The Business Times, 6 June 1992

Microfilm: NL18214
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    17 1 Business Times THE BUSINESS PAPER EOR S-E ASIA MITA (P) 35/12/91 Weekend Edition, June 6-7 1992 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      Dow lower
      24 1 WALL STREET stocks declined slightly early yesterday. The Dow Jones average slipped 4.93 to 3,394.80 in the first half hour of trading.
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    • Article
      Footsie lower
      21 1 LONDON share prices were lower at midday yesterday. At 1130 GMT, the FTSE 100 was down 8.9 at 2,673.0.
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    • Article
      US jobless rate jumps to 7.5pc in May
      70 1 WASHINGTON The US unemployment rate jumped to 7.5 per cent in May, the highest level in nearly eight years, the Labour Department said yesterday. The number of nonfarm jobs rose by a modest 68,000 last month, far less than the 101,000 that
      70 words
    • Article
      Japan's current account surplus surges 22pc
      37 1 TOKYO Japan's current account surplus soared 22.1 per cent from a year earlier to US$9.B billion in April but was down from US$l3.6 billion in March, the finance ministry said yesterday.
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    • Article
      Insider trading charge
      42 1 IN ONE of the largest insider trading cases ever filed, the US government on Thursday accused seven prominent financial figures, including a member of the Revlon Inc founding family, of making millions by trading on non-public tips. Page 2
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    • Article
      Liang Court expansion
      27 1 LIANG COURT Holdings Ltd plans to expand in the AsiaPacific, developing and managing properties in countries like Malaysia, Indonesia, Thailand and Australia Page 3
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    • Article
      Strong German growth
      45 1 GERMANY released a rash of data on Thursday which shows the west German economy expanding strongly in the first quarter of 1992 and unemployment falling in both east and west in May, but the government rushed to quash any euphoria Page 7
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    • Article, Illustration
      STOCK INDICES
      28 1 Friday Change BT-MGA 719.10 -3.44 Kuala Lumpur ....587.16 +0.93 Tokyo 17,790.04 -174.03 Hongkong closed Sydney 1,674.5 -2.2 Thursday Change New York 3,400.0 -6.99 London 2,681.9 +1.0
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    • Article
      CURRENCIES
      30 1 London Gold AM fix US$338.85 USS+0.20 Exchange rates USS SS 1.6275 100 Yen SS 1.2780 MS SS 0.6448 Money market rates Overnight 2 15/16% -1/16 3-month 3 1/16 unch
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    • Article
      COMMODITIES
      32 1 Rubber S'pore July unav Vkg M'sia June 220.00 c /kg +0.50 KL Tin Turnover 56 tonnes +18 Spot MSI5.94/kg unch Crude palm oil Turnover 1,127 lots -318 Aug MS872 /tonne +7
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  • Article
    Slump in exports of S'pore consumer electronics
    516 1  -  By Joseph Rajendran SINGAPORE Exports of consumer electronics from Singapore slumped during the first four months of 1992 and the outlook for the rest of the year is dismal. Trade Development Board (TDB) figures obtained yesterday by Business Times show that the export
    516 words
  • Article, Illustration
    Lock icon Lloyds withdraws its bid, leaving Midland to HSBC
    233 1 AFP LONDON Lloyds Bank said yesterday that it would not proceed with its conditional bid for British competitor Midland, leaving the field open for a takeover by Hongkong and Shanghai Banking Corporation. HSBC's own bid, welcomed by the Midland board, is dependent
    AFP  -  233 words
  • Article, Illustration
    Why no dividends, shareholder queries ANA Hotel board
    379 1  -  By Sangeeta Mulchand SINGAPORE Listed ANA Hotel Singapore's (AHS) second largest shareholder yesterday took the company's board of directors to task for its failure to pay out dividends since its listing in 1982. Proxies representing the interest of Peter Kua Phek Long
    379 words
  • Article
    Japanese investments to S'pore and Asia-Pacific down 16pc
    374 1  -  By S N Vasuki SINGAPORE The worst fears have been confirmed. Japanese direct investments to Singapore and the Asia-Pacific region fell 16 per cent to US$5.9 billion (559.6 billion) during the year ended 31 March 1991. Globally, there was a steep 27
    374 words
  • Article
    S'pore wants more talented Indians to settle here
    254 1  -  By Salil Tripathi SINGAPORE The Government wants to attract more qualified professionals from India and South Asia to work in Singapore and make it their home. Deputy Prime Minister Lee Hsien Loong said yesterday: "We would like the trickle of talented South
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  • PAGE 2 NEWS
    • SINGAPORE ROUNDUP
      • Article
        Singapore to host Asia Telecom 93
        104 2 SINGAPORE The Republic will again host Asia Telecom, the region's biggest exhibition for telecommunications products and services, in May next year. Asia Telecom 93 is jointly organised by the International Telecommunication Union and co-hosted by Singapore Telecommunications Pte Ltd (Telecom) and the Telecommunication Authority
        104 words
      • Article
        S'pore at Earth Summit
        113 2 SINGAPORE The Minister for the Environment Ahmad Mattar will lead an 11-member Singapore delegation comprising senior officials from the Ministry of Environment, Ministry of Foreign Affairs and the Attorney-General's Chambers to the Earth Summit in Rio de Janeiro in Brazil. The summit is scheduled to be
        113 words
      • Article
        Ceiling for compensation raised
        34 2 SINGAPORE From July 1, coverage under the Workmen's Compensation Act will be extended to non-manual workers earning up to $1,500 per month, instead of the 51,250 per month at present.
        34 words
    • Article
      Govt will not sell land unless prices offered are fair: Dhana
      571 2  -  By Colin Tan SINGAPORE The Government will continue to release a steady supply of land to balance supply and demand, but it won't sell unless the prices offered are "fair", National Development Minister S Dhanabalan said last night. "You,
      571 words
    • Article
      Foreign talent must be welcomed: BG Lee
      522 2  -  Singaporeans must not fear competition from immigrants By Salil Tripathi SINGAPORE Singaporeans who are not comfortable with the government's policy of attracting foreign talent should "see beyond (their) emotions to the larger interests of the country", Deputy Prime Minister Lee Hsien Loong said
      522 words
    • Article, Illustration
      Bombay broker Mehta's arrest will boost stocks: analysts
      449 2  -  From Rajendra Bajpai in NEW DELHI INDIA'S Central Bureau of Investigations (CBI) swooped down on leading Bombay broker Harshad Mehta, nicknamed the "Big Bull", in a move that stock market analysts said should have a positive impact on the bourses in the
      449 words
    • Article
      Lock icon Revlon family member, 6 others charged with insider trading
      485 2 Reuter NEW YORK In one of the largest insider trading cases ever filed, the US government on Thursday accused seven prominent financial figures, including a member of the Revlon Inc founding family, of making millions by trading on nonpublic tips. The
      Reuter  -  485 words
    • Article
      Grace Cocoa S'pore sees initial sales of up to $10m a year
      267 2  -  By Schutz Lee SINGAPORE US-based Grace Cocoa, a leading supplier of industrial cocoa and chocolate-based products, is confident of reaping several million dollars a year from its new industrial chocolate plant in Singapore. Grace Cocoa Singapore will manufacture
      267 words
    • Article
      Asiaweek takes a FEERless shot at rival
      252 2 SINGAPORE Even as the Far Eastern Economic Review's new editor initiates an anticipated revamp of its editorial product, the magazine's longtime rival Asiaweek is reminding advertisers that it is on the ball with its Asian coverage. Firing a salvo, Asiaweek publisher Barrie C
      252 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      448 2 ARAB BANK PLC (Incorporated in Amman, Jordan) Conversion rates of the U.S. Dollar against the Jordanian Dinar for consolidation purposes: i r y ,J -g J IDO —amz Balance Sheet»of 3i« December 1991 and 1990 Profit And Loss Statement )i/i2(i99i ii/ii/iwo for the years 1991 and 1990 > DrOM ,99,
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      Page 2 Advertisements Column 2
      102 2 FOR SUCCESSFUL MANAGEMENW^ OF YOUR BUSINESS <Tj Stories on labour and its relationship with 7 management, management concepts in practice, 7~\ profiles of leading managers in Singapore and fi C V—, relevant book reviews. =7 v Nr-I/ ENTERPRISE MANAGEMENT, in 1 J*"/ Business Times every Monday, is must j J
      102 words
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  • COMPANY NEWS 1
    • Article
      Liang Court plans to expand in Asia-Pacific
      557 3  -  Property group aims to forge strategic alliances By Magdalene Ng SINGAPORE Liang Court Holdings Ltd plans to expand in the Asia-Pacific region. developing and managing properties in countries like Malaysia, Indonesia, Thailand and Australia. Liang Court will forge strategic alliances with strong partners
      557 words
    • Article, Illustration
      Liang Court looks forward to public listing and growth
      482 3  -  By Magdalene Ng SINGAPORE Liang Court Holdings' chairman, Goh Cheng Liang, declared himself a happy man yesterday at the launch of the group's share offer, which will bring it closer to a public listing. Mr Goh said he saw the fulfilment
      482 words
    • Article
      Hong Leong group to step up hotel, real-estate presence in China
      509 3  -  From Catherine Ong in XIAMEN SINGAPORE'S Hong Leong group is planning an aggressive foray into C hina's hotel and real-estate markets despite a difficult gestation for its first major mainland investment. At yesterday's official opening of Holiday Inn Harbour
      509 words
    • Article
      SingLand to upgrade Clifford Centre; denies share placement talk
      268 3  -  By S N Vasuki SINGAPORK Singapore I>and has announced that it will invest $5 million in a major refurbishment and upgrading programme at Clifford Centre and has also denied rumours that it is planning a placement of shares. The company said
      268 words
    • Article
      Foreigners hold 32.9pc of OUB shares
      279 3  -  By Kooi Cho Teng SINGAPORE Foreigners now hold 32.93 per cent of Overseas Union Bank's shares, but this is still short of the 40 per cent limit that would allow these shares to be listed separately. OUB, which is said to be keen to
      279 words
    • Article
      Fels completes base of US$250m oil platform for Brazil
      266 3  -  By Juliette Walker SINGAPORE Listed rig builder Far East Levingston Shipbuilding (Fels) has completed two pontoons which will form the base of a US$25O million (SS4O7 million) floating production platform for Brazil's state-owned oil company. Fels, with Brazilian partner Tecnica Nacional
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    • Article
      Rethink needed on Japanese warrants?
      772 3  -  Idea of introducing JWs in S'pore is well-intended but inappropriate HOCK Bv Laurence Lau Tlw writer is an investment strategist with an international broking firm SINGAPORE A Stock Exchange of Singapore (SES) working committee recently recommended that the launch of Japanese equity warrants (JWs) on
      772 words
    • Article
      Executive director of Lum Chang Securities steps down
      238 3 SINGAPORE Winston Tan Kay Miang has stepped down as executive director of Lum Chang Securities Pte Ltd, a wholly-owned subsidiary of Lum Chang Holdings Ltd. Yesterday's announcement by the Stock Exchange of Singapore (SES) came three months after Mr Tan was fined
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    • COMPANY BRIEFS
      • Article
        Daihatsu's pre-tax profit falls 74pc
        62 4 TOKYO Japan's leading small car manufacturer Daihatsu Motor Co said yesterday that its consolidated pre-tax profit in the year ended March 31 plunged 74 per cent from a year earlier to 3.81 billion yen (5548.7 million). The Osaka-based company said sales of the parent firm
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      • Article
        Shiseido smells success in venture
        95 4 TOKYO Major Japanese cosmetics firm Shiseido Co Ltd is seeking to enter the global perfume business, an industry dominated so far by overseas rivals. Shiseido, the world's fourth largest cosmetics group in sales, will launch perfumes this year to cut into the 1.3 trillion yen
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      • Article
        Sanctions against Hyundai shelved
        89 4 SEOUL South Korea's government will shelve sanctions against the Hyundai group after its chairman promised to collect all cash loans made by group affiliates to Hyundai founder and maverick politician Chung Ju Yung, bank officials said yesterday. The Korea Exchange Bank, the group's major creditor bank,
        89 words
      • Article
        No help for Maxwell pensions
        69 4 LONDON The British government rejected calls on Thursday to give a cash lifeline to pensioners left short of money by the collapse of Robert Maxwell's publishing empire. The media tycoon plundered pension funds at several companies to prop up his empire and administrators have been
        69 words
    • Article
      Lock icon O&Y staves off foreclosure in the US
      275 4 Reuter NEW YORK Olympia York Developments Ltd staved off its first foreclosure in the United States on Thursday when a group of banks decided to delay seizing part of the collateral backing a US$l6O million (*****.3 million) loan that is in default, bankers
      Reuter  -  275 words
    • Article
      Lock icon Japan and US agree on semiconductor sale plan
      504 4 American suppliers to get advance information on chips needs NYT TOKYO In an eleventh hour attempt to head off a trade crisis, Japanese and US electronics companies agreed on Thursday on measures aimed at vastly increasing the sale of US semiconductors in
      NYT  -  504 words
    • Article, Illustration
      Lock icon Thai market reforms going ahead despite political troubles
      488 4 Reuter BANGKOK The day after a new watchdog body began overseeing Thailand's booming stock market, the bourse shut down for two days as the country slid into crisis. But moves to regulate the capital and stock markets have gone ahead on schedule
      Reuter  -  488 words
    • Article, Illustration
      Lock icon Taipei forbids Formosa's huge China project
      290 4 Reuter TAIPEI Taiwan will not allow the Formosa Plastics group, the island's largest private conglomerate, to build a US$7 billion (SS 11.3 billion) petrochemical complex in China. Economics Minister Vincent Siew. responding to a media report that Beijing had approved the project and was
      Reuter  -  290 words
    • Article
      Lock icon Sale of Philippine steel mill put on hold again
      287 4 Reuter MANILA The Supreme Court has upheld an earlier ruling stopping the Philippine government from selling part of the state-owned National Steel Corp (NSC) at an auction scheduled next week. The court denied a government petition seeking the lifting of a
      Reuter  -  287 words
    • Article
      Lock icon KLM returns to profit, will pay dividends
      340 4 FT AMSTERDAM KLM Royal Dutch Airlines swung back to profitability in 1991-92 after record losses in the previous 12 months, prompting the airline to resume dividend payments. A cost-cutting programme and a higher proportion of first-class and business-class travellers helped KLM to post
      FT  -  340 words
    • Article
      Lock icon Mixed views on HK Telecom changes
      340 4 Reuter HONGKONG Analysts' views are mixed on the impact of the agreement in principle between the government and Hongkong Telecommunications Ltd to discontinue the company's local telephone monopoly when it expires in 1995. Derek Lau. a senior analyst at Nikko Securities, said the stock's
      Reuter  -  340 words
    • Article, Illustration
      Lock icon BHP trying to restore market confidence in Foster's: analysts
      503 4 MARKET TALK IHT MELBOURNE When Broken Hill Pty (BMP), Australia's biggest company, moved to take over a major holding in Foster's brewing group this week, it exposed a significant flaw in BHP's financial position. Analysts said yesterday that by appointing receivers
      IHT  -  503 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      165 3 I I Free Consultation With more than 14 v ears of experience in Evaluation On overseas education, we can help you select: 0 right course Higher an accredited institution fcWMWOllwil that will meet with your qualifications and budget. Overseas COURSES AVAILABLE: Pre-Unlverslty studies 'A' levels. Foundation, Matriculation For July Sept
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      377 4 EU YAN SANG HOLDINGS LIMITED (Incorporated In the Republic of Singapore) NOTICE OF CLOSURE OF REGISTER OF HOLDERS OF TRANSFERABLE SUBSCRIPTION RIGHTS EXPIRING ON DECEMBER 1,1994 ("TSRs") M 1. NOTICE OF CLOSURE OF REGISTER OF HOLDERS OF TSRe NOTICE IS HEREBY GIVEN that the Register of holders of TSRs will
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  • FINANCIAL NEWS
    • Article, Illustration
      Lock icon Australia plans to adopt Code of Banking Practice
      305 5 Reuter CANBERRA Australia will adopt a Code of Banking Practice, enquire into bank profits on credit cards and expand prudential supervision of banking groups. I he plans were outlined in a statement by Treasurer John Dawkins who said he would make a
      Reuter  -  305 words
    • Article
      Lock icon Lloyd's to double central fund to £1b to boost solvency position
      558 5 Reuter LONDON The Lloyd's of London insurance market said it would double the size of its central fund to £1 billion (552.97 billion) to strengthen its solvency position and reassure policyholders that all insurance claims can be met. Chief
      Reuter  -  558 words
    • Article, Illustration
      Bearish outlook of US$ against major currencies likely to go on
      792 5 DBS Bank weekly eurrency review US$/D.\l: Bear trend to continue The sharp drop of the US dollar on May 29, which saw it gapping down from its low the day before, failed to extend into the early part of
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    • Article
      Lock icon Japan may allow banks to manage bond issues abroad
      238 5 Reuter TOKYO Japan's Ministry of Finance (MOF) is expected to lift next year a restriction that has presented the overseas securities subsidiaries of Japanese banks from leadmanaging Japanese bond issues abroad, an MOK official said. The regulation, known as the "three-bureau
      Reuter  -  238 words
    • Article
      S Korean bank to borrow US$50m from capital market
      235 5 SINGAPORE Korea Long-Term Credit Bank (KLTCB) will borrow US$5O million (5581.4 million) from the offshore capital market for general working purposes, banking sources say. The three-year term loan was launched in the market on Monday. Interest is pegged at 40 basis
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    • SMALL CHANGE
      • Article
        Shareholders will not renegotiate BCCI payment
        87 5 I.ONIX)N Majority shareholders in Ahu Dhabi of the eollapsed Bank of Credit and Commerce International SA said arrangements, announeed earlier this year, between themselves and BCCI liquidators Touche Ross are not open to renegotiation. This ineludes the amount to be paid under the plan.
        87 words
      • Article
        Westpac names rights underwriter
        77 5 SYDNEY Westpac Banking Corp said CS First Boston Equities Ltd (CSFB) has been appointed sole underwriter of the bank's AS 1.2 billion rights issue. The three-for-10 issue at AS3 a share was not underwritten when it was announced on May 20 with the bank's AS 1.67
        77 words
      • Article
        Maybank issues Olympian card
        60 5 KUALA LUMPUR Malayan Banking Bhd has introduced a specially designed Visa card to commemorate the 1992 Olympic Games, called Maybank Visa Olympian Card. General manager of Maybank's Retail Banking Divisions, Ahmad Kisal Abdul Rahman, said in a statement yesterday that this limited edition card issue will
        60 words
      • Article
        Riyadh warns banks
        100 5 MANAMA. Bahrain The Saudi Arabian Monetary Agency (Sama) warned banks not to pour funds they would have used to purchase new bills into a new reverse repurchase facility, bankers said. Sama told the banks it may refuse any request for a reverse repurchase agreement a mechanism for
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      • Article
        Lower securities gains hit Baltica
        76 5 COPENHAGEN Sharply lower financial income and securities gains in the first quarter, compared with rising prices last year after the Gulf War, were behind the steep fall in Danish insurer Baltica Holding A/S's profits, the firm said. The value of its overseas shareholdings fell in
        76 words
      • Article
        NZ's secondary mortgage market
        73 5 WELLINGTON A consortium which bought 10,000 mortgages from the New Zealand government on Thursday began using them yesterday as a springboard to launch a secondary mortgage market, a new concept in this country. "In one sense, what this arrangement constitutes is an establishment of a secondary
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      195 5 PERSONAL IN V ESTING FINANCE SUPPLEMENT '98 A Special Business Times Survey July 23, 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
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  • THE REGION
    • NOTE BOOK
      • Article
        Indonesia to pull out troops from E Timor
        107 6 JAKARTA Indonesian military leaders said yesterday they would start withdrawing combat troops from hast Timor where scores of people were killed when soldiers opened fire at a funeral. Lt-Col Anton Tompudung of the Udayana military command said he was ready to gradually
        107 words
      • Article
        Malaysia raps radicals
        60 6 KUALA LUMPUR A Malaysian minister said yesterday radicals were manipulating the World Wide Fund for Nature (WWF) into leading a European campaign against Malaysian tropical wood. Primary Industries Minister Lim Keng Yaik told officials of the national WWF branch that Malaysia, a leading producer of tropical hardwood,
        60 words
      • Article
        A$50m magnesite project signed
        67 6 CANBERRA Australia and Japan have signed for a Australian Asso million (Ss62 million) project to research and develop low-cost technology to exploit the world's biggest magnesite source, a 1.2 billion-tonne deposit at Kunwarara. Queensland. Industry Minister John Button said the aim over the next five years
        67 words
      • Article
        Jakarta to host Spratlys meeting
        85 6 JAKARTA Indonesia plans to host a third informal meeting on potential conflicts in the South China Sea, including over the Spratlys, at the end of June, foreign ministry spokesman Suteja Kartawijaya said yesterday. The meeting will take place in Yogyakarta, central Java, from June 29
        85 words
      • Article
        More political prisoners freed
        85 6 YANGON The military junta has released 14 more political prisoners, including two members of a key opposition party, the official Working People's Daily said yesterday. The government newspaper said the 14, including Myint Kyi and Thaung Myint of the National League for Democracy, were released from
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    • Article
      Continuing instability may lead to loss of investments
      361 6 The political uncertainty in Thailand Large Thai firms may turn their attention overseas BANGKOK The continuing political instability in Thailand may become a factor that forces large local business enterprises to shift more of their investments overseas, the Bangkok-based daily The Nation
      361 words
    • Article
      Series of campaigns planned to lure tourists back
      314 6 BANGKOK Thailand is planning a series of campaigns to reverse the expected downturn in tourist arrivals as a result of last month's political upheaval, the Bangkok Post reported on Thursday. The package includes financial support for selected international meetings in Thailand, offers
      314 words
    • Article
      Lock icon M'sia and Vietnam sign accord to jointly explore for oil
      225 6 Reuter KUALA LUMPUR Malaysia and Vietnam signed a memorandum of understanding (MOU) to jointly explore for oil in areas where both nations have overlapping elaims in the Gulf of Thailand. offieials said yesterday. The memorandum was drawn up after three
      Reuter  -  225 words
    • Article
      Lock icon Cambodian factions locked in crisis talks
      202 6 Reuter PHNOM PENH Cambodia's four factions were locked in crisis talks yesterday, as the extremist Khmer Rouge guerilla group stood its ground on a key condition for cooperating with the UNbrokered peace process. The Supreme National Council, Cambodia's all-fac-tion reconciliation body, was called into
      Reuter  -  202 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      512 6 Vessel Voy No Berth Arrival Depart we Vessel Voy No Berth Arrival Departue Marina Terminal 1 Tm Hang 9242 N S04 0606 1000 06 06'2300 (Jatarn Baru B153 M03 alongside 0606 2300 p Man Ma,u *****2 M04 alongside 0606 2300 ,Urong rorl 8ata*i Murni *****2 M05 alongside
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    • Article
      CONTAINER SCHEDULE
      1870 6 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Record Book rig/Balance Rslts Shp Voy No Etb/Btr Period From To From ACX Ruby 57A 07/0700 2 06/1700 06/0659 06/0900 3 06/0700 06/1159 06/1400 Og 07GW92 08/1500 1 05/1500 05/1659 05/1900 3 06/0700 06/1159 06/1400 4 06/1200 06/1459 06/1700 Anna
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  • THE WORLD
    • Article
      Lock icon German economy expands strongly
      495 7 Latest data show first quarter growth and declining unemployment Reuter BONN Germany released a rash of data on Thursday, which shows the west German economy expanding strongly in the first quarter of 1992 and unemployment falling in both east and west in May, but the government
      Reuter  -  495 words
    • Article, Illustration
      Lock icon US protests to China over police treatment of journalists
      369 7 Foreign newsmen beaten on Tiananmen Square AP BEIJING The US made a "strong protest" to China yesterday over the rough police treatment of foreign journalists, including an American, on Tiananmen Square on the third anniversary of the June 4 army crackdown
      AP  -  369 words
    • Article
      Lock icon Industry views UK recovery with cautious optimism
      385 7 Reuter LONDON Britain's budding economic recovery is being viewed warily by industry, but figures on Thursday showed a modest upturn in car sales and growing confidence in the long-term outlook. Manufacturers expect to spend around 2 per cent less in 1992 than last
      Reuter  -  385 words
    • Article, Illustration
      Lock icon When a little bow does not go amiss
      528 7 Japanese graduates are finding that more than just a diploma is needed to get a job FT TOKYO The downturn in the Japanese economy has claimed another victim, the pampered university student. In the feverish days of the late 1980s, the country's
      FT; Source: Adole Magazine  -  528 words
    • WORLD WATCH
      • Article
        US in security talks with 6 Arab nations
        82 7 WASHINGTON The US administration is quietly negotiating complex security relationships with six Arab nations that include billions of dollars in weapons sales, construction of military' bases, joint exercises and mutual defence agreements, officials said. Developing close military ties with Saudi Arabia, Kuwait.
        82 words
      • Article
        S Korea-Russia industrial tie-up
        75 7 SEOUL South Korean companies are pushing ahead a plan to set up a vast industrial complex in eastern Russian, officials said yesterday. The complex, on a site of 3.3 million sq m in Primorski Krai, the Russian region bordering North Korea, will accommodate plants for light-industry
        75 words
      • Article
        Services still block Gatt accord
        104 7 ESTORIL, Portugal An agreement on farm reform in the European Community has boosted the chances of concluding a new world trade deal, but disagreement over services remains a big obstacle, a senior EC official said on Thursday. Frans Andriessen, vice-president of the EC's executive Commission.
        104 words
      • Article
        Forcing N Korea to comply
        80 7 WASHINGTON US experts sceptical of North Korea's renunciation of atomic weapons said on Thursday it could take UN sanctions to force the communist regime to submit to inspections and give up its nuclear plans. Inspectors should demand that the communist government hand over the plutonium,
        80 words
      • Article
        Russia, others to sign arms pact
        64 7 OSLO, Norway Promising to follow through with the Kremlin's arms control initiatives, Russia and other former Soviet republics plan to cut back on tanks and non-nuclear weapons. The pact, expected to be signed yesterday, further eases Western fears that the collapse of the Soviet
        64 words
    • Article, Illustration
      Lock icon Bush attempts to regain spotlight from Perot
      609 7 AFP WASHINGTON President George Bush tried to stem challenger Ross Perot's momentum on Thursday by convincing voters he had the leadership and ideas needed to win second term and urging the Texas billionaire to support him. During a press conference aimed at regaining
      AFP  -  609 words
    • Article
      Lock icon Perot taps Republican, Democrat to steer campaign
      463 7 AFP WASHINGTON Billionaire businessman Ross Perot has tapped high-powered political strategists to steer his undeclared presidential campaign but the move may jeopardise the image of political outsider he has worked to cultivate. True to his word to be a candidate unlike any other,
      AFP  -  463 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Battle of wills raging in humdrum market
      969 8  -  By S N Vasuki A BATTLE of wills is being waged in the stoek market. At stake is whether the benehmark Straits Times Industrials Index will surge from its present levels of 1500 to 1505, or plunge hopelessly below 1500. The index closed
      969 words
    • Article, Illustration
      Lock icon HOT STOCK
      69 8  -  -By Anthony Pang Comment THIS STOCK has been on an uptrend since late-1990, rising from $2.00 to its all-time high of $7.65 yesterday. Long and short-term indicators, however, are pointing to overbought conditions. Also, the rally since May looks too steep, and a correction to a more sustainable
      SOURCE: BRIDGE INFO  -  69 words
    • Article
      Untitled
      3266 8 r\ e urT Ust Vo1 D*> last Quote Db Div Vld Net M Cap High Low Code Compan> Traded Sale +or- (*000) High I .oh Buyer Seller C\t S P/E Smil INDUSTRIAL AND COMMERCIAL 220 170 1000 Acma 192 xd +2 157 192 188 191 192 12.2 2.1 64 11.0
      3,266 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3073 9 C Properties 750 +90 13.6% B Sembawang 810 50 6.6% Robinson 765 +20 +2.7% Singmarine 50* 535 +20 +3.9% DBS 1160 +10 09% DBS Foreign 1410 +10 +0.7% Metro Hldgs 432 +6 +1.4% Keppel Corpn 790 +5 +0.6ib YHS 161 +4 +2.5% Cold Store 50«
    3,073 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      140 9 Shinel YOUR KEY TO BE! TTER BUSINESS DECISIONS! Shine is Singapore Press Holding inforich database financial statements highlights, graphs, latest results team: T. S. Liu on 740 1035, Hazel Ong on 740 1771 on Teleview, which incidentally is the most advanced and company news. Tony Chia j| videotex! system in
      140 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 3
    3334 10 H I eong Credit 245 +8 +3.4% Shell 466 +6 +1.3% Gentings 50* 770 +5 +0.7% Oriental Hldgs 615 +5 +0.8% Cons Plant 50* 141 +4 +2 9% PJ Dev Hldgs 87Vi +4 *4 8% Perils Plant 476 4 4-0.8% KL Industries 79Vi +3Vj +4.6%
    3,334 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      22 10 BUSINESS TIMES Toll free Tel No 737 0043 Fax No: 734 3688 The Straits Times j r r; "3# < ;j,; >" V :V'
      22 words
    • Advertisement
      Page 10 Advertisements Column 2
      473 10 NATIONAL KAP LIMITED (Incorporated in the Republic of Singapore) Registered Office: No 1 Third Chin Bee Road Jurong Singapore 2261 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the 1992 Annual General Meeting of the shareholders of the Company will be held on Monday. 29th June 1992 at
      473 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Investors focusing on second-liners
      1022 11 Bernama SHARE PRICES ended almost unchanged yesterday in dull trading with only selected second-liner stocks attracting interest. The KLSE Composite Index at the close added 0.93 of a point to 587.16, the Industrial Index was 2.61 points higher at 1,033.83. and the all shares Emas Index
      Bernama  -  1,022 words
    • Article
      Untitled
      4205 11 l9n Last Vol Day Net Cap High Low I'ektxte Company Sale '000 High I/m P/E Smil INDUSTRIALS 221 165 AISB 50* 170 unch II 170 169 15.2 174.4 414 314 7004 ASM 50« 316 2 130 316 314 16.6 1299.4 650 530 7000 Acidchem 595 unch 17 595 595 20.5
      4,205 words
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  • STOCK EXCHANGE OF THAILAND
    • Article, Illustration
      Lock icon Stocks rally as investors see end to political deadlock
      1856 12 Reuter STOCKS rallied strongly in Bangkok yesterday in reaction to an opposition decision to nominate Democrat Party leader Chuan Leekpai as compromise prime minister, brokers said. The SET Index advanced 17.42 points, or 2.6 per cent, to close at 702.24 on
      Reuter; Source: Bridge Info  -  1,856 words
  • JAKARTA STOCK EXCHANGE
    • Article, Illustration
      Lock icon Share prices soar in frantic trading
      1280 12 STOCKS in Jakarta ended higher yesterday in a week that saw sharp gains with what one broker described as "hysterical" buying by local investors. By the close, the index was 315.58, up 2.08 points on a half-day turnover of just over 11 million shares.
      Source: Bridge Info  -  1,280 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks end easier in limp trade
      2617 13 Reuter SICK KS ended lower yesterday in very dull, thin trade. Futures-linked and pre-week-end selling pressured prices while most investors sat out the market ahead of futures settlement next Friday, but light buying by institutions kept a floor under the market, brokers said. The
      Reuter  -  2,617 words
  • Article
    STOCK EXCHANGE OF HONGKONG
    2193 13 Vol June 4 IIKS High Low (*000) Pi: ASM Pacific 2.025 0.0 2.025 2.000 90 10.4 Allied Ind Int'l 0.950 0.020 0.960 0.910 3429 12.2 Allied Oversea 1.240 0.010 1.260 1.230 ***** 12.2 Allied Ppt 2.175 unch 2.200 2.150 ***** 10.3 Allied PptW93 1.600 0.040 1.630
    2,193 words
  • Page 13 Advertisements
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  • AUSTRALIAN STOCK EXCHANGE
    • Article, Illustration
      Lock icon Share prices end lower in dull trading
      2139 14 Reuter STOCK PRICES closed slightly lower yesterday in light trade after a dull, featureless day. Brokers said the market lacked any leads and highlights were hard to find. The All Ordinaries index closed 2.2 points down at 1674.5, off an intraday low of
      Reuter; Source: Bridge Info  -  2,139 words
  • REGIONAL STOCK MARKETS
    • Seoul stocks end higher on intervention
      • Article
        SEOUL
        866 14 FLURRIES of interest in Hyundai ■Group shares provided some support to a sagging market yesterday but Korea Securities Market Stabilisation Fund intervention was the main mechanism that helped lift Seoul stocks -just before the final bell, brokers said. "The market managed to end higher because of the fund intervention.
        866 words
      • Article
        MANILA
        590 14 THE Manila share index rose 1.3 per cent yesterday to post a record closing high of 1,517.21, although it was lower than the day's high of 1,528.89. Profit-taking at midsession pared gains posted at the start of trade, brokers said. The Manila Stock Exchange composite index closed 20.48 higher
        590 words
      • Article
        NEW ZEALAND
        294 14 SHARES in New Zealand ended slight- ly lower on small turnover yesterday but brokers remained reasonably positive about the market's fortunes next week. The NZSE-40 capital index ended 7.63 points (0.48 per cent) down at 1,574.89 on turnover worth only NZ$l6 million. Stocks that have done extremely well
        294 words
      • Article
        BOMBAY
        166 14 BOMBAY Stock Exchange (BSE) share prices fell broadly on Thursday after India's federal police launched a raid on three big brokers who have been accused of siphoning bank funds to play in stocks, dealers said. The Central Bureau of Investigation (CBI) said it started searches of premises of broker
        166 words
      • Article
        Untitled
        422 14 Close Previous Jane S NEW ZEALAND NZSE-40 Capita! 1,574.89 1,582.52 -7.63 MANILA Composite Index 1,517.21 1,496.73 +20.48 Turnover (mil pesos) 741.6 599 +142.6 TAIPEI Weighted Pnce Index closed 4,586.61 Turnover (NTS billion) closed 32.3 SEOUL Composite Stock Index 569.20 568.81 +0.39 Turnover (billion won) 201.7 196.6 +5.1 Taipei June 4
        422 words
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  • WORLD STOCK MARKETS
    • Dow ends lower ahead of jobs data
      • Article, Illustration
        NEW YORK
        1310 15 WALL S I REFT stocks took a breather on Thursday ahead of the widely-antici-pated May US employment report, posting moderate losses in slow trading. Most investors were happy to move to the sidelines before the jobs data, but the Big Three auto makers continued to entice buyers alter
        1,310 words
      • Article, Illustration
        LONDON
        947 15 SHARES ended mixed on Thursday after a quiet session as investors largely stayed away from equities amid growing uncertainty over the near-term direction of the market. Dealers said a combination of worries over European union following Denmark's rejection of the EC Maastricht Treaty and concern about the pace of
        947 words
      • Article
        FRANKFURT
        205 15 THE Frankfurt stock market closed mixed on Thursday, as the DAX spot trend index ended with a gain of 3.73 points at 1.792.31. while the Commerzbank indicator shed 15.30 points to 2.014.20. The day's big gainers included Allianz insurance with 15 marks. Karstadt four, Siemens 3.20, and Thyssen with
        205 words
      • Article
        AMSTERDAM
        173 15 DUTCH SHARES struggled to hold on to gains in the afternoon on Thursday after a brief surge of activity in KLM shares on their results. Trade was mostly thin. The EOF Index closed firmer up 1.04 at 317.33. but without enthusiasm, having spent half the day in negative territory
        173 words
      • Article
        PARIS
        262 15 FRENCH share prices managed to close slightly higher on Thursday despite a sharp dip in the morning, but the CAC-40 index ended under the key 2.000 level for a second straight day. The blue-chip index finished 2.26 points or 0.11 per cent higher at 1.994.87. Volume was just 2.2
        262 words
      • Article
        MILAN
        293 15 WORRIES about the risks to European Economic and Monetary Union posed by Denmark's rejection of the Maastricht Treaty and the negative performance of leading markets elsewhere combined to drive Italian shares lower on Thursday. "The uncertainty linked to the future of a united Europe, with all the implications that
        293 words
      • Article
        ZURICH
        341 15 SWISS SHARES closed a shade higher in moderate business on Thursday. Brokers said stocks had recovered opening losses by midsession in line with other European bourses. The all-share SPI Index added 3 points to 1.205.3 and the SMI Index of leading shares edged up 1.7 points to 1,916.9. "Trade
        341 words
      • Article
        STOCKHOLM
        136 15 PRICES on the Stockholm bourse elosed lower on Thursday due to the implications of the Danish rejection of the Maastricht Treaty and continued problems in the bank and real estate sectors, dealers said. "The recent very strong undertone on the bourse is gone after all the negative news," one
        136 words
      • Article
        TORONTO
        280 15 STOCKS shadowed declines on Wall Street to close lower on Thursday, discounting a round of percentage point prime lending rate cuts to 7'A per cent from Vh per cent. "Things became pretty quiet rather quickly after around lunchtime," one dealer said. Among active shares, Inco Ltd rose 1-5/8 to
        280 words
      • Article
        Untitled
        488 15 June 4 lost' Previous NEW YORK [X)M Jones 3.400 3.406 99 -<>.99 SAP MM) 413.26 414 59 -1.33 Turnover (million) 204 216 -12 LONDON Financial Times 30 2.092.6 2,090.7 +1.9 FTSE 100 2.681.9 2.680.9 1.0 Turnover (million) 502.7 472.0 4-30.7 FRANKFURT DAX Index 1.792 31 1.788 58 +3.73 AMSTERDAM EOF.
        488 words
  • Page 15 Advertisements
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback ends mixed in Tokyo as dealers await US jobs data
      1228 16 REPORTS Tokyo: The US dollar ended firmer against the yen. hut easier against the mark in Tokyo yesterday, with most operators awaiting the release of US unemployment figures for May at 1230 CiMT, dealers said. Some dealers expect the
      1,228 words
    • Article
      INTERBANK FOREX RATES
      415 16 Cross rates June 5 I IJSS SS MS DM Yea l si I \S N/S I 'SS 1.6270 2.5220 1.5950 127.40 0.5464 1.46(H) ***** I.*587 SS 0.6146 1.5501 0.980.1 78.3036 0.3359 0.8974 0.8055 1.1424 MS 0.3965 0.65 0.6324 50.5155 0.2167 0.5789 0.5197 0.7370 »Dm 0.6270 ***** 1.5812
      415 words
    • Article
      MONEY MARKET
      541 16 Interbank rates s$ BW <>ffw Overnight 2 15/16 3 1/16 1-month 2 15/16 3 1/16 2-month 3 3 1/8 3-month 3 1/16 3 3/16 Overnight mode: 3 rSS Bid Offer 7 days 3 7/8 4 I month 3 15/16 4 1/16 2 months 3 15/16 4 1/16 3
      541 words
    • Article
      Lock icon New M'sian swap rule hits speculators, depresses ringgit
      334 16 Reuter KUALA LUMPUR A new limit on currency swap bids imposed by Malaysia's central bank has dealt a sharp blow to speculators and forced the ringgit to knuckle down in the near-term after a heady five-month surge, dealers said. Bank Negara's move
      Reuter  -  334 words
    • Article
      FINANCIAL FUTURES
      1528 16 SIMEX EURODOLLAR i Open High Low Set t Fst Vol Act/Vol Op/lnt Jun 92 95 Sep 92 95 7095.71 Dec 92 95.05 Mar 93 94.89 Jun 93 94.42 Sep 93 93.98 IXx 93 93.43 Mar 94 93.29 Jun 94 93.01 Sep 94 92.78 Dec 94 92.43 Mar 95
      1,528 words
  • Page 16 Advertisements
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  • COMMODITIES
    • Article
      Lock icon South Africa's Anglo American tops mining list
      227 17 AP LONDON Anglo American Corporation of South Africa Ltd has top ranking in a survey released on Thursday of mining activity outside the Communist world. Three North American and two British companies are among the top 10, but only one Japanese firm, Mitsui
      AP  -  227 words
    • Article
      Lock icon World oil demand expected to rise by 1.5pc annually
      431 17 AFP ABU DHABI World demand for oil is expected to increase by 1.5 per cent annually in the next three decades if prices remain close to US$2O (5532.57) a barrel, according to an oil executive in the United Arab Emirates. David
      AFP  -  431 words
    • Article
      Tin remains steady ahead of long weekend
      765 17 REPORTS THE PRICE of tin remained unchanged from Thursday's close at M$ 15.94 per kg on the Kuala Lumpur Tin Market yesterday as operators were reluctant to take fresh positions ahead of the weekend. Dealers said sentiment, however, was well supported by some
      765 words
  • Article
    PRICES
    1547 17 Rubber MRELB (fob hi totes) (M cents/kg) Noon (lose Int I RSS July 92 220.00/222.00N 220.00/222.00 Int 2 RSS OP 2I8.00/2I900N 2I8.00/2I9.00N IJK/Cont 217.00/2I8.00N 217.00/218 00N Int 3 KSS OP 215.50/216.50N 2I5.50/2I6.50N UK/Cont 2I4.MV215.50N 2I4.5Q/2I5.50N Inl 4 KSS OP 212.50/213.50N 212 50/2I3.50N UK/Cont 211 .50/212.50N 211 50/2I2.50N Int 5
    1,547 words
  • Page 17 Advertisements
    • Advertisement
      Page 17 Advertisements Column 1
      918 17 BUSINESS TIMES Toll free Tel No 737 0043 -Fax No: 734 3698 In tr» Matter ol The Companwe Ad Cap SO and tnlheMaaeral JUMBO CONSTRUCTION (PTE) LIMITED (In Members Voluntary Uqudakon) At an Extaonftnary General Meelrig of re abovenamed Company duly convened and held at 1 Colombo Court #64-15, Singapore
      918 words
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  • Article
    Lock icon Chuan Leekpai likely to win support for new govt
    424 18 Analysts say pro-military faction behind him Reuter BANGKOK Thai politicians expressed confidence yesterday that the leader of the opposition Democrat Party Chuan Leekpai might be able to draw support from the pro-military coalition and form a government. "The prospect is very
    Reuter  -  424 words
  • Article, Illustration
    Veteran politician, strong ideologist
    460 18  -  Profile of Chuan Leekpai From Andrew Cooke in BANGKOK MILD-MANNERED Chuan Leekpai is no stranger to top government jobs, having held several ministerial posts since he entered politics in 1969. His first portfolio was that of Justice Minister in the 15day coalition government of Seni Pramoj
    460 words
  • Article
    Lock icon Changing conditions may alter S Korea's investment pattern
    264 18 OanaYonhap SEOUL South Korea's overseas investment pattern may change as some countries are losing their attractiveness, the Economic Planning Board (EPB) said in a report yesterday. Between 1986 and the end of 1991, Korean companies made 2,552 investments abroad totalling U556.26 billion
    Oana- Yonhap  -  264 words
  • Article
    Lock icon M'sia to hand over papers on Pedra Branca to S'pore soon
    256 18 Bernama KUALA LUMPUR Malaysia will soon hand over documents to Singapore to support its claim to the disputed island that it calls Pulau Batu Putih, Foreign Ministry Secretary-General Ahmad Kamil Jaafar said yesterday. "We have already compiled the details
    Bernama  -  256 words
  • Article
    Lock icon EC pressing on with Maastricht Treaty, leaves door open for Danes
    538 18 Reuter OSLO European Community governments, reeling from Denmark's rejection of the Maastricht Treaty, said on Thursday they would go ahead with ratification of the blueprint for European union. In a joint statement issued after a meeting of foreign ministers,
    Reuter  -  538 words
  • Article
    Lock icon Walesa proposes Pawlak as PM
    407 18 Farm party leader seems best and fastest replacement Reuter WARSAW Polish President Lech Walesa yesterday proposed Waldemar Pawlak, a young farm party leader, as his candidate for Prime Minister to replace Jan Olszewski, voted down in a row over the exposure of alleged secret police
    Reuter  -  407 words
  • Article, Illustration
    Lock icon Brazil wants rich to pledge US$8b for development
    398 18 The Earth Summit Reuter RIO DE JANEIRO Earth Summit host Brazil is masterminding a plan asking rich nations to give US$7 billion (S$ 11.4 billion) to US$B billion a year to the Third World to put the meeting's ideals into practice, the
    Reuter  -  398 words
  • Article, Illustration
    Lock icon Uproar in parliament as Japanese troops Bill passed
    464 18 AFP TOKYO Japan's Upper House of parliament erupted into chaos early yesterday as the ruling party and two centrist groups pushed through a controversial Bill to send soldiers abroad for the first time since World War 11. The United Nations peace-keeping operation
    AFP  -  464 words
  • Page 18 Advertisements
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  • Executive Lifestyle
    • Article, Illustration
      In search of honest theatre
      1224 19  -  Is it art or is it sensationalism? Two artistic directors coming to Singapore for the Arts Festival share their views on censorship and artistic freedom with Jaime Ee Jaime Ee Lindsay kemp thinks censorship is "absolutely evil". Kemp is the founder of his own UK
      1,224 words
    • STRAWS IN THE WIND
      • Article
        Leading indicator
        56 19 IT WAS reported that US President George Bush and his wife Barbara decided to leave a musical at the Kennedy Centre at intermission on Wednesday night. The American dollar softened on rumours that the president was sick. But one wit believed that the market reaction was illogical. "That's
        56 words
      • Article
        Hump cuisine
        29 19 A CHINESE chef working in Saudi Arabia came across the classic obstacle to his culinary career no pork. As such, he had to experiment with camel meat.
        29 words
      • Article
        On the ball
        33 19 THE latest issue of Newsweek leads ofT its paean to American productivity with the example of a firm called St Louis Screw Bolt. Sounds more like a hit-and-run Romeo, perhaps?
        33 words
      • Article
        Money thoughts
        33 19 DESCARTES said it first, but like the English language, trust the Americans to adulterate it. Apparently, a new school of thought has emerged in the US: "I spent, therefore I am."
        33 words
      • Article
        A brief update
        42 19 FOR all those who remember Nadia Comenici, former Olympic gold medallist and star gymnast of the 1976 Montreal games: She is now modelling Jockey underwear in Canada. Hmmm, wonder if she is pitching at a niche market Size 10s.
        42 words
    • OPINIONS
      • Article
        Party consensus still holds sway
        992 20  -  Anna Teo looks at the significance of the lifting of the whip and finds that... Anna Teo The writer is a BT correspondent Arthur beng said it. Last Friday's Parliamentary session was most significant not because of the House's decision on nominated MPs but because
        992 words
      • Article, Illustration
        Lock icon Different roads, same end
        621 20  -  From Thailand to the Philippines, a clear and universal message on democracy is emerging, says Dominique Moisi Dominique Moisi The writer is associate director of the Institut Francais des Relations Internationales and editor of its journal. Politique Etrangere IHT AND never the twain shall meet? East
        IHT; A Lianhe Zaobao cartoon  -  621 words
      • Article, Illustration
        North-South gulf set to hamper Earth talks
        816 20  -  Toh Teck Sun believes that two minutes of silence is all that Boutros Ghali can get out of the Earth Summit, perhaps with some statement of intent as well Toh Teck Sun The writer is BT's Features Editor IT IS SAID that the
        816 words
      • Article
        Real estate agents charge more
        261 20  -  LETTERS TO THE EDITOR Khoo Guan Chuan I UNDERSTAND Colin Tan s zest to go to print but he should at least ask if the criticisms reported are valid. It cannot be in the interests of a real estate agent to complain that conveyancing fees
        261 words
      • Article
        No need for EMS to look for white knights
        83 20 WHY is the restructuring of Electro-Magnetic (Singapore) taking so long? What EMS needs is more capital as it is operating profitably now. It would be simpler and less complicating for the company to raise funds from its shareholders instead of looking
        83 words
    • VIEWPOINT
      • Article
        The lion in winter
        897 21  -  David Marshall, at 84, may rage at the limitations of old age, but his spirit remains indomitable. In a candid interview, he gives Margaret Thomas a passionate but unsentimental appraisal of his life and achievements f CONVERSATIONS RAFFLES Margaret Thomas THE WORDS thunder across the breakfast
        897 words
      • Article, Illustration
        Lock icon Vintage Marshall
        2137 21 HE WAS Singapore's first local-bom Chief Minister, its best criminal lawyer, its first ambassador to France. And yet David Marshall, 84, feels he has not fully utilised his potential. Why? Because he was only a Chief Minister for IS months. Because he wonders whether he could have been
        Photo by Chris Loh  -  2,137 words
      • Article
        Flying the flag in France
        651 21 AS ALWAYS, David Marshall speaks his mind. Clearly, eloquently, passionately. And there's no hiding the frustration he has felt with the diplomatic life. "I am a fighter and being an ambassador is shadow-boxing," he said. "When they offered me the ambassadorship, I was so excited.
        651 words
    • EPICURE
      • Article, Illustration
        New chef at the Hilton
        521 22  -  Susan Tsang samples the innovative Chinese euisine of James Ng Susan Tsang THE INN of Happiness at the Hilton welcomes a new chef, James Ng. Chef Ng experiments and innovates, blending ingredients which are not traditionally associated with Chinese cooking into new dishes which arc
        521 words
    • LIFESTYLE
      • Article, Illustration
        Lock icon Healthy offerings
        673 23  -  The days when consumers were happy with just a burger and fries are long gone. More nutritious items are added to the menu, says Marian Burros Marian Burros NYT The word is out that the McLean Deluxe, the lower-fat burger at McDonald's that was going to save fast-food
        NYT  -  673 words
      • Article
        The Browns of Australia keep marching on
        613 23  -  WINE By N K Yong THE FAMILY winery of Brown Brothers, located in Milawa in Victoria, Australia, has been making wine for just over a hundred years. The Brown family are now into their fourth generation, with all the four sons of the
        613 words
    • PEOPLE
      • Article, Illustration
        Lock icon Sietco celebrates first anniversary
        236 23 SHELL International Eastern Trading Company (Sietco) celebrated its First anniversary at the Orchard Hotel Ballroom, with a "Celebration at the Park" on May 19. Sietco president lain Everingham spoke in tongues to put his guests at ease, offering greetings in several languages, both Asian and European.
        Photos by Arthur Lee,Chris Loh  -  236 words
      • Article, Illustration
        Biggest European participation
        118 23 THE EC ambassador to Singapore Robert van der Meulen played host to the largest gathering of people from EC's construction and building industry at the Mandarin Ballroom. The occasion was to commemorate the biggest European participation in this year's Singapore International Building Exhi- bition. It was graccd
        118 words
      • Article, Illustration
        Fostering ties with Down Under
        89 23 TOURISM Minister for New South Wales Michael Yabsley was in town last week to help foster tourist ties between Singapore and Australia. He spoke at a cocktail at the Shangi-La Hotel for guests from the travel sector, where, thankfully, there were no jokes about throwing
        89 words
    • PURSUITS 1
      • Article, Illustration
        A tale of two litres
        746 24  -  Samuel Ee reviews the new Toyota Corona Samuel Ee CHILDREN grow up, and so do compacts, it would seem. First, there was the Nissan Bluebird, which Bridged the 1,600 cc barrier to initially buckle an l,Boocc powerplant to an extended chassis, only tb move up
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      • Article, Illustration
        Memorable Mercury
        592 24  -  CD Review By RINGO LIEW QUEEN: Live At Wembley *86 The first thing that strikes you about a Queen concert is that mass participation is mandatory. Everybody lead singer, drummer, lead guitarist, audience sings. The next thing that hits you is that Queen is one of the few
        592 words
      • Article, Illustration
        Nothing to hide
        741 25  -  There are no profound messages in the works of Teng Nee Cheong. Susan Tsang meets a painter who puts sincerity before symbolism Susan Tsang TENG Nee Cheong paints what he likes. And what he likes is Asian culture, the ethnic weaves, ceramics and even gamelan music. The
        741 words
      • Article, Illustration
        A photographer and a gentleman
        491 25  -  Nirmal Ghosh meets master architectural photographer Jaime Ardiles-Arce Nirmal Ghosh ONE DAY several years ago, vacationing architect Jaime Ardiles-Arce backed away to make way for a lady on a tour of the Rhine, and tripped and fell, hurting his back very badly. The accident changed
        491 words
      • Article, Illustration
        Wines from the Cape
        612 25  -  South Africa's paradise of wine estates remains one of the country's best-kept secrets. Salil Tripathi makes some discoveries Salil Tripathi THE DISTANT blue hills cast a reassuring backdrop under a hazy, cloudless sky. But much closer than the Helderberg Hills, stretching as far as the eye
        612 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Suite dreams for Hotel Properties
        1080 26  -  HPL has been flooded with good news recently. Its upmarket Four Seasons Park residential project received an overwhelming response. Once again, HPL is receiving serious attention from investors. S N Vasuki explains why STOCK S N Vasuki IP T IS THE best of times for
        1,080 words
      • Article, Illustration
        Intermediate resistance level is at 1,530 points
        544 26  -  CHART By Goh Hiang Fong The writer is head search, Lum Chang Securities WHAT does it take to move the Singapore stock market? Investors were asking this question this week as the Straits Times Industrials Index headed into negative territory after the announcement
        544 words
      • Article, Illustration
        Glowing prospects for power company
        1200 26  -  T.enaga's bullish debut is a reflection of the company's strength as a growth stock with stable long-term earnings, says C S Tan C S Tan ITT WAS APT that the public interest rivetted on Tenaga Nasional's listing on the Kuala Lumpur Stock Exchange last week
        1,200 words
      • Article
        HK firms highlight growth potential
        243 26 PUBLICLY-LISTED power companies in Hongkong provide a glimpse of the kind of long-term growth that Tenaga Nasional can emulate. China Light Power Co and Hongkong Electric Co are well-established companies quoted on the Hongkong Stock Exchange. They have a long track record as publicly-listed companies
        243 words
      • Article, Illustration
        How to trade in the new rubber futures
        477 27  -  The newly-set up RAS Commodity Exchange needs individual investors to provide the necessary liquidity. Shoeb Kagda looks at how they fit in Shoeb Kagda Futures trading in Singapore got a boost last month with the opening of the Rubber Association of Singapore
        477 words
      • Article
        Large price fluctuations unlikely
        312 27 WITH low margin requirements and minimal price volatility, the rubber futures market presents an ideal opportunity for newcomers to try their hands at it. The Rubber Association of Singapore (RAS) Commodity Exchange requires a speculator to deposit only $40 as a margin for every tonne traded.
        312 words
      • Article, Illustration
        Investors relieved as club prices stop falling
        350 27  -  Kooi Cho Teng updates the BT Golf Index Kooi Cho Teng PRICES of golf club memberships stayed flat in May, with the BT Golf Index up a modest 0.31 points to 241.52. Although the improvement was slight, investors will be relieved that the
        350 words
    • SPORTS
      • SIDE LINES
        • Article
          Sukova advances to Beckenham semis
          119 28 BECKENHAM, England Helena Sukova of Czechoslovakia advanced to the Beckenham grass court tournament semifinal on Thursday with a straight sets 6-3 6-2 victory over American Camille Benjamin. Sukova, seeded third for the tournament, hit three winning service returns to break for 5-3, broke again to
          119 words
        • Article
          Henke leading by two strokes
          90 28 DUBLIN, Ohio Nolan Henke shot a seven-under-par 65 on Thursday to lead Mark Brooks by two strokes after the first round of the Memorial Tournament. Nine players were three strokes back at 68, including Paul Azinger, Chip Beck and former PGA champion Jeff Sluman. Henke
          90 words
        • Article
          Lopez and Okamoto share lead
          98 28 WILMINGTON, Delaware Veterans Nancy Lopez and Ayako Okamoto and little-known Katie Peterson-Parker shared the lead in the McDonald's Classic women's golf tournament here on Thursday with four-under-par 675. Okamoto, of Japan, in her 12th year on the tour carded a 33 on the way out
          98 words
        • Article
          Japan's cycling champ to retire
          109 28 TOKYO Japan's cycling king Koichi Nakano, who ranks alongside Belgian Eddy Merckx and Frenchman Bernard Hinault in world cycling's hall of fame, is to retire from competition, a cycling official said yesterday. A spokesman for the Japan Keirin Association said Nakano, winner of 10 successive
          109 words
        • Article
          Chess Olympiad bans Yugoslavia
          83 28 MANILA The Philippines has barred Yugoslavia from competing in the World Chess Olympiad in Manila in line with UN sanctions, a spokesman for the Olympiad said yesterday. Yugoslavia was one of the top 10 seeded teams in the Olympiad, which is to formally open tomorrow with
          83 words
      • Article, Illustration
        Lock icon Kingdom's bid for Olympic gold set back
        533 28 AP ST DENIS, France Another injury may jeopardise two-time Olympic hurdles champion Roger Kingdom's chances for a third gold medal as he battles back after a year's layoff. Kingdom strained his right hamstring on Thursday during a 110-meter hurdles race at an international
        AP  -  533 words
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        Lock icon Promise of a great match
        595 28 French Open AP PARIS It's No 1 v No 2, a clash of two-time champions. So perhaps Monica Seles isn't going too far when she predicts a great match in the French Open women's final. Seles, the top seed and winner here the past two
        AP  -  595 words
      • Article, Illustration
        Lock icon Jordan still smiling the morning after
        852 28  -  Michael Jordan surprised everybody at the match against the Bulls. Even himself. George Vecsey talks to the new sharp shooter hero George Vecsey NYT CHICAGO It was all the sweeter beeause he had not planned it. Michael Jordan had accepted two winters ago that
        NYT  -  852 words
      • Article
        Lock icon Petr Korda — the man who refused to be ignored
        323 28 Petr Korda the man who refused to be ignored AP PARIS Call him the forgotten man. With Jim Courier, Andre Agassi and hometown hero Henri Leconte sharing; the spotlight, nobody paid much attention to Petr Kdrda;who earned the French Open's last semifinal berth., with a four-set win over Russia's Andrei
        AP  -  323 words
      • Article
        Lock icon Magic Johnson has a baby boy
        238 28 AFP, Reuter LOS ANGELES Basketball superstar Earvin "Magic" Johnson, who is infected with the Aids virus, and his wife Earletha had a baby boy on Thursday, doctors said. Doctors at the Los Angeles hospital where the baby was born said there waslvery little chance
        AFP,; Reuter  -  238 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1278 29 City Flight ETA Flight ETD Abu Mute GA971 1035 GA976 0145 GA890 0150 Arfaiaida QF81 1955 QF82 2205 SQ228 2025 Amsterdam SQ319 0715 SQ24 0115 KL837 1255 GA890 0150 KL838 2240 SQ342 2255 Atkaas OA473 0110 OA474 2245 AmcMMI NZ21 1820 NZ22 1940 SQ286 2030 Bakraia
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    • THE TRAVEL PAGE
      • Article, Illustration
        A smooth ride with My Fare Lady
        653 29  -  LETTER FROM LONDON By Julie Chatterjee JACKIE MILLER is svelte, blonde and eharming. Dressed in a smart tartan catsuit she looks like she just came down the catwalk. Manoeuvering me through peak hour traffic through Picadilly she says she definitely wouldn't change her
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      • Article
        FOREIGN CURRENCY NOTE RATES
        152 29 As at 10am yesterday: l>oail dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.2356 1.2524 Canadian dollar 1.3470 1.3742 NZ dollar 0.8648 0.8822 Sterling pound 2.9588 2.9989 US dollar 1.6220 1.6300 I .ocaJ dollars to 100 units of foreign currency Austrian schilling
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      • Article
        WORLD TRADE EXHIBITIONS
        87 29 Duration Title Venue Organiser Tel Duration Title Venue Organiser t" Tel July 3-6 6th Hongkong Hongkong Headway Trade (852)*****21 July 20-24 Elect rolech NEC. Elect rex Ltd. 07M&W747 International Convention Fairs Ltd Fax:*****64 Birmingham London (fax) hash ion Jewellery Lxhibition Accessories Centre Aug 16-18 International Munich. Mode-NVoche-
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    • TIME OFF
      • Article, Illustration
        ARTS FESTIVAL
        217 30 Ballet Folklorico de Mexico Swirling dancers and stunning customes will bring you back to the bygone days of the pre-Hispanic era. Venue: Kallang Theatre. Today Tomorrow. Bpm Matinee at 2.30pm. Combined Indian Dance A joint tribute by three prominent Singapore Indian dance groups in a dance drama entitled
        217 words
      • Article
        EXHIBITIONS
        238 30  -  C ompiled by Yasotha M Crescent Over the Equator First solo exhibition by local artist Teng Nee Cheong. On display are some 40 oils, pastels and drawings featuring still-life and nudes. Teng confesses to a fondness for colour, especially vibrant ones, and this will be apparent at a glance.
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    • Article, Illustration
      CINEMA
      554 30 Beauty And The Beast. The much-awaited Disney production of the classic tale that won a nomination for Best Picture. Orchard: 11; 1.30; 4; 6.45; 9.15. Bedok 1: 1; 3; 5; 7; 9 Broadway 2: 1; 3; 5; 7; 9. Yishun 10: 9.50; 10.30; 11.40; 12.30; 1.30; 2.30; 3.20; 4.35;
      554 words
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      44 19 H|W I I|l H| Jk 3 Wvv r m 4 *9FH S4 50 PIUS A W££ HAJRSTVU BOOtQXT I I jf free hairstyle booklet with June's HER WORLD From your newsvendor and at newsstands. Times the Bookshops. 7-Eleven, selected Shell stations and STOP PRESS
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      118 20 ScalpeLscissors-sutures... BusinessTmes Whether you're a surgeon, lawyer, contractor or engineer, all the current trends that affect them. you need to be kept well Informed to maximise returns on your money Essential Information accessible every business day through Business Times. In the same way a surgeon needs his tools to operate,
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      25 20 BT welcomes letters from you. Please address them to: The Editor, Business Times, 390 Kim Seng Rd, S'pore 0923. Letters should include your contact numbers.
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  • Page 20 Miscellaneous
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      Page 20 Miscellaneous Column 1
      88 20 DOONESBURY BY GARRY TRUDEAU 1 YOU KNOU. B P.. TVS BEEN SO MANY THINGS- LASTNJ6HT, I MAS 7RY/N6 TO tVB BEEN THINK- A MIDDLE KJNGPOM MIP-MFB, FIGURS OUTMJHOT THEY HAP IN EACH OF THEM JHffpSOtC !NG A LOT ABOUT A BABYLONIAN ASTRONOMER, COMON, UHAJ COHNEOZPTHt# ALMJAYS TRJW PLUCKY i wmsTuves
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      1082 22 Nothing Beats A Bud. ißHffifll where to wine, dine OK rvwiT-i Iflfc I J nunne&jf SUNDAY TEMPTATIONS Every Sunday. Nutmeg's brings to you exquisite culinary surprises, fine wines and champagnes and the relaxing chords of our jazz musicians. Seafood delicacies, Sunday favourites, local specialities and even a touch of American.
      1,082 words
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      Page 22 Advertisements Column 2
      105 22 A 24 hoor CoH## House Buffet Lunch: $15.50- Pineapple *<*, Vegetarian (1230pm to 2.45pm) t. with Rice, Fned Kway Teow... Enjoy a delicious spread $830-per item. of your favourite Western Indone n fare: Fish Head t£SS Curr y «*>' l-*™* CurT y High Tea '50s: $7.00" (3XX)pm 600pm) steak M
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      246 23 AND ENTERTAIN In the month of June, a fashion extravaganza awaits you at the Fountain Lounge: June 6 Le Femme Fa tale June 13 Feline Collection June 20 Le Femme Fatale June 27 Kryss Enjoy a leisurely Saturday afternoon tucking into delicate French pastries, dianxin and sandwiches... and a freshly-brewed
      246 words
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      Page 24 Advertisements Column 1
      207 24 ft ft\ ft I Which you^ hild n I I I I One-half* of the teenage population reads Friday Weekly Singapores first and only c* H ■I 1 Chinese language weekly for students. S; J I The other half does not One-half benefits from a whole new concept of Friday
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      342 27 I THE WINNING EDGE IN-DEPTH ffiSffl BUSINESS SSI 11 l\\ J O For over two decades Singapore Business has covered I YY A the local and regional business scene with more depth and A T Ky breadth from a perspective which is more relevant to local businessmen than any other
      342 words
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      Page 27 Advertisements Column 2
      239 27 FXPRF*P JBL wL. fjv- n LOAN a. Vy 1 I It's Quick and Easy. Get instant H Cm cash for your shares over the counter at any of our 28 branches. Use the loan for any purpose. Loans from $2,000 to $100,000. MANY OF OUR CUSTOMERS HAVE ENJOYED THE BENEFITS!
      239 words
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  • Page 29 Miscellaneous
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      Page 29 Miscellaneous Column 1
      201 29 26* to work '.right behind the dog (7) Emblematic device used 28 Times an indefinite num- by V^ ma s '°PPi n g 23 Scale of clues one's comber had been taken in by a or f Brazilian city (7) piled (7) lady (5) 7 lnd,a or farther 27 Greek
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    • Miscellaneous
      Page 29 Miscellaneous Column 2
      166 29 Singapore Outlook: Showers over several areas in the late morning and early afternoon. Report: Maximum temperature 32.2 Assoc humidity 66% Minimum temperature 25.1 Assoc humidity 98% Hours of sunshine 6.00 Rainfall in mm Nil Rainfall this month 21.1 Rainy days this month I World forecast Asia-Pacific Ili/Lo* Cond. Auckland 14/10
      166 words
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      Page 29 Miscellaneous Column 3
      30 29 totwinUc i stated out iohm visions U>HPT <.ND Of LIPC 5 GH OF GmNDeuR DO you CALL THIS bita". J^—^r tl nC v -J 8691 c ASSOCIATED NEWSPAPERS LTD., 1962-1992
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      Page 30 Miscellaneous Column 1
      1778 30 TODAY'S TV SKEWS: spasw: I* «BF kISSE? gotten writer who chooscs to SBC 5 t2.25 Fairy Tate Theatre. stav that way; he refuses a Who says good food has to A 330 Hiburan Khas. tribute to him, asking instead eost a bomb? Jacques uses i 400 Majalah Sabah. that the
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      Page 30 Miscellaneous Column 2
      667 30 movies on tv Judou, Mon, 10.30pm, SBC 12 break from playing Mrs Bill Jointly directed by Zhang Cosby to get thrown into jail Yimou and Yang Fengliang, by mistake in this lightthis 1989 movie stars Gong weight 1989 production. Sure Li as a young peasant girl she protests, but apparently
      667 words