The Business Times, 8 May 1982

Microfilm: NL12081
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) No. 93/1/82 SATURDAY, MAY 8,1K2 60 CENTS
    10 words
  • Article
    Mobil spends $70m on energy conservation
    314 1  -  By LOH HUI YIN A $TO-MILLION investment by Mobil to conserve energy at its refinery will yield savings of $18 million or 290,000 barrels of fuel oil annually. A Mobil spokesman said the investment, spread over the next three years, is in line with
    314 words
  • Article
    Lock icon Signs of an oil price recovery
    243 1 Agencies SIGNS of an oil price recovery are beginning to emerge following a sharp fall in recent months caused by the world oil glut. This is the view of producers, consumers and oil companies as prices on the spot market firmed over the past
    Agencies  -  243 words
  • Article
    Developer asked to reduce hotel height
    360 1  -  By LEE YEW MENG THE developer of the proposed 81storey hotel in Marina Centre has been asked to reduce its height to 63 storeys because of interference with aircraft traffic lanes. This height reduction was confirmed by a spokesman of the Urban Redevelopment Authority
    360 words
  • Article
    S'pore Automotive looks for warehouse
    389 1  -  By LIM SOON NEO SINGAPORE Automotive Engineering (Pte) Ltd, the biggest vehicle servicing and repair company here, is investing several million dollars in a warehouse and warehousing equipment. Mr Ngo Chung Min, the deputy general manager, said the company is now scouting around (or a
    389 words
  • Article
    Lock icon US unemployment at its highest in 40 years
    146 1 AP UNEMPLOYMENT in the United States jumped to 9.4 per cent last month the highest rate in more than four decades the US government announced yesterday. Some 10.3 million people were out of work. April's jobless rate was up 0.4 of a
    AP  -  146 words
  • Article, Illustration
    Another great way to fly
    317 1  -  •y RICHARD SEAH ANOTHER "great way to fly" will soon make its appearance in Singapore. Called Flyaway, this new form of entertainment will literally make a person float in air without having to put on wings or to be hung on wires. No magic is
    317 words
  • BRIEFLY...
    • Article
      Lock icon Falklands dispute
      66 1 UPI LONDON, Frt. Britain said today it will recapture the Falkland Islands by force if necessary, but the government said it will continue seeking a negotiated settlement through the United Nations. "If Argentina rejects all peace proposals, Britain may still try to take the Falkland» by force, although
      UPI  -  66 words
    • Article
      OUB to raise prime
      68 1 OVERSEAS Union Bank will raise its prime lending rate by a quarter percentage point to 10 per cent from May 10. This brings it in line with the other banks in the Big Four local hanking group United Overseas Bank, development Bank of Singapore and Over
      68 words
    • Article
      Lock icon Caltex Philippines
      92 1 AFP MANILA, Fri. Caltex Philippines, which has gone into geothermal power exploration here, has indicated its willingness to invest up to US$29O million upon discovery of the viability of geothermal energy production. Its vice president Francis Ablan said his company has already allocated $700,000 in its initial exploration
      AFP  -  92 words
    • Article
      Lock icon Car registrations
      80 1 UPI TOKYO, Fri. Reflecting a downturn in the national economy, Japan's new car registrations in April plunged 41 per cent from the previous month to 228,471 units. Trade figures released today also showed a 10.9 per cent decline from the comparable period a year ago. The Japan Automobile
      UPI  -  80 words
    • Article
      Lock icon Candid admission
      80 1 AFP CANBERRA, Fri. Australian politicians are so "handsomely" paid, they find it difficult to understand the problems of the nation's young unemployed. This candid admission was made by the Minister for Social Security, Senator Fred Chaney, who was replying to a question on how he would live on
      AFP  -  80 words
    • Article
      Foreign workers
      65 1 KUALA LUMPUR, Fri. The Malaysian government will regulate the influx of foreign workers, particularly Indonesians. Deputy Prime Minister Datuk Musa Hitam, who is also Home Affairs Minister, said he would submit a report to the Cabinet on the employment of foreigners. He said it is possible the illegal
      65 words
    • Article
      Cabinet reshuffle
      52 1 CANBERRA, Fri. Australia's Prime Minister Malcolm Fraser today announced an extensive reshuffle of his government following the resignation last month of two ministers because of a scandal over a colour television. Mr Fraser's changes included bringing in two new men and creating ministries of civil aviation and of
      52 words
  • Article
    Market index shows 11.8-point gain
    240 1 THE Btagapa rn itoek market ywtottoy ittgei a eplrttod weekead rally, partial Ike Stralta Timet taiialilil tode* to a laaMt <(tt gala tor the Oral time la weeke. Seatlmeat was baeyed by firm iTtrieai naarkHa, lapurtally New Yerk aai Heagkaag, bit leeal laveatora alee played
    240 words
  • Article
    Car rental operator seeks partners
    509 1 BESS Rentals Sdn Bhd, the Malaysian holder of the US-based National Car Rental franchise, is looking for Singapore partners to operate its franchise here. This move is in line with the US principal's effort to expand in the Asian region. Besides Singapore, National Car Rental,
    509 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      229 1 TTFTi Bookshops uGjaULSL TOTAL assets and profits at National Discount Company of Singapore soared sharply to new highs last year Page I NEC Computers has sold more than $10 million worth of microcomputers here and sales are expected to go up by at least 25 per cent annually Pag o
      229 words
    • Advertisement
      Page 1 Advertisements Column 2
      85 1 "Sweet Swinger" The MacGregor EYE-O-MATIC Classic. A classic wood with the famous siTaltov Eye-O-Mattc face Automatically points out the hitt*ig area to the sweet swinging type of happy players for deady accuracy! With further assurance of an easy swing from the added loft. The famous EyeOMatic classic Made from the
      85 words
    • Advertisement
      Page 1 Advertisements Column 3
      110 1 Sl\( \it >k fhJt month The fire business Focus on Japan Prefab housing Metal Box Cons. Plantation NEW WINE-ONTAP STAYS FRESIIER, LASTS LONGER FROM STANLEY LEASINGHAM. v \NU.\ I>|N 1 L HAN' >li\« One more golden reason to savour your favourite Riesling. The Stanley Leasingham Vintage Riesling in a new
      110 words
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  • BANKING AND FINANCE
    • Article
      Sharp rise in profits of National Discount
      279 2  -  By LEE YOKE MENG TOTAL assets and profits at National Discount Company of Singapore soared sharply to new highs last year in line with the buoyant discount market ftere. Total current assets rose by a Strong 65 per cent to $411.6 million by
      279 words
    • Article
      Tokyo urged to draw up blueprint
      185 2 YOSHIRO Araki, newly- elected president of the Federation of Bankers' Associations, said a mediumterm blueprint should be "drawn up for the liberalisation of interest rates in Japan over the next three to (ive years. n Araki. also president of 'the Fuji Bank Ltd, told
      185 words
    • Article
      Lock icon Gold demand expected to strengthen further
      536 2 Reuter THERE should be a further strengthening of demand for gold this year, while the supply of newlymined gold to the market is unlikely to increase, Gold Fields of South Africa Ltd chairman Robin Plumbridge said. He told an international mining conference the rise
      Reuter  -  536 words
    • Article
      Credit du Nord to take part in syndication loans
      262 2 FRENCH BANK, Credit da Nord, which ku set op its first Aslaa «(flee la Singspare, will Uke an active part ia syadlcattaa leaits aad the Aslaa dallar market. This was stated hy Mr Gerard Paid, the haak's depaty maaaglag director whe
      262 words
    • Article
      Lock icon Bullet train
      53 2 Reuter THE Bank of Tokyo has been named the lead bank for the Japanese portion of financing for a proposed bullet train between Los Angeles and San Diego. Lawrence Gilson, president of American High Speed Rail Corp, said the bank would provide US$5OO million in both debt and
      Reuter  -  53 words
    • Article
      BIS Systems sets up S'pore branch
      493 2  -  By ANGELINE TAN BIS Banking Systems, a British computer software company, has opened a branch here to cater to the needs of the growing banking industry. It wants to tap the rich market provided by the many offshore and international banks that have operations
      493 words
    • Article
      Lock icon Poland seeks easier terms
      418 2 Reuter POLAND will not be able to pay interest on its debts to Western banks this year if it is denied further credits for imports, a leading Polish banker said. Because its situation was more difficult than last year, Warsaw would seek easier terms in rescheduling
      Reuter  -  418 words
    • Article
      Lock icon Need for better method of debt rescheduling
      436 2 Reuter BANKS should develop better approaches to rescheduling the debts of countries in financial difficulties, according to a study by an international group of central and commercial bankers. The panel, set up by the Group of 30, which itself comprises senior public and
      Reuter  -  436 words
    • Article
      Lock icon EXXON FINANCING
      132 2 Reuter EXXON Corps planned offering of US$5OO million of guaranteed debt securities under the Securities and Exchange Commission's new shelf registration will be its only external financing in 1982, Jack Bennett, senior vice-president said. The 1500 million of debt is "the only central financing we have planned," he
      Reuter  -  132 words
    • MONEY AND EXCHANGES
      • Article
        Singapore market
        503 2 TRADING on the foreign exchange market yesterday was quite hectic with the US dollar weakening against most major currencies because of the anticipation of lower US money supply this week. Against the local currency, the US unit opened at 5J2.0805/15 and dropped to a low of Ss2.o7© before
        503 words
      • Article
        Tokyo
        147 2 THE dollar for overnight delivery in Tokyo yesterday showed some resilience in the face of its recent losses to finish the day firmer at 232.75 yen, after opening at a 10-week low of 231.60, dealers said. This was above the 231.55 75 finish in New York overnight, but still
        147 words
      • Article
        PLR
        22 2 THE average rate at which major Singapore banks are currently prepared to lend to their best customers is 10.40 per cent.
        22 words
      • Article
        ASIAN $ RATES
        184 2 ASIAN RATES ASIAN currency deposit interbank rates as at close on May 7: U8 Doll*r»(8pot) Offer BU 1 days 15 5/18 15 3/16 1 month 14H 14* 2 months 14 11/1# 14 9/1® 3 months 14* 14* 6 months 141/16 14 5/16 0 months 14H 14* 12 months 14H 14*
        184 words
      • Article
        Discount
        46 2 RANGE of prtc ■e» offered by di»count houaH on May 7: Overnight: 4* Call deposits 4* ClMtac Bayiag Selliaf 3-month Treasury bills 4 3H 3-month Bank bills 9 15/18 913/10 3 months CD 95/10 9 3/10 0 months CD 9H 9 Source: National Discount Co
        46 words
      • Article
        Treasury bill tender
        50 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from May 11 to May 14: Offered: 5150.000.000 Applied tar: $185,000,000. Allotted: $150,000,000. Accepted Mds: $99.02 approximately 81 per cent higher bids in full. Average rate of discount on allotment: 3.930 per cent per annum.
        50 words
      • Article
        Gold
        341 2 SINGAPORE gold futures yesterday closed slightly firmer than overnight levels after fluctuating marginally in light trading, dealers said. Total sales for the day, including kerb volume, was recorded at 349 lots. Prompt closed slightly higher at U*****.00/338.50 an ounce compared with 336.10/336.60 on Thursday, June at 340.20/340.50 compared with
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      • Article
        Silver quotes
        37 2 New York 6.82B 6 MB 6.89S 691S Zurich 6.75B 6.T7B 6 85S 6.87S M Than Singapore 6 80B (JOB 6 90S 6 90S Closing prices in US dollars troy ounc e. Source: Credit Suisse, S'pore.
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      • Article
        HONGKONG
        107 2 STERLING in London yesterday met support, rising to $1.8240/55 from an early 1.8218/28 and New York's 1.8185/8206 finish. The US unit also met some demand and rose to 2.2963/70 marks from 2.2938/ 45 earlier and the 2.2950'60 close in the US. However, the undertone for the dollar remained bearish
        107 words
      • Article
        London
        79 2 Opening quotes yesterday US 1 8238 45 Cu 2 2240 64 Cron 1.2197 22 D Mk 4 1888 930 D F1 4 6521 83 S Fr-3 4642 89 B Fr con 79 09 22 F Fr 10 9815 330 Ut 2326 90 2331 85 Yen 422 89 423 67
        79 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      389 2 Asia, at your finger tips... Other than speed reading, there is another way you can know a great deal more in much less time. The ASIA RESEARCH BULLETIN is a monthly information-packed report backed by in-depth and extensive research and ten years of editorial expertise. We have extracted and accumulated
      389 words
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  • TRADE AND INDUSTRY
    • Article
      NEC microcomputer sale
      248 3 SINGAPORE'S largest computer company, NEC Computers, has sold more than $10 million worth of microcomputers here and sales are expected to go up by at least 25 per cent annually. This figure does not include the sale of microcomputer software, whose turnover is projected at a much
      248 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      253 3 BANK of America has promoted four officers En Bmfc Baa Seag, Narmaa Taa Eag Haat, Sla Ha Maaa and Ireae Lee to assistant vice-presidents. Mr Seah is manager of the bank's South-east Asia BankAmericard Centre. He is responsible (or the Visa/ BankAmericard operation. Mr Tan, who joined
      253 words
    • Article
      Gut-feelings no longer reliable in modern business
      352 3 THE "gut-feeling" approach, using trial and error to solve problems, should give way to the scientific management of modern businesses. This advice was given by Filipino business professor, Mr Leonida Africa, to 96 Singapore accountants yesterday in a management accounting seminar. Urging the
      352 words
    • Article
      ICSA exemptions for Ngee Ann graduates
      263 3 BUSINESS studies graduates from Ngee Ann Polytechnic will be exempted from some examination subjects conducted by the Institute of Chartered Secretaries and Administrators (UK). With this exemption, the graduates can complete the Institute's two-year course in one and a half years. The exemptions are
      263 words
    • Article
      Telecoms signs supply contract
      192 3 TELECOMS yesterday signed a contract with Fujitsu for the supply of local digital switching equipment, bringing it one step nearer its goal of developing a "total communication network". Mr Frank Yung, chairman of Telecoms, said the integrated services digital network (ISDN) will provide subscribers with simultaneous
      192 words
    • Article
      Work on Labour Foundation complex to start
      176 3 WORK on the $80 million Singapore Labour Foundation complex at Thomson Road will start soon. General manager of SLF properties, Mr Lim Lan Yuan, said site clearance is almost complete and piling work will begin in a week's time. The contract, costing $1.7
      176 words
    • Article
      Observations on energy savings in industry
      337 3  -  By CHAN OI CHEE THERE is a reluctance among industries to invest purely on energy saving devices and equipment although they are aware of the importance of energy conservation. Only some factories and companies have been systematic in energy conservation. These factories have achieved
      337 words
    • Article
      Sales exceed expectations of Leeds mission
      295 3 THE 12-member mission from the Leeds Chamber of Commerce and Industry managed to sell about $500,000 worth of products to Singapore businessmen during its one-week stint here. Mr Roger Femfiey. the mission leader, said this is well in excess of anticipated value. The mission
      295 words
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      180 3 Available at: ternu/f de (artier Boutique* G36, Ground Floor, Lucky Plaza, Orchard Road, Singapore 0923 Gl9, Far East Shopping Centre, Orchard Road, Singapore 0923 \<?/ mu/t de r Pons Also available in Singapore at: Cortina Watch Centre G4-9, Lucky Plaza, GB, Colombo Court, North Bridge Rd. G23, Orchard Towers. Je'Taime
      180 words
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  • INTERNATIONAL STOCKS
    • EUROPEAN MARKETS
      • Article
        Paris
        216 4 MAY OS Pra CORBE1LLE ALT-Liquid# m unch B 8 N Ocrrata Dtnont 14M C 8 r (Tbomaoo--0J Caf) 171 JO CW KttOCAlM -OA ltd PtUOiM 136 Cotnpacnlc Financier* Compafnl* OtMltlC Credit Fonctar Dt rrinct Ml uneb Hacbatu 4-1 (UbcaliM). «S Machlnm Bull M.10 •44 Mlchalln (B) an Pmrlbaa P*ehln«y
        216 words
      • Article
        Brussels
        66 4 MAT os rra FORWARD MARKET <■ •t ArtMd 1VM Astur m Bniscan MO •a ♦so ■4 Bni-Uab USD nnntr rv-k lfti 0 -0 1 Dt B*m UO -a iM* 4 Ktoetrotel 30 On UIO Hobok D* Pvtto M* 4-15 s ?C Dutch S o*n Bale IB -IS -10 Soflna
        66 words
      • Article
        Frankfurt
        135 4 MAT Dm Aac-Talafunkan CLM *0A Akao »«t >U Alia Laban 1WM» aneb AJUs V#r* rnjo «U BASF Bay H T Wbant *00 QUO BUO -0J -M -0.1 2S3C OJ BIT aajso -03 Dim 13 Cm—IH CtkMI Varw ■uo 1X100 4M0 uncb uoeh •U A30 1.1 KM f DIM ♦U
        135 words
      • Article
        Zurich
        94 4 AhMUlM R«f Brawn Bovwl Br. Cite (MC7 Br. Cite <M«y P C Cite (Mb Rff Cradn Bute* fr IH ;tnc UH iooe m ♦i ♦m M 10 1 ni -J Ktektrovmtt Br Oaorg* Platter Br m Ml -10 untf Hoffman La Roc be 1/M HoMarteak Br sse lowrfood Br.
        94 words
      • Article
        Amsterdam
        152 4 MAY 06 ru abn 294-50 2 Ahold BJO >13 Afcso AO >13 AMEV Amfu H40 axso > 1.4 >OJ Amrobnk 56 JO >05 ST" IZ 2B.00B BoU sxw 0J BortumlJ noo -1 Burtuntnn C*l*nd Caivt Dtift 4&J0 SHO ***** -0J 0J 1 DmU MU Ennl* 0450 moo -0J Fokkf
        152 words
      • Article
        Milan
        96 4 MAT M LIT* *—-f Mi Bel MM Can Ml* Ord «M0 Cood Acqu* Ho— IS -t ErkUnM 1IM PMI Ort \m *M Omrtll IW <1» Ota Mi unch U! Pit» MM M InfMt MM 1 IMemntlM MMO 1M ItklBM US *i Lafwtlt Ort MM -M IMMaact MM 1M M
        96 words
      • Article
        TORONTO
        103 4 M W p 3^^5 Does TW W* »®eB prpfr^S 14* u* *T oacb How OH Hud lu Mm mz M -M Imp Oil loco .is uach tut Pro* npa in lal Oto lotl Ntckal u fan Add HJ» unch LoMaw MMMJT ta yitiiiirr 1 L4it I Me Modal v
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      • Article
        JOHANNESBURG
        223 4 MAT rn fund INDUSTRIALS A AlnMa At* AX And a J10 unch 10b u^ch AM Bai a uc rtow» SufV A lMt ■0 MO 4 32 71, P—1 M -•I -rl :oo amrm 1«M I BMB imrfi T" ns Ml uncb P l rdMa n*nl Oral—in Hippo HhN HuMU
        223 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      599 4 See Page 9 for New York prices and Page 11 for Aaian stocks. Where to wine, dine and entertain with the American Express Card Siogopofi? DslgKif BUM Diw Our buffet dinner special for those who love the perennial local favourites. Beffct iron iJI ItJt pa Sat ay Chicken Rice Fried
      599 words
    • Advertisement
      Page 4 Advertisements Column 2
      171 4 as going to Bangkok. \v ;vV 4 <- J*' ?r i' This i* Ttw Seafood at its authentic best So fresh. It could heee bttn alive 19 minutes before coming to your table. ft »M An enormous variety of euccufent seafoods expertly prepared by Thai chefs in our kitchen Siamese
      171 words
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  • OVERSEAS
    • Article
      Lock icon Thailand studies plans to cut canal at Kra Isthmus
      286 5 AFP THE Thai government is studying the proposed excavation of a southern canal in the Gulf of Thailand which could cut the navigation distance for international shipping by about 1,480 km. The communications ministry said Japan would be very interested in
      AFP  -  286 words
    • Article
      Lock icon India willing to finance centre for technology
      233 5 Reuter INDIA has announced it will finance a centre for science and technology in India to help promote flow of technological information among non-aligned and other developing countries. India's decision was conveyed to an official level meeting of 51 developing countries that ended
      Reuter  -  233 words
    • Article
      Lock icon British companies expect little change
      287 5 Reuter COMPANIES in the UK expect little change in demand and output during the next four months, although a very slight rise is possible. This was revealed in the latest quarterly survey on industrial trends by the Confederation of British Industry (CBI). But for the
      Reuter  -  287 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      764 5 ARRIVALS Service Local Operator Number Time From MAS MH15A 0020 KUL PAA PA005 0145 JFK/SFO/HKG Cargolux CV796 0315 LUX/DXB CAL CI331 0350 TPE SIA SQ101 0W5 KUL MAS MH671 0920 KUL MAS MH680 0955 KCH RBA BI421 1000 BWN MAS MH651 1030 KUL SIA SQ201 1030 HLP
      764 words
    • Article
      Lock icon Bundesbank reduces a key lending rate
      508 5 Reuter WEST Germany's central bank cut one of its key lending rates on Thursday to speed the country's economic recovery and to reduce unemployment. Karl Otto Poehl, president of the Bundesbank, said that the central bank was abolishing its special Lombard rate, introduced in
      Reuter  -  508 words
    • Article
      Lock icon Largest diamond taken off auction
      154 5 Reuter THE largest diamond to be offered at auction this century was withdrawn by the owner on Thursday night when the highest bid was 6.2 million Swiss francs. "I cannot sell it at this price," Graham Llewellyn, chief auctioner at the Sotheby Parke Bernet Auction,
      Reuter  -  154 words
    • Article
      Lock icon Reagan endorses Senate plan to reduce deficits
      315 5 Reuter PRESIDENT Reagan, unable to get Congress to support his own 1983 budget, has heartily endorsed proposals by a Senate committee for a sharp increase in taxes and cuts in social programmes in order to reduce huge government deficits over the next three
      Reuter  -  315 words
    • Article
      Lock icon Rush for jobs in Nissan's US plant
      313 5 UPI SOME 4MM pewpie have applied tor IJU6 )tks Mag crested by a Nlsaaa track assembly ptaat safer eea■Uatttsa la Baqrraa, aad that amber Is exported to doable la emalag meat*». Nlssaa officials said the ■amber at appUeaats Is expected Is Janp ts
      UPI  -  313 words
    • WORLD IN BRIEF
      • Article
        Lock icon HONGKONG CONTRACTS
        526 5 Agencies THE MASS Transit Railway Corp has awarded contracts worth about HK$2 billion (or work on its new line on Hongkong Island. A company spokesman said seven construction contracts worth 11.8 billion and (our electrical and mechanical contracts were awarded. Construction contracts went to Gammon (Hongkong), Kumagai-Gumi, Nishlmatsu
        Agencies  -  526 words
    • Article
      SHIPS IN PORT
      476 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Aconcagua (1100 hauls after Feng Tao sails) 12 Barber Terrier (shifts after Sinkai sails T/L) 35/36 Cherry Bagus (after Seng Hong) 27 Daigen Maru (after Oceania Star) 19 Equator HI (after Equator (0 22 Foo Chow (0700) 29/30 Georg Handke (after Sondershausen)
      476 words
    • Article
      Lock icon Business Council expects economy to improve
      331 5 Reuter TWENTY major corporations In the US yesterday predicted a moderate improvement in the country's recession-hit economy this summer with falling inflation and interest rates. The Business Council, representing the corporations, said in a report it believes interest rates would continue to fall although
      Reuter  -  331 words
    • Article
      Lock icon America urged to heed exchange rate factors
      421 5 Reuter THE US should pay more attention to exchange rate considerations in framing its domestic policies and avoid an unbalanced mix of monetary and fiscal policies. The Group of 30,- a non official body of leading bankers, central bankers, economists and businessmen yesterday
      Reuter  -  421 words
    • Article
      Lock icon More US corporate failures
      289 5 UPI US companies went out of business during the first three months of 1982 at a rate unseen since the Great Depression and overall corporate profits plunged 11 per cent. Business Week in its May 17 issue, released on Thursday, said: "Corporate profits in the first
      UPI  -  289 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      183 5 W»J GOLD COIN LIMITED k. i/ REBULTB FOR 1961 The audited results for the year ended 31st December, 198) are (figures in S$000)> Turnover GROUP 1961 1960 COMPANY 1961 1960 257,579 260,873 65,902 81,834 Trading profit Dividends, gross Share of associated companies' results Profit before tax Taxation 10,448 10,323 3,678
      183 words
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  • Article
    Sport is not war, politics is not sport
    677 6 SO MUCH FOR progress. Back in the days when the ancient Olympic Games were staged at Marathon in Greece, states had to call a halt to war for the duration of the contest. If the news from Britain is to be believed,
    677 words
  • Article, Illustration
    Lock icon London's taxi drivers fall on hard times
    807 6  -  Rising costs, new taxes and stiff competition from pirate operators have hit the London cabby hard. Some drivers blame their plight on the famous black cab and want it replaced. Others say it's the best taxi ever made By PETER GUMBEL Reuter LONDON'S
    Reuter  -  807 words
  • Article
    Lock icon Bringing out the kid inside every executive
    815 6  -  By WAYNE KING NYT RICHARD Thalheimer does not own one of the bullet-proof vests that he sells through his catalogue for US$249, nor, when he goes for his daily UMcm jog, does he wear one of the computerised runner's wristwatches ("brisk sellers") that
    NYT  -  815 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      664 6 I I -IH-OKE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Discount arranged for a beater (6) 7 A land to some extent bulging with song (8) 8 Are they planted while the crows are out of the way? (6) 10 Might he turn a hair, possibly? (5) 13 Smell of burning (4)
      664 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      686 6 m Return of Frank Cannon BBC HAS to Store aa eatertolalag nkeUMj( jM> Genmu Urtmg FC Catogae Mi) will r (Cfc 5, paraflicn to s pi 1 z I m K Arto. Laretto Bwtt el HASH to tavt ■■■bmw m special |ieit stoaeei ■£< eat. meaa. tke elrtia- whe ■—mm
      686 words
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  • Article
    BUSINESS DONE ON THE SES AND THE KLSE
    1758 7 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. 9ECTION ONE INDUSTRIAL COMMERCIAL AU™d <*h^(l 82BMl)
    1,758 words
  • Article
    Unit trusts
    201 7 ONGAFOBK UNIT nun DIAMOND MOT 8TOKE (M»aa|ig>* prtaaa tar May It) (M«ni|in prim tar May It) The Commerce 3 06 3 22 Diamond The Savlnfi Fund L70 1.71 Spore Fd (US) 0.M 0(0 S pore Prof Fund IS 1 SI 1.25 S pore Sec. Fund 2 03 2.13
    201 words
  • Article
    SHARE INFORMATION SERVICE
    2909 7 IMS High Low Compuy Last Sale +orGr*« Div Div Crr Gr*a Net Ynd P/E Vol Day COOO) High Low SECTION ONE INDUSTRIAL COMMERCIAL 300 233 283 320 141 291 480 292 247 172 248 320 98 199 340 240 Aetna Alcorn Allied Choc BAT Bata Ben Berjaya
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  • Article
    In Kuala Lumpur
    1890 7 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. DTOUnVUL* AIM (I MS) (1) I.* (1) 1.27 (4) LSad A CMc
    1,890 words
  • COMPANY BRIEFS
    • Article
      MALAYAN Cement Bhd
      22 7 has made no decision on whether to go ahead with an office development although the issue is under consideration.
      22 words
    • Article
      SINGAPORE Factory Development Ltd,
      49 7 wholly- owned by the Development Bank of Singapore announced that Mr Oliver Tan Kok Kheng has replaced Mr Soh Kim Soon as director of the company. The other two directors of Singapore Factory are Mr Chua Kim Yeow. chairman, and Mr Patrick Yeoh Khwai Hoh
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  • Article
    Share index rises by 11.79 points
    764 7 BULLS retained with i veageaaee te the stock market yesterday, pesklng prices sahataatially klgker aereas a kraad treat. Trading was fairly keetie. The Straits Times ladastrlal ladex, a ifl palat winaer at 12JI pm, leapt 11.71 palate to 771J8 at tke cleee. Tkls to
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  • Article
    KL prices rise on broad front
    586 7 SHARE prices on the Kuala Lumpur stock market were marked higher across the board yesterday in very active trading with total business done up by almost two million units. Apart from the $2.00-jump to $10.10 recorded by electrical stock EAI, double-digit gains were the
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      Page 8 Advertisements Column 1
      2147 8 OVERSEAS UNION BANK LIMITED (Incorporated in the Republic of Singapore) Chairman's Statement On behalf of the Board of Directors, I have pleasure in presenting the Annual Report and Accounts of the Bank and its Group of Companies for the year 1981. The Singapore economy has once again demonstrated its resilience.
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      Page 9 Advertisements Column 1
      1674 9 m OVERSEAS UNION BANK LIMITED (Incorporated in the Republic of Singapore) Financial Highlights Consolidated Statement of the Source and Application of Funds for the year ended 31st December 1981 Source of Funds Net profit after tax, transfer to inner reserves, and after deducting minority interests Add/( Deduct): Exchange adjustments Depreciation
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      Page 10 Advertisements Column 1
      1564 10 lurj I It* ILm U m irsl OVERSEAS UNION TRUST LIMITED (Incorporated in the Republic of Singapore) Share Capital Authorised Ordinary shares of Ssl each Issued and Fully Paid Ordinary shares of Ssl each Capital Reserves Statutory Share premium Other Revenue Reserve Retained profits Total Capital and Reserves Current Liabilities
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  • RAW MATERIALS
    • Article
      Produce exchange
      180 11 CHINESE PrWicc Exckaage, Singapore, mm etaiag price» per 1M kg yesterday. CMMit #U: Bulk fob $100.00 sellers, old drum (in second hand drum) fob $112.00 sellers, new drum fob $116.00 sellers. Capra. Mixed (loose) $50.00 buyers. Pepper: Muntok white pep- per fob Asta NLW $370.00 sellr ers, Sarawak
      180 words
    • Article
      TEXTILES
      143 11 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go- iiown) CattM yarn: China Blue Phoenix 20s 2,430 32s 2,960, 40s 3,140 (per bale of 400 lbs). <- Pakistan raw cattM: LSS 5.89, 4F 5.88; 289F 5.90; NT roller ginned 5.90 (per lb).
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    • Article
      RICE
      327 11 SINGAPORE: Yesterday's closing prices in S$ per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.10, 100 per cent second class 0.92, 100 per cent third class 0.88, 25 per cent new crop no stock, B-10 per cent 0.81. THAI BROKEN: A-super r 0.65, Special
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    • Article
      Straits Tin
      70 11 THE STRAITS tin price in Penang yesterday was steady at M529.4t a kilo, to remain within the ITA lower sector of $29.15 and $32.M. The week-long steadiness saw continning bolter stock manager support at this level, coupled with routine overseas and local demands. Turnover rose sharply to 257
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    • Article
      CLOSING PRICES
      32 11 Rubber May 7 Singapore: May: 187.00 cents (down 1.00 cent) Malaysia: June: 206.00 cents (down 0.50 cent) Tin: M 529.40 per kilo (unchanged) Official offering: 257 tonnes (up 60 tonnes)
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    • Article
      Lock icon New textile pact
      66 11 Reuter HONGKONG and Finland have negotiated a new two year textile agreement, effective Aug 1 when the existing agreement expires, the Hongkong government's Trade, Industry and Customs Department announced. Although giving no details, the department said the new pact covers the same products as the current agreement
      Reuter  -  66 words
    • Article
      LONDON MARKETS
      867 11 COFFEE: Robusta futures yesterday were easier at midday, between £26 and «£lO a tonne below Thurs- day's close in traded posiItions. Dealers said prices traded Within a narrow range for I most of the morning after «an initial fall of about £20 in "line with New York's weakness
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    • Article
      PALM OIL
      134 11 THE Kuala Lumpur crude palm oil market yesterday was mixed in late quiet trading with most operators sidelined ahead of the long weekend, dealers said. In May, south was unchanged at M 5957.50 a tonne, central dropped $7.50 to $952.50 while north pose $1 to $962.00. In June,
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    • Article
      RUBBER
      216 11 RUBBER prices in Singapore yesterday closed slightly lower with May One RSS buyers quoted at 187.00 cents per kilo, down one cent from Thursday's close. Morning prices were marked down slightly initially before gaining some ground on covering interest. Afternoon prices were about unchanged but prices were shaded slightly
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    • Article
      RAS PRICES
      354 11 RAS price* In cents per kilo yesterday: Noon (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 183.50 184.50N Int. 1 R.S.S. May 187.50 188 00 Int. 1 R.S.S. June 184.00 185 00 Int 2 R.S.S. 173 00 175 00N UK/Coot 172 00 174 OON Int. 3 R.S.S.
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    • Article
      SSR and SMR
      100 11 NOON SSR and SMR p ncm vmunimy RA8 SSR 20 SSR SO (1-IOB (1 ton M»y (Ctrmt Mlk) ■•Tin Bolter* pollot) 160.00 181.00N polWtl 158.00 159 00N Jul (Forward Hit) Bolter* ***** 181 SON 158-50 15# SON MRELB J«M Mr SMR CV SMR L SMR 5 SMR
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    • Article
      SOYBEAN
      165 11 SOYBEAN futures in Chicago on Thursday closed four to 6Vt US cents a bushel lower, with the July contract settling at the day's low. Traders said selling by the Large Professional House, estimated at over three million bushels of November and 1.5 million July, pressured prices. Local long liquidation
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    • Article
      WHEAT
      196 11 WHEAT futures in Chicago on Thursday extended losses at the finish to close 4'4 to seven US cents a bushel lower. Traders said heavy selling by the Professional House was met by scale~down exporter buying, believed by traders to be covering possible further wheat sales to China. Technical analysts
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    • Article
      Wall Street closes with healthy gains
      1226 11 NEW YORK STOCKS STOCK prices in New York on Thursday closed with healthy gains as investors reacted with optimism to the news that the Senate budget committee approved a Federal budget package. The Dow Jones rose as more than nine points in the first
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    • Article
      Lock icon Cocoa producers take steps to bolster prices
      666 11 Reuter CRUMBLING cocoa values on international markets have spurred producing and consuming nations to take further steps to bolster prices, but market analysts believe they will be successful only in the short term. The International Cocoa Agreement, to which producers and consumers subscribe
      Reuter  -  666 words
    • Article
      Lower rubber prices in quiet conditions
      292 11 THE DRAMATIC naval casualties in the Falkland Islands conflict were discounted by local markets, where levels closed some 2 Vi cents lower on the week in quiet conditions, Hsttday, Caller, Balk aad Campaay said in its review for the week ended May 6. Initially.
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    • ASIAN STOCKS
      • Article
        Sydney
        364 11 AN INFLUX of buyers gave the Sydney market its strongest rise of the year yesterday, prompted by White Hook harking for Senate proposals on the 1983 US budget deficit, brokers sakl. The All-Ordinaries index was 14 points up at 512.7, its highest level since Feb 15 when it stood
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      • Article
        Market ends firmer
        351 11 HONGKONG THE Hongkong stock market yesterday closed mostly higher with trading mixed near the close and with speculation on a local interest rate cut continuing a background support, brokers said. Speculative demand on the possibility of a bid was renewed for China Light and its shares rose
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      • Article
        Tokyo shares finish mixed
        431 11 SHARE prices in Tokyo yesterday closed narrowly mixed after an active day which saw initial gains in some blue chips pared on profit-taking as caution set in in response to the rapid pace of price rises, dealers said. The market average finished a marginal one point
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      • Article
        Manila
        151 11 THE Manila stock market was easier yesterday with commercials and industrials, minings and oils closing lower, dealers said. Turnover rose to four million pesos from two million on Thursday Gainers were Philex "B" and Philex Mining "A". Losers were Baguio Gold, Benguet Con "B", Lepanto, Marinduque "B", Oriental "B"
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  • Article
    Sin Chew profits up 17pc
    242 12 SIN CHEW Jit Poh's yearend results, like its rival Nanyang Siang Pau's, have been "adversely affected" by losses in an associate company. Nevertheless, Sin Chew still managed to turn in a 17 per cent increase in group pre-tax profits to $6.8 million for the 12
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  • LATEST
    • Article
      GUINNESS Malayan Bhd
      44 12 IMS reported gnu pre-tax pram af MftCJ milfiaa (914-Si hUUea) m graip art aalea af $114-34 nllllaa ($lBB.BB ial»Um) far the rix awtki eaded Pel 28, IWL Directors have declared aa laterlm MM af rix eeats graaa payable «a Jue tl.
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    • Article
      NEGRI Sembilan Oil Palms Bhd
      125 12 haa repartod gnap pre- tax prwt m M¥i.M raiiuw (I&JJ mllBaa) aa map tanaver af milhaa (SIBJ4 mllltos) far the year eaded Dec SI, ini. Directors have declared a flaal dWdwd a( S Jer eeat graaa payable aa ue 1», laaktag a total at lk
      125 words
  • Article
    LONDON STOCKS
    740 12 LONDON, Fri. The market opened narrowly mixed in quiet trading today, dealers said. Operators were nervous with hopes of an early diplomatic solution to the Falklands dispute apparently receding. However, the strong showing of the ruling Conservative party in UK local elections supported yesterday's slightly firmer levels, dealers
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  • Article
    Lock icon Dow Jones higher
    103 12 AP NEW YORK, Fri. The stock market gained more ground this morning on the heels of yesterday's rally. The Dow Jones average of 30 industrials rose 2.19 points to 865.39 in the first half hour. Gainers held an 8-to-5 lead over losers. Analysts said the market was
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  • Chief Price Changes
    • Article
      SINGAPORE
      157 12 Rises Indices G E Life M M C P M R I Island ft Pen FAN Sel Properties H Leong Credit Keppel Ship General Corp H Leong Fin Metro Hldgs Hong Leong Ind G I Hldgs 2300 350 280 770 875 565 560 454 438 780 765 755 304
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      KUALA LUMPUR
      177 12 SHARE prices closed substantially higher in active trading sn the Stock Exchange ®f Singapore yesterday, with sentiment boosted by firmer overseas markets. The Straits Times Industrial Index jumped 11.1» points to 171.18 at the dose, while the fluid—mm Times Indicator of the day's It most active stocks climbed
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    • Article
      Selected indices
      50 12 FINANCIAL TIMES INDUSTRIALS Thursday 578.8 Wednesday 575.4 Week Ago 582.0 DOW JONES AVERAGE INDUSTRIALS Thursday 863-20 Wednesday 854.45 Week Ago 844.94 Friday 1368.97 Thursday 1351.09 Week Ago. 1323.36 AUSTRALIAN INDUSTRIALS Friday 881.8 Thursday 851.7 Week Ago 658.2 ALL ORDINARIES Friday 512.7 H.K.HANG SENG Thursday 498.7 Week Ago 5023
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  • Article
    Dramatic rise in MUI's reserves
    465 12  -  ■HUH Companies Editor: Mano Sabnani By CHOO AI LENG FAST-GROWING Malayan United Industries has disclosed in its latest annual report that the market value of its investments in listed companies, including Central Sugars and Pan Malaysia Cement Works, swelled to M 5567.9 million at the
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  • Article
    General Corp transfer
    458 12 GENERAL Corporation has formally transferred its ceramic tiles business to a wholly-owned unit, thus completing the final procedure required to transform itself into an investment-holding company. In a statement to the Kuala Lumpur Stock Exchange, General Corp announced that it has received approval from the Malaysian Ministry
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  • Article
    Bedford to take over Hampstead Corp
    380 12 THE new owners of Bedford Plantations Bbd (formerly owned by Straits Trading) have started to Inject assets into the company. Bedford announced yesterday that it has reached agreement to acquire the entire capital of Hampstead Corporation Sdn Bhd for MJB.S million. Hampstead, a propertybased
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  • Article
    Privy Council verdict
    415 12 THE PRIVY Council has delivered its verdict on the tangled dispute between Malaysia Borneo Finance, the 70 per cent owned subsidiary of MBF Holdings and a syndicate (determined by the Hongkong High Court as Mr Choo Kim San's nominees) over the recovery of loans given to Mr
    415 words
  • Article
    MBF gets approval for more branches
    156 12 MBF Holdings Bhd's 70 per cent owned Malaysia Borneo Finance Corporation (M) Bhd (MBF), which is to be hived off soon as a publicly quoted company, has obtained approval to open three more branches in Malaysia. Yesterday, MBF Holdings announced that Bank Negara has
    156 words
  • Article
    New UIC subsidiary
    82 12 UNITED Industrial Corporation Ltd has set up another wholly owned subsidiary, UIC Petrochemical Pte Ltd. Incorporated on April 23, UIC Petrochemical has an authorised capital of $10 million and a paid-up capital of $2. UIC earlier this week bought a 10 per cent stake in United Engineers,
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  • Article
    Lock icon Enter SPK-Sentosa
    871 12 mm by HOCK LOCK SIEW BOTH Taiping Textiles and Sentosa Plywood were among the high-fliers in last year's stock market boom, but unlike some of their more resilient counterparts, they have never really recovered from the severe beating their share prices suffered when the market turned bearish. Not
    by HOCK LOCK SIEW  -  871 words
  • Article
    COMPANY BRIEFS
    300 12 8ENT06A PtywMd Bkd will be traded and quoted under the new name of 8PK Harts— Csrpsratlaa from Monday. Certificates bearing the former name will still be valid. METRO HsMlags Ltd will be borrowing $14 million from a bank, besides forking out $14 million cash itself, for its $28
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      282 12 SIN CHEW iIT POH (SINGAPORE) LMTED (Incorporated in the Republic of Singapore) ANNOUNCEMENT The Directors ore pleased to announce the audited results of the Group and of the Company for the financial year ended 31 December 1981 as foBows:1961 1980 Group Company Group Company $'000 $'000 $'000 $'000 Turnover 44.282
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  • Page 12 Miscellaneous
    • Miscellaneous
      Page 12 Miscellaneous Column 1
      68 12 OUTLOOK for Singapore today: Showers in several areas in the late morning and early afternoon. Fair the rest of the day. Bepwt for 24 hoars prior to 7JI pm on May 7 »t the airport: Maximum temperature 32.1 Associated humidity 67 Minimum temperature 24.6 Associated humidity 88 Hours of sunshine
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