The Business Times, 8 December 1990

Microfilm: NL17371
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    12 1 Business Times MCI (I') 170/12/89 Weekend Edition. December X-9 1990 75 4
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  • NEWS & MARKETS SUMMARY
    • Article
      US unemployment hits a three-year high
      56 1 AMERICA'S unemployment rate shot up to a three-year high of 5.9 per cent in November, the government said yesterday. Over five months, the number of Americans without jobs swelled by 900,000. Nearly all of the nation's industries lost jobs last month as payrolls fell
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    • Article
      Dow lower
      30 1 WALL STREET share prices fell at the opening bell yesterday. with the Dow Jones Industrial Average slipping 3.2? points to 2,599.25 in the first five minutes of trading.
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    • Article
      Footsie higher
      43 1 LONDON share prices were higher at midday yesterday, boosted by strong demand for stock index futures. At about 1215 GMT, the Footsie 100share index was up 9.2 points, or 0.4 per cent, at 2,186.7. Volume was 329.5 million shares at midday.
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    • Article
      PUB to invest more
      27 1 THE Public Utilities Board will spend $1.11 billion next year on development projects to upgrade Singapore's electricity, water and gas facilities Page 2
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    • Article
      Goodwood dividend
      28 1 THE Goodwood board has recommended that the company pay out 83 per cent of its improved earnings of $24.4 million in 1990 as dividends. Page 3
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    • Article
      The Viet connection
      32 1 HONGKONG led other Asian countries in foreign direct investment in Vietnam, followed closely by Japan, Taiwan and India, a confercnce on business prospects in Vietnam was told Page 6
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    • Article
      Market holiday
      19 1 MARKETS in Malaysia were closed yesterday as a mark of respect to the late Tunku Abdul Rahman.
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    • Article, Illustration
      STOCK INDICES
      31 1 Friday Change BT-MGA 596 22 5 +21.94 Kuala Lumpur closed Hongkong 3,163.69 +36.90 Tokyo 23.522.49 +969.39 Sydney 1,335.6 +12.3 I hursday hange New York 2,602.48 +7.92 London 2,177.5 +24.9
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    • Article
      CURRENCIES
      18 1 Exchange rates USS SSI.7145 Yen SSI.2979 MS SS0.6357 Money market rates Overnight 5-7/8 1-4/X 3-month 5-9/16% unch
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    • Article
      COMMODITIES
      39 1 London Gold AM fix US$371.10 -USS2 70 Rubber S pore Jan I5l00«/kg -1.00 M'sia Jan closed KL Tin Turnover 14 tonnes -17 Spot VIS I 5.15/kg i 0.05 Crude palm oil Turnover 1.125 lots -1,768 Dec M$829/tonne 3
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  • Article
    Gatt talks postponed to 1991
    459 1  -  Bickering over agricultural subsidies From Yong Pow Ang in BRUSSELS THE ministerial meeting at the Uruguay Round ot trade talks collapsed yesterday, hobbled by sharp differences over agricultural subsidies. To prevent trade wars from breaking out, trade ministers from over 100 countries at the talks
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  • Article, Illustration
    Yokogawa to put local operations on a higher plane
    354 1  -  By Schutz Lee ONE OF Japan's top industrial systems groups, Yokogawa Electric Corporation, is planning to give its regional headquarters in Singapore greater autonomy and more technology. The Singapore office, which now looks after the Asean countries, may also be made
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  • Article
    Lock icon Hostages go free but Iraqi arms buildup continues
    307 1 The Gulf Crisis Agencies THE IRAQI parliament yesterday overwhelmingly endorsed Saddam Hussein's decision to free hundreds of foreign hostages, but 30,00() fresh troops have been sent to the Arabian desert, indicating Iraq has no intention of abandoning Kuwait. The vote, by a
    Agencies  -  307 words
  • Article, Illustration
    Joint mission to promote Riau
    265 1 ONE LEG of the growth triangle will get a boost next week when Singapore and Indonesia launch their first joint investment promotion mission in Japan. Over 500 people are expected to attend two seminars to be held in Osaka on Monday and Tokyo on Wednesday.
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  • Article
    STII leaps 44 points in heavy trade
    329 1 THE REGION'S stock markets soared yesterday as investors cheered the nous of the promised release of foreign hostages in Iraq by lapping up more stocks. The optimism was obvious in Singapore where the widely-followed Straits Times Industrial Index jumped 31.14 points in the
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  • Page 1 Advertisements
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Integrating MRT, bus services
        59 2 THE three public transport companies have applied to the Public Transport Council for approval to integrate the Mass Rapid Transit and the bus services, said Chan ('hong Meng, the marketing manager ot' Transit Link yesterday. Transit Link was formed in 1987 by the Singapore Bus Service,
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      • Article
        10-11pc more tourists expected
        64 2 THIS YEAR's tourist arrival figures will show an increase of just 10 to 11 per cent over last year's though the first halfs average increase was 13 per cent, said the chairman ot the Singapore Tourist Promotion Board, Leong Chee Whye. "The Gulf crisis hit our
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      • Article
        Historic building up for tender
        69 2 RIDING on the success of the restored Alkaff Mansion, the Singapore Tourist Promotion Board yesterday announced that it was putting up another historic building for tender. The STPB, on behalf of the National Parks Board, is seeking proposals to develop the E J H Corner
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      • Article
        Corrections and clarifications
        58 2 IN YESTERDAY'S story headlined "Oil majors expect retail end to do well next year", we said that Mobil was offering, at its two newly-opened kiosks, lucky draw coupons to motorists for purchases of petrol. It has been pointed out that the lucky draw coupons arc for purchases
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    • Article
      Pacific economic forum is 10 years old
      317 2  -  By Kenneth James TEN YEARS after the Pacific Economic Cooperation Conference (PECC) was initiated in Canberra, this forum for discussion and research of regional economic issues has "grown in scope, maturity and acceptance", PECC chairman S Chandra Das said yesterday. Launching a special
      317 words
    • Article
      PUB plans $1.1b capital spending next year
      366 2  -  Electricity accounts for bulk of expenditure By Lilian Ang THE Public Utilities Board (PUB) will spend $1.11 billion next year on development projects to upgrade Singapore's electricity, water and gas facilities. The $1.11 billion, which brings the board's total investments so far to
      366 words
    • Article, Illustration
      HK power supply maker plans R&D centre here
      269 2  -  By Claire Leow ASTEC. a huge Hongkongbased power supply maker, is forming what may be Singapore's largest research and development (R&D) pool in a move that will lead to its local operations becoming the operational headquarters (OHQ) eventually. Astec plans to have
      269 words
    • Article
      World Bank picks Singapore as regional HQ for water group
      257 2  -  By Anne Lee THE WORLD Bank has chosen Singapore as its regional headquarters for its Regional Water and Sanitation Group (RWSCi). Housed in the RELC Building, the RWSG will use Singapore as the base to reach out to the South
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  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      553 2 Vessel Voy Ho Berth Arrival Departue Vessel Voy No Berth Arrival Departue keppd Wharves Sinar Mega 13/90 M4B 07 12/1830 07 12/2359 Ananas 9007 K34 alongside 08.12/2300 Super Star 9 62 MIC 0812/0900 0812/2000 Cora Pcess 028 (P) K29 alongside 07.12/1745 Syahpotra *****0 M3B 08 12/1130 08
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    • Article
      CONTAINER SCHEDULE
      1316 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Bookrf/Balance Rslts Sh%> Voy No Etb/Btr Period From To From Aka Bhum 445N 10/0300 2 07/1700 08/0659 08/0900 4 08/1200 08/1459 08/1700 AJgentb 02E/90 09/0700 1 07/1500 07/1659 07/1900 3 08/0700 08/1159 08/1400 AHi Triumph ***** 10/0400 1 07/1500
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Goodwood to pay out generous dividend
      517 3  -  By Lee Han Shih CHRISTMAS has come early to the Goodwood Park Hotel group. The Cioodwood board has recommended that the company pay out 83 per cent of its improved earnings ol $24.4 million in as di\idends. This news will certainly be welcomed by
      517 words
    • Article, Illustration
      UOB chairman appointed to seat on SCMP board
      350 3  -  From Catherine Ong in HONGKONG WEE CHO YAW, chairman of the United Overseas Bank, has been appointed to the board of the South China Morning Post (SCMP). The appointment followed the newspaper company's first annual general meeting si nee it went public
      350 words
    • Article
      Upgrading helps local market grow: SES
      460 3  -  From Al O Labita Jr in MANILA THE constant upgrading by the Stock Exchange of Singapore of its infrastructure and services has helped buov the growth of Singapore's stock market. In a report to the ongoing 9th East Asian Stock Exchanges Conference (Easec) in
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    • Article
      Warrants: premiums and gearing
      929 3 Prices (as at 6.12.90) Conversion terms (discount) Ex P if y Amount Optional" using Company Issued Wf ts Share Ln stk Exer r. 7 -> Gearing 4 M (m units) Conv price Cash Cash' Lnstk 2 Date Mths ratio n< m le,t value C&CW1 37 5
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    • Article
      Lock icon Menang to pay M$220m for property deals
      296 3 MBT MENANG CORP has proposed to buy a mixed portfolio of properties for M 5219.60 million which will be mainly financed through an issue of new shares. Menang. which is diversifying into hotel and resort development, said the moves are expected to provide
      MBT  -  296 words
    • Article
      UIC not connected with Oei's Honshu deal
      241 3 UNITED Industrial Corporation issued a statement yesterday distancing itself from the latest dealings of its president and chief executive officer Oei Hong Leong. Foreign press reports, meanwhile, continued to speculate on his large acquisition of options on Japanese paper manufacturer Honshu. Responding to
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    • COMPANY BRIEFS
      • Article
        General Lumber to consolidate position
        111 3 GENERAL LUMBER (Holdings) Berhad will consolidate its position following its recent acquisition of Sri Damansara Sdn Bhd and Syarikat Trimal Sdn Bhd, its chairman, Wan Azmi Wan Hamzah, said yesterday. Property developer Sri Damansara was acquired for Ms2oo million earlier this year while Syarikat Trimal
        111 words
      • Article
        Changes at Centrepoint
        58 3 CENTREPOINT Properties announced that Messrs Michael Fam and lan Alastir Mac Lean have been appointed respectively as chairman and director of the group while Messrs Charles W Tresie and Peter N Husum have resigned as directors. The listed group has also changed its registered office to c/o
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      • Article
        New chairman at Avimo
        35 3 MR M D CANNONS has resigned as chairman and director of Avimo Singapore Ltd with effect from Dec 7. He is succeeded by Mr N Prest as chairman of the company.
        35 words
      • Article
        Burwill turns in interim profit
        86 3 BURWILL HOLDINGS announced yesterday that it has made net group earnings of HK$ll.3B million for the half year ended Sep 30, 1990, on a turnover of HK5520.23 million. Trading profit worked out to HK$ 11.13 million, and earnings per share amounted to HK50.025. The directors
        86 words
    • Article
      Bt Sembawang to use Tong units as office
      196 3 BUKIT SEMBAWANG intends to use the four office units in Tong Building to be purchased from Ming Court Hotel as its corporate office, the listed home builder told the Stock Exchange of Singapore on Thursday. Replying to an SES query, it also
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      51 3 Syj'^vßig W* V r^W: J*'' '&H V**'s k c 3v.. ~y/ T' r jnft/- -gat >'« %KV v l fclv V»iff'" £> 4? ;jjj- SM "»^'tv w /f you're an expert in your field you'll know that we're the expert in ours. ks{ THE BEST VALUE. CALL: 747 8622 FOR
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  • COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        Herscu gets five years for bribing minister
        108 4 BANKRUPT Australian property tycoon George Herscu was sentenced to five years in jail on Friday for bribing a state government minister. Herscu, the Romanian-born former head of collapsed property and retail group Hooker Corp, was sentenced in the Brisbane District Court by Judge
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      • Article
        Nissan UK makes offer
        96 4 THE chairman of Nissan UK, the privately-owned sole UK distributor of Nissan vehicles, has offered to negotiate the sale of the company to Japan's Nissan Motor Co Ltd, the Financial Times said. The newspaper said the move followed disagreements between the two over the carmaker's pricing
        96 words
      • Article
        Marubeni wins US$1b deal
        103 4 MARUBENI Corp, a mammoth Japanese trading company, said yesterday it had received an order to build a US$l billion ethylene plant in Indonesia with completion slated for the end of 1993. Marubeni officials said the plant is to be built in Merak, western Java, with annual
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      • Article
        Marc Rich denies De Beers talk
        90 4 INTERNATIONAL commodity trading company Marc Rich Co AG denied a market rumour it was planning a bid for De Beers Centenary AG. The rumour says Marc Rich was putting together a consortium to bid for the Swiss-based company which houses the foreign interests of
        90 words
      • Article
        Hanson's profit rises 21pc
        133 4 ANGLO-AMERICAN conglomerate Hanson reported on Thursday that its annual pre-tax profit for the financial year ending with September had jumped by 21 per cent to a record £1.28 billion (US$.4B billion), against £1.06 billion for the previous year. The result was within the range of analysts'
        133 words
      • Article
        Pilkington on cost-cutting track
        96 4 BRITAIN'S glass maker Pilkington pic said it would step up efforts to cut costs as the group was facing a prolonged fall in demand. It had suffered from weakening demand in recent months and the depth and duration of this fall remained uncertain, the company said.
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    • Article
      Indon civil servant, businessman held for tax fraud
      248 4 AN INDONESIAN government employee and a businessman have been arrested for manipulating taxes. The Jakarta Post reported on Thursday. Hartanto, 37 and an employee of the directorate general of taxes, and Haris, 38, allegedly tampered with documents of PT Penta Bandar Utama
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    • Article
      Thai realty company scales down share offer
      404 4 THE depresed Thai stock exchange has prompted realty firm Tanayong Co to reduce the size and price of its share issue. Tanayong is the Bangkok flagship of a Hongkong-based company. Tanayong's managing director Keeree Kananapas said his firm would be using the proceeds
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    • Article
      Bumble Bee Seafoods disputes claims by environmentalists
      456 4 BUMBLE BEE Seafoods, the US affiliate of Thai company Unicord Inc, finds itself defending its purchase of tuna, which some US environmentalists said was caught with drift nets. The environmentalists want consumers to boycott Bumble Bee products because the nets also snare dolphins,
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    • Article, Illustration
      Answering the charges
      45 4 Australian businessman Alan Bond (right) arriving in court yesterday, flanked by his legal staff. Bond was in the Perth court to answer charges that he misled fellow businessman Brian Coppin over the rescue attempt of the failed merchant bank Roth wells Ltd.
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    • Article
      Chemical Bank to lead syndicate financing AT&T's bid
      473 4 The battle for NCR THE GRITTY details of a takeover battle began to unfold on Thursday after AT&T began its US$6.l2 billion hostile bid for NCR Corp. In its formal tender offer, filed on Thursday with the Securities and Exchange Commission, American
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    • Article, Illustration
      Lock icon Subsidy for Mitsubishi stuns EC industry
      495 4 Reuter THE European Commission has stunned Europe's electronics industry by agreeing to subsidise a semiconductor plant being built by a major Japanese rival. European Community sources said on Thursday the bloc's executive had decided to grant Mitsubishi Electric Corp a subsidy for its plant
      Reuter  -  495 words
    • Article
      Lock icon Samsung making enquiries about Orion Pictures
      527 4 AP IN THE wake of the latest Japanese takeover of a Hollywood movie studio, a South Korean firm has entered the picture and may have designs on the Orion Pictures Corp. The Samsung Group, a US$35-billion-a-year conglomerate with huge consumer electronics operations, has made
      AP  -  527 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      57 4 lop New Zealand Motel Complex, owner operated, four years old.. Specialist corporate and tourist clientele in prime location. Enjoying very high returns. Requires private or institution finance for further development. Our managing director will be visiting Singapore in early December. For further particulars please write: Paul Mutch P O Box
      57 words
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  • FENANCIAL NEWS
    • Article
      Lock icon Ex-Bank Duta vice-president sole suspect in scandal
      326 5 Jakarta Post INVESTIGATIONS into the Dunk Duta scandal have shown that Dicky Iskandar Di Nata. the former vice-president of the hank, was the only suspect. Indonesian AttorneyGeneral Singgih said on Wednesday. I lw Jakarta I'o.st reported that the fiasco resulted in losses of
      Jakarta Post  -  326 words
    • Article, Illustration
      Lock icon UK's policy on EC monetary union stays
      410 5 Reuter BRITAIN'S policy on European monetary union is unchanged despite the replacement of Margaret Thatcher as premier. Foreign Secretary Douglas Murd said. "It would be a great mistake to think that because the leader of the government has changed the policy will be
      Reuter  -  410 words
    • Article
      Lock icon Nymex board approves new trading limits
      342 5 Reuter THE New York Mercantile Exchange's (Nymex) hoard ot' directors has approved changes to its price limits and option strike price rules to restrict price changes, exchange officials said in New York on Wednesday. Nymex president Patrick Thompson said early on Thursday that he
      Reuter  -  342 words
    • Article
      Lock icon Lloyd's firm to help settle open-ended claims
      284 5 Reuter THE Ll.OYD's of London insurance market said on Thursday that it was setting up a company to help resolve unexpected and open-ended insurance claims causing heavy losses to many of its I rich investors. Lloyd's chief executive Alan Lord told a news
      Reuter  -  284 words
    • SMALL CHANGE
      • Article
        Thai central bank eases rule on cash reserves
        80 5 THE BANK OF THAILAND has told all commercial hanks to follow a new cash reserve requirement from Jan 4 that will give them more flexibility. The central bank circular, signed by governor Vijit Supimt. was sent to commercial banks recently. The cash
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      • Article
        UK rate cut depends on inflation
        98 5 BRITISH Prime Minister John Major told Parliament on Thursday that any cuts in British interest rates depended on the government succeeding in bringing down inflation. "The central core of economic policy is to bear down on inflation." Mr Major said. "And as that reduces,
        98 words
      • Article
        FDIC cuts transfer fee
        106 5 THE US Federal Deposit Insurance Corp said on Thursday that it was lowering the tee charged for savings and loan institutions transferring from the thrift deposit insurance fund to the commercial hank insurance fund. The fee will be reduced to 54 cents per USSIOO of deposits
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      • Article
        Claim against Drexel unit
        86 5 THE LIQUIDATORS of the UK businesses of Drexel Burnham Lambert arc still fighting a disputed claim of US$95 million against DBL Ltd. the UK commodity subsidiary, related to spot metals and futures transactions. If the claim is accepted, creditors of the commodity company will face losses
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    • Article, Illustration
      Lock icon No bottom yet for the dollar
      520 5 DBS Bank weekly currency report L'Ss/mark: bears fighting back? The US dollar's attempt to bottom out was quickly snuffed out as it failed to meet its inverse head and shoulders pattern objective of 1.5247. The 2'/2-wcck-old rally stalled after the US dollar reached a
      Source: DBS Bank  -  520 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      265 5 AN INVESTMENT OPPORTUNITY IN BLACK AND WHITE. Built in 1910, this black Tenders for of and white bungalow at 30 the E.J.H. Corner House." A Clunv Road, was once the PROPOSALS ARE copy of the Tender Document, home of E.J.H. Corner, the at $50, is obtainable by writing former Assistant
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  • Page 5 Miscellaneous
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  • THE REGION
    • NOTE BOOK
      • Article
        Indonesia to increase cement output next year
        109 6 INDONESIA will produce a total of 16 million tonnes of cement next year to meet an increase in domestic demand, the Trade Department said on Thursday. In addition to mobilising all Indonesian cement factories to produce at full capacity, the government also plans
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      • Article
        Thai, Viet papers to swap news
        70 6 THE NATION, a leading Thai newspaper, has signed a cooperation agreement to exchange news with the official Vietnam News Agency, its publisher said in Bangkok yesterday. Suthichai Yoon, who is also the editor-in-chief of the English-language daily, said, "The agreement generally covers exchange of
        70 words
      • Article
        New gas reserve found in NZ
        90 6 A NEW natural gas and condensate discovery has been made in New Zealand, Energy Minister John Luxton said yesterday. The Stratford-1A well is in Taranaki province, south of Wellington, the site of New Zealand's commercial oil and gas fields. The well produced 5.5 million
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      • Article
        France gives grant to Laos
        42 6 FRANCE will give Laos a US$5 million development grant to be used mainly in telecommunications and energy projects, a communique released by the French Embassy in Bangkok said. The agreement was signed earlier this week in Vientiane.
        42 words
      • Article
        Australian output weak
        99 6 AUSTRALIAN manufacturing output and new orders remain weak and will weaken further over the next three months, a survey by Westpac Banking Corp and the Confederation of Australian Industry shows. The survey of 253 firms said 66 per cent operated below capacity and saw stocks fall in
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      • Article
        Manila trade deficit set to rise
        94 6 THE PHILIPPINE trade deficit is likely to surge to US$4.O billion in 1990 due to a sharp rise in imports and slower than expected growth in exports, government projections show. Last year's trade gap was US$2.6 billion. The latest projections for 1990 show the
        94 words
    • Article
      Lock icon Institute sees slowdown in Thai economy
      349 6 AFP THE THAI ECONOMY will slow down over the next two years before picking up again, the Thailand Development Research Institute (TDRI), an independent economic think-tank, predicted yesterday. TDRI forecast that 1991 "s economic growth will fall to 5.63 per cent compared to this
      AFP  -  349 words
    • Article, Illustration
      Lock icon Singapore investments in Vietnam up sharply
      525 6  -  From Harish Mehta in HANOI SINGAPORE companies have invested US$9.9 million in Vietnam, while Hongkong remains unshakeable as the biggest Asian investor in Vietnam, according to official Vietnamese figures. Dr Nguyen Mai, vicechairman of the State Committee for Cooperation and Investment, the de facto
      Picture by Harish Mehta  -  525 words
    • Article
      Close fight likely in one of two Sabah by-elections
      404 6  -  By David Chew THE NATIONAL Front can expect a tough fight in one of the two by-clcctions in Sabah yesterday, both of which are being contested by the Opposition Christian-led Parti Bersatu Sabah. (PBS) Both sides are fielding Muslim candidates in
      404 words
    • Article
      Lock icon Hanoi wants to join Asean, Suharto told
      162 6 AFP VIETNAMESE leaders reiterated in talks with Indonesian President Suharto last month that they want to join the Association of South-east Asian Nations (Asean). "Vietnam has often said that it is ready to eventually join Asean. and Vietnamese leaders recently reaffirmed this in
      AFP  -  162 words
    • Article
      Copyright law to be enacted early next year
      328 6  -  From Harish Mehta in HO CHI MINH CITY VIETNAM, keen to spruce up its business image, is all set to enact a copyright law early next year aimed at putting an end to the rampant problem of infringements. The first draft of
      328 words
    • Article
      Lock icon Malaysia's growth set to top 10pc, say economists
      803 6 Bernama FOR THE Malaysian economy, 1990 has been a year of enormous success, enabling the country to close the Fifth Malaysia Plan period with a bang and providing a sound platform to build on in the post-New Economic Policy era. Economists and
      Bernama  -  803 words
    • Article
      Lock icon Be practical, Beijing urges Phnom Penh
      323 6 AFP CHINA called on Phnom Penh on Thursday to stop creating problems in efforts to settle the 12-year-old Cambodian conflict. "We hereby urge once again the Phnom Penh side t0... take a practical attitude. rather than creating difficulties and making it impossible to achieve
      AFP  -  323 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      201 6 OFFSHORE SUPPLY SHIP FOR SALE BY TENDER i\K iu. On instructions from the Vendor, the following ship is offered for sale (in Cairns, Australia) by tender. Name PACIFIC PIONEER (ex. NORTHERN WORKER) Length 54.76 m (179 V2 1 Breadth 11.58 m (38 Depth 4.27 m (14 Draught 3.66 m (12
      201 words
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  • THE WORLD
    • Article
      Lock icon US deficit heading for record highs, says study
      447 7 Weak economy and savings and loans costs pile on the pressure AP THE weak economy and the mammoth costs of helping the savings and loan industry will soon push the US federal deficit to records surpassing US$3OO billion per year, a Congressional
      AP  -  447 words
    • Article, Illustration
      Lock icon Bush in Latin American tour
      48 7 US PRESIDENT George Bush (left) and Chilean President Patricio Aylwin reviewing the honour guard at an airport arrival ceremony for Mr Bush on Thursday. Mr Bush was due to travel to \enezuela yesterday to conclude his five-country American tour. Reuter picture Reuter picture
      Reuter picture  -  48 words
    • Article
      Lock icon Iraq adds to troops and tanks in Kuwait: Pentagon
      253 7 AFP IRAQ has positioned 30.000 more troops and 200 additional tanks in Kuwait and southern Iraq, while 10.000 more US troops reached the Gulf area, the Pentagon announced on Thursday. Defence Department spokesman Bob Hall said a total of 480,000 Iraqi
      AFP  -  253 words
    • Article
      Lock icon Iraqis want Palestinian solution: King Hussein
      264 7 AFP JORDAN'S King Hussein is convinced that Iraq will not leave Kuwait unless the Palestinian problem is solved. The New York Times reported yesterday. The king, who met with Iraqi President Saddam Hussein on Tuesday in Baghdad, said the Iraqi leader had made the
      AFP  -  264 words
    • Article
      Lock icon Opec expected to reject production ceiling, quota
      272 7 AP OIL SOURCES sa> Opec is likely to reaffirm its policy of letting oil supplies gush while the Gulf erisis persKts. At the cartel's August meeting, called after Iraq invaded Kuwait, Opec members agreed to ignore production ceilings and quotas to make up
      AP  -  272 words
    • Article
      Lock icon Economists feel mounting alarm over UK recession
      509 7 Reuter BRITAIN'S recession is starting to alarm economists who fear the government-in-duced slowdown to quash inflation may become one of the worst slumps in decades. "We sec a deep and prolonged recession. In terms of cumulative gross domestic product loss, it could be
      Reuter  -  509 words
    • WORLD WATCH
      • Article
        Downturn may push US jobless rate to 6pc
        122 7 THE US economic slide, which has pushed unemployment up dramatically in recent months, threatens to send the jobless rate to 6 per cent or higher by the end of the year. anal>sts say. "As the outlook becomes more dire the entire pipeline
        122 words
      • Article
        Qian may be vice-premier soon
        74 7 CHINESE Foreign Minister Qian Qichen is likely to be come a vice-premier soon for helping to improve Beijing's international image after the June 4 massacre last year, an independent Hongkong daily said yesterday. Mr Qian's promotion "has already won widespread approval" within the Chinese leadership
        74 words
      • Article
        EC unemployment edges up
        87 7 THE unemployment rate in the European Community (EC) registered a slight rise in October to 8.4 per cent, up from 8.3 per cent the previous month, the EC's bureau of community statistics Eurostat announced on Thursday. Since last June, the jobless rate in the EC has
        87 words
      • Article
        Major to visit US
        69 7 NEWLY-ELECTED UK Prime Minister John Major will visit the United States for two days of talks with President George Bush later this month, a government spokesman said on Thursday. Mr Major, who replaced Margaret Thatcher on Nov 28 after she failed to win a contest for
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      • Article
        Investors withdraw US$110m
        73 7 FACED WITH rising local wage and other problems, foreign corporate investors in South Korea withdrew US$llO million in principal between January and September, the Finance Ministry said yesterday. The amount of withdrawals of direct foreign investment from the country was US$4B million in all of 1988 and
        73 words
      • Article
        Gloomy Christmas in store
        61 7 BRITISH RETAILERS arc facing a gloomy Christmas, with the consumer spending slump threatening to bite into revenue during the most important two months of the shopping year. The Confederation of British Industry (CBI) said on Thursday that retail sales growth was at its lowest level for
        61 words
    • Article, Illustration
      Lock icon Saddam's move helps anti-war camp
      688 7 The Gulf Crisis Reuter IRAQI LEADER Saddam Hussein's promised release of foreign hostages will stoke anti-war pressure in the United States, remove a possible pretext for hostilities and prepare the ground for negotiations. analysts say. The Hush administration weleomed Mr Saddam's promise on Thursday to
      Reuter  -  688 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Buyers return to market with a vengeance
      4831 8  -  By Diana Oon INDIVIDUAL and institutional investors entered the market in full force yesterday following the first positive development in the Gulf for more than two months. The possibility of freedom for all the hostages in Iraq led to a day of active
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3958 9 Main Board SI A Foreign 1341) +100 t-8.1% SIA 1080 60 5.9% Metro Hldgs 484 +54 +12 6% SIA 200 1090 50 4.8% DBS Foreign 1060 +50 5 0% FAN 675 +45 7.1«*b Asia Pacific 850 40 4.9% OUB 460 +28 6.5% Sea View 386
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  • Article
    KUALA LUMPUR STOCK EXCHANGE
    3036 10 The Kuala Lumpur Stock Exchange was closed yesterday. Below are Thursday's closing prices INDUSTRIALS 336 143 AISB 50* 181 II 84 182 175 44.1 185.7 655 278 ASM 50* 328 22 325 330 320 29.3 1345.7 310 264 Acidchem 300 18 131 310 283 129.0 306
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  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      155 10 THE GROWTH TRIANGLE A Special Business Times Survey February 26, 1991 The Growth Triangle began casually as an idea. Singapore. Batam. Johor. Singapore has a rich pool of managerial talent. Batam and Johor are rich in natural resources, land and labour. Combine the three and they make a triangle of
      155 words
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      Page 10 Advertisements Column 2
      189 10 Advertising and Marketing in BT every Thursday If II I Are you looking for a change in career to one that will tap your I expertise and experience in the business world? I Business Times is looking for people to join its team of business I journalists. They should preferably
      189 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Stocks rebound as hopes rise of a Gulf solution
      2252 11 TOKYO STOCKS closed sharply higher yesterday on hopes for a quick and peaceful solution to the Middle East crisis after Iraqi President Saddam Hussein said overnight that he would free all hostages in Iraq and Kuwait. Trade was at its highest
      2,252 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Iraq's hostage move boosts share prices
      2289 11 AP SHARE prices on the Hongkong stock exchange closed higher in heavy trading yesterday. The Hang Seng Index, the market's key indicator of blue chips, gained 36.90 points, closing at 3.163.69. Turnover amounted to HK51.596 billion (US$2O4 million), up from Thursday's HK51.179 billion (US$l5l
      AP  -  2,289 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      25 11 THINK! Before you make your move, read EXECUTIVE APPOINTMENTS Business Times A lively way with words IDIOMS Available at all good bookshops Federal Publication* T_
      25 words
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  • REGIONAL STOCK MARKETS
    • Aussie stocks end higher on Gulf hopes
      • Article
        INDICES & TURNOVER
        104 12 INDICES TURNOVER lose IK* 7 Previous SYDNEY Ml Ordinaries Index Ml Indusl rials Index Ml Resources Index Turnover (milium) l.335> 2JMI >» M) 7 l.t.'H 1.9*. 4 H02.2 130. H t 12 1 2 2> t S 1 BANGKOK SfcT Index rurnovei (million) 624 6s 607 15 2.01)0.0 17 so
        104 words
      • Article
        MORGAN STANLEY CAPITAL INTERNATIONAL INDICES
        380 12 In local currency In S$ In I'SS S day S year •>% day S year S day S year DEC 6 Index change change change change change change World 360.2 1.8 -22.5 2.2 -25.3 2.3 -17.4 |EAFE 469 8 19 -31.0 30 -30.7 3.1 -23.4
        380 words
      • Article
        AUSTRALIA
        1037 12 \l SI K ALIAN shares ended the week ii a high note, boosted by a surge on he Tokyo market following Saddam I ossein's promise to release all hostages ii Iraq. Brokers said local and offshore invests demonstrated good support for seated industrials. "Today was a bit ot a
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      • Article
        BANGKOK
        695 12 THAI stocks finished higher across the board yesterdav on hopes of a peaceful (iulf solution despite fresh rumours of local political uncertainty, brokers said. Thev estimated the composite SET Index gained 17.50 points to close at 624.65. "Local investors were very active despite rumours of political uncertainty. There was
        695 words
      • Article
        TAIPEI
        373 12 TAIWAN sux'ks finished higher on re- sumed investor hopes ot a peaceful rcstv lution to the (iulf crisis, dealers said. Ihe weighted index rose 207.95 points, or 4.4 per cent, to linish at 4.949.81 compared with Thursday's 4 741.86 close. Turnover rose to NT$B9.4 billion from NTS 104.8 billion.
        373 words
      • Article
        SEOUL
        799 12 I ME Seoul stocks index broke 730 as individuals continued to support a year-end rally despite active eflorts by institutions to take profits, brokers said. The composite stock index rose 13.14 points to 730.96. with volume active at 389.5 billion won against 406 billion 011 Thursday. Rises overwhelmed falls
        799 words
      • Article
        MANILA
        526 12 BAR(iAIN-HUNTIN(i and positioning in selected oil stocks lifted Philippine share prices yesterday amidst a public uproar over the sharp rise in petrol prices. The Manila Stock Exchange composite index firmed 3.88 points to close at 621.99. The combined volume at the two bourses eased to 2.01 billion shares worth
        526 words
      • Article
        NEW ZEALAND
        320 12 THE New Zealand share market ended the week sharply higher, after reaching a new six-year low on Thursday, as brokers took heart from lower interest rates and the weaker local dollar. The Barclays Index estimate rose 21.31 points to 1,254.08 after opening the week at 1.265.93. There were
        320 words
      • Article
        JAKARTA
        614 12 THE Jakarta Stock Exchange settled back into its habitual torpor yesterday after new rules caused a brief flurry of excitement on Thursday. The index eased 0.25 points to 380.72 in yesterday's half-day trade. Dealers said they thought privatisation of the exchange due on Jan 2 would make no immediate
        614 words
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  • WORLD STOCK MARKETS
    • Sagging bond prices clip Dow advance
      • Article, Illustration
        NEW YORK
        1039 13 THE US STOCK market's euphoric rally on further hints of peace in the Mid-east proved short-lived as weakness in IBM, a retreat in bank shares and sagging bond prices clipped a blue chip advance on Thursday. The Dow Jones industrial average closed the day with a loss of
        1,039 words
      • Article, Illustration
        LONDON
        792 13 UK SHARES were modestly firmer at yesterday's midsession alter steady institutional buying helped the market rally from an opening fall. News Iraq's parliament had confirmed the 2.600 hostages held in Iraq and Kuwait could leave helped suppress fears of a Gulf war. Instead, dealers said the market was concentrating
        792 words
      • Article
        AMSTERDAM
        362 13 DUTCH shares were mostly easier in moderate early trade yesterday due to unwinding of positions ahead ot the weekend and profit taking, after Thursday's rise on Iraqi president Saddam Hussein's pledge to free foreign hostages. "Profit-taking will set the tone today," said a trader. At 0950 GMT, the CBS
        362 words
      • Article
        BRUSSELS
        138 13 BELGIAN shares opened generally lower in light trading yesterday, reversing part of Thursday s strong surge. The stocks had risen about three per cent on an order backlog and euphoria about Iraq's plans to release all hostages. Yesterday's recovery was not founded. It's normal that shares went down a
        138 words
      • Article
        JOHANNESBURG
        390 13 THE Johannesburg stock market was generally little changed in subdued yesterday's morning trading after a firm week-long performance, dealers said. Good institutional support for quality shares has kept the market on the boil all week and some profit-taking can be expected ahead of the weekend, they said. At 10:15
        390 words
      • Article
        FRANKFURT
        254 13 HEIGHTENED expectations that the dispute in the Gulf will be resolved peacefully and continued optimism about last weekend's reelection of German Chancellor Helmut Kohl gave German share prices another lift on Fn fhc 30-share DAX index finished 8.17 points higher at 1,512.84, its fifth gain in the last six
        254 words
      • Article
        MILAN
        175 13 ITALIAN stocks extended Thursday's gains at yesterday's opening, with sentiment underpinned by Iraq's planned release of all foreign hostages, but then a wave of profit taking reduced the upswing near midday, brokers said. The MIB index was shown 1.3 per cent higher at 1030 GMT. "We've now returned to
        175 words
      • Article
        STOCKHOLM
        146 13 PRICES on the Stockholm bourse recovered from an early morning dip yesterday and were slightly firmer by mid-morning, but dealers said Thursday's euphoria after Iraq said it would release all hostages had worn off. The bourse general index rose by 0.12 per cent to 903.31 in moderate turnover of
        146 words
      • Article
        Lock icon ZURICH
        281 13 Reuter SWISS share prices opened little changed in quiet trading yesterday as investors remained sidelined ahead of the weekend, dealers said. On Thursday, the bourse closed sharply higher on news of hostages release. The SMI index of leading shares edged down one point to 1,449.3 in the first 30
        Reuter  -  281 words
      • Article
        PARIS
        192 13 THE Paris bourse began modestly higher yesterday, extending 1.99 per cent gain, after the exchange's opening was delayed one hour and 45 minutes by technical problems. The CAC-40 index started 5.20 points up, or 0.31 per cent, at 1,698.72. But the market quickly trimmed its gains, trading at 1.696.70.
        192 words
      • Article
        TORONTO
        220 13 TORONTO stocks closed slightly higher in heavy volume yesterday after a day of topsy-turvy trade dominated hy news from the Gulf, dealers said. The composite index advanced 12.85 to finish at 3,239.37 on volume of 33.7 million. Advances edged declines 321 to 308. Ten of the TSE's 14 indices
        220 words
      • Article
        Untitled
        44 13 Vienna Dec 6 Aseh •\kg Holding 3400 unch E. Allgcm (I'rcO ***** 150 Jungbun/1 8600 150 Lacndcrbank (I'rcO 520 +20 Lcnzing 1441) +40 Lcykam 405 +10 Montana ***** unch Ocstcrr. Brau 3490 +90 Semperit 126 +6 Stcyr 162 -3 V'citschcr +7 Source: Austrian Laenderbank
        44 words
      • Article
        INDICES & TURNOVER
        93 13 INDICES TURNOVER NEW YORK (lose Hroiuus Dec 6 |)o» Jones NYSF. Financial S& 1' 500 Turnover (million) 2.602 48 2.610 39 123.47 124 5 329.07 3299 256.4 206 -7.92 1 06 -085 LONDON Financial Times V) FTSF. It*) Turnover (million) 1.717.9 2.177.5 559.3 1.689 61 2.***** 5209 28.3 24 9
        93 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback opens lower in Europe as Gulf tensions ease
      1141 14 REPORTS THE US DOLLAR tell against major foreign currcncies yesterday in early European trading. Gold prices were higher. Traders predicted the dollar would tall further as tensions eased in the Middle East and amid concerns about the US economy. "1 see
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    • Article
      INTERBANK FOREX RATES
      398 14 Cross rates dcc? IJSS SS MS l)m Yen SFr AS NZS USS 1.7175 2.6970 1.4885 132.55 0.5159 1.2720 1.2987 1.666? SS 0.5822 1.5703 ***** 0.7718 0 3004 0.7406 0.7562 0.9^04 MS 0.3708 63.68 0.5519 0 4915 0.1913 0.4716 0.4815 0 6180 Dm 0.6718 1.1538 1.8119 89.05 0.3466
      398 words
    • Article
      MONEY MARKET
      569 14 Interbank rates SS Hid (Mfej Overnight 5 7/8 6 1-month 5 5/16 5 7/16 2-month 5 7/16 5 9/16 3-month 5 *>/16 5 11/16 Overnight mode: 4-15/16 t SS Hid Offer 7 days 7 1/2 7 5/8 1 month 8 1/4 8 3/8 2 months 8 8 1/8
      569 words
    • Article
      Lock icon EC monetary meeting to fill void in middle phase
      626 14 Reuter IF THE European Community's three-stage plan to create a single currency were a sandwich, it wouldn't have much filling. Its first and last phases have clearly defined goals. The first, which started on July 1, calls for all currencies to
      Reuter  -  626 words
    • Article
      FINANCIAL FUTURES
      1257 14 SIMEX Open High Low Sell Est Vol Op/lnt Vol IXx 90 92.03 92.06 92.02 92.06 2100 ***** 1420 Mar 91 92.49 92.50 92.48 92.49 7626 ***** 3417 Jun 91 92.58 92.59 92.56 92.58 2100 8351 1027 Sep 91 92.52 92.52 92.49 92.51 500 2344 266 Dee 91 92.26
      1,257 words
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  • COMMODITIES
    • Article
      Lock icon Subroto sees oil topping US$50 if war breaks out
      355 15 Reuter OIL PRICES fell sharply on peace hopes in the Persian Gulf but Opec's SecretaryGeneral warned that the market was far from stable and prices would soar to more than US$5O a barrel if war broke out. "If there is a
      Reuter  -  355 words
    • Article
      Lock icon Sale of oil from US reserve goes fairly smoothly
      382 15 NYT THE last deliveries of oil sold from the nation's Strategic Petroleum Reserve were made on Sunday, according to the US Energy Department. The relatively small sale went fairly smoothly, but it did uncover some problems that might hamper bigger efforts
      NYT  -  382 words
    • Article
      Higher LME close helps KL tin market to recover
      810 15 THE TIN PRICE on the Kuala Lumpur Tin Market rccovcrcd five sen to MS 15.15 per kg yesterday in line with the better performance on the London Metal Exchange overnight. Dealers said the lack of fresh incentives and sluggish offtake continued
      810 words
    • Article
      PRICES
      1448 15 Rubber Dec? WBOithMw) S cents/kg Noon Close Int 1 RSS Prompt I5I.75/I52.75N 151.75/152.75 Int I RSS Jan 91 151.00/151.50 151.00/151.SON Int 1 RSS Feb 151 25/151.75 151 25/151.75N Int 2 RSS OP 147 00/149.00N 147 00/I49.00N Int 3 RSS OP 142 00/144.00N 142.00/144.00N Int 4 RSS OP 138 00/140.00N
      1,448 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      7 15 Executive Jobs every Saturday in Business Times
      7 words
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      Page 15 Advertisements Column 2
      110 15 NOTICE Technology in BT every Tuesday Read Chartpoint, a guide to investing in the stock market. Every Saturday in Business Times FOR SUCCESSFUL MANAGEMENT OF YOUR BUggS I Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews.
      110 words
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      Page 15 Advertisements Column 3
      80 15 HOCK CHUAN INVESTMENT (S PORE) PTE. LTD. (Members' Voluntary Wincing-Up) NOTICE OF FINAL GENERAL MEETING Notice hereby given pursuant to Section 306 (1)4 (2) of the Cornpaniee Act. Cap. 50. that a Final Meeting al the Company vrfl be held at 101 Upper Croes Street *04-43 People Park Centre. Singapore
      80 words
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  • Article
    Beijing beginning to see need for new HK airport
    289 16  -  From Catherine Ong in HONKONG CHINA is coming round to supporting the multi-billion dollar airport project planned for Hongkong, Governor Sir David Wilson said yesterday. In a speech made at a seminar in London, Sir David indicated that Beijing was quite
    289 words
  • Article
    Murata looks to setting up more Asian facilities
    420 16  -  A growing pivotal role for Singapore By Genevieve Cua MURATA Manufacturing, one of the world's largest components makers, is eyeing the possibility of setting up more production facilities in Asia. Murata executive vice-president Yasutaka Murata told BT yesterday that a core team
    420 words
  • Article
    Lock icon Retail giant promises to back Shuwa
    235 16 AFP JAPAN'S retail giant Daiei Inc yesterday pledged to give all-out financial support to Shuwa Corp, a Tokyo-based real estate company hit by credit squeeze due to excessive stock purchases and aggressive real estate investments in the US and Europe. The pledge was announced
    AFP  -  235 words
  • Article
    Lock icon Asian markets seen strong in 1991 if no war
    487 16 Reuter STOCK MARKETS in Asia will make a strong recovery next year if a Gulf war is averted, delegates at a meeting of East Asian stock exchanges in Manila said. They forecast that Asian stock markets would outperform those of Europe
    Reuter  -  487 words
  • Article
    Lock icon Asia-Pacific bourses form alliance
    145 16 Reuter FOURTEEN stock exchanges in Asia, Australia, and New Zealand agreed to strengthen links by signing an East Asian and Oceanic Stock Exchanges Federation charter at the end of a two-day meeting in Manila. "The objective is the development of the securities markets of the member
    Reuter  -  145 words
  • Article, Illustration
    Tunku laid to rest in Alor Star
    408 16 MALAYSIA'S "Father of Independence" and first prime minister, Tunku Abdul Rahman, was buried yesterday after thousands filed past his body in Parliament to pay their last respects. The 87-year-old Tunku died at the General Hospital's Intensive Care Unit on Thursday night. By his
    408 words
  • Article
    AT&T may employ non-Americans on new cable ships
    332 16  -  By Dexter Lee AMERICAN Telephone and Telegraph (AT&T) looks poised to break a 27-year-old tradition and start employing non-American officers and crews to man its new cable ships. The move will cut manning costs of the new ships by about half, thereby
    332 words
  • Article
    Lock icon Pertamina might quit Shell project
    183 16 Reuter INDONESIA'S state-owned oil company Pertamina is considering withdrawing from Royal Dutch Petroleum Co's (Shell) US$l.7 billion olefin project, Pertamina processing director Tabrani Ismail said, threatening supplies of raw materials and the future of the project. "We have no cash for the equity, no spare
    Reuter  -  183 words
  • Page 16 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      Some more mountains to climb
      1436 17  -  After 22 years in Singapore, spent steering the Sembawang Group and playing industry captain, C N Watson headed home last night for a new job in London. Here, he talks to Anna Teo about something more important his pursuit of happiness. Anna Teo CN WATSON
      1,436 words
    • STRAWS IN THE WIND
      • Article
        Better late than never
        61 17 THE water supply in one HDB estate was abruptly cut off when a water main burst. Two hours later, PUB officers went from home to home, distributing leaflets which told residents that the water supply would be temporarily suspended. "Better late than never," quipped one irate
        61 words
      • Article
        Male-order
        79 17 A COLLEAGUE was sent into a minor tizzy the other day when he received a beautiful crystal rose pendant in the mail. He racked his brain as to why any company should send it to him. Speculation that it was a bribe spread through the office until, two hours
        79 words
      • Article
        The gift of age
        42 17 ACCORDING to an American magazine, the term "senior citizen" is passe. Now, the elderly are known as the "chronologically-gifted". And they don't live in old folks' homes, either. They dwell in a "senior congregate-living community for the chrono-logically-gifted"
        42 words
      • Article
        Illegal trap?
        54 17 A HOTEL in Jakarta has this advice for guests: "Do not associate with solicitors around the hotel". It didn't explain why it was all right to mix with barristers. Do you have a straw to shape with us? Send your contributions to: Lifestyle Editor, Business Times, 390 fCim
        54 words
    • OPINIONS
      • Article
        When being young is not always an advantage
        1016 18  -  SlA's high cabin crew turnover may affect its standard of service, says John Tan John Tan The writer is a BT journalist THERE has been a change in the way Singapore Airlines advertises itself on TV. The attractive Singapore Girl is still
        1,016 words
      • Article
        Retrenchment compensation is not subject to income tax
        123 18  -  LETTERS TO THE EDITOR Elaine Ng Senior Consultant v-; William M Mercer (Singapore) I REFER to my article "Cushioning the shock of retrenchment" (BT, Dec 1-& 3-would like to point out that my text -stated that "Retrenchment salary in lieu of notice
        123 words
      • Article
        Stored-value tickets at $50?
        51 18  -  Joyce Yuling Lin AS a regular MRT commuter I have hitherto found the store-valued ticket a time-saving convenience. D W Distant's letter (BT, Nov 24-25) paints a horrific scenario especially during rush periods. Will the authorities consider issuing $50 tickets to cut down on queues? Yours
        51 words
      • Article
        On Christmas and Santa Claus
        154 18  -  G G Hayward Executive Director Singapore International Chamber of Commerce I REFER to the letter from Mr Alfred Chan (BT, Nov 24) enquiring what Santa Claus has to do with Christmas. Mr Chan is correct in saying that this name does not appear in the
        154 words
      • Article, Illustration
        Prime minister with a heart
        1013 18  -  Malaysia's first prime minister, Tunku Abdul Rahman, who died on Thursday night, took time from his busy schedule to keep in touch with the man in the street. David Chew recalls the day the Tunku paid a surprise visit to his sick father. It is
        1,013 words
    • SPORTS
      • Article, Illustration
        Lock icon High-tech revolution hits the slopes
        795 19  -  Janet Nelson reports on the latest in skis Janet Nelson IHT NEW technology in the design and construction of skis over the last year has set the industry abuzz. Some say the innovations represent the greatest revolution since Howard Head invented the metal ski 40
        IHT  -  795 words
      • SIDE LINES
        • Article
          Magna wins contract from Lamborghini
          96 19 MAGNA INTERNATIONAL Inc said in Toronto on Thursday it recently won a contract from Lamborghini Spa to provide composite plastic bodies for a sports car. Magna chief executive officer Manfred Gingl declined to say how much the contract was worth, when production would start or
          96 words
        • Article
          Rookies take first-round lead
          114 19 GREG BRUCKNER and Kirk Triplett, 1990 PGA rookies, tied Rocco Mediate and Jim Carter for a one-stroke lead on Thursday after the first round of the US$l million Sazale Classic championship being held in Wellington, Florida. Triplett and Bruckner worked well together to produce 10 birdies
          114 words
        • Article
          Tyson looking to regain title
          144 19 MIKE TYSON is viewing his fight against Alex Stewart in Atlantic City, New Jersey today as the last step towards getting another shot at the world heavyweight title he lost earlier this year to James "Buster" Douglas. "I'm not the least worried about regaining the
          144 words
        • Article
          Drug testing to be stepped up
          90 19 TOP GERMAN sports officials said in Berlin on Thursday that drug testing will be radically stepped up in all sports, following allegations of massive doping by German athletes. Hans Hansen, president of the German Sports Federation, outlined a 12-point programme to combat drug use
          90 words
      • Article
        Lock icon New pit road procedures for stock car racing
        359 19 AP NASCAR president Bill France Jr, announced in New York on Thursday that the stock car sanctioning body will implement new pit road procedures in 1991 in an effort to make pit stops safer for drivers, crewmen and officials. The announcement comes
        AP  -  359 words
    • EPICURE
      • Article, Illustration
        Lock icon Pitter-patter pasta
        891 20  -  Quek Swee Peng chooses classic Italian fare at a newish restaurant in Tanjong Pagar Quek Swee Peng DA PAOLO does not pretend to be a glorified, gastronomic cafeteria. Instead, it prides itself on being a full-fledged restaurant situated amidst the throbbing traffic of a city fringing a city
        Punch  -  891 words
    • LIFESTYLE 1
      • Article, Illustration
        All I want for Christmas is a great wine-list
        889 21  -  WINE By N K Yong FOR the past two years at this time, this column suggests wines for the festive season. Looking over those efforts I think it would be boring for both reader and writer to do the same thing
        889 words
      • Article, Illustration
        How to bid a Grand Slam
        381 21  -  BRIDGE By Sybil Holloway THIS MONSTER of a deal turned up during a Hampshire county league match. It was reported by David Bird who held the South card himself. Bird bid only five clubs on the first round, confident that there would be more
        381 words
      • Article, Illustration
        Lock icon The truth about company dinners
        916 21  -  A cherry that's garnished more cold dishes at office bashes than it cares to count, feeds Jaime Lye with some choice morsels. Jaime Lye SCENE: A hotel function room. Balloons, Moe AlkafT and other paraphernalia associated with company functions are laid out. In the kitchen
        Punch  -  916 words
      • Article, Illustration
        An update on the jazz scene
        345 22  -  CD Review By RINGO LIEW WITH its cast of larger-than-life characters and a story line marked with triumphant highs as well as tragic lows, jazz would seem to be a natural subject for the big screen. The latest film-maker to take up the challenge
        345 words
      • Article
        Magic moments with some legendary names
        496 22 FOR those who like their jazz straight, no chaser, the Compact Jazz series on the Verve label offers a good introduction to the greats be they solo acts, groups or simply collaborations. Here is a sampling: CHARLIE PARKER: Charlie Parker Since the alto saxophonist's
        496 words
      • Article, Illustration
        Union of London style and American rebellion
        526 22  -  Samuel Ee checks out the appeal of British Knights, a brand of sneakers that has become a status symbol in the United States Samuel Ee ONCE upon a long time ago, there were a few chaps in chain mail sitting at a round
        526 words
    • PURSUITS
      • Article, Illustration
        Let them eat cake!
        1032 23  -  Self-confessed cake-aholic Lin Xue Ling drools over the offerings at La Glace, one of the oldest and best-loved confectioners in Denmark Lin Xue Ling CAKE has always been a weakness. The more exquisitely calorific, the better. Like any sensible Singaporean, I regard diets and other forms
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    • JOBS
      • Article, Illustration
        Lock icon Re-writing the rat race rules to tap talented women
        1126 24  -  A recent UK study on women managers suggests that organisations which find ways of tapping the skills of women will gain a competitive advantage, reports, Diane Summers. Diane Summers FT Wilit,: D ter employment in the United Kingdom in similar numbers
        FT; Source: NEDO estimates  -  1,126 words
      • Article, Illustration
        Headhunting firm sets its sight on new targets
        395 24  -  Korn-Ferry International is gearing itself for the changes ahead by branching into the human resource business. Chuang Peck Ming reports. Chuang Peck Ming KORN-FERRY International is on the acquisition and merger trail. The United Statesbased headhunting firm is in a hurry to
        395 words
      • Article, Illustration
        EXECUTIVE MOVES
        311 24 Daniel Quek Li Yee has been appointed corporate affairs manager of British-American Tobacco Company (Singapore) Limited. He will be responsible for managing the company's corporate citizenship programmes, which include corporate sponsorships and community relations. Prior to this, he was an education officer with the Ministry of Education for
        311 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      924 25 City Flight ETA Flight ETD AMaMa SQ228 1910 QF82 2115 QF81 2010 AjmtanJani SQ23 1345 KL838 2115 KL837 1505 SQ24 2200 0A47I 0015 kHM—i NZ21 1720 NZ22 1830 SQ338 2030 BA12 2200 ■iHlimr- GA525 1450 Baatfar Sari SQ182 0915 111 SQ181 1410 BaaCkak QF62 1135 CI664
      924 words
    • THE TRAVEL PAGE
      • Article, Illustration
        Always better to play it safe
        682 25 LETTER FROM HONGKONG IT LOOKED like a normal dedication ceremony. Gentlemen in fancy suits, shiny shoes and hard hats had gathered around a construction site in Hongkong. The chairman of Hongkong's then new Mass Transit Railway (MTR) did the earthy honours and broke ground
        682 words
      • Article
        MONEY CHANGER RATES
        150 25 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3200 1.3400 Canadian dollar 1.4630 1.4830 NZ dollar 1.0200 1.0700 Sterling pound 3.3200 3.3400 US dollar 1.7140 1.7240 Local dollan to 100 units of foreip cuiitucy Austrian schilling 16.10 17.10
        150 words
      • Article
        WORLD TRADE EXHIBITIONS
        68 25 Duration Title Venue Organiser Jan ll-U International NordSalon 1991 Household Villepinte International Appliances Trade Exhibition Professional Show Centre des Arts Menagers Jan 16-20 Tourism Netherlands Koninklijke (31)30/*****1 Recreation Fair Nedertandse Jaarbeurs Duration Title Venue Organiser Td Jan 19-27 International Germany Stuttgarter (46)711/*****) Exhibition For Messe Und Caravaning,
        68 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Lock icon Canadian dollar likely to remain firm
        1191 26  -  Higher oil prices have benefited Canada, but they have also unsettled the Canadian dollar, says E P Neufeld E P Neufeld Dr EP Neufeld is the executive vice-president, economics and corporate affairs, Royal Bank of Canada SINCE my last report, the Canadian dollar has
        Source: Royal Bank:Economic-Treasury & Financial Markets  -  1,191 words
      • Article
        Advantages of a charitable trust
        543 26  -  Charitable trusts are a good and effective way to help the poor, says Dora Cheok Dora Cheok The writer is the, legal/private clients manager of Standard Chartered Bank Trustee Singapore THE philanthropic nature of Singaporeans has been demonstrated many times. They have time and again
        543 words
      • DON'T QUOTE ME!
        • Article
          Corporate raider in samurai land
          254 27 LIKE ANOTHER feared corporate raider, T Boone Pickens, Mr Oei Hong Leong is making a foray into the Japanese corporate market. Unlike Pickens, however, he is not going in alone. We hear that not only is PT Indah Kiat behind his move into Honshu Paper,
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        • Article
          Inside story
          66 27 THE QUOTE of the week goes to an anonymous fund manager in Hongkong at a presentation by Wells Fargo on "tactical asset allocation", a highly quantitative investment method. According to Newsweek, the fund manager told the Wells Fargo guys that such a method does not work in Hongkong,
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      • Article
        The hongs hold sway in Hongkong
        763 27  -  The British Empire lingers in the Colony's corporate world, reports Catherine Ong Catherine Ong THE hongs are a subject that seldom failed to arouse media and stock market attention in Hongkong. Since the British Royal Navy, at the behest of opium traders, seized Hongkong
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      • Article
        US stock markets have bottomed out: economist
        604 27 WHEN every economist and stock market analyst is busy dishing out doomsday scenarios about the grim future in store for the American economy and markets, Mr Heiko H Thieme offers a more hopeful outlook. Writing in the Deutsche Bank Capital Corporation newsletter in
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      • Article, Illustration
        Lock icon Perhaps it's time to pick up some bargains
        444 27  -  CHARI^ By Najeeb Jarhom The writer is the research manager of Fraser Roach Co Pte Ltd THIS WEEK'S stron-ger-than-expected rally should continue with intermittent corrections, if cash-flush fund managers, under pressure to re-enter the market, scramble in. So far their presence has
        Source: Fraser Roach & Co  -  444 words
      • Article, Illustration
        Global markets falling prey to bear charge, says Fuller
        681 27  -  Is the market heading for boom or bust? S N Vasuki considers two views S N Vasuki W ullerMoney, the interri national investment M. newsletter published from London by Mr David Fuller and Chart Analysis Ltd, has some disturbing things to
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    • TIME OFF
      • Article
        THEATRE
        248 28 SSO Concert Greek pianist Elena Mouzalas performs Brahms' Academic Festival Overture Op 80 and Theodorakis' Piano Concerto, among others. Victoria Concert Hall, today at 8.15pm. Yuletide Symphony Concert presented by the NUS Concert Orchestra. The programme includes pieces by Brahms, Schubert, Tchaikovsky as well as Christmas evergreens. Victoria Concert
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        EXHIBITIONS
        300 28  -  Compiled by K Jayanti Chine de Commando Chinese Expert Porcelain from the Royal Museums of Art and History, Brussels Exhibition of Chinese Export Porcelain which provides the viewer with a glimpse of an intriguing chapter in the history of East-West trade, and an appreciation of the part played by
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    • Article, Illustration
      CINEMA
      545 28 Air America. They thought this movie would sell with Mel Gibson and Robert Downey Jr's names in the credits, but apparently some people do prefer movies with plots, which is why this flick about one pilot and his young protege crashlanded where the critics were concerned. Tonight midnight at
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      35 17 i HI I THE B(fobtfßßY 'II M'CH COLLECT! 0 I Jjtkdk M J* A 7""'. -jcffi* I J *£m*M > I *v>. w y jCJ^.i i t> tC 2^v >, BuAjffys '^^2 Spiff i\ nu« %gj^£ ■—■^OKJ^bJ
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      91 18 BT welcomes letters from you. Address them to: The Editor, Business Times, 390 Kim Seng Rd, Spore 0923. Letters should include your contact numbers. Sharper Than Ever Sll\RP BUSINESS MOVES DEMAND SHIR I STVIH) KIR III! \< I lON 111 l lONUMPOMIO \RROW Ml IKI —Arrows 4f ham 1 4
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      53 18 DOONESBURY BY GARRY TRUDEAU he wontee just mjthnothe MORIJN UMLLTHEPRE*- NO. ABSOLUTELY NOT. IMRPS HE'LL BE 6PEAKJN6 OFCOURSE. mt.ONU nmli'FROM NOW ON, YOU'LL FQOM THE HEART. I MEAN, WE RE YOU JUST IN A MANNER AW nr UK BEHEARNGTHEPRES/- TALXJN 1 THE HCRS&S MOUTH HB&, HIS MOUTH- Of SPEAKING H|L
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      35 19 FEEL A FILA FIL* SPORTS AND LEISUREWEAR. #01-01, ORCHARD EMERALD, 218 ORCHARD RO (OPPOSITE SOMERSET MRT STATION). TEL: *****54. #81-12, LUCKY PLAZA, 304 ORCHARD RO. TEL: *****85. #01-32, WISMA ATRIA, 435 ORCHARD RD. TEL: *****59
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      966 20 WHERE TO WINE. DINE AND ENTERTAIN WHERETO WINE, PINE AND ENTERTAIN WHERE TO WINE, DINE 1 i fjjsaiMi Have Poolside "BBQ Buffet" Under the Stars! k Now, besides our weekend steamboat buffet is the new %jk "all-you-can-eat" Barbeque Bu i et rzr.Mii^' 1 Adult Steamboat Buffet* Adult: $1230++ Child: $B++
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      Page 20 Advertisements Column 2
      353 20 AT Amidst Imperial splendour, our chefs /JB stage their hlghly-acclalmed performance |Pk/J r 'jmWf of legendary Beting cuisine to the satis- £jjKfj|| faction of demanding dlners.To guarantee j TWfIW your place amongst the discerning, make your reservations early nnTj W Lunch 12pm to 2 30pm HA Dinner: 7pm to 10.30pm
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      278 21 AND ENTERTAIN Brunch Is A Family Affair Every Sunday. SUNDAY JIT BRUNCH: iiam WM If ADULTS UkA Km V i,ioc+ rv jKfjS gv* jHki children Every Sunday, Hubertus Grill becomes the venue tor a great Sunday family outing. A scrumptious buffet spread is laid out for both grow r n-ups
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      Page 21 Advertisements Column 2
      112 21 Refrigerated Wine Cellar i i i I I < i r r f J i i I Your perfect answer to wine storage in the tropics Model 999 Capacity up lo 144 bottles Model 4<K) Capacity up to 60 bottles Available ex-stock from the Sole Agent: 1 BONIABLE i BONTABLE
      112 words
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      26 22 iuBMBMMEI «£HN^IK^^^HH9^4 >9H|'JWT7 iBt?tt^9^ViHMI^BE£AfIBIIEM I 'fr i' i .^■^aitea£>J^H T^BT miliiMNT>t JO^jKHR^HMbw^hSMHSBH^KIK^ USSBk~ Available exclusively at: The Paragon. The Shopping Gallery at the Hilton, Palais Renaissance.
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      91 24 TEL E P HONE: 730-5937/5902/5942 FAX: 734-4982 A leading International five-star hotel in Taipei, Taiwan has vacancy for top executive Management position (Deputy General Manager) with the following qualifications: Male or Female, Caucasian, age 35 and above College/University graduated Minimum 5 years experience in Hotel Management Good command of English,
      91 words
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      Page 24 Advertisements Column 2
      237 24 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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      68 25 HAVE A DATE «r. •V At lunchtime today, you can. gf With Quek Chin Yeow. He's Bachelor Boy No. 3. in our series by columnist Irene Ng. [Vf With Over eaters Anonymous. That's a group trying to help themselves. gf With Malaysia Cup coaches. See what they have in store
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      289 25 1 Core has been smashed, crushed (11) j^H 9 Nothing given to the boy as 9~ a gift in evidence of affec- ill!!!' I 10 Man at home in an African country (5) U 11 Song and dance advertiseH 12 Australian capital ship? (8) 13 Exactly what is needed when
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      208 25 Singapore Outlook: Cloudy with intermittent rain, heavy at times. Forecast Maximum temperature 26.0"C Assoc humidity 93% Minimum temperature 23.TC Assoc humidity 100% Hours of sunshine 0.00 Rainfall in mm 21.7 Rainfall this month 23.4 Rainy days this month 2 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 22/15 Windy Bangkok 28/18 Fair
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      20 25 i should Neveß rvc oust h£*rd Tmc 6>rv»mg or "Thc rvl let cr u>fM4c sonnpHiNiG thpct hounds OVCR RT 0
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      820 26 GOOD FORTUNE* PROSPERITY HONG leong FINANCE m? TAATS tv<7rt M HOME ONE OR MORE OF £9§fi Mjd MORE FREE GIFTS 4*oB ITEMS CT>S| jcj i2mrt»~]~~femths philips gift items* vsdob More Prizes In Our Grand Lucky Draw V' St I. Kill SK.OOO PnctrtU«l» A rfn> "V SOW SVtJJOO fcavfcuK/Solar Cad CafcalM
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      Page 27 Advertisements Column 1
      75 27 fOR WHO, WHAT, WHERE AND WHEN MARK^^^ ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in public relations,
      75 words
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      Page 27 Advertisements Column 2
      40 27 Great Eastern Life has over 80 years of experience and the solid back-up of assets of over M As the leading local life insurer, we 're committed m to taking care of you, now and into the 21st century. m»
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      1653 28 TODAY'S TV 8.00 Tlm Adventures «f Terry 1 Ruipin. g3O YMHtg Universe. November 1828,3.05pm, Asian Business Report, 5 Md rwlh SBC 5 8.30pm, SBC 12 10 05 Hadts NaM. It's colonial government- Included in this edition are a r 10.10 tn« Lipid Of s»«epy Hoi bashing time. This Indone- report
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      556 28 MOVIES ON TV The Elusive Pimpernel, Mon, Marcello is one of those in--10.30pm, SBC 12 tense individuals, who while While the ordinary buffoon he doesn't wake up thinking may think the title refers to a he's a Kafkaesque bug, does zit which is difficult to locate, allow himself to be
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