The Business Times, 20 October 1979

Total Pages: 16
1 16 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 148/1/79 SATURDAY, OCTOBER 21,1979 50 CENTS
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  • BRIEFLY...
    • 78 1 Reuter MANILA, Fri. The Asian Development Bank is drafting loan policies to help developing member countries borrow for expansion of local power sources to lessen dependence on imported oil, according to its president Mr Taroichi Yoshida. He told a meeting of the Confederation of Asian and Pacific
      Reuter  -  78 words
    • 49 1 Reuter BANGKOK, Fri. Thailand and China today signed a trade agreement for next year following two days of talks. Mr Bajr Issarasena, director general of Thailand's Foreign Trade Department said the agreement called for the export of Thai products to China next year valued at US$l5O million.
      Reuter  -  49 words
    • 53 1 AP LONDON, Fri. Inflation in Britain jumped during September to 16.5 per cent the highest annual rate for over two years and the highest rate among Western industrial nations, government figures showed Friday. Dearer cigarettes, alcohol, gas and electricity, and some food were among the items causing
      AP  -  53 words
    • 75 1 UPI LONDON, Fri. In an attempt to get a foothold in the civil nuclear market Rolls-Royce is tendering for a contract to supply a nuclear reactor for an icebreaker to be ordered by the Canadian government, a spokesman for the company said Friday. The designs, which have
      UPI  -  75 words
    • 74 1 UPI LONDON, Fri. Aluminium, which now comprises less than one per cent of Australia's exports, could be the country's biggest export earner by the end of the 1980s, the Bank of New South Wales predicted in its quarterly economic review issued Friday. By 1985, Australia's aluminium sales overseas
      UPI  -  74 words
    • 60 1 UPI WASHINGTON, Fri. After a slump which began in April, the economy turned around in the July-September quarter and grew a surprising 2.4 per cent after accounting for inflation, the Commerce Department reported Friday. The figure reported by the Commerce Department shows the amount the gross national product
      UPI  -  60 words
    • 43 1 AFP ROME, Fri.— A total stoppage of air traffic threatened Italy today when air traffic controllers withdrew their labour. Over 1,000 controllers have sent in letters of resignation. These staff have military status and they are demanding to be "de-militarized".
      AFP  -  43 words
    • 114 1 AP NEW YORK, Fri. The stock market suffered a new setback Friday morning amid fears that the US Federal Reserve would have to get tougher still in its anti-inflation campaign. The Dow Jones average of 30 industrials fell 6.74 to 823.39 in the first half hour. Losers took
      AP  -  114 words
  • 187 1 Rises Indices Duff Dev 332 CCM 580 Shell 378 Sel Properties 346 Bouatead 330 Perlis Plant 250 V O F 196 We a roes 249 Msian Ctainers 248 Palls 6 5 2 2 2 +2 2 1 1 B.T. Index: Industrials: Finance: Hotels: Properties: Minings: Plantations: O.C.B.C.:
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  • 670 1  -  AGGRESSIVE MARKETING By MARGARET THOMAS TELECOMS, one of Singapore's most progressiveminded statutory bodies, plans to go multinational as part of a more aggressive growth strategy over the next decade. It will be setting up offices in business centres around the world. The authority also plans to
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  • 217 1 TRADITIONAL commodity exports from this region will not be eligible to qualify for tax incentives offered under the scheme to encourage International Trading Companies. The latest Commercial Bulletin of the Trade Department has revealed that items such as tin, rubber, palm oil, coconut oil, logs, and petroleum products
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  • 309 1 TWO OF four contracts for the design, construction and installation of a $59.4 million single buoy mooring (SBM) for the Singapore Refining Co (SRC) have been awarded and a foundation laying ceremony has been scheduled for early next month. A Port of Singapore
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  • 335 1 LUFTHANSA, the German flag carrier, plans to reorganise its services from Frankfurt to South-east Asia and Australia. The reorganisation will involve re-routing of flights to South-east Asia and Australia, with a cutback in the airline's flights to Australia and an increase in flights to South-east Asian points.
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  • 300 1 FOREIGN banks la Indeaerta are upwtti to have recently raised their rate* far one-year rspiah time depeslts to between 12 aad 13.5 per cent, exceeding by a long way the t per eeat rate glvea by state banks. The rates applied by
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  • 383 1  -  By RONNIE LIM THE Petrochemical Corporation of Singapore (PCS), in charge of the $2 billion petrochemical project, has decided on a Japanese engineering company as its main contractor for the central naphtha/gas oil cracker (upstream plant). Sources indicated yesterday that the company is
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  • 80 1 THE CHARTERED Bank will raise its deposit rates from Monday, the bank said yesterday. This is in line with generally higher rates on the Singapore banking scene and a number of local banks have already raised their deposit rates to maintain deposit levels. One-month deposits (minimum of $25,000)
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  • Page 1 Advertisements
    • 1 1 N
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    • 225 1 ASEAN BUstTßSsQuatßrty Malaysia's ujuudwiml industrial coordination act Singapore's low-wage problem Intra-ASEAN uubam trade v liuu* >uppl\ jik! Jcnuuxi V>t.\N's primary tumuit'Juio. Brief co electronics industry in ASEAN W»ljvm.i a iiDtn Myth and reality of Singapore's industrial production index lit,: ."i .1.15U'.* r «'f Revenue through taxeshow ASEAN does it The
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    • 56 1 SHIPPING TIMES ASSESSMENT «f Naeklie AMa Tf 2 ANTI-geverameat protest spreads la Seatfc Kerea 5 REVIEW ef the Malaysiaa eeeasmy 7 NEW place tar pnflt la Haagarlaa —If— LETTER: Bell SHARE market report TRACTOR Malayriat THAIS state their MEMOPAD t, PLIGHTS i, TV AND RADIO, CROSSWORD C STRAWS 1, WHERE
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    • 156 1 FOR PEOPLE WHO MATTER —w mm Wayfoong MAF is outside the CBD. and it's computerised for better efficiency. 1 you need a hand. A helping hand when you need it most: WiyfbongMAF For most people, money isn't easy to come by. At Wayfoong MAF, we feel that the money you've
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  • TRADE AND INDUSTRY
    • 460 2 COURSES AND TALKS Oct 22-24: Credit Lending, Hilton Hotel, SGV-Goh Tan Oct 22-Nov 26: Banking Law and Negotiable Instruments, New Lecture Theatre 3, University of Singapooe Oct 22: Electronics (Basic, Intermediate and Advanced) and Special Courses on Microprocessors, Digital Computer Systems and Basic Programming, Suite 5264, Woh Hup
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    • 217 2 THE Joo Seng group of companies celebrates its thirty-second anniversary today. From a small trading firm that once supplied farmers with imported animal feeds, rice bran, copra cake and corn, Joo Seng has since grown to become a multinational group with interests
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    • 371 2  -  By WANG LOOK KEAH THE Port of Singapore Authority (PSA) has bought four straddle carriers worth a few million dollars from a Finnish state-owned company, the Valmet group. This was announced yesterday at the end of Machine Asia 79 by the company's representative in Singapore,
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    • 280 2 CHINA Steel Corporation (CSC) of Taiwan has set up a representative office in Singapore its second outside the country to promote its products here. CSC's decision to set up an office here is because the South-east Asian region is recognised as one of the potentially
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    • 274 2 FREIGHT forwarders in Malaysia are keen on investing in warehouses under a plan proposed by Malaysian Finance Minister Tengku Razaleigfa Hamzah, in his Budget speech on Thursday. The proposals call for the building of warehouses outside the port area to ease dockside congestion. While many
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    • 48 2 FIRST National Bank in Dallas has promoted Mr Jum Cku Lee Seag to banking officer and assistant manager of treasury and foreign exchange department. Mr Chua has been with the bank for over 4 years and is a very active member of its sport's club.
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    • 125 2 THE Department of Extramural Studies of the University of Singapore will hold a 14-lecture course on "Public Relations as a Management Function" at Waterloo Street Centre, every Monday and Wednesday beginning on Oct 29. The course is designed for executives and managers who are involved in
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    • 436 2 IRISH manufacturers see Singapore as a springboard for their exports to other Asean countries, said the leader of a 14-member Irish trade mission now in the Republic. Mr Joseph Holloway, secretary of the Department of Industry, Commerce and Energy, said Singapore is
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    • 164 2 SOUTH Korean farm machinery manufacturers are moving into Singapore, posing a challenge to the traditional Japanese dominance of the market in South-east Asia. Two companies that have begun to market more extensively in the region are Daedong Industrial and ICC Machinery. They were represented
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    • 149 2 TELECOMS will be extending its Telefax service to Switzerland and Taiwan from today. Telefax is a system that allows the public to transmit documents, drawings, forms as well as printed, typed or written matter via a high-speed facsimile terminal. Messages or documents will be
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    • 251 2 AFP SHORTAGE of textile quotas has led to malpractice in the Hongkong quota transfer system, the regional magazine Textile Asia said. Its latest issue states that in Hongkong an increasing amount of textile quotas are being traded in the market and prices for some categories have
      AFP  -  251 words
  • Page 2 Advertisements
    • 238 2 THE FIRST INTERNATIONAL RUBBER AND PLASTICS EXHIBITION FOR ASIA WORLD TRADE CENTRE, SINGAPORE. 26-30 MAY 1980. Every year, thousands of new rubber and plastic products enter the market. Whether for use in industry or the home, every product reflects some new development in engineering or marketing expertise. If you're involved
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  • Page 3 Advertisements
    • 121 3 JOO SENG GROUP OF COMPANIES Inauguration of New Premises ■rif~ ats3/55,New Bridge Road and ■■MiSisSiShßS X Ck a i 7 V Gao Han Long Ang Kiem Liang I Wong Shu Kar I I m 3 M jfrrjiw M m x mm vv v;;' «5> *■1 /V«*M J *V 4* Jr%
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  • RAW MATERIALS
    • 251 4 EASIER conditions persisted throughout the week ended Oct 18 resulting in a decline of some eight cents, says Hottdfty, Ciller, Bath 4 Co. in its weekly review of the Singapore and Malaysian rubber markets. Factors contributing to the drop were renewed softness
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    • 152 4 WHEAT futures on the Chicago Board of Trade on Thursday closed mixed, holding gains up to l'/t US cents a bushel while losing as much as two cents. Declining CBT soybean prices put pressure on wheat futures while limit gains in deferred CBT silver futures prompted some short-covering, traders
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    • 70 4 C.I.F. North European ports, in US dollars per ton unless otherwise stated. LONDON: Thurs Previous Malaysian 5 r ffa bulk per tonne December 595.00slr 600.00slr Sumatra 5 r < ffa bulk October unch 585.00pd November unch 600.00pd December 595.00pd 587.50pd January 602.50pd 600.00pd Feb/March 607.50pd 605.00pd Nigeria 5
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    • 333 4 GENERALLY easier conditions prevailed in very quiet trading on the Singapore produce market yesterday. Some deals were reported at $2 to $5 lower. The general trend was in sympathy with the weaker overnight market overseas. Coconut oil was under some selling pressure in the Philippines with a markdown
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    • 146 4 CHICAGO soybean futures closed with losses ranging from 2'/i US cents a bushel in the nearby to half a cent in the July contract on Thursday. Traders said prices reflected continued widening of spreads, with the November/January spread trading at 19 3 to 20 Vt cents during the session.
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    • 193 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-godown) Cattea yam: China Blue Phoenix 20s 2,320; 32s 2,085, 40b 3,035 (per bale of 400 lbs).. PW*e gMfe: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 142 4 THE SUGAR futures market yesterday continued the recent quiet and featureless trend with no trades registered as on Thursday, dealers said. Nearby January closed at 13.02/04 US cents against Thursday's 12.88/92 close with distant October at 14.30/34 against 14.10/12 cents. Sugar futures closing price* Jan 13.02 04 12
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    • 250 4 Reuter. PENINSULAR Malaysian crude palm oil production rose to 146,464 tonnes in June from a revised 145,517 tonnes in May and 118,383 tonnes in June 1978, preliminary figures from the Malaysian Statistics Department show. Output for the first half of 1978 totalled 884,601
      Reuter.  -  250 words
    • 408 4 THE SINGAPORE rubber market yesterday closed slightly lower with November One RSS buyers quoted at 278.75 cents per kilo, down 2.25 cents from Thursday's close. Following the substantial reduction in rubber duty in Malaysia fairly heavy stale bull liquidation was noted unitially in brisk trading. November One was taken
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    • 327 4 R.A.S prices in cent* per kUo yesterday: Mr. it noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f o b. 273.25 274.25N Int. 1 R.S.S. November 278.75 279.25 Int. 1 R.S.S December 283.75 284.25 Int. 2 R-S S 272.50 2T3.50N UK/Cont 271.50 272J0N Int 3 R.S.S. 388.50
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    • 118 4 NOON SSI KA8 It and SMR pnc -"-n bar B—i h.p (Curat Mtk) (Forward Mtk) SSR20 (1-ton pa Bayara altera Bayara Scllara flat) ***** 263-00N 262.50 264 SON SSR SO (1-ton pa JJatl 2S800 *****N 258.50 261 SON MKELB SMR CV SMRL (1-ton pa UM) ***** 306
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    • 89 4 THE BRARB tto price la Peaaag jmMi; rase MM to Ujm a pical. CntM nt— to thrae raaatks staadard tto to LNiM aiM vetoes Mgher, wltk eeattoaed farther Jutaen, US Hi toeal kaytog reparttag at tto» level. A larger eaatrtkattoa «f tto are by mtom «f 2M 181
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    • 31 4 Rubber: Oct 19 Singapore: November: 278.75 cents (down 2.25 cents) Malaysia: November 279.00 cents (down 2.75 cents) Tin: Mf 2,005 (up $6) Official offering: 200 tonnes (up 19 tonnes)
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    • 335 4 SINGAPORE: Yesterday's closing prices in SJ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.01, 100 per cent second class 0.83, 100 per cent third class 0.80, 25 per cent new crop no stock, B-10 per cent 0 70 THAI BROKEN: A-super 0.65, Special
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    • 944 4 COFFEE: Robusta futures yesterday closed the morning narrowly mixed at the lower levels with extreme price movements ranging from £9 higher to £12 per tonne down from Thursday. Near month losses ranged from £1 to £3. Dealers said the market continued to move lower after the opening call
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  • ASIAN STOCK
    • 676 4 TOKYO Source: DBS-Daiwa THE MARKET yesterday firmed early in the morning session, supported by the rebound of resources-related issues. However, investor interest in these issues did not last too long, and quality stocks were sold in thin trading. The Nikkei Dow-Jones average temporarily dropped
      Source: DBS-Daiwa  -  676 words
    • 67 4 FINANCIAL TIMES INDU8TR1AL8 H.K.HANG SENG Thursday 470.1 Wednesday 472J Friday 888.81 Thnr«it«y 891.14 Wwk Ayn fty 9 Week ago ***** DOW JONE8 AVERAGE INDUSTRIALS Thursday 830 12 Wednesday 830 72 Week ago 844.82 LONDON DOLLAR PRKMIUM Thursday .31 v. to 32 v. Wednesday 32". to 32 v, SYDNEY
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    • 252 4 OCT 18 Cents 4/INDUSTRIALS A C. I 201 3 A. N. I ITS -2 A. P. M 143 2 Ampot Pet 100 B H P. 060 22 Bank NSW 290 unch Bom 263 +3 Brumbies 215 4-5 C. B A 250 5 C. S. R 4358 Coal Allied 620
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    • 100 4 OCT Peso* Acoje kilning am *0000 A Urn* Coo A AUat Con. a 22.10 -0J gtwo?" an +***** Ben«»t Con B *75 oneh BT Goodrich 18J0 unch M 1" LanaoU a 136 unch l*P*nU> a lis ****** Mannduque B 890 04 Meralco Oriental A Oriental B .1350 unch Phil
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    • 237 4 OCT 1# HKS Amal Rubber Associated Hotels Bowaters Cheong Kong China Engs China Light City Hotels City Urban Comsopol Cross Harb Tunnel East Asia Navlg Far East Each Phil? H/S Hotels Hang Lung Hang Seng Hi. P«r HKtY Ferry HK Aircraft HK Bank HK Bldg HK EJect HK Land
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  • Page 4 Advertisements
    • 458 4 the Prince of Wales and the Repulse: M Middlebr0 0k unt of the'momentous sinking Of two major 10 December 1941 o and the ships Air support was no torpedo forgotten. r T '9er Tiger!: BESTER Alfred Bester Gulliver Foyle liar, i lecher, ghoul, walking b cancer. Obsessed by vengeance, he's
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  • OVERSEAS
    • 740 5 ARRIVALS Service Local Operator Number Time From MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL CAL CB06 1000 HLP CPA CX710 1005 HLP GIA GA980 1030 HLP SIA SQ2U 1045 HLP SLA SQI03 1045 KUL MAS MH605 1045 KUL GIA GA944 1055 PKU GIA GA908 1100 MES
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    • Article, Illustration
      401 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Ashley Lykes (after Ibn Tufail A Verbena) 35/36 A 1 Shan (2359 after Dong Min) 38/39 Bendearg (shifts after Verbena sails D/L) 33/34 Car Liner No.l (Ro/Ro) (0630) 29/30 Golden Globe (1800) 22 Lloyd Bakke (1100 shifts after Ocean Enterprise) 8/ 9
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    • 356 5 AFP THREE influential Japanese newspapers yesterday urged Prime Minister Masayosfai Ohira to assume the responsibility for a major setback his party suffered in the Oct 7 general election by resigning. The nation's largest-circu-lation daily Yomiuri Shimbun said in part: "The election outcome might
      AFP  -  356 words
    • 294 5 Reuter. THE EEC Commission forecasts a decline in community gross domestic product growth to 2 per cent in 1980 from 3.1 per cent this year. Most country growth rates are forecast around 2 to 3 per cent by a recession in Britain, where a
      Reuter.  -  294 words
    • 171 5 Reuter. A PLAN to improve industrial relations In Britain was announced by the Confederation of British Industry (CBI) on Thursday. It calls (or reform of pay bargaining, greater employee involvement in companies, changes in the law to reduce trade union immunities trade milwn bear
      Reuter.  -  171 words
    • 148 5 AFP THE ruling Indonesian Golkar Party grand conference yesterday entered a crucial discussion on whether the powerful armed forces should quit Golkar's "his family." The "big family" comprises Golkar, the armed forces and government civil servants. Participants appeared to be divided in their views on the
      AFP  -  148 words
    • 142 5 Reuter. CHRYSLER chairman Lee lacocca said he is so opposed to taking Chrysler through bankruptcy procedures as an alternative to federal financial assistance that he would rather liquidate the company. "I would favour liquidation at 30 cents on the dollar," Mr lacocca said at the
      Reuter.  -  142 words
    • 564 5 UPI ANn-goverament demonstrations that brought riots and martial law to South Korea's second largest city of Pusan have spread to the capital and a politically sensitive town, reports reaching Seoul said yesterday. A demonstration by about 1,000 students at a university in Masan, 296 km
      UPI; AP photo.  -  564 words
    • 136 5 AFP ASIA (aces continued slow growth, high inflation and widening current account deficits in 1900, according to the Bank of America's economic forecast for next year released in Hongkong yesterday. The bank says that the major cause of slower growth in the highly exportoriented economics
      AFP  -  136 words
    • WORLD IN BRIEF
      • 451 5 Agencies. IRAQ will raise prices on its lesser quality crude oils fay about 10 per cent, effective today, oil industry sources said in New York. Prices for the country's lesser quality crude oils will be increased by US$2 (554.18) a barrel, to between $20.65 and $21.96.
        Agencies.  -  451 words
  • Page 5 Advertisements
    • 170 5 Leader...Page 6 The Ero Chair. Made for true comfort and efficiency. Designed to follow the latest ergonomtcal principles, the Ero chair has won international awards for quality, function and design Suitable for all desk fobs that require seating for long periods it gives utmost comfort and meets international safety standards
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  • 314 6 THE latest proposals put forward to British businessmen by the Confederation of British Industries are quite extraordinary. History may well record that this act alone may transport Britain back into the industrial stone age. It will certainly not improve the already poor industrial relations
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  • 329 6 VTRTUALLY from its birth, the United Nations, for all its high principles and fine moral base, has been in a state of progressive deterioration. There have been occasions when the assembled members have appeared to act with commonsense and dignity but these have been
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  • 1113 6  -  By DAVID ANDELMAN NYT THE Hungarian leadership has decided to proceed with an economic programme designed to produce an economy in which profit is the key criterion of success. In July, the first stage of the programme produced the biggest consumer price increases in Eastern Europe
    NYT  -  1,113 words
  • 323 6 This little pig went to market, This little pig stayed at home, This little pig had roast beef, This little pig had none, And this little pig cried, "Wee, wee, wee,'" All the way home, Took his fat self off to a Salzburg zoo, Where he
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  • 484 6  -  Letter to the Editor G.R Dear Sr, With reference to the Business Times, Oct 11, story titled "The reinsurance industry needs more tax grants", I am slightly disappointed to note that it was done at the expense of leaving out the fact that my interview
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  • Page 6 Advertisements
    • 127 6 godi^lL ivm v 1 a\ r f 0r nv i-i r, m Oft SSi^l^ Draw a crowd to a sale or sell a drawing of a sale. Leisure Times is right on target For as little as $15, you can sell a house, fetch a good price for an antique
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  • Page 6 Miscellaneous
    • 50 6 DTiStcW: ?&nkDLzkszi cjm«T DO YDU mGp»hi—>*OU DON'T v U*\Nr THC WINOQUI QP£N P Come nooj, Jotes trs r DP»y BHD VaJE-'CC STUCK W PI stuffy OUT" JONGS 1 DON'T cßfie ujhrt YOU SF»Y. uJIHDOCJ CLC6GO il IH€A«S> 1 D-*X> U)€U..U>eLL old joies lp»v»ng> rne LPVOJ Doujri... fteua? CeFCeSMtNG IN pi
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    • 1187 6 i&J An unusualist's magic NO NBBD te wilder 1 YTijiVT lag Mi weekewd. With Dnpml Mtli| as as |M te the set Take yaw flak, nine ea speris, a 2 g ere to "kersey" people to toe wife ieetotii to take nw eil QeaM WeeM Cap Peto toj*Mitractor. SINGAPORE 5
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  • 2440 7 THE MALAYSIAN ECONOMY IN 1979 THE MALAYSIAN economy remained strong and buoyant in 1979 under the stimulus -of greater public sector demand and better than anticipated growth in exports. Real GNP for 1979, which was envisaged to grow by 7 2 per cent in the 1979 Budget
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  • Page 7 Advertisements
    • 314 7 SUBSCRIBE TO SINGAPORE BUSINESS TODAY! ■•v. £&oipr**i f I Singapore Business, of course, is a magazine you know. It's a must reading for politicians and a mine of information for business and professional people. Students too find Singapore Business an invaluable wealth of information. In fact, anyone who has any
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 260 8 OCT It m CORBEILLE Alr-Uqulde 4M •I BIN Oerrals Danone 863 1# C 8 T (ThomjonCaf>._ 423 •1 CM Francalae dm Petrol*i 275 •1 Compacnle Financier* Compacnle unch Qenerale 347 Credit Poncter De France 483 Hachette (Ubralrte) 1M -0J Machine* Bull Mtchelm (B) m •1 Pirtlai 234 •1 Pechlney
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      • 192 8 OCT U Dm Aef-Telefunken 40J0 mm an Alls Ubcn P 30 MM -If All« Vara ***** 49 BAST Bay H T Wbank Bay Vbank 143.10 M3J0B 1-5 1J sr i3i ao 0J 29OJ0B BMW 175 JOB 0J C&nellA ***** -5 Chem V«rw Commifihittfc COflU OUDffli Daimler-Bens Pi ftii— moo
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      • 170 8 OCT 11 Aettooi UUH Pranct i i. 900 unch 1*10 AJumlt Raf. 900 4-1 Brown Bowl Br. 1MB unch CUw Otifj Br. 1300 -10 Cite (Mo P C WO -10 Ota (Mo Km. US +1 CrwUt SiSm Br 2X90 +1S CrwUt SulaM Ret «S1 -ft Ocktrowmtt Br. 3130 -S
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      • 190 8 OCT 10 ru ABN AhoW terzrzzzz AB(U Amro Bank CT Bote &Sn Byenkorf Cam Delft DaU MU tnnla 344.00 auo KJO 96 JO 1)0 JO «J0 S7J0 MB.10 auo IMW aojo auo 110J0 WJO 151 JO 1J -0J 0J -03 unci) 04 -U 0J 0J 25 0J unch -0J
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      • 65 8 oct u m FORWARD MARKET ftrtf 2 ArtMd MS <8 Aatur i m -f Brmacan luiptt Ptwfr L> BMI1 *0 EtMM X1K StoctroM unci) o«v ion uncb Hotek -X 110 SO Boe Ocn Bcl« ITS -10 Sofina Mi unci) ItllVA 2MB 15 Ttoto m -1 0 Min no V
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      • 86 8 Aaaoc Ocn u *u IMM *r an no -10 Central* mri rut BH -45 Insider Ofn immot uuo -u in Prl ZTK -go ltalcementl ItalfU Ilalatder ***** -30 190 -1 Ml +t Macneu U Pf •M Marelll *>r 30 10 Med lot) <2710 -SO Miralanaa anao +aoo Mondadori 3)00
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      • 1333 8 NEW YORK LED BY STRENGTH in the oil group, the stock market on Thursday managed a narrow gain in moderate trading, its second in a row after last week's heavy selling. Analysts said investors expect oil company shares to perform better than the market in a recession
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      • 200 8 OCT M AbtUbt CI us H Imp OU Inco Int Pro* Pipe 40S a* 17* s Alean 43 S K Int UU 14* -s ajiqoa Bank Moot Bank Nora Scotia Bell TM 30* a* as as 1 t* InU Nickel Kerr Add Loblaw B Mane; Pen klatta«aml lake Mc
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      • 321 9 OCT 18 Rand INDUSTRIALS A Alpha Abercom AE And CI AMIC Barlows a su**, Currte Finance De Been Ind Edcon Edfan Ewemdj red Votk rupt Oardtan O tenant Gratemn Hippo Hive I<1 Huletu Liberty Lonrho LT A M And R Mcearthjr Metbox Nedsurl OIL Ok Bax Oudem
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  • Page 8 Advertisements
    • 604 8 See Page 4 for Asian stocks e See Page 9 for Jo'burg prices Where to wine, dine and entertain v Ac* V mmmmrnmwmmmmm 50% "ebates or grmr torn 1 StmoMQoNOub IWHWWfIQ Root, StMR) Room 33 i/ t a 2 V SZECHUAN RESTAURANT mmmmrm Feast like an emperor at Chinatown vi
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    • 33 8 w <2 ft 4t m OOi c a'B «e ft&i* >•» 91 V Have m this Sunday.Take a break from the •tre«M* of office. house and schoolwork. Relax at oar pooistde. Take a dip
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  • BANKING AND FINANCE
    • 312 9 Reuter THE current monetary policy of the Federal Reserve of the US is likely to remain unclear for at least another week or two, money market analysts said They said the Federal Reserve's sale of US Treasury bills on Thursday was viewed by
      Reuter  -  312 words
    • 73 9 Reuter THE Manila-based Asian Development Bank is drafting loan policies to help developing member countries borrow for expansion of local power sources to lessen dependence on imported oil supplies, bank president Taroichi Yoshida said. He told a meeting of the confederation of Asian and Pacific accountants the
      Reuter  -  73 words
    • 279 9 Reuter THE Bundesbank is not unhappy about the current high level of German money market rates above 8 per cent, Central Bank president Otmar Emminger said. He said there is also now a widespread degree of understanding in other countries, notably the US, that West Germany's determined stand
      Reuter  -  279 words
    • 198 9 Reuter THE slewdewa la the growth s< sterttag leadlag by the UK private seeter te £111 mllllea la the meath te aid Oepteanher dees aet presage aa Imawdlate fall IB mi»im»m leadlag rate, eorreatly 14 per eeat, baaklag searees said. The grewth, which
      Reuter  -  198 words
    • MONEY AND EXCHANGE$
      • 392 9 THE US dollar closed higher against major currencies but weaker against the yen, in moderately active trading on the Singapore forex market yesterday, dealers said. It firmed slightly to 1.7970/80 marks from 1.7960/ 70 in the US on Thursday and to 2.1490/95 against sterling (2.1515/30). Against the Singapore
        392 words
      • 50 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Oct 22 to Oct 26: Offered: $40,000,000 Applied for: $120,000,000 Allotted: $40,000,000 Accepted bids: $96.58 approximately 49 per cent; higher bids in full. Average rate of discount on allotment: 5.690 per cent per annum.
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      • 192 9 THE YEN yesterday strengthened in late trading here to 231.78/85 to the US dollar from an early 233.20/ 30 and the New York closing of 232.75/90. Dealers attributed the currency's firmer trend mainly to market reaction to its sharp weakening earlier in the week, but also to rumours of
        192 words
      • 110 9 THE US dollar for overnight delivery yesterday closed weaker at 231.80 yen, compared with a 233.00 opening and 232.30 at Thursday's close, following moderate central bank yen-support intervention, dealers said. The Bank of Japan sold an estimated US$5O million to~ $70 million at around 233.40 yen in early trading
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      • 185 9 Asian rates ASIAN currency deposit interbank rates as at close on Oct 19: US DoU*r*(Spot) Offer Bid 7 days 13% 13V, 1 month 14% 14V, 2 months 14 13/16 14 11/16 3 months 14% 14V. 6 months 14% 14*. 9 months 14 14 12 months 13 15/16 13 13/16 8w.Fr*.
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      • 47 9 RANGE at prices offered by discount houses on Oct 19: Overnight 3% to 5'/»% Call deposits Wi% Closiof Baying Selling 3 month Treasury bills 5H 3 month Bank bills 85/16 8 3/16 3 month CD 80/16 87/16 6 month CD 813/16 811/16 Source: National Discount Co
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      • 43 9 FRANKFURT exchanges opening quotes on Oct 19: US -1.7966/15 (1.7970/80) Stg 3.855 865 (3.860/870) Can -1.5212 /30 D F1 90.19/29 S Ft -109.47/63 Ut 2.167/170 F FY 42.56/61 N Kr 36.08 11 B FY (coin) 6.206/212 B Fr (fin) 6.04/06 Yen 0.7773/86
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      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their beet customers is 9 per cent.
        22 words
      • 348 9 THE SINGAPORE gold futures market yesterday closed US$l and $4 lower in quiet selective trading, dealers said. Turnover fell to 224 lots from 347 lots on Thursday with interest centred on December and February contracts, they said. December closed at U*****.50/394.80 an ounce against 1394.50/395.50, February at $400.00/404.50 against
        348 words
      • 180 9 THE DOLLAR yesterday opened a little firmer against most European currencies, but was easier against the yen amid speculation the Bank of Japan will soon raise bank rate, dealers said. The dollar opened ar 231.30/45 yen compared with a 231.80/90 close in Tokyo and at 1.7965/75 marks compared with
        180 words
      • 61 9 QUOTES on the Australia and New Zealand exchanges on Oct 19: AUSTRALIA: US dollar 1.113/1.1081 Sterling 0 5189 0.5127 Ninety-day airmail buying rates: Sterling 0.5421 US dollar IKB Ninety-day forward buying rates: Sterling 0.5256 US dollar 1.1267 NEW ZEALAND: Reserve Bank midrate (J5J0.9827 Trading Bank indications Sterling 0.4580/0.4550 US
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    • 192 9 SELECTED branches of Chartered Bank will sell gold to the public from Monday. Gold bars of 5, 10, 20 and 50 gram bearing the logo of the Standard Chartered bank group will be sold across the counter at the Battery Road main office and branches at
      192 words
    • 182 9 AFP THE Hong Kong and Shanghai Banking Corporation has welcomed the announcement that shareholders of the New York-based bank holding company Marine Midland Banks Inc have approved revised terms for its takeover by the Hongkong bank. According to a report from New York about 8.9 imllion
      AFP  -  182 words
    • 257 9 SECURITY Pacific Corporation has reported its fifteenth consecutive quarter of record earnings. In addition, the corporation marked a major milestone as stockholders' equity passed US$l billion at the end of the 1979 third quarter. Richard Flamson 111, president and chief executive officer, said "the record
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  • Page 9 Advertisements
    • 51 9 The indispensable guide to men and women at the helm erf Malaysia, Singapore and Brunei. A wealth of data fa better insight and professional reference. ;>v j ijktg Ch An t h %rN> 'r I*, y' y 1 I I „C <0* iIS 0< f Available now at $4000 J
      51 words

  • 1235 10 BUSINESS DONE ON THE SES THE KLSE BID and offer prices officially listed and business in an reported to the Stock Exchange of Singapore yes te-day with the number of shares traded ahovn in bracket* in tots of 1.000 units unless otherwise specified SECTION ONE INDUSTRIAL COMMERCIAL Ac ma (2JOB
    1,235 words
  • 158 10 8WOAPOU UNIT imUR S'pore Growth Fund 1.18'i 122'-. (HaaagMi' prim ikrMB) 0*001(1 BOND UNIT The Commerce IIS 2 28 (tor ■i pr loss) The Saving Find 1J0 LIT Income Bond lit 1.22 S pore Prog Fund O.K 1 Olxd S pore Sec. Fund S pore Invest Fund LIS
    158 words
  • 2639 10 Gr's Gr's Net 1979 Last Div Div Yld P/E Vol Day High Low Company Sale or- C'vr (000) High Low SECTION ONE INDUSTRIAL A COMMERCIAL 261 207 Aetna 238 1 15.0 2_2 65 125 1 238 238 196 123* Alcom 196 10.0 15 5.1 26.1 148 110
    2,639 words
  • 93 10 Striking prices of the options officially listed on the Stock Exchange at Singapore yesterday, the period, bids and offered prices and business done, if any, with the number of options traded shown in brackets. ■aw Par (Dec $1.40) (0.215). Paa Deetrte (Dec 11.30) (0.198 0.27S Prima (Dec 12.25)
    93 words
  • 1554 10 BID and oiler prion officially listed and businesa in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified INDUSTRIALS Aema<2 378) M—Mi (2 KB 3 04S) (1) 304 aIM (I
    1,554 words
  • 192 10 MEGA Chemicals BM: AGM to be held at Wisma Mega, 2nd Mile, Jalan Batu Tiga Lama, Kelang, on Oct 25 at 11am. Snath Eaat Aria Carp: EOGM to be held at 9th Floor, Bangunan Hong Leong, 117 Jalan Bandar, Kuala Lumpur, on Oct 25 at 12 noon. Aaatral
    192 words
  • 819 10 IT WAS Mather tall day aa the Steek ExeUage ef ycstorda) wbcu HMttuxat vu all bat certain. Sellers were rather reserved at the ipralig bat eaae eat la earn ben tewarii the elsee, wiping aat meat af the mnrglanl galas recor dwl earlier. Market aeattmeat yesterday
    819 words
  • 492 10 DESPITE a generous budget, share prices hardly moved on the Kuala Lumpur stock market yesterday. Trading was generally lethargic and lacklustre while interest remained selective. There was some buying interest in the first hour but this soon dried up and light selling forced
    492 words

  • COMPANY NEWS
    • 237 11 STOCKBROKERS anticipate favourable market reaction to Thursday's Malaysian budget proposals. One broker commented that the budget is generous all round to the average Malaysian and should boost the commercial and industrial sectors. "It will encourage greater circulation of money in business, though inflationary tendencies will
      237 words
    • 813 11  -  By DAVID CHOW A ROSY future seems to be in store for the heavy equipin en t group, Tractors Malaysia Berhad (TMB), judging from the confident mood conveyed in its 1979 annual report. This is engendered by an optimistic view of the prospects for
      813 words
    • 490 11 iU asfaecL^ by HOCK LOCK SIEW MORE and more does it seem that Malaysia Mining Corporation (MMC) a toddler at three years old but nevertheless the world's largest tin mining conglomerate is out to change the status quo in the Straits Tin market. Set
      by HOCK LOCK SIEW  -  490 words
    • LATEST RESULTS
      • 69 11 Group pre-tax profit of $4.01 million ($827,000 previously) for the year ended June 30, 1979. Turnover was $22.21 million ($14.26 million). The directors have recommended a first and final dividend of 6 per cent tax exempt (nil) payable on Dec 5 to shareholders registered on Nov 17. The
        69 words
      • 105 11 Group pre-tax loss of $6.21 million (loss $4.79 million) for the six months ended June 30, 1979. Turnover totalled $12.43 million ($12.35 million). The consolidated loss after taxation was $6.31 million ($4.84 million). The parent company incurred an after-tax loss of $1.46 million (loss $570,000 previously)
        105 words
      • 126 11 Pre-tax profit of $1.7 million ($2.03 million previously) for the halfyear to August 31, 1979. Sales value rose by 26 per cent to $34.29 million from $27.12 million, although poduction volume increased by only one per cent. The company said more than 70 per cent of its
        126 words
    • 118 11 KRAMAT Tin is now working on the newly acquired mining leases which are expected to extend the operating life of its dredges. The comapny said its dredge has resumed mining on Oct 13, after successfully crossing the Tapah-Teluk Anson Road. The transfer process was complex both
      118 words
    • 540 11 Current Ex Books Date Total for Total for Payment Date Cioae Pnyable the year Previous year Apollo 5%I Oct 11 Oct 18 Oct 30 5% 7.5% L'OB 5*1 Sept 24 Sept 29 Oct 19 5% 12.5% Dunlop Eat 10% I Sept 19 Sept 28 Oct 20 10% 23.7%
      540 words
    • 119 11 Company Particulars Ex Date Books Close Rothmana Kemayan SEA Corp Temerlok Fancy Tile MUlad Pub Text Bonus inue of 1 for 5 Bonus Issue of 1 for 4 Bonus issue of lfor 1 Bonus Issue of 1 for 1 Rights Issue of 3 for 2 w $1-20 per
      119 words
    • 596 11 ORIENTAL Holding's wholly-owned subsidiary, Kah Motors, is now negotiating with General Motors (M) Sdn for the purchase of the latter's motor assembly plant in Tampoi, Johore. One industry source said that an agreement, in principle, has, in fact, been reached on the plant sale
      596 words
    • 723 11 TEMERLOH Rubber Estates is looking forward to "sound returns" in the current year ending April 30, 1960 from its MJI.T9 million investment in palm oil mill, Temerloh Mill Sdn. Chairman Mr HTM Grummit reveals in the latest annual review that although the profit
      723 words
    • 197 11 Date Li kst Fill Year Cempaay Perled Announced Net EPS Grsss Pre-tax last year (cents) Dlv. Prsfit <$*••> Mai Bank F 23/9 28.6 17.5 25,742 Sea View F 30/9 282L Syn Resins F 4/10 10.1 652 Rah Hyd F 6/10 49.2 40.0 8,187 Msia Rice I 9/10 4.0
      197 words
  • Page 11 Advertisements
    • 140 11 APPOINTMENT JAPANESE SPEAKING EXECUTIVE We are a well established, American bank, requiring a Japanese speaking executive to further our development in Singapore. We are currently looking for a qualified professional to work in our Credit and Marketing department. The ideal candidate will possess: A University degree, preferably in Finance or
      140 words

  • 378 12 Reuter THE head of the Organisation of Petroleum Exporting Countries (Opec) yesterday held out the prospect of a move to freeze world oil prices at the next price-setting meeting of the cartel in Caracas in December. Opec chairman Mana Said Oteiba said
    Reuter  -  378 words
  • 185 12 Reuter. A COMMA was the subject of a vote in a United Nations General Assembly committee yesterday, but was soundly defeated. Thailand's representative in the Social, Humanitarian and Cultural Committee, Mr M L Birabhongse Kasemsri, proposed inserting the punctuation mark in a resolution dealing with
    Reuter.  -  185 words
  • 809 12 LONDON, Fri. Oil shares extended recent gains following Iraq's proposed crude oil price increase while other equities were a shade lower after the higher UK retail price index, dealers said. At 3.ooptn the Financial Times index was down 1.6 at 468.5. BP jumped 18p to 400p on further
    809 words
  • 358 12 SINGAPORE'S Prime Minister Lee Kuan Yew will arrive in Tokyo tomorrow from South Korea for a five-day official visit which will include wideranging talks with Japanese Prime Minister Masayoshi Ohira. Mr Lee and Mr Ohira are expected to exchange frank views
    358 words
  • 358 12 Reuter CHINESE leader Hua Guofeng will arrive in West Germany tomorrow for a week-long visit which West German businessmen hope will ensure them a major share in China's rapid development. Government and business officials have stressed that Chairman Hua's first visit here is
    Reuter; UPI  -  358 words
  • 341 12 MR MICHAEL Sherrard, QC, defending stockbroker Yong Teck Lian on four charges of insider trading, yesterday sought unsuccessfully to impeach the credit of a prosecution witness. The witness, Mr Sim See Chiang of Far East Finance Organisation, had admitted under cross examination on Thursday
    341 words
  • 136 12 AFP CHINESE Senior Vice Premier Deng Xiaoping said in Beijing that China's three-year plan to adjust the development of agriculture and industry may be extended by about one year, the major Japanese daily Asahi Shim bun reported yesterday. Mr Deng said that this will not
    AFP  -  136 words
  • 660 12 THAI Foreign Minister Upadit Pachariyangkun said yesterday that his country would fight Vietnamese forces if they entered Thai territory in pursuit of the Pol Pot forces of Kampuchea. He also said he would seek help from the United Nations Security Council if such
    660 words
  • 379 12 Reuter THE International Civil Aviation Organisation (Icao) has (ailed to persuade China to modify an order forbidding flights in areas off its Southern Coast and a major air route from Bangkok to Hongkong will have to be changed next week, a civil aviation spokesman said yesterday. He
    Reuter  -  379 words
  • Page 12 Advertisements
    • 254 12 Now! The Buku Me rah offers you an ever more effective way of selling your products and services In the Buku Merahs pink pages, classifieds business section It pays to be listed in the Straits Times Directory of Singapore. Singapore businessmen have known that for the last 82 years and
      254 words
  • Page 12 Miscellaneous
    • 58 12 Outlook for Singapore from 6 a.m. to 1 p.m. today: Generally cloudy. Report (or 24 hoars prior to 7J9 p.m. on 0ct.19 at the airport. Maximum temperature 30.2 Associated humidity 68 Minimum temperature 24.0 Associated humidity 100 Hours of sunshine 1.10 Rainfall in millimetres 4.75 Total rainfall for the month
      58 words

  • LEISURE TIMES
    • 967 13  -  DESTINATION By MARGARET THOMAS IF TOU are a weak-willed person with a weight problem, stay far away from Hongkong. Or else the only way you will leave the colony is belly first. Conscience stricken with guilt, but taste buds still crying out for the many still-to-be tasted
      967 words
    • 609 13  -  CHONG AI LENG HANOVER STREET (to be shown at Orchard) is a touching love story spiced with the danger of an intelligence assignment during World War Two. The movie has a story in a story. The main plot is the love triangle of Margaret Sellinger (Lesley
      609 words
    • 607 14  -  THAMU VEERAPAN THE QUEST for freedom from the chains of selfishness and arrogance, of violence, anger and pride has been, the central theme in Hindu religious and philosophical thought. It is this search for the Light and the Truth as represented in the Hindu scriptures that Deepava--11.
      607 words
    • 454 14  -  LEE YOKE MENG IF SOMEONE were to ask you what are the famous attractions of London, you'd probably come up with such familiar names as the Tower of London, Windsor Castle, the River of Thames and Kew Bridge. On a short stint
      454 words
    • 125 14 A MOST rafraahing rang* of graphic art by atudanta batwaan agaa 13 and IS ia on dteplay at tha National Im— Young Paopla's QaNary t« Nov 11, daily from 10.30 am to 7pm. Tha oxMbition aima to damonatrata that forma of graphic art, with thair uniquanaaa
      125 words
    • 249 16  -  BY RUTH CHENG THERE may soon be a Bally departmental store in Singapore dealing exclusively in Bally products. Negotiations to make this into reality are going on, says 28-year-old Mr Alex Kolc, owner of the new Bally Boutique at Holiday Inn. Mr Kok also intends
      249 words
    • 829 16 MOST motorists pass through several stages of car ownership in their process of mellowing. They start with a "licence buster" which more often than not bears the scars of battle, progress through sporting courting and finally come to a succession of post-nesting family saloons. Family saloons
      829 words
    • Article, Illustration
      671 16  - JOHN LIM WHILE people living in the temperate regions flee the frigid cold of their winters for the warmth and sunshine of the tropics like their feathered friends flying south for the winter, some sunbaked islanders are heading in the opposite direction, for the winter, of course. I daresay enough
      671 words
    • 155 16  -  PETER WONG WHAT *mH jArto wear "Oa Little Street b aagapereT With tkls seat, tke Lesley Paiaie let was tlsasl Paaklea Skew atarti m tke tasklea skew keU at Maaterta DeteL Tke skew featares ereetteaa frsai alz AaeHease sf Sekatnuuß, Sea Felly, Lave N' Peace,
      155 words
    • 372 16 Reuter FRENCH ready-to-wear fashions greet the 1980s in an ultra-modern mood, with futuristic trends and posterbright colours. The imaginitive and often eccentric styles will be as avant garde as the new Forum Des Halles shopping and cinema centre in Paris where most of the
      Reuter  -  372 words
  • Page 13 Advertisements
    • 20 13 9H Hindus' search fer the Light and the Trath ...................Page n Expansion plans at Thamsea Medical Ceatre.....................J11 Mttsahiahi's aU-raoader family
      20 words
    • 167 13 m f 24 Hour UPg, i f aTTiTT ....more than just a cookbook! Here, for the first time, is a local cookbook that fives you more than just recipes. More, too, than lob of fascinating and relevant information about Singaporean ingredtents and cooking methods. Singapore Food is unique because R
      167 words
  • Page 13 Miscellaneous
    • 857 13 FILM SHOWS THE Soviet Film Festival ends today with The lan •n Pyataitakaya Street. An action-packed film on the activities of a gang operating in Moscow in 1925. At 7.30pm at the Conference Hall. Tickets, at $1.50, $2.50 and $3, are available at Cold Storage and C K Tang. LAST
      857 words

  • Page 14 Advertisements
    • 123 14 'J.y KA W ,v, K'rFS m spar. h-HX -a' <** »■s¥ v. :.H ,"t. V WSmm te* < 181 v r iv }.i~* I BROKE THE 22.500 BARRIER" In fact she reached 22,530. The face that broke a record in July. With 22,530 copies of HER WORLD. The face that
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  • PROPERTY
    • 258 15 GOODWOOD Park Hotel has completed the renovation of its lobby at a cost of $1 million. Refurbishing work is now underway for hotel rooms. The new lobby is designed along European lines with much influence from the 18th century style of Robert Adam
      258 words
    • 288 15 A LEADING authority of construction law will present a revised form of, the Singapore Institute of Architects (SIA) building contract at a two-day seminar next month. Mr Duncan Wallace, Queen's Counsel and author of several books on construction law, will introduce and explain the new
      288 words
    • 852 15  -  Thomson Medical Centre, the first private hospital in Singapore strictly for women and children, plans to expand its present capacity to 200 beds. To maintain its personal touch, according to a director of the hospital, the optimum number of beds is about 200. RUTH CHENG reports.
      852 words
    • 311 15 CATHAY Organisation will open a new cinema in Ang Mo Kio New Town at the end of this month. Named Broadway Theatre, it is scheduled to commence operations on Oct 31. Located along Avenue Six, Broadway will be the
      311 words
    • 140 15 A SALES officer of the Marco Polo Hotel, Miss Elizabeth Lee (right), has been promoted to sales manager. She will now be in charge of managing the hotel's top commercial accounts. This appointment is the latest in a series of staff promotions carried out in preparation for the
      140 words
  • Page 15 Advertisements
    • 117 15 For a Successful BANKING Career study with T OXFORD for the Institute of Bankers CONVERSION COURSE The duration of the complete Wolsey Hall Conversion Course is 26 weeks so enrol now for the December 1979 examination. Also available. Wolsey Hall Courses for the Stage n Year 1 examination (New Syllabus).
      117 words

  • Page 16 Advertisements
    • 252 16 No V L V > < -r < 7 i r Q > v «S>:/ I'i S > A n i k TWO GREAT COOKBOOKS Complete Asian Meals From over twenty years of teaching her art (to Japanese, Europeans, Americans," British, Indians and Chinese) Dorothy Nig has accumulated, refined, tested
      252 words