The Business Times, 2 October 1982

Total Pages: 12
1 12 The Business Times
  • 10 1 BUSINESS TIMES M.C.(P) No. 93/1/82 SATURDAY, OCTOBER 1,1*82 60 CENTS
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  • 418 1  -  By LEE HAN SHIH TWO more local banks have joined the Ministry of National Development's Construction Equipment Financing Scheme (CEF) which provides soft loans to help building contractors mechanise their operations. They are Overseas Union Bank and United Overseas Bank. The other participants
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  • 177 1 THE Malaysian ruling requiring cement imported from Singapore to have the Sirim mark of approval may be deferred if the cement shortage persists in Johore. Deputy Trade and Industry Minister Datuk Shahrir Abdul Samad said yesterday the situation will be studied closely before a
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  • 379 1  -  By WANG LOOK KEAH THE coffers of the Skills Development Fund more than doubled to almost $290.2 million in the year ended March 31, 1962. Of the total, $229.8 million was placed in fixed deposits earning interest income. Last year, interest income came
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  • 513 1  -  By JOHN LIM SOME 60 companies have so far agreed to participate in a pilot programme to provide basic education for about 5,000 workers from January next year or earlier. The participating companies are from the private and public sectors and are mostly
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  • 386 1 Reuter THE crisis of confidence in Hongkong in both the foreign exchange and stock markets, precipitated by the lease issue, is likely to deepen next week, stock market analysts and bankers said. The consensus among brokers is that the Hang
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  • BRIEFLY...
    • 66 1 Reuter THE West German Bundestag yesterday removed Social Democratic Party (SDP) Chancellor Helmut Schmidt and elected Conservative leader Helmut Kohl in his place. It passed a vote of no confidence, called by a coalition of Conservatives and Liberals, by an absolute majority of 256 of the 497 members.
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    • 70 1 Reuter A SENIOR official of the Banco Ambrosiano, which was declared insolvent last August, fell to his death yesterday from the fourth floor of one of the bank's office buildings, a spokesman for the bank said. Giuseppe Delia Cha, 54, had taken up a new managerial post
      Reuter  -  70 words
    • 77 1 AFP THE Soviet Union is reckoned to have bought as much as a quarter-of-a-million tonnes of sugar over the past few days, according to trade circles in London on Thursday. No other details are available apart from the fact that 150,000 tonnes of the total would be
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    • 72 1 Reuter THE US military command confirmed yesterday that the blast which killed one of its marines and injured three others at Beirut Airport on Thursday was caused by a cluster bomb. Israel has been using US-made cluster bombs of various types during its operations in
      Reuter  -  72 words
    • 82 1 Reuter A GROUP of Japanese industrialists said yesterday it had urged the government to prepare Japan for the age of nuclear-powered merchant ships by taking the lead in developing reactors for tankers. A spokesman for the Japan Atomic Industrial Forum said the group told the government that the
      Reuter  -  82 words
    • 61 1 Reuter CHINA yesterday greeted National Day with a call for economic flexibility and realism, and stressed that it would not take over wholesale any foreign model of development. The English-language China Daily said all attempts to enhance productivity must give priority to agriculture because of the "unique
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    • 60 1 Reuter THE United Technologies Corporation has been awarded a U*****.9 million contract to build 426 engines for F-15 and F-16 fighters, the Pentagon announced on Thursday. The corporation's Pratt and Whitney division will build the engines for the aircraft which will be sold to Japan, Saudi Arabia,
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  • 297 1 BEATRICE Feeda (S), which is M per cent med by Eraser aad Neave, has sigaed a Hat veatare agreemeat with Ualgate AastraUa la la vest mllltoa la the preeeaaiag aad paekagiag a( batter tat aad ether dairyrelated predacta. The jatat veatare, llalgate
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  • 539 1  -  By RICHARD SEAH INCREASES in the cost of living for Singaporean executives apparently slowed down. A recent survey of over 2,000 local executives showed that their living costs rose by only 5.4 per cent during the year ended July 1962. This compares favourably with
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  • Page 1 Advertisements
    • 233 1 Times Bookshops raaaz THE London International Financial Futures Exchange made a raucous entrance on Thursday into the frenzied world of currency and interest rate trading. Page 2 AN American consultant, David Sassoon, has suggested that countries like Singapore could offer their expertise in factoring to other developing countries Page 3
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    • 62 1 When dining Italian at Taverna Isn't it nice to know you've got the Card. La Taverna restaurant at the Hotel Grand Central offers a toast to the good life with pasta, pizza, and vino. This hearty Italian zest for living makes La Taverna high on the list of the discriminating
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    • 97 1 The Singapore's Straits Business Times World at your Fingertips DIRECTORY Of Singapore (Buku Merah) GRAftD SLAM* bv/HUNSING\NL4Ru S A J i i Professional golfer Keith Fergus seleets the ultimate in comfort when he wears this GRAND SLAM golf shirt by Munsingwear Keith chooses (IRANI) SLAM Inrcause he cares altout fit,
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  • BANKING AND FINANCE
    • 792 2 NYT WITH champagne and more sedate beverages flowing freely in the galleries, the London International Financial Futures Exchange made a raucous entrance on Thursday into the frenzied world of currency and interest rate trading. While the sound of the opening bell still reverberated
      NYT  -  792 words
    • 192 2 THE three letdag America* teaks here have rediced their prime lending rates te II per cent Baah ef America was the first te est its prime ea Sep M by half a p*lnt. This was fellewed yesterday by Chase Manhattan Baah with a quarter
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    • 505 2 Reuter WITH a Oat economy, National Westminster Bank PLC's UK growth plans centre mainly on the unbanked 40 per cent of the population and the expansion of its non-banking services such as insurance broking, chairman Robin LeighPemberton said. He said Natwest believes it is
      Reuter  -  505 words
    • 100 2 Reuter THE US Federal Deposit Insurance Corp has paid U5552.9 million to 532 credit unions, savings and loans and commercial banks which made investments in the failed Penn Square Bank in Oklahoma City, the US House Banking Committee said. But according to a hanking staff
      Reuter  -  100 words
    • 239 2 Reuter INTERNATIONAL bask leading, which has already slewed sharply, Is beaad to stow farther, Mergaa Guaranty Trast Ce said la Its meathly pabHeattoa, Werld Flaaadal Markets. lie immediate reasaa tor the stowlag Is the debt problems d Meziea aad Argeatiaa, twa af the mast
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    • 505 2 Reuter ARGENTINA is arranging a US$l billion bridging loan with several banks to help pay debt arrears while it negotiates an IMF credit facility, London bankers said. The loan is being discussed in Buenos Aires this week, with US banks playing a major role. One
      Reuter  -  505 words
    • 261 2 Reuter A SYNDICATE of Japanese banks is offering a three-part 10-year credit package for a steel plant to the National Steel Co of the Philippines through C Itoh and Co Ltd of Japan and Davy Mackee of the UK. A 60 billion yen portion, of
      Reuter  -  261 words
    • 426 2 Reuter FOREIGN currency deposits with banks and deposit-tak ing companies in Hongkong rose 135 per cent between end-February and end-July, Financial Secretary John Bremridge said. He told the Hongkong Society of Security Analysts foreign currency deposits rose to HKJ76.3 billion from $32.5 billkm, while Hongkong
      Reuter  -  426 words
    • 255 2 THE newly introduced World Bank short-term discount notes maturing in from five to 360 days have been selling well, dealers in New York said. The bank began offering short-term notes on Wednesday in an effort to broaden the market for its securities which, until
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    • 97 2 Reuter SEVERAL dissatisfied bankers are suggesting changes to the proposed documentation agreement on France's US$4 billion Eurocredit, London banking sources said. "The whole document is just loose," one US banker said, declining to be more specific. The banks are contacting Societe Generale. which arranged the
      Reuter  -  97 words
    • 284 2 A PANEL of world experts on computer and telecommunications systems will be speaking at the conference, "New directions and challenges for the future bank". To be held at the ShangriLa on Oct 7 and 8, it will be attended by many bankers from
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    • 193 2 Reuter A NEW YORK State banking official has urged Congress to consider enacting legislation that would bar foreign interests from acquiring the largest US banks. Alan Cohen, acting superintendent of banks for the New York State Banking Department, told a government operations
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    • MONEY AND EXCHANGES
      • 22 2 THE average rate al which major Singapore banks are currently prepared to lend to their best customers is 10.04 per cent.
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      • 179 2 ASIAN ASIAN currency deposit Interbank rates as at close on Oct 1: US Dollar*(Spot) Offer Bid 7 days 113/16 111/16 1 month 11* 11* 2 months US/16 113/16 3 months 11* 11* 6 months 121/16 1119/16 9 months 123/16 121/16 12 months 125/16 12 3/16 Dm Svin. /UUJL. 1 month
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      • 49 2 i f ■d by discount house* on Oct I: Overnight: 3W Call deposits J i 3'. Closing Bsjrinf 8«Uin« 3-month Treasury bills 3 I* 3-month Bank bills 7 13/16 7 11/16 3 months CD 7 7/16 7 5/16 6 months CD 713/16 7 11/16 Source: National Discount Co
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      • 49 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Oct 4 to Oct 8: Offered: $100,000,000 Applied for: $166,500,000. Allotted: $100,000,000. Accepted Mds: $99.27 approximately 85 per cent; higher bids in full. Avenge rate «I dfoceut m alfotmeat: 2.900 per cent per annum.
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      • 76 2 Opening quote* yesterday US ***** 56 CM-2.0860 15 Cn*i 1 2383 66 D Mk 4 2736 773 D F1 4 6686 733 S Ft 3 6693 744 B Fr con 82 90 83 10 F FY 12 0613 840 Lit 2403 35 2406 20 Yen 454 60 455 32
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      • 436 2 THE US dollar continued to strengthen against most major currencies yesterday except the deutschemark In a moderate thin market. An inflow of funds from Hongkong, caused by the colony's uncertain future, lent some life to the market and was partly responsible for the strengthening of the local currency
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      • 229 2 THE DOLLAR for overnight delivery in Tokyo yesterday closed firmer at 269.00 yen, up from a 268.60 opening, but compared with a day's high of 269.45 in the afternoon, dealers said. This was above the 268.50/60 finish in New York but below the 269.40 close in Tokyo on Thursday.
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      • 259 2 GOLD FUTURES in Singapore yesterday closed slightly firmer compared with overnight New York levels, after fluctuating narrowly throughout in light trading. Total sales for the day was recorded at 183 lots while kerb volume at 178 lots. December closed slightly higher at U*****.80/405.20 an ounce against 404.00/ 405.50 in
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      • 34 2 New York 8.05B 8.03B Zurich 8L2S 8.206 8.13S 8.30B 8 306 8.30S PM Tfcan Singapore 8.05B 8.08B 8.1SS 8 18S Closing price* in US dollars a troy ounce. Source: Credit Suisse, S'pore.
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      • 73 2 THE US dollar in Hongkong yesterday eased against all major currencies and the Hongkong dollar in (airly quiet, late trading after a lower European opening, dealers said. The US unit retreated to HK56.3450/3550 after reaching 6.38/40 earlier. Banknote rates yesterday US 6.32/6.34 UK 10.60 10.80 Brunei 2.78/2.80 W Germany
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  • Page 2 Advertisements
    • 234 2 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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  • TRADE AND INDUSTRY
    • 393 3 THE Times group of companies is investing more than $1 million in microfilm and computerised telecommunications equipment. The group has purchased two Rolm telephone systems at a cost of about 1900,000 and intends to spend another $200,000 on a 3M microfilm camera and several
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    • 532 3 COMPETITION among frozen meat wholesalers is warming up. By the end of this year, three of the six or seven major frozen meat wholesalers here will have expanded their operations in their new factories in Pandan Loop. Malayan Refrigeration Company Pte Ltd (MR Co),
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    • 778 3 SEMINARS AND COURSES Sep 27-Nov 10 (Mondays, Wednesdays and Fridays): Recruitment, Selection, Placement and Induction (Personnel Management Programme), Institute of Education/Bukit Timah, NPB Oct 4-5: Basic Data Communications, Hilton Hotel, Institute of Advanced Computer Technology Oct 7: South-South Dialogue, Statistical Laboratory (AS2-223) of the NUS Department of Economies
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    • Article, Illustration
      331 3 TRANS Equatorial Enterprises (SEA) has introduced a floor cleaning machine called the Rotowash. Manufactured in Austria, the Rotowash uses two counter-rotating brushes to scrub and simultanously pick up and transfer dirty water on the take-up drum. The take-up drum transfers the dirty solution into the waste water container
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    • 138 3 MOTOR and Leasing, local agent for Isuzu vehicles, has won a $2.5 million contract to supply dump trucks to an earth moving contractor. Under the contract, which will be signed today, the company will supply 40 units of 24-tonne dump trucks to Hiap Shing
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    • 246 3 SINGMARINE Shipyard has secured a $1.9 million contract to repair a research ship for the Thai Fisheries Department. The agreement was signed earlier this week by the yard's representative in Thailand, the Suriya Associate Company, and the department. The ship was damaged
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    • 552 3 A BRITISH-based merchant bank has launched a comprehensive scheme to encourage local and regional investments in United States real estate. Temenggong Merchant Bank, the merchant banking arm of the Bowater group, has identified the United States as the "best bet" investment
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    • 307 3 NIPPON Miniature Bearing, a leading producer of precision micro bearings, is planning to increase its output of stepping motors in Singapore by the end of next year. Stepping motors are basically electric motors used in industrial and commercial products. The increase will raise
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    • 367 3  -  By LEE YOKE MENG AN AMERICAN consultant has suggested that countries like Singapore could offer their expertise in factoring to other developing countries. Mr David Sassoon, a private consultant with considerable experience in drafting international agreements and legislation, made this call at the
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    • 287 3 JOHN MeLEAN has been appointed chief manager of the Singapore branch of Midland Bank and managing director of the bank's wholly owned subsidiary, Midland Bank (Singapore) Ltd, from Oct 1. Mr McLean was previously senior executive (loan syndication department) at Midland Bank International in London. He succeeds
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  • Page 3 Advertisements
    • 193 3 *1> s -p V C 1 > -t •we* <r. IT 35? X\M\\ P CURRENTLY A HUGE HARDBACK BEST SELLER M THE USA THE SOUL OF A NEW MACHINE ~"™H Everything you read actually happened. No names have been changed. Nothing controversial has been left out... This remarkable true story
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  • OVERSEAS
    • 606 4 NYT, Reuter TWO new US economic reports provided more bad news for President Reagan's Republican Party preparing for next month's congressional elections, but the Reagan Administration said it remains confident that recovery is under way. The commerce department's index of leading economic indicators,
      NYT,; Reuter  -  606 words
    • 131 4 Reuter NO EUROPEAN community steelmaker will have a viable business by 1985 because the industry will be working at less than half capacity. The European Independent Steelworks Association, whose members account for 10 to 15 per cent of community steel production, said on Thursday
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    • 397 4 Reuter THE EUROPEAN commission has called for a radical shift in the European community's Third World aid policies, including a greater emphasis on food production. Commissioner for development Edgard Pisani said on Thursday that aid must be tailored more closely
      Reuter  -  397 words
    • 311 4 Reuter THE drop in the demand for oil that caused the current glut may be levelling out, according to the International Energy Agency (lEA). IE A executive director Ulf Lantzke said in west Germany that world oil consumption would total some
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    • 445 4 NYT IN AN escalation of its efforts to stall the construction of the Soviet natural gas pipeline to Europe, the Reagan administration has written to 39 American companies for detailed information on all exports of oilfield technology over the past seven years. It
      NYT  -  445 words
    • WORLD IN BRIEF
      • 427 4 Agencies TOTAL energy requirements of International Energy Agency (lEA) member nations are likely to rise by up to 2 per cent in 1983. lEA executive director Ulf Lantzke said in a speech prepared for the European Federation of Financial Analysts Societies in Mainz, West Germany, this
        Agencies  -  427 words
    • 217 4 THE MALAYSIAN International Shipping Corporation (MISC) saw its profits eroded more than hall last year, to Ms2o million compared with 154.7 million previously. Admitting the outcome could have been worst, the executive chairman, Tengku Tan Sri Ngah Mohammed, said global recession had cut deep into the
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    • 89 4 UPI THE CITY of Los Angeles is selling 53 pet rats seized earlier last month from an apartment dweller who let them run free throughout the building. Calling the rats "good pets," Department of Animal Regulation officials on Wednesday said they could be bought
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    • 322 4 AT CONVENTIONAL WHARVES Vessel Berth Agent Arrival Departure KEPPEL WHARVES Duke 24 NAPL alongside 2.10.82/0600 Kusu Island 8/9 S pore Shpg alongside 2.10.82/0600 Barber Priam 46/7 Barber 2.10.82/0400 2.10.82/2359 Balantang 45A Lian Soon 2.10.82/0700 2.10.82/1200 Bunga Seroja 47 Leo 2.10.82/2359 5.10.82/0600 Lampung 31 Bakke Sd 2.10.82/0700 2.10.82/2300
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    • 340 4 UPI THE Federal Trade Commission in the United States said in a report that oil industry mergers may actually be good for the public and existing laws can adequately deal with potential antitrust problems. The report, certain to provoke criticism from
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    • 218 4 AP BRITAIN'S Medical Research Council announced it has drafted ethical guidelines for doctors engaged in the study of spare human embryos, an issue that has raised a storm among doctors, churchmen and antiabortion organisations. And the Roman Catholic church announced the formation of a
      AP  -  218 words
    • 567 5 NYT EXPERTS appointed by the National Academy of Sciences, and given top-ae-cret intelligence briefings, has concluded that there has been "substantial and serious" leakage of US technology to the Soviet Union, including "a significant portion" that is "damaging to national security". But
      NYT  -  567 words
    • 516 5 Reuter YAMAICHI Research Institute (YRI) expects Japan's real economic growth rate to slow to 2.1 per cent in fiscal 1962 ending next March from 2.8 per cent in fiscal 1981. The private Japanese research body also forecast real GNP growth of 3 per cent in fiscal 1983.
      Reuter  -  516 words
    • 736 5 ARRIVALS Serrice Local Operator Number Time From PAA PA005 0025 JFK/SFD/HKG FT FT71 0040 JFTf/ORD/ANC/ NRT/TPE/KUL CAL CQ31 0060 TPE SIA SQ101 6606 KUL MAS MH601 0920 KUL MAS MH682 0945 KCH RBA Bid 1000 BWN MAS MH671 1020 KUL SIA SQ201 1030 HLP CPA CX710 1035
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    • 152 5 UPI AUBTBALIAN Ferelga rfiaiii 11 tofcwy street hu pratoed "tie wtrtaiMt fnataaii" el the Ai««i (nutrtw it ft time ef grim said <m aa iMntad tread gpaahta» Amerleu Umisday, It Mli the Mm total N(Mi el the hmerle el* the' West" 'ul "Im lem«Mel tMr
      UPI  -  152 words
    • 311 5 Reuter INDUSTRIAL countries show no clear signs of recovery with output In the first half of this year slightly below last year's level and only slightly above the level two years ago. The Bank of England said In its latest quarterly
      Reuter  -  311 words
    • 163 5 AP OCCUPANTS of two Japanese imported cars made from 197<Wfl. file the most injury and collision claims from insurance companies in America. According to an independent study of insurance records, most large station wagons and four-door cars file, the fewest claims in
      AP  -  163 words
    • 162 5 AP A NEW study concludes that a prehistoric human ancestor lived in what is now Israel 500,000 years before appearing in Africa, challenging the prevailing view that the human race originated in Africa. The finding does not necessarily mean that the ancestor,
      AP  -  162 words
  • Page 4 Advertisements
    • 197 4 Worldwide management experience atyour fingertips. Tbdr®est peopte 'Ss u r «»4 r anui.. fT P" r rf > TMrn 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
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  • Page 5 Advertisements
    • 96 5 hef? gain' I 1 I I I 1100 brilliant photos, 440 pages, specifications onlooonew models, etc. all beautifully presented in an attractive and sturdy hard-back volume. Only $126 ~*Zz m •y 1 I i« "r« wtrHi# r- HKMKMHKK»BOOKSPEED SERVICE MKK9XKKH Times Distributors Sdn Bhd Times Centre, 1 New Industrial Road,
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  • 519 6 THERE WAS a time when playing with machines involved at least the slim chance of making some money as well as a certain amount of exercise, if only yanking at the handle of a one-armed bandit. The coming of the microchip has put an end to
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  • 733 6 Reuter WALT Disney's vision of the future has become a shining reality 16 years after his death. Mickey Mouse has no place in it but businesses have. The Experimental Prototype Community of Tomorrow, or Epcot, is a US$BOO million showcase for the idea that technology dressed
    Reuter  -  733 words
  • Page 6 Advertisements
    • 160 6 if you want to reach manufacturers, exporters and importers, then Shipping Times is the right advertising medium for you It you're a freight forwarder or in anyway connected with the shipping and cargo business, Shipping Times has just the space tor you You'll be reaching a very select group of
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  • Page 6 Miscellaneous
    • 1017 6 The human digestive system THIS pragraaune may aat ga dawa taa wall with Ike The Hmmam My: Dtgmtive System (Ch 5, UK) la lafarmattve Jaat tka riaw far ptaple wba wait la kaaar what kappe— ta toad attar It paaaaa tkroogb tke maatk. Animation, aat agalaat ulntagf aha af the
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  • 1522 7 NYT STAR Wars, the biggest box-office hit so far, came to US television last week. But only about 1.5 million viewers could watch it. Their television sets are equipped with pay-per-view devices that enable them to tune in to programmes that they select.
    NYT  -  1,522 words
  • 597 7 NYT THEY jpe like sculptors' assistants, people who cut a block of marble into the rough form of the finished work. The assistants, in this instance, are three little-known men who have just begun preparing the economic forecast that will become the foundation of the Reagan
    NYT  -  597 words
  • Page 7 Advertisements
    • 503 7 II \IKM N os i. H Z a? «s« OS 2 j z 7 H H tt QU S3 fc u z Z X H H Z Z O Z X M. VIIK SEMINAR You don't have to he a financial wizard to he a great manager. Many outstanding businessmen
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  • Page 7 Miscellaneous
    • 633 7 TWO-IH CRYPTIC PUZZLE ACROSS 3 Make love or anoop misguidedly(s) Just a line, not even a letter (5) 10 Place for a drink ratter than a big spread (5) 11 Talk someone senseless? (3) 12 Looks after ten old coins (5) 13 Smiles to impress, maybe cn 15 Tolerates speculators
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  • Page 8 Advertisements
    • 243 8 Where to wine, dine and entertain IB with the American Express' Card If you don't already have the Card, call *****33 lor an application form Our popular Nonya Buffer lrfl r n Luncheon ac a special price. With tongue Timun, just to name a few. Take your pick, it's great
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    • 143 8 "fjfU*iu iW < >r sushi. For teppanyaki. For other authentically .Japanese delights. I 'M .7 < >'.s y- -«v JV® «-11 11 i'> I*: i*k *">l m n< >i i 1114: i| ir< t I? n TW m NUTMEGS offers 10.30 a.m. 3 p.m. $21 per person Pleas* col *****88
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    • 198 8 I he pertccl end to <t romantk drive 11\ I KINI\ I k I I he -c.i !..p- tilt- p.i'ni »i i. ti .Iv >! ir«:;rr i ill.km ,im .ijt .trv.i J-i n> «r .<! ltivik'■". Ihr .::r i- i\ >.\ the Md-.t .<?;vrtunvJ.:Uv,r-. N«tt. i":i -;H :.i! t ll.i
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    • 172 8 Jazz up your favourite drink with the LouisTanThree-O. a a V -V I 4 K_ •N BUNGE Get into the beat with Asia's leading jazz musician, Louis Tan. At The Lounge. Every night.* It's the nicest way to jazz up your favourite drink. A great place to be. Dine in
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    • 113 8 Rfcasgood as going to Bangkok. ♦.V V, This is Thai Saalood at its authaottc bast So fraati. it could hava baan alira 15 mmutaa batora coming to your tabta. It was An anormous variaty of »uccutant aaafooda axpartly praparad by Thai chat a in our kitchan Siamese Seafood Restaurant Parang
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  • RAW MATERIALS
    • 561 9 COFFEE: Robusta coffee nearby positions yesterday rose to fresh contract highs at the opening call, ending between £22 and £8 a tonne above Thursday's close in traded positions. The physicals market remains quiet as high prices keep roasters on the sidelines. Volume at the opening call totalled 415
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    • 137 9 THE Malaysian crude palm oil market yesterday closed mixed on lack of follow-through support in moderate trading. October in the central lost Mslo to M 5667.50 a tonne and south M 52.50 to M 5677.50 while in November central rose M 57.50 to M 5682.50 and south M
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    • 130 9 WHEAT futures in Chicago on Thursday sold off to close on a weak note, down I'/« to three US-cents per bushel. Late selling in December by a brokerage house and a local grain house pushed values to near contract lows, traders said. Steady exporter buying sparked rumours that the
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    • 96 9 SOYBEAN futures in Chicago on Thursday closed on a weak note near season's lows, off five to two cents per bushel. November posted a seven-cent range in light trade. The outlook for increased hedge pressure as harvest progresses and farmers are forced to sell due to lack of on-farm
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    • 174 9 CHINESE PrWiee Exefcaage, Singapore, mm elMteg prim per lM kg yesterday. Cmwml «U: Bulk fob $85.00 sellers, old drum (in second hand drum) fob 198.00 sellers, new drum fob $102.00 sellers Capra: Mixed (loose) $45.00 buyers. Pepper: Muntok white pepper fob Asta NLW $310.00 sellers. Sarawak white pepper
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    • 142 9 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) Crttaa yara: China Blue Phoenix 20s 2,370; 32s 3,030, 40s 3,100 (per hale of 400 lbs). PaUrtaa raw »Mm: LSS 6.05, 4F 6.05; 289F 6.10; NT roller ginned 6.07 (per lb). CLOTH in
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    • 328 9 SINGAPORE: Yesterday's closing prices in SJ per kilo, ex-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 0.72. THAI BROKEN: A-super 0.58, Special 0.55.
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    • 311 9 RUBBER PRICES in Singapore yesterday closed slightly higher with October One RSS buyers quoted at 181.25 cents per kilo, up 1.25 cents from Thursday's close, dealers said. Morning prices were marked up slightly on higher London advices and gained further ground on speculative buying, they said. Afternoon prices gained
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    • 34 9 Rubber: Oct 1 Singapore: Oct: 181.25 cents (up 1.25 cents) Malaysia: Oct: 197.50 cents (up 0.50 cents) Tin: M 529.15 per kilo (down four cents) Offical offering: 35 tonnes (down 15 tonnes)
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    • 113 9 THE SRATIB TIN price la Penag yesterday drtpped to the IT A fleer level tt Mfa.U, dewa lev ceats (rem Birii»y. IWa marks toe (earth toll to toe fleer level tote year. The (all eeiaeided wfto toe first toy trem which toe lateraattoaal Tla Ceaaell (ITC) (earth qaarter
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    • 318 9 RAS prices In cenu per kilo yesterday: Noon (per kOo) QOK (per Idlo) Int. 1 R.S.S prompt f.o.b. 180.00 Int. 1 R.S.S. October ***** Int. 1 R.S.S November 114.00 Int 2 R.S.S 171.25 UK/Coat 170J5 Int 3 R.S.S. 167.25 UK/Coat 106.25 Int. 4 RS.S 158.25 UK/Coot 157.25 Int.
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    • 89 9 NOON SSI R and Sl/R pnoat p aaurdiy IAI Octet ICwml m Utk) (Panrar4 k;wi h 166-60 166.00 tar Mil) SSRSO SSRSO (1-toa palWt) (l-loa paUat) Btym 8< 167 JO 156.00 »Uara 1MS0N 167.Q0N »Dan 16# JON 166.00N iiiiiiij S8S$ w H2{ (l-toepaU*) dm ptlkl (1-toa pdbt)
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  • INTERNATIONAL STOCKS
    • 1176 9 NEW YORK STOCK PRICES in New York on Thursday closed below the 900 level on the Dow Jones Industrial average for the first time in a «•nth as the market came under pressure an increasingly gloomy economic outlook. The Dow Jones industrial average slid more than nine
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    • 268 9 KPT 10 ftand INDUSTRIALS A Alpha m Abarcom 280 unch AX And CI (IS unch Jan: j Barlow* MO -10 coauth im unch CM A 190 Cwrta finance 719 +5 Do Bun tnd rS voik 8800 406 unch runt m +s Oratamn HMU Life HoMa BOB M0 -10 MS
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    • 154 9 SEPT SO A MUM 9 it 47H LiIJ Ik uaeh Ball TM BP Can Ltd c -H u u XI a u H -H H uocb ST uneh to Coa alnco 44 H H H B B Cons Mmrtwoor BM>M Dom Store Dots Tar n n 44 H -1
      154 words
    • 171 9 MPT 30 Pl» CORBKILLE Atr-UniM* BIN OamJa CBT (Tbowaa n«fi 444 MM 1uojb -JO +M Cl« ftUMlM te PvtralM Crvdlt roocter D» Pranc* MJO m -1.1 HachclU lifchrtln (B)— M 17 JB m -U 006 -IS Omnium 710 -11 FNIM* mio -1.7 Philips (N< CXI PrlnUmp* 8 A Rot»1
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    • 181 9 SEPT 30 Prancs Actions SuUaei Alusuisae Br. M* 440 5 Alusulase Rcc. Brown Boven Br Cite Oelgy Br. Cite Oetcy P C uo r» 1775 1060 4 unch ♦S unch Cite Oelfy Rcc. Credit Bulaae Br Credit Suisse Reg Elektrowatt Br. Oeorfe Placher Br OlobusPc I 1636 31* 2375
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    • 80 9 SEPT 30 Pn FORWARD MARKET ACM 900 -M Artwd IIS -71 Ajtur m •u Brucin mt 1 Bru-Lamb 1222 10t •W I Dt Bwn Mt -1 Bins u» -30 DactioM «no -85 Oto-Inno-Bm rm J On too 15 Or Bru Lamb MM Hotoot 3BW -ao pttro x*o «c Rjrt
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    • 38 9 SEPT SO Lire BXM +1J Central* Ort Cood Acqua Rom* Ertd&ni* MM *4* lit -10 MM -M rtfttOnl Ocnermll 1M0 -ft llOM »n Olm MM In«Mt Seo *no iulcemenu Ort Ital«M •17 LepeUtOrd SITOO -510 Source: BCI
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    • 76 9 SEFT 30 Dm Aaf-Teiefunken RARr nam -a* Bam ill JO -1J mr BMW- 1U0 unci) Commersbank 121® -1 Contl Oumml SUM -1J Daimler-Bent Decuaaa 330-MB unci) urfwntr mni us.tw «_3 OHH ***** -l H oac hat HOMCh HorUn Kamadt KHO Llndc MM 3UD 1SJJ0 aua -ii 0.4 -1 •u
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    • 184 9 SEPT 30 PU ARM OS 00 -U Ahold BJO -X* Akao BJO -0* AMKV Amfu MO 74.00 -1J 1.1 Amrobnk W SftJO ZZZZ 15.90 -06 0J Bote Bortueer IU0 wo ♦04 -1 Boi>i Burtct Caland r jo MJO M00 -0.7 -4L5 -OJ C«J» Dill MIJ no jo M 00
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  • Page 9 Advertisements
    • 6 9 See Page 11 for Asian stocks
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    • 380 9 Selected speeches and writings of C.V Devan Nair •elected and of C.V. Devan Nair 1959 198 1 >*&&>*■ yy At ABOUT THE BOOK "NOT BY WAGES ALONE reads like a movie. In their sequence, the selected speeches, each in its own time-frame, reflect the political, social and economic development of
      380 words

  • 2235 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday, with the number of shares traded shown in brackets in lots of 1,000 units, unless otherwise specified. SECTION ONE INDUSTRIAL COMMERCIAL Acna (2.638 2.098)
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  • 194 10 SINGAPORE INTT TB18T DIAMOND MOT stoke (Mi—irri' mrtem tar Oct 4) (Managun' prim tar Oet Z 4) The Commerce 2.T4 2.88 Sep Oct The Savtagi Fund 1.52 1.C0 Diamond 0 54 058 S pore Prog Fund 1.J0 l.Xxd S'pare Fd(USt) S pore Sec. Fund 180 1.89 SI 1.18
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  • 2923 10 Gr*» Gr*» Net 1982 Company Last Div Div Y*W P/E Vol Div High Low Sale or- C'rr (*000) High Low SECTION ONE INDUSTRIAL COMMERCIAL 350 247 Aetna 276 21.7 0.8 75 26.7 Alcom 115 3.7 05 35 955 233 132 Allied Choc 170 unch 7.0 16 4.1
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  • 1877 10 BID and oner 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. DCMJBTUAIJI I|hhll (3.008 3 OSS) Atoaa (1.278 1 28S) (I) 1* (5)
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  • 876 10 SOME Nieettve late baylag the fflmpiw share market yesterday helped to eelllag tide which vat laspired fey weaker «verses* seattmeat. This resaltod ia a mixed to slightly eader flaish. Tradlag m filet. Beceat Malay* as fcaaed favearltes aad aoe toeal stocks gave the
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  • 486 10 POOR overseas markets dampened sentiment at the Kuala Lumpur stock exchange yesterday, sending shares broadly lower in less active trading. Total turnover was markedly reduced to 8.571 million units valued at MJ23.076 million, compared with Thursday's 9.874 million units worth $26,405 million. Interest was poor
    486 words

  • COMPANY NEWS
    • 437 11 THE earnings of Dunlop Estates Bhd, which was the centre of a controversial change in ownership last year, has taken a further dive for the half year to end-June. Taking a severe beating from the drop in prices for all its crops, DEB's interim
      437 words
    • 436 11 Reuter JARDENE, Matheson and Co Ltd's chairman David Newtrigging said he anticipates second-half profit growth similar to the 20 per cent increase registered in the first six months of this year. He said in a statement this is in spite of a slowing in the
      Reuter  -  436 words
    • 204 11 Reuter THE Australian government's Trade Practices Commission has confirmed its decision to seek changes in domestic stockbroking practices. In a preliminary decision taken in June, the TPC decided to end fixed brokerage fees and liberalise broking industry membership requirements. The only alterations to the original decision
      Reuter  -  204 words
    • 311 11 Reuter STRONG demaad MtttuM far the Hugkiag Uuri Ce Ltd's commercial property la the central baataeas district *f Haagkaag, maaaglag director Trevar Bedford said. He laid a press ceafereaee after the eampaay aaaaaeed a 17Vi per eeat iacreaae la ceaaaUdated first half 1982 aet
      Reuter  -  311 words
    • 59 11 SHAREHOLDERS of AJbMOMt* (M) Bfcd have approved the resolution relating to the special issue of one million new shares to Permodalan NasionaJ Bhd at the price of M$2.50 per share and the bonus issue of two-for-flve. Applications would be made by the company for the listing and quotation
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    • 711 11 DATUK Azman Hashim, executive chairman of Taiping Textiles, has confirmed that he has finally gained full control of Arab-Malay-sian Development Bank (AMDB), the largest merchant bank in Malaysia. Datuk Azman said at a press conference held in Kuala Lumpur that he has already signed
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    • 505 11 Reuter ABOUT 100 companies out of 1,421 listed on the Tokyo Stock Exchange face eventual delisting under new listing standards, effective yesterday, when a revised commercial law took effect, securities analysts said. Under the new standard, companies have three years to reduce the proportion
      Reuter  -  505 words
    • 174 11 F W WOOLWORTH Co has agreed to sell, for US$279 million, the 52.6 per cent interest it holds in Britain's Woolworth chain. The sale, part of a plan to divest itself of unprofitable properties, would result in a loss of about $80 million in the
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    • ASIAN STOCKS
      • 404 11 HONGKONG STOCKS IN Hongkong yesterday closed weak on renewed selling in the afternoon, following news China has challenged Prime Minister Margaret Thatcher's statement that Britain has a moral responsibility towards Hongkong, brokers said. The Hang Seng index closed off 65.12 points at 862.06 after losing 57.90 at
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      • 490 11 THE TOKYO stock market yesterday average fell to a two-year low, losing 60.95 to close at 6,849.78, dealers said. The overnight fall on the Wall Street where the industrial average dropped to below 900 and the yen's recent weakness against the dollar depressed share prices
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      • 328 11 SHARE prices in Sydney yesterday fell for the sixth successive day amid nervousness on international markets. The All Ordinaries index lost 2.9 to 500.4. OCT 01 1 rent* INDUSTR IALS A. C. 1 A. N. I. A. P. M 173 1 AHVed Mill 220 136 unch Ampol Pet IS
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      • 90 11 SHARE prices in Manila yesterday closed firmer in a sharply reduced turnover of 642,330 pesos, down from 1.64 million on Thursday, dealers said. Hm ID^K^ZZ cnr» f 0J Flr*t Phil Hkl(l -MO 0 06 Lcptnlo B. OR 0 004 Mutntuque B i« 046 Marateel 0002 unch Oriental B 0
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      • 138 11 OCT 01 Aotham Thai Asia Fibre Ajruthaya In* And Trust Bahu 1 IS unch Bangkok Bank Bank Of Ajrudhan 250 unch Ltd Bala Shoe Berll Jucker I 317 -4 Charoonf Thai Wire 252 -2 Firestone -05 First Trust SO 25 Ooodjrear 1 •1 -4 >025 •1 -1 Industrial Finance
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    • 884 11 Carreat Ex Beaks Date Tata! tar Tata! tar Paymeat Date Claae Payable tke year Prrvteas year A astral AnuU 409} Oct 14 Oct 26 Nov 9 Wi Antral Eat 10%I Sep 17 Sep 30 Oct 12 109} 22% AkM 2WI Sep 21 Oct 2 Oct 15 mu> Apaiia
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    • 218 11 Ctopuy Pvtteaian Ex Date Bssks Close Baklt KatU Proposed bonus issue of 2 for 1 Oct 5 Oct 15 PM Cattn Proposed rights issue of 1 for 3 fe $115 per share NY A NYA 0 Lam tor Proposed rights issue of 3 (or 10 $1.00 per share
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  • Page 11 Advertisements
    • 127 11 FAR EASTERN FREIGHT CONFERENCE SABAN, BRUNEI AND SARAWAK FREIGHT CONFERENCE FAR EAST/GULF OF ADEN AND RED SEA PORTS CONFERENCE NOTICE TO SHIPPERS CURRENCY ADJUSTMENT FACTOR Reference is made to the notice in the press on Wednesday, 22nd September, 1982. A review of currency values on 27/28/29 th September, 1982 inclusive
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    • 223 11 The supreme book on strategy... If you have wondered how it is that the Japanese can cleave through Western business communities like a samurai sword through butter, the answer lies not in more robots on the factory floor or company singsongs at 9 am. It lies in A BOOK OF
      223 words

  • Chief Price Changes
    • 155 12 Rises Indices Taaek Cement C Sugar* Int Wood 865 1120 55 50 Sep 30 Oct 1 250 32 BT Indicator: *****6 *****5 Metro Hldga 830 10 ST Industrials: 662.58 658.97 M Resource* 201 8 ST Finance: 1543.81 1537 53 UPP Pan-El O C B C 124 226 775 7
      155 words
    • Article, Illustration
      179 12 IN SPITE of weaker overseas markets, investors aad speculators provided some significant baying support on tbe Stock Exchange of Singapore yesterday, after a weak opening. This was reflected in the recovery shown by the Straits Times Industrial Index, which finished a marginal S.CI points lower at <58.f7 after
      179 words
    • 50 12 FINANCIAL TIMES INDUSTRIALS Thursday 578.1 Wednesday 581.1 Week Ago 577.2 Friday 862.08 Thursday 927.18 Week Ago.— 1096.36 AUSTRALIAN INDUSTRIALS DOW JONES AVERAGE INDUSTRIALS Thursday 898.25 Wednesday 906.27 Week Ago 925.77 Friday 643.4 Thursday 644.1 Week Ago 657.2 ALL ORDINARIES Friday 500.4 H.K.HANG SENG Thursday 503.2 Week Ago 521.1
      50 words
  • 348 12  -  By CHOO AI LENG PAN Malaysia Singapore Holdings (Pte) Ltd (PMSH), a local associate of Malayan United Industries, has raised its stake in Growth Industrial Holdings to 13.47 per cent from 8.4 per cent to become the second largest single shareholder. An
    348 words
  • 331 12 COLD Storage (M) Bhd, the 65 per cent owned subsidiary of Cold Storage Holdings PLC of UK, has reported slightly higher earnings for the six months ended July 31. The better first-half results has put it well on the way to achieving a
    331 words
  • 741 12 GOVERNMENT bonds fell up to H point on profittaking yesteray but equities rallied to end mixed, dealers said. At 3pm, the Financial Times index stood at 575.9, the highest level of the day but still 2.2 points below Thursday's close. Closing middle prices of selected stocks, excluding stamp
    741 words
  • 131 12 AP THE NEW YORK stock market gave ground yesterday morning, continuing the decline of the past two sessions. The Dow Jones average of 30 industrials, off 23.06 points on Wednesday and Thursday, slipped 0.19 oiints to 896.06 in the first half an hour. Losers held a 2-to-l
    AP  -  131 words
  • 259 12 HOLDERS of General Corp shares, who may not be able to register their scrip before Oct 6, will still be eligible to apply for the company's loan stock. It was earlier announced that application forms for the Msso million 10 per cent convertible unsecured loan stock
    259 words
  • LATEST
    • 46 12 haa reparted aa after- tax milt at MSIJ7 mIIUM (UM mIIUM prevtMsly) ar S3 «■to par (a Mate) far the year aM Jaae N. Directors have rceiaoieaM a Baal dlv Mead af 4« eeata per Aan (4i coats) mm payaMe aa Nav
      46 words
    • 48 12 haa re parted a pre-tax profit W M&njn (J7M.IM) (*r tke rix mwrti nM Jim M, I*B2. TV Mmpuy aU vakm there Is t HWutUJ Improvement Ln MHMflty prleea, It is udikeiy tkat the praflt far IK2 eu match that 9t last year.
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    • 26 12 bu reported a pwy leas if ($484,132) m tarsaver a( $3J3 mllttaa (14.27 mllttaa) far the tlx maatte eaded Jue SI, 1182.
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  • 278 12 THE consistently profitable Paper Products (Malaya) Bhd group has been badly hit by the recession with the result that it has slipped into the red for the first time in many years. PPM incurred a pre-tax loss of M 51.13 million for the
    278 words
  • 185 12 THE STOCK Exchange of Singapore has asked Rabins** ft Company Ltd to give the reasons for the operating loss of $313,000 incurred in the year ended June 30, 1962, when its group turnover dropped by only 2 per cent to $69.72 million. THE Kuala Lumpur Stock Exchange has
    185 words
  • 938 12 ■SHU 11 Companies Editor: Mano Sabnani UNITED Engineers (M) Bhd, crippled by massive losses, has taken several drastic measures to put the company back on its feet. As part of the group's rationalisation programme, following a recent study by a consultant firm,
    938 words
  • 219 12 MALAYAN Flour Mills' only 100 per cent owned subsidiary in Hongkong, Greenland Commodities Ltd, has now become an associate of the group. Yesterday, the company announced that Diggins Ltd, another Hongkongbased company with local and Thai interests, has agreed to acquire 45
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  • Page 12 Advertisements
    • 329 12 Britanniea 3 and[give yourself and your family the Britanniea advantage! it's the key to success in a competitive world That's why you should give your child all the advantages you can. Especially the tools for success. (That's what a parent's love and responsibility are all about.) Certainly there's no better
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  • Page 12 Miscellaneous
    • 54 12 OUTLOOK for today: Hazy and partly cloudy. Repert for 24 boors prior to 7JI pm on Oct 1 at the airport: Maximum temperature 31.2 Associated humidity 66 Minimum temperature 24.1 Associated humidity 98 Hours of sunshine 3.00 Rainfall in millimetres Trace Total rainfall for the month Trace Total rainy days
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