The Business Times, 28 February 1981

Total Pages: 14
1 14 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 107/1/81 SATURDAY, FEBRUARY llgl 60 CENTS
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  • BRIEFLY...
    • 84 1 UPI TOKYO, Fri. Japan's car exports rose for the 20th straight month in January to hit yet another record of 531,539 units. The Japan Car Manufacturers Association said the shipments were up 33.2 per cent over January last year. The US was the largest customer, taking
      UPI  -  84 words
    • 76 1 Reuter PARIS, Fri. President Valery Giscard d'Estaing, fiercely defending his seven years in office, has given the clearest indication to date that he will seek re-election in April. He told a weekly magazine that France is stronger than ever before but that more than seven years are
      Reuter  -  76 words
    • 81 1 Reuter JAKARTA, Fri. The state-owned Pertamina oil company, which had a US$lO billion debt in 1975, now owes the Indonesian central bank only about 12.2 billion, bank governor Rachmat Saleh said. He .said the debt to the bank is for repayment of various outstanding loans, interest on
      Reuter  -  81 words
    • 65 1 UPI MOSCOW, Fri. Soviet premier Nikolai Tikhonov called for a resumption of trade with the-United States and indicated that the American grain embargo is hurting his country. Tikhonov acknowledged to the 26th communist party congress that the country is not producing enough grain and said radical
      UPI  -  65 words
    • 65 1 AP BEIRUT, Fri. Iran accused Iraq of dropping napalm bombs on Iranian population centres as Islamic heads of state converged on Saudi Arabia to. begin mediation efforts to stop the 160-day-old war in the Persian Gulf. Iran claimed Soviet-made Iraqi jets dropped five US-made napalm bombs during
      AP  -  65 words
    • 74 1 Reuter BEIJING, Fri. Former Kampuchean head of state, Norodom Sihanouk, said he has been forced to shelve his plans for the formation of an antiVietnamese united front in his homeland. The prince said in a telegram to Reuters from his exile in North Korea that he has
      Reuter  -  74 words
    • 53 1 Reuter BEIJING, Fri. The Chinese government announced today it is recalling immediately its ambassador to the Netherlands and asked the Dutch government to recall its ambassador to Beijing. The move comes after the Dutch government refused to reconsider its decision to allow the export of two submarines
      Reuter  -  53 words
  • Chief Price Changes
    • 115 1 Rises Indices Sctaagor Dr«d( Rahman Hyd PMC Fuu St 8t«*mtUp J Cement B AT Nat Iron Khoif Guan Oriental Hldgs M Credit 625 1750 1400 285 550 340 250 795 200 810 434 110 70 60 52 40 40 36 30 30 25 24 B.T.Indicator: Industrials: Finance. Hotels: Properties:
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    • Article, Illustration
      149 1 Rises Indices Sel Dredge 700 128 Feb 26 Feb 27 C C Bintang 515 +41 B.T.Index: *****2.33 *****8.78 B A Tobacco 251 +37 Industrials: 999.83 995.65 Fusan 292 33 Finance: 1524.50 1515.24 Sim Lim 348 26 Hotels: 544.27 540.97 A Hitam 1540 20 Properties: 951.35 999.08 N B
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  • 730 1 A HUGE mw Investment fond to manage Government cash surpluses that could ran as high as $15 billion is to be set ap later this year. Traditionally, such funds have been managed by the Monetary Authority of Singapore but they will sow be transferred gradually
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  • 152 1 NATIONAL Iron and Steel Mills has bought land and building in Jurong belonging to the Pioneer Industries Employees Union for $18.5 million in cash. The land is 3,762 square metres while the building, the eight-storey Unity House, is estimated to have a gross area of
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  • 569 1  -  By MARGARET THOMAS LJM KIM SAN, Minister of Finance from 1965 to 1967, will take over as managing director of the Monetary Authority on Monday when Michael Wong Pakshong steps down from the post he has held for the last 10 years. Mr Lim, 65, will preside
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  • 321 1 DR WONG Kwei Cheong, chairman and managing director of Japanese consumer electronics company Aiwa/Atlas, has been appointed chairman of the National Productivity Board. The appointment of Dr Wong, who is also the Member of Parliament for Cairnhill, was announced by the Ministry of Labour yesterday. Former NPB
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  • 269 1 BULLISH seatimeat prevailed ever aaeertalaty ud preflt-taUag as heavy baylag pasbed the Straits Times ladex d 39 qaality ladastrial stacks abave the 811 reristaaee level to a reeard Ugh yesterday. Brisk tradlag had the deallag clerks at the exchange sa their tees thraagbeat the
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  • 494 1  -  By CHOO AI LENG MALAYAN United Industries (MUI) has encountered more difficulties, this time of a legal nature, with the authorities in its proposal to acquire Ming Court Hotel and Hotel Malaysia. The Stock Exchange of Singapore (SES), in a letter to MUI
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  • Page 1 Advertisements
    • 17 1 The Singapore's Straits Business Times World DIRECTORY at your ()f Fingertips Singapore (Buku Merah) See page 2
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    • 131 1 ASIA RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments taking place in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided into six separate reports of about 8,000 words each There is a dual
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    • 81 1 Leader ...page I (.,("[)>-_:-?!(*[$=~>+$.)>}-);$ m LEISURE TIMES TIMBER beard plans trade NEW INSURANCE poUcy far m1m1M..................................... 5 bank 5....................................... 9 FRENCH motor Industry In MALAYSIAN Textile to acquire serlans trauMe.......................... I developing eampany 11 WIDE range of computer sys- LOWER prices paid at HK land terns (or h0te15.......................... 7 aucti0n.....................................
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    • 63 1 "PI SNG\POW business 'J *7 •> STANLEY LEASINGHAM At the Clare Leasingham Valley, nature conspires with man to produce a vintage. Rich grape juice left to mature and magically transforms into wine that's mellow and smooth to taste STANLEY LEASINGHAM 1980 RIESUNG now ready to be savoured any moment 'J-
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    • 3 1 See Page 11
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  • REGIONAL
    • 608 2 UPI THE New Zealand Federation of Labour issued a back-to-work recommendation to angry union members yesterday, averting (ears of a general strike. Unions had staged, walkouts over the arrest of pickets in two industrial disputes, but the federation recommended that the strikers
      UPI  -  608 words
    • 125 2 Reuter THE Australian economy is strengthening because the government is addressing itself to the fundamental problems of the economy. He told parliament <evfdence of this strength was emerging almost every day in figures showing sustained growth in retail sales, increasing exports and rapidly expanding investment. The government
      Reuter  -  125 words
    • 782 2 1 ARRIVALS Service LoCil Operator Number Time From PAA PA005 0030 JEK/SPO/HKG MAS MH601 0630 KUL CAL CI331 0700 TPE FT FT71 0710 JFK/ORD/KUL SIA SQ101 0615 KUL MAS MH605 0630 KUL MAS MH621 0635 PEN MAS MH671 0930 KUL SIA SQ211 1000 HLP CAL CB14 1000
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    • 713 2 FOR GREATER SECURITY Agencies PRIME Minister Margaret Thatcher of Britain has suggested in Washington that Britain, France and the United States could set up a permanent naval force to increase security in the Gulf region. "We can only do it with the consent and
      Agencies  -  713 words
    • 439 2 Reuter, AP THAT Prime Minister Prem Tinsulanonda yesterday said a controversy over oil imports, which threatened to break up his one-year old coalition, had caused misunderstanding among cabinet members but involved no corruption. General Prem, in his first official statement on the issue that
      Reuter,; AP  -  439 words
    • 244 2 AFP CHINA may restore the post of head of state or president, abolished since the dismissal of Liu Shaoq* A noted authority on law and constitution,r Zhang You-yu, said at the Beijing Legal Studies Association's annual meeting that the 1978 constitution has outlived
      AFP  -  244 words
    • 140 2 Reuter EGYPT'S main opposition Socialist Labour Party (SLP) has withdrawn its support (or the US-backed Camp David peace agreements between Egypt and Israel. An SLP statement issued on Thursday the first anniversary at the establishment of diplomatic relations with Israel said the party
      Reuter  -  140 words
    • WORLD IN BRIEF
      • 428 2 Agencies JAPANESE Prime Minister Zenko Suzuki will propose a summit meeting with President Chun Doo-hwan in a letter to the South Korean leader. Mr Suzuki's letter will be handed to Mr Chun by Japanese Foreign Minister Masayoshi Ito, who will attend the Korean President's inauguration in Seoul on
        Agencies  -  428 words
    • 238 2 Reuter JAPANESE Prime Minister Zeako Suzuki has Instructed his government to give priority to curbing domestic prices after his office announced that domestic Inflation rose again last month. lie office amid Japan's coasamer price index rase 1.2 per cent to 141J (base lfK)
      Reuter  -  238 words
    • 103 2 Reuter TRADE aaien sympathisers with striking ground staff of Australia's gsvenuneat•wm4 Qaatas airline yesterday threatened fuel supplies to all iateraattoaal airlines, as negotiations ta ead the 11-day dtspate failed agaia. Qaatas executives aad union leaders yesterday held their seveath day ef talks ehalM by Awlralla's
      Reuter  -  103 words
    • Article, Illustration
      418 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Builder (after Builder II) 22 Joo Hong (Tanker) (after Bangsaen, P/0, subject gas free) 13/14 Kellet Island (after Frotadurban) 6/7 Nedlloyd Nagoya (0600 after Arunachal Pradesh) 5 Nedlloyd Steenkerk (after Nedlloyd Amsterdam) 3/4 San Luis (0530 hauls 6m east) 35/36 Sea Princess
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    • 692 2 AFP SON SANN, head of the main non-communist Kampuchean resistance movement, has denied receiving any invitation from Prince Sihanouk to take part in talks towards the setting up of an united front against the Vietnamese. Speaking to a handful of journalists
      AFP  -  692 words

  • Page 3 Advertisements
    • 458 3 Rooty Square brings Orchard Road glamour to Katong! The shopping and entertainment magnet of the "80s for tourists and Singaporeans. j I > 1 r -4l J** -<■ lift y* J i Ni V,J i f c L_K4 Roxy Square... a promise of all the glamour of Orchard Road, with
      458 words

  • RAW MATERIALS
    • 242 4 THE market continued its decline in dreary and listless conditions to touch 270 cents per kilo for current 1 R.S.S. marking its lowest point since April 1980. Holiday, Cutler, Bath and Campaay in its latest review of the Singapore and Malaysian rubber markets said that with
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    • 190 4 SOYBEAN futures in Chicago on Thursday ended 10 3 to B'/i cents a bushel lower in revived trade. Prices settled near the middle to low side of an eight cent range. Prices declined from the start on speculative selling following forecasts of rain in major US bean crop areas,
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    • 173 4 WHEAT futures in Chicago on Thursday settled near the bottom of a four cent range, down 4 l /i to six cents a bushel in moderately active trade. Steady local long liquidation on govenment predictions that major US winter wheat growing areas will receive much needed precipitation within the
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    • 232 4 THE Singapore market yesterday closed slightly higher with March One RSS buyers quoted at 272.50 cents per kilo, up two cents from Thursday's close, dealers said. Morning prices were marked up slightly on weekend covering interest and light buying support, they said. Afternoon prices gained further ground on some
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    • 309 4 RAS prices In cents per kilo yesterday. Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 268.50 269.50N Int. 1 R.S.S. March 270.25 271.75 Int. 1 R.S.S. AprU 275.25 275.75 Int. 2 R.S.S. 253 00 254.00N UK Coot 252.00 253.00N Int. 3 R.S.S. 250.00 251 00N UK/Cont
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    • 113 4 NOON SSR and SMR pricw ym» wdajr RA8 SSR 20 SSR SO MBKLB (1-ton palWtl (Hon pallM) March (Ctrtnl Mtk) Bujrar* S*lUn 242.00 244.006 238.00 240.00N April (PnrwaH Mtk) B«jr«r» S«lUra 244.00 246-OON 240.00 242. OON SMR CV SMR L SMR 5 SMR CP SMR 10 (1
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    • 110 4 THE STRAITS tin price in Penang yesterday fell sharply by 88 cents to M 531.59 a kilo hot was still within the International Tin Agreement's middle range price of $91.01 to $32.74, dealers said. The drep followed easier overnight London advices and continued higher offerings bnt they felt
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    • 34 4 Rubber: Feb 27 Singapore: March: 272.50 cents (up 2.00 cents) Malaysia: March: 295.75 cents (up 3.00 cents) Tin: M 530.59 per kilo (down 68 cents) Official offering: 227 tonnes (up 22 tonnes)
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    • 82 4 JAPAN'S exports of copper cathodes last year rose to 194,800 tonnes from 44,700 in 1979, helped by a sharp increase in shipments to the US, the Japanese Finance Ministry reported quoting customs cleared trade figures. Exports of copper wire bars in 1980 also rose to 10,900 tonnes
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    • 175 4 CHINESE Predaee Exekaoge, Stagapare, aaaa elastag prices per 1M kg yesterday. Gaeaaal aU: Bulk fob $129.00 sellers, old drum (in second hand drum) fob $139.00 sellers, new drum fob $145.00 sellers. Capra: Mixed (loose) $79.00 buyers. Pepper: Muntok white pepper fob Asta NLW $«27.50 sellers, Sarawak white pepper
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    • 181 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Cattaa yam: China Blue Phoenix 20s 2.235; 32s 2,780, 40s 2.996 (per bale of 400 lbs). Piece gaads: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 342 4 SINGAPORE: Yesterday's closing prices were not available. The following are Thursday's prices in SI per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.28, 100 per cent second class 1.02, 100 per cent third class 1.01, 25 per cent new crop no stock, B-10 per
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    • 866 4 COFFEE: Robusta futures yesterday ended a quiet morning £2 lower to £2 higher in a volume of only 925 lots. The market opened around £8 lower basis May in line with the New York market close on Thursday, but quickly found covering support against sterling weakness. Dealers said
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    • 124 4 THE Kuala Lumpur market yesterday contlhued lower on selling in moderate trading, dealers said. r March positions in the central and southern regions eased Mslo and $20 respectively to $090 a tonne, while northern region April was unchanged at $985. The refined market continued featureless. India, despite rejecting
      124 words
  • ASIAN STOCKS
    • 513 4 TOKYO SHARE prices yesterday firmed further on selective buying by foreign investors in blue chips, with market sentiment enlivened by the continuous rise on Wall Street, dealers said. The market average rose 26.29 to 7,146.53 in moderate trading, with volume 900 million shares. The Tokyo Stock
      513 words
    • 317 4 THE market yesterday opened surprisingly firm when one considers Thursday's sharp drop. Early buying dissappeared after the first hour and the market came off sharply. Buying during the last half-hour lifted the market well above its lows and the market closed down 12 points on higher volume. Counters tended
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    • 107 4 THE stock market yesterday closed lower and turnover slipped to 1.03 million pesos from Thursday's 2.4 million, dealers said. Apex Mining B, Anglo Phil and San Miguel B traded, while the rest were either unchanged or untraded. 1KB 27 Pesos 0062 -0 0002 Alias Con A" TJM 005 -*****
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    • 240 4 STOCK prices yesterday closed slightly higher in sluggish trading, dealers said First Trust rose one baht to 68.5 and Jalaprathan Cement, Siam City Cement and Rama Tower one each to 118,195 and 84 JO baht. Siam Cement and Saha Union closed unchanged at 270 and 198 baht. FEB T,
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    • 2 4
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    • 260 4 SHARES yesterday were generally steady in quiet trading, with a strong industrial sector buoyed by higher retail shares offset by lower resource stocks, traders said. FEB 27 Cents INDUSTRIALS A. C I 303 -2 A. N I. Ji«s A P. M 221 unrl Ampol Pec 177 unch B H
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  • Page 4 Advertisements
    • 60 4 mm «vS *5 m: J aasEH®®^ St «A < j£r u« r Opportune r The Happiness wose n Ihesifayoourscinttiff*ing inS^'^Xwarri^ in log. \T 1 S °Wh /tfcfe fcasf "•SkjM *4* r Ss?^eS?.fe=: r/ t/l. n "y Q"* VOo ?!f»l tf *°w l TO ®0/Vn Distributed by FEDERAL PUBLICATIONS 1 New
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  • TRADE AND INDUSTRY
    • 269 5 HBATAPOOL, a credit rating company, will soon go into the debt collecting business. Andrew Quek, managing director of the company, said the service will be provided either by a division of Datapool or a new subsidi- ary company. In either case, the project Will
      269 words
    • 238 5 assembler of control valves in Singapore, Ma- seneilan (SEA), is looking into the feasibility of manufacturing some of its valves in Singapore. But the company's decision will hinge on the avail- Ability of good cheap casting materials in the re/«ion. •-Richard Vieser, executive vice-president of the
      238 words
    • 43 5 TRADE and Industry Minister Gob Chok Tong will be the guest-of-honour at the swearing-in ceremony of the 41st management committee of the Singapore Chinese Chamber of Commerce and Industry. The ceremony will be held on March 14 at the chamber's premises.
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    • 431 5 SEMINARS AND COURBEB Mar 2-5: Administrative Office Systems, SIM Conference Room (3rd floor, Thong Teck Building), S'pore Institute of Management Mar 2-11". ME 29 TME Programming k Management, ICL Lecture Room (Bangkok Bank Building, Cecil Street), ICL Singapore Mar 2-Mar '82: Business Management Programme, NPB Cuppage Centre, National
      431 words
    • 148 5 ROLLS-ROYCE, a British engineering company, will hold a seminar on gas turbine technology next month. The one-day seminar will be held at Shangri-La hotel on March 12 and is intended to acquaint those interested with the state of development in gas turbine technology and
      148 words
    • Article, Illustration
      120 5 THERE is no need for vast expanses of solar collectors to heat your home. Heat conducting copper elements on the underside of a pantile will make the roof equally effective in harnessing heat from the surroundings. They relay environmental heat to a waterfilled system of pipes attached
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    • 131 5 A SEVEN-man delegation from the American publishing industry is in Singapore to attend a one-day seminar organised by the Singapore Books Publishers Association. The seminar will allow publishers to inform each other of the industry's needs and opportunities in the various countries. Mr Hurst, director
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    • 64 5 HOW many persons were convicted of bribery and criminal breach of trust last year? How many of these were professionals from the public sector, and how many were fom the private sector? Minister for Home Affairs Chua Sian Chin will be asked these questions by the MP for
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    • 195 5 SINO-American Travel is planning at least two more Concorde flights later this year. Sino-American Travel, a travel agency with headquarters in Singapore, first chartered the British Airways Concorde on Feb 7 to take about 100 passengers on a one-and-a-half-hour round trip over England, Europe, the British Channel,
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    • 274 5  -  By HSUNG BEE HWA THE Timber Industry Board is organising two trade delegations later this year to promote timber and timber products abroad. The first delegation will visit Bangladesh and Sri Lanka while the second will visit Burma and Thailand. This is the first
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    • 285 5 THE Ministry of Social Affairs will give more assistance to residents' committees. Ahmad Mattar, Acting Minister for Social Affairs, said his ministry will continue to help residents' committee central secretariat organise training courses for RC members. Dr Mattar, who was delivering his opening address at
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    • 113 5 HEAD-hunting firm Egon Zehnder International has appointed BuM Biaks managing director of its new wholly-owned subsidiary in Singapore. Mr Binks was previously managing director of Korn/Ferry International's Singapore branch. Succeeding Mr Binks at Korn/Ferry is J«hM Harlow, who in addition to his Singapore responsibilities will oversee the
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  • Page 5 Advertisements
    • 50 5 Dnratten, Title, Venae and Organiser ASIATEX '81 International Exhibition of Machinery and Materials for the Textile and Fabrics Trade 26-30 APRIL 1981 World Trade Centre, Singapore TEXTILES: A TRULY GLOBAL INDUSTRY For further details, contact INTERFAMA PTE. LTD. No. 634, World Trade Centre 1 Maritime Square. Singapore 0409 Tel: *****12
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    • 177 5 built stronger to last longer. W5 wm 4 cs> r Ford Econovan K,,, a t C' Ford Courier i I Imported direct from Japan. Now there are vehicles that can make more money for you. Ford tmcks and vans have a longestablished and enviable reputation for rugged reliability. They are
      177 words

  • 698 6 MINISTERIAL rank is in itself sufficient reason for the selection of the board that will guide the destinies of the new Investment Corporation. Investment strategy can be adequately compounded from experience and awareness of what is going on in the world and it improves
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  • 1437 6  -  By TERRY DODSWORTH FT FOR THE first time since beginning its heady expansion in the mid *****, the French motor industry is in serious trouble. Production has gone into reverse, exports are declining and the manufacturers' formidable grasp on their home market is being shaken loose
    FT; BT Chart by Alan Chan; BT Graph of  -  1,437 words
  • 598 6  -  By TERRY ROBARDS NYT WHAT IS the most popular brand of alcoholic beverage among American consumers? Smirnoff vodka? Seagram's 7 whisky? Canadian club whisky? None of these. The biggestselling brand of distilled spirits is Bapardi rum, with sales of 6.85 million cases last
    NYT  -  598 words
  • Page 6 Miscellaneous
    • 635 6 CRYPTIC PUZZLE ACROSS 4 No great swimmers! (6) 7 Change a garment for a renegade (8) 8 A climb that is to be sniffed at? (6) 10 Watches people's heads (5) 13 Lash with the tongue? (4) L 4 Walking speed? (4) 15 Fishy Catherine (4) 16 Border of the
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    • 34 6 Bri Stow: FffliLk Dic-kpnf: Been Pi LONG DPvy JONGS.:. e*f£cr -fcrrcKßouj WILL 6C LQNG of*/-• y Ml P*4D DBV THPO" uau. Be pmcsthcr LONG 10Ry... rT^JZ. (PeoBRBC Pto DfVf PTieft "TvAPCT u>»u- BC LCrtG>DP<f.
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    • 585 6 Bjorn Borg magic THE MAN whs ku heea m top of the Mrii teaais ruklag* for Ike last few yean, Bjera Hers, will he featored la "Advaatage Berg!" a tf-mlaatc pregramme whtek starts at I«.M ea Chaaael 5. Theee who will ad ke able to watch the Berg vi Vltaa
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    • 159 6 News 8.11 Sports Diary 8.15 .On The Sunny Side t.if Prog Summary followed by Say It With Music II.M Sixty Minutes Theatre II.M News In Brief 11.15 Small Talk 12.88 Musical Tribute 1.88 The SBC Combo 1.88 PM News Followed by Share Market Report and Weather Forecast 1.45 Music A
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  • 1278 7  -  HOTEL INDUSTRY Six hotels in Singapore are currently using computer systems, among them The Hyatt Regency, Hilton, Century Park Sheraton and Apollo hotels. There is available a wide range off systems that can be tailored to the needs of individual hotels. When is the
    1,278 words
  • 901 7  -  By PAUL BETTS FT AT around noon, on any day of any week, the first "casino caravans" start rumbling into Atlantic City, the decaying New Jersey seaside resort which is the only place outside the State of Nevada where casino gambling has been legalised in
    FT  -  901 words
  • 491 7  -  By ISA ISMAEL Reuter FOR thousands of Indonesians April 1 means the last throw of the dice, the final turn of the wheel and for more than 10,000 people, possibly no jobs or income. The government has banned legalised gambling from that date. This means an end
    Reuter  -  491 words
  • 865 7  -  FOBUn with ROBERT COLE NYT MORE and more businesses of all sizes are taking a very close look at the cost of expense-account travel and, in particular, at the cost of hotels and motels in the United States. Robert Logan, a partner at the
    NYT  -  865 words
  • Page 7 Advertisements
    • 360 7 SUFERMBi lIIiI T i 11 I; im ;ni» > >»' I'-arv ■i 3 H taw r- 1. -v IJF-4'>' V. irt v *:ii ■X**r&*a Juno** I***1*** iu 1111 <7r f 'V N 1 r >» ft N S < i VM N 5 liP s iSi&Z s>* THE DREAM MAKERS
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 279 8 FKB 26 Frs CORBEILLE Air-Liquid? 487 unch B S N Gervais l)anonf 1030 -5 C S F (Thomson Csf 350 Cif Francai.se des Petroles 218 40 -01 I'oinpagnir Financier? Coinpagme Generate 390 Credit Foncier Up France 401 -2-5 Hachette < Lihrairie > 365 -3 Machines Bull 57 10 01
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      • 211 8 FEB 26 FIs ABN 294 00 -0.5 Ahold 73 80 13 Ak/o 18 10 -02 AMKV 9400 0.8 A ni fas 118 50 -05 Atnrobnk *>70 -0.3 Brrnovs 2500 unch berk 45 50 1 57 30 0.1 Borsumij 234 00 -3 Burhmann 57.50 0.3 Byenkorf 39 00 unch t
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      • 227 8 KKB 2b Din 4 Arfi-Telefunken 60 50 Ak/<> 16 SO unrh All/ l.ehen All/ Vm MM 120 60 -03 Bij N T ilaift 188 .SO 40 Hay Yhank 282 00 -2.5 Bay»»r 110.10 -03 Mb 242 10 -4.9 BMW 154 00 (awH 29S00 1 (.hem Veru 226 00 unch
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      • 96 8 FEB 26 Krj FORWARD MARKET Acer 276 .4 Arhed 1240 72 Aslur 3K9 unrh Br-isran 942 8 Bru-Lamb 920 unch Canpttc 1220 -8 Cork 188 13 Dp Beers 302 -2 Ebe* 1700 unch Fleelrobel 3370 -5 C»b-lnno-Bm 1050 -10 Gfv 13*4 unch Hobolc 2610 -IS MM 4K0 35 Ryl
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      • 184 8 I- KB 26 Krancs tAnions Suusn 2M *2 Alusuisse Br ion *30 Alusuisse Re« 412 2 Broun Bovrri Br I3K. 45 Cihu Geig> Br 1055 3D Clba DUB PC HOU 15 I'lbi Geigy Krf 560 3 Credit Suum- Br 2590 25 Credit Suur Re( 456 •2 Klektrowatt Br 2420
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      • 102 8 I FB 3b Lire Afllr 1225 1 75 Avmj* (iff) *****0 -340 Ba.slom 739 50 -7* -998 Centrale ***** Klilt 2355 ♦35 y insider 103 28 4 28 Ofn Iinrnob 2400 -35 IH Pri tms -175 Italrernend 4*200 -2800 1 taigas 1129 IlaKider 335 35 Manned M Pt 945
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      • 211 8 H H 2b C* Mnfei 29 V Ikas 40 f Algoma 42 unch Bank Mont 30 unch Bank Nova Scotia 31 unrh Bell Trl 19 Brlh Corp Br Cm MM 42 Brav jn 32 Camp Krd Ukr 59 -1 Can Imp Bk 30 Cunpar 42 unch Caspar lnv pf
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      • 307 8 M B 2b Rand INDUSTRIALS A Alpha 390 5 AlMVHi 330 unch AK And CI &30B AMU 2300B unch Barlom.s 990 -10 U Sugar 1750 unch ISA 520 I'urrir manre 220 unch IV Be*rs Ind Fd» on 570 S tdgars 7900 -SO Y vrrrjdv h>d Volk 455 ♦s Kllflt
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  • Page 8 Advertisements
    • 193 8 Where to wine,dine and entertain I he American I:\press Card. Don't leave home without it. Snacks for your island treks St.* E&3 i fi 3KJS Take your pick: Curry Puff Chicken Pic Gateau Cake Hot Dog Hamburger Sandwiches Roast Beef Bun Pack Lunch Open: Monday Friday 10.00 a.m. 6.00 p.m.
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    • 121 8 fitUkAu For sushi. For teppanyaki. For other authentically Japanese delights. Open daily 12 noon 3p m h 30p.m. 10.30pjn hor reservations call 737 c 677 A k <« 'I 111 11~\ I 'm-k >"»l U-l-J l»< >11 "~»i 11££>I| N FISH HEAD CURRY AT THE ISLANDER an oid Indian recipe,
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    • 127 8 See Page 9 for NYSE prices and Page 4 for Asian stocks The Great Family Do-KAburself Barbecue •I c. J :IV, •V. Vi m TOr! bW 5 rrrr 3 A Merlin Grill Speciality From Mongolia comes a barbecue more succulent, more delicious than any barbecue you have ever tried before
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    • 165 8 Inn Of Happiness Now open at the Hilton Dine Dine Cantonese style. Szechuan style. The Inn of .Happiness brings together the best of two culinary worlds. Two kitchens. Two chefs. All to double your dining pleasure, with that famous Hilton service. For reservations, please call 737-2233. KM HHON MTERNATIONAb BMGAPORE
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    • 131 8 +0* I r M Dragon Paleca Restaurant We re famous for our Cantonesa Cuisine The Siamese Seafood Restaurant la as good as Bangkok! lH 3 > 9 Victoria Bar The Coftee-Howee Relax in an atmosphare of For informal meals and elegant days gone by. light-hearted snacks a Codqti Hotd Oxley
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  • BANKING AND FINANCE
    • 261 9 Reuter SALOMON Brothers chief economist Henry Kaufman expects the prime rate to decline to a low of 17 or 18 per cent in the next couple of weeks, before rising again, perhaps to surpass the 21 1 per cent record rate seen late last year. He
      Reuter  -  261 words
    • 241 9 Reuter. TURKEY is seeking pledges of credit from OECD countries this year totalling around US$l.5 billion. Turkish Deputy Prime Minister Turgut Ozal said after meeting OECD Secretary General Emile van Lennep the figure will be slightly lower if creditors agree to reschedule again some of the
      Reuter.  -  241 words
    • 522 9 Agencies A GROUP of Arab banks has proposed terms on a US$26O million private placement for Baac* Nacteaal At Deseavalvimente Economico (BNDE) of Brazil, but a mandate has not yet been awarded. Sources said the placement, being arranged by Kuwait Foreign Trading, Contracting and Investment Co, and
      Agencies  -  522 words
    • 146 9 Renter THE WORLD Bank is likely to top the US debt market this year in Its first offering In the US in four years. Treasurer Eugene Rotberg said the timing of the offering will depend an haw interest rates behave, as well as the differentials between the
      Renter  -  146 words
    • 244 9 Reuter PORTUGAL'S right wing government has approved a legislative plan to redefine the limits between the private and public banking aectors which would allow nationals to open private banks, a Cabinet statement •aid. The previous government made three attempts to «pen major sectors of the economy, including banking
      Reuter  -  244 words
    • 278 9 NYT THE US Supreme Court has unanimously restored the right of bank holding companies to set up and manage "closed-end" investment funds. The ruling protects 10 closed-end funds that have portfolios valued at nearly US$7OO million. It also clears the way for bank holding companies
      NYT  -  278 words
    • 212 9 Reuter THE SWISS National Bank has invited commercial banks to a meeting next Tuesday to negotiate interest rates for medium term notes and possibly other interest rate adjustments. The decision to have a meeting was made after major commercial banks applied to the bank for
      Reuter  -  212 words
    • 1341 9 NEW YORK STOCK PRICES THE NEW YORK stock market on Thursday uncorked its most convincing rally in seven weeks in the heaviest trading since January 7 when turnover was a record 92.88 million shares. Analysts said the advance on heavy volume signalled renewed institutional interest, prompted
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    • 474 9  -  By LEE YOKE MENG GRINDLAY Brandts Insurance Services, a four-year-old local offshoot of the London-based Grindlays broking grup. is introducing a new policy for banks and financial institutions. Known as "The Blanket Bond", it meets the modernday financier's wish for a comprehensive policy to hedge
      474 words
    • 215 9 Reuter JAPAN'S Federation of Bankers' Associations said the Japanese postal savings system should be revised basically because it has expanded to a size without parallel in any other advanced industrial country by taking advantage of many privileges. In a special report, the
      Reuter  -  215 words
    • 75 9 AFP THE Bank of Japan is likely to reduce its official discounty rate in mid-March to cope' with overshadowed economic conditions. Informed sources said that the margin of the reduction will most likely be in the range of 0.75 per cent to one per cent. Japan's official discount
      AFP  -  75 words
    • 248 9 Reuter JAPAN'S Federation of Economic Organisations (Keidanren) will probably ask the Japanese government to give a yen credit to China. Keidanren chairman Yoshihiro Inayama said that problems arising from China's suspension of some industrial projects should be solved on a private basis. He understood that
      Reuter  -  248 words
    • 98 9 Reuter SUMITOMO Bank announced in Tokyo that it»€TS subsidiary, Sumitomo Bank of California, 3&s reached basic agreement to takeover California based Pacific City Bank and its four an estimated US$l4 milion. The agreement, subject to approval by shareholders of Pacific Cky, requires Japanese Finance Ministry and Calflfrnia government
      Reuter  -  98 words
    • MONEY AND EXCHANGE$
      • 265 9 SINGAPORE gold futures yesterday closed generally easier compared with oVernightlevels after fluctuating marginally throughout the session in thin trading. Total sales for the day was recorded at 60 lots while volume for kerbs was at 135 lots mainly centred in April, June and October contracts, dealers said. April closed
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      • 41 9 Had Tan New York 12 35B 12.85B-. 12.65S 1315S-, Zurich 12.4SB 12.8SB 12.85S TV bm 13.25S Singapore Tura 12 MB WW m 12.MB-" 12 70S 13.00S-" Closing prices in US dollars a troy ounc e. Source: Credit Suisse, S'pore.
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      • 185 9 THE dollar for overnight delivery closed firmer at 206.85 yen, compared with a 208.30 opening here, a 208.20/30 closing both in New York and on the West Coast and 207.65 here on Thursday, dealers said. Trading was moderate, with volume $877 million. Just before the close, the dollar firmed
        185 words
      • 68 9 RESULTS of tender held yesterday for 91<3ay bills (to be issued from Mar 2 to Mar 6) and 273day bills (to be issued on Mar 2): •1-(toy MM* 1(2-day Mite Offend: $100,000,000 $15,000,000 ;T Applied far: S237.300.000 $62,000,000 Altetted: $100,000,000 $15,000,000 Accepted Md» $96.31 $94.75 approximately Sf*
        68 words
      • 469 9 YESTERDAY was another day of thin and quiet trading on the foreign exchange market with the US dollar registering only negligible changes against major currencies as the market closed for the weekend. Against the yen, the US unit opened 206.30 in Tokyo, firmed slightly to close at 208.80/90
        469 words
      • 129 9 THE US dollar yesterday eased slightly against the mark in very quiet late trading, with many banks closed early ahead of the week and month end. The dollar closed at 2.1215/35 marks, having traded around that level for most of the day, compared to New York's 2.1240 60 It
        129 words
      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 14.5 per cent.
        22 words
      • 175 9 ASIAN ASIAN currency deposit interbank rates as at close on Feb 27. U8 DoUarxSpet) Offer Bid 7 days 1SH 1 month 171/16 IS 15/16 2 months 16 7/16 16 5/16 3 months 1613/*****1/16 6 months 16 1 9 months 16S 16'» 12 months 16 3/16 161/16 8wM Dai 1 month
        175 words
      • 46 9 RANGE of prices offered by discount houses on Feb 27: Overnight: 1%% Call deposits: «•<»* to T'.Sf CI—it Bayii( Scliiac 3-month Treasury bills 613/16 611/16 3-month Bank bills 13»» 13"i 3 months CD 12 5/16 12 3/16 6 months CD 12 1115/16 Source: National Discount Co
        46 words
      • 61 9 Opening quotes yesterday US 2.2150/60 Can 2 6599 6630 Cross -1.2007 10 D Mk 4.7225 300 D F1 5.2100 2200 S Fr 4.3500 625 B FY (con) 77.17/28 F FY 11.0900/1175 Lit 2268.75 2281.25 Yen 462.70 463.70 D Kr 14.7325 550 N Kr 12 0000 1000 S Kr 10.2800
        61 words

  • 2000 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. SECTION ONE INDUSTRIAL COMMERCIAL Allitd Choc (LSBB
    2,000 words
  • 179 10 SINGAPORE UNIT TBU8T (MJB-MONTAGl The Commerce The Savings Fund tor Mm t) (Maaagerr pneaa •r re* 0 A 3.78 2.10 3 97 2.21 Mar t) Union Spore Fund 1.53 10 S pore Prog FUnd i.« 10 INCOME BOND UNIT S pore Sec. Fund 2.3S 2.0 (Carnal prl Ma)
    179 words
  • 2749 10 1 *80/1981 H{gh Low Company Last Sale Gr>a Div +or- Gr*a Net Div YTd P/E Vol Day CVr COOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 372 300 184 280 420 170 352 935 406 610 245 Acma 220 Alcom 116 Allied Choc 138 BAT 203* BaU 60
    2,749 words
  • 1811 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 spectoea. mxsnuiu AMD (2.048 2 OSS) (7) 2.13 (1) 2.10 (9) 2 06
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  • 187 10 THE Ayer Maiek Batter Ctopujf BerM: AGM to be held at No. 22 (Upper floor of No.20), Jalan Gelanggang, Malacca on Feb 26 at 3 00 pm. 11 < FOLEX lad utiles Berfcad: AGM to be held in the Derby, Top Floor, Kuala Lumpur Hilton, Jalan Sultan Ismail,
    187 words
  • 672 10 THE Ml* pat to shame the aeeptta whs M said 111 vu a majsr iMade whea this level wag baldly bracked at the stoek exchaage yesterday. A weak aieralag kad glvea tkwe |yta| la watt far attractive prices a ehaaee to psaaee la, aad aaee
    672 words
  • 614 10 THE Kuala Lumpur stock market continued its shakeout yesterday with prices losing marginal to moderate ground. The setback was more severe in the early morning when certain counters were driven significantly lower. However, the market steadied back thereafter and some recovery was evident towards the
    614 words

  • COMPANY NEWS
    • 554 11 SYARIKAT Malaysia Textile Industries (MTI) has ventured into property development and real estate with the announcement on Thursday that it is acquiring a 70 per cent stake in Wahyu* Sdn, a private property development company. In an announcement to the Kuala Lumpur Stock Exchange, MTI
      554 words
    • 249 11 HONG Leong Industries (HLI), the Malaysian-based arm of the Hong Leong group, yesteday announced that it is negotiating to acquire a property development company. Scheduled to be its first venture into the- field of property development, the announcement was made following a Kuala
      249 words
    • 252 11 CYCLE and Carriage Bintang has confirmed a long rumoured one-far-two bonus issue as well as a one-for-five rights issue at $2.40 per share. The bonus issue of 17.5 million shares and rights of 7 million shares will raise the total paid-up capital from the existing
      252 words
    • 359 11 Carres 1 Ex Baaks Date Tstal far TstaJ far Payment Date Clese Payable the year Pre visas yea Beata 5.8*1 Mar 17 Mar 27 Apr 27 5.8* 25* Berjaya Kiwat 4*TEI Mar 4 Mar 16 Apr 4 4*TE 13* TE City Dw 20* NY A NY A NY
      359 words
    • 302 11 Company Particulars Ex Date Baaks Claw Aetna Proposed rights issue of 1 for 4 <g $2.80 per share NY A NYA Alc»m Proposed rights issue of 2 for 1 fe $1.70 per share NY A NYA API Proposed rights issue of 1 for 1 (a $1.00 per share
      302 words
    • 496 11  -  By THE CITY STAFF MARKET high-flier Malayan United Industries (MUI) has reported group pre-tax profit of MJ21.04 million for the year ended Dec 31, 1980, against just $1.60 million netted in 1979. Mui released the annual figures on Thursday. After an estimated tax charge of
      496 words
    • 376 11 PETALING Tin Bhd directors have brought positive news to shareholders the company has concluded an agreement with Kumpulan Perangsang Selangor Bhd (KPS) on the Kuala Langat lease, and plans have been set for a new dredge to be built. The agreement with KPS was
      376 words
    • 343 11 THE London Takeover Panel, iprntred by the Council far the Securities Industry, has issued a revised takeover cade closing regulatory loopholes evident since the last revision la inc. Industry saarces said the aew cade, which has aa statatary hacking, has heea circulating
      343 words
    • LATEST RESULTS
      • 18 11 said its unaudited consolidated net tangible asset backing per share at Jan 31 was $2.26.
        18 words
      • 54 11 re- ported an unaudited net profit of $19.4 million for 1980 ($20.5 million previously). A final dividend of 20 per cent less tax is recommended. Together with the interim dividend of 10 per cent, a total of 30 per cent is being made for the year. (30
        54 words
    • 555 11 mm*** by HOCK LOCK SIEW THE local stock market scaled new heights yesterday when the Straits Times Industrial index breached the 800-point level for the first time as investors swept aside all psychological resistance. That the market would crack the 800point barrier was a foregone conclusion and the
      by HOCK LOCK SIEW  -  555 words
    • 174 11 REPLYING to the Stock Exchange of Singapore, Hotel Malaysia has informed that as the acquisition of land will be made for cash, there will be no immediate effect on the net asset backing of its shares. But if the property is to be professionally revalued on acquisition, the
      174 words
  • Page 11 Advertisements
    • 178 11 V A v J A Suhurihr in Hii\iih-\\ linir\ mm unJ gt i 41 i\iur\ trrr Subscribe to Business Times directly and save $25 (Its like getting 41 issues free) Heres a great opportunity for you to join the increasing number of Business Times readers who subscribe directly to us.
      178 words

  • 219 12 Reuter PRICES at an auction (or ftxir lots of Crown land in Kowloon District yesterday were on average 15 io 20 per cent down on {hoee paid (or similar lots suctioned last month. T; Analysts in Hongkong jpid this indicates a weakening in
    Reuter  -  219 words
  • 448 12 PMtnat page MAS, when the latter was in Washington last year. Dr Chua has the sort of background which Dr Goh is said to want of the man who is to run the MAS. Though Mr Lim Kim San will be the managing director, he accepted the job
    448 words
  • 802 12 bONDON, Frt. Equities extended yesterday's late rally but government bonds were dull today, dealers said. The Financial Times index at 3pm was up €.2 points at 504.0. Id remained weak after yesterday's dividend cut but finished above the lows at 258, lOp lower on balance. Other sectors rallied
    802 words
  • 102 12 AP NEW YORK, Fri. The stock market kept its weeklong rally alive with another broad advance this morning. The Dow Jones average of 30 industrials rose 2.70 points to 969.51 in the first half hour. Gainers outnumbered losers by more than a 2 to 1 in
    AP  -  102 words
  • 175 12 Reuter NET foreign purchases of Japanese stocks rose to US$57B million in January from $174 million in December, and compared with a net foreign sales of $107 million a year earlier. The Japanese Finance Ministry said foreign purchases of Japanese stocks rose to $1.64
    Reuter  -  175 words
  • 107 12 AFP SINGAPORE Airlines (SIA) has challenged the validity of the Australian constitutional law on air navigation. In a Hobart court yesterday, SIA and Australia's internal airline, Trans Australian Airlines (TAA), were charged with selling discount fares below rates fixed by the Australian Department of Transport Civil
    AFP  -  107 words
  • Page 12 Advertisements
    • 214 12 APOLOGY To whom It may concern. I, S. DHANABALAN, hereby unreservedly withdraw all imputations against the professional capacity and competence of MR. CHIAM SEE TONG, made by me on December 21, 1980 and published in the issue of the Business Times for December 22,1980. I acknowledge that there was no
      214 words
    • 179 12 4V v I'M Once upon a time there was a small international airline, with a small fleet of aircraft, flying to a small number of destinations. But what it lacked in size it made up for in service. So much so, that today its fleet of aircraft has grown to
      179 words
  • Page 12 Miscellaneous

  • LEISURE TIMES
    • 1048 13  -  If it had been painted by someone of less eminence the moralists would not have spared it. But the fact that The Sculptor's Model is a masterpiece of Alma-Tadema softens the blow. Let JANET MARSH take us back to 1878 when the picture was first exhibited.
      1,048 words
    • 537 13 THE LOBBY Bar, Hilton Hotel, will not be the only regular night spot which allows one to drift into the mysterious world of jazz. The new contender is from the York Hotel and the "fireside" or music hearth is at the Carriage Bar. The
      537 words
    • 458 13  -  By JUNE LIM IT DEPICTS fairly typical Chinese garden scene with four mMc ladies attending to If happy boys at play. Bat this porcelain vase, 41 cm high, Is no ordinary vase. It origtaaied from the Kangrl period, AD ICS2 to 1722. Priced at It Is the
      458 words
    • 516 13  -  By CHOO AI LENG I ENJOY watching "All That Jazz". But whether the the average Singaporean's opinion will be similar when the film comes to the Cathay cinema is questionable. "All That Jazz" is unlikely to be well-received in Singapore not because it
      516 words
    • 212 14 TODAY GOLF: Sembawang: The first flight for the Individual Handicap Matchplay's first round will tee off at 1.30 this afternoon. Jurong: There will be a *C' strokeplay medal this afternoon. CROSS-COUNTRY: The Lotto Cross-Country Championships will be run at the Macßitchie Reservoir from 4pm this afternoon. TOMORROW
      212 words
    • 196 14 Reuter KIM SHEUNG Hack of South Korea yestrday defied incessant drizzle and cold weather to card a brilliant five-under-par 66 to capture the early lead in the second round of the US$l2O,OOO Hongkong Open golf championship. Kim, a frequent visitor to the colony's open
      Reuter  -  196 words
    • 939 14  -  MOTOBIM with Hermes LATE last year saw the entry of a brand new car in the 1600 cc bracket and after a weekend with the French Talbot So Lara SX automatic, it certainly looks like it is set to give the rest of the competition a
      939 words
    • 494 14  -  THE SINGAPORE OPEN By CHARMAINE CHAN A HOLE-IN-ONE at the Singapore Open (March 26 to 29 at the Bukit Course) will mean a Datsun and maybe $50,000. These are among the $145,000 prize monies offered from seventeen sponsors. Mr Edmund Wong, the Secretary of the
      494 words
    • 936 14  -  MS© By RONALD KOW THE MAN most of us will probably be keeping a lookout for at the National Stadium tomorrow evening must be Malaysian skipper Soh Chin Aun a.k.a the Towkay. Leading Malacca against Singapore in tomorrow night's Malaysia Cup soccer match, it will be
      936 words
    • 595 14 THE GIRARD-PERRE-GAUX Tennis Classic '81 (March 11 to 15) was officially inaugurated at the Singapore Tennis Centre yesterday morning with the handing over of the tournament trophy and a $31,200 cheque. Dr Tan Eng Liang, chairman of the Singapore Sports Council and also the
      595 words
    • 160 14 TEN countries will compete in the men's and women's Asian zone qualifying round of the World Cup volleyball championships between March 13 and 20 in Hongkong. South Korea and China, pre-tournament favourites for the men's title, are drawn into Group A and B respectively. Hongkong,
      160 words
  • Page 13 Advertisements
    • 96 13 BUSINESS TIMES GIVES YOU THE EDGE f nut YOU get to drive away a Datsun and you may even receive $50,0001 That's the prize for a hole-in-one at the Singapore Open which will be held from March 26 to 29. CHARMAINE CHAN tells you more. OFFICIAL inauguration of the Girard-Perregaux
      96 words
    • 10 13 IBUSINESS TIMES When we say business we mean just that
      10 words
  • Page 13 Miscellaneous
    • 448 13 WHAT WHERE CONCERTS THE SINGAPORE Symphony Orchestra is honoured to present two guest artistes this evening pianist Margaret Tan and conductor losif Conta from Rumania. Choo Hoey is still on his tour of Greece and East Europe. Remember the performance starts at 8.15pm at the Victoria Concert Hall. MIME PETER
      448 words