The Straits Times, 16 June 1993 (2024)

424 1993-06-16 35 HONGKONG Mr Young Bing-ching, director and general manager of Hongkong's Miramar Hotel, urged shareholders to await financial advice before responding to a joint bid by Cheung Kong and CITIC Pacific. In an open letter addressed to the press, Mr Young said

Reuter- 424 words

117 1993-06-16 35 TAIPEI Taiwan's foreign exchange reserves totaled US$B4.9 billion (Ssl36 billion) in April, an increase of US$l.73 billion from March, the Central Bank reported yesterday. Central Bank officials attributed the increase to a decline in capital outflow. Taiwan's foreign exchange reserves totaled US$B2.5 billion in January

AFP- 117 words

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  Motorola's phone plan in Taiwan

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  103 1993-06-16 35 TAIPEI US electronics maker Motorola Inc will discuss possible Taiwanese participation in its plan to establish a global satellite telephone system, a company official said yesterday. Motorola chairman George Fisher will visit Taiwan this week to sign an agreement for technical co-operation with the island's

  Reuter- 103 words

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  Asahi, Du Pont in nylon study

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  62 1993-06-16 35 TOKYO Asahi Chemical Industry Co Ltd of Japan and Chi Pont Co of the US have agreed to co-operate in a study of the nylon business in the Asia and Pacific region, Asahi Chemical said. The two companies will work out specific projects including

  Reuter- 62 words

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  Japan's trade surplus shrinks

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  96 1993-06-16 35 TOKYO Japan's finance ministry announced yesterday the first decline in the country's trade surplus in almost 2'/2 years, mainly reflecting a slump in exports of cars and video equipment to Europe. The surplus shrank 0.1 per cent from a year earlier to US$7.7 billion last month,

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  New British Telecoms shares

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  135 1993-06-16 35 LONDON The latest slate of government shares to be sold in British telecoms operator BT will be introduced to the London Stock Exchange July 19, the Treasury announced on Monday. The first installment will cost 150 pence with a second at 140 pence next March and

  AFP- 135 words

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  Fall in Japanese bankruptcies

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  150 1993-06-16 35 TOKYO The number of bankruptcies in Japan dropped 3.9 per cent from a year earlier to 1,113 failures last month, the first decline in 32 months, credit research company Teikoku Data Bank Ltd said yesterday. The figure, which measures bankruptcies involving liabilities of at least 10

  AFP- 150 words

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  Salim group in US hotel deal

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  127 1993-06-16 35 JAKARTA Indonesia's leading Salim business group has formed a joint venture with US-based Radisson Hotels International (RHI) to provide hotel management services here, a Salim company executive said yesterday. On Monday, the group, owned by business tycoon Sudono Salim alias Liem Swie Liong, signed

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305 1993-06-16 35 TAIPEI Taiwan's Evergreen group, one of the world's largest container shipping operators, said yesterday that it planned to invest in developing a deep-water port on Indonesia's Batam Island. After meeting Indonesian President Suharto last month, group chairman Chang Yung-fa agreed in

Reuter- 305 words

290 1993-06-16 35 BEIJING China registered in May its highest growth in retail sales since the country was rocked by its first bout of panic buying in 1989, an official report said yesterday. Meanwhile, the cost-of-liv-ing price index in China's major cities climbed 16.7 per

AFP- 290 words

750 1993-06-16 36 Eddie Toh- Eddie Toh THE Government announced earlier this month that it would sell more land if necessary to prevent any panic buying. The sale of "reserve sites" are over and above the present sale programme which provides for the development of about

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311 1993-06-16 36 THE Public Utilities Board (PUB) is poised to support the building of an external wing to the Singapore economy, said its chairman, Mr Lee Ek Tieng. Mr Lee said in the board's latest annual report that PUB had taken steps

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348 1993-06-16 36 FRENCH chemical giant Elf Atochem plans to launch in August the production of halo-gen-free polystyrene at its new US$4O-million (5565.2-mil-lion) plant in Tuas. It will be the company's only plant in the region to produce the environment-friendly material, said Mr Roy Lyndhurst,

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253 1993-06-16 36 CHINA'S north-eastern Liao ning province serves ai a good springboard to penetrate the East Russian market, according to listed Wearne Brothers' executive chair man. Tang I- Kang. Mr Tang, whose company has substantial investments in Liaoning, said yesterday that one major advantage

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188 1993-06-16 36 THE National Computer Board (NCB) has joined an international software research and development organisation to help it keep abreast with technology changes within the computer industry. Called the Open Software Foundation, the organisation serves members by developing software that can link different computer hardware

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147 1993-06-16 37 HONGKONG Share prices rose slightly yesterday in sluggish trading as investors stuck to the sidelines waiting for news from two sets of Chi-nese-British talks on Hongkong. After the weekend and a holiday on Monday, the benchmark Hang Seng Index rose 16.72 points from last Friday

UPI; Reuter- 147 words

59 1993-06-16 37 STOCKS ended lower, with the Nikkei average ending just above the psychologically sigoKlcant 20,000 mark yesteri«y. Selling was prompted by the high yen and floundering debate on political reform in Parliament. The Nikkei fell 351.47 or 1.72 per cent to 20,045.88. An estimated 350 million shares were traded. The

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185 1993-06-16 37 SHARE prices closed broadly lower yesterday as the market continued to consolidate after the recent strong run-up, dealers said. The New Straits Times Industrial Ordinary Share Index fell 14.11 points to 4,234.76. They added that prices were also pressured by trading restrictions imposed by brokers, especially on transactions

Bernama- 185 words

142 1993-06-16 37 THE stock market ended narrowly mixed on Monday, ahead of an important reading on inflation. The Labor Department was to have released data on its US Consumer Price Index for May yesterday. Investors worry a high number might compel the Federal Reserve to raise short-term interest rates. "The

AP- 142 words

47 1993-06-16 37 SHARE prices rose sharply on Monday. The Financial Times-Stock Exchange 100-share Index rose 23.7 points, or 0.88 per cent, to close at 2,885.5. Financial Times 30-share Index rose 8.9 points, or 0.4 per cent, to 2,262.9. Volume was 500.1 million shares compared with 528.9 million. AP

AP- 47 words

82 1993-06-16 37 STOCKS finished mixed yesterday as investors sold major property shares to take profit from their gains in the morning, but bought on banks and building material firms in the afternoon, brokers said. The SET Index rose 2.93 points to close at 871.17 on active turnover of 6.42 billion baht.

Reuter- 82 words

50 1993-06-16 37 SHARES traded in a tight range off their morning lows to close slightly higher yesterday, tlespite a weaker gold bullion price. Brokers said a slump in the goltl index was countered by strong interest in quality blue chip stocks. The All-Ordinaries Index closed up 9.7 points at 1,724. Renter

Reuter- 50 words

27 1993-06-16 37 STOCK prices ended mixed yesterday after moderate trade dominated by local investors. The official Jakarta Composite Index closed at 351.7, up slightly from Monday's .151.34. Renter

Reuter- 27 words

524 1993-06-16 37 Tuesday June 15 hks Jardine Intl Motor 8.35 +0.05 K M Bus 12 00 -0 10 Ka Wah Int Hldgs Ltd 1.83 ASM Pacific 300 unch Keck Seng Inv 3.83 0.03 Allied Ind Intl 120 -0.02 Kumagai HK 11.50 +0.20 Allied Oversea 081 unch L Crawford A' 14 50

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78 1993-06-16 37 Contract date: 15/6/93 a ttNCT I*TH 3MTH 6MTH 9 MTH 12 MTH CALL DATE J? Vi 2% 2* 2 17/6/93 J" 4 4 41/ 3% 17/6/93 t 5/< 51/ 5% hi m H 17/6/93 f /4 2 s 5 «H |H IJ/6/93 i I' IVIl Vl 2>

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322 1993-06-16 37 Tue.day Jun« 15 VEM Mitsukoshi 867 -10 A.momotn ivui ?o Mitsumi Elec 1660 -20 AjinomotO IJJU -AJ Morinana ft«l in Altai Plortrir- "vRTI ?fl MOnnaga 681 -10 say iS is a<a^ 2900 uoch JSSSr 11 1 nS "S S,nsu. a ,ors ?5o unc* Sr lone :i£ un is Spon'ugh.Me.a.::::

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310 1993-06-16 37 DtFOSITMIfS M KB Savings 2 14 11,I 1 l>, p, 2"4 IH Fixed deposit 1 month 2 Z 2 ltt 2 3 months 2 1 2' 2 1 2 2". 2'/ 4 6 months 24 24 24 2 1 4 24 24 12 months 2 :l /i 2%

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57 1993-06-16 37 June 15 Chjnff NST Industrial 4?34 76 14 11 Hang Seng 7283 46 16 7? Nikkei Average ?004S 88 ***** Australian All Ord 1 724 00 t 9/0 Dow (ones (Mon) 3514 69 I 968 FT 30 (Mon) 226? 90 890 lakarta Composite 351 70 I 036 Thailand

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195 1993-06-16 37 Open Close US$/DM 1.6275 ***** US$/Yen 105 05 ***** USJ/S$ 1 6077 1 6075 USJ/HKJ 7 7?98 7 7280 A$ US$ 0 6731 0 6742 C'USS ***** ***** Source: Asttey Pearce Singapore dollars to on* unit of foreign currency Burnt 00 Scinf US dollar 1.5960 ***** Sterling pound 2.4158

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58 1993-06-16 37 Crude p*n od (MS/tome) Him 840 (south) iune 835 (central) July 837 50 (south) July 835 (central) Aug 835 (south) Refined palm oil (USS/tome) RBO Palm Oil lune 355 (seller) July 357 50 (seller) RBO Olein June 370 50 (seller) July 367 50 (seller) RBO Stearin July 327

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2657 1993-06-16 37 Transaction Data Juna 15. 1993 (a Ad|usted for new issues; Par value Msl unless otherwise specified P/E ratios are not adjusted for currency differences High Low Company Sate (000) Pik 500 270 TatWah 408 14 IH N) 350 350 T« Wah Fn 350 24 3 350 255 Tan

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23 1993-06-16 37 CRUDE PRODUCT PRICES CRUOe/PTOOUCT MONTH- CMAMOE PRICE (USI). gas is jszjfi gszgg liming of cargoes. Pnces as at 5 15pm. 15/6/93. Source. Telerate.

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6 1993-06-16 37 Tuesday June 15 1993

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28 1993-06-16 37 Op«n High Low Sett Est Vol S«P 93 *****8 1 518OA ***** 2£ o. 514 M 1 5076 Act Vol (Mon). Two. Open Int (Mon): 183

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82 1993-06-16 37 Euroyen 3-month deposit Open High Low Sett Est Voi Sept 93 96 81/ 96 88 96 81 96 84 3549 96 84 Dec 96 82 96 88 96 82 96 84 3775 Mar 94 96 70 96 74 96 69 96 69 4475 Jun 96 45 96 50 96 45

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41 1993-06-16 37 Open High Low Sett Est Vol Spot *****13 ***** 23 ***** 88 ?004S88- Sep 93 *****/ ***** ***** ***** ***** ***** Dec *****A ***** Mar 94 ***** ***** Sep ***** Act Vol (Mon): *****. Open bit (Mm): *****.

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282 1993-06-16 37 Rubber futures (Prices traded on NEAT at lpm June 15 1993 RSS 1 Contract (S cer rt,/ k|) Oocn Month Htgh Low Sett Vol Interest Jul 93 ***** 129.00 ***** 1100 3350 Aug 130 50 130 50 130 75 700 5525 Sep 132 50 132 00 132

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115 1993-06-16 37 Physical (SS) ton Tim Nobar ***** ***** ***** ***** 100 gm 1893 -1918 1895 1920 50 gm 949 %4 950-965 ?0 gm 378-389 378 390 sgm 94-103 95 103 1 g"> 19 -27 19 ?7 Buftoo com (Sl/u) Spore bullion com 604 -610 604 -610 Canadian maple leaf

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10 1993-06-16 37 (OfficWckMmg quotation GBP Ml; Wee O**m» siA,p*,H

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34 1993-06-16 37 (Oi <k>)t.n/Oeut%chtmMk) Open High Low Sett Est Vol S«p 93 0 6078 0 6085 0 6078 0 608? 18 j* 0 6034 94 0 6002 Act Voi (Mon) 56 Open In* (Mon): 176.

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24 1993-06-16 37 Open High Low Sett Est Vol 368 SS 94 3/1 tt 3/3 15 )un 3/4 /■> Act Vol (Mon) m Opm kit (Man) 10

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41 1993-06-16 37 Open High Low Sett Est Vol Spot 5156 51 5?0607 5156 51 *****/* lun93 5230 5230 513/A 5144 475 W» 5? 10 ***** 5700 5149 60 S*P 5P408 5159 Act Vol (Morn m. Open Int (Mon) 3S?

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58 1993-06-16 37 Euromark 3-month deposit Open High Low Sett Est Vol Sept 93 93 21 93 28 93 25 93 25 245 Dec 93 86 93 88 93 85 93 85 180 Mx 94 94 2; 94 27 94 26A 94 26 40 km 94 39 S* 94 39 Dec 94 18

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13 1993-06-16 37 Closing price. (M*/kNo) Kl Tm $l?90 0 ISC) Turnom ?3 24 tonnes)

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39 1993-06-16 37 HHdMMHk.I «*1.«9.n-J U |,W &WW. Eu ,.d<H,.,5...-S.pM a*=a «5 s 2 s fc 3 c ?l M> Mta 1344 ***** 483 ***** ***** 140 920 9/?5 1 Slrie prices whkh are closest (o (he it the money option

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23 1993-06-16 37 Closing price* (USS/lroy 01) Mm Tun Smgaporp 4?1 473 4?3 4 ?4S M Mm New York 470 42? 4?? 4?3 Source Rothschild

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29 1993-06-16 37 Open High Low Sett Est Vof W« 75,3 *<* 25 47 Sep 75 73 O<» 26.10 No* 26 36 2663 let Vot (Mon): ID. Open Int (Mon): NT

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34 1993-06-16 37 Op«n High Low Sett Est Vol Sfp93 0 009 1 OOOTSH 0 009SOI 0 (JOTS II P.",. 0 *****9 w 0 *****S 0 *****3 fct Vol (Mon) 10? Open M ,Moo. 34?

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13 1993-06-16 37 (Official cio*.n 0 quotation. USt/MT) Mm Tmm Ck»> 1148 1148b US4 MM)

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83 1993-06-16 37 Eurodollar 3-month deposit (100 implied intuit Lite) Open High Low Sett Est Vol S«pl 93 96 49 96 50 96 48 96 48 ;000 Dec 96 OS 96 05 96 04 96 04 6800 Mw 94 95 95 95 96 95 93 95 93 4200 tot 95 63 95 64

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81 1993-06-16 37 Simei Indei Price (14/6/93) 76 70 Open High Low Sett Est Vol Jul93 75 00 75 50 74 90 75 40 550 Auf 75 30 76 10 75 00 76 00 500 Sep 76 50 77 40 76 50 77 10 450 Oct 7750 7800 7750 7800 ?80

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44 1993-06-16 38 HIGH LOW airaus imes inoustnais 1992/93 High 1905.34 (28/5/93) 1992/93 low *****5 (18/8/92) All time High 1905.34 (28/5/93) All time Low 64.83 (29/6/65) Business Times Composite 1992/93 High 1543.55 (31/5/93) 1992/93 Low 1122.50 (18/8/92) All time High 1543.55 (31/5/93) All time Low 64.83 (29/6/65)

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3827 1993-06-16 38 INDUSTRIAL AND COMMERCIAL Transaction D.f Jun« 15. 1993 19*2/93 Curr Last Vol Day Div Mat M Can High Low Company Tt«W S.I. or- -000 High Low P/E *J!5 770 170 Acma 730 xd -15 203 730 710 12 5 316 503 2 220 210 I s Alex

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35 1993-06-16 38 Stic 29,870.000 PCL 50c 5,839.000 IPC Corpn 5c 5.836,000 HTP Hldgs 50c 1,849,000 Smgmarine 50c 1,334,000 Amcol 25c 1,222,000 QAF Ltd 40c 1,205.000 St Tyres 25c 1,187,000 DBS Land 1,085,000 S Reinsurance 1,015,000

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79 1993-06-16 38 Total Martlet Mon Tims Industrials 189 815 m 122 880 m Finance 36 981 m 40 599 m Hotels 8 589 m 5 339 m Properties 4? 233 m 30 020 m Loans Stocks 10 182 m 9 381 m Plantations 17 158 m 14 538 m Mining

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327 1993-06-16 38 Ann Williams- Ann Williams REPORT By A BOUT of blue-chip profit-taking caused a 23-point tumble in share prices on the local stock exchange yesterday. The ST Industrials Index fell steadily, ending 23 points lower at 1,819.63, the weakest closing since May 11. The broader-based

327 words

2060 1993-06-16 38 Al shares quoted have a par value o» $1 unless otherwise specified Adjusted for scr*>/nch»s N Tn iimmilij dividend P/E ratios reflect the last annual consoidated results P/t ratios and pes* yields of forewn shares are adiusted for currency differences Trustee stocks under CPf Approved Investments Scheme, s

2,060 words

42 1993-06-16 38 I Sector Volume Value Industrials 9.491 m 13 433 m Finance 4.729 m ***** m Hotels 321.000 382.170 Properties 2.910 m 3 128 m Loan Stocks 428.000 405.245 Plantations 912.000 1356 m Mining Nil Nil Total 18.791 m 29.348 m

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77 1993-06-16 38 Ju* 15 Chjnff St Industrials 1819 bi >iOO ST finance 3258 6/ 7/8 ST Hotels *****1 110 ST Properties 903 66 5 19 BT Composite 1509 84 9 6? ITHgt 797 50 5 82 BT OB OS 35/ 91 BT CADI 1140? 116 81 OBV I Z*****? *****9 DBS

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2 1993-06-16 38

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378 1993-06-16 38 Manager's prices for OUB Investment Mft Prudent* June 16 Union Global fund 0 875 -0865<a Priilm* Mpl f«nd 1111 Unton S pore fund 1?? 176 c n mrp lua TrniJ UnK>n ln sl fund 174 1?8 imfapore unt Trust Union fund 03 7 0 40* The Commerce 1

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405 1993-06-16 39 Goh Eng Yeow- Goh Eng Yeow Its pre-tax profit grew 45% to M5106.22m »y LIKE the other Big Four banks wl^£ major Malaysian operations, OCBC Bank a strong 42-per cent rise in net earnings from its Malaysian branches to M572.3 million <5544.7 million). This was nearly triple the

405 words

254 1993-06-16 39 SEMBAWANG Shipyard yesterday launched the multi-mil-lion dollar floating storage offloading (FSO) unit, Nanhai Shengkai the latest in its series qi ship conversions. Foripirly known as the 123,90(Vdwt oil tanker Sea Queen, Sembawang said that the conversion strengthened its'track record in the installation of

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187 1993-06-16 39 TOKYO Debate over proposed stiff regulations on arbitrage is delaying the planned launch of a new Japanese stock index futures contract, Tokyo Stock Exchange Chairman Minoru Nagaoka said. In late 1992, the Finance Ministry and the TSE started developing a weighted futures contract

Reuter- 187 words

174 1993-06-16 39 GOVERNMENT-LINKED Singapore Technologies Industrial Corporation had a respectable debut on a sluggish market yesterday, closing at $1.25 after briefly touching $1.30 at around noon. Said one local dealer: "The fixed-price buyers should be happy. But I was quite surprised the price was

174 words

293 1993-06-16 39 JURONG Cement Ltd has sold its entire stake in a ready-mixed concrete jointventure manufacturing company in Batam due to poor business. JCL yesterday said its wholly-owned Jurong Readymix Concrete sold its 60-per cent stake in the joint-venture JRC Batam for $342,931. The

293 words

211 1993-06-16 39 KUALA LUMPUR Bumiputra Malaysia Finance Ltd (BMFL) former chairman Lorrain Esme Osman authorised a US$4-million (556.48--million.loan to a Carrian company without the approval of the BMFL supervisory committee set up following adverse press reports about its lending activities in Hongkong,

Bernama- 211 words

274 1993-06-16 39 KUALA LUMPUR The Public Bank Group has launched a joint-venture leasing company, known as Minfu Public International Leasing Company Ltd (MPIL), in the Specialised Economic Zone of Hainan province in China. The signing for the jointventure agreement took place in Beijing yesterday, witnessed by

Bernama- 274 words

313 1993-06-16 39 Robert Ng- By Robert Ng INVESTORS who use their Central Provident Funds to buy new shares in initial public offerings will only know if their applications were successful through their respective CPF agency banks. But as they may not receive their

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311 1993-06-16 39 DBS Banks' non-redeemable convertible preference shares (NCPS) will be traded on the Stock Exchange of Singapore (SES) today the first under the newly introduced "when issued" trading format. In a circular to its members yesterday, the SES said this

311 words

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  Creative completes placement

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  48 1993-06-16 39 NASDAQ-LISTED Creative Technology yesterday said that it has completed its placement of 3.5 million shares at $28 50 each. The shares comprise 2 million new and 1.5 million vendor shares. DBS Bank was one of four managers which handled the international portion of the placement.

  48 words

• Article

  CWT forms new subsidiary

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  63 1993-06-16 39 CWT Distribution has just formed a wholly-owned subs id-* iary called CWT Asia Pte Ltd. The new company, which has an authorised capital of $100,000 and a paid-up capital of $2 will function as an investment holding company. Mr Lau Chee Tiun, CWT's chief executive officer,

  63 words

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  Courts pays dividend

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  32 1993-06-16 39 COURTS Singapore has announced that a final dividend of 10.25 per cent less income tax of 27 per cent will be paid foi the year ended March 31, 1993

  32 words

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  Nam Fatt on buying spree

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  105 1993-06-16 39 KUALA LUMPUR Nam Fatt Bhd has proposed to acquire four companies and a piece of land in Klang for a total of M5265.8 million (*****.8 million). A Nam Fatt statement yesterday said the four companies were Maddusalat Bhd, Tai Chong Electric Manufacturing Sdn Bhd, SSAS

  105 words

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  Petronas in pact with Sinopec

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  104 1993-06-16 39 BEIJING Petronas and China's Petrochemical Corpora tion (Sinopec) yesterday signed a memorandum of understanding which serves as an umbrella for future co-operation and partnership between the two state petroleum companies. The MOU, signed by Petronas vice-president Hamzah Bakar and Sinopec president Sheng Huaren at a

  104 words

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  UMW in China ventures

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  145 1993-06-16 39 KUALA LUMPUR UMW Holdings Bhd. in a move to diversify its regional business, has signed letters of intent to enter into two joint ventures to manufacture heavy equipment parts and road sweepers in China. The two projects, which were expected to involve a total investment of

  Bernama- 145 words