The Business Times, 28 July 1979

Total Pages: 16
1 16 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. US/1/19 SATURDAY, JULY 28,117* 50 CENTS
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  • BRIEFLY...
    • 70 1 AP NEW YORK, Fri. Several major US banks raised their prime lending rates to 11.75 per cent today, joining a move begun earlier in the week by First National Bank of Chicago. Citibank, the second largest US commercial bank, No. 4 Manufacturers Hanover Trust Co and No.
      AP  -  70 words
    • 60 1 AFP TOKYO, Fri. Japan plans to reduce its reliance on oil to 50 per cent of all energy sources by 1990, International Trade and Industry Minister Masumi Esaki said today. He told a press conference that the ratio, compared with the 74 per cent for 1978, will
      AFP  -  60 words
    • 67 1 Reuter WELLINGTON, Fri. Prime Minister Robert Muldoon has announced policy moves aimed at relaxing restrictions on foreign investment in New Zealand. He said foreign investors will in future be allowed to buy up to 25 per cent of new shares in a New Zealand company without prior
      Reuter  -  67 words
    • 70 1 UPI BANGKOK, Fri. American and Italian ships sailed to shore today with 221 boat people, many saved from starvation and thirst in the South China Sea, including a Vietnamese boy who spent three days adrift clinging to a small chunk from a wrecked ship. Hanoi today charged that
      UPI  -  70 words
    • 51 1 Reuter NEW DELHI, Fri. Caretaker Premier Morarji Desai today bowed out of Indian politics, defeated by his arch-rival Premier-Designate Char an Singh who went about forming a new government. Mr Desai said in his letter of resignation: "I shall not hereafter take part in any political activity."
      Reuter  -  51 words
    • 71 1 AFP JAKARTA, Fri. Indonesia and Papua New Guinea (PNG) today reached a basic agreement on their administrative border arrangements. The agreement is expected to end the frequent border incidents in which Indonesian troops occasionally crossed into PNG in hot pursuit of separatist rebels from Irian Jaya. The PNG
      AFP  -  71 words
    • 81 1 UPI NEW YORK, Fri. The stock market searched for direction early today in moderately active trading. The Dow Jones industrial average, which managed to gain 0.25 point on Thursday, was off 1.61 points to 838.13 in the first hour. Advances led declines, 509 to 441, among the 1,418
      UPI  -  81 words
  • 138 1 Rises Malex 356 Glenealv 240 S B S 200 C C M 525 Nat Iron 520 U E 160 O U E 298 Keck Seng 278 OUT 189 Dah Yung 134 Syn Resins 145 Esso 430 Sin Chew 408 14 13 11 10 10 10 8 8
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  • Article, Illustration
    159 1 Rises Indices Inch KK Consplant Wrts Hume (M) Glenealy DBS N Iron CCM OCBC A Hitam (t) SBS UOB Malex Rahman Hyd S Lumber C4C Keck Seng JC-MPH 750 545 250 238 510 520 530 695 1300 198 342 370 428 229 277 277 136 60 15 12
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  • 696 1  -  DEVELOPER UNDER RECEIVERSHIP By TEO TECK WENG THE HOUSING and Urban Development Company (HUDC), the government's middle-income housing development arm, has acquired a second lot of private dwellings for sale to its growing number of buyers. It has bought 38 "smaller" units at the 38-storey
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  • 131 1 ABOUT half the number of petrol stations will remain open tomorrow. An Esso spokesman said 20 Esso stations will remain open tomorrow. The supply of diesel to these stations were stepped up yesterday and will be continued today. There are 41 Esso stations in Singapore. A Mobil
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  • 556 1  -  By MANO SABNANI MALAYAN Credit has revised its Malaysianisation scheme under which all its interests across the Causeway will be grouped under a single holding company to be controlled by Malaysians. The new scheme proposes to use the main Malaysian property subsidiary, Century
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  • 244 1 SINGAPORE has opeaed a eimlate la Taiwan which will aIM have far Hides to haadle trade and travel matters between the twa caaatrles. A Chinese bastaessmaa has heea appelated an temporary eaasai to head the sfflee. This was daae last maath. Besides handling
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  • 394 1 FINANCIER Amos Dawe, once reported to have been chased around the world by communist agents, has been arrested in San Francisco by the Federal Bureau of Investigation (FBI) for extradition to Hongkong on charges involving stock transactions with Moscow Narodnv Bank (MNB),
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  • 83 1 A GROUP of 44 government officers spent a day on Bat am Island yesterday. They belonged to the Administrative Services Association and were taken on an "educational tour" of the Indonesian isle. This is the first time the association is paying a visit to the island. The officers
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  • Page 1 Advertisements
    • 0 1
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    • 245 1 Breakouts Pointing to Major Gains Recent Selections Show profits up to Four Times Equity If you buy SOYBEAN MEAL futures in the low $190s with a six-week upswing the adding $45 per ton, you more than quadruple margin money required in such a trade. This has been the result of
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    • 66 1 MPS SUPPLIERS wa5ted................. 2 *11 r0ute.................................... 7 CHARAN'S g0a1.... S SINGAPORE as a financial Ef. *U companies fight wind- STOCK market rep0rt............... If fail tax 5 sp p ndHaibatlM bears trait.. 11 ON management 5ty1e5............. C CHALLENGE fer mannf actorFRANCE keeps elsser watch on er5.....—... 12 LEISURE TIMES MEMOPAD t,
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    • 116 1 The well-balanced PPC o n BUSINESSMEN WANTED We have a business proposition for you. How would you like to own your own premises in a location that's central yet outside the CBD? Where there is ample parking spaces and the building facilities are excellent. In a new building that's well
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  • TRADE AND INDUSTRY
    • 425 2 COURSES AND TALKS April 30-Aug 24: Tuition Courses for the Australian Insurance Institute Associateship, SITC, SITC June 22-Aug 18: Systematic training for effective parenting, Waterloo Street Centre, Dept of Extramural Studies Aug 13-27: Managing People At Work, NPB Town Training Centre, NPB Aug 22-23: How to Identify and
      425 words
    • 182 2 A NIGERIAN trading company Impressed by Singapore-made products is interested in contacting local manufacturers and exporters to supply it with a large variety of goods. Since it has no business contacts In Singapore, Shade Stores, a leading Import and export company In Nigeria, has approached Business Times for
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    • 490 2  -  By GOH ENG KEE THE just and fair application of safety regulations is crucial if all responsible parties are to make it their mission to enhance the safety of the working environment. Minister of State for Defence Bernard Chen said this task calls for understanding.
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    • 215 2 THE United States Agency for International Development has provided a grant of US$2OO,OOO (5J430.000) towards the establishment of an Asean economic research programme. The establishment of fellowships under the project, Asean Fellowships on Economic Research, tenable at the Institute of
      215 words
    • 63 2 THE Department of Extramural Studies of the University of Singapore will hold a course on "Electronic Instrumentation and Measurement" in Nissen Hut 10 A. beginning Aug 7. The course is to acquaint participants with the basic principles of electronic instruments and measurement techniques. The course fee is 545
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    • 355 2  -  By JOHN LIM HUME Industries (Singapore) is now negotiating with a Government department for the construction of a retaining wall at Yio Chu Kang. The sizeable project is estimated to cost a few million dollars. Hume executives said the contract for the project has
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    • 233 2 COLO Storage Holdings has appointed Mr Brian Sydney GlMMck as deputy general manager (finance) with effect from July 2, 1979. A Fellow of the Institute of Chartered Accountants in England and Wales and a certified public accountant, Malaysia, Mr Glassock has had extensive experience in financial management
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    • 156 2 THE Singapore Anti-Narcot-ics Association (Sana) will improve and expand its preventive and publicity services. Mr Baey Lian Peck, the president of Sana, said the association will start a massive programme of preventive education directed at all segments of our society. For a start, Sana will set
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  • Page 2 Advertisements
    • 47 2 Si id V Tips From Nights At The Turntable —$3.00 a copy. io.uu a copy. Mcc Authentic 5000 System To be given away to readers of The Craft of Sound Further details, pick up a copy or call Irene at *****91 for subscription. A Times Periodicals Publication
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  • REGIONAL
    • 339 3 MALAYSIAN palm oil producers and refiners have agreeed to adhere to the CIF countback pricing system for the sale and purchase of local crude palm oil. This was the outcome of a meeting between representatives of the Palm Oil Refiners Association of Malaysia (Poram)
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    • 171 3 AFP JAPAN'S inflation rate last month registered a small 0.1 per cent increase over May or a 3.8 per cent rise compared with a year earlier, the Prime Minister's office reported yesterday. It said the consumer price index as at the end of June stood
      AFP  -  171 words
    • 218 3 EFFORTS of the Malaysian National Tobacco Board (NTB) to raise production and improve quality of locally-grown tobacco have paid off, particularly in Kelantan and Trengganu which together account for about 75 per cent of the total production. Primary Industries Minister Paul Leong Khee
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    • 67 3 AFP AN appeal by Hongkong shipowner NWL Ltd to prevent union "blacking" its 123,000-ton bulk carrier Nawala was dismissed by the House of Lords in London on Thursday. The Nawala. a flag-of-convenience vessel, was "blacked" at the Norwegian port of Narvik by the International Transport Workers' Federation (ITF)
      AFP  -  67 words
    • 267 3 Reuter AUSTRALIAN Finance Minister Erie lUHmm said in Sydaey yesterday that Australia has u extremely important role to play In South-east Asia's etwmk development. Mr Robinson said Australia relies increasingly «n South-east Asia aad after developing countries far the products of labour-intensive
      Reuter  -  267 words
    • 692 3 AP INDIAN Prime Ministerdesignate Charan Singh says one of his major goals will be to narrow the gap between the rich and the grinding poverty in which millions of Indians live. The appointment of the 76-year-old rural bloc leader on Thursday climaxed a hectic
      AP; AP photo  -  692 words
    • 244 3 Reuter MALAYSIA is seeking to increase the amount of a soft loan it is negotiating with Japan from the originally planned 21 billion yen, Treasury sources said, but declined to say by how much. They said a negotiating team has just returned from Tokyo
      Reuter  -  244 words
    • 212 3 UPI FOURTEEN giant ore carriers sat idle yesterday at the port of Dampier in Western Australia because of a nine-week-old Hamersley Mines iron workers strike. Most have been there since the start of the strike and all for at least 14 days. The strike,
      UPI  -  212 words
    • 72 3 Reuter JAPAN and China will resume talks on the proposed joint development of offshore oil reserves in Pohai Bay, north China, next week when a Japanese delegation visits Beijing, the state-run Japan National Oil Corp said. The negotiations, which have been suspended since last February, cover
      Reuter  -  72 words
  • Page 3 Advertisements
    • 374 3 DBS FINANCE Now Offers You Four Great Housing Loan Schemes NORMAL ANNUITY SCHEME Financing of up to 85% of the assessed value of the property. Loan periods of up to 20 years. On attractive terms. Repayments by equal monthly instalments. For properties under construction, you now only have to make
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  • RAW MATERIALS
    • 364 4 DURING the earlier part of the week ended July 26, rubber prices were taken temporarily to a high of 299.50 cents a kilo for August One RSS before slipping back again to finish about unchanged on balance, says Holiday, Cutler, Bath A Co. in its
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    • 282 4 Reuter NEW surtaxes on the export of Indonesian coffee have been levied in conjunction with the lifting of the ban on the issuing of new export licenses. An official decree issued by Indonesian Trade and Cooperatives Minister Radius Prawiro said the government has imposed a surtax
      Reuter  -  282 words
    • 380 4 TRADING conditions remained generally steady to firm in light and scattered trading on the Singapore produce market yestenlay. All grades of pepper, except Lampong Asta, were marked up by 12.50 a picul on improved local demand. Until the close there were still some orders unfilled. The better demand
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    • 142 4 CHICAGO soybean futures on Thursday closed higher in all but the March contract, which finished fractionally lower. Gains ranged from 7'« US cents in nearby August to 1 cent a bushel elsewhere. Trader expectations that the grain trimmers strike in Chicago might soon be settled prompted commercial buying that
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    • 107 4 WHEAT futures in Chicago on Thursday closed with gains of 7'4 to 3 i US cents a bushel, several cents beneath the day's highs. Traders said gains resulted from local short-covering and speculative buying, in part prompted by firm export demand and talk that new Soviet purchases of US
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    • 77 4 C.I.F. North European ports. In US dollars per ton unless otherwise stated. LONDON: Thur* Previou» Malaysian 5% Ha bulk per tonne September 664slr 672slr Sumatra 5% f fa bulk July 677 sir 690slr August 675slr 685slr'678pd September 670/672 pd 6 8 2 sir/ 680pd October 672 pd 682
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    • 159 4 THE SUGAR futures market yesterday closed easier with losses of 0.06 to 0.10 US cents, dealers said. Trading continued quiet with no trades registered as on Thursday. Sugar future* closing prices: Pwvtaii CMi| CMi| Sept B.S 40 8 45 50 Oct 8.65 TO 8.75/80 Jan 9 40 80
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    • 199 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-godown) CattM jran: China Blue Phoenix 20s 2.275 32s 2.800 40i 3,020 (per bale of 400 lba). Ptoee pifc: China Butterfly and Globe brand unq; Dragon Head unq. Five Lambs unq; Flower and Butterfly
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    • 111 4 Reuter NO DECISION has yet been made on whether to allow five coconut oil mills in various stages of being established to continue, the Philippine Board of Investments said. Four other mills on which work or financial arrangements have not been made have
      Reuter  -  111 words
    • 344 4 THE Singapore rubber market yesterday closed higher with August One RSS buyers quoted at 297.25 cents per kilo, up 4.50 cents from Thursday's close, dealers said. Morning prices were marked up about 4.25 cents on higher London advices, forward demand and reports of Vietnamese border tension, they said. Afternoon
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    • 456 4 R A S prices In cent* per kilo yesterday Noon (per kilo) Clone (per kilo) Buyer* Int. 1 R.S.S. prompt t.o.b 298 00 Int 1 R.S.S August 296 50 Int. 1 R.S.S September 295 50 Int 2 R.S.S 286 75 UK Coat 285 75 Int 3 R.S.S 283
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    • 134 4 NOON SSR and SMR I I RAS A«(aat Septea ber iCtrrttl 1 Mlkl !Forward Mlhi Buyer* Seller* Buyer* Seller* SSR 20 ll-ta i pallet > 282 00N 284 OON 282 00 284 OON SSR 50 ilia < pallet* ***** 281 00N 279 00 281 OON MRELB SMR
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    • 69 4 THE STRAITS tin price In Penang yesterday fell Msl9 to $1,991 a plenl, $49 below the new International Tin Agreement ceiling. The continued weakness sn the London exchange was the main factor, affecting market sentiment, dealers said. However, there were reports of local and Japanese light baying Interest
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    • 30 4 Rubber: July 27 Singapore: August: 297.25 cents (up 4.50 cents) Malaysia: August: 297.50 cents (up 4.50 cents) Tin: M$l,901 (down $19) Official offering: 172 tonnes (up 12 tonnes)
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    • 335 4 SINGAPORE: Yesterdays closing prices in SS per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 0.96. 100 per cent second class 0 85. 100 per cent third class 0.80. 25 per cent new crop no stock. B-10 per cent OTO. THAI BROKEN A-super 0 62.
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    • 633 4 COFFEE: Robusta terminal opened £16 down to £5 per tonne up yesterday morning. Turnover totalled 467 lots. Values fell back initially under commission house and local selling which found buyers rather hesitant. A steady opening had originally been forecast. However, after recording losses of up to £20 some
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    • 205 4 THERE appears to be nothing to prevent tin prices from falling back to £6,000 a tonne or less and the metal's downside potential is around £5,700, commodity trading company RaynerHarwill Ltd said in London in its weekly commodity review. Commenting on the
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  • ASIAN STOCKS
    • 525 4 Tokyo Source: DBS-Daiwa THE market continued inactive with an estimated 220 million shares changing hands yesterday, but some smalland medium-sized incentivebacked issues were selectively bought. Energy-related stocks such as Nippon Oil, Teikoku Oil and Maruzen Oil also rebounded again on rotation buying by short-term traders,
      Source: DBS-Daiwa  -  525 words
    • 69 4 FINANCIAL TIMES INDUSTRIALS Thursday 441.5 Wednesday 444.4 Week Ago 471.9 DOW JONES AVERAGE INDUSTRIALS Thursday 839.76 Wednesday 839.51 Week ago- 827.30 LONDON DOLLAR PREMIUM Thursday 21'< to 3J' 4 Wednesday 1®' to 20 H.K.HANG SENG Friday ***** Thursday 900-21 Week ago 578 44 SYDNEY INDUSTRIALS Friday 486.07 8ft
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    • 252 4 THE stock market yesterday closed mixed, dealers said. Ao Kham fell 22 baht to 452, Bangkok Investment and First Trust six baht to 218 and 158 respectively, and Siam Credit, Asian Fibre and United Flour Mill four each to 244, 196 and 280 Bahts Asia Credit 244 4 Asia
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    • 254 4 Cents INDUSTRIALS A. C. L 185 A N L 180 unch A P M 126 unch Ampol Pet. 06 unch B H P 912 2 Bank NSW 273 J Rnnl 221 4-1 Brambles 170 -5 C B A 244 1 C. S R 345 unch Coal Allied 7006 Dunlop
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    • 242 4 HKI Amtl Rubber 3 BOB unch Associated Hotels S30 ♦0.15 Bowaters Cheong Kong II 13.90 0J Chins Enn 4.25 unch Chins Light 21.70 ♦0.5 City Hotels City Urban Comsopol Cross Harb Tunnel 1J1 9.06B 005 Ernst Asia Navlf 6 ION Far East Exch Phllex 0.1575 0.0075 H/S Hotels- 1940
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    • 92 4 Petoi Acoje Mining 0078 unch AUu Con A AtUi Con. B. iaoo ♦1 Baguto Oold OOM unch Bcncuci Con. B Br Ooodrlch MJO 18.00 0J unch CDCP 15.00 unch Inco B L&ndoll Lcptnto B. .1100 0.0 IS Marlnduqu* B 100 -018 Meralco 17 JO >•.1 Oriental A Oriental B
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  • Page 4 Advertisements
    • 147 4 Rreview the new Britannica 3 i Get one of these Bantamßritannica books FREE! flllw Bantam/Britannica books on (1) The Arabs; (2) The U.S. Government; (3) Disaster! and (4) The Ocean, f The publishers of Encyclopaedia Britannica 3, the most advanced and comprehensive encyclopaedia available today, are offering you this opportunity
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  • OVERSEAS
    • 693 5 AFP AP AMERICAN oil companies, whose second quarter profits reached an all-time high, were poised for an allout fight against President Carter's proposal to finance his new energy plan by taxing their "windfall profits." They reacted quickly to President Carter's appeal for
      AFP; AP  -  693 words
    • 599 5 NYT SHARP increases in the cost of energy reverberated through the US economy last month, sparking a 1.0 per cent increase in the consumer price index, the Labour Ddepartment reported. The cost of food, however, showed a sharp moderating trend and advanced a mere 0.2 per cent
      NYT  -  599 words
    • WORLD IN BRIEF
      • 384 5 Agencies HEEDING East German leader Erich Honecker's urge to improve the "little things of every day life", an East German travelling salesman suggested that alarm clocks be delivered with pliers to replace everbreaking wind-up mechanisms. The salesman, in a letter to the a labour union newspaper
        Agencies  -  384 words
    • 120 5 AFP RUMOURS that unidentified commandoes had blown up a tanker in the Gulf area spread at the Baltic Exchange of the London freight market. Lloyds, the British maritime insurance group, said they have not received any information, but was questioning its agents in
      AFP  -  120 words
    • 416 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge Hai Lee (0830 alongside Tsu) 47 Barcelona Maru (after Emma Bakke) 33 34 Betelgeuse (1830 after Pabloeverett) 45 Gamzat Tsadasa (0530 shifts (after Rezekne) 15 16 San Juan (after Gudrun Bakke)6 7 Sangerhausen (shifts after Gamzat Tsadasa shifts) 44 Nedlloyd Nagoya
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    • 352 5 NYT NIGERIA, the second largest source of crude «U far US refineries, Is discussing with its customers the possibility of ratting production at least If per cent, several oil companies said. The Impact of the reduction, which would diminish warM supplies a( crude by 219,919
      NYT  -  352 words
    • 385 5 AP THE CONSERVATIVE government in Britain announced plans to sell part of its holding in the British National Oil Corporation (Bnoc). The government earlier announced that it will sell part of the assets and shares of other nationalised corporations, including British Aerospace Ltd and
      AP  -  385 words
    • 193 5 AP PRESIDENT Sandro Pertini of Italy has decided on Filippo Maria Pandolfi. the Treasury Minister, as the next premier-designate, official sources said. The 51-year-old Christian Democrat was handed the mandate after unsuccessful attempts by two other politicians to form a government and end Italy's six-month-long political crisis.
      AP  -  193 words
    • 758 5 ARRIVALS Service Local Operator Number Time From SIA SQ201 1245 HLP MAS MH684 1245 KCH SIA SQI 1325 SPO HNL HKG MAS MH651 1330 (MES) PEN KUL SIA SQ6I 1340 BKK SIA SQ455 1340 BWN SIA SQI 17 1345 KUL GIA GA900 1400 HLP SIA SQ105 1500
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  • Page 5 Advertisements
    • 654 5 INDIAN BANK (Whollv owned by Government of India) Head Office: 17 North Beach Road. Madras 1 BALANCE SHEET AS ON 31ST DECEMBER 1978 CAPITAL AND LIABILITIES PROPERTY AND ASSETS Capital (Wholly owned by Government of India) Reserve Fund and Other Reserves Deposits and Other Accounts Borrowings from other Banking Companies.
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  • 415 6 SINGAPORE'S monetary authorities will probably be more than happy with the knowledge that the country is a major funding centre for Asia. In some ways, this fact alone gives credibility to the Republic's claim to be the financial centre for the region.
    415 words
  • 318 6 NO EXECUTIVE other than an adjutant to Attila the Hun would be likely to approve the method by which Mr Gucci calls his secretary to his side (see Straws in the Wind, this page). It is plain that if you go on treating people like
    318 words
  • 222 6 MODERN management methods will be a vital aspect of the second industrial revolution. As our industries increase their technological content, and as our workers improve their skills, the need for modem managers will become even more apparent. But can management be taught? Or is it a matter of
    222 words
  • 1265 6 MICHAEL DECOURCY HINDS reports on the energy supermarkets which have sprung up in the US in the wake of the energy crisis. NYT ENERGY supermarkets have arrived. Stocked with hundreds of products to create and conserve energy, these new stores constitute a welcome milestone in the energy
    NYT  -  1,265 words
  • 531 6 THE day, by the clock, begins at 0001 hours. But the day, by Jade cinema, begins with the 9.00 pm show the previous day. A colleague went to Jade cinema just before 9 on Wednesday night intending to catch the last showing of The Greek Tycoon,
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  • Page 6 Advertisements
    • 92 6 A PENGUIN BESTSELLER Vt THE MALAYAN TRILOGY This famous trilogy wittily dissects the racial and social prejudices of post-war Malay during the chaotic upheaval of Independence. Through a succession of splendidly colourful characters, Anthony Burgess delineates the conflict and confusion arising from the almost enforced mingling of cultures. Time for
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  • Page 6 Miscellaneous
    • 1362 6 Relevant opinions NOW that the rains seem to be «pou as, II makes sense to cancel your various HtdMr appointments and give same of your attention to the little box. Today It offers us a fair variety of programmes. Being a thinking Singaporean (wby else do yon read this paper),
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  • 2004 7  -  By GILBERT SEDDON Reuter FRANCE is keeping a close watch on the oil route through the troubled waters of the Gulf and the Indian Ocean. Meanwhile the US shores up its military presence after the Iranian revolution and a Soviet naval build-up in the area.
    Reuter  -  2,004 words
  • 833 7  -  FORUM With IVOR SWEIGLER FT SOME food experts have been complaining for years that although we may eat more, we eat worse. Old people complain that varieties of fruit and vegetables that they grew in their youth have disappeared. And it is true
    FT  -  833 words
  • Page 7 Advertisements
    • 445 7 This year's National Day feature will carry a thought-provoking and possibly controversial theme: the New Society that is being built on the industrial base now being constructed. What will the impact of the latest NWC recommendations and new emphasis on high technology mean to the man in the street? What
      445 words
  • Page 7 Miscellaneous
    • 32 7 BriStcfW: Flank EhckenS wece u>e go f*&p«n uJHO'' U)MPtT LJMCJZC 0 R€IPJD£i?S ufVl LONG roemoßies U>»LL RCCPSLL p\ Pptttcrn or eeHRViOOR. SHORT uV Before, me D^JCO^CRV Of TUC. uumcmcjOKl \zoocneP.SuitNDLC. or u....
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 271 8 JULY 26 Frs CORBEILLE Air-Liqulde 470 4 B S N Gervais Danone 630 >5 C S F (ThomsonCsf) 371 1 Cle Francaise des Petroles 197 >2.5 Compagnie Financier* Compagnie Generate 344 50 -1.4 Credit Foncler De France 480 10 •0.4 H ache tie (Llbralrle) 224 8.5 Machines Bull 56
        271 words
      • 210 8 JULY 26 FIs ABN 338 50 1 Ahold 89 20 12 Akzo 27 90 0.4 AMEV 92 00 1 Am fas 110 30 -07 Amrot Bank 71.30 -02 Bergoss 57.20 -03 Berk 9420 -0.5 Bols 64 20 1 Borsumlj 163 50 -05 Burhmann 6120 -03 Byenkorf 7100 22 Calve
        210 words
      • 190 8 JULY 26 Francs Actions Sulsses 293 -1 Alusulsse Br 1270 25 Alusulsse Reg 404 unch Brown Boverl Br 1885 15 Clbft OI|y Br 1280 15 Clba Gelgy PC 101S S Clba Gelgy Reg 692 Credit Suisse Br 2225 5 Credit Suisse Reg 428 1 Elektrowatt Br 2025 15 George
        190 words
      • 214 8 JULY 28 Dm Aef-Telefunken 48.00 Akzo 2540 0.4 Allz Leben 760 00 10 AUz Vers 440.00 2 BASF 135 80 1.1 Bay H T Wbank 247JO 2.4 Bay Vbank 280 00 Bayer 128 SO 12 but ***** unch RWW 187 80 06 Cassella Mb GOB Chem Verw 247 00
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      • 92 8 JULY 26 Prs FORWARD MARKET Acec Arbcd Astur Brascan Bru-Lamb Canpar Cock De Brrrl 411 2800 U0 SB# 1795 S24 478 251 8 unch 8 28 8 3 Ebes Electrobel Ob-Inno-Bm Gev Hobok 2185 6470 2800 1100 2825 5 180 unch -18 30 Petro Ryl Dutch Sldro Soc Ocn
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      • 103 8 JULY 26 Ure Anlc Aiaoc Oen Bastogi Central* 15 SO ***** 795 538# unch 1050 -1 80 Flat Flnnder Ocn I m mob IFI Prl Ilalcementl Ilaltas Italuder Marnell M Pf Ml ao» 23W ***** 800 380 50 822 55 -S -05 -12 unch 25 -15 36 5 Marelli
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    • 1308 8 NEW YORK LATE strength in selected blue chips and in takeover candidates left the New York stock market narrowly higher in moderate trading on Thursday. The market had been weak most of the session but was aided by some late bargain hunting and a better showing for the
      1,308 words
    • 225 8 JULY 26 CS Abitlbi 18 s A lean 39 u -\k Algoma 27 v. 4* Bank Mont 24 H Bank Nova Scotia 24 l JH Bell Tel 214 unch Beth Corp BP Can Ltd ZT 26 V, Brascan 22 H Camp Red Lake 22 u Can Imp Bk 27
      225 words
    • 303 8 JULY 26 Rand INDUSTRIALS A Alpha 15S -3 A bercom 233 unch AE And CI OS unch AMIC 1500 Barlows MO unci) rj ftupr aso 10 CNA 250 Currte Finance «7 unch De Beers Ind Filron 11 325B Edgars Ev?ready Fed Volk 200 unch Fuflt 120 unch Gardtan Olenanl
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  • Page 8 Advertisements
    • 441 8 See Page 4 for Asian stocks Where to wine, dine and entertain Everything's here at the Mirabelle >*■ w f \jeo All the ingredients for an enchanted evening are here Superb Continental cuisine and choicest vintage wines In an elegant and romantic atmosphere complete with candlelight and strolling minstrels And
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  • BANKING AND FINANCE
    • 887 9  -  Since its launching as a financial centre a decade ago, Singapore has introduced a variety of investment instruments that have made it a leading international capital market in Asia. HSUAN OWYANG, director and general manager of the Overseas Union Bank, reports on
      887 words
    • 520 9  -  By RUTH CHENG THE YEN is not expected to attract significant capital inflows until after the market re-focuses its attention away from the deutschemark and the currently high-yielding pound sterling. In the past five weeks, the yen has strengthened by about
      520 words
    • 417 9 CHEMICAL Bank has predicted an easing in shortterm interest rates later this year. The prediction was made in the bank's latest US economic outlook which also forecast restrained GNP growth through 1980. "As the economy slips this year some movement in the direction of
      417 words
    • 130 9 AP. CHAIRMAN Michael Sandberg of the Hongkong Bank is being smarter than he lets on in his bid for Marine Midland Bank of New York, Fortune magazine says in its Aug 13 edition. "By taking over Marine Midland, the 13th largest US bank, he will
      AP.  -  130 words
    • 97 9 Reuter. THE US Treasury now expects the United States to show a moderate to substantial payments surplus on current account next year. Undersecretary for Monetary Affairs Anthony Solomon, who said this, declined to give figures but added that the Federal Reserve forecast is for a
      Reuter.  -  97 words
    • 83 9 Reuter. INDONESIA'S narrowly-de-fined money supply, M-l, rose 3.2 per cent in June to 2.93 trillion rupiah from 2.84 trillion at end-May, and 30.8 per cent from 2.24 trillion in June 1978, provisional Bank Indonesia figures showed. Currency in circulation rose to 1.43 trillion rupiah at end-June
      Reuter.  -  83 words
    • MONEY AND EXCHANGE$
      • 531 9 THE US dollar was generally traded at firmer levels yesterday with continued support from the central banks. However, it closed weaker against the mark and the local unit. Dealers said that the market was cautious pending the release of the US trade figures. Against the yen, the dollar
        531 words
      • 188 9 Asian rates ASIAN currency deposit interbank rates as at close on July 27: 7 days 1 month 2 months 3 months 6 months 9 months 12 months US DolJ«n<8pot) Offer Bid 10 15/1010 13/1S 12 ir. u>. ii'. 11 3/18 11 1/16 1! 3/10 111/10 10. 10'. 10 13/10 1011/10
        188 words
      • 52 9 RANGE ot prices offered by discount houses on July 27: Overnight 4'»'» Call deposits 4'»'» Closimg Bu> ib( Selling 3 month Treasury bills 4 1/16 4 9/10 3 month Bank bills 7'« 7 1 3 month CD 7 7 6 month CD 7 9/16 7 7/16 Source: National Discount
        52 words
      • 21 9 THE average rate at which Singapore banks are currently prepared to lend to their best customers is 8.25 per cent.
        21 words
      • 225 9 SINGAPORE gold futures yesterday closed generally lower in line with easier overseas gold prices, in moderate trading, dealers said. Turnover fell 277 lots from 389 lots on Thursday with interest centred on September. October and December contracts, they said. September closed lower at U*****.00/50 an ounce against $310.50/311.50 overnight,
        225 words
      • 169 9 STERLING yesterday opened lower against most major currencies on modest profit-taking from the continent, while the dollar was quoted slightly higher, dealers said. The pound lost half a cent to open at U552.3190 3200 from its early indicated 2.3240 50, and dropped to 4.2330 67 marks from Thursday's 4.2440
        169 words
      • 67 9 RESULTS of tender held yesterday for 92-day and 182-day Treasury bills: «-4a> Mil* la be lB-tey Mlla laaaed aa to be laaaed AMI aa Jaty M Offered: $45,000,000 S2S.000.000 Applied: S89.250.000 S47.00.000 Allotted S4S.000.000 S2S.000.000 Accepted bids 66.81 97 46 approximately approximately 80" higher TY r; higher
        67 words
      • 187 9 THE US dollar yesterday held basically steady from morning levels in late trading here with operators reluctant to take large positions ahead of the weekend and the US trade figures due later in the day, dealers said. The US unit held steady at 1.8208/14 marks from 1.8201/13 in the
        187 words
      • 115 9 THE US dollar for overnight delivery yesterday closed at 215.45 yen, compared with a 215.20 opening and 214.35 at Thursday's close. Trading was light with volume US$443 million. After opening firm, reflecting its overnight strength in New York, the dollar fell to a low of 214.85 yen at mid-morning,
        115 words
  • Page 9 Advertisements
    • 81 9 BUSINESS TIMES GIVES YOU THE EDGE Every single business day, Business Times keeps you informed of essential financial, commercial and industrial news. Economic Trends. The Money Market. Price Indices. Company News, Reports. Opinions and predictions. Can you really afford to miss Business Times? Subscribe now Cut out and post today
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  • DEALS DONE ON THE SES AND KLSE
    • 1439 10 BID and offer prices officially listed and business- In ana reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "sett". Big Board deal
      1,439 words
    • 162 10 4 1/2% 1/8/80 (250.000) (1) 99 40 4 3/4% 15/9/80 (250.000) (2) 99.52 5 1/4% 1/3/81 (250,000) (100 JOB *****6) (2) ***** 5% 15/4/81 (250.000) (2) 9960 5% T F 1/5/83 (250,000) (*****8 *****6) 5 3/4% T F 15/6/81-84 (250.000) (*****8) 7% 15/4/85 (250.000) (*****8 100 90S) 7%
      162 words
    • 86 10 Striking prices of the options officially listed on the Stock Exchange of Singapore yesterday. the period, bids and offered prices and business done, if any, with the number of options traded shown in brackets. Haw Par (Sept $1.20) (0.288 O.3SS). laefceape (Sept $1.50) (0 388 Pu Electric (Sept
      86 words
  • 159 10 S pore Growth Fund 1.08', 1.13'i SINGAPORE UNIT TBU8T INCOME BOND UNIT (Managers' prtra tor ill W) (Carnal pr Income Bond Ires) The Commerce The Saving Fund 203 1.33 2.15 1.41 111 1.16 S pore Prog Fund 0.35 1.00 S pore Sec. Fund 1.77 1 86 NASA BI
    159 words
  • 2599 10 1979 Gr'» Gr's Net 1 Last Div Div Yld P/E Vol Day High Low Company Sale or- C'vr COOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 261 207 Acma 231 3 15.0 2.2 6.4 115 2 231 230 190* 123* Alcom 173 10.0 15 5.7 23.0 142 no
    2,599 words
  • 1688 10 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified INIHNTRJAL« trmi (2.405) AJasaata (2.668) Umm (1.798 1 80S) (I) 1.79 (1)
    1,688 words
  • 149 10 Malayaa Credit: AGM to be held in Mandarin Court (4th floor), Mandarin Hotel, Singapore, at 12 noon on Aug 11. 8PP Ltd: AGM to be held at 315, Alexandra Road, Singapore, at 10.00am on Aug 14. Treaggaaa Devetopmeat and Maaagemeat Bkd: AGM to be held at 1st Floor,
    149 words
  • 595 10 SHARES staged a rally on all fronts at the Stock Exchaage of Singapore yesterday. Trading volume was ap aad price raage widened. Gains in some eases were op to I per eeat as speculators singled not a few conntors for play. The rally
    595 words
  • 668 10 SENTIMENT took a turn for the better on the Kuala Lumpur stock market yesterday and shares chalked up fair gains in moderate trading. Trading started on a cautious note but after the first session, light buying interest began to filter through. Fairly widespread support in
    668 words

  • COMPANY NEWS
    • 703 11 Too little regard paid to F N's conservatism THE current market rating of Fraser Neave shares reflects too little regard to the undervaluation of its assets, according to stockbrokers Laurence, Prust and Company. In its latest newsletter, Laurence, Prust says that the share rating should allow for the extreme conservatism
      703 words
    • 1046 11  -  By CHAN BONG SOO SPP Ltd's (formerly Singapore Paper Products) rationalisation programme has begun to bear fruit. For the six months ended June 30, 1979, it turned in an unaudited group pre-tax profit of $406,193 against 554,779 in the corresponding period last year. After paying
      1,046 words
    • 480 11 STOCKHOLDERS of Allied Chocolate Industries can take heart that they may finally see some return from their investment. Chairman Chuang Ming Chi has said that "barring any unfore-seen circumstances", the board will consider recommending a dividend for the current year. No dividend has been paid
      480 words
    • 282 11 Current Ex Books Date Total for Total for Payment Date Cloae Payable the year Previous year FAN 18% Jul 10 Jul 17 Jul 27 26% 22% D Baby 10% Jun 19 Jun 29 Jul 26 10% 7.5% PMC 5%(n) Jun 28 Jul 10 Jul 26 10% 15% Grand
      282 words
    • 111 11 Particular* Ex Date Book* Cloae Yeo Hiap Seng Bonus Issue of 1 (or 3 Rights Issue of 1 for 3 (n $2.25 per share Jul 24 Jul 31 Spore Glaaa Bonus Issue of 1 for 5 Jul 26 Aug 2 B Semb Bonus Issue of 3 for 1
      111 words
    • 617 11 AFTER an exceptionally good year, South East Asia Development Corporation (Seacorp) is looking forward to another period of satisfactory growth. The local stock market boom last year boosted Seacorp and this was reflected in the results of its subsidiaries involved in the securities industry,
      617 words
    • 175 11 TRENGGANU DEVELOPMENT MANAGEMENT on July 19 paid $250,000 to its wholly-owned subsidiary. East Coast Trading, in exchange for 250,000 shares of SI each in the subsidiary. The subsidiary now has a paid-up capital of $250,002. (JNILITE ELECTRICAL INDUSTRIES has asked the KLSE for an extension till Aug 4
      175 words
    • 327 11 MAGNUM Corporation's two block purchases of 6.786 million shares in plantation company West Country have provoked a number of queries from the Kuala Lumpur Stock Exchange which wants to know how the purchase prices were established. Magnum earlier this month increased its stake in West
      327 words
    • 419 11 u by HOCK LOCK SIEW HAD Jack Chia-MPH chose not to Malaysianise its operations across the Causeway last year, it would have presented a very strong set of figures this year. But having decided to do so sooner rather than later, the group has had to compile explanations
      by HOCK LOCK SIEW  -  419 words
  • Page 11 Advertisements
    • 353 11 T 1 Hamlyn Paperbacks I THE HEIR -by Christopher Keane When oil was discovered in a small desert sheikdom, the dogs of war begin to gather and Rama Khan's homeland falls prey to giant corporations and hired mercenaries. Accustomed to the civilized delights of the West, this international playboy, businessman
      353 words

  • 357 12 HONGKONG banks and deposit-taking companies rely heavily on Singapore for funding. As at the end of March, liabilities of Hongkong banks to banks outside Hongkong totalled US$ll.5 billion (5525.3 billion), of which $2.6 billion was due to banks in Singapore, $2 billion to banks
    357 words
  • 633 12  -  By RAHIM KASSIM MANY Japanese importers and exporters are willing to buy more Singaporemade goods if local manufacturers can meet their standards. The Singapore Fair in October, organised by the Singapore Manufacturers Association (SMA), will be the testing ground. Greater inroads into the Japanese
    633 words
  • 376 12 Reuter CHINA'S basic policy on importing foreign technology for its modernisation programme will not change, according to Mr Gu Ming, Vice-Minister of the State Planning Commission. He told a foreign weekly magazine that "as economic construction plans are being readjusted, appropriate adjustments must also be made
    Reuter  -  376 words
  • 817 12 LONDON, Fri. Prices closed easier in subdued trading, dealers said. At 3pm, the Financial Times index was down 3.4 points at 458.1. Leading industrials averaged losses of around 2p and government bonds fell as much as point. Dealers said the market was depressed by UK short-term economic prospects
    817 words
  • 124 12 AP A THREE-DAY textile conference to revise an existing US-South Korea textile accord ended on Thursday without reaching any agreement, Korean Commerce and Industry officials said yesterday. The US delegation, led by Mr Michael Smith, senior negotiator for the Special Trade Representative of the White
    AP  -  124 words
  • 231 12 MANY of the problems in a day-to-day working relationship between a manager and his secretary develop from discourtesy, an abrupt manner, or simply a lack of appreciation of each other's difficulties. Miss Alice Seah (above), Singapore's Ideal Secretary 1979, said this recently on her return
    231 words
  • 328 12 UPI THE JAPANESE government has come up with a new five-year oil and natural gas development programme, incorporating a joint Japanese-South Korean venture on the continental shelf of the East China Sea. The 1980-84 plan prepared by the Development Committee of the
    UPI  -  328 words
  • 416 12  -  By HSUNG BEE HWA JURONG Town Corporation is building a $15 million industrial park at Kolam Ayer as part of its policy of restructuring the industrial landscape to meet the needs of skill and technology-orientated industries. The objective is to create specially-designed "garden industrial
    416 words
  • 193 12 THE MINISTRY of Communications plans to increase the number of Central Business District taxis. This was disclosed by Mr Ong Teng Cheong, the Minister for Communications, at the NTUC-Com-fort annual general meeting yesterday. Mr Ong noted that the CBD taxi scheme has been a success.
    193 words
  • 71 12 JAPAN has extended Burma a grant of 3.3 billion yen (Ss33 million) to improve research, medical, and educational facilities, the Japanese Foreign Ministry announced yesterday. A ministry official said that 2 billion yen has been provided to establish a metallurgical development and research centre, 600 million yen
    71 words
  • 156 12 AFP THE UN Law of the sea conference is making progress on two important issues a definition of continental limits and a formula for dividing income derived from the sea in these areas. Sources close to the eighth session of the conference said that on continental
    AFP  -  156 words
  • Page 12 Advertisements
  • Page 12 Miscellaneous
    • 59 12 Outlook for Singapore from 6 a.m. to 1 p.m. today: Mainly fair. Report for 24 hours prior to 7.31 p.m. on July 27 at the airport. Maximum temperature 26.6 Associated humidity 87 Minimum temperature 22.2 Associated humidity 100 Hours of sunshine Nil Rainfall in millimetres 30.8 Total rainfall for the
      59 words

  • LEISURE TIMES
    • 1529 13  -  DESTINATION By LIN WEN HUI SITUATED at a temperate 40 degrees north and 116 degrees east, Beijing, the beautiful capital city of the People's Republic of China, is steeped in a rich history of culture and revolution. It has, also, a most deceptive climate. Armed with thick sweaters,
      1,529 words
    • 275 13 THE MARITIME MUSEUM of the Port of Singapore Authority at Sentosa continues to screen the following films till the end of the month at its premises. Today, on Monday and Tuesday, six films will be screened throughout the day. At 10am The Sea and the Japanese depicts
      275 words
    • 607 14  -  By FRANCIS CHIN Give it everything you've got Though you may not have a lot t Give it time Give yourself a chance to grow Once you've made it You nill know Just let it grow THIS SONG, sung by baritone Joseph Olfindo, was one of
      607 words
    • 616 14  -  Ong Kim Seng's paintings capture those misty mountains amid the warmth of the people living in the Himalayan Shangri-la LEE YOKE MENG takes you on an imaginary trip to that dream in Lost Horizon amid local artist Ong Kim Seng's portrayals of the Himalayan grandeur. LEE YOKE
      616 words
    • 127 14 THIS PICTURE, "Hope and Despair H" is one of many great works by the late German wood sculptor Ernst Barlach. Among some of his classic wooden sculptures are "The Listeners" and "Communion of Saints". Barlach's art is hest described by Kathe Kollwitz as creations which stem
      127 words
    • PROPERTY
      • 732 15  -  By TEO TECK WENG WHILE shopping centres are now lining up at the crest of a likely simultaneous completion and an inevitable oversupply situation, private industrial property, by contrast, are in short supply. The current imbalance of strong demand and waning supply of private factory
        732 words
      • 395 15  -  By TSANG SAU YIN ONE OF the areas in Singapore which is attracting a great deal of interest lately is Changi, traced to the hive of construction activities going on for the new international airport. Interest has spilled over to the residential and commercial property
        395 words
      • 150 15 SO WHO said property development companies are solely concerned with deriving the maximum monetary retain from every square foot of spare created? One property company here recently stepped forward to demonstrate that the creator of such Inanimate objects as tail buildings and taxations booses, can have a
        150 words
      • 550 15 THE WORLD real estate body can intervene directly in the affairs of any of its member country through the national chapter if requested. The message came from the newly-elected world president of the International Real Estate Federation (FIABCI), Mr Georges M. L. De Wandeleer, during
        550 words
    • 844 16 MOTORING with Vermes DO YOU see yourself as having a bit of dash, a bit of flair? Are you somebody who does not need to bother with the trappings of family transport but does not wish, on the other hand, to be limited
      844 words
    • 458 16  -  By RUTH CHENG A CAST of teeny-bopper idols, scenes of lovers in their "moments" and through it all run seven songs. You now have the typical Chinese love story spun by the movie-makers. Only, the movie "Rainbow in My Heart" is a shade worse; it does not
      458 words
    • 771 16 The Chinese Zodiac has always been a subject of intense interest among artists and astrologers. It is symbolised by twelve animals, the following article will deal with the first six. COLLECTING with COLIM CHEE THE TWELVE animals of the Chinese Zodiac were popular subject of
      771 words
    • 324 16 Lido (*****4): Feeling Love. A very touching love story. Morris Albert sings "Feelings". A song of love and a song to cry. (11, 1.45, 4, 6.45, 9.15). Odeon (*****6): Kelly's Heroes (re-run). A special squad which goes on a dangerous mission against the Nazis. Clint Eastwood, Telly Savalas,
      324 words
    • 78 16 ALL photographers are Invited to participate in a photographic competition-cum-exhibition entitled Onr Singapore Children, organised by the National Museum and Sin Chew Jit Poh to commemorate the International Year of the Child. Entries will be divided into two sections the Open Section and the Student's Section and must
      78 words
  • Page 13 Advertisements
    • 56 13 Kodak is... FILM CAMERAS PROCESSING PROJECTORS CHEMICALS PHOTOGRAPHIC PAPERS PHOTOGRAPHIC ACCESSORIES Kotfafc (Singapore) PH. limited 305 Alexandra Road Singapore 3 Te< *****1 Ong Kim Seng paints the Lost Horizon Page II Ruby's gem of an investment eeell A bit of dash, a bit of flair in a BMW 321 m
      56 words
    • 258 13 Kodak also is... MICROFILM GRAPHIC ARTS MOTION PICTURE FILM BUSINESS SYSTEM EQUIPMENT AUDIO VISUAL EQUIPMENT Kodak (l*OQ»pon) Wa. LMM 305 Alexandra Road Singapore 3 Te< *****1 Now! The Buku Merah offers you an ever more effective way of selling your products and services In the Buku Merah's pink pages, classifieds
      258 words
  • Page 13 Miscellaneous
    • 1177 13 WHAT WHERE RECITALS BERNARD Godeaux will give a piano recital at the DBS Auditorium tonight at Bpm. Godeaux graduated from the Juilliard School with a Master of Music in 1978 and has won several prizes in international competition. In the first half of the programme, he will be accompanied by
      1,177 words

  • Page 14 Advertisements
    • 252 14 PENGUINS SWord power: Edward de Bono 265 special words are covered here. This big new book from de Bono,author of Lateral Thinking, makes available for the general reader an invaluable store of the vital words which form part of the living vocabulary of every thinking man. Mindpower: An excursion into
      252 words

  • Page 15 Advertisements
    • 328 15 Mark your diary x it* and make sure you have no other appdintments for OCTOBER 11 12 On these two days Singapore will have its first ever conference on trading with China, the newest and arguably the most crucial and potentially lucrative factor in the equation that will condition the
      328 words
    • 79 15 ANTIQUES FINE CHINESE ANTIQUES WORKS Of ART KWOK GALLERY Pte. Ltd. 101-103, FUST FLOOR, FAR EAST SHOPPING CENTRE ORCHARD ROAD. TEL: *****16 THREE GENERATIONS OF PROVEN DEPENDABILITY SINCE ***** Property for Sale RIDGEWOOD The Most Talked About Condominium in Singapore To live at Ridgewood is to live in STYLE. The
      79 words

  • Page 16 Advertisements
    • 43 16 The indispensable guide to men and women at the helm of Malaysia, Singapore and Brunei. professional reference. m i 'H N>> i/i 'N J Si tv if sJHtr Jo 6 ?"S Robinson's Bookshop Clifford Centre Basement, 24 Raffles Place, Singapore 1. Tel: *****
      43 words