The Business Times, 21 August 1993
1993-08-21
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The Business Times
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Title Section14 1993-08-21 1 Business Times WE KNOW ASIA MITA (P) 552/12/92 Weekend Edition, August 21-22 1993 75*14 words
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648 1993-08-21 1 S N Vasuki - By S N Vasuki SINGAPORE An apparent correction yesterday in the surge of the Japanese yen has sent a wave of relief throughout South-east Asia. While analysts conceded that the yen's retreat to the 105 level against the US dollar may648 words
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Article, Illustration457 1993-08-21 1 AP. Reuter NEW YORK Proclaiming newfound concern about the rising yen, the US government moved decisively to halt the dollar's plunge against the Japanese currency at least for now. But whether Washington will defend the dollarAP.; Reuter; Source: Bridge Info - 457 words
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202 1993-08-21 1 Reuter LONDON British chocolate and soft drinks group Cadbury Schweppes pic swallowed a fifth of US drinks firm Dr Pep-per/Seven-Up for around USS23O million yesterday but denied that it planned a full takeover. Cadbury. the third largest soft drinks company in theReuter - 202 words
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521 1993-08-21 1 Amy Balan - By Amy Balan SINGAPORE The Singapore and Kuala Lumpur stock markets yesterday stampeded to yet another record-shatter-ing day on the back of strong buying of blue chips. The Straits Times Industrials Index soared 23.49 points or 1.21 per cent to an all-time high of521 words
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Article, Illustration658 1993-08-21 1 Anna Teo - The Potong Pasir MP will lose his seat in Parliament By Anna Teo SINGAPORE The Singapore Democratic Party (SDP) has expelled its former sccrc-tary-general Chiam Sec Tong, a move which would cost the Potong Pasir MP his scat in Parliament. But Mr Chiam, who founded658 words
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2am LATEST
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86 1993-08-21 1 Rcuter WASHINGTON The United States had a budget deficit of U5539.58 billion (5563.3 billion) in July, compared with a surplus in June of USS 11.1 billion, the Treasury Department said yesterday. A year ago in July 1992, the government recorded a budget deficit ofRcuter - 86 words
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73 1993-08-21 1 AP GENEVA Serb and Croat leaders yesterday accepted a compromise peace plan for Bosnia, but Muslims opposed the plan and were given 10 days to deliver their final response. The packagc was assembled by international mediators Lord Owen of the European CommunityAP - 73 words
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69 1993-08-21 1 Bloomberg Business News EVEN DALE, Ohio General Electric Co said yesterday that it plans to cut about 4,000 jobs at its aircraft engine unit. Most of the cuts, which had been rumoured earlier this week, involve white-collar employees, and the "vastBloomberg Business News - 69 words
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Article, Illustration107 1993-08-21 1 Stock market indices Friday Cly%t Sill 1.972.27 +2J*9 KLSE Composite 805.51 Nikkei 20.W7.26 *0J| Hang Seng 7.545. 36 -jSjO SET Indct ...958.68 +J33 Jakarta Composite .387.91 -fw CLSA I hioa B Ausl All Ord 1,927.1 +9 y FTSE 100 3,057.6 frifcj IWlp lp« fkapt Do* Jones 3.603.19 3.6J<.^3107 words
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Page 1 Advertisements
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Advertisement16 1993-08-21 1 ■fp— I Down, down, down... Impact of higher yen on South-east Asian currencies, economies Pg 1516 words
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Advertisement10 1993-08-21 1 Lifestyle Cover Story: el i New stage in East-West ties10 words
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Advertisement122 1993-08-21 1 Hock Lock Siew: pg 5 Kmart: Right partner for Metro? SINGAPOftf: THE HOURGLASS Lutky Pla/<i Tel: 7 *****0/1 Scotts Tel: *****27/7198 Centrepornt Tel: *****98/603 Peninsula Pla*a Tel: *****09/*****63 V x 'V™*™ Rank Tel H***** Wor,d T'adeCentre Tel *****07 Chang, A.rpor, Terminal 1 (East West Wings) Tel: *****69 A). lz Terminal122 words
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Advertisement58 1993-08-21 1 v\ Travel notes: el 6,7 *3 Rock city of the ancients I CONTEHfB~in Nam Cmtjmtm Sport Nfws 2 SporeWsia .5.6 Report News 3 fmmUt 7 World News 4 ats o**lsl«ru2 fcwws Ui.7 tefw* _L 9 Sports 13.14 W«H< '9 TV/Ra*o ELI2 Cmrmcm £.7 Focus IS Smk/Gmm -a S tßfcailfrU— M58 words
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SINGAPORE NEWS
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Article, Illustration454 1993-08-21 2 Teh Hooi Ling - Conference on Doing Business in China By Teh Hooi Ling FOREIGN INVESTORS in China must pick their projects wisely as some Chinese industries are already suffering from excess capacities or supply bottlenecks. They must ensure that the project is454 words
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361 1993-08-21 2 A J Leow - By A J Leow THE ONUS is on Singapore investors to check the reliability of Chinese real estate developments when buying into them, said a senior Chinese official here yesterday. Wang Shiyuan, the viceminister of the State Commission for Restructuring Economic361 words
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416 1993-08-21 2 THE Economic Development Board (EDB) is giving another boost to Singapore's regionali sat ion programme with the launch soon of Singapore's first Country Investors' Club for Vietnam. If it succeeds, similar clubs will be set up for other investment markets. EDB's416 words
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359 1993-08-21 2 Genevieve Cua - By Genevieve Cua SINGAPORE Telecom and Singapore Post yesterday signed three-year collective agreements (CAs) for bargainable staff their first as corporations. The agreements aim to bring staff wages and benefits in the two companies in line with the private sector. In a speech at359 words
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227 1993-08-21 2 THE LOCAL tourism industry should do more to sell itself as an employer, Singapore Tourist Promotion Board (STPB) chief Pek Hock Tham said yesterday. Although the industry had aggressively promoted Singapore as a destination, it was "remarkably modest" when it came to selling itself,227 words
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Article, Illustration393 1993-08-21 2 Loh Hui Yin - From Loh Hui Yin in BANGKOK SINGAPORE entrepreneur Sim Wong Hoo of Creative Technology has bagged another award, along with fellow Singaporean Liu Thai Ker. Mr Sim, whose company is famous for its multimedia products, was honoured for his efforts in393 words
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Article268 1993-08-21 2 A 15-MEMBER trade mission from Wales has arrived here on a six-day visit. The mission, led by Welsh Export Office director Ken Smith, is part of an initiative by the British authorities to help small and medium-size Welsh firms seize trading opportunities in Asia.268 words
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Page 2 Advertisements
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Advertisement116 1993-08-21 2 PROPERTY '93 There is a mad scramble to buy residential property. Investors want to buy ahead of what they believe would be further price increases, and speculators are out to take advantage of that. But how long will the current rally in the market continue? To answer this and many116 words
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Advertisement6 1993-08-21 2 rSowTi VIETNAM* I I TheStraitsTfflies Buanes^Bines6 words
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THE REGION
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492 1993-08-21 3 Reuter. UPI BEIJING China's flourishing province of Guangdong has moved to regain control of its chaotic property market, banning land sales for projects that do not have government approval yet, the official Xinhua news agency said yesterday. The strictest controls have beenReuter.; UPI - 492 words
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498 1993-08-21 3 AF. AFP, Reuter BEIJING China's government bureaucracy will complete its switch to a civil service system in three years, according to official reports yesterday. Personnel Minister Song Defu's timetable is far slower than previously reported. ChinaAF.; AFP,; Reuter - 498 words
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Article, Illustration88 1993-08-21 3 Reuter TAIPEI Taiwan's Defence Ministry showcased its locally developed missiles, AT-3 trainer jets and a model of the Indigenous Defence Fighter at the opening of its largest aerospace exhibition on Thursday. The country is seeking to attract foreign interest in its fledg- ling aerospace businessReuter - 88 words
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Article, Illustration479 1993-08-21 3 But Treasurer Dawkins says he is in no mood to negotiate AFP SYDNEY Australia's Labor government was under intense pressure yesterday to soften the toughest and most unpopular budget for more than a decade or face blockagc in the Senate followed by anAFP - 479 words
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467 1993-08-21 3 Al Labita - From Al Labita in Manila THE Philippines has overhauled its export programme to avoid heavy dependence on the United States and Japan, Trade and Industry Secretary Kizalino Navarro said on Thursday. Addressing the Philippine Futuristics Society, Mr Navarro noted that the467 words
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347 1993-08-21 3 Dexter Lee - Dexter Lee By SINGAPORE Singapore Airlines will appeal against a Thai court's judgment on Thursday ordering it to pay 330,000'baht (SS21,000) as compensation to a Thai family. The Thai Civil Court had ruled against SIA for stopping a one-year-old girl from boarding a347 words
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ASIA NOTES
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74 1993-08-21 3 The Straits Times JAKARTA Indonesia is concerned about Washington's threat to withdraw trade privileges but hopes that a planned visit by United States officials next month will clear "misunderstandings and misperceptions" about labour practices here. Foreign Minister Ali Alatas said yesterday. He said Indonesia hadThe Straits Times - 74 words
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Article, Illustration82 1993-08-21 3 AFP MANILA Thousands of people jammed the financial centre here yesterday in a rally honouring political martyr Benigno Aquino, whose death 10 years ago resulted in the rebirth of democracy in the country. Former President Corazon Aquino led the crowd, estimated by police at over 30,000,AFP; Reuter - 82 words
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69 1993-08-21 3 Reuter HANOI A senior United States senator predicted yesterday that US President Bill Ginton would lift the US economic embargo against Vietnam by the end of this year. "I believe that the embargo will be lifted sometime between the middle of September andReuter - 69 words
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62 1993-08-21 3 AP BANGKOK Thailand has relaxed its visa requirements and procedures for foreign tourists and will give multiple re-entry visas to foreign businessmen, the government-run Radio Thailand said yesterday. Visitors from 55 countries who had been allowed 15-day stays without visas will be allowed to extend staysAP - 62 words
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383 1993-08-21 3 Nirmal Ghosh - By Nirmal Ghosh YANGON Three Singaporean companies are in the process of finalising joint ventures with Myanmar in agro-process-ing, said Tin Hlaing, managing director of Myanma Foodstuff Industries. But Mr Tin Hlaing declined to name the companies as discussions with them were383 words
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432 1993-08-21 3 Mahathir in Thailand Bernama BANGKOK Malaysian Prime Minister Mahathir Mohamad said yesterday countries in the region should not be unduly worried by China's spending on defence. Instead, they should take advantage of its increasing prosperity and use that country as anBernama - 432 words
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188 1993-08-21 3 Bernama JOHOR BARU The Johor State Economic Development Corporation (SEDC) will do velop 13 new industrial zones covering 2,600 hectares ovef the next five years, Mentri Besar Muhyiddin Yassin said yev terday. The state government would be allocating Ms 6Bernama - 188 words
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THE WORLD
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WORLD WATCH
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Article, Illustration75 1993-08-21 4 Reuter LOS ANGELES A black protester (above) chanting outside the court building where opening arguments began yesterday in the trial of Henry Watson and Damian Williams, the two men accused of beating Tucker Reginal Denny at the flashpoint of last year's race riots. The sign comparesReuter - 75 words
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Article84 1993-08-21 4 Reuter WASHINGTON President Bill Clinton on Thursday named William Daley, brother of Chicago Mayor Richard Daley, to lead the White House fight to win congressional approval of the trade agreement with Mexico and Canada. Mr Daley, a keen strategist with ties to labour and business,Reuter - 84 words
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Article76 1993-08-21 4 AP JOHANNESBURG Government censors have overturned the controversial ban on a magazine which showed a black woman breastfeeding a white baby on its cover. Under pressure from Tribute magazine's publisher and editor, censors earlier this week suspended the ban, pending the outcome of Thursday's appeal.AP - 76 words
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Article61 1993-08-21 4 LAGOS Leaders of the powerful Nigerian Labor Congress have ordered a general strike if military dictator General Ibrahim Babangida does not surrender power as promised next Friday. Human rights and pro-democracy groups also called a meeting of interested organisations for today to decide on concerted action61 words
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65 1993-08-21 4 AP Reuter JERUSALEM Prime Minister Yitzhak Rabin said yesterday the killing of nine soldiers in south Lebanon bomb blasts did not violate a ceasefire agreed with guerillas last month. He also told Israel Radio the deaths would not affect Middle East peace talks. He brushedAP; Reuter - 65 words
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Article82 1993-08-21 4 Reuter CAIRO Egypt will try 65 Muslim militants in a military court this week, security sources said. The 65 are accused of conspiring to overthrow the government and belonging to the group that tried to assassinate the interior minister on Wednesday. The Jihad group saidReuter - 82 words
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Article50 1993-08-21 4 Reuter JOHANNESBURG President FW de Klerk flies to South America tomorrow for a four-nation tour of South America, ignoring African National Congress (ANC) charges that he had no right to represent South Africa abroad and should stay home to speed the end of white rule. ReuterReuter - 50 words
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Article208 1993-08-21 4 AP MADISON HEIGHTS, Michigan The US International Trade Commission is investigating four companies accused of importing electronic goods covered under a US patent. The investigation stems from a complaint filed by Code-Alarm Inc, a manufacturer of home and vehicle security systems. The Madison HeightsbasedAP - 208 words
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546 1993-08-21 4 Reuter LONDON The Clinton administration would clearly like to see Europe reflate to aid the US export drive, but the major focus of any trade talks remains the massive deficit with Japan, financial analysts said yesterday. Trade data published onReuter - 546 words
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244 1993-08-21 4 Reuter TOKYO Members of the US House of Representatives trade subcommittee urged Japan to take the lead in concluding the long-stalled Uruguay Round of trade talks by the end of the year, a Japanese foreign ministry ofTicial said yesterday. "It is importantReuter - 244 words
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Article, Illustration52 1993-08-21 4 Reuter WASHINGTON US President Bill Clinton blowing out the candles on his birthday cake aboard Air Force One on Thursday en route to Martha's Vineyard as his daughter Chelsea (left) watched. Mr Clinton turned 47 years old as he began a 10-day holiday on the MassachussettsReuter - 52 words
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293 1993-08-21 4 Reuter BERNE The Swiss government said it is seeking a drastic reduction in Switzerland's spiralling budget deficit, and will propose widespread measures aimed primarily at curbing a sharp rise in federal expenditure. "Including expected deficits from cantons (regions) and communes, the stateReuter - 293 words
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444 1993-08-21 4 AFP PARIS France's National Institute of Economic Statistics and Studies (Insee) yesterday made a downward revision in figures for French economic activity during the year's First quarter. It said that detailed results from the national accounts showed that French gross domestic product (GDP) declinedAFP - 444 words
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254 1993-08-21 4 Reuter LONDON British economists took an optimistic line on July's higher than expected trade deficit, and forecast the full year current account gap would be significantly lower than government forecasts. "I think the trade figures are on an improving trend, with the deficitReuter - 254 words
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Article, Illustration345 1993-08-21 4 Russian president makes good promise to try and end political deadlock AP MOSCOW Making good on his promise to try to end Russia's paralysing political stalemate, President Boris Yeltsin yesterday asked parliament to call early legislative elections. "1 understand that giving up power andAP - 345 words
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474 1993-08-21 4 Reuter LONDON Winter may be coming early for Britain's harassed food retailers. The first shots have already been fired in what could become a savage round of autumn price cutting among the ultra-competitive supermarket giants. Britain's second largest food retailerReuter - 474 words
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COMPANIES & MARKETS
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Article, Illustration504 1993-08-21 5 Leslie Lopez - From Leslie Lopez in KUALA LUMPUR MALAYSIA'S Berjaya Group, the diversified conglomerate controlled by aggressive businessman Vincent Tan Chee Yioun, has entered into a joint venture with a fledgling United States fast-food company to expand into Asia. But analysts say the agreement504 words
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212 1993-08-21 5 Reuter KUALA LUMPUR Malaysia's Beijaya Group Bhd said it might use Hongkong-listed Wing Hung Kee Holdings Ltd. for which it has made a takeover bid, as the vehicle for its investments in China. Executive director Tan Kim Poh said:Reuter - 212 words
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237 1993-08-21 5 Bernama KUALA LUMPUR Berjaya Leisure Bhd (BLeisure) will acquire The Palace Hotel in Kota Kinabalu for Ms2s million (5515.75 million) to be satisfied by the issuance of 7.8125 million new BLeisure shares at the issue price of M 53.20 each.Bernama - 237 words
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353 1993-08-21 5 Teh Hooi Ling - By Teh Hooi Ling SINGAPORE Recentlylisted Sesdaq counter Compact Metal Industries reported an impressive 30 per cent growth in net earnings to $3.1 million in its first interim results after being listed. In contrast, another Sesdaq company, Inter-Roller Engineering, posted an353 words
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776 1993-08-21 5 Lee Han Shih - HOCK LOCK SIEW By Lee Han Shih SINGAPORE Consider this scene, from the movie Basic Instinct: Burnt-out cop played by Michael Douglas, while taking a pause from exchanging smouldering looks with bad, rich girl played by Sharon Stone, opens his kitchen drawer776 words
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256 1993-08-21 5 SINGAPORE Metroplex Bhd has reported a 12 per cent rise in interim earnings to M$ 13.43 million (SSB.4 million), and expects its secondhalf performance to remain strong. Rental income from the group's investment properties continued to enjoy steady growth in the six months256 words
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280 1993-08-21 5 Magdalene Ng - By Magdalene Ng SINGAPORE The Insurance Corporation of Singapore (ICS) has reported a 1.5 per cent drop in interim group net earnings to $3.35 million, due mainly to higher tax charges. ICS said yesterday the higher charges resulted from changes280 words
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161 1993-08-21 5 SINGAPORE The Central Provident Fund Board has admitted eight more companies as trustee stocks. The changes take effect today, the board announced yesterday. The new entrants are Acma, Courts (S), Singapore Automotive Engineering, Singapore Computer Systems and United Pulp Paper, as well161 words
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Article, Illustration309 1993-08-21 5 Source: Bridge Info Performance of STII's Index stocks Aug 20 Last Sim lain Stack sate Chat factor bmwcti (I) Avimo 1.970 1.41 CAC 7.300 -0 050 5.24 -3.01 Cercfcos 6.150 0 150 4 41 9.04 FAN 14 200 -0 200 10 19 -12 05 GF Asia 3 060 0Source: Bridge Info - 309 words
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COMPANIES
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COMPANY BRIEFS
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Article41 1993-08-21 6 SINGAPORE GE Life yesterday declared a four-cent interim dividend payable on Sep 30. The Transfer Books and the Register of Members will be closed from Sep 20 to 24 for the preparation of dividend warrants.41 words
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Article74 1993-08-21 6 SINGAPORE SAL Industrial Leasing Ltd, the financial services subsidiary of Singapore Technologies Industrial Corporation, has appointed Bertie Cheng Shao Shiong a director while Wee Tew Lim has resigned from its board. The changes took effect yesterday. Mr Cheng, 56, is the general manager of POSBank and74 words
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65 1993-08-21 6 Bernama KUALA LUMPUR Kim Hin Industry Bhd has proposed a one-for-four bonus issue of 20 million ordinary shares as well as Msso million (5531.5 million) nominal amount of 3 per cent redeemable guaranteed bonds with 20 million detachable transferable subscription rights to be structuredBernama - 65 words
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51 1993-08-21 6 Bernama KUALA LUMPUR Affin Holdings Bhd yesterday reported a pre-tax group operating profit of MSSS.26 million for the six months ended June 30, against MsB.2 million in the previous corresponding period. Group turnover rose to M 5308.6 million from M 580.6 million. BeBernama - 51 words
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259 1993-08-21 6 AFP HANOI Vietnam's first sale of shares in a state company may not succeed because of the firm's massive debts, the biweekly Lao Dong said yesterday. The newspaper, published by the Vietnam Confederation of Labour and usually well informed, saidAFP - 259 words
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Article419 1993-08-21 6 ■Mapn'prit«<$) Aug 21 23 hSVMMFnd Sfclgiptrt (Mt TrWt Income Bond Policy 3.47 3.60 The Commerce 1.45 1.32 ftwiwtial The Savings Fund 1.34 1.41 PniLink Mgd Fund 1.20 1.27 S'pore Prog Fund 0.62 0.63 S'pore Sec Fund 0.95 I.OOxd S'pore Inves Fund 1.10 1.16 Fir* B'putra 1.83 1.88 S pore Equity419 words
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418 1993-08-21 6 Takeover will create the world's biggest toy company AP NEW YORK Mattel Inc will buy Fisher-Price Inc in a US$l billion (Ssl.6 billion) deal that will make the famed maker of Barbie dolls surpass Hasbro Inc as the world's biggest toy company. The takeover,AP - 418 words
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Article, Illustration421 1993-08-21 6 NYT DALLAS Texas Instruments Inc on Thursday became the latest American chip manufacturer to announce plans for a 624,000-square-foot factory in anticipation of continuing strong worldwide demand. The company said it plans to spend US$75O million (SSI.2 billion) to US$l biUion through 1998NYT; Reuter - 421 words
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264 1993-08-21 6 Bernama KUALA LUMPUR The Kuala Lumpur Stock Exchange is waiting for the Securities Commission's green light to lift the suspension on the trading of shares in Union Paper Holdings Bhd. KLSE executive chairman Nik Din Nik YusofT said theBernama - 264 words
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Article, Illustration495 1993-08-21 6 Bernama LONDON Lorrain Osman, who flew into London yesterday a free man after serving a seven-month prison sentence in Hongkong, may return to Malaysia, according to his solicitor Colin Cohen. But he will not be returning to Hongkong to give evidenceBernama - 495 words
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663 1993-08-21 6 MARKET WATCH AFP, Reuter BOMBAY Foreign institutional investors who have bought heavily on Chinese bourses are starting to show interest in India almost a year after they were given entry, helping spur a stock market revival here. An executive of the stockbroking firmAFP,; Reuter - 663 words
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Article, Illustration295 1993-08-21 6 R Sivanithy - By R Sivanithy SINGAPORE Despite concerns about Hongkong's political and economic future, the colony's stock market still has the potential to provide investors with good short to medi-um-term gains, said a broking firm's research director yesterday. In an interview with BT,Source: Bloomberg - 295 words
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Article632 1993-08-21 6 Payment Ex Books Pay date dose date Alex Hldgs 50* b 6 Aug 31 Sep 6 Sep 28 Asia Pac Ld 50* b 2TE Jul 26 Aug 10 Sep 8 BAT 21* I 61.9 Aug 23 Aug 27 Sep 7 Bolton b 5 Sep 6 Sep 18 Sep632 words
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FINANCE & COMMODITIES
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332 1993-08-21 7 Bernama KUALA LUMPUR Visia Finance Bhd, insolvent since 1987, will be restructured under a scheme in which all its operations would be transferred to Hong Leong Finance Bhd, Bank Negara said yesterday. To this end, the central bank has applied toBernama - 332 words
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Article, Illustration52 1993-08-21 7 AFP KIEV A man posing behind the poster of a US dollar bill with a hole to show his face on a local square here on Thursday. The Ukrainian coupon fell reaching its all-time low against the US dollar of 19.050 compared to last week's figure ofAFP - 52 words
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Article, Illustration468 1993-08-21 7 DBS Weekly Currency Review L'SVDM: Critical support at 1.6740 Aggressive selling was seen this week and USS/DM fell from Monday's high of 1.7103 to reach a low of 1.6740 on Thursday. Thereafter, it recovered to close at 1.6870. showing a bullish reversal in the daily chart.468 words
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432 1993-08-21 7 Reuter JACKSON HOLE, Wyoming As billions of dollars surge daily through financial markets worldwide, central bankers are rethinking how the huge capital flows affect their economies and the conduct of monetary policy. The near-collapse of the European Monetary System, strains in Japan caused byReuter - 432 words
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195 1993-08-21 7 Knight Ridder MANILA The state Central Monetary Authority (CMA) has lifted conservatorship over Producers Bank of the Philippines after Taiwanese and Filipino investors infused new money and settled the bank's obligations, the CMA said yesterday. Producers Bank will open next month asKnight Ridder - 195 words
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176 1993-08-21 7 SINGAPORE A consortium of banks here has arranged a three-year US$35 million (5556.2 million) loan facility for Thailand's Nava Finance Securities company, one of the biggest players in the Thai stock market. The loan, which is renewable ever> year, was arranged by176 words
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Article, Illustration1633 1993-08-21 7 I rade-xrtthied index calculated agaimi S pare lop 14 trading partner* Bav year 198 .< US$/S$ forward rates Noon Aug 20 Bid Offer 1-month 1.6116 1.6131 2-month 1.6113 ***** 3-month 1.6113 I 612* 6-month 1.6100 1.6120 Source: OCBC FOREIGN CURRENCY NOTE RATES As at lten m Aag 20: Siagaporc dollars1,633 words
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Article, Illustration166 1993-08-21 7 THE US$/yen moved up five yen overnight on the back of Federal Reserve intervention with lots of stop-loss orders triggered along the way. despite a bad US trade number. In the regional market, the USS opened higher against most currencies and remained bid throughout the166 words
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Article186 1993-08-21 7 Reuter LONDON The dollar dug in its heels on the yen in Europe yesterday, supported by foreign exchange traders' fears the US central bank would return to defend its currency. Rumours swept through London dealing rooms mid-after-noon that the Federal Reserve was intervening on the dollar's behalf in aReuter - 186 words
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188 1993-08-21 7 Btoombere ENERGY REPORT LONDON Oil futures prices were mixed yesterday in low-volume, directionless trade ahead of the weekend, brokers said. In the absence of news to influence prices, many traders were content to hold their present contractual positions and stay away from the188 words
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Article86 1993-08-21 7 AFP NEW YORK The dollar fell yesterday against major currencies as the market took a breather, a day after the Federal Reserve intervened repeatedly to halt the yen's rise against the greenback. At around 9:30 am, the dollar was trading at 105.10 yen, down from 105.85 on Thursday;AFP - 86 words
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COMMODITIES & FUTURES
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1482 1993-08-21 8 SMEX REPORT Reuter SINGAPORE Simex Euroyen futures ended weaker yesterday but off the day's lows, pressured by receding hopes for an interest rate easing in Japan, traders said. Market participants said the dollar's sharp overnight climb and current strength dampened hopes forReuter - 1,482 words
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Article579 1993-08-21 8 COMMODITY REPORTS Tin TIN closed unchanged at MS 12.20 per kg after both buyers and sellers decided to close deals at the opening level yesterday, traders said. "Interest was thin and prices are expected to move at current levels," one said, noting support came579 words
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KNIGHT-RIDDER COMMODITY SUMMARY
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Article73 1993-08-21 8 BANGKOK Thai rice exports totalled 533,088 tonnes in July, up 30 per cent from June, Thai Board of Trade figures showed. Exports were up 17.1 per cent from a year earlier, according to the figures, which were provided by the Thai office of Overseas Merchandise73 words
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113 1993-08-21 8 TOKYO Japan's Marubeni Corp has established a company-wide task force to plan its efTorts to participate in China's massive Tarim Basin oil exploration and development project, a company spokesman said yesterday. "We've never set up this kind of task force for a single project113 words
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Article99 1993-08-21 8 LONDON The future UK spot market for natural gas will be relatively small and harshly competitive after deregulation, a senior official of the statutory industty watchdog OFGAS told Knight-Ridder Financial News on Thursday. John Dorken, deputy director general of OFGAS, said the high costs of99 words
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Article71 1993-08-21 8 SINGAPORE Taiwan's Chinese Petroleum Corp has bought at a tender 40,000 tonnes of one per cent sulphur fuel oil at slightly above USS9O per tonne, C and F Keelung, for Oct 1-15 arrival, a company source said. It also bought 80,000 tonnes of 0.5 per cent71 words
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Article1558 1993-08-21 8 Rubber MS Caanaatftty Excfcaaga (Marts cMf at at lp) RSS 1 Caatract (S cents/kg) Close Volume Open Month High Low Sett (tonnes) Interest Sep 93 133.25 133 25 133.00 400 M25 Oct 0.00 0.00 133.25 300 3,875 Nov 133.50 133.50 133.50 175 4.675 Dcc 134.25 134.00 134.00 6751,558 words
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REGIONAL STOCK MARKETS
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Article543 1993-08-21 9 14.92 Share prices closed higher on a rally led by Philippine Long Distance Telephone Co (PLDT), which posted gains in New York overnight, brokers said. PLDT rose to US$4l-3/8 from US$4l on Wall Street on Thursday. In the local market, it rose 30 pesos to 1,165. The Manila Composite543 words
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Article452 1993-08-21 9 -8.11 Seoul stocks ended lower after profit-taking eroded an early seven-point gain indicating confidence remains shaky in the wake of last week's sudden ban on false-name trading, brokers said. The index ended 8.11 points lower at 729.86. "The market is stabilising. But investors are still not very confident yet,"452 words
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Article48 1993-08-21 9 +41.62 Shares continued to rise further as speculators bought ahead of a three-day weekend in the belief that the uptrend would continue until the middle of next week, brokers said. The Bombay Stock Exchange (BSE) 30-share index closed at 2,742.37 points, up 41.62 from the previous close.48 words
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Article1115 1993-08-21 9 +0.8 The Australian bourse consolidated in yesterday's trade after Thursday's buoyancy to close marginally higher. The market's key indicator, the All Ordinaries Index, tumbled almost 10 points in early trading on profit-taking, but recovered in afternoon trade. The All Ordinaries ended 0.8 points firmer to 1,927.1. On Thursday, the1,115 words
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Article559 1993-08-21 9 -47.8 Taiwan stocks extended early losses to close lower across the board and brokers said the market had entered a downward consolidation. The weighted index was only slightly weaker in early trade but closed 47.80 points down at 4,045.61. Turnover was a moderate NT$ 15.95 billion against Thursday's NT$559 words
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Article274 1993-08-21 9 -0.66 New Zealand's share market took a breather from two days of rocketing higher, closing down a touch but well supported. Forester Fletcher Challenge, the leading light in the market's 6.6 per cent rise on Wednesday and Thursday, eased back 15 cents on profit taking to a NZ$3.6B274 words
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WORLD STOCK MARKETS
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Article801 1993-08-21 9 Britannia Funds Stortiag Catfi BM Offcr Mim (ap Drpout 31 6400 *****0 Mim Jrnc> Gtk .0.1893 0149: Mim Max Income 1.0400 I 0800 US$ Cask Income Plus Fund *10 4*00 *11 0400 PS S Rnenc Fund J J100 5 2200 Strriiag Lq«r> Euro Performance .0.4542 ***** Far EM Fund *2.7650801 words
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Article717 1993-08-21 9 -7.9 UK shares finished lower for the second day yesterday after their extended runs earlier in the week as light profit-taking and a reluctance to take new positions before the weekend set in. The FTSE-100 index slipped 7.9 points to 3,057.6 at the close. Total volume was 632.8 million717 words
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Article100 1993-08-21 9 -11 Profit-taking pushed French shares to close lower, but the CAC-40 index more than halved earlier losses. The CAC-40 ended down 11.00 points or 0.51 per cent at 2,128.20, up 19.8 points on the week. Paris Abb 20 Fr Air-liqwtfr 745 00 -10 00 Alcatel Antthom 723 00 8100 words
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Article281 1993-08-21 9 -0.25 Shares' rallying cry gave way to the yelps of expiring options on a volatile Amsterdam bourse, leaving prices weak despite underlying strong sentiment. The EOE Index ended down 0.25 points at 355.28 after bouncing to a peak of 357.22 as a series of August equity options expired. It281 words
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Article227 1993-08-21 9 -3.93 Swiss shares ended little changed in quiet pre-week-end business. Late trading saw slight profit-taking which took bourse indices into minus after they had fluctuated in a narrow range during the day. The broad SPI closed 3.93 points lower at 1,565.45, up 7.95 points on last Friday. Zurich Aaf227 words
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Article163 1993-08-21 9 -16.3 Share prices dropped in the cash market in the last few minutes of official trading on profit-taking and op-tions-related selling. The DAX-30 share index ended down 16.30 points at 1,922.68. This was up 16.1 points on last Friday. Frankfurt \ur 20 DM AM 174 *0 -6 70 BASF163 words
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Article252 1993-08-21 9 -8.41 Profit-taking ahead of Monday's end of the current forward market account and losses on most other bourses pushed Bel6 an shares to a lower close, ut traders expected the market to pick up next week if money market rates confirmed yesterday's slide. "There might be some more profit-taking252 words
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Article305 1993-08-21 9 -4 Gold shares were off their earlier lows by the close as the market reacted to bullion's bounce late in the session, dragging industrials higher in slow pre-weekend trade. The gold index lost 28 points to 1,771, a rise of 104 on last Friday. The overall index was 30305 words
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Article327 1993-08-21 9 -10.44 Toronto stocks edged down at midday yesterday, but are expected to recover slightly this afternoon, traders said. "Friday's have a propensity to get ugly, but we may see a bit of a rally," one trader said. The TSE 300 Composite Index fell 10.44 points to 4,059.15 on 25.7327 words
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Article827 1993-08-21 9 -8.38 Wall Street stocks drifted lower yesterday as profittaking hit the market after a four-day rally that took blue-chip issues into all-time record levels. The Dow Jones Industrial Average was off 8.38 points to 3,603.19 at 1 pm EDT. In the broad market, declining issues pulled in front827 words
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Article, Illustration2835 1993-08-21 10 Reuter HONGKONG Share prices closed down yesterday but above their earlylows hit after a wave of profit-taking emerged on disappointment over the interim profits of Hang Seng Bank, brokers said. The blue chip Hang Seng Index ended 59.90 points lower at 7,545.36 after sliding 101 points earlier in theReuter; Source: Bridge Info - 2,835 words
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Article, Illustration303 1993-08-21 10 IOCES Ami 19 Close Chaagc SChftr CLSA All China 2,437.70 -52 30 -2.10 CLSA China B ***** -10 10 -1.05 CLSA Shenzhen A 2.185 30 -63.60 -2 83 CLSA Shenzhen B 909.50 -8 90 -096 CLSA Shanghai A 5.874.10 177 00 2.03 CLSA Shanghai B 809 90 -13 80303 words
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Article, Illustration2521 1993-08-21 10 Reuter TOKYO Tokyo stocks closed down for the fourth successive day in lacklustre trade yesterday. Investors were exhausted by the jumpy currency market, brokers said. Individual incentive-backed issues were sought after, but trading was mostly dominated by brokerage dealers. "Both overseas and domestic investors are slowly shifting funds intoReuter; Source: Bridge Info - 2,521 words
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Article, Illustration1774 1993-08-21 10 Reuter BANGKOK Thai stocks closed marginally higher yesterday as speculative sentiment again dominated the market, precluding any really big gains, brokers said. The market was up 3.33 points to 958.68, with turnover active at just under eight billion baht. Gainers outpaced losers 183 to 89. with 68 stocks unchanged.Reuter; Source: Bridge Info - 1,774 words
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Article, Illustration996 1993-08-21 10 Reuter JAKARTA Share prices ended higher in an upbeat mood and moderate trade in yesterday's single session, brokers said. The official index closed at this year's record high of 387.91. a gain of 3.09 points. "Positive local sentiment on newcomers drew in fresh funds which kept up the market'sReuter; Source: Bridge Info - 996 words
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Article, Illustration2502 1993-08-21 11 Source: Bridge Info Source: Bridge Info MOST ACTIVE volume MUI 7.470.000 Bedford 50c 6.301 000 FAC'B 50c 6.042.000 Pc»i Msia 2.463.000 Idns Hyd 50c 2.422.000 Promel 2.204.000 PMI 50c 2.067.000 Bcr)jya Group 1.877.000 Kcmayan 50c 1.845.000 Tan Oioni 50c 1.807.000 Kamunling 50c 1.769.000 MBf Capital 1.621.000 Rcnonj BhdSource: Bridge Info - 2,502 words
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KUALA LUMPUR STOCK EXCHANGE
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Article, Illustration5348 1993-08-21 11 Bernama KUALA LUMPUR Gains in heavyweighted blue chips, including utility giants Telekom and Tenaga. pushed the benchmark KLSE Composite Index past the 800-point resistance to another record close for the third straight day yesterday. The index of 85 quality stocks rose 6.69Bernama; Source: Bridge Info - 5,348 words
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STOCK EXCHANGE OF SINGAPORE
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Article, Illustration7633 1993-08-21 12 Sylvia Wong - By Sylvia Wong SINGAPORE The Straits Times Industrials Index continued to push towards the 2,000 level yesterdav. closing 23.49 points higher to 1,972.27 after pausing for a break on Thursday on profit-taking. This is iust a shade below its intra-day high ofSource: Bridge Info - 7,633 words
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Article, Illustration75 1993-08-21 12 Paul Leo - HOT STOCK Paul Leo SINCE the beginning of August, Venture Manufacturing has surged by some 50 per cent. It reached a record high at $3.06 on Thursday before easing to close at $2.90 yesterday. The bull run is not over yet but a correction back to $2.30 isSOURCE: BRIDGE INFO - 75 words
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Page 5 Advertisements
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Advertisement265 1993-08-21 5 Nows your 11 chance to pay II tribute to Ift the spirit of lift entrepreiieursnip lU Cast your nominations far this years Singapore Business Awards Business Timet, Singapore's business daily, and DHL Worldwide Express, I the leading international air cjipiess company, first started an awards scheme I to honour Singapore',265 words
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Page 8 Advertisements
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Advertisement17 1993-08-21 8 "It was plain sailing selling my cabin cndset" i «r I S2?oi 2~; i *2£ I 737-Ilfi<17 words
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Advertisement37 1993-08-21 8 As and when the latest London/ Rotterdam prices are not available, the previous trading day's closing figures are carried instead fSSSMSS f offers Bp the most F current |F of Job Bp opportunities avoiloble* I tl it37 words
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Page 9 Advertisements
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Advertisement26 1993-08-21 9 MR" 1 [Jte«L WO COMPARISON K Catch our review of a new multimedia computer, just launched here, which makes dinosaurs of even high-end Macs and PCs.26 words
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Page 10 Advertisements
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Advertisement156 1993-08-21 10 I Carrier's Steel Pasha Chronoreflex Evolving with the times, the new Pasha comes with a chronoreflex movement together with the striking contrast of stainless steel and navy blue dial. Smaller than the other Pasha watches, this new 35mm model has steel hands and two pushbuttons set with sapphire cabochons. Uniquely,156 words
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Page 11 Advertisements
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Advertisement7 1993-08-21 11 REGIONAL ANALYSIS Every Wednesday, in Business Times7 words
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Page 12 Advertisements
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Advertisement139 1993-08-21 12 3? I Carrier's Steel Pasha Chronoreflex 4MHR|fy* Evolving with the times, the new Pasha comes with a chronoreflex movement MRfeyjflyL} together with the striking contrast of stainless steel and navy blue dial. Smaller than the other Pasha watches, this new 35mm model has steel hands and two pushbuttons set with139 words
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SPORTS
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Article, Illustration947 1993-08-21 13 4th World Athletics Championships NYT STUTTGART One moment of glory quickly followed another on Thursday night in the world outdoor track and field championships here. If you like world records, Sally Gunnell of Britain and Sandra Farmer-Patrick of the United States deliveredNYT - 947 words
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Article461 1993-08-21 13 AP STUTTGART Olympic champion Quincy Watts lost a possible medal when he lost the sole of his shoe during the men's 400-metre final on Tuesday night. Nike may have lost, too. Will Nike, which sponsors Watts and is a world-wide market leader, loseAP - 461 words
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SCORE CARD
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Article, Illustration105 1993-08-21 13 AFP STUTTGART World Championships Finals Thursday: MEN 400 m hurdles: 1 Kevin Young (US) Championship record 47.18 sec 2 Samuel Matete (Zam) 47.60 3 Winthrop Graham (Jam) 47.62. Pole Vault- 1 Sergei Bubka (Ukr) 6.00 m 2 Grigoriy Yegorov (Kaz) 5.90 3 Maksim Tarasov (Rus) 5.80. WOMEN 400 mAFP - 105 words
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Article, Illustration48 1993-08-21 13 Reuter NEW YORK American League Thursday: Kansas 4 Minnesota 2; Cleveland 5 Boston 1: California S Milwaukee 4 (in 12). National: St Louis 3 San Diego 2; SF 6 Pittsburgh 3; Colorado 6 Philadelphia 5; LA 7 Atlanta 5; Montreal 10 Chicago 2; Houston 8 Florida 3.Reuter - 48 words
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Article, Illustration126 1993-08-21 13 AFP LONDON Scorecard after first day of the final Test between England and Australia at the Oval Thursday England Ist innings: GA Gooch c Border b SWaugh 56; M A Atherton lbw b S Waugh 50; G A Hick c Warne b May 80; M P Maynard b WarneAFP - 126 words
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Article, Illustration41 1993-08-21 13 HATOYAMAMACHI, Japan Maruman Open leading second- round scores Friday (Japanese unless noted): 133 Kiyoshi Murota 68-65 136 Masayuki Kawamura 66-70, Eduardo Herrera (Col) 66-70 137 T C Chen (Tai) 67-70, Frankic Minoza (Phi) 66-71. Also: 143 Samson Gimson (Sing) 72-71.41 words
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Article, Illustration28 1993-08-21 13 AFP POZNAN, Poland Intercontinental Cup Thursday Pool A.Malaysia 3 Cuba 2; S Korea 5 Canada 2. B: Belgium 5 France 0; Argentina 4 Sth Africa 3. AFPAFP - 28 words
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Article, Illustration243 1993-08-21 13 Reuter Reuter INDIANAPOLIS RCA hardcourt Championships third round Thursday (prefix denotes seeding): 1-Pete Sampras (US) b Jonathan Stark (US) 5-7 7-6 (7-2) 6-3; 2-Jim Courier (US) b Tomas Carbonell (Spn) 6-2 6-1: 3-Boris Beckcr (Ger) b Andrei Cherkasov (Rus) 6-4 7-5; Jimmy Arias (US) b 4-Goran Ivanisevic (Cro) 3-6Reuter - 243 words
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106 1993-08-21 13 AP STUTTGART Dan O'Brien, bidding to retain his world title, held the lead after eight events of the decathlon yesterday. The American world re-cord-holder cleared 5.20 metres in the pole vault to take an 87-point lead with only the javelin and 1,500 metresAP - 106 words
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SIDE LINES
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Article64 1993-08-21 13 AFP MINNEAPOLIS, Minnesota The United States defeated Great Britain and Ireland 19-5 on Thursday in the 34th Walker Cup amateur golf match. The 14-point margin of victory set a Walker Cup record, surpassing the previous mark of 10 points set by the United States in 1928AFP - 64 words
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Article134 1993-08-21 13 AFP WASHINGTON Grieving Michael Jordan hit out on Thursday at attempts to link his father's murder to his own highly publicised gambling activities. The NBA superstar issued a statement through his Washington lawyer, David Falk, denouncing some of the coverage of James Jordan's death, which wasAFP - 134 words
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159 1993-08-21 13 AFP COVENTRY, England Zimbabwe's Tony Johnstone and Spaniard Jose Maria Canizares, who have no interest in next month's Ryder Cup, upstaged the Belfry hopefuls by grabbing the first-round lead in the English Open here on Thursday. Johnston is ineligible for the Ryder Cup and CanizaresAFP - 159 words
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Article110 1993-08-21 13 AP SYDNEY Scrum-half Nick Farr-Jones has recovered from a strained thigh muscle injury and is almost certain to play in the third rugby union test against South Africa, Australian coach Bob Dwyer said yesterday. Former Australian captain Farr-Jones suffered the injury during a midweek training sessionAP - 110 words
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Article, Illustration820 1993-08-21 14 The International: Pate eagles his way to first-round lead AP, NYT CASTLE ROCK, Colorado Steve Pate put on the kind of late burst possible only under the peculiar scoring system in use this week and took the first-round lead Thursday in The International tournament. "It'sAP,; NYT; Reuter - 820 words
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Article1706 1993-08-21 13 ag n*t ra ran n»_ eg nm ra nm ra MmWkM GA929 1120 Hami SQ175 1935 SQ176 1145 MahMa SQ228 2120 Ha CM Ma* CHy VN743 1315 VN742 1415 RJ187 0135 Nntfuag CX717 1235 ua806 0735 toihil— GA891 1335 GA890 0001 C1665 1420 CX710 0840 KL8371,706 words
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Page 13 Advertisements
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Advertisement109 1993-08-21 13 ADVERTISEMENT BusinessTimes/KENWOOD GOLFING TIPS By BRETT BRASIER PROFESSIONAL GOLFER Fully Qualified Member Of 5.P.G.A.S Dip in Golf Management J I rarely hit any shot with 100 percent effort and neither should you Operate at around 80 percent of your power because that is k (y/ easier to control. Only when109 words
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SHIPS IN PORT
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Article538 1993-08-21 14 Vessel Voy No Berth Arrival Departure Vessel Vty »> Berth Vm«l Pepertte Jurong Port v*na 62 P07 2101/0200 ASL 23 B 1/93 B Hongs* 2108/0700 Waduwr Vjb 13 93E P01 ikxipft 20.08,1500 Bod Jaya 08/01 93 11 atongade 2108/0500 Zhoog Fa ***** P08A atongade 23.08/2300 Elaine 9310538 words
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Article1788 1993-08-21 14 DELIVERY OF fCL IMPORT CONTAINERS IN PROGRESS SNp Voy No Container* avaiabie Slap Voy No Containers avalaMe T* Kisem 20WS3 19 08.93 0700 B Serota 708H COO(EST) *****3 0700 Senang laya 112SN 19 08 93 0735 Kuala Stat 5 066A COD(EST) *****3 1900 Mate Bhum 171N 1908.93 083S1,788 words
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Page 14 Miscellaneous
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Miscellaneous406 1993-08-21 14 CRYPTIC CROSSWORD Stanlev took food, we hear— U jjjH HT"j|B 6 Cape of South America (6) I I I i I I 9 Dine no good finishing 1 Seven more than heard, as required (6) 13 They do not meet in the gym WM 16 Stamina 12 by guests 24406 words
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REGIONAL FOCUS
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Article, Illustration432 1993-08-21 15 Leslie Lopez - Impact of higher yen on South-east Asian economies From Leslie Lopez in KUALA LUMPUR THE surging yen is expected to hit those Malaysian industries which are heavily reliant on Japanese imports, but several economists say that the overall effects on the economySource: Bloomberg - 432 words
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Article305 1993-08-21 15 Al Labita - Fran Al Labita in MANILA BANKERS, importers and analysts have expressed alarm over the sharp rise of the yen "gainst the US dollar, saying it distorts foreign trade. "It means we have to pay more for our imports from Japan," Philippine National Bank vice-president Angelito305 words
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482 1993-08-21 15 Alan Boyd - From Alan Boyd in BANGKOK THAILAND'S thorny relationship with Japan is expected to benefit from the appreciating yen, with more tourists, increased investment and less trade friction. Little effect is likely on the stock exchange and capital markets but the economics of the482 words
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444 1993-08-21 15 Maggie Ford - Frtn Maggie Ford in JAKARTA INDONESIA is unlikely to be troubled by the effect of the rising yen on repayment of its foreign debt, unless it reaches a level higher than 90 yen to the US dollar, according to economists. The appreciation of444 words
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Page 15 Advertisements
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Advertisement30 1993-08-21 15 WE ARE SEVER TOO 3IG TO SHOWER iNOUGH ATTENTION DNYOI )URING MEETINGS, SEMINARS AND FUNCTION! The WestinStam ford The Westin Plaza Singapore Call Westin Catering at 338-3808 for more information.30 words
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468 1993-08-21 16 UPI TOKYO The Japanese government yesterday officially admitted something private economists have been saying for months the economy is sluggish and signs of a pickup seem not to be spreading. In its monthly report, the government's Economic Planning Agency said there are stillUPI - 468 words
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189 1993-08-21 16 Asahi News Service TOKYO Construction Minister Kozo Igarashi said yesterday that the ministry will transfer more of its authority to local governments as part of the government's effort to promote deregulation to rejuvenate the sagging economy. "In the case ofAsahi News Service - 189 words
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Article, Illustration540 1993-08-21 16 AP. Reuter ISLAMABAD Caretaker Prime Minister Moeen Qureshi on Thursday announced sweeping economic reforms aimed at resuscitating Pakistan's flagging economy. He said Pakistan's economy had become impoverished through corruption, decades of financial incompetence and the scheming of the wealthy few. In a singleAP.; Reuter - 540 words
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221 1993-08-21 16 PARIS Spurning several German and Japanese companies, the South Korean government yesterday awarded the Franco-British company GEC Alsthom NV a USS2.4 billion (SS3.B billion) contract to build high-speed trains. South Korea selected GEC Alsthom over Siemens AG of Germany in the final221 words
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379 1993-08-21 16 UPI TOKYO Foreign Minister Tsutomu Hata said yesterday that the new Japanese government will apologise frankly for Japan's actions during World War 11, but it will not mention the issue of compensation. However, an exception will be made in theUPI - 379 words
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Article, Illustration420 1993-08-21 16 Reuter BEIJING China yesterday launched a major anti-corrup-tion campaign, saying kickbacks and bribes to Communist Party and government officials were undermining economic reform and whipping up waves of popular anger. Politburo member Wei Jianxing, head of the party's Central Commission for Discipline Inspection, ordered officialsReuter - 420 words
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297 1993-08-21 16 AP BEIJING A US congressman reminded Chinese leaders yesterday of the link between human rights and a decision next year on whether to extend normal trading privileges to China. Max S Baucus, a Democrat from Montana who chairs a HouseAP - 297 words
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154 1993-08-21 16 AFP BEIJING Beijing is tor grant state enterprises full decisionmaking powers by the year's end, an official newspaper said yesterday, announcing a key new step towards making the debt-ridden sector answerable to market forces by 1998. "The ccntral government has... dccidcd toAFP - 154 words
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Article, Illustration63 1993-08-21 16 AtP IA PRA YA. Thailand Refugees from a Khmer Rouge stronghold in north-western Cambodia taking shelter from the rain on Wednesday after they crossed into Thailand to flee fighting between Khmer Rouge guerillas and Phnom Peng government soldiers. The refugees, numbering upAtP - 63 words
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234 1993-08-21 16 AFP WASHINGTON President Bill Clinton helped clinch a USS6 billion (559.6 billion) Saudi aircraft deal for Boeing and McDonnell Douglas, beating out the European consortium Airbus Industrie, a senator said yesterday. Senator Patty Murray, who represents Seattle, Washington, where Boeing is based,AFP - 234 words
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Page 16 Advertisements
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Advertisement94 1993-08-21 16 -tNTERPRIS€*B« IMMRtI Monday in Business Times INTELLECT SOFTWARE SOLUTIONS With Intellect Software COMPUTING SERVICE Solutions and a Service BUREAU Bureau to support, you Online Transaction will be on an OPEN Processing Service SYSTEM platform to j Payrou""" 9 m6€t the fast changing Billing (include MCST) requirements Debtors Statement Bank Reconciliation94 words
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Advertisement13 1993-08-21 16 Monday in Business Times China to switch to civil service system, P| 313 words
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Executive Lifestyle
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Article, Illustration1635 1993-08-21 17 Mark Graham - Mark Graham finds out how the pioneering production of The Joy Luck Club was put together in Shanghai Mark Graham The writer is a Hongkong-based journalist who contributed this article to Executive Lifestyle TRY THIS for an unlikelysounding plot. A Broadway director with scant knowledge1,635 words
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STRAWS IN THE WIND
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Article103 1993-08-21 17 AN EXPATRIATE teacher, new in Singapore, heard about how safe the streets here are at night, and began taking late night walks. On one of his nightly jaunts, he found his favourite coffee shop closed. Dismayed, he started looking around, noticed what looked like a makeshift coffeeshop at103 words
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Article47 1993-08-21 17 IN A recent report in The New Paper, a journalist who interviewed Stevie Wonder over the phone asked him, "What have you been up to?" To which the singer replied, M Er, just checking out what's been going on, watching television and checking out everything..Uh, right.47 words
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Article54 1993-08-21 17 LUXURY goods makers still have confidence in Singapore in spite of the retail industry lull. Take the CEO of a German designer handbag maker who, when asked why the company was opening in a saturated market, replied: "1 would not invest in a bucket with a hole54 words
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OPINIONS
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Article, Illustration912 1993-08-21 18 Mohan Kuppusamy - Mohan Kuppusamy says the Taiwanese legislative process may be turning into a complete, disillusioning farce Mohan Kuppusamy The writer is BT's Associate Foreign Editor FORGET Bruce Lee. Forget Jackie Chan. If you want to see real Chinese martial arts in action, go to Taiwan. It912 words
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Article, Illustration674 1993-08-21 18 Maggie Ford - Maggie Ford hails the decision to raze a glaring symbol of foreign oppression The city will be restored to its original cultural style, and harmony will no doubt return. Maggie Ford The writer, who now contributes to BT from Jakarta, was Seoul correspondent674 words
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983 1993-08-21 18 Robert J Samuelson - Robot J Samuelson finds much of political journalism simply myth-making Robert J Samuelson The writer is a columnist of The Washington Post, in which this article first appeared THE Reagan Revolution is not and never was. Yet it remains a standard reference point983 words
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95 1993-08-21 18 Denis Distant - LETTER TO THE EDITOR Denis Distant COULD the Stock Exchange of Singapore please clarify the position of an investor who purchases shares on a "cum rights issue" basis and subsequently Finds the proposed issue is aborted or delayed indefinitely, with a consequent drop in95 words
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PROFILE
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Article, Illustration3864 1993-08-21 19 Russell Miller - Once he was the world's most famous divorce lawyer. Now the phone in Marvin Mitchelson's office is silent. He is bankrupt and facing jail tor fraud. Russell Miller has the details Russell Miller Sunday Times Magazine THE OLD MAN is sitting alone in hisSunday Times Magazine - 3,864 words
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Article, Illustration646 1993-08-21 22 AUDREY TAN - Cmmui Review By AUDREY TAN IT WAS inevitable, given the success of the comic strip and the television show that ran from 1959 to 1963. That and the current Hollywood craze for prepubescent children ensured that Dennis The Menace would hit the silver screen. Produced and written by646 words
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Article, Illustration497 1993-08-21 22 AUDREY TAN - By AUDREY TAN WITH a Fatal Attraction-like plot, The Crush looks like it cannot fail to draw a potential audience, what with a 14-year-old villainess stalking a 28-year-old man who doesn't return her affections. She has a crush on the guy, it seems; the problem is, she's not497 words
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Article, Illustration1265 1993-08-21 22 Abdul Hadhi - One does not hurry through the magnificent rose-red ruins of Petra, as Abdul Hadhi soon learns from his slow-moving horse Abdul Hadhi IT WAS HOT enough to make a Singaporean wilt. It didn't help, either, that the hone 1 was on didn't know the meaning1,265 words
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Article, Illustration1015 1993-08-21 22 SUSAN TSANG - Art ExfeMttta By SUSAN TSANG THANKS to a 1986 agreement with China, Singapore has been able to stage a series of five exhibitions on Chinese civilisation. After the success of Imperial Life in the Qing Dynasty (1644 1911),1,015 words
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Article, Illustration758 1993-08-21 23 SHAHIRON SAHARI - CO Review By SHAHIRON SAHARI VARIOUS ARTISTS: Sleepless ia Seattle This movie starring Tom Hanks and Meg Ryan is the year's surprise hit in the States, and a major reason for that, undoubtedly, is the soundtrack, which this week reached No 1 on the Billboard top albums758 words
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HEALTH & FITNESS
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HEALTH Notes
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Article183 1993-08-21 24 Health Singapore DID YOU know a trip to the burger joint could land you with food poisoning? A recent outbreak of illness linked to fast-food restaurants in the US occurred because hamburger meat was -contaminated and was cooked at temperatures too low to kill theHealth Singapore - 183 words
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84 1993-08-21 24 BBC ♦A SPEECH therapist found that children from homes where Radios, televisions and music are played very loudly may take longer to talk. And one in five could develop severe speech •problems. Another study showed that many babies, living in such rQeisy homes,BBC - 84 words
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133 1993-08-21 24 AFP A JAPANESE company is well on the way to selling an "intelligent toilet" that can run real-time health checks on the user. Toto Ltd, Japan's leading manufacturer of bathroom and toilet equipment, said it had already produced a prototype for the toilet, whichAFP - 133 words
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124 1993-08-21 24 NYT HIGH-TOP basketball shoes don't offer any better protection against ankle sprains than low tops, doctors found. They gave 600 intramural college players low tops, standard high tops or high tops with inflatable air chambers that surround the midfoot and ankle joints toNYT - 124 words
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99 1993-08-21 24 NYT CHILDREN who take calcium supplements because they are allergic to calcium-rich milk may be getting high amounts of lead, Ontario doctors say. They found that one-quarter of the 70 dietary calcium supplements they studied had levels of lead that exceeded the amount considered safeNYT - 99 words
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Article, Illustration1168 1993-08-21 24 Jane Brody - Jane Brody A high calcium intake is critical during the teenage years because the hormones released during puberty increase the rate at which bones are built, reports Jane Brody NYT AN ENORMOUS amount of attention is being paid to theNYT - 1,168 words
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PEOPLE
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Article, Illustration266 1993-08-21 24 GOH LIK TUAN, a Chinese immigrant to Singapore, has something to be proud of. Coming to Singapore at a very young age, Mr Goh has built up a $150 million company called GES Singapore. Early this month, the company held the official opening of its266 words
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TIME OFF
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Article, Illustration854 1993-08-21 25 Shahiron Sahari - Shahiron Sahari looks back at the hits of one of America's best-loved artistes Shahiron Sahari THIRTY years after his first hit single. Stevie Wonder is still one of the most important and consistent of contemporary artistes. While many will know him for his854 words
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Article, Illustration729 1993-08-21 25 Shahiron Sahari - Shahiron Sahari discovers a new karaoke bar at Boat Quay Shahiron Sahari THE MAIN selling point for the karaoke bar called Benny's is its friendliness, but the conviviality is so obvious and overwhelming that it's pretty unreal to the point of729 words
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Article190 1993-08-21 25 Emily of Emerald HHI Margaret Chan returns as Emily in Stella Kon's award-winning play of a nonya orphan who sacrifices happiness to rise to her status as mistress of a wealthy family. Aug 24 to 28. Bpm at Jubilee Hall. Tickets at $18 and $25; $10 and $15 for190 words
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Article221 1993-08-21 25 Stevie Wonder "Live" In Concert Old hits such as You Are The Sunshine Of My Life, Ebony And Ivory and I Just Called To Say I Love You are resurrected in this one-night-only performance. Tomorrow, Bpm at the Singapore Indoor Stadium. Tickets at $50, $70 and $90 are available221 words
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Article98 1993-08-21 25 T)m Blue Planet Produced with help from Nasa. this film takes you on a trip to space where the Earth seems suspended in a limitless void. With footage charting the planet's physical changes, we see how natural catastrophes have devastated life here. Too bad Man is intent on contributing98 words
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Article, Illustration620 1993-08-21 25 Berlin Art Scan* The First significant exhibition curated by Berlin Kunstlerhaus Bethanien after the fall of the Berlin Wall, this shows the present art scene in the formerly divided city. Twelve artists have been chosen to participate in this event. Aug 19 to Sep 15. 9am to620 words
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Article62 1993-08-21 25 Crimes Of The Heart Presented by Theatre People, this is a story of three people with their individual hang-ups. Crimes Of The Heart. Beth Henley's debut play, was awarded the Pulitzer Prize and premiered at the Humana Festival. Today and tomorrow. Bpm; spm matinee on Aug 2162 words
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Article304 1993-08-21 25 Audrey Tan - Compiled by Audrey Tan Michael lackim Um In Cmnrt The Gloved One himself descends upon Singapore. Part of the Dangerous tour, this concert is aimed at raising funds for charities and other worthy causes. Fans are promised a concert they will remember. Aug 29 and 30. 7.45pm at the304 words
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EPICURE
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Article, Illustration595 1993-08-21 26 Jaime Ee - Jaime Ee and photographer Chris Loh fight their way through Takashimaya's hungry hordes to bring you the following spread Jaime Ee THEY have been given fancy names like Singapore Street, European Boulevard, Japan Way and Chinese Alley but what Takashimaya has really created in its Basement Two595 words
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Article, Illustration490 1993-08-21 26 JAIME EE - Bm Appetit By JAIME EE STEAKHOUSES in Singapore tend lo follow a certain route casual atmosphere, no-frills decor, steaks that come with every kind of sauce you can imagine from tomato to sambal, and a Hainanese chef in the kitchen. The new Angus House490 words
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Article, Illustration1042 1993-08-21 28 too Yesterday. Millionaire John Goodman engages Don Johnson to smarten up dim moll Melanie Griffith. Painful remake of the 1950 comedy. Yishun 10: 10.10; 12.20; 7. Boxing Helena. Jealous surgeon Julian Sands severs Sherilyn Fenn's limbs to gain control over her movements. But the acting and the directing are1,042 words
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Page 17 Advertisements
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Advertisement176 1993-08-21 17 I WBlfiHl The ««mW way of turning shares into I Vm*A~4A++U I I THE BURBERRY J K vr^J M B gfl i |f 4 I Available rxcluuvdv SINCAPORfc BuHxrm Maia Shop: 455 Orchard Road. #02-42/45/44. Wwna Alria. Singapore 0925. Td 755 7115 591 Orchard Road. *>1-10 Takashimaya Shopping Centre. Singapore176 words
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Page 18 Advertisements
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Advertisement96 1993-08-21 18 I SPY I I II MY I I I I I I I VI Singapore's premier i;ift boutique SALE I '''in flu >-\|V :i J lln isi i i J. 1 n s, k In <«' Ms I! 1 J U< i ssi M H's I|\ |H i\\ 111 |>|96 words
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Advertisement36 1993-08-21 18 BT welcomes letters :g;g: from yon. Please xw! address them to: W& The Editor, gg sSS Business Times, m 390 Kim Seng Rd, gl: S'porc 0923. Letters ?|;g: 11 should include yowr im W& contact numbers.36 words
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Page 18 Miscellaneous
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Miscellaneous61 1993-08-21 18 b^sTpLQ—pvbej sorry aj&out wr oorJes the. A •s^s eMN(MI9IaMHmI I IILMM|| M ,,A DOONESBURY GARRY TRUDEAU V FKANCeSCA.Cam AUffi 1 BC&OCS, YOU ARB THB H&HJAY, FIHATSUHAT a^T turn com arm me I vemw. eons urn you xxjumr.ru. rune/a*. anpul T>rnmmH6,mmnu. I tuouLpnu.imuu?,MAßNi- Ksacntex) FORG6TTHS RSCALLYCUR H ZA6K3SANPAO&S ABABA! I HCENTANMALTHATIS61 words
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PERSONAL FINANCE & INVESTMENT
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BULLS EYE
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Article, Illustration622 1993-08-21 20 Those polled on their view of the Singapore stock market for the week ahead: Alliance Securities, Baring Securities, Daiwa Securities, DBS Asset Management. Kay Hian James Capel, Kim Eng Securities, Morgan Grenfell Asia Securities, OCBC Securities. Ong Company, Peregrine, Phillip Securities, Smith New Court. TatSource: Vickers Ballas - 622 words
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Article, Illustration289 1993-08-21 20 James Foo - James Foo General manager MMS International (Singapore) MMS is a financial information and market analysis firm and is part of the Standard Poor's Information Group. 44T 1 he bullish reaction I of the Singapore .A. stock market to the 2nd quarter GDP of 10.1 per cent is289 words
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Article, Illustration835 1993-08-21 20 Lilian Ng - Some fund managers tell Lilian Ng how the performance of CPF unit trust funds can be improved Lilian Ng The writer is a free-lancer who writes regularly on investment matters CPF-approved unit trusts may show better returns with the new CPF rules, as fundSource: Micropal - 835 words
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Article, Illustration1175 1993-08-21 20 MANY stock market virgins will soon begin love-hate affairs with shares, given the more liberal Central Provident Fund rules come Oct 1 and an ongoing government campaign to introduce a nation of homeowners to share ownership. Instead of flirting with the market, seduced by "hot tips" from1,175 words
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Article, Illustration947 1993-08-21 20 Patrick Choo - Investors can lower their risks by diversifying their investments without any loss in profit, says Patrick Choo Patrick Choo The writer is a senior investment officer of DBS Asset Management EVEN after more liberal rules come into effect on Oct 1, CPF savingsSource: DBS Asset Management - 947 words
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Article, Illustration822 1993-08-21 21 Soh Tiang Keng - Soh Tiang Keng suggests that you consider restructuring your insurance policy to take advantage of the new retirement age Soh Tiang Keng WITH the new minimum retirement age at 60, it might be prudent to restructure your endowment policies, annuities822 words
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Article, Illustration1129 1993-08-21 21 Agnes Chen - By Agnes Chen OPTIMISTS believe that new Sesdaq listing, Sincere Watch Limited, could be an "ugly duckling growth stock", as one analyst puts it. The watch retailing company one of the oldest in Singapore is unprepossessing at first glance. It1,129 words
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Article, Illustration412 1993-08-21 21 Chew Eng Han - C^tT By Chew Eng Han The writer is assistant manager of investments with NTVC Income A REMARKABLE GDP figure has propelled the Straits Times Industrials Index to dizzying heights. The big question which remains unresolved for now is whether the market412 words
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737 1993-08-21 21 Deposit amount l-wk l-mth 3-mth 6-mth Deposit amount l-»k l-mth 3-mth 6-mth Amex Bank 50.000 Above ***** 4.06:5 ***** 4.06:5 Dmk SS5.000- US$20,000 2.3750 2.9375 3.1875 3 .875 5 J-Jj» Above US$150,000 3.1250 3.6875 3.9375 3.9375 50.000 Above737 words
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Page 23 Advertisements
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Advertisement15 1993-08-21 23 CENTRE STAGE Keep in step with the culture beat The Arts. Every Monday. Business Times15 words
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Page 24 Advertisements
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Advertisement119 1993-08-21 24 Primero automatic chronograph movement. 1 T Non-reflecting sapphire glass. ZENITH Available in gold, gold and steel or steel. BA-INBOVV" J ip^/ F.«clu»ively At Ahmw ft Beyond rte lid 1 Maritime Square fO2-101 Expo Gateway Tel: *****42. Cvtina Waldi Centre ne Lid #01 -36 Raffle* City Shopping Centre Tel: *****85, X119 words
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Page 26 Advertisements
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Advertisement7 1993-08-21 26 The wine column has been held over7 words
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Page 27 Advertisements
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Advertisement787 1993-08-21 27 Null ling BeatsAßud. WHERE to wine, dine and entertain o or V—— A "Heavenly*' Feast Scrumptious Sichuan cuisine. Rich piping hot steamboat. Delicate Yanszhou Dianxian. Hon Sat :II .30am to 2.30pm Sun 10.30 am to 2.30pm KmgsQ King'* Hotel Clarion. A Member of CDL Hotels. Hsvelock Road. Singapore 0316. Tel:787 words
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Advertisement316 1993-08-21 27 I ill from. |j|wHJI^HHHHH Tok* y«»r pick. rente a iww country gS; ftt Stahlmt OrUroom Lunch: ■H| Noon 2.X pm Only $30++pmr pmrton. r*~~r. jrfrirn 7346 IS I M 1 L#V, <*=jNr- SDOMIMiBHtf. I \j f mi am T«i 7PW I gg.. 1 -> Have a sparkling nite with kpa316 words
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Page 28 Miscellaneous
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Miscellaneous2312 1993-08-21 28 TODAY'S TV 1150 ciom. i. n.to AnhDsrhaha(r). 12.M nnnows. 12J0 PMIV fißiaiM Pahit Lidah, 3.30pm, SBC 5 Ym Can Cook: Food In The Fast SBCS 1.00 Kelah Room*! AagkasaSaruniing, a master I* 1 l-30pm, SBC 5 v arts, has a dishonest brother- Today's dishes include Beijing 0.00 AM Ceming Attraction!.2,312 words
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