The Business Times, 18 June 1983
1983-06-18
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The Business Times
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Title Section10 1983-06-18 1 BUSINESS TIMES M.C.(P) No. 67/1/83 SATURDAY, JUNE 18,1(83 60 CENTS10 words
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Article, Illustration354 1983-06-18 1 CHRIS LIM - By CHRIS LIM THE local stock market yesterday extended its record-breaking feat on Thursday by rising anothei 9.89 points to bring the Straits Times Industrial Index to a new high of 964.44. At the same time, the Business Times Composite Index went354 words
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180 1983-06-18 1 UPI A BRITISH organisation has signed an agreement to protect books published in the UK from being pirated in Taiwan. The agreement was signed in Taipei on Thursday by Tony Read, director of the Book Development Council of the Publishers Association of Britain,UPI - 180 words
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486 1983-06-18 1 LEE HAN SHIH - By LEE HAN SHIH DEVELOPERS and estate agents say the property market is weak except for landed properties, whose prices are held up by a shortage of supply. But rentals for landed properties bungalows, semi-detached and terrace houses are still expected to drop, according486 words
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173 1983-06-18 1 Reuter MALAYSIA, Indonesia and Thailand signed an agreement to form the Association of Tin Producing Countries (ATPC) in Bangkok yesterday. Malaysian Primary Industries Minister Paul Leong, Indonesian Mines and Energy Minister Dr Subroto and Thai Industries Minister Ob Vasurata said inReuter - 173 words
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686 1983-06-18 1 MANO SABNANI - By MANO SABNANI Companies Editor KEPPEL Shipyard's ambitious $500 million move to acquire the diversified Straits Steamship group, confirmed yesterday, will result in the creation of the largest Singapore-incorpo-rated industrial company listed on the Stock Exchange of Singapore. The new entity will outshadow686 words
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BRIEFLY...
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Article62 1983-06-18 1 Reuter THE export by Hitachi to China of five electronic telephone exchanges has been blocked by the United States under the rules of the 15nation Coordinating Committee for Strategic Goods Exports to Communist Countries (Cocom). THE US fears the exchanges may be used for military purposes. HitachiReuter - 62 words
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Article64 1983-06-18 1 Reuter THE Malaysian government is making a second loan issue of Msl.6 billion on the domestic market. The issue will comprise MJ4OO million 15 year stock at eight per cent and Msl.2 billion 20-year stock at 8.5 per cent. The issue, at par, will open on JuneReuter - 64 words
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Article76 1983-06-18 1 Reuter OVERSEAS telephone and telex rates from Indonesia will increase 39 per cent from Monday. The director of PT Indonesian Satellite Corporation, Mr J Parapak, said the increases were necessary because of the 38.5 per cent devaluation of the rupiah last March. Domestic inter-city telephone and telexReuter - 76 words
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Article84 1983-06-18 1 AFP THE Hongkong dollar strengthened further yesterday to close at 7.137.15 to the US dollar in hectic trading after opening at 7.21-7.23, a rise of over 4 per cent since its close last Friday at 7.43-7.45. Dealers attributed the rise to selling of US dollars by speculatorsAFP - 84 words
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Article72 1983-06-18 1 Reuter THE Philippines will slow the growth in gross national product from 1962's 2.6 per cent to keep the overall balance of payments deficit manageable, central bank governor Jaime Laya said. Laya told a businessmen's meeting that if the country aimed for a higher growth rate sayReuter - 72 words
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Article77 1983-06-18 1 UPI SPAIN has proposed a US$lO billion natural gas pipeline from Algeria across the Strait of Gibraltar to lessen Western Europe's dependence on gas from the Soviet Union's trans-Siberian pipeline, the Mideast report said in its current issue. The proposed pipeline, which would run from Algeria and possiblyUPI - 77 words
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Article99 1983-06-18 1 NEW YORK stock prices retreated from record heights yesterday while Wall Street took a breather from its six-day rally to await government money supply figures. The Dow Jones Industrial Average was off 2.61 points to 1,245.69 at 11am. It rose 11.02 points on Thursday to a record99 words
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303 1983-06-18 1 JOHN LIM - By JOHN LIM THE lalaad Beveaae Department ku filed twt separate petitions la the High Caart far the wladlag ap af Pea pie's Park Develapmeat Lld. Develaper Ha Kak Cheaag, wka is chairman aad maaagtag director af Peapie's Park Develapmeat, caaid303 words
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356 1983-06-18 1 GOH ENG KEE - By GOH ENG KEE TELECOMS has awarded its first commercial order for an optical fibre communication system worth US$2l million to two Japanese companies. C Itoh and NEC Corporation will supply the system which is expected to be installed by the middle of356 words
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Article116 1983-06-18 1 Reuter THE Japanese Finance Ministry has lifted restrictions on short-term Euroyen loans to foster internationalisation of the yen. Euroyen loans by Japanese banks' overseas subsidiaries have hitherto been limited to trade financing, but can now be made for any purpose for up to one year, ministryReuter - 116 words
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Page 1 Advertisements
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Advertisement234 1983-06-18 1 JJ I I CREDIT markets in the United States have improved as expectations of a slowdown in money supply growth dashed fears of a tightening in credit Page 2 DISPOSABLE food containers are expected to be more popular in future with the trend towards convenience in the food retailing sector234 words
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Advertisement77 1983-06-18 1 Treat yourself t0... Choice breakfasts, economical set lunches, sumptuous dinners, tantalising fresh cream cakes, chocolates, cookies and more. At Marie Chantale. A superb new coffee house where you can enjoy a varied sumptuous meal... and a cake shop where you can place orders for all occasions. Marie Chantale. Taste it77 words
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Advertisement105 1983-06-18 1 The Singapore's Straits Business Times World DIRECTORY at your Qf Fingertips Singapore (Buku Merah) The Leading Name in America, Japan and the Philippines. m V* W A ki l A Onginated from Genesco, USA Authorised Dealers: FRANCE SHOES *02-35 Peoples Part Comply GRACE SHOES CO #02-55 BuM Timah Shopping Ctr105 words
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BANKING AND FINANCE
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337 1983-06-18 2 Reuter THE HONGKONG Association of Banks should reduce the best lending rate by at least two per cent if the Hongkong currency remains stable in the next few weeks, Hongkong Land chairman David Newbigging said. He told the annual meeting onReuter - 337 words
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Article247 1983-06-18 2 Reuter WASHINGTON Public Power Supply System bonds and power issues of other states have been hurt by Washington Public problems that may force it into the largest municipal bond default ever, traders and analysts said. Moody's Investors Service on Thursday withdrew its CAA rating onReuter - 247 words
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689 1983-06-18 2 Reuter US CREDIT markets improved over the past two days as expectations of a slowdown in money supply growth this month dashed fears of an imminent tightening in the Federal Reserve's monetary policy, money market analysts said. "There has been a change in psychology,"Reuter - 689 words
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155 1983-06-18 2 Reuter THE RECENT cut in UK clearing bank base rates could well be reversed towards the end of this year, or next year, National Westminster Bank PLC chief economist David Kern said. He said on Thursday that rates could rebound because of financialReuter - 155 words
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384 1983-06-18 2 Reuter THE UK broad based money supply aggregate "sterling M-3 rose a seasonally adjusted 0.8 per cent or £720 million in the four weeks ended May 18, the Bank of England said. In the same period the narrow measure M-l roseReuter - 384 words
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Article477 1983-06-18 2 AMERICAN Express Co said Olympia and York, a real estate firm, has been retained to acquire the site and construct the company's 51-storey headquarters. The building, American Express Tower, will be the largest of a four-tower commercial complex under construction in the World Financial Centre at Battery Park477 words
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241 1983-06-18 2 Reuter DEMAND for gold is expected to rise more sharply than supplies and strong price gains are expected this year, London stockbrokers Vickers da Costa said in its mining and gold review. It expects the US dollar to weaken significantly in view ofReuter - 241 words
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Article66 1983-06-18 2 Reuter SAMUEL Montagu and Co has set up a new investment fund, the Montagu Floating Rate Note Fund, the first such fund in the Eurodollar market. The fund, incorporated in Jersey, will invest in floating rate notes and shorterterm floating rate certificates of deposit. The fundReuter - 66 words
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Article430 1983-06-18 2 Reuter BRAZILIAN central bank governor Carlos Langoni has expressed confidence that austerity measures being introduced by Brazil will clear the way for a renegotiation of its economic programme with the International Monetary Fund. Mr Langoni was speaking on Thursday after a meeting with aReuter - 430 words
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MONEY AND EXCHANGES
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Article22 1983-06-18 2 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 8.98 per cent.22 words
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Article188 1983-06-18 2 ASIAN ASIAN currency deposit Interbank rates as at close on June 17: US DoUara(Spot) Offer Bid 7 days 9* 9* 1 month 9*4 9H 2 months 99/10 9 7/16 3 months 911/16 9 9/16 0 months 915/10 913/16 0 months 10 1/16 9 15/16 12 months 103/16 10 1/16 Dm188 words
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Article48 1983-06-18 2 RANGE of prices offered by discount houses oil June 17: Overnight: 3 Call deposits: 2 3 Closing Buying Selling 3-month Treasury bills 2 9/16 2 7/18 3-month Bank bills 713/16 711/16 3 months CD 7 6'A 6 months CD 7 3/16 7 1/16 Source: National Discount Co48 words
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Article48 1983-06-18 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from June 20 to June 24: Offered: $150,000,000 Applied for: $212,500,000. Allotted: $150,000,000. Aeeepted bids: $99.34 approximately 37 per cent; higher bids in full. Average rati ef discount allotment: 2.610 per cent per annum.48 words
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Article68 1983-06-18 2 THE US dollar yesterday continued easier against other major currencies but trading was only moderately active throughout. Banknote rates yesterday: (HK perl): US 7.11/7.13 UK 11.75/11.96 Brunei 3.33/3.35 W Germany 2.805 2.825 Malaysia 3.055 3.075 Philippines 0.65 0.67 Singapore 3.35 3.37 (HK per 10): Burma 1.50 2.50 India 6.0068 words
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Article483 1983-06-18 2 THE US dollar closed weaker against major currencies on the local foreign exchange market yesterday. Against the local currency, the US dollar opened at 552.1196/05 and was traded down to a low of 552.1180/90 in the monring before bouncing back to close at 5J2.1205 15. The rates were483 words
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Article241 1983-06-18 2 LONG liquidation yesterday depressed the dollar to a closing 239.40 yen on the growing market view that US interest rates are tending to fall. The dollar opened at 239.75 yen, against a 239.45/ 55 close in New York, and edged higher on moderate commercial demand. But long liquidation for241 words
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Article303 1983-06-18 2 GOLD FUTURES in Singapore yesterday closed generally firmer in thin trading mainly due to a softer US dollar. Total sales for the day was recorded at 175 lots while kerb volume at 583 lots. Prompt closed stronger at US$4l6/418 an ounce against 414.50/415.50 in New York. August at 421.90/303 words
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Article29 1983-06-18 2 mr* Wed Nf* York 1175B unav U.82S Zurich 11.628 11.72S M Tfc»n Singapore 11T2B 11.82S Closing prices In US dollars a troy ounce Source: Credit Suisse, S'pore.29 words
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Article53 1983-06-18 2 Opening quotes yesterday: US —1.5278/88 Can 1.8830 60 Cross 1.2328/31 D Mk 3.8875 8925 D F1 4.3450/90 S FY 3.2330/70 B FY con 77.51/64 F FY 11.6930 7085 Lit 2304.20/2308.05 Yen 365.75 366.20 DKr- 13.8665/8805 N Kr 11.1120 1240 S Kr 11.6975 7100 A us sch 27.40/28.96 Port 155.9053 words
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202 1983-06-18 2 KLEINWORT, Benson Ltd, the largest British merchant bank, has upgraded its representative office to a wholly-owned merchant banking subsidiary here in view of the rapidly growing economies in South-east Asia. Mr Malcolm Fleming, managing director of Kleinwort, Benson (Singapore) Ltd, said: "Singapore is fast202 words
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Page 2 Advertisements
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Advertisement145 1983-06-18 2 9TH EDITION MIDDLE EAST REVIEW B3 OPEC 1: PROTECTING THE PRICE STRUCTURE OPEC 2: DOWNSTREAM TO THE FUTURE THE DIVISIONS IN ARAB STABILITY LOYALTY OR LUCRATIVE TIES: THE US DILEMMA IN THE MIDDLE EAST COMECON TRADE WITH THE REGION PICKING UP THE PIECES AFTER THE GULF WAR EGYPT'S HYDROCARBON RESERVES145 words
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TRADE AND INDUSTRY
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409 1983-06-18 3 TSANG SAU YIN - By TSANG SAU YIN COMPANIES should not implement Cowec (company welfarism through employers' contributions) simply because the Government wants them to do so. If they do, they are bound to fail. This warning was given by Dr Wan Soon Bee, Deputy Secretary-general of the409 words
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327 1983-06-18 3 THE Housing Development Board is trying to sell 490 HUDC flats worth more than (100 million to the public. It is sending out invitations to the applicants, some of whom have waited six years, to select their flats at the end of this327 words
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375 1983-06-18 3 JOHN LIM - By JOHN LIM THE National Iron ft Steel Mills (NI8M) ud Standard Elektrik Loreas AO (BEL) of West Germaay, which will jointly tender far the design and Installation of n C system Including platform edge screens fnr the mass rapid375 words
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318 1983-06-18 3 THE Singapore Contractors Association is appealing for more members. A larger membership will enhance its representations to the Government and other professional bodies, it said in its monthly newsletter, Contractor. "A recent case in point is the modification of the preferential margin scheme to benefit318 words
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Article416 1983-06-18 3 TONNES of water are wasted daily in a range of industries including factories and hotels. The cooling tower or warm wastewater at 15 to 30 degrees Celsius is not hot enough to be used for heating. Hence, it is usually thrown away through a cooling tower or simply416 words
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Article, Illustration322 1983-06-18 3 BANK of America has appointed Tsm Hue, vicepresident, as director of its newly established Singapore Training Centre. In his new capacity, the former country financial officer for the bank's operations in Hongkong will oversee the training of its trainee traders in the Asia division to enable them322 words
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492 1983-06-18 3 LIM SOON NEO - By LIM SOON NEO DISPOSABLE food containers are expected to be more popular in future with the trend towards convenience in the food retail sector. Encouraged by the growing demand for such disposable food containers, a Singapore company has decided to set492 words
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Page 3 Advertisements
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Advertisement266 1983-06-18 3 THAI'S ASIAEUROPE EXPRESS ROUTES One-stop to Copenhagen, Frankfurt, Rome and Athens,then take your choice to fcris, Amsterdam and London. Now by Royal Executive Class. Catch Thai on the GREAT CIRCLE EXPRESS ROUTE. It flics the shortest distance non-stop to COPENHAGEN, FRANKFURT.ROME and ATHENS. Then onward to the other great European266 words
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OVERSEAS
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513 1983-06-18 4 AP POPE John Paul n attacked Poland's martial law regime in the first hours of an emotional homecoming that triggered the biggest street protest since military rule banned the Solidarity trade union. Demonstrators numbering tens of thousands marched through Warsaw's streets onAP - 513 words
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256 1983-06-18 4 Reuter A COALITION of US footwear industry labour unions and companies has announced plans to file a trade complaint against France, Britain, South Korea and Taiwan for diverting nonrubber footwear to the US. The complaint, which was formally submitted to the US Trade Representative'sReuter - 256 words
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Article741 1983-06-18 4 ARRIVALS Service Local Operator Number Time From SIA SQ11 0010 LAX/TYO PAA PA5 0015 JFK/SFO/HKG FT FT71 0040 JFK/ORD/ANC/ NRT/TPE/KUL CAL CI331 0150 TPE MAS MH601 0820 KUL MAS MH671 0905 KUL MAS MH811 0910 PEN SIA SQ103 0945 KUL RBA BI421 1000 BWN MAS MH603 1020741 words
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590 1983-06-18 4 AP THE US has expressed support for Pan American World Airways and appears to spurn demands by China that the carrier be stopped from flying to Beijing because of its renewed flights to Taiwan. The dispute is the latest in the series ofAP - 590 words
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406 1983-06-18 4 UPI DRINKING half a dozen cups of coffee every day could increase amounts of harmful cholesterol in the blood and double the risk of a heart attack, a Norwegian study said. People living in Northern Norway who drank more thanUPI - 406 words
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Article207 1983-06-18 4 UPI FRANCE is changing from a nation of devoted wine drinkers to a more sober society where common tap water is taking the place of traditional alcoholic beverages at mealtimes. "Alcoholic drinks have become drinks of relaxation and pleasure," a report by the National InstituteUPI - 207 words
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WORLD IN BRIEF
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Article372 1983-06-18 4 Agencies THE Philippines is seeking help from Hongkong and Taiwan to look into textile smuggling. One of the cases under investigation involves polyester fibre worth about I -SJBOO.OOO. believed to have entered Manila from either of the two countries, the Metro Manila Times said. A NEW alrllae fareAgencies - 372 words
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130 1983-06-18 4 Reuter TAIWAN hu said it is negotiating restoration of air links with fear world airlines which serve China. Communications Minister Lien Chan named them as Japan Air Lines, British Airways, Air Prance and Lufthansa. He said the nationalists welcomed foreign airlines flying toReuter - 130 words
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431 1983-06-18 4 AP, UPI LEGISLATION aimed at forcing foreign motor exporters to build more cars and trucks in the United States is expected to be approved by the House of Representatives committee next Tuesday. A motion by the Democratic majority to cut short debate and orderAP,; UPI - 431 words
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440 1983-06-18 4 AP. AFP THE economy of Japan grew 3.3 per cent in real terms and 5.2 per cent in nominal terms. Announcing this in a preliminary report on the 1962 fiscal year ended March 31, 1963, officials of the Economic Planning Agency (EPA) saidAP.; AFP - 440 words
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714 1983-06-18 4 NYT A GROUP of 14 of Japan's leading electronics companies, working with two American companies, have agreed on standard specifications for low-priced home computers, according to the American concerns involved. The agreement, announced on Wednesday in New York and Japan, is expected toNYT - 714 words
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442 1983-06-18 4 AP, Reuter BRITISH Prime Minister Margaret Thatcher has announced that she will disband a "think tank" of experts set up 13 years ago to advise on long-term planning. After the announcement yesterday, Labour Party opponents charged that Mrs Thatcher is set on a presidential styleAP,; Reuter - 442 words
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366 1983-06-18 4 Reuter THE space shuttle Challenger is ready to blast off today on its second mission when America's first woman astronaut will be in the fivemember crew. Challenger, the second of four shuttle or biters, is due to take off at 7.33 am fromReuter - 366 words
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172 1983-06-18 4 AFP SPOT market crude oil prices have for the most part continued to climb slowly in spite of a seasonal decline in consumption, according to specialists in London. Light crudes from the North Sea and Nigeria have recorded the major demand, with theAFP - 172 words
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351 1983-06-18 5 AP THE broadest measure of US foreign trade showed a deficit of US$3.O5 billion for the first three months of this year, less than half the record $8.6 billion shortfall in the final quarter of 1982, government figures show. However, officials at theAP - 351 words
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533 1983-06-18 5 Agencies AMERICAN Treasury Secretary Donald Regan said the stock market should remain on "high ground" for another 18 months, in part because he sees the economy growing strongly for at least the next four quarters. He said Wall Street also is encouragedAgencies - 533 words
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Article158 1983-06-18 5 Reuter AMERICAN housing starts rose 19.1 per cent to a seasonally adjusted annual rate of 1,791,000 in May after a revised 6.3 per cent drop in April, the US Commerce Department said. Initially, it said April starts fell 8.4 per cent. The May housing startsReuter - 158 words
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Article1054 1983-06-18 5 Vesaal Berth Arrival Departure KEPPEL WHARVES Agios Nikolas 35/6 alongside 18.6/2300 Jenson IV 22 alongside 18.6/0700 Kannlkar 18 alongside 18.6/2300 Ned Madras 44 alongside 18.6/1500 Ned Alkmaar 47 alongside 18.6/0100 Straits Star 21 alongside 18.6/1830 Barber Perseus 46/7 18.6/0400 18.6/2100 B D Zamacola 33/4 18.6/0130 18.6/1200 Builder1,054 words
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Article183 1983-06-18 5 Reuter THE US House of Representatives Ways and Means Committee, in an assault on President Reagan's tax cut plan, voted on Thursday to limit the reduction due in July to about US$7OO a lyThe Bill, pushed by opposition Democratic leaders, is designed toReuter - 183 words
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428 1983-06-18 5 Reuter AUSTRALIAN Prime Minister Robert Hawke is seeking a gradual movement toward (ewer trade restrictions, particularly in tlft highlyprotected clothing and motor vehicles industries. He said Australia may provide some increase in trade restrictions "for a strictly limited period in one or two other areas"Reuter - 428 words
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304 1983-06-18 5 Reuter FRENCH government representatives are pessimistic over the prospects of agreement later this month on a new system of setting rates for government-subsidised credits on export contracts. General agreement between the Western European nations, the United States and Japan was reached in AprilReuter - 304 words
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336 1983-06-18 5 Reuter LEADERS of the 10-nation European Economic Community gathered in Stuttgart yesterday for a critical three-day summit, but there is widespread pessimism about their chances of success. They face seemingly insuperable differences over the community's budget and there have been few signs that memberReuter - 336 words
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226 1983-06-18 5 Reuter THE European Economic Community has called on its executive commission to present by next Easter a proposal that could lead to the sale of lead-free petrol throughout the 10-nation bloc. Environment ministers agreed on the need for the greatest possible reductionReuter - 226 words
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Page 4 Advertisements
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Advertisement21 1983-06-18 4 Fly Pan Am To The USA Daily And To More Than 45 U.S. Cities. Pan Am.You Can t Beat The Experience.21 words
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Page 5 Advertisements
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Advertisement491 1983-06-18 5 TIMES INTER-BUSINESS HOUSES ATHLETICS MEET TO Saturday, October 1,1983 National Stadium 6 p.m. 4 For the Champion Business House A Nissan Cabstar plus The Times Organisation and Tan Chong Challenge Trophy 4 For winners in the following: 4 x 100 m 4 x 400 m Tug-of-war Best Performer Champion Team491 words
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Article509 1983-06-18 6 A SINGAPOREAN found himself high and dry during a recent business trip to Europe because he drinks no alcohol, dislikes soft drinks and gulps plenty of plain water. The Germans thought he was unfriendly when he turned down their invitations to down a few mugs of509 words
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Article, Illustration774 1983-06-18 6 JIM ABRAMS - By JIM ABRAMS AP ALMOST every morning, squeezed into a few paragraphs in the human interest section of Japan's newspapers, are reports of family annihilation parents killing their children before ending their own unhappy lives. In recent days, there was the case of the TokyoAP - 774 words
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Article, Illustration728 1983-06-18 6 VICTORIA BUTLER - By VICTORIA BUTLER UPI A KING'S ransom in jade, pearls, rubies and sapphires lures the world's top gem dealers to an annual auction of treasures in the steamy and dilapidated Burmese capital of Rangoon. At the 20th annual Burma Gems, Jade and Pearls Emporium recently,UPI - 728 words
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Page 6 Advertisements
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Advertisement145 1983-06-18 6 A remarkable new series specifically developed :o satisfy the real needs of people studying alone. I* The BREAKTHROUGH Series Specifically developed for homestudy, this series opens the door to successful self-education. Topics cover a range of business subjects for college and school students studying for examinations and for working people145 words
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Page 6 Miscellaneous
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Miscellaneous845 1983-06-18 6 TV.&IRAD 10' SINGAPORE 5 12.45 PM Opening folowed by Sesame Street 1.50 Saturday Matinee Little Lord Fauntieroy(b/w) 3.35 12th SEA Gaines Badminton Championships: Men's Team final: Title-holders Indonesia beat Malaysia 3 matches to 2. 4.30 Indonesian Movie Chicha Chicha is brought up by her gramdmother in East lava. When she845 words
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1313 1983-06-18 7 HAROLD SCHMECK - Science has made many contributions to life, among them the significant gift of test-tube babies. But now medical scientists are taking laboratory fertilisation a step further and working on fertilising ovum by donors and not prospective mothers. HAROLD SCHMECK fills us in on thisNYT - 1,313 words
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967 1983-06-18 7 JAMES SMITH - By JAMES SMITH AP BLACKS can stay at the five-star Carlton Hotel in Johannesburg. But they cannot see movies in the Kine Centre theater complex across the street. Those two facts of South African life reflect the contradictions of apartheid in 1983. Thirty-fiveAP - 967 words
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Article883 1983-06-18 7 DAVID YOUNG - Expatriate Inrestment By DAVID YOUNG HOW can you get tax relief without having a taxable income? The answer, for British expatriates, is to have a mortage on their UK home. As the Inland Revenue is hardly renowned for its generosity, any effective handouts to expatriates should883 words
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Article, Illustration880 1983-06-18 7 DOUGLAS SOUTHERLAND - By DOUGLAS SOUTHERLAND UPI TODAY, one can travel throughout most of China Independently. One can go off the beaten tourist track, doing it on the cheap. Cheap means as little as US$35O to $400 a month, all costs in China included. This is compared withUPI - 880 words
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Article274 1983-06-18 7 ROBOTS, computerised numerical control machines and other impressive looking pieces of equipment were proudly put on show when Chartered Machine Tools held its official opening earlier this week. Naturally, what the machines made were also displayed. These included an oddly-shaped piece of metal (part cylindrical, part274 words
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Page 7 Miscellaneous
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Miscellaneous765 1983-06-18 7 I -11-OHE CROSSWORD J CRYPTIC PUZZLE 9 Literally a dog'g dinner? (9) 10 Writing about a border (lower <») 12 To steal away is wrong (4) 13 Go along with when made to go (6) 14 Roae is right, Eric (7) 15 Game to change the label outside the entrance765 words
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Page 8 Advertisements
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Advertisement890 1983-06-18 8 Where to wine, dine and entertain BUI with the American Express Card ■■I "if you don't already have the Card, call *****33 for an application form' VickiDoveft ii fie Sophisticate V w nn nappness Great live entertainment at the Inn of Happiness, Top of the Hilton. Nightly at KLSOpn 20890 words
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Advertisement234 1983-06-18 8 > f,V A great piacr to unwind with friends Let our 3 talented bands entertain you with sensational musk while you sip ever a cool drink. 20% discount on all drinks during happy Hours (5 pm 7pm daily) Business hours: 11.00 am to I.ooam on weekdays, up to 2.00 am234 words
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RAW MATERIALS
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Article1007 1983-06-18 9 COFFEE: Robusta coffee futures were mixed at midday yesterday, between £14 a tonne above and £5 below Thursday's close in traded positions. Activity centred in Sep which moved in a £20 range around Thursday's close. Steady buying emerged in Sep in late morning, lifting it £14 above Thursday's1,007 words
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Article175 1983-06-18 9 CHINESE Pradaee Exchange, Singapore, naan closing prices per 111 kg yesterday. («count *U: Bulk fob $120.00 sellers, old drum (in second hand drum) fob $133.00 sellers, new drum fob $137.00 sellers. Capra: Mixed (loose) $70 buyers. Pepper: Muntok white pepper fob Asia NLW $370.00 sellers, Sarawak white pepper175 words
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Article142 1983-06-18 9 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) Cattaa yarn: China Blue Phoenix 20s 2,510; 32s 3,270, 40s 3,395 (per bale of 400 lbs). PiUitu raw cattaa: LSS 6.19, 4F 6.16, 289F 6.20; NT roller ginned 6.18 (per lb). CLOTH in142 words
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Article325 1983-06-18 9 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.04, 100 per cent second class 0.76, 100 per cent third class 0.72, 25 per cent new crop 0.58, B-10 per cent no stock. THAI BROKEN: A-super 0.62. Special 0.56.325 words
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Article239 1983-06-18 9 RUBBER PRICES In Singapore yesterday closed slightly higher with July One RSS buyers quoted at 227.50 cents per kilo, up half a cent from Thursday's close. Morning prices was quietly steady on balance after a marginally lower opening. Afternoon prices gained some ground on light speculative buying. In Kuia239 words
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Article333 1983-06-18 9 RAS prices In cents per kUo yesterday: Nooa (per Ulo) Buyers Sellers Int 1 R.S.S prompt (.o.b. 22 00 226 00N Int. 1 R.S.S. July 227 00 227.50 Int. 1 R.S.S. August 228 50 229.50 Int. 2 R.S.S 219.25 221.25N UK/Coat 218.25 220.25N Int. 3 R.S.S. 215.25 217.25N333 words
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Article121 1983-06-18 9 NOON SSI end SMR pneaa reel ardajr ■AS Jmty Aaca St (Carraat Mtk) <Forward Mtk) (1-ton pallet) Boyera S< titers Buyers ft 208.00 sllers SSR 30 207.00 208 00N 210.00N SSR SO (1-U» pallet 1 xnoo 206 00N 204.00 208.00N MBKLB Jaiy AM* It SMR CV (1-toa121 words
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284 1983-06-18 9 LEVELS fluctuated quietly within a four-cent range in featureless trading with turnover continuing on the low side, Hal May, Catter, Bath A Ca said in in its review of the Singapore and Malaysian rubber markets for the week ended June 16. A pervading lack284 words
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Article32 1983-06-18 9 Rubber: June 17 Singapore: July: 227.50 cents (up 0.50 cent) Malaysia: July: 247.00 cents (up 0.50 cent) Tin: M 530.86 per kilo (up 6.00 cents) 131 tonnes (down 9 tonnes)32 words
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Article69 1983-06-18 9 THE STRAITS TIN price In Peung yesterday advanced six cents to M&M a kilo, mainly because of buffer stock manager purchases. The new price remains within the ITA lower range of M 529.15 and M$32.M. The continued market firmness came from the BSM's ability to take up the69 words
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Article124 1983-06-18 9 THE Malaysian crude palm oil market yesterday closed easier in quiet trading, with operators cautious about India's new contract terms. In June, south dropped MJI to MJ796.50 per tonne while in July, central fell MJ2.50 to MJT92.50 and south MJ1.50 to MJ792.50. August saw south fell MJ2.50 to124 words
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Article85 1983-06-18 9 SOYBEAN FUTURES in Chicago on Thursday closed higher, with July up 4Mi US-cents a bushel and August finishing 7 4 cents higher. July traded in an eight-cent range. Active European meal purchasing, prompted in part by an J ea f er dollar, boosted overall price levels, traders said. Strength85 words
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Article101 1983-06-18 9 WHEAT FUTURES in Chicago on Thursday closed 5V4 to 6 y« cents a bushel higher in active late trade. July ended near the top of a SV« cent range. Prices added to earlier gains after midday, triggering buy-stop loss orders around the July-based 350«/« cent level and fueling the101 words
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INTERNATIONAL STOCKS
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Article194 1983-06-18 9 JUNE 1* Francs Actions Sulsaes 2S4 2 Alusulsse Br. 735 unch Alusulsse Reg Brown Boverl Br. 251 1280 3 10 Clba Getgy Br. 2000 10 ate Oelgj PC 1580 20 Clt* Gelgj Rm Credit Sulsae Br 812 2 2020 10 Credit SuUk Reg 385 -1 Elektrowatt Br. 2580 unch194 words
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Article100 1983-06-18 9 JUNE M Lire Bastogl 185 4. Brl ***** 00 Centrale Ort 1737 -3 Cond Acqua Roma 144 2 Erldanla 7710 -45 Flat Ort 2775 *****0 15 Oenerall Olm mm +10 in Prt* 4580 00 2350 96 Italcementl Ort ***** 920 Italgai 182 2 Leoetlt Ort ***** -120 Mediobanca SflBOO100 words
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Article77 1983-06-18 9 JUNE 16 Aef-Telefunken BASF Bayer BMW Commerxbank Contl Oumml Dm 73.00 144JO 130.00 -0J3 Hoechst Hoeach Horten Karstadt 142J0 53 40 148.50B 2S6.00B 1.6 0.6 338.00 187 50 97 00 15 •f 1.7 12 Llnde Mannesmann 3B3JXJB 147 JO 257.00B 13 Defussa Rwe ST A Schertng Siemens Thjssen Indu77 words
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Article210 1983-06-18 9 JUNE 16 C* Abltlbl 23* unch A lean <2* Algoma 32* Bank Mont 20* Bank Nova Scotia Bell Tel 42 26* unch RP Pin IAA 24* 4-H Brascan 32* 1* Camp Red Lake f!*n Imp Rk 33* Can Prtn Mg r&npft/ 1 45* Car Una OTCeefe Cmbl Rd Lk210 words
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Article197 1983-06-18 9 JUNE 16 FU ARM 376.50 >3 Ahold 156.80 2J Akao 64*70 >0.9 AMEV 119.00 0J Am fas to no unch Amrobnk 60 50 4-1.4 Berfou Berk 27.50 0J Bo La 95.00 1 Borsucer 147 00 -4 Boska 47 70 0J Burtet 48 J0 -0.9 CaJand 31 JO Calv *****197 words
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Article1147 1983-06-18 9 NEW YORK WALL STREET stock prices on Thursday climbed for the sixth straight day, with the Dow Jones Industrial Average reaching another record as investors were encouraged by new signs of economic recovery. The Dow Jones Industrial Average, which moved as high as 1251.10 during the1,147 words
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Article389 1983-06-18 9 SHARE prices yesterday closed higher in moderately active trading led by solid gains among leading resource and gold stocks. Prices rose throughout morning trading, but eased slightly in the afternoon. Near the close the AllOrdinaries index was up 4.6 points at 599.0, having fallen 10.4 points in the previous389 words
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Article374 1983-06-18 9 HONGKONG THE stock market yesterday closed firmer but below the day's highs, mainly because of late profit-taking. Trading was active throughout. The Hang Seng index ended 12.02 higher at 966.89, and over 80 points above last Friday's close of 886.52. Brokers attributed the advance this week to374 words
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Article462 1983-06-18 9 THE yen's sharp recovery and Wall Street's rise to a record high on Thursday pushed share prices higher in fairly active trading yesterday. The market average rose a provisional 57.35 to close at 8,702.68 on a volume of 650 million shares. The Tokyo Stock Exchange Index462 words
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Article143 1983-06-18 9 THE stock market yesterday closed quietly steady. JUNE 17 Bahts Aokham Thai A*u Fibre Ajruthaya In? And Trust IS unch Bangkok Bank 2M -2 Bank Of Ayudhajt Ltd ISO unch Metal Bos Rama Tower Saha Union Sermsuk Slam Cement Slam City Cement Slam Credit South Asia Fibre Thai Commercial143 words
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Article82 1983-06-18 9 JUK* IT Aco)« If inlnf tnjln Phil Ami Mining AUm* Coo B. Bacoto Ootd Bute Petroleum Bmiwt Oon. B n*» Peso* MM 0414 a 0 008 10B OJi unch 0-001 ♦1 unch unch ♦a Pint PhU Hkld 7.10 04 Lepajuo ***** ita ><«rtnduqyi B -S.4 lUntMl ***** unch Oriental82 words
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Page 9 Advertisements
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Advertisement115 1983-06-18 9 Continued on page 11 Dine Chinese with the Card M L R I C A ISITE X P R- E S Sl^! r?y V: t t J« i Enjoy a bottle of hennessy XO on the house! Now, when you dine with the American Express Card at the Prawn House115 words
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3458 1983-06-18 10 BID and offer prices officially listed and business in and reported to the stock Exchange of Wtntapore yesterday with the number of share* traded shown In brackets in lots of 1,000 units unlees otherwise specified. All Times Settlement Contracts are quoted after3,458 words
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Article187 1983-06-18 10 SNGAPOUE UNIT WST (Maaafarr' prtm kr Jhh The Commerce 3 44 3Cxd The Savtngi Fund 2.05 117 S pore Prof Fund 1.57 l.H S pore See. Fund 131 151 S'pore Invest Fund 1.15 lJ2sd S pore Equity Fund 153 163 DIAMOND MOT «TOU (Minfiri' prieas tar June IMS)187 words
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Article3461 1983-06-18 10 1 Hi«k Low Coapaay Last Sale +orCr*a DW D1t Ctt Gr*a rw Net P/E Vol (*000) Day High Low 8ECTION ONE INDUSTRIAL ft COMMERCIAL Jd aoe 3M 410 11* rn 387 aw •46 930 996 1400 SB 340 000 no 411 411 1040 ao 910 MO an3,461 words
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Article2017 1983-06-18 10 810 and offer price* officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. DUDUnBUIA M—BB (148B) (2) 3.40 Ale«i (3.483 3.505) 350 (71) 3.48 (40)2,017 words
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Article886 1983-06-18 10 THE l«eal market mn< to aastber hv Ugh yesterday. Prtees were ap almest mw the tairt, with tdviieea Mtaunhertag ieeUaes by 121 te 38. The Strmito Times ladastrtol lalei shet ip 1.81 peiats to 1M.44, breaktag the prevtou day'* reeerd high ef tIKM. At the same886 words
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Article577 1983-06-18 10 THE Kuala Lumpur stock market row to a new alltime high yesterday in brisk trading. The 30-counter New Straits Times Industrial Index rose 12.30 points to 1340.96, breaching its previous high of 1329.01 registered on June 6. Total turnover shot up to 14.06 million577 words
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COMPANY NEWS
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Article, Illustration602 1983-06-18 11 THE various rationalisation exercises now being undertaken by Multi-Pur-pose Holdings Bhd (MPHB) will, when completed, streamline its operations and place it in a better position to take advantage of operational efficiencies. Following a series of acquisitions made in previous years, MPHB, according to its chairman Tan602 words
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Article155 1983-06-18 11 TAT Lee Buk Limited: AGM to be held in the Conference Room, 63 Market Street #05-00, Tat Lee Building, Singapore 0104 on June 20 to be followed by the EGM. o SIN Heag Chan (Malaya) Berhad: AGM to be held at 64A Jalan Bukit Bin tang, Kuala Lumpur155 words
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204 1983-06-18 11 RAHMAN Hydraatte Tim'* pre-tax profits for tfee lint half af the emmmt f]aaarial year slipped by a bent IS per eeat, largely aa a remit af tta expert eeatrete aad lewer rubber prleea. The eempaay's latest Interim statement shews pretax prsflts at ealy Ms4J4i mimes204 words
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435 1983-06-18 11 TAN Chong Motor Holdings Bhd expects its current year performance ending this Dec 31, to be in line with the year just past, according to chairman Tan Sri Datuk Tan Yuet Foh in his annual address to shareholders. But he warns that although recovery from435 words
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Article279 1983-06-18 11 JUNE 16 Rand INDUSTRIALS A Alpha Abercom AK And CI Amaprop A MIC Barlows no m MB $30 3400 1336 unch unch 5 -10 90 unch C O Smith M29S mi 15B0B Curtle Finance De Been Ind Edcon Ednn FedVolk 3*0 HI ***** 4MB unch -too ruftt 415B unch279 words
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Article86 1983-06-18 11 JUNE 16 m FORWARD MARKET Accc »u unch Artad Astur 1160 <s 1313 10 -11 10 Canpac Cock 1006 111 unch 1 Ot Been Ebes 433 BIO -1 10 Etoetrotwl Ob-lnno- Bm 0«T too m 1130 -30 unch Of Bru Lamb Hobot Petro Rjt Dutch J006 6T30 3360 too86 words
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Article194 1983-06-18 11 JUNK 16 m CORBEILLE AlrUquKJe M B 8 N Qwnll [anonr 17* -4 S GROUP B Carre four 1*2 rumnclere de L "Union 04-10 >.!.». 3B430 -IS -0.7 4-4.4 C 8 F (ThomaonCaf) inn -01 Moet-Henneaiy Hnfl.ParlhAi I1K iaw -13 CM rnncalat do PttroM Credit roncler De mnct IB194 words
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Article343 1983-06-18 11 KRAMAT Tin Dredging sees little likelihood of improved profits in the current year, due to the expected continuation of tin export control. Operations are expected to continue on a reduced scale with minimal accumulation of stocks, according to chairman Mr Abdul Rahim Aki in his343 words
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International ROUNDUP
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Article248 1983-06-18 11 profit improved significantly in the first (our months of 1983 over the same 1982 period, chairman H Clarke told the annual meeting. Profits from money-brok-ing operations show a small rise on 1982, with the most positive results coming from a joint venture which began trading in Tokyo248 words
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Article120 1983-06-18 11 said its improved profit and borrowing position is only a first step towards recovery and improved profitability and there is no certain evidence of a major improvement its markets. The group was commenting on its results for the year to March 31 in which it made pre-tax120 words
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Article1078 1983-06-18 11 Carreat Ex Beeka Date Tata) tar Tatal far API Paymeat 3%TE(b) Dale Jun 13 Oeee Jun 23 PayaUe Aug 1 Ike year 3%TE Prevtaaa y 2.3%TE(a) Amm 7V*% Jun 16 Jun 23 Jul 15 7Vi% 21.7% Imkiiii 7*%(b) Aug 11 Aug 18 Aug 31 7Vi% 7W% Af* 5%1,078 words
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Page 11 Advertisements
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Advertisement316 1983-06-18 11 Malaysian Containers (1974) Berhad (Incorporated in Malaysia) NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Ninth Annual General Meeting of the Company will be held at Melati 1 (level 3), Subang View Hotel, Jalan SSI2/1, Subang Jaya, Selangor on 10th August 1983 at 12.00 noon. 1. To316 words
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Advertisement261 1983-06-18 11 a D Malaysian Containers (1974J_8erhad (Incorporated in Malaysia) COMPANY ANNOUNCEMENT The directors are pleased to announce that they have decided to recommend a final dividend of 11% less 40% income tax in respect of the financial year ended 31st March 1983. The said dividend will be paid on 15th August,261 words
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Chief Price Changes
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Article173 1983-06-18 12 Rises Indices Lien Hoe Bedford BO* 745 700 70 50 June 16 June 17 C Sugars 1310 40 BT Composite: 941.71 961.41 K L Industries 690 40 BT Indicator: *****6 *****9 Keppel Ship Bolton 478 285 494 40 39 34 ST Industrials: 974.55 984.44 Dutch Baby ST Finance: 2532.84173 words
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Article, Illustration157 1983-06-18 12 Rises Indices Lien Hoe 820 60 June 16 June 17 C Sugars M Cement 1460 940 60 45 MBT Index: *****47 *****11 Selprop Utd Est 740 860 40 40 NST Industrials NST Finance: 1328.65 1340.95 2392.33 2409.58 Choc Prod 490 38 NST Hotels: 659.51 659.51 U M Flour157 words
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Article, Illustration710 1983-06-18 12 CHOO AI LENG - By CHOO AI LENG SSANGYONG Cement (Singapore), the third company to seek a listing on the Stock Exchange of Singapore this month, plans to raise $38.5 million from the equities market. The company yesterday launched an offer for sale of 11 million710 words
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Article801 1983-06-18 12 THE STOCK market yesterday closed mixed with end-account technicalities making for a quiet session. At 3pm, the Financial Times index was down 3.2 points at 712.5. Leading industrials were easier on balance but oils met renewed demand reflecting hopes of some stability in world crude oil prices, dealers801 words
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Article54 1983-06-18 12 H.K.HANG SENG Friday 966 89 Thursday 954 87 Week Ago 886.52 AUSTRALIAN INDUSTRIALS Friday 743.4 Thursday 741.6 Week Ago 744.1 ALL ORDINARIES Friday 599 0 Thursday 594.5 Week Ago 5990 FINANCIAL TIMES INDUSTRIALS Thursday 715.7 Wednesday 715.5 Week Ago 716.4 DOW JONES AVERAGE INDUSTRIALS Thursday 1248.30 Wednesday 123754 words
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Article256 1983-06-18 12 MALAYSIAN state economic development corporations have been exempted from paying income tax until 1990. Business Times understands that the decision to exempt the SEDCs was made after considering the socio-economic role that they have to perform under the New Economic Policy. The SEDCs, formed under state256 words
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Article229 1983-06-18 12 KILLINGH ALL Tin (Malaysia) Bhd's registrars, Harrisons Malaysian Plantations Bhd has advised shareholders that there is a delay in the despatch of new 50-cent share certificates following the share split from Mil to 50 cents par value. New Killinghall share certificates arising from the bonus issue and share229 words
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Article88 1983-06-18 12 Gl IS.\ESS MmJtysU Bbd: Group pre-tax profits rose to M$18.24 million for the six months ended March SI, IMS (against million for the six months ended Peh 28, 1182), on net soles of $111.31 mill on ($114.84 million). Earnings after tax increased to $11.83 million at the gronp level88 words
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Article826 1983-06-18 12 Taking Stock... By Hock Lock Siew SPECULATORS who rushed in after Chin Teck Plantations' announcement of an over-generous bonus issue are now caught in a messy situation. Chin Teck announced on April 25 a surprise four-for-one bonus issue and the price of the normally dormant counter shotBy Hock Lock Siew - 826 words
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Page 12 Advertisements
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Advertisement380 1983-06-18 12 Straits Steamship Company Limited ANNOUNCEMENT The Board of Straits Steamship Limited ("Straits") was informed on 17th June 1983 that the following announcement had been made by the Boards of Ocean Transport and Trading PLC and Keppel Shipyard Limited: a OCEAN TRANSPORT AND TRADING PLC SALE OF SHAREHOLDING IN STRAITS STEAMSHIP380 words
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Advertisement113 1983-06-18 12 GDKf OIIalfB©!® The Business Times Senior Appointments Every day, Business Times is avidly read by 50,000 executives in senior and middle management, involved in every industry in Singapore communications, banking and finance, engineering, construction and industrial, trading J and manufacturing and professional if practice. They are the best prospects if113 words
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Page 12 Miscellaneous
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Miscellaneous54 1983-06-18 12 OUTLOOK for today: Partly cloudy; scattered showers. Report tor U hoars prior to 7M pm on Jane 17 at the airport: Maximum temperature 31.0 Associated humidity 76 Minimum temperature 25.3 Associated humidity 94 Hours of sunshine 4.75 Rainfall In millimetres w3.0 Total rainfall for the month 84.4 Total rainy days54 words
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