The Business Times, 20 July 1991

Microfilm: NL17606
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES MCI (P) 16/12/90 Weekend Edition, July 20-21 1991 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      Dow Jones lower
      34 1 THE US stock market was mixed yesterday, hesitating after Thursday's strong gain. The Dow Jones average of 30 industrials slipped 4.02 points to 3.012.30 in the first hour of the session.
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    • Article
      Footsie higher
      36 1 SHARES were higher at midday yesterday in light, featureless trading. At 1115 GMT, the FTSE 100-share index was up 4.8 points, or 0.2 per cent, at 2,552.1. Volume was 245.9 million shares at midday.
      36 words
    • Article
      Non-Communist may lead Soviets
      67 1 LONDON President Mikhail Gorbachev yesterday suggested it was possible for a non-Communist to lead the Soviet Union but said his party would still retain its influence throughout the country. Mr Gorbachev, in an interview broadcast by Britain's Independent Television News (ITN), also said his perestroika reforms
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    • Article
      Thai Airways listed
      43 1 BANGKOK Thai Airways International Ltd shares have been listed on the Stock Exchange of Thailand (SET) but actual transactions are not expected to take place before its 2.23 million, 1,000-baht-par shares are split into a smaller par value by October.
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    • Article
      How to draw tourists
      36 1 THE STPB has appointed Tang Wee Sung, chairman of the Singapore Retail Merchants Association, to set up a committee to look into the competitiveness of Singapore as a tourist destination. Page 2
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    • Article
      Aussie property binge
      22 1 SINGAPOREANS have spent at least Sioo million in the last two month on real estate Down Under Page 6
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    • Article, Illustration
      STOCK INDICES
      30 1 Friday Change BT-MGA 699.54 +3.28 Kuala Lumpur ...592.69 +3.15 Tokyo 22,866.36 -42.35 Hongkong 4,009.35 +32.52 Sydney 1,550.5 +9.8 I hursdav Change New York 3,016.32 +37.56 London 2,547.3 -13.7
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    • Article
      CURRENCIES
      23 1 Exchange rates USS SS 1.7490 100 Yen SS I 2748 MS SS 0.6289 Money market rates Overnight 4-1/2 +3/4 3-month 5-1/2% +1/16
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    • Article
      COMMODITIES
      40 1 London Gold AM fix USS370.30 -USS0 05 Rubber S'pore Aug l42.75'/kg +0.50 M'sia Aug 227.50*/kg -0.50 KL Tin Turnover 29 tonnes +15 •Spot MS 15 43 /kg -0.01 Crude palm oil Turnover 1.259 lots -1,515 Aug MS829 /tonne -2
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  • Article
    Bankers fighting shy of Indon loan syndications
    420 1  -  Bentoel's USs4sm default has made many wary By Quak Hiang Whai BANKERS are increasingly reluctant to take part in international syndications for Indonesian borrowers. Indonesian cigarette maker PT Bentoel's recent default on a US$45 million (5580.55 million) loan has made bankers, who were
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  • Article, Illustration
    Lock icon Khamis probe dropped due to lack of evidence in S'pore
    417 1  -  By Shoeb Kagda THE Commercial Affairs Department (CAD) ceased its probe into the financial affairs of flamboyant Moroccan businessman Elyamani Khamis due to lack of evidence in Singapore, the department said yesterday. After conducting thorough investigations over a period of
    Picture from Telemark Arbeiderblad  -  417 words
  • Article
    Wall Street rally boosts Singapore market
    150 1 THE SINGAPORE stock market staged a recovery yesterday, boosted by Wall Street's rally on Thursday. The Dow Jones Industrial Average surged 37.56 points to 3,016.32. Yesterday's 8.53-point advance pared the Straits Times Industrials Index's losses for the week. The index closed at 1,455.88, down
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  • Article
    Lock icon A former top BBMB Sec man to face charges
    170 1 MBT KUALA LUMPUR A former senior executive of BBMB Securities will face three charges in court next month for trading in shares without a licence. He was issued with a summons on Thursday night to appear at a Kuala Lumpur Magistrate's
    MBT  -  170 words
  • Article
    Lock icon IBM profits fall 92pc
    140 1 AFP NEW YORK Computer giant IBM announced yesterday that its profits plunged 92 per cent in the second quarter to US$ll4 million against US$l.4 billion for the same period last year. International Business Machines, the largest computer maker in the world, saw its profits per share
    AFP  -  140 words
  • Article
    June figures push trade to double-digit growth
    520 1  -  By Kenneth James A STRONG SURGE in exports last month contributed to double-digit growth in total trade for the first half of this year, compared to the first six months of 1990. Latest figures released by the Trade Development Board show that the
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      114 1 Nikon Tho Wtorid't FlnMt Photographic System. COVER Tour of duty (and more?) L j Aircraft Schedule EL 11 Commodities 15 Company News 3 Cryptic Crossword El 11 Executive lobs EL 10 Futures Options M interbank Fore» Rates 14 Home News 2 KISE 10 Money Changer Rates EL 11 Money Market
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      11 1 OPINIONS Biased reporting on Asian dragons Down Under. EL 2 i
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      Page 1 Advertisements Column 3
      20 1 PURSUITS Number one and hot. EL 6 Bargain-hunting Brit-style. EL 7 KI-SK says probe into BBMB is independent, l*g 3
      20 words
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      Page 1 Advertisements Column 4
      267 1 PURSUITS Dilemma of a forest people. EL 7 HISTORY IN TIME f-.S- >* •^HWWiWWIB—I———— Xeuton. automatic in I fict gold or gold/steel Planetarium Copernicus, indiridually numbered handmade in IS ct gold Michelangelo, automatic in Iff ct gold or gold/steel Planetarium Copernicus The Planetarium by Ulysse Nardin combines with a pure
      267 words
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      Page 1 Advertisements Column 5
      15 1 hkon Jb9 Wbrid's FlnMt PhologwpNc System. I FINANCE A new battleground for SEEL. EL 8
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      7 1 JOBS The new Japanese manager. EL 10
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  • HOME NEWS
    • NEWS ROUNDUP
      • Article
        Muhyiddin to visit S'pore on July 23
        95 2 THE Mentri Besar of Johor. Tan Sri Dato' Haji Muhyiddin Yassin, will be in Singapore on July 23 to visit three training institutes at the invitation of the Singapore Manufacturers Association and the Johor-Singapore Joint Committee on Business Co-operation. He will study Singapore's
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      • Article
        Air navigation seminar
        52 2 THE Civil Aviation Authority of Singapore will host a five-day International Civil Aviation Organisation seminar on "Future Air Navigation Systems". The event will be held from July 22 to July 26 at Changi Airport Terminal Two. Over 70 delegates from 20 countries in the Asia-Pacific are expected
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      • Article
        Bidding for 'SBR' series
        59 2 PUBLIC BIDDING for car registration numbers 1 to 9999 in the "SBR" series will take place from Monday to Saturday. The numbers can only be used for the registration of new cars. The minimum bid is $1,000. Successful bids are not transferable. Bids must be made
        59 words
      • Article
        KL minister to meet Chok Tong
        63 2 THE Malaysian Minister of Justice and Minister in the Prime Minister's Department, Tuan Syed Hamid bin Syed Jaafar Albar. will visit Singapore from today to July 23. He will call on the Prime Minister, the Chief Justice and the Deputy Prime Minister. The visit
        63 words
      • Article
        New posting for CID officer
        79 2 SENIOR Assistant Commissioner (SAC) Chua Cher Yak, director of CID. will be posted to the Prisons Department as deputy director of prisons. He will be replaced by SAC Khoo Boon Hui, currently chief of staff of the police HQ. SAC Goh Liang Kwang will relinquish
        79 words
      • Article
        Corrections and clarifications
        43 2 IN BT's July 18 report, "Bids for duty-free outlets at cruise centre", it was mentioned that Chop Tat Pte Ltd was a contender for the outlets. The company is actually Chap Tat Pte Ltd. We are sorry for the error.
        43 words
    • Article, Illustration
      STPB wants retail team to look into tourism issue
      231 2  -  By Hong Lee Tiam THE Singapore Tourist Promotion Board has asked some members of the Singapore Retail Merchants Association (SRMA) to set up a committee to look into the competitiveness of Singapore as a tourist destination. Mr Tang Wee Sung, the
      231 words
    • Article
      Retailers from region seek training at S'pore centre
      222 2  -  By Hong Lee Tiam THE Singapore Retail Merchants Association Training Centre (SRMATC) has received numerous requests from retailers in Indonesia, Malaysia. Thailand and China to train their retail staff, said the centre's director Vincent Kong. Yesterday, senior managers from Bausch Lomb Beijing
      222 words
    • Article
      Community work awards for housewife, two firms
      172 2  -  By Dawn Tan TWO COMPANIES and a housewife have been honoured for their contributions to voluntary community work. Chartered Industries Pte Ltd, DFS Pte Ltd, and Mrs Raikha Nomanbhoy received Volunteers Month Awards last night from President Wee Kim Wee at the "Tribute
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    • Article, Illustration
      Curtain wall maker sets up regional HQ in S'pore
      343 2  -  By Dexter Lee CURTAIN WALL maker Permasteel-ISA has set up its regional headquarters in Singapore as a springboard into the property development markets of South-east Asia. The move follows the group's clinching of a $71 million contract last year to supply
      343 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      636 2 Vessel Voy Wo Berth kM Dqurtot Ve«el Voy Wo Barth fcmil Departoe Marina Terminal 1 Jurong Port 3atam Baru B78 M04 20 07/2300 Abadi lay a AJ/91/10 J1 alongside 20 07/1500 Batamindo 1 70S M01 alongside 19 07/1700 Hana ft alongside 20 07/1500 Brastagi 1 28/91 M03
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    • Article
      CONTAINER SCHEDULE
      1095 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Bookint/Batance Rdts Ship Voy No Etto/Btr Period From To From Ala Bhum 509N 21/0645 2 19/1700 20/0659 20/0900 3 20/0700 20/1159 20/1400 Al Muharraq 1 20/2359 1 19/1500 19/1659 19/1900 2 19/1700 20/0659 20/0900 Awn Ms 9112 22/2300 1
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      IN MALAYSIAN PORTS
      221 2 Johofc Port Berth: 1 nd: 2 Golden Star. Tonggonaegukho. 3: Jiang Du: 4 Kota Akbar; 5: Jonathan. 6 Dang Norieda. Sea Pal 01 jetty: Jakov Sverdlov, L/C Hai Heng 33 DCJ: Silver Pride Due on Juty 19: Stott Sincerity. Garuda Vlahakam Tung long. Urfa. Barge Josindo Satu
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  • SINGAPORE – MALAYSIA COMPANY NEWS
    • Article
      Lock icon Temerloh on acquisition trail
      688 3 Stakes in AMMB, AMDB, Redec and Redifussion Malaysia MBT KUALA LUMPUR Temerloh Rubber Estates (TRE), a firm eontrolled by Malaysian banker Tan Sri Azman Hashim, has gone on an acquisition spree again. This time it is acquiring 40.1 per cent of Arab-Malaysian Merchant Bank (AMMB), 30
      MBT  -  688 words
    • Article
      Asean investors focusing on domestic stock markets
      242 3  -  By Salil Tripathi THE RESOLUTION of the Gulf crisis has caused investors in the Asean stockmarkets to shift their focus from international factors back to domestic factors, the directors of Asean Eund Ltd said, as they reported half-year results. The directors believe that
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    • Article, Illustration
      Berjaya takes 5.07pc stake in MUI in surprise move
      443 3  -  By William Chia IN A SURPRISING turn of events, diversified Berjaya Corporation has taken a significant stake in beleaguered Malavan United Industries Bhd (MUI). Berjaya yesterday informed the Kuala Lumpur Stock Exchange that it has acquired a 5.07 per cent stake
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    • Article
      Lock icon KLSE says probe into BBMB is independent
      179 3 Bernama KUALA LUMPUR The Kuala Lumpur Stock Exchange's investigations into BBMB Securities following its Ms 72 million loss recently is not related to and not being hampered by the Registrar of Companies' investigations, KLSE executive chairman Nik Mohamed Din Datuk Nik YusofT said.
      Bernama  -  179 words
    • Article
      Lock icon Renong shares surge as authorities drop probe
      177 3 Reuter KUALA LUMPUR Shares of companies under the Renong Bhd group, a diversified conglomerate linked to Malaysia's ruling party, surged yesterday after an official insider trading probe found no irregularities. "With the authorities off Renong's back, investors seem more sure of the company,"
      Reuter  -  177 words
    • Article
      Is the end of market consolidation in sight?
      780 3  -  THE HOCK LOCK SIEW COLUMN By S N Vasuki AFTER the drought, the deluge. Singapore companies have been flooding the market in recent weeks with new listings. And the response from investors has been overwhelming. SAL's recent issue, for instance, was oversubscribed
      780 words
    • Article
      Lock icon Antah to reap gain of M$68m from share sale
      281 3 MBT KUALA LUMPUR Antah Holdings Bhd, which intends to dispose of its entire 20 per cent stake in ArabMalaysian Merchant Bank (AMMB), is selling 19.25 million AMMB shares, or 10 per cent, to Temerloh Rubber Estates for MS 115.5 million, or
      MBT  -  281 words
    • Article
      Warrants: premiums and gearing
      1008 3 Prices as at 19.07.91 Conversion terms Premium/ Expiry (dbCMRt) Amount Optional* mine lif ed Company (mil Wrts Share Loaa Con* Exer Lnstk Cash Cask Loan Gearing. Date Mtks ■■its) stock ratio price nom Stk, Left vaiw s > ss$ Bur writ 115 2 0 240 0
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    • COMPANY BRIEFS
      • Article
        NatSteel Equity pays A$3.07m for Centurion
        118 3 LISTED Nat Steel's wholly-owned subsidiary', Nat Steel Equity 11, has paid A 53.07 million (Ss4.l million) for its general takeover of Australia-based Centurion Industries. The transaction, which involved 1.50 million A 50.50 shares or a 29.7 per cent stake, takes Nat Steel Equity ll's
        118 words
      • Article
        Kamunting's pre-tax profit up
        87 3 KUALA LUMPUR Kamunting Corporation said group pre-tax profit for the year ended March 31 rose 36 per cent to M 521.01 million from $15.41 million a year earlier. Group turnover surged to $61.09 million from $34.21 million previously, while after-tax profit rose to $7.58 million from
        87 words
      • Article
        Sanda to manufacture casings
        70 3 KUALA LUMPUR Soon-to-be-listed Sanda Plastics Industries Bhd plans to manufacture moulded plastics casings for television sets and personal computers, managing director Hui Shing Leong said. Mr Hui told newsmen after signing an underwriting agreement for Sanda's public share offer of 1.56 million shares of Msl each
        70 words
      • Article
        Shareholders approve scheme
        81 3 AT CMB Packaging Singapore Ltd's extraordinary general meeting, shareholders passed one ordinary' and two special resolutions, and added three new articles of association. In the ordinary resolution, shareholders approved CMB Executives' Share Option Scheme, granting the company's executive director. Mr Lim Hong Keat, options to subscribe new
        81 words
      • Article
        Amcol buys subsidiary shares
        72 3 AMCOL Holdings Ltd announced that it has bought two subscriber shares in Amcol Technology Pte Ltd, which makes the latter a subsidiary of the former. Its paid-up capital will be increased to $500,000 in the current financial year. Lot 6710 on 159 Sin Ming Road belonging
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      • Article
        IGB names buyer of MUI shares
        77 3 KUALA LUMPUR IGB Corporation said the buyer of its 22.69 million Malayan United Industries (MUI) shares for M 52.71 per share was Sanorex Sdn Bhd. IGB was responding to the Kuala Lumpur Stock Exchange's request to name the buyer of the shares, following IGB's
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  • REGIONAL / INTERNATIONAL COMPANY NEWS
    • COMPANY BRIEFS
      • Article
        China Light pays out higher dividend
        72 4 HONGKONG China Light and Power Co Ltd said it declared a third-quarter interim dividend of 18 UK cents (4 Singapore cents) a share for the financial year ending Sep 30, 1991. The dividend compares with 15 cents paid out for the same period last
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      • Article
        AT&T still expects to post profits
        89 4 NEW YORK American Telephone Telegraph Co said it still expects to report a profit in 1991, despite its plans to post charges of up to US$4 billion (557.16 billion). AT&T officials in a teleconference said that figure represented the uppermost limit of its expected
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      • Article
        Goldstar opens arm in France
        81 4 PARIS South Korea's Goldstar group has opened a subsidiary in France to sell US$45O million (*****.5 million) worth of consumer electronics in the first year, with a factory planned in four years. Goldstar France president Bernard Labaume said at a press conference on Wednesday that
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      • Article
        US$ squeezes Tandem's profits
        71 4 CUPERTINO, California Tandem Computers Inc blamed the strengthening of the US dollar for the drop in its third quarter profits. "Relative to the second quarter, the strengthening US dollar had a significantly negative effect on thirdquarter reported revenues," said Mr James Treybig, president and chief executive
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      • Article
        NEC wins Manila phone order
        63 4 TOKYO NEC Corp and major trading firm Sumitomo Corp won an order from the Philippine government to install a digital telephone network in and around Manila for about 17 billion yen (Ss2l9 million), an NEC spokesman said. The telephone network, which NEC plans to complete
        63 words
      • Article
        Caterpillar's second quarter loss
        63 4 PEORIA, Illinois Caterpillar Inc said a 10 per cent drop in physical sales volume due to recessionary market conditions was primarily responsible for a net loss in its second quarter. The construction equipment manufacturer reported a net loss of US$l7 million (5530.43 million), or US$O.l6 a
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      • Article
        Analysts' FCL forecasts spot on
        55 4 WELLINGTON Fletcher Challenge Ltd said analysts' forecasts of net earnings in the year to June 30, 1991, of between NZ$54O-570 million were "reasonably accurate". "Consistent with those forecasts, the energy and resources area of the group would be contributing somewhat over NZ$3OO million (Ss3oo million),"
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      • Article
        Harpener's future in the balance
        103 4 ESSEN, Germany Germany's Harpener AG said it faces an uncertain future, even after it fully digested the impact of transactions with its former majority owner Omni Holding AG of Switzerland in 1990. Chief executive Heinz Sippel told reporters the diversified group might be confronted with
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    • Article, Illustration
      Lock icon Kyodo news agency chief quits over plagiarism
      385 4 AP TOKYO The president of Kyodo News Serv ice, Japan's largest news agency, is resigning his post to take responsibility for the plagiarism of a series of medical articles from a major newspaper, Kyodo said on Thursday. Kyodo's board of directors approved Mr
      AP  -  385 words
    • Article
      Lock icon Australia may block Black-Packer bid for Fairfax
      430 4 Canberra aims to prevent Packer from gaining media dominance Reuter CANBERRA Australia is considering new media ownership laws which may block a bid by Canadian tycoon Conrad Black and Australia's richest man Kerry Packer to take control of the John Fairfax Group. The
      Reuter  -  430 words
    • Article
      Lock icon 15 firms may be linked to industrial espionage case
      326 4 They are suspected of buying info stolen from Japanese firm Komatsu Agencies TOKYO Authorities believe 15 firms may be linked to an industrial espionage scandal involving the theft of secret documents from machinery maker Komatsu Ltd, Japanese media reported. Police have
      Agencies  -  326 words
    • Article
      Lock icon IBM plans machine that makes memory chips
      161 4 Reuter NEW YORK IBM Corp, in a bid to reduce its dependence on Japanese computer chips, is pinning its hopes on a billion-dollar experimental X-ray machine to make memory chips, the New York Times reported. The world's largest computer maker hopes the venture
      Reuter  -  161 words
    • Article
      Metro Group of Bangkok, Sanwa in construction material venture
      389 4 Sun Metal formed to tap into reviving Thai real estate market BANGKOK The Metro Group will join hands with Japan-based Sanwa Group to produce construction materials to copc with heady demand from the recovering real estate market, the Nation reported on
      389 words
    • Article
      Lock icon Trump Castle casino offer still stands: Hilton
      425 4 Donald Trump rejects USsl6sm proposal Reuter LOS ANGELES Hilton Hotels Corp said its offer to acquire the Trump Castle casino still stands, despite Donald Trump's initial rejection. "Our offer is good until July 29, and it'll stand," said Maurice Scanlon, chief financial officer
      Reuter  -  425 words
    • Article
      Lock icon TI to sue Fujitsu for infringing patent
      240 4 Reuter DALLAS A fresh battle began on Thursday in the 31-year-old war over who invented the integrated circuit with the announcement that Texas Instruments Inc (Tl) will sue Fujitsu Limited in Japan for patent infringement. Texas Instruments said it was forced to sue
      Reuter  -  240 words
    • Article
      Lock icon Novell to move into software with plan to buy Digital
      242 4 NYT NEW YORK Novell Inc, the leading publisher of software for office computer networks, announced on Wednesday that it would acquire Digital Research Inc, a producer of software that controls the basic operations of desktop computers. The acquisition will bring
      NYT  -  242 words
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      Page 4 Advertisements Column 1
      81 4 Q*® 1 TANG SAN ANTIQUE HOUSE cordially invite |-j the pleasure of your company to MING AND QING DYNASTIES ANTIQUE FURNITURE EXHIBITION IBL 'wHh yiNG OFFICIALS LAM GUAN HAT ARMCHAIR (Wll MB WOOD) VVu Mei, Zitan Huang lluali, Jichi, Duan, Blackwood And Klmwood. Venue: Mandarin Singapore Reception Hall (sth Flwr.South
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      Page 4 Advertisements Column 2
      59 4 SINGAPORE PRESS HOLDINGS LIMTTED ANNOUNCEMENT Pursuant to Article 23C(4) of the Company's Articles of Association, WE HEREBY GIVE NOTICE that as of 18 July 1991 the percentage of the issued ordinary share capital of the Company in which foreign persons have an interest is 49 per cent. BY ORDER OF
      59 words
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  • FINANCIAL NEWS
    • Article
      Lock icon Japanese stockbroking firms hit hard by slump
      423 5 Agencies TOKYO A global stock market slump sharply cut consolidated revenues and profits of major Japanese securities companies in the year to March, financial reports showed. Net profits of the largest Japanese stockbroking firm, Nomura Securities Co, plunged 57.7 per cent from the
      Agencies  -  423 words
    • Article
      Lock icon French company to inject US$1b into troubled Equitable Life
      464 5 Agencies PARIS An aggressive and cash-rich French company, AXA SA, has finally secured a sizeable foothold in the US insurance market by scooping up a major stake in the troubled Equitable Life Assurance Society, the third-largest US insurer. AXA chairman Claude
      Agencies  -  464 words
    • Article, Illustration
      US$ hit by intervention of central banks
      487 5 DBS Bank weekly currency review I Ss/Dm: double top pattern objective met THE bullish sentiment that brought the US dollar to a high of 1,8390 marks last week came to an abrupt halt as unexpected concerted intervention by central banks last Friday caused
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    • Article, Illustration
      Lock icon BankAmerica's second quarter earnings up 2pc
      421 5 NYT NEW YORK Bank America Corp, the US's secondlargest bank after Citicorp, on Thursday reported a 2 per cent rise in quarterly earnings, to US$272 million (***** million), because of an increase in loan volume and a decrease in expenses. Earnings per share were
      NYT  -  421 words
    • SMALL CHANGE
      • Article
        Swiss firm sees profit recovery
        79 5 ZURICH Swiss Volksbank said it expected net profit to recover sharply in 1991 after 1990's profit fell to 110.8 million Swiss francs from 136.5 million the previous year. "From today's viewpoint we can reckon with a sharp recovery in net profit," the bank said in
        79 words
      • Article
        Arab Banking not linked to BCCI
        88 5 MANAMA, Bahrain The Bahrain-based Arab Banking Corp BSC (ABC) has said it has no links with the scandalhit Bank of Credit and Commerce International SA (BCCI). "ABC confirms that the problems of the BCCI group have nothing to do with the ABC group and
        88 words
      • Article
        Spain to pick single futures index
        100 5 MADRID Spain's futures and options exchanges, which developed rival share indices before they decided last month to form a holding company, said they hoped to have a single index up and running by early October. The options market Mofex in Madrid and the Barcelona-based
        100 words
    • Article
      Lock icon First City Bancorp expects higher loss
      247 5 Reuter HOUSTON First City Bancorp of Texas lnc said its 1991 losses will be worse than expected and may even exceed 1990's loss of U*****.3 million (Ss26B million). In a press release, the bank said its chairman, \lr Ivan Wilson, noted that *it is
      Reuter  -  247 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      42 5 T \-v v -v- v v .!v v -,v p*" jjflH Hk 11 /iT] j > Price: *****.00 Service Centre: #24-07 Orchard Towers, Singapore 0923. Tel: *****22 (12 lines). MNMW MMM Available at leading department stores and authorised dealers. ORREM IMIItIIKHS I i
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  • THE REGION
    • NOTE BOOK
      • Article
        Philippines to lower growth targets
        100 6 MANILA The reduction of fuel prices and a controversial import levy will force the Philippines to lower economic growth targets for 1991 and 1992, Finance Secretary Jesus Estanislao said yesterday. "Growth targets could be pulled down because of the simultaneous reduction in oil prices and
        100 words
      • Article
        Aussies choosing mission site
        106 6 PHNOM PENH The Australian government has started house hunting in the Cambodian capital since deciding earlier this month to open a mission to the Supreme National Council (SNC). Japan has already chosen a site for its mission, France is expected to take back its old embassy
        106 words
      • Article
        Sabah, Indon towns to twin
        75 6 TAWAU Tawau in Sabah and Pare-Pare in South Sulawesi, Indonesia, will become twin towns today. A ceremony will be held here to mark the first twinning of a Sabah town with one in the Indonesian province. The twinning follows a cooperation agreement reached between the
        75 words
      • Article
        Aussie, M'sian councils to meet
        68 6 KUALA LUMPUR The Malaysia-Australia Business Council and its counterpart Australia-Malaysia Business Council will hold their first joint meeting here on Monday, the MABC said on Thursday. Deputy Minister of International Trade and Industry Chua Jui Mend will deliver the keynote address at the meeting which
        68 words
      • Article
        Thai plan beneficial: minister
        68 6 KUALA LUMPUR Thai Foreign Minister Arsa Sarasin said on Thursday that his country's proposal for the establishment of a free trade zone within the Asean region will not be in conflict with the Malaysian proposal for an East Asian economic group. Speaking to newsmen on arrival
        68 words
      • Article
        Joint exploitation of Spratly
        72 6 HANOI Vietnam said on Thursday it welcomed the idea of joint exploitation of natural resources with its non-commu-nist neighbours in parts of the South China Sea under territorial dispute. Hanoi was pleased with a regional meeting in the Indonesian city of Bandung this week to discuss
        72 words
    • Article, Illustration
      S'poreans buying more property in Australia
      335 6  -  By Salil Tripathi THE AUSTRALIAN property market continues to remain depressed and Singapore buyers are being credited for giving the market some solidity with selective, bargain buying. Total outflow is difficult to estimate, but observers say that Singaporeans have spent at least $100 million
      335 words
    • Article
      Lock icon Johor SEDC to offer bumis 20m shares
      279 6 Bernama JOHOR BARU The Johor Economic Development Corporation (SEDC) will share its profits with Johor bumiputras by offering them 20 million units of shares in the corporation's subsidiaries, Menteri Besar Tan Sri Haji Muhyiddin Yassin, said. He said the shares would be sold
      Bernama  -  279 words
    • Article
      Thai committee approves data processing zone
      345 6 BANGKOK A proposal to set up a data processing zone, turning Thailand into a regional centre for telecommunications and information, was approved in principle by the government's economic screening committee. the Bangkok Post reported. The Science, Technology and Energy Ministry was given three months
      345 words
    • Article
      Thailand, EC likely to extend textile pact
      240 6 BANGKOK Thailand is likely to accept the European Community's (EC) proposal to extend its bilateral textile agreement for one year, according to Foreign Trade Department director-general Chare Jutharatkul. Before flying to Brussels on Wednesday to meet the EC's textile director for Asean, Mr
      240 words
    • Article
      Lock icon India defends gold pledge for UK loans
      393 6 Reuter NEW DELHI Indian Finance Minister Manmohan Singh on Thursday defended sending nearly 47 tonnes of gold to the Bank of England as collateral for US$4OO million in loans to the cashstrapped country. "The export of gold was a painful necessity," Mr Singh
      Reuter  -  393 words
    • Article, Illustration
      Lock icon KL may issue White Paper on plot to pull Sabah out of M'sia
      439 6 Bernama KUALA LUMPUR The Malaysian government may issue a White Paper on the plot to pull Sabah out of Malaysia, which allegedly involved Sabah Foundation director Datuk Dr Jeffrey Kjtingan. Deputy Home Minister Datuk Megat Junid Megat
      Bernama  -  439 words
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      Page 6 Advertisements Column 1
      84 6 FOR BITS AND BYTE Geared to keep the busy business executive abreast of new technologies he can exploit to full advantage, INNOVATION TECHNOLOGY page provides news, reviews and features in the areas of information technology, biotechnology, electronics and just about everything high-tech. Although its primary focus is on local news,
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  • THE WORLD
    • Article, Illustration
      Lock icon Major gives Soviet private enterprise a helping hand
      506 7 Group of Seven Economic Summit Reuter LONDON Mikhail Gorbachev and British Prime Minister John Major laid "the first bricks" of Moscow's new cooperation with the West in more than five hours of talks before the Soviet leader returned home to press forward
      Reuter  -  506 words
    • Article
      Lock icon UK, Canadian firms in joint ventures with Soviets
      386 7 AFP LONDON British and Canadian companies on Thursday announced large joint ventures with Soviet partners to develop oil fields and sell computers in the Soviet Union. The announcements came one day after the Group of Seven offered Soviet leader Mikhail Gorbachev technical
      AFP  -  386 words
    • Article
      Lock icon Recovery will widen US trade deficit, say analysts
      225 7 Reuter NEW YORK America's U554.57 billion May trade deficit reflects a strong performance by exporters but the gap will widen this year as the US recovery increases demand for imports and the slowing Japanese and European economies depress exports, say economists. "The
      Reuter  -  225 words
    • Article
      Lock icon Workforce in 6 Asian economies up
      411 7 OECD's Annual Employment Outlook Report AFP PARIS The workforce in the six dynamic Asian economies soared 46 per cent between the mid-1970s and the end of the 1980s, according to an OECD report published here on Thursday. Strong economic growth by Singapore, Hongkong, South
      AFP  -  411 words
    • Article
      Lock icon Govts warned not to seek quick fixes to job losses
      372 7 Reuter PARIS AVERAGE unemployment in the OECD area will rise sharply in 1991, but governments should avoid the temptation to seek a quick fix at the expense of fundamental long-term labour market reforms, the OECD said yesterday. "While the recent
      Reuter  -  372 words
    • Article
      Lock icon UK job figures point to economic recovery
      205 7 IHT LONDON The first real evidence that the British economy may be turning the corner came on Thursday when the government released better-than-expected June unemployment data showing a seasonally adjusted monthly increase of 59,700, to 2.3 million. The increase was the smallest since
      IHT  -  205 words
    • WORLD WATCH
      • Article
        US guarantees US$17m bank loan to Soviets
        98 7 WASHINGTON The US government's ExportImport Bank agreed on Thursday to guarantee a US$l7.3 million loan by a private bank to the Soviet Union, the first such guarantee in 17 years. Participants in a deal to sell US equipment for manufacturing batteries to the
        98 words
      • Article
        Japan wraps up Soviet loan terms
        78 7 TOKYO The Export-Import Bank of Japan is finalising repayment terms of a US$lOO million loan to the Soviet Union, expected to be less than five years at an interest rate of 7.7 per cent. A bank official said the loan by the govern-ment-owned bank
        78 words
      • Article
        German inflation likely to soar
        64 7 FRANKFURT Higher taxes which took effect this month are expected to help push the west German inflation rate above 4 per cent in July, the sharpest rise for over eight years, economists said. They forecast a June to July price rise of 0.7 or 0.8
        64 words
      • Article
        Private financing for ministries
        71 7 BONN Chancellor Helmut Kohl's Cabinet ordered all ministries to examine and develop ways of stimulating greater use of private financing for infrastructural investments, especially in eastern Germany. The Cabinet gave most ministries no deadline. It was acting on the recommendation of Finance Minister Theo Waigel, who
        71 words
      • Article
        India to unveil industrial policy
        72 7 NEW DELHI India's eagerly awaited and already controversial new industrial policy will be unveiled by the end of the week, Prime Minister PV Narasimha Rao said. He declined to give detailed replies to a barrage of questions in parliament about the policy, which has been
        72 words
    • Article
      Lock icon Eastern Germany hit by brain drain of scientists
      606 7 Reuter BONN A brain drain of top scientists from former communist East Germany is jeopardising the depressed region's chances of developing its own modern industry. Despite appeals from the Bonn government to set up factories in the east, most west German companies
      Reuter  -  606 words
    • Article
      Lock icon Bonn's bid to help former East Germany may backfire
      348 7 IHT FRANKFURT Some of the Bonn government's efforts to aid the former East Germany eould be doing more harm than good, the Bundesbank warned in a report issued yesterday. In its latest monthly report, the central bank said that wage subsidies
      IHT  -  348 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Stocks close off day's high in late profit-taking
      4833 8 SHARE PRICES in Singapore closed higher on a broad front in moderate trading yesterday, but late profit-taking took many off the day's highs. The key Straits Times Industrials Index closed at 1,455.88. up 8.53 points from Thursday's close, while the Business Times-Morgan
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    4014 9 Main Board SPH Foreign 1320 20 +1.5% Isetan50* 590 +20 +3.5% CK Tang 344 +20 +6.2% Weames 414 +12 +3.0% Hong Fok 220 +11 +5.3% SL\ 200 1330 10 0.8% Semb Shipyard 650 +10 +1.6% NatSteelSO" 492 +10 +2.1% OU Securities 158 +10 +6.8% UOB
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Further buying support pushes prices higher
      4187 10 Bernama SHARE PRICES closed higher on further buying support yesterday as investors, discounting reports of probes into insider trading, looked forward to a better week ahead. The KLSE Composite Index rose 3.15 points to 592.69 while the Industrial Index gained 8.1 points to 1,125.03.
      Bernama  -  4,187 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      44 10 DO WE NEED) FOREIGN FOOTBALLERS? They sccre every other goal, they win all the glory, and they earn all f bucks. But do they like professionals? twedmder estigates and asks: good for the sport? lateil news and mu<A mor*. From luncMimw. Monday to Saturday.
      44 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nervous investors stay out of scandal-riddled market
      2230 11 Reuter TOKYO STOC KS ended mixed in light trade yesterday. Index-related buy-and-sell programs bounced the Nikkei up and down during the day. However, movement was limited ahead of the weekend and with the market's nerves strained by a string of brokerage and industrial
      Reuter  -  2,230 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Market closes at record high of 4,009.35
      1997 11 Reuter SHARE PRICES closed at a record high yesterday after holding steady above the 4,000 level despite a bout of late morning profit-taking, brokers said. The Hang Seng Index gained 32.52 points to close at 4,009.35. The blue chip indicator earlier soared to
      Reuter  -  1,997 words
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  • REGIONAL STOCK MARKETS
    • Aussie index rallies to 3-month high
      • Article
        Untitled
        457 12 INDiCES TURNOVER Close Previous Jul) 19 AUSTRALIA All Ordinaries Index 1.550 5 1.540 7 +9.8 All Industrials Index 2.361.7 2.352.3 +9.4 All Resources Index 926.3 9168 +9.5 Turnover (million) 102.6 84.3 18 3 BANGKOK SET Index 677.33 652 54 24.79 Turnover (million baht) 3.300 1.980 +1.320 JAKARTA Composite Index 322.97
        457 words
      • Article
        AUSTRALIA
        809 12 ENCOURAGING COMMENTS from Reserve Bank Governor Bemie Fraser on the economic front pushed the Australian share market's leading index to a three-month high yesterday. Mr Fraser said he saw scope for an easing in monetary policy if lower inflationary expectations were met, and said the Consumer Price Index could
        809 words
      • Article
        BANGKOK
        745 12 THAI STOCKS rallied strongly on a moderate turnover of 3.3 billion baht yesterday, with finance issues leading the broad-based advance, brokers said. The SET Index gained 24.79 points to close at 677.33, partly offsetting its 87-point decline this month. Siam Cement rose 60 baht to 664, Siam City Cement
        745 words
      • Article
        JAKARTA
        641 12 FOREIGNERS, the market's prime mover and estimated to account for up to 80 per cent of daily transactions, continued to stay away in droves from the Jakarta stock exchange yesterday. "Foreigners are fed up with this market. I can't see any coming in here for another six months; there's
        641 words
      • Article
        MANILA
        599 12 PHILIPPINE SHARES rebounded yesterday after President Corazon Aquino announced oil price cuts to head off a general strike set for Monday. But brokers said the rally could just be a brief interruption to a longer decline. The Manila Stock Exchange composite index jumped over 4 per cent, or 39.47
        599 words
      • Article
        SEOUL
        747 12 PROFIT-TAKING in response to recent sharp advances slightly outweighed aggressive individual buying on the Seoul stock market yesterday. Stocks ended a very active day fractionally lower after fluctuating in a narrow range, brokers said. The composite stock index shed 1.21 points to 650.06. Volume was heavy at 27.08 million
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      • Article
        NEW ZEALAND
        356 12 THE New Zealand share market closed lower yesterday, despite investor interest in Telecom shares spilling into the stock's second day on the market. Brokers said trading appeared tired after a marathon 14-hour session on Thursday when Telecom joined the market. The softer mood was fuelled by Fletcher Challenge
        356 words
      • Article
        TAIPEI
        416 12 THE Taiwan stock market was closed yesterday due to Typhoon Amy, the Taiwan Stock Exchange said. The weighted index finished at 5,229.99 on Thursday, 4.23 points higher than Wednesday's 5,225.76 close Turnover was NTS 17.5 billion. The market will reopen today. Taipei July 18 NTS VoKTO) All Sincere Ind
        416 words
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  • WORLD STOCK MARKETS
    • Dow surges past 3,000-point level
      • Article
        Untitled
        515 13 INDICES TURNOVER NEW YORK flow Previous July 18 Dow Jones NYSE Financial SAP 500 Turnover (million) 3,016.32 2.978.76 154.65 153.36 385.37 381.18 200.93 195.46 37.56 1.29 +4.19 5.47 LONDON Financial Times 30 FTSE 100 Turnover (million) 1,969.0 2,547.3 459.3 1,978.6 2,561.0 575.4 -9.6 -13.7 •116.1 FRANKFURT DAX Index 1,618.33 1,625.51
        515 words
      • Article, Illustration
        NEW YORK
        1355 13 WALL STREET stocks catapulted in active trading on Thursday, propelled by a buying frenzy ignited by a relative lack of poor corporate earnings reports and optimism on the outlook for the US economy. The Dow Jones Industrial Average, which slipped 5.14 points on Wednesday, surged 37.56 to 3,016.32
        1,355 words
      • Article, Illustration
        LONDON
        604 13 UK SHARES lost ground on Thursday, closing just off the day's lows, as the market paused for breath after breaking record highs in the last few days, dealers said. A weak futures market played a large part in London's fall, after sparking the week's heady start on optimism that
        604 words
      • Article
        FRANKFURT
        314 13 FRANKFURT share prices fell back in thin trading on Thursday, with the DAX index ending the day 7.18 points lower at 1,618.33. The Commerzbank index shed 5.80 points to 1,910.80 as investors adopted a wait-and-see attitude on concern over the fall in the US dollar. Construction and public works
        314 words
      • Article
        PARIS
        137 13 HEAVY BUYING in oil stocks boosted volume on the Paris bourse on Thursday but lack of interest in most other issues left the blue chip index hardly changed. The CAC-40 index has now ended in the same tight six-point range for seven consecutive sessions. On Thursday, it finished at
        137 words
      • Article
        JOHANNESBURG
        371 13 SHARE PRICES in Johannesburg continued to claw their way back to higher ground on Thursday after the setback of a week ago, driven by unwavering bullish sentiment. Dealers said sentiment continues to be buoyed by improving overseas perceptions about South Africa after recent political and economic developments, and predicted
        371 words
      • Article
        AMSTERDAM
        292 13 DUTCH SHARES ended a thin and lacklustre trading day mostly firmer, with most price movements stuck within a narrow range, dealers said. "It was quiet. Most investors, if at home at all, remained sidelined," said one dealer. The CBS tendency index finished 0.2 point up at 93.9, aided by
        292 words
      • Article
        MILAN
        212 13 ITALIAN STOCKS maintained their opening gains to close higher on Thursday, but volume remained low and brokers were cautious about the market's short-term prospects. The MIB index finished 1.31 per cent higher to close at 1,084. Operators said the renewed tension in the four-party coalition and uncertainty about whether
        212 words
      • Article
        TORONTO
        277 13 TORONTO STOCKS continued to climb in late trade on Thursday to end the day on a positive note in the largest volume the market has seen all week, dealers said. "It was a good day today for a change," John Ing, president of Maison Placements Canada Inc, said. The
        277 words
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      Page 13 Advertisements Column 1
      95 13 The Zurich report was not available You may have been unable to get your Business Times, Straits Times, Sunday Times, LianHe Zaoßao and other daily newspapers from your usual newsstand because of the higher demand lately. To ensure a daily copy, call Customer Services Section on 740-1839 or 740-1840, and
      95 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Lock icon Mark firms against US dollar in Tokyo on strong overseas buying
      1175 14 REPORTS Reuter ASIA Tokyo: The US dollar closed easier against the yen, and sharply lower against the mark yesterday. Dealers said mark buying by both local and overseas speculators was seen, but trade was largely quiet, mainly dealer position
      Reuter  -  1,175 words
    • Article
      Lock icon Kuwaitis told not to dump dinars for dollars
      369 14 Reuter KUWAIT Kuwait's central bank, fearing a flight of capital out of the country, has urged depositors not to dump dinars for dollars after restrictions on cash withdrawals are lifted on Aug 3. The bank's governor, Sheikh Salem Abdul-Aziz alSaud al-Sabah, said
      Reuter  -  369 words
    • Article
      Lock icon Value of Nigerian naira continues to fall
      234 14 Reuter LAGOS Currency speculation and liquidity-fuelled high demand for scarce foreign exchange are still undermining the value of Nigeria's naira currency after five years of free market economic reforms. "As long as demand is high and it is being backed with cash the
      Reuter  -  234 words
    • Article
      FINANCIAL FUTURES
      1215 14 SIMEX EURODOLLAR Open High Low Sett Est Vol Op/Int Vol Sep 91 93.73 93.74 93.72 93.73 4835 ***** 5340 Dec 91 93.13 93.14 93.12 93.13 4060 ***** 6730 Mar 92 93.04 93.06 93.04 93.05 2045 ***** 3256 Jun 92 92.65 92.67 92.65 92.67 438 1811 929 Sep 92
      1,215 words
    • Article
      INTERBANK FOREX RATES
      399 14 Crass rates July 19 I USS SS MS Dm Yen SFr AS NZS USS 1.7525 2.7835 1.7745 137.35 0.6006 1.5380 1.2953 1.7746 SS 0.5706 1.5883 1.0126 0.7837 0.3427 0.8776 0.7391 1.0126 MS 0.3593 62.96 0.6375 0.4934 0.2158 0.5525 0.4654 0.6376 Dm 0.5635 0.9876 1.5686 77.40 0.3385 0
      399 words
    • Article
      MONEY MARKET
      537 14 Interbank rates S$ Bid Offer Overnight 4 1/2 4 3/4 I month 5 3/8 5 1/2 2-month 5 7/16 5 9/16 3-month 5 1/2 5 5/8 Overnight mode: 4-1/8 ISS Bid Offer T\iw 5 15/16 6 1/16 1 month 5 15/16 6 1/16 2 months 5 15/16 6
      537 words
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  • COMMODITIES
    • Article
      Lock icon US oil imports fall sharply in first half
      261 15 Reuter WASHINGTON US oil imports slid by over 1.1 million barrels in the first half of this year to 7.3 million barrels per day, the largest drop in nine years, the American Petroleum Institute (API) reported on Wednesday. But government analysts said
      Reuter  -  261 words
    • Article
      Lock icon S African producer sees strength in gold market
      501 15 Reuter JOHANNESBURG The head of gold operations at Anglo American Corp of South Africa Ltd said the metal's recent resilience was cause for optimism. "Indeed we're fairly bullish on the gold market in the short term now," Clem Sunter, chairman of Anglo's
      Reuter  -  501 words
    • Article
      M'sian crude palm oil ends steady in thin trade
      838 15 REPORTS MALAYSIAN crude palm oil prices closed steady yesterday after a volatile session which reflected movements on the futures market, dealers said. Trading remained thin as operators were cautious about taking up positions amid uncertainty over the market's direction after the
      838 words
  • Article
    PRICES
    1394 15 Rubber j u i y 19 HAS (fcfc hi Mig S cents/kg Noon Close Int I RSSPrompt 14I.5<VI42.50N 141.75/142.75N Int I RSS Aug 91 142.5CVI43.00 142.75/143.25 Int 1 RSS Sep 144.00/144 50 144.25/144 75 Int 2 RSS OP 14I.75/I43.75N I4I.75/I43.75N Int 3 RSS OP 139.75/141.75N 139.75/141.75N Int 4 RSS
    1,394 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      11 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page
      11 words
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      Page 15 Advertisements Column 2
      724 15 BUSINESS TIMES TELEPHONE: 730-5771/5772/5773 FAX: 734-4982 UQUOR LICENCE NOTICE NOTICE IS HEREBY GIVEN that, I, Lim Cheng Hwee of Blk 39-A Commonwealth Avenue,#l3-330, Singapore 0314, have applied for a Retail Liquor Shop licence in respect of premises at M/s Teck Seng Mini-Market at Blk 157, Mei Ling Street, #01 -68,
      724 words
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  • Article, Illustration
    Kan Seng urges Asean to set new directions in ties
    538 16  -  Meeting of Asean foreign ministers in Kuala Lumpur From Yang Razali Kassim in KUALA LUMPUR SINGAPORE, which will host the Fourth Asean Summit in January, said here yesterday that Asean must set new directions in economic and political co-operation. The
    538 words
  • Article
    Lock icon UK govt to set up independent inquiry into BCCI closure
    391 16 Reuter LONDON The British government said yesterday it would launch an independent inquiry into events surrounding the closure of the Bank of Credit and Commerce International (BCCI). "I have agreed there should be an independent inquiry into the supervision under
    Reuter  -  391 words
  • Article
    Ministers agree on need for more economic integration
    464 16 THE 24th Asean foreign ministers meeting opened here yesterday with a big push for greater economic integration within Asean. Malaysian Prime Minister Mahathir Mohamad launched the meeting with a clear endorsement of Thailand's proposal for a free trade area by the turn
    464 words
  • Article, Illustration
    Lock icon Belgrade may let Slovenia go, but not Croatia
    295 16 Reuter BELGRADE Yugoslavia's leaders seem ready to let Slovenia become an independent state but have tightened the noose around breakaway Croatia, diplomats said yesterday. The collective state presidency decided on Thursday to withdraw the federal army from Slovenia, relaxing weeks of pressure
    Reuter  -  295 words
  • Article
    Asean extends diplomatic recognition to SNC of Cambodia
    325 16 ASEAN officially announced yesterday that its member countries would accredit representatives to the Cambodian Supreme National Council (SNC). In a joint statement on the Cambodian question, Asean foreign ministers meeting in Kuala Lumpur said they were greatly encouraged by the progress made
    325 words
  • Article
    Lock icon Thai Budget passes first reading in House
    393 16 Reuter BANGKOK Thailand's military-dominated Parliament approved in principle an expansionary national Budget for the fiscal year starting Oct 1 that features tax and industrial reforms to spur economic growth. The National Legislative Assembly unanimously passed, after a short debate, the first reading of
    Reuter  -  393 words
  • Article
    Lock icon KL denies Bank Pertanian had M$250m losses
    303 16 Bernama KUALA LUMPUR Agriculture Minister Datuk Seri Sanusi Junid denied an allegation by opposition leader Lim Kit Siang that Bank Pertanian suffered losses amounting to MS2SO million (SSIS7 million) and said that it had been directed to allocate MSS7O million for loan purposes
    Bernama  -  303 words
  • Article
    Lock icon Tokyo ministry set to tighten control of securities industry
    343 16 Reuter TOKYO Japan's Finance Ministry (MOF), under fire for lax supervision, is gearing up to tighten its monitoring of the securities industry after a series of scandals involving the Big Four brokerages rocked the stock market. An official at the Finance
    Reuter  -  343 words
  • Article
    Lock icon Taiwan state companies told to buy from US and Europe instead of Japan
    313 16 Reuter TAIPEI Taiwan has asked all its state companies to cut purchases from Japan and buy instead from the United States and Europe to help reduce Taipei's rising trade deficit with Tokyo, the Board of Foreign Trade
    Reuter  -  313 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon Tour of duty (and more?)
      1554 17  -  Are all military men from abroad girl chasers or worse, Aids carriers? Julie Chatterjee and Harish Mehta meet four US Air Force personnel and discover a rum bunch out to have a good time, but who also know their limits Harish Mehta WOULD you try
      Picture by Chris Loh  -  1,554 words
    • STRAWS IN THE WIND
      • Article
        Sales misinfo
        85 17 THE DAY of the informed sales assistant seems far, indeed. Take the case of one shopper who wanted to buy a leather bag and was served by a salesgirl who was full of enthusiasm but even more of misinformation. She said the bag was from Italy (it was
        85 words
      • Article
        Zip blunder
        73 17 THERE are times when it doesn't always pay to be a good Samaritan. Upon seeing a lady shopper with her huge bag unzipped and the contents on the verge of spilling out, a colleague instinctively spluttered (rather loudly), "Hey, your zip's open!" Instead of checking her bag, though,
        73 words
      • Article
        Just like the movie
        78 17 THE passengers on an American airline were wondering whether the plane had installed a sensurround system during the screening of the movie Memphis Belle. During a scene in which the plane was rocking back and forth in bad weather, passengers swore it was so lifelike they
        78 words
    • OPINIONS
      • Article, Illustration
        Low blow Down Under
        1032 18  -  Tye Kim Khiat comes across some prejudiced reporting on the Asian dragons Tye Kim Khiat The writer is a Melbourne-based journalist Australia has turned dragon-slayer like the knights of yore. That was the distinct impression 1 got after watching a recent documentary series titled The Broad
        1,032 words
      • Article, Illustration
        Poverty — a national concern
        601 18  - Poverty a national concern Shoeb Kagda discusses the X factor in upward mobility in society Shoeb Kagda The writer is a BT journalist COMMUNITY-BASED help for the less fortunate among us has been touted as the best method of ensuring that no one will get left too far behind in
        601 words
      • Article, Illustration
        What's in a name?
        228 18  -  LETTER TO THE EDITOR Quah Soon Tong IN THE beginning, there were four. Now there are ten. I am referring to the NIEs. Originally, the term Newly Industrialised (Industrialising?) Countries (NICs) referred only to the four Asian Tigers (or Dragons) of Hongkong, Singapore, South Korea and
        228 words
    • SPORTS
      • Article, Illustration
        Lock icon Ballesteros grabs lead
        759 19 The British Open AP SOUTH PORT, England Spaniards frolicked in the first round of the British Open on Thursday as Seve Ballesteros grabbed the lead with a 66, Santiago Luna shot 67 and Jose Maria Olazabal got cuddled by a streaker. Ballesteros capped an eagle-birdie finish with
        AP  -  759 words
      • Article
        Lock icon Walker recovers from bogey-bogey-double bogey
        533 19 AP NEW ROCHELLE, New York Steaming along on a steamy day. Colleen Walker fell asleep. It nearly cost her the lead in the LPGA Big Apple Classic. Walker shot a 5-under-par 30 on the front nine on Thursday in 95-degree heat in the opening round
        AP  -  533 words
      • Article
        Lock icon Stich faces Krajicek in quarterfinals
        301 19 UPI STU rTGART, Germany Top-seeded German Michael Stich on Thursday advanced to the quarterfinals of the US$l million Mercedes Cup with an impressive 6-3, 6-3 victory over Spain's Javier Sanchez. The Wimbledon champion stunned his 66th ranked opponent and the sellout crowd of 6,000 with
        UPI  -  301 words
      • Article
        Lock icon LeMond unfazed by drop to second
        207 19 AP JACA, Spain Greg LeMond is more concerned about who is with him than he is about who is in front of him. Charly Mottet of France won his second consecutive stage and another Frenchman. Luc Leblanc, took over the overall lead from LeMond
        AP  -  207 words
      • SIDE LINES
        • Article
          Lock icon Foreman — going from slugging to singing
          119 19 Foreman going from slugging to singing AP HOUSTON On top of his careers as a boxer and evangelist, George Foreman is stepping out of the ring to serve as host for his own entertainment special for a cable television network. HBO wants the show, scheduled for late this year, to
          AP  -  119 words
        • Article
          Lock icon Piatt ready to switch clubs
          81 19 AFP BIRMINGHAM, England England star David Piatt looks certain to move from Aston Villa to Italy or France. But he said on Thursday he was clueless about £6 millionplus transfer talks between his club Aston Villa and Bari of Italy. French champions Olympique Marseille are
          AFP  -  81 words
        • Article
          Lock icon Zelezny, Onyali lead the field
          104 19 AP NEW YORK Javelin thrower Jan Zelezny of Czechoslovakia still is the men's overall leader in the Mobil Grand Prix track and field standings and sprinter Mary Onyali of Nigeria is the women's leader. After several fine performances at Wednesday's Golden Gala in Rome, the
          AP  -  104 words
        • Article
          Lock icon Easy comeback win for Seles
          132 19 AP MAHWAH, New Jersey Monica Seles returned to tennis on Thursday night with a match so easy it raised nary a grunt from the world's No 1 women's player. Seles needed just 42 minutes to defeat Andrea Leand 6-0, 6-2 in her first match since
          AP  -  132 words
      • Article
        Lock icon Fish size shrinking on Great Barrier Reef
        441 19 AP BRISBANE The size and amount of fish caught on the Great Barrier Reef is declining dramatically and could result in moves to limit sport fishing, conservation officials said yesterday. The results of a survey last year of 1,050 sport fishermen between Cairns
        AP  -  441 words
    • EPICURE
      • Article, Illustration
        Where's the sizzle?
        626 20  -  Jennifer Lien finds Min Jiang Sichuan's set lunch not as hot as expected Jennifer Lien THE atmosphere was pleasant, and the service efficient and unobtrusive. The rock garden with its clumps of bamboo and little streams and bridges outside imparted a sense of tranquility on a hot
        626 words
    • LIFESTYLE
      • Article, Illustration
        Unravelling a myth
        961 21  -  Singapore Zoo hopes to get snow leopards next year. Nirmal Ghosh writes about the elusive animal, the least known and remotest of the big cats Nirmal Ghosh SINGAPORE ZOO will hopefully be getting a couple of snow leopards on loan from Moscow Zoo next year, as part
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      • Article, Illustration
        Calling all bridge fans
        310 21  -  BRIDGE By Sybil Holloway THE Annual Pesta Sukan Festival organised by the Singapore Contract Bridge Association will be held on Aug 8-U at the Seaview Hotel. As usual, many entries are expected from Thailand, Malaysia. Indonesia, Japan and other neighbouring countries. Interested participants may enter for
        310 words
      • Article, Illustration
        The magnificent Vouvrays of Gaston Huet
        701 21  -  WINE By N K Yong Most of us tend to take Loire wines for granted, thinking in terms only of Sancerre and Pouilly Fume. This is especially true where the few examples available of Vouvray and Chinon wines are of nondescript quality. Just about
        701 words
    • PURSUITS 1
      • Article, Illustration
        No. 1 and hot
        486 22  -  Jesse Boone meets Lisa Fischer, soul music's sex symbol Jesse Boone PEOPLE decide whether a record is good or not," Lisa Fischer says with a girlish giggle. If that's so, then the people have spoken. Fischer's debut album. So Intense, is brand new (on Elektra) and
        486 words
      • Article, Illustration
        Unforgettable Nat King Cole
        607 22  -  CD Review By RINGO LIEW NATALIE COLE: Unforgettable With Love The two qualities that shine brightly through this recording are courage and love. Natalie Cole shows gumption in taking on the awesome legacy of her father, and affection in putting together this tribute to the work
        607 words
      • Article, Illustration
        The Life cycle of a joint film company
        567 22  -  Jennifer Lien has the details of its first major project Jennifer Lien PRODUCER John Kao is at it again. One of the co-producers of Steven Soderbergh's lies and videotape has made good his intentions to tap Singapore's moviemaking potential by forming a
        567 words
      • Article, Illustration
        An officer, some gentlemen, and what a lady
        735 22 Technical sergeant Mary Freeman, Major Chuck Ketchei, Staff Sergeant Labon Hardy and Master Sergeant John Dee are all away from home and that can be quite hard when you're with half or part or no family accompanying you. But it's much harder
        735 words
      • Article, Illustration
        Dilemma of a forest people
        1072 23  -  Nirmal Ghosh breaks bread with the Penan, children of the Borneo jungle, and finds a civilisation caught between two worlds Nirmal Ghosh A LOGGING camp in Sarawak is a depressing place in which to spend five hours waiting. But I had company. Around me six
        1,072 words
      • Article, Illustration
        Bargain-hunting, Brit-style
        1003 23  -  There's a bright side to the recession in the UK, Neville Stack reveals Neville Stack SINGAPOREANS returning from the big trip to Britain often come back with horror stories about the cost of living: "The Tube is so expensive compared with the MRT, and the poor things don't
        1,003 words
      • Article, Illustration
        Mozart capital of Europe
        785 23  -  Soh Tiang Keng takes in the sights and sounds of magical Vienna Soh Tiang Keng TO SEE the rolling plains of the legendary Vienna Woods, and to know that this magnificent meadow was what inspired Beethoven to compose his Pastoral Symphony, Mozart his Ave Verum and
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    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          Hogging the limelight
          175 24  -  Compiled by Lee Han Shih IT WAS going nicely until the pigs came in. On Monday, Pan Pacific Hotel was the setting for an increasingly familiar scene these days the initial public offering (IPO) of a Singapore company. This time the listing aspirant was Singapore Electronic Engineering
          175 words
        • Article
          Armed with a reply
          106 24 THE HOG incident was, however, the only light-hearted moment in the entire SEEL press conference. In fact, the atmosphere became noticeably tense when the presentation was over and it was time for officials to answer some probing questions. A senior official, when asked how much of
          106 words
        • Article
          Room for improvement
          57 24 WHY is City Developments' Grand Hyatt in Taipei, a businessmen's hotel, offering "special examination packages" for students? Because they are willing to pay a few hundred dollars a night each for a nice quiet place to prepare for the gruelling entrance examination to the university. All Taipei
          57 words
        • Article
          0ops...
          83 24 TWO weeks ago this column mentioned a company called Alwyn Development which bid for an Urban Redevelopment Authority site at Holland Road. We said the company was the developer of Avon Park and was connected to some Indonesian interests. Well, looks like we made a boo-boo. Avon Park is
          83 words
      • Article, Illustration
        Valuing the future earnings of shares
        871 24  -  Chew Eng Han examines the discounted earnings method of stock selection Chew Eng Han THE METHODS by which analysts select stocks are probably as varied as their personalities. Some go for stocks with low price-earnings ratio (PER), others look at the ratio of share
        871 words
      • Article
        A new battleground for SEEL
        967 24  -  Carolyn Lim takes a closer look at the SEEL's businesses and prospects STOCK Carolyn Lim I T CALLS itself an electronic system house. Analysts generally think of it as yet another ofTer from the Singapore Technologies (ST) group. And to the man-in-the-street, it could be
        967 words
      • Article
        Make it your policy to get this
        575 24  -  A buyer of life insurance should take to the 'dread disease' policy, says Diana Oon Diana Oon IT WAS THE brainchild of a marketing consultant in South Africa, and today, a product offered by many life insurers. The so-called "dread disease" policy is
        575 words
      • Article, Illustration
        Time to buy
        509 24  -  CHART By Najeeb Jarhom Najeeb Jarhom is research manager of Fraser Roach Co There are plenty of reasons, both technical and fundamental, for the Singapore stock market to shed its lethargy and create a new momentum for the next leg of the bull cycle. Investors and punters
        509 words
      • Article
        How to make full use of your credit card
        1213 25  -  That piece of plastic is no longer just a convenient way of paying hotel and restaurant bills. If used intelligently, it can also be used to gain maximum financial leverage. Shoeb Kagda has the details Shoeb Kagda American Express, Visa, MasterCard
        1,213 words
      • Article, Illustration
        Two cards are better than one — here's why
        304 25 Two cards are better than one here's why A HYPOTHETICAL example: John owns an American Express and a Visa card. Assume American Express bills its card user on the 10th of each month and Visa on the 20th of each month. To maximise his credit, John could charge purchases made
        304 words
      • Article, Illustration
        Looking ahead — stocks to watch, stocks to avoid
        827 25  - Looking ahead stocks to watch, stocks to avoid Interim results can serve as an outlook indicator, reports S N Vasuki S N Vasuki IT IS that time of the year again when Singapore companies announce their half-yearly results, and investors are looking forward to them with a great deal of
        827 words
    • JOBS
      • Article, Illustration
        Coping with the new Japanese manager
        1284 26  -  Takashi Kurisaka, managing partner of the Tokyo operations of the executive search firm Egon Zehnder, speaks to S N Vasuki about now Japanese companies are adjusting to changing attitudes towards work and hiring outsiders to head their overseas operations S N Vasuki Takashi Kurisaka's
        1,284 words
      • Article, Illustration
        EXECUTIVE MOVES
        367 26 Narayanapillai Sugumaran has been appointed to the board of directors of Fujitec Singapore Corporation Ltd to represent Fujitec Co Ltd, Japan. He is currently the senior manager of sales marketing. He has been with company since 1973. Norio Nakaoka is the new senior representative, Singapore office of Mitsui
        367 words
      • Article, Illustration
        Lock icon Japanese continue to work long hours
        894 26 Move to cut the number of hours worked faces obstacles NYT Despite calls from foreign critics and many segments of Japanese society to reduce the number of hours they work, Japanese continue to put in much longer hours on the job than their Western
        NYT  -  894 words
    • THE TRAVEL PAGE
      • Article, Illustration
        Outstretched arms for tourists
        608 27  -  LETTER FROM PORTUGAL By Judith Matloff THE AZORES are a paradise for the tourist, offering spectacular hiking on volcanic peaks, fine beaches and whale-watching from villages brimming with tropical flowers. Visitors can stay at 19thcentury villas with ornate gardens, fish for tuna or play golf in
        608 words
      • Article
        MONEY CHANGER RATES
        153 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.348 1.368 Canadian dollar I.S02 I.S32 NZ dollar 0.9770 1.007 Sterling pound 2.9100 2.9400 US dollar 1.7450 1.7550 Ivocal dollars to 100 units of foreign currency Austrian schilling 13.90 14.90
        153 words
      • Article
        WORLD TRADE EXHIBITIONS
        119 27 Duration Title Venue Organiser Tel July 14-21 Exhibition On Buenos Aires USUAR1A *****2855 Equipment. Technology Services for Informatic Telecom m u n ica t ion July 22- Pan Pacific Hilton Asian Investment Jakarta: 23 Power Generation International Conferences **********8 Conference Jakarta (Pte) Ltd S'pore: *****8550 Aug 6-9
        119 words
    • TIME OFF
      • Article
        THEATRE
        148 28 The Mozart Marathon Concerts The highlights of the MusicFestival is an eight-hour long marathon tribute to Mozart. Feartured will be the Singapore Youth Choir and Orchestra, the Combined Schools Symphonic Band and Choir, students from l a Salle, plus many other artistes. Guest conductor is Shalom Ronly-Riklis Victoria Concert
        148 words
      • Article, Illustration
        EXHIBITIONS
        328 28  -  Compiled by K Jayanti Selected Oil Paintings by Xu Jiachang Various oil paintings by Xu Jiachang will be on display. Orchard Point Exhibition Hall. *03-18. July 25-30. I lam-Bpm Sotheby's Exhibition of Chinese Stamps Preview exhibition of Chinese stamps amassed from the late 19th century by Major James Starr,
        328 words
    • Article, Illustration
      CINEMA
      708 28 Eat a Bowl of Tea. From the same director of Dim Sum and Chan is Missing, this Wayne Wang movie follows the lives of a Chinese community in America in 1949. Long drawn out script attempts to be a satirical look at the community's quirks but ends up neglecting
      708 words
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      210 18 WFfw 9 W Wim' m m /,W M r topping around here is Wk great. What would you like me to aV model for you? jVH "Just the diamond earrings JS Summer Package v 1 I person (approximately "%mh7**- -v. -J- Per night on Twin sharing basis. September your Hong
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      Page 18 Advertisements Column 2
      26 18 BT welcomes letters from you. Address them to: The Editor, Business Times, Tiroes House, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers.
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      48 18 DOONESBURY BY GARRY TRUDEAU /it HAD IT ALL*, I xi/i -YOUR MUZAK F~~ NOT A BUT LOOK/ 7W p V HANP T I On, M OFFWZva MfM- paj& AOVSST>e S^rrnStL 11KB Bo6lt toxxj. I tJAkfflV SBBmioee MCM smenme U^L^ U L l%iiMi- MMfW 1 iWRKJNO OltJKl <*"<» carpmuxs Jgg*
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      193 19 The Shelby Futch Golf Instruction Series CHE HOOK that, he is no better than the start left and then go more Diagnosis: The elub face is right too much underneath Correction (shown in picture make up for it. Next week, we will look sliccr. left are actually pulls and too
      193 words
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      184 20 WHERE TO WINE, DINE AND ENTERTAIN WHEBE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO 5.00 PM. HAPPY HOUR fir DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00 PM TO 2.00 AM. I
      184 words
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      Page 20 Advertisements Column 2
      366 20 mi i PLUM'S ********************1 l Vlulaysian Food Festival Make your choice from the tempting array of Malaysian delights presented to you a la hawker style. Give your taste-buds a treat and send them to heaven with Plum's Malaysian Food Festival. There're even souvenirs for you to take home and return
      366 words
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      Page 20 Advertisements Column 3
      352 20 aW 6 Why worry about breakfast or lunch on I Enjoy a lazy Sunday morning? Come down Th€ Finest or brunch wit l y° ur whole family and f r f nn «f« rti I feast on a delectable spread of hot f Cantonese-i nal dishes, soups appetizers and Buffet
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      Page 20 Advertisements Column 4
      268 20 •,iiWftVMil That's our prediction for you when you step into the Kasbah u lv live bands take you down memory lane with golden hits and evergreen*. Every night is nostalgia night. You'll be mesmerized V ark Jay* *pm 2am Ksr—kt —Surndtyp ta TburUcy* frtm 7 pmt» t/m. i* n*«« SfeS
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      232 21 AND ENTEBTAIN Family Fun Brunch Make it a family outing with a scrumptious Sunday buffet brunch at Hubertus Grill. A whole array of choice delicacies for adults. Cartoons, toys and fun for the kids. Adults $31 Kids $19+ A j. ANA HOTEL SINGAPORE ONE OF THE MAIN INGREDIENTS IN HLj
      232 words
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      9 21 Managers Must Manage BT shows you how every Monday
      9 words
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      179 21 Q SUNDAY M FAMILY BRUNCH II $13 KB (S7 for children under 12) TEEOFF CAM. |%J BAY GOI.F COUNTRY CI.UB |VW 6 MARINA CREF.N SINCAPORK 0101 iU FOR RKSERVATtONS PI .KASF. CAI.I. 221 2811/322 4221 IjgTl \\i i I y V—— —-f 1 ja vivaijn rsa T A nr Knur
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      512 25 EXPRESS SHARE LOAN The etuUat way of turning shares into csuA a*t t6e f',*; j I wwmj l^pfP No. of Point* FREE GIFTS' Quick and Easy. Get instant cash for your shares —J— over the counter at any of our 28 branches sou,(**«.* 7 1 Dor* Remy Uvtti XO (ScO
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      160 26 DHL IN THE NEWS Advertisement DHLS PLANNED DISTRIBUTION STREAMLINES DELIVERIES DHL has gone beyond own warehousing facility. On speed parts and materials just meeting the urgent delivery another level, DHL can provide direct from just one central needs of business, and is companies with a break-bulk warehouse. actually helping companies
      160 words
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    AIRCRAFT ARRIVALS AND DEPARTURES
    1167 27 f—' "M Flight ETA Flight ETD Abo Dhabi GA890 0050 Mtlahh QF81 1820 SQ227 2200 QF82 2200 RJ183 0030 Amsterdam SQ19 0755 SQ24 0100 KL837 1255 KL838 2240 SQ38 2330 GA890 2350 Auckland NZ21 1820 NZ22 1930 SQ338 2030 Bahrain GF148 1000 Bafckapan GA525/ 910 1755
    1,167 words
  • Page 27 Advertisements
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      42 27 You've got nothing Tbulouse trying Fmnair next time you go to France. With a twice-weekly service from Singapore direct to Helsinki and then to everywhere in Europe from Paris to Prague. Call *****77 for details. We know Europe from start to Finnish.
      42 words
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      27 27 For Home or Office deliveries of: Business Times, Straits Times, Sunday Times, LianHe Zaoßao. Berita Harian, Berita Mingqu, Shin Min, LianHe Wanßao call our Hotlines 740-1839. 740-1840.
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      Page 27 Advertisements Column 3
      89 27 FOR SUCCESSFUL MANAGEMENT OF YOUR lvs,mss w Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look
      89 words
  • Page 27 Miscellaneous
    • Miscellaneous
      Page 27 Miscellaneous Column 1
      231 27 with hesitation on Suna nuclear* weapon per12 Like a truant not doing 13 A small snow 14 Converted room Lulu half finished with gold16 Muscular follower of 18 "Supported" JjH~~ 20 Treeless region of the 26 I J J I I 1 j| j planet undrained (6) ■■J— 23 Unusual
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    • Miscellaneous
      Page 27 Miscellaneous Column 2
      156 27 World report Asia-Pacific Hi/Lo* Cond. Auckland 13/08 Shower Bangkok 32/23 T-Storm Beijing 33/22 T-Storm Brunei 28/22 Sunny Hongkong 31/26 T-Storm Jakarta 31/22 Fair Kuala Lumpur 31/22 Shower Manila 31/24 Shower Melbourne 18/13 Sunny Perth 17/08 Shower Seoul 28/21 Cloudy Sydney 15/06 Shower Taipei 33/24 T-Storm Tokyo 29/23 Sunny Wellington unav
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    • Miscellaneous
      Page 27 Miscellaneous Column 3
      23 27 "Tmptt's nothing SHnuun v\c ap tucm orr NOISV LOT, THP\T r.ucrc,TPg PeggV 1 Jrrr p GO»NG /v)£ c EVENING STANDARD CO. LTD.. IM2-INI
      23 words
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      Page 28 Miscellaneous Column 1
      1627 28 TODAY'S TV ■■fIHfIHHHHHPt-'v u3O TV Pendidikan. NN News (M) PM Return to Treasure 1.00 Rampai Kenyalang. 4&V 2 M BavanIftW Tt* Hitam (M) ■llft\l 300 Riang Ria Bersama Anda. BtIMV a 3>40 Dari Sabah. ittflV P r ;>. 400 Angkasapuri's Youth Club A 1 (U it 5.00 Spccial Youth Prosii
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      524 28 Gonza the Spearman, Mon, pest that appeared before 10.30pm, SBC 12 Geena Davis had problems Gonza the spearman gets with JefT Goldblum. A 1 (now himself engaged to a lord's David) Hedison plays a scidaughter so he can steal state entist who swops heads with secrets. But when his pro-
      524 words