The Business Times, 23 March 1991

Total Pages: 30
1 30 The Business Times
  • 10 1 BusinessTimes MCI (P) 16/12/90 Weekend Edition, March 23-24 1991 75*
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  • NEWS & MARKETS SUMMARY
    • 58 1 FRANCE and Germany yesterday drafted a two-stage timetable for the creation of a European Community central bank, and pressed the case for a common EC defence policy. By the end of the process, "the EC shall have a single currency" and "a
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    • 32 1 THE New York Stock Exchange opened lower yesterday, with the Dow Jones index of 30 leading industrials posting a 10.15-point drop to 2,845.30 in the first five minutes of trading.
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    • 40 1 LONDON share prices languished yesterday near the day's lows after news of a smaller-than-expected '/z-point cut in UK base rates. By 1322 GMT, the FTSE index was 20.4 points off at 2,454:4, having touched a low of 2,449.1.
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    • 33 1 SHANGRI-LA Hotel's aftertax profit for 1990 rose by aboat 20 per cent to $32.63 milHon, boosted by a $6.12 million dividend windfall from its investment in a Hongkong hotel. Page 3
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    • 22 1 SINGAPORE AEROSPACE has surpassed the performance forecast it promised new shareholders when the company went public last July. Page 5
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    • 29 1 THE MINISTRY of Information and the Arts says censorship guidelines are being relaxed because of Singaporeans' growing exposure to the ways of the world Page 2
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    • 37 1 THE BUSH Administration says the US economy should come out of recession soon, by late-spring or early-summer, as the Joint Economic Committee of Congress urged a further cut in interest rates Page 9
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    • Article, Illustration
      29 1 Friday Chance BT-MGA 729.86 +7.57 Kuala Lumpur ....588.89 +7.79 Hongkong 3,716.15 +54.99 Tokyo 26,613.19 +163.84 Sydney 1427.2 +2.5 lliursday Change New York 2,855.45 -16.58 London 2,474.8 +33.6
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    • 21 1 Exchange rates US$ S$ 1.7660 100 Yen SSI.2881 M$ SS0.6450 Money market rates Overnight 3 7/8 -1/8 3-month 4-5/8 unch
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    • 37 1 London Gotd AM fix US$362.95 US$0.85 Rubber S'pore Apr.... l43.75'/kg -1.00 M'sia Apr..... 227.00«/kg -1.00 ML Tin Tumover NA tonnes Spot M$ 14.85 /kg 0.02 Crado palm oil Turnover 1,133 lots -202 Apr M$842 /tonne -4
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  • 482 1  -  Interest expenses shoot up to almost $11 m By Lilian Ang SADDLED WITH LOSSES from its subsidiaries, food and beverage manufacturer Yeo Hiap Seng has announced a poor set of results with earnings of $1.92 million only a quarter of the previous
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  • 317 1  -  By Chuang Peck Ming YEO HIAP SENG has plans to group its North American operations under one roof and float the company in a few years' time. These businesses include the canned food company Chun King that Yeo Hiap Seng and Temasek Holdings, the
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  • 428 1  -  Turnover rises despite Gulf crisis By William Chia AMCOL HOLDINGS Ltd is proposing a one-for-three bonus issue on the back of an impressive three-fold increase in group after-tax profit to $36.14 million for the year ended Dec 31, 1990. The diversified trading-cum-leisure group
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  • 348 1  -  By Conrad Raj SENIOR STATE COUNSEL Lawrence Ang Boon Kong has taken over as head of the Commercial Affairs Department from Mr Glenn Knight. Mr Ang was said to have been introduced to CAD staff yesterday as director. Sources said Mr Ang's
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  • Page 1 Advertisements

  • HOME NEWS
    • NEWS ROUNDUP
      • 106 2 THE SECRETARY-GENERAL of the National Trades Union Congress, Mr Ong Teng Cheong, is leaving today for a five-day private visit to Taiwan. Mr Ong, who will be on leave, will be joined by several directors in the private sector including some officials
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      • 51 2 THE FOURTH Singapore International Film Festival began yesterday. Speaking at the opening ceremony. Minister for Information and the Arts BG (Res) George Yeo said that the festival had become an event in Singapore's arts and entertainment calendar and would help to build up Singapore's film
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      • 42 2 WE reported yesterday that F J Benjamin is raising a loan facility worth $123 million. This is incorrect. The company is raising only $50 million through a Ssso million/US$25 million dual currency facility. We are sorry for the error.
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    • 200 2 AS PART of a bid to increase its presence in the Asia-Pacific region, Swedish leading ball and roller bearing manufacturer, SKF, officially opened the SLS Industrial Supermarket yesterday. The 4,500-square foot supermarket at Rangoon Road, which sits on HDB land, will cater solely to
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    • 453 2  -  By Jaime Ee MOVIEGOERS will get to see more flesh with the new film classification system being introduced on July 1. But just how much is still left to the discretion of the Board of Film Censors (BFC). At a press briefing yesterday,
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    • 224 2 THE EXISTING Central Provident Fund (CPF) minimum sum of $31,600 will be increased by 3.4 per cent to $32,700 from April 1, the Ministry of Labour announced yesterday. The increase, the same as last year's Consumer Price Index rise, will maintain the value
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    • 248 2  -  Yesterday In Parliament By Shoeb Kagda THREE related bills the Land Surveyors Bill, Architects Bill, and Professional Engineers Bill were yesterday referred to the same Select Committee after being introduced for their second reading. National Development Minister S Dhanabalan, who introduced
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    • 266 2 LEGISLATION paving the way for the introduction of the weekend car scheme was approved by Parliament yesterday. Both the Road Traffic (Amendment) Bill and the Customs (Amendment No 2) Bill were steered through the third reading by Minister of State for Communications and Trade and
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  • SHIPS IN PORT
    • 566 2 HtsaI fcy Hi Berth Otrtwi Pepertge Vessel Voy Ite Berth Anwal Oepartwe Kflppd Wharves Tss 01 91/02* M4B 22.03/1515 2303/0600 Kota Akbar E-890 K32 27 03/0600 Union 3121 M4A 22 03/1515 2303/0600 KoU Eagle 4/91 K29 alongside 2203/1830 Kota Molek E 892 K31 alongside 2303/1800 JltrORg Port
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    • 1318 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Booking/Balance Rstts Slip Voy No Etb/Btr Period From To From ACX jade 31A 23/2359 I 22/1500 22/1659 22/1900 M Goncharov 04SI91 24/1200 1 Cancelled 2 22/1700 23/0659 23/0900 3 Cancelled 4 23/1200 23/1459 23/1700 P ha mm 458N 24/1445
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  • SINGAPORE – MALAYSIA COMPANY NEWS 1
    • 346 3  -  By Elaine Koh SHANGRI-LA Hotel's aftertax profit for 1990 rose by about 20 per cent to $32.63 million, boosted by a $6.12 million dividend windfall from its investment in a Hongkong hotel. The results of the hotel group whose major shareholders are the
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    • 356 3  -  By S N Vasuki SINGAPORE'S largest finance company, Hong Leong Finance, has recommended a dividend of 10 per cent for the year ended Dec 31, 1990. At the group level, Hong Leong's consolidated pre-tax profit increased 11 per cent to $65.1
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    • 295 3 THE Mass Rapid Transit Corporation, as expected, lost money again last year. Its operating deficit rose nearly 40 per cent to $130.2 million in the financial year ended March 31, 1990. The MRTC's expenditure, for its second year of operations, shot up 39 per cent to
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    • 209 3 ELECTRONICS company Acma Ltd has gained control of feedmill group Gold Coin Ltd with the payment of a cash consideration of $116 million to Gold Coin's majority shareholders Commissura AG, Interpaciflc Holding Corporation, Kudud Trust Reg, and Okapi Trust Reg. Merchant banker Wardley Ltd,
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    • 615 3  -  THE HOCK LOCK SIEW COLUMN By Lee Han Shih IF ONE thing came through loud and clear during the one-hour briefing by Yeo Hiap Seng Ltd (YHS) chairman Alan Yeo yesterday, it is that YHS in 1991 is
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    • 184 3 ORCHARD Parade Holdings, formerly Ming Court Hotel, turned in an after-tax profit of $3.55 million for the year ended Dec 31, 1990, a 31 per cent improvement over the previous year. Turnover rose by a corresponding 30 per cent to $25.71 million. The group,
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    • 274 3 THE RECEIVERS and managers of long-suspended Leong Huat Industries have been discharged. In a statement to the Stock Exchange of Singapore on Thursday, KPMG Peat Marwick said Messrs Peter Chi and Michael Ng were discharged as receivers and managers of Leong Huat on March
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    • COMPANY BRIEFS
      • 57 3 SESDAQ-listed Hiap Moh Corporation has reported a 5 per cent rise in after-tax profit to $2.1 million for the year ended Dec 31, 1990. Earnings per share amounted to 8.75 cents, up from 8.31 cents previously. Directors have recommended a final gross
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      • 47 3 MR LOH Wing Siew has been appointed deputy chairman of Far East Levingston Shipbuilding Ltd. This appointment is in addition to his current positions as the managing director of Keppel Shipyard, senior executive director of Kcppel Corporation, as well as chairman of Singmarine.
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      • 85 3 SIME Singapore Ltd said yesterday it is in discussion with Changi International Airport Services (CIAS) and McGregor Sea Air Services on a possible joint venture to construct and operate a new warehouse at Loyang Way. In response to an article on the joint venture
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      • 58 3 JOHN Govett Management (Jersey) Ltd bought 500.000 shares in Inter-Roller Engineering Ltd on Monday for a total sum of $482,778, or 96.5 cents a piece. John Govett, which is the fund manager of the Singapore Sesdaq Fund Ltd, is now interested in 1.65 million Inter-Roller shares,
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      • 42 3 HAI Sun Hup Group Ltd said yesterday that it has appointed Mr Harold C H Foo a non-executive director of the company. Mr Foo is currently the executive vice-president and regional manager of Security Pacific Asian Bank.
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      • 44 3 TRANSMARCO Ltd has appointed Chan U Seek a director of the company from March 22. Another company, Hind Hotels International Ltd said it has appointed Messrs Suresh Kumar Jhunjhnuwala, Pares Nath Agarwal and Shri Niwas Agarwal directors of the company.
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      • 55 3 UNITED Industrial Corporation has formed an audit committee consisting of Mr Lee Kim Yew, Dr Yeoh Ghim Seng and Dr Ernest Lai with effect from March 22. Its subsidiary, Singapore Land, has also formed such a committee, comprising Mr Oei Hong Leong. Mr S P Tao
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      • 121 3 AFTER seven years of losses. Lien Hoe Corporation Berhad has reported a group pre-tax profit of M 51.98 million (551.26 million) for the year ended Dec 31, 1990, against a loss of M 53.47 million in 1989. This was achieved following a significant rise in group
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      • 90 3 PUBLIC Bank Berhad is poised for further expansion, within Malaysia and internationally, its president and chief executive officer. Tan Sri Teh Hong Piow, said yesterday. In Malaysia, Public Bank would continue to develop it* core business and also Public Finance Bhd, which is in the process
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    • 380 5  -  By Dexter Lee SINGAPORE AEROSPACE has surpassed the performance forecast it promised new shareholders when the company went public last July, with a 25 per cent increase in group after-tax profits to $21.1 million. This works out to earnings of 8.7 cents a share on
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    • 430 5  -  By Jean Wee TWO GOVERNMENT bodies and locally listed Ssangyong Cement (Singapore) Ltd are developing a visual communications system (VCS) that works through personal computers (PCs). The 12-month project is a venture between Singapore Telecom, the Information Technology Institute (ITI) ot the
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    • 236 5 SEAGROATT Campbell (S&C), one of the 10 stockbroking firms approved for listing on the Kuala Lumpur Stock Exchange, will float 7.5 million shares at Ms 2 (551.20) each and will be listed under holding company Strategic Choice. Sources said S&C's paidup capital
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    • 188 5 AILING property-cum-textile group Imatex Bhd has reported continued losses for the year ended March 31,1990. The company, which released its results only on Wednesday, posted a 3 per cent increase in group operating losses before extraordinary items to M 57.6 million (Ss4.B million) from M 57.4
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    • 255 5 Bernama PJ DEVELOPMENT Holdings Berhad, through its wholly-owned subsidiary, Superville Sdn Bhd, signed an agreement on Thursday to form a joint venture company with Hongkong-based hotel management and marketing consultants, SwissBclhotel Management Ltd, to develop and manage the new Swiss Garden Hotel
      Bernama  -  255 words
  • Page 3 Advertisements
    • 141 3 FOR SALE BY TENDER Q £> Milton park BOWRAL, NEW SOUTH WALES, AUSTRALIA AjL "Australia'spremier convention destination." Championship 36 hole golf course under construction. j Nestled in 870 acres of forest and parkland the Lstate features: The Hotel accredited by the prestigious Relais et Chateuax Group as one of the
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  • Page 4 Advertisements
    • 242 4 4 "^ty^apiS^?-v ,»3&-a.%>. 4£ .r *y, v %"**>. 4 \3SK utt *"•vfy v. fffiPflf < "> £i "^il 3r »r*-i*i. -4 *ti» 4i&!.W- -'-TM £*f®> £v.T*'* sW^r'- jjj(s v #«f- >r M->, vj& sis The Golfer's Dream Set against the beauty of exotic Batam, Paradise Bay Golf Resort in Waterfront
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  • Page 5 Advertisements
    • 115 5 Are you another Alvin Tay? n Business Times, Alvin looks after the Men and women who can dissect the deals that move markets and offer investors insights interest in business, an inquiring mind, and a ancy, or business administration would be an The job is demanding. But your incisive reports
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  • REGIONAL/INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • 102 6 PI KRAKATAU Steel, Indonesia's largest steel maker, will inerease its produetion eapaeity from 1.5 million to 2.7 million tons a year with a US$7OO million (Ssl.2 billion) eredit from foreign contractors, an official said on Thursday. Junior Minister for Industry Tunky Aribowo said the
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      • 83 6 BOWATER pic, the building materials and packaging conglomerate, said its pre-tax profit for the year 1990 rose by 12.6 per cent to £113.1 million (*****.3 million) while it cut its debt-to-equity ratio to 21.6 per cent from 130.9 per cent. The dividend was raised by 13.5
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      • 63 6 DAEWOO Electronics Co Ltd, has decided to resume operation of its plant in Kwangju after workers decided to end a strike, company officials said. The plant in the south-western city was closed on March 13, five days after hundreds of union members downed tools
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      • 71 6 I RENCH construction materials and bio-activities group I afarge Coppee is investing about 100 million francs to increase production in Turkey and Morocco. A Lafarge statement said the firm set up a joint venture with Turkish group Ybitas to build a 500 tonne cement plant. Its
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      • 70 6 NATIONAL Consolidated Ltd (Natcon), a member of the Adelaide Steamship Co Ltd group, said its bankers have agreed in principle to refinance all of its loans until the end of December 1993. "These loans will be secured and they will enable the company to obtain the
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      • 77 6 BRITISH mining group RTZ Corporation said on Thursday that its net profit fell 14 per cent last year to £507 million (Ssl.6 billion) from £588 million in 1989. The result was in line with market forecasts of profit of between £487 million and £535 million. RTZ
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      • 85 6 TATE and Lyle pic said it has no plan to lift its A 53.70 (Sss) a share offer price for Australian sugar producer Bundaberg Sugar Ltd despite the shares trading above the price in recent days. "Our decision is at $3.70, it's the right
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    • 244 6 Reuter AUSTRALIA'S biggest company, the Broken Hill Pty Co (HHP), said yesterday that its quarterly profit was held down by the nation's economic woes which hit its steel division hard. BHP's net profit for the three months to February 28 rose 11.6
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    • 498 6 THAI AIRWAYS International Ltd will review its entire aircraft acquisition programme now that it is no longer subject to the national debt ceiling of US$l.5 billion (552.65 billion). The Nation reported on Thursday. However, its earlier decision to buy 23 aircraft worth 50 billion
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    • 384 6 PT TAMBANG Timah, hard hit by a sharp decline in tin prices on the world market, wants the Indonesian government to help finance its nonmining activities, said the state-owned tin mining company's director for exploration and production, Muljadi Nitiwisastro. The Jakarta Post
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    • 396 6 Reuter DU PONT CO's plan to sell half of its US$2 billion (553.5 billion) coal business will provide it with cash to maintain its aggressive expansion plans amid a weak economy, analysts said. Smith Barney analyst James Wilbur estimated Du Pont may
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    • 218 6 AFP THE RECESSION that took a stranglehold on the British economy in the second half of 1990 had a devastating effect on profitability of British companies, according to figures released on Thursday by the Central Statistical Office (CSO). In a year in which inflation peaked
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    • 535 6 Reuter LIQUIDATORS for the failed London trade house Woodhouse, Drake and Carey have sent a team to Thailand this week to try to sort out the company's outstanding raw sugar contracts, estimated by London traders to be in excess of 200,000 tonnes each
      Reuter  -  535 words
    • 288 6 Reuter TRANS World Airlines Inc chairman Carl Icahn said a way to get TWA out of its troubles, aside from selling the airline, lies in employee concessions and a prepackaged bankruptcy filing. Mr Icahn said in an interview he did not object when investor
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  • Page 6 Advertisements
    • 85 6 JONES GABLE AND COMPANY, embers of the Toronto and I Vancouver Stock Exchanges, in association with KXXL Consultants Pte. Ltd. Singapore, a Mendez Group Company, will be pleased to discuss and advise on listed and unlisted investment opportunities in Canada. A Jones Gable representative will be in Singapore from the
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    • 41 6 CEF Capital Limited Singapore Representative Office will be moving to its new premise at: 10 Collyer Quay #25-05 Ocean Building Singapore 0104 Tel: 533 1889 Fax: 533 1127 Owned jointly by Canadian Imperial Bank of Commerce and Cheung Kong (Holdings) Ltd.
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  • FINANCIAL NEWS
    • 502 7  -  By SN Vasuki DESPITE a fall in overall business volumes and operating revenues, Dresdner (South East Asia) Ltd, Dresea, posted an after-tax profit of SIS. 1 million for the year ended Dec 31, 1990, a turnaround from the previous y.ar's loss of $49.56
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    • 476 7 MBT BANK NEGARA has agreed in principle to provide more than Ms4oo million (about ***** million) in soft loans to Bank Pertanian Malaysia (BPM) to meet its growth requirements. The loan will also help ensure that BPM has enough funds
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    • 502 7 DBS Bank weekly currency review US$/DM: Volatile week AFTER closing above 1.5900 marks the previous Friday, the US dollar soared to a peak of 1.6740 on Tuesday, surpassing its double bottom objective of 1.6555, before central banks intervened yet again to bring it down to
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    • 267 7  -  By Chew Eng Han MOST of the problems in the US banking industry resulted largely from legislation-in-duced factors, which have restricted banks' flexibility to compete on equal footing with non-bank institutions and other foreign banks, said Mr Richard Griffith, executive vice-president of Bank of America
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    • 185 7 Reuter NEW ZEALAND Stock Exchange members have voted for an automatic computerbased screen trading system in place of the open outcry method used for more than 100 years, chairman David Wale said. The new system is expected to start at the end of July,
      Reuter  -  185 words
    • SMALLCHANGE
      • 84 7 THE Federal Deposit Insurance Corp had an operating loss of U554,854 billion (558.60 million) in 1990. said FDIC Chairman William Seidman. In testimony before the Senate Banking Committee, Mr Seidman said these were preliminary. unaudited financial reports that are subject to change, since
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      • 76 7 I HE Asian Development Bank (ADB) has launched a second public bond issue of £75 million (***** million) in the Euro-sterling market, its headquarters announced in Manila yesterday. The 10-year bonds, priced at 99.86 per cent with a coupon rate of 11 per cent annually, will
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      • 54 7 INVESTMENT bank Morgan Grenfell Group pic said its preliminary' 1990 pre-tax profit £46.6 million (S$ 147 million) vs £57.2 million last year. Morgan, owned by Germany's Deutsche Bank AG said in a statement that its performance was respectable against the background of difficult markets in the
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      • 48 7 FOUNDATION Health Corp said it has acquired a California life and disability insurance licence that will enable it to begin marketing new managed health care products within 90 days. The company acquired the licence when it bought an insurance unit from Western Universal Corp.
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  • Page 7 Advertisements
    • 554 7 SINGAPORE AEROSPACE LTD The Board of Directors of Singapore Aerospace Ltd announces:AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 1990 The Company The Group 1990 1989 Increase/ 1990 1989 Increase/ $000 000 Decrease) $000 000 (Decrease) 1 Turnover 8.067 2.897 178 234,050 160,634 46 2 Operating profit/(loss) 1,214 (1.874) 165
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  • Page 7 Miscellaneous

  • THE REGION
    • NOTE BOOK
      • 94 8 MALCOLM LEADER, Australia's permanent delegate to the United Nations Education. Scientific and Cultural Organisation (Unesco) has been appointed ambassador to Saudi Arabia, Foreign Minister Gareth Evans said in Canberra yesterday. Mr Leader will replace Alexander McGoldrick in Riyadh next month at a time when
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      • 95 8 BELGIUM is likely to increase its aid to Indonesia by 10 per cent in the next fiscal year. Belgian Minister of Development Cooperation Andre Geens said in Jakarta. He told reporters after making a courtesy call on President Suharto on Tuesday that Belgium wanted to continue
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      • 104 8 AUSTRALIA has slapped dumping duties, with immediate effect, on car batteries imported from Malaysia. The duties range from 4 per cent to as high as 65 per cent, depending on the model. Dumping charges against Malaysian exports were dropped in November by the Australian Customs Services
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      • 108 8 MALAYSIA'S tourism industry ranked as the country's third major foreign exchange earner, after manufactures and crude petroleum, last year. According to the Tourist Development Corporation (TDC). it contributed 5.6 per cent or M 54.47 billion (SS2.B billion) of total foreign exchange earnings. The TDC said
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      • 103 8 A SENIOR Australian politician said in Perth on Thursday that United States military bases in Australia should be closed if the US refused to stop wheat subsidies, which he blamed for a devastating farm crisis in Australia. Lan Taylor, the deputy premier of Western
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      • 89 8 INDONESIA will cut one of its major public housing programmes by 22 per cent from next month because of high interest rates and a shortage of government funds, Housing Minister Siswono Yudohusodo said in Jakarta on Thursday. The target for the next fiscal year, starting
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      • 56 8 CZECHOSLOVAK President Vaclav Havel, once an imprisoned civil rights activist, has nominated Burma's detained Opposition leader for the 1991 Nobel Peace Prize. Mr Havel's letter to the Nobel committee in Oslo, Norway, described Aung San Suu Kyi as the "symbol of a widespread movement for civil
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      • 60 8 A VISIT to Vietnam by the leader of Thailand's military junta. General Sunthorn Kongsompong, would benefit relations between the two countries, the Vietnamese Foreign Ministry said in Hanoi on Thursday. "We would welcome reciprocal visits by the leaders of the two countries," including military leaders, a
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    • 423 8  -  From Fred Joseph in DUBAI IRAN is steadily expanding trade and investments in Malaysia. Last year, Iran invested about US$BO million in three Malaysia-based projects. Further investments are expected after the second Iran-Malay-sia joint economic commission meeting in Teheran later this year. The
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    • 212 8 AFP A CONSERVATIVE Philippine economist forecast yesterday that Manila's economy would grow by 6 per cent this year, 2 per cent higher than the government's most optimistic projection. Bernardo Villegas, vice-president of the economic think-tank Centre for Research and Communication, said that inflation would
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    • 181 8 Bernama-Kyodo MALAYSIA's recent proposal to knit East Asian countries into a regional trade group has thrown Tokyo trade officials into a diplomatic quandary. They are concerned that building up another regional trade zone can give an unintended boost to a global trend
      Bernama-Kyodo  -  181 words
    • 306 8 SEVEN Indonesian Cabinet minsters will visit Singkep island in Riau province in the middle of May to look into the possibility of developing the island into a bonded zone, the Jakarta Post says. B J Habibie, chairman of the Agency for Assessment and Application
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    • 37 8 Former Philippine First tady Ime Ida Marcos leaving the Philippine Consulate in New York on Thursday after applying for a Philippine passport. A consulate spokesman said the request will be denied. Reuter picture Reuter picture
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    • 409 8 AFP THE Philippine armed forces have come up with a code of ethics for officers and men as part of a campaign to put an end to coup plots, corruption and unprofessional conduct by the turn of the century. The
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    • 355 8 AFP INDIAN Finance Minister Yashwant Sinha has reassured India's stunned industry that a clampdown on imports was only a temporary measure, which he defended by citing precarious foreign exchange reserves. "It was mainly aimed at reducing imports during the next few months and once
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    • 182 8 AFP TAIWAN is monitoring indirect imports of 11 types of agricultural and industrial raw materials from China to avoid overdependence on the mainland. Vice Economic Minister Chiang Ping-Kun said. Among the materials are steel ingots. 27 per cent of which Taiwan obtains from China, tin ingots.
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  • Page 8 Advertisements
    • 260 8 Malaysian lobaccoCompany Berhad I NOTICE OF MEETING I NOTICE is hereby given that the THIRTY FOURTH ANNUAL GENERAL I MEETING of Malaysian Tobacco Company Berhad will be held at the I Ballroom, Lower Lobby, Parkroyal Hotel, Jalan Sultan Ismail. Kuala I Lumpur on Tuesday, 23rd April 1991 at 11 00
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  • THE WORLD
    • 358 9 FT THE Bush administration on Thursday claimed that the US economy should come out of recession soon, by late spring or early summer, as the Joint Economic Committee of Congress urged a further reduction in interest rates "to promote a rebound in
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    • 282 9 Reuter THE World Bank hopes its knock will help open the doors of Japan's capital markets to hard-pressed developing nations, but most, so far, are staying firmly shut. Brokerage managers say World Bank sponsorship has failed to overcome underwriter concern over potential credit
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    • 375 9 Reuter BRITISH Foreign Secretary Douglas Hurd said on Thursday that the Soviet Union lacked an economic reform programme that would justify substantial Western aid. He also said foreign businessmen were holding back large-scale investment in the Soviet economy because of confusion over who holds
      Reuter  -  375 words
    • 198 9 Reuter AMERICA must anticipate continued Soviet economic decline and increased prospects for significant unrest in the country, US Defence Secretary Dick Cheney said on Thursday night. Mr Cheney said in remarks prepared for delivery at Georgetown University that Soviet President Mikhail Gorbachev had
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    • WORLD WATCH
      • 104 9 EUROPEAN Community ministers have agreed to abolish virtually all customs documentation on goods moving between EC countries by January 1, 1993. They also approved measures to reduce congestion at border crossings and simplify customs procedures for third country goods moving across the EC.
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      • 56 9 JAPAN has informally proposed to offer the USSR USs2t< billion (SS49 billion) in economic aid on condition that Moscow return four islands the Red Army occupied in 1945, the Japanese daily Yomiuri Shimbun said on Thursday. Unspecified "high-ranking Kremlin officials" made the disclosure on Wednesday, the paper
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      • 89 9 CHINA will earmark 1.7 billion yuan (US$577 million) to set up special zones for high technology businesses nationwide, with tax benefits similar to its coastal special economic zones (SEZ), a pro-Beijing newspaper reported in Hongkong yesterday. The Wen Wei Po daily, quoting reliable sources
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      • 98 9 JAPAN is to cooperate with China in a US$5O million (SsBB million) seismic survey of what is believed to be one of the world's last major undeveloped oilfields. A Japanese official, who was accompanying Minister of International Trade and Industry (Miti) Eichi Nakao, said on
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      • 80 9 BAYERISCHE Vereinsbank chairman Albrecht Schmidt said on Thursday that he expects a five per cent plunge in real terms in former East Germany's gross national product this year. He also expects a slowdown in growth for former West Germany, with a real growth rate of
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      • 41 9 ALL sectors of French manufacturing industry except motor car sector increased inventories of products in value terms and slightly reduced stocks of raw materials in the fourth quarter, according to figures released on Thursday by INSEE institute.
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    • 42 9 A London policeman standing guard outside Parliament House on Thursday in front of a pile of surfboards left by a group, Surfers Against Sewage, who were demanding changes to UK waste disposal policy. Reuter picture Reuter picture
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    • 703 9 Reuter THE MIDDLE EAST is rich in oil but many fear the region's next war could be over a resource even more precious water. This stark warning is being increasingly sounded by officials, diplomats, economists and experts who say peace in the
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    • 413 9 FT COMPANIES throughout Europe could buy cheaper electricity and gas from foreign suppliers as a result of a decision to dismantle national energy monopolies, announced on Thursday by the EC Commission. The commission has started legal proceedings which it sees as a
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    • 218 9 Reuter DEPUTY US Trade Representative Julius Katz said on Thursday that European Community (EC) moves to reform its farm support policy had paved the way for a global trade liberalisation pact, and he hoped one could be reached by the end
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  • Page 9 Advertisements
    • 102 9 FAR EASTERN FREIGHT CONFERENCE SABAH, BRUNEI AND SARAWAK FREIGHT CONFERENCE FAR EAST/GULF OF ADEN AND RED SEA PORTS CONFERENCE Notice to Shippers and Receivers BUNKER ADIUSTMENT FACTOR Shippers and Receivers are advised that the Bunker Adjustment Factor will become zero with effect from Ist April, 1991. FAR EASTERN FREIGHT CONFERENCE
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  • STOCK EXCHANGE OF SINGAPORE 1
    • 5011 10  -  By William Chia SHARE PRICKS on the Singapore stock market closed higher in thin trade yesterday as investors picked up blue chips in selective buying. The dealer of a local broking house noted that prices were higher for certain blue chips because of institutional
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  • 4264 11 Main Board (X'BC Foreign 1040 +45 M 5% SI A Foreign 1720 t lO H 8% Isetan 50* 765 F3.4* Keppel C'orpn 740 f 20 2.8% I'OB Foreign 685 f20 f3 0% S Steamship 50« 302 H8 f6J% SAL-SIAF93 2000 122 +18 17.3% Semb Maritime
    4,264 words

  • KUALA LUMPUR STOCK EXCHANGE
    • 4194 12 Bernama SHARE PRICKS finished broadly higher yesterday after rising steadily in the afternoon session on buying support and short-eovering. In moderately active trading, the KI.SE Composite Index rose 7.79 points to 588.89 while the Industrial Index was 10.16 points higher at 1,129.10. Gainers far
      Bernama  -  4,194 words
  • Page 12 Advertisements

  • TOKYO STOCK EXCHANGE
    • 2202 13 Reuter TOKYO STOCKS closcd higher in limp trade yesterday. The market lost steam after an initial burst of buying as many brokers and investors, just back from a day of vacation on Thursday and looking forward to the weekend, decided to sit out yesterday
      Reuter  -  2,202 words
  • STOCK EXCHANGE OF HONGKONG
    • 2105 13 SHARE PRICES closed sharply higher in active trading on the Hongkong stock exchange yesterday. The Hang Seng Index, the market's key indicator of blue chips, rose 54.99 points, closing at 3,716.15. Turnover amounted to HK$ 1.705 billion, up from Thursday's $1,613
      2,105 words
  • Page 13 Advertisements

  • REGIONAL STOCK MARKETS
    • New York trend worries Aussie investors
      • 836 14 AUSTRALIAN stocks were weighed clown yesterday by concern over weak offshore markets and a third quarter result from market heavyweight BHP which was at the lower end of expectations. The All Ordinaries index closed at 1427.2, up 2.5 points on the day. Trade was lacklustre, with many investors sidelined
        836 words
      • 85 14 Close Previous Mmrch 22 SYDNEY All Ordinaries Index 427.2 1,424.7 +2.5 All Industrials Index 2201.9 2,201.1 +-0 8 All Resources Index 833.7 830.3 +3.4 Turnover (million) 78.29 132.74 -54.45 BANGKOK SET Index 882.69 878 70 +3 99 Turnover I million bahl) unav 4,350 JAKARTA Composite Index 398.24 397.71 -*-0.53 MANILA
        85 words
      • 820 14 THAI STOCKS finished slightly firmer yesterday but ended oft' highs as an early eight-point rally was pared by profit taking towards the close, brokers said. The SET Index closed 3.99 points higher at 882.69. Bangkok Bank was unchanged at 379, Siam Cement shed eight to 762 and Siam City
        820 words
      • 282 14 A SHARP FALL by Carter Holt Harvey and a lesser decline in Fletcher Challenge shares dragged the New Zealand share market below 1,300 points on the Barclays index on light volume. CHH shed 12 cents to NZ$l.45 on continued concern about its lack of progress in divesting assets,
        282 words
      • 483 14 PHILIPPINE shares rose yesterday on speculative buying in oils, sparked by a company's forecast that an oilfield in the south it is planning to develop could produce up to 50,000 barrels per day, brokers said. News of higher crude oil prices helped fuel interest, the brokers said. The Manila
        483 words
      • 381 14 TAIWANESE share prices reversed early losses to finish slightly higher yesterday on a technical rebound in thin turnover. The weighted index closed 40.31 points higher at 4,775.48 compared with Thursday's 4,735.17 finish. Turnover was the lowest since Feb 2 at NT526.9 billion against $37 billion on Thursday. Dealers said
        381 words
      • 903 14 SEOUL STOCKS fell for the sixth straight day yesterday as profit-taking amid deteriorating sentiment eroded any gains from market-boosting news. brokers said. The composite stock index lost 3.54 points to 659.83, with volume slowagain at 141.2 billion won against 178.2 billion on Thursday. Falls led rises 459 to 170
        903 words
      • 358 14 In local currency la S$ In US$ day S year S day year day year MAR 21 Index change change change change change change World 406 7 0.5 13.6 0.8 12.5 I.I 10.5 fEAFE 537.9 0.3 144 1.2 11 8 1.5 9.8 Europe 421.2 0.6 15.6 1.8 8.9 2.2 7.0
        358 words
      • 590 14 JAKARTA stock prices yesterday ended barely changed except United Tractors, which dominated trading on volume of over one million shares out of total market turnover of 2.47 million. The official index edged up 0.53 points to 398.24. Strong interest from local as well as foreign investors pushed United Tractors
        590 words
      • 41 14 BOMBAY share prices finished broadly lower on Thursday after the government imposed curbs on imports to save scarce foreign exchange, brokers said. The Bombay Stock Exchange index fell 6.72 points to 1,165.20 and the national index lost 3.37 to 589.75.
        41 words

  • WORLD STOCK MARKETS
    • American blue chips take a knock
      • Article, Illustration
        1201 15 WALL STREET blue chip stocks closed lower on Thursday amid worries over the outlook for corporate earnings, but the broader market managed a slight rise as investors picked up bargainpriced issues. The Dow Jones industrial average fell 16.58 points to 2,855.45. Volume on the New York Stock Exchange
        1,201 words
      • Article, Illustration
        717 15 SHARE PRICES jumped on London's stock exchange on Thursday, propelled higher by expectations of cuts in Britain's 13 per cent base lending rate. Although a half-point cut in interest rates already has been discounted in share prices, the market perception is that another half-point drop will quickly follow, dealers
        717 words
      • 75 15 March 21 Close Previow NEW YORK Dow Jones 2,855.45 2,872.03 -16.58 NYSE Financial unav 142.55 SAP 500 366.58 367.92 -1.34 Turnover (million) 199.8 196.8 +3 LONDON Financial Times 30 1,970.1 1,937.7 +32.4 KTSE 100 2,474.8 2,441.2 +33.6 Turnover (million) 552.3 563.2 -10.9 AMSTERDAM CBS Tendency Index 93.5 92.4 +1.1 FRANKFURT
        75 words
      • 389 15 DUTCH SHARES continued easier in thin and uninspiring midsession trading yesterday, dealers said. "It's a dull and quiet pre-weekend market," said dealer Johan Buckert at BDB Bank. After slowly slipping earlier in line with the London stock exchange the market had stabilized somewhat due to shortcovering, he added. By
        389 words
      • 191 15 BELGIAN shares opened mostly lower yesterday in subdued pre-weekend trading following further weakness on Wall Street, dealers said. Volume after IS minutes of trading was just 91 million francs. Of 42 shares traded, 15 rose and 22 declined. "The market is pretty weak," one dealer said. The new Brussels
        191 words
      • 172 15 ITALIAN shares ended little changed yesterday in reduced volume from Thursday's 165 billion lire, with banks and financials hit by selling on market speculation that Italy may lower its official discount rate of 12.5 per cent, brokers said. The MIB share index closed unchanged at 1,142. On the week,
        172 words
      • 345 15 GERMAN SHARES reversed their early losses to end narrowly mixed yesterday, taking the 30-share DAX index back to a pivotal chart line at 1,520 points. The DAX ended at 1,520.29 points, less than one point above Thursday's close of 1,519.59. Dealers see 1,520 as a critical chart level, saying
        345 words
      • 231 15 FRENCH share prices were lower at midsession yesterday in a market where surprise moves in luxury goods group LVMH, Paribas, Ciments Francais and Poliet energised otherwise directionless, pre-weekend trade, dealers said. The CAC-40 index stood 7.74 points of 0.44 per cent lower at 1,763.58 by 1134 GMT. It had
        231 words
      • 405 15 THE Johannesburg stock market dis- played no obvious reaction to Wednesday's mildly expansionary South African budget on Thursday morning, dealers said. Trading was slack, they said, adding that any reaction is likely to be slow in coming as the market continues to digest the details. At 10.15 am the
        405 words
      • 213 15 FUTURES-RELATED selling on Wall Street erased early gains in Toronto stocks on Thursday, causing the market to close flat in cautious trade, dealers said. Many investors who jumped on the bandwagon earlier in the year are now re-evaluating their positions, they added. The composite index lost 2.60 to 3,478.73,
        213 words
      • 240 15 THE Zurich bourse opened little changed in quiet trading yesterday as the negative impact of overnight losses in New York were counter-balanced by gains in Tokyo, dealers said. The SMI index of leading shares was up 3.8 points at 1,603.6 after about 50 minutes of trading. It had initially
        240 words
      • 44 15 Vienna MAR 21 Asch A kg Holding 4600 unch E Allgem (Pref) 3950 60 Jungbun/I ***** 250 Lacndcrbank (Pref 608 12 Lcn/ing 1520 40 Leykam 482 I Montana Oeslcrr Brau 4300 unch Sempent 129 I Stcyr 408 +4 Veitscher 755 10 Source: Austrian Landerbank
        44 words

  • CURRENCY, MONEY & FUTURES MARKETS
    • 1190 16 REPORTS THE US dollar yesterday moved lower in quiet pre-weekend trading in Europe. Gold rose slightly to U*****.25 (*****.4) an ounce. Crude oil prices were barely changed with the internationally traded North Sea Brent Blend at U5518.73 a barrel on its
      1,190 words
    • 383 16 Cross rates Mar 22 USS SS MS Dm Yen SFr A$ NZS USS 1.7655 2.7418 1.6325 136.80 0.5559 1.4065 1.2928 1.6764 SS 0.5664 1.5530 0.9247 0.7749 0.3148 0.7967 0.7323 0.9496 MS 0.3647 64.39 0.5954 0.4989 0.2027 0.5130 0.4715 0.6114 Dm 0.6126 1.0815 1.6795 83.80 0.3405 0.8616 0.7919
      383 words
    • 565 16 Interbank rates S$ Bid Offer Overnight 3 7/8 4 1-month 4 7/16 4 9/16 2-month 4 9/16 4 11/16 3-month 4 5/8 4 3/4 Qvi mode: 4-3/8 LS$ Bid Offer 7 days 6 5/8 6 3/4 1 month 6 3/8 6 1/2 2 months 6 3/8 6 1/2
      565 words
    • 487 16 Greenback may even reverse five-year slide AP EUPHORIC over the end of the Gulf War. investors have been gobbling up dollars this past month, bidding up the American currency's value by 14 per cent against major foreign currencies. It's too early to tell if
      AP  -  487 words
    • 1111 16 SIMEX EUtOOOilAH Open High Low Sett Est Vol Op/Int Vol Jun 91 93.36 93.38 93.35 93.36 6500 ***** 6194 Sep 91 93.05 93.06 93.04 93.04 3000 5712 1221 Dec 91 92.57 92.59 92.57 92.57 1000 8694 588 Mar 92 92.38 92.40 92.37 92.37 170 4602 21 Jun 92
      1,111 words

  • COMMODITIES
    • 349 17 Reuter COMMODITY futures exchanges mushrooming across South-east Asia could erode each other's business volumes unless they jointly develop the fledgling industry, a senior Malaysian official said. "We have to collaborate with each other to enhance volumes in all exchanges," said Syed Abdul Jabbar
      Reuter  -  349 words
    • 259 17 Reuter WORLD wheat production will fall some 40 million tonnes to 555 million in 1991/92 (July/June) due to a cutback in plantings and return to more normal yields,' the International Wheat Council said in a preliminary forecast. Abnormally low world prices will
      Reuter  -  259 words
    • 864 17 REPORTS THE price of tin rose two sen to close at M$ 14.85 per kg in light trading on the Kuala Lumpur Tin market yesterday. Dealers said a steadier close on the London Metal Exchange overnight and lower offerings aided sentiment
      864 words
  • 1399 17 Rubber M ar 22 MS (fcfc tm Mw) S centvkg Noon Close Int I RSS Prompt I42.00/I43.00N 141.75/142.75N Int I RSS Apr 91 144.00/144.50 143.75/144.25 Inl I RSS May 146.75/147.25 146.50/147.00 Int 2 RSS OP l4l.50m3.50N I42.00/I4400N Int 3 RSS OP 136.50/138.50N 137.50/139.50N Int 4 RSS OP I32.50/I34.50N 133.00/135
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  • Page 17 Advertisements
    • 11 17 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page
      11 words
    • 207 17 NOTICES M THE MATTER OF THE COMPAMES ACT, CAP M THE MATTER OF NORTH NAVIGATION PTE LTD NOTICE B t€AEOV QNEN Itt w Ltua+wo Qmnl Mta«n| 4 tm C<np«r w art ImM H (UtaQMyMMI Han|lMn|BuMta| 9fcg*aw9io4 on 19 tonh tttl tm k*M«n| rwoUcn* dutr p«Md aracMLnoumoN C«H*n» to mni 19
      207 words
    • 243 17 IN THE MATTES OP 808 HUP TIMBRE CO. (PTE)LTD (MEMBERS' VOLUNTASY LIQUIDATION) NOTICE OP PINAL MEETING NOTICE IS HEREBY OIVEN pursuant to Section 308 of the Companies Act (Chapter 50) that a Final Oeneral Meeting of the members of the abovenamed Company will be held at the office of the
      243 words

  • 437 18  -  NTU to be developed at a total cost of $500 m By Anna Teo THE NANYANG Technological University (NTU) will be developed as Singapore's Ivy League institution, offering a hybrid British-Ameri-can degree structure and hence an alternative model of tertiary education in Singapore. Some
    437 words
  • 376 18 Reuter BRITAIN shaved its high interest rates yesterday in a move intended to help get the economy out of a deep recession which clouds the Conservative government's political fortunes. But the cut of just half a percentage point, the third since mid-February,
    Reuter  -  376 words
  • 306 18  -  From Catherine Ong in HONGKONG A REGIONAL consortium comprising Singapore's Hong Leong and Indonesia's Lippo groups has bought a prime office building in Hongkong for more than HK$B6O million (S$ 195 million) from Tokyo-based entrepreneur Paul Sun. The consortium led by Lippo, which has
    306 words
  • 373 18 DEGREE-LEVEL courses in hotel administration, communications and fine arts developed through tie-ups with prestigious overseas universities will be offered at Singapore's second university. While building on its strengths in engineering, accountancy and business, Nanyang Technological University (NTU) will, as a comprehensive university, break away from
    373 words
  • 461 18 Yesterday in Parliament FUELED BY strong exports, Singapore's total trade in January rose 21.7 per cent to $19.41 billion from a year earlier, according to figures released by the Trade Development Board yesterday. Also at current prices, total exports in January, valued at
    461 words
  • 402 18  -  By Chitra Rajaram P R GOPAL, the president of the National Association of Travel Agents (Natas), yesterday renewed his call for more stringent rules in the licensing of new travel agents in Singapore. Said Mr Gopal in his speech at the opening
    402 words
  • 209 18 FINANCE MINISTER Dr Richard Hu will be visiting Hongkong next month for the opening of the DBS Bank branch. Dr Hu will be accompanied by Brigadier-General George Yeo, the Acting Minister for Information and the Arts and Minister of State
    209 words
  • 379 18 Agencies IRAQI opposition leaders headed home from exile yesterday to direct the revolt against President Saddam Hussein amid reports that his troops had imposed a state of siege on Baghdad, virtually sealing off the Iraqi capital. Kurdish leader Jalal Talabani and members of
    Agencies  -  379 words
  • 251 18 Bernama MALAYSIAN Prime Minister Datuk Sen Dr Mahathir Mohamad yesterday expressed regret over the negative statements made about him by certain people, such as saying that he was ill and needed to undergo surgery "I do not understand why there are people making such
    Bernama  -  251 words
  • Page 18 Advertisements

  • ExecutiveLifestyle
    • 1170 19  -  As record numbers of people flowed through the doors of Europe's ritziest motor show in Geneva last week, the signs were clear the gloves are off in the fight for the luxury car market, Christopher Powell reports for BT Christopher Powell JAPANESE manufacturer Toyota launched its assault
      1,170 words
    • STRAWS IN THE WIND
      • 69 19 SOME people will do anything to get their picture into the papers. And some will do anything to make sure the papers use only the picture they deem most flattering. Imagine our surprise when we received the photo of some company MD with the following note attached: "This
        69 words
      • 43 19 THERE is a fairly new brand of sanitary pad on sale that goes by the name Nice Day. Often, you get promoters giving out free samples at MRT stations. We can just imagine them saying: "Hi, have a Nice Day."
        43 words
      • 29 19 ITS still Saddam joke-time: How many Iraqis does it take to launch a Scud missile? Four. Three to launch the missile and one to alert CNN.
        29 words
      • 41 19 WE all know about how a company name should reflect its business philosophy. Look at NTUC Fairprice, for example. Now, there's a new investment holding company which calls itself "Halfprice Holdings". Is this an indication of its business strategies?
        41 words
      • 44 19 SINGAPORE is known for its range of Chinese restaurants. But that may change if one proposed new restaurant has its way. According to a list of newly registered companies, the "One and Only Chinese Restaurant" will come into existence soon.
        44 words
    • OPINIONS
      • 858 20  -  The working woman is not going to be swayed into having babies merely because she is allowed to pay less tax. says Chitra Rajaram Chitra Rajaram The writer is a BT journalist ARE marriage and babies a matter of dollars and sense?
        858 words
      • 759 20  -  Harish Mehta argues that Asean countries need to coordinate their defence policies Harish Mehta 1F Asean wants to create an atmosphere leavened by peace and creativity, it must have a formal defence pact, and put an end to ambiguities about its long-term intentions.
        759 words
      • 826 20  -  There is a need to set up a National Accreditation Council forprofessional and degree courses, says Tan Poi Sik Tan Poi Sik The writer is a company director IN a society like Singapore, where the paper chase is of great importance, some opt
        826 words
      • 140 20  -  Steven B Howard Group Product Manager Citibank, N A I REFER to the article "Neil French v The Region: Neil wins" in the Advertising and Marketing page (BT, Mar 14). The most remarkable thing about Neil French and The Ball
        140 words
      • 143 20  -  John Chionh Singapore 1026 NOW that Saddam Hussein is seeking a safe haven. I believe Singapore should seize the opportunity to ofTer him a piece of real estate on Übin or Tekong, complete with his favourite bunker-style accommodation and facilities. Just
        143 words
    • LIFESTYLE 1
      • Article, Illustration
        1285 21  -  The thing about the Oscars is that everyone has his opinion about who should win. So does Jaime Ee, who picks this year's Jaime Ee THE OSCARS are ripe for picking. Come Tuesday morning, Kevin Costner may be able to thank his mother as well as his bare
        1,285 words
      • 542 21  -  Jennifer Lien plunges into the mystery of a sunken ship called the Flower of the Sea Jennifer Lien HUNTING for sunken treasure has sometimes been likened to prospecting for oil. But unlike black gold, wet gold is very much harder to locate. And even when
        542 words
      • 631 21 DEBORAH HARRY AND BLONDIE: The Complete Picture The Very Best Of Deborah Ham and Blondie Debbie Harry has carved a career out of debunking stereotypes. A former Playboy Bunny at the vanguard of New York's "New Wave" movement and a seemingly vacuous blond who co-wrote
        631 words
      • 861 23  -  With the Singapore International Film Festival in full swing, Claire Leow and SN Vasuki pick their favourites SN Vasuki LARKS ON A STRING (Czech), March 23, Plaza Cinema. An inspirational movie with a message that love, honour and self-respect are the key human values that
        861 words
      • 859 23  -  WINE By N K YONG A FEW nights ago, I was dining at one of our top Chinese restaurants and my host was serving some very fine wine with the meal. To his dismay, he found his much-treasured champagne, Krug 1976, exhibiting a bouquet of Chinese
        859 words
      • Article, Illustration
        257 23  -  BRIDGE By Sybil Holloway PLAYING at the Tanglin Club weekly duplicate last Monday night. I watched my partner, Simonetta Convenevole, succeed in a well executed squeeze play. (1) Strong reverse bid which shows long and strong diamonds with hearts as a second suit. Forcing. (2) Preference for diamonds.
        257 words
    • EPICURE
      • 761 22  -  Quek Swee Peng's bit of French Quek Swee Peng's THE CROWDS don't flock to Maxim's. Well, at least not during lunch. Which is a pity. With its old world charm of wine-red upholstery and mirrored murals, it would be riotous if it's bustling with the gaiety and
        761 words
    • PURSUITS
      • 1194 24  -  What do you look for in antique rugs? Samuel Ee learns a trick or two from Mr S Y Yik, a private collector who also sells rare, antique, Persian carpets, by appointment only Samuel Ee THERE IS an ad that says: "One Card Says It
        1,194 words
      • 744 24 MAKE ENOUGH money to qualify for a gold Amex and someone would probably tell you you have a good job. But make money out of your hobby and S Y Yik would be the first to tell you it's a great job. Imagine. He is a
        744 words
      • 550 24  -  Salil Tripathi marvels at a unique collection of Breguet masterpieces Salil Tripathi THERE IS a sense of permanence about Breguet's watches. If time is supposed to be eternal, the 204 watches exhibited at Empress Place last week to be auctioned for at least $20 million in Geneva on
        550 words
    • PERSONAL FINANCE & INVESTMENT 1
      • 663 25  -  Anyone planning to invest in Singapore, Malaysia, Thailand and Indonesia must take the long view, advises WI Carr By Quak Hiang Whai THE best part of the market rally is over for Singapore and Malaysian stocks, according to French-based stockbroker W I
        Source: W.I.Carr  -  663 words
      • 454 25  -  By Chew Eng Han Although the recent performance of the Indonesian stock market has been pathetic, WI Carr is bullish on its outlook for 1991. According to W I Carr, the bourse has been taking a bashing from various factors such as the oversupply
        454 words
      • 478 25  -  By Chew Eng Han Thailand's economy is reaching the end of an extraordinarily long expansion phase and is heading for a cyclical slowdown before it can take off again. According to Mr David Scott, the head of research of W I Carr Thailand, economic
        Source: W.I.Carr  -  478 words
      • DON'T QUOTE ME!
        • 162 26  -  Compiled by Lee Han Shih IT WAS, to put it mildly, not the best thought-out timing. The day after Big Blue dropped a bombshell on the US stock market with news of its poor performance, it told shareholders in a proxy statement that five of its
          162 words
        • 84 26 IT WAS almost a scene out of the movie Casablanca. The setting: The Khameleon Club in Marina Village. The star Moroccan businessman Elyamani Khamis. The time: One night after one of Mr Khamis' long meetings with the Commercial Affairs Department (CAD). According to someone who
          84 words
        • 154 26 DBS LAND has not had much luck staking its visual claim to the former Standard Chartered Bank building in Battery Road. The other day, as workers up on the 43rd level were removing the Stanchart sign from the outside of the building to make way for
          154 words
      • 502 26  -  At today's prices, gold is a bargain, says Chew Eng Han Chew Eng Han IF YOU have been waiting to stock up gold, now is the time to do so. Many dealers consider the precious metal a good buy at current price levels of
        502 words
      • 746 26 Pricas (as at 21.3.91) Conversion terms Expiry Amount ZT T I I I Optional" using Pmnmmi issued Wrts Shaft Lit stk Eur 1 Gearing Conw (m units) Con* pric» Cash Cash 1 Lnstk 1 Data Mths ratio ,ett CiCWt 37.5 1.760 4.560 1.00 3.09 6 2
        746 words
      • 488 26  -  CHART By Najeeb Jarhom Xajeeb Jarhom is research manager at Fraser Roach Co AFTER the agonising experience of last August, investors are naturally concerned lest the present market correction turns out to be the beginning of a trend reversal. While some short-term indicators including
        Source: Fraser Roach  -  488 words
      • 1277 26  -  But a correction may be on the cards, says Gerald Holtham Gerald Holtham Gerard Holtham is chief international economist of Shearson Lehman Brothers Pte Ltd CONTRARY to my expectations at the beginning of this year, the US dollar has had a strong first quarter. I
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    • SPORTS
      • 905 27  -  Americans are getting a grip on Japan's revered sumo wrestling. T R Rem reports T R Reid IHT Growling and groaning, grimacing and gjaring, two seriously overweight American athletes clad only in bright silk loincloths have written a new chapter in the centuries-old history of
        IHT  -  905 words
      • SIDE LINES
        • 125 27 VIV RICHARDS, the West Indies captain, plans to play in the 1992 World Cup and then retire. "That is my thinking at the moment, but I do not want to pinpoint a date," Richards said in Georgetown, Guyana on Thursday. But the
          125 words
        • 56 27 WORLD SQUASH champion Jansher Khan will face England's Phil Kenyon in the first round of the US$lOO,OOO (S$ 177.000) French Open next month, while his Australian arch-rivals fight among themselves. Both Chris Robertson and Chris Dittmar have finished in the lower half of the draw, announced
          56 words
        • 79 27 ABEBE MEKONNEN of Ethiopia, the 1989 Boston Marathon men's champion, has entered next month's Boston Marathon. Mekennen, 28, has won seven marathons in his career including the one in Tokyo earlier this year. He joins a field that includes Douglas Wakiihurli of Kenya, the world
          79 words
        • 51 27 ITALIAN Claudio Chiappucci scored a rare double victory Thursday in the Catalan Week cycling race, winning both legs of the divided fourth stage. Irish rider Stephen Roche took the overall lead going into yesterday's final stage with a second-place performance in the second leg. an individual time
          51 words
        • 75 27 LEE TREVINO, already the dominant player on tha Senior PGA Tour, thinks his game may be getting better. If it is, that figures to be bad news for the field at this weekend's Vintage ARCO Invitational. "I've turned my game up a notch," Trevino said. "I feel
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        • 97 27 THE WEATHER was no match for Cathy Gerring on Thursday as she braved the elements to shoot a three-un-der-par 70 and take a two-shot lead after the opening round of the Turquoise Classic being played in Phoenix, Arizona. Betsy King, who won in 1985, carded a
          97 words
        • 59 27 A REMATCH between heavyweights Mike Tyson and Canada's Donovan "Razor" Ruddock is reportedly in the planning stages and could be held as early as June. "We're looking into the possibility of a rematch this summer," said Alan Feldman, a spokesman for the Mirage Hotel and Casino, where
          59 words
      • 628 27 AP TOM WATSON and Jack Nicklaus, a couple of spry old relics from another era, came ambling out of the past and put their names among the leaders on Thursday in the USF-and-G Classic. "The old folks are doing alright, aren't they?" the
        AP  -  628 words
      • 252 27 NYT WHEN membership in a Japanese golf club can cost as much as US$2.4 million (554.2 million), and tee times must often be reserved more than a month in advance, Japanese golfers often dccidc to fly to the United States. When they
        NYT  -  252 words
      • 459 27 AP GABRIELA SABATINI gave Steffi Graf a six-game head start and still won. In a stunning comeback on Thursday, Sabatini beat her archrival 0-6, 7-6 (8-6), 6-1 to move into the finals of the International Players Championships. The victory was Sabatini's first after
        AP  -  459 words
    • JOBS
      • 866 28  -  Salil Tripathi speaks to Amos Koh, who describes his move from academia to the private sector as a step towards a more complete development in his career in property Salil Tripathi IT TOOK the senior lecturer in the School of Building and Design at the National
        866 words
      • 398 28  -  Recruitment ads should help rather than hinder the selection process, writes Jane Allen Jane Allen Advertising reigns supreme as the fail-safe way of recruiting new employees. However, advertising is expensive and worse, to hire the wrong employee can be expensive too. This raises the
        Punch  -  398 words
      • 409 28 Mrs Gladys Chen has been appointed Group Corporate Audit Manager to head the Audit Department of the Sembawang Group. Prior to joining the eompany she was a Vice-President and Senior Operations Manager with a foreign bank. She brings with her 10 years' audit experience, having been an audit
        409 words
    • 1086 29 City FHgfct ETA Flight ETD /UaiaMa SQ228 1910 QF82 2115 QF81 2010 I—M RJ83 0350 SQ23 1345 KL838 2150 KL837 1505 SQ24 2215 Mkm* QA471 0015 NZ21 1720 NZ22 1830 SQ338 2030 BA12 2155 ■akraki GF148 0915 Baadar Sari ***** 1105 SQ182 0915 ■it SQ181 1410
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    • THE TRAVEL PAGE
      • 452 29 LETTER FROM TURKEY THE GULF of Fethiye with the 12 islands off Gocek is one of the most secluded and beautiful areas on the Turquoise Coast. Travelling by motor launch is the best way to enjoy its beauty. If you take a boat from Fethiye
        452 words
      • 148 29 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.355 1.375 Canadian dollar 1.5110 1.5210 NZ dollar 1.040 1.070 Sterling pound 3.150 3.1800 US dollar 1.7600 1.7750 Local dollars to 100 units of foreign currency Austrian schilling 15.00 16.00
        148 words
      • 80 29 Duration Title Venue Organiser Tel Duration Title Venue Organiser Tel April Expo-Opt i ca Spain IFEMA ********** April International Budapest. HUNGEXPO ********** 9-12 Exhibition of Hungary April 17th International Centra Fundacion El (541)*****2$ Agricultural 5-22 Book Fair Municipal de Libra Food Industry Exhibition Expos (Clones. Machinery Buenos
        80 words
    • TIME OFF
      • 202 30 Mtgapore touto urcMstra The Singapore Youth Orchestra's first public concert in 1991 under the direction of its musical director and principal conductor Mr Lim Yau. Programme includes overture from the opera "Magic Flute", Symphony No 35 by Mozart, Lieutenant Kije and Classical Symphony by Prokofiev. Victoria Concert Hall. Apr
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      • Article, Illustration
        324 30  -  Compiled by K Jayanti Many in One 25 Years Of Art From Singapore The exhibition will display the works of 31 local artists selected for a two-year show in the United States, the first attempt to package a travelling exhibition of Singapore contemporary art overseas. The National Museum Art
        324 words
    • Article, Illustration
      587 30 Dances With Wolves Kevin Costner does a jig with a nervous wolf and is immediately baptised by the Siouxs with a Red Indian name. If you think that's intriguing, consider the fact that this threehour Western, directed by Costner himself, also won a Golden Globe for Best Picture as
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  • Page 22 Miscellaneous

  • Page 23 Advertisements
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  • Page 25 Advertisements
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  • Page 28 Advertisements
    • 108 28 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 I A relevant book reviews. (j V ENTERPRISE MANAGEMENT, in V Business Times every Monday, is must U reading for managers who want the f
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    • 168 28 DHL IN THE NEWS Advertisement CUSTOMER SERVICE THE DHL WAY DHLs commitment to sive to customers'queries for tries; by utilising the conveservice quality is something booking a shipment, ordering nient frequencies of more that is central to its business supplies, or tracing a con- than 172 scheduled airlines DHLs Mission
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  • Page 29 Advertisements
    • 42 29 Vaasa matter? Don't you know that Finnair flies to 16 countries in Europe? With a superb twice-weekly service from Singapore to Helsinki and then on to everywhere from Vaasa to Vienna. Call *****77 for details. We know Kuropc (rem start to Finnish.
      42 words
    • 24 29 JL r ll wml WHO CHEAT Newsstands and from your News vendor I A/so Ttmes f/ie Bookshops. 7-Eieven stores and selected Shell stations. I
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  • Page 29 Miscellaneous
    • 334 29 1 State of balance of rig by 7 8 Is this what you expect people to say when they I I I I I I I I I I I 11 Make a deduction 12 Document taken from a 11 13 Get involved with another BB ***** 11 I I
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    • 169 29 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 24/14 Fair Bangkok 35/24 Fair Beijing 17/04 Cloudy Brunei 31/24 Showers Hongkong 25/20 Cloudy Jakarta 30/23 Showers Kuala Lumpur 33/25 Showers Manila 32/24 Fair Melbourne 17/08 Sunny Perth 36/20 Sunny Seoul 10/03 Rain Sydney 24/17 Showers Taipei. 28/22 Windy Tokyo 17/05 Sunny Wellington 22/14
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    • 33 29 x v V4 A V£ (T'S CHPMG€t> TVC WHOCC HftV£ vou RtftD"W£ SuriPeß I rnufcse. of 1-IF£.. Numse? of thg TIRTS y House JOURNPvt y S^s# Q305 C EVENING STANDARD CO. LTD.. 1942-1991
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  • Page 30 Miscellaneous
    • 1755 30 TODAY'S TV c iv MMk StafltijUHMV Xfl 1-25 Meorti Jeram. Wil kill! i;Hh! 1.30 Berhibur Bervimj. HHIImUmHIH iMMHiyBi9H --Wr. X 2.00 Angkasapari's Youth Club "'y jr (L) Kramer Vs Kramer. 9.30pm. Runaway With the Rich and m r. Mm jHK#* 3.00 Lakisaa Rasa. SBCI2 Famous, 1.05 mm SBC 5 «>#
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    • 670 30 MOVIES ON TV Terms el Endearment, Mon, nection? Well, this isn't it. 9.30pm, SBC 12 But this TV movie is about A mother and daughter fight Gene Hackman's character, like cat and dog only to the tough cop Popeye Doyle, change attitudes when the lat- and how he and his
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