The Business Times, 18 October 1980

Total Pages: 14
1 14 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. llt/1/81 SATURDAY, OCTOBER 18,1981 50 CENTS
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  • BRIEFLY...
    • 75 1 AP NEW YORK, Fri Chase Manhattan, the third largest US commercial bank, raised its prime lending rate today from 13.5 to 14 per cent. The move came slightly more than two weeks after Citibank, ranked second-largest, raised its rate to 14 per cent on Oct 2. Until
      AP  -  75 words
    • 71 1 TOKYO, Fri. The Japanese Defence Agency today said it had for the first time spotted two Soviet surface warships arriving in the Far East from Europe via the Arctic Sea. It said a Japanese destroyer and navy plane today spotted them sailing into the Sea of Japan from
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    • 62 1 Reuter COLOMBO, Fri. Former Sri Lankan prime minister Mrs Sirima Bandaranaike will begin a nationwide campaign on Monday to protest over her expulsion from Parliament and disenfranchisement, a member of her family said today. Her son Anura, a Member of Parliament, said, "We are going to take the
      Reuter  -  62 words
    • 45 1 AFP DACCA, Fri. Bangladesh will sell 20,000 tonnes of chemical fertiliser to Sri Lanka under a bilateral agreement signed here, the Bengali daily newspaper Itefaq reported. The accord was signed by the state-owned Bangladesh Chemical Corporation and Fertiliser Corporation of Sri Lanka. AFP
      AFP  -  45 words
    • 37 1 BEIJING, Fri. The trial of the so-called Gang of Four and six other defendants is expected to begin at the end of this month or early in November, the New China News Agency reported tonight.
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    • 70 1 Reuter TOKYO, Fri. Japan's production of ethylene in September fell sharply to 268,200 tonnes from 419,060 a year earlier, the Japan Petrochemical Industries Association said. The figure was the lowest for over five years, reflecting heavy production cutbacks by petrochemical producers to reduce high stock levels, it said.
      Reuter  -  70 words
    • 81 1 YJK PARIS, Fri. Automobiles Citroen of the Peugeot group said it will lay off factory workers for 10 days over the next few weeks to prevent excessive stocks. About half its workforce of 50,000 will be affected and output will be cut by about 30,000 cars. Citroen's car
      YJK  -  81 words
    • 60 1 AP E V Stock prices continued to decline this morning as some major banks raised S^£7!!fJ. ending rates and the government us econoi ny is growing again av L era e of 30 industrial issues fell 3.41 to 955.29 m the first half hour as declines outnumbered advances
      AP  -  60 words
  • 156 1 Rises P M R I 685 175 Indices PMC Taeek Cement Straits Trading 1300 570 940 160 99 95 B.T.Indicator: Oct 16 Oct 17 *****.*****54.64 Kg Lanjut 870 85 Industrials: 631.61 651.35 Petaling I960 80 Finance: 1132.65 1139.73 Sel Properties 1610 80 Hotels: 594.17 568.53 C Sugars
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  • Article, Illustration
    141 1 Rises Indices PMRI 6.75 1.55 Oct 16 Oct 17 PMC 13.30 1.40 B.T. Index: *****.*****00.31 Kg Lanjut 8.80 1.10 Industrials: 748.16 770.68 Hong Kong (T) 23.00 1.00 Finance: 1066.32 1090.40 S Trading 9.60 .90 Hotels: 391.48 391.77 Petaling (T) 20.30 .90 Properties: 600.67 620.66 C Sugars 11.20 .80
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  • 671 1  -  KEEPING INFLATION IN CHECK By HENRY CHANG MALAYSIAN big business and industry will find lean pickings from the 1981 budget which Mr Razaleigh Hamzah presented to Parliament yesterday, a budget designed to maintain a high and sustained level of economic growth while keeping the
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  • 251 1 MILITARY training will I eventually be built into the Singapore education system so that apart from academic studies, sports and other extra-curricular activities, the citizen will be trained to defend his country. The Minister of Defence, Mr Howe Yoon Chong, said yesterday that military
    251 words
  • 495 1  -  By RUTH CHENG A GROUP of students have lodged a petition against the Institute of Banking and Finance (IBF) for the way it handled the diploma in banking and finance examination in June. Addressed to the IBF Council in July, the petition sought redress from
    495 words
  • 284 1 WORK ON most construction sites in Singapore will be drastically slowed down for the next five to six days as Malaysian construction workers return home for the coming Hari Raya Haji holiday on Monday. Some contractors who are employing a large proportion of Malaysian workers said work
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  • 287 1 THE laterbaak money market remained extremely tight yesterday as discount rates far three-month bank bills and certificates of deposit (CDs) rose by abaat one fall percentage point compared with the previous day's closing. The discount bosses were quoting la the region of 13 3/11
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  • 479 1  -  By CHOO AI LENG FUELLED by news of what was generally felt to be a satisfactory Malaysian Budget, the Singapore stock market soared to dizzying heights yesterday. In less than a month, the sturdy bulls returned in full force and swept the Straits
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  • Page 1 Advertisements

  • TRADE AND INDUSTRY
    • 443 2 SEMINARS AND COURSES Oct 8-17: Solar Turbines Training Seminar, Hyatt, Solar Turbines S'pore Oct 17: Responsibility Accounting, Arthur Young Co Oct 18: Industrial Relations Workshop, Waterloo Centre, Personnel Organization Development Oct 18: Talk on Corporate Planning, Hotel Merlin, Institute of Cost Management Accountants Oct 22-24: Management of Projects,
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    • 448 2  -  By HSUNG BEE HWA YOKOGAWA Electric (Singapore), a Japanese manufacturer of electrical meters, may be the first company in Singapore to use the markings of the Japan Industrial Standards. The markings are an indication of quality that is widely recognised in Japan,
      448 words
    • 194 2 A BRITISH trade mission is very encouraged by Singapore's buoyant economy. The mission found prospects for increasing exports to Singapore very bright, said Mr Arrandale, secretary of the trade delegation from the Manchester Chamber of Commerce and Industry. Representing a cross section of industry and commerce, the
      194 words
    • 133 2 SINGAPORE Airlines, like all other airlines, is looking into methods of conserving fuel, from buying fuel-effi-cient aircraft to using lighter aircraft paint. The national carrier will be using lighter aircraft paint from next month when its present stock runs out. Fas-Orient Singapore, representing Sikkens, a Dutch paint company,
      133 words
    • 149 2 SIXTEEN British companies will exhibit their products at Metal Asia, to be held from Dec 8 to 12. The exhibition will take place at the same time as Machine Asia, where another contingent of nine specialist British manufacturers will be participating. The companies taking part in Metal
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    • 335 2 MALAYSIAN production of most oil palm products including kernel oil and palm kernel cake increased substantially during the first of the year. Statistics Department figures show that 201,239 tonnes of crude palm oil were produced in June, up 8.2 per cent on the
      335 words
    • 272 2 THE Malaysian manufacturing sector was buoyant in the first half of this year and is expected to improve further in the second half year. According to a survey of 146 industrial companies, by the Malaysian Industrial Development Authority, 90 per cent of medium-sized companies reported higher production
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    • 541 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Apollo Peak (0400 after Barber Taif) 46 Boleslaw Ruminski (after Long Shan A Meiki D/L) 35/ 36 Berlin (Maiden Voyage) (0600 after Martha Bakke) 6/ Foochow (HO shifts after Barge OC 9 1 Sea King sails) 18 Grand Wing (after Centaur) 8
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    • 315 2  -  By SIOW LI SEN A COMPANY fabricating jewellery has found a profitable market in West Asia. The company, Asia Eastern Jewellery Ornament, grew from humble beginnings three years ago to its present size as an employer of 30 craftsmen. Specialising in setting diamonds
      315 words
    • 252 2 THREE Singaporeans will be among 400 managers from management organisations in the Asia/Pacific region expected to participate in the 7th International Management Conference of the Asian Association of Management Organisations. Mr Richard Eu, Professor You Poh Seng and Mr Tan Jing Hee will represent the
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    • 143 2 A DELEGATION from the Traindustriforbundet, an employers' organisation of the wood products industry in Sweden, will visit Singapore from Oct 23 to 24 to explore opportunities for cooperation with the local industry. Cooperation will include technology exchange, common research projects, commercial joint-ventures and trade. Most of the delegates
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  • Page 2 Advertisements
    • 329 2 How much do you see when you look at this etching? i-*/A <#• <' Art v.- IW*. 6.V—/.-/ Va. ///> §/*<.*» /V.V 7> The Time Life Library Of Art /far/* 6ooAr measures <J x 12 inches (23 x 31 etri). Hard cover, with ISS pages. More than NO illustrations, a
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  • REGIONAL
    • 362 3 AFP Reuter THE Japanese government plans a package of pricestabilising measures possibly next week, a top Japanese government economic policymaker said on Thursday. Toshio Komoto, directorgeneral of the Economic Planning Agency, told the Diet that the package will include disbursement of special reserve
      AFP; Reuter  -  362 words
    • 248 3 Reuter A MUSLIM extremist involved in Thursday's attack on a police station in Batu Pahat, Malaysia, in which eight members of his sect were killed, has given himself up, police said yesterday. The man was taken into custody as police mounted a full-scale search for
      Reuter  -  248 words
    • 296 3 Reuter THE Australian opposition Labour Party is the favourite in today's general election after three respected opinion polls gave it enough support to overthrow the government. All three polls, published in newspapers yesterday, were taken during the week and are the most up-to-date.
      Reuter  -  296 words
    • 446 3 UPI Reuter CENTRAL bank governor Gregorio Licaros said on Thursday the Philippine economy performed well in the first nine months of 1960 despite the world recession, inflation, and energy crisis. However, he reported to President Ferdinand Marcos that his analysis excluded the ill-effects of the
      UPI; Reuter  -  446 words
    • THE REGION IN BRIEF
      • 458 3 Agencies HUNDREDS of police clashed with demonstrating students on the grounds of Korea University yesterday in the worst campus violence since students took to the streets of the capital last May. Eyewitnesses said about 500 students massed in the grounds of the university calling on President Chun Doo-Hwan
        Agencies  -  458 words
    • 436 3 MALAYSIAN employers have complained of certain "unsatisfactory aspects" of recent amendments to the employment regulations, and have insisted that these would have to be taken up with the Labour and Manpower Ministry. The Malaysian Employers' Federation (MEF) said on Thursday that the complaints are in relation
      436 words
    • 115 3 AFP AUSTRALIAN and Japanese business leaders wound up three days of talks in Tokyo on Thursday with agreement to further promote complementary economic relations between Japan and Australia through stepped-up Japanese imports of Australian energy resources. Both sides also affirmed the need to map out a
      AFP  -  115 words
    • 370 3 THE Far East Freight Conference (FEFC), whose proposals on the general rate increase (GRI) were rejected by the Federation of Asean Shippers Council (FASC) on Wednesday, has offered a concessionary rate to Malaysian rubber shippers in a separate proposal. The Freight Committee of the Rubber
      370 words
    • 181 3 UPI CHINA and the US have agreed on one of the largest grain deals in history and are now reviewing the language of the contract, diplomatic sources in Beijing said yesterday. The two sides have been negotiating the deal for nearly two weeks and
      UPI  -  181 words
  • Page 3 Advertisements
    • 291 3 THE BANKS WILL BE CLOSED TOMORROW YOU'LL NEED CASH. WHAT APE YOU GONG TO DO? Use your Unicard. With it, you have financial independence, day or night, every day of the week. So even I the banks are closed, 1 you can still do your banking. A Unicard gives you
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  • RAW MATERIALS
    • 268 4 EASIER conditions were experienced in thin trading with levels eventually finishing about four cents down overall, says IfoUday, Cutler, Bath ft C« in its review of the Singapore and Malaysian rubber markets for the period Oct 9 to Oct 69. With
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    • 307 4 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.08, 100 per cent second class 0.96, 100 per cent third class 0.93, 25 per cent new crop no stock, B-10 per cent 0.80. THAI BROKEN: A-super 0.72, Special 0.68.
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    • 290 4 THE SINGAPORE rubber market yesterday opened slightly firmer and thereafter prices fluctuated narrowly in quiet trading. The morning session closed slightly higher, with November One RSS buyers quoted at 300.00 cents a kilo, up half a cent from Thursday's close. Prices weakened marginally in the afternoon on some speculative
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    • 314 4 RAS prices In cents per kilo yesterday: Noon Clone (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 298.00 299.00N 296.50 297.SON Int. 1 R.S.S. November 300.50 301.00 298.75 299.25 Int. 1 R.S.S. December 305.00 305 50 303.75 304.25 Int. 2 R.S.S. 285.50 286.50N
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    • 117 4 NOON SSR and SMR i s RA8 SSR 20 SSR SO (1 toi (1 tot i pallet) pallet) Nonabet (Correal Mtk) Bayer* Seller# ***** 258.00N 253 00 255 00N Dec# liber (Forward Mtk) Bajrera Seller* 257 00 2S900N 254.00 256 00N MRELB SMRCV SMRL SMR 5 SMR
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    • 39 4 Rubber: Oct 17 Singapore: Nov: 298.75 cents (down 0.75 cent) Malaysia: Nov: 303.50 cents (down 1.50 cents) Tin: M 52,095 (down $25) (equivalent to $34.64 per kUo) (down 41 cents) Official offering: 171 tonnes (up 25 tonnes)
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    • 133 4 THE STRAITS tin price In Peaaag yesterday wsah—d M$2S a pical U *2,M6 ($34.14 a Ule), $59 Mew the lateraatt— I Tla Agreement togBiytag was redaeed tram all ceatres faUawtag aews that the lateraatiaaal Tla Caueil has accepted IJM taaaes si tla tram the US fsr the haffer
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    • 171 4 CHINESE Preface Exchange, Stagapare, cl—lag prices per lMkg yesterday: Cmmil ail: Bulk fob 120.00 sellers, old drum (in second hand drum) fob $130.00 sellers, new drum fob $136.50 sellers. Cepra: Mixed (loose) $71.00 buyers. Pepper: Muntok white pepper fob Asta NLW $425.00 sellers, Sarawak white pepper faq fob
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    • 223 4 CHICAGO soybean futures on Thursday closed 11 Vi US cents a bushel lower to up one cent. Only the deffered November position ended higher. Prices settled near the bottom of a seven-cent range with nearbys making new day's lows. Local liquidation and substantial selling by the large professional house,
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    • 162 4 WHEAT futures closed 1/4 cent to 4'/2 US cents a bushel lower, around the middle of a seven-cent range, in' Chicago on Thursday. Local liquidation following forecasts of much needed rain in winter wheat crop areas pushed prices to the minus side from the start. Diminished export business was
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    • 349 4 AFP THE International Tin Council (ITC) has decided to accept a contribution of 1,500 tons of tin metal for its buffer stock from the US government, despite protests from the Bolivian delegate. In a communique published after its four-day meeting, which ended in
      AFP  -  349 words
    • 779 4 COFFEE: Robusta futures yesterday closed a quiet morning session £3 a tonne down in near November, at £1,095, to about unchanged in forward positions from Thursday. Sales were 847 lots including three options. Dealers said light dealer buying that helped offset opening losses continued during the morning bringing
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    • 149 4 THE MALAYSIAN palm oil market yesterday weakened further on lack of buying interest and the further effect of India rejecting offers in their weekly tender, dealers said. In October, the Central and Southern regions lost M 52.50 and $10 respectively to $712.50 a tonne, and in November both
      149 words
  • ASIAN STOCKS
    • 133 4 STOCK prices firmed yesterday and turnover rose to 4.7 million pesos from 3.7 million, dealers said. Lepanto B, Pogei and First Phil Hldgs rose while Philex B eased and the rest were either unchanged or un traded. OCT 17 Pesos Acoje Mining 0074 oooc AUu Con A Atlas Con
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    • 15 4 THE HONGKONG stsek market was closed yesterday fsr a (seal hsttday (Chang Yeaag Festival).
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    • 51 4 FINANCIAL TIMES INDUSTRIALS Thursday 480.4 Wednesday 485-5 Week Ago 473.7 DOW JONES AVERAGE INDUSTRIALS Thursday 958 70 Wednesday 872.44 Week Ago 958.96 H.K.HANG SENG Friday closed Thursday 1430.04 Week Ago 1357.18 SYDNEY INDUSTRIALS Friday 714.74 Thursday 715-56 Week Ago 716.85 ALL ORDINARIE8 Friday 967.85 Thursday 972-52 Week Ago
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    • 478 4 TOKYO Reuter SHARE prices on the Tokyo Stock Exchange yesterday closed higher on cheap buying, with many dealers anticipating that Japanese corporations may change surplus funds investment to stocks from short-term money markets reflecting the recent downtrend of interest rates, dealers said. The market
      Reuter  -  478 words
    • 331 4 TRADING on the Sydney share market took on a mixed and cautious tone yesterday as traders squared positions ahead of today's Federal election, brokers said. Conflicting views on the outcome of the poll showed up in the sensitive uranium sector where Peko's 50-cent fall to AJII.OO and EZ's 30cent
      331 words
    • 245 4 STOCK prices closed mostly higher in quiet trading, dealers said. Berli Jucker, Saha Union and Mah Boonkrong Drying and Silo rose one baht each to 320, 177 and 157 baht respectively, while Rama Tower gained 2.50 to 76 and First Trust 0.75 to 50 baht. OCT 17 Bahu Ail*
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  • Page 4 Advertisements
    • 431 4 Businessmen, Are You Getting Your Skare 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
      431 words

  • OVERSEAS
    • 428 5 Reuter PRESIDENT Carter and his rival for the US Presidency Ronald Reagan had their first election campaign encounter on Thursday night at a non-partisan dinner that turned tense when Mr Carter attacked bigotry by some religious groups supporting his opponent. The two presidential rivals, who
      Reuter  -  428 words
    • 128 5 AP THE United States is discussing with other countries on ways to ensure the continued free flow of through the Strait of Hormuz in the Persian Gulf, the State Department said on Thursday. Department spokesman John Trattner reaffirmed that the US is prepared to take the
      AP  -  128 words
    • 267 5 Reuter BRITAIN'S opposition Labour Party on Thursday prepared for a bitter Left-Right leadership struggle following former prime minister James Callaghan's decision to stand down. The first to stake his claim for the leadership last night was Denis Healey, a former chancellor of the exchequer
      Reuter  -  267 words
    • 814 5 ARRIVALS Service Local Operator Number Time > From MAS MH601 0700 KUL FT FT71 0710 JFK/ORD/KUL SIABA SQ/BA17 0715 LHR/BAH SIA SQ101 0815 KUL MAS MH621 0835 PEN MAS MH671 0930 PEN/KUL MAS MH605 1000 KUL SIA SQ211 1000 HLP CAL CI814 1000 HLP CPA CX710 1005
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    • 494 5 UPI AFGHAN leader Babrak Karmal and Soviet President Leonid Brezhnev meeting at the Kremlin on Thursday, declared that Marxist Afghanistan was winning its fight against rebels and signed an agreement pledging the two nations' future cooperation. The text of the agreement was not immediately released,
      UPI; Source: UPI photo  -  494 words
    • 201 5 Reuter CHANCELLOR of the Exchequer Sir Geoffrey Howe told an annual meeting of bankers in London that the "autumn of understanding" hoped for by the government meaning moderate wage claims by trade unions may have begun. He cited a recent 8 per cent wage settlement
      Reuter  -  201 words
    • 561 5 NYT A NEW round of strategic arms limitation talks, aimed at curbing the deployment of medium-range nuclear missiles and bombers in Europe, opened on Thursday between the United States and the Soviet Union under a blanket of secrecy, amid nagging doubts within the western alliance
      NYT  -  561 words
    • 318 5 AP THE Common Market commission said yesterday Europe's recession is likely to continue in 1981, but vigorous action by the community's nine governments can I soften its impact. The commission, the Common Market's executive branch, urged continued attempts to cut dependence on imported
      AP  -  318 words
    • 480 5 AP Reuter PRODUCTION of US factories and mines surged ahead by one per cent last month with gains registered across a broad sector of the economy. The Federal Reserve Board said on Thursday that the increase largest since May 1979 followed a rise of 0.6
      AP; Reuter  -  480 words
    • WORLD IN BRIEF
      • 388 5 Agencies BELGIAN caretaker Prime Minister Wilfried Martens announced yesterday an reement today on the formation of a coalition government to solve a 10-day-old government crisis. But the Flemish Social Christian leader told a radio interviewer he was far from sure that his fourth government in 18 months
        Agencies  -  388 words
  • Page 5 Advertisements
    • 207 5 No mystique in this magnificent investment A good Oriental carpet has a charisma which derives from an aesthetic fusion of design, artistry, technical construction, durability, symbolism, history and age. The better the c arpet the more powerful the charisma, and additional factors come into play such as rarity, intellectual clarity
      207 words

  • 426 6 MALAYSIA, Singapore's closest neighbour and the one to whom the Republic's fortunes are most closely linked, has reported an overwhemingly buoyant set of economic figures together with an expansionary budget. The extent of the good news could be gauged by businessmen's response, which was
    426 words
  • 201 6 THE INSTITUTE of Banking and Finance has incurred the wrath of those students who were adversely affected by its decision to upgrade the standard of the last banking and finance examinations held in June. We do not argue with the fact that the IBF has
    201 words
  • 1713 6  -  By RICHARD LAMBERT FT IN 1963 a tinpot Australian exploration company secured for £100 exploration permits covering 372,960 square kilometres of ocean off the remote north-west tip of Australia. Seventeen years later the same company which is still a minnow by international standards is about
    FT  -  1,713 words
  • 595 6  -  By JOE FERNANDEZ Depthnews SOUTH Korea has emerged as Malaysia's leading foreign investor with investments totalling more than four times its rivals, Japan and Hongkong. Government figures show that South Korea invested MJ87.1 million last year, compared with Japan's and Hongkong's $20.7 million. South Korea
    Depthnews  -  595 words
  • Page 6 Advertisements
    • 51 6 sarin by Radio Lessons 11 ~20 By following the series conscientiously, you will have a grasp of 800 1.000 Chinese characters at the end ot the series and you will be able to converse in simple and acceptable Mandarin. Own a set now. You can then learn at your own
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  • Page 6 Miscellaneous
    • 1382 6 Spectacular circus drama PROGRAMMES lead to perk ap a Utile whea pa Mir MMajfi (mil a weekead bat there to, sally, a lark 1 pre-batMay mavles. Tie best that SBC haa came ap with to the Great WaUemdaa, the sper tar alar bat tragic drama revaMag raaad a famaaa Americaa
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  • 1478 7  -  For many foreign investors the United States continues to be a fertile acquisition ground. The annual number of foreign acquisitions is at its highest since World War 11. But while the nation may indeed be the last bastion of free enterprise, it would be
    FT  -  1,478 words
  • 1208 7  -  FORUM with RODNEY PINDER Reuter AS British families relaxed before their televisions during the Labour Party leadership crisis one night this week, they were confronted by the sombre face of the country's elder statesman, former Conservative Prime Minister Harold Macmillan. In an informal interview in
    Reuter  -  1,208 words
  • Page 7 Advertisements
    • 289 7 f. clo^)> ■mm*. fi jr. *8 y. m >- i_ J L MYWORLDOF" KNOWLEDGE IMPRESSIONISM NathaniH Hurra J 4 *S IWo t a 1 in» II feni *> <g > ■A <* w 'V* fe V «f < f if a Hamlyn Modern World Encyclopedia The Hamlyn Modern World Encyclopedia
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 279 8 OCT 16 Frs CORBEILLE Alr-Liqulde 525 3 B S N Gervais Danone 1035 unch CSF < Thomsonat) 502 .1 Cle Franchise des Petroles 228 1.1 Compagnie Financier? Compagnie Generate 370 >2 Credit Foncler De France 468 8 Hachette I Llbralrie < 286.50 1.5 Machines Bull 51 80 unch Mlchelln
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      • 213 8 OCT 1« Dm Aeg-Telefunken 80 80B 4 08 Akzo 1880 -OJ Allz Leben 1100 00 -20 Allz Vers 482.00 13 BASF 130 10 -0.9 Bay H T Whan* 258.00 -4 Bay Vb&nk *****B Bayw ***** -1 BBC 286.20 -28 BMW 168.50 Cassella ***** -0 5 Chem V>rw 254 00
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      • 96 8 OCT 16 Frs FORWARD MARKET Arec 291 1 Arbed 1428 38 Astur 356 unch B rase an 960 32 Bru-Umb 1030 20 Canpac 1268 8 Cock 219 unch De tWrs 353 -4 KbfS 1695 -15 Eltclrobel 5160 -70 Gb-Inno-Bm 2060 -40 Gev 1250 unch Hobok 2580 -20 Petro 5310
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      • 211 8 OCT 16 Fls AJBN ***** -75 A hold 71 50 -08 AJlZO 20 20 -0.4 A VEV 82 30 0.3 Am fas 107.50 1.7 Amrobnk 64 90 -2 Bergoss 37.50 Berk 71 50 1.5 Bols 60 50 0.9 HorsuznIJ 228 00 -5 Hurhm&nn 65 30 unch Bienkorf 46 50
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      • 186 8 OCT It Franc* Actions Sulsses Alusutsse Br AlUSUllse Reg Brown Bowl Br. Clba Geigy Br Clba Geigy p C Clba Geigy Reg Credit Suisse Br Credit Suisse Reg Elektrowatt Br George Fischer Br Globus Pc Hero Br Hoffman La Roche 1/10 Holderbank Br Interfiled Br Jelmoli Br Motor-Columbus Nestle
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      • 104 8 OCT 16 Lire Ante a 50 -05 Assoc Oen ***** -100 Bastofi 706 35 OntraJe ***** -80 Fiat 2551 109 Kinsider 81 75 -0 75 G*n Immob 2184 24 IFI Prt 4080 -80 Ilalcementi ***** -850 ItAlf&S 1370 uneh llalsidrr 335 -0 25 Magntu M Pf 525 50 -4.5
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    • 222 8 OCT IC C* AbllltM 22. .1^ Aican 43 s Algoma 40S Bank Mont 29 >» S Bank Nova Scotia 33 IS Bell Tel 1>S Belli Corp BP Can Ltd 45, IS Brascan 38'» Camp Red Lake 86 -V* Can imp Bk 29'. Can par 51 IS Canpac Inv Pf
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    • 310 8 OCT 16 Rand INDUSTRIALS A Alpha 395 unch Abercom 375 -5 AE And CI 910 20 AMIC 2450 SO Barlows j 155 Cg Sugar 1700 CNA 625 unch Currir Finance 240 -10 De H«rs Ind F-dcon Edgars 8800B unch Eveready Fed Volk 515 4-5 Fugit 235 unch Gar man
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  • Page 8 Advertisements
    • 169 8 Snacks for your island treks nmi 11. Take your pick: Curry Puff Chicken Pie Gateau Cake Hot Dog Hamburger Sandwiches Roast Beef Bun Pack Lunch Open: Monday Friday 10.00 a.m. 6.00 p.m Saturday, Sunday Public Holidays 8.00 a.m. —6.00 p.m. A Dolphin Snack Shop Apollo Enterprise* lid 'G-31. Ground Floor.
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    • 179 8 Where to wine, dine and entertain f*Uir^m JAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights. Open daily;: 12 noon 3 p.m. 6 30p. m— 10 30p. m For reservations call *****77 ik(S) t'lKlin i'nrk Slktiiliiii* Siii^ii|M)i'c SHERATON HOTELS AND INNS WORLDWIDE Nassim Hill Singapore '025 Te< *****77
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    • 136 8 See Page 4 for Asian stocks and Page 9 for New York prices Do-lt-Vtxirsetf Barbecue •I X* *> Choose wur weapons. Every Friday and lust choose what you want and bartoecue it Meat seafood salads sauces Chefs hat and apron available 120+ for adults $14+ for each child under 12
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    • 153 8 QQQGQ Inn Of Happiness Now open at the Hilton Dine Dine Cantonese style. Szechuan style. The Inn of Happiness brings together the best of two culinary worlds. Two kitchens. Two chefs. All to double your dining pleasure, with that famous Hilton service. For reservations, please call 737-2233. MM HttlON INTERNATIONAL
      153 words
    • 241 8 Lunch at the n i Fashion HappenM*!: Dalr 18th Oct 1980 k> ft# 3^ SfNGA B lAT* > **i. MANUfACfUKW •m l L Asuka (asimlll j 3 e ELSA YEO MODEL AGENCY CoOnflnator IVOR ISAAC Lunch and fashion every Tuesday and Saturday Showtime: 1.15 pm. a AA? A. I tOCKplf
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  • BANKING AND FINANCE
    • 455 9 THE US dollar yesterday firmed against major European currencies but was little changed against the yen in late thin trading aided by firmer Eurodollar deposit rates, dealers said. It rose to a late 1.8360/70 marks from its 1.8340/45 opening here and 1.8345/50 in New York on Thursday, to
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    • 143 9 Euro rates LONDON Eurodollar deposit rates yesterday traded around a quarter point higher than Thursday's close following comments from Salomon Brothers economist Henry Kaufman. Mr Kaufman predicted continued high inflation and said double-digit yields on Wng-term US bonds would remain for the foreseeable fature. Consequently, period rates opened point higher
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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.
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    • 189 9 ASIAN RATES ASIAN currency deposit interbank rates as at close on Oct 17: US Doll«ro<8pot) Offer Bid 7 days 13 3/10 13 1/16 1 month 14 13% 2 months 13 5/18 13 3/16 3 months 13 7/18 136/16 0 months 13 7/16 13 6/16 9 months 12 15/16 12 13/16
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    • 48 9 RANGE of prices offered by discount houses on Oct 17: Overnight: 7V 4 Call deposits: to Cloainf Buying S«Uia( 3-month Treasury bills 7'* 7 3-month Bank bills 13 3/16 131/16 3 months CD IS 1 13 6 months CD 12 15/16 12 13/16 Source: National Discount Co
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    • 46 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Oct 21 to 24: Offered: $50,000,000 Applied for: $176,200,000. Allotted: $50,000,000. Accepted bids: 196.24 and higher bids in full. Average rate ef discount en allotment: 6.800 per cent per annum.
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    • 1330 9 NEW YORK A SURGING stock market rally on Thursday was undercut by new worries about interest rates and New York prices ended sharply lower in the heaviest trading since late January. Early in the day, the Dow Jones industrial average climbed nine points and many analysts said the
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    • 214 9 SINGAPORE gold futures yesterday were generally lower. Prompt closed at U*****.50/673.00 a troy ounce, October $670.50/673.00 November $674.00/677.50 December $682.00/40 February $696.00/699.00 April $712.50/714.00, and June $725.00/728.50. Meanwhile, NM Rothschild ft Sans (S'psre) reported that the kilobar market in Singapore yesterday opened at 5544,747 and closed at the same
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    • 36 9 New York 20 65B 21.00B 20 95S 21 30S Zurich 20.80B 2100B 21.30S 21.50S Pri Tin Singapore 20 80B 20 90B 21.206 21.306 Closing prices in US dollars a troy ounce. Source: Credit Suisse
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    • 65 9 ZURICH exchanges closing quotes on Oct 16: US 1.6485 6485 Stg 3 9644 9685 Can -1.4126 4140 D Mk 90.1361 2155 D F1 83 0520 1443 F Fr 39.0409 0877 B Fr 5.6234 6297 DKr- 29.2287 2542 N Kr 33.7462 7770 S Kr 39.4520 4901 Lit 0.1900 1902 A
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    • 42 9 FRANKFURT exchanges opening quotes on Oct 17: US 1.8335 43 (1.8296 8305 Stg 4.421/431 (4.415/425) Can —1.5745/60 D F1 92.12/22 S Fr 110.80/96 Lit 2.107/117 F Fr 43.24/34 NKr-37.63/68 B Fr (com) 6.238 248 B Fr (fin) 6.20/21 Yen 0 8819/34
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    • 187 9 THE US dollar for overnight delivery yesterday closed at 206.20 yen, compared with a 206.70 opening and 207.80 at Thursday's close, dealers said. Trading was moderate, with volume US$7B7 million. The dollar fell to a day's low of 207.50 before it closed at 206.20, on a market rumour that
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    • 299 9 THE DOLLAR yesterday continued to make gains against the major Continental currencies in early dealings on the back of higher Eurodollar deposit rates in fairly active trading. It opened here at ***** 38 marks and moved higher to 1.8365/75 compared to its close in New York of 1.8345/ 50
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  • Page 9 Advertisements
    • 131 9 L w r e> m Morgan Khoo, an obese Chinese tycoon addicted to ice-cream and youthful flesh, masterminds a daring scheme to make himself even more millions First capture the Prime Minister and replace him with a puppet. Second: kidnap ten international politicians attending a top-level conference including the US
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  • 1674 10 BID and offer prices officially lilted and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of J, 000 units, unless otherwise specified. SECTION ONE INDUSTRIAL ft COMMERCIAL Acma
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  • 160 10 SINGAPORE UNIT mwr OUMONTAOU The Commerce i Mr Oct 3.06 M) 3.22 The Savings Fund 1.90 1.00 INCOME BOND UNIT S'pore Prog Fund 1.38 1.43sd (Carrel pr toM) S pore Sec. Fund 2.07 2.17 Income Bond 1.30 1.31 S pare Invert Fund LTT 1.K MAEA BLMIPLTRA S'pore Equity
    160 words
  • 2736 10 1960 High Low Company Last Sale +orGr*» Div Div Or Gr's Net YTd P/E Vol COOO) Day High Low SECTION ONE INDUSTRIAL ft COMMERCIAL 372 276 149 170 402 84 362 MO 406 540 245 Acma 220 Alcorn 118 Allied Choc 138 BAT 270 Bata 80 Ben
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  • 1825 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 Ilium (3.248 3. «OS> (1) 3 20 Atoea (2.506) (1) 2
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  • 47 10 Traeton Malaysia BM has announced Mr Shariman Rahim's return as deputy general manager sales after a period of secondment to Kubota Agricultural Machinery as managing director. Mr Rahman bin Ibrahim has been appointed to the board of KAM assuming the position of managing director designate.
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  • 690 10 THE balls charged late the Slagapere stock market yea* terday ud seat share prieea risiag sharply theagh their attacks were softeaed nowwhat towards the deee of the day's tradlag. Bath meralag aad alteraaaa seastoas were marked by beavy baytag. Bat preflttaklag
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  • 654 10 WAVES of strong buying interest swept the Kuala Lumpur stock market sharply higher yesterday. At the close, several highpriced and quality issues showed hefty gains. The New Straits Times Industrial ordinary share index, reflecting the firm trend, shot up 22.52 points to 770.68 while the
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  • COMPANY NEWS
    • 589 11 THE Guthrie Corporation is actively exploring several acquisition options in the US, with the prospect of a major deal being concluded by the end of this year. This was disclosed by Guthrie's director and chief executive for its plantation interests, Mr Bernard Lewis, in an
      589 words
    • 427 11 THE future of a diamondcutting plant that was once the showpiece of foreign investment in Malaysia seems assured with the news that Malaysia Mining Corporation is to acquire a 51 per cent stake in it. The plant, Diamond Cutting (Malaysia), was forced
      427 words
    • 150 11 UNITED Eagineers has announced the appointment of Mr Ghafar Baba to its board of directors. Mr Ghafar was a former Chief Minister of Malacca, and is chairman and director of several companies. "Mr Ghafar's experience will be brought to bear on United Engineers' range of activities which include
      150 words
    • 645 11 MEGA Chemicals' acquisition of Johore Oil Palm Plantations (JOP) and Palm Acid Products via a share exchange is expected to boost its earnings in the current year. Mega forecasts group pretax profits for the year to June 30, 1981 at $1.82 million
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    • 356 11  -  By CATHERINE ONG HIGHER capital allowances following a claim for accelerated depreciation allowance on its capital expediture have boosted earnings at Guinness (Malaysia) Bhd to an all-time high. For its financial year ended Aug 31, the leader in the Malaysian stout market reported a 71
      356 words
    • 463 11  -  By BIBIANA CHOO THE directors of Amoy Canning have succeeded in petitioning the Hongkong Supreme Court not to sanction the scheme of arrangement whereby it will become a wholly-owned subsidiary of Hongkong-based Prosperland Housing under section 166 of the Hongkong Companies Ordinance. Amoy's directors, represented
      463 words
  • Page 11 Advertisements
    • 491 11 FUN WITH CHINESE CHARACTERS VOLUME 1 $5.80 Cartoonist: Tan Huay Peng well-known as Peng, for his cartoons in the press and national campaign illustrations for the Ministries and the Government departments. He was the art director for the Straits Times from 1955-1961. Presently he is a free-lance graphic designer. The
      491 words

  • 196 12 AP TWO-WAY trade between Taiwan and the US will hit US$56 billion by 1969, director of the Board of Foreign Trade Shao Hseuh-Kun predicted on Thursday. Addressing the SinoAmerican Commerce and Industry business forum, an unofficial two-day meeting organised by Taiwan's traders, Shao estimated
    AP  -  196 words
  • 118 12 AFP MAJOR Japanese business corporations are expected to raise more than one trillion yen in fiscal 1980 by the issue of new shares, sources in securities houses said on Thursday. 4 This will be the first time in eight years that such fund
    AFP  -  118 words
  • 463 12 Reuter MALAYSIA is expected to maintain its steady growth despite the economic recession in major industrialised countries, the finance ministry said in its anmmi economic report released yesterday. The report, published ahead of the tabling of the annual budget, said that the downturn in growth in
    Reuter  -  463 words
  • 769 12 LONDON, FYi. Share prices closed mixed after moderate two way trading throughout the day with Coral and Grand Metropolitan featuring. At 3 pm the FT index was up 1.4 at 481.8 Canadians were firmer while US shares finished lower. Government bonds/' drifted lower as the acute lack of
    769 words
  • 137 12 UPI IRANIAN leaders have told Palestinian guerilla leader Yasser Arafat they would block the Strait of Hormuz or attack an Arabian Gulf state if they were forced to do so as a result of the war with Iraq. The newspaper A 1 Anbaa said Mr Arafat
    UPI  -  137 words
  • 223 12 UPI EXILED Kampuchean Prince Norodom Sihanouk said yesterday he will never again play an active political or military role in trying to bring peace to his ravaged land despite renewed pressure from China to do so. Chinese Communist Party leader Hua Guofeng told visiting French
    UPI  -  223 words
  • 168 12 Reuter THE SUGAR harvest in the Ukraine, which accounts for about two-thirds of the Soviet Union's total beet crop, is being severely hampered by wet weather, the agricultural newspaper Selskaya Zhizn said yesterday. Because of cold, wet conditions this year, farmers began the
    Reuter  -  168 words
  • 261 12 THE pound sterling and the US dollar were in strong demand on active world currency markets yesterday, in contrast with the weakness of the oncemighty West German mark. Both the pound and dollar were helped by expectations that high interest rates
    261 words
  • 453 12 UPI IRAQI forces spearheaded by armoured columns advanced to within two km of Abadan yesterday and claimed they had the Iranian oil refinery surrounded. Iran said civilians and soldiers dug trenches in the streets. The Iranians appeared to be using divebombing attacks by American-made
    UPI  -  453 words
  • 247 12 AP IN ITS first major attack on Southern Lebanon in two months, Israeli paratroopers and infantrymen destroyed two Palestinian guerilla bases and killed at least nine guerillas, the Israeli military command said yesterday. A spokesman for the Palestine Liberation Organisation in Beirut made no
    AP  -  247 words
  • Page 12 Advertisements
    • 173 12 NOTICE OFFICIAL NOTICE Proposal to change OF SHIP'S NAME We Deneb Pte Ltd of Suite 1101 A 11th floor, Marina House Shenton Way, Singapore hereby give notice that In consequence of our intended change of name of the motor vessel "Guten.fels" we have applied to the Registrar of Singapore Ships
      173 words
    • 426 12 W«w available aa Update ta... The key to under standing ASEAN The ASEAN Report Update Published by The Asian Wall Street Journal The ASEAN Report gave businessmen for the first time a key which opens the door to doing business with the countries within the Association of Southeast Asian Nations
      426 words
  • Page 12 Miscellaneous
    • 165 12 DURING the next seven days, thundery afternoon showers are expected on 4 to 5 days. The showers may be heavy on 1 or 2 days. Showers and widespread rain may also occur on 2-3 days during the last week of the month. The rainfall for the first 14 days of
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  • LEISURE TIMES
    • 756 13  -  By PATRICIA GOH DID YOU ever think that the song "Deep Purple" was a hit originally popularised by Donny and Marie? Well, think twice, because that song's been around since 1937! It was written by Peter de Rose and Mitchell Parish (or Larry Clinton's big
      756 words
    • 288 13  -  PONG MEW LENG IMAGINE a big shed 'all dressed up' to look like a giant beer tent. Imagine again some 800 merry-makers drinking barrels of beer, singing and laughing, dancing and swaying to the beat of the music. Sniff around; allow your nostrils to be teased, mercilessly, by
      288 words
    • 253 13  -  ENTERTAINERS PETER WONG THE Follies Montmartre are back again at the Mandarin Hotel with high kicks and new tricks. They bring with them the gaiety of France. Their presentation was similar to that of their last stint here. A slide was shown at the back of
      253 words
    • 612 13  -  R.D. FATHER has a new image. He's no longer the nine-to-five grump who comes home, barely nods at his children and disappears behind a martini until his wife has gotten them safely tucked in for the night. These days, dad's taking an active role, being in the
      612 words
    • 345 13  -  COLLECTING By LEE YOKE MENG rrs ANTIQUES tad mare uttqM these days with almost every top executive here eelleetor of seme uuuJ ar «M thlag sr •toer. Fram toe kuIMM palst •f view, toe leadlag aaetlsneers averseas are eajsylag a baamlag time.
      345 words
    • 614 14  -  By RONALD KOW MOKHTAR DAHARI has returned. That was the best piece of news for Malaysian soccer this week when this star striker came out of semi-retire-ment and joined his national team to kick off the Merdeka Cup football tournament. With Mokhtar, of course, comes
      614 words
    • Article, Illustration
      81 14 GREEN-keepers can mv sigh with relief. Available now are Stn hurt's Pro-Am golf shoes which have rubber studs Instead of traditional metal spikes. The Pro-Am shoes are specially designed with IM-edd studs which provide a better grip than metal spikes. Able to withstand all weather conditions, the
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    • 1270 14  -  A PITY THE STANDARD OF TRIM IS POOR MOTORING with Hermes DO YOU remember the old Alfa Romeo 1750 GTVs? They came on the scene in 1969 to do battle with the BMW 2002s and the then formidable Datsun SSS. You can still marvel at the car's
      1,270 words
    • 672 14  -  Imagine all your chips left you with a single putt. That is no fantasy dream at the Golf Digest Instruction School where you will learn how to hit that deadly little chip up close for a single putt; and you will be shown how to
      672 words
    • 467 14 TWELVE top golfers will storm the French Saint Nom La Bretche course for the coveted US$6O,OOO 11th Lancome Trophy Golf Tournament. The tournament teedoff on Thursday and will end tomorrow. Three of the invitees are top in their field Johnny Miller (the current
      467 words
    • 90 14 AP THE JAPANESE yesterday approved la principle Nagsya's bM far the IKB sunnier Olympic games m c—<m— the city, Japan's fearth largest, eat projected eests te stage the games. Edaeattsa Minister Tatsos Tanaka will head graapa to stndy final details, Inrladlag finances, facilities far the games
      AP  -  90 words
    • 846 14  -  THE EXECUTIVE JOGGER By PEEBLE AS YOU FLIP through the pages of major running magazines, you'll find advertisement after advertisement heralding "required" products for the would-be runner. Quite aside from such basics as shoes and shorts, today's jogger can carry key and money sacks that attach to
      846 words
    • 402 14 TODAY GOLF: Keppel. A new competition has been added to the Keppel fixtures for this year. The Vice-President's Team led by Johnny Loh competes against Vice-Captain Michael Aloysius and his Team in a four ball best ball strokeplay event which will tee-off from the Ist and 10th
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  • Page 13 Advertisements
    • 126 13 BUSINESS TIMES GIVES YOU THE EDGE CLASSES at The Golf Digest Instruction School will commonco next month. CHARMAINE CHAN hes all the details of this three-day course which will be held in the Philippines. Will Johnny Miller achieve a hattrick in the Lancome Golf Tournament? AVAILABLE now golf shoes with
      126 words
    • 10 13 BUSINESS TIMES When we say business we mean just that
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  • Page 13 Miscellaneous
    • 432 13 WHAT WHERE CONCERTS THE Sbgapare Symphony Orchestra will give another performance at the Singapore Conference Hall tonight (the first was performed last night) with Soloist Janis Vakarelis and Guest Conductor Eduardo Rahn. At 8.15pm. FILM SHOWS TWO Malay films will be presented at the Toa Payoh Library's Lecture Hall in
      432 words