The Business Times, 10 January 1981

Total Pages: 14
1 14 The Business Times
  • 11 1 BUSINESS TIMES M.C.(P) No. 107/1/81 SATURDAY, JANUARY 11, 1181 60 CENTS
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  • BRIEFLY...
    • 58 1 Reuter NEW DELHI, Fri, India and France today signed a technical cooperation agreement to set up India's largest integrated aluminium complex in the state of Orissa. Aluminium Pechiney of France will provide technical knowhow and engineering consultancy for the US$l.55 billion project. About 70 per cent of the
      Reuter  -  58 words
    • 83 1 Reuter BRUSSELS, Fri. Inflation in the European Common Market rose to around 14 per cent in 1980, two points higher than the 12 per cent rate forecast last October, the EEC Statistics Office said today. In 1979, the EEC countries had a combined inflation rate of 8.6
      Reuter  -  83 words
    • 55 1 Reuter LONDON, Fri. Irish guerillas today claimed responsibility for a bomb explosion at an air force centre in London last night. They also took responsibility for other recent explosions in London and for shots fired last month at a senior British official working at the European Common
      Reuter  -  55 words
    • 67 1 Reuter BEIJING, Fri. The French oil company Total and China Petroleum have started drilling an oil exploration well off the South China coast into what the New China News Sgency today described as a promising geological structure. The agency said the drilling started yesterday in the northeast part
      Reuter  -  67 words
    • 65 1 AP ALGIERS, Fri. An American hostage negotiation team headed by Warren Christopher today again met Algerian officials and worked to draft explanations that will convince Iran that President Carter cannot release billions in Iranian assets blocked by court action. "I think some sections of the message were
      AP  -  65 words
    • 64 1 BAGHDAD, Frf. Iraq has reported the biggest battle of the three-month-old war Persian Gulf war raging along three key fronts with Iraqi troops fighting a major counter-offensive by Iranian forces. The Iraqi High Command said yesterday fierce clashes involving armour and infantry with air support continued into the
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    • 86 1 AP JOHANNESBURG, Fri. The white-minority government of South Africa published today draft legislation that would allow all hotels, bars and restaurants if they wished to open their premises to all races without applying for special permission. The proposed amendment to the Liquor Act of 1977 was published in
      AP  -  86 words
  • 138 1 Rises Indices Metro Hide* Spore Land 780 125 8S0 35 Jan 8 Jan 9 Aabuudor 378 34 B.T. Indicator: *****.*****53.93 Tong Meng Sal Properties PMC 151 1500 1100 31 30 30 Industrials: Finance: 682.46 1313.71 688.71 1312.63 Perils Plast 720 30 Hotels: 782.22 785.63 Bolton 295 28
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  • Article, Illustration
    146 1 Rises Indices M Textile 392 42 Jan 8 Jan 9 *****.63 *****.26 Magnum Per lis Pit 1770 750 40 35 B.T. Index: S Lumber 610 30 Industrials: 848.54 851.74 Malakoff 525 29 Finance 1283.90 1291.30 Bolton 318 25 Hotels: 409.51 409.71 M Credit 342 24 Properties: 748.09 755.53
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  • 631 1  -  EXPATRIATES INCLUDED By LILLIAN CHEW A NATIONWIDE survey involving all graduates working in Singapore will be carried out by the Government from January 16. The Government has commissioned this survey "to formulate plans for the manpower, social and economic needs for the *****." It will
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  • 263 1 KUWAIT has told customers it is raising oil prices by US$4 to $35.50 a barrel, the maximum increase allowed under a new Opec pricing formula, Western oil company sources said in London. Oil sources in the Persian Gulf said that Qatar, another Persian Gulf producer, was
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  • 501 1  -  By WONG AI KWEI HOUSTON-BASED Baker Marine Corporation (BMC) has big plans for its newlyestablished Singapore subsidiary, Baker Marine Private Ltd (BMPL). Besides the recently-se-cured contract with Beijing to make $14 million worth of BMC-designed twin-pin-ion elevating jacks and cranes for China's Dalian yard,
    501 words
  • 278 1 A LEADING Japanese computer maker, NEC Computers, will set up a technical support centre in Singapore at the end of the month to strengthen its back-up services for its regional customers. The centre will be housed in the World Trade Centre and will
    278 words
  • 258 1 SHAKE prices eliwi the week at Its highest level yesterday after aa aneectala first-half aaaslea. Deflated by mwi af a lft-prfa* Is the Dew Imb«, hat hsaatod hy a 18 I paiat rise la the Bug Seag, the leeal market drifted aacertalaly fer
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  • 468 1  -  By HSUNG BEE HWA THE ASEAN Committee on Industry, Minerals and Energy (Coime) will discuss a new set of guidelines on Asean joint-ven-ture projects when it meets in Kuala Lumpur next week. The guidelines were endorsed by the Asean Chambers of Commerce and
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  • Page 1 Advertisements
    • 4 1 ,,e,,^ ,e WHO MATTER
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    • 18 1 11' Kl r W f— 3 FfrV*''* 'iM* p*i> i'ii.l»iw| Lrutt' i trdrt 1 ■i' "i.'l 'i SEE
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    • 65 1 ~((.>-=<<$'_`+===\>`,,:&?>}~\`\ LEISURE TIMES MRSUHSHI M| Mi ttet wife MIXED rmHkm to UOB grwip Orytor S tr—rfer eia—r US evreat iwiut nrpla* ex- GROWTH mt CMC expected to peetoi to rto S «tow dewa U AUSTRALIA'S etenemle lit- BUMIPUTRA itmalt hail iMk hrtekt to receive Mslk 12 to UOB grs«p CROSSWORD
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    • 2 1 Leader...page C
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    • 236 1 Companies Activities. Key Personnel. Agencies The Straits Times DIRECTORY Of Singapore (Buku Merah) I] Aseans most immediate external threat is now Vietnam Ike Vietnamese invasion of Kampuchea early last year, following the tall of Saigon m 1975. has raised Asean concern about Vietnamese ambitions m the region This worry was
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  • TRADE AND INDUSTRY
    • 543 2  -  By RICHARD SEAH A LEADING Japanese chain manufacturer has invested more than $7 million to manufacture high grade chains in Singapore. Showa Chain (S), a joint venture between Showa Chain Manufacturing of Japan and a locally-based Japanese company, will be Singapore's first manufacturer of high grade
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    • Article, Illustration
      398 2 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Beauty Blue (1300 tide after Soon Churn Subject Free Board) 19 Builder (after Builder II) 22 Equator (after Hwapyung Bee) 23 Golden Sea 07 (Tanker) (1200 after Joo Hong Subject Gas Free P/O) 13/14 King Luck (after East Rainbow) 45 Logistic Ace
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    • 161 2 CATERPILLAR Far East will be displaying its logging equipment at Wood '81 to be held next week. Caterpillar will highlight a D6D special skidding arrangement tracktype tractor, a 528 skidder, a 90OC log loader, a 3412 TA packaged generator set, a D 399 generator set and a 3306T
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    • 239 2 THE Science and Technology Park now being developed will have research and development facilities for fields as varied as engineering, computer science, medicine and food. The January issue of Science and Technology Quarterly discloses that the research and development facilities will include: wafer diffusion and
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    • 323 2 MORE traditional Chinese trading companies are gradually seeing the advantage of diversifying their businesses. Kwang Yeow Heng, a family import and export company in Singapore for nearly 15 years, has recently gone into manufacturing and warehousing. The company, set up by three brothers, Ngan Tang Joo,
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    • 350 2 MORE than half of the visitors to Machine Asia/ Metal Asia 80 exhibition last month were trade visitors who were either buying equipment or making enquiries. This was revealed by a visitor survey conducted by Survey Research Services during the five-day exhibition. The survey also revealed that
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    • 362 2 A GROUP of timber equipment manufacturers from the United States will be in Singapore for a five-day visit from Monday in conjunction with the Wood 81 Exhibition at the World Trade Centre. Several of the manufacturers are keen to meet prospective agents and distributors,
      362 words
    • 190 2 MANUFACTURERS in Singapore will have an opportunity to keep in touch with developments in packaging and to learn how to use packaging to their advantage. The Packaging Council of the Singapore Manufacturers' Association will be organising a seminar, Packaging for Export in the 1980s, on Jan 30
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    • 75 2 NORDIC Bank Singapore branch has promoted Edmund Tai Kwok Wah as manager (treasury and foreign exchange). Mr Tai, aged 31, joined the foreign exchange department of the branch in May 1975, and was promoted assistant manager in April, 1979. Mr. Mtefcael Lim Thlam Gui has been appointed
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    • 303 2 SEMINARS AND COURSES Jan 10: Modern Secretary's Workshop, Waterloo Centre, Personnel Organization Development Jan 10,17,24: The Secretary in Management Today, SIM Conference Room (3rd floor, Thong Teck Building), Singapore Institute of Management Jan 12-13: Systematic Staff Selection, SIM Conference Room (3rd floor, Thong Teck Building), Singapore Institute of
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  • Page 2 Advertisements

  • REGIONAL
    • 246 3 AP CHAIRMAN Hua Guofeng of China is very likely to be named a vice-chairman after he is forced to resign the top job at the next central committee meeting of the Chinese Communist Party. Diplomatic sources in Beijing said general-secre-tary Hu Yaobang, currently the chairman in
      AP  -  246 words
    • 146 3 Reuter A spokesman for the Indonesian Chamber of Commerce said yesterday the government should persuade Japanese businessmen, who set up joint ventures in Indonesia, to do so with indigenous rather than non-indigenous Indonesians, meaning the Chinese. Speaking to reporters on the eve of Japanese
      Reuter  -  146 words
    • 135 3 AFP FOREIGN Minister Carlos Romulo of the Philippines said yesterday Japan needs to extend financial assistance to Asean to ensure its own national security. In a talk with newsmen following his two-hour meeting with his Japanese counterpart, Masayoshi I to, Mr Romulo said there is a symbiotic relationship
      AFP  -  135 words
    • 513 3 AP DESPITE an official trade ban, Taiwanese exports to China are booming through Hongkong's back door. In the first 10 months of 1980, re-exports of Taiwanese goods to China through Hongkong jumped more than 1,200 per cent compared with the same period in 1979. The
      AP  -  513 words
    • 388 3 AFP TWO major mineral exploration projects will be carried out in Sarawak in the next five years, Malaysian Deputy Primary Industry Minister Bujan Ulis said. The first project, to be carried out by the Geological Survey of Malaysia, Sarawak, is the evaluation
      AFP  -  388 words
    • 285 3 Reuter AUSTRALIA'S arbitration commission yesterday awarded the country's six million wage and salary earners a 3.7 per cent rise but its decision was immediately attacked by workers, employers and the government. The commission meets every six months to make pay awards aimed
      Reuter  -  285 words
    • 564 3 Agencies MITSUBISHI Motors has apparently deckled to end its ten-year affiliation with Chrysler of the US, pulling out another underpinning of the American car maker's shaky financial foundation, industry sources said yesterday. In the latest development, Japanese news reports said Chrysler has rejected US$lOO
      Agencies  -  564 words
    • THE REGION IN BRIEF
      • 395 3 Agencies THE US Export-Import Bank announced yesterday that it will finance US goods and services for Phase II of the $2 billion Korean telecommunications network expansion programme. The bank said the project is vital in helping South Korea meet the accelerating demand for telephone service. Western Electric of
        Agencies  -  395 words
    • 122 3 AFP SOUTH Korea's long and short-term foreign debts stood at U5526.5 billion at the end of last year. During last year alone, Seoul paid back a total of $3 billion (including interest), and this year's repayment is expected to be over $3.5 billion. On the other
      AFP  -  122 words
  • Page 3 Advertisements
    • 124 3 THOSE WHO KNOW DRIVE x K fl /H 91 t. 0 9i n )A9l 1 A new dimension to prestige motoring... affordable luxury. Superbly appointed, magnificently finished, a prized possession amongst fine cars. A I msw •-'.I m' •r 7 a < n v Jgfl W 404 ASIA MOTORS we
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  • RAW MATERIALS
    • 440 4 RUBBER prices in the period Dec 18 to Jan 8 continued to decline to 277 cents a kilo for current One RSS, the lowest since last May, before making a sharp recovery of eight cents. Overall, trading was very thin and dominated by the
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    • 146 4 SOYBEAN futures in Chicago on Thursday ended near the bottom of a 13 cent range, down 13V4 to seven cents a bushel in revived trade. Slack pending export business, general lack of buying interest, the firmer US dollar and concern over the possibility of a strike in Poland over
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    • 223 4 THE market closed firmer with February One RSS buyers quoted at 293.50 cents a kilo, up 5.50 cents from Thursday's close. The morning market gained five cents on higher overnight London advices, sellers reserve, covering interest and trade and speculative buying. Prices rose half a cent in thin afternoon
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    • 299 4 RAS prices In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 291.00 292.00N Int. 1 R.S.S. February 233.00 293.50 Int. 1 R.S.S March 236.50 398.00 Int. 2 R.S.S. 2T6.00 277.00N UK/Coot 275.00 2W.00N Int. 3 R.S.S. 273.00 274.00N UK/Coot 272.00 273.00N Int.
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    • 103 4 NOON SSI 11 and SMR prim ym Mrdajr ■AS Fabntrr iCirml Mtk) March (Forward Mtk) SSR20 SSR50 MKliB (1-lon pallet) (1-ton pattM) Mynrs 280 SO 348.S0 ■uora 282. SON 248.S0N MJtrt m 262 50 24&SO Mrs 264 .SON 280 SON SMRCV SMRL SMR 6 SMRGP SMR 10
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    • 80 4 THE STRAITS til priee In Peaug yesterday fell 24 ceato to RQILS4 a Idle tort «u still within the laternnttonal Tla Agreement's middle range ef $91.11 to $SLW, dealers said. The tall was malaly attrlbated to toereased turnover and cen tinned weakness sf storting against the Malaysian dellar.
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    • 35 4 Rubber: Jan 9 Singapore: February: 293.50 cents (up 5.60 cents) Malaysia: February: 311.00 cents (up 5.25 cents) Tin: Ms 3 2.54 per kilo (down 24 cents) Official offering: 213.5 tonnes (up 57.5 tonnes)
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    • 111 4 WHEAT futures in Chicago on Thursday closed at or near day's lows, down 7Vt to 12 Vi cents a bushel in mostly local trade. The market was on the defensive from the start in reaction to additional contract cancellations by fWn» and slack pending export business. Floor talk of
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    • 174 4 CHINEBB PrHiee Exchange, angapave, etataf fried per IN kg yesterday. Cinaat ail: Bulk fob $129.00 teller*, old drum (In second hand drum) fob $139.00 sellers, new drum fob $145.00 sellers. Capra: Mixed (loaae) $79.00 buyers. Fsppsr: Muntok white pepper (ob Asta NLW $432.50 sellers, Sarawak white pepper faq
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    • 193 4 YARN and cotton prices were quoted as follows in Hongkong yesterday: (In HK dollars, spot ex-go-down) Gotten yarn: China Blue Phoenix 20s unq; 32s 2,685, 40s 2,920 (per bale of 400 lbs). Pteeo gseds: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 331 4 SNGAPOBE: Yesterday's closing prices in SI per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.15, 100 per cent second class 0.96, 100 per cent third class 0.95, 25 per cent new crop no stock, B-10 per cent 0.82. THAI BROKEN: A-super 0.77, Special 0.75.
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    • 872 4 COFFEE: Robusta futures yesterday ended an extremely quiet morning session £1 lower to £4 higher in a volume of only 124 lots. Dealers said the market opened slightly lower in line with New York overnight and fluctuated narrowly in the absence of fresh news. Arabica futures opened US$2
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    • 123 4 THE Kuala Lumpur market held steady despite its weak underlying sentiment and quiet trading, dealers said. The Indian purchase of refined bleached deodorised palm olein at around US$577 a tonne failed to boost conditions. In January, the central region was traded at Ms9oO a tonne and in March,
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  • ASIAN STOCKS
    • 484 4 TOKYO SHARE prices rose sharply yesterday in active trading, with the market average closing up 25.99 at a new record high of 7,248.13 (or the third consecutive day, dealers said. Trading volume was a heavy 550 million shares as foreign investors and corporate investors
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    • 397 4 THE market opened lower, but firm on the tail of Thursday night s drop In the Dow Jones. Early buyers were soon swept away under a wave of selling. Buyers stepped in at lower levels and trading was mixed during the mid-morning Buyers gained the upper hand towards 11am
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    • 299 4 PRICES yesterday fell back to pre-new year levels following further selling is resource shares, dealers said. The oil sector saw some oI the market's steepest falls and leading producer, BHP, dropped to Asl€.lo to help depress the Australian all ordinaries index 6.3 points to 712.1 for a two-day loss
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    • 252 4 STOCK prices yesterday closed slightly lower in slow trading, dealers said. First Trust, Siam Credit and Mah Boonkrong Drying and Silo fell one baht each to 57 JO, 81 JO and 179, while Jalaprathan Cement and Rama Tower closed unchanged at 111 and 82.50 baht respectively. JAN 09 Bahts
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    • 154 4 TRADING yesterday was mixed as commercial-mdus-trial and oils remained firm, while mining eased and turnover rose to 3.5 million from 2.5 million pesos, dealers said. Basic Petroleum, Oriental B, Phil Overseas and PLOT closed strong, while the lone loser was Marsteel. The rest were un traded and unchanged issues.
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    • 50 4 FINANCIAL TIMES INDUSTRIALS Thursday 458.3 Wednesday 480J2 Week Ago closed DOW JONES AVERAGE INDUSTRIALS Thursday 988.10 Wednesday 980-86 Week Ago closed HJLHANG SENG fridfiy 1806.63 Thursday 1570.04 Week Ago 1584.86 AUSTRALIAN INDUSTRIALS Friday 888J Thursday 870.2 Week Ago 881.1 ALL ORDINARIE8 rrtday 711.1 nHnkv TIM Week Ago TIE*
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  • Page 4 Advertisements
    • 231 4 AN INVALUABLE GUIDE to the banking, finance and insurance community V.5U.:v -r% W S .;-v »< V 1 1 1. i' j i>> V•; > r" ~'Jjfrw > -J *>/ A t WJcl -t'f.' v-v V'' s 1 v. V*- >.;."•> i sb;«jaB s 5 lx"j x& m :<nj A
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  • OVERSEAS
    • 507 5 NYT ABOUT 26 Soviet army divisions, well over a quarter of a million men, are marking time in East Germany, Czechoslovakia and the Soviet Union, along the Polish border. Analysts interpret this mobilisation as Moscow's warning to the Poles that any perceptible weakening of
      NYT  -  507 words
    • WORLD IN BRIEF
      • 317 5 Agencies THE confidence of business executives in the US economy rose sharply in the fourth quarter of 1980, according to a survey by the Conference Board. The board's index rose 14 points to 63, the highest level since second quarter 1977 and 34 points above the record low
        Agencies  -  317 words
    • 779 5 ARRIVALS Service Local Operator Number Time From PAA PA006 0030 JEK/SPO/HKG MAS MH601 0630 KUL CAL CI331 0700 TPE FT FT71 0710 JFKORD/KUL SLA SQ101 0815 KUL MAS MH605 0630 KUL MAS MH621 0635 PEN MAS MH671 0930 KUL SIA SQ2U 1000 HLP CAL CI814 1000 HLP
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    • 156 5 Reuter. ISRAEL'S coalition government was headed for almost certain dissolution yesterday after two senior ministers threatened to resign over their opposing views on the granting large wage increases to schoolteachers. Finance Minister Yigael Hurvitz has called for a freeze on teachers' pay while Education Minister Zevulun
      Reuter.  -  156 words
    • 482 5 AP THE United States's current account the broadest measure of economic transactions abroad should register about a US$lO billion surplus this year, a high-ranking treasury official predicted. That would about double last year's expected surplus, said Assistant Treasury Secretary C. Fred Bergsten. The current
      AP  -  482 words
    • 183 5 Reuter STANDARD Oil of California plans a worldwide capital and exploration spending of US$4.2 billion this year. This is 20 per cent more from last year. The company said it plans to invest $2.9 billion in the US, up 30 per cent from 1960.
      Reuter  -  183 words
    • 352 5 AP A SPECIALIST on strategic trade between the US and the Soviet Union has urged the incoming Reagan Adminstration to cancel expart licenses granted to two American companies for a gas pipeline from Siberia to West Germany. Mr Miles Costick, president of
      AP  -  352 words
  • Page 5 Advertisements
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  • 384 6 THE GOVERNMENT should be applauded for launching such an ambitious survey to help it draw up a master plan for Singapore in the 80s. However, for the survey to be meaningful, effective and accurate, the Government will have to rely on each and every individual to
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  • 215 6 CORPORATIONS stand out by their superior philosophies. And among companies in Singapore, NEC is certainly one of the few which stand out. Just a year after it started marketing a new range of computers here, the company has decided to set up a technical support centre
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  • 932 6  -  By BARRY MOODY Reuter AUSTRALIA (aces a bright economic outlook in 1961 as its resources development boom takes off, in sharp contrast to most Western countries. Australia stood out as one of the few bright spots in last month's Organisation for Economic Cooperation
    Reuter  -  932 words
  • 102 6  -  Letter to the Editor L.M. WAN MANAGES, PURCHASING FAIRCHELD SINGAPORE Dear Sir Please refer to your article "HK refiner of precious metals sets up office" by Ruth Cheng on Dec 30, 1900, wherein it was stated that we are a client of Zenith Refinery (1977) in Singapore. This
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  • 736 6  -  FORUM, with ROBERT METZ NYT MEXICO is using profits from its government-owned and highly productive oil industry to raise the national standard of living. At the same time, it is trying to create opportunities for foreign investors. Mexico's plan calls for real annual growth of 7Vi
    NYT  -  736 words
  • Page 6 Advertisements
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  • Page 6 Miscellaneous
    • 1165 6 Entertaining documentaries ■ay prwe to be Bare eatertalatog that what SBC to efferlag far "eatertalaIto first, A Skip Ctmtm Stmt, is akaat the e—ftoattfes «f an i era aeeaa traaspartattoa the exacttag —MUM, expert ttmlag, sf wind aad eaireat. It starts at IJS (Chaaael 8) aad to toe riwrt to
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  • 590 7  -  FOX BUTTERFIELD PICTURE this nursery school scene: 10 one-year-olds are squeezed next to one another on a bench, with their backs against a wall. They sit motionless. None cry, push or shove. A woman attendant takes a small windup toy chicken out of a
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  • 977 7  -  More and more women in Japan are becoming alcoholics. The Japanese-speaking Alcoholics Anonymous Organisation estimates that one out of every 10 alcoholics in hospital is a woman. Another survey shows that for every 11 cases, one is a woman. RYUNOSUKE lORI reports. RYUNOSUKE
    Depthnews  -  977 words
  • 1708 7  -  By FOX BUTTERFIELD NYT TWO blocks from the eastern wall of the Forbidden City, the ancient residence of China's emperors, is a plain, modern fivestorey building. Its large plate-glass windows are curtained to shield its interior from passers-by. The only clue to its identity is a small
    NYT  -  1,708 words
  • Page 7 Advertisements
    • 609 7 i Aykfcl la!& <r> Z°M w \X* &SM MACKENZIE Andrea Newman They loved him. They hatad him Jean, hit wife, who felt things were really quite simple she wouldn't share Mackenzie with anyone. Cool, seJty Diana, the blonde model-flirl who imagined that making love would solve everything. Ruth, who could
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 262 8 JAN 08 Frs CORBEILLE Air-Uquide 480 -8.5 B 8 N Grrvau Danone 903 -7. CSF (ThomsonCsf) 375 -10 Cte Francaise ties Petroies ***** -T.1 Compagnle Flnanciere Compagnle Generale 380 -4 Credit Fonder De France 368 -5 Hachette (Librairie) 340 unch Machines Bull 51.80 880 -0.5 Michelin (B) -5 Paribus
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      • 209 8 JAN 0* Dm Aeg-Telefunken TO JO -02 Aluo 16 JO -0.1 AIU Leben tosaoo unch AIU Vers 475.00 2 BASF 124.10 -03 Bay H T Wbank 214.00B Bay Vh«nk 300 00 I Bayer 111.40 -0.2 BW 261 00 BMW 1JU0 Cassella 301 00 .1 Chem Verw 23S.OOB -123 Commerzbank
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      • 89 8 JAN 08 Prs FORWARD MARKET Hfff 280 .5 Arbed 1240 -10 Astur 348 4-2 Rn»«r»n 860 -4 Rru-l^mh 1006 46 Canpac 1134 -8 Cock 156 -4 De Bms 318 -8 1575 Decttotwl BOO 4*10* Gb-Inno-Bm 3015 i« -5 rw M80 -20 Mm 8000 +8 Ryl Dutch 3040 .4 SIdro
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      • 188 8 JAN 06 FU ARN 283.00 -6 Ahold 74.00 -13 Akm 17 90 0.2 AMEV 94.00 -0.7 Am fas 116.00 1.2 Amrobok 57 JO -1.4 Bergoss 18.50 unch Berk 48.50 -18 Bols 57.90 -0.1 Borsumij 208.00 >1 Burhmann 58.50 •f 02 Byenkorf 38.00 -2 C aland 2S20 unch Calve Delft
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      • 182 8 JAN 0* Franc* Aouons Suiim 207 Alusuisse Br 1116 Alusuiue Rrf 446 Brown Bowl Br 1500 Clba Geigy Br. 1000 Clba Oelgy P C 70S C1t» Oetty Rh ifb Credit Suisse Br 2715 Credit Suisse Ret 406 Elektrowatt Br 2000 George Fischer Br 755 Olobus Pr 3S0B -I -4
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      • 104 8 JAN 08 Urr Anlr S 40 01 Aaaoc Gen *****0 1520 Baslogi 805 14 5 Central* •100 rut i|40 |4j Firmder 78 50 0 25 Gen Immob 2430 •10 IFI Pri 3787 -23 Ilalremenu ***** -108 I taiga* 1770 120 llaliider 283 -1 Magnetl M Pf 888 Marelll Ere
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      • 218 8 JAN 08 C AKitlftu 24 unch Alcmn W. 37 A1 go ma Bank Mont Bank Nova Soot la RHI T»l B'.' J??" 1 !•'< BrUi Corp RP (in t m 37'. ♦<, 35'. Bnuran Camp Red Lake I Can Imp Bk i ■ft'. -3', TV. .i, Canpac < IIS
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      • 313 8 JAN OC Rand INDUSTRIALS A Alph. 430 5 Aberrom J35 AE And CI AUIC >70 2100 unch Barlows 1100 -30 Cf Sugar CN A Currte Finance De Beers Ind ZZ 530 23SB W0B 10 unch Edcon 050 Edgars 8700B Eve ready Fed Vol It 500 io Fugit 240 Gardian
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  • Page 8 Advertisements
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    • 126 8 iJ JAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights. Open daily 12 ru>on 3 p.ni. 6 30p m —10 30p ni. For restorations call 7379h77 j i. H 1 (< 111 I l*\ I'l I I'k Kl) 111 >1 I I If H >I*l FISH HEAD CURRY
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    • 95 8 See Page 9 for NYSE prices and Page 4 for Asian stocks The Great Family Do-K-\burself Barbecue. i fy". 1 \U <!£' A Merlin Grill 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
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    • 146 8 Inn Of Happiness ■r <zr< 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. |fl| HUON MTERNATIONAb BMGAPORE Dine in the grand tradition of emperors. V VV
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    • 109 8 1» A v* 1? r Victoria Bar The Coffee-House Relax in an atmosphere of For informal meals and elegant days gone by. light-hearted snacks o Oxley Rise/Penang Road. Singapore 0923 Tel: *****11 (20 lines) Cabie: COCKPIT Telex: R*****6 XT restaurant m m p*S! i;: Charming Garden Special Beef"* Don't miss
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  • BANKING AND FINANCE
    • 426 9 THE US dollar weakened for the greater part of yesterday on news that other US banks have lowered their prime lending rates. This was, however, later discounted by the market and the dollar rallied slightly towards the end. From an opening of 2.0860/70 against the local dollar, the
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    • 50 9 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Jan 12 to 15: Offered: $50,000,000 Applied for: $96,500,000. Allotted: $50,000,000. Accepted bids: $96.29 approximately 44 per cent and higher bids in full. Avenge rate d discount en allotment: 6.825 per cent per annum.
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    • 22 9 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 14.4 per cent.
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    • 173 9 ASIAN RATES ASIAN currency deposit interbank rates as at close on Jan 9: 7 days 20% 20 1 month 21 20% 2 months 19% 19% 3 months 18H ISM 6 months 1? 18'* months 1513/*****1/16 12 months 15% 15% 8w.Fi*. Dm. /1C1XJ1. A_1 v 1 month 3 months 6 months
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    • 45 9 RANGE of prices oflered by discount houses on Jaa 9: Overnight: 7%% Call deports: 6%% to 7%% Clsstaf BejtaC 8*Uiaf 3-month Treasury bills 6% 6% 3-month Bank bills 13% 13% 3 months CD 12% 12% 6 months CD 127/16 125/16 Source: National Discount Co
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    • 39 9 FRANKFURT exchanges opening quotes on Jan 9: US -1.9678/88 (1.9800/10) Stg 4.722/728 (4.706/715) Can —1.6570/89 DFl 91.91/92.03 S Fr 110.53/69 Lit 2.103/08 F FT 43.17/24 N Kr 38.15/21 B Fr (coo) 6.212/19 B Fr (fin) 6.193/203 Yen 0.9730/50
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    • 1324 9 NEW YORK STOCK MARKET THE AFTERSHOCKS of a sell recommendation by Joseph Granville that rattled Wall Street on Wednesday sent stock prices on Thursday sharply lower again but on much lower volume. Analysts said investors continued to take profits in oil, defence and technology stocks which posted strong
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    • 287 9 SINGAPORE gold futures yesterday closed generally higher on some local buying interest influenced by firmer overseas gold markets, dealers said. Trading however was thin with total sales for the day recorded at 87 lots while volume for kerbs was at 133 lots, they said. February closed stronger at U5J506.50/587J0
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    • 39 9 Ttmn Wmi New York 15 JOB 15.40B 15J0S 13.706 Zurich 15 JOB 15 MB 1970S 14.008 Prt 7\in Singapore 15.40B IS .JOB 15.80S 15.70S Owing prk m in US dollars a troy ouao Source: Credit Suisse, S'pore.
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    • 228 9 THE dollar continued to react to changes in Eurodollar rates, opening in quiet trading above Thursday's finish but slightly below New York's close. After opening at 1.9696/ 9705 marks from Thursday's close of 1.9625/36, the dollar rose to 1.9720/30 marks, supported by firmer Eurodollar interest rates. However, they noted
      228 words
    • 171 9 THE dollar for overnight delivery yesterday closed firmer at 202.30 yen, compared with a 202.10 opening. This was up sharply from a 200.40 yen close in Tokyo on Thursday. Trading was active, with volume US$977 million. The dollar steadied between 202.15 and 202.60 in moderate late trading, on limited
      171 words
    • 177 9 THE morning strength of the US dollar in Asia began to wane yesterday with the entry of the Middle East operators as Eurodollar rates began to weaken. In late, moderately-active trading, the US unit was quoted at 1.9697/9702 marks compared with the 1.9727/32 seen earlier in the day, and
      177 words
    • 248 9 THE BANK of Tokyo will be issuing US$75 million of 10year floating rate notes through its wholly-owned subsidiary in Curacao in both the Asian and Eurodollar markets. Issued at par and unconditionally guaranteed by Bank of Tokyo, the notes will be listed on the
      248 words
    • 159 9 Reuter. THE ASEAN Banking Council will hold its ninth meeting in Bangkok next week to finalise proposals to establish an Asean Finance Corporation and the Asean bankers acceptance market. The Thai Bankers Association, which Is organising the meeting, said in Bangkok yesterday that Asean Finance
      Reuter.  -  159 words
    • 578 9  -  By RUTH CHENG OFFICERS of the United Overseas Bank (UOB) group are receiving with mixed feelings the transferability clause in the new collective agreement Just signed between the bank and the Singapore Bank Officers Association (SBOA). The clause provides that staff within the
      578 words
    • 454 9  -  ALVTN TAT TWO LOCAL BANKS are putting more emphasis on the career development of their staff and have plans to upgrade their in-house training facilities. The banks, United Overseas Bank (UOB) and Industrial and Commercial Bank (ICB), are in the process of
      454 words
    • 129 9 PETBONAS, Ike Malaystaa aattoaal oil eempaay, has the talk st Ms savtogs UtaWng Ms 4 Mlllea to taaks within the eaaatry. Revealing this 1b Dewaa Negara «1 Tharaday, Malaysiaa Prime Mlateter Datak Haaaeia On saM the savtags will for devetopmeat parpaaea tkraagh the parehaae of baads aad secartties.
      129 words
    • 210 9 AP THE BANK of China has anounced that it will withdraw surplus currency from circulation and tighten credit controls in an effort to reduce over-issuance of money, rising prices and inflation. The decision was made at a meeting of the major branches of the
      AP  -  210 words
  • Page 9 Advertisements
    • 39 9 JO s c r I sV, Distributed by NEW from HAMLYN PAPERBACKS r r V. vLMim "V T| tit V* :>C rFEDERAL PUBLICATIONS Miiuiiuiranmn• urt* 1 N'.' a Industrial Road. Singapore 1953 A member o* the O- jt •<.- V
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  • 1948 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. SECTION ONE INDUSTRIAL A COMMERCIAL Acma (3.248)
    1,948 words
  • 158 10 MNQATOBK UNIT TBI IT OCJB-MOWT AOl) The Commerce 3 34 3.51 (Miniwr MM Mr aai n a lz) I'mon We Fund 133 LM The Savings Fund S'pore Prof Fund S pore Sec. Fund S'pore Invest Fund S'pore Equity Fund AMA UNIT 1 JESTa*Mai Prof Fund VU1 Security Fund
    158 words
  • 2732 10 Gr*s Gr's Net 1980/1981 Company Last Div Div YTd P/E Vol Dn High Low Sale +or- Cyt COOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 372 245 Acma 320 15.0 23 43 123 300 220 Alcom 300 12.0 23 4.0 17.0 149 116 Allied Choc 135cd 3 4.0N
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  • 2042 10 BID and offer prices officially listed and business in and re- -> ported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots at 1,000 units, unless otherwise specified. raXBISULfI Atemm (2.835) (1) IB (5) 2M AMD (1.14B) (I)
    2,042 words
  • 699 10 THE stock market yesterday Mew M aad mU tlMg wtth Pram a mixed marateg iniii, the market leaded easier at aaaa m It earreeted M nvbNght pirttlia. Bat SMtlmMt picked ip ■trsagty la the tost hear as a spirited rally swept thraagh the market.
    699 words
  • 584 10 A BURST of buying activity towards the noon close galvanised market sentiment and enabled share prices to recover ground on the Kuala Lumpur stock exchange yesterday. The bulls were particularly active among selected lower-line issues which continued to attract keen support to close above their
    584 words

  • COMPANY NEWS
    • 1463 11  - Slowdown in growth expected at C C By CATHERINE ONG CYCLE A Carriage does not expect the exceptionally high growth in the Singapore and Malaysian car markets in 1960 to continue this year. Chairman Chua Boon Peng said in its annual report that although growth will be sustained in Malaysia,
      1,463 words
    • 489 11 Market Talk... BOUSTEAD Holdings' debtfree balance sheet coupled with its ability to generate substantial cash flow will stand the group in good stead. Its healthy financial position should enable it to maintain its high growth rate from its existing operations and any future acquisitions.
      489 words
    • 270 11 A LEADING American insurance broking firm, Frank B Hall Overseas, has accepted an offer from H«ag Leeag Credit to take a stake in the equity of its subsidiary Benar Insurance Brokers. Frank B Hall will acquire 29 per cent of Benar's issued capital which will reduce while Hong
      270 words
    • 459 11 THE sharp increase in fuel prices last year took its toll on most chemical companies which consequently reported slower growth rates or reduced profit. Chemical Company of Malaysia (CCM) was no exception with a 7.1 per cent drop in pre-tax profit for
      459 words
  • Page 11 Advertisements
    • 202 11 a I Ult I f! mi rt; im h II u ii H t$ fe g imun 0 Ej *P -v rr jfcr *ii- itjp?*" v •> > v. w M J -T o A > Ik V Vi nK "4 4* TV r m a r <o f <
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  • 212 12 UPI RUSSIA has launched a submarine twice the size of the largest attack submarine in the US arsenal, it was reported on Thursday night. The Washington Post newspaper, quoting navy officials, said the new Russian submarine, armed with Cruise missiles, will make American aircraft
    UPI  -  212 words
  • 483 12 AFP JAPANESE Prime Minister Zenko Suzuki yesterday pledged in Manila that Japan would do its utmost to bring Vietnam to the conference table and strengthen the Asean economies so that no outside nation can exploit any conflict in the region. Mr Suzuki made
    AFP  -  483 words
  • 207 12 UPI ISRAELI cabinet officials and government aides predicted yesterday that Prime Minister Menachem Begin will resign on Tuesday unless he resolves a teachers' wage dispute that has caused the defection of a key minister and his vital votes in Parliament. An isolated and disappointed Begin
    UPI  -  207 words
  • 152 12 Reuter THE West German economy grew by 1.8 per cent last year compared with 4.5 per cent in 1979, according to provisional official statistics. The Federal Statistics Office said the economy weakened sharply in the second half of last year, with real growth in the
    Reuter  -  152 words
  • 314 12 Reuter INDONESIA will turn out heavy security for Japanese premier Zenko Suzuki's visit today but no trouble or serious demonstrations are anticipated, a Jakarta police spokesman said yesterday. A Japanese embassy spokesman in Jakarta said two Indonesian students were briefly detained by police
    Reuter  -  314 words
  • 837 12 LONDON, Fri. Share prices opened easier in quiet trading with another weak performance on Wall Street and the possibility of industrial action in pursuit of a wage claim by water workers combining to depress sentiment, dealers said. ICI, ICL, GEC and Bat Industries were between a penny and
    837 words
  • 267 12 UPI AMERICAN Presidentelect Reagan will tackle the nation's budgetary problems by making across-the-board cuts in federal spending. Mr Reagan said this on Thursday outside the government residence, Blair House, as he headed for the State Department for his first meeting with his full cabinet.
    UPI  -  267 words
  • 528 12 THE Malaysian government will allocate Msl billion in the Fourth Malaysia Plan (1981-85) to the Bumiputra Economic Foundation (or buying shares, Finance Minister Razaleigh Hamzah said. This is twice the Third Malaysia Plan allocation, he said in a briefing on the government's plan to transfer
    528 words
  • 347 12 TARIFFS, qoutas, protectionism and other national restraints will destroy the global economy and, with it, the chance of a capitalist's victory over communism. This warning was made by Mr S Rajaratnam, Second Deputy Prime Minister (Foreign Affairs), at the 17th Annual Business International
    347 words
  • 137 12 THE Government lost a record |20.6 million of public stores in the financial year 1979/80, 50 times more than the amount lost in the previous financial year. But it can take pride in the fact that every cent it was accounted far. The bulk of the
    137 words
  • Page 12 Advertisements
    • 37 12 USA REAL ESTATE INVESTMENT CONDOMINIUM CONVERSION GROWTH AREAS CALIFORNIA TEXAS ILLINOIS INCOME PRODUCING ATTRACTIVE OPPORTUNITY FOR ASIAN INVESTORS DESIRING DIVERSIFICATION OF ASSETS MINIMUM INVESTMENT U5552,500 -CONTACT SEA-TRACT P.O. BOX 707 SINGAPORE 9119 OR TELEPHONE 293-1578 FOR INTERVIEW
      37 words
    • 77 12 Maodan 0 lessens.. Radio Radio *S®^i?2o lessons wft® 1 ni hao ma? _«mo^ Learnto •f iS 4 l\Aandarin'toy Radio lessons 21*30 lwmmwuwawmw ai Quickly SBC's "Mandarin by Radio" lessons recorded on sound cassette tapes together with companion texts in comprehensive books provide simple lessons for all who wish to learn
      77 words
  • Page 12 Miscellaneous
    • 65 12 Outlook for Singapore from 6 a.m. to 1 p.m. today: Showers in several places in the late morning. Report for 24 boors prior to 7J9 pun. on Juury 9 at the airport Maximum temperature 30.2 Associated humidity 72 Minimum temperature 22.6 Associated humidity 97 Hours of sunshine 3.80 Rainfall in
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  • LEISURE TIMES
    • 184 13  -  LILLIAN CHEW "GETTING married on the Kim Kim River would have been easier," thinks Dick as he and Mary are showered by confetti under an arch of waterskis. Labelled Singapore's most eligible bachelor, Richard Eu Jr's first love used to be waterskiing that was before
      184 words
    • 299 13  -  WEEKEND GOURMET By WONG AI KWEI HERE are a couple of recipes to whet your apetite while you decide whether or not to try Le Crunch for a change. R«»st Duckling with Apple and Cider Vinegar (for 3-4 per—m). Ingredients 1 duckling cut into 4 quarters (salt
      299 words
    • 366 13 LE CRUNCH to la ton II to «all, green, thick sklaaed, Jalcy aad very craaehy. Aad It's aeae other than the (udmi French apple which took Britain by »***** nearly two yean age. Thto Preack geMea deHdeu apple which to geiag down very well with
      366 words
    • 785 13 TW IN THE SPACE of a few seconds three fatter-by-the-minute Peking ducks waddle away from a contraption used to force a carbohydrate-rich grain mixture down their gullets. Thousands of ducks are fed this way every five hours at the Lianhuachi (lotus pond) duck farm on
      TW  -  785 words
    • 898 14  -  THE MALAYSIA CUP 1981 By RONALD KOW ANOTHER Malaysia Cup football season starts for Singapore tonight with the local national soccer team meeting Perils at the National Stadium, (kick-off 7 pm). What is new with the Malaysia Cup this year? Nothing much, really. Except maybe
      898 words
    • 564 14 f THE EXECUTIVE JOGGER {I By PEEBLE WATCH any group of runners before the start of a race and you're bound to see them behaving more like dancers than runners. Like most athletes they are loosening their muscles through a series of exercises. Most often, these exercises involve
      By PEEBLE  -  564 words
    • 365 14 TODAY GOLF: SICC: The qualifiers from the 'C' division for the Chua Cheng Liat Cup competition were selected last week during the monthly medals. The 'D' division monthly strokeplay medal will be held with the qualifying round for the Chua Cheng Liat Cup this afternoon at the
      365 words
    • 492 14  -  It is not true to assume that nobody wants to benefit from Choo Seng Quee's vast experience and that everything he knows about the game will be buried with him. Perhaps Uncle Choo should get away from it all sit back and relax and write
      492 words
    • 148 14 mm ONCE agaki the fflmpwn Bm Betvhjce will ipentf special services to aai (rem Ike Nattoaal Bteitom tor Ihe MUmh Cap toethall —tehee Mi at the Well»—I ntmmmm tor 1181. Servleee A, B mad C win ru trem Aag Me Kto, Tee Payeh Mi QaeeMtm reepecthrety to
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    • 589 14  -  SINGAPORE GOLF ASSOCIATION PREMIER LEAGUE By CHARMAINE CHAN SENTOSA Golf Club makes its debut in the Singapore Golf Association's Premier League when it meets Jurong at the Jurong course this morning. Sentosa will be joining seven other teams who comprise the Premier League competitors for
      589 words
  • Page 13 Advertisements
    • 118 13 BUSINESS TIMESI When we say business we mean just that THE MATCH it on tonight between Singapore and Perlis. Will the Republic's team get into a flying start tonight? RONALD KOW reports on the Malaysia Cup 1981. "Nobody wants to benefit from my 40 years of soccer experience. Everything I've
      118 words
    • 6 13 BUSINESS TIMES GIVES YOU THE EDGE
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  • Page 13 Miscellaneous
    • 647 13 WHAT WHERE FILM SHOWS THE LATE John Wayne will entertain at the Hilton Movie House tomorrow. Together with AnnMargaret and Rod Taylor, he will take the leading role in Tlie Train Robbers. Show time is at 8.15pm. There will be a first drink charge of $8.50 plus tax for non-diners.
      647 words