The Business Times, 19 June 1993

Microfilm: NL18530
Total Pages: 28
1 28 The Business Times
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  • Title Section
    Masthead
    14 1 Business Times WE KNOW ASIA MITA (P) 552/12/92 Weekend Edition, June 19-20 1993 75*
    14 words
  • Article, Illustration
    Lock icon Markets sag as confidence vote brings down Miyazawa's govt
    572 1 Parliament dissolved New elections expected within 40 days Bloomberg Business News Reuter, AP, TOKYO The yen slipped against the US dollar and Tokyo shares finished lower, following Prime Minister Kiichi Miyazawa's loss of a vote of confidence in parliament yesterday and
    Bloomberg Business News; Reuter,; AP,; Source: TeleTrac  -  572 words
  • Article, Illustration
    Fifth man charged in OSA case, trial postponed, lawyer discharges himself
    759 1  -  By Ramesh Divyanathan SINGAPORE The case of four men accused of breaching the Official Secrets Act (OSA) took a dramatic turn yesterday when a fifth person was charged just days before the trial of the four was to begin.
    759 words
  • Article
    Speculative stocks back in play as KL market rebounds
    502 1  -  By Amy Balan SINGAPORE The Roller Coaster is going up again. Malaysian stock prices rebounded sharply yesterday as punters moved in for bargains after the stomach-churning dives of the previous three days. If there was any lingering fear of a repeat
    502 words
  • Article
    SIA planes included in Boeing recall of all 747 jets
    161 1 SINGAPORE Boeing Co will recall all its 747 jumbo jets, including Singapore Airlines' fleet of 37, to modify engine struts following Boeing inspections prompted by two accidcnts in the last 18 months. The strut holds the engine to the wing
    161 words
  • Article
    Big step forward for HK airport project as tunnel gets go-ahead
    392 1  -  From Stephen Vines in HONGKONG BRITAIN and China yesterday took a significant step towards overcoming difficulties surrounding the building of Hongkong's new airport by agreeing to construction of a HKS7 billion (551.46 billion) cross-harbour tunnel to provide improved access
    392 words
  • 2am LATEST
    • Article
      Lock icon US$ soars to highest levels since March '92
      91 1 Reuter LONDON The US dollar soared to its highest levels since March 1992 during a frantic day's trade as sentiment swung heavily in its favour. "It's been pandemonium," said the head of forex at one US bank. Traders said the market was
      Reuter  -  91 words
    • Article
      Lock icon Approval for plan to cut US deficit
      76 1 Bloomberg Business News WASHINGTON The Senate Finance Committee yesterday approved a plan to reduce the federal deficit by US$5OB billion (SSBI3 billion) over the next five years. The plan was approved 11-9 on a party line vote. The plan contains a tax on
      Bloomberg Business News  -  76 words
    • Article
      Lock icon German upper house rejects tax reform plan
      53 1 Reuter BONN The German upper house of parliament yesterday rejected government plans for the reform of the country's corporate tax structure. The reform is aimed at improving Germany's competitiveness in international markets and is a part of the so-called solidarity pact designed to
      Reuter  -  53 words
  • Article, Illustration
    MARKET SUMMARY
    110 1 Stock market indices Friday C Inner STII 1826.20 +13.21 KLSE Composite 735.25 14.79 Nikkei 19.804 54 -120.97 Hang Seng 7,200.75 +11.65 SET Index 888 84 +8 18 Jakarta Composite ...355.64 +0.71 Ausl All Ord 1.730.4 +3.2 FTSE 100 2,879.4 +3.7 Friday Prrrimn I lam Dow Jones 3.510.82 3.521.89
    110 words
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  • SINGAPORE NEWS
    • Article
      Dealings within related firms may get GST exemption
      496 2  -  Select Committee on GST Bill By Chuang Peck Ming SINGAPORE A company may not have to pay goods and services tax for purchases made from a sister company when the tax comes into effect next April. Finance Minister Richard Hu said yesterday
      496 words
    • Article
      CCL issues MeraSaga priority booking list
      260 2 CYCLE Carriage yesterday released a list of its directors and their relatives who were given priority in booking units at its Holland Village condominium project called gaThe group set aside 29 out of the 116 units at Chip Bee Gardens for this purpose, but
      260 words
    • Article, Illustration
      Chiam steps down as SDP sec-gen, Chee Soon Juan takes over
      458 2 VETERAN opposition politician Chiam See Tong has stepped down as secretarygeneral of the Singapore Democratic Party, the party said in a surprise announcement yesterday. He will be replaced by his deputy, SDP assistant secre-tary-general Chee Soon Juan, who will
      458 words
    • Article, Illustration
      Two new property projects get good response
      515 2  -  By Kooi Cho Teng THE current wave of interest in residential properties has not waned, judging from the overwhelming response at the public launch of two new projects yesterday. With barely any publicity. Hong Leong Holding's The Atria at Meyer and First Capital
      515 words
    • Article
      Civic project during Philippine-S'pore war games helps Mt Pinatubo refugees
      277 2  -  From Al Labita in MANILA SOME 600 Mt Pinatubo volcano refugees have benefited from a civic action project launched by Filipino and Singaporean troops as part of their on-going 10-day "war exercise", a Philippine army spokesman said yesterday. Col Alfonso
      277 words
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      Page 2 Advertisements Column 1
      121 2 Dinner 7.00pm-10.30pm —(Monday-Saturday) T T e are cooking up a pasta and grains storm Sunday Jazz Brunch 11.30am-2.30pm at New Orleans Restaurant. Healthier choices of Paella, Polenta, Rissottos, Fettuccini, Brown Rice, Muesli are coaxed into exciting creations to tease your palate. Give Mom a break and come on down for
      121 words
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      Page 2 Advertisements Column 2
      117 2 WITH A BOOMING I2M ECONOMIC GROWTH. WHAT ELSE ARE YOU WAITING FOR? This is the best time to invest in China properties. Being the fastest growing economy in the world at 12.8% last year and 14.1%* in the first quarter of this year, China property prices are expected to escalate
      117 words
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  • THE REGION
    • Article, Illustration
      Lock icon Cambodian leaders agree on power-sharing arrangement
      517 3 The Cambodian power struggle Reuter PHNOM PENH The leaders of Cambodia's two main parties reached agreement yesterday on how to share power in an interim administration to run the country until a constitution can be written, a government spokesman said. "It was very good,
      Reuter  -  517 words
    • Article
      Interest rates squabble threatens Thai scheme
      622 3  -  From Alan Boyd in BANGKOK AN AMBITIOUS development programme intended to lure manufacturers to Thailand's poorer provinces is in jeopardy after being caught up in a row between the government and banks over interest rate levels. The Bangkok Bank. Thailand's largest financial institution, has
      622 words
    • Article
      Lock icon MCA vice-president tells why he's fighting for president's post
      387 3 Bernama JOHOR BARU Malaysian Chinese Association (MCA) vice-president Woon See Chin, who is taking on Ling Liong Sik for the president's post in the party's elections next Saturday, yesterday gave his reasons for the decision. Mr Woon said he wanted to
      Bernama  -  387 words
    • Article, Illustration
      Suharto appoints members of new advisory Council
      167 3 JAKARTA Indonesian President Suharto appointed yesterday the 45 members of the new Supreme Advisory Council (DPA), which includes 12 former ministers, and several former governors and leading religious leaders. The appointment of the council's membership, whose task is to reply to presidential queries
      167 words
    • Article
      Lock icon Japan's 0.8pc GNP growth last year lowest in 17 years
      589 3 Bloomberg Business News TOKYO Japan's gross na- < tional product, the broadest measure of economic activity, grew 0.8 per cent in the year I ended March 31, the lowest i annual growth in 17 years, the Economic Planning Agency said
      Bloomberg Business News  -  589 words
    • Article
      Lock icon I shall receive Sharif with open arms, says Pakistan president
      284 3 Reuter UPI ISLAMABAD Pakistani President Ghulam Ishaq Khan said in an interview published yesterday he could work with Prime Minister Mohammad Nawaz Sharif, whom he sacked in April but who was reinstated by the Supreme Court. Mr Ishaq Khan said,
      Reuter; UPI  -  284 words
    • Article
      Lock icon No foreign names for Jakarta's buildings
      191 3 Reuter JAKARTA No, you may not live in the Billabong development, the California Townhouse or even the Seaview Park Apartments. At least not if you are in the Indonesian capital of Jakarta. Developers have been told to change the names of their apartment blocks
      Reuter  -  191 words
    • ASIA NOTES
      • Article
        Lock icon Senior Chinese official visits Taiwan
        78 3 Reuter TAIPEI A Taiwan-born member of China's National People's Congress arrived in Taipei yesterday, becoming the most senior Chinese official to visit the island since the end of the civil war in 1949. Zhang Kehui. 65. was greeted by about 100 friends and relatives in
        Reuter  -  78 words
      • Article
        Lock icon Jakarta to build 12 star-rated hotels
        111 3 AFP JAKARTA The Indonesian capital will have an additional 12 star-rated hotels by 1995. the Jayakarta daily said here yesterday. "Jakarta is not as overcrowded as Bali or Yogyakarta, but the average hotel occupancy rate here is still above 70 per cent," the daily
        AFP  -  111 words
      • Article, Illustration
        Lock icon Royal toast
        33 3 Reuter TOKYO Newly weds Crown Princc Naruhito and Crowp Princcss Masako holding cups to toast with guests during a banquet celebrating their royal wedding at the Imperial Palace on Thursday. Rcutcr
        Reuter  -  33 words
      • Article
        Lock icon Work on Jakarta mass transit
        58 3 Reuter JAKARTA Indonesia will next year begin work on a mass transit system for Jakarta to ease the capital's polluted, trafficchoked streets, the official Antara news agency said yesterday, ft quoted Communications Minister Haryanto Danutirto as saying part of the 6.2 trillion rupiah (Ss4.B billion)
        Reuter  -  58 words
      • Article
        Lock icon Taiwan expects technology transfers
        55 3 AP TAIPEI Taiwan expects to get technology transfers from its purchase of 150 US-made F-16 jet fighters. Vice-Economics Minister Yang Chih-chien said yesterday. Mr Yang told legislators that his ministry and Lockheed have reached preliminary agreement to transfer such technology through an offset programme spread over
        AP  -  55 words
    • Article
      Lock icon IMF apologises for its official's criticism of Manila's economic performance
      431 3 AFP MANILA The International Monetary Fund (IMF) has apologised to Philippine officials for its local representative's open criticism of the country's economic performance. the presidential palace said yesterday. A palace statement said the head of the IMF South-east Asia and
      AFP  -  431 words
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      Page 3 Advertisements Column 1
      150 3 IITSI I KIND IN I SINGAPORE *1 I Ail I I Great Masters J7 j 11l IM I ZHANG DAO lAN jg OB II II I I 01BAISHI R? if* I W I CHENG SHIFA JR™ jft LUYANSHAO WU HU FAN. LMJHAISHU 111 ZHU QIZHAN I A" laW 1 WU
      150 words
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  • THE WORLD
    • Article
      Lock icon Aides urge Clinton to allow loans to Hanoi
      640 4 Move in anticipation of routine review of Vietnam's status by IMF next month Reuter WASHINGTON The National Security Council staff has recommended that President Bill Clinton end US opposition to multilateral lending to Vietnam, a US official said on Thursday night. The
      Reuter  -  640 words
    • Article, Illustration
      Lock icon Germans must work longer hours, says minister
      352 4 Reuter BONN Economics Minister Guenter Rexrodt said Germany's labour law must be overhauled in order to allow longer working hours and working on Sundays. In an interview yesterday with Germany's Deutschlandfunk radio, Mr Rexrodt said he also favoured requiring public sector employees to
      Reuter  -  352 words
    • Article
      Lock icon Balladur raps critics for sapping business confidence in France
      388 4 Reuter LYON, France French Prime Minister Edouard Balladur, under fire from within his own Gaullist party, yesterday dismissed calls for an alternative economic policy and warned critics they were sapping business confidence. Without naming him, Mr Balladur rejected point-by-point Gaullist National
      Reuter  -  388 words
    • Article
      Lock icon Telecom row: Bonn seen as keen to protect US inroads
      565 4 Reuter LONDON Germany's independent stance in the telecoms equipment trade row between the European Community and the US may reflect its desire to protect inroads already made in the US market, analysts say. "Siemens is a relatively large supplier in
      Reuter  -  565 words
    • WORLD WATCH
      • Article
        Lock icon W German industrial output prices dip
        84 4 AFP WIESBADEN, Germany Industrial output prices in the west of Germany fell by 0.2 per cent in May from the figure in April, taking the change during the previous 12 months to a decline of 0.3 per cent, the federal statistical office reported yesterday.
        AFP  -  84 words
      • Article, Illustration
        Lock icon Weeping for his comrades
        50 4 Reuter BOSNIA A Croat soldier crying on Thursday near a newly established graveyard where fellow comrades killed in a recent outbreak of fighting with Bosnian Muslims are buried. Some 100 Bosnian Croat soldiers have lost their lives in the fighting within the last two weeks. Reuter
        Reuter  -  50 words
      • Article
        Lock icon Azerbaijani president flees
        77 4 UPI MOSCOW The elected president of Azerbaijan fled the capital yesterday and the former communist party boss of the country took over. President Albulfaz Elchibey fled "to avoid bloodshed and to ensure his own personal safety", said press attache Fuad Gadzhiev in Azerbaijan's Moscow embassy. Azerbaijan's former
        UPI  -  77 words
      • Article
        Lock icon Canadian consumer prices down 0.2pc
        74 4 Reuter OTTAWA Canada's consumer price index fell 0.2 per cent in Mav, seasonally adjusted, and rose 0.2 per cent, unadjusted, to 130.1 (base 1986), Statistics Canada said. The rise compares with a seasonally adjusted rise of 0.2 per cent in April. Unadjusted the index was
        Reuter  -  74 words
      • Article
        Lock icon De Klerk to accept medal despite protest
        58 4 UPI JOHANNESBURG South African President Frederik de KJerk would travel to the US to accept the Philadelphia liberty medal next month despite opposition by a coalition of religious groups, the government said yesterday. "The President is travelling to the US," presidential spokesman Hannes
        UPI  -  58 words
      • Article
        Lock icon Reforms to continue: Iran president
        70 4 Reuter TEHRAN President Akbar Hashemi Rafsanjani, predicting a bright future for Iran, said yesterday that his relatively low winning margin in last week's election would not deter him from pushing for free market reforms. In his first prayer sermon since he was re-elected, he blamed
        Reuter  -  70 words
      • Article
        Lock icon Gonzalez holds coalition talks
        65 4 Reuter MADRID Spanish Prime Minister Felipe Gonzalez yesterday met the leader of the Basque Nationalist Party (PNV) to complete a first round of talks to seek allies in forming a new government. The Socialist leader proposed to PNV president Xabier Arzallus that the Basques join a
        Reuter  -  65 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      897 4 HOTEL PROPERTIES LIMITED (INCORPORATED IN THE REPUBLIC OF SINGAPORE) (1) TO: ALL BONDHOLDERS RE: PAYMENT OF PRINCIPAL AND INTEREST ON 5570,000,000 4% BONDS DUE 1993 ("BONDS") NOTICE IS HEREBY GIVEN that the Bonds will be redeemed at par on August 10, 1993. For the timely repayment of principal sums, Bondholders
      897 words
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  • COMPANIES & MARKETS
    • Article
      Keppel Bank surprises critics with 16 times subscription rate
      574 5  -  By Quak Hiang Whai SINGAPORE Keppel Bank silenced its critics yesterday when it announced a subscription rate of 16.1 times for its public offer of shares at 52.40 each and a six-times rate for the tender portion of the offer. Even
      574 words
    • Article
      IPC set to bag contract worth over US$10m from two US restaurant chains
      281 5  -  By Joseph Rajendran SINGAPORE Computer maker IPC Corp has begun shipping computers to two restaurant chains in America in expectation of a contract worth more than US$lO million (5516.2 million). The 12,000 units, expected to be shipped
      281 words
    • Article, Illustration
      Eu Yan Sang in Kuantan resort condo tie-up
      350 5  -  By Kooi Cho Teng SINGAPORE Eu Yan Sang Holdings (EYS), the property arm of Lum Chang Holdings, will develop a resort condominium project in Kuantan. Malaysia. EYS managing director David Lum said yesterday that a memorandum of understanding had been signed between
      350 words
    • Article
      Amcol taking a big gamble with Tanjong Rhu residential project
      545 5  -  HOCK LOCK SIEW By Lee Han Shih SINGAPORE Whichever way you look at it, Keppel's move to sell its Singmarine Industries site at Tanjong Rhu to Amcol is a no-lose situation for Keppel. The same, however, may not be true
      545 words
    • Article
      Lock icon Mahathir to launch two Ekran resort tie-ups in Hainan
      280 5 Bernama KUALA LUMPUR Prime Minister Mahathir Mohamad is scheduled to launch two joint-venture resort projects, involving Malaysian company Ekran Bhd. on Hainan Island on Tuesday, the last day of his 10-day official visit to China. In a statement issued here today.
      Bernama  -  280 words
    • Article
      Lock icon Pilecon plans to raise M$150m through issue of loan stocks
      286 5 Bernama KUALA LUMPUR Pilecon Engineering Bhd yesterday announced a proposal to raise MS 150 million (5594.5 million) through issuing redeemable bank-guaranteed bonds together with detachable transferable subscription rights. Each TSR carried the right to subscribe for one new ordinary Pilecon
      Bernama  -  286 words
    • Article
      B Sembawang posts 44pc rise in net profit
      161 5 SINGAPORE Propertybased Bukit Sembawang Estates has posted net earnings of $24.79 million for the year to March 31, 1993 up 44 per cent on the previous year's figure. The group achieved its strong performance on an 18 per cent rise in turnover
      161 words
    • Article, Illustration
      SUMMARY
      368 5 Performance of STII's Index stocks Jun 18 Last StiK ladrx Slock sale C'hfr factor no<rr> <$) <$> Atimo 2.280 1.75 CM 7 050 -0 050 5 40 -5 29 Ccrctws 5.350 0 050 4 10 5 29 F&N 12 000 0 200 9 19 21 16 OF Asia 2
      368 words
    • COMPANIES
      • COMPANY BRIEFS
        • Article
          Pacific Can sells stake in Uniphoenix
          80 6 SINGAPORE Pacific Can Investment Holdings has sold its 30 per cent stake in Uniphoenix Pacific Holdings Sdn Bhd for M 5450,000 (*****,500). Pacific Can yesterday said the transaction will have no material effect on the earnings per share or net tangible assets per share
          80 words
        • Article
          Lock icon JG Summit to offer 645m shares
          79 6 Reuter MANILA JG Summit Holdings, the flagship company of banker and retail magnate John Gokongwei, will oner 645 million common shares through the Manila and Makati stock exchanges. Documents filed with the Securities and Exchange Commission show the *B' shares, open to foreign and
          Reuter  -  79 words
        • Article
          Lock icon Thai developer sells 5m shares
          73 6 Reuter BANGKOK Housing developer Krisda Mahanakorn has sold five million of its 10-baht par shares or 4.76 per cent of its outstanding share equity to New World Development of Hongkong. New World paid 125 baht per share against yesterday's market closing price of 136 baht.
          Reuter  -  73 words
        • Article
          Indon cigarette producer on '93 income
          65 6 JAKARTA PT Hanjaya Mandala Sampoerna, one of Indonesia's leading cigarette producers, expects net income to increase to 67.79 billion rupiah (5551.52 million) in 1993 from 54.08 billion rupiah last year. The company also expects sales to reach 529.48 billion rupiah this year, compared with
          65 words
        • Article
          Lock icon Galant may be exported from US
          59 6 Reuter TOKYO Japan's Mitsubishi Motor Corp is considering exporting its US-made Galant to Europe from next spring, with an annual sales target of 10,000 units. The move will enable the company to avoid substantial price rises because of the yen's appreciation. At present, Galant
          Reuter  -  59 words
        • Article
          Lock icon Shell of Thailand raises stake
          88 6 Bloomberg Business News BANGKOK Shell of Thailand, a wholly-owned affiliate of Royal Dutch Shell, has lifted its stake in a local petrochemicals company from 10 per cent to 80 per cent. In a deal involving more than 80 shareholders including Thai Farmers Bank, Shell has
          Bloomberg Business News  -  88 words
      • Article
        UNIT TRUSTS & FUNDS
        450 6 UNIT TRUSTS FUNDS Managers' prices jun 19 21 Insurance Fund Singapore Unit Trust 332 345 The Commerce 1.36 1.43xd PriiOef!tl3l The Savings Fund 1.24 I JO PruLink Mgd Fund 1.13 1.19 S'porc Prog Fund 0.57 060 y>Ri n Spore See Fund 091 096 MHIW-BUmipUTra S'porc Invest Fund 100 l.05xd First
        450 words
      • Article
        Lock icon New contender may have entered fight for HK's Miramar
        414 6 Reuter HONGKONG A new contender may have entered the ring to challenge tycoon Li (Cashing and China's Citic Pacific for control of a major Hongkong hotel group. Trading in Henderson Investment was suspended yesterday after a surprise announcement that it had
        Reuter  -  414 words
      • Article
        Lock icon Kumagai Gumi expects net loss of 5.5b yen in current year
        279 6 Reuter TOKYO A worldwide slump in the property business and a sluggish construction industry at home will force major Japanese construction company Kumagai Gumi Co Ltd to post a group net loss in the current business year. Kumagai expects
        Reuter  -  279 words
      • Article
        Lock icon US publishing tycoon in Shanghai fund venture
        248 6 Bloomberg Business News FRAMINGHAM, Massachusetts Computer* or Id magazine's publisher and a Shanghai government-controlled venture have formed a separate US$2O million (5532.4 million) fund to bankroll promising electronics and software ventures in the southern Chinese city. Publishing tycoon Patrick J McGovern and Science
        Bloomberg Business News  -  248 words
      • Article, Illustration
        Lock icon In the arms of the law
        59 6 Reuter MILWAUKEE, Wisconsin A Milwaukee police officer examining a Pepsi can that contained an insulin hypodermic syringe on Wednesday that was opened by Kitty Wuerl, a telemarketer at the Milwaukee Journal Co. According to the label, the Pepsi was canned in Watertown, Wisconsin. It
        Reuter  -  59 words
      • Article
        Lock icon Guangzhou Shipyard hopes for 3rd-quarter listing in HK
        303 6 Reuter GUANGZHOU Guangzhou Shipyard International Co Ltd plans to list on the Hong Kong Stock Exchange in the third quarter of 1993. offering more than 25 per cent of its share capital, director Ren Fuwei said. He said the ship and container
        Reuter  -  303 words
      • Article, Illustration
        Lock icon Apple CEO Sculley plans to leave, but not immediately
        303 6 UPI CUPERTINO, California John Sculley, chief executive officer of Apple Computer Inc. plans to eventually leave the personal computer giant. L'SA Today reported on Wednesday. The 54-year-old executive has been talking privately about pursuing other opportunities and expects to leave Apple
        UPI  -  303 words
      • Article
        Lock icon Australia's Leighton to join New World in Sydney casino bid
        311 6 Bloomberg Business News SYDNEY Australian construction and engineering group Leighton Holdings Ltd said it will join a consortium headed by Hongkong-based New World Development Co to bid for Sydney's first casino. The casino project has been estimated in value at
        Bloomberg Business News  -  311 words
      • Article
        Lock icon Unit Trust of India sees turnaround for corporate sector
        207 6 Reuter BOMBAY India's largest mutual fund, the Unit Trust of India, predicts a turnaround for the country's corporate sector later this year, executive trustee K N Atmaramani said yesterday. "A majority of companies will post improved performances from the second half
        Reuter  -  207 words
    • FINANCE
      • Article
        Lock icon Australia deregulates further its banking industry
        467 7 Reuter MELBOURNE The Australian government yesterday announced further deregulation of the banking industry to make it more competitive and internationally oriented. Treasurer John Dawkins said he would allow mergers of smaller banks and foreign takeovers of all but the nation's major four. The government
        Reuter  -  467 words
      • Article
        Lock icon Decontrol of rates will not result in immediate gains
        365 7 Reuter TOKYO Japanese banks will be able to set interest rates freely on all term deposits from Monday, but it is likely to take a year or more before savers see the benefits of deregulation, bankers and analysts said. "Decontrol this
        Reuter  -  365 words
      • Article
        Lock icon Japan-UK venture plans slow entry into yen market
        366 7 Reuter TOKYO Foreign-exchange broker Hatori-Marshall in August will become the first new entrant in Japan's short-term money market in 30 years, and the first ever that is not purely Japanese. But the newcomer plans to enter the market slowly, market sources said.
        Reuter  -  366 words
      • Article, Illustration
        Greenback looks likely to regain glory
        455 7 DBS Weekly Currency Report US$/DMK: Regaining glory The greenback closed above resistance of 1.6420 last Tuesday, and carried on to make further gains to reach 1.6650 by Thursday. The technical picture is bullish with initial upside resistance seen at 1.6850. which is the March
        455 words
      • Article
        Oil prices edge up as jitters over Iraqi oil embargo subside
        215 7 ENERGY REPORT LONDON Oil prices edged a little firmer yesterday, as the fear of UN-embargoed Iraqi oil returning to the market subsided. International benchmark Brent Blend crude gained six cents on the London futures market to U5517.61 a barrel.
        215 words
      • Article, Illustration
        Banque Indosuez REGIONAL CURRENCY REPORT
        162 7 AMIDST persistent bullish sentiment, the US dollar made further gains yesterday against the regional currencies. It opened at 1.6160/65 against the Singapore dollar, trading within a narrow range of 1.6165/175 before local bank buying pushed it to the day's high at 1.6190. It closed mixed
        162 words
      • Article
        Lock icon London
        192 7 Reuter LONDON The dollar soared to its highest levels since March 1992 during a frantic day's trade as sentiment swung heavily in its favour. "It's been pandemonium," said the head of forex at one US bank. "Loads of stop losses and big trend lines taken out, everyone talking of
        Reuter  -  192 words
      • Article
        Lock icon New York
        79 7 AFP NEW YORK The dollar climbed against other major currencies in active trading yesterday, bouyed by the political instability in Japan and the anticipation of Tailing interest rates in Europe. In morning trading, the dollar traded at 108.60 yen against 107.30 and could climb as high at 109
        AFP  -  79 words
      • Article, Illustration
        Untitled
        1535 7 IraJf Ki-ithinJ imie\ cahulalni again* S'ptire\ Itip 14 trading partners Ha* \var 19X5 US$/S$ forward rates Noon June 18 ss Bid Offer 1-month 1.6169 ***** 2-month 1.6169 ***** 3-month ***** ***** 6-month 1.6168 1.6188 Sourer OCBC Source: OCBC FOREIGN CURRENCY NOTE RATES At at 10am yesterday: Singapore dollars lo one
        1,535 words
    • COMMODITIES & FUTURES
      • Article
        Lock icon Eurodollar softer in range-bound trade
        1461 8 SIMEX REPORT Reuter SINGAPORE Simex Eurodollar futures ended softer after tracking a tight two-tick band in the absence of fresh incentives, traders said. "The afternoon session was a wash-out. nothing much happened." said one US commission house dealer. "The Euros remain supported, but there is
        Reuter  -  1,461 words
      • Article
        KL tin rebounds to M$12.93
        608 8 COMMODITY REPORTS fin TIN PRICE on the Kuala Lumpur Tin Market rebounded to end three sen higher at MS 12.93 per kg yesterday, on short covering activity and some buving interest. The price which sank to its new all-time low of M 513.05 on Monday
        608 words
      • KNIGHT-RIDDER COMMODITY SUMMARY
        • Article
          Traders will still import copper
          82 8 TOKYO The fall in the price of copper and the concurrent depreciation of the Chinese currency have not led to major defaults by Chinese buyers who earlier agreed to import copper. Hongkong and Tokyo trade sources say. But there are rumours that some copper traders
          82 words
        • Article
          EC grain crop may drop by 3pc
          83 8 HAMBURG This year's EC grain crop might reach 163.572 million tonnes, down 3 per cent from last year, said German trade house Toepfer International in its first forecast. The projection is based on an estimated 32.838 million hectares sown to grains, which is
          83 words
        • Article
          M'sia clears tin shipment backlog
          71 8 KUALA LUMPUR Malaysia Smelting Corp's delivery period for tin to buyers is now less than a week, and the firm expects to be able to continue delivering promptly for the rest of the year, smelting sources said. The delivery period has narrowed from about 30
          71 words
        • Article
          Kuwait sets lower crude price
          48 8 TOKYO Kuwait has set its third-quarter crude price formula at US$l.4O per barrel below the average of Oman and Dubai crude prices, said sources at companies with term contracts to buy Kuwaiti crude. They said the formula is unchanged from the second quarter.
          48 words
        • Article
          Japan's steel demand to rise
          72 8 TOKYO Japan's demand for stainless steel is expected to total 158.900 tonnes a month for July, August and September, compared with 157,100 tonnes in the previous 3 months, according to the Ministry of International Trade and Industry's quarterly forecast. Export demand for stainless steel produced
          72 words
      • Article
        COMMODITY PRICES
        1629 8 Rubber June 18 RAS Commodity Exchange (futures closing as at 1pm) RAS (physical prices) RSS 1 Contract (S cents/kg) A m A Buyers Sellers Close Volume Open As at 12 noon O cenis/kgi Month High Low Sell (tonnes) Interest RSS 2 July 93 128 00 I29.00N Jul M
        1,629 words
    • REGIONAL STOCK MARKETS
      • Article
        Australia
        1150 9 +3.2 Shares closed higher in a day of quiet trading, boosted by an upbeat News Corp and recovering gold stocks. "The market was pretty dead people don't seem to be interested in doing much at all." one broker said. News Corp was the highlight. closing up 14 cents at
        1,150 words
      • Article
        Manila
        597 9 1.56 Share prices inched up. buoyed by government assurances that the country's severe power crisis will ease by December, brokers said. The Philippines' exchanges are also poised to snap out of a long period of consolidation by July at the latest, dealers added. "The market is slowly showing signs
        597 words
      • Article
        Taipei
        553 9 +20.41 Stocks ended slightly higher in a rebound from recent falls, helped by a strong electronics sector and a more stable performance of key indicator stock China Steel, brokers said. The Weighted Index fluctuated narrowly before ending 20.41 points up at 4,150.26. But turnover remained thin, shrinking to T512.2
        553 words
      • Article
        Seoul
        441 9 -0.45 The stock market closed a shade lower in mixed trading despite some solid advances by counters tipped to announce better-than-expected half-year results in June, brokers said. The Composite Stock Index ended 0.45 down at 762.09. The outlook is mixed for today with some forecasting a similar trading pattern
        441 words
      • Article
        New Zealand
        286 9 +0.74 The New Zealand share market ended a quiet week on a dull note with the NZSE-40 Capital Index closing up 0.74 points on the day at 1,646.20. The volume of NZ$25 million was boosted by the crossing of one million Lion Nathan shares at NZS3.4O. "Generally speaking,
        286 words
      • Article
        Bombay
        65 9 -7.7 Stock prices fell for a fifth straight day and brokers said stock markets will probably remain subdued because of fears of political instability. The Bombay Stock Exchange Index fell 7.70 points to 2226.68 and the National Index dropped 4.69 points to 1037.78. Delhi was marginally up 0.24 points
        65 words
    • WORLD STOCK MARKETS
      • Article
        London
        790 9 +3.7 Shares were slightly higher yesterday at the close on the last day of the two week account, after easing from the day's best levels as Wall Street sank into the red. The FTSE 100 Index finished 3.7 points up at 2,879.4, around eight points below the session high.
        790 words
      • Article
        Paris
        122 9 +0.53pc The Paris Bourse was boosted yesterday by a higher bond market, relying on hopes for a reduction of German interest rates in the near future. The CAC 40 index ended 0.53 per cent higher at 1,910.29 points, even though it was showing a loss during part of the
        122 words
      • Article
        Stockholm
        185 9 -0.85 Shares closed lower, notably in the banking sector, reflecting investors' disappointment the Central Bank didn't cut interest rates, traders said. "We saw banking and other financial shares fall, and that's directly related to the fact that there was no rate cut either." said Bjorn Germer, equity strategist at
        185 words
      • Article
        Frankfurt
        187 9 -5.39 Share prices closed lower at the end of a quiet bourse session. Operators had feared market could become volatile in last 10 minutes when expiring DAX option price was calculated, but prices just eased slightlv. The DAX-30 closed's.39 points down at 1.686.90, off intraday low of 1,686.62. September
        187 words
      • Article
        Zurich
        278 9 -1.13 Shares ended little changed with a easier bias after an afternoon of directionless trading yesterday. Morning business was dominated by transactions related to the expiry on futures and options exchange Sofiex. With the slight pressure from SofTex-expiry now in the past, shares moved little in lucklustre pre-week-end trading.
        278 words
      • Article
        New York
        630 9 10.24 Stocks moved lower at the start of what could be a volatile session yesterday. The Dow Jones Industrial Average, which added 10.24 points on Thursday, was down 11.07 points to 3510.82 at I lam. Among the broad gauges, the New York Stock Exchange Composite Index was oft
        630 words
      • Article
        Amsterdam
        252 9 +0.31 Shares shrugged off the expiry of options on the EOE index of the leading 24 Dutch shares, options on some individual stocks and EOE futures contracts, traders said. The EOE index closed up 0.31 point at 315.92. "The expiry was a nonevent," said trader Peter Puis at Institutional
        252 words
      • Article
        Johannesburg
        322 9 -7 Gold shares dipped in lastminute trade but held onto slender gains on a steady gold price yesterday while industrials drifted lower on a lack of fresh factors. Dealers reported some major share deals, such as 18 million rands worth of pulp and paper exporter Sappi shares changing hands
        322 words
      • Article
        Toronto
        331 9 11.29 Stocks fell in brisk early trade yesterday as profit-tak- ing and volatility connected with triple-witching in the US took the steam out of the market. Traders said volume was thrown higher by large crosses of Talisman Energy shares, sold by BCE to underwriters this week. The TSE 300
        331 words
      • Article
        Untitled
        724 9 Brussels J u 18 trman FORWARD MARKET M> Fa :s o 10 Vtv 2550 \ltwd »20 *> \Mor MO Bctam Bohjo JlO t 2 (jnpm. «l 4 (<x* II) I [>r Bern. 400 the% 77» Fleilrabd < > Brig IP) !2$i 1*5 C.MnikvBm IJ»» 2 t.cjcn *410 40 (>r Bra
        724 words
    • Article, Illustration
      Lock icon HONGKONG
      3018 10 Reuter Share prices ended higher after Britain and China agreed on a key project in Hong Kong's HKSI7S billion airport scheme, but late-day profit-taking pared the gains, brokers said. The Hang Seng index closed 11.65 points, or 0.16 per cent, higher at 7,200.75 after lagging by some 85 points
      Reuter; Source: Bridge Info  -  3,018 words
    • Article, Illustration
      CHINA
      520 10 THE Shenzhen A share market was very active yesterday the turnover was equivalent to the sum of the last three days and the CLSA Shenzhen A index closed up 6 per cent. The major factor is the news that the legal persons' shares will be suspended from trading, refocusing
      520 words
    • Article, Illustration
      Lock icon TOKYO
      2548 10 Reuter STOCKS ended lower. Investors were pushed to the sidelines as turmoil in the nation's politics dragged on longer than expected, brokers said. Arbitrage unwinding and selling by foreigners dragged down the market, while some small-lot buying picked up prices at the downside. "Nothing has changed since Thursday," said
      Reuter; Source: Bridge Info  -  2,548 words
    • Article, Illustration
      Lock icon BANGKOK
      1815 10 Reuter FOREIGN institutions joined local investors. Taiwanese and Hongkong Chinese in a buying spree, brokers said. "This is a really hot market." said a broker at Phatra Thanakit Co. "We checked and found out that there are some funds coming in from foreign institutions to buy good-fundamental shares." he
      Reuter; Source: Bridge Info  -  1,815 words
    • Article, Illustration
      Lock icon JAKARTA
      1103 10 Reuter STOCK PRICES closed mixed after an active half-day trading across the boards on the Jakarta stock exchange. "Market sentiment was strong. Panin Bank. Inco and Tjilatjap Pelletizing Factory- were actively traded." one broker said. Panin continued its stride, up 100 rupiah. Inco gained 50 rupiah and Tjilatjap was
      Reuter; Source: Bridge Info  -  1,103 words
    • Article, Illustration
      Lock icon CLOB INTERNATIONAL
      2620 11 Source: Bridge Info Source: Bridge Info MOST ACTIVE vofcjme Lien Hoc 8 923.000 Promct *.862.000 Rcnong Bhd 50c 7.865.000 Idris H > J 50c $.988,000 FAC'B 50c 5.323.000 Bcrja) a (iroup 3.S05.000 Tan Chong 50c 3.*****0 Mulpha Intl 50c 2.785.000 Multi-Purposc 2.681.000 kamunling 50c 2.635.000 Kcmavan 50c 2.606.000
      Source: Bridge Info  -  2,620 words
    • KUALA LUMPUR STOCK EXCHANGE
      • Article, Illustration
        Lock icon Stocks rebound on bargain hunting
        5201 11 SHARE PRICES rebounded to a firm close yesterday as investors moved in for bargains after sharp falls in the last three days, dealers said. "Buy calls were seen across the board." a dealer said, adding that even the long weekend did not deter market players
        Source: Bridge Info  -  5,201 words
    • STOCK EXCHANGE OF SINGAPORE
      • Article, Illustration
        Lock icon Index recovers on Keppel Bank's public offer
        1147 12  -  By AJ Leow RENEWED interest in Malaysian counters and the positive response to Keppel Bank s public offer pumped some adrenalin back into the local bourse yesterday. The Straits Times Industrials Index (ST1I) gained 13.21 points higher to finish at 1.826.20 while the
        Source: Bridge Info  -  1,147 words
      • Article, Illustration
        Liang Court Holdings
        73 12  -  Quak Hiang Whai LIANG COURT Holdings looks like it will trade between 90 cents and Si. The MACD chart is showing bullish signals. The stock is also slightly over-sold at current level, with its daily RSI nd stochastics hovering around 25. Those who are cautious may want
        73 words
      • Article
        Untitled
        6496 12 MAIN BOARD Gr Gr 1992/93 Last Vol Day Last Quote Di» Di» Yld Net M Cap High In Company Sale ("000) High ixm Buyer Viler CV P/E Sn.il INDUSTRIAL AND COMMERCIAL 770 170 Acma 730 xd -5 35 740 725 725 730 12.5 2.1 1.7 31.6 503.2 220 210 s
        6,496 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      105 5 MARITIME m CHALLENGESm A Special Business Times Supplement June 29, 1993 The maritime industry is a key element of the Singapore and regional economies. But maritime companies face stormy seas. Shipping lines are plagued by depressed rates and over-capacity in some markets. At the same time, oil spills have focused
      105 words
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      153 6 Dividends table has been held over BUSINESS TIMES TOLL-FREE TEL. No. 1-800-737 0043 FAX:734 3698 International Stockbroking We are a dynamic and growing regional stockbroking and financial services group, active in Asian equity markets. Our clients are major international fund managers and financial institutions. INSTITUTIONAL i SALES I We intend
      153 words
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      Page 6 Advertisements Column 2
      35 6 AMftUE PMW English Regency Mahogany ■r^V^Mp Bracket IjT Clock E> vfl ClB2O A Fine Selection Of Antique Clocks At #02-02 Tanglin Shopping Centre Tel/Fax 735-0983 Open Mon Sat (10.30 am to 6pm) Sundays by appointment
      35 words
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  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      406 8 BUSINESS TIMES TOLL-FREE TEL. No. 1-800-737 0043 FAX:734 3698 GP BATTERIES INTERNATIONAL LIMITED (Incorporated in the Republic of Singapore) LOST CERTIFICATE Notice is hereby given that certificate numbered *****8 covering 266.666 shares in the name of Ng Sung On Andrew has been reported lost Notice is also hereby given that
      406 words
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      Page 8 Advertisements Column 2
      34 8 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead 737-1166 Business heats up when you make the call and place an ad. 737-1166
      34 words
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  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      131 10 T Cartier's Favorite Fathers 'I i For men who have almost everything, Cartier is introducing two additions to the Pasha range with the new gold-plated razor and dif shaving brush for this year's Father's Day. As real collector's rf* items, both pieces are limited editions and carry individual (pßz Subsequently
      131 words
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  • Page 12 Advertisements
    • Advertisement
      Page 12 Advertisements Column 1
      115 12 Cartier f s Favorite Fathers For men who have almost everything, Cartier is introducing two additions to the Pasha range with the new gold-plated razor and shaving brush for this year's Father's Day. As real collector's items, both pieces are limited editions and carry individual markings. Subsequently there are other
      115 words
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  • SPORTS
    • Article, Illustration
      Lock icon S'pore collects 9 golds, 5 in yachting
      783 13 SEA Games round-up AFP, AP, Bernama SINGAPORE Singapore had a nine-gold day yesterday as Indonesia appeared set to repeat as the top overall medal winner with only one full day of competition left in the 17th biennial South-east Asia Games. Indonesia had won
      AFP,; AP,; Bernama  -  783 words
    • Article
      Lock icon Sindelar, Hoch, Parry lead in perfect conditions
      869 13 US Open NYT, AFP, Reuter SPRINGFIELD, New Jersey With its only defence the inherent difficulty of its design, Baltusrol bent to the breaking point on Thursday as Joey Sindelar, Scott Hoch and Craig Parry all shot four-under-par 66s to share the first-round lead
      NYT,; AFP,; Reuter  -  869 words
    • SPORT SHORTS
      • Article, Illustration
        SEA GAMES
        597 13 SINGAPORE Results on the sixth day of the 17th South-east Asia (SEA) Games yesterday (all finals): TRADITIONAL BOAT RACE 400 m 10-a-side: I. Ind 2min 01.245 ec 2. Myan 2:01.64 3. Mai 2:04.86. 400 m 20-a-side: I. Ind 1:39.18 2. Myan 1:39.89 3. Phi 1:43.20. 800 m 10-a-side:
        597 words
      • Article, Illustration
        Lock icon Baseball
        50 13 AFP WASHINGTON American league Thursday: Detroit 9 Cleveland 5; Oakland 5 Chicago 2; Toronto 7 Boston 0; NY 6 Minnesota 5: Texas 18 California 2. National: SF 5 Cincinnati I; St. Louis 11 Chicago 10. Florida 4 Philadelphia I; Pittsburgh 6 NY 2; Houston 4 San Diego I. AFP
        AFP  -  50 words
      • Article, Illustration
        Lock icon Cricket
        136 13 AP, Reuter LONDON Australia was 592-4 at the close of the second day of the second cricket test against England at Lord's yesterday. David Boon completed a century but Mark Waugh was out for 99 as Australia went just one run short of a unique achievement in Test cricket.
        AP,; Reuter  -  136 words
      • Article, Illustration
        Lock icon Golf
        266 13 AFP Reuter SPRINGFIELD, New Jersey US Open leading first-round scores Thursday (pur 70, US unless stated, x-amatew): 66 Scott Hoch. Joey Sindelar, Craig Parry (Aus) 67 Lee Janzen. Caig Stadler 68 Mike Smith. Corey Pavin, Fred Couples. Robert Wrenn, Blaine McCallister. Rocco Mediate. Ray Floyd 69 Michael Weeks, Wayne
        AFP; Reuter  -  266 words
    • Article
      AIRCRAFT ARRIVALS AND DEPARTURES
      1671 13 ag nm eta fh* n»_ eg ET* nm n*L Hm WmM GA929 1120 N* CM MM City VN743 1315 VN742 1415 MaiaMa SQ228 2120 GA839 1 rrrrr CX716 1235 CX710 0640 m n 121®! 0(665 1420 SQ660 0915 Amtar4a« KL837 1445 KL838 2310 CX713 1500 CX714
      1,671 words
    • Article, Illustration
      Lock icon Barkley dismisses fraternising charge
      847 14 Basketball NBA Finals NYT CHICAGO Charles Barkley says he isn't interested in what Magic Johnson has to say. "Sometimes," Barkley said, "Magic talks just to hear himself talk." One of the things Johnson said on Wednesday night as analyst on NBC's telecast of Game 4 of
      NYT  -  847 words
  • Page 13 Advertisements
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      Page 13 Advertisements Column 1
      197 13 _b_u_sj_n ess times TOLL-FREE TEL. No. 1-800-737 0043 FAX:734 3698 UNITED OVERSEAS BANK LIMITED (Incorporated in the Republic of Singapore) LOST CERTIFICATES Notice is hereby given that the following certificates have been reported lost:B—am. Ho Ho. mSfcirw n M lit *****08-7 1 Xl,OOO Saranieet Singh Sidhu *****09-0 IXI,OOO *****10-0 1
      197 words
    • Advertisement
      Page 13 Advertisements Column 2
      48 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
    • Article
      AT CONVENTIONAL WHARVES
      556 14 Vessel Voy Wo Berth fcmal Departwe Vessel Voy Wo Berth huntI Departure Jurong Port Manna wtur«« posb aiongy* 1806 1900 Bksstui Reefer J5/6 alongside 19 06/1200 Marine P 18/06* P01A alongside 1806/1800 Hye Prosperity 90/93 13 alongside 1906/1200 Nogogin. 10/93 PM alongside 18.06/1500 t«ory Bay 10 J5
      556 words
    • Article
      CONTAINER SCHEDULES
      1700 14 DELIVERY OF FCL IMPORT CONTAINERS IN PROGRESS Ship Voy No Contaiwn avaiabie Shp Voy No C ontainm ivalablc Smtri 917 00.00 93 0000 N Zircon 26E COOt EST) 8.06.93 500 Tiger Creeh 321N 17 06 93 0800 Sim Marine SMR01E C00! EST) S0693 100 E Vital 5105E 1706.93
      1,700 words
  • Page 14 Miscellaneous
    • Miscellaneous
      Page 14 Miscellaneous Column 1
      456 14 I CRYPTIC CROSSWORD I It lets you know there's a L^J— —L^J— rough time ahead (5.6) 9 Surprised expression about |^|"""""H 10 Power from a heavenly body 1 Trousers 16 End so cruel revolution (7) ~TiHfZHZ-— 17 Inquisitive one's confused by 18 Agent crosses eastern river ——jjH marshy ground (4)
      456 words
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  • REGIONAL FOCUS
    • Article, Illustration
      Japan set to be world's largest aid donor for next five years
      887 15  -  Japan's new aid plan is met with anticipation and apprehension by its Asian neighbours. Anthony Rowley reports from Tokyo Anthony Rowley JAPAN was again the world's largest provider of official development assistance (ODA) last year and a new
      887 words
    • Article
      Lock icon Nagoya yens for brighter image
      730 15 Reuter NAGOYA It boasts one per cent of world GNP bigger than Belgium's and sees itself as the engine room of the Japanese industrial miracle. Yet this rather grey, nondescript city and surrounding Aichi prefecture on the Pacific coast of central Japan have a serious
      Reuter  -  730 words
  • Page 15 Advertisements
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      Page 15 Advertisements Column 1
      1540 15 MBS? JUST CALL; 737-1166 Business heats up when you make the call and place an ad. C-A-T.S. 737-***** Deutsche Bank AG I2LJ (Incorporated in the Federal Republic of Germ any) Consolidated Balance Sheet as of December 31,1992 Assets In Ml 1000 12K2 31.12.ia9i Liabilities In DM 1.000 1882 31.12.1981 Cash
      1,540 words
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      Page 15 Advertisements Column 2
      13 15 A [-SAIOTY r< >k> 30 <3C? 300 C3t2 3000, m DO I' I'
      13 words
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  • Article
    Lock icon Gatt seeks to open govt contracts to international bidding
    431 16 Reuter, AFP GENEVA Major trading nations will push to reach an accord by year-end which would open up government procurement contracts worth US$l trillion (SSI.6 trillion) to international competitive bidding, a General Agreement on Tariffs and Trade (Gatt) spokesman said yesterday.
    Reuter,; AFP  -  431 words
  • Article
    Lock icon Danish PM urges EC to focus on practical goals, not visions
    442 16 Reuter COPENHAGEN The European Community should focus on practical goals like cutting unemployment rather than new visions of union, Danish Prime Minister Poul Nyrup Rasmussen said yesterday before a two-day EC summit. "It is extremely important that the message
    Reuter  -  442 words
  • Article
    Lock icon France wants quick merger of Renault and Volvo
    337 16 Reuter PARIS The new conservative French government said yesterday it favoured a quick merger of France's state-owned car maker Renault and Sweden's AB Volvo to formalise a marriage between the groups which have cross-sharehold-ings. Industry analysts said the merger was essential before
    Reuter  -  337 words
  • Article
    Lock icon Indon banks to cut interest
    97 16 AP JAKARTA State banks have agreed to reduce interest on deposits by one percentage point starting next month, a banker said yesterday. Towil Harjanto. the chief executive of State Saving Bank, said all six state-owned banks had agreed to reduce current interest rates on time
    AP  -  97 words
  • Article
    Lock icon Patten wants progress on issue of HK polls
    286 16 AFP HONGKONG Governor Chris Patten yesterday said the Hongkong government "can't hang about" over deciding arrangements for local elections in 1994-5 the subject of a major dispute between Britain and the colony's future sovereign power, China. Mr Patten whose blueprint for political
    AFP  -  286 words
  • Article, Illustration
    Lock icon Nadir threatens to unveil UK govt plot
    607 16 But minister dismisses claims of former Polly Peck head Reuter, AFP LONDON Fugitive businessman Asil Nadir warned yesterday that he has tapes of government ministers and officials which "prove" that there was a conspiracy to bring down his former company Polly Peck International,
    Reuter,; AFP  -  607 words
  • Article, Illustration
    Lock icon Clinton takes credit for economic, foreign gains
    327 16 Reuter WASHINGTON US President Bill Clinton came out fighting at a news conference on Thursday, seeking to improve his battered image by taking credit for action on the economy and a US-led military operation in Somalia. "America is on the move. These past
    Reuter  -  327 words
  • Article
    Indian PM mounts campaign to deny broker's bribe charge
    405 16  -  From Rajendra Bajpai, Arvin Kala in NEW DELHI INDIA'S beleaguered Prime Minister P V Narasimha Rao yesterday mounted a campaign to save his job and government in the manner other prime ministers have tried and failed in the past. Leaders of
    405 words
  • Page 16 Advertisements
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      Page 16 Advertisements Column 1
      407 16 aJYimiTt Monday in Business Times USINESS TIMES TOLL-FREE TEL. No. 1-800-737 0043 FAX:734 3698 SUN CORPORATION LIMITED (Incorporated in the Republic of Singapore) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Company wHI be held at its Registered Office, 252 Tembeling Road
      407 words
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      Page 16 Advertisements Column 2
      4 16 Monday in Business Times
      4 words
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  • Executive Lifestyle
    • Article, Illustration
      Three cheers for Dad
      1765 17  -  Never mind the commercial hype. Father's Day is still a good time to pay tribute to that special man in the family. Jaime Ee listens to some fond memories and frank views of fathers, as told by their very appreciative offspring Jaime Ee WHO invented Father's
      1,765 words
    • STRAWS IN THE WIND
      • Article
        Tight-fisted tourists
        57 17 THE JAPANESE and other free-spending tourists are staying home, but visitors from mainland China are increasing. No sighs of relief from the hotel industry, though. As one hotel manager lamented: "China 10 people come out, all 10 go stay in their relatives' house, collect angpows. Sure they are
        57 words
      • Article
        Heart-to-heart
        44 17 A COLLEAGUE was struck by a large white van, covered with red hearts, on the road. Thinking it was somebody's idea of a very belated Valentine message, she drove up to see what it was the mobile transfusion service of the Blood Bank.
        44 words
      • Article
        Less talk please
        113 17 SOME radio deejays can be smart alecky to the point of being pure morons. Our sympathy goes out to the poor guy who called the FM 98.7 station and asked a deejay named Mr X to play a song for a certain girl, saying. "I hope she
        113 words
    • OPINIONS
      • Article, Illustration
        Human chauvinism is alive and well
        1341 18  -  Nirmal Ghosh says it's a pity that there are still people in positions of influence who know the cost of everything but the value of nothing Nirmal Ghosh The writer is a BT journalist HUMAN chauvinism, even in the enlightened '90s, apparently still exists.
        1,341 words
      • Article
        Japan also has its kiasus
        159 18  -  Kiyoko Takaoka HAVING enjoyed Margaret Thomas' article (BT, May 15-16), "When will Singaporeans stop being so terribly kiasuT\ 1 would like to offer Japan's own version of a kiasu person the Obatarian. The Obatarian is usually middleaged and a woman. She is well-known for elbowing
        159 words
      • Article
        When the doors to paradise are wide open
        611 18  -  Anthony Yuen discusses the dilemma the US faces over illegal Chinese immigrants Anthony Yuen The writer is a California-based Chinese-American writer who contributed this commentary to BT THE STORY of the freighter Golden Venture, which was laden with hundreds of Chinese illegal
        611 words
      • Article
        Projecting a false image of Germany and its problems
        410 18  -  Lutz E Kraushaar ARTICLES in Business Times like the one headlined "When will Germany make peace with itself?" (BT, June IS) do not match the paper's image. The daily news diet of BT readers should consist of objective information rather than
        410 words
    • PROFILE
      • Article, Illustration
        Lock icon Virgin's affable angel
        4033 19  -  Richard Branson is rich, successful and awfully nice. So nice, in fact, that it is hard to find a word said against him. Is he too good to be true? Andrew Davidson meets the man whose popularity crosses class barriers Andrew Davidson The Sunday Times Magazine AT
        The Sunday Times Magazine  -  4,033 words
    • PERSONAL FINANCE & INVESTMENT
      • BULLS EYE
        • Article, Illustration
          BT SENTIMENT INDEX (Jun 21-25)
          60 20 Those polled on their view of the Singapore stock market for the week ahead: Baring Securities. Daiwa Securities Singapore. DBS Asset Management. Kay Hian James Capel. Kim Eng Securities. Morgan Grenfell Asia Sa urities, OCBC Investment Research. Ong Co. Peregrine Securities, Phillip Securities. lat Lee
          60 words
        • Article
          Buy!
          190 20 G K (ioh DBS I.and. Buy at $2.59. Having built a respectable portfolio of investment properties, management has proceeded to diversify earnings by expanding development profits. Four residential properties, with construction starting by early 1994 at the latest, are expected to contribute $271 million to group pre-tax by h\
          190 words
        • Article
          For a punt
          252 20 Phillip Securities Lum Chang Holdings. Buy in to take advantage of the next move to $1.50. Even at $1.50, Lum Chang is not expensive in view of a turnaround in FY93 when earnings per share is expected to jump by 272 per cent to 8.2 cents. (June
          252 words
        • Article, Illustration
          Eye on the region: Indonesia
          202 20 FT G'A Goh Ometraco The Jakarta stock market has performed credibly since May, with the Jakarta Composite Index rising 13 per cent. The market has seen fresh overseas funds invested on the back of an increasingly positive economic and corporate earnings outlook. Cyclical stocks, textiles
          202 words
        • Article, Illustration
          In my opinion...
          167 20  -  Kiyotaka Hoshino managing director Daiwa International Capital Management (Singapore) Mr Hoshino heads the international fund management unit of Japanese brokerage l)aiwa Securities. The unit specialises in Japanese stocks. HE JAPANESE I market is going A through uncertain environment. Two major factors will affect the market. First, the
          167 words
      • Article
        Change trustee stock criteria to protect investors
        1089 20  -  Andy lan argues for new trustee stock criteria to protect the man-in-the-street investors in their purchase of new shares while RSivanithy looks at the criteria set out in the Trustees (Amendment) Act Andy Tan, R Sivanithy Mr Tan is an economist with MMS
        1,089 words
      • Article
        A feather in the company's cap
        536 20 WHAT DOES it mean for a stock to be included in the CPF trustees list? By most experts' reckoning, it adds to the company's reputation and credibility in the market. According to one market professional, "it's an endorsement of good performance. something like being
        536 words
      • Article, Illustration
        Tri-M's IPO: it's good and it's cheap
        882 20  -  CTOfk- WATPH By Joseph Rajendran IF THERE is one good reason why an investor should consider Tri-M Technologies' initial public offer on the main board, it must be affordability. The contract electronics manufacturer is offering 7.5 million 80-cent shares at USS2.6O each based
        882 words
      • Article, Illustration
        Saving for higher education
        1100 21  -  Soh Tiang Keng reports on the growing popularity of a child education policy Soh Tiang Keng MANY parents today consider an education insurance policy an essential part of planning for their children's future. Life insurance companies have detected a marked rise in the number of child
        1,100 words
      • Article, Illustration
        Lock icon Glamour stock
        764 21  -  You don't have to be a star to be on this show. Agnes Chen looks at an Aussie public offer for a movie Agnes Chen ARNIE Schwarzenegger and Sly Stallone have hardly become rich on the strength of their acting abilities alone their bank accounts are bulging, thanks
        Source: Prospectus  -  764 words
      • Article, Illustration
        The impossible made possible
        636 21  -  Christopher Tan examines Audi's "impossible deal' Christopher Tan THE DEAL is almost too good to be true. Buy a new car and drive it for free for a year. Has Motor Ultima. Audi's distributor, blown a gasket? Is there in fact no catch to the deal?
        636 words
      • Article
        How soon can IPO shares be sold?
        589 21 mVESTI^G^OjJR Q: If I use CPF money to apply fur a new share issue, how soon can I sell the shares allotted to me? A: The Stock Exchange of Singapore now allows investors to trade in IPO (initial public offering) shares on a
        589 words
    • Article, Illustration
      Treacly tale of true love
      564 22  -  Cinema Rcymw By SUSAN TSANG MARISA TOMEI was the dark horse who won this year's Best Supporting Actress Oscar. In Untamed Heart, this serious thespian spent hours perfecting her character's Minnesota accent. Pity she didn't spend that much time looking at the quality of the
      564 words
    • Article, Illustration
      It's show time again
      505 22  -  Jaime Ee checks out the Lido Cineplex Jaime Ee WHEN Yishun 10 first opened more than a year ago, cinema-going in Singapore reached a new high. Yishun 10's greatest attraction was its flashy neon lights, and the pbpcorn stands with dispensers that squirted real imitation butter
      505 words
    • Article, Illustration
      Lock icon Do let it rain on our parade
      1146 22  -  Stephen Vines finds out how the villagers in the north-east of Thailand guarantee rain for their crops with the aid of a rocket festival Stephen Vines PHRAYATAEN, the God of Rain, moves in mysterious ways. Never more so than when having to deal
      Photos by Daniel Tse  -  1,146 words
    • Article, Illustration
      Ambling through largely familiar territory
      980 22  -  Art Review By SUSAN TSANG ANG AH TEE, one of our better-known landscape artists, is not a painter given to changing his style. Over the years, he has developed and remained comfortable with a preference for warm colours, which he uses to depict popular subjects
      980 words
    • Article, Illustration
      Burchill unleashed
      595 23  -  Book Review By CHUANG PECK MING Sex and Sensibility By Julie Burchill Grafton 269 pages, $19.15 TO MANY, Julie Burchill is a hypercritical *****. But she does see and write about things in a refreshing and interesting way. Indeed, so dazzling is she in wielding the pen that
      595 words
    • HEALTH & FITNESS
      • HEALTH Notes
        • Article
          Lock icon Keep cool, eat more fish
          108 24 Health and Fitness A FISH a day keeps tempers at bay. And it may even protect your heart, according to researchers at the University of Edinburgh. To have the greatest effect, you should eat dark-fleshed, oil-rich fish such as herring, mackerel, salmon, sardines or sprats.
          Health and Fitness  -  108 words
        • Article
          Lock icon You can't lose weight with laxatives
          117 24 Health And Fitness WOMEN who use laxatives to lose weight are not only putting their health at risk, but may also be suffering in vain. A common practice among people with eating disorders, laxative abuse can lead to kidney failure, heart attacks and even
          Health And Fitness  -  117 words
        • Article
          Lock icon You don't gain weight by not smoking
          146 24 Health And Fitness YOU DONT necessarily gain weight when you give up smoking, and if you do, it can be minimised by exercise. Researchers at Edinburgh found that weight gain in women who had given up smoking was a result of their eating
          Health And Fitness  -  146 words
        • Article
          Lock icon Widows at risk of poor nutrition
          137 24 NYT LOSING A husband can affect a woman's motivation to cook and eat. putting her at risk of poor nutrition, say researchers at Georgia State University. A study of 50 recently widowed women and 50 married women, all older than 60, found that 72
          NYT  -  137 words
      • Article, Illustration
        Lock icon High fliers' guide to healthy landing
        887 24  -  Jane Brody gives tips on how to avoid air sickness Jane Brody NYT Air travel. while a boon to long-distance vacationers and business travellers, has also become an increasing source of pain, discomfort and even illness among passengers and crew members in recent years.
        NYT  -  887 words
    • PEOPLE
      • Article, Illustration
        Celebrating art for art's sake
        254 24 WATCH designer Philippe Charriol proved he was an art eonnoisseur in the truest sense. Last month, the local art foundation which bears his name held an auction to promote the works of budding Singapore artists. Fifty specially selected pieces were put up for sale at
        254 words
      • Article, Illustration
        Lock icon A fete for financiers
        147 24 Photos by Arthur Lee ABOUT 30 bankers and investment professionals were invited to a loan signing eeremony between Westpac Singapore Ltd and Thailand's National Finance and Securities Co on June 4. The eeremony was held at the Pan Pacific ballroom, and guests were treated to lunch
        Photos by Arthur Lee  -  147 words
    • TIME OFF
      • Article, Illustration
        Lock icon Joy juice from the jungle
        599 25  -  Henry Han skips breakfast with Ah Meng but dives into Orang Utan for a swig of beer. Our veritable pub-crawler then clocks in some time at Big Ben Henry Han Built circa the white-washed pre-war warehouse at Jiak Kim Street is not only originally maintained
        Photos by Arthur Lee  -  599 words
      • Article, Illustration
        Lock icon Big Ben at our very own Boat Quay
        492 25 Ongoing roadworks or not. there is no stopping the onslaught of new pubs and eating outlets sprouting up along the river at Boat Quay. Never mind the rubble lining the streets, the place is open for business and it's gotten such that
        Photo by Arthur Lee  -  492 words
      • Article
        PERFORMANCES
        313 25 Bolshoi Ballet The world's best classical ballet company. featuring prima ballerina Natalia Beesmcrtova, will perform Les Sylphides and Giselle. June 23 and 24. Bpm at Harbour Pavilion. World Trade Centre. Tickets at $40. $60. $80. $100 and $120 available from all Sistic outlets. Evening of Contemporary Ballets Celebrating their
        313 words
      • Article
        CONCERTS
        129 25 Pony Express A free gig organised by record label Pony Canyon with Singaporean recording artistes Art Fazil. DNA, Stomping Ground and Zul (of Tania). Tomorrow. 4pm at the Isetan Scotts Amphitheatre. Shaw House. Acoustic Vibrations 111 A strictly acoustic gig to be held at the only restaurant in Singapore
        129 words
      • Article
        FILMS
        86 25 The Blue Planet Produced in cooperation with Nasa. this film takes you on a trip to space where the harth seems suspended in a limitless void. The snag is that man is slowly destroy ing his home planet. I lam. 12pm. 2pm. 4pm. spm and 6pm at the Singapore
        86 words
      • Article, Illustration
        EXHIBITIONS AND TALKS
        487 25 Blue and White Porcelain Tianminlou Collection The world s most comprehensive collection of Chinese blue and white porcelain art from the Tianminlou Foundation. From June IS ai the Empress Place Museum Hall 6. 9am to 7.30pm daily. Managing Stress Before It Manages You Seminar by La Rowe
        487 words
      • Article
        AT THE SUBSTATION
        120 25  -  Compiled by Christopher Toh Procession Based on Badal Sircar's play, this satire deals with the inevitability of social exploitation by unscrupulous politicians. Today. Spm at the Guinness theatre. Tickets at 56. Neighbours This play revolves around people who live next to each other and how they build
        120 words
    • EPICURE
      • Article, Illustration
        In the lap of luxury
        542 26  -  Jaime Ee checks out two places in Singapore where you can enjoy a formal, three-hour meal and be spoilt rotten by the waiters Jaime Ee SOMETHING about the Goodwood Park Hotel's Gordon Grill evokes a sense of being in another time, another place. Maybe it's
        542 words
      • Article, Illustration
        Restful Raphael
        473 26 THE IMPERIAL Hotel is perhaps best known for its Indian musicians that do the latest sitar melodies at the Rang Mahal Indian restaurant. So when the name Raphael is mentioned, it's likely that you'll be met with a quizzical look. It's a pity, considering that as a decent,
        473 words
      • Article
        Italian dining with a difference
        538 26  -  Corinne Kerk eats in, thanks to caterers Porta-Porta Corinne Kerk TIRED of the usual fare offered by caterers? Well. Italian food caterer Antonino Laino (or Nino for short) is determined to make a difference. Together with wife Rozianah, the couple has just opened a $70,000
        538 words
      • Article
        The quintessence of claret
        730 26  -  Wme By N K YONG LAFITE is like a household word where wine is concerned, known even to those who know nothing else about wine. The popular perception is that it stands for the finest and the most expensive in French wine. Beside Lafite, the other
        730 words
    • Article, Illustration
      CINEMA
      1118 28 Aladdin. A typical Disney adaptation of the old fairy tale, complete with rousing musical numbers. An upwardly mobile street teen becomes a prince, thanks to a genie with the voice and wit of Robin Williams. The most psychedelic cartoon since Fantasia, but the liberal use of primary colours can
      1,118 words
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      259 17 I EXPRESS I I I The way <rf turning shares into I Ml yW. I MOMUOMPWAHOiLame tMMMMinMMCiLWnD I I *****33 *****33 I When you move in the right circles, the world's finest bodyguard protects you. You'd be herd pressed to Audi Cere. With three years free nocoaTM ammo «wu> umttn
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      118 18 ■yk, L i B v m ißHt^^ir k f) I bJH^H a. mm I j— Multi-bag travelling is easy with Samsonite's Easy Carriers. Samsonite's Easy Carriers are the first hardside suitcases k£j to offer travellers a built-in luggage cart. The unique pull-up handle and retractable strap instantly allows you to
      118 words
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      33 18 BT welcomes letters from > (hi. Please address them to: The Editor. Business l imes. 390 Kim Sent Rd, S'pore 0923. Letters should include your contact numbers. Call today for results tomorrow. CATS. *****66
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      8 18 Appointment Ads Help You Find The Right Candidate
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  • Page 18 Miscellaneous
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      Page 18 Miscellaneous Column 1
      94 18 (VOU IUG UUOL6. DPTf BfTiWG nfc.e>R«ST6u)— NOU'RC MOT r fp -nx.»T\ V SO UP L\P J OP NOUR ppsiTipy Hegc, ypu J y Jc (C 3 sf' O) (CT\ IflQHy DO v o) j 71 1 IWI I —l f~ POONESBURY GARRY TRUDEAU SK.THtS tS IMPORTANT. U& If MB COULD
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      23 21 NEEDA service? HNDITINTHESIMSTMSaMD Let your fingers walk to the service professionals listed in our service directory of The Straits Times CATS Classified. 737-*****
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      64 24 I WkW Chronograph with automatic movement. .ind gold-plated case and bracelet, Stetl and gold-plated case and bracelet, DAVM O N D WFI I u ith shielded crown. Ww T w shielded crown. E» IL. Scratch-resistant sapphire crystal. v v Scratch-resistant sapphire crystal. GENEVE Water-resistant to 5C metres. > A ■m
      64 words
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      344 26 VICES I VKTUES of a delinquent salesman. of a diligent salesman. 1. Hangs out at his stock broker, 1. Works hard and smart the whole chasing Promet before it plummets. week, especially Thursday to 2. Visits Annie on Mondays, Lucy on Sunday, fair weather or foul. Fridays "handy" gals at
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      594 27 Nothing Beats A Bud, PEKING OF Alan Ng, ftxxl writer of Lianhc Zaobao.'ll's a high lea of distinct difference from those we had tried locally." Why go Penang? Princess Terrace Cafe introduces Penang High Tea with favourites like Penang Laksa, Fried Kway Teow, Bubur Hitam, Hokkien Mee and more. Adult
      594 words
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      Page 27 Advertisements Column 2
      306 27 WHERE TO WINE, DINE AND ENTERTAIN Our weekend tea is so satisfying, people sometimes break into song. m? Choose from an astonishing variety of savoury and sweet favourites. And if that's not enough, our tea special also includes karaoke at Singsation. Singapore's only theme karaoke lounge. So pop over to
      306 words
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      Page 27 Advertisements Column 3
      263 27 wMh n|i|i>M»Mi io TKer« or* «qt>olly <Mkiow« ohm to cKoom from. 20 iwnl toMptoHoni. —Tok« your pick. a mw country ovory month. Stabi»» Grillroom Lunch: Noon 2.30 pm Only $JO++ por p*r%on. for rmtmrvartont, ploaam H|HB *****51 f tv^l, T*.7VNII [Saturday Spectacularl The Saturday Buffet Lunch at Coleman's Coffee House
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      2404 28 TODAY'S TV HMmriTTSiH iwmnwsTTYTTKH Sue Ikut-lkutan, 3.30pm, SBC Game 9-30 Children's Special (L). duo and Doyok J SocctTrT love Michacl Jordan the Chica- T 0 V?™ J*** near them because go Bulls a over Knigits this best- 12.00 NN Newt. made to other seem 12.15 PM The Story of Proton.
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