The Business Times, 28 November 1992

Microfilm: NL18511
Total Pages: 30
1 30 The Business Times
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  • Title Section
    Masthead
    17 1 Business Times THE BUSINESS PAPER FOR S-E ASMij MITA (P) 35/12/91 Weekend Edition, November 28-29 1992 75*
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  • NEWS & MARKETS SUMMARY
    • Article
      C Asian republics, Afghanistan join economic group
      44 1 ISLAMABAD Five Central Asian republics Turkmeniya, Kirghiziya, Tajikistan, Uzbekistan and Azerbaijan and Afghanistan will formally join the Economic Cooperation Organisation of Iran, Pakistan and Turkey today, creating what Pakistani officials say will be a formidable economic bloc.
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    • Article
      Inro may buy more rubber
      60 1 KUALA LUMPUR The International Natural Rubber Organisation (Inro) said yesterday it might buy more rubber to support prices that were expected to only mildly recover by mid-1993. Aldo Hofmeister, Inro buffer stock manager, said the recent cash call he made to raise Mslso million from
      60 words
    • Article
      Dow higher
      43 1 SHARE PRICES rose early yesterday on Wall Street as the market reopened for a shortened day of trading after the Thanksgiving holiday. The Dow Jones Index picked up 4.85 points or 0.15 per cent to register 3,271.11 five minutes after opening.
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    • Article
      Footsie lower
      34 1 SHARE PRICES on the London Stock Exchange were lower at midday yesterday. Al 1300 GMT, the FTSE 100 Index was down 1.6 points al 2,740.2. Volume was 326.1 million shares at midday.
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    • Article
      Shell site on sale
      24 1 MULTINATIONAL Shell Eastern Petroleum is putting its former oil tank farm site in Woodlands South up for sale. Page 2
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    • Article
      Wee on UIC shares
      33 1 THE United Overseas Bank group will continue to buy shares in listed United Industrial Corporation if the price is right, UOB chairman Wee Cho Yaw said yesterday Page 3
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    • Article, Illustration
      STOCK INDICES
      29 1 t Friday Change BT-MGA 685.15 +5.48 Kuala Lumpur ....640.48 +1.69 Tokyo 17.470.61 -8.43 Hongkong 5.986.67 73.49 Sydney 1.450.8 -0.1 Thursday Change New York closed London 2,741.8 +32.2
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    • Article
      COMMODITIES
      25 1 Exchange rates USS SS 1.6355 100 Yen SS 1.3158 MS SS 0.6459 Money market rates Overnight 1 3/8 -1/4 3Hmonth 2 1/4 Jb +1/8
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    • Article
      CURRENCIES
      36 1 IhmHH Gold AM fix US$334.00 -US$0,651 Rubber S'pore Dec 144.00'/kg unch M'sia Dec 223.00«/kg unch NL Tin Turnover 48tonnes +1 Spot M$ 14.15/kg +0.01 CnMk palm «fl Turnover 356 lots -13 Dec M$955 /tonne -2
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  • Article, Illustration
    S'pore govt unveils first major investment in China
    624 1  -  Partners to develop massive industrial estate in Fujian By Lee Han Shih SINGAPORE The Singapore government yesterday announced its first major investment in China, an undertaking that looks like a replica of its much-publicised project on Indonesia's Batam island but with some
    624 words
  • Article
    Sembawang tanker fire kills five
    288 1 Mishap triggers sell-off of company's shares SINGAPORE Local stocks closed higher on the back of encouraging trade statistics but a fire at Sembawang Shipyard yesterday afternoon led to a sell-off in the marine counter's shares and pared strong gains made by the Straits Times Industrials
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  • Article, Illustration
    Lock icon S'pore farming taken to new heights
    230 1 Reuter SINGAPORE Singapore could turn the rooftops of its high-rise apartment blocks into farmland if an experiment in aeroponics growing plants with roots suspended in mid-air proves commercially viable. "There is a possibility of adopting rooftops for crop production using aeroponics when all our
    Reuter  -  230 words
  • Article, Illustration
    Soeryadjayas to sell German bank
    452 1  -  Sale part of bid to raise funds for Bank Summa rescue By Yang Razali Kassim SINGAPORE Indonesia's Soeryadjaya family is selling off a German bank it owns in Dusseldorf amid a massive effort to raise funds to rescue the troubled Bank Summa. Edward Soeryadjaya, whose
    452 words
  • Article
    Lock icon Bundesbank resists European pressure to cut rates
    169 1 Reuter LONDON Germany signalled yesterday it would maintain its tough anti-infla-tion policy and not give in to howls of anguish from members of the European Community's currency grid by easing pressure on its weaker currencies. Bundesbank vice- president Hans Tietmeyer insisted German interest
    Reuter  -  169 words
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      Page 1 Advertisements Column 1
      116 1 Nikon P|ni >1 ftti nlnmanhlf CiMAim Ini ffona I rinMt rnoiogrvpnic oyswm. OPINIONS Patten: from lame duck to dead duck? EL 2 COVER Coming to a cineplex near you EL 1 Aircraft Schedule El 11 Commodities Company News 3.4 Crypte Crossword EL 11 Futures Options 16 Interbank Fore* Rates 16
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      Page 1 Advertisements Column 2
      26 1 REVIEWS Roberta Flack; Rostropovich; serial killers EL 3 A handshake between old friends, Pg 2 Hock Lock Siew: QAF is an attractive bread winner, Pg 3
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      Page 1 Advertisements Column 3
      309 1 PURSUITS Chen Wen Hsi; shop early for Christmas EL 6 I I I J One of the great designs of this century j. And probably the next. I KS- *„m ..-'«v^t* v3*BSfc i'i i i« Plk^71*? Royal Oak, hand-made and individually numbered uitb ultra tbin quartz movement, water-resistant to 5
      309 words
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      Page 1 Advertisements Column 4
      8 1 PURSUITS Macau's hotel of many verandahs EL 7
      8 words
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      Page 1 Advertisements Column 5
      14 1 Nikon I travellers ei. 9 Indon banks ask for later BIS deadline, Pg 2
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  • PAGE 2 NEWS
    • Article, Illustration
      Shell's oil tank site in Woodlands up for sale
      392 2  -  Land could fetch over $30m at present market rates By Colin Tan SINGAPORE Multinational Shell Eastern Petroleum is putting its former oil tank farm site in Woodlands South up for sale on Monday. Although industry sources said it was difficult to
      392 words
    • Article
      Colour Touch wound up, Pang Kim Soon declared bankrupt
      375 2  -  By Dawn Tan SINGAPORE Businessman Pang Kim Soon was declared bankrupt by the High Court yesterday and his flagship company Colour Touch wound up. The move came little more than a week after Pang and former Colour Touch general manager Soon
      375 words
    • Article
      Indon banks ask for later BIS deadline
      528 2  -  Tight money policy makes it hard for many to meet new capital adequacy rule By S N Vasuki SINGAPORE The financial troubles of Bank Summa, one of Indonesia's largest private commercial banks, have renewed worries that the country's financial institutions will face pressure
      528 words
    • Article
      Taiwan business sees direct links with China in three years
      347 2  -  By Schutz Lee SINGAPORE Taiwanese businessmen and other investors in China expect to see formal direct links established between China and Taiwan in two to three years. They point to the growing business flows primarily trade and tourism across the
      347 words
    • Article
      Average family's real income doubled in 1980s
      434 2  -  By Chuang Peck Ming SINGAPORE The average family's real income doubled in the decade ended in 1990, according to the latest Singapore Census of Population. Released yesterday, the census showed monthly earnings rose from $1,228 in 1980 to $3,076 in 1990 for the
      434 words
    • Article
      Lock icon Japanese firms plan to relocate upstream plants to S-E Asia
      382 2 AP MANILA Japanese companies plan to begin relocating main production facilities from Japan to South-east Asian countries, a Japanese business leader said yesterday. Masaru Hayami, chairman of the Nissho Iwai Corp, said a recent survey showed Japanese firms were willing
      AP  -  382 words
    • Article, Illustration
      A binding handshake
      126 2 SINGAPORE Wee Cho Yaw (right) shaking hands with Anthony Salim at a signing ceremony yesterday for the massive industrial park in Fuqing city in China. Mr Salim was representing his father Liem Sioe Liong. Also at the ceremony were (from left) Philip Yeo of the Singapore Technologies
      126 words
    • Article
      SMEs can turn to new $5m venture fund
      260 2  -  By Helen Chang SINGAPORE Small and medium-size companies in high-growth industries such as healthcare, food, leisure, environment and value-add-ed manufacturing can now tap a new venture fund for capital. The fund's investments will be small between $100,000 and $500,000 per company but
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  • COMPANY NEWS 1
    • Article, Illustration
      Buying of UIC shares will go on if price is right: Wee
      357 3  -  By Lee Han Shih, Kooi Cho Teng SINGAPORE The United Overseas Bank group will continue to buy shares in listed United Industrial Corporation (UIC) if the price is right, UOB chairman Wee Cho Yaw said yesterday. "UIC is
      357 words
    • Article
      Metro's interim earnings jump 3.5 times to $2.6m
      352 3  -  By Sylvia Wong SINGAPORE Metro Holdings Ltd reported a 3.5 times increase in interim group net earnings to $2.65 million, as group turnover rose 15.69 per cent to $190.85 million. The group attributed the improvement in earnings for the six months ended
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    • Article
      Lock icon Leader turns down offer of stake in Wembley
      174 3 Reuter KUALA LUMPUR Malaysia's top cable maker Leader Universal Holdings Bhd said it had turned down an offer to acquire a stake in Wembley Industries Holdings Bhd. "We wish to inform the exchange that Leader was approached to acquire a stake in
      Reuter  -  174 words
    • Article
      Lock icon Renong's first quarter profits jump 61pc
      314 3 MBT KUALA LUMPUR Renong Bhd has announced a 61 per cent jump in group pre-tax profit to M 547.2 million (5530.2 million) for the three months ended Sep 30, 1992, on a 274 per cent surge in turnover to M$ 100.2 million. The group
      MBT  -  314 words
    • Article, Illustration
      QAF is an attractive bread winner
      629 3  -  THE HOCK LOCK SIEW COLUMN The baker of Gardenia is now a solid money-spinner By Genevieve Cua SINGAPORE The Brunei-backed food group, QAF, has seen a flurry of trading activity in its shares since it announced a three-fold rise in interim earnings late last
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    • Article
      Public Bank denies bid to ease cap on foreign stake
      386 3  -  Rumours of waiver drive shares down in Singapore By Amy Balan SINGAPORE Public Bank Bhd yesterday denied making any application to the Malaysian government to drop or ease its 30 per cent ceiling on foreign shareholding. Rumours that Public Bank
      386 words
    • Article
      Sun Corp wins tender for Robinson Rd office block
      181 3 SINGAPORE Sun Corporation has won the tender to buy a 16-storey office building in Raffles Place. Its bid of $33.99 million for the building known as 8 Robinson Road was accepted by the Australian vendor. Sun Corp, which returned to the
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    • COMPANY BRIEFS
      • Article
        Courts directors sell off 380,000 shares
        77 3 SINGAPORE Newly-listed furniture retailer Courts (Singapore) said three of its directors sold a total of 380,000 shares on Thursday. Albert Elphick, Kevin Vincent Withey and Tan Zing Yuen disposed of 200,000, 130,000 and 50,000 shares respectively at prices ranging from 82 to 93 cents.
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      • Article
        Pan M'sia Rubber posts loss
        74 3 SINGAPORE Cement manufacturer Pan Malaysia Rubber. Industries Bhd posted a net loss of M 5529,000 (Ss342,ooo)ifi the half-year ended Sep 30, against net earnings of MS4.B. million a year earlier. The fall came despite a 186 per ceitti jump in turnover to M 54.3 million.
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      • Article
        Sembawang buys Jurong shares
        46 3 SINGAPORE Sembawang Shipyard has purchased onq million shares of Jurong Shipyard for $7.1 million. The purchase increased Sembawang's total stake in Jurong Sbip-> yard to 17.5 million shares or 15.97 per cent of Jurong Shipyard's issued capital, from 15.06 per cent. 1
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      • Article
        TDB head buys NatSteel shares
        36 3 SINGAPORE Yeo Seng Teck, chief executive officer of Trade Development Board, bought 20,000 Nat Steel shares pn, Thursday half of them at $3.20 each and the rest at $3.24 each. ,"/j
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      • Article
        Parkway director sells shares
        32 3 SINGAPORE Tan Kai Seng, a director of Parkway ings, said he sold 112,000 of his shares at $1.54 each cmi Thursdav. His retains 100,000 shares in Parkway Holdings,^;
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      • Article
        Chuan Hup shares placed out
        52 3 SINGAPORE Three of Chuan Hup Holdings' directors and substantial shareholders placed out nearly 13.85 million, of the company's transferable subscription rights 1994 yesttxday. Peh Kwee Tee, Peh Kwee Chim and Peh Kwee Yong sold 7.2 million, 3.5 million and 3 million units at 34 cents
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    • Article
      Lock icon Boustead plans 560-hectare project in Johor
      273 3 Bernama KUALA LUMPUR Boustead Holdings Berhad is planning to undertake a comprehensive property development project in Johor, estimated to cost billions of ringgit, over a 10-15 year period. Chairman General (Retired) Mohd Ghazali Hj Che Mat said yesterday that the project, on a 560-hectare
      Bernama  -  273 words
    • Article
      Lock icon Allied sells Guardforce to First Pac for HK$396m
      367 4 Acquisition part of First Pacific's plan to reposition group in HK South China Morning Post HONGKONG Allied Group has sold Guardforce to property firm First Pacific Co in a deal valuing the security firm at HK$495 million (Sslo4 million). Allied said that
      South China Morning Post  -  367 words
    • Article, Illustration
      Lock icon Westpac shares soar on talk of board changes
      438 4 Reuter SYDNEY Shares in ailing Westpac Banking Corp end_£d yesterday at their highest level in more than two months on speculation about the intentions of its largest shareholder, Kerry Packer Australia's richest man. Analysts said the media magnate, who moved to a
      Reuter  -  438 words
    • Article
      Lock icon Digital plans to accelerate lay-offs before year's end
      531 4 NYT MAYNARD, Massachusetts The Digital Equipment Corp is preparing to accelerate its lay-offs before the end of the year, as the company attempts to rebound from billions of dollars in losses. While a Digital spokeswoman would not confirm the exact number of
      NYT  -  531 words
    • Article
      Lock icon Taiwanese group in HK$1.8b China deal
      299 4 South China Morning Post HONGKONG Taiwanese firm Pacific Capital has sealed a major deal in China with the signing of a HKSI.B billion (Ss37B million) property development project in Fuzhou, Fujian. The Hongkong-based investment group, wholly owned by Taiwanese conglomerate Pacific Electric Wire and
      South China Morning Post  -  299 words
    • Article
      Khong Guan, Arnotts in joint venture talks
      424 4  -  By Sylvia Wong SINGAPORE A joint venture is said to be baking between the Chew family that controls the Khong Guan group and Australian confectionary company Arnotts. News agency Reuter reported yesterday that Arnotts planned to tap the fast-grow-ing Asian markets through joint
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    • COMPANY BRIEFS
      • Article
        Philippine petrochem project attracts investors
        71 4 MANILA The state-owned Philippine National Oil Co (PNOC) said a proposed US$l billion (S$ 1.63 billion) petrochemical complex has attracted potential investors from Japan, France and the United States. PNOC chairman Raul Manglapus identified them as Nissho Iwai Corp and Tomen Corp of Japan. Elf
        71 words
      • Article
        Rural Bank sold for NZ$450m
        78 4 AUCKLAND Fletcher Challenge yesterday announced that it has sold its 100 per cent owned subsidiary. The Rural Bank Ltd, to the National Bank of New Zealand. The amount realised by Fletcher Challenge was NZ$45O million (Ss37B million) made up of NZ$lOO million in dividends from
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      • Article
        Yazaki to invest 4b yen in China
        70 4 TOKYO Unlisted Yazaki Corp, a leading maker of electrical wiring and gauges for automobiles, will build a plant in Shantou, in China's Guangdong province, with a total investment of four billion yen (Sss2 million), a company spokesman said. Yazaki plans to buy 165,000
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      • Article
        Metro gets nod for Asko deal
        80 4 FRANKFURT Germany's federal competition authorities on Thursday reversed their decision to stop Metro, the pri-vately-owned Swiss retail giant, from buying a majority stake in Asko Deutsche Kaufhaus, a large German retailer. The reversal, coming just over two weeks after the Bundeskartellamt ruled that the
        80 words
      • Article
        Audi to set up Hungary factory
        62 4 BUDAPEST German firm Audi AG will soon start talks in the north-western Hungarian city of Gyor to build a fully-owned engine part factory there. The company would buy a 200-ha territory for building a new plant with a total investment of 320 million marks
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    • Article, Illustration
      Irish shares rally on devaluation rumours
      44 4 DUBLIN A clerk on the Irish Stock Exchange rubs his eyes during the afternoon session of trading on Thursday. The market has rallied 9 per cent over the past week amid speculation the Irish punt will be devalued.
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    • Article
      Lock icon Philips, Thomson, Sagem set up LCD joint venture
      184 4 Reuter EINDHOVEN, Netherlands Philips Electronics NV said it, Thomson SA's Thomson Consumer Electronics and Sagem SA have decided to set up a joint venture in active matrix liquid crystal displays (LCDs). Philips will own 80 per cent and the others 10 per
      Reuter  -  184 words
    • Article
      Lock icon NEC expects to suffer 9b yen loss this year
      189 4 AFP TOKYO Japan's NEC expects to make a consolidated net loss of nine billion yen (Ssl 18 million) in the year to Mar 31 due to the stagnant world computer and semiconductor market, the group announced yesterday. During fiscal 1991 the
      AFP  -  189 words
    • Article
      Lock icon Daewoo agrees to merge two units
      311 4 Reuter SEOUL South Korea's Daewoo Group yesterday agreed to bow to government orders and merge its shipbuilding and heavy industry subsidiaries, a move that pressured group share prices. "Today, we filed an application for a period of grace so we can revalue the assets
      Reuter  -  311 words
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      Page 3 Advertisements Column 1
      109 3 IN THE MARKET PAGESU. KLSE slips 12 Tokyo closes mixed 0 WATCH THE KING OF THE BLUES UVE! B B KING IN SINGAPORE gj■ CD MC WORLD TRADE CENTRE, HARBOUR PAVILION, Marketed by 1 DECEMBER Iff* (TUESDAY) W MCA, SHOWTIME t B*oo PM T 1 pteltd Here's the Deal! Exchange
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      Page 4 Advertisements Column 1
      57 4 I $888*/$ ]fl The county's special appeal lies in its unique combination of wildlife sanctuaries, glorious H beaches, breath-taking scenery, agreeoble climate, sophisticated occommodotion, and a g j^HEB I Direct Flight/All Sightseeing/Full Day Game Viewing/All Meals/ fl Exclusive togde Accommodation Cosmopolitan Nairobi/Amb—eM National Park/Lak« Nakuru NaHonal It turn S Hrwjswri
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  • FINANCIAL NEWS
    • Article, Illustration
      NDC identifies 3 core areas for future expansion
      319 5  -  Merchant bank to focus on derivative products, corporate finance, asset management By Soh Tiang Keng SINGAPORE NDC Merchant Bank, which celebrated its 20th anniversary yesterday, has identified three core areas for its future expansion thrust: derivative products, corporate finance and asset management.
      319 words
    • Article
      Lock icon Unveiled: a Korean fraud-to-suicide story
      523 5 Reuter SEOUL South Korean investigators sifting the complexities of an embarrassing multi-million-dollar bank fraud which was exposed after a banker killed himself revealed yesterday how they believe one of the scams worked. The case came to light when a bank manager committed suicide on Nov
      Reuter  -  523 words
    • Article
      Lock icon Spanish investment arm of KIO defaults on US$400m loan
      385 5 FT MADRID Grupo Torras, the Spanish investment arm of the Kuwait Investment Office (KIO), has defaulted this week on a US$2OO million (***** million) loan from Credit Suisse and another US$2OO million credit from Bank of America. The KIO is obliged
      FT  -  385 words
    • Article
      Siam City Bank getting US$25m 3-year loan
      208 5 SINGAPORE Thailand's Siam City Bank is raising US$25 million (5540.7 million) to fund its working capital requirements. Banque Francaise du Commerce Exterieur Singapore (BFCE) and KEB Asia Finance in Hongkong were given the mandate to arrange the three-year loan last week. A BFCE
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    • SMALL CHANGE
      • Article
        Profit plunge at Japan's long-term credit banks
        140 5 TOKYO Japan's three long-term credit banks said yesterday their pre-tax profits in the six months to September plunged by about one half from a year earlier with slight drops in operating income. The Industrial Bank of Japan Ltd said its pre-tax earnings dropped
        140 words
      • Article
        Japanese insurers' stock gains
        95 5 TOKYO Japan's five biggest life insurers held unrealised stock gains totalling 5.52 trillion yen (Ss72 billion) at the Sep 30 end of the fiscal first half, down from 16.13 trillion yen a year earlier, according to interim accounting reports released yesterday. The Nikkei Stock Average of
        95 words
      • Article
        Soon, the Rooster coin
        99 5 SINGAPORE The second series of Chinese Almanac Coins will be issued by the Board of Commissioners of Currency. The board said the new series will kick off with the Rooster coin, to be issued on Jan 2, 1993, and will be completed in 2004 with the
        99 words
      • Article
        Heavy losses at Canadian banks
        81 5 TORONTO The Toronto Dominion Bank and the National Bank of Canada both reported depressed fiscal 1992 earnings on Thursday after heavy losses from corporate loans, particularly to real estate companies, took their toll. The National Bank reported a profit of only Csl million for the
        81 words
    • Article
      Lock icon Manila to cut banks' reserve requirement in January
      265 5 Reuter MANILA The Central Bank will reduce banks' reserve requirements starting in late-January to help bring down interest rates and boost economic growth, Central Bank governor Jose Cuisia said. The present reserve requirement of 25 per cent on banks' deposit and deposit
      Reuter  -  265 words
    • Article, Illustration
      US$ recovers on ERM tensions
      585 5 DBS Bank weekly currency review US$/Dm: Dollar regains strength on EMS tensions The US dollar's decline was tempered by expectations of an ERM realignment last weekend, and aggressive buying emerged to bring the greenback to a high of 1.6120 deutschemarks last Friday. The announcement of
      585 words
    • Article
      Lock icon HongkongBank is top foreign bank in M'sia
      421 5 OCBC ranked 3rd most profitable Bernama KUALA LUMPUR The Hongkong and Shanghai Banking Corporation emerged as the most profitable foreign-incorporated commercial bank in the Malaysia. as at Dec 31, 1991, according to the 1992/93 Kuala Lumpur Bankers Directory. It registered a pre-tax profit
      Bernama  -  421 words
    • Article
      Lock icon Canada could restart US$ T-bill plan, say analysts
      290 5 Reuter OTTAWA Canada could reactivate a programme of issuing Treasury bills denominated in US dollars to replenish foreign reserve holdings used up to support the Canadian dollar, financial market analysts said on Thursday. Finance Department officials declined to comment other than to
      Reuter  -  290 words
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      Page 5 Advertisements Column 1
      48 5 SEA CONSORTIUM PTE LTD Age Maximum 10 years old Power 2000/2400 BHP, Twin engine-kort nozzle Type Oceangoing Maximum Draft: 3.6 M Class ABS or equivalent Offer C.A. General specification to be sent to Dick Cox SEA CONSORTIUM PTE LTD 11 Duxton Hill, Singapore 0208 Tel: *****33 Fax: *****96
      48 words
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  • THE REGION
    • NOTE BOOK
      • Article
        Gen Try to act against Java church desecrators
        82 6 JAKARTA Indonesian Military Chief General Try Sutrisno has broken a long official silence over a series of attacks on churches in east Java by saying Jakarta will act on those involved. "1 have already issued an order for a comprehensive investigation of
        82 words
      • Article, Illustration
        Marcos aide wants to go home
        116 6 MANILA Discharged general Fabian Ver (right), right-hand man of the late deposed dictator Ferdinand Marcos, is seeking to return to the Philippines. Sources in the foreign affairs department said here yesterday Mr Ver, who served as Marcos' military chief and fled with him to
        116 words
      • Article
        Aussie rail strike a summer first
        62 6 SYDNEY Drivers struggled through traffic jams here yesterday as 700,000 commuters battled a 24-hour train strike in New South Wales, the first of a wave of stoppages over pay, privatisation and labour laws. In South Australia, 500 train drivers also walked off yesterday for
        62 words
      • Article
        Philippine deficit up 42pc
        55 6 MANILA The Philippine trade deficit reached U553.43 billion (555.6 billion) in the first three quarters of 1992, 42 per cent over the gap in the same period last year, the central bank said yesterday. Exports rose 13 per cent to US$7.l4 billion but imports rose 18.6
        55 words
      • Article
        Indonesia to raise gas exports
        64 6 JAKARTA Indonesia plans to increase its gas exports from the current 22 million tonnes to 25 million tonnes by 1994. Antara news agency yesterday quoted director-general of Oil and Natural Gas, Suyitno Padmosukismo, as saying that it would mean that 55 per cent of the
        64 words
    • Article
      Lock icon US-Philippine ties strained by dispute over software piracy
      343 6 UPI MANILA A growing dispute between the US and the Philippines over protection of intellectual property rights is straining relations and could test economic ties between the allies. US trade officials say Washington is ready to put teeth into long-standing demands that
      UPI  -  343 words
    • Article
      Lock icon Vietnam heaps praises on China ahead of Li Peng's visit
      222 6 Reuter HANOI Vietnam's Communist Party newspaper heaped praises on Beijing yesterday and said the scheduled arrival in Hanoi on Monday of Chinese Premier Li Peng marked a high point in bilateral relations. An article in Nhan Dan by Dinh Nho
      Reuter  -  222 words
    • Article, Illustration
      Lock icon KL Opposition may take electoral map issue to court
      343 6 AFP KUALA LUMPUR Malaysian Opposition parties yesterday intensified their outcry over proposed boundary changes to the country's electoral constituencies, and threatened a challenge on legal and constitutional grounds. Lim Kit Siang, secretarygeneral of the predominantly ethnic Chinese Democratic Action Party (DAP),
      AFP  -  343 words
    • Article
      Lock icon HK trade deficit doubles in first 10 months to HK$24b
      240 6 AFP HONGKONG Hongkong's trade deficit nearly doubled in the first 10 months of this year to HK524.6 billion (555.2 billion), figures showed on Thursday. The result compared to a shortfall of HK$l3 billion in the first 10 months of 1991.
      AFP  -  240 words
  • SHIPS IN PORT
    • Article
      AT CONVENTIONAL WHARVES
      594 6 Vcsstf toy Wo Berth fcrivi Dtpartut Vessel Voy No Berth Arrwal Dtpartoe JurtMlg Port Kota Abacii ABW3W P02 alongside 28.11/1830 Aba® Jaya 06/AJ/92 J1 alongside 28.11/2300 Kris Madura 12E P03 alongside 27.11/1600 Aulia Seraya AS/49/92 J1 alongside 28.11/2000 Kuala Siak 6 92/10* P04 alongside 2811/0700 Budi Jaya
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    • Article
      CONTAINER SCHEDULES
      1743 6 DELIVERY OF FCL IMPORT CONTAINERS IN PROGRESS Sip ¥oy No Containers avaiabie Ship Voy Wo Contaiwrs avaiable Rhem Bridge 24E 26.11.92 0754 Atsa 2451 COO(EST) 27.11.92 1500 P Harding 066W 26.1192 0800 Kuala Siak 5 SI188A COO(EST) 27.11.92 2000 Seraya taya 050SR 26.11.92 0845 Vigour Spore 41NB COO(EST)
      1,743 words
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  • THE WORLD
    • Article
      Lock icon EC Commission rapped over fraud, mismanagement
      482 7 Auditors release report as members meet on budget FT BRUSSELS The European Commission is weakly managed, has poor accounting controls, and its misjudgments have cost European Community taxpayers tens of millions of pounds, according to a report published by the Court of Auditors on
      FT  -  482 words
    • Article, Illustration
      High hopes for the US economy
      51 7 NEW YORK A giant 'Big Bird' balloon passing a sign with positive economic news at Times Square as Macy's annual Thanksgiving Day Parade went underway on Thursday. Thousands of people lined up to watch the traditional event, which the department store has staged since
      51 words
    • Article
      Lock icon German parliament approves 1993 budget after fiery debate
      295 7 Reuter BONN The German parliament approved the 1993 federal budget yesterday after a fiery four-day debate in which the opposition Social Democrats accused Finance Minister Theo Waigel of incompetence and demanded his resignation. The budget, passed by 368 votes to 208. provides
      Reuter  -  295 words
    • Article
      Lock icon Yeltsin rejects opposition demands for changes
      399 7 NYT MOSCOW President Boris Yeltsin and Acting Prime Minister Yegor Gaidar on Thursday rebuffed opposition demands for major policy or personnel changes, drawing the political battle lines four days before the start of an anxiously awaited session of the full Russian Parliament. For days
      NYT  -  399 words
    • Article
      Lock icon Russia and Paris Club still at odds over debt repayment
      400 7 Reuter MOSCOW Russia and the Paris Club of creditor nations differ significantly over the amount of foreign debt Moscow can repay in 1993 but a compromise is possible, says Deputy Prime Minister Alexander Shokhin. "We have differences over the capability
      Reuter  -  400 words
    • Article, Illustration
      Lock icon How much tax should the Queen pay?
      514 7 Ritual secrecy blocks assessment of monarch's personal accounts Reuter, FT LONDON The Queen's personal fortune and the income that will be subject to tax are impossible to estimate accurately because so much secrecy has traditionally surrounded her accounts. This is unlikely to change,
      Reuter,; FT  -  514 words
    • WORLD WATCH
      • Article
        UK economy to grow 0.7pc next year: report
        100 7 LONDON Britain will begin to emerge from recession in the spring of 1993, with growth of around 0.7 per cent in store for the year as a whole, the Confederation of British Industry (CB1) said in its latest economic situation report yesterday.
        100 words
      • Article
        Anti-Aids virus shows promise
        88 7 WASHINGTON A harmless virus carrying an engineered genetic pattern is able in test tube experiments to keep the deadly Aids virus from reproducing inside its favourite blood cell target, researchers report. In a study that was published yesterday in the journal Science, three scientists said they
        88 words
      • Article
        New Xinhua deputy director
        71 7 HONGKONG The Chinese central government has appointed a graft-buster as deputy director at the official Xifh hua news agency, China's de facto representative office here, reports said yesterday. Ulanmulun, an assistant minister of foreign economic relations and trade, will replace former deputy director Wang Pinqing, who
        71 words
      • Article
        Chinese detained in Kenya: TV
        73 7 NAIROBI Kenyan immigration officials have detained 240 Chinese nationals, most of them women, found with forged Thai passports on board a ship in Mombasa. The commercial Kenya Television Network reported on Thursday k that the ship was believed to be travelling from Thailand tfT Acapulco
        73 words
      • Article
        Lords can't make daughters heirs
        96 7 LONDON One of the last bastions of male m Britain's aristocracy, decided to keep things that way otf Thursday by defeating a move to give English Lords the right to choose daughters as heirs. Lord Diamond, a former moner who was made a life peer
        96 words
      • Article
        MP accuses Takeshita of perjury
        70 7 TOKYO A lawmaker of Japan's ruling party ex-premier Noboru Takeshita yesterday of lying to a mentary panel investigating a corruption scandal, Kyodo newy agency reported. "I cannot condone perjury," Kyodo quoted Upper House member Masaru Urata as saying. "I would like,, to make this clear,
        70 words
    • Article
      Lock icon US weapons industry consolidates
      474 7 The peace dividend Pentagon budget cuts force contractors to drop marginal markets NYT LOS ANGELES Faced with declining Pentagon spending, the US weapons industry has entered a phase of consolidation. Events like the announcement on Wednesday that the US Army had cancelled a US$594 million (*****.2
      NYT  -  474 words
    • Article
      Lock icon Russia's military Merchants of Death diversify into consumer market
      455 7 Reuter VLADIMIR, Russia Russian arms salesmen are promoting both the grim hardware of war and the soft delights of peace. Children's cuddly toys, scientific gadgets, clocks, pianos and hi-fi equipment stand alongside lethal military equipment at a newlyestablished trade fair. "We
      Reuter  -  455 words
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  • STOCK EXCHANGE OF SINGAPORE 1
    • Article, Illustration
      Institutions continue to snap up blue chips
      4068 8  -  Sembawang fire sets back market in the afternoon By Genevieve Cua TRADING in blue chips was brisk yesterday as institutional investors, encouraged by the most recent set of Singapore trade figures, continued to pick up shares. The key Straits Times Industrials Index rose
      4,068 words
    • Article, Illustration
      Lock icon HOT STOCK
      78 8  -  By Quak Hiang Whai UNIPHOENIX has had one of the most spectacular runs in years, rising to above $2.10 this month from 90 cents in September. That surge, however, has sent most of its short-term and medium indicators into the overbought region. Notably, both the weekly RSI and
      SOURCE: BRIDGE INFO  -  78 words
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  • Article
    STOCK EXCHANGE OF SINGAPORE 2
    3087 9 DBS Foreign 1340 70 5.5% Asia Pacific 1110 +60 +5.7% OCBC Foreign 1180 +40 +3.5% OIJE 710 +35 +5.2% Jurong Ship 50« 765 *30 +4.1% Clipsal 60* USS 366 +16 4.6% B Sembawang 730 +20 +2.8% Keppel Corpn 605 +20 +3.4% SI A Foreign 1600
    3,087 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      127 9 YOUR VERY OWN HASSIE-FREE BKTCO^NEWS-OJPPftj^ERVKE! If news and other pertinent information on companies listed on the Stock Exchange And for iubscrlptlom fee of onlg $250 per month, you and your company can of Singapore Clob International are important to you and your business, then SPH subscribe to this specialised research
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  • Article
    STOCK EXCHANGE OF SINGAPORE 3
    2951 10 H Leong Credit 440 26 6.3% GIL US$0.10 146 +10 +7.4% Sime Darby 50« 308 +13 4.4% Landmarks Bhd 139 +4 +3.0% NST 370 +4 +1.1% Public Bank 50« 109+4 +3.8% Rashid Hussain 163 +3 +1.9% DMIB Bhd 50* 94 Vj 2'/i +2.7% Alcorn 205
    2,951 words
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  • KUALA LUMPUR STOCK EXCHANGE
    • Article, Illustration
      Lock icon Prices edge down in heavy trading
      5097 11 Bernama PRICES on the local share market ended a shade easier yesterday in heavy trading activity after fluctuating within narrow ranges from the outset. A dealer attributed the soft closing to pre-weekend jitters and the lack of incentives to encourage followthrough support when prices
      Bernama  -  5,097 words
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  • CHINA STOCK EXCHANGES
    • Article, Illustration
      Lock icon Shanghai A Index breaks 4,000 barrier
      414 12 CLSA THE Shanghai A shares advanced again yesterday, with the CLSA Shanghai A Index breaking the 4,000 barrier to end the day at 4,128.44, up lf|.3 per cent from Thursday. Turnover was a good 2.15 million shares. rSentiment in the Shanghai domestic market was
      CLSA  -  414 words
  • JAKARTA STOCK EXCHANGE
    • Article, Illustration
      Stocks close mixed in quiet trading
      1006 12 JAKARTA stock prices closed mixed yesterday in quiet and selective trading, brokers said. The official index closed at 284.66, down from Thursday's 286.08. "There is not much going on. But there are some decent buying on the finance and textile sectors," one broker said.
      1,006 words
  • STOCK EXCHANGE OF THAILAND
    • Article, Illustration
      Lock icon Rescue fund's entry boosts shares
      1937 12 Reuter STOCKS edged up in more active trade yesterday as brokers said a 10 billion baht rescue fund pooled by brokers had started buying. But they said most investors were still worried about whether authorities would take any further action against share price manipulation. The
      Reuter; Source: Bridge Info  -  1,937 words
  • Page 12 Advertisements
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      Page 12 Advertisements Column 1
      54 12 c lIHIIHf HI lIIMIMW Alff IMI I B I ill II I I Frnd out I I l|l HL I I H 111 |p I I_l I VI V I Personal Investment and Finance. ■i I II I I■"H I I H Ikl II I I I Every Saturday in
      54 words
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  • TOKYO STOCK EXCHANGE
    • Article, Illustration
      Lock icon Stocks end six-day rally to close mixed
      2534 13 Reuter STOCKS closed mixed to end a six-day rally yesterday. Profit-taking and pre-week-end position closing squeezed prices, but brokers said buying spurred by the absence of bombshells from testimony on political scandals and growing confidence that no drastic drops were imminent kept the
      Reuter  -  2,534 words
  • STOCK EXCHANGE OF HONGKONG
    • Article, Illustration
      Lock icon Stocks surge in thin trade
      2451 13 Reuter SHARES jumped sharply in light trading yesterday, boosted by advances in London on Thursday and index futures short covering, brokers said. The blue-chip Hang Seng Index climbed 73.49 points, or 1.2 per cent, to close at 5,986.67 after briefly topping the 6,000 level in
      Reuter  -  2,451 words
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  • AUSTRALIAN STOCK EXCHANGE
    • Article, Illustration
      Lock icon PNG plan to up Porgera stake weakens gold index
      2029 14 Reuter THE Australian stock market closed barely lower yesterday in mixed trade with CSR leading gains and the gold index taking a bath after Papua New Guinea announced plans to raise its stake in the giant Porgera mine. The All Ordinaries
      Reuter; Source: Bridge Info  -  2,029 words
  • REGIONAL STOCK MARKETS
    • NZ shares continue climb with 20pt rise
      • Article
        NEW ZEALAND
        334 14 THE New Zealand share market ended "yesterday on its day's high and 99 higher from where it started the week. Brokers expect this week's uninterrupted bull run to continue. The NZSE-40 Index closed up 20.26 points at 1,545.47, on the day's high. Volume was a moderate NZ$29 million.
        334 words
      • Article
        BOMBAY
        152 14 INDIAN stock prices fell yesterday because of poor investor demand, and prospects for immediate improvement look bleak, traders said. They said the Bombay Index could fall by 15 to 20 points on Monday, and that large sums of investor money are locked up in new public issues. However, there
        152 words
      • Article
        SEOUL
        765 14 THE stock market ended lower yesterday in moderate trading as unlikely political rumours spread, gripping the imagination of investors with little else to occupy their attention, brokers said. The Composite Stock Index shed 10.09 points to 650.85 on a turnover of 504.93 billion won from 587.54 billion previously. The
        765 words
      • Article
        TAIPEI
        458 14 STOCKS closed mixed in narrow and sluggish trade yesterday. Brokers expected the market to remain slow in the near future. The weighted index ended 5.38 points up at 3,681.94 on turnover of NT$6.B9 billion against Thursday's NT56.29 billion. Financials were up on buying by brokerages but industrial sectors were
        458 words
      • Article
        MANILA
        513 14 SHARE prices settled mixed yesterday after speculative buying in oils bucked a general market fall in what brokers saw as an indication bargain-hunting could be due. Manila's Composite Index dipped 0.11 point to 1,263.58 and is seen testing the next resistance at 1,280.00. Combined turnover on Manila's two bourses
        513 words
      • Article
        Untitled
        50 14 Close Previous Mot r NEW ZEALAND NZSE-40 Capital 1.545.47 1.525.21 +20.26 MANILA Composite Index 1.263.58 1.263.69 -0. II Turnover (mil pesos) 236.29 241.4 -5.11 TAIPEI Weighted Price Index 3.681.94 3,676.56 5.38 Turnover (NTS billion) 6.89 6.29 +0.6 SEOUL Composite Stock Index 650.85 660.94 -10.09 Turnover (billion won) 504.93 587.54 -82.61
        50 words
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  • WORLD STOCK MARKETS
    • FTSE 100 soars on strong futures interest
      • Article, Illustration
        Untitled
        1282 15 New York No* 25 LSS ATT 47 6/8 4/8 Aetna Life 44 1 1/8 Alcan Aluminium 15 6/8 +2/8 Allegheny Int 47 2/8 unch Allied Products 1 6/8 1/8 Allied Signal 56 3/8 Amax 16 1/8 Amber Brands 416/8 6/8 Amer Cyanamid 57 2/8 6/8 Amer Elec Pwr 31 1/8
        1,282 words
      • Article, Illustration
        LONDON
        987 15 THE FTSE 100 Index ended above the previous all-time closing high of 2,737.8 set on May 11, lifted by stronger FTSE futures and a program trade on the buy side, dealers said on Thursday. The FTSE 100 Index closed 32.2 points higher at 2,741.8 and turnover was a healthy
        987 words
      • Article
        FRANKFURT
        539 15 GERMAN SHARES ended mostly higher on Thursday as a technical price recovery backed by customer orders pushed the 30-share DAX up to test resistance at 1,530 points. But the midsession assault of the 1,530 level was unsuccessful, and the index slipped back to close just 5.46 points higher at
        539 words
      • Article
        AMSTERDAM
        275 15 DUTCH SHARES closed firmer on strong foreign bourses and a higher dollar on Thursday, while healthy demand for blue chips and some short-covering supported sentiment. Lack of trade from the US due to the Thanksgiving Day market holiday weighed on turnover. The EOE index closed 1.79 points up at
        275 words
      • Article
        PARIS
        144 15 FRENCH SFLARES ended higher after a quiet session on Thursday dominated by arbitrage between cash and futures contracts, traders said. The CAC-40 Index closed up 18.71 points, or 1.09 per cent, at 1,739.68 after touching a low of 1,712.25 and a high of 1,748.87 during the session. Traders attributed
        144 words
      • Article
        MILAN
        196 15 SHORT-COVERING towards the close of trading on Thursday pulled Italian shares off session lows, but dealers forecast further profit-taking would put extra downwards pressure on the market in the near term. Shares of the Ferruzzi group of com- panies were in the limelight following newspaper reports of management reshuffles,
        196 words
      • Article
        ZURICH
        283 15 SWISS SHARES closed slightly firmer in slow trade on Thursday. Dealers said trading lacked direction and market moving news ahead of the Dec 6 referendum on Switzerland's with Roche membership of the European Economic Area. The broad SPI Index gained three points to 1,126.0. Activity slowed further down in
        283 words
      • Article
        STOCKHOLM
        198 15 SWEDISH SHARES closed lower after trading firmer early on Thursday, and dealers said advances had been halted after the OMX-Index hit psychological resistance at 700. The OMX-Index, a spot index covering almost 90 per cent of the traded volume,"closed 0.88 per cent lower at 683.66. The bourse All Share
        198 words
      • Article
        BRUSSELS
        162 15 BELGIAN SHARES closed virtually unchanged in quiet trade on Thursdayj Dealers explained the lack of volume by! the EMS uncertainty, the US close and the Bundesbank's decision toi leave interest rates unchanged. They aC{ so expected quiet business yesterday. > The Bel-20 Index of leading shares closed 0.59 points
        162 words
      • Article
        TORONTO
        314 15 TORONTO STOCKS ended marginally higher in thin dealings on Thursday, led by gains in metals and real estate shares, but dealers said the US Thanksgiving holiday kept many players on the sidelined. Among actives, a round of short-covering pushed PWA up C 50.09 to C 51.09 on heavy volume.
        314 words
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  • CURRENCY, MONEY & FUTURES MARKETS
    • Article
      Greenback firms against mark in early European trade
      1171 16 REPORTS THE AMERICAN DOLLAR rallied in early European business yesterday and trading was expected to move within narrow margins because of the long Thanksgiving weekend in the US. The dollar rose above 1.60 marks on heavy speculative buying on Asian markets during
      1,171 words
    • Article, Illustration
      Lock icon Strength of French franc in doubt
      200 16 IHT PARIS The French government insisted on Thursday that the franc was strong and stable, putting its faith in Germany and equating the defence of the currency against speculators with a battle to save European economic and monetary union. But many economists and other
      IHT; Source: Datastream  -  200 words
    • Article
      FINANCIAL FUTURES
      1486 16 SjjjEX EUWOOOLUW Open High Low Sett Est Vo > Act/Vol Op/lnt S Dcc 9"> 96 05 96.09 96.03 96.07 3200 3443 ***** 9 %:V; 96.15 90 09 96.13 5600 4887 ***** Jun 93 95 71 95.73 95.70 95.73 3900 2799 ***** r 93 95 95 28 95.24 95.28
      1,486 words
    • Article
      INTERBANK FOREX RATES
      407 16 Cross rates Nov 27 I USS SS MS Dm Yen SFr AS NZS USS 1.6330 2.5300 1.5980 124.10 0.6575 1.4370 1.4535 1.9417 SS 0.6124 1.5493 0.9786 75.9951 0.4026 0.8800 0.8901 1.1891 MS 0.3953 0.65 0.6316 49.0514 0.2599 0.5680 0.5745 0.7675 Dm 0.6258 1.0219 1.5832 77.66 0.4114 0.8992
      407 words
    • Article
      MONEY MARKET
      623 16 Interbank rates S$ Bid Offer I Overnight I 3/8 I 1/2 1-month 2 2 1/8 2-month 2 1/8 2 1/4 3-month 2 1/4 2 3/8 Overnight mode: 2-1/8 1 LS$ Bid Offer 7 days 3 1/8 3 1/4 1 month 4 3/16 4 5/16 2 months 3 IS/16
      623 words
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  • COMMODITIES
    • Article
      Lock icon Bonn fears French veto will create free grains market
      465 17 Reuter BONN German Agriculture Minister Ignaz Kiechle said he feared France was trying to engineer a free-for-all in world cereals markets by opposing a trade deal between the European Community and the US. German farmers, who produce cereals at high cost
      Reuter  -  465 words
    • Article
      Lock icon Coffee talks stalled over quota issue
      182 17 AP LONDON Talks on a new international price pact for coffee remained stuck on Thursday over the question of fine-tuning the proposed market-regulatory export quota system. A meeting of exporters and importers on the issue scheduled for the end of the day here was
      AP  -  182 words
    • Article
      M'sian crude palm oil prices end higher
      741 17 REPORTS MALAYSIAN crude palm oil prices closed steady yesterday despite being tightly rangebound in a market lacking fresh factors, dealers said. The closure of the Chicago soyoil futures complex on Thursday due to the US Thanksgiving Day holiday also dampened activity. Nov south
      741 words
  • Article
    PRICES
    1479 17 Rubber HAS Commodity Exchang (ftrtnr»» dosMg a» at lpm) IBS 1 Contract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Dec 92 144.25 144.25 144.00 300 1,875 Jan 93 144.00 144.00 144.00 1,025 3,900 Feb 143.75 143.75 144.00 450 4,650 Mar 144.50 144.25 144.25 425 5,025
    1,479 words
  • Page 17 Advertisements
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      Page 17 Advertisements Column 1
      884 17 BUSINESS TlM_E_S_^ Toll free Tel No 737 0Q43 'Fax No: 734 -3806 M THE MATTER Of THE COMPAMES ACT. CHAPTERS# AND M THE MATTER OF MM BOUTIQUE PTE LTD #N MEMBERS'VOLUNTARY LIQUIDATION) At an Extraordinary Qanaral Meeting of the membera of the oompeny held at the registered office of the
      884 words
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  • Article
    Asean fears Afta will cause labour displacement
    434 18  -  Industries unable to cope with free trade expected to lay off workers From Al Labita in MANILA ~f\SEAN labour ministers yesflterday expressed concern that tiie Asean Free Trade Area TAfta), which takes off next would trigger labour displacement in the region. "We feel
    434 words
  • Article
    Philippine minister calls off talks with Boon Yang on proposed labour pact
    340 18  -  From Al Labita in MANILA LABOUR Secretary Nieves Confesor yesterday said she had called off her plan to hold talks with her Singaporean counterpart, Lee Boon on the proposed labour agreement between the Phil'?ppines and Singapore. H "I
    340 words
  • Article
    Lock icon Venezuelan rebels launch second coup attempt
    483 18 Reuter CARACAS Rebel troops backed by aircraft and linked to a February coup attempt launched a fresh bid to topple the Venezuelan government yesterday, but President Carlos Andres Perez said loyal troops were in control. Loyal and rebel soldiers exchanged heavy gunfire around the
    Reuter  -  483 words
  • Article
    Lock icon EC ministers fail to break budget deadlock
    350 18 AFP, Reuters BRUSSELS The 12 European Community governments yesterday failed to break a deadlock over how much money the bloc needs to run until the end of the century and how much aid its poorer members can expect. Britain, with a month left
    AFP,; Reuters  -  350 words
  • Article
    Lock icon Sri Lanka's political parties agree on federalism
    280 18 Reuter COLOMBO Sri Lanka's ruling and main opposition parties have agreed to introduce a federal system to try to end a nine-year Tamil separatist revolt but Tamil political leaders said yesterday the guerillas would want more. "We feel the euphoria may be premature,"
    Reuter  -  280 words
  • Article, Illustration
    Lock icon China may form alliance with . Russia to ensure regional stability
    368 18 China may form alliance with Russia to ensure regional stability AFP MOSCOW Chinese Foreign Minister Qian Qichen raised the possibility on Thursday of China and Russia forming an "alliance" to help ensure stability in the Asia-Pacific region. "We would not exclude an alliance relationship" with Russia, Mr Qian said at
    AFP  -  368 words
  • Article
    Crucial vote for HK airport contract squeezes through
    418 18  -  From Catherine Ong in HONGKONG THE Hongkong government narrowly won a crucial vote yesterday for approval to release more funds for a major airport contract. After nearly six hours of debate which looked every step a touch-and-go situation for officials, the Legislative
    418 words
  • Article
    Lock icon Opec agrees on output slightly below current level
    425 18 Reuter VIENNA Opec talks in Vienna ended with an accord effective on Dec 1 designed to curb output at levels slightly under current production, according to various ministers. Ecuador became the first nation ever to leave Opec. A spokesman for the Organisation
    Reuter  -  425 words
  • Article, Illustration
    Lock icon Eight teenaged neo-Nazi suspects held
    159 18 Reuter BONN Federal investigators yesterday announced the arrests of eight teenage accomplices to a young German held on suspicion of forming a gang of neo-Nazis which firebombed refugee homes. Federal Prosecutor Alexander von Stahl said in a statement the eight, aged 15 to 19, were
    Reuter  -  159 words
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  • Executive Lifestyle
    • Article, Illustration
      Coming to a cineplex near you
      1389 19  -  Multiplexes are multiplying in Singapore, what with 46 new cinema halls expected to open by the end of next year. But is the market big enough to sustain these new developments, and can the movie-going crowd look forward to better screen fare? Susan Tsang
      1,389 words
    • STRAWS IN THE WIND
      • Article
        Insulting sweetness
        42 19 GOT a really nasty female client you want to send an indirect insult to? Try thjs gift pack of aromatherapy oils from new company Qu£n Verdena it includes a fahcy perfume bottle containing, of all things, "period pain relief oil".
        42 words
      • Article
        Citizenship claim
        56 19 STILL on the period pain ojl, check out the press release that arrived at our office. The company's definition of Singapore-made products goes like this: "The natural essential oils are imported from France. They are then specially concocted for specific purposes, and then packed in Singapore. Hence, Quen
        56 words
      • Article
        Reverse technology
        37 19 WHEN Singapore-based reporters of Japanese newspaper Nikkei Weekly send their English news stories in for publication, they use made-in-Japan Toshiba laptops. But when it comes to stories written in Japanese? They use IBM laptops. I
        37 words
      • Article
        Wrong DPM
        66 19 THE editors of Britain's financial Times ought to 109k more closely at the pictures they print. When the pap?r reported a story about Singapore's deputy prime ministers having cancer, it printed a picture of Ong Teng Cheong with a caption said he was Lee Kuan Yewfs son. We
        66 words
    • OPINIONS
      • Article, Illustration
        From lame duck to dead duck?
        821 20  -  From Hongkong, Jackie Sam assesses the colony's darkening mood as the governor gets increasingly mired in political games with Beijing Jackie Sam The writer, a Hongkong-based political consultant, contributed this commentary to BT AME DUCK was the label given to Sir David Wilson's adminisj
        821 words
      • Article, Illustration
        Trying to revive the great American dream
        913 20  -  S With Bill Clinton in the White House come January, Brian Gomez sees yi a major policy shift, breaking with the Republicans' 1980s style Brian Gomez The writer, a Sydney-based journalist, contributed this commentary to BT WHEN presidentelect Bill Clinton takes over at
        913 words
      • Article
        Help France to come to terms with that deal
        685 20 The Financial Times says it is unfortunate that France finds the EC-US farm trade agreement such bitter medicine AFTER Wednesday's debate in the French National Assembly, it is clear that the French government is set to stage a long and fierce
        685 words
      • Article
        Singapore companies can regionalise through MNCs
        340 20  -  LETTERS TO THE EDITOR Lim Boon Heng Senior Minister of State Ministry of Trade and Industry YOUR REPORT, "Boon Heng urges Singapore-based MNCs to expand regionally" (BT, Nov 26), needs clarification. At the press conference following the LIUP-IT programme, I elaborated on the contributions
        340 words
      • Article
        Scripless is more efficient than share registration system
        424 20  -  Peter Chia Public Affairs Manager Stock Exchange of Singapore WE REFER to the letter "CDP system appears inefficient" (BT, Nov 21/22). We would like to draw to readers' attention that Mr Dennis Distant's earlier letter, "Long wait to get credit for certificates
        424 words
      • Article
        Get rid of that stamp
        89 20  -  Denis Distant Singapore 0922 ALL company annual reports include a proxy form for shareholders to exercise their vote on resolutions to be tabled at the relevant company's AGM. This is a worldwide practice. However, Singapore is unique in requiring a 25-cent revenue stamp to be
        89 words
    • REVIEWS
      • Article, Illustration
        Soothing sounds
        824 21  -  Roberta Flack was not given the warmest of welcomes on Wednesday night but that soon changed after the music began. Dawn Tan on how she mesmerised an irate audience Dawn Tan CALL IT nostalgia. Call it sentimentality. Call it plain good management. As with most living legends who
        824 words
      • Article, Illustration
        In perfect partnership
        439 21  -  Mstislav Rostropovich's recital with pianist Lambert Orkis was an example of chamber placing at its very best, says Benjamin Loh Benjamin Loh THE VERY riveting and eventful concert at the Victoria Concert Hall last Tuesday night came about through the efforts of two consummate musicians. While it
        439 words
      • Article, Illustration
        Lock icon Lucrative monsters
        849 21  -  Nowadays, serial killers mean big bucks for the entertainment industry. Pat H Broeske finds out why they have become popular culture's favourite villains of the 1990s Pat H Broeske NYT THEY emerged from the shadows to J tap into our deepest fears and nightmares. Monsters of the New
        NYT  -  849 words
    • EPICURE
      • Article, Illustration
        Hainanese heritage
        547 22  -  Jaime Ee tucks into some hearty, back-to-the-past dishes Jaime Ee TAKE one Hainanese chef. Put him in a jar for 30 years. Take him out and he's ready to serve you some culinary delights from recipes that haven't changed in the past few decades. Perhaps that's not the
        547 words
    • LIFESTYLE
      • Article
        Lock icon Fighting fat with a smile
        955 23  -  The festive season is here, and with it conies much feasting. Jane Brody suggests ways to lose weight without being a slave to a diet Jane Brody NYT IF YOU have heard the growing number of obesity specialists who warn that diets are doomed to
        NYT  -  955 words
      • Article
        The fascination of old and rare wines
        727 23  -  By N K Yong WINE SOME years ago, Decanter, the premier wine magazine in England, received a letter on the irrelevance of descriptions of famous bottles, as (a) they are extremely rare and, therefore, virtually unobtainable, (b) even if found, they are too
        727 words
    • PEOPLE
      • Article, Illustration
        Lock icon Singapore Aviation Academy takes off
        261 23 FLYING on the wings of a plane that's the spirit behind the newly launched Singapore Aviation Academy, which officially took off earlier this month. Pilots from all over the world will get to use state-of-the-art facilities at the $40million training centre set up by the
        Photos by Chris Loh  -  261 words
      • Article, Illustration
        DBS puts its money on Thailand
        121 23 DBS BANK recently celebrated the official opening of its representative office in Bangkok with a reception at the Regent hotel in the Thai capiltel. The event, on Nov 17, was attended by top Thai bankers and businessmen. DBS Bank has indicated that it plans
        121 words
    • PURSUITS 1
      • Article, Illustration
        Honouring the master
        683 24  -  Susan Tsang looks back on the life and times of the late Chen Wen Hsi, whose works are on exhibition from today Susan Tsang OPINION may differ as to who ckserves the title of Singapore's greatest artist, but just about rryone you speak to will agree it
        683 words
      • Article, Illustration
        Young at a price
        651 24  -  Death Becomes Her is a comedy with a decidedly odd aftertaste, says Jaime Ee Jaime Ee ARE YOU the kind of person who's obsessed with your looks? Does your fridge contain more jars of collagen than peanut butter? Would you leave home without your blusher? Do
        651 words
      • Article, Illustration
        Shoppers' season
        766 24  -  Jaime Ee casts a baleful eye at that fast-approaching expensive time of the year and offers a few cost-saving tips Jaime Ee THERE are now 27 shopping days to Christmas. But of course, if you are the kind whose religious and common sense principles forbid you to enter
        766 words
      • Article, Illustration
        Lock icon The view from the verandah
        972 25  -  David Brazil enjoys Macau from the comfort of the newly-restored Hotel Bella Vista David Brazil BRAVO, whoever devised the verandah! For they made a truly glorious contribution to domestic architecture. Whether in the form of a five-foot way, a simple covered balcony or (to touch
        Photos by David Brazil  -  972 words
    • PERSONAL FINANCE & INVESTMENT 1
      • Article, Illustration
        Indon banks still look good
        684 26  -  S N Vasuki highlights two quality stocks Bank Bali and Bank Internasional Indonesia S N Vasuki OREIGN invesi tors are likely to M be disappointed with the unfolding financial troubles of Ba&k Summa, one of Indonesia's largest privatelyowned banks. Barely a month ago, the Indonjesian
        684 words
      • Article, Illustration
        Lock icon Appetite for S'pore shares growing
        636 26  -  CHAR^ By Najeeb Jarhom The writer is research manager of Fraser Securities Pte U4; THE Straits Times Industrials Index (STII) has succeeded in its latest attempt to clear the 1,430 to 1,450 resistance area, aided by bullish reports about the American and Singapore economies. However,
        Source: Fraser Securities  -  636 words
      • Article
        Lock icon Reasons to avoid Chinese stocks
        899 26  -  For all China's promise, there are risks in investing in the country s small, volatile and thinly traded markets. Allen R Myerson reports Allen R Myerson NYT IN Shenzhen, China, more than a million would-be investors waited in line some for days to buy applications
        NYT  -  899 words
      • Article, Illustration
        Homework for the traveller
        1006 27  -  Amy Balan on how to minimise the perils of an overseas trip Amy Balan A COLLEAGUE recently lost his Visa credit card while in London. He immediately reported the loss to the nearest Visa office but was told he had to contact the issuing bank in
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      • Article, Illustration
        SICC is most expensive club in Singapore
        379 27  -  Kooi Cho Teng updates the BT Golf Index Kooi Cho Teng Membership prices of local golf clubs dipped an average of 4 per cent this month and the BT Golf Index slipped 9.88 points to 244.39. Last month, the barometer rose 4.14 points
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    • SPORTS
      • SIDE LINES
        • Article
          Brazilian in 1993/94 Jordan Formula 1 team
          81 28 'LONDON Brazilian driver Rubens Barrichello will drive ;Cor the Jordan Formula One team in 1993 and 1994, team 'owner Eddie Jordan said on Thursday. Barrichello will debut •for Jordan at the South African Grand Prix next March. He -Vvas the 1991 British Formula
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        • Article
          Hendry 's dry season continues
          87 28 "PRESTON, England Stephen Hendry's miserable season here on Thursday when he was knocked out of rthe UK Championship. He was beaten by fellow Scot Alan •McManus who notched his first win in four meetings with I his more illustrious countryman, winning a nail-biter 9-8 to
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        • Article
          HK, Scotland in snooker semi
          78 28 Malta Two titanic struggles, both decided the last two balls of a four-hour battle, fixed the semi-final line-up at the World Snooker Championships here late on Thursday. Hongkong's unseeded David Kam, one of the surprises of the tournament, snatched a 5-4 win over Thailand's Praprut
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        • Article
          Clinton unwinds with sports
          94 28 NEW YORK President-elect Clinton likes watching sports because it's one area where he can enjoy being analytical and not worry about answering to anybody. Reminded in an interview aired Thursday on The NFL Today that Nixon once sent a play to Washington Redskins coach George Allen,
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        • Article
          Tokyo balloonist still going strong
          65 28 TOKYO Japan's maritime safety agency said on Thursday 52-year-old Yoshikazu Suzuki, who left Lake Biwa in western Japan this week on an unofficial balloon trip to the US, was still going strong. After receiving a distress signal, a jet plane from the agency followed the
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        • Article
          Italy's anti-racism drive in sports
          72 28 ROME Italian soccer authorities said on Thursday they plan to launch a publicity drive to stamp out a worrying rise in racist abuse in their stadiums. Italy has been alarmed by a growth in racist attacks in recent months which police believe are predominantly the
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      • Article, Illustration
        Lock icon Defending champs play hard to beat top seeds
        413 28 ATP Tour World Doubles Championships AP JOHANNESBURG Defending champions Anders Jarryd and John Fitzgerald scored a straight set victory on Thursday over top seeds Mark Woodforde and Todd Woodbridge at the ATP Tour World Doubles Championships. Jarryd, of Sweden, and Fitzgerald, of
        AP  -  413 words
      • Article
        Lock icon China sees sports as key to growth and propaganda
        443 28 AFP BEIJING China, which is running an intensive campaign to host the 2000 Summer Olympic Games in Beijing, has made sports a key component of official propaganda and economic development effort. As part of that effort, the government, which has given
        AFP  -  443 words
      • Article, Illustration
        Lock icon Competitor in round-the-world sailing race found dead
        471 28 AFP, AP < PARIS Nigel Burgess, a competitor in a solo roundel the-world sailing race, was found dead off the coast of Spain on a day after sending distress signal, French res*"cue officials said. >* His body was recovered in off the Spanish
        AFP,; AP  -  471 words
      • Article, Illustration
        Lock icon Lost sailor presumed dead after 2-wk search
        617 28 NYT j:NEW YORK Mike Plant, 42-year-old solo ocean sailor whose disappearance at sea while en route from New York to France produced an extensive two-week search in the Atlantic Ocean, was de- clared missing and presumed on Wednesday. The US Coast Guard off
        NYT  -  617 words
      • Article, Illustration
        Lock icon Lennox Lewis set to fight Foreman instead of Bowe
        380 28 AP LONDON It looks like No 1 contender Lennox Lewis will be fighting George Foreman next spring, instead of world heavyweight champion Riddick Bowe. Following a breakdown in negotiations between the two sides, Bowe appears set to give up the WBC
        AP  -  380 words
      • Article
        Lock icon Old-timer Futch says Bowe will be best he has coached
        433 28 AFP WASHINGTON When it comes to training world heavyweight champions Eddie Futch is your man. He may be 82 years old but Futch still has one of the sharpest eyes in the business and he is convinced that his latest
        AFP  -  433 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1234 29 Ctty FNgkt ETA FttgM FTO Ctty FigM ETA Fid* ETD rAtnn nntn SQ111 1705 SQ112 1530 AIM DtuW GA970 0010 710 MH 612 1545 GA976 0025 SQU3 1750 MH631 1615 AMaMa S0228 2015 S0671 1810 SQ114 1700 DT7S7 0130 MH644 1825 MH614 1715 TT. =dl£i MH617
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    • TRAVEL
      • Article, Illustration
        Mobbed by monks in Lhasa
        611 29  -  LETTER FROM TIBET Sarah Anderson WHEN 1 flew into Lhasa's airport, the Chinese at the passport check barked at me to take off my sun-glasses. Knowing that you have done nothing wrong is no solace when confronted by Chinese officialdom. With a shaking hand I
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      • Article
        FOREIGN CURRENCY NOTE RATES
        151 29 As at 10am yesterday: Local dollars to one unit of foreign currency Currencies Bid Offer Australian dollar 1.1176 '1.1275 Canadian dollar 1.2600 1.2700 NZ dollar 0.8320 0.8620 Sterling pound 2.4730 2.5030 US dollar 1.6290 1.6340 Local dollars to 100 units of foreign currency Austrian schilling 14.40
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      • Article
        WORLD TRADE EXHIBITIONS
        73 29 Duration Title Venue Organiser Tel Duration Title Venue Organiser Td Dec 26- Valencia Valencia, Feria Mueslrano *****6.11.00 j an 7-10 Autosports Birmingham Hay market 071-*****20 Jan 3. International Spain Intemacional International Exhibitions, (fax) 1993 Trade Fair De Valencia Teddington TW11 Jan 7-10 London Earte Court. National Boat
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    • TIME OFF
      • Article
        PERFORMANCES
        208 30 Singapore Symphony Orchestra Conducted By Choo Hoey with Rita Hunter as soloist. This programme features a cfoss-section of the most dramatic arias of 19th century opera from Beethoven's Fidelio of 1806 to Ponchielli's La Gioconda of 1876. Soprano Rita Hunter has been hailed as one of the greatest -vocal
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      • Article, Illustration
        EXHIBITIONS
        298 30 Moods And Visions An art exhibition by famous Austrian artist Helmut Kand. Also known as a visual alchemist, his paintings depict his various moods and visions as the Dreamer, the Traveller and the Artist. He has held exhibitions in various parts of the world. Venue: Le Meridien Singapore, atrium
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    • Article
      CINEMA
      663 30 A League of their Own. Highly entertaining baseball movie with Tom Hanks and Geena Davis about women slugging it out on the pitch. Accessible to non-players too. Orchard: 11; 1.30; 4; 6.45; 9.15. Broadway 2: 1; 3.30; 7; 9.30. Yishun 10: 10.05; 12.30; 3; 6.50. 9.25; 11.55. Midnight tonight
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  • Page 19 Advertisements
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      Page 19 Advertisements Column 1
      294 19 UK I*# (>3 J' if! if fcl t- 1 I *****88 3343 6 8 8 J HISTORY IN TIME Planetarium Coper*,cut. Handmade in ISct gold, individually numbered, sapphire crystal, water mutant to JO m. Shockpmof Lady Newton. Automatic tnth power reserve, small second and date indicator. 18a gold or steel/gold.
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      Page 20 Miscellaneous Column 1
      20 20 DOONESBURY garry trudeau UHOmit&VTHEe/XP. HIS RIVALS tmAHUNORJMFWJRZ? HI ■WP a^seOT IOOKFORfO*mseC&- I 2*?^V S&(.TOPO*e A FONT IME 1 SXSSfSR BSm*fi&.
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      Page 21 Advertisements Column 1
      93 21 FOR SUCCESSFUL MANAGEMENT OF 1 YOUR BUSINESS i *8 Stories on labour and its relationship with management, management concepts in practice, profiles of leading managers in Singapore and relevant book reviews. ENTERPRISE MANAGEMENT, in Business Times every Monday, is must reading for managers who want the competitive edge. Plus an
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      Page 22 Advertisements Column 1
      492 22 Nothing Beats A Bud. (^3) nv FAKING OF BBKRS* gg Tfifi "Ibme "?t* Penang Gome and sample our revamped menu at Princess Terrace. It's extra delicious! Available every Saturday, Sunday and Public Holidays At only 511.80++ per adult and $6.80+ per child, i"he combined experience of inclusive of coffee/tea, this
      492 words
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      Page 22 Advertisements Column 2
      290 22 WHERE TO WINE, DINE... yeaai— Our Tim Sum promises to leave a foreign taste in your mouth Sink your teeth they're ready to into authentic satisfy you with Tim Sum every their day of the week without Abalone flying to Kong. You see, Seaweed that's where Wk Rolls and our
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      Page 22 Advertisements Column 3
      246 22 Local Tea Time delights at Chatterbox C "TJT" ever y Saturday and Sunday. 3 pm to 5.30 pm. $14.50+ per person $8.50++ per child (below 10 yrs) NAezMnr* Sumptuous Continental Afternoon Tea "f? spread at Mezzanine Lounge. Daily. 2pm to 6pm $16.00+ per person $10.00+ per child (below 10 yrs)
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      Page 23 Advertisements Column 1
      179 23 AND ENTERTAIN The Chefs Special Savour the Chefs special four-course dinner featuring an appetiser, soup, main course and dessert in the classic ambience of the Hubertus Grill A different gourmet dinner menu is available each week. At 65.00+ per person ANA HOTEL SINGAPORE 16NwnH«.SingapOf# 10BS I-or reservations. tmcmx* (66) *****22
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      Page 23 Advertisements Column 2
      81 23 Club v > Barbecue Buffet BQ Eat as much as you can every Friday Saturday [jR^PI at the Poolside Tee-Off Cafe between 6.30pm to 10.00pm Adult 5i3.50 Child 57.50 For reservations, please call Tee-Off Cafe AQMJ I pLI rjl ai 322 4221/ 3 (Direct) or at 221 281 I |hL|
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      Page 25 Advertisements Column 1
      353 25 M«f Come and admire exquisite items which are much sought after by collectors around the world to add to your collection or as gifts for loved ones. I They make perfect gifts which will be cherished for years to come. Many of these fabulous collectors' items can be yours at
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      Page 26 Advertisements Column 1
      47 26 That Man From TANIA Is Back! I J l.j 1 I 1 ■>.&- i i i i t I v w W l i I I I I I The First Solo Album ZUL' eatures BEAT THE DRUMS, REPENT DRIFT AWAY CDs Cassettes Marketed By PONY CANYON SINGAPORE
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      Page 27 Advertisements Column 1
      216 27 I Someone dose has been Kving Your son in Canada ■■EXMH is studying for some years. nverwas You've given up overseas. wrttiifithose HPfnH Cgtetters. KUUlfifl want mm The Str^tsHmes close to home weekly teds It bettec -with news (He might from home. comeback after readtag all ■qmiMTH the good news.)
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    • Advertisement
      Page 27 Advertisements Column 2
      230 27 It's Qntek and Easy. Get injknt J cash for yow shares over the KjtJ counter at any of onr 28 branches. Use the loan for any purpose. Loans frou $2,000 to $100,000. fej: MANY OF OUR CUSTOMERS p HAVE ENJOYED THE BENEFITS! p YOU CAN TOO P HONG LEONG RNANCE
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      Page 29 Advertisements Column 1
      39 29 Tlie best Business Class to Europe? Finnair's new wide bodied MD-11 offers speed, comfort and space that's miles ahead of its competitors. Call your travel agent or 733 3377 for more details. know the world from start to Finnish.
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      Page 29 Advertisements Column 2
      25 29 Difficulty in getting a copy of Her Worki, Go, Singapore Business, Home Decor, Young Parents? Call our Hotline 749 2577 for locations of nearest newsstands.
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      Page 29 Advertisements Column 3
      70 29 ■>.:. jPSwgjlllf HI &fg $§1 MMf %W?'r£ y l§ M 1 IMBf iliillll 11 1 m Wl ii "X 2i»wt 3&& &w /%s&>&/ Wf&SSmfi* w~~ The high. The hangover. Behind Singapore's throbbing pub scene. Which pub tops the pops? Where do women hang out? Do women matter? What do you
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  • Page 29 Miscellaneous
    • Miscellaneous
      Page 29 Miscellaneous Column 1
      158 29 28 Catch agent setting off chain reaction (7) g Caught young lady with 25 Roman Catholics coming > nothing on, a journalist (7) from tropics with a helmet '•DOWN 13 Not Alan falling in a dance (4) 1 Room where Kenneth con- A YESTERDAY'S SOLUTION tains his restless desire (7)
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    • Miscellaneous
      Page 29 Miscellaneous Column 2
      170 29 Singapore Outlook: Cloudy, with shower* over several areas ia the iftaaooa aad 11 M/AitifllA emn> nniinjj. Report; Maximum temperature 29.9 Assoc humidity.—... 68% Minimum temperature 24.0 Assoc humidity 93% Hours of sunshine 1.55 Rainfall in mm trace Rainfall this month 496.0 Rainy days this month 19 World report Asia-Pacific Hi/Lo*
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    • Miscellaneous
      Page 29 Miscellaneous Column 3
      25 29 I iNTfc TOujn FMOMG. RT EQUIVALENT OF A wTT 1-icr k ounr SORT OJV mess SPRGHS-Tri UJtJ&TtRN of PRoaueras AND pklqnc. IMTQ-mg.SUNSET.... t 081b IW2-HM
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      1674 30 TODAY'S TV The Baghdad Threeßears (See Movies). JJ-JJ Sy'V"!****" l l Saturday SflCCBf Se- 12.00 HW Wwt (M). The Thief of Baghdad, 9pm, The Adventurers, 1.30pm, (Spain) v La/io (It- I 12.15 PMKflllh RmhM AngkaSBCI2 SBC 5 115 gSll. This 1924 Arabian Nights Having oppo- 12 45 AM Ck>ta 1155
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      Page 30 Miscellaneous Column 2
      651 30 MOVIES ON TV The Satanic Rites of Dracala, Ministry of Information who Mod, 10.30pm, SBC 5 tries to track down his dream Last of the Hammer films' lT a nightmarish worid. Dracula series has the count Cast includes Robert De Nias a modern-day industrialist ro with a multi-storey crypt. He
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