The Business Times, 13 October 1990
1990-10-13
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The Business Times
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Title Section11 1990-10-13 1 Business Times MCI (P) 170/12/89 Weekend Edition, October 13-14 1990 15*11 words
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NEWS & MARKETS SUMMARY
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45 1990-10-13 1 A SURGE in the value of imports due to robust domestic demand and higher oil prices will cut Japan's trade surplus for September to about US$5.5O billion in September against US$7.l9 billion in the same period a year earlier.45 words
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Article44 1990-10-13 1 THE New York stock market gained ground yesterday morning. The Dow Jones average of 30 industrials rose 11.88 in tte first half hour, but the gain had shrunk to 4.70 points at 2,369.80 by 10.30 am, one hour into the session. AP44 words
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Article29 1990-10-13 1 LONDON share prices were mixed at midday yesterday. At 1115 GMT, the Financial Times-Stock Exchange 100share index fell 0.7 point, or 0.03 per cent, to 2,101.5. AP29 words
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Article31 1990-10-13 1 A HIGH-LEVEL committee, headed by Economic Development Board chairman Philip Yeo, has been formed to draw up a blue-print to boost creative services business in Singapore P«t* 231 words
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Article36 1990-10-13 1 FIRST Capital Corp has proposed to enter into agreements to distribute building material, industrial and consumer goods and other products manufactured by companies under the wings oif Hong Leong Co (Malaysia) Page 336 words
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Article27 1990-10-13 1 JAPAN'S Ministry of Finance has started an investigation of Sumitomo Bank, the leading commercial bank which has been hit by a scandal. Page 527 words
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Article24 1990-10-13 1 US Treasury Secretary Nicholas Brady is asking Congress for an additional US$4O billion for the savings and loan bailout P»fe 524 words
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Article, Illustration30 1990-10-13 1 Friday Change BT-MGA 544.31 +6.17 Kuala Lumpur 471.22 +2.14 HonSiong .^....2,915.26 +30.85 TSJStZ 22,390.16 -***** Sydney 1,326.1 -16.1 Hmnday Change N«w York 2,365.10 -42 82 London 2,102.2 -19.630 words
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Article16 1990-10-13 1 us$ .SSI.7270 Yen MS NlMMy Market rates Overnight 6-3/8 3-montn 6-1/2 SS1.3346 SS0.6402 3/8 unch16 words
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Article33 1990-10-13 1 UadMMd PM fix US$388.25 US$0.25 154.75*/kg -0.75 Nf sia Nov 238.50Vkg unch KL Tin Turnover....... 25 tonnes -14 Spot M$16.26/kg +0.21 Gnrfi palm oil Turnover 876 lots -24 Oct M$670 /tonne -2.0033 words
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500 1990-10-13 1 Conrad Raj - By Conrad Raj THE Stock Exchange of Singapore is to restrict the use of force majeure clauses in share underwriting and placement agreements so that they can only be applied under specific conditions. Sources said the Exchange would soon come up with rules500 words
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283 1990-10-13 1 The Gulf Crisis Agencies THE SOVIET UNION on Thursday called for a high-level meeting of the UN Security Council's moribund Military Staff Committee to discuss the Gulf crisis. The Soviet Union said the meeting should be attended by the military chiefs of staff of theAgencies - 283 words
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Article143 1990-10-13 1 Reuter US PRODUCER prices rose 1.6 per cent in September, reflecting skyrocketing oil prices since the Aug 2 Iraqi invasion of Kuwait, the Labour Department said yesterday. The September rise in the Producer Price Index, which measures the cost of goods at all stages ofReuter - 143 words
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Article, Illustration353 1990-10-13 1 Lilian Ang - By Lilian Ang THE PROJECT to pipe natural gas from Trengganu to fire Singapore's power stations has entered the home stretch. Petronas, the Malaysian national oil company, has called for tenders for the Jo-hor-Singapore link of the US$75O million gas project which may eventuallySource: Port of Singapore Authority - 353 words
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448 1990-10-13 1 Abdul Hadhi - Abdul Hadhi THE finance-based Lippo Group of Indonesia will list its property investment and development subsidiary on the Jakarta Stock Exchange early next month as part of its overall plans to become a top-flight regional company in the near future.448 words
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Page 1 Advertisements
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Advertisement116 1990-10-13 1 Nikon TlwWbrtd'snfiMt PlWogwpNc Syalam. COVER In the land Baßres^BW of 1,000 pj^MpgM bicycles. ysHfIBESSI FT 1 HMBBB Aver aft Schedule ELII Commodities Crypbc Crossword till Futures Options 14 Hone News 2 HK Tokyo Stocks 11 Interbank Forei Rates 14 KLSE 1° Money Changer Rates till Money Market 1} Regional News116 words
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Advertisement21 1990-10-13 1 OPINIONS What price bilingualism? EL 2 Protecting our wildlife. EL 2 US to tap Soviet knowledge of Iraqi military, Pg 721 words
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Advertisement80 1990-10-13 1 From soil 1 sampler to sculptor. Hv KHf I 11: Ifc a liii^l |V^ nHra- -< >* ®|g«v v:^SVftla Bfct IKI 6616|^6^^J fElt faoi I' E&wi $&IP^^B| 1 I ijdH VHHI INDIVIDUALITY, precious metals, classic styling and exquisite craftsmanship are embodied IN ONE OF THE WORLD'S MOST DESIRED WATCHES. THE80 words
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Advertisement13 1990-10-13 1 (LIFESTYLE Queen Elizabeth wears his dresses. EL 6 The travelling guardsman. EL 613 words
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Advertisement19 1990-10-13 1 Nikon X I ThaWbrtd'sPlnMt Photographic FINANCE End times for many bulls. EL 8 Cs: Outlook still bearish. EL 919 words
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Advertisement8 1990-10-13 1 JOBS The what V in-it-for-me syndrome. EL 108 words
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HOME NEWS
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NEWS ROUNDUP
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Article76 1990-10-13 2 ENVIRONMENT MINISTER Dr Ahmad Mattar will leave for Bangkok tomorrow to attend the ministerial-level Conference on Environment and Development in Asia and the Pacific The main objective of the conference is to formulate a regional strategy towards promoting environmentally sound and sustainable development in the Asia-Pacific76 words
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Article76 1990-10-13 2 A 24-MEMBER DELEGATION on a study mission to the US and Japan will closely scrutinise the investment, design and construction of intelligent buildings in the two countries. Organised by the Construction Industry Development Board (CIDB) and the Real Estate Developers' Association of Singapore (Redas), the 13-day mission76 words
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Article81 1990-10-13 2 THE MINISTER for Communications and Information and Second Minister for Defence (Policy), Dr Yeo Ning Hong, yesterday visited the Five Powers Defence Arrangements (FPDA) land exercise Suman Warrior in Kota Bahru. About 350 army personnel from the five FPDA countries are taking part in the81 words
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232 1990-10-13 2 THE MINISTRY of Foreign Affairs has finally permitted Shell in Singapore to release a consignment of refined oil products to Kuwait Petroleum International. This was disclosed by a Shell spokesman yesterday. It is understood that the oil products which had been held up232 words
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Article, Illustration234 1990-10-13 2 Claire Leow - By Claire Leow A HIGH-LEVEL committee has been formed to draw up a blue-print to boost creative services business in Singapore. It will direct the efforts of the Creative Services Strategic Business Unit (SBU) set up by the Economic Development Board earlier this year234 words
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160 1990-10-13 2 AS OIL companies continue to battle it out on the retail front, wholesale petrol prices are easing on international markets, a trend which, if sustained, will see pump prices moving downwards. British Petroleum (BP) yesterday became the first of the six oil companies160 words
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229 1990-10-13 2 Elaine Koh - By Elaine Koh THE SALE of sites by the government is helping to give shape to the new emphasis on well-designed buildings, says the chairman of the Urban Redevelopment Board, Associate Professor Khoo Cheng Lim. "Many developers participating in the tender for sale sites have229 words
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218 1990-10-13 2 ARGENTINA is keen to interest Singapore's textile makers in joint ventures in the South American nation. The country is one of the world's leading producers of wool and cotton, says Ambassador Sanchez Amau, National Director for Foreign Policy and Economic Negotiations at Argentina's218 words
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SHIPS IN PORT
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Article424 1990-10-13 2 to* fey to Berth VomI toy Hi Berth RnM Depata K6qm| Habere 9007 K31 alongside 16.10/1500 Kota E-865 K33 akmpde 16.10/0600 UHn 9 K30 akwgade 1310/1830 Shoushar 33/34 K29 alongside 14.10/2300 Sfcer HmU 36A K34 alongside 17.10/0600 Kota Angkasa 42/90 K32 12.10/1500 14.10/0600 D Prosperity «/9 alongside424 words
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Article1153 1990-10-13 2 jECgWjC OF EXPOBT Fa CONTAINERS AMD ICl CABCO Record Bootaf/Mwct Wb 9# fey No Etb/Btr Mod From To Fran taL l, 28 14/2300 1 12/1500 12/1659 12/1900 4 13/1200 13/1459 13/1700 M Goncharo* 60Mf90 14/1600 2 12/1700 13/0659 13/0900 4 13/1200 13/1459 13/1700 Au Bhom 62S 14/1500 11,153 words
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SINGAPORE – MALAYSIA COMPANY NEWS
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Article, Illustration494 1990-10-13 3 Lee Han Shih - By Lee Han Shih FOR THE second time in two weeks, Malaysian tycoon Quek Leng Chan has taken a move that could be seen as an encroachment on the territory of his cousins who run the Singapore side of the Hong Leong494 words
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179 1990-10-13 3 ELECTRONICS firm Acma Ltd has set up a joint venture company which will do research and development work on energy-efficient electronic devices and systems. Acma's partner is Hong-kong-based International Climatic Controls Ltd. No other details were given in the brief statement, except that179 words
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253 1990-10-13 3 Bernama THE MALAYSIAN Public Enterprises Ministry has identified 19 companies which have achieved good track records and which fulfill the conditions for listing on the Kuala Lumpur Stock Exchange, the minister, Datuk Napsiah Omar, said yesterday. In order to ensure thatBernama - 253 words
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311 1990-10-13 3 LISTED British food group Grand Central Investment Holdings (GCIH), which is in the midst of a takeover bid for locally-listed Sunshine Allied Investments, intends to develop the company into a food manufacturing and distributing group in chocolate, confectionary and other related food311 words
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218 1990-10-13 3 DIVERSIFIED trading group Intraco Ltd has clinched $40 million worth of contracts to supply materials for the Pulau Brani port development project. Announcing this yesterday, Intraco said the largest was a $30 million deal to provide 38,000 tonnes of steel reinforcement bars. It is218 words
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227 1990-10-13 3 Bernama TELEKOM Malaysia Bhd's public offer of 147.9 million shares at Mss apiece has attracted more than 200,000 applications for more than double the number of shares available. The 200,962 applications for 300.672 million shares represented an oversubscription of 1.03 times, MIDF Consultancy andBernama - 227 words
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307 1990-10-13 3 William Chia - By William Chia A CONSORTIUM led by management consultant Arthur D Little has clinched the Singapore Broadcasting Corporation privatisation study project. In a release yesterday, SBC said that the consortium was selected from among 10 teams which submitted proposals in an open tender307 words
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173 1990-10-13 3 PRUDENTIAL Asia, the investment and merchant banking arm of US-based Prudential Insurance Company, has bought a 30 per cent stake in Pemas OUE (KL). In a statement yesterday, Prudential Asia said it bought the stake from Malaysia Kuwait Investment Company. No other details173 words
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COMPANY BRIEFS
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63 1990-10-13 3 THE DIRECTORS of Singapore Fodder Company (SFQ has appointed NM Rothschild Sons (Singapore) to advise them on the takeover offer by Unicentrai Corporation Pte Ltd. On. Wednesday, the bidder, which is part of the Soon Peng Siong. group, made a conditional takeover offer for63 words
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Article36 1990-10-13 3 UNITED Industrial Corporation said yesterday that the sale of 101.7 million shares in Development Commercial Bank Bhd by UIC (Malaysia) Sdn Bhd to Rashid Hussain Bhd was completed on Oct 12.36 words
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Article29 1990-10-13 3 GOLDEN Mile Services Pte Ltd, a subsidiary of City Developments, has changed its name to City Building Maintenance Pte Ltd with effect from Oct 3.29 words
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Article51 1990-10-13 3 BERJUNTAI Tin Dredging Bhd, which is seeking to diversi- fy into other non-traditional businesses, hopes to identify,suitable opportunities in manufacturing before the end of next year, chairman Mr Ibrahim Menudin said yesterday. He said the company had to look into other activities because of* the depressed tin51 words
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Article65 1990-10-13 3 THE IMPLEMENTATION of Perwira Habib Bank;s proposed capital restructuring scheme is expected to gain momentum after the current financial year ending Dec 31, 1990, as it has yet to receive the approval of Bank Negara, executive director Raja Datuk A man Ahmad said yesterday. The central65 words
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Article59 1990-10-13 3 LINGUI Development Bhd has received the Foreign Invest—, ment Committee's approval for the proposed disposal of its, equity interest in subsidiary Industrial and Commercial In- surance (Malaysia) Bhd. Bumiputra Merchant Bankers Bhd said in a statement issued on behalf of Lingui that the disposal was still59 words
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Article53 1990-10-13 3 SHELL Malaysia Trading Bhd yesterday signed an agreement; for the issue of guaranteed corporate bonds amounting to MSBO million. Dr Lawrie Austin, managing director (down-" stream), Shell Companies in Malaysia, said at the signingceremony that the bonds are being issued to a single investor, the53 words
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Article87 1990-10-13 3 ANTAH Risjad Ltd, a 70-30 joint-venture company between r Antah Holdings Bhd and P T Rismar Transmdo will have an issued capital of US$6 million and shareholders loan of USSS.S million. Antah Holdings said in reply to queries from the Kuala Lumpur Stock Exchange that Antah87 words
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Page 3 Advertisements
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Advertisement422 1990-10-13 3 THE HIG HE ST HONOURS ACCORDED TO BUSINESS ACHIEVERS inqaporo Business Times In 1985, Business Times, Singapore's business daily, and the leading air express company, DHL Worldwide Express, came together to organize an award scheme to honour Singapore's most successful businessman. In the years before, public recognition for business achievers422 words
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COMPANY NEWS
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COMPANY BRIEFS
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90 1990-10-13 4 LEADING Thai securities brokers have postponed plans to open provincial branches and are slowing down credit extension to the real estate sector as earnings in the fourth quarter are predicted to plunge 30-50 per cent from the second and third quarters, The Nation90 words
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Article62 1990-10-13 4 HYUNDAI Motor Co Ltd, part of South Korea's huge conglomerate Hyundai Group, will export 1,000 Excel cars worth five billion won to the Philippines by end-December for use as taxis, a Hyundai Motor spokesman said. The first shipment of 230 Excel units is due to leave62 words
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Article93 1990-10-13 4 COCA-COLA Corp is to invest about 65 million Deutsche marks (US$4O million) over the next three years to develop a bottling and distribution network in former East Germany, the firm said here Thursday. Coca-Cola spokesman WolfHennig Kriebel said the company wanted to acquire a stateowned93 words
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Article90 1990-10-13 4 SALES of Volkswagen and Audi cars in Japan are expected to reach 58,000 this year, up from 49,200 in 1989, a spokesman for the German auto maker said here Thursday. By the mid-1990'5, VW-Audi sales in Japan should reach around 100,000 vehicles a year, he90 words
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Article92 1990-10-13 4 EC Agriculture Commissioner Ray MacSharry defended his role in keeping Irish "Beef Baron" Larry Goodman's debt-rid-den meat processing company afloat. Former Dutch agriculture minister Gerrit Braks has said Mr MacSharry, himself an Irishman, made representations to him on behalf of Mr Goodman. The European92 words
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Article74 1990-10-13 4 KONICA Corp plans to increase photocopier output at its German plant to 100,000 units a year by the end of 1992 from the current 60,000, a company spokesman said. Konica Business Machines Manufacturing GmbH, based in Rudersberg in western Germany, will invest two billion yen74 words
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406 1990-10-13 4 Reuter UAL CORP's three main unions said UAL on Thursday proposed allowing individual employees buy up to 20 per cent of UAL stock at a 15 per cent discount from the market price through a stock purchase programme. "It is ironic that UAL proposesReuter - 406 words
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Article, Illustration328 1990-10-13 4 Reuter HILTON Hotels Corp said its third quarter earnings fell due to lower results in both its gaming and lodging operations. Third quarter profits fell to US$2l.9 million or 45 cents a share from USS2B.I million or 58 cents a share in the 1989 quarter.Reuter - 328 words
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262 1990-10-13 4 THE SALE of interests in Wu Chung House has enabled Hopewell Holdings to realise a 21 per cent growth in net profit for the year ended June 30. The South China Morning Post reported on Thursday that Hopewell's net profit amounted to HKS62S.B million,262 words
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262 1990-10-13 4 Reuter JAPAN'S Asahi Breweries yesterday revised a As96o million (US$7B7 million) deal to buy a major slice in Elders IXL, the world's fourth largest brewer, because of the recent slump in Elders's share price. Asahi, Japan's secondlargest brewer, still plans to buy 19.9 per centReuter - 262 words
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Article450 1990-10-13 4 Reuter JAN TIMMER, chairman of troubled electronics group NV Philips Gloeilampenfabrieken said he has launched "Operation Centurion", a drive to fight bureaucracy and improve profitability in the company. Mr Timmer told the company newspaper Philips News: "The attitude and behaviour of the pastReuter - 450 words
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Article, Illustration434 1990-10-13 4 NYT TURNING attention to its neglected stepchild, Bayerische Motoren Werke AG of Munich, better known as BMW, is trying to pep up its motorcycle division by hiring a new advertising agency, raising ad expenditures tenfold and adding cheaper en-try-level vehicles to itsNYT - 434 words
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Page 4 Advertisements
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Advertisement104 1990-10-13 4 ——-I FOR WHO, WHAT, WHERE AHD WHEN IN 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 trends104 words
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FINANCIAL NEWS
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Article, Illustration508 1990-10-13 5 FT THE Japanese Ministry of Finance has started an investigation of Sumitomo Bank, the leading commercial bank which has been hit by a scandal involving alleged illegal loans and by reports of financial difficulties at Itoman, a trading and property company. Sumitomo BankFT - 508 words
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310 1990-10-13 5 Reuter JAPAN'S Finance Ministry is to question Sanwa Bank Ltd about its alleged links to a stock manipulation scandal involving Sumitomo Bank Ltd and a group of Japanese speculators, a ministry official said in Tokyo yesterday. Sanwa's involvement emerged in a hearingReuter - 310 words
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260 1990-10-13 5 Reuter FEDERAL RESERVE policy makers agreed last week to cut short-term interest rates slightly in response to a budget deficit pact, but baulked at committing themselves to another cut to counteract any further deterioration in the economy, the Washington Post said. The Post,Reuter - 260 words
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Article, Illustration462 1990-10-13 5 DBS Bank, in this week's technical analysis of major currencies, takes a look at where the US dollar is headed US$/Yen: heading for 120.50? AFTER breaking 135.00 last Thursday, US$/yen plummetted to the support level of 128.95 before rebounding to 131.00 on Wednesday. Stochastics and RSI462 words
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311 1990-10-13 5 Quak Hiang Whai - By Quak Hiang Whai THE LAUNCH of the vehicle quota system in April continued to take its toll on finance companies' car loan business in July. Figures from the Monetary Authority of Singapore monthly statistical bulletin show outstanding motor vehicle loans granted by311 words
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366 1990-10-13 5 Reuter MORE large US banks are likely to follow Chase Manhattan Corp and Chemical Banking Corp and cut dividends this quarter, analysts said. Most likely are Citicorp and Manufacturers Hanover Corp since both are undercapitalised. Chemical and Chase and some others may evenReuter - 366 words
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SMALL CHANGE
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106 1990-10-13 5 BANK CENTRAL ASIA, Indonesia's largest private bank, has signed a four-year floating rate certificate of deposit (FRCD) worth US) 100 million. The certificate led by US Chase Manhattan Corp's Asian subsidiary will carry interest of 0.475 point over the London Interbank Offered Rate, BCA106 words
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Article98 1990-10-13 5 S G WARBURG Group and Jardine Fleming Securities Ltd expect to start investment trust management businesses in Japan by early November, spokesmen for the companies said separately in Tokyo yesterday. Both have preliminary, and are awaiting final, Finance Ministry approval. It will be the first time98 words
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Article104 1990-10-13 5 MIDLAND BANK pic said in London on Thursday that it has signed a four-year agreement to act as acquirer and processor for Japanese JCB International travel and entertainment card transactions in Britain. Midland said it will expand the JCB network over the four years to104 words
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Article104 1990-10-13 5 THE BUYOUT FIRM Forstmann Little has approached potential investors to raise US$l.5 billion for a fund of subordinated debt to help finance new takeover acquisitions, according to Wall Street sources. The sources said the firm, which has closed two major leveraged buyout (LBO) deals this year104 words
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Article88 1990-10-13 5 SKANDINAVISKA-ENSKILDA BANKEN, one of Sweden'* leading banks, will take a 28 per cent stake in the Skandia insurance company by acquiring the holdings of investment companies Investor and Providentia (18 per cent) and of the Marieberg press group (10 per cent), S-E Banken said in Stockholm88 words
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Article52 1990-10-13 5 FRENCH investment bank Cie Financiere de Paribas has denied rumours that it would sell its 29.6 per cent stake in the trading house SCO A. "Paribas formally denies it is considering the sale of its stake in SCO A," said a spokesman for the group52 words
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Page 5 Advertisements
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Advertisement122 1990-10-13 5 Double Value Bonanza ssi,ooo=ssi,ooo/c ■HaKi ssi,oo An Attractive offer I NOT TO BE MISSED From 13™ OCT. 31 st OCT. Only Regardless whatever amount 1 you purchase from us, we shall give you double value for your money. Just imagine purchasing Ssl,ooo worth of merchandise from us, j you get122 words
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Page 5 Miscellaneous
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Miscellaneous34 1990-10-13 5 Dollar$ Non$en$e i«j.i Ii 4 ••^w r, ->\r»- rv "You've been untrue to your wife, disloyal to your friends and a,traitor to your country." 'Yes, but I have faithfully made all my mortgage payments."34 words
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THE REGION
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NOTE BOOK
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61 1990-10-13 6 THAILAND was negotiating with China to jointly make garments at low cost for export to Europe and the US, Thai Commerce Minister Amaret Sila-on said on state radio yesterday. Mr Amaret said proposals were being discussed to send ready-made garments to China for bleaching61 words
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Article82 1990-10-13 6 FOREIGN INVESTORS, confused at mixed signals from Manila, may withdraw from the Philippines if the US military bases are abruptly removed, US Ambassador Nicholas Piatt said yesterday. Mr Piatt said investment decisions over the next decade would be influenced to some degree by the outcome of82 words
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Article58 1990-10-13 6 OPPOSITION LEADER Jim Bolger said New Zealand's credit rating could be reviewed after the central bank forecast a higher current account deficit, but Moody's Investor s Service said its AA-3 rating still stood. The Reserve Bank yesterday forecast deficits in 1991 and 1992 at NZ$5 billion,58 words
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Article82 1990-10-13 6 FIVE HOUSTON MEN face up to five years in prison and a U*****,000 fine after they were convicted of plotting to sell rice and military equipment for Vietnam's Communist government. A federal court jury on Wednesday convicted the five of violating the Trading with the82 words
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Article79 1990-10-13 6 JAPAN WILL DECIDE on its fiscal 1990 loans to the Philippines before a World Bank meeting on aid to that country, but still does not know the dates for the meeting, according to the Manila Foreign Ministry. A ministry official yesterday declined to discuss why79 words
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Article68 1990-10-13 6 THAI FOREIGN MINISTER Subin Pinkayan said he held talks in Bangkok yesterday with his Laotian counterpart Phoune Siphaseuth on stepping up bilateral trade and cooperation. Mr Subin said that Thailand was interested in buying more electricity from Laos and was ready to cooperate in developing Laos' hydroelectric68 words
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Article50 1990-10-13 6 A SMALL AUCKLAND COMPANY has been named the consultant for a US$4 billion project to build an industrial zone in Vietnam. The project includes a harbour, industrial area, international airport, 350 km of roads, three hospitals, five hotels, 15 schools, 120 restaurants and 100,000 apartments.50 words
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Article48 1990-10-13 6 MALAYSIAN TEXTILE COMPANIES that took part in the recent 28th Berlin Import Fair won orders worth 2.4 million D-marks. A report from the German press agency, Inter tfationes Bonn, said orders concluded by the Malaysian companies at the fair were for a variety of garments.48 words
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501 1990-10-13 6 AFP CAMBODIA received a welcome shot in the arm with the recent visit of a top French official but more potent medicine is needed if current ills are to be cured. French Deputy Foreign Minister Thierry de BeauceAFP - 501 words
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Article, Illustration48 1990-10-13 6 North Korean soldiers craning their necks yesterday in the border village of Panmunjom to watch a video showing North and South Koreans enjoying each other's company at the Asian Games in Beijing earlier in the month. Renter picture Reuter pictureReuter picture - 48 words
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383 1990-10-13 6 AMERICA has positively re- sponded, for the first time, to Thailand's request for it to defer the Trade Act's Section 301 retaliatory measures following a General Agreement on Tariffs and Trade ruling in favour of the US on cigarette imports. The Bangkok Post383 words
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177 1990-10-13 6 THE TAIPEI government has set up a high-level agency to strengthen its policy towards Hongkong, including ensuring the presence of Taiwanese organisations in the Special Administrative Region 1997. The South China Morning Post reported that the new office will be called the Hongkong and177 words
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361 1990-10-13 6 THE PRIVY COUNCIL in London has reaffirmed the ability of Hongkong companies to earn non-taxable profits from business deals carried out and competed offshore. In a decision handed down this week, the Privy Council upheld a previous decision by the Court of Appeal361 words
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Article, Illustration360 1990-10-13 6 Further liberalisation of foreign trade under study THE INDONESIAN government is currently preparing new deregulatory measures in the fields of exports and imports, capital markets and venture capital in an effort to make the country's economy more efficient. Finance Minister J360 words
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134 1990-10-13 6 SEVERAL INVESTORS have violated plans in setting up tourism and industrial projects in Bali, thereby damaging water resources on the tourist island, according to a Jakarta Post report. State Minister for Population and Environmental Affairs Emil Salim said: "If no correctional measures are taken134 words
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Page 6 Advertisements
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Advertisement332 1990-10-13 6 NOTICE OF TENDER TENDER FOR ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING OF THE STRAITS OF JOHORE CROSSING PROJECT B PETRONAS GAS SDN BHD (PGSB) a wholly owned subsidiary of ■H PETROL lAM NASIONAL BERHAD (PETRONAS) will be implementing the construction of 3.2 km of a 30 inch diameter high pressure, natural332 words
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THE WORLD
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Article, Illustration352 1990-10-13 7 AP US TREASURY Secretary Nicholas Brady is asking Congress to provide US$4O billion more for the savings and loan bailout. Without the money, thrift rescues "will virtually cease within the next two months," he said in a letter released on Thursday. The moneyAP - 352 words
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321 1990-10-13 7 AFP US TRADE Representative Carla Hills denied on Thursday that Washington would pull out of ongoing world trade talks if progress is not made towards "fundamental reform" in agriculture. But she warned that a failure to successfully address the agriculture matterAFP - 321 words
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Article, Illustration56 1990-10-13 7 Saturn car workers cheering their management during introduction ceremonies for the Saturn product line at Saturn Assembly in Spring Hi on Thursday. Workers surrounded the 1991 Saturn Sports Coupe, one of three vehicles introduced. There will be no rebates on the product line, according toReuter picture - 56 words
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308 1990-10-13 7 Reuter US RETAILERS, feeling the brunt of consumers' recession fears, reported disappointing September sales results. Department stores that normally see healthy sales gains reported declines based on comparable-store sales sales at stores that have opened at least a year. The May Department StoresReuter - 308 words
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359 1990-10-13 7 AP THE BRAZILIAN government has proposed to convert US$6O billion of its debt to private foreign creditors into medium and long-term government bonds. The conversion scheme was announced simultaneously on Thursday by Secretary of Economic Policy Antonio Kandir to US bankers in New YorkAP - 359 words
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536 1990-10-13 7 Reuter BARELY a week after sterling became a full member of the European Monetary System, pressure is mounting on the British government to commit itself to a single currency in the European Community. Sir Michael Butler, widely considered to have inspiredReuter - 536 words
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WORLD WATCH
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78 1990-10-13 7 CHINA'S exports from January to September totalled U5541.38 billion, an increase of 14.29 per cent compared with the same period last year. The official New China News Agency quoted customs officials as saying there were increases in exports of crude oil and78 words
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Article72 1990-10-13 7 ECONOMICALLY pressed Argentina wants to enter Opec, according to a news report on Thursday. Argentine President Carlos Menem was quoted by Venezuela's government news agency Venpres as saying Argentina plans to free its domestically controlled energy prices in January and to increase foreign oil sales72 words
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Article84 1990-10-13 7 SOVIET unemployment could soar to about 10 million over the next 18 months if a radical economic reform programme is introduced, a senior government official said on Thursday. Currently there are about 2.5 million jobless in the Soviet Union (population: 286 million) with the problem84 words
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Article100 1990-10-13 7 THE WHITE HOUSE announced on Thursday that President Bush would visit Argentina, Brazil, Chile, Uruguay and Venezuela in early December in a trip that was put off last summer due to domestic budget negotiations. The trip is designed to highlight Mr Bush's determination to improve100 words
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Article68 1990-10-13 7 SEMATECH, the US semiconductor industry's research consortium, remains unconvinced that its technical secrets can be protected once a vital equipment supply company is sold to a Japanese buyer, company officials say. The Japanese company, Nippon Sanso, wants to buy Semi-Gas Systems Inc. But a Sematech official68 words
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Article, Illustration531 1990-10-13 7 The Gulf Crisis AP US DEFENCE Secretary Dick Cheney will ask senior Soviet government officials for intelligence data on the Iraqi military during his fourday visit to Moscow next week, a senior Defence Department official said on Thursday. Mr Cheney plans toAP - 531 words
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334 1990-10-13 7 Reuter THE European Community Commission is considering creating special intervention stocks which would enable the EC to stabilise the oil market in times of crisis, the ECs top energy official said on Thursday. The EC was mulling "the possibility of creating meansReuter - 334 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration4193 1990-10-13 8 William Chia - By William Chia SHARE PRICES on the Singapore stockmarket closed higher yesterday on widespread baraain hunting after seven straight days of losses. Share prices weakened at the start following three days of sharp falls on Wall Street and further declines in Tokyo but started4,193 words
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Article3986 1990-10-13 9 Main Board su 200 1030 +30 +3.0% FELS 50* 560+25 +4.7% Cokl Store 50* 208 +18 9.5% OUE 515 +15 +3.0% Prima 515 +15 +3.0% BAT 22* 346 +12 3.6% RDC 270 +12 +4.7% Haw Par 225 +12 +5.6% Hotel Prop 136 +11 +8.8% SIA3,986 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration3682 1990-10-13 10 MBT. Bernama THE Kuala Lumpur stock market displayed remarkable resilience yesterday, reversing early weak trading to close firmer. However, scattered double-digit losses were posted. The KLSE Composite Index closed 2.14 points higher at 471.22 while the Industrial Index moved up 1.61 pointsMBT.; Bernama - 3,682 words
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Page 10 Advertisements
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Advertisement72 1990-10-13 10 Employ Business Times. Singapore's foremost business and financial daily is compulsory reading for the successful. If you're "headhunting", you are on target with Business Times. Executive Appointment advertisements will be in the daily Stock Exchange pages and on Saturday, in the Jobs page of the Executive Life- t style fy72 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2240 1990-10-13 11 Reuter TOKYO stocks closed lower yesterday after a day of moderate trade in which potential buyers were largely sidelined by higher oil prices and losses on Wall street. Buying in the afternoon of electrical power and construction issues helped pull the Nikkei average offReuter - 2,240 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration2301 1990-10-13 11 Reuter HONGKONG stocks closed higher on institutional interest yesterday, better Gulf sentiment and technical factors, dealers said. "It's basically a trading market between (the Hang Seng's) 2,850 and 2,950," said a broker. "At low levels investors start buying and at upper ranges we'll see selling again."Reuter - 2,301 words
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Page 11 Advertisements
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Advertisement11 1990-10-13 11 Closing prices for Hongkong and Tokyo markets are provided by Telerate.11 words
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REGIONAL STOCK MARKETS
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Industrials weaken Australian market
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Article866 1990-10-13 12 WEAKNESS in major offshore share markets steered the Australian bourse to a sharply weaker close yesterday, compounded by significant falls in highlygeared industrial stocks. Brokers said losses on the Tokyo market contributed to local weakness. 'There was some short covering in leading stocks across the board but we all866 words
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Article694 1990-10-13 12 THAI share prices closed mixed in thin trading after early losses were shored up by last minute buying from mutual funds ahead of the weekend, brokers said. The official SET Index fell 2.06 points to close at 642.37 on 1.2 billion baht turnover. Advances led declines 74 to 58.694 words
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Article86 1990-10-13 12 Chm Pitviow Oct 12 SYDNEY All Ordinaries Index 1,326.1 1,342.2 -16.1 All Industrials Index 1,984.3 2,000.) -16.2 All Resources Index 814.6 829.5 -14.9 Turnover (million) 80.68 32.8 +27.88 BANGKOK SET Index 642.37 644.43 -2.06 Turnover (million) NA 1,800 JAKARTA Composite Index 423.39 428.36 -3.17 Turnover (nearest '000) 2.29 1.75 +0.5486 words
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Article477 1990-10-13 12 PHILIPPINE shares finished slightly firmer on various rumours about the Gulf, but off the highs as none were confirmed, brokers said. The Manila Stock Exchange composite index inched up 4.56 points to close at 545.18. Combined trade on the two bourses rose in volume but fell in value to477 words
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Article380 1990-10-13 12 TAIWAN stocks reversed early losses yesterday as talk about a BBC report that Iraq might withdraw from Kuwait if threat of a US attack were removed supported the market, dealers said. The weighted index gained 47.20 points, or 1.8 per cent, to finish at 2,620.65. Turnover rose to NTS380 words
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Article394 1990-10-13 12 NEW ZEALAND'S Barclays index hit its lowest point for almost six years, as leading stocks closed sharply lower in line with major world bourses. The Barclays Index estimate ended 44.62 points lower at 1,347.90, taking its fall this week to eight per cent. It has not been this394 words
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Article357 1990-10-13 12 la local currency In SS la US$ on .1 as 12 izr World 340.4 -IJ -26.8 -1.7 -28.7 -1.7 -21.8 tEAFE 458.6 -10 -32.7 -2.2 -31.6 -2.2 -24 9 Europe 367.5 -0.2 -18.4 -0.7 -14.3 -0.7 -60 Pacific 744.1 -3.4 -41.2 -3.3 -41.3 -3.4 -35.6 Far East 965.4 -3.5 -42.1357 words
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Article791 1990-10-13 12 SEOUL stocks rose for the third day in a row in morning trade as individuals actively, bought after forced big sales of bad accounts on Wednesday, brokers said. The composite stock index stood at 627.19 near the close of the morning session, up 5.26 points from Thursday's close. Brokers791 words
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Article521 1990-10-13 12 Reuter PRICES on the Jakarta stock exchange closed lower, bringing the index 3.17 points down to 425.39, but turnover rose to 2.29 million shares from 1.7S million. Bank Duta and Inco were the most actively traded on the regular market at 175,500 and 114,500 shares respectively. Both shares wereReuter - 521 words
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Page 12 Advertisements
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Advertisement11 1990-10-13 12 Closing prices for all markets except Taipei are provided by Telerate.11 words
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WORLD STOCK MARKETS
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Dow reels from a triple blow
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Article, Illustration1195 1990-10-13 13 A TRIPLE blow of Middle East violence, deadlocked efforts to cut the US Budget deficit and soaring oil prices sent stocks tumbling and the dollar to an all-time low against the German mark on Thursday. The Dow Jones industrial average closed with a loss of 42.82 points at1,195 words
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Article, Illustration995 1990-10-13 13 UK SHARES recovered small early losses to clamber back above the 2100 points support level yesterday, but the maricet remained largely unmoved by the rise in the annual inflation rate in September, dealers said. "The market's fairly positive, though quiet," one dealer said. "It was braced for an inflation995 words
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Article84 1990-10-13 13 Oct II Claw Ptrriow NEW YORK Dow Jones 2,365.10 2,407.92 -4182 NYSE Financial 104.65 106.85 -2.20 SAP 500 295.46 300.39 -4.93 Turnover (million) 180.06 167.89 +12.17 LONDON Financial Timet 30 1618.90 1626.70 -7.80 FTSE 100 2102.20 2121.80 -19.60 Turnover (million) 361.3 427.4 -66.1 AMSTERDAM CBS General 170.10 170.80 -0.70 Stock84 words
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Article247 1990-10-13 13 DUTCH stocks started mixed in slow trading. Worries over the Gulf crisis, dollar weakness and US Budget uncertainty continued to weigh on on the market but short covering by futures traders kept prices from falling, dealers said. At 0930 GMT, the EOE share index was unchanged at 227. "The247 words
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Article163 1990-10-13 13 FRENCH share prices were mixed at midsession as selective bargain-hunting emerged despite Wall Street weakness and persistent uncertainty over the outcome of the Gulf crisis, dealers said. "People are cautiously getting back into those shares that have been hit hard lately and that have clear earning prospects," one trader163 words
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Article178 1990-10-13 13 BELGIAN shares started mixed in thin trading yesterday, although dealers said there was some sign of bargain-hunting by investors after the losses of recent weeks. "Everyone is still waiting to see what happens in the Gulf, so trading volume is still thin," said one dealer. The market opened with178 words
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Article193 1990-10-13 13 GERMAN shares jumped two per cent in the first 20 minutes of trading on Friday, supported by a report that Iraqi President Saddam Hussein had told a Soviet envoy he might be prepared to withdraw from Kuwait if the threat of a US attack were removed. The 30-share DAX193 words
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Article283 1990-10-13 13 SWISS shares traded higher at midsession in thin volume, following the fir-~ mer trend in Frankfurt, dealers said:. Slightly lower short-term interest rates also lifted sentiment, they added. The SMI index of leading shares' stood 10.1 points higher at 1,445.2 after earlier peaking at 1,448.6 and the all share283 words
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Article215 1990-10-13 13 Reuter TORONTO stocks closed sharply kruar on Thursday, dropping over 50 pointoj on continuing nervousness over thfcMiddle East, the US Budget deficit aittf* the slumping North American mies, traders said. "It's just a case of too many uncertainties," said analfff" Jack Stacey. The composite index lost 54.58 3,055.29 onReuter - 215 words
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Article197 1990-10-13 13 PRICES on the Stockholm bourse firmed marginally in thin early trade, surprising some dealers. "The rise was unexpected. The few explanations I can think of are that the Frankfurt bourse seems strong today and that oil prices haven't risen again," one dealer said. By mid-morning, the general index had197 words
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Article367 1990-10-13 13 Johannesburg Oct II Rand industrials A Alpha 2200 unch A EC I...: 1275 +25 Abercom 45 unch Amaprop 735S AMIC 7200 unch Barlows 3075 unch Basil Strk 20B Blyvoor 1300 -200 CG Smith 6250B Cnagalo 1550 unch Curfin 300 unch Edgars 3500S Fed Voile First Intl 1210 +10 Hi veld—367 words
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Page 13 Advertisements
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Advertisement19 1990-10-13 13 1 1 -jii t m Read Chartpoint, a guide to investing in the stock market Every Saturday in BT.19 words
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CURRENCY, MONEY & FUTURES MARKETS
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1219 1990-10-13 14 FORE THE US DOLLAR closed easier against the yen yesterday, but firmer against the mark and sterling. In Tokyo, the US dollar seesawed against the yen on rumours related to the Gulf crisis but market talk that US monetary authorities would tolerate1,219 words
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Article1585 1990-10-13 14 SIMEX EUjODOt-UUI mp Open High Low Sett Est Vol Op/lnt Vol Dec 90 91.95 9108 9L94 9L96 fiioo ***** ***** Mar 91 92.08 92.18 92.08 92.10 ***** ***** ***** Do jun 91 92.01 92.12 92.01 92.02 II8S 3317 1281 M* Sep 91 91.81 91.84 91.80 91.82 350 4801,585 words
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Article390 1990-10-13 14 Cross rates <*« 12 USS SS MS Dm Yen SFr AS NZJ uss 1.7275 2.6955 1.5170 129.75 0.5066 1.2755 1.2255 1.6194 SS 0.5789 1.5603 0.8781 0.7511 0.2932 0.7384 0.7094 0.9374 MS 0.3710 64.09 0.5628 0.4814 0.1879 0.4732 0.4546 0.6008 Dm 0.6592 1.1388 1.7769 85.53 0.3339 0.8408 0.8078390 words
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Article563 1990-10-13 14 Interbank rates S$ Bid Offer Overnight 6 3/8 6 1/2 1-month 6 1/2 6 5/8 2-month 6 1/2 6 5/8 3-month 6 1/2 6 5/8 Overnight mode: 6-1/2 USS Bid Offer 7 days 8 1/16 8 3/16 1 month 8 1/8 8 1/4 2 months 8 1/8 8563 words
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Page 14 Advertisements
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Advertisement5 1990-10-13 14 The Sang Kancil Portfolio li^T^vei^Tuesda^5 words
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COMMODITIES
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363 1990-10-13 15 Bernama DEMAND for natural rubber (NR) is unlikely to improve as uncertainties over the Gulf crisis prevail and economic performance of industrialised countries, especially the US and European Community, is affected, says the Malaysian Rubber Exchange and Licensing Board. Higher synthetic rubber (SR) pricesBernama - 363 words
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309 1990-10-13 15 Bernama THE current Gulf crisis has brought about the most challenging time for Malaysian timber exports to West Asia. It has resulted in higher freight rates, increased insurance premiums and less purchasing power in some markets, says the Malaysian Timber Industry Board. EvenBernama - 309 words
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847 1990-10-13 15 REPORTS HONGKONG GOLD closed off its day's low in choppy trade here on the emergence of short-covering after the European open, dealers said. Dealers said arbitrage selling pressured gold prices by more than US$3 in the morning before late buying pulled847 words
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Article1341 1990-10-13 15 Rubber Oct 12 ■M(hblnH») S cents/kg Noon Close Int I RSS Prompt 155.50/156.50N 155.00/156.00N lnt I RSS Nov 90 I55.2VI55.75 I54.7VI55.25N Int I RSS Dec 154.25/154.75 153.7VJ54.25N Int 2 RSS OP I50.25/I52.25N 150.00/152.00N Int 3 RSS OP I45.75/147.75N I45.S0/I47.50N Int 4 RSS OP I4I.7VI43.75N I4I.50/143.50N Int 5 RSS OP1,341 words
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Page 15 Advertisements
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Advertisement9 1990-10-13 15 Managers must manage. BT shows you how every Monday.9 words
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Advertisement531 1990-10-13 15 NOTICES THE COMPANIES ACT, CHAPTER 50 Section 290(2Mb) NOTICE OF RESOLUTION T.LB. SECURITIES PTE LTD (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of T.LS. Securities PteLkfheld at 6 Battery Road #32-00, Standard Chartered Bank Building Singapore 0104 on the 24th day of April 1990, the toSowmg special resolutions531 words
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Advertisement33 1990-10-13 15 READ liiiMlH C H A R T P 0 I I jfl FIV tiRY s A T m u Ri IN B u s 1 N E S s T I M E33 words
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366 1990-10-13 16 Schutz Lee - By Schutz Lee SHIPPING, electronics and textiles these are the areas which Singapore businessmen are competitive in and they should go into them when they invest in Eastern Europe. Making the observation yesterday at a seminar here was Dr Herbert Stepic,366 words
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384 1990-10-13 16 Genevieve Cua - By Genevieve Cua THE CASH-FLUSH Japanese are once again poised to take the lead in investments, this time in the liberalising Economies of the USSR and pastern Europe. A survey by US-based ac;Counting firm DRT Intemaifeonal has found that the Japanese account for384 words
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387 1990-10-13 16 Reuter BRITAIN'S inflation hit an eight-year high of almost 11 per cent in September, a reminder that problems still beset the economy despite recent euphoria over British entry to the European currency float. Prime Minister Margaret Thatcher's hopes of winning ;a fourthReuter - 387 words
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179 1990-10-13 16 THE NEXT few days will see renewed efforts to promote the growth triangle concept to Japanese investors. Trade and Industry Minister Brigadier-General (Res) Lee Hsien Loong will visit Tokyo tomorrow as the guest of honour of the Japan-Singa-pore Economic Advisory Group179 words
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Article, Illustration468 1990-10-13 16 Run-up to Malaysian elections Reuter MALAYSIAN Prime Minister Datuk Sen Dr Mahathir Mohamad's National Front coalition yesterday pledged to continue a liberal economic growth policy into the *****. The Front, seeking re-elec-tion to power in the country's eighth general election on Oct 20-21,Reuter - 468 words
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294 1990-10-13 16 PM Lee in Brunei PRIME MINISTER Lee Kuan Yew is confident that the special ties between Singapore and Brunei will continue after Mr Goh Chok Tong takes over as premier in November. The special relationship between Singapore and Brunei spanned a wide spectrum of294 words
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261 1990-10-13 16 MALAY/MUSLIM professionals who believe that Mendaki cannot do much good because of its political ties should take up the government's offer to start a new, privately-run Mendaki, Prime Minister Lee Kuan Yew said yesterday. "Then they can do everything without261 words
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204 1990-10-13 16 THE PRIME MINISTER'S visit to China next week will be a round-up visit to wrap up his association with the Chinese leadership over the last 16 years. Mr Lee Kuan Yew, speaking to Singapore journalists at the end of his three-day visit to204 words
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Page 16 Advertisements
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Advertisement4 1990-10-13 16 (sAeefflu) (ieiiuine l.i'ather Collection4 words
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Advertisement78 1990-10-13 16 SAcchi s (nil itiiw IKilln r dilution $4 A MONTHLY MAGAZINE OF BUSINESS TRENDS Conner Peripheral# In Singapore seta the pace for worldwide operations e Financial futures trading going on-line e Giant land sales put property market to the test e Air express couriers In dogfight over Singapore e Palm78 words
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Executive Lifestyle
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Article, Illustration1553 1990-10-13 17 John Tan - John Tan tries to sneak into China with his Louis Vuitton bag and no visa John Tan SOME PEOPLE take slow boats to £hina. I took a very slow train, and until now, I'm not1,553 words
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STRAWS IN THE WIND
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Article85 1990-10-13 17 ONE shopper has found jSji perfect way to ward off 366. wanted attention in ment stores. While at jttfr toiletries section of St fIC chad's, a man came u lQBt her and began telling jy about a wonderful was buying. Shocked, went: "Oh, er, this is g&l too,"85 words
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Article43 1990-10-13 17 A colleague who recertly came back to work aftSCS gall bladder opcrttigp wasn't quite his usual chl#» self. When conceriSSS friends asked why -3BL seemed to have lost!Mp sparkle, he quipped: "3£au would too if you just your guts". 943 words
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Article85 1990-10-13 17 Why do Koreans likQß come to Singapore? Aojoul' ing to one in the know/4fc» answer lies in the \tiSQ GROCER. G for greeicfe for reliable, O for organ C for clean, E for efficSßC R for relaxing. GROCER qualities niS» Koreans yearn to visitSß island republic in eveCjE85 words
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OPINIONS
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Article, Illustration922 1990-10-13 18 Hong Lee Tiam - Hong Lee Tiam on the loss of heron nesting sites and what can be done to save our wildlife Hong Lee Tiam Hong Lee Tiam, an ardent bird-watcher, is a BT journalist WITHIN a period of about six weeks, Singapore lost the922 words
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Article, Illustration890 1990-10-13 18 Claire Leow - Claire Leow on Chinese as a first language at primary school level Claire Leow Claire Leow is a BT reporter THE recent disclosure by First Deputy Prime Minister Goh Chok Tong that the Government would explore the possibility of Chinese being taught as a first890 words
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Article1001 1990-10-13 18 Goh Nguen Wah - Goh Nguen Wah on the Speak Mandarin Campaign Goh Nguen Wah Goh Nguen Wah is Deputy Chief Editor of "Lianhe Zaobao". This article first appeared in the Sep 30 issue of that paper THE Speak Mandarin campaign entered its twelfth year on Oct 4. When the campaign was1,001 words
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SPORTS
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Article, Illustration854 1990-10-13 19 Shirish Nadkarni - Shirish Nadkarni in a special report for Executive Lifestyle looks at the significance of German unification for the sporting world Shirish Nadkarni EAST and West Germany have finally united and become one. A nation sundered into two at the close of World War II854 words
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307 1990-10-13 19 LESTER PIGGOTT, sensationally returning to the turf, has been making headlines all his life. He rode his first Epsom Derby winner when he was only 18, a record that still stands, and coolly told reporters, "It's just another race. Two weeks later at307 words
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502 1990-10-13 19 NYT THE sluggishness that marked the beginnings of the 1992 defence of the America's Cup has turned into a heated race among three United States yachting teams to build the fastest boat. To that end, the lid is off design, but the capNYT - 502 words
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SIDE LINES
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236 1990-10-13 19 DEAN REYNOLDS, whitewashed 10-0 by Steve Davis in lasC year's Grand Prix final, failed to make the televised stage of this year's snooker event at Reading recently. But Reynolds, beaten 5-2 in the third round by fast-improving Welshman^Darren Morgan, was not too concerned. Warned236 words
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Article153 1990-10-13 19 BERNHARD Langer of Germany shot a course record 7-uih„, der-par 65 in the opening round of the Austrian Open Thursday to take the lead over a field including Jack Nick--laus. Langer, teamed with Lanny Wadkins, fired seven birdies.",, over the 2-year-old, 6,806-yard Gut Altentann course that153 words
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Article120 1990-10-13 19 THIRD-SEEDED Christo van Rensburg and fourth-seedeo Mark Koevermans were upset and eliminated on Thursday in the quarterfinals of the Riklis Classic. Israel's fifth-seeded Gilad Bloom saved three match points to oust van Rensbuig 2-6, 7-6, 7-5 in a three-hour match. Bloom saved his fir* match point during120 words
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Article82 1990-10-13 19 AUSTRALIAN Pat Cash, who won Wimbledon in 1987, has>» been handed a wild card for the US$l.l million Stockholm Open starting on Oct 22. Organiser Johan Flink said Ivan Lendl had asked for a couple of days to think over the offer of the fourth82 words
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EPICURE
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Article, Illustration849 1990-10-13 20 Quek Swee Peng - Quek Swee Peng eats Indian Quek Swee Peng There exists some force that steals the soul for a couple of seconds the moment I step into an Indian restaurant. A sense of history creeps into me and searches in the deep recesses of my memory bank for849 words
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LIFESTYLE 1
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Article, Illustration851 1990-10-13 21 Gina Kolata - Experts now say that coffee drinkers are not more likely to develop heart disease, reports Gina Kolata Gina Kolata NYT CONTRADICTING other recent findings, a large new US study has found that drinking coffee does not make people more likely to develop heart disease. PublicNYT - 851 words
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832 1990-10-13 21 N K Yong - WINE By N K Yong THE FACT that Bordeaux produces a significant amount of white wine, notably from the Graves commune, is seldom remembered, even by wine lovers. For most people, white wine means white burgundy, including Chablis. The smallness of the production may832 words
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Article, Illustration527 1990-10-13 21 Tan Boon Tiong - BRIDGE By Tan Boon Tiong SOMETIMES, trumps held by defenders that look destined to fall harmlessly under declarer's top trumps may be promoted to take tricks. We are all familiar with taking tricks by ruffing with our little trumps but often we hesitate when declarer can over-ruff. However,527 words
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Article, Illustration660 1990-10-13 22 Samuel Ee - Samuel Ee meets a spry octogenarian who plans to leave his mark trademark, that is on Singapore Samuel Ee Hardy amies is so serious about making Singapore the launchpad for his foray into South-east Asia that he's visiting his local licensee to talk shop. Unfortunately,660 words
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Article, Illustration797 1990-10-13 22 Cassandra How - They used to throw grenades but today, the Grenadier Guards stand outside Buckingham Palace. Cassandra How finds out from one of them what their duties involve Cassandra How WHEN Mike Dabbs says "Long live the Queen!" he does it sitting down. But797 words
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Article, Illustration578 1990-10-13 22 Paul Ramani - The ETC play, Kaliug, leaves Paul Ramani emotionally drained Paul Ramani CAN YOU imagine yourself being doused with a pail of acid, in pain and watching your skin peel oflF, layer by layer? Kaliug. at the Substation, has that kind of effect. Directed by Max Le578 words
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PURSUITS
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Article, Illustration754 1990-10-13 23 Cassandra How - Cassandra How visits a gallery located among medicine shops and brothels and meets its owner, who has made for himself a second life surrounded by his first passion art. Cassandra How He used to study the contours of the earth, until he decided he preferred754 words
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Article, Illustration667 1990-10-13 23 Harish Mehta - Harish Mehta meets an eighth generation Martell who Tikes nis cognac with water Harish Mehta PATRICK Firino Martell is the man from Cognac. But can a man belong to a cognac, or a whisky, or laughable as it may sound to a beei? Indeed, sometimes he667 words
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Article, Illustration433 1990-10-13 23 Quek Swee Peng - Quek Swee Peng expresses Shanghai artist Chen Jialing's passion for nature and his pursuit of transformation Quek Swee Peng SHANGHAI artist Chen Jialing works from nature, works with nature and nurtures nature. Flowering in the splendour of his brush strokes are his signature lotus, and azaleas,433 words
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PERSONAL FINANCE & INVESTMENT 1
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DON'T QUOTE ME!
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120 1990-10-13 24 WE HEAR Kay Hian James Capel, reeling from the disappointment of being the second company in recent memory to have its listing offer undersubscribed, is keeping its fingers crossed that history will not repeat itself. It took Van Der Horst, the trail blazer for undersubscription (October120 words
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Article181 1990-10-13 24 HI ME TAN Boon Teik's comment, by the way, may not bode well for his own company. He made that remark recently, at the closing of SPCs own public offer, which would have been undersubscribed if not for the Kuwait Investment Office applying for all181 words
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Article70 1990-10-13 24 THE poor reception for Kay Hian shares caught some people by surprise, not least the small number of people who actually applied for them. BT received a number of concerned enquiries after the result was announced. One nervous investor asked: "I applied for 5,000 shares. Do70 words
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Article102 1990-10-13 24 THERE are so many Kay Hian shares floating around looking for buyers that the joke now is that anybody who buys up the whole lot would be in a position to launch a takeover of the company. BT's own deep-throat heard the following story in RafTles Place: A102 words
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553 1990-10-13 24 Quak Hiang Whai - Quak Hiang Whai interviews Mr Christopher fPotts, a senior economist with Banque Indosuez Quak Hiang Whai ijQkTVESTORS should look fcabto two categories of bond market for bettor—turns amid the current bSEfih equities market conaccording to a senior owwemist from French bank, Indosuez.553 words
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Article, Illustration514 1990-10-13 24 Najeeb Jarhom - CHART By Najeeb Jarhom Mr Jarhom is the research manager of Fraser Roach Co THERE IS some evidence that the Singapore stock market is trying hard to ignore the sudden volatility on Wall Street and Tokyo's unpredictability and get on with its technical rally within a broad514 words
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Article, Illustration837 1990-10-13 24 Catherine Ong - Stocks are only in the first phase of the bear market, warns Dr Marc Faber. Catherine Ong compiles his views Catherine Ong EAR marWW M kets never visit by apI W pointment, ringing your front doorbell during the daylight hours. They come like a thief837 words
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Article642 1990-10-13 24 Prices {as at 11.10.90) Coiwarskn torn PI m so "Hi! liu WL^l s Amount Shm Ins* A Conv ratio Ear pric* Optional r mi •*8 A Company issutd (m units) Nib Lnstk now nlm 3Mh Mh i Ln »tk J (Me Ml nan ufe El n642 words
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Article, Illustration788 1990-10-13 25 E P Neufeld - The Canadian currency has recovered against the US dollar, but its strength does not r reflect an improved Canadian economy, writes Professor E P Neufeld E P Neufeld THE Canadian dollar has benefited from increased political tensions in the Middle East and generalised weakness in theChart by TeleTrac - 788 words
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Article678 1990-10-13 25 Jonathan Lynn - US pension funds are finding it hard to justify investments in Eastern Europe in the near future. Jonathan Lynn finds out why Jonathan Lynn Reuter US PENSION FUNDS are wary of investing in Eastern Europe in the near future, trustees and investment officers said.Reuter - 678 words
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683 1990-10-13 25 Ian Reed - While the US dollar is expected to strengthen against the mark, it looks set to plunge against the yen. Lan Reed reports O J 1 J Ian Reed Reuter The us dollar will bounce back strongly from a near bottom againstReuter - 683 words
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JOBS
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Article, Illustration873 1990-10-13 26 Eddie Sung - Eddie Sung discusses the current attitude of job seekers Eddie Sung The writer is an executive recruitment consultant handling the information technology and manufacturing sector for the PA Consulting Group in Singapore. THE employment marketplace since the mid-1980s has been engaged in a costly but amusing corporatePunch - 873 words
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Article, Illustration320 1990-10-13 26 Akihito Tanaka has been appointed deputy managing director of the Japan External Trade Organisation (Jetro) office in Singapore. He joins the Singapore team with extensive experience in various aspects of trade promotion acquired over the past 25 years with Jetro. Jack Hanson is the new general manager and320 words
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THE TRAVEL PAGE
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Article652 1990-10-13 27 CNy Flight ETA Wgt ETO QF81 2010 kmOm4m KL838 2115 SQ24 2200 GA525 1450 hlteM ***** 1105 ■r-WMl BI422 1205 0429 2030 BI430 2125 <4-*. Qf 62 1135 C(664 0750 CX713 1455 SK973 1955 Qf71 2110 CI663 2240 SK972 2135 mjmZ CA978 0930 CA957 1730 iwfcay652 words
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Article, Illustration617 1990-10-13 27 LETTER FROM INDIA yy/zz APA Publications (HK) Ltd JUST SHORT of 300 km north-east of Delhi, cradled in the foothills of the Himalaya lies the Corbett National Park. It is India's first national park and also one of her finest. This park has quite a history.APA Publications (HK) Ltd - 617 words
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Article88 1990-10-13 27 Planner Td Oct 12-16 Tokyo Pack *90 Hammi, International PO Bo* 193 Tokyo Information Japan Centre Oct 14-18 Health Care Saudi Arabia Riyadh l/*****4« Hospital, Supplies Exhibitions Co A Medical Ltd Equipment Show Oct 15-20 Stockholm Sweden Stockholm*- 8/7491/45 Technical Fair massan AB Duration Title Venue Onmaer88 words
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Article151 1990-10-13 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.4060 1.4360 Canadian dollar 1.4920 1.5120 NZ dollar 1.0600 1.0900 Sterling pound 3.3950 3.4250 US dollar 1.7250 1.7350 Local dollars to 100 anils of forapi camacy Austrian schilling 15.90 16.90151 words
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TIME OFF
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Article151 1990-10-13 28 Beisiioi Ballet The programme includes Tchaikovsky's Swan Lake IAct II), selected pieces from the Nutcraker Suite, Don Quixote, Esmeralda, Dying Swan, Spring Waters and the pas de deux from Le Corsaire Kallang Theatre, 7.30. Today and tomorrow. KaMig Angst-filled drama directed by Max Le Blond about a local family151 words
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Article, Illustration216 1990-10-13 28 K Jayanti - Compiled by K Jayanti Fine Chinese Paintings of the 19th 20th Centuries On display are more than 200 original paintings by 199 artists. Orchard Point Exhibition Hall, Sin Hua Gallery. Oct 15-21. 11am 8pm. Admission free. Transformation: Chen Jialtag An exhibition of more than 60 works of art by216 words
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Article, Illustration531 1990-10-13 28 Anetfcer 41 Hears. 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. Capitol: I lam; 1.30pm; 4; 6.30; 9.15. Changi 2:11; 1.30; 4; 7; 9.15. Republic 2: 1.30; 3.30;531 words
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Page 17 Advertisements
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Advertisement86 1990-10-13 17 a a s -JCmF wHHI fir" Available Exclusrvety SINGAPOBE: Iwlaiyi Shop-In-Shop: HAII FY'S RECENT STREET. Palais Renaissance DAiMARL SOGO jliißiiirbril Mr* LEATHER LODGE MIDORI THE HOUR GLASS Centrepolnt. Lucky Plaza. Scoas. Peninsula. Palais Renaissance. Chanßi International Further Enquiry Please Contact: BUBBEBKYS (SINGAPORE) PTE LTD, TEL: *****22. singapoke, Malaysia. Indonesia a86 words
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Page 18 Advertisements
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Advertisement101 1990-10-13 18 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and 1 f relevant book reviews. j) ENTERPRISE MANAGEMENT, in 7~\ Business Times every Monday, is must ]<. reading for managers who want the —J Npf7101 words
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Page 18 Miscellaneous
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Miscellaneous57 1990-10-13 18 DOONESBURY BY GARRY TRUDEAU S'tVEK/PAY, THISMie&ONSeeMs] "IF THERE'S ANY LESSON QtLf RSAL GOOPiNOW A LITTLE MORE POfNTIESe. I IN AIL OF THIS, ITS THAT FUEL FOR STROKE THE MEAN, I JUST CAttT SEE RISK- OUR COUNTKfS 6CHN6 TO HOOP ORNAMENT' IN6 AMERICAN LIVES TO RE- 10 FINALLY GET SERKXJS cAF557 words
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Page 19 Advertisements
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Advertisement92 1990-10-13 19 I I .S I QLjUu WRI YDS WIS I I British Open Champion 1990 Johnnie Walker Classic 1990. Do you want to be there too? World Match Champion 1990 Join such players as Nick Faldo, lan I Wcx)snam, Ronan Rafferty or other golfing greats in the Johnnie Walker Classic Pro-Am92 words
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Page 19 Miscellaneous
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Page 20 Advertisements
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Advertisement199 1990-10-13 20 union m WMIE. DUE aMD EMTEBTAIN WHEBt TO WINE, DIME AND EHTCBHIN WHERE TO WIHt, DINE Snny c£ our hest advertising is by wordof-mouth. I^iraiSi M I For outstanding haute cuisine in surroundings of unashamed opulence. The Palm Grill is the name on everyone's lips. I Reservations. *****100r 338 8585ext199 words
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Advertisement418 1990-10-13 20 If nuime&s F 1 CALIFORNIAN CUISINE \J J TOO LATE FOR BREAKFAST? TOO EARLY FOR LUNCH? rW CALIFORNIAN 1 BUFFET J BRUNCH '2m± DELIGHTFUL HOT AND COLD DISHES. A JAZZ r\flV BAND TO PUT YOU IN A MERRY MORNING *1/ MOOD. EVEN A LEGO PLAYGROUND 1 NEXT DOOR FOR THE418 words
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Advertisement267 1990-10-13 20 Have Poolside "BBQ Buffet" -Is Under the Stars! JL r Now, besides our weekend steamboat buffet is the new "all-you-can-eat" Barbeque Adult: Sl5-H- Child. S9-H- SB-H- So Sky Garden 1 Poolside where you get more than your /air share 0/ moonlight dining! 'Both buffets served from Fridays to Sundays 630267 words
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Advertisement385 1990-10-13 20 11 e4Uf j I tr> ou cpnuu I Bratwurst, Blutwurst, Weisswurst... I I K )jSj the Germans are the best at making I' Nw >/ their wurst (sausages). You'll be en- I joying just these few for we'd like I W you to leave room for more than 60 I385 words
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Page 21 Advertisements
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Advertisement219 1990-10-13 21 AND ENTEBTAIN Brunch Is A Family Affair Every Sunday. SUNDAY BRUNCH: 11AM TO 2.30PM. mam $mT j adults mm J3i.oo+ CHILDREN Every Sunday, Hubertus Grill becomes the venue for a great Sunday family outing. A scrumptious buffet spread is laid out for both grown-ups and children. jt ANA HOTEL 16219 words
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Advertisement114 1990-10-13 21 I i: 1 TnAII/A Reslatiranl and K>/IKA Karaoke Lounges FINEST RUSSIAN AND CONTINENTAL CUISINE Romantic Candlelight Dinner With Karaoke at Troika Happy Hours Daily $12.00++ One for one drinks Restaurant Hours w l j c-j 1 Karaoke Hours Mondays to Saturdays Dai/v: 1130 am to 230pm 7.00pm to 100 am114 words
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Page 22 Advertisements
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Advertisement107 1990-10-13 22 m*: '^9F- SHORT SKIRTS ARE I But how short A Hem-Raising Issue w^^BBIBSSSI BE KNOW YOUR WAY AROUND SALES Sales Dos Don'fs SHOPPING FOR THE RIGHT MATE GO Checks Out the SLIMMING Mill^ f PROGRAMMI SWEAT WHY MEN ARE WS QM#SSI AFRAID TO COMMIT I IZ^uigJag. JOHN LUI Gives You107 words
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Advertisement9 1990-10-13 22 The CD review is held over until next week9 words
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Page 24 Advertisements
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Advertisement111 1990-10-13 24 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and 1 I J relevant book reviews. (y f) ENTERPRISE MANAGEMENT, in V Business Times every Monday, is must X.*"—xreading for managers who want the —J111 words
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Page 25 Advertisements
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Advertisement44 1990-10-13 25 Great Eastern Life has over 80 years of experience and the solid back-up of assets of over $2.5 billion. M: As the leading local life insurer, we 're committed m to taking care of you, now and into the 21st century. Kj ExternLtfe i/44 words
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Advertisement185 1990-10-13 25 3.' l i"iTV^^^B^B^HV-'tt** mfitVij LET US HELP TURN YOUR IDEAS INTO ASSETS .3-*->i* I n a business, It takes ideas to move you .For years, I ahead. At Hong Leong and Singapore Finance have worked w t^^.r^ Finance, we provide the expertise and put businesses of every sire No together185 words
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Page 26 Advertisements
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Advertisement790 1990-10-13 26 DHL IN THE NEWS Advertisement DHL EXPANDS INTO INDOCHINA With rich natural nationally, DHL has set up offices service tor our outgoing docuresources and abundant supply in Cambodia, Laos, Vietnam ments since we started business of labour, Indochina has been and Myanmar. in Vietnam" said the Managing seen by foreign790 words
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Advertisement139 1990-10-13 26 jjjA ll established company in petroleum related business is looking forSales manager; executives mmmmmmmmm (2 positions) mhmmhm Duties: Marketing of products to existing customers and develop new markets. Requirements: University education preferred Maturity, integrity and good communication skill Initiative, good personality and results oriented 1-3 years salea experience operations Executives139 words
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Advertisement43 1990-10-13 27 ihtisr jk, > %»hf Ihe person* vhokc c\cr\ I uc^ij\. X T TZ&KI I/" ll U I.TI IN LL V V IV 71\JV A 1> UKAI! I Or I- IiKSH An: e V»y Air Canada Managers must manage. BT shows you how every Monday43 words
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Advertisement44 1990-10-13 27 'Oscar' winners i And they'll be coming here for the awards ceremony. That's the result of a poll among Singaporean and Malaysian Indians. Best Kamalahasan LbAI II H Best jfm The latest news and much more. actress Rathika Monday to Saturday. 111 ——»mB-—- rr44 words
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Page 27 Miscellaneous
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Miscellaneous288 1990-10-13 27 1 A ship can somehow into the river with confi8 Exhausted sportsman? j j j j j ]J|B 11 Graduate in Zaire's capi--12 Some behave neurotically the refuge (5) ~~1 H 4 I 13 Look daggers in regal fash16 Pour on cold water to lßi"""■■■KlT iH weaken the spirit (6)288 words
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Miscellaneous202 1990-10-13 27 Singapore Report (Thur) Max temp. 33.3 assoc humidity 53% min temp. 25.3* c assoc humidity 98% hrs of sunshine. 9.25 rainfall in mm Nil rainfall this mth. 1.6 rainy days this mth I World forecast Asia-Pacific Hi/Lo* Cond. Auckland 21/11 Fair Bangkok 34/27 Showers Beijing 20/09 Cloudy Brunei 32/23 Showers202 words
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Miscellaneous29 1990-10-13 27 \j&&0 rny To rncWKs I've. Do N e ftix:; UN-* STKT;ON... <^c^T€( sooKr THIS BeFoße 7; RQPiRP IWETftftW." Ta£ LfilE-LftTfe B°OK J--C EVEMNO STANDARD CO. LTD., IMM«M *T5P' ftA~«"fc29 words
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Page 28 Miscellaneous
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Miscellaneous1460 1990-10-13 28 TODAY'S TV MOVIES Savon Warriors, 10.15pm, What's worse than soaking yam tootsies all day in the field planting rice? Answer Getting the rice stolen by some dastardly bandits. It s China in the 1920s, and ti£xountry is being plagued b£l protracted civil war. A bond of renegade soldiers become bandits1,460 words
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Miscellaneous561 1990-10-13 28 MOVIES ON TV ttba My liliii te Bread teenage lust and slapstick. Street, Tae, SJtpe, SM>5 at the Saa, Wad, When ex-Beatle Paul §j§pa, SBC S McCartney makes a movie, amhltioug you can be sure itTl be a SteY^ a Spwfcetgs ambtoow about a pop rtoyt star. He plays a561 words
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