The Business Times, 22 August 1992
1992-08-22
1
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The Business Times
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Title Section17 1992-08-22 1 Business Times THE BUSINESS PAPER FOR S-E ASIA MITA (P) 35/12/91 Weekend Edition, August 22-23 1992 75*17 words
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NEWS & MARKETS SUMMARY
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47 1992-08-22 1 JERUSALEM Palestinian negotiators delayed their departure for a sixth round of Middle East peace talks in Washington yesterday because Israel stopped five delegates from leaving, Palestinians sources said. "We have had enough," said Hanan Ashrawi, spokeswoman to the peace delegation.47 words
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35 1992-08-22 1 LONDON All faction leaders from the former Yugoslavia invited to peace talks in London next week, including Serbian President Slobodan Milosevic, have agreed to attend, Britain said yesterday.35 words
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Article23 1992-08-22 1 WALL STREET opened higher yesterday morning. After one hour of trading, the Dow Jones average was up 11.35 points at 3,316.24.23 words
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Article24 1992-08-22 1 LONDON London shares were higher yesterday morning. At 1130 GMT, the broadbased FTSE 100-share index was up 10.8 points at 2,370.2 points.24 words
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Article, Illustration29 1992-08-22 1 Friday Change BT-MGA 652.99 10.38 Kuala Lumpur ....567.06 +2.85 Tokyo 16.216.88 +949.12 Hongkong 5.509.39 +27.78 Sydney 1,559.31 +5.7 Thursday Change New York 3.304.89 -2.17 London 2,359.4 -4.129 words
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Article21 1992-08-22 1 Exchange rates USS SS 1.6080 100 Yen SS 1.2722 MS SS 0.6438 itia1i6t rdtM Overnight 2-1/2 -1/4 3-month 2-7/16% unch21 words
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Article33 1992-08-22 1 London Cok) AM fix US$337.35 US$0.65 sSporeSep.... 14l.00*/kg +0.25 Vfsia Sep..... 218.50'Acg unch KL Tin Turnover 13 tonnes -4 Spot M$16.76/kg +0.04 Cmde Mhn oil Turnover l,010iots -314 Sep M$847 /tonne 733 words
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621 1992-08-22 1 Joseph Rajendran - Singapore firms and MNCs are building plants and expanding operations By Joseph Rajendran SINGAPORE Personal computer companies are flocking to China, attracted by the country's huge potential market and the much lower cost of manufacturing PCs there. Topping the list621 words
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130 1992-08-22 1 SINGAPORE Taking heart from Tokyo's sharp rally, Singapore's bargain hunters yesterday pushed the key Straits Times Industrials Index up 23.72 points to 1,*****. Brokers said the rebound was technical as the market had been "badly oversold". It was Singapore's third straight rise following steep130 words
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278 1992-08-22 1 Reuter SEOUL South Korea and China will establish diplomatic relations on Monday, state-owned radio reported. The Korea Broadcasting System (KBS) said Foreign Minister Lee Sang Ock will leave for Beijing tomorrow for a three-day visit during which he will signReuter - 278 words
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Article, Illustration287 1992-08-22 1 Japanese firms think the unthinkable layoffs Reuter TOKYO The prolonged slowdown in Japan's economy is forcing many companies to consider the unthinkable cutting the workforce. Thousands of company staff are working part-time or not at all and firms have no way of using them productively, analysts and officials said yesterday.Reuter; Source: Recruit Research - 287 words
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565 1992-08-22 1 The fuse is lit, it could all blow up: US negotiator AFP, Reuter BEIJING The United States "lit the fuse" yesterday in a trade dispute with China, announcing a massive hit list of Chinese exports worth US$3.9 billion (556.3 billion)AFP,; Reuter - 565 words
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Page 1 Advertisements
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Advertisement214 1992-08-22 1 Nikon TtwWMd'iFtaMt PtwHogwpWc Syrtwn. arts of EL 1 < uMk CDL Hotels profit up PRE-TAX profit in the six months to June 30 at Hong-kong-listed CDL Hotels International more than doubled to HK$ 103.3 million Page 3 Shangri-La improves SHANGRI-LA Hotel Ltd posted a 31.1 per cent rise in interim214 words
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Advertisement35 1992-08-22 1 SHOWBIZ Celebrity no-show EL 3 Jazz made in S'pore el 3 I OPINIONS Will you ever know you have I over-saved? EL 2 Hock Lock Siew: It pays to give Inno-Pac a break, Pg 335 words
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Advertisement238 1992-08-22 1 PURSUITS For your eyes only el 6 Art Deco in )69 Napier el 6 The movement of a watch is dust, dirt and water. It provides Rolex Oysters have its heatt. Precious. Delicate. For a totally secure protection for the highest mountains, dived to centuries craftsmen have striven the precision238 words
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Advertisement14 1992-08-22 1 Nikon ThtWbrtd'tnnMt HMmMpWc REVIEWS The new Jack Ryan el 7 Tedious twosome el 714 words
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Advertisement10 1992-08-22 1 FINANCE Foreign currencies el s Investing in property el 910 words
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PAGE 2 NEWS;
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527 1992-08-22 2 Job prospects are poor; smaller banks squeezed hardest Reuter LONDON Job prospects are bleaker in London's oncebuoyant foreign exchange market, and the heady days of the late 1980s are never likely to return, dealers said. "Escalating costs and a reassessment of creditReuter - 527 words
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SINGAPORE ROUNDUP
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130 1992-08-22 2 THE Indian Ocean island republic of Mauritius plans to become an offshore banking and business centre for trade between the African continent and the rest of the world. Yesterday, a 20-person trade delegation from the island, led by Finance Minister Ramakrishna Sithanen, took part in130 words
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Article96 1992-08-22 2 INDIVIDUALS and corporations who wish to claim for losses incurred as a result of Iraq's invasion of Kuwait can call at the Ministry of Foreign Affairs. The United Nations Compensation Commissions has made available two more claims forms for individuals claiming for damages above US$lOO,OOO (S$ 160,000) and96 words
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Article48 1992-08-22 2 SUNTEC City Development has nominated Honeywell Pte Ltd as the subcontractor for the supply, installation and integration of the sophisticated building management, fire and security systems for the Suntec City project. The contract is worth $8 million and work will be completed by mid-1995.48 words
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Article56 1992-08-22 2 DISK DRIVE manufacturer Western Digital, which has a plant in Chai Chee, has appointed James Steger as vicepresident and general manager, replacing Mike Morrissette. Mr Steger has two decades of experience in the disk drive business, and joined Western Digital from Seagate Technology Singapore where56 words
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331 1992-08-22 2 Bernama KUALA LUMPUR Singapore has become one of the major investors in Malaysia, with 57 proposed projects worth a total of M$ 131.1 million (5584.4 million) during the first seven months of this year. Speaking at a Malaysian Industrial Development Authority (Mida) briefingBernama - 331 words
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359 1992-08-22 2 Rahita Elias - By Rahita Elias SINGAPORE Singapore must continue to sharpen its competitive edge and maintain its position as a premier shipping centre by adapting to changing economic and technological conditions, Minister for Communications Mah Bow Tan said yesterday. Speaking359 words
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Article, Illustration305 1992-08-22 2 Colin Tan - By Colin Tan SINGAPORE It will be just four months before 80 Raffles Place or the UOB Plaza bustles with business activity as workmen now rush to put the finishing touchcs to the Central Business District's latest landmark. Towering 66Photo by Arthur Lee - 305 words
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374 1992-08-22 2 Dawn Tan - Khamis Letters of Credit case Summary judgment made in favour of plaintiff Hongkongßank By Dawn Tan SINGAPORE Norway's Christiania Bank, embroiled in the multi-million-dollar debt claims chalked up by bankrupt businessman Elyamani Khamis, has appealed against a summary High Court judgment favouring Hongkongßank. The374 words
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295 1992-08-22 2 Reuter NEW YORK Global business optimism is rising, with expectations for more sales and higher profits in the third quarter, a Dun Bradstreet Corp survey said on Thursday. The business information company surveyed 11,000 business executives in IS countries in June and July forReuter - 295 words
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240 1992-08-22 2 Hong Lee Tiam - By Hong Lee Tiam SINGAPORE The Singa-' pore Convention Bureau (SCB) yesterday launched asl3 million programme to consolidate Singapore's posi tion as the seventh most popular convention city in the' world, up from eight position in 1990. v This was announced by Singapore240 words
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214 1992-08-22 2 Helen Chang - By Helen Chang SINGAPORE The goi£ eminent plans to re-train up to 100,000 mostly older workers as part of the countryV efforts to automate. The Automation Applications Centre (AAC) will create a scheme to help workers in labour-intensive industries work with214 words
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Page 2 Advertisements
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Advertisement64 1992-08-22 2 Once upon A SILENT SALE Tell others about this sale If you want to be disappointed. Otherwise, take home our artificial flowers and plants, gift items, decorative accessories and useable handicrafts from Warehouse prices to Below cost... WITHOUT A RUSH I Tor a limited period only at theMJMSSWP 1. Claymore64 words
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COMPANY NEWS 1
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Article, Illustration447 1992-08-22 3 Lee Han Shih - Taipei unit turns around with HKs6om profit By Lee Han Shih SINGAPORE A dramatic turnaround by its Taiwan hotel has helped Hongkonglisted CDL Hotels International more than double its interim profit. CDL Hotels, a 52.8 per cent subsidiary of Singaporelisted City Developments, announced last447 words
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366 1992-08-22 3 Al Labita - Listing this year will raise funds for reconstruction of 5-star hotel From Al Labita in MANILA A MANILA subsidiary of Singapore's Hong Leong Group will go public late this year to raise funds for the reconstruction of a five-star hotel it acquired from366 words
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Article318 1992-08-22 3 SINGAPORE Diversified Bonvests Holdings has turned in net earnings of $1.29 million for the half year ended June 30, a vast improvement over the loss of $40,000 incurred in the same period the year before. The group's modest interim profit was achieved despite a 16318 words
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621 1992-08-22 3 Conrad Raj - THE HOCK LOCK SIEW COLUMN By Conrad Raj SINGAPORE While Inno-Pacific Holdings has raised half the $58 million it owes bankers and loan stock holders, the company is far from being out of the woods just yet. Some of its621 words
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425 1992-08-22 3 Sylvia Wong - By Sylvia Wong SINGAPORE The Kuok family's Shangri-La Hotel Ltd yesterday posted a 31.1-per-cent rise in interim net earnings to $12.38 million but the hotel industry's raging price war is likely to take a toll on its second half results. Shangri-La said in425 words
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COMPANY BRIEFS
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103 1992-08-22 3 SINGAPORE The Inter-Roller Engineering Ltd group has reported a 42 per cent plunge in pre-tax profit to $810,000 for the half-year to June 30, despite a satisfactory level of orders. The firm said profit dropped because jobs completed produced only $7.3 million in turnover, or103 words
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Article87 1992-08-22 3 SINGAPORE Cycle Carnage Ltd's condominium project in Holland Road got off the ground yesterday with a $500,000 piling project awarded to Japanese contractor Penta Ocean. To be called The Merah Saga, after trees of the same name growing in the area, the 116-unit project will87 words
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Article121 1992-08-22 3 SINGAPORE The Stock Exchange of Singapore has asked San Teh Ltd for details on its latest set of results. The SES has asked the key-pad maker to explain its rise in group pre-tax profit in the first half-year from $4.3 million last year to121 words
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Article36 1992-08-22 3 SINGAPORE Winston Tan Cheow Kim, a senior vicepresident of the OCBC Bank, has sold 15,000 ordinary OCBC shares. They were in three 5,000-share lots priced at $9.20, $9.30 and $9.40 per share.36 words
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Article66 1992-08-22 3 SINGAPORE 999 Fund Corporation of George Town, Cayman Islands, has raised its equity in CSA Holdings Ltd. The company has bought another 23,000 CSA shares, bringing its stockholding to 10,999,999 ordinary shares, or 9.47 per cent. Shareholder Hans Schreiber, who owns 3.56 per cent66 words
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341 1992-08-22 3 Catherine Ong - World Bank unit leads financing for hotel construction From Catherine Ong in HONGKONG THE International Finance Corporation (IFC) is leading a US$B6 million (SSI3B million) loan package to finance the construction of ShangriLa Jakarta Hotel, in which the Singapore Shangri-La Hotel has a 10 per341 words
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188 1992-08-22 3 SINGAPORE An improved performance by its overseas subsidiaries and a higher turnover saw Singapore Computer Systems turning in a stronger set of earnings for the half-year ended June 30. Earnings went up by 28 per cent to $1.7 million on the back of a188 words
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COMPANY BRIEFS
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82 1992-08-22 4 NEW YORK Time Warner Inc and Viacom International Inc said on Thursday they have settled a 1989 lawsuit in which Viacom said its bigger rival was trying to drive other pay-TV services out of business. Viacom sued HBO and Time for US$2.4 billion82 words
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Article, Illustration43 1992-08-22 4 HOLLYWOOD, California Eighty-seven year old animator Friz Freleng received a star on the Hollywood Walk of Fame on Thursday while being surrounded by cartoon characters he created and helped produce. Mr Freleng produced over 300 cartoons for Warner Brothers.43 words
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Article79 1992-08-22 4 ZURICH Swiss pharmaceuticals company Ciba-Geigy AG yesterday reported a rise in its group net profit in the first half of the year. It said profit rose 12 per cent to 1.42 billion Swiss francs (551.76 billion) in the first six months, up from 1.27 billion francs79 words
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Article60 1992-08-22 4 TOKYO Honda Motor Co said yesterday its consolidated net income for the April-June quarter fell 22.6 per cent from the same period a year ago to 16.5 billion yen (Ss2lo million). Honda, a major Japanese automaker and the world's leading motorcycle manufacturer, attributed the decline to60 words
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Article79 1992-08-22 4 LONDON Ford Motor Co's four British plants face possible closure unless productivity, costs and quality attain the level of their continental European counterparts, a senior group executive was quoted on Thursday as saying. "If it comes to the point where we have surplus capacity79 words
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Article, Illustration393 1992-08-22 4 Schutz Lee - Sale due to restrictive Agriculture Ministiy ruling By Schutz Lee SINGAPORE Transco Investments, a family controlled company, yesterday sold its 35-per cent stake in New Zealand's Salmond Smith Biolab (SSB) for NZ$23 million, making a profit of NZ$9 million. Thirteen months ago,393 words
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411 1992-08-22 4 Sectors dependent on consumer spending still in recession: analysts Reuter TORONTO Canada's corporate giants offered little hope of economic recovery anytime soon with their recently released second-quar-ter earnings, analysts said yesterday. Economists surveyed by Reuters said that while cyclical sectors like mining and forestryReuter - 411 words
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503 1992-08-22 4 Al Labita - From Al Labita in MANILA LISTED Metro Drug, a subsidiary of the Hongkongbased First Pacific group, plans to tap Manila's burgeoning money market to beef up its capital requirements as the Philippines' leading distributor of consumer products. In documents filed with the Securities503 words
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336 1992-08-22 4 Reuter HONGKONG An-glo-French engineering group GEC-Alsthom has submitted a proposal for a US$2OO million (***** million) to US$3OO million contract to equip a new underground railway in China's southern city of Guangzhou, a company official told Reuters. Kenneth Luk, manager of GEC-Alsthom's southReuter - 336 words
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284 1992-08-22 4 Reuter TOKYO Nikon Corp, without admitting infringement of camera-manufactur-ing technology patents held by Honeywell Inc, reached an out-of-court settlement with the US-based computer company for an undisclosed sum. "Our payment to Honeywell is simply a settlement to end a dispute. It doesn'tReuter - 284 words
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Article, Illustration560 1992-08-22 4 Reuter, NYT TORONTO Olympia York Developments Ltd offered creditors as much as 80 per cent equity in the firm under a five-year debt restructuring proposal formally unveiled on Thursday. Under a proposal Olympia said it would file in aReuter,; NYT - 560 words
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360 1992-08-22 4 Robert Jones' firm accused of aborting building purchase Reuter WELLINGTON Property magnate Robert Jones, a technicolour character in New Zealand's amorphous business scene, yesterday said he was confident of winning a court case important to his business future. His company, Robt Jones InvestmentsReuter - 360 words
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Page 3 Advertisements
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Advertisement173 1992-08-22 3 KLSE edges up 11 Hang Seng rebounds 13 TiXu ETON HALL, Singapore (Boarding Facility for Foreign A Local Students) Si—zii' .—hi 1- euK* Situated in lush, green tranquil JH surrounding in Alexandra Park, this 44.000 n k**tailing oBo house 160 male A female boarders from ages of 10 yeare upwards.173 words
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Page 4 Advertisements
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Advertisement106 1992-08-22 4 "The most attractive waterfront parcel of land on Lake Wakatipu" located at Queenstown, New Zealand's leading tourist resort" KAWARAU FALLS LODGE, QUEENSTOWN, NEW ZEALAND Acting upon instructions from the Dunedin Methodist Mission this unique property is being offered for sale with vacant possession: Absolute Waterfront Currently zoned Residential One 16.77106 words
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Advertisement10 1992-08-22 4 Canada's inflation rate among lowest in the world, Pg 710 words
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FINANCIAL NEWS
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Article, Illustration299 1992-08-22 5 Soh Tiang Keng - By Soh Tiang Keng SINGAPORE India's largest company, the govern-ment-owned Indian Oil Corporation, has tapped Asian and European money markets for a US$2OO million loan for working capital. lOC will use the funds to finance term and spot pur- chases of crude oil and299 words
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312 1992-08-22 5 Reuter TOKYO Bank of Japan governor Yasushi Mieno has laid down the cudgels in his fight against inflated stock and land prices, only to take up arms against asset deflation that markets fear is eroding the health of the financial system. That, at least,Reuter - 312 words
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303 1992-08-22 5 FT LONDON Recession, further reductions in insurance rates in the US and lower interest rates have combined to depress profitability at Willis Corroon, the UK's largest insurance broker, which on Thursday announced a 22 per cent fall in interim pre-tax profits to £54.1 millionFT - 303 words
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Article, Illustration469 1992-08-22 5 DBS Bank weekly currency review US$/DM: poised for a new historical low! INCREASED TENSION over Iraq last weekend saw the dollar retrace to a high of 1.4765 on Monday before it lost steam to close at the day's low of 1.4640. Bearish sentiment469 words
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285 1992-08-22 5 Quak Hiang Whai - By Quak Hiang Whai SINGAPORE Tokyobased Nippon Credit Bank is closing down some of its unprofitable units overseas but is unlikely to shut its profitable offshore branch here, banking sources said. Nippon Credit, the smallest of Japan's three long-term credit banks, earlier this285 words
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410 1992-08-22 5 Reuter NEW YORK The Federal Reserve may yet play its hand again, lowering interest rates one more time before the presidential election on Nov 3, economists say. The timing of any such move will depend in large part on economic numbers.Reuter - 410 words
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192 1992-08-22 5 Reuter LOS ANGELES The US stock market may be fickle about bank stocks these days but Wells Fargo and Co keeps attracting the attention of billionaire investors, despite its massive problem real-estate portfolio. Just last week, billionaire investor Warren Buffett raised his stake in theReuter - 192 words
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SMALL CHANGE
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64 1992-08-22 5 NEW YORK A former junk-bond analyst at Merrill Lynch and Co and his college friend were indicted on Thursday in an alleged insider trading scheme that netted more than US$l million (SSI.6 million). Edward L Scherer, 32, of Houston, and Ellis J Strelitz, 31, a64 words
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Article90 1992-08-22 5 WASHINGTON The US Court of Appeals in Richmond, Virginia, ruled on Aug 18 that a failed savings and loan (S&L) cannot put its subsidiaries in bankruptcy protection to prevent the government from taking control of them. The Appeals Court ruling lifted a preliminary injunction that90 words
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Article108 1992-08-22 5 Tokyo A prolonged slump in the stock market has forced Japan's Nikko Securities Co to streamline operations at its headquarters, a Nikko spokesman said on Thursday. Nikko, one of Japan's Big Four securities houses, has eliminated four of the 92 divisions and 45 of the 160108 words
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99 1992-08-22 5 TOKYO Japanese life insurers are not rushing to set up a company to buy shares and support the stock market, industry sources said. An official at the Japan Life Insurance Association denied a report in the daily Tokyo Shimbun yesterday morning saying the 3099 words
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Article, Illustration236 1992-08-22 5 NYT WASHINGTON William Taylor, head of the US banking agency that guarantees funds on deposit in member banks, died on Thursday after colon surgery a week earlier, the Federal Deposit Insurance Corp (FDIC) said. Taylor, 53, had developed pneumonia last weekend, butNYT - 236 words
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Page 5 Advertisements
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Advertisement162 1992-08-22 5 The New Audi 101) from Champion Motors >'• %>..'<• PROGRESS THROUGH TECHNOLOGY "Advancement through technology." The guiding principle behind Audi's revolutionary developments, the supreme example of which is the new Audi 100. Generously proportioned and stylishly sleek with an aerodynamic (CD 0.29) easy-to-propel shape, the new Audi strikes an impressive162 words
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REGION
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NOTE BOOK
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69 1992-08-22 6 KUALA LUMPUR The Malaysian government has approved a proposal to set up a bank for the 225,000 teachers and educationists in the country, a teachers' congress official said yesterday. The "Bank Guru" (Teachers' Bank) would have an initial capital of Ms2oo million (S$ 128.869 words
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Article57 1992-08-22 6 WASHINGTON The UN Security Council may soon have to consider taking measures against the Khmer Rouge if it continues to undermine the Cambodian peace process, the State Department said on Thursday. The Khmer Rouge's refusal to disarm its forces constitutes a serious obstacle to the Paris57 words
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Article, Illustration64 1992-08-22 6 MANILA Philippine President Fidel Ramos held hands with former president Corazon Aquino (right) while singing during mass at a church yesterday. The service was held to commemorate the 9th anniversary of the assassination of Mrs Aquino's husband, Benigno, who was fatally shot on his arrival at the64 words
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Article75 1992-08-22 6 HONGKONG Hongkong Futures Exchange said trading hours of the Hang Seng Index and sub-Index futures market will be cut by 15 minutes in the afternoon session with new closing time at 3.45 pm from Aug 28. Trading hours for the blue-chip index and Hang75 words
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316 1992-08-22 6 Concern raised about Far East suppliers dominating US market AFP WASHINGTON An increase in US imports of textiles from Asia could jeopardise gains from the newly-signed North American Free Trade Agreement (Nafta), a leading textile institute reported on Thursday. Initial figures indicateAFP - 316 words
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421 1992-08-22 6 Reuter POIPET, Cambodia The Thai government is feeling the heat from accusations that it is putting profits before peace in Cambodia. Alarmed by the growing reputation of Thai businessmen as plunderers of their war-weary eastern neighbour, government leaders have appealedReuter - 421 words
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454 1992-08-22 6 AFP KUALA LUMPUR Three weeks ago, Kuala Lumpur Mayor Elyas Omar basked in press glory for helping his city win the bid to host the 1998 Commonwealth Games. Now he is embroiled in an ethics scandal. For the past week, there have been dailyAFP - 454 words
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SHIPS IN PORT
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Article465 1992-08-22 6 VumI Voy No Bwth AnM Dqwlure Marina Terminal 1 Batam Mum *****2 M05 21.08/2100 Batam Sayang *****2 MM atafside 2108/2300 Batamndo 2 2033S M02 atongsde 2108/1900 Garuda G70 M03 akx*ade 22.08/2300 Mahkota Exp 175/92 M04 21.08/1400 San Batam S130 M05 a»ngs*> 2108/2300 Sheraton 2 1192 M01 ato<«sOe465 words
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Article1699 1992-08-22 6 RECEIVING Of EXPORT Fa CONTAINERS AND La CARGO Record Bocki*/Balance Rsfts $*> Voy No Etb/Btr Period From To Fran 99* 23/0700 1 21/1500 21/1659 21/1900 3 22/0700 22/1159 22/1400 Aka Bhum 86A 22/2359 1 21/1500 21/1659 21/1900 2 21/1700 22/0659 22/0900 Ml Miracle 06/145 23/1000 1 21/1500 21/16591,699 words
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THE WORLD
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Article, Illustration431 1992-08-22 7 Bonn's growth forecasts for 1992 cannot be met: govt adviser FT BONN Germany is in danger of sliding into recession, one of the country's leading economists said on Thursday. Professor Herbert Hax, chairman of a group of independent government advisers known as theFT - 431 words
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Article, Illustration387 1992-08-22 7 Knight Ridder BRASILIA General Agreement on Tariffs and Trade general-director Arthur Dunkel is optimistic a consensus on a complex European farm-subsidy question can be reached in 1992, favouring completion of the Uruguay Round of world trade talks byKnight Ridder - 387 words
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443 1992-08-22 7 Reuter SCHROBENHAUSEN, Germany In what could be the biggest such joint venture in the world, German and Russian firms on Thursday formed the first joint venture between the two countries to convert arms to peaceful purposes, spokesmen for both sides said. Munich-basedReuter - 443 words
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WORLD WATCH
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51 1992-08-22 7 BEIJING China's foreign debt reached U5560.56 billion (5596.8 billion) last year, up 15.2 per cent on 1990, the State Administration of Exchange Control said yesterday. Most of the debt, about US$5O.2 billion, is medium and long-term, said the administration, cited by Xinhua news51 words
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Article91 1992-08-22 7 TOKYO Japan's money supply as measured by M-2 and certificates of deposits (CDs) grew 0.2 per cent in July from a year earlier, marking a new record low growth, the Bank of Japan said yesterday. The result was down from the 0.9 per cent growth91 words
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Article70 1992-08-22 7 LONDON The British government is to use an innovative auction process to sell £1 billion (Ss3.l billion) of its roughly £5 billion loans made to privatised utility companies by the end of this financial year. Under proposals unveiled on Thursday, borrowers, including British70 words
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Article57 1992-08-22 7 MONTREAL Canada's political leaders have made a breakthrough in national unity talks by agreeing on far-reaching changes in the composition of the two Houses of Parliament. The deal balances equal representation for all 10 provinces in a reformed senate with a guaranteed percentage of seats57 words
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Article, Illustration44 1992-08-22 7 MEXICO CITY A factory on the outskirts of the city spewing fumes into the atmosphere. Environmentalists say the North American Free Trade Agreement between Canada, the United States and Mexico, signed last week, could bring more poison to Mexico's rivers and air.44 words
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Article57 1992-08-22 7 MOSCOW The Russian Finance Ministry is to pay Canada money owed for imports of wheat, Interfax news agency said on Thursday, quoting the head of Exportkhlett trading company, Oleg Klimov. Canada recently suspended its wheat shipments to Russia because of the debts, which Mr Klimov57 words
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566 1992-08-22 7 Reuter BEIJING China's supreme leader Deng Xiaoping turns 88 today, virtually assured of approval for his economic reform plans but with no obvious successor to turn the dramatic vision into reality. Despite doubts among ideological purists, a Communist Party congressReuter - 566 words
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Article, Illustration199 1992-08-22 7 AFP, AP LONDON Acting Russian Prime Minister Yegor Gaidar told thousands of Muscovites attending a rally in the Russian capital on the anniversary of last year's coup attempt that reform, democracy and Russia were indivisible. The speech, outside theAFP,; AP - 199 words
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349 1992-08-22 7 Reuter TORONTO Canada's inflation rate is among the lowest in the world, according to July consumer prices released on Thursday, which show room for interest rates to fall further as the economy falters. The government said Canada's consumer price index edged upReuter - 349 words
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453 1992-08-22 7 Reuter BAGHDAD A plan by Gulf War allies to bar Iraqi aircraft from southern Iraq is unlikely to break President Saddam Hussein's grip on the Shi'ite Muslim heartland, diplomats said on Thursday. Only by risky additional steps, like pumping weaponsReuter - 453 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration3427 1992-08-22 8 Genevieve Cua - Sentiment underpinned by Nikkei's strong finish By Genevieve Cua BLUE CHIP shares staged a technical rebound yesterday on bargain-hunting by both institutional and retail investors. A broker said there was a "slight return to confidence", and sentiment was underpinned by the Nikkei's strong finish3,427 words
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Article, Illustration94 1992-08-22 8 Quak Hiang Whai - Quak Hiang Whai FAR East Levingston Shipbuilding has shed over half of its value since the start of this year to below $3. The stock appears to be taking a breather now as all the indicators are pointing towards a correction. The daily and weekly RSIs are beginningSOURCE: BRIDGE INFO - 94 words
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Article2968 1992-08-22 9 GE Life 1040 +40 +4.0% FAN 945 +30 +3.3% Keppel C Wt 304 24 8.6% Jurong Ship 50* 700 20 +2.9% OCBC Foreign 1120 +20 +1.8% SIA Foreign 1460 20 +1.4% SPH 840 20 2.4% SPH Foreign 1200 20 +1.7% UOB 640 +20 +3.2% UOB2,968 words
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Page 9 Advertisements
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Advertisement138 1992-08-22 9 Shinel YOUR KEY TO BETTERBUSINESSDECISIONS! Shine is Singapore Press Holdings' 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. or Tony Chia JH videotext system in the world.138 words
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Article3104 1992-08-22 10 Gcntings SO* 770 30 +4.1% Magnum Corp 50* 424 +18 +4.4% Dunlop Est 170 +15 +9.7% MISC Foreign 408 +10 +2.5% Tasek Cement 265 +10 +3.9% MAS 356 +8 +2.3% NST 242 +7 +3.0% MCB Hldgs 50* 76V, +6 +8.5% Sungei Way 191 +6 +3.2%3,104 words
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Page 10 Advertisements
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Advertisement145 1992-08-22 10 ELECTRONIC games We're talking about Shine, Singapore Press Holdings' on-line interactive information network on Teleview. With over 30,000 screens of well-packaged and designed information, Shine covers a wide range of editorial on business, lifestyle, education, and travel! Text is meticulously edited to make it reader-friendly. Full colour photos and graphics145 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration5251 1992-08-22 11 Bernama SPECULATIVE buying support aided by Tokyo's third straight day of rises took share prices here to a higher close in quiet conditions yesterday. The KLSE Composite Index at the close firmed up 2.85 points to 567.06, the Industrial Index 8.76 points atBernama - 5,251 words
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CHINA STOCK EXCHANGES
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Article, Illustration372 1992-08-22 12 Reuter CHINA shares continued to slip in dull trade, with Shenzhen B shares hitting a record low in turnover, Hongkong brokers said. Credit Lyonnais Securities' daily report attributed the market softness to a lack of trading incentives, as Shenzhen B shares hitReuter - 372 words
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JAKARTA STOCK EXCHANGE
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Article, Illustration933 1992-08-22 12 SHARES prices continued their downward drift in quiet, dull trading ending the week with losses across the board. "There's still a lot of selling pressure," said one dealer who predicted the half-day trading would bring the Official Index below 300. It closed933 words
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STOCK EXCHANGE OF THAILAND
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Article, Illustration1667 1992-08-22 12 Reuter PROPERTY shares closed off their highs yesterday as afternoon profit-taking trimmed earlier gains, brokers said. The SET Index ended 2.80 points higher at 761.20 on large turnover of 10.09 billion baht. Major property developer Krisda Mahanakorn was the most active issue, ending six bahtReuter; Source: Bridge Info - 1,667 words
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Page 12 Advertisements
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Advertisement68 1992-08-22 12 MIUIW 111 IMLIIIMIK All! II I I 111 lA. I 1 ■I 1 I I I 111 111 II I I Find out in I I| I I HI I H I I I r I I| I I I I Personal Investment and Finance. IC I I I Ift68 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2555 1992-08-22 13 AP SHARE prices soared over 6 per cent yesterday on the Tokyo Stock Exchange, continuing a rally spurred by government promises of help for ailing financial institutions. The US dollar edged up against the yen. The 225-issue Nikkei Stock Average rose 949.12 points, or 6.22AP - 2,555 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration2430 1992-08-22 13 Reuter SHARES rebounded moderately on technical factors after Thursday's 139-point plunge and Tokyo stocks' 6-per-cent bounce back above 16,000 yesterday. The blue-chip Hang Seng Index gained 27.78 points to close at 5,509.39, off the intraday high of 5,532.61. Turnover dropped to HK52.62Reuter - 2,430 words
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AUSTRALIAN STOCK EXCHANGE
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Article, Illustration2055 1992-08-22 14 Reuter SHARES yesterday drifted dully in a tight range, closing only slightly firmer despite the Nikkei's surge up through 16,000 in Tokyo. "The Nikkei's performance certainly hasn't rubbed off over here," one broker complained, "This market's well and truly in the doldrums.Reuter; Source: Bridge Info - 2,055 words
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REGIONAL STOCK MARKETS
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Bank's slide pulls down Manila shares
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Article54 1992-08-22 14 Clow Pi trio— 1 1- A* 21 '7* NEW ZEALAND NZSE-40 Capital 1.490.24 1,491.06 -4012 MAMIA Composite Index 1,475.12 1,490.57 -t5MS Turnover (mil pern) 294 376.9 4$,9 TAIPEI Weighted Price Index 3,866.22 3,733.06+133.16 Turnover (NTS billion) 25.88 214 +3.48 SEOUL Composite Stock Index 459.07 467.70 -8.63 Turnover (billion woo) 125.554 words
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Article573 1992-08-22 14 A WAVE of panic-selling of Philippine National Bank shares and a fall in telephone stock PLDT in New York pulled down stock prices yesterday and brokers hope bargain hunting would push them up next week. The Manila Stock Exchange Composite Index fell 1 S.4S points to close at 1,475.12.573 words
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Article289 1992-08-22 14 THE New Zealand share market closed the week drifting lower yesterday, the leaders easing marginally on overseas weakness while most of the market focused on a rash of second-line stock results. The NZSE-40 Capital Index closed 10.82 points lower at 1,480.24, dragged lower by slight falls in Telecom,289 words
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Article487 1992-08-22 14 A STRONG technical rebound and rises in the Tokyo market pulled Taiwan share prices 3.6 per cent higher yesterday. Brokers said quick profit-tak-ing could emerge soon, but the strong buying trend would last in coming days. The Weighted Index surged 133.16 points to end at 3,866.22. Turnover rose to487 words
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Article91 1992-08-22 14 SHARE prices ended broadly higher after a slump during early trading yesterday was reversed by a bull rally, brokers said. Share prices declined in unofficial deals after trading hours yesterday and the trend continued, broker Dinesh Val- ji said. It was in reaction to a rumour that a leading91 words
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Article795 1992-08-22 14 INVESTOR doubts about the effectiveness of anticipated market-boosting measures spurred selling yesterday, driving the index down 8.63 points to 459.07, its lowest in nearly five years, brokers said. "There's no real negative news today only that investors had hoped the government would announce bail-out measures and that did not795 words
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WORLD STOCK MARKETS
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US stocks suffer second consecutive fall
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Article, Illustration1208 1992-08-22 15 lUS STOCKS slid for the second straight day on Thursday in lacklustre trading as investors cautiously awaited President Bush's acceptance speech at !the Republican National Convention "that was expected to outline steps to spur the flagging economy. -——The Dow Jones Industrial Average, Twhich plunged 22.42 points on Wednes-1,208 words
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Article219 1992-08-22 15 SHARE prices in Frankfurt continued to fall on Thursday and the DAX Index closed at a new record low point this year, losing 0.76 per cent or 11.66 points to 1,513.06. The market was undermined by the weakness of the dollar which fell to a record low point at219 words
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Article256 1992-08-22 15 DUTCH shares ended a featureless session lower on Thursday, slipping along with the London stock market which gave up much of its 12-point morning gain. The dollar's weakness also continued to weigh on the market. The EOE Index ended 0.77 point lower at 282.48 after it rose to 284.73256 words
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Article276 1992-08-22 15 DIZZYING declines in oil firms Total and Elf dragged the CAC-40 Index down in relatively quiet trade on Thursday. Outside the drop in the two shares, which represent 12.24 per cent of the CAC-40, dealers said there was little action on the Paris exchange, with Maastricht and Bundesbank anxieties276 words
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Article264 1992-08-22 15 ITALIAN shares received a boost on Thursday from a newspaper report that a group of investors was studying a proposal to buy the state's stake in Banca Commerciale Italiana, but the market closed off session highs. The II Sole-24 Ore financial daily on Thureday said a group of Italian264 words
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Article, Illustration726 1992-08-22 15 THE London Stock Exchange closed slightly lower on Thursday as traders reacted to a decline in the pound to a new low against the deutschemark and wiped out an early 13-point gain. The FTSE-100 Index, which rose 13 points in early trading, closed 4.1 points down at 2,359.4. The726 words
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Article284 1992-08-22 15 SWISS shares ended a lacklustre session lower on Thursday. A weak dollar and interest rate pessimism dragged share prices down. After a mixed start business was dominated by professionals ahead of yesterday's expiry of SofTex options. A bout of selling due to the sudden drop of the dollar in284 words
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Article143 1992-08-22 15 SWEDISH shares closed at a new yearlow on Thursday as rates rose following the central bank's move to raise the marginal lending rate by one full point to 13 per cent. Dealers also said that Ericsson, despite reporting a better than expected six-month profit, had failed to reverse the143 words
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Article169 1992-08-22 15 A CONTINUED technical rally after recent losses pushed Belgian shares to a higher close on Thursday. Trading was moderate and concentrated mainly in oil major Petrofina and retailer Delhaize. The Bel-20 Index closed up 4.27 to 1,102.99, with some 700 million francs worth of Belgian shares traded. Traders said169 words
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Article376 1992-08-22 15 INVESTOR demand for relatively re-cession-proof stocks saw financial and industrial blue-chip shares attract interest on the Johannesburg Stock Exchange on Thursday. But mining shares led by De Beers and Anglos took a beating as the combination of a strong financial rand unit, an easier bullion price and the sharp376 words
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Article303 1992-08-22 15 CANADIAN STOCKS ended stronger on Thursday, out-performing Wall Street as the Toronto Stock Exchange's heavily-weighted Canadian bank shares continued to lead gainers. The TSE-300 ended up 18.18 to 3,403.7 on a volume of 23.2 million shares valued at C 5266.9 million. Advances outstripped declines 303 to 229 with 68303 words
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Article116 1992-08-22 15 Aug 20 Close Previous NEW YORK Dow Jones 3,304.89 3,307.06 -2.17 SAP 500 418.26 418.18 +0.08 Turnover (million) 183.42 187.07 -3.65 LONDON Financial Times 30 1,757.5 1,765.6 -8.1 FTSE 100 2,359.4 2,363.5 -4.1 Turnover (million) 425.9 390.5 +35.4 FRANKFURT DAX Index 1,513.06 1.524.72 -11.66 AMSTERDAM EOE Index 282.48 283.25 -0.77116 words
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Page 15 Advertisements
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Advertisement7 1992-08-22 15 Advertising Marketing in Business Times every Thursday7 words
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CURRENCY, MONEY & FUTURES MARKETS
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1174 1992-08-22 16 REPORTS ASIA f TOKYO: The dollar ended higher against the mark yesterday on active short-covering, but light profit-taking selling pushed it down from early highs, dealers said. Short-covering came in before Tokyo midday on nervousness over possible dollar-buying by European and1,174 words
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Article378 1992-08-22 16 Cross rates Aug 20 USS SS MS Dm Yen SFr AS NZS USS 1.6085 2.4960 1.4475 126.10 0.5157 1.2850 1.3831 1.8536 SS 0.6217 1.5518 0.8999 78.3960 0.3206 0.7989 0.8599 1.1524 MS 0.4006 0.64 0.5799 50.5208 0.2066 0.5148 0.5541 0.7426 Dm 0.6908 1.1112 1.7244 87.12 0.3563 0.8877 0.9555378 words
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Article533 1992-08-22 16 Interbank rates s$ Bid Offer Overnight 2 1/2 2 3/4 1-month 2 5/16 2 7/16 2-month 2 3/8 2 1/2 3-month 2 7/16 2 9/16 Overnight mode: 3-5/8 US> Bid Offer 7 days 3 5/16 3 7/16 1 month 3 3/8 3 1/2 2 months 3 3/8 3533 words
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222 1992-08-22 16 Reuter WELLINGTON The watchdog New Zealand Securities Commission has attacked practices at the New Zealand Futures and Options Exchange (NZFOE) which allowed individuals employed by members to trade in their own right. In a discussion document the commission noted that one person,Reuter - 222 words
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Article1568 1992-08-22 16 SIMEX EIIMOOiLAK Open High Low Sett Est Vol Act/Vol Op/lnt Sep 92 96.63 96*4 96*1 96*2 2379 2092 ***** Dec 92 96.44 96 46 96.39 96.43 ***** 3803 ***** Mar 93 96 43- 96 45 96.33 96.41 ***** 2083 ***** 96.42 Jun 93 96.13 96.16 96.09 96.13 47231,568 words
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Page 16 Advertisements
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Advertisement7 1992-08-22 16 Advertising Marketing in Business Times every Thursday7 words
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COMMODITIES
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376 1992-08-22 17 Reuter SINGAPORE The AsiaPacific market will account for about two-thirds of new worldwide oil demand in the *****, indicating a need for a considerable amount of balancing trade in view of a con---finued shortage of refinery r~Capabilities, a study byReuter - 376 words
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240 1992-08-22 17 Reuter GUWAHATI, India Russia, the biggest importer of Indian tea, may stop buying soon and trigger a steep fall in auction prices, Indian Tea Association chairman Hemen Prasad Barooah said on .Thursday. Russia has exhausted its credit for Indian tea, worthReuter - 240 words
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753 1992-08-22 17 REPORTS THE PRICE of tin closed four cents up on the Kuala Lumpur Tin Market (KLTM) yesterday at M$ 16.76 a kg on sellers' reserve and light local buying ahead of the weekend, traders said. They said a steady London market overnight aided753 words
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Article1516 1992-08-22 17 Rubber MS Ci—iflt) Excfc—f |Mwi dmlmg a» at Ipw) >S$ 1 C—tract (S cents/kg) Qose Volume Open f Month High Low Sett (tonnes) Interest Sep 92 141.00 140.75 141.00 200 1,725 "Oct 140.25 139.50 139.50 750 3,400 „.Nov 139.00 138.50 138.75 175 3,375 Dec 138.75 138.25 138.50 75 3,7501,516 words
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Page 17 Advertisements
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Advertisement1037 1992-08-22 17 _g_US_I NESS TIMES Toll free Tel No 737 0043 «Fax No: 734 3608 LOST CERTIFICATES Tha following cemficatas have been raportad lost, msJaid or destroyed Nairn of Cwipmr Ca>tNo>. Into nana el No. ofSh*«« M»CO Poto A *****62/64 Ovrnaas Untei Bv* Lkn4 l Nomina* Pit LU 211,000 0«M Uned 001S2KS1,037 words
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Article, Illustration594 1992-08-22 18 &SMESjDE£TpiL* Polls show the president catching up on Clinton Reuter HOUSTON President George Bush on Thursday promised Americans sweeping tax cuts and "economic superpower" status if they grant him a second term and painted Bill Clinton as a slippery economic ogre whoReuter - 594 words
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305 1992-08-22 18 AFP, Reuter BATTLE CREEK, Michigan The Clinton campaign criticised the tax cut proposal that President Bush made in his acceptance speech at the Republican convention saying Mr Bush was trying to "buy" the election. Mr Clinton said Mr Bush's trickle-down economics has "madeAFP,; Reuter - 305 words
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321 1992-08-22 18 Reuter TOKYO More than 10 top ruling party politicians received billions of yen in shady money from a trucking firm at the heart of Japan's latest funding scandal, the daily Asahi Shimbun reported yesterday. Asahi said Sagawa Kyubin, whose topReuter - 321 words
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259 1992-08-22 18 NYT TOKYO The Ministry of International Trade and Industry (Miti) is planning to set up a semi-public corporation by next March aimed at assisting foreign companies to invest in Japan, a ministry official said on Thursday. The corporation, to be established asNYT - 259 words
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365 1992-08-22 18 Saddam meets ruling council to review West's move Reuter, UPI NICOSIA, Cyprus Iraq on Thursday rejected a Western plan to create a safe haven for Shiites in southern Iraq as an "imperialist conspiracy" and said it would not accept Western controls over theReuter,; UPI - 365 words
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249 1992-08-22 18 AFP MANAGUA Mexico and five Central American governments signed an agreement on Thursday laying the groundwork for bilateral free trade accords between Mexico and its southern neighbours. The framework was designed to ensure that the largest nation in the agreement Mexico doesAFP - 249 words
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390 1992-08-22 18 KnightRidder BANGKOK Former Thai Prime .Minister Suchinda Kraprayoon, forced to resign in May after several days of massive street protests, said he would never again enter politics, Bangkok Post reported yesterday. Mr Suchinda, in an exclusive interview on Thursday with the Post's Thai-languageKnight- Ridder - 390 words
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Article, Illustration392 1992-08-22 18 Scalpers face fines of SsB,ooo and criminal chaiges AFP HONGKONG Chinese authorities in the Shenzhen Special Economic Zone (SEZ) are warning would-be investors they face criminal charges if they scalp their share application forms, sources said yesterday. Scalpers of the forms,AFP - 392 words
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Page 18 Advertisements
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Advertisement6 1992-08-22 18 INVESTMENT Every Saturday in Business Times6 words
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Advertisement9 1992-08-22 18 More risky steps neededto weaken Saddam's grip, Pg 79 words
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Advertisement5 1992-08-22 18 Every Saturday in Business Times5 words
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Executive Lifestyle
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Article, Illustration998 1992-08-22 19 Irving Wardle - It was the wrong place and the wrong time, but the idea just grew and grew. As this year's Edinburgh Festival gets underway, Irving Wardle of The Independent on Sunday reflects on its success Irving Wardle BY RIGHTS, the Edinburgh Festival ought to have vanished years ago,998 words
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STRAWS IN THE WIND
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Article57 1992-08-22 19 WHAT'S in a name? A lot, it would seem. Informed sources say there is a chef working at a local hotel whose surname is Benz. As luck would have it, he married a woman named Mercedes. Now perhaps all Mrs Mercedes Benz needs to do is have two57 words
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Article111 1992-08-22 19 HIGH society ladies were all abuzz when word got out that Prince Albert was supposed to grace a fancy charity event to raise money for the University Endowment Fund. Each table would cost $20,000, it was said, and it would be THE social event of the year.111 words
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Article33 1992-08-22 19 ON THE curriculum vitae of the Fitzgerald woman who was supposed to have had an affair with President George Bush: "Served in various positions under the President of the United States."33 words
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Article22 1992-08-22 19 WALL STREET joke: What's the difference between Dan Quayle and the 30-year Treasury Bond? Answer: The Treasury Bond eventually matures.22 words
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OPINIONS
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911 1992-08-22 20 Toh Teck Sun - Toh Teck Sun puts the over-savings issue in perspective Toh Teck Sun The writer is BT's Features Editor WHEN economists don't know the answer to a problem, they sometimes change the problem. This seems to be the case in ■the debate on why911 words
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Article, Illustration662 1992-08-22 20 Kavi Chongkittavorn - Kavi Chongkittavorn on what Thailand can do to support the peace process in Cambodia Kavi Chongkittavorn The writer is South-east Asia editor of Bangkok newspaper The Nation KHMER ROUGE guerillas are being accused of obstructing United Nations efforts to bring peace to Cambodia,662 words
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Article, Illustration896 1992-08-22 20 Ricky Goh - Ricky Goh Singapore Hotel Association THE Singapore Hotel Association notes with regret that Business Times (Aug 20) published a page one lead article that is speculative and based on hearsay, unverified comments and unnamed sources. It lacked perspective and was filled with harsh,896 words
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256 1992-08-22 20 Oliver Wright - Oliver Wright IN YOUR REPORT of July 7 on deregulation measures in Indonesia, yon stated that foreigners involved in joint ventures in Indonesia can now "directly obtain the right of use (of land) for up to 30 years and seek an extension for another256 words
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Article236 1992-08-22 20 Nigel Pitcher - Nigel Pitcher WITH REFERENCE to your article "ICL to invest $8 million in its Jurong plant", I would like to point out that though ICL is owned 80 per cent by the Fujitsu Group and 20 per cent by Northern Telecom, it is not236 words
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ENTERTAINMENT
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Article, Illustration915 1992-08-22 21 Michelle Low - Stargazers who turned up at the charity gala dinner for this year's Singapore Celebrity Golf event must have been disappointed when only three of the 10 listed celebrities turned up. Micnelle Low reports Michelle Low THE AIR was thick with hairspray and perfume. Small talk tittered its way915 words
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Article, Illustration583 1992-08-22 21 RINGO LIEW - CD Review By RINGO LIEW PREFAB SPROUT: The Best Of Prefab Sprout A Life Of Surprises In the parlance of music magazines, critic's choice usually describes a group that leaves all those reviewers in their horn-rimmed glasses and mock turtlenecks in a frenzy, but whose album583 words
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Article, Illustration971 1992-08-22 21 Dawn Tan - Ernie Watts and Jeremy Monteiro talk to Dawn Tan about their latest project Dawn Tan THERE'S no getting a handle on contemporary jazz and thank God for that. As one of those Americanspun genres, the rules of jazz are constantly rewritten. For every mainstreamer or jazz971 words
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EPICURE
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Article, Illustration502 1992-08-22 22 Michelle Low - Michelle Low finds out what's cooking at Minjiang and Garden Seafood Michelle Low WHAT do you do when your restaurant turns 10? Have a Jubilant 10th Anniversary Celebration. That's what Goodwood Park Hotel's Minjiang and Garden Seafood restaurants will be doing from Sep 1. While the two have502 words
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LIFESTYLE
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Article661 1992-08-22 23 Mary MacVean - Vegetarians are adopting new ways to stay healthy, says Mary MacVean Mary MacVean AP AT THE Source, the Hollywood restaurant where Woody Allen ordered a fictional plate of mashed yeast in his movie Annie Hall, vegetable burgers outsell hamburgers 10 to one, says owner Winton Winslow. IfAP - 661 words
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538 1992-08-22 23 N K Yong - WINE By N K Yong CHATEUNEUF-DU-PAPE, the name itself is a mouthful, it comes from the hot southern region of France, the wine is made up of a mixture of up to 13 grapes, most of whose names are unfamiliar it is not538 words
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PEOPLE
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Article, Illustration207 1992-08-22 23 INDONESIAN expatriates celebrated their homeland's 47th National Day with a reception at the Chatsworth Road embassy last Tuesday. Guest of honour Foreign Affairs Minister Wong Kan Seng clinked glasses with his host, charge d'affaires Iskandar Dinata while they toasted to President Suharto's health. AlsoPhotos by Chris Loh and Arthur Lee - 207 words
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Article, Illustration155 1992-08-22 23 PARTNERSHIP, as they say, is the key to business success. And that was what they were; drinking to at the Raffles Ho-; tel recently, when it was announced that the Economic Development Board wouldput up $13 million to help" build a new centre for the155 words
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PURSUITS
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Article, Illustration243 1992-08-22 24 Samuel Ee - Things can look pretty different when you're well and truly framed. Samuel Ee picks out some designers who have expanded their fields of vision Samuel Ee GONE are the days when anything less than 20/20 vision doomed you to a life of looking like an educatedAll photos by Chris Loh - 243 words
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Article, Illustration628 1992-08-22 24 Susan Tsang - Susan Tsang has good news for those who love great paintings but lack the millions of dollars needed to buy an onginal Susan Tsang AS SINGAPORE gets more affluent, people start casting about for other fine things in life besides good restaurants. Apart from snob value, travelling abroad628 words
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Article, Illustration520 1992-08-22 24 Neville Stack - Neville Stack finds Napier, New Zealand, a delightful architectural time capsule Neville Stack TIME doesn't exactly stand still in Napier but it doesn't move very quickly either. The biggest thing that happened in this agreeable spot in New Zealand's Hawke's Bay was the earthquake of 1931, which520 words
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REVIEWS
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Article, Illustration582 1992-08-22 25 Jaime Ee - It's Harrison Ford's turn to play Tom Clancy's CIA hero. Jaime Ee rates his performance in Patriot Games Jaime Ee IT COULD only happen to an American. More specifically, it could only happen to Harrison Ford. While the only exciting thing lesser mortals could experience582 words
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Article, Illustration439 1992-08-22 25 Cheryl Liew - Cheryl Liew finds Harley Davidson and the Marlboro Man totally unappealing Cheryl Liew AHH the Harley Davidson motorbike and the Marlboro cigarette the two ultimate symbols of ail-American male virility and macho-ness. No wonder Mickey Rourke and Don Johnson's characters never tell us their real439 words
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PERSONAL FINANCE & INVESTMENT 1
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Article, Illustration842 1992-08-22 26 Chew Eng Han - Good time to switch to US$ and Cs, but best bet is still on ringgit, says Chew Eng Han Chew Eng Han The writer is assistant manager of investments with NTUC Income Local investors who have invested in major currencies such as the deutschemark and842 words
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Article, Illustration552 1992-08-22 26 Chew Eng Han - By Chew Eng Han The writer is assistant manager of investments with NTUC Income CHARTPOINT's call on Aug 1 for a drop to 1,380 has not only been met, but far exceeded. The index did peak at 1,455 in early August, and subsequently dropped to,552 words
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Article, Illustration325 1992-08-22 26 Kooi Cho Teng - Kooi Cho Teng updates the BT Golf Index Kooi Cho Teng POISED to recover more lost ground, the BT Golf index of Singapore clubs rose 5.42 points or 2.19 per cent to 253 points in July. Membership prices were generally firmer, possibly due325 words
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613 1992-08-22 26 Leslie Yee - Analysts feel that the current depressed stock prices provide a chance for investors. Leslie Yee reports Leslie Yee The local stock market is now in the doldrums with more than half of the gains made since the final months of 1990 having been wiped out.613 words
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Article752 1992-08-22 26 S N Vasuki - What are defensive stocks? Brokers and analysts are divided on the issue. S N Vasuki finds out S N Vasuki INVESTING in so-called "defensive" shares is a time-tested strategy to protect your investments during a bear market. While the jury is still out on whether752 words
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Article, Illustration1079 1992-08-22 27 Shoeb Kagda - A word of caution from Shoeb Kagda before investing in property Shoeb Kagda Of all millionaires, 90 per cent become so through owning real estate and a wise young man or wage earner should invest his money in real estate Andrew Carnegie INVESTING inSource: Richard Ellis Research,Singapore - 1,079 words
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SPORTS
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SIDE LINES
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74 1992-08-22 28 STOCKHOLM Bjorn Borg appeared in court to face claims for some U*****,000 (S$ 1.2 million) in unpaid debts from 11 Swedish companies who lost money when his investment group was declared bankrupt in 1990. The five-time Wimbledon champion's lawyers argued he74 words
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Article73 1992-08-22 28 LONDON Players called up for England soccer duty will have to provide a medical certificate to prove they are unfit. The Football Association is clamping down on players crying off with injury with important World Cup qualifying games coming up and with the World Youth Championship73 words
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Article, Illustration41 1992-08-22 28 MOSCOW Russian leader Boris Yeltsin (left) and president of the International Olympic Committee Juan Antonia Samaranch posing on Thursday for a picture during a reception given to Russian sportsmen who took part in the recent Olympic Games.41 words
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Article74 1992-08-22 28 AJACCIO, Corsica Bastia's Furiani stadium, where 15 people were killed when a temporary stand collapsed during a French Cup tie last May, will no longer be used for soccer. "Football in Corsica must go on and so must the local club but football must no74 words
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Article54 1992-08-22 28 MONTREAL Patricia Hy, Canada's top-ranked player, reached the quarter-finals of the Matinee International Canadian Open tennis tournament on Thursday with a 6-3, 6-3 upset win over fifth-seeded Katerina Maleeva. Hy will have to get past top-ranked Monica Seles to become the first Canadian to reach the semi-finals54 words
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371 1992-08-22 28 McEnroe upsets Guardiola and TV camera AP NEW HAVEN, Connecticut John McEnroe attacked the net and a television camera to survive a challenge by Thierry Guardiola as tennis again took centre court at the Volvo International on Thursday. McEnroe was at his ranting and raving best or worst as heAP - 371 words
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Article, Illustration478 1992-08-22 28 Dave Stockton, Chi Chi Rodriguez among seniors taking part AP KENMORE, Washington Mike Hill, defending champion in the GTE Northwest Classic, comes into the tournament riding high again. Hill has won three Senior PGA tournaments this season and is second onAP - 478 words
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Article, Illustration627 1992-08-22 28 Hal Bock - Hal Bock finds the boxing promoter in a fighting mood at his birthday party Hal Bock AP NEW YORK To celebrate his 61st birthday on Thursday, promoter Don King delivered one of his patented dissertations on the state of boxing's union, mentioning among othersAP - 627 words
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472 1992-08-22 28 AP BROOKLYN PARK, Minnesota Cindy Rarick has made a lot of birdies this season on the LPGA Tour. That's why she can't understand how she hasn't made more money. Rarick, defending champion at the Northgate Classic, is among the tour leaders inAP - 472 words
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Article, Illustration633 1992-08-22 28 Connors upsets Ferreira in US Hardcourts AP INDIANAPOLIS Jimmy Connors did it again. Tennis' old man staved off an upstart youngster in the US Hardcourts on Thursday. Connors upset fifth-seed-ed Wayne Ferreira 6-3, 6-2 in just over an hour to advance to a quarter-finalAP - 633 words
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Article1276 1992-08-22 29 CHy FHght ETA FHgM ETO MmM GA860 0045 QF81 1955 QF82 2205 SQ228 2025 kmmam RJ187 0130 MhMM SQ319 0715 KL837 1255 GA890 0150 KL838 2240 SQ342 2325 Auckland NZ21 1820 MZ22 1940 SQ286 2030 GF148 0855 GA525/910 1755 1 Sari hffww SQ181 1410 SQ182 09151,276 words
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THE TRAVEL PAGE
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Article, Illustration647 1992-08-22 29 Francois Raitberger - LETTER FROM PARIS By Francois Raitberger THERE may be nicer things to do on a summer holiday in Paris than tour the sewers. Yet, every day, hundreds of tourists take time away from the palace of Versailles or the Louvre museum to plunge into the647 words
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Article151 1992-08-22 29 As at 10am yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.1553 1.1712 Canadian dollar 1.3342 1.3612 NZ dollar 0.8580 0.87S5 Sterling pound 3.1055 3.1475 US dollar 1.6050 1.6120 Local dolhus to 100 nits of fcaeJga cwmcy Austrian (chilling 15.61151 words
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Article36 1992-08-22 29 Duration Title Venue Organiser Tel Sep 19-22 International Pans Scmaine (33)1/*****002 Leather Week Internationale Du Cuir Duration Title Venue Organiser Tel Sep 12-29 International Turin. Italy Torino *****369 Caravan Caravan Esposizionio Equipment Exhibition36 words
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Article583 1992-08-22 30 A Captive In The Land. Sweeping epic about struggling against the odds in the harsh Arctics Jade Classics: 11; 1.30; 4; 6.30; 9. Beauty And The Beast. Delightful Disney cartoon. Yishun 10: 10.50; 5.15. Beethoven. Cloyingly all-American, but good fun. Yishun 10: 2.50; 4.50. Beethoven's Nephew. Mishmash of fact583 words
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TIME OFF
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Article145 1992-08-22 30 Singapore Symphony Orchestra: The Best of Chinese Ballet Lim Yau conducts this Familiar Favourites programme that features Du Ming Xin's The Mermaid Suite, Huang An Lun's The Little Match Girl and excerpts from The White-Haired Girl and The Red Detachment of Women. Venue: Victoria Concert Hall. Today. 8.15pm. Singapore145 words
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Article, Illustration383 1992-08-22 30 The Art of Ang Chee Theng Spontaneity, freshness and vibrant colours are the hallmarks of Ang Chee Theng's works. Singapore's past, portraits, sceneries and flowers are among some of the varied subjects depicted in his paintings. An 80-page catalogue which highlights 65 of his paintings is also available at383 words
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Page 19 Advertisements
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Advertisement239 1992-08-22 19 HD 0 |334 3 5 8 8 3343 6 8 8 i GEographique. Around the world in 24 hours. THE WORLD NEVER SEEN A V»^H WATCH THE MECHANICAL gcographique BEFORE: FASHIONED P*2«ry IN 18 K COLD. IT iv A Setting new standards in AUTOMATICALLY SIMPUCITY. TURN THE LEFTSHOWS THE LOCAL239 words
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Advertisement63 1992-08-22 20 LETTERS TO THE EDITOR •BT welcomes letters 3 y from you. Address K them to: The Editor, A r Business Times, 390 S S Kim Seng Rd, S'pore r r 0923. Letters should S j include your contact r r numbers. J N®T SURE WHERE T® PUT Y@UR M-NEY? Get63 words
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Page 20 Miscellaneous
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Miscellaneous47 1992-08-22 20 DOONESBURY GARRY TRUDEAU I ITS NOTFORHB.OFCOUKSe. BUT A "iOUNS HBW WlFt DOS& ASK MS. THE V/lL NE&TOKS&N GME JIM A PfHAMiC tMAGS. ONLYTHNSfT HTTHABIMBO, I A WOMANUK£ THATVAUOOTES I VAUOffTES/S JUHYPOtfTVOU COUP L. HtS SUCCESS IN HIS FAILURE fis JUST RENTONE J? AT HOME: &GM AN ESCORT47 words
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Advertisement273 1992-08-22 21 EXECUTIVE APPOINTMENTS ri i i i rl lil rl The selected Sri 3 Managing i Lan k a n 1111:13 M l||:l Director must candidate wiH be be capable of i responsible for providing the continued leadership in growth in earnings, over 291% in 1991, the design of computer applications273 words
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Advertisement965 1992-08-22 22 M Nothing Beats A Bud. where to wine, dine or GENUINE PENANG FARE LET OUR PENANG CHEF INTRODUCE HER NEW RECIPES AT THE NEWLY RENOVATED PRINCESS TERRACE CAFE THE PLACE FOR AUTHENTIC PENANG SPECIALITIES. A RENDEZVOUS FOR FINE MEALS AT CAFE PRICES, OR LIGHT SNACKS WITH GOOD FRIENDS. IClNG'S amember965 words
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Page 23 Advertisements
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Advertisement241 1992-08-22 23 AND ENTERTAIN In the month of August, a fashion extravaganza awaits you at the Fountain Lounge: August 1 Toselli August 8 Vlaspiga Boutique August 15 Tosclli August 22 Vlaspiga Boutique August 29 Toselli Enjoy a leisurely Saturday afternoon tucking into delicate French pastries, dianxin and sandwiches... and a freshly-brewed cup241 words
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Advertisement200 1992-08-22 25 DISTINGUISHED NAMES It's not what you know but WHO you know. Porcelain and crystal can be forever. The quintessence of an enduring gift for all important occasions functional, tasteful and simple. We have a priceless selection of gifts to make memorable moments that extra special. Give them |&y JS something200 words
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Page 26 Advertisements
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Advertisement7 1992-08-22 26 Advertising Marketing in Business Times every Thursday7 words
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Advertisement309 1992-08-22 27 Someone ck»e has been Ivte Your son in Canada is studying for some years, overseas. Ww given up RNtrIS And you tSSJKf IMN i u| m long letters. want him The Straits Times ■U|uJH close to home Weekly tells it bettet -with news (He might from home. comeback after reading309 words
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Advertisement236 1992-08-22 27 IT? T*T% T? t HgJ w 1 Jk. 4 .^fl P It's Quick and Easy. Get instant H C cash for your shares over the k 1 counter at any of our 28 branches. Use the loan for any purpose. Loans from $2,000 to $100,000. MANY OF OUR CUSTOMERS HAVE236 words
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Page 29 Advertisements
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Advertisement41 1992-08-22 29 Discover the lengths Finnair go for just one price. A superb twice-weekly service from Singapore direct to Helsinki and daily connections to over 35 European destinations- all for one price. Call *****77 for details We knew Europe from start to Ptnniah.41 words
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Advertisement24 1992-08-22 29 Difficulty in getting a copy of Her World, Go. Singapore Business, Home Decor, Young Parents? Call our Hotline 749-2577 for locations of nearest newsstands.24 words
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Advertisement54 1992-08-22 29 The if Mellorf Affair f Britain's "Minister of Fun", David, Mellor, and rising Spanish actress Antonia de Sancha fell in love HRRHIII at first sight at his favourite H|l|Hl||ljß London restaurant. BIMWiM What followed was three months of passionate romance that turned into a political scandal. The revelations in WtJCk54 words
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Page 29 Miscellaneous
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Miscellaneous258 1992-08-22 29 1 Old soldier puts tree, sawn 5 Agreeable pupil leaving countryman (7) 10 Obtain an item of furniture that is accessible 11 I I I I I I I I I I Reckoning am the eastern depot (10) 12 The last one sees of the *14 Performing like marathon *18258 words
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Miscellaneous163 1992-08-22 29 Singapore Outlook: Showers over sereral areas in the morning. Report Maximum temperature 30.1 Assoc humidity 78% Minimum temperature 24.3 Assoc humidity...- 97% Hours of sunshine 1.30 Rainfall in mm 4.0 Rainfall this month 66.S Rainy days this month 7 World report Asia-Pacific Hi/Lo* Cood. Auckland 15/09 Cloudy Bangkok 34/25 Cloudy163 words
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Miscellaneous24 1992-08-22 29 VD UKE. P. L£TTuC£ U6AF SmOTnefceO n(?s coujcposs... fro ow) I in Mfv/oNNPiise..... fk strict Dier.. v j—y —-j 8745 awociath) mmoiwi ltd, m*tm24 words
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Page 30 Miscellaneous
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Miscellaneous1680 1992-08-22 30 TODAY'S TV H| Programme Bugs Dimwi)i Show. Sepotong Ireland, i 0.25 The Droamstone. 4.00pm, SBC 12.30pm, SBC Faerie Tale Theatre. love scenar- Everyone 12.00 NN Mew* (M). one should be a play baseball, 12.15 PMKalab Ihmiji Angkacut above the rest, since the scoop all the ma- time? Two *jj Indo-1,680 words
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Miscellaneous622 1992-08-22 30 MOVIES ON TV The Outside Woman, Mon, mistake, so could the US 3.00pm, SBC 5 please not counterstrike? But Sharon Gless is Joyce Mat- is he telling the truth? Powers tox, a factory worker who Boothe and Rebecca De falls for a certain Jesse James Mornay get caught up in622 words
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