The Business Times, 14 March 1981

Total Pages: 14
1 14 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 107/1/81 SATURDAY, MARCH 14,1*81 60 CENTS
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  • BRIEFLY...
    • 79 1 Reuter LONDON, Fri. The price of gold was US$l3 up on yesterday's level after fluctuating during the week, with dealers wondering whether it had reached the bottom of its recent downward curve. Gold graded at $491.50 an ounce on European bullion markets, compared with $478 yesterday. Dealers
      Reuter  -  79 words
    • 71 1 AFP VIENNA, Fri. Rich and poor countries preparing a North-South summit tentatively set for next June in Mexico appeared likely to agree on a three-month postponement to secure the participation of President Reagan. But delegates said this still remained an open question as foreign ministers of
      AFP  -  71 words
    • 81 1 Reuter PARIS, Fri. Saudi Arabia has taken measures to reduce its oil production by between 500,000 and 600,000 barrels a day from April 1 from the current 10 to 10.3 million barrels a day. The magazine Arab Oil and Gas said Saudi Arabia has notified
      Reuter  -  81 words
    • 65 1 AP WARSAW, Fri. Independent union leaders from Warsaw and Gdansk rushed to Radom, central Poland in an effort to defuse the threat of new strikes there. Meanwhile, Solidarity leaders in Warsaw met to discuss the detention yesterday of Adam Michnik by the police for three hours, but
      AP  -  65 words
    • 50 1 LONDON, Fri. Free hospital treatment for foreigners under Britain's national health service is to end after 32 years. Charges ranging from £65 (US$l45) to £2500 a day, depending on the hospital, will be introduced next Oct 1, Social Services Secretary Patrick Jenkin told the House of Commons).
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    • 97 1 AFP KUALA LUMPUR, Fri. The High Court today reserved judgement in a Malaysian Chinese Association (MCA) intra-party suit seeking to declare the 1979 election of top office-bearers headed by the president, Datuk Lee San Choon, null and void. Mr Justice Hashim Yeop Sani reserved judgment after hearing submissions
      AFP  -  97 words
    • 54 1 Reuter NEW DELHI, Fri. A new communist party which supports Prime Minister Indira Gandhi has been set up in India. The first congress of the All India Communist Party (AICP), a breakaway group of the proMoscow Communist Party of India (CPI), opened in the north Indian city
      Reuter  -  54 words
  • Chief Price Changes
    • 125 1 Rises M U I 1990 40 Supreme Corpn 645 25 G E Life 1720 20 Spore Land 860 15 Lien Hoe 280 5 Bolton 386 2 Malayawata 260 2 Spore Glass 295 1 Falls Metro Hldgs 900 -100 Rothmans 710 -85 O U E 1040 -60 Pegi Msia 810
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    • Article, Illustration
      155 1 Rises Supreme 700 30 Falls Oriental 900 -75 Bousteab 890 -70 Perlis 1000 -70 S Trading 1020 -60 Rahman Hyd 895 -55 S pore Land 930 -50 OCBC 1530 -50 D Keramat 1600 -50 Dunlop 760 -40 Isl Pen 1120 -40 Magnum 1180 -40 Paramount 725 -35 Hong
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  • 527 1  -  INDEX FALLS 24.8 POINTS By CATHERINE ONG A SELLING fever raged across the Singapore stock market yesterday, triggering off one of the sharpest drops in share prices in recent months. As speculators scrambled to clear their positions amid the falling prices, the Straits Times industrial
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  • 255 1 SINGAPORE companies have found another novel way of financing with the issue of the first floating rate note (FRN) to be denominated in local cySingapore Factory Development Ltd, a wholly owned subsidiary of the Development of Singapore is issuing a $75 million FRN. Interest
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  • 444 1  -  By RICHARD SEAH EDITORIAL Ofice, which presented the US$l,9OO Asia Award at Shangri-La hotel on Monday, is offering yet another award. The International Award to Export '81, as the award is called, will be presented by the Spanish publishing company at Parklane Hotel in London on
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  • 370 1 RESPONSE to the personnel recruitment drive for senior managers and engineers by Petrochemical Corporation of Singapore (PCS) the upstream company of the $2 billion petrochemical complex now under construction has been overwhelming. PCS director Junzaburo Nishiwaki said the company has received more than 200 applications for the
    370 words
  • 293 1 DEVELOPMENT Buk of Singapore will lower its prime lending rate by half point to ISVi per cent oa Monday, a move that is likely to spark off similar decrease by ether major banks. Already, United Overseas Bank kas indicated tkat It
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  • 340 1  -  By SIOW LI SEN AUSTRALIA'S largest department store chain, Myer Emporium, is taking an equity interest in Parkway Parade, the $250 million shopping complex to be built at Marine Parade. It will also operate an upmarket department store occupying 8,000 square metres. This store will
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  • 138 1 MAXIM'S is coming to town. Maxim's Ltd, operators of the super-snob Maxim's restaurant in Paris and its several branches in major world cities, will manage a restaurant in the soon-to-be-completed Hotel Pavilion Intercontinental. The Singapore restaurant, also to be named Maxim's, is likely to be a
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  • Page 1 Advertisements
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    • 65 1 LEISURE TIMES MALAYSIA diversifies energy FIRE safety memret far US TASK force suggests curbs m Tokyo cars 3 ENCOURAGING wsrkers to think creatively < CARLSBERG "cheers" far shareholders 11 INDONESIA still haying geld despite paper leas 12 CROSSWORD C, TV AND RADIO WHERE TO WINE AND DINE 8 SHARE INFORMATION
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    • 76 1 The Singapore's Straits Business Times World DIRECTORY at your Qf Fingertips Singapore (Buku Merah) Leader...page C STANLEY LEASINGHAM At the Clare Leasingham N/ialley, 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
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  • REGIONAL
    • 620 2 Reuter PRESIDENT Marcos has pledged that the forthcoming plebiscite and presidential election in the Philippines would be clean. Addressing the nation in a two hour television and radio interview, Marcos, 63, urged Filipinos to Support the proposed constitutional amendments to create a
      Reuter  -  620 words
    • 709 2 THE PATTERN of Malaysia's energy consumption is not likely to change much in the next five years despite the availability of alternative energy sources. Liquid fuel will continue to be the mainstay of energy supply. The Fourth Malaysia Plan will, however, mark the beginning of
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    • 168 2 AFP CHINA has decided to merge a number of inefficient industries tp help promote its current economic restructuring. The Xinhua News Agency said the decision was taken at a meeting of the State Council's office for the reform of the management system and the
      AFP  -  168 words
    • 583 2 THE Heavy Industries Corporation of Malaysia (Hicom), established earlier this year, will operate "like any other private company". Malaysian Industrial Development Authority (Mida) chairman Datuk Jamil Jan, who is also chairman of Hicom, has made this unequivocal statement to assure industrialists that the formation of Hicom
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    • 467 2 AP PRIME Minister Prem Tinsulanonda begins his second year as head of the Thai government with a reorganised coalition which analysts fear may not last till the next election in two years time. The inclusion of minority political parties and nonpartisan technocrats
      AP  -  467 words
    • 164 2 AFP THE AUSTRALIAN Council of Trade Unions (Actu) will oppose immigration which exploits the Australian unemployment situation. In a major policy change this week, Actu decided, at its special conference in Perth, to send its assistant secretary Mr Bill Kelly to the United Kingdom next
      AFP  -  164 words
    • 370 2 Reuter, UPI JAPANESE steel production fell last month to its lowest level in three years in line with Japan's economic slowdown. Steel production, which was a cornerstone of Japan's economic success, slumped in February to 7.79 million tonnes, down nearly 10 per cent from the same
      Reuter,; UPI  -  370 words
    • THE REGION IN BRIEF
      • 417 2 Agencies THE 500,000-strong Malaysian Trade Union Congress (MTUC) yesterday launched a nation-wide campaign to boycott soft drinks and condensed milk in protest against rising prices of consumer goods. A mammoth rally was held at the MTUC headquarters in Kuala Lumpur on Thursday night addressed by union leaders,
        Agencies  -  417 words
    • 873 2 ARRIVALS Service Local Operator Number Time From PAA PA005 0030 JEK/SFO HKG MAS MH601 0630 KUL CAL CI331 0700 TPE FT FT71 0710 JFK ORD KUL SIA SQI01 0815 KUL MAS MH605 0830 KUL MAS MH621 0635 PEN MAS MH671 0930 KUL SIA SQ20I 1000 HLP CAL
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  • Page 2 Advertisements
    • 40 2 r i 1 The 5 day course in thinking £E2?ES n "'sc. °'th<. r f,v thinL- bv f you t- at all s.-sfcSSJssS Distributed by FEDERAL PUBLICATIONS S3 1 New Industrial Road, Singapore 1953 A member of the Times Organisation
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  • OVERSEAS
    • 394 3 UPI THE United States is looking for a replacement for the Bank of England to help carry out a key part of the agreement that freed the 52 American hostages last January. Treasury Department spokesman Bob Levine confirmed in Washington that the Bank
      UPI  -  394 words
    • 418 3 UPI REVOLT boiled up on Thursday among British Prime Minister Margaret Thatchers' Conservative Party followers against her government's severe belt tightening Budget. But she firmly said she will not relax her austerity policies. Their anger was particularly levelled against a 20pence hike in petrol
      UPI  -  418 words
    • 216 3 AP SHELL and British Petroleum have announced big drops in their profits for 1980 because of the world recession. Royal Dutch-Shell announced an after-tax profit for 1980 of £2.2 billion, down from £3.05 billion in 1979. The state-controlled British Petroleum said its aftertax profits
      AP  -  216 words
    • 320 3 Reuter THE UNITED Nations Conference on the Law of the Sea remained anchored yesterday by a dispute over its presidency, amid reports that the matter might be put to a vote if attempts at a private settlement fail. Since a 10-minute public meeting at the
      Reuter  -  320 words
    • 414 3 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Singa (0530 hauls after Yuheng) 29 30 Cherry Ruby (1100 tide, after Cherry Singa hauls Cherry Manis sails) 27/28 Chang Wei (2300) 18 Hulin (after Achille Lauro) 44 Kim Ann (Passenger) (1100 tide, after Waheng Cherry Manis) 24 25 Kota Machan
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    • 544 3 Agencies AN AMERICAN congressional task force has given transportation secretary Drew Lewis a series of recommendations, which include restrictions on foreign imports, to help the car industry get back on its feet. Representative Elwood Hillis, an Indiana Republican, and Representative William Brodhead, a
      Agencies  -  544 words
    • 194 3 Reuter US NON-FARM businesses plan to increase plant and equipment spending, after adjustment for inflation, by one per cent in 1981. A Commerce Department survey taken in January and February found projected 1981 capital spending of U*****.7 billion, down $400 million from what the
      Reuter  -  194 words
    • 89 3 Reuter ISRAEL has officially announced that the Palestinian autonomy negotiations would only be renewed after the Israeli elections scheduled for June 30. Reporting this, Israel Radio quoted Justice Minister Moshe Nissim, who told the ruling Likud Party that this had been clarified after diplomatic contacts with Egypt
      Reuter  -  89 words
    • 359 3 Reuter MILITARY chiefs of America argued publicly in Congress on Thursday over who should command a special force designed to move swiftly into world troublespots. The Rapid Deployment Force (RDF), composed of units from all major branches of the armed forces, is intended to enable the United
      Reuter  -  359 words
    • 342 3 Reuter THE month-old truce between the Polish government and Solidarity is under fresh strain after union leaders in the central Polish city of Radom threatened to strike and the authorities detained another dissident. Mr Adam Michnik, a coleader of the Self-Defence Committee (KOR), was
      Reuter  -  342 words
    • WORLD IN BRIEF
      • 440 3 Agencies PASSENGERS at London's Heathrow airport and five airports in Scotland faced delays of up to six hours yesterday as civil servants escalated a nation-wide campaign of disruption in a pay dispute with the government. About 1,000 customs and immigration staff at Heathrow, Britain's main airport, and
        Agencies  -  440 words
  • Page 3 Advertisements
    • 199 3 These Ford vans and trucks are built stronger to last longer. <S> W Ford Econovan m* c -or*; Fore/ Courier V. Imported direct from Japan. Now there are vehicles that can make more money for you Ford trucks and vans have a longestablished and enviable reputation for rugged reliability. They
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  • RAW MATERIALS
    • 263 4 THE market resumed its downward drift this week, with new current month April losing four cents overall, says Holiday, Cutler, Bath and Company in its latest review of the Singapore and Malaysian rubber markets. Again, fresh features were lacking and trading was light in quiet conditions.
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    • 167 4 SOYBEAN futures in Chicago on Thursday closed on top of a 20 cent range, up 16 1 4 to 14 1 2 cents a bushel in active trade. Late commercial and professional buying along with general lack of selling sparked local short-covering which carried values to new day's highs,
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    • 186 4 WHEAT futures in Chicago on Thursday closed on top of a 9 1 j cent range, up BJ48 J 4 to 6 1 2 cents a bushel in mostly local trade. Traders called the advance a local short-covering rally in an oversold market. Thursday's traders commitment report, which was
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    • 234 4 THE Singapore market yesterday closed easier with April One RSS buyers quoted at 271.50 cents per kilo, down two cents from Thursday's close, dealers said. Prices weakened 1.50 cents during the morning session on lower overnight London advices, they said. The afternoon market was slightly lower on some speculative
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    • 345 4 RAS prices in cents per kilo yesterday Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 K 5.5. prompt f o b 266.00 267.00N 265.50 266.50N Int. 1 R.S.S. April 272.50 273.00 271.50 272 00 Int. 1 R.S.S. May 276.00 276 50 275.00 275 50
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    • 123 4 NOON SSR and SMR prices yesterday HAS April May (Current Mth) (Forward Mth) SSR 20 Buyers Sellers Buyera Sellers (1-ton pallet) 242.50 244-508 244 50 246 SON SSR 50 11 ton pallet) 239 00 241 OON 241 00 243 OON MRELB April May SMR CV 11 ton
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    • 87 4 THE STRAITS tin price in Penang yesterday recovered 13 cents to M $31.13 a kilo and was within the International Tin Agreement's middle range price of $3t.fl to $32.74, dealers said. Sterling's strength against the Malaysian dollar, lower offerings of tin and a steadier overnight London Metal Exchange,
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    • 34 4 Rubber: March 13 Singapore: April: 271.50 cents (down 2.00 cents) Malaysia: April: 292.00 cents (down 3.00 cents) Tin: M 530.03 per kilo (up 13 cents) Official offering: 136.27 tonnes (down 45.73 tonnes)
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    • 98 4 LONDON commodity markets this week reported limited impact from the two per cent reduction in minimum lending rate announced in Tuesday's British budget. The interest rate was generally expected to fall as much as three per cent and metal dealers said sterling's subsequent rise on Wednesday
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    • 184 4 CHINESE Produce Exchange, Singapore, noon closing prices per 111 kg yesterday. Coconut oU: Bulk fob 1117.00 sellers, old drum (in second hand drum) fob $130.00 sellers, new drum fob $136 00 sellers Copra: Mixed (loose) $66 00 buyers. Pepper: Muntok white pepper fob Asta NLW $420 00 sellers.
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    • 179 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Cotton yarn: China Blue Phoenix 20s 2,300 32s 2,800, 40s 3.045 (per bale of 400 lbs). Piece goods: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 342 4 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.30, 100 per cent second class 1.08, 100 per cent third class 1.05, 25 per cent new crop no stock, B-10 per cent no stock. THAI BROKEN: A-super 0.80, Special
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    • 901 4 COFFEE: Robusta futures yesterday closed the morning steady with gains from Thursday of £11 basis May at £1,024 to £3 a tonne. Turnover was 994 lots including four options and around 290 lots of crossed trades. They said Ivory Coast grade one for shipment April May June was
      901 words
    • 136 4 THE Kuala Lumpur market yesterday recovered on light covering in quiet trading, dealers said. In March, the central region was traded at Ms99o a tonne and south rallied to $997.50. In April, the southern region rose $16.50 to $976.50. The refined market continued featureless despite Pakistan's total purchase
      136 words
  • ASIAN STOCKS
    • 497 4 TOKYO SHARE prices yesterday closed lower for the fourth consecutive day in thin trading, led by speculatives and machines, dealers said. The market average fell 29.87 to close at 6,956.52, with volume 180 million shares. The Tokyo Stock Exchange index closed at 502.80, down 1.20. Some
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    • 315 4 BUYERS dominated early trading yesterday as bears turned to bulls after Thursday's sharp gains. Mid morning trading was thin as the market slipped from its early highs. End of the week profittaking combined with some margin calls after the sharp drops earlier in the week pushed the index down
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    • 334 4 THE market yesterday closed stronger after moderate buying centered mainly on key metal miners sparked by higher world gold prices and more than average buying from London ahead of the close of accounts, brokers said. The All-Ordinaries index rose 8.2 points to 670.7, while the all industrials rose 1.9
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    • 268 4 STOCK prices yesterday closed generally steady in quiet trading, dealers said. First Trust, Saha Union, Siam Cement and Mah Boonkrong Drying and Silo closed unchanged at 67.50, 199, 270 and 182 baht respectively. Asia Credit rose one baht to 112 and Charoong Thai Wire gained three to 169 baht.
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    • 135 4 THE stock market yesterday was mixed as turnover fell slightly to 2.1 million pesos from 2.5 million. Gainers included Atlas Con B, Seafront and Ist Phil Holdings while the lone loser was San Miguel B. MAR 13 Pesos Acoje Mining 0056 -0 0004 AUas Con A Alias Con B.
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    • 60 4 FINANCIAL TIMES INDUSTRIALS Thursday 481.0 Wednesday 470.0 Week Ago 492.2 DOW JONES AVERAGE INDUSTRIALS Thursday 989 82 Wednesday 967 67 Week Ago 964 62 H.K.HANG SENG Friday 1323 26 Thursday 1347 48 Week Ago 1386 83 AUSTRALIAN INDUSTRIALS Friday «86.5 Thursday 694 8 Week Ago 090 2 ALL
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  • Page 4 Advertisements
    • 285 4 The ILiFEI Library Of Photography helps you to see great picture possibilitiesall around you... So many outstanding photographs are of subjects you see or pass by every day A pensive young girl looking through a window. A city park at sunrise. Or this shy 3 year old captured by the
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  • TRADE AND INDUSTRY
    • 175 5 JAPAN'S largest producer of instant noodles, Nissin Foods, has spent about $14 million in building its factory in Singapore. Building and civil construction work on the 2.5 hectare site is estimated to cost $6.5 million and the plant, $7.75 million. The plant is at the
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    • 203 5 A SINGAPORE steel foundry, Jurong Alloys, is expanding its export market. In recent months it has begun shipping steel and alloy castings to South America and Western Europe. The company intends to sell to North America and the Asian Pacific basin as well. Jurong Alloys,
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    • 171 5 THE United Overseas Bank group has promoted David Wong hong Kok from senior manager to chief manager and Robert Chan Tze Leung, Goh Tuck Wah, Huang Soon Ngak and Khor Thiam Chye from managers to senior managers. Mr Wong, 34, is in charge of the group's internal
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    • 481 5 SEMINARS AND COURSES Mar 19-20: Credit Management, Hilton Hotel, Acumen Credit Services Mar 19-20: Effective Sales Management, Hyatt Hotel, Price Waterhouse Associates Mar 19-21: Breakthrough Large Sales in Turbulent Times, SIM Conference Room (3rd floor, Thong Teck Building), Singapore Institute of Management Mar 22-25: Regional Cooperative Seminar, Regional
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    • 177 5 TEN professionals from the catering industry and the fields of food science and architecture will be delivering papers on in-flight catering at a conference to be held in Singapore in conjunction with the Airports Towards the Year 2000 exhibition from March 24 to 28. Four
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    • 91 5 EMPLOYERS should play a more active role in the rehabilitation of ex-drug addict. This point was made by the acting Minister for Social Affairs, Dr Ahmad Mattar, at the close of the International Drug Conference yesterday. "The ultimate re-integra-tion of the drug dependent person into the community can
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    • 154 5 THE Science Council of Singapore is organising a seminar on March 31 to encourage the exchange of ideas on manpower training in civil engineering industries. The speakers will include representatives of government departments, statutory boards, tertiary institutions and industry. The papers to be presented include: Practical
      154 words
    • 340 5 THE buoyancy in the transport industry has prompted a local company engaged in warehousing, transport and freight-forwarding to computerise its operations. Sen Kee Transportation, formed in 1968, has invested $1.8 million in a 3 2-hectare container depot-cum-ware-house and office complex in Jurong. It is also building an additional
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    • 420 5 PROTECTIONISM came under criticism again yesterday, but the criticism this time is not confined to Western industrialised countries. Also under attack were other countries which in one way or another have not abided by the rules of free trade. The criticism was made by M
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  • Page 5 Advertisements
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  • 389 6 THE CIVIL service is not known for being lean in staffing and efficient in functioning. As an employee, you get security, standard office hours and steady, if slow, progress up the salary scale. But as one who must deal with civil servants, all too often you
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  • 360 6 FOOD-LOVERS will without doubt welcome the news that Maxim's, the world famous restaurant, is to open a branch in Singapore. And it is also without doubt that Maxim's will be packing them in when it finally opens its gilded doors. The fact that Singaporeans are
    360 words
  • 1165 6 Japanese quality control circles are well-known in the West. Companies in Japan also encourage workers to think creatively about their jobs and offer suggestions for improvements. By combining the best features of the QC circle system and the suggestion system, Japan is reaping even
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  • 636 6  -  By DAVID MINTHORN AP AT LAST there is a Moscow office building for foreigners as plush as a New York skyscraper. However, five months after its opening, the Moscow International Trade Centre is less than half filled with foreign businessmen. The glass-and-concrete high-rise situated three kilometres from
    AP  -  636 words
  • Page 6 Miscellaneous
    • 639 6 -H-OIE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Tail ender (6) 7 In any setting, Timon is in his element! (8) 8 Like the best part of the picture (4) 10 Away player (6) 11 Ten years more than one short month (6) 14 The object of a tip (3) 16 Creatures
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    • 853 6 11l irj/KIROTIOII BATIK MAKING LEARNING to make batik may aot be year Idea ef aa exciting Satarday alght bat If yea are at heme watching TV, why aet? "Batiks Yea Caa Make" ea Chaaael 8 at 8.41 Is a 20miaate doeameatary ea hew to make beaattfal batik Boxlag faas sheald
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  • 1729 7 HOTEL INDUSTRY There is no price too great for human safety. Three major hotel fires in the United States recently took a cumulative death toll of 118; hundreds more were injured. RAY ANG discusses the fire safety measures that hotel operators must take to guard
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  • 284 7 AP TRUST House Forte, the giant British-based international hotel chain, launched a takeover bid on Thursday for London's Savoy Hotel and was rejected as "totally unacceptable" by the elegant but financially ailing Savoy group. Directors of prosperous Trust House Forte (THF) made a £58
    AP  -  284 words
  • 489 7  -  By GLENN FOWLER NYT NEW YORK City's hotel industry has fallen on leaner times since the pre-Christmas boom. Hoteliers say a variety of factors are to blame. Higher airline fares and a prolonged national recession have cut domestic travel. And weakened currencies in
    NYT  -  489 words
  • 794 7  -  FORUH with RUSSELL BAKER NYT ONE of the papers ran a picture of Indiana's electric chair the other day to illustrate a story about an impending execution. The curious thing was that it looked exactly like the first electric chair I ever saw. That was
    NYT  -  794 words
  • Page 7 Advertisements
    • 336 7 SURER 1 > s s IS I V I II VV TK >* 5.S' i;!"o\iH»i» HI Till JtfliiV J 7 J THE DREAM MAKERS Set in the ruthless, unconventional world of the film business, their story spans continents in a whirlwind of action, violence and desire. For the talented few,
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 256 8 MAR 12 Frs CORBE1LLE Alr-Llqulde B S N Gervals Danone C S F (Thomson Csf) Cle Francalse des Pettoles Compagnle Fln»nclere Compagnle Generale Credit Fonder De France Hachette (Librairle) Machines Bull Mlchelln (B). Panbas Pechlney Clglne 490 1029 374 225 395 398 360 57.80 781 250 100.20 -1.1 -1
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      • 207 8 MAR 12 S Dm 4-/-Aeg-Telefunk*n 8200B 0 2 Akzo 18.00 unch Allz Leben 1020.00 15 Allz Vera ***** 4-4 BASF 128 JOB Bay H T Wbank *****B Bay Vbank ***** -13 Bayer U340B BBC 250 50 8.5 BMW 154 50B Casxlla ***** Chem Verw ***** Commerzbank 132.80 Contl Gumml
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      • 92 8 MAR 12 Fn FORWARD MARKET Acec 2M unch Arbrd nao 10 Astur 3(3 3 9S0 -a Bru-Lamb 880 +14 131# 16 Cock IBS 2 280 unch Ebes IMS 5 Electrobel 3180 25 Ob-In no-Bm 2000 20 1330 >90 Hobok 2230 ♦20 Petro 4070 20 Ryi Dutch 1474 -1686 Sidro
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      • 116 8 MAR 12 Fls abn 286 00 >2 72.80 1.7 1850 02 amev 9180 4 0.6 ***** -2 55.20 23.00 ♦2 45.00 -08 52 60 -0^ 215 00 55 10 38 20 29 00 CmJve Delft 186 00 -3 Dell Ml] 62.00 -12 Ennta 143.00 unch 3850 140 00B 30
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      • 180 8 MAR 12 Francs Actions Sulsses Alusulsse Br Alusulsae Ref Brown Boveri Br Clba Oelfj Br. Clba Deify r c Clba Oelfy Ref Credit Sulsar Br Credit Suisse Ref Elektrowatt Br. Qeorfe Fischer Br Globus Pr Hero Br Hoffman La Roche 1/lfluHolderbank Br Interfood Br Jelmoll Br Motor-Columbus Nestle Br
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      • 99 8 MAR 12 Lire 4/Anlr mo unc h Assoc Oen *****0 -1000 BtstOfl 711 -025 CentraJe 1200 Flat 3400 110 88 -1.75 Gen Immob Mil >66 IF! Prt 6550 130 Italcementl ***** 4 3490 1000 -5 lUlslder 300 Magnet] M PI 925 -1 Marelli Ere -15 Med lob Z 9S000
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      • 184 8 MAR 12 C Abtubl 32 unch /Yinn 4 MS IS S Bulk Mont Bank No** ScoU* Belt Tel 28 s -H MS -H IIS unch B*th Corp BP Can Ltd- «1H Jth 90 JOS unch Camp Red La*« 1 «5S 1S Canpac ln» Pf Carting OXeefe Comlnco Cons Bath
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      • 321 8 MAR 12 Rand INDUSTRIALS A Alpha MS 5 A be room MO 10 AE And CI 825 unch AMIC 2400B Barlows 986 unch Cg Sugar 1825 -25 r-fc A 500 Currte Finance 215 -5 De Beers Ind 2650B unch F4c n n 570 unch Edgars ***** unch Eve ready
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  • Page 8 Advertisements
    • 624 8 See Page 4 for Asian stocks and Page 9 for NYSE prices Where to wine,dine and entertain t The American Express Card. Don't leave home without it. OQOQO Inn Of Happiness Dine Dine Cantonese style. Szechiian style. The Inn of Happiness brings together the best of two culinary worlds. Two
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    • 129 8 Whatever your taste, the Cockpit Hotel makes it great. 3 <» 7T Dragon Palace Restaurant Siamese Seafood We re famous for our Restaurant Cantonese Cuisine. The Siamese Seafood Restaurant is as good as Bangkok! IE WM Victoria Bar The Coffee-House Relax in an atmosphere of For informal meals and elegant
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  • BANKING AND FINANCE
    • 601 9 NYT AMID mounting opposition, the US Senate has considered legislation that would extend a ban on charging credit card users an extra fee when they use their cards. The legislation passed the House with little opposition several weeks ago, but questions have now arisen about who would
      NYT  -  601 words
    • 224 9 THĔ JAPANESE Finance Ministry is considering a request from banks for permission to engage in gold transaction» when the 1927 banking law is am Aided. However, the ministry has taken no decision yet on the matter and described as speculation a Nihon Keizai newspaper report
      224 words
    • 118 9 DR HO SOON LYE, chairman of the Geyland Serai Citizens' Consultative Committee, will officially open the new premises of the Chartered Bank's Geylang branch today. The branch had been situated at Paya Lebar Road since IX7. Last month, it moved to the ground floor of the new
      118 words
    • MONEY AND EXCHANGE$
      • 442 9 THE US dollar closed firmer against the local dollar yesterday but narrow movements characterised trading between the US unit and other major currencies. The US unit opened at 2.1070 against the local dollar and was traded as high as 2.1165 before stabilising at 2.1090/10. The closing rate was
        442 words
      • 262 9 SINGAPORE gold futures yesterday closed generally firmer compared with overnight levels in thin trading. Opening quotations were marked up between US$6 to $8 an ounce following the metal's firmness in New York overnight, then held steady during the morning's trading before rising again in the afternoon on local short-covering
        262 words
      • 43 9 W<4 Tin New York 11 90B 11 70B 12 20S 12.00S Zurich 11 80B 11 60B 12.20S 12 00S Than Wed Singapore u bob 11 75B 12 20S 1215S Closing prices in US dollars a troy ounce Source: Credit Suisse, S'pore.
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      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 14.4 per cent.
        22 words
      • 195 9 ASIAN RATES ASIAN currency deposit interbank rates as at close on Mar 13. Closing Asian dollar certificates of deposit for prime names on Mar 13: US Dollars(Spot) Offer Bid 7 days 15'. 15 1 month 15 9/16 15 7/16 2 months 15't 15' J 3 months 15 l 15' 2
        195 words
      • 54 9 RANGE of prices offered by discount houses on Mar 13: Overnight: TA to 7 1 < r i Call deposits: 3*« to T r i Cloaiag Buyiag Selling 3-month Treasury bills 6*» 6' a 3-month Bank bills 12'-t 12"» 3 months CD 11 10'» 6 months CD 11 10
        54 words
      • 149 9 THE dollar for overnight delivery yesterday closed slightly firmer at 207.65 yen, compared with a 207.40 opening here, 207.25 35 close both in New York and on the West Coast and 207.15 here on Thursday, delaers said. Trading was light, with volume US$675 million. The dollar fluctuated narrowly between
        149 words
      • 167 9 THE dollar yesterday was generally steady against other currencies in very quiet late trading, dealers said. Market opinion on the dollar was very varied, and although slightly firmer eurodollar interest rates helped keep it steady, there were no major factors influencing the market. Sterling was little changed at $2.2235/45
        167 words
      • 109 9 CURRENCIES yesterday opened little changed, with trading dull in the absence of any major news developments to stimulate interest, dealers said. The dollar was a touch softer at the outset against sterling and the Swiss franc, and slightly harder against the mark and yen. Eurodollar deposit rates opened a
        109 words
      • 48 9 FRANKFURT exchanges opening quotes on Mar 13: US 2.1090,1106 Stg 4.685 695 Can 1.7677 7897 D F1 90.28 41 S FY 109.21 36 Lit 2.059 64 F Fr- 42.39 45 NKr- 39 .11 16 B Ft (con) 6.094 103 B Fr (fin) 5.925 935 Yen 1.0164 0180
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      • 50 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Mar 16 to 20: Offered: $80,000,000 Applied for: $264,580,000. Allotted: $80,000,000 Aceepted bids: $96.33 approximately 30 per cent and higher bids in full. Average rate of dUeooat on allotment: 6.675 per cent per annum.
        50 words
    • 330 9 THE NINTH ninth meeting of the board of directors of the Asian Clearing Union (ACU) will be held in Colombo from March 20 to 22. The directors of the ACU are the governors of the central banks of the seven member countries Bangladesh, Burma,
      330 words
    • 757 9  -  By LEE YOKE MENG HONG LEONG Finance. United Oveseas Finance (UOF) and Singapore Finance retained the top three positions on the finance companies' list compiled by Consulton Research of Singapore. Stalwart Hong Leong set the pace again with a creditable growth of 29.5 per cent in
      757 words
    • 422 9 NYT THE BANK of America's recent US$l5O million purchase of Banco Internacional, Argentina's 13th-largest commercial bank, gives BofA the largest branch system of any foreign bank operating in Argentina. The acquisition of Banco Internacional which has $300 million in deposits, a loan portfolio of $167 million
      NYT  -  422 words
    • 1230 9 NEW YORK STOCK MARKET FALLING interest rates and takeover speculation sent New York stork prices on Thursday sharply higher in active trading. Chemical Bank announced it would cut its prime rate to 17 1 per cent from 18 per cent yesterday, just two days after the banking industry
      1,230 words
    • 106 9 Reuter THE eight-year US$5O million Eurocredit for Sri Lanka's Air Lanka has been oversubscribed. The loan which carries interest at 1 per cent above London interbank offered rates (Libor) and has a 1 2 per cent commitment fee, was mandated to Chase Manhattan Asia, which
      Reuter  -  106 words
  • Page 9 Advertisements
    • 102 9 MODERN MANAGEMENT READINGS drucker management drucker managing for results drucker the practixMif manaftiiuTit 7TTT [IF!P? VI'I IV r t y* Alpi)Vy 'in UA: the effective executivv THF.HVVViERIAI.WMAN SYSTEMS r. mi PfTERCSANDCRSON FINANCIAL PLANNING FOR MANAGERS ilfz Oo| KIXAXCK AM) ACCOUNTS FOR MANAGERS DwmundGod, fYMIMI IMWATf Formula tor Bwme* Survival r
      102 words

  • 1948 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 Acma (3.506) Allied
    1,948 words
  • 179 10 SINGAPORE UNIT TWJ8T (MiMitrt' prices for Mar It) The Commerce 3 64 3.83 The Savings Fund 2 01 211*d S pore Prog Fund 1.55 1.63 S pore Sec. Fund 2 36 2.48 S pore Invest Fund 2.19 2.30 S pore Equity Fund 1.46 1.53 ASIA UNIT TRUST prices
    179 words
  • 2736 10 Gr"» Gr's Net 1980/1981 Last Div Div Y'ld P/E Vol Day High Low Company Sale or- C*vr t'OOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 361* 238* Acma 352 14.5 2.8 4.1 14.3 300 220 Alcom 300 12.0 2.5 4.0 17.0 184 116 Allied Choc 170 4.0N 1.9
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  • 1995 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 other«rise specified. INDUSTRIALS Alcmb (3.005) ACkae (1 80S) AMD (2.278 2.315) (2) 2.21 (19)
    1,995 words
  • 30 10 THE Singapore stock exchange said trading in the shares of Far Eaat-Levtag-stmm ShlptalMlmg has been temporarily suspended at the company's request. Business was last done at $6.40. Reuter
    30 words
  • 687 10 FRIDAY ike thirteenth, proverhally unlucky, was a bleak day al Ike Singapore stock exchange as tke longpredicted correction left tke market stunned with its suddenness. After a nervMs and feattireless opening, tke bears pounded tke doors d tke exchange, bringing tbe noon Straits Times
    687 words
  • 601 10 THE Kuala Lumpur stock market proved particularly vulnerable to bearish pressure yesterday and prices were driven much lower. There was little to perk up interest apart from a few counters which found sporadic support. But by and large, losses were noted on all fronts, as
    601 words

  • COMPANY NEWS
    • 654 11  -  By LOW LEE CHOO CARLSBERG Brewery Malaysia has two pieces of good news for its shareholders. First, the group achieved a very impressive 54 jump in pre-tax profit to M 512.93 million last year, the best ever recorded by the company so far, and
      654 words
    • 215 11 THE Jack Chia-MPH group announced that it now holds a total of 1.54 million shares in Hwa Hong. This represents 11 per cent of Hwa Hong's paid-up capital of $14 million. In the meantime, Hwa Hong has also written in to the
      215 words
    • 661 11  -  By WONG SOUK YEE GUTHRIE Bhd reported an after-tax profit of $6.78 million for the year ended Dec 31, 1980. Though this is a 20 per cent drop from the 1979 figure of $8-52 million, operating profit, however, improved by 10 per
      661 words
    • 429 11 IN ONE bold stroke, Fima, the multi-faceted food organisation, is to gain effective control of Metal Box Bhd (to be renamed Fima Metal Box Bhd), Malaysia's largest manufacturer of cans and other containers. This comes by virtue of tts status as the largest
      429 words
    • 553 11 GENERAL Lumber (Holdings) strode firmly back into the black for the year ended Sep 30, 1980 on the strength of improved margins and buoyant first-half sales. Group pre-tax trading profit was lifted to M 51.22 million against a loss of $70,000 previously. The latest results
      553 words
    • LATEST RESULTS
      • 63 11 has announced an audited group net profit of $92.32 million ($52.45 million) for the year ended Dec 31. The parent bank's net profit was $57.85 million ($38.07 million). A final dividend of 9 per cent gross (7.5 per cent on pre-one-for-five rights capital) will be payable on
        63 words
      • 48 11 (formerly Malaysia Rice) reported a pre-tax profit of M 55.147 million for the year ended Dec 31, 1960 against 17.262 million for the 18month period ended Dec 31, 1979. A dividend of V/i per cm (18 fat oat lor the It- month period) has been recommended.
        48 words
      • 54 11 has announced an audited 1980 after-tax profit of M 51.52 million ($1.41 million) on net sales of $19.27 million ($18.34 million). A final dividend of 40 per cent gross (32 per cent gross and 5 per cent tax exempt) will be payable on May 15 to shareholders
        54 words
      • 45 11 group pre-tax profit decreased slightly to $1.38 million (11.66 million previously) for the six months to Dec 31, 1980. Turnover for the period amounted to $18.58 million compared with $20.13 million previously Ike company attributed the slowdown in profits to increasing cost of production.
        45 words
      • 91 11 operating profit before tax, life insurance fund adjustment and gain from the sale of investments, showed a strong improvement to $452,031 ($25,036) for the full year to Dec 31,1980. Net profit amounted to $1.57 million compared with a mere $29,406 previously. The directors have recommended a first
        91 words
  • Page 11 Advertisements
    • 184 11 I •V i JL* t k.-4ft t *we > :> k- i^v «II f« -<.'»' I < i II i %I I i I i k 'n*' 4 1* 9 r 4* <* r <— -2O o OI" 1 ■u a y r St f.* w f y >. i\
      184 words

  • 329 12 Reuter JAPANESE exports to the United States and the European Economic Community rose sharply last month and helped to turn Japan's trade balance into surplus after several large deficits. The Japanese Finance Ministry said the February surplus was U*****.07 million on a customs-cleared
    Reuter  -  329 words
  • 202 12 AFP THE agreement covering Hongkong's textile exports to the United States this year has been revised following final consultations in Geneva last week. "The outcome represents a balanced package and as such contains pluses and minuses for both sides," said Acting Director of Trade, Industry
    AFP  -  202 words
  • 129 12 THE Australian government will continue to push its case to the General Agreement on Tariffs and Trade relating to the export of sugar. Australian Deputy Prime Minister Doug Anthony has assured Country Party members that Australia does not accept as final the veto
    129 words
  • 332 12 AFP CHINA'S paramount leader Deng Xiaoping yesterday requested increased Japanese economic aid to help his country overcome its present difficulties. Meeting the chairman of the Japanese Association for the Promotion of International Trade, Aiichiro Fijuyama, Mr Deng said Tokyo should grant a "small
    AFP  -  332 words
  • 349 12 THE Reagan administration is planning significant increases in military aid to East Asia in the coming fiscal year, said the US Embassy in Bangkok. Figures made available by the embassy showed almost across-the-board increases in US spending on security assistance, including funds
    349 words
  • 566 12  -  By LILLIAN CHEW CIVIL servants are not very keen to play the hatchet-man in their departments. Their response to PROMISE, the Productivity of Manpower Incentive Scheme introduced last June, has been slow. Only 26 suggestions have been made so far. An earlier project, the
    566 words
  • 381 12 JAPAN Medical Supply, a leading Japanese manufacturer of disposable medical supplies, has been granted 10 years' pioneer status for its new manufacturing plant at Ang Mo Kio. The company, which is initially investing $18 million in the Singapore factory, will produce blood and solution
    381 words
  • 392 12 UPI Reuter NEGOTIATORS, who thought they had ended the 12-day hijacking of a Pakistani airliner and won the release of the 102 people on board the plane in Damascus airport, yesterday faced frustrating new demands from the three armed hijackers. Agreement was reached at
    UPI; Reuter  -  392 words
  • 138 12 AFP HIJACKING will be one of the major subjects to be discussed at the annual conference of the International Federation of Air Line Pilots Associations (IF ALP A) which opens in Montreal next Thursday. This was learned yesterday from the federation's Hong kong-based president, Captain
    AFP  -  138 words
  • 120 12 Reuter INDONESIA Is still baying gold even though It has taken a paper loos on some transactions over the past year. Jakarta sources said that In the first two months of this year Indonesia bought over MI,IN ounces of gold. Its end-lttl holdings were UM million
    Reuter  -  120 words
  • 912 12 LONDON, Fri. Equities and government bonds drifted lower today and the level of activity, especially in the bond sector, was much reduced, dealers said. At 3pm, the Financial Times index was down 4.2 points at 476.8. The weaker trend in equities was led by oils, where profittalcing trimmed
    912 words
  • 107 12 AP NEW YORK. Fri Stock prices surged in heavy trading this morning. The Dow Jones average of 30 industrials climbed 7.93 points to 997.75 in the first half hour. Gainers took a 4 to 1 lead over losers among New York Stock Exchange-listed issues. The rally started
    AP  -  107 words
  • Page 12 Advertisements
    • 42 12 Protech International A company serving the oil and gas industry in Management Engineering Services are pleased to announce the appointment of: RICHARD S. CROCKFORD MANAGING DIRECTOR PROTECH INTERNATIONAL PTE. LTD. sth Floor, Loo Kai House Singapore 0718 Tel: *****11 Tlx: R*****2 PROTEC
      42 words
    • 133 12 \_?`;\>$(<+)$^]''":!"_@;'\)`.<. The Straits Times Directory of Singapore triple-purpose index. The one tab to help you keep tabs on allyour resources! The triple-purpose index of the Straits Times Directory or Buku Merah (as we are also known) is your complete guide to all the resources available to you in your business.
      133 words
  • Page 12 Miscellaneous
    • 60 12 wrjEswnEM Outlook for Singapore from 6 a.m. to 1 p.m. today: Generally fair. Report (or 24 hours prior to 7.39 pm on March 13 at the airport. Maximum temperature 30.8 Associated humidity 70 Minimum temperature 23.5 Associated humidity 95 Hours of sunshine 8.70 Rainfall in millimetres 3.0 Total rainfall for
      60 words

  • LEISURE TIMES
    • 1347 13  -  DESTINATION By TSANG SAU YIN THE ROAD to Bath is not a rocky one. Travelling West on the wide, wide, motorway, the 170 km (to this most quaintly historical town in Britain passes without strain. If you would like to see it from the other direction,
      1,347 words
    • 900 13  -  NG LOKE KOON has admitted shamelessly that he thought he had almost forgotten the exact words of the Lord's Prayer. But they came back to him, easily, while watching "Jesus", now showing at the Cathay. The film brings back memories of those bygone Bible
      900 words
    • 406 14 BE ONE of the 5,000 persons who will run in the Singapore Finance Road Race on March 29 at Bedok. This event is part of the celebrations to commemorate the opening of the Bedok Branch of Singapore Finance which will be located in
      406 words
    • 229 14 IF YOU missed the first two, don't forget to join the 3rd Families Friends Jog 1981 tomorrow at the East Coast. Organised by the Jogging Association of Singapore, this jog covers nine kilometres. Joggers should assemble at the East Coast Lagoon Car Park before starting
      229 words
    • Article, Illustration
      178 14 TRIUMPH International will unveil its latest collections in a fashion extravaganza to be staged here next week. The creations totalling some 354 different styles in body fashion, lingeries, swim wear and leisure wear will be presented by It models from Europe, America, Hongkong and the Philippines. Called "The
      178 words
    • 364 14 TODAY GOLF: SICC: IF you go to the Bukit course this morning, you will see the third round of the Rolex Masters 1981. This $34,000 tournament is the highlight of the seven-leg Local Circuit. Being the richest of them, it scores a first with the largest number
      364 words
    • 202 14 IMAGINE miles of golden sand, the perpetual-blue green hues of water plants and sea spray, the lustrous tones of coral, picture-book houses and clear blue skies all the year through. This is Biarritz a seaside resort on the Atlantic seaboard, South-west of France and close to the
      202 words
    • 672 14  -  MASTERS 1981 The list is exhaustive; there's Chang Chung Fa from Taiwan, Singapore's Lim Kian Tiong and 'Mighty Mouse' Ben Arda from the Philippines. But of course only one will win the title and the money $34,000. By CHARMAINE CHAN LABELLED the richest of the
      672 words
    • 1251 14  -  QQQEP§2OB2 IT FAILED miserably daring the January meeting though in its second race it lost the fourth position to Tara Walla. Yet in Penang last month PRIDE OF NELL was able to hold up its head by emerging second to Grandeur 11. It came home well with
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  • Page 13 Advertisements
    • 97 13 BUSINESS TIMES GIVES YOU THE EDGE IT HAS been labelled the richest of the Local Circuit golf tournaments. You can probably guess what match to which we are referring The Rolex Masters 1981 which is on till tomorrow. Who will take home the title and $34,000? CHARMAINE CHAN reports. RUN
      97 words
    • 8 13 When we say business we mean just that
      8 words
  • Page 13 Miscellaneous
    • 382 13 WHAT WHERE 1 FILM SHOWS THE HILTON Movie House's film treat this weekend is the academy award-winning drama Patton, starring George C Scott and Karl Maiden. Tomorrow at 8.15pm at the roof-top poolside. ANOTHER film on war is the French Embassy's and Alliance Francise's joint presentation of J'Assuse (1938, B
      382 words