The Business Times, 12 September 1981

Total Pages: 14
1 14 The Business Times
  • 11 1 BUSINESS TIMES M.C.(P) No. 107/1/81 SATURDAY, SEPTEMBER It, lttl 60 CENTS
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  • 585 1  -  By RICHARD SEAH YOU cannot fool Victor Koh by passing off horse meat or kangaroo steak as beef. His nostrils and tastebuds are so sensitive that you probably cannot fool him with anything at all. Victor is a creative flavourist. Ironically, his
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  • 216 1 initial conflict and friction caused by a lack of mutual understanding, Japanese management can adapt to the South-east Asian business environment. This observation was made by Professor Toba of Waseda University who was speaking to members of the Japan Overseas Enterprises Association and Japan Chamber of Commerce and
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  • 96 1 THE Ministry sf Labaar, la Its taveatlgattoa sf a possible mm «f mlsase of salaa faads, has reeeatly laterviewed afflcials of the Singapore Priatiag Employees' The Mlalstry hM a New Natfaa re part yesterday that the Gevenuneat is eheeklag the faads sf all 88 aaiaas to see if
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  • 554 1  -  SDF HAS YET TO FULFIL OBJECTIVES By WONG AI KWEI THE Skills Development Fund has once again been criticised for not fulfilling the objectives for which it was set up. This time, the issue was raised by the Singapore National Employers' Federation (SNEF) at a meeting with the
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  • 330 1 PRIVATE developers snapped up almost a million square metres of land released by the Urban Redevelopment Authority over the past 15 years. This is the total of all the 106 parcels of land sold in the URA's sale of sites' programmes. They involved 94 projects, 57 of
    330 words
  • BRIEFLY...
    • 74 1 Reuter TOKYO, Fri. Japanese exports of vehicles in kit form for assembly abroad have increased following voluntary curbs on car exports to the United States and Western Europe. The Japan Automobile Maufacturers Association said exports of knockdown kits of car parts for overseas assembly in the first
      Reuter  -  74 words
    • 59 1 JAKARTA, Fri. Two workers were killed and three others are still missing in a blowout and subsequent fire in one of Pertamina's oil wells in North Sumatra. A company spokesman said several workers also suffered burns and preparations are being made to put out the fire which
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    • 69 1 AP JERUSALEM, Fri. The Reagan Administration secretly promised that the sophisticated computers aboard spy planes to be sold to Saudi Arabia will be programmed to reduce the danger to Israel. The Israeli newspaper Haaretz reported today that the administration made the promise to Prime Minister Menachem Begin, who
      AP  -  69 words
    • 90 1 Reuter MADRID, Fri. Former Iranian President Abolhassan Bani-Sadr was quoted today by the newspaper Diario 16 as saying that he is preparing a general uprising in Iran but is opposed to any attempt on the life of Ayatollah Khomeiny. He said that a popular uprising against Ayatollah Khomeiny
      Reuter  -  90 words
    • 73 1 Reuter HONGKONG, Fri. Hongkong was the world's top knitwear production and export centre last year, exporting a record 46 million pieces compared to 39 million in 1979. Speaking at the formal opening of the IWS office for China, International Wool Secretariat (IWS) chairman DJ Asimus said the wool
      Reuter  -  73 words
    • 63 1 AFP TOKYO, Fri. The sharp decline in Japanese "sex tours" of the Philippines has forced the national flag carrier Japan Airlines (JAL) to reduce flights to Manila from November. A JAL spokesman said today that the airline's present two weekly flights to Manila from Nagoya, central Japan,
      AFP  -  63 words
    • 63 1 Reuter HONGKONG, Fri. Hongkong's major economic problem is its need to abate inflation, and success in this may require a degree of credit control. Financial Secretary John Bremridge said that if Hongkong can come up with a simple and effective system of controlling credit creation which does not
      Reuter  -  63 words
  • 266 1 BUYING-IN was conducted religiously for the second consecutive day at the Stock Exchange of Singapore yesterday and provided the only excitement in an otherwise dull day. Like the buying-in done on Thursday, yesterday's short positions were considerably reduced when they were actually cleared at 2.30pm. The
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  • Page 1 Advertisements
    • 236 1 I The Singapore's Straits Business Times World DIRECTORY at your Qf Fingertips Singapore (Buku Merah) UNITED Motor Works says its acquisition of the Sharikat Fiat Distributors group is part of a continuous diversification and expansion programme Page 12 THE Malaysian government will introduce three major amendments to the Bank Act
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    • 72 1 Leader...page I See page 5 mmmm and fairway game Heads are investment-cast metai alloy integrated with trie finest hardwood obtainable Each of these distinctive clubs carries a handsome 10 embtem So don t De bashful Let Lynx introduce you to a real 10 that loves to swing lynx Precision Golf
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    • 56 1 Times Bookshops! MOMMESSIN CHABLIS 1979 The special white wine for any special celebration. I "197 V uKis special year I met you holidaying at Cannes. "Life still is one k xiy i xjcation u'ithycxi "7 he Wench bottled a yreat wine that year "Noa». let's toast: To us. cheers". "I'll
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  • OVERSEAS
    • 604 2 BANK ACT TO BE AMENDED THE Malaysian government will introduce three major amendments to the Bank Act 19T73. one of which will empower Bank Negara to restrict the amount of loans given to any one borrower. Bank Negara will also be empowered to direct executives
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    • 106 2 Reuter INDONESIA'S state oil company, Pertamina, said yesterday that it has lowered the price of six types of crude oil but will maintain that of the benchmark Minas crude at US$35 a barrel. The price of high quality Attaka, Bekapai and Badak were reduced by 20
      Reuter  -  106 words
    • 283 2 AP WESTINGHOUSE Electric Corporation, determined to improve productivity and relations with unions, has been taking labour leaders to Japan to see the country's version of industrial harmony. Francis McTiernan, president of the Federation of Westinghouse Independent Salaried Unions, said: "If the company's motives were to
      AP  -  283 words
    • 293 2 AP SAUDI Arabia has withheld Immediate response to a Kuwaiti request for an emergency meeting of Opee oil ministers to resolve production and pricing disagreements dividing the world cartel. Industry sources in leddab said that Oil Minister Sheikh Ahmed Zaki Yamaai is
      AP  -  293 words
    • 456 2 NYT PRESIDENT Reagan has exhorted his Cabinet and the Wall Street financial community not to lose faith in his economic recovery programme. He also gave his Cabinet officers responsibility for making specific decisions on how to cut US$74 billion from the budgets for fiscal 1963
      NYT  -  456 words
    • 237 2 NYT WEST Germany's real gross national product (GNP) shrank 1.3 per cent in the first half of 1981 after a growth of 3.6 per cent last year. The statistics do not bode well for a quick recovery of the country's faltering economy. Government
      NYT  -  237 words
    • 175 2 Reuter AUSTRALIA'S National Companies and Securities Commission (NCSC) said Endeavour Resources Ltd's on-off bid for Northern Mining Corp Ltd is unacceptable. The commission added that it will take appropriate court action to ensure that Northern Mining's shareholders are not disadvantaged by Endeavour's actions. Northern Mining
      Reuter  -  175 words
    • 122 2 UPI EGYPTIANS endorsed President Sadat's recent crackdown of religious fanatics and political opponents by a sweeping majority according to early results of a referendum. Cairo Radio said early returns showed that between 99.1 and 99.3 per cent of the voters approved the stiff measures Sadat took
      UPI  -  122 words
    • 275 2 FOREIGN companies operating in Malaysia have been asked to adhere to the New Economic Policy (NEP) guidelines immediately. The Minister of Trade and Industry, Tengku Ahmad Rithauddeen, said companies which have so far paid only lip service to the guidelines should now pay
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    • WORLD IN BRIEF
      • 404 2 Agencies AN INDUSTRIAL dispute has halted preparatory work on communications for the Commonwealth heads of government conference which starts in Sydney on Sep 30. The dispute between technicians and Australia's Overseas Telecommunications Commission (OTC) over a wage claim is also threatening to disrupt the country's international telex
        Agencies  -  404 words
    • Article, Illustration
      454 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Azuma (0600 after Hannover land) 47 Blue Kochi (1830 hauls 31m east) 35/36 Elysian Star (1600 26 Equator 111 (after Builder) 22 Foochow (1300 after Hadji Agus Salim) 18 Joanna Star (0700 after Kai m hauls) 30 Kota Maha (after Kota Pelangi)
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    • 269 3 Reuter ASEAN news agencies have criticised their telecommunications' authorities for failure to reduce the rates charged on news they distribute. A joint statement issued yesterday at the end of a five-day meeting in Bangkok expressed disappointment that the authorities have not made further substantial reduction
      Reuter  -  269 words
    • 221 3 AP THE president of the European Economic Community Commission, Mr Gaston Thorn, has urged South Korean Prime Minister Duckwoo Nam to cut the EEC's growing trade deficit with his country. The deficit has jumped from US$l5O million in 1975 to $440 million in
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    • 143 3 UPI THE Japanese Cabinet has approved the opening of a gold futures market in Tokyo and trading will probably begin later this year. An official of the Ministry of International Trade and Industry (Miti) said rules for the exchange, to be set up at the Tokyo textile exchange,
      UPI  -  143 words
    • 161 3 AFP ACTING Malaysian Prime Minister Datuk Musa Hitam said yesterday that the government will give special emphasis to the development of all races to reduce racial sentiments. In the tussle between racial sentiments and development, he is confident that development would triumph. Datuk Musa
      AFP  -  161 words
    • 789 3 ARRIVALS Service Local Operator Number Time From CPA CX710 1005 HLP GIA GA850 1030 HLP SLA SQ103 1045 KUL GIA GA908 1045 MES PAL PR501 1055 MNL SIA SQ191 1105 PEN MAS MH681 1130 KUL MAS MH682 1135 KCH RBA BI423 1200 BWN SIA SQ1 1210 SFO/HNL
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    • 320 3 AP A UN fund that helps poor farmers in the Third World has used up its money and needs more to continue its work. The International Fund for Agricultural Development (Ifad) said on Thursday that it has exhausted the U551,025 billion it received
      AP  -  320 words
    • 182 3 AFP A LEADING member of Indonesia's Parliament has caliM on the government to quash speculations that It plans to devalue the rupiah to eope with the dre lining exports of non-oil products. Dr Challk All of the Muslim United Development Party (PPP) said speculations about
      AFP  -  182 words
    • 634 3 BROKERS ARE OPTIMISTIC NYT LEADING Wall Street brokerage firms are cautiously forecasting that the stock market will end the year in somewhat better shape than it is now. Predictions on where the Dow Jones industrial average will stand by the end of
      NYT  -  634 words
  • Page 2 Advertisements
    • 201 2 The oil industry is the world's largest commercial enterprise. Its extent is global, affecting every country. International issues from Iran to SinoSoviet relations are influenced by considerations of oil production and consumption whilst the international communications network of the larger oil companies rivals that of the majority of nations. In
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  • Page 3 Advertisements
    • 251 3 TODffX A NEW UOF BRANCH OPENS INTEIOK BLANGAH Today. United Overseas Finance opens a new branch in Telok Blangah at No. 348, Block 78, Telok Blangah Drive, Singapore 0410. Tel: *****90/1. Which means that you can now earn higher interests on your savings or fixed deposit accounts without leaving the
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  • RAW MATERIALS
    • 468 4 Reuter AP, AN import fee of one UScent a pound (.45 kgs) will be levied on raw sugar entering the US from yesterday. US Agriculture Secretary John Block said on Thursday that imports of refined sugar will be assessed 1.52 cents a pound,
      Reuter; AP,  -  468 words
    • 136 4 Reuter INDIA WILL import edible oils in adequate quantities so that more oils can be released through the Public Distribution System (PDS), Deputy Civil Supplies Minister Braja Mohan Mohanty told the Indian parliament. The government will maintain supplies of imported oils to the hydrogenated
      Reuter  -  136 words
    • 389 4 Reuter PHILIPPINE coconut buyers are awaiting official guidelines on government policy after Wednesday's decision to suspend export levies on all coconut products, with very little domestic buying in progress. The Philippine government announced the levy, averaging 76 centavos per kilo for all coconut products, had
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    • 314 4 AP THE Soviet Union has bought an additional 400,000 tonnes of grain for delivery in 1981-82, the sixth year of a long-term supply agreement with the US. Meanwhile, China canceled an order of 130,000 tons of wheat which had been ordered for delivery
      AP  -  314 words
    • 311 4 TRADING was generally much quieter this week with turnover greatly reduced locally as well as In overseas as most operators feel inclined to withdraw from the markets in view of the present static and uncertain conditions. HstMay, Catier, Bath an 4 Cwnpuy says in
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    • 109 4 WHEAT futures in Chicago on Thursday closed s>« to 1 V« US-cents a bushel higher, around the middle of a five cent range. Steady professional and wire house demand prompted local short-covering and held prices on the plus side, traders said. Traders cited Wednesday's technically strong close, strength in
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    • 132 4 SOYBEAN futures in Chicago on Thursday broke late to close mostly lower, down three US-cents a bushel to up V« cent in thinly traded deferred August. Late local long liquidation and professional selling mainly on forecasts for continued excellent crop maturing weather across the grain belt dropped most positions
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    • 176 4 CHINESE Pradaee Exchange, Sb|»p*rt, cMig price* per 1M kg yeaferday. Cmmil all: Bulk fob $122.50 sellers, old drum (in second hand drum) fob $136.50 sellers, new drum fob $141.50 sellers. Capra: Mixed (loose) $72.75 buyers. Pepper: Muntok white pepper fob Asta NLW $367.50 sellers, Sarawak white pepper faq
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    • 192 4 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) Cattaa yara: China Blue Phoenix*2o6 2,420 32s 2.900. 40b 3,100 (per bale of 400 lbs) Piece ga»4a: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly unq;
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    • 323 4 SINGAPORE: Yesterday's closing prices in SJ 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 0.75, Special
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    • 228 4 RUBBER prices in Singapore yesterday closed firmer with October One RSS buyers quoted at 229.00 cents per kilo, up three cents compard with Thursday's close, dealers said. The morning market gained one cent after fluctuating narrowly in quiet trading, they said. Prices firmed two cents in afternoon trading on
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    • 360 4 RAS prices In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 223 50 224 SON Int 1 R.S.S October 226 50 227.50 Int. 1 RSS. November 236.50 227 50 Int. 2 R.S.S. 197 00 198 00N UK/Coot 196 00 197 00N Int. 3
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    • 126 4 NOON SSR aad SMR prm jaaUi day HAS OcUtof Novmfcar (Cum Bvytn 1 MU) (Forward Nltl SSR JO U-toa palia Bayara Mien ti moo IK OON 1*00 196 OON SSR SO (1 -too paiia u moo 1M00N moo 196 00N MBELB OttoW Nave* bar SMR CV (ltoo
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    • 910 4 COFFEE: London robusta coffee futures yesterday traded quietly and narrowly after opening easier, as traders watched for developments at the International Coffee Organisation talks in London. Midday prices were £10 lower to unchanged on the day on a volume of 1,010 lots including 186 cross trades and 24
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    • 120 4 THE Kuala Lumpur market yesterday closed with prices easier on lack of interest in quiet trading, dealers said. In September, north dropped Mss to $890 a tonne and in October, south eased $6.50 to $879.50 while central was unchanged at $875. The refined market continued featureless despite India
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    • 92 4 THE STRAITS tin price la Penang yesterday fell three cents to M 535.17 a hile, still within the ITA celling range of $32.74 to $35.47, dealers said. The can tinned higher offerings by miners ahead sf the mid-an-tnmn festival today contributed to the marginal decline, while reports of
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    • 33 4 Rubber; Sept 11 Singapore: Oct: 229.00 cents (up 3.00 cents) Malaysia: Oct: 256.00 cents (up 2.50 cents) Tin: M*35.17 per kilo (down 3 cents) Official offering: 256 tonnes (up 15 tonnes)
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    • 114 4 Reuter DRY weather over centra] China aided cotton harvesting and benefited maturing soybeans In the week ended Sep 6. the joint agricultural weather facility of the US Departments of Agriculture and Commerce said in its international weather and crops summary. The agency said heavy rains
      Reuter  -  114 words
  • Page 4 Advertisements
    • 142 4 The Straits Times x The one tab to help you keep tabs on allyour resources! The triple-purpose index of the nothing more, our pages will tell you Straits Times Directory or Buku Merah all you need to know about that name (as we are also known) is your complete in
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  • TRADE AND INDUSTRY
    • 145 5 THE Asean subcontracting industry must raise substantially its standards of quality control, if the five countries are to export their subcontracting services. This was one of the main findings of a five-day market information seminar for the subcontracting industry, between the European Economic Commission and
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    • 148 5 THREE officers from the Economic Development Board and the general manager of Charterd Machine Tools (CMT) are leaving Singapore today on a technology shopping trip in Europe. The officers, Mr Wong Kok Seng, Mr John Lim and Mr Yap Cheng Huat, are in charge of
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    • 484 5  -  By THAM WING KEONG BUSH Boake Allen will be giving a new flavour to its activities in Singapore with the setting up of a manufacturing plant. One of the world's leading producers of artificial flavours and fragrances, it recently moved into a 900
      484 words
    • 463 5 CHARTERED Industries of Singapore (CIS) will be emphasising commercial production to reduce its dependence on Government sales. To meet this goal, it has embarked on a long-term programme to upgrade its technology with more sophisticated, computerised numerical controlled machines. Mr Lai Chun Loong, general manager of CIS, said
      463 words
    • 368 5 WEST German and Italian manufacturers will be the strongest contenders in the woodworking machinery sector of the Machine Asia 81 exhibition to be held at the World Trade Centre. With Asean promising a continuous profitable market, woodworking machinery has become without surprise the
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    • 348 5 KOBE International (S) Pte Ltd (Kisco), is planning to use robots in the machine stockyard of its newly-built $5 million computerised spare parts warehouse in Jurong. The company will introduce robots, made by its parent company Kobe Steel of Japan, to move
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    • 667 5 SEMINARS AND COURSES Sep 8-Oct 13: EDP m, Module IV, Working Capital Management, NPB Cuppage Centre, NPB Sep 9-Sep 16: Top Management Development Programme Module IV Business Policy and Strategy/Corporate Planning, Hyatt Hotel, NPB Sep 14-Nov 16: Personnel Management and Industrial Relations, New Lecture Theatre Two, Bukit Timah
      667 words
    • 709 5  -  By TSANG SAU YIN THE 18-month old holiday resort, Club Mediterranee at Cherating on the east coast of Peninsular Malaysia is making good progress. Contrary to market rumours, there is no change in its marketing programme which has contributed to its growing success,
      709 words
    • 404 5 LOCAL managers will soon be able to keep track of the massive amount of literature on management that is coming up all the time. Thanks to the innovation of a few Filipino businessmen, the World Executive Digest came into being a year ago and has since
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  • Page 5 Advertisements
    • 6 5 t^a Upper Floor World Trade Centre
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    • 310 5 NEW MUSCLE FOR ASEAN BUSINESSMEN Times Conferences wi give new muscle tor ASEAN businessmen m the* top level international conference on 'New Business Opportunities m the 80"s ASEAN CAN THE ECONOMIC BOOM LAST? ANY SAFEGUARD FOR BUSINESS? WHERE TO INVEST NOW? WHAT ARE THE OPTIONS? WHAT DOES USA OFFER? WHAT
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  • 574 6 THE SKILLS Development Fund has again been accused of not living up to its objectives. So long as the fund continues to sit on millions of dollars, it looks like accusations of this nature will continue to be made. This is not to say that
    574 words
  • 194 6 THERE ARE many types of skills which one can acquire in a polytechnic or a university by spending some years there. Such places can teach you very simple skills like how to operate machines or more complicated ones like designing and building houses. But
    194 words
  • 928 6  -  THE disabled are making travel plans, but they are hampered in this by the lack of basic provisions in hotels which will make their stay more pleasant. RAY ANG reports on their plight and suggests ways to improve hotels' services. HOTEL INDUSTRY, RAY ANG FEW LOCAL
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  • 519 6 THE FIRST World Congress of the Disabled Peoples' International will be gathered here in Singapore at the Hyatt Regency Singapore from Nov 30 to Dec 4. To hold this inaugural occasion, and as a preliminary formality, the chairman of the National Coordinating Committee of International Year
    519 words
  • 537 6  -  WHILE Italians on the mainland languish in the chaos, the rich are flocking to the tiny island of Capri where their security is assured. MICHAEL SHERIDAN reports MICHAEL SHERIDAN Reuter CAPRI, the island playground of Roman emperors and expatriate aesthetes, has cast
    Reuter  -  537 words
  • 451 6 THIS YEAR has been declared by the United Nations as the Year of the Disabled, and so far the attempts at focusing attention on the plight of the disabled have been very effective. The Singapore chapter found its feet in March under the chairmanship of
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  • Page 6 Miscellaneous
    • 633 6 TWO-11-OIE CROSSWORD CRYPTIC PUZZLE ACROSS 4 More entertaining (6) 7 Orangeman? (8) 8 It's not often you can depend on an artist! (6) 10 Wrongly takes food (5) 13 Tyrolean part (4) 14 TV animal? (4) 15 Like the story of a skyscraper? (4) 16 Leading spinner (3) 17 Beastly
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    • 18 6 Bri Stew: FiaaicDicto£ .UCJA, crisp GOmGON"? uhv u locked "TUC DOOR" P \'m COU£CT\t4G R^R ftEji^eP r O4T
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    • 802 6 F-TV:& Moonstruck by starry night VIEWERS wtM are familiar with the mi "Vtoeeat" by Dm Mtetcu will have the ehw to view the Hfe-stery af the mu la qaeattoa. Taalght's late Bight me vie ta ahMt the torhaieat Ufe af Dateh paiater, Vlaoeat Vu Gagh. Kirk Daagtoa atari u the
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  • Page 7 Advertisements
    • 518 7 a stimulating companion FOR THE BUSY EXECUTIVE .-1 V* 4 to-^\^ vVt° V r AVft VViLIW vt ai" 1 1 -sm. WTCK-A V" vv ,vvr% r tV«v' V>"^ s* I r «V- ,v >•' 4 s .i< A., ?w --l-'-Tj -p-*— Vr a y.v■:•.*•- N V 1 k J V
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 188 8 SEPT 10 Fls ARN 288 00 15 Ahold 68.00 -03 Akto 22.70 unch amev 91 00 0.5 Am fas 87 SO 0.5 Amrobnk 5170 0.3 Bergoas 22.80 -0.2 Berk 38 00 0.3 Bols 8250 1 BorsumlJ 157 00 13 Bur h man n 45.50 -0.3 C aland 37 80
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      • 246 8 SEPT 10 Frs CORBEILLE Air- Liquid? SIB +18 B S N Qervals Dtnone 1166 90 CSF (ThomsonCsf) 280 -13 Cle Francalse des Petroles 129 S Compognle Financier? Compagnlp Oenrr&le Credit Fonder De Prann 328 ♦6 Hiclxur (Llbralrie) 331 15 Machines Bull 40 -1J Mlchelm (B) 858 .2 Paribai Pechlnejr
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      • 98 8 SEPT 10 Fr» FORWARD MARKET Acec 2T0 4 Arbed nia 12 Astur 34® •3 Brascan 1085 •IS Bru -Umb 1130 ♦28 Canpac 1500 -20 Cock 140 -2 De Beers 290 1 Ebes 1M) •10 Electro be I 2050 unch Gb-Inno-Bm 1910 unch Oev 1406 10 Hobok 2230 30 Retro
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      • 219 8 SEPT 10 Dm Aef-T»lefunken 56» *12 A kao 20 40 »0J Alii Leben 1330 00 450 00 -15 Alls Vera BASF 142.20 14 Bay H T Wbank 175 OOB Bay Vtant 270 OOB 4 Bayer ***** 12 BBC 252 00 BMW 102.30 Casaella 257 00 2 Chem Verw 226
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      • 182 8 SEPT 10 Actions Sulssei Alusulsse Br Alusulsse Rrg Brown Bovert Br CI ha Gelfj Br CI ha QeltJ PCClba Oelo Ref Credit Suisse Br Credit Suisse Reg Elektrowatt Br Gforp Fischer Br Olobus Pc Hero Br Francs 245 5B HO 3» 1270 10B5 MS 525 2005 300 2300 540
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      • 102 8 SEPT 10 Lire Anlc suap Assoc On IWfeo 2900 Bajtofl 3M -15 Central* 972D -200 rial 1500 -45 PI riskier 42 0 25 Oen Immob 1649 -41 IFI Prt MOO -100 Italcemenll JR2S0 2360 Italcai «*> Itaislder 100 -0 MtfnfU M Pf 710 •1 Marvin Ere «uao lied lob
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    • 208 8 SEPT 10 CS Abitlbt Mean Alfomt Bint Mont Bant Non ScoUa Bell Tel Belt) Corp BP Can Ltd Bructn Camp Red Lake Can Imp Bk Canpac Can par In* Pf Carllnf OTCeefe Comtnco Cons Ball) Conj Mar be nor Dankoe Denlaon Dom Stores 2I<» 45 jes 24* I7H HI
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    • 290 8 SEPT 10 Rand INDUSTRIALS A Alpha rw Abrrcom tao AE And CI MO 10 AMIC arrvs Barlows 103D ♦s Cf Suf*r CNA 1900 «30 -n Currtt finance 2S6 10 Ut Been Ind Edcon 740 unch Cdftn 7S00B unch Fv»rr*dJ PMJ Vote MS unch rufit «K unch Oardian O tenant
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  • Page 8 Advertisements
    • 803 8 ;.):/],~-+-""=.^-{_[+?;:'[~|)?> The American Express Card serves you well, wherever good food is served". here to wine,dine and e Snacks for your island treks KEJ Take your pick: Curry Puff Chicken Pie Gateau Cake Hot Dog Hamburger Sandwiches Roast Beef Bun Pack Lunch Open: Monday Friday >0* 10,00 a.m. 6.00 p.m.
      803 words
    • 146 8 Kfcasgood as going toßan^cok. *cm (t'M This is Thai Seafood at its authentic best So fresh, it could have been alive 15 minutes before coming to your table It was An enormous variety of succulent seafoods expertly prepared by Thai chefs in our kitchen Siamese Seafood Restaurant a LOCKprt iXTfI
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  • BANKING AND FINANCE
    • 339 9 MONEY supply growth in the US has been brought under reasonably good control and remains basically on target for the year. New York Federal Reserve Bank president Anthony Solomon also said the Federal Reserve does not expect to meet money and credit targets with any precision on
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    • MONEY AND EXCHANGES
      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 14.39 per cent.
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      • 182 9 ASIAN RATES ASIAN currency deposit interbank rates as at close on Sep 11. US Dollan(Spot) Offer Bid 7 days 17 3/16 171/16 1 month 17* 17* 2 months 181/16 1715/16 3 months 18* 18* 6 months 18* 18* 9 months 18* 18 12 months 17 15/16 17 13/16 Swin. Dn.
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      • 46 9 RANGE of prices offered by discount houses on Sep 11: Overnight: t% Call deposits: 6**% to TO CM* Buyimf Selliag 3-month Treasury bills 6 1 6 3-month Bank bills 13* 13* 3 months CD 13* 13 6 months CD 13* 13 Source: National Discount Co
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      • 174 9 THE US dollar in Hongkong yesterday firmed against most leading currencies in thin late trading, dealers said. Most operators were reluctant to take up positons ahead of the local long weekend holiday, hence rate movements were erratic in a thin market, they said. The dollar firmed to a late
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      • 51 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Sep 14 to Sep 18: Offered: $135,000,000 Applied for: $272,680,000. Allotted: $135,000,000. Accepted Mils: $98.44 approximately 9 per cent and higher bids in full. Average rate of discount on allotment: 6.145 per cent per
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      • 481 9 THE US dollar closed marginally higher against most Imajor currencies after fluctuating narrowly in quiet late trading. The US dollar started on jl quiet note at $2.1606 against the local dollar. Movement was slight with the US dollar moving up a little to $2.1615 and finished jut $2.1610/20.
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      • 230 9 SINGAPORE gold futures yesterday closed weaker Compared with overnight levels after fluctuating marginally in thin trading, dealers said. Total sales for the day was recorded at 44 lots while kerb volume at 85 lots, they said. Prompt closed easier at U*****.00/449.00 an ounce against 449.00/450.50 on Thursday, October at
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      • 40 9 Than Wed New York 11.00B 10.60B 11 20S 10.80S Zurich 11.00B 10 25B 11.20s 10 45S Singapore r n 11 OOB Than 10 60B U.20S 10.SOS Closing prices in US dollars a troy ounce. Source: Credit Suisse, S'pore.
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      • 139 9 THE US dollar for overnight delivery in Tokyo yesterday closed firmer at 232.35 yen compared with a 231.20 opening in Tokyo, a 231.40/ 60 close in New York and 231.25/35 on the West Coast on Thursday, dealers said. This was also firmer than the 231.50 finish in Tokyo on
        139 words
      • 60 9 Opening quotes yesterday US 1.8012/22 Caui 2.1750 770 Cross 1.2077/80 D Mk 4.3400/442 D F1 4.8000 56 S FT 3.7210 55 B Fr con 71.12/22 F FT 10 4060 200 Lit 2178.30 2181.30 Yen 417 40 418.15 D Kr 13 5615 735 N Kr 10 8060 156 SKr-9 3650
        60 words
    • 310 9 Reuter. AUSTRALIA'S efflelal reserve assets fell A$3M mllllea to $4.7« billion in Aagut after falling $714 milUm to IS billion in Jaly, the Reserve Bank reported. In Angnst IMo, reserves fell %m million to $5.53 billion. Excladlag valuation effects, there was a fail sf
      Reuter.  -  310 words
    • 79 9 A 120 MILLION Swiss franc credit line agreement, concluded in 1978 between the governments of Switzerland and the Philippines, was extended by one year to Aug 10 next year. A spokesman for the Swiss government agency for foreign economic relations said a substantial portion of the credit
      79 words
    • 829 9  -  By ALVIN TAY THE Oversea -Chinese Banking Corporation's move to issue travellers cheques in Singapore dollars will not contradict the Government's policy of limiting the international role of the currency. The bank will start issuing the cheques on Monday, 11 days after the Monetary
      829 words
    • 358 9 THE ANNUAL meeting of the Commonwealth finance ministers in Bahamas later this month will consider world economic problems, assess prospects for economic growth and development, and review Commonwealth programmes for cooperation. The Malaysian delegation to the meeting in Nassau, Bahamas, on Sep 22 and 23 will
      358 words
    • 1040 9 NEW YORK stocks on Thursday recorded their biggest gain in over a month, boosted by indications that Congress may attempt some action to hold down interest rates. The Dow Jones industrial average rose 8.56 points, its largest daily gain since July 27 when it rose 9.13 and
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    • 513 9 Reuter THE MARKET for British government bonds has no clearer idea of the state of the economy, following the latest money supply figures, than it did before, and will continue to look to the US Fed funds rate for its chief guide, financial analysts
      Reuter  -  513 words
    • 87 9 Reuter PRANCE'S 15 bUllea franc six-year state band has been tally subscribed aa Its tint day aa effer, senrccs at Ste Geaerale, the baak hsadllng the beaks, said the bsae, which pays a recerd I<V« per cent, was laereaaed ea Wednesday ta IS bUllea fraacs (ram eight bUllaa.
      Reuter  -  87 words
    • 132 9 THE HEADS of American Express travellers cheque divisions in the Asia-Pacific and Australian region will be in Singapore next week (or a two-day meeting to develop business plana for the region. L?d by Mr Malcolm Perry, American Express regional vice-president, the participants will discuss development strategies for
      132 words
    • 48 9 PRIVATE Investment Company for Asia (Pica) has established a discount house in Hongkong Pinter Discount House Ltd to meet the demand for shortterm financing among medium-to-small factories there. The discount house is a subsidiary of Pica and participated by a Hongkong company, Francil Ltd.
      48 words
    • 185 9 STANDARD Chartered Bank reports group profits before taxation and extraordinary items for the six months ended June 30, 1381, of £139.2 million, a 15 per cent increase over the corresponding period of 1980 and 25 per cent over the profit of the previous half year. Profits
      185 words
  • Page 9 Advertisements
    • 165 9 Philips' ILLUSTRATED \r i V.^OI K ATLAS •JHHI mmssm f •JlfllT *T*rlm«llT« Xn« lIHJfI II HMI JiTll r TiirmFTiTiiM ;ipmi-• iH \t--m 111' 55 111 $99. This excellent book is only Limited copies: POST TOD A Y for your copy V\\V VA#.XV> ■OSV Mail Order Division 11m FEDERAL PUBLICATIONS 1/|
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  • 1610 10 RID and offer prices officially listed and business in and reported to the Stock Exchange °f 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 (2708 2726)
    1,610 words
  • 195 10 SING APORE UNIT TBI 8T DIAMOND MGT 8'POBE (MmKM' prleea tar Sep 14) (Manager* 1 prices tar Sep It 14) The Commerce 2.83 2.97 Diamond The Savings Fund 165 173 S'poreFd(USt) 085 090 S pore Prog Fund 1.30 1.37 SI 194 S pore Sec Fund l.ttxd 197xd (AugXtoday)
    195 words
  • 2794 10 Gr's Gr'a Net 1981 Last Div Div Y'ld P/E Vol Day High Low Company. Sale or- C'vr COOO) High Low SECTION ONE INDUSTRIAL A COMMERCIAL 494 268 Acma 270 -2 14.5 32 5.3 9.6 5 272 270 Alcom 144 4.8 2.0 3.3 24.8 350 130 Allied Choc
    2,794 words
  • 1887 10 BID and offer prices officially listed and business in and reported to the .Kuala Lumpur Stock Exchange with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified INDUSTRIALS Una (1.308 1 COS) xrl A ON (1.C78) (4) 1 60 (1)
    1,887 words
  • 199 10 UNITED Oversea* Baak: EOGM to be held at the Board Room of the Company. 28th Floor, UOB Building. 1 Bonham Street, Raffles Place. Singapore 0104 on Sep 12 at noon. DI NLOP Malaysia* Induttries Berhad: EOGM to be held at 4 Jalan Tandang. Petaling Jaya, Selangor, on Sep
    199 words
  • 817 10 BI'YINO-IN tu igiii the mala ittnrllM at the Stack Eiekaagc of Slagspore yesterday, it waa deae far eatstaadlag sales made aa Bep 7 far which scrip had aat beea delivered. The list of opea positions yesterday wm at leag m Thanday's. It waa
    817 words
  • 616 10 TRADING conditions were dull and easy at the Kuala Lumpur stock market yesterday. Activity in speculative counters, which attracted much interest of late, was toned down in line with the slower pattern of trading. The easier close comes at the end of a rather quiet
    616 words

  • COMPANY NEWS
    • 607 11 MALAYSIA'S national shipping line, Malaysian International Shipping Corporation (MISC), has piled success upon success in its financial performance. After tripling profits in 1979, MISC notched its highest ever profit of M 556.37 million pretax last year, double the 1979 figure. With this whopping
      607 words
    • 305 11 Date Last Fill Year Company Period Announced Net EPS Gross Pre-tax last year (cents) Etv. Profit <%) (I**) Sentosa I 8/7 322L Chem Ind I 9/7 23.7 15.0 3,460 Berjunlai F 24/7 52.0 85.0 45,842 Kulim Msia I 6/8 11.8 24.0 11,544 Utd Plantations I 14/8 28.2 30.0
      305 words
    • 149 11 JARDINE Matheson Investments (SEA) said interest on its per cent guaranteed unsecured loan stock due 1985 will be paid on Oct 31. The interest is subject to a withholding tax of 40 per cent except where it is paid to a Singapore resident. Those who wish
      149 words
    • 261 11 FT TRADING so far indicated that Inchcape Ltd's results for the current year would prove acceptable, chairman Lord Inchcape told the annual meeting in London. He denied that the company will make a rights issue soon. He said that while the board does review capital structure
      FT  -  261 words
    • 222 11 SHOE-MAKING group Bata (Malaysia) Bhd received a boost in its half-year profits because of lower raw material costs. For the half year ending June 30, unaudited pretax profit rose 20.6 per cent to M 54.18 million on a 12.5 per cent increase in turnover to $40.6 million.
      222 words
    • 898 11  -  By CHRIS LIM JAMES Capel expects Dunlop Holdings, a London-list-ed international rubber group, to show a profit of £5 to £10 million at the year end and £35 to £40 million for next year. It said the main positive features about the group are: The
      898 words
  • ASIAN STOCKS
    • 302 11 HONGKONG GROWING confidence in the Hongkong market yesterday pushed the Hang Seng index up 17.97 points to 1,533.85, dealers said. The day opened steadier on better sentiment from New York and London. Trading was active throughout, some dealers noting that the market seems to have found support
      302 words
    • 527 11 THE Tokyo market yesterday extended Thursday's fall and closed sharply lower after fluctuating widely. The market average at one point was 73.14 down on the day but recovered later to close 39.82 lower at 7,543.45 with a volume of 300 shares. The Tokyo Stock Exchange
      527 words
    • 64 11 SEPT U BahU Aaia Fibre 113 Aruthay* In* And Trust Bangkok Bank Bank Of Ajrudhar* 234 unch Ltd Berll Jucker Cnaroonf Thai Wire Ptnt Trust 44 OA Industrial finance Corp 90 -1.5 International Cosmetics r International Trust And ru.._ Ram* Tower H 49 50 0.T5 S*ha Union 146 -f
      64 words
    • 91 11 SEPT 11 Pesos Acoje Mining 0044 unch AUu Con A AUu Con B. M +0.1 Baculo Ooid 0033 ***** Benfuct Con. B BF Goodrich SO 10J0 unch CDCP 4 40 unch LAndoU Lrptnto B HI i m unch -0.1 Mmrtnduquc B 7 JO Oriental A OrMntAl B «o iUH
      91 words
    • 272 11 A FIRMING gold price, a Wall Street rally and hopes for Western Mining's Canning Basin oil find helped the All-Ordinaries index back above the 600 mark, dealers said. WMC, which reported oil shows at its Acacia No 1 well on Tuesday, finished the day 20 cents higher at $4.95.
      272 words
    • 52 11 FINANCIAL TIMES INDUSTRIALS Thursday Mf-6 Wednesday 546 i Week Ago 568 0 DOW JONES AVERAGE INDUSTRIALS Thursday 882.44 Wednesday 853.88 Week Ago 867.01 H.K.HANG SENG Friday 1533.85 Thursday 1515.88 Week Ago 1507.54 AUSTRALIAN INDUSTRIALS Friday 690.8 Thursday 689.5 Week Ago 698.1 ALL ORDINARIES Friday «3» Thursday 599.5 Week
      52 words
  • Page 11 Advertisements
    • 223 11 •5* s o 4P V 1 V K v jmJ *u Delivered to your doorstep hot off the press and at no extra charge! GO, HERWORLD, HER WORLD DECOR GUIDE IkagfS?- arid SINGAPORE BUSINESS. V« k» <*»555*J£F* Place an order with your regular news vendor Let your vendor Know the
      223 words

  • 174 12 UNITED Motor Worlu will take op a it per cent stake In the new subsidiary to be set op to take over the Toyota franchise from Inchcape In January. In a statement to the KLSE, UMW said the issued capital of the new company is
    174 words
  • 680 12 Companies Editor: Mano Sabnani UNITED Motor Works (UMW) has given three major reasons for its acquisition of the Sharikat Fiat Distributors (SFD) group. In a circular to shareholders, UMW said the acquisition is, firstly, part of its continuous diversification and expansion programme into other sectors
    680 words
  • Chief Price Changes
    • 138 12 Rises Indices Kempas 450 10 MBS 340 10 Sep 10 Sep 11 Guthrie 416 8 BT Indicator *****1 *****8 Semb Shipyard M Breweries BAT 600 585 160 5 5 5 Industrials: Finance: 645.50 1516.25 631.18 1506.30 Pan Electric 328 4 Hotels: 1020.18 1014.10 J C MPH 290 4 Properties:
      138 words
    • Article, Illustration
      149 12 SHARE prices continued to drift downwards yesterday despite the bnylng-in procedures being conducted by the Stock Exchange of Singapore. The Straits Times Industrial Index dropped 14.32 points to CI.IB while the Business Times Indicator of the day's II most active stocks fell 3K3 points to *****8. Rises Indices
      149 words
  • 572 12  -  By HSUNG BEE HWA PAPER products group SPP Ltd intends to go ahead with three acquisitions announced earlier this year despite the postponement of its rights issue. Meanwhile, SPP's chairman, Mr Peter Bryant, and certain other parties have been cleared of alleged breaches of
    572 words
  • 770 12 LONDON, Fri. Yesterday's Wall Street gain prompted some demand but turnover was small. At 3pm, the Financial Times Index was up 3.4 points at 552.0. Government bonds showed net rises of up to while equity leaders recorded modest advances after an irregular trend, dealers said. Gold shares were
    770 words
  • LATEST RESULTS
    • 125 12 has reported group pre-tax profits of M 53.54 million for the year ended April 1981 compared with $4.56 million the previous year. Group profits after tax amounted to $2.51 million against $2.94 million previously. The directors have proposed a final dividend of 7 3 per
      125 words
    • 69 12 made pre-tax profits of $978,694 for the year ended April 1981 compared with the previous year's pre-tax profit of $1.13 million. The net profit after tax was $551,209. A final dividend of 20 per cent less tax has been proposed which together with the interim dividend
      69 words
  • 455 12 HYTEX, suspended from the boards of the Stock Exchange of Singapore since 1976, is due to make its reappearance by the end of this month. The SES has given its approval in principle for the relisting of Hytex shares and is expected to announce the
    455 words
  • 92 12 AP NEW YORK. Fri Slock prices were slightly higher in early trading today. The Dow Jones average of industrials was up 0.67 points to 863.11 in the first hour Gainers were ahead of losers by an 8-to-3 margin in early trading of New York Stock Exchange-listed issues
    AP  -  92 words
  • 593 12  -  EMIEE© By KOH TSE YING NEWS that Malaysians have taken over Guthrie Corporation made headlines this week in the United Kingdom and Malaysia. But while most members of the corporate community were examining the mechanics of the move, there were others who remembered to look behind
    593 words
  • Page 12 Advertisements
    • 412 12 ESTATE DUTY PLANNING v CUM PROPERTY AND SHARE INVESTMENT PLANNING 16TH OCTOBER, 1981 (9 a.m. to 5 p.m.) HOTEL EQUATORIAL Fee $388 per person (covers cost of tea/coffee, lunch and course materials) FIND OUT ABOUT: "Why is Estate Duty Payable What are dutiable property Exemptions Deductions Estate Duty Rates Interest
      412 words
  • Page 12 Miscellaneous
    • 58 12 Outlook for Singapore from 6am to lpm today: Showers in several areas. Report for 24 hours prior to 7.31 pm on Sep 11 at the airport: Maximum temperature 30.5 Associated humidity 73 Minimum temperature 23.2 Associated humidity 99 Hours of sunshine 7.30 Rainfall in Trace Total rainfall for the month
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  • LEISURE TIMES
    • 876 13  -  The art of vegetable carving requires painstaking preparations, reports WONG Al KWEI, after reading the book "Chinese Vegetable Carving" which she received when she attended the Hilton's Golden Hunanese Banquet. WONG AI KWEI, THE COOKING may be delicious but unless it is pleasing to the eye,
      876 words
    • 799 13 Since the old Frankfurt opera house was all but destroyed in the Second World War, the city administration has fought and argued over the future of the ruined facade. Now the building has been restored and restarts life as a concert hall and congress house. FOR MORE
      799 words
    • 625 13 WEEKEID GOURMET SINGAPOREANS and food are two words that come together very often. Lunch, tea, dinner and supper are thought of with great interest and delight, even for the weight-conscious. So without doubt, hotels and restaurants are only too eager to cash in on this
      625 words
    • 65 13 A JOINT exhibition by Patek Philippe and Mondial is on at Mondial's showrooms. The display, which started on Thursday, will end tomorrow. Viewing times are from 10.30 am to 6.30pm. The exhibition features some of the most exquisite timepieces and jewellery. Mondial is featuring its latest collection of
      65 words
    • 40 13 THE SINGAPORE Cultural Foundation hfi" awarded two further grants to local cultural organisations. The recipients are the National Book Development Council of Singapore and the Young Voices' Choir of the Young Musiclans' Society. They received and $MM> respectively.
      40 words
    • 390 13  -  SALMA KHALIK. THE BATHER blase Stagspore crowd, laared to haate cuisine, to the expensive aad the exotic, caa aow settie dowa to some down-to-earth faad. TV Holiday Inn's Thai Faad Festival feft tares faad which, while differeat from the ordinary fare, resembles local hawker
      390 words
    • 538 13  -  By SIOW LI SEN WHAT restaurants call "businessmen's lunch" is another version of a buffet. On weekends, when businessmen and businesswomen do not work, the BL becomes the family buffet. However, in order to fill the restaurants at lunch time, hoteliers, who operate the more expensive
      538 words
    • 846 14  -  SINGAPORE AMATEUR ATHLETIC ASSOCIATION APPROVAL Tang Ngai Kin and his fellow athletes, like John Walker of New Zealand, will no longer have their amateur status penalised if they accept advertising assignments. Mr Maurice Nicholas, president of the Singapore Amateur Athletic Association, discusses details of the new
      846 words
    • 961 14  -  By RONALD KOW COACHES are often caught in a dilemma when it comes to deciding between fielding the best players and giving the youngsters a chance, especially when the senior members of the team try to play hard to get and ought to be taught
      961 words
    • 342 14 TODAY: GOLF: Juroag: The qualifying round for the Jurong Country Club Championship and the Intermediate Cup will be held during the 'A* and 'B' monthly strokeplay medals today. Keppel: The 'C monthly medal strokeplay competition will be held today. Changi: The Ladies will be playing their monthly
      342 words
    • 321 14 AP THE AGE of electronics has come to the US Open Tennis Championships with a beep, a flash and a squawk. The new sound at the '81 Open is a loud beep that can be heard throughout the stadium every tjwM» the ball hits the
      AP  -  321 words
    • 901 14  -  CHARMAINE CHAN THE FIRST CAMP for the trainees of the XL-Kennex Tennis Scheme njeant giving 30 children 18 hours of coaching on court and keeping them amused during their four-day stay. Add to that the uncertainty of the weather and it about sums up the
      901 words
    • 221 14 HAVE a better aaderstaadIng aad a claaer leek at the fear swlmmlag strikes at the Natleaal Stadlom Theatrette, where seme films are Mag aereeaed (ram IIJ9 this maralag. Five 15-mlnate (llmiets, which were Mpe4 far lnstractiaa at all. levels af teaching fram eiah to college, eaa
      221 words
    • 385 14  -  By KOH TSE YING FLYING enthusiasts will no lorger need to plan their trips 12 hours before takeoff. The Republic of Singapore Flying Club has announced that, with effect from Sep 1, private flyers need only give two hours' notice before flying. Previously
      385 words
    • 923 14  -  A group of millionaires founded a golf course, on an island off the US coast. The interruption of play by a German submarine is possibly the reason why World War Two was won, reports ROGER PAUL. ROGER PAUL FT JECKYLL Island, off the
      FT  -  923 words
  • Page 13 Advertisements
  • Page 13 Miscellaneous
    • 488 13 WHAT WHERE y FILM SHOWS LA BELLE EQUIPE (The Happy Team), a 1936 French movie, will be screened at the RELC Auditorium on Tuesday and Wednesday. Directed by Julien Duvivier, with Jean Gabin, Charles Vanel and Viviane Romane in the cast. In colour with English sub-titles. Presented by Alliance Francaise
      488 words