The Business Times, 7 June 1980

Total Pages: 14
1 14 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 111/1/8* SATURDAY, JUNE 7,1981 50 CENTS
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  • BRIEFLY...
    • 82 1 Reuter TOKYO, Fri. Japan decided at the cabinet meeting to accept the International Natural Rubber Agreement, following parliamentary approval last month to ratify the pact signed last March, the Foreign Ministry announced. The agreement aims for stabilisation of natural rubber prices and supplies to give a necessary
      Reuter  -  82 words
    • 72 1 Reuter MANILA, Fri. Police said they believed they had smashed the Philippines operations of a Hongkong-based gang which manufactured and smuggled fake medicines. A 30-year-old Hongkong businessman and six Filipino drugstore owners had been arrested, atlhough no charges had yet been brought against them. The Association of Philippines
      Reuter  -  72 words
    • 60 1 Reuter NEW DELHI, Fri. Pressure mounted on Indian Premier Indira Gandhi to make her 33-year-old son Sanjay chief minister of the key northern state of Uttar Pradesh. Legislators of the ruling Congress (I) Party in the state unanimously elected Mr Gandhi as leader despite an announcement from
      Reuter  -  60 words
    • 82 1 AP WASHINGTON, Fri. The US unemployment rate shot up to 7.8 per cent in May, the highest in 3'/2 years, while inflation at the wholesale price level continued to cool significantly, the government said. The Labour Department said 1.7 million Americans were added to jobless rolls
      AP  -  82 words
    • 62 1 AFP JAKARTA, Fri. The Indonesian government is investigating how the Singapore packaging company, Ngai Mee, could operate in Indonesia while no new permits had been given to foreign packaging companies, a spokesman for the Industry Ministry said. Industry Minister A R Suhud was surprised to learn that the company
      AFP  -  62 words
    • 46 1 Reuter TOKYO, Fri. Japan's Ministry of International Trade and Industry (Miti) has advised major exporting companies to exercise voluntary restraint in their dealings with Common Market countries after trade statistics showed that Japanese exports to Western Europe are rising sharply, informed sources said. Reuter
      Reuter  -  46 words
    • 57 1 AP NEW YORK, Fri. The stock market was mixed this morning as traders studied the latest statistics on inflation and unemployment. Half-an-hour after the opening, the Dow Jones average of 30 industrials stood at 858.70 points, unchanged from yesterday's close. Losers held a slight lead over gainers among
      AP  -  57 words
  • 129 1 Rises Indices Magnum Corpn 990 144 Jun 5 Jun 6 C Sugars 635 85 B.T.Indicator: 5250.23 5255.89 PMC 770 70 Industrials: 522.21 528.31 Tractors Spore Glass Shell 850 332 470 50 47 34 Finance: Hotels: 921.60 920.67 464.57 467.92 Sel Properties 925 30 Properties: 397.79 405.47 Tan
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  • Article, Illustration
    148 1 Rises Indices Magnum Corp 990 PMC 790 C Sugars 640 Sel Prop 940 Castlefield 2300 Tractors 865 S'pore Glass 322 PMRI 450 M Cement 600 Carlsberg 620 Keck Seng 430 Falls Rothmans 505 B Lintang 384 137 80 70 60 50 35 34 34 30 30 28 20
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  • 631 1  -  GETTING DEALERS TO FLOOR By RUTH CHENG DEALER members of the Gold Exchange of Singapore are urged to be present on the floor of the exchange so as to help stimulate the market. The proposal comes on the heels of the amendment last month of
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  • 266 1 GOLD broke the US$6OO an ounce barrier to reach US$6O7 an ounce in London yesterday afternoon after a morning fix of US$59B. Dealers said the metal was already in demand in early trading, owing to Middle East tension, violence in South Africa and fears of
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  • 477 1 THE Singapore Minister for Finance, Mr Hon Sui Sen, yesterday suggested that the world monetary authorities should re-exam-ine the various monetary tools considered essential in their economic strategies. Monetarism alone is not enough, said Mr Hon at the opening of the Association Cambiste Internationale's two-day conference
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  • 342 1 THE chairman of Dunlop Holdings, the giant tyre, industrial and consumer products manufacturer, has confirmed that Far Eastern buying of Dunlop shares has been evident recently. In an interview with the Malaysian Business Times, Sir Campbell Fraser identified these buyers as coming from Malaysia, Singapore
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  • 224 1 THE DIRECTOR of the Institute of ud H—» (IBF), Mr Tu Chna Tee (above), ku tendered his resignation ud is due to leave the Institute smb. Mr Tu, 41, ku been the Institute's director since It wns set np In 1915. He started his professtoanl
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  • 425 1  -  By LEE YOKE MENG MANUFACTURING and financial services, two strong pillars in the Hongkong economy, will take on broader dimensions in the *****, with China providing an added impetus to its growth. This picture of Hongkong in the decade ahead was painted by the colony's
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  • Page 1 Advertisements
    • 4 1 f1 i 1111' ill
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    • 51 1 Meadows jfir Leader in Freight Forwarding Worldwide by air. land. sea. WE'VE I J, [m\H 3 Li'i'l -'■J From June 2,1980 MEADOWS FREIGHT (ASIA) PTE LTD will be 3 floors lower at: Crosby House Room 3A, 3rd Floor 71 Robinson Road Singapore 0106. Telephone Number *****71.(5 lines) jO7 Group of
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    • 59 1 Leader...Page I COMMODITY fond talks enter GOLD C«ii firmly on expansion final r0und................................ 5 tmll 11 SUCCESS OF Guinness nndenl- SHELL raises pump prices ab1e.......................................... I frsm today 12 VOLCKER rules sut new infla- AGREEMENT on rubber shlptlon&ry pre55ure5...................... t meats extended......................... 12 AIRCRAFT 5, TV AND RADIO I, CROSSWORD
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    • 78 1 A helping hand when you need it most l Mayfoong Mortgage And Finance (S) Lid. I Ground floor. Shaw House Singapore 0923 Tel *****77 5 CALVET Well renowned French wine Only for those who know about wine. Btaujolais from Calvet. A rich red wine thai is impeccably mellow. And a
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  • TRADE AND INDUSTRY
    • 410 2  -  By AGNES WEE THE Singapore Government welcomes the infusion of German technology and will encourage joint ventures with the local engineering industry to enable them to improve their skills and compete effectively for international contracts. This was expressed by the Member of Parliament for Mountbatten,
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    • 363 2 TWO local banks have been quick to take advantage of Lloyds Bank's expertise in installing and managing an extensive automated teller machine (ATM) network. The Development Bank of Singapore (DBS) and the Post Office Savings Bank (POSB) invited Mr John Phimester, manager, organisation and methods,
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    • 184 2 ADLER is launching its new SE 2000 text-editing machine this month. The company claims that this machine can cut down a secretary's work to the extent that she can serve up to three bosses. The machine boasts such features as text correction, rearrangement of format and automatic repeat
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    • 132 2 THE National Productivity Association (NPA) is organising a luncheon talk on "Skills Development Fund its uses and how companies can apply for assistance" at the Mandarin Hotel, on Tuesday, June 17, 1980 at 12.30pm. The speaker is Mr Ong Wee Hock, divisional director
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    • 468 2  -  By TOH SU FEN FRENCH-based Chanel has appointed Eurocreations (Pte) Ltd as sole agent for its range of Chanel perfume and cosmetics. The company which has an authorised capital of $100,000 and a paid-up capital of $25,000 began operations on June 1. Headed by manager,
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    • 292 2 MALAYSIAN Deputy Prime Minister has urged the country's private sector to venture more aggressively into the manufacture of marine equipment to feed the Malaysian and regional shipping industry. Datuk Seri Dr Mahathir Mohamad said that ready availability of such equipment and expertise would help
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    • 237 2 A FRENCH delegation of scientists industrialists of agro industries is in Singapore to promote trade and exchange information. The team, which arrived here from Jakarta on Thursday. is led by Mr Bichat, the president of AGIA. It hopes to identify areas in agriculture and agro
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    • 455 2 SEMINARS AND COURSES June 11-12: Making Effective Presentations, Hilton Hotel, Consulasia June 12-13: Finance for Nonfinancial Managers, ShangriLa Hotel, Price Waterhouse June 13-16: Ultrasonic Plastic Welding, Suite 5264 Woh Hup Complex, Mechanical and Combustion Engineering June 18-20: Tactics Techniques for Effective Supervision, SIM Conference Room, SIM June 18-20:
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    • 150 2 JARDINES Marketing Service» has acquired the agency for the Texwood range of jeans aad with this comee Texwood's latest Jeaas Its stretch dealms (phata right). This latest raage of Texwood Jeans was launched at the Apple Night held earlier this week at a laeal clah. The company
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    • 366 2 PANDAIR Freight Ltd, one of the UK's largest air freight forwarder, will introduce a new range of fully defined airfreight services from the UK to Singapore and Malaysia this Monday. On these routes, shippers and importers will be provided with a choice of easily
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  • Page 2 Advertisements
    • 93 2 TUB ff't y h 5001 s fna,, The Boat pe |C uncertain fr PEOPLE:' THE BOA (statist" 9 Wag e the mada „,o^ A 'toCoV IA reasons the B on dua> coun"V ac fcong -intention* "ind ,v,( p h .»PP ines ,„<■ its*o w e S-n^'f'^ernatioM''" 1898 V *V* or
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  • REGIONAL
    • 444 3 Reuter INDONESIA'S state-owned Pertamina oil company and several foreign oil companies have begun laying plans that could lead to the construction of a liquefied natural gas plant in the Natuna Islands costing several billions of dollars. An industry source said realisation is still five to
      Reuter  -  444 words
    • 552 3 Reuter SENIOR Vice-Premier Deng Xiaoping on Thursday expressed China's satisfaction at the tilt by the United States away from Moscow towards Beijing. He welcomed a reported statement in Washington by assistant Secretary of State Richard Holbrooke that the US is no longer following an
      Reuter  -  552 words
    • 193 3 AFP EXTREMIST groups have been stepping up anti-government activities in Jakarta, Antara news agency reported on Thursday. Political feelings in the city are running high with increasing rumours accusing the government of having failed to carry its economic policies, the agency quoted Jakarta military command sources
      AFP  -  193 words
    • 540 3 EXPECTED ARRIVALS TODAY KEPPEL WHARV ES Bum Ah (Tanker) (1200 P 0, subject gas free) 15 Builder (0700 after Sirdhana Fortune, subject free board) 23 Car Liner No 2 (ro ro) (after Prince Maru No 8) 45 Dong Yun (after Blue Matsuyama) 38 39 Gerbera (Ro Ro)
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    • 270 3 UPI THE trade deficit of the Philippines from January to April this year shot up by 45 per cent from U*****.49 million to $885.62 million, the Central Bank of the Philippines said on Thursday. Exports chalked a 52.3 per cent gain to $1.57 billion
      UPI  -  270 words
    • 358 3 Reuter AN AIDE to Japanese Prime Minister Masayoshi Ohira has denied a newspaper report that he had suffered a serious heart attack which could force him out of active politics for some time. The aide, Mr Hajime Morita, said the front-page report in
      Reuter  -  358 words
    • 173 3 AFP SEVERAL developed countries still practising trade protectionism will be asked to relax various restrictions and taxes on commodities exported by the Association of South-east Asian Nations (Asean). The call will be made when the Foreign Ministers of the five Asean countries meet
      AFP  -  173 words
    • THE REGION IN BRIEF
      • 430 3 Agencies FILIPINO opposition parties have agreed to form a coalition against President Marcos' martial law regime. The office of the opposition Nacionalista Party said the aim of the coalition is "to terminate martial rule and restore the democratic system" in the country. THAI Foreign Minister Sithi
        Agencies  -  430 words
  • Page 3 Advertisements
    • 79 3 yj§ig| V V t' I Bp. jfegpyj Come hear it, feef it's rhythmn go from hi-fi/stereo equipment to the world of Television Video, ali on display at lour fine showroom. the y •i M A Su t i v < J 4 1 1 VI -M' .Wj VJh r> i
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  • RAW MATERIALS
    • 281 4 THE review of the Malaysian and Singapore rubber markets by HstMay, Catler ud Bath said erratic but overall steadier conditions were experienced. Levels seesawed between the 280-290 cent level, before closing 7 cents up. With local sellers hesitant at present prices and good shortcovering interests
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    • 334 4 SINGAPORE: Yesterday's closing prices in SJ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.05, 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-super 0.63, Special no stock.
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    • 322 4 IN Singapore, the market closed uncertain with June One RSS buyers quoted at 287.00 cents per kilo, up one cent from Thursday's close, dealers said. The morning market firmed 1.50 cents on upcountry and speculative buying together with some shortcovering, they said. The afternoon market was a shade lower
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    • 290 4 R.A.S. prices In cents per kUo yesterday: Noon (per kilo) Buyers Sellers Int 1 R.S.S. prompt f o b. 285.00 286.00N Int. 1 R.S.S. June 287.50 28B.OO Int. 1 R.S.S. July 289.50 290.00 Int. 2 R.S.S. 281.50 282.50N UK/Cont 280.50 281.50N Int. 3 R.S.S. 278.50 279.50N UK/Cont 277.50
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    • 107 4 NOON SSR and SMR ptn ymt erdayRA8 Jue (Forward Bayer* S« (Cmrreat MUI Bayer* Sellers Mtk) iller* SSR 20 (1-ton pail*) 272.00 274.00N 274.00 276. OON SSR SO (1-ton pallet) 288 00 271.OON 271.00 273. OON MRELB J«lT Aifut SMR CV (1 -too pallet) 326.00 327.00N 325
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    • 74 4 THE Straits til price la Peiaig remalaed nachanged at Ms24?f pw pica], $31 abeve the Internatteaal Tla Agreemeat celling, dealers said. lie steadiness reflected renewed physical demand tram the US aad Eurape aad less tla metal sapplied by miaers, hat seattmeat was aet affected by a weaker Leaden
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    • 36 4 Rubber: June 6 Singapore: June: 287.00 cents (up 1.00 cent) Malaysia: July: 292.00 cents (down 0.50 cent) Tin: M 52,176 (unchanged) (equivaleat to $35.98 per kilo) (unchanged) Official offering: 163 tonnes (down 8544 tonnes)
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    • 193 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Cattaa yara: China Blue Phoenix 20s 2,200 32s 2.580, 40s 2,845 (per bale of 400 lbs). Piece gMds: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 175 4 CHINEBE Prsdaee Exchange, Nlagipwr, rl—lag prices per lMkg yesterday: Csesaat all: Bulk fob 1134.00 sellers, old drum (in second hand drum) fob $144.00 sellers, new drum fob $150.00 sellers. Cspra: Mixed (loose) 177.00 buyers. Pepper: Muntok white pepper fob Asta NLW $465.00 sellers, Sarawak white pepper faq fob
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    • 215 4 THE Chicago Board of Trade soybean futures closed US4 to IV* cents a bushel lower in revived trade on Thursday. Values finished around the middle ofa7V* cent range. Aggressive selling by the Professional House (who also sold heavy amounts of wheat and corn), prompted local liquidation, traders said. It
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    • 792 4 COFFEE: Robusta futures finished yesterday morning narrowly mixed £1 down to £3 per tonne up from Thursday, after opening £4 lower to unchanged. Turnover was 724 lots including five options. Dealers said values held steady around morning opening levels in quiet and basically routine trading that reflected mixed
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    • 122 4 IN Kuala Lumpur, the market was unchanged yesterday on further lack of buying interest, dealers said. In the quiet dealings, central and southern region traded unchanged at MsB7o per tonne while the northern also held at $875. In the south, July was traded at $872.50. The refined market
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  • ASIAN STOCKS
    • 640 4 TOKYO Source: DBS-Daiwa SPECULATIVE stocks recovered after hearing that the decision to exclude issues with a holding capital of less than than Y3 bil from margin stocks has been postponed till next year. Counters such as Japan Wool Textile, Rasa Industrial, Ishii Iron Works, Miyaji Iron
      Source: DBS-Daiwa  -  640 words
    • 284 4 Source: SHK See THE six point rise yesterday was mainly due to the continued bouyaney of Hang Seng Bank, as the rest of the market became stuck at the 30 resistance level. Selected stocks improved, with Hongkong Bank closing at 115, Swire Props 15 cents better at 5.85 and
      Source: SHK See  -  284 words
    • 335 4 STOCKS closed slightly easier yesterday after a week of hectic trading with oils down and mining shares mainly consolidated their earlier advances, dealers said. Market leader BHP added 15 cents to $14.70 while gold miners Central Noresman rose 10 to 19.00 and Emperor three to $2.08, but GMKalgoorlie lost
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    • 265 4 TRADING at the stock market remained inactive yesterday as prices closed mostly lower, dealers said. Industrial Finance Corp fell one baht to 113, First Trust 2.50 to 68, Jalaprathan Cement one to 107, and Rama Tower 0.50 to 72. Bangkok Bank and Siam Cement closed unchanged at 280 and
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    • 157 4 STOCKS closed easier yesterday with turnover falling to 2.5 million pesos from Thursday's 3.9 million, dealers said. Atlas Con B, Benguet Con B and Basic Petroleum fell while only San Miguel B firmed. Acoje Mining, Baguio Gold, Philex B, Oriental B, Phil Overseas, Podco B, Pogei, Pioneer, Seafront, BF
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    • 57 4 FINANCIAL TIMES INDUSTRIALS Thursday 423.4 Wednesday 423.0 Week Ago 417.8 DOW JONES AVERAGE INDUSTRIALS Thursday 858 70 Wednesday 858.02 Week Ago 846 25 H.K.HANG SENG Friday 831 78 Thursday 925 49 Week Ago 894 32 SYDNEY INDUSTRIALS Friday 857 98 Thursday- «58.84 Week Ago #51.96 ALL ORDINARIE8 Friday
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  • Page 4 Advertisements
    • 130 4 X *»v xs *41 NX s, *5 w S *V*"» *n:S •»N M tH flfe 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
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  • OVERSEAS
    • 449 5 UPI IN SHARP contrast to ever dwindling American car sales, the Japanese car share in the US market in May hit yet another record, raising fears of a fresh conflict between the two nations, unofficial industry data showed. Statistics compiled by
      UPI  -  449 words
    • 192 5 Reuter MR Ronald Reagan won a vital political victory in Palm Springs, California, when ex-President Gerald Ford declared on Thursday he would campaign wholeheartedly for the Republican presidential contender. It was a political truce, at least for the time being, worked out between
      Reuter  -  192 words
    • 164 5 Reuter SENATOR Edward Kennedy has said he will continue his battle for the Democratic presidential nomination. After meeting President Carter on Thursday, the Senator said he had challenged Mr Carter to a public debate. The President told reporters that he had argued with Mr Kennedy
      Reuter  -  164 words
    • 524 5 Reuter NEGOTIATIONS to set up a common fund which could generate up to US$6 billion to finance international commodity agreements have entered the final twoweek session. The talks, grouping about 100 countries in the UN Conference on Trade and Development (Unctad), are scheduled to
      Reuter  -  524 words
    • 251 5 Reuter IRAN'S share of contributions to the Opec fund for developing countries has been slashed from the original 25 per cent to about 7 per cent because of the country's present economic situation, according to the authoritative Middle East Economic Survey (Mees).
      Reuter  -  251 words
    • WORLD IN BRIEF
      • 556 5 Agencies INCREASED earnings from service industries such as banking, insurance and tourism, improved Britain's balance of payments in the first three months of this year, according to official figures. The country had a firstquarter deficit of £417 million against a deficit of £711 million in the previous
        Agencies  -  556 words
    • 413 5 AFP LESS than three weeks after their latest decision to raise the price of oil, the 13 members of the Organisation of Petroleum Exporting Countries (Opec) meet in Algiers on Monday to discuss the oil market situation. The meeting is expected to concentrate on price
      AFP  -  413 words
    • 255 5 THE US House of Representatives has approved a foreign aid bill of US$5.2 billion, supporting President Carter on money for Nicaragua and newly-independent Zimbabwe. Much of the aid goes to Israel and Egypt, which were exempted from an across-the-board cut of 10 per cent before
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    • 180 5 NYT GULF and Western Industries said it had developed a new battery system that would permit the manufacture of a practical electric car able to go 240 kilometres, at 88 kilometres an hour, without a recharge. Describing the advance as "perhaps one of the
      NYT  -  180 words
    • 104 5 THOUSANDS of trade unionists marched in Paris on Thursday but a 24-hour strike called by France's two major trade unions to protest against government plans to reorganise the national health service generally had little effect. In contrast to a similar strike call three weeks ago
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    • 157 5 Reuter INDUSTRIALISED nations have agreed to extend a tariff concession scheme for developing countries, the United Nations said in Geneva. The UN Conference on Trade and Development (Unctad) said its special committee on preferences adopted a resolution recommending an extension of the Generalised
      Reuter  -  157 words
    • 92 5 Reuter THE UNITED States will have the use' of air and naval facilities in Oman Sultanate under a note signed between the two countries. "But these facilities will be no more than those enjoyed by any country friendly to Oman," the Gulf news agency
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    • 748 5 ARRIVALS Service Local Operator Number Time From MAS MH601 0700 KUL FT FT/5 0710 JFK/ORD/ANC/TPE SIA/BA SQ/BA17 0800 LHRBAH SLA SQ101 0815 KUL MAS MH621 0835 PEN MAS MH671 0930 PEN/KUL MAS MH605 1000 KUL SIA SQ2U 1000 HLP CAL CB14 1000 HLP CPA CX710 1005 HLP
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  • Page 5 Advertisements
    • 244 5 If you think an expert in < foreign exchange is hard tofind, here are two. Roland Isherwood and Richard (Dick) Chegwin of ANZ Finance (Far East) Limited are the people to see for expert advice and facilities on all types of foreign exchange and trade. ANZ Finance is a wholly
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  • 369 6 WHEN YOU have learnt to walk, you no longer have to crawl. When you have invented the rubber tyre, you stop using the wooden wheel. When you have evolved a sophisticated monetary system, you should not seek a return to the archaic concept of a
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  • 316 6 DESPERATE motorists can now save some money on their petrol bills as Shell will be selling its regular grade petrol at a slightly lower price than the others. Of course, not all buyers of motor fluid will be wildly enthused by the price difference, which works
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  • 893 6  -  "Guinness stout is good lor you," the jingle goes. To many people the famous dark stout conjures up images of Dublin's cosy pubs. They -may be surprised, then, to learn that Guinness is Malaysia's leading tipple it accounts for more than one third of the
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  • 683 6 Reuter THE ANCIENT werld, plagaed by politics ud war, tbeagkt It had the aaawer whea It eame to preaervtag the saactity at the Olympic Games aa lateraatieaal trace was declared. Bat evea that amaeety, deslgaed to pratect visitors sad create harmeay far competitors, (ailed to
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  • Page 6 Advertisements
    • 345 6 paining STUDY with the EMILE WOOLF COLLEGE OF ACCOUNTANCY, London for the Association of Certified Accountants Examinations. The Emile Woolf College of Accountancy has since its establishment, gained the reputation as LEADERS in the field of Accountancy education. The consistent high rate of examination successes of Emile Woolf's students is
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  • Page 6 Miscellaneous
    • 1223 6 SsRWDTO Several worthwhile shows TIEBE are several TV Sfe c Ir* n ml t—nOmr iten u. beaatlfal Wt-oUvlu ae- Law aa at 7JI paa. At Mi pa to ap- a keaatlfal Ml-fteytag ae- Lave" SINGAPORE 5 1 12.55 PM Operant and Sesame Street 2.00 Saturday Matinee What's So Bad About
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  • 1518 7  -  In the wake of the Straits Trading annual meeting, ROY MACKIE searches his memory for those annual meetings that were a little out of the ordinary and reflects that the introduction of a touch of the theatrical would make the roles of shareholder and director more bearable
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  • 1682 7  -  By LEE YEW SIM THERE ARE risks associated with all new product programmes, and most marketing people will expect to experience some failure with new products. The only way to avoid product failure altogether is to play it so safe that,
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  • 1002 7  -  with MARGARET THOMAS AS ANY honest person will admit, it is not always possible to keep a promise. The good intention may be there but unforseen circumstances may intervene, and the promise, regretfully but unavoidably, is broken. One wonders whether the
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  • Page 7 Advertisements
    • 170 7 An expansive but skilfully assembled story, set 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 characters are Kevin Derry, a cardiologist who fights his way to the top of the medical establishment
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  • INTERNATIONAL STOCKS
    • 1285 8 NEW YORK THE NEW YORK stock market on Thursday closed broadly higher in heavy trading, extending the rally that pushed prices up sharply on Wednesday, but late profit-taking pared strong early gains. Analysts said profit-taking was due after the seven-week advance that lifted the Dow Jones industrial average
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    • 206 8 JUNK Uf> Ci Abilibi IV 31 JO 27 29 20 Ah .in Algonia Bank Mont Hank Nova Scotia Belt Tel unch unch Beth n unch HP I an I td Brwin l amp Red Lake 44. n 45 unch Can Imp Bk 27 i anpa< Canpar ln\ pf 41
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    • EUROPEAN MARKETS
      • 268 8 JUNE 05 Frs CORBEILLE Air-Liquids B S N Gervais Da none C S F (ThomsonCsl)._ Cie t rancauf des Petroles i ompagnie Financier* Compagme General* Credit Foncier Ue France Hachelle (Librairie) Machines Bull Mir helm (B) Paribas Pechiney Clglne Kuhlmann Peugeot Philips (Nv Gem Belli) Ml 968 494 *****
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      • 210 8 JUNE 05 Fit ABN 286 00 Ahold 70 30 -08 Akzo 23 70 AMEV 8750 0.7 Am fas ***** 1 Amro Bank 63 40 0 7 Bergoss 38 50 unch Bert" 97 00 0.5 Bols 61 60 05 Borsutmj 192 50 1 Burhmann 65 40 04 Byenkorf 60 80
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      • 91 8 JUNE OS Fr» FORWARD MARKET AofC 315 -4 Arbed 1915 •20 A.stur 454 9 Brascan 658 -6 Bru-Lamb 1358 -28 Canpac 1014 18 Cock 270 5 l> Beers 276 2 Ebes 1925 unch Elertrobel 5900 >30 Gb-Inno-Bm 2400 15 Oev 1100 Hobok 2660 30 Petro 5280 60 Ryl Dutch
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      • 190 8 JUNE OS Francs Actions Sulssn 278 unch Alusuisse Br 1180 5 Alusuisse Reg 451 -1 Brown Boveri Br 1730 -5 Cibu Gelgy Br 1055 -10 Ciba Geigy P C 820 5 Ciba Gelgy Reg 596 unch Credit Suisse Br 2180 5 Credit Suisse Reg 396 unch Elektrowatt Br 2290
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      • 108 8 JUNE 05 Lire Anic unch Assoc Gen ***** -150 Baslogi 540 unch Centrale ***** 50 Fiat 1665 -30 FInsider 70 unch Gen Irnmob 63 75 4 25 IKI Pri 2331 -39 Italcementi ***** 45 1 taigas 740 50 -1.5 Ilalsider 322 -0.5 Magneti M Pf 562 unch Marelli Ere
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      • 323 8 JUNE 05 Rand INDUSTRIALS A Alpha 315 unch Abercom 290 5 At And CI 750 unch A MIC" 2325 unch Barlow > 995 >20 P| Sugar 1100 20 CNA 475 5 t'urrie Finance 190 5 l> Beers Ind Edcon 535S I 6500B Eveready Fed Volk Z 395 5 Fugit
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  • Page 8 Advertisements
    • 700 8 Where to wine, dine and entertain Saturdays, Sundays Eves of Holidays On these days, you pay less to come on our package special. <2 days 1 night) $117 <nett) doub*e "Occupancy $43 <neit) additional person $23 (nett> per child under 12 accompanied by parents 3 persons maximum per chaiet Charges
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    • 34 8 See Page 4 for Tokyo stocks The American Express Card serves you well wherever great food is served welcome. To apply for the American Express Card, call 2358 133. OMOO 2 3 A EC
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  • BANKING AND FINANCE
    • BONDS & LOANS
      • 116 9 LLOYDS Eurofinance NV, an offshore subsidiary of Lloyds Bank Ltd, is raising £50 million through a Eurosterling floating rate note issue on the Eurobond market, lead mananger Lloyds Bank International Ltd said. The offering is the second of its kind, following a £20 million issue by a Scandinavian bank
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      • 58 9 THE EUROPEAN Investment Bank (EIB) is raising US$lOO million through the issue of an eight year bullet Eurobond lead managed by Credit Suisse and First Boston Ltd, bond market sources said. The issue carries an interest coupon of 11 per cent, with indicated pricing at par. The bonds are
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      • 46 9 THE World Bank made a 150 million deustchemark private placement co-man-aged by Kuwait Foreign Trading, Contracting and Investment Co (KFTCIC) and Deutsche Bank AG. The bullet placement is for eight years with an 8.5 per cent coupon and is priced at 99Mt per cent.
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      • 73 9 VENEZUELA has opted to borrow US$l.2 billion over seven years from a group of international banks led by Citicorp. By doing so, Venezuela turned down an alternative offer by the banks of a $1.8 billion, eight-year borrowing at 3 A per cent over Libor. The borrowing, carrying a split
        73 words
    • 209 9 AFP Reuter PHILIPPINES' Finance Minister, Cesar Virata, said the Philippines cannot continue to maintain high foreign borrowing indefinitely and must develop internal sources of development revenue. In a speech he outlined measures designed to encourage equity investment by individuals and commercial banks. He said the Philippines has
      AFP; Reuter  -  209 words
    • 101 9 UPI EIGHTEEN private commercial banks in the Philippines lost a total of 717.2 million pesos worth of deposits from January to March this year. The Philippine National Bank said in its quarterly review that the drop in deposits of the 18, including the Manila branch of
      UPI  -  101 words
    • MONEY AND EXCHANGES
      • 163 9 THE U.S. dollar was stable against all major currencies yesterday in very quiet, dull trading, dealers said. They described the market as "almost dead", with many dealers absent for the Forex conference in Singapore. The dollar ended at 219.85/95 yen after briefly brushing a 220.00 midpoint, after an early
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      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 12.1 per cent.
        22 words
      • 48 9 Australian and New Zealand exchanges opening quotes yesterday: US$1.1515/1.1467 Stg 0.4946/0.4888 90 day air mail buying rates Stg 0.5198 US$1.1960 90 day fwd buying rates Stg 0.4986 US$1.1413 NZ exchanges: Reserve bank midrate US$0.9866 Trading bank indications US$0.9916, 0.9816 StgO.4238, 0.4208 90 airmail buying rates US$1.0194 StgO.4477
        48 words
      • 47 9 Frankfurt exchanges opening quotes vesterday: US$1 7720 30 (1.7725 35) Stg 4.135 145 4.126 136) Can 1.5365 83 Dfl 91.05 23 Sfr 107 78 94 Lit 2.127 30 Ffr 42.91 98 Nkr 36 38 44 Bfr con 6.239 48 Bfr fin 6.180 190 Yen 0.8062 75
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      • 69 9 THE JAPANESE Finance Ministry said the average bid for the newly-offered four-year national bonds was 101.23 per cent, to yield 8.087 per cent. This was the first time since the Ministry began issuing medium-term national bonds through public auction in June 1978 that the bid topped
        69 words
      • 433 9 THE foreign exchange market was extremely quiet yesterday as senior dealers from all over the world converged in Singapore for the foreign exchange seminars. From an opening of 218.70/219.20 against the yen, the US unit moved stronger to 219.70/80 before low US interest rates brought the unit down
        433 words
      • 308 9 IN Singapore, gold futures closed yesterday sharply higher on local buying interest prompted by firmer overseas gold prices, dealers said. Trading was moderately active with interest mainly on August and October contracts and total sales for the day was reported at 127 lots and kerb volume at 70 lots,
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      • 28 9 RESULTS of tender held on June 6 for 91-day Treasury bills to be issued from June 9 to June 13. Offered: J70.000.000 Applied for: $227,200,000
        28 words
      • 278 9 THE U.S. dollar and sterling opened little changed yesterday from closing on Thursday night and in other centres. Dealers said trading was quiet with many dealers attending a foreign exchange conference in Singapore. The lira opened at 834.40/ 70 to the dollar, in line with its 834.25/835.25 New York
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      • 205 9 THE U.S. dollar for overnight delivery closed at 220.10 yen yesterday, up from a 219.00 opening but down sharply from 221.60 at Thursday's close, dealers said. Trading was moderate with the volume US$7O6 million. Some dealers said the Bank of Japan bought a small but unspecified amount of dollars
        205 words
    • 170 9 THERE'S something «M ud somethiag aew la Overseas Lnlos Baak's North Bridge Baad Branch. Come Jut 11, this «dice will he repealed at Nm a/»A, Black 231 of Bm Basah Camples, Bala Street, Singapore 1718. The breach apeaed la Oetaher IMI. The valame d hadaea aad am her
      170 words
    • 168 9 Reuter THE BANK of England intends to withdraw £1 billion of temporary liquidity from the domestic money market by not extending the sale and repurchase agreements for government bonds, with clearing banks and cancelling the recall of special deposits due on June 16. Facilities made available to
      Reuter  -  168 words
    • 71 9 BRITAIN'S reserves of gold and foreign currency rose by US$276 million in May, the sixth straight monthly increase. At the end of the month, reserVes stood at a record |28.3 billion, the Treasury reported. The increase was smaller than some analysts expected in view of the strength of
      71 words
    • 213 9 Reuter BANK of Japan governor Haruo Maekawa said he rules out a cut in the official discount rate of 9 per cent at present. The central bank will maintain its tight money policy to curb price increases, he said. While commodity market prices are calmer
      Reuter  -  213 words
    • 63 9 THE BANK of Thailand cut the rate for commercial bank's borrowing from the central bank by one per cent to 12.5 per cent, in line with declining interest rates abroad, effective June 4. The rate for borrowings above the credit line was also cut by one per cent
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    • 362 9 Reuter US FEDERAL Reserve Board chairman Paul Volcker expects the gap between the higher prime and lower money market rates to narrow to more normal levels. He said at the international monetary conference in New Orleans that he does not believe the recent sharp drop in
      Reuter  -  362 words
    • 271 9 Reuter THE SWISS National Bank has objected to requests by the US Federal Reserve Board for additional information from Swiss banks. Swiss National Bank President Fritz Leutwiler, attending the international monetary conference in New Orleans, said the Swiss central bank has not had
      Reuter  -  271 words
  • Page 9 Advertisements
    • 429 9 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 the oil industry. It is the most comprehensive and in-depth coverage
      429 words

  • 1976 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1.000 units, unless otherwise specified. SECTION ONE INDUSTRIAL A COMMERCIAL Acma (3.188
    1,976 words
  • 180 10 Ol B-MONTAGt SINGAPORE I'NIT TRI'ST (Muu(rn' prior* lar Jon 1) (prices tar Jua I) Union Spore Fund 103 108 The Commerce 2.51 2.64xd The Savings Fund 167 175 1.21 1.27 INCOME BOM) I NIT S pore Prog Fund arrrni pn iors» 120 1 26 S pore Sec. Fund
    180 words
  • 2840 10 Gr's Gr's Net 1980 Last Div Div Y'ld P/E Vol Dav High Low Company Sale or- C'vr COOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 370 245 Acma 318cd 2 15.0 2.8 4.7 12.5 28 318 314 223 220 Alcom 223 12.0 Z5 5.3 126 149 116 Allied
    2,840 words
  • 2172 10 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. INDUSTRIALS AJaaotete (3.208) (1)318 Alcaa (2.225) (4) 218 (1) 2.16 (3) 2.20
    2,172 words
  • 44 10 B«lt«n Preperttf* Bhd: AGM to be held at Room 502, 5th floor, Campbell Complex, 96, Jalan Campell, Kuala Lumpur at 10.20 am on June 9. Talplng Textiles Bhd: AGM to be held at Bangunan MTDF, Jalan Pekeliling, Kuala Lumpur, on June 10.
    44 words
  • 699 10 BUYING confidence spilled over Into some of the seldom traded counters on continued bullish sentiment at the Singapore stoeh market yesterday. Initial inhibitions were easily shrugged off and by the closing minutes, the bolls were well-established at the front lines. Shifting their Interest from recent
    699 words
  • 585 10 THE KUALA Lumpur stock market finished on a steady note yesterday, with selected issues continuing to push firmly ahead. Opening prices were traded above the overnight close, but values softened slightly towards the noon break on some profit-taking and selling. The market continued to fluctuate in
    585 words

  • COMPANY NEWS
    • 932 11  -  By TOH SU FEN GOLD Coin Ltd, one of the largest feedmills in Singapore and Malaysia, is now laying the groundwork for expansion in the *****. "As we enter this new decade, it is timely to consider our position," says chairman John Cur
      932 words
    • LATEST RESULTS
      • 87 11 has reported group net profit before extraordinary items for the year ended March 31, 1980 of 554.34 million as compared with $3.48 million the year before, on turnover of $47.50 million ($41.32 million). The directors are proposing a final dividend of 10 per cent, which together with
        87 words
      • 56 11 has reported group pre-tax profit for the year ended March 31, 1980 of $11.15 million as against $7.03 million the previous year, on sales of $106.30 million ($82.25 million). The directors are recommending a final dividend of 16 per cent, making total distribution for the year of
        56 words
      • 30 11 has reported pre- tax profit for the half-year ended March 31, 1980 of M 5237,724 as compared with $411,039 the year before, on sales of $5.27 million ($4.35 million).
        30 words
    • 516 11 HIGH commodity prices, coupled with a healthy demand for rubber and palm oil during the early months of the current year, have given the board of Malakoff reason to believe that 1980 will be another favourable year. Although prices of both commodities are now lower,
      516 words
    • 308 11 METAL BOX Bhd has once again benefited from increased sales to chalk up a significant growth in earnings. Group pre-tax profit for the year ended March 31, 1900, rose 28.5 per cent to 59.01 million, far exceeding the previous year's growth of 10 per cent to $7.01
      308 words
    • 545 11 THE INTRODUCTION of new monetary measures in Malaysia last year proved to be a boon to South-East Asia Development Corporation (Seacorp). Its discount house subsidiary. Short Deposits (Malaysia), being extremely active in the short-term money market and (government) securities trading, obviously profited from these
      545 words
    • 84 11 PIMA Supermarkets Malaysia, a subsidiary «I Celd Storage foldings, has signed an agreement with Hannah Kampieks far the leasing and management at the Penang Plain in Bnrmah Bead, Penang. Mr Williams, manager Pima Supermarkets, anneoneed that the IMM sq ft supermarket will be spened on the graud
      84 words
    • 636 11 r i Market Talk... A THE EASING of prime interest rates in the United States will certainly affect the local stock market, OM •ad C* points out in its latest newsletter. Several American forecasters had predicted that this would lead to a worse recession than that
      636 words
  • Page 11 Advertisements
    • 177 11 SIM IJM INVESTMENTS LIMITED (Incorporated in the Republic of Singapore) RIGHTS ISSUE OF 11,948,333 SHARES OF $1.00 EACH AT PAR APPROVALS The above issue was approved by Stockholders at an Extraordinary General Meeting held on May 29,1980. Approval in principle for the issue has been obtained from the Stock Exchange
      177 words
    • 346 11 How much do you see when you look at this etching? 4 79T%. ¥.(ttmmmm tH An \.m V,. The Time Life Library Of Art £<ie/t 6oofr measures 9 x 12 inches (23 x 31 cm). Hard cover, with IHH pa yes. More than 140 illustrations, approximately half in full colour.
      346 words

  • 305 12 SINGAPORE children are over-conscientious, the Minister for Education Dr Tony Tan said yesterday. And Singaporean thinking is such that unless a second language is a prerequisite for further education, schoolchildren will not put in the necessary effort to learn this second language. Dr Tan made
    305 words
  • 212 12 THE Singapore worker is generally interested in retraining and courses to upgrade his skills. A survey on the training needs of the adult worker last year showed that more than 80 per cent of the respondents was interested in retraining and upgrading courses. Mr
    212 words
  • 315 12 AP INVENTOR Paul MacCready, whose pedal-powered airplane made the first man-powered flight across the English Channel last year, on Thursday unveiled an airplane he said was completely powered by solar energy. The 31-kilogram plane, the Gossamer Penguin, flies at about 24 kph and can only get
    AP; Source: AP photo  -  315 words
  • 297 12 THE FAR Eastern Freight Conference (FEFC) and the Freight Committee of the Rubber Industry of Malaysia (FCRIM) have agreed to extend for two years from Sep 1, 1980, the Separate Merchants' Agreement (SMA) for the carriage of Malaysian rubber and drummed latex to Europe. The
    297 words
  • 212 12 THE closure of Klang's south port following extensive damage to godowns caused by Thursday's fire may have adverse effects on the exporters of bulk cargo who use the port as an exit point. However, the extent of the loss as a result of the indefinite closure of
    212 words
  • 805 12 LONDON, Fri. Equities were higher while government bonds closed steady after a quiet session, dealers said. At 3pm. the FT index was up 4.9 points at 428.3. Most sectors showed gains of up to 8p on the strength of small buying interest in midmorning, but prices drifted below
    805 words
  • 136 12 KOREAN electronic component manufacturers who are in Singapore to promote their products said they are not entering the local market to dump goods at low prices. Mr Kim Hyun Tai, leader of a group of six representatives of Korean exporters, said Korean exports to Singapore
    136 words
  • 443 12  -  By TOH SU FEN REPORTS of gold finds in Kelantan have touched off heavy speculation in the shares of listed tin company Kampong Lanjut, which is currently prospecting in the state. Earlier this week, the price of the share rose sharply from $4.02 to a
    443 words
  • 326 12 SHELL Singapore this morning (midnight) raised its prices for petrol and diesei sold at pumps, two days after Esso and one day after the other oil companies raised theirs this week. But, unlike Esso, BP, Caltex and Mobil which had raised their prices to
    326 words
  • Page 12 Advertisements
    • 774 12 MAGNUM CORPORATION BERHAD Notice of Meeting NOTICE IS HEREBY GIVEN that the Eleventh Annual General Meeting of the Company will be held at Ist Floor, Magnum House, 111 Jalan Pudu, Kuala Lumpur on Thursday, 26th June 1980 at 11.00 a.m. for the following purposes: 1. To receive and adopt the
      774 words
    • 475 12 ASEAN TRADE SEMINAR JUNE 26 27, 1980 RELC International House, Orange Grove Road, Singapore Organized by Applied Researeh Corporation and Times Organization ASEAN is the fastest growing economic region in the world. In recent years, ASEAN trade has come into prominence partly because of the cooperation pursued by the member
      475 words
    • 2 12 See Leader
      2 words
  • Page 12 Miscellaneous
    • 65 12 MfkfiH'gß Outlook for Singapore from 6 a.m. to 1 p.m. today: Cloudy with thundery showers in several areas. Report for 24 hoars prior to 7.31 p.m. on Jane 6 at the airport. Maximum temperature 31.1 Associated humidity 63 Minimum temperature 23.8 Associated humidity 98 Hours of sunshine 2.90 Rainfall in
      65 words

  • LEISURE TIMES
    • 1759 13  -  By NG LOKE KOON THERE are many examples of people who are successful businessmen and businesswomen. And it is tempting to want "to become my own boss" with the hope that it can be the path to a life of wealth and ease. But is it
      1,759 words
    • 868 13  -  NG LOKE KOON THE FILM industry, being profitmotivated like all others, likes winners. And when one comes along others eagerly follow. Cecil B de Mille spawned a string of biblical films, Saltzman and Broccoli created the James Bond genre, the clever Italians managed very well
      868 words
    • 166 13 Loads of fun no fuss or problem BARBECUES are fun but many people find the preparation and fuss involved quite tiresome. Now that the Oberoi Imperial Hotel has started do-it-yourself barbecues on Friday and Saturday nights, one can have all the fun of a barbecue without the fuss and preparations.
      166 words
    • 86 13 IT PROMISES Penang Laksa. fruit rojak, mee jawa goreng, loh bak, roti jala, nasi kandar. The list is almost endless. Pasar Pinang, the third Penang Food Festival brought to us by Holiday Inn, Cathay Pacific and Penang Development, will be held from June 14 to June 22.
      86 words
    • 1411 14 MOTORING Hermes IT DIDN'T sound at all like a V-12 inside the cabin, maybe that's because of the effective insulation. But I was sure it emitted quite a healthy growl; because when I slipped it next to the little Alfa, the Alfa driver
      Hermes  -  1,411 words
    • 1172 14  -  By RONALD KOW SELANGOR need not give up hope yet. It can still get to play Singapore in the Malaysia Cup semi-finals that is if it is prepared to risk disciplinary action by losing to Perlis by nine goals at Stadium Merdeka tonight.
      1,172 words
    • 388 14 GOLF: Attention will be focused on the 151 golfers at the Jurong Country Club today as they compete in the Jurong Open "C" division tournament. The first hole-in-one for the whole of the Jurong Open ('A', 'B' and 'C') wins a car a Volvo 244 worth $46,795.
      388 words
    • 740 14  -  By CHARMAINE CHAN THE THIRD Anchor Business Houses Squash League which starts this afternoon at the Singapore Squash Centre should culminate in a few surprises coming mainly from the smaller teams. Ko Advertising and Goh, Tan Co are such examples. Although they did not feature as last
      740 words
    • 304 14 REMEMBER Mr coverage of the mecca for health enthusiasts a coo pie of weelu back? You caa enjoy the latest ronrept in executive relaxation at the newly opened Mandarin Reereation and Health Centre for just $8 for the month of Jane. This special initiation
      304 words
  • Page 13 Advertisements
    • 98 13 M IRAKI* Raki Corporation For all types of Culinary (Oriental Raki Corporation E r# ***2> Tel: *****4 *****4 9 r °""d. h le Tele* rs ***** A B rakicor rubbed, herbs. CaMe: "RAKICORf>" seeds,roots, spices F«.0., »"d pulses Macsiling Industrial Estate Malaysia Tel: ***** Manufacturer, Cable: "RAKICORP" Johore Bahtu miller
      98 words
    • 21 13 RICOH Plain paper copters Preferred by offices worldwide CALL *****5. Wywy Private Limited Wywy House. 17 Leng Kee Road, Singapore 0315.
      21 words
  • Page 13 Miscellaneous
    • 601 13 WHAT WHERE THEATRE ABll HASSAN by Carl Maria von Weber will be performed at the Victoria Theatre on June 12, 14 and 15. Show time at 8.30pm. University Orchestra conducted by Paul Abishegabaden; university chorus conducted by Choo Hwee Lim; stage director: Choo Hwee Lim. Tickets at $2, $3 and
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  • Page 14 Advertisements
    • 158 14 CARLOS castaneda THE SECOND RING OF POWER Carlos Castaneda's journey into the world of sorcery has captivated millions. In this new book, he introduces dona Soledad, whose mission is to test Castaneda by a series of terrifying tricks. Thus, Castaneda is initiated into experiences so intense, so profoundly disturbing, as
      158 words