The Business Times, 23 May 1992
1992-05-23
1
32
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The Business Times
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Title Section17 1992-05-23 1 Business Times TIIE BUSINESS PAPER FOR S-H ASIA MITA (P) 35/12/91 Weekend Edition, May 23-24 1992 75*17 words
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NEWS & MARKETS SUMMARY
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Article37 1992-05-23 1 THE US stock market steadied and rose slightly in early trading yesterday after the previous day's decline. The Dow Jones average of 30 industrials gained 3.18 points to 3,381.89 in the first hour of trading37 words
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Article32 1992-05-23 1 LONDON share prices were higher at midday yesterday on the London Stock Exchange. At 1100 GMT, the FTSE 100share index was up 6.4 points, or 0.2 per cent, at 2,708.4.32 words
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76 1992-05-23 1 LONDON British Trade Minister Michael Heseltine said yesterday that he would recommend a monopoly probe of Lloyds Bank's proposed bid for Britain's Midland Bank, but allowed Hongkong's HSBC to go ahead with a takeover. The ruling dealt a serious setback to Lloyds'76 words
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55 1992-05-23 1 TAIPEI Taiwan has not decided to scrap a list of economic sectors in which foreign investment is banned or restricted. Officials said yesterday that a local newspaper report on Thursday, which said Taiwan had decided to scrap the "negative list" of 391 sectors and55 words
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Article39 1992-05-23 1 SINGAPOREANS are opting out of the construction industry because they think wrongly that it means hard work, high risk and low pay. To correct this poor image, a $1.6 million campaign will soon be launched Page 239 words
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Article30 1992-05-23 1 SINGAPORE Airlines (SIA) has sent a proposal to Vietnam Airlines for joint ventures in inflight catering, cargo warehousing and ground handling in Vietnam Page 330 words
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Article, Illustration29 1992-05-23 1 Friday Change BT-MGA 707.45 -1.16 Kuala Lumpur ....592.48 -0.38 Tokyo 18,221.00 -470.29 Hongkong 5,859.68 -5.93 Sydney 1,684.5 +1.9 Thursday Change New York 3,378.71 -15.13 London 2,702.0 -9.929 words
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Article30 1992-05-23 1 London Gold AM fix US$337.20 USS-0.20 Exchange rates USS ss 1.6320 100 Yen SS 1.2583 MS SS 0.6471 Monty market rates Overnight 2 15/16% -3/16 3-month 3 1/8 -1/1630 words
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Article29 1992-05-23 1 Rubber S pore June l39.00*/kg unch Vfoia June 2l8.00*/kg -100 KL Tin Turnover nna Spot MSI5.40/kg -0.09 Crwte pah* oil Turnover 811 lots -746 July MS868 /tonne "329 words
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475 1992-05-23 1 Way clear for Gatt trade talks to end, but farmers up in arms Reuter, AFP, AP. BRUSSELS The European Community has finally agreed to a radical reform of its agriculture policy, paving the way for a possible conclusion to the long-stalled Uruguay Round ofReuter,; AFP,; AP. - 475 words
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477 1992-05-23 1 Reuter, AFP BANGKOK The militarydominated Thai government agreed yesterday to dump embattled Prime Minister Suchinda Kraprayoon, saying the blood on his hands meant he could no longer run the country. Leaders of the five coalition parties decided unanimously to support constitutional reforms that willReuter,; AFP - 477 words
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533 1992-05-23 1 Lee Han Shih - By Lee Han Shih SINGAPORE Property heavyweights DBS Land and Pidemco Land are trying to raise up to As4oo million (Ss49o million) to buy commercial properties in Australia and New Zealand. In the past week, they have sent out a few dozen invitations533 words
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Article, Illustration112 1992-05-23 1 AFP BANGKOK The Stock Exchange of Thailand (SET) index shed 20.16 points yesterday, despite a last-minute jump on bargain hunting, because of rumours that the military might stage a weekend coup, brokers said. The index closed at 718.51 points on a volume of 5.54 billionAFP; Source: Bridge Info - 112 words
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343 1992-05-23 1 Sylvia Wong - By Sylvia Wong SINGAPORE Liang Court Holdings, part of business tycoon Goh Cheng Liang's Wuthelam group, is finally launching what will be the second main-board share issue this year. Sources said the launch could be as early as343 words
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Page 1 Advertisements
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Advertisement76 1992-05-23 1 Nikon ThtWbfld'sFlnMt PhuloypNc System. Singapore.^ Aircraft Schedde EL 11 Commodities 1 Company News J* Cryptic Crossword tL J' Futures Options jo Interbank Fore* Rates J° KLSE 13 Money Changer Rates EL 11 Money Market Regional Stock Markets 16 jg; 8.9.12 ShpsmPort I Smi I" EL 10 TV4 Radn EL 1276 words
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Advertisement45 1992-05-23 1 OPINIONS Grappling with democracy EL 2 Neighbours will benefit from Thai losses: analysts; HK bankers, investors say disruptions short-term; Fears grow that death toll could hit 1,000, Back Page Grappling with democracy, EL 2 Thai stocks: cool for now, but not turned off, EL 845 words
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Advertisement9 1992-05-23 1 VIEWPOINT Conversations at Raffles with Hugh Norton. EL 39 words
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Advertisement313 1992-05-23 1 PURSUITS Reviews of My Girl The Mambo Kings. EL 6 One of the great designs of this century AND PROBABLY THE NEXT. 4 iSlB uith ultra thin quartz movement water-resistant to 5 atm 8A56J75 789 The Royal Oak is instantly Decisive, individual, agerecognized by its unique f less. One of313 words
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Advertisement21 1992-05-23 1 Nikon Tt»Wbrid*snnMt Photographic Syrtem. PURSUITS Not just for lads. EL 7 r Li M Non-EC nations give cautious response, Back Pg21 words
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Advertisement15 1992-05-23 1 FINANCE Whither the Thai stock market? EL 8 GRP: the going looks good. EL 915 words
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PAGE 2 NEWS
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Article, Illustration488 1992-05-23 2 Sylvia Wong - CIDB launching $1.6 m campaign to correct poor image By Sylvia Wong SINGAPORE Singaporeans are opting out of the construction industry because they think wrongly that it frreans hard work, high risk and low pay. To correct this 'poor488 words
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605 1992-05-23 2 Quak Hiang Whai - By Quak Hiang Whai SINGAPORE An Australian businessman at the centre of a "test case" court proceeding involving a time-sharing marketing scheme has jumped bail and gone into hiding in Australia. A district court heard on Monday that Maxwell Mohr,605 words
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241 1992-05-23 2 Dexter Lee - By Dexter Lee SINGAPORE Singapore Telecommunications Pte Ltd is ready to invest US$3.3 million (555.3 million) in a stake in a joint venture to operate a cellular mobile phone network in Batam, Indonesia. Its partners in the joint venture will be PT241 words
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258 1992-05-23 2 SINGAPORE Esso Singapore's refinery should aim to capitalise on the rapidlygrowing markets in Asia, said Kwa Chong Seng, the company's managing director-desig-nate, yesterday. Speaking to reporters after a ceremony to celebrate Esso's high safety record at the Pulau Ayer Chawan refinery, Mr Kwa258 words
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448 1992-05-23 2 Juliette Walker - By Juliette Walker SINGAPORE The local marine industry, which posted a record turnover of $3.13 billion last year, will continue to be cushioned from the effects of an expected downturn in the industry. Tan Mong Seng, the president of the Association of Singapore Marine Industries448 words
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350 1992-05-23 2 Anna Teo - Institutions to have management accounting systems By Anna Teo SINGAPORE Polytechnics are to be given greater operating autonomy, starting with the introduction of management accounting systems in each institution, next year. Senior Minister of State for Education Tay Eng Soon announced yesterday that the350 words
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Article, Illustration283 1992-05-23 2 Claire Leow - By Claire Leow SINGAPORE Singapore's manufacturers are not expecting an improvement in their sector of the economy soon. At their annual general meeting last night, members of the Singapore Manufacturers' Association said they had nothing to shout about, unlike financial analysts who have283 words
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163 1992-05-23 2 SINGAPORE Oil major British Petroleum has taken up eight floors of United Overseas Bank's new 25-sto-rey building along Alexandra Road. As anchor tenant, BP has been granted naming rights for the building and has called it BP Tower. A BP spokesman163 words
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Page 2 Advertisements
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Advertisement51 1992-05-23 2 H# VE ARE MOVING TO 21 COLLYER QUAY #14-01 >NG KONG BANK BUILDING SINGAPORE 0104 ON 23 MAY 1992. Our T»Uphoo» Fox Nwnbtn Remain Unchanged lei: 224 9333 Fax: 225 4821 EDERAL INSURANCE COMPANY »rporsted m the U S A with Limited LiabtMy) iembe» o» the Chubb Group ol Insurance51 words
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COMPANY NEWS 1
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397 1992-05-23 3 Sangeeta Mulchand - Proposal covers inflight catering, ground handling By Sangeeta Mulchand SINGAPORE Singapore Airlines (SIA) has sent a proposal to Vietnam Airlines for joint ventures in inflight catering, cargo warehousing and ground handling in Vietnam. The comprehensive proposal is believed to include layout and397 words
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Article, Illustration278 1992-05-23 3 Sylvia Wong - 30 firms under L&M to be streamlined into core areas By Sylvia Wong SINGAPORE Albert Hong, the new chairman of L&M Group Investments Ltd, has started a restructuring of the company barely a month after taking over the helm from L&M founder and ex-chairman Paul278 words
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243 1992-05-23 3 SINGAPORE Semba- s wang Engineering Pte Ltd t has just completed a multi- million dollar gas compres- < sion platform for Brunei < Shell Petroleum Sdn Bhd. c The platform, called the AMCA-9, will be used to build up sufficient pressure j243 words
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359 1992-05-23 3 Maggie Ford - From Maggie Ford in JAKARTA PT UNILEVER Indonesia, the locally-listed arm of the international consumer products company, recorded steady growth in both sales and net profit last year. In a market where consumers are increasingly able to afford to buy such products359 words
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434 1992-05-23 3 Catherine Ong - From Catherine Ong in HONGKONG CREDIT Lyonnais Securities Asia (CLSA) yesterday launched the first all-China share index amid buoyant trading in the Shenzhen and Shanghai stock exchanges. The CLSA All China Index tracks all 36 A and B shares on the two exchanges daily.434 words
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538 1992-05-23 3 Dexter Lee - By Dexter Lee SINGAPORE Just as Singapore Airlines seemed ready to take off on its recovery from the debilitating effects of the Gulf crisis last year, the carrier was hit by a series of fare wars which has eaten deeply into its margins.538 words
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264 1992-05-23 3 Sylvia Wong - By Sylvia Wong SINGAPORE Cycle Carriage Ltd (CCL) said it does not have any plans at the moment to strip Malayan Credit Ltd's assets or to retrench any of its employees. It also currently has no plans to change the nature of264 words
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COMPANY BRIEFS
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Article86 1992-05-23 3 SINGAPORE Malayan United Industries Bhd has moved to strengthen the management of Innovest Bhd and its associate KFC Holdings (Malaysia) Bhd by putting its people in key positions at the two companies. It appointed Ng Kwan Cheong chief operating officer and member of the board 0186 words
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Article58 1992-05-23 3 KUALA LUMPUR A MS3OO million (SSI94 million) recreational project will be undertaken jointly by the Permodalan Negeri Selangor Bhd and Australia's First Revenue Company Ltd in Sungai Sembilang, Selangor. The project, comprising hotels, chalets and other recreational facilities, would be built on a 40-hectare site of which58 words
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Article80 1992-05-23 3 KUALA LUMPUR Palmco Holdings Bhd and its whollyowned subsidiary, Palmco Bina Sdn Bhd, have proposed to sell 51 per cent of Palmco Mark Hot Construction Services to Mega First Corporation Bhd. Palmco Holdings said yesterday that the proposed shareholding rationalisation exercise woul4 involve the disposal80 words
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Article76 1992-05-23 3 SINGAPORE Singapore Computer Systems Ltd (SCS) has combined with five other organisations IBM Singapore Pte Ltd, EDB Ventures Pte Ltd, ISS Coiporation Pte Ltd, National Computer Board and CSA Holdings Ltd to set up a joint venture company, SingaLab Pte Ltd, which is capitalised at $576 words
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Article73 1992-05-23 3 KUALA LUMPUR Uniphoenix Corporation Bhd, which reported an improved set of results for the year just ended, has proposed a rights issue to raise M$ 147.54 million. It also announced that group turnover more than doubled last year to MS 109.76 million from M 552.52 million in73 words
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Article42 1992-05-23 3 KUALA LUMPUR Chin Teck Plantations Bhd posted a pre-tax profit of M 56.95 million for the six months ended Feb 29, up from M 5318,000 a year earlier. An interim dividend of 5 per cent was declared.42 words
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115 1992-05-23 3 SINGAPORE As widely speculated, former cabinet minister Howe Yoon Chong will take over the helm at Great Eastern Life Assurance Company Ltd from Tan Chin Tuan, who officially stepped down on May 21. Mr Howe, 68, was appointed to the GE115 words
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COMPANY BRIEFS
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68 1992-05-23 4 TOKYO Japan s Mitsubishi Heavy Industries Ltd yesterday said its eonsolidated pre-tax earnings grew 5.5 per eent from a year earlier to 176 billion yen (SS2.I billion) in the yCar to Mareh. The company the leading Japanese force in shipbuilding, nuclear power plants, aerospace68 words
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Article59 1992-05-23 4 TOKYO Electronics giant Victor Co of Japan (JVC) yesterday said its consolidated pre-tax profit tumbled 73.3 per cent from a year earlier to 7.02 billion yen in the year to March. The company, Japan's biggest manufacturer of video cassette recorders, said group sales dropped 9 per59 words
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Article71 1992-05-23 4 TOfcYO The former chairman of Recruit Co Ltd, the Japanese company at the centre ot a bribery scandal which brought down the government of Noboru Takeshita in 1989, vesterday said he was selling his stake in the company. Daiei inc, which operates Japan's biggest supermarket chain,71 words
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Article65 1992-05-23 4 TOKYO Japan's Ricoh Co Ltd yesterday said its consolidated pre-tax profit slumped 71.8 per cent from a year earlier to 10.6 billion yen in the year to March due to falling exports. The company, a major manufacturer of office-related equipment and a leading maker of photocopiers,65 words
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Article74 1992-05-23 4 TOKYO Japan's top cosmetic company Shiseido Co Ltd yesterday said its consolidated pre-tax profit in the year to March 31 inched up 0.6 per cent from a year earlier to 40.6 billion yen. Sales grew 7 per cent to 553 billion yen, said Shiseido, one of74 words
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462 1992-05-23 4 AFP MANILA The Philippines plans to privatise 51 per cent government-run dutyfree shopping network sometime after June 9. The Department of Tourism said in a statement yesterday that the government hopes to make about one billion pesos (Ss63 million) through the privatisationAFP - 462 words
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332 1992-05-23 4 First attempt to sell state-owned enterprise overseas Reuter TAIPEI Taiwan on Thursday launched its first overseas share sale in a state corporation in a bid to sell the island's largest steel mill to investors in the United States, Japan. Europe and otherReuter - 332 words
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295 1992-05-23 4 Investors limited to Bpc holdings in the two companies Reuter SEOUL South Korea's Finance Ministry said yesterday that it would allow foreign investors to invest directly in Pohang Iron and Steel Co (Posco) and Korea Electric Power Corp (Kepco) from the secondReuter - 295 words
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Article, Illustration277 1992-05-23 4 Reuter SYDNEY Polo-plaving tycoon Kerry Packer has kept his crown as Australia's richest man, with an estimated net worth of A 52.7 billion (553.3 billion), according to a list of the country's wealthiest people. But Mr Packer, 54, who survived a heart attackReuter - 277 words
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275 1992-05-23 4 Reuter SYDNEY Rossington Pty Ltd, jointly owned by Sir Ron Brierley's GPG pic and Brierley Investments Ltd. won control of Australian Consolidated Investments Ltd (ACIL) yesterday after Westpac Banking Corp Ltd sold a 43.2 per cent stake for A 559.98 millionReuter - 275 words
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407 1992-05-23 4 FT TORONTO Olympia and York has offered its creditors financial safeguards aimed at thwarting their efforts to unravel the court order which has frozen the troubled developer's Canadian debt obligations. An O&Y lawyer urged an Ontario court on Thursday not toFT - 407 words
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Page 3 Advertisements
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Advertisement32 1992-05-23 3 EXPOSED CULTURE VULTURE LOVER IN MOTION J m r #IjT I mt^M I i|HH- IWl i' THE DEBUT ALBUM FULL OF ASIAN ZEST Includes DEWI, LOST IN THE WIND MB? ANAK KU32 words
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Page 4 Advertisements
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Advertisement371 1992-05-23 4 mvfPPJP^ J L T Relevant industry experience HP 1 V J I W Access to Export South East Asia I A 1 A T 1 5. Project development experience Expressions or interest should se addressed Secretary, Industry Development and Marketing Department of Industries and Development have identified Department of Industries371 words
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FINANCIAL NEWS
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398 1992-05-23 5 FT LONDON Standard Chartered yesterday warned that losses stemming from its involvement in India's worst financial scandal could reach £100 million (Ss29o million). Malcolm Williamson. Standard's managing director, said the bank was carrying out a review of its management procedures inFT - 398 words
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Article, Illustration330 1992-05-23 5 Reuter MUNICH Deutsche Bank AG, Germany's largest commercial bank, said group operating profit climbed 10 per cent in the first four months of 1992 and it expects profits to remain high for the full year. The bank's chief executive Hilmar Kopper told the annualReuter - 330 words
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351 1992-05-23 5 Reuter TOKYO Nippon Credit Bank Ltd has agreed to support its three troubled nonbank financial affiliates over a three-year period. A spokesman for Nippon Credit said yesterday that the restructuring calls for Nippon Credit to exempt interest on loans extended to the threeReuter - 351 words
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Article, Illustration602 1992-05-23 5 DBS Bank weekly currency review USD/DMK: Not the end of the bear trend yet Bears continued to dominate trading in the early part of the week as the US dollar resumed its descent, breaching its support at 1.6045 marks to reach a low of602 words
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374 1992-05-23 5 Quak Hiang Whai - By Quak Hiang Whai SINGAPORE UK-based General Accident pic. whose losses narrowed in the first quarter, expects to be profitable again by the third quarter of 1993, a senior GA official told BT. Rex Parker, managing director of General Accident Pacific, said strategic374 words
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SMALL CHANGE
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72 1992-05-23 5 NEW YORK Morgan Stanley Group Inc. parent of the Wall Street firm, on Thursday reported profits of U*****.1, million in its first fiscal quarter, which ended April 30. The quarterly report was the first by Morgan Stanley since it changed its fiscal year to72 words
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72 1992-05-23 5 JAKARTA Bank Danamon's controlling shareholder Usman Admadjaja has confirmed being approached by Edwin' Soeryadjaya about an acquisition of the Soeryadjaya family'sshares in PT Astra International. Astra's management held a press conference on Wednesday to respond to speculation' that the Soeryadjaya family might sell part of72 words
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Article79 1992-05-23 5 NEW YORK Kazakhstan President Nursultan Nazarbayev signed an agreement with Rothschild Inc for aid in the development of precious metals and other natural resources: in the former Soviet republic. Rothschild president RobertPirie said he believed the agreement, which also calls Rothschild to assist Kazakhstan in the79 words
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83 1992-05-23 5 SINGAPORE National Bank of Kuwait SAK has reported a combined net profit of US$l56 million for 1990 and 1991, against USSI 17 million in 1989. Shareholders' equity for the', group totalled US$l,Ol5 billion at the end of last year. Tne results, NKB said in a83 words
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Article28 1992-05-23 5 CLEVELAND President Bush has chosen James Gillerdn, head of the California State Banking Department, to become comptroller of the currency, the White House said.28 words
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257 1992-05-23 5 Reuter NEW YORK General Electric Co could still sell its brokerage subsidiary. Kidder Peabody Co. even though merger talks with Wall Street rival Smith Barney. Harris Upham Co have broken down, analysts say. Smith Barney, the brokerage owned by Primerica Corp, on ThursdayReuter - 257 words
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Page 5 Advertisements
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Advertisement194 1992-05-23 5 PERSONAL INVESTING FINANCE SUPPLEMENT '98 A Special Business Times Survey July 83,1992 Bank deposit rates have plunged to one of their lowest levels. Banks and finance companies in Singapore are paying peanuts for such deposits; in some cases they are not even enough to cover the rising cost of living.194 words
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THE REGION
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NOTE BOOK
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119 1992-05-23 6 SYDNEY Many Australians believe Indonesia is the nation most likely to pose a military threat to their country and that their armed forces are not able to defend them. Results of a national poll published in Ihe Australian newspaper yesterday showed that of119 words
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Article73 1992-05-23 6 SUVA, Fiji Fiji goes to the polls today for the first time since the military ousted the government of Timoci Bavadra five vears ago. With voting on Fiji s 120 scattered islands scheduled to take eight days to complete, a result will not be known before73 words
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Article67 1992-05-23 6 MANILA The Asian Development Bank has approved a U*****,000 (*****,000) technieal assistance grant to Thailand to examine the rehabilitation and expansion needs of water supply in small towns. The Manila-based bank said on Thursday that the grant is aimed at preparing a project costing US$lOO million67 words
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Article, Illustration295 1992-05-23 6 Reuter HONGKONG China yes- Wrday effectively ruled out any move to speed up demo- > cratic reforms in Hongkong, only hours after Britain said ■the issue would be top of the i agenda for new governor Chris Patten. Lu Ping,Reuter - 295 words
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487 1992-05-23 6 Harish Mehta - Revision after explorers protest against high taxes By Harish Mehta SINGAPORE Vietnam has authored a new draft petroleum law which offers foreign oil explorers better terms than an earlier draft law. These improvements are contained in the revised oil law which was completed last487 words
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Article, Illustration562 1992-05-23 6 Reuter KHABAROVSK. Russia Russia's far eastern industrial heartland is hoping to rear a cub to challenge Asia's "economic tigers", gain control of the region's rich supplies of oil and gas, and move into world markets. Khabarovsk is more reminiscent of a villageReuter - 562 words
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244 1992-05-23 6 AP WASHINGTON Thailand, Indonesia and Malaysia were singled out on Thursday by an affiliate of the World Bank as likely places for private investment in improving the environment. The International Finance Corporation, owned by 146 governments, makes loans to private companiesAP - 244 words
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SHIPS IN PORT
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Article621 1992-05-23 6 Vessd Vay Ho Berth fctwal Pepartae Vessel Voy Wo Berth »md Ptparttye M inl ,i Sri N Hua 3 992 P04 2305/0700 2305/2300 Batam Baru B149 M05 .longs* 22 05/2300 Superior Gl 07/92 P04 2305/0700 23 05/1930 Batam Sayang *****2 M04 alongsde 2205/2300 Susanna 5/92 P07 23621 words
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Article1698 1992-05-23 6 RECEIVING OF EXPORT FCL CONTAINERS *NP LCL CARGO Record Booking/Balance Rslts Slip Voy No Etb/Btr Period From To From A| Miqab C9203E 23/0200 2 21/1/00 22/0659 22/0900 3 22/0700 22/1159 22/1400 AH, 04/132 24/2359 2 21/1700 22/0659 22/0900 3 22/0/00 22/1159 22/1400 4 22/1200 22/1459 22/1700 Anders Ms1,698 words
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THE WORLD
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439 1992-05-23 7 Int'l Institute of Strategic Studies Report AFP LONDON East Asia is on the brink of a period of "major strategic changes", while central Asia enters a "period of turbulence", the International Institute of Strategic Studies (1ISS) says in its 1991-1992 StrategicAFP - 439 words
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434 1992-05-23 7 AP LONDON The Los Angeles riots will reinforce increasing US isolationism and America will refuse to be the world's policeman. The International Institute of Strategic Studies said on Thursday that American voters appeared "to care little about foreign policy, expect when it impinged onAP - 434 words
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Article, Illustration296 1992-05-23 7 AFP WASHINGTON The Senate approved on Thursday emergency legislation to aid US cities by creating jobs and improving education, and to provide funds to help riot-torn Los Angeles with its recovery. Critics of the Bill, adopted in a 61-to-36AFP - 296 words
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Article, Illustration707 1992-05-23 7 When Dan Quayle suggested that Murphy Brown symbolised loose morals, the US press, politicians and just plain folks ganged up on him for again putting his foot squarely in his mouth Reuter NEW YORK Who's Dan Quayle going to go after next the Joker inReuter - 707 words
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276 1992-05-23 7 Reuter LONDON Capital spending by Britain's manufacturers fell for the eighth successive quarter, official figures showed on Thursday, and economists said it was likely to continue edging down, slowing recovery. "The consumer upturn looks as if it's beginning, although it's still veryReuter - 276 words
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WORLD WATCH
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93 1992-05-23 7 LONDON Britain's Conservative government easily won parliamentary approval to ratify the Maastricht Treaty on European Union on Thursday, resisting pressure from party rebels who fear an erosion of national sovereignty. The 651seat Parliament passed by 336-92 votes a Bill giving the government the right93 words
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Article90 1992-05-23 7 MOSCOW The Russian government plans to lower taxfcs by the end of this year as it shifts the focus of its policies from financial stabilisation to boosting production, a senior government official said. "There is a general understanding in the government that taxes primarily the90 words
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Article95 1992-05-23 7 NASSAU, Bahamas The US will favour free trade deals with groups of Western Hemisphere nations rather than with single countries, a senior US trade official said. The Assistant US Trade Representative *> r Latin America, the Caribbean and Africa, Myles Frechette, told Western Hemisphere95 words
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Article101 1992-05-23 7 BEIJING China acknowledged yesterday that it hid conducted an underground nuclear test, but rejected US criticism of the massive blast. "China did conduct an underground nuclear test recently," the New China News Agency quoted a foreign ministry spokesman as saying in answer to reporters' questions. The101 words
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Article73 1992-05-23 7 BRUSSELS Nato members have agreed in principle to support peace-keeping missions in Europe ordered by the Conference on Security and Cooperation in Europe (CSCE), the organisation's general secretary Manfred Woerner said on Thursday. "We are prepared to support the CSCE, in such missions within our73 words
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379 1992-05-23 7 Reuter WASHING lON The Japanese semiconductor industry has said that a pact aimed at boosting the market share of US microchip manufacturers in Japan is working, despite US claims that the agreement is near collapse. The Electronics Industry Association of Japan on Thursday "leasedReuter - 379 words
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Page 7 Advertisements
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Advertisement429 1992-05-23 7 \cTp/ SING INVESTMENTS FINANCE LIMITED A H (Incorporated In the Republic of Singapore) NOTICE OF MEETING To All Shareholders NOTICE IS HEREBY GIVEN that the Annual General Meeting of Sing Investments Finance Limited will be held at 96 SIF Building, Singapore 0106, on Saturday, 13 June 1992 at 12 noon429 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration962 1992-05-23 8 Joseph Rajendran - By Joseph Rajendran INVESTORS yesterday focused their attention on a few situational stocks like Singapore Airlines and the Big Four banks, with prices of other shares changing very little in a relatively quiet trading session. "Overseas markets did not provide leads and there962 words
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Article, Illustration66 1992-05-23 8 Quak Hiang Whai - By Quak Hiang Whai Comment TAN CHONG has been consolidating in the $1.75-to-$1.90 range for six weeks. If it breaks below $1.75, it could fall towards longer-term support of $1.50, a bargain level. The fiveday and 20-day moving averages seem bearish, but the stock could rebound to $1.90SOURCE: BRIDGE INFO - 66 words
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Article2431 1992-05-23 8 Gr's Gr's 1992 Tel Cun- Last Vol Day Last Quote Di* Di* YTd Net M C ap High Low Code Company Traded Sale +or- (*000) High Low Buyer Seller CVr P/E Siml INDUSTRIAL AND COMMERCIAL 220 170 1000 Acma 182 cd +1 23 182 182 182 183 12.2 2.1 6.72,431 words
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Article2970 1992-05-23 9 GE Life I960 +40 +2.1% UOB Foreign Rts 162 +15 +10.2% UOB Rts 155 +14 9.9% DBS 1140 +10 +0.9% Jurong Ship 50« 1010 +10 +1.0% OUB 476 +10 +2.1% SPH Foreign 1310 +10 +08% Cerebos 25* 283 +6 +2.2% Alliance Tech 85 5 +6.2%2,970 words
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Page 9 Advertisements
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Advertisement10 1992-05-23 9 tuilTlCiSas A MONTHLY MAGAZINE OF BUSINESS TRENDS AVAILABLE AT NEWSSTANDS10 words
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Page 10 Advertisements
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Advertisement387 1992-05-23 10 a y A L V ///y (Congratulations to Sembawang Engineering Pte Ltd on the successful completion of the AMCA-9 complete f-* Gas Compression Platform for Brunei Shell Petroleum R f Company Sendirian Berhad. Ay Over the past 20 years, Sembawang Engineering, a member of the Sembawang I A Group of387 words
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Page 11 Advertisements
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Advertisement310 1992-05-23 11 M v yfyf M I M J -i J rx da. /jj&L i t JrJf oJao'^xo. J W f *IB J J 11 »oo«s /f/ n f <4r nB jjJ i ar f Jf 4BF jk /i fjm J !i i «i/# Y Jf IM X. V I Iv' JUw310 words
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Article2988 1992-05-23 12 H I cung Credit 233 +22 10.4% Magnum t'orp 50* 372 6 1.6% longkah Hldgs III) 6 +5.8% Amah Hldgs 50* 124 M +3.3% tianda Hldgs 90 +4 +4.7% (iuinncvs 50 1 338 +4 +1.2% (icorgc kcnt 50* 165 +2 +1.2% Sinn.- Daih\ 50 2522,988 words
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Page 12 Advertisements
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Advertisement110 1992-05-23 12 fOur coming special feature pays tribute to ITALY in conjunction with L its National Day. Readers will get to J know more about Italy's economy, its quality products and its people. r 1 V For the marketer, this is a great opportunity to promote your products I or services. For110 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration1065 1992-05-23 13 Bernama INDEX-LINKED industrial counters attracted bargainhunting interest but the absence of fresh leads took overall share prices to an easier closing in Kuala Lumpur yesterday. The KLSE Composite Index at the close eased 0.38 point to 592.48 and the allshare Emas IndexBernama - 1,065 words
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Article4026 1992-05-23 13 1992 I-ast Vol Day Net Cap High Low Tetrode Company Sale "000 High Low P/E Smil INDUSTRIALS 221 165 7003 AISB 50* 183 2 172 188 181 16.3 187.7 414 314 7004 ASM 50* 318 -2 170 320 316 16.7 1307.6 650 530 7000 Acidchem 605 unch 10 605 6004,026 words
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STOCK EXCHANGE OF THAILAND
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Article, Illustration1799 1992-05-23 14 AFP THE Stock Exchange of Thailand Index shed 20.16 I points (2.7 per cent) yesterday, despite a last-minute jump on bargain hunting, because of rumours the military might stage a weekend coup. The SET Index closed at 718.51 points, while volume totalledAFP; Source: Bridge Info - 1,799 words
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JAKARTA STOCK EXCHANGE
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Article, Illustration1193 1992-05-23 14 Reuter JAKARTA share prices end- ed little changed in yesterday's half day of trading, with the index 0.83 point lever at 295.47. Trading was slow and turnover fell to 4.16 million shares from Thursday's 8.57 ,^-ijiillion. Cr- On the scoreboard (based T onReuter; Source: Bridge Info - 1,193 words
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Page 14 Advertisements
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Advertisement16 1992-05-23 14 Find out how sellers are reaching out to buyers in Advertising Marketing. Every Thursday in BT.16 words
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Advertisement95 1992-05-23 14 I Page prices provided Dv tei-e^ate n 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 the95 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2606 1992-05-23 15 Reuter TOKYO STOCKS closed sharply weaker but oIT their day's lows. The market, braced for bad news when the Ministry of Finance (MOF) announced a violation of securities regulations, sighed with relief after the complaint was filed against an unlisted rice-cracker maker. TheReuter - 2,606 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration2895 1992-05-23 15 Reuter HONGKONG share prices finished slightly lower on preweekend profit-taking yesterday after surging almost 50 points shortly after the opening on European institutional buying. "There's profit-taking, but it's the usual Friday stutl with traders squaring ofT positions," said a broker at a European securities firm.Reuter - 2,895 words
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AUSTRALIAN STOCK EXCHANGE
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Article, Illustration2118 1992-05-23 16 Reuter AUSTRALIAN shares yesterday edged up to elose at a six-month high in an otherwise featureless day. The tone was positive. The market opened lower in thin trading but pieked up impetus in the afternoon with good volumes in eertain key stoeks.Reuter; Source: Bridge Info - 2,118 words
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REGIONAL STOCK MARKETS
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Manila shares move closer to record high
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Article593 1992-05-23 16 MANILA share prices yesterday climbed further towards their all-time high on rising confidence that the market's favourite presidential candidate, Fidel Ramos, was only inches away from victory in the elections. Sellers reacted mildly to a govern-ment-backed poll organisation's suspicions about possible fraud and calls for investigation, but the selling593 words
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Article713 1992-05-23 16 SHARE PRICES on the Korea Stock Exchange snapped a three-day losing streak and jumped in active trading yesterday. The composite index of the ex- change, which dropped 6.08 points on Thursday, gained 9.05 points to finish at 582.88. Declines, however, led advances 440 to 335 among the 824 issues713 words
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Article475 1992-05-23 16 AFTER wavering unsteadily in early trading, the Taiwan stock index closed moderately higher on a late round of buying focused on the banking sector. The weighted index rose 60.27 points or 1.3 per cent to end at 4,623.94. Turnover was NT532.33 billion against NT535.83 billion on Thursday. Brokers said475 words
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Article360 1992-05-23 16 STRONG performances from exportoriented second-liners pushed the New Zealand bourse slightly higher at the close yesterday while leading stocks consolidated. Agreement on EC agricultural reform had given a glimmer of hope for Gatt success, boosting the agricultural based second-liners in particular. The NZSE-40 capital index closed 4.68 points360 words
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Article51 1992-05-23 16 Close Pwio« May 22 NEW ZEALAND NZSE-40 Capital 1,551.77 1.547.09 +4.68 MftHII ft Compos.te Index 1.379.69 1.376.80 +2JJ9 Turnover (mil pesos) 202.9 337.7 -134.8 TAIPEI Weighted Price Index 4.623.94 4.563 67 60 -7 Turnover (NTS billion) 32.33 35.83 -3.50 SEOUL Composite Stock Index 582.88 573.83 Turnover (billion won) 285.7 344.551 words
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Page 16 Advertisements
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Advertisement5 1992-05-23 16 P.ipe prices provided by TELERATE5 words
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WORLD STOCK MARKETS
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Wall Street stocks slip as rate cut hopes fade
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Article, Illustration1195 1992-05-23 17 US STOCKS ended with moderate losses on Thursday as investors took profits on a growing view that the Federal Reserve was not likely to trim interest rates soon. "Most of the market woke up to the fact that the Fed is not going to ease," said Robert Walberg,1,195 words
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Article, Illustration1021 1992-05-23 17 THE FTSE 100 index closed down on Thursday as early losses on Wall Street and a decline in the FTSE futures market hit sentiment. The FTSE 100 finished 9.9 points lower at 2,702.0 after sinking below the key 2,700 level earlier to touch a low of 2,697.8. The June1,021 words
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Article215 1992-05-23 17 THE Frankfurt stock market consolidated on Thursday at around its highest level of the year, operators said, as the indicators gave mixed readings. The DAX spot trend index closed at 1,785.48 points, off a mere 2.02 points on the day, while the Commerzbank indicator tacked on 4.90 points to215 words
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Article184 1992-05-23 17 DUTCH shares settled at mixed to fir- mer levels at yesterday's inidsession. An early flurry had subsided and players thoughts turned to watersport. "We joined London on the rise early on but when that gave out people here started thinking of going to the beach," said one trader. A184 words
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Article220 1992-05-23 17 THE end of the May monthly trading period knocked the bourse down as investors pocketed profits on the account, which saw the bourse hit 23-month highs on Thursday. Traders said the drop was aggravated by waning expectations of any shortterm easing by the Federal Reserve, which yanked prices lower220 words
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Article181 1992-05-23 17 THE Milan stock market jumped on Thursday, and the MIB index finished at 965 points for a 2.88-per-cent gain on the day. Agnelli Group shares were much in demand among Italian and foreign investors. and Fiat surged by 5.58 per cent on the day, and IFI Preferred by 4.68181 words
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Article291 1992-05-23 17 SWISS share prices ended a shade lower in slow professional trading on Thursday after surrendering early moderate gains. "The market lacked confidence and investors were worried by weak performances on major international bourses and high Swiss interest rates." one dealer said. A lower Wall Street opening made for a291 words
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Article469 1992-05-23 17 JOHANNESBURG Stock Exchange (JSE) industrials paused at midday yesterday as the market speculated that the Reserve Bank could cut its key bank (discount) rate as short-term interest rates continued to slide and the money market remained liquid. Dealers said the Reserve Bank's inaction to mop up increasing market liquidity469 words
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Article365 1992-05-23 17 TORONTO stocks ended softer on Thursday, pressured by the easing in Canadian and US bond markets and continued worries about Olvmpia York Developments Ltd. Trade was moderate with most sectors slipping. "It was pretty grim," one dealer said. The TSE 300 dropped 23.1 to 3,358.1 on a volume of365 words
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Article244 1992-05-23 17 Ma> 21 (lose Prttiuus NEW YORK Dow Jones 3,378.71 3.393 84 -15.13 S&P500 412 60 415 39 -2.79 Turnover (million) 182 198 -16 LONDON Financial Times 30 2,141.9 2,147.5 -5.6 KTSE 100 2,702.0 2.7119 -9.9 Turnover (million) 505.1 597.3 -92.2 FRANKFURT DAX Index 1.785.48 1.787 50 -2.02 AMSTERDAM EOE Index244 words
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Page 17 Advertisements
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Advertisement10 1992-05-23 17 Don't miss Personal Finance Investment in Business Times every Saturday10 words
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CURRENCY, MONEY & FUTURES MARKETS
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1193 1992-05-23 18 REPORTS Tokyo: The US dollar closed lower yesterday in Tokyo, where mark/yen moves dominated the market, dealers said. Life insurers were active both in mark/yen and dollar/yen trade, they added. "After mark sales for the yen by insurers in the morning, they tried1,193 words
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Article375 1992-05-23 18 Cross rates May 22 USS SS MS Dm Yen a SFr AS NZS uss 1.6330 2.5250 1.6140 130.20 0.5498 1.4830 1.3193 1.8709 ss 0.6124 1.5462 0.9884 79.7306 0.3367 0.9081 0.8079 1.1457 MS 0.3960 0.65 51.5644 0.2177 0.5873 0.5225 Dm 0.6196 1.0118 1.5644 80.67 0.3406 0.9188 0.8174 1.1592375 words
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Article536 1992-05-23 18 Interbank rates ss Bid Offer Overnight 2 15/16 1-month 3 2-month 3 1/16 3-month 3 1/8 Overnight mode: 3-1/16 3 1/16 3 1/8 3 3/16 3 1/4" US$ Bid Offer 7 days 1 month 2 months 3 months 6 months 9 months 12 months 3 15/16 3 15/16536 words
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365 1992-05-23 18 Reuter KUALA LUMPUR Malaysian manufacturers are pressing the government to review its exchange rate policy to curb the sharp rise of the ringgit but financial analysts say officials are not likely to respond immediately. A strong ringgit hurts exports butReuter - 365 words
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Article1451 1992-05-23 18 SIMEX EURODOLLAR 1 Open High Low Sett Est Vol Act/Vol Op/lnt Jun 92 95.95 Sep 92 95.60 95.61 Dec 92 94.9094.89 Mar 93 94 78 96.03 95.94 95.68 95.60 95.04 94.89 94.88 94.74 94 39 94.29 93.89 9380 93.32 93.26 93.19 93.13 92.88A 92.65A 92.29A 96 01 95.681,451 words
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Page 18 Advertisements
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Advertisement8 1992-05-23 18 Advertising Marketing in Business Times j every Thursday8 words
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COMMODITIES
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814 1992-05-23 19 REPORTS THE Kuala Lumpur Tin Market retreated to close nine sen lower at M$ 15.40 per kg yesterday, as the metal underwent some technical correction after its recent bullish performance for the past 10 days. Dealers said the US$6O fall on the814 words
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368 1992-05-23 19 Reuter VIENNA Opec oil ministers, unable so far to reach an accord on crude output, said they were closing in on a deal with a major impact on what consumers will pay at the petrol pump later this year. PricesReuter - 368 words
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320 1992-05-23 19 Reuter LONDON World sugar production will exceed consumption by around three million tonnes in 1991/92, said London trader E D and F Man in its third estimate. This compares with a previous forecast surplus of 1.58 million in January and aReuter - 320 words
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Article1458 1992-05-23 19 x >, ••> Rubber May 22 MS tfifc In talw) S ccnts/kg Noon Close Int I RSS Prompt 138 75/13»»-75N I3900/I40.00N Int I RSS June 92 138.75/13«».75 139.00/140 00 IntlRSSJulv 138.75/139.25 139.00/139.50 Int 2 RSS OP 138.50/I39.50N 138.50/139 50N Int 3 RSS OP 138.00/139.00N 138.00/139 OON Int 4 RSS1,458 words
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Page 19 Advertisements
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Advertisement6 1992-05-23 19 Innovation Technology in BT every Tuesday6 words
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Advertisement429 1992-05-23 19 BUSINESS T I M_E_S_ Toll free Tel No 737 0043 'Fax No: 734 36Q8 IN TH€ MATTER Of THE COMPANIES ACT (CAP. SO) AND IN THE MATTER OF RIM NAM THAI RESTAURANT PTE LTD (In Members' Voluntary Liquidation) NOTICE OF FINAL MEETING OF MEMBERS NOTICE IS HEREBY GIVEN pursuant to429 words
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Article, Illustration518 1992-05-23 20 Aftermath of the Thai military crackdown Reuter BANGKOK Thailand's Asian neighbours vying for investment capital from industrialised countries will profit at its expense, following this week's bloody political unrest, analysts say. They said yesterday that the bloody unrest would hit Thailand's booming economyReuter - 518 words
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639 1992-05-23 20 Catherine Ong - From Catherine Ong in HONGKONG HONGKONG investors and bankers are cautiously optimistic that disruptions to their business plans from the political unrest in Thailand will be short-lived. With the demonstrations thinning out, the curfew lifted and offices reopened in Bangkok, bankers639 words
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392 1992-05-23 20 AP, Reuter, AFP BANGKOK Claims are growing that the number of people slain on the streets of Bangkok this week is far higher than the 40 officially admitted by Prime Minister Suchinda Kraprayoon on Thursday. Unofficial sources yesterday said reports were streamingAP,; Reuter,; AFP - 392 words
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481 1992-05-23 20 Reactions to new EC farm policy AFP, Reuter, AP PARIS The European Community's belated radical reform of its agriculture policy drew mixed responses yesterday. General Agreement on Tariffs and Trade (Gatt) di-rector-general Arthur Dunkel gave a qualified welcome to the reform and said it wasAFP,; Reuter,; AP - 481 words
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352 1992-05-23 20 Reuter TOKYO The ruling Liberal Democratic Party (LDP) will propose additional fiscal stimuli next month to help speed economic recovery in Japan, a senior LDP official said yesterday. Shizuka Kamei, vicechairman of the party's policy affairs research council, said thatReuter - 352 words
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209 1992-05-23 20 AFP HONGKONG The Hongkong Association of Banks yesterday announced a one percentage point across-the-board cut on deposit interest rates and the prime lending rate the second cut in a month. All the new rates will take effect on Monday, it said.AFP - 209 words
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278 1992-05-23 20 Reuter WASHINGTON The Bush Administration has stepped up its pressure on the Federal Reserve to cut interest rates, just days after the central bank apparently decided against it. "We believe there is room for a further easing of monetary policies... to promote growth,"Reuter - 278 words
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275 1992-05-23 20 Philippine election AP, Reuter MANILA Fidel Ramos held his lead for the presidency yesterday, but an official of the agency counting-Jfrf ballots said massive fijfttd had been discovered in tlfree areas where the former dofence secretary is ahead. Miriam Defensor Santiago,AP,; Reuter - 275 words
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479 1992-05-23 20 Maggie Ford - From Maggie Ford in JAKARTA PRESIDENT SUHARTO'S decision to revoke a decree that gave him sweeping powers to rule the country reflects growing confidence that extremist forces are no longer a domestic threat, analysts said yesterday. Indonesian political observers have played down the479 words
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Page 20 Advertisements
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Advertisement6 1992-05-23 20 CHARTPOINT Every Saturday in Business Times6 words
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Advertisement7 1992-05-23 20 ICHARTPOINT j Every Saturday in Business Times7 words
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Executive Lifestyle
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Article, Illustration1348 1992-05-23 21 Nirmal Ghosh - Singaporeans can be pretty innovative if they want. Nirmal Ghosh talks to some less than eccentric inventors Nirmal Ghosh THEY say that necessity is the mother of invention. That was what led to the invention of the wheel, the internal combustion engine and the aeroplane. But1,348 words
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STRAWS IN THE WIND
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Article41 1992-05-23 21 ACTOR and front-runner for the Philippine vice-presiden-cy Joseph Estrada's on-screen and off-screen womanising are well-known to Filipinos. Not surprisingly, jokes abound. Like this one: "What would you do if Congress sent you a bill for abortion?" The answer? "Pay it."41 words
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Article31 1992-05-23 21 TIMES must be really hard in Moscow these days. Asked what he wanted to be when he grew up, a five-year-old boy said solemnly: "A foreigner, madam."31 words
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Article34 1992-05-23 21 THERE were stories recently that news agency United Press International would be taken over by TV evangelist Pat Robertson. If he does, the wire service might be renamed "United Praise International".34 words
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Article97 1992-05-23 21 IS THIS English or what? The following is an excerpt from a statement issued by Hotel Negara: "That pursuant to section 161 of the companies act, cap 50 and notwithstanding article 13 of the article of association of the company, approval be and is hereby given to97 words
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OPINIONS
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Article, Illustration1043 1992-05-23 22 Walton Morais - Walton Morais looks at whether Western-style democracy can thrive in the Asian context Walton Morais The writer is BT's Foreign Editor POLITICAL developments in Thailand and the Philippines in recent days have again raised questions about whether Asia is ready to practise the democratic model that Western1,043 words
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Article, Illustration814 1992-05-23 22 Maggie Ford - Maggie Ford examines the path that a few Asian countries have taken as they follow the global trend towards democratisation Maggie Ford The writer is Bl's Jakarta Correspondent THE LATEST events in Thailand can leave no one in any doubt that the people of Asia are following814 words
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Article, Illustration750 1992-05-23 22 Nirmal Ghosh - Environmental regulations are still the most expendable in times of economic and political pressures in America, says Nirmal Ghosh Nirmal Ghosh The writer is a BT journalist THE ENGINE of American environmentalism appears to be sputtering under a double burden: economic woes and a750 words
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459 1992-05-23 22 LETTERS TO THE EDITOR WE THE shareholders of Federal Cables Wires (FCW) are thankful to BTs Leslie Lopez and Chew Eng Han for the frequent reports on the tussle by three bidders to take over the company. They are very enlightening and we find459 words
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Article104 1992-05-23 22 Ng Suan Eng (Miss - Ng Suan Eng (Miss) Deputy Director University liaison Office National University of Singapore I REFER to your report on the recent tuition fee revision (BT, May 15). The University would like to clarify that when the vice-chancel-lor mentioned that the increase of 5 per cent to104 words
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VIEWPOINT
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Article, Illustration2048 1992-05-23 23 Margaret Thomas - It s easy to exaggerate the power and menace of MNCs. But as BPs regional head Hugh Norton points out to Margaret Thomas, companies and governments can also learn and benefit from each other CONVERSATIONS AT RAFFLES Margaret Thomas STABILITY, as all good Singaporeans know, is a keyPhoto by Arthur Lee - 2,048 words
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Article, Illustration720 1992-05-23 23 Jaime Ee - Has the durian become so yuppified that it has entered the portals of trendhood? Jaime Ee ponders a prickly question Jaime Ee I HAPPEN ED to be at a durian fair one day when I saw this scintillating poster: "Know Your Durian Contest". I immediately drew up720 words
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EPICURE
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Article, Illustration565 1992-05-23 24 Nirmal Ghosh - Nirmal Ghosh finds himself stuck on Cafe Palm's special promotion Nirmal Ghosh The Skewer Special promotion is on at the Oriental Hotel's Cafe Palm until tomorrow. SKEWERING something and cooking it over a fire is about the most fundamental way to cook, and was probably invented565 words
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LIFESTYLE
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Article, Illustration638 1992-05-23 25 N K Yong - WINE By N K Yong I CAME away from a four-day visit to the Rhine Valley recently, meeting nine growers and tasting close to 20* wines, greatly impressed wiu both wines and growers. 3"he visit gave a better undemanding of the quality faCtOrs in638 words
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Article, Illustration339 1992-05-23 25 Sybil Holloway - BRIDGE By Sybil Holloway A FTER the first ses- sion of the Pairs final at the 1992 Philip Morris-sponsored European Mixed Teams and Pairs Championships in Ostend, Belgium. David Burn of Great Britain walked into the Press Room and announced: "I have just made339 words
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590 1992-05-23 25 XiuQiong - XiuQiong spends an entertaining evening observing some strange rituals at a watering hole XiuQiong The other day, i was watching a cutesy show about dinosaurs who behave like humans, with the only exception being a distinctive mating dance that the males perform when590 words
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PEOPLE
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Article, Illustration169 1992-05-23 25 A LITTLE BANK grew into a bigger bank in a short span of 10 years, and recently threw a party to celebrate the occasion. The host was Jean Krier, chairman of the Executive Board of Banque Internationale A Luxembourg (BIL), who treated a hostPhotos by Arthur Lee - 169 words
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PURSUITS 1
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Article, Illustration646 1992-05-23 26 Jaime Ee - What do children think of life's big issues? Jaime Ee gains some interesting insights in My Girl Jaime Ee IN ALL the fuss about Macaulay Culkin's character dying in My Girl, someone forgot to mention that this movie actually has very little to do with646 words
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Article, Illustration477 1992-05-23 26 Susan Tsang - Susan Tsang enters the sensuous domain of The Mambo Kings where melodrama reigns supreme Susan Tsang LIFE is very complicated in The Mambo Kings. Cesar and Nestor Castillo are brothers who love each other. Cesar loves women in general and goes out with Lanna, a cigarette girl.477 words
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Article, Illustration546 1992-05-23 27 Susan Tsang - Lao Pak On's paintings help his viewers to unwind, but there is also dynamism in the peaceful scenes he portrays, observes Susan Tsang Susan Tsang ARTIST Lao Pak On was born in Hangzhou. He graduated from the Hangzhou Art Academy in 1965 as the546 words
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Article, Illustration509 1992-05-23 27 Susan Tsang - The National Museum's Colour and Craft exhibition is not just for kids. Susan Tsang is confident adults will like it too Susan Tsang THE Children's Discovery Gallery in the National Museum is not very large, but the organisers have managed to pack into that room a Colour and509 words
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Article, Illustration684 1992-05-23 27 RINGO LIEW - CD Review By RINGO LIEW DAVID SANBORN: Upfront Emerging from the rock-blues environs of late-1960s San Francisco, David Sanborn has made his mark straddling the different musical tastes and styles of the past two decades. Come stock-taking day, he is the CD store owner's nightmare as684 words
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PERSONAL FINANCE & INVESTMENT 1
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Article, Illustration956 1992-05-23 28 Loh Hui Yin,Quak Hiang Whai - Loh Hui Yin and Quak Hiang Whai find analysts wary about Thai stocks and the economy, but upbeat about the long term Loh Hui Yin,Quak Hiang Whai The bloody crackdown in Bangkok earlier this week has forced many foreign investors in Thai stocksSource: Bridge - 956 words
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Article599 1992-05-23 28 Catherine Ong - From Hongkong, Catherine Ong reports that re-ratings and record take-up rates augur well for leading property counters Catherine Ong After being in the doldrums for two years, Hongkong's property market is now back on its feet, as the strong economy and the mega airport and599 words
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Article, Illustration788 1992-05-23 28 Shoeb Kagda - Shoeb Kagda finds out from the Economic Survey of Singapore... Shoeb Kagda LOCAL fixed deposit rates have plunged nearly two percentage points to a meagre 3 to 3.5 per cent at the start of this year, barely enough to offset the rising cost of living.788 words
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Article, Illustration541 1992-05-23 28 Najeeb Jarhom - CHART^ By Najeeb Jarhom The writer is research manager at Fraser Securities Pte Ltd THE SINGAPORE and Malaysian stock markets have consolidated well, with the Straits Times Industrials Index hovering between 1457 and 1482 since the lightning rally in late April and the beginning of May.541 words
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Article, Illustration1164 1992-05-23 29 Genevieve Cua - Analysts are almost unanimous that GRP is good for a quick trade. But how about for the long term? Genevieve Cua reports STOCK Genevieve Cua The biggest thing that industrial and marine hose supplier GRP Ltd has going for its maiden share launch is1,164 words
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Article, Illustration1110 1992-05-23 29 American commercial property has been overbuilt, overindebted and overvalued. This is cnanging, but recovery will take years. The Economist OFFICE SPACE is the bellwether of commercial property; America has never had so much of it lying empty. About one square foot in five is vacant.The Economist; Source: Salomon Brothers - 1,110 words
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SPORTS
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Article, Illustration486 1992-05-23 30 AP INDIANAPOLIS Four rows deep in the field for tomorrow's Indianapolis 500 lurks Bobby Rahal. The 1986 Indy winner has been nearly invisible this month at the Indianapolis Motor Speedway, going through his chores quietly and efficiently while the spotlight hasAP - 486 words
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566 1992-05-23 30 Jeffrey Tsang - By Jeffrey Tsang SINGAPORE The carnival atmosphere of last week's water ski competition belies the fierce competitiveness that goes behind it. What looked like a fun and games show also masked the ambition of an aggressive organisation to push its sport566 words
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SIDE LINES
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152 1992-05-23 30 NEW YORK Five-time world champion Sugar Ray Leonard, now in his third official retirement from boxing, on Thursday ruled out the possibility of a return to the ring. "Terry Norris was my last fight. I used him as a barometer and it proved152 words
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Article86 1992-05-23 30 PARIS Yannick Noah beat Steffi Graf in a charity tennis match on Thursday night. A charity for needy sponsored by Noah's mother "Enfanis de la rerre (-Children of the Earth") was the big winner at the sold-out Bercv Sports Palace. More than 17.000 people turned86 words
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Article74 1992-05-23 30 INDIANAPOLIS Three-times world Formula One champion Nelson Piquet has confirmed that he will nevej drive again. The 39-year-old Brazilian, who has undergone four operations since badlv injuring his legs and leet after crashing in trials for the Indianapolis 500 miles classic two weeks ago. confided74 words
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Article109 1992-05-23 30 LONDON The death-plunge of a daredevil trying to parachute from the top of the London Hilton has highlighted the latest dangerous sports craze to grip Britain. P ar re. n Newton 25 whose stunt went disastrously wrong when his parachute failed on Wednesday night, probably belonged109 words
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Article67 1992-05-23 30 AMSTLRDAM Britain's Nigel Short and Viswanathan Anand of India were declared the co-winners of the Spaarbank chess tournament here on Thursday after finishing level on 3.5 points from their six matches. Short, playing with the black pieces, beat Yasser Seirawan of the US in 22 moves67 words
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Article947 1992-05-23 31 CMy FMgM EW FHM ETD Ctty FifM ETA FHgM ETD AtaDhaM GA971 1035 GA976 0145 MH605 >020 SQ104 0830 fiAQQO 0150 SO 105 1050 MHo fu uyou <=5° MH642 1220 SQ106 1045 MataMa QF81 1955 QF82 2205 SJ™ SQ106 1145 SQ228 2025 SQIqq 1405 MH641 1315947 words
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THE TRAVEL PAGE
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Article, Illustration539 1992-05-23 31 Alan Titchall - POSTCARD PROM NEW ZEALAND By Alan Titchall IT doesn't matter how much time you spend in New Zealand; the diversity and beauty of its scenery never fails to impress. My favourite, though, is Lake Taupo, which is a big watery dot in the centre of539 words
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Article151 1992-05-23 31 As at 10am yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.2320 1.2490 Canadian dollar 1.3480 1.3755 NZ dollar 0.8642 0.8816 Sterling pound 2.9545 2.9945 US dollar 1.6270 1.6350 Local dollars to 100 units of foreign currency Austrian schilling 14.20151 words
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Article86 1992-05-23 31 Duration Title Venue Organiser Tel Duration Title Vcnuc Organiser June 20 Jakarta Fair Jakarta Yayasan (62)21/*****00 June 23-25 European Port Solent, National Boat 0923-*****4 I |g Penyelenggara Workhoat Show Portsmouth Shows Ltd, (la*l Pamcran Dan l"<l««ry Pekan Raya House. Surrey Jakarta July 3-6 6th Hongkong Hongkong Headway86 words
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TIME OFF
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Article180 1992-05-23 32 SSO Choral Comccil Conductor Lim Yau. Lidia Kovaleva (soprano), Lev Kuznetsov (tenor) and Anatoli Safiulin (bass), together with the Singapore Symphony Chorus, perform Rachmaninov's The Bells. Stravinsky's Pulcinella: a One-Act Ballet for Voices, can also be heard. Venue: Victoria Concert Hall. Tonight. 8.15pm. Chamber Concert Performing are Chua Lik180 words
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Article, Illustration409 1992-05-23 32 The Best of Chua Mia Tee, Lee Boon Ngan and Lee Boon Wang Exhibition featuring three renown Singaporean artists Chua Mia Tee, Lee Boon Ngan and Lee Boon Wang. Highlights of Chua Mia Tee's career include some 26 sketches of ministers and members of parliament. Venue: Notices: The Gallery,409 words
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Article, Illustration525 1992-05-23 32 At Play In The Fields Of The Lard. Hector Babcnco directs this long-drawn out movie about man's dastardly deeds against Mother Nature. R(A). Jade 1; 10.45; 2; 5.30; 8.45. Beauty And The Beast. The much-awaited and talkedabout Disney production of this classic fairytale. Midnight tonight at Orchard and Broadway525 words
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Page 21 Advertisements
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Advertisement114 1992-05-23 21 n CALI TOLVfSO n V HOMO LCONO FIMANCI L PMM I /jJi^l SINGAPORE: IMF HOUR GLASS Lucky Plaza Tel *****20/1 Scotts Tel *****27/7198 Centrepoint Tel: *****98/603 Peninsula Plaza Tel *****09/3 ***** 3 Palais Renaissance Tel: 73 *****/543 -Rattles Tel *****41 Chang. Airport Terminal 1 (East West Wings) Tel: *****69/ 0.114 words
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Page 22 Advertisements
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Advertisement25 1992-05-23 22 BT welcomes letters from you. Please address them to: The Editor, Business Times, 190 Kim Seng Rd, S'pore 0923. Letters should include your contact numbers.25 words
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Page 22 Miscellaneous
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Miscellaneous47 1992-05-23 22 OOONESBURY BY GARRY TRUPEAU \SX!SSK\ wSK*!*] ftuuc* 5 I 60-QRfMEPIA UfiMBSSEGHAU SCRUTINY, THE UN-CANDtWW I IN6TttNfMXX&PW6K&, AND I VU,MfS A COWRfUUJNEarrAee, r-J most becalmed. kemahs jv round-the-clock I E&eas vmouwhathesumds I be save uNERGBBNe^^ I CONSULTATIONS HMTH "LEAPING \RXUjnmih£ week, peter* J SORT OF MAVe/m,-r ROLAND j47 words
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Page 24 Advertisements
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Advertisement674 1992-05-23 24 Bud. where to wine, dine OF ___^^—^SS^SS^^SSSSSSSS^S^SS^^^SSi^mmi i TvaEi f Sweet Temptations of lovely pastries and refreshing desserts, coupled with a cup of coffee or tea, make a perfect accompaniment for an afternoon tete-a-tete. From 3 5.30 pm (weekends only) Adult: 08.BO++ 2 ild e^*™ Plaza Hotel PI3Z3 Hr*l»ROiWS.l»ca(*«vo7l9 I674 words
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Advertisement314 1992-05-23 24 Savour Jiangzhe Cuisine the A TASTE OF TWO PROVINCES delectable com- j I bination that's emerged out of rich Jiangsu and J thrifty Zheqiang. LL An experience not to be missed. Make your reservationsearly. I IN CONJUNCTION WITH I IHH HnHT«l|irt w i JIANGSU ZHEJIANG a Land of Abundant* Land314 words
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Page 25 Advertisements
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Advertisement247 1992-05-23 25 AND ENTERTAIN I Hubertus Grill I Goes Austrian Again! The ever popular Austrian Food Promotion is on j again at Hubertus Grill... I Come savour this annual affair of glorious Austrian I Dinner only I 7 pm to 10.30 pm I 19 -30 May 1992 SINGAPORE I For reservations, i247 words
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Page 26 Advertisements
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Advertisement158 1992-05-23 26 Which half is your child in? .^^l ■■■BfpHHHIBHRP| One-half* of the teenage population reads Friday Weekly I I Singapore's first and only Chinese language weekly for students. V J "J I The other half does not. g~ -TLa I one-half benefits from a whole new concept of Friday Weekly making158 words
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Page 29 Advertisements
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Advertisement166 1992-05-23 29 EXPRESS SHARE LOAN Turn your shared ~jg~ into instantly at^ Get cash on the spot for your shares for 1,2 or 3 months at 1% per month. Scripless counters are also accepted. Flat (discounted) For more information, call our toll-free numbers. Hong Leong Finance 223 0936 Singapore Finance 226 3398166 words
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Page 30 Advertisements
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Advertisement2350 1992-05-23 30 ®60ll Jen Cattle finance CORPORATION LIMITED (hicwpoiHd In Singapore) AND ITS SUBSIDIARY COMPANY BALANCE SHEETS AS AT DECEMBER 31,1991 W OTHER PAYABLES AND ACCRUALS ftm Company Group Company Not.. 1991 IfflQ 1491 IMQ liil IMQ 1981 IfflO St St St St I St St St St LIABILITIES AND SHAREHOLDERS' EQUITY2,350 words
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Page 31 Advertisements
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Advertisement41 1992-05-23 31 Discover the lengths Fiiinair go for just one price. A superb twice-weekly service from Singapore direct to Helmnlti and daily connections to over 35 European destinations- all for one price. Call *****77 for details We knew Europe from atari to Pinmah.41 words
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Advertisement59 1992-05-23 31 fijk Did you see her on telly? Cheering Sighing And (hen hugging players of Malaysia's /jjr victorious Thomas Mr f W Seri Dr Siti Hasmah I Minisle it passionate about 4; badminton? Or sport, jjßpS A closer look at > j 7 f J -mk M Z\ l nrm new59 words
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Page 31 Miscellaneous
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Miscellaneous208 1992-05-23 31 I Spoken word went round very fast (7) 10 Be with the group then run JBSZjBLJBL—JB— to surround fortified area II Mad reason 12 Last, remove a strip of J wood (4) mushrooms ——L*J— bled person (7) **1111 I 1 I I I mrmi!im t '?7^ enera f,an< C 7208 words
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Miscellaneous199 1992-05-23 31 Singapore Oat look: Shawm ow several areas in the late morning and early afternoon. Report: Maximum temperature 33.2 Assoc humidity 66% Minimum temperature 25.7 Assoc humidity 98% Hours of sunshine 6.25 Rainfall in mm Nil Rainfall this month 52.8 Rainy days this month 9 World report Asia-Pacific Hi/Lo* Cond. Auckland199 words
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Miscellaneous30 1992-05-23 31 fc:iIibiJS.MaBHWMM fw ..icgc rcTTtMa\ h'n T Q ST^V •fttis ts "we uFe....Tne\ v ftuSuNSMme.. -me Pp«< Vf" V iUKMMM*2 L Ww C ASSOCIATE!) KWWAPCM LTD.. IM3-IM3 V Qn J j|30 words
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Page 32 Miscellaneous
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Miscellaneous1365 1992-05-23 32 TODAY'S TV invest iga- enlightens 5.00 Celifc Ma. agency who has three at- multi-ethnic of his 5.30 SpidTwoniin. women working family and proceeds to whip 6-00 News under him. They get called up an equally diverse meal J-JJ 2£r' upon to track down an un- that includes unpronounceble I IrjfjSfl1,365 words
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Miscellaneous638 1992-05-23 32 MOVIES ON TV HMkus Town, Moo, 10.30pm, brother-sister pair who perSBCI2 form in a band. This movie Xic Jin direcis this interna- basically an excuse to feationally critically acclaimed ur songs from Bruce 1986 movie about life in Chi- Springsteen and Bon Jovi^ na during the Cultural Revo- but in638 words
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