plans and policies. A sample of 11,500 households has been selected for the survey. All the
        73 words
      • Article
        Batam adventure
        51 2 THE People's Association Adventure Club is on a two-day, canoe/dragon boat expedition to Nongsa, Batam. The expedition comprises 20 dragon boat rowers, two boat handlers, four single seater and IS double seater canoes. Participants will deoart from Changi Point today at 7am and will return by 4 pm
        51 words
    • Article
      Huge jump in computer exports to E Europe
      435 2  -  By Shutz Lee SINGAPORE'S domestic exports of computers and related products to Eastern Europe grew by some 12 times in just two years, the Trade Development Board (TDB) said yesterday. In 1987, only $3.2 million worth of Singapore-made computers and related products
      435 words
    • Article
      HDB still to have hand in management
      276 2  -  By Lee Han Shih THE MINISTRY of National Development has reversed an earlier decision to take away all estate management functions from the Housing and Development Board. A statement from the MND yesterday said it had decided that, even after the formation of
      276 words
    • Article
      Singapore-Soviet ventures set to reap substantial gains
      183 2 THE FIVE Singapore-Soviet joint ventures launched last year will yield substantial returns by 1992, the Trade Development Board said yesterday. In the latest issue of its newsletter Tradespur, the board estimated that the five joint ventures will have a combined turnover of about
      183 words
    • Article
      Staff to be doubled by end of next year
      210 2  -  By Claire Leow THE INSTITUTE of Systems Science (ISS) will have almost twice the number of research and development staff by the end of next year. An ISS spokeman also told BT at the institute's graduation ceremony, held yesterday for its
      210 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      471 2 Urn* fcHfc W »Hwl tggfcw SffLT"?" W2 *»8*» *09/0100 <*?» Sm/MS Cap tibno 3/1 *18 atonpd. 0109/1500 0» J j"** SS/SS Ocean Part *****7/P K29 afanp* 07.09/1400 1 £21 £2^2300 Phuket Name 7EB *30 alongsde 09.09/0700 n? MM/0700 ftdrtSaMt 9/90 *31 ata«*t 07.09/1500 J* J"«*J £SS Yananwuhao
      471 words
    • Article
      CONTAINER SCHEDULE
      1239 2 RECEIVING Of EXPORT FCL CONTAINERS AND LCI CARGO Record Boattg/ftahnco fab Sip No Etb/Btr Period From To Fran Ad Gonetanw ***** 09/0500 1 07/1500 07/1659 07/1900 2 07/1700 08/0659 08/0900 AU Bhum 57S 09/1200 1 07/1500 07/1659 07/1900 2 07/1700 08/0659 08/0900 3 08/0700 08/1159 08/1400 4 08/1200
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Telekom Malaysia gets approval for listing
      383 3  -  By Abdul Hadhi TELEKOM MALAYSIA'S proposed public flotation and listing of its shares on the Kuala Lumpur Stock Exchange (KLSE) has been approved by the Capital Issues Committee (CIC). In a brief statement yesterday, Telekom Malaysia said the whole exercise will raise its issued
      383 words
    • Article, Illustration
      Hwa Hong's profits up 20pc
      393 3  -  By Yong Pow Ang CASH-RICH Hwa Hong Corporation Limited posted a 20 per cent increase in net earnings for the first six months this year, thanks largely to a sharp rise in investment income. The group's performance for the whole year appears to be bright
      393 words
    • Article
      Lock icon Daibochi assured of supplies: chairman
      273 3 Bernama DAIBOCHI Plastic and Packaging Industry Bhd has been assured of continuity of supplies of raw materials by its main suppliers despite the Gulf crisis, chairman Tan Sri Dr Abdul Khalid Sahan said yesterday. He told newsmen after the balloting for the bumiputra portion of
      Bernama  -  273 words
    • Article
      KIO withdraws C&C stake from Mayban Nominees
      323 3  -  By Conrad Raj THE Kuwait Investment Office (KiO) has withdrawn its entire stake of Cycle and Carriage shares held by Mayban Nominees (Singapore) from the Malayan Banking Bhd subsidiary. C&C disclosed this in a brief statement to the Stock Exchange of Singapore yesterday.
      323 words
    • Article
      Lock icon Larut to revive itself with new financial scheme
      527 3 Bernama LARUT Tin Fields Bhd, the Malaysian consumer products and property group, is pursuing a new financial restructuring scheme to revive itself. In a statement on Thursday, Malaysian International Merchant Bankers Bhd said on behalf of Larut that the proposed scheme would
      Bernama  -  527 words
    • COMPANY BRIEFS
      • Article
        MAS to increase KL-Kinabalu seats
        70 3 MAS to increase KLKinabalu seats MALAYSIA Airlines (MAS) will increase the number of scats on the direct and indirect flights between Kuala Lumpur and Kota Kinabalu from next month. Its regional manager for Sabah and Brunei Darussalam, Abdul Murat Abdullah, said MAS would provide another 1,319 additional seats per week
        70 words
      • Article
        Genting's share-split approved
        91 3 GENTING BERHAD has obtained the approval of the Capi- tal Issues Committee for the proposed split of its shares from Msl to SO sen par value each. In a statement on behalf of Genting, Commerce International Merchant Bankers Bhd said the CIC had also allowed the listing
        91 words
      • Article
        Sale of Nutech completed
        31 3 JACK CHIA (Australia) Ltd completed the sale of its dormant wholly-owned subsidiary, Nutech Ltd, on Sep 5. Jack Chia (Australia) is a subsidiary of locally-listed Jack ChiaMPH.
        31 words
      • Article
        Hotel Marco Polo directors
        30 3 EDWARD W S CHENG and Frank Y C Yung have been reappointed as directors of Hotel Marco Polo at its annual general meeting on Thursday. .V,
        30 words
      • Article
        MBF to recruit heads for trusts
        61 3 MBF HOLDINGS Bhd plans to recruit two senior executives to head its proposed property trust and unit trust, its chief executive Datuk Loy Hean Heong said. He told Bernama that the two executives would head management teams being assembled for the two trusts. The
        61 words
      • Article
        Rahman Hydraulic profit down:
        100 3 RAHMAN HYDRAULIC Tin Bhd has recorded an 87 per cent drop in its group pre-tax profit to M 5631,000 for the six months ended June 30, 1990, from M 54.98 million in the previous corresponding period. The company attributed the lower earnings to substantially lower prices
        100 words
      • Article
        Gula Perak aims to diversify
        95 3 GULA PERAK Bhd will continue to identify suitable investments and viable businesses to diversify into to enhance the group's earnings as well as to utilise the company's unutilised tax losses, chairman Haji Megat Najmuddin Datuk Sen Dr Haji Megat Khas said. He added in the
        95 words
      • Article
        Bukit Katil earnings fall 62pc
        73 3 BUKIT KATIL Rubber Estates Bhd has reported a 62 per cent drop in its operating pre-tax profit to M 5636,000 for the year ended April 30, 1990, from M 51.67 million the previous year. Turnover rose 12 per cent to M 51.07 million from M
        73 words
      • Article
        Public Bank gets HK approval
        113 3 PUBLIC BANK Bhd said yesterday it had received approval. from the Hongkong Commissioner of Banking to upgrade its representative office there to a restricted licence bank. Its president and chief executive officer, Tan Sri Teh Hong Piow, added in a statement that Bank Negara had
        113 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      59 3 Hope of mega-bucks luring many Into Jlm 1 the ,e,sure lndustr v 1 Wah-Chang's Phuket bet M~J ""aH*'' 1 t More Singaporeans are homing in on I property investments overseas i 1 Singapore joins the global fight against 1 money laundering V OJI 1 High-tech biotechnology drive is paying \\2Jdp
      59 words
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      Page 3 Advertisements Column 2
      301 3 Hi CRANFIELD MBA 9 ADMISSION TEST Candidates are invited to apply for the Cranfield MBA Programme commencing lanuary 1991 in Singapore. The programme uaea a variety of latest learning methods, mchxting distance iaaHgj techniques. Scholarships of Sslo,ooo each are available to suitable candidates who have been offered and have accepted
      301 words
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  • INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        ANA to set up hotel business HQ by 1994
        112 4 ALL NIPPON AIRWAYS Co Ltd (ANA) will set up separate headquarters to run its hotel business in North America, Oceania and Europe by 1994, an ANA spokesman said in Tokyo yesterday. ANA's 66.6 per cent-owned ANA Enterprises Ltd unit, which now
        112 words
      • Article
        Project to review role of ICL
        108 4 THE JESSI European semiconductor project said it will review the continued role of STC pic's computer unit ICL following STCs agreement to sell 80 per cent of ICL to Japan's Fujitsu Ltd. JESSI spokesman Klaus Knapp said in London on Thursday that the individual
        108 words
      • Article
        CRA to bid for partners
        82 4 CRA Ltd said in Sydney yesterday that it planned to make takeover offers for all the shares in Grants Patch Mining Ltd and Kalimantan Gold. CRA is offering 45 cents per share for Grants Patch and 90 cents for Kalimantan Gold. Grants Patch has 35
        82 words
      • Article
        Rhone-Poulenc reorganisation
        74 4 FRENCH state-owned chemicals group Rhone-Poulenc, ♦ifhich on Wednesday reported a 13 per cent drop in earnings, has announced a far-reaching restructurJ 4jhg of its Spanish operations. As part of the reorganisation, Jlhone-Poulenc said it was selling the Spanish PVC busii ness of its Rio Rodano subsidiary to Atochem,
        74 words
      • Article
        Mitsubishi buys Italian stake
        68 4 %4HITSUBISHI CORP said it purchased late last month 30 ['per cent of Confezzioni FG SpA, an Italian apparel maker. IMitsubishi, aiming to expand its apparel business in Eu- ;«rope, said it spent about 1.5 billion yen to obtain the Interest. The company plans to launch a
        68 words
      • Article
        Edizione buys 80pc of Prince
        72 4 "iDIZIONE Holding Spa, the financial holding company '">hich controls Benetton Group Spa, said in Milan on 'Thursday that it had bought an 80 per cent stake in Prince foldings Inc, the US tennis racket maker. Prince had net >;-sales of around US$l5B million in 1989,
        72 words
    • Article
      Lock icon Mack Trucks agrees to be bought by Renault
      463 4 NYT MACK TRUCKS Inc, the financially ailing company whose name is still widely used to refer to all American 18-wheelers, announced on Thursday that it had agreed to be purchased by Renault, the French state-owned car and truck maker, for US$lO3 million.
      NYT  -  463 words
    • Article
      Lock icon ICI revamps continental operations
      431 4 Reuter IMPERIAL Chemical Industries pic, Britain's largest chemical group, said it is restructuring its operations in continental Western Europe, where its 1989 sales were £3.2 billion or 25 per cent of the total, to prepare for the 1992 EC single market. A new company, ICI Europe,
      Reuter  -  431 words
    • Article
      ICI Thailand aims to double annual paint production
      213 4 ICI PAINTS (Thailand) Ltd plans to double its annual paint production capacity to 20 million litres, according to the Bangkok Post. Managing director Suphatr Tansathitikorn said a feasibility study, which should begin soon, was expected to be completed within six months. The
      213 words
    • Article
      Lock icon Enasa deal nearing conclusion, says Daimler
      303 4 Reuter NEGOTIATIONS between Daimler-Benz AG and Spain's Instituto Nacional de Industria (INI) over the future of truck maker Empresa Nacional de Autocamiones SA (Enasa) are very close to completion, a Daimler spokesman said. "Currently the talks are taking place at a very high level
      Reuter  -  303 words
    • Article
      Shangri-La to take over running of hotels
      259 4 THE KUOK FAMILY'S Shangri-La International Hotel Management Ltd plans to assume the management of the Kowloon Shangri-La from Westin Hotels in a step that would consolidate the group's hotel management base, according to the South China Morning Post. Hendrik-Jan Bosh, general manager of
      259 words
    • Article
      Lock icon Australian Cabinet approves airline privatisation
      353 4 AP THE Australian Cabinet has approved in principle the partial sale of Australian Airlines and Qantas, along with establishment of competition for Telecom, the government telecommunications monopoly. But the decision made late on Thursday still faces a number of questions. The governing Labor Party's 18-member
      AP  -  353 words
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      Page 4 Advertisements Column 1
      100 4 Property The property market has been forging ahead in the past two years. The question now is, will it hold? Business Times special supplement on property and construction looks at the trends in the residential, commercial, industrial, retail and hotel sectors. With Singapore companies looking further afield for opportunities, we
      100 words
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      Page 4 Advertisements Column 2
      2 4 Opinio*, EL2
      2 words
  • Page 4 Miscellaneous
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  • FINANCIAL NEWS
    • Article
      Lock icon Japan bends to banks' strong need for capital
      372 5 Reuter JAPANESE BANKS' urgent need to raise fresh funds to meet international capital standards has forced the Ministry of Finance (MOF) to soften its regulatory grip. "Banks are now desperate for capital after the recent stock market plunge, and the ministry is
      Reuter  -  372 words
    • Article, Illustration
      Greenback unlikely to shake off bears in short term
      443 5 The long-term technical outlook for the US dollar remains bearish, says DBS Bank in the first of its weekly series on currencies USS/DM remains in bearish channel ON THE weekly bar chart, US$/DM is still trading within a downward channel. The
      443 words
    • Article, Illustration
      Lock icon Bad real estate loans cut US banks' profits
      315 5 NYT MOUNTING problems with real estate loans along much of the East Coast of the US cut profits of America's commercial banks to US$5.3 billion in the second quarter, 15.9 per cent below those of the first three months of the year,
      NYT  -  315 words
    • SMALL CHANGE
      • Article
        Citibank to cut Australian prime
        75 5 CITIBANK Ltd will cut its Australian prime rate to 16.SQper cent from 17.00 per cent, effective Sept 10, a bank spokesman said. Citibank is the first bank to reduce its prime rate below 17 per cent in the recent round of Australian prime rate reductions.
        75 words
      • Article
        Move against banking secrecy
        100 5 SWITZERLAND'S Federal Banking Commission (EBK) stepped up its attack on the country's tradition of banking secrecy and said it might remove the banks' right to griant certain customers' anonymity. At present lawyers or trust administrators can open accounts on behalf of anonymous clients by agreeing to
        100 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      82 5 OPPORTUNITY OP A LIFETIME FOB SALE HSU 888 This unique U.K. car registration mark is available for immediate sale at £25,000 oji.o. We can transfer this mark from our vehicle to any other vehicle registered in the United Kingdom. Don't miss this chance to enhance your image with a distinctive
      82 words
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      Page 5 Advertisements Column 2
      206 5 HB^BSI^BS^B^HSH 1 4 :t IB H jiS^P $|r* jp p IS -mm? ;fl|V v ¥W *4fYBBB^^^H^^BIHBBHHI SOLE AGENT SERVICE CENTRE W'E'L'L'T'l'M* I. SINGAPORE PTE LTD 435 Orchord Rood #12-01 Wisma Atria, Singapore 0923 Tel *****11. Authorised Dealers All Watches Leather Pte Ltd Te» *****23 As»a Watch Centre Pte Ltd Tel
      206 words
  • Page 5 Miscellaneous
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  • THE REGION/WORLD
    • Article
      Lock icon US corporate chiefs to help Moscow
      509 6 Technical assistance to boost falling Soviet oil output NYT AP TO GET more energy onto worirf markets, the Bush administration is encouraging the American oil industry to provide technological and other assistance to the Soviet Union to raise petroleum output, Commerce Secretary Robert Mosbacher
      NYT; AP  -  509 words
    • Article, Illustration
      Lock icon Shevardnadze hits out at Japan's policy
      489 6 Reuter SOVIET Foreign Minister Eduard Shevardnadze on Friday criticised Japan's policy of denying economic aid to Moscow until disputed islands are handed back. Mr Shevardnadze said, however, that the political climate between the two countries had substantially improved. "It is a wrong policy to
      Reuter  -  489 words
    • Article
      Lock icon Gulf crisis deters Japanese investors from East Europe
      290 6 Reuter JAPANESE capital and management are urgently needed in East Europe, but the Gulf crisis has made it even less likely it will go there, speakers at a seminar said on Thursday. The seminar, entitled "Eastern Europe: New Opportunities and Recent Developments",
      Reuter  -  290 words
    • Article
      South Korea to give big boost to exports
      201 6 THE South Korean government has embarked on a big export promotion programme as dwindling indusr trial competitiveness and the Persian Gulf oil crisis threaten to plunge the country's trade account deep into the red for the first time since 1986, according to
      201 words
    • Article
      Lock icon Taipei rules out direct trade with China
      171 6 AFP THE Taiwanese government yesterday rejected a Justice Ministry proposal for direct trade, investment and technical cooperation with China, a Cabinet official said. In reviewing a draft law governing relations across the Taiwaa Strait, members of the government mainland affairs committee scotched the
      AFP  -  171 words
    • Article
      Lock icon A showcase of Vietnamese goods
      464 6 AFP VIETNAMESE consumers with a preference for domestically produced goods can now buy anything from "genuine" Levis to champagne and curry powder if they have the money. State and private manufacturers have been busy tapping Vietnam's vast natural resources to produce a staggering range of
      AFP  -  464 words
    • WORLD WATCH
      • Article
        Thai parliament passes first balanced budget
        100 6 THAILAND'S parliament yesterday passed the country's first balanced budget after a lacklustre two-day debate in which the opposition failed to effect marginal cuts of some proposed ministerial allocations. The elected House of Representatives approved with a 218-93 vote the record 387.S billion baht budget
        100 words
      • Article
        Steel output up, profits down
        90 6 STEEL PRODUCERS' profits have slumped since the start of the year, despite substantial production increases, the China Daily reported yesterday. From January to August, steel production in China the fourth biggest steel producer in the world grew by 8.9 per cent, compared to the same
        90 words
      • Article
        Warning on timber production
        60 6 THE MALAYSIAN STATE of Sarawak must reduce its annual log production by three million cubic metres or risk the depletion of timber resources, an international report said. The New Straits Times daily yesterday said the International Tropical Timber Organisation (ITTO) report warned that only cut-over forests
        60 words
      • Article
        US firms' spending plans
        57 6 AMERICAN BUSINESSES plan to boost spending on plants and equipment S.l per cent this year, the weakest increase in three years. The Commerce Department said a survey conducted in July and August found businesses planning to spend U*****.9 billion for expansion and modernisation this year, the
        57 words
    • Article
      Lock icon Bangkok touted as glittering jewellery store
      430 6 AFP THAI exporters are pushing Bangkok as the jewellery store to the world in hopes of giving it a cutting edge in the international jewels and gems trade and raking in US$4 billion a year by 1995. Work has started on four high-rise malls
      AFP  -  430 words
    • Article, Illustration
      Lock icon Prince Charles holds first solo art exhibition in UK
      62 6 Reuter picture A lithograph based on a watercolour of Windsor Castle by Prince Charles is to be included in his first one-man show in Britain yesterday. The lithograph, published is a limited edition of 295 copies, will be for sale at
      Reuter picture  -  62 words
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  • FOCUS
    • Article
      Lock icon Asian markets feeling heat of Middle East cauldron
      868 7 The Gulf Crisis Reuter THE Middle East crisis is bursting financial bubbles from Seoul to Singapore as surging oil prices portend higher inflation and slower economic growth throughout Asia and analysts say the worst is yet to come. "These markets will reach
      Reuter  -  868 words
    • Article, Illustration
      Don't forget about us
      48 7 Filipino refugees from Kuwait pose with their protest signs outside their tent near Ruweished, Jordan. The group travelled from Kuwait to Baghdad and on to this camp in the no man's land between Iraq and Jordan, where they have been waiting for several days.
      48 words
    • Article, Illustration
      Lock icon OECD nations warned to rein in inflation
      413 7 AFP WESTERN industrial nations and Japan, facing higher oil prices as a result of the Gulf crisis, must respond by curbing any rebound in inflation as a matter of priority, OECD secretary-general Jean-Claude Paye said on Wednesday. "We must above all prevent a
      AFP  -  413 words
    • Article
      Lock icon Fears over Bush's move to forgive Egypt's military debt
      558 7 AP PRESIDENT George Bush's move toward forgiving nearly US$7 billion in military debt Egypt owes the United States could create a stampede for similar treatment for other allies, analysts say. And the move announced this week by the White House, which
      AP  -  558 words
    • Article, Illustration
      Lock icon Jakarta calls for common Asean strategy
      370 7 Bernama INDONESIA has called on other Asean member countries to adopt a common strategy in the face of fluctuating oil prices as a result of the Gulf crisis. Coordinating Minister for Economy Radius Prawiro said drastic changes in oil prices could be fatal to
      Bernama  -  370 words
    • Article
      Lock icon Oil companies seek drawdown plan in case of shortage
      363 7 Reuter MAJOR oil companies in Europe on Thursday called for detailed plans to be made for the release of world oil stocks if the Gulf crisis leads to shortages. The European Petroleum Industry Association (Europia), representing companies with 95 per cent
      Reuter  -  363 words
    • Article
      Lock icon EC's economic prospects clouded by oil price hike
      409 7 AFP EUROPEAN Community (EC) economy ministers will meet in Rome today to find that their once-sunny prospects of economic growth have been suddenly clouded by the Gulf crisis. "If the price of oil stays at or around US$3O a barrel for a
      AFP  -  409 words
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      Page 7 Advertisements Column 1
      145 7 ir-*m IUTKHUL MVIUIIV OF SMMFORK Fg'Yl School of Building and Eatate Management iC/jfefp) I Faculty of Architecture and Building presents A One-day Seminar on Regional Real Estate Investment Opportunities 4 October 1990 Dynasty Hotel For real estate executives and professionals, developers, architects, bankers, lawyers and individuals interested in real estate
      145 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Late buying helps prices to recover from early lows
      4480 8  -  By Quak Hiang Whai SHARE PRICES on the Singapore stock market closed marginally lower yesterday, but above their morning lows, in quiet trading. Dealers said bargain-hunters who made a comeback in the afternoon helped prices recover slightly after the local market
      4,480 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4100 9 Main Board Poiytck 50* 126 23 22.3% KhongGuan 240 20 9.1% UE 173 +14 +8.8% Haw Par 243 +11 +4.7% B Scmbawang 470 +10 2.2% LAM Wt 78 +8 +11.4% FAN 750 +5 +0.7% Semb Maritime 344 +4 +1.2% Tat Lcc Bank 314 +4 +1.3%
    4,100 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market ends easier in volatile trade
      3647 10 Bernama SHARE PRICES on the Kuala Lumpur Stock Exchange finished generally lower after volatile trading yesterday, but most counters managed to inch up from earlier lows on renewed interest and widespread bargainhunting in the afternoon. The KLSE Composite Index recovered from 538.19 at noon
      Bernama  -  3,647 words
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      Page 10 Advertisements Column 1
      185 10 SINGAPORE WE'LL DELIVER TO YOUR HOME OR OFFICE AT NO EXTRA COST! THIS MONTH'S LUCKY DRAW PRIZE jpjyggjQy 1 1 'kLL^jf EXCLUSIVE! tfffk I Subscribe or renew your subscription now. The first |mi|llH^| 180 subscribers will receive a 25ml bottle of Hugo Boss Eau de Toilete Spray Vaporisateur worth $25/each.
      185 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nikkei higher for first time this week
      2310 11 Reuter TOKYO STOCKS ended firmer yesterday for the first time this week after a day of moderately active but volatile trading. Prices dropped to a 1990 low in the morning, then recovered in the afternoon on talk that the crisis in the Middle
      Reuter  -  2,310 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Index up 15.06 points after nervous rally
      2400 11 Reuter AP HONGKONG'S blue chip Hang Seng index rebounded to end higher yesterday after a nervous rally sparked by off-shore rumours of a coup in Iraq. "In the afternoon traders suddenly started covering short positions and that drove the index up," a broker
      Reuter; AP  -  2,400 words
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  • REGIONAL STOCK MARKETS
    • Australian shares defy Tokyo's strength
      • Article
        AUSTRALIA
        837 12 AUSTRALIAN shares closed slightly lower in directionless trade yesterday, defying Tokyo's Nikkei average which recovered from 1990 lows. "There was no real news to keep the market going along. I suspect there will be lower levels next week," a trader said. The All Ordinaries index closed 3.1 points lower
        837 words
      • Article
        Untitled
        83 12 Close Prrrkms S»p7 SYDNEY All Ordinaries Index 1479.0 1482.1 -3.1 All Industrials Index 2207.8 2217.7 -9.9 All Resources Index 911.7 910.1 +1.6 Turnover (million) 101.0 55.10 +45.9 BAncm SET Index 838.06 844.52 -6.46 Turnover (nearest '000) NA 26,729 JAKARTA Composite Index 546.60 -10.55 Turnover (nearest '000) 1.92 3.79 -1.87 mm
        83 words
      • Article
        BANGKOK
        697 12 r'r'THAI share prices closed slightly lower thin and directionless trade yesterday as investors held back on news of fur- ther oil price increases, brokers said. The SET Index fell 6.46 points to close at 838.06. Declines led advances 96 to 47. Most active were Asia Securities, Nava Finance and
        697 words
      • Article
        JAKARTA
        624 12 TURNOVER on the Jakarta stock exchange dropped sharply to 1.92 million shares yesterday from the previous 3.79 million and the Composite Index fell 10.55 points to 546.60. Bank Duta continued to dominate the regular market with 180,000 shares traded. It closed 500 rupiah lower at 6,200. Nickel producer Inco
        624 words
      • Article
        TAIPEI
        286 12 THE Taiwan Stock Exchange was closed yesterday because of the approach of Typhoon Dot. Taipei 6 NTS All Sinccrc Indus 10.65 -0.75 Asia Cement 53.50 -1.5 Cathay Construe 51.00 +0.5 Cathay Life Ins 439.00 -3 Chang Hwa Bank 215.00 -I Chen Shin Rubber 35.70 +0.5 Cheng Loong 21.70 -0.1
        286 words
      • Article
        MANILA
        489 12 PHILIPPINE shares drifted to close lower yesterday after listless trading in anticipation of US military bases talks in Manila and possible announcement of an oil price increase next week, brokers said. The Manila Stock Exchange Composite Index slipped 5.04 points to 712.67 from Thursday's close. Combined turnover on the
        489 words
      • Article
        BOMBAY
        148 12 THE Bombay Stock Exchange recovered marginally on Thursday on rumours that restrictions imposed on Monday would be lifted at the end of the current settlement period on Sept 13. On Monday, the exchange's governing board banned forward trading in 79 issues and said fresh purchases would have to be
        148 words
      • Article
        WELLINGTON
        312 12 NEW ZEALAND shares closed broadly lower yesterday in a day of light volumes, except for a crossing of 6.5 million shares in liquor and fishing company Wilson Neill. Brokers believe Brierley Investments liquor unit Magnum Corp has bought more Wilson Neill shares, after earlier in the day saying it
        312 words
      • Article
        SEOUL
        792 12 SEOUL stocks fell across the board for the fourth consecutive session yesterday, moving toward the 600 level on worries over an expected clearance of massive unsettled accounts, brokers said. The Composite Stock Index stood at 608.90 at the close of the morning session, down 7.39 points from Thursday's close.
        792 words
      • Article
        Untitled
        355 12 la local nvrcacy la SS la USS day year day year day year Sty 6 laden ckaaff chaiy chaagr chaagc d—y World 367.1 -0.3 -21.0 0.3 -24.3 -0.3 -18.2 *EAFE 493.8 -0.7 -27.5 0.3 -28.7 -0.3 -23.0 Europe 387.9 -1.0 -13.9 0.0 -10.0 -0.6 -2.8 Pacific 814.7 -0.4 -35.7 0.6
        355 words
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  • WORLD STOCK MARKETS
    • Dow Jones goes below 2,600 points
      • Article, Illustration
        NEW YORK
        886 13 A SHARP INCREASE in oil prices was blamed for Thursday's 1.21 per cent slump in New York share prices which saw the Dow Jones average of 30 leading industrials close below 2,600 points. The Dow was off 31.93 points to close at 2,596.29 points. With some 126 million
        886 words
      • Article, Illustration
        LONDON
        748 13 SHARES ON the London stock exchange closed sharply lower on Thursday amid concerns about the Middle East and swayed by a weak Wall Street opening, dealers said. The Financial Times-Stock Exchange 100-share index closed down 31.3 points, or 1.4 per cent, at 2,120.9, which was also the day's low.
        748 words
      • Article
        FRANKFURT
        352 13 WEST GERMAN shares ended mixed yesterday, as some stocks rose on shortcovering while others slipped slightly in a very uncertain market. Dealers said the market was waiting for the outcome of the Helsinki meeting of US President George Bush and Soviet President Mikhail Gorbachev. Professional operators were mostly entering
        352 words
      • Article
        TORONTO
        273 13 TORONTO STOCKS dropped in afternoon trade on Thursday after oil prices climbed to more than $31 a barrel. The composite index slid 20.39 to 3,312.80 on volume of 21.83 million shares. Declines led advances 320 to 226. "Nobody wants to do anything with the heightened tensions in the Middle
        273 words
      • Article
        JOHANNESBURG
        396 13 THE Johannesburg stock market opened narrowly mixed yesterday in continued slow and trendless trading as uncertain investors continued to search for direction, dealers said. Gold shares firmed slightly as world bullion prices held firm with help from high oil prices amid the tensions in the Middle East, but the
        396 words
      • Article
        AMSTERDAM
        298 13 DUTCH shares were higher in quiet mid-session trading yesterday and most dealers said they expected prices to hold up during the afternoon. At 1200 GMT the CBS all-share trend index was up 0.6 points at 101.7, not far short of the day's high of 101.9. Professional traders accounted for
        298 words
      • Article
        BRUSSELS
        172 13 BELGIAN shares prices open mixed in low volume yesterday as market operators stayed on the sidelines ahead of Sunday's US-Soviet summit in Helsinki. Traders said Thursday's announcement of first-half profits by three large industrial companies UCB, CBR and Glaverbel had little impact on prices. "People are not very interested
        172 words
      • Article
        ZURICH
        280 13 SWISS shares egded lower in quiet trading yesterday as the uncertainties about the Gulf crisis kept investors sidelined, dealers said. The All-share SPI index was 6.3 points or 0.63 per cent lower at 992.5 while the SMI index of leading shares fell 8.5 points or 0.57 per cent for
        280 words
      • Article
        MILAN
        219 13 ITALIAN share prices opened with slight gains overall yesterday, underpinned by the continuing steadiness of Financials, but the market remains cautious ahead of this weekend's summit on the Gulf, brokers said. Enimont was set 3.7 per cent higher at 1,244 lire before before falling back to lose about half
        219 words
      • Article
        PARIS
        232 13 FRENCH share prices started lower in quiet trade yesterday, depressed by Wall Street's 1.2 per cent drop and by another rise in crude oil prices overnight, dealers said. The CAC-40 index started at 1,591.41, down 18.1 points from the previous night's dose then briefly hovered around the psychologically important
        232 words
      • Article
        Untitled
        45 13 Vienna Sep 6 Asch Akg Holding 4450 -40 E AJlgem (Prcf) ***** 300 Jungbunzl ***** +100 Laendcrbank (Prcf) 632 -8 Lenzing... 1455 +5 Leykam 514 +4 Montana ***** 2000 Ocstcrr Brau 3950 uncto Semperit 144 +6 Steyr 189 +9 Veitscher 905 +15 Source: Austrian Laenderbank
        45 words
      • Article
        Untitled
        84 13 Sep 6 Cloac Preriow NEW YORK Dow Jones 2596.29 2628.22 -31.93 NYSE Financial 123.70 124.70 -1.00 SAP 500 320.46 324.39 -3.93 Turnover (million) 125.62 120.61 +5.01 LONOON Financial Times 30 1639.90 1672.20 -32.30 FTSE 100 2120.90 2152.20 -31.30 Turnover (million) 515.5 344.9 +170.6 AMSTERDAM CBS General 182.00 181.50 I +0.50
        84 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      British pound unfazed by UK decision on ERM membership
      1232 14 FOREX MARKET REPORTS STERLING held steady in midmorning European trading yesterday in spite of comments from Chancellor of the Exchequer John Major, who said Britain would not join the exchange rate mechanism (ERM) this weekend. "The pound was stabilised after Major's
      1,232 words
    • Article
      INTERBANK FOREX RATES
      390 14 Cms rates sepv USS SS MS Dm Yen SFr Aj NZS vssl 1.7630 ***** 1.5550 140.50 0.5241 1.2980 1.2121 1.5974 SS 0.5672 1.5247 0.8820 0.7969 0.2973 0.7362 0.6875 0.9061 MS 0.3720 65.59 0.5785 0.5227 0.1950 0.4829 0.4509 0.5943 Dm < 0.6431 1.1338 1.7286 90.35 0.3370 0.8347 0.7795
      390 words
    • Article
      MONEY MARKET
      559 14 Interbank rates S$ Bid Offer Overnight 6 1/2 6 3/8 1-month 6 3/8 6 1/2 2-month 6 7/16 6 9/16 3-month 6 1/2 6 5/8 Overnight mode: 6-1/8 US> BM Offer 7 days 8 8 1/8 1 month 8 8 1/8 2 months 7 IS/16 8 1/16 3
      559 words
    • Article
      FINANCIAL FUTURES
      1557 14 SIMft EUMOOLLAJt Open High Low Sett Est Vol Op/lnt Vol Sep 90 92.02 9103 9101 92.03 2005 ***** 2144 Dec 90 92.10 92.13 92.08 92.11 ***** ***** ***** Mar 91 92.04 92.07 92.04 92.05 3000 8218 2562 Jun 91 91.89 91.91 91.87 91.89 528 1501 433 Sep 91
      1,557 words
  • Page 14 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Japanese ethylene output set to fall if naphtha prices rise
      563 15 Reuter JAPAN'S production of ethylene is likely to fall below previously projected levels if tension in the Mideast Gulf continues to drive up naphtha feedstock prices, petrochemical industry sources said. Producers of ethylene, a plastics raw material, have not cut
      Reuter  -  563 words
    • Article, Illustration
      Lock icon Soviet factor stirs US commodity markets
      369 15 Exporters hope Moscow will get American credit AP COMMODITY markets in the US have been buzzing for days about the possibility of a credit arrangement for Moscow when President George Bush meets with Soviet counterpart Mikhail Gorbachev tomorrow. The Bush administration favours liberalised trade
      AP  -  369 words
    • Article
      Tin perks up while gold and platinum dip
      827 15 REPORTS THE PRICE of tin on the Kuala Lumpur Tin Market closed two sen higher at MS 15.22 per kg yesterday following the better performance on the London Metal Exchange overnight. At the opening level of M 515.20, bids totalled SO tonnes
      827 words
    • Article
      PRICES
      1308 15 Rubber sep7 Noon CVxc Inl I RSS Prompt 157 5<VI58.50N I56 50/I57 50N Inl I RSS Oct 90 157.5<VIS8.30 I56.7VI57.75N Int I RSS Nov I$8.*****00 I57.2VI58.25N Int 2 RSS OP IS2.0(VI54.00N 151 00/153 OON Int 3 RSS OP I47.30/I49.50N I46.50/I48.50N Int 4 RSS OP l43.yyi43.30N I42.50/I44.5ON Int 3 RSS
      1,308 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      35 15 GET THEM NOW! M--i "•i iStSif I *"*^ll [S yj Available At Times the Bookshop, Guardian Pharmacy, 7-Eleven, Newsstands and from your Newsvendor Published by Times Periodicals Pte Ltd. A member of Singapore Press Holdings
      35 words
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      Page 15 Advertisements Column 2
      15 15 Read Charlpoint, a guide (o investing in the stoek market. Every Saturday in Business Times
      15 words
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  • Article
    AIPO meeting expected to strenghten Asean bond
    446 16  -  By Anna Teo THE 1 Ith Asean Inter-Parlia-mentary Organisation (AIPO) working committee and general assembly convening here next week may provide fresh impetus for the concept of Asean economic cooperation. A new approach to intraregional economic cooperation may emerge from the coming talks,
    446 words
  • Article, Illustration
    Lock icon North-South Korean talks end on positive note
    383 16 Reuter NORTH and South Koreans parted at the border yesterday with laughter and promises to meet again soon after talks which they described as a first step in warming 45 years of frozen relations. "What wc had before was contact. What we have
    Reuter  -  383 words
  • Article
    Lock icon US faces worst budget crisis in its history
    573 16 AFP EVEN without having to cough up a billion dollars a month to finance its military operations in the Gulf, the United States faces the worst budget crisis in its history. With the new fiscal year beginning on October 1, the majority
    AFP  -  573 words
  • Article
    Lock icon 'National Bank of Kuwait sold US$ l.35b of assets'
    282 16 Reuter THE National Bank of Kuwait sold a total of around US$l.35 billion of assets immediately after the Iraqi invasion of Kuwait, a senior bank executive said. The executive, who declined to be named, said around US$l billion of the total
    Reuter  -  282 words
  • Article
    Lock icon KL banks warned against speculative share financing
    467 16 Bernama MALAYSIAN Prime Minister Datuk Seri Dr Mahathir Mohamad yesterday cautioned banks against financing share purchases of a speculative nature and going too much into financing property development. He said the stock market was once again seeing excessive speculation which pushed up prices
    Bernama  -  467 words
  • Article
    Lock icon M'sian team keen on Korean investments
    173 16 Bernama THIRTY-TWO top Malaysian businessmen who will accompany Prime Minister Datuk Sen Dr Mahathir Mohammad on his visit to South Korea next week are going there with a broad range of objectives, including attracting Korean investments and technology. The businessmen expressed interest in stepping
    Bernama  -  173 words
  • Article
    Lock icon Breakthrough in Cambodian peace talks expected
    247 16 AFP DIPLOMATS predict a breakthrough in peace talks in Jakarta as the world's major powers pressure Cambodia's warring factions to end their almost 12-year-old conflict. A broad agreement to support United Nations peace proposals was expected despite last-minute squabbling over representation at the talks,
    AFP  -  247 words
  • Article
    Lock icon Li Peng dismissed as head of think tank
    207 16 Reuter CHINESE Premier Li Peng was dismissed as head of a key economic think tank bat Chinese economist* said the more did not signify n fall from grace for the hardline lender. China's National Rndio said Chen Jinhna, 61, president of the
    Reuter  -  207 words
  • Article
    Lock icon Shrinking corporate profits a threat to Japan
    387 16 Reuter SLOWING growth in corporate profits could threaten the twin pillars of Japan's economic might capital expenditure and personal consumption, economists say. Climbing costs and tumbling markets arc taking a heavy toll on the profits of Japanese companies as they prepare to close
    Reuter  -  387 words
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  • Executive Lifestyle
    • Article, Illustration
      She's for real, but that's a fake
      1246 17  -  What you see is not what you always get. Sometimes, it's better, says Cassandra How, as she meets a lady who makes art copies Cassandra How DAGMAR Seiffert is beautiful, but art thieves hate her. Museums and art lovers, however, love her. She
      1,246 words
    • STRAWS IN THE WIND
      • Article
        Digital fate
        59 17 SOME TIME BACK, wo fan a straw on superstitious Chinese who apparently avoid the Alfa 164 because the number sounds like M <fie all the way" in Cantonese: So agents Milan Auto are ppw selling "168" badges. This number sounds like "prosperity all the way" and the badges
        59 words
      • Article
        Or the level
        21 17 WE KID YOU NOT. A Luxembourg company sent a fax addressed to Business Tillies and The Straight Times.
        21 words
      • Article
        Elevators
        43 17 WE ALL KNOW about executive officers. But at least one stat board thinks that's not good enough. WhiA is why some of its staff are .designated Higher ficers. If some of them~«rc promoted, would they ifcen be known as HighEST Etttetive Officers?
        43 words
      • Article
        Road dough
        63 17 YOU'VE GOT jogging sines, jogging suits, but wait No self-respecting jogger would be complete without stopping by the bakery in Royal Holiday Inn Crowne Plaza fer some "jogging bread". Do you have a straw to skin with us? Send your conttftlr tions to: Lifestyle Ed&gr. Business Times, 390
        63 words
    • OPINIONS
      • Article, Illustration
        The time to work together is now
        1077 18  -  Mano Sabnani on why there is a potentially exciting and rewarding period ahead for the Indian community Mano Sabnani Mono Sabnani is the editor of BT and Singapore Business rHERE were two shocking developments concerning the Indian community in Singapore this week. The
        1,077 words
      • Article
        Room for change in the hotel industry
        942 18  -  Exciting times lie ahead for the Asia-Pacific, writes Lee Han Shih Lee Han Shih Lee Han Shih is a senior correspondent THE break in a 20-year relationship between Mr Robert Kuok's Shangri-La group and the Westin hptel chain will be completed by next
        942 words
      • Article
        Promise of style turned out to be a letdown
        138 18  -  LETTERS TO THE EDITOR Zainal Abdul Kadir I WAS disappointed with your recent supplement, Aspects of Style (Aug 28). After weeks of promising what a great issue it was going to be, the actual product was a mixed bag of information.
        138 words
      • Article
        Fare hike proposals
        103 18  -  Lee Kok Kee Secretary Public Transport Council WE REFER to your article, "Diesel vehicle operators likely to raise rates" (BT, Sep 6). The last paragraph of the article stated that proposals for a fare hike will probably be made on Sep 22 when the Public Transport Council
        103 words
      • Article
        Experience is a good substitute for qualifications
        148 18 I REFER to the letter by "No Paper No Experience" (BT, Sep 1-2). I would like to make it clear that I have never equated "money-making" prowess with entrance requirements demanded by a professional body. In the case of the Real Estate Agency
        148 words
      • Article, Illustration
        Not seeing through the man
        936 18  -  Harish Mehta on how the West has helped Saddam Hussein Harish Mehta Harish Mehta is a writer on the politics and economics desk SADDAM Hussein's so-called evil empire is a creation of the United States and Europe, not just the Soviet Union all of whom
        936 words
    • SPORTS
      • Article
        Lock icon Why game should stay in NY
        507 19 IHT FROM THE top row of the tennis stadium you absolutely cannot tell how much topspin is on the ball. But once the weather clears, you can surely see the New York skyline, shimmering a few miles to the west. On a sunny day
        IHT  -  507 words
      • Article, Illustration
        Lock icon Becker splutters to victory
        547 19 The US Open AFP AP DEFENDING champion Boris Becker awoke from a firstset stupor after a dispute with an umpire, then broke down Aaron Krickstein's baseline game to charge into the USOpen semifinals. After winning 3-6, 6-3, 6-2, 6-3 on Thursday, Becker smiled slyly and said
        AFP; AP  -  547 words
      • Article, Illustration
        Aerobics is his business
        479 19  -  By Cassandra How SOME PEOPLE take up aerobics just to reduce their adipose tissues or to show off their latest curves and bulges. For Brett Fairweather, it was the instructress who sparked off his interest in aerobics. A late-starter in a business that requires a flexibility
        479 words
      • Article
        Lock icon Melbourne working hard to get to host Olympics
        207 19 AP AUSTRALIA'S second-larg-est city hopes to convince the International Olympic Committee that it is time for the Olympic Games to come to the southern hemisphere for the second time in 100 years. Melbourne, the only city south of the equator to host
        AP  -  207 words
      • SIDE LINES
        • Article
          Spurs star told to concentrate on football
          140 19 ENGLAND WORLD CUP star Paul Gasooigne has been ordered to concentrate on playing football after a hectic aeaes of personal appearances led to him losing his touch on the field. Tottenham have told the gifted 23-year-old midfidder to cut down on his lucrative
          140 words
        • Article
          Tyson may fight in a few months
          142 19 FORMER HEAVYWEIGHT CHAMPION Mike Tyion may Tight again in a couple of months, but the gashover his eye which took 48 stitches to close last week will not be fully healed for about a year, according to his doctor.. Oae of the reasons
          142 words
        • Article
          Lewis and Burrel to race
          94 19 THE WORLD'S two fastest athletes, Carl Lewis and Leroy Burrel, will compete in a 100-metre race in Athens-this week, they said on Wednesday. It will be the second Time this year that the two US sprinters will compete. The first was in the Goodwill Games
          94 words
        • Article
          Remarkable turnaround
          99 19 THE PITTSBURGH PIRATES' first three-game sweep over the New York Mets in 12 years completed a remarkable three-day turnaround in the National League Easfc*But the Pirates aren't ready to raise a championship flag —and the Mets aren't waving a flag of surrender. The Pirates beat the Mets 7-1
          99 words
    • EPICURE
      • Article, Illustration
        Lock icon The dignified duke
        773 20  -  Quek Swee Peng delights in the rediscovery of regal dining at Le Due, Omni Marco Polo's uppity restaurant Quek Swee Peng AS FAR AS I could remember, it was once known simply as the Marco Polo Restaurant. Understated, but definitely a delightful dinQlK hideout which tossed up
        Punch  -  773 words
    • LIFESTYLE 1
      • Article, Illustration
        Champagne styles
        947 21  -  No other wine comes close to champagne, writes N K Yong in the second part of his article on the bubbly N K Yong THE ART of champagne lies in the blend of the white chardonnay, the red pinot noir and a little pinot meunier. One can, with
        947 words
      • Article, Illustration
        Sham sacrifices
        527 21  -  BRIDGE By Tan Boon Tiong Sometimes in the game of chess, a player may sacrifice a piece in order to capture a larger piece or more pieces a few moves later. Such sham sacrifices can also take place in bridge. A hand where this may occur is shown
        527 words
      • Article, Illustration
        Furniture that's just out of this world
        474 22  -  Jaime Lye rWO LITTLE ALIENS were walking down the Milky Way one light year when one turned to the other and said: "eeZ bliP zebooB?" which in English means: "Do you want to go down to Earth and grab an ice-cream?" Since it
        474 words
      • Article, Illustration
        I'll have a baby pizza, please
        536 22  -  and confusion assail Samuel Ee when he sees The Guardian Samuel Ee Along time ago, people used to gather around a story-teller so that he could read aloud for their entertainment. As time progressed, more people became literate and started reading these stories for
        536 words
      • Article, Illustration
        When a prince of jazz turns into the Caliph of Cool
        609 22  -  CO REVIEW By Ringo Liew Harry connick, jr: We Are In Love Among princes of jazz royalty, Harry Connick, Jr's bloodline is as blue as they come. A child prodigy from the altar of New Orleans, he has paid
        609 words
    • PURSUITS
      • Article, Illustration
        Operapper's Delight
        331 23  -  Unable to tell a tenor from a tenner, confirmed rapper Samuel Ee accidentally finds himself at Placido Domingo's concert asking himself, "When are the Beastie Boys coming on?" When they don't, he decides to pen his protest with his version 0f... Samuel Ee CALL me crass Say I
        331 words
      • Article, Illustration
        The singing baroness
        519 23  -  By Paul Ramani For a baroness, Rosemarie Freni is not one to sit by and watch the world go by. She isn't even interested in living in the lap of luxury which most "blue-blooded" individuals are used to, or indeed, expected to embrace. She is in fact
        519 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          No snacks here, for sure
          235 24 IF ANY PROOF is needed that Singapore shareholders are a docile lot, look no further than the extraordinary general meetings to be called by Singapore Land on Sep 17. The EGMs are for a proposed bonus issue of shares and warrants. Two meetings are needed,
          235 words
        • Article
          Seen, at last
          153 24 SPEAKING OF UIC, one tends to think of its chief executive officer Oei Hong Leong, who is so publicity-shy that it har become almost legendary. Nevertheless, the enigmatic businessman seems to be slowly coming out of his self-imposed cocoon. First his picture was taken at the opening
          153 words
        • Article
          Life's not so bad Down Under
          184 24 WHILE Mr Alan Bond has been grabbing all the limelight, not every tycoon is doing badly in Australia. In fact, one of its leading lights, Sir Ron Brierley, is enjoying such good business that he has decided to spend lavishly on his new offite.
          184 words
      • Article, Illustration
        Investment inclinations dominate trading
        932 24  -  Ruth Corb assesses the 1989/90 auction market season Ruth Corb Ms Corb is a consultant with Sotheby's It! HE RESULTS of auc- tion sales worldwide i during the traditional a£ market trading cycle, wfich spans the period of 1989 to the end of Jigy 1990 have
        932 words
      • Article, Illustration
        Is the US in a recession?
        656 24  -  Yes, and maybe, say two US economists interviewed by Barron's. Quak Hiang Whai compiles their opinions Quak Hiang Whai THE US economy, under the pressure of high interest rates, was in for a recession even before Iraqi leader Saddam Hussein's troops crossed into Kuwait,
        656 words
      • Article, Illustration
        Gulf crisis still calls the tune
        521 24  -  CHART By Najeeb Jarhom Mr Najeeb Jarhorrtisj Research Manager of Fraser Roach Sc. Co Pte Lta WITHOUT a settlement of the Gulf crisis, whether through military or peaceful means, it would be very hard to gauge the direction of the Singapore stock market. The
        521 words
      • Article
        Warrants: premiums and gearing
        630 24 n I Pr» rv^unV Pricaa I h at ft B BOI 1 1 1 ■rwnSI *31 <<*• w 50unt) itM fflM\ Company Amount Imnii [m units) Share Lnatk Conv ratio Eaar prtoa Lnatk nom v®Ju# a w Lnatk* Oaarlng 4 DM* "ST C4CW1 37.5 fKU 3.900
        630 words
      • Article, Illustration
        Apparent winner in crisis
        1009 25  -  Recent developments have led to noticeable shifts in exchange rates. Professor Norbert Walter looks at the movements of the Deutsche mark while Alan Budd suggests the direction of the British pound Professor Norbert Walter Alan Budd Apart from the possibility of military escalation, the ongoing situation
        1,009 words
      • Article
        When in trustees we trust
        744 25  -  Berry Kwock examines the the role and responsibilities of a trustee of unit trust Berry Kwock Mr Kwock is the managing director of Standard Chartered Bank Trustee Singapore Ltd U- NIT TRUSTS are merely one of the more popular commercial applications of the broad trust
        744 words
      • Article, Illustration
        High UK rates, oil price fears bolster sterling
        678 25 STERLING remained firm for most of August, at one stage breaching the DM3.00 level for the first time since October 1989, and rising to a nine-year high against the generally weak US dollar. It was also underpinned by the high level of
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    • JOBS
      • Article, Illustration
        Out on the Rim
        1013 26  -  Harish Mehta meets an Englishman who has found a life, a home, a few jobs, and a grand vision in Asia Harish Mehta Michael Morris wanted to step into the shoes of Albert Einstein, no less, but he realised regrettably that his IQ was half of
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      • Article
        The selling of US graduates in Japan
        213 26 Anew maxim, "the selling of Americans," is destined to become the headhunted mantra, following the formation of an employment service to market American graduates in Japan. Meanwhile, the original slogan "the selling of America," which nutshelled America's fears of Japan buying into the
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      • Article, Illustration
        PEOPLE IN BUSINESS
        317 26 Andrew KefTord has been appointed divisional marketing director of Cerebos Brand's Division, a division of Cerebos Pacific Limited (CPL), based in Singapore. Before joining the company he was the managing director of Bozell Singapore. He also has had extensive experience in the advertising business in several Far
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    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1030 27 City FlgM n* Flglrt ED HkDtow MriaWa SQ226 2035 QPBl 2005 DmMH SQ23 1350 KL838 2115 KL837 1430 SQ24 2200 kaeUmi TE25 1610 TE28 1730 SQ338 1925 BA12 2200 7 I SQ182 0915 1^—i SQ181 1410 Of62 1135 TG402 0830 TG403 1155 0664 0850 SQ69 1210
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    • THE TRAVEL PAGE
      • Article, Illustration
        The centre of the Catholic church
        667 27 LETTER FROM ROME IN ITALY, if you have a resplendent and comfortable lifestyle, the Italians say you enjoy a vita di papa, which means "you have the life of a Pope". Anyone who know anything about Rome knows for certain that the city on
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      • Article
        MONEY CHANGER RATES
        152 27 As at 3pn yesterday: Local dollars to oae unit of foreign umcacy Currencies Bid Offer Australian dollar 1.4470 1.4670 Canadian dollar 1.5100 1.5300 NZ dollar 1.090 1.1200 Sterling pound 3.3350 3.3550 US dollar 1.7660 1.7760 Local Mian to 100 nits of foreigB currency Austrian schilling 15.70 16.70
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      • Article
        WORLD TRADE EXHIBITIONS
        73 27 Duration Title Venue Organiser Sep 7-17 International Switzerland Schweuer Muster 61/686.20.20 Fair Mustermesse Sep 10-16 International Spain Foirc 3/423.31.01 TV, Sound and De Barcdone Efectronici Sep 13-11 International Paris Scmaine 1/*****569 Leather Week Internationale Du Cuir Sep 15-20 International Germany Muncheaer W/***** Trade Fair for Mcmc the
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    • TIME OFF
      • Article
        THEATRE
        231 28 journey to Vienna i Conducted by Lim Yau, soloist Yeo Kuei Pin on piano. Pieces from Mozart, The Marriage of Figaro Overture K492, Beethoven, Piano Concerto No 3 in C minor op 37 and also selection of works by Johann Strauss 11. Venue: Singapore Conference Hall. Date: Sep 21.
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      • Article, Illustration
        EXHIBITIONS
        253 28  -  Compiled by K Jayanti Masters of The Female Form An unusual and masterly exhibition of fine paintings, drawings and sculptors of women by various masters, including Picasso, Warhol, Moore, Tissot, Erte, Pasmore, Kahraman, Giovangigli, Balias and Asfour. Venue: Allan Art Galleries, #03-31 Shaw Centre, Singapore 0922. Date: Sep 15
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    • Article, Illustration
      CINEMA
      485 28 Death Warrant When he realises he can't make a living as a kick-boxer, Jean-Claude Van Damme signs up as an undercover cop. But the bad guys get suspicious when he trips each time he tries to do a flying kick. Midnight tonight at Orchard and Marina 1. Dick Tracy.
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  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      189 17 ansa KT iß>* Since 1735 there has never been a quartz s Blancpain watch. And there never will be V't l' ->vV* H I (if m p" > Jf I 1 t 111 *w# 'oAll l\\ jjSwiv vt-%. illi&7 q \o\v -if uu^^h vJHL *e A PJmm I Model shown:
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      21 18 Doonesbury bv garry trudeau 7n IDOtCTUMTTU OOM£ONJO.-OHCB YOU& T/01ccc I BAIIMQVM* J* TALK TO HIM. OH*7HO&,W&6ONNAMaS HELLO* 2? ONtHCALUN6TO ALL7H&PffiPLE- IN
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  • Page 19 Advertisements
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      61 19 new I ATTRACTIONS llUit ■ritffp H I Presenting a complete meal of nasi', satay, achar, kuehf and $10.50. A* ir 'NMll Both sets are available at both lunch and dinner. Mew quoted arc subject to 10* sender charge and 4* ceaa. novotel orchid Singapore 214 DUNEARNHCAD. SINGAPORE 1129. TEL: *****22
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  • Page 19 Miscellaneous
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  • Page 20 Advertisements
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      Page 20 Advertisements Column 1
      247 20 WHERE TO WINE, DINE AND ENTERTAIN...WHERE TO WINE,DINE AND ENTERTAIN...WHERE TO WINE, DINE... Ethe tea room takes you SOUTH OF THE BORDER. It's fiesta time at The Tea from the Camino Real of .Room. So grab your sombrero Mexico City. and come with us down September 3-16. Dinner t Mexico
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      Page 20 Advertisements Column 2
      320 20 W ooimg&s J TAHFORWANTUIS!^ J TOO LATE FOR BREAKFAST? TOO EARLY FOR LUNCH? californian 1 BUFFET J BRUNCH '/■EL DELIGHTFUL HOT AND COLD DISHES. A JAZZ r Hv BAND TO PUT YOU IN A MERRY MORNING M/ MOOD. EVEN A LEGO PLAYGROUND 1- NEXT DOOR FOR THE SMALL ONES. I
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    • Advertisement
      Page 20 Advertisements Column 3
      289 20 ——mmm "HT Celebrate Singapore's 25th Birthday with an unbeatable 25% Discount on all a-la-carte dishes at the Seafood-Theatre Restaurant. J Feast on a dazzling selection of Cantonese-Thai delicacies, from Spicy Seafood Combination Id Braised Beef f t Tendon, all prepared to perfection with the choicest ingredients. z' Offer Valid: For
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      Page 20 Advertisements Column 4
      317 20 FAGGOTS PEAS# AT THE BELVEDERE You'd be charmed by our spread of over 60 traditional favourites in our delightful British Buffet. And we're suae you*ll fall hopelessly in love with our Blueberry Fool. British Buffet Lunch* Sept 1— 30 Noon 2.30 pm Adult: $36+ V Child below 10: $18+♦ u
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      150 21 AND ENTERTAIN Just Your Cup Of Tea. Teatime at Cafe-in-the-Park is a delight: a generous buffet spread of oven-fresh teatime treats accompanied by exquisite blends of tea and coffee. A© Century Park Sheraton Singapore 16 NASSIM HILL, SINGAPORE 1025. TEL: 7J2 1222. CENTURY PARK SHERATON IS OPERATED BY ANA HOTELS.
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      Page 21 Advertisements Column 2
      205 21 SINGAPORE'S •jf QQ SpST RESTAURANTS -«c©«nrMM*-TUNK-KA OF THAILAND Rated as one of the 100 BEST restaurants in Singapore, Tunk ka of Thailand scored FULL MARKS for its food quality. It's the choice of Tatler's readers for the best place to eat in Singapore. At Tunk-ka, it's more than a matter
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      Page 21 Advertisements Column 3
      105 21 TnAi^^ M and K\/lIVA Karaoke Lounges FINEST RUSSIAN AND CONTINENTAL CUISINE Romantic Candlelight Dinner With Karaoke at Troika Happy Hours Daily $12.00++ One for one drinks MMNNNNNNNNNMNNNNNNNNNNNMNNNNHMMHNNNNNNNNNNNNNNNNNNNNNNHMNM Restaurant Hours Lunctv Karaoke Hours Mondays to Saturdays Daily1130am to 230pm 7 to 2.00 am Dinner. r Mondays to Sundays Tel: *****22 6.00pm
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  • Page 23 Advertisements
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      Page 23 Advertisements Column 1
      74 23 -i .1 '">" o Jhßr I KJU v 11 10 f 4 COMMIT UIIIES M«» o»tn T/M'WSrjf.O io«Bo» £«ci*»c I 1 »»M«T tc«cct V ti» Bittmcts I GQRMtfS |^?~5 Hi SPECIAL Jb Wk .X 8? •!HB LONDON »ff > j|i P JUI DRY GIN 11 M 3 Bfl&k ENGLAND Jl
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  • Page 25 Advertisements
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      Page 25 Advertisements Column 1
      39 25 Whatever the 21st century holds, have the assurance of financial security and peace of mind. mj At Great Eastern Life, we're committed to taking M care of you for life. M We take care of you for Me 2
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      Page 25 Advertisements Column 2
      183 25 B"' S r V I^^^^BBi H LET US HELP TURN YOUR IDEAS INTO ASSETS n a business it takes ideas to move you For years, Hong Leong and Singapore ahead. At Hong Leong and Singapore Finance have worKed with thousands of Finance, we provide the expertise and put businesses of
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  • Page 26 Advertisements
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      Page 26 Advertisements Column 1
      634 26 With over 5,000 employees in 60 offices worldwide, Towers Perrin is one of the world's leading independent management consultants specialising in all aspects of human resource management Our Far East Region, with officesin Singapore, Hongkong and Tokyo, represents one of the fastest growing and challenging markets for our consulting services.
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      Page 26 Advertisements Column 2
      215 26 DHL IN THE NEWS Advertisement DHL EXPANDS INTO INDOCHINA With rich natural nationally, DHL has set upoffices service for our outgoing do^ resources and abundant supply in Cambodia, Laos, Vietnam merits since we started business of labour, Indochina has been and Myanmar. in Vietnam* said the Man^jfrt^J seen by foreign
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  • Page 27 Advertisements
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      Page 27 Advertisements Column 1
      32 27 lhc HUMMO* ptrM»n > whoui- v.v w r\ IIKMI.IV. I s it urJj\ in«! s un»ia\. 1t.»\ b.in^i N EV v YORK A r.i;i: i ll >i i;!■:-> n A 11: V^V AirCanada
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      Page 27 Advertisements Column 2
      40 27 i' I MM BATTLEPIJIN wjgmw How- military observers see it TNP YESTERDAY BUT 2 ON US war option! Hit Soddam before y NEXT: Recapture Kuwait... land, sea and air offensive by US COMING: Counter-attack...US response if Saudi Arabia is invaded
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  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      185 27 vr roch 8 Protest about another Sd te didlv (8) monster < !l > YESTERDAY'S SOLUTION 28 Keep taUy of the best to DOWN yet (6,5) M 1 H p l T M B l L E liff^l e lfl R l 2 Men in the line went 14 Uve
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      202 27 Singapore Report (Thur) Max temp. 31.9* C Assoc humidity 66% Min temp. 24.5"C Assoc humidity 92% Hrs of sunshine 6.10 Rainfall in mm 1.0 Rainfall this mth. 42.2 Rainy days this mth 5 World forecast Asia-Pacific Hi/Lo* Coad. Auckland 16/11 Showers Bangkok 35-26 Showers Beijing 29/20 Sunny Brunei 32-23 Fair
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      38 27 I£»TT IT QV/I&T* HOTWING CPiN BeHeRRD v!!L' I E*CePT TWC IiCJOUG OP NiPPfec! Jones is on houdky -we aocx »o "me (UNO I've GOT TMt PU\C€. TO +C OCC*«IONPiL SCyBS/ OF e IVENMO STANDARD CO. LTD, IMS-WM f
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  • Page 28 Miscellaneous
    • Miscellaneous
      Page 28 Miscellaneous Column 1
      1582 28 TODAY'S TV .*iWWWMM^—— Horsemen of Turkey. Mr/ M§ Raamal Keayalaag. HHliyilSiHiil d|Km 1.40 Eatertaiameat Pr#Mr SmnMae, 10.10pm, SBC 8 s*J***jsF. UMam 1990 *4f JHUHH 2.05 Syyy... Bright and breezy Mak Bo jK 300 rum Ma isn't called Mr Sunshine be- L® Mans, France, and the ijJHJi m Sahah. cause he
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      Page 28 Miscellaneous Column 2
      681 28 MOVIES ON TV Rhapsody la Blue, Men, IOJOpn, SBC 12 6.15pm, SBC 12 cxac tiy a tale of advenA 194S biography of Ameri- ture on the high seas but still ca's favourite composer, a story with water nonetheGeorge Gershwin. Even less. Reefer is the name of a while still a
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