The Business Times, 13 February 1982

Total Pages: 14
1 14 The Business Times
  • 11 1 BUSINESS TIMES M.C.(P) No. 93/1/82 SATURDAY, FEBRUARY IS, 1182 60 CENTS
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  • 304 1 A COMMITTEE set up by the Asean Chambers of Commerce and Industry will meet in Bangkok on March 3 to work out the details for the establishment of the Asean Trading and Investment Corporation. The recommendations of the committee will be submitted to
    304 words
  • 235 1 Reuter THE Development Bank of the Philippines (DBP) is to resume direct foreign borrowing, wtth a US$3O million floating rate note to be issued on the Singapore and Luxembourg exchanges. Senior officials of the state-owned bank said in Manila yesterday that the float, expected
    Reuter  -  235 words
  • 580 1  -  By FLORENCE CHONG TAN SRI Lim Goh Tong, who operates the Genting Highlands casino development, and his Australian partners have been tipped to win at least one of the two casino licences to be issued by the Queensland state government on Tuesday. Interestingly,
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  • 340 1  -  By ALVIN TAY COMMERCIAL banks are still finding it difficult to attract enough deposits from non-bank customers to match their rising loan portfolio. Total deposits of banks rose by $4 billion to $20 billion last year, according to the latest Monetary Authority of Singapore's
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  • 72 1 DEVELOPMENT Bank of Singapore will cut its prime lending rate by half a percentage point to 9V< per cent from Monday, becoming the third commercial bank to move to the single-digit region. Overseas Union Bank and Chemical Bank are already quoting their best customers 9V« per cent
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  • 263 1 MERCHANT banks here are diversifying increasingly into direct offshore lending to corporate clients. This observation, made by management consultant SGV-Goh Tan in their latest study of financial institutions, seems to indicate an even more competitive time ahead for banks which emphasise the companies loan
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  • BRIEFLY...
    • 80 1 Reuter KUALA LUMPUR, Fri. The Malaysian government is to raise M 51.50 billion with the issue of three tranches of loan stock for the country's development purposes. It will issue at par $200 million of 6.5 per cent three-year stock, $500 million of 8 per cent 15-year
      Reuter  -  80 words
    • 56 1 AFP JOHORE BARU, Fri. Radio and Television Malaysia will cease to carry cigarette advertisements from March 15. Information minister Datuk Mohamed Rahmat said the ban would not, however, affect Rial's revenue. He said the decision was in line with the government's efforts to make the people aware
      AFP  -  56 words
    • 66 1 AFP CANBERRA, Fri. Devaluation rumours have intensified in spite of a two-year low exchange value for the Australian currency. In response to the rumours, movements of capital have been reported in anticipation of a devaluation over the weekend. The rumours surfaced after official statistics were issued during the
      AFP  -  66 words
    • 79 1 Reuter r LONDON, Fri. Retail prices in Britain were 12 per cent higher in January compared with a year ago, the same as in the previous two months. The employment department said the retail price index last month, base January 1974, rose 0.6 per cent to 310.6
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    • 61 1 AFP BEIJING, Fri. For the first time in many years, China posted a surplus in its trade with Japan, its top trading partner. Statistics recently provided here by the Sino-Japanese Economic and Trade Association indicated that bilateral trade had reached US$lO,390' million $5,300 million in Chinese exports
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    • 58 1 Reuter TOKYO, Fri. Japan will complain about Austrian restrictions on imports of Japanese video tape recorders to the General Agreement on Tariffs and Trade. Government officials said Austria imposed the restrictions from Feb 14, 1981 allowing only 8,500 sets to be imported a year and intends to continue
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    • 34 1 BONN, Fri. The West German government confirmed that a Nato summit meeting to be attended by US President Reagan, originally scheduled to be held in Brussels, will convene here on June 10.
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    • 46 1 TOKYO, Fn. Japan must step up economic aid to developing countries to help them establish stable self-supporting economies. An annual White Paper on economic cooperation released by the International Trade and Industry Ministry said economic development of developing nations is particularly important for Japan.
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  • 224 1 THE Devetopmeat Buk ef Slagapere has restractared Its ergaalssttea to streamUse eperattoas aad to create greater spedallsattoa. The mala activities ef the baak will m« came aader Ave graaps credit •ad lavestmeat baaklag, treasary aad demestlc baaklag, lateraattoaal, data reesartes aad maaagemeat sendees,
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  • 490 1 Reuter ARTHUR Laffer, an economic adviser to US President Reagan, has predicted that the administration will propose linking the value of the dollar to gold or some other commodities by the end of this year. He said a return to the so-called gold
    Reuter  -  490 words
  • Page 1 Advertisements
    • 240 1 :IiIO !vi DlO I'J *V} II i -Times SPP Limited has run into a hitch over its proposed acquisition of a 50 per cent stake in Island Country Club Condominium Pte Ltd Page 12 FOREIGN banks with full licences seem to be making greater headway in Singapore than domestic banks
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    • 105 1 Sweet Swinger" The MacGregor EYE-O-MATIC Classic. A classic wood with the famous shallow Eye-O-Matic face Automatically points out the hitting area to the sweet swinging type of happy players for deadly accuracy! With further assurance of an easy swing from the added loft The famous EyeO-Matic classic. Made from the
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    • 125 1 *s\\\v ss^ ■p) SIVAFORE business FOR PEOPLE WHO MATTER Times PenOOCCHS Pvjt*cavxi A wine (liais worth its weight ingold. The Leasingham Bin 68 Cabernet Shiraz, winner of many awards including the prestigious 1979 Hobart Gold Medal. Bottled in 1977 from a superb blend of Cabernet Sauvignon and Shiraz grapes, this
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  • BANKING AND FINANCE
    • 497 2  -  By LEE YOKE MENG FOREIGN commercial banks with full licences seem to be making greater headway in Singapore than domestic banks. This conclusion is drawn from the rankings compiled by two research companies. Both the Consulton Research and SGV-Goh Tan reports show that the Bank
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    • 89 2 Reuter FU-LOI Gold Dealer, a member of the Chinese Gold and Silver Exchange Society in Hongkong, has been suspended from trading at its own request. Fu-Loi asked for the suspension because of "problems of inner organisation," said the exchange's manager Kenneth Wong. Its request was accepted
      Reuter  -  89 words
    • 380 2 Reuter HONGKONG'S newly defined money supply M 3 total rose 2.8 per cent to HKJ176.82 billion overall in December, while the local currency component M 3 rose 3 per cent to $145.93 billion, compared with rises of 0.8 per cent and 0.4 per cent respectively in
      Reuter  -  380 words
    • 259 2 Reuter THE Philippine government has taken measures to keep foreign debts within statutory, manageable limits because Philippine organisations often find it easier and cheaper to borrow funds from abroad. With domestic interest rates generally higher than those abroad and with funds often easier to
      Reuter  -  259 words
    • 88 2 Reuter THE BILLIONAIRE Hut hitfcwri el Dallas, Ttui, may be lotfroted la rrstraetariag tkc aver I Ssl UlltM laaa agreemeat weared after the MM diver market erMa. It to keUeved that Federal Reaenre Bwri ehalrmaa, Paal Veleker, kai had eeataet wtth the Heats ar
      Reuter  -  88 words
    • 714 2 Reuter BUNDESBANK president Karl Otto Poehl said he is sceptical that US interest rates will fall in view of the high level of defence spending and the tax cuts already adopted, leading to high budget deficits. He added it would help if the US
      Reuter  -  714 words
    • 507 2 Reuter THE Dutch secondary bond market may see rising prices and lower yields in the short to medium term since the market is fundamentally strong. Dealers said the US market remains a major influence, although the domestic Dutch market more and more follows its own direction and
      Reuter  -  507 words
    • 452 2 Reuter FRENCH interest rates tell on Thursday to their lowest levels since last May, reflecting the government's desire for lower loan charges to boost economic recovery. Money dealers regarded the lowering of both of France's key money market rates as
      Reuter  -  452 words
    • 276 2 Reuter THE CONTINUING entry of more banks in the international market is resulting in more competition and less profits for multinational banks. Two prominent bankers, Serge Bellanger of the Credit Industrial Et Commercial of New York and James Miscoll of the Bank of America in
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    • MONEY AND EXCHANGES
      • 459 2 YESTERDAY'S foreign exchange market saw an exciting spurt of activity as the US dollar moved up sharply against most of the other currencies. Against the Singapore dollar, the American currency opened at 5J2.1156/ 6. Movement was upwards all the way, with the doller closing finally at 2.1170/80. Istarbaak
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      • 22 2 THE average rate at which major Singapore baiike are currently prepared to lend to their beat customera is 10.48 per cent
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      • 189 2 ASIAN ASIAN currency deposit Interbank rates as at close on Feb 12: US MUrtSfot) Offer Bid 7 days WH 16 1 month 16* 16* 2 months 16 5/16 16 3/16 3 months 16 7/16 16 5/16 6 months 16 7/16 16 5/16 9 months 16 5/16 16 3/16 12 months
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      • 46 2 RANGE of prices ottered by discount houses oo Feb 12: Overnight: J'» 4 Call deposits n to 3'«** Cbdu Buvibi S*llimf 3-month Treasury bills 2W 2H 3- month Bank bills 3 months CD 6* fi 1 6 months CO 74 7»» Source: National Discount Co
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      • 212 2 SINGAPORE gold futures yesterday closed generally easier in light trading, with its initial loss reflecting the metal's weakness in New York overnight, dealers said. Total sales for the day was recorded at 84 lots while kerb volume at 103 lots with activity mainly centred on February, Apri] and June
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      • 34 2 Wad Tm New York 8.C3B 8 45B 8.TQS 8.S2S Zurich 8MB 8.CB 8_7iS 8.52S Singapore 8.63B 8 40B 8.78S 8.S06 Closing prim in US dollar* a troy ounce. Source: Credit Suisse, S'pore.
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      • 144 2 THE dollar for overnight delivery in Tokyo yesterday rose 1.45 yen during the day to close at 237.55 compared with the 236.10 opening, dealers said. This compares with the 235.95/236.10 New York close and 236.10 Tokyo Wednesday finish. The dealers said trading was a moderate $1.28 billion. The Bank
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      • 81 2 THE US dollar in Hongkong yesterday surged against major currencies on nervous buying prom ted by overseas orders from the US. The Hongkong dollar softened to 5.9120/70 to its US counterpart from an early 5.9050/90 and Thursday's 5.8830/70 ending in Hongkong. Banknote rate* yesterday: US 5.17/3.89 UK -10.75/10 J5
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      • 84 2 THE dollar in London yesterday remained firm at a quiet start to trading ahead of the long holiday weekend in New York, dealers said. The dollar continued to make headway on interest rate considerations both for the short and long term, although trading was a shade nervous at the
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      • 51 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Feb 15 to Feb 19 Offered: $160,000,000 Applied for: $325,220,000. Allotted: $160,000,000. Accepted Ma: $99.37 approximately 34 per cent higher bids in full. Average rate af foenut •a alfotaeat: 2.460 per cent per annum.
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  • Page 2 Advertisements
    • 438 2 N«w available an Update t0... The key to under standing ASEAN The ASEAN Report Update Published by The Asian Wall Street Journal The ASEAN Report gave businessmen for the first time a key which opens the door to doing business with the countries within the Association of Southeast Asian Nations
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  • TRADE AND INDUSTRY
    • 197 3 AN International food conference will be jointly held for the first time in Singapore by the Australian Institute of Food Science and Technology, the Singapore Institute of Food Science and Technology, and the Malaysian Institute of Food Technology. Food Conference 1982 will
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    • 62 3 UNITED Overseas Insurance Ltd has appointed Miss Lee Soo Kwan as chief manager. She was also recently appointed executive director of Sun Alliance Insurance (Singapore) Ltd whose operations are managed by United Overseas Insurance. Prior to joining United Overseas Insurance, she was fire and accident manager with
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    • 264 3 DESPITE a downturn in the property market, property developer Kwok Wai Hoi is proceeding with his new housing projects. Mr Kwok, owner of the KWH Group, is embarking on his third and fourth projects at Keng Lee Road and Toh Tuck Road. His first housing project
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    • 492 3  -  By SALMA KHALIK ADDING chocolates to an established business in building materials and institutional furnishings may represent a significant change for most people. But for Mr Wilson Cbeah, a director of Mint International, it is all a marketing game. Mint International is known
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    • 301 3 THE Canadian companies participating in the Offshore South-east Asia (Osea) show which ended here yesterday chalked up total sales of 58.7 million. Mr Horst Schmid, Minister of State for Economic Development and International Trade for the province of Alberta, said the show was extremely
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    • 70 3 AN 11-member trade mission from the Birmingham Chamber of Commerce and Industry is in Singapore to promote a range of British products here. These include API ring Joint gaskets for onshore and offshore platforms, rim fastening steel drain test plugs, borehole pumps and alloy wheels. One of
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    • 504 3 ENDEAVOUR Services (Singapore), a New Zealand-Singapore joint venture dealing in consumer goods and office equipments, is about to enter the growing market (or car accessories. The company will introduce next month a range of New Zealand-made weather shields and headlight covers for cars. The
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    • 458 3  -  By WANG LOOK KEAH SINGAPORE has become a mini-Houston over the last decade with the rapid growth of the oilfield industry in South-east Asia. There are now five rigbuilding yards, 25 major US oilfield equipment manufacturers and over 300 sales and service companies. The
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    • Article, Illustration
      641 3 A TRAVEL trade magazine focussing on the five Asean countries will be launched this month. Called Destination Asaan, it is published by a newly-formed Singaporeregistered company, Venture Publishing Pte Ltd. Although the first issue was originally intended for publication next month, it has been brought forward and dated
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  • Page 3 Advertisements
    • 100 3 0$ 0 I A A m VENUE: SEA VIEW HOTEL, Ist Floor (next to Yaohan Katong) DATE/TIME: 19 2 82 20 282 am—B.oo pm) 21 282 OP en t0 Public Over 2000 books on display and sale Special Lucky Draw for School Orders Special Lucky Draw for Cash Customers 20.2.82
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    • 107 3 THE SPECIAL EVENT FOR THE PHARMACEUTICAL INDUSTRY PI I A D AC V FEBRUARY 17-20 1982 rMAKMbAg2 worl s d .n t^ r c l ntre An international display of raw materials, laboratory equipment, manufacturing machinery, chemical and pharmaceutical products. Complemented by HE4UH CARE AStk 82 Singapore's first international exhibition
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  • OVERSEAS
    • 321 4 Reuter THE unified US budget deficit of US$9l.5 billion in fiscal 1983 forecast by President Reagan will be "significantly surpassed", Salomon Brothers Inc economists said in a report on the budget. The economists, led by chief economist Henry Kaufman, said this is
      Reuter  -  321 words
    • 189 4 UPI AGRICULTURE secretary John Block has defended the sale of 150,000 tonnes of corn to the Soviet Union saying there is nothing wrong with selling the Russians grain as long as they have money to pay for it. "It doesn't make any sense
      UPI  -  189 words
    • 149 4 UPI INFLATION in the West dropped below the double-digit mark for the first time in two years but the improvement may be short-lived, the Organisation for Economic Cooperation and Development (OECD) said on Thursday. Consumer prices rose 0.5 per cent in December, bringing the overall figure for 1981
      UPI  -  149 words
    • Article, Illustration
      416 4 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Tanjong (after Atrevida, must vacate 1500/14 th) 31/32 Equator II (after Kim Soon Li) 22 Hongqi 189 (1500 subject freeboard) 25/26 Iweri (0700) 20 East Kota Manis (1830 after Kota Jaya) 10/11 Niaga XXI (0700) 27 Nedlloyd Nagasaki (0600) 1/2 Stolt
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    • 670 4 NYT PRESIDENT Reagan may give Congress leeway to trim his 1963 budget but is not prepared to compromise on cuts in income taxes and increases in military spending. This was revealed after a meeting he had with Republican leaders in Congress who told him that
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    • 457 4 AP SIR Freddie Laker yesterday again reached for the sky to launch a slimmed-down version of his no-frills airline in a 50-50 partnership with another buccaneering British tycoon, Roland "Tiny" Rowland. But Laker's bid to launch a new low-fare Skytrain from
      AP  -  457 words
    • 313 4 AP WEST GERMAN Chancellor Helmut Schmidt has said the crisis over Poland is not "the cardinal, central problem" in East-West relations, but an "external trigger" highlighting the need for East and West to negotiate arms limits and end confrontation Speaking to a newly-form-ed
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    • 364 4 THE entire top Chinese leadership, not seen in public (or more than two weeks, may be in the provinces preparing for a "major event". Vice Chairman Deng Xiaoping has not appeared in public since Jan 12, and none of the other members of
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    • WORLD IN BRIEF
      • 507 4 TROOPS loyal to the regime of Syrian President Hafez Assad appear to be getting the upper hand in clashes with Islamic fundamentalists in the northern industrial city of Ha ma, Western diplomats say. The government on Thursday played down the l&day siege and denied Western reports
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    • 362 4 MALAYSIA'S current account deficit this year is now estimated to be MS6.B billion, in view of the rising value of the imports and declining proceeds from exports. This implies a small increase over the 16.4 billion deficit assumed when the 1982 budget was presented last
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    • 350 4 AP DEVELOPING countries in Asia will need up to US$63 billion a year in foreign financing by 1990, but will have trouble finding the money because of economic stagnation and "aid-fa-tigue" in developed countries, the president of the Asian Development Bank said
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    • 720 4 ARRIVALS Service Local v Operator Number Time From RBA BI421 0955 BWN MAS MH651 1000 PEN/KUL MAS MH680 1010 BKI/MYY/KCH SIA SQ201 1030 HLP CAL CB14 1030 HLP CPA CX710 1030 HLP GIA GA960 1100 HLP SU SQ103 1115 KUL THAI TG403 1120 BKK PAL PR501 1130
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  • Page 4 Advertisements

  • AEROFLOT DAY
    • 728 5 The dynamics of air passenger turnover can be well seen from the following three figures: 433,500 and 550 million people. The first two figures show the results of the operation of Aeroflot in the Ninth and Tenth Five-Year Plan periods,
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    • 500 5 To mark the achievements of the Soviet state airline, Aerofiot offices throughout the world will celebrate 'Aeroflot Day' on 14 Feb. Less than a year ago, the IL-86 airbuses, born In the Sergei Ilyushln design office were put into commercial operation. Developed for air
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    • Article, Illustration
      227 5 By OI«g Antonov, Qwwral Aircraft Designer On New Year's eve, state tests started on the new AN-3 agricultural plane. This machine will replace the widely used AN-2 biplanes. And AN-2 has been in its 34th year of operation now. The plane's good takeoff and landing characteristics, reliable
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    • 212 5 Soviet civil aviation was born 60 years ago. Over these years rapid changes have occurred in Soviet air fleet. Since it was established in the 1956. Aeroflot has been on the frontier of s c i en tific-technical progress. The airline has one of the strongest
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  • 379 6 IN HIS INTRODUCTION to Geoffrey Dut ton's book, Impressions of Singapore, Ambassador Tommy Koh wrote about the Republic: "The society is crassly materialistic. Eating, shopping and gambling are the only 'performing arts' widely appreciated in Singapore." While it is understandable that the arts are still
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  • 273 6 NO MAN IS an island. Even the economically moat powerful country cannot remain totally isolated and hope to continue steady growth year after year. The course of events has made all nations of the world interdependent. Of course, nations, like their people, develop
    273 words
  • 1597 6  -  The twice-yearly fashion shows mounted by the elite circle of French haute couturiers are the glamorous show-cases of France's eighth biggest industry. LUCIA VAN DER POST takes us behind the doors of the gilded salons of Dior, Yves St Laurent and Cardin for a closer look. LUCIA
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  • 741 6  -  By ROGER COHEN Reuter A GOLDEN TIARA, embedded with amethysts and decorated with embroidered images of an eagle and four evangelists, lay on a shelf in Dirk Slabbinck's office in a small factory on the outskirts of Bruges. "That is for the Patriarch of the Orthodox
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  • Page 6 Miscellaneous
    • 618 6 I I -li on CBOSBWORD CBYFTK PUZZLE 4 Eitoj nMtttal saucy 7 Battle of south Loodoo! (I) t Doss this cabinet meet in daitneas? (8) 1* A drip's propeller? (5) 13 Concerning Ed and Oliver, ■V (4) 14 Learn some of the arithmetic (4) 15 tee of those places with
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    • 31 6 BriStaW: Frank Dickens SgggP iv*'?tf*. 'iXj SK> e>LTT LOOK. f^r-rne Neves miND p^eouT—33* T eu_ VOJ LdHfYT WOLO U)C SHBRe TFV< I p &LPCK f7!^3! CHPfC MIS ufcSTS SUOOjf u "4
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    • 590 6 Truman versus MacArthur THE OUTBREAK tt the K*- MacAiitar wMIe 1 Omrm: Trmmma nr M»e- gam, BmmeS'jJkiu Ar*mr(+t*UM). t Mi L It b ikitt tke ewti km 8tUna tta Im- Ak far <ta, Amtnm Df. All thm paefi Mh LM J IMI 7 3CE Far Eact Beary Mtatte 7J|), tte
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  • 920 7  -  To many people, it is the Marco Polo Hotel at the corner of Tanglin Road that comes to mind when one thinks of good service. Many foreign bankers on business will insist on staying at the Marco Polo. Singaporeans, too,
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  • 875 7  -  FORUM < with AGNES WEE IT WAS a rather conventional sort of Christmas card that my colleague passed across the desk to me at the office one morning. I presumed it was a belated Christmas greeting. But strangely, the card was without an envelope.
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  • Page 7 Advertisements
    • 124 7 The pick of dictionaries V CHAMBERS Dictionaries, General and Children's Books TWENTIETH CENTURY J DICTIONARY Revised edition with new supplement The Twentieth Century Dictionary stands alone among single-volume dictionaries. It has retained its place by adapting to the times, to changes in our language and this tradition continues. MOST COMPREHENSIVE
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • 184 8 rtB 11 Fls abn ***** 3J Ahoid 66 40 18 Also 27 40 -01 A KIEV 8100 4- ]J Am fas 10.70 -1.1 Amrotmk 4ft. 50 1.2 Bergots Berk 22.00 -0 5 Bote 60 00 unch BorsumlJ ***** -1 Burhmann 37 60 -0.7 C aland 34 30 4-0.6 Calve
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      • 240 8 FEB 11 Prs CORBEILLE Alr-Llqulde 472 5.5 B S N Ger»*ls D&none 1470 40 CSF (ThomsonCat) 238 3 Cle Frmncaise Dm Petroles ***** 4X7 Compafnle Financiers Compagnle Oenerale Credit Foncler De France 344 8 HicluUt (Llbralrle) 418 -1 Machines Bull 28-56 -0.75 Mlchelln (B) 742 2 Part has Pechlnej
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      • 91 8 FEB 11 Fr* FORWARD MARKET Accc 383 4 Arbed 1240 Ajtur 460 21 Bructn 962 >10 Bru-Ljunb 1500 Canptc 1338 8 Cock 206 8 rw IWra 297 •3 Ebei 2000 Elcctrobcl 4300 tf Gb-Inno-Bm 2610 40 Ocv 1800 -10 Hobok 2920 100 Retro 4585 5 Rjrl Dutch 1410 10
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      • 214 8 Aej-Telefunken uncti Akxo 24 90 -0 1 AJU Leten 1606.00 10 A1U Vers 452 00 2 BASF >32 70 -2.1 Bay H T Wbank 142 50 Bay Vbank n Bayer ***** -05 BBC***** BMW XT> 20 -08 tassel la 240 00 2 Chem Verw ***** tommmbtnk 2.5 Contl Gummi
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      • 187 8 FEB 11 Francs Actions Sutsses Alusutsse Br. Alusuisse Reg Brown Bcverl Br Clba Oelgjp Br Clba Geigy PC Clba Oelgy Ret Credit Suliv Br Credit Suuh Reg Elektrowatt Br George Fischer Br Globus Pc Hero Br Hoffman La Roche 1/10. Holderbank Br Inter food Br Jelmoll Br Motor-Columbus NesUe
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      • 98 8 FEB 11 Lire BulOfl in s Bel ***** an Central* Ord 5130 112 Cond Acqua Roma 212 unch Eridanla ***** Flat Ord 1612 27 Oenerall 144*75 l«2f> Ota 280! Ifl Prlv 3100 -X Invest 2TO 10 Ilalcemenu Ord ***** 500 Italfas M0 30 i Lrpetit Ord ***** unch Mediobanca
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    • 213 8 FEB 11 C* AblUM Alcan Alcorn* Bank Mont Bank Nova Scotia Bell Tel Brill Corp BP Can Lid Brasran Camp Red Lake Can Imp Bk Canpac Can par Inv Pf Carltnf OTteefe Comlnco Cons Bath Com Marbenor Dankoe Dentson Dom Stores 23W arr* 21*. 23 V. 17H 23 ao«*
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    • 287 8 FEB 11 Rand INDUSTRIALS A Alpha 475 A be rcom 425 AE And CI 900 unet! am«c 3225 -25 Barlows 1035 -5 Cf Sugar CHA 1730 750 unrh -5C Currte Finance 270 -10 L> Beers Ind Edcon 1250 unch Edgars Eve ready Fed Vol* 566 uneh t uglt 296
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  • Page 8 Advertisements
    • 213 8 Where to wine, dine and entertain Don't leave home without it. To apply for the American Express Card Call: *****33 OSkih Hnnwenianit Special (Buj-fit buncfxm The true Singapore flavour— only $8* v Our popular Nonya Buffet Luncheon at a special price. I#w f :> f 12 noon to 2.30 pm.
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    • 90 8 ffrJAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights. (/(j 'l' 1J Ml (> ■>( I n hor reservations call 737^677 10 ID J k® nilui'N I'«irk m *i*j*l«»i i *">i i ►< »i*«' offers 21 JAZZ BRUNCH on Sundays 11 am. 3 p.m. $21++ per person Please
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    • 157 8 |><!_;=">/`}^@|,(']:*>>`!~$(|%% TIVE CONTINENTS RtSTU RANT Before you fly away to foreign lands, check-in your bags then seek out the Five Continents Restaurant. Relax in intimate surroundings and wine and dine on the most superb international cuisine you've ever tasted. Lunch 12 noon 3 pm Dinner 7pm 11 pm For reservations
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    • 184 8 When you dine, dine Cantonese. 2-V If pleasing your palate is achieved only by eating the best, then dine Cantonese at The Inn of Happiness for the best Cantonese cuisine outside Canton. And a standard of service that's exquisitely Hilton. So come. The stage is set for an evening to
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    • 134 8 Rfeasgood as going toBangkok. «GSi (tr<) i This i* Thai Seafood at its authentic best So fresh, it could have been alive 15 minutes before coming to your table It was An enormous variety of succulent seafoods expertly prepared by Thai chefs m our kitchen Siamese Seafood Restaurant 4> wocnpn
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  • RAW MATERIALS
    • 175 9 CHINESE Pwil Exefcaage, Stagapwe, mm eMag prices per 1M kg yesterday. CwMt all: Bulk fob 1100.00 sellers, old drum (in second hand drum) fob $112.00 sellers, new drum fob (116.00 sellers. Cspva: Mixed (loose) {50.00 buyers. Pepper: Muntok white pepper fob Asta NLW $372.50 sellers, Sarawak white pepper
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    • 196 9 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) CattM yarn: China Blue Phoenix 2fe 2,480; 32s 3,175, 40s 3,215 (per bale at 400 lbs). Piece gsats: China Butterfly and Globe brand unq; Dragon Head unq; Five Lambs unq; Flower and Butterfly
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    • 320 9 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.30, 100 per cent second class 1.05, 100 per cent third class 1.03, 25 per cent new crop no stock, B-10 per cent no stock. THAI BROKEN: A-super 0.70, Special
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    • 77 9 THE STRAITS tin price in Penang yesterday fell 25 cents te Ms33Jt n Idle, still within the ITA middle secter of $32.K and $34.18. The centinned fall was in line with the weaher overnight Louden market, while redneed hnylng from Japan and locally also contributed to the easiness.
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    • 32 9 Rubber: Feb 12 Singapore: March: 180.00 cents (up 1.75 cents) Malaysia: March: 205.00 cents (up 2.00 cents) Tin: M 533.90 (down 25 cents) Official offering: 200 tonnes (down 25 tonnes)
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    • 185 9 SOYBEIAN futures in Chicago on Thursday broke late to close at or near the bottom of an 8V« US cent range, down IV* to five cents a bushel. Sympathetic local selling in response to the technical decline in soyoil futures touched off wire house and local stop-loss liquidation once
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    • 1142 9 NEW YORK STOCKS STOCKS IN New York on Thursday closed narrowly lower with takeovers and special situations providing the only excitement. The Dow Jones industrial average finished off about two points, declines led advances by around 760 to 640 and volume rose to some 47 million shares
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    • 283 9 RUBBER prices in Singapore yesterday closed slightly higher with March One RSS buyers quoted at 180.00 cents per kilo, up 1.75 cents from Thursday's close. Morning prices were marked up slightly on trade and speculative buying coupled with some fresh forward enquiry. Afternoon prces gained some ground on some
      283 words
    • 319 9 RAS prices In cenU per kilo yesterday Noon (per kilo) Aqnn Sellers Int. 1 R.S.S. prompt f.o.b. 175.00 178.00N Int. 1 RS.S March 179.10 190.50 Int. 1 R S.S April 1X2.50 183.50 Int. 2 R.S.S. 1C7.00 100 OON UK/Coat 100.00 168 00N Int. 3 R.S.S. 163 00 165
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    • 115 9 NOON SSR and SMR pnem ym H4IT RA8 Mtnk April issa 1 Mlk) (FtmH Mlk) Baym 8*1 llara SSR 30 (I toapalfeti 186 00N I87.00N 187.00 188 OON SSR SO (1-toB palkt) 10.00 186 00N 186.00 187 00N MRXLB Marah April SMR CV SMR I. (1 too
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    • 186 9 BRAZIL'S 1982-83 frost-dam-aged coffee harvest is estimated at 16 million to 18 million bags, compared to 32.5 million from the 1981-82 crop. The US Agriculture Department said on Thursday that the latest estimate was based on "an extensive field survey by the US agricultural officer
      186 words
    • 140 9 WHEAT futures in Chicago oo Thursday partially retreated late oo sympathetic local selling following weakness in other markets, and closed up iv 4 US cents a bushel to down 1V« cents. Aggressive commercial demand 00 the day. Corn futures retreated late and settled with prices fractionally mixed. The late
      140 words
    • 812 9 COFFEE: Robusta coffee futures yesterday regained 18 month highs in the third position on renewed general buying baaed on nearby supply tightness and positive chart interpretations, dealers said. Futures ended the morning £64 to £22 higher with near March widening its premium over May to £96 at £1,415
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    • 158 9 THE Kuala Lumpur crude palm oil market yesterday finished steady despite some light late selling in moderate trading, dealers said. In February, south closed unchanged at M 5965 a tonne, while north dropped $2.50 to $982.50. In March and April south gained $5 and $10 to $975 and
      158 words
    • 591 9 THE US will increase tin stockpile sales if a reduction in Malaysian output creates a marketing opportunity. This declaration of intent from Washington implies a bid to thwart the efforts of Malaysia in seeking to protect the price of tin in
      591 words
    • 437 9 MARDEC HAS intensified its purchase of rubber from smallholders during the current weakness of the market. The Malaysian Minister of Primary Industries, Datuk Leong Khee Seong, said 00 Thursday (hat the agency is obliged to purchase every kilogramme of rubber offered by the smallholders
      437 words
    • 232 9 SOFTER conditions persisted, as March One RSS fell back Bve cents in thin and lack lustre trading, MMay, Catier, Balk ami Ciipaay, said in its rubber review of the week ended Feb 11. After holding up initially, the easiness was sparked by the last day discount of
      232 words
  • Page 9 Advertisements
    • 248 9 fflVu u. •< VVHJ>VILA<VA> *5585^ Philips' ILLUSTRATED ATLAS THE WORLD What makes PHILIPS' ILL VSTRA TED A TLAS OF THE WORLD the most comprehensive, accurate and modern atlas now available? PHILIPS' ILLUSTRATED ATLAS combines maps, illustrations and text in a reference book that is visually exciting, very readable and packed
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  • 1557 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 Acma (1668 2.706)
    1,557 words
  • 185 10 HNGATOU UNirntOT DIAMOND KOI rrrofti K (■■HW fhtm fcr Fe> U) (Ml—mi' (rleaa tor Feh 13 A U) The Commerce 2 B 3 10 Diamond The Savtngi Fund 183 l.M Spore Ftf (USI) on 0A2 S pore Prog Fund 1 JO 1.34 S| 117 S pore Sec. Fund
    185 words
  • 2760 10 1M1/1MS Hifk Low Coapuy Last Sale +orGr's DW Dfr CTT Gr's Net rid PIX Vol Day COOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 494 115 360 312 420 200 *70 532* 675 430 248 US 130 ISO 306 79 S60 220 322 231 A cm*. Alcorn Allied
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  • 1822 10 C BID and offer price* officially 0 listed and business In and re--0 ported to the Kuala Lumpur T Stock Exchange yesterday. with the number of shares p traded shown in brackets in j lots of 1,000 units, unless other T wise specified. INDUmiAU -J IJbimli (14»)
    1,822 words
  • 80 10 THE New 8tralte 11m Pnai (Malay*) Bertod: AGM to be held in the company's theatrette, Balai Berita, 31 Jalan Riong, Kuala Lumpur on Feb 20 at 11 am. MALAYSIAN Ttkaee* Campaay Berfcad: AGM to be held at 178-3 Jalan Sungal Besi, Kuala Lumpur on Feb 24 at 11.30
    80 words
  • 698 10 MANY stocks rcceveced h •ftorssoa tnOag ywtoMsy trsfls their wmt levek aa USe baytog sappsrt hepee a recovery. Altheogh Uws Mill litBSBberM galas, ossj paatocs «on reßeved that oksn |0 threagh to «hew gatoa"aTretara to everaight levels. The Straits Tlmtm tmimatrtol todex M osly LK pstoM
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  • 605 10 SOME last-minute buying prevented what could have been a broader decline as stocks closed slightly lower at the Kuala Lumpur stock market yesterday. After opening higher, values lost ground till the lunch break and this was extended in the afternoon until some late support filtered
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  • COMPANY NEWS
    • 1086 11 Market Talk... MALAYSIA could well prove to be the most attractive market to the investor since its currency unit will be appreciating against both the Hongkong and Singapore dollars in the medium to long term. This is despite the fact that Malaysia
      1,086 words
    • 811 11 LONDON, Thurs. The market extended yesterday's advance with government bonds gaining as much as one point, helped by the US Federal Reserve Board chairman's testimony to the US Congress yesterday. The FT index closed at 572, down 1.7 points. Equities ended narrowly higher after an irregular trend. Gold
      811 words
    • 722 11  -  By DAVID CHOW THE JOHORE State Economic Development Corporation is quietly taking a series of moves to consolidate its interests in various estates both in and out of the state. In recent months it has been acquiring stakes in little-known rubber companies listed in
      722 words
    • 663 11 PROSPECTS of a fresh lease of life at Gopeng Consolidated have brightened considerably with its recent sale of a 30 per cent share to the Perak State Development Corporation. According to London stockbrokers Laurence, Prust, Gopeng should be able to obtain approval to convert into
      663 words
  • ASIAN STOCKS
    • 237 11 HIGH local and US interest rates along with weak performances by Australian miners in London overnight kept the Sydney market on its recent downward course yesterday. At the close the All-Ordinaries index was down 3.5 at 526.9. The industrial measure lost 4.7 and the resource indicator was
      237 words
    • 483 11 SHARE prices in Tokyo yesterday fell sharply in thin trading, and the market average broke through the 7,700 level with Investors discouraged by the fall of the yen against the dollar, dealers said. The market average closed at 7,690.29, down 70.82 and at a four-week low, while
      483 words
    • 92 11 SHARE prices in Bangkok yesterday closed generally steady in selective trading, dealers said. The Book Club index rose 0.11 to 93.70 on a turnover of 19 million baht. r*B 12 Bants Asia Plbn 131 unch Arathut In* And Trust Bangkok Bank Bant Of Ayudhaya I 290 unch Ltd 196
      92 words
    • 53 11 FINANCIAL TIME8 INDUSTRIALS Thursday 572.0 Wednesday 573.7 Week Ago 574.8 DOW JONES AVERAGE INDUSTRIALS Thursday 834.67 Wednesday 836.66 Week Ago 847.03 H.K.HANG SENG Friday 1270.04 Thursday 1256.57 Week Ago 1365.70 AUSTRALIAN INDUSTRIALS Friday 670 0 Thursday «74.7 Week Ago 689 8 ALL ORDINARIES Friday 526 9 Thursday 530.4
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    • 361 11 HONGKONG THE Hongkong stock market yesterday recovered from an early decline to reverse its recent extended downtrend, dealers said. They said prices were buoyed by speculation of a better than expected tender price put in for the Connaught Bus Depot site, Central Hongkong, for which tenders closed today.
      361 words
    • 54 11 THE Manila stock market yesterday was mixed as the commercial/industrial sector remained depressed while miners and oils continued firmer dealers said. i v.M i«■ i Oriental B an unch Phil Onncu DM6 0000B Phlicx A Phlkx 8 Pioneer .1919 -***** PLOT HZ ssjft unch Pod co B Po«cl .0038
      54 words
  • Page 11 Advertisements
    • 246 11 Books by the Central Statistical Office, Britain's principal provider of statistics now available I through Federal CSO Publications Order Form A. SUBSCRIPTIONS I wish to subscribe to the following publications. Social Trends A. SUBSCRIPTIONS I wish to subscribe to the following publications. Tick No. of Annual Sub. Sum Mart Title
      246 words

  • Chief Price Changes
    • 154 12 Rises Indices Hou L«oi| Ind Sal Prop«rtiei OCBC D B 8 nun Corps B Rtyi 010 550 20 15 Feb 11 Feb 12 1120 795 356 10 10 10 BT Indicator: HQ199 *****2 Industrials: 753.80 750.82 254 10 Finance: 1711.84 1704.91 Ttipiif Textile UOB 270 9 Hotels: 1116.81 1118.88
      154 words
    • Article, Illustration
      165 12 THE DECLINE la share prices ea the Stock Exchange of Stagapore wis somewhat arrested yesterday bit lasses still eatnambered gains. lie Straits Times Industrial Index lest 2JB paints te 751.82 while the Business Times Indicator sf the day's II mast active stacks fell 137 points te 181M2. Rises
      165 words
  • 355 12 SIME Darby Bhd has acquired a 4.99 per cent stake in Mortlock Brothers Ltd, a Western Australian car dealer. According to a Malaysian press report, the stake in Mortlock Brothers was offered to Sime by certain shareholders of the Perthbased company. Mr R
    355 words
  • 660 12  -  Wilis Ml W^yiWll Companies Editor: Mano Sabnani By KOH TSE YING SPP Ltd has run into a hitch over its proposed acquisition of a 50 per cent stake in Island Country Club Condominium Pte Ltd (ICC). Teck Say Holdings (TSH), which holds 50 per
    660 words
  • 462 12 THE PERAK State Development Corporation (PSDC) has acquired a stake in yet another tin mining company. This time, it is Rahman Hydraulic Tin. la an agreement reached on Feb 10, Rahman will issue 5.625 million new shares of $1 each to PSDC, representing
    462 words
  • 62 12 MR CC TAN relinquished the chairmanship of The Straits Times Press (1975) Ltd at a board meeting yesterday. Mr Tan, 70, had already announced his intention to retire in favour of a younger man. Mr S R Nathan, 57, was appointed executive chairman of the
    62 words
  • 39 12 A HONGKONG Land subsidiary, Mulberry Land, yesterday won the tender for a 13,400 sq metre prime site in Central Hongkong with a bid of HKR7SS billion. The Hongkong government said three tenders were received for the site.
    39 words
  • 188 12 Reuter THE ROYAL Bank of Scotland Group will search more aggressively for overseas acquisitions under its reorganised management structure announced yesterday, new group chief executive Syd Proctor said. He said a new group planning unit will be farmed under Bill Dacombe and based at
    Reuter  -  188 words
  • 491 12 MALAYSIA Mining Corporation's (MMC) venture into diamond exploration in Australia is beginning to sparkle. The Ashton joint venture, which is prospecting at Smoke Creek, has discovered an equally diamondiferous area in a neighbouring river bed called Limestone Creek. Like Smoke Creek, Limestone Creek appears
    491 words
  • 119 12 PAPER Products (Malaya) Bhd yesterday asked the Kuala Lumpur Stock Exchange to suspend temporarily trading in its securities, pending its replies to queries. The KLSE has queried PPM on its proposals to sell its 51.5-per cent shareholding in United Pulp and Paper as well as
    119 words
  • 188 12 MALAYA Tin Printing's pahttc effer ef fear mllltoa shares at $1.41 each hat beea sahserlbed by mere thaa five timet. Aeeerdlag to Baafae Nattoaale de Parte (8 E A), mm a( the tw* maaaglag aaderwrlters atf the tene, esrperato staff ef the BNP (SEA)
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  • 621 12 mm*** by HOCK LOCK SIEW THE RECENT changes at Paper Products (Malaya) entry of new owners and proposed sale of United Pulp and Paper shares have taken place in a quiet, almost secretive manner. Whatever is brewing at the company, one suspects a reluctance on the part of
    by HOCK LOCK SIEW  -  621 words
  • 57 12 NATIONAL bN ui 8M Milk has appointed Ong Lay Khtam alternate director to Lock Sal Hung from Feb 3. Talptag Textiles has replied to the KLSE saying that it was not aware of the matters referred to in an article quoting unconfirmed reports that the company had acquired
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  • Page 12 Advertisements
    • 302 12 Worldwide management experience at your fingertips. Wor d o*Executives Digest FRAIID-the inside threat I. Early-Warning Signs of Fraud The Office 11. How to Keep Purchasing Clean Financial Executive ID. Computer Fraud and Fiction Harvard Business Review IV. What Managers Can Do About Fraud Financial Executive Company Heroes "Managing for Success"
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  • Page 12 Miscellaneous
    • 60 12 WEATHER! OUTLOOK for Singapore today: Generally fair and sunny. Showers in late afternoon Report tor 24 hwn prtor to 7JI pm m Feb 12 at the airport: Maximum temperature 32.9 Associated humidity 56 Minimum temperature 23.5 Associated humidity 94 Hours of sunshine 8.05 Rainfall in millimetres Nil Total rainfall for
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  • LEISURE TIMES
    • 964 13  -  By PETER BARNARD SOMEWHERE on the memory horizon behind me lies the point at which I came to the conclusion that women are fundamentally more interesting than men. It would be convenient to say that this realisation arrived like a thunderclap with the meeting of eyes
      964 words
    • 58 13 MUNCHING away at what he called "local cheese" (that is, cheese from the supermarket at Orchard Towers), Daguin related two tales: Recently, Blanc, a cheffriend of Bocuse, was awarded his third star. And what did Bocuse do? He hired three stripteasers and told them
      58 words
    • 320 13  -  T PHADOEMCHIT at Blanc's restaurant. Whether or not they were told to stop performing, Bocuse instructed, they should still "finish it off." And what an uproar! Some guests were truly annoyed; others sat quietly and smugly. Blanc, wife and son ah! They dashed out into the kitchen and
      320 words
    • 806 13  -  By T PHADOEMCHIT NOUVELLE CUISINE, Chinese cooking, evolution in the culinary arts... These were some of the enlightening issues chef-patron (that is, chef who also owns the eating house) Andre Daguin of Hotel de France a Auch discussed last weekend at Hilton's Harbour Grill.
      806 words
    • 494 13  -  By SALMA KHALIK THE SPIRIT of friendship and goodwill symbolised by the Elf Chine is still running strong. Hie Chinese junk sailed into Singapore last month, badly in need of repairs. They had a run in with the Malaysian Navy between Pulau Tioman and Singapore. A large
      494 words
    • 303 13  -  By RICHARD SEAH A MIRACLE occurred recently. Seven-year-old Julian was suffering in hospital. He had an unusual cancer which spread so quickly, doctors gave him less than six months to live. Julian felt so much pain be could not eat anything. A hospital nurse was
      303 words
    • 852 14  -  MASTERS 1982 By CHARMAINE CHAN THE OLDEST professional in the field, Chang ChungFa, may have had another day of poor putting, but he is still ahead after yesterday's third round of the Rolex Masters with a 214 total. Chung-Fa, 52, registered his worst round of two-over par
      852 words
    • Article, Illustration
      904 14 MOTORING with Hermes ONE of the perks of being a motoring journalist is the opportunity to test drive a wide range of the latest cars available in the market. Of course it is always more fun when the test cars are in the up-market categories the more
      with Hermes  -  904 words
    • 710 14  -  CHARMAINE CHAN ONCE SPONSERSHIP has been secured, the course confirmed on the set tournament dates and the field signed up, that's when cooperation by all three parties is needed most. Peter Clutton, Tournament Director for the Professional Golfers' Association of Singapore, emphasises: "What it takes to
      710 words
    • 92 14 THE SINGAPORE Cm tract Bridge Amriittw will be balding Ha uaul Opes Pain event en the last weekead at the meath. The can teat will be held at tbe LadyhiU Hetel, Aaeet Beam. Play will eamprlne twa Trtm a day. Oa Feb 27, play will be Crem 2pm
      92 words
    • 985 14  -  i mm By RONALD KOW THE TALK of the week is professional football. To be a bit more specific, it is professional football for Singapore. Admittedly, this is not a new matter. No one can lay claim to having just this week come up with the
      985 words
    • 428 14 TODAY: GOLF: SICC: Climax of the 72-hole Rolex Masters will be reached today when the field of 96 professionals plus ties and the eight amateurs plus ties complete the final round this morning. This $50,000 tournament at the Bukit location is the opening leg of the Local
      428 words
  • Page 13 Advertisements
  • Page 13 Miscellaneous
    • 663 13 WHAT WHERE KITE FESTIVAL DONT miss the Stagapore Kite Festival *82, today and tomorrow at the West Coast Highway. Altogether 185 entries from 145 participants have been received for the Open and Students' sections of the competition. Judging begins today at 9am, and kite demonstrations will be held from spm.
      663 words