The Business Times, 17 August 1991

Microfilm: NL17608
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, August 17-18 1991 75*
    11 words
  • NEWS & MARKETS SUMMARY
    • Article
      Dow higher
      39 1 THE US market showed a mixed performance early yesterday. After a half hour of trading, the Dow was down 4.24 but it then turned higher to show a 5.37-point gain at 3,003.80 one hour into the session.
      39 words
    • Article
      Footsie higher
      41 1 SHARE PRICES were higher at midday yesterday, boosted by an improvement in Britain's annual inflation rate. At about 1115 GMT, the FTSE 100-share index was up 1.7 points, or 0.06 per cent, at 2,618.9. Volume was 252 million shares.
      41 words
    • Article
      UK inflation set to achieve 4pc rate
      65 1 LONDON Britain is set to achieve a four per cent inflation rate by the fourth quarter in the wake of a 0.2 per cent drop in the July retail price index, the Treasury said. "We remain well on course to meet our budget
      65 words
    • Article
      June US-Japan trade deficit widens
      39 1 WASHINGTON The Commerce Dept said the US trade deficit with Japan widened in June to U553.23 billion from U552.43 billion in May. So far this year the US-Japan trade deficit has reached $19.21 billion.
      39 words
    • Article
      More for bumis
      24 1 MALAYSIA will revamp key state-owned entities with assets worth billions of ringgit to enhance the wealth of the bumiputras Page 3
      24 words
    • Article
      Focus on Chinese dailies
      31 1 SINGAPORE Press Holdings sees its Chinese newspaper readership as a powerful and influential market, and is directing its marketing efforts to its three Chinese papers Page 3
      31 words
    • Article
      Joint HDTV venture
      32 1 FUJITSU Ltd, Hitachi Ltd, Sony Corp and the Japanese subsidiary of Texas Instruments Inc have reached a basic agreement to jointly develop computer chips for high-defini-tion television Page 4
      32 words
    • Article
      Salomon's US$1b joke
      36 1 SALOMON Brothers Inc, the giant Wall Street bond trader, has released more details of its wrongdoing in the Treasury market, including a US$l billion error that stemmed from a "practical joke" Page 5
      36 words
    • Article
      STOCK INDICES
      29 1 Friday Change BT-MGA 675.31 -10.64 Kuala Lumpur ...541.66 -9.26 Tokyo 22,814.37 -204.31 Hongkong 4,063.28 -10.06 Sydney 1,566.9 +9.9 Thursday Change New York 2,998.43 -6.94 London 2,617.22 +8.4
      29 words
    • Article
      CURRENCIES
      22 1 Exchange rates USS SS 1.7240 100 Yen S$ 1.2593 MS S$ 0.6209 Money market rates Overnight 4-7/8 +1/8 3-month 5-3/16% +1/16
      22 words
    • Article
      COMMODITIES
      39 1 London Gold am fix USS357.25 -USS0.75 R u S'pore Sep l40.00«/kg -0.25 M'sia Sep 226.50«/kg unch KL Tin Turnover 42 tonnes 22 Spot MS 15.35 /kg -0.01 Crado palm oil Turnover 1,371 lots -387 Sep MS862 /tonne +1
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  • Article, Illustration
    Marco Polo makes whopping $163m bid for JTC site
    473 1  -  By Carolyn Lim THE LISTED Hotel Marco Polo (HMP) has put in the highest bid among five of the largest property groups in this region for a government site which could be developed into a condominium project the size of Mandarin
    473 words
  • Article
    Suharto tells state firms to slow down investment
    353 1 JAKARTA Indonesian President Suharto has ordered state companies to slow down their investment activities and help ease pressures on domestic interest rates and the country's balance of payments. Mr Suharto said rapid economic growth rates, reaching 7.4 per cent annually in the
    353 words
  • Article, Illustration
    S'pore market takes another beating
    212 1 SHARE PRICES on the Singapore stock market took another beating yesterday, declining across the board. The Straits limes Industrials Index dropped 24.09 points, or 1.7 per cent, to finish at 1,393.74. But it ended off the day's low of 1390.64 as light bargain hunting had
    212 words
  • Article, Illustration
    A mandate for the economy needed
    591 1  -  General Election '91 BG Lee: Give us strong support to deal with economic changes By Anna Teo A DECISIVE victory for the People's Action Party will give it a clear mandate to deal with any unexpected turns in the economy over the long run,
    591 words
  • Page 1 Advertisements
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  • HOME NEWS
    • Article, Illustration
      PAP presents 2 lecturers as candidates
      835 2  -  General Election '91 By Anna Teo THE SECOND PAIR of new candidates the People's Action Party introduced yesterday are two lecturers, one of whom is only 31. It prompted a question: with age, and the cosy confines of an academic setting, against them, are
      835 words
    • Article, Illustration
      SDP and WP to adopt 'by-election effect' strategy
      434 2  -  By Yang Razali Kassim, Shoeb Kagda THE MAIN opposition parties will adopt the "by-election effect" strategy in this year's polls to secure more seats in Parliament. The Singapore Democratic Party (SDP), announcing its first three candidates yesterday, said it was adopting this
      434 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      511 2 Vessel Voy Wo Berth fcrwil Pgrtra Vn* toy lb B«Ht fcrw* DaparHy Marina Terminal 1 Sembawang Terminal Batamindo 1 82S M01 alongside 16 08/1700 Kota Mote* E-914 S03 atongside 18.08/0730 Brastn 1 32/91 M02 16.08/2300 Trans Auto 31 S01 alongstoe 16.08/1600 Brighton 9111 M03 ak**side 16.08/1200 Ucka
      511 words
    • Article
      CONTAINER SCHEDULE
      1149 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCI CARGO Record Bootoie/Biiance Rrits Ship Voy No Etb/Btr Period From To From Aka Bhum 516N 17/2300 1 16/1500 16/1659 16/1900 2 16/1700 17/0659 17/0900 At Waiba 61A 19/0700 1 16/1500 16/1659 16/1900 3 17/0700 17/1159 17/1400 4 17/1200 17/1459 17/1700 Afraid
      1,149 words
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  • COMPANY NEWS 1
    • Article, Illustration
      Lock icon KL revamping bumiputra entities to raise stake in economy
      424 3 Agencies KUALA LUMPUR Malaysia will revamp key stateowned entities with assets worth billions of ringgit to enhance the wealth of the bumiputras. The move will wean the bumiputras, the politically dominant Malays, from government support and give them a bigger stake
      Agencies  -  424 words
    • Article
      Readers of Chinese papers an influential market: SPH
      371 3  -  By Chew Eng Han SINGAPORE Press Holdings sees its Chinese newspaper readership as a powerful and influential market, and is directing its marketing efforts to its three Chinese papers Lianhe Zaobao, Lianhe Wanbao and Shin Min Daily. The newspaper group disclosed this
      371 words
    • Article
      Lock icon Brierley unit buys into TNT associate
      107 3 Reuter SYDNEY GPG pic, 40 per cent owned by Brierley Investments Ltd, said yesterday it bought a 2 per cent stake in Mcllwraith McEacharn Ltd for about A 52.2 million (about 552.95 million). GPG said it paid between A 52.44 and A 52.71 each
      Reuter  -  107 words
    • Article
      Will Batu Lintang's acquisition plans bring it closer to relisting?
      646 3  -  MARKET TALK By S N Vasuki DATO AHMAD Sebi, Batu Lintang Rubber's new executive chairman, has made it clear that he wants to convert the ailing property holding company into a force to reckon with. At the heart of the
      646 words
    • Article, Illustration
      Court stops SPKB from holding power struggle EGM
      341 3 KUALA LUMPUR A showdown between two factions in the Sharikat Permodalan Kebangsaan Bhd (SPKB) power struggle was put on hold by a court injunction that stopped yesterday's extraordinary general meeting. The EGM had been called by the faction led by Datuk Haji
      341 words
    • Article
      Eu Yan Sang enters KL condo project
      282 3  -  By Lee Han Shih FRESH from taking an indirect interest in a Batam golf club. Eu Yan Sang has entered itself into a condominium project in Malaysia. Yesterday, the listed Chinese herb dealer turned property player said it had activated a dormant Malaysia
      282 words
    • COMPANY BRIEFS
      • Article
        Tradewinds raises authorised capital
        43 3 TRADEWINDS Pte Ltd, a wholly-owned subsidiary of Singapore Airlines, informed the Stock Exchange of Singapore yesterday that it had raised its authorised capital from $30 million to $200 million by creating an additional 170 million shares of $1 each.
        43 words
      • Article
        UOL unit changes name
        38 3 UNITED OVERSEAS LAND Ltd has informed the SES that its wholly-owned subsidiary, UOL Investment Holdings Pte Ltd, has changed its name to UOL Tiong Bahru Plaza Pte Ltd, a property development and investment company.
        38 words
      • Article
        Earlier date for Bernard Chen
        38 3 BERNARD CHEN, the group general manager and director of Fraser Neave Ltd, will cease to function in executive responsibilities and as a director from Aug 20, instead of Aug 31, at his request.
        38 words
      • Article
        Hotel Negara profits up 50pc
        101 3 HOTEL NEGARA's profits rose 50 per cent from $453,110 to $683,422 for the half-year ended June 30. Its turnover rose from $1.77 million to $1.97 million. Income from investments rose 42 per cent to $275,000, and tax liability rose to $307,000. The company will redevelop
        101 words
    • Article
      MPHB interim profit up 200pc
      203 3  -  By Salil Tripathi MULTI-PURPOSE Holdings Bhd announced that profit after tax for the six months ended June jumped nearly 200 per cent to M 549.47 million from M$ 16.57 million a year earlier. However, profit attributable to members fell to M 537.98 million from M$
      203 words
    • COMPANY BRIEFS
      • Article
        BSkyB completing talks with Hollywood studios
        72 4 LONDON British Sky Broadcasting expects to finish talks with Hollywood studios in the next three or four weeks that it hopes will cut its programming bills, says chairman Frank Barlow. The loss-making satellite broadcaster has shaved costs to around £4.25 million (about 5512.5 million)
        72 words
      • Article
        Lower taxes for Aussie miner
        77 4 SYDNEY Australia's largest uranium miner, Energy Resources of Australia Ltd, says settlement of a tax dispute reduced its tax bill and helped boost net profit by 28.78 per cent in the 1990-91 June year. The rise in net to A 574.05 million (about 5599.4 million)
        77 words
      • Article
        Reebok suit to go on
        68 4 STOUGHTON, Massachusetts Reebok International Ltd says a Massachusetts Superior Court judge has ordered that Reebok's previously announced suit against "pump" technology co-developer Design Continuum go on, ruling that parts of the technology were confidential. Judge Margo Botsford also ruled that Reebok's proprietary information was protected
        68 words
      • Article
        CHH hopes to maintain edge
        96 4 AUCKLAND Carter Holt Harvey Ltd's performance was ahead of budget in the first quarter of its year to March 1992, and the company is hoping to maintain that edge for the rest of the year even if the domestic economy contracts a little further. CHH
        96 words
      • Article
        Still keen on newspapers deal
        65 4 TORONTO Conrad Black, the Canadian owner of the Daily Telegraph Group, is still interested in making a deal with Ralph Ingersoll II for his Birmingham Post and Mail Group and the Irish Press Newspapers. Mr Black denied recent media reports that he withdrew a bid
        65 words
      • Article
        Bond Corp swap approved
        71 4 PERTH Bond Corp Holdings Ltd says its debt-for-equity swap has been approved by a judge in the Supreme Court of Western Australia. It says Justice Neville Owen has approved a scheme of arrangement under which Bond Corp's creditors will swap their debt for a combined 90
        71 words
      • Article
        Engineering group optimistic
        92 4 LONDON Glynwed International pic sees signs of improvement in certain of its UK markets as well as outside the UK, notably in the US and Australia. The engineering group says that some of its markets may be at or near the bottom of the UK recessionary cycle
        92 words
      • Article
        Recession leaves its mark
        74 4 ZUG, Switzerland The recession in leading Western economies has affected Compagnie Financiere Richemont AG's luxury goods activities but left its tobacco interests largely unscathed. Company chairman Nikolaus Senn made no overall forecast for the business year to March 31, 1992 except to say Richemont was "cautious"
        74 words
    • Article
      Lock icon US, Japanese firms in HDTV tie-up
      378 4 Fujitsu, Hitachi, Sony, TI to jointly develop high-definition TV chips NYT TOKYO Fujitsu Ltd, Hitachi Ltd, Sony Corp and the Japanese subsidiary of Texas Instruments Inc have reached a basic agreement to jointly develop computer chips for high-definition television (HDTV), according to an official
      NYT  -  378 words
    • Article
      Lock icon Philips, Sony discuss marketing link-up
      247 4 Reuter AMSTERDAM Philips Electronics NV said on Thursday that it and Japan's Sony Corp were discussing joint cross-licensing and marketing of their next generation of audio products to cut the risks of pioneering rival music technology. Philips is working on the Digital Compact Cassette (DCC)
      Reuter  -  247 words
    • Article
      Thai stock market not expected to recover till next year
      757 4  -  MARKET TALK By Michelle Rowe THE mysterious disappearance of an outspoken Thai labour leader, mounting criticism of the Thai military junta, high interest rates and plummeting company profits are just some of the reasons why the Thai stock market plunged
      757 words
    • Article, Illustration
      Lock icon Murdoch's Kiwi paper prints its last issue
      343 4 Auckland Star succumbs to huge losses AFP AUCKLAND The owner of New Zealand's top-circula-tion evening daily, the Auckland Star, closed the newspaper yesterday due to huge financial losses. Independent Newspapers Ltd (INL), half-owned by Rupert Murdoch's News Ltd, made the move as it
      AFP; Reuter picture  -  343 words
    • Article, Illustration
      Bangkok hopes to settle train project row with Hopewell
      335 4 BANGKOK The Thai authorities hope to settle their dispute with Hongkong-based Hopewell Holdings over promotional privileges required for the elevated train project's realty developments within six weeks, according to a Bangkok Post report. Hopewell Holdings will be able to reclaim its
      335 words
    • Article
      Lock icon Boeing calls for checks on 767 thrust systems
      257 4 Reuter SEATTLE The Boeing Co said it had asked customers worldwide to inspect elec-tronically-controlled thrust reversers on more Boeing 767 airliners. Boeing also may request similar checks that could affect up to 1,438 other aircraft, a company spokeswoman said. She said the
      Reuter  -  257 words
    • Article
      Lock icon Firms on Seoul bourse post 8.6pc profit rise
      262 4 Reuter SEOUL Net profits posted by companies listed on the Seoul Stock Exchange rose an average 8.6 per cent in the first half of 1991 and sales rose 25.7 per cent, according to a report by the Daishin Economic Research Institute. Net
      Reuter  -  262 words
    • Article
      Lock icon Coke told to modify sales practice in UK
      258 4 AFP LONDON Coca-Cola's and Schweppes Beverages' (CCSB) dominance of the British carbonated soft drinks market is not against the public interest, according to findings of the anti-trust Monopolies and Mergers Commission (MMC). But the MMC's investigation of the industry did find that
      AFP  -  258 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      77 3 TFinG COURT Canlonese Gourmet Restaurant r o WE Bf' WELL-KNOWN FOR EXCELLENT CANTONESE CUISINE. What's there to say about our food that hasn't already been said: Exquisite Cantonese I||| cuisine. The best Dian Xin' in town. And now, we've even earned ourselves an ilk an™* unsurpassed reputation for elegant dining.
      77 words
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  • FINANCIAL NEWS
    • Article
      Lock icon Salomon gives more details of wrongdoing in bond market
      447 5 AP r NEW YORK Salomon r Brothers Inc, the giant Wall Street bond trader, has re--1 leased more details of its wrongdoing in the Treasury 1 market, including a US$ 1 billion error that stemmed from a "practical joke". The admissions,
      AP  -  447 words
    • Article
      Lock icon Global financing activity down sharply in second quarter
      458 5 Reuter LONDON Global financing activity fell sharply in the second quarter of 1991 to US$l43 billion (Ss2so billion) from a record US$l56 billion in the first quarter, the Bank of England said in its quarterly bulletin. "This decline follows falls Tin public
      Reuter  -  458 words
    • Article, Illustration
      Outlook for US dollar turns mildly bullish
      593 5 DBS Bank weekly currency review USS/Dm: the bulls are back As expected, a break below 1.7300 saw the US dollar trading to a low of 1.6985 deutschemarks on Aug 8. before a reversal on the same day brought the US dollar progressively higher
      593 words
    • Article
      Lock icon Ex-Nikko staff pleads guilty to part in fraud
      510 5 Agencies NEW YORK A former vice-president of Nikko Securities Co International Inc, who worked in its New York City office, has pleaded guilty to involvement in a US$l2O million (Ss2o4 million) fraud, US federal prosecutors announced on Thursday. Mona Sun, who was
      Agencies  -  510 words
    • Article
      Lock icon BankAmerica eyeing Shawmut
      154 5 Reuter LONDON Bank America Corp is discussing the purchase of Shawmut National Corp and several other banks, according to an article i in the European ed'tion of j the Wall Street Journal yesj terday. It said the talks show Bank America's interest in expanding in the eastern
      Reuter  -  154 words
    • Article
      Lock icon Good response to Aussie bank's share offer
      229 5 AFP SYDNEY The Australian government's first attempt at privatisation, its partial sale of the Commonwealth Bank, has proved a big winner with the public, attracting far more would-be shareholders than were needed. The Asl.3 billion (Ssl.7 billion) public float the biggest ever on
      AFP  -  229 words
    • SMALL CHANGE
      • Article
        Taipei's CBC resumes re-discount business
        78 5 TAIPEI Taiwan's Central Bank of China (CBC) on Thursday resumed its "re-discount window" business to ease the short-term capital shortage faced by banks here. The resumption of the "re-discount window", a leading indicator of interest rate levels in the banking system, will make the Cfec
        78 words
      • Article
        Fed may cut interest rates
        57 5 NEW YORK The Federal Reserve, faced with a sluggish economic recovery and limp money supply growth, may lower US interest rates as early as next week. The Fed's policy-making body, the Federal Open Market Committee, meets on Aug 20 and may decide to trigger another
        57 words
      • Article
        Swiss Volksbank sacks two
        64 5 ZURICH Swiss Volksbank said it had dismissed and brought charges against two senior employees following irregularities in foreign exchange dealings. "Internal investigations have revealed irregularities in the foreign exchange department of our Basle branch," the bank said in a statement on Thursday. The bank added that
        64 words
      • Article
        Tokyo bank plans Euro-yen bonds
        54 5 TOKYO The Japan Development Bank plans to issue long-term yen bonds on the European market this year, a bank official said on Thursday. Details are being studied, the official said. The daily Nihon Keizai Shimbun reported that the amount of the planned Euro-yen bonds would
        54 words
      • Article
        Citicorp feels better about loans
        78 5 NEW YORK Citicorp's chief financial officer, who earlier this year said he believed there were some problems with non-performing loans held by the company, on Thursday said he "feels better about credit quality at Citicorp". The executive, Tom Jones, told reporters that while the credit
        78 words
      • Article
        Southeast Banking: more losses
        56 5 WASHINGTON Southeast Banking Corp said on Thursday in a quarterly financial report to the Securities and Exchange Commission that its management anticipates additional losses in 1991, but amounts are not known. The Miami, Florida, bank holding company said it and subsidiary Southeast Bank NA's capital ratios
        56 words
    • Article
      CIG Finance in A$300m loan accord
      183 5 SINGAPORE Australianbased CIG Finance. a member of UK-listed industrial gas produeer BOC Group, has signed an agreement with a group of financial institutions in Hongkong to raise a As3o() million loan. The loan agreement, signed on Wednesday, is structured as a Euro-com-mercial paper programme.
      183 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      289 5 I I I SINGAPORE INSTITUTE OF COMMERCE 1947) DEPARTMENT OF LEGAL STUDIES I Registration is open for the following programmes: U awarded by the University of London Entry requirements: 2 "A" Levels or equivalent A three-year degree programme of international standing that can be completed entirely in Singapore, leading to
      289 words
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  • THE REGION
    • NOTE BOOK
      • Article
        Thai Seagate women staff in protest
        152 6 BANGKOK More than 1,000 women employees of a US computer firm demonstrated outside the US Embassy here, saying their work was damaging their vision and poisoning them with lead. The women, employees of Seagate Technology (Thailand) Ltd, rallied on Thursday for about two hours
        152 words
      • Article
        Growth of KL plastic sector
        90 6 KUALA LUMPUR The manufacture of machinery for the plastic industry has tremendous potential in view of the rapid growth of the sector, said Malaysia's Deputy International Trade and Industry Minister Chua Jui Meng. Opening a two-day "International Symposium on Materials, Machineries and Technologies for the
        90 words
      • Article
        Hungary, Australia sign pact
        79 6 BUDAPEST Hungary and Australia signed an investment protection agreement on Thursday, the Finance Ministry said here. Australian Minister for Technology, Industry and Commerce John Button signed the document on a one-day visit here as part of a tour of Europe. He also met Hungarian Prime Minister
        79 words
      • Article
        M'sian mission to tour Mid-East
        92 6 KUALA LUMPUR A 20-member Malaysian trade mission will visit four Middle Eastern countries from Aug 19 to Sep 7. The group, comprising officials of the Malaysian Timber Industry Board and representatives of timber-based industries, will visit Turkey, Iran, Saudi Arabia and the United Arab Emirates
        92 words
      • Article
        Japan's green gesture for Asia
        71 6 TOKYO Japan said on Thursday it would supply environmentally safe equipment and expertise free of charge to help Asian countries safeguard the environment. Makoto Sugata of the Ministry of International Trade and Industry said Thailand (Miti) and China would be the first to benefit. The
        71 words
      • Article
        NZ moves to save more whales
        57 6 WELLINGTON New Zealand will push for a continuation of a moratorium on the killing of whales, Foreign Minister Don McKinnon said on Thursday in a statement. In a new initiative, he said New Zealand would seek to have the issue debated at next year's
        57 words
      • Article
        Marcos family's Swiss holdings
        97 6 GENEVA Philippine Solicitor General Francisco Chavez said the Marcos family and associates may have stashed away as much as US$3.5 billion (556.02 billion) in Switzerland. He told a news conference he had obtained from Swiss authorities documents showing that late dictator Ferdinand Marcos and his wife
        97 words
    • Article, Illustration
      Anand sees no major obstacles to Afta
      460 6 Work on the concept has gathered momentum, says Thai PM BANGKOK Thai Prime Minister Anand Panyarachun, who is pushing for the idea of an Asean Free Trade Area (Afta), told a Thai daily on Thursday that he did not foresee any serious obstacles
      460 words
    • Article
      Lock icon HK airport project: 40pc to be privately funded
      465 6 Reuter LONDON About 40 per cent of the new Hongkong airport project will be owned by the private sector, officials of the British colony said here on Thursday. Mr Yeung Kai-yin, Hongkong Secretary for the Treasury, told reporters that the airport project
      Reuter  -  465 words
    • Article
      Lock icon Australia to intensify trade campaign
      189 6 Reuter CANBERRA Australia is to intensify its campaign against Europe's trade policies with a bipartisan delegation later this year. The delegation is likely to comprise a government minister, an opposition member and a representative from Australia's main rural lobby, the National Earmers Federation (NFF). Prime
      Reuter  -  189 words
    • Article
      Thai economic growth may rise to 10pc this year
      375 6 THAILAND may chalk up economic growth of as high as 10 per cent this year, says the country's National Economic and Social Development Board. It based this project on the country's rising exports and booming tourism industry, the Bangkok Post reported.
      375 words
    • Article, Illustration
      Lock icon Suharto calls for peaceful election campaign
      499 6 Agencies JAKARTA Indonesian President Suharto appealed yesterday to candidates for next year's general election to conduct a peaceful and responsible campaign. In his state-of-the-nation address to Parliament, he also reminded wealthy Indonesians of their responsibility towards the less fortunate. The speech was delivered on
      Agencies  -  499 words
    • Article
      Lock icon Philippines divided over US bases ahead of final decision
      507 6 AFP MANILA With one month left before Washington has said it will start withdrawing troops from the Philippines unless a treaty to keep US bases here is ratified, politicians, soldiers and economists remain divided on the issue. Joined by intellectuals, each
      AFP  -  507 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      504 6 BUSINESS TIMES TELEPHONE: 7 3 0-577 1/5772/5773 FAX: 734-4982 LIQUOR LICENCE NOTICE LIQUOR LICENCE NOTICE NOTICE IS HEREBY GIVEN thai, I, Sasikumar s/o NOTICE IS HEREBY GIVEN thaU Toinh Lai Soon Kcvasan Krishna Pillai of No. 13 Kurau Terrace Lorong of Blk 19 Ghim Moh Road #01-251, Singapore 1027, M
      504 words
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  • THE WORLD
    • Article
      Lock icon US budget deficit may hit US$362b next year
      353 7 AP WASHINGTON The federal deficit will swell to a record USS362 billion (about Ss62o billion) next year before beginning a slow decline in 1995, but no balanced budget is in sight, the Congressional Budget Office said on Thursday. While the Bush administration
      AP  -  353 words
    • Article
      Lock icon Prague to begin US$80b sale of state assets from Jan 1
      331 7 AP PRAGUE State property worth an estimated US$BO billion (SSI3B billion) will be sold off to foreign and local investors, when large-scale privatisation kicks off in Czechoslovakia on Jan 1, 1992, officials said on Thursday. Following the demise of
      AP  -  331 words
    • Article
      Lock icon US anti-dumping charges on the rise
      731 7 Complaints reflect recession, say analysts FT WASHINGTON Chromeplated wheel lug nuts from China and Taiwan, fax paper from the EC, minivans from Japan these and dozens of other products, both common and exotic, are undergoing close scrutiny at the International Trade Commission (ITC) and
      FT  -  731 words
    • Article, Illustration
      Sunflowers where it should be, out in the open
      69 7 n, *u*!? n IS th bes^/ orm lattery. A Scottish horticulturalist with a passion for Van Gogh has unveiled his own version of the artist's masterpiece, Sunflowers. Andrew Scott's the Painting measures 60 metres by 75 metres and is created from
      69 words
    • Article, Illustration
      Lock icon Iraq allowed to sell US$1.6b worth of oil
      375 7 AP UNITED NATIONS The UN Security Council has approved a one-time Iraqi oil sale worth up to US$l.6 billion, and UN officials were expected yesterday to begin drawing up plans to monitor proceeds from the sale. The resolution, passed overwhelmingly on Thursday,
      AP  -  375 words
    • Article
      Lock icon Laptop screens face US import duties
      477 7 AP WASHINGTON Japanese sale of two types of advanced laptop computer screens at below-market prices has hurt US manufacturers, the International Trade Commission ruled on Thursday, paving the way for immediate imposition of stiff import duties. The three-one decision by the independent commission will
      AP  -  477 words
    • WORLD WATCH
      • Article
        Few takers for east German firms
        71 7 BERLIN Foreign investors are not playing a significant part in eastern Germany's privatisation programme, despite efforts to lure them by the government agency that is selling companies that were run by the communist state. Figures released by the Treuhand agency on Thursday show that
        71 words
      • Article
        Brazilians get their money back
        72 7 SAO PAULO Brazil on Thursday released the first tranche of bank account assets frozen in March last year under the government's anti-inflation plan. The US$l.7 bili rce -Pf' s ftp* °f 13 monthly instalments, totalling USS26 billion, by which the government plans to return the
        72 words
      • Article
        Taipei investing in S Africa
        60 7 i Taiwan government is to invest USS2O million in a South African petro-chemical plant, its biggest investment yet in the republic, the respected Business Day newspaper reported on Thursday. A formal agreement !rifv^ n China Investment and Development Company an d South African chemicals company
        60 words
      • Article
        Former Gorbachev aide under fire
        92 7 MOSCOW Mr Alexander Yakovlev, a former aide to President Mikhail Gorbachev and one of the most liberal of Soviet reformers, has been recommended for expulsion from the Communist Party by its central control commission. Mr i akovlev has been a leading target of hardline communists
        92 words
      • Article
        UK economy still in doldrums
        80 7 LONDON The British economy is "bumping along on the bottom" without any clear evidence of an end to the present recession, according to the latest quarterly report of the Bank of England published on Thursday. However, in the coming months, "the future level of output
        80 words
    • Article
      Lock icon Crown jewel of China's state industry loses its sparkle
      670 7 AP SHENYANG, China Visiting the gleaming, glass-plate office tower of the Gold Cup Auto Co Ltd is like biting into the reddest apple in the basket and finding a worm. The worm is its 60 million yuan (5519.4 million) loss in
      AP  -  670 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Oversold market seen rebounding next week
      4954 8  -  By Quak Hiang Whai THE MARKET is oversold and investors have over-reacted to the Malaysian government's call to curb consumption expenditure and inflation. These were the views of some stockbrokers who told BT yesterday that bargain stocks were fast surfacing as the Singapore and
      4,954 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3927 9 Main Board S Reinsurance 174 +16 +10.1% Inno-Pac Wt 94 39 +10 34.5% ANA Hotels 218 +8 +3.8% FAN 805 5 +0.6% NOL Pref 10* 535 +5 +0.9% Chem Ind 285 +2 +0.7% NatSteel 50» 436 +2 +0.5% PCL 50* 165 +2 +1.2% PSC 25*
    3,927 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks close lower on small-lot selling
      2204 10 Reuter TOKYO STOCKS closed easier yesterday, with trade thin due to a tack of incentives. Brokers said small-lot selling due to long margin-posi-tions reaching their six-month terms, worries about falling corporate profits, and pre-weekend position closing whittled prices. "The Nikkei is still moving narrowly
      Reuter  -  2,204 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Property stocks bear the brunt of market's fall
      1868 10 Reuter HONGKONG STOCKS closed marginally lower yesterday to end another record breaking week without the bang most analysts had been predicting. "Earlier this week everyone expected good results from the land auction, and they got them, so people took a chance to
      Reuter  -  1,868 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Market slides on wide front as selling continues
      810 11 Bernama SHARE PRICES in Kuala Lumpur ended lower across the board yesterday in a day of mostly double-digit losses following brisk selling for the second consecutive day. The KLSE Composite Index fell 9.26 points or 1.7 per cent to 541.66 while the
      Bernama  -  810 words
    • Article
      Untitled
      3377 11 1991 last Vol Day Net Cap High Low Company Sale "000 High Low P/E Smil INDUSTRIALS 245 165 AISB 50* 186 -8 28 194 186 45.4 190.8 560 310 ASM 50* 404 -4 566 408 398 36.1 1659.0 600 280 Acidchem 486 -10 32 492 486 209.0 685 192 Ajinomoto
      3,377 words
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  • REGIONAL STOCK MARKETS
    • Aussie stocks close higher ahead of budget
      • Article
        AUSTRAUA
        883 12 THE AUSTRALIAN share market closed higher yesterday due to buying support by local and overseas investors ahead of the federal budget next Tuesday. Brokers said they were surprised by the strength of the market which they had expected to be only slightly firmer. The All Ordinaries index was about
        883 words
      • Article
        Untitled
        641 12 INDICES TURNOVER Cloac Previous Aug 16 AUSTRALIA All Ordinaries Index 1,566.9 1557.0 9 9 All Industrials Index 2.398.2 2380.0 +18.2 All Resources Index 928.5 924.7 3.8 Turnover (million) 108.56 6784 40.72 BANGKOK SET Index 698.05 699.22 -1.17 Turnover (billion baht) 1.85 1.6 +0.25 JAKARTA Composite Index unav unav MANILA Composite
        641 words
      • Article
        BANGKOK
        800 12 TRADING in the Thai stock market ended the week with a slightly higher volume yesterday but brokers said the market was unlikely to turn bullish next week. The SET index ended 1.17 points lower at 698.05 on a thin turnover of 1.85 billion baht. The finance sector, which led
        800 words
      • Article
        MANILA
        509 12 PHILIPPINE shares settled mixed yesterday in a market ruled by speculation ahead of a Senate decision on the US military bases treaty and unable to sustain Thursday's rebound due to a lack of funds, brokers said. Manila's composite index lost 1.15 points to finish at 952.76. The Makati bourse's
        509 words
      • Article
        TAIPEI
        513 12 LATE SELLING pulled Taiwan share prices to finish lower yesterday as investors were discouraged after the index fell below 5,000 points, brokers said. The weighted index lost 70.55 points to close at 4,897.35 compared with Thursday's 4,967.90 finish. Turnover shrank to NTS 19.8 billion against NTS 23 billion. Dealers
        513 words
      • Article
        Untitled
        360 12 MORGAN STANLEY CAPITAL INTERNATIONAL INDICES In local currency In S$ In LS$ Aug IS day year day year day S year Index change change change change change change World 407.7 0.0 13.9 0.0 8.3 0.0 9.4 *EAFE 520.7 -0.5 10.8 -0.2 3.1 -0.2 4.1 Europe 436.9 0.2 19.9 0.6 3.4
        360 words
      • Article
        SEOUL
        766 12 A TECHNICAL rebound levered the composite stock index in Seoul above the 700 level in thin trading yesterday with buying mostly focused on automotive issues, brokers said. Institutional investors initiated buying and individuals followed suit, boosting the closing index higher. The index closed 9.13 points higher to 702.25. Turnover
        766 words
      • Article
        NEW ZEALAND
        275 12 OVERSEAS BUYING of New Zealand shares took the market up by the close yesterday, with the nation's two biggest stocks Telecom and Fletcher Challenge leading the way. Telecom was up five cents at NZ52.46 and Fletcher Challenge, which reports its final profit next week, was up four cents
        275 words
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      Page 12 Advertisements Column 1
      34 12 The Bombay and Jakarta reports were not available For Home or Office deliveries of: Business Times, Straits Times, Sunday Times, LianHe Zaoßao, Berita Harian, Berita Minggu, Shin Min, LianHe Wanßao call our Hotline 749-2577
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  • WORLD STOCK MARKETS
    • Footsie rises 8.4 points to a new high
      • Article, Illustration
        NEW YORK
        1335 13 AMERICAN STOCKS ended narrowly lower on Thursday, again not reaching new highs but also not moving significantly below 3,000 on the Dow. The Dow Jones Industrials Average ended at 2,998.43, down nearly seven points. Among the approximately 2,100 stocks traded on the New York Stock Exchange, stocks that
        1,335 words
      • Article, Illustration
        LONDON
        815 13 UK EQUITIES enjoyed another inspired day on Thursday, scaling new heights, as company comments and economic data reinforced hopes that an end to the recession may be in sight, dealers said. Advances on Wall Street, investment in smaller UK firms and a general shortage of stock helped fuel the
        815 words
      • Article
        Untitled
        87 13 INDICES TURNOVER NEW YORK Cloae in..« rrwous Aug 15 Dow Jones NYSE Financial SAP 500 Turnover (million) 2,998.43 3.005.37 159 49 160.40 389 33 389 90 174.7 212.7 -6 94 -0.91 -0 57 -38 LONDON Financial Times 30 FTSE 100 Turnover (million) 2.042.6 2,617.2 522.5 2.033.3 2.608.8 590.4 9.3 8.4
        87 words
      • Article
        FRANKFURT
        270 13 GERMAN SHARES on Thursday showed relatively little initial response to news that the Bundesbank was raising key German interest rates. Contrary to what might be expected, dealers mostly complained that the increase was too low. The market had been geared up for a rise of one point in the
        270 words
      • Article
        AMSTERDAM
        338 13 DUTCH SHARES closed mixed on Thursday with a firmer bias in slow trading. Dealers said the market ignored a widely expected official rate hike by the Bundesbank, which was followed by news of a rise in key Dutch interest rates. "The market did not react (to the hike). It
        338 words
      • Article
        ZURICH
        293 13 SWISS SHARES closed steady but off earlier highs on Thursday after the Swiss National Bank (SNB) said it would raise its discount rate to 7 per cent from 6 per cent, effective yesterday. Trading was moderate, dealers said. The SNB said it raised its rate "in agreement with other
        293 words
      • Article
        STOCKHOLM
        102 13 PRICES on the Stockholm bourse closed up but off their day highs in moderate volume on Thursday, inspired by some optimism over an economic recovery soon. The bourse general index closed 0.23 per cent higher at 1,098.46 in turnover of 339 million crowns. The blue chip index rose 0.65
        102 words
      • Article
        TORONTO
        329 13 TORONTO STOCKS dipped after trading nearly unchanged throughout the day on Thursday, to close slightly lower in light trade. Analysts said the move was light profit taking following a few days of strong activity across the board. "We saw a bit of profit taking, although not a lot as
        329 words
      • Article
        JOHANNESBURG
        428 13 LEADING industrials moved sharply off their highs on Thursday afternoon following a four-day record breaking run, due largely to a strong rally in the financial rand, dealers said. No major selling pressure was reported, they said. The steep rise in the foreign investment currency to 3.19 per dollar from
        428 words
      • Article
        Untitled
        251 13 Brussels Aug 14 Francs i FORWARD MARKET Acec 2450 5 Arbed 4450 10 Astur 1000 2 Brascan 562 6 Canpac 592 12 Cock 178 +1 De Beers 1012 +20 Ebes 8400 Gb-Inno-Bm 1278 10 Gevaert 6500 20 Gr Bru Lamb 3450 15 Hobok Petro 1 1525 unch Ryl Dutch 2900
        251 words
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      Page 13 Advertisements Column 1
      68 13 The Paris, Milan and Brussels markets were closed on Thursday You may have been unable to get your Business Times, Straits Times, Sunday Times, LianHe Zaoßao and other daily newspapers from your usual news- stand because of the higher demand lately. To ensure a daily copy,, call Customer Services Section
      68 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Selling by European players pushes US dollar lower in Asia
      1201 14 REPORTS ASIA Tokyo: The US dollar was slightly lower in late Asian trade yesterday on selling by European players, dealers said. The dollar see-sawed, with European dealers first selling and then buying it back, Singapore dealers said. Hongkong dealers said
      1,201 words
    • Article
      INTERBANK FOREX RATES
      390 14 Cross rates Aug 16 USS SS MS Dm Yen SFr AS NZS IJSS I 1.7240 2.7760 1.7490 137.10 0.5977 1.5355 1.2853 1.7437 SS 0.5800 1.6102 1.0145 0.7952 0.3467 0.8907 0.7456 1.0114 MS 0.3602 62.10 0.6300 0.4939 0.2153 0.5531 0.4630 0.6281 Dm 6.5718 0.9857 1.5872 78.39 0.3418 0.8779
      390 words
    • Article
      MONEY MARKET
      543 14 Interbank rates i St Bid Offer Overnight 4 7/8 5 1-month 5 1/8 5 1/4 2-month 5 1/8 5 1/4 3-month 5 3/16 5 5/16 Overnight mode: 5 LSS Bid Offer 7 days 5 5/8 5 3/4 1 month 5 5/8 5 3/4 2 months 5 11/16 5
      543 words
    • Article
      Lock icon German rate move leaves room for further increases
      509 14 Reuter FRANKFURT A smaller-than-expected hike in Germany's Lombard emergency funding rate was seen by economists both as an exercise in moderation and a way to retain the flexibility to raise rates further soon. "The Bundesbank has been thinking about more flexibility in
      Reuter  -  509 words
    • Article
      Lock icon Dutch, Swiss and Belgian interest rates up
      255 14 AFP AMSTERDAM The Netherlands, Switzerland and Belgium raised interest rates on Thursday afternoon, in the wake of a decision by Germany's Bundesbank to raise its discount rate by a full percentage point, to 7.5 per cent, and its Lombard rate by a quarter-point
      AFP  -  255 words
    • Article
      FINANCIAL FUTURES
      1101 14 SIMEX EURODOLLAR Open High Low Sett Est Vol Op/lnt Vol Sep 91 94.28 94.31 94.28 94.29 2305 ***** 7976 Dec 91 93.99 93.99 93.97 93.99 4110 ***** ***** Mar 92 94.01 94.03 94.01 94.03 2300 ***** ***** Jun 92 93.66 93.68 93.65 93.67 1300 3128 3357 Sep 92
      1,101 words
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  • COMMODITIES
    • Article
      Lock icon French wine output hit by frost
      265 15 Reuter PARIS A late frost in April will mean a drastic 30 per cent cut in France's wine output this year. Wine production is expected to be only 45 million hectolitres compared with 65.5 million in 1990 and the average 60 million, according to
      Reuter  -  265 words
    • Article
      Lock icon KL to adopt new sales strategy for palm oil in South America
      505 15 Bernama KUALA LUMPUR Malaysia will adopt a different strategy for the marketing of palm oil when approaching the South American markets, said the director-general of the Palm Oil Research Institute of Malaysia (Porim), Datuk Abdul Halim Hassan. Its
      Bernama  -  505 words
    • Article
      Late buying sends gold higher in Hongkong
      801 15 REPORTS GOLD closed firmer in Hongkong yesterday, just below its intra-day high of U*****.40/90 an ounce on late overseas buying and local short-covering which offset early light Japanese selling mainly due to softer platinum prices. But dealers said trading was quiet and in
      801 words
  • Article
    PRICES
    1334 15 Rubber A Ug i6 MS (trt In Mm) S cents/kg Noon Close IntlRSS Prompt I39.2V140.25N 139.25/140.25N Int I RSS Sep 91 *****/140.50 *****/140.50 Int 1 RSS Oct 142.25/142.75 142.2V142.75 Int 2 RSS OP 139.25/141.25N 139.00/141 .OON Int 3 RSS OP 138.25/140.25N 138.00/140.00N Int 4 RSS OP 133.75/135.75N 133.50/135.50N Int
    1,334 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      25 15 Difficulty in getting a copy of Singapore Business, Her World, Go, Home Decor. Young Parents? Call our Hotlines 740-1839, 740-1840 for locations of nearest newsstands.
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      Page 15 Advertisements Column 2
      696 15 BUSINESS TIMES TELEPHONE: 730-5771/5772/5773 FAX: 734-4912 UQUOR LICENCE NOTICE NOTICE IS HBIEBYGIVBIIhaUKkwSingUa Mary Koh Sing Lao of Bk 39A Commonwealth Avenue 104-316, Singapore 0314, have applied for a Beer Home (2nd Gas) licence in respect of premises at M/s Candy Food Court at 304 Orchard Road 106-14 Lucky Plaza, Singapore
      696 words
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      Page 15 Advertisements Column 3
      290 15 funa marketinqA (S) PTC LTD (In Members' Voluntary Liquidation) NOTICE IS HEREBY GIVEN pursuant to Section 308(2) of the Companies Act, Cap. 50 that the Final Meeting of Members of the abovenamed Company will be held at the Offices of Robert Tan Co. I Colombo Court #04-06. Singapore 0617 on
      290 words
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  • Article
    S'pore a natural place for making legal claims
    565 16  -  South China Sea barge disaster From Catherine Ong in HONGKONG SINGAPORE is a "natural" jurisdiction for the millions of dollars of legal claims expected to be made for one of the worst marine disasters in the South China Sea, several Hongkong lawyers
    565 words
  • Article
    Republic, HK not planning inquiry
    313 16  -  By Magdalene Phang, Catherine Ong NEITHER the Singapore nor Hongkong governments will be conducting an official inquiry into the barge that capsized off Hongkong's coast on Thursday with a loss of at least 13 lives. Mr Teh Kong Leong, director of Singapore's Marine Department, told
    313 words
  • Article
    Lock icon Manila import levy cut won't help much: Concepcion
    278 16 AFP MANILA The Philippine government's decision to slash a 9 per cent import levy to 5 per cent will not bring in much-anticipated foreign investments or imports, the former Trade Secretary said here yesterday. Ex-Secretary Jose Concepcion said the reduction "would not
    AFP  -  278 words
  • Article, Illustration
    Low rate rise doesn't mean more increases later, says Bundesbank
    230 16 FRANKFURT Bundesbank deputy president Hans Tietmeyer said the lower than expected 0.25 percentage point rise in the Lombard rate to 9.25 per cent was not necessarily a precursor of further rate increases. But he did not rule out the possibility
    230 words
  • Article
    Open U may admit working adults by next July
    306 16 WORKING adults may be able to enrol in an open university by July next year, if they fulfil the minimum admission criteria. The Singapore Open University (SOU), as it has been dubbed, will admit those who have two 'A' levels or
    306 words
  • Article
    Lock icon Ex-Peru president may soon have to answer fraud and other charges
    405 16 The BCCI collapse Agencies THE PERUVIAN Chamber of Deputies took the first constitutional step on Thursday to have former president Alan Garcia stripped of his constitutional immunity so that he may answer charges of "alleged embezzlement, extortion, fraud and
    Agencies  -  405 words
  • Article
    State-owned firm and 2 others get Sentosa sites
    205 16 STATE-OWNED Construction Technology Pte Ltd was one of the three successful bidders of tenders called by Sentosa Development Corporation (SDC) for its fifth sale of sites. The other two successful bidders were Wah Khiaw Developments, and Madam Tang Siew Chun and Mr
    205 words
  • Article
    Creditors of P T Bentoel decide to wait and see
    257 16 A COMMITTEE, representing creditor banks of P T Bentoel, said yesterday that "it is still too early to comment on the quality of the job being done" by the Business Advisory Group (BAG), financier advisers to the ailing Indonesian cigarette
    257 words
  • Article, Illustration
    Shortages of steel and cement artificial: KL
    497 16  -  Exclusive interview with Rafidah Aziz From Lilian Ang in KUALA LUMPUR MALAYSIA'S International Trade and Industry Minister Datuk Sen Rafidah Aziz believes the country's muchpublicised steel and cement shortages to be artificial, created mainly by distributors out to make a quick buck. In
    497 words
  • Article
    Lock icon Four more Japanese brokers reveal payouts
    221 16 Reuter TOKYO FOUR more Japanese securities firms have admitted paying US$6.4 million to 26 local companies and 66 individuals in compensation for stock exchange losses between 1988 and 1990. The Securities Dealers Association yesterday said the firms were Naigai Securities Co. Izumi Securities Co,
    Reuter  -  221 words
  • Article
    HK fitness chain plans second centre in Orchard Road
    350 16  -  By Genevieve Cua HONGKONG-based fitness chain Phillip Wain International is negotiating for a second site in the Orchard Road vicinity, barely a month after opening its $5 million flagship centre in United Square. The chain's managing director, Edwin Phillips, told BT
    350 words
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  • Executive Lifestyle
    • Article, Illustration
      Lock icon Four who made the leap
      1170 17  -  It takes a lot of nerve or temporary insanity to chuck your safe but boring job and strike out on your own. Some make it, some don't. Susan Tsang reports Susan Tsang THERE comes a time in one's working life when one dreams of walking
      Photo by Chris Loh  -  1,170 words
    • STRAWS IN THE WIND
      • Article
        Feminine edge
        47 17 THERE'S one advantage to there being so few women among Singapore's government, business and community leaders. During a break at last Saturday's National Day Rally, there was an incredibly long queue outside the men's 100. But over at the ladies? There were cubicles to spare.
        47 words
      • Article
        Honestly speaking
        66 17 WANT to stump CD shop staff? Try asking for nonexistent albums and monitor their reactions. One die-hard went into various shops asking for the latest album by Blue Haemorrhage (his own invention). He got replies ranging from "Uh, that one very hot, all sold out" to "oh, that's
        66 words
      • Article
        Property menu
        105 17 HUNGRY for some good factory space? Try this classified ad for starters. Nin Kai Properties recently put out this ad that started out with this appetiser "Our 3-Special Industrial Main Course For You". They offered "React Lamb: Benioi Vicinity engineering workshop cum office Then there was "Kobe Steak:
        105 words
    • OPINIONS
      • Article, Illustration
        The cure that hurts
        785 18  -  New Zealanders have to change their attitude before they can appreciate the tough economic policies of the government, says Schutz Lee Schutz Lee The writer is a BT journalist TO AN OUTSIDER, New Zealand gives the impression that it is isolated. This is not to say
        785 words
      • Article
        Lock icon Now is the time to clean up the Tokyo bourse
        498 18  -  Japan must have a thorough inquiry into the shady parts of its stock market, says Hiroshi Okumura Hiroshi Okumura The writer is a professor of economics at Ryukoku University and a noted authority on Japanese industry, corporate groups and corporate
        Asahi  -  498 words
      • Article
        Tremendous scope for growth in Nets transactions
        336 18  -  LETTER TO THE EDITOR Patrick Yi General manager Network for Electronic Transfers (S) Pte Ltd I WOULD like to comment on Mr Tay Lian Huat's letter headlined "Curb credit cards usage with Nets" (BT, July 13/14). Nets is increasingly being accepted by consumers
        336 words
    • SPORTS
      • Article, Illustration
        Lock icon US, Africa, Europe form heady mix
        810 19 World Athletics Championships in Tokyo Reuter LONDON Extrovert American sprinters, uninhibited African middle-distance runners and highly-skilled European field exponents combine in a heady mix of styles and cultures at the World Athletics Championships next week. The event will reflect how dramatically the world has
        Reuter  -  810 words
      • Article, Illustration
        Lock icon Speedy Rosset routs Lendl
        473 19 NYT NEW HAVEN, Connecticut One day after saying he did not think wide body racquets and power tennis detracted from the sport, Ivan Lendl was run over on Thursday by a serve that travelled at 204 kmh. The owner of the serve, 1.9 m tall Marc
        NYT  -  473 words
      • SIDE LINES
        • Article
          6,000 hope to raise $200,000 in charity run
          135 19 ABOUT 6,000 people are expeted to take part in the "Nike Green for Life Run" tomorrow. The 10 km run will see participants running along roads amid lush greenery. All participants have paid $5 as registration fee. These, along with funds raised
          135 words
        • Article
          Million Dollar Mile
          111 19 JAKARTA The world's leading runners led by Briton Steve Cram and Moroccan Said Aouita will race in the "Million Dollar Mile" here in October, Indonesia's official Antara news agency yesterday. The race was named after the distance and prize money offered to anyone who breaks Cram's current
          111 words
        • Article
          James' bid for Ryder Cup place
          126 19 THE BELFRY, England Defending champion Mark James launched a last-gasp bid to retain his Ryder Cup place in the English Open here on Thursday with what he described as "maybe the best nine holes of my life". After starting at the 10th and going
          126 words
        • Article
          End of three-year drought?
          90 19 STOCKHOLM Swedish golfer Liselotte Neumann set about ending her three-year victory drought at Haninge here on Thursday by bagging a first round lead in the IBM Open with a superb 69. Neumann, without a win since the 1988 US Open Championship, hit no fewer than six
          90 words
        • Article
          Seles and Sabatini advance
          58 19 MANHATTAN BEACH, California Top seeds Monica Seles and Gabriela Sabatini advanced to the quarter-finals of the Los Angeles women's tennis tournament here on Thursday with straight-sets victories. Seles, who regained her world No. 1 ranking last Monday, breezed past Amanda Coetzer 6-4, 6-1, while Sabatini was
          58 words
      • Article, Illustration
        The Shelby Futch Golf Instruction Series
        228 19 The Bunker Shot It is sometimes said that splashing the ball is the easiest shot in the game. This is not so. Ever wondered why you take up to three strokes to get the ball up from the cursed bunker? Well, you first have
        228 words
      • Article
        Lock icon Santoro overcomes slow start to upset Agassi
        314 19 AFP INDIANAPOLIS, Indiana Frabricc Santoro of Francc overcame a slow start here on Thursday to upset thirdseeded Andre Agassi and advance to the quarter-finals of the United States Men's Hardcourts Tennis Championship. Santoro, ranked 40th in the world, took advantage ot Agassi's increasing
        AFP  -  314 words
    • EPICURE
      • Article
        Needles and Noodles
        504 20  -  Quek Swee Peng finds no shortage of ee fu noodles, kway teow, udon, mee sua and mee hoon at Tang Court Quek Swee Peng TANG COURT obviously believes that variety is the spice of life. In addition to its understated ee-fu noodlqrit has since tagged on a
        504 words
    • LIFESTYLE
      • Article, Illustration
        Stretching the message a little too far?
        627 21  -  SAY In today's AIDS-age, a rubber has become a trendy party favour. But Jaime Ee says that there should be a time and place for everything Jaime Ee ONCE upon a time, you could go to a party or some official function, or
        627 words
      • Article, Illustration
        It's always useful to have another trick up your sleeve
        430 21  -  BRIDGE By Sybil Holloway ONE OF the basic arts of card play is to find a means of securing the lead in a particular hand in order to cash a winning trick, or to take a second successful finesse. In
        430 words
      • Article, Illustration
        Longevity in full splendour
        830 21  -  N K Yong waxes lyrical on some old wines of distinction N K Yong THE ROMANCE and mystique of wine rest mainly on their capacity for longevity in full splendour. There are those who maintain that the greatness of a wine does not depend on its
        830 words
    • PURSUITS 1
      • Article, Illustration
        Oui, Paris is lovely in the summer
        1463 22  -  When in France, go to Paris. Claire Leow followed her instincts and went beyond the croissants and coffee district to discover the real Paree Claire Leow TO THE eastern mystics, and many world religions, to walk is to know The Way. The path
        1,463 words
      • Article, Illustration
        Masterpieces of bits and pieces
        562 22  -  Kooi Cho Teng pieces together the story behind the Puzzle Shop Kooi Cho Teng SOME PEOPLE like their Renoirs in one piece. And Mona Lisa's smile intact. Some, on the other hand, relish them in 500 little pieces or more, so they can put them
        562 words
      • Article, Illustration
        Still going strong
        498 22  -  CD Review by RINGO LIEW THE MANHATTAN TRANSFER: The Offbeat Of Avenues For almost two decades, the Manhattan Transfer has stood for impeccable taste, imagination and consistent excellence in ensemble singing. Yet, for all this, it has never had the kind of commercial success, give or take
        498 words
      • Article, Illustration
        'I mop the floor myself'
        811 23  -  Cont'd from EL page 1: Four who made the leap Not all entrepreneurs are the young and restless types. Nirmal Ghosh speaks to Rosaline Soon, who quit as vice-president of public relations at a bank to become a restaurateur at 50 Nirmal Ghosh NOTHING in
        811 words
      • Article, Illustration
        'We didn't know anything about food'
        510 23 WHEN ex-banker Karen Yung and partner/lawyer Fraser White started Mr Cucumber Deli, the only thing they knew about food was how to put it into their mouths. But the call of the entrepreneur rang strong in her 28-year-old heart and caused both of them
        510 words
      • Article, Illustration
        Modern Robinson Crusoe
        663 23  -  While most professionals go into business for themselves, Jesse Boone meets one who prefers to create his own paradise island in the sun Jesse Boone SO MANY of us have a secret dream career becoming a movie star, a star football player, a banking tycoon. And so
        663 words
    • PERSONAL FINANCE & INVESTMENT 1
      • DON'T QUOTE ME!
        • Article
          Hoping those falling letters are not ominous
          120 24  -  Compiled by Lee Han Shih IT IS just as well members of the Jumabhoy family are not superstitious. Last Monday, the Jumabhoys were busily extolling the virtues of Scotts Holdings, which is going for a listing, at a presentation to reporters and analysts
          120 words
        • Article
          What's in a name?
          32 24 BANKERS with Security Pacific in California are now calling their bank "Insecurity Pacific" because the latter's merger with Bank of America could mean a lot of unemployed bankers.
          32 words
        • Article
          Of fences and good neighbours
          71 24 IT TOOK the owner of a bungalow in the plush Bukit Timah district nine months to put up a fence around his property. He wanted to build a brick wall, but after nine frustrating months, he erected a chain-link fence. He'd been told by the
          71 words
        • Article
          Drawing the line with red tape
          47 24 ANOTHER house owner, this time in the Fernhill/Ladyhill district, has decided not to move his front gate by five feet after his contractor told him at least seven permits, including one from the Drainage Department, would be needed for the move.
          47 words
        • Article
          Jump the gun — please
          278 24 Jump the gun please JADED journalists that we are, we thought we had heard everything, until we received a note from Wearne Brothers yesterday which suggested that we depend on the Wall Street Journal for news about its activities in the US. Wearnes had written to the SES in response
          278 words
      • Article, Illustration
        Lock icon Stock market should look better in September
        869 24  -  Najeeb Jarhom argues that the Singapore market will bounce back CHART Najeeb Jarhom Najeeb Jarhom is research manager of Fraser Roach A Co. The almost daily drops on the Straits Times Industrial Index in the past three weeks without any pressing negative factor
        Source: Investamatic  -  869 words
      • Article, Illustration
        Lock icon S$ and Dm remain best investment bets
        489 24  -  Chow Eng Han THE DAYS of highyielding currencies are over. ACU investors once enjoyed fat returns of 20-odd per cent on their Australian and New Zealand dollar deposits but the same high interest rates were held responsible for depressing these economies and the
        Source: TeleTrac  -  489 words
      • Article
        Buying protection: insurance is your hedge against misfortune
        546 24  -  A policy shows how you feel about life, says Diana Oon Diana Oon Talking and thinking about death, especially your own, does not go down well with most people. What a lot of people say when confronted with a life insurance salesman,
        546 words
      • Article
        Take out a policy for all the times of your life
        506 24 SO WHAT do you need and when? Generally, most people would need at least $100,000 cover. A better rule of thumb is to get insurance cover equivalent to 10 times your annual income. An important note. Needs vary at
        506 words
      • Article, Illustration
        Lock icon A hotbed of opportunity
        519 25  -  Samba, cha-cha, tango. Evita Peron. Latin America has always been known more for its exotic women and music than for its investment potential. However, it is now breaking free of its economic chrysalis, says S N Vasuki S N Vasuki LATIN America conjures up familiar images
        Source: Datastream  -  519 words
      • Article, Illustration
        Lock icon Argentina stands out among Latin bourse booms
        528 25  -  Peter Bate Peter Bate on the Buenos Aires bourse Reuter Buenos aires' bourse has sprung to life, outpacing other Latin American stock markets as its index jumped 31.1 per cent to 88,277,977.71 and trading volume rose to record levels in the fortnight to
        Reuter  -  528 words
      • Article
        Warrants: premiums and gearing
        743 25 PrtoM as at 16.08.911 tx+y Amount Optio«ir (WSCOMt) using Cotupmy ilSMd (mfl Wrts Slure Loan Co«iv Eur Lnstk Cash Cask. Lom GMriMg. Data Mtks nil its) stock ratio *1 CO ■om tiln 1 Loft Burwil! 1152 0240 0 680 100 100 82 2.83 30/06/94 P| C&C
        743 words
      • Article
        Some tips on investing in Latin America
        274 25 DURING the eighties the investing world studiously avoided Latin America. Now, buoyed by far-reach-^ n ing economic reforms, investors are returning with vengeance. However, Asians" still constitute a minority among foreign investors dab--bling in Latin stocks. Analysts in Singapore give some tips on
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    • JOBS
      • Article, Illustration
        The road not taken
        1239 26  -  After 20 years in the insurance business with the last few as head of the local office of a North American company, Russ Soh is calling it quits. The reason is simple. He wants to take time out for himself. Salil Tripathi meets a man who
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      • Article, Illustration
        EXECUTIVE MOVES
        489 26 MR Leong Tim Fook has been appointed as general manager and Mr Alick Ng Cheng Chuah as shipping manager of Goodpack System Pte Ltd, an associate company of Hong Leong Corporation Ltd. Mr Leong was previously the chief executive/secretary of the Rubber Association of Singapore. Mr Ng was
        489 words
      • Article
        Poet at heart
        204 26 TEN YEARS AGO The Straits Times used to run a poetry corner edited by Kirpal Singh. Dismayed by the number of free verse attempts masquerading as poetry, Russ Soh penned a few lines which became a mock-tribute to masters of rhyme like Wordsworth, Keats and Shelley, at
        204 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1135 27 CKy Flgkt ETA F%kt ETD CJty Flgkt ETA Flgkt ETB Afea Dkatt GA890 0050 MH644 1650 MH631 1610 MM* QfSl 1820 SQ|27 2200 £«3 "S MH671 ISOO SQI 14 1745 RJ183 0030 SQI 13 1805 SQI 16 1845 AmtartMl SQ19 0755 SQ24 0100 MH613 1850 MH614
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    • THE TRAVEL PAGE
      • Article, Illustration
        Trekking towards salvation
        609 27  -  POSTCARD FROM WALES By Nicholas Woodsworth IN THE Middle Ages, before cars and tour coaches filled cathedral car-parks in Lourdes, Canterbury and Knock pilgrims were a hardy lot. They had to be. A pilgrim's progress in those days was measured one weary, foot-slogging mile after another. Such
        609 words
      • Article
        MONEY CHANGER RATES
        152 27 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.334 1.3522 Canadian dollar 1.49 1.32 NZ dollar 0.9773 0.9971 Sterling pound 2.8733 2.9122 US dollar 1.7215 1.72S0 Load dollars to 100 uits of foreign uniKy Austrian schilling 13.87 14.15
        152 words
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        WORLD TRADE EXHIBITIONS
        65 27 Duration Title Venue Organiser Td Duration Title Venue Organiser Tel Aug 18-20 International Germany Mode Woche- *****1990 Aug 21 Building Hilton Inter- The Institute *****21 Fashion Fair Munchen GmbH 22 Profitable national Kualaof International Brands Lumpur Research Aug 20-31 Izmir Turkey Izmir Fair *****150 Aug 24-28 International
        65 words
    • TIME OFF
      • Article
        THEATRE
        82 28 SSO Concert Featuring Israeli guest conductor Shalom Ronly-Rildis. Programme includes works by Mozart and Saint-Saens. Victoria Concert Hall. Today at 8.15pm. Asian Youth Orchestra The Asian Youth Orchestra comprises some one hundred musicians, aged 13 to 24, chosen from the best music students in nine Asian countries after stringent
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      • Article, Illustration
        EXHIBITIONS
        300 28  -  Compiled by K Jayanti Russian Fine Art The exhibition comprises 200 exhibits, a highlight of which will be the specially loaned museum pieces including laquerware, enamelware and fine porcelain. Ten original oil paintings by contemporary Soviet artists will also be shown. Art Base Gallery, 78 Shenton Way #01-02 (Next
        300 words
    • Article, Illustration
      CINEMA
      687 28 An Innecent Mm. Tom Selleck is unfairly accused of having too thick a moustache, among other things. For that, they sentence him a life in Purgatory, without a television set. Midnight tonight at Cathay 1. A tame! Tie me up or tie me down. Doesn't really matter, I'm not
      687 words
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      14 17 'I mop the floor myself, 'We didn't know anything about food', EL page 7
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      Page 17 Advertisements Column 2
      142 17 I DDBQ 24-hour Loan information Service e Approval r I 33 4 35 8 8 .\'33 4 3 6 8 8 of if -^^W'? t f>^*'l sisißr^ '^VvIc^G^BEESMH^^HnHrSsSK <*£ K L .iMH JtP Available Exclusively SINGAPORE: Burberry# Main Shop: 390 Orchard Road. #81-01'02 Palais Renaissance Shopping Arcade. Singapore 0923 Tel
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      69 18 THE BEAT IS HERE! MHBMm/ t %'i v "For 12 years I have pursued a mission to musically express the heart and spirit of Asia, its mysticism, exoticism and depth within a contemporary framework My greatest inspiration comes from the people of this great continent, especially those who have painstakingly
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      26 18 BT welcomes letters from you. Address them to: The Editor, Business Times, Tunes House, 390 Kim Seng Road, Spore 0923. Letters should include your contact numbers.
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      25 18 DOONESBURY BY GARRY trudeau BOOPS/e IPGNTKNOOJ 1 M^AN l MOM, VOU MPNT HBY, C!MON, BABE, HMTO K&P PONTiOCKim KNOW XXJ& HURT, BUT POCRA6AIN... I&m/MKerTRKSHT ITO
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      177 20 WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE u A*, H F KSaHHHBSiS^f^HHHIHHHB9 GINGERBREAD AT CONNECTIONS NEED WE SAY MORE? BAR OPEN FROM 12.00 NOON TO 5.00 PM. HAPPY HOUR fit DJ MUSIC: 5.00 PM TO 8.30 PM. BAND PERFORMS FROM 9.00
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      Page 20 Advertisements Column 2
      341 20 noime&jf SUNDAY TEMPTATIONS Every Sunday, Nutmeg's brings to you exquisite culinary surprises, fine wines and champagnes and the relaxing chords of our jazz musicians. Seafood delicacies, Sunday favourites, local specialities and even a touch of American, await the family for a peaceful Sunday. For $34.50++ per person and $17.25++ per
      341 words
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      Page 20 Advertisements Column 3
      296 20 -VW* Why worry about breakfast or lunch on I Enjoy a lazy Sunday morning? Come down TKp Hruxt for brunch with your whole family and J r feast on a delectable spread of hot Cantonese Thai dishes, soups, appetizers and 1 Buffet Brunch jmrtdjF desserts, all prepared to I In
      296 words
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      Page 20 Advertisements Column 4
      231 20 NATIONAL DAY CELEBRATIONS mm Chotlefboa tr-is talk o» tt>« town |oini in me National Day c««*aiioin with o host of disftes featuring me varied culinary flavour* of Singapore From August 9-17 a dally set lunch and dinner at llt OO per person ~y includes an offering of local disr»es SUC
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  • Page 20 Miscellaneous
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      219 21 AND ENTERTAIN Tea cum Bridal Workshop Prepare for your wedding during this beautiful presentation every Sunday in August. From 2 to 5 pm: $18.50++ per person. At the Connaught Room, level 2. August 4 Irene's Creation August 11 Bridal Bazaar August 18 Yumi Katsura August 25 Bridal Bazaar Fashionshow at
      219 words
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      Page 21 Advertisements Column 2
      170 21 mm I CHOPIN f\ f\ fi fl fl IWl** M M .mOr] W W w C S atom C Phno CoDoerux Nob. 1A 2 j twvto Wiwrti I L——l B_iSol23 NAXOS Compact Discs... Superb performances and sound at a very modest price! "Istvd* S likely is particularly impressive in the
      170 words
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      481 24 a join Aus pSpWIN! BT Investment Race Contest #5 J (Held in conjunction wich DBS Charity Investment Race) Now you can put your skills to work. Complete the Entry Form below, fill in your Investment Portfolio, and together with your $100,000 worth of Money Coupons (which you would have already
      481 words
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      920 25 -%r» A J9 F r |T VT/ T> W A4T L m k&tJM Bf L J I V fl|L fr i>jjjE I Lucky Draws |j W^len OU Ibß IWH It'■ back. Hong Lton| Finance's Singapore Finance'* Free Gifts and Lucky Draws programme with a wider range of gifts and even
      920 words
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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
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      39 27 Bud,youHbealot wiser when you learn about Finnair's New York route. A superb twice-weekly service from Singapore direct to Helsinki and a daily connection non-stop to the Big Apple. Call *****77 for details. We know Europe from start to Finnish.
      39 words
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      Page 27 Advertisements Column 2
      27 27 For Home or Office deliveries of: Business Times, Straits Times, Sunday Times, LianHe Zaoßao, Berita Harian, Berita Minggu, Shin Min, LianHe Wanßao call our Hotlines 740-1839, 740-1840.
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      Page 27 Advertisements Column 3
      240 27 HER WORLD has specially r~ i?™.?'"""* chartered a high speed 2235.1-I*. air-conditioned catamaran to fa:, bring our readers for an enchanting holiday on stunning Tioman Island. t Enjoy a wonderful super- over-exposure to the savings, hassle-free three sun. Learn from the day stay at Tioman the experts at the Clarins
      240 words
  • Page 27 Miscellaneous
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      Page 27 Miscellaneous Column 1
      174 27 6 Take away from the cad in 9 Honour for man on board 11 Was lachrymose without a 25 Surrounded by various DOWN method of rapid writing (9) YESTERDAY'S SOLUTION 2 Girl who does not know 14 What a strange figure one whether she is coming or is (3,6) |9IHjAIMIRIOICIKM\yE^HE^RI
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      Page 27 Miscellaneous Column 2
      169 27 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 17/11 Rain Bangkok 32/25 Showers Beijing 33/22 Sunny Brunei 31/24 Cloudy Hongkong 31/25 Sunny Jakarta 32/23 Fair Kuala Lumpur 33/24 Showers Manila 29/24 Rain Melbourne 16/04 Sunny Perth 21/07 Sunny Seoul 34/24 Fair Sydney 20/05 Sunny Taipei 34/27 Fair Tokyo 29/22 Showers Wellington 12/09
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      Page 27 Miscellaneous Column 3
      23 27 Iwrrw TWIS N£U) LINK UNEI ST] f THINKS TO\ RK IH J NrQgToNpn^ 0 |z^r fcfcrriSH WI|.Sf€CDRAIU T rTT 2^l NO ftLL J
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      1826 28 TODAY'S TV ■hmiiibhhmh TIM ho*O SH*CW simw IK «HT Hood. UlV' 10.50 RaNgtaas h«g«—M. W w* T 11.00 iy« tha Mnk Traa. Ptntar Pintar Bodoh, 3.05pm, Family of Wotm, 12pm, SBC 5 V pjwjk: !?n2 mm wH^vT*" SBCS Good old Rover your •*l'Pl > 'f n U m 4tM BSifKtM
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    • Miscellaneous
      Page 28 Miscellaneous Column 2
      546 28 MOVIES ON TV The Garden of the Fkizi-Cortift- teaches his Soviet explorer a is, Mon, 8.20pm, SBC 12 thing or two about life in SiSad but beautiful movie terra. about a Jewish aristocratic Wargames, Wed, 9.30pm, family that ignores their im- SBC 5 pending doom via the con- D oentralion
      546 words