The Business Times, 12 September 1992
1992-09-12
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The Business Times
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Title Section17 1992-09-12 1 Business Times THE BUSINESS PAPER FOR S-E ASIA MITA (P) 35/12/91 Weekend Edition, September 12-13 1992 75*17 words
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NEWS& MARKETS SUMMARY
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48 1992-09-12 1 WASHINGTON US wholesale prices rose a scant 0.1 per cent in August, the US government reported yesterday, providing further evidence that the stagnant economy is keeping prices in check. The rise in the Producer Price Index was the same as in July.48 words
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Article37 1992-09-12 1 ISLAMABAD At least 500 people died and tens of thousands have been uprooted as torrential rains continued to lash central and northern Pakistan the past three days, reports reaching here said yesterday.37 words
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Article43 1992-09-12 1 THE US stock market hovered around Thursday's closing levels in early trading yesterday, pausing after the rally of the past two sessions. The Dow Jones Average was up 1.36 points at 3,306.52 at 1430 GMT in the first hour of trading.43 words
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Article41 1992-09-12 1 LONDON share prices were higher at midday yesterday on the London Stock Exchange, f At* about 1130 GMT, the FFSE 100-Share Index was up 25il points, or one per cent, at 2i365.7. Volume at midday ftas 258.1 million shares.41 words
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Article23 1992-09-12 1 SENIOR trade and industry ministers yesterday made significant headway towards launching the Asean Free Trade Area (Afta) next January Page 223 words
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Article29 1992-09-12 1 A SINGAPORE property company has become the first foreign developer in Poland by undertaking a major US$7O million (S$ 111.3 million) housing-cum-retail project Page 229 words
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Article28 1992-09-12 1 LISTED DBS Land has roped in Malaysia-based Tradewinds (M) Bhd of the Pernas group for its $220 million retail project in Tampines Page 328 words
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Article, Illustration29 1992-09-12 1 Friday Change BT-MGA 659.18 -0.69 Kuala Lumpur ..580.79 -3.40 Tokyo 18.107.69 -800.78 Hongkong 5,537.29 -94.26 Sydney 1.501.2 +17.2 Thanday Change New York _..3.305.16 33.77 London 2,340.62 +13.129 words
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Article23 1992-09-12 1 Exchange rates USS SS 1.5950 100 Yen S$ 1.2842 MS SS 0.6385 Money wertiet ntes Overnight 5/8 -1/4 3-montn 1 13/16% unch23 words
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Article34 1992-09-12 1 London Gold AM fix US$341.05 USS-0.70 !rpore Oct.... 142.00*/kg +0.50 M'sia Oct 219.00«/kg +1.50 KL Tin Turnover 35tonnes -5 Spot M$16.54/kg -0.06 Cmdo palm oil Turnover.......... 783 lots -300 Sep MS873 /tonne -234 words
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655 1992-09-12 1 Leslie Lopez - Group has to work out loan restructuring by then From Leslie Lopez in KUALA LUMPUR MAJOR creditor banks of Malaysia's Innovest Bhd have given the debt-heavy food-based group a onemonth reprieve: unless it sorts out its financial troubles by then, the banks will call655 words
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Article198 1992-09-12 1 SINGAPORE Tokyo shares plunged more than 4 per cent yesterday on futureslinked selling, bringing the Nikkei Average down by 800.78 points to 18,107.69. In Hongkong, share prices tumbled for the second straight day on fears of a USChina trade war. The Hang Seng index shed 94.26 points198 words
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326 1992-09-12 1 Alvin Tay, Lilian Ang - By Alvin Tay, Lilian Ang SINGAPORE Purchases of private residential properties fell 36 per cent in August as superstitious Chinese avoided major commitments during the so-called Hungry Ghosts month, figures from the Central Provident Fund Board show. Even though the spooks are326 words
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Article, Illustration472 1992-09-12 1 Andrew Cooke, Loh Hui Yin - Run-up to tomorrow's Thai general election Can they swing enough votes to win a working majority? From Andrew Cooke, Loh Hui Yin in BANGKOK THAI VOTERS will decide tomorrow whether to give pro-democracy parties a chance to form the next government in Thailand. While the472 words
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Page 1 Advertisements
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Advertisement102 1992-09-12 1 Nikon The Wbrid't Finos* Photographic System. COVER Challenges facing the book industry EL 1 k 1 ■>» n? rmt ♦JT k i A*craft Schedule EL 11 Commodities 17 Company News 3,4 Cryptic Crossword EL 11 Futures Options 16 Interbank Fore* Rates 16 JU/BM/Chma Stocks 12 RISC 11 Monty Changer Rates102 words
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Advertisement30 1992-09-12 1 VIEWPOINT Catherine Lim on the Singapore identity el 3 OPINIONS Life in the Republic: expensive but affordable el 2 Hock Lock Siew; Who's running the show at UIC? Pg 330 words
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Advertisement249 1992-09-12 1 PURSUITS BMW scores a coup with its 3-series coupe EL 6 The movement of a watch is dust, dirt and water. It provides Rolex Oysters have climbed its heart. Precious. Delicate. For a totally secure protection for the highest mountains, dived to centuries craftsmen have striven the precision Oyster movement.249 words
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Advertisement9 1992-09-12 1 Nikon TtttWMd'tFkiMt Photographic tylm 1 1 he CEO and9 words
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Advertisement12 1992-09-12 1 FINANCE Going for gold EL 8 Predicting US polls result el 912 words
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PAGE 2 NEWS
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Article, Illustration486 1992-09-12 2 Loh Hui Yin, Andrew Cooke - Tariff reduction schemes to be prepared for KL meet Reports by Loh Hui Yin, Andrew Cooke in BANGKOK BANGKOK Senior trade and industry ministers yesterday made significant headway towards launching the Asean Free Trade Area (Afta) next January. The ministers agreed at486 words
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468 1992-09-12 2 The Asean Free Trade Area stands to benefit from linkages with simitar sub-groups in the Asia-Pacific region, such as the North American Free Trade Agreement, says Singapore Deputy Prime Minister ;Lee Hsien Loong. "As a sub-regional grouping, Afta only covers468 words
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233 1992-09-12 2 BANGKOK Singapore took a clean approach in its bid to host the secretariat of the Asia-Pacific Economic Cooperation forum because the competition involved Thailand, a friendly Asean partner who is also a close and longstanding friend. A Singapore delegation spokesman stressed in233 words
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Article, Illustration512 1992-09-12 2 Helen Chang - Min Hoong makes pioneering move into Polish property development By Helen Chang SINGAPORE A Singapore property company has become the first foreign developer in Poland by undertaking a major US$7O million (S$ 111.3 million) housing-cum-retail project. Min Hoong Development Co Pte Ltd, a two-year-old512 words
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419 1992-09-12 2 Claire Leow - Wearnes sets up networking division By Claire Leow SINGAPORE Hewlett Packard has joined the price war in the personal computer industry, cutting the prices of 11 models by as much as 26 per cent. HP, which has not been419 words
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464 1992-09-12 2 Sylvia Wong - From Sylvia Wong in TOKYO JUST A YEAR away from its opening, Singapore Takashimaya needs to find only 19 more tenants for its massive retail complex at Ngee Ann City. The Japanese retailer yesterday said 81 per cent of its specialty shops had been464 words
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SINGAPORE ROUNDUP
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95 1992-09-12 2 MINISTER for Defence Yeo Ning Hong, now on an eight-day visit to the United States, called on US Vice-President Dan Quayle on Thursday morning, Mindef said yesterday. The Singapore ambassador to the US, S R Nathan, was present at the meeting which took95 words
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Article87 1992-09-12 2 THE Singapore Chinese Chamber of Commerce and Industry announced that the second World Chinese Businessman's Conference will be held in Hongkong next year. Singapore hosted the inaugural conference in August last year and participants had then decided to hold the event every two years. Thailand will host87 words
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Article73 1992-09-12 2 SILKAIR will fly to the Chinese city of Kunming once a week between October and December this year. The airline said yesterday it will use its Boeing 737-300 aircraft to operate the charters. The regional carrier flew to Kunming in the Yunnan province in May and73 words
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Article, Illustration128 1992-09-12 2 SINGAPORE Singapore's automation industry is expected to grow by 40 per cent in the next few years as Asia-Pacific countries turn to automation to ease labour shortages, according to Economic Development Board chairman Philip Yeo. Asian sales for automation goods had grown 10 per cent each128 words
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292 1992-09-12 2 SINGAPORE The Singapore Furniture Industries Council (SFIC) and the Trade Development Board (TDB) have come up with a global strategy to make Singapore's furniture exports more competitive internationally. The strategy hinges on improving design, which Senior Minister of State for Trade and Industry292 words
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COMPANY NEWS 1
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305 1992-09-12 3 Lilian Ang - By Lilian Ang SINGAPORE Listed DBS Land has roped in Malaysiabased Tradewinds (M) Bhd of the Pernas group for its $220 million retail project in Tampines. In a move which marks a further strengthening of ties between the two groups, Tradewinds'305 words
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285 1992-09-12 3 Shoeb Kagda - By Shoeb Kagda SINGAPORE GK Goh Holdings Ltd's net earnings for the year ended June 30 dropped 15.1 per cent to $8.5 million from the year before, despite an 8.7 per cent rise in turnover to $32.5 million. But for285 words
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248 1992-09-12 3 SINGAPORE Propertybased Tuan Sing has been found liable by the Malaysian Supreme Court for a guarantee given to Malayan Banking on behalf of the now defunct Kwong Hock Leong Sawmill (KHLS). The ruling, which overturned two previous court decisions, meant248 words
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189 1992-09-12 3 SINGAPORE Orchard Parade Holdings Ltd yesterday announced that interim net earnings grew 4.7 per cent to 1.65 million as turnover improved 14 per cent to $12.63 million. Higher occupancy and higher room rates at the Orchard Parade Hotel boosted turnover and helped operating profit jump189 words
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197 1992-09-12 3 SINGAPORE Resources Development Corporation Ltd (RDC) yesterday reported a 31.8-per-cent drop in net earnings for the six months ended in June, a far cry from the previous halfyear when net earnings rose an impressive 88 per cent. This year, RDC's interim net earnings came197 words
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577 1992-09-12 3 Lee Han Shih - THE HOCK LOCK SIEW COLUMN By Lee Han Shih SINGAPORE That question must be on the lips of analysts and others, shareholders of UIC in particular. On Monday, UIC said it would seek shareholders' approval for the sale of its577 words
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267 1992-09-12 3 K.LSE main board listings MBT KUALA LUMPUR Tile manufacturer H&R Johnson (Malaysia) Bhd, which is offering for sale 17.5 million Msl (550.64) shares at an ofTcr price of M 52.50 a piece, has forecast a pre-tax profit of MS 17.30 million on the backMBT - 267 words
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Article, Illustration266 1992-09-12 3 Bernama KUALA LUMPUR Prospects of hotels in Kuala Lumpur will continue to grow in view of the buoyant economy, conducive business conditions and aggressive tourism promotion initiated by the government, chairman of Perlis Plantations Bhd, Geh Ik Cheong said. He said the hotelBernama - 266 words
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COMPANY BRIEFS
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96 1992-09-12 3 SINGAPORE Hotel Properties Ltd yesterday announced that the net proceeds of about $62.9 million from the placement of 32 million new 1 shares in June have been used to repay existing bank borrowings. The shares were placed at $2 apiece. HPL said that shareholders should96 words
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Article26 1992-09-12 3 SINGAPORE Overseas Union Securities Ltd yesterday said its unaudited net tangible asset backing per $1 share was $2.56 on Aug 31.26 words
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Article108 1992-09-12 3 SINGAPORE Stamford Tyres Corp Ltd has clinched a US$6 million (559.54 million) contract to supply tyres and earthmover tyre services to a major mining company in Asean. It has subcontracted the production and distribution of passenger and truck tyres under the Sumo label. The passenger car108 words
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Article125 1992-09-12 3 SINGAPORE Centrepoint Properties Ltd has completed the acquisition of 700,000 shares of 1 each in the capital of Orrick Investments Pte Ltd, representing its entire issued capital. This was in accordance with a circular in February and a prospectus on an issue of bonds a warrants125 words
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Article62 1992-09-12 3 KUALA LUMPUR FA Peninsular Bhd reported a group pre-tax loss of M 57.47 million (554.78 million) for the year ended March 31, 1992, compared with pre-tax profit of M 51.93 million previously. It said in a statement that group turnover increased to M 552.32 million, from62 words
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COMPANY BRIEFS
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77 1992-09-12 4 ADELAIDE Australian energy group Santos Ltd said on Thursday it expected to step up oil exploration in Malaysia and the Timor Gap. It said this when reporting a record net profit of A 564.1 million (Ss74 million) in the six months to77 words
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Article75 1992-09-12 4 SYDNEY Government-owned Australian Airlines turned last year's As 66 million profit into a A 549.3 million loss in the year to June 30, it was announced on Thursday, four days before the airline is taken over by Qantas. Australian's chairman Ted Harris blamed the result75 words
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Article, Illustration83 1992-09-12 4 TOKYO Promotion girl Yoko Ikushima showing off Sony Corp's Portable minidisc (MD) recorder and MD Walkman M 2-1, part of its next generation audio system announced on Thursday. It offers 74 minutes of digital music on 64mm magneto-optical discs. Sony hopes it will become the heir83 words
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Article53 1992-09-12 4 JAKARTA Garuda is still awaiting government approval before seeking foreign loans to increase its fleet. Wage Mulyono, director of Garuda, was quoted by the official news agency Antara as saying the company needed US$2.5 billion (553.9 million) in foreign commercial loans for additional funds to buy53 words
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Article65 1992-09-12 4 HONGKONG A Japanese-Hongkong consortium has been awarded a US$l7l million contract for the construction of a highway on the northern coast of Lantau Island where a new airport is being built, the government announced on Thursday. It said the consortium, comprising Aoki Corporation, Tobishima65 words
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365 1992-09-12 4 Maggie Ford - Sister firm PT Tjiwi Kimia's earnings up 46pc From Maggie Ford in JAKARTA WEAK PRICES in the world paper and pulp market have depressed earnings of a major Indonesian producer PT Indah Kiat Pulp and Paper. Indah Kiat's interim net income365 words
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447 1992-09-12 4 Gillette buys Parker for £285 m FT LONDON Gillette, the US toiletries and shaving products group, is writing itself a much bigger role in the world pen market with the £285 million (*****.5 million) purchase of Parker Pen. Parker, based in theFT - 447 words
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325 1992-09-12 4 TOKYO .Major Japanese companies plan a 2.8 per cent reduction in capital investment in the 1992/93 fiscal year ending March 31, 1993, after a 7.7 per cent gain in 1991/92, the Bank of Japan (BOJ) said in its "Tankan" short-term corporate325 words
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199 1992-09-12 4 NYT NEW YORK National Semiconductor Corp on Thursday reported its fourth consecutive quarter of profitability, after a long period of losses, reflecting the success of its continuing turnaround efforts. For its first fiscal quarter, which ended Aug 30, National, based in Santa Clara, California, had earningsNYT - 199 words
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305 1992-09-12 4 Reuter LONDON Drugs group Glaxo, Britain's biggest company in terms of stockmarket capitalisation, reported an 11 per cent rise in annual profits on Thursday and provided fresh evidence that new products were helping sales. Pre-tax profits for the 12 months toReuter - 305 words
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217 1992-09-12 4 Bloomberg Tokyo Hitachi Ltd, the giant Japanese electronics manufacturer, will trim 3,000 people from its 83,000 workforce in the next two years, a company spokesman said yesterday. Hitachi has also lowered its forecast of pre-tax profit to less than 100 billion yenBloomberg - 217 words
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314 1992-09-12 4 Asahi TOKYO NEC Corp and Motorola Inc have agreed in principle to cooperate in the digital communications business, mainly in Japan and Asia, according to NEC officials. A formal agreement will be signed this autumn, the officials said. Nippon Motorola Ltd{Asahi - 314 words
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371 1992-09-12 4 Selling triggered by discount broker's report of plunge in trading NYT NEW YORK Signs of a retreat by small investors led to much wringing of hands on Thursday on Wall Street, where some brokerage stocks took a nasty hit. The sellingNYT - 371 words
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Page 3 Advertisements
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Advertisement265 1992-09-12 3 I IN THE MARKET PAGES SES ends lower 8 SET breaks 800 barrier 12 I Someone dose has been Iving Your son in Canada Is studying for some years. <weJsea? Cfcttos. KmMjfl want him Hie straits Times close to home weekly teUs It better, -with news (He might from home.265 words
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Page 4 Advertisements
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Advertisement167 1992-09-12 4 I REACH OVER 40,000 PEOPLE WITH AN ELECTRONIC PROPERTY CLASSIFIED AD FOR m Mm 3P dir mm 4 < Mlfm gm, JS9 v IKfc ■<?< r~ v Hflj| I H ■^i M i Only on Shine SPH's On-Line Information Network on Teleview Target your property ads at over right up167 words
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FINANCIAL NEWS
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423 1992-09-12 5 Dawn Tan - Simbl arranging loan for Phase 2 of $400 m industrial park By Dawn Tan SINGAPORE The developer of Batam Industrial Park PT Batamindo Investment Corp is back in the market to borrow $120 million to develop Phase 2 of the $400 million project423 words
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380 1992-09-12 5 Reuter SYDNEY Moody's Investors Service expects 43 merchant banks and up to 16 fQreign bank subsidiaries to establish branch operations in Australia under new government policy announced earlier this year. Managing director Michael Dommermuth said Moody's estimated that its ratings coverageReuter - 380 words
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278 1992-09-12 5 Reuter SYDNEY Australia's Citibank chief Brian Clayton said the government's decision to allow retail deposit taking through subsidiaries but not branches would further retard foreign banks competing in the local market. The main reason for the decision would appear to beReuter - 278 words
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Article, Illustration63 1992-09-12 5 MEXICO CITY A woman doing her daily shopping at a food market in Mexico City on Thursday as shopkeepers began adapting prices to the new monetary system that will go into effect in January when Mexico lops three zeros from the peso. On the left63 words
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302 1992-09-12 5 Reuter HONGKONG JIB Group pic said its full-year results for 1992 would fall short of earlier hopes but the insurance group would pay an unchanged dividend of five pence. Earlier JIB, which is 67.7 per cent-owned by Jardine Matheson Holdings Ltd, reported a profit beforeReuter - 302 words
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257 1992-09-12 5 Reuter FRANKFURT Dresdner Bank AG expects its parent partial operating profit to rise by 10 per cent in the 1992 year and also expects doubledigit growth in group operating profit, board member Bernd Voss said. Mr Voss said in an interview with Frankfurter AllgemeineReuter - 257 words
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282 1992-09-12 5 Quak Hiang Whai - By Quak Hiang Whai SINGAPORE French bank Societe Generale is expanding further in China with a new banking branch to be set up in the province of Guangzhou later this year. In a statement yesterday, Societe Generale said its new branch in282 words
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SMALL CHANGE
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57 1992-09-12 5 SINGAPORE The Singapore Insurance Brokers' Association has elected Robert Chang of Gibbs Insurance Brokers Singapore as its new president. At its annual general meeting, the association also elected Anthony Lim as vice-president; Jim Carter as honorary secretary; and Anthony Cheah as honorary auditor. The new57 words
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Article65 1992-09-12 5 STOCKHOLM The Moody's credit-rating agency yesterday said it had put Swedish banks Nordbanken, S-E Ban ken, Handelsbanken and Sparbankernas Swedbank under observation. The move was caused partly by the decision of the Swedish central bank to raise the marginal rate from 24 to 75 per cent65 words
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Article63 1992-09-12 5 BUERGENSTOCK, Switzerland Germany's futures and options exchange, the Deutsche Terminboerse (DTB), is considering joining the Globex screen trading system. The exchange's board is meeting next Monday for a presentation of the system, according to a DTB official. Globex is the afterhours trading system jointly developed by63 words
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Article83 1992-09-12 5 TOKYO The Bank of Tokyo Ltd group has agreed to use 2.4 billion yen (5530.7 million) to finance an unlisted broker, Dainana Securities Co Ltd, which has been hit by the ongoing stock market slump. A Bank of Tokyo spokesman said yesterday Dainana would increase83 words
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Article84 1992-09-12 5 BRUSSELS A private Arab merchant bank linked to the scandal-hit Bank of Credit and Commerce International (BCCI) has decided to close its Luxembourg operations, according to banking sources. "The bank has decided to surrender its banking licence and leave," said one source yesterday. Callers to the84 words
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Article72 1992-09-12 5 TOKYO Tokai Bank Ltd said on Thursday that it would cut about 800 jobs and slash investment over three years as another of Japan's top 11 commercial banks to streamline operations reeling under bad loans. Tokai, Japan's seventh largest commercial bank, will hold down new recruitment72 words
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Article65 1992-09-12 5 TOKYO Japan's top commercial bank, Dai-Ichi Kangyo Bank, has announced it would slash capital spending by 100 billion yen (551.28 billion) in four years from an undisclosed total. Dai-Ichi also planned to cut new recruitment by 20 per cent to 400 next year. Kyowa Saitama Bank,65 words
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Article, Illustration645 1992-09-12 5 DBS Bank weekly currency review US$/DM: a breadth of fresh bulls? Trading in the early part of the week was consolidative within a range of 1.3890 to 1.4130 marks for the US dollar. Remarks by a Federal Reserve governor that the US dollar at current levels645 words
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THE REGION
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NOTE BOOK
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114 1992-09-12 6 BANGKOK Myanmar's military government ended a four-year nationwide night-time curfew on Thursday and freed another 31 political prisoners, the official Radio Rangoon reported. The order ending the curfew was signed by Major-General Khin Nyunt, secretary of the ruling junta and the nation's powerful intelligence chief,114 words
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Article76 1992-09-12 6 PHNOM PENH A spurt of economic activity caused by the Cambodian peace process and the arrival of thousands of UN peacekeepers has prompted a hotel industry boom that resulted in 2,000 hotel rooms being constructed throughout the country, an official news agency said on Thursday. The76 words
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Article56 1992-09-12 6 MANILA The Philippines has only six ageing F-5 fighter planes to defend the country's airspace and most of those are under repair, according to its air force. It wanted to buy Israeli-made Kfir fighters to replace the US-made F-5s as part of its modernisation56 words
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Article69 1992-09-12 6 HONGKONG A senior member of Hongkong's Legislative Council demanded on Thursday that the colonial government keep council members better informed on talks between Britain and China over a new airport. Stephen Cheong, chairman of the council's panel on the airport project, said British officials had refused69 words
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Article65 1992-09-12 6 KUALA LUMPUR A Malaysian Cabinet minister yesterday ordered the immediate dismantling of all unlicensed parabolic satellite dishes in the country, popularly used to enjoy uncensored films on television. Information Minister Mohamad Rahmat gave the order following government fears of adverse affects on viewers, who were65 words
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Article, Illustration517 1992-09-12 6 Harish Mehta - Industrial boom gives economy new lease on life By Harish Mehta VIENTIANE Riding an industrial boom, the Laotian economy is expected to notch up 7.1 per cent growth this year, and 6 per cent in 1993. Diplomats here told BT that these517 words
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224 1992-09-12 6 AFP NEW DELHI The disputes between Hanoi and Beijing over conflicting territorial claims should not jeopardise Chinese Premier Li Peng's upcoming visit to Vietnam, Vietnamese Foreign Minister Nguyen Manh Cam said here on Wednesday. "Before this visit, there will be otherAFP - 224 words
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232 1992-09-12 6 AFP HANOI Recent moves by China against Vietnam over disputed islands and the detention of ships are pushing Hanoi towards a more rapid rapprochement with its non-communist neighbours, diplomats said here. The tensions have raised the spectre of the war Vietnam and ChinaAFP - 232 words
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171 1992-09-12 6 UPI JAKARTA Government forces in Indonesia's troubled East Timor province captured six East Timorese dissidents in military raids against the anti-government group, the Jakarta Post reported on Thursday. The suspects were believed to be members of the East Timorese Fretilin separatist movement, who wereUPI - 171 words
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SHIRS IN PORT
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Article465 1992-09-12 6 Vmd ivf Wo toft fcrfral gggw Vwrt > H» Blh fcrtwl D^«tef Marina Terminal I Sm You 10A/92 P03 12 09/0700 1209/2300 Batam Baru B178 M04 alongside 12.09/2300 Sn Pujut ISA/92 P04 12.09/0700 12 09/1830 Batam Mumi *****2 M05 alongsxle 11.09/2300 Zeusptein 09/92 P06 12.09/1800 15.09/1700 Batam465 words
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Article1244 1992-09-12 6 RECEIVING OF EXPORT Fa CONTAINERS AND LCL CARGO Record Bookini/Babnce Rsfts Ship Voy No Etb/Btr Period From To From Ac* Jade 102A 12/2359 I 11/1500 11/1659 11/1900 2 11/1700 12/0659 12/0900 3 Cancelled Ad Goncharov 41SI92 14/0700 1 Canceled 2 11/1700 12/0659 12/0900 3 12/0700 12/1159 12/1400 41,244 words
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THE WORLD
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Article, Illustration466 1992-09-12 7 MCI NYT LITTLE ROCK, Arkansas Following in the footsteps of House majority leader Richard Gephardt, governor Bill Clinton said on Thursday that the North American Free Trade Agreement appeared to be lacking substantive provisions on job retraining for US workers and environmental clean-upNYT - 466 words
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442 1992-09-12 7 I know that times have been difficult, very difficult, for many Americans, he says AP DETROIT President George Bush on Thursday laid out a repackaged economic manifesto less than two months before Election Day, suggesting a one per cent across-the-board tax cut would beAP - 442 words
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336 1992-09-12 7 Ar WASHINGTON American businesses scaled back their plans to increase plant and equipment investment this year, the government said on Thursday in a report reflecting new scepticism about the strength of the economic recovery. Businesses surveyed during July and August told the USAr - 336 words
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68 1992-09-12 7 BRASILIA President Fernando Collor de Mello won a delay in his impeachment process on Thursday as the Supreme Court gave him an additional week to present his defence. Congress had given Mr Collor until Sep 15 to present his defence in the move to impeach68 words
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Article78 1992-09-12 7 DOHA The foreign ministers of the six Gulf monarchies plus Syria and Egypt on Thursday pledged full support for the United Arab Emirates (UAE) in a dispute with Iran over the strategic island of Abu Musa. In a statement issued at the end of a78 words
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Article91 1992-09-12 7 BELGRADE Yugoslavia's foreign minister resigned on Thursday, accusing Prime Minister Milan Panic of compromising Serbia's interests in international peace talks. Vladislav Jovanovic, 59, a protege of Serbia's nationalist President Slobodan Milosevic, said in his letter of resignation that Mr Panic's government was increasingly pursuing "a policy91 words
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Article, Illustration37 1992-09-12 7 BOSNIA Old soldiers never die. Neither can they just fade away when there's a war going on. This old Serb soldier takes aim through a hole in the wall in Dobrinja district of Bosnia capital.37 words
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Article121 1992-09-12 7 TAIPEI Beijing on Thursday invited former Chinese warlord Chang Hsueh Liang, whom it regards as a national hero, to return to China after more than four decades in Nationalist Taiwan. Four visiting Chinese journalists from the official Xinhua news agency and other organisations invited Mr Chang121 words
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Article61 1992-09-12 7 TAIPEI A Taiwanese industrial association is looking for a suitable site in China for a new industrial zone to bring together Taiwan-backed enterprises in the country. Chang Shih-liang, chairman of the Cross Strait Industrial Association, which seeks to promote industrial ties across the Taiwan Strait, said61 words
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389 1992-09-12 7 Bloomberg WASHINGTON Weak growth in industrial countries, contraction of economies in Eastern Europe and the Soviet Union, and stagnation following the Persian Gulf War deflated world economic activity in 1991, the International Monetary Fund said. Recession in North America and the United Kingdom,Bloomberg - 389 words
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249 1992-09-12 7 IHT FRANKFURT The German economics minister said on Thursday that the country was nearing the limits of its economic resourcefulness and needed to take drastic action to halt a slide towards recession. His comments contrasted sharply with a recent upbeat assessmentIHT - 249 words
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Article, Illustration54 1992-09-12 7 ZAGREB The war can wait. This boy is enjoying a drink of water sprayed from a bronze statue in Croatia's capital. Zagreb is enjoying summer weather the second week into September. The water may be a relief from the summer heat, but there's no relief yet from54 words
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202 1992-09-12 7 Reuter BEIJING Iranian President Akbar Hashemi Rafsanjani announced on Thursday that Tehran had agreed to acquire a small nuclear power station from China, but said there were no plans for new military contracts between the two countries. The Iranian acquisition of theReuter - 202 words
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STOCK EXCHANGE OF SINGAPORE 1
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Article, Illustration3850 1992-09-12 8 Genevieve Cua - By Genevieve Cua SHARE prices fell across the board yesterday, dampened by poor performances in Tokyo and Hongkong. The blue-chip indicator, the Straits Times Industrials Index, gained more than five points in the first half-hour of trade, but dropped steadily afterwards3,850 words
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Article, Illustration78 1992-09-12 8 Quak Hiang Whai - Quak Hiang Whai KEPPEL CORP is still trying to break the resistance at $6.00 and looks likely to succeed soon. The weekly charts are showing some bullish signals with the price line ready to cut the nineweek moving average from below. The weekly RSI is also building upSOURCE: BRIDGE INFO - 78 words
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Page 8 Advertisements
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Advertisement23 1992-09-12 8 See the exciting range of Mitsubishi cars today... while stocks last. Cyde A CenfageAulemetive We lid. 341 Alexondre Bead, Singapore 0313. W:470i19t. Jjjl23 words
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Article3092 1992-09-12 9 SPH Foreign 1330 20 5*> OCBC 965 +10 +1.0% OCBC Foreign 1160 +10 +0.9% SIA 200 1310 +10 0.8% |pH 855 +10 +1.2% ICB 540 5 0.9% Jurong Ship 5C 685 +5 O7% Semb Shipyard 700 +5 +0.7% S Aerospace F 243 +4 +1 7%3,092 words
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Advertisement64 1992-09-12 9 YOUR KEY TO BEXTERBLJSINESS DECISIONS! I Shine is Singapore Press Holdings' infbrich database financial so,emena highlights, latest results team: T.S.UU on *****35,£a*d Ong on 740 1771 I on Teleview, which ,n« is the n,ost advanced fee of OT y S2so'per mo nth, 00 CUlitA V Company Research is a high64 words
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Article3115 1992-09-12 10 Per) is Plant 440 92 26.4% Gentings 50* 780 +15 +2.0% Berjaya Leisure 130 +5 +4.0% Sime Darby 50* 255 +4 +1.6% Berjaya Ind 60 3Vi +6.2% Sungei Way 205 +3 +1 5% Golden Hope 124 +2 +1.6% Pub Bk Foreign 136 +2 +1.5% D&C3,115 words
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Page 10 Advertisements
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Advertisement82 1992-09-12 10 FOR BITS AND Geared to keep the busy business executive abreast of new technologies he can exploit to full advantage, INNOVATION TECHNOLOGY page provides news, reviews and features in the areas of information technology, biotechnology, electronics and just about everything high-tech. Although its primary focus is on local news, INNOVATION82 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration4933 1992-09-12 11 Bernama SHARE PRICES in Kuala Lumpur lost ground to selling activity yesterday after sentiment was hurt by the weaker Tokyo bourse. Investors, already worried about the market's near-term prospects in the absence of fresh incentives and reserved ahead of the weekend, placed selling ordersBernama - 4,933 words
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CHINA STOCK EXCHANGES
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Article, Illustration404 1992-09-12 12 Reuter PRICES on China's domestic stock markets rebounded for a second day yesterday, with the bullish sentiment spilling over to foreign-held B shares as well, brokers said. The biggest gains were seen on Shanghai's A share market. Persistent rumours thatReuter - 404 words
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JAKARTA STOCK EXCHANGE
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Article, Illustration953 1992-09-12 12 SHARES edged down further yesterday at the end of an eventless week which saw the index continue to drift down. "There's nothing going on. The volume is being boosted by crossings," a foreign house brokersaid. The Jakarta Composite Index closed down 1.08953 words
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STOCK EXCHANGE OF THAILAND
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Article, Illustration2019 1992-09-12 12 Reuter THE Stock Exchange of Thailand Index broke through strong resistance to close above 800 points yesterday, but brokers said this was the result of heavy buying of a major property firm in the last five minutes of trade. "I think stocks have beenReuter; Source: Bridge Info - 2,019 words
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Page 12 Advertisements
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Advertisement45 1992-09-12 12 wuiro m iimnniiTfgjftiif I ■nrnri 111 ■111 Find out in I 111 I I I I r I I■ V fill Personal Investment and Finance. II I I I 1 I H 111 ■II I I I I I Every Saturday in Business Times v45 words
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TOKYO STOCK EXCHANGE
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Article, Illustration2559 1992-09-12 13 Reuter JAPANESE STOCKS closed sharply lower yesterday on futures-linked selling, with the Nikkei Average diving 800.78 points or 4.24 per cent to 18,107.69. After selling tied to September futures settlement betrayed expectations of a firm start, investors took profits and ran for the sidelines, brokers said.Reuter - 2,559 words
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STOCK EXCHANGE OF HONGKONG
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Article, Illustration2505 1992-09-12 13 Reuter HONGKONG STOCKS closed lower yesterday in thin turnover on worries about worsening Sino-US trade friction, brokers said. The blue chip Hang Seng Index fell 94.26 points or 1.67 per cent to end the week at the day's low of 5,537.29. The broad-based AllReuter - 2,505 words
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AUSTRALIAN STOCK EXCHANGE
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Article, Illustration2077 1992-09-12 14 Reuter AUSTRALIAN STOCKS held on to most of their earlier gains yesterday, with heavy buying of Westpac rights still a focus of activity. "People seem more prepared to translate bids and offers into deals today," an Austocks broker said. "I feel much more confidentReuter; Source: Bridge Info - 2,077 words
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REGIONAL STOCK MARKETS
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Mild bounce in FCL takes NZ shares up
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Article343 1992-09-12 14 A MILD BOUNCE in Fletcher Challenge shares yesterday helped take New Zealand shares up at the close while the rest of the market remained flat. The NZSE-40 Capital Index rose 7.39 points to 1,461.17 its first rise for the week mostly due to FCL's seven-cent rise to NZ$2.2l.343 words
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Article598 1992-09-12 14 SHARE PRICES closed higher yesterday as a strong showing of telephone stock PLDT on Wall Street caused lastminute buying, brokers said. The Manila Stock Exchange Composite Index gained 5.96 points to close at 1,417.96. "There was some profit-taking but prices stood firm in the end, an indication that the598 words
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Article389 1992-09-12 14 THE Taiwan stock market was closed yesterday and remains closed today for the Moon Festival holiday. It will reopen on Monday, the Taiwan Stock Exchange Corp said. Taipei Sep 10 NTS VotOOO) All Sincere Ind 7.75 Asia Cement 52.00 unch 268 Cathay Constr 45.20 0.20 692 Cathay Life Ins389 words
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Article690 1992-09-12 14 THE Seoul stock market was closed yesterday for the Chusok (Full Moon) festival and will reopen on Monday. Seoul Sep 9 Woo (TO) Anam Electric Ind 136 +3 Anamlnd 170 unch Ankuk Insurance 600 unch Asia Cement 298 6 Asia Motors 100 4 Bank Of Che Ju 169 -7690 words
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Article202 1992-09-12 14 INDIAN stock prices rose yesterday on hopes of major economic reforms next week and brokers said the Bombay index could go up a further 30 to 40 points on Monday. The Bombay Stock Exchange Index was up 21.39 points to 3,220.18 and the National Index was up 10.92 points202 words
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Article46 1992-09-12 14 INDICES TURNOVER Chase Sep 11 Piwtas NEW ZEALAND NZSE-40 Capital 1,461.17 1,453.78 +7.39 MftHH ft Composite Index Turnover (mil pesos) 1,417.96 262 1,412.0 195 +5.96 +67 TAIPEI Weighted Price Index Turnover (NTS billion) dosed 3,785.50 closed 15.77 SEOUL Composite Stock IndexTurnover (billion won) closed 551.12 335.5946 words
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WORLD STOCK MARKETS
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Wall St buoyed by Bush economy speech
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Article, Illustration1168 1992-09-12 15 WALL STREET stocks rose sharply on Thursday as investors reacted favourably to US President George Bush's economic speech. The Dow Jones Industrial Average closed up 33.77 points to 3,305.16. Advancing issues led declines 1,147 to 599 on active New York Stock Exchange volume of 222 million shares, compared1,168 words
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Article, Illustration791 1992-09-12 15 THE London stock market closed slightly higher on Thursday, benefitting from the slightly more stable currency markets and a higher dollar, but still nervous ahead of the French referendum on the Maastricht Treaty for further European integration. The blue-chip Financial Times Stock Exchange 100-Share Index, which fell 10.2 points791 words
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Article216 1992-09-12 15 GERMAN STOCKS were mixed on Thursday, as the DAX Spot Trend Index ended the day at 1,528.67, up 0.23 per cent from the previous close, while the Commerzbank indicator was off 0.8 per cent to 1,687.00. Traders said that in the absence of new support from fundamentals, stocks were216 words
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Article219 1992-09-12 15 FRENCH share prices were ramped higher on Thursday by talk the Bundesbank was holding an emergency meet- ing and rumours it might cut interest rates. A Bundesbank denial dampened the excitement but stocks still closed higher. The CAC-40 Index ended 17.41 points or 0.99 per cent higher at 1,774.18219 words
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Article356 1992-09-12 15 DUTCH SHARES on Thursday finished mixed to easier as the US dollar slid from an early rise, traders said. Investors were sidelined by worries over the course of European interest rates sparked by uncertainty over the outcome of the French referendum on the Maastricht Treaty on Sep 20 and356 words
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Article229 1992-09-12 15 ITALIAN SHARES rose strongly at the start on Thursday, buoyed by government moves on capital gains and news of its privatisation plans, but the rally faded. "The news from Rome provoked some short-covering," said one trader. "But the market remains confused, with the foreign investors and some important institutional229 words
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Article161 1992-09-12 15 BELGIAN SHARES closed below Thursday's highs but were still buoyant as the market was electrified by news Dutch banker and insurer Internationale Nederlanden Groep (IGN) may bid for Banque Bruxelles Lambert. Banks and financial holding companies were all boosted by the news. Kredietbank held on to early gains to161 words
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Article260 1992-09-12 15 SWISS SHARES ended a moderately active session higher. Dealers said lower interest rates lifted the market. The all-share SPI Index closed 5.8 points up at 1,108.3 and the SMI Index of leading shares added 13.7 to 1,792.8. "With money market rates edging lower basic sentiment is quite good," one260 words
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Article128 1992-09-12 15 SWEDISH SHARES closed at new year-lows in low turnover on Thursday, despite a rise around midday on reports of currency inflows and hence the possibility of a drop in the Central Bank's 75 per cent marginal lending rate. "It's the debt market that rules the roost. It will stay128 words
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Article398 1992-09-12 15 GOLD SHARES, which lost 5.06 per cent of their value by midday, bounced off lows in steady afternoon trade on Thursday as professional and overseas buyers returned to the market to nibble Z. at selected stocks, dealers said. "But investors remain cautious and < nothing looks positive on the398 words
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Article358 1992-09-12 15 A RISE in the Bank of Canada's key rate, combined with concerns over the weakness in the Canadian dollar gave a mixed tone to Toronto stocks on Thursday, dealers said. Toronto shrugged off news of a strong upturn in New York as losses in banks offset moderate gains in358 words
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Article76 1992-09-12 15 INDICES TURNOVER NEW YORK Close Prrnoas Sep 10 Dow Jones S&P 500 Turnover (million) 3,305.16 3,271.39 +33.77 419.95 316.36 +3.59 222 173 +49 LONDON Financial Times 30 FTSE 100 Turnover (million) 1,707.4 2,340.6 485.6 1,696.7 2,327.5 395.1 10.7 13.1 90.5 FRANKFURT DAX Index 1.528.67 1,525.26 3.41 AMSTERDAM EOE Index 276.9876 words
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Article45 1992-09-12 15 Vienna Sep 10 Ajcta -I-/. Akg Holding 2100 unch Bank Austria (P) 425 I E Allgem (P) 1670 60 Jungbunzl ***** 200 Lenzing 590 5 Leykam 305 1 Oesterr Brau 690 5 Semperit 93 unch Steyr 188 unch Veitschcr 311 unch Source: Z-Landerbank Bank Austria45 words
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Page 15 Advertisements
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Advertisement8 1992-09-12 15 Personal Finance Investment in Business Times every Saturday8 words
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CURRENCY, MONEY & FUTURES MARKETS
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1248 1992-09-12 16 REPORTS THE US DOLLAR rose strongly in early trading in London yesterday in line with the trend on US and Asian markets and supported by remarks by the governor of the Reserve Bank in San Francisco late on Thursday ruling out a1,248 words
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193 1992-09-12 16 Reuter EDINBURGH, Scotland British Prime Minister John Major on Thursday ruled out devaluing the pound and said he was determined to ride out turmoil on currency markets to pursue low inflation. Speaking against the background of intense pressure on sterling because of a weakReuter - 193 words
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Article1561 1992-09-12 16 SIMEX EURODOLLAR 9 Open High Low Sett Est Vol Act/Vol Op/Int S Sep 92 96.82 96.83 96.81 96.83 9500 3420 > 0208 S Dec 92 96.75 96 75 96.73 96.75 6000 9685 ***** Mar 93 %.73 96.74 96.71 96.72 3500 7028 ***** Jun 93 96.45 96.46 96.45 96.461,561 words
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Article420 1992-09-12 16 Cross rates se P n USS S$ MS Dm Yen SFr A$ NZS US$ 1.5960 2.4980 1.4400 124.20 0.5163 1.2830 1.3822 1.8349 SS 0.6266 1.5652 0.9023 77.8195 0.3235 0.8039 0.8660 1.1497 MS 0.4003 0.64 0.5765 49.7198 0.2067 0.5136 0.5533 0.7345 Dm 0.6944 1.1083 1.7347 86.25 0.3585 0.8910420 words
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Article547 1992-09-12 16 Interbank rates S$ Bid Offer Overnight 5/8 3/4 1-month I 7/16 1 9/16 2-month 1 11/16 I 13/16 3-month 1 13/16 I IS/16 Overnight mode: 3/4 LSS Bid Offer 7 days 3 1/16 3 3/16 1 month 3 3/16 3 5/16 2 months 3 1/8 3 1/4 3547 words
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Page 16 Advertisements
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Advertisement7 1992-09-12 16 Advertising Marketing in Business Times every Thursday7 words
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COMMODITIES
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396 1992-09-12 17 Reuter SINGAPORE Asian governments, facing increasing worldwide competition for oil company investment, are rushing to improve fiscal terms offered to prospecting oil companies to ensure future exploration and production, oil analysts say. Declining exploration prospects in the US have caused aReuter - 396 words
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228 1992-09-12 17 Reuter KUALA LUMPUR Malaysia, the world's fourth largest cocoa grower, plans to raise cocoa yields and trim costs to check sliding output. Malaysia will also boost domestic cocoa grinding and consumption to counter current weak prices, Primary Industries Minister Lim Keng Yaik told reportersReuter - 228 words
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753 1992-09-12 17 REPORTS THE PRICE of tin on the Kuala Lumpur Tin Market shed six sen to close at M$ 16.54 per kg due to higher offerings yesterday. Dealers said the market lacked buying demand and the London Metal Exchange, which closed unchanged overnight,753 words
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Article1479 1992-09-12 17 Rubber HAS riwiitltj Map (fwtrw ctorit m at ly) IBS 1 C—tract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Oct 92 143.25 141.00 142.00 1,350 TS25 Nov 141.75 139.50 141.00 2,000 3,825 Dec 140.00 139.75 139.25 100 3,475 Jan/Mar 93 139.25 137.75 138.50 3,900 17,0251,479 words
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Page 17 Advertisements
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Advertisement842 1992-09-12 17 BUSINESS TIMES oil free Tel No 737 0043 -Fax No: 734 3698 -J n EFFECTIVE RECRUITMENT ADVERTISING. Ca Ml ITS ONLY A CALL E AWAY... g Ac To advertise your Appointments or Notices. caM toll-free 737-0043 B Business Times T[ NOTICE or RMAL MEETING THE COMPANIES ACT. CAP. SO CHAN842 words
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588 1992-09-12 18 Little changes expected as G-7 plays to domestic audience Reuter LONDON With foreign exchange markets in turmoil and major nations pursuing policies strictly for domestic consumption, private economists expect little cooperation to emerge from the IMF/World Bank jamboree in Washington next week. The annualReuter - 588 words
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Article, Illustration358 1992-09-12 18 AFP BANGKOK Air Chief Marshall Kaset Rojananil, Thailand's former Supreme Commander and Air Force Chief, is being investigated for alleged corruption, according to a government official. The investigation began after secret documents were handed to the government's Counter Corruption Committee (CCC)AFP - 358 words
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307 1992-09-12 18 Reuter HONGKONG Hongkong Governor Chris Patten will meet British Prime Minister John Major in London next week amid hopes that a breakthrough is close on a long-running deadlock with China over the colony's new airport. Mr Patten, who arrived hereReuter - 307 words
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445 1992-09-12 18 Reuter TOKYO Japan's trade surplus expanded again in August, rising 32 per cent from the year before, but the nation's persistent trade gap may not be growing as fast as it seems. Strong export growth, which has raised fears that Japanese companies areReuter - 445 words
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425 1992-09-12 18 Reuter LONDON European central banks yesterday piled in to defend the lira in an intensifying war of nerves between markets which fear currency devaluations and authorities who say they are determined to hold the line. Dealers said the central banks of Italy, GermanyReuter - 425 words
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197 1992-09-12 18 AFP TOKYO The Russian authorities for the disputed Far East region have concluded a 50-year land lease agreement with an unidentified Hongkong property developer, according to a Japan Broadcasting Corp (NHK) report. Russia's southern Kuril executive committee will lease 278AFP - 197 words
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413 1992-09-12 18 Tokyo denies cancellation due to territorial dispute Reuter TOKYO Japanese leaders tried yesterday to shift the blame being heaped on them by domestic and Russian critics for President Boris Yeltsin's abrupt decision to call off his visit to Tokyo. Chief government spokesmanReuter - 413 words
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Article, Illustration193 1992-09-12 18 AP DOHA, Qatar Syria's foreign minister has rejected Israeli proposals to withdraw from parts of the strategic Golan Heights, saying all of the territory must be returned. Farouk al-Sharaa made the comments on Thursday after consulting Egypt and the oil-rich Gulf nations and gainingAP - 193 words
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345 1992-09-12 18 Reuter BEIJING The International Monetary Fund (IMF) has expressed confidence in China's economic reforms, saying Beijing so far seems able to balance high growth and stability. An IMF official in the organisation's Beijing office said the most positive sign was the apparent commitment byReuter - 345 words
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Page 18 Advertisements
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Advertisement6 1992-09-12 18 J5L Every Saturday in Business Times6 words
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Advertisement25 1992-09-12 18 INVESTMENT Every Saturday in Business Times Major Japanese firms to trim capital spending by 2&pc, Pg 4 Major rules out devaluation of sterling, Pg 1625 words
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Executive Lifestyle
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Article, Illustration1432 1992-09-12 19 Nirmal Ghosh - Nirmal Ghosh looks behind the Book Fair's hardsell to the challenges facing Singapore publishers Nirmal Ghosh JUST think of it: all the ency- J clopaedia salesmen you ever had nightmares about, collect- ed under one roof. 1 You need a thick hide to visit i1,432 words
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STRAWS IN THE WIND
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Article55 1992-09-12 19 HAVE you heard of the latest*. computer viruses? Enter th?!; George Bush virus it doesn't do anything, but you cannot get rid of it until N<>;vember. Or the Dan Quaylev virus your computer goes;completely blank and thfe-1 screen goes dim. And how about the Bill Clinton virus it55 words
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Article29 1992-09-12 19 SAID a caller in response to" an ad for a room for rent: "To be fair to you, I will be straight with you. I am gay...29 words
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Article48 1992-09-12 19 A VISITOR to the zoo was recently accosted by a girl carrying out a survey who asked him: "Excuse me, do you live here?" Of course, she didn't really think he was Ah Meng's new rooiii-mate. She wanted to know if he was a tourist.48 words
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Article46 1992-09-12 19 HAS anybody wondered about the dilemma firemen must face when they rush oflf to a high-rise building to fight a fire? Invariably, each building will have a fireman's lift, as well as a sign that says: "In case of fire, do not use lift".46 words
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Article36 1992-09-12 19 SPOTTED in the pets section of the classified ads: "Emperor turkey chicks for sale. From prize-winning parents." Now that's one pet to have around the condo: "Hey folks, come and see my prized turkey."36 words
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OPINIONS
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Article, Illustration817 1992-09-12 20 Peter E K Ong - Singapore may not be the cheapest of countries, but at least its people are able to enjoy a comfortable standard of living, observes Peter E K Ong Peter E K Ong The writer is a sub-editor with Business Times Many people, like me, tend to equate "standard817 words
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700 1992-09-12 20 Randolph Yeo - Why Singaporeans migrate and return LETTERS TO THE EDITOR Randolph Yeo I REFER to the article headlined ""Migrants, don't return like prodigal children" by Mr Peter E K Ong (BT, Aug 29). Singaporeans have migrated to other countries not merely for jeasons advanced by Mr Ong "the introduction of plastic700 words
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Article, Illustration730 1992-09-12 20 Ex-mariner - Ex-mariner AS AN ex-mariner I extend my condolences to those whose loved ones lost their lives or are still missing because of the sinking of the Royal Pacific cruise ship three weeks ago. The casualty and suffering should never have happened. In my opinion730 words
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481 1992-09-12 20 Chui Seng-Wah - Chui Seng-Wah Chairman Asean Promotional Chapter on Tourism, Australia and New Zealand WE WOULD like to comment on an article which appeared in the Business Times, Weekend Edition, July 4-5 by Tye Kim Khiat concerning the participation of the Asean nations at the481 words
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Article384 1992-09-12 20 Aziz Mahmood - Aziz Mahmood Singapore High Commissioner London The Singapore High Commissioner in London has written to The Economist in response to an article which was also carried by Business Times (Aug 26). We reproduce below the letter addressed to the editor of The Economist: YOUR article384 words
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VIEWPOINT
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Article, Illustration1852 1992-09-12 21 Margaret Thomas - Dr Catherine Lim reflects on the overwhelming influence of the People's Action Party on the nation and the resulting split identity of Singaporeans. She also tells Margaret Thomas why life begins at 50 and of her decision to become a full-time writer CONVERSATIONS I RAFFLES MargaretPhoto by Chris Loh - 1,852 words
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490 1992-09-12 21 CATHERINE LIM did her sums very carefully before deciding to quit working life to become a full-time writer. "There is the kiasu part of me; I am very Singaporean in this. I couldn't be like this US lady I met. My god! She490 words
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Article782 1992-09-12 21 I AM just having a wonderful time. Sometimes I look at myself and say: 'You, at age 50!' "At that age, my mother, for example, had folded up her wings and was very prim and proper. 1 am far from that. My children are grown782 words
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EPICURE
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Article, Illustration622 1992-09-12 22 Michelle Low - Michelle Low samples some of the dishes Hai Tien Lo has added to its new menu Michelle Low Fans of top notch Cantonese cuisine are in for some unusual fare with Hai Tien Lo's new menu, which we sampled along with a spectacular view 37 floors622 words
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LIFESTYLE
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Article, Illustration904 1992-09-12 23 Robert Graham - Robert Graham strolls through the streets of Rome to pick out some of the best places for food and shopping Robert Graham FT The eternal city is expensive. By expensive, I mean the rapid conversion made when calculating the cost of a taxi ride, a drink inFT - 904 words
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Article646 1992-09-12 23 N K Yong - There is more to look forward to in first class than extra legroom WINE By N K Yong L Perignon I or Krug, siiT a i charming hostess greeted me as soon as I settled into my seat onboard the aircraft. There cannot be many646 words
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PEOPLE
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Article, Illustration140 1992-09-12 23 AN INTERNATIONAL mix of bankers came together last Friday at the Regent Hotel to witness the signing of the highly successful US$4B million (Ss76 million) loan for Thailand's Phatra Thanakit. The loan raised for this finance and secu- rities house forms part of its fundingPhotos by Arthur Lee and Chris Loh - 140 words
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Article, Illustration144 1992-09-12 23 ENVIRONMENT Minister Ahmad Mattar was on hand to raise a toast to the Yang-di-Pertuan Agong at a reception on Malaysia's 35th National Day, Aug 31, at the Mandarin Hotel. Earlier, Malaysian High Commissioner Emam Mohammed Haniflf raised a toast to President Wee Kim Wee. The formalities were followed144 words
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PURSUITS 1
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Article, Illustration920 1992-09-12 24 Samuel Ee - Samuel Ee reviews the BMW 3-series coupe Samuel Ee RARE is the coupe that combines elegant styling with everyday practicality. Two doors good, but four doors better, if an Orwellian corruption be permitted. More often than not, passenger convenience takes precedence over visual pleasure, hence a coupe's920 words
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Article, Illustration528 1992-09-12 24 Jaime Ee - Timebomb revels in elaborate scenes of violence, says Jaime Ee Jaime Ee WHEN was the last time you woke up and the thought crossed your mind that you may not be who you think you are? If the last time was this morning and528 words
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Article, Illustration512 1992-09-12 24 RINGO LIEW - CD Review By RINGO LIEW ROXETTE: Tourism Songs From Studios, Stages, Hotel Rooms Other Strange Places ALL shrill and spiky haired on stage, Roxette cuts a different figure on this album of out-takes and clips of live performances. As the title indicates,512 words
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Article, Illustration612 1992-09-12 24 Jaime Ee - Jaime Ee finds the house in Housesitter stealing the show from the movie's stars Jaime Ee JUST as some people have delusions of being CIA operatives, others have delusions of being house owners. Which just about describes the majority of Singaporeans,612 words
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Article, Illustration979 1992-09-12 25 Susan Tsang - Susan Tsang has to contend with the heat and the crowds at a cremation of five royal women Susan Tsang T was billed as the last royal cremation. Every tourist in Bali I knew about it from jA- the hotels, local tour agents and979 words
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Article, Illustration797 1992-09-12 25 Nirmal Ghosh - Niimal Ghosh meets the ex-Cerebos chief who now seeks to please children rather than shareholders Nirmal Ghosh CARTER Wiglington travelled with Marco Polo, drawing maps wherever he went. He left them wherever he drew them, thinking he would pick them up on his way797 words
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Article, Illustration335 1992-09-12 25 Susan Tsang - Susan Tsang views some of the items that will be offered at a Christie's auction later this month Susan Tsang THIS weekend, the Oriental Hotel becomes a destination for shoppers interested in viewing a selection of the offerings at Christie's auction in335 words
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PERSONAL FINANCE & INVESTMENT 1
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Article, Illustration875 1992-09-12 26 Dawn Tan - Retail gold prices have fallen to a 14-year low in Singapore. Dawn Tan takes a closer look at gold as an investment prospect Dawn Tan FAMED economist John Maynard Keynes termed it "the barbarous relic". But little did he know that gold's popularityChart by TeleTrac - 875 words
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Article931 1992-09-12 26 BUYING gold, or any other precious metal for that matter, represents some risks, namely the credit-worthiness of the seller and custodian (buy from or trade through a reputable bank or broker), the purity of the metal purchased (buy only recognised brands and hallmarks), and the931 words
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Article, Illustration940 1992-09-12 26 Shoeb Kagda - Making money in the pits is hard work. Shoeb Kagda finds out what it takes to be a local on Simex Shoeb Kagda A MILLION dollars within six months of trading on the Singapore International Monetary Exchange. Incredible but true, say traders who risk their life savings daily940 words
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Article, Illustration525 1992-09-12 26 Chew Eng Han - CHAM By Chew Eng Han The writer is assistant manager of investments at NTUC Income THE Straits Times Industrial Index (STII) remains in a mediumterm bear trend, although in the shorter-term, there is still hope for a further rally above 1,400. After a525 words
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Article, Illustration675 1992-09-12 27 Leslie Yee - Investors who are anxious to know the outcome of the US presidential race can turn to econometrics, writes Leslie Yee Leslie Yee THE RACE for the White House can leave investors breathless. The outcome this November is still far from certain and so isSource: Smith Barney Research - 675 words
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Article1088 1992-09-12 27 Ong Keng Wee - Ong Keng Wee looks at corporate bonds as an investment Ong Keng Wee TO MANY investors, investing in securities usually means investing only in stocks and shares. However, as the Kuala Lumpur stock market develops, other instruments and derivatives such as corporate bonds, transferable subscription rights (TSRs, or1,088 words
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SPORTS
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SIDE LINES
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Article66 1992-09-12 28 BLACKPOOL, England Thai snooker star James Wattana reached the final stages of the Dubai Duty Free Classic for the first time in its three-year history here on Thursday. Wattana, 22, earned his place in the last 16 of an event which is now one of66 words
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Article, Illustration81 1992-09-12 28 PARIS Bruno Saby, driving at speeds more akin to world championship rallying, won his third stage in the 27-day Paris to Beijing rally on the hot and dusty Kazakh oilfields on Thursday to extend his overall lead to 14 minutes. The Frenchman bounced along at an81 words
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Article61 1992-09-12 28 BUENOS AIRES Former Argentine captain Diego Maradona has asked the authorities here for permission to leave the country this weekend for Spain. Maradona, who has served a 15-month football ban for cocaine use, but has a similar civil case pending here, said on Thursday that he61 words
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Article68 1992-09-12 28 NEW YORK McLaren-Honda chief Ron Dennis presented his new American driver Michael Andretti here on Thursday. His new protege took a back seat as Dennis was questioned about the team's future with number one driver Ayrton Senna. "Ayrton is still part of the team," he said. But68 words
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474 1992-09-12 28 Fischer manages a draw in Game 6 an error-filled play NYT SVETI STEVAN, Yugoslavia After seven hours of hardfought play, Bobby Fischer just barely managed to survive with a draw on Thursday in Game 6 of his exhibition chess match with Boris Spassky here. It was a matter of errorNYT - 474 words
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Article142 1992-09-12 28 NYT White: Boris Spassky/ Black: Bobby Fischer 1. d4/d5 2. c4/dc 3. Nf3/Nf6 4. e3/e6 5. Bc4/c5 6. 0-0/a6 7. dc/Qdl 8. Rdl/BcS 9. b3/Nbd7 10. Bb2/b5 11. Be2/Bb7 12. Nbd2/Ke7 13. a4/ba 14. Ra4/RhbB 15. Rcl/Bds 16. Nes/Bd6 17. Nd7/Nd7 18. Ra6/Ra6 19. Ba6/f6 20. Bc4/Bc4NYT - 142 words
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Article, Illustration393 1992-09-12 28 US Open AP NEW YORK Michael Chang frustrated Wayne Ferreira in an anti-climactic five-set drama on Thursday night to reach the US Open semi-finals for the first time. Simultaneously in the stadium and grandstand after a nearly three-hour rain delay, former champions Stefan Edberg andAP - 393 words
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Article, Illustration655 1992-09-12 28 The Economist LONDON When Australia's cricket team did badly in the World Cup in March, critics said its 36-year-old captain was past it. He ignored them, and is at the moment leading the Australian side on a tour of Sri Lanka. England's captainThe Economist - 655 words
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Article210 1992-09-12 28 AFP NEW YORK World No 1 Monica Seles is there, but where is everybody else? In the topsy-turvy US Open, three of the world's top four players, Steffi Graf, Martina Navratilova and Gabriela Sabatini, failed -to make it to yesterday's semifinals. Instead, Arantxa SanchezAFP - 210 words
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Article, Illustration632 1992-09-12 28 AP NEW YORK The umpire in the chair for every match of every Grand Slam event has been taught to recognise obscenities in several languages. Fortunately for Andre Agassi and his wallet, English does not appear to be one of them. ThoughAP - 632 words
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Article973 1992-09-12 29 Ctty FBgt ETA Plight JTD Crty n»> ETA Bg> ETO Ma Dfcatt GA860 0045 Kaala Laa*«r MH629 0020 MH602 0700 ®r lg| "**> SQ102 0730 SQ228 ZOO SO 103 0950 MH604 0740 f RJ187 0130 MH605 1020 SQ104 0830 ftMitMiliM S0319 0715 SQ105 1050 MH670 0950973 words
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THE TRAVEL PAGE
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Article, Illustration496 1992-09-12 29 M Thompson-Noel - LETTER FROM FRANCE By M Thompson-Noel THE MV Napoleon is a river cruiser that generally plies its trade on the River Rhone, in France, between Lyon and Aries, or vice-versa. It is 39 metres long and five metres wide, and was converted from the hull of496 words
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Article152 1992-09-12 29 As at 10am yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.1316 1.1672 Canadian dollar 1.2956 1.3218 NZ dollar 0.8603 0.8780 Sterling pound 3.0822 3.1250 US dollar 1.5920 1.6020 Local dollars to 100 aaits of farrif currency Austrian schilling 15.60152 words
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Article85 1992-09-12 29 Duration Title Venue Organiser Tel Duration Title Venue Oiganiaer Td IT I— Oct 14-17 Air Fomm *92 Palexpo. Orgexpo, Geneva 002/*****00 Oct 2-12 Tehran Teheran, Export Promotion (98*21/*****8 Geneva (fax) International Iran Centre of Iran CM, LuMmbourf Societe D« 352-*****.5 Oct 11-13 The Wates Fair International Foirts85 words
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Article615 1992-09-12 30 Basic Instinct Michael Douglas is a cop who investigates Sharon Stone for murder, and loves what he sees. R(A). Golden Sultan, Gala: spm; 11.30pm. Cathay 1: 11.45pm. Odeon Katong, Majestic: spm; 11.45pm. Marina 1: spm; Midnight. Orchard: 12.15 am. Leisure Drome, Yangtze 1: 5.30pm; 12.15 am. Batman Returns. Michael615 words
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TIME OFF
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Article216 1992-09-12 30 Singapore Symphony Orchestra Conducted by Choo Hoey. The programme presents works by Haydn, Berio and Stravinsky. Venue: Victoria Concert Hall. Today. 8.15pm. ChimlHir Concert The programme features five of the SSO's instrumentalists Karen Tan (violin), Foo Say Ming (violin), Wang Xiao Lan (cello), Selena Lai (oboe) and Dixie De216 words
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Article, Illustration273 1992-09-12 30 Tridimensions by Evelyn Dillon Exhibition of paintings by Evelyn Dillon, whose creative imagination, combined with meticulous care, achieves exciting proportions in three distinctly different styles. Venue: The Oriental Singapore, Atrium Gallery, 4th Floor. Sept 17-28. llam-7pm daily. National Kidney Foundation Art Exhibition The exhibition will feature more than 250273 words
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Page 19 Advertisements
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Advertisement173 1992-09-12 19 mrnmrn ■BBflj v—• 'B* ,^M mmm f f :^KM| JBxgEHgjH J 'M( \^jmMlljL 8%% 1 >«fl *t 1 Ki .gn A l I B Ylfc b i Available ndusivdy: SINGAPORE Burberry* Shoo* 435 Orchard Road. •02-42 41/44. Wisma Atria, Singapore 0923 Tel *****18-390 Orchard Road. »81-01/02 Palais Renaissance Shopping Arcade.173 words
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Page 20 Advertisements
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Advertisement25 1992-09-12 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.25 words
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Page 22 Advertisements
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Advertisement570 1992-09-12 22 Null ting Beats A Bud. H W or KIP*Q or TT^ "UttfA "km* 5W p lg| At only $11.80+ p«r Nonva Kueh I( u < 4n< +Vs 'k l I Bttbur Hitam and of coffee .h« BuburTerigu. <»« hl h h 1 M difference you should savour. I ICING'S PRINCESS570 words
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Advertisement304 1992-09-12 22 WHERE TO WINE, DINE... Our weekend high tea is so II satisfying, people sometimes II break into song. I Chooae from a sumptuous wiety of savoury and weet favourite* And if that's not II enough, our Sunday tea special also includes Karaoke at Singsation, Singapore's J only theme karaoke. I304 words
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Advertisement230 1992-09-12 22 DAILY AT PINE COURT You'll enjoy our (tettdous selection of authentic Beijing DlanXln served amidst the splendour of an Imperial W Court. May we expect you today? P From noon to 2.30 pm. A la carte menu available. ffi 333 Orchard Road. Slnfapoceo923 *****11 24 hour CoW— Hou— j i230 words
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Page 23 Advertisements
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Advertisement237 1992-09-12 23 —^^Mtf Cl SI AND ENTERTAIN 1 c cl tl i CURRY FLAVOURS i Spice up this Sunday with our f potpurri of curries. i And our wondrous Salad Bar for a healthy balance At Cafe-in-the-Park Buffet Lunch from 12 pm Buffet Dinner from 6.30 pm At $19.50++ per person j237 words
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Advertisement81 1992-09-12 23 Don't miss this unbeatable Lobster Promotion! Cooked in its varied ways to bring out that unique flavour, take your pick from our Chef's recommendations or our set menus from $68 (8 persons) to $338 (10 persons). Available from 12 to 30 Sept '92 at China China Restaurant, Nishiki Restaurant and81 words
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Page 24 Advertisements
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Advertisement43 1992-09-12 24 Dont miss AFTER FIVE BBmjt Your day may be over But your night B gp lis just beginning! Get a drink, go dancing, K* Jfe j hear the latest hit, see the hottest band in town... Every Friday in The New Paper Fastads.43 words
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Page 26 Advertisements
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Advertisement22 1992-09-12 26 N#T SURE WHERE T® POT YSW Get the answer in Personal Investment Finance. Every Saturday in Business Times Business Times _I 122 words
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Page 27 Advertisements
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Advertisement326 1992-09-12 27 \ll JO For over two decades Singapore Business has covered j I YV if 1 0031 an d regional business scenes with more depth and j 11 kJ breadth from a perspective which is more relevant to local businessmen than any other publication. Some may call it an j unfair326 words
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Advertisement218 1992-09-12 27 ■MBEsgN&g*' '£jSW^*^ i<' wSm^^Rr Jfe%s Ki #£ii Ssf-' '&M& W& It's Quick and Easy. Get Instant L- M counter at any of our 28 brandies. K Use the loan for any purpose. Loans from $2,000 to $100,000. MANY OF OUR CUSTOMERS HAVE ENJOYED THE BENEFITS! YOU CAN TOO! /CgN MONO218 words
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Page 29 Advertisements
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Advertisement42 1992-09-12 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. Wa know Europe from aUrt to Ptamah. j42 words
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Advertisement25 1992-09-12 29 For information on where to buy your copy of: Her World, Go, Singapore Business, Home Decor, Young Parents call our Customer Services Section on 749-257725 words
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Advertisement92 1992-09-12 29 L——— IS your view I X COLOURED? I Tick the statements you agree with: j Some six million Jews were "exterminated" by Nazi Germany years ago. This will never happen again. Si There is no need to worry about Jewhaters. neo-Nazis and other militant racists in the US. Germany, South92 words
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Page 29 Miscellaneous
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Miscellaneous236 1992-09-12 29 don't know 8 Unusually large one taking 111 Confusion ie great in town n"~^ .12 Changed by Ted, rear tyre HH *13 Composition played loudly j j on posh violin in Shetland •14 Airborne traveller well be- re~~rn7^ 16 Soldiers get together to LgJ Lag |h| reminisce (9) !I9 Six236 words
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Miscellaneous168 1992-09-12 29 Singapore Outlook: Showers over several areas in the late morning and early afternoon. Report Maximum temperature 31.7 Assoc humidity 64% Minimum temperature 24.8 Assoc humidity 83% Hours of sunshine 5.15 Rainfall in mm 3.5 Rainfall this month 26.0 Rainy days this month 4 World report Asia-Pacific Hi/Lo* Cond. Auckland 14/10168 words
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Miscellaneous41 1992-09-12 29 kiikjCTSIEBHWWBI VOHC-M Pi P(?oniS£D PiCTCLC. FMLS I mcKfneD _TJ\s p>RT,CL£, ow TH€, UFe. iTLSJSff^ Tm£ De DL,MC 1 T o Iw uows OF .5 conPuE-Tsiv Vr PROV,Se louT OF pVPKCC-vypi HOUSE. JOORM I w •<, 074 Or ASSOCIATED NEWtfAKM LTD, IM2-IW2 &CXI~41 words
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Page 30 Miscellaneous
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Miscellaneous1419 1992-09-12 30 TODAY'S TV I ■■■■BOTBIWH 9.00 Children's Programme 8 lyiiiMiBi Ike Bugs Bunny Stow. S 10.35 Kids TV. Arini H, 3.50pm, SBC 5 Travel: Quebec City, 11.00 Profiles of Nature. In this sequel, Arini 1.30pm, SBC 5 11.25 j contend with a hostile moth- Lu Hannesian trudges Am» (M who unhappy1,419 words
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Miscellaneous626 1992-09-12 30 MOVIES ON TV Tko Unh M Discipline, Mm. this ule about an affair that 3 00pm SBC 5 sorely tries the boundaries ol trust in a relationship. A ter Ail is not hunky-doty at the rn j na |jy woman discovers military academy. Two ca- that husband is fooling dels626 words
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