The Business Times, 6 October 1990

Microfilm: NL17117
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times 75* Weekend Edition, October 6-7 1990 MCI (P) 170/12/89
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Philippine uprising suppressed
      50 1 PHILIPPINE government planes yesterday bombed a military camp seized by mutineers, and officials reported the first fire fight with rebels who declared independence for the nation's second-largest island. In Manila, military Chief of Staff Gen Renato de Villa said the two-day uprising on Mindanao island was "finished".
      50 words
    • Article
      Dow down
      46 1 THE US stock market showed widespread losses in early trading yesterday as traders responded to the rejection of a government budget plan. The Dow Jones average of 30 industrials fell 36.38 to 2,480.45 at 10.30 GMT (1430 GMT) in the first hour of trading.
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    • Article
      Footsie down
      36 1 LONDON share prices were sharply lower at midday yesterday on the London Stock Exchange. At about 1115 GMT, the Financial Times-Stock Exchange 100share index was down 31.8 points, or 1.5 per cent, at 2,038.6.
      36 words
    • Article
      PSA supplies centre
      40 1 THE Port of Singapore Authority will set up a Ship Supplies Centre in March 1992 to provide better service to all ships calling at Singapore, said Dr Yeo Ning Hong, Minister for Communications and Information Page 2
      40 words
    • Article
      Singatronics issue
      34 1 SESDAQ-LISTED Singatronics seeks to raise $34m through a rights issue. The funds will be used for various projects including a planned investment in a compact disc manufacturing venture in Singapore Page 3
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    • Article
      No connection
      35 1 A PROMINENT Indonesian banker yesterday disagreed with the comment that the steady decline of the composite index of share prices in Jakarta was due to the alleged fraud at Bank Duta. Page 6
      35 words
    • Article, Illustration
      STOCK INDICES
      28 1 Friday Change BT-MGA 561.49 -064 Kuala Lumpur ...470.06 2.74 Hongkong 2,830.45 *12.1 22,827.65 549.46 Sydney 1,356.8 -11.7 n»——Uv Chanse New York 2,516.83 +27.47 London 1,601.30 -17.70
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    • Article
      CURRENCIES
      18 1 USS S$ 1.7480 Yen S$ 1.3079 MS SS0.6476 Ntoacy nariwt raits Overnight 6-1/4 1/2 3-montn 6-1/2 unch
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    • Article
      COMMODITIES
      35 1 London Gold PM fix US$395.60 -US$0.15 S'pore Oct.... 154.50*/kg unch Vvsia Oct— 237.50*/kg unch KL Tin Turnover 40 tonnes +18 Spot M$l6.l8/kg -0.13 Crado pain oil Turnover 774 lots -325 Oct M$655 /tonne +1.00
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  • Article
    S'pore sets terms for Indochina investments
    415 1  -  By Lee Han Shih SINGAPORE will lift its ban on investments in Vietnam and Cambodia once the new-ly-formed Supreme National Council of Cambodia (SNCC) is represented at the United Nations, the Foreign Affairs Ministry said yesterday. The announcement comes just a week before the
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  • Article
    Date for Malaysian general election is Oct 21
    258 1 MALAYSIA'S eighth general election will be held on Oct 21 for Peninsular Malaysia, the country's Election Commission announced yesterday. For Sahah and Sarawak, where only parliamentary elections will be held, polling will be staggered over two days on Oct 20-21. Election Commission
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  • Article
    Glaxo aims to triple sales in Asia Pacific by 1995
    353 1  -  By Genevieve Cua UK-BASED pharmaceuticals giant Glaxo Holdings is pushing for sales to exceed the 1 billion (553.3 billion) mark in the Asia Pacific by 1995. This is more than triple the sales of about £282 million achieved in the
    353 words
  • Article
    Lock icon Japan's August surplus nosedives
    132 1 Reuter current account surplus plunged in August, the government announced yesterday, and economists said it could disappear in coming months. The surplus in the current account, the broadest measure of trade in goods and services, narrowed to US$942 million in August from U553.43 billion a year
    Reuter  -  132 words
  • Article
    Lock icon Budget defeat a setback for Bush
    443 1 Prospect of government shutdown looms large Reuter THE US House of Representatives threw out a controversial budget resolution early yesterday in a major setback for President George Bush, raising the prospect of a government shutdown for lack of funding. The 435-member House voted 179
    Reuter  -  443 words
  • Article
    Iraqi comment pushes up oil prices in Asia
    196 1 CRUDE OIL prices crept up in Asia yesterday on worries over the Gulf crisis. Iraqi Deputy Prime Minister Taha Yass in Ramadan had said on Thursday Iraq preferred war to surrender. UK Brent crude oil traded during Asian trading hours yesterday at
    196 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      136 1 Nikon TfwWtoWsnnMt wmoypNc Syrtam. OPINIONS *F'i No room for class A lA divisions. EX 2 jm Wu) Why it is vital to unlearn learned helplessness. EL 2 COYER Saturday night and the pro. EL 1 Aircraft Schedule ELII ComnwMies 15 Cryptic Crossword ELII Futures Options 14 Horn News 2 HK
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      Page 1 Advertisements Column 2
      13 1 LIFESTYLE Money-breathing dragon. EL 3 Serving a party with microwave dishes. EL 5
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      Page 1 Advertisements Column 3
      265 1 V >-»' Jk n 'j k SPORTS A day on the course with Aniie. EL 7 Today, one watch reigns supreme. and BA *****/477 BA. In 1972, the master watchmakers by eight hexagonal bolts. The perfect at Audemars Piguet created the first match between technical achieveprestige sports watch: the Royal
      265 words
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      Page 1 Advertisements Column 4
      31 1 mm FINANCE firm in the near term. EL 8 Global stocks heading for further fall. EL 9 •War rather than surrender, Back Pg Many Third World nations hard hit, Pg 7
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      Page 1 Advertisements Column 5
      16 1 JOBS First lady of the kiosk. EL 10 New paper chase for an EMBA. EL 10
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Chok Tong to lead an outward bound mission
        72 2 A DELEGATION headed by First Deputy Prime Minister Goh Chok Tong will be visiting Pulau Übin next Monday. The group will survey the island's facilities and natural sites for adventurous and sporting activities. Among the ministers going are National Development Minister SDhanabalan,
        72 words
      • Article
        Record time
        67 2 TOTAL TRADE of clocks and watches hit a record $820 million in the first half of the year, a rise of about 45 per cent over the same period last year, said Trade Development Board chief executive officer Yeo Seng Teck. Speaking at the International Clock and Watch
        67 words
      • Article
        An extra helping hand
        55 2 ORGANISATIONS, such as the Rotary and Lions clubs, can create scholarships or bursaries to help children of lower income families attend independent schools where fees are higher than government schools. Senior Minister of State for Education Dr Tay Eng Soon said that such schemes will complement
        55 words
    • Article
      Transpac invests $1.5m in two local companies
      177 2 TRANSPAC VENTURES, which manages more than US$lBO million in venture capital funds, has invested a total of SSI.S million in two Singapore companies. It put SSI million into FaperAid, which makes a range of ribbon cartridge and cassette systems. With the injection of
      177 words
    • Article
      PSA to build new supplies centre
      276 2  -  By Rahita Elias THE PORT of Singapore Authority (PSA) will set up a Ship Supplies Centre in March 1992 to provide better service to ships calling at the Republic, a service worth more than $500 million a year. By then, it will move the
      276 words
    • Article
      Radical proposals on Malay issue to get airing
      278 2  -  By Harish Mehta RADICAL PROPOSALS to give the Malay/Muslim community greater political and economic power in Singapore will be discussed by First Deputy Prime Minister Goh Chok Tong in a dialogue session with participants at a crucial Malay convention this weekend. The
      278 words
    • Article, Illustration
      S'pore sets up embassy in Seoul
      249 2 WITH THE setting up of an embassy in Seoul, Singapore has strengthened its diplomatic relations with South Korea. The Foreign Ministry said yesterday that Mr Raymond Wong Heng Tem, 44, is Singapore's next Ambassador to South Korea. He will reside in Seoul, unlike the
      249 words
    • Article
      Cisco sets up subsidiary to venture overseas
      204 2 CISCO has incorporated a company to provide security services here and overseas. Among the service whollyowned subsidiary Security Trading will provide are guard and escort services, says Cisco in its annual report for the financial year ended March 31. Cisco, the acronym for
      204 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      450 2 tend Brt> krM igrtw jfrnd lb bm* htM Pgrtw Hb Gyl I* 1 ***** M3A 06.10/0900 07.10/2300 rEfcTjZ ku (K10/15M L 9002N M4C 05.10/1300 06.10/0600 iwJJ S5 W S/SfiSS H9/90 M28 06.10/1530 06.10/2300 !f? B fan J 1/9 "2 J"*£ S 2 Mahkota Exp *****0 MIC 0510/1730
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    • Article
      CONTAINER SCHEDULE
      1236 2 RECEIVING OF EXPORT FCt CONTAINERS AjjjP jfl CARGO Record Bookiw/Bahnce Rdb SNp Voy No Etb/Btr Period Fran To Fran Ma Bhum 61S 06/0700 3 06/0700 06/1159 06/1400 4 06/1200 06/1459 06/1700 Mi Glory ***** 08/1400 2 05/1700 06/0659 06/0900 4 06/1200 06/1459 06/1700 As Princess 399 07/1330 3
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article, Illustration
      SES scores a first with Japanese custodial deal
      523 3  -  _By Magdalene Ng THE SINGAPORE slock exchange's custodial agreement signed yesterday with the Japan Securities Clearing Corporation (JSCC) is the first full custodian service arrangement that Japan has made with any foreign stock exchange. Under the link between the JSCC and the
      523 words
    • Article
      Lock icon SIA doubtful of meeting its forecast of 8-10pc annual growth: Chin Beng
      538 3 Reuter SINGAPORE Airlines sees the slowing world economy and rising fuel prices hitting its results, and doubts whether it will meet its April forecast of an 8 per cent to 10 per cent rise in annual profit. "Obviously
      Reuter  -  538 words
    • Article
      MISC forms unit to look into non-marine activities
      418 3  -  From Lilian Ang in KUALA LUMPUR IN A move towards a broad-er-based business strategy, Malaysian International Shipping Corporation (MISC) has formed a new unit to study how the national shipping company could diversify into non-marine activities. Mr Pancha Charam, manager of the
      418 words
    • Article
      Lock icon SPTI optimistic of higher profits
      153 3 Bernama SOUTH PACIFIC Textile Industries Bhd is optimistic of better group profits for the financial year ending April 30, 1991, following the various corrective actions taken during the past 12 months, chairman Ahmad Mustapha Hassan said. Group profits for the year to April 30, 1990,
      Bernama  -  153 words
    • Article, Illustration
      M'sian brokers urged to hold 'road shows'
      467 3  -  From William Chia in KUALA LUMPUR MALAYSIA'S stockbrokers have been asked to organise "road shows" abroad to aggressively market the country's shares to foreigners. The call was made by Malaysia's Finance Minister Datuk Paduka Daim Zainuddin when he officially opened stockbroker Rashid Hussain
      467 words
    • COMPANY BRIEFS
      • Article
        HL Finance's foreign owners
        36 3 HONG LEONG Finance declared yesterday that foreigners owned 1.35 per cent of the company as at end September. Subsidiary Singapore Finance said foreign ownership of the company amounts to 0.27 per cent.
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      • Article
        New chairman for SPKB
        23 3 THE board of directors of Sharikat Permodalan Kebangsaan Bhd has confirmed Datuk Abdullah Ahmad as chairman of the company.
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      • Article
        Setron plans tourist complex
        43 3 SETRON (Malaysia) Bhd is proposing to develop a tourist complex comprising condominiums and a hotel in Port Dickson. Setron said it had entered into a joint-venture agreement with the Negeri Sembilan State Economic Development Corporation, which owns the property.
        43 words
      • Article
        AMMB set to gain M$45m
        35 3 ARAB-MALAYSIAN Merchant Bank Bhd says its proposed flotation of Arab-Malaysia Finance Bhd will result in an extraordinary gain of about M 545.2 million for the year ending March 31, 1991.
        35 words
      • Article
        Genting to set up paper mill
        34 3 GENTING International Ltd is to set up a M 5244 million paper manufacturing mill within a radius of 80 km from Kuala Lumpur, said managing director Lim Kok.
        34 words
    • Article
      Singatronics proposes rights issue with warrants to raise $34m
      288 3 SESDAQ-listed Siagatronics Limited b planning to forest in a rmapart disc manufacturing venture in Singapore. To rake funds for this and other projects, it has proposed a reno—ctahk rights iasae of up to 565 million shares with detachable wjrrfcnts* The rights
      288 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      16 3 The Chartpoint column in our Personal Finance and Investment page is held over until next week.
      16 words
    • Advertisement
      Page 3 Advertisements Column 2
      152 3 The Directors of Mitsui Co. Ltd., Japans largest Company H I and Jacobs Island Company pic, Londons most innovative developer H have pleasure inviting you to H I A WORLD PREMIER I I EXHIBITION I I PANAMAS PACIFIC I I LONDON I THE WALL STREET ROOM, PAN PACIFIC HOTEL, SINGAPORE
      152 words
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  • INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Kirin to tie up with US juice maker
        89 4 KIRIN Brewery Co Ltd said yesterday that it would set up a joint venture with the top United States fruit juice maker Tropicana Products Inc to sell Tropicana fruit juice on the Japanese market from next year. The joint venture, to be
        89 words
      • Article
        BMW expects even better sales
        99 4 LUXURY CAR maker Bayerische Motoren Werke (BMW) said sales, deliveries and earnings this year probably would surpass the good results achieved last year. Management board chairman Eberhard von Kuenheim said in Munich on Thursday that if nothing surprising happens, BMW would "once again outdistance the
        99 words
      • Article
        NHK opens New York studio
        106 4 NHK Enterprises USA Inc, a subsidiary of NHK, the Japan Broacasting Corp, opened what it said was the world's first studio to produce high-definition television (HDTV) in New York on Thursday. The studio is located at the Kaufman Astoria Studios complex that includes computer graphics
        106 words
      • Article
        Rothmans' £108m takeover bid
        117 4 BRITISH tobacco group Rothmans International said on Thursday that it was launching a £108 million friendly takeover bid for Irish tobacco concern Carroll. Rothmans already holds a 38.7 per cent stake in Carroll, and the news saw Carroll shares soar 31 pence in London to 143
        117 words
      • Article
        B&D sells another division
        82 4 BLACK and Decker Corp said on Thursday that it will sell its True Temper Hardware business to Huffy Corp. This was the second asset sale announcement in two days by Black and Decker, which is trying to raise cash to meet debt payments. On Wednesday, Black
        82 words
      • Article
        Ingersoll-Rand sees lower profit
        92 4 INGERSOLL-RAND Co said it expects third quarter results to be below Wall Street expectations of 90 US cents to US$l per share because of a sudden decline in certain of its businesses. Ingersoll-Rand, a United States construction equipment manufacturer, earned 82 US cents per share in
        92 words
    • Article
      Lock icon E German group ties up with W German giant
      265 4 AFP JENOPTIK Carl Zeiss Jena, the opticals specialist that was the pride of East Germany, announced a cooperation accord on Thursday with West German industrial giant MAN Technologie AG. The firms will set up two jointly-owned ventures, Optosys, which will develop
      AFP  -  265 words
    • Article
      Lock icon CGE cash not for Chrysler deal, says Fiat chief
      461 4 Reuter FIAT SpA managing director Cesare Romiti said the 500 billion lire in cash the group will pick up as part of a cooperation accord with France's Compagnie Generate d'Electricite SA (CGE) will not be used to finance any eventual agreement
      Reuter  -  461 words
    • Article
      Sun Hung Kai Prop marks record year with cash bonus
      433 4 IN LINE with market expectations, Sun Hung Kai Properties' record rental income and sales revenues lifted its net profit by 22 per cent to HK52.47 billion for the year. Boosted by the profits, the company has declared a special cash
      433 words
    • Article
      GM puts low price tag on new line of compact cars
      403 4 GENERAL Motors Corp announced an "aggressive pricing and warranty" strategy on Thursday for its Saturn line of compact cars, which will be shown publicly for the first time next week. The least-expensive Saturn, a four-door model, will carry a
      403 words
    • Article, Illustration
      Lock icon Apple discusses projects with Toshiba, Sony
      260 4 AP APPLE Computer Inc is negotiating with Toshiba Corp in an effort to jointly develop lower-priced computers, company officials and industry analysts said in Tokyo on Thursday. The joint project was proposed recently by Apple, one of the leading personal computer makers in the
      AP  -  260 words
    • Article
      Lock icon Philips computer reorganisation due on Monday, says newspaper
      220 4 Reuter PHILIPS will unveil a longawaited reorganisation of its loss-making computers business on Monday, according to a Dutch newspaper. A Philips spokesman declined to comment on the report but said it was no secret that a reorganisation was in the pipeline. Under
      Reuter  -  220 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      94 4 Approx 180 lots of international designers jewellery in setting of fine quality diamonds gems, all made by competent first-class craftsmen, to be sold by Public Auction at way-below-cost prices. An Opportunity not to be Missed! Venue: Hilton International Singapore Malaysia Room, sth Floor Orchard Road, Singapore Viewing: 6 Oct 1990
      94 words
    • Advertisement
      Page 4 Advertisements Column 2
      102 4 FOR WHO, WHAT, WHERE AHD WHEH IH THE MARKET. ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in
      102 words
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  • FINANCIAL NEWS
    • Article, Illustration
      New Indonesian banking bill to deal with foreign ownership
      414 5 INDONESIAN Finance Minister JB Sumariin has confirmed that Indonesia's proposed new banking bill will deal with the question of foreign ownership of bank shares. Speaking to the Indonesian press earlier this week, he said: "The draft legislation covers all aspects of
      414 words
    • Article
      Lock icon Swiss banks to fight ruling on price-fixing
      309 5 Reuter SWISS BANKS are to challenge the government in the Federal Court over a ruling forcing them to drop a pricefixing agreement on holding customers' securities. But a statement from the Swiss Bankers' Association said banks would accept a ruling making them drop
      Reuter  -  309 words
    • Article, Illustration
      US$/DM: bearish triangle formed
      426 5 DBS Bank, in this week's technical analysis of major currencies, looks at the triangle pattern THE BEARISH triangle pattern on the daily bar chart was formed when US$/DM closed below 1.5476 on Wednesday and it quickly traded to a new historical low of 1.5300 on Thursday.
      426 words
    • Article
      Lock icon Thai central bank to ease credit squeeze
      471 5 Reuter THE Bank of Thailand will take immediate action to boost money supply to ease a credit squeeze that has led to sharply higher interest rates, said the Thai central bank's new governor Vijit Supinij. Mr Vijit, who only took over the position
      Reuter  -  471 words
    • Article
      Lock icon US firm to manage yankee bond for Turkey
      279 5 Reuter THE US securities house J P Morgan and Co Inc will lead manage Turkey's first sovereign issue of around US$2OO million of yankee bonds which is likely before the end of November, banking sources said. However, government officials said further adverse
      Reuter  -  279 words
    • SMALL CHANGE
      • Article
        Swiss banks need to merge to survive
        111 5 SWISS BANKS must merge if they are to survive the breakup of a cartel that controlled 70 per cent of the Swiss franc foreign bond market and the deregulation of the Swiss banking system, the Federal Banking Commission said. Switzerland's cartel of 25
        111 words
      • Article
        Firm to study Polish banks
        74 5 LONDON-BASED international accountancy firm Ernst Young has been appointed by the Polish government to study three of the country's commercial banks, the company said in a statement. Ernst Young is to provide an assessment of the financial and operational condition of the banks and give
        74 words
      • Article
        Long-term options
        92 5 THE American Stock Exchange will start trading long-term options with expirations of up to two years in 10 blue chip stocks on Oct 5, six of which are represented in the Dow Jones Industrial Average. The exchange said it currently trades options on the 10 stocks with a
        92 words
      • Article
        Rabobank-Agricole venture
        84 5 DUTCH cooperative bank Rabobank Nederland BA said it formed a strategic alliance with France's Caisse Natkmale de Credit Agricole. Under the arrangement, Rabobank clients will have access to services offered by Credit Agricoie's 9,300 offices in France and Credit Agricole customers will be able to make use of
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      98 5 PROPERTY With the property market seeking direction in the wake of the Gulf crisis, an evaluation of its performance past, present and future is precisely what's needed right now. In BT's 28-page property and construction supplement, industry experts tackle tough questions like: What will the next 12 months bring? Which
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  • Page 5 Miscellaneous
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  • THE REGION/WORLD
    • NOTE BOOK
      • Article
        ADB approves Indian loan of US$17.8m
        61 6 THE ASIAN Development Bank (ADB) has approved a US$l7.B million loan to a private sector project to augment electricity transmission in and around Calcutta. The ADB loan, which is without government guarantees, will go to the Calcutta Electric Supply Corp (CESQ, a private company
        61 words
      • Article
        Hanoi braces for energy crunch
        65 6 VIETNAM has adopted tough measures to face up to an energy crunch stemming from cuts in Soviet oil supplies and crude price rises caused by the Gulf crisis. Experts say the situation could deteriorate if the Gulf conflict continues and as Hanoi begins next year
        65 words
      • Article
        US withdraws nomination
        61 6 A REPUBLICAN SENATOR who questioned the nomination of Frederick Vreeland as US Ambassador to Burma said on Thursday the administration of President George Bush was withdrawing the nomination. Senator Alfonse D'Amato of New York quoted State Department officials as saying the Vreeland nomination had been withdrawn because
        61 words
      • Article
        Viet, Thai ministers to meet
        71 6 VIETNAMESE FOREIGN MINISTER Ngyuen Co Thach and his new Thai counterpart Subin Pinkayan are to discuss the current situation of the Cambodian peace process as well as bilateral cooperation. Thai Foreign Ministry Information Department director Saktip Kraireuk said Mr Thach would be making an official
        71 words
      • Article
        Belgian minister to visit Hanoi
        64 6 BELGIUM'S deputy prime minister, Philippe Moureaux, is to make an official visit to Vietnam soon, a spokesman for the Vietnamese Foreign Affairs Ministry said on Thursday. A Belgian diplomatic source said the visit was initially set to begin on Oct 13 but was postponed at
        64 words
      • Article
        Aquino warns of serious crisis
        63 6 PRESIDENT CORAZON AQUINO said yesterday the Philippines faced a serious energy problem that would force the government to pass some of the burden to consumers. "I consider the energy problem that we now face as the most serious," Mrs Aquino told a business conference in
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    • Article
      Call for tax reforms to help Thai farmers
      217 6 THE THAI government was urged to improve the farmers' lot by reforming the tax structure to encourage the agro-based industries. The Bangkok Post said that the call came from Dhanin Chearavanont, chairman of the country's largest agro-industrial conglomerate Charoen Pokphand (CP) who
      217 words
    • Article, Illustration
      Lock icon The week for living dangerously
      60 6 A military policeman controlling the flow of traffic inside an army headquarter as others man the barricade after a bomb explosion inside Fort Bonifacio in suburban Makati on Thursday put the army on red alert. The bombing coincided with the seizure of mutinous soldiers of
      AP picture  -  60 words
    • Article
      Lock icon Liberalising Laos' banking system
      422 6 New rulings passed on credit cards and foreign banks AFP AUTHORISATION to issue credit cards by the end of the year will be just another step forward in the recent rapid development of Laos' commercial banks, according to banking officials in Vientianne. At the same time,
      AFP  -  422 words
    • Article
      Banker denies Bank Duta role in market decline
      424 6 Economic factors blamed for setback A PROMINENT Indonesian banker yesterday rejected the opinion that the steady decline of the composite index of share prices in Jakarta was due to the alleged fraud at Bank Duta, one of the banks listed on the
      424 words
    • Article
      Hongkong hotel occupancy picks up again
      283 6 HONGKONG'S 30 firet-class hotels have recorded an average 78.5 per cent room occupancy in the past month, slightly better than last year but way below the level achieved in the past few years. I "September used to be a traditionally good month, but it
      283 words
    • Article, Illustration
      Lock icon Australia to expand trade with Taiwan
      353 6 AFP AUSTRALIA is looking to expand its economic links with Taiwan to acknowledge more adequately the blossoming trade between the two countries, government sources indicated on Friday. The Australian government has long been criticised by segments of business because of what is perceived to
      AFP  -  353 words
    • Article
      UN says Asia will face population explosion by 2000
      330 6 THE UNITED NATIONS last week warned that the urban population of Asia could soar to 1.15 billion by the year 2000 and called for a sweeping reversal in the flow from villages and small towns to "mega cities". The recommendation was
      330 words
    • Article
      New power plants for Java, Bali
      141 6 THE scheduled completion in 1992-93 of a natural gasfired power plant in Gresik and a coal-fired power station in Paiton, East Java, is expected to help overcome any possible shortfalls in electricity supply in Java and Bali in the coming years, the Jakarta Post,
      141 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      76 6 A MONTHLY MAGAZINE OF BOSINESS TRENDS f I Conner Peripherals in Singapore sets the pace e Palm oil: Bright future, murky present l lor worldwide operation. Trave||#r Beware: A guide to the world'e I Financial futures trading going on-line Hot spots I e Giant land sales put property market to
      76 words
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  • THE WORLD
    • Article
      Lock icon EC proposes slight cuts to farm subsidies
      453 7 AP THE European Community said on Thursday it would be willing to trim costly export subsidies for farmers but refused to embrace the sharp cuts demanded by the US. The Community's executive body unveiled its latest agriculture position in international trade talks that
      AP  -  453 words
    • Article
      Lock icon US computer firms, chip makers join forces
      304 7 NYT AFTER more than a year of contentious deliberations, US computer companies and the makers of semiconductors that power computers have resolved their differences on a major issue of trade policy. The result is expected to be continued pressure on Japan to open
      NYT  -  304 words
    • Article
      Lock icon Many Third World nations hard hit by invasion
      850 7 The Gulf crisis AP SADDAM HUSSEIN'S conquest of Kuwait has sent economic shockwaves around the globe, doubling oil prices, paralysing stock markets, undermining business confidence and leaving countries in eastern Europe and Asia in dire straits. But it has brought windfalls for
      AP  -  850 words
    • Article
      Lock icon Odds are against Iraq
      272 7 AP IRAQ could survive for a matter of weeks at most against the multinational military forces in the Gulf, the International Institute for Strategic Studies said on Thursday. "In Cold War days, Nato commanders talked in terms of days and weeks of their capacity to sustain
      AP  -  272 words
    • Article
      Lock icon Gorbachev permits part liberalisation of wholesale prices
      225 7 AFP SOVIET President Mikhail Gorbachev issued a decree on Thursday partly liberalising wholesale prices for contracts valid next year. Tass news agency said that those prices will become negotiable between companies within limits set by the government. The president said in the decree
      AFP  -  225 words
    • Article, Illustration
      Motorists sound their displeasure
      40 7 Demonstrators protesting against new US tax increases hold up signs urging motorists to honk if they oppose any increase in taxes. The protest took place on Thursday on Pennsylvania Avenue in front of the White House.
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    • WORLD WATCH
      • Article
        US investigates oil firms over price rises
        80 7 THE US JUSTICE DEPARTMENT said on Thursday it had subpoenaed records of major oil companies, refiners and marketers as part of its investigation of petrol price rises since Iraq invaded Kuwait on Aug 2. A department official said that the civil subpoenas would
        80 words
      • Article
        Taipei inflation at 9-year high
        59 7 SOARING CRUDE OIL PRICES and a domestic economic stagnation pushed Taiwan's annual inflation up to 6.5 per cent in September, the highest in nine years. Officials attributed the surge in the September consumer price index mainly to rises in transportation charges on the island, which
        59 words
      • Article
        Warsaw Pact may dissolve
        86 7 ONE OF THE SOVIET UNION'S top soldiers said on Thursday he believed the Moscow-led Warsaw Pact would probably disband as a military organisation next year. Marshal Sergei Akhromeyev, an adviser to President Mikhail Gorbachev, told the Communist Party daily Neues Deutschland that Nato should also relinquish
        86 words
      • Article
        Uphill task for Brazil president
        68 7 PRESIDENT Fernando Collor de Mello has won an impressive political victory in congressional and state polls but still faces an uphill struggle to resolve Brazil's profound social problems. Mr Collor, who until early last year was a little-known politician, was likely to have support of
        68 words
      • Article
        Extra funds for Channel project
        66 7 THE FOUR BANKS responsible for financing the English Channel tunnel have managed to find the extra £2 billion needed for financing the Anglo-French project, according to a source close to the four banks. Tlie extra funding, obtained from the 210 banks of the France-British consortium,
        66 words
      • Article
        More jobless in E Germany
        109 7 EAST GERMAN UNEMPLOYMENT rose by a quarter in September, the last month before the country's battered and inefficient economy was absorbed into a unified Germany, official statistics showed on Thursday. Meanwhile, the number of jobless in what was West Germany fell to 1.73 million from
        109 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      74 7 ;-p> W^ "THE OPTIONS" -v: ;V >* A. w"* <1 •v"- --vf 4 '7 -\>-> !&f W -I >* -f r >T--/"- V- M*. :< Jf?,.. ,-$v '.r/*\- "■:••••••;"S" -..'i „< V >"> t f 1 ■•> •••-'•>: '4- Js£i i s t "THE CHOICE" F HOTEL PHOENIX SINOArOKI Orchard
      74 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Late selling erases morning gains
      4467 8  -  By Quak Hiang Whai SHARE PRICES on the Singapore stock market closed slightly lower yesterday on news that US President George Bush's tax package had been rejected by the House of Representatives. But dealers said the market had firmed up marginally in the morning on
      4,467 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4060 9 Main Board Asia Pacific 775 +15 +2.0% Polytek 50* 109 +15 +16.0% S1A 1020 +10 +1.0% DBS Foreign 885 +10 +1.1% Spore BusF 500 452 8 +1.8% Cereboa 25* 223 +7 +3.2% Inchcape 396 +6 +1.5% OUB 394 6 +1.5% Roth Inds 50* 374 6
    4,060 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Profit-taking trims market's early gains
      3689 10 Bernama SHARE PRICES in Kuala Lumpur ended higher yesterday although gains were trimmed by late profit-taking in line with reversals suffered in other East Asian bourses, triggered by news of a lack of agreement to trim the US budget deficit. Dealers said investors' reluctance to
      Bernama  -  3,689 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      103 10 FOR WHO, WHAT, WHERE AHD WHEH CcP IH THE MARKET. ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends
      103 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Firmer yen and bond help lift market
      2265 11 Reuter TOKYO STOCKS closed higher boosted by a stronger yen and firmer bond prices, but gains were capped in late afternoon on news the US deficit reduction plan lost a key vote in Congress. Brokers said the plan is viewed in tokyo as
      Reuter  -  2,265 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      US budget defeat sends stocks tumbling
      2300 11 REJECTION by the US House of Representatives of a US$5OO billion deficit reduction plan reversed Hongkong's upward trend and share prices dropped sharply in afternoon trade yesterday. The blue-chip Hang Seng Index finished 12.1 points lower at 2,850.45. It touched a high of 2,894
      2,300 words
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  • REGIONAL STOCK MARKETS
    • Aussie shares fall in listless trade
      • Article
        AUSTRALIA
        922 12 THE REJECTION by Congress of the US budget pact tipped the Australian share market upside down yesterday as investors bailed out of leading stocks particularly those with US exposure. Brokers said the market flapped around in directionless trade lagging way behind the strength in the Nikkei for most of
        922 words
      • Article
        BANGKOK
        663 12 THAI stocks finished mixed in thin trade after mid-session selling was offset by late buying support from mutual funds, brokers said. The SET Index gained 0.99 point to end at 672.98 in 1.6 billion baht volume. Advances led declines 76 to 63. Most active were North East Products, Asia
        663 words
      • Article
        TAIPEI
        382 12 TAIWAN stocks opened higher on Tokyo's gains and the index continued to rise for the rest of the session as small investors entered the market, dealers said. The weighted index rose 145.35 points, or 5.5 per cent, to finish at 2,771.40 compared with Thursday's 2,626.05 close. Turnover rose to
        382 words
      • Article
        MANILA
        566 12 PHILIPPINE shares closed little changed to slightly lower pending the resolution of a military revolt on the southern island of Mindanao, brokers said. The Manila Stock Exchange composite index slipped further to hit a new 41-month low of 514.80 points, the lowest since it touched 512.98 on April 9,
        566 words
      • Article
        SEOUL
        787 12 SEOUL stocks surged yesterday on strong sentiment the market had bottomed while other investors cheered South Korea's hard-won establishment of diplomatic ties with the Soviet Union last Sunday, brokers said. The composite index closed at 624.13, up 21.25 points from the previous close on Saturday. The market was closed
        787 words
      • Article
        Lock icon NEW ZEALAND
        302 12 Reuter THE New Zealand share market ended the week on a bearish note as interest and volume dried up, leaving the market to the mercy of small orders. The Barclays Index fell 12.25 points to 1,464.44 on turnover of 6.19 million shares worth NZ$9.B5 millions. Falls outpaced gains
        Reuter  -  302 words
      • Article
        Untitled
        889 12 CIom Previous Oct 5 SYDNEY All Ordinaries Index 1,356.8 1,368.5 -11.7 All Industrials Index 2,017.3 2,028.8 -11.5 All Resources Index 841.8 852.9 -II.I Turnover (million) 80.59 94 -13.41 BANGKOK SET Index 672.98 671.99 +0.99 Turnover (million) NA 64.8 JAKARTA Composite Index NA NA Turnover (nearest '000) NA NA mm Composite
        889 words
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  • WORLD STOCK MARKETS
    • Late blue-chip rally gives Dow a nudge
      • Article, Illustration
        NEW YORK
        1184 13 WALL Street stocks ended mixed on Thursday in another session punctuated by buy and sell programmes. Blue chips surged sharply higher in late afternoon, but the broad market failed to keep pace. While some buying was inspired by hope that the US Budget agreement would be approved, worry
        1,184 words
      • Article, Illustration
        LONDON
        1059 13 LONDON shares opened lower after the US House of Representatives rejected a plan agreed last weekend that would have cut the US budget deficit by US$5OO billion over five years. "Any expectation of an early cut in US interest rates has now been dashed," a dealer said. "Much of
        1,059 words
      • Article
        AMSTERDAM
        261 13 DUTCH stocks were marked lower at the opening bell yesterday after the US House of Representatives rejected a proposal to cut the budget deficit on Thursday night. Share prices started 2.2 per cent lower on average, with the CBS general tendency index down two points from Thursday's close at
        261 words
      • Article
        BRUSSELS
        178 13 BELGIAN stocks opened mixed in moderate trading as some institutional investors made a cautious return to the market, traders said. They said the Belgian market appeared to be unaffected so far from the US House of Representatives' rejection of a budget deficit plan. "There is no real trend in
        178 words
      • Article
        FRANKFURT
        192 13 GERMAN share prices fell 2.5 per cent in early trading as news that plans to cut the US Budget deficit had been rejected by the House of Representatives prompted fears of a sharp fall in Wall Street stocks yesterday. Markets had hoped that a budget deficit agreement would pave
        192 words
      • Article
        PARIS
        156 13 FRENCH shares opened sharply down as the U.S. House of Representatives' defeat of President George Bush's budget deficit reduction plan hit share prices in Frankfurt and London. 'We follow in the wake of other European markets at the moment/ Said a dealer. The CAC-40 index started at 1,538.83, 13.91
        156 words
      • Article
        Lock icon TORONTO
        321 13 Reuter TORONTO stocks closed flat on Thursday after trading in a seven-point range during the session, with no news to give the market direction, dealers said. The US Congress postponed a vote on the budget plan until yesterday, they added. The composite index lost 3.55 to 3,175.95 on volume
        Reuter  -  321 words
      • Article
        ZURICH
        281 13 SWISS shares opened lower yesterday, following far eastern losses on news that the US Congress had rejected a compromise agreement on cutting the budget deficit. Dealers said they expected Wall Street to open lower on the news. The SMI Index of leading shares dropped 13.1 points to 1,398.2 after
        281 words
      • Article
        Untitled
        478 13 Oct 4 CVmc Prcvioas NEW YORK Dow Jones 2.516.83 2,489.36 +27.47 NYSE Financial 112.23 111.89 +0.34 SAP 500 312.69 311.40 +1.29 Turnover (million) 145.41 135.49 +9.92 LONOON Financial Times 30 1601.30 1619.00 -17.70 FTSE 100 2070.40 2087.00 -16.60 Turnover (million) 421.3 389.9 31.4 AMSTERDAM CBS General 170.80 172.90 1 -2.10
        478 words
  • Page 13 Advertisements
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      American dollar holds steady against yen in Tokyo trade
      1254 14 FOREX MARKET REPORTS THE US dollar closed barely changed against the yen but higher against other major currencies in Tokyo trade, as early institutional investor dollar selling against the yen for hedging was followed by late short-covering on news that the
      1,254 words
    • Article
      INTERBANK FOREX RATES
      386 14 Cwiratet Oct i USS SS MS Dm Yen SFr AS NZS USS 1.7470 2.6960 1.5330 133 65 0.5225 1.2800 1.2005 1.6273 SS 0.5724 1.5432 0.8775 0.7650 0.2991 0.7327 0.6872 0.9315 MS 0.3709 64.80 0.5686 0.4957 0.1938 0.4748 0.4453 0.6036 Dm 0.6523 1.1396 1.7586 87.18 0.3408 0.8350 0.7831
      386 words
    • Article
      MONEY MARKET
      559 14 Interbank rates SS BM Offer Overnight 6 1/4 6 1/2 1-month 6 3/8 6 1/2 2-month 6 7/16 6 9/16 3-month 6 1 tl 6 5/8 Overnight mode 6-3/8 USt BM Offer 7 days 8 3/16 8 VI6 1 month 8 1/8 8 1/4 2 months 8 1/16
      559 words
    • Article
      FINANCIAL FUTURES
      1581 14 S1MEX bmmum Open High Low Sett Est Vol Op/lnt Vol Dec 90 92.12 92J5 9L97 9104 ***** ***** 6055 Mar 91 92.23 92.25 92.05 92.13 ***** 8721 1708 Jun 91 92.09 92.13 92.00 92.02 2100 2606 332 Sep 91 91.91 91.92 91.76 91.82 510 637 I Dec 91
      1,581 words
  • Page 14 Advertisements
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  • COMMODITIES
    • Article
      Lock icon Jakarta keen to have executive seat at coffee body
      368 15 Bernama INDONESIA, the world's third largest coffee producer, plans to make a determined bid for a seat on the executive board of the International Coffee Organisation (ICO) next year following its failure to be elected this year. A spokesman of the
      Bernama  -  368 words
    • Article
      Lock icon Lead and zine prices expected to turn easier
      320 15 AFP LEAD and zinc prices will ease over the next 12 months, but a repeat of the 1974 and 1979 periods, when prices fell sharply and then remained depressed for a number of years, is not expected. This is the view expressed
      AFP  -  320 words
    • Article
      Weaker London prices dampen KL tin market
      843 15 REPORTS THE price of tin fell by 13 sen to M 516.18 per kg on the Kuala Lumpur Tin Market in line with the lower London Metal Exchange overnight. The main buyers included European as well as local traders. At the opening level
      843 words
  • Article
    PRICES
    1329 15 Rubber octs ■M(h»fciNlw) Scents/kg Noon Close Inl I RSSPrompt I55.00/156 00N 154.75/155.75N Int I RSS Nov 90 IS4.7S/155.25 154.50/155.00N Int I RSS Dec 154.25/154.75 154.00/154.SON Int 2 RSS OP I50.00/IS2.00N I50.00/152.00N Int 3 RSS OP I45.50/I47.50N I45.50/I47.50N Int 4 RSS OP 141.50/143 50N 14I.50/I43.50N Int 5 RSS OP 137.00/139
    1,329 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      9 15 Managers must manage. BT shows you how every Monday.
      9 words
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      Page 15 Advertisements Column 2
      266 15 NOTICES A "CORRIGENDUM" TO OFFICIAL NOTICE PROPOSALTO CHANGE OF SHIPS NAME With reference to our notice dated 18 September 1990, we would insert the vendors name and address as follows: "Yuyo Shifting (Singapore) Pte Ltd 18, Benoi Road Singapore 2252" Dated at Singapore this 6th day of October 1990 Signed
      266 words
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  • Article
    Lock icon We prefer war to surrender, says Iraqi minister
    412 16 The Gulf Crisis Agencies IRAQ declared on Thursday that it would "prefer war to surrender" in the Gulf crisis as US President George Bush was reported to have begun consultations with members of the US Congress on the possible use of military
    Agencies  -  412 words
  • Article, Illustration
    Key issue is to safeguard reserves: Chok Tong
    477 16  -  Parliament Reports Debate on Elected President Bill By Shoeb Kagda SAFEGUARDING Singapore's reserves and the integrity of the public service is at issue, not the specific tools needed to achieve this objective, said First Deputy Prime Minister Goh Chok Tong yesterday. In
    477 words
  • Article
    What key posts should the elected president oversee?
    429 16  -  By Anna Teo SHOULD key appointments in statutory boards like the HDB, JTC, PSA, PUB and Singapore Telecom be overseen by the elected president? Two MPs, Dr Ow Chin Hock (Leng Kee) and Mr Leong Horn Kee (Thomson), think not. Unlike major
    429 words
  • Article
    HK to build Lantau bridge by public tender
    371 16  -  By Catherine Ong in Hongkong THE Hongkong government has dropped a proposal to seek private sector binding for the construction of a HK$7 billion bridge linking the planned new airport to the territory. Chief Secretary Sir David Ford said yesterday that the
    371 words
  • Article, Illustration
    Compaq and NEC expand R&D units here
    449 16  -  By Claire Leow TWO LEADING electronics firms have increased their commitment to Singapore, incorporating value-added research and development (R&D) functions here. Compaq Computer Corporation, a Fortune 500 company which established a presence here only three years ago, will invest another $150 million in
    449 words
  • Article, Illustration
    Lock icon Birds of a feather once again
    44 16 German Chancellor Helmut Kohl delivering his opening address to the Assembly of United German Parliaments in Berlin's Reichstag on Thursday. In the background is the German eagle, the German flag is on the left. AP picture AP picture
    AP picture  -  44 words
  • Article
    Seats to PM Lee's talk at HK press club snapped up
    334 16 ALL SEATS for Prime Minister Lee Kuan Yew's talk at the Foreign Correspondents* Club (FCC) ia Hongkong later this month were snapped up minutes after bookings opened yesterday. By the day's end, there were 200 names on the waiting
    334 words
  • Article
    Lock icon US jobless rate rises to 5.7pc
    117 16 Reuter THE US unemployment rate rose in September to 5.7 per cent from 5.6 per cent in August to reach its highest level in almost two and a half years, the Labour Department said yesterday. The report, the first official reading of US economic
    Reuter  -  117 words
  • Article
    Asean airlines seek talks with EC
    316 16 Impact of Fortress Europe main cause for concern ASEAN AIRLINES are seeking talks with the European Community (EC) as soon as possible to discuss the impact of its common aviation policies on non-EC carriers, said the president of the international air transport association Moehamad
    316 words
  • Page 16 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon All in the name of Saturday night
      1114 17  -  Paul Ramani finds out what professionals do on THE night of the week Paul Ramani SATURDAY NIGHT. People have funny notions about Saturday night. Like, a date isn't a real date unless it's on a Saturday night. Like, people get depressed if they
      Punch  -  1,114 words
    • STRAWS IN THE WIND
      • Article
        Wallet trauma
        57 17 TALK ABOUT getting a second opinion. A BT reader was told by a government hospital doctor that he needed to be warded, and that it would cost him about $4000. Upon his family's advice, he consulted another government hospital There, he was prescribed some medication and told that
        57 words
      • Article
        Adding insult
        37 17 A TOURIST was hit by a Mercedes Benz along Hongkong's narrow Peak Road and landed in hospital. The next day, the driver of the car called him up to demand HK525.000 to pay-Jris repair bilL
        37 words
      • Article
        Tricks of the trade
        53 17 IF YOU THOUGHT the line outside Hard Rock Cafe was there because the pfaoe was crowded, think again. One of the waitresses toid us she was instructed to work slowly, so as to keep a crowd outside. So now we know why some places seem to
        53 words
      • Article
        Green glitter
        29 17 AN American Express ~gp4d card member received aa application form, presunQbly offering him something erpn more attractive than the card he already has a green card. ZZZ
        29 words
    • OPINIONS
      • Article
        Why it is vital to unlearn learned helplessness
        1040 18  -  Tan Tarn How argues that is is necessary to avoid the trap of the blame-The-System mentality Tan Tarn How Tan Tarn How is a Straits Times correspondent. SURVEY after survey here and in many other countries have shown beyond any doubt this
        1,040 words
      • Article, Illustration
        No room for class divisions
        929 18  -  Schutz Lee says the blurring of racial lines in Singapore is no consolation if deepening class differences take their place Schutz Lee Schutz Lee is a BT reporter. THE Sunday Times of Sep 23 carried a front page report which should bring cheer to many
        929 words
      • Article, Illustration
        End of an artificial barrier
        716 18  -  Willy Brandt on German unification Willy Brandt Willy Brandt was West German Chancellor between 1969 and 1974. He is honorary chairman of the German Social Democratic Party. OCTOBER 3 the day of the ending of the division of Germany was a date of great relief,
        716 words
      • Article
        Be realistic with cellular phone prices
        88 18  -  LETTERS TO THE EDITOR D W Distant IT IS difficult to find an advertisement for cellular phone which does not offer a free cordless phone or camera or something else, all of which a cellular phone buyer probably already owns. Can the cellular phone
        88 words
      • Article
        Commentator thinks football audience was kayu
        140 18  -  Henry Pang I WOULD like to comment on the TV coverage of the Asian Games' opening day soccer match. With five minutes to go before full time and with South Korea leading by seven goals to nil, the commentator must surely take the cake
        140 words
      • Article
        SBC Text welcomes feedback from the public
        156 18  -  Jeanne Cheng (Mrs) Manager (Press Relations Publicity) Singapore Broadcasting Corporation WE REFER to the letter from Mr D W Distant on SBCText (BT Sep 29). Mr Distant's efforts in contacting SBC to give his comments are very much appreciated. We value public feedback
        156 words
    • LIFESTYLE 1
      • Article, Illustration
        This dragon breathes money
        718 19  -  Samuel Ee discovers condo living for the rich and mythical Samuel Ee ISAW AN old friend at the Haw Par Villa last week. She looked different. Her make-up wasn't quite as faded as before and I think maybe she dyed her hair. But I recognised her
        718 words
      • Article, Illustration
        A-sailing we shall not go
        719 19  -  Cassandra How meets the descendant of a famous admiral Cassandra How LORD Peter John Horatio Nelson has a lot in common with his famous ancestor, Admiral Nelson of Trafalgar. They both get seasick easily. Which may account for why the ninth Earl Nelson of Trafalgar
        719 words
      • Article
        Swiss discipline and charm on show
        531 19  -  P Y Van reviews the performance of the Zurich Tonhalle Orchestra P Y Van THE RECENTLY refurbished Victoria Concert Hall played host this week to an elegant Zurich Tonhalle Orchestra that impressed with its discipline and articulation. On Monday night, chief conductor Hiroshi Wakasugi
        531 words
      • Article, Illustration
        Sweet soul music for the '90s
        597 19  -  CO REVIEW By Ringo Liew WAS NOT WAS: Are You Okay? In a scenario that's as strange as some of their songs, two white suburban-bred brothers from Detroit have found themselves rejuvenating funk as well as rhythm and blues. With Motown fiddling while the
        597 words
      • Article, Illustration
        Lock icon Serving a party with microwave dishes
        1057 21  -  You can cook for 20 as well two in a microwave oven: it just takes a bit longer, says Barbara Kafka Barbara Kafka NYT Even those who cook fairly often in the microwave oven retain the notion that while it is terrific for a
        NYT  -  1,057 words
      • Article, Illustration
        Creating an impression
        585 21  -  BRIDGE By Tan Boon Tiong AN INTERESTING hand from the 30th Far Eat Bridge Federation Championships, played in Shanghai in 1987 concludes the topic on deception in defence. A couple of innocently looking discards persuaded the declarer to go wrong This is hand no. 4 of the
        585 words
      • Article
        Patience, patience, patience
        751 21  -  WINE By N K Yong ONE OF MY favourite comments during wine tastings is "Let it breathe, wait a while!" It has become a standard joke amongst my wine-loving friends. As it has turned out, on many an occasion it has been sound advice. The basis for
        751 words
    • EPICURE
      • Article, Illustration
        Stealing the show from Harry
        735 20  -  Quek Swee Peng on Pine Court's prelude to the hairy crab season Quek Swee Peng ITS THAT TIME of the year when the ladies are tempted to leave their fingers unadorned and the men are philosophical about prolonged, messy meals. This is the time of
        735 words
    • PURSUITS
      • Article, Illustration
        The buzz and fuss of an old, old port
        328 22 THE SCENE then was still a veritable hive of activity, though not quite the busy port one might have expected. This was back in the mid- 19th century where serried ranks of European and American ships with their flags forming splashes
        328 words
      • Article, Illustration
        Forty-eight hours to oblivion
        391 22  -  Samuel Ee discovers a mathematical law on sequels Samuel Ee LIKE MOST parents and their kids, the trouble with sequels is that they keep getting compared with their predecessors. There's nothing very wrong with it except that, more often than not, they don't measure up to
        391 words
    • SPORTS
      • Article, Illustration
        A day with Arnie
        956 23  -  With the South China Sea in the background and Arnold Palmer as a companion, what more could Cassandra How ask for on a hot, sunny afternoon? Cassandra How THE master was here, and I was this insecure apprentice with no handicap to speak of, right beside
        956 words
      • Article
        Lock icon Zimbabwe's McNulty wants to be British
        303 23 Reuter ZIMBABWE'S Mark McNulty is the best golfer to emerge from Southern Africa since Gary Player. Now, at the height of his powers, he wants to be British. The consistent McNulty is currently engaged in a battle with Britain's lan Woosnam at the top
        Reuter  -  303 words
      • SIDE LINES
        • Article
          Manchester United is through to round two
          148 23 SCOT Brian McOair sent Manchester United through to the second round of the European Cup Winnen' Cup at Pea, Hungary on Wednesday with a 77th minute strike against Pecsi Munkas. United, basking in the sunshine and a fir* leg 2-0 advantage, were never
          148 words
        • Article
          Jansher beats Finn
          149 23 WORLD squash champion Jansher Khan raced into the second round of the Stretch Challenge in Vancouver on Wednesday and then explained why he thinks his sponsors ought to give him a better deaL The 21-year-old Pakistani's 15-6, 15-3, 15-10 win over the Finnish number three Marfco Pulli
          149 words
        • Article
          From the horse's mouth
          114 23 BRITISH Jockey Club scientists have identified theQNg used to nobble Bravefoot and Norwich at the St Leper meeting in Doncaster last month. It is Acetylpromazine (ACP), a drug more widely employed as a tranquiliser and the first time it has been detected in racehorses in Britain.
          114 words
        • Article
          Lammerts ahead in cycle race
          57 23 JOHAN LAMMERTS of the Netherlands edged Graeme Miller of New Zealand to win Wednesday's first stage of cycling's Tour of Ireland, while Greg LeMood dropped out with a stomach infection. Lammerts, who turned 30 on Tuesday, finished the 135.5-mile stage a second ahead of Miller
          57 words
      • Article
        Lock icon Lendl may miss French Open again next year
        471 23 Agencies IVAN LENDL may bypass the French Open again next year in order to concentrate on winning Wimbledon, the only Grand Slam tennis title still to elude him. Lendl told reporters on Wednesday he would decide on the last Sunday of the
        Agencies  -  471 words
      • Article
        Lock icon Davis Cup: US yet to pick surface
        199 23 AFP THE United States Tennis Association has put off until next Tuesday its decision as to which surface it will use for the Davis Cup final against Australia next month. The USTA was to have made the decision by an Oct 1 deadline
        AFP  -  199 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Lock icon Sterling likely to remain firm in the near future
        697 24  -  Alan Budd assesses the prospects for sterling as it prepares to join the ERM Alan Budd TWO questions enlivened trading in sterling markets over the past month. Would sterling's entry into the Exchange Rate Mechanism (ERM) of the European Monetary System
        Chart by Tele Trac  -  697 words
      • Article, Illustration
        Lock icon Analysts expect another dunking for junk bonds
        594 24  -  An economic slowdown is likely to force more highly leveraged US firms to default, reports Diane Longa Diane Longa Reuter Defaults by junk bond issuers are expected to snowball in the fourth quarter as a recession bites into US corporate profits, analysts said.
        Reuter  -  594 words
      • Article, Illustration
        Lock icon British funds return to Tokyo stocks
        700 24 Reuter UK FUND managers are beginning to return to the Tokyo stock market, where recent sharp falls make prices attractive for good long-term investment. "Purchases are cautious and small, but this indicates UK fund managers believe Japanese stocks may have touched bottom," said Noriyasu
        Reuter  -  700 words
      • Article
        Global stocks heading for further fall, says Fuller
        768 25  -  Where is London chartist David Fuller putting his money in the wake of the Gulf crisis and a looming world recession? Not in stocks or US dollar but in Japanese yen for the next six months. Quak Hiang Whai reports. Quak Hiang
        768 words
      • Article
        Warrants: premiums and gearing
        621 25 Prlcss (as at 4.10.90) Conversion tarms SSSmSt r>^l Amount Optional" Company leeued Wrt» Shaw Lnstk Lnctkl 7 Qaaring [m units) Conv Exsr Cash Cm),* Ln stk* Tjr ratio prfoo vahjs I 9 CAC Wl 37.5 0.985 1480 1.00 3.09 17 3 53 26.4.93 30 Causeway Inv
        621 words
      • Article
        Lock icon Thai stock exchange reins in the wheelerdealers
        351 25 Reuters SHORT-TERM specu- 1 lators and tricksters are being rooted out of Bangkok's fledgling bourse to give it a fighting chance against the undertow of sinking markets in New York, London and Tokyo, the exchange's vice-president says. The discreet moves come as the
        Reuters  -  351 words
      • Article, Illustration
        Lock icon Gold in a state of flux over Mideast crisis
        405 25  -  By Shoeb Kagda THESE DAYS, it takes a brave man to speculate in the gold futures market. The Iraqi invasion of Kuwait on Aug 2 and the subsequent turmoil in the world's financial markets have made it difficult to make predictions
        Source: DBS Bank  -  405 words
      • DON'T QUOTE ME!
        • Article
          Wearnes, Qume and the Taiwan connection
          217 25 AT LAST, the most intriguing part of the Wearnes/Qume mystery is beginning to unravel. Eariy this week we beard from America that Wearne Brothers and some partners had aborted an US$B6 million takeover bid for Qume, a computer peripheral maker. The reason given was
          217 words
        • Article
          The worst is yet to come
          40 25 HERE are some immortal words from investment guru David Fuller. Broker to customer "Market is both worse and better today. It is worse than yesterday, and better than tomorrow." (See story on this page)
          40 words
        • Article
          Knit and bear it
          87 25 THE downtrend in the stock market is not without its benefits. Just look at the lady in charge of handing out 4 application forms for a new issue at her stand in Raffles Place. Everyday, she brings with her two needles and a bag of' wool
          87 words
        • Article
          Read her hips
          61 25 SPEAKING of slow markets, apparently the brokers in Exchange Square in Hongkong have found a better way to pass the time than knitting they pore over magazines and pictures of the well-endowed film star Amy Yip. As one of the brokers said, Ms Yip's statistics are decidedly
          61 words
    • JOBS
      • Article, Illustration
        Caltex's first lady of the kiosk
        997 26  -  Schutz Lee goes down to the neighbourhood service station to meet a lady from Boston in an interesting job Schutz Lee Mention petrol kiosk owners and one image springs to my mind: that of middle-aged, Chinese-speaking men who shuffle dice across mahjong tables or
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      • Article, Illustration
        EXECUTIVE MOVES
        295 26 Henry Lee has been appointed marketing director at Caldbeck, Macgregor (S) Pte Ltd. He brings to Caldbecks 22 years of experience in the marketing and sales of wines and spirits in Singapore. He will head the marketing sales departments at Caldbecks, with additional brand management responsibilities for Dimple
        295 words
      • Article
        New paper chase — for an EMBA
        684 26 New paper chase for an EMBA THE LATEST buzzword is EMBA and executives are returning to school to get management degrees. The Australian Financial Review reports that Executive MBAs are the latest growth stock in one market where the US still has a clear international advantage management education and a
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    • THE TRAVEL PAGE
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        692 27 at, n*t m ragm etp QF81 2010 KL838 2115 SQ24 2200 Mpp GA52S 1450 Baaiar Sari BJ421 1105 Bmm 8*422 1205 B>429 2030 B1430 2125 ■■Mil ill Qf62 1135 C1664 0750 CX713 1455 SK973 1955 QF71 2110 CI663 2240 SK972 2135 Mtag CA978 0930 CA957 1730
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      • Article, Illustration
        Enjoy yourself at the Wies'n
        531 27 LETTER FROM MUNICH Mm jwS&r Mw s&y Mm At the end of September when summer in Munich is at its best, the die-hard Munich grumbler has a heavy decision to make: should he stick to his principles this time, that every so often wild horses
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      • Article
        MONEY CHANGER RATES
        152 27 As at 3pm yesterday: Local dollars to oat unit of imeiga currency Currencies Bid Offer Australian dollar I.4S2 1.472 Canadian dollar 1.508 I.S28 NZ dollar 1.068 1.118 Sterling pound 3.330 3.350 US dollar 1.7460 1.7560 Local dollars to 100 —Its of foreign fumtq Austrian schilling 15.90 16.90
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      • Article
        WORLD TRADE EXHIBITIONS
        88 27 Duration Title Venue Organiser Td Duration Title Venue Organiaer Td Oct 1-12 Singapore Business Vancouver, Singapore *****87 Oct 12-16 Tokyo Pack "90 Harumi, International PO Bat 193 Development Montreal, Manufacturers' Tokyo Information Japan Mission to Canada Calgary A Association Centre Toronto Oct 14-IS Health Care Saudi Arabia
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    • TIME OFF
      • Article
        THEATRE
        223 28 The Epson Concerts Featuring guest conductor Naohiro Totsuka and Kiyoshi Shomura, guitarist. Victoria Concert Hall. Oct 12 13. 8.15pm The Temasek Ensemble The Temasek Ensemble, comprising nineteen young and talented Singapore string players led by Pavel Prantl, will put their bows together to present an evening of music from
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      • Article, Illustration
        EXHIBITIONS
        271 28  -  Compiled by K Jayanti SQ2I: A Visual Arts Exhibition SQ2I is a group of eight Britons who are working as art teachers in various institutions in Singapore, and have a keen interest in the Visual and Dramatic Arts. Their work covers a diverse range, both 2D and 3D, as
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    • Article, Illustration
      CINEMA
      628 28 Asstbsr 41 Hssrs. Eddie Murphy and Nick Nolte team up a second time around as the cop and con who enter a marriage of convenience. More action, cute lines and bad language. (Review on EL6.) Capitol: 11; 1.30; 4; 6.30; 9.15. Changi 1; 11; 1.30; 4; 7; 9.15. Savoy
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  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      257 17 a a s Do you have a straw ura/mre with us? Send it to: The Pfestyfc Editor, Business Tprgg, 390 Kim Seng Rood, Singapore 0923. A little sus&ase awaits you if we use •tnr iUtifcr j» The movement of a watch is dust, dirt and water. It provides Rolex Oysters
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  • Page 18 Advertisements
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      Page 18 Advertisements Column 1
      24 18 •BT welcomes letters from you. Address them to: The Editor, Business Times, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers.
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  • Page 18 Miscellaneous
    • Miscellaneous
      Page 18 Miscellaneous Column 1
      43 18 POONESBURY BY GARRY TRUDEAU BUT THEN I THOUGHT, WHOA, tp HOU>MVHORSES! IFMIKE- C 7 *»«l BOOPSJB, Jf^ 7 to* o "te MORAIS THAN tfTSTAKE **I£®£E ANYONE I KNOW -IF HE'S IN- RJGHT? A WALK NOBOCH I VOLVBPMIITH THEPKXJECT, THEN IT MUSTBE OKAY, RIGHT?
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  • Page 20 Advertisements
    • Advertisement
      Page 20 Advertisements Column 1
      222 20 WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE Some like it hot fc 4 S HHH| ~T r#** r Spicv Szechuan dishes served at lunch and dinner dailv in the tool, inviting atmosphere of Szechuan Court. Resenation, :130 8310 or *****85ext ,*****/6.
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    • Advertisement
      Page 20 Advertisements Column 2
      332 20 W nuifng&s 1 yj J TOO LATE FOR BREAKFAST? TOO EARLY FOR LUNCH? rW CAUFORNIAN 1 BUFFET J BRUNCH DELIGHTFUL HOT AND COLD DISHES. A JAZZ r m\ BAND TO PUT YOU IN A MERRY MORNING "I/ MOOD. EVEN A LEGO PLAYGROUND 1- NEXT DOOR FOR THE SMALL ONES. 1
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    • Advertisement
      Page 20 Advertisements Column 3
      291 20 weeken^^3^s\ Celebrate Singapore's2sthßirthday with an unbeatable 25% Discount on all a-la-carte dishes at the Seafood-Theatre Restaurant. J X Feast on a dazzling selection of Cantonese-Thai delicacies, from Spicy Seafood Combination to Braised Beef f Tendon, all prepared to perfection with the choicest ingredients. > Offer Valid: For Lunch Only On
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    • Advertisement
      Page 20 Advertisements Column 4
      272 20 PE^rmed^!l^^T| Amidst Impertal splendour, our chefs j fMm*. stage their highly-acclaimed performance f£P tegefXlary Be< i*ng cuisine to the satis- I faction of demanding diners. To guarantee your place amongst the discerning, make V 333 Orchaid Road. Singapore 0923. T«l *****11 -j' you *ve been waiting for is buck at
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  • Page 21 Advertisements
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      Page 21 Advertisements Column 1
      355 21 AMD ENTERTAIN American Classics. I > Only At The Hubertus Grill. J! AMERICAN MEAT PROMOTION II 29SEPTEMBER TO 1» OCTOBER IWO DINNER 7PM TO MJOPM FEATURING AN A l> CARTE MENU ALSO. STERUNC SET DINNER fOR *****.. V TOR RESERVATIONS. PLEASE II CAIJ.TH 1222 EXT l.ve II Hfe AU. PRICES
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    • Advertisement
      Page 21 Advertisements Column 2
      15 21 26 fl. oz. Produce of APPELLATION CONTROLfiE 75 G! Mis en botileille par Louis LATOUR,
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    • Advertisement
      Page 21 Advertisements Column 3
      117 21 r and KV/11%/m Karaoke Lounges FINESr RUSSIAN ANO CONTINENTAL CUISINE Authentic Russian Cuisine Amidst A View Of The Singapore Harbour Executive Set Lunch/ Set Dinner 3 A la carte Restaurant Hours Lunch Karaoke Hours Mondays to Saturdays Daily: 1130 am to 130pm 7.00pm to 100 am r Dinner Mondays to
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  • Page 22 Advertisements
    • Advertisement
      Page 22 Advertisements Column 1
      61 22 PmMRLY, rrs got to be Gordon's ■EBfcjf TW 4 n >oy quu« uXrw Srl'Jo io*oo» t«si »»o 1 T C0«00« V tl» oisTiut«S I 01 STILLED IN LONDON. X t s^jSfefty»&# W"-- w{ x s* _Xv --H^H ypfj IN £n<JLANO MARCA MteirrßAOA |k r —I y «njNi 1111 I. 1
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  • Page 23 Miscellaneous
    • Miscellaneous
      Page 23 Miscellaneous Column 1
      32 23 Golf Rules section I: ;p£Fmma&'.tm- CM WW?-. a m is pe-m&p -ro have- *Mo/Pif if ir leaves 115 RaSrflCN AMP -fo KE5t IN ANY OTHEK PIACE O iVi '/i# £fV m mm
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  • Page 24 Advertisements
    • Advertisement
      Page 24 Advertisements Column 1
      240 24 OF SINGAPORE SINGAPORE GOVERNMENT OFFERING OF TAXABLE BOOK-ENTRY S BONDS TO THE PUBLIC AMOUNT OFFERED SGD4(K)MIO ISSUE CODE N*****1F ISSUE DATE 18 OCTOBER 1990 MATURITY DATE 15 OCTOBER 1992 INTEREST RATE TO BE DETERMINED BASED ON THE AVERAGE YIELD OF SUCCESSFUL APPLICATIONS 111 PRICE TO BE DETERMINED AT THE AUCTION
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  • Page 25 Advertisements
    • Advertisement
      Page 25 Advertisements Column 1
      44 25 Whatever the 21st century holds, have the assurance of financial security and peace of mind. M At Great Eastern Life, we're committed to taking M care of you for life. m Great Eastern Life iter- We take care of you for life '*k/ Sr
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    • Advertisement
      Page 25 Advertisements Column 2
      192 25 Managers must manage. BT shows you how every Monday. V r ft V■ I I LET US HELP TURN YOUR IDEAS INTO ASSETS II n a business, it takes ideas to move you For years, Hong Leong and Singapore I ahead. At Hong Leong and Singapore Finance have worked with
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  • Page 26 Advertisements
    • Advertisement
      Page 26 Advertisements Column 1
      410 26 BUSINESS TIMES TELEPHONE: 730-5937/5902/5942 FAX: 734-4982 An established company in petroleum related business is |lv looking forSALES MANAGER/EXECUTIVES ■■MHHHi (2 positions) ■■■MMHIi Duties: Marketing of products to existing customers snd develop new markets. Requirements: University education preferred Maturity, integrity and good communication skill Initiative, good personality and results oriented 1-3
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    • Advertisement
      Page 26 Advertisements Column 2
      212 26 DHL IN THE NEWS Advertisement DHL EXPANDS INTO INDOCHINA With rich natural nationally, DHL has set up offices service lor our outgoing docuresources and abundant supply in Cambodia, Laos, Vietnam merits since we started business of labour, Indochina has been and Myanmar. in Vietnam said the Managing seen by foreign
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  • Page 27 Advertisements
  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      174 27 28 Stop being an outsider (S) 6 Face the wall (7) VFCTFBDAY'3 CAIIITIAN 29 Easily upset when event is 7 One on the look-out for 3 MlLUiiwn repeatedly restaged (9) more green (9) m l 8 Exercise in order to be- I 5| w l£l*l3lf 30 Deceitful person finds one
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      202 27 Singapore Report (Thur) Max temp. 31.4 assoc humidity 66% min temp. 25.(Tc assoc humidity 93% hrs of sunshine. 4.80 rainfall in mm Nil rainfall this mth 1.6 rainy days this mth. 1 World Forecast Asia-Pacific Hi/Lo* Cond. Auckland 16/10 Showers Bangkok 26/23 Showers Beijing 24/13 Sunny Brunei 32/24 Showers Hongkong
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      27 27 we TbG>eT H e£ caluug rr ffcp up* fcjr wsrs LOORkinG TITL£ P>LOnG fthlD AH) fT'S I I If I C EVEMNO aTAMOAAO CO. LTD.. IM2-ISM MM
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  • Page 28 Miscellaneous
    • Miscellaneous
      Page 28 Miscellaneous Column 1
      1499 28 TODAY'S TV ■iff l(X Renowned Swedish director g 5 12 15 T? JH Ingmar Ber^man s life and ,B3 '*Gs|l IMr SS Sar k. I*s I a a a t mjjjt jjl personal testaments, they are y I 440 Dr Fad. the P"^ 1101 small /ULCjI 4.J5 Aaar Prayer CaM.
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      519 28 MOVIES ON TV Jagg«l Uf*. M*** S.SOpm, overly-helpful Florence TY2 Nightingale unintentionally The lesson to be learned here f UmCT CO "y_.* n &g' is that if you are a lawyer S*?" 1 who falls in love with a dient charges. Feeling accused of murdering his some sleuthing hemK wife,
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