The Business Times, 22 May 1993
1993-05-22
1
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The Business Times
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Title Section15 1993-05-22 1 SINGAPORE Business Times MITA (P) 552/12/92 Weekend Edition, May 22-23 1993 WE KNOW ASIA 75®15 words
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795 1993-05-22 1 Genevieve Cua - By Genevieve Cua SINGAPORE Prime Minister Goh Chok Tong yesterday urged Singapore companies to spread their investments in the region and not put ail their eggs in one basket. "This makes not only good ceonomic sense but also sound politics." Mr Goh795 words
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357 1993-05-22 1 Lilian Ang - By Lilian Ang SINGAPORE Some five to 10 property speculators have been identified by the Singapore tax authorities and may have to pay taxes on the gains from residential property transactions. Disclosing this yesterday, a spokesman from the Inland Revenue Authority357 words
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132 1993-05-22 1 Bernama KUALA LUMPUR Malayan Banking Bhd has revised its base lending rate downwards from 8.75 per eent to 8.6 per eent effective today. The bank's managing director, Mr Ahmad Mohd Don, said in a statement here yesterday that the revision was based onBernama - 132 words
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175 1993-05-22 1 AFP Reuter TOKYO Tall buildings swayed violently in Tokyo yesterday and a child was injured when a medium-intensity quake shook the city and surrounding areas. The quake registering 5.2 on the Kichtcr scale and lasting more than 20 seconds, also brought a number ofAFP; Reuter - 175 words
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397 1993-05-22 1 Ramesh Divyanathan - By Ramesh Divyanathan SINGAPORE Would you go on strike for breakfast? Thirty Federal Express employees did yesterday. The 30 drivers, clcrks and other workers at the US air express company's Kaki Bukit office stopped work yesterday morning to protest against the sacking earlier397 words
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382 1993-05-22 1 Loh Hui Yin - By Loh Hui Yin SINGAPORE Foreign ministers from China and Russia will attend a major meeting here in July aimed at engaging them in dialogue on security in the Asia-Pacific region. The July 25 meeting will also involve the foreign ministers382 words
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2am LATEST
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63 1993-05-22 1 Reuter OTTAWA Officials discussing supplementary accords to the North American Free Trade Agreement arc facing serious obstacles on US proposals to apply sanctions to settle disputes, a Canadian negotiator said. John Weeks said the difficulties involved the way the side deals would be appliedReuter - 63 words
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62 1993-05-22 1 Reuter WASHINGTON Senate Energy Committee chairman Bennett Johnston, who on Thursday launched a proposal to kill US President Bill Clinton's proposed energy tax. yesterday said he was open to compromise on the overall budget package. "I think what we have done is toReuter - 62 words
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63 1993-05-22 1 Reuter LOS ANGELES Three groups competing for the right to develop the technology for high definition television are expected to sign an accord to develop the standard, the Los Angeles limes reported yesterday. The groups involve General Instrument and the Massachusetts Institute ofReuter - 63 words
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Article, Illustration116 1993-05-22 1 Stock market indices t-rida) hintc Sill 1.861.86 -14.54 KI.SE omposilc 729.35 -5.76 Nikkei 20.557.47 +227.08 HangScng 7.I69.46 51 SEI Index 858.37 -7.24 J.ik.iit.11 omposilc ...326.44 +0.03 (ISAChinjII I.I58.14 -32 18 Ausl All Old 1.645.6 +114 f ISE 100 2.812.2 -4 6 Kridav Frc»k>u\ I pm close l>ou Jones116 words
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Page 1 Advertisements
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Advertisement9 1993-05-22 1 Lifestyle over VB|> > .',flL execs A l|J |H eli9 words
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Advertisement22 1993-05-22 1 Unit trusts Cost-effective investments in region el 4 PACK 2 Role of public sector How pooling information and sharing skills will help22 words
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Advertisement192 1993-05-22 1 Stockwatch Ay fc/ rr r nvFD W Lltcclt rising /rlqU ihq ysfatf VjJ Hock Lock Siew Rough ride for SI A management Pg 5 .iJr US Democrat rebellion threatens to kill energy lav, Back Pg •Working group for regional security. Back Pg Of lasting value This watch belongs to the192 words
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Advertisement56 1993-05-22 1 CONTENTS Mews CoiiipniiM Spore News 2 S'pofHK'sia .5.6 Regional News 3 Financial 7.8 World News 4 Features Martets Opnons El 3 Ctob KLSE. SES 11.12 Investment E14,5 Regional .9 Sports 13.14 NmM 10 TV Litestyte EL 12 Currences J Regional focus 15 Sm*i,Commo 7.8 Subscription Tel 1800 *****77 Fa. *****7556 words
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SINGAPORE NEWS
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333 1993-05-22 2 Genevieve Cua - Forum on regionalisation Reports by Genevieve Cua THE public sector should develop a business dimension in its work to help Singapore go regional, says a paper tabled for discussion yesterday in a regionalisation forum hosted by the Economic Development Board. Produced by a high-level333 words
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373 1993-05-22 2 A WORK GROUP formed to look at how the public and private sectors can work together to help Singapore go regional tias come up with suggestions focusing on. among other things, ways to share information and upgrade the skills of companies. The373 words
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Article260 1993-05-22 2 Helen Chang - By Helen Chang THE Health Ministry is raising fees for government acute hospitals, polyclinics and dental clinics. The new fees are in line with the Government's plan to reduce subsidies, particularly for higher class wards, and maintain medical standards. It will be the third260 words
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322 1993-05-22 2 Corinne Kerk - By Corinne Kerk THE green movement has called on the Textile and Garment Manufacturers' Association of Singapore (TGMAS) to focus on producing environmentally friendly products. The result could be higher costs but at the same time higher sales. "More and more322 words
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Article, Illustration394 1993-05-22 2 Dexter Lee - By Dexter Lee THE local marine industry took a breather last year from its scorching run of seven consecutive turnover records since 1984. The combined total dipped 13 per cent from the all-time high of 53.13 billion in 1991 to 52.72 billion last year. Association394 words
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306 1993-05-22 2 A J Leow - By A J Leow ONLY TWO out of a dozen sites were sold at a property auction held by Colliers Jardine yesterday despite a strong turnout of nearly 300 people. A Colliers Jardine spokesman said bidding was cautious and offers were generally S306 words
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243 1993-05-22 2 THE STERLING'S slide since the UK left the European Exchange Rate Mechanism last year is making London properties very attractive to Asian investors. said property consultant firm Richard Ellis. Its London representative. John Slade. said UK properties offered the same opportunities as243 words
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SINGAPOR EROUNDUP
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49 1993-05-22 2 CHINA'S Defence Minister Chi Haotian yesterday called on Minister for Defence Yeo Ning Hong during a three-day visit to Singapore. Gen Chi. who is also a state councillor, will also call on Prime Minister Goh Chok Tong and Senior Minister Lee Kuan Yew today.49 words
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60 1993-05-22 2 MORE than 160.000 television tubes went up in flames when a fire broke out at a warehouse of Asahi TV Glass, a Japanese company, here yesterday. The Singapore Broadcasting Corporation reported that no one was injured in the fire. The report said the extent60 words
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73 1993-05-22 2 THE Subordinate Courts yesterday said it will open a Second Criminal Mention Court next month. The Subordinate Courts now operate only one Criminal Mention Court at Court 26. The new Court 23 will hear criminal cases at the magistrate level, while the existing court73 words
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53 1993-05-22 2 DR ALINE WONG, Minister of State for Health, will lead a delegation to the United Kingdom. Finland and Sweden from May 24 to June 4. The delegation will hold discussions with the health authorities there and visit major primary healthcare institutions and healthcare facilities53 words
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Article47 1993-05-22 2 IN BT's May 11 Property Page story on Lippo Centre, we said that the former owners of Cho Building went into receivership. This is incorrect. Yap Yeow Lam Brothers actually went into members' voluntary liquidation in September 1989. We are sorry for the error.47 words
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Page 2 Advertisements
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Advertisement76 1993-05-22 2 rm Business Times WE KNOW ASIA H Prrpfr.t' ii K. ERNEST WONG, president of the United Overseas Bank and chairman of the Association of Banks in Singapore, explains how these complaints could have arisen. Why the local banks are raising so much capital. And why the playing field is not76 words
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Advertisement9 1993-05-22 2 SICK Sjjp VERTISE YOUR JOB OPENINGS ie APPOINTMENTS' columns9 words
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THE REGION
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650 1993-05-22 3 Reuter AP TOKYO Japan fired its latest salvo in an escalating trade battle yesterday by attempting to recast the terms of the debate and to attribute its persistent surplus to factors beyond its control. The Ministry of International Trade andReuter; AP - 650 words
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Article, Illustration162 1993-05-22 3 Reuter JAKARTA President Suharto installed General Feisal Tanjung as Indonesia's new armed forces commander yesterday. Gen Tanjung replaces Edi Sudradjat, who remains defence minister. The new commander was behind the preparation of a confidential military report that indicted three senior officers for aReuter - 162 words
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360 1993-05-22 3 South China Morning HONGKONG A new proposal for financing the multi-billion-dollar airport and airport railway projects, which sees the I longkong government shouldering a much greater greater share of capital injection into the plan, has been forwarded to China. In a majorSouth China Morning - 360 words
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440 1993-05-22 3 Reuter WELLINGTON Australian Prime Minister Paul Keating, on his first foreign visit since being re-elected two months ago, issued a veiled warning to neighbouring New Zealand yesterday not to cut its defence spending further. Mr Keating said at the start ofReuter - 440 words
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351 1993-05-22 3 AFP KUALA LUMPUR France and Malaysia arc to sign a pact in Paris next month to promote defence cooperation, particularly in the training of Kuala Lumpur's military. "France is ready to enter into a defence memorandum of understanding (MOU) with Malaysia," said Frederic GrassetAFP - 351 words
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255 1993-05-22 3 Reuter CANBERRA Rather than opt for politically unacceptable spending cuts, particularly in social services and health, the Australian government is likely to look to raising taxes to fund a yawning budget deficit. Economists said yesterday that the government is unlikelyReuter - 255 words
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298 1993-05-22 3 Reuter BEIJING China and Britain began a third round of talks over political reform in Hongkong yesterday, but neither side held out any prospect for an early resolution to their bitter dispute. Sir Robin McLaren, the British ambassador to Beijing who isReuter - 298 words
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243 1993-05-22 3 AFP MANILA The Philippine government is considering legal moves against banks and other parties involved in the construction of a mothballed nuclear power plant. A Department of Energy (DOE) official said yesterday that the decision was made after a US court acquittedAFP - 243 words
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ASIA NOTES
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104 1993-05-22 3 AP DILI, Indonesia An East Timor rebel leader who had helped organise bjpody pro-independence protests was sentenced to life in prison yesterday. The sentencing drew a sharp reaction in Portugal, the former colonial power in East Timor. Human rights groups also criticised the move. JoseAP - 104 words
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69 1993-05-22 3 Reuter SYDNEY Media magnate Kerry Packer remains unchallenged as the richest Australian. The Business Review Weekly, which is not owned by Mr Packer, yesterday put the personal wealth of the gambling and polo-playing 55-year-old at about As 3 billion (553.33 billion), up about As3oo millionReuter - 69 words
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Article, Illustration28 1993-05-22 3 Reuter TAIPEI About 7,000 employees of Taiwanese state-owned enterprises and their families marching through Taipei yesterday in a demonstration to demand higher pay. ReuterReuter - 28 words
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64 1993-05-22 3 Reuter HONGKONG Inflation in Shenzhen. China's booming special economic zone neighbouring Hongkong, reached 16.6 per cent in the first four months of 1993, its highest level for four years. The lien Wei Po daily said yesterday that the figure, based on an index of residents*Reuter - 64 words
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Article58 1993-05-22 3 Reuter BEIJING China has released from prison one of its longestheld Catholic clerics. Bishop Wang Milu, an American human rights activist said yesterday. Bishop Wang, an underground church bishop who was arrested for having contact with the Vatican and ordaining priests, was believed held in aReuter - 58 words
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92 1993-05-22 3 Bernama KUALA LUMPUR The government is finalising a plan to raise the national poverty income line from MS 175 to between M 5275 and M$3(X) per month. Finance Minister Datuk Sen Anwar Ibrahim said yesterday that the plan and the allocation, which was beingBernama - 92 words
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264 1993-05-22 3 Reuter TAIPEI Taiwan's economy is expected to grow by 6.3 per cent this year, lower than the previously forecast 6.6 per cent, amid a decline in both exports and government spending. Officials said yesterday that due to the global economic slowdown and theReuter - 264 words
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Page 3 Advertisements
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Advertisement12 1993-05-22 3 QI:-cqi;ATI: THE WESTIN HOTELS IN riii-; MM >i c v Y<, OFFICE.12 words
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THE WORLD
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WORLD WATCH
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110 1993-05-22 4 NYT WASHINGTON John A Rollwagen, the computer expert US President Bill Clinton had named to be an architect of his technology policy, withdrew his nomination as Deputy Secretary of Commerce on Thursday amid a persistent investigation into insider stock trading. The withdrawal of Mr Rollwagen. theNYT - 110 words
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Article, Illustration55 1993-05-22 4 Reuter LONDON Anne Scargill, wife of coal miners leader Arthur Scargill leading a protest of miners' wives at the High Court on Thursday. British Coal had asked the court to declare that it could now close all 10 pits at the top of its original hitReuter - 55 words
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82 1993-05-22 4 Reuter MUNICH, Germany Theo Waigel confirmed he would remain German Finance Minister and his rival Edmund Stoiber would be the sole candidate for election as Bavarian state premier next week. Mr Waigel told a news conference in Munich that the Christian Social Union (CSU)Reuter - 82 words
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90 1993-05-22 4 AFP GENEVA Some 14 million people worldwide are infected with the Human Immune-deficiency Virus (HIV), the precursor of Aids, the World Health Organisation (WHO) said yesterday, warning it was spreading fast in Asia. Eight million of those infected live in sub-Saharan Africa. But theAFP - 90 words
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467 1993-05-22 4 IHT FRANKFURT Given the choice, most Germans would rather get a grip on their country's transformation before moving towards closer European ties, and an overwhelming majority wished Danish voters had rejected European unity, according to a poll published on Wednesday. AnotherIHT - 467 words
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526 1993-05-22 4 NYT LONDON After 204 hours of debate and manoeuvring that preoccupied the British capital for over six months, the House of Commons passed the Bill to ratify the Treaty on European Union on Thursday night, moving Britain closer to becoming the 12th andNYT - 526 words
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389 1993-05-22 4 Reuter LONDON Britain's main inflation rate fell to 1.3 per cent in April from 1.9 per cent in March, the lowest rate since February 1964. But the reasons for the fall were superficial. The fall was due chiefly to a radical overhaul of Britain'sReuter - 389 words
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Article, Illustration462 1993-05-22 4 Reuter CARACAS Venezuela's Senate was set yesterday to suspend President Carlos Andres Perez and approve his trial by the Supreme Court on corruption charges. Mr Perez, who has survived coup attempts, riots and political feuds, proclaimed his innocence after the court voteReuter - 462 words
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510 1993-05-22 4 FT BRUSSELS The European Commission is close to concluding radical plans to tackle Europe's growing unemployment crisis, including the possibility of member states adjusting tax and social security policies to create jobs. The plan, expected to be agreed by theFT - 510 words
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Article235 1993-05-22 4 FT Reuter MOSCOW Russia is demanding repayment on harsh terms of the trillions of roubles it is owed by the other former Soviet republics. Members of the Commonwealth of Independent States, they are ostensibly committed to establishing a closer economic union. In talks with theFT; Reuter - 235 words
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526 1993-05-22 4 Clinton warns proposed safe havens can create shooting gallery Reuter WASHINGTON US President Bill Clinton said yesterday he was sceptical about Russian efforts to bring peace to Bosnia and warned that proposed safe havens there could create a "shooting gallery" like those in LebanonReuter - 526 words
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Page 4 Miscellaneous
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Miscellaneous114 1993-05-22 4 UijpbiWAaißßlgWgi iweßes no poentioh of "Tgue., cmPTeR NiN£Ty six TfcovJßte 03VTH *W WOfcD PROC£SSOR, rv> pn Pe-N P.nd P\ ASV6.TuNPUBLiSHeD 7 p F**, p> com?uTeß.... OO rnE.Niiu>i LIVING OEPJM OFFICE, Pv4o ll j' N IH£ T€CV4NOLOGNf.... o^—L> De?PNR3MeMT' IS THAT <0\ 'Tis -rKRje old r r v 7) FfKSHIONED. I114 words
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COMPANIES & MARKETS
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Article, Illustration338 1993-05-22 5 Joseph Rajendran - By Joseph Rajendran SINGAPORE Computer designer and manufacturer IPC Corp rode on the stock market's speculative wave to rise 28 per cent from its issue price on a volume of 80.5 million shares during its debut yesterday. Dealers said buySource: Bloomberg - 338 words
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Article, Illustration459 1993-05-22 5 Rahita Elias - By Rahita Elias SINGAPORE National carrier Neptune Orient Lines expects improved earnings this year to come from operations rather than ship sales. The group, which believes 1993 turnover will match that of 1991, saw earnings per share slide 32 per cent459 words
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591 1993-05-22 5 Dexter Lee - HOCK LOCK SIEW By Dexter Lee SINGAPORE Employees of Singapore Airlines (SIA) must be feeling rather disappointed. what with the prospect of ending up with just a half-month bonus this year. That amount is determined by a profitsharing formula which all591 words
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258 1993-05-22 5 R Sivanithy - By R Sivanithy SINGAPORE The Stock Exchange should allow orders to be accumulated overnight and on weekends so the recent daily overloading can be avoided, a visiting academic said yesterday. Speaking on The Increasing Globalisation of Securities Trading: Implications for Listed C258 words
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239 1993-05-22 5 Johor waterworks corporatisation before privatisation Bernama JOHOR BARU The corporatisation of the Johor Waterworks Department early next year is in preparation for its privatisation. Chief Minister Haji Muhyiddin Yassin said yesterday that corporatisation would make the service more efficient and upgrade the capability of the department in various matters. includingBernama - 239 words
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135 1993-05-22 5 Bernama KUALA LUMPUR Malaysia and Indonesia are set to be the foundation for the world's biggest concentration of the oleochemical industry in Southeast Asia. United Plantations Bhd chairman Basir Ismail said that of the total production of 36 million tonnes of palm oil forecast byBernama - 135 words
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Article, Illustration364 1993-05-22 5 Source: Bridge Info Performance of STll's Index stocks May 21 lis) Stn« Index Slock sal* C h|K factor aMxtn (i) (1) S Atimo 2 290 0.040 1.72 t&t 6950 -0 150 5 22 I4.C Ccrcbos 5 50 -0 050 4 02 4<l K&N 12 300 -0 5t)0 9 24Source: Bridge Info - 364 words
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COMPANIES
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COMPANY BRIEFS
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Article45 1993-05-22 6 SINGAPORE Singapore Aerospace Systems has won a threeyear USS4 million (556.4 million) job to repair transceivers on the US Navy's aircraft. The contract is the second won by the company, which is a subsidiary of Singapore Aerospace.45 words
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98 1993-05-22 6 SINGAPORE Ipco's shares will start trading on the main board of the Stock Exchange of Singapore on Tuesday. A total of 39.620,340 shares will be traded. Substantial shareholders Leighton Holdings and Promet have each undertaken not to dispose of their 13.329.152 shares each98 words
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131 1993-05-22 6 SINGAPORE Sesdaq-listed Horiguchi Engineering yesterday announced that it has agreed to buy the freehold property at 88 Villa Delle Rose. Taman Nakhoda, Singapore 1025. for 5i.35 million in cash. The property was purchased from Pontiac Investments. Ten per cent of the gurchase price131 words
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Article96 1993-05-22 6 SINGAPORE Provisions Suppliers Corporation Ltd yesterday announeed that it has acquired 50 per cent plus one share of Lau's Food (S) Pte Ltd for $450,001 in cash. Lau's Food has a 60 per cent stake in Lau Fatt Kee Foods (Sdn) Bhd. which is96 words
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295 1993-05-22 6 Helen Chang - By Helen Chang SINGAPORE The Wuthelam Group and Nippon Paint Corp plan to set up seven more plants in the Asia-Pacif-ic region with a combined operational investment of US$lOO million (SSI6I million). The factories will be opened over the next two295 words
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349 1993-05-22 6 AFP MANILA An ethnic Chinese tycoon has bought a controlling interest in a Philippine telecommunications firm after British giant Cable and Wireless held back support for the venture, company officials said yesterday. John Gokongwei. whose interests range from shopping malls and banks toAFP - 349 words
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Article, Illustration409 1993-05-22 6 AFP TOKYO Japanese video games giant Nintendo Co Ltd yesterday said its group earnings before tax rose 2.8 per cent from a year earlier to a lower-than-expected 166 billion yen (552.42 billion) in the year ended March. The Kyoto-based companyAFP - 409 words
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177 1993-05-22 6 Knight-Ridder LONDON British Airways used almost identical "dirty tricks" in a campaign to destabilise Air Kurope, the airline that went bankrupt in 1991, as it did against its rival Virgin Atlantic Airlines. The Guardian newspaper reported yesterday. The techniques used against UK-ownedKnight-Ridder - 177 words
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243 1993-05-22 6 Reuter AMSTERDAM KLM Royal Dutch Airlines NV denied it was in a state of organisational chaos and urgently needing fresh equity, following a Dutch newspaper report of an accountancy firm's assessment of the company. "Compared to other companies we have a relatively strongReuter - 243 words
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514 1993-05-22 6 Reuter TOKYO A strong yen is again forcing Japanese manufacturers to shift production abroad to slash costs and maintain profits, leading to worries that this latest exodus would "hollow out" Japan's industrial structure. The yen's rise to 110 to the US dollar, aReuter - 514 words
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Article472 1993-05-22 6 UNIT TRUSTS FUNDS Managers' print <$) Mas 22 24 Insurance Fund Singapore Unit Trust llKonw ***** ,olK > :o 1 The Coaimcrcc 1.36 143 Prudential J&TrE i?, iiS ..4 Spore Sec Fund 0.91 096 MARA-Bumiputra 101 ox Fin. Bputra I 7| 76*d Spore bquitv fund 064 0 67 Sccond B'putrj472 words
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Article1376 1993-05-22 6 Payment Ex Bowks Pay (Si dale close date Ac ma F 7.5 Jun 10 Jun 22 Jul 5 Apollo F 2.5 Jun 21 Jun 25 JullS Boustcad 50* I 7.5 Apr 22 Mas 7 Jun 4 B Raya F 3 Ma\ 25 Jun 9 Jul 8 Cathay Pac1,376 words
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FINANCE & COMMODITIES
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318 1993-05-22 7 Quak Hiang Whai - By Quak Hiang Whai SINGAPORE Singapore's Big Four banks have participated as lead managers in one of the biggest property loans in Hongkong. DBS Bank, OCBC Bank, Overseas Union Bank and United Overseas Bank arc underwriting part of a HKS2.B billion318 words
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418 1993-05-22 7 Nirmal Ghosh - By Nirmal Ghosh SINGAPORE Major investments in infrastructure and environment, and reforms of state enterprises will be required to sustain East Asia's rapid economic growth, according to the World Bank. Although regional governments generally recognised these priorities, they should also pay more attention418 words
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174 1993-05-22 7 Bernama KUALA LUMPUR Malaysia's credit worthiness was given a boost following the enhanced ratings by two United States-based rating agencies. In January this year. Standard and Poor's Asia Ltd upgraded Malaysia's credit rating from stable to positive. This was followed in May by Moody'sBernama - 174 words
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240 1993-05-22 7 AFP BEIJING The Chinese government has decided to raise interest rates on treasury bonds to entice an as yet reluctant public to buy them, a finance ministry official said Frida>. The rate on three-year bonds will be raised from 10 per cent toAFP - 240 words
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Article, Illustration435 1993-05-22 7 DBS weekly currency review US$/DM: STRENUOUS CLIMB US$/Dm traded higher this week, from 1.6025 on Monday to 1.6300 on Wednesday, meeting the double bottom objective of 1.6287. Thereafter, the unit shed its gains to 1.6118 before recovering to trade around the 1.6150 level on Friday morning. Although435 words
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382 1993-05-22 7 Bloomberg ENERGY REPORT Bloomberg Business News LONDON Crude oil futures prices in London and New York yesterday held on to the previous day's gains in relatively light trading. Prices rose moderately as traders squared their positions ahead of the weekend, brokersBloomberg Business News - 382 words
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Article, Illustration120 1993-05-22 7 THE USS was mixed yesterday against the regional currencies. It was firm against the SS. but weak against the ringgit. The USS/SS opened at the low of the day at 1.6135/40 and remained firm through the day despite sporadic selling interest. It touched a high120 words
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Article177 1993-05-22 7 Reuter LONDON Gold and the dollar strengthened in quiet European trading yesterday but share markets ignored Wall Street's latest record high closc and moved slightly lower. Gold's recent rally, which pushed priccs to a post-Gulf War high of US$3B4 an ounce on Wednesday, lost some of its steam butReuter - 177 words
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Article86 1993-05-22 7 AFP NEW YORK The dollar climbed against other major currencies except the yen in quiet trading yesterday, in the absence of any new economic indicators. At around 1315 GMT the dollar traded at 1.6270 marks against 1.6135 on Thursday, and at 110.30 yen (110.65). In London the dollarAFP - 86 words
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Article, Illustration1664 1993-05-22 7 >aJc h ci\ihti\l inJt'x cak ulatctl aiguin\t Spine's ittf* 14 ira Jinx pannes Bum' yixtr. /4tfs US$/S$ forward rates Noon May 21 ss Bid Offer 1-month 1.6140 I.6I5S 2-month ***** 1.6157 3-month 1.6145 1.6160 6-month 1.61 S3 1.6173 Sown (X Hi Source: OCBC FOREIGN CURRENCY NOTE RATES As at ISm1,664 words
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COMMODITIES & FUTURES
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1461 1993-05-22 8 SIMEX REPORT Reuter SINGAPORE Simcx Eurodollar futures ended softer with fresh selling interest depressing prices from the start of the session, traders said. The contract was pressured by weak US bond prices as well as the overnight release of US money supply figures showing anReuter - 1,461 words
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Article657 1993-05-22 8 COMMODITY REPORTS Tin lIN closed unchanged at VIS 13.98 a kg. oft' the day's high ol VIS 14. Initial strong buying interest fizzled after prices moved upwards at the start. Bids were 85 tonnes against offers of 59 initially and turnover settled at 59657 words
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KNIGHT-RIDDER COMMODITY SUMMARY
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Article58 1993-05-22 8 SINCE traders have reduced spot treatment and refining charges for copper concentrate and Chinese demand for import material is slow, little business is heing done. Spot offers for combined treatment and refining charges for 30 per cent copper concentrate are now 20 US cents a58 words
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Article50 1993-05-22 8 SMALL copper consumers from China arc still in the market but only at target prices around US$l,7OO a tonne, compared to current cash prices of US$l,B4O. There were small sales to China at U551,760-U551,1770. Although demand is steady, depreciation of the yuan has curtailed imports.50 words
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Article63 1993-05-22 8 CENTRAL American colfee growers have agreed to limit the amount of colfee their nations are exporting as a way to drive up prices. Representatives from Nicaragua. Honduras. El Salvador. Gua- temala and Costa Rica, which control 12-14 per cent of the world market, agreed to63 words
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Article82 1993-05-22 8 JAPAN began its long-awaited domestic July-Sep son meal business in earnest on Thursday, spurred partly by the US dollar's decline against the yen that day. Domestic sales were made at an historic low price of slightly below 34.000 yen per tonne because of the82 words
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Article50 1993-05-22 8 C'LOSURL of a shaft this year at Western Platinum's biggest mine in South Africa: Any shortfall resulting from the closure of the No 2 shaft will be offset by higher production at other shafts, leaving Western Platinum's target of producing 480.000 ounces of platinum this year intact.50 words
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Article1642 1993-05-22 8 Rubber May 21 IMS Commodity Exchange (futures closing as at 1pm) HAS (physical prices) RSS 1 Contract (S ccnts/kg) Buyers Sellers lose Volume Open As at 12 noon O ccnts/kg) Month High Low Sett (tonnes) Interest RSS 2 Jun 43 128.00 124 OON Jun 43 Jul Aug 01,642 words
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REGIONAL STOCK MARKETS
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Article1190 1993-05-22 9 11.4 SHARES ended the week on a strong note, buoyed by upbeat bank forecasts, a rise in US markets and a recovery in the three-month futures contract. The All Ordinaries Index closed up 11.4 points at 1.695.6. The All Industrials gained 17.8 to 2.629.9 while the All Resources rose1,190 words
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Article577 1993-05-22 9 -3.62 The Manila Composite Index dipped 3.62 points yesterday to close at 1.572.10. Volume was valued at 144 million pesos, compared with 209 million pesos on Thursday. Industrial stocks lost ground, while mining issues gained on rising international gold prices, and oil issues rose on reports of promising exploratory577 words
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Article586 1993-05-22 9 -46.38 Stocks closed lower in thin trade as sentiment remained bearish and most buyers stayed on the sidelines, brokers said. The Weighted Index spent the entire session lower and closed 46.38 points down at 4,300.25. Turnover totalled NT523.19 billion against Thursday's NT525.07 billion. Brokers said players were discouraged by586 words
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Article445 1993-05-22 9 +0.62 The stock market gained for the fifth consecutive session but ended only fractionally firmer as selling of large<apitalisation shares took a toll on the solid gains posted by small- and me-dium-sized companies. The Composite Stock Index added 0.62 points to 727.99. Brokers said the market would stage a445 words
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Article298 1993-05-22 9 -8.85 The share market drifted to a lower close, due mostly to minor falls in the leading stocks. The NZSE-40 Capital Index lost 8.85 points at 1.618.60 Trade was quiet, with many local fund managers absent, but turnover was worth a reasonable NZ$3B.5 million. Telecom ended two cents298 words
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Article50 1993-05-22 9 +54.68 Share prices ended sharply on relief brought by settlement of a pay dispute between brokers and their employees, brokers said. The row had closed the market for two days. The BSE Index rose to 2,364.65. up 54.68 points from Tuesday's close. The National Index rose 27.7 to 1.085.85.50 words
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WORLD STOCK MARKETS
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Article777 1993-05-22 9 -4.6 UK EQUITIES finished a fairly dull session mixed, with favourable inflation data failing to stimulate the market and little other fresh news to influence shares, dealers said. The FTSE 100 Share Index ended 4.6 points lower at 2.812.2 after hitting a session low of 2.810.1. The FTSE 250777 words
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Article66 1993-05-22 9 The Paris market report was not available. Paris Mat 21 Kr Xit-CkiuiJc MMJU unch \kjld \Mh>m M <(») 1 lit III Vjuil 1M *0 I VI (■ilrrVRjrhjuc lll>U> uurec KMO .:uo Mkhclm 141 <0 4 hi V-Mk •»;;<! mi -*oo Vxsk. HvJr.. 1.17.40 »*P 11*00 Pcu*r>«S\ <»OW) <00 Philips66 words
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Article136 1993-05-22 9 +I.Bopc Swedish stocks rallied to a new year-high yesterday and the bullish trend is likely to continue next week with the OMX-index testing the 875level. dealers said. Buying interest in heavyweight stocks was strong, despite the fact that many players were absent due to the Ascension Day holiday spilling136 words
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Article214 1993-05-22 9 -6.82 Share prices were lifted marginally by options-relat-ed buying in the last 10 minutes of trading as settlement prices were calculated on today's options expiry. But bourse remained disenchanted by lack of investor interest, and trading volumes were slim since many operators were away. "There's no enthusiasm in the214 words
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Article84 1993-05-22 9 The Brussels stock market was closed for a public holiday yesterday. Brussels Ml) I* Itaan FORWARD MARKET %G Fa ;4mi 19 IflH M \rbrd Ml If) Xslui M§ Mm t| C jnpjv $M 2 < IM urkh TKr B<ri> 4<«> ftn I lev 11 jN:I <. iwit (pi :i*>84 words
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Article210 1993-05-22 9 -3.00 Italian shares ended mixed, with cyclical stocks rising and shares that have soared recently sagging. A trader at Sigeco said movements either way were limited as investors sat out to sense the market's direction after the Bank of Italy trimmed half a percentage points off its key interest210 words
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Article202 1993-05-22 9 1.67 Dutch shares closed higher yesterday, pushed up by a strong close on Wall Street on Thursday. Dealers expect the EOE index to slip somewhat from its current level after the options expiry later yesterday. The index ended up 1.67 points at 306.66. Amsterdam Mm 21 l-h \B\'\mro 5150202 words
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Article250 1993-05-22 9 +6.5 Swiss shares closed mixed to firmer in moderately active trade. Dealers said profit taking took prices off early highs. The bourse's key indices had reached new lifetime highs in strong, options-driven opening trade. Dealers were cautiously optimistic about next week and the SMI blue-chip index was seen between250 words
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Article316 1993-05-22 9 17 Shares closed lower yesterday after bouncing off morning lows only to retreat again near the close as the gold price hovered around the USS373 an ounce level. "It's not an easy market to pinpoint at the moment because of the unsettled gold price movement, but there's a firm316 words
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Article257 1993-05-22 9 +20.30 Toronto stocks remained in firmer territory at midday yesterday with support from a hot gold sector and gains in oil and gas shares, dealers said. "It's really quiet out there." one trader said. "Gold's been bouncing around and a few of them are starting to firm up again."257 words
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Article846 1993-05-22 9 +23.25 Wall Street stocks were lower yesterday as investors took profits after two days of record closes. At 1 pm tDT. the Dow Jones Industrial Average was down 13.29 points at 3.509.99. Declines led advances by a l()-7 margin, on volume of about 150 million shares on the846 words
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Article580 1993-05-22 9 Vienna Mat 21 W-ti M 15*5 Rjnk \u>liulPl < -ttvi .tri I.I III lumeHin/l MM I v-n/mn **I li>kjm I Mocf-OP I'I uivh M i 1295 uiKh VliMW 215 4 Vk icru'itviv I Source: Nasdaq \la> >0 fs* \J*4pto «*irs Rir«in|i -41 \ppk* I «»mpulff I (J ~NI I Mil580 words
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Article, Illustration3220 1993-05-22 10 Reuter PROPELLED by Thursday's news of fresh Si noBritish agreement, stocks closed at a new record high despite profit-taking chopping off more than half of the early gains. The blue chip Hang Seng Index rose 51 points to finish the week at 7,169.96, giving up more than half ofReuter; Source: Bridge Info - 3,220 words
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Article, Illustration488 1993-05-22 10 THE decline in the Shenzhen A market continued yesterday. Stocks fell across the board in moderate irading. The CLSA Shenzhen A Index dropped 62.53 points to close at 2.617.46. Selling sentiment also caught up with the Shenzhen B market yesterday. Stocks moved sharply lower in modest trading. The day's488 words
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Article, Illustration2576 1993-05-22 10 Reuter STOCKS ended firmer, though )ff the day's highs, on active investment trusts buying of lowpriced large-capital issues. But jverall, trade was light and quiet Aith many other investors rereating to the sidelines as about UK) companies announced earnngs results yesterday. "Many investment trusts for ow-priced shares are scheduledReuter; Source: Bridge Info - 2,576 words
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Article, Illustration1843 1993-05-22 10 Reuter STOCKS lost ground as disappointment over worse-than-expected earnings this week soured market sentiment. brokers said. The SET Index shed 7.24 points on the day to 858.37. with volume moderate to thin at 2.5 billion baht. There were 51 gainers. 165 losers and 67 unchanged. Banks led trade, withReuter; Source: Bridge Info - 1,843 words
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Article, Illustration1081 1993-05-22 10 Reuter TRADING on the Jakarta stock exchange was dull and prices ended mixed. The Official Index closed 0.03 higher at 326.44 points. Most foreign players stayed out ol" the market because they concentrated on more bullish markets in Singapore and Hongkong, dealers said. Interest remained strong on cable andReuter; Source: Bridge Info - 1,081 words
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Article, Illustration2738 1993-05-22 11 Source: Bridge Info Source: Bridge Info MOST ACTIVE volume Kvnong Bhti MV 26.75"" .000 Promct I 7.2 7 2 <<*> kvc sv. izhmjiob idm 6vS»jam MBt < upit.il 6.41(4.0(10 uncrjl( orp 6.447.000 Innovcsl Bhd 5.*****0 f jher (iroup 5.700.000 IdnsHvdMV M»7« Mctropkx Mk MMJyno l(>B Corpn 50c 4M3AMUSource: Bridge Info - 2,738 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration5429 1993-05-22 11 Bernama THE Kuala Lumpur Stock Exchange closed easier yesterday on profit-taking. Dealers described the downturn as a technical correction after the market had gone up feverishly earlier in the week. The KLSE Composite Index closed at 729.35 points, down 5.76 points from Thursday. AfterBernama; Source: Bridge Info - 5,429 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration1162 1993-05-22 12 Quak Hiang Whai - By Quak Hiang Whai THE Singapore market closed on an easier note yesterday after tour consecutive bullish sessions this week. The underlying market sentiment, however, remained generally bullish, traders said. Speculative Malaysian and Sesdaq counters continued to dominate trading but dealers said activity ofSource: Bridge Info - 1,162 words
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Article, Illustration76 1993-05-22 12 Quak Hiang Whai - HOT STOCK Quak Hiang Whai TONGKAH has broken the S2 level and is headed for S2.20. As its daily and weekly RSls are slightly in the over-bought region. the stoek is likely to consolidate at SI.90-52.20. Things look more bullish in the longer term as the monthly chart showsSOURCE: BRIDGE INFO - 76 words
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Article6429 1993-05-22 12 MAIN BOARD Of (rf IM2/M Lei Vol Da> Last Ouotr Di» Di» Md Nrt M Ci» IliKh Low (ompan> Safe ("000) High Lo» Bujct Seller Or PIt Smil INDUSTRIAL AND COMMERCIAL 770 1 70 Acma 675 cd -5 431 690 650 675 680 12.5 2.1 l.» 29.2 4650 220 2106,429 words
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Page 5 Advertisements
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Advertisement419 1993-05-22 5 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-737 0043 FAX:734 3698 I The following certificates have been reported lost, mislaid or destroyeJNam# of Company Cart. No, In tha namt of No. of sharu Marco Polo A *****30/2034 OngAhKeow 5x1,000 Developments C *****86 Fee Yen Wee 500 Limted Malayan Credit A *****85 Khoo419 words
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Advertisement162 1993-05-22 5 IN THE MATTER OF THE COMPANIES ACT. CAP. 50 AND IN THE MATTER OF NITECH ENTERPRISES (S) PTE. LTD. (IN MEMBERS' VOLUNTARY LIQUIDATION) Notice is hereby given, pursuant to Section 308 of the Companies Act. Cap. 50. that the Final meeting of the members of the abovenamed Company will be162 words
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Page 6 Advertisements
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Advertisement156 1993-05-22 6 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-737 0043 FAX:734 3698 6 Hong Kong Stamps used in Simm mn 1895 envelop* from Bangkok to USA bearing Iot cancelled by "chessboard" and circular kandstamp "U.S. LEGATIONI BANGKOK'. This envelope it unique Lot 43 Estimate: 5590,000 *****.000 THE PRAKAIPETINDHUSOPHON GRAND PRIX COLLECTION OF SIAM156 words
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Page 8 Advertisements
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Advertisement46 1993-05-22 8 EXCELLENT RETURNS A Finance required for Resort Hotel, Residential Property and Mining Projects in Australia. For information fax to PERTH FINANCE INSURANCE SERVICES 61-9-*****71. "Ideal in cameras. Andlknow whereto get good exposure." N||3|gj *oihVr PT *****18 (sS vhs. I Call today for results tomorrow. CATS. 737-116646 words
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Advertisement32 1993-05-22 8 As and »hen the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead s~sSss ojjers the n* osl current list ojjob opportunities I available. y32 words
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Page 9 Advertisements
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Advertisement13 1993-05-22 9 PORT SHOTS The latest in sea, air and land transportation. Business Times m13 words
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Page 10 Advertisements
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Advertisement7 1993-05-22 10 property CONSTRUCTION Every Tuesday, in Business Times7 words
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Page 11 Advertisements
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Advertisement18 1993-05-22 11 Why the telecom world's biggest players see Asia as its fastest-growing grid BusinesslT. This Monday, in Business Times18 words
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Page 12 Advertisements
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Advertisement7 1993-05-22 12 BusinesslT Every Mondav, in Business l imes7 words
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SPORTS
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467 1993-05-22 13 NBA playoffs Reuter SAN ANTONIO. Texas Charles Barkley hit a jumper from the top of the key with 1.8 seconds left to give Phoenix a 102-100 victory over the San Antonio Spurs on Thursday, moving the Suns into the Western Conference finals.Reuter - 467 words
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Article, Illustration155 1993-05-22 13 Reuter UPI LONDON Big defender Andy Linighan was the unlikely hero for Arsenal as his last gasp winner gave his side a 2-1 victory over Sheffield Wednesday in the English FA Cup Final replay at Wembley on Thursday. Linighan, playing with a suspected broken nose, croppedReuter; UPI - 155 words
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SCORE CARD
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Article, Illustration250 1993-05-22 13 AP NEW YORK Major League results Thursday American: Cleveland 3 Baltimore I: Detroit 6 Milwaukee 2; Toronto 4 Boston 3; Seattle 7 Texas 4; Oakland 4 Kansas City 1 (12 innings). Standings (W L Pet GB) East: I. Detroit 25 14 .641 2. New York 23 17 .575 2AP - 250 words
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Article, Illustration241 1993-05-22 13 Reuter Reuter AFP TOKYO Pepsi-Lbe tournament leading second round scores Friday (Japanese unless stated): 132 Todd Hamilton (US) 66 66. Seiji Ebihara 66 66 133 Toru Nakamura 68 65 135 Ken Kusumoto 70 65. Ikuhiro Funatogawa 68 67. Tcruo Nakamura 66 69. Shigeki Maruyama 63 72. Also: 137 EduardoReuter; AFP - 241 words
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Article, Illustration21 1993-05-22 13 Reuter NEW YORK NHL Hales Conference final Thursday: NY Islanders 1 (OT) Montreal 2 (Montreal leads best-of-seven series 3-0).Reuter - 21 words
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Article, Illustration149 1993-05-22 13 AFP AFP AP DUSSELDORF, Germany World team Cup Thursday Blue Group: USA b Russia 3-0 (Pete Sampras b Alexander Volkov 7-5, 6-1; Michael Chang b Andrei Chesnokov 6-1. 6-4; Patrick McEnroe/Richey Reneberg b Andrei Olhovskiy/Volkov 6-3. 6-4). Spain b Switzerland 2-1 (Carlos Costa lost to Jakob Hlasck 1-6, 6-3.AFP; AP - 149 words
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Article, Illustration471 1993-05-22 13 Golf AFP MODENA, Italy New Zealand's Frank Nobilo and Greg Turner led the field on a birdie rampage in the first round of the Italian Open here on Thursday. Despite soaring temperatures and a rapidly rising pollen count which left manyAFP - 471 words
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595 1993-05-22 13 Robert Lipsyte - By Robert Lipsyte NYT NEW YORK Ultimately, Jeff Torborg was done in by Pat Riley's hair. Not by an outfielder's insecurity or a general manager's ineptitude or the media's ravenous appetite. although he took the rap for all that. too. Torborg was firedNYT - 595 words
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SIDELINES
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Article92 1993-05-22 13 Reuter POTOMAC, Maryland New Zealander Grant Waite grabbed the first-round lead and American Tim Simpson took a significant step in his comeback from a debilitating illness when he carded a four-under-par 67 to trail Waite by a stroke at thi Kemper Open on Thursday. Simpson. 37,Reuter - 92 words
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Article, Illustration82 1993-05-22 13 Reuter WELLINGTON The British Lions will open their 13-match three-test tour of New Zealand today with a game against North Auckland and the tourists want a "quality performance" The game against second division North Auckland in Whangerei is one of the easiest the Lions faceReuter - 82 words
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77 1993-05-22 13 AFP SYDNEY China is to build its first professional motor racing circuit in Zhuhai in Guangdong province with the help of an Australian engineering company, it was announced yesterday. Kinhill Engineers said it had signed a contract to desigr and co-ordinate construction of the circuitAFP - 77 words
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Article80 1993-05-22 13 AP NEW YORK Rookie of the Year Shaquille O'Neal of the Orlando Magic and Alonzo Mourning of the Charlotte Hornets were unanimous choices on the National Basketball Association All-Rookie team announced on Wednesday. Joining them on the first team were Christian Laettner of the Minnesota Timberwolves. TomAP - 80 words
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Article1667 1993-05-22 13 o& rirtt it* nm n®_ a$ n*n n* njM n»_ Aky DkjM GA929 1120 Ha CM MM City VN743 1315 VN742 1415 MaMM SQ228 2120 GA839 2105 <—■ RJ187 0135 tlinrft't C1665 1420 CX714 0840 Anisterten KL837 1445 KL838 2310 CX713 1500 SQ860 0915 SQ323 17251,667 words
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Article, Illustration1032 1993-05-22 14 The French Open Tennis AP PARIS No Monica. No Andre. No Jimbo or Mac. The French Open is missing them all this year, leaving the Grand Slam event short on personality, controversy and drama. Sure, most of the top players will be here when the USSB.IAP - 1,032 words
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Page 13 Advertisements
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Advertisement48 1993-05-22 13 Fly Finnair's new MD-11 the world's most technologically advanced aircraft Fly Finnair's new wide bodied MD-11 to Europe and find out why long hauls are a thing of the past. Call your travel agent or 733 3377 for more details. We know the world from start to Finnish.48 words
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SHIPS IN PORT
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Article520 1993-05-22 14 Vessel Voy Wo Berth Arrival Departae Vessel Voy No Berth Arrival Pepytwe JurOftK Port Maiu Y Hua 09/93 P04 alongside 2106/1830 Asian Ho5 AH 004 J8 alongsrte 22.05/1500 Mataram 34WB P09A alongside 2205/1500 Chrysanth. 1/93 111 alongside 2205 1800 Meter,purl 091 P10 alongside ?}«}"0 Goohef 0/3 alongside520 words
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Article2265 1993-05-22 14 DELIVERY OF FCL IMPORT CONTAINERS IN PROGRESS Sty Voy No Containers avaiabfe Ship Voy Wo Contwm araiaMe Yinhe 79 2005 93 0735 Manhattan Br 63E COOtEST) *****3 1500 P Garfield 073W *****3 0920 Okunoje 28S COOtEST) *****3 1500 00CI Honour 246 20.05 93 1000 B Seroia 2081 COOtEST)2,265 words
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Page 14 Miscellaneous
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Miscellaneous487 1993-05-22 14 1 CRYPTIC CROSSWORD 1 Sway to and fro, nHi about to HI 8 Furniture seen on more M j j than three hoardings? (4Important person jjj^^Z 13 Airman is liberated 16 Whopper perhaps from ___|BL_ German chemist (6) 19 I 1 1 18 Note a concoction made of [J 1487 words
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REGIONAL FOCUS
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Article, Illustration1412 1993-05-22 15 Discontent in rural China NYT GUIYANG, China The worst part about being a peasant like Luo Qingguo is not the pangs of hunger or the sooty shack in which his family lives. The real torment comes when the tax collectors show up onNYT - 1,412 words
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Article599 1993-05-22 15 AP BEIJING At the Four Star Gold Store on trendy Xidan Avenue, shoppers crowd around the counters to inspect glittering 24-carat chains, rings and pendants. They're not just oohing and aahing. They're buying. "The price of gold will go up." explained Wang Hong. 20, asAP - 599 words
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Page 15 Advertisements
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Advertisement328 1993-05-22 15 THE COMPANIES ACT, CAP. 90 FUTAT ENTERPRISE IMPORT A EXPORT PTE LTD (Mwnbar'a Voluntary Liquidation) At an Extraordinary Ganaral Meeting of tha Members of the above company duly convened and held at 19th May. 1993. the fotowing Special Resolution was duly passed. That the Company be wound up voluntarily and328 words
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Advertisement957 1993-05-22 15 BANK OF INDIA (Constituted in India) BALANCE SHEET AS AT 31ST MARCH 1992 (OOO's omitted) (OOO's omitted) CAPITAL A LIABILITIES INDIAN RLPEES PROPERTY A ASSETS INDIAN RLPEES CAPITAL 469.00.00 CASH AND BALANCE WITH RESERVE BANK OF INDIA 1989.71.32 RESERVES AND SURPLUS 197.82.14 BALANCES WITH BANKS AND MONEY AT CALL AND957 words
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431 1993-05-22 16 FT Reuter WASHINGTON Democratic senators launched a rebellion on Thursday which threatened to kill US President Bill Clinton's proposed energy tax, a cornerstone of his economic proposals aimed at raising about US$7O billion (S$ 112 billion) over five years. The revolt cameFT; Reuter - 431 words
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Article, Illustration422 1993-05-22 16 Reuter AFP AP UNITED NATIONS The Security Council on Thursday put its stamp of approval on Cambodia's first-ever election, starting tomorrow, and threatened unspecified measures against any party which disrupted the poll. A resolution, adopted by a 15-0 unanimous vote after threeReuter; AFP; AP - 422 words
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69 1993-05-22 16 SINGAPORE The Ministry of Foreign Affairs yesterday advised Singaporeans intending to go to Cambodia to consider postponing non-essential travel to the country until there is a clearer picture of the situation following the general elections there from May 23 to 28. Those who69 words
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456 1993-05-22 16 Reuter LONDON A system of "warning lights" should be set up to alert European Community nations to currency strains and prevent a re-run of last September's turmoil in the Exchange Rate Mechanism (ERM), top monetary officials say. A confidential report by theReuter - 456 words
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335 1993-05-22 16 Chuang Peck Ming - Reports by Chuang Peck Ming SINGAPORE Senior officials of Asean and its dialogue partners, wrapping up two days of talks on regional security, agreed yesterday to set up a working group to seek ways to contain conflicts, keep the peace and335 words
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220 1993-05-22 16 SINGAPORE The Cambodian election, scheduled for May 23-28, should go ahead despite any attempts to disrupt it. senior officials of Asean and its dialogue partners said yesterday. And it was essential that the international community kept a close eye on developments in the country220 words
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225 1993-05-22 16 Nirmal Ghosh - By Nirmal Ghosh SINGAPORE The Five Powers Defence Arrangement (FPDA) is still a relevant and useful means to maintain stability and security in the region. notwithstanding other discussions on regional security. Malcolm Rifkind, the UK Secretary of State for Defence. said at the225 words
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127 1993-05-22 16 Bloomberg Business News HONGKONG Hongkongs private sector labour force received average pay increases of between 11.32 per cent and 11.90 per cent in the year ended April I, 1993. according to the results of a Hongkong gov- ernment surveyBloomberg Business News - 127 words
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483 1993-05-22 16 Reuter SINGAPORE Asia, poised to become the world's biggest economic power in less than 10 years, is also fast turning into its biggest air polluter. The Asia-Pacific region will belch more greenhouse gases into the air than any other region by 2025, saidReuter - 483 words
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270 1993-05-22 16 AP TOKYO Japan's 10-month-old securities watchdog filed its first criminal complaint yesterday. accusing a speculator and a former finance company executive of manipulating stock prices. The action renews debate over whether the Securities and Exchange Surveillance Commission can be an effective monitor ofAP - 270 words
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473 1993-05-22 16 AP GUANGZHOU The vision of expressways, shopping centres and telephones for all seemed like pure southern California. But the place was south China and the occasion a Communist Party congress yesterday. where a few Mao suits were still visible among the limosAP - 473 words
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Page 16 Advertisements
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Advertisement10 1993-05-22 16 •7 rt 3 i) 1 IF* Monday in Business Times10 words
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Executive Lifestyle
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Article, Illustration1706 1993-05-22 17 Susan Tsang - How do Singapore executives travel when they have to do so out of their own pockets? Susan Tsang finds out Susan Tsang WHEN travelling on business, do like the business people do. Fly business or first class, stay in top hotels, order room service, get your clothes1,706 words
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STRAWS IN THE WIND
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Article90 1993-05-22 17 REMEMBER the news report about the five ex-ACS boys who paid $23 million for a parcel of land in Jervois Road to build a kampong of bungalows? Check out this ad in the next day's classifieds: "The ACS Kampong Build your own dream home... Ideal for the rich90 words
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Article48 1993-05-22 17 TIME and tide wait for no man, and neither do hot stocks. A reporter who called an analyst friend to check on the latest activity in IPC shares was promptly told, "Hey, can you call me later? I have to sell my shares first."48 words
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Article75 1993-05-22 17 SOME bridal couples just can't wait for their wedding night, or so it would seem. A pastor recalls with amusement how, whenever it comes to the exchange of rings, some nervous couples, instead of saying something like "take this as a symbol of my true love and Fidelity"75 words
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OPINIONS
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1289 1993-05-22 18 Neville Stack - Neville Stack would like to see London's spycatchers nab the people who have been bugging the telephones of the royal family Neville Stack The writer is a UK-based journalist w ho contributed this commentary to B'T IN certain countries I have been1,289 words
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Article, Illustration808 1993-05-22 18 Stephen Vines - From the Golden Triangle in northern Thailand, Stephen Vines reports on what Thailand can do to cripple the drug lords Stephen Vines The writer is a Hongkong-based journalist who contributed this commentary to BT Mac percncu high in the hills near808 words
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Article, Illustration712 1993-05-22 18 Brian Gomez - In Sydney, Brian Gomez finds the markets eagerly waiting for Paul Keating to put his fiscal house in order and shore up the weakened A$ Brian Gomez The writer is a Sydney-based journalist who contributed this commentary toSource: Bloomberg - 712 words
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360 1993-05-22 18 Chua Cheh Hiang - LETTER TO THE EDITOR Chua Cheh Hiang Kor Permanent Secretary (Communications) Ministry of Communications WE THANK Mr Kwek Lec Huat for his letter, "How to improve traffic flow without the ERP" (BT. May 15). Where feasible, measures for improving road efficiency, such as the ones360 words
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VIEWPOINT
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Article, Illustration2708 1993-05-22 19 Margaret Thomas - Goh Yew Lin, director of G K Goh Holdings, talks to Margaret Thomas about the state of Singapore's broking industry and what it takes to be a good broker. He also discusses the importance of music in his life CONVERSATIONS AT RAFFLES Margaret Thomas IRRATIONAL retail2,708 words
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Article490 1993-05-22 19 GOH YEW LIN has been in the broking business in one form or another since he was nine years old. "My father and my uncle and various others started EG Tan Co in 1968. My uncle EG was the son of Tan Lark Sye. "My490 words
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Article619 1993-05-22 19 IT WAS a moderate interest that turned, while he was a student at the Wharton School of Business at the University of Pennsylvania. into a desire to become a musicologist. "I discovered a great music department there. I went to some concerts of the Philadelphia Orchestra and got619 words
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PERSONAL FINANCE & INVESTMENT
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BULL' S EYE
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Article, Illustration50 1993-05-22 20 Those polled on their views of the Singapore stock market for the week ahead: Daiwa Securities Singapore. DBS Asset Management. Morgan Grenfell Asia Securities. OCBC Securities. Ong Company. Peregrine Securities. Phillip Securities. Tat Lee Securities. L'OB Securities and WI Carr. Figures denote number of respondents50 words
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Article150 1993-05-22 20 Phillip Securities (May 21) Wing Tai. Buy on dips. We have revised earnings upwards especially in FY95 due to massive profits from residential projects. FY93, FY94 and FY95 earnings growth are expected at 40 per cent, 64 per cent, and 94 per cent respectively with PE (price-earnings) ratios of150 words
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Article, Illustration254 1993-05-22 20 Kim Eng Securities (Hongkong) The first part of the week was dominated by profit-taking on the bourse, but the positive outcome from the Joint Liaison Group (JLG) meeting on Thursday pushed th Hang Seng Index to 7,160, up 164 points, at the close of theSource: Bridge Info - 254 words
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Article, Illustration257 1993-05-22 20 Paul Schymyck - Paul Schymyck Regional Economist Hoare Govette Securities Singapore Pte Ltd HE sharp rebound I in economic A growth, the abatement in inflationary pressures, lower interest rates and a rapidly improving balance of payments position will make Malaysia one of the most attractive economies in Asia in 1993.257 words
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Article, Illustration1525 1993-05-22 20 Lilian Ng - These instalments are the most cost-effective means of investing in the bourses of the region, says Lilian Ng Lilian Ng The writer is a regular contributor of stock market-related articles to BT WITH stock markets around the1,525 words
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Article, Illustration921 1993-05-22 20 Joseph Rajendran - STOCK By Joseph Rajendran BARELY nine months ago, Eltech's stock was in the doldrums. Analysts were disappointed when the group reported a big drop in profits the company's first results since going public in July 1992. Times have changed. Since January, every other broking house has921 words
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517 1993-05-22 20 Brian Gomez - The P/E ratios of the world's exchanges signal a sell. Brian Gomez reports Brian Gomez AN investment strategist at one of Australia's largest banks has warned that "most of the world's main stock markets have warning lights flashing." Andrew Quinn of the National Australia517 words
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Article, Illustration1392 1993-05-22 21 A J Leow - if you are backed by a good solicitor, says A J Leow A J Leow Acquiring a London property can have its anxious moments for Singaporean buyers who are unfamiliar with British law. Fortunately, there are British solicitors who1,392 words
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Article, Illustration625 1993-05-22 21 Joyce Quek - An auction of one of the finest collections of stamps from Siam will be held in Singapore on Thursday. Joyce Quek has the details Joyce Quek TAY PENG HIAN believes that the May 27 auction of stamps and covers by London-based auctioneers Christie's International at The625 words
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451 1993-05-22 21 Investing your CPF savings: DBS Bank replie: Q: Is it necessan to reveal the Investment Account to our dealer to buy or sell shares? A: Yes. you have to inform your dealer that you are buying or selling shares under451 words
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786 1993-05-22 21 Paul Leo - LEARNING By Paul Leo UNDERSTANDING stock indices will help investors towards a profitable and enjoyable endeavour. Stock indices relieve investors of the burden of monitoring all 377 counters traded on the Stock Exchange of Singapore. More importantly, it is used to measure the movements in786 words
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Article, Illustration230 1993-05-22 21 Paul Leo - Spotlight currency Bv Paul Leo NOW THAT the Danes have voted 'yes' to the Maastricht referendum oil Tuesday, investors should lock in the high yield ofTered by the European Currency Unit 7.5 per cent for a 3nionth deposit asSource: Bloomberg - 230 words
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Article, Illustration651 1993-05-22 22 JAIME EE - Cinema R cvicw By JAIME EE IT SEEMS like such a wonderful arrangement. A woman's husband goes off to war, is missing in action, but suddenly appears seven years later so much kinder, sexier and more loving than he ever was before. Seems like a good enough651 words
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Article, Illustration582 1993-05-22 22 SUSAN TSANG - By SUSAN TSANG TAKE one soap opera star, put her in a wheelchair, put star and chair in a beautiful otA house down by the bayou in Louisiana, and you should get a recipe for another opera. But John Sayles takes all that, ttttDws in a nurse,582 words
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Article, Illustration1174 1993-05-22 22 Susan Tsang - Susan Tsang reviews a National Museum exhibition that brings together 64 gems of Asian art Susan Tsang JOHN D Rockefeller HI founded the Asian Society in 1956 to increase American understanding of the Orient. In keeping with this aim. he bequeathed his collection of1,174 words
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Article, Illustration1172 1993-05-22 22 MARK GRAHAM - Travel Notes By MARK GRAHAM The writer is a Hongkong-based journalist who eon tribute J this artiele to Exit ut ive Lif est vie WHAT Philippine dictator Ferdinand Marcos wanted he usually got. So when he decided to support the African wild lifeChris Davis - 1,172 words
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Article, Illustration577 1993-05-22 23 STEPHEN VINES - Book Review By STEPHEN VINES The writer is a Hongkong-based journalist who contributed this review to Executive Lifestyle Poet and Dancer By Ruth Prawer Jhab>ala John Murray £14.99 RUTH Prawer Jhabvala is probably better known for her work as a scriptwriter with the formidable Merchant-Ivory filmmaking team, creators577 words
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HEALTH & FITNESS
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N«»es
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Article94 1993-05-22 24 NYT TEENAGERS may stay up late not because they're trying to make their parents mad hut because of biological changes their bodies are going through, a new study suggests. Researchers at Brown University found that those who were more physically mature went to bed laterNYT - 94 words
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Article115 1993-05-22 24 Health Singapore A FEMALE dieter was so hooked on carrots that her skin and the whites of her eyes turned orange. Not only did she chomp on one kilogram of carrots daily, she even started hanging out at the race-track, to steal from a supply kept forHealth Singapore - 115 words
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Article91 1993-05-22 24 NYT SWIMMING-pool water may aggravate the nasal passages of people with sinus problems, researchers at Henry Ford Hospital in Detroit reported recently. They found that swimming-pool water, more than ocean or lake water, tends to dry out nasal passages. That makes the sinuses more likely toNYT - 91 words
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173 1993-05-22 24 NYT DOCTORS have been warning for years that smoking, over-eat-ing and a sedentary lifestyle all increase the risk of having a stroke. But now they have one more vice to knock: visits to the beauty parlour. Having your hair shampooed at theNYT - 173 words
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Article115 1993-05-22 24 NYT THE SELECTION of over-the-counter cold medications at your local drug store may seem overwhelming, until you realise that not one of them will work for your toddler, a review of over 50 published studies has shown. In fact, these medications may pose a significant riskNYT - 115 words
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Article, Illustration749 1993-05-22 24 Susan Tsang - Susan Tsang suggests some ways to help our body stay in tip-top condition Susan Tsang IT IS normal for the body to deal with toxins and other wastes. They can't be avoided and even if we lived in a sterile environment and drank distilled water, the749 words
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PEOPLE
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Article, Illustration209 1993-05-22 24 A JOVIAL, fit-looking Deputy Prime Minister BG Lee Hsien Loong and Mrs Lee. resplendent in red brocade cheongsam. headed the list of special guests at the Vienna Opera Ballat the Le Meridien Singapore last week. Organised by the hotel and the Singapore Symphony209 words
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Article, Illustration128 1993-05-22 24 TEN BANKS joined hands to put up a US$3B million (Ss6l million) loan for one of Thailand's largest finance and securities company, Phatra Thanakit. The loan signing ceremony graced by the Thai ambassador, took place at Raffles Hotel last Monday. The arranging banks included Fuji Bank, BFCE128 words
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TIME OFF
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Article, Illustration808 1993-05-22 25 Shahiron Sahari - Shahiron Sahari unravels the mystery behind Flanagan Shahiron Sahari ONE OF the newer pubs in the Tanjong Pagar pub enclave is a place called Flanagan Jukebox Bistrotheque. Opened last November. Flanagan sounds Irish even to the uninitiated but in truth, there is no great808 words
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Article, Illustration561 1993-05-22 25 Corinne Kerk - Corinne Kerk on the opening night performance of Same Time Next Year Corinne Kerk A MAN notices a woman in a restaurant. As the place was famous for its steaks, he decides to buy her a portion and even cuts a slice of his steak to561 words
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Article205 1993-05-22 25 The Squeeze A presentation of seven outstanding 10-minute American plays by Action Theatre. Flay titles include Poop., Bread. .-1 Private Moment and Visiting Dad. Till May 25, Bpm at the Jubilee Hall. Raffles Hotel. Tickets at $15, $20 and $25 available from Sistic outlets. Hotline: *****59. Same Time Next205 words
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Article202 1993-05-22 25 The De Wilde Quartet A concert by four of France's wellknown jazz musicians, this is presented as part of the first French Festival in Singapore. May 25. 9pm at Kashah. The Mandarin Singapore: May 26 and 27, 9.30pm at Somerset's Bar. The West in Plaza. La Vie En Rock202 words
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Article152 1993-05-22 25 The Blue Planet Produced in cooperation with Nasa. this takes you on a trip to space where the Earth seems suspended in a limitless void. Travelling over the planet, we see the Straits of Gibraltar, the sand dunes of the Namib Desert and the snow-capped mountains of the Himalayas.152 words
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Article531 1993-05-22 25 Christie's Auctions With two auctions in the same day. The Prakaipet Indhusophon Collection ofSiam Stamps And Covers (10.30 am) and Malaya And Thailand Stamps And Covers (3pm) are events which serious stamp collectors must not miss. May 27 at Ballroom I. The Oriental Singapore. Viewing Days are531 words
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Article, Illustration249 1993-05-22 25 Audrey Tan - Compiled by Audrey Tan Still Building Three youngsters are trapped under a mass of rubble when a building collapses. Presented by The Necessary Stage, this play represented Singapore at the Cairo International Experimental Theatre Festival last year and boasts a theme song by AWOL. which performs on249 words
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EPICURE
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Article, Illustration675 1993-05-22 26 Mark Graham - Mark Graham meets a 73-year-old Beijing chef who can teach you a thing or two about doctorate-level economics Mark Graham The writer is a Hongkong-based journalist who contributed this article to Exeat live Lifestyle THE restaurant recipes were created by expert chefs for long-dead Chinese emperors;Mark Graham - 675 words
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Article, Illustration298 1993-05-22 26 JAIME EE - Great lunch deals for under $20 Bon Appetit By JAIME EE SOME buffets have this awful tendency of being cheap and terrible, or expensive and good. But you don't need to spend upwards of $30 to get a decent all-you-can-eat bash, if you look carefully. That298 words
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Article279 1993-05-22 26 CALL it a Bibik alert, but where Peranakans go, plebians follow. And when an entire brood of Peranakan ladies came home raving about Shangri-La Hotel's nonya buffet lunch, we figured that it was worth checking out. Sited at the lush Waterfall Cafe, the $18.50 nonya lunch boasts an279 words
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Article, Illustration742 1993-05-22 26 N K YONG - Wine By N K YONG BERINGER Vineyards is one Napa Valley winery which the Chinese can literally lay claim to have contributed to building. The cellars were tunnelled into the hillsides by Chinese labourers in 1876, the date of the founding of the winery, and arc still742 words
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Article, Illustration1105 1993-05-22 28 Aladdin. An upwardly mobile street teen becomes a prince, thanks to a genie with the voice and wit of Robin Williams. Disney's most psychedelic feature since Fantasia. Orchard: II; 1.30: 4; 6.45: 9.15. Marina I: I: 3.30; 5.30; 7.30; 9.30. Pavilion: I; 3.30; 5; 7; 9. Bedok 2: 1.30;1,105 words
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Page 17 Advertisements
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Advertisement246 1993-05-22 17 □□[s][A] I CALL, TOLL-FREE I oaaa-Daaaaaa unwaimwa WMMCC DQoos|oofl BOSS rwjfllct For once, moving in the right circles means setting a trend not following it. The new Audi 100 needs no and even extends to COE. You'd "Wcobiw ouanao «vu' wkik reassuring badge. Just four say the same for our246 words
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Page 18 Advertisements
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Advertisement167 1993-05-22 18 *1 1 1 I Mm Mm II it II f B f I II I i H i I I II I H if J 1 ml II Il| We didn't re-invent the wheel... we just made it disappear. Samsonite's latest convenient and compact Swing-Wheel Cart** is a revolutionary luggage167 words
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Advertisement45 1993-05-22 18 J B'l welcomes letters f C from you. Please J v s address them to: r I he lull tor. j Business l imes. 390 kirn Seng Rd, J S'pore 0923. letters should include your J contact numbers. Doonesbury and Bristow are on Page 445 words
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Page 20 Advertisements
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Page 23 Advertisements
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Advertisement67 1993-05-22 23 F 1 7 —n *kzS&Ld&*' m SP\i B^Bk I K^ E3Hng& 9p£*3HP A buffet spread of authentic French cuisine. v*j »V^s^ N At only $26++, it's as affordable as a S lE tin 6iii jihib. > ~%4^ kb carte menu also avaiUMe at the StmrtforriC<)fe. gr f v l >g'67 words
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Page 26 Advertisements
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Advertisement19 1993-05-22 26 CENTRE STAGE Keep in step with the culture beat. The Arts. Every Monday. SINGAPORE Business Times WE KNOW ASIA19 words
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Advertisement78 1993-05-22 26 A egetarian Treats m at China China fl M Restaurant set menu I m for 10 from $268.00 amaguri ('Live' big clam) at Nishiki Restaurant served in 4 tantalising styles all at $12.00 (2 pieces) For reservations, please call our Restaurant Manager at 221 2811. Our nyliomr thr |>«Mu to78 words
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Page 27 Advertisements
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Advertisement700 1993-05-22 27 Nothing Beats A Bud, OF f HIGH IEA AT CAR CAROUSEL Adult $1080++ Child $880++ You'll find the most delicious variety of dim sum, pastries, nonya kueh and cakes, at our high tea buffet. Only on Saturdays and Sundays from 1 3pm to 5.30pm. ft (safe i Garousel 24-boiir toffee700 words
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Advertisement292 1993-05-22 27 WHERE TO WINE, DINE AND ENTERTAIN Make Up For Every Meal You've Had To Skip This Week If you've been living on a solid diet of work-and-not-much-else lately, give yourself a well-earned rest and head for the Plaza Hotel's Seafotxi-Theatre Restaurant this weekend. Select any item from our special a292 words
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Advertisement296 1993-05-22 27 Delectable Yoag Taa Foo Buffet at TJT* Chatterbox every Saturday aad Saaday. 12.30 pan to 5 pa $14.50 per peraoa $8.50++ per child (below 10 yra) Mezarw* Snaiptnou* Contiaeatal it Local Afteniooa Tea spread at Mezzaaiae Loaage. Dally. 2 pa to i pa $16.00 per peraoa $10.00++ per child (below296 words
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Page 28 Miscellaneous
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Miscellaneous2468 1993-05-22 28 TODAY'S TV to perfect Do*. 10.30 Robotechll. Adventures SpeedKanan Kiri OK 11, 3.25pm, SBC 5 Wonders In China, 9am, SBC 8 0-00 Cine Showcase Some- racer. Rio offered a A look at the unique rituals of K*"* Arthur and the Qing tribe, a display |j qq Saturday Soccer Ital- 122,468 words
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