The Business Times, 28 June 1980
1980-06-28
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The Business Times
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Title Section11 1980-06-28 1 BUSINESS TIMES M.qp) No. Ut/l/St SATURDAY, JUNE 28, 1*8« 50 CENTS11 words
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BRIEFLY...
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Article41 1980-06-28 1 THE GOVERN\fENT has raised the import duty on stout and porter by 50 per cent from $26 to $39 a decalitre. Singapore imported 64,127 litres of stout worth $114,000 from Malaysia and the United Kingdom in January.41 words
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Article67 1980-06-28 1 AP NEW YORK, Fri. Citibank, the second-largest US commercial bank, has reduced its prime lending rate to 11.5 per cent from 12 per cent. The move reflects lower costs of acquiring funds for lending and sagging demand for business loans. The move follows that ofAP - 67 words
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Article60 1980-06-28 1 AFP JAKARTA, Fri. The Indonesian Government has requested West German investors to open up rice estates in Indonesia to help the country raise its food production. Deputy Minister of Food Achmad Affandi told the German businessmen present at a dinner that the government itself was not planning toAFP - 60 words
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Article88 1980-06-28 1 Reuter SYDNEY, Fri. Journalists employed by the National News Agency, the Australian Associated Press (AAP), today walked out in protest against the company's refusal to back date a recent pay award. Union sources said the strike would last until mid-night Sunday and be followed by a meetingReuter - 88 words
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Article67 1980-06-28 1 Reuter MADRID, Fri. Basque separatist beach bombers today struck at Spain's key Mediterranean tourist trade for the fifth time this week amid signs of a growing right-wing backlash in the Basque country itself. Nobody was injured in the latest explosion set off just before dawn by theReuter - 67 words
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Article66 1980-06-28 1 Reuter BE i Construction of what is billed as Beijing s first international standard hotel got underway today with a ground-breaking ceremony on the eastern outskirts of the Chinese capital. The US$2O million hotel, to be built and managed jointly by the China International Travel Service andReuter - 66 words
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Article72 1980-06-28 1 AP NEW YORK, Fri. The stock market declined broadly and declines outnumbered advances by a 2 tO 1 margin in the early tally of New York Stock Exchange-listed issues. 9 J 1 8 3 ones avera ge of 30 industrials fell d.84 to 879.61 in the first hour.AP - 72 words
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Article134 1980-06-28 1 Rises Kamunting Tin 480 64 M Banking 1170 60 Strait* Trading 1400 50 O C B C 1020 45 M U I 1120 40 C Sugars 705 35 Public Textile 211 21 Berjuntai 1100 20 Magnum Corpn 965 20 Sel Properties 900 20 Falls Sel Coconuts 310134 words
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Article, Illustration137 1980-06-28 1 Rises Indices O.C.B.C. 1050 70 Jun 26 Jun 27 *****.*****46.24 637.04 642.31 877.62 898.37 379.23 379.42 437.58 442.68 Kamunting Malayan Tin M. Banking S. Trading U. Cables PMC. 480 3850 1170 1420 464 896 52 50 40 40 32 25 20 20 B.T. Index: Industrials: Finance: Hotels: Properties:137 words
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574 1980-06-28 1 WANG LOOK KEAH - RESORT ISLAND SETBACK By WANG LOOK KEAH I THE SENTOSA Development Corporation (SIX!) has shelved indefinitely its plans to build a resort hotel on Sentosa island, casting doubts on when the Government can turn Sentosa into a holiday resort. This follows the unsuccessful offer574 words
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Article262 1980-06-28 1 THE SINGAPORE Manufacturers' Association (SMA) has stepped up its "matchmaking" scheme for members. Under this joint-venture scheme, members interested in joint ventures may have their interests recorded and tabulated for matching with foreign or local manufacturers. Disclosing this, Mr Michael Yeo, chairman of SMA, also called262 words
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Article, Illustration901 1980-06-28 1 SALMA KHALIK - By SALMA KHALIK ASEAN countries will put strong pressure on the United States, Japan, Canada, Australia and New Zealand to support Hs stand at the United Nations to keep the Pol Pot government as the official Kampuchean representative. Sources901 words
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Article331 1980-06-28 1 THE international role of the Singapore dollar should be limited to short-term financing. Director and general manager of Overseas Union Bank, Mr Hsuan Owyang, said at the Asean Trade Seminar yesterday that it is unavoidable that the Singapore dollar will continue to be used from time331 words
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306 1980-06-28 1 APRIL wu a lew exdtiag nwitk fer the Singapore tourist Industry u the aamber af overseas visitors increased by aaly 11.7 per eeat tram the same meath last year. The eerrespeadlßg rate af grawth in March was a hefty 1C per306 words
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486 1980-06-28 1 THE Minister for Labour, Mr Ong Pang Boon, has hinted that the Government may consider extending more fiscal incentives to employers to motivate them to upgrade their operations. He also assured investors that next year will be the last year of high wage increases486 words
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Page 1 Advertisements
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Advertisement26 1980-06-28 1 A helping hand when you need it most W v- (Htfj Mayfoong Mortgage And Firvaocc (S) Ltd. J Ground floor Sha* House, Singaporeo923 Tel: *****77 226 words
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Advertisement134 1980-06-28 1 3*. The great MacGregor woods of the 50's are back again! Reason: The king-pint of the game want them back. {A To u may Cuaiom International Mod* Today. the MacGregor's hMd modal is a trua reproduction of tha great MacGregor woods of tha 50's. E«ch club head it specially made134 words
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Advertisement64 1980-06-28 1 am LEISURE TIMES POLYTECHNIC plans to groom SIGMA benefits from construcpromlsing, young officers 2 tion boom 11 PRICE increases will dampen RECORD foreign investment in Manila economy j Tokys stocks 12 THE MAN who may know too LONDON gold jumps to more much fi than US$639 ZL 12 AIRCRAFT J,64 words
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Advertisement66 1980-06-28 1 The MINOLTA EP 310 PPC does it all. Well renowned French wine ■n Only for those who know about wine. Btaujolais from Calvet. A rich red ume that is impeccably mellow. And a compliment to any dtning affair Calvet'• From the finest vineyards of ALVET Ibi' ?ALVET auiol* T*- 4UXXCAO66 words
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TRADE AND INDUSTRY
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Article506 1980-06-28 2 SEMINARS AND COURSES July 3-4: Job Evaluation, Shangri-La, Price Waterhouse July 7-8: Business Law n, Hilton Hotel, Consulasia July 10-11: Mini-Computer Applications Seminar, Hilton Hotel (Japan Room); Medora, Tong, Chow AssociatesTouche Ross International July 12: Industrial Relations Workshop, P.O.D Training Centre, P.O.D. July 15-16: Successful Selection Applications of506 words
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584 1980-06-28 2 THE Singapore Polytechnic will be reorganised to allow promising, young officers with leadership qualities to get exposure, and heads of departments to be exposed to the functions of the Principal when he is away. Dr Ahmad Mattar, Minister in charge of Ngee Ann Technical584 words
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172 1980-06-28 2 LEE ONN, a Singapore jewellery company, has come up with a range erf gold settings for opal stones. They will be exhibited at the Asean Trade Fair in Melbourne in August. Also on display will be gold rings and pendants set with172 words
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Article499 1980-06-28 2 THE use of cheaper energy sources and development of new technologies are two important tasks Asean cement manufacturers should take up immediately. This will enable the industry to meet growing demand in Asean and other countries competitively "in this age of high energy costs",499 words
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321 1980-06-28 2 SHELL'S hydrocracker project, now under construction at Pulau Bukom, will cost $400 million a onefifth increase over the original estimate of $330 million. The new project cost was disclosed by Shell chairman Richard Hu, at the official opening of the company's diala and turbo321 words
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Article188 1980-06-28 2 Bernama SARAWAK will supply logs to .ferdan when the timber processing centre at Aqaba is ready. The logs from Sarawak would be processed into wood products and distributed to the West Asian and East African markets, a joint statement by the Jordanian Minister ofBernama - 188 words
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Article, Illustration206 1980-06-28 2 MS DAVID Brtwi has been appointed as general manager, manufacturing divisions, Cold Storage Manufacturing Pte Ltd. Mr Brown who joined the Cold Storage Group in 1979 as controller, dairy division, will be responsible for the total profitability and performance of the group's manufacturing operations in Singapore. Mr206 words
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Article, Illustration466 1980-06-28 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Builder (1200) 22 Benamas (1830 hauls 38m East) 8/9 Dong Bee (after Ha Ping Group I on board) 40/41 Golden Eagle (0600) 27 Heinrich Arnald Schulte (1100 hauls after Riheng shifts) 46 King Dragon (0600 after Cerro Grande) 23 Kota Bali (Passenger)466 words
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447 1980-06-28 2 RICHARD SEAH - By RICHARD SEAH CHINA'S foreign trade will continue to expand as its policy shifts from emphasis on ideology to pragmatism, and the Asean countries will benefit from this. Speaking at the Asean Trade Seminar, Professor Lee Sheng-Yi, head of Nanyang University's Department447 words
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168 1980-06-28 2 SINGAPORE'S first international audio and visual equipment exhibition will open at World Trade Centre next Wednesday. AUVI '80, to be held from July 2-6, is expected to draw more than 120,000 visitors. The organisers, Scope International and International Business Centre, said response to the show168 words
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Page 2 Advertisements
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Advertisement157 1980-06-28 2 The Secrets of 1,? ,y Oriental Breathing for 3\u<h(T Health and Longevity What is Ch'i? this power that can rehabilitate failing health and recharge the human spirit, arrest illness and keep disease at bay? Can Chi really prolong vigorous life, regain lost years? Where did it come from? How can157 words
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REGIONAL
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201 1980-06-28 3 Reuter JAPAN had a revised overall balance of payments deficit of US$247 million in May, down from a preliminary estimate of $250 million, the Finance Ministry said yesterday. The revised figure narrowed sharply from a record $5.38 billion deficit in April and aReuter - 201 words
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161 1980-06-28 3 AFP WEST German Economics Minister Otto Graf Lambsdorff has given an indirect warning against rising Japanese car imports to his country. He made the warning during his talks with Japanese International Trade and Industry Minister Yoshitake Sasaki in Venice last Saturday who wasAFP - 161 words
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Article122 1980-06-28 3 AFP THE INDIAN Foreign Minister, Mr Narasimha Rao, has cancelled his proposed five-day visit to Kuala Lumpur, a foreign ministry spokesman said in New Delhi. He said Mr Rao had to cancel the visit because his mother is seriously ill. Mr Rao was to haveAFP - 122 words
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139 1980-06-28 3 UPI AUSTRALIA has pleaded for more time to solve its trade problems with the Association of South-east Asian Nations. Asean has complained about Australian protectionist trade policies creating a trade imbalance in favour of Australia. After the 13th Asean foreign ministers meeting of WednesdayUPI - 139 words
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101 1980-06-28 3 AFP TAIWANESE exports to the five Association of Southeast Asian Nations (Asean) last amounted to U551,330 million, compared with $1,001.7 million previously, according to customs statistics. Taiwanese imports from the five nations last year totalled $1,053 million, an increase of $312 million over theAFP - 101 words
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Article817 1980-06-28 3 ARRIVALS Service Local Operator Number Time From MAS MH601 0700 KUL FT FT75 0710 JFK/ORD ANC TPE SIA BA SQBA17 0715 LHR BAH SIA SQ101 0815 KUL MAS MH621 0635 PEN MAS MH671 0930 PEN KUL MAS MH605 1000 KUL SIA SQ211 1000 HLP CAL CI814 1000817 words
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525 1980-06-28 3 Business Day PRICE increases will dampen consumer demand and slacken industrial activities in the Philippines this year. Describing the outlook as not very favourable, a study by Private Development Corporation of the Philippines says most businesses will see lower profits this year. Industries producingBusiness Day - 525 words
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THE REGION IN BRIEF
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Article555 1980-06-28 3 JAPAN extended U552.63 billion in official development aid to developing countries last year, up 19.1 per cent over the previous year. The amount accounted for 0.26 per cent of the nation's gross national product, also up from the previous year's ratio of 0.23 per cent. A555 words
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Page 3 Advertisements
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Advertisement235 1980-06-28 3 It's just good business to take the fastest way to the U.S. A. Every day at 7.00 a.m.. Pan Am's Flight No. 6, a 7475P, m leaves Singapore, stops briefly in J Hong Kong and continues nonstop to San Francisco. That's the fastest way to Hong Kong or San Francisco.235 words
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RAW MATERIALS
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Article265 1980-06-28 4 STEADIER conditions were experienced in more active trading, taking levels up 10 cents before profit-taking and lack of physical follow through took the market off best, said the weekly review of the Malaysian and Singapore rubber market by Holiday, Cutler and Bath. After holding around the265 words
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Article124 1980-06-28 4 THE Chicago Board of Trade soybean futures ended US2 to 4 "2 cents a bushel lower on Thursday, near the bottom of a 6 Vi cent range. Local profit-taking and evening up erased about half of Wednesday's technical advance. Commercial selling and picked up country movement accelerated the decline.124 words
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Article206 1980-06-28 4 THE Chicago Board of Trade wheat futures ended USB 1 2 to 6V2 cents a bushel lower in active trade on Thursday. Prices settled near the bottom of a nine cent range. Local evening up ahead of yesterday's crop report forced prices to day's lows. Winter wheat harvesting progress206 words
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Article264 1980-06-28 4 IN Singapore, the market closed slightly lower with July One RSS buyers quoted at 290.50 cents per kilo, down 3.50 cents from Thursday's close, dealers said. Morning prices were marked down slightly on stale bull releases and upcountry selling, they said. Afternoon prices fluctuated narrowly around lunchtime levels until264 words
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Article367 1980-06-28 4 R.A.S. prices In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f o b. 290.00 291 OON Int. 1 R.S.S. July 291 00 291.50 Int. 1 R.S.S. August 291 00 291 50 Int. 2 R.S.S. 283 50 284.50N UK/Cont 282.50 283.50N Int. 3R.S.S.367 words
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Article113 1980-06-28 4 NOON SSRu kd SMR tnces yesterday RAS July August (Current Mthl (Forward Mtk) Buyer* Sellers Bayers Sellers SSR 20 (1-ton pallet) 267 00 269 00N 268 00 BUM SSR SO (1-ton pallet) 264(10 266 00N 265 00 267 OON MRELB Jaly Augast SMRCV (1-ton pallet) 316.00 318.00N113 words
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Article88 1980-06-28 4 THE Straits tin price in Penang yesterday rose Ms 34 per picol to $2,184, $39 abo ve the International Tin Agreement ceiling, dealers said. The rise was attributed to a firmer London closing on Thursday night coupled with continued good demand from the US, Japan and Europe and88 words
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Article38 1980-06-28 4 Rubber June 27 Singapore: July: 290.50 cents (down 3.50 cents) Malaysia: July: 294.00 cents (down 2.00 cents) Tin: M$2,184 (up $34) (equivalent to $36.11 per kilo) (up 56 cents) Official offering: 215 tonnes (up 39Vi tonnes)38 words
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Article104 1980-06-28 4 PENINSULAR Malaysian rubber exports rose to 183,121 tonnes in January from 124,239 tonnes in December and 157,377 tonnes in January 1979, according to Malaysian Statistics Department figures. The export breakdown at end-January showed EEC countries took 48,149 tonnes against 33,963 in December, China 4,740 (5,750), Japan104 words
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Article193 1980-06-28 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Cattaa yara: China Blue Phoenix 20s 2.190; 32s 2,590, 40s 2,860 (per bale of 400 lbs). Piece gaads: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Rower and Butterfly193 words
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Article176 1980-06-28 4 CHINESE Pradaee Exchange, Singapore, clotting prices per lit kg yesterday: Cmmil «II: Bulk fob 137.00 sellers, old drum (in second hand drum) fob $147.00 sellers, new drum fob $153.00 sellers. Capra: Mixed (loose) $84.00 buyers. Pepper: Muntok white pepper fob Asta NLW $455.00 sellers, Sarawak white pepper faq176 words
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Article333 1980-06-28 4 SINGAPORE: Yesterdays closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.05, 100 per cent second class 0.90, 100 per cent third class 0.88, 25 per cent new crop 0.80, R-10 per cent 0.68. THAI BROKEN: A-super 0.63, Special no stock.333 words
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Article901 1980-06-28 4 COFFEE: Robusta futures turned very steady yesterday after initially opening lower in line with New York closing overnight. Dealers said business featured covering ahead of the weekend when cold weather could threaten Brazilian coffee regions. September climbed to a high of £1,616 from an early low of £1,585.901 words
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Article141 1980-06-28 4 IN Kuala Lumpur, the market fell on lack of interest yesterday despite Indian buying of refined bleached deodorised olein, dealers said. The State Trading Corporation bought refined olein at US$559 per tonne CIF for October shipment. Trading was concentrated in the central region with June easing MJ7.50 to141 words
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ASIAN STOCKS
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605 1980-06-28 4 TOKYO Source: DBS-Daiwa WITH a new month just round the corner, the market advanced further with interest on blue chips and speculatives. Most of the larger purchase orders were for the speculatives with a smaller capital of between Y3 billion to Y5 billion. BlueSource: DBS-Daiwa - 605 words
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Article322 1980-06-28 4 Source: SHK See ANOTHER seven year high was registered yesterday in heavy trading. Cash laden investors chased blue chips. It was Jardines' turn to shine with a HKSI gain to HK517.90 while HK Land gained cents and Hang Seng Bank HKSS to HKJI3O. There were no announce- ments ofSource: SHK See - 322 words
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Article317 1980-06-28 4 STOCKS were mixed with some profit-taking in evidence, dealers said. In gold miners Central Norseman closed AlO cents down after morning gains at $10.60, Kalgoorlie rose 30 to $8.30 and Valiant 20 to $1.80. Poseidon rose 15 cents to $4.00 while North Kalgoorlie eased 5 to $1.75, and Bouganville317 words
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Article150 1980-06-28 4 STOCKS closed generally firmer yesterday and turnover rose to seven million pesos from Thursday's four million, dealers said. Atlas Con B, Baguio Gold, Benguet Con B, Lepanto B, Surigao Con B, Philex B, Basic Petroleum, Pogei, Seafront, BF Goodrich, CDCP, Usiphil and Vulcan all gained, while Marsteel fell and150 words
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Article263 1980-06-28 4 STOCK prices closed mostly higher yesterday in quiet trading, dealers said. Bangkok Bank gained six baht to 302, Industrial and Finance Corp one to 120, Mah Boonkrong Drying and Silo one to 196 but United Flour Mill fell one to 192 baht. JUNE 27 Bahts a-i.i CMi 140 An;j263 words
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83 1980-06-28 4 AUSTRALIAN companies Atlantic Richfield, Unit Arco Australia Ltd, Moonie Oil Co Ltd and Unit International Oil Pte Ltd have agreed to a joint venture to explore and develop brown coal deposits. Each company will have an equal interest in the deposits at Gelliondale, Victoria, which83 words
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Article54 1980-06-28 4 FINANCIAL TIMES INDUSTRIALS Thursday 466 7 Wednesday 465 9 Week Ago 473.1 DOW JONES AVERAGE INDUSTRIALS Thursday 883.45 Wednesday 887.54 Week Ago 881.91 H.K.HANG SENG Friday 1041.43 Thursday 1026.89 Week Ago 987.96 SYDNEY INDUSTRIALS Friday 679.27 Thursday 678.75 Week Ago 809 29 ALL ORDINARIES Friday 898-84 Thursday 896.5754 words
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Page 4 Advertisements
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Advertisement259 1980-06-28 4 wm 4 'An opportunity is as real an ingredient in business as raw material, labour or finance but it only exists when you can see it' Everybody assumes that he or she is opportunity conscious but is frequently only conscious of the need to be opportunity conscious. For often what259 words
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OVERSEAS
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160 1980-06-28 5 Reuter OVER-CONSERVATIVE prudential banking ratios is the only reason for the failure of the international banking system to recycle Opec oil surpluses, Saudi Arabian Monetary Agency official, Mr Ahmed Abdulla tif, said. Mr Abdullatif, directorgeneral of the agency's foreign department, on Thursday toldReuter - 160 words
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213 1980-06-28 5 Reuter BRITISH Industry Secretary, Sir Keith Joseph, told Parliament that the government is not prepared to increase British Steel Corporation's (BSC) external financing limits until after its new chairman takes over. BSC had requested £400 million more for the financial year 1980/81. SirReuter - 213 words
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100 1980-06-28 5 Reuter ACTION by anlflntlMwl (ampules, International mcoiatlig firms and the Internatieaal teeiiitlig standards committee to improve standards af w—reporting Is called far in a ISM werid survey sf aaaaal reperts pa Wished by Flmmmclml Hums AMMH lufwmatfeoaf Laodaa. The repart says they shaaid agree anReuter - 100 words
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Article85 1980-06-28 5 Reuter THE US gross national product in the second quarter is likely to show a sharp decline of 8 or 9 per cent at an annual rate, predicted Charles Schultze, the chairman of the White House Council of Economic Advisers. He told a meetingReuter - 85 words
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349 1980-06-28 5 AP EGYPTIAN Vice-President Hosni Mubarak yesterday blasted Israeli Prime Minister Begin for creating obstacles to a Middle East peace settlement. Mr Mubarak delivered his resounding attack in an interview with the AJ Ahram newspaper. He also touched on the situation in Libya,AP - 349 words
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Article257 1980-06-28 5 THE proposed takeover of Rolls Royce by the Vickers engineering and armaments group announced on Wednesday may not go unchallenged, City of London sources said. Their theory was that a rival bidder may well step in in anticipation of some resistance from Rolls Royce shareholders to257 words
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237 1980-06-28 5 Reuter REPUBLICAN presidential contender Ronald Reagan thinks the prospect of a renewed arms race may force Moscow to bargain more seriously about limiting nuclear weapons, one of his chief advisers said in Washington. Mr Richard Allen said the US would have theReuter - 237 words
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199 1980-06-28 5 UPI ANGOLA has accused South Africa of launching a massive invasion into its southern border area using three infantry and two para troop battalions supported by armoured and motorised artillery units. Angolan Ambassador Elisio de Figueiredo told the council: "They have killed over 370UPI - 199 words
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WORLD IN BRIEF
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Article524 1980-06-28 5 NATIONAL Broadcasting Company of the US has filed a $78.3 million claim with Lloyd's of London to cover losses resulting from the company's decision not to televise the 1980 Moscow Olympic. The claim is believed to be the largest of its kind ever sought from an insurance company.524 words
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Page 5 Advertisements
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Advertisement844 1980-06-28 5 +_-@{[~@(~'\>}"=.&%>>//=+^/_\!' A Consolidated Balance Sheet-condensed-at 31st December 1979 -with comparative figures Assets Liabilities December 31, 1979 December 31,1978 December 31, 1979 December 31, 1978 DM DM (thousands) (thousands) Total Assets 121.298.564 111.001.845 Liabilities to banks payable on demand with original periods or periods of notice Liabilities to customers payable on844 words
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Article439 1980-06-28 6 IT HAS been many years since the government, first set out to make Sentosa Island a resort for tourists and Singaporeans. Millions of dollars have been spent on the project without producing significant results. Today, Sentosa is still used mainly by swimmers during weekends. It has439 words
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Article294 1980-06-28 6 IT IS unfortunate that fads should sometimes catch the imagination to such an extent that they overcome the good sense of even professionals. In the US, there has been an obsessive fear of secrecy. So, various crusaders have battled governments for greater disclosure. They have294 words
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Article, Illustration1942 1980-06-28 6 DAVID BELL; JOHN LLOYD - The total loss of privacy to a complete stranger with a computer at his fingertips may yet be an Orwellian fantasy. But with the increasing capacity of data banks, a failure to install legislative safeguards may just turn the fantasy into more thanFT - 1,942 words
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Page 6 Advertisements
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Advertisement204 1980-06-28 6 mHi O TO Why idle away your life and languish in poorly paid jobs with no future when you can move ahead with the RIGHT QUALIFICATION? Enrol now with FEDERAL PUBLICATIONS HOME STUDIES DIVISION for any of the following courses and get just THAT QUALIFICATION! Institute of Administrative Management Institute204 words
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Page 6 Miscellaneous
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Miscellaneous1444 1980-06-28 6 Grim side of war MASH hM beci takes «ff the programme becMM Unigkfa dm vie la gaiag to ke extra toag> LMks Uke we wwl be netag the fuiv ride «f war uleas mm aeeaea la The Blae MuflribyN. Nat likely. Bat evea If It lacks kamaar, He Blae Max1,444 words
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Article, Illustration713 1980-06-28 7 ARUN BHATTACHARJEE - By ARUN BHATTACHARJEE Depthnews IN TWO years, the members of Asean and Papua New Guinea are expected to join the space communications industry without having to invest heavily or adopt technological innovations. Indonesia, which became the first Asian country to own a domestic satellite system in 1976,Depthnews - 713 words
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Article866 1980-06-28 7 FLORA LEWIS - FOBUM With FLORA LEWIS NYT RONALD Reagan and his supporters are calling for a huge increase in the defence budget that would mean a new, virtually unlimited heat in the arms race. Their idea is not to achieve the protection that decisive Western military superiorityNYT - 866 words
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Page 7 Advertisements
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Advertisement1285 1980-06-28 7 ffi IJM BANKOFAMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET U.S. Dollar amounts in thousands) Assets Interest-earning deposits Investment securities Trading account securities December 31, 1979 1978 Total securities Other short-term investments Total loans Unearned income Reserve for possible loan losses Net loans Lease financing Other real1,285 words
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INTERNATIONAL STOCKS
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EUROPEAN MARKETS
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Article94 1980-06-28 8 JUNK 26 Krs FORWARD MARKET *cec 296 10 Arbrd 1755 -10 Astur 441 1 Brascun 678 16 Bru-Lamb 1424 4 t'jnpuc 998 unch Cock 238 unch L>p Br*»rs 262 -4 Kbes 1925 unch Electrobel 6090 *30 Ob-Inno-Bm 2400 60 G*v 1276 26 Hobo* 2660 >10 Pelro 5130 80 Ryl94 words
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Article272 1980-06-28 8 JUNE 26 Frs CORBEILLE Air-l.iauide 418 9 B S N Gervais Danone 1028 16 C S F (ThomsonC»l» 475.10 -29 Cie Francaise des Petrolrs 266 76 Compagnie Flnanclere Compagnie General* jan 5.5 Credit Foncier L)e France 435 8 Hachelte (Librairie) 249 Machines Bull 5810 0 9 Michelin (B) 803272 words
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Article215 1980-06-28 8 JUNE 26 Dm Aeg-T>lerunken 77 40 -0.6 Akzo 21 40 0.1 All/ Lfbfn ***** -30 Allz Vers 399 00 -25 BASK 147-20 -06 Bay H T Wbank 249B -1 Bay Vbiink 291 -3 Buyer 117 50 BBC ***** 2 BMW ***** -3.2 Casarlla 330 -5 t hem Ver» 286215 words
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Article208 1980-06-28 8 ,IU!SE 26 Fls ■\BN A IviM 63 10 -0.7 1MBLi 23 40 293 00 -02 -1 XSIEV 83 TOxd -25 Aiilfas ***** -13 Anirobnk 65.10 -0.1 IfcHfovi 44 40 0.4 Brrk 89.50 5720 -01 Boi^uinij 200 00 -2 Byrhinann 65 80 unch Bvenkorf 55 00 -1 Caliand Calv* Delft208 words
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Article111 1980-06-28 8 JUNE 26 Lire Anir 6 90 •4.15 Avsoc Gen ***** 450 .1 Bastof i 612 Central* ***** -175 Plat 1735 -56 Kinsider 69 unch Gen linmob TO -1 75 IH Pn 3178 138 luicpmfnu ***** 200 I taigas 845 -5 ltalsider 322 •I Magnfti M Pf 490 9 Marelli111 words
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Article211 1980-06-28 8 JUNK 3b CI ADilibi It A.i jD 31 i MPM 32 Bank Mont 27 unrh Bank Nova Scotia 30 unrh BrII Tel 20 .i, Beth Corp BP Can Lid 44 Brasran 26 Caiup Red Lake S3 1 Can Imp Bk 26 Canpar 40 Can par lnv PI Carling O'Keete211 words
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Article323 1980-06-28 8 JUNE 26 Rand INDUSTRIALS A Alpha 345 5 Abrrcom 315 17 At And CI 785 5 AM1C 2425 unch Barlows 1060 25 t'g Sugar 1060 10 CNA 460 unch Currie Finance 195 5 Up Beers Ind 2650B unch Edron 530 unch Edgars 6650B Evpready T ted Yolk 460 10323 words
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Article128 1980-06-28 8 PeugeotFiat contact PSA Peugeot-CI troeii chairman Jean-Paul Parayre told shareholders the company has very close contacts with Flat but no new agreement is imminent. Replying to questions at the annual meeting, he said the two companies are already cooperating in Argentina and on the production of a light commercial vehicle.128 words
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Page 8 Advertisements
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Advertisement341 1980-06-28 8 Saturdays, Sundays Eves of Holidays On these days, you pay less to come on our package special. <2 days 1 night) •Sll7(nett) double occupancy $43 (net!) additional person $23 (nett) per cfttkJ under 12 accompanied by parents 3 persons maximum per cftaiet Charges inclusive of Service Charge Govt Cess Our341 words
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Advertisement158 1980-06-28 8 Where to wine, dine and entertain iIvJU JAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights. Open daily: 12 noon 3 p.m. 6.30 p.m. 10.30 p.m. For reservations call *****77 A Ccmiin hirk Slm*iiiUhi Siii£;n|»or«* SHERATON HOTELS AND INNS WORLDWIDE NASSIM HILL. SINGAPORE 1025 Tei *****7? Operated Dy158 words
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Advertisement121 1980-06-28 8 !;=\=%;|^_;>++=]}!-*?)!||@?|!]* The Great Family Do-lt-Yburself Barbecue. 1% 9>\ i f} TO bW Saturday rwtx Pootside at the Oberot lust choose what you want and barbecue it Meat seafood, salads, sauces Chefs hat and apron available $20+ tor adults. Jl4+ for each child under 12 Anytime from 7pm-10 30pm T 5*121 words
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Advertisement214 1980-06-28 8 Singapore-style SBilton style, lah At the Top of the Hilton, at Hin's. That's where you get a selection of typically Cantonese favourites. And our very own Flavours of Singapore No mess No noise. Just great chow In the comfort and serenity of the Hilton. If you live to eat. live214 words
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Advertisement263 1980-06-28 8 The American Express Card serves you well wherever great food is served 'AMERICAN! Welcome To apply for the American Express Card, call 2358 133. OMBO'2J AEC 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: *****88263 words
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Article565 1980-06-28 9 NEW YORK A LATE sinking spell on Thursday undercut a firm market and left prices lower in heavy trading. Analysts said the market ran into an area of heavy supply of stock after the long spring advance that carried the Dow Jones industrial average to its565 words
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BANKING AND FINANCE
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Article482 1980-06-28 9 TRADING in the foreign exchange market yesterday was mainly confined to midyear book-squaring activity. Sterling opened firm, based on a weak overnight US dollar at 234.50/70 against the dollar. News that the minimum lending rate will be maintained at 17 per cent, resulted in a stronger sterling in482 words
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Article22 1980-06-28 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 11.5 per cent.22 words
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Article152 1980-06-28 9 THE U.S. dollar continued to make small advances against most major currencies in very thin afternoon trading, dealers said. They said business was featureless with operators unwilling to take positions ahead of the half-year end. The dollar was quoted at a late 217.75/85 yen from an early 217.35/45 and152 words
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Article200 1980-06-28 9 ASIAN ASIAN currency deposit Interbank rates as at close on June 27: 7 days 1 month 2 months 3 months 0 months 9 months 12 months U8 DolUn(Spot) Offer Hid 9H 9 l 911/10 9 9/10 9H 9W 9i 9H 9V. 9H 9 9/10 9 7/10 9 9/10 97/10 SwFrs.200 words
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Article49 1980-06-28 9 RANGE of pnm *1 Ml by dt» count ho—i am Jm» r Ovrmiftii in QUI drpotfu Ohm B«r«M H»IUm 3-month Treasury bUU 6 1 6 l 3 month Bank bills 9 13/16 9 11/16 3 months CD 9v« g, 6 months CD 93/16 #1/16 Source: National Discount Co49 words
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Article115 1980-06-28 9 THE U.S. dollar for overnight delivery closed at 217.60 yen yesterday, up from a 216.80 opening but down from 218.15 at Thursday's close, dealers said. Trading was light with volume US$767 million. The dollar edged up to the day's high of 217.70 yen in slow late trading on buying115 words
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Article286 1980-06-28 9 IN Singapore, gold futures yesterday closed generally firmer compared with overnight levels in light trading, dealers said. Opening quotations were marked up around US$2 an ounce following the metal's strength in New york on Thursday night and in Hongkong yesterday. Thereafter the market held steady during the morning's trading286 words
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Article299 1980-06-28 9 THE U.S. dollar firmed slightly yesterday in early trading, basically reflecting some technical recovery following overnight losses in the US, while sterling softened, dealers said. They noted Thursday's announcement by the UK Industry Secretary Keith Joseph that the state owned British Steel Corp has requested substantial additional external financing299 words
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Article60 1980-06-28 9 RESULTS of tender held on June 27 for 91/273-day Treasury bills are: Offered: $80,000,000/ $20,000,000 Applied for: $174,250,000/ $68,000,000 Allotted: $80,000,000/ $20,000,000 Accepted bids: $96.31 approximately 43 per cent higher bids in full. For the 273-day bills, accepted bids were $96.14 and higher bids in full. Average60 words
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401 1980-06-28 9 AFP SINGAPORE was among the major recipient-coun-tries of gold sales last year, with the amount of yellow metal transferred to the Republic increasing by around four times from the previous year's level. According to the recently published annual gold survey of Consolidated GoldAFP - 401 words
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236 1980-06-28 9 Reuter JAPANESE companies raised an estimated record US$6 billion from overseas markets in fiscal 1979 ended March, up sharply from $4.50 billion a year earlier. The Long-term Credit Bank of Japan said in a monthly survey the share of funds from overseas of the totalReuter - 236 words
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Article128 1980-06-28 9 Reuter THE THAI Cabinet has approved a Finance Ministry recommendation to obtain a US$3lO million, eight-year, syndicated loan for development projects. An official said the loan, which carries interest at 0.75 per cent over London interbank offered rates (Libor) and a four-year grace period, is guaranteedReuter - 128 words
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126 1980-06-28 9 Reuter THE FINAL draft of a feasibility study on a financial* futures market in London should be ready for su birds-* sion to the Bank of England in about two weeks, safcC John Barkshire, chairman* of a City working parly! which prepared the study. MrReuter - 126 words
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Article76 1980-06-28 9 Reuter THE TAIPEH Ministry ;of Finance has informed forC eign banks that they most* increase capital required their Taiwan branches la US$2 million before Martjr 1981. A spokesman for Hie» ministry said they may IqC crease their capital step by" step but added that tl^ a amountReuter - 76 words
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Page 9 Advertisements
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Advertisement964 1980-06-28 9 J. W--r Barclays Bank International Limited The Barclays Bank International group Consolidated balance sheet at 31st December 1979 Liabilities Deposits and current accounts of customers including other banks Amounts due to Barclays Bank Limited and fellow subsidiaries Current taxation Other liabilities Long term borrowings of subsidiaries Loan capital of the964 words
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1739 1980-06-28 10 BID and offer prices officially listed and business in and reported to the Stock Exchange Df Singapore yesterday with the number of shares traded shown in brackets in lots of 1.000 units, unless otherwise specified. SECTION ONE INDUSTRIAL A COMMERCIAL Atm» (3.145)1,739 words
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Article164 1980-06-28 10 SING APORE I NIT TB18T OUB-MONTAGL The Commerce tar Jm M) 2 65 2 78xd prtow tar Jh a Union Spore Fund 1.03 l Ob The Savingt Fund S pore Prog Fund 1.73 1.8 1.28 1.34 INCOME BOND UNIT S pore See. Fund S pore Invest Fund 2.13164 words
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Article2791 1980-06-28 10 Gr'» Gr's Net 1980 Last Div Div Y'ld P/E Vol n*v High Low Company Sale or- C'vr (000) High Low SECTION ONE INDUSTRIAL COMMERCIAL ■370 245 Acma 316xd -2 15.0 2.8 4.7 12.4 3 316 314 ■223 220 Alcom 223 12.0 2.5 5 2 12.6 149 1162,791 words
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Article1837 1980-06-28 10 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. INTM-BTIUALB Aicea (2.178 2.206) (12) 2.18 Ataa BaM (1.348) A Chee (1.305)1,837 words
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Article74 1980-06-28 10 Negri SembUaa OU Palms BM: AGM to be held at 12th Floor, Wisma MPI, Jalan Raja Chulan, Kuala Lumpur, at 11am on June 28. Harlmnn Investments Ltd: AGM to be held at 19th Floor, OCBC Centre, Chulia Street, Siingapore, at 12 noon on June 28. Tnng Meng Industries74 words
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Article, Illustration741 1980-06-28 10 BULLS made a (treehl entrance late the Singapore stock market yesterday poshing share prices upwards across the baard. At the flaal bell, hrsad galas were pasted la mast sectors. The upsarge s( baylag Interest was clearly ma latest tram the market's opening as purchase741 words
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Article562 1980-06-28 10 PRICES ruled steady on the Kuala Lumpur stock market yesterday, after three sessions of uneasiness and erratic trading caused by fears of the border fighting in Thailand. Traders appeared to regain their composure to trade briskly. Attention however was confined to selected heavyweights and lower-liners. Elsewhere,562 words
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COMPANY NEWS
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Article, Illustration386 1980-06-28 11 TOH SU FEN - By TOH SU FEN RIDING on the back of the construction boom, Sigma Metal hopes to make a healthy recovery this year and to broaden its bases. The company plans to diversify both locally and overseas. With a number of local building projects already in386 words
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Article242 1980-06-28 11 JACK CHIA Enterprises (Malaysia) has reported lower earnings for the year ended March 31, 1980, following poorer results from subsidiaries. Group pre-tax profit fell 33 per cent to $2 02 million on a 6 per cent decline in turnover to $18.43 million. Higher costs contributed242 words
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LATEST RESULTS
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Article47 1980-06-28 11 has reported pre- tax profit for the year ended Feb 29, 1980, of $1.61 million as compared with *4 77 million the year before. The directors will recommend payment of a first and final dividend of 10 per cent tax exempt (15 per cent).47 words
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86 1980-06-28 11 has re- ported group pre-tax profit (including share of profit of associate company) for the year ended Dec 31, 1979, of MJ6.36 million as compared with $2.75 million the year before. The company said that its accounts has been delayed pending the finalisation of the Chenderong86 words
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Article122 1980-06-28 11 PAN Electric $15.91 million 9 s t per cent convertible unsecured loan stock 1980 87 the loan stock transfer register will be closed from Jul 25 to 29, for the purpose of fixing entitlements to the half-yearly interest ending Jul 31. All loan stockholders can, during the months122 words
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Article315 1980-06-28 11 TONG MENG Industries staged a further profit improvement last year despite being plagued by unfavourable market conditions and keen competition. Buoyed by a better second-half, group pre-tax profit for the year ended Dec 31, 1979 jumped by 73 Per cent to $688,368 despite a315 words
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Article146 1980-06-28 11 MWE Holdings Berhad ku aasesseed a far we rights lane at $1 par which will raise the cempaay's paid-op capital to $17.4 mllllea. The Pral-hased textile cempaay said yesterday the righto lane, which will hrlag la $8.7 mllltoa, will he and to redaee baak btmwlags and146 words
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Article243 1980-06-28 11 SUPREME Corporation has been asked by the Kuala Lumpur Stock Exchange for more details on the Keng Soon group acquisition as well as an explanation for not giving indication of the acquisitions when queried earlier on the share's sharp price and volume jumps. The exchange wants Supreme "to243 words
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Article294 1980-06-28 11 THE cessation of loss-making commodity trading activities has helped Central Securities (Holdings) back into the black in the first half of the current year. Group pre-tax profit (including associates' contributions) for the six months to Mar 31, 1960, amounted to $567,000 compared with a loss of $965,000294 words
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Page 11 Advertisements
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Advertisement1249 1980-06-28 11 ASSETS EUROPEAN ASIAN BANK BALANCE SHEET as at December 31,1979 Cosh m hand Balances with the Deutsche Bundesbank Balances with foreign Central Bonks Balances on postol cheque accounts Cheques on other banks, matured bonds, interest and dividend coupons, and items received tor collection Bills discounted including a) rediscountable at the1,249 words
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183 1980-06-28 12 Reuter VIETNAMESE-led forces on the tense Thai-Kampu-chean border are believed to be holding four Westerners, two of whom are Red Cross workers seeking permission to bring out wounded in the aftermath of bloody fighting. The two officials of the International Committee of the RedReuter - 183 words
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Article297 1980-06-28 12 AFP A MALAYSIAN company has obtained a $5 million loan to develop what is expected to be the world's largest marine prawn culture farm, and the first in South-east Asia. Syarikat Pelihara Udang, owned by Sabah cocoa industrialist Datuk Hong Teck Guan, will rearAFP - 297 words
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170 1980-06-28 12 OVERSEAS airline passengers faced long delays at Sydney international airport yesterday as a strike by Qantas ground staff entered its seventh day. Striking Transport Workers Union members at Qantas voted on Thursday to stay out at least until Tuesday, a union spokesman said. The 650170 words
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160 1980-06-28 12 AFP REFLECTING the recent yen appreciation, net investment in Japanese stocks by foreigners hit a record high of US$4Ol million in May. This is almost three times more than the $135 million in April. The Japanese Finance Ministry reported yesterday that the MayAFP - 160 words
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142 1980-06-28 12 AFP ABOUT 50 bankers from Asean will meet in Manila for three days next month to finalise the establishment of the Asean Finance Corporation. Members of the Asean Banking Council will also be meeting in Manila from July 5-7 to develop an Asean bankersAFP - 142 words
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Article837 1980-06-28 12 LONDON, Fri. Gold shares advanced in active trading reflecting the higher bullion price, but otherwise the account ended on a quiet note and at 3 pm, the FT index was down 4.4 at 462.3, dealers said. Government bonds rallied from initial falls after the Bank of England announced837 words
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Article442 1980-06-28 12 Reuter THE HONGKONG committee on takeovers and mergers has censured financial adviser Wardley for its handling of Sir YK Pao and his family's acquisition of more shares in Hongkong and Kowloon Wharf and Godown. In a statement yesterday, the committee said the failure of Pao interests toReuter - 442 words
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Article338 1980-06-28 12 Reuter THE PRICE of gold in London yesterday jumped to its highest levels since March, trading at more than US$63O an ounce on European bullion markets. Dealers said gold rose against a background of anxiety about the international political situation, but technical factors were more immediateReuter - 338 words
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Article164 1980-06-28 12 AP CLASHES and mortar attacks that began late on Thursday night between Iraqi and Iranian forces at border posts in Dam province west of Iran were still going on yesterday. A spokesman for the Iranian joint staff of the armed forces said the clashes were taking placeAP - 164 words
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134 1980-06-28 12 Reuter CARIGALI-British Petroleum, a joint-venture company formed by Malaysia's national oil company Petronas and British Petroleum,, is to start oil exploration in a large concession area in the East Malaysian state of Sabah. Mr G. V. Wood, manager of Carigali-BP, yesterday said seismic tests willReuter - 134 words
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Article102 1980-06-28 12 AP A SEAMAN threatened to set fire to a kerosene-soak-ed rag on board a Singapore oil tanker in Darwin, Australia. The tanker is loaded with 70,000 tonnes of fuel oil. Police at Nhulunbuy, 650 kilometees east of Darwin, said yesterday the threat was made on boardAP - 102 words
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Page 12 Advertisements
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Advertisement192 1980-06-28 12 OFFICIAL NOTICE PROPOSAL TO CHANGE Of SHIP'S NAME We. Trademar Pte Ltd, of Unit 1101-A. 11th floor, Marina House, Shenton Way, Singapore 0207, hereby give notice that In consequence of our clients' Intended change of name of the motor vessel "EUROBRIDGE CROSS", we have applied to The Registrar of Singapore192 words
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Advertisement247 1980-06-28 12 Just Published! ot jc>urna\ Street wry TV>e SEW *92 II M 9 on Sale Now Was Chairman Mao a secret communist? Is America in danger of going capitalist? Do airlines discriminate in favor of baggage? Are you suffering from trans-galactic schizophrenia? Is the Abominable Snowman having a secret affair with247 words
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Page 12 Miscellaneous
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Miscellaneous66 1980-06-28 12 Outlook for Singapore from 6 a.m. to 1 p.m. today: Showers in a few places in the late morning. Report (or 24 hoars prior to 7.31 p.m. on Jane 27 at the airport. Maximum temperature 31.6 Associated humidity 69 Minimum temperature 26.3 Associated humidity 92 Hours of sunshine 7.05 Rainfall66 words
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LEISURE TIMES
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Article, Illustration1703 1980-06-28 13 LEE YOKE MENG - To get far from the madding Hongkong crowd, one may either step into a Chinese village of the past or relax in the cool dolphin. By LEE YOKE MENG LAI CHI KOK is but one of the myriads of fascinating and unique district names in the1,703 words
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Article, Illustration383 1980-06-28 13 VIOLET CHOW - VIOLET CHOW AT LAST, the best mad meat talented make-sp artiste la Singapore has been fonad. And she Is Cecilia Chug, winner sf aa elaborate Make-Up Award easiest held fsr the first time Is Sin gaps re aad judged at the Shaagrl-La Hotel on Thursday. For383 words
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Article, Illustration1056 1980-06-28 14 Hermes - M0T0B1M8 with Hermes THE word "conventional" for a car is getting to be vague and out-of-date these days. We are already beginning to see turbo chargers being fitted into cars to improve efficiency, and even four-drive wheel drive saloons are going into full-force production. But there1,056 words
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Article, Illustration408 1980-06-28 14 VIOLET CHOW - By VIOLET CHOW THE TIARA Snpperelnb ghlmawred with the usual anticipation as the lights dimmed. Hie drams railed a man strode aver, teak the mlerophoae aad brightened the stage with the apealag nam her, What Kind Of F—J Am If Every ward aad metedy that paared from408 words
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Article, Illustration1931 1980-06-28 14 RONALD KOW - By RONALD KOW SINGAPORE gets yet another crack at trying to beat Selangor in a Malaysia Cup final at Stadium Merdeka in Kuala Lumpur tonight. So, will «re have cause to celebrate after this evening's match? Or will we just go back to1,931 words
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682 1980-06-28 14 CHARMAINE CHAN - ANCHOR SQUASH LEAGUE ANCHOR 1980 SERIES By CHARMAINE CHAN BEECHAM has not dropped a set in its quest to regain the Anchor Business Houses Squash League this year, handing three opposing teams 5-0 losses so far. The winner of the inaugural league682 words
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Article274 1980-06-28 14 GOLF: SICC (Bukit location) sth SICC Open Invitation Championship. Starting this morning, this year's championship, which has attratced 46 entries, will feature these young golfers: John Ong, Poh Yee Kiat, David Sim, Tan Chuan Thye and Nicholas Leong. SICC (Island course) mixed four-ball best ball srokeplay tomorrow274 words
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Page 13 Advertisements
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Advertisement92 1980-06-28 13 CJL: 4RAKIf Raki Corporation For all types of OMk Culinary (Oriental Raki Corporation nd European) Tel: *****4/*****4 9 r n d. whole. Tele.: RS ***** A B RAKICOR nibbed, herb*. c»w«: "RAKICORP" seeds, roots. apices F«io., »"d pulses. Narsiiing Industrial Estate MaUvsij Tel: SS4B4 Manufacturer. CaMc: "RAKICORP" Johore Bahru miller92 words
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Advertisement21 1980-06-28 13 RICOH Plain paper copiers Preferred by offices worldwide CALL *****5. Wywy Private Limited Wywy House. 17 Leng Kee Road. Singapore 031521 words
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Page 13 Miscellaneous
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Miscellaneous578 1980-06-28 13 WHAT WHERE EXHIBITIONS ALPHA Gallery's presentation of Abstract Paintings by Jaafar La tiff. Last day. From 10am to spm. HAVE your portrait sketched in charcoal by Mohamed bin Mohamed at the Oberoi Imperial Hotel exhibition of his works. Over 20 charcoal and oil works by this multi-talented artist (he is578 words
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