The Business Times, 5 October 1991
1991-10-05
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The Business Times
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Title Section11 1991-10-05 1 Business Times MCI (P) 16/12/90 Weekend Edition, October 5-6 1991 75*11 words
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NEWS & MARKETS SUMMARY
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Article43 1991-10-05 1 THE New York stock market was mixed yesterday morning in an inconclusive response to the latest news on US employment. The Dow Jones average of 30 industrials rose 4.48 points to 2,989.27 at 1430 GMT in the first hour of trading.43 words
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Article32 1991-10-05 1 SHARE PRICES on the London Stock Exchange were lower yesterday morning. At 1108 GMT, the broad-based FTSE 100-share index was down 6.5 points at 2,619.1. Volume was 263.2 million shares.32 words
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49 1991-10-05 1 WASHINGTON The US unemployment rate fell to 6.7 per cent in September from 6.8 per cent in August, but a slim 24,000 new jobs created last month showed the lacklustre recovery was weighing on the job market, the Labour Department reported yesterday.49 words
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Article28 1991-10-05 1 BRUSSELS Belgian Prime Minister Wilfried Martens will offer to resign following a crisis in his centre-left government, Foreign Minister Mark Eyskens said yesterday.28 words
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Article25 1991-10-05 1 THERE is a need for more Artificial Intelligence (Al) specialists in Singapore, said Minister for Finance Dr Richard Hu Page 225 words
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Article31 1991-10-05 1 MALAYAN United Manufacturing Bhd (MUMB) has received permission to proceed with its partial general offer for a 38 per cent stake in Berjaya Group Bhd Page 3 i31 words
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Article38 1991-10-05 1 MALAYSIA'S 1991 inflation rate will exceed the official 4.5 per cent forecast, against 3.1 last year, if reccnt moves by Bank Negara to curb consumpkion prove ineffective in the coming months, say analysts Page 638 words
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Article, Illustration29 1991-10-05 1 Friday Change BT-MGA 672.00 -0.97 Kuala Lumpur ....SI3.11 -5.09 Tokyo 24,596.90 -114.54 Hongkong 4,067.69 -25.72 Sydney 1,587.7 +2.2 Thursday Change New York 2,984.79 -27.73 London 2,625.6 -18.629 words
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Article25 1991-10-05 1 Exchange rates ySS-- S$ 1.6885 100 Yen SS 1.2959 MS S$ 61.71 Money market rates Overnight 2 3/4% +2 2/5 3-month 4 3/8 -1/825 words
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Article38 1991-10-05 1 London Gold AM fix US$357.00 -USS0.30 Rubber S'porc Nov 139.25Vkg +0.75 M'sia Nov 222.50*/kg +0.5 KL Tin Turnover 63 tonnes +13 Spot........... MS 14.86 /kg unch Crude palm oil Turnover 1,359 lots -413 Nov MS825 /tonne +638 words
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Article, Illustration345 1991-10-05 1 Lilian Ang - Company seeking out other downstream investments By Lilian Ang SINGAPORE Oil major British Petroleum (BP) could be permanently shutting down its Pasir Panjang refinery, one of the oldest in Singapore, before the turn of the century. Sources say the government is likely toPhoto by Arthur Lee - 345 words
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471 1991-10-05 1 Michelle Rowe - From Michelle Rowe in BANGKOK STOCK EXCHANGE of Thailand officials and brokers have agreed to introduce measures to check a sagging Thai bourse, including reducing loan margin rates and encouraging brokers not to sell until trading conditions pick up. The measures were471 words
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343 1991-10-05 1 Reuter TOKYO Japan's current account surplus grew more than six-fold in August from a year earlier, mainly due to a reduced appetite for luxury goods from abroad, economists said yesterday. The unadjusted current account surplus the broadest measure of trade in goodsReuter - 343 words
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434 1991-10-05 1 Schutz Lee - By Schutz Lee SINGAPORE The Republic's non-oil domestic exports shrank by 2.1 per cent to $4 billion in August compared with the same month last year, due mainly to a sharp 17.4 per cent drop in shipments to the US. It was the434 words
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Page 1 Advertisements
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Advertisement113 1991-10-05 1 Nikon TtwWtortd'sFfeiMt Photographic System. COVER Rods, lines and lures. EL 1 Aircraft Schedule EL 11 Commodities 15 Company News 3,4 Cryptic Crossword EL 11 Executive Jotis EL 10 Futures 4 Options 14 Interbank Fore* Rates 14 LI-—— home new* l klse 11 Money Changer Rates EL 11 Money Market 14113 words
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Advertisement32 1991-10-05 1 PURSUITS Art and artifact in Paris. EL 6 OPINIONS Sarawak and the environmentalist bogey. EL 2 KL to impose 30pc plastics import tariff, Back Pg Seoul widens probe into conglomerates, Back Pg32 words
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Advertisement259 1991-10-05 1 Nikon TI»WtoM->nnMt tyrtMi PURSUITS Holistic zoos of the future. EL 7 FINANCE The SCS offer no quick bucks to be made. EL 8 Lee: Govt must balance policies for various groups, Back Pg The movement of a watch is dust, dirt and water. It provides Rolex Oysters have climbed its259 words
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Advertisement10 1991-10-05 1 JOBS Chew Gaik Hean: quality is her business. EL 1010 words
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HOME NEWS
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NEWS ROUNDUP
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54 1991-10-05 2 THE SINGAPORE EMBASSY in Washington DC would move to its permanent home by mid-1993, Minister for Foreign Affairs Wong Kan Seng said at the ground-breaking ceremony yesterday. The US$l4 million (about 5523.5 million) embassy will have four storeys and an area of54 words
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Article32 1991-10-05 2 THE NEW AMBASSADOR of Papua New Guinea, Angoea Joshua Tadabe, presented his credentials to President Wee Kim Wee yesterday. Mr Tadabe, 39, succeeds former ambassador Sebulan Kulu.32 words
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Article52 1991-10-05 2 PIDEMCO CENTRE has a new entrance, two new lifts and a new lift lobby-cum-reception area especially for the Immigration Department on the seventh and eighth floors. The facilities were built at a cost of $1.7 million and are in addition to $21 million spent to improve52 words
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Article45 1991-10-05 2 THE CENTRAL PROVIDENT FUND has come up with its own radio show. The CPF Radio Show will be in Mandarin and will run from tomorrow for 13 weeks. The 30-minute shows will be aired over NTUC Radio Heart FM 100.3.45 words
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303 1991-10-05 2 Claire Leow - By Claire Leow ARTIFICIAL intelligence (AI) has emerged gradually from the realm of science fiction over the last few years. In Singapore alone, there are about 20 AI projects in use today. Among these are systems to help the handicapped. For instance, appliances that303 words
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Article, Illustration356 1991-10-05 2 Selva Kumar - By Selva Kumar GERMAN car manufacturer Volkswagfcn AG has opened a regional office in Singapore in an attempt to expand its A§ia-Pacific market share. At a press conference yesterday, Volkswagen Asia Pacific Pte Ltd managing director Hans-Joachim Struck said Singapore was chosen "because of356 words
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235 1991-10-05 2 GROWTH in the Singapore economy is slowing down slightly but should still reach 7 per cent for 1991, with the robust external sector providing the major boost in the second half, says the United Overseas Bank Group. In its latest quarterly assessment235 words
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294 1991-10-05 2 THE People's Action Party leadership, still analysing the results of the elections, has not decided how it will repackage and sell government policies. But the party's Post General Election Debrief Committee, recently formed as part of the review to the overall political294 words
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175 1991-10-05 2 WITH Singapore's rapid advances in biotechnology, science teachers should keep pace and upgrade their knowledge and skills to better impart these to their pupils. Minister of State for Education Sidek bin Saniff said this yesterday at the opening of the first Biotech Fair175 words
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SHIPS IN PORT
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Article510 1991-10-05 2 Kisrt ¥oy Wo Berth AnM Departure in$ti Voy Wo Berth Amvil Departs* Marina Terminal 1 Don Antomo B 27 J12 alongside 05 10/1800 Qitam Baru B95 M05 alongside 05.10/2300 Epson Trader J2 alongside 0510/1500 Batam Sayang *****1 M03 04.10/2300 Karya Indah 10/B6 )1 atongsrfe 05 10/1800 Batamindo510 words
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Article1015 1991-10-05 2 RECEIVING OF EXPORT FCl CONTAINERS AND LCL CARGO Record Bookmi/Batonce Rsfts Ship Voy No Etb/Btr Period From To From ACX Oarey 19A 05/2100 1 04/1500 04/1659 04/1900 2 04/1700 05/0659 05/0900 ACX Ruby 24A 06/0700 1 04/1500 04/1659 04/1900 3 05/0700 05/1159 05/1400 Aka Bhum 1US 05/2300 11,015 words
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COMPANY NEWS 1
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Article, Illustration668 1991-10-05 3 Leslie Lopez - KL regulators order offer to be executed at M$ 1.60 apiece From Leslie Lopez in KUALA LUMPUR MALAYAN United Manufacturing Bhd (MUMB), a subsidiary of Malayan United Industries Bhd (MUI), has received approval from Malaysian regulators to proceed with its partial668 words
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173 1991-10-05 3 MBT KUALA LUMPUR Perbadanan Nasional Bhd (Pernas), which is moving into the hotel, property and manufacturing sectors,is willing to divest up to 40 per cent of its interests in majority-owned companies to non-bumiputra controlled groups. For bumiputra-controlled groups, Pernas is willing to offerMBT - 173 words
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171 1991-10-05 3 Bernama KUALA LUMPUR MUI Bank Bhd said yesterday that its solicitors served B& B Enterprise Sdn Bhd a letter of demand to settle a loan before, and not after, payment was made by the latter. Responding to "unfounded allegations" made against MUI management byBernama - 171 words
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333 1991-10-05 3 Magdalene Ng - By Magdalene Ng SINGAPORE The mystery behind Malayan Credit's active trade this week deepened with another block crossing hands yesterday morning. Brokers said 910,000 Malayan Credit shares were done in the deal. Of this, 897,000 were crossed at $1.68 apiece and the333 words
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653 1991-10-05 3 Leslie Lopez - MARKET TALK By Leslie Lopez KUALA LUMPUR For most companies, a substantial stake in a lucrative gaming unit would offer strong longterm growth prospects. But in the case of Malaysian textile operator MWE Holdings, problems loom over the horizon.653 words
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360 1991-10-05 3 Shoeb Kagda - By Shoeb Kagda A UNIT of Indonesia's Bakrie Group has secured a US$l73 million (about SS29I million) loan from a consortium of nine New York banks to buy a 10 per cent stake in mining company Freeport Indonesia Inc. In a360 words
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COMPANY BRIEFS
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38 1991-10-05 3 SINGAPORE DBS Land has incorporated a wholly-owned subsidiary in Malaysia, PMS Services Sdn Bhd (PMS). The subsidiary has authorised and paid-up capital of M 525,000 comprising 25,000 ordinary shares of MS 1.00 each.38 words
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Article67 1991-10-05 3 SINGAPORE Foreigners held 39.71 per cent of United Overseas Bank at the end of September, the bank said" yesterday. The bank also announced that foreign holdings of its warrants 1989/1994 were about 33.70 per cent. The bank discloses its foreign holdings every quarter. The percentage of67 words
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Article42 1991-10-05 3 SINGAPORE Mr Lim Ming Seong, has relinquished hfs post as executive chairman of Singapore Shipbuilding and Engineering, with effect from Oct 1. But he remains as chairman of the company, which is a subsidiary of the Singapore Technologies Group.42 words
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Article105 1991-10-05 3 SINGAPORE As a result of the exercise of options under the OCBC Executives' Share Option Scheme and or warrants '95 by warrant holders, the issued and paid-up capital of Oversea-Chinese Banking Corporation was $595,171,220 at Sep 30. In another announcement, OCBC said its securities arm had105 words
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Article64 1991-10-05 3 Corrections clarifications IN yesterday's BT report on the sale of OCBC shares and* the exercise of options, we mistakenly referred to Mr Wong Nang Jang, Mr Lai Teck Poh, Mr Chan Ah Sooi, Mr Winston Tan, Mrs Elaine Tan and Ms Maureen Chan as OCBC Bank directors. They are in64 words
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268 1991-10-05 3 SINGAPORE Nat Steel Electronics, part of the pub-licly-listed Nat Steel group, is taking a firm stride towards focusing more on product development with a range of computer products to be launched today. Mr SC Yeo, the company's managing director, told BT that the new268 words
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COMPANY BRIEFS
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87 1991-10-05 4 PITTSBURGH Kobe Steel Ltd of Japan and Aluminum Co of America have agreed to form two joint venture companies to expand the use of aluminum in transportation, especially cars and light trucks. The companies, one in Japan and one in the United States, will87 words
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Article55 1991-10-05 4 LOS ANGELES Mark Canton, a 42-year-old film executive who once worked as a clerk in a Hollywood mail room, was named president of Columbia Pictures on Thursday and said he would seek to accelerate the number of projects at the studio and make films that will55 words
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Article75 1991-10-05 4 r y m M SYDNEY Capital Group, a Californian investment management group, said on Thursday it had acquired a 9.1 per cent interest in News Corporation, Rupert Murdoch's media group, for funds managed for institutions. Capital said in a notice to the Australian Stock75 words
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Article118 1991-10-05 4 LONDON British hotelier and caterer Forte pic said on Thursday the Gulf War had cut into its profits for the first half of the year, with slack tourism and business travel leading to a 63 per cent drop in earnings. Forte calculated that the war118 words
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Article, Illustration318 1991-10-05 4 FT NEW YORK RJR Nabisco, the huge tobacco and snacks group which was subjected to the largest-ever leveraged buy-out two years ago, announced a refinancing plan on Thursday. The plan will cut debt levels significantly, boost the equity base, and removeFT - 318 words
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475 1991-10-05 4 Reuter WASHINGTON McDonnell Douglas Corp, America's largest defence contractor, is in such bad financial shape that it may be unable to fulfil its contracts with the government, auditors told members of Congress on Thursday. "We believe ongoing operations areReuter - 475 words
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353 1991-10-05 4 FT LONDON The UK Ministry of Defence is expected to block any move by a consortium of foreign defence companies to take a controlling stake in British Aerospace. The government, backed by its golden share which limits foreign shareholdings inFT - 353 words
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377 1991-10-05 4 Reuter PHNOM PENH Britain's Enterprise Oil pic and Compagnie Europeenne Des Petroles (CEP) of France on Thursday signed an agreement with Cambodian government to jointly prospect for oil in two offshore blocks. It was the first such accord for CambodiaReuter - 377 words
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326 1991-10-05 4 AFP SYDNEY Australian Airlines, which is soon to be privatised, emerged from one of the toughest trading years in its history as easily Australia's most profitable airline, its annual report showed on Thursday. The transfer of a surplus from its pilot superannuationAFP - 326 words
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320 1991-10-05 4 Asahi News Service TOKYO Toshiba Corp and C Itoh Co's move to invest US$l billion (S$ 1.69 billion) in a multimedia company to be created by Time Warner Inc is aimed at gaining access to tne US media giant's film and videoAsahi News Service - 320 words
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683 1991-10-05 4 NEC unveils its 3-kg battery-operated flat-panel screen model NYT TOKYO After years in the laboratory, the product that Japan's computer makers have spent billions to develop is finally out the First lightweight notebook computers with flat-panel colour screens of a quality on par withNYT - 683 words
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482 1991-10-05 4 UP WASHINGTON United Press International said on Wednesday it is holding discussions on the sale or recapitalisation of its radio networks and announced an editorial reorganisation of the 84-year-old wire service. Talks are being held with "several interested parties" on the saleUP - 482 words
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Page 3 Advertisements
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Advertisement192 1991-10-05 3 INVESTING SUPPLEMENT 1991 A special Business Times Survey October 29,1991 Bonus time is Just around the corner. And many of you will be looking at the numerous options of parking your hard-earned bonus. To assist you in making that important choice, Business Times has invited local and foreign experts to192 words
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Page 4 Advertisements
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Advertisement94 1991-10-05 4 ATTENTION 'O' LEVEL STUDENTS* MATRICULATE AT CANADIAN OVERSEAS COLLEGE OF SINGAPORE An Internationally recognized diploma signed by the Minister of Education (Province of Ontario. Canada) Course instruction by fully certified Canadian teachers Choice of business or science programs Canadian university applications processed by the College while studies are In progress94 words
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FINANCIAL NEWS
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Article, Illustration591 1991-10-05 5 NYT NEW YORK The pressures that have forced American Express Co's key credit card division into a loss, its first ever, stem from a tide of consumer defaults on personal credit lines and underscore the impact of the US recessionNYT; Source: The New York Times - 591 words
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372 1991-10-05 5 Reuter LONDON The Lloyd's of London insurance market, facing ever more vocal litigation and news of US regulatory investigations, vowed to fight fraud allegations every inch of the way. A group of 72 Canadian members is suing Lloyd's in Ontario, alleging thatReuter - 372 words
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Article, Illustration487 1991-10-05 5 DBS Bank weekly currency review US$/Dm: head and shoulders pattern still valid The US dollar collapsed from a high of 1.6920 marks last Friday to reach a low of 1.6575 on Monday. The rest of the week saw the US dollar remaining within a tight487 words
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Article, Illustration496 1991-10-05 5 The BCCI collapse FT LONDON The Abu Dhabi owners of Bank of Credit and Commerce International signalled on Thursday that they were giving up their attempt to salvage the bank with the announcement of about 1,100 redundancies in the UK. The cuts,FT - 496 words
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319 1991-10-05 5 FT PARIS Credit Lyonnais, the aggressive French statecontrolled bank, on Thursday announced a 25 per cent drop in first-half net profits, because of foreign exchange losses at Altus Finance, its treasury banking subsidiary. The group also announced a rise in client risk provisionsFT - 319 words
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SMALL CHANGE
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93 1991-10-05 5 MILAN The Milan bourse has officially recognised a failed Italian broker's claim for shares he deposited with Geneva s Banque Dumenil Leble Suisse, which recently claimed to be the victim of a fraud involving 85 billion lire (S$ 114.75 million) of Italian stocks. Broker93 words
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Article107 1991-10-05 5 LONDON UK stockbroker Hoare Govett has held talks with Deutsche Bank AG about a possible link-up but no deal has been completed, a source at Hoare Govett who did not want to be named said on Thursday. Hoare Govett chief executive David Plucinsky, however, said he107 words
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Article119 1991-10-05 5 SEOUL The ceiling on total certificate of deposit (CD) issuance by domestic and foreign banks in South Korea will rise to 10.19 trillion won from 8.63 trillion, effective today, a Bank of Korea official said. Outstanding CDs issued by all financial institutions in South Korea119 words
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Article110 1991-10-05 5 DUBLIN Flamboyant millionaire stockbroker Dermot Desmond on Thursday became the latest casualty in a string of financial scandal allegations that have tarnished Ireland's international business reputation. Mr Desmond, enmeshed in a property deals row surrounding the state-run telephone monopoly Telecom Eireann, resigned as govern-ment-appointed chairman of110 words
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Article117 1991-10-05 5 NAGOYA Top executives of Tokai Bank will take a pay cut of 20 to 30 per cent for six months as a token of responsibility for a loan fraud at the bank's Akihabara branch in Tokyo, the bank announced on Thursday. The major117 words
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434 1991-10-05 5 Reuter NEW YORK Nasdaq's plan for a new early morning stock trading session is expected to gain popularity as investors take advantage of the electronic trading system to trade on late news events that affect stock prices. Nasdaq, like the New York StockReuter - 434 words
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Page 5 Advertisements
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Advertisement151 1991-10-05 5 »1■ 1 1 FUTURES: a» fa In A Chaotic WoHd Economy 9-Jtl I \®Jpp Many slock market investors are finding*#»e futures market t/r AA more to *»eir liking because of; ■k* 1 Pace of li» futores game p In GOIDENYEAR, we go beyond *ie give you a bettor deal with151 words
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THE REGION
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NOTE BOOK
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112 1991-10-05 6 KUALA LUMPUR The total sales value of 56 industries surveyed for the first seven months of this year rose 21.3 per cent to M 543.089.8 million (about 5526,595 million) from M 535,530.5 million in the corresponding period last year, the statistics department said. On112 words
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Article88 1991-10-05 6 CANBERRA Australia's leading business group has postponed a visit to South Africa until clearer signs emerge that economic sanctions will be lifted. "We thought the light was about to turn green but it is still on amber," Malcolm Overland, director-general of the international section of88 words
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71 1991-10-05 6 MANILA Philippine year-on-year inflation rose to a sixyear high of 19.3 per cent in September, up from 19 per cent a month earlier and from 11 in September 1990. Month-on-month, inflation rose by 1.02 per cent from August to September. The year-on-year figure was the71 words
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Article99 1991-10-05 6 HANOI Massive corruption involving senior government officials has cost Vietnam more than US$2.l billion (about 553.5 billion) since June last year, according to an official newspaper report. "The amount of state assets leaked through corruption was 1,510 billion dong (US$l5l million), 1,253 taels (50kg) of gold,99 words
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Article73 1991-10-05 6 BANGKOK UN workers yesterday began interviewing the 355,000 Cambodians in Thailand to prepare for their eventual return home after more than a decade of war. Forty Cambodian-speaking Thais began interviewing people at the Site 2 camp along the eastern border with Cambodia, said Guy Ouellet, the73 words
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Article38 1991-10-05 6 JAKARTA Indonesian Mines and Energy Minister Ginanjar Kartasasmita said yesterday he would visit China later this month to sign cooperation agreements on coal and energy development. Indonesia and China resumed diplomatic ties in August 1990.38 words
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Article153 1991-10-05 6 AP MANILA The government yesterday filed charges against Imelda Marcos to recover US$356 million (about Sss9B million) in various Swiss bank deposits. Solicitor-General Francisco Chavez said the complaint was supported by numerous documents obtained from the Swiss banks showing that the widow of former President FerdinandAP - 153 words
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504 1991-10-05 6 Reuter KUALA LUMPUR Malaysia's 1991 inflation rate, one of the central bank's most pressing concerns, will exceed the official 4.5 per cent forecast, analysts say. Inflation, measured by the consumer price index (CPI), rose 4.4 per cent inReuter - 504 words
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Article, Illustration52 1991-10-05 6 JAKARTA Three young orang-utans clambering over Ulriche von Mengden, a curator of Jakarta Zoo, on Wednesday. The rare apes, indigenous to Indonesia, have been living in a Jakarta garage for nearly 11 months after being brought back from Taiwan. Mr Von Mengden wants them returned to52 words
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376 1991-10-05 6 Reuter BANGKOK Reforms in Laos and other centrally planned economies in Southeast Asia are lending a new dimension to regional economic ties, according to a senior official of the Asian Development Bank (ADB). The process has been facilitated by a rise in intraregionalReuter - 376 words
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411 1991-10-05 6 BANGKOK The Economic Screening Policy Committee has approved the final draft of a revised patent law to pave the way for patent registration of new drugs, a highly-contentious area that has pitched Thai interests against US companies for many years, The Nation411 words
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493 1991-10-05 6 Finance ministers from the group to meet on Monday Reuter LONDON Commonwealth finance ministers will next week try to give fresh impetus to privatisation schemes in the Third World and overcome obstacles that have blocked the progress of a strong privateReuter - 493 words
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Page 6 Advertisements
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Advertisement94 1991-10-05 6 It (»uld be a controversial deal between two stock I 1/ market stars, a thought-provoking report by L_MI university researchers on the latest trans-European FOCUS zooms in on the news and issues of the day and looks at them in more depth and breadth. FOCUS is the news feature section94 words
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THE WORLD
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569 1991-10-05 7 AFP MOSCOW A new class of Soviet businessmen has emerged with the first timid steps towards liberalisation, but they are now becoming impatient with the politicians, complaining they are too slow and do not understand what a market economy is. Businessmen's associations haveAFP - 569 words
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188 1991-10-05 7 FT LONDON A package of European Community food and humanitarian aid to the Soviet Union was agreed on Wednesday between John Major, the UK Prime Minister, Ruud Lubbers, his Dutch counterpart, and Jacques Delors, the president of the EC Commission. The proposals,FT - 188 words
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380 1991-10-05 7 AFP WASHINGTON The United States and its industrialised allies stand ready to assist the Soviet Union if it needs help in avoiding a default on its foreign debt, a senior US Treasury Department official said on Thursday. "They may have aAFP - 380 words
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239 1991-10-05 7 AFP SEOUL North Korea's economy is on the brink of collapse and will be strained to the limit by next spring, a Seoul newspaper reported yesterday,. The largest circulation Chosun Ilbo quoted a highranking government source as saying Seoul had confirmedAFP - 239 words
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350 1991-10-05 7 Pressure building for interest rate cut Reuter WASHINGTON Fresh US economic reports released on Thursday heightened concern that the fragile recovery may be faltering, adding to pressure for more interest rate cuts to induce consumers to buy more. The Commerce Department reportedReuter - 350 words
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Article, Illustration410 1991-10-05 7 AFP PRAGUE The Czechoslovak government has announced it was signing new cooperation and good-neigh-bour treaties with its main neighbours the Soviet Union, Germany and Poland aimed at replacing old pacts that bear the signatures of hardline communists. The Czechoslovak-Soviet treaty was initialled on ThursdayAFP - 410 words
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479 1991-10-05 7 Reuter CARACAS Wealthy Latin Americans are taking money out of bank vaults overseas and bringing it home, attracted by the promise of rich pickings as Latin America's economy perks up. The return of offshore capital, which took flight in the early 1980sReuter - 479 words
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WORLD WATCH
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126 1991-10-05 7 LONDON Iraq may have been closing in on the capability to build a nuclear bomb when the Gulf War broke out, a British newspaper said, quoting a team of United Nations weapons inspectors. The UN team, which is analysing documents it seized126 words
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Article89 1991-10-05 7 PARIS German Economy Minister Juergen Moellemann on Thursday said Germany should be prepared to make concessions in the bitter debate on farm subsidies which has stymied world trade negotiations. Mr Moellemann, addressing at a press conference here, said Germany would attempt to ease the deadlock in89 words
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Article69 1991-10-05 7 WASHINGTON China has responded to US demands that it remove import barriers, but the Bush administration has not yet decided if the offer is enough to spare Beijing trade sanctions, the US Trade Representative's Office said on Thursday. China's market-opening offer could also weigh on69 words
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Article110 1991-10-05 7 HONGKONG As the military crackdown on China's pro-democracy movement fades in the memory of holidaymakers worldwide, the country's tourism industry is experiencing a sharp revival from the slump after June 1989. The semi-official Hongkong China News Service said yesterday that tourist arrivals and the industry's earnings110 words
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Article62 1991-10-05 7 BEIJING Beijing, worried about public reaction to the collapse of Soviet communism, has launched an education campaign from college campuses to city alleyways to explain why socialism is safe in China. The message being driven home is that China is immune to the kind of upheaval62 words
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Article, Illustration34 1991-10-05 7 HAMBURG German President Richard von Weiz Saecker running his Angers through the beard of a spectator during a celebration of the first anniversary of German unification on Thursday.34 words
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364 1991-10-05 7 IHT PARIS The fledgling democracies of eastern Europe will need at least US$2O billion (5533.75 billion) in foreign capital per year for the next decade to achieve any substantive economic gains, a senior World Bank official said. Willi Wapenhans, speaking atIHT - 364 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration4591 1991-10-05 8 Carolyn Lim - By Carolyn Lim WHEN in doubt, follow the crowd. That was the order of the day yesterday as the local bourse retreated along with softer overseas markets. The Straits Times Industrials Index shed 7.11 points to 1,352.30. This wiped out Thursday's 2.37-point gain to4,591 words
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Article4062 1991-10-05 9 Main Board DBS Foreign 1210 +20 +1.7% GE Life 1400 20 +1 4% Roth Inds 50* 670 20 3.1% OCBC 875 +10 1.2% SIA Foreign 2000 +10 0.5% Sea View 410 8 +20% City Dev 50* 320 6 +1 9% B Sembawang 540 +5 +0.9%4,062 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2226 1991-10-05 10 Reuter TOKYO STOCKS ended easier yesterday but off lows. Brokers said profit-taking and wariness about overheating squeezed prices, while speculation about Soviet political troubles and reports that Prime Minister Toshiki Kaifu will not run for re-election, and yesterday being Friday fed a wait-and-see attitude. "Kaifu'sReuter - 2,226 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration1881 1991-10-05 10 Reuter AP SHARE PRICES on the Hongkong stock exchange closed lower in active trading yesterday. The Hang Seng Index, the market's key indicator of blue chips, lost 25.72 points, closing at 4,067.69. Turnover amounted to HK$ 1.631 billion, little changed fromReuter; AP - 1,881 words
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Page 10 Advertisements
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Advertisement29 1991-10-05 10 Prices for Tokyo are provided by Telerate Prices for Hongkong are provided by Telerate Read Chartpoint, a guide to investing in the Stock Market. Every Saturday in Business Times29 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration4117 1991-10-05 11 Bernama THE LACK of buying support in a listless market saw share prices here drifting all day yesterday to a lower close. The KLSE Composite Index at the close dropped 5.09 points to 513.11 while the Industrial Index was 10.36 points lower at 953.65.Bernama - 4,117 words
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Page 11 Advertisements
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Advertisement101 1991-10-05 11 FOR WHO, WHAT, WHERE AND WHEN HI THE ADVERTISING MARKETING, in BUSINESS TIMES every Thursday, covers a vital sector of the economy comprising the country's communications muscle. The page monitors business developments and the players in both international and Singaporean advertising agencies; it charts and reports on trends in public101 words
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REGIONAL STOCK MARKETS
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NZ stocks plunge on bad pension news
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Article337 1991-10-05 12 SHARE PRICES fell sharply yesterday as bond yields rose steeply on news that the government would reap a third less than planned from the reform of state pensions. Wall Street's 27.73-point fall on Thursday helped kick local shares down as well. The NZSE-40 Capital Index fell 23.09 to337 words
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Article825 1991-10-05 12 THE Australia share market closed barely higher in light trade yesterday, but performed better than expected after overnight falls in New York and London. A weaker Australian dollar and continued hopes of an easing in monetary policy were cited by brokers as reasons for the market's holding steady. "Hopes825 words
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Article725 1991-10-05 12 STOCKS yesterday rallied on a moderate 2.8 billion baht turnover in an unconvincing technical rebound that could be met with profit-taking next week. The SET Index gained 20.48 points or 3.2 per cent to close at 664.47. Gainers led losers 202 to 18. "We don't see the rally going725 words
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Article682 1991-10-05 12 JAKARTA stock prices closed barely change in slow trading yesterday. The official index was 250.46 against Thursday's 250.65. Turnover fell to 1.79 million shares from 2.96 million. Gudang Garam was well traded on the regular market, with 245,000 shares changing hands. It edged up 50 rupiah to 4,550 rupiah.682 words
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Article516 1991-10-05 12 SHARE PRICES surged as investors welcomed the government's decision to allow a three-year pullout of US forces, brokers said. The Manila Stock Exchange Composite Index rose 27.96 points to end at 988.27 against Thursday's close of 960.31. "We consider it a temporary trend... because the political and economic conditions516 words
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Article496 1991-10-05 12 SHARE PRICES yesterday reversed ear- ly losses to close slightly higher on late buying, but dealers said sluggish trade was likely to continue on domestic political concerns. The Weighted Index finished at 4,742.71, 16.56 points higher than Thursday's close. Turnover fell to NTS 11.7 billion from NTS 15.6 billion.496 words
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Article796 1991-10-05 12 SEOUL STOCKS gained sharply in active trading yesterday with buying focused on financial counters. "The index soared although there were no specific and fresh market boosting factors," a Daishin Securities broker said. So-called "big hands" individual investors with large amount of money bought shares on expectations that the market796 words
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Article46 1991-10-05 12 SHARE PRICES fell on Thursday on fears the central bank may next week announce a tight credit policy for the second half of fiscal 1991/92 (April/March), brokers said. The Bombay Stock Exchange Index fell 57.07 points to 1,815.62. The National Index dropped 23.40 to 868.29.46 words
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Article440 1991-10-05 12 Close Pre*ious Oct 3 AUSTRALIA All Ordinaries Index 1.587.7 1.584.5 +3.2 All Industrials Index 2.455.7 2.447.3 +7.4 All Resources Index 924.2 924.0 +0.2 Turnover (million) 106.8 83.1 +23.7 BANGKOK SET Index 664.47 643.99 20.48 Turnover (billion baht) 2.8 2.51 +0.29 JAKARTA Composite Index 250.46 250.65 -0.16 MANILA Composite Index 988.27440 words
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Page 12 Advertisements
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Advertisement9 1991-10-05 12 Managers must nanage. ET shows you how every Monday.9 words
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WORLD STOCK MARKETS
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Dow falls sharply to end below 3,000 mark
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Article206 1991-10-05 13 Oct 3 Close Previow NEW YORK Dow Jones 2.984 79 3.***** -27.73 SAP 500 384.47 388.26 -3.79 Turnover (million) 174.4 167 +7.4 LONDON Financial Times 30 2.019.2 2.037.9 -18.7 FTSE 100 2,625.6 2.644 2 18.6 Turnover (million) 511.9 545.5 -33.6 FRANKFURT DAX Index unav 1.599.12 AMSTERDAM CBS Tendency Index 89.5206 words
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Article, Illustration1187 1991-10-05 13 INVESTORS' fears over corporate profits sent stocks down sharply on Thursday, with the Dow Jones Industrial Average falling below 3,000 for the first time in three weeks. Lower earnings forecasts by analysts caused a few individual stocks to tumble. The Dow, under pressure from a sellofiF in technology1,187 words
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Article, Illustration651 1991-10-05 13 SHARE PRICES closed lower on Thursday on the London Stock Ex- change after rising 45.2 points over the three previous sessions. Brokers said the fall was based on a combination of earning downgrades and fading takeover speculation in some key stocks and simple profit-tak-ing on some of the market's651 words
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Article247 1991-10-05 13 ITALIAN STOCKS closed lower on Thursday with most blue chips posting losses after the short covering rally that boosted prices in the past two sessions ran out of steam. Even stocks like SIP and STET, firm favourites with foreign investors in recent sessions lost ground, following in the footsteps247 words
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Article287 1991-10-05 13 SWISS SHARES ended a quiet session slightly easier on Thursday. Dealers said profit taking, also initiated by a weak Wall Street opening, erased earlier gains. The All-Share SPI Index closed 0.3 points easier at 1,089.2 while the SMI Index of leading shares lost 0.9 to 1,686.8, compared with the287 words
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Article134 1991-10-05 13 PRICES ON the Stockholm bourse closed off the day's highs but sharply up from Wednesday after Conservative leader Carl Bildt was formally elected Prime Minister for a centre-right coalition government, dealers said on Thursday. "Clarity about the government was decisive for the upturn on the bourse, although it could134 words
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Article413 1991-10-05 13 ANOTHER FIRM performance in world gold prices gave a recently lethargic stock market a lift on Thursday, but volumes remained relatively thin due to South Africa's continuing political and economic uncertainties, dealers said. The JSE All-Gold Index closed firm at 1161 versus Wednesday's 1140 close while the Industrial Index413 words
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Article273 1991-10-05 13 SHARES IN Amsterdam closed just above a new support level on Thursday after earlier testing another psychological low, dealers said. The EOE 25-share Index closed 1.97 points lower at 270.87 after sinking to a day low of 270.42 in thin afternoon trading. It failed to breach the psychological 270273 words
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Article218 1991-10-05 13 THE PARIS BOURSE was depressed on Thursday, operators said, as investors continued to lose confidence in the wake of disappointing economic statistics, especially from the United States. The CAC-40 Index was down by 0.44 per cent at the opening, and finished the day at 1,867.11 points, off by 0.59218 words
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Article190 1991-10-05 13 BELGIAN SHARES surged in a last minute rally on Thursday apparently triggered by institutional buyers snapping up blue chips, dealers said. One dealer said a single institutional buyer was responsible for the surge while another said two brokers were responsible. "There was tremendous volume in the last quarter of190 words
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Article318 1991-10-05 13 TORONTO STOCKS ended flat on Thursday as investors stepped to the sidelines ahead of yesterday's US September jobless data, traders said. "That's what everyone's holding their breath for," said analyst Joe Ismail at Security Trading Inc. The Spot Bank Index rose 1.17 per cent to 203.95. Officially, the TSE318 words
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Page 13 Advertisements
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Advertisement22 1991-10-05 13 The Frankfurt market was dosed for a holiday. Managers must manage. BT shows you how every Monday Chartpoint in BT every Saturday22 words
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CURRENCY, MONEY & FUTURES MARKETS
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1201 1991-10-05 14 REPORTS lASKA Tokyo: THE dollar was lower against the yen yesterday and barely changed against the mark in late Asian trade although some short-covering emerged in the afternoon ahead of release of US September jobs at 1230 GMT. The dollar1,201 words
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Article387 1991-10-05 14 Cross rates oct4 USS SS MS Dm Yen SFr AS NZS USS 1.6865 2.7335 1.6640 129.95 0.5714 1.4535 1.2571 1.7578 SS 0.5929 1.6208 0.9867 77.0531 0.3388 0.8618 0.7454 1.0423 MS 0.3658 0.6200 0.6087 47.5398 0.2090 0.5317 0.4599 0.6431 Dm 0.6010 1.0135 1.6427 78.09 0.3434 0.8735 0.7555 1.0564387 words
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399 1991-10-05 14 Reuter NEW YORK The world's bond markets are set for rapid growlh this year as budget deficits rise again in industrialised countries, Salomon Brothers Inc analysts said. "International bond issuance so far in 1991 has soared beyond the levels of the pastReuter - 399 words
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245 1991-10-05 14 Reuter PARIS France's financial futures exchange, Matif, is stepping up its efforts to beat the success of its British rival (Liffe) in Italian Treasury Bond (BTP) futures. Matif held a crisis meeting last week. It decided to look into reforming tradingReuter - 245 words
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Article1067 1991-10-05 14 SIMEX EWOPOtUUt Open High Low Sett Est Vol Op/Int Vol Dec 91 94.38 94.43 94.38 94.42 ***** ***** ***** Mar 92 94.48 94.53 94.48 94.51 ***** ***** 8448 Jun 92 94.30 94.33 94.29 94.31 4500 6843 4257 Sep 92 93.97 93.99 93.97 93.99 1000 2507 1524 Dec 921,067 words
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Article518 1991-10-05 14 Interbank rates oct4 BM Offer US$ Bid Offer Overnight 2 3/4 3 7 days 5 1/4 5 3/8 1-month 4 1/4 4 3/8 j mt h 5 3/15 5 5/15 2-month 4 5/16 4 7/16 3 Jg 5 3/8 5 1/2 J-«*! ,5 41,5 '2 Ovemqiht mode 3518 words
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Page 14 Advertisements
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Advertisement6 1991-10-05 14 Innovation Technology in BT every Tuesday6 words
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Advertisement7 1991-10-05 14 Advertising and Marketing every Thursday in BT7 words
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COMMODITIES
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321 1991-10-05 15 Reuter LONDON The price of gold is likely to average US$4OO (*****) an ounce next year and reach a high of US$45O, Credit Lyonnais Laing, part of the Credit Lyonnais group, forecast. Prices will rise due to strong fundamentalsReuter - 321 words
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418 1991-10-05 15 Reuter SINGAPORE Venezuela wants to expand fuel oil sales to the Far East but traders are casting a wary eye on the current regional glut, trade sources said. "Venezuela has surplus fuel oil, especially 900 centistoke (est) fuel oilReuter - 418 words
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848 1991-10-05 15 REPORTS SINGAPORE RUBBER prices closed generally higher yesterday but with pared gains in quiet trading. Dealers said prices rose by about 1.25 cents during morning trade on covering interest and buying of nearby positions. But the gains were pared slightly in the afternoon848 words
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Article1326 1991-10-05 15 Rubber ocm ■M m \m Mm) S cents/kg Noon Close Int I RSS Prompt 138.25/139.25N 137.75/138.75N Int 1 RSS Nov 91 139.75/140.25 139.25/139.75 Int 1 RSS Dec 141.00/141.50 140.50/141.00 Int 2 RSS OP 136.500 38.50N 136.50/138.50N Int 3 RSS OP 135.00/137 00N 135.00/137.00N Int 4 RSS OP 131.50/133.SON 131.50/133.50N1,326 words
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Page 15 Advertisements
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Advertisement11 1991-10-05 15 Your search for EXECUTIVE OPPORTUNITIES begins with the EXECUTIVE APPOINTMENTS page11 words
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Advertisement31 1991-10-05 15 GET THEM NOW!^ WSF-'-Wks E&ts*,* j£*s JK& v -^v A V From Your Newsvendor, Newsstand At Times The Bookshop Published by Times Periodicals Re Ltd A member of Singapore Press Holdings31 words
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Article, Illustration601 1991-10-05 16 Yang Razali Kassim - Aspirations of S'pore's Chinese mass base must now be addressed By Yang Razali Kassim SINGAPORE The Government will have to plug a gap in its sense of balance and perspective by addressing the aspirations of Singapore's Chinese mass base who have shownPhoto by Arthur Lee - 601 words
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412 1991-10-05 16 SINGAPORE Lamenting how increasingly difficult it was to find and keep good men in public office, Mr Lee Kuan Yew last night expressed sadness over the impending departure of two heavyweight ministers from the Goh Chok Tong cabinet. The Senior Minister said the loss412 words
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285 1991-10-05 16 AFP SEOUL The government is widening its probe into South Korea's giant Hyundai group for alleged tax evasion to include other business conglomerates. National Tax Administration Commissioner Suh Young-Taek yesterday told journalists that investigations were underway into the Hyundai group andAFP - 285 words
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Article, Illustration568 1991-10-05 16 Agencies TOKYO Prime Minister Toshiki Kaifu decided yesterday not to seek re-election in the face of crumbling support from party leaders, who abandoned him for overstepping the bounds of his caretaker role. The decision immediately set off the search for new leadershipAgencies - 568 words
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292 1991-10-05 16 Schutz Lee - By Schutz Lee SINGAPORE Vietnam is ready to have relations with any country that wishes to do the same, says its Minister for Commerce and Trade, Le Van Triet. He made the point to BT at the end of his two-day visit292 words
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359 1991-10-05 16 Dawn Tan - Desaru resort dispute By Dawn Tan THE Johor government has many offers to complete the M 53.4 billion (552.07 billion) stalled Desaru project. In a move clearly aimed at putting further pressure on the squabbling partners, Johor Mentri Besar Tan Sri359 words
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Article, Illustration64 1991-10-05 16 SINGAPORE Singapore will be the international headquarters for Crosby Securities Group's research activities as well as its regional headquarters, chairman Timothy Beardson said. At a cocktail party to mark the occasion yesterday, Mr Beardson (left) was seen with Crosby Singapore's managing director Bruce Darrington64 words
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285 1991-10-05 16 Reuter UPI KUALA LUMPUR Malaysia has decided to impose a 30 per cent import tariff on polypropylene and polyethylene to help protect the huge capacity coming onstream in the country, industry officials said. "The tariff has been approved at a rate of 30Reuter; UPI - 285 words
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183 1991-10-05 16 Reuter PHNOM PENH A Cambodian brewery will start production next month, providing the country's drinkers with their first local beer since 1975. "We felt this was an opportunity we couldn't refuse. There's no local beer in Cambodia and we feel every countryReuter - 183 words
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259 1991-10-05 16 Kenneth James - By Kenneth James SINGAPORE Noted local economist Lim Chong Yah yesterday drew sharp lessons for Singapore from his theory of development and underdevelopment, citing shortcomings of the Republic which he said included the inadequate supply of high-level manpower and the independent schools policy. Professor Lim voiced259 words
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Page 16 Advertisements
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Advertisement65 1991-10-05 16 CHARTPOINT Every Saturday in Business Times Do you want to communicate to the American-Canadian market? The right style is essential for acceptance and cost-efficiency. A Senior American ADV/PR Copywriter, visiting teacher, can help. Top international references, print, broadcast, direct marketing, and public relations experience. Hourly fees only, all work guaranteed.65 words
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Advertisement6 1991-10-05 16 CHARTPOINT Every Saturday in Business Times6 words
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Executive Lifestyle
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Article, Illustration1436 1991-10-05 17 Nirmal Ghosh - The flip of fish at sea never fails to bring a gleam to the eye of many a harried high-flier. Passionate enthusiasts snare their thoughts with Nirmal Ghosh Nirmal Ghosh Most of 27-year-oid Gilbert Ee's working hours are spent in high-tension grappling with a volatile environment. He is1,436 words
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Article27 1991-10-05 17 THANKS to the Senior Minister's visit to the Soviet Central Asian republic last month, Kazakhstan's telecommunication amenities could become legendary .-I in Singapore:27 words
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Article35 1991-10-05 17 DAY ONE: Someone tried to fax some papers to Singapore. The process started jn the early afternoon, bul-il was only eight hours later before any transmission took place. End of use of facsimile.;35 words
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Article65 1991-10-05 17 WELL, so communication aren't exactly instantaneous like in Singapore. But at least you cannot fault the Kazakhs on perseverance. A journalist booked a call to Singapore with the hotel operator early one evening, and all but up when the connection failed to come all night. But the65 words
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Article82 1991-10-05 17 LITTLE wonder then that one Singapore journalist dubbed Kazakhstan a logistical nightmare. But couldn't the Singapore press have known better, a lady Kazakh interpreter helping the journalists wondered sympathetically. Why, the week before, the American press troupe who converged in Alma Ata for US Secretai7 of State82 words
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OPINIONS
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986 1991-10-05 18 Nirmal Ghosh - Nirmal Ghosh reviews one of the environmental issues contributing to rising temperatures as nations prepare for the Earth Summit Nirmal Ghosh The writer is a BT journalist E AST-WEST (and North-South) environmental heat is again rising gradually, and will climax at the United Nations Conference986 words
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Article, Illustration839 1991-10-05 18 Sree Kumar - Sree Kumar says Africa needs a reawakening and that the days of a father figure leading the nation are numbered Sree Kumar The writer, formerly a management consultant, is currently a research fellow at the Institute of Southeast Asian Studies.839 words
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Article751 1991-10-05 18 Sree Kumar - The SICC-PUB tussle Sree Kumar I MUST thank Mr CS Wu for a highly illuminating background on the Singapore Island Country Club (SICC) and its noble ideals (BT, Sep 28/29). As Mr Wu has pointed out, the SICC was formed to give Asians a751 words
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Article662 1991-10-05 18 Ms Lim Mei - LETTERS TO THE EDITOR Ms Lim Mei THE ISSUE of the proposed "takeover" of the SICC by the PUB has been portrayed in the press as a case of "members of SICC versus the PUB." This impression appears to stem from the EGM at which662 words
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SPORTS
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Article395 1991-10-05 19 AP CHI CHI Rodriguez is within reach of a ca-reer-long goal. "I want to be No 1," the little man with the Panama hat said before a practice session for the US$l.5 million Vantage Championship, the Senior PGA Tour's richest event that began yesterday inAP - 395 words
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Article, Illustration791 1991-10-05 19 Susan Tsang - Susan Tsang reflects on the lure of the ultimate endurance test Susan Tsang OF ALL the events at track and field meets, the 100 m dash and the marathon are the ones that most capture popular imagination. Both events, at opposite ends of the distance791 words
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SIDE LINES
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62 1991-10-05 19 STUTTGART, Germany Mats Lanner of Sweden and Mark Davis of England shot identical six-under-par 66s on Thursday to take the first-round lead in the USSI.S million (552.5 million) German Masters. Lanner and Davis held a one-shot lead over a quartet of players: Englishmen Nick62 words
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Article84 1991-10-05 19 SAN ANTONIO, Texas Some time off worked wonders for Keith Clearwater here on Thursday as he fired a seven-under-par 63 to take a one-shot lead after the opening round of the Texas Open. Clearwater, winless since 1987, scored seven birdies without a bogey on the84 words
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106 1991-10-05 19 NEW YORK New Zealand's Sandy 43, on Thursday became the first woman ever to finish the Sri Chinmoy 2,080 km race, the world's longest certified run. It took her 17 days, 22 hours to complete the event, which is run on a circuit106 words
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Article88 1991-10-05 19 TOULOUSE, France John McEnroe reached a quarter-fi-nal showdown with Dutch "giant-killer" Richard Krajicek here on Thursday when he defeated Spain's Thomas Carbonell 6-1, 6-4. Krajicek earlier scored a major upset when he defeated third-seeded Jakob Hlasek of Switzerland 6-2, 6-4. Hlasek's compatriot Marc Rosset fared better88 words
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Article74 1991-10-05 19 MILAN Top-seeded Monica Seles crushed Laura Garrone 6-0, 6-1 in 49 minutes at the Milan Ladies Indoor on Thursday to qualify for the quarter-finals of the U*****,000 tournament. Second-seeded Martina Navratilova had a tougher time against unseeded Australian Rachel McQuillan. The American player lost a first74 words
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Article68 1991-10-05 19 NEW YORK George Foreman will return to the ring for the first time since losing to heavyweight champion Evander Holyfield when he takes on Jimmy Ellis on Dec 7, promoters said on Thursday. Foreman, 42, who lost a stirring 12-round decision to Holyfield in April,68 words
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EPICURE
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Article, Illustration558 1991-10-05 20 Quek Swee Peng - Quek Swee Peng joins the throngs of shirt-and-tie and skirt-and-jacket at Wah Lok Quek Swee Peng SOME THINGS never change at Wah Lok. Too many people. Too much noise. Too much food. It's amazing how this restaurant manages to pack in the throngs of shirt-and-tie and sfcirt-and-jacket from558 words
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LIFESTYLE
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Article, Illustration866 1991-10-05 21 Nirmal Ghosh - Nirmal Ghosh met Anthony Brooke, last of Sarawak's white rajahs, in his old capital when he returned for a short visit in July Nirmal Ghosh Sarawak's white rajah revisited his erstwhile kingdom in July to a less than ecstatic welcome. Anthony Brooke, onetime Rajah Mudah (Crown Prince)Picture by Nirmal Ghosh - 866 words
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Article, Illustration272 1991-10-05 21 Sybil Holloway - BRIDGE By Sybil Holloway THERE were eleven top tricks and all now depended on the club situation. South decided to investigate the complete pattern before he touched clubs. First he cashed his top hearts, East dropping a diamond. Next, both opponents followed272 words
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Article, Illustration631 1991-10-05 21 N K Yong - WINE By N K Yong ONE OF the great pleasures of dining in Europe is the wine lists, not only in the top restaurants but even in more modest establishments. You can always tell when care has gone into the drawing-up of the631 words
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PURSUITS 1
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Article, Illustration1289 1991-10-05 22 Claire Leow - Claire Leow muses on art and artifact in Paris Claire Leow PARIS is famous for marvellous architecture and good museums. The Louvre is a remarkable combination of both. The museum, possibly the world's largest, was at the centre of raging debates when the Mitterrand government1,289 words
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Article, Illustration720 1991-10-05 22 Quek Swee Peng - Quek Swee Peng previews fashion designer Karl Lagerfeld's auction of his Memphis-designed furniture and objects Quek Swee Peng THE MEMPHIS design group, described as the Art Deco of the 80s, has been credited with changing the face of contemporary furniture. A postmodernist group, Memphis was set up720 words
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Article, Illustration660 1991-10-05 22 Bam Tan meets the little people who have neither handphones nor MB As Double on the Rocks By Alex Soh Brit Aspen 203 pages, $9.90 Reviewed by Susan Tsang BAM Tan is a yuppie who seems to have his act nicely together with a "S3K a month"660 words
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Article, Illustration786 1991-10-05 23 Nirmal Ghosh - Zoos have come a long way, but the road ahead could be longer still, reports Nirmal Ghosh Nirmal Ghosh ZOOS have traditionally been dismissed by mainstream wildlife conservation as irrelevant. At worst they have been castigated by animal rights groups for keeping species786 words
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Article357 1991-10-05 23 Nirmal Ghosh - Nirmal Ghosh explains the worldwide concern over the loss of biodiversity Nirmal Ghosh MOST conservation meetings today touch upon the subject of biodiversity. Indeed, any conservation of living species preserves biodiversity. Speakers at the recent lUDZG conference emphasised that zoos must try and represent357 words
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Article, Illustration332 1991-10-05 23 You have a good series with an Emmy-winning star but it flops, so what do you do? You add another Emmy-winner to the cast ABC has found the means to infuse a solid dramatic series suffering from anaemic ratings with life-giving plasma: it added332 words
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PERSONAL FINANCE & INVESTMENT 1
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DON'T QUOTE ME!
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116 1991-10-05 24 Lee Han Shih - Compiled by Lee Han Shih CELEBRATING its 150 th anniversary this year. Dun Bradstrect has succumbed to the temptation of giving itself a few pats on the back. Reaching back into its long history, the financial information provider noted with satisfaction that its credit reporters116 words
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Article40 1991-10-05 24 A RECENT BT article on the former head of Philip Singapore B H Hylkema, who has left Singapore, elicited this response from the Dutch giant: "Thanks for the ravishing write-up on Mr Hylkema in today's Business Times". Ravishing?40 words
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Article136 1991-10-05 24 HERE is a contrarian view to all those wonderful eulogies on the late Sir Y K Pao. Despite his wealth and fame, Sir Y K was viewed by many as having sold out his Chinese heritage after he accepted a knighthood from the British. Perhaps136 words
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Article, Illustration531 1991-10-05 24 Goh Hiang Fong - OHAW By Goh Hiang Fong Goh Hiang Fong is head of research. Lum Chang Securities B Y THE same time next week, the Singapore stockmarket would have completed its current 50-week cycle which begafft bn Oct 26, 1990. If readers remember, this531 words
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Article, Illustration512 1991-10-05 24 SINGAPORE Computer Systems does not come cheap. Prospective price to earnings ratio (PPE) is 19.2 times based on the fixed 60-cent ofTer price for small investors. At 66 cents the minimum bid price the PPE is 21.1 times against the market average of about512 words
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Article602 1991-10-05 24 Carolyn Lim - Carolyn Lim analyses the bidding system that is being introduced with the public offer of Singapore Computer Systems and advises that there is... STOCK Carolyn Lim The issue at hand was the public offer of Singapore Computer Systems (SCS). But judging by the way602 words
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Article, Illustration703 1991-10-05 24 Magdalene Ng - Magdalene Ng finds out why fund managers are betting their money on Thailand Magdalene Ng THE THAI stockmarket has been a real letdown, shedding 16 per cent in the past three months. But foreign fund managers who have deserted the stockmarket now believeSource: BZW Pacific - 703 words
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325 1991-10-05 24 HERE are some of the stocks recommended by Hoare Govett Bangkok: Industrial Finance Corp of Thailand (price: local 157 haht) A government-backed development bank, IFCT is expected to benefit from the financial reforms planned by the interim government. It expects to get a' foreign325 words
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Article290 1991-10-05 24 INVESTING IN Thai equities is so much easier these days. You do not need to depend on country funds anymore and can simply pick up stocks through the Stock Exchange of Thailand (SET). Trading on the SET is done on three separate boards: the290 words
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Article, Illustration640 1991-10-05 25 Quak Hiang Whai - Stay away from stocks, bonds and the US dollar. If you must, buy orange juice, says UK chartist David Fuller. Quak Hiang Whai reports Quak Hiang Whai "A market letter just crossed my desk which rapturously forecast a doubling of the USE 100640 words
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Article, Illustration893 1991-10-05 25 S N Vasuki - There are clear signs that a correction is already taking place on the volatile Taiwan stockmarket. S N Vasuki studies the long-term prospects for the market S N Vasuki THE TAIPEI stockmarket is synonymous with volatility. Dizzy swings in the country's weighted index are893 words
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Article903 1991-10-05 25 0 Prices as at 4.10.91 Conversion terms Premium/ Expiry (diSCOMt) —I Amount Optional** Ming lit uod Company (mM Wrts Sdaro Loan Coin Exor Lnstk Cash Cart. Loan Gearing. Date Mths units) stock ratio price nom Stk Loft valve s BurVrilt 115.2 0.200 0 640 1 00903 words
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446 1991-10-05 25 STAY AWAY from the greenback, buy orange juice. That could well be a financial doctor's advice for currency traders. The US dollar is a sinking ship and will fall to its lows against the major European currencies and the Japanese yen, said Mr446 words
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JOBS
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Article, Illustration1145 1991-10-05 26 Andrea Borch - Chew Gaik Hean, ICl's general manager for quality, says her job is to reach the hearts and minds of people. And it's no easy task, she tells Andrea Borch Andrea Borch WHEN Chew Gaik Hean became ICl's general manager for quality in the Asia-Pacific region in 1989, she1,145 words
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Article, Illustration356 1991-10-05 26 Mr Fergus Brown has been appointed Regional Director for Asia of the New Zealand Tourism Department. Singa-pore-based Mr Brown, who joined the tourism office earlier this year, will be responsible for the administration and marketing of New Zealand as a destination. Mr Brown comes to this position from356 words
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Article1087 1991-10-05 27 ctty m«M eta ra*t ETC GA890 0050 MM« RJ183 0030 Ontordiw SQ19 0755 SQ24 0100 KL837 1255 KL838 2240 SQ38 2330 GA890 2350 Whlinrt N221 1820 NZ22 1930 SQ338 2030 Bakrata GF148 1000 ftiHhiptn GA525/ 910 1755 3wi M SQ181 1410 TG402 0830 Untk* SQ69 11451,087 words
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THE TRAVEL PAGE
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Article, Illustration537 1991-10-05 27 Jules Stewart - LETTER FROM NEPAL By Jules Stewart Mountaineers planning to tackle the world's highest peak will have to set their sights on a new summit in about 150,000 years' time. That is when Pakistan's Nanga Parbat, at 8,126 metres now merely the ninthhighest mountain on537 words
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Article152 1991-10-05 27 As at 3pm yesterday: Locml dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.3383 1.3497 Canadian dollar 1.4754 1.4977 NZ dollar 0.9500 0.9884 Sterling pound 2.9352 2.9602 US dollar 1.6850 1.6890 Local dollars to 100 uhs of foreign currency Austrian schilling 14.27 14.48152 words
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Article55 1991-10-05 27 Duration Title Venue Organiser Tel Duration Title Venue Organiser Oct 1-6 International Verona Ente Autonomo *****8811 q* 2 10 Tehran Ir-Tehran Export Promotion *****1911 Earth Moving A (Italy) Di Verona International Fair (Iran) Centre of Iran Building Machinery Trade Oct 5-9 Cuisine Cellar Wein Weiner Messen **********055 words
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TIME OFF
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Article73 1991-10-05 28 Singapore Symphony Orchestra Soloists Anne Margarethe Dahl, Glenn Winslade, Michael Rippon and Andrew Collis join the Singapore Symphony Chorus and Orchestra in a performance of Berlioz's The Damnation of Faust. Lim Yau conducts. Venue: Victoria Concert Hall. Tonight. 8.15pm. Mozart's 'The Magic Flute' Lyric Theatre production of Mozart's The73 words
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Article, Illustration278 1991-10-05 28 Yasotha M - Compiled by Yasotha M The Spirit of Han An exhibition on Han Dynasty ceramics jointly organised by the National Museum of Singapore and the Southeast Asian Ceramics Society. A large collection of pieces originating from Han tomb excavations will be on display. The book The Spirit of Han, published278 words
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Article624 1991-10-05 28 Atame! Tie me up or tie me down. Doesn't really matter, I'm not doing much anyway. A loonie abducts a porn star and tries to convince her that there's more to a rope than skipping with it. Sadomasochistic romp by Pedro Aldomovar. Stars Antonio Banderas and Victoria Abril. See624 words
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Page 17 Advertisements
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Advertisement161 1991-10-05 17 dn b 24-hour loan 4 information Serviit 6 Approval" 33 4 35 8 8 3343 6 8 8 V itwv m in lIP ■^MrvxT jj^^W Available Exclusively SINGAPORE: Burberry* Main Shop: 390 Orchard Road. #BI 01"02 Palais Renaissance Shopping Arcade. Singapore 0923 Tel *****13 Burberry* Shop-ln-Sbof* DAIMARU DFS Orchard Hai161 words
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Page 18 Advertisements
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Advertisement24 1991-10-05 18 BT welcomes letters from you. Address them to: The Editor, Business Times, 390 Kim Seng Rd, S'pore 0923. Letters should include your contact numbers.24 words
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Page 18 Miscellaneous
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Miscellaneous66 1991-10-05 18 DOONESBURY BY GARRY TRUDEAU you hps I !Z imvwoKK eeucuev, yovregoingto hap to Move H <50/ that's not a prcglemof um... for peanuts. W I WHAT I #V, THAT HE I A YOU PONT POU&CB DUTY I FOR 7 fl Utfft ONLY A POINT THROUGH THE YEARS, TP GET 6EAUAL66 words
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Page 19 Advertisements
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Advertisement88 1991-10-05 19 I COOL. COOLER. For around 400,000 dollars less than a Porsche 911, you can acquire something much cooler. The Electrolux mini Cool. Totally noiseless. Available in black, white, grey or brown, to complement the decor in your office or in your living room or bedroom at home. To order this88 words
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Page 20 Advertisements
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Advertisement226 1991-10-05 20 WHERE TO WINE, DINE AND ENTERTAIN WHERE TO WINE, DINE AND ENTEBTAIN WHEBE TO WINE, DINE A PRINCESS •••now on Fridays and Saturdays From now on, our Chinese Porridge Buffet will be served only on Fridays and Saturdays from 10.30pm to 3.30 am but at the same old prices $11.00226 words
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Advertisement326 1991-10-05 20 nuime&jf Mushrooms galore at Nutmegs! Specially flown in for this occasion, choose from morels, boletus, truffles, chanterelles, shitake, just to name afew. Our chefs are cooking up a storm with an irresistible menu. From appetisers, soups and main courses, indulge to your heart's content on these delightful morsels. From Friday326 words
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Advertisement250 1991-10-05 20 Why worry about breakfast or lunch on I Phi Wrpn'c »lazy Sunday morning? Come down for brunch with your whole family and Activities at feast on a delectable spread of hot dishes, soups, appetizers and I hUnAjameS desserts, all prepared to N Comer! TtT (J (J $20 nett (Adult) J250 words
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Advertisement275 1991-10-05 20 X t/„ cant resist a Cjerman dish. BBSi I I 0j German Buffet Lunch y JL October 1-31 OP Noon 2-30 pm Adult: $36+ by Child below 10: $18+ S We serve the world to you at The Belvedere. V v//sm<brm fmflK*' f*. r !>w"' I r^PTTTC /o\/z_ XI IjOUIOdO275 words
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Page 21 Advertisements
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Advertisement137 1991-10-05 21 AND ENTERTAIN A scrumptious buffet selection for the adults. Cartoons and toys for the kids. Every Sunday. II am to 2.30 pm. Adults $31 Kids $19++ For reservations, A HOTEL please call 732-1222 ext 1582/1597. Tttophont (65) 732 1222 W- 1 V I GET FRESH AT OUR SEAFOOD PROMOTION jl>137 words
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Advertisement37 1991-10-05 21 gl SUNDAY §1 PI FAMILY 19 BRUNCH B $13+ H (S7 for children under 12) TEE-OFF CAFF; RjS BAY GOLF COUNTRY CI -UB 6 MARINA GREEN SINCAPORF. 0101 FOR RESERVATIONS PI .EASE CAII. 221 2811 /Ml 422137 words
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Advertisement60 1991-10-05 21 FOURPLAY TURTLE ISLAND #iifui H STRING f *«!««■«<» QUARTET Best Siring Quartet Jazz Time* Readers Critics Poll 1990 Leonard Feathers Jazz Pick Village Voice 1989 Best Jazz Ensemble Village Voice 1990 Golden Feather Award Best Instrumental Group 1989 Best \e* Jazz Group L A Times 1989 Grammv Nomination Best Jazz60 words
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Page 23 Advertisements
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Advertisement67 1991-10-05 23 i Jl rna 1*I« {T£giytet| i I'rf I v /mm |^^^^^^^^SrSs!dH2JSnthd!BßW|Hß^^^§ jt a-.JSSS\\ ii 2j|g Survival Kit We've sharpened our image and focus to help you tame your corner of the concrete Jungle. A sleeker Singapore Business now gives you even better coverage of how companies in the Republic and67 words
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Page 25 Advertisements
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Advertisement222 1991-10-05 25 11 lit' i Quick and Easy. Get instant cash for your shares over the counter at any of our 28 branches -i Scripless Counters are also acceptable Loans from $2,000 to $100,000 iwm\ Borrow for one, two or three months t 4 Use the loan for any purpose No monthly222 words
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Page 25 Miscellaneous
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Miscellaneous0 1991-10-05 25 -[$?:([:=+;<[/}*'*<(_)*,^/;[':^0 words
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Page 26 Advertisements
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Advertisement276 1991-10-05 26 BUSINESS TIMES TELEPHONE: 730-5771/5772/5773 FAX; 734-4982 LEE KUAN YEW SCHOLARSHIPS The Lee Kuan Yew Scholarships are prestigious Postgraduate Scholarships intended for outstanding Singaporeans to pursue postgraduate studies overseas or locally in order to develop their potential as leaders in their fields and community. Applications are now open for the 1992276 words
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Advertisement215 1991-10-05 26 Advertisement OPENING OF DHL AIR EXPRESS CENTRE The DHL Air Express the most sophisticated air chose Singapore as its first base Centre in Singapore was officially facilities in this part of the lor the Aeia Pacific region. Now in opened by Mr Mah Bow Tan, world 1991, Singapore is indeed215 words
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Page 27 Advertisements
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Advertisement42 1991-10-05 27 Only Finnair would fly round in circles to London. Every Tuesday and Friday from Singapore to Helsinki and on to London via The Great Circle Route. Get round to calling us today. The number's *****77 We know Europe from start to Finnish.42 words
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Advertisement11 1991-10-05 27 An 11 -year-old bride! *a t in. Indict ■4i From lunch-time.11 words
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Page 27 Miscellaneous
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Miscellaneous280 1991-10-05 27 I ■—MM—M Drive round Northern Ire- —-LJ— JMj"""" 31- Eastern Russia or southern 10 Make situation worse for a Girl Guide initially, Virgin- class 11 Principal leading lady in 12 Boss of the horse—breed- ""iHI" ing establishment _JBL_BBLJBL_BBL—BH— 14 In which one should enjoy I I j I I I280 words
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Miscellaneous194 1991-10-05 27 Singapore Outlook: Hazy with showers over several areas in the afternoon. Report Maximum temperature 32.8 Assoc humidity..- 55% Minimum temperature 26.4 Assoc humidity 87% Hours of sunshine 7.6 Rainfall in mm Nil Rainfall this month Trace Rainy days this month Nil Asia-Pacific Hi/Lo* Cond. Auckland 16/12 Windy Bangkok 32/25 Showers194 words
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Miscellaneous20 1991-10-05 27 is SOPOPILUMAS ftBoUT POP RMD -ffeRRV Moose. OOURNPiL/\f /heSvuTN »p> sqgeP y V^gfeND 1 8530 EVEMNO STANOARO CO LTD.. IM2-IMI20 words
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Page 28 Miscellaneous
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Miscellaneous1679 1991-10-05 28 TODAY'S TV WJTmVffTSm ■■MfIHM 11.30 TV Psndklkan. wM AL 12 00 NN Htm% (M > Aa 12.15 PM Rush The Great Tempatmu Disisiku, 3pm, Wildlife Tales: Climb up Kili- V,, w tf y Eastern Bubble SBC 5 manjaro, 11.55 am, SBC 5 J Y 1.04 Azan Zohor. A 1980 Indonesian1,679 words
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Miscellaneous687 1991-10-05 28 MOVIES ON TV M 1g her carecr as a writer would Dtmny mhm, mm, i v.jvpm, probably not take off. 1981 German movie directed Tht Fallo Idol, Wed, by Karoly Makk. In the 10.30pm, SBC 12 course of a high-class hunting The ambassador's son Philparty, pampered Daniela lipe adores the687 words
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