The Business Times, 29 December 1979

Total Pages: 16
1 16 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 141/1/79 SATURDAY, DECEMBER 29,1179 50 CENTS
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  • BRIEFLY...
    • 52 1 THREE thousand workers from the Keppel group of companies will receive increased wages from next month. The increases range from $30 to $50 a month for those at the lowest rung of the salary scales while the maximum salaries for Keppel Shipyard employees will be raised by $60
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    • 65 1 Reuter LONDON, Fri. Gold was fixed at a record U*****.00 an ounce on the important London bullion market today. The metal has been surging forward in price again in the last few days as world markets are hit by anxiety over international economic and political fears. Yesterday
      Reuter  -  65 words
    • 58 1 AFP HONGKONG, Fri. The stock market's main Hang Seng index jumped 12.5 points for a sixyear record high close of 852.1 today. Most of the action centred on second line issues with little interest in blue chip shares apart from Hongkong Bank which put on 30 cents
      AFP  -  58 words
    • 64 1 AP JAKARTA, Fri. Indonesia's export of plywood, electronic components and ready-made garments in the first nine months of 1979 totalled U*****.3 million, up from $38.6 million in the same period last year, the Director General of foreign trade said. Dr Suhadi Mangkusuwondo said he hoped these exports would
      AP  -  64 words
    • 73 1 AP TAIPEI, Fri. Taiwan's economy for 1979 will register a growth of 8.03 per cent at the 1976 constant prices, slightly down from the 8.5 per cent target, the government reported today. According to initial statistics, the per capita income at current prices for 1979 will hit
      AP  -  73 words
    • 43 1 UPI BEIJING, Fri. China said for the first time today, its population has reached one billion. Officials of the world's most populous country had earlier said the population was 960 million, including some 17 million outside the mainland on Taiwan. UPI
      UPI  -  43 words
    • 56 1 UPI BEIJING, Fri. China's 1979 foreign trade through Deo 22 registered a record U5528.64 billion, up 26.7 per cent over 1978, the Ministry of Foreign Trade said Thursday. It reported exports of $13.43 billion and imports of $15.21 billion, leaving a trade deficit of $1.79 billion. The announcement
      UPI  -  56 words
    • 68 1 AP NEW YORK, Fri. The stock market showed a slight loss this morning. The Dow Jones average of 30 industrials slipped 0.77 to 839.33 in the first half hour. Declines slightly outnumbered advances among New York Stock Exchange-listed issues. The price of gold, which has dominated the attention
      AP  -  68 words
  • 142 1 Rises Kamunting Tin 352 38 Goodwood Park 550 30 Sime Darby 354 16 C Sugars 472 14 F E Levingston 289 12 Cods Plant 223 11 Sungei Besi 1200 10 Guinness 605 10 Dutch Baby 190 10 Cold Storage 263 8 MBS 258 8 Msia Rice 175
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  • Article, Illustration
    156 1 Rises Guiness 606 +25 Kg Lanjut 370 20 S Darby 354 20 C Sugars 478 20 Consplant Wrts 540 20 Sg.Besi 1050 20 Consplant 225 13 Haw Par 189 11 Setron (M) 170 10 MBS 265 10 M Contain 265 10 M U Ind 426 10 Falls CC
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  • 682 1  -  NO NEARER TO SHOPPING MALL By LINDA TAN METRO HOLDINGS remains embroiled in uncertainty after announcement that the Government will acquire nearly half of its leasehold property at Orchard Square for urban development. The property, with total area of 116,000 sq m, is held by wholly-owned
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  • 195 1 SAN HOLDINGS, the highflying conglomerate of yesteryear which is now struggling to put its finances in order, has proposed a restructuring of its share capital. Under the scheme announced yesterday, directors have proposed consolidating every two stock units of 50 cents each into one of $1. This means
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  • 404 1  -  By CHOO AI LENG STRICT foreign exchange controls and import restrictions are stumping exports of computer hardware by Total Computer Systems (TCS) to the Philippines. Sources say that the Philippine government intends to prohibit any new computer suppliers into the country. However, the Philippines Embassy
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  • 200 1 THREE mould-making companies have been awarded a five-year tax holiday in line with the government's policy to encourage the development of the supporting industry sector. In the latest issue of Singapore Investment News, the Economic Development Board reported that developments in the mould-making industry show promise
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  • 270 1 INVESTORS aad speculators were back la feree yesterday ckaslag ap stock prices m tke Stock sf Stagapare. Tkaagk seattmcat flaisked on best, tke gaad all rasad galas taak tke Straits Times ladastrial skare ladex to a six-year kigk sf 414.12. Pram tke spread
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  • 486 1  -  By RAHIM KASSIM AN INCREASE in the prices of fuel in Singapore is being held back only by uncertainties over Kuwait's pricing policy following the recent failure by Opec to reach an accord at its meeting in Caracas. Kuwait is the second largest supplier
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  • Page 1 Advertisements
    • 4 1 FOR PEOPLE WHO MATTER
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    • 153 1 SO YOU STILL (MAKE 1 You wouldn't use a scouring agent to clean bone china, would you? It's the same with teeth. Yet ordinary toothpastes are too bland to remove tobacco film, and tea, coffee or other stubborn stains. The answer? New Clinomyn the toothpaste specially formulated for smokers who
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    • 68 1 LEISURE TIMES LOCAL c*mpMies tove a Ing WOBLD market fer Umi way to ge i receverlag t BIG ail dtecevery la the Gmif W ALLIED Cheeelate eeaMeat ef Teak1a...................................... S farther grawth 11 BURMA Uvea la a warld «f tto MALAYSIAN stock exekaage •wa 7 may eempatertoe 11 FLIGHTS ft,
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    • 175 1 fVS FAVOURITE >. Putters, Balls Bags Sole Agent Merdings Leisure Pte Ltd 23. Park House. Orchard Boulevard Sogapore 10 Tel *****55 *****18 Also avaiUbte ai an ieaomg sdoms stops ana o'O snops See back page IF YOU HAVE TO ASK THE PRICE, YOU CAN'T AFFORD IT. x. «E m •jt
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  • TRADE AND INDUSTRY
    • 402 2  -  By KOH TSE YING FOXBORO Far East, the local subsidiary of the Foxboro Company in America, will begin assembly of computers next year in Singapore, instead of importing completely assembled units. Foxboro will import only 35 per cent of its requirements which will constitute the
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    • 331 2 COURSES AND TALKS Jan 2-Apr 9: Business Finance, Joint Campus, University of Singapore Jan 2-Mar 12: Law Relating to Real Property, Nisen Hut 6A, University of Singapore Jan 3-Feb 25: Digital Electronics for Microcomputers, Nissen Hut 10A, University of Singapore Jan 3-Mar 13: Structure of Written English, Queenstown
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    • 188 2 THE TIMES Heritage CeUeetton aeries published by Federal Publications will be adding a list «f rev titles en Malay felk tales next menth. A special launch has been plaaaed fer Jan S4 at Times Orchard Centre at Laeky Plaza wbere the beeks will be pat
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    • 184 2 BRANIFF International Airways will re-route its service between Singapore and Los Angeles to include Guam as an additional stopover. The two flights leaving Singapore for Los Angeles will stopover in Guam but only one of the two return flights from Los Angeles will stopover there. The other
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    • Article, Illustration
      357 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Kota Banteng (0600 must sail not later than 0600/30 th) 3/4 Palm Sea Horse (Tanker) (0200 after Poly Sebalas) 14 Prima King (Bulk wheat/barley) (after Nancy Lykes sails) fc/9 Perak (1000 after King Lake) 22 Rio Borde (Ro/Ro) (1100 after Car Liner
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    • 522 2  -  By MARGARET THOMAS LOCAL companies have a long way to go before they can catch up with the multinationals, concludes an American report on the electronics industry. This is why the Government is pragmatically encouraging the continued expansion of multinational operations. In his report,
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    • 80 2 DINERS' Club credit cards will be accepted for payment of admission tickets to the Singapore Cultural Theatre's The Singapore Experience if the card company agrees to an arrangement put forward by the theatre. American Express Cards are now accepted by the theatre. Miss Valerie Sim, marketing and
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    • 346 2 MS Raphael 8 M htmmg joined Scott English Ltd and Scott A English Trading Pte Ltd in Singapore as director and general manager. He was previously a divisional manager with the Cycle k Carriage Group. Before that Mr Leong was with the Development Bank of Singapore Ltd
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  • Page 2 Advertisements
    • 241 2 n k Financial Institutions in Singapore YEARBOOK 79 For the fourth successive year, CONSULTON's Yearbook provides an in-depth analysis on the performance of the various sectors in Singapore's financial industry. The 280-page publication includes our annual rankings of the TOP TEN commercial banks, merchant banks and finance companies. There are,
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    • 148 2 Leader... Page 6 THE 2ND INTERNATIONAL WOODWORKING EXHIBITION. DATE: 12-16 JANUARY 1981. SINGAPORE. Wood '81 is the second specialist exhibition devoted exclusively to the development and expansion of the forestry, timber processing and woodworking industries of South East Asia. Wood '81 will highlight the latest range of equipment and services
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  • REGIONAL
    • 583 3 DESPITE a decline of more than Msls7 million in September, Peninsular Malaysia had a big trade surplus in the first nine months of the year, according to Statistics Department figures. While the September surplus declined to $253.2 million from $410.9 million in August, the total
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    • 524 3 CATHAY Organisation (Malaya), a large film distributor and cinema chain operator in Malaysia, has teamed up with a major bumiputra partner, Permodalan Nasional Berhad (PNB). It announced that 30.2 per cent of its issued capital of 17.49 million shares of $1 each has been sold to
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    • 131 3 AFP. THE JAPANESE government plans to send Foreign Minister Saburo Okita to Seoul in January for talks with his South Korean counterpart Park Tong Jin on future relations between the two countries, the Yomiuri Shimbun reported yesterday. The paper said the government believes that Mr
      AFP.  -  131 words
    • 153 3 AP. IMPRISONED Philippine Senator Benigno Aquino still has an offer to go into exile at Harvard law school in America but there is no sign he will get a chance to accept, Dr Jerome Cohen, the associate dean, said on Thursday. "I would be
      AP.  -  153 words
    • THE REGION IN BRIEF
      • 470 3 Agencies INDONESIA'S non-oil exports this year rose by 65.2 per cent over last year, according to a government spokesman. This year's exports totalled US$4.7 billion while last year it was $2.8 billion. The rise marked an improvement of the state's economy. Indonesia's main foreign exchange source is
        Agencies  -  470 words
    • 97 3 Australian doctor Jim Frost (ftteve) has developed a breathing monitor which could help reduce the number of cot deaths, a major cause of death among infants one to 12 months old. The monitor is used as a warning device for parents whose babies may be potential cot
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    • 434 3 AP. CHINA has confirmed a large oil discovery apparently in the contested waters of the Gulf of Tonkin. A Christmas day broadcast from Hainan island, which was made available in Hongkong on Thursday, reported that industrial oil and gas "in relatively large quantities
      AP.  -  434 words
    • 180 3 AFP. MALAYSIAN Foreign Minister Tengku Ahmad Rithauddeen will begin his four-day visit to Hanoi from Jan 9, it was authoritatively learned in Kuala Lumpur yesterday. The visit, though primarily to promote bilateral relations between Malaysia and Vietnam, is expected to pave the way
      AFP.  -  180 words
  • Page 3 Advertisements
    • 233 3 V S.y f> t < y i XV- v -1, v V; -4 V "i:;«r v J*" Hjf ?i' 7 •4 J '9* V > •> 4 N V*' >w« *r r 4ix. i |>f>#, L r V v.* 1' i-%? r v V. -r >' j/' -4 >■■ •W
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  • RAW MATERIALS
    • 326 4 Reuter PENINSULAR Malaysian crude palm oil production rose to 222,101 tonnes in September from 168,478 in August and 179,479 tonnes in September 1978, preliminary Statistic Department figures show. Output for the first nine months totalled 1.45 million tonnes from 1.12 million in the
      Reuter  -  326 words
    • 139 4 JAPANESE exports of electrolytic copper in fiscal 1979 are expected to exceed 80,000 tonnes, more than double last year's exports, owing to a sharp rise in shipments to the US, copper trading sources said in Tokyo. Shipments in October rose to about 9,000 tonnes and to about
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    • 308 4 THE Singapore rubber market yesterday closed quietly firmer with Jinuary One RSS buyers quoted at 298.00 cents per kilo, up 1.50 cents from the previous day's close, dealers said. The morning market rose 1.75 cents on higher London advices, covering interest and forwards enquiries, they said. Quiet conditions ruled
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    • 355 4 R A S. prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f o b. 296 50 297.50N 296 00 297.00N Int. 1 R.S.S. January 298.50 299 00 298 00 298.50 Int. 1 R.S.S. February 302 00
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    • 109 4 NOON SSR and SMR price* yesterday RAS Jaaaary Febri lary (Curren it Mth) (Forward Mth) Buyer* Sellers Buyer* Seller* SSR 20 (1-ton pallet) 269 50 271.50N 271.50 273 50N SSR SO <1 ton pallet) 266 50 268. SON 268.50 270.50N MRELB SMR CV (1 ton pallet) 313.50
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    • 31 4 Rubber: Dec 28 Singapore: January: 298.00 cents (up 1.50 cents) Malaysia: January: 297.75 cents (up 2.25 cents) Tin: M 52.138 (up $16) Official offering: ***** tonnes (up 7634 tonnes)
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    • 98 4 THE Straits tin price In Penang firmed another M$lS per picnl to $2,138 yesterday, $188 above the International Tin Agreement ceiling, deSte the easier condlns in London on Thursday night, dealers said. Although there were Increased deliveries of tin ore, the market firmed farther encouraged by the sterling's
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    • 291 4 All was quiet on the Singapore produce market yesterday as dealers adopted a wait-and-see attitude. Trading was minimal and confined to small lots of one or two commodities sold to ports in West Asia. Coconut oil continued to find fair demand but the commodity price held barely steady
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    • 192 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Cettee yam: China Blue Phoenix 20s 2.330 32s 2.806. 40s 3,065 (per bale of 400 lbs). Piece gee*: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 63 4 WHEAT futures in Chicago closed US 9-1/2 to 4-1/2 cents a bushel lower on Thursday. Traders said commercial selling put heavy pressure on prices. Exporters were said to be selling Chicago wheat and buying Kansas City. Additional pressure stemmed from a rumour that American longshoremen may refuse to load
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    • 78 4 C.I.F. North European ports, tn US dollars per ton unless otherwise stated LONDON: Thur* Previous Malaysian 5%ffa bulk per tonne 647 1 jsir Jan unch Feb unch 660s lr Sumatra 5% ffa bulk Dec unch 632'-! sir Jan 635s lr 837'»slr Feb 655sIr 660slr Mch 660sIr 662 j
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    • 316 4 SINGAPORE: Yesterday's closing prices in S$ per tRo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 100, 100 per cent second class 0.83, 100 per cent third class 0.80, 25 per cent new crop no stock, B-10 per cent 0.70. THAI BROKEN: A-super 0.63, Special 0.57.
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    • 62 4 SOYBEAN futures closed US 11'« to seven cents a bushel lower in Chicago on Thursday. Traders said commercial buying buoyed bean prices early in the day but prices broke early in the afternoon as CBT wheat prices slumped, traders said. Heavy selling by a commission house and local long
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    • 685 4 COFFEE: Robusta futures yesterday ended the opening call £21 to £8 per tonne down from Thursday after initial losses had ranged to £34 per tonne. Sales were 1420 lots but of this around 1085 lots were crossed trades. Near January initially lost £34 at a low of £1655
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  • ASIAN STOCKS
    • 491 4 TOKYO THE market closed sharply higher in fairly active trading yesterday, with active selective buying interest spread over a wide front, dealers said. There is no afternoon session yesterday, the last business day of the year. The market average rose 40.64 to 6,569.73 with volume
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    • 163 4 THE market closed mixed yesterday with minings, commercials and industrials posting gains while oils declined, dealers said. Turnover rose sharply to 17.77 million pesos from Thursday's 7.06 million. Atlas Con B, Benguet Con B, Philex B, First Phil Holdings and San Miguel B firmed while Basic Petroleum, Pogei and
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    • 264 4 BANGKOK Bank, Thai Farmers Bank, Rama Tower and Asia Fibre rose 5 per cent in active trading yesterday with most sectors closing firmer, dealers said. Yesterday's turnover: 473,201 shares. Valued: 69,305,431 baht. Book Club index: 128.82. plus 1.99. DEC 28 Bahls Asia Credit in 2 Asia f ibre 158
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    • 346 4 Source: SHK Sec THE market closed higher yesterday after absorbing heavy year-end selling in the morning. Overseas interest continued to be at a low ebb and local operators controlled the market throughout the day. Prices moved up quickly once sellers were exhausted and some of the hottest shares (for
      Source: SHK Sec  -  346 words
    • 339 4 STOCK prices closed higher yesterday, led by energy and gold issues in thin trading, dealers said. BHP, which announced a US$24O million construction and exploration programme for 1900, jumped 30 cents to AJ11.20, while Woodside Petroleum rose two cents to $2.22. Coal miner Thiess rose six cents to |7,
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    • 54 4 FINANCIAL TIMES INDUSTRIALS Thu irsday 414.7 Wednesday closed Week Ago 4215 DOW JONES AVERAGE INDUSTRIALS Thursday 840.10 Wednesday 838.14 Week ago 836.09 H.K.HANG SENG Friday Thursday 852.10 830.62 Week ago 794.78 SYDNEY INDUSTRIALS Friday 567 06 Thursday 561.59 Week arc V*0 V) ALL ORDINARIES Friday 740.00 Thursday 727
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  • Page 4 Advertisements
    • 151 4 CHEERS! In this festive season. Singapore Business looks at the iiquor trade to find out why distributors and importers are In High Spirits. Our Christmas package includes other attractive items like Department Stores: Shopping for New Ideas; Jewellery: A Gem of an Investment Idea: Diamonds: Dazzlers...; Michael Goemans: Exit Electronics,
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  • OVERSEAS
    • 485 5 THE US* chief UN delegate Donald McHenry yesterday canvassed Security Council members for sufficient support for international economic sanctions against Iran. But diplomatic sources said Mr McHenry has so far only received assurances of backing from the four other Western members of the 15
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    • 267 5 AP A PETROLEUM price of US$2 to $3 a gallon was among steps urged by a panel of international energy experts Thursday who warned that the US must promptly reduce oil consumption or face a darkened decade of the *****. Mr Charles Ebinger, director of the Energy
      AP  -  267 words
    • 835 5 ARRIVALS Service Local Operator Number Time From PAA PA005 0125 NYC/SFO /HKG MAS MH601 0700 KUL SIA/BA SQ/BA17 0710 LHR/BAH MAS MH682 0710 KCH SIA SQ101 0615 KUL MAS MH621 0840 PEN MAS MH607 0645 KUL MAS MH671 0945 PEN/KUL SIA SQ211 1000 HLP CAL CI814 1000
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    • 88 5 Israeli Defence Mlanler Eaer Weizman, right, is met by US Assistant Secretary «f State Harold Saunders, at the US State Department. Mr Weizman was seat ny the Israeli Cabinet to Washington to make an appeal to the U8 tof approve U553.45 billion in economic and military aid (or
      UPI photo  -  88 words
    • WORLD IN BRIEF
      • 411 5 Agencies THE US will in no circumstances support the Khmer Rouge leader Pol Pot "or any ot the people in his regime". a State Department spokesman said. The statement was in response to a call from Khmer Rouge leader Pich Cheang in Beikng inviting the US to
        Agencies  -  411 words
    • 355 5 AFP A MODERATE recession accompanied by a rapid increase in unemployment will hit the US in 1980 hampering the re-election chances of President Carter, many economic experts in the US have forecast. This will probably result in the introduction of inflationary measures despite the current
      AFP  -  355 words
  • Page 5 Advertisements
    • 99 5 < Y m i ■s y <4 m. °ic4 4 m V r Ml m > i s Send something different on telex. Send New Year wishes. Most companies send their seasons' greetings through the mail. You can do something different. Telex your greetings now. And rest assured it will
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  • 453 6 THERE is no reason to quarrel with Mr Arnold's conclusion that it is the multinationals which will have to, indeed, who are expected to, continue to take the lead in the electronics industry. It is a conclusion which, regrettably enough, could well be applied to virtually every
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  • 240 6 THE TRADE Department has said that the emphasis in selecting goods for overseas trade fairs will be on higher technology and sophistication. This is all very well, since the concept dovetail nicely into the new industrial policy of concentrating on such products. But some of
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  • 1403 6  -  By RITA REIF NYT AT AUCTIONS and in the international jewellery market in recent months, it's all been coloured stones record prices and high demand outshining the traditional diamond. In emeralds, rubies and sapphires, all the price rules were rewritten last month at sales in
    NYT  -  1,403 words
  • 301 6 TWO lady colleagues who went to see the Theatre of the Deaf the other day were so inspired by the ease with which deaf members of the audience sitting in the stalls were able to communicate with their friends in the balcony that they came back
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  • 267 6 Letter to the Editor Dear Sir We refer to your Leader's column on "When Valuation is Questionable" in the Dec 22 issue of the Business Times. We note with great dismay that such misleading conclusions about the valuation profession could be made. The article by Mr Lim Lan
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  • Page 6 Advertisements
    • 129 6 mfW J*purpose of written book is HHPP[|RHBnmanual to how one can ft offers a framework which is based on thinking (including lateral thinking, for which Edward de Bono is famous) and has an important place for humour and for a dear eyed selfimportance. Dr de Bono's ideas can be combined
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  • Page 6 Miscellaneous
    • 1378 6 LAFFS AND LOU IN LESS thaa 72 hwn, the tklip «f lfJf will recede late the part, either te he reeef4e< la blstery heeks er Wetted treat metaery. There have eertaialy heea exetttag ea teday. Bat perhaps yea night Hke te ge way back te the lays el aileat Alms.
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  • 1037 7  -  By DENIS GRAY AP WHICH COUNTRY in today's world enjoys a low inflation rate, freedom from energy headaches, as well as negligible pollution, traffic and crime? Where do the young still respect their elders and just about everyone heeds old customs and traditions? Before
    AP  -  1,037 words
  • 679 7  -  By MARY TOBIN UPI FOREIGN trade now accounts for 20 per cent of the United States' gross national product, more than twice the level of a decade ago, according to the US Commerce Department. While imports and exports accounted for onefifth of the GNP, the US balance
    UPI  -  679 words
  • 826 7  -  FORUM. with ARNOLD WEBER ECONOMIC pressures on the US industrial base in the east and middle west have caused tremors at the bargaining table and in union halls. Collective bargaining structures that facilitate uniform treatment of employees within an industry have been eroded by
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  • Page 7 Advertisements
    • 482 7 \r &A3l> > k w SHtCKLE Y mhtDt kt»tfuu Bl 111 i tMiumni 1 the momentous s«n of two major of 10 December 1941 and the sh«f* Air support was Japanese torpedo were sitting targe«£< have never attack. 840 men d.ed Tiger Tiger!: Alfred Bester Gulliver Foyle liar, lecher, ghoul,
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  • Page 7 Miscellaneous
    • 66 7 PifeOUTT V\MC ftGO M£ PiCC£P UP MIS ?GJ* HPOe PvS IF -TO STPSCT UJR ITirAG we put rr dcxjn WCS iTPvTeD, ?tC.K£.D \T UP PGP**l, \A&J&S&£> TOR ft (jOV*UC p\»c> I»4CN PUT \T DOu>4. BriStoW: France DickenS LOMPCT oN IS pnfc DONG? nouj vt's pocfeD rr L)P Pv&PoN p*slO VS
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 196 8 DEC 27 Fls ABN ***** 2.5 Ahold 77 40 -02 Akzo 2340 unch AMEV ***** 1.5 Am fax ***** -01 Amro Bank 88 10 409 Bervou Berk 48 00 96 50 3 15 BoU 86 SO 1.5 Borsumij ***** -15 Burhmann 57 00 -05 Byenkorf 00.20 0.2 Calve Delft
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      • 274 8 DEC 27 Frs CORBEILLE Alr-Llquide 490 -98 B S N Gervals Danone 892 -13 C S F < ThomsonCsf) 440 -3 Cle Francalse des Petroles 250 Compagnie Financier* Compagnie Gene rale 336 -14 Credit Foncler De France 464 -S Hachelte (Llbralrle) 188 -1 Machines Bull 66.10 -04 Mlcheltn (B)
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      • 95 8 DEC 27 Fr» FORWARD MARKET Ar#f 323 -1 Arbed 2115 10 Astur 510 6 Brase an 536 unch Bru-Lamb 1685 -6 Can par 900 8 Cock 330 5 De Be*rs 2*1 2 Ebes 2180 25 Electrobel <290 unch Gb-Inno-Bm 2415 •10 Q«v 948 4-4 Hobok 2720 20 Petro 5580
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      • 189 8 DEC 27 Francs Actions Suisse* 286 unch Alusulsse Br. 1135 •S Alusulsse Res 4M -1 Brown Boveri Br. IMS unch Cilia Qelgy Br 1245 >20 Clba Or 1C» PC 950 -S Cite Oelgy Reg Credit Suisse Br 174 2280 unch -10 Credit Suu* Reg 424 unch Elektrowatt Br 2000
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      • 219 8 DEC 27 Dm Aet-Telefunken 35*1 -01 Akso 21 JO 0.2 All* Lrbcn 885 00 +14 Alia Vera mae 4-t BASF 138 00 Bay H T Whan* 235 00 -1 Bay Vbank 271 ooe Ba vet12S 00 unch BBC 298 ooe -03 BMW 182-50 Caaaella 323 MB -J Chem Verw
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      • 105 8 DEC 27 Lire Anic 975 unch Assoc Gen ***** -SO 8 Central* Z 6240 -10 rial IS32 -8 f- insider 94 48 Gen Immob 8725 0.25 IF! Pri 2121 -27 iLaWmenU ***** -100 711 Italsider 252 ♦24 Magnet! M Pf 565 5 Mare III Err 355 50 48 Mediob
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    • 1289 8 NEW YORK STOCK prices closed mixed on Thursday after trading in a narrow range most of the day as they have done all week. However, volume picked up on year-end selling for tax purposes and portfolio adjustments. Most precious metals stocks continued their rise as silver
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    • 230 8 DEC 27 CS Hud Bay Mln 254 14 Imp Oil 434 unch Abltlbt Its -4 Inm 274 4 A Iran S3'* 4 Int Pro* Pipe 184 4 Algoma a int utf 134 4 Bank Mont M. 4 InU Nickel 274 4 Bank Nova Scotia *'"> -4 Kerr Add 16
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  • Page 8 Advertisements
    • 586 8 See Page 4 for Asian stocks See Pago 9 for Jo'burg prices to wine, dine and entertain Savour our Chef Rene's masterpieces of European Cuisine. The iciccr J— where good Itaste triumphs Cockpit ftotrl Call Josephine for reservations *****75 or *****11 x 107 n n* t 1 > M /II!
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    • 33 8 Y mi til rC m havf fun this Sunday. Take a break from the stresses of office. house and schoolwork. Relax at our poolside. Take a dip Xtx DO- m. M K.V tkS^L-*
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  • BANKING AND FINANCE
    • 219 9 AMERICAN Express Company has completed the US$l75 million purchase of 50 per cent of Warner Communications Inc's cable television subsidiary, Warner Cable Corp. The company's new name is Warner Amex Communications Inc. Warner Communications Inc and American Express Company have equal representation on the
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    • 85 9 NORENCHUKIN Bank has extended a US$4l million loan for the first time to a foreign bank, Banco do Brasil, the Japanese bank said. Norinchukin, financed by powerful farm cooperative organisations, divided its loan into two classes for repayable term: half of it is for 10-years with a
      85 words
    • 873 9  -  By RUTH CHENG THE Singapore-based Asian dollar market is doing well despite earlier skepticism about its independence from the London market, an international financial magazine reported in its latest survey of the Asia-Pacif-ic region. The Institutional Investor survey revealed that the economies in this
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    • 629 9 NYT THE AGENCY that regulates Federally-char-tered savings and loan associations, the US' principal mortgage lenders, will propose a major change in regulations designed both to strengthen the financial structure of the lenders and to protect home buyers from being locked in at high interest rates over 25
      NYT  -  629 words
    • 272 9 AP INTERNATIONAL Bastacas Maehlui has fc—Htai USDM milllea from the Saadl Arabian government. The e«Bpaay said the toads will he aoed far cmstraetiea of maa ifac taring faculties aid to flaaace equipment IBM rati to 111 easterners. The Ism came la the form
      AP  -  272 words
    • 77 9 Reuter THE average contracted interest rates for lendings by all Japanese banks rose 0.163 percentage points to 6.872 per cent per annum in November from 6.709 per cent in October when it rose 0.131 per cent points from September, Bank of Japan said. The bank earlier reported
      Reuter  -  77 words
    • 804 9 NYT A LONG-AWAITED recovery in the market for loans by international banking groups appears to be taking shape, according to senior bankers in London. Although there are some who worry about the longterm effects of Washington s freeze of Iranian bank deposits, it appears that
      NYT  -  804 words
    • 423 9 LOANS and advances by Malayan Banking to the agricultural sector shot beyond the $100 million mark for the first time last month. As at the end of November, the figure at $100,033 million was almost 13 per cent up from that reported in June
      423 words
    • 95 9 AP. THE US Treasury Department said that its order freezing Iran's assets under US jurisdiction also prevents US banks from granting any loans or otherwise extending credit to Iran. In what it described as an "interpretive regulation," the Treasury Department said in a statement that
      AP.  -  95 words
  • MONEY AND EXCHANGE$
    • 475 9 FOREIGN exchange markets were quiet yesterday with year-end round the corner. But the domestic interbank market saw some hectic trading with interest rates firming at high levels. Overnight money opened at the 11 to 13 per cent level and was traded in bulk at around 12. The market
      475 words
    • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 9.3 per cent.
      22 words
    • 140 9 Asian rates ASIAN currency deposit interbank rates as at close on Dec 28: 7 days 1 month 2 months 3 months 6 months 9 months 12 months US DolUra(Spot) Offer Bid 14 'j 14H 14 13/16 14 11/16 14"* 14*. 151/16 1415/16 14"» 14'. 1311/*****/16 13U 13'. 1 month 3
      140 words
    • 49 9 RANGE of prices offered by discount houses on Dec 28: Overnight: 4 to ft*. Call deposits. 6', Cloiiag Buying Sclliaf 3-month Treasury bills 6' j 6 3 3 month Bank bills 10 10 3 months CD 10'< 10'« 6 months CD 9'* 9 J Source: National Discount Co
      49 words
    • 52 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued on Dec 31, Jan 2 and Jan 3. Offered: $50,000,000 Applied f*r: $79,120,000 Allotted: $50,000,000 Accepted kids: $96.35 approximately 47 per cent; higher bids in full. Average rate at dteeeut m allotment: 6.570 per cent
      52 words
    • 261 9 THE US dollar was narrowly mixed at the opening compared yesterday with overnight levels in the Far East and Thursday's closing, dealers said. Trading was thin and the dollar remained at levels near its pre-Volcker package lows against most currencies. Gold's rise above US$5OO an ounce, fears of further
      261 words
    • 321 9 GOLD futures on the Singapore market closed generally firmer yesterday compared with overnight levels in moderate late trading, dealers said. Opening quotations were marked up between US$3.5O and $4.50 per ounce following the metal's strength in New York last night and thereafter the market rose further on some buying
      321 words
    • 90 9 THE US dollar for overnight delivery yesterday closed slightly easier at 239.50 yen, compared with 239.70 both at the opening and Thursday's close, dealers said. Trading was moderate with volume of US$6lO million. The dollar eased to 239.40 yen at one stage in light late trading on selling by
      90 words
    • 282 9 DEC 27 Rand INDUSTRIALS A Alpha 250 unch Abercom 283 1 AE And CI 825 unch AMIC 1900 unch Barlows Cg Sugar CNA ion 3506 Currie Finance 12g unch De Beers Ind I950B 25 Edcon ««0 Edgars ***** SO Eveready Fed Vol* Z" 400 unch Fugit 100 S
      282 words
    • 87 9 THE US dollar was again barely changed against major currencies in a very thin market yesterday, with little business transacted, dealers said. It eased slightly against the yen to a late 239.30/60 from the opening 239.50/70 and New York's close of 239.60/80, but recovered against sterling to 2.2340/70 from
      87 words
    • 54 9 AUSTRALIA/NZ exchange quotes yesterday: US dlr 1.1099 1.1051 Sterling 0.4964/0.4903 Ninety-day airmail buying rates: Sterling 0.5212 US dlrs 1.1631 Ninety-day forward buying rates: Sterling 0.5048 US dlrs 1.1238 New Zealand reserve bank midrate: US dlrs 0.9862 Trading bank indications: Sterling 0.4110/0.4380 Us dlrs 0.9912/0.9812 Ninety-day airmail buying rates: Sterling
      54 words
  • Page 9 Advertisements
    • 134 9 YOUR LIFESTYLE THERE IS a silent killer workers, technicians, on the loose. Its victims office workers, manrun into the millions. CTDEOO agers. professionals No one is safe. OI HiLOv and even housewives. Its main targets are the working Its name is Stress. Psychological people, including unskilled and biological stress. In
      134 words

  • 1696 10 BID and offer prices officially listed and business in and reported to the Stock Exchange Of Singapore yesterday with the number of shares traded shown in brackets in lots of LOOO units unless otherwise verified SECTION ONE > 4 INDUSTRIAL 4 COMMERCIAL
    1,696 words
  • 159 10 S'pore Growth Fund 1.19 1.25 SINGAPORE UNIT TRUST INCOME BOND UNIT (Nim|hi' price* i tar Dee >1) (Curat pr IMS) The Commerce 2.23 2.37 Income Bond 1.17 1.24 The Saving Fund 1.44 1.53 S pore Prog Fund 0.99 1.04 S pore Sec. Fund S pore Invest Fund 1.77
    159 words
  • 2747 10 Gr's Gr'a Net 1979 Last Div Div Yld P/E Vol Day High Low Company Sale or- C'vr COOO) Hi«k Law SECTION ONE INDUSTRIAL COMMERCIAL 281 207 Acma 249 3 15.0 2.2 6.0 12.7 24 249 247 196 123* Alcom 196 10.0 1.3 5.1 26.1 148 110 Allied
    2,747 words
  • 1595 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. INDUSTRIALS Alienate (3.COS) Alearn (1.85B) AJex HaM (1.288) A Choc (1.28B) (2)
    1,595 words
  • 158 10 GENTING Bhd said the name of its wholly-owned subsidiary, Genting Nissei Malaysia Sdn, has been changed to Genting Golf Course Sdn. Treagaui Development and Muignmt said negotiaions are now being held with Loy Brothers (1973) Sdn representing Lee Hung Plantations for the return of Chenderong Estates to the
    158 words
  • 767 10 AS IF to mark the retain al Slme Dtrky, toe Siagapere stock market yesterday came alive wito tradtog activity that pat seme shares well ahead ef ethers. The geaeral tone ef the market was steady to firm. The Improved seatimeat aim catocMed with
    767 words
  • 507 10 A FAERLy steady trend was maintained on the Kuala Lumpur stock market yesterday, the last trading day for 1979, and prices closed broadly higher. Trading was active, with the relisting of Sime Darby and its subsidiary, Consolidated Plantations adding volume to the total turnover. Sime,
    507 words

  • COMPANY NEWS
    • 308 11 UNITED Engineers (Malaysia) is proposing a seven-for-four rights issue and a special issue of 8.75 million new shares of $1 each to bumiputra institutions. However, the proposal is subject to the Malaysian Foreign Investments Committee and Capital Investments Committee approval and the company
      308 words
    • 459 11 WHILE anticipating that profit margins will be affected to some degree by higher fuel costs and the recommendations of the National Wages Council of Singapore, Allied Chocolate Industries (ACI) chairman Chuang Ming Chi is confident the group will continue to progress in 1980. He says
      459 words
    • 470 11 INDIA-MALAYSIA Textiles Berhad (IMT) has trimmed its losses to $516,330 for the year ended March 31, 1979, but its financial state remains depressed. The losses, though smaller than the previous year's $1.7 million, will nevertheless increase the accumulated deficit to $10.25 million (against a share
      470 words
    • 566 11 Current Ex Books Date Total for Total for Payment Date Close Payable the year Previous year Premium Hldgs 6% I Dec 12 Dec 24 Dec 29 6% 12% Inchcape 4% I Dec 10 Dec 17 Dec 31 4% 3% Metal Box Bhd 7% I Dec 5 Dec 15
      566 words
    • 106 11 Company Particulars Ex Date Books Close M I Ind SEA Corp Temerloh Shangri-La Sentosa M Breweries Lingui Bonus Issue of 4 for 5 Bonus Issue of lfor 1 Bonus Issue of l for I Bonus Issue of l for 5 Bonus Issue of 1 for 3 Bonus Issue
      106 words
    • 79 11 CHEMICAL Industries (FE) Ltd has reported group pretax profit for the six months ended September 1979 of $1.36 million compared with (883.018 in the previous period on a group turnover of $4.78 million ($4.19 million previously). At the company level, profit stood at $1.15 million ($987,586)
      79 words
    • 167 11 THE Pahang state agency, Syarikat Permodalan dan Perusahaan Pahang (SPPPB) has entered into a joint venture with Conzinc Riotinto Malaysia Sdn Bhd to mine for tin on 1,300 hectares of land in Sungai Pandan, about 16 km from Kuan tan. Under a joint-venture agreement signed
      167 words
    • 88 11 HARRISONS and Crosfield (HandC) has exchanged contracts for the acquisition from Cartwright and Co (Importers) of the whole of the issued share capitals of subsidiaries Cartwright and Co (Boards), Cartwright and Co (Building Supplies), Cartwright and Co (Fencing) and Cartwright and Co (Timber). Completion of the
      88 words
    • 918 11 THE Kuala Lumpur Stock Exchange (KLSE) may, at long last, be setting up a computerised clearing system to facilitate share trading operations in Malaysia. Chairman Tengku Noone Aziz bin Tengku Mahamood, in his annual report to KLSE members for the year ended June 30, 1979,
      918 words
    • 566 11 w ssqscl.. by HOCK LOCK SIEW INVESTORS who have remained basically bullish about our stock market have been proven right again. The trading floor of the Stock Exchange is bubbling with activity once again with prices now generally higher than the levels seen earlier in the year. Yesterday
      by HOCK LOCK SIEW  -  566 words
    • 213 11 Date Last Pall Year Company Pertad AiMueed Net EPS Grass Pre-tax last year (cents) Div. <%) Profit <nw) SEA Corp F 28/11 93.2 45.0 3,583 BATS I 1/12 5.1 17.0 3,983 Kg Lanjut I 5/12 12.9 14.3 851 Berjuntai Tin I 22/12 56.2 95.0 42,868 M'wata Steel I
      213 words
  • Page 11 Advertisements
    • 135 11 MARKETING EXECUTIVE We are a leading international bank based in Singapore. We are currently looking for an experienced marketing executive to assist us in the development of our consumer business in Singapore and Malaysia. The main responsibilities of the position will be micro and macro marketing analysis, product development and
      135 words

  • 348 12 Agencies BOTH Malaysia and Indonesia have announced increases in their oil prices. Indonesia decided yesterday to raise its export oil prices from an average of U5)25.45 per barrel to $30.75 per barrel. Prices announced on Dec 17 ranged from $24 to $27.90 per barrel. The
    Agencies  -  348 words
  • 219 12 Reuter CHINA and Singapore will sign a trade agreement today providing a broad framework for increased trade and economic cooperation, sources close to a Singapore delegation in Beijing said Thursday. The delegation is headed by Finance Minister Hon Sui Sen, who arrived in Beijing on
    Reuter  -  219 words
  • 810 12 LONDON, Fri. Share prices closed firmer in quiet trading on operators hopes that the threatened national steel strike will be called off, dealers said. At 3 pm, the FT index was up 1.6 at 416.3. Lucas gained 5p to 233p on light buying in a thin market while
    810 words
  • Article, Illustration
    41 12 Vietnamese refugees in Manila's suburban refugee camp paint a Happy New Year sign for their holiday programme on Thursday. Hie programme had singing and dancing performed by refugees and social workers in the camp. AP photo AP photo
    AP photo  -  41 words
  • 301 12 Reuter. CHINA has made an informal proposal to Indonesia to send a goodwill delegation to Jakarta sometime in 1960 for talks which would include the possibility of resuming full diplomatic ties, diplomatic sources said yesterday. Diplomatic relations between Jakarta and Beijing were suspended after
    Reuter.  -  301 words
  • 313 12 UPI A SOVIET assessment of the 1970 said the Soviet Union's greatest achievement of the decade was the avoidance of world war, but it predicted continued "competition" with imperialism in the *****. Mr Vadim Zagladin, First Deputy Chief of the International Department of the Communist
    UPI  -  313 words
  • 561 12 SOVIET troops took part In heavy fighting that accompanied a coup in which Afghanistan's President Hafizullah Amin was toppled and quickly executed, informed diplomatic sources said yesterday. Quoting reports from the Afghan capital of Kabul, the diplomats said Russians were seen manning tanks and
    561 words
  • 143 12 AP CHINA will float shares to attract foreign capital for developing Fajfoa Province In ssntheast China, China's <—Wb news agency reported. The report Mid Anns of the Fajtaa Investment Corporatton will he floated In 1989 to help boost the province's foreign trade. The
    AP  -  143 words
  • 75 12 Reuter THE Sri Laaka geverameat yesterday lifted a flvemeath emergtaey la tie Ttall-ipetklag Jaffaa pnalasala, saytog ptaee M retmri to tkat am whieh was tare a MM ti separatist gaerilto activities. The —pw» was laapseed tort Jaly toltowtog a wave sI gaenilla attacks there by the
    Reuter  -  75 words
  • 365 12 AFP AP. THE SOVIET Union will be the main source of trouble in Asia in the next decade, which should encourage the United States to strengthen its links with China, a report by the Rand Corporation "think tank" said. The study, done for
    AFP; AP.  -  365 words
  • 446 12 AFP GARMENTS and textiles are expected to dominate Hongkong's export scene in 1960 as they have done in past years. This prediction was made by the government's Industry Commissioner Lawrence Mills in an assessment of 1960 prospects. He said this year the clothing industry had not
    AFP  -  446 words
  • 152 12 THE budget for next year's power development schemes is expected to be markedly lower than this year's. As the second phase of the Senoko Power Station nears completion, less funds will be allocated for facilities there. Instead, transmission and distribution projects will
    152 words
  • Page 12 Advertisements
    • 160 12 Wendy Hutton's fliTiTi ....more than just a cookbook! Here, for the frst time, is a local cookbook that gives you more than just recipes. More, too, than lots of fascinating and relevant information about Singaporean mgredtents and cooking methods. Singapore Food is unique because n puts Singapore's famed cuisine into
      160 words
  • Page 12 Miscellaneous
    • 59 12 Outlook for Singapore from 6 a.m. to 1 p.m. today: Generally fair. Report tor 24 hours prior to U p.m. on Dec 28 at the airport. Maximum temperature 30.8 Associated humidity 66 Minimum temperature 22.9 Associated humidity 94 Hours of sunshine 3.90 Rainfall in millimetres Nil Total rainfall for the
      59 words

  • LEISURE TIMES
    • 1502 13  -  Goodbye 1979 Hello 1980 CHEER UP, IT IS NEW YEAR'S EVE ELLA MANDES ARCHIBALD was not a happy man. All around him people were laughing and having fun, but Archibald sat hunched over the table, morosely turning his glass round and round on the table. The
      1,502 words
    • 494 13  -  By PETER WONG THEY are like live wires on stage sizzling with superb movements and power pact vocals. The four-plus-two is a dynamic and exciting group to watch with a style and self-assurance of their own that success to the rest of the world seems inevitable. Formerly
      494 words
    • Article, Illustration
      1140 14 MOTORING with Hermes I HAVE often held that Big Sweep ticket in my hand, closed my eyes and asked myself this question: "If I had the first prize, what am I going to get for myself?" Well I have found out and especially after this year of many
      with Hermes  -  1,140 words
    • PROPERTY
      • 885 15  -  The Youngbeig Memorial Hospital's $6 million expansion project is awaiting Government approval. RUTH CHENG provides more details on the hospital's plan to build three new wings and to renovate its existing facilities. RUTH CHENG A PRIVATE hospital in Singapore will spend $6 million on an
        885 words
      • 525 15  -  By TEO TECK WENG A GLEAMING new office tower will emerge from a small land plot along busy Cecil Street that will create another 15,800 square metres of prime office accommodation in the city centre. The proposed 25-storey building, still unnamed, is now under construction.
        525 words
    • 492 16  -  RUTH CHENG SMALL metallic meteorites manufactured into high-grade jewellery were displayed for the first time at Jeweltime *79. Schlegel and Plana, Swiss makers of jewellery and dress watches, exhibited their 'extra-terrestrial jewellery' in Singapore at Jeweltime as the first stage in a campaign to show the world the meteorites
      Photos: Francis Ong and Anthony Wye  -  492 words
    • 378 16  -  JUDGES: Jacques Drensard, vice president of women's reedy-to-weer industry in France, Jean Claude de Luca, Parisian couturier, Miss Ute Meyer, coetume designer from Munich, French designer Serge Roeenberg, a ready-to-wear designer from Hongkong, end Mrs Betty L Khoo, editor of Her World. SPONSORS: Her
      378 words
    • 587 16  - A French wardrobe yes please LINDA TAN TEN YEARS from now, don't be surprised if three-quarters of your wardrobe consists of imported French clothes, because French ready-to-wear entrepreneurs aim to make you do just that! And with a special collection, too, just to suit the 'delicate' Asian taste in fashion
      587 words
  • Page 13 Advertisements
    • 36 13 I got it._ with the Kodak Cokriwrst 300 instant camera Youngberg Hospital plans $6 million —itii«iiißn»«»iiiiiiiiimn 111 Extraterrestrial jewellery that's worth $11 million IV Vary soon you can hava a wardroba off French imported clothes IV
      36 words
    • 361 13 Need extra prints from your instant pictures? Ask your dealer about Kodak Color a /ajO Copy prints. 95* only. is A why not be a kn p dlv, r Top men earn top money when qualified Full training for UCTA Diploma Exam. The man in the car could be You
      361 words
  • Page 13 Miscellaneous
    • 919 13 WHAT WHERE FILM SHOWS THE National Museum will screen two colour films today at 10.45 am. Opening of National Stadlnm and Starting to Dive are by courtesy of the Singapore Sports Council. Free admission. THE Museum has more in store for football fans. Its special holiday films for students on
      919 words

  • Page 14 Advertisements
    • 322 14 SUBSCRIBE TO SINGAPORE BUSINESS Todayl^^^^H Singapore Business, of course, is a magazine you know. It's a must reading for politicians and a mine of information for business and professional people. Students too find Singapore Business an invaluable wealth of information. In fact, anyone who has any interest in what's going
      322 words

  • Page 15 Advertisements
    • 29 15 ANTIQUES FINE CHINESE ANTIQUES WORKS OF ART KWOK GALLERY Pte. Ltd. 101-103. F»ST FLOOR, FAR EAST SHOPPING CENTRE ORCHARO ROAD TEL: *****16 THREE GENERATIONS OF PROVEN DEPENDABILITY SINCE 1918
      29 words
    • 263 15 s i k>rt Co As* an Vsian •Jij*h Tea •rtvouritev 4 •>< ■fi mrV f* fl i* 1 I ry p >v 1 rjc t-v\ v &1 *r 1M i I TWO GREAT COOKBOOKS Complete Asien Meals From over twenty years of teaching her art (to Japanese, Europeans, Americans, British,
      263 words

  • Page 16 Advertisements
    • 213 16 From THE STRAITS TIMES ANNUAL 1980 Stilt-walkers alive and kicking Lantern show for the tourists Lessons (or life at the army boys' school A living fantasy Singapore's coral reefs PSA's part in our land reclamation On wings of song The SSO with a graceful pentatonic lilt Saved from the dustbin
      213 words