The Business Times, 8 November 1980

Total Pages: 14
1 14 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 111/1/89 SATURDAY, NOVEMBER S, I*B* 50CENTS
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  • BRIEFLY...
    • 57 1 AP LONDON, Fri. Gold prices slumped below US$6OO an ounce for the first time in five months today as the US dollar surged ahead on the strength of higher US interest rates. At noon, gold was quoted at a median $589 an ounce in London after plunging steadily
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    • 56 1 AP AUSTRALIAN Foreign Minister Tony Street's visit to Singapore has been postponed because of the "absence of relevant ministers during the next two weeks", the Australian High Commission said yesterday. He will, however, visit Indonesia, Malaysia, Thailand and the Philippines before the new Australian Parliament meets on Nov
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    • 58 1 UPI MANILA, Fri. The Philippines will ask the United States to prosecute two Americans who instructed Filipinos in bomb-making and urban guerilla warfare in the Arizona desert, President Marcos said today. The two Americans, San Francisco businessman Steve Psinakis and another believed to be an ex-soldier, were implicated
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    • 62 1 UPI WASHINGTON, Fri. Columnist Jack Anderson says the Justice Department is investigating several cases of suspected leaks of sensitive information to Russians by US officials and private individuals, including one by a White House official. Mr Anderson said "a major spy scandal may be developing, its proportions unmatched
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    • 70 1 Reuter LONDON, Fri. Oil ministers of the four African Opec producers have scheduled a meeting in Algiers tomorrow and Western oil company executives said one topic may be the oulook for a possible price increase. Disclosing that the meeting between Algeria, Gabon, Libya and Nigeria would be
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    • 68 1 UPI MOSCOW, Fri. The Soviet Defence Minister said today the Kremlin will work to frustrate plans for US military superiority, a marked contrast to previous conciliatory remarks aimed at President-elect Ronald Reagan. Marshal Dmitry Ustinov opened the traditional Revolution Day parade with a hard-line speech calling for armed
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    • 48 1 Reuter HONGKONG, Fri. Britain's independent Laker Airways was today refused permission to fly to Hongkong by the colony's air transport licensing authority. There were not suffiecient passengers at present to justify Laker flying the route, the authority said in a statement after a three-week inquiry. Reuter
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    • 31 1 Reuter MANILA, Fri. Capital gains tax on stock market transactions in the Philippines has been reimposed after a 10-year break, prompting some complaints from investors and brokers. Reuter
      Reuter  -  31 words
  • 134 1 Rises Indices Sel Properties 1690 60 Nov 5 Nov 7 K L Kepong 530 40 B.T.Indicator: *****.*****28.26 API 318 28 Industrials: 695.35 686.21 High A Low Perak Carbide Syn Resins 274 203 870 20 17 15 Finance: Hotels: 1199.41 1181.88 601.81 597.57 Kulim Msia 248 15 Properties:
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  • Article, Illustration
    154 1 Rises Indices Sel Prop 1700 50 B.T. Index: Nov 5 Nov 7 KL Kepong 540 35 *****.*****08.07 B Lintang 414 28 Industrials: ***** 820.74 Kempas 660 25 Finance: 1163.07 1152.92 Dunlop Est 470 22 Hotels: 392.27 392.17 Properties: 679.42 685.08 Fans Tins: 529.23 523.63 A Amal Tin 1480
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  • 698 1  -  METEORIC RISE IN PRICES By BIBIANA CHOO PEGI Malaysia has announced two acquisition proposals involving a heady M 5109.06 million which will be paid by the issue of 36.36 million new Pegi shares. The first is the proposed acquisition of 21.19 million ordinary shares of Dunlop
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  • 257 1 THE Stock Exchange of Singapore (SES) is unlikely to suspend a local stockbroking firm which has reported a theft of shares worth $5 million. A SES spokesman said it has approached partners of the Arm for more details but refused to comment further as "it
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  • 521 1 ACTIVITY in the construction industry may have reached is optimum level. The value of buildings completed in the private sector last year was 1496.5 million, a mere 10 per cent increase over that of 1978 and about the same as that in 1975, without
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  • 280 1 PIONEER companies will have the option of retaining the existing reducing balance method of accounting for depreciation when new legislation replaces it with the straight line method. The Income Tax (Amendment No 2) Bill, read in Parliament for the first time on Oct 31, seeks to institute
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  • 271 1 IT vu a keen tassle at the Slagapore stock market yesterday but the bean won the day. Trading far the meat part wai erratic aid share prices flactaated qalte slgalfleaatly, reflecttag the aacertalaty sf investors. Althaagh the market made a (airly promising start, sellers
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  • 364 1  -  By LEE YOKE MENG UTILISATION of manufacturing capacity fell sharply in the third quarter of this year because of a lack of orders and a shortage of labour. In the latest official survey of business expectations, 65 per cent of the companies reported
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  • 45 1 Business Times starts a Labour and Training page from today. The page will be published fortnightly on Saturdays on page 3. It will highlight and inform on developments in industrial relations, wage trends, personnel management, industrial training and occupational safety among others.
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  • Page 1 Advertisements
    • 7 1 Your Dictionary off Business 0 J :<»W«
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    • 89 1 international sports events of 15 countries In America, Japan, the Middle-East, the Asean and European countries, XL is the recommended energy drink for international sports events. Now available at all supermarkets, emporiums and other outlets. XL my favourite energy drink for training and in competition Said Ms Grete Waitz World
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    • 66 1 Leader... page C Baaaasziz LEISURE TIMES ISETAN receives great far staff training 2 US Uatoas expect aanalt by ffosf t,. 1,, S MEAT aai dlary preface sWtage t THE face ef (anniag la the EEC 1 MANILA latredaees aew tax iaeeittvei GOOD YIELD to taerease stake la Daatop Holdings 11
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    • 48 1 \M\\vss T"% 9NGAKKE Times PerocJcois Publication I FOR PEOPLE WHO MATTER when you ask a lot more from life,ask for the best... Old Grand-Dad. TZ/e Ijcad of bourbon family~) I if* 'Vkti »rx: m t. er-> i v 22 M 4k v m 'A ■m a JP l^aJjiainl
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  • TRADE AND INDUSTRY
    • 470 2  -  By SIOW LI SEN ISETAN has become the first department store to receive a grant from the Skill* Development Fund. The SDF will subsidise nearly 40 per cent of the cost of sending 24 assistant supervisors, supervisors buying and sales coordinators to Tokyo for two months
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    • 160 2 SINGAPORE Island Country Club has installed one of the largest solar water heating systems in Singapore as a step towards cutting operational costs and conserving energy. Fuel consumption of the club last year amounted to $13,000 and it expects the bill to double this
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    • 151 2 AN Australian company, K D Binnie Engineering, has produced a vertical tube bending machine. The Bini vertical bender will be exhibited at the Australian national stand at the Machine Asia Metal Asia exhibition to be held at World Trade Centre from Dec 8 to 12. With a
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    • 435 2  -  By ALVIN TAY THE lifting of the 30 per cent duty on imported goods vehicles on Aug 1 this year has boosted sales of diesel trucks by Tan Chong Industrial Machinery. Since the duty was lifted, the company has sold 100 trucks. Of
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    • 238 2 THE Vocational and Industrial Training Board is conducting a survey to identify the training needs of Industrial Technical Certificate engineering graduates. This is the first in a new series of surveys to be conducted by the VITB. The information will help the board
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    • 552 2 AIR New Zealand's DClOs are now flying to Singapore three times a week. The airline flies twice-weekly to Singapore on Tuesdays and Saturdays, and the new service has been slotted in on Thursdays. Air New Zealand first started flying to Singapore in April 1966, with a onceweekly DCB
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    • 323 2 SEMINARS AND COURSES Nov 10: Getting the Most out of Meetings, Hilton Hotel, Consulasia Nov 10-11: Marketing Strategy and Profitability, Hyatt, Price Waterhouse Associates Nov 10-14: Ist World Direct Marketing Congress, Mandarin, Industrial and Trade Fairs Nov 11-12: The Law Relating to Company Directors, Hilton Hotel, Consulasia Nov
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  • Page 2 Advertisements
    • 147 2 Leader... Page I From 15 November, our 50th branchwill be right behind vou in Qementi. i m s On 15 November, the United Overseas Bank Group opens its 50th branch in Singapore at 65/67/69 Block 443 Clementi Avenue 3, bringing m to the Clementi district the expertise and experience of
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  • LABOUR AND TRAINING
    • 2185 3 This first fortnightly Labour and Training page covers the main issues of the National Trades Union Congress (NTIJC) Ordinary Delegates Conference which ended early this week. This is the- text of a paper on performance appraisal presented by the National Productivity Board for the conference. THIS
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    • WORKSHOP REPORTS
      • 314 3 THE appraisal system should not only be used to help motivate our workers to strive and excel in their work performance, but should also form a basis of determining their longterm career development needs. The workshop recommends that: The appraisal system be worked out through joint consultation between
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      • 268 3 THE workshop looked at the need to enhance the contribution of young workers to the labour force. It recommended that it is important to inculcate early in our youth the values of diligence, cooperativeness and social and civic consciousness. The workshop recommendations include: Government, management and
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      • 323 3 THERE is a minority of workers who have undesirable work attitudes and urgent steps must be taken to change such bad work attitudes. This can be achieved by consultation and cooperation between unions and management. To encourage workers to work hard and excel, they must be properly motivated
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    • 826 3  -  By FONG MEW LENG THE National Trades Union Congress (NTUC) Ordinary Delegates Conference, attended by some 700 delegates, saw renewed commitment to the labour movement's plan (or this decade. More significant, it revealed strong union support for better labour quality through the upgrading and diversification
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  • Page 3 Advertisements
    • 98 3 ..?*mi 1 bV cta ti'\nQP° I jr raf ™S SINGAPORE WOODCRAFT V MFG. CO. PTE LTD S pore's No. 1 < Antique Furntfure Centre" Factory 30. Ale»an<jra Terrace. oft Pasir Paniang Road Singapore 0511 Tel *****9. *****8. *****6 Showroom 30 A Alexandra Terrace, off Pasir Paniang Road. Singapore 0511 Tel
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    • 206 3 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 carpet the more powerful the charisma, and additional factors come into play such as rarity, intellectual clarity condition.
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  • RAW MATERIALS
    • 238 4 SLIGHTLY steadier conditions were noted during the holiday-shortened week as prices closed three cents up on balance with volume fair, says HaiMay, Catler, Bath A Ca in its weekly review of the Singapore and Malaysian rubber markets from Oct 30 to Nov 7. Hedge demand against continued Soviet
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    • 193 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) CtttN yarn: China Blue Phoenix 20s 2.160; 32s 2,900, 40s 3,000 (per bale of 400 lbs). Piece g»«da: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 328 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 0.95, 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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    • 143 4 Reuter THE gold price is likely to fluctuate widely in the next few months as a result of continued political concern, Degussa Ag said yesterday. Its latest monthly precious metals report said US inflation is still tending upwards and added expectations of higher US prime rates
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    • 39 4 Rubber: Nov 7 Singapore: Nov: 294.00 cents (down 2 cents) Malaysia: Dec: 308.00 cents (down 1.25 cents) Tin: M 52,030 (down $23) (equivalent to $33.57 per kilo) (down 38 cents) Official offering: 257 tonnes (up 62 tonnes)
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    • 68 4 THE Straits tin price in Penang fell Ms 23 to $2,539 per picul yesterday, $115 below the International Tin Agreement celling, dealers said. The weaker sentiment was caused by the sharp overnight fall In London and reduced general baying from all sources. Hie turnover of 257 tonnes accumulated
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    • 311 4 The 81agapare market closed weaker yesterday with November One RSS buyers quoted at 294.00 cents per kilo, down two cents from Wednesday's close, dealers said. The morning market fell 2.50 cents on some speculative selling, they said. Prices were fractionally higher in quiet afternoon trading but fell after the
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    • 332 4 RAS prices In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int 1 R.S.S. prompt f.o.b. 283 00 294 OON Int. 1 R.S.S. November 294 00 294.50 Int. 1 R.S.S. December 300.50 301.00 Int. 2 R.S.S 2».00 286 OON UK/Coot 284.00 285 00N Int. 3 R.S.S. 282.00
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    • 123 4 NOON SSR and SMR price* yMtnUy; RA8 NorMbtr I)#ce tx r (Corr.il Mtkl (Forward Mtfc) Bayer» Seller* Buyer* Salter* SSR 20 (1 ton pallet) 248 00 250 00N 2*8 00 *****N SSR SO (1 ton pellet) 245 00 247 OON ***** 248.00N MRELB SMR CV (1-ton pallet)
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    • 260 4 Reuter THE copper market is expected to take Ronald Reagan's presidential election victory in its stride, with any reaction modest and shortlived, metal analysts in New York said. While they agreed the election results will have no more than a momentary impact
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    • 176 4 CHINESE Pnfcee Exchange, Slagapare, flidsg prim per IN kg yesterday: C»e—l ad: Bulk fob $128.00 sellers, old drum (in aecood hand drum) fob $136.50 sellers, new drum fob $143.00 sellers. Cspra: Mixed (loose) 172.75 buyers. Pepper: Muntok white pepper fob AsU NLW $425.00 sellers, Sarawak white pepper faq
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    • 203 4 CHICAGO soybean futures closed down the 30 cent a bushel limit on Thursday in the first five contracts to off 16 cents in deferred November. Unfilled sell orders at the close totalled an estimated 5.5 million bushels of January, 2.0 million of March, 1.0 million of November and 600,000
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    • 199 4 WHEAT futures in Chicago closed 15 to TV* US cents a bushel lower in active trade on Thursday. Prices settled near the bottom of a 14V* cent range. Local liquidation in sympathy with the limit decline in soybeans and sharply lower corn futures forced prices to the day's lows.
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    • 816 4 COFTEE: Robusta futures managed a slight recovery to close the morning off earlier 4V4 year lows but still with losses from Thursday of £18 to £5 per tonne. Turnover was 1,756 lots including five options and around 350 lots of cross trades. January ended £18 off at £1,007
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    • 115 4 THE Malaysian palm oil market eased on some selling yesterday, dealers said. In November the Central Region eased M 57.50 to $870 per tonne and South $25 to $885. The refined market saw some scattered small selling. The market will be closed on Monday and will reopen on
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  • ASIAN STOCKS
    • 691 4 TOKYO TOKYO was directly hit by the sudden slump in the New York market in the wake of Ronald Reagan's victory. The one per cent rise in the US prime rate contributed to the drop, leaving investors again with a clouded view of financial prospects. In Tokyo
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    • 390 4 THE market opened very weak after the unexpected overnight rise in US prime rates. However, after the initial drop the market firmed as money continued to flow in from the Land sales. The Hang Seng Index was down II points at 11am and dropped another 16 points by lunch-time
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    • 279 4 SHARE values in the mining, oil and gold sectors dropped sharply yesterday in moderate trading as profit-takers reacted to (alls in the London and New York stock exchanges, higher overseas interest rates and a bullion price over US$2O off for the second day in a row, brokers said. NOV
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    • 268 4 TRADING was active yesterday with most stocks closing higher, brokers said. Asia Fibre rose five baht to 199, Mah Boonkrong and United Flour Mill each gained (our to 172 and 160 baht respectively. NOV 07 Bahu Asia Credit Asia Kibre 119 5 Ayuthaya Inv And Trust 81 SO 2
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    • 116 4 THE market was down to low levels yesterday as mining joined the poor showing by commercial-industrial and oil issues. NOV 07 Pesos Acoje Mining «rJ4 -0 0004 Alias Con A Atlas Con B 36.50 -IA Baguio Gold 0087 ♦0 0003 Benguet Con B BP' Goodrich 92 unch CDCP Z
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    • 55 4 FINANCIAL TIMES INDUSTRIALS Thursday 478.8 Wednesday 487.0 Week Ago 492 8 DOW JONES AVERAGE INDU 8 TRIALS Thursday 836.41 Wednesday »3.18 Week Ago »17.75 H.K.HANG SENG Friday 1546.77 Thursday 1582.86 Week Ago 1406.86 SYDNEY INDUSTRIALS Friday 750 41 Thursday 753.64 Week Ago 747.94 ALL ORDINARIES Friday 1017.98 Thursday
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  • Page 4 Advertisements
    • 298 4 Quality Books from THE HAMLYN BOOK OF CROCHET Crochet is one of the crafts which is becoming increasingly popular and this book sets out to introduce the reader to all the basic techniques from holding the hook and yarn to being able to do a range of stitches. The instructions
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  • OVERSEAS
    • 368 5 Reuter GOVERNMENT borrowing in the next financial year starting in April will be allowed to rise while the economy is in recession, British government sources said. Following three special cabinet meetings on next year's public spending, ministers have agreed not to impose bigger cutbacks
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    • 284 5 AFP FOURTEEN major organisations involved in Hongkong's textile and clothing industries have come out strongly against any further trade curbs developed countries may be contemplating in negotiations on the future of the Gatt multi-fibre arrangement (MFA) which expires in December next year. In a 27-page
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    • 806 5 ARRIVALS Service Local Operator Number Time From PAA PA005 0045 JEK/SFO HKG MAS MH601 0630 KUL FT FT71 0710 JFK/ORD/KUL SIA/BA SQ/BA17 0710 LHR/BAH SIA SQ101 0815 KUL MAS MH621 0835 PEN MAS MH671 0930 PEN/KUL MAS MH605 0830 KUL SU SQ211 1000 HLP CAL CI814 1000
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    • 270 5 Reuter FORMER Kampuchean head of state Prince Norodom Sihanouk says the recent United Nations resolution calling for an international conference on Kampuchea is hypocritical and dangerous for the future of the Khmer people. Prince Sihanouk said in an article published yesterday in
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    • 688 5 NYT THEIR worst fears about the US presidential election realised, leaders of the trade union movement now expect an assault against many of organised labour's most cherished programmes and interests by a Reagan White House and conservative Senate. "We will have to mobilise ourselves as we
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    • 369 5 Reuter UPI US MILITARY experts firmly believe Iraq seeks limited goals in the Gulf war, main-' ly the control of the vital Shatt Al-Arab waterway, and not the dismemberment of Iran itself. Pentagon officials discounted recent press reports, some based on comments by
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    • 205 5 Reuter THOUGH some Kampucheans might be surprised to hear it, the international organisations that launched an operation to rescue the country from starvation last year have decided the emergency is over. Subject to assessments of the likely overall food deficit for 1981 and to the
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    • WORLD IN BRIEF
      • 547 5 Agencies AUSTRALIA has agreed to sell China at least 1 million tons of wheat next year, diplomatic sources said yesterday. The agreement was reached after two weeks of talks between Chinese officials and a delegation from the Australian Wheat Board, whose members immediately left for home after
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    • 224 5 AP THE US federal work force may be trimmed by as least 200,000 people under the Republican administration of Ronald Reagan, it was reported on Thursday. "We've been talking about maybe 2.7 million or 2.6 million instead of 2.8 million" federal workers, the Washington Star
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    • 339 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Dong Bee (0600 hauls 35m west) 6/7 Embry (tide, after Gotong Royong) 19 Frotario (1800 after Cloverbank) 47 Kota Bali (Passenger) (0700) 10/11 Lumut (1800) 20 West Manoloeverett (1700 after Aristagelos) 33/34 Toyofuji Maru (ro/ro) (after Nedlloyd Sinoutskerk) 3/4 Strathelgin (0800 after
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  • Page 5 Advertisements
    • 29 5 TRAVEL SERVICE!! HOLIDAY LA FLEUR TRAVEL S.T.P.B T/A267 re.:*****51 -*****11 Holiday Inn Hotel. Suite 4. 4th Floor Scotts Road. Singapore 0922 BUSINESSMEN!!! TRAVEL ECONOMICALLY WORLDWIDE ALSO CAR TRANSFER AVAILABLE
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    • 285 5 A successful conference needs a great hotel. A great hotel needs a Philips Conference System The Philips Conference System ensures the ultimate touch of professionalism and success to every conference and every conference facility. Because even if your hotel has the capacity to hold hundreds of delegates attending conferences and
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  • 366 6 TALKING TO Singapore's architects, perhaps simply as one architect to fellow architects, Mr Ong Teng Cheong light heartedly sketches a few visions of the future city. Some are clearly too futuristic. It will be a long while yet before local architects will get a crack
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  • 264 6 IT IS GOOD to know that the Skills Development Fund has extended its sphere of aid to include the training of department store personnel. Local stores have a lot to learn from their counterparts in developed countries. Although expertise in these areas will be
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  • 1594 6  -  POOR HARVEST, LONG MEAT QUEUES Shortages of meat and dairy produce, widespread for years in many parts of the Soviet Union, appear to be getting worse, and the Communist Party leadership has admitted that no quick improvement is in sight. JOHN MORRISON looks 1 into Russia's
    Reuter  -  1,594 words
  • 882 6  -  FORUM, By PETER J SCHUYTEN NYT DRAMATIC evidence has come to light suggesting that the Soviet Union has made major gains in semiconductor and computer technology. For years it had been believed that the United States held a 10-year edge over the Soviet Union
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  • Page 6 Advertisements
    • 349 6 ACQUIRE COMMERCIAL and PROFESSIONAL QUALIFICATIONS through Itj I n 11 > Correspondence College LONDON Pitmans the oldest correspondence college in UK has since its foundation in 1840 been guiding, tutoring and leading students from all over the world to commercial and professional qualifications that have opened doors to successful careers.
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  • Page 6 Miscellaneous
    • 1345 6 Challenge to Lassie LASSIE mm aata the at her layattj til devattaa the «mU sf iptm. ecreee Mi At dully dads iWnit Aa alternative la the ttee, tke story Is Ml ahaat Sperto tow will have a afteraaaa Is the Dick Bartoa the wett-fcaawa eellle which hart time today decMlag
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  • 2170 7 CHANGING FACE OF FARMING IN EUROPE The Economist ii Little boy blue, Come blow up your horn; The sheep's in the meadow. The cow's in the corn. i OR AT least they used to be; now the cow is more likely to be in the
    The Economist  -  2,170 words
  • 726 7 The Economist THE COMMON Agricultural Policy (CAP) is based on three main principles: a single market for farm goods, which means free movement throughout the EEC, and common prices; community preference, enforced by a common tariff wall against imports from outside the community; and
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  • Page 7 Advertisements
    • 191 7 PENGUINS are a Woman's best friend SHADOW OF THE MOON India, that vart, glittering, cruel, mysterious and sunbaked continent, js captured here in e spectacular romance by the euthor of The Far Pavilions. When India bursts into flaming hatred and bitter bloodshed during the dark days of the Mutiny, Captain
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  • INTERNATIONAL STOCKS
    • 1406 8 NEW YORK RISING interest rates, and expectations of higher rates to come, erased the New York stock market's gains and prices on Thursday ended sharply lower on reduced turnover. Chase Manhattan Bank led most major banks in lifting its prime rate a full point to per cent. Analysts
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    • 210 8 NOV 06 Cf AbiLibt 24 Alcan 43' Alfoma 40 i 'j Bank Mont 31* unch Bank Nova Scoua 32 Bell Tel ll unch Beth Corp BP Can Ltd 38 -1 Brasran 35 Camp Red Lake IS 1 -6'. Can Imp Bk 25 S Canpar 47 •IS Canpar Inv Pf
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    • 328 8 NOV 06 Rand INDUSTRIALS A Alpha 440 -10 A be rcom 375 -2 AE And CI 900 unch A MIC 292SB barlows 1280 -5 Cg Sugar CfeA Currie Finance 272 unch Dp Beers Ind 3200S •100 Edcon 685 unch Edgars Eveready Fed Volk ZZ 545 Fugit 255 unch Hard
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  • Page 8 Advertisements
    • 172 8 See Page 4 for Asian stocks and Page 9 for European markets Where to wine, dine and entertain Snacks for your island treks l K 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.
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    • 200 8 f iXxLa JAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights. Open daily: 12 noon 3 p.m. 6.30 p. m. 10 30pm For reservations call *****77 di.¥) C filling I'ni-k SIK I Hloii i|Mtit■ SHERATON HOTELS AND INNS WORLDWIDE issim Hilt. Smgapo'e 1025 Tel *****77 OPERATED Bv ANA
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    • 87 8 The Great Family Do-lt-Vburself Barbecue JJ-. A Merlin Oil Speciality From Mongolia comes a barbecue more succulent more delicious than any barbecue you have ever tried before. Only at the Singapore Merlin Lunch from 12 noon 2 30 pm at $14 00 per head Dinner from 7.00 pm 11.00 pm
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    • 166 8 ***** Inn Of Happiness Now open at the Hilton Dine Cantonese style. Dine 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. |A| HltiTON INTERNATIONAL?
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    • 202 8 Whatever your taste, the Cockpit Hotel makes it great. Dragon Palace Restaurant Siamese Saafood We're famous (or our Cantonese Cuisine Restaurant The Siamese Seafood Restaurant is as good as Bangkok! Victoria Bar The Coffee-House Relax in an atmosphere of For informal meals and elegant days gone by light-hearted snacks a
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  • BANKING AND FINANCE
    • 461 9 NYT MOST of the major banks in the US raised their prime interest rates a full percentage point on Thursday, to 15V4 per cent, prompting economists to warn that the high interest rate levels posed a serious threat to the economic recovery. "With a 15
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    • MONEY AND EXCHANGES
      • 461 9 THE US dollar firmed up sharply against all major currencies yesterday in the wake of Ronald Reagan's landslide victory. News of a clearer economic policy, particularly against the rising inflation refte, pushed the dollar to 212.70/80 yen in Tokyo. The dollar later moved higher to 213.20/30 before dripping
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      • 164 9 THE US dollar opened higher yesterday, continuing the rise seen overnight as Eurodollar deposit rates which opened steady firmed by around 1/16 to l /s, dealers said. It continued to be helped by US prime rate increases to 15.5 per cent from 14.5 per cent, despite the fact that
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      • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 12.6 per cent.
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      • 187 9 ASIAN ASIAN currency deposit Interbank rates as at close on Nov 7: U8 DolUn(Spot) Offer Bid 7 days 15% 15 3/16 1 month 17% 17% 2 months 17% 17 V. 3 months 17 9/18 17 7/16 6 months 17 13/18 17 11/16 9 months 10 3/16 16 1/16 12 months
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      • 52 9 RANGE of prices offered by discount houses on Nov 7: Overnight: 6V« to 7V«% Call deposits: 6V« to 7V«% Clastac Baying Selling 3- month Treasury bills 6 15/16 613/10 3-month Bank bills 13 15/16 13 3 months CD 13H 13W 6 months CD 13 "A 13 vt Source: National
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      • 45 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Nov 10 to 14: Offered: $100,000,000 Applied for: 1242,000,000. Aliened: 1100,000,000. Accepted bids: $96.26 and higher bids in full. Average rate of discount M allotment: 6.930 per cent per annum.
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      • 63 9 QUOTES on Australia and New Zealand exchanges yesterday: AUSTRALIA: US dollar -1.1679/1.1631 Sterling 0.4813/0.4738 90-day airmail buying rate*: Sterling 0 5053 US dollar 1 2145 90-day forward buying rates. Sterling 0 4846 US dollar —1.17» NEW ZEALAND: Reserve Bank midrate: US dollar 0.9721 Trading Bank Indications: US dollar 0
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      • 315 9 SINGAPORE gold futures closed sharply lower yesterday compared with Wednesday's close in moderately active trading, dealers said. The market was suspended for one hour this morning as prices opened limit down in line with the metal's sharp fall in New York overnight following a one percentage point rise in
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      • 28 9 New York 18.50B 18.80S Zurich 18 50B ***** Prl Thar Singapore 18.SOB 18.80S Closing prices In US dollars a troy ounc B. Source: Credit Suisse, S'pore
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      • 162 9 THE US dollar eased marginally from its early firm levels on profit-taking yesterday, dealers said. Trading continued active into the afternoon with operators holding the view that the US currency will remain firm in the near term as US interest rates continue to rise. The dollar was quoted at
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      • 162 9 THE US dollar for overnight delivery closed sharply higher at 213.20 yen yesterday, compared with a 212.80 opening and 211.00 at Thursday's close, dealers said. Trading was active with volume at US$l.O3 billion. The dollar firmed to a day's high of 213.60 yen in the afternoon on dollar buying
        162 words
      • 41 9 OPENING quotes on Frankfurt exchanges yesterday: US 1 9530 «<i.»eo/«) Sterling 4.743/7« (4.750/7«) Can 1.6439/56 D F1 92.34/44 S FT 111.40/52 Ut 2.125/29 F FY 43.35/40 N Kr 38.80/85 B FY (coo) 6.236/33 B Fr (On) 6.218 228 Yen 0.9144/47
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    • European markets
      • 270 9 NOV 06 Frs CORBEILLE Air-Liquid? 560 -16 B S N Gervais Danone 1070 -5 CSF < Thomson Csfl 503 -9 Cie Francaise des Petroles 228 -CI Compagnie Kinancirrr Compagnie Gfnrrale 415 -3 Credit Foncier De France 450 15 Hachfltf (Libraine) 305 -7 Machines Bull 55 -1 Michelin (B) 809
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      • 165 9 NOV 06 Fls ABN 292 00 -3 Ahold 68 90 -0 4 Akzo 1880 -0.5 AMFY 94 60 -06 Am fas ***** -12 Amrobnk 61 80 -06 Bergoss 33 20 uncfi B*rlc 64 TO -0.3 Bo l\ 57 80 -0 2 Borsumij 200 00 uncti Burhmann 50 00 -1
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      • 228 9 NOV 06 Dm Aeg-Telefunken TO 20 -0.3 Akzo n.3o -02 A1U LrOrn 1120 00 -10 Alls Vers 471.00 -4 BASF ***** -05 Bay H T Wbank 235 00 •5 Bay Vbank ***** -g Bayer ***** -1-3 BBC 270.00 -3.5 BMW 154 50 .1 I'amrlla 315.50 05 C'hetn VVr* *****
        228 words
      • 94 9 NOV 06 rrs FORWARD MARKET Acrr Arbrd Astur Braxran Bru-Uiinb Canpur 330 1360 358 952 1040 1270 *2 -12 -2 -6 unch -30 Cock 195 -2 t* tWr« 383 -17 Ebei 1606 -14 Electrobel 5250 -20 Gb-Inno-Bm 1985 -35 G*v 1272 unch Hobok 2590 50 Prtro 5490 -130 Ryl
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      • 105 9 NOV 06 Lire Anic 10 •4lI Assoc Gen *****0 -3050 Basiogi 800 15 Cen traJe ***** -1900 Fiat 3250 -no Finslder 96 4 Gen Immob 2422 -28 IFI Pri 4910 -289 Ilalcemenli ***** -100 luigas 2025 unch lUlsider 340 uneh Magneli M Pf 729 -11 Mare III Ere 415
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    • 178 9 THE Philippine government has introduced new tax incentives that encourage banks to qualify for universal banking licences. So far only the Philippines National Bank has qualified as a universal bank which needs a minimum capital of 500 million pesos to be able to invest in equities.
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    • 123 9 Reuter THE gold price is likely to fluctuate widely in the next few months as a result of continued political concern, Degussa AG said. Its latest monthly precious metals report said US inflation is still tending upwards and added expectations of higher US prime rates
      Reuter  -  123 words
    • 411 9  -  By LEE YOKE MENG THE Republic of Co6ta Rica yesterday launched its first bond issue in the Asian dollar market, with promises of increasing financial ties in future. The two senior government officials at the signing ceremony yesterday Mr Leonel Baruch and Mr Gerardo
      411 words
    • 412 9 Reuter THE Australian government is considering an overseas borrowing on the Tokyo capital market, treasurer John Howard said. He said preliminary discussions have been held in Tokyo on a possible public bond issue following a review of borrowing requirements for 1980-81. Tokyo market arrangements mean
      Reuter  -  412 words
    • 251 9 Reuter JAPANESE monetary officials described as unconfirmed a press report that the Common Market has submitted a five-point request for the liberalisation of Japanese banking practices covering foreign banks' operations in Japan. The Brussels correspondent of the financial daily Nihon Keizai said the five points include the
      Reuter  -  251 words
  • Page 9 Advertisements
    • 346 9 Businessmen, Are You Getting Your Share of the Billion Oil Industry? The South East Asia OH 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
      346 words

  • 1733 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 COMMERCIAL Aetna (3-288) (1)
    1,733 words
  • 166 10 SINGAPORE I KIT TEIST (MuMm' prices tar Not 11) The Commerce 3.22 3.38 The Saving* Fund 1.99 2.09 S pore Prog Fund 145 152 S'pore Sec Fund 2.09 2.20 S pore Invest Fund 186 1.95 S'pore Equity Fund 1.42 1.49 ASIA UNIT TKU8T (MintMf prices far Nsv M)
    166 words
  • 2717 10 1980 High Lo w Company Last Sale or Gr's Div Gr's Net Div Y'ld P/E C*vr Vol Day COOO) High Low SECTION ONE INDUSTRIAL ft COMMERCIAL 372 276 149 170 402 84 352 745 408 805 245 220 116 138 270 60 275 246 187 285 Acma
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  • 2127 10 i 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 AMD (O.9SS) (2) 0 96 Bala (3.908) Bea (0.808 0.825)
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  • 70 10 CONSOLIDATED Plait* tteas Bhd: AGM to be held at The Regent of Kuala Lumpur Hotel, Jalan Imbi, Kuala Lumpur on Nov 11. TRACTORS (M) Bhd: AGM to be held at Studio 3, 5th Floor, Kuala Lumpur Hilton, Jalan Sultan Ismail, Kuala Lumpur at 12 noon on Nov 11.
    70 words
  • 728 10 1 ERRATIC trading domlnati ed the Slagapore stack exchange yesterday raising share prices ta floetaate sigaifleaatiy. Investors appeared somewhat uncertain and preflttaklng was evident la several counters. The morning's opening was talriy steady bat sellers aaaa emerged aad prices subsequently eased. Although reesvery attempts were
    728 words
  • 623 10 SHARE prices fluctuated in rather erratic trading to close mixed at the Kuala Lumpur stock market yesterday. Sentiment was uncertain as buyers and sellers took turns in dominating the market. Prices swung from one end to another settling slightly above their day's lowest levels. Plantation stocks,
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  • COMPANY NEWS
    • 1249 11 PERLIS Plantations, the diversified group which embarked on an active trail of acquisitions recently, is gearing for a major thrust into property and housing development. In a sense, this move is not unexpected, since Perlis, whose fortunes have been built mainly on sugar growing
      1,249 words
    • 198 11 NEWMAN Industries, a UKquoted company which recently came under the control of Cycle and Carriage, said its pre-tax earnings for the six months to June 30 fell to £293,000 from £2.3 million. The lower earnings were achieved on slightly higher sales of £40.4 million (£34.82 million
      198 words
    • 210 11 HORNSWOOD, a member of the Carrian group, has agreed to buy 23.8 million shares in Chiap Luen Enterprises at HKJ6 per share, the Hongkong Stock Exchange announced yesterday. Hornswood, however, has no intention of extending a general offer to purchase the remaining shares in Chiap Luen. Trading
      210 words
    • 476 11 SEALION Hotels, owner of the 824-room Hyatt Regency Hotel, has forecast pre-tax profits of $9 million for the financial year ending Dec 31, 1980. To meet this ambitious target, Hyatt would have to do exceptionally well for the second half in order to bring in
      476 words
    • 612 11 Market Talk... A STRAITS Trading's shares should be included in any investor's portfolio as it is a sound company with capable management, says Kim Eng Securities. Although the shares appear fully valued on earnings at current levels, it has "considerable investments, tremendous resources and enormous hidden assets." In
      612 words
  • Page 11 Advertisements
    • 73 11 NOTICES 1 POSITION WANTED Expatriate Chemical Engineer age 40 with extensive work experience in USA and Sooth East Asia, in consultancy, process design, project formulation and project management in oil-refining, petrochemical, chemical, man-made fibre and vegetable oil industries, seeks change at Manager/Director/Advisor level to a progressive engineering consultancy, contracting, project
      73 words
    • 131 11 Wve soared to dizzy heights Circulation has doubled in three years: an amazing record! Since Business Times was first published in October 1976, it has meant business: providing businessmen in Singapore with a reliable daily source of essential news. Now, circulation has doubled to over 10,000 copies daily, with an
      131 words

  • 662 12 A BILL has been introduced in Parliament which will ensure that property developers will no longer be able to sell a commercial property without fulfilling certain obligations towards the purchaser. The Sale of Commercial Properties (Amendment) Bill was read in Parliament for the first time on
    662 words
  • 76 12 Reuter THE microchip revolution will probably mean unemployment rates of well over 9 per cent for Western Europe by 1990, the International Labour Organisation said yesterday. The United Nations agency said in a study of the impact of micro-elec-tronics that national economies were losing much of
    Reuter  -  76 words
  • 278 12 UPI THE UNITED States prime rate increases plus rumours of a discount rate increase drove the US dollar sharply higher against the yen and continental currencies in Tokyo yesterday. One dealer said, "It's an interest war (between the US and Western countries)," predicting that
    UPI  -  278 words
  • 136 12 Prime Minister Lee Kuan Yew will leave today for a two-week visit to the Peoples' Republic of China where he will have talks with Chinese Premier Zhao Ziyang and other leaders. Mr Lee will be accompanied by the Second Deputy Prime Minister Mr S. Rajaratnam, Minister
    136 words
  • 852 12 LONDON, Fri. Gold mining shares extended opening losses in active trading and moved sharply lower, dealers said. Randfontein, Amgold, Vaal Reefs, West Dries and Western Holdings lost as much as USSIO. Lesser-priced issues shed up to 350 cents. Leading industrials remained on the opening lower levels with ICL,
    852 words
  • 366 12 MUSIC piracy is not an isolated problem for it adversely affects Singapore's push towards high technology development. This point was made yesterday by Mr John Forrest, a member of the Singapore Phonogram Association (SPA). Mr Forrest is also managing director of EMI Singapore. He
    366 words
  • 432 12 NYT PRESIDENT-elect Ronald Reagan said on Thursday that future negotiations with the Soviet Union on arms control and other issues should be linked to Soviet "policies of aggression" around the world. In his first press conference since winning Tuesday's elections, Mr Reagan suggested two areas
    NYT  -  432 words
  • 402 12 UPI CHINA has bluntly warned Mr Ronald Reagan publicly that if he carries out a campaign promise to restore "official" links with Taiwan, it will spell disaster for Sino-American relations. Privately the Chinese are more hopeful that Mr Reagan will conveniently "forget" his pledge
    UPI  -  402 words
  • Page 12 Advertisements
    • 292 12 Australia Erupting Again With New Areas of Discovery Fever on the Horizon Speculators who remember Australia's POSEIDON phenomenon of 1969 a straight-line climb from 40 cents a share to $300.00 have been getting ready for a cyclical replay at a time when natural-resources demand has never been more urgent. Since
      292 words
    • 343 12 How much do you see when you look at this etching Think about it for a moment, then read the paragraph below, adapted from THE WORLD OK REMBRANDT. */ijL J& i, I-" 1 The Time Life Library Of Art Each book measures 9 x 12 inches (23 x 31 cm).
      343 words
  • Page 12 Miscellaneous
    • 69 12 Outlook for Singapore from 6 a.m. to 1 p.m. today: Thundery showers in the early morning and mainly fair by late morning. Report for 24 hours prior to 7.3t p.m. on November 7 at the airport. Maximum temperature 31.5 Associated humidity 68 Minimum temperature 22.3 Associated humidity 93 Hours of
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  • LEISURE TIMES
    • 192 13  -  PETER WONG THE Shyne Twins should call themselves the Shyne Disco Twins. It was not that their whole performance was devoted to only disco numbers. They started off with cabaret entertainment which, unfortunately, didn't make an impression on the audience. They didn't appear to enjoy such performances; one
      192 words
    • 686 13  -  By PATRICIA GOH I WONDER if British Rail is feeling a little sorry that they only charged us S2BO (£56) for 15 days unlimited travel on the railways. We must have done at least over 20 trips using this wonderful little pass and when
      686 words
    • Article, Illustration
      529 13  -  The tropical paradise of Bali, with its exciting beaches and exotic bungalows, attracts more than 500,000 tourists in a year. How has tourism affected Bali? What are the tourists' impressions? What do the natives themselves have to say. ISABELLE RECKEWEG talks to various people to find out. ISABELLE
      529 words
    • 101 13 HAVE year pick Chablls Blaac, the Hearty Bargaady •r the Reae. Chahlls Blaac If a mediam MM, delicate, semi-dry white wtae far light aad delicate dishes, while the Hearty Bargaady, a lall bodied rich red wtae, Is mellaw aad sweet. Aad, finally the crisp, light semi-sweet Rose ■ever tails
      101 words
    • 458 13 The Economist BRITAIN used to export plays and actors to America. Now the London theatre is importing American marketing techniques to sell itself. These include subscriptions for repertory seasons, mail ordering shots, group sales schemes and, from starting this month, a booth in
      The Economist  -  458 words
    • 1319 14 What is Nissan's, or for matter any Japanese car maker's, secret? The following article examines the competitive edge Nissan, Japan's second largest car manufacturer, has over its rivals whether they are local, Europeans or Americans. MOTORING with Tlermes THE JAPANESE industrial machine has been a bewildering and
      1,319 words
    • 289 14 TODAY GOLF: Seatosa. Play will resume from the 18th tee at 1.90pm for the championship title in the F A N Handicap League between the last two pairs from Warren and Jurong's 'D' division (the competition was abandoned last week because of failing light). The players are
      289 words
    • 82 14 QUiratKD WmMm SlagaP« '"fHw CM (tamped Its ■puhiHj la Ike ynrtor amtkaa toa i »n>m<lU— wkea Mi to** gaM a kattrtck at Ike OCL mefettag «Nntlk etak alw «m the Mki eveat I* Ike Oral tin* to tkls tkreeycariUtvcaL Hpinni fcy Overseas Caakkm LM mmt irgiahi i by
      82 words
    • 646 14  -  By NG LOKE KOON ONCE upon a time, there was a tranquil, almost idyllic Greek village nestled on an island amidst the transparent blue Mediterranean Sea and basking in the gloriously brilliant sun. But time seems to pass it by. The villagers are poor they
      646 words
    • 140 14 THE LAUNCHING of a much-valued perfume is not an ordinary affair. As a result it must be done in style. And Lancome is certainly dressing up its launching of a new scent, Magie Noire, with much paraphernalia. Some M outfits (in silk of course),
      140 words
    • 814 14  -  By CHARMAINE CHAN IF CHARLIE Ball had his way he'd be competing with the 'big boys in the tricks events that's his goal for the 4th and last series of the 1980 7-UP Water Ski Championships scheduled for Dec 20 and 21. Not
      814 words
    • 519 14 2 THE executive jogger} PEEBLE IN THE LAST seven years I have run two marathons and several shorter races. I have jogged through choking exhaust fumes, torrential downpours and intense heat. I have been attacked by unfriendly dogs, chased by a herd of stampeding cows, stung
      PEEBLE  -  519 words
  • Page 13 Advertisements
    • 118 13 BUSINESS TIMES GIVES YOU THE EDGE HERMES visited Japan's second largest car manufacturer last month. Here is his Datsun story. The 1980 7-UP Water Ski competitions CHARMAINE CHAN tells you all. Your weekend sports diary THE EXECUTIVE jogger time waits for no one. So choose the right time not forgetting
      118 words
    • 82 13 [BUSINESS TIMESI When we say business we mean just that "YES, I'll love to have this balloon." "Take it, it's yours!" Do you know that every Sunday is Children's Day at McDonald's Robina House fun and games and countless balloons await each and every child. And while the kiddies are
      82 words
  • Page 13 Miscellaneous
    • 372 13 WHAT WHERE RECITALS THE Music for Everyone series presents a clarinet recital by Murray Khourl with Cheung Man Chit at the piano. On Monday at Bpm at the Singapore Conference Hall. THE Singapore Symphony Orchestra Celebrity Concert on Friday and Saturday with Soloist Dana Vered. At the Victoria Concert Hall
      372 words