The Business Times, 24 September 1983

Microfilm: NL14166
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIM ES M.C.(P) No. 67/1/83 SATURDAY, SEPTEMBER 24,1183 60 CENTS
    11 words
  • Article
    Stage clear for petrochem complex start-up
    285 1 THE stage is finally set for the petrochemical complex to start operations next year. This follows Japan's agreement to raise the equity of the project. "Conversion of the loans into equity is the main factor necessary to boost the start-up of the project," said
    285 words
  • Article, Illustration
    Lock icon HK dollar and shares take another battering
    655 1 Agencies THE CRISIS of confidence in Hongkong deteriorated sharply yesterday as both the currency and the stock market crumbled. The Hongkong dollar plunged more than 40 cents to a new low of HK$B.65/70 against the US dollar after touching $8.80/90 while the Hang
    Agencies  -  655 words
  • Article
    SIA does not receive subsidies, says Hon
    451 1  -  By JOHN LIM FINANCE Minister Hon Sui Sen yesterday expressed surprise that some quarters are still accusing Singapore Airlines of being able to compete a little too vigorously because of government subsidies and low wages. "Government subsidies to commercial enterprises are taboo in
    451 words
  • Article
    West needs to create up to 20m jobs this decade
    251 1 WESTERN industrialised countries need to create 18 million to 20 million new jobs before the end of the 1980s to prevent unemployment rising further, and 15 million more to get it down to its 1979 level. The Paris-based Organisation for
    251 words
  • BRIEFLY...
    • Article
      Lock icon Consumer prices up
      69 1 Reuter AMERICAN consumer prices rose a seasonally adjusted 0.4 per cent in August after increasing the same amount in July, the Labour Department said. For the 12 months ending in August, the consumer price index rose 2.6 per cent. The August advance pushed the index for all
      Reuter  -  69 words
    • Article
      Lock icon Safer location
      68 1 UPI THE US presidential airborne command post, a specially designed Boeing 747 the chief executive would use in the event of nuclear attack, is being moved to a new location safer from Soviet missiles. The Washington Post reported the jetliner is being moved from nearby Andrews Air Force
      UPI  -  68 words
    • Article
      Lock icon Threat continues
      89 1 Reuter STRIKING public service workers trickled back to work in northern Belgium yesterday but the threat of a general strike which would include private industry hung over the French-speaking south of the country. The eight-day-old action in protest at government plans to cut pay and benefits as part
      Reuter  -  89 words
    • Article
      Lock icon Maximum wage rise
      58 1 Reuter AUSTRALIA'S Labour government, fighting inflation and unemployment, has succeeded in limiting workers' wage rrses to a maximum 4.3 per cent this year. The award ends a pay freeze imposed on the country's 6.2 million workers in December by the Liberal-National Party coalition, which Labour ousted in
      Reuter  -  58 words
    • Article
      Lock icon Economic growth
      104 1 AFP TAIWAN'S economic growth in the first half of this year reached 5.44 per cent and per capita income in the six-month period was equivalent to US$l,l9O, the Cabinet reported. In an administrative report submitted to the legislative Yuan (Parliament), the Cabinet stated that Taiwan's economy had experienced
      AFP  -  104 words
    • Article
      Delivery as planned
      55 1 ALTHOUGH less than half the compressor stations on the SiberianWest Europe gas pipeline have been built, the line is capable of delivering as contracted. The Soviet Minister for Oil Industry Construction said in Moscow yesterday that 17 of the 40 compressor stations would be finished this year
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    • Article
      Lock icon Discovery denied
      76 1 UPI UNITED States search teams yesterday said they may have picked up new signals from the flight recorder of KAL flight 007 in the Sea of Japan but denied a Japanese newspaper report that the location of the black box had been pinpoint"During the past 24 hours, US
      UPI  -  76 words
  • Article
    Lock icon Riot police battle students in Manila
    301 1 UPI RIOT police swinging batons aad fobbing tew gas shells battled stadeats oaly eae Mock from the US Embassy ia Manila yesterday as mere than SJN yeaths, screaming "revolatlea, revolatlea", marched towards the US mlsslea to pretest the November visit sf President Reagaa. Sporadic
    UPI  -  301 words
  • Article
    US official says Singapore likely to retain GSP status
    501 1  -  By SOH TIANG KENG SINGAPORE stands a good chance of retaining its duty-free status for selected exports to America when the country's Generalised System of Preferences (GSP) is renewed. This assessment was given yesterday by Mr Wendell Gunn, special assistant and
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      237 1 BUSIER BETTER S E Asia 3rd International Exhibition of Machinery Materials for Packaging 9-13 November 1983 WORLD TRADE CENTRE ASIAPACK '83 An Interfama organised show Tel. *****12 tEMDB AUSTRALIA has virtually slammed the doors on foreign banks planning to open branches there Page 2 APPLE Computer is gearing up for
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      92 1 Join the big swing to Pinnacle 9 r r x «r y s If r. st A >— For golfers who strive for jj excellence 1 W the course, the swi to «Hm| The ball offers unsurpassed accuracy, distance and durability. W~ Pinnacle ball carries a no-cut Come, join the
      92 words
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      182 1 BUSIER BETTER S E Asia 3 r o intefiatcnal of P'inting G'actiic Arts Eauiomerit Suoc^es 9-13 November 1983 WORLD TRADE CENTRE ASIAPRINT '83 An Interfama organised show Tel: *****12 ASIAPRI International Banking Prbttems? Wfe have the solution. Hongkongßank has over 1,000 offices in 54 countries. A network of branches supported
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  • BANKING AND FINANCE
    • Article
      Lock icon Bank Bumiputra denies report of under-declaration
      227 2 Bernama Bank Bumiputra Malaysia Berhad has denied that it under-declared the amount of loans given by its whollyowned subsidiary Bumiputra Malaysia Finance to Hongkong property developer, Carrian Holdings. Referring to a newspaper report on the matter, the bank said in a statement on Thursday
      Bernama  -  227 words
    • Article
      Lock icon Thailand gets loans of 75.36bn yen
      184 2 Reuter THAILAND has received 75.36 billion yen in loans from the Japanese government and a loan syndicate of 13 banks. Thai Finance Minister Sommai Hoontrakul signed an agreement in Tokyo for a 67.36 billion yen 30-year loan for development projects with Japan's Government Economic
      Reuter  -  184 words
    • Article
      Fuji Bank's CD issue
      151 2 A NEW issue of US$2O million worth of floating rate certificates of deposit (FRCDs) was made yesterday by Fuji Bank's branch in Singapore. Lead-managed by merchant bank Samuel Montagu (Singapore), the three-year issue carries an interest of 3/16 per cent above the three-month Singapore interbank offered
      151 words
    • Article
      Canberra likely to disallow entry of foreign banks
      437 2  -  By SOH TIANG KENG THE new Australian Labour government under Prime Minister Bob Hawke has virtually slammed the doors on foreign banks planning to open branches there. This will dash the hopes of United Overseas Bank and Oversea-Chinese Banking Corporation which have
      437 words
    • Article
      Lock icon Free rate of peso to slide 13 centavos a day
      338 2 Reuter THE free rate of the Mexican peso will slide 13 centavos a day from its current 148.35 to the US dollar, effective yesterday. The Bank of Mexico said the move is aimed at preserving the 14 per cent differential
      Reuter  -  338 words
    • Article
      Singapore market
      530 2 THE DOLLAR weakened against most major currencies except the Singapore unit on the local foreign exchange market yesterday. The market was dominated by sellers of the American currency, but against the local unit, suspected intervention by the authorities led to a firmer US dollar. Opening at the day's
      530 words
    • Article
      Hongkong
      107 2 THE Hongkong dollar yesterday extended its losses to a new low of 8.70/75 to the US unit in thin business Just before the close, compared with 8.60/67 in mid-after-noon. The trade-weighted Hongkong dollar index reached a record low of 62.7 after a record fall of two points from Wednesday's
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    • Article
      PLR
      22 2 THE average rale at which major Singapore banks are currently prepared to lend to their best customers is 9.04 per cent.
      22 words
    • Article
      ASIAN $ RATES
      179 2 ASIAN RATES ASIAN currency deposit interbank rates as at 5 pm on Sep 23: U8 Dollar* Offtr Bid 7 days 9 13/16 911/16 1 month 911/16 9 9/16 2 months 9* 9H 3 months 9H 6 months 915/16 913/16 9 months 10 3/16 101/16 12 months 105/16 10 3/16 Dm».
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    • Article
      Discount
      43 2 RANGE of prices offered by discount house* on Sep 23: Overnight: 3 Call deposits 2-3 Ctostaf Bayimf 8«lli*j 3-month Treasury UUa 211/16 29/16 3-month Bank bills 7 5/16 73/16 3 months CD 6* 6H 6 months CD 7 Source: National Discount Company
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    • Article
      Treasury bills
      48 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Sep 27 to Sep 30: Offend: $150,000,000 ApptM f»r: $233,820,000. Allotted: $150,000,000. Aeeeptod Ms: $99.34 approximately 85 per cent: higher bids in full. Average rate «f dtawut alMaeat: 2.640 per cent per annum.
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    • Article
      Gold
      282 2 GOLD futures in Singapore yesterday firmed in the late afternoon on renewed buying interest following the metal's firmness in Hongkong and in early European markets. Trading was active compared with recent days with turnover rising to 302 lots, including 96 kerbs, against 209 lots, including 76 kerbs, on Thursday.
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    • Article
      Silver quotes
      33 2 New York 11.823 11.86B Zurich 11.87S 11.SIS 11.82B U.90B U-8TS U.95S Singapore An 11 JOB Wai U.86B u.rs u.sas Closing price* In US dollars a troy ouno e. Source: Credit, S`pore
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    • Article
      London
      220 2 THE DOLLAR came under heavy selling pressure at the opening yesterday in reaction to Thursday's strong demand at the US Treasury auction of 20-year bonds and expectations of a decline in the US money supply figures due yesterday night. After opening lower at 2.6642/52 marks compared with 2.6790/6800 on
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      772 2 n f mum I ■te V V <u A *S LM l -J3 '-•VI -> >T A r.\v rTfi The Times Inter-Business Houses Athletics Meet 1983 Where Spectators Win Prizes Too! Mafca a date with Tha Time* Intar-Buainaaa Houaa* Athletics Maat and hava a aupar a porting Saturday evening and
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  • TRADE AND INDUSTRY
    • Article
      Apple gets ready to confront IBM here
      646 3  -  By LEE HAN SHIH APPLE Computer is gearing up for its first head-on confrontation with IBM in Singapore. The company, in conjunction with its regional distributor Sime Darby Systems, is launching a major promotion campaign here. Sime is also setting up a computer
      646 words
    • Article, Illustration
      Horses worth $500,000 flown in
      153 3 A SPECIAL charter flight loaded with almost 1500,000 worth of racehorses landed at Singapore's Changi Airport recently. The 18 horses, most of them two or three year olds were bought by Singaporean owners in the UK and flown here on board a specially equipped Boeing
      153 words
    • Article
      Hong Leong offers fully-furnished flats
      489 3 BUY a condominium on the West Coast of Singapore and get $50,000 worth of furnishing free. Buyers of the four-room units of Parkview Condominium do not have to worry about renovation too. All the furnishing living room sets, dining room sets, tables, beds, shelves, refrigerators,
      489 words
    • Article
      MEMO PAD
      362 3 SEMINARS AND COURSES Oct 3-4: Executive Skills for Top Secretaries and Personal Assistants, Ming Court Hotel, Institute for International Research Oct 3-5: How to Prepare Effective Marketing Plans, Holiday Inn Singapore, Frank Newman Associates Oct 3-7: Systems Development Audit Workshop, The Arcade, I/ACT Pte Ltd Oct 4-5: China
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    • Article
      HDB will invite applicants to choose own units
      440 3 TO SPEED up the allocation of flats, the Housing and Development Board will hold selection exercises in addition to its usual method of balloting. This means that some applicants will be given a chance to choose the flat of their choice, a
      440 words
    • Article
      Productivity congress to focus on training
      210 3 THE second National Productivity Congress, to he held on Nov 10 and 11, will be based on the theme "Training Strategy for higher productivity". This was announced by Mr David Ang, divisional director of training at the National Productivity Board (NPB), at a press
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    • Article
      Steamers enters into agreement with Pearl Cruises
      319 3 TWO CRUISE epemtoi have decided that the geia weald he a let smoother they sailed together. Straits Steamship u noaaeed yesterday that I has entered into a market lag aad operating agree •neat with Pearl Cruises o Scandinavia. Steamers operates th "Princess Mahsarl"
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    • Article, Illustration
      TRADE TALK
      402 3 TIGER lager beer, a premium brew by Malayan Breweries Ltd (MBL), has won another two golds at the Monde Selection or World Selection 1983. Tiger lager was awarded gold medals in the bottle and can categories. These are the seventh and eighth golds won by the company for
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    • Article
      Reagan aide says NEP may discourage investment
      368 3 MALAYSIA'S new economic policy, in requiring foreign investors to take up minority equity shares, might discourage potential investment from businessmen who wish to protect their industrial property. Mr Wendell Wilkie Gunn, Special Assistant to US President Ronald Reagan, said this was a factor
      368 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      188 3 In the middle of an ocean In the middle of an island An Orchard awaits you PHASE 1 NOW OPEN. including 120 rooms, 2 restaurants and 2 bars Soaring 19 storeys high on a cliff overlooking its own blue-watered bay. The Orchard Penang island's newest hotel is now accepting reservations.
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  • OVERSEAS
    • Article
      Lock icon Violence in Philippines causing concern in US
      596 4 Agencies THE growing violence in the Philippines is causing disquiet in the United States. As opposition to the government of President Ferdinand Marcos intensifies, so has anti-US sentiment. The target of anti-Ameri-can feelings is the two giant military installations Clark Field air base
      Agencies  -  596 words
    • Article
      Lock icon Opposition warns of anti-US rallies
      594 4 Reuter OPPOSITION leaders in Manila plan to hold anti-American demonstrations against President Reagan if he goes ahead with his planned visit to the Philippines in November. Salvador Laurel, president of the 12-party opposition coalition known as the United Nationalist Democratic Organisation (Unido), said Mr Reagan
      Reuter  -  594 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      691 4 ARRIVALS Service Local Operator Number Time From SIA SQU 0010 LAX/TYO PAA PA5 0015 JFK/SFO/HKG FT FT71 0040 JFK/ORD/ANC/ NRT/TPE CAL CI331 0150 TPE BA BA12 0150 BNE/SYD/ADL MAS MH601 0820 KUL CV CV796 0900 LUX/AUH MAS MH671 0905 KUL MAS MH811 0910 PEN SIA SQ103 0945
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    • Article
      Lock icon Tokyo may liberalise property market further
      262 4 FT TOKYO to considering dismantling the remaining regulstlsus governing fsreign investment in Japanese real estate. Propssais to this effect may be included in next math's premised package, the purpose sf which is to redsee internstlsnal trade Crletton by opening the Japanese market farther to
      FT  -  262 words
    • Article
      Lock icon Call for more world economic cooperation
      448 4 Reuter FINANCE ministers of the 48-nation Commonwealth have called for more international cooperation in economic problems, stopping short of recommending a new international conference to reform the world financial and trading sysi terns. A communique issued at the end of a two-day meeting in
      Reuter  -  448 words
    • Article
      Japanese accused of price cutting
      208 4 INDUSTRIAL valves made in Japan are being sold in the US for as much as 95.7 per cent cheaper than in Japan. Eleven American companies said yesterday that they had asked Washington to impose special duties on the imports to make up the difference in
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    • Article
      Lock icon UAW scores victory at GM Toyota venture
      362 4 FT THE United Auto Workers (UAW) union has won its first victory in a Japaneseowned US automotive plant with an agreement to represent the 2,500 workers at the planned joint manufacturing venture between General Motors and Toyota in California. In two previous Japanese
      FT  -  362 words
    • Article
      Lock icon US desire to sell arms to Beijing
      398 4 UPI UNITED States Defence Secretary Caspar Weinberger left Honolulu yesterday on a two-week trip to Asia and expressed willingness to sell high technology weapons to Beijing, a move that would open a new era in Sino-American relations. "We don't have any desire to
      UPI  -  398 words
    • Article
      SHIPS IN PORT
      1046 4 RECEIVING OF EXPORT FCL CONTAINERS AND LCL CARGO Ship Thana Bhum Prase tla Axel Maersk Cecllle Maersk E Handsome Khud Pakhomov PTaft Sea Fortune As Progress Tambang VII As Pallas Sea Glory Zlm Melb Leise Maersk Orient Mam N Zircon Khud Saryan E Guard B Butang LSlrl
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    • Article
      Lock icon Bid to modernise China's economy
      143 4 AFP CHINA Resources Co, Beijing's trading arm in Hongkong, has set up a new company to hunt for advanced machinery and equipment to modernise China's economy. A CRC spokeswoman said yesterday that the recently created CR Artland Co, a multi-trade corporation, will develop trade ties
      AFP  -  143 words
    • Article
      Lock icon Leaders discuss productivity problems in US
      402 5 UPI BUSINESS leaders from across America have unveiled their blueprints for competition with Japan and other countries "that are destroying the living standards of our industrial cities". Executives from business and labour sectors as well as researchers from academic institutions were Joined by President
      UPI  -  402 words
    • Article
      Lock icon American machine tool sector slipping
      278 5 Reuter THE US machine tool industry has lost ground to foreign producers, particularly the Japanese. The International Trade Commission, in a report assessing the competitiveness of the US industry, said yesterday that US production of metalworking machine tools rose to US$5.l billion in 1981 from
      Reuter  -  278 words
    • Article
      Lock icon Liquidity problem for IMF may go on
      664 5 Reuter THE International Monetary Fund faces serious liquidity problems by April 1984 unless it obtains new cash from quotas and borrowing, according to a report prepared by one of its directors. The fund's uncommitted resources, which in July this year stood at 6.8
      Reuter  -  664 words
    • Article
      Fairchild to launch first space factory
      165 5 A US corporation announced it would launch an unmanned space platform in 1987 which could provide the first factories in space for pharmaceutical and hightechnology manufacturers. Fairchild Industries said in Washington it would launch the US$2OO million satellite in cooperation with the National Aeronautics
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    • Article
      Lock icon Senate votes to slash contribution to UN
      328 5 AP THE US Senate, ignoring pleas by its own leaders that it would send the wrong signal to the world at a time of high international tension, voted 66-23 on Thursday night to cut drastically America's contribution to the United Nations. The cut
      AP  -  328 words
    • Article
      Lock icon How to give presents in the business world
      468 5 NYT THERE is a lot more to gift giving than meets the pocket book. So says Dr Kathleen Reardon, an assistant professor of communication sciences at the University of Connecticut. Dr Reardon, who did a pilot study of international corporate practices In
      NYT  -  468 words
    • Article
      French jets hit positions behind Syrian lines
      183 5 FRENCH fighter Jets Masted hestUe artillery pealtlsas behind Syria* baea la Lehanoo aa Wednesday, the first sach actlaa by the ijmstraag maltlastlaasl peacekeeping farce. There waa aa immediate Syrlaa reacttaa ta the air strike by Saper-Eteadard fighters. Bat Damaaeaa said aa Satarday it
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    • Article
      Lock icon SEC eases ruling on disclosure of information
      459 5 NYT THE US Securities and Exchange Commission has reduced the amount of information about management compensation that companies must disclose. By a vote of five to zero, the SEC decided that publicly-held corporations must continue to report the cash compensation of senior officers
      NYT  -  459 words
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  • Article
    A gift that never fails
    522 6 IN AN increasingly complicated world, experts proliferate. So it is not surprising that the art of giving too has become the subject of study by a professor of communications sciences. People such as Dr Kathleen Reardon has discovered that "gifts are really a form of
    522 words
  • Article, Illustration
    Mr Rich: the man in the middle
    1094 6 IT WAS Marc Rich who was indicted by a Federal Grand Jury in New York this week in America's biggest ever tax evasion case but also on trial will be the strict secrecy laws of Switzerland's banking system. American lawyers conducting the case
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  • Article
    Lock icon Gulf war shows signs of heating up into fourth year
    784 6  -  By JOHN ROGERS Reuter THE Iran-Iraq war entered its fourth year this weefc and so far the world has learned to live with it. But there are signs that it could escalate. Concern is focussed on French plans to supply
    Reuter  -  784 words
  • Page 6 Advertisements
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      210 6 OUT NOW! From Lloyd's of London Press The Times Organisation L\o>o Sin The most ambitious and comprehensive guide to the Port of Singapore, ever published 4 Sections 430 pages. Ssso/- a copy Po«t and packing free, anywhere in the world Main Features Detailed illustrations of the port area, terminals, wharves,
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  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      863 6 SINGAPORE 5 12.55 PM Operant folowed by Sesame Street: We learn the letters M and N and the number 3. 1.55 Doctor Souffles Cartoon 2.25 Saturday Matinee From the Mned-up Fles of Mrs Basl E. Frankweler 4.00 Wimbledon Tennis Championships 19*3 Men's Doubles Finals (Part 1) 5.10 Anita Sarawak Show
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  • Article, Illustration
    Lock icon All-American welcome at Tokyo's Disneyland
    1162 7 NYT THERE may be no kimonos, but there are plenty of T-shirts with messages in English. Raw fish is scarce, but not pizza or fried chicken or other exotica. The twang of the shamisen is not to be heard, but the lines form at the
    NYT  -  1,162 words
  • Article
    STRAWS in the wind
    459 7 Enlightening talk for brilliant idiots A FEW "brilliant idiots" would have emerged from the Oberoi Imperial Hotel last night, if the speaker at a dinner talk organised by the National Productivity Association was successful. The talk was entitled "How to be a Brilliant Idiot" and the
    459 words
  • Article
    Getting round the worst of capital transfer taxes
    1142 7  -  EXPATRIATE INVESTMENT By DAVID YOUNG MY first article on capital transfer tax dealt with the question of domicile and how difficult it is to change it. Domicile is important in CTT planning because the tax is charged on gifts or transfers of
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      127 7 How to deal with everyday ailments. r f The next best thing to having a doctor in your family. The collected advice of a group of highly qualified and experienced doctors, presented clearly and concisely. How to give emergency first aid How to correctly identify symptoms and take the right
      127 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      770 7 CRYPTIC PUZZLE 9 Are forced to go into tennisplaying seriously (2, 7) 10 Wu unstable, one understands, and afraid (8) 12 He writes about love, dear (4) 13 Cook has rabies? Ridiculous' 14 The diversion over, I am by myself (7) 15 Used long words' (6, 3) IT Fly back
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  • Page 8 Advertisements
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      324 8 Where to wine, dine and entertain AMERICAN! ■EXPRESS with the American Express Card If you don't already have the Card, call *****33 for an application form" "Let's ha mva OOi this Sunday" "Daddy, what's Nonya food?" "Nonva f<*xl is a creative cuisine developed by the early Straits settlers. It uses
      324 words
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      Page 8 Advertisements Column 2
      182 8 fi* (JUm JAPANESE RESTAURANT For sushi. For teppanyaki. For other authentically Japanese delights. < J/Vfl il'i.'H IHi u >r, ■> j) it, t> ;•>(»/) jo iOj, for rescrratint]s i f call A j j «'i it r\ I'j i I'k *">11« »rs n< >■ i i ii >« The Bali
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      Page 8 Advertisements Column 3
      233 8 rsm m #> fctendS Singapore's latest to good food and cosy surroundings. Special servings are set for breakfasts, luncheons, dinners and late night snacks a wide selection of Oriental and Western fare. Cafe Vanda your haven 24 hours a Oay Pdrornount Hotef Marine Parade Road. Singapore 1544 Tel: 344 5577
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      Page 8 Advertisements Column 4
      209 8 Adifferent buffet everyday towhet jair appetite. M J cKi fUffOtWK U9T- *T1 Ordinal fjtf CJrfyckM&oi/xwi rtfKr.iar fun* rwjof BrmcJt wjaet fyeTiwer %Met Ct!ZJ*HAXSL w#Ul One of the biggest choices anywhere. Plus the Winery, Patisserie. Home-made ices. Real Italian Espresso. Luncheon Buffet: Daily 12 noon 2.30 pm. Dinner Buffet: Daily 7
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      Page 8 Advertisements Column 5
      198 8 Our newly extended Coffee Garden is now better than ever. Whether you have an appetite for local or continental food, you 11 find our staff friendly and efficient, our food appealing and delicious. Try our famous claypot specialities, Hainanese chicken rice and other dishes. For reservations, please call *****22 ext
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  • RAW MATERIALS
    • Article
      LONDON MARKETS
      892 9 COFFEE: Robusta coffee futures yesterday moved irregularly up to midday with commission house buying being met by profit-tak-ing and some hedge selling. The Nov position traded between £1,751 and £1,761 a tonne before yesterday morning business at £1,756, up £8 a tonne from Thursday's close. Turnover totalled 1,056
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      RICE
      336 9 SINGAPORE: Yesterday's closing prices in St per kilo, ex-godown: THAI WHITE: 100 per cent first class (Kangaroo) new crop 1.05, 100 per cent second class 0.78, 100 per cent third class 0.76, 25 per cent new crop 0.58, B-10 per cent 0.70. THAI BROKEN: A-super 0.61. Special 0.55. THAI
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    • Article
      PALM OIL
      147 9 THE Malaysian crude palm oil market yesterday closed lower in quiet trading, after prices moved erratically amid uncertainty on the Chicago soybean complex. Oct deliveries in the south lost Msls to M 51,345 a tonne while central eased Mss to M 51,350. Refined market prices increased on Indian
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      RUBBER
      243 9 THE RUBBER market in Singapore yesterday closed higher with October One RSS buyers quoted at 232.50 cents per kilo, up three cents from Thursday. The morning session was marked up two cents on weekend covering interest and speculative buying after a higher opening. Levels improved further in the afternoon
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    • Article
      CLOSING PROCES
      27 9 232.50 cents (up 3.00 cents) Malaysia: October 254.50 cents (up 2.00 cents) Tin: M $30.01 per kilo (up four cents) 205 tonnes (up 75 tonnes)
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      RAS PRICES
      315 9 RAS prices In cents per kilo yesterday Noon (per kilo) Buyers Sellers Int. X R S S prompt f.o.b. 230.50 231 50N Int. 1 R.S.S October ***** 232 00 Int. 1 R.S.S. November 232.50 233 SO Int. 2 R.S.S. 224 25 226.25N UK/Cant 223.25 225 25N Int. 3
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      SSR and SMR
      116 9 NOON SSI ud SMR prieo ywterday f EA8 October Nov.. bar (Carr.al Mtk) (forw.rd Mtkl SSR 20 (lto. paitei Bujtrt Milan Bijr.n 1 i«l).ra t) 196.00 198 00N 1*7.00 *****N SSR SO (1-laa ptlWl t> ***** 196.00N 196 00 197 00N MBKLB October NMM •bar SMRCV SMRL
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      Straits Tin
      80 9 THE Straits tin price in Penang yesterday rose another four cents to M53«.1l a kilo, bnt remained within the ITA lower range of M 529.15 and M$32.K. Despite higher turnover, sentiment was aided by gains in London. The buffer stock manager again took most of the disposal with
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      Rubber prices finish weaker
      285 9 SIMILAR conditions as the past few weeks were experienced last week, causing RSS One to fall to 226 Vi cents (S) a kilo. Holiday, CaUer, Bath A Ca said in its review of the Singapore and Malaysian rubber markets for the week ended Sep 22. On
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    • Article
      Produce exchange
      158 9 CHINESE Prtliee Exekaage, Singapore, closing prices per lMkg yesterday. Ceeanat all: Bulk fob $178.00 sellers, old drum (In second hand drum) fob $191.00 sellers, new drum fob $195.00 sellers. Cepra: Mixed (loose) $110 buyers. Pepper: Muntok white pepper fob Asta NLW $340.00 sellers, Sarawak white pepper faq fob
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    • Article
      TEXTILES
      139 9 YARN and cotton prices were quoted as follows in Hongkong yesterday. (In HK dollars, spot ex-go-down) Ctttea yara: China Blue Phoenix 20b 2,680 32s 3,660, 40s 3,800 (per bale of 400 lbs). Paktotaa raw mttw: LSS 6.70, 4F 6.50, 289F 6.90; NT roller ginned 6.70 (per lb). CLOTH in
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  • INTERNATIONAL STOCKS
    • Article
      Paris
      184 9 SEPT 22 rn GROUP B CORBEILLE Alr-Uqulde 482 B 8 N Oenrals Danone ltas unch uncb Carrefour 1370 Financier* de L"Union 73 l*far«e ago Moet-Henneasy 1166 Opfl-Partbaa 136.10 unci -•-Oil 03 6 CI# rrancaue lauo ■u Penarrojra 4630 Radlotechnlque 406 -1.7 -a daa FWroles Credit Poncier De Prance Hulxtle
      184 words
    • Article
      Frankfurt
      81 9 SXPT B Dm Hoechtt am Aas-Tttefunkra RAllF SO JO 147J0 -14 •u Ho<wch Horun Kvstadt MJ» 1MJ0 as&oaB 04 BI2W 147.10 379 JO -u -U KHD I 'idf 340.00 -I CamnMntaok Conu Oumml 10.00 108.80 -ai PnuMi ZZ moo 2M30B -0.8 Dtlmlar-Bani ***** -l Rn 8T A la&oo -OS
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    • Article
      Brussels
      90 9 sept a m N FORWARD MARKET Or Bru Lamb Hofcofc P»tro Ryl Dutch 2310 *180 SOTO MOO 60 60 27 -60 A ear 628 Sldro 1770 ArtMd Astur ISO 542 10 20 i. Soc Q«n Bete Softut 1960 S010 70 +125 Braac«n Can pur Cock De Baers Ebea Ktoctrobcl
      90 words
    • Article
      Amsterdam
      179 9 8XPT n ru nxi moo -01 ARM Ahold ***** 178JO -1 SJ KLM Meneba Nurdtn Ntuonml Ned Nedlloyd Nmb Oct Orlnten Otnmeren Pkkhoed Pkrtsbu P»ch Philip* Rebeco Rot* n to Rodunco Rollnco 148.50 50JO -1J -0J Akao AMKV Amlu Amrobtu £3~ Boll 79.10 mw 90J0 S2J0 >00 0J -0-5
      179 words
    • Article
      Milan
      103 9 SEPT 22 Lire Medio banc* ***** 300 M llano An Ort ***** 101 ButOfl Bel 220 4,25 Moodadort PrW 2606 -52 ***** 700 Montedison 201 •15 Central* Ort 1M0 +2 Olivetu Ort 3360 110 Cond Acqua Rom; ft 1M Pirelli And C 2615 -36 Ertdanla asio unci) Pirelli Spa
      103 words
    • Article
      Zurich
      194 9 8 KPT S Francs Sacdoa Ret 2310 10 Actions Sulawt Sulser Pc aw unch AluauksM Br. 1 no -10 Sulaer Ret 9vis* Bank Br 1500 -10 Alusulsa* Dm Brown Bonn Br. Cite Ottgj Br. 256 -1 an unch 1900 IWO 10 Swlaa Bank Corp ■j 233 •I Clba Oelt7
      194 words
    • Article
      New York at record high
      992 9 A RUSH OF institutional buying in the technology group pushed the stock market higher on Thursday, with the Dow Jones Industrial Average closing at a record level for the second time this week. The DJ Index, which on Tuesday closed at a record 1249.19, rose
      992 words
    • Article
      TORONTO
      199 9 SEPT a CS Ability A lean Aiftxna Bank Mori Bank Nora ScoUa Ball Tal BP Can Ltd Braacan Camp FUd Lake Can Imp Bk Can Pnn M| Cinptc Carting OKecfe Cmbl Rd Lk Cn Bttirt CT A Comlnco Com» Marbcnor Dankoc Deniaon IRilnKxa?®! 11 1! 11 1! f I
      199 words
    • Article
      JOHANNESBURG
      280 9 SEPT 32 Rand industrials A Alpha Abercom AE And CI Amyop Barlow* C O Smith CNA Currte Finance De Been Ind Edcon Ed (ars FMVolh rutit Oratemn Hlveld Ub Holds Lonrho LTA M And R McCarthy Metal na Metbox Nam pal OIL Ok Bai Pep *00 r» HO 430
      280 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      6 9 See page 11 for Asian stocks.
      6 words
    • Advertisement
      Page 9 Advertisements Column 2
      467 9 f IC TIMES CONFERENCES Presents A TOP-LEVEL CONFERENCE ON INTERNATIONAL FINANCE 20 21 October 1983 SINGAPORE CONFERENCE CHAIRMAN Mr K (i K MaeLennan, Managing Director, Standard Chartered Merchant Bank Asia Limited THIRD WORLD DEBT AND ITS IMPLICATIONS FDR THE GLOBAL FINANCIAL S\STEM Professor l/f Son \nn IMfwMr School of I'ostc.-adoaU-Management
      467 words
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  • Article
    BUSINESS DONE ON THE SES AND THE KLSE
    2913 10 BID and offer prices officially listed and busiiwas in and reported to the Stock Escfcaagc at Singapore yesterday with the number of shares traded shown in brackets in lots of 1,000 units unleas otherwise specified All Times Settlement Contracts are quoted after
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  • Article
    SHARE INFORMATION
    3543 10 Gr*» Gr'» Net 1983 Last Div Div YTd P/E Vol Day High Low Company Sale or- CVr (•000) High Low SECTION ONE INDUSTRIAL COMMERCIAL 286 235 Acma 240 7.5 3.1 200.0 354 148 Alcom 273xd 1 5.0 33 13 24.1 58 277 273 207 148 Allied Choc 235
    3,543 words
  • Article
    In Kuala Lumpur
    2033 10 BID «ad otter prices officially listed and burin» tn and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of (hares traded *on in brackets in lots of 1,000 units unless other wine «rifled MXHIWAU A)nlists (4.125) (1) 4 08 (1) 4.10 AJesa (2 9SB
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  • Article
    Dow fuels early gains
    815 10 A RECORD high on Wall Street overnight led share prices to close higher on the Singapore stockmarket yesterday. Baying interest was most Intense during the opening half-hour bat there was profit-taking later In the day. lie Business Times Composite Index closed 1.48 points higher at M4J9
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  • Article
    Market finishes mixed in KL
    541 10 IN SPITE of intermittent profit-taking in the afternoon, prices managed to close mixed to slightly steadier on the Kuala Lumpur market yesterday. After opening mostly higher in line with a record high on Wall Street, prices continued to firm in early trading. But after teabreak
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  • COMPANY NEWS
    • Article
      North Borneo Timbers seeks diversification
      512 11 NORTH Borneo Timbers Bhd (NBT) is looking at opportunities for diversification in order to be less dependent on the vagaries of commodity prices and the weather. Disclosing this in his latest annual statement to shareholders, NBT chairman Nusli N Wadia notes that 1983 has been
      512 words
    • Article
      Unit trusts
      174 11 Mangers' prkx* tar 8«p 24 M ONOAFOBE UNIT TBUH The Commerce 3.45 3.87 The Savings Fund 1.90 2.11 S'pore Prog Fund 1.50 1.59xd S pore Sec. Fund 2-25 2.39 S'pore Invest Fund 1.15 122 S'pore Equity Fund 1.54 1.83 ASIA UNIT TBU8T Mai Invest Fund 2.90 3.07 Mil
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    • COMPANY MEETINGS
      • Article
        MALAYAN Credit Limited:
        31 11 Twenty-first annual general meeting to be held in the Mandarin Ballroom 11, 6th Floor, South Wing, Mandarin Hotel, Orchard Road, Singapore 0923, on Sep 24 at 10 am.
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      • Article
        MALAYAWATA Steel Berhad:
        31 11 Twenty-third annual general meeting to be held at the Negara Room, 2nd Floor, Lower Lobby, Kuala Lumpur Hilton, Jalan Sultan Ismail, Kuala Lumpur, on Sep 24 at noon.
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    • ASIAN STOCKS
      • Article
        Prices fall sharply
        373 11 HONGKONG THE Hang Seng Index yesterday fell 63.58 points from Thursday's close to end at 785.48, as stocks fell sharply across the board. This is the lowest daily close since Jan 6. Brokers noted increased selling in the afternoon when the Hongkong dollar touched an record low
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      • Article
        Sydney shares end higher
        316 11 AUSTRALIAN share markets yesterday edged upwards led by solid gains among some leading mining stocks and the banks. The All-Ordinaries Index was up 1.5 points at 708.0 near the close. Shares traded against the background of a new record on Wall Street, which boosted market confidence,
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      • Article
        Bangkok
        100 11 SHARE prices yesterday continued to improve at the Securities Exchange of Thailand as confidence prevailed among investors. SEPT S Batata Aokhtm ThU I SI li 1 1 1 unch ■ufot AjMdhAJt LM »i~ -1 «u l k 1 piHHB j 4t. O.TS 1 iDduitry Flnan/V /Ww Jtl*pr*Uun Omcnt Ma>xino|fhwm|
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      • Article
        Manila
        115 11 SHARE prices yesterday closed mixed on a turnover of 1.76 million pesos, up from 963,540 on Thursday. Trading remained dull on continuing political uncertainty. SEPT S Peao* Aco)« Mining Anglo PtiU Ap*i Mining B AUu Con 1 30 JO ■men Bagulo OoM Bute Petroleum um and) BwvnMt Con. B
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    • Article
      Lock icon Chrysler unlikely to pay common dividend this year
      347 11 Reuter CHRYSLER is not likely to rem me payment e( quarterly dividends by the end «I this year to holders tf Its llil aMtoa shares af Ntstoadtag eemmsa stock, Chrysler Lee laeeeea said. "Hopefully, It will seear la IM4 bat I wouldn't
      Reuter  -  347 words
    • Article
      Lock icon Opinions divided over outlook for US stocks
      716 11 ■ark»t Talk... IHT WITH the New York stock market touching a new high this week, the rarefied air has as many analysts dizzy and gasping for breath as those beady with optimism. A prominent sceptic is Morgan Stanley's John Mendelson, the firm's technical
      IHT  -  716 words
    • Article
      Lock icon American banks chafe at curbs
      567 11 UPI BANKS in the US have been buying brokerages to bypass a Glass-Steagall prohibition against buying and selling stocks and they are chafing to enter another arena that has been Wall Street's exclusive domain for 50 years. The 1933 Glass-Steagall Act also prohibits banks from
      UPI  -  567 words
    • Article
      DIVIDENDS ANNOUNCED
      924 11 Carraat Ex Inks Dale Tatal tar Tatal far ABN AIcmh PajrMt 13%1 Date NY A Que NY A Payable NYA the rear 13% Prevteaaj 26% 2h%l Sep 15 Sep 27 Oct 25 2Vi% 5% Alex HMga AauU Steel ®%<b) 6%TE(b) Sep 12 NY A Sep IK NYA Sep
      924 words
    • Article
      Lock icon Australian share market marks time but some brokers are hopeful
      498 11 Reuter THE Australian share market is marking time after outperforming most of the world's bourses this year but many brokers and analysts believe the bull run still has some way to goThe market, as measured by the key All-Ordi-naries share
      Reuter  -  498 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      197 11 Q Bousteadco Singapore Limited 1 (Incorporated in Singapore) TO ALL SHAREHOLDERS NOTICE OF EXTRAORDINARY GENERAL MEETING NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of the Company will be held at 12 noon on Monday, 10th October 1983 at the Company's registered office at 3rd Storey, Phoenix Building, 11
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  • Chief Price Changes
    • Article
      SINGAPORE
      170 12 Rises Indices M A A 1120 70 Mciltkib 360 40 Sep 22 Sep 23 Sel Coconuts S T P 1975 Prima 430 1100 655 40 30 30 BT Composite: BT Indicator: 942.91 *****70 944.39 *****28 CASH 50« 910 20 ST Industrials: 987.39 990.41 S N P L 550 20
      170 words
    • Article, Illustration
      KUALA LUMPUR
      160 12 Rises Indices M A A 1250 4-80 Sep 22 Sep 23 Inch KK 1470 60 Bedford 760 30 MBT Indicator: *****63 *****69 M Mosaics 900 +30 NST Industrials: 1375.69 1380.28 U Cables 540 20 NST Finance: 2648.87 2661.49 Norsechem 790 +20 NST Hotels: 662.48 661.99 Landmarks 380 16
      160 words
  • Article
    LATEST RESULTS
    144 12 HOTEL Mare* Pale Ltd has turned in an after-tax profit of $2.6 million ($3.7 million previously) for the first six months of this year. Its directors have recommended an interim dividend of two cents per share, payable on Oct 14. ANA Hotels Singapore Ltd made a net profit
    144 words
  • Article
    Lock icon Dow Jones higher
    130 12 AP THE New York stock market gained more ground yesterday morning, continuing the rally that has carried the Dow Jones Industrial Average to record highs this week. The average of 30 blue chips, up 14.23 on Thursday, rose 2.54 points to 1,260.06 in the first i half
    AP  -  130 words
  • Article
    Malayan Credit confirms sale of shares
    170 12 MALAYAN Credit Ltd yesterday disclosed that its director, Mr Kho Bak Weng, has sold 8.525 million shares in the company. The announcement by the property listed company followed a Business Times report that the Sindo Timber group, a major shareholder of Malayan Credit, had
    170 words
  • Article
    G Lumber buys forest concession for M$7.5m
    521 12  -  ■888 Ifano Sabnyi By LIM SOON NEO GENERAL Lumber (Holdings) Bhd, which has already bought logging rights to a forest concession in Ulu Kelantan, is now proposing to acquire another concession there. The company announced yesterday that it has concluded an agreement with
    521 words
  • Article
    Dunlop may sell more assets
    619 12 DUNLOP Holdings Bhd, in which Pegi Malaysia Bhd holds a 26 per cent stake, is considering further sales of its unprofitable assets which include the car tyre operations at Fort Dunlop and its tyre business in France. In addition, there will be further substantial asset
    619 words
  • Article
    LONDON STOCKS
    803 12 THE STOCK market closed quietly mixed yesterday, after prices drifted lower from a firm start on a lack of interest, dealers said. At 3pm, the Financial Times index was down 1.2 points at 706.9. Golds gained with the bullion prices. Closing middle prices at selected stocks, excluding stamp
    803 words
  • Article
    Selected Indices
    55 12 H.K.HANG SENG Friday 785.48 Thursday closed Week Ago... 916 11 AUSTRALIAN INDUSTRIALS Friday 872.4 Thursday 871.6 Week Ago 875.1 ALL ORDINARIES Friday 708.0 Thursday 706.5 Week Ago 716 4 FINANCIAL TIMES INDUSTRIALS Thursday 708 1 Wednesday 706.0 Week Ago 686 9 DOW JONES AVERAGE INDUSTRIALS Thursday 1257.52 Wednesday
    55 words
  • Article
    First-half earnings down 8.7pc at MPHB
    309 12  -  By NAJEEB JARHOM r MULTI-PURPOSEHoId--1 ings Bhd, the investment arm of the Malaysian Chi--1 nese Association, has still to reap the fruits of its rationalisation exercises, > judging from its uninspiring interim results. Group pre-tax profits fell 1 by 8.7 per cent in the
    309 words
  • Article
    Killinghall makes 1-for-1 rights to raise M$36m
    379 12  -  By CHAN OI CHEE KILLINGHALL Tin (Malaysia), which has acquired control of Southern Banking Bhd, is asking shareholders for more money through a rights issue. This latest fund raising exercise is the second in the month, after the company tapped US$5l million from
    379 words
  • Article
    Datuk Keramat group pre-tax profit up 35pc
    219 12 IN SPITE of a sharp 44 per cent drop in sales (to M 5242 million), Datuk Keramat Holdings' group pre-tax profit for the six months ended July 31 rose by 35 per cent to M 56.07 million. The turnover was much lower because
    219 words
  • Page 12 Advertisements
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      Page 12 Advertisements Column 1
      16 12 ANY OTHER BUSINESS. f. m m i ■Wilili W Ra i liHil?: ftiii SJvJg! v MEI
      16 words
    • Advertisement
      Page 12 Advertisements Column 2
      445 12 Offshore China '83 The 2nd Offshore Oil Exhibition 8- Conference November 22-26,1983 Guangzhou (Canton) China The Great Wall is not the only thing in China built with blocks: Offshore Oil China has begun awarding the oil exploration contracts on its 44 blocks and in the process opened up whole new
      445 words
  • Page 12 Miscellaneous
    • Miscellaneous
      Page 12 Miscellaneous Column 1
      65 12 OUTLOOK for today: Partly cloydy; showers in a few areas in the afternoon. Report for U hours prior to 7.31 pm oo Sep 23 at the airport: Maximum temperature 31 r Associated humidity 69 Minimum temperature 25 4 Associated humidity gQ Hours of sunshine 4 90 Rainfall in millimetres Nil
      65 words