The Business Times, 19 June 1981

Microfilm: NL11165
Total Pages: 22
1 22 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 107/1/81 FRIDAY, JUNE IS, ISBI 60 CENTS
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  • BRIEFLY...
    • Article
      Lock icon Multi-fibre meeting
      70 1 AP HONGKONG, Thurs. Delegates from 19 developing countries, including Singapore, will attend a one-week meeting here from Monday to discuss negotiations on the renewal of the Multi-Fiber Arrangement (MFA). This will be the third of a series of such meetings being held by the developing countries to co-ordinate
      AP  -  70 words
    • Article
      Lock icon Imitation watches seized
      87 1 AFP HONGKONG, Thurs. Customs officers seized more than 5,900 imitation watches and 4,500 watch-component parts, all bearing suspected counterfeit well-known Swiss, Japanese and Chinese trade marks. During the pre-dawn raid on a watch factory, they also seized 100 bogus warranty booklets purported to be issued by a
      AFP  -  87 words
    • Article
      Lock icon America ready to lead
      59 1 Reuter MANILA, Thurs. American Secretary of State Alexander Haig said today the Reagan Administration was ready to lead and, when necessary, to shore up those under threat and danger. "There is a new America that understands that it must once again bear its burdens that history
      Reuter  -  59 words
    • Article
      Lock icon Two days to prepare
      74 1 Reuter TEHERAN, Thurs. President Abolhassan BaniSadr has two days to prepare his defence against impeachment by overwhelmingly hostile deputies in Iran's Majlis (Parliament). After approving final details of the impeachment process yesterday, most deputies rose to chant threats against Mr Bani-Sadr. Outside the two-storey building, crowds
      Reuter  -  74 words
    • Article
      Dissatisfied with Thatcher
      62 1 LONDON, Thurs. Sixty-three per cent of Britons are dissatisfied with Prime Minister Margaret Thatcher against 27 who are satisfied. An opinion poll published by the mass-circula-tion conservative newspaper, Daily Star, indicated this. Another poll in the equally conservative Daily Telegraph reflected similar discontent as only 27.5 per
      62 words
    • Article
      Lock icon French nuclear technology
      72 1 UPI PARIS, Thurs. President Francois Mitterrand said today his government will not sell nuclear technology that can be turned to military uses, but he left open the possibility of rebuilding Iraq's destroyed nuclear reactor. He condemned Israel's bombing attack on Iraq's French-built Tammuz Nuclear Center. There had
      UPI  -  72 words
    • Article
      Lock icon Trade negotiation
      67 1 Reuter BRUSSELS, Thurs.— Japan has made clear that it would prefer to negotiate trade agreements with the whole European Common Market rather than with individual member states, the EEC Commission president said< today. Mr Gaston Thorn said he welcomed this "radically changed stance" as an important element in
      Reuter  -  67 words
  • Chief Price Changes
    • Article
      SINGAPORE
      135 1 Rises Indices Rothmans Batu Lintang Keck Seng Utd Plantationa Batu Kawan Eaao O U E City Dev P M Hldgs MBS Eu Yan Sang 1140 610 610 590 416 630 1420 645 620 560 432 110 75 50 35 26 25 20 20 20 20 16 BT Indicator: Industrials:
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    • Article, Illustration
      KUALA LUMPUR
      155 1 Rises Indices Renong Rothmans Utd Plant Bata Tractor (S) UMW B Llntang 800 1270 680 444 800 685 615 200 140 50 44 40 35 30 BT Index: Industrials: Finance: Hotels: Properties: Tins: Srubbers. June 17 June 18 *****3.70 *****9.12 1194.76 1205.74 1928.42 1930.98 519.06 519.05 1233.96 1237.37
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  • Article
    Rates war worries general insurers
    674 1  -  BLAME FALLS ON BROKERS By LEE YOKE MENG SOME reckless insurance brokers, reacting to keen competition in Singapore, are undercutting rates to such an extent that general insurers and reinsurers are becoming increasingly worried. And unless the authorities impose more stringent requirements on brokers, the
    674 words
  • Article
    Team formed for petroleum centre
    242 1 AN EIGHT-MAN committee has been formed to take charge of the multimillion dollar International Petroleum Centre (IPC) project in Jurong. The team was formed at a meeting between the two major shareholders of the proposed centre, the Singapore Government and the Kuwaiti Government. Singapore is
    242 words
  • Article
    Mechanising the building trade
    404 1  -  By FONG MEW LENG CONTRACTORS have invited the Government, the National University of Singapore, and the Singapore Polytechnic to advise them on how to mechanise their operations. Representatives from these bodies will be sitting on a sub-committee on mechanisation formed by the Singapore Contractors Association Limited
    404 words
  • Article
    Functioning date of NCB
    351 1 THE National Computer Board will officially start functioning in August. The bill to set up the board was tabled in Parliament on Monday for its first reading. Parliament is expected to pass the bill after its second and third reading at the next sitting of Parliament,
    351 words
  • Article
    Intraco wins sole agency for nine Chinese products
    237 1 INTRACO, a givemneitbacked trading organisation, has been appointed sale agent In Singapore far nine products af the China National Machinery and Equipment ImportExport Corporation (CMEC). The agency agreement, on a yearly basis, was signed yesterday by Mr Charlie Phun, Intraco's general manager,
    237 words
  • Article
    Acceptances market in two years
    315 1 THE long-awaited market in Asean bankers acceptances (BAs) market may be operational in less than two years. According to Mr H Omar Abdalla, chairman of the Asean Banking Council (ABC), the monetary authorities of Asean countries have agreed to reconsider a US-dollar based regional bankers
    315 words
  • Article
    Likely chief of AFC
    164 1 THE chief executive officer of the Asean Finance Corporation (AFC) is likely to be a Singaporean. No names have as yet been officially disclosed but most observers believe it will be Mr Chua Kim Yeow, president of the Development Bank of Singapore and newly-ap-pointed head of
    164 words
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      0 1 ;*[-~._?`==?",|?(_$\^*@%'/<!>?[
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      42 1 TheChesaal the Hotel Equatorial thinks highly of aDiriersGub member The authentic Swiss atmosphere and charm of the Chesa among the many exclusive restaurants in Singapore who think highly of a Diners Club member. Call 294 4222 for your application form today. S
      42 words
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      Page 1 Advertisements Column 3
      75 1 Leader... page I mm SHIPPING TIMES MAJOR changes in Polish FEDERAL Reserve has a rebelCommunist Party........""—"""* on on hands 8 UNUSUAL corporate style of HWA Hong share Incentive Idemltsu K»san.• 5cheme..................... 11 BONANZA for rnbber small- BASIS of allotment of Hong Fok holders 14 TV ANT) RADIO f CROSSWORDS WHERE
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      Page 1 Advertisements Column 4
      207 1 AGOODBOOK RECENTLY? FIND IT AT la Times Bookshops R<<IMIVI<I > He said it was artificial respiration, but now I find I am to have his child." A. Burgess There are many fools at a university as elsewhere But their folly, I admit has a certain stamp the stamp of university
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  • REGIONAL
    • Article
      DAILY AIRCRAFT MOVEMENTS
      801 2 ARRIVALS Service Local Operator Number Time From RBA BI427 0930 BWN MAS MH671 1000 PEN KUL SIA SQ201 1000 HLP CPA CX710 1005 HLP SWR SR176 1015 ZHR GVA BOM GIA GA850 1030 HLP GIA GA908 1045 MES SIA SQ103 1045 KUL MAS MH605 1045 KUL PAL
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    • Article
      Lock icon Agreement will accelerate economic growth
      193 2 AFP IN MANILA yesterday, Asean set in motion its industrial complementation package by signing an agreement that will further accelerate the organisation's inter-regional trade. Foreign Ministers of Singapore, Indonesia, Malaysia, Thailand and the Philippines signed the agreement committing them to manufacture products which would enjoy
      AFP  -  193 words
    • Article
      Lock icon Enough oil for Jakarta by 1987
      94 2 Reuter INDONESIA should be selfsufficient in oil, including refined products, by 1987, according to the presidentdirector of the state-owned Pertamina Oil Company, Mr Yudo Sumbono. Speaking yesterday at the ground-breaking ceremony of a new US$l billion hydrocracker refinery in Dumai, North Sumatra, he said
      Reuter  -  94 words
    • Article
      Lock icon Asean welcomes efforts to form anti-Yiet front
      367 2 Reuter ASEAN yesterday called for a UnitedNations peacekeeping force to be sent to Kampuchea and welcomed efforts to form an anti-Vietnamese united front in the country. In a joint communique issued at the end of a two-day Foreign Ministers' meeting in Manila, it
      Reuter  -  367 words
    • THE REGION IN BRIEF
      • Article
        Lock icon NIPPON OIL'S COAL DEAL
        421 2 Agencies NIPPON Oil has reached an agreement with Caltex Australia to buy up to 750,000 tons of coal a year from the Bayswater collieries in New South Wales. An official of the Japanese company said the deal provides for the shipment of 400,000 tons in 1982
        Agencies  -  421 words
    • Article
      Lock icon Muldoon proposes trade pact with EEC
      207 2 Reuter A TRADE treaty can provide a long-term solution to problems between New Zealand and the EEC. New Zealand Prime Minister Mr Robert Muldoon, who proposed the treaty, said, "In this way, we get rid of the political issue which has been a worry
      Reuter  -  207 words
    • Article
      Lock icon Reagan may visit Australia
      80 2 UPI PRESIDENT Reagan may visit Australia "when he gets more time". Mr Robert Nesen, the new US ambassador to Australia. said: "I am certainly pushing him to visit." He predicted sound relations between Mr Reagan and Prime Minister Mr Malcolm Fraser. He said he was unaware
      UPI  -  80 words
    • Article
      Lock icon HUA FREED FROM CENTRAL PARTY SCHOOL
      213 2 AP CHAIRMAN Ha* Guofeng has been released from the central party school after eight months of political reeducation and is attending preparatory' sessions for a central committee meeting. Diplomatic sources said yesterday Mr Hna has not been considered sufficiently repentant about his leftist errors.
      AP  -  213 words
    • Article
      Lock icon Dutch will insist Japan holds level of car exports
      436 2 Reuter JAPANESE Prime Minister Zenko Suzuki arrived in the Netherlands yesterday and can expect to be told that the Dutch will allow higher car imports from Japan only if its overall car exports to the Benelux countries this year is kept
      Reuter  -  436 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      102 2 BELLISSIMO by DIETHELM The ultimate in comfort 1 I Rk SWISS LINE DIETHELM Bellissimo Lounge is a new addition to the Diethelm Swiss Line 2000 Collection. Based on latest upholstery techniques, it features unique flexible armrests and is available in luxurious fabric upholstery or aniline dyed leather. The Bellissimo range
      102 words
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      Page 2 Advertisements Column 2
      138 2 k? y HSn m lli JL I. i-i i. W r .v Organisers INTERFAMA PTE LTD. 834. World Trade Centre Maritime Square Singapore 0409 Tel: *****12 Telex RS ***** INFAMA 'A VICTOR &MCKRIS pte.eid. THE PEOPLE WHO [OiV/iiih-i i :Til I hi Now offers you luxury apartments in SURFERS RARADiSE
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  • OVERSEAS
    • Article
      Lock icon Russia condemns US decision to arm China
      554 3 AFP SOVIET officials reacted angrily on Wednesday to the United States' decision to supply China with offensive weapons, calling it a "provocation" and part of a worldwide "anti-Soviet strategy" developed by the Reagan Administration. The Soviet news agency Tass made an unusually long
      AFP  -  554 words
    • Article
      Lock icon Poor prospects for Habib's peace mission
      249 3 Reuter THE ISRAELI government believes prospects are fading for the success of American peace envoy Mr Philip Habib's mission to end the Lebanon missile crisis, official sources said. Mr Habib met Prime Minister Menachem Begin in Jerusalem yesterday after arriving from Syria on Wednesday
      Reuter  -  249 words
    • WORLD IN BRIEF
      • Article
        Lock icon MONITORING MISSILES
        383 3 Agencies THE UNITED States has been monitoring Soviet missile tests for more than a year from two secret surveillance stations in China. The NBC television network reported on Wednesday that the stations were built by the United States and were operated by American-trained Chinese technicians. THE FRENCH gtvenuneat
        Agencies  -  383 words
    • Article
      Lock icon SOVIET ECONOMY CONTINUES DULL SHOWING
      184 3 NYT THE SOVIET economy continued Its lacklustre performance as statistics showed that industrial output In the first five months of the year rose only 3.2 per cent against a 4.1 per cent annual target. Figures published on Tuesday In the weekly EkoaomJcbeskM}M Gtseta indicated that
      NYT  -  184 words
    • Article
      Lock icon Reshuffle in Polish Communist Party
      722 3 NYT A MAJOR change in the ranks of the Polish Communist Party is taking place as the election of delegates to an extraordinary party congress one month from now reaches the halfway point. Partial results indicate that more than half the delegates are new, meaning
      NYT  -  722 words
    • Article
      Lock icon Opec meeting on long-term pricing strategy
      372 3 Reuter AN OPEC group chaired by Saudi Arabian Oil Minister Sheikh Ahmed Zaki Yamani held another meeting yesterday to review long-term pricing strategy in the light of reduced Western demands and a world oil glut. Venezuelan Energy Minister Humberto Calderon Berti said Opec (the
      Reuter  -  372 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      37 3 U r# Available io five beautiful colours: Brown, Navy, Grey, Camel, Taupe Suede €URO SHO€ SHOP THE MARCO POLO HOTEL. SHOP 5. TANGLIN ROAD SINGAPORE 1024 TEL *****52 CABLE "EUROSHOE OPENS ON SI !NIMY KMXfcun u> HlMlpm
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      Page 3 Advertisements Column 2
      177 3 1 ,u I M 3* /n addition to the privacy of the upper deck. ite otm senior steward and unshroom, Business Class passengers enjoy separate check-in and priority baggage handling privileges, hot entrees. a selection from two hot ma i n courses, fru it basket and k cheese tray. And
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  • RAW MATERIALS
    • Article
      Lock icon US unlikely to join tin pact
      302 4 Reuter THE US has so far failed to resolve differences of finance and export controls with producer countries, making its participation in a Sixth International Tin Agreement uncertain. US sources declined commenting on the prospects of a United Nations tin conference which aims to
      Reuter  -  302 words
    • Article
      PALM OIL
      132 4 IN THE Kuala Lumpur market yesterday, physical prices fell further on nearby selling and continued easiness in the Kuala Lumpur Commodity Exchange, dealers said. In June, south eased $20 to $1,120 and north was traded down to $1,140. In July, central dropped $20 to $1,100 and south $37.50
      132 words
    • Article
      TEXTILES
      193 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Cotton yam: China Blue Phoenix 20s 2,360; 32s 2,875, 40s 3,035 (per bale of 400 lbs). Ptoee goods: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
      193 words
    • Article
      RUBBER
      228 4 RUBBER prices in Singapore yesterday closed slightly easier with July One RSS buyers qugted at 248.50 cents per kilo, down 3.50 cents from Wednesday's close, dealers said. Morning prices were marked down slightly on speculative selling and lack of buying support. Afternoon prices lost further ground on lower Japanese
      228 words
    • Article
      RAS PRICES
      364 4 RAS prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 240 50 241.50N 238 50 239 50N Int. 1 R.S.S. July 250 50 251.00 248 50 249 00 Int. 1 R.S.S. August 255.50 256 00 253
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    • Article
      SSR and SMR
      106 4 NOON SSR and SMR pricet yeaterday. RAS SSR 20 SSR SO (1 ton pallet) (l-ton pallet) July (Current Mth) Buyer* Sellera 218.00 220 00N 215.50 217.50N August (Forward Mthl Buyer* Sellera 220.00 222.00N 217.50 219.SON MRELB SMRCV SMRL SMR 5 SMR GP SMR 10 SMR 20 SMR
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    • Article
      SOYBEAN
      103 4 SOYBEAN futures in Chicago on Wednesday closed weak, down 10"2 to eight cents a bushel. Local long liquidation and speculative selling in response to weak technical aspects dropped prices for losses from tfie start. Values received support around the November based J7.55 level. However, the market closed weak since
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    • Article
      Straits Tin
      76 4 THE STRAITS tin price in Penang yesterday recovered five rents to M 523.41 a kilo, still within the IT A lower range of $27.28 to $31.91, dealers said. The recovery was attributed to a steadier overnight 1/ondon market, renewed strong baying from Japan, Enrope and locally and continued
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    • Article
      CLOSING PRICES
      34 4 Rubber: June 18 Singapore: July: 248.50 cents (down 3.50 cents) Malaysia: July: 269.50 cents (down 3.50 cents) Tin: M 529.41 per kilo (up 5 cents) Official offering: 219 tonnes (up 69 tonnes)
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    • Article
      WHEAT
      194 4 WHEAT futures in Chicago on Wednesday closed mixed, down I s cents a bushel in nearbys, to up one cent in deferreds. Prices declined at the start as locals sold'on weak technical aspects and forecasts for improved harvesting conditions in major US winter wheat crop areas, traders said. Steady
      194 words
    • Article
      Produce exchange
      187 4 CHINESE Produce Exchange, Singapore, noon closing prices per 111 kg yesterday. Cocoont oil: Bulk fob $116 00 sellers, old drum (in second hand drum) fob $129 00 sellers, new drum fob $135.00 sellers. Copra: Mixed (loose) $69.00 buyers Pepper: Muntok white pepper fob Asta NLW $407.50 sellers. Sarawak
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    • Article
      RICE
      325 4 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.34. 100 per cent second class unq. 100 per cent third class 1 05. 25 per cent new crop no stock. B-10 per cent no stock. THAI BROKEN: A super
      325 words
    • Article
      LONDON MARKETS
      835 4 COFFEE: Robusta futures yesterday continued their firm opening trend to end the midday call at the highs after trade and commission house buying lifted futures by £25 to £35 a tonne. Futures had opened higher as reports of low temperatures in northern Parana, Brazil, prompted nervous dealer short
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  • ASIAN STOCKS
    • Article
      Shares close mixed
      556 4 TOKYO SHARE prices yesterday closed mixed in active but nervous trading with investors alarmed by high prices and possible trading curbs in margin transactions, dealers said. The market average gained 6.71 to 7,712.01, close to a record 7,729.63 at the morning close on last Tuesday, but the
      556 words
    • Article
      Hongkong
      264 4 AFTER a firm opening yesterday, the market renewed its recent sharp downward trend. Small investors continued to make up the bulk of the selling as many took short positions. As the market neared the 1700 level, big buyers returned, pushing the index back to close the morning 5 points
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    • Article
      NEW YORK STOCK MARKET
      860 4 JUNE 17 uss ACT Industrie* «7>« Addreaaograph 13*4 Airco Inc Aleut Aiumin Sit Alleghenj Lud Allied Chem Cp W-i unch Allied Storei Allls-Chalmers T1S Alumhoo Amer Am Airline* li* Am Brands Inc 43 Am Broad cut 3D* Am Can Co 41* Am Cranamld Am Elec Pwr
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    • Article
      Sydney
      240 4 SELECTED industrials provided the only spark to trading as the rest of the market continued to drift, dealers said. JUNE it Cent! INDUSTRIALS A. C. L 1H unch A N 1 yrt >2 A. P M 220 ♦a Ampol Pet. 175 +3 B H P. 1500 -18 Bank NSW
      240 words
    • Article
      Bangkok
      71 4 JUNE U Bahta Asia Fibre m uncn Ayuthaya In* And Trust Banckok Bank Bank Of Ajrudhajra I» ♦f I-M Berll Jucker Cltaroonc Thai Wlr. m unch rim Tnat M -i Industrial Finance Corp International International Trust And F*u Rama Tower I 07 JO -01 Saha Union 1M uncti Slam
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      Manila
      81 4 'JUNK 10 Pin* A co)* Mining MM -OMM AUu Con. A AUu Con B. MM unci) Baguto Ootd Man unch Benguet Con B BF Goodrich MM unch CDCP Landoll Ltptnto B. .1190 0.0025 Martnduque B •JO unch Orient*! A Oriental B 062 -0-001 Phil Onmaa* «7 -0.001 Phlle* A
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    • Article
      Selected indices
      53 4 FINANCIAL TIMES INDUSTRIALS Wednesday 544.8 Tuesday 551.4 Week Ago 542.5 DOW JONES AVERAGE INDUSTRIALS Wednesday 1000 50 Tuesday 1003.33 Week Agc£ Z »175 H.K.HANG SENG Thursday 1143.11 Wednesday 1728.57 Week Ago 1754.33 AUSTRALIAN INDUSTRIALS Thursday 749.6 Wednesday 748.5 Week Ago 746.0 ALL ORDINARIES Thursday.* 709.7 Wednesday '12. 1
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  • Page 4 Advertisements
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      308 4 FIRST NATIONAL BANK IN DALLAS DALLAS, TEXAS (INCORPORATED IN THE USA WITH LIMITED LIABILITY) Independent Auditors' Report To the Board of Director*, First National Bank in Dallas: We haw* examined the consolidated statement of condition of First National Bank in Dallas la wholly owned subsidiary of First International Bancshares, Inc.)
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  • TRADE AND INDUSTRY
    • Article
      Small companies are taking to loan scheme
      214 5 LOANS given to local industries under the Small Industries Finance Scheme during the first quarter of this year amounted to more than |20 million. This amount indicates that small local companies are making more intensive use of the scheme because for the whole
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    • TRADE TALK
      • Article
        PACIFIC Roller Die,
        149 5 an American designer and builder of metal processing equipment, will be among the 60 American manufacturing companies taking part in Ampro-Asean '81. The company, based in Hayward, California manufactures machinery for making spiral pipes. Three senior executives of the company will be in Singapore from July 6
        149 words
      • Article
        SINGAPORE Technical Services
        87 5 has taken delivery of a Texas Instruments computer just six weeks after management at the company decided that "life had practically become impossible without a computer." The purchase was made from Texas Instruments' authorised distributor in Singapore, Tet Wai Computer Services. According to Mr Dan Nelson, executive
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      • Article
        TWO
        100 5 antique Chinese scrolls depicting prosperity, health and longevity, were presented to the group general manager of Malayan Breweries, Mr J D H Neill on Tuesday to commemorate the 50 th anniversary of Tiger Beer. Mr Neill received a scroll each from the president of Malaysian Breweries Distributors Association, Mr
        100 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      240 5  -  Mr Ivan Baptist. EAST Asiatic Company Singapore has appointed Mr Klaus V Morch as its managing director. Mr Morch, who succeeds Mr R Schwartz Hansen, headed the EAC's imports department in Cambodia from 1961 to 1964, and was trading manager in South Vietnam from 1964 to 1967.
      240 words
    • Article, Illustration
      SIA consolidates past gains
      385 5  -  By BERNADETTE CHOOI ALTHOUGH Singapore Airlines is expected to grow at a slower rate in the future, both its major shareholder and management are not unduly perturbed. "I am relieved to learn from the (SIA) chairman that future growth will slow down," said First Deputy Prime
      385 words
    • Article
      OPTIMISM AT KORN FERRY
      234 5 A RECRUITMENT agency which helps its customers fill senior executive positions has discerned a change in the nature of its business. "Initially, most of our work was geared towards finding local managers to replace expatriates. Now, we see a shift back towards recruiting expatriates," said Mr
      234 words
    • Article
      MEMO PAD
      690 5 SEMINARS AND COIHSES June 6 and 20: Motivational Selling Seminar, SIM Conference Room, Singapore Institute of Management June 12-July 6: CDP Module 5 (Computer Management), NPB Cuppage Centre, NPB June 15-19: Foreign Exchange Workshop, Marco Polo Hotel, Bank of America June 15-July 17: EDP I (Business Management) Module
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  • Page 5 Advertisements
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  • Article
    Make no mystery of medicine
    408 6 MEDICINE MEN have always commanded a certain respect from the rest of society. In the days of old, when medicine and mysticism mixed in the murky depths of the witch doctor's hut, he was a powerful force. He held in his grubby hands and his
    408 words
  • Article
    Seal deserves our full support
    272 6 THE CALX, to contractors to mechanise has been made for some time but there is little to show that it has not fallen on deaf ears. Contractors have resisted pressures to modernise and mechanise building methods, a stubbornness which cannot be attributed to the lack
    272 words
  • Article
    Lock icon It's typically Japanese
    869 6  -  Japan's second largest petroleum refiner, Idemitsu Kosan, has a corporate style that is unusual by any standard. MIKE THARP provides the details. In another article, he discusses the running of Ikegai Iron Works, a Japanese machine tool maker. MIKE THARP NYT IDEMITSU KOSAN, Japan's second-largest petroleum refiner,
    NYT  -  869 words
  • Article
    Lock icon No problems in the US
    595 6 NYT MACHINE TOOLS, simply put, are machines that make the parts for other machines. They comprise a multi-billion dollar market in the United States, and models range from hand-operated devices that shape and plane metal to sophisticated computer-linked systems that build robots. Among the half-dozen
    NYT  -  595 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      227 6 A result of ITT research, experience and ingenuity, the UNIMAT 4020 EPABX system needs no skilled operator. Not even a console. It can be operated via a standard telephone by anyone in the office. Yet it has "business sense" previously available only in much larger, more complicated systems. "Business sense"
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  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      27 6 BriStoW":FtenkDidte=ag ■MM! SuKPJLS Nbu DoK'T G*PecT OUR DR»>CRS TO GO OUT «N TMCSe COHDIT,ONS?, FGGeXiNG FOG V •a* *AkLi Dejetofko strrm seNSe. £>rrep\-sensor %go£Fron.*x> cavGKT CPOJ. *T..
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    • Miscellaneous
      Page 6 Miscellaneous Column 2
      1391 6 The humane side of Rico THE SOFTER side of a Mafia head is never seen. Tonight's TV Movie The Family Rico (channel i, 1t.35)" attempts to portray the more humane aspects of Rico (played by Ben Gaxarra) who leads a Mafia-like organisation. He Is torn between his love for Nick,
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  • Article, Illustration
    Lock icon ONE BIG SNAG
    1306 7  -  By DILIP MUKERJEE Depthnews LIKE THE MIRACLE seeds which have dramatically raised cereal yields in many parts of Asia, science has a bonanza to offer to the rubber smallholder, too. By cutting down old trees and replanting with new strains, he can increase his income from each
    Depthnews  -  1,306 words
  • Page 7 Advertisements
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      1146 7 Milestones in a Sirens Business Year Balance Sheet as of December 31,1980 Assets Cash, clearing and postal checking accounts Due from banks Due from banks on demand Due from banks at fixed dates Due within 90 days Due from banks, total Bills and money market paper Resorptions and treasury notes
      1,146 words
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  • BANKING AND FINANCE I
    • Article
      Lock icon Banks rebelling against the Fed
      2432 8 COPING WITH COMPETITIVE PRESSURES The Federal Reserve has a rebellion on its hands. Many US bankers complain that the Fed has failed to stand up for them in the face of competition. Many now find it hard to remain obedient to the board and are
      NYT  -  2,432 words
    • Article
      Lock icon Japanese seek higher coupon
      241 8 Reuter JAPANESE banks plan to ask the finance ministry to raise coupon rates on 10year national bonds from next month above the present 7.6 per cent. Shuzo Muramoto, president of Japan's Federation of Bankers' Associations, said a syndicate of 33 Japanese banks and securities firms were
      Reuter  -  241 words
    • Article
      Lock icon Euroyen bond from NZ
      89 8 Reuter NEW ZEALAND is issuing a 6'j year Eurobond for 15 billion yen, only the third yen Eurobond this year. The bullet issue carries an indicated coupon of per cent and open pricing, with final terms to be set on Tuesday, lead manager Daiwa Securities said.
      Reuter  -  89 words
    • Article
      Lock icon Failure to meet debt payments
      176 8 Reuter NORTH KOREA has failed far the past eight ta aiae month* to make payments on same (SI million deatscbemarks la reflaaaeed debt. TV 1 debt, reflaaaeed last year, is awed to abaat 7S UK aad Centtaeatal banks represented by Margaa GreafeU aad Co Ltd
      Reuter  -  176 words
    • Article
      AMEX
      78 8 AMERICAN Express Corp has held preliminary talks on the possible sale of its wholly-owned subsidiary American Express International Banking Corp. The disclosure was contained in proxy materials filed for a special shareholders meeting due on June 29 to approve the acquisition of Shearson Loeb Rhoades lnc by American Express.
      78 words
    • Article
      Lock icon BONDS AND LOANS
      684 8 Agencies, PAKISTAN has given a verbal mandate to three international banks to raise its US$l5O million Eurocredit at interest rates significantly reduced from last year. The 15-month import financing facility will carry interest at per cent over London interbank offered rates (Libor). Sources noted that Pakistan's last
      Agencies,  -  684 words
    • Article
      Lock icon EIB offers yen issue
      106 8 UPI THE EUROPEAN Investment Bank (EIB) will issue 2t billion yen worth of yen bonds in Japan next week to raise funds for its general operations. Nikko Securities Co announced that an underwriting agreement on the issue was concluded in Tokyo yesterday between the bank and
      UPI  -  106 words
    • Article
      Uninspiring profit growth
      390 9 HIGH interest rates, narrow margins and increasing operational costs have brought profit growth at UDA Merchant Bankers to a standstill. The merchant bank reported a pretax profit of $2.01 million for the year ''ended Dec 31, 1980 compared with the "previous year's figure of $2.02 million, then
      390 words
    • MONEY AND EXCHANGE$
      • Article
        ASIAN $ RATES
        196 9 ASIAN RATES ASIAN currency deposit interbank rates as at close on June 18. ■r US Doll*r*(Spot) :>U~ Offer Bid 7 days 18 k 18' 2 1 month 18 9/16 18 7/16 7 m '2 months 171, 17^. 3 months IV, I7H 6 months 17 1/16 17 5/16 9 months 16
        196 words
      • Article
        Singapore market
        464 9 THE LOCAL foreign exchange market was quiet and lethargic yesterday. On the whole, the US dollar managed to maintain its strength against major currencies. Trading of the US dollar against the Singapore dollar was carried out within a narrow range from 2.1290 to 2.1340. It opened at 2.1340
        464 words
      • Article
        PLR
        22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 13.3 per cent.
        22 words
      • Article
        Discount
        46 9 RANGE of prices offered by discount houses on June 18: Overnight: Call deposits: 3% to C'4% Clult Bayiac Selliaf 3- month Treasury bills 6H 6 1/ 3-month Bank bills 1311/1613 9/16 3 months CD 13 12H 6 months CD 12H 12'<. Source: National Discount Co
        46 words
      • Article
        GOLD
        230 9 SINGAPORE gold futures yesterday closed generally easier in quiet trading, with the initial fall reflecting the metal's weakness in New York on Wednesday night, dealers said. Total sales for the day was recorded at 35 lots while kerb volume at 67 lots with interest mainly centred on August and
        230 words
      • Article
        Silver quotes
        40 9 W*4 Tare New York 10 10B 101SB ***** 1035S Zurich 10 00B 996B 10 2QS 10 15S Than WH Singapore 10 10B 10.15B 10.90S 10 35S Closing prices in US dollars a troy ounce. Sauce: Credit Saiaa* 8'pare.
        40 words
      • Article
        TOKYO
        146 9 THE US dollar for overnight delivery yesterday closed firmer at 221.90 yen, compared with a 221.70 opening here, a 221.35/45 closing in New York and 221.45 55 on the West Coast on Wednesday, dealers said. This was also firmer from a 221.05 closing here on Wednesday. Trading was active
        146 words
      • Article
        HONGKONG
        91 9 THE US dollar yesterday held steady against most major currencies in quiet late trading. The dollar, however, eased slightly against the yen to a late 221.95/222.05, compared to its early 222.40/50. The Hongkong dollar eased to a late 5.5280 5310 to the US unit, after an early 5.5180 5230,
        91 words
      • Article
        London
        48 9 Opening quotes yesterday US 1 9855 65 Can -2 3930 50 Cross 1.2054 57 D Mk 4 6865 6910 D F1 5.2075 2130 S Fr 4 0900 40 B Fr (con) 76.48 56 F Fr 11 1580 1735 Lit 2336 75 2340 90 Yen 440 06 88
        48 words
    • Article
      Lock icon INTEREST IN ASEAN FINANCE
      182 9 AFP NINETEEN Malaysian and foreign commercial banks have bought shares in the Asean Finance Corporation (AFC) through a newly formed holding company called AFC Holding (Malaysia) Berhad. Subscriptions to-date total M $21.95 million which Ls equal to the country's quota of $2t-mlllion allocated to each Asean
      AFP  -  182 words
    • Article
      Panamanian pipeline
      114 9 A SYNDICATE of American, European and Japanese banks is expected to sign a I SS25# million loan agreement on Monday in New York for the construction of a trans- Panamanian pipeline. IV Nikkan Kogyo Shimbin, a Tokyo industrial dally, quoting International financial sources, said the syndicate, led by
      114 words
    • Article
      MNI enjoys sharp earnings rise
      568 9 MALAYSIA National Insurance (MNI) recorded a net profit of M 55.42 million last year, a hefty 78.5 per cent increase over the previous year's level MNI was one of the companies in the Pernas stable which had the the bulk of its shares transferred to
      568 words
    • Article
      Lock icon Slower rate of growth
      268 9 Reuter THE RATE of increase in Japan's money supply was low in 1980 because of a large shift of personal savings to postal deposits as well as the government's tight money policy and a business recession. Daiwa Bank said in a monthly report the year-on-year increase
      Reuter  -  268 words
    • Article
      Lock icon NO AGREEMENT
      140 9 Reuter TALKS between Japan's semi-official Export-Import B*nk (Exlm) and visiting Soviet Deputy Foreign Trade Minister Viktor Ivanov over a !'SS4M million Japanese bank loan have been stalled because of differences on interest rates. The bank said negotiations for the loan, to finance Soviet Imports of 754, Ml tonnes
      Reuter  -  140 words
    • Article
      THREE MORE RAISE PRIME RATE
      241 9 ANOTHER local bank, the Asia Commercial Bank, is raising its prime lending rate today to 13 1 2 per cent from 13 per cent. On Wednesday, Industrial Commercial Bank became the first local bank to move its prime above 13 per cent. It attributed the
      241 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      647 8 RAINIER NATIONAL BANK AND SUBSIDIARIES (Incorporated with Limited Liability in the United State* of America) CONSOLIDATED BALANCE SHEET, 31st DECEMBER, 1980 1979 (In Thousands of US Dollars) Cash and Due from Banks Due from Banks, Time Federal Funds Sold and Securities Purchased Under Agreements to Resell Investment Securities: U.S. Treasury
      647 words
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      Page 8 Advertisements Column 2
      41 8 With reference to our publication orv 25.05.81 please note! that the Group's; Provision for income tax y/A 1981 in the Profit Loss account year ended; 31.12.80 should read $760,800.00 and not $760,000.00 Sinf investments I France Limited Dated 19th June 1981
      41 words
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  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      368 9 STOCKS IN TRANSITION AS U.S. ECONOMY GEARS FOR BIG GROWTH Hibernating companies will respond to new tax incentives U.S. business and the U.S. stock market have been confounding recession-mongers for the past six months. An economy that was supposed to be strangled by high inflation and higher interest rates Instead
      368 words
    • Advertisement
      Page 9 Advertisements Column 2
      397 9 ¥*4 •u >» A-.<mm P* j, |pL w? w n ■KT i > x- "V -I V !> At Green Lodge we offer you the living Style Of the future a spectacularly designed home not only located in one of the most pleasant residential areas, but also just minutes away
      397 words
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • Article
        Amsterdam
        190 10 JUNE 17 Fls abn 288 00 -6 Ahold 72J0 -U All so 20 80 01 amev 90 30 -08 Am fas 102.00 unch Amrobnk 5600 -Z* Berfoas Berk 36.00 47 JO unch BoU 82.50 -OT BorsumlJ 184.50 13 Burhmann 56.00 -0.6 Cal&nd 37 00 unch Calve Delft 203 00
        190 words
      • Article
        Paris
        276 10 JUNE 17 rr» CORBEILLE Alr-Llqulde 390 4 15.5 B 8 N nervals Danont 907 48 C 8 F (ThomsonCaf) 207 -2 Cle Francalse des Petroles 124 -18 Compacnlc Flnanclere Compafnle General* 300 -5 Credit Foncler De Prtncc 292 7 Hachette (LIbralrte). 279 -1 Machines Bull 40 40 -16 Mlchelln
        276 words
      • Article
        Brussels
        95 10 JUNE 17 FT* FORWARD MARKET Acec 285 unch Arbed USO Astur 330 24 Brase an 1124 Bru Lam b 1080 0 Canpac 14M 42 Cock 148 unch D* B*ers 291 -2 tbei 1310 TO Electrobel 2000 -30 Gb-Inno-Bm 1770 -S G*v 1220 4 Hobok 2100 -50 Petro 3000 -40
        95 words
      • Article
        Zurich
        181 10 JUNE IT Francs Actions SuUms ass -1 AlusuUae Br loao -IS Alusulsse tieg 396 Brown Boverl Br 1330 20 Clba Oelfy Br 1235 S Clba OelfJ PC #30 -10 Ob* (ielgy Reg Credit Suisse Br 542 -3 2275 -S Credit Suisse Keg «0» •1 Elektrowatt Br 2530 30 Oeorfe
        181 words
      • Article
        Milan
        95 10 JUNE IT Lire Ante 7M unch Aiior Oen *****0 -2400 Buto«1 400 50 CentraJe Flal 2200 230 Flnslder 78 34 0«n Immoti 2400 250 IF1 Prt 50W*d -1311 Iltlctn»ntl ***** 1700 IULICU 1219 141 I Laisidfr 315 30 Mafnm M Pf 1000 40 Marelll Ere SUSP Medlob *****0 7300
        95 words
      • Article
        Lock icon Goodrich sells stake
        120 10 AP B F GOODRICH has sold 15,750,000 shares of the common stock of Yokohoma Rubber Co of Japan (YRC). The sale, which was made principally to other YRC shareholders on Wednesday, will increase Goodrich's second-quarter net income by approximately 9.1 million. The sale of YRC shares is
        AP  -  120 words
      • Article
        TORONTO
        198 10 JUNE I? CS AblUM 2S Aican 38-* -H Alfoma 47 Bulk Mont 2SH Bank Nov* Scotia 2T« H Bell Tel m Beth Corp BP Can Lid ZZ -<* Brascan 35H Camp Red Lake 1«H Can Imp Bk 2#*» Can par 46 -1 Can par Inv Pf 271 unch Car
        198 words
      • Article
        JOHANNESBURG
        301 10 JUNE n Rand 4-/. INDUSTRIALS A Alpha 406Xd unch A bercom 410 unch AE And CI 875 15 2626 unch Barlows 1000 unch Cf Sugar rfcA 1826 520 -25 Currte Finance 225 unch De Beers Ind 3700 Edcon 830 Mgiw 8150 Eve ready Fed Vol* 525 10 Fucll 280
        301 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      617 10 FRANKFI RT stock market was closed on Wednesday. See Page 4 for Asian stocks and New York prices The American Express Card serves you well, wherever good food is served". SWALiii tiprp i It o wine,dine and entertain fit(JUL* JAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights.
      617 words
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      Page 10 Advertisements Column 2
      295 10 thdf theft* ISO*" The rumour is true. For The Citation is a very private and exclusive dub for business executives. Secluded beneath the Cockpit Hotel, its furnishings are the very finest; the atmosphere appropriate for business entertainment. Come and experience a businessmen's haven. A WAY OF LIFF a Oxiey R*e/
      295 words
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  • COMPANY NEWS I
    • Article
      Sentosa confident of return to the black
      299 11 SENTOSA Plywood Berhad, the control of which changed hands recently to Syarikat Permodalan Kebangsaan, is optimistic of returning to the profit path after straying into losses last year. In his latest annual statement to shareholders, Sentosa chairman, Datuk Nik Hussain bin Nik Ali
      299 words
    • Article
      Apollo seeks outlets for investment
      563 11 APOLLO Enterprises will continue to look for new investment opportunities to expand its base of operations. The company had earlier attempted to secure a hotel project under the Urban Redevelopment Authority land sales, but the tender was unsuccessful and Apollo lost more than half a
      563 words
    • Article
      COMPANY BRIEFS
      319 11 THE NET tangible asset backing of Harimao Investments, based on the group's unaudited accounts as at May 31, was $1.52 per share, compared with the previous month's $1.56. Assuming full conversion of the loan stock into ordinary shares, the NTA per share would be $1.35 as at May
      319 words
    • Article
      Hwa Hong share incentive scheme
      347 11 FULL TIME employees if Hwa Hong Muiltrtortag may soon be give» an •pportanlty to ptrtidpate In tkelr company's performance. The opportunity comes in the form of tlw Hwa Hong share Incentive scheme IMI, which the eompany is proposing as a fringe benefit to employees. Under
      347 words
    • Article, Illustration
      Pan-El chairman calls for rational mergers
      1001 11  -  By KOH TSE YING THE chairman of Pan-Elec-tric Industries, Mr E E Kahlenberg, has called for government aid to set up "rational mergers" between companies with similar interests. "There is a pressing need for manufacturing and service industries in like fields to get together
      1,001 words
    • Article
      DIVIDENDS ANNOUNCED
      411 13 Carreat Ex Book* Date Total for Total far Payment Date Close Payable the year Previous year A P 1 3%TE Jun 10 Jun 22 Jul 13 3%TE Aetna 15*(b) Jun 23 Jun 30 Jul 9 15*; 14.5*; (a) Ale*m 5% Jun 11 Jun 23 Jul 15 ioc; 12*;
      411 words
    • Article
      SCRIP ISSUES
      365 13 Company Particulars Ex Date Books Close AIMO Proposed rights issue of 2 for 1 (a, $1.70 per share NY A NYA API Rights issue of 1 for 1 (a. $1.00 per share Jun 25 Jul 7 Bedford Bonus issue of 2 for 1 Jul 8 Jul 20 Bourtcad
      365 words
    • Article
      Outlook for KL-Kepong HME and Tronoh
      1427 13  -  Market Talk... By WONG SOUK YEE UK BROKING firm Laarencr, Pros! has commented on the operating results of Harrisons Malaysian Estates (HME), KL-Kepong and Tronoh. Laurence, Prust said that though the pretax profit of HME is expected to be lower than last year, attributable
      1,427 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      1040 11 CREDIT SUISSE SWISS CREDIT BANK ta^iB& KREaTANsiAa BALANCE SHEET as of 31 December 1980 Profit and loss account 1980 Assets Due from banks sight time ot which with maturities up to 90 days Du« from banks, total Bills discounted and money market paper of which short-and medium-term federal securities. Loans
      1,040 words
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  • Article
    BUSINESS DONE ON THE SES AND THE KLSE
    1936 12 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. BBCTION ONE INDUSTRIAL COMMERCIAL Acma (4J08)(3)4.74 (6)4.76(2)
    1,936 words
  • Article
    Unit trusts
    195 12 SINGAPORE UNIT TRUST DIAMOND MGT 8 TORE (Nmien 1 prices tor Ju It) (Musfert' prices far Ju »> The Commerce 3 96 4 16xd Diamond S pore Fd uss100 The Savings Fund 2 28 2.40 S82.135 S pore Prog Fund 1.74 1.83 S pore Sec. Fund 2.68 2.80
    195 words
  • Article
    SHARE INFORMATION SERVICE
    2849 12 1981 Last Div Div Y'ld P/E Vol Day High Low Company Sale or- Cvr <•000) High Low SECTION ONE INDUSTRIAL COMMERCIAL 482 320 Acma 478cd 4 14.5 2.5 3.0 22.1 33 482 472 Alcom 300 10.0 2.0 35 25.0 334 130 Allied Choc 268 -1 4.0N 1.9
    2,849 words
  • Article
    In Kuala Lumpur
    2069 12 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. INDUSTRIALS AOH (4.808) xd UeM (3.825) (U) 3.71 (1) 3 76 (I)
    2,069 words
  • Article, Illustration
    Profit-taking ends earlier advances
    747 12 SELECTIVE biyiag la the owning mhlm kept the stock market la good health tat Mine profit-taking 1b the Ittenm rendered It to clone on a mixed note. The morning opened firm with baying Interest carried aver fram the prtrlwi day. Bat alter the first hour, maay
    747 words
  • Article
    Good support for KL stocks
    634 12 SHARE prices continued to display some good support to close slightly higher at the Kuala Lumpur stock market yesterday. A hefty gain in Rothmans coupled with moderate improvements in United Motor Works, Esso and Cold Storage pushed the New Straits limes Industrial Ordinary Index 10.96
    634 words
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  • Page 13 Advertisements
    • Advertisement
      Page 13 Advertisements Column 1
      115 13 TODAY SINGAPORE MAKES THENEWS. From now on The Asian Wall Street Journal is printed in Singapore. With this Singapore edition, the Singapore businessman can really stay ahead. Exclusive, instant coverage of both Asian and major international markets. In fact, due to modern satellite technology the Singapore edition releases the latest
      115 words
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      Page 13 Advertisements Column 2
      964 13 LIAN HUAT HANG FINANCE LIMITED (Incorporated in the Republic of Singapore) Balanc* ShMt At At 31st Dscwnbw, 1980 3.499,358 62.000 146.036 184.987 SHARE CAPITAL (NOTE 7) Authorised 10.000 Shares of $100/ each Issued Fuiy Paid. 6.450 Shares o< $100/ each STATUTORY RESERVE FUND (NOTE 8) CAPITAL RESERVE FUND (NOTE 9)
      964 words
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  • Article, Illustration
    Results of Hong Fok share applications
    348 14 INVESTORS who applied for 2,000 shares or more in Hong Fok Corporation can be assured of at least 1,000 shares. The only applications that were subjected to ballot were the 1,000-share applications. In this category, every 54 applicants out of 100 were successful and
    348 words
  • Article
    Lock icon Japan exceeds target in fiscal 1980
    481 14 Reuter JAPAN yesterday announced that its powerful economy expanded by a robust 5 per cent during the 1980-81 financial year while most other major industrial nations struggled through severe economic slumps. The real growth rate for the year, which ended in March, was above
    Reuter  -  481 words
  • Article
    Lock icon HK industrial land prices holding firm
    210 14 Reuter PRICES for industrial development areas in Hongkong are holding firm if the results of yesterday's auction of Crown Land in the British colony are anything to go by. A 1,695-square-metre site at Kowloon Bay Reclamation went to Unlimited Gain Ltd for HKJ3I million,
    Reuter  -  210 words
  • Article
    Scheme to keep married women in workforce
    560 14 MARRIED women can join the Civil Service as temporary part-time officers under a special scheme just implemented by the Public Service Commission and the Treasury. Those who have left the service can also re-join under the scheme, which is designed to attract and
    560 words
  • Article
    Loan for oil rig
    221 14 NORDIC Bank yesterday signed a US$2l.5 million syndicated loan to finance the construction of a jackup rig to be owned by Nordrill Ltd of Houston, Texas. A substantial portion of the loan amount will be provided at a fixed rate of interest under the Export Finance
    221 words
  • Article
    Lock icon Major nations fail to arrive at consensus
    305 14 Reuter THE WORLD'S major industrial democracies failed to resolve deep-seated differences on how to run their economies at an international conference which ended in Paris on Wednesday. Foreign and Finance Ministers of the 24-nation Organisation for Economic Cooperation and Development (OECD), which groups
    Reuter  -  305 words
  • Article
    Lock icon Exim rejects Soviets' low interest request
    230 14 AFP JAPAN'S Export-Import Bank (Exim) has rejected a Soviet request for low interest on its financing of Japanese exports of largediameter steel pipes for a Soviet natural gas pipeline. Industry sources said yesterday a new round of negotiations on the export credits might begin
    AFP  -  230 words
  • Article
    Lock icon BP plans to raise capital for new oil fields
    286 14 Reuter BRITISH Petroleum (BP), one of the world's leading oil companies, announced plans yesterday to raise £600 million for investment in the biggest exercise of its sort ever carried out in London. The company, which has embarked on a costly programme
    Reuter  -  286 words
  • Article
    LONDON STOCKS
    834 14 LONDON, Thurs. Share prices eased following news of a one-for-seven rights issue to raise £600 million from BP, dealers said. At 3pm, the Financial Times index was down 4.2 points at 540.6. Prices were marked lower immediately after the news and have since drifted down, they added. BP
    834 words
  • Article
    Lock icon DOW JONES HIGHER
    90 14 AP NEW YORK, Thurs. The stock market showed a slight gain this morning in the wake of yesterday's late rally. The Dow Jones average of X industrials rose 1.81 points to 1,008.37 in the first half hour. Gainers outnumbered losers by a 6-to-5 margin in the early
    AP  -  90 words
  • Page 14 Advertisements
    • Advertisement
      Page 14 Advertisements Column 1
      55 14 NOTICE We are pleased to announce the formation of Chi And Associates with effect from Ist July, 1981. The address will be: 5418, Golden Mile Shopping Centre 3rd Floor; Tel: *****27 Senior Staff: Dr. Tony Chi Nelson Chong Seng Cheong Richard Guy Powell Robert Paul Mittelsdorf Lee Wei Teck With
      55 words
    • Advertisement
      Page 14 Advertisements Column 2
      22 14 W^ V C 0^ VV v, rt^.V c J# vo SO° ..v* V \CC 6 v,e d»"° 4 'V i4> V 1«
      22 words
  • Page 14 Miscellaneous
    • Miscellaneous
      Page 14 Miscellaneous Column 1
      59 14 Outlook for Singapore from 6 a.m. to 1 p.m. today: Mainly fair. Report for 24 hours prior to 7.31 pm on June 18 at the airport. Maximum temperature 33.3 Associated humidity 60 Minimum temperature 24.0 Associated humidity 95 Hours of sunshine 9.05 Rainfall in millimetres Nil Total rainfall for the
      59 words
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  • SHIPPING TIMES
    • Article
      Snames elects new office bearers
      167 15 THE newly constitued Society of Naval Architects and Marine Engineers Singapore (Snames) has elected the office bearers for the 1981 82 session. The office bearers are: Mr Cheng Huang Leng, acting deputy principal of the Singapore Polytechnic, president; Mr Choo Chiau Beng, assistant general manager
      167 words
    • Article, Illustration
      NEW ACE VESSEL JOINTLY OWNED
      630 15  -  By JUNE LIM NEPTUNE Orient Lines (NOL) Limited has acquired a 25 per cent share in a Hongkong company, Diamond Concord Shipping Co Ltd, which will be the owners of a new container ship to to be placed in the Ace consortium. The other partners
      630 words
    • PORTSIDES
      • Article
        Lock icon BP to reduce tanker fleet
        95 15 Reuter BRITISH Petroleum Ltd (BP) said its shipping company is reducing its tanker fleet by a further six ships and its seagoing staff by around another 230 UK officers, 370 UK ratings and a comparable number of Indian crew. The cut is the second this
        Reuter  -  95 words
      • Article
        Setting up a shipping line
        64 15 ZIMBABWE and Mozambique are considering setting up their own shipping line. Zimbabwe Transport Minister, Mr Josiah Chinamano had discussions with the Mozambique Ports and Transport Minister, Mr Alcantara Santos and they agreed to explore the possibilty further. Mr Chinamano urged Zimbabwean businessmen to send more
        64 words
      • Article
        Lock icon Three bodies recovered
        108 15 euter AUTHORITIES have recovered the bodies of two Burmese sailors of the Singapore-registered tanker Sascha which caught fire and sank last weekend off south Kalimantan (Borneo), a spokesman for the state-oil company Pertamina said. The spokesman said that their remains had been cremated. A third victim, a
        euter  -  108 words
    • Article
      INDEX TO ADVERTISERS
      751 15 Shlpptag Llae (M Achlpelego vn 4 Adriatic VI 5 AIM VI 3 Afro-Eurasia VI 2 A1 Navigation VI 2 All trans VI S Alpac VI 5 Angkutan VI 4 Angonave vm 2 ANL I 1 Antoll vm 1 APt m 4/5 Argentine IV 4 ASCL m 1
      751 words
    • Article
      ACL's direct service to UK
      364 16 ATLANTIC Container Line (ACL), the largest container and roll-on roll-off operator in the North Atlantic, has moved swiftly to plug the gap left by Dart Containerline's switch from Southampton to Felixstowe. ACL has announced that as the only North Atlantic container line still calling at
      364 words
    • Article
      Container Schedules
      848 16 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO AT CONTAINER TERMINAL Vessel's Voy Estimated Shipping Gdn Mode of Name No. Time of Lines Operatn Arrival Date Time Kowloon Bay 48/550 19.6.81 1630 Mansfield TA 4 vc P. Madison 76/1 19.6.81 0700 APL TA 6 TT Ming Ocean 5E
      848 words
    • Article
      LONDON FREIGHTS
      1666 16 NORTH AMERICAN grain chartering was on a small scale on Wednesday with rates little changed. Business from the US Gulf to two ports South Korea paid U5539.75 fio while Sl6O was agreed from the Gulf to Matadi. Elsewhere, barley from La Palisse to Jeddah paid $40.50 and maize
      1,666 words
    • Article
      SHIPS IN PORT
      570 17 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bougainville (0700 after Deyin) 45 Bum Chin (Tanker) (after Kota Buana, P O. subject gas free) 13 14 Barber Tennessee (1800 after B Tons berg) 47 Ben jamas (2100 after Carliner No 1) 46 Car Liner No 1 (ro ro) (0700) 46
      570 words
    • Article, Illustration
      NEW PHILSECO REPAIR YARD
      106 17 THIS is the Philseco ShiprepahYard facility being constructed by the Construction Group (CG) of the Atlantic, Gulf and Pacific Co of Manila, Inc (AG4P). In the foreground is the drydock designed to accommodate a 351,- Mtdwt ship. On its rear are the repairshop, which will have
      106 words
    • Article
      Lock icon Largest freight shipment from China to Oklahoma
      513 17 UPI THE largest freight shipment to come from China began moving into Oklahoma City this week as a result of a partnership between the communist nation and a Oklahoma company. The shipment, equal to a eight km freight train, consists of oil field
      UPI  -  513 words
    • Article
      Lock icon South African port criticised
      162 17 AFP THE Japanese Nissho-Iwai Maritime Company criticised the South African port administration before the Supreme Court in Cape Town over an incident involving the sinking of two 40,000-ton oil tankers in 1977. The firm also attacked the Yorigami Maritime Construction Company of Japan and the Safmarine
      AFP  -  162 words
    • Article
      Lock icon Unctad resolution on shipping
      865 17 Lloyd's List THE following is the full text of the resolution approved by 49-18 at the special session of the United Nations Conference on Trade and Development (Unctad) shipping committee in Geneva recently. It was proposed by Sri Lanka on behalf of the Group of 77
      Lloyd's List  -  865 words
    • Article
      SHIPPING LIST where your ships are due...and when
      895 21 SCHEDULE The list below tabulates, by port of destination, the name of the ship, the shipping line involved and the estimated dates of arrival and departure from the Port of Singapore. Advance dates are published at a maximum of three weeks. PN
      895 words
    • Article
      ORIENT EXCHANGE
      585 22 VESSELS open: 25,000 dwt on 9.9 m built 1981 grain bale 1,165.554 1,141.894 cu ft 59 Ho Ha 4X30 tonnes derricks containers 456 TEU (in holds) plus 298 TEU (on deck hatches) total 754 teus 20' speed 14 knots on 30 tonnes 1500 sec 2 mdo vessel open
      585 words
  • Page 15 Advertisements
    • Advertisement
      Page 15 Advertisements Column 1
      309 15 Scan Dutch 9 Fast and Regular Service To/From N.C./SCAN/W.MED./U.K. Singapore Tel *****89 Port Kelang Tel *****1 Kuala Lumpur Tel ***** Penang Tel 364)76 IARDIM LUj I Orient Overseas Ca*duMeA Line FULLY CONTAVCRISED SERVICE TO EUROPE (VIA SUEZ) FCI 19/6 1400 HRS Catling Bremerhanen after Hamburg 'Closing Times (Spore) [j/g hrs
      309 words
    • Advertisement
      Page 15 Advertisements Column 2
      281 15 SSEALORDU m UASC UNITED ARAB SHIPPING CO (SAG) r EXPRESS MULTI-PURPOSE SERVICES Mina Qaboos (18/7) SERVICE Loading for Loading for 29/6 Dubai (8/7), Kuwait (9/7). Dammam (13/7), Abu Dhabi (15/7). Doha (17/7), Bahrain (19/7) 11/7 Dubai (20/7), Kuwait (22/7), Dammam (26/7) Abu Dhabi (28/7), Doha (30/7), Bahrain (1/8) 28/7 Dubai
      281 words
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      Page 15 Advertisements Column 3
      1 15 MSB
      1 words
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      Page 15 Advertisements Column 4
      646 15 Nedlloyd Lines Regular Liner Services To From All Parts of the World. Singapore Tel *****89 Port Kelang Tel *****1 Kuola Lumpur Tel ***** Penong Tel *****6 MAERSK LINE EXPORT FULL CONTAINER SERVICES TO: U.S. PACIFIC. GULF, ATLANTIC, EAST CANADA, ASIAN PORTS Singapore ewYorfc Philadelphia I IAI B ALVA MAERSK ARID
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      781 16 mibcM MALAYSIAN INTERNATIONAL SHIPPING CORPN. BERN AD. WISMA MISC, N0.2, JALAN CONLAY, P.O. BOX 371, KUALA LUMPUR 04-09, MALAYSIA. TEL: *****8 TELEX: MA *****, *****, ***** ***** CONTAINER SERVICE Contain* Smite To Eigope feeder *P Kelang Vessel S pore 1) Mseilles 2) Rdam 3) Hburg 4) Gburg B PENAGA In
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      Page 16 Advertisements Column 2
      238 16 Are you making full use of the Shipping Times as an effective selling medium? For further enquiries call: Shipping Times Tel: *****44, Extension 351 or 367 Tel: *****2 Ext. 38 or 39 Times Centre Financial Publications Sdn Bhd I, New Industrial Road Singapore 1953. 31, Jalan Riong, KL 22-03 SUPERCARRIER
      238 words
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      780 17 Overseas 111 Containers Limited mr^m STRAITS SHIPPING Singapore to Sabah, Sarawak, Brunei Ports and Bangkok Houusnn kgasusprk straits wk »n hkm ui RAMHMNXKE V.15 J,™ fOUS U) BmM* s*. 10-19kB »Ja »J* Slum Sl* I* lab.U. SU.IO l7»ka 21 kB "Ja TOUOK V.12 10-21 2j" uaan v.i 7 "m>» i«k
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      Page 17 Advertisements Column 2
      453 17 A Franco Belgian Services r E* Fast Frr.ich sernce uxlh H.lgxarx bar F.<isf.rr. I.\nrQ o< aCE COnSOSTi^m FULL CONTABOSW sawct TO EUBOK FULL COKIMHUSHP SIRWCE FROM EURO* SMCVOK f. KELANG Le Hane R'dam HWg BHanen oerp OBSNTAL CHEF 70 Mk 21 Mw )Mr 10 My 14 My IS My 17
      453 words
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      832 18 ML Hapag-Lloyd TO NORTH EUROfE Aj'-o accepting trjnsl»pmenl cargo toi CARIBBfAN WEST iNtHtS ma Hamburg TO MEDITERRA*A 1 1 Merkterranei Mori fSanc Maru TV* HK 15 6 17 6 25 6 27/6 2'7 4/7 TO NORTH f UROPEMEDIT ERR ANE A Riedeistein Mai Rickmers UtoseMem TO USA/CANADA Feeder S pore
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      Page 18 Advertisements Column 2
      516 18 KOREA SH S P Kelang PENANG VEGA 161W 29 June/1 July 2-5 July VEGA 162E 29 June/1 My 2-5 Jiiy SPORE 7-9 July FROM BUSAN BANGKOK TO BUSAN ALTAR 165W 10-13 July 14-17 July 18-22 July FROM BUSAN BANGKOK ALTAIR 166E 10-13 July 14-17 July 18-22 July TO BUSAN use
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      Page 18 Advertisements Column 3
      609 18 EVERGREEN LINE r FAR EAST/EUROPE EXPRESS FULL CONTAINER SERVICE ALSO ACCEPTING CARGO FOR: UNITED KINGDOM SOUTHAMPTON. LONDON, MANCHESTER. BIRMINGHAM, BRISTOL. LIVERPOOL, GLASGOW. LEEDS ETC WEST GERMANY BREMERHAVEN, OSLO. STOCKHOLM. GOTHENBURG, AARHUS, COPENHAGEN HOLLAND AMSTERDAM Spat MM Hamburg Frtntow. Ilotlwdjm Antwerp U Hint t»tr L»|( 27/5 5/7 15/7 22/7 24/7 »/7
      609 words
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      Page 18 Advertisements Column 4
      850 18 Everett Lines! Burma Five Star Shipping Corpn. BURMESE NATIONAL LINE' LOADING FOR RANGOON load** to Rotterdam Antwerp F Spot f«M«e WSSWT" »/27 km tvn li/M m PHUMWGYAWYIM 29/10 lid M M 1/3 M BFS S C Agents m Malaysia BOUSTEAD SHIPPING TEL NOS KL *****2/*****9 _Wjj> Compania Arpntini Da oIpTU
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      Page 18 Advertisements Column 5
      376 18 OCEAN SHIPPING ENTERPRISES PTE LTD. 31 SANKYO LINE JAPAN/STRAITS SERVICE GDOUI MOTS OCEAN I OnOWJSS PTE LTD SBKAPOKE m 22*1144/7 1 *****70 K LURTUR TEL *****4 444'51 AGENTS M MALAYSIA P. KUANS EAST ASA SWTMS TU 3* 0/12/3/7251 re NAME MALAYSIA TRADE I TRANSPORT TU 471)3 (3725 SUN UNION LINE
      376 words
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      934 19 PIL GROUP FULL CONTAINER SERVICE TO COLOMBO, HODEIDAH. JEDDAH AQABA (Reefer Cntrs Acceptable) j, S PORE COLOMBO HODEIDAH JEDDAH I AQABA COLOMBO S PORE VESSEL VOY. I S PORE *KOTA SAHABAT 7W/8E 19-20/6 24-25/6 KOTA SAHABAT 9W/10E 23-24/7 29-30/7 KOTA SAHABAT 11W/12E 26-27/8 1-2/9 4-5/7 8-8/8 11-11/9 7-7/7 10-10/8 13-13/9
      934 words
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      Page 19 Advertisements Column 2
      1012 19 BENLINE CONTAINERS EXPRESS CONTAINER SERVICE TO/FROM EUROPE F'ng Him Glory »ce In Port Hongtong Eipress 20/7 Cherry BunjJ 23/6 Hongfccng Eißresi 20/7 Ben.all 21/6 Mambu| Ei»ress 27/7 FROM EUROPE M BURG B tMVEtt R DAM HAVRt N wmjni AuMr.a Benelur France Hambw| Eipress Saied Sated Sl4ro Saded 10*10 Eiprest Saded
      1,012 words
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      Page 19 Advertisements Column 3
      733 19 Scan Dutch 9 WEEKLY EXPRESS CONTAINER SERVICE TO MED/UK/NC/SCAN 6 MNAGA I" Port 6 OAMIA H> 4 B PfNA&A 3 7 6 DMH 10 I unao i 7/7 R OMtM 7 B PtNA&A 317 B DM* 7/1 B CMMI* 14 a HMseAes/lßdaa 3>Ht»rg4lGtaifg Accctttanc tor U Bacetona Genoa leghorn 2)
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      Page 19 Advertisements Column 4
      593 19 BOUSTEAD SHIPPING AGENCIES BANK LINE FOR REUNION S. AFRICA A VESSEL Also occepting FCL containers Spore: July (loading direct for Reunion, Durban and Capetown only) Lukes/' 0 Lines U.S. WEST COAST SERVICF Drat horn SfO Ibck .PORf Bl IESLf IYKES 13/6 9/6 17/7 19/7 ASHLEY IYKES 11/7 14/7 Z5/« 27/8
      593 words
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      688 20 a K line KAWASAKI KISEN KAISHA. LTD EXPRESS CONTAINER SERVICES TO NORTH AMERICA ETC ram ureas* n sr mono vessels n use Pterd by V-7 25/6 27/6 Quran Nay Bntff* 24/6 77/7 A Ptfnus ¥119 30 i 1/7 Prafc Arrwt 21/7 2/1 Aral Maru 22/7 Kurotx Hani 27/7 fmti Ac*
      688 words
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      Page 20 Advertisements Column 2
      522 20 CALIFORNIA/PACIFIC NORTH WEST SERVICE EXPRESS CONTAINER/REEFER SERVICE lu** M LOS MCD.ES. SAM FtMKBCO St*mi. TACOMA VUKCXMI BC *cc«p«m fa fa MM P Ketant j.njipoif I Anftm WWAPMAS" HIM Ik* 27 Mr AUSTRALIA EXPRESS CONTAINER SERVICE Accept* fa/Fa CalMn NEW ZEALAND SERVICE to MOM. imUTMI RUKiai UCtIMB fa/fa fi*»i Penam P
      522 words
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      Page 20 Advertisements Column 3
      743 20 S S Atiroui) SINGAPORE SHIPPING AGENCIES PTE LTD 20TH FLOOR OCEAN BUILDING SINGAPORE 0104 MARKETING *****2 (3 LINES) GENERAL *****1 114 LINESI TERMINAL OFFICE *****83 TELEX RS ***** RS 2SS6B A/B CARSHIP CABLE CARGOSHIP HJJL3IPJ I jintamcr Ijiics WEEKLY CONTAINER SERVICE to/from BANGKOK BANGKOK n n km 27/21 kr 2/3
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      Page 20 Advertisements Column 4
      714 20 korins maritime services k Room 601, ICB Building, Shenton Way. Singapore Tel *****22 *****67 P Kelang Tel *****4/*****5 MIDDLE EAST/RED SEA/EUROPE SERVICES S PORE P. KELANG LOADING FOR: V A... it) Jul Jeddah/P Sudan J £SSEL 12 Jul Iran Ports A VESSEL 13 Jul Tripoli/Alexandria/ P.Said Hyundae Shipping Co. Ild.
      714 words
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      Page 20 Advertisements Column 5
      702 20 INTRASEA (PTE) LTD. Faber House. 234E Orchard Road Singapore 9 Telephone *****1 1tt*****7 ,t)T f T* W i BREAKBULK SERVICE TO EUROPE/UK FULL CONTAINER WEST BOUND SERVICE DART ATLANTICA WBIM DART AMERICANA WBIIO Srjapore Loadnf for: 21 Jun Jeddah/Mseiej/Hamburt' Rotterdam/Tibury 11 Jul -doI FULL CONTAINER EAST BOUND SERVICE ETD KARACHI
      702 words
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      593 21 TO EUROPE/UK (VIA SUEZ): Also accepting cargo to/from Scandinavia 0 CHIEF S pore Closing Times: FCL Cargo LCI Cargo 1400 19/6 0200 19/6 FROM EUROPE (VIA SUEZ) TO AND FROM AUSTRALIA: JAKARTA..... SINGAPORE. PENAN6...... BRISBANE.... SYDNEY MELBOURNE. BORNE ADELAIDE FREMANTLE. Also accepting cargo to/from Bangkok and E. Malaysia A. Temasek
      593 words
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      Page 21 Advertisements Column 2
      381 21 MALDIVE LINES ETA ETA KUANTAN PORT KELANG NAZAKAT Loading For Dubai only MALDIVE SEAFARER Loading for Kuwait MALDIVE PLEDGE Loading for Hodetdah MALDIVE NATION Loading For Kuwait MALDIVE TOPAZ Loading For Male MALDIVE PRIZE Loading For Kuwait MALDIVE PIONEER Loading For Jeddah FOR BOOKMGS I ENQURES PLEASE CONTACT: SW6APORE PORT
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      Page 21 Advertisements Column 3
      753 21 m sinsov SINGAPORE SOVIET SHIPPING CO PRIVATE LTD SINSOV BUILDMG 55, Market Street Singapore 0104 Telephone Numbers *****3 (10 Lines) Cable Address SMSOV SINGAPORE Telex Numbers RS ***** RS ***** RS ***** f. KELANG M/S SHAWMT WAH SOON SON. BHD IST AND 2NO FLOOR. NO 1 JALAN CEMPtNING. PORT KLANG.
      753 words
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      Page 21 Advertisements Column 4
      90 21 NOTICE Dng BCE LINE M.Y. kAENABY VOY.H arrive* IS.IJI At PSA (Mm General Survey on damaged cargo discharged ex the above vessel will be held oil Wednesday 24th June 1981 as from 9.00 am to 12.00 noon No further survey will be held after this date WORLD-WIDE PACIFIC MARITIME (PTE)
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      Page 22 Advertisements Column 1
      736 22 PROSPERITY SHIPPING (PTE) LTD. JOO WAH' 'JOO YAU" ETA STORE 30 June 15 July LOADING FOR Red Sea Suez/Alexandria/ Pt Said Phnom Penh M.V. "JOO HENG" 28 June Phnom Penh MI "JOO HONG" (Palm 01 Carrier) In Port West/East Malaysia, For Booking Please Contact: Singapore NGOH HONG HANG (PTE) LTD
      736 words
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      Page 22 Advertisements Column 2
      576 22 GBN CONTAINER LINE FRATA SHIPPING PTE LTD Tel: *****04 18, P.T. "TRIKORA LLOYD" Loadmg toi Antwerp Holand Bremen Haffltwg MV. BUTAR 23 UNIQUE SHIPPING TRADING CO., (PTE) LTD SO A. Boat Quay Smgapore 0104 T* *****3 (10 Laws) ANGONAVE STATE SHIPPING LINE OF ANGOLA SPORE PKL Loading FOR CAROLINA A
      576 words
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      Page 22 Advertisements Column 3
      363 22 ft JOHORE SHIPPING L<f— 161 )AL AN TENGI SEIAN( TfNGKU BAOAR PO«T KEIANG SELANGOR MAI AYSIA HAJ SHIPPING SDN. BERHAD Eipress Umtload Service from P Reiang East Malaysia Brunei HAYATI V: 9/81 HAYATI V: 10/81 HAYATI V: 11/81 HAMDAH I 11/81 HAMDAH V: 12/81 HAMDAH V: 13/81 P KELANG 23/6
      363 words
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      Page 22 Advertisements Column 4
      435 22 Kline KINKAII KAWASAKI KINKAI RISEN KAISHA, LTD. JAPAN/STRAITS/JAPAN Fullv Containerised Service Vessel Tokyo Hot* S pore Penang P Kelang S pore Tokyo Robe NORDMTV7 SM SU 20/6 21/6 23/6 25/6 7/7 1/7 NORDSTUVS 21/6 30/6 11/7 13/7 15/7 17/7 29/7 30/7 MOMMY VS 1/7 10/7 22/7 24/7 25/7 27/7 7/1
      435 words
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      Page 22 Advertisements Column 5
      331 22 B WOOD LINE Bulk Timber and Plywood Service UK/CONTINENT SERVICE aintpff mom Sparc PKtUnj T|JM Loadnf for 25/6 10/7 30/ C NANTES 'ROM/ UK/ESBI 20/7 30/7 25/7 NANTES/RDM/ UK SOUTH AFRICA SERVICE Ludn( far: Reunion/Durbjn/ Capetown Retnon Durban Capetown General Agents:Wood Line (S) Pte. Ltd. Tel: *****11/*****93/*****39 AgentsK. Lumpur: SEGANI
      331 words
  • Page 22 Miscellaneous
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      Page 22 Miscellaneous Column 1
      180 22 Regional Weather r A 3 9a r A. 2* ft 51 k n *s t M ££3 53 i m u L" i Si S5 °C ~Y Win. Wind direction with speed in knots Wave height SIGNIFICANT WEATHER AND SEA CONDITIONS AT 7.30 A.M. THIS MORNING. LEGEND: R Thunderstorm Temperature
      180 words