The Business Times, 3 November 1990

Microfilm: NL17137
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 Business Times MCI (P) 170/12/89 Weekend Edition, November 3-4 1990 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Dow higher
      34 1 SHARE prices yesterday opened slightly higher on Wall Street yesterday, with the Dow Jones index of 30 leading industrials gaining 0.99 points to 2,455.94 points in the first five minutes of trading
      34 words
    • Article
      Footsie lower
      45 1 LONDON stocks traded barely changed at midsession yesterday. Dealers said sterling's continued strength pulled back share prices from their lower opening, which followed Deputy Prime Minister Geoffrey Howe's resignation. The FTSE 100 share index was 1.1 point down at 2026.9 by 1316 GMT.
      45 words
    • Article
      Telecom's assurance
      29 1 MOST business phone subscribers can expect to pay less under the planned time-based system of charging calls when it is implemented next year, says Telecom Page 2
      29 words
    • Article
      CSH in joint venture
      40 1 COLD Storage Holdings has teamed up with the Jasra Group in Brunei. Its regional expansion plan also includes the set-up of a consumer food distribution company in Malaysia by the end of the year. Page 3
      40 words
    • Article
      Merger setback
      25 1 BAD news from Midland Bank pic and Hongkong and Shanghai Banking Corp could delay the planned merger between the two banks. Page 5
      25 words
    • Article
      HK's investment plans
      34 1 LEADING UP to 1997, Hongkong's government plans to invest HKsl4ob in capital works in addition to the $127b for the airport and port projects, Financial Secretary Piers Jacobs said Page 6
      34 words
    • Article
      Tough stands
      30 1 NEGOTIATORS took tough bargaining positions on Thursday before a series of meetings called to guide the faltering Uruguay Round trade talks into a crucial final phase. Page 7
      30 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 561.83 -0.78 Kuala Lumpur ....479.90 -0.56 Hongkong 2,978.92 +10.18 Tokyo 24,194.99 -100.17 Sydney —1,291.2. -11.8 Thursday Change New York 2,454.95 +12.63 London 2,028.0 -22.3
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    • Article
      COMMODITIES
      20 1 Exchange rates US$ S$ 1.7055 Yen SS 1.3211 MS. SS0.63I5 Money market rates Overnight 6-5/8 -1/8 3-month 6-9/16% unch
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    • Article
      CURRENCIES
      35 1 London Gold AM fix US$379.75 -US$0.35 Rubber S'poreDec... 152.50*/kg -0.75 M'sia Dec 239.00»/kg unch KL Tin Turnover 20 tonnes -7 Spot MS16 40/kg -8 Crude palm oil Turnover 2,041 lols +1,140 Nov M$754/tonne +14
      35 words
  • Article
    Fuji Xerox in a deal to set up regional HQ here
    418 1  -  By Sangeeta Mulchand FUJI XEROX, a joint-ven-ture between Fuji Photo Film and Rank Xerox, has made a US$4lO million deal with Rank Xerox that will result in the formation of a new company with regional headquarters in Singapore. The
    418 words
  • Article, Illustration
    Lock icon UK policy unchanged
    88 1 AFP THE British government's policy towards the European Community (EC) is "clear" and there will be no change, Chancellor of the Exchequer John Major said in London yesterday in response to the unexpected resignation on Thursday of Deputy Prime Minister Sir Geoffrey Howe. Sir Geoffrey resigned because
    AFP  -  88 words
  • Article
    DBS Bank gets branch licence in Hongkong
    278 1  -  From Catherine Ong in HONGKONG SINGAPORE'S DBS Bank has been granted a banking liccnce in Hongkong, the Hongkong government announced yesterday. This means the bank can now offer a whole range of banking services, including current and savings accounts and treasury. It has
    278 words
  • Article
    Lock icon Bush tones down war rhetoric while Iraq talks of all-out war
    310 1 The Gulf Crisis Agencies IRAQ threatened all-out war in the Gulf if allied forces tried to drive it out of Kuwait while US President George Bush toned down his war rhetoric yesterday, emphasising that he is prepared to accept
    Agencies  -  310 words
  • Article
    Textile and garment makers may have overbid for quotas
    426 1  -  b* John Tan LOCAL textile and garment makers paid a total of $42 million for the textile quotas on tender in the 12 months to October this year, according to the Trade and Development Board. This compares with the $31 million
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  • Article
    Lock icon US economic index down in September
    234 1 Reuter THE United States government's main forecasting gauge for the economy's future dropped for a second straight month in September, the Commerce Department said, hurt by lower stock priccs and weaker consumer demand. The Index of Leading Indicators fell 0.8 per cent after declining
    Reuter  -  234 words
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Apology to Thai Ambassador
        57 2 THE AMERICAN EMBASSY yesterday apologised to the Thai Ambassador to Singapore about an incident that occurred on Oct 27, when a junior-enlisted sailor from the USS Schenectady broke into the ambassador's residence. Ambassador Asad Jayanama has since returned to Bangkok on completion of his term of
        57 words
      • Article
        German travel agents meet
        82 2 ABOUT 1,500 German delegates from the travel industry will convene here next Monday for the opening of the 40th Annual Convention of the Deutscher Reisebuero Verband. The Association of German Travel Agents' conference will be opened by Singapore's Minister of State for Trade and Industry Mah
        82 words
      • Article
        Corrections and clarifications
        68 2 IN YESTERDAY'S BT story entitled "Wing Tai to give Park Mall podium a $40m touch of class", it was reported that marketing agent Richard Ellis said the monthly rent for the anchor tenant retail space would be pitched at about $50 per sq m. This figure was
        68 words
    • Article
      Tradewinds takes 2.5 pc stake in Abacus
      194 2 TRADEWINDS, the fastexpanding subsidiary of Singapore Airlines, has become the eighth partner in Abacus, the Asia-Pacific computerised airline reservation system (CRS). Singapore-based Abacus Distribution Systems yesterday said Tradewinds had taken a 2.5 per cent equity stake in the company, which operates the US$l3O
      194 words
    • Article
      Telecom allays businessmen's fears
      344 2  -  Heavy users will see at most a 40pc rise in phone bills By Dexter Lee MOST BUSINESS phone subscribers will pay less under the planned time-based system of charging calls when it is implemented next year, according to Singapore Telecom. Pegged at 1.5 cents per minute,
      344 words
    • Article, Illustration
      Economist calls for more focus on white-collar productivity
      326 2  -  By Schutz Lee WHITE-COLLAR productivity must get more attention if Singapore is to achieve an annual national productivity growth rate of 4 per cent, in the view of economist Lester Thurow. It is not enough to focus on improving manufacturing productivity, Professor
      326 words
    • Article
      Clean and Green Week gets a lift from private sector
      195 2 ABOUT 30 companies are involved in various promotional activities in the Clean and Green Week, which begins tomorrow. Three oil companies are sponsoring educational video and books for school children. A paint maker and various banks are producing pamphlets and
      195 words
    • Article
      Lectures on cell biology
      60 2 FOUR SCIENTISTS from the UK will be in Singapore to deliver a series of lectures on molecular and cell biology from Nov 12 to 16. The series will include a talk on how mass-based genetic screening can be done inexpensively to identify why some people succumb
      60 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      500 2 Vend Woy Hi toft fcrtal Departs Vessel toy W» toft Antal toparfcn Keppet Wharves Jurong Port Ate Trust 24C8 CIO alongside 02.11/1800 Algenib J12 alongside 03.11/1300 Bayswaterll8 ****** K30 alongside 02.11/1400 Baiong Permai I )2 atongsrfe 0311/1500 Continent 1 9/90 K29 alongside 05.11/1500 Bonggaya No 3 J2
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    • Article
      CONTAINER SCHEDULE
      1180 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Bookin/Babnce Rstts Ship Voy No Etb/Btr Period From To From Ac* Uy 38 05/0800 2 Cancelled 3 02/0700 02/1159 02/1400 4 02/1200 02/1459 02/1700 Am Bhum 65S 04/0645 3 Cancelled 4 02/1200 02/1459 02/1700 Ai Mtrqab 51 04/0700 3
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Cold Storage takes 50pc stake in Jasra Harrisons
      303 3  -  By Shoeb Kagda COLD Storage Holdings (CSH) has entered into a joint-venture agreement with the Jasra Group in Brunei, thus furthering its regional expansion plans. Under the agreement, CSH has acquired from Jasra Sdn Bhd a 50 per cent stake in Jasra
      303 words
    • Article
      Lock icon Prudential poised to expand investments in Malaysia
      282 3 Bernama MALAYSIA can expect a greater inflow of pension funds from the US into its stock market as well as in the form of direct investments in local companies with the setting up of a Malaysian representative office by Prudential Asia Investments Ltd,
      Bernama  -  282 words
    • Article, Illustration
      SES calls for international rules to regulate markets
      307 3 THE PRESIDENT of the Stock Exchange of Singapore yesterday called for an international regulatory framework to address the wide disparity in global market regulations. In his spccch at a symposium yesterday, Mr Lim Choo Peng said the need for international regulation is
      307 words
    • Article
      Inno-Pac explains why it bought Sia's stake
      220 3 INNO-Pacific Holdings, which earlier this week announced it had acquired 26.3 per cent of Hongkong-listed Lucky Man Properties, yesterday explained why it bought Lucky Man shares from Causeway Investment director Sia Leng Yuen even though Mr Sia had rejected its request for a
      220 words
    • Article
      Inno-Pac to increase Shakey's outlets
      168 3 THE Inno-Pacific Holdings group, which holds the franchise for Shakey's Pizza worldwide, except in Japan, is planning to set up Shakey's restaurants in China and Europe, as well as new outlets in existing markets. However, the group's expansion plans will depend on international developments arising
      168 words
    • Article
      Warrants: premiums and gearing
      662 3 Prices (asat 1.11.90) Conversion terms Premium/ (discount) Expiry Amount issued Wrts Share Ln stk (VAT Option lal" using Company (m units) Conv tACi price Lnstk Cash Cash* Lnstk 2 Gearing 4 Date Mth ratio nom value bff CACWt 37.5 1.000 1.00 3.09 17 3.50 264.93 2S
      662 words
    • Article
      Genting aims to beef up non-gaming activities
      501 3  -  By William Chia THE GENTING GROUP, which derives more than 80 per ccnt of its earnings from operating the only casino resort in Malaysia, wants to build a more balanced portfolio by beefing up its nongaming activities. A company spokesman told BT recently
      501 words
    • COMPANY BRIEFS
      • Article
        Electro Magnetic gets more time
        37 3 ELECTRO MAGNETIC (S) said the Stock Exchange of Singapore had allowed it to extend the announcement of its preliminary results for the financial year ended July 31, 1990 till Nov 5, 1990.
        37 words
      • Article
        Causeway reduces capital
        89 3 CAUSEWAY INVESTMENT said the High Court of Singapore sanctioned yesterday its capital reduction scheme to reduce the par value of its shares from $1 to 60 cents each. The share transfer book and the register of members will be closed at spm on Nov 22 till Nov
        89 words
      • Article
        Proton plans listing
        54 3 PERUSAHAAN Otomobil Nasional Sdn Bhd (Proton), the manufacturer of the Malaysian car, has appointed Bumiputra Merchant Bankers Bhd to carry out a feasibility study on its plans to go public. Its managing director Kenji Iwabuchi said yesterday Proton hoped to list its shares on the Kuala Lumpur
        54 words
      • Article
        MAS to buy more aircraft
        91 3 MALAYSIA Airlines (MAS) yesterday signed orders for 10 Boeing 8737-400 Twinjets, two Airbus A 330-300 and one Fokker 50, costing a total of Msl.7 billion. MAS managing director Tan Sri Abdul Aziz Abdul Rahman said the agreement with Boeing was for conversion of 10 of
        91 words
      • Article
        Argos appoints chief executive
        31 3 MR CLIFFORD Thew has joined Argos Engineering as director and chief executive. Argos is a member of the Chung Wah Shipbuilding and Engineering (Holdings) group in Hongkong.
        31 words
      • Article
        Heng has 108,000 FCC shares
        29 3 FIRST Capital Corporation's group managing director Heng Chiang Meng said he had 108,000 shares in the company, registered in the name of Calm Investments.
        29 words
      • Article
        Keppel reduces stake
        33 3 KEPPEL CORPORATION has reduced its stake in Straits Steamship Land from 69.64 per cent to 69.29 per cent through the sale of 977,000 shares for 1.98 million on Aug 31.
        33 words
      • Article
        Citicorp raises share
        31 3 CITICORP INVESTMENT has raised its stake in Sembawang Maritime from 35.54 per cent to 35.59 per cent through the purchase of 35,000 shares for $116,815.32 on May 10.
        31 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      88 3 FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look at
      88 words
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  • COMPANY NEWS
    • Article, Illustration
      Thai Airways to be listed on SET by January
      537 4 THAI AIRWAYS will be listed on the Thai stock exchange by January, said The Nation in Bangkok on Wednesday. Thamnoon Wanglee, vicepresident (finance) said the stage had been set for the airline to go public following Tuesday's approval by the board
      537 words
    • Article
      Lock icon Mitsubishi and Volvo agree on European tie-up: report
      278 4 UPI MITSUBISHI Motors Corp and Swedish carmaker Volvo have agreed to launch a joint venture in the Netherlands to manufacture subcompact passenger cars from 1993, Japan's leading economic journal Nikon Keizai Shimbun reported yesterday. The daily said the agreement was reached at
      UPI  -  278 words
    • Article
      Lock icon Macy to sell up to US$ 150m of its equity to repay debt
      339 4 NYT AMERICAN retailer R H Macy Co, seeking to repay its debt, said it planned to sell up to US$l5O million of its equity to its outside investors. Four large investors have agreed to buy about US$lOO
      NYT  -  339 words
    • Article
      Lock icon MGM/UA purchase completed
      363 4 UPI PATHE Communications' oft-delayed US$ 1.36-billion purchase of MGM/UA was completed on Thursday in the latest foreign acquisition of a major Hollywood studio. Ending months of scepticism that the transaction would ever be finalised, the companies said the new entity would be known as MGMPathe Communications Co.
      UPI  -  363 words
    • Article
      Lock icon NYCOR may make takeover bid for Zenith
      354 4 Reuter ZENITH Electronics Corp, once the leading maker of television sets in the US, could find itself in a bargainbasement takeover battle, analysts say. NYCOR Inc disclosed on Wednesday that it owns an 8.2 per cent stake in Zenith and is considering acquiring
      Reuter  -  354 words
    • Article
      Late pay for 3,000 staff of Nadir publications
      497 4 ABOUT 3,000 employees of publications owned personally by Asil Nadir, former chairman of the failed Polly Peck International company, will not receive their October pay before the end of the first week in November, a well-in-formed source said in Turkey on Thursday.
      497 words
    • Article
      Lock icon Trump Taj restructuring deal likely to fall through
      289 4 Reuter A RESTRUCTURING deal that would save Trump Taj Mahal, a unit of The Trump Organisation, from defaulting on its U5547.3 million in interest payments due on Nov 15, is likely to fall through, analysts in New York said. "The next key
      Reuter  -  289 words
    • COMPANY BRIEFS
      • Article
        Ssangyong to boost jeep production
        81 4 SSANGYONG Motor Co, part of South Korea's big Ssangyong Group, plans to increase its annual jeep production capacity to 100,000 units from the current 30,000 starting in 1993, a Ssangyong spokesman said in Seoul. The company, which makes jeeps, trucks and buses, will invest a
        81 words
      • Article
        Thai-British plan to seek oil
        96 4 A BRITISH oil firm signed an agreement with a Thai state-enterprise on Thursday to jointly invest in oil exploration and production in the Gulf of Thailand, Thai government officials said. The agreement was signed between PTT Expjoration and Production Co Ltd, a subsidiary of the
        96 words
      • Article
        Du Pont-Teijin joint venture
        69 4 DU PONT Electronics and Teijin Limited of Japan have signed a letter of intent to enter into a joint venture to manufacture and sell polyester film. The deal is expected to generate worldwide sales of more than US$l3O million in 1991. Production will be from Du
        69 words
      • Article
        Glaxo plans loan stock
        87 4 GLAXO Holdings pic said it intends to issue 20 billion yen of convertible loan stock following its filing of a shelf registration statement with the Ministry of Finance in Japan on Thursday. The company said in London that the shelf registration statement, when effective, will, subject
        87 words
      • Article
        Goldstar wins Soviet contracts
        42 4 GOLDSTAR Co Ltd has signed five contracts worth a total of US$769 million to provide equipment for producing electronic products in the Soviet Union, a Goldstar spokesman said in Seoul. The contracts were signed in September and October.
        42 words
      • Article
        Queries over share price plunge
        94 4 THE Australian Stock Exchange has queried the plunge in share prices of retailer David Jones Ltd and alcohol distributor Tooth and Co Ltd, both part of the Adelaide Steamship Co Ltd group. Tooth and Co shares slumped to As 2 yesterday after falling from A
        94 words
      • Article
        Japanese footwork in Berlin
        58 4 FOOTWORK International, a Japanese parcel delivery company, said it is buying a majority stake in the five-star Steigenberger hotel in Berlin for about 10 billion yen (U5575 million). The Osaka-based firm plans to purchase the rest of Steigenbcrgcr's shares over the next two or three years
        58 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      83 4 FOR BITS AND BYTES^ Geared to keep the busy business executive abreast of new technologies he can exploit to full advantage, INNOVATION TECHNOLOGY page provides news, reviews and features in the areas of information technology, biotechnology, electronics and just about everything high-tech. Although its primary focus is on local news,
      83 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon Midland, Hongkong Bank run into merger setback
      632 5 Reuter BAD NEWS this week from Midland Bank pic and Hongkong and Shanghai Banking Corp could throw back the timetable for an expected merger between the two banks, analysts say. Midland said on Monday it had failed to find a buyer for its
      Reuter  -  632 words
    • Article, Illustration
      Long-term bearish outlook intact
      499 5 In its weekly technical analysis, DBS Bank looks at the likely route the greenback will take US$/mark: US dollar heading south LAST week's bull divergences in the weekly Stochastics and RSI propelled the US dollar to a high of 1.5280 marks, almost reaching the 38.2 per
      499 words
    • Article
      Lock icon Board agrees to plan to keep bailout going
      212 5 Reuter THE US Oversight Board, overseeing the savings and loan industry bailout, has approved a temporary plan allowing the Resolution Trust Corp (RTC) to borrow working capital to keep the rescue running. "The Oversight Board's action today is intended to keep the
      Reuter  -  212 words
    • Article
      Lock icon More apartment loan losses expected
      263 5 Reuter THE Federal Home Loan Mortgage Coip's third quarter, USsBl-million-chargc-off of apartment loan losses will not be the last, Chairman Leland Brendscl said. Mr Brendscl would not estimate the size of future losses and declined comment on analysts' estimates of losses in the fourth quarter
      Reuter  -  263 words
    • Article
      Lock icon Tokyo insurers unlikely to put new fluids in European stocks
      488 5 Reuter JAPAN'S life insurers, the world's leading institutional investors, are unlikely to put new money into the European securities markets until their new financial year begins on April 1, 1991, industry sources in London said. Their attention will focus on
      Reuter  -  488 words
    • SMALL CHANGE
      • Article
        Deutsche Bank keeps cool
        88 5 DEUTSCHE Bank AG's profits in the current year ending Dec 31, 1990, arc not a matter of worry, said Hilmar Kopper, who as speaker of the bank's management board carries out the duties of chairman. Mr Kopper declined to speculate on results for the whole year,
        88 words
      • Article
        Sanwa cuts income forecast
        89 5 SANWA Bank Ltd said it cut its consolidated net income forecast for the year to March 31, 1991, to 130 billion yen from 160 billion and its unconsolidated net income forecast to 135 billion from 165 billion. In a statement issued through the London Stock Exchange,
        89 words
      • Article
        Citicorp preferred set at 13pc
        99 5 THE rate on an auction of a US$lOO million 49-day series 5B of Citicorp's money market preferred stock was set at 13.0 per cent, compared with 12.5 per cent on an auction on similar paper on Monday, lead manager Lehman Brothers Tnc said. The rate
        99 words
      • Article
        Former Merrill VPs charged
        48 5 TWO former Merrill Lynch and Co Inc vice presidents, Albert Young, 61 and John Serino Jr, 41, were chained for their role in a scheme to demand payoffs from contractors who built the brokerage firm's headquarters at Manhattan's World Financial Centre, federal prosecutors said.
        48 words
    • Article
      Lock icon Funds sought from Lloyd's litigants
      178 5 Reuter A GROUP of some 880 Lloyd's insurance market investors who are suing syndicates led by Outhwaite Underwriting Agencies for negligence are to be asked to commit funds to cover next October's trial costs. Peter Nutting, chairman of trie association of investors in the syndicates,
      Reuter  -  178 words
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      33 5 "g 5 AMIR G SONS K5 tr AQijiifin #03-01 Lucky Plaza, 304 Orchard Road, Singapore 0923. RUMANIAN IV^" IV,IK Tel: *****83 *****12. Fax: *****35. (Silk) WEEKDAYS: 10am 7pm SATURDAYS: 10am Bpm SUNDAYS CLOSED
      33 words
  • Page 5 Miscellaneous
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  • THE REGION
    • Article, Illustration
      HK plans HK$ 140b in capital projects
      459 6 A few years of deficits ahead, but 'comfortable' reserve by 1997 LEADING up to 1997, Hongkong's government plans to invest HK$l4O billion in capital works in addition to the HKSI27 billion for the airport and port projects, Financial Secretary Piers Jacobs has said.
      459 words
    • Article
      Lock icon Indonesia ups oil output projection but contractors sceptical
      381 6 Reuter INDONESIA raised its crude oil output projections for November to 1.387 million barrels per day from 1.375 million, but contractors said it was unlikely to make the target. Mines and Energy Minister Ginanjar Kartasasmita, speaking in Jakarta after traders in New
      Reuter  -  381 words
    • Article, Illustration
      Lock icon Ministry will ensure quality M'sian goods
      322 6 Bernama ONE OF the main objectives of the Ministry of International Trade and Industry will be to ensure that made-in-Malaysia products are synonymous with high quality, its minister. Datuk Seri Rafidah Aziz, said on Thursday. Addressing a news conference to outline the objectives and
      Bernama  -  322 words
    • Article
      Lock icon Jakarta confident of not being anti-timber target
      159 6 Bernama INDONESIA, the world's second largest timber producer after Brazil with 143 million hectares of rain forests, is no more a likely target of anti-tropical timber trade campaigns launched by Western environmentalists, an official has claimed. Chairman of Indonesia's timber industry community, Bob
      Bernama  -  159 words
    • NOTE BOOK
      • Article
        Myanmar grants 2,070 trading licences
        73 6 MYANMAR's military government has granted 2,070 private trading licences since it introduced an open-door economic system in November 1988. official Radio Rangoon said on Thursday. That included 622 export and 1.448 import licences. the radio said in a broadcast monitored in Bangkok. It said 535
        73 words
      • Article
        Jakarta receives 1.8b yen grant
        75 6 INDONESIA yesterday received 1.85 billion yen in grant aid from the Japanese government to help promote food production in the country. Officials said the grant would be used for procuring agricultural machinery, equipment and pesticide in the production of staple food crops such as rice,
        75 words
      • Article
        US open on future of bases
        95 6 TALKS on the future of US bases in the Philippines resume in Manila next week, with US officials saying they are prepared to look at the latest Philippine proposals "with an open mind". For security reasons, both sides would not give an exact date
        95 words
      • Article
        Aussie deficit narrows
        120 6 AUSTRALIA'S unadjusted current account deficit narrowed to A$ 1.51 billion in September, the Bureau of Statistics announced on Thursday Revised figures showed the deficit for August was A 51.89 billion and in September last year, AS 1.90 billion. The unadjusted September merchandise trade balance showed a surplus
        120 words
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      Page 6 Advertisements Column 1
      227 6 Welcome to a different point-of-view Wfl f \ssss u H mS mm ttlvhl -Jbi 335 33s ■K mmmm tnl*//' SSSBS The Bay view Pacific Beach Resort, Penang, is now open... At the Bayview Pacific, we believe in looking at things a litde differently. Examining every little detail, from every point-of-view,
      227 words
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      Page 6 Advertisements Column 2
      65 6 A new, compact, twice-a-year, full-colour digest for the business traveller... This is VIETNAM Features How to Do Business Travel Tips Maps Hundreds of Business Contacts US$2O US$3 post♦ packaging (Payable to This is Vietnam.) AMEX accepted Fax orders: (852) 845-2986 This is Vietnam. #3201 Bank of America Building, 12 Harcourt
      65 words
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  • THE WORLD
    • Article, Illustration
      Lock icon British deputy premier quits over Thatcher's policy on EC
      589 7 Struggle for party leadership in the offing, say analysts Reuter BRITISH Prime Minister Margaret Thatcher's implacable refusal to yield British sovereignty to the European Community has sparked the shock resignation of her deputy, Sir Geoffrey Howe. Britain's Deputy Prime Minister quit
      Reuter; Reuter picture  -  589 words
    • Article, Illustration
      Lock icon Delegates get tough ahead of the finale
      584 7 Farm subsidy issue may block road to Uruguay Reuter NEGOTIATORS took tough bargaining positions on Thursday before a series of meetings called to guide the faltering Uruguay Round trade talks into a crucial final phase. Contrasting comments by delegates reflected doubt and uncertainty
      Reuter  -  584 words
    • Article
      Lock icon Bush keeps farmers guessing over farm credits
      362 7 Reuter THE multimillion-dollar question in US grain and farm circles these days is: When will President George Bush give agricultural credits to the Soviet Union to help it import much-needed American commodities? For weeks, rumours on the subject have pervaded Midwestern grain markets,
      Reuter  -  362 words
    • Article
      Lock icon Israel has failed to protect Palestinians: Cuellar
      555 7 The Gulf Crisis AP THE UN secretary-general declared on Thursday that Israel had failed to protect Palestinians in the occupied lands and suggested a 164-na-tion meeting on ways to protect them under international law. But Javier Perez de Cuellar did not make any
      AP  -  555 words
    • Article
      Lock icon Saddam hears Bush loud and unclear
      395 7 Reuter PRESIDENT George Bush has stepped up the rhetoric in the past few days over the Gulf crisis but the message to Iraq may still not be coming over leud and clear. In one of his toughest statements since Iraq invaded Kuwait on Aug
      Reuter  -  395 words
    • WORLD WATCH
      • Article
        Polish bourse set to open next June
        72 7 POLAND HAS SET June 1, 1991, as the date for starting up a stripped-down version of a stock exchange. Speaking at a conference on business in Poland, Wieslaw Rozlucki, director of capital markets development for the Ministry of Ownership Transformation, said the exchange,
        72 words
      • Article
        Security Council's new members
        55 7 THE UN GENERAL ASSEMBLY has elected five new countries to the Security Council, but they are not expected to change the council's overwhelming support for sanctions against Iraq. The newcomers Austria, Belgium, Ecuador, India and Zimbabwe will replace the five members whose two-year terms expire at
        55 words
      • Article
        More business failures in US
        66 7 BUSINESS FAILURES rose by 14.5 per cent in America in the first nine months of 1990, accelerated by economic turmoil in New England and the Middle Atlantic states, Dun and Bradstreet Corp said on Thursday. The study by the business information company found that combined
        66 words
      • Article
        Moscow asks Tokyo for aid
        59 7 THE SOVIET UNION has asked Japan for medical supplies, consumer goods and food as emergency aid to help get through a period of economic stagnation. A Soviet diplomatic source said on Thursday: "The economy of our country is in a transitional period under perestroika and
        59 words
      • Article
        Chinese pensions
        44 7 CHINA'S deficit-ridden government will soon require workers in state-owned factories to contribute towards their pensions for the first time since the communists took power 41 years ago. The change was awaiting approval by the State Council, the official China Daily said yesterday.
        44 words
    • Article
      Lock icon Day of reckoning as Romania lifts price controls
      386 7 Reuter TEN MONTHS after popular revolt ended communist rule, Romanians faced their first free-market shocks on Thursday as the government lifted price controls and devalued the national currency. Nov I was the date decided for the prices on everything except staple foods,
      Reuter  -  386 words
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      Page 7 Advertisements Column 1
      126 7 FOR THE NEWS w COMPANIES MAKE Companies make news because they make profits or losses for you. The Business Times' COMPANIES NEWS pages are very widely read. We reveal the latest deals in Singapore and the region, profile the movers and shakers behind them and summarise corporate events in the
      126 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Bargain hunting helps market to trim losses
      4567 8  -  By William Chia SHARE PRICES closed mixed yesterday, with the emergence of some bargain hunting in the afternoon for selected stocks, after falling for most of the day. Large falls in a few index-component stocks pushed the Straits Times Industrials Index down 2.58
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4220 9 Main Board PM Hldgs 250 +30 +13.6% SIA 200 1040 20 2.0% SIA 1010 +10 +10% FAN 685 +10 +1.5% NatSteel 650 +10 +1.6% Spore Bus 500 492 +10 +2.1% Haw Par 215 7 +3.4% Parkway H 50* 143 6 4.4% OCBC 705 +5 +0.7%
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Oil palm counters shine in a dull market
      3833 10 Bernama SHARE PRICES in Kuala Lumpur closcd slightly higher in dull trading yesterday after a late-afternoon rally which, however, failed to be sustained. The KLSE Composite Index recovered from a low of 476.43 to close at 479.90, just 0.56 points down, while
      Bernama  -  3,833 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      45 10 1990 MCI(P) WHAT IS NORMAL SEX? M for him. jr e^^hP^ FROM A HOT FAVOURITE Available at Times tf>e Bookshops. Guardian. 7 Eleven. Newsstands and from your A membe' o' the 3T Aud«i Bureau oi Circulations (Australia) and RICS Media Circulations Services (S) P:e Ltd
      45 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Prices ease as investors keep their distance
      2224 11 Reuter TOKYO stocks closed lower yesterday after a day of volatility caused by active futures arbi-trage-related trading in thin volume. Brokers said the underlying cash market was basically dull, with investors sidelined by concerns over the Mideast crisis and a US Treasury auction
      Reuter  -  2,224 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Bargain-hunters put prices in plus territory
      2311 11 Reuter BARGAIN-HUNTERS cashing in on a severely oversold market lifted Hongkong stocks out of their morning weakness, driving the Hang Seng index up to close higher, brokers said. "There's been some bargain-hunting around on speculative second and third liners and Hong Kong Bank attracted
      Reuter  -  2,311 words
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  • REGIONAL STOCK MARKETS
    • Australian market in jitters over Adsteam
      • Article
        AUSTRALIA
        989 12 AUSTRALIAN shares closed sharply lower yesterday, hovering around a 32month low as the market focused on the plunge in the price of Adsteam and associated companies. Brokers said attention was rarely diverted from Adsteam and its affiliated companies, which have a combined debt of $7 billion. "People are very
        989 words
      • Article
        SEOUL
        787 12 SEOUL stocks rallied for the second straight day yesterday, riding Thursday's buying euphoria, with financial stocks leading the gains, brokers said. In what brokers saw as mainly a technical rebound, the index rose 6.29 points to 723.76 in active early trade. Just over 14.2 million shares changed hands against
        787 words
      • Article
        TAIPEI
        334 12 TAIPEI stocks declined at the opening yesterday but finished off their lows on late institutional buying, dealers said. The weighted index lost 37.02 points, or 1.2 per cent, to close at 3,102.86 compared with Thursday's 3,139.88 finish. Turnover was NT526.2 billion against Thursday's $25.1 billion. Taipei NTS 1st Sec
        334 words
      • Article
        JAKARTA
        600 12 PRICES on the Jakarta stock exchange closed mixed in thin trade yesterday, brokers said. The Composite Index rose 3.39 points to 419.73, with 1.43 million shares changing hands. Marine services company Rig Tenders and nickel firm Inco were the most traded on the regular market at 209,000 and 112,000
        600 words
      • Article
        NEW ZEALAND
        359 12 NEW ZEALAND shares ended at their lowest level in almost six years yester- day on reports that Brierley Investments may have overcommitted itself in its bid for UK Hotel group, Mt Charlotte. "Unfortunate press about certain stocks helped push the market lower," one broker said in reference to
        359 words
      • Article
        MANILA
        467 12 PHILIPPINE shares closed mostly lower on the fust trading day yesterday after Wednesday's de facto devaluation of the peso, with traders nervously guessing the next Central Bank move,, brokers said. The market was closed on Thursday for a holiday. The Manila Stock Exchange Composite Index closed at 599.74 points,
        467 words
      • Article
        BANGKOK
        594 12 SHARE prices moved up slightly on the Thai stock market yesterday. The SET Index rose 4.22 points to close at 657.43, up 0.65 per cent from Thursday's dose. Trading volume was 1,531 million baht, 152 million baht less than Thursday's. Bangkok Baht VoKW) Alucon 570 I American Standa Asia
        594 words
      • Article
        BOMBAY
        53 12 BOMBAY share prices rallied on Thursday ahead of a three-day weekend holiday as the market set aside worries over the crisis faced by Prime Minister Vishwanath Pratap Singh's government and saw active buying, brokers said. The Bombay Stock Exchange index rose 27.81 points to 1,323.02. The National Index firmed
        53 words
      • Article
        Untitled
        441 12 Close Previous No* 2 SYDNEY All Ordinaries Index 1.291.2 1,303.0 -11.8 All Industrials Index 1.912.2 1.938.0 -25.8 All Resources Index 806.0 808.0 -2.0 Turnover (million) 86.39 67.09 +19.3 BANGKOK SEr Index 657.43 653.21 +4.22 Turnover (million) 1,531 1,683 -152 JAKARTA Composite Index 419.73 416.34 +3.39 Turnover (nearest'000) 1.430 NA MANILA
        441 words
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  • New York firms as oil prices stabilise
    • Article, Illustration
      NEW YORK
      1095 13 WALL STREET gained a little ground on Thursday, profiting from stabilising oil prices despite a slow start clouded by investor concerns over the health of the US economy. The Dow Jones average of 30 leading industrials closed up 12.63 points or 0.52 per cent, at 2,454.95 points. About
      1,095 words
    • Article, Illustration
      LONDON
      801 13 LONDON share prices finished a choppy session lower on Thursday, hurt by receding chances of an interest rate cut. The Treasury and the Bank of England said that a cut in the 14 per cent base rate wasn't currently appropriate. News that the Deutsche Bundesbank raised its key lending
      801 words
    • Article
      AMSTERDAM
      373 13 A LOWER dollar, fears of a Gulf conflict coming closer, and this week's rash of company results as dismal as expected kept Dutch shares lower in lethargic trade at midsession yesterday, dealers said. The CBS General Tendency Index was at 94.5, down 2.5 points, but trade was very thin
      373 words
    • Article
      PARIS
      264 13 FRENCH share prices idled lower at midscssion yesterday in very quiet trade, with many operators turning Thursday's holiday into a long weekend, dealers said. The CAC-40 index stood 16.06 points or 0.98 per cent lower at 1,629.51 at 1133 GMT, hardly changed from its opening of 1,630.06. Investors were
      264 words
    • Article
      ZURICH
      361 13 SWISS shares were a touch higher at midscssion yesterday in lacklustre trading as selective small buying helped share prices after a slightly lower opening, dealers said. The SMI index of leading shares rose 2.4 points to 1,393.10 and the all-share SPI index was 2.5 points up at 912.5 after
      361 words
    • Article
      JOHANNESBURG
      384 13 JOHANNESBURG share prices were drifting aimlessly yesterday in slack trading ahead of the weekend, hovering narrowly around Thursday's easier levels in an uncertain and nervous market, dealers said. At 10.15 the JSE all-gold index was unchanged from Thursday's 1398 close, while the industrial and all-share indices were barely altered
      384 words
    • Article
      TORONTO
      307 13 TORONTO stocks closed unchanged on Thursday in lacklustre trading after recovering from an early dip due to nervousness over the Gulf crisis and third quarter earnings, dealers said. Strength in gold, oil and pipeline shares led the recovery, they added. The composite index rose 3.7 to 3,085.0 on volume
      307 words
    • Article
      STOCKHOLM
      124 13 PRICES on the Stockholm bourse closed the week at a year-low in very light trade, with most investors absent from the shortened holiday session. The bourse's general index was down 0.71 per cent at 882.36 for its fourth consecutive year-low, while the index of 16 leading shares fell 0.17
      124 words
    • Article
      Untitled
      378 13 Nov I low PrctiotB NEW YORK IXtw Jones 2.***** 2.442.33 H2.63 NYSE Financial 105.22. 103.73 H.49 SAP 500 307.02 304 00 f 3 02 Turnover (million) 159 156.1 f2.9 LONDON Financial Times 30 1.572.1 1.592.91 -208 l-TSE 100 2.02* 0 2.050 72 -22.3 Turnover (million) 373.7 384.7 AMSTERDAM C BS
      378 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Howe's resignation takes sterling down more than a pfennig
      1218 14 FOREX MARKET REPORTS STERLING yesterday opened sharply down in European trading, losing more than one pfennig against the Deutschemark, in reaction to the unexpected resignation of Deputy Prime Minister Sir Geoffrey Howe on Thursday. Sterling was trading at 2.9287 marks during
      1,218 words
    • Article
      INTERBANK FOREX RATES
      386 14 Cross rates Nov; uss SS MS Dm Yen SFr AS NZS us$ 1 1.7050 2.6995 1.5005 129.50 0.5137 1.2700 1.2780 1.5515 ss 0.5865 1.5833 0.8801 0.7595 0.3013 ——H 0.7449 B 0.9686 MS 0.3704 63.16 0.4797 0.4705 0.4734 0.6118 Dm 0.6664 1.1363 1.7991 86.30 0.3424 0.8464 0.8517 1.1007
      386 words
    • Article
      MONEY MARKET
      629 14 Interbank rates ss Hid Offer Overnight 6 5/8 1-month 6 9/16 2-month 6 9/16 3-month 6 9/16 Overnight mode: 6-9/16 6 3/4 6 11/16 6 11/16 6 11/16 LSS Bid m 7 days 8 jfi 1 month 2 months 3 months 6 months 9 months 12 months 7
      629 words
    • Article
      Lock icon UK rates will still be cut before year-end: analysts
      369 14 Reuter A MOVE by the Treasury and the Bank of England to quash speculation about an imminent cut in UK interest rates was apparently aimed at bolstering sterling at a time when the government's tough monetary stance was being questioned by
      Reuter  -  369 words
    • Article
      Lock icon UK councils' swap deals deemed illegal
      218 14 Reuter INTEREST rate swap deals undertaken by UK local councils with banks arc provisionally viewed as illegal by the Law Lords, a spokesman for the banks involved said. The House of Lords' judicial committee wrote to various parties in the case saying it provisionally
      Reuter  -  218 words
    • Article
      FINANCIAL FUTURES
      1224 14 i EX EURODOLLAR Open High Low Sett Est Vol Op/lnt Vol Dcc 90 92.13 92.17 92.12 92.16 6041 ***** 5672 Mar 9 1 92.38 92.38 92.36 92.38 7000 9095 5690 Jun 91 1 92.33 92.34 92.32 92.34 2300 4115 559 Sep 91 1 92.16 92.16 92.14 92.16 750
      1,224 words
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  • COMMODITIES
    • Article
      Lock icon Oil futures closure would cripple Nymex: traders
      388 15 Reuter ANY ATTEMPT to shut down US oil futures markets in the event of a Middle East war would be a permanent blow to the New York Mercantile Exchange (Nymex) and would not prevent further price spikes, traders said. Most traders said they
      Reuter  -  388 words
    • Article
      Lock icon Chicago exchanges to help Moscow develop market
      310 15 Reuter THE Chicago Board of Trade and the Chicago Mercantile Exchange, two of the world's biggest commodities exchanges, agreed on Thursday to help develop a fledgling Soviet commodity market. The Moscow Commodity Exchange, the first to establish itself in the Soviet capital as
      Reuter  -  310 words
    • Article
      Tin edges down eight sen on profit-taking
      841 15 REPORTS TIN price on the Kuala Lumpur Tin Market retreated slightly to close eight sen lower at M 516.40 per kg yesterday on some profit-taking activity ahead of the weekend. Despite scattered buying interest from Europe and locals. dealers attributed the downtrend mainly
      841 words
  • Article
    PRICES
    1402 15 Rubber Nov 2 MS(tobhi >■!■») Scents/kg Noon Close Int 1 RSS Promp« I53.00/I54.00N 152.25/153.25N Int I RSS Dec 90 153.25/153.75 I52.50/I53.00N Int 1 RSS Jan 91 153.50/154.00 152.75/153.25N Int 2 RSS OP 149.50/151 .50N 149.00/15 l.OON Int 3 RSS OP I45.00/147 00N 144.50/146.50N Int 4 RSS OP I41.00/143.00N 140.50/142.50N
    1,402 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
      1090 15 NOTICES INTMCO LIMITED (Incorporated In the Republic of Singapore) LOST SHARE CERTIFICATES Applications have been made to the directors of the abovenamed company to issue duplicate share certificates in place of the following share certificates which have been reported lost or destroyed: No. ihwM 100 Mch itSQI?' 74 800 H
      1,090 words
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  • Article
    Tax on subsidised loans will affect only a handful: experts
    385 16  -  By Magdalene Ng MOST EMPLOYEES will not be affected by the Inland Revenue Department's move to close a loophole that some people have exploited, according to tax consultants. BT reported yesterday that the tax department had ruled that the interest
    385 words
  • Article
    S'pore trade team to visit Soviet Union
    227 16 LOCAL BUSINESSMEN who are keen on exploiting the potential of the Soviet market of 281 million people will take part in a Trade Development Board trade mission later this month. The week-long mission, which begins on Nov 25, will involve 31 Singapore companies,
    227 words
  • Article
    Oil firms likely to ape Mobil's postings rise
    394 16 ON THE HEELS of Mobil Singapore, oil companies are expected to raise their wholesale prices next week in a move that is likely to ignite a round of pump price increases. Mobil raised postings for its premium grade by 10 US cents
    394 words
  • Article, Illustration
    PM Lee reassures Indians, Malays
    129 16 PRIME MINISTER Lee Kuan Yew yesterday allayed the fears and anxiety of Indians and Malays over the slogan of the recent Speak Mandarin Campaign. Speaking during a visit to the Central Sikh Temple, Mr Lee said that Indians and Malays should not read too much
    129 words
  • Article
    Lock icon National Front may dump Singh for Rajiv's support
    378 16 AFP A MAJOR realignment of political forces is on the cards in India, where the dominant ruling party seems to be preparing to dump Prime Minister Vishwanath Pratap Singh to stay in power. Former premier Rajiv Gandhi's opposition Congress (I) party has
    AFP  -  378 words
  • Article
    Lock icon Japan resumes development loans to China
    347 16 AP JAPAN yesterday announced the resumption of a development loan programme for China that had been frozen soon after the brutal suppression of pro-democracy protests in Beijing last year. Japan will offer up to 36.5 billion yen to China for seven projects "in order
    AP  -  347 words
  • Article
    IRD going ahead with $300 m building plan
    310 16  -  By Lilian Ang THE Finance Ministry is going ahead with plans for a $300-million office building to house the Inland Revenue Department (IRD), currently operating at four different locations. Work is expected to start on the project before the year is out.
    310 words
  • Article
    Chok Tong announces remaining changes to Cabinet
    344 16 FIRST DEPUTY Prime Minister Goh Chok Tong yesterday announced the remaining changes in the government when he takes over as Prime Minister on Nov 28. Dr Yeo Ning Hong will be the only Second Minister in the Defence Ministry. Currently, he is the
    344 words
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  • Executive Lifesyle
    • Article, Illustration
      A palace in Tampines
      1285 17  -  Paul Ramani and Jaime Lye report on small homeowners with big furniture dreams Paul Ramani, Jaime Lye THEY SAY a man's home is his castle. But, given that one man's Le Mercier may be another man's IKEA, it really all depends on who you talk to.
      1,285 words
  • STRAWS IN THE WIND
    • Article
      Stoned
      20 17 WHEN IT COMES to imitations. Thailand doesn't stop at T-shirts and leather goods. Spotted in Phuket: Rock Hard Cafe.
      20 words
    • Article
      Making it dead
      37 17 SHAKEY'S PIZZA may have a pretty fancy phone number (*****48), but it doesn't sound so good when you translate it into Mandarin, because it means "go and die, go and die, go and die."
      37 words
    • Article
      Under-dressing
      47 17 AT A Big Four bank, it is understood that when lowerlevel managers meet with the top brass, they dress down ie, take off their ties. Not because top management are sloppy dressers, but because they don open-neck shirts standard civil service attire most of the time.
      47 words
    • Article
      Off duty
      36 17 ONE HIGH-LEVEL law enforcer was spotted parked under a "No Waiting" sign at Holland Village, when someone who recognised him, asked: "Isn't that against the law?" "Yes, I suppose so," was the sheepish reply.
      36 words
    • Article
      Damn them all
      51 17 HERE'S AN anecdote from BBC: One parishioner commented to another that he couldn't hear the day's sermon clearly because the agnostics were so bad. Do you have a straw to share with us? Send your contribution to: The Lifestyle Editor. Business Times, 390 Kim Seng Road. Singapore
      51 words
    • OPINIONS
      • Article
        Grab the chance of riding on Asia's next tiger
        976 18  -  A J Leow makes an appeal to allow local businessmen to sniff out opportunities in Vietnam A J Leow The writer is a BT journalist SINGAPORE investors eyeing business opportunities in Vietnam must be watching recent political and economic developments in
        976 words
      • Article
        If you prick us, do we not bleed?
        1304 18  -  The mistreatment of foreign maids draws attention to a darker side of society that Singaporeans will have to confront, writes Sammad Rejab Sammad Rejab The writer is a BT sub-editor IF the National Trades Union Congress were to release a report one
        1,304 words
      • Article, Illustration
        Why it's (nearly) now or never in the Gulf
        1110 18  -  Perhaps, argues Neville Stack, an immediate attack on military and strategic targets in Iraq is the way out of the impasse in the Gulf Neville Stack The writer is a consultant and political commentator in England THE Russians had a secret
        1,110 words
      • Article
        Land sale: No decision on details yet
        117 18  -  Saharudin Kassim Administrative Officer for Deputy Chief Executive Officer Urban Redevelopment Authority PLEASE refer to the report "Marina South land sale likely to start next year" (BT, Oct 31). While it is true that URA is considering the release of land at Marina
        117 words
      • Article
        Unnecessary reference
        118 18  -  Elizabeth P Buensuceso Second Secretary Embassy of the Philippines I REFER to the Television and Radio page (BT, October 29). Presenting brief notes on television and radio programmes does not require a lot of talent and imagination. But when your writer makes unnecessary reference to a Filipino maid
        118 words
    • LIFESTYLE 1
      • Article, Illustration
        Rich, 77, and full of life
        933 19  -  Samuel Ee meets a tycoon with a rich sense of humour who epitomises the American Dream Samuel Ee He was born Rich, he became rich and he will always stay Rich. The punning might seem tasteless to Robert Rich but what will never be
        933 words
      • Article, Illustration
        Hallelujah for life beyond jingles
        507 19  -  Samuel Ee meets a thrice Grammy-nominated gospel-singing trio Samuel Ee WHEN A GROUP of singers from Nashville started doing jingles for McDonald's commercials, they somehow knew that singing the praises of a patty in a bun wasn't going to be their calling in life. Instead,
        507 words
      • Article, Illustration
        Don't worry, just gargle
        611 19  -  Paul Ramani finds out more about Farrah Fawcett's smile Paul Ramani MAYBE you've seen those red bottles of Plax piled up outside some pharmacies, and wondered what they were but were too afraid to ask the promoters in case they made you buy one. Don't worry,
        611 words
      • Article, Illustration
        The reincarnations of Quincy Jones
        634 19  -  Ringo Liew pays tribute to one of the musical legends of our time Ringo Liew By any stretch of the imagination, it would be difficult to trace a common thread that could possibly extend from the incomparable Ella Fitzgerald to the controversial Ice-T. That Quincy
        634 words
      • Article, Illustration
        Lock icon Kevin Costner journeys to a new frontier
        1053 21  -  Costner's directorial debut reveals a film maker driven by an attention to detail, Richard C Morais reports Richard C Morais NYT IT WAS very much like the Hardy Boys or something," says Kevin Costner of his new film. "It was like, 'Hey, let's
        NYT  -  1,053 words
      • Article, Illustration
        Advantage of a Moysian fit
        318 21  -  BRIDGE By Sybil Holloway WHEN TODAY'S hand turned up in a team event, only one N/S pair managed to solve the problem of finding the right for making a grand slam. Most N/S pairs attempted to play in a club or no-trump slam contract and
        318 words
      • Article
        The new-style Chiantis of Antinori
        766 21  -  WINE By N K Yong RECENTLY an extensive tasting of the wines of Antinori was carried out, the second in a series of Italian wine tastings conducted under the patronage of the Ambassador, Dr Romualdo Bettini. To those who had hitherto associated Italian wines with
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    • EPICURE
      • Article, Illustration
        Checking the pulses
        881 20  -  Quek Swee Peng decides to turn vegetarian for two days Quek Swee Peng I PLEAD guilty to carnivorous carvings. To be sure, vegetables are a must with all meals. And, on several occasions, they monopolise one's total attention. But 1 have yet to become a vegetarian convert.
        881 words
    • SPORTS
      • SIDE LINES
        • Article
          Europeans take the lead
          68 22 THE EUROPEAN team defeated the United States four pmes to two in the first round on Thursday to take the lead in the US$l.l5 million four tours world championship of golf team competition as Australia drew with Japan 3-3. Fred Couples, winner of the Los Angeles
          68 words
        • Article
          Fourth seed Paulua eliminated
          82 22 FOURTH SEED Barbara Paulua, No 6 Judith Wiesner and No 8 Anne Smith all were eliminated on Wednesday during second-round action at the U*****,000 Virginia Slims of California. Paulus, of Austria, was a 7-6 (7-5), 6-1 loser to Meredith McGrath, who played one year at nearby
          82 words
        • Article
          Richter makes the difference
          60 22 NEW YORK Rangers goalkeeper Mike Richter made the difference on Wednesday night. In a battle between the two best teams in the NHL this season, the Rangers rolled to a 9-4 victory over Los Angeles after scoring Five third-period goals against two Kings goaltenders. "It was
          60 words
        • Article
          Shriver and partner beaten
          64 22 CLAUDIA PORWIK and Liz Smylie made Pam Shriver's first tournament appearance since undergoing surgery a short one with a doubles victory in the US$l5O,OOO Virginia Slims of Nashville on Wednesday night. Porwik and Smylie beat Shriver and Elise Burgin 6-3, 6-1 in the final doubles match
          64 words
      • Article
        Lock icon Marathon major from Tanzania
        199 22 AP IT's no coincidence Juma Ikangaa runs marathons with a commanding presence he's a major in the Tanzanian Army. The 33-year-old Ikangaa has been in the Army for 11 years and serves as an artillery instructor. Since running the 26-mile, 385-yard (42.180-km) distance for the first
        AP  -  199 words
      • Article, Illustration
        Swing, swank, shoe
        177 22  -  The rearrangement of the spikes wasn't the only revolution in golf shoe design. Two equally essential factors are comfort and lateral stability because both affect a golfer's swing. This means tnat picking a good golf shoe is as important as selecting the right clubs. Here, CASSANDRA HOW
        177 words
      • Article
        Lock icon Return of South Africa?
        153 22 Reuter A QUICK end to South Africa's racial segregation policies is the only way that the sports-mad nation can return to the international sporting community, African Olympic officials say. South African sports lead- i ers meet African Olympic officials in Harare this weekend to review how
        Reuter  -  153 words
    • PURSUITS
      • Article, Illustration
        No tanks for Volvo
        849 23  -  Samuel Ee finds out how far Volvo has gone to add style to h, n stable of safe ears Samuel Ee ONE AUTUMN afternoon on the motorway from London heading north, a sudden storm felt it was time to turn the British Midlands into another Loch
        849 words
      • Article, Illustration
        A lady of art with true grit
        691 23  -  By Cassandra How VINCENT Van Gogh struggled against the odds and only achieved fame posthumously. Chen Tso-Chi may never achieve the same greatness, but she has had her fair share of odds, and overcame them admirably. She was born an artist in a
        691 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          Follow-your-employee manpower solution
          236 24 THERE IS this story making the rounds in aviation circles. A Singapore Airlines flight engineer earning $50,000 a year was offered a $100,000 job in Japan. "I have to think about it," he said, even though the doubling of pay was attractive. "What doubling of pay?" came
          236 words
        • Article
          SIA's soaring wage bill
          174 24 SIA is the most profitable airline in the world a distinction, some of its employees say, perhaps unkindly, that has been achieved by paying its staff relatively low salaries. But whichever way one looks at it, SlA's wage bill is nothing to sneer at. As the
          174 words
        • Article
          A tycoon's ferry tale
          214 24 ONE OF Hongkong's most interesting tycoons died of a heart failure on Oct 30. He was Kwok Tak Seng, founder of Sun Hung Kai Properties, and after Li Ka Shing, the richest man in the territory. The 79-year-old Mr Kwok was born in Macau and moved
          214 words
      • Article, Illustration
        The market in perspective
        184 24  -  CHART By Goola Warden •Ms Warden is a chartist with OUB Securities THE distant rumblings of war clouds gathering over the Gulf last week caused oil prices to rise while stock markets fell. The Straits Times Industrials Index lost 80 points from its mini rally-high of
        184 words
      • Article, Illustration
        Indian stocks — back to earth
        639 24  - Indian stocks back to earth Indian markets, which hit the the roof despite the Gulf crisis, have fallen back, writes S N Vasuki S N Vasuki Reality is finally catching up with Indian stock markets; after six months of unprecedented boom conditions, stock prices have fallen sharply in recent weeks.
        639 words
      • Article, Illustration
        Lock icon Markets still battered by Gulf crisis
        594 24 Fears of a wider conflict have kept investors everywhere hoarding cash and avoiding risk Reuter Three months after Iraq invaded Kuwait, world stock markets are shell-shocked and uncertainty about the future has erased most traces of the confident 1980s. A surge in oil prices
        Reuter  -  594 words
      • Article, Illustration
        Lock icon Stock watchers look to the stars
        491 24 Don't laugh. You can make your bucks in the puzzling stock market if you turn to heaven for clues, say devotees of astro-economics Reuter Heaven knows what will happen to the stock market next week. Just ask Grace Morris, a Chicago astrologer who recommends
        Reuter  -  491 words
      • Article, Illustration
        Sterling: what next after the ERM honeymoon?
        776 25  -  Alan Budd, economic adviser of Barclays Bank, assesses the pound's current strength Alan Budd STERLING'S honeymoon period within the Exchange Rate Mechanism (ERM) proved unexpectedly short-lived. Immediately following the announcement of entry into the ERM, the British pound quickly rose through the three-mark
        776 words
      • Article, Illustration
        Likelihood of a serious oil shock slim
        712 25  -  Even if war breaks out in the Gulf, a global economic crisis is unlikely to develop, argues Dr Peter G Rogge, who shares his views with Quak Hiang Whai Quak Hiang Whai THE PRICE of oil will have to rise to no less
        712 words
      • Article, Illustration
        There's money in Europe
        400 25  -  Quak Hiang Whai interviews Rabobank's Dr Anton A M van Nunen, who recommends three possible investment avenues Quak Hiang Whai INVESTORS should look towards Western Europe for investment opportunities instead of Japan and the US given the current economic and political conditions, a senior economist from
        400 words
    • JOBS
      • Article, Illustration
        Mutual understanding, at last
        959 26  -  S N Vasuki finds out if exit interviews can help check high staff turnover S N Vasuki YOU ARE A middle-level manager in a large multinational corporation in Singapore. Your company is at the cutting edge of high technology. The salary and perks are substantially higher
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      • Article, Illustration
        EXECUTIVE MOVES
        327 26 Wu Shen Kong has been appointed a director of BP Singapore. He is responsible for the manufacturing and supply division and human resources. He joined the company in London as a research technologist in 1971 and also worked as a supply economist in the company. Koh Kah Yeok
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    • THE TRAVEL PAGE
      • Article
        AIRCRAFT ARRIVALS AND DEPARTURES
        1032 27 City Flight ETA Flight ETO Adelaide SQ228 1910 QF82 2115 Qf81 2010 Amsterdam SQ23 1345 KL838 2115 KL837 1505 SQ24 2200 Athea* 0A471 0015 NZ21 1720 NZ22 1830 SQ338 2030 BA12 2200 Battkpapan GA525 1450 Baadar Sen SQ182 0915 Mtgmm SQ181 1410 Bangkok QF62 1135 CI664
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        Bargains in Europe's watery city
        632 27 POSTCARD FROM AMSTERDAM TAKE some carefully counted pennies, mix with a generous dose of music and art and sprinkle with lively, slightly accented conversation. In an easygoing setting, let it rise for three or four days. The recipe, so a proud citizen of Amsterdam insists,
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      • Article
        MONEY CHANGER RATES
        150 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.320 1.340 Canadian dollar I.4S2 1.472 NZ dollar 1.028 1.058 Sterling pound 3.3100 3.3400 US dollar 1.7040 1.7140 I>ocal dollars to 100 units of foreign currency Austrian schilling 15.90 16.90
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      • Article
        WORLD TRADE EXHIBITIONS
        74 27 Duration Title Venue Oipmttr Tel Duration Title Venue Organiser Tel Nov 4-9 International Spain Foire De 3/423.31.01 Nov 7-11 International Italy Torino (39)*****9 Chemical Barcelone New Technologies Esposizoni Exhibition Innovations Fair S.p.A Nov 6-9 Building Hongkong Business* *****00 Nov 12-15 Fire East 90 Hongkong FMJ International *****86J1
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    • TIME OFF
      • Article
        THEATRE
        173 28 SSO Orchestra Conducted by Choo Hoey with soloist Michaela Martin. Some of the works to be performed include Wolf-Ferrar-i's Jewels Of The Madonna Intermezzo No 2, Schubert/Berrio's Rendering and Bartok's Violin Concerto No. 2 Victoria Concert Hall. 8.15pm. Today only Improvisation A concert featuring The Muhibbah Ensemble of masked
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        EXHIBITIONS
        327 28  -  Compiled by K Jayanti Chen Tso Chi, Sarah Beckett On display are paintings by the Taiwan-born Chen Tso Chi and Sarah Beckett. Chen's work is strongly inspired by the rural and peasant scenes of Taiwan. Art Affairs Pte Ltd, 35 Duxton Rd. Oct 25 to Nov 15. Mon-Sat, llam-6pm
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    • Article, Illustration
      CINEMA
      410 28 Another 48 Hours. 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. Jade 2: 11; 1.30; 4; 6.30; 9. Days of Thunder. Motorcars and machismo combine with exhaust fumes
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      77 17 flOSi i r iSmißkMV:y BSEISSS-AAAai r j,: _J •~^«aH«HE t- w J 1 a M mwHK m 1 mjIS 1 V IHH INDIVIDUALITY. PRECIOUS METALS, CLASSIC STYLING AND EXQUISITE CRAFTSMANSHIP ARE EMBODIED IN ONE OF THE WORLD'S MOST DESIRED WATCHES. THE ELITE WATCH FROM ALFRED DUNHILL. J LI dunnill Lucky
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      32 18 LETTERS TO THE EDITOR •B1 welcomes letters from you. Address them to: The Editor, Business l imes, l imes House, 390 Kim Seng Road, Singapore 0923. Letters should include your contact numbers.
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  • Page 18 Miscellaneous
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      58 18 DOONESBURY BY GARRY TRUDEAU YOU SEE LACBY, THE M ci i FOR THE BETTER"[ IT'S THE LEAST PROBLEM IS THAT MILE MAYBE LACEY, IF THERE'S NO I<SEB CONGRE&CAN SOMEBODY MIGHT HAVE Wfj CANDIDATE, COME JANUARY, YOUR. DO. UJE'VE ALLRUN AGAINST YOU, NO- mew THERE'S GONO TO 0E ONE POM. BEHAVEV6O
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      112 19 SIMPSON W//A marine INTERNATIONAL NEW SECOND HAND YACHT BROKERS Exclusive Agents For: FLYER 10 Stylish performance sports cruiser. Ten year hull guarantee. Available from stock ex-factory *****.000 ■MHHHHjjI FIRST 310 Cruisert Racer from the la r ges;' HISTAR 'rom Taiwan Custom sailboat producer 10 year hull guarantee Price interior available.
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      260 20 WHEHE TO WIHE, DIME AND ENTERTAIN WHEBE TO WINE, DINE AMP ENTERTAIN WHERE TO WINE. DINE Didn't I see you at Scandals? W I Kvcry Thursday: Indies Night. Every Night: The place to sec and be seen. Scandals, Singapore's most sophisticated club and meeting place. Kor details on nfembership, call
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      Page 20 Advertisements Column 2
      394 20 1 CALIFORNIAN cuisine J TOO LA TE FOR BREAKFAST? TOO EARLY FOR LUNOH? TIT CALIFORNIAN BUFFET _4_ BRUNCH Jk DELIGHTFUL HOT AND COLD DISHES. A JAZZ r f| V BAND TO PUT VOU IN A MERRY MORNING M/ MOOD. EVEN A LEGO PLAYGROUND 1- NEXT DOOR FOR THE SMALL ONES,
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      Page 20 Advertisements Column 3
      312 20 Have Poolside "BBQ Buffet" Under the Stars! 1 Now, besides our weekend 1 steamboat buffet is the new "all-you-can-eat" Barbeque Bu ff et jr.., > BBQ Buffet Adult: $15++ Child: $9++ 1 Steamboat Buffet* Adult: $1250++ Child: $B++ So headJor Sfey Garden Poolside where you gt more than your fair
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      Page 20 Advertisements Column 4
      379 20 A PERFORMED DAILY AT /jk THE PINE COURT ,•4 VI Amidst Imperial splendour, our chefs stage their hlghly-acclalmed performance fWrt of legendary Beijing cuisine to the satis- Mppt&V tjfi A.; faction of demanding dlners.To guarantee 'V/ fw your place amongst the discerning, make |ml your reservations early mr < W
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      239 21 ANO ENTERTAIN Brunch Is A Family Affair Every Sunday. SUNDAY BRUNCH: 11AM T02.30PM. fIV fI^FADULTS JV $31.00+ R CHILDREN > $i 9.00 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. A ANA HOTEL
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      Page 21 Advertisements Column 2
      111 21 f hast on our tantalisingTeochew delicacies like 11 11 savoury 1 ini Sum and seafood cuisine And en|< a tor free a spectacular Wedding Gown Show l>\ I jwen fV >utit|ue. Only on November ("andDux-mhur 1 at 1 AOpm Ai the j 1 n TeochewCily Restaurant, Straus Trading Buildup Vte
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  • Page 22 Miscellaneous
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      59 22 Golf Rules SECTION U: PtFINIflOklS: FU&SflCKf: -TVE "PU&sricr 15 A bxoviABLS STRAIGHT INPICATOI?, WITH OR without BUNDING OR onei? AIW*»EP, CENTRE? IN THE- note TO SHOW ITS POSITION. If 6HAMgg CIRCULAR IN CROSS-SECTION Sg I 5S^M£ til S3 1 v\W\W m f //'i««i ROUS Of COIF ***** ROfAl AND ANCIfNT
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      88 25 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 relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look
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      Page 25 Advertisements Column 2
      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 care of you for life. m Great Eastern Life jj/ -/Jj We take care of you for life J. J,
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      775 26 DHL IN THE NEWS Advertisement DHL SPANS THE WORLD DHL was started in pany with a global network network, DHL is helping the United States in 1969 of over 1,344 offices serv- companies to improve their by three men Dalsey, ing 55,000 communities in productivity and distribuHillblom and Lind who
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      Page 26 Advertisements Column 2
      155 26 We are looking for an independent self-starter and p with strong business acumen j 1 I j Min. 5 years experience in both commercial and retail banking/financial services Good customer base. |j Experience in managing a department. g| A tactful motivator. E Aggressive in marketing. j|| Please contact Deborah/Sarah H
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      Page 27 Miscellaneous Column 1
      256 27 6 Copied in a beastly way fIV ]Hj 9 Loyalty, say, in kinship 10 Lover wounded back (4) the spectacle (7) is —-881 ~■■l6 15 Right joint to become inm MH m 16 It is less trouble to see air iH_JHft |HHH Bl moving! (6) j 17 Thunderous clapping? UhJ
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      201 27 Singapore Forecast: (Thur) Max temp. 29.1 assoc humidity 80% min temp 24.0"C assoc humidity 98% hrs of sunshine 2.65 rainfall in mm 15.2 rainfall this mth 15.2 rainy days this mth I World Forecast Asia-Pacific Hi/Lo* Cond. Auckland 19/12 Fair Bangkok 35/26 Fair Beijing 19/08 Sunny Brunei 31/25 Showers Hongkong
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      16 27 fc:i" p&e TO CPRRN Tnem out...} roeeriMG O EVENINO STANDARD CO. LTD. IH2 tMO ViCK~- 8296
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      1761 28 TODAY'S TV ■PfMH 9.00 The Dolphin Cove. Ncwipipcr Clipping. Rttigtotn programme. Mr Fortune, 10.20pm, SBC 8 /ui an Business Reoort 10.00 Mystery of the Magic My. 1 n«|#v a i f |a nt A.i a.Ai-n j ai i A toy designer inadvertently 8.30pm, SBC 12 omSarid!Sayang. saves the life of
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      765 28 MPVIESoI^^" Bachelor Mother suading to watch Hitchcock Mon, 10.30pm, SBC 12 at his peak. His compelling Gincer Rocers is a brassv tale of obsession sees James young shopgirl who finds an Stewart stuttering over a abandoned young baby and woman who looks like somecan't understand why she e used to
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