The Business Times, 8 August 1981

Total Pages: 18
1 18 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 107/1/81 SATURDAY, AUGUST 8,1»1 60 CENTS
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  • 252 1 THE STOCK market looked good yesterday. Prices 1 were higher almost across- the-board and the 30-stock 1 Straits Times Industrial 1 Index gained 14.07 points to 803.25. 1 But judging by the expressions of those market watchers who make their way to the
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  • 42 1 ALBERT Choo, secretary of the Singapore Cement Manufacturers' Association, has pointed out that he was only speaking for his company when he denied allegations that local manufacturers are dumping cement in Malaysia. Mr Choo is assistant general manager of Singapore Cement.
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  • 347 1 TWENTY-SEVEN airlines, including Singapore Airlines, have agreed to fix the return fares from Kuala Lumpur to major European destinations. But four others, Soviet Airlines Aeroflot, Bangladesh Biman, Indonesian Airways and Pakistan Airlines, have indicated they will continue to offer passengers lower prices. These four
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  • 216 1 A SYNDICATED loan worth US$lB million has been put together in Singapore for Thai Airways International to finance the purchase of two airbuses. 1 The eight-year loan sign- Ed yesterday was led by three banks. They are UKbased Midland Bank and two Singapore banks Credit
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  • 417 1  -  By WONG AI KWEI THERE will be a glut of hotel rooms by the late 1980s if developers continue the pace at which they are building them. This situation will arise as there is no guarantee that tourist arrivals will increase as projected, said Mr SC
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  • 151 1 THE chalraiaa ik ehW execatlve d the Shell Companies in Slagapere, Dr Richard Ha Til T»« (»b*ve), luu been sppatatod a director of the Gevecameat at Tlagspaw laveatmeat Corporation (GBK) V Dt Ht to the mW aĕngoverameat Baa to be appalated to
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  • 355 1 THE importance of the European Economic Community as a source of foreign investment for Asean countries will decline, to be replaced by Japanese investments instead. Already, the growing pace of Japanese as opposed to European investments in the five countries is apparent. This is because the
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  • 161 1 PEOPLE in the west may by now have realised that the confrontational techniques of management-la-bour relations spawned by Marxism-Leninism were meant to destroy their societies. To avoid going the way of some of the western societies, all Singaporeans, employers and workers must team up to work hard for
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  • BRIEFLY...
    • 89 1 AFP HONGKONG, Fri. American Senator Samuel Hayakawa today refuted published reports that the US is luring Indochinese refugees. "We certainly are not luring 4 refugees to the United States although there is no question that the freedom and the high standard of living in the US does lure
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    • 56 1 AP HONGKONG, Fri. US Senator Samuel Hayakawa said today he considers Taiwan to be a more valuable ally economically to the United States than China. However, he said his country will try to maintain good relations with both countries. But he said this will be difficult because of
      AP  -  56 words
    • 69 1 THE Commonwealth Trading Bank of Australia will open a representative office in Singapore towards the end of this year to service the Asean region. The office will be headed by Mr Bob Storr, who has spent about 30 years in South-east Asia since joining the bank in 1939.
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    • 55 1 Reuter LONDON, Fri. A leading Iranian clergyman has threatened reprisals against France similar to those taken against the US unless it hands over former president Abolhassan Bani-Sadr and Left-wing guerilla leader Masud Rajavi. Ayatollah Meshkini, leader of Friday prayers in the holy city of Qom, issued the warning
      Reuter  -  55 words
    • 61 1 UPI SYDNEY, Fri. Four hundred technicians postponed a threatened work stoppage and agreed to arbitration today, averting a blackout of overseas satellite communications. 4 The technicians, employed by the government-run Overseas Telecommunications Commission, also lifted a 10-day slowdown which was begun to back their demands for an 8
      UPI  -  61 words
    • 71 1 Reuter KUALA LUMPUR, Fri. Malaysia will again voice its concern over China's continuing support for communist insurgents in talks during Chinese Prime Minister Zhao Ziyang's visit which starts on Sunday. Mr Zhao, who arrives from the Philippines on the second leg of a week-long South-east Asian tour, will
      Reuter  -  71 words
    • 69 1 UPI WASHINGTON, Fri. The 128-year-old Washington Star, one of America's premier daily afternoon newspapers, went to press with its final editions today, bidding farewell to readers. The paper, a victim of long-run-ning financial problems, bannered the words "final edition" in bold across the top of the newspaper.
      UPI  -  69 words
  • 146 1 A DELEGATION from Sri T-nnir» arrives here tomorrow to induce local companies to invest in the South Asian island. The Jayewardene government is now making a concerted worldwide effort to promote the country as a good place to invest. From Oct 19-29, Colombo will
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  • 205 1 MANY companies in Singapore are still unaware of the various courses offered by the Government's vocational training institutes. Mr Andrew Chapman, a board member of the Vocational and Industrial Training Board (VITB), said many companies still fail to recognise the importance of proper training.
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  • Page 1 Advertisements
    • 246 1 )]</_'+{-?,?<+..[.<.).),*-^?{,[ WW m PARAMOUNT Corporation has given a breakdown of the profit forecast for four of its five recent acquisitions Page 8 THE Kuala Lumpur Stock Exchange has queried Promet Berhad on a recent report which said that the company has procured orders worth half a billion dollars.. Page 8
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    • 195 1 Swing With A Perfect The form and function of many things are often rated on a scale of 1 to 10. 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 created expressly to commemorate
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    • 176 1 Leader...page 4 Guide to MUSICAL Appreciation L* CO- MS M Ul SJr <5; ORCHESTRA Andre Previa sets out in this book to reveal the players on the platform, those anonymous men and women whose dedication and talent alone make the performance of great orchestra music possible. Retail Price $55.65 THE
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    • 105 1 :"}^<>?=}|.<+),!%["(,-~&["(!@[- i A?-. OTC s V 5 THIS to an era of transition for Singapore. Ilw new leaden who are emerging both ia the private and pablie sectors have brought fresh approaches to Issaes that have profoaad Implications for the economy and society. Who are these leaders and what are
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  • RAW MATERIALS
    • 318 2 Reuter PENINSULAR Malaysia processed palm oil exports rose to 178,392 tonnes in April from 171,130 in March and 151,112 tonnes in April 1980, the Statistics Department said. Crude palm oil exports rose sharply to 4,400 tonnes in April from 2,559 in March but
      Reuter  -  318 words
    • 65 2 THE STRAITS tin price in Penang yesterday recovered six cents te M 533.4€ ft kilo, still within the ITA ceiling range of $32.74 te $35.47, dealers said. The recovery was attributed to higher overnight London advices, farther support from Influential dealers, Japan and locally and reduced offerings. Total
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    • 122 2 THE Singapore rubber market yesterday closed easier with August One RSS buyers quoted at 218.50 cents per kilo, down 2.50 cents compared with Thursday's close. In Kula Lam par, the market closed slightly lower at 253.50 cents per kilo for September One RSS buyers, down a cent from Thursday's
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    • 34 2 Rubber: Aug 7 Singapore: Aug: 218.50 cents (down 2.50 cents) Malaysia: Sept: 253.50 cents (down 1.00 cent) Tin: M $33.46 per kilo (up 6 cents) Official offering: 205 tonnes (down 16 tonnes)
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    • 360 2 RAS prices In cents per kilo yesterday: Noon (per kilo) Buyers Sellers tat 1 R.S.S. prompt f.o.b. 213 00 214 OON tat. 1 R.S.S. August 219.00 220 00 tat. 1 R.S.S. September 232 50 233.50 tat. 2 R.S.S. 204.50 205 50N UK Coot 203.50 2M.50N tat 3 R.S
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    • 127 2 NOON SSR and SMR pne aa yaatarday RA8 Aifwl Sayuakar iCamal Mill (Forward Htkl Ruvera S«ll«ra Buvrra S< lUara 204 OON SSR 20 SSR SO <1 too pa <l fc°« p« iWtl ***** 202 OON 202.00 lla<> 197.50 199 SON 199 SO 201 SON MRELB SafUabar Oelakar
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    • 436 2 COFFEE: Robusta coffee futures yesterday continued quietly steady with mixed jobber and switching activity, traders said. Midday prices were £25 firmer to around £3 off in a relatively slow 1,647 lots including 30 options and 18T cross trades. Traders said the market was quiet ahead of the weekend
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    • 173 2 WHEAT futures in Chicago on Thursday closed at or near the top of a narrow 3': US cent range, up two to 4 S cents a bushel in revived trade. Steady local short-cover-ing on trade sentiment that Wednesday's decline was overdone pushed prices to the plus side from the
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    • 192 2 SOYBEAN futures In Chicago on Thursday closed 2 S to 11 US cents a bushel higher with the spot and two most deferred contracts gaining on middle months. Late local short-covering in response to a general lade of selling interest edged prices back up to day's highs, dealers said.
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    • 66 2 C.I.F. North European ports, in US dollars per ton unless otherwise stated: Previous LONDON Thara Malaysian 5% ffa bulk per tonne 547.S0alr September 550.00slr Sumatra 5 r c ffa bulk 560 OOsIr August September 5€0.00>lr 555.00alr 550.00qtd October 545.00slr 545qtd/540pd November 540.00qtd 540 OOqtd Nigeria ffa bulk stg
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    • 175 2 CHINESE Prsiaee Exchange, Singapore, clastag prices per lllkg yesterday. CMMit «41: Bulk fob $122.50 sellers, old drum (in second hand drum) fob $136.50 sellers, new drum fob $141.50 sellers. Cepra: Mixed (loose) $72.75 buyers. Pepper: Muntok white pepper fob Asta NLW $377.50 sellers, Sarawak white pepper faq fob
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    • 194 2 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) Cettee yara: China Blue Phoenix 20b 2,330; 32s 2,806, 40s 2,990 (per bale at 400 lbs). Pleee gee*: China Butterfly and Globe brand unq; Dragon Head unq; Five Lamb 6 unq; Flower and
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    • 326 2 SINGAPORE: Yesterday's closing prices in SS per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.36, 100 per cent second class 1.14, 100 per cent third class 1.10, 25 per cent new crop no stock. B-10 per cent no stock. THAI BROKEN. A-super 0.78, Special
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    • Article, Illustration
      417 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Centaur (Passenger) (1400 after Athol) 1/2 Equator (after Builder) 22 Han Kook (after Tong Bai Shan hauls, after Golden Eagle, subject freeboard) 23 Iweri (0700) 20 East Niaga XXI (after Yue Man) 28 < Seng Hong (0700 27 Thomaseverett (0600) 44 Tong
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  • Page 2 Advertisements
    • 539 2 NEW BUSINESS OPPORTUNITIES IN THE EIGHTIES ASEAN The Association of South East Asian Nations (ASEAN) has come a long way since its formation in 1967. Created to harness the vast potential of its five developing member nations, ASEAN is now transformed from a loose grouping of third world countries into
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  • OVERSEAS
    • 325 3 AP THE TOP fifty leading American exporters, led by Boeing, amassed total sales of U5557.3 billion in 1980, more than one-quarter of all American exports. Reporting this in its forthcoming edition, Fortune magazine said exports are becoming increasingly important to the US economy precisely
      AP  -  325 words
    • 400 3 Reuter FORMER Thai Prime Minister Kriangsak Chomanan faces the first major test of his attempted political comeback in a by-elec-tion tomorrow in remote north-east Thailand. The constituency at Roiet, a distant outpost for most Bangkok politicians, has become the focus of attention and could hold
      Reuter  -  400 words
    • 209 3 NYT WEST German government officials and business leaders underscored their resolve to continue expanding trade with Eastern Europe. They have voiced such sentiment both privately and in public statements, despite the misgivings voiced by President Reagan at the Ottawa economic summit meeting and reiterated
      NYT  -  209 words
    • 211 3 AP JAPAN'S oil industry, stunned by inflated crude oil prices and the shrinking value of the yen against the dollar, is tottering toward its worst financial losses in history this year. Experts predict that the top companies in the industry, which like their counterparts
      AP  -  211 words
    • 130 3 AP ANTHONY Antoniades of Brighton, England, gave his 150 employees a present on Thursday as a token of his appreciation of their work. He cracked a £45 bottle of champagne over the bow of a £60,000 luxury yacht at its launching and made its title over
      AP  -  130 words
    • WORLD IN BRIEF
      • 398 3 Agencies PRESIDENT Reagan has rejected a plea by Egyptian President Anwar Sadat to recognise the Palestine Liberation Organisation (PLO) in an attempt to achieve peace in the Middle East. But in their first meeting in two days of talks in Washington, they renewed their countries'
        Agencies  -  398 words
    • 686 3 NYT THE US Federal Reserve Board (Fed) would have to ease up on monetary restraint to avoid a severe recession, Treasury Secretary Donald Regan said in an interview. He expressed concern that the continued slow and below-target growth of M-18, a key measure of the nation's
      NYT  -  686 words
    • 237 3 Reuter THE REAGAN Administration is preparing a new plan to keep airports working after firing thousands of striking air controllers. Transportation Secretary Drew Lewis said a plan to keep planes flying for the next 30 days would be announced soon. Some details of the
      Reuter  -  237 words
  • Page 3 Advertisements
    • 53 3 The daMy Aircraft Schedule hat Dma Iwld ow. Flight information by telephone can be obtained from the airport (*****34/*****88) or from the reepective eMinee: *****44, BA *****55, KLM *****42/*****44, JAL ®422 OTA don on other* can be obteinod from the elrHnee or it Tei. *****34/*****88. Diel *****22 for Automatic Recorded
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    • 270 3 Ford Granada.You'l I need to discuss driving at ten paces P. >4 ■t> '< f# L ~5 t -<#*' .< <?'*'. fi y? <T. ■i !v V v J r> 'r > L V This is one issue you won't want to take a back-seat in. Because driving a Ford
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  • 353 4 EQUATING supply with demand is an elusive task. There are so many factors affecting either side of the coin that one can never really be sure that there will always be enough supply to meet demand or vice versa. For example, it is almost impossible to
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  • 307 4 »XT IS a fallacy to assume that If businessmen and industrialists do not have at their fingertips relevant knowledge and information, they at least know where to find them. In fact, the level of ignorance of some industrialists in the manu- factoring sector is appalling.
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  • 971 4  -  G A POLBBOY «err: (The following letter was seat to Dr Wong Kwei Cheong, chairman of the National Productivity Board, on July 10. Since the report in Business Times on its contents has sparked off a number of comments, we reproduce the whole of the letter.) Year
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  • 237 4  -  MAH BOW TAN Geaeral maaager, SBB Sagapere WZ Dear (Br I refer to aa article headline! SDF ketHag up tnlaiag peMtahed ea page eae ef Bmttmem Ihm last Satarday. The article qaotod Mr O Pearrey, executive director ef OeaMas Cwnptwt», as saylag that has services provide
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  • 1281 4  -  KAREN ARENSON continues with her series on the impact of new US tax law. KAREN ARENSON NYT OF ALL the tax cuts provided in the new tax law, among the most generous are the rules governing estates and gifts, which will save Americans millions
    NYT  -  1,281 words
  • 620 4  -  r Letters to the Editor d EXTREMELY WORRIED DearStr I would be grateful if you would kindly publish the following letter in your esteemed paper, as I have had countless sleepless nights on account of the CPF Housing Scheme. The use of CPF in private housing
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  • Page 4 Miscellaneous
    • 625 4 i -11-OIE CROSSWOBD CRYPTIC PUZZLE ACROSS 4 A handy gesture to return <«) 7 Battle colours (3-5) 8 He's very experienced, my dew fellow (J, 3) 10 Lethal to a podgy person (5) 13 Old, perhaps, but fast as a bound! (4) 14 It catches (4) 15 Sugary Beethoven piece
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    • 10 4 iTbDfc\| ©RITISH M\ sP££D POST OPFicc Pfe O^LS/ e>tus p*no
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    • 432 4 iIWRP Love for half a sixpence POB Betu*ay relax wttfc a wm ■fleraeea, I«d« Bey ud i py iMifl skaters, J« J* SUrfceek I aUpmon. Km Bbelley. as* Jala TWe Is iwttw eft mala stars ef at Mips. mtm Maek gnap sf I en, perfsf a "live" eert at the
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    • 168 4 Side Ml Today's Diary followed by Prog Summary and Say It With Music IMI Thirty Minute Theatre IUI John Fox Presents IIJ9 News in Brief 11.15 Small Talk 12.M Musical Tribute IJI PM The SBC Orchestra 1.31 News folllowed by Share Market Report and Weather Forecast 1.45 Music A La
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  • 1698 5 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 (3J88) (1)
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  • 182 5 SINGAPORE UNIT TBU8T iMmini' prtaaa tar A«j U) The Commerce 1.40 157 The Savings Fund 1* 2 0( S pore Prof Fund 151 1*1 S pore Sec Fund L21 2 Exd S pore Invest Fund 113 i ll S pore Equity Fund 144 151 DIAMOND MOT rPOBS (Ma—frtmm
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  • 2746 5 1981 Hick Low Company Last Sale +orGr'» Div Div Ctt Gr*s YTd Net P/E Vol (*000) Day Higfc Low SECTION ONE INDUSTRIAL COMMERCIAL 494 360 312 420 200 410 798* 875 430 300 Acma Alcom 130 Allied Choc 161 BAT 330 Bata 90 Ben 360 Berjaya Kawat
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  • 1851 5 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. INDWRUU AJaaa (188 IBS) (B) 324 (14) 322 (5) 3.J0 3 (1)
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  • COMPANY MEETINGS
  • 777 5 SELECTIVE aad cmUmi bayers aeii share prices slightly higher at the SUck Exehaage ti Stagapsre yesterday. Tradlag epesed very qsietly aad aitheagh a few ceaaters were still weak, a slight streagthealag sf meet prices ceald he dlaccraed. At mm, the Straits Times iadaatrlal ladex was
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  • 569 5 THE Kuala Lumpur market closed higher yesterday in more active trading after two days of listless trading. Buying support lifted the 30-counter New Straits Times industrial index 12.02 points higher to 1,031.21, while the Malaysian Business Times index of the day's 10 most active stocks was up
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
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      • 226 6 AUO M rr» COBBKILLE Att-UquM* BIN 0«rnU» WIM IMi -OA car (Thomjoo Clt ftmaealae 6m r»UQ>— m 33 m.10 •U cocnptcnie PIOAMllff Oanerml* Ml 0 CiwUl ronctor Dt rruct SIS -s Kactwtte (UbrmJrt#). Hf- 1 Ball r.« M uneb Mtctttlln (B) 004 4 PUltM PvcblMT Cl*lne Kuhlmann un 71-JO
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      • 154 6 r Ula Laban Ula Vara imto 4MJ0 -1 lAjsr hrHT vtuk t*y mm 147JB 1J IMJt -U DUB +< l*T 10 >1.1 BBC un —l. 2MBtUa V»r» 1—1PBt >»U Ounmi )almlar-Bana 3aguaaa hBM Dautaeba Bant 3raadnar Bank [X Taaaeo Oyckaittoff 8T A Knfca GHanaa Salaanbatt 3HH Oapaa-Uoyd Xtrptan Hoachat
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      • 58 6 AUO VOKWAKD MA1UT Actc MP ~3 ArM um Bni-UBk 1UD uoeb SnnZr_ Cocjl 1M dTbmre «> S*_ ScMM rm 1*1* -1» W-IM» +U UoMfe MM mi «m ig :s 5T«- k* gj, •SiSy k ..mm TanMs 3 ■3 V Moot i «n *t CASH MA*) i* T 1 -10
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      • 117 6 AUG > rraaea W uaeh Ml Br. no uach Bron'towt Br. CtM CMo cit* cmo r c Ctt» (Ma Cndtt Sgkiit BtHrvSMtaT** OMffli rtKbv Br OllllWM K *i vm im m m tm *3 KM •1 unch -a 10 ♦i 11,11 ll SMB uacb HoflMB La RocM l/B WE
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      • 64 6 nuu us 4— Aaaoc Oan jrt IMM> *mm Butof) Otctrmi* m ■mm 17V *15 ■Ul «U PlMMar Omi Immot) mm IUiCtOMQU ?9c *9 w» *m n&ifu MO lUMto M uncb Macmti m Ft Maralll Ere m 1M m *mm Mtrml>n» M 1M m > *m 75 «i Montadai MotU
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    • 101 6 aoo m < AMUM S MH +<* AlCM lUn Bank Moat 11H U« -H MH -1* luk Horn Scout f-rtl TV MH H M H •Mb Corp •P Out Ltd M unci) MH *H 1»« H CuWBI rr% +h MH *1 wis MS -Mi 7H uncH MH 1H MH
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    • 199 6 ado m n and INDU8TK1AL8 MO uncb m uncb AMir rm oocb IM *14 ar" Cum rintna 1M uncb 5 •4 Da tan tnd 1MB m> uncb Imili PM Voll PVfti rWnMan f«l at -1 Of tain uw in* 1# HUtM su HttlMl 790 tl Libert? Unrtte IT* uncb
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  • Page 6 Advertisements
    • 607 6 >&::,@](-,[)=@..).:![^\%.<~`{|* The American Express Card serves you well, wherever good food Is served f*IAPIUffSE RESTAURANT For sushi. For teppanvaki. For other authentically Japanese delights. hvrys* iMiliii'X I ':irl\ S|ht;ili »ii "^ii 'U-''| M 11 '< RESTAURANT Busness Breokfasf: 730 am II am lunch 12 noon 230 pm Dinner 7 pm
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    • 46 6 Rfeasgood as going to Bangkok. ♦a V V. -t. Jf restaurant Try our sumptuous delicacies from the Hunan Province. An Oriental dining experience. esssi> Business Hours: Daily 11.30 am— 2.30 pm 6.30 pm 10.30 pm oncflfe ■i 214 Duneam Road. Singapore 1129 Tel. ******9.*****22 ext 126
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  • COMPANY NEWS
    • 293 7 Dale Last Pull Year Company Period Announced Net EPS Gross Pre-tax last year (cents) Div. Profit (It*) Kesang Tin F 5/5 64 K Kampar F 17/6 69 8 73.3 3.647 Kramat F 176 1.112L Gula Perak I NA 1.1611. Sentosa I 8/7 322L Chem Ind I 9/7 23.7
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    • 360 7 PROMET Pte Ltd has been asked to give more information regarding its three joint-venture companies formed recently. The KLSE wants Promet to quantify the amount of investment incurred by the company for each of the joint ventures, namely SelfElevating Platform Management, Sofec-Promet SEA and Promega-Jaya (B). It was
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    • 192 7 PRE-TAX preflt at Malaysia LiltfiiHuii Merckaat Baaken Improved 2U per eeal U $4 .SI mllllaa la IIM. The profit, which Ls nrt o( a $125,H1 prevtalaa far deabtfal debts, represeats a retain if 32.1 per eeat aa sharebelders' toads at the beglaalag ef the year
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    • 441 7  -  By CHRIS LIM MALAYSIAN Feedmills expects the current year to be difficult although, barring unforeseen circumstances, profit is expected to be maintained. These sentiments were expressed by chairman Datuk Sri Ang Keong Lan in the group's latest annual report. But shareholders should not despair too much.
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    • MONEY AND EXCHANGES
      • 449 7 THE US dollar yesterday firmed against major European currencies in quiet late trading following its strength at the London exchanges opening, but remained weak against the yen. The US unit closed weaker at 2.1700 against the Singapore dollar. It edged lower to 552.169p and rose to $2.1705 in
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      • 190 7 THE US dollar yesterday rose against the mark and eased against the yen in quiet late trading, dealers said. The dollar rose to 2.5200/10 marks from an early 2.5150 60, and eased to 237.00 30 yen from 238.10 20 in fairly thin trading. Otherwise there was no fresh factor
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      • 246 7 THE US dollar for overnight delivery yesterday closed sharply lower at 236.30 yen, down from a 238.50 opening here, a 238.45 65 close in New York and 238.70/90 on the West Coast on Thursday, dealers said. It was also sharply lower than the 240.00 closing here on Thursday. Trading
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      • 22 7 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 14.44 per cent.
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      • 189 7 ASIAN RATES ASIAN currency deposit interbank rates as at close on Aug 7. US Mlara<S»M) Off.r U 7 days 1* 18'* 1 month 20 s aow 2 months 19 3/16 19 1/16 3 months 193/16 19 1/16 0 months 19 3/16 19 1/16 9 months 18W 18* 12 months 18*
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      • 44 7 RANGE of prt ret often A>» 7■d by dis OventigtM: to**.* Call deposits: «v»«* to# 1 Clamf B.y«M Selliac 3-month Treasury bills 0V 8S, 3-month Bank bills 13 12'« 3 months CD 12S 12* 6 months CD 12 124 Source: National Discount Co
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      • 51 7 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Aug 11 to 14: Offered: $120,000,000 Applied far: $263,050,000 Allotted: $120,000,000. Accepted Wds: $98 36 approximately 66 per cent and higher bids in full. Average rate of discount on allotmeat: 6.565 per cent per
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      • 224 7 SINGAPORE gold futures yesterday closed generally firmer in quiet trading, with its initial rise reflecting the metal's firmness in New York overnight, dealers said. Total sales for the day was recorded at 48 lots while kerb volume at 15 lots. Prompt closed higher at U*****.50/402.00 an ounce against 395.50/397.00
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      • 40 7 New York 8MB 8 JOB 8.84S 8 SOS Zurich 8 30B S25B 8 SOS M5S Singapore fll 8 GOB 8 30B 8 80S 8 MS Closing prv in US dollars a troy onac B. Source: Credit Suisse, S'pore.
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  • ASIAN STOCKS
    • 344 7 HONGKONG STOCKS closed generally weaker in fairly active trading yesterday, with mixed views on the prospects of a further increase in prime rates tending to unsettle the market, dealers said. However, reports the Hongkong government has intervened in the foreign exchange market to support the local dollar
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    • 388 7 THE market yesterday continued to make solid headway as strong metal prices helped offset expectations of another general rise in interest rates following a meeting next week of federal and state ministers comprising the loan council, dealers said. Peko set the pace with a 34 cent
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    • 404 7 THE TOKYO stock market average yesterday rose 62.83 to close at a record 7,968.93 on increased foreign purchases of blue chips following the yen's recovery against the US dollar, dealers said. The previous high of 7,945.27 was recorded on July 2. The Tokyo stock exchange market index gained 4.45
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    • 56 7 STOCK prices yesterday closed generally steady. AUO 07 BataU /uu run 1M •1 Bangkok Bank Bank Of Ayudhaja MO unch LiA ISO unch Berll Jucker MT -1 Charoonf Thai «1r> 174 -3 rim Tnm 47 75 -ox> Industrial Finance finrp 00 unch Rama Tower M •1 Slam Cement 107
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    • 76 7 AUO 07 1 PtM Acoje kflnlnc 00*3 uncb Alias Coo. A AUU Coo a 35 unch Bagulo OoW 0036 -0 0002 Bennct Coo. B Br Ooodrtch •1 10 40 1 I rnrp 341 -0 71 Landotl Lepanlo B 1390 -4L0U Martnduquc B uo ♦0-2 Phil Owmi XB1 ojxo PhUe*
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    • 848 7 ADO UB» ACT Industrie! 43% Addreaaograph 12* Alreo Inc Alan Alum In Wt Allegheny Lad 46* All ltd Chcm Cp M* Allied Store* 36 Allls-Chalmers 26* Alumhqo Amer Ik An Alrllnaa ui H 1* unch •1* -1* Am Brand* Inc Am Broadcast Am Can Co 40* SIM
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    • 56 7 FINANCIAL TIMES INDUSTRIALS Thursday 534.4 Wednesday 532.0 Week Ago 52» 9 DOW JONES AVERAGE INDUSTRIALS Thursday 852.01 Wednesday 953 58 Week Ago »45 II H.K.HANG SENG Friday 1718.15 Thursday 1722 46 Week Ago 1719.84 AUSTRALIAN INDUSTRIALS Friday 704 0 Thursday 7015 Week Ago 705 2 ALL ORDINARIES Friday
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  • Page 7 Advertisements
    • 184 7 Large Multi-National Group desiring to set up a large Commercial Trading House dealing in all commodities require a Excellent salary plus profit sharing and attractive fringe benefits will be offered to:1) Person who is capable in setting up the company independently. 2) With a minimum of 10 years of successful
      184 words
    • 135 7 t Your executives can drive bettercars and cost you even less. Here's where we come in. We have a fleet of Ford Granada Ghias for short or term rental. Rent one or rent a dozen. With no capital outlay. And because we are Ford distributors, every car in our fleet
      135 words

  • 204 8 MULTI-PURPOSE Holdings (MPHB), which is proposing to acquire Guthrie Bhd, has signed a Ssloo million syndicated loan agreement. Mr Tan Koon Swan, MPHB's managing director (operations), and Mr Wong Chew Swee, group corporate development manager, flew down to Singapore from Kuala Lumpur for the signing ceremony
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  • Chief Price Changes
    • 136 8 Rises Indices Aug 6 Aug 7 Hong Leonf lad 1800 130 BT Indicator: *****6 *****6 H Leong Credit 1390 100 Industrials: 789.18 803.25 C Sugar* 1610 60 Finance: 1759.34 1804.40 H Leong Fin G Ceramic* PMC 950 525 1560 45 45 40 Hotels: Properties: 1154.25 849.25 1164.12 862.65 O
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    • Article, Illustration
      151 8 AFTERNOON baying hraaght prices higher m the Sleek Exchange af Sin gap* re yesterday altheagh teraever was still relatively lew. The Btralts Times Indnstrial Mex was 14.fl palate higher at MSJS while the Butans Times Indleater ef the day's 19 meet active stacks reee 53M pelats te 12M7C.
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  • 95 8 SINGAPORE International Merchant Bankers Ltd (SIMBL) has informed shareholders of Town and City Properties Ltd that the purchase of a total of 9.867 million Town and City shares by Mr Hendra Rahardja and Mr Lim Tjoen Kong has been completed. Mr Rahardja bought 8.747
    95 words
  • 93 8 Reuter SUN KING Fung Development of Hoogkong has reached agreement to acquire 70 per cent of the issued share capital of Wealth Sand Ltd and 100 per cent of Palwell Ltd. It said it agreed with Sun Hey Investment Co Ltd to acquire 70 per cent of
    Reuter  -  93 words
  • 771 8 LONDON, Fri. Equities ended steady in quiet trading today, dealers said. At 3pm the Financial Times index was up 0.4 points at 534.8. Gold shares ended higher although off their best levels as the bullion price eased after an overnight rally. Gains of around 100 cents were noted
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  • 507 8 hhk Companies Editor: Mano Sabnani PARAMOUNT Corporation has given a breakdown of the forecast profit for four of the five acquisitions announced earlier. The five acquisitions are seven contiguous pieces of land in Damansara Heights from Kauri Sdn Bhd, as well as the property
    507 words
  • 394 8 THE Kuala Lumpur Stock Exchange (KLSE) has queried Promet Bhd on a recent report saying the company had procured orders worth half a billion dollars. The report, which appeared in the Star newspaper in Malaysia, said the orders included a U5542.25 million <Ms 93 million) oil rig
    394 words
  • 333 8 KEDAH Oil Palms Berhad (KOP), now wholly-owned by Selangor Coconuts Bhd (SCB), is expected to achieve gross earnings of at least M 51.2 million this year. Barlow Boustead Estates Agency Sdn Bhd, on behalf of SCB, was replying to queries from the KLSE
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  • 121 8 FABER Merlin Malaysia Bhd (FMM) has passed two ordinary resolutions at its EGM on July 29. They relate to the acquisitions of Grandview Development Sdn Bhd and Burmah Kompleks Sdn Bhd. Shareholders have approved and ratified the agreement with Grandview Development Sdn Bhd for the purchase of the
    121 words
  • 517 8 by HOCK LOCK SIEW THE excitement and enthusiasm in Malaysian business seems to be mellowing, and rightly so. Judging from the trade statistics so far, 1981 will probably turn out to be less buoyant than last year and investors would do well to bear this in-mind.
    by HOCK LOCK SIEW  -  517 words
  • 82 8 NEW YORK. Fri. TV stock market headed lower this morning amid some new uncertainty about the economic outlook. The Dow Jones average of 30 industrials dropped 2.47 points to 950.44 in the first half hour. Losers took a slight lead over gainers in the overfall tally of
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  • Page 8 Advertisements
    • 115 8 I y'.iT V >\ vi see v"y Where to Eat *i and Entertain Singapore 1981 JOHN LITTLE'S BOOK SHOP 4th Floor, Plaza Singapura TIMES DIRECTORIES (PTE) LTD 530 Cuppage Centre, 55 Cuppage Road Emporium Holdings Group leading book stores For advertising enquiries please contact:TIMES DIRECTORIES (PTE) LTD Tel: *****11 (10
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  • Page 8 Miscellaneous
    • 58 8 WEATiHERI Outlook tor Singapore from 6am to lpm today: Fair. Re pert for 24 hears prior to IJt pm en Aug 7 at the airport. Maximum temperature 32-6 Associated humidity 64 Minimum temperature 27.2 Associated humidity 92 Hours of sunshine 9-00 Rainfall in millimetres Nil Total rainfall for the month
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  • SINGAPORE IN TRANSITION
    • 999 9  -  By THE EDITOR THESE words were spoken by the Prime Minister on M his 55th birthday, almost three years ago. In an intern view that day with Business Times he ranged broadly over the role of leadership and the making and testing of leaders.
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    • 2351 10  -  Singapore's merchant shipping fleet has been breezing ahead to become the 14th largest in the world. But it cannot afford to anchor itself in future on the same fundamentals as before, says GOH ENG KEE, as he discusses the scrapping of the shipping registry. GOH ENG
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    • Article, Illustration
      1508 10  -  The financial sector must remain the mainstay of the economy. LEE YOKE MENG looks at what must be done. YOKE MENG IT WAS the biggest sensation in the Singapore world of finance. Unlike the /♦hanging of the guard at Buckingham Palace, the ranging of the old forces at
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  • Page 9 Advertisements
    • 293 9 L >n i j SHIPPING Very quietly, the Marine Department has come to grips with changing demands and propelled the merchant fleet knots ahead of many others, says GOH ENG KEE Page Tws FINANCIAL INNOVATIONS The financial sector abounds with innovations: LEE YOKE MENG describes the new instruments and schemes
      293 words
    • 215 9 "Is it so shameless", she murmured, "to be so sure of something so expensive?" She'd said all along it had to be a watch by AUDEMARS PIGUET. I'd wondered why. She'd just smiled and said I'd better see one. In the quiet calm of an eminent jewellers the man selected
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  • Page 10 Advertisements
    • 297 10 a. 11 V a.' I .*> For one thing, it's renowned. •Voted 1980/81 Japanese Car of the Year •Finished 4th in the 1981 European Car of the Year Awards •Voted most significant import car of 1981 by U.S. "Car and Driver" magazine •Voted 1980 Car of the Year by Australian
      297 words
    • 64 10 Singapore Cosmos Shipping Co. (Pte) Ltd. 45-47 Robinson Road, Singapore 0106 Tel: *****33 (8 lines) Cable Address "COSMOSHIP Telex: ***** Shipowners Chartering Agents Tankers and Trampers Operators. Shipping Agent lor Korea Tonghae Shipping Company, Korea Foreign Transportation Corporation Kimling Trading Co. (Pte) Ltd., 45-47 Robinson Road. Singapore 0106 Cable'*^ <
      64 words

  • 363 11 INDUSTRIES which have always ridden on the back of cheap and plentiful labour have been nudged to look outwards at labour abundant foreign territories such as Bangladesh and Sri Lanka to relocate the labour-intensive parts of their operations. These include the garments and textile manufacturers.
    363 words
  • 1310 11  -  By FONG MEW LENG NOT many industrialists are willing to commit themselves to an answer when asked whether Singapore is succeeding in its economic restructuring. Still fewer would want to hazard guesses on how the Republic will emerge from this era of transition. At best, answers would
    1,310 words
  • 383 11 SOME af the mare peaitlve reialti af Stappwc's relirietarlag experimeato cm already be sees la the eleetrealca iadastry. Beth Its predacta aad Hi pndMflM teefeaelagy affer wMe eeepe fer research, apgradlag sad develepmeat ud the Repabtte is Messed with a flveniM ud Arm ladsstrlal hase as far
    383 words
  • 1000 11 SINGAPORE should perhaps have campaigned for teamwork during the period between 1965 and 1968. In those three years, the economic, political and social threats were especially pressing and would have provided the stimulus for putting group and national interests above self. Now it will be a more uphill
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  • Page 11 Advertisements
    • 79 11 v,v X 5580 2620 Mi IV. .4 i >r J*«af I 4PI >• 2626-0150 s «v /> UMilw iiiiiiiiil jlit i 'i -p wr 6030-5060 mill o j +imf s: V All precious seem like ours. v .#3? N The futnre neveiJ dsoiio Wt&&P' w v.y Insist <m S>ik«»s lirtmutf
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  • 2472 12  -  In the industrial game, some players have advanced far beyond their home territories on the economic checker board. But even these mighty Singapore multinationals have their share of problems, says RONNIE LIM, as he traces their emergence. Other players like the traditional family businesses advance a more sedate
    2,472 words
  • 2589 12 SUM CHBONG Piling and JuFoog Brick Works Are not names that smack of the vast corporate power of the multinationals. Instead, by that comparison, they are modest homegrown products, which have nevertheless achieved the proud status of being the biggest and/or the best in their
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  • Page 12 Advertisements
    • 241 12 Heartiest Congratulations and Best Wishes to THE PEOPLE AND GOVERNMENT OF SINGAPORE on the 16th v NATIONAL DAY SINGAPORE SOVIET SNIPPING Wfr CO PRIVATE LIMITED 55, MARKET STREET, SINGAPORE 0104 OABLE: SINSOV SINGAPORE TELEX: RS *****, RS *****, RS ***** TEL: *****3 (15 line*) GENERAL AGENTS IN SOUTH-EAST ASIAN PORTS
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  • 808 13 ONE had a vision. Another has "computer eyes" and a third changed his life after he had read a catalogue. They all saw the same thing potential and turned it into success stories. They are the new generation entrepreneurs, young Singaporeans who ventured where others feared to tread.
    808 words
  • 412 13 PETER CENG, SI. Maaaglag director, Oh Bemg Imiattries, MJdera af taar--Ist eameĕea, pkmamre Mi ami eahta eralaan. Exparta ta CkIMM, Sri Lmmĕm, AaatraHa ami Aatmm. PETES CHNG did set really eheeee ta became aa eatrepreaear. Be had always werked lar his fatter, evea befare he left
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  • 525 13 JOHNNY MOO, 40. Managing director of Computer Systems Advisors, a computer software Brm based in Singapore, with offices In Kuala Lumpur, Hongkong Bangkok Taiwan and Indonesia. Company formed in 1970. Turnover last year $30 million. Number of employees: more than 400. JOHNNY MOO did not have
    525 words
  • 334 13 B T LOW, 31. Managing director, Wirtgen-Kenso Corporation, road maintenance engineers. B T LOW believes in keeping a low profile be bad even requested that only his initials be used. Ironically, be puts his mark all over Singapore. When you see a road Junction being repaired,
    334 words
  • 450 13 KENNY OOH, 30. Managing director, Ken-Air, travel agency. Arranges package tours to Europe and the United States. Traffic 3.500 tourists last year, projected 5,200 tourists this year. Turnover: $35 million last year, projected $38 million this year KENNY GOH comes from a business oriented family. His father
    450 words
  • Page 13 Advertisements
    • 557 13 A COMPANY IS AS GOOD AS ITS STAFF Though this is a common knowledge, few realise that profitability can only be achieved through long term investment in human resources. With this in mind, a Seminar-Course on STAFF TRAINING AND DEVELOPMENT organised by the APPLIED RESEARCH CORPORATION, SINGAPORE SRI INTERNATIONAL. USA
      557 words

  • 2121 14  -  MORE BREADTH AND DEPTH The flow of international funds into Singapore has continued unabated during the past few years. To achieve its goal of becoming a regional investment and fund centre, the authorities should continue to take positive steps to develop the equity market to give it
    2,121 words
  • 1453 14  -  By LILLIAN CHEW THE WINDS of change are upon us. They have not spared anything In their path, not even the civil service, an institution steeped in practices, some of which go back 30 years. The prospect of a new, aggressive hire and fire approach by the
    1,453 words
  • 1209 14  -  By SHANTI SEN THE STAGE Is set. The cast has not changed but this time, there are more key players going through the evolving scenes. These are the group of engineers, doctors, architects, lawyers and accountants and other professionals, whose roles will be watched with
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  • Page 14 Advertisements
    • 71 14 Congratulations Best Wishes to the Government People of Singapore on their 16th National Day. For more details, please contact your travel agent or call us A stnrtet airline«• r Singapore Office: The Ground Floor. Sinsov Building, 55 Market Street. Singapore 0104. Tel: ***** (5 lines) Bangkok Tel: *****65 Jakarta Tel:
      71 words
    • 116 14 Heartiest Congratulations and Best Wishes to THE PEOPLE AND GOVERNMENT OF SINGAPORE on the occasion of the 16th National Day CROWN MARINE CO (PTE) LTD Suite 901, 9th Floor Bank of Bangkok Building 180 Cecil Street, Singapore 0106 Tel: *****88 (5 lines) General Agents in Singapore and Malaysia for KS
      116 words

  • 1629 15  -  By RONNIE LIM RONNIE LIM AS SINGAPORE swings into the new era of high valueadded and technology based industries, it is vital that its lifeblood, trade, is given the transfusion it needs. For a start, trade officials are calling for a move away from exporting products, which
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  • 1501 15  -  By WANG LOOK KEAH SINGAPORE'S tourist industry in the 80s will have to grapple with the task of reducing the number of workers and at the same time increasing productivity to meet the new demands of the decade. It will have to make the big sacrifice
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  • Page 15 Advertisements
    • 34 15 Congratulations Best Wishes to THE PEOPLE GOVERNMENT OF SINGAPORE on the occasion of THE 16TH NATIONAL DAY HOE HOE SHIPPING CO PTE LTD 9th Floor, Grand Building. 17-J Philip Street, Singapore 0104. Tel: *****2
      34 words
    • 83 15 mi i l ill mi i r M s I •CATHAY BUILOING I C—' =>0 JUL T| py l IV rer 1 i TOILETS COMPARTMENT DECORATIVE TILES DOMESTIC TILES DOMESTIC TILES *ma j v ;r VsN| 398 INTERNATIONAL BUILDING PRODUCTS(PTE)LTD Rm 1002, 10th Floor, Golden Mile Tower Beach Road Singapore
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  • Page 16 Advertisements
    • 440 16 Electronics magazines in the Germany and Japan have made Sony Betaniax the winner: "...A short glance at the test results shows the Sony videorecorder leads all the other models in almost every field." That's the way West Germany's HiFhStereophonie described Sony Betamax SL-C7 in its December 1980 issue after testing
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  • LEISURE TIMES
    • Article, Illustration
      1774 17  -  DESTIIATIOI KOH TSE YING visited the Kobe Port Island Exposition recently as 3ft2o B -9ft 15 B KOH TSE YING TO MANY Singaporeans, Portopia '81 may mean little more than a name under the tour and travel column of the newspaper classified advertisements. But to the Japanese, especially
      1,774 words
    • 539 17 FILM REVIEW THE OLDEST pcsfeaslsa la the warid is aet restricted to toe femlalae geader ealy. There k»ve bees rmmMtogs (rem saspected prmrieat fllagspsresas that Ametiema Ft•ybmy, aew skewtog »t dade, sheaM aet he sees by Slagapereaas kecaaae It nay eacearage toe osea
      539 words
    • 572 17  -  WEEKEID eOURHET SALMA KHALIK tries good old German homecooking and Peranakan food, while SIOW LI SEN reports on the Brasserie La Rotonde's cuisine exotique. SALMA KHALIK, SIOW LI SEN THE trend today is to move away from the too elaborate to the simple and the natural. Which is
      572 words
    • 471 17 FRUITS as part of the main course, instead of being restricted to the appetiser and dessert part of the meal, has always been an attractive culinary proposition. So with eagerness, Brasserie La Rotonde's cuisine exotique was tried. And it fulfilled all expectations. The
      471 words
    • 682 18 M0T0RI18 with Hermes A FEW weeks ago, the Datsun 2.0 Laurel, a twolitre executive class saloon produced by Nissan to replace its outdated 200 L, was tested. This week's test features the top end of the Laurel series being marketed here the 2.4 litre
      682 words
    • 203 18 HIT A to we ud wta a BMW 321 ear. This to the •tier to gaiters to Mag part to the Real Estate Developers' Asseelatloa of Sing» pare (Redas) Ith Aaaaal Galf Taaraameat. With the odds agalast aa average gaiter bollag
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    • 150 18 AFTER jfcm, nil Mi mwy hi Malaysia teaksfike Mac m it way Nt. The omutry's lint Prime Mlateter, Taaka A Mai Bahmaa, rtartrt It ail la tM late llffe whea maay ma jar tanas afleettaa tM aattea aatf Its Ml|hkNn were hammered nt m
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    • 1005 18  -  By RONALD KOW FOOTBALL isn't everything. Which was why I found it difficult to decline an invitation to take a trip to a local country club this week to look at grass. After all, sportswriters should, once in a while, take time off
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    • 577 18 Reuter WEST Germany's handful of wealthy soccer clubs are expected to continue their first division domination In the new season starting this weekend, with Bayern Munich favoured to win its third successive league title. Although Hamburg, PC Kaiserslautern and VFP Stuttgart are again likely to
      Reuter  -  577 words
    • 157 18 UPI THE NEW ZEALAND Rugby Union has cancelled the Aug 19 match between the touring South African Springboks and the South Island provincial side South Canterbury. Rugby union chairman Ces Blazey said the game had been cancelled "for security reasons"and declined further comment after
      UPI  -  157 words
    • 225 18 TODAY: GOLF: SICC First round of the Race Course Cup at the Bukit course this afternoon. Competitors are YC Chen, K Tamai, Peter Ho, T P Yee, Robert Lye, Douglas Ooi, Sydney Kyle-Little, John Crawshaw, LT Kwee, Phillip Sim, Gary Yeo, LP Ng, TKikuehi, LK Pang, Michael
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  • Page 17 Advertisements
    • 135 17 BUSINESS TIMES GIVES YOU THE EDGE ONCE in a while, sportswriters should take time off from looking at sportsmen moving about the football field or golf courses and look at the grass on the pitch or greens and fairways instead, says RONALD KOW, who took a trip this week to
      135 words
    • 143 17 [business times] When we say business we mean just that *TPB SHMRYOKU GREEN LAWK. PAT y P CARPET GRASS FOR GOLF COURSES, PARKS, GARDENS.... V mmm o v m in V }~v HI 3S f't z +L,s n V .< |7 i 3* Revolutionary: Fine Bennuda U-3 grass seeds encased
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  • Page 18 Miscellaneous
    • 439 18 ■WHAT WHERE I FIREWORKS DISPLAY AS PART of the National Day celebrations tomorrow, a glittering one-hour long flicub display will be held at the Marine South reclaimed land at 8pm. More than 40 varieties of Guangdong and Beijing fireworks will be staged by the SAF Ammo Base personnel. The fireworks
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