The Business Times, 16 May 1981

Total Pages: 14
1 14 The Business Times
  • 11 1 BUSINESS TIMES M.C.(P) No. 107/1/81 SATURDAY, MAY 1«, 1981 60 CENTS
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  • BRIEFLY...
    • 51 1 AFP COPENHAGEN, Fri. Denmark has become the first Western industrialised country to ratify the agreement setting up the commodities common fund under the "North-South dialogue", the foreign ministry said here. The agreement part of the plan for a new international economic order was ratified on Wednesday, it said.
      AFP  -  51 words
    • 58 1 AFP MANILA, Fri. The Philippines is currently E recessing 20,000 barrels of crude oil daily for idonesia, it was confirmed here yesterday. The confirmation was made by officials of the Philippine National Oil Company (PNOC) following a report published in the Astrad trade news datelined Jakarta, quoting Minister
      AFP  -  58 words
    • 96 1 AP LONDON, Fri. British lawmakers, still among the lowest paid in Europe, are due to get an 18 per cent pay raise, but budget-cutting Prime Minister Margaret Thatcher warned doctors, senior army officers and civil servants toay they will have to do with rises of 7
      AP  -  96 words
    • 80 1 AP PARIS, Fri. A wave of selling orders hit the Paris stock market again on Friday, delaying quotations for 15 minutes and dispelling hopes that a return to more normal trading conditions had been heralded by the previous day's recovery. Traders said the market was "alive" with
      AP  -  80 words
    • 63 1 AFP PARIS, Fri. Francois Mitterrand was today officially proclaimed President of France by the constitutional council, following his election victory on Sunday over incumbent President Valery Giscard d'Estaing. By polling 15,708,262 of the 30,350,568 valid votes cast in the election, Mr Mitterrand won by a margin of 1,065,956
      AFP  -  63 words
    • 65 1 Reuter ROME, Fri. Pope John Paul is suffering from spasms of piercing pain from his bullet wounds but is gaining strength after his long operation, a medical bulletin said today. It said the Pope, shot in the stomach, right arm and left hand by a Turkish extremist
      Reuter  -  65 words
    • 72 1 Reuter KUALA LUMPUR, Fri. Malaysia's first premier, Tunku Abdul Rahman today described Prime Minister Hussein Onn's decision to step down as "no surpirse". The Tunku said that Datuk Hussein Onn's decision was made much earlier owing to his health. "I know he would have carried on if
      Reuter  -  72 words
  • Chief Price Changes
    • 138 1 Rises Peri Mai* 8«f Properties 1210 170 2290 110 G E Life 2000 100 C Sugars Syn Reaina 1500 820 90 90 Dutch Baby 480 90 H Leong Credit 1470 80 Gentinfa 8 EA L 1120 80 410 80 G Ceramica 730 75 Falls S P Textile 380 -28
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    • Article, Illustration
      154 1 Rises Matsushita 840 220 G Ceramics 785 115 Oil ting HLInd 1200 2100 +90 +90 KLInd 780 +85 Pic Dev 1170 +60 Syn Resin 850 +55 Dutch Baby 515 53 P Chem 1050 +50 SEA Lumb 430 +30 Sentosa 560 +30 Falls Tronoh 1800 -40 S Dredge 950
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  • 643 1  -  By LILLIAN CHEW EVERY secondary school in Singapore will soon have an Apple. The Ministry of Education has decided that only Apple computers will be installed in all secondary schools under the masterplan to develop Singapore into a regional computer training centre. It has set
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  • 428 1  -  By KOH TSE YING AHEAD of Neptune Orient Lines' debut on Tuesday, the Singapore stock market yesterday rode to new heights on the back of strong performance by heavyweight issues. The Straits Times Industrial Index, which earlier this week was drifting around
    428 words
  • 253 1 SINGAPORE laid to rest the My af Mi late Ifc—l yesterday. As a mall, salens gathering sf family, gsvenuneat leaders aad fareign dlgaltariee steed by the graveside In the State Cemetery at Kraaf, the»sasds sf Singaporeans crowded reaad televWsa seta la their hemes aad their sOees
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  • Page 1 Advertisements
    • 39 1 AGOODBOOK RECENTLY? mimes Bookshops Tar Ofrturt Crwitr mm'% l.«ir •ViC AUSTS CiNTM S<*GA*U«A M >06 Ot*»a Ro#d Octm* Moid T« *****77 fee*** No«t T„ UTtOM S.' W i i 0»73 *CUMO«O C(«T«C »»O|.IAHOuJ| T* 73ft»7l 7»nt| T„ »»J' 21QOCM
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    • 226 1 Swing With A Perfect IMA The form and function of many things are often v rated on a scale of 1 to 10. Hi This includes Olympic competitive scoring, pretty girls and golf clubs. That's why Lynx named its newest, hottest model golf club'lo'. These new-design woods and irons were
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    • 73 1 $!.&'!]}<@(>,~}^[?\)*);=':[<$;, LEISURE TIMES VIETNAMESE-backed Kampuchea accuses US of new p1ay..... t US oU companies pot their feet down WANT to give prestige to your products? UMW (Malaysia) cxpects higher pr0fit............................. 11 UNITED Plantations announces expansion plans 11 MALAYSIAN Prime Minister to step d0wn................................. 12 TV AND RADIO I, CROSSWORDS C,
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    • 59 1 The Straits c m P a es Times KeypSS DIRECTORY Agencies Of Singapore j (Buku Merah) < 14-> GROUND THE WORLD... /MUNSMGNNE4R StaflU U.S.A. THE SYMBOL OF QUALITY When you wear Munsingwear, You know you look good. Anyway you wear it. Everywhere you wear it. Today's best-seller in active sportswear
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  • REGIONAL
    • 382 2 AFP THE VIETNAMESE-backed Kampuchean regime has blasted the United States (or what it called a new ploy to discredit its two-year-old leadership. A commentary carried by the Kampuchean news agency SPK, said the distribution of rice seed to Kampuchean farmers, which began on
      AFP  -  382 words
    • 154 2 AFP THE US Senate Foreign Relations Committee has authorised the government to turn over to Pakistan an initial US$lOO million in economic aid. The committee stretched a point, since US law forbids the government to help countries which refuse to promise not to develop nuclear weapons.
      AFP  -  154 words
    • 249 2 AFP CLOTHING and accessories are by far the biggest export earner for Hongkong in the first quarter of this year with a combined value equivalent to US$l.l3 billion. By itself, clothing sales to the United States went up by $117 million or 41 per
      AFP  -  249 words
    • 245 2 AFP AUSTRALIAN Prime Minister Malcolm Fraser has quelled criticism among his Liberal Party parliamentary supporters but after next week's recess he will face a new line of criticism in which former minister for foreign affairs, Mr Andrew Peacock, is a leading member. One liberal backbencher, Mr Max
      AFP  -  245 words
    • 149 2 AFP AN INTERNATIONAL conference on Kampuchea will probably be held at the United Nations headquarters in New York in July. The UN General Assembly passed a resolution last October calling on Secretary-General Kurt Waldheim to convene such a conference. Asean countries have
      AFP  -  149 words
    • 89 2 AP LAOTION Vice-Premier and Foreign Minister Phoune Sipaseuth said yesterday that differences between the Indochina countries and Asean on the Kampuchean conflict should not stop Asean from going ahead with its plan for a zone of neutrality in South-east Asia. He said the only way
      AP  -  89 words
    • 462 2 UPI THE 49th Canton Trade Fair closed yesterday with its reputation intact as a bonanza for the first time trader in China and an important market for Chinese goods. The deputy secretary of the organising committee, Mr Wu Shengyuan, said business was up compared
      UPI  -  462 words
    • THE REGION IN BRIEF
      • 395 2 Agencies JAPAN'S two largest car makers have reported record exports last month despite the government's agreement to voluntarily hold down car exports to the United States. Toyota exported an alltime high of 167,463 vehicles in April, up 8.3 per cent from a year earlier. Nissan, which manufactures
        Agencies  -  395 words
    • 467 2 UPI THE Japanese government has decided to prosecute the operators of the scandal-rid-den Tsuruga atomic energy plant for covering up Japan's largest nuclear contamination accident. Officials at the Ministry of International Trade and Industry (Miti) said yesterday the decision will be announced next
      UPI  -  467 words
    • 132 2 AFP THE PHILIPPINE government will soon establish a US$4OO million capital fund for entities with export contracts and in need of financing. Industry Minister Roberto Ongpin said yesterday the loans will be channelled through the governmentowned Export Credit Corporation (ECC) which will be made operational as soon
      AFP  -  132 words
    • 607 2 AP PRESIDENT Marcos has asked Filipinos for a new mandate in next month's presidential election, saying he is one president who stood up to a superpower like the US. "You think it was easy to turn down a superpower like America or
      AP  -  607 words
    • 779 2 ARRIVALS Service Local Operator Number Time From PAA PA005 0010 NYC/SPO HKG Cargolux CV796 0530 LUX/DXB MCT MAS MH601 0630 KUL MAS MH680 0645 KCH FT FT71 0700 JFK/ORD ANC NRT/TPE SIA SQ101 0815 KUL PEN MAS MH603 0830 MAS MH671 1000 PEN KUL SIA SQ201 1000
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  • Page 2 Advertisements
    • 309 2 K*/ 1 |VSfe I THE BUSINESS TIMES ANNUAL BANKING FINANCE SUPPLEMENT 28 MAY 1981 The supplement will be 24 pages and will reach nearly 50,000 readers, covering all the important industries in Singapore. SYNOPSIS An exclusive feature on NM Rothschild's approach to funds management by Kate Mortimer. Hock Lock Siew
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  • OVERSEAS
    • 267 3 NYT WHITE House officials said on Thursday that additional cuts in this year's budget would probably be minimal, despite the Administration's desire to counter spending excesses resulting from higher-than-expected interest coots. president Reagan met with his Cabinet and expressed what one aide called a real sense
      NYT  -  267 words
    • 313 3 AP REDUCTIONS in American imports of Japanese cars will not be extended beyond the present three-year arrangement. Mr William Brock, the US trade representative, said in Washington that an extension had been ruled out. Mr Brock was in Japan when the arrangements were made
      AP  -  313 words
    • 123 3 AP LIBYAN leader Moammar has denied that his country has expansionist aims in Africa or is a potential staging area (or the Soviets, despite recent huge Soviet arms purchases. He also denied any immediate plans to cut off oil shipments to the United States in retaliation
      AP  -  123 words
    • 290 3 Reuter FORD Motor Company chairman Philip Caldwell has said that the company is on the road back to profitability after losing a record US$l.5 billion last year. He told the 26th annual meeting of shareholders in Detroit on Thursday that he expects Ford to come
      Reuter  -  290 words
    • 246 3 ANTI-inflationary measures are likely to lead to a slowdown in the Swiss economy, National Bank president Dr Fritz Leutwilr said in Zurich on Thursday. While real gross national product (GNP) is expected to expand by 2 per cent this year, it is doubtful if
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    • 86 3 AFP US ECONOMIC Indicators are levelling off with inflation running at a rate of over 10 per cent while European economies still remain in the doldrums. The Bank of Japan, in announcing its analysis of recent economic performances in the world, said the US economy had
      AFP  -  86 words
    • Article, Illustration
      426 3 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Anjin No. 11 (Tanker) (after Bum Yong subject gas free P/O) 15/16 Fenq Qing (after Kota Bintang) 8/9 Golden Eagle (1500 after Kwangchow) 23 Heidenheim (after Lupin) 33/34 Kim Soon Li (0700 after Builder) 22 Kota Singa (1800 after Centaur) 1/2 Lakshmi
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    • 698 3 NYT THE United States petroleum industry is fast reaching a consensus that crude oil is too expensive, and a dozen oil companies have reduced the price they will pay for a barrel of domestically produced oil by an average of US$2 a barrel. Conoco Inc
      NYT  -  698 words
    • WORLD IN BRIEF
      • 439 3 Agencies POPE John Paul II is making a "normal" recovery but is suffering "piercing" pains despite the use of sedatives, doctors reported. "The Pope woke up repeatedly during the night suffering from acute pains," said a spokesman for Rome's Gemelli Policlinico Hospital. "Although sedatives were administered, John Paul
        Agencies  -  439 words
  • Page 3 Advertisements
    • 358 3 WORLD TELECOMMUNICATIONS DAY BONJOUR" Telecommunications France calling... Capability The French telecommunications industry manufactures every possible type of* telecommunication equipment. Several French companies are able to build complete telecommunication networks on a turnkey basis. French companies rank among the world's leaders for electronic switching, transmission 4 equipment, submarine cables, satellites 1
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  • RAW MATERIALS
    • 276 4 AFTER declining six cents at the outset, the rubber market spent this week moving sideways along the 248-cent mark for June One RSS to finish five cents down on balance, says H»liday, Catler, Bath aid Cimpuy in its latest review of the Singapore and
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    • 217 4 SOYBEAN futures in Chicago on Thursday finished 11 cents a bushel higher in spot may, to down V/t cents in deferred May. Most positions settled with around two to three cent gains. Aggressive exporter bull spreading, particularly buying spot May/selling July, accented for nearby May strength in relation to
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    • 166 4 WHEAT futures in Chicago on Thursday closed two cents a bushel higher to off V* cent in deferred May. Prices settled around the middle to high side of a seven-cent range. Sympathetic local shortcovering following the further advances in soybeans and corn rallied and held most positions on the
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    • 308 4 RUBBER prices in Singapore yesterday ended noon slightly lower with June One RSS buyers quoted at 247.00 cents per kilo, down two cents from Thursday night's close, dealers said. Opening prices were marked down slightly on lower London advices but thereafter prices gained some ground on some buying interest,
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    • 298 4 RAS prices in cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 249.00 250.00N Int. 1 R.S.S. June 247.00 247.50 Int. 1 R.S.S. July 249.50 250.00 Int. 2 R.S.S. 224 00 225.00N UK/Cont 223.00 224.00N Int. 3 R.S.S. 218.50 219 50N UK Coot
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    • 122 4 NOONSSRu id SMR price* ywurdar RAS SSR20 SSR SO (1'tOf (l«oe i pallet) i pallet) (C«TwTt' M Ik) Buyer* Sailer* 220 50 222.SON ***** 219.S0N W> (Forward Mth) Bu v ere Seller* 222.50 224 50N 219.50 221.50N MRKLB Jul M My SMR CV SMRL SMR SMR GP
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    • 93 4 THE STRAITS tin price In Penang yesterday (ell nine cents to MS2S.SB a kilo, stili in the P* middle range of $27.28 to $3MI on reduced ITC buffer stsck buying, dealers said. The fall narrowed Penang's preminm over the London Metal Exchange, and was restricted dne to ITC
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    • 34 4 Rubber: May 15 Singapore: June: 247.00 cents (down 2.00 cent) Malaysia: June: 266.75 cents (down 2.25 cent) Tin: M 529.58 per kilo (down 9 cents) Official offering: 215 tonnes (down 50 tonnes)
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    • 155 4 AUSTRALIA'S wide-spread drought is directing interest to new types of wheat which are more drought resistant. The first hard white hybrid spring wheat will increase grain production by 20 per cent, according to a New South Wales seed company, Dekalb Shand
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    • 174 4 CHINEBE Prodace Exchange, Singapore, noon closing price* per lMkg yesterday. Coeoast oil: Bulk fob $115.00 sellers, old drum (In second hand drum) fob $128 00 sellers, new drum fob $134.00 sellers. Copra: Mixed (loose) $66.00 buyers. Pepper: Muntok white pepper fob Asta NLW $420.00 sellers, Sarawak white pepper
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    • 193 4 YARN and cotton prices were quoted as follows In Hongkong yesterday: (In HK dollars, spot ex-go-down) Cottsa yarn: China Blue Phoenix 20s 2.250, 32s 2,800, 40s 3,050 (per bale of 400 lbs). Piece goods: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 331 4 SINGAPORE: Yesterdays closing prices in S$ 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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    • 795 4 COFFEE: Robusta coffee futures yesterday closed £12 to £2 higher with July last traded at £1,064. Turnover was 1,215 lots including seven options. Dealers said the steadier market was partly due to price fixing by roasters, mostly Japanese, and tradehouses and partly stemmed from a technical reaction to
      795 words
    • 114 4 Reuter INDIA'S imports of vegetable oil this calendar year are forecast to decline to 1.2 million tonnes from nearly 1.4 million estimated for 1980, an economist with the US Agriculture Department said. In an article in the USDA's "Foreign Agriculture" magazine. Rip Landes, an economist with
      Reuter  -  114 words
    • 147 4 THE Kuala Lumpur market yesterday continued higher on short covering with sellers withdrawn in quiet trading, dealers said. In May, south and central traded at Ms9?s a tonne. South gained $5 to $965 in June, central rose 57.50 to $930 in July and south traded at $912.50 in
      147 words
  • ASIAN STOCKS
    • 467 4 TOKYO STOCKS yesterday firmed in the wake of Thursday's sharp recovery, led by high priced electricals and precisions which rose overnight on Wall Street, dealers said. The market average rose 19.39 to 7,486.84 in fairly active trading with volume 570 million shares. The Tokyo Stock
      467 words
    • 284 4 THE market yesterday opened in line with the London closing prices, about 30 points higher than Thursday's closing price. Buying was concentrated on the blue chips. Heavy profit-taking trimmed some of the early gains, but the market stabilised and traded mixed and active the rest of the morning. Afternoon
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    • 318 4 ACTIVITY in the Sydney banking sector yesterday reached fever pitch when CBC Bank confirmed earlier rumours it had opened takeover negotiations with the ANZ Bank. The announcement came just before the close and followed an announcement on Thursday that the Bank of NSW had topped ANZ's bid for CBA
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    • 239 4 STOCK prices yesterday closed mixed with losses more than gains in slow trading, dealers said.' Bangkok Bank fell two baht 256, First Trust dropped 0.50 to 60.50 and Bank of Asia one to 121, while Rama Tower rose two to 72.50 and Charoong Thai gained four to 187. MAT
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    • 125 4 THE stock market yesterday recovered to firm from its previous dull trading though turnover dropped to 488,000 from 942,000 pesos. Philex B, Basic Petroleum, Phil Overseas, Ist Phil Holdings and PLOT finished strong and there was no loser while the rest were untraded or unchanged. MAT U *52? A
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    • 53 4 FINANCIAL TIMES INDUSTRIALS Thursday 966.1 Wednesday 551.3 Week Ago 564.6 DOW JONES AVERAGE INDUSTRIALS Thursday 873.07 Wednesday 067.76 Week Ago 078JO H.K.HANG 8ENG Friday *****1 Thursday 1532.05 Week Ago 1431.11 AUSTRALIAN INDUSTRIALS Friday 746.6 Thursday 749 0 Week Ago 751 j ALL ORDINARIES £r»«Uy 687 4 Thursday 6868
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  • Page 4 Advertisements
    • 505 4 ~o«Vi t t sc MIRBVCH GODEL, ESCHER, BACH: AN ETERNAL GOLDEN BRAID Douglas R. Hofstadter This is the tort of book that emerges only once e decade, an undefinebie but wholly remarkable achievement which has won its author the Pulitzer Prize. Taking the apparently unconnected musical structures of Bach, the
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  • TRADE AND INDUSTRY
    • 141 5 THE hotel to be built by Marina Centre Holdings will be the largest and tallest of three hotels in the Marina Centre complex. The $300 million hotel scheduled to open its doors by late 1984 will be managed by Tokyo Hotels International, a member of Tokyo Cor-
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    • 281 5 BEN and Company has appointed Mr K St John Stevens as its chairman. Mr St John Stevens, who is currently managing director of Straits Steamship, the holding company of Ben and Company, succeeds Mr J G Gilmoor who retired from the board at the end of last
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    • Article, Illustration
      280 5 FANS small enough to stand on your coffee table and fans so big only a speciallybuilt open hatch container can transport them that is the range of fans available from Boustead Engineering. The smallest fan has a 25cm diameter and the biggest has a diameter that stretches across
      280 words
    • 299 5 EDUCATORS should strive to correct the present science syllabus which pays little regard to the teaching of non-examinable skills such as the capacity to observe and deduce. These skills are indispensable not only to ordinary problem solving, but also to the economic advancement of
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    • 74 5 SCHOOL-LEAVERS and job-seekers can literally go job-shopping at the Careers '81 exhibition at the World Trade Centre. Industries and government departments offering a wide variety of jobs and careers are represented at the ten-day exhibition organised by the World Trade Centre and supported by the Ministry of
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    • 566 5 LOCAL manufacturers will soon be allowed to use the RISIS mark on their souvenir products for a fee. RISIS is a trade mark for a wide range of gold-plated live flower ornaments and souvenir Items developed by the Singapore Institute of Standards and Industrial Research.
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    • 400 5 ENERGY IS PRECIOUS ...SAVE IT FAST ACCELERATION WASTES FUEL THE efficient use of energy in existing buildings begins with proper repairs and regular maintenance. In the case of a new building, proper design is the key to energy savings, said Mr Yap Meng Chew, director
      400 words
    • 294 5 THE three-day Canadian Asean Technology Exchange meeting ended here on Wednesday with the promise that a number of Asean-Canadian Joint ventures will be formed in the near future. The meeting was sponsored by the Canadian International Development Agency (Cida) under its Industrial Cooperation Programme to allow
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    • 729 5 SEMINARS AND COURSES May 19-21: Kepner-Tregoe Programme on Managing the Performance System, Hyatt Singapore Hotel, Singapore Institute of Management May 19-23: Reliability testing course, Hyatt Regency Hotel (Jasmine Room), Singapore Institute of Standards and Industrial Research May 22 23: The Challenge to Succeed Video seminar featuring James Rohn,
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  • Page 5 Advertisements
    • 43 5 A FINE COLLECTION OF CHINESE CERAMICS FROM LONDON RiiiiMH EXHIBITION SALES AT THE HOTEL SHANGRI-LA HIBISCUS ROOM SATURDAY MAY 16th 10am 9pm SUNDAY MAY 17th 10am 9pm MONDAY MAY 18th 10am 9pm Presented by COHEN PEARCE (Oriental Porcelain) London SHANGHAI ARTS CRAFTS (SINGAPORE)
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  • 373 6 TOURISM is today an important part of both our individual and collective lives. As wallets get thicker and credit cards more popular, Singaporeans crowd into the coaches, the cruise ships, the aircraft that cart them away to lands far and near, exotic and familiar for
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  • 323 6 SOME MAY find it strange that only Apple Computer has been selected to supply the $1 million worth of microcomputers the Education Ministry is buying. There could even be some inclined to question the fairness of the decision. The contract is, after all, a prestigious
    323 words
  • 609 6 AFP DEPUTY Prime Minister Dr Mahathir Mohamad, 55, is widely expected to take over the leadership of the United Malays National Organisation (Umno) and the government from Datuk Hussein Onn with his blessings. Unlike Datuk Hussein, Dr Mahathir is a dynamic leader out to get quick results. He
    AFP  -  609 words
  • 610 6 AFP PRIME Minister Datuk Hussein Onn, who announced yesterday his intention to step down from office for health reasons, has led Malaysia through tumultous times for over five years. Datuk Hussein, 59, who succeeded Tun Abdul Razak in January 1976, told the Johore Bahru division of the
    AFP  -  610 words
  • Page 6 Miscellaneous
    • 643 6 CRYPTIC PUZZLE ACROSS 4 Where many swimmers are taught? (6) 7 Great place for a youth to conceal a weapon! (3) 8 Being considered ideal? (2, 4) 10 Damon as a wanderer (5) 13 Fall to a doctor to have an operation (4) 14 Clothes the driver changes (4) 15
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    • 41 6 DTI StOW: FffiziKl^ckerS l UWE. IT f OfeRVOHe 1 JTf: CHINQ,!" OF the. £RSh ReGisi^g o»rrs (5 19 i2r) J 'onoRHWO S»R ("CHiNSf") (GOOD POOQNING\ (Good rno^NiN&^V'cwiNGf M "CUING' 7 —v| I Ssk S*^i ,^NQn r oui<e\ (J 06TR.LSOH "CMIHG!-)(thrt£sOO J
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    • 630 6 THIS b the mum far cap finals. Naw that the FA cap to a thing af the pact, the Germans have maved ta the ceatre stage. Watch aa exettiag taaale far the Germaa eap flaaia betweea wtat lag teams Datracht Fraakfart aad PC Kalaerslaatern at 3.4tpm aver ehaaael 5. Still
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    • 165 6 Patrol 8.15 On The Sunny Side I.M Today's Diary followed by Programme Summary and Say It With Music II.M Thirty Minute Theatre IIJI Piano Music Exam Series Grade 6, List A II.M News in Brief II.M Small Talk 12.M Musical Tribute I.M PM The SBC Combo l.St News foillowed by
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  • 380 7  -  .HOTEL INDUSTRY By RAY ANG ON MAY 9, when two men put their signatures to paper simultaneously, an agreement was sealed between a hotel owner and his managers. The agreement was for property managers ANA (All-Nippon Airways) Enterprises to manage the yet-to-be-built Furama Singapore, owned by Veneer Hotels.
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  • 607 7 THE 15th floor office of Merlin Plaza commands a panoramic view of the south-eastern coast of Singapore. There, I met Mr C K Liew, chairman of Veneer Hotels, the owner of the Furama. It was a relaxed interview thanks largely to his hospitable nature and his willingness
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  • 500 7 HOTEL INDUSTRY. MR KOJI Yamashita is an old hand at the game of developing and running hotels. He was plucked from his administrative post in the airline division of ANA and has spent the last 11 years dynamically expanding the hotel division of his parent company.
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  • Page 7 Advertisements
    • 139 7 i."* 1 t "wbmm > "v/v w aHMi Wfe've soared to dizzy heights Circulation has doubled in three years: an amazing record! Since Business Times was first published in October 1976, it has meant business: providing businessmen in Singapore with a reliable daily source of essential news. Now, circulation has
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 165 8 MAY 14 ru abn *1.00 -Q.M Ahold 0B00 -0J mo 0J amev MM -OJ Amfrn* 101 JO -0J Amrobnt SUM ■U ttJO 4U0 -0.8 Boll S4J0 -BJ BonumiJ moo Burtunann Caland MJO 33.40 *41 -0.1 CaWt Dslft *n jo 0J Dell lilj 8100 5 Ennli 141.® -OJ rotker 54.00
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      • 252 8 MAY 14 Fra CORBEILLE Alr-LKjuld« B 8 N Oervali 430 M5 •Oil -10 C 8 F (ThomaonCt» Francala* daa PatrolM 291 -14 140 -1 Compafnl* Financier* CotnpafnM Oenermle Credit Foneter D* rnnct m HI -14 ♦a Hachette (UMtk) Machine* Bull Mlchelln (B) J00 47 JO 101 -10 -0J ♦i
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      • 80 8 MAT 14 m FORWARD MARKET Ac*C 306 10 MM \m -8 Astur 410 to era r^7~ IN unch Dt Bttfi SO 4* CbM UN -4 KtoctrotMl Ob-lnno-Bm Qtr aaoo UM ixm unch Hobok an Pftro «M0 -M Rfi Dutch IMS 4 Boc On Self Sofia* join; A MM ion
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      • 192 8 MAT 14 Dm Aaf-Telcfunktn Akao suae All* LeMn Alls V«t» 1000 00 4TOJO •i uneh BASF Bu H T Wbank Ba? Vbank 1*1 JO »4J0B -1 Baj.r MOJO -0 BMW Chcm V«rw CommereDank ConU Oummt DalmWr Bam moo MJO MMi VIDO -a -0.7 -0J -0.1 Pirn if DautaclM Bank
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      • 45 8 A*oc Oen *****0 -SO BMlOfl W -10 i 250C -I •0 -01 WW -54 MM -HO IUlMdcr XafiMtl M FT 300 unch 1*00 unci) Safes moo 300 «H0 +145 ass -TJ 4M8 <010 -10 1007 on -so 1010 HUD -ITS 1440 +M 1140 30
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      • 179 8 MAT 14 C ]|H H AJcaif Alcorn* n« J7H -H im unci) Bulk Mont Bank Nov* Seoua Bell T»l Beth Corp BP Can Ltd Braacan Camp Red Lake Ctn Imp Bk 47 «7* +1* »H -W Canpar Can par In* Pf CarUnc O"Keefe Comlncc 46S uneh uneh 7* MM
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      • 244 8 MAT 14 1 tand INDUSTRIALS AlpH. *ao uncb Abtreom AC And <71 m no uncb uncb »mr aao -90 Btrlova 104ft -40 ca sucm um 25 CTA Cum* rin&nc* Oc Batn Ind Btteon at 3700 030 uncb 4 uncb Kdfmn Iwndf Fad Vou SOB unci) rugit OWnini Qrutmn 1300
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  • Page 8 Advertisements
    • 659 8 "The American Express Card serves you well, wherever good food is served". f Inn Of Happiness Dine Cantonese style. Dine 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
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    • 181 8 Whatever your taste, the Cockpit Hotel makes it great i* Jf Dragon Palac* RHtiunnl Stem*** Seafood We re famous for our Restaurant Cantonese Cuisine The Siamese Seafood Restaurant is as good as Bangkok! y m Victoria Sar The CoHee-House Relax in an atmosphere of For informal meals and elegant days
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  • BANKING AND FINANCE
    • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 12.60 per cent.
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    • 183 9 ASIAN RATES ASIAN currency deposit interbank rates as at close on May 15. US Dollar«<SMt) Offer Bid 7 days 1 month 19 18"n 20 11/16 20 9/18 2 months 19 13/16 1911/16 3 months 19'i 19 J 6 months 19't 19 9 months 18'• 18 12 months 1115/1617 13/16 Sw-Frt.
      183 words
    • 50 9 RANGE of prices ottered by discount bouses on May 15: Overnight: V»% to Call deposits: K to CM| Baying Selling 3- month Treasury bills 6' 6 3 3-month Bank bills 9 1 9 s l 3 months CD 9'» 9 6 months CD 10 9 Source: National Discount Company
      50 words
    • 121 9 THE US dollar yesterday finned against sterling and was steady against other major currencies in late trading, dealers said. Trading was quiet after opening little changed from New York levels, with dealers expecting a large rise in US money supply in yesterday's weekly Federal report. Sterling eased to a
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    • 504 9 TRADING ON the local foreign exchange market yesterday was rather quiet with the exception of the US dollar against the local dollar. Dealers said the long weekend ahead meant many who were holding long positions because of the current strength of the US dollar decided it was time
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    • 197 9 SINGAPORE gold futures yesterday closed narrowly mixed compared with overnight levels after fluctuating marginally in light trading, dealers said. Total sales ior the day was recorded at 102 lots while kerbs volume at 102 lots with interest centred on June and August contracts. June closed firmer at U*****.60/485.80 an
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    • 34 9 Iters New York 10 85B 10.96B 11.OSS 11.1SS Zurich 10.T5B 10.90B io.es U.10S PH Thorn Singapore 1080B 1090B 1100S 11.10S Closing prices in US dollars a troy ounce. Source: Credit Suisse, S'pore
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    • 239 9 THE US dollar for overnight delivery yesterday closed at 221.95 yen, compared with a 222.00 opening here, a 221.40/50 closing in New York and 221.60/75 on the West Coast on Thursday, dealers said. This was up from a 221.80 closing here on Thursday. Trading was active with US$l.23 billion.
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    • 128 9 THE dollar opened below its overnight levels in thin trading amid uncertainty about future dollar interest rate trends, dealers said. The dollar opened at 2.2970/80 marks after a late Hongkong 2.3005/15 and 2.3115/25 at the close here on Thursday. Speculation that measures will be taken to support the Swiss
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    • 51 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from May 19 to May 22: Offered: $140,000,000 Applied for: 1282,000,000. Allotted: 1140,000,000. Accepted bids: $96.36 approximately 64 per cent and higher bids in full. Average rate «f discount on allotment: 6.565 per cent per
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    • 1090 9 NEW YORK STOCK MARKET NEW YORK stock prices on Thursday closed higher after a featureless trading session, as investors wait for some indication of the trend in interest rates. Analysts said the market reacted to an improvement in the credit markets, as well as to a reduction
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    • 78 9 I/ACT, In conjunction with the Asian Banking magazine, will be presetting a seminar on "Banking In the l!8to" at the Shangri-La Hotel storting on Monday. The two-and-a-half day seminar will be presided by Dr Dimltrls N Choratos, an International lecturer and expert on computers and data communications. It
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    • 396 9 ATLAS CMMlldftted Mining and Development C#rp of the Philippines will raise a US$l55 million syndicated loan with Citicorp International and Chase Manhattan Asia as lead managers. Terms include a margin over the London interbank offered rate (Libor) of 7 per cent for an undisclosed initial period, and
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    • 268 9 Reuter MEMBERSHIP of the proposed London International Financial Futures Exchange will be initially offered at £20,000 for each member, of which £10,000 will be payable on application. The exchange's steering committee said in a statement it expects up to 200 members to be allocated in the
      Reuter  -  268 words
    • 62 9 MORGAN Guaranty Trust Company has reached agreement in principle to place the major part of its 33 per cent stake in merchant bankers Morgan Grenfell Holdings Ltd with a small group of UK institutions. A company statement said subscribers to the share placing will include existing shareholders in
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    • 503 9  -  By ALVIN TAY THE POSITION of financial lessors in Singapore is still somewhat unclear though the proposed guidelines for leasing operations have already been issued by the Monetary Authority of Singapore. Mr W R Davidson, tax principal of Turquands Ernst and Whinney, said the financial
      503 words
    • 377 9 THE POPULARITY of Eurodollar convertible bonds among US companies will grow because of continued high interest rates in America and the possibility of a strong stock market in the future. To position themselves for this expected growth, US brokerage houses are setting up trading desks to handle these
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    • 176 9 THE HAMBURG-based European Asian Bank reported increases of 43 per cent in total assets and 41 per cent in total business volume last year. Total assets, which exceeded DM4 billion at the year-end, have again doubled within a space of only two financial years. The
      176 words
    • 43 9 THE FRENCH Central Bank raised its minimum lending rate from 16 to 18 per cent yesterday. The spot lending rate on the market, which was raised from 15.5 per cent to 16 per cent on Wednesday, is expected to increase further.
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  • Page 9 Advertisements
    • 336 9 i'A Jr v^s Oriental Rugs and Carpets A comprehensive guide containing a systematic catalogue of carpets and rugs with over a hundred superb colour plates, providing an invaluable source of reference. Tha Country Lifa Collector's Pocket Book of China Into his new and revised edition are condensed the facts most
      336 words

  • 2057 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 (4.088) (1)4.10
    2,057 words
  • 164 10 ONOAFOU UNIT TWMT (11 MtoM tar Mu U) OCB-WONTAOl (Mm|iW priM tar May M The Commerce The Savtngi Fund 3* 2.23 4 15*d 2.34 U) Union Spore Fund l.Tfxd lJted S pore Prof Fund in in INCOMK BOND UNIT S pore Sec. Fund 113 (Cnrreat yrteee) S pore
    164 words
  • 2773 10 1981 High Low Coapaiy Gr'» el's Net Last Div Dlv YHd P/E Vol Day Sale -for- Crr (*000) High Low SECTION ONE INDUSTRIAL ft COMMERCIAL 424 334 312 420 200 470 090 666 430 320 Acma Alcom 130 Allied Choc 161 BAT 330 BaU 110 Ben 380
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  • 1985 10 BID and offer prices officially j listed and business in and re- j ported to the Kuala Lumpur i Stock Exchange yesterday i with the number of shares i traded shown in brackets in 1 lots of 1,000 units, unless other- < wise specified. MKMItUU 1 1
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  • 712 10 THE RESILIENT halla made their preaeaee felt at the ataek exehaage yesterday aad aeat the Stralta Tlmea ladaatrtal ladex to a aew Ugh. After a llatleaa atari la the mandag, the aaarhet weat sa a aeleetlve baytag spree, hath la Mae ehlpa aad apeelal
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  • 433 10 SENTIMENT remained cautious as share prices contined to stay mixed on the Kuala Lumpur Stock Exchange yesterday This came ahead of the long weekend and followed the official announcement of the resignation of the Malaysian Prime Minister himself yesterday. As expected, the news had no marked
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  • 64 10 HYTEX Ltd of Singapore has signed an agreement with Folex Industries Bhd to purchase the latter's shareholding of 51 per cent in Hypak Sdn Bhd on May 12. The other 49 per cent is owned by Hytex. Folex will sell its stake in Hypak at 10 cents per share
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  • 55 10 KINO'S Hotel LWM: EOGM to be held at Unit 1604, 16th Floor, Hong Leong Building, 16 Raffles Quay, Singapore 0104 on May 21 at 11.30 am. MALAYSIA BalMlag Society Bertad: AGM to be held at the Board Room, 3rd floor at 'Bangunan MBSB' 13/15, Leboh Ampang, Kuala Lumpur
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  • COMPANY NEWS
    • 345 11 OWING mainly to a substantial profit contribution from its tantalum-bearing slag Operations, Datuk Keramat Holdings Bhd managed to turn in a 9 per cent increase in group pre-tax profit to MJ31.87 million for the year ended Jan 31,1961. Profit from Datuk Keramat's tantalum operations multiplied 12
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    • 292 11 UNITED Plantations Bhd (UPB) has announced expansion plans. It is "actively exploring the possibility of further expanding the company's area under oil palms, coconut and cocoa cultivation, both in Malaysia as well as in other countries where land has been offered under agreeable terms". UPB also
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    • 1442 11 THE INTEREST rate for T; the Repabtic of Costa Rica 0 US$20 million floating rate notes due Nov 18, 1985 for B the six-month period from May 13 to Nov 13 is 19% per cent per annum. The coupon amount per US$5,000 will be C US$507.92 based on
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    • 275 11 FUSAN Pishing Net Manufacturing Bhd, which recently Informed the Kuala Lampur Stock Exchange that It was not aware of any reason for the sharp Increase In Ito share price, yesterday requested that trading In Ita shares be suspended. The request was made to the exchange
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    • 754 11  -  By THE CITY STAFF DIVERSIFIED industrial group, United Motor Works (Malaysia) Holdings is expected to turn in a pre-tax profit of about M 531.314 million (before extraordinary items) in the current financial year to end-December, 1981. This would mean an improvement of about 23 per
      754 words
    • 438 11 THE MALAYSIAN Multipurpose Cooperative Society Berhad's profits grew 7.5 times in the year ended Dec 31,1900. At the pre-tax level, group profit stood at $27.68 million against $3.64 million previously. Group after-tax profit was $26.38 million. Excluding contributions from the associated companies KSM's pre-tax profit advance was even
      438 words
    • 394 11 MERLIN Inn Port Dick Son, the new luxury hotel to be built (model pictured above) at the fifth mile coastal road. Port Dickson, will be part of a new Merlin chain catering to domestic tourists. When completed, the three-storey, 200-room complex will be managed by
      394 words
    • 839 11  -  Market Talk... By WONG SOUK YEE BROKING firm Ong aad Co, in its April issue of Ongco Digest, has recommended OCBC, DBS, UOB, Singapore Land and Bandar Raya as good investments. For stocks with growth potential, it favoured Pan Electric, Hume (Far East), Straits Steamship, Genting
      839 words
    • 589 11 A REVALUATION exercise carried out by Guthrie Berhad in November last year threw up a surplus of $12.2 million which has been credited to the capital reserve. The revaluation by independent valuers pertained to the group's freehold land. At the end of 1900, the net
      589 words
    • 959 11 l! Ex Date Claae Date PayaMe Tatal far tke year Tatalfer Prrviaaa y API Aataanfer BBaya MKMU Cl'SJ' CPraperttaa City Dev CM Stance D Keramat Mt Dev Dulip Eatatea DaalapM F Merita G CwtM Geattaga Gearge Beat Geargetawa Gteaealy GaMCata GtWmti P»rt H Mate HKLaai Haw Par High
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  • 731 12  -  By KOH TSE YING LONG-suspended Hytex Ltd is making a decided r effort to redeem itself back t to the trading boards of i the Stock Exchange of Singapore (SES). 1 The company, suspended I from the SES since mid- > 1976, will
    731 words
  • 170 12 AFP CHINA yesterday restated its opposition to any US arms sales to Taiwan in the second such warning to Washington in 24 hours. > The Workers' Daily made it clear that any >• such sales would hinder "the return of Taiwan to the motherland"
    AFP  -  170 words
  • 279 12 AFP A TOP U8 trade official warned b Bangkok yesterday that negotiations on a new world tin pact mut be wrapped np next month to NNie a smooth transition when the current pact expires. "We're getting dawn to the wire," said ambassador Michael Smith,
    AFP  -  279 words
  • 753 12 NOT SEEKING RE-ELECTION DATUK Hussein Onn announced yesterday that he would not seek re-election to the post of Umno president adding that he would discuss his resignation as the Prime Minister with the new party chief immediately after the Umno General Assembly on June
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  • 860 12 LONDON, Fri. Government bonds were firmer today but equities turned mixed after a higher opening, dealers said. At 3pm, the Financial Times index was up 1.2 piints at 559.3. Trading continued thin today and, with little new time buying to push prices higher, the account ended on a
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  • 74 12 AP NEW YORK, Fri. The stock market headed higher this morning. The Dow Jones average of 30 industrials rose 6.13 points to 979.20 in the first hour. Gainers took a 3-to-2 lead over losers in the early overall tally of New York Stock Exchangelisted issues. Interest rates
    AP  -  74 words
  • 216 12 AFP POLAND'S free trade union Solidarity has called for a major reform of the political system and reorganisation of the bureaucratic system of government in Poland, it was learned in Tokyo yesterday. According to the draft of a Solidarity platform, obtained by Tokyo's Kyodo
    AFP  -  216 words
  • 446 12 AP ISRAELI Prime Minister Menachem Begin, after a crucial meeting with US envoy Philip Habib, said yesterday diplomatic efforts would continue to resolve the Syrian missile crisis, but he gave no hint a solution was in sight. Mr Begin said Syria continued to reject
    AP  -  446 words
  • Page 12 Advertisements
    • 96 12 NOTICE KING'S HOTEL LIMITED (Incorporated in the Republic of Singapore) ANNOUNCEMENT RIGHTS ISSUE OF 9,000,000 NEW SHARES The Directors are pleased to announce that by the closing date, 12th May 1981, the Company received acceptances for 8,985,000 new shares, representing 99.83% of the 9,000,000 new shares to be issued. At
      96 words
    • 153 12 Seminar on the v FOURTH MALAYSIA WAN 1961-85 May 21 22,1981 Ballroom, The Regent of Kuala Lumpur Top Executive Briefing The Seminar will provide an invaluable high-level forum for Malaysian and foreign business leaders to interact and exchange views with top government policy decision makers on the Fourth Malaysia Plan
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  • Page 12 Miscellaneous
    • 71 12 w tmm R \mmmSSsS3mmmmmmmmmmmmmmmmaSmSßr Outlook for Singapore from 6 a.m. to 1 p.m. today: Showers in several places from late morning onwards. Re pert for 24 hoars prior to 7J9 pm on May 15 at the airport. Maximum temperature 32 0 Associated humidity 69 Minimum temperature 24.8 Associated humidity 100
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  • LEISURE TIMES
    • 1041 13  -  Hongkong has started Asia's first diamond bourse, an idea I mooted only about a year ago. Singapore thought of the same idea some three years ago. But yet we are nowhere near setting one up. SIOW LI SEN talks to Mr I Pinsler of
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    • 346 13  -  By LILLIAN CHEW THEY demanded your attention the breathtaking clothes, the execllent choreography and the models who moved so sensually to the music. The event was the 1961 French fasion spectacular of haute couture held at the Mandarin Hotel last Friday. L'esprit de Paris featured
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    • 195 13 SA TOURS has chartered a Singapore Airlines Airbos ASM for a historic demonstration flight on May SI. It will be the first commercial charter flight to iftad at Singapore's new Changi laternational Airport. The 45 minotes flight will take passengers on the tsĕ seater Airbus
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    • 596 13 THE FIRST feature film of one of the world's most inventive directors, JeanLuc Godard, will be shown tonight at eight o'clock at the RELC auditorium. Breathless (A Bout De Souffle), when it first appeared, seemed to many as confusing as it was lively and funny; and it ended in
      596 words
    • 872 14  -  With the postponement of the Malaysia Cup quarter-final second leg, Kedah must feel that it has been inconvenienced more than Singapore and would probably put the blame for its expected defeat tomorrow night on the many trips the players have had to make for the
      872 words
    • 564 14  -  By HYPERION MY CONTENTION that Camberly is the best sprinter in training was hardly borne out by last week's result but the six-year-old took little part in the race and still finished fourth. However, the hand- I icapper has dropped him 2.5 kilograms in the
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    • Article, Illustration
      71 14 SELF praise is as anise, ny the eyalcs. Bat my Pavsarite gelding deserves s pat ea the back. 8s dees R SaekUag. Aad ss dees this caiamlst. My Fsvsarite n pat ap a saperb skewlag last weekead ieavlag Tammy Jack ia tklrd place aad beatiag Native Kingdom II
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    • 791 14 Runners riders and form guide for The Lion City Cup to be run at Bukit Timah on Sunday. Seventeen horses will contest the 1,200 m race, with a purse of $70,000 to the winner. 1. Grand Harvest (14) Four-year old brown New Zealand bred gelding with
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    • 641 14  -  By CHARMAINE CHAN WILL three-under par 65 still be the course record at the Seletar Golf Club after the 1981 Pro-Classic from May 22 to 24? Joe Goh, the club's captain for the last 11 years, seems to think so and with good reason. "Even though
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    • 432 14 TODAY GOLF: SICC: The quarterfinals of the Club Championship tournament is scheduled for this afternoon at the Bukit course. Ong Chew Bee meets T Furuta; Prem Sachdev is Danny Tan's opponent; defending champion Gerald Loong and Douglas Ooi fight for a place in the semi-finals and Tony
      432 words
    • 116 14 THE CHANCE to learn how to play squash correctly is available to enthusiasts (above 18 years old) in learn-to-play squash courses conducted by the Singapore Sports Council and the Singapore Squash Rackets Association. You may not aspire to be a potential Peter Hill or Zainal Abidin
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    • 388 14 APART from a free trip to Paris and London, the winner of the Mandarin Singapore Scrabble ChampionshiplSBl will witness the finals of the United Kingdom Scrabble Championships in London on Jane 21. Daring the week In London, the scrabble champion may play games against some of
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    • Article, Illustration
      1264 14  -  i mm By RADA TOTTENHAM Hotspur won the replay of the FA Cup centenary final and you could never have asked for more. The soccer aristocrats from north London finally managed to put together their superlative skills to beat Manchester City 3-2 in a contest between the beauty
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  • Page 13 Advertisements
    • 6 13 BUSINESS TIMES GIVES YOU THE EDGE
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    • 69 13 BUSINESS TIMES] When we say business we mean just that SHOW your superiority, Young Lions, writes RONALD KOW. THAT fantastic match the FA Cup. RADA wishes to share the ecstasy of Spurs' triumph over Manchester City. YOUR weekend sports diary THE Lion City Cup Camberly will appreciate its weight drop,
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  • Page 13 Miscellaneous
    • 497 13 WHAT WHERE 1 FILM SHOWS AT THE Singapore Science Centre tomorrow. Computers help people and Some call II Software. A perspective on the information machine. At 2.30pm at the lecture hall. The film show is part of a series on computer held every Sunday till June 7. FIELD Hockey Coaching
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