The Business Times, 3 May 1980

Total Pages: 16
1 16 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 111/1/81 SATURDAY, MAY 3,118« 50 CENTS
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  • BRIEFLY...
    • 80 1 Reuter LONDON, Fri. Officials from the nine EEC member countries will meet in Brussels next week to discuss national legislation required to implement full economic sanctions against Iran, if no decisive progress has been made to secure the release of the US hostages by May 17, sources
      Reuter  -  80 words
    • 90 1 AP WASHINGTON, Fri. The United States' unemployment rate shot up from 6.2 per cent to 7 per cent in April, the highest level in 2xh years and a powerful sign that the economy is being squeezed by the vice of recession. It was the largest one-month increase in
      AP  -  90 words
    • 81 1 AFP KUALA LUMPUR, Fri. The Vietnamese Foreign Minister Nguyen Co Thach will make an official visit to Malaysia from May 8 to 12. During the five-day visit, Mr Thaoh will have talks with the Malaysian Prime Minister, Datuk Hussein Onn, and the Foreign Minister, Tengku Ahmad
      AFP  -  81 words
    • 77 1 AFP UN, New York, Fri. The UN Economic and Social Council has called on Secretary-General Kurt Waldheim to convene a second international conference on humanitarian aid to the Kampuchean people later this month in Geneva. The call for a conference at ministerial level came in a resolution
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    • 67 1 Reuter MANILA, Fri. The United States was today elected chairman of the board of governors of the Asian Development Bank (ADB) the outgoing chairman, Philippines Finance Minister Cesar Virata announced. The United States, represented by Treasury Secretary William Miller, will occupy the chair until the end of
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    • 35 1 Reuter BEIJING, Fri. Pakistan President Zia Ul-Haq was greeted by Chinese Premier Hua Guofeng and Vice-Premier Geng Biao on his arrival at Beijing airport today for a one-week visit to China. Renter
      Reuter  -  35 words
    • 61 1 AP NEW YORK, Fri. Stock prices lost ground as the market absorbed the news of a sharp jump in the US unemployment rate. The Dow Jones average of 30 industrials dropped 1.79 to 807.00 in the first half hour. Losers outnumbered gainers by a 3 to 2 margin
      AP  -  61 words
  • 142 1 Rises Spore Glass 273 18 K L Industries 310 16 C A C 328 14 Eu Yin Sang 133 13 Strait* Trading 1 1100 10 Metro Hldgs 320 10 Boustead 462 8 Perak Carbide 82 7W Kuala Sidim 356 6 G Lumber 122 6 C C M
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  • Article, Illustration
    156 1 Rises C AC 336 20 U Cables 450 20 D. K era mat 1440 20 HGilf 496 14 Car Is berg 550 10 Rahman Hy 710 10 A Hitam Tin 1400 10 E A I 264 09 P. Carbide 93 Vt 07'/r Falls S pore Land 396 -12
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  • 725 1  -  MORTGAGE REDUCING SCHEME By CHOO AI LENG THE 49,000 Singapore flatowners who use their Central Provident Fund (CPF) money to meet their HDB, HUDC, or JTC monthly house loan instalments will soon be able to put their CPF money into a mortgage reducing insurance scheme. This
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  • 235 1 GOLD yesterday recovered by about US$3O per ounce after having dipped to $480 in early New York trading the day before, v Dealers said gold plunged by about $25 on Thursday in line with the sharp fall in silver prices. Fears of huge liquidations by
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  • 345 1  -  By RUTH CHENG UNCERTAINTY surrounds the future of the proposed automated cheque clearing house (ACH) in Singapore as bankers and the Monetary Authority of Singapore are both conducting separate studies on the implementation of the system. Sources said the MAS appears interested again in
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  • 335 1 MR AVERAGE Singaporean will now have a newspaper he can understand. This claim was made of the latest English language newspaper, The Singaporean, by Mr Devan Nair, president of the National Trades Union Congress. "Must only the readers of the Business Times have a clue about the
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  • 275 1 TRADE financing is rapidly growing la Importance for banks la Singapore. Of the $4(2 million monthly expo—ton In overall loans and advances In March, a boot 16 per cent was doe to hills financing, the Monetary Authority of Singapore saM la
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  • 484 1  -  By JOHN LIM THE Singapore Manufacturers' Association will be making certain changes to its constitution to allow, among other things, a wider scope of activities to include trading. This was disclosed by the association's chairman, Mr Michael Yeo in SMA's latest annual report.
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  • Page 1 Advertisements
    • 49 1 Raki Corporation For all types of w Culinary (Oriental Rakl Corporation Tel: *****4 *****4 9'OUnd, whole. Telei: rs ***** A B R akicor rubbed, herbs, CcMc: "RAKICORP" seeds.roots, spices Facto.* «nd pulses. Marsiling Industrial Estate M Malaysia Tel: ***** Manufacturer. aMe: "RAKICORP" Johore Bahru miller and stockists. See pages
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    • 273 1 Why the CGR Growth Plan Keeps Working Investment Success Means Deep Research and Firm Management In depth study supplied with every Capital Oalns Research recommendation, Is an important part of the secret of continuing growth-investment success. Because of observance of such signals. CAPITAL GAINS INVESTMENT CORP. N.V. (which we manage)
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    • 69 1 Leader...Page I e Leader Page 6 EMDS LEISURE TIMES ADVISORY aid Iran the S'pm Manufacturers' Association 2 CHINA suffers inflation rate of 5ipe......................................... 3 FROM bread-basket to bread and batter................................. 7 HIGHER costs lower profit at C K Tang 11 ANOTHER roand of Opec Increases coming? 12 US delays affecting
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    • 8 1 TheMMOUAEP3K) PPC does it all. FREEZOMINT m r
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  • TRADE AND INDUSTRY
    • 440 2 SEMINARS AND COURSES May 5-6: Marketing Strategy Profitability, Shangri-La Hotel, Price Waterhouse May 5-6: Management Information System, Hilton Hotel, Consulasia May 5-10: AAMO Leader's Course, SIM, RELC May 6, 8, 13, 15, 20, 27, 29: Microprocessors (Basic) Module, NPB, RELC May 7: Zero Based Budgeting, Hilton Hotel, Consulasia
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    • 384 2 THE Singapore Manufacturers Association last year saw the formation of two sub-committees to look into specific problem areas faced by members as a result of the economic restructuring announced by the Government. This and other developments were revealed in the annual report of the association
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    • 163 2 CHUBB Singapore will open its first "security mini supermarket" on Monday at the Shaw Centre. The Chubb Centre will stock security and safety products such as smoke detectors, intrusion detectors and alarms, multi-pur-pose extinguishers, wall safes, close-circuit television (CCTV) and intercom systems. It will also provide
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    • 107 2 A TWO-day seminar on advertising campaign planning will be held in Kuala Lumpur from May 7 to 8, and in Singapore from May 14 to 15. The workshop, organised by Consulasia, will cover topics like research before and after campaigns, good client briefing, budgeting and control, creativity,
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    • 410 2 GLOBAL International, the local subsidiary of the American freight forwarding and house moving company, will be investing some $1.5 million in a prefabricated building to handle its growing business in the region. The Singapore subsidiary is now the headquarters of the South-east Asian region,
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    • 257 2 SINGAPORE'S entrepreneurs have been urged to actively look into the production of high quality leather products for the world market. This call was made by Mr Ong Leng Chuan, honorary chairman of the Singapore Manufacturers' Association, when he opened the International Leather Fair at the
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    • 84 2 DU PONT Australia's service engineer for photo products equipment, Mr James Eichler (centre) is visiting South-east Asia and Hongkong to conduct staff and customer training programmes on film processing equipment and the Du Pont daylight system. While in Singapore, Mr Eichler will visit Mount Elizabeth Hospital
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  • Page 2 Advertisements
    • 434 2 Businessmen, Are You Getting Your Share of the Billion Oil Industry? The South East Asia Oil Directory 1980-81 (Third edition) is the only- professional reference work which brings together an encyclopedic volume of material to serve all sectors of tfje oil industry. It is the most comprehensive and in-depth coverage
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  • REGIONAL
    • 522 3 AFP PRESIDENT Suharto's grip oil Indonesia with its population of 145 million yesterday appeared firm with his rejection of their demand that he should abandon his plan to increase domestic oil prices. Ignoring the people's opposition through Parliament, public statements and newspapers, the government on
      AFP  -  522 words
    • 180 3 AP DIRECTOR General for Tourism in Indonesia, Mr Achmad Tirtosudiro has invited foreign investors to build hotels at Nusa Dua, Bali, where, he said, land is available for hotels with a total capacity of 2,500 rooms. The invitation was made by Mr Achmad
      AP  -  180 words
    • Article, Illustration
      458 3 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Mas (1300) 19 Cherry Jaya (0700) 26 Dona Selina (Tanker) (after Kota Singa hauls) 13/14 Gudrun Bakke (1430 after Leo Schroeder) 6/7 Guang Ping (1830 shifts after Langka Sagarika Eastern Power sail) 33/34 Hoegh Pride (1100 after Bunga Orkid) 31/32 Hyup
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    • 768 3 NYT CHINA conceded on Thursday that it had an inflation rate of at least 5.8 per cent last year, the first time it has made public an overall figure for price rises. In past years, the communists contended that only capitalist
      NYT  -  768 words
    • 293 3 THE People's Daily yesterday welcomed the arrival of Pakistan President Zia UlHaq with an editorial accusing the Soviet Union of naked aggression against Afghanistan. President Zia is paying his second official visit to China since he seized power in mid--1977. The New China
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    • 315 3 Reuter THOUSANDS of Korean students protesting against compulsory military service clashed with riot police in the streets of university towns across the country on Thursday, police said yesterday. In the town of Taejon, 3,000 students from Chungnam University clashed with 300 riot police
      Reuter  -  315 words
    • 355 3 AFP THAILAND plans to sell a huge shipment of maize to the Soviet Union a blow to the partial United States embargo on grain sales to Moscow a Thai newspaper reported yesterday. The Nation Review, an English-language daily, said the planned sale of 200,000
      AFP  -  355 words
    • THE REGION IN BRIEF
      • 485 3 Agencies MALA Y SLA will more than double its 7,000-man navy to 15,000 men by 1963 and will purchase an undisclosed number of warships from West Germany and elsewhere, Chief of Naval Staff Rear Admiral Mohamed Zain said. He said that as part of the expansion
        Agencies  -  485 words
  • Page 3 Advertisements
    • 266 3 1980 EDITION The Straits Times 0 W of Singapore The Straits Times Directory of Singapore (also known as Buku Merah) has been developed over a period of 82 years. It provides the most comprehensive information on companies' profile including their management personnel, agencies and representations. The acknowledged value and increasing
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  • RAW MATERIALS
    • 286 4 THE SHORTENED trading week saw a continuation of the easier trend as current month One RSS fell some nine cents on balance to hold just above the $3.00 mark, says IMlday, Cutler, Bath ft Company in its review of the Malaysian and Singapore rubber markets for the week
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    • 329 4 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.06, 100 per cent second class 0.90, 100 per cent third class 0.88, 25 per cent new crop 0.80, B-10 per cent 0.68. THAI BROKEN: A-«uper 0.63, Special no stock.
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    • 88 4 THE MARKET in Kuala Lumpur yesterday weakened further on lack of both local buying support and overseas demand, dealers said. Higher palm oil duty announced yesterday depressed sentiment. Indian purchases of 16,500 tonnes each of refined bleached deodorised olein tailed to check the fall. In the north, May
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    • 394 4 Reuter NEGOTIATIONS on a new international agreement to regulate world tin markets are moving slowly and delegates have not yet come to grips with the key issue of export controls, delegate sources said on Thursday in Geneva. Producer and consumer states were still sounding
      Reuter  -  394 words
    • 354 4 THE SINGAPORE market closed lower yesterday with May One RSS buyers quoted at 297.00 cents per kilo, down 5.50 cents from Wednesday's close, dealers said. Morning prices were marked down slightly on stale bull selling after an easier opening, they said. Afternoon prices fell further on some long liquidation
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    • 322 4 R.A.S. prices In cents per kUo yesterday (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 295.00 296.00N Int. 1 R.S.S. May 299.00 300.00 Int. 1 R.S.S. June 306.50 307.50 Int. 2 R.S.S. 288.00 289.00N UK/Coot 287.00 288.00N Int. 3 R.S.S. 285 00 286.00N UK/Oont 284.00 285.00N Int.
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    • 115 4 NOON S8R and SMR p neat yeet ■rdajr J HAS May V JtH (Carraat Mtb) Bayer* Seller* (Forward Mtk) Bayer* Seller* SSR 20 (1-toa pallet l ***** 281 00N 281.00 283 00N SSR SO pallet) 276.00 278.00N 271.00 280 00N MRELB May JUB* SMR CV (1 too
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    • 80 4 THE Straits tin price in Peoug yesterday rose Msl2 per pienl to $2,3 M, $155 above the International Tin Agreement ceiling, dealers said. The firmer sentiment reflected a higher London closing on Ihnrsday coupled with persistent baying demand from US, Japanese, European and local traders and reduced tin
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    • 39 4 Rubber: May 2 Singapore: May: 297.00 cents (down 5.50 cents) Malaysia: May: 303.00 cents (down 6.50 cents) Tin: M 52,300 (up $12) (equivalent to $38.03 per kilo) (up 20 cents) Official offering: ***** tonnes (down 90Vi tonnes)
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    • 177 4 Reuter MALAYSIAN rubber production eased to 1.60 million tonnes in 1979 from 1.61 million in 1978, reflecting output falls in both Peninsular and East Malaysia, the United Planting Association of Malaysia said in its 1979 annual report. Quoting preliminary statistics department figures, including those for Peninsular
      Reuter  -  177 words
    • 198 4 CHICAGO Board of Trade wheat futures closed US V» cent a bushel lower in the near May to up two in the back months on Thursday. Values settled in the middle of an 8 Vi cent range in quiet trade. Local long liquidation took values off days highs, traders
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    • 166 4 CHINESE Prsdsee Exehasge, Stegapsre, cMig prices per lM Idle yesterday: Csesost «II: Fob bulk $145.50 sellers, fob old drum 1155.50 sellers, fob new drum 1162.00 sellers. Cspra: Mixed (loose) $82.75 buyers. Pepper: Muntok white pepper fob ASTA NLW $505.00 sellers, Sarawak white pepper faq .fob NLW $500.00 sellers,
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    • 190 4 CHICAGO Board of Trade soybean futures closed US 6 to 3V« cents a bushel lower on Thursday, on the bottom of a 10-cent range. Local long liquidation settled values on days lows, traders said. A technically weak market and lack of European interest prompted the declines, they added. Local
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    • 193 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) CotUa yam: China Blue Phoenix 20b 2.235 32s 2,725, 40s 2,940 (per bale of 400 lbs). Pteee gM*: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 877 4 COFFEE: Robusta futures closed the morning steady with gains from Thursday of £24 to £27 per tonne after opening with average gains erf £25. Turnover was 1,106 lots including nine options. Dealers said the market held a narrow £5 trading range between the morning's high and low on
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  • ASIAN STOCKS
    • 711 4 TOKYO THE NIKKEI Dow-Jones average gained Y17.57 to Y6,882.65 influenced by the rise of large-capitalisation issues including steel, heavy-duty electrical, heavy machinery and oil issues. Steel issues were extremely active yesterday on buying not only by domestic investors but also by foreign institutional investors because of an expected
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    • 331 4 THE MARKET kept on easing yesterday, as the EBA decided to leave the interest rates at the current level. The Hang Seng index fell 9.66 points to 854.22 in light trading. Stock prices closed lower generally. Property shares again led the decline. Many local investors expect the market will
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    • 281 4 STOCK prices closed steady yesterday except for sharp gains by the partners in the Nabarlek uranium deposit, dealers said. Nabarlek leader Queensland Mines rose 40 cents to A 57.50 while partner Kathleen Investments firmed 30 to 16.30. MAY U2 Oni* INDUSTRIALS A i 1 201 unrh A N 1
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    • 114 4 STOCKS closed mixed yesterday, with turnover falling to 1.9 million pesos from Wednesday's 5.4 million, dealers said. MAY tt! Pnos Anijr Milling 0074 unch Atlas Con A Atlas Con B 3450 -0 75 B.iruh> Gold 006B 0 0004 Brnguet Con B 6600 'Zb BK Goodrich 1500 -05 CIK'P 6
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    • 229 4 STOCK prices closed slightly higher in quiet trading yesterday, dealers said. MAY U2 K.i his AM.1 I'fVdH 140 2 Amm h'lbrr m unrh Ayiith.iy.i Inv And Trust lkuickok lm**siin«*iii 192 1 Haflgtal b.mk 2W 4 lUngkok Drying And Mi .124 -2 li.ingk«»k Insurance li.ingkok MetroiStlii.11) B.in li.uigkok N\lon li.mk
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    • 52 4 FINANCIAL TIMES INDUSTRIALS Thursday 443.2 Wednesday 440.4 Week Ago 434 8 DOW JONES AVERAGE INDUSTRIALS Thursday 808.78 Wednesday 817.06 Week Ago 787.10 H.K.MANG SENG Friday 854.22 Thursday 883.88 Week Ago 854.19 SYDNEY INDUSTRIALS Friday 801.89 Thursday 588.53 Week Ago closed ALL ORDINARIES Friday 783.80 Thursday 78?. 78 WeA
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  • Page 4 Advertisements
    • 164 4 Wendy Hutton's SINGAPORE 1 ....more than just a cookbook! Here, for the first time, is a local cookbook that fives you more than just recipes. More, too, than lots of fascinating and relevant information about Sinfaporean ingredtents and cooking methods. Singapore Food is unique because St puts 3ng~apore's famed cuisine
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  • OVERSEAS
    • 599 5 NYT SWEDEN was plunged into an unprecedented series of strikes and lockouts yesterday that affected every area of national life and ended the country's reputation as an area of labour peace. Employers locked out 770,000 workers at midnight and labour unions responded with strikes involving
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    • 151 5 Reuter PRESIDENT Carter has signed emergency legislation to reopen the Federal Trade Commission (FTC), which was forced to close on Thursday when it ran out of money. Mr Carter's action on Thursday's night means the FTC can resume normal activities lyThe signing came only a few hours
      Reuter  -  151 words
    • 720 5 ARRIVALS Service Local Operator Number Time From FT SIA/BA MAS MAS FT71 SQ/BA17 MH621 MH607 0710 oeoo 0835 0830 JFK/ORD/ANC/TPE LHR/BAH PEN KUL SIA MAS SIA CAL SQ101 MH671 SQ211 CRM 0815 0930 1000 1000 KUL PEN/KUL HLP HLP CPA GIA SIA GIA CX710 GA980 SQ103 GA944
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    • 436 5 JAPANESE Prime Minister Masayoshi Ohira, after talks with President Carter on Thursday, said that Japan would do its utmost to help secure the release of the US hostages in Iran by peaceful means. Speaking one week after Mr Carter announced the failure of a
      UPI photo  -  436 words
    • 285 5 AFP THE worsening crisis in the textile industry in the UK, caused mainly by imports from the US and the firmness of the pound sterling at a time when consumer demand was (ailing, has led to the Courtaulds Group closing three more spinning
      AFP  -  285 words
    • 538 5 AP ISRAELI, Egyptian and American negotiators have began marathon talks aimed at producing significant progress toward an agreement on Palestinian autonomy by May 26. The negotiators yesterday agreed to the so-called "non-stop" talks after President Carter, concerned at the prospect of failure, conferred separately
      AP  -  538 words
    • 197 5 Reuter THE Arab Satellite Communications Organisation (Asco) will issue a new call (or international tenders for the construction of an Arab telecommunications satellite (Arabsat) to be launched by 1982. Asco director-general AliMashat said the conditions, but not the specifications, of the tender will be changed to
      Reuter  -  197 words
    • 211 5 AFP SOVIET President Leonid Brezhnev yesterday dispelled persistent rumours about his health by putting in a 90minute public appearance his first in 21 days at Moscow's traditional May Day celebrations. But missing for the first time were Soviet troops. The parades are usually thronged with
      AFP  -  211 words
    • WORLD IN BRIEF
      • 445 5 Agencies THE US Department of Energy has ordered the Standard Oil Company (Ohio), one of the largest in the US industry, to raise the price of its petrol on the American market by about 10 per cent immediately. The order followed a complaint by independent filling stations
        Agencies  -  445 words
  • Page 5 Advertisements
    • 191 5 HARD TIMES? Despite a creditable growth rate o' 9 3 per cent last year ana a generally "cheerful" Budget. Trade and Industry Minister Goh Chok Tone; warned of "difficult"' years ihead The editorial of the March issue of Singapore Business discusses some of the* possible problems We aslo look at
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  • 349 6 IT IS hardly surprising that ths proposed automated clearing house for cheques should be in danger of meeting further delays considering that it is a scheme which is supported by everyone but which no-one is willing to take responsibility for its implementation. The proposal been mooted
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  • 278 6 THE INTENTIONS expressed in the NTUC's new fortnightly, The Singaporean are extremely laudatory. The NTUC's president, Devan Nair, in an opening editorial regarding the policy of the paper commits the organ to informing and educating readers "to stimulate enlightened action"7lt has always been likewise the policy of
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  • 778 6  -  IMITATION WHISKY The British Embassy in Lisbon has handed the government a report that Portuguese-made whiskies are turning up in Spain, bottled and labelled to look like familiar Scottish brands. At the heart of the problem are the Scottish producers' controversial exports of high strength bulk
    Reuter  -  778 words
  • 678 6  - If only... if only if only... Letter to the Editor CUT THRUST Dew Sir, IF ONLY these two words could sum up the basic theme of the marathon effort by "Concerned" (April 22) where he tries and fails abysmally to portray Mr Jack Chia as one of those soft-faced men
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  • Page 6 Advertisements
    • 146 6 /ft ■Mf or^ c Minister Mindef libra r,?'?i e ?> for »he Sir Brnmt Gowers Since it tint appeared in the fiftiea The Complete Plain Words haa exercised a large and salatuiy influence on official and much other English. It ia, in its own field, a daaak. This thoroughly revised
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  • Page 6 Miscellaneous
    • 1349 6 Issue of baby sales in Lou ONE WOULD art kaw today la a Satarday (rant gates evealag. Lam Gnat < aa Tkm wha have la a satarday (ram gates tkraagk the Itot af TV pngrammca tram Mte SBC. 8a tt leeks Hke viewers will kava to iMt af tattkb Bat
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  • 1112 7  -  SUDAN'S DREAM SHATTERED In the *****, Sudan was grandiosely envisaged as the "Bread Basket of the Middle East". But the Arab money that was to make this possible was never committed. Now the Sudanese are concentrating on maximising returns from existing projects from bread
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  • 896 7  -  As the United States and European Economic Community countries are imposing economic sanctions against Iran, goods everything from food to cars are being transported in increasing numbers to Iran by a fleet of Arab dhows across the Persian Gulf from the ancient
    Reuter  -  896 words
  • 834 7  -  FORUM, with WILLIAM SAFIRE NYT IS IT EVER right to lie? Can the ethical or moral person find a circumstance in which deception is good and truthfulness bad? Or is lying especially by a leader to his people fundamentally wrong? This question, which
    NYT  -  834 words
  • Page 7 Advertisements
    • 48 7 THE C,H \N yP3& y b#c Mrooo<» Bo»' PeOP 'L 3 E BOAT stat»^ <cS pttlaP -j to T t h^p eopl, dratna o* tfW* s W* V^^»- '"M «t^ o an<S factions; ,nt< ,t,oo, <* aod ha^« m «b« ni* to vw»«* x 5 u. 6H. BEST p*
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  • Page 7 Miscellaneous

  • INTERNATIONAL STOCKS
    • 1236 8 NEW YORK THE NEW YORK stock market on Thursday ran into profit-taking and prices turned lower in moderate trading after seven straight advancing sessions, the last four on light turnover. The Dow Jones industrial average lost eight points and declines led advances three to two
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    • 207 8 MAY 01 CI AtHtibi If Alran 29 unch Algoma 29 Bank Mont 24 *i Bank Nova SroUa 25 Bell Tel If. Beth Corp BP Can Ltd 43 Br a.scan 24 Camp Red Lake 35'. .i, Can Imp Bk 25 i_ Canpar 37'. Canpar Inv Pf L Carting O'Keefe Z
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    • 306 8 MAY 01 Rand INDUSTRIALS A Alpha 900 unch Abercom 265 unch AE And CI €75 -5 A MIC 2200 Rarlnw* ao* -5 Cf Sugar 1050 CNA 435 4.5 Cvrrftt Finance 100 5 Dp Beers Ind 2000B Ed con 485B Edgars 6100B Eveready Fed Volk 306 5 Fufit 175 5
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  • Page 8 Advertisements
    • 227 8 Where to wine, dine and entertain On these days, you pay less to come on our package special. cfmnca to tofQat about vorti prooaMy tht MMmdnrxl puMic holiday i Mctothtmoit of ttiMi prttiouaaaysatourhoNdayraaon. Yougstbad.bra«itaat,luncfcplusaMltie *nm to foumtt. No actMtiaa ara planned to moras laaa running around And avanlaaa to pay
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    • 122 8 for sushi. For teppanyaki. For other authentically Japanese delights. Open daily,': 12 noon 3 p ni. 6.30p m. 10 30p m. For reservations cull *****77 J W s < i-iilnr\ I 'nrk HI H'l'i id h i n »r« pjaßlssaj AWJi 1# HUGOS M 2 BUSINESS g|f* Hors d'oeuvres trolley
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    • 114 8 f, I 7! w* >s/ M& Hainanese Steamboat Take the tastiest morsels of squid, beef, chicken, prawn, pork, vegetables Steam them to perfection you 're the Chef Dip them into your favourite spicy sauce and Enjoy the most delicious feast of natural flavours there is Hainanese Steamboat Every evening fromfc
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    • 183 8 Singapore-style fßilton style, lah At the Top of the Hilton, at Hin s That s where you get a selection of typically Cantonese 'avourites And our very own Flavours of Singapore No mess No noise Just great chow In the comfort and serenity of the Hilton. If you live to
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    • 198 8 The American Express Card serves you well wherever great food is served 'V Tc r OD Lftl; n 2 I h "U »u IP -V m 4 Ronnie CTrio Robin's Tavern. The place to gfi>7 after work. To relax, and to enjoy your favourite drink. In a cosy, soothing j
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  • BANKING AND FINANCE
    • 214 9 Reuter AMERICAN Express Co's Fireman's Fund Insurance Co has established a working business relationship with People's Insurance Co of China. Under the agreement, Fireman's Fund will insure some of China's ocean marine business. People's Insurance Co will act as survey and settlement agent for Fireman's Fund
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    • 216 9 THE RECENT easing of US interest rates has led to a continued easing off in the dollar's value against the deutschemark and other major currencies. From 1.8000 to the dollar last month, the mark has firmed to 1.8900 recently, said the Manufacturers Hanover Trust's latest foreign currency
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    • 683 9 BONDS LOANS Agencies ONE of South Korea's leading commercial banks, the Haail Bask, has entered the Euromarket seeking an eight-year $50 million loan, banking sources said. The lead bank for the loan is Citibank and terms are three years at 0.75 per cent over London Interbank offered rate (Libor) and
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    • MONEY AND EXCHANGE$
      • 523 9 THE U.S. dollar closed mixed against the major currencies yesterday in the absence of any fresh factors in the market. Much of the day's activity was centred on the Japanese yen which opened at 240.30/50 to the dollar. Early trading was very much in the dollar's favour as
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      • 47 9 RESULTS of tender held on May 2 for 91-day Treasury bills to be issued from May 5 to May 9. Offered: $40,000,000 Applied for: $300,500,000 Allotted: $40,000,000 Accepted bids: 198.25 and above in full. Average rate of discount on Allotment: 7.020 per cent per annum.
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      • 51 9 THE U.S. dollar for overnight delivery closed at 240.10 yen yesterday, down from a 240.50 opening but up from 239.70 at Thursday's close, dealers said. Trading was moderate with volume of US$Bll million. The dollar for immediate delivery was last traded at 241.10 yen, up from 240.93 at the
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      • 178 9 MAY III Fix AliN IU.SU0 0.5 AMI •i« M 05 Ak/«» L\ "10 03 AMI 99 HO -o.:i Anil.in 108 00 -I Aniro t*uiik 63 SO 05 U*TK«»>N Ur rk Mi 61 80 -03 UofMltUIJ liurhiii.mii Hyenkurf SH (JO -15 l al\r Ifc-lfl l»h Mij sr. ho 2
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      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 12.2 per cent.
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      • 180 9 ASIAN ASIAN currency deposit*, lnterbank rates as at close on May 2: US DolUr«(8pot) Offer BU 7 days 13 v« 13M. 1 month 13'/k 13 2 months 14 5/16 14 3/16 3 months 14% 14'/« 6 months 14 13% 9 months 13'/« 13% 12 months 133/16 131/16 SwJr*. Das. /MuUU
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      • 6 9 (TTqT!] Source: National Discount Co
        6 words
      • 290 9 GOLD futures in Singapore yesterday closed easier compared with Wednesday's close, after fluctuating marginally throughout in generally light trading, dealers said. Total sales for the day was reported at 71 lots and kerb volume at 104 lots with interest centred on June and August contracts, they sakL June closed
        290 words
      • 158 9 THE U.S. dollar held basically steady yesterday against the major currencies in the absence of any new developments and with operators cautious ahead of the holiday in Tokyo on Monday, dealers said. The US unit eased slightly to 240.40/70 from an early 241.00/15 but was above the 240.25/45 New
        158 words
      • 404 9 THE U.S. dollar opened marginally firmer yesterday on Far East trading levels against most major currencies on the back of a slight firming in Eurodollar deposit rates, dealers said. Trading remained restrained following the closure on Thursday of most European centres on May Day and ahead of the long
        404 words
    • 307 9 UPI FACED with delays in US contributions, rich and poor countries in the Asian Development Bank (ADB) on Thursday turned to oilproducing countries to pump more money into the bank's cheap loan fund. In speeches during the Bank's 13th annual meeting of Board
      UPI  -  307 words
    • 279 9 Reuter A SHARP upward surge in international bank loan demand, at higher spreads, is highly probable in coming months. Amex bank said, in its latest bank review, the demand will materialise as borrowers weigh the alternatives of cutting import demand or seeking official finance.
      Reuter  -  279 words
    • 181 9 Reuter PARLIAMENT has aatil the ead of Jue to pass a revised Bask Act which will ipea the Caaadlaa market to hreip banks. Minister of State tor Finance Pierre Budera said: "There to little need tor me to emphasise hew orgeat it to that this Mil
      Reuter  -  181 words
    • 354 9 Reuter THE New York Securities and Exchange Commission (SEC) chairman Harold Williams said on Thursday that his agency's investigation of the Hunt brothers activities in the silver market will look into several areas, including net capital rules for brokerage firms. Mr Williams said that the type of risks
      Reuter  -  354 words
    • 194 9 Reuter AP US SENATE Democratic leader Robert Byrd said that major banks should begin to reduce their prime rates. "The Fed is not driving down interest rates. Slack loan demand is driving down interest rates, and it is time that our major banks recognise this fact, and
      Reuter; AP  -  194 words
  • Page 9 Advertisements
    • 1 9 II
      1 words
    • 128 9 ft iS s t. H Vv 41 u II ■I *t Available at All Shell Petrol Stations r ,< 111 Times Orchard Centre Robinson's Bookshops John Little's Lucky Plaza, Mezzanine Floor Specialist's Centre Clifford's Centre Plaza Singapura, 4th Floor CONTENTS Road Safety and You Road Accidents: Taking Cover Insurance: Look
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  • 1432 10 "4JH> and offer prices officially listed and business in and reported to the Stock Exchange of' Singapore yesterday with the number of shares traded $own in brackets in lots of 1,000 units, unless otherwise $ecified. SECTION ONE Z INDUSTRIAL A COMMERCIAL Acma
    1,432 words
  • 152 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Minimi' prices far May (Cwrsat pr tees) The Commerce 2 40 2 52 Income Bond 1.15 1.21 The Savings Fund 1.51 1.58 S'pore Prog Fund S pore Sec. Fund S'pore Invest Fund S'pore Equity Fund 1.08 1.13 1.90 2.00 MARA RUMIPUTRA 1.4S
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  • 2605 10 1980 High Low Compaay Last Sale orGr** Div Div Cvr Gr*s Y*M Net P/E Vol COOO) Day High Low SECTION ONE INDUSTRIAL COMMERCIAL 370 223 149 183 324 80 290 482 220 340 245 220 116 140 270 80 275 328 187 285 Acma Alcorn Allied Choc
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  • 1528 10 BID and otter 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 Aem» (3.205) AJmb (2.158 2.175) (1) 2.16 cd Alex HaM (1.328)
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  • LATEST RESULTS
    • 62 10 has reported an unaudited pre-tax profit of M 5312.500 ($292,900) for the six months ended Feb 29, 1980. Rubber production was 665,595 lbs (662,812 lbs) while the average rubber price obtained was 87.10 cents per lb (72.49 cents). Oil palm production was 507,813 long tons
      62 words
    • 47 10 has reported an unaudited consolidated net tangible assets of $59 56 million, or $1.19 per share, as at March 31, 1980, compared with 555.29 million or $1.11 per share as at Dec 31, 1979. This represents an increase of 7.7 per cent in value.
      47 words
    • 67 10 has reported a pre-tax profit of $5.38 million for the year ended Dec 31, 1979, compared with $4.06 million the year before. Its directors have recommended a first and final dividend of 10 per cent less tax (5 per cent). The transfer books and register of members of
      67 words
  • 417 10 LOWER-LINERS stoic toe limelight at the Singapore stock market yesterday. Leading to volume, Perak Carbide shewed stronger than una! activity. Aa Initially easier trend was reversed during the late afternoon as bnyers emerged to hoost the eonnter to 82 cents, for a net gain of V/t
    417 words
  • 566 10 TRADING was generally quiet and hesitant at the Kuala Lumpur stock market which closed on a mixed note yesterday. Selected issues, mostly lower-liners, forged ahead on moderate buying interest. The market, as in the past few sessions, was down-rated by small operators hoping to profit
    566 words
  • 134 10 ULU Benut Consolidated Industries (M) has made an encouraging turnaround in the first half-year, after suffering a marginal setback in the last financial year. The group's pre-tax profit was more than doubled to $547,613 in the half year to Feb 29, 1980, against $233,021 previously. The increase
    134 words

  • COMPANY NEWS
    • 1175 11  -  By CATHERINE ONG THE GIANT United Overseas Bank group is poised to expand beyond the confines of Singapore in the new decade, with its authorised capital pitched at a massive 1500 million and its paid-up capital surpassing the $200 million mark. The performance of
      1,175 words
    • 114 11 Date Last Fall Year Cempaay PMM A—weed Net EPS Grace Pre-tax last year (eeats) Wv. Flu i HI trout Sealion <%) ($1M) F 1/3 6.8 5.0 4,057 Apollo Ent F 6/3 7.4 7.5 4,353 Ambassador F 10/4 6.9 7.5 806 A Choc F 17/4 9.7 3.0TE 2,413 Pub
      114 words
    • 777 11 Current Payment Ex Date Book* Close Date Total for Total for Payable the year Previous year Rah Hyd Aokam Tin Mai Tin BATS 60% I 10* I 145% I 43% Apr 10 Apr 10 Apr 10 Apr 21 Apr 22 Apr 22 Apr 22 Apr 27 May 5
      777 words
    • 329 11 HIGHER running costs and competition have lowered earnings at C K Tang in spite of higher sales. Preliminary results of the parent company showed a lower pre-tax profit of $2.44 million for the year ended Dec 31,1979, compared with $3.34 million in
      329 words
    • 353 11 AJINOMOTO (M) Bhd: AGM to be held at 6'/i miles, Simpang Salak South Baharu, Kuala Lumpur at 9am today. Malayslaa American Assurance Company Bhd: AGM to be held at Malaysian American Assurance Training Room, 12th Floor, Chartered Bank Building, 2 Jalan Ampang, Kuala Lumpur, at 11am on May
      353 words
    • TAKING STOCK...
      • 537 11 by HOCK LOCK SIEW IT is heartening to note a generally improved standard of reporting and disclosures in the annual reports of companies released in respect of the last financial year. Besides the usual trend charts, pretty photographs and statutory gibberish, we will see, for most
        by HOCK LOCK SIEW  -  537 words
      • 53 11 said its No 1 dredge had to be shut down on April 22 because the bucket band broke down. One end of the broken band has been secured and work has begun to recover the remainder. The time taken to complete this task is estimated to be at
        53 words
      • 21 11 have approved the bonus issue of one for four at an EOGM on April 16.
        21 words
      • 15 11 said its chairman, Mr Cheah Phee Cheok, died on April 29. 1
        15 words
      • 48 11 replying to the KLSE, said the article in the Business Times entitled, "A puzzle at KLI," warrants no serious comments.' It said it is studying various possibilities, including the takeover of Kuala Lumpur Industries as mentioned in the article, which might suit the group's expansion plans.
        48 words
      • 69 11 has accepted more offers for a total of 103,000 shares of (1 each fully paid in Permas Jaya, representing 0.38 per cent of the paidup capital of Permas in exchange for 64,375 of its own shares of $1 each. Bandar Raya has so far accepted a
        69 words
  • Page 11 Advertisements
    • 29 11 Have Y«» your to ?y.®l, e .tngVisVi times CViincse-tws Dictionary TW s t r P d a oUCos»tp"o- d ,e low-prwed o oWlon «ry Chinesetngl n teodl „g BBS-*-
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  • 551 12 Reuter CONGRESSIONAL delays in approving US funds to the Asian Development Bank have caused a very immediate and critical ffiroblem. Bank president Taroichi Yoshida of Japan said at (be close of the 13th annual ADB meeting in Manila yesterday said a special meeting of ADB
    Reuter  -  551 words
  • 149 12 AFP MALAYSIAN Prime Minister Datuk Hussein Onn stressed that the amendments to the labour laws were aimed at improving the livelihood of workers. He said the amendments, approved by both Houses of Parliament recently, would bring bene* fits to workers, j The move reflected the
    AFP  -  149 words
  • 841 12 LONDON, Frl. British government bonds moved higher while equities closed mixed in quiet trading. At 3 pm, the FT index was up 0.5 at 443.7. British government bonds firmed as much as V« point in i espouse to some investment demand and ahead at a possible new loan
    841 words
  • 472 12 Agencies THE THREE gunmen threatening to kill the 19 hostages in the Iranian Embassy in London held their fire yesterday despite the execution of two of their compatriots in Iran. The gunmen did not retaliate against the firing squad execution of two dissidents in their
    Agencies; AP photo  -  472 words
  • 383 12 Reuter AFP PRESIDENT Carter has gone to his Camp David mountain retreat for a full review of foreign policy, a week after the failure of a mission to rescue the US hostages from Iran. Senator Edmund Muskie, the man picked as the new Secretary of State
    Reuter; AFP  -  383 words
  • 247 12 UPI ALTHOUGH his salary was a relatively modest U*****,000, Mr Frank Rosenfelt, president of Metro-Goldywn-Mayer, the entertainment combine, was the highest paid executive in the United States last year, Business Week said on Thursday. Mr Rosenfelt's total compensation was more than |5 million. Business
    UPI  -  247 words
  • 582 12 AP THE possibility of a new round of Organisation of Petroleum Exporting Countries crude-oil price increases was raised on Thursday as Saudi Arabia and Kuwait, two large and influential Opec members, were reported to be considering increases. In Nicosia, Cyprus, the Saudi
    AP  -  582 words
  • 299 12 Reuter THE United States faces a mild business recession unless a repeat of the major financial collapses of the previous two recessions is seen, Salomon Brothers partner Henry Kaufman said. In remarks prepared for delivery to the Economic Club of Chicago, the text
    Reuter  -  299 words
  • Page 12 Advertisements
    • 77 12 sSb'ssss •ss«t«flftjSsss-r.-o°° •<*sOC* fc vVvec^s v l&zS&zi?" -Aaro© 0 ~_vJa_ .Aft] CoO«***r»v)B*-^^-"We are avid readers of The Asian Wall Street Journal and, in fact, taking a number of copies for our executives." Mr. Robert C. Harland External Affairs Manager Coca-Cola Far Eaat HONGKONG if you've found the Asian Journal valuable
      77 words
  • Page 12 Miscellaneous
    • 219 12 RAINFALL for the month of April was below average for about 60 per cent of Singapore. The highest rainfall for the month was in the western district where more than. 266.7 mm of rain were recorded. The central part of Singapore received the least rain, with less than 86mm being
      219 words

  • LEISURE TIMES
    • 921 13  -  DESTIMATIOI By MARGARET THOMAS YOU'VE bttrd the old Joke •bout Americans 'doing' Europe in two or three weeks all those "If this is Tuesday, then it must be Brussels" quips. Wen, I 'did' Canada in less than three weeks, skipping across at least threequarters of
      921 words
    • 564 13 DO YOU wake up Sunday mornings wondering how to fill the day? How to find something 'different' to do. Something which will be a nice change. Have you perhaps given up on the hope of finding some new corner of Singapore to explore? All is not
      564 words
    • 833 14  -  By JOHN LIM BILLY Joel fans who remember him for tunes like "Just The Way You Are" know him as a middle-of-the-road (or MOR in music Jargon) balladecr of love songs. But there is another group of Billy Joel fans those who remember
      833 words
    • 66 14 THE Cedar Girls' Secondary School Harmonica Band and Recorder Ensemble will present the Ministry of Culture's Concerts for the Young. The recital will be held at the Marine Parade Branch Library Auditorium today at 2pm. Admission is free. Soloists will include Germaine Koh Jiu Meng, Ng Hui
      66 words
    • 110 14 THE MUSIC for Everyone series this month will feature pianist David Lockett. The recital will be held at the DBS Auditorium at Bpm on Monday. The programme is: Sonata in C minor K& (Mozart), Sonata in E op 109 (Beethoven), Consolation No 3 in D
      110 words
    • 116 14 THE LATE Lord Louis Mountbatten will be remembered in a special musical tribute staged by the United World College of South-east Asia. The performance, to be held at the Singapore Conference Hall on May 16, will be staged by more than 180 people from the college. Lord
      116 words
    • 279 14  -  PETER WONG GIGI GALON, no stranger to Singaporeans, is currently making her forfth performance here at the Mandarin Hotel. Her real name is actually Juanita Malalis Galona. Gigi Galon, she exclaims, is a more exotic name, one that people will not forget easily. "Come
      279 words
    • 664 14  -  WEEKEVD GOURMET GBS ONE of the most pleasurable experiences a gourmet can have is to discover new cuisines. I do not claim to be a gourmet but I do enjoy an occasional adventure, trying out something strange and unfamiliar to the palate. Much as one can rave about
      664 words
    • 770 14 SEIZABURO Kawano is built like a fireplug, with some 150 muscular pounds crammed into a body so short that it looks more like 250. He holds a black belt in judo, but his manner is mild. Mr Kawano, who is a 40-year-old native of Japan,
      770 words
    • 128 14 AN EXHIBITION of Danish, Norwegian and Swedish products will start off the StmUm viao Festival brought to you by the ShangriLa Hotel and the Scaadinaviaa Airlines. Visitors to the exhibition, which begins today at the Shangri-La lobby, can pick np tourist information on the three flnnilMvlii countries and,
      128 words
    • 970 15  -  S. H. ANDERSEN "NOW I'm so fussy no one asks me anymore," Dirk Bogarde said, explaining why lie has not made a film in three years, after appearing in 60 pictures in 30 years. Into this lull in his life the British actor has
      970 words
    • 1195 15 ■OTORIlfl with l^ermes THE FIAT 131 Mirafiori series has been around for a good four years, and judging from the number of the model on the roads, it looks like a worthy successor to the 124 series which also enjoyed a healthy run. The original plan for
      1,195 words
    • 457 16 JpOLF: The last two trials for the Putra Cup .representatives will be held today and tomorrow 'at the Singapore Island Country Club courses. Hie 7th trial will be played at the Bukit course this afternoon and the last trial at the "Jfenr course the next morning. The
      457 words
    • 375 16 THE Singapore Sports Council will be screening another series of filmlets at the National Stadium theatrette this month. The first screening will begin today, with Ave filmlets. The first, Bkes an Back, will provide cyclists with some pointers on safety, maintenance, reaction time during
      375 words
    • 1082 16  -  By RONALD KOW IT IS QUITE unlikely that Johore will reach the final of this year's Malaysia Cup soccer tournament, much less win the Cup, but the team will certainly make it very difficult (or other contenders in the race. At least
      1,082 words
    • 91 16 TOP MONEY EARNERS (US* > i U 7y% w"*l i rr* f*T r y r ~rr y i MEN'S TENNIS BJora Borg 332,700 John ICccn Oe 227,544 Jimmy Co—ari *****75 Vitas Garulaitfc 108,468 Brian Gottfried 17,225 Ivaa LbkD 97,00 Wojtek Flbak
      91 words
    • 484 16 Reuter ROCKHILL NATIVE vu totalled on Thursday at the proMabie favourite to become the lint gelding to win the Kentucky Derby to mace than half a century today. The track hanrticapper at Churchill Downs listed Rockhill Native at 8-5 to his early betting line as 11 colts
      Reuter  -  484 words
    • 523 16 Reuter AMERICAN-OWNED Quick as Lightning, a lucky chance mount for 40-year-old Jockey Brian Rouse, stretched out close home to win The 1,000 Guineas, the first classic of the British racing season, at New Market, England, on Thursday. Rouse, a rider who is rarely
      Reuter  -  523 words
  • Page 13 Advertisements
    • 69 13 RICOH Plain paper copers ft«M^a|^4lAM#4A I 'IVMIM DyOfnCM WOnOWIO© CALL *****5. Wywy Private Limited mmmm Wywy House, 17 Leng Km Road, mW Singapore 0315. Billy Jotl wants to plaaaa all his fans II Smooth and silky, but tha Mirafiori is not as powarful as axpactad 11l Tm too fusay,' saya
      69 words
    • 175 13 A helping hand when you need R most Ground floof. Shaw Houm, Sinf pow 0923 T«l: *****77 An expansive but skilfully assembled story, sex mainly in New England, Long Island and the Philippines, that focuses on the destinies of a talented medical family between 1950 and the present. The central
      175 words
  • Page 13 Miscellaneous
    • 824 13 R WHAT WHERE J FILM SHOWS THE National Museum will screen two colour films today at 10.45 am. InerediMe Florida is a musical score for woodwind, percussion and string instruments. Batterfly Maa presents Malaysia in general, wth emphasis on Kuala Lumpur, Penaag, the East Coast, Sabah and Sarawak.Courtesy of the
      824 words

  • Page 14 Advertisements
    • 351 14 The LIFE Library Of Photography iJ 'ju n •4 r k S' The Life Library Of Photography Each volume measures 10'/< x 10 1 inches (26 x 26 cm). Hard cover, silver stamped black cloth binding. 240 pages. Approximately 300 illustrations, many in full colour. helps you to see great
      351 words

  • Page 15 Advertisements
    • 95 15 V i a TT\« "The Times Heritage; Collection The magic and mystery of India are TCmMPH] captured in this enchanting collection of stories. Well illustrated and simply told, this series of 4 bilingual Indian folktales have been compiled and published locally to provide rich, wholesome reading for all readers. Now
      95 words

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    • 128 16 £Et~ i »■>* *&c" JHi 1 i 11 "WHi in V-: I .pS v II -♦d if V:*sar.vmk > O* co^ 3»Mf na\ sss-gsiw The sia t u jour \?SM st THL w m *> .V •Is* V,^JI f I m ?s wFfc ir a "-V' i' v SIP. y
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