The Business Times, 14 June 1980

Total Pages: 14
1 14 The Business Times
  • 11 1 BUSINESS TIMES HUMP) N*. IU/1/M SATURDAY, JUNE 14, ISM 50 CENTS
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  • BRIEFLY...
    • 97 1 AP NEW YORK, Fri. Two of the largest US commercial banks cut their prime lending rates today to 12 per cent, the level established earlier this week by some smaller American banks. Chemical Bank, the country's sixth largest, lowered its prime from 13 per cent, undercutting the
      AP  -  97 words
    • 68 1 AP MANILA, Fri. The Asian Development Bank (ADB) has signed an agreement with a syndicate of Swiss banks for a sixth bond issue in Switzerland of 80 million Swiss francs. ADB said the agreement was signed by its president, Mr Taroichi Yoshida, in Zurich with representatives of
      AP  -  68 words
    • 62 1 AP BELGRADE, Fri. Yugoslavia's communist party central committee has elected 61-year-old Stevan Doronjski to fill a vacancy left by the death of its president, Mr Josip Broz Tito, last month. Mr Doronjski, a Tito loyalist from the selfgoverning province of the Voivodina, was chosen to serve until
      AP  -  62 words
    • 64 1 Reuter TOKYO, Fri. A stronger yen has helped Japan halt a 19-month rise in wholesale prices, the Bank of Japan said. The bank reported that the nation's wholesale price index fell 0.2 per cent in May, the first decline in the key inflation measure since October
      Reuter  -  64 words
    • 61 1 AP MANILA, Fri. Asean will discuss this month the proposed creation of a UN peace-keeping force in Indochina, Foreign Minister Carlos Romulo said today. Back from a trip to Geneva and New York, Mr Romulo said the proposal will be taken up by the foreign ministers of Asean
      AP  -  61 words
    • 83 1 UPI BANGKOK, Fri. Kampuchea warned that Thailand's decision to send thousands of Kampuchean refugees back to their homeland this month "threatens peace and stability" in Southeast Asia. "This is a new, extremely serious step in Thailand's hostile attitude towards Kampuchea, a step which is further aggravating the already
      UPI  -  83 words
    • 52 1 NEW YORK, Fri. The stock market advanced broadly, responding to further declines in interest rates. The Dow Jones average of 30 industrials climbed 2.13 to 874.74 in the first half hour. Gainers outnumbered losers by a 2 to 1 margin in the early tally of New York Stock
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  • 153 1 Rises M U I 1 1020 30 K L Kepong 510 18 U M Flour 234 14 PAN 735 10 A Enterprise* 418 10 Hons Leong Ind 208 10 Y H S Main 368 8 Peri Msia 1M g Kuala Sidim 420 6 Batu Kawu 376 6
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  • Article, Illustration
    142 1 Rises MUInd 1020 40 Petaling Tin 1560 40 Berjuntai 920 25 K L Kepong 515 23 OU Ent 580 +20 SgBesi 1450 20 Rahman Hy 955 15 Temerloh 344 14 N BT 209 +11 Falls C Sugars 615 -35 M Banking 1090 -30 Tan Chong 660 -15 Gold
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  • 549 1  -  FIRST PHASE APPROVED By RONNIE LIM Chief Reporter THE SINGAPORE Institute of Standards and Industrial Research (Sisir) will be the driving force behind the proposed science and technology park to be built in the Republic, a spokesman of the institute told Business Times yesterday. Phase
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  • 310 1 AGREEMENT has been reached on the terms for the merger of six tin companies operating mainly in Perak under the Malaysian Mining Corporation stable. The merger would be brought about by simultaneous share exchanges between Malayan Tit»Dredging (M) on the one hand and each
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  • 436 1 ANOTHER family concern has taken a substantial stake in property developer Malayan Credit Ltd (MCL) barely two months after a large share was purchased by the See Hoy Chan group. Sindo Timber Enterprises, a large Indonesian timber and property group, has purchased 12.26
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  • 393 1 FOREIGN companies which own residential properties in Singapore will have to file a return of these properties to the Controller of Residential Property by Dec 16. The return should specify the land area of the property, its location and the nature of the estate and the companies'
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  • 299 1 Reuter THE deliar fell agafa»t —Jir curettes la Lea--4m yesterday after the US Federal Reserve, the eeantry*s eeatral bask, 1,-,--,,» ia_ .a_ lntaitaat IVWfI WJ 110 EKBaUI UtcFTVI rate Is the taee ef wereeaThe weakeatag ef the Mar beestod geld, which rase
    Reuter  -  299 words
  • 833 1  -  By MARGARET THOMAS STUDENTS admitted to the University of Singapore last year had, on average, better 'A' level results than their counterparts in the United Kingdom. But local entrants to the Law and Arts/Social Sciences faculties were of an appreciably lower standard than
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  • Page 1 Advertisements
    • 9 1 A helping hand when you need K most HsF
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    • 204 1 TOURNEY IRONS Precision cast starless sled mat gives easy, sure aSgnment by squaring the face up to a 90° angle to the target A sale weighted head is incorporated to get the bal up easer and qucker with extra accuracy and control Tourney 's longer iron blade comes jwith heel
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    • 56 1 See Heek Leek Sew I LEISURE TIMES SINGER Impressed by lseal mpptten 2 INVESTMENT la strategic THAI pretest ever S'pere riee metals aad minerals I iaki WHEN yea eaa he pread sf being a saeb 7 PANEL rallag ea St Plraa AIRCRAFT f. TV AND < C SSSSKS 1 WHERE
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    • 227 1 See hack page eel 4 ABQ Ist Quarter 1980 Malaysia's investment incentives: need for change Malaysia has been quite successful in attract ing foreign investments to help power the country's industrialisation programme. But foreign investments remain mainly capital intensive despite incentives to encourage labour intensive industries Also, locational incentives to
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  • TRADE AND INDUSTRY
    • 565 2  -  By RICHARD SEAH ARE our local manufacturers really as good as they claim to be? "Certainly," says the representatives from the motor products division of the Singer Company who were in Singapore to meet local manufacturers interested in supplying the company with parts and components for
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    • 200 2 A "COST SAVER" is being marketed in Singapore for the building and related industries. This is the plasticiser and retarding concrete admixture, Daratard. W R Grace (Singapore) Pte Ltd is marketing Daradtard in Singapore and says that it helps to reduce construction costs of projects through cement
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    • 186 2 THE Dairy Farm group of companies, owners of Fitzpatricks in Singapore, has appointed Mr Owca HawellPrtee as its managing director. He will succeed Mr Philip Oram who will retire next year. Mr Price is currently based in Singapore as the group's general manager for South-east Asia and
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    • 357 2 JEWELLERY designers in Singapore have been invited, for the first time, to take part in the Hongkong Diamond Design Competition. This is the only competition for Jewellery designers in South-east Asia. Details were announced yesterday by the honorary secretary of the Diamond Importers Association of Singapore, Mr
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    • 174 2 THE SYDNEY City Council is considering three overseas tenders two from Asean countries to restore the historic Queen Victoria building. The sandstone building was constructed between 1893 and 1896 as a city market and has been classified by the National Trust as a superb example
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    • 471 2 SEMINARS AND COURSES June 18-20: Tactics Techniques for Effective Supervision, SIM Conference Room, SIM June 18-20: Fundamentals of Finance, Shangri-La Hotel, AMR International June 19-20: Credit Management, Shangri-La, Acumen Credit Services June 23: Sales Awareness for Service Engineers, Hilton Hotel, Consulasia June 24: Maintenance, Inspection A. Applications of
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    • 230 2 ONE of the world's leading authorities on audio technology will be in Singapore for the official launching of the Bang and Olufsen Beocentre 7000 a high-end combination stereo system. The expert, Mr S K Pramanik, is an engineer with Bang and Olufsen
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    • 216 2 THE National Productivity Board (NPB) will be conducting another basic course on microprocessors from July 7 to Aug 13 following the successful launching of the course earlier this year. The board said response for the first course was so overwhelming that late applicants has to be
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    • 67 2 AMERICAN Express Card and Inter-Continental Hotels are offering free meals, golf, tours and an extra night's hotel stay to all American Express card members between June and September. These benefits are available at seven Inter-Conti-nental Hotels. They are the Hotel Bali Beach, Ceylon Inter-Conti-nental, Siam
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    • 400 2 THE president of Daiei Inc, said to be Japan's largest retail empire, will visit its newly-opened Singapore buying office this Monday. Mr Isao Nakauchi, 58, will be accompanied by Daiei's senior managing director, Mr Yoshio Iriye. The local buying office was established last
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  • Page 2 Advertisements
    • 435 2 Businessmen, Are You Getting Your Share of the Billion Oil Industry? The South East Asia Oil Directory 1980-81 (Third edition) is the only professional reference work which brings together an encyclopedic volume of material to serve all sectors of the oil industry. It is the most comprehensive and in-depth coverage
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  • REGIONAL
    • 51 3 Refugees returning to Kampuchea with rice seeds obtained from the Nong Chan relief centre in Thailand near the Kampnchean border. International relief agencies at the centre have increased the supply of rice seed to each refugee from 29 to 31 kilo. AP photo Source: AP
      Source: AP photo  -  51 words
    • THE REGION IN BRIEF
      • 386 3 Agencies AUSTRALIA will face a beer drought unless the country's hotels stop hiring day workers, a Liquor Trades Union leader said. Federal senior vice president of the union, John Murphy, said the union is determined to eliminate the socalled casual labourers from Australia's hotels and will cut
        Agencies  -  386 words
    • Article, Illustration
      457 3 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Amstelstraat (after Sun Diamond) 3/4 Balantang (after Cherry Ruby) 27 Berdikari (2100 after Nittoku Maru) 19 Deepa Maya (after Cherry Ruby) 28 Firiza (after Fair Rainbow) 35/36 Han Yong (after Navikapol) 40/41 Joo Hong (Tanker) (after Bowoon No. 5 P/O Subject Gas
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    • 199 3 AFP PROFITS payable overseas by foreign companies operating in Australia total more than a third of all private company profits in Australia. This fact emerged yesterday after months of questioning by opposition members of the Federal Parliament. A written answer released by the Treasury showed
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    • 296 3 Reuter CHINA, which is striving to bring Taiwan back into the mainland fold, imported via Hongkong more than five times the amount of Taiwanese goods last year than it did in 1978, the People's Daily reported on Thursday. Quoting what it said were
      Reuter  -  296 words
    • 227 3 Reuter TAIWAN will be able to attain an economic growth rate of 6 per cent and 6.5 per cent in the third and fourth quarters of 1900 respectively, if oil prices in the latter half of the year do not rise more than
      Reuter  -  227 words
    • 94 3 Reuter JAPAN's wholesale price index fell 0.2 per cent to 133.1 points (base 1975) in May, after a 2.7 per cent rise in April, the Bank of Japan said. The year-on-year rise in May was 21.9 per cent, down from 24.0 per cent April increase. This
      Reuter  -  94 words
    • 460 3 THE time is perhaps ripe for Malaysia to evolve a new method of managing public monies. Speaking on constitutional and other legal aspects of public finance at a senior government officers' seminar in Port Dickson, the Malaysian Treasury solicitor K. C. Vohrah
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    • 301 3 AFP WITH its excellent communications system and services infrastructure, Hongkong could be used as a regional distribution centre for various French products, the head of the far east department of the French External Trade Council (CFCE), Mr Claude Vidalain, said on Thursday. Mr Vidalain is
      AFP  -  301 words
    • 130 3 THE MALAYAN Railway (KTM) suffered a loss of more than $1 million from 197 train mishaps between January last year and May this year, the Dewan Rakyat was told recently. The Deputy Transport Minister, Mr Ali Shariff, said the main cause of train mishaps was
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  • Page 3 Advertisements
    • 252 3 K-r* '!T Briy NOW IN SIN A >* TTT??? A special 8-page section from America s most influential newspaper. A Weekly Review from The New York i Times is now being distributed to a growing list of world newspapers. Each issue of the Weekly Review includes a summary of world
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  • RAW MATERIALS
    • 216 4 ACCORDING to the weekly review of the Malaysian and Singapore rubber market from IMtiay, Catter sad Bath, sentiment took a turn for the better as levels were pushed up some 14 cents in higher turnover before profit-taking and lack of follow-through pared the gain
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    • 332 4 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.06, 100 per cent second class 0.90, 100 per cent third class 0.88, 25 per cent new crop 0.80, B-10 per cent 0.68. THAI BROKEN: A-super 0.63, Special no stock.
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    • 96 4 THE Chicago Board of Trade soybean futures finished US2 V* to three cents a bushel lower on Thursday, near the bottom of a 4 Yi cent range. Local activity dominated dull trade. Local liquidation and a general lack of purchasers pressured prices early and kept them lower all day
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    • 277 4 IN Singapore, the market closed quietly steady yesterday with July One RSS buyers quoted at 296.50 cents per kilo, unchanged from Thursday's close, dealers said. The morning market eased 0.25 of a cent after fluctuating within a 2.50 cents range on local covering interest alternating with upcountry selling, they
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    • 280 4 R.AJ3. prices In cents per kilo yesterday: (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 296.50 297SON Int. 1 R.S.S. July 298.25 298.75 Int. 1 R.S.S August 300.75 301.2 Int. 2 R.S.S. 287JO 288.50N UK/Coot 286.50 287.50N Int. 3 RS.S 284.50 285.50N UK/Coat 283.50 284.50N Int. 4
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    • 99 4 NOON SSI t and SMR pricaa yeeterday KAS Jua Correal Mth) (forJ'rl Bayer* Se 278.00 27&.00 Mth) SSR20 SSRSO (1 -too pallet 11 too palld n;an mi t) 277.00 k) 274.00 Lie r* 279.00N 276.00N illere 280 00N 277.00N MKILB jnly Anew* SMRCV SMRL SMR5 SMR CP
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    • 80 4 THE Strata tin price la Peaaag me Ms 4 per Steal to $2,159 yestoray, $14 abeve the litentttiml Ha Agreemeat celling, dealers said. The steadiness was attrihated to firmer Londsn sentiment ea Thursday night and seme Enropeaiy Japanese aad lecal hayings while a higher eeatrlhattoa st tin restricted
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    • 37 4 Rubber: June 13 Singapore: July: 296.60 cents (unchanged) Malaysia: July: 297.50 cents (down 1.00 cent) Tin: M 52,169 («P $4) (equivalent to $35.70 per kilo) (up 7 cents) Official offering: 204W tonnes (up 33Vi tonnes)
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    • 194 4 TARN and cotton prices were quoted as follows in Hongkong yesterday: (la HK dollars, spot ex-go-down) (Mm yam: China Blue Phoenix 30s 2.196 32b 2.580 4fe 2,845 (per bale of 400 lbs). Plem goods: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 173 4 CHINESE Predaee Exekaage, tflngapare, fltnisg prions per 100 kg yesterday: Cseoaat all: Bulk fob 132.00 sellers, old drum (in second hand drum) fob $142.00 sellers, new drum fob $148.00 sellers. Copra: Mixed (loose) $76.00 buyers. Pepper: Muntok white pepper fob Asta NLW $472.50 sellers, Sarawak white pepper faq
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    • 226 4 THE Chicago Board of Trade wheat futures finished USIII to t H cents a bushel higher in slow turnover on Thursday. Prices settled near the top of a 6 Vi cent range. Local short-covering on reports of poor winter wheat yields in Texas and floor talk of harvest delays
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    • 796 4 COFFEE: Robusta futures dosed yesterday morning steady with pared losses from the opening in near months but slightly lower in deferred months. Nearby losses at the morning close ranged to £5 after opening losses of £8 and mid morning 0 f £13. Deferred months were up to £15
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    • 131 4 IN Kuala Lumpur, the market weakened yesterday further on continued lack of buying interest, dealers said. Trading remained quiet with June easing Mss to $845 per tonne in the southern and central region and July also easing $5 in the south. In the north, June slipped $2 to
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  • ASIAN STOCK
    • 582 4 TOKYO Source: DBS-Daiwa THE market returned to normal yesterday, It shifted on a (airly firm undertone, though it could not be denied that selection was wide-spread, missing the focus. But at the same time, investors continued to take a wait-and-see attitude in general, so long as the
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    • 338 4 Source: SHK See THE market had a rollercoaster ride yesterday as heavy overseas buying of blue chips was met by local retail client profit-taking. The selling pressure was well absorbed however, anrf the cut in the US discount rate should bolster the market. Some selling was prompted because no
      Source: SHK See  -  338 words
    • 338 4 STOCK prices closed firmer yesterday, spurred by market belief that local interest rates have peaked, dealers said. Miner Central Norseman led the golds with a 40-cent rise to A 58.60 with Buka Minerals up 20 to 75 cents and Samson 20 to $1.96 with Allstate, 47 cents higher at
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    • 274 4 STOCKS continued to rise in active trading yesterday, dealers said. Bangkok Bank rose two baht to 290, First Trust 3.50 to 82, Berli Jucker four to 309, Jalaprathan Cement five to 117 and Rama Tower 3.50 to 77.50. JUNE 13 Bants Asia Credit 138 3 Asia Fibre 136 4-4
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    • 153 4 STOCKS closed mixed yesterday and turnover declined to 2.3 million pesos from Wednesday's 3.8 million, dealers said. Atlas Con B, Benguet Con B, Philex B, Basic Petroleum, Podco B and PLDT rose, while Phil Overseas and First Philippines Hldgs fell The rest were unchanged or untraded. JUNE 13 Pesos
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    • 51 4 FINANCIAL TIME8 INDUSTRIALS Thursday 448J Wednesday 446.0 Week Ago 423 4 DOW JONE8 AVERAGE INDUSTRIALS Thursday 872.61 Wednesday ***** Week Ago 858.70 H.R.HANG SENG Friday JJMJ Thursday 2J-22 Week Ago ***** SYDNEY INDUSTRIALS Friday 660.91 Thursday 633.91 Week Ago 697.08 ALL ORDINARIE8 Friday «78.36 Thursday 871.33 Week Ago
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  • Page 4 Advertisements
    • 56 4 I t 4# y y .yy ifli co ""°;:;has *«'*£>ut °<l and 0< »«*>•> People: o out «o* tf^SRS^S-' B ,don coonxrv eac, on fcon9 lo tent'O« o d>v.6u»> phiW 065 M e <oturt Sin 9 a«x"f'^ e(n ,t\ooa> w BEST V V' t V. Distributed by i* -w 'V--
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  • OVERSEAS
    • 448 5 Reuter PRESIDENT Carter has warned the Soviet Union again that he was ready to use military force if necessary to fight off any move by Moscow to take over the Persion Gulf. He made this warning in a 75-page written statement submitted to his Democratic
      Reuter  -  448 words
    • 768 5 ARRIVALS Service Local Operator Number Time From MAS MH601 0700 KUL FT FT75 0710 JFK/ORD/ANC/TPE SIA/BA SQ/BA17 0715 LHR/BAH SLA SQ101 0815 KUL MAS MH621 0635 PEN MAS MH671 0930 PEN/KUL MAS MH605 1000 KUL SIA SQ211 1000 HLP CAL CT814 1000 HLP CPA CX710 1005 HLP
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    • 172 5 Reuter the United States Senate voted in favour of President Carter'» controversial plan to start registration of young men for possible military service. The measure has also been approved in a slightly different form by the House of Representatives but is now likely to be
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    • 273 5 AP IN A major diplomatic initiative, West European leaders are unveiling a new Middle East policy which gives a significant boost to the Palestinian cause. British officials said the new declaration calls for a negotiating role for the Palestine Liberation Organisation in any Mideast peace process.
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    • 179 5 Reuter IRAN has announced a drastic cut in its expected oil income, saying that there was no point in exporting oil if it could not spend the money on imparts. Oil Minister All Akbar Moinfar told a news conference following his return from
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    • WORLD IN BRIEF
      • 301 5 Agencies ECONOMIST John Kenneth Galbraith, an advisor during the Kennedy Administration, said the United States is in danger of having the worst recession since World War O. In any case, he told the women's National Democratic Club, the downturn will rival the 1974-75 slump. His prognosis of
        Agencies  -  301 words
  • Page 5 Advertisements
    • 1196 5 SING INVESTMENTS FINANCE LIMITED (Incorporated in the Rtpubic of Sinfaporo) AND ITS SUBSIDIARY COMPANY (in Singapore dolors) CURRENT ASSETS: Hire purchase debtors (Note 8) Housing general loans debtors (Note 9) Singapore Government registered stocks Sundry debtors, deposits A prepayments Cash in hand at banks Statutory deposit with Monetary Authority of
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  • 322 6 SINGAPORE businessmen should have turned out in full force at the National Stadium on Thursday night. They would have learnt a profitable lesson or two from Donny and Marie and the rest of the Osmond family. For behind the cute jokes, toothy grins and catchy song
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  • 328 6 IT SHOULD not come as a great surprise that new entrants of the Singapore University are of a higher quality than the average for the UK. This is because the UK average is weighed down by many lesser-known institutions which may not set such rigorous standards
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  • 2768 6  -  STRATEGIC MINERALS Among the plums that GORDON McLENDON passes out as he stomps around the world investment circuit is the advice to invest in Singapore. But he has an even greater passion now tor metals and minerals with names most of his listeners have never
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  • Page 6 Advertisements
    • 253 6 ADVERTISING MARKETING MANAGER SALARY NEGOTIABLE AROUND *50,000 PetroMm Publishing Co (Asia) Pte Ltd. publishes Austral Asia's leading Energy and Resources Journal in Singapore Our high quality, monthly magazine and industry directory are circulated throughout the world, our subscribers and advertisers range from government departments, through the petroleum and mining industries,
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  • Page 6 Miscellaneous
    • 1209 6 SINGAPORE 5 1.00 PM Open** Moved by Sesame Street 2.05 Saturday Matinee Another Time Another Place 3.40 ABC Wide World Of Sports 4.35 The WaKons The Medal 5.25 Jejak Kembara (r) 6.05 The New Shmoo 6.30 News In Brief 6.35 Cuttval Diary (English) 6.40 Faniy See-saw 7.30 News (Malay) 7.45
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  • 1438 7  -  In the recession-hit West, the plane-makers are the envy of other industries. The world's big airlines are having to undertake a major programme to increase by 8 per cent a year through the 1980s. What this means, reports MATTHEW SYMONDS, is that the booming
    FT  -  1,438 words
  • 786 7  -  Not everyone has to suffer from the effects of rising oil prices as, writes LEONARD SILK, soaring Opec prices have meant soaring profits for the oil companies. LEONARD SILK NYT. THE RESULTS of rising oil prices emerging from the meeting
    NYT.  -  786 words
  • 849 7  -  FORUM J with SALMA KHALIK SNOBS HAVE been very much in the picture lately. First there were the Anglo Chinese School snobs, and now we have the five-room-flat snobs. It looks as though our Members of Parliament are launching a campaign
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  • Page 7 Advertisements
    • 342 7 How much do you see when you look at this etching? wj y r Hr'-' *+/M ft Think about it for a moment, then read the paragraph below, adapted from THE WORLD OF REMBRANDT. Rembrandt etched THE THREE TREES during a time when he was preoccupied with light and swirling
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  • Page 7 Miscellaneous
    • 29 7 NCX*i te.T's s&£. UJWPfT FprrneP HRS BROUGHT pf>e, *v\, n is -"Mc. BOLGING* spiUXXJCPvSC... OM.GOODN/ JUST LJHRT LCAMTeD... A BOUJUEfc. Hpcr. f\ BRiercPise.. \P> FOLDGO N€JuASPnPei? Qfidt' c*o*fc' GHO^C*
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 93 8 JUNK 12 Kr.s FORWARD MARKET Ant 327 7 1890 -5 AM ur 440 unrh Bravan 672 2 bru Lamb 1380 unch CMpM 1034 16 Oai 255 -5 IH- BMVS 274 1 ■fen 1900 -5 DfriraM *930 unrh (ib-lnno-Bm 2350 -40 Ge'. 12f*b 50 Hobok 2460 -190 VMM 5280 40
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      • 301 8 JUNE 12 Frs CORBEILLE Air-I.iquide Vi2 unch B S N Oervais I hi none 9fl0 5 C S F {Thomson Ctaf) jOU 5 l> Francai.ve des Petroles 252.50 -2 9 Compagnie h fcninfUw Compafnif Genera le 391 unch Credit Foncier l>e Francs 439 80xd -212 lliclww (Librairie) 244 1
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      • 221 8 JUNK 12 Dm AeK-Trlrfunken Akzo Allz L*l*n All/ Vers BASK 73 00b 21 TUB 935 00 384 00 145 20 -0 1 17 2 ♦08 Bay H T Whank ***** 4 5 Ba> Yhank 277 50B Iwr 125 00 12 BBC' 297 00B BMW 163 50 UNSelU ***** unch
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      • 236 8 J I" N V 12 Kls MM 2H6 50 -0 5 mm 67 on -0 5 Ak/o 24 00 unrh AMKV MM 04 Anifas 103 20 0.4 Anif Hank 6? 40 -05 Hw (joss 41 50 unrh H»*i k 9500 unrh li... 59 20 unrh Mat utnij 195 50
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      • 188 8 JUNE 12 Francs Actions Sui*ses 279 unch Alusuisse br 1175 -5 AIUNUl.s5ir K?K 450 Brown Boven Br 1695 -b C'iba (>eig) Br 1025 •10 Ciba (ifigy p C 805 -5 C'lba Gfify Reg 592 unch Credit Suisse Br 2170 OradM Suisse HPR 395 unc Kleklrowalt Br 2315 15 (ieorfe
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      • 109 8 JUNK 12 I .ire Ann 8 -02 Assor i»en ***** -340 629 30 i wMftt ***** -66S Y lut 1752 112 Mnsider 65 -1 75 Gfii Imruob 64 -0 75 IH 1'ri 2605 235 HtfCMMNI 1 hi •500 ItjiH.is 779 47 1' I M xa unrh Magnet i M
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      • 210 8 JL'Nr 12 it Ahitihi Alran 19 32 unch MpM 31 ii.tr k MOM 27 Bank Nova Scot 1,1 30 Brll Trt 2D Beth Corp BP I an Lid h- Ml 43 27 unch lamp Red Lakf 48 2'. an Imp Bk 27 i'anpftc 42* Catipar Inv Pf lading O
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      • 306 8 JINK 12 Hand INDUSTRIALS A Alpha 320B unch Mmoi 293 unch AK And C I 765 -10 AMIC 2325 25 Burloko rrs •10 Cg Sugar II20B CNA 470B unch luirir Kinanrr 196 3 Bfrr- Ind 2650 -25 MBW 530 10 Kdtarv 6500B -50 Kvrrrady f'rd Volk 405 unch fugil
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  • Page 8 Advertisements
    • 741 8 See Page 4 for Tokyo stocks and Page 9 for NYSE prices Where to wine, dine and entertain il&fii V -AS;i i- ::v: Noodles, mien or mee? It's the same. No matter what you call it. The difference is the way our chefs serve up to you. Whether it's fried,
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    • 263 8 The American Express Card serves you well wherever great food is served Welcome To apply for the American Express Card, call 2358 133. APOLLO SINGAPORE 405 HAVELOCK ROAD, S'PORE 3. TEL: *****1 CENTURY PARK SHERATON NASSIM HILL, S'PORE 10. TEL: *****77 HOTEL ASIA 37 SCOTTS RD S'PORE TEL: *****88 HOTEL
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  • BANKING AND FINANCE
    • 518 9 THE U.S. dollar yesterday continued on the downswing in the foreign exchange market as gold prices soared. From an opening of 2.1140/50 against the local unit, the US dollar plummeted to 2.1080/00 before lunchtime, in line with a weaker trend against the mark. But afternoon trading saw the
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    • 309 9 IN Singapore, gold futures closed sharply higher yesterday compared with overnight levels in light trading, dealers said. The morning market firmed around US$l2 an ounce on shewn-covering interest following news of the onepoint cut in the US discount rate to 11 per cent. The afternoon market rose another US$4
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    • 176 9 ASIAN ASIAN currency deposit Interbank rates as at close on June 13: cSM"12P 7 days 89/16 87/16 1 month 813/16 811/16 2 months 813/16 811/16 3 months 813/16 811/16 8 months 8 15/16 813/16 S months 8 15/16 813/16 12 months 815/16 813/16 Sw-fn. Dm. ISt 1 month M Mult
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    • 46 9 RANGE of price* offered by discount houses on June 13: Overnight: 6H -615/18% Call deposits: «V. t%% Closisc Bnjisf Selliu 3-month Treasury bills 015/18 813/16 3 month Bank bills 10M 10'* 3 months CD 9Vi OH 6 months CD 9H 9"» Source: National Discount Co
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    • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their beat customers is 11.9 per cent.
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    • 64 9 RESULTS of tender held on June 13 for 91/182-day Treasury bills issued from June 16 to 20 are: Offered: 550,000,000 520,000,000 Applied for: $203,660,000/ $112,000,00 Allotted: 550,000,000/520,000,000 Aeeepted Mia: $98.30 and approximately 59 per cent; higher bids in full. For 182-day bills accepted bids were $96.65 and
      64 words
    • 121 9 THE U.S. dollar for overnight delivery closed at 215.55 yen yesterday, slightly up from a 215.30 opening but sharply down from 218.20 at Thursday's close, after strong central bank dollar-support intervention, dealers said. Trading was active and heavy, with volume US$l.3l billion. The Bank of Japan bought an estimated
      121 words
    • 285 9 THE U.S dollar opened slightly above its lows yesterday after weakening sharply on news late Thursday that the US Federal Reserve Board had cut discount rate to 11 per cent from 13 per cent and a forecast by Salomon Brothers economist Henry Kaufman that US interest rates would continue
      285 words
    • 153 9 THE U.S. dollar recovered slightly yesterday from the opening on news of Bank of Japan's dollar-support intervention, but it was still below Thursday's New York close, dealers said. The announcement of a one per cent cut in the US discount rate and the prediction by Salomon Brothers partner Henry
      153 words
    • 438 9 BONDS LOANS A STATE-GUARANTEED massive Eurobond issue has been launched by the French Electrcity Council, the EHectricite de France The eight-year US$l25 million bond carries a coupon of 10 per cent per annum, with prepayment after four years, at a premium of 101 Vi per cent, declining annually by H
      438 words
    • 192 9 BANK OF America has expanded its Jurong agency to a full branch to provide a full range of banking services in the Jurong area. The branch now offers a credit and forex facility in addition to the existing cash, remittance, export negotiation and current account
      192 words
    • 122 9 UK PRIME Minister Margaret Thatcher said the British government will cut interest rates when it is confident this will be consistent with the money supply staying on target. "The latest banking figures may on the face of it look disappointing, but they follow several months
      122 words
    • 1309 9 NEW YORK THE OIL GROUP succumbed to profittaking and led the New York stock market on Thursday lower in heavy trading. However, precious metal and gaming shares advanced. Analysts said the market was due for a rest after its nearly two-month rally on falling interest
      1,309 words
    • 496 9 Reuter SOUTH KOREA must continue borrowing internationally but will be unable to do so if interest charged on commercial loans surpasses London interbank offered rate phis one per cent. Korean Assistant Minister for Economic Cooperation, Hwa June Tchah, said at the signing of a U5563.75
      Reuter  -  496 words
    • 165 9 Reuter SEVERAL major US banks cut their prime lending rate by half a percentage point to 12.5 per cent on Thursday, continuing a steady decline in the key interest rate. Citibank, the second largest American bank, trimmed its prime lending rate to 12.5 per cent
      Reuter  -  165 words
    • 430 9 PERSISTENT gaps in interest rates between Eurodollar and domestic markets have led US banks to lend in Eurodollars billions of dollars they are raising domestically. Consequently, domestic certificate of deposit issues continue to run at very high levels despite a sharp fall in domestic loan
      430 words
  • Page 9 Advertisements
    • 59 9 This announcement appears as a matter of record only. May 1980 P.T. BITRATEX INDUSTRIAL CORPORATION US $10,*****0 LOANS Managed by: State Bank of India American Express Bank Singapore Branch International Group Provided by: State Bank of India Singapore Branch United Commercial Bank American Express International Banking Corporation Indian Bank Development
      59 words

  • 1744 10 BID and offer prices officially listed and business in and reported to the Stock Exchange .of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. BECTION ONE INDUSTRIAL A COMMERCIAL Acta a
    1,744 words
  • 156 10 HNGATOBB UNIT 1BUR mwiontimj (Mi—jwi' frtaw krtaM) (MMflfr prim hrtaW The Commerce ut rated Union Spore Fund L04 LM The Saving* Fund l.tt L7C income boni 0 UNIT In) 1.30 S'pore Prog Fund 1.24 1-30 (CteTMtpri Income Boad If ABA HTlfn S pore Sec. Fund 2.09 2Jt L*
    156 words
  • 2842 10 Gr'. Gr's Net 1980 Last Div Div Ynd P/E Vol Day High Low Company Sale or- Cvr (*000) High Low SECTION ONE INDUSTRIAL COMMERCIAL 370 245 Acma 330 -2 15.0 25 45 13.0 70 334 330 223 220 Alcom 223 12.0 25 55 12.6 149 116 Allied
    2,842 words
  • 1968 10 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number oI shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. INDUBRIALB AJMMta (3.2t5) AIM (1198 13QS) (1) 122 (2) 118 (3) 130
    1,968 words
  • 693 10 PROFIT-TAKERS pat the pressure m share prlees mast sf the day at the Singapore stack market yestenhty M the late mtterm—m sesstaa saw kayers retaralag with renewed vigsar ts restare prices ta everalgkt levels at least. As skserver anted that traasaettsas at the lewer prlees were
    693 words
  • 407 10 PROFIT-TAKING ahead of the weekend forced prices to an easier close at the Kuala Lumpur stock market yesterday. But losses were generally light, thanks to good support at the lower levels. Most counters finished off their day's lows. The New Straits Times industrial ordinary share index,
    407 words
  • LATEST RESULTS
    • 50 10 has reported pre-tax profit for the half-year ended March 31, 1980 of M 532.35 million as against $27.71 million for the previous period, on turnover of $299.40 million ($260.99 million). The directors have recommended an interim dividend of 12 cents gross per 78-cent share (10 cents previously). a
      50 words
    • 61 10 has reported group pre-tax profit for the year ended March 31,1980 of M 58.19 million as against $5.55 million the year before. The directors have declared a second interim dividend of 15 per cent, which together with the first interim dividend of 10 per cent, makes
      61 words
    • 62 10 has re- ported pre-tax profit (or the year ended Dec 31, 1979 of MJ738.374 as compared with 1697,558 the previous year on turnover of $2.19 million ($1.92 million). The directors are recommending a final dividend of 25 per cent, which together with the interim dividend of 11 per
      62 words

  • COMPANY NEWS
    • 535 11  -  By LOW LEE CHOO MWE HOLDINGS appears to be still bogged down by teething problems arising from its rapid expansion and diversification programmes last year. This is the current outlook for the Province Wellesleybased company despite encouraging demand for its textile products. MWE chairman Dato K
      535 words
    • 174 11 DATUK Keramat Holdings Berhad is not contemplating giving a bonus issue yet, chairman Tan Sri Datuk Hamzah Sendut said on Thursday in Penang. Answering queries from shareholders at the company's annual meeting at Birch House, Tan Sri Hamzah said DKH had been advised against a
      174 words
    • 507 11  -  By STEVEN TAN TAN CHONG Motors has strengthened analysts' views that group profit will continue to grow in the current year. But margins may be eroded by the recent reduction in retail prices of its vehicles and rising import costs. Chairman Dato Tan Yuet Foh
      507 words
    • 62 11 CENTRAL Securities (Holdings) Bhd said it recently disposed of its holdings of 1.09 million shares in Perak Carbide Corp Bhd for MJ914.718 against the net book value of 1606,220. With this disposal, on the open market, Central Securities has now completely divested its investment in Perak Carbide.
      62 words
    • 716 11 Current Ex Books Date Total for Total for Payment Date Cloae Payable the year Previous year Genting* 10% May 5 May 15 Jun 14 15% 12.5% Alcom 7% May 15 May 27 Jun 16 12% 10% Bouatead 15% May 19 May 30 Jun 16 25% 25% C K
      716 words
    • 161 11 Particulars Ex Date Books Cloae L td Plant Bonus Issue of 1 for Magnum Corp 10 May 27 Jun9 Bonus Issue of 1 for 2 Jun 6 Jun 18 Matauahita Bonus Issue of 1 for 4 Jun 11 Jun 21 Sim Lim Rights Issue of 2 for 3
      161 words
    • 219 11 PEGI Malaysia's investment in quoted securities has apparently helped lift group earnings for the year ended Dec 31, 1979. Group unaudited pre-tax profit for the period increased more than two-fold to 1491,755 from 5152,000, probably as a result of income obtained from investments made in 1978.
      219 words
    • 181 11 HIGHER output of tin concentrates in line with forecasts, and better prices fetched have boosted midterm earnings at Petaling Tin. Preliminary estimated trading profit for the six months to April 30, 1980 was 513.4 million, up 33.2 per cent from the 510.06 million for the previous corresponding period.
      181 words
    • 186 11 LABUT Tla Fields is still actively looking late the possibility sf rrsUrttig mlalag operations by Its subsidiary Syarikat Hasill, according to chairman Slew Mm Cbee la bis aaaaal report. This renld be dene threagh securing leases. Falling this, Mr Slew says a decision will thea he made to
      186 words
    • Article, Illustration
      513 11 STCXSCL- HOCK LOCK SIEW MARKET watchers who have had Malayan Credit (MCL) close in their sights over the past year would not be too far wrong if they decide now to describe it as a "family" company. No less than four families have already graced the company with
      HOCK LOCK SIEW  -  513 words
    • 204 11 TIMES PaMteklag group has acquired 5.50 million shares in Marshall Cavendish, at a total cost of £1.43 million, representing 27 per cent of its issued ordinary share capital. Marshall Cavendish is a leading publisher of partworks and books, doing business in Britain, Europe, the United States and other
      204 words
    • 189 11 Date Last Fall Yea r Company Perted Announced Net EPS Grass Pre-tax last year (e«rt») rwv. Profit <%> (W) A Choc F 17/4 9.7 3.0TE 2,413 K G Hold F 21/5 25.8 15.0 2,922 Lien Hoe F 25/5 13.8 13.5 3,400 Mentakab Rub F 30/5 26.8 32.0 698
      189 words
  • Page 11 Advertisements
    • 413 11 GOULDS PUMPS (ASIA) PRIV ATE LIMITED (In VtloiUr}' Uq nidation) NOTICE OF FINAL MEETING NOTICE IS HEREBY GIVEN, pursuant to Section 272 of the Companies Act, Cap. 185, that the Final Meeting of the Company will be held at 11th Floor, Shing Kwan House, 4 Shenton Way. Singapore 0106 on
      413 words
    • 135 11 V Malaysian Tobacco Company Berhad COMPANY ANNOUNCEMENT The Board of Directors are pleased to announce the results for the first half year to 31st March 1980:RESULTS; Turnover (gross) Net Profit before To* (unaudited) Estimated Taxation Estimated Profit after Tax 1980 S'OOOS 259,398 32,354 15,504 16,850 1979 S'OOOS 260,989 27,712 13,022
      135 words

  • 447 12  -  By MANO SABNANI THE CITY of London Takeover Panel has sharply criticised Mr Jim Raper, the central personality in the controversy over the Saint Piran tin mining and property group of which he was formerly the chairman. The panel had earlier ruled that Mr
    447 words
  • 159 12 MALAYSIAN Plantations Bhd (MPB) has proposed an issue of 9.18 million shares to bumiputra investors at M 51.60 per share or at some other price approved by the Malaysian Capital Issues Committee (CIC). It has already made an application to the CIC. In an announcement yesterday,
    159 words
  • 823 12 LONDON, Fri. The market ended the account on a Arm note, dealers said. At 3pm, the FT index was up 4.1 at 452.6. Government bonds showed mixed movements after a moderately active session. Shorts added around 3/16 point while longs were up to 3/8 point higher, with sentiment
    823 words
  • 326 12 AP GUARDSMEN in Iran fired on tens of thousands of leftists on Thursday in one of the bloodiest clashes since the Shah was ousted 17 months ago. The official Pars news agency said "shots fired in the air" during the fighting left two dead and 10
    AP; Source: AP photo  -  326 words
  • 233 12 Reuter THE Thai Commerce Ministry has protested to a Singapore company for the alleged resale to Iran of rice bought from Thailand on a government-to-gov-ernment basis, a Thai ministry try official said in Bangkok yesterday. The protest was lodged with Intraco, a public-list-ed
    Reuter  -  233 words
  • 159 12 THE ANNUAL inflation rate in Britain has risen again, reaching 21.9 per cent at the end of last month, according to government statistics published yesterday. Prime Minister Margaret Thatcher's Conservative government simultaneously announced moves for more cuts in spending by town halls
    159 words
  • 239 12 ASEAN bankers are scheduled to meet in Manila next month to finalisp proposals for the settingup of an Asean-owned financial institution. The institution will be known as the Asean Finance Corporation (AFC). Singapore will send a 13member delegation to the meeting headed
    239 words
  • 379 12 AP RELIEF organisations were preparing supplies yesterday for the first wave of Kampuchean refugees scheduled to return from Thailand to their homeland on Monday. The Thai government and the United Nations High Commissioner for Refugees announced that voluntary repatriations from among the 170,000 Kampucheans
    AP  -  379 words
  • Page 12 Advertisements
    • 124 12 OPPORTUNITY TO INVEST IN WORLD'S FIRST FLOATING HOTEL A Sri Lankan Company Ceylodge which has full government approvals, riverside space allocated in a tax free zone, five years tax free holiday, is setting up a first class 320 room floating hotel which will be built in Singapore by a major
      124 words
    • 2 12 Leader ...page <
      2 words
    • 351 12 The LIFE Library Of Photography ft h A f S it V helps you to see great picture possibilities JIS a around you... The Life Library Of Photography Each volume measures 10'/< fO'A inches (26 x 26 cm). Hard cover, silver stamped black cloth binding. 240 pages. Approximately 300 illustrations,
      351 words
  • Page 12 Miscellaneous
    • 67 12 W|M E R j Outlook for Singapore from 6 a.m. to 1 p.m. today: Showers in several areas from late morning. Report for Zf hoars prior to 7J p.m. oo June IS the airport Maximum temperature 32.3 Associated humidity 63 Minimum temperature 26.0 Associated humidity 98 Hours of sunshine 7.45
      67 words

  • LEISURE TIMES
    • 195 13 Top left: Sprinkling of black prints on Paulise's white blouse ($99). Straight sleeves, with eravatted neckline. Jacquard black skirt that's slighUy gathered ($95). Ronald wears a navy blue printed shirt ($101). Top centre: Striking shirt dress in bold checks Sitting pretty is Pauline in a stark white three-piece.
      Photos: Gian Bee Yoon  -  195 words
    • 661 13  -  By NG LOKE KOON THE BRITISH are an amazing lot. Either they are unaware of what is happening in the world around them. Or they love to have pain inflicted upon them. In other words, they are very difficult to understand. And you may become
      661 words
    • 234 13 WEEKEID GOURMET MOST of as tend to take our fatten for granted. Dad is the one who makes everthing possible bat hew easy It is to forget his love, strength and guidance. Temerrew is Father's Day. Shew him yen eare and that you're grateful
      234 words
    • 466 13  -  By PETER WONG SILK IS in town! WHO? Never heard of! But this will not be the case in a few month's time because the SILK is an entertaining American duo who has just cut a single "England's Children". This song, composed by the SILK, will
      466 words
    • Article, Illustration
      83 14 FROM THE HORSE'S MOUTH FOR THOSE readers and race-goers fortunate enough to be In KL for the weekend Hyperion has good news for the King's Cap tomorrow. The longstriding PAS LA BOND is in great form after his tone-up in the trial last week and could finish a
      83 words
    • 811 14  -  By CHARMAINE CHAN HONGKONG Bank and SIA justified their automatic qualification for this year's Anchor Business Houses Squash League after thrashing their opponents 50 in the first week of competition. Philips Club 66 and Turquands were the first two teams to be
      811 words
    • 289 14 GOLFERS with a couple of weeks leave due to them from work may consider a quick trip to Spain, put firmly on the golfing map in recent years by the irrepressible Severiano Ballestiras. British Airways has a likely looking package that combines
      289 words
    • 82 14 SOCCER violence has come to China too. Fourteen young men were detained for up to 10 days or fined after spitting and throwing fruit peels and bits of glass at Chinese and British players after matches on May 15 and 21. The British players were from Norwich. During
      82 words
    • 528 14 GOLF: The prize of a Volvo 244 hasn't been won as yet. It is the acknowledgement of a hole-in-one feat which any golfer may achieve during the Jurong Open 'A', 'B' and 'C' divisions. Last week, none of the competitors in the 'C' division managed to drive
      528 words
    • 863 14  -  Caution is the key word, warns RONALD KOW on tonight's match between Singapore and Pahang on the first leg of the Malaysia Cup's semi-finals. Singapore cannot look back on its seemingly superior record against Pahang. mm RONALD KOW WHATEVER ill feelings you may have
      863 words
    • 1148 14 ■OTORIIB Hermes STATIONWAGONS have always been a different breed of car altogether. They are never looked upon as something that could be aesthetically pleasing, and people buy them for the sole purpose of carting fish to the market, delivery of newspapers and other such mundane
      Hermes  -  1,148 words
  • Page 13 Advertisements
    • 87 13 4RAKIKK Raid Corporation For all types or Culinary (Oriental Rakl Corporation Tct: *****4/*****4 ®rOUI*d. Tctcx: RS ***** A/B RAKicofi rubbed, herb*. C<Mc: "RAKICORP" seeds.root*. spices r*a<»« pulses. Marsilina Industrial Estate Malaysia Tel: ***** Manufacturer, CaMc: "RAKICORP" Johore Bahru miller and stockist*. Stationwagon dream Hermes gives Lancia HPE a high rating
      87 words
    • 0 13 "[_+`[_/@(}@>($>^$\:[@<^^&)?*/~
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  • Page 13 Miscellaneous
    • 735 13 WHAT WHERE RECITAL VOCAL recital by Jeaan Grill* on June 21. The mezzo-soprano will be accompanied by Cheang Man Chit on the piano. At 8.30pm, Singapore Conference Hall. Tickets at $15, $10, $8, $5 and $3 from C K Tang, Cold Storage and National Theatre. Presented by National Theatre Trust.
      735 words

  • Page 14 Advertisements
    • 221 14 ANCHOR BUSINESS HOUSES SQUASH LEAGUE 1980 FIXTURES Venue: Singapore Squash Centre, Fort Canning Rise Date t fiat Sat kiK 14 4— 7 pm Sun June 15 4— 7 pm Mot June 16 7—lo pm Wed June 18 7-10 pm Court No.S Govt Nt.7 P Jlaterhouse vs AIA S Times EJectrokn
      221 words