The Business Times, 11 April 1992

Microfilm: NL18193
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    17 1 Business Times THE BUSINESS PAPER FOR S-E ASIA MITA (P) 35/12/91 Weekend Edition, April 11-12 1992 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      Dow higher
      36 1 WALL STREET opened higher yesterday, continuing a rally after the Fed moved to cut interest rates. After one hour of trading, at 10.30 am (1430 GMT), the Dow was up 23.03 points at 3,247.99.
      36 words
    • Article
      Footsie higher
      38 1 LONDON SHARES moved sharply higher in very active trading yesterday on the Conservative Party's surprise victory in the national election. The FTSE 100 index surged 137.9 points, or 5.7 per cent, to 2,574.3 by 1100 GMT.
      38 words
    • Article
      US consumer prices up a sharp 0.5pc in March
      43 1 WASHINGTON Consumer prices shot up an unexpectedly sharp 0.5 per cent in March, the biggest increase in 17 months, the US government said yesterday. Prices for food, energy and clothing all posted big gains.
      43 words
    • Article
      EC consumer, business confidence improves
      36 1 BRUSSELS European Community consumer and business confidence started to improve again in February, which could be a sign that the European economy is beginning to stir, the European Commission said yesterday.
      36 words
    • Article
      Good growth expected
      40 1 SINGAPORE'S pharmaceutical industry which grew by more than 43 per cent to $1.4 billion last year is expected to double its output within the next five years, said Economic Development Board chairman Philip Yeo yesterday. Page 2
      40 words
    • Article
      F&N revaluation
      54 1 FOLLOWING a major revaluation exercise, the value of Fraser Neave Ltd's River Valley land has been raised by almost 300 times. The March 31, 1992, exercise the second major revaluation undertaken in recent years by the F&N group has also added $280 million to the company's already strong
      54 words
    • Article, Illustration
      STOCK INDICES
      29 1 Friday Change BT-MGA 675.10 +12.04 Kuala Lumpur .571.31 +7.62 Tokyo 17,850.66 +1,252.51 Hongkong 4,921.11 +191.72 Sydney 1,582.0, +36.7 Tharsday Change New York 3,224.96 +43.61 London 2,436.4 43.2
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    • Article
      CURRENCIES
      28 1 London Gold AM fix USSS34I.OO USS2.60 USS SS 1.6470 100 Yen SS 1.2444 MS SS 0.6468 Money market rates Overnight 3 1/4% +3/8 3-montn 3 3/16 -1/8
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    • Article
      COMMODITIES
      27 1 I41.00*/kg unch M'sia May 2l9.00«/kg unch KL Tin Turnover 64 tonnes +34 Spot MSI4.59/kg +1 Crwte palm oil Turnover 721 lots +157 June MS918 /tonne ->-8
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  • Article
    C&C, Hotel Props launch takeover of M Credit
    743 1  -  But battle may be long as Teos may get help from M sian cousins By Sylvia Wong SINGAPORE Cycle and Carriage Ltd (C&C) and Hotel Properties Ltd have teamed up to make the longspeculated move to unseat the Teo family from Malayan
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  • Article
    Asian, European stocks soar
    304 1  -  By S N Vasuki SINGAPORE Asian and European stock markets were in the grip of a bullish fervour yesterday. With sentiments buoyed by a strong revival in the Tokyo stock market and a surprisingly comfortable victory for the Conservative Party in the British general elections, buyers
    304 words
  • Article
    Lock icon M$ surges to 53-month high
    75 1 AFP KUALA LUMPUR The Malaysian ringgit yesterday surged to a new 53-month high against the American dollar, buoyed by a weak greenback overseas and sale of the United States unit by local petroleum companies for royalty payments. The ringgit closed at M 52.5475 (551.65) to
    AFP  -  75 words
  • Article
    Singapore rebuts US charges of unfair trade practices
    399 1  -  By Anna Teo SINGAPORE Singapore has disputed as misleading and inaccurate the US government's charges of unfair trade practices set out in the 1992 National Trade Estimates report. In a statement yesterday, the Ministry of Trade and Industry said the government noted
    399 words
  • Article
    Lock icon Major snatches dramatic win for Conservatives
    498 1 Tory victory expected to boost UK economy Reuter LONDON British Prime Minister John Major's dramatic general election victory yesterday that gave his freemarket Conservatives an historic fourth term will give a boost to the British economy, analysts and economists say. Sir John Banham, direc-tor-general
    Reuter  -  498 words
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      Page 1 Advertisements Column 1
      110 1 Nikon fka UfeuUi. j Hi. ftuatem ln§ 9 lOwtt ''•O^O^BpniC H Suharto shows his mettle against the Dutch. EL 2 COVER Can Singapore be an auction centre? EL 1 Aircraft Schedule EL 11 Cormnodrties 17 Company News 3,4 Crypte Crossword EL 11 Futures Options 16 Interbank Fore* Rates 16 KLSC
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      13 1 PROFILE Conversations at Raffles with Robert Wahis. EL 3 Market Talk, Pg 5
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      Page 1 Advertisements Column 3
      300 1 PURSUITS Rye humour at Seah St. EL 6 Review of Regarding Henry. EL 6 Profiles of Cycle A Carriage, Hotel Properties and Malayan Credit, Pg 3 HISTORY IN TIME I^^ Planetarium Copernicus. Handmade in 18ct gold, individually numbered, sapphire crystal, water resistant to Jt m. Shockproof Lady Newton. Automatic with
      300 words
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      Page 1 Advertisements Column 4
      23 1 Nikon Tht Wbrid't Fkwat Photograph* ty*§m. PURSUITS The art of being cerebral. EL 7 e W v/ r < <rt' 0 •Mir V A>
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      Page 1 Advertisements Column 5
      28 1 FINANCE PCI: say hello to a good boy. EL 8 Heshe: worth considering. EL 9 John Major comes into Us own with polls win; Bottom Line, Back Page
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  • SINGAPORE NEWS
    • NEWS ROUNDUP
      • Article
        Suit against Swatow filed
        57 2 ACTION to wind up nine restaurants in the Swatow group began in the High Court yesterday. The move was initiated by six creditors who claim Swatow Teochew Restaurant (Pte) Ltd owes them a total of $5.86 million. The case has been adjourned to May 22 so
        57 words
      • Article
        Five new Accord members
        59 2 FIVE new members have been appointed to serve a one-year term with the Advisory Council on Community Relations in Defence (Accord). They are Ho Tat Kin, Alexander Chan Meng Wah, Cheong Chee Onn, Goh Nguen Wah, and Steven Goh. Four members have opted to stand down
        59 words
      • Article
        S'pore posting for Subic staff
        41 2 ABOUT 100 personnel from the logistics unit of Subic Naval Base, in the Philippines, will be posted to the logistics command post in Singapore, which the Americans have renamed Commander, Logistics Group Western Pacific (Comlog Westpac).
        41 words
      • Article
        Senior Minister drops libel suits
        38 2 SENIOR MINISTER Lee Kuan Yew has dropped his libel suits against the Asian Wall Street Journal (ASWJ) and the Far Eastern Economic Review (FEER) after they agreed to pay him an undisclosed sum.
        38 words
      • Article
        Yes to upgrading
        44 2 RESIDENTS in four demonstration precincts Ang Mo Kio Telok Blangah, Marine Parade and Kim Keat have voted for the Housing Development Board's upgrading programme. "Yes" votes came from about 93 per cent of the 3,500 flat owners in the four precincts.
        44 words
    • Article
      Glenn Knight case: AG drops charges against 3
      249 2 THE Attorney-General has dropped all remaining charges against three of the parties involved in the Glenn Knight ease. The three Glenn Knight's wife, Pathmavali Rengayah, 43; former banker Paul Willcmsc, 49; his wife, Susan Jacob, 44 and businessman Sng You Thiam, 51,
      249 words
    • Article
      Pharmaceutical sector's output set to double in 5 years
      350 2  -  By Tan Hua Joo THE pharmaceutical industry in Singapore is expected to double its output within the next five years, said Economic Development Board chairman Philip Yeo yesterday. Last year, the industry's output grew by more than 43 per cent to
      350 words
    • Article
      Managers to be target of this year's productivity message
      317 2  -  By Chuang Peck Ming THIS YEAR'S productivity message would be aimed at managers, the Senior Minister of State for Trade and Industry, Lim Boon Heng, said yesterday at the launch of a productivity cruise. "Unless management takes the lead and shows
      317 words
    • Article
      BG Lee to companies: Adopt a home each
      290 2 COMPANIES were urged yesterday to adopt a home each and, in so doing, show a good example to their em- ployees. I Making this call yesterday, i Deputy Prime Minister Lee Hsien Loong yesterday said i participation in fund-raising and voluntary work
      290 words
    • Article
      Centre set up to help electronics manufacturers
      244 2  -  By Ang Wan May THE first comprehensive centre in South-east Asia to help local and regional electrical and electronics manufacturers meet export regulations on electromagnetic compatibility (EMC) was opened yesterday by the Senior Minister of State for Trade and Industry, Lim Boon Heng
      244 words
    • Article, Illustration
      Design Centre opens
      146 2 A WELL-DESIGNED product is one which "talks" to consumers, especially from a crowded shop shelf, says the Trade Development Board. And with this in mind, the board hopes its $46 million Design Centre will make Singaporeans more aware of design, even in ordinary household items. To mark
      146 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      345 2 teal Vty H» Birth P«>artun »wwl O** 1 KnM 0«p«rt«_ M1 T«i mind 1 Smga Ranger CPS-2 S02 1104/0800 12.04/1600 SSX 1 M04 10.M/2300 *»*,> 1* 9» SI 1 15?* S S wSm SCHEDULED TO LOAD OH WH 12 Btm Bahaga *****2 M03 atongsde 1104/0500 Java Bersama
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    • Article
      CONTAINER SCHEDULE
      1248 2 RECEIVING OF EXPORT FCL CONTAINERS AND LCI CARGO Record Bodunf/Mance Mb Sty Voy No Etb/Btr Pwiod From To From Jfv o, lhv 12/0700 2 10/1700 11/0659 U/0900 3 U/0700 11/1159 11/1*00 AQ y**t 6A 13/0900 4 11/1200 U/U59 U/1700 1, 12/1300 i 10/1500 10/1659 10/1*0 A tohafrJq 71
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  • COMPANY NEWS 1
    • Article
      Revaluation adds $280m to F&N's balance sheet
      462 3  -  By Lee Han Shih SINGAPORE A major revaluation exercise has raised the value of Fraser Neave Ltd's River Valley land by almost 300 times, and has added $280 million to the company's already strong balance sheet. The revaluation, which took place on March
      462 words
    • Article
      Superior Metal proposes 3-for-2 rights issue
      254 3 SINGAPORE Superior Metal Printing Ltd has proposed a three-for-two rights issue to raise about $20 million to finance its expansion plans. The company announced yesterday that it plans to issue 65.63 million new rights shares with a par value of 20 cents each at
      254 words
    • Article
      Shareholders of Federal Cables deserve more
      546 3  -  Irregular shares issue unresolved but firm attractive HOCK^ By Chew Eng Han SINGAPORE Malaysia's biggest cable manufacturer Leader Universal aroused great interest when it announced its voluntary takeover offer for Federal Cables last weekend. Federal Cables shares have been suspended since 1987, when some
      546 words
    • Article, Illustration
      Teos said to have grown too big
      605 3 Takeover bid for Malayan Credit: profile of the three companies OVER the years, the Teo family, which controls Singaporebased property concern Malayan Credit Ltd, had regularly been accused of growing "too big". With interests that ranged from rice trading to property development, approval
      605 words
    • Article, Illustration
      Hotel Properties: not just hotels and properties
      581 3  -  Reports by Magdalene Ng, Dawn Tan,Sylvia Wong IN his acceptance speech for Singapore's Businessman of the Year in January, Mr Ong Beng Seng said: "I am only riding on the coat tails of Singapore's success story." The boom in the Singapore economy has
      581 words
    • Article
      Cycle & Carriage's property dreams on the verge of coming true
      544 3 Cycle Carriage's property dreams on the verge of coming true WHILE Cycle and Carriage Ltd's (C&C) property division posted the strongest growth among the group's core business last year, turnover from its newly-formed property division contributed only 3 per cent of C&C's turnover. This looks set to change in a
      544 words
    • COMPANY BRIEFS
      • Article
        Four execs of Hyundai's shipping unit arrested
        72 4 SEOUL South Korean prosecutors have arrested four executives of the Hyundai group's shipping subsidiary for allegedly evading millions of dollars in taxes, officials said yesterday. Two special advisers to Hyundai conglomerate founder and presidential contender Chung Ju Yung were also questioned. Park Se
        72 words
      • Article
        Semen Cibinong sees higher sales
        43 4 JAKARTA Leading cement producer PT Semen Cibinong expects sales will increase further this year, after a sharp rise in 1991. The company director Hashim Djojohadikusumo said Cibinong's production capacity will double to three million tonnes starting this month.
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      • Article
        Rival bid for Orion emerges
        50 4 NEW YORK A movie distribution company created only two months ago emerged on Thursday with a competing bid for troubled Orion Pictures Corp. A committee of Orion's unsecured creditors said Savoy Pictures Entertainment Co made a proposal to the committee for the reorganisation of Orion.
        50 words
      • Article
        Shanghai VW plans cheaper sedan
        39 4 BEIJING Shanghai Volkswagen, one of China's most successful joint venture carmakers, plans to market a new, cut-price version of its popular Santana sedan, in 1995, to relieve shortages in the domestic market, officials said.
        39 words
    • Article
      Lock icon German bourses to form holding company
      234 4 FT FRANKFURT Germany's regional stock exchanges on Thursday agreed to join the Frankfurt bourse to create a central stock exchange holding company. The seven exchanges, led by Dusseldorf, will set up their own company to take the 10 per cent stake offered to them
      FT  -  234 words
    • Article
      Lock icon HK sets terms for funds to invest in China shares
      387 4 Reuter, AFP HONGKONG Hongkong's Securities and Futures Commission (SFC) said it will authorise funds that invest in China's emerging market in 'B' shares. An SFC statement said funds should comply with the Code on Unit Trusts and Mutual Funds, which,
      Reuter,; AFP  -  387 words
    • Article, Illustration
      Lock icon Giordano wants more Asian outlets
      322 4 HK-based garment firm reports 87pc rise in net profit AFP HONGKONG Giordano Holdings Ltd, a leading garment firm in Hongkong, is aiming for further overseas expansion after reporting, on Thursday, an 87 per cent rise in net profit for last year. The company made a
      AFP  -  322 words
    • Article
      Lock icon Ford's top brass get smaller pay package
      206 4 Reuter DETROIT Ford Motor Co's five top executives including chairman Harold Poling accepted a smaller cash compensation package from the No 2 ranked US automaker for 1991, a year in which losses totalled US$2.3 billion (553.77 billion). Ford also said on Thursday that
      Reuter  -  206 words
    • Article
      Lock icon Huge third-quarter loss sparks 10pc fall in Digital shares
      400 4 Reuter NEW YORK Digital Equipment Corp reported a massive quarterly loss on Thursday, setting off a Wall Street selling spree that left the shares of the nation's sec-ond-biggest computer maker nearly 10 per cent lower. Hard economic times also surfaced at
      Reuter  -  400 words
    • Article
      Lock icon American Airlines slashes US fares by up to 50pc in revamp
      386 4 Reuter NEW YORK American Airlines on Thursday introduced a radically different ticket structure that will slash fares by up to 50 per cent and do away with discounts to corporations, government agencies and other groups. Other major carriers have
      Reuter  -  386 words
    • Article
      There's just no stopping the Bombay bull scaling new heights
      624 4  -  MARKET TALK By Shirish Nadkarni BOMBAY Not to be outdone by the mythical cow, which, in the nursery rhyme, jumped over the moon, the bull at the Bombay Stock Exchange (BSE) performed a similar feat during the month of March.
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      Page 4 Advertisements Column 1
      249 4 BANKING, FINANCE AND INSURANCE SUPPLEMENT 1992 A special Business Times Survey May 4,1998 The theme for this year's supplement is "Managing the Tiger which focuses on the tremendous growth achieved in recent years by Asia's banking and finance industry and the constraints faced by the region's regulators to encourage growth
      249 words
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon US Fed eases credit in the face of hesitant recovery
      560 5 Federal funds rate down by 1 /4-percentage point to 3.75 pc IHT NEW YORK The Federal Reserve Board eased credit on Thursday in the face of a hesitant United States economic recovery and nervous financial markets. Wall street rallied immediately.
      IHT  -  560 words
    • Article
      Lock icon Kuwait plans to merge three investment companies
      403 5 Reuter KUWAIT Kuwait is con- sidering the merger of three state-controlled investment companies, the first such move planned by the govern- ment to revive its troubled financial sector. t* The merger will bring to- .gether Kuwait Investment w ..Company (KIC), Kuwait Foreign Trading,
      Reuter  -  403 words
    • Article, Illustration
      Bearish outlook for greenback
      457 5 DBS Bank weekly currency review US$/DM: rising wedge pattern suggests bearish outlook The break below 1.6400 marks on April 3 provided the catalyst for a US dollar decline this week, completing a rising wedge pattern with a measuring objective of 1.5025. It reached a low of
      457 words
    • Article
      Lock icon M'sian interest rates, ringgit will rise: analysts
      407 5 MARKET Reuter KUALA LUMPUR A hefty hike in the base lending rate by Malaysia's top bank this week could spark a jump in interest rates across the board, analysts and dealers said. Such a jump could nudge the surging Malaysian ringgit to even
      Reuter  -  407 words
    • Article
      Lock icon Credit Lyonnais profits eroded by huge provisions
      237 5 Reuter PARIS French stateowned bank Credit Lyonnais said on Thursday that heavy provisions for loans which went sour lopped 15 per cent off its profits last year, but the future looked somewhat rosier. The bank posted a net attributable profit of 3.16 billion
      Reuter  -  237 words
    • SMALL CHANGE
      • Article
        ADB launches first HK$500m bond issue
        94 5 HONGKONG The Asian Development Bank (ADB) launched a HKSSOO million (*****.5 million) 8.9 per cent seven-year bond issue, its first in Hongkong dollars, arranger Wardley Capital Ltd said. The issue price for the bonds was 100.25 per cent, giving an annual yield of 9.05.
        94 words
      • Article
        Japanese bank deposits fall
        93 5 TOKYO Total outstanding deposits at Japan's 11 city banks fell 5.3 per cent in the year to March from a year earlier to 199,537 billion yen (552,494.2 billion), the Federation of Bankers Association of Japan (FBAJ) said. It was the first year-on-year fall since statistics began
        93 words
      • Article
        Canadian banks cut prime rates
        106 5 TORONTO Major Canadian banks shored up support for Canada's ailing economy and sagging stock market by trimming prime rates on Thursday, taking their cue from stability in the Canadian dollar and a United States Federal Reserve easing. The Royal Bank of Canada led the cuts
        106 words
      • Article
        Swedes buy Danish insurer
        55 5 COPENHAGEN Skandia, Sweden's leading insurance group, strengthened its position in the Nordic area on Thursday when it agreed to take over Hafnia, Denmark s second largest insurer. The deal will create a group with prenrtium income of Swedish kroner 22 billion (about Ss6 billion) and assets
        55 words
      • Article
        Chinese bank to borrow more
        101 5 BEIJING Total assets at the Investment Bank of China (IBC) hit US$l7.4 billion (5528.7 billion) by the end of 1991, making the state-run Chinese bank one of the top 500 banks in the world. IBC, established in 1981 to supervise the use of overseas loans,
        101 words
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      123 5 Full details on pages 8 A 9 In the New Paper today. Actvrtamrrmil SOTHEBYHS FOUNDED 1744 Ki 11*04 I%SI WANG XIZHI GAZING AT A GOOSE Hanging scroll; ink and colour on paper Signed Baoshi, and with three seals of the artist, Fu, Qi Ming Wei Xin, and Jia Shen Painted
      123 words
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  • THE REGION
    • NOTE BOOK
      • Article
        Suthee to be retained as Thai finance minister
        70 6 BANGKOK New Thai prime minister Suchinda Kraprayoon said he would retain respected conservative economist Suthee Singhasaneh as Thailand's finance minister. Suthee, who held the same portfolio in the government of Mr Suchinda's predecessor, has been active in the past year in pushing
        70 words
      • Article
        Indon help for palm oil refineries
        103 6 JAKARTA Indonesia will jointly build crude palm oil refineries in the major consuming countries of China and India, as well as Cyprus, the Antara news agency said here yesterday, quoting Minister of Agriculture Wardojo. He said Indonesia had projected sales of crude palm oil
        103 words
      • Article
        Check on Opec members' output
        72 6 JAKARTA Indonesia will ask the Organisation of Petroleum Exporting Countries (Opec) to check if members are reducing oil production as agreed in Geneva last February, press reports said here yesterday. The Suara Karya daily quoted Minister of Mine and Energy Ginanjar Kartasasmita as saying that
        72 words
      • Article
        Bullish on Aussie economy
        68 6 SYDNEY The governor of Australia's Reserve (central) Bank, Bemie Fraser, yesterday said the Australian economy had bottomed out although he believed business confidence was weak. "The economy has bottomed out, I think there can be no doubt about that," he told journalists here after minting the
        68 words
      • Article
        Myanmar faces EC sanctions
        92 6 ASBOURG, France The European Parliament voted on Thursday to ask the 12 members of the European Community to take sanctions against Myanmar because of its "flagrant violations of human rights". It also called on EC countries that are members of the United Nations Security Council France
        92 words
      • Article
        US urged to end Viet embargo
        76 6 HANOI A group of American Vietnam War veterans wants an end to a 28-year-old US embargo they term vindictive and destructive, dismissing as a myth rumours of US servicemen still held captive. Steven Stratford, executive director of the private Veterans Vietnam Restoration Project, said
        76 words
    • Article
      Lock icon Most S-E Asian nations unfazed by capital crunch
      820 6 M'sia looking for other sources but other countries not so worried AFP, IHT KUALA LUMPUR Malaysia is taking steps to wean itself off foreign investments, but other South-east Asian countries appear unfazed by a global capital crunch that threatens to dry up
      AFP,; IHT  -  820 words
    • Article
      Lock icon Bill on US-HK ties may become law this year
      345 6 AFP WASHINGTON A bill codifying relations between the US and Hongkong has met with little opposition from the US administration and could pass into law this year, legislators said on Thursday. The US-Hongkong Policy Act introduced last year is aimed at
      AFP  -  345 words
    • Article
      CPF plan to be re-submitted to new Thai finance minister
      438 6 BANGKOK The Comp-troller-General's Department is to re-submit to the new finance minister its plan to set up a central provident fund (CPF). Comptroller-General Chatumongkol Sonakul said a decision by the Finance Minister was urgently needed on whether the fund should
      438 words
    • Article
      Lock icon Jakarta's efforts to save clove monopoly won't solve problem, say economists
      505 6 Reuter JAKARTA Indonesia's latest attempts to prop up a collapsing and politically sensitive clove monopoly run by a son of President Suharto does nothing to get to the root of the problem and will only further hurt the farmers
      Reuter  -  505 words
    • Article
      Lock icon World Bank to form new aid group for Indonesia
      271 6 AP UPI, JAKARTA The World Bank has agreed to form a new consultative aid group for Indonesia to replace a previous donor consortium of Western countries and international agencies, which Jakarta had said was using aid to intimidate the nation. The
      AP; UPI,  -  271 words
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      Page 6 Advertisements Column 1
      254 6 Will Their Gamble Pay Off Banking, garment manufacturing, hotels... Singaporeans rp 1 rpi are fearlessly plunging into the Cambodian economy and mkimv ine r ninusbui theyfacea uneasypeace 1 UlVlllC 1 llvll primitive infrastructure and legal minefields. What peace dividend awaits them? Plus we look at hidden business opportunities in the
      254 words
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  • THE WORLD
    • Article
      Lock icon US firms scaling back capital spending plans
      795 7 Weak economic recovery behind move, says survey Reuter WASHINGTON A new survey of US capital spending plans published by the government on Thursday showed companies have been scaling back investment in the face of a weak economic recovery. The Commerce Department said spending
      Reuter  -  795 words
    • Article, Illustration
      Winding up
      64 7 MOSCOW A winding passage way for deputies to go from the Kremlin to the Hotel Russia after the end of the fourth day of the Congress of People's Deputies on I hursday. President Boris Yeltsin won a victory over his conservative critics in Russia s supreme legislature when
      64 words
    • Article
      Lock icon US Ex-Im Bank sees boom in Russian business
      339 7 Reuter WASHINGTON The US Export-Import Bank could finance more than US$2 billion (553.3 billion) in exports to the former Soviet Union over the next 12 months now that Cold War limits on its lending have been ended, chairman John Macomber said on
      Reuter  -  339 words
    • Article
      Lock icon China's economists warn against overheating economy
      436 7 Reuter BEIJING Beijing's new call for "bold economic reform" threatens to put China back on the dangerous road to the overheating and inflation that rocked it in 1989, government economists have warned. "Boldness is not a passport to blindly woo high output value," the
      Reuter  -  436 words
    • WORLD WATCH
      • Article
        Opposition secretly elects new president for Peru
        68 7 LIMA, Peru President Alberto Fujimori fired 13 Supreme Court justices and dozens of other judges linked to a main opposition party on Thursday. The opposition struck back on Thursday night: more than half of Peru's 240 congressmen met secretly and elected Vice-President Carlos
        68 words
      • Article
        Seoul rice market to stay closed
        96 7 SEOUL South Korea will maintain its ban on foreign rice and its restrictions on the imports of 14 other sensitive farm products to protect domestic agriculture, officials said yesterday. South Korea's rice market will remain tightly closed and not negotiable for tariff imposition, the
        96 words
      • Article
        Chinese trade team in Israel
        69 7 JERUSALEM A top Chinese economic delegation met Israeli leaders and businessmen during a week-long visit to the Jewish state targeted at spurring trade after the countries established diplomatic relations in January. "There will be an acceleration of commercial exchanges between Israel and China," Prime Minister
        69 words
      • Article
        Investors avoid E Europe: survey
        62 7 BRUSSELS Instability in central and eastern Europe is scaring away Western investors and leaving the region at the bottom 'of their priorities, according to a company survey released here on Thursday. Preliminary results from the survey indicate that just 11 per cent of the firms
        62 words
      • Article
        Two Chinese researchers arrested
        88 7 BEIJING Chinese security agents have arrested two researchers for selling state secrets to a foreign businessman an official newspaper said. Yang Qing and Xie Znenghong, attached to "a certain research institute" in an, unspecified location, hatched their plan last summer and bribed two other researchers to
        88 words
    • Article
      Lock icon Foreign companies evading US taxes
      467 7 Government being cheated of about USs3ob yearly, say investigators AP WASHINGTON Seventy per cent of foreign-owned companies operating in the US pay no US income tax and some appear to be cheating the government of US$3O billion (5549.5 billion) a year or more, congressional investigators
      AP  -  467 words
    • Article
      Lock icon Latin America faces reform challenge
      522 7 Bankers urge policymakers to focus on restoring growth, investment Reuter SANTO DOMINGO, Dominican Republic Latin America's slow awakening from a decade of crisis and economic stagnation suggests to policymakers that it is time to focus on restoring growth, investment and wellbeing. International bankers and delegates
      Reuter  -  522 words
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      Page 7 Advertisements Column 1
      151 7 1 j VENUES( Admission FREE!) Exhibition of Paintings and a) exhibition Callieraphv for the Restoration uan g court m/at Wall of China Ig&TZZT*- River Valley Road, Singapore Taisei Gallery invites lovers of art to an exhibition of fine works by famous artists from China and chai Building this region. 18
      151 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Shares recover but rally not likely to last long
      3077 8  -  By Kooi Cho Teng MAJOR bourses around the world rallied yesterday, regaining some of the ground lost in almost a week of declines. Singapore was no exception. The Straits Times Industrials Index rose 28.09 points, or 2.08 per cent, to close
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    2492 9 OCBC Foreign 1110 4-70 *-6.7% SPH Foreign 1260 +60 +5 0% DBS Foretgn 1220 40 3.4% SIA Foreign 1790 +40 +2.3% Keppel Cofpn 710 30 4 4% OUE 790 30 +3.9% Semb Shipyard 755 *25 +3.4% Keppel CWi 440 +24 +5.8% FELS 50* 520 +22
    2,492 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      116 9 YOUR KEY TO BETTERBUSINESS DECISIONS! I Shine is Singapore Press Holdings' inforich database financial statements highlights, graphs, la,est results ream: T. S. Uu on 740_103S. Haael Ong on 740 1771 I on Teleview, which incidentally is the most advanced and company news. crk 4 I videotex! system in the woHd.
      116 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 3
    2957 10 Samanda Hldgs 195 +17 +9.6* MISC Foreign 464 +16 36* Gentings 50* 735 +15 +2.1% M Banking 500 +14 +2.9% Esso 50* 430 +10 +2.4% Guinness 50* 336 +10 Magnum Corp 50* 366 +10 2-8% NST 326 +10 +3.2% H Leong Credit 218 +8 MAS
    2,957 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      97 10 BULU Ifs tme! Do you know that you can advertise daily in the latest state of-the-art electronic high-tech media for as low as $1000 a month! Ifs called Shine Singapore Press Holdings' infrorich database on Teleview which incidentally is the most advanced videotext system in the world. Shine contains over
      97 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Shares close higher on strong rebound in Tokyo
      4571 11 Bernama Reuter FIRMER local sentiment following a rebound in the Tokyo market yesterday sent Kuala Lumpur share prices higher across the board. The K.LSE Composite Index at the close rose 7.62 points to 571.31, the Industrial Index was 17.63 points higher at
      Bernama; Reuter  -  4,571 words
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  • STOCK EXCHANGE OF THAILAND
    • Article
      Lock icon Rebound weaker than expected
      2086 12 Reuter SHARE prices rebounded to close higher yesterday, though not as high as brokers had expected in the light of the recoveries in the Tokyo and New York markets. "Investors felt uncertain about the rebound in Tokyo and New York markets and the long weekend discouraged
      Reuter  -  2,086 words
  • JAKARTA STOCK EXCHANGE
    • Article
      Stocks down but brokers remain optimistic
      1026 12 SHARE prices slipped further yesterday but brokers remained optimistic about the revival of a market that has been in the doldrums for the past two years. The market's index fell 1.21 points to 277.96 on a turnover of 3.27 million shares in the half
      1,026 words
  • Page 12 Advertisements
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      Page 12 Advertisements Column 1
      16 12 When High-Tech Companies Jlrr-| need personnel, 111 they plug into Ty The Straits Times Vv APPOINTMENTS
      16 words
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      Page 12 Advertisements Column 2
      90 12 m FOR SUCCESSFUL MANAGEMENT OF YOUR BUSINESS Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an occasional look
      90 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Nikkei scores fifth largest points gain
      2480 13 Reuter THE KEY Nikkei Average scored its fifth biggest points gain on record yesterday. At the close, the 225-share Nikkei Average was up 1,252.51 points, or 7.55 per cent, at 17,850.66. It was a long-awaited technical rebound as massive in-dex-linked buying and bargain-hunting propelled
      Reuter  -  2,480 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Shares recoup most of last 2 days' losses
      2670 13 Reuter THE BLUE chip Hang Seng Index ended up 4 per cent to recoup most of the last two day's losses, boosted by rebounds in the Tokyo and New York markets and news of a Conservative victory in Britain's general election. "Everybody
      Reuter  -  2,670 words
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  • AUSTRALIAN STOCK EXCHANGE
    • Article
      Lock icon Shares soar on strong overseas leads
      2205 14 Reuter STOCKS closed sharply higher yesterday, helped by the reversal of losses in Tokyo, a US rate cut and the UK election result. The All Ordinaries Index soared 36.7 points to 1,582.0, regaining the ground lost this week as it nosedived in line with
      Reuter  -  2,205 words
  • REGIONAL STOCK MARKETS
    • Seoul stocks hit year's low for third time this week
      • Article
        SEOUL
        882 14 STOCKS fell to a new record low of 569.65 for this year for the third time in a week in a dull market, brokers said. The Composite Index fell 6.33 points on a moderate turnover of 19.9 million shares valued at 248.2 billion won against 18.2 million shares worth
        882 words
      • Article
        TAIPEI
        551 14 SHARE prices finished yesterday off highs made earlier in the day as solid follow-through buying failed to materialise, brokers said. The Weighted Index, which gained 65 points at one stage, ended 35.80 points higher at 4,563.85 compared with Thursday's 4,528.05. Turnover increased to NTSI6.3 billion from NTS 14.87 billion
        551 words
      • Article
        NEW ZEALAND
        289 14 THE SHARE market rebounded yesterday with overseas markets and UK election news to close substantially up for the first time in two weeks. "It would be good to think the worst is over," said CS First Boston s Ru Burke. Brokers looked positively to next week as the
        289 words
      • Article
        MANILA
        510 14 SHARE prices ended lower yesterday and appeared headed for a further slide as bargain-hunting thinned ahead of the weekend and the Easter holidays beginning next week, brokers said. The Manila Stock Exchange Composite Index slid 1.63 points to close at 1,134.83. "We expect a further weakening of the market
        510 words
      • Article
        INDICES & TURNOVER
        48 14 INDICES TURNOVER Close Apr 10 Pwio« NEW ZEALAND NZSE-40 Capital 1.387.26 1.370 40 16.86 MANILA Composite Index Turnover (million) 1.134.83 224.6 closed TAIPEI Weighted Price Index Turnover (NTS billion) 4.563.85 16.3 4.***** 14.87 35.80 1.43 SEOUL Composite Stock Index Turnover (billion won) 569.65 248.2 575.98 256.6 -6.33 -8.4
        48 words
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  • WORLD STOCK MARKETS
    • Dow surges as Fed eases monetary policy
      • Article, Illustration
        NEW YORK
        1426 15 STOCKS rebounded from a two-day sell-off on Thursday in heavy trading as the Federal Reserves' apparent easing pf monetary policy encouraged investors to shake off worries about Tokyo's further decline. The Dow Jones Industrial Average, which lost another 32.20 points on Wednesday, regained 43.61 points to 3,224.96. Volume
        1,426 words
      • Article, Illustration
        LONDON
        760 15 HOPES that the government could pull off a surprise victory in Thursday's election, fanned by latest opinion polls showing a late swing to the Conservatives, drove up share prices on Thursday. The blue-chip FTSE-100 Index, which lost 11 points on Wednesday, shot up 43.2 points to close at 2,436.4
        760 words
      • Article
        FRANKFURT
        253 15 SHARES closed on an uneven note here on Thursday with the Commerzbank Index showing a loss of 0.60 per cent to 1,969.00 points while the DAX Index was little changed at 1,720.25 points, down 0.01 per cent. Frankfurt took its tune from Wall Street which had been particularly uncertain.
        253 words
      • Article
        PARIS
        190 15 A SET of favourable company results and Wall Street's strength helped the bourse pull out of a tailspin and recover on Thursday about half of the hefty losses it suffered on panic-stricken Wednesday. But the market remained on edge. "There is continued concern about Tokyo's health," a trader said.
        190 words
      • Article
        MILAN
        184 15 A MODEST technical rally ran out of steam on Thursday and shares closed lower again, with the Milan Bourse Index sliding 0.10 per cent to a fresh 1992 low of 977. "Nobody wants to do much business until the political situation is clearer," one broker said. Short covering kept
        184 words
      • Article
        ZURICH
        297 15 SHARES recovered light early losses on Thursday to end slightly above Wednesday's close as investors shrugged off weak performances in New York and Tokyo. Dealers said Thursday's recovery was largely technical and the futures market also provided some support. The All-share SPI closed 0.2 point below Wednesday's close at
        297 words
      • Article
        STOCKHOLM
        105 15 SHARE prices closed almost one per cent down on Thursday after Wednesday's sharp declines in New York and Tokyo and in the absence of domestic market-moving factors. "It's a bit thin on the news front right now. Foreign markets are likely to continue to lead the domestic market," one
        105 words
      • Article
        TORONTO
        333 15 STOCKS quickly picked up from a flat opening after the Federal Reserve cut its funds rate target, sending the market sharply higher on Thursday, dealers said. The upturn reversed two straight days of losses in the market totalling 68.5 points. "The cavalry came over the hill at the appropriate
        333 words
      • Article
        AMSTERDAM
        141 15 SHARES ended a jumpy session lower but off their worst on Thursday. That was reached when early options-led selling suggested Amsterdam may be more susceptible to Tokyo bearishness than the market had believed, traders said. The EOE Index closed at 301.71, down 0.90 points but off the day's low
        141 words
      • Article
        BRUSSELS
        251 15 SHARES rallied late in the day on Thursday following other European markets, recovering some of their opening losses prompted by a weak performance on Tokyo and Wall Street on Wednesday, dealers said. "The market went up a little at the end in a slightly delayed reaction to the other
        251 words
      • Article
        INDICES & TURNOVER
        76 15 INDICES TURNOVER NEW YORK Dow Jones SAP 500 Turnover (million) Apr9 CIom I'm tow +A 3.224.96 3.ISI.3S +43.61 400.64 394.50 6.14 232.0 249.2 -17.2 LONDON Financial Times >0 FTSE 100 Turnover (million) 1,885.7 1,154.7 +31.0 2.436.4 2,393.2 43.2 506.2 470.1 +35.4 FRANKFURT DAX Index 1,720.25 1.720.01 +0.24 AMSTERDAM EOE Index
        76 words
      • Article
        Untitled
        307 15 Other markets in Europe, South Africa and Canada Johannesburg Apr 9 Rand INDUSTRIALS A Alpha 4150 unch AECI 955 5 AMIC 7900 200 Abercom 125 Amaprop 675 15 BAZ 1300 Barlows 5550 -t- 25 Basil Strk 20 Blyvoor 510 CG Smith ***** 200 Cnagalo 2625 125 Curfin 725 unch Edgars
        307 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Dollar ends higher against yen as sterling rallies
      1127 16 REPORTS^^^^ ASIA Tokyo: The dollar ended slightly firmer against the yen and the mark in Tokyo yesterday, supported by investors and importers buying on dips. Sterling rallied on short-covering and speculative buying with UK Conservatives set to win the general election. Sterling
      1,127 words
    • Article
      Bond fever raging in China
      441 16 BEIJING China's crudecapital markets may be about to join the 20th century in a big way, says the latest issue of The Sikkci Weekly. New securities issues this year are expected to reach 80 billion yuan (about SSIB2 million), nearly double last year's total, industry
      441 words
    • Article
      FINANCIAL FUTURES
      1364 16 SIMEX eurodollar Open High Low Sett Est Vol Act/Vol Op/lnt Jun 92 95 94 Sep 92 95.75 Dec 92 95 13 Mar 93 94.86 Jun 93 94.30 Sep 93 93.79 Dec 93 93.19 Mar 94 93.06 Jun 94 92.81 Sep 94 92.53 Dec 94 92.18 Mar 95 92.17
      1,364 words
    • Article
      INTERBANK FOREX RATES
      385 16 Cross rates Apr 10 I USS SS MS Dm Yen SFr AS NZS USS 1.6470 2.5450 1.6170 132.10 0.5656 1.4870 1.3106 1.8382 i SS 0.6072 1.5452 0.9818 80.2064 0.3434 0.9029 0.7958 1.1161 MS 0.3929 0.65 0.6354 51.9057 0.2222 0.5843 0.5150 0.7223 Dm 0.6184 1.0186 1.5739 81.69 0.3498
      385 words
    • Article
      MONEY MARKET
      536 16 Interbank rates ss an Ofc i Overnight 3 1/4 3 3/8 1-month 3 1/8 3 1/4 2-month 3 3/16 3 5/16 3-month 3 3/16 3 5/16 Overnight mode: 3-1/8 I USS BM Offer 7 days 3 15/16 4 1/16 1 1 month 3 15/16 4 1/16 2 months
      536 words
  • Page 16 Advertisements
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  • COMMODITIES
    • Article
      Lock icon E European steel expected to flood world market
      370 17 Reuter PITTSBURGH The world steel market, already facing potential disruption after talks on an international steel trade agreement collapsed last month, is also adjusting to the prospects of a flood of steel from the former Eastern Bloc. Some European steel-mak-ers and traders
      Reuter  -  370 words
    • Article
      Lock icon Gold jewellery demand in West may have hit new record
      278 17 UPI NEW YORK The World Gold Council said on Wednesday preliminary estimates showed that demand for gold for jewellery has exceeded newly mined supplies in the western world for the third consecutive year. "Gold jewellery fabrication demand appears to have
      UPI  -  278 words
    • Article
      Tin price up one sen on short-covering
      825 17 REPORTS THE PRICE of tin on the Kuala Lumpur Tin Market I edged up by one sen yesterday to M$ 14.59 a kg following some short-covering activity. Dealers said operators covered their positions in line with similar activity on the overnight London Metal
      825 words
  • Article
    PRICES
    1353 17 Rubber Apr 10 MS (M to Mm) Scents/kg Noon Close Int 1 RSS Prompt 140.50/141.50N I40.2V14I.2SN Int 1 RSS May 92 I4I.2VI4I.75 141.00/141.50 Int > RSS June 142.50/143.00 142.2VI42.75 Int 2 RSS OP 138.50/139. SON 139.00/I40.00N Int 3 RSS OP 138.00/139 OON 138.50/139.50N Int 4 RSS OP 136.00/137.00N 136.00/I37.00N
    1,353 words
  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      6 17 Innovation Technology in BT every Tuesday
      6 words
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      Page 17 Advertisements Column 2
      1203 17 BUSINESS JM_M_E_S_' Toll free Tel No 737 0Q43 'Fax Wo: 734 3806 la Ike natter of the Cesapaskea Act, Cap. 50 ami M the Matter of Tee Gee fflaf pnrr Pie Lid. (lauwporated hi Slagapnrr) Meaabers of Voteatary Winding ap. At an E*tra-Ordinary General Meeting of the member* of the
      1,203 words
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  • Article
    Asia's growth rate expected to be world's highest
    523 18  -  From Catherine Ong in HONGKONG ASIA'S economic growth will be the world's highest, at 6.5 per cent this vear and 6.7 per cent in 1993, the Asian Development Bank (ADB) says in its latest survey of the region. The Asian Development Bank
    523 words
  • Article
    Guard your assets by having honest leaders: PM Goh
    343 18 SINGAPORE Singaporeans must insist on people of integrity and calibre in the political leadership, if they do not want the value of their assets, notably HDB flats, to decline, Prime Minister Goh Chok Tong said last night. The single most important
    343 words
  • Article
    Lock icon Shenzhen Stock Exchange given more power
    252 18 Reuter HONGKONG China's State Council has authorised the Shenzhen Stock Exchange to approve listings of individual companies and to offer exchange membership to foreign brokers, an official Chinese daily said. "We have gained approval from the State Council to bring in members from foreign
    Reuter  -  252 words
  • Article
    Lock icon Indon minister's European visit to boost trade
    193 18 AFP JAKARTA Indonesian Minister of Trade Arifin Siregar will visit Spain, France and the Netherlands from April 20 to 27, the Antara news agency said yesterday. "The visit to the Netherlands will be very important, since 1 will negotiate with the Dutch Minister
    AFP  -  193 words
  • Article, Illustration
    Lock icon John Major comes into his own with polls win
    382 18 Reuter LONDON Winning the general election has given British Prime Minister John Major the chance finally to shed Margaret Thatcher's mantle and shape his own government. Mr Major is expected to reshuffle his Cabinet and restate his priorities in the wake
    Reuter  -  382 words
  • Article
    Lock icon KL setting up committee to evaluate overseas investment
    290 18 Bernama KUALA LUMPUR The Malaysian government is setting up a committee to evaluate projects eligible for tax incentives under a government scheme to boost investments overseas. Minister for International Trade and Industry Rafidah Aziz said yesterday that the committee, which would include
    Bernama  -  290 words
  • Article
    Yeltsin agrees to soften reforms
    511 18  -  From John Helmer in MOSCOW PRESIDENT Yeltsin promised yesterday to soften his reforms and step down as Prime Minister by the end of the year in a compromise with former Communists who dominate parliament. This marked a mild concession to his critics in return for
    511 words
  • Article, Illustration
    A victory by default for the Tories
    916 18  -  The Bottom Line KEVIN CLARKE KEVIN CLARKE The writer was born and educated in London. Before joining BT as a copy editor last year, he spent 14 years in Australia THE RETURN of a Conservative government in Britain for a fourth term is
    916 words
  • Page 18 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      Wanted: local buyers
      1420 19  -  Does Singapore have what it takes to be an international art centre? Jaime Ee and Susan Tsang assess its potential Jaime Ee,Susan Tsang THE CONCEPT is attrac- s tive: Singapore as a cultur- c ally vibrant city, attracting > buyers from around the s world to bid
      1,420 words
    • STRAWS IN THE WIND
      • Article
        You're not invited
        49 19 HOW do you invite someone to a function when you don't really want that person to go? One reporter found out, when she received an invitation to attend a company launch the card did not specify the name of the venue, the time, or the date.
        49 words
      • Article
        Disregarded
        56 19 WHAT do you do when you go to a food exhibition? You eat, yes? But what marred the enjoyment somewhat was a sign put up by the organisers of last week's Food and Hotel Asia Exhibition that warned: "Sample the food at your own risk". But you know Singaporeans.
        56 words
      • Article
        Pet abalones
        71 19 SOME people collect the strangest things. Matchboxes, pet rocks, you name it. But what about, err, abalones? An ad in the papers last week said it all: "liie internationally known gastronomist Yeung Koon Yat is coming to Singapore to host the Ah Yat Abalone Night. All the abalones
        71 words
      • Article
        To the unconcerned
        42 19 SPOTTED at a 7-Eleven store along River Valley Road: "To Whom It May Concern" it followed up with a warning that shoplifters would be prosecuted. Funny, you would think that shoplifters would be the last people to be concerned.
        42 words
    • OPINIONS
      • Article, Illustration
        Killing two birds with one stone
        1293 20  -  Indonesian President Suharto's response to Holland s plans to cut aid to its former colony is a clever move designed to yield more than one result, writes Yang Razali Kassim Yang Razali Kassim The writer is a senior BT correspondent IN RETALIATING against the
        1,293 words
      • Article
        Gaddafi — menace or last hope for M-E peace?
        837 20  - Gaddafi menace or last hope for M-E peace? John K Cooley feels that any action taken by the West against Libyan leader Muammar Gaddafi may be counter-productive John K Cooley The writer, an ABC news correspondent, is author of "Libyan sandstorm, the story of Gaddafi's revolution THE BUSH administration and
        837 words
      • Article
        What happened with Gold Coin?
        182 20  -  LETTERS TO THE EDITOR Alfred Wee Singapore 1232 I AM A keen follower of the stock market in Singapore and have been monitoring the massive Gold Coin Ltd reorganisation plan. To me, it is a constructive business plan for the company, it is innovative, brings
        182 words
      • Article
        When no news is not good news
        119 20  -  William Lee Singapore 0923 I AM VERY surprised and pleased to read a report in the March 31 issue of BT that Leader Universal was making a takeover offer for Federal Cables Wires, and that the latter company was doing very well. My
        119 words
      • Article
        The real price of a painting
        403 20  -  Parvathi Nayar Narayan Singapore 1024 I REFER to the article headlined "Hard sell at an art sale" and written by Ms Cheryl Liew (April 3). The article attributed this comment to me: "Narayan herself admitted that for a new artist, her works were high-priced
        403 words
      • Article
        A Singapore show
        105 20  -  Lee Kip Lee Singapore 2158 WOW! HOW exciting! The Singapore Tourist Promotion Board is going into show biz and will stage Singapore's first drag show if it succeeds, according to its spokesman, in applying for an entertainment licence for such performances in Bugis Street. Unless double standards
        105 words
      • Article
        The threat of an insular Europe
        599 20  -  S N Vasuki points out that the recent success of the far right in French and German politics may harm moves towards European integration S N Vasuki The writer is a BT journalist The establishment of a single European market (SEM) next year continues
        599 words
    • PROFILE
      • Article, Illustration
        Lock icon Hallmarks of the leader
        1888 21  -  The most important role of the boss is not to take himself too seriously, says Robert Walvis. chairman and chief executive officer of the Shell Companies in Singapore. Margaret Thomas finds out if that was spoken in jest f CONVERSATIONS RAFFLES Margaret Thomas ONCE in a
        Photo by Chris Loh  -  1,888 words
      • Article
        Yes to constructive debate
        637 21 TOO many Ferrari-driving yuppies or too many philosophers and artists in Singapore might well lead multinational corporations to think again about investing here, in Mr Walvis' view. Neither extreme would make for the kind of business environment foreign investors are looking for. "If Singapore becomes a
        637 words
      • Article
        Family first
        591 21 Robert Walvis sets his priorities MR WALVIS' priorities in life are clear: "First and foremost is my family. The second is my company, and the third is friends, both family friends and friends of the company." The three priorities do, however, overlap. "The family can only function with
        591 words
    • EPICURE
      • Article, Illustration
        Some like it hot; some sweet
        282 22 PEPPERS are delicious. Pretty to look at, they contribute to the artistry arrangement ot various food. Enjoy them raw and crisp in salads or in dips. Savour their hot and fiery flavours in Asian cooking. Scrape out the tiny, but lethal, seeds and stuff
        282 words
      • Article
        Out of Africa
        132 22 SAMPLE crayfish and chive frikkadels. Or yellow kebabs. Or marinated kingslip. Or salad of smoked venison. Or any of the Palm Grill's exotic South African dishes. At the end of dinner, hope you win a trip for two on Singapore Airlines to Johannnesburg with five nights accommmodation
        132 words
      • Article
        The rice regimen
        113 22 RICE appetizers. Rice main courses. Rice desserts. No kidding rice desserts. Cafe Palm's Rice Festival includes warm rice souffle with raspberry coulis and candied rice pudding with kiwi and cream. Starters: Hawaiian rice boat (half a pineapple filled with curried rice and shrimps); tomato rice soup (with
        113 words
      • Article
        Young and tasty
        53 22 IT'S asparagus time again at La Brasserie at Omni Marco Polo Hotel. White asparagus. Green asparagus. With lobster in an orange-tarragon sauce oroven-baked with Camembert cheese. With beef in a balsamico and fresh herb sauce. (Apr 20-May 3. Lunch and dinner) La Brasserie, Omni Marco Polo Tanglin
        53 words
    • LIFESTYLE
      • Article, Illustration
        My glass runneth over
        521 23  -  An overwhelming encounter at an extraordinary restaurant WINE By NK Yong FROM time to time, in the course of mv vineyard crawlings, 1 come across a restaurant that is exceptional. One restaurant may be memorable for its cuisine, another for its wine-list. Rarely do 1 come
        521 words
      • Article
        Beware the silent killer
        636 23  -  By Pr Michael B McCannon The writer is a Stanford University-trained doctor who is the medical director oj Insead Business-Health course, which is also offered here. He welcomes queries from readers. Write to him c/o Executive Lifestyle. Business Times, 390 Kim Seng Road. Singapore 0923. High
        636 words
      • Article, Illustration
        The perfect fit slam
        253 23  -  BRIDGE By Sybil Holloway Although the Sunday Times/The Macallan Malt International Bridge Pairs Championship 1992 was effectively over when Gabriel Chagas and Marcello Branco, the winners, met Bob Homman and Bobby Wolflf in the final round, the two "Bobbys", who had already clinched second spot, had
        253 words
    • PEOPLE
      • Article, Illustration
        A friendly good-bye
        104 23 PR GOPAL's farewell dinner at Mandarin Hotel's ballroom was something of a gathering of friends some 300 of them. The occasion was punctuated by a good-natured slime-ing session between the newly-elected president of the National Asso- ciation of Travel Agents Singapore, Robert Khoo, and his predecessor, who
        104 words
      • Article, Illustration
        A US$20m reason to celebrate
        169 23 CHEERS to the Industrial Finance Corp of Thailand, for the US$2O million (Ss33 million) term loan secured on such attractive terms. The loan was signed last Friday, witnessed by a small, cosy gathering of bankers and a lawyer at Marina Mandarin. Cheers, too. to co-arrang-ers
        169 words
    • PURSUITS 1
      • Article, Illustration
        Slow road to rediscovery
        610 24  -  Regarding Henry, with its simple, unspectacular theme, is no easy movie to make because so much hinges on the interpretative skills of the director and actors. Nirmal Ghosh on whether it succeeds Nirmal Ghosh Harrison Ford has come a long way since his gungho roles. In
        610 words
      • Article, Illustration
        Languorous lang, dull DeBarge
        684 24  -  CD Review By RINGO LIEW kd lang: Ingenue For years, she's been the classiest act in Country and Western music. Now, kd lang proves on her fifth album that class has no boundaries as her music crosses from the bar to the supper club. Ingenue is
        684 words
      • Article, Illustration
        Rye humour
        640 24  -  Jaime Ee ponders the unleavened lot of the deli sandwich Jaime Ee IF YOU were a slice of bread, there are a few career choices facing you. If you're not very ambitious, you could be content with being toasted, spread with butter and sugar and served at a
        640 words
      • Article, Illustration
        A taste of the rich and scrumptious
        597 24  -  Food-loving Cheryl Liew takes a bite out of the just-concluded Food and Hotel Asia Exhibition Cheryl Liew FOOD, glorious food. So glorious that flics from as far away as Woodlands probably got wind of the spread at the World Trade Centre and decided
        597 words
      • Article, Illustration
        Where time stands still
        660 25  -  Headhunters no longer exist in Kuching. Apart troni that consoling diUeivnce* Wntdj lu\n discoxcis how little has changed in the town that inspired writers like Maugham and onrad Wendy Chan KUCHING. Sarawak, is more than a little town that was accidentally named after a cat. With
        660 words
      • Article, Illustration
        Artistic cerebration
        762 25  -  Susan Tsang learns the art of being cerebral under the guiding brush ol teat her Paul Shea Susan Tsang V" ISI I'ORS to Paul O'Shca's art exhibition at the liiiti>h Council enter a thought-provoking, il smistei world. The works on display were painted between 19NX and W>2. and
        762 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Say hello to a good buy
        1422 26  -  With the share prices of so many good companies falling in the last few months, there is little incentive for investors to apply for PCI shares. But they may be missing out on a stock with potential, reports William Chia STOCK William Chia Electronic
        1,422 words
      • Article, Illustration
        Heshe's worth a second look
        1103 27  -  Although the offer from garment maker-cum-retailer Heshe appears expensive at 55 cents apiece, the stock merits consideration from the serious investor, writes Sangeeta Mulchand STOCK Sangeeta Mulchand At FIRST look, Heshe Holding's share offer is a pass. It is a retailrelated stock and is probably
        1,103 words
      • Article, Illustration
        Lock icon STII, Nikkei may yet slide after short-term correction
        723 27  -  CHART By Chew Eng Han THE Tokyo market dragged almost all other markets down this week, including the usually resilient New York and Hongkong bourses. Investors have perhaps come to realise that no market can perform on its own and enjoy immunity
        Source: Telerate  -  723 words
      • Article
        HK equity funds are tops: survey
        421 27  -  Shoeb Kagda reports on the findings of a Hongkong study Shoeb Kagda Hongkong equity funds, reflecting the strength of the British colony's stock market, emerged as the top-perform-ing sector over a one-year period in a recent survey. Carried out by the Hong Kong Unit
        421 words
    • SPORTS
      • SIDE LINES
        • Article
          Burillo beaten after beating Becker
          95 28 BARCELONA Jordi Burillo was a hero for eight hours, then returned to his normal place on the sidelines. Burillo, ranked 230 th in the world, became an instant celebrity on Thursday afternoon by defeating third-ranked Boris Becker at the Conde de Godo tennis tournament. The
          95 words
        • Article
          Graf leads top seeds
          91 28 AMELIA ISLAND. Florida Steffi Graf and defending champion Gabriela Sabatini led the top seeds into the quar-ter-finals of the U*****,000 (*****.000) Bausch Lomb tennis Championships on Thursday, a day of lopsided wins for the favourites. Top seed Graf claimed a 6-2 6-2 third round win over
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        • Article
          Man U, Forest without captains?
          96 28 LONDON Manchester United and Nottingham Forest look set to clash in tomorrow's League Cup final without their respective captains, Bryan Robson and Stuart Pearce. United boss Alex Ferguson is willing to keep Robson in reserve for the First Division leaders' bid for the championship. rather
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        • Article
          Rugby Board to decide
          93 28 WELLINGTON Rugby union's wise men meet behind closed doors here next week to decide whether to hand down a new set of stone tablets or announce that the old commandments remain. World rugby players will be instructed by the game's imperial administrators on how much a
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        • Article
          Edberg, Courier vie for No. 1
          93 28 TOKYO Top two seeds Stefan Edberg and Jim Courier, vying for the world number one ranking, advanced to the semifinals of the US$l.l9-million (S$ 1.96 million) Japan Open tennis championships yesterday. Courier snatched the Association of Tennis Professionals (ATP) number one ranking from Edberg
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        • Article
          Doohan takes pole position
          87 28 SYDNEY Michael Doohan of Australia sizzled around the Eastern Creek circuit yesterday to take provisional pole position for tomorrow's Australian Grand Prix 500 cc motorcycle race. Doohan piloted his Rothmans Honda around the 3.93km track in one minute 31.073 seconds, an average speed of 155.348 kph
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        Lock icon A fight filled with opportunities
        480 28 NYT LAS VEGAS, Nevada Alex Stewart sounded confident. He was ready physically and mentally. But minutes later, when he raised his arms and posed for photographers with his opponent, George Foreman, there were huge sweat stains showing through his shirt. This was at the final
        NYT  -  480 words
      • Article, Illustration
        Lock icon Wadkins birdies three in a row for lead
        987 28 The US Masters AP AUGUSTA, Georgia Out there on the far edge of the property, down in the little valley formed by Rae's Creek, is Amen Corner, the 11th, 12th and 13th holes of the Augusta National Golf Club. Together, they make
        AP  -  987 words
      • Article
        Lock icon Happy days for Tokyo Giants may soon be over
        576 28 NYT TOKYO One of Japan's most popular baseball teams of past years, the Tokyobased Yomiuri Giants, is apparently losing some of its legions of fans to other teams and other sports. It is sometimes said that Japanese baseball fans can be
        NYT  -  576 words
      • Article
        Lock icon S African speed bowler's Barbados date
        650 28 Reuter PORT OF SPAIN The most feared men in cricket are usually mean, dark and moody fast bowlers. Allan Donald is modest, fair and polite but don't be fooled. Billed by many as the speediest bowler in the world, the 25-year-old South African is
        Reuter  -  650 words
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        Gearing up for some America's Cup glory
        52 28 SAN DIEGO Italy's II Moro di Venezia and New Zealand Challenge racing for the first mark in the last day of the I/wis Yuitton Cup semi-final on Thursday. Both yachts will face each other in the finals of th* Challenge series of the
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    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1054 29 City Flight ETA Flight ETO C Abu Dhabi GA971 1035 GA976 0145 GA890 0150 AMaMa QF8 2010 QF82 2115 SQ227 2130 Amtanten SQ319 0715 SQ24 0115 KL837 1255 GA890 0150 KL838 2240 SQ342 2255 ABww 0A473 0110 QM74 2245 Auckland NZ21 1700 N222 1850 SQ286 1905
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    • THE TRAVEL PAGE
      • Article, Illustration
        Room for the English gentleman
        636 29  -  LETTER FROM BARBADOS By David Pilling THE governorgeneral of Barbados ate my duckling. The theft, if I may so damningly describe the incident, took place on my flight to Barbados when the stewardess announced that duck was fully subscribed. The governor-general sat in the row
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      • Article
        FOREIGN CURRENCY NOTE RATES
        153 29 As at 3pm yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.2534 1 273 Canadian dollar 1.3726 1.4005 NZ dollar 0.8869 0.9048 Sterling pound 2.9088 2.9483 US dollar 1.6450 1.6520 Local dollars to 100 units of foreign currency \ustnan schilling
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      • Article
        WORLD TRADE EXHIBITIONS
        45 29 STritk Venue OiBanjscr Trt Dunmon Tilte v«™« Td r 541-*****1 May 7-16 International Predio Ferial Machine Tools 541-*****3 April-May International Fair Buenos A<res. Jwrexpo 541-41 531 Exh.b.t.on on de Palermo. Argentine on Construction Argentina Sudamericana Machine Tools Buenos Aires ManufacturersMaterials Association Technology
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    • TIME OFF
      • Article
        THEATRE
        152 30 SSO Concert The Singapore Symphony Orchestra performs under the baton of guest conductor Yondani Butt, who has been resident conductor of the Victoria International Festival since 1982. Franck's Le Chasseur maudit, Sibelius' Violin Concerto and Glazunov's Raymonda: Suite from the Ballet are on the programme. Jin Li is guest
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      • Article, Illustration
        EXHIBITIONS
        283 30  -  Compiled by Yasotha M My Singapore Photo Search Exhibition Photographic exhibition with the theme "My Moments of Home". Venue: The Paragon, sth Level Lobby. On till Sunday. lOam-lOpm. Silent Hope by Nicholas Leong A photo exhibition by Nicholas Leong on Myanmar refugees. On display are some 40 black and
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    • Article, Illustration
      CINEMA
      581 30 American Kickboxer I. He's American, he kicks, he boxes, what more could any action fan want? Good acting is in short supply as John Barrett puts some life in his red bull. Cathay 2: 11; 1.30; 4; 6.45; 9.15. Bedok 1; 1; 3.30; 7; 9. Cape Fear. Martin Scorsese
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  • Page 19 Advertisements
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      Page 19 Advertisements Column 1
      156 19 EI33 1 MM i m i&pil; >IHQAEOW« FtWAMCt jj i 1 1 tli > ""i giiiiri M §1 H I 9 Shop. 390 Orchard Road. »B 1-01/02 Palais Renaissance Shopping Arcade Singapore 0923 Tel ->33?113 DPS Orchard HALLEY S ISETAN Havelock ISETAN Orchard Authorised Dokrn FJ BENJAMIN Changi Airport Thong
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  • Page 22 Advertisements
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      Page 22 Advertisements Column 1
      815 22 Mnfhing RA»hs A BIICL llflffifll where to wine, dine OP i I M—l^^——— MWU ur BBBHBt wnWHHHHI GENUINE PENANG FARE LET OUR PENANG CHEF INTRODUCE HER NEW RECEPES AT THE NEWLY RENOVATED PRINCESS TERRACE CAFE THE PLACE FOR AUTHENTIC PENANG SPECIALITIES. A RENDEZVOUS FOR FINE MEALS AT CAFE PRICES. OR
      815 words
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      Page 22 Advertisements Column 2
      327 22 A A 'i;j^m^ *"V '^SB Ej m Wmtif You'll en)oy our delicious selection ■Kl of authentic Beijing Dian Xin served amidst the splendour of an Imperial HT Court. May we expect you today? HjL/ From noon to 2.30 pm. IMi/A, ■r Ala carte menu available. fllnQr Ci//ar>dar<ri 333 Orchard Road.
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      Page 23 Advertisements Column 1
      213 23 AND ENTERTAIN Ridley's ZSBSBKIkmk Be a member of Ridley's and enjoy these I t exclusive privileges: I 25% off all bottles J 10% off all drinks after happy hours I t a 10% discount at the Hubertus Grill and I Cafe-in-the-Park and many more special privileges. I < Plus a
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  • Page 26 Advertisements
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      Page 26 Advertisements Column 1
      421 26 Heir's a golden opportunity! Fly British Airways to a golfing holiday at Sanctuary Cove on j y magnificent Gold Coast. The winners of the first four correct entries drawn will each receive: A return Club World ticket to Brisbane, Queensland on British Airways, the World's Favourite Airline. 5 days/4 nights'
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  • Page 27 Advertisements
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      Page 27 Advertisements Column 1
      92 27 EXPRESS SHARE LOAN Turn \nurl instand Get cash on the spot for your shares for 1,2 or 3 months at I%* per month. Scripless counters are also acceptable. Flat (discounted) For more information, call our toll-free numbers. Hong Leong Finance 223 0936 Singapore Finance 226 3398 ONLY FROM: I %oss&J
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  • Page 29 Advertisements
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      Page 29 Advertisements Column 1
      39 29 Discover the lengths Finnair go for just one price. A superb twice-weekly service from Singapore direct to connections to over 35 European destinations- all for one price. Call *****77 for detai Is We know Europe from «Urt to Flnm«h.
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      Page 29 Advertisements Column 2
      25 29 Difficulty in getting a copy of Her World, Go, Singapore Business, Home Decor, Young Parents 9 Call our Hotline 749-2577 for locations of nearest newsstands.
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      Page 29 Advertisements Column 3
      57 29 r Carol Cheng like, a r before <1 Conservative dresser her fans by appearing I* L X in a daring outfit at m"* Jw tfie H° n Sk° n 8 F^m A wards ceremony. 1 sfie was dressed in El J brown shorts and a long-sleeved top made of translucent
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  • Page 29 Miscellaneous
    • Miscellaneous
      Page 29 Miscellaneous Column 1
      130 29 I t hat neare^ earth (7) 25 aSp,ng an jtary officer'' (10) 23 Twist most of the crusta--26 WtafTnet !eidy ,o say ?Go -.Hou. permission ccan upwards (4) 6) «dbj* ,<ta y«. YISTEBPArS SOLUTION t is another c,„ Bjl^lPllvl ,3 n 8 2 c ady HnHB 1 carrying liner about
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    • Miscellaneous
      Page 29 Miscellaneous Column 2
      155 29 Singapore Outlook: Showers over several areas in the afternoon. Report Maximum temperature 31.9 Assoc humidity 67% Minimum temperature 24.5 Assoc humidity 91% Hours of sunshine 5.80 Rainfall in mm 2.8 Rainfall this month 123.1 Rainy days this month 6 World forecast Asia-Pacific Hi/Lo* Cond. Auckland 22/13 Cloudy Bangkok 38/27 Clear
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    • Miscellaneous
      Page 29 Miscellaneous Column 3
      19 29 SIGH.' UPc 15.... IJOOK PTThJiS IN-TR.P»V P\MD LOO< rVMS HdT coP of r ggM ASSOCIATED NCWAPOtt LTO IWHW o
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  • Page 30 Miscellaneous
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      Page 30 Miscellaneous Column 1
      1708 30 TODAY'S TV H Ti BK 600 *ews(M). ■HfnVfMH lowed by Widget. 11 1 6.30 Religious Special. [iVi I Micronauts (Stereo, ill 1 $.45 Sesat Dalam Cahaya S artoon L- to® J c Ilmu Hitam. tagJR BSflßr-.r. "SiSsa (SI 1 a Est Comedy about Somat (Ded- Oscar-winner Denzel ash an( j
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    • Miscellaneous
      Page 30 Miscellaneous Column 2
      575 30 Longarm, Mon, 10.30pm, materialistic and slightly dit--SBQ 5 sy women who take a cue loss TV mnvip ha«>d on a from Marilyn Monroe and If books by Tabor Ev- £> how to marry.million?u« '"he ma g 7 of'°he reC OW screws "P West. John Terlesky is Depu- The Fata( mag
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