The Business Times, 11 January 1986

Total Pages: 12
1 12 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 192/12/85 SATURDAY, JANUARY 11, 158« 75 CENTS
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  • 311 1 DISMISSING CRITICISM of Intraco, the government-con-trolled trading company, Mr S Chandra Das, its outgoing managing director, has expressed confidence that the company would continue to have a bright future. Intraco, he said, "has been a convenient whipping boy" and there was no truth
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  • 413 1  -  By CHUANG PECK MING THERE WILL BE a temporary cut in the rate of employers' contributions to the Central Provident Fund but the government has yet to decide on the extent of the reduction, when it will be introduced and for how long. Parliament
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  • 607 1  -  Approaches made to several companies By AMY CHEOK,ALVIN TAY THE CONTROLLING Lim family of Emporium Holdings has been scouting for both local and overseas companies to buy over the group's Singapore operations. Brunei-based QAF Ltd, which has a supermarket joint venture with the
    607 words
  • 172 1 AP, Reuter GOLD PRICES SOARED yesterday but the US dollar steadied on European foreign currency markets after plunging in New York overnight on rumours of heavy dollar sales by Arab interests backing Libya against President Ronald Reagan. Gold jumped by about US$5
    AP,; Reuter  -  172 words
  • Article, Illustration
    75 1 THE RETURN of bargain-hunters and *h«rt-covering In the afternoon helped share prices to recover from their morning lows yesterday. The market closed mixed to easier on a lower turnover of 12.71 million shares against 14.27 million on llmrsday. TV Business Times Composite Index slipped 1.1 l point to
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  • 325 1 UPI AN AMERICAN staying in a Hamburg, West Germany, hotel expected to pay US$2O for a seven-minute call to Rochester, New York, but was not prepared for the hotel's 450 per cent surcharge that added $90. A Detroit traveller called home from the
    UPI  -  325 words
  • 113 1 Reuter TAIWAN will no longer help private companies in financial difficulty following the attempt last year to rescue the giant Cathay business group. A Finance Ministry spokesman said yesterday senior ministry officials had agreed after a meeting on Thursday that no loans would
    Reuter  -  113 words
  • 446 1 IN A MOVE to strengthen its position in the South-east Asian aviation, defence and marine market, Sperry Corporation yesterday announced the setting up of a $10 million service and repair centre in Singapore. The US group, a Fortune 500 company known
    446 words
  • Page 1 Advertisements
    • 202 1 ASIfITEH'B6 J Southeast Asia s 3rd International Exhibition of Textile Garment Machinery and Fabrics Trade 24 -27 May 1986 W.T.C. Singapore INTERFAMA EXHIBITIONS PTE LTD 'P.irkwv.*v Buffers omr»*clo 03 <M> 1 Centr.il 1 544 Tel 345>69C)0 TRS ***** INF AMA IGolf Club C-500 Reason *1: TOPS IN DISTANCE If* a
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    • 265 1 Other parliamentary reports, Back Page Doubts over value of tough US policy SHARE INFORMATION MONEY EXCHANGES RAW MATERIALS SHIPS IN PORT CROSSWORDS TV RAOIO DOONESBURY BRISTOW OUR VIEW JAPANESE UNION LEADERS, worried thot less that 30 per cent of the country's 58 million workers are unionised, are turning to a
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    • 12 1 Full report, Pag* 10 Intl stocks, Page 8 Asian stocks, Paga 9
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    • 198 1 nn>l INTERNATIONAL ftTS LEISURE MART '»1 1 The Fair For Wholesome Pursii"' 4 Playing... Living... Learning 21 24 June 1986 W T.C. Singapore INTERFAMA EXHIBITIONS PTE LTD P.trfcvwdv Builders Centre nIO 03 Ofc 1 M.nne P«*ra<Je Centr.il Singapore 1 b44 Tel *****00 Tele* RS INF AMA ASIAN AER#SPACE'B6 The cream
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  • HOME NEWS
    • 450 2  -  Purchases directed to other countries By BRIAN GOMEZ SINGAPORE'S largest importer of Sri Lankan tea has frozen stocks totalling 3.5 tonnes and diverted purchases to Indonesia, East Africa and other countries after reports that Tamil separatist guerillas had poisoned the tea.
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    • 255 2 LIM CHENG HUAT has been appointed the senior manager, foreign exchange money market, of Deutsche Bank (Asia Credit) Ltd. Mr Lim has been heading the FX/MM operations of the bank since 1978. The bank has also appointed MAUREEN HENG as the chief dealer, FX MM and PETER
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    • 364 2 ASIAN AER'?SPACE'B6 A CANADAIR Challenger 601 business jet will be available for demonstration flights at the four-day Asian Aerospace '86 exhibition at Changi Airport. Canadair is one of the 20 companies taking part at the Canada national stand at the show
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    • 349 2  -  By ELAINE KOH PLASTIC manufacturer Lamipak Industries and its subsidiary Panther were wound up yesterday and put into liquidation. The court appointed provisional liquidators Deloitte, Haskins and Sells as liquidators for both companies. As liquidators, Deloitte will try to sell some part of the operation
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    • 237 2 FRANCE will be represented by 25 companies under the umbrella of the French Federation of Aeronautic and Space Industries (Gifas) at Asian Aerospace '86, which takes off on Wednesday. Occupying the 1,200-sq m French Pavilion, the companies include Aerospatiale, Avions Marcel Dassault-Breguet, Snecma, Matra
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    • 272 2 FRENCH AEROSPACE company Aerospatiale will put on show its helicopters, tactical missiles and aircraft at the Third Asian Aerospace '86 exhibition at the Changi Airport. Aerospatiale has been established in Singapore since 1977 through Sama- ero, a company in which it has a 65 per
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    • 393 2  -  By RICHARD SEAH ELECTRICITY RATES for industries in Singapore are among the lowest in Asia, partly because of the government's policy of adjusting rates regularly to reflect current fuel prices. In a comparison of nine Asian countries, industrial electricity charges in Singapore
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    • 1024 2 AT CONVENTIONAL WHARVES Vessel Berth Agent Arrival Departure KEPPEL WHARVES 111 86/2300 Anagel Ares K1 1 Borneo alongside Da xmg K34 Yick Fung alongside 11.1 86/0930 Lampung Kl 1A Heap Seng alongside 11 1 86/0900 Linden K16 Borneo alongside 11.1 86/1200 Manoloeverett K33 NAPL alongside 11 1
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  • Page 2 Advertisements
    • 128 2 WORLDW/DE COURIER Changing the way the world does business. NOTICE NOTICE IS HEREBY GIVEN that, I Peh Kwee Piow of No. 109, Jalan Haji Alias Singapore 1026 have applied for a First Class Public House licence in respect of premises at M/s: Jade Wonderland Restaurant Pte Ltd, 66/68, East Coast
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  • OVERSEAS
    • 383 3 Reuter MAJOR AMERICAN trade unions yesterday announced a boycott of Shell Oil products in the US, joining the anti-apart-heid Free South Africa Movement in a campaign to end foreign investment in South Africa. Leaders of the AFL-CIO, a trade union federation with 13 million
      Reuter  -  383 words
    • 418 3 UPI WORLD CHESS CHAMPION Gary Kasparov has said that meetings with Florencio Campomanes, the president of the International Chess Federation, had failed to resolve the dispute over rules with regard to a second rematch with toppled champion Anatoly Karpov. The 22-year-old champion, who
      UPI  -  418 words
    • 324 3 Reuter PHILIPPINE President Ferdinand Marcos yesterday said next month's elections would go ahead as planned and that he would not reimpose martial law unless communists began attacking cities and there was fighting on the streets. Mr Marcos, who imposed nine years of
      Reuter  -  324 words
    • 146 3 AFP LECH WALESA, the head of the banned Solidarity union, has urged Poles to mobilise to obtain the freedom of Poland's political prisoners a figure he set at 260. He said freeing the political prisoners was "the preliminary condition for resumed dialogue between the
      AFP  -  146 words
    • WORLD IN BRIEF
      • 72 3 HONGKONG authorities have announced the closure of three major country parks and one nature reserve after a hill fire damaged about 130,000 trees. The fire started at the Shing Mun Country Park on Wednesday and spread to an area of about 900 hectares. More than 400 firemen
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      • 38 3 COLOMBIAN SCIENTISTS monitoring the Nevado del Ruiz volcano yesterday warned of a possible new avalanche worse than the one that killed 23,000 people in November, and called for the evacuation of everyone living near the mountain.
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      • 47 3 CHINA'S state education commission is planning a shake-up of the higher education system to provide graduates in journalism, law and finance. The official English-lan-guage China Daily yesterday quoted an official as saying the number of students studying in those professions was below the country's needs.
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      • 34 3 ABOUT 44,000 paramilitary troops and police were yesterday deployed across Punjab to prevent trouble during a protest road blockade after the state's chief minister warned that he would deal sternly with lawbreakers.
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      • 40 3 SYLVESTER STALLONE is the highest paid actor in the world. Parade magazine yesterday quoted a talent agent as saying that Mr Stallone received US$l2 million for Rocky IV and probably got a percentage of the film's profits.
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      • 57 3 TRUCK DRIVERS In Rio de Janeiro have ended a four-day strike that had caused food and fuel shortages in major Brazilian cities and blocked highways around the country. The strike ended officially with an agreement on the truckers' main demands a minimum pay scale for freight and the
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      • 39 3 > PREMIER Yasuhiro Naka- sone made an annual new > year's visit to a Shinto shrine I on Thursday but, stung by criticism at home and abroad, he avoided a place of worship dedicated to Japan's war dead.
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      • 60 3 Agencies JAPAN and the US have failed to reach an agreement on protecting North American salmon from Japanese high-seas fishermen, jeopardising Japan's access to a huge bottom fish catch in Alaskan waters. "We did not make any progress." said Edward Wolfe, the deputy assistant secretary of state.
        Agencies  -  60 words
    • 252 3 AFP JAPANESE Foreign Minister Shintaro Abe is in Washington for talks with President Ronald Reagan and other US leaders centring on Japan's near US$5O billion trade surplus with America. Japanese embassy officials described Mr Abe's meeting with Mr Reagan yesterday as a
      AFP  -  252 words
    • 630 3 Moscow must be induced to stay at the negotiating table NYT AMERICAN Defence Secretary Caspar Weinberger has said that without continued increases in US military spending, the Soviet Union would lose interest in an arms control agreement. In a speech that an aide described as his
      NYT  -  630 words
    • 258 3 Reuter AMERICAN Defence Secretary Caspar Weinberger said the Soviet Union had deployed 45 SS-25 intercontinental ballistic missiles in violation of the Salt-2 nuclear arms pact. His statement, in a speech on Thursday at the Carnegie Endowment for World Peace, followed published reports that he had
      Reuter  -  258 words
    • 878 3 ARRIVALS Operator Service Local From number time OA OA47I 0030 ATH SIA SQH 0125 LAX/TYO CAL CI333 0130 TPE PAA PA21/5 0155 LAX/TYO/HKG SIA SQ4I 0615 MAA MK MK746 0755 MRU MAS MH68I 0820 KUL CV CV796 0845 LUX/DXB KAL KE624 0850 KUL MAS MH603 0905 KUL
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    • 135 3 NYT THE CHAIRMAN of the US House Government Operations Committee has disputed President Reagan's description of a national security directive he signed authorising the increased use of polygraph, or lie-detector, tests for federal employees. Jack Brooks made his criticisms on Wednesday after Mr Reagan commented on the
      NYT  -  135 words
    • 263 3 UPI THE US Justice Department said a proposed Senate bill to bar foreign countries from recovering art and archaeological works will turn the US into a "pirates cove" for art thieves. The State Department and US Information Agency joined in opposing the bill, but two
      UPI  -  263 words
    • 306 3 Reuter MORE THAN 600 balloons carrying the slogan "Keep Sunday Special" were released from the heart of London on Thursday to launch a concerted campaign against plans to let shops open freely on the Christian Sabbath. Church leaders, trade unionists, major retailers and
      Reuter  -  306 words
  • Page 3 Miscellaneous
    • 53 3 Doonesbury AND IN FRONT OF THE VANITY ARB HUGE INDUSTRIAL SPRINGS FOR PEOPLE ID SIT ON AND THE: GIANT HOT DOG IS FILLED IAIITHSTi ROFOAM I m m Cv. m r» m m BY GARRY TRUDEAU IS HE PART OF THE CONCEPT, TOO 2 POSSIBLY HES JUST AUDITIONING. UJHATDO YOU
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  • WORLD BACKGROUND
    • 895 4  -  By PETER RIDDELL FT IN RESIGNING as Defence Secretary over the Westland helicopter rescue affair, Mr Michael Heseltine has launched a powerful challenge to the way Mrs Margaret Thatcher runs her administration. After Mr Haseltine's dramatic walk-out from the Cabinet room on Thursday, Mrs Thatcher
      FT  -  895 words
    • 407 4 NYT WESTLAND PLC, Britain's faltering helicopter maker, hardly seems to be worth fighting over. The company lost £95.3 million, or US$l37 million, last year, and is short of orders to keep its plants running. When Sir John Cuckney, the company's chairman, was brought in
      NYT  -  407 words
    • 602 4 EUROPEAN rejection of President Reagan's Libyan boycott call has highlighted worries that tough US policies could increase Middle East tension and harm European interests. None of the European Community's 12 nations has accepted Reagan's appeal to ostracise Libya, which he blames for last
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  • RAW MATERIALS
    • 13 4 KL TIN Closing prices on Jon 10 (M$/kg) Price Suspended Turnover (tonnes) Suspended
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    • 189 4 SINGAPORE THE MARKET yesterday closed higher with February One RSS buyers quoted at 155.25 cents per kilo, up one cent from Thursday. MALAYSIA Further covering helped the market to close steady at 180.00 cents per kilo for Feb Int One RSS buyers, up 1.50 cents from Thursday's close. Physical
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    • 341 4 RAS prices in S cents/kg, FOB in bales NOON CLOSE Buyers Sellers Buyers Sellers Int 1 RSS Prompt 154 00 155 OON 154 00 155 OON Int 1 RSS Feb 86 155 50 155 75 155 25 155 75 Int 1 RSS Mor 86 155 50 155
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    • 169 4 MALAYSIAN crude palm oil prices yesterday closed off the day's lows on late covering, after early levels were depressed by weaker Chicago soy oil futures. Jan deliveries in the south and central regions fell Mslo to $700 and $692.50 per tonne respectively, while Feb south dropped $20 to
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    • 176 4 WHEAT FUTURES on Thursday closed 2'« US cents a bushel higher in March at US$3.35 1 while May ended unchanged. March finished near the top of a five cent range. The recovery in soybean prices sparked sympathetic short-covering in the wheat pit, pushing prices to the day's highs late,
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    • 188 4 SOYBEAN FUTURES on Thursday recovered from sharp declines to close barely changed on the Chicago Board of Trade, with prices ranging from unchanged to down two US cents a bushel March ended near the top of a 12' i cent range Although the March contract penetrated key supi>nrt at
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    • 144 4 Chinese Produce Exchange Sellers' noon closing prices on Jon 10 (SJ/100 kg) Coconut oil Bulk FOB 7000 Old drum FOB 83 00 New drum FOB 87 00 Copra 35 Mixed (loose) buyers Pepper Muntok White FOB NLW 1450 Sarawak White 1440 FOB faq NLW Sarawak special 932.50 block
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    • 167 4 Singapore (S$/kilo, ei-godown) Fragrant new crop 1st 0 73 2nd 0 55 3rd 0 55 New Crop 25% no stock 10% no stock Thai Broken A-super no stock Special 0 46 Thai Rice 55% no stock China Rice 10% no stock 15% 0 67 25% no stock 35% no
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    • 106 4 (cents/kg, 1-ton pallets) pgg MAR 86 (current month) (forward month) RAS NOON NOON Buyers Sellers Buyers Sellers SSR 20 151 50 153 SON 152 00 154 OON SSR 50 149 50 151 SON 150 00 152 OON MRELB Buyers Sellers Buyers Sellers SMR CV 213 50 215
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    • 1060 4 COFFEE CONTINUED speculative long liquidation and profit-taking following a sharply easier New York market on Thursday afternoon pressured robusta coffee futures, which ended a depressed but volatile day £175 to £151 a tonne down from Wednesday night in active business. The market lifted marginally off morning lows in
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  • Page 4 Advertisements

  • MONEY AND EXCHANGES
    • 744 5 SINGAPORE THE US dollar yesterday closed narrowly mixed against major currencies in thin and nervous trading, with the market overshadowed by rumours over possible Arab liquidation of US assets in retaliation against Washington's move to freeze Libyan assets in the US. It closed higher at 201.75/85 yen compared
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    • 72 5 THE OVERNIGHT rate on the Singapore interbank money market remianed unchanged from Thursday to end at 4 1 2 per cent yesterday. The one-month term rate fell by 3/16 while the two- and three-month rates remained unchanged. S$ Interbank rates ot 3pm yesterday: Offer Bid Over night 4
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    • 78 5 RESULTS OF TENDER held on Jan 10 for 91-day Treasury bills to be issued from Jan 13 to Jan 17, 1986 Offered: $100,000,000. Applied for: $101,000,000. Allotted: $100,000,000. Accepted bids: $99.26 approximately 99 per cent; higher bids in full. Average rate of discount on allotment: 2 970 per
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    • 254 5 Interbank rates at 3pm on Monday: Currencies Nominal ratM Smithsonian Bid Otter croat parity change Local dollors to one unit of foreign currency. US dollar 2 1170 2 1 180 ***** -24 92 Sterling pound ***** 3 0965 7 3469 -57 90 Australian dollar 1 4681 1 4709
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    • 377 5 BA Futures MARCH Eur*d«Uar yesterday opened unchanged from IMM's close at 91.92 and traded narrowly between 91.89 to 91.91 for the greater part of the session. After the sharp decline during the last two days, market has slight upward bias due to the oversold situation. However, traders were cautious
      BA Futures  -  377 words
    • 220 5 HONGKONG: GOLD yesterday closed firmer in fairly active trading reflecting the US dollar's weakness. It ended at U*****.90/ 339.30 an ounce compared with New York's 337.90/338.40 close. On the local market gold rose HK$52 to close at $3,141 a tael. Krugerrand added $40 to close at $2,645, or U*****.80.
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    • Article, Illustration
      381 5 Asian market ASIAN DOLLAR deposit rates yesterday closed steady to firmer compared with Thursday's levels, in light trading. One and three months closed at B'/« B'/g per cent, both up 8 point from the previous close, six months at B'/« B'/«, up 1/16 and one year at 8-5/16 8-3/16, up
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  • BANKING AND FINANCE
    • 418 5 NYT CHEMICAL NEW YORK, the sixth largest banking group in the US. has said that fourth quarter net earnings fell by 7.5 per cent in part reflecting substantially higher loan loss provisions and net loan charge-offs. However, in spite of the year-on-year decline in final
      NYT  -  418 words
    • 52 5 UNITED OVERSEAS Bank will cut its savings deposit rate by a quarter percentage point to 4.75 per cent from Monday. The bank's lending and fixed deposit rates remain unchanged. Earlier this week, two other local banks, DBS Bank and Overseas Union Bank reduced their savings
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    • 557 5 THE CHICAGO Mercantile Exchange has chosen Tokyo as the site for its second overseas office, with plans to have it opened and staffed before the end of the year. In its first meeting of the new year, the CME board of governors overwhelmingly
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    • 511 5 NYT AMERICA'S biggest banks have frozen hundreds of millions of dollars in Libyan government deposits, carrying out President Reagan's executive order. Although the president's directive left questions, bankers in the country said they were able to put through the basic elements of a
      NYT  -  511 words
    • 333 5 Reuter BRAZIL HAS RECEIVED indications of approval from the International Monetary Fund about its economic plans for this year. Brazilian Finance Minister Dilson Funaro, meeting reporters following discussions with IMF managing director Jacques De Larosiere on Thursday night, said: "He likes it and
      Reuter  -  333 words
    • 267 5 FT THE SWEDISH government on Thursday approved applications from 13 foreign banks to establish subsidiaries in the country. Sweden is almost the last country in the Organisation for Economic Cooperation and Development (OECD) apart from New Zealand and Iceland to allow foreign bank operations. Twelve
      FT  -  267 words
    • 199 5 AFP THE REAGAN administration wants to auction off some loans that borrowers have failed to repay the government, officials disclosed. Selling these bad loans to private bill collectors is one of the expedients contemplated in order to submit the 1987 budget to Congress
      AFP  -  199 words
    • 90 5 AFP THE BASIC US M-1 money supply dropped by US$3.l billion during the week ending Dec 30, the Federal Reserve system has announced. The fall follows a sharp increase of $5.3 billion in the previous week. M-1 averaged $624.7 billion during the most recent week,
      AFP  -  90 words
    • 354 5 FT. Reuter FINANCE MINISTERS from the five leading industrialised countries will meet in London in about 10 days' time. This will be their first known session since the New York agreement of last September which has led to substantial currency realignment. There
      FT.; Reuter  -  354 words

  • TIME-OFF
    • 491 6 PORNOGRAPHY is one thing. Serious matters such as how or why you should take part in politics or join a trade union is another. It is difficult to find any affinity between the two, but leaders of Japanese trade unions, concerned that less than 30 per cent
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    • 913 6  -  TOYOTA has introduced the MR2, a sports car that will leave you gaping in admiration at the engineering wonders contained under the bonnet, reports JEFFERY TSANG. Its engine is very responsive, and though its torque is quite modest, it pulls willingly. This, coupled with the superb timbre, makes
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    • 1100 6 What's on from Jan 11-17 i," •'> %,'je EXHIBITIONS: Singapore Art Past and Praaant. National Museum Art Gallery. 9am-5.30pm. Admission free. The exhibition will highlight works in the National Museum Permanent Collection. Ends Jan 26. Pawtar In South-eaat Aaia. National Museum Art Gallery 9am-5.30pm. Free. Over 160 exhibits on
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    • 119 6 THE GIANT KITE (above) is one of the attractions in this year's kite festival. The festival starts today with participants from 11 countries, including the US, Japan, Australia, Canada and France. The Fifth Singapore Kite Festival starts with the preliminary judging of the kitemaking competition between 2pm and
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    • 270 6 WHILE Singapore's Monkey God was parading down the streets of Pasedena and across American television screens in the Tournament of Roses, Soviet leader Mikhail Gorbachev was sending New Year greetings to Americans via satellite television. President Reagan's New Year message to the Soviets was also broadcast
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  • Page 6 Miscellaneous
    • 832 6 a m w mm m m mm M. I■■ r>. B ■■I dill Mlllllll CRYPTIC PUZZLE ACROSS 9 He got o cart that was faulty and he came to grief (9) 10 In little time, does it show one's not altogether right (4. I, 4) 12 Pop round to see
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  • SPORTS
    • 489 7  -  Mohamad Ali and Dominic Tan also in the hunt By WALTON MORAIS IF PAST RECORDS are a criterion, then Solomon George must start as favourite in Changi's Gold Medal championship tomorrow. The eight handicapper has picked up the Overall Best Gross title three
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    • 459 7 AP CALVIN PEETE finished with three consecutive birdies for a round of 67 that lifted him into a three-way tie for the lead after the second round on Thursday of the US$5OO,OOO Mony tournament of champions. "That was very exciting,"
      AP  -  459 words
    • 332 7 AP STEFAN EDBERG, playing at the top of his game, defeated John McEnroe for the first time in the third round of the US$5OO,OOO AT T challenge tennis tournament. The 6-3, 7-6 victory on Thursday put Edberg of Sweden into Friday's semi-finals, along
      AP  -  332 words
    • 484 7  -  By BRIAN MILLER IT WAS AT EPOH at this time last year that Nick Connorton stung the fraternity by bagging nine winners over the four days of racing. Well, the young English jockey is back here on a busman's holiday and with mounts
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    • 204 7  -  By DAVID GABRIEL A 16-MAN hockey team from Britain's only private university, the University of Buckingham, which is on a tour of Malaysia and Singapore, arrived in the Republic this week to a wet reception. Both matches on their schedule, against the National
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    • 661 7 AP A DECADE AGO, Martina Navratilova decided that she was going to sacrifice everything, including food, in order to become the best female tennis player in the world. Once she realised her goal, she found out that it takes even more work to stay
      AP  -  661 words
    • 238 7 Reuter WORLD CHAMPION Martina Navratilova dispatched 15-year-old Susan Sloane in just 46 minutes in a US$l5O,OOO woman's tennis tournament on Thursday, but the 6-3, 6-3 loss was the highlight of the American teenager's fledgling career. Just being on the same court with Navratilova was
      Reuter  -  238 words
  • Page 7 Miscellaneous
    • 1050 7 w to oaiixiq SATURDAY NIGHT MOVIE Threesome 11.20 pm, Channel 5 The underlying lesson in this movie seems to be, "trust your best friend with your life, but not with your girlfriend". Stephen Collins (left) is a stock-broker who lends best friend Joel Higgins a hand when the latter arrives
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    • 36 7 I BriStov: F«anJd)Lcte£ NO NCffiC£ u> V4AT' s tcr\ Vzr He s SULK ,f4G loitm Him "> J c~ "> W&Si Me thinks MC SHOULD nwe B CMOSeK Tne OLVnr\P«CS... S _>>>•<* A /3>-~ c > V ut v V-
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  • INTERNATIONAL STOCKS
    • 312 8 FT THE London Stock Exchange is to launch a £2million publicity campaign to boost its image during the forthcoming restructuring of London's securities markets and the parallel reform of the regulatory framework outlined by the government's new Financial Services Bill. It was officially
      FT  -  312 words
    • 156 8 Reuter HANSON TRUST PLC has reached a merger agreement and a settlement of its dispute with SCM Corp. The company said under the agreement, five of its representatives have been named to the SCM board and Hanson will move promptly to effect a cash
      Reuter  -  156 words
    • 321 8 Reuter THE US STOCK MARKET on Thursday continued its sharp descent, but avoided a more disastrous loss in a late buying binge centred on blue chip stocks. The Dow Jones Industrial Average closed nine points lower at 1,518, after falling to a low
      Reuter  -  321 words
    • 177 8 JAN 09 Abitto c$ 15* 40S k ,Vj Imp CM Inco Int Pro* Pipe Int Ufs 50* 18* 42* 20S •1* Algoma Argoen Hdgs Bank Mont 19* 32* -H -H Kerr Add LoMaw B Masse y Ferg 16* 22* 3 unch unch Bank Nova Scotia B«ll Canada 0P Coo
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    • 285 8 JAN 09 loud Umsec Woolworth 655 1375 -10 25 INDUSTRIALS MININGS A Alpha Abercom AE And CI 1035 220 950 515 -15 unch unch Anglos Anglvaal Blyyoors 4050 unch *****8 unch 1640 25 3800 1500 unch 20 Buffets Charter 8700 970 50 40 c"? Smith i Cons GokJ 2250
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    • 692 8 JAN 09 US$ Ak on Akiman 29 unch Alcoo 38V unch Aiegheny Lud 18% V Afced Chem Cp 46V Afced Stores 66% -1 Alis-Chalmers 4H -V Am Brooch Inc 63*. -1% Am Broadcast Am Can Co 61V Am Cyonomd 55 Am Etec Pwr 23 Am Express 52«* Am
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    • 814 8 Amsterdam JAN 09 n> ABN 593 00 10 Aegon ***** 22 Aho»d ao oo -4 5 Akzo 152 50 -3 9 AMEV 93 50 07 Amtos Amro Bonk 114 50 -1 5 Berkel 35 10 57 Boh Bonumq 536 00 60 Bosk alis Bur Tet 137 bO +2
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    • 77 8 Reuter CONTINUED improvement in Royal Bank of Canada's loan portfolio will be the single most important factor in higher earnings for Canada's largest bank, President Allan Taylor said after the annual meeting. Royal Bank's credit rating was cut a notch to double A in September by
      Reuter  -  77 words
  • Page 8 Advertisements
    • 236 8 T—m mm w m L. 73S!aSF»&t f bJ-' j£2n rnmzm w*?m> w n fT if m m pf «s s 2> v iy Take the family out to 'terma for lunch this Sunday Because a full buffet spread of 23 delicious local specialities awaits you' From salads and cold appetizers
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    • 152 8 International Buffet Fashion Fare At: $10.50* ONLY J .W? r' ¥4 r ft V 7 FERS TREE CAFE The Fare: Besides .i sumptuous international huftet, come and savour our air-flown oysters from New Zealand at $1.25* per piece. Daily from 11.30 am to 2. iOpm. The Fashion: A delicious romp
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    • 119 8 tu HUANG PAIA f" A*Z WiZm c Lunch Ham to 2 30pm daily Sundays and Public Holidavs Bam to 2 30pm m mvm» mrf <*r tvou* 1 riv/ r»ci oUerfinWotef 181. Kitchener Road. Singapore 0820 Tel *****22 an U**^ Ves«*"*"o W- 50 r's Roof" 5 1 ,\IW.N Sev oC roff*
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    • 98 8 t \f n a Spring Palace Chinese Restaurant Superb Cantonese cuisine from our Hong Kong chefs to please the most discriminating gourmet. Special business lunch at $16 each and $20 each (min. 2 persons). Over 50 a la carte specialities are also available FURAMA SINGAPORE HOTEL 10 Eu Tong Sen
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    • 85 8 \.,]@|/=.+[}!'`@>_:~^"};~@||"~_ r y. s AND THE PERFECT COMBINATION KURUMAYA JAPANESE RESTAURANT Set lunch daily from $800 Sushi Bar Happy Hours Enjoy unlimited sushi every Tuesday and Friday from 600 p.m. to 730 p.m. at only $50 per person (includes 1 free beer/sake or soft drink) Weekend Family Special (Sat. Sun
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  • ASIAN STOCKS
    • 449 9 HONGKONG: Share prices yesterday closed higher in moderate trading in the absence of fresh factors. Brokers said there was scant buying interest following the sharp drop on Thursday in sympathy with the decline on Wall Street. Investors tended to adopt a wait-and-see attitude and stay on the sidelines. The
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    • 271 9 JAN 10 NT Lien H*»a Indus Non Ya Ptos 12 90 31 70 0 05 unch All Sincere Indus 2 46 0 02 Pocrfic Coos 1900 04 Asia Cement 25 50 0 1 Pootic Elect Cathoy Cons 30 20 03 Wire 1400 0 1 Chong Hwa Bank 44 00
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    • 442 9 TOKYO: Prices yesterday eased in moderate trading as investors remained cautious after Wall Street's continued softness and easiness in European markets. The market average lost 35.98 to 12,998.21 on 300 million shares after falling 22.23 on Thursday on volume of 360 million. Dealers said the upcoming holidays also sapped
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    • 91 9 JAN 10 Peso* Oriental B Ph4ex B 0013 0 15 LOCh unch AcO|* Mining Pkop B Anglo Phil 0 001 unch PI.D1 Apex Mining B A Mas Con B 0009 II -0 0005 unch Podco B Pogei 37 50 0 5 Boguto Gold 0001 unch Basic Petroleum 0 0028
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    • 483 9 SYDNEY: Share markets yester- day closed barely steady as prof-it-taking in industrial stocks counteracted gains in mining and gold shares. Near the close, the All Ordinaries Index had risen 0.2 points to 1044.1, the All Industrials had fallen 2.3 to 1538.1 and the All Resources Index had gained 1.9
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    • 96 9 JAN 10 Won Hyundoi Const 1060 -1 89 Hyundoi Motor 2081 Bonk S«oul 670 19 KAL 548 3 Choheung Bk 639 -1 Korea First 690 *9 Commercial Bk 670 -1 Yukong Korea Ship 1870 -30 Doelim Ind 500 -10 361 2 Doe~oo Carp 466 9 Lucky Ltd 721 2
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    • 159 9 BANGKOK: The Securities Exchange of Thailand Index advanced in four of the five trading sessions and ended the week 2.10 points higher on balance at 135.68. JAN 10 ■afcts Sram Citizen 63 50 unch A ok horn Thoi Skxti City Awo Fibre 105 >2 Cement 434 unch Ayuthoyo Inv
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    • 57 9 Reuter CABLE AND WIRELESS (Hongkong) Ltd has sold Old Mercury House in the central business district of Hongkong for HK$l55 million to the GGS group of Japan. No other details were available. The company offered the 657 sq m building for sale by tender in
      Reuter  -  57 words
    • 463 9 AP THE WORLD'S biggest hotel chain formally entered the China market on Thursday when the Lido Hotel, a China-Hongkong joint venture on the road to Beijing airport, was renamed the Holiday Inn Lido Beijing "Today marks the entry of the world's largest hotel
      AP  -  463 words
    • 377 9 Reuter THE BROKEN HILL Pty Co Ltd (BHP) took legal action on Thursday to restrain Melbourne sharebroker Potter Partners from advising Bell Resources Ltd or any other company associated with Robert Holmes a Court in respect to BHP. In a writ and summons filed in
      Reuter  -  377 words
  • Page 9 Advertisements
    • 132 9 c For delightful dinners with pcpular local flavours. Enjoy dinner with popular local flavours. Our "Singapore Delights" Buffet is packed with mouthwatering favourites that will definitely get your appetite going Buffet Dinner is at S$H 00+ per person The Luna Coffee House. We've got a variety of delights to fill
      132 words
    • 117 9 Black Velvet Gold sizzling night spot in the very heart of town Where laser light effects and foot fluttering numbers will make you want to boogie all night long Black Velvet Goia Your ultimate destination for a groovin' gooa time No cover charge during the first hour Sunday through Friday.
      117 words
    • 175 9 m PH m m Cofiee \House Level 5. Peninsula Hotel i < 4 V A 24 Hours of gourmet delights Daily Set Lunch (Local Western) Every Tuesday Thursday (3pm to 6pm) Grand High Tea (with wide selection of snacks) $5 00 South-East Asia Buffet Lunch Every Saturday of Jan. <
      175 words
    • 192 9 DELICIOUSLY HYATT PLUM'S Plum's! Spacious, spread out and contemporary. You'll find the best of K )cal and western cuisine there's also a buffet station with an excellent assc >rtment <)f (Chinese. Indian and Malay dishes. Plus a delightful children's Menu. And don't miss dessert it's ice cream gak >rc! HYATT
      192 words
    • 128 9 Life after five... 2 Live Bands Nightly! spm 1 am (Monday Friday Sunday) spm 2am (Sat eve of public holiday) HAPPY HOURS spm 7pm (Daily) It's a real happy time! Just buy a drink and get the second FREE. Y FREE DIAN XIN MU every mgnt.^^' MiKXMtii mh!worn (CAIRNHILL HOTEL)
      128 words

  • SHARE INFORMATION
    • 4584 10 SHARE PRICES closed mixed to easier after sporadic bargain hunting and short-covering activities in the afternoon helped to check the morning slide. Reports of Lin Securities's refusal to pay for a forward contract and Mr Tan Koon Swan's financial obligations to troubled Ka Wah
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    • 282 10 SINGAPORE Rises Indices Jon 9 Jon 10 Roiy Elect 280 20 BT Composite 553 06 552 15 CoMsbeig M T C '8« 450 14 BT Indicotor *****54 *****29 360 10 BT OB/OS 212 +232 Kkhi Joe 50< 230 10 BT Cadi 6329 6366 DBS 498 8 BT
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    • 3527 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "SETT"
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  • Page 10 Advertisements

  • COMPANY NEWS
    • 241 11  -  sopr PfjpGJi? By HOCK LOCK SIEW NOT A BAD WAY to start the new year for this column. Last week, I did the first chart reading for 1986 with Cerebos Pacific Ltd, which was trading at $1.80. It was said that the stock was oversold
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    • 301 11  -  By AMY CHEOK SEALION HOTELS, the owner of Hyatt Regency in Scotts Road, is divesting a large chunk of its shares for $8.5 million in wholly-owned subsidiary Sealion Investments Pte Ltd (SIPL). Yesterday, Sealion announced that it had agreed to sell 85
      301 words
    • 468 11 AFTER SPENDING more than a month weighing its options, Unico Holdings Bhd has decided to go ahead with its plan to buy a major stake in Grand United Holdings (GUH) from Mr Tan Koon Swan. Unico chairman Tan Sri Wee Boon
      468 words
    • 397 11  -  By RAMESH CHANDIRAMANI AT A TIME when many companies are hard put even to maintain a steady level of profitability, Malaysian Tobacco Company Bhd has managed to post record profits for the 1985 fiscal year. The leading cigarette maker reported that its group pre-tax
      397 words
    • 180 11 CHUAN HUP MARINE has spent more than $1.5 million to raise its stakes in two of its more profitable companies. On Jan 9, Chuan Hup acquired a 30 per cent stake each in Lityan Systems (S) Pte Ltd (LSS) and Lityan Systems (M) Sdn Bhd (LSM),
      180 words
    • 142 11 HONGKONG LAND has sold its entire portfolio of so-called 'Letter B' land exchange entitlements to Sung Hung Kai Properties (SHKP) for HK$l56 million cash. The premier Hongkong property company stands to reap a handsome $107 million pre-tax profit from this sale, which will be accounted
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    • 282 11 Managers' prices for Jan 11 13 Singapore Unit Trust The Commerce 0 96 1 02 The Savings Fund 0 81 0 86 S'pore Prog Fund 0 39 0 42 S'pore Sec Fund 0 63 0 67 S'pore Invest Fund 0 50 0 53 S'pore Equity Fund 0 43
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    • 111 11 HONGKONG Thursday 1540 4 Hong Seng Index Week ago 1503 7 Friday 1807.94 NEW YORK Thursday 1798 51 Week ago 1791.23 Dow Jones Thursday 1518 23 TOKYO Wednesday 1526 61 Nikkei Average Week ago 1538 00 Fr.day ***** 21 Thursday *****.19 Stondard Poors Week ago Closed Thursday 206.11
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    • 756 11 THE MARKET yesterday opened mostly higher in a technical reaction to recent sharp falls as fears of an imminent further increase in UK interest rates faded. At 11am, the FT 30 Index was up 6.6 points at 1,112.7 and the FTSE 100 Index was up 6.6 points at
      756 words
    • 520 11 SHARE PRICES were traded slightly easier across the board on the Kuala Lumpur stock market yesterday as investors adopted a wait-and-see attitude. Speculatives, bluechips and lower liners were all not spared the brunt of the selling pressure, finishing moderately lower. However, a few counters
      520 words
    • 2841 11 BID and 'offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown In brackets in lots of 1.000 units unless otherwise specified INDUSTRIALS A Choc 2 348 2 365) (2) 2 36
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    • 77 11 MALAYAN CABLES Ber had: EGM at No 10 Jalar Tandang, Petaling Jaya. Selangor on Wednesday, Jan 15, at 11 am. KI ALA Ll MPl R Indus tries Berhad: EGM at 11th Floor. Wisma Lian Seng. 126 Jalan Bukit Bintang, ***** Kuala Lumpur on Jan 16 at 11 am.
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  • Page 11 Advertisements

  • YESTERDAY IN PARLIAMENT
    • 256 12 SINGAPORE'S publishing laws are to be amended to restrict the sale of foreign publications which do not provide balanced reporting. But circulation will be unrestricted so Singaporeans can still read what others said about them. The Minister of State (Community Development and
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    • 68 12 SHOPKEEPERS in public housing estates can appeal for compensation if their business is badly affected by MRT construction. The Minister for National Development, Mr Teh Cheang Wan, said the Housing and De- velopment Board was prepared to look into the cases of those "substantially" affected. For those
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    • 111 12  -  Parliamentary reports by FOO CHOY PENG, CHUANG PECK MING, CHAN OI CHEE, ANNA TEO PARLIAMENT will soon be prorogued after yesterday's unusually long sitting which ended at 9.10pm. The Leader of the House, Mr S Dhanabalan, moved for a sine die or indefinite adjournment of the
      111 words
    • 768 12  -  By CHAN OI CHEE FINANCE MINISTER Dr Richard Hu yesterday put into perspective "alarmist reports" that the Pan-Electric crisis would drive away foreign investors and lead to a collapse of the financial system. In a ministerial statement to Parliament yesterday, he pointed
      768 words
    • 160 12 SEVEN new judicial posts have been created and approved by the Ministry of Finance, said Professor S Jayakumar, the Minister for Home Affairs. And by the middle of the year, six new courts will be added, he said in reply to the MP
      160 words
    • 257 12 FINES RANGING from $20,000 to $200,000 and mandatory prison terms of up to five years these are the stiffer penalties facing bookmakers and people involved in running betting houses or operating betting information centres. These deterrents were introduced under the Betting (Amendment) Act passed yesterday. Professor
      257 words
  • 89 12 AP FOR THOSE WHO THINK they have seen enough of tilted architecture, here's one more to knock you off-balance. This three-storey house in Shizuoka city, 102 km west of Tokyo, looks as if it has been hit by a strong earthquake as it cowers
    AP  -  89 words
  • 407 12 FT TRADE BARRIERS in the European Community still make things difficult for companies trying to operate across national frontiers, 30 years after the common market was launched. Physical and technical barriers such as insisting on different colouring in toothpaste in different member
    FT  -  407 words
  • 70 12 JOAN SINGA REALTY Pte Ltd is not a part of Johan Singa Holdings Pte Ltd (formerly known as Joan Singa Holdings Pte Ltd), as reported in a BT article on Jan 6. Joan Singa Bullion and Joan Singa Development Pte Ltd also do not belong to the group.
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  • 292 12 A TARGET profit of $310 million for the year to March 1987 has been set for Singapore Airlines by its chairman, Mr J Y Pillay. In his New Year message published in SlA's newsletter Outlook, Mr Pillay said that would
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  • 66 12 Reuter COMEX GOLD FUTURES ran into profit-taking yesterday after an early rally stalled below Thursday's highs. Gold for February delivery held a good-sized gain of US$2.lO at $342.00 an ounce on the pullback from $343.00. The selling was not aggressive, with traders reluctant to rule out disinvestment of
    Reuter  -  66 words
  • 73 12 Reuter THE NEW YORK stock market turned higher yesterday in an early attempt to snap a disastrous two-day losing streak. The Dow Jones Industrial Average was up three at 1521. The average stood at 1571 in in-tra-session trading on Wednesday, before the record-setting sell-off began. On Thursday,
    Reuter  -  73 words
  • 176 12 Reuter BEIJING'S state-owned China International Trust Investment Corporation (Citic) will invest about US$3B million to take a majority holding in the troubled Ka Wah Bank of Hongkong Beijing bankers said yesterday that the Citic was approached by Ka Wah when
    Reuter  -  176 words
  • 272 12 AFP MEDICAL and social expenses for the first 10,000 Aids patients in the US come to more than US$6.3 billion, according to a first report on the economic impact of the disease published in Chicago yesterday. The writers say their aim
    AFP  -  272 words
  • 82 12 Reuter THE FORMER chairman of the collapsed Carrian property group and his chief deputy yesterday pleaded not guilty to charges of conspiracy to defraud shareholder s and creditors. George Tan and aide Bent ley Ho entered the pleas in the Hongkong court on charges linked
    Reuter  -  82 words
  • LATE FILE
    • 44 12 Reuter CREDITORS of Uniworld Shipping Ltd have accepted a debt repayment plan under which they will receive about HK$3 million, or 10 per cent of claims of about $30 million. Accountants Ferrier Hodgson and Marfan said court approval is required.
      Reuter  -  44 words
    • 47 12 Reuter THE Taiwanese government will take a 49 per cent capital stake in a US$2OO-million electronics plant to boost the country's sagging electronics exports. A government spokesman said the plant would make very large scale integrated circuits used in the computer industry.
      Reuter  -  47 words
    • 60 12 AFP THE Hongkong government plans to consider promoting a Hongkong Chinese to head the police force before the colony reverts to Chinese sovereignty in 1997. Sources said yesterday a proposal that such a move be implemented by 1995 was put forward in a report prepared
      AFP  -  60 words
    • 57 12 AP THE director-general of the China's Civil Aviation Administration has acknowledged that the state-run airline carrier has problems with poor service and delayed flights, but said steps are being taken to eliminate the problems. Hu Yizhou said employees were being urged to provide prompt and clear
      AP  -  57 words
    • 30 12 UPI SOVIET authorities allowed 92 Jewish nationals to emigrate last December, bringing to 1,141 the total for 1965, the Intergovernmental Committee for Migration reported yesterday. UPI
      UPI  -  30 words
    • 50 12 AP TAIWANESE and Malaysian companies agreed yesterday to build a Ms32-million steel mill in Kuching, the capital of Malaysia's Sarawak state. Bernama news agency reported the agreement was signed in Kuching between Yao Teh Enterprise Ltd of Taiwan and the Sarawak Economic Development Corporation. AP
      AP  -  50 words
    • 33 12 AP WHOLESALE prices in the US rose a modest 1.8 per cent in 1985, giving the nation its lowest three-year inflation rate in 20 years, the government said yesterday.
      AP  -  33 words
    • 38 12 AFP SAUDI ARABIA has carried out a two-thirds cut in its crude oil stocks on board tankers. Shipping executives said yesterday the stocks had been reduced from nine million to 2.6 million tons.
      AFP  -  38 words
    • 52 12 AFP US AUTHORITIES have tightened security along the US-Canadian border following the arrival of a group of Libyans in Toronto. The Buffalo News newspaper said yesterday that US officials were keeping watch on a group of 19 Libyans who arrived at Toronto's Pearson Airport on
      AFP  -  52 words
    • 38 12 UPI THE delay-plagued shuttle Columbia and its frustrated crew were grounded again yesterday for an unprecedented sixth time because of a non-stop deluge of rain and low clouds over the spaceport. UPI
      UPI  -  38 words
  • Page 12 Advertisements
    • 55 12 every PROFESSIONAL manager is eligible for Membership of Institute of ional Manaa Assoel»i« TIXTOWH, type'. 'crenipProvisional iagement sttidMfs ano trainees (PMinsiPM> iK For full informant and Membe'sWp Application Form write to or telep»>©-ie ■ZSi THE SECRETARY, MEMBERSHIP BOARD, X' INSTITUTE OF PROFESSIONAL MANAGERS, BEL AIR HOUSE, P.O. BOX 41S, JERSEY,
      55 words
  • Page 12 Miscellaneous
    • 57 12 Outlook for todoy: Windy and overcast, with frequent showers and rain, at times heavy. Report tor 24 hours prior to 7 30pm on Jan 10 at the airport Maximum temperature 26.3 Associated humidity 84 Minimum temperature 23.0 Associated humidity 94 Hours of sunshine 0.00 Rainfall in millimetres 72.6 Ramfoll this
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