The Business Times, 17 May 1986

Total Pages: 12
1 12 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 192/12/85 SATURDAY, MAY 17, lttl 75 CENTS
    12 words
  • 382 1 JAPAN'S Long-Term Credit Bank (LTCB), which has maintained a presence in Singapore for the past 11 years, has opened a merchant bank here. LTCB Merchant Bank (Singapore), with a paid-up capital of $4.5 million, is a joint venture between Long-Term Credit Bank (96
    382 words
  • 97 1 AP ALL. SHIPS that call at Soviet and East European ports after the Chernobyl nuclear accident will be checked (or radiation when they arrive in Malaysia. The director of Health Services said yesterday that the health department would not make radiation tests on food-
    AP  -  97 words
  • 488 1  -  By ELAINE KOH THE UNITED OVERSEAS Bank has filed a winding-up petition against a company in the Goldhill group, Hok Lok Siu Pte Ltd, for debts of about $11 million. This is the second action taken by UOB against the Goldhill
    488 words
  • 514 1  -  4,000 workers expected to be needed in the next six months By LUCY NG THERE IS growing concern that the need to fill at least 4,000 vacancies expected to open up in the electronics sector over the next six months will lead
    514 words
  • 343 1  -  By CHAN OI CHEE THE FUTURE of City Securities will be clearer on Monday when its 20-odd creditor banks meet to decide whether to give the troubled stock broking firm more time to settle its financial problems. If the
    343 words
  • Article, Illustration
    71 1 PROFIT-TAKING dm- Kit» jeitortey, e»uli| riMtfv prtccs t# fiilik l«wer f#r Ike >w«i ewMitn 4ay. Ike Straits Time* latortrtel bias feU 4J7 palate to SSS.SS, Ite drat tell ta May. lie >11 eeetor BT Cempealte Mez etoeed betew Ike li mrk after iteylT ■M^ t 4MJ^iew^Ttt p#ists ycctenUty
    71 words
  • 222 1 AP THE STRENGTH of the yen has affected adversely Japanese ex-port-oriented small- and medi-um-sized companies, although the number of bankruptcies last year fell from the previous year. The Ministry of International Trade Industry's (Miti) annual report on smaller enterprises said
    AP  -  222 words
  • 185 1 AFP THE NUMBER of Japanese making overseas trips hit a record 4.95 million in fiscal 1965, up 6 per cent from a year earlier and contributing to a cut in Japan's international balance of payments by about US$3.7 billion, an annual government report said yesterday.
    AFP  -  185 words
  • 120 1 AP INDONESIAN Foreign Minister Mochtar Kusumaatmadja sakl yesterday Indonesia's relations with Australia remained strong in spite of a recent dispute over a Sydney newspaper article accusing President Suharto and his family of corruption. "Basically, the relations remain good but not as warm as they used
    AP  -  120 words
  • Page 1 Advertisements
    • 137 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM A WHOLE WORLD OF OPPORTUNITIES At Banque Indosuez, we've been serving Singapore as far back as 1905. Our office is part of a vast Asian and Australasian network spread over 18 countries including among others, New Zealand, Australia, Papua New Guinea, Japan, Korea, China,
      137 words
    • 218 1 SHIPS IN PORT TV RADIO I* OUR VIEW THE TAXMAN COMETH, particularly in Zimbabwe where the government is demanding millions of dollars in back payments from small businessmen who were once encouraged to withhold taxes to help bring the present government to power. It seems unfair, to say the least,
      218 words
    • 36 1 &._/?']?|]\;.-]]?`{~!%{<_%`&:") mm pure uui imma< i i Li i t 11 Mli. cpt ii >11 ot time. I I lic hii th *>t a ;n'\v c SS, < v' > S V r <i > fy V ►7 A A
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    • 5 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC
      5 words

  • HOME NEWS
    • 414 2  -  By SHAHRIR ARIFF TWO MORE JOBS, worth $25 million, have been awarded to Singapore shipbuilders. Sembawang Engineering, a subsidiary of Sembawang Group, has won a turnkey project from the Oil and Natural Gas Commission (ONGC) of India to build two helicopter decks for ONGC's Bombay
      414 words
    • 322 2 EVERYONE LOVES World Cup matches. BT is no exception. Our favourite is the game between Spain and Sweden in 1978 because our reproduction of a colour shot of the action has made us a winner of one of the top awards in Kodak's 'Run
      322 words
    • 139 2 US COMPUTER maker Sperry has presented its U*****,200 artificial intelligence award (AI) for 1966 to the National University of Singapore. The NUS won the award amid keen competition from other universities in Europe, Asia and Australia. It includes a Sperry AI computer, the TI Explorer,
      139 words
    • 79 2 THE 1986 "Year of the Tiger" $10 silver proof coins will be on sale at the Havelock Community Centre between 9am and 3.30pm from May 26 at $40 each. The Board of Commissioners of Currency said the production of this legal tender proof coin was limited to 20,000
      79 words
    • 352 2 MAJOR OIL companies and banks yesterday were subjected to strong criticism by Mr Fergus Healy, an oil industry consultant based in Singapore. Mr Healy, who was formerly regional vice-president for the Asia Pacific for Compagnie D'Expertises Maritime (COMEX) and a chief development engineer for
      352 words
    • 250 2 THE SURGE in offshore oil exploration in China since 1979 has resulted in some significant discoveries, but China expects to wield its new found energy wealth only in the *****. Although Chinese offshore oil exploration began in the late 1950s it
      250 words
    • 205 2  -  By MARTIN SOONG SOME SEVEN MONTHS after the launch of its membership drive, the National Trades Union Congress has more than met its target of 200,000 members. By May 14, the latest count, union membership stood at 200,131 the first time since 1962 that it has
      205 words
    • 418 2 ESSENTIAL MAINTENANCE services for all Housing A Development Board flats will be computerised by next year to reduce delays and to improve information to the public. The project will cost more than $500,000. A pilot scheme linking the area offices and the HDB's Essential Maintenance Service
      418 words
    • 315 2 PEOPLE'S ACTION PARTY should make itself visible all round the year, Acting Minister for Community Development Wong Kan Seng told party activists recently. The latest issue of Petir, a PAP publication, quoted Mr Wong as saying that the party should organise more activities to
      315 words
    • 201 2 A BUS DRIVER, a hawker, and a breadseller were among 96 members appointed recently as cadres of the People's Action Party. The confirmation of the new cadres was made in a ceremony reviewed by First Deputy Prime Minister Goh Chok Tong at the PAP
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    • 81 2 UNITED AIRLINES has chosen Singapore as its primary base for future recruitment of flight attendants on its Asian routes. This was announced by Mr Arthur Wee, United's Singapore manager, at a dedication ceremony for 18 flight attendants at the Hyatt Hotel recently. Mr Wee cited fluency in
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    • 46 2 FOUR FINAL-YEAR Singapore Polytechnic marine engineering students received the 1966 Esso marine scholarships yesterday. Each scholarship is worth $1,500 and does not carry a bond. The awards were given to Messrs Khor Koa Kiang, Lee Lai Woh, Lim Chai Yen and Tan Choon Chye.
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    • 731 2 AT CONVENTIONAL WHARVES Vessel Berth Agent Arrival Departure KEPPEL WHARVES Barber Texas K9 Barber alongside 17.5.86/1500 Pac Samudra K21 POL alongside 17.5.86/1500 Sondershausen K11 S'pore Shp alongside 17.5.86/2300 Stor Glory K32 Yuho alongside 17.5.86/0600 Tarokan K12 New Str alongside 17.5.86/2000 Bum Sim K30 Sharp 17.5 86/2200 18.5.86/0600
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  • OVERSEAS
    • 478 3 Reuter THE EUROPEAN Community (EC) is likely to retaliate with similar measures to sanctions imposed by the US on Thursday in an escalating trade row between Washington and the 12-na-tion European group. EC diplomats, saying the Community had yet to receive details,
      Reuter  -  478 words
    • 117 3 Reuter BRAZIL WILL APPEAL to the General Agreement on Tariffs and Trade, Gatt, if the US introduces trade sanctions in retaliation for Brazilian restrictions on US computer imports, a senior Brazilian government trade official said. Paulo Nogueira Batista, Brazil's representative at
      Reuter  -  117 words
    • 294 3 AP SOVIET LEADER Mikhail Gorbachev has told US industrialist Armand Hammer that Washington's reaction to the Chernobyl nuclear accident has done nothing to improve relations between the two superpowers. At a Kremlin meeting on Thursday with US bone marrow specialist Dr Robert Gale, Mr
      AP  -  294 words
    • 488 3 AFP AMERICAN DIPLOMATS are no longer so keen on foreign postings, since terrorist threats have forced them into a life of heavily-guarded seclusion in many parts of the world. The state department has told its diplomats and officials abroad to keep
      AFP  -  488 words
    • 302 3 FT UNEMPLOYMENT in Britain continued to climb last month, and hopes of a reversal were dampened by the announcement of a fall in manufacturing output. Adult unemployment rose by only 3,000 to 3.2 million after seasonal adjustments, much less than the previous month's sharp 38,000
      FT  -  302 words
    • 523 3 Reuter ECONOMIC REFORMS announced by the French government on Thursday has won praise from the employers' federation and bankers but interest rate cuts announced at the same time have caused resentment among small savers. The package, the second big reform since the right-wing UDF-RPR
      Reuter  -  523 words
    • 299 3 Reuter RIGHT-WING newspaper publisher Robert Hersant has emerged as one of the two leading bidders for France's first television channel, whose privatisation was announced on Wednesday amid a storm of protest. Employees of the stateowned station held an emergency meeting on Thursday and were
      Reuter  -  299 words
    • 193 3 Reuter UNESCO's Staff Association voted unanimously on Thursday to refuse to accept staff sackings and called for the reinstatement of employees due for dismissal because of budget cuts. A resolution passed at a meeting of around 500 staff called on the UN agency to withdraw
      Reuter  -  193 words
    • 433 3 Reuter US REPUBLICAN congressional leaders are vowing to restore defence money slashed by the Democratic-led House of Representatives from a 1987 government budget that President Ronald Reagan has branded a "radical anti-defence budget". After the House voted 245 to 179 for the US$994 billion
      Reuter  -  433 words
    • 309 3 Reuter US INDUSTRIAL OUTPUT edged up 0.2 per cent In April after two monthly declines as car manufacturing increased. The central bank said yesterday that mining, however, continued to lose production because of lower oil prices. Last month's increase surprised many analysts, who had anticipated
      Reuter  -  309 words
    • 868 3 ARRIVALS Operator Strvict number Local time From SIA SQI17 0005 KUL UA UA805 0010 JFK/SFO/HKG FT FT7I 0044 JFK/BOS/ ORD/ANC/ NRT/TPE CAL C1333 0315 TPE MK MK746 0755 MRU MAS MH681 0620 KUL KAL KE624 0840 KUL CV CV796 0645 LUX/DXB MAS MH8II 0910 PEN MAS MH67I
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    • 503 4 AP THE HEAD of the American Chamber of Commerce has said that growing labour activity and biased courts may scare foreign investors from the Philippines. Chamber president Fred Whiting suggested on Thursday that Philippine government leaders should consult with businessmen before changing economic
      AP  -  503 words
    • 315 4 Reuter LOWER OIL PRICES mean Thailand's gross domestic product will grow 4.6 per cent in real terms this calendar year instead of a previously estimated 3.2 per cent, the Thailand Development Research Institute (TDRI) has said. Real GDP grew by 4.2 per
      Reuter  -  315 words
    • 137 4 AP THE US EMBASSY presented the Thai government this week with a draft proposal (or the establishment of a war reserves stockpile in Thailand. Negotiations on the stockpile are expected to begin soon after the Thais study the US proposal, said a US
      AP  -  137 words
    • 392 4 AP THE US ambassador to the United Nations said he had warned countries getting American aid that they could expect less money if they voted against the US in the General Assembly. Vernon Walters, appearing before the Senate appropriations' foreign operations
      AP  -  392 words
    • 137 4 Reuter THE US has excluded New Zealand from a major Pacific military exercise beginning tomorrow and involving forces from five nations. A Defence Department spokesman said on Thursday: "In accordance with current US policy regarding New Zealand, they were not invited to take part in
      Reuter  -  137 words
    • 173 4 UPI THE TOKYO High Court yesterday upheld the Lower Court conviction of a retired conservative politician for taking bribes in the 1976 Lockheed payoff scandal, involving former prime minister Kakuei Tanaka. Tomisaburo Hashimoto, 85, former member of the ruling Liberal-Democratic Party, was the second defendant in
      UPI  -  173 words
    • 90 4 Reuter BRITAIN'S trade relations with Beijing have been boosted with the signing of two deals providing for investment in China. The first agreement is a soft loan facility of £300 million, under which China will receive money at a concessional rate of 5 per cent
      Reuter  -  90 words
  • Page 3 Advertisements
    • 44 3 I I /1 I J Every Tuesday, Thursday, Saturday II I I T and Sunday. Leaving Changi Airport I jy_lL V -Ll—ll at 22:05 hours and arriving at Bombay at 00:30 hours. Call Air Canada at *****55 or your Travel Agent. AIR CANADA 0
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  • RAW MATERIALS
    • 305 4 RAS prices in S cents/kg, F08 in boles NOON CLOSE Buyers Setters Buyers Sellers Int 1 RSS Prompt 169 00 170.00N 170.50 171 50N kit 1 RSS June 86 167 50 168 00 169 00 169 50 Int 1 RSS July 86 167 25 167.75 169 00
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    • 147 4 Chineee Produce Exchange Seller»' noon closing prices on Moy 16 (SJ/100 kg). Coconut oil Bulk FOB 48 00 Old drum FOB 61.00 New drum FOB 65 00 Copra Mixed (loose) 26 buyers Pepper Muntok White FOB NLW 1100 00 Sarawak White FOB foq NLW 1085 00 Sarawak special
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    • 58 4 Reuter CONTINUED lack of demand yesterday saw the price sf tin en the Koala Lumpur Tin Market ease five cents te Msl4.#4/kilo, dealers said. Trading remained inactive, with turnover only amounting ts 34 tsnnes against S3 en Thursday. Renter KL TIN Closing prices on Moy 16 (M$/kg) Price
      Reuter  -  58 words
    • 227 4 MALAYSIAN crude palm oil prices yesterday closed mixed on lack of followthrough support, after early sentiment was aided by talk India may have bought at least 33,000 tonnes of processed palm oil for various shipment dates in June to August at its weekly tender on Thursday, dealers said.
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    • 327 4 Reuter SINGAPORE THE MARKET yesterday closed quietly firmer with June One RSS buyers quoted at 169.00 cents per kilo, up two cents from Thursday's close, dealers said. The morning market recorded a rise of 0.75 cents following higher Japanese advices and speculative covering interest in quiet trading. Prices firmed
      Reuter  -  327 words
    • 108 4 (cents/kg, 1-ton pollets) jjj NE g 6 JULY 86 (current month) (forward month) NOON NOON RAS luytn Sellers Buyers Sellers SSR 20 158 00 I60 00N 158 50 160 SON SSR 50 155 00 157 00N 155 50 157 50N MRELB Buyers Sellers Buyers Sellers SMR CV
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    • 66 4 Bangkok Broken Rice 115 112 (USJ/tonne, FOB) A-l Super A-l Special White Rice C-l Special C-l Ord unq unq 100% 1st class 100% 2nd closs 240 215 Loonzain Rice 100% 3rd closs 210 100% 1st grade unq 5% 10% 200 195 100% 2nd grade 210 100% 3rd grode unq
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    • 705 4 Reuter COFFEE ROBUSTA FUTURES on Thursday ended a nervous session above earlier lows, with contracts unchanged to £18 a tonne below Wednesday night's levels. London values held comparatively steady despite commission house selling and a lower New York market, with persistent scale-down trade support cushioning the decline. A
      Reuter  -  705 words
    • 239 4 Reuter WHEAT FUTURES on Thursday dropped sharply after midsession and closed 2-1/4 to 13-1/4 US cents a bushel lower on the Chicago Board of Trade. Various reports indicating minimal crop damage from the Soviet nuclear accident, and thus less Soviet need for grain imports, weighed on values, traders said.
      Reuter  -  239 words
    • 221 4 Reuter Soybean futures on Thursday closed eight to 10-1/2 US cents a bushel lower, as soycomplex prices collapsed along with grains. Values penetrated key support levels following reports that Soviet import needs may not increase due to the nuclear accident. Rumours of Soviet grain buying had permeated the markets
      Reuter  -  221 words
  • Page 4 Miscellaneous
    • 54 4 Doonesbury UETRJSPTO REACH KXJ, SIR. THEYVEB6EN j PICKETING ALL MORNING. s o> ■a •s* JfL -3 SORRy ABOUT THIS, UWTEHAHT. THIS HAPPENS AT MY OPENINGS TO TIME. pOffl &ZL, i w m m 4 m IP BY GARRY TRUDEAU WELL, /55, BUT TLLNE6PA MEGAPHONE. AN PA STEPLAPPER $t t l
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  • BANKING AND FINANCE
    • 224 5 THE SINGAPORE branches of Arab Banking Corporation and National Bank of Kuwait are among the seven lead managers putting together a US$45 million loan for Daewoo Corporation. The three-year facility, signed in Singapore yesterday, will bear a margin of 5/8-point over the three-month London interbank offered
      224 words
    • 54 5 AP CHINA issued bonds worth US$l.5 billion on international bond markets between 1982 and April 1986, the official Xinhua News Agency reported yesterday. Fourteen bond issues have been made in Japan. West Germany and Hongkong and China will continue to raise such funds overseas for economic development,
      AP  -  54 words
    • 150 5 Reuter US DEPUTY Comptroller of the Currency Robert Herrmann said he has closed Saddleback National Bank of Laguna Hills, California, due to serious operational difficulties and a deterioration of its loan portfolio. The bank's insured deposits were transferred to Landmark Bank of La Ha bra, California, and
      Reuter  -  150 words
    • 112 5 Reuter MEDIUM AND long-term borrowings on international capital markets rose sharply to an aggregate US$3l.3 billion in April, $2 billion above the March level and $10.2 billion more than in April 1965. The Organisation (or Economic Cooperation and Development (OECD) in Paris said yesterday
      Reuter  -  112 words
    • 489 5 Surge in money supply not a deterrent Reuter THE SURGE in US M-l money supply will not deter Federal Reserve policy easing, although such a move is not imminent, economists have said. After an unexpected and sharp US$3 billion M-l rise in
      Reuter  -  489 words
    • 113 5 Reuter JAPANESE Prime Minister Yawhlro Nakasone said the time was near for Joint dollar buying intervention on the foreign exchange market, Japan's Kyodo news agency reported. Asked to comment on Bundesbank president Karl Otto Poehl' remarks on Thursday on coordinated intervention, Mr Nakasone said: "Gradually, it
      Reuter  -  113 words
    • 359 5 Reuter THE WEST GERMAN central bank president said on Thursday a period of currency market stability was now urgently needed after recent volatility. He also said coordinated intervention to this end could sometimes be useful. Mr Karl Otto Poehl told bankers in Hamburg that convergence
      Reuter  -  359 words
    • 338 5 NYT ONE OF SWITZERLAND'S most prestigious banks helped provide the US Securities and Exchange Commission with the documentation it needed to trace what the SEC says is an insider trading scheme to Dennis B Levine, a New York merger specialist. Moreover, a document filed in
      NYT  -  338 words
    • 91 5 Reuter AUSTRALIA'S Reserve Bank has cut its rediscount rate to 14.6 per cent from 14.8 per cent, effective immediately, a bank spokesman has said. The rate is paid by the central bank for repurchases of treasury notes of less than 91 days maturity. Dealers
      Reuter  -  91 words
    • 92 5 Reuter THE TAIPEI central bank said it had relaxed limits on remittances of US dollars, effective last Thursday, in a bid to slow growth of Taiwan's foreign currency reserves. A statement said Taiwanese nationals will be able to remit US$7,OOO a year to relatives abroad,
      Reuter  -  92 words
    • 489 5 Reuter THE DISASTER at the Chernobyl nuclear reactor in the Ukraine could significantly affect Moscow's needs and status as a borrower on world capital markets but the impact will be tempered by the sheer size of the Soviet economy, according to bankers in
      Reuter  -  489 words
  • MONEY AND EXCHANGES
    • 887 5 Reuter SINGAPORE THE US dollar yesterday extended its early gains against most major currencies in moderate late trading to close sharply higher. It advanced to a late 165.40/50 yen from an early 163.90/164.00 and New York's 163.65/75 close. It rose to a late 2.2115/30 marks from an early
      Reuter  -  887 words
    • 90 5 RESULTS OF TENDER held on May 16 for 91-day Treasury bills to be issued from May 19 to May 22: Offered: 170,000,000 Applied fer: $162,000,000 Allotted: 170,000,000 Accepted bids: $99.40 approximately 34 per cent, higher bids in full. Average rate ef dlsceut n alletmeat: 2.365 per cent per
      90 words
    • 120 5 THE OVERNIGHT rate on the Singapore interbank money market rose 3/8 point from Thursday to close at 4-7/8 per cent yesterday. The one-month term rate rose by 1/8 point while the two and three-month rates rose by 1/16 point. S$ Interbank rates at 7pm yesterday: OH«f B«j Overnight
      120 words
    • Article, Illustration
      298 5 Asian market ASIAN DOLLAR deposit rates yesterday closed firmer compared with Thursday's levels, in fairly active trading. Period rates from one to six months closed at a common 7-1/8 seven per cent, up 1/8 point from the previous close and one year at 7-1/4 7-1/8 per cent, up 3/16. Asian
      298 words
    • 219 5 Interbank rates at 3pm yastarday: Local dollars to om unit of foreign ttd Oder o raeo parity Ct n,T US dolor Sterling pound Australian dolor HZ dolor Conodran dolor 2.2135 3 3744 1.5881 1 2284 ***** 2.2145 3 3782 1.5911 1 2323 1.6105 ***** 7.3469 3 4286 3
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    • 273 5 HONGKONG: GOLD yesterday closed little changed in fairly thin and dull trading. It ended at U*****.20/60 an ounce compared with New York's 342.25/75 close and the 342.00/40 finish here on Thursday. On the local market, gold rose HKS2 to end at $3,179.50 a tael. The Krugerrand ended unchanged at
      273 words
    • 396 5 BA Futures EURODOLLAR futures yesterday gapped down sharply following the much stronger than expected increase in US money supply and industrial production on Thursday night. Fears of renewed inflation and faster economic growth also contributed to the bearish tone. June Eurodollar touched a low of 92.83 before rebounding as
      BA Futures  -  396 words

  • TIME-OFF
    • 506 6 THERE AREN'T many absolutes in this world except birth, death and the taxman. All three are unpleasant. Birth, fortunately, one doesn't remember, death we spend about 70 years trying to avoid, but the taxman is eternal, relentless and unavoidable. He is the bureaucratic nightmare, the
      506 words
    • 807 6  -  By WALTON MORAIS MOODY INTROSPECTION. Freudian slips. Cerebral titillation. In other words, the French Film Festival is on us again. The five-day festival on May 19-23 features five recent films chosen because of their popular as opposed to commercial or classical appeal. It provides us another
      807 words
    • 1116 6 What's on from May 17-23 CONCERTS: 880 faaturee Siow Ln Chin and Yeh Bhu Han. Victoria Concert Hall. 8.15pm. Programme includes Rossini's La Scala di Seta overture, Dvorak's Romanze for violin and orchestra, op 11 and Sarasate's Fantasy on "Carmen" by Bizet for violin and orchestra, op 25. Tickets
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    • 283 6 FENGSHUI is taken so seriously by Chinese businessmen that unusual circumstances can arise. A BT reporter, calling on one of her contacts, had difficulty finding the office because in spite of being told that Unit X was the office, there was no reassuring signboard on the
      283 words
    • 136 6 SINGAPOREANS can catch soma 20 works of glaaa sculptures by wall-known British sculptor and jawallar And raw Logan at an exhibition at the lleriHUn AMkkeMl M*rvaien vsrcn&ra. The attraction of the exhibition is a 10-feet tall flying horae named "Pegaaua". Valued at $78,250, it ia constructed
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  • Page 6 Miscellaneous
    • 783 6 CRYPTIC PUZZLE ACROSS 9 Having a |ob or chasing after one (2, 7) 10 Simple arithmetic for kids (4, 4) 12 A refusal, we're told, to recognise (4) 13 Land right inside and give yourself a wrench (6) 14 Unfold the maps and get a drink out on the ship
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  • SPORTS
    • 426 7  -  By WALTON MORAIS THE FINAL ROUND of the Singapore Island Country Club Intermediate championship tees off at the par-71 Bukit course today with the winner still anybody's guess. R Kondo and Eugene Yeo are tied in the lead with a 36-hole
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    • 286 7 Reuter HOWARD CLARK of Britain, Europe's leading prize-money winner, looked set for another lucrative pay day after sharing the first-round lead in the £150,000 Spanish Open golf championship on Thursday. Clark, who won the Madrid Open three weeks ago, his compatriot, Ross Drummond,
      Reuter  -  286 words
    • 361 7 AP HENRI LECONTE, the elegant but erratic French left-hander, looks like the only outsider who can stop the top four seeds in the Italian Tennis Open from taking the four semi-final berths in the tournament. The Frenchman faced Czechoslovakia's Ivan Lendl,
      AP  -  361 words
    • 348 7 AP THERE WAS a time when the game of golf didn't move fast enough for Pat Bradley, a time when baseball, basketball and football seemed more the thing to do. That was when a golf club was new in her hands
      AP  -  348 words
    • 654 7  -  By BRIAN MILLER WITH 10 RACES on the cards, it's going to be a long afternoon for punters at Bukit Timah and, unless you pull home an early winner, the "outing" could prove costly and frustrating. However, punters could get off with their feet
      654 words
    • 685 7 UPI FORMULA ONE DRIVER Elio De Angelis of Italy died on Thursday from injuries suffered on Wednesday when his Brabham race car overturned and caught fire at the Paul Ricard circuit in Le Castellet, southern France. De Angelis, 28, one of the top Formula
      UPI  -  685 words
  • Page 7 Advertisements
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  • Page 7 Miscellaneous
    • 1262 7 Cornered... the handsome Tyrone Power TYRONE POWER MOVIES Blood end Send 8.30 pm, Channel 12 Tyrone Power, Linda Darnell and Rita Hayworth star in this colourful version of Vicente Blasco Ibanez's novel about the life of a young bullfighter. Once Juan Gallardo attains fame as his country s greatest matador,
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    • 29 7 BriStOWT ?&zj<L^ck£!z£ J3 I'm... PoTnrtc* ort my s.r<?if»eD BRusmtfC, OP my Bou>L€R STR«ctly LF\ mooe. rm PtLIiNG UP Tv-ießrooS FPVE.TtNtN<i BRIE^C^Se. Ttme ID HIT me ROPSD LfVTe RGRinI !fl
      29 words

  • INTERNATIONAL STOCKS
    • 267 8 Reuter THE British telecommunications industry has entered a new era of competition with the emergence of a challenge to the traditional monopoly of the national telephone company British Telecom (BT). Mercury Communications Ltd, a subsidiary of Cable and Wireless, opened for business on Thursday
      Reuter  -  267 words
    • 99 8 BURROUGHS CORP chairman Michael Blumenthal has said his company is prepared to "negotiate a meaningful increase" in its offer to acquire Sperry Corp. M While we believe that .the US$7O per share we offered is a full fair price, we are prepared to negotiate a meaningful
      99 words
    • 106 8 UPI THE PLUNGE in oil prices in the first three months of 1966 left oil giant British Petroleum (BP) with £718 million in stockholding losses, the group announced on Thursday. On a historical cost basis', BP's net quarterly profits were down from £515. million
      UPI  -  106 words
    • 329 8 Reuter THE WALL STREET stock market on Thursday slid to its worst loss of the month, as rising interest rates contributed to a sharp reversal of Wednesday's closing rally. Traders linked the decline to the inability to carry through on Wednesday's rise,
      Reuter  -  329 words
    • 162 8 MAY IS C$ hco 18 kit Pro* np« 44* unch lu Intl 21* Abrtto 25* Kerr Add 16* Aicart 39* Loblow B 13* unch Algomo 17 urvch MOM#y Fwg 3* unch Bank Mont 33* Mc Bkxtet 36* Bank Nova Scotia 14* Motion A 26* M Canada 39* 33* Bp
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    • 192 8 MAY 15 Un S(mI 70 inch WooHtvi 1475 25 INDUSTRIALS MININGS A Alpha 1000 unch 4250 -10 205 -10 1150 25 I7000B unch 500 5 1675 25 AST* 4100 -250 Buffets 7025 -100 1700 •to Charter 1220 45 C G Smith 2850 2425 CNA •S 1000 490 2460 unch
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    • 655 8 MAY 15 us$ Alcon Alurr«n 28* Alcoa 38 Aleg InM 22 Afc*d S<g 49** Afced Store* 41* Afcs Chalmers 5* Am Brandt kic 83* -4*. Am Can Co 70*. 1* Am Cyanamd 70 -1* Am Eiec Pwr 24* unch Am Express 58* -IV. Am Home Prod 81 -1
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    • 880 8 Amsterdam MAY 15 Fh ABN 552 00 +5 101 50 +0 5 Ahold 77 00 13 159 10 +16 AAAEV 7700 +05 Amro Bonk 97 40 0 9 Aw Slod 117 80 +1 3 30 50 +04 ***** 2 Buehrmon Tetterode 157 50 45 593 00 +8 *****
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  • Page 8 Advertisements
    • 602 8 i; ii dine aM eaMii m #f=p Baron's Table Sunday Branch... youll love it.' Give mum a break this Sunday and bring the family in for our taste-tempting Brunch. You can relish our enormous spread of wholesome fare at only $25.50 per adult and $15.00 per child (under 12) every
      602 words
    • 213 8 (?%>"@;>\>+\]%:_(>:=;{|<@'?[!\[ Lounge rrr rnMßiis/ATiOM v. AND THE PERFECT COMBINATION GOOD MUSIC AND GOOD WINE GOOO FRIENDS AND LAUGHTER YOU AND YOURS AT THE LOUNGE ROSEMARIE DAISY. MANUEUCA AND EMMANUEL. WITH CHART TOPPERS. OLDIES AND ROCK N ROLL PUT EVERYTHING INTO PERFECT COMBINATION POR A PERFECT NIGHT OUT CR^Vn OTEL Cmmmmmt
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  • ASIAN STOCKS
    • 379 9 HONGKONG: Stock prices yesterday closed easier in fairly active trading as overseas institutions continued to unload their holdings. The Hang Seng Index lost 7.00 points to end the day at 1,787.06, after gaining being up eight at the morning close. The Hongkong Index fell 4.48 to 1,111.89. Some brokers
      379 words
    • 254 9 MAY 16 MT$ 228 24 40 30.40 43 60 Kokr 26 90 -0 1 Al Sincere Indus Alio Cement Cothoy Cons Chang Hwo Bark -0 12 +0.1 +0.1 •0.1 Kuochan Da* Laa Chang Yuan Cham Indus Lien Hwa Indus Nan Ya Pla* PocrfK Cons 20 30 25 30 12
      254 words
    • 418 9 TOKYO: Share prices yesterday nosedived in moderate trading, sparked by a steep fall for the New York market and a lack of fresh incentives to buy. The market average plunged 278.03 in early afternoon but rebounded to end down 185.64 at 15,739.05. Turnover was 430 million shares against 480
      418 words
    • 56 9 MAY 16 fal Onantal B Phd Ov«n*as Phitax B 0015 -0001 0.18 unch Acom Mning Picop B PLOT 0002 78 Atfc» Con. B Boguro GoW 14 Sar Migud B 41 unch ***** -0001 Bone P«trotaum 0.0024 i*Kh 9 60 0.4 First PM Wdg» 3.90 0012 unch Leporrto B 007
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    • 362 9 SYDNEY: Sharemarkets yesterday closed steady, bouncing back from the day's low following rumours of a possible full bid by Elders IXL for BHP. Brokers said the rumours, which originated on the futures market, were enough to turn the market around and sparked off new buying interest in the industrial
      362 words
    • 147 9 BANGKOK: The Securities Exchange of Thailand Index yesterday rose 0.22 point to 129.98. Turnover was 231,600 shares valued at 21.4 million baht. Tha South Koraan markat waa cloaad yaatarday for Buddha's birthday MAY 16 Ao Kham Thoi AHO Fkf« Win 124 unch Sarmsuk Stam Camant Stam Citutrn Siam Citizens
      147 words
    • 180 9 Reuter BELL RESOURCES Ltd chairman Robert Holmes a Court said Elders IXL Ltd chief executive John Elliott offered him a As4oo million profit to sell Bell's holding in the Broken Hill Pty Co Ltd, BHP, to Elders. In refusing he told Mr Elliott he would
      Reuter  -  180 words
    • 121 9 AFP NEWSPAPER and television magnate Rupert Murdoch and movie mogul Sir Run Run Shaw are considering joint ventures, according to Sir Run Run yesterday. Sir Run Run said the two met one day in Hongkong last week to discuss cooperation in television
      AFP  -  121 words
    • 89 9 AFP NORANDA of Canada and the Tianjin Non-ferrous Metals Industrial Company of China are to carry out a Joint feasibility study for the erection of a copper smelter and refinery, Noranda has said. Noranda will work with China's Central Engineering and Research Institute for non-ferrous metallurgical
      AFP  -  89 words
    • 321 9 AFP THE US stock brokerage firm Shearson Lehman Brothers Inc on Thursday celebrated the opening of its subsidiary in Tokyo, a move described as decisive for the firm's future. Wall Street, London's financial district and Tokyo's Kabuto-Cho (stock exchange) are "inextricably linked and the future
      AFP  -  321 words
    • 188 9 Reuter UNSECURED creditors of the collapsed Carrian Investment Ltd may recover about 20 Hongkong cents on the dollar, lan Robinson, one of Carrian's three joint liquidators has said. He said on Thursday the liquidators have issued proceedings against Carrian's former
      Reuter  -  188 words
  • Page 9 Advertisements
    • 629 9 I ryi' 5 a übertua (^nll Sunday Bfunch cat the Huberfus Grill. Make it an occasion for the whole family Sausages, bacon, oysters, smoked salmon, tasty entrees... right through to pastries, puddings, fruit salad and cheeseboard Sunday Brunch: 11 am 2.30 pm. $24 for adults. $12 for children Prices are
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    • 104 9 <-.s r five... 2 Live Bands Ni|htlyi 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 (except premium brands) MB Well known band E CAIRNHILL TRIO with
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  • SHARE INFORMATION
    • 4021 10 THE STOCKMARKET correction entered its second day yesterday with single-digit falls recorded across the board. There were only 16 rises against 113 (alls as volume slowed further to 7.64 million shares worth $12.52 million, from Thursday's 9.37 million valued at $14.68 million. At the
      4,021 words
    • 269 10 SINGAPORE Risas In P M HUai 200 23 ITCompout* die— May 15 Ma« 16 504.31 499.83 Sm Via. 122 ICS 4S0 (M Cam 169 Sm LM 129 tirti Mm 390 Falls M If—CM MS latl Trwst 86 M l«*. M 306 S 1 A 60S H Lmm
      269 words
    • 2711 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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    • 258 10 Monogers' prices for May 174 19 Singapore Unit Trust The Commerce 0 73 0 77* The Sovwigi Fund 0 63 068 S pore Prog Fund 031 0 33 S pore Sec Fund 0 52 056 S'pore Invest Fund 0 47 051 S'pore Equity Fund 036 038 Asia Unit
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  • COMPANY NEWS
    • 418 11  -  By HOMER CHEN AT A TIME of recession when the retail sector is facing difficulties, Isetan (Singapore) Ltd is about to open its largest Singapore department store in Orchard Road involving an investment of $100 million. The store, which is scheduled to
      418 words
    • 210 11 A WRITEDOWN of investment knocked bottomline profits of property development company Bandar Raya Developments Bhd, which was already troubled by the sluggish property market. Profits attributable to shareholders suffered a big 70 per cent drop to $2.83 million for the year ended
      210 words
    • 215 11 CEREBOS PACIFIC LTD's New Zealand subsidiary, Cerebos Greggs Ltd, has raised its shareholding in Dominion Salt Ltd and Dominion Salt (NI) Ltd on May 13 from 33 Vs per cent to 50 per cent. It paid NZ$3.l3 million (about Ss3.B million) for 75,000
      215 words
    • 556 11 SHARE PRICES retreated in lethargic trading on the Kuala Lumpur stockmarket yesterday as investors kept to the sidelines for the greater part of the day. Speculative stocks, which attracted some attention, did not fare well and most finished in the minus territory on light
      556 words
    • 470 11  -  Share dealings with AAS put company in the red By AMY CHEOK A $13 MILLION PROVISION for stockmarket dealings with beleaguered broking firm Associated Asian Securities has left Singapore Fodder Company Ltd in the red. As a result of the exceptional item, the animal feed
      470 words
    • 563 11 NST MALAYSIAN OVERSEAS Investment Corporation, the general trading company which was to have spearheaded the country's trading and investment thrust into Third World countries, will be liquidated soon. Sources said the debts and losses it has accumulated in its short span of three years in
      NST  -  563 words
    • 2372 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 011,000 units unless otherwise specified. MDUSTRMLS Acmo (I 006) cd Ajmomoto (2 906 3.1 OS) (1)
      2,372 words
    • 136 11 23rd AGM at Hotel Equatorial, 2nd Floor, Bougainvillia Room, 429, Bukit Timah Road, Singapore 1023 on Wednesday, May 21, at 10am. BATA (MALAYSIA) Berkad: 30th AGM at Petaling Room, Kelab Sultan Alam Shah, Shah Alam, Selangor on Thursday, May 22, at 11.30am. KECK 8ENG (Malaysia) Berfcad: 16th AGM
      136 words
    • 115 11 HONGKONG All Industrials Hong Kong Index Friday 1945.4 Thursday ***** Friday 1111.89 Week ago 2053 6 Thursday 1116.37 Week ago 1152.36 NEW YORK Hang Seng Index Dow Jones Friday 1787.08 Thursday 1774 68 Thursday 1794.17 Wednesday 1808.28 Week ago 1852.21 Week ogo 1786.21 TOKYO Standard Poors Nikkei Average
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    • 806 11 Reuter SHARE PRICES finished above their lows after two spells of bargain hunting yesterday, dealers said. Equities had begun lower in continuing response to the recent Nat West rights issue and the declines on Wall Street. "There's been no real volume today," one dealer said, adding that operators
      Reuter  -  806 words
  • Page 11 Advertisements
    • 158 11 OFFICIAL NOTICE PROPOSAL TO CHANGE A SHIP'S NAME Notice is hereby given "that in consequence of the intended change of name of ship by our clients. Jasmine Shipping Pte Ltd of 6 Bat--tery Road Unit 38-01, Standard Chartered Bank Building, Singapore 0104, we have applied to the Registrar of Singapore
      158 words

  • 357 12  -  By BRIAN GOMEZ, Industrial Correspondent A $16.5-MILLION PLANT to produce methyl tertiary butyl ether (MTBE) will be the first addition to the $2-billion petrochemical complex on Pulau Ayer Merbau since it started operations in February 1964. Petrochemical Corporation of Singapore
    357 words
  • 470 12 THERE IS A VERY REAL possibility that the trying times faced by hotels here may be stretched over a period of four to six years or more. This was the conclusion of a paper presented by the Singapore Hotel Association (SHA) submitted recently for
    470 words
  • 171 12 UPI HE IS DRIVING down a street when he sees her, the woman of his dreams zipping by in her car. He tries to catch her but is Slowed by traffic, gets caught at a red light and can only watch as
    UPI  -  171 words
  • 59 12 Reuter FOUR Indonesian ministers will meet Australian Immigration Minister Chris Hurford in the first high-level contacts between the two countries since a row broke out over a Sydney newspaper article last month. Mr Hurford, who arrives in Jakarta today for a four-day visit, will meet the ministers of
    Reuter  -  59 words
  • 82 12 Reuter THREE former senior officials of an overseas Chinese bank have been held for questioning over fraud involving about US$B.5 million, Taiwanese court officials said yesterday. They told reporters that Yang So-Pan, the former president of the Overseas Trust Corporation; Hsieh Yuan-Lin, once
    Reuter  -  82 words
  • 63 12 AP TAIWAN has denied allegations by the Australian Fund for Animal group that its canned fish contained dolphin meat. An official said a mixture of dolphin meat and canned fish, mainly tuna, would not fool consumers. The group has called for a boycott of Taiwanese canned ffeh, saying
    AP  -  63 words
  • 135 12 AFTER SHOWING some increases in the first two months of this year, the number of tourists in March fell by 0.6 per cent to 260,497 from a year ago. This brought the number in the first quarter of this year to 759,827, an increase of 2.5
    135 words
  • 88 12 SHELL Eastern Petroleum has announced a two cent per gallon cut in the price of A-l Jet fuel, regular kerosene and gas oil, bringing them down to between 37 and 39.5 US cents per gallon. The price cuts, which take effect today, follow a
    88 words
  • 49 12 AN ECONOMETRIC MODEL that can help to track the future course of the Singapore economy is being built by the National University of Singapore, the Singapore Broadcasting Corporation disclosed last night. The NUS model will complement the model being constructed by the Ministry of Trade A Industry.
    49 words
  • 62 12 MANAGERS of small and medi-um-sized companies may be able to pick up some tips on how to manage their companies during the recession at a workshop to be organised by the Singapore Manufacturers' Association. Three sessions of the one-day workshop, to be conducted by Deloitte Haskins A Sells
    62 words
  • 368 12 SINGAPORE has been singled out by Fortune magazine as the most striking example of the newly industrialising countries in Asia to move away from the shackles of centralised economic control. "Instead of singling out industries to promote with tax breaks and low cost
    368 words
  • 201 12 AFP FOREIGN BANKS in Japan will shortly be allowed to issue their own yen long-term bonds on the Euro-market. This is currently permitted only by international bodies, foreign governments and industrial groups. Talks with Japanese commercial and long-term credit banks and with the banking bureau
    AFP  -  201 words
  • 193 12 Reuter FEARS THAT Prime Minister Margaret Thatcher is heading for probable defeat in Britain's next general election have fuelled this week's steep falls on the London stockmarket, analysts have said. Share prices continued to fall yesterday for the third day running with the
    Reuter  -  193 words
  • 101 12 Reuter THE AUSTRALIAN government said yesterday it would call an urgent national conference on the economy, two days after Treasurer Paul Keating said Australia was in danger of becoming a banana republic. The meeting, to be held within two or three weeks, would be
    Reuter  -  101 words
  • 191 12 A CAMBODIAN resistance leader said yesterday that Cambodia was racing against time to prevent the country from being completely Vietnamised. Mr Son Sann, leader of the non-communist Khmer People's National Liberation Front, sees the next three years as the most crucial in
    191 words
  • 377 12 A JAPANESE NON-TARIFF barrier faced by local exporters has been removed with recent changes to the Japan Industrial Standard (JIS) rules which allow Singapore to conduct inspection tests on behalf of the Japanese authorities and facilitate the awarding of the JIS
    377 words
  • 101 12 Reuter COMEX GOLD FUTURES rose US$O.9O an ounce yesterday on scattered buying by foreign traders who were rolling positions to the US market prior to the three-day holiday weekend on the Continent. Gold for delivery in June gained 10.90 at (344.30 an ounce, in a penetration
    Reuter  -  101 words
  • 64 12 Reuter WALL STREET stocks yesterday extended their losses from Thursday night's sharply weaker close, although pressure was not heavy, traders said. Weaker bonds, a surge in the money supply and carry-over from Thursday's decline caused the retreat, they said. The Dow Jones Industrial Average fell four points
    Reuter  -  64 words
  • LATE FILE
    • 67 12 AFP FORMER Thai Prime Minister Kriangsak Chomanand, on trial in connection with an abortive coup last year, said yesterday he would run for a parliamentary seat in the July 27 general elections. Mr Kriangsak would contest the seat in Roi Et Province, 510 km northeast
      AFP  -  67 words
    • 75 12 Bernama THE Malaysian government should liquidate about 900 state-owned companies which have incurred losses totalling more than Ms 2 billion. Retiring Auditor-Gener-al Ahmad Noordin Zakaria said the companies, set up by statutory bodies and government agencies, had no hope of ever making profits. "These companies are
      Bernama  -  75 words
    • 78 12 UPI TAIWAN and Chinese officials agreed yesterday to meet in the offices of a Hongkong airline for what would the first face-to-face confrontation between the two countries since China's communist revolution 37 years ago, a source said. The meeting, scheduled for today in the offices
      UPI  -  78 words
    • 51 12 Reuter US housing starts rose by 4.1 per cent in April to a seasonally adjusted annual rate of 2,009,000 units, the Commerce Department said. In March, housing starts fell a revised 3.5 per cent to 1,930,000 units. The department previously estimated they fell 2.4 per
      Reuter  -  51 words
  • Page 12 Advertisements
    • 287 12 Views fiom the top Ftee with your B.T. subscription (along with 31 free issues) Establishina VIEWS FROM! THE lor the jnct TOP Future of Business Charles L Brow Dol :ias D Dar'or Take out a 12-month subscription to Business Times today, and get this new American business book absolutely free.
      287 words
  • Page 12 Miscellaneous
    • 55 12 wmam Outlook for today: Showors ovar several areas in the morning. Rap. oft for 24 hours prior to 7.30pm on May 16 ot the airport. Maximum tamparatur* 29.2 Astociotod humidity 78 Minimum tamparotura 25.5 Associated humidity 85 Hours of sunshina 4.05 Rainfall in millimotras troca Rainfall this month 96 4
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