The Business Times, 17 May 1980

Total Pages: 16
1 16 The Business Times
  • 11 1 BUSINESS TIMES M.C.(P) No. 111/1/81 SATURDAY, MAY 17,11 M 50 CENTS
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  • BRIEFLY...
    • 77 1 TOKYO, Fri. Prime Minister Masayoshi Ohira dissolved the Diet (Parliament) today and called a general election for next month after suffering a suprise defeat in a no-confidence vote brought on by the Socialist Party. Seventy-three members of Mr Ohira's ruling Liberal Democratic Party turned their backs on
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    • 65 1 AP VIENNA, Fri. US Secretary of State Edmund Muskie, in a speech watched by veteran Soviet counterpart Andrei Gromyko, has accused Russia of threatening world security. "Today we are faced again with a vital lesson from the past that an act of aggression anywhere threatens
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    • 63 1 Reuter BEIRUT, Fri. Helicopter-borne Israeli commandos struck deep into South Lebanon before dawn today, ambushed a truck and left behind a booby-trapped radio that later killed four guerillas. Palestinian sources said they reported that the commandos landed during the night near the Palestinian stronghold of Nabatiyen and
      Reuter  -  63 words
    • 68 1 Reuter LONDON, Fri. Britain's annual inflation rate has doubled since Margaret Thatcher became prime minister a year ago. Treasury figures say the yearly rise in retail prices for the 12 months to April this year worsened to 21.8 per cent. This compared with annual rates of 19.8 per
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    • 68 1 AFP JAKARTA, Fri. The police of Singapore and of Riau province have agreed to step up cooperation to fight crime in the two territories. Riau police chief Brigadier General Hudioro said today the understanding was reached during a visit to the Riau island group last May 10 and
      AFP  -  68 words
    • 73 1 SINGAPORE'S number-to-number telephone service will be extended to Mauritius and international direct dialling service will be introduced to Lesotho from Monday. The charge for a number-to-number call to Mauritius is Ss27 for the first block of 3 minutes and Ss9 for subsequent block of one minute. The charge
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    • 54 1 AP NEW YORK, Fri. The stock market was little changed, responding calmly to another sign of slumping economic activity. The Dow Jones average of 30 industrials slipped 0.26 to 822.27 in the first half hour. Gainers and losers ran about even in the early tally of New York
      AP  -  54 words
  • 135 1 Rites Indices NtUuUU Kockal Man on Corp* MBukiac 100 440 900 1040 115 +88 36 +20 B.T. Indicator: Industrials: May IS May 16 4672.92 4688.62 506.63 503.09 9el Propertie» Public Textile 790 +20 Finance: 889.40 890.91 190 19 Hotels: 444.01 443.92 Sovran 300 12 Properties: 370.98 373.14
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  • Article, Illustration
    144 1 Rise Indices OUEnt 550 +45 May 15 May 16 M Banking 1060 +60 B.T. Index: 7778.51 7796.01 Magnum Corp 900 +25 Industrials: 579.91 578.72 Public Text 190 +15 Finance: 799.57 ***** U Cable* 340 +12 Hotels: 366.81 371.06 UE (M) 137 11 Properties: 406.36 409.42 Tan Cbong 580
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  • 639 1  -  NG TENG FONG'S GRAND PLAN By TEO TECK WENG LOCAL real estate tycoon Ng Teng Fong plans to build three more shopping complexes in the Orchard Road area, sources said. The three complexes will bring to nine the number of shopping centres developed by the
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  • 233 1 NGEE Ann Kongsi is taking Metro to court in their dispute over the property at Orchard Square. A writ has been served on Metro's subsidiary, Orchard Square. Development Corp Pte Ltd (OSDC). Negotiations with Ngee Ann Kongsi for an amicable solution to the matter
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  • 418 1 SEVERAL adverse factors are threatening the growth of the local plastics industry and some companies are contemplating to slow down production. The industry, which relies heavily on petrochemical raw materials, is plagued by rising costs. Other problems facing the industry include low labour productivity, high
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  • 347 1 MITSUBISHI Bank has offered a US$l5 million floating rate certificate of deposit (FRCD) in the Asian dollar market. This will be followed closely by a similar issae by Daiwa Bank on Monday. Lead-managed by Morgan Guaranty Pacific, the three-year Mitsubishi paper is the first FRCD floated in
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  • 183 1 UNDER the eever ef darkness, phrtmglii $S netos tonehed ap with green paint have leand their way Into the peeks* ef ansnspeeflng SiagapaMany ef the visit— are taxi drims whs have ty forged netos by aassengees daring the sight. eaa euty be paaMd off
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  • 502 1  -  By MANO SABNANI A NEW $100 million takeover bid for United Industrial Corporation has been made by the company's chairman, Mr Lee Kim Yew (Dennis Lee). First indfcatfctas are that the offer has a fairly good of success. The bid, to be made
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  • Page 1 Advertisements
    • 6 1 TheMMOUAEP3IO PPCdoesttal. m See baek page
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    • 118 1 get the feel of the Ww-LOOr rrnMIOrS they put mom payability into your game any time! LYNX Predator Irons Definitely buHt for ban control its compact, classic head design is renowned for its ability to deliver 1 maximum distance, control and accuracy because of its exclusive 10% lighter L YNX
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    • 56 1 wmzzz LEISURE TIMES WORK BEGINB *n Harisaa COLD Storage grsap prised to Tiweri 2 expMd 11 A MINI Slagapsre la East PASSPORTS avnllable within SI Malayria 1 mlaates 12 JAPAN to restrict inflow sf OHIRA SUFFERS sarprise defands 9 teat 11 AIRCRAFT ft, TV AND RADIO ft, CROSSWORD WHERE TO
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    • 1 1 Le*4er...p*fe
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    • 42 1 Corporation For all types of w Colloory (Oriental 4; irttwMif)Tdex: RS ***** A/V RAKKOR n*ke* Ittfta. Crtte-«Aigco«r- Metfa.roots. aptcea MwlrW Emmc mArnttU TM: H4*4 MoNofactorcr. ""Aiocoof Jofcort Bahru miller ae4 atacl A 4 m VV, WzzzK TTi riv-iL .iiV l'f ii» '■V^-l:*«.
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  • TRADE AND INDUSTRY
    • 398 2  -  By TEO TECK WENG PILING work has begun for a new condominium on Leonie Hill. This is the first protect under the seventh Urban Redevelopment Authority site sale to get off the ground. The estimated cost of development (or Horizon Towers is HOO million. The
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    • 550 2 MALAYSIAN crude palm oil (CPO) production crossed the two million-tonne mark last year, exceeding by a wide margin earlier forecast by the producers. Output of the commodity expanded by 24 per cent to 2,032,8* tonnes. The Oil Palm Growers Council (OPQC), in one of
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    • 232 2 THE General Manager of Oberoi Imperial Hotel, Mr Anil Madhok, announces the appointment of Mr B«Ohri Frieke, 36, as Resident Manager. Mr Fricke is no newcomer to the Far East. He began his career in the hotel industry by gaining practical experiences in Europe. While attending a
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    • 210 2 THE Second Asean Council on Petroleum (Ascope) Conference and Exhibition is scheduled to be held in Manila from Oct 7 to Oct 11. The Philippines National Oil Company will be the host of the exhibition. Future energy for Asean will be the main subject of concern
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    • 127 2 THE GENERAL Insurers Association is believed to have decided to donate some $450,000 to two major government-sponsored institutions. Sources say the GIA, representative body for the general insurance industry, will give 1200,000 to the safety park that is sponsored by the Government to help inculcate safe driving
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    • 425 2 SEMINARS AND COUEBEB May 19-June 19: Reliability Engineering, Sisir Lecture Room, Sisir May 21-23: Advanced Programming Techniques, Institute of Advanced Technology May 22-23: Managing Foreign Exchange Risk, Shangri-La Hotel, AMR International May 23: 10 Lectures on Psychology (or Daily Living, Room 37C, Waterloo Centre, University of Singapore's Department
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    • 418 2 THE chairman of Sime Darby Berfaad and former Malaysian Finance Minister, Tun Tan Siew Sin, has been appointed to the newly formed International Council of the Asia Society. Tun Tan's appointment was announced in New York this week by Mr George W. Ball, chairman of
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    • 145 2 BIME Darky Singapore's Oral flatted factory pnjed the $2« million Deito House will fee officially opeaed fey Shoe ehalrmaa Tu Taa Sew Sin oa May 22. A statement fey Sime'a Property Services says that space la the factory complex was Mid wtthla nine months from eommeieement
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  • Page 2 Advertisements
    • 190 2 HARD TIMES? Despite a creditable growth rate of 9.3 per cent last year and a generally "cheerful' Budget Trade and Industry Minister Goh Chok Tong warned of •difficult" years ahead. The editorial of the March issue of Singapore Business discusses some of the possible problems. We islo look at the
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  • REGIONAL
    • 324 3 AFP WITH superpower rivalry hanging over foreign mini»ten of the Islamic Conference opening in Islamabad today, pro-Eastern and proWestern nations were engaged in a tug-of-war over whether Moscow or Washington should face the brunt of Tabimfa» displeasure. Moderate nations, such as Indonesia
      AFP  -  324 words
    • 292 3 AFP THE large Japanese trading company Mitsui may suffer kwes of up to 35 billion yen if the Japan-Iranian petrochemical complex project is dropped because of strained relations between the two countries. According to an estimate by Japan's second largest general trading
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    • 132 3 JAPAN'S March industrial production index was revised downwards to 142.5 (base 1975) seasonally adJusted from a preliminary 143.7. The International Trade and Industry Ministry said the revised index is down 3.5 per cent from 147.7 in February, when it rose 5.7 per cent from January.
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    • 143 3 Reuter THE Australian government is considering a report on the high levels of protection given to the domestic textiles and clothing industries, government officials and industry sources said. Although the report from the Industries Assistance Commission (lAC) is confidential, companies in the industry fear it
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    • 414 3 PROPOSALS CONSIDERED AFP INDIA and Asean have agreed to take several steps to enhance cooperation In trade, industrial and technical fields. Officials of the two sides, who ended a two-day meeting in Kuala Lumpur yesterday, have considered the following proposals: the possibility of pooling technical and
      AFP  -  414 words
    • 476 3 AP SOUTH Korean university students yesterday decided to call off their anti-govern-ment demonstrations, after more than 50,000 protestors battled with riot police on Thursday. One policeman was killed and at least 13 others injured in those riots. Student leaders held an all-night session that ended
      AP  -  476 words
    • 463 3 PENINSULAR Malaysia last year imported about 5.3 million tonnes of crude oil or about 5.6 per cent more than in the previous year, including 881,160 tonnes from Sarawak. The import bill, however, rose by a higher margin of 31 per cent
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    • THE REGION IN BRIEF
      • 477 3 Agencies A MAJOR earthquake measuring over 6 on the openended Richter scale rocked the eastern part of Indonesia yesterday. The earthquake in the Banda Sea occurred at 3 am north of the tiny Babar archipelago east of Timor island. HONDA Mater af Japaa aaM aaaembly af Ita
        Agencies  -  477 words
    • Article, Illustration
      409 3 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barber Nara (RO/RO) (0400 after Eastern Muse Req. Starboard to) 46/17 Catharina Olendorff (after Hoegh Orchid) 31/32 Iyo Maru (0900 after Lucky Dan) 42/43 Kimanis (0600 shifts) 20 Lumut (after Straits Hope) 21 West Marie Bakke (after Hohenfels) 6/7 Nedlloyd Seine (0600
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  • Page 3 Advertisements
    • 116 3 FAR EASTERN FREIGHT C SABAH, BRUNEI AND SARA! CONFERENCE FAR EAST/GULF OF ADEN AND RED SEA PORTS CONFERENCE NOTICE TO SNIPPERS CURRENCY ADJUSTMENT FACTOR Reference is made to the notice in the press on 22nd March, 1960. A review of currency values on 12/13/14 May, 1900, has resulted in a
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    • 98 3 >**V -j Vi>i *v •/:> Ask.-* X". s 1 is 7-> f t> ''•'•"I I'M CHUNG BRAND genuine leather shoes. Chung Brand genuine leather shoes. A blend of old-world elegance and contemporary styling Hand-made in the finest Chinese artistic tradition. Choose from a select variety of calf, cow or goaf
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  • RAW MATERIALS
    • 234 4 SOFTER conditions again marked the week with levels down some seven cents finally. Turnover was moderate throughout. The review of the Malaysian and Singapore rubber markets from IMMay, Catler and Bath said London's initial weakness on lack of orders and strength of the sterling
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    • 336 4 9NGAPOBE: Yesterday's closing prices in S) per kilo, ex-godown: THAI WHITE: 100 per cent flrat class (Kangaroo) new crop 1.05, 100 per cent second class 0.90, 100 per cent third class O.M, 25 per cent new crop 0.80, B-10 per cent O.K. THAI BROKEN: A-super 0.63, Special no stock.
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    • 254 4 The rubber market in Singapore closed slightly lower with June One RSS buyers quoted at 290.50 cents per kilo, down half a cent from Thursday's close, dealers said. Prices eased 0.50 cents during the morning's trading on some speculative selling, they said. Some early afternoon firmness was not sustained
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    • 293 4 R-A.S. price* In cent* per kilo yesterday: Nona (per kilo) Int. 1 R.S.S. prompt fob. moo" I7M Int. 1 R.S.S. June 290.00 M.OO Int. 1 R.S.S. July ***** B5.50 Int. 2 RJS.S. 293.00 284.00N uk/Coot moo mooN Int. 3 R.S.S. moo 2B1.0CN UK/Coot 279.00 280.00N Int. 4 R.S.S.
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    • 78 4 nuuri obh ana saui pncaa IAI *<u tea J n«M*> (hr. Min Im Mm SOK*) 11 88RS0 (1 MM SMRCV a y sc Dallat i T74JJ ITU Ja uu 0 >76.006 TOO o mooN ru Jmi 0 S37.00N 3M.0 o moos o moos r o munriN wp
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    • 126 4 CONFIRMATION «I the first tin sale by the US General Service AdmlsIstratlen (GSA) weakened the tin price Ms 23 per pftcal to $2,1K, $47 abeve the International Tin Agreement ceiling, dealers said. Bayers were caution» (•lie wing news s( the GSA annenneement that the first tin sale of
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    • 39 4 Rubber: May 16 Singapore: June: 290.50 cents (down 0.60 cent) Malaysia: June: 294.00 cents (down 0.60 cent) Tin: M 52,192 (Down $23) (equivalent to $36.24 per kilo) (down 38 cents) Official offering: 139V4 tonnes (down 4V* tonnes)
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    • 190 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, ex-go-down) CMtm jin: China Blue Phoenix 20s 2,195, 32s 2,590, 40k 2,850 (per bale of 400 lbs). gaads: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly unq; Flying
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    • 227 4 THE Chicago Board of Trade soybean futures gained US4 V« cents a bushel in the spot to two cents in deferred May on the close on Thurdsay. Prices ended near highs of a ten-cent range. Extremely large professional and commercial purchasing in the comparatively thin market caught locals short
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    • 169 4 CHINESE Predaee Exehu|«, Stogspere, etestag prices per IN kg yesterday: CMMt ell: Bulk fob 1137.50 sellers, old drum (in second hand drum) fob 1117.50 sellers, new dram fob $154.00 sellers. Capra: Mixed (loose) 179.00 buyers. Pappsr: Muntok white pepper fob Asta NLW $500.00 sellers, Sarawak white pepper faq
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    • 773 4 COFFEE: Robust* futures yesterday ended a quiet morning session steady near to opening levels and with gains from Thursday of mostly four to £10 per tonne. Turnover was 1,446 lots including six options and around 100 lots of cross trades. Commission House and Producer group buying activity continued
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    • 134 4 THE market held steady yesterday on operator support despite evidence of sellers, dealers said. Trading was quiet with southern and northern region unchanged at MsBBs and $890 per tonne far May while the central region gained $5 to $885. June saw the northern region gaining $5 to $890
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  • ASIAN STOCKS
    • 525 4 TOKYO LIQUIDATION pressures overwhelmed a rally in early trading yesterday and paced the pre-holiday Tokyo stock market for another setback. Trading was slow. The 225-stock Dow Jones average, down for the third session in a row, wound up the week at 6,722.00 yen for a
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    • 324 4 PROFIT-TAKING pushed the index down 11.35 points yesterday morning, acting upon the rumour that the EBA would not lower prime today. The market seemed to have steadied somewhat in the afternoon and prices closed two or three spreads down. Trading was relatively thin, as compared to activities of the
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    • 374 4 STOCKS prices closed mixed yesterday, dealers said. Woodside Petroleum lost A3 cents to $2.72, Santas 10 to |10, Southern Pacific $1 to 118, Central Norseman 20 cents to )6.10 and Allied Five to HO. However, Bridge Oil gained 10 to $3.65, Cra six to $5.16 and Utah 10 to
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    • 261 4 STOCKS closed mixed yesterday, dealers said. First Trust rose one baht to 79, Mah Boonkrong Drying and Silo two to 202, Capital Trust two to 59, while Bangkok Bank was unchanged at 290 and Rama Tower lost one to 77.50 baht. MAY 16 Bah u Asia Credit 134 1
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    • 168 4 STOCKS closed generally firmer yesterday as turnover rose to six million pesos from Thursday's 3.9 million, dealers said. Acoie Mining, Baguio Gold, Philex B, Oriental B, Podco B, Seafront, BF Goodrich, PLOT and San Miguel B rose while Pogei was the only loser. Atlas Con B, Lepanto B, Basic
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    • 52 4 FINANCIAL TIMES INDUSTRIALS Thursday 437.8 Wednesday 440.0 Week Ago 4*7 DOW JONE8 AVERAGE INDUSTRIALS Thursday «22 S3 Wednesday 810.82 Week Ago 815.IS H.K.HAN G SENG Friday 900.29 Thursday 910.84 Week Ago 883.85 SYDNEY INDUSTRIALS Friday 631.75 Thursday 830.59 Week Ago 810.48 ALL ORDINARIES Friday 830.09 Thursday 818.75 Week
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    • 59 4 TOYOTA Motor Company, the biggest car-maker in Japan, has formally submitted its proposal to the Nationalist Chinese government for the production at fuel-efficient compact cars in a US$4lB million Joint venutre project in Taiwan. Mr GTsuji, managing director of Toyota, presented his company's proposal to Vice Economic
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  • Page 4 Advertisements
    • 121 4 CONTENTS Road Safety and You Road Accidents: Taking Cover Insurance: Look at the Fine Print Staying in Shape for Driving Bikes: Functional and Fun PARF: How It Works Buying a Used Car: Beware of Bargains When and How to Sell Your Car Looking After Your Car Checks Before Driving Breakdowns:
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  • OVERSEAS
    • 269 5 THE US Secretary of State Edmund Muskie reopened a US dialogue with the Soviet Union yesterday after a five-month freeze because of Soviet actions in Afghanistan. American officials in Vienna said no drastic results were awaited from Mr Muskie's meeting with Soviet Foreign Minister
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    • 225 5 IRANIAN leaders have miked the European Community to halt, or defer, the imposition of sanctions, saying they are working hard to resolve the crisis over the 53 American hostages. British authorities, disclosing this on Thursday, said as a consequence foreign ministers of the
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    • 105 5 Reuter TIB STATE-OWNED Brit tab Leylaad Mater Carpsrattaa made a Isas £18 ■mi— I—l ywr. Ckalraua 9r Mlehael E4wrtM, whe hrtrsdamd recovery blm f»r the flMfHj, which la Ike put hM mm ilinil w y» trial tfssatea, tald the amal BMeoag la
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    • 94 5 APP FOREIGN lilmui, katk Masliaa Ml M—ltni ■ay eaattoae I» ektala fins to wark la Baai AnHa» deaptto raperto to the aaatoaty, toeSaa# eaajtoawy torty. n ""Taanri yeaAa eaakassy ifilfiß Mii faretga wrtw were ■till mleoM piwM>< ttqr met the aermal reqalreaad a
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    • 729 5 ARRIVALS Service Local Operator Namber Time From MAS MHfiOl 0700 KUL FT FT75 ono JFK/ORD/ANC/1 SIA/BA SQ/BA17 0600 LHR/BAH SIA SQ101 0815 KUL MAS MH621 0835 PEN MAS MH671 0930 PEN/KUL SIA SQ211 1000 HLP CAL CB14 1000 HLP CPA CX710 1006 HLP SIA SQ103 1015 KUL
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    • 567 5 ISRAELI officials reacted with anrpriae and uncertainty to Egypt's decision to call off the autonomy talks, but they retrained from issuing any formal government statement until they could study the Egyptian position. Israel radio reported with anger tint Israel's ambassador in Cairo, Mr EMaka
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    • WORLD IN BRIEF
      • 518 5 A BRAZILIAN scientist said he has disproved Einstein's famous theory of relativity. Cesar Lattes, a physics professor at the University of Campinas in southern Brazil, said that after 10 years of experiments he has proved that light does not travel at the same speed in all directions. This
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  • Page 5 Advertisements
    • 782 5 On the occasion of the 150 th Anniversary of Simon Bolivar THE GOVERNMENT OF PANAMA ANNOUNCES The 1980 Coinage of Panama m s**** 5 rfe S 1 c N B I'* ij -7 > < -p. <3 s£> i 1 oo oo O vS o > %> S5 rf j
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  • 270 6 IT IS somewhat distressing to learn that the plastics industry has yet to graduate much beyond the bucket and breadbox stage. DeSite the impressive figures a turnover of 90 million, ISO-odd companies and 8,000 workers the returns are pathetically meagre. The survey carried out by the
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  • 287 6 AT THE rate that shopping complexes, those plentifully stocked playgrounds of modern affluent Singaporeans, have burgeoned in recent years and the promise, if anything, of an even faster pace of development over the next few years, Orchard Road will soon be nothing more than
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  • 1182 6  -  THE IRISH CONNECTION In Ireland, politics is almost a family business. Leaving aside the Matia jokes, it is a fact that in the Irish Parliament one member in six is a son or daughter of a deputy past or present. And other family connections are legion.
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  • 736 6  -  (FORUM i with MARGARET THOMAS THE BOARD of Commissioners of Currency, Singapore, fondly referred to among friends and neighbours by its initials BCCS, resides In Impressively modern quarters in the CPF Building at Robinson Road. Sub-machinegun-toting Gurkhas, alert and unaccommodating in their
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  • Page 6 Advertisements
    • 165 6 Wendy Hutton's [four LjLLLJSINGAPORE ....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 fascinatinf and relevant information about Sinfaporean infredtents and cooking methods. Singapore Food is unique because it puts Singapore's famed cuisine
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  • Page 6 Miscellaneous
    • 1307 6 TsV?£IRM)TO Carol Burnett movie FANS OP Ike uln tuny Caret Baraett the ehaaee te eee faveartte rißn<Mii eattrety new light i Mty flrtk gtrntu get faunily aad Pikeii straight toe te 1,1 star la teaight's mevte. by the US amy This pewerfal drama, mm. we with ieflatte peet-Vlet- nre —aa
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  • 1871 7  -  CHIEF MINISTER'S DRIVING AMBITION The tiny offshore island of Labuan has many things in common with Singapore but it is the future that stirs the imagination of Sabah's Chief Minister, Datuk Harris Salleh, one of the prime movers behind several of the biggest industrial
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  • 792 7 Reuter AQUACULTURE, or the raising and harvesting of fish on (arms, is being hailed by experts in Thailand as a major solution to the growing need for protein among Asia's increasing numbers of undernourished small farmers. While the raising of fish in
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  • 174 7 Letter to the Editor Dear», My letter to you regarding the Defects of Commercial Property Rules, 1979, was published in your paper on April 29, 1960, under the pseudonym of "INTERESTED". On May 9,1980, you published another letter regarding the Registry
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  • Page 7 Advertisements
    • 128 7 n* Langkawi Country Chib, Malaysia... set in the midst erf 99 tropical islands. Langkawi. Isolated. Serene. Beautiful. With warm seas washing the shores a shade of turqoise blue. A place to relax and dream. And with it, the amenities of the Langkawi Country Club. Managed by the Tourist Development Corporation
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  • Page 7 Miscellaneous
    • 58 7 BriStoW: Frank: Ih :kenS 60N»HG. vexocrr sneaking —J H foR MP<NDSOme. FOR GNePGeXiC U) Fofc U)ITTV I F6<? T TRusru)OßTnv T Fofc "TRUEMTeD ss M S HO,NO...M€U>ITT V4-e-U3- -T-T... *£F ORD6R 43b«2 FB? NOT P»GeON vm I PvFßftO- VOU tJFV4T I mR. 6RISTOUJ J frO.NO, MCtf eSSuSTG* > I'egiStDuo ft<-I
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  • INTERNATIONAL STOCKS
    • 1227 8 NEW YORK TAKEOVER and drug stocks dominated the action as the New York stock market on Thursday extended Its recent gains in active trading. Profittaking trimmed the gains late in the day. Analysts odd the spate of corporate takeovers generated a lot of specu-
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    • 18 8 AMSTERDAM, Parla, Ftaakfirt, Zurich, Pi sss<ils and Johannesburg markets were eissel sa Th araday far AniMtn Pay.
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    • 102 8 MAY IS Ante Assoc Gen Lire ***** -0 25 310 *10 124 *7 0.2! -0.5 30 Bastofi Central* rut MO ana 1WS Kinslder G*n Immob IFI Pli Ilalcemenu 73.50 S8J0 229# ***** I taigas 820 IialsKter 315.50 unch Magnrt) M PI 585 10 Murrlli Ere 338 4 Med too
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    • 205 8 MAY IS CS Abiubi ll'j Alcan 28 Alfoma 28 Bank Mont 25 1 Bank Nova Scoua 28 Bell Tel 20 Beth Corp BP Can Lid ZZ 3#'J 'j Bra&can 14'.. unch Camp Red Lake 37 unch Can Imp Bk 25 Canpac 37'. Canpac Inv Pf Car ling O'Keefe ZZ
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  • Page 8 Advertisements
    • 206 8 Where to wine, dine and entertain Saturdays, Sundays Eves of Holidays On these days, you pay less to come on our package special. »p>n>rti) tod pubWc a. Mafca tha moat <* maaa poctoua Hay at our hcll*» wort You gal Dad. bililwl. hmclt gma H t»a I to pay tor
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    • 139 8 1 i For sushi. For teppanvaki. For other authentically Japanese delights. Open daily: 12 noon 3 p.m. 6.30 p. m 1().30p m For reservations call 731^(^77 A V s <"l 111 ll*\ I'} Ilk *"->1 M -I'llK II I ***i I >I^,llJ M I■ HUGO'S m BUSINESS LUNCH Hors d'oeuvres
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    • 177 8 i; *1 Din eat VA ft i -»i K:.i Miff Dragon Palace I I.IVC tl II >V <»l Ic.isl I )f w C <intoncsf> d»'lit <u M's <t memorable experience. Quit" k I li i[ii| Kniitj I iin Sum Lunch av <iil,»l>le d.iilv T 4 (Corkpil Tftotrl < .ill .losrpllllic
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    • 182 8 Noodles, mien or mee? It's tin' same. No matter what you call it. The difference is the way our chefs serve up to you. Whether it's fried, dry. or in a soup. Whether it's I lokkien-stylc. ('antonese-style. or local-style. You'll like the way we have u ith noodles. mien and
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    • 197 8 See Page 4 for Tokyo stocks Ml •*.ll 'c "l >r» J7 ODLTLL) r m T- 4 os\ Simil liint*. IU 1.1 i Hi; X 4 7 Ronnie CTrio Robin's Tavern. The place to go. after work. To relax, and to enjoy your favourite drink. In a cosy, soothing atmosphere
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  • BANKING AND FINANCE
    • 190 9 Reuter BRITISH Prime Minister Margaret Thatcher told Parliament that while UK bank lending is so high domestic interest rates cannot come down. Money supply data for the month to mid-April showed bank lending to the UK private sector up by £1.55 billion, formally adjusted, compared
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    • 88 9 Reuter COMMODITY Exchange Inc cut its original requirements on gold, silver and copper futures, effective yesterday. Speculative margins on gold futures were lowered to US$4,OOO a contract from $5,000, while hedge margin» were cut to $2,500 from $3,000. Minimum margin requirements for silver hedges were cut to
      Reuter  -  88 words
    • 492 9 Agencies THE Cimiiwriil Buk af Ktnt has awarded a mandate to Bank of America and Lloyds Bank International to lead manage Jointly a US$5O million Euroloan. Banking sources in Seoul said the borrowing will carry a spread of 0.75 per cent over London Interbank Offered Rate (Libor)
      Agencies  -  492 words
    • MONEY AND EXCHANGES
      • 511 9 YESTERDAY'S foreign exchange market was relatively quiet and featureless until news of the ousting of the Japanese Cabinet seeped in towards the end of the day. Against the Singapore dollar, the US currency remained at 552.1630/50 throughout the day. Trading was generally thin and sparse. Little business was
        511 words
      • 252 9 IN THE Singapore gold markey yesterday, gold futures closed generally easier in light trading following lower overseas gold prices, dealers said. Total sales for the day was recorded at 85 lots and kerb volume at 12 lots. August closed easier at U*****.70/529.50 an ounce against $530.10/531.00 on Thursday, October
        252 words
      • 56 9 THE following are the Australian and New Zealand exchanges opening quotes for yesterday: Australian exchanges: U551.1321/1.1273 Stg 0.4957/0.4901 90 day air mail buying rates Stg 0.5220, US$l.lBl4 90 day fwd buying rates 0.5018 Stg 1.1278 NZ exchanges: Reserve bank midrate U550.9762 Trading bank indications U550.9812, 0.9712 Stg 0.4281,
        56 words
      • 174 9 ASIAN ASIAN currency deposit interbank rates as at close on May 16: USMtei^ot) 7 days 9 15/16 013/10 1 month 11 v* li 2 months 11 10% 3months 117/16 US/16 6months 117/16 US/16 9 months 11 S/16 113/16 12 monthsllM UVi 8w.Fr*. Dm. 1 month 3 months S months 12
        174 words
      • 43 9 i ed by discount hoy— on May 16: Overnight: 7V. 75/16% Call deposits: «V, 1V*% Closisf MW 3-month Treasury bills 7 5/16 73/16 3 month Bank bills 11V. im 3 months CD 10 10'* 8 months CD 10 Source: National Discount Co
        43 words
      • 22 9 THE average rate ai which major Singapore bank* are currently prepared to lend to their best customers is 12.2 per cent.
        22 words
      • 175 9 THE U.S. dollar closed quietly steady yesterday against major currencies after trading narrowly in subdued end-week trading, dealers said. The dollar closed at 1.7925/35 marks after an early 1.7930/35 and 1.7935/45 in New York and at 1.6645/ 55 Swiss francs against 1.6640/50 and 1.6625/85. Sterling finished at U552.2920/30 compared
        175 words
      • 258 9 THE U.S. dollar opened firm as Eurodollar deposit rates rose by as much as half a point yesterday, dealers said. The dollar opened at 1.7965/75 marks and then firmed to 1.8000/8010 compared with a Hongkong close of 1.7925/35 and a New York close of 1.7935/45. There were no clear
        258 words
      • 51 9 RESULTS of tender held on May 16 (or 91-day Treasury bills issued from May 19 to May 23. Offend: 180,000,000 Appfled tor: $218,500,000 ADrttod: 180,000,000 Accepted Mds: 188.20 and approximately 94 per cent higher bids in full. Avenge rate et dnat ea illitaiel 7.210 per cent per
        51 words
      • 139 9 THE U.S. dollar for overnight delivery closed slightly weaker at 227.40 yen yesterday, compared with a 228.00 opening and 227.50 at Thursday's close, dealers said. Trading was moderate but nervous with volume US$7Ol million. The dollar fluctuated between 227.25 and 227.55 yen in quiet late trading after a nervous
        139 words
    • 144 9 ONE OF the Union Bank of Switzerland's key executives, Mr Ma this Cabiallavetta, will be in Singapore for a short stay next week. Apart from calling on the Monetary Authority of Singapore, the Currency Board and several of the major foreign exchange and money brokers here, Mr
      144 words
    • 345 9 THE SWISS franc can be expected to continue firm against the US dollar and the deustchemark in the near term, said the latest Manufacturers Hanover Trust's (MHT) currency review. Contributing factors include the favourable economic performance and the Swiss authorities' stated intention of maintaining a
      345 words
    • 324 9 Reuter A RESOLUTION to commission a study of the Eurobond market was to be put to the annual meeting of the Association of International Bond Dealers (AIBD) yesterday. AIBD conference sources said the resolution, which will be proposed by the Nordic region, arises from concern over
      Reuter  -  324 words
    • 414 9 Reuter IN DETERMINING that the yen will no longer suffer depreciation, the Japanese Finance Ministry has decided to check the heavy inflow of foreign funds into the country, financial officials said yesterday. Triggered by steadily declining US interest rates, overseas funds made
      Reuter  -  414 words
    • 551 9 AP CHINA will take over Taiwan's seat in the World Bank, the bank announced on Thursday, completing the ouster of Taiwan as China's representative in major international organisations. Membership in the 134nation World Bank will create the potential (or China to receive many millions of dollars,
      AP  -  551 words
  • Page 9 Advertisements
    • 262 9 I I TTfTT? nTiTTHhUi 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 demand of this
      262 words

  • 1473 10 BID aad offer prices officially listed aad hiisint— ia aad reM&d to the Stock Exchange orsbgapore yesterday with the number at riiares traded sbqpti ia brackets la lota of 1.(90 units, unless otherwise a specified j SECTION ONE J INDUSTRIAL COMMERCIAL Ash
    1,473 words
  • 145 10 The Commerc The Savtaga 1 ruad "MIM IM (MnuiW frtaaa Mr May H A It) Uuk» Spare Find AM LM S port Prof F ted U9 La DNMIB BOND UNIT S pare Sac. Fi und LM LM S pore Iavaat Fund 1-56 1.M Income Bond LM LS S
    145 words
  • 2752 10 r riifk 060 Low Coapuy 11 Gr'» Div DW Crr Gr*a YTd Net P/K Vol (•000) Day Higk Low •«> SECTION ONE ♦yr INDUSTRIAL COMMERCIAL 1 so 3 Mfe» 249 220 116 140 270 60 275 328 187 206 Ac ma Alcorn Allied Choc BAT Bata Ban
    2,752 words
  • 1568 10 BID and offer price* <rfHr4«ny listed and twMnew in aad reported tO the gn,l I Jtmpnr Stock Exchange yesterday with the number at Miares traded rimrn In brackets In lots at 1,000 units, unless othermi i,in i wise specified. 4mm (UB) cd AIM (UB 1306) (1) lis
    1,568 words
  • 27 10 INDUSTRIAL 6 CtBBer elal Bask Ltd: AGM to be held at ICB Penthouse, ICB Building, 7th Floor, 2 Shenton Way, Singapore, at 12 noon today.
    27 words
  • 637 10 THE iMg-eqeeM eerreetlea iiemi to tove finally CMght aa with the Hagaptft stock market yesterday aa sellers exerted mare preesare sa Aere prime. Quality Inn, totttolly dealt higher, aeea gave la to IaMII Isfclai Bat towrii the etoee, may coasters ■hewed rigu sf rectveiy
    637 words
  • 599 10 SHARE prices finished mildly easier in a day of diminished trading activity on the Kuala Lumpur stock market yesterday, after several sessions of steadiness. Light selling pressure was felt after a fairly steady opening, and prices retreated across a fairly broad front closing with marginal
    599 words

  • COMPANY NEWS
    • 349 11 BOLTON Properties Bhd has reported disappointing results but has spiced up the announcement with its pi»« to acquire the Campbell Complex in Kuala Lumrand two pieces of land Jalan Ampang. The company has also declared a one-for-two bonus issue. Bolton's announcement has long been
      349 words
    • 153 11 Reuter MALAYAWATA Steel of glial» Lumpur has won an appeal to the Privy Council in London for a payment from the Malaysian government of £21,618. The Yang di-Pertuan Agong will be advised that Malayawata's appeal should be allowed, with all costs and interest at 6 per
      Reuter  -  153 words
    • 1220 11  -  By TOH SU FEN THE Cold Storage group is examining new opportunities (or growth in the 1900s. Following improvements made in its various divisions and a strengthening o( its management during the year reviewed, Cold Storage is now in a position to expand further.
      1,220 words
    • 578 11 THE shares of 12 companies are currently on the suspension list of the stock exchange for a variety of reasons and for different periods ranging from a few months to as long as six years. For several of these companies, suspension
      578 words
    • 83 11 Dale a 3 CwnpMy Emu— P* H Veneer Products U 28-8-73 Folex Industries i 6-3-75 ml Hytex i 16-7-76' 0 Gula Perak ii 88-75 10.28 Vt IEE i 23-1-79 MA South Johore Amal i 1-12-75 m~ San Holdings ii 15-1-76 $0.30 Worldwide Holdings ii 18-10-76 Unilite iii 24-4-78
      83 words
    • 216 11 Date Lett Pall Year Cempaay w, J.| reriM but year Net EPS (eeate) Grew Dlv. Pre-tax Profit Apollo Ent F 6/3 7.4 7.5 4,353 A Choc F 17/4 9.7 3.0TE 2,413 Oriental Hldgs F 30/4 24.7 5.8a 19,888 Guinness I 4/5 39.9 30.0 25,484 GI Hldgs F 12/5
      216 words
    • 736 11 Patience will pay Samoa' HOCK LOCK SIEW "SELL in May and go away" is a popular saying in the London market at this time of the year when the summer doldrums traditionally set in. With the results season largely over, one would expect local investors to do the same, namely
      HOCK LOCK SIEW  -  736 words
  • Page 11 Advertisements
    • 346 11 The life Library Of Photography T The Life Library Of Photography Each volume measures 10*1* x 10 x l* 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 picture possibilities all around you...
      346 words

  • 578 12 UPI Reuter JAPANESE Prime Minister Masayoshi Ohira suffered a surprise defeat at the hands of the Socialist Party in Parliament yesterday and is forced to either call a general election or resign. i Mr Ohira's pro-Ameri-can conservative government lost a vote of confidence in the
    UPI; Reuter  -  578 words
  • 241 12 AFP THAILAND and the Philippines have agreed that the time is ripe to have another summit meeting of the Association of South-east Asian Nations and said they would consult other Asean heads of state on the matter. The Thai-Philippine agreement was announced by visiting Thai Prime Minister
    AFP; Source: UPI photo  -  241 words
  • 381 12 SINGAPOREANS will be able to get their international passports within half an hour when the Immigration Department computerises its passport-issu-ing section by the middle of next year. The government is also actively studying the feasibility of introducing on-line screening of visitors at the Woodlands customs
    381 words
  • 773 12 LONDON, Frl. The market closed quietly mixed, dealers said. At 3pm, the FT index was down 0.7 at 437.1. April UK retail price index statistics were generally discounted but nervousness was noted ahead of the April trade figures. Government bands recouped early losses to clow up to 1/8
    773 words
  • 201 12 LEGAL action has been taken against the directors of Tech 4 Marine, the small shipyard which was forced to close down last June because of flnaprui difficulties. The company's banker, Temenggong Merchant Bankers, which has a first charge on all of Tech 4's fixed
    201 words
  • 91 12 ANOTHER local bank, Industrial and Commercial Bank, will lower its prime lending rate from the lofty 12 per cent to 11.75 per cent tram Monday. The savings deposit rate, however, will remain at 10 per cfnt while the onemonth fixed deposit rate will be reduced by 0.5
    91 words
  • 270 12 AP TO UNITED States VicePresident Walter Mondale, Senator Edward Kennedy's latest challenge for a campaign debate that classic American political confrontation amounts to "desperation" politics from a loser. To a top Kennedy aide, it was a "bold" move in which the senator offered to withdraw from the
    AP  -  270 words
  • Page 12 Advertisements
    • 542 12 'NEW ZEALAND GOVERNMENT MINISTRY OF WORKS AND DEVELOPMENT LINE PIPE FITTINGS FOR SALE BY TENDER' Tenders closing with the Stores Manager, Ministry of Works and Development, P O Box *****, Wellington North, at 4.00 pm on Monday 30 June 1980, are invited for the purchase of surplus Line Pipe Fittings
      542 words
    • 438 12 Businessmen, Are You Getting Your Share of the Billion Oil Industry? The South East Asia 01 Directory 1980-81 (Third edition) is the only professional reference work which brings together an encyclopedic volume of material to serve all sectors of the oil industry. It is the most comprehensive and in-depth coverage
      438 words
    • 0 12 _.;;^?+;*<"[]__]}~]~,}\}}<_%\{|
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  • Page 12 Miscellaneous
    • 210 12 MORNING and early afternoon thundery-showers can be expected over Singapore on 7 to 9 days for the rest of this month. These may be widespread on 3 to 4 days, says the meteorological service. The rainfall for the first 15 days of May was above average over the whole of
      210 words

  • LEISURE TIMES
    • 1012 13 LOOKING SWELL SEVEN-DAY HONEY DIET WEEKEID mgran IT IS THE purest food available. It is the elixir of life. It is a wonder cure. It is one of nature's marvels. Nutritionists regard honey as a powerhouse of energy. The ancient Oeeks
      1,012 words
    • 225 13 THE Nanyang Junior College will present three plays and four dance dramas on May 20 and 21, at 7.30pm, at the Victoria Theatre. May 20: Gift of the Monyet The Fooks entertain an unexpected guest, Cik Mariam. Bhasmasura Mohini (choreographed by Shantah Bhaskar) Bhasmasura, a
      225 words
    • 106 13 The complex world of Polynesian cosmology comes alive in the exhibition Tangata 111, The Maori Vision of Man through Brian Blake whose photographs highlight the special place a woodcarver holds in Maori culture. The woodcraver possesses not only the knowledge of tribal lore and legend,
      106 words
    • 109 13 SORRY, Madam (Sir), but we have no fresh asparagus today. How frequently have many of us been similarly disappointed at the restaurants and supermarkets. But, till the end of the month, you can have all the asparagus you have always longed for; you can
      109 words
    • 1269 14  -  By TSANG SAU YIN IN THE SECOND and third centuries AD, the Polynesian tribes who would populate the Hawaiian islands, set out in their 100-foot outriggers, probably from Tahiti, a and paddled miles of lonely Pacific Ocean till they beached on the sands of
      1,269 words
    • 680 14 NYT A CONTROVERSY over the use of Pablo Picasso's signature has led to the removal from sale of a number of products, including shopping bags and tee-shirts. They were being marketed in connection with the Picasso exhibition that opened in Minneapolis recently and will travel
      NYT  -  680 words
    • 1272 14 ■OTOBIie Hermes COUPE bodied cars were built to have a certain charisma in them. They are obviously built to appeal to the younger set, to those who are willing to put practicality and utility aside for the more visual aspect of style and
      Hermes  -  1,272 words
    • 214 15 DESTINATION IThe trouble with paradise is that it is sprinkled over the Pacific. However, travel agency, Pacific Leisure which also I represents Hawaiian H Air, will put together E a seven-day package for holidaymakers that should I solve some of the travel and accommodation nitty H grittys if
      214 words
    • Article, Illustration
      988 15  -  .Will the average respectable Thai women today dare walk alone in the streets of Bangkok or be seen in a hotel lobby with a foreign male companion, without running the risk of being mistaken for a lady of easy virtue? Such is the toll the tourist trade has
      988 words
    • 882 16 Runners riders and form guide for the Queen Elizabeth n Cup to be run at Bukit Timah on Sunday. Thirteen horses will contest the 2,200 m race, with a purse of $35,000 to the winner. Figures in brackets after the horse's name represents the barrier number
      882 words
    • 934 16  -  Last Sunday's nap, Filipachi, obliged Ijke a real 'good un' and paid a handsome $88 for the win and $29 the place. Hyperion also tipped Gertak Merah (a $51 and $14 winner). Overall selections by the maestro showed a comfortable profit over the
      934 words
    • 352 16 GOLF: THE Keppel Open Championship 1980 will be held this weekend at Bukit Chennin. The championship starts with the *C division golfers today. The 'A' and 'B' divisions will compete tomorrow. At the Singapore Island Country Club this afternoon is the first round of the Club Championship
      352 words
    • 162 16 UPI GENUINE Risk, the first filly to win the Kentucky Derby in 65 years, drew post position number five and was established the 9-5 favourite over Codex as a field erf eight was drawn for today's US|2OO,OOO added Preakness at Pimlico. Codex, winner of the Aanta Anita
      UPI  -  162 words
    • 875 16  -  mm By RONALD KOW WHAT MIRACLES can the Young Lions come up with when they meet Brunei, the only other national side in the Malaysia Cup soccer tournament, at the National Stadium tonight (kickoff 7.30pm.)? If you find yourself asking this question, you
      875 words
  • Page 13 Advertisements
    • 61 13 A helping hand when you need it most "i' "i' "dd- OSiCIDa Holiday in Hawaii... 11, 111, cantraapraad Thailand whara thay go all out for tha tourist d011ar.... 11, 111, cantraapraad Calica Coupa maintaina ita striking appaaranca.... 11, 111, Cantraapraad Hyparion picks tomorrow's Quaan Elizabeth Cup winnar ..............IV You can
      61 words
    • 21 13 RICOH Plain paper copiers Preferred by offices worldwide CALL *****5. Wywy Private Limited Wywy House, 17 Leng km Road, Singapore 0315
      21 words
  • Page 13 Miscellaneous
    • 834 13 WHAT&WHERE RECITALS LAST two days to hear the second Festival «f Chain at the Victoria Theatre. The show, started last Saturday, is presented by The Ministry of Culture. Tickets, at $2 and H, are available at Victoria Theatre, C K Tang, Cold Storage, Popular Company and Yahama Music School (Plaza
      834 words

  • Page 14 Advertisements
    • 70 14 T:Vit has b® en »k« Spa° cootrove t^e re t>eC t s 0 f tfca CWW>N® T Rebate ab° po h re i\ect and or«« *<<*£%.,» tM ",v *< isz+zzfr"* 0 u9e i tnurd® r noou\^° ns Indonesia counttv (Cons wn tKX» >d „«ju»i p .„pp\o«." 0 its tutute -ntS#
      70 words

  • Page 15 Advertisements
    • 69 15 V indispensable reference books businessman Bi comprehensive information on companies' profile, including management personnel details. 0& J T»' or V At pO nfa> M 51^ M *S> 4** 9l q M «|H introduction to people who matter in business and government. Robinson's Bookshop The most authoritative > j compilation on
      69 words

  • Page 16 Advertisements
    • 340 16 How much do you see when you look at this etching': wui i ni<>rn♦ iit. thru win; T»r Warn Umtmm 1* Art. St Yor*. k.W Vr. j The Time Life Library Of Art 600/ c measures 9 x 12 inches (23 x 31 cm). Hard cover, ivith 18$ pages. More
      340 words