The Business Times, 11 July 1987

Total Pages: 16
1 16 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 112/12/86 Weekend Edition, July 11-12,1987 75 CENTS
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  • 187 1 Overseas markets Friday HK Hang Song Index 3207.21 (-1876) Tokyo Nfckel Average *****.99 347.09) Sydney AN-Ordinorles 1915.3 (+16.7) Thursday New York (Dow Jones) 2451.21 (-12.75) London (FT 30 Index) 1846.1 (+18.9) Exchenge retee THE S$ finished lower at 2.1230/40 (2.1210/20) against US$ yesterday. It roee against M$
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  • 570 1  -  Chance for Hong Leong group to take part in big office project By LEE HAN SHIH Property Correspondent CITY DEVELOPMENT LTD has entered into an agreement to buy two pieces of land in Raffles Place from the Oversea-Chinese Banking Corporation
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  • 442 1  -  ■y ELAINE KOH METRO Holdings Ltd's proposed stock split has been turned down by the Stock Exchange of Singapore, apparently a decision meant to caution other companies from making it the fashion in a bull market. However, the SES gave the go-ahead for the listing
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  • 106 1 Bernama MALAYSIAN Finance Minister Daim Zainuddin said yesterday that the government would not compromise in its efforts to wipe out cheating and mismanagement in the private sector. He said that if this was not done, the confidence of investors coming to the country would be affected,
    Bernama  -  106 words
  • 455 1 AFP Bemama THE MALAYSIAN Chinese Association will hold its polls today after months of upheaval caused by a scandal in cooperative societies that threatened its support base. The polls will see former acting party president Datuk Dr Neo Yee Pan seeking a comeback
    AFP; Bemama  -  455 words
  • 335 1 IT WAS another record-breaking session on the Singapore stockmarket yesterday. Buying by local and foreign institutions and small investors propelled the Straits Times Industrial Index to its seventh consecutive record at 1371.21, up 22.69 points while the more broad-based Business Times Composite Index
    335 words
  • Page 1 Advertisements
    • 195 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM OUR VIEW SPORTS LOVERS TEND TO PUT their heroes on a pedestal, expressing disbelief when they read of conduct unbecoming of champions. But they should accept that sports heroes are human, and fallible like all of us. LEADER, Pago TO ENCOURAGE THE GROWTH of
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    • 9 1 Full report, Pag* 14 World martats, Pages A 7
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    • 9 1 Malaysian manufacturers aaak mora poattlva bualnaaa anvlronmant, Paga 3
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    • 299 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM When the hoofs come pounding in Page 9 Nm»l Trivia Trying to cash in on a cashless society Page mh So what exactly is wrong with eating meat? Page 10 TV programmes for today and tomorrow Page 10 SMS t0 Wltdi Laugh ton, Monroe
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  • HOME NEWS
    • 359 2  - Encouraging growth By JEFFREY TSANG TO ENCOURAGE the growth of the building management and maintenance induatry further, the Conatruction Industry Development Board has started a "maintenance information service" and will introduce a new category of "comprehenaive maintenance contractor" in its registry of private sector contractors. With a stock of buildings
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    • 386 2 in building maintenance industry THE building maintenance industry grew by just 4 per cent last year but while this was below expectations, the private sector turned in sparkling results with a growth of 24 per cent. Maintenance expenditure in the public sector, which makes up 85 per cent of the
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    • 417 2 Seminars and f WTm Courses Cahners Tel I C Exposition Tlx Group Fax: *****13 RS ***** *****66 > DURATION TITLE VENUE ORGANISER TELEPHONE Jul 22-23 Effective Telemarketing Course York Hotel MMS Consultancy (Asia) Pte ltd *****68 Jul 22-24 Systematic layout SIM Conference Singapore *****66 Planning Room Institute of
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    • 507 2  -  By LOH HUI YIN, BOEY KIT YIN SIGNIFICANT proposals to improve intrs-Asean economic cooperation, especially in trade and investment, are to be submitted to the heads of government when they meet in Manila this year-end. This emerged after two days of deliberations at the igth
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    • 483 2 INDONESIA'S swelling debt burden is no cause for alarm, Its Minister for Economic, Financial and Industrial Affairs, Dr Ali Wardhana. told foreign correspondents here yesterday. Referring to the country's debt-service ratio of 41 per cent, Dr Wardhana said: "It is a troublesome number, but
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    • 95 2 THE HIGH Court yesterday dismissed Workers' Party secretary-general JB Jeyaretnam's appeal against a summary judgement in connection with hia failure to pay up fines totalling $26,000 imposed on him by Parliament in January. The summary judgement was delivered against him in April by Subordinate Courts
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    • 236 2 THE NETWORK for Electronic Trsnsfers (NETS) will introduce portable PIN (personal identification number) pads when the requisite technology is available locally. When such s product is commercislly available, more restsursnts and food and beverage establishments may have NETS terminals installed so that customers can
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    • 138 2 SINGAPORE Shipping Corporation (SSC) has become the fourth container operator to enter into a priority berthing arrangement with the Port of Singapore Authority. The two-year agreement signed on July 1 enables vessels of its ship operation arm. Regional Container Lines (RCL), and those of
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    • 885 2 AT com r ENTl 39 VMNI KEPPEL WHARVES M h Arrival Amethyst Kit alongside 1107/2300 Cotomorco N Kid alongside 11.07/1500 Gold Aliso K30 alongside 11.07/1500 Jinsho K29 alongside 13.07/2300 Johnevere tt K2I olongside 1107/0600 lunar Rainbow ttO alongside 12.07/1500 M leonhardtt KI8 olongside 11.07/1800 Maya K15 alongside
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  • OVERSEAS
    • 660 3  -  From FLORENCE CHONG THE FINAL set of polls published yesterday has unanimously pointed to a Labor victory in today's general election in Australia. Labor s lead ranges from 3.5 per cent in the Morgan phone poll to 13 per cent in the
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    • 905 3 ARRIVALS Operator Sorvico Local From number thno SIA SQ11 0045 IAX/NRT UA UA805 0045 SFO/HKG MAS MH621 0140 KUL GU GA7201 0335 HLP CAL Q333 0405 TPE GU GA7101 0435 HLP SU SQ41 0615 AAAA MK MK746 0730 MRU SU SQ411 0820 BOM MAS AAH681 0820 KUL
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    • 424 3 Reuter HOUSE DEMOCRATS will meet behind closed doors next week to discuss the ticklish issue of how to raise taxes by US$l9 billion next year, as ordered by the just-passed congressional budget plan, House aides said. "The idea is to see what
      Reuter  -  424 words
    • 337 3 Reuter THE DEMOCRAT-controlled US Senate, handing President Reagan a major victory, on Thursday greatly watered down a trade bill that would have required tariffs or quotas to help US industries fight foreign competition. A provision to the trade bill passed by the Senate on
      Reuter  -  337 words
    • 186 3 AFP WEST GERMAN industrialists are rubbing their hands at the prospect of multi-million dollar orders from Chancellor Helmut Kohl's five-day visit to China, which starts tomorrow. Bonn and Beijing are enjoying politically untroubled relations, so Mr Kohl's official visit, his second,
      AFP  -  186 words
    • 592 3 Bernama ES THE FEDERATION of Malaysian Manufacturers (FMM) has called on the government to create a more positive and supportive business environment within which investors can operate with confidence. It said the most critical prerequisite for developing a dynamic and expanding economy is
      Bernama ES  -  592 words
    • 365 3 AFP A MAJOR CONFERENCE of rich and poor countries got off to a low-key start in Geneva on Thursday amid indications that the two sides will find it hard to achieve a meeting of minds on how to forestall a worsening world
      AFP  -  365 words
    • 422 3 Reuter THE EUROPEAN Community (EC) on Thursday levelled its harshest attack yet on the trade legislation pending in Congress, saying it would set back world trade and trigger retaliatory action against US exports. Canada, Japan and Latin American nations have also assailed
      Reuter  -  422 words
    • 137 3 Reuter ECONOMIC GROWTH in the Netherlands will slow this year and next, while Belgium will register lower growth in 1987 but a marginal increase next year, the secretariat general of the Benelux economic union said. In a half yearly economic forecast, the secretariat
      Reuter  -  137 words
  • Page 3 Advertisements
    • 60 3 r I Y llJl I» I V Th e business person's choice, every I I I II 111 I Tuesday, Thursday, Saturday and I Fl mI I Sund °y Leaving Changi Airport at X A J. 22:05 hours and arriving at Lester B. Pearson International Airport the following day. Call
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  • Page 3 Miscellaneous
    • 71 3 Doonesbury HE MADE WS MOVE AT THE CONSUME* EiECTRONKS SHOW IN LAS VEGAS... n ©o IBM yOU! SHOPPING FOR. A FRESH FACE TO BACK IN SS* A COMPUTER -CANPfPATB UJHO CAN LEAP THE BOOMERS IN A GENERATIONAL CHARGE, CHARGE? m 0 5* BY GARRY TRUDEAU LOOK NO FURTHER, Y-PERSON! I
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  • FOCUS
    • 751 4 Governments waking up to the problem Reuter IN SHANGHAI, cautious foreigners stay away from locallybrewed bear bacauaa tha watar supply in China's main industrial centra is so haavily polluted. In India, vast tracts of land turn into arid waste every year through
      Reuter  -  751 words
    • 439 4 Reuter A GROWING forest of skyscrapers has prompted warnings that parts of New York city are becoming a twilight zone where people on the streets can barely see the sky. "We are getting very cloee to the point at which continued
      Reuter  -  439 words
  • COMMODITIES
    • 462 4 Crud* palm oil Mures finished slightly easier on week-end profit-taking on the KLCE yesterday. Weak overseas markets coupled with absence of buying interest also saw values drifting lower. Elsewhere, there were no other encouraging leads. July lost Ms 6 to close at Ms7l7 a tonne while August and
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    • 74 4 PETROLEUM products were quiet and moatly unchanged. Naphtha traded at still lower levels. LSWR weakened on limited buying intereat. Crude (FOB origin) USS/W4 < 3»f OvM t AiMp} WM T«*o» 17.55 ♦ai2 WT1 (Aug) 21.30 0J7 Products (FOB S'pore) US$/barr«( < >onq» Kmvssrv Com* law Mpfcar Waxy
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    • 116 4 SOYBEAN futures in Chicago on Thursday closed on or nsar the highs, up 7K to three US cents per bushel in moderately light trade. July settled at U555.46 after poeting a 6%-cent range. Continental Grain continued to stop virtually all of the deliveries overnight, keeping alive rumours that it
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    • 95 4 WHEAT futurea in Chicago on Thursday traded moatly higher all day, finishing with gaina of 214 to 14 US cant per buahel in light trade. July settled at U552.62%, near the top of a four-cent range. Wheat futures appear to have found solid technical eupport around last week's lows,
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    • 130 4 THE TIN PRICE on the Kuala Lumpur Tin Market, KLTM, fell another five centa from Thuraday'a doee lo M 516.40 a kilo on increaaed aelling interest Dealer» again noted higher dlapoaala of 159 tonnes at the atart of the market as aellers became cauttoua over the fall on
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    • 271 4 MKMPOre The rubber market closed slightly lower with Aug One RSS buyers quoted at 216.00 cents/kilo, down one cent from Thursday. The market regained part of the morning losses on some short-covering snd light buying of forward position in the afternoon but trading remained light On the TSR-20 market,
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    • 280 4 RAS prices use MhAfeff M la hah M NOON QOSE tat 1 RSS Pro* ipt 217-50 218JON pvyvra 217 JO 218 JON Inr 1 RSS Aug 87 216X0 216.50 216X0 216J0 tat 1 RSS S*p 216.00 216J0 216X0 216-50 inf 2 RSS OP 210.00 212.00N 210X0 212X0N
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    • 85 4 (cam/kg, 1-tc m poMattJ AUGUST 87 SEPTEMBER 87 (currant month) (fpcwoc d month) RAS NOON NOON Bvyan S*4Wr> SAn SSt 30 1*9.00 191.00N 188.00 190.00N SSt 50 187-50 188 JON 186.50 187 JON 1 I 1 H 1 1 mnLLU bvm 5Ivrtn SMI CV 371-50 273-50N 373-50
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    • 237 4 My 10 (SI/100 kg) Coconut oil M FOB 97M OW drum FOB 107.00 Nn drum FOB IIIjOO Copra Mixod Doom) m «m 58 Poppor Munlofc whN FOB NLW 1140.00 FOB faq NLW 1125.00 Sarawak facial black POt NLW 920j00 Wade FOB NLW Lawxina 1035.00 FOB Aala NLW 102CX00
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    • 276 4 HONGKONG: Gold yeslsrdsy dosed lower on late selling by overseas interests. Bullion settled st U*****.60/445.10 an ounce against an initial $445.20/70 and New York's $444.80/ 446.30 close. On the local market gold finished HK$5 lower st $4,130 s test Coins were mixed with krugerrand gaining US$lO to HK53,465
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    • 306 4 Lonaon Commodity Exchange •vyoc/Soioc < M*( prltM on My 9 (£/«onn WIWVMNUI. Privluui (Mi poiinlhHli g prtoo* In Coffee lak In <w» 1 -ondor, ahn option OF London My 1198/1205 High/Low (11 •5/1189) 1200/1183 1238/1239 High/Low (1222/1225) 1240/1220 SotM (2640) Cocoa My 1346/1350 Mgh/l«w (1345/1350) 1354/1345 v* 1323/1324
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  • BANKING AND FINANCE
    • 1170 5 SMGAPORE: THE US DOLLAR closed firmer against moat major currsnciee on speculative buying interest especially from Japanese institutions, in moderately active late trading yesterday. Reports the Reagan adminiatration found the dollar'a recent riss "very satisfactory" pushed the currency above 151 yen. News that Japan's June adjusted trade surplus
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    • 522 5 SEPTEMBER Eurodollar opened 3 ticks lowor at 92.75 following the rally in the oil market, and ranged between 92.77 and 92.74 amid speculation of a higher PPI figure. It firmed slightly to the high of 92.78 on a narrower lapanaee June trade surplus and finally dosed at 92.77, one
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    • 339 5 ASIAN DOLLAR deposit ratea closed little changed compared with opening levels in quiet afternoon trading yesterday. Ths market generally ignored overnight rumours in Nsw York that nsxt week's US May trade figurea will show a widening in the deficit from US$l3.3 billion in April. Term ratee were steady
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    • 87 5 f Treasury bills Period Issue Yesterday's dosing Day's code Maturity BO Offf* HKJH LOW 3 nwwitfa BQ*****S 06.10.87 2.98 2.88 2.96 2.88 6 months BQ*****F 24.12.87 3.00 2.90 3.01 2.80 1 year •Y*****S 30.06.88 3.15 3.05 3.06 3.00 Government notes end bonds Period Issue Maturity Coupon Yesterday's
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    • 197 5 todfc*— avaraga of «w pnma landing rates of 12 ma|oc banks in Wlngapoca Interbank market rates (offer/bid) on July 10 I us$ DM SWFC Y«n 7 day, 1 J/l* 11/1* s/« J/« J 11/1* f/1* 17/1- J/« J J/l 1/4 1 Mh 7/* J/4 t 1/1* 15/1*
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    • 300 5 Reuter FRENCH BANK profits rose sharply in 1906 but future profitability might not be assured if banks do not do more to keep down costs, the French Banking Commission said. The supervisory body, set up in 1964, said in its snnual report that total bank
      Reuter  -  300 words
    • 596 5 Reuter THE United States and the European Commission reasonably satisfied with Japanese liberalisation in the securities sector, are stepping up pressure tor faster action to open up the still tightly controlled banking market American and EC officials said regulated interest rates
      Reuter  -  596 words
    • 266 5  -  By SOH HANG KENG I? Financial Correspondent A SINGAPORE insurance agency supervisor, Mrs Grace Chia, will be among 100 speakers who will address the Million Dollar Round Table annual meeting in Chicago starting tomorrow. More than 6,000 Round Table members from all over the
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    • 441 5 Reuter THE UNITED STATES is mulling tax measures that could and chaos in the Eurodollar bond market triggered by last week's notice to terminate a tax treaty with the Netherlanda Antilles. US otnciala said. The Reagan administration ia debating a move to
      Reuter  -  441 words
    • 58 5 THE OVERNIGHT rate on the Singapore interbank market rose 1K point to end at 3K per cent yesterday. The one- two- and three-month term rates remained unchanged from Thursday. S$ Interbank rates at 7pm yesterday: Offer mo Ow J 1/2 3 1-MM* 3 7/« 2-««* 4 1/1 4
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    • 151 5 BANK BUMIPUTRA Malaysia Bhd (Singapore Branch) has launched a US$5O million floating rate certificates of depoeit issue in the Asian dollar market The issue, made on Thursday, will have a maturity of five years with an investors' put option at the end of the
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    • 352 5 FT THE GROWING MARKET in the swapping of Third World loans could complicate the already-difficult process of economic adjustment and reecheduling among debtor countries, a report published yesterday by an influential private group concludee. The report is published by the Group of Thirty,
      FT  -  352 words
  • Page 5 Advertisements
    • 299 5 NOTICES THE COMPANIES ACT. CHAPTER SO Section 290(2) (b) NOTICE OF RESOLUTION SINGATEX CHEMICALS (PRIVATE) LIMITED (In Members' Voluntary Liquidation) At an Extraordinary General Meeting of Singatex Chemicals (Private) Limited held on the 30th day of June 1987, the following apecial resolutions were duly paesed: RESOLVED THAT: (1) The Company
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  • WORLD MARKETS
    • 332 6 Reuter UNION BANK of Switzerland (ÜBS) is expected to pay about £7 a share to acquire UK merchant bank Hill Samuel Group PLC in merger talks announced earlier. The bank's shares were suspended pending the announcement and resumed trading at 513
      Reuter  -  332 words
    • 916 6 New York Reuter WALL STREET stocks travelled a circuitous route on Thursday before settling mostly lower in active trading. Rising oil prices and anticipation of Friday's report on producer prices kept investors edgy, while stocks involved in takeover speculation remained in the spotlight. The Dow
      Reuter  -  916 words
    • 295 7 FT THE BRITISH government on Thursday took the unusual step of ordering Monopolies and Mergers Commission inquiries into two takeovers which succeeded earlier in one case six months ago. The two acquisitions which have been referred are the 99.2 million purchase by Swedish Match
      FT  -  295 words
    • 159 7 Reuter HONGKONG LAND Co Ltd has decided to disposs of its interact in a hotel in Vancouver, Canada, and has mads a provision of HKSI9S million sgsinst ths invsstmsnt. A HK Land statsment said the firm will ssll its intersst in ths Mandarin Vancouvsr
      Reuter  -  159 words
    • 1180 7 Selected Indices HONGKONG Hongkong Index Fridoy 2076 60 Thursdoy *****0 WMk ogo 2079 78 Hong Seng Index Fridoy 3207 21 Thursday 3225.97 WMk ogo *****4 All Industrials Friday ***** Thursday 2759 5 WMk ogo ***** NEW YORK Dow Jones Thursday 2451.21 Wodwsday *****7* WMk ogo 2436 70 TOKYO NMcei Average
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    • 66 7 AFP ROLLS-ROYCE haa won an order worth £150 mil- 1 lion from tha Auatralian 1 Qantaa airlina to supply anginas for naw Boaing 747-400 aircraft. Qantas haa recently ordered four Boeing airliners to be equipped with the Rolls RB211 engine, and the airline has
      AFP  -  66 words
    • 753 7 London Reuter SHARES WERE MIXEO but with a slightly firmer bias in quiet morning business ysstsrday as operators tidied up loose ends on the last dsy of the current trading account. Buying gathered pace later in the morning, and despite widespread government bond falls of 1/2
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    • 333 7 TOKYO: Prices rose sharply in moderate trad* yesterday as investors bought stocks made cheaper by the market's setbacks over the past three weeks. But brokers doubted the market would stage a lasting rally because no strong buying themes have emerged. The market index gained 347.09 points to end the
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    • 443 7 HONGKONG: Share prices closed weak yesterday but Were off the day's low on late bargain-hunting by fund managers. The Hang Seng Index fell 18.76 to 3,207.21 after earlier losing over 40 points, while the Hong Kong Index was down 12.40 to 2,076.60. Turnover totalled HKJ1.372.14 million. Brokers attributed the
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    • 46 7 JULY 1* MM Acoja Mining Angio Phil Apa« Mining B 0.12 0 006 AIIm Con. S 43 50 3.5 &4QUIO Gold Baaic Patrotaum 0026 +0002 Banguat Con. B. 160 -11 Rnt Phil Hidgt 15.15 +0.4 Laparrto B 0.90 +003 Marcoppar 2 40 +0.4 1 ■frtl
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    • 252 7 JULY 19 WT$ All Slncara Indus Aala C«m«nt Camay Con* Chang Hwa Bank... Chang Loong Chla Haln Camant Chin Haln Flour China Cham China Oav China Elact Wlra China Gull PIm China Rabar China Staal Chung Hwa Pulp. Chung Siting Tax... Far Eaat Oapt. Far Eaat Tax Ft rat
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    • 98 7 AP HYUNDAI MOTOR S global car exports in the first half of this year increased 51.8 per cent from the same period last year to 210.185 units. The leading South Korean car maker said yesterday the tally included 127,056 cars marketed in the United States during
      AP  -  98 words
    • 471 7 SYDNEY: Prices closed sharply higher yesterday as investors pursued quality stocks across the board in the last trading session before federal elections today. Brokers said renewed demand for key stocks saw a reversal of early falls in the resources and gold sectors and continued strength among industrials. At the
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    • 159 7 Reuter BANGKOK: The Securities Exchange of Thailand Index roee 7.06 to 334.85 on a turnover of 5,269,095 shares worth 867.06 million baht. Reuter B#oul |irteM •an Ml rnMii JULY M BAHT Ao Kham TM P»"U*P* AmM 346 182 +8 14 Bangkok Bank .331 uncti Bank Of Ayudhya.. Charoong Thai
      Reuter  -  159 words
  • Page 6 Advertisements
    • 263 6 C\ I id wim, «llm ami 999 9 9 Hong Kong DianXin oil Saturdays, Sundays and public holidays c* Enjoy 27 selections of fine Dian Xin delicacies, prepared by chefs from Hong Kong, using only fresh, quality ingredients from 11 am to 3pm. At the Pheasant Room (2nd floor) where
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    • 177 6 ATK 4 Kl inIPSeMI Food Fashion Galore! fll< >\ ,in ,irn.t/:r.11 r, r. ,4thr im -i up ituou- 1 nil 1.1\ (in. mi I 1 >♦ i'l'Muiru' VIH" H ,11' tl >o<_K t r 1 Til Si\|t( H 111 V unit H 1 Soil J) ti >' Pot f\« i.tst
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    • 156 6 DEUCIOZO HYATT Mama Mia! Pete's Place introduces more exciting gastronomic treats for all lovers of Italian food. SOUP AND SALAD Light eaters can now select from a variety of four homemade soups and help themselves to our ever popular salad bar. $10.50* EARLY BIRD SPECIAL A complimentary bowl of salad
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    • 284 6 SSSffIBSS, Combination and fnaf iy more. plus special 71* Desserts atonly per person. Available Tjwj For reservations, call *****11 Ext 8902. Plaza Hotel StNCAfOKE Beach Road. 0719. „X V A Xx rn M it t >4 r a f *>ww.w? %-m. -M J For as low as $15 a month
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    • 194 6 Daily afternoon tea and the latest in fashion at the Mezzanine Lounge Come see and purchase fashion apparel from preferred boutiques at the Mezzanine Lounge. Daily at 5.30 pm. There's a sumptuous tea buffet too from 3.00 to 6.00 pm. At only $12.00 per person. And that includes a chance
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  • Page 7 Advertisements
    • 525 7 For delightful Northern and Southern Italian specialities. Pastas, soups, salads, entrees and tantalizing desserts. In a refreshingly different atmosphere. 3-COURSE SET LUNCH $25+ 3rd Floor, Westin Stamford. For reservations, call 338 8585 ext. ***** or 330 8310. dMn I m v |£y Ita ml Sunday Brunch: A great family outing.
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  • LETTERS TO THE EDITOR
    • 545 8 IT WAS THE SAME in 1965. Two days after Boris Becker shocked the tennis world by taking home the Wimbledon singles title, the young German pleaded to be left alone. But, as we all now know, it didn't happen. From the moment he lofted
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    • 1205 8 A little understanding for job-seekers please Dmt Sir, I have several relatives and friends in the same predicament as "Over The Hill" (BT June 13-19). This is a matter of national concern as people is our only important economic resource and deserves an airing in
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    • 116 8  -  Cheong Kum Yin Manager (Tach) Jurong Envtronmantal Enginaarlng Pta Ltd Dear Sir, I refer to the article entitled "Clean room builder seeks venture capital" on page 18 of BT, Monday July 6 issue. It should be noted that Esco Scientific Products
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    • 297 8  -  Henry Yap Deer Sir, In the past two weeks or so, the ST Index has been edging up and one reason for this, given in the Straits Times stock markets roundup on June 2g, is that the market is expecting a very favourable second
      297 words
    • 238 8  -  Arthur Young Robert E Hanson Bajtlaiial nvyionii uirvcior ov iixn Deer Sir, I wish to compliment you on your excellent tax article in the June 26 edition entitled "Tax accord with US on the cards". I have one comment on the article that may
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    • 57 8  -  R Mortis Deer Sir, Let us give praise where praise is duel The PUB cable work on Tanglin Road has been exemplary in its speed and minimal hindrance to traffic. Instead of the usual unnecessary notice drawing attention to SLOW WORK IN PROGRESS, this effort
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    • 407 8  -  John M Carter Deer Sir, A letter in The Straits Times Forum on Wednesday, June 24, 1967, concerning "Two elderly men who just want a flat" is not the only instance of hardship occasioned to tenants of one-room Housing and Development Board flats
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  • Page 8 Advertisements
    • 45 8 BT wslcomss Isttsrs from roadara. Your lattara must inctuda your signature, hilt numbtn, if any. You may •dd 3 if you Addroos your lottors to: Tho Editor, Buainaas Times, 390, Kim Sang Road, Singapore 0823. (m SHOWBIZ gives you the hottest read $3.00 JULY '87
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    • 25 8 HER WORLD Singapore's largest selling h women's -!sSatlSs» A memtMr o« the S Auot Buraau o( Ocutakons (AusnalM) •no Med* Cvcutalions Swvces (S) Pie Lid
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  • Page 8 Miscellaneous
    • 770 8 m&wvmz mmmsb CRYPTIC PUZZLE ACROSS 8 Something to wear at home (7) 9 Got out of the bed and had a practice (7.2) 13 Very well. A tailless ape and one other animal (5) 14 A church mouse it's not, that's got into the box! (5) 15 A substitute is
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    • 61 8 Rn Stow: Fbanic Dicier* f thc t mc#vr... A Gordon Bloc an^v High above the. Myles It Pudq* Vjne.DP>nr>4fcD Mfcp>r J ai3 ROOF TbP BARB£Qu£S l_. .-.I _l" Jj o a V bvjildirvg H-»e. Blond ir»f QfotKtrs (ScafFotcling to fht GfcrtWy") are uJOfVcing uridtT C *t/v* are ujorKing o< d
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  • Executive Lifestyle
    • 320 9 A BUSINESS card is just s business card or is it? Whils designs, colours and corporate logos may differ in Singapore, the Europeans, notably the French, are known for their very large business cards about six times larger than the average business card. French business cards
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    • 199 9 TRENDS THE NEWSPAPER BOY, that familiar flgura reaching Into Iha big camrae bag over Me ahoulder for folded nawapapere which ha toaeee onto front potchaa along Ma routo, la a vaniahlng ■pcclca, Tito Lot Angeles Thn— reports. The Times Itself haant uaad boy or girl carriers
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    • 803 9  -  Wlth SAID ABDULLAH THE CASHLESS SOCIETY can sometimes leave you high, dry and yea, cashless. Typical was a lament from a desperado who wrote to the press after he tried to get money from a dead, dumb, merciless box on a late Sunday evening.
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    • 1233 9  -  By BRIAN MILLER IT IS SUNDAY and the afternoon holds promise of pure excitement. The crowd had come early gradually forming a multi-col-oured human carpet on the lush green lawn of the Singapore Turf Club in Bukit Timah. They are here, anticipating high energy
      Photos by JERRY SEH and FRANCIS ONG  -  1,233 words
    • Executive Lifestyle: Entertainment, the Arts & Pursuits
      • 853 10  -  HEALTH By RICHARD SEAH FRUIT, VEGETABLES, grains and nut» plant foods art vary much emphasised in haalth diet*. A question oftan asked then, is: "What's wrong with eating meat?" The answers can be found in several books on vegetarianism, including a booklet entitled What's
        853 words
    • Executive Lifestyle: Entertainment & Pursuits
      • 370 11  -  ART By LISA LEE WITHIN the studied serenity of the Art Forum gallery, one may atumble upon a handful of strange, zany sculptures that look somewhat out of place. Colourful, odd-shaped and really quite original, the sculptures seem to breathe an air of
        370 words
      • 740 11  -  Compiled by Sakina Dhilawala CINEMA: Playing for Keeps— starring Daniel Jordano and Matthew Penn. Showing at Cathay: 11; 1.30; 4; 6.30; 9.15. Amazing Stories Showing at Capitol: 11; 1.30; 4; 6.30; 9.15. Beverly Hills Cop II starring Eddie Murphy. Showing at Lido: 11; 1.30; 4; 6.45; 9.15. Outrageous Fortune
        740 words
      • 335 11  -  CAMPAIGNS By MONICA GWEE THE THEORY IS FINE, but the practice is a lot harder, as moat big-name corporations and well-meaning ecology supporters have found out For Anita Roddick, the main brain behind The Body Shop, "better educated, more cynical clients" have helped her business
        335 words
      • 649 11  -  MUSIC By MARTIN SOONG I LIKE MY JAZZ, like my bowbon, straight. No chaser. And up till Thursday night I thought I'd grown out of Dixieland, that raucoua, celebratory brand of jazz born in the Bayou country of Louiaiana. This ia the jazz that I was
        649 words
      • 694 11  -  BOOKS By CHUANG PECK MING KHASHOGGI, The Story of ft* World'» Rleheet Man, by Ronald Keeeler (Bantam Prase, hardback, $29.90, 274 pagaa). THE BOOK reads like an extended version of Tho National Enquiror or Vanity Fair, magazines that shameleesly capitalise on the lives and woes
        694 words
      • 205 11 FOREIGN TELEVISION VIEWERS srs just as crazy about gams and quiz shows as Americans, and ovsrsess contestants sometimes will go to greater and more risque lengths to win, says US magazine TV Guide. Take the French show. Sexy Follies. Every time s contestant answers s qusstion correctly, he
        205 words
    • Executive Lifestyle: Sports
      • 613 12 FOOTBALL UPI AS USUAL, a football game will take place at the Loa Angelas Coliseum in mid-October. This time, though, the players won't wear helmets, the field will be 180 yards long and the score will read something like 140-100. And if you feel like having
        UPI  -  613 words
      • 432 12  -  GOLF By WALTON MORAIS SINGAPORE'S Bill Fua, still seeking his first major title, stayed within sight of the leaders at the halfway stage of the M 550,000 Genting Classic golf championship at the Awana Golf and Country Club course yesterday.
        432 words
      • 222 12 AP TOM SIECKMANN, winless since turning professional 10 years ago, put together a bogey-free, 6-under-par 65 to take the early first-round lead on Thursday in the U*****,000 Anheuser-Busch golf classic. Sieckmann played in the morning and completed his round as temperatures already had broken the 32
        AP  -  222 words
      • 412 12 CYCLING Reuter ADR IE VAN DER POEL hes survived a jury inquiry to earn hie first Tou de France stage win and give the Netherlands their fourth success in this tour. The announcement of the result on Thursday was delayed until the race
        Reuter  -  412 words
      • 526 12  -  on moi with Brian Millar JOCKEY KC NO, fresh from victory in the Singapore Gold Cup last Sunday, hat Just two mount* in today's saven-rac* card in ipoh and ha should find his way into tha winnsr's circle
        526 words
      • 168 12 ATHLETICS Reuter STEVE CRAM. Britain's world 1,500 metrea champion, on Thursday night pulled out of yeatar day'a London Grand Prix athletics meeting but denied he had withdrawn to avoid having to race compatriot Steve Ovett Cram gave the recurrence of a kidney problem
        Reuter  -  168 words
      • 314 12 YACHTING Reuter NEW ZEALAND achieved victory on the water in the world 12-me-tre yachting championship on Thursday but lost it in the jury room a few hours later. A jury upheld a protest that New Zealand had made an illegal pre-start manoeuvre and
        Reuter  -  314 words
      • 395 12 GRAND PRIX AFP LESS THAN six points separate the top four World Championship contenders going into the British Grand Prix in Silverstone tomorrow. After the first six rounds of the 16-leg 1967 Formula One World Championship the battle is hotting up. Brazilian
        AFP  -  395 words
      • 755 12  -  BRIDGE By MIKE THUMBA ARTHUR HAILEY, in on* of hit best-selling novels. "Strong Medicine" made many poignant remarks. One of thoee that caught up in my mind is this, "It was mental turbulence, not calm seas, that gave life its zeet" To me turbulence and
        755 words
      • 288 12 TENNIS Reuter THIRD SEED Wally Masur swept aside fellow-Auetralian John Fitzgerald 6-4 6-3 on Thursday to march into today's semifinals of the US$lOO,OOO Hall of Fame men's tennis championships. Mssur, ranked 28th in the world, will meet American Dan Gotdie for a place
        Reuter  -  288 words
    • Executive Lifestyle: Personal Investment
      • 473 13  -  Keeping track... BONDS Ramesh Chandiramani WHAT IS the value of City Development's rights bond, several BT readers have asked. Some investors think that one warrant is exchangeable for one new CityOev share, and recently the traded rights bond was chaaed up to
        473 words
      • 936 13 mm BANKS UNKNOWN to most investors, there is still a great deal of value to be had in United Overseas Bank shares, which has got to be the most undervalued banking stock listed on the Singapore and Kuala Lumpur stock exchanges, not only in earnings,
        936 words
      • 994 13  -  BB3nrBTS A rnmßß WZ STOCKS By ROSIE TAN MY SIX YEARS as a dealer and remiaier had been an extraordinary adventure because I had the opportunity to study at first hand the quirks and foibles of human nature in one of
        994 words
      • 1253 13  -  WALL STREET By RAMESH CHANDIRAMANI THE BIG MOVE on Wsll Street has yet to come; commodities have bottomed out and are good for a two-year rally; US bonds are likely to drift sidewsys; gold snd silver sre preparing for significant upside moves, overseas markets are still
        1,253 words
      • 301 13 CHART PiiINT ..Jk it m k, Mk lan RC THE INFLOW of foreign funds into this market has mostly gone into quality Singapore trustee stocks. But recent evidence suggests that the tide could well be turning in favour of similar, but lagging
        RC  -  301 words
      • 381 13 ART per cent of the lots. by Sotheby's Research Department LAST WEEK was when London auction houses hald their major summer sales on impressionist, modern and contemporary art, traditionally the highlight of the season. As widely expected, the most outstanding event was the sale
        per cent of the lots. — by Sotheby's Research Department  -  381 words
  • Page 9 Advertisements
    • 14 9 Real buying power at your fingertips. Call 732 2244 for an application form today.
      14 words
    • 50 9 The Hour Glass Singapore's premier watch boutique with the largest range of watches in 5 convenient locations When you shop at The Hour Glass you shop with confidence. You're assured of the absolute authenticity of every timepiece you buy, of professional advice, competitive prices, international guarantees and after-sales care. Trta,;
      50 words

  • Page 10 Miscellaneous
    • 2616 10 Laughton, Monroe and Osborne Movies Charles Laughton stars in an absolutely winning movie. Ruggtrn of Bad Gap as an English butler who is won in a poker game by an uncouth Westerner and his socially ambitious wife. He is charm personified as he uses his wits to survive in a
      2,616 words

  • Page 11 Advertisements
    • 117 11 H 10 V r> 3 fv < V/V !i f t i Ar n^l c g% 1 I I »i A :V\ HM sft w i >v: SSB3® <•> :<s s>; <$ V 3> vr yi< <$> >A' y/m 35! $> '/.sN ✓XN VAN i\ 0> >7-v' S.K\ AN v.o*
      117 words


  • Page 13 Advertisements
    • 27 13 BT welcomes investment ideas and viewpoints from brokers, bankers and readers. Address all correspondence to: The Editor, Personal Investment, Business Times, 390 Kim Seng Road, Singapore 0923.
      27 words

  • STOCK EXCHANGE OF SINGAPORE
    • 4391 14 DOUBLE-DIGIT gains littered the board as the Singapore stock market staged another leap forward to its seventh straight record on an all-time high volume. The Straits Times Industrial Index roee 22.09 points to close at 1,371.21 while the more broad-based BT Composite Index
      4,391 words
    • 192 14 SINGAPORE ricm IndlcM C8 Mr 9 Mr 10 «T MO «TCe—M» 1307X9 1223.13 J0 ««o WOt/OS +241 +312 ~yi*r 2T? MCAtn -5334 -5245 IT 10-day MA -5493 -5452 m£L t2 SPy.. ♦I4MM3 rani naat 415 +30 STMakUi 1340J2 *****1 isri 0 22 :s 2*-~ a* 7 Jo*»
      192 words
    • 4674 14 SECTION ONE MDUtTMAL COMMERCIAL Aono 12 59 B 2 60 SI 171 2.51 lIS 250 01 246 (791 2 54 ***** 2 55 1121 2 57 191 2 52 121) 2 53 191 256 a 2 48 131 2 55 Q4I 2 57 (91 2.56
      4,674 words

  • COMPANY NEWS
    • 823 15 Cwront b Boaka Data Total tar Total tar payment data ctooo Foyafcta Mia yoar taal yoar Acmo l%T£ Jun 22 Jun 29 Jut 31 l%TE «%TE AJax Htdgs 4% Sap 3 Sop 10 Sap 25 4% 5% ft Sombowong 35% Jut 27 Aug 1 Aug 11 35% 20%
      823 words
    • 3508 15 BULLS CONTINUED their charge on the Kuala Lumpur «lock market yesterday, chaaing prices to higher ground in active trading. Hefty gains were scattered acroea the board. The rally puahed the New Straits Times Industrial Index up 24.61 points to 2,098.71, another new high.
      3,508 words
    • 213 15 LAST FULL YEAR Compiji Med Dal* Year NM EPS Grow Nat www wed •ndtng IcMll dh profit loH y«ar ($•000) Fed Cable* Interim Jun 87 6,1751 (i) S J Amol Interim Dec 19 Mar 86 73 527 Moloyowofo Interim Dec 11 Mar 87 30,4931 Twefc Cement Final Mar
      213 words
    • 593 15  -  Group optimistic about outcome of new business strategy By ROSIE TAN VAN DER HORST LTD (VdH) has reported a group pre-tax loss of $2.73 million for the half year to March 31. 1967, against a loss of $1.33 million for tha corresponding period
      593 words
    • 427 15  -  By ELAINE KOH NEW ZEALAND food group Wattie Industries Ltd has made a firm offer of $4.25 per share for Queensland Trading and Holding Co Ltd'e (QTH) 34.23 per cent holding in Cold Storage Holdings PLC (CSH). The directors of QTH, currently
      427 words
    • 258 15 Monog»r»' pricM MARA-Bumiputra for July 11 13 Fir* I'putra 728 733 Singapore Unit Trust Sacond I'putra Third I'putra 4 47 4 94 452 101 Tka Savings Fund iot S port frag Fund 049 S'poro Sac Fund 08$ S'pora Invatf Fund 045 s port Equity Fund 040 157 Four*
      258 words
    • 98 15 Bernama ES THE MALAYSIAN MIDF Consultancy and Corporals Services Sdn Bhd (MIDF) has called for a review of the system of public issues and has made severs! proposals to the authorities. MIDF genersl msnager Haji Abdul Khalid Haji Abdul Aziz said that
      Bernama ES  -  98 words
    • 303 15 MBT JEDECO EXPORT, a subsidiary of Tan Chong Motor Holdings, has been appointed by Britiah firm Domnick Hunter aa its agent to market industrial filters and dryers in the Asean region. Jedeco Export haa the sole distributorship to sell Domnick Hunter's products in Malaysia. Singapore.
      MBT  -  303 words
    • 362 15 SI A dividend on Aug 15 SINGAPORE AIRLINES has announced that its first and final dividend of 12.5pc less tax will be paid on Aug 15. The transfer books and register of members will be closed from Aug 1 to Aug 14 for the preparation of dividend warrants.
      362 words

  • LATE FILE
    • 50 16 Bernama ES MALAYSIAN Finance Minister Daim Zainuddin reminded financial institutions yesterday that their average lending rates were still high and should be lowered. He said that the difference between the cost of lending and the average cost of the funds should be within 3 per cent.
      Bernama ES  -  50 words
    • 70 16 Reuter THAILAND has moved to allay local concern that sharply growing Japanese and Taiwanese investment there is motivated by the two countries' attempts to get around US export quotas. Chira Panupong, secretary-general of the Board of Investment, said that the board would make it a
      Reuter  -  70 words
    • 32 16 Reuter US WHOLESALE prices rose 0.2 per cent in June after rising 0.3 per cent in May. the government reported yesterday, signalling a slowing of inflation. Reuter
      Reuter  -  32 words
    • 29 16 AFP JAPANESE industry is lax in conforming to Wsstern bloc regulations regarding certain exports to communist countries, ex-Toehiba Corporation chairman Shoichi Saba has acknowledged. AFP
      AFP  -  29 words
    • 39 16 AP IRANIAN Speaker Hashemi Rafsanjani has renewed an offer to suspend raids on foreign ships trading with Iraq and its Arab backers if Baghdad calls a truce in attacks on Iranian oil installations and tankers. AP
      AP  -  39 words
    • 38 16 UPI VIETNAM wants economic assistance from the US before it helps resolve the fate of American servicemen missing in action, Vietnam-' ese Foreign Minister Nguyen Co Thach told an American delegation this week. UPI
      UPI  -  38 words
  • 441 16 AFP INDONESIA'S oil industry, badly hurt by the oil price collapse in 1966, is expected to recover this year but the longer-term outlook remains uncertain, the US embassy in Jakarta said yesterday. The country might be forced to import crude oil
    AFP  -  441 words
  • 87 16 Renter COMEX GOLD FUTURES traded quietly early yesterday after opening steadier than expected on short-covering ahead of the producer price index report The market then slipped under selling prompted by a higher US dollar. But gold was underpinned by hopes for a continued rally in the NYMEX energy
    Renter  -  87 words
  • 62 16 Bernama THE SARAWAK government is in the process of sacking some community chiefs in the state involved in a campaign to oppoee the government. State Land Development Minister Adenan Satem said the state government could not and would not tolerate those who were opposed to government
    Bernama  -  62 words
  • 354 16  -  By LOH HUI YIN A BROAD hint was given to Asean by a senior US trade official that the grouping should find other forms of economic arrangements allowing Asean goods to enjoy tax benefits in the US. This new arrangement, said Mr
    354 words
  • 204 16 Reuter A SOVIET OFFICIAL linked to Kremlin leader Mikhail Gorbachev yesterday said that the export of world revolution had become outdated as a foreign policy concept Yevgeny Primakov, writing in the Communist Party newspaper Pravda, said that current Soviet policy demands dictated an end to excessive
    Reuter  -  204 words
  • 474 16  -  Improvement made despite lower turnover By CHUANG PECK MING NTUC FAIRPRICE has continued to turn in record profits, this time reporting an all-time high net profit of $17.46 million for the financial year ending March 1967. This is about three times better than the
    474 words
  • 188 16 A NEW CHAIN of provision shops csrrying ths NTUC Mini mart trade name has arrived, posing s challenge to the Econ Minimart chain. Started by retail cooperative NTUC Fairprice, the NTUC Minimart shop, like the Econ Minimart shop, is based on a franchise scheme designed to
    188 words
  • 220 16 KALEIDOSCOPE thinking looking at issues from a new perspective, challenging assumptions and finding new possibilities in management strategies is essential in the intensified competitive business environment Or S Vasoo, acting head of the department of social work, National University of Singapore also said
    220 words
  • 198 16 Reuter JAPAN'S huge trade surplus appears finally to have started falling steadily following a 22-month international campaign to lower the value of the dollar, government and private economists said yesterday. Figures released by the Finance Ministry show that Japan's trade surplus in June
    Reuter  -  198 words
  • 98 16 Reuter SWEEPING CHANGES in the iesdership of South Korea's ruling party are expected next week after President Chun Doo Hwan quit as head of the organisation yesterday to spur a new drive for democratic reforms. The shake-up of the Democratic Justice Party would prepare for
    Reuter  -  98 words
  • Page 16 Advertisements
    • 43 16 IF YOU WANT TO KNOW T I T\V J r ■Hi i, 1 tL <**■ tym are feeling What sHquia a c<^f ity trader do' How aretabQUr dispwes Whither thestatutary boa fa surptpses? GET YOUR COPY OF SINGAPORE BUSINESS TODAY A Times Periodicals publication
      43 words
    • 70 16 IS YOURS A ONE EXECUTIVE BUSINESS? Just a few dollars per month will buy you an office address, secretarial and full communication services: Phone, telex, telefax. We have 2 luxurious offices to rent on a short or long term basis too with personal computer if you wish. Serviced apartments available
      70 words
  • Page 16 Miscellaneous
    • 52 16 WW wWBw W WHbW Outlook: Showers oxpoctod OVff MVffll irMs Roport for 24 hour* prior to 7.30pm on July 10 at tho airport Maximum tomporaturo 32.4 Asoodatod humidity 67 Minimum tomporaturo 27J& Aaooclatod humidity 90 Hours of sunohlno 0.45 Rainfall In mllllmotroo 2.3 Rainfall this month 19.5 Rainy days this
      52 words