The Business Times, 8 March 1980

Total Pages: 16
1 16 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 111/1/81 SATURDAY, MARCH 8,118« 50 CENTS
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  • BRIEFLY...
    • 82 1 AP LONDON, Fri. Gold fell as low as US$6OO in trading today. Prices dipped sharply on European markets, while the dollar was mostly steady to very slightly lower on currency exchanges following yesterday's abrupt Jump. On the big Zurich market, gold dropped $20 from its overnight level to
      AP  -  82 words
    • 62 1 Reuter TOKYO, Fri. The Bank of Japan said its policy board formally approved removal of interest rate ceilings on funds from foreign governments, central banks and international organisations deposited here in free yen accounts, effective from next Monday. This is part of the yen defence package announced last
      Reuter  -  62 words
    • 79 1 Reuter HONGKONG, Fri. A US recession is unlikely in view of American efforts in the armaments field, with an estimated US$23 billion increase in the US defence budget, Dresdner Bank AG managing director, Hans-Joachim Schreiber said. He said that while there may be slack periods in the
      Reuter  -  79 words
    • 93 1 AFP -TOKYO, Fri. The Japanese government today 'decided to map out a new package of belttightening measures by March 21 in a to beat back inflation and defend the Japanese yen on the foreign exchange market. The decision came at today's regular Cabinet meeting chaired by Prime Minister
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    • 56 1 AP BELGRADE, Fri. Yugoslav officials said publicly for the first time that President Josip Broz Tito's declining health might have reached a lengthy period of stabilisation. "We know about the stabilisation of his condition," Slovenian information official Tone Vahen said after a third straight daily report that President
      AP  -  56 words
    • 61 1 AP PARIS, Fri. The UN investigation commission in Teheran expects to meet with the American hostages tomorrow or Monday, its French member, lawyer Louis-Edmond Pettiti said. Informed sources in Teheran said the commission expects to meet the hostages on the Embassy grounds. The sources said the commission
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    • 67 1 AP NEW YORK, Fri. The stock market declined broadly as the recent barrage of bad news on inflation and interest rates continued. The Dow Jones average of 90 industrials, off 28.41 points in the last two days, fell another 5.03 to 823.04 half an hour after the opening.
      AP  -  67 words
  • 137 1 Rises M U I Koehai Dutch Baby Public Textile Seatoaa Lies Hoe Ovalop lad J C MPH Graad Ceatral M Cemeat 806 33S ZS3 aoe 138 102 570 aM 1S6 m 270 38 M +23 +8 +8 +5 +4 +4 +2 Falls Mania Carp* lack Keaaeth PMC
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  • Article, Illustration
    154 1 Rises Kuchai 360 +30 P. Textile m +29 Falls Malayan Tin 3150 -50 S. Mai Tin 1910 -40 Magnum Corp 705 -35 M. Cement 492 -33 C. Sugars 520 -30 Genting 565 -25 P.M.C. 620 -25 Sel. Prop 830 -25 Aetna 330 -22 Kramat 580 1 -20 Rahman
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  • 686 1  -  THANKS TO SILVER PRICES By MARGARET THOMAS THERE IS a silver lining to every X-ray film stored away in hospital filing cabinets, as the Government and scrap metal dealers have discovered. Last Thursday, the Government earned close to $200,000 by auctioning off more than 7,600
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  • 325 1 SHELL'S liquefied petroleum gas (LPG) will cost more from Monday while other oil companies are expected to raise their prices early next week. The new price will, however, still be considerably lower than an equivalent volume of PUB gas. LPG prices to the
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  • 503 1 PROTECTIVE duties on a list of items ranging from television sets and airconditioners to food products and ingredients have been removed. Excise duties on a number of food ingredients have also been abolished while duties on another list Of items ranging from refrigerators and flourescent
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  • 225 1 THE President of the General Insurance Association of Singapore has cautioned that the profitable insurance business is fast deteriorating because of low premium rates and an increase in claims. Speaking at the association's annual dinner yesterday, Mr Tan Hoay Gie said the charging of unrealistically low premium rates
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  • 203 1 FOB eaaptoyeea dtkebBevtue Dcpirt■art, tkeH w«i year la balaaml seme» what by tke pr*apee«* at mart «ark. Ike tautaart la war Mjkf haw Ik eaa tolas* mm «MM towera sheet toe aew toeeme tax ratoa. Aeeartog to a depart■eat
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  • 417 1  -  By FOO CHOY PENG THE European Economic Community (EEC) is considering extending its generalised scheme of preferences (GSP) beyond 1980, taking Into account the economic development needs of Asean and other developing countries. Although the duration of the extenakm has not yet been decided, Mr
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  • Page 1 Advertisements
    • 3 1 m r f
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    • 104 1 Prowler our newest breed of cats Investment-cast Irons from a sophisticated new metal. LYNX irons incorporate the precise features available in investment-cast clubheads specially engineered tor that J sjper-soft feeling when hitting the ball f You'll experience extra accuracy and ball control everytime 1 That's the new breed of irons
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    • 68 1 TCMDaHZI LEISURE TIMES DYNO Industries to set up ANALYSIS *1 Ike Ml •> the another p1ant............................ 2 Singapore stack market............ II INDUSTRIAL policy with a dlf- CONTRACTORS MMlag up 0pference..................................... C position to new contract 12 WHY Central Securities Is In ACCOUNTANTS say It Is a the red 11 family
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    • 2 1 LMk4tf...pk(t f
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    • 163 1 //Wk jsKAKlf•* f. > T«t 4M724/454M4 *8 24*74 A* BAIUCC* h«ft CaMc HAKICOItr- mfc.rootl. Mars Mag Muatrttf Estate Matwsia T«fc ***** MMMIaCtMCW. CaMe: "RAKIOOffP" Johare Bahru miller a»4 stockist*. Imitr fpil ASIA RESEARCH BULLETIN i This unique publication offers businessmen each month a comprehensive guide to the latest developments taking
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  • TRADE AND INDUSTRY
    • Article, Illustration
      464 2 EXPECTED ABBIVALS TODAY KEPFEL WHABVE8 Bunga 8Mi (after Bunga Mas) 19 Bunga Mai (Q600 after Samkk) 19 Confidence (after Palm Sea Hone) 15/16 Cornelia Maenk (0100 after New Dragon) 1/3 Fides (0500 after Kaflok) 8/9 NedHoyd Nagojra (after Stena) 3/4 Palm Sea Hone (Ml P/O after Metro
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    • 521 2  -  By HSUNG BEE HWA DYNO Industries of Norway is setting up a plant in Singapore to produce expandible polystyrene (EPS) used in packaging and insulation. The newly incorporated company, to be known as Dynopor, has been granted a five-year pioneer status by the
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    • 174 2 AN 11-member Canadian fisheries mission will be in Singapore from Sunday to Thursday to promote fish and fisheries products in the Republic and South-east Asia. The mission, comprising representatives from 10 companies and the British Columbia Seafoods Expotteii Association, will be led by Mr KM Torrie of
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    • 768 2 ARRIVALS ferviM i fyr Operator Nubir The Fknh SLA SQ913 0020 HKG PAA PA005 OS NYC/SPO/HKG MAS MH601 0645 KUL SIA/BA SQ/BA17 0710 LHR/BAH MAS MH682 0710 KCH SIA SQ101 0815 KUL MAS MH621 MAS MH607 0845 KUL MAS MH671 0930 PEN/KUL SIA SQZU 1000 HLP CAL
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    • 140 2 THE Haw Par Group has appointed Mr W A Hate* as chief executive of Haw Par's marine division in Singapore. Mr Blatch also becomes managing director of the division's three companies Straits Marttime leasing Pte Ltd, South Seas Assets Pie Ltd and M A G Maritime Services
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    • 72 2 THE ■Singapore Institute of Management, In association with Performs Human Resource Development, wffl be holding a one-day seminar on "Change, Stress and the Relationship Between People and their Work" on March 28. The talks by Professor Ivor Kenny, director general of the Irfefc Management Institute, a leading
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    • 228 2 A NEW technology for the design and manufacture of glass fibre reinforced concrete pipes has created "serious interest" from some local pipe manufacture er visiting the Asia Aquatech 80 exhibition at World Trade Centre this week. This revolutionary technology using an alkali-re-sistant glass fibre'in
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    • 166 2 A ONE-DAT Workshop on Project Management will be held by the Institution of Engineer» Singapore at the Regional Language Centre on Monday, March 10. Tne objective to identity common pitfalls and problem» In the Implementation and administration of various construction projects. The workshop Is also intended to highlight
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    • 127 2 NTUC Comfort aonounosd yesterday dint It Is extending Its fivnday week CBD taxi service to a six-day week service at the designated CBD check-points during the peak hours. CBD taxis wffl ply In the Central Business District from 12J0pm to 2Jopm on Saturdays with effect from
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    • 464 2 SINGAPORE is moving along the right lines and at the right pace in its efforts to become the region's computer software centre, said Mr Hemit Le Roux, chief executive of Le Roux International Incorporated, a USbased computer consultancy firm. He was speaking yesterday at a
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    • 220 2 DISTRIBUTORS of BMW vehicles in Hongkong, Indonesia, Malaysia, Thailand and Singapore met here this week to plan marketing, communication and advertising strategies for the South-east Asian region. Performance Motors Limited, a subsidiary of the Sime Darby Group and BMW's agents and distributors in Singapore, was host of
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  • Page 2 Advertisements
    • 244 2 from j r "WM& Mamrj, f i >r i »;>'■ <"s •<■, S ,< fc« Tzjijur-a Ss V< *L Those rare cars which stand out in a crowd, which suggest exclusivity even at rest, which combine head-turning looks and outstanding performance qualities, are analysed in this book. It is based
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  • Page 3 Advertisements
    • 163 3 <We are nmJkro that we have moved to the top floor of TONG ENG BUILDING 4 Qra -•-I i 11 MTo commemorate the successful completion oi Jong ling Building, we are pleased to offer the following properties for sale at very reasonable prices Greenbank Park •h Your last chance to
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  • RAW MATERIALS
    • 285 4 EASIER and quieter conditions have persisted with current One RSS closing at 320 cents per kilo, down some 18 cents on balance, says BsMay, Caller, Balk Ciapaay in its review of the Malaysian and Singapore rubber markets (or the week ended March 6. March One RSS Initially
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    • 187 4 CHICAGO Board of Trade wheat future» dosed an or near the lows on Thursday, down SV« to eight cents per bushel. Wheat traded on the defensive all day after an exporter with European connections sold July early, floor traders said.. Scale-up commercial hedge pressure limited any rally attempts, they
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    • 123 4 VALUES in Kuala Lumpur weakened farther yesterday in quiet sluggish trading, dealers said. The weakness reflected lack of either refiner buying or overseas enquiries. In the southern region, March fell MHO per long ton to H. 040 while April was tradsd at $1,025 and March at 91,090 and
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    • 340 4 THE SINGAPORE market yesterday closed slightly lower with March One RSS buyers quoted at 318.50 cents per kilo, down 2JO cents from Thursday's close, dealers said. Morning prices were marked down on weaker local and overseas advices coupled with some stale bull release! while afternoon prices were slightly steadier
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    • 272 4 R-AA prices In c*nta per kilo jreattrdajr Noob (per Ulo) Srilm tat. 1 R.S.S. prompt f.o.b. 314J0 31(.0M lot 1 R-S.S. lurch Mf« 2U.00 tat 1 RJJ.S. April MJO MJO tat 2 R.S S m00 2S7 00N UK/Coot MOO, MM taC»RJ.S. 283.00 2MJM UK/Coot moo BUM IBL 4
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    • 61 4 NOON SSR aad SMR pricas y mmtimr tAfl T *f Hard (CirTNt 8 MftOO mto i a IMth) m MBBLft 41-taa Balk iB«»» jWW tKOON "aas? SQT •Ban mjo* .MW III Marah IIUI) *7 00 m.00 £8 292 00 moo MU*t JASOON 314 OOM .88 OUtN mjiN
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    • 56 4 THE Strattstto price la ESTjSr I^ u y^?s! $5» »Wv« the farte» tttMl til AgVMMI inim nfti CtiiitlMi held steady, wttk tiMtlMfii Juiaew, EirtMti asd IS til——bm iemsai, Mi MM| the sletitMSß in Uain m amSTi tfftre^Sl rnlwn efcechrf the re- Tuiiiiihtrniei to 172 tnM frtm 141 tones
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    • 28 4 Rubber: Mar 7 Singapore: Mmk 318.60 centa (down 2Vfc cents) Malay aim: > April: 336.00 centa Tin: M*2,470 (down Msl) Official offering: 172 tonnes (up 30 tonnes)
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    • 331 4 SNGAPOBB: Yesterday's closing prices In SI per kOo, ex-godown: THAI WHITE: 160 pa* cent first cUlm (Kangaroo) new crop 0.98, l« per cent second class 0.81, 100 per cent third clam 0.81, 35 per cent new crop no stock, B-10 per cent 0.70. THAI BROKEN: 0.0, Special 037. THAI
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    • 192 4 TARN and cotton prices we» quoted u follows in Hongkonft yesterday: (la HK doOan, spot ex-go-dowa) (Mai nn: China H» Phoenix Ik 2J30; Hi UN. «I MB (per bate <rf 406 lbe). Plane goada: China Butterfly and Globe brand uaq Dragon Head aaq; Five Lamba nnq; Flower and Butterfly
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    • 185 4 CHICAGO Board of Trade soybean futures closed on or near the lows on Thursday, down 10 to SVii cents per bushel. With prospects of Increased competition on the world market from Brazil, commercials backed away from the market, allowing local and commission house stoploss selling to push the market
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    • 903 4 COVTEE: Futures extended opening losses la most positions to close the morning £16 to £33 per tonne down from Thursday. Turnover was 2,581 lots including seven options, and one block of 300 lots cross traded in March at £1,603. Spot March recovered to end the morning session £16
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    • 149 4 CHINESE Pra4aeo ExekH|«, Shgipm, dating priees per pieal yeatertfaj: CiPwt «II: Bulk $102 sellers, old drum $108 sellers, new drum $112 sellers. Oepnt: Mixed (looae) UK/ Cent $».00 buyers. Pepper: Muntok ASTA white fob 100% NLW $332.50 sellers, Sarawak white fob 9«% NLW $317.50 sellers, Sarawak special black
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  • ASIAN STOCKS
    • 393 4 TOKYO Reuter SHARE prices dosed sharply lower yesterday on growing concern over the possibility of another increase in the Bank of Japan's official discount rate, dealers said. The Dow Jones average fell 110.91 to close at 6,625.18, with volume of 300 million shares. The Tokyo Stock Exchange index
      Reuter  -  393 words
    • 326 4 THE market fell yesterday on easier base metal and gold prices, dealers said. Speculative diamond and oil stocks led the decline, with Lefchanh falling A 82.50 to $11.00. BHP lost 35 cents to $13.20, while among shale oil issues. Southern Pacific shed $1.50 to $16.00 and Esperance 50 cents
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    • 315 4 Source: SHK Sec THE MARKET collapsed yesterday under heavy local selling prompted somewhat by the fall on Wall Street and strong rumours of an emergency exchange banks meeting to discuss interest rates this weekend. All of the fall was registered in the morning and good support was seen in
      Source: SHK Sec  -  315 words
    • 66 4 THE market eased across the board yesterday, dealers said. Turnover dipped slightly from Thursday's ILB million pesos to 11.4 million. hm JMM aouoo mm M lftJD ua BM *M OJMH 41 -MM -U uneta aach *um -*nm -u Mfftko Oriental B PhU OwaM A Ml -ojw Ptilkci B JW
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    • 155 4 MAX m Bahta ♦A IM Art* fta im 411 ♦I "■■t*-* Nflon M« Aata__— MB Bart Joekar Carpat In tarNMootl Charoooc Thai y» wn ♦4 Owu Baal Dotal Thanl IM TIIIM 4-1 Oanaral Pinanca Mt Oootaw IndoThai flgmUtattet .0 Induatnal FtaaaO* On IMnittaul nr—mm mt And m m 4
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    • 52 4 FINANCIAL TIMES INDU8TMAL8 Thursday 458.0 Wednesday 460.4 Week Ago 406.1 DOW JONES AVERAGE INDUSTRIALS Thursday 82E07 Wednesday 844-88 Week Ago 864.44 H.E.HANC SENG Friday 833.86 Thursday MtJ> Week Ago 91 CM SYDNEY INDUSTRIALS Friday «36.8» Thursday 042.73 Week Ago 66&J7 ALL ORDIN AEIE8 Friday 881.09 Thursday VTtM Week
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  • Page 4 Advertisements
    • 115 4 JtsMl ,;V I 3 j* 3^li -v. *WK SSfti if B jni V r«AW*.: if. •>#.• T l£V r y $Sr, u ort i^e r co \orno erf («i»tp oal -a |,-f. 1 IIJHB r# ,AU*j. 4 Writes John TWohey of the Chicago Tribune: "No one seems to have toW
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  • OVERSEAS
    • 259 5 WEST Germany must export more to reduce its current account balance of payments deficit, estimated to .reach around 20 billion marks this year after DM9 billion in 1979, Bundesbank vice-president Helmut Schlesinger said. He added that the central bank would oppose deficitcutting
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    • 130 5 Reuter THE spot oil market will probably continue to playa smaller role this year, with first quarter spot trading estimated at some 700,000 barrels a day versus a peak of about three million barrels a day last year, industry sources said. Opec crude production
      Reuter  -  130 words
    • 214 5 Reuter PRIME Minister-designate Robert Mugabe, immersed in forming a broadly-based Zimbabwe independence government, intends to lift martial law and the widelyimposed overnight curfew as soon as possible. Spokesman EdtfisOn Zvobgo told a press conference on Thursday that the lifting of martial law, imposed across about
      Reuter  -  214 words
    • 103 5 Reuter WEST German Chancellor Helmut Schmidt said the Soviet Union could not be expected to pull its forces out of Afghanistan if it believed the West would move in to replace them. Explaining his view of a European proposal for the neutralisation of Afghanistan, Mr Schmidt said the
      Reuter  -  103 words
    • 243 5 AFP PRESIDENT General Muhammad Zla ul-Haq (aim), has advanced three proposals to the Soviet Union including the stationing of an international peace force in Afghanistan to defuse the crisis. Gen Zia also suggested Inspection of Afghan refugee camps in Pakistan by an international body
      AFP  -  243 words
    • 84 5 AFP THE US is considering a proposal for a consortium of Western countries to provide aid to Pakistan, US Special Security Adviser Zbigniew Brzezinskl said. Mr Brzezinskl said Pakistan rejected the US offer of a US$4OO million aid package because it considers aid from other
      AFP  -  84 words
    • WORLD IN BRIEF
      • 650 5 Agencies MOBIL Oil Company has discovered a new gas well 19 miles southeast of its huge field at Arun in northern Sumatra. A spokesman for the Indonesia's state oil company, Pertamina, said the well was named South Lho Sukon A-3 and a test showed the production capacity
        Agencies  -  650 words
    • 300 5 IRAN'S revolutionary council has unanimously accepted the request by militant students holding 50 Americans hostages in the American embassy in Teheran that the council take charge of the captives. Iranian Foreign Minister Sadegh Ghotbzadeh said the methods for handing over the hostages would be
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    • 418 5 Reuter THE UK had a current account balance of payments deficit of £2.44 billion last year following a deficit of £674 million in the fourth quarter and an upward revised deficit at £238 million in the third, Central Statistical Office figures showed. In
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    • 269 5 THE newly-formed amalgamation of the 13 steel unions Is to meet British Steel Corp management next week lor negotiations based an fresh union proposals. strike leader Bill Sirs said. He said the 10 union representatives at that meeting have the authority to call off the
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    • 63 5 AFP THAILAND enjoyed a surplus of almost 7,000 million baht (SfTOO million) in trade with Asean colleagues during the first 11 months of last year. The total trade surplus included 2,763 million baht with Singapore, 2,455 million baht with Indonesia and 2,308 million baht with Malaysia.
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  • Page 5 Advertisements
    • 158 5 FIRST TIME EVER OFFER! NOW GET A US S WHEN YOU FLY Here's great money-saving news. Now, when you fly a round trip you'll receive a US$l5O discount coupon on your return flight It entitles you to wßm US$l5O off on your next Pan Am trip from Singapore. This offer
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  • 408 6 THE TRUE practitioner of entrepreneurial skills is not dead. He lives on in Hongkong, very occasionally descending on Singapore to turn a quick dollar or two of profits. Today's tale of men who can extract a ldlo of value out of yesterday's Junk is a
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  • 322 6 ARGUABLY the only people who groaned on Wednesday when Mr Goh Chok Tong announced his reductions in personal income taxes were those the whole world loves to hate, the muchmaligned staff of the Inland Revenue Department under Comptroller Hsu Tse-Kwang. For the
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  • 1959 6  -  By NORMAN MACRAE "JAPAN", says that admirable report from America's comptroller-general, "encourages Its strong industries; the United States protects its weak ones. The United States reacts. Its conception of early warning is based on Import statistics of the goods which arrive." The American Congress (still
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  • Page 6 Advertisements
    • 150 6 Auvi wi bring together the most sophisticated audio-visual, hi-fi equipment and related LV» services available. This will be an excellent opportunity for manufacturers and suppliers to demonstrate their highly-advanced equipment. Auvi '80, to be held at the World Trade Centre from 2-6 July 1980, will be widely promoted throughout the
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    • 28 6 ICHSO iE=T3I •Science-Fictton|«Come<Jy •Drama •Feature Films •Cartoons •Rock-Oisco-Concerts l*Sports •Learning Seff'Development Etc. PRE-RECORDED VIDEO CASSETTES IN COLOUR FROM U.S.A. 4 EUROPE r. .Jl LhkMi Kill iinil M from
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  • Page 6 Miscellaneous
    • 1150 6 IIfSRWTOIIQ! THE PIED PIPER 1 I hy all ae- l> M feat fee Not* SINGAPORE 5 1.00 PM Opening and Sesame Street 2.05 Satwday Matinee The Pied Piper 3.35 Pro-Olympic Footbal Tournament Singapore vs N. Korea 4.30 The Naßom The Journal 5.15 Sandiwara Tuntutan (repeat) 5.55 Johny Cypher 6.10 Hanyu
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  • 979 7  -  HOW TO FIGHT ACQUISITIONS Corporate takeover activities sre not uncommon in Singapore. CATHERINE ONQ discussed this subject with Richsrd Cheney, known as America's foremost proxy fighter, who was in the Republic recently to attend a conference on mergers and acquisition. Mr Cheney is executive vicepresident
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  • 1345 7  -  By FOO CHOY PENG WHETHER Areas countries will benefit from the cooperation agreement slgnsd yesterday in Kuala Lumpur with the European Economic Community (EEC) will depend extensively on the Asean business sector. As leaders of both regional groupings put it, the agreement
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  • 763 7  -  [FORUM J ,With ANDRE FONTAINE NYT WHAT HAS come over the French communists? For years they have been increasingly critical of the Soviet Union. In June 1976, their leader, Georges Marchais, told a conference of European communist parties in Berlin, in Leonid Brezhnev's
    NYT  -  763 words
  • Page 7 Advertisements
    • 151 7 Business Times is the most cost-effective medium you can buy. \burad gets more bite in Business limes Everyday 30,000 people make it their to capitalise on this particular strength, business to read Business Times: local What's more, Business .Times is surand expatriate businessmen. The industria- prisingly cost-effective. Its competitive lists,
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 239 8 MAR tt Frt CORBKILLE Alr-UquMa BIN Otrvaia Car (Thomaor Cte daa Pitrota Compazine PUuuadM* 1 1 8 1 LI -a -a ♦i THJO -si Conptfnic Otnmk Cradlt PaneWr Da rttnct MftJO 452 42 unch Hacbatu (Ubralrta) at J Mirhin- Bull auo SI MtetoaUn (B) PmrttMu PeclUne; Clglna Kuhlmann rm
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      • 111 8 MAR M m FORWARD MARKET Acec mm SOB unch Aran Aatur 1 Braacan Bra-Limb TL Mi TH lflOC H-l ♦< > i U ur Canpac Cock Da Baart 121( SM SI 1«70 m tm M i -V -4 •1 i -a i -i k ur .1 1 1 teh
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      • 167 8 M Ai AR 06 t •C-TeWfunken fen MJD A. m A. kao lis Laban II* Van BJ» unch ■mo -u 376-00 -t BAST MUi -13 Bar H T Wbank SUI -I a*; vtui am 4 ■tfV IBM -U BBC MB -U BOT- MM» -1^ cotiu oumi mm DiUr-am BUI
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      • 171 8 MAR M ASM AbOid Fit zzz nM •a -A4 Akao Kl« -0J AMEV MM ♦OA Amfaa Anro Bank MUD MM 41.W lasjo OA -1J -1 A3 £T; Kris #1.10 -A3 Borsumij Bytnkorf mat MM ZZlSS. MM •1 OA ♦OA Cmiw DM DtM kiU -U -A3 Emu* Pofcfcsr 131M «M
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      • 32 8 ii**l y T ft" 4-» •j [TflHI Br. MTO -40 Vakm Ban* Of -11 Wlnlarthur |gg Zurich Insuf Bw 136A0 tuneh Incur R*t mm •Mi Otdtt lita Cradlt SutaM rood»-Inl MH
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      • 75 8 MAR Ajaoc Otn Urt S2S. Mt rt.t i PlnaMcr On iBinot in rwi V U -4 4.T8 SB 41 M -1 at JM W> uncb j. m -1 mm *m Mnnrinnri Montadm MoUa Bio m ITS -1 LIS m ITS M onn ort Mi niM pri 1*1 1A 1
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      • 147 8 HAM m cs tin -l e -ft OH -ft in w BF CM! -4* rT'lvHC lit B* MM 1* ■n Canpac WH -ft B Canpac ln» Pf Caiilnf OTKmH l r i n -ft Din>o» ft -H Dob BIOTM 2 Ooaa TV f TM 1*4 -4«k r^j-Tp^r 1 m
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      • 215 8 MAR Rand INDUSTRIALS A Alpha Xm uneb 710 m M 1 uneh 100 ill MB BO m UPCfa -a i Kvaraad* Fad Volt 430 I uneh M rucn LID uneb Otrtttn OtananJ HIdoo Hive id OS Ubartjr Lonrbo 235 Mattel z uneb uneb rat. so UDCtl Ok Bm 140
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  • Page 8 Advertisements
    • 90 8 Where to wine, dine and entertain IF YOU'RE LOOKING FOR A SUPERB WEEKEND TREAT... COME TO OUR i *<s r\ sr Our chefs can whip up culinary delights that would excite even the most demanding of emperors. Here at The Chinatown, we serve Szechuan specialties. Name your favourites. Or ask
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    • 158 8 I I L for sushi. For teppanyaki. For other authentically Japanese delights. Opt't) cinik" 12 noon 'ipn: 6 ol)p. 111 I(> ,'•>'()}) m for rcst'ri'ations call aS'7 i>L S I'jl rk H ***** l *"">ll liil l{ H tr< r+S t > A J Ri a9&f rs mJ oo msgp&i
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    • 136 8 See Page 4 for Asian stocks See Page 9 for NYSE prices JL. *3 'U 3;- :¥> VI M Vc •V mb TL hi Merlin s unique Disco Qub of the 80'». Experience its wizard? in light, sound and show spectaculars CBfltldy turning the dbco scene into a thing of
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    • 187 8 Singapore-style Hilton style, lab At the Top of the Hilton, it Hi n s That s a here you get a selection of typ.caliy Cantonese 'avountes And our very own Flavours of S ngapore No mess No noise Just great cho a In the comfort and serenity of the Hiltcn
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    • 259 8 The Emperor Deluxef fnr 500 doo* lodav. the special dbh of the Oriental! Ten ingredients and a secret recipe go into its making. Ask about it and our menu of special dishes. You'll also find our Tim Sum the best in town. Try us, the proof's In the tasting! Vfcwtalmnyman.
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  • BANKING AND FINANCE
    • 319 9 CURRENCY STABLE Reuter HONGKONG ,hankers said they see no immediate need for increasing interest rates, even though a rise has been widely anticipated by businessmen in the colony. An increase in interest rates in Hongkong is not warranted simply by the
      Reuter  -  319 words
    • 102 9 Reuter CHASE Manhattan bank vice-president Richard Aspinwall said American prime rates could reach 19 to 20 per cent before peaking and will probably stay high for the remainder of 1980. Mr Aspinwall, Chase Manhsttsn Bank's chief economist, said during a visit to London that
      Reuter  -  102 words
    • 295 9 BRITAIN, encouraged fay West German Qiancelhr Helmut Schmidt, is reviewing afresh whether to Join its Common Market partners In the year-old European Monetary System (EMS), informed sources said. They said Mr Schmidt, who had talks In London with Prime Minister Margaret Thatcher at the end of
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    • 527 9 A SUBSCRIPTION agree- ment has been signed for a US$5O million rate note issue for Banque Nationale de Paris, lead manager National Bank of Abu Dhabi said. the seven year issue, priced at par and carrying interest of M per cent over sti month Libor payable semi-annually
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    • 220 9 BANK of Tokyo was the top lead manager for loans syndicated on behalf of borrowers In the Asia-Pacific region last year largely by virtue of the US$2 billion loan it arranged for China and without which it would have ranked eighth.
      220 words
    • 122 9 PERTAMINA, the stateowned oil company of Indonesia, has given the mandate to Asian Merchant Ranking group of American Express International Banking Corporation to act as financial adviser .to the Dumai hydrocracking projects. The hydrocracker will have a capacity of 85,000 barrels a day. When completed, it
      122 words
    • 128 9 Reuter MALAYSIA will try to switch the external borrowing emphasis in its Fourth Development Plan (1981-85) from floating to fixed rate instruments, said Tan Sri Ismail bin Mohamrd Ali, Governor of Barik Negara. The plan,'now in preparation, will continue to raise medium and long term
      Reuter  -  128 words
    • 1333 9 NEW YORK THE NEW YORK stock market oil Thursday suffered its worst setback this year based on the total of declining issues as rising interest rates and inflation discouraged investors. Declines overwhelmed advances 10 to one, the worst ratio since last October. The Dow Jones
      1,333 words
    • 433 9 THE FOREIGN exchange market was fairly active yesterday. The US dollar strengthened against major currencies at closing except against the yen. Prom an opening of 248.65/75, the dollar firmed slightly against the yen to 248.70/80 when Tokyo closed. Intervention by the Bank of Japan at this level resulted
      433 words
    • 118 9 THE US. dollar yesterday opened steady on Fur East and overnight New York levels, with the market looking set far a quiet day, dealers said. Many operators are now thought to be holding back from the market owing to this week's aggressive central bank Intervention to brake the dollar's
      118 words
    • 22 9 THE average rate al which major Singapore banks are currently prepared to lend to their best customers is 10.8 per cent.
      22 words
    • 140 9 ASIAN ASIAN currency deposit Interbank rates as at close on 11 arch 7: UgPdUngp) 7 days 1TK 17V* 1 month ltv* It 2 months 1SH It* 3 months ltH l«v. 6 months isv, ish months 183/16 UU1( 12 months 1713/lt 1711/lt SvJtas. Das. 1 month 3 months months 12 months
      140 words
    • 37 9 RANGE of prtc— aOcrad fey dto-T-?K? T CkB dcfxvtt*: IM »V,% S3«*f 3-month Treasury bills 61V16 «11/1» Smontb Bank bills 10H iov« 3 months CD 111/1« 101&/16 6 months CD 11 10H Source: National Discount Co
      37 words
    • 42 9 RESULTS of tender held on March 7 far 91-day Treasury bills, to be issued from March 10 to March 14. (Mtavedt $*****000 Apphed tor: $85,000,000 ABsttsd: $40,000,000 Aeesptod Mds: |MJ7 and above in fall. an alMsart: IMS per cent
      42 words
    • 333 9 GOLD futures in Singapore yesterday closed sharply lower compared with overnight levels ia generally this trading, dealers sakL Trading was "T—for one hoar yesterday morning ss prices opened limit-down «cross the board owing to the metal's sharp fall in New York on Thursday night. The market, however, recovered marginally
      333 words
    • 96 9 THE MAJOR curieiias traded quietly yesterday in lint with New York levels, with most operators on the side Uses apprshtaslmj about Baadssbaak markFollovlag the heavy underpinning at the German currency la the Far Bast oa Thursday, most opera tori operators were hesitant to enter the maihet yesterday Bat dealers
      96 words
    • 120 9 THE UA dollar lor over- night delivery yesterday closed (Inner at MB.* yea I ossapaied with s 240.10 opening and XTBat Thurs- day's dose, despite strong-*» central baak yen-support !■>■ umina, dsahrs saki. Trading was active with f The Baak of Japan add.* sa ssthnalsd ****** mil- boa, malaly
      120 words
  • Page 9 Advertisements
    • 50 9 i A TIMES DIRECTORIES PUBLICATION for enquiries please telephone *****11 (3 linesH Robinson's Bookshop Basement, Clifford Centre, Col Iyer Quay. Tel: *****. TimesOrchardCentre Robinson's John Little's M 106 Lucky Plus (mezzanine floor) Orchard Road Tel *****71 *****18 Speci»li itj Centra, Orchard Rd. Clifford Centra, Rafhet Place 4th Floor Plata Sinf«>ura
      50 words

  • 1978 10 BID and offer prices officially listed and buitnm in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. SECTION ONI INDUSTRIAL COMMERCIAL Aemm (1308) (11)
    1,978 words
  • 127 10 (OilM|» M«) LM LB The Savtaga Fund LSI LCtad S'pore Prog tad ui ua S'pore Sec rod LM LB MAMA BUMD Pf^BA S par* him Pad L4$ 1ST priM Mr Mar N) S'pore Eqattjr Fund LM LIT Pint B>mi Mai B'putrm 4.M IM AM LM MUDWtl MaJtawSTTaJd 111
    127 words
  • 2782 10 Gr's Gr's Net 1979/1960 Last Div Dhr TM P/E Vol Day High Low Coaipaay Sale +or- CVr COOO) High Low SECTION ONE INDUSTRIAL ft COMMERCIAL 370 207 Aetna 328 •18 15.0 12 43 163 214 346 322 223 123* Alcorn 223 10.0 13 4.4 217 149 no
    2,782 words
  • 2089 10 BID and otter price» officially I listed and tnuliw in reported to the Kuala Lumpar Stock Exchange yesterday with the number of shares I traded shown in brackets in lots of 1,000 units, unless other1 Mill Iff I 1 wup specmca. *1 mwnvuu An* (1MB) (1) AM
    2,089 words
  • 505 10 PBOPTT-tekan awing a I ta large —kw»i» flltek t«rt>y aad mbm ra££ ever a kraad treat. Otanwi mM that dedtM «we man the rale thsß Ike nnepMss, aid ms^irisi^ the etattag Bat mlyste mMh aald Ike deaateia waa Jwt a carrepftaa aai the irtrt after
    505 words
  • 622 10 SELLERS swamped the Kuala Lumpur stock market yesterday, forcing prices broadly lower in active trading. But thanks to a late burst of buying support, prices recovered some ground to clone off their day's lowest levels. Losses were still quite steep in many cases at the
    622 words
  • LATEST RESULTS
    • 45 10 has an- nounced a pre-tax profit of $409,882 for the year ended Sep 30,1979. The company previously reported a pretax profit of 9986,207 for the sixteen months to Sep 30, 1578. Net profit was $309,882 ($988,307 for the 19-month period ended Sep 30,1978).
      45 words
    • 25 10 has announced a net loss for the year ended Sep 30, 1979, of $347,885 ($939,48 for the sixteen months to Sep 30,1978).
      25 words

  • COMPANY NEWS
    • 702 11  -  By P GUNASEGARAM CENTRAL Securities has been dragged deep into the red, with losns coming mainly, from commodity trading (which has since been stopped) and whollyowned subsidiary Eiwa Sdn Bhd which ceased operations last August. The group has reported a pre-tax loss of M 32.42
      702 words
    • 320 11 GEORGE Kent (Malaysia) has announced a one-for-two boons issue together with a 12 per cent final gross dividend fallowing better-than-expected earnings achieved. The final dividend, together with the 8 per cent interim, makes a total distribution of SO per cent
      320 words
    • 88 11 WEARNE Brothers in Malaysia has announced two senior management appointments in a move described as "the first stage in a new and aggressive approach to the car and commercial vehicles' market." Mr Chris Robinson, an engineer, will take over as general manager of automotive operations, while Mr
      88 words
    • 239 11 GENERAL Leather (Holdings) said it knows of no spKial reason tor the substantial turnover in its securities, and there are no matters of importance pending announcement. The company was replying to queries from the KLSE on the substantial turnover in its securities. U*ted Meter Weeks (M) 8Vi per
      239 words
    • 238 11 FT A STAtIC second half at Yule Catto, with profits almost unchanged at £2.08 million, compared with £2.12 million, left the industrial and commercial group with h pre-tax surplus of £3.39 million far the full year ended Oct 27, 1979 (£2.8 million previously). Turnover
      FT  -  238 words
    • 364 11 LOWER tin output at Ayer Hitam Tin Dredging is having a telling effect on the group's earnings in the current flnanrlal year. Even the higher tin metal prices have failed to offset the frop in production. Group pre-tax profit for the six months to
      364 words
    • 319 11 LINGUI Developments, the once little noticed tin mining company now in plantations, has proposed a special issue of four million shares of 50 cents each for bumiputras. Lingui's advisees, Asiavest Merchant Bankers, informed the stock exchange of the special offer, but did not
      319 words
    • 210 11 BATU Lintang Rubber Company has recorded a significant rise in mid-term earnings, helped by an increasing acreage under mature oil palm and the better prices of palm ofl and rub-Pre-tax profit for the six months to Dec 31,1979, rose by 17 per cent to 104.02
      210 words
    • 438 11 Carroot Payaieat Ex Data Books Close Date Payable Total for Total for Ike year Preriooa y< r H 8 <8> TH8(M) Partis Plaat LUfni B Ktwtt Priaa K L Ktfoif Ul» Beaat 8*1 Nats M'ala Rica 8 P Textile Bobl—oa T CmmiI U AC B Liatsnf MBS A
      438 words
    • 142 11 Cob pa ny Particular* Ex Date Books Close M U lad Ttatrlok Sine Darby Client T Text Pan Malayan Rights Issue of 1 lor 1 $32.00 Bonus Issue ol 1 tor 1 Bonus Issue of 1 for 3 Bonus Issue ol 1 lor 2 Bonus Issue ol 1
      142 words
    • 475 11 WTO- by HOCK LOCK SIEW THE sharp fall in the market yesterday must have come as a surprise to even the most cautious bulls. By the end of the day, the Straits Times industrial index had lost a hefty 9.13 points to 494.98, significantly
      by HOCK LOCK SIEW  -  475 words
    • 268 11 Date La ■trefl Year Campeey PerM AmumI Net EPS Great Pie lei Im* year <«■*> Dir. v PreAt M'wata Steel I 22/12 12.4 10.0TE 14,803 Nat Iron F 7/2 57.8 al7.9 37,679 UOB F 27/2 19.0 alL4 3M29k BATS v F 1/3 5.1 17.0 3,983 Sealion v F
      268 words
  • Page 11 Advertisements
    • 71 11 a SENIOR CIVIL SERVANT who feels he w she should he doing something else The Straits Times Group wants you if you are 35 or younger and are seeking a bigger challenge or much wider scope. Write to: The Managing Director, The Straits Times Group, S.T. Box ***** Singapore 1953
      71 words
    • 334 11 why not be a P XV, M Tbp men earn top money when qualified Full training for UCTA Diploma Exam. The man in tha car could be You The house and family could ba Your*. With you in a prosperous new job enjoying a new lift a happier a mora
      334 words

  • 295 12 ESSO Singapore plans to set up a team of energy conservation specialists to identify areas where energy consumption by its customers can be reduced. An Esso spokesman said yesterday that this Is part of the company's service to its customers and when implemented,
    295 words
  • 62 12 THE Minister for Finance will be asked (or details of the numbers and citizenship status of Division One officers recruited by the Government since 1965, when Parliament next sits on Mar 14. Mr Ang Nam Piau (MP for Thompon) wants to know how many of these recruits were
    62 words
  • 557 12  -  By FOO CHOY PENG SINGAPORE'S Foreign Minister said if the Kampuchean issue is handled well, there is a possibility of increasing the votes foe the UN Resolution against Vietnam when the issue comes up for discussion again later this year. Mr S Rajaratnam pointed
    557 words
  • 399 12 IN A joint statement on political issues released yesterday, Asean-EEC foreign ministers strongly deplored armed interventions by foreign powers against two non-aligned countries in Asia. They referred specifically to the continuing Vietnamese intervention in Kampuchea and the Soviet military intervention in Afghanistan which have as a common
    399 words
  • 792 12 LONDON, Fri. The market closed lower after quiet trading, dealers said, and at 3pm, the FT index was down 4.3 at 453.7. Sentiment was depressed by the upward trend in US interest rates with Citibank and Chemical Bank raising their prime rates to. a record 17% per cent.
    792 words
  • 200 12 Reuter WING Lung Bank of Hongkong said it will offer five million nominal HK$5 shares, or 25 per cent of its issued capital, for public subscription. Wing Lung Bank said in a statement two million of the shares represent a new issue, which will
    Reuter  -  200 words
  • 595 12  -  By TEO TECK WENG MANY architect! doubtful about the Implication» of the new building contract introduced last November by the Singapore Institute of Architects have avoided using the document. They feel that because the institute hss no statutory power to enforce the use of
    595 words
  • 392 12 SENIOR accountants in Singapore are annoyed that internal disputes on rulings pertaining to election procedures in the Singapore Society of Accountants (SSA) Rules should be brought up to Parliament Recently, the MP for Telok Blangah, Mr Rohan Khamis, had indicated he will ask Finance Minister Hon
    392 words
  • 284 12 MING Court Hotel has obtained approval in principle from the building authorities for its proposed five-storey hotel ritf—lf that win add 98 rooms to the present 298. The extension will be built on top of the hotel's existing multi-storey car park which has
    284 words
  • Page 12 Advertisements
  • Page 12 Miscellaneous
    • 66 12 iWEftTHERi Outlook for Singapore from 6 a.m. to 1 p.m. today: Showers in several places from late morning. Report for 24 Imus prtor to U p.m. m Mar 7 at the airport. Maximum temperature 31.6 Associated humidity 66 Minimum temperature 24.3 Associated humidity 96 Hours of sunshine 3.75 Rainfall in
      66 words

  • LEISURE TIMES
    • 208 13 EXECUTIVE FUHIOI BEAUTIFUL clsthes are ttne that carry eliak aid timeless appeal, Even trendsetters will fiad it hard to Had faalt with the wards classic sad timeless. They wsaldnt Jut cut them eff as beiag sltra ceaservattve aad sadly limited is imagiaattsa. Sherry (right) sits pretty
      Photos: Mazlan Badron  -  208 words
    • 466 14  -  By RUTH CHENG EXAGGERATED, simple and sometimes even a touch on the vulgar side, Love at First Bite (at the Lido) is nonetheless hilarious. Nothing subtle here, nor are there any pretensions towards wry humour. Count Dracula is a clown, his devoted manservant Renfield is
      466 words
    • 655 14 IN THE SLOPING gardens of the Palais du Chafflot in Paris, behind the huge bronze doors that crown a flight of stone steps, perches Henri Langlois' Museum of the Cinema: the most film museum in the world. Beginning on ground level, it burrows through the earth In
      655 words
    • 250 15 ENGLISH comedian Ronnie Corbett the dimunitive half of television's "The Two Ronnies" will appear (or one night at the Hilton's Grand Ballroom on March V. The Thursday evening of entertainment will start off with cocktails at 7.30pm followed by more solid diet at B.lspm' The laughs
      250 words
    • 84 15 I CANCER risks of the artifi- cial sweetener saccharine have been highly exagger- ated in the last decade, a study published in the New journal of MedtJ cine concluded. The study, conducted by University's «-Health School, said that a person using one or two saccharine tablets daily runs
      84 words
    • Article, Illustration
      845 15 Sarawak's fabulous and dazzling beadwork displays are one of the most seriously endangered of the traditional Malaysian crafts. How long more will Sarawak beadwork survive as a living craft and an honoured legacy which Malaysians will be proud to keep alive? Will the craft be swallowed by the
      845 words
    • 1355 16  -  22nd Olympiad HO Asia Group 3 SINGAPORE By RONALD KOW SO, CHARMING China did as they had to two nights ago in the Asia Group Three Pre-Olympics Football Tournament beat Sri Lanka by three or more goals to pull ahead of sensational
      1,355 words
    • 1007 16 ■OTORIffl with "Hermes THERE are many factors which influence the design of a car. Customer preferences, legislative requirements enforced in different countries, such as those on road safety, energy conservancy and environmental compatibility are a few of the more important criteria. These
      1,007 words
    • 225 16 GOLF: At the Changi Golf Club this morning, the Ladies Monthly Medal will be held. Over at the Jurong Country Club today is a 4 C' monthly medal. It is strokeplay competition. Also today, at the Keppel Club, is its *C monthly medal a strokeplay competition. A bogey competition is
      225 words
  • Page 13 Advertisements
    • 60 13 Ricoh Plain paper copiers Preferred by offices worldwide CALL *****5. Wywy Private Limited Wywy House. 17 Lena Kee Road, Good-looker George turns into a lippouting II Film treat from the EEC H Are the days of Sarawak beadwork numbered? 11l Well, will it be charming China or aeneational Singapore? IV
      60 words
    • 67 13 It's I THE THINNER the better seems to be the trend. The ultra-thin quartz analogue watches featured here are only I.Bmm thick!. In solid gold and a black leather strap or, for a dazzlng effect, gold and diamonds, also with a black leather strap, they are undoubtedly up-market. For extra
      67 words
    • 188 13 Trust Sony for your video needs Wendy Mutton's IjWi ....more than just a cookbook! Here, for the first time, is a local cookbook that lives you more than just recipes. More, A Hi in 11 ml f■ lIM I'M too, man lots or fascwaunf and relevant Monaation about Sinfaporean inpedhnb
      188 words
  • Page 13 Miscellaneous
    • 840 13 WHAT WHERE J RECITALS THE Ministry of Culture will present the repeat of its "CwMfti tar Ike Tens' aeries at 2pm at Toa Payoh Branch Library. The performers are Montford Junior School Harmonica Band and Vocal Group, Cheong Shu Li, Lim Hwee Ling, Kuah Lay Khan, Ang Beng Kiat, Winnie
      840 words

  • Page 14 Advertisements
    • 691 14 Birdy* William Wharton 'An wwaimnt' Mtw Vo/Hr Times 'An extraordinary achievement—Washington Poat 'h aoersl' 77me The story of a young boy's need to escape and his consuming obsession with flight, Birdy has astonished critics, readers and booksellers worldwide. Playing Politics Michael Laver Cheat your friends at 'Entrepreneurs', outwit them at
      691 words
    • 120 14 EEC film 4 t v. V m: i i -7 V, y T>*! v s BT MM IT WW SOONC >s THE European Community will present a film festival next week. Tickets at $2 are available at C K Tang and Cold Storage. March 11 (Tuesday) ITALY a documentary and
      120 words

  • Page 15 Advertisements
    • 107 15 K o L i I I fey 2 m s rrv '"The Times Heritage Collection The magic and mystery of India are captured in this enchanting collection of stories. Well illustrated and simply told, this series of 4 bilingual Indian folktales have been compiled and published locally to provide rich,
      107 words

  • Page 16 Advertisements
    • 72 16 N» A y* i P o'F siV fhf y^ "roJ Tk y Onrj y 0 v.Jnd f\f n Jh^L, nTT; "9 f eT^TfiTT -^SJ^nkinq e 9am e Priced $30.00 ORDER FORM Mr/Mrs/Miss. Address To: Federal Publications 1, New Industrial Road. Singapore 1953. Yes, I would like The Edward de Bono
      72 words