The Business Times, 25 September 1982

Total Pages: 12
1 12 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 93/1/82 SATURDAY, SEPTEMBER 25,1582 60 CENTS
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  • 582 1  -  By RICHARD SEAH THE record-lending business in Singapore is facing a period of major changes. The industry's most significant event is the closing down of Atlas Sound Record Library, Singapore's largest and most established. This will result in Noah's Record Library emerging as
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  • 553 1  -  By BERNADETTE CHOOI JAPAN'S largest bank, Dai-Ichi Kangyo Bank (DKB), announced yesterday that its Singapore branch lost 9.7 billion yen (about US$37 million) because of unauthorised foreign exchange dealings. The former chief dealer in Singapore, Mr Haruo Kanda, has been dismissed for incurring the
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  • 370 1  -  By LEE YOKE MENG THE slowing down of economic activities worldwide is beginning to affect the Export Credit Insurance Corporation of Singapore (ECICS) and it could move into the red as early as this year or next. Since its establishment in 1976, ECICS has been
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  • 82 1 THE Development Bank of Singapore will reduce its prime lending rate by a quarter point to 9.75 per cent from Monday. Its fixed deposit rates will be cut by a quarter point to 6.75 per cent for one-month deposits, 7 per cent for three-month deposits,
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  • 317 1 SEVEN or eight contractors, mainly foreign construction companies, have been invited to bid for the 1160 million Gateway project in the Beach Road area. The list of contractors shortlisted for the superstructure contract by developer Singapore Land consists of UK, Hongkong, Japanese, French,
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  • BRIEFLY...
    • 89 1 Reuter BRITAIN and China have announced in a joint statement that they are to begin talks soon on the future of Hongkong, the British colony of five million people over which Beijing claims sovereignty. Later, British Prime Minister Margaret Thatcher told a press conference in Beijing
      Reuter  -  89 words
    • 50 1 AFP INDONESIA plans to export bricks manufactured in Riau Province to Singapore soon, according to an announcement from the Indonesian Ministry of Industries. Secretary General of the Ministry of Industries Agus Sujono said the exports are in the framework of the ministry's small industry development programme. AFP
      AFP  -  50 words
    • 78 1 MALAYSIAN Airline System and Singapore Airlines are expected to announce jointly details of the air shuttle service between Kuala Lumpur and Singapore by the middle of next month. Disclosing this yesterday, MAS acting general manager Haji Abdul Aziz Abdul Rahman added: "We have more or less finalised
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    • 68 1 Reuter PARTICIPATION In France's US$4 billion standby credit will be scaled down by around 90 per cent because of its heavy oversubscription, a spokesman for co-ordinating lead manager Societe Generate said. The French economy ministry said subscriptions totalled $5.6 billion but the spokesman said that because of a
      Reuter  -  68 words
    • 62 1 Reuter MAYOR Edward Koch's tight grip on politics in New York broke on Thursday night when he was defeated for the Democratic Party's gubernatorial nomination by New York State lieutenant-governor Mario Cuomo. The New York City mayor's loss was the biggest upset in the current campaigning around the
      Reuter  -  62 words
    • 58 1 Reuter THE Israeli Cabinet yesterday appointed the president of the country's Supreme Court to set up a panel to head an inquiry into the Beirut massacre, Deputy Prime Minister David Levy said. However, Israeli Chief Justice Yitzhak Kahan later said he could not do so while related
      Reuter  -  58 words
    • 81 1 Reuter THE Japanese government, struggling to reduce a huge budget deficit, won Cabinet approval for a package of measures designed to cut public spending and streamline the bureaucracy. The Cabinet endorsed a decision tak?n earlier this week to freeze a 4.5 per cent pay rise for 500,000 government
      Reuter  -  81 words
  • 252 1 TAN CHONG has rtippil KBltltJ Vllf WlaaAjg ALI» I^JJ »nucw* fer display parpsate Is Cheaa EQaag Meters, reealtlag "hare" at Chaaa Dug*! hn «rtleh h Stogapere. The Nlssaa Mrihtter has ate* stopped the esppty ef vehicle* far sale eakee Its
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  • 425 1  -  By CHAN OI CHEE KEENER competition and higher overheads and interest costs have eaten into Acma Electrical Industries' earnings. For the first time in many years, the group has slipped into the red, with a pre-tax loss of $477,000 for
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  • Page 1 Advertisements
    • 232 1 <>]|-?'\,%-/^[~+:"^_^%,""}|(;]> rasa' SWIFT, j international banking network, will be upgrading its computer systems to cater for more banks and a new range of transactions Page i THE Singapore National Shippers' Council should keep up with the times and expand its scope to include air freight matters Page j A BILL
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    • 88 1 Join the big swing to Pinnacle S» H? V f Mt, s\ i < < V »r For golfers^^^^^ vthomr iA strive for JM excellence the course, I z. the to Pinnacle^^^fflHMfc^^^^H offers unsurpassed accuracy, distance and durability. g, Aqd every jjj^ Pinnacle ball carries a no-cut yjjw&B guarantee. Come,
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    • 39 1 The Pnmn Straits Companies mActivities, ±552® Key Personnel. DIRECTORY Agencies Of Singapore (Buku Merah) friendship xt: buy BKOt Gutty Saric ScofchWhidw Distilled, blended and bottled in Scotland. Sole Agent: Hock Tong Bee Pte Ltd 347,Bukit Timah Road, S'pore 1025
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  • BANKING AND FINANCE
    • 395 2  -  By BERNADETTE CHOOI THE international banking network, Swift, will be upgrading its computer systems to cater for more banks and a new range of transactions. It will also allow for a number of countries coming into the system such as Australia and New Zealand in
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    • 167 2 UK gold board to recommend contract Reuter THE board of the London gold futures market will recommend the adoption of a US dollar-denominated contract at the meeting of all members scheduled for Oct 1, die board said. In a letter to all members, the board said members will be asked
      Reuter  -  167 words
    • 362 2 Reuter PHILIPPINE central bank governor Jaime Laya said the International Monetary Fund's (IMF) heavy emphasis on prescriptions to curb borrowing countries' domestic demand is regrettable. Addressing members of the Financial Executives Institute in Manila, Laya said such prescriptions are uniform and rigid and are
      Reuter  -  362 words
    • 113 2 Reuter DOME Petroleum Ltd said the refinancing proposal made by its Canadian bankers and the Canadian federal government involves a capital injection and some debt rescheduling. It said one-half of the capital injection will come from the Canadian hanks and one-half from the federal government. The
      Reuter  -  113 words
    • 238 2 AFP THE Ihriwhai has aaaeaaeed piaas la tower the law—t rf reserves that depsslt wltheat Interest, effective sa Oct 1. A as—l—a Issand la Fraakfart sa Tharsday said a It per cent <—> la repaired reserves aa laterest-free depsstt with the West Germaa eeatral haah
      AFP  -  238 words
    • 627 2 Reuter THE financial crisis afflicting much of Latin America has now reached Ecuador, which faces a foreign debt totalling at least US$6.3 billion and, like Mexico, is asking to delay repayments on some loans. Net international reserves have fallen from $560 million at the end of
      Reuter  -  627 words
    • 132 2 Reuter STANDARD Chartered Bank PLC is in the process of placing £100 million subordinated unsecured loan stock dated 2002/2007. J Henry Schroder Wagg and Co, in conJunction with Standard Chartered Merchant Bank, has agreed to subscribe or procure subscribers far the stock, provided it obtained
      Reuter  -  132 words
    • 361 2 Reuter THE total subscription to France's planned US$4 billion standby credit is $5.7 billion, a spokesman for coordinating lead manager Societe Generale said in Paris. He declined to comment on whether the government would increase the amount of the credit but banking sources said
      Reuter  -  361 words
    • 312 2 Reuter BANK of Japan Governor Haruo Maekawa ruled out a cut in the bank's official discount rate at present. He said on Wednesday the bank cannot lower the rate from the prcacnt 5 5 per cent while the yen is so weak
      Reuter  -  312 words
    • 347 2 Reuter VENEZUELA needs to pay l'/k per cent over London Interbank offered rates (Libor) for its proposed USS6OO million to US$BOO million Eurocredit to succeed with a five-year maturity, London banking sources said. Public Finance Director Ignacio Sandoval said in Caracas
      Reuter  -  347 words
    • 119 2 Reuter A GROUP of 10 leading International banks have completed a US$lOO million club loan for state oil company Petroleo Brasileiro SA, Petrobras, a Brazilian central bank spokesman said. Foreign hanking sources said the terms were eight years, 2Vt per cent above London interbank offered
      Reuter  -  119 words
  • MONEY AND EXCHANGES
    • 22 2 THE average rale at which major Singapore banks are currently prepared to lend to their best customers is 10.23 per cent.
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    • 184 2 ASIAN ASIAN currency deposit interbank rates as at close on Sep 24: U8 IMkrrtSMtl Offer BM 7 days 111/11 1019/16 1 month 11* 11* 2 months 119/16 117/16 3 months 11* 11* 6 months 12* 12* 9 months 12* 12* 12 months 12* 12* Daa. 8w.fr». i UUJL 1 month
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    • 47 2 RANGE at prim offered by dtscant houses i on Sep 34: Overnight 3* Call depos its 3* 3*. Cloatef 3-month Baytec MUa< Treasury bUU 3* 3 3-month BankbtUs 7 15/10 7 13/18 3 months CD 7* 7H «months CD 7 15/18 713/16 Source: National Discount Co
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    • 53 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued on Sep 27 and from Sep 29 to Oct 1: Offered: $150,000,000 Applied tar: 1245,530.000. Allotted: $150,000,000. Accepted Mds: $99.24 approximately 57 per cent; higher bids in full. Average rate «f dtoeeaat •a alletmeat: 3.005 per
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    • 73 2 Opening quote yesterday US 1 70« M Can 2 1000 JO Oo« 1 2325 28 DMk 4.2900 SO DFI 4 7045 96 SFr 3.6790 6M0 BFr con S3 08 21 FPr 12 1275 1400 Ut 2416 50 2419 SO Yen 454 80 456 20 DKr- 13 0300 0475 N
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    • 457 2 THE US dollar firmed slightly against most of the major currencies on the local foreign exchange market yesterday. Trading was quiet on most counters, with little fluctuations, mainly because it was a Friday. The US dollar opened against local currency at 2.1790 and slipped to a low of
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    • 215 2 THE DOLLAR for overnight delivery in Tokyo yesterday closed firmer at 265.70 yen, up from a 265.60 opening, despite intervention by the Bank of Japan, dealers said. The dollar briefly touched a five-year high of 265.75 yen before the close, which compared with a 265.30/45 close overnight in New
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    • 305 2 GOLD FUTURES In Singapore yesterday closed slightly firmer compared with overnight. Hew York levels, after fluctuating marginally throughout the' session in light trading, dealers said. Total sales for the day was recorded at 124 lots while kerb volume at 171 lots. Prompt closed slightly higher at U*****.20/440.70 an ounce
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    • 38 2 New York 8.J7B 8KB 9 04S 9 Q2S Zurich 8 92B 9.80B 9Q2S 910S M An Singapore 8KB 8.S5B JOBS 9 06S Closing prk -e» in US dollars a troy ounc t. Source: Credit Suisse, S'pore
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    • 73 2 THE US dollar in Hongkong yesterday rose against other major currencies apart from sterling in moderately active late trading. Banknote rates ffterdiy: US 4.11 6.13 UK 10 X 10 55 Brunei —178 2.» W Germany -141/2 Malaysia 2.570 1300 Philippines 0 4» X 700 Singapore 2.81 183 Burma 1.30
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  • Page 2 Advertisements
    • 117 2 i-EN?y I The office furniture people LJ I JL I 1. Ergonometric in design 2. 10 easy pieces: no nails, no screws 3. Stack it easy tor storage 4 Combines and arranges in rows, too STRAX—the cannectible, stackable, dura hie, knock-down office chair. Henry Designcentre presents the new Strax office
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  • TRADE AND INDUSTRY
    • 371 3 THE owner of the East Coast Recreation Centre is building a {500,000 carpark adjacent to the centre to ease the parking problem. "We have finalised the dosign of the carpark," Mr George Wuu said. "Now we are waiting for the approval from the
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    • 266 3 GADELIUS Pte Ltd of Singapore has won the top 1981 sales award from Washez Machinery Corporation of the US for the first time. It beat about 45 to 50 other distributors outside the US for the award. The award, made recently at the International Laundry exhibition
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    • 940 3 BEMINARB AND COURSES Sep 27-Oct 1: Advance Management Training Part 2, Merlin Hotel, NPB Sep 27-Oct 2: Motivation and Human Relations, YMCA, NPB Sep 27-Oct 4: Active Performance Appraisal, Institute of Education/Buidt Timah, NPB Sep 27-Oct 4: Manufacturing Plant Maintenance Management, Institute of Education/Bukit Timah, NPB Sep 27-Oct
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    • 460 3  -  By JUNE LIM THE SINGAPORE National Shippers' Council should keep up with the times and expand its scope to include air freight matters. For the past 10 years, the council has catered to the needs of commodity shippers who moved their goods
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    • 197 3 CENTURY Park Sheraton Singapore has announced of Bass the sales department of the 464-room hotel. Mr Schonbaumafeid will assume the position of director of sales and marketing on Oct 1 after his tenure with Essen Sheraton Hotel in West Germany. His first association with the Sheraton chain
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    • 309 3 AN AGREEMENT for the avoidance of double taxation has been signed by Finland and Singapore. The agreement, aimed at promoting greater flow of trade, investment and technical know-how between the two countries, was signed on Thursday and brought into force yesterday. It
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    • 448 3 THE HOUSING and Development Board cannot allow inefficient contractors to slow down its building programme due to the lack of mechanisation and poor site management. "To assist the contractors, the board has stationed some architects and engineers at a few conventional (building methods) sites,"
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    • 290 3  -  By WONG SOUK YEE DBS LAND, the property arm of Development Rank of Singapore, has awarded a |17 million contract to Mega Construction for the building of 17 residential bungalows at Ladyhill Road. MS Land has set up a subsidiary, Ladyhill Pte Ltd,
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  • Page 3 Advertisements
    • 116 3 &?< A The advanced ROLM Computerised Hotel Telephone System -7 a vT > vT 4ro hr* o 4 V ROLM CBX Features:— Special Software Application for the Hotel Industry. Effective Systems Management Telephone Billing Details. Modular Expansion Capability up to 4000 rooms. Direct Interface with Hotel Computer System. High Performance
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  • OVERSEAS
    • 613 4 AP UPI A BILL to limit foreign car imports might give a temporary boost to the US economy, but the long-run effect would be negative. Congressional Budget Office (CBO) director Alice Rivlin told the House of Representatives' Ways and Means Trade Subcommittee on Thursday
      AP; UPI  -  613 words
    • 232 4 UPI Reuter CHRYSLER Corporation and Mitsubishi Motors Corporation of Japan are studying a proposal for Joint production of small cars in a former Chrysler truck assembly plant in Missouri, the Detroit Free Press reported on Thursday. Chrysler vice-chairman Gerald Qreenwald said in an interview during
      UPI; Reuter  -  232 words
    • 474 4 UPI Reuter UNITED States Treasury Secretary Donald Regan has endorsed the Federal Reserve's loosening of the money supply that helped interest rates drop, but said the process has gone far enough. Regan said this on Thursday at the White House after a meeting of
      UPI; Reuter  -  474 words
    • 234 4 Reuter A HOUSTON oil equipment company has agreed to pay a fine of U*****,000 after pleading guilty to bribing officials of Mexico's national oil company, the US Justice Department announced. The department said on Thursday that in return for the fine it would not
      Reuter  -  234 words
    • 295 4 Reuter FIVE top officials of the US central bank, the Federal Reserve, said a US economic recovery was in the offing. But the bank should not give up fighting inflation by relaxing its tight monetary policy, the presidents of five
      Reuter  -  295 words
    • 380 4 Reuter THE FOCUS of the British trade unions' battle with the Conservative government has switched from the health workers to the miners, who rejected an improved pay offer and set the scene for a winter showdown. The miners threw down the gauntlet
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    • 187 4 Reuter A BUSINESSMAN with large F&lklands interests paid £5,000 on Thursday for a ceremonial top hat left behind by Argentina's commander on the islands. The hat was the most prized item at a charity auction which raised £52,350 to help the islanders
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    • 392 4 UPI THE US Federal Communications Commission has opened up a new world of space-age television delivery by approving what may become the first national direct broadcast satellite system in the country. The commission voted 6-1 on Thursday to let Satellite Television
      UPI  -  392 words
    • 193 4 UPI THREE US senators have introduced a bill that would provide US$4OO million a year to help American states upgrade education in mathematics, science, computer», foreign languages and job training. The bill would provide $400 million a year for each of fiscal years 1984,
      UPI  -  193 words
    • 365 4 AT CONVENTIONAL WHARVES Vessel Berth Agent Arrival Departure 1 3 KEPPEL WHARVES Equator in Frot&durban Hannoverland Hel Jamaica Farewell King Bird Kota Jaya Llrlos Pyramids Rajah Brooke Seng Glap Silver Light Hong Chun Kaenary Kota Harapan Kusu Island Llkas Venture Nova Palembang 22 8/9 1/2 38/9 33/4
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    • 725 4 ARRIVALS Service Local Operator Number Tine Froa PAA PA 005 0025 JFK/SFO/HKG FT FT71 0040 JFK/ORD/ANC/ CAL NRT/TPE/KUL CI331 0050 TPE SIA SQ101 0806 KUL MAS MH601 0820 KUL MAS MH682 0945 KCH RBA BI42I 1000 BWN MAS MH671 1020 KUL SU SQ201 1030 HLP CPA CX710
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    • 294 5 AP THE AMERICAN head of the World Bank, the biggest international aid agency, has suggested that the United States spend more to help the poorest countries, and less on its military. AW Clausen, the president of the bank, used
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    • 280 5 Agencies LEBANESE Ambassador Fakhri Saghiyyah, expressing opposition to a UN Commission of Inquiry into the West Beirut massacre, said: "We do not want to dig graves for old bones." "We want to get on with the running of the government," Saghiyyah said on Thursday
      Agencies  -  280 words
    • 656 5 Reuter OIL INDUSTRY destocking, which speeded up significantly in the second quarter of this year, should wind down by the end of the year. Traders and analysts at an oO conference in Rotterdam said that destocking, estimated by some to have reached two
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    • 287 5 UPI FRENCH Budget Minister Laurent Fabius has decreed an economy drive by the country's huge civil service, ranging from a ban on first class flights for civil servants to a sharp reduction of the fleet of office cars. Fabius said on Thursday the measures will save two
      UPI  -  287 words
    • 290 5 Reuter TAX revenues from Britain's North Sea oil fields could be £1 billion higher in the current financial year than forecast in the March budget. The Treasury forecast a £6.1 billion tax take from petroleum revenue tax and supplementary petroleum duty
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    • 489 5 Reuter THE US and world steel industries apparently face continued difficulties in the years ahead because only modest increase is likely in the demand for steel. According to a Commerce Department study, US demand for steel products would rise between about one and 1.5
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    • WORLD IN BRIEF
      • 481 5 Agencies LEADERS of West Germany's Free Democrat Party (FDP), which holds the balance of power in Bonn's current political crisis, has bowed to mounting party criticism of a plan to topple Chancellor Helmut Schmidt and called a special national convention for mid-October. But FDP leader Hans-Die-trich
        Agencies  -  481 words
    • 149 5 AP HONGKONG authorities have given the order that do Japanese cars should be included in the motorcade that will pick up visiting British Prime Minister Margaret Thatcher tomorrow, the English-language daily South China Morning Poet reported on Thursday. The newspaper said the reason behind
      AP  -  149 words
  • Page 4 Advertisements
    • 234 4 World Technology for ASEAN progress through ENEX-ASIA South East Asia 4th International Electrical Electronic Engineering Exhibition. '82 19-23 OCTOBER 1982 SINGAPORE World Trade Centre Singapore may be a small island, but it hosts the biggest electrical and electronics engineering exhibition in Southeast Asia. Enex-Asia '82 the showpiece of the electrical
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  • 517 6 THE CHINA relationship is of paramount importance in Hongkong at the moment so it is only fitting that British civil servants were busy yesterday rounding up non-Japanese cars for the motorcade which will carry Margaret Thatcher about the place when she returns from Beijing tomorrow.
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  • 833 6  -  PAUL TAYLOR reports on the buzzing industry in electronic pest control in the US. PAUL TAYLOR FT SOMEHOW, killing flies with a custom-built flyswat, a rolled-up newspaper or whatever else came easily to hand always seemed fair game: the endeavour involved a mixture of human patience,
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  • Page 6 Advertisements
    • 418 6 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 over a decade of editorial expertise. We have extracted and
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  • Page 6 Miscellaneous
    • 716 6 11-OIE CROSSWORD i 1 CRYPTIC PUZZLE ACROSS 4 Hangs down so that nothing Ml out (6) 7 The sort of rat* for a unique thoroughbred? (3-5) 8 The poet many an officer gets on with (6) 10 A smart sound (5) 13 Animal worth less than a monkey (4) 14
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    • 760 6 Galbraith looks at democracy DEMOCRACY, leadership ul W—H—l «re illeassed by Pnlwwr krsaetk Galkraltk ta today's eplitie sf Tke Age et Umeertaimty (Ck 8, iM). Prafessar Galkraltk states: "It ta my firm view tkat It to outer to uterstaad Ike prsktwra Miera satiety ttaa to tirfi wt tkm." to IMb
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  • 1243 7  -  Singapore Broadcasting Corporation will toon begin a newt programme for children modelled after similar programmes by British Broadcast- ing Corporation and Television New Zealand. RICHARD SEAH reports on how news is presented to children in New Zealand. RICHARD SEAH WHEN New Zealand
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  • 1411 7 SINGAPORE Apparel '83 is not Just a fashion show presented by those in the trade to entertain the glamorous and wealthy around town. Glamour there will be, come October. There will be lunch and dinner shows with 48 models to show the creations of
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  • Page 7 Advertisements
    • 563 7 <It VIKM \N THE CONFERENCE II XNt.K and II XLI.KNOK are tun themes |»er|>etua!!> en<■«j m the hanking sivtot As the computet ami tele. ommunK ation systems hit neater heights nf sophistic ation, then various XPPI IC X I lONS and IMPLH M lONS for ih<" banking si•< to; must
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  • Page 8 Advertisements
    • 310 8 Where to wine, dine and entertain with the American Express* Card "if you dont already have the Card\ call *****33 for an application form" I Vi Wi m •V Si tWA Our popular Nonya Buffet Luncheon ar a special price. With tongue tickling delights like Curry Ayam, Chap Chye and
      310 words
    • 137 8 ti* vtw '..i for sushi, hor teppanyaki. For other authentically Japanese delights. I ,1 > •M" St J t «*i H111"\ I ';irl, Slicriiii mi Sii m i|- m NUTMEGS 10.30 a.m. 3 p.m. $21 -M- per person Please coll *****88 tut 663 to< reservations HYAW RtGtNCVOSiNGAPO« r m ft
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    • 162 8 I he perfec t end to romantic drive r mm: n\||\| \I S vt-i\ k I!u m-.< LvnrK rh< >:mi v Tr. B« v ir-J i;; 1i1.K.! ,;Ji < ur\ If x .i r >* a VM.ii>r u rsii iv;, .rr, s > l '<■: r K, I•' .nj) n
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    • 158 8 Jazz up your favourite drink with the Louis Tan Three-Q t W A 3 v V 1 4 J BUNGE Get into the beat with Asia's leading jaw musician, Louis Tan. At The Lounge. Every night.* It's the nicest way to jazz up your favourite drink. ftfcf A great place
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    • 85 8 vtkx Thi» it Thai Saafood at its authantic bast. So firaafv it couk) hava baan aiiva 15 minutaa bafora coming to your labia It was An anormous variaty of awccuiant aaatooda axpartly praparad by Thai chafa in ouc kilchan Siamese Seafood Restaurant a Panang Road. Singapore 0823 Tal: *****11 (20
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  • RAW MATERIALS
    • 170 9 CHINESE Pradaee Exehaage, *>!>■», e»^« per 1« kg yesterday. Cseeaat «U: Bulk fob $85.00 sellers, old drum (in second hand drum) fob $97.00 sellers, new drum fob $101.00 sellers. Capra: Mixed (loose) $45.00 buyers. Pepper: Muntok white pepper fob Asta NLW $310.00 sellers, Sarawak white pepper faq fob
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    • 142 9 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) Cattaa yara: China Blue Phoenix 20s 2,370; 32s 3,015, 40s 3,080 (per bale of 400 lbs). Pafctotaa raw eettea: LSS 6.03, 4F 6.00; 289F 6.08; NT roller ginned 6.06 (per lb). CLOTH in
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    • 315 9 SINGAPORE: Yesterday's closing prices in S$ per kilo, es-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.00, 100 per cent second class 0.78, 100 per cent third class 0.73, 25 per cent new crop no stock, B-10 per cent 0.70. THAI BROKEN: A-super 1.60, Special 0.55.
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    • 301 9 RUBBER PRICES IN Singapore yesterday closed slightly lower with October One RSS buyers quoted at 180.50 cents per Idlo, down 0.75 cents from Thursday's close, dealers said. Morning prices were marked down slightly on lack of buying support after gaining some ground on speculative buying, in early trading, they
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    • 33 9 Rubber: Sepi 24 Singapore: Oct: 180.50 cents (down 0.75 cent) Malaysia: Oct: 199.25 cents (down 1.50 cents) Tin: MA29.21 per kilo (up one cent) Official offering: 62 tonnes (up seven tonnes)
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    • 74 9 THE STRAITS TIN price in Penang yesterday gained one cent to M 529.21 a kilo, still within the ITA lower sector range of M 529.15 and Dealers said the steadier market wis mainly supported by the buffer stock manager with light demand from Japanese and local quarters. Turnover
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    • 338 9 R AS prices In cents per kilo yesterday: Int. 1 R.S.S. prompt (.0.1 Int. 1 R.S.S October Int. 1 R.S.S. November Int. 2 R.S.S. UK/Coot Int. 3 R.S.S. UK/Coat Int. 4 R.S.S. UK/Ooat Int. 5 R.S.S. UK/Coat Buyer b 180 00 181.00 183.00 171.50 170 JO 167.50 188
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    • 114 9 NOON SSI It and SMR pneaa ymt ard *r BAS SSR 20 SSR tO (1-«ob pmUmi) (1-toa pallet) Oetot (Carnal Bajrara t 167.00 154.80 tar 1 Mtk) 1S6.00N 1MJ0N Navaataar (Forward Mtk) Bayere Sallara ***** 160.00N 156.60 167JON MRELB Oatai tar Navaa •bar SMRCV SMRL SMR 5
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    • 238 9 SOYBEAN futures In Chicago on Thursday ended on the low side of an B'/i US cent range as scattered hedge-pressure held prices on the defensive late, to close off IV* to five cents a bushel. Soy prices refused to follow Thursday's uptrend in grains due to belief that the
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    • 217 9 WHEAT futures in Chicago on Thursday clipped gains late to finish 4V« to 144 cents a bushel higher in slow turnover. Traders said wheat prices followed the trend in corn futures all day and the late retreat in corn sparked sympathetic local selling. Prices held firm on active purchasing
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    • 134 9 THE Malaysian crude palm oil market yesterday closed easier on further selling pressure in moderately active trading. The Sep position in the south dropped M 512.50 to MJ69O a tonne and central M 57.50 to MJ687.50 while in the Oct contract central fell MHO to Ms69o and south
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    • 369 9 Reuter A DECISION BY coffee producers and consumers to extend the current international agreement regulating trade in the commodity (or a further year gave a boost to coffee prices on Thursday. The International Coffee Organisation (ICO), meeting in London, agreed Thursday night to extend the current coffee
      Reuter  -  369 words
    • 200 9 DESPITE US forecasts of the fourth poor crop in a row, a Soviet report on Thursday said there are signs of a good grain harvest this year. "All these forecasts were based not on the real state of affairs in Soviet agriculture, not on the
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    • 300 9 THE market has fluctuated within a narrow range of some two cents per kilo, with turnover during the initial stages showing some signs of improvement, but idle conditions have once again set in. Values finished the period three-quarters of a cent down on balance,
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    • 1144 9 COFFEE: London robusta coffee futures yesterday rose strongly to end the morning call £37 to £5 per tonne above Thursday night's close. Volume was 1,919 including 403 selftrades and four options. Traders said early heavy buying from two Londonbased commission bouses set a bullish trend. Sentiment is still
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  • INTERNATIONAL STOCKS
    • 81 9 SEPTS Dm Hoecbat 112J0 -01 Aef-Tattfunk j» -0J HOMCta 36MB i«* j ll»» Horten UMM1 BSCJ BMW. KHD 1MJ» -1 tOOJO -IS Unde WOO unch OomoMnbu Contl Gum is I 121 jo lianiMsmann M100B i KJO -l 2 Pnuattt 1MJ0B 1 S4J0 R*t ST A 1K-00 unch Scbcrtnf 286J0
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    • 160 9 8XPT 23 PU Kbb 14J0 +ai abm nam a.. KLM «J0 -1 AM_ =uw +i Mtmta 9100 +OJ mom -vj Nurtten 21.10 +«.1 Si2 h National Nad MMO -1.1 AMire Nmb MUO 4U TU# -0.2 Oca Ortnten 1MJ0 -1-2 Amrofto* jmo -ai oranwran 1U0 +03 S3?.: 1030 unch ES2?
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    • 91 9 Lire 81 50 Mediobanca MUuoAaOrd ***** ***** -360 100 CanuiOrd Condcqua Rom* kmm nu< Oenall ***** ass 133 I1S0 1835 *****0 unch 38 ■U 456 16 960 Mondadorl Prh Montedison Olivetti Ord Pirelli And C Pirelli Spa Raa 3600 94.50 2110 2368 1210 *****0 100 -0-5 -1 -14 4-4
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    • 82 9 SEPT O m o«* 1I7C Or Bru Lamb 130 1 -S FORWARD MARKET Hobo* M30 1 unch m M Ryl Dutch 1M0 Aeae Mm turn -SO l unch una Aitur lias 435 uncn Soe Oan Bo If ITH Brmacui Bru-Limb mt ■4 soivsj A n W Unfit -IS 10
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    • 187 9 SEPT 23 Pre GROUP B CORBEILLE Air-Liquid* Mi BS N Oenrala Dtnorn 1471 CSF (Thomson IW1 1* ♦t -J Carrefour Financier* de L "Union Lafarie Mod Htnnw) Opn-Parlbaa 1446 90lM 213 7M 12M0 44 -40 •1 -2 4-T S -4.4 Ctc Prancalae dn PttrolM Credit Ponder 102-30 MO -1-5
      187 words
    • 182 9 SEPT 23 Franca ♦A Sandoa Ret 1470 unch Actions Sulxaea Aluauiaw Br. Aluiul—« Reg Brown Boreri Br aba Oelgy Br. ate Oelgr P C 146 422 133 no 1300 1040 •3 -1 -10 unch -10 Bulaer Pc Sulaer Rag Swlae Bank Br Swim Bank Corp ■tag Swlu R*-Injur JUf
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    • 281 9 SEPT 23 Rand TruMBk Un Steel M M -1 unch INDUSTRIALS Unlaac Wool worth no flO A Alpha 4*0 unch Abercom 290 30 MININGS AM And CI *10 10 Amaprop AMIC SB 3000 unch 130 Anfloa Anctvaai 10M H00B unch -W Barlows C O Smith <00 1MB 10 Blyyoors
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    • 1028 9 NEW YORK STOCK PRICES IN New York on Thursday closed only slightly lower after an upturn in the credit markets sparked a late stock market rally. The Dow Jones industrial average dropped almost nine points during the day but turned around in the last hour to finish
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    • 120 9 SPPT» ra Hud Bay liln M* 8EPT 23 C» Imp ou i""" i!£ "5 'nTprorPtp» Jo* unch A fontt 5i Int UU ZuEFLm "5 InU Nlefeal II* Bank Mont 21 it _u Q an b Mam a M k u IVfTT AOQ m9 t.i LoMa* B unch bp (i,
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  • Page 9 Advertisements
    • 75 9 APOLLO Theatre Restaurant Nite Club TEL: *****66 o a° \P \cv° a vsS L^' <w p,e rt\ a ia^ a 0 3 cv6 A 2 (0* 0) won' Martell Cordon Bleu Spectacula Over $50,000 00 worth ol prizes must be Promotion Period 16.9 82 15 10 82 Every purchase of
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  • 1782 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. BECTION ONE INDUSTRIAL COMMERCIAL Acma (163B) (1)
    1,782 words
  • 162 10 mntura uimrnwr niHONn i i— The ConsMrcc' ***** "LfT The Saving* Fund LB LB (Buigin' prta— «a ley BIB) Sep nia Mil S pore Prof F S pare Sac. Pi S'pore Iaveat UDd LB LIU ad LB LB rwd or lb S pore Fd(US|i 91 OB I5T 1-14
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  • 3004 10 1982 High Low Company Last Sale orGr*« Div Div Cw Gr*s Y'ld Net PfE Vol Day (*000) Higk Low SECTION ONE INDUSTRIAL COMMERCIAL 350 233 308 320 141 291 480 328 247 Ac ma Alcom 132 Allied Choc 210 BAT 283 BaU 08 Ben Berjaya Kawat 138
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  • 1754 10 BID and offer price* <rffirt«ny listed and bwt— in »nH ported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown in brackets in lots of 1,000 units, unleas otherwise specified. INDUIVUIJ AM» (188 UK) LB (2) La A ChM (L7MJ LMS) AMD
    1,754 words
  • 514 10 > wr-jrs*. > S&Z2L.TSSZ > «»m BLeLr-vTi *MMywi B M mm- > MhßlflMilMl. 8 IWpytiS ths day 'wM a 111 pMal gaM M 88 Mgh mun, i ii 11 Mint IM i» 7 Mgh sf iMJ7 by D«8ler« 8814 prleea «MMI iMj 1b 1m
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  • 423 10 SHARE prices finished mixed but with a steadier bias on the Kuala i j—pr stock market yesterday in (airly active trading. Prices opened around overnight levels but improved marginally towards tea break. Thereafter, prices eased slightly until some late buying emerged. Total turnover was slightly
    423 words

  • COMPANY NEWS
    • 593 11 FABER Development Sdn Bhd has unofficially approached many of the traders and owners of some of the lots in the Merlin Tower Complex in Johore Baru to convene a meeting to clear up "whatever doubts" exist between them and the company. But although assurances
      593 words
    • 793 11 Aastral Bat Atom AtaxHIdgi ApeUa Ayer ffltaaiBab AT BaMtftatll CB«pn P K——t DukfW E A I EmM Pkter Merita G E Life OmlCMi Geerge Keat OlwHielj iGdiC* i Gatfcrte [■utaniUM S5 ,UW t faoheaye Ipet (tardea taetaa tataad A Pea M C Eat ICNPI < i Cemeat StiSSTL
      793 words
    • 212 11 Caqpaay API Itaktt Katll Partleaian Ex Date Bssfca( Bonus issue of 1 (or 3 Proposed bonus issue Sep 15 Sep 27 of 2 (or 1 NYA NYA Fed CaMm Proposed rights issue of 1 for 3 i <& |1.I5 per share NYA NYA G Luker Proposed rights issue
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    • 330 11 BEDFORD Plantations, which is trying to diversify into the property sector, has received approval from the Malaysian Foreign Investment Committee for tts proposed acquisition of Hampstead Corpora tioa Sdn Bhd. Haapalsad Is a property company which is the Tainan Sri Ukay I project. 9
      330 words
    • 790 11 NYT THE ALLIED Corp is negotiating a truce with the Martin Marietta Corp, Wall Street observers said. The truce would break a stalemate with the Bendix Corp and thus clear the way (or Allied to proceed with its own plans to
      NYT  -  790 words
    • 155 11 TROPICAL Veneer's earnings have taken aaether tarn tor the wane. The eeaipaay'a anaadtted ptaaged to MfttJM tor Mm drat rfx ■neaths ended Jaae ML In Ike Brat half «< IMI bm tor pram Mere maaigeaMat toea fell 7L7 per eeat to $HM64. Bat altar pmWh| tor
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    • 422 11 DATUK Keramat Holdings Bhd has suffered a further erosion in earnings at halftime reflecting the downturn in the tin extraction industry In Malaysia. Group pre-tax profit! for the six months ended July 31 were slashed 43 per cent to M 54.49 million from $7.88 million previously.
      422 words
    • 294 11 PROPERTY developer Bolton Properties Bhd has reported significantly lower earnings for the half-year period to June 30. Reflecting the downturn in the property market, unaudited group pre-tax profit slumped 67 per cent to MJ1.31 million from $3.96 million in the previous interim period. Group turnover was
      294 words
    • ASIAN STOCKS
      • 385 11 PRICES IN Sydney yesterday edged lower in quiet trading, partly offsetting strong gains scored earlier this week, brokers said. The All Ordinaries index closed 2.1 points off at 521.1. Among metal stocks CRA fell four cents to A 53.83, WMC lost five cents to $3.46 and Renison
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      • 126 11 SEPT M 1 Aofcham Thai Aata Fibre Ajrutftajra Iny And Truat Buwlok iahu 1M a* ♦i Slam Oemanl Slam City Cement Slam Credit South Aala Pure Thai Commercial Bank as ao 11 JO TI «K -M 1 1 BTVh BankOf Ayudhajra Ud Bat* SIMM Berll Juckrr Chuwof Thai wnmm
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      • 416 11 HONGKONG STOCKS IN Hongkong yesterday closed little changed on the day, after being down 14.02 points by mid-morning and up 4.71 points by the morning close, brokers said. Prices fluctuated throughout the day on different interpretations towards the outcome of Sino-British talks on Hongkong taking place in
        416 words
      • 309 11 SHARE PRICES in Tokyo yesterday eased marginally in dull trading. ran (M +4 M -1 MO -5 IN 1 «at at -a p am wi iU -i no unch 875 -11 m +1 M4 unch n -> 14M M TfMW—) rn -a 4UBC -10 m ft
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      • 78 11 SHARE prices in Manila yesterday closed easier on a reduced turnover of 2.2 million pesos compared with 3.87 million on Thursday. ■us ■JO +01 Mil -0-083 M&nna uque o Ortentai B CM uncb US -MM Phil Qiimn 0JS1 -0MB PbttezB Plcop B 010 -0-0025 0.001 unci) PUTT Podco B
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  • Page 11 Advertisements
    • 41 11 REMOVAL NOTICE With effect from 27th September, 1982, our address and telephone Number will be: P 0 Box 10 Changi Post Office Singapore 1750 Telephone: Changi Site *****11-6 Tekong Site *****12/*****05 Telex No.: HDCPTP RS ***** Hyundai Engineering Construction Co Ltd
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    • 55 11 CHANGE OF ADDRESS Shearson/American Express (Re) Limited Shearson/American Express Inc., New York Member of all principal security, option and commodity exchanges With effect from 27th September 1982 Shearson/American Express (Re) Limited will be at 1201-1205 12th Floor Shing Kwan House 4 Shenton Way, Singapore 0106. Tel: *****66 (10 Lines) Telex:
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  • Chief Price Changes
    • 162 12 Rises Indices La rut Til 238 68 Sep 23 Sep 24 C Sugars 960 60 T Harbour 110 53 BT Indicator: *****9 *****7 Taaek Cement Sya Resin* Hune M 570 458 500 25 24 18 ST Industrials: ST Finance: 663.82 1553.52 665.97 1556.12 Federal Flour 194 16 ST Hotels
      162 words
    • Article, Illustration
      189 12 SHARE PRICES opened and closed an a steady note en the Stock Exchange of Singapore yesterday, alter moving sideways far the greater part of the day. The spetlight belonged to selected Malaysian-based Issues, particularly MUI. The Straits Times Industrial Index, which was sff IJtt points at midday, recovered
      189 words
    • 51 12 FINANCIAL TIMES INDUSTRIALS Thursday 5T7.2 Wednesday 982.8 Week Ago 563.7 Friday 1086.36 Thursday 1006.12 Week Ago 1088.28 AUSTRALIAN INDUSTRIALS DOW JONES AVERAGE INDUSTRIALS Thursday 82S.T7 Wednesday 027 01 Week Ago 918.94 Friday 6K3 Thursday 88*7.8 Week Ago... 636.4 ALL ORDINARIE8 Friday 521.1 H.K.HANG SENG Thursday 523.2 Week Ago
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  • 815 12 SHARE price* were firmer in quiet trading yesterday, with the prospects of lower UK interest rates a boost to the market, dealers said. At 3pm, the Financial Times index was up 5.2 points at 582.4. Reports that the recent falls in the domestic inflation rate could lead to
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  • 94 12 AP THE NEW YORK stock market opened lower yesterday, continuing a two-day slide, as investors remained preoccupied with swings in interest rates. The Dow Jones average (ell sharply, dropping 6.71 points to 919.06 in the first half an hour. Stocks falling in price held a slight lead
    AP  -  94 words
  • 271 12 HOTEL Marco Polo Ltd has reported a modest 7 per cent rise in pre-tax profit to $6.98 million ($6.52 million previously) for the six months ended last June, 30. This was achieved on a smaller increase of 5 per cent in turnover to $26.8 million
    271 words
  • 48 12 FOUR rsaipsnka have beea q anted by the Kaaia bumpai Sleek Exehaage ea the sharp rise \m the priee their shaves. They are Umgmi DevtUp mtmf, Rata** Cyekm (M), u!mt The eeaspaalee have beea asked whether there are aay matters «f Impertaaee peadgtve aa lawarflstn reply.
    48 words
  • 485 12 UfflHß II Companies Editor: Mano Sabnani MULTI-PURPOSE Holdings (MPHB) has turned in rather disappointing results for the six months ended June 30, with pretax profit reduced by 10.4 per cent to M 57.49 million. The lower profit is a letdown, considering that group turnover went up
    485 words
  • 359 12  -  By NAJEEB JARHOM MINEBEA Co Ltd, better knovn as Nippon Miniature Bearing Co Ltd (NMB), a leading Japanese manufacturer of precision micro bearings, will issue 10 million shares in the form of Depositary Receipts of Singapore (DRS). The 10 million shares, which
    359 words
  • 208 12 MALAYAN United Industries Bhd will hold an extraordinary general meeting on Oct 28 to 9eek shareholders' approval for its proposed merger with two Malaysian banks. It has proposed to acquire a controlling interest in Development A Commercial Bank and Kwong Lee Bank through an
    208 words
  • LATEST
    • 32 12 oaaoaacnd a pup |w hi praflt of $m,m for the rix DMoth mM Jaae 31. Prohi profit of the prat eompoov was $713,1 it ($482,112 prevleasly). 9SJI mIIHM.
      32 words
    • 25 12 made a pwi profit of $MMM Itrtberii Motk eoM Jaae M (f1.34 mli--11m). Graap win ioeUaof to $SJ mllHea ($1 mllHea).
      25 words
    • 27 12 'haa repartod a pre-tax profit of M*MCB for tke di moaths wM Jaae M ($241 JM). Rahher ooko deereaaed to 1M5,71« (pmjm).
      27 words
    • 48 12 graap pre-tax profit fell l»y S3 per eeat to MS2SJ mllHea (SS4J mllHoo) far the flrat six mootti to Jaae SI. Taraovor dropped by 4J per eeat to $3t5.2 mllllea (***** mUltoa). Eanrtags per ohare alaa fell to 14.4 eeato (ItJ eeato).
      48 words
    • 85 12 haa oowaowf a 24.2 per eeat Miae la prr-Ux praflt to Mfl2J mUtoa (|l(i mllllea) at graap level far the half-year eaded Jaae SI. Thto waa achieved aa a taraever af 135.1 mllllaa ($41.1 mllllaa), repreeentlag a 144 per eeat drap. Ul'eeato) haaed aa ohare capital af
      85 words
  • 288 12 PROMET Berhad's jointventure shopping-cum-of-fice complex in Kota Klnabalu, known as Kompleks Karamungsing, has received good response. Promet director Datuk Abdullah Mohamed said that sale of space amounting to M)GO mflUc been confirmed in the first two weeks since bookings opened. This
    288 words
  • 405 12  -  By SIOW LI SEN FOR THE first time in seven years, Pan Malayan Holdings Ltd has suffered a reversal in its earnings growth trend. But its newly listed subsidiary, Tat Ue Plauee, has reported a modest improvement in profit. For the first half of this
    405 words
  • 115 12 BUKIT Katil Babber Estates Bhd has declared a final dividend of 10 per cent less tax far the year ended April 30, 1982. The dividend is payable on Oct 26. An annual general meeting will be held on Oct 26. SHAREHOLDERS of 8aprene Carp Bhd approved the company's
    115 words
  • Page 12 Advertisements
    • 199 12 Worldwide management experience atyour fingertips. Mind ■wo V > X v ynHT" Mnm,n ro( tuiutiw > WORLD EXECUTIVE S DIGEST is a compact magazine that offers highly readable condensations of the world's most outstanding management articles and books. Materials are carefully selected for their timely interest or their timeless significance.
      199 words
  • Page 12 Miscellaneous
    • 60 12 OUTLOOK for today: Hazy; showers in a few areas in the late morning. Repert for 24 tours prior to 7J* pm m Sep 24 at the mirpert: Maximum temperature 31.8 Associated humidity 55 Minimum temperature 24.8 Associated humidity 97 Hours of sunshine 1.35 Rainfall in millimetres 0.2 Total rainfall for
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