The Business Times, 2 February 1985
1985-02-02
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The Business Times
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Title Section12 1985-02-02 1 BUSINESS TIMES M.C. (P) No. 99/1/85 SATURDAY, FEBRUARY 2, IKS 60 CENTS12 words
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Article459 1985-02-02 1 LIM SOON NEO - Vehicle sales fell by 20 per cent last year By LIM SOON NEO THE MOTOR TRADE has seen an overall fall of 20 per cent in motor vehicle sales by the 18 members of the Motor Traders Association. Combined sales of the association's members are459 words
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Article, Illustration510 1985-02-02 1 CHAN OI CHEE, JEFFREY TSANG - Ong Co sells Cecil Street building to bank for $69m By CHAN OI CHEE, JEFFREY TSANG ONG A CO has found a buyer willing to pay $89 million for its nine-storey building at Cecil Street, but even at this price, the brokerage group will still suffer a loss amounting to510 words
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228 1985-02-02 1 THE CHINESE Communist Party yesterday marked a significant step in its re-evaluation of its ideological pillars, with new criticisms of some aspects of Marxism and an attack on a "major fault" of Mao Zedong. An unsigned article in the latest issue228 words
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Article, Illustration90 1985-02-02 1 THE Stogapsre stock market took a breather yesterday after sharp galas la six eanseeatlve seastons that saw ai 8J per cent rise sf the Straits Times ladastrlal Index to 835.51 h Tharsday. Volame swelled to almest 25 milltoa salts yesterday becaase sf Strang institutional baying, the elssare sf90 words
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436 1985-02-02 1 BRIAN GOMEZ - By BRIAN GOMEZ OVERALL economic growth in the region was maintained at a steady pace last year, reflecting continuing world recovery, regional central bankers meeting in Kota Kinabalu said in a final press communique yesterday. The governors of Southeast Asian Central Banks436 words
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388 1985-02-02 1 FOO CHOY PENG - By FOO CHOY PENG AN APPARENT RISE in the number of workers being retrenched in the past few months has prompted the Ministry of Labour to keep a closer watch on the employment scene. The ministry has decided to reactivate on Feb 12 its388 words
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169 1985-02-02 1 NTUC secretary-genef-al Ong Teng Cheong has been appointed a cadre member of the National Transport Workers' Union. The appointment was made last week by the industry-wide union during its monthly executive committee meeting. Observers say the appointment paves the way for169 words
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Page 1 Advertisements
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Advertisement62 1985-02-02 1 MEDK ASA 85 Sponsor: SINGAPORE MEDICAL ASSOCIATION In conjunction with the Silver Jubilee National Medical Convention Organiser: ©INTERFAMA PTE LTD Tel *****12 Sole Agent far ASEAN countries STANLEY&CO(FTE)UD IM> Paya (char Road «*>-05 Yi Guang Building Singapore 1440 Tel: 74M*33 Cable "SPORTSTOC K" Tlx: R* ***** A B Showroom 81-B362 words
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Advertisement289 1985-02-02 1 \mm THE 300 TENANTS of OUR VIEW NORTH Borneo Timbers has Funon Centre in Hill Street wwn w ifc turned in better interim prewill soon be given o direct MANY developers ore not thrilled by Ng Teng Fong's consorti- tax profits of M 56.29 million line to bring their problems289 words
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Advertisement0 1985-02-02 1 ,{?~?<@*}!-+}_${/?>:>[~+,;._+?[0 words
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Advertisement195 1985-02-02 1 U 85 E Asia's 4th Int I Medical. Hospital Dental Equipment Technology Exhibition Conference 18th 21st April 1985 Dynasty/Hyatt Hotels Singapore Organiser ©INTERFAMA PTE LTD Tel *****12 Getting Good People &Keeping Them a pefs Guide The book offers a fresh, unique approach to management. To begin with, it is aimed195 words
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HOME NEWS
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496 1985-02-02 2 LEE HAN SHIH - URA member appointed full-time to help out at Funan Centre By LEE HAN SHIH THE 300 TENANTS of Funan Centre in Hill Street will soon be given a direct line to bring their problems and suggestions to their developer, the Urban496 words
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430 1985-02-02 2 IF THE FLATS are green, you must be in Yishun Neighbourhood two. If they are greyishblue, you are in Neighbourhood six. But if you see clay-coloured blocks, then you must be in Yishun Neighbourhood seven along Sembawang Road. Colour-coding, part430 words
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Article67 1985-02-02 2 DRAFT STANDARDS on school books and papers as well as glazing materials have been made by the Singapore Institute of Standards and Industrial Research (Sisir). The institute now invites comments from the public before the draft specifications are approved as Singapore Standards. The standard for school exercise67 words
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Article, Illustration529 1985-02-02 2 JEANS SUPPLIER Aeron Fashion (S) Pte Ltd is prepared to forgo business with its largest customer, Emporium Holdings, rather than face persistently late payments. Raising issues of "attitudes" in settling bills and long-drawn out efforts at seeming payment, Mr Joseph Quek, Aeron's managing529 words
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351 1985-02-02 2 THE Singapore Motorcycle Trade Association (SMCTA) plans to help learner motorcyclists pass their riding tests before the Oct 1 deadline. Under the scheme, two Japanese motorcycle riding instructors from Honda Motor Co will arrive tomorrow for a two-week stint to help set up351 words
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210 1985-02-02 2 THE Ang Mo Kio Driver/Rider Training Centre has been completed by the Public Works Department and will be handed over to the Ministry of Home Affairs today. It is situated at Ang Mo Kio Street 62. The centre is the first of its kind210 words
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329 1985-02-02 2 DIFFICULT business conditions have not deterred a Japanese manufacturer of industrial measuring instruments in Singapore from planning a paid holiday for about 200 of its staff. Yokogawa Electric (Singapore) Pte Ltd, wholly owned by Yokogawa Electric Works Ltd in Tokyo, will spend329 words
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462 1985-02-02 2 BRITISH COMPANY Fisons Scientific Equipment Division expects to increase its sales of laboratory equipment and instrumentation in Asean by more than 20 per cent a year. Mr JS Kerridge, chairman and chief executive of Fisons PLC, its parent company, said: "This region is462 words
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162 1985-02-02 2 A REVOLVING SECRETARIAT an informal structure for the exchange of news, ideas and technology has been established among instrumentation bodies in Asia. Mr C C Chin, president of the Instrumentation and Control Society of Singapore, said: "Our aim is to establish, in the near future, a162 words
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Article240 1985-02-02 2 THE US, West Asia, Europe and Australia have been identified as priority food and beverage markets for Singapore. Apart from identifying these markets for active promotion of food and beverage exports, the Trade Development Board (TDB) is also encouraging local companies to have joint ventures240 words
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185 1985-02-02 2 A NUMBER of venture companies from Kyoto are interested in investing in the high-technol-ogy industries of Singapore. The presidents of 10 small venture companies from the Japanese province have formed a mission to visit the Republic next week for a first-hand study of the185 words
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86 1985-02-02 2 SCREEN ADVERTISING rates for three key Cathay cinemas have gone up by 5-10 per cent. The high cost of acquiring quality English-language movies and "blockbusters" was cited as the main reason for the move by Media tech Services Pte Ltd, screen advertising agents for86 words
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181 1985-02-02 2 THIRTEEN claims, mostly involving the sale of goods, were filed yesterday when the Small Claims Tribunal started operations. From 8.30 am to 4pm yesterday, seven claims relating to the sale of goods four involving the provision of services and two classified as "others"181 words
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337 1985-02-02 2 AN ADJOURNMENT requested by a union representative, William Tan, to settle a wage dispute out of court yesterday failed to produce any result and the hearing ended with the Industrial Arbitration Court dismissing the union's case. At issue was the Racecourse General Employees' Union's337 words
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208 1985-02-02 2 UNION and management representatives involved in a NWC wage dispute yesterday were rebuked by the president of the Industrial Arbitration Court, Mr Tan Boon Chiang, for not being conversant with court procedures. The union representative was also rebuked for using the court as a208 words
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OVERSEAS
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492 1985-02-02 3 NYT AMERICAN economists still believe the economy is likely to continue to show solid growth this year despite the fact that the US index of leading economic indicators has fallen five times in seven months. The index, which is intended to predict theNYT - 492 words
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Article, Illustration177 1985-02-02 3 Reuter PRIME MINISTER Margaret Thatcher has said she does not want to see UK interest rates high, but that they would remain so as long as is necessary to protect her government's anti-inflation strategy. Clearing bank base rates have risen AVt points inReuter - 177 words
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421 1985-02-02 3 FT AUSTRALIA'S Labour government drew comfort on Thursday from consumer price index figures showing that inflation in the 12 months to last December was 5.1 per cent, the lowest yearly increase in 12 years. Inflation in the December quarter was 1.4FT - 421 words
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154 1985-02-02 3 AFP AUSTRALIAN Prime Minister Bob Hawke is expected to express the widespread concern of Australian farmers about the European Economic Community's (EEC) common agricultural policy in Brussels next week, observers say. Mr Hawke leaves Canberra today for Brussels for talks with the new European commissionAFP - 154 words
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WORLD IN BRIEF
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Article44 1985-02-02 3 ABOUT 3,000 US marines and navy personnel yesterday launched an 11-day military exercise in the Okinawa area. Navy officials said the goal of the 7th Fleet's "Valiant Usher '85" exercise is to "train in the landing, coordinating and conducting of amphibious operations".44 words
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Article67 1985-02-02 3 Agencies CHILE'S constitutional tribunal yesterday declared the leftist Popular Democratic Movement (MDP) unconstitutional in a decision made largely academic by the military government's ban on political activity. The tribunal's decision was in response to a petition from a group under an article of the controversial constitution approved byAgencies - 67 words
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Article73 1985-02-02 3 THE TOTAL foreign debt of the Philippines will soar to US$2B.7 billion by the end of 1906 due to new loans being secured by the country for its financial rescue scheme. The Bulletin newspaper in Manila said yesterday that the country's foreign debt stood officially at $25.6 billion.73 words
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Article64 1985-02-02 3 SOVIET troops killed a senior Afghan rebel leader when his unit was surrounded by a helicopter assault force in a village near the Pakistani border. Guerilla sources in Islamabad said yesterday that Qari Abdus Samad, the slain leader of the rebel group Jamiat e-Islami, was ranked second64 words
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Article99 1985-02-02 3 THE SOVIET UNION and Japan have reached agreement in Moscow on a new fishing pact only an hour before a temporary pact was due to expire at midnight on Jan 31. An official in Tokyo said yesterday that details of the new pact were worked out at a99 words
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Article57 1985-02-02 3 A PROTEST has been launched against China by the Moscow-backed regime in Kabul, accusing Beijing of joining the US and Pakistan in an undeclared war against Afghanistan. "The Afghan Foreign Ministry strongly protests to China over its involvement in the undeclared war and demands an immediate stop to57 words
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Article85 1985-02-02 3 US-VIETNAMESE talks on servicemen listed as missing in action (MIA) during the Vietnam War are expected to resume in Hanoi soon. Diplomatic sources said the talks would be held this month. Discussions on the MIAs, which began in 1962, were last held in October. Washington claims 2,49085 words
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Article95 1985-02-02 3 AUSTRALIA does not plan to lower its oil prices following Opec's decision to cut crude prices. Minister for Resources and Energy Gareth Evans said yesterday that there would be no immediate change to the country's import parity pricing (IPP) scheme or consequential changes to retail petrol95 words
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Article65 1985-02-02 3 JAPANESE oil companies intend to study the scope for using French technology in offshore oil search and extraction. Jacques Delacour, director-general of the Institut Francais du Petrole, said yesterday that convergent interests had emerged at a threeday seminar in Tokyo on French achievements in the sector. About 2465 words
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488 1985-02-02 3 Thousands of shops and financial institutions to be wired up FT BRITAIN IS LIKELY to become the first country with a nationwide "cashless" shopping system. The claim was made by leading banks and retailers on Wednesday as they announced a schemeFT - 488 words
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262 1985-02-02 3 Reuter THE UNITED STATES has warned New Zealand that defence cooperation could be compromised if a US warship visit was not allowed during Joint manoeuvres in March. "The denial of port access would be a matter of grave concern which goesReuter - 262 words
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235 1985-02-02 3 AP THE NUMBER af Japan's ■■employed warkers anauted to 2.7 per cent af the nation's labaar farce laat year, the highest since the geverameat began compiling «tatistks la IMS, the Maaagemeat A Coordination Ageaey nM. Mlkla Hayashl, aa affleial afAP - 235 words
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405 1985-02-02 3 Reuter AFTER California, Florida and Japan, Mickey Mouse is looking for a home in Western Europe which could be a new Disneyville" near Paris or a similar playground near Barcelona. Executives of the Disneyland Corporation seeking to expand their entertainment empireReuter - 405 words
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158 1985-02-02 3 Reuter EFFORTS to turn public enterprises over to the private sector in Asia have been hampered by lack of capital and managerial skills. The president of the Asian Development Bank, Masao Fuji oka, said privatisation offeredReuter - 158 words
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Article785 1985-02-02 3 ARRIVALS Operator Service Local time From RA RA408 0730 BKK/KTM MAS MH68I 0820 KUL CV CV796 0845 LUX/AUH KAL KE624 0850 KUL MAS MH603 0905 KUL sv SV378 0920 JED/RUH MAS MH67I 0935 KUL MAS MH8II 0940 PEN CAL CI806 0945 HLP RBA BU2 1 1000 BWN785 words
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743 1985-02-02 4 Arraignment paves way for Aquino murder trial AFP PHILIPPINE armed forces chief General Fabian Ver and 25 others accused in the Be nigno Aquino murder all pleaded not guilty at their arraignment yesterday, paving the way for the start of the trial nextAFP - 743 words
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200 1985-02-02 4 AP THE NUMBER of aircraft in the Chinese air force is comparable with those of the world's big powers. The official English-language China Daily newspaper in Beijing yesterday quoted Air Force commander Zhang Tingfa as saying: "We are stepping up ourAP - 200 words
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Article65 1985-02-02 4 AFP AMERICAN psychiatrists have called on their colleagues in South Africa to condemn that country's policies of apartheid racial segregation. The American Psychiatry Association has expressed its "concern about the mental health problems which result from discrimination" and said it was "more detrimental when practisedAFP - 65 words
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318 1985-02-02 4 NYT SOVIET LEADER Constantin Chernenko has said in written responses to questions that, if the US succeeded in developing a space-based defence system, it could upset Soviet-American accords and lead to "an uncontrolled arms race in all fields". The answers were conveyed by the SovietNYT - 318 words
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Article136 1985-02-02 4 Reuter BANGLADESHI President Hossain Mohammad Ershad has relieved five army generals of their key civilian duties as a part of his plan to end martial law and restore democracy. An official announcement said on Thursday the offices of five zonal martial law administrators acrossReuter - 136 words
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113 1985-02-02 4 UPI VIETNAMESE troops moved in yesterday on a Khmer Rouge stronghold, triggering fierce clashes that sent thousands of refugees fleeing to the Thai border. Thai military sources said the fighting opposite the border village of Ban Klong Haad, 55km south of Aranyaprathet, was too deepUPI - 113 words
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239 1985-02-02 4 UPI HONGKONG'S fight with the US over new American textile import restrictions reaches a crucial stage on Monday when trade officials for both governments open a new round of talks on the dispute in Washington. Pressure on both combatants is high asUPI - 239 words
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Page 3 Advertisements
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Advertisement10 1985-02-02 3 /W1 JV Pan Am.Dailv 747SPToUSA. Flies Smoother, Faster And Quieter.10 words
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RAW MATERIALS
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Article146 1985-02-02 4 Chines* Produce Exchange Robusta 20/25% FOB NSW Nutmeg 477.50 (Seders' noon closing pr« ces on Feb 110 FOB NSW 438.00 1SV100k 9 B W FOB NSW 281 00 Coconut oil Gombier 330.00 Buk FOB 160.00 FOB NSW Old drum FOB 173.00 New drum FOB 177.00 London Commodity Copro146 words
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Article291 1985-02-02 4 Singapore A-l special C-1 special C-l Ordinary Loonzain 100% 177 unq unq (SS/kito, ex-godown) Thoi white 100% 1st class first grade (kangaroo) new crop 100% second grade 225 096 100% third grade unq 100% 2nd class 100% 3rd class 070 0.65 Parboiled 5% 10% 227 222 25% new crop291 words
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Article44 1985-02-02 4 THE MALAYSIAN crude palm oil market was closed yesterday. LONDON US$/tOMW (sailors' closing prices on Jan 31 Sumatra 5% Jan 570.00pd Feb *****pd March 580 00slr April 570.00slr May *****sJr ROTTERDAM US$/tonn« (iiUin 1 closing pnc«>) Sumatra/M'sia 580 OOsIr Max 5 Feb44 words
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Article159 1985-02-02 4 Yarn (In HK$ per bole of 400 lb) China corded yarn, cones Bkie Phoenix 16's 2,900 Blu« Phoenix 20's 3,000 Blue Phoenix 32's 3,600 Blue Phoenix 40"s 3,850 Carded yarn, hank Blue Phoenix 21's 3,300 Combed yarn, cones Blue Phoenix 32's 4,600 Blue Phoenix 40's 4,800 Open-end yarn Blue159 words
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Article155 1985-02-02 4 SINGAPORE The market closed firmer yesterday with February One RSS buyers quoted at 166.00 cents per kg, up 1.25 cents from Thursday. The morning market gained 0.75 cents on some weekend covering interest in quiet trading. Prices rose further in quiet afternoon trading on continued weekend covering. TOKYO Futures155 words
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Article259 1985-02-02 4 RAS prices (in S cents/kilo, FOB in boles) NOON CLOSE Buyers Sellers Buyers Sellers Int 1 RSS Prompt 164 50 ***** 165 00 166 00N Int 1 RSS Feb 85 165 50 166 50 166 00 167 00 Int 1 RSS Mor 85 171 50 171 75259 words
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Article89 1985-02-02 4 Reuter THAILAND exported 62,309 tonnes of rice in the week ended Jan 29, down from 64,429 tonnes the previous week, the Thai Commerce Ministry said. It said the government and private exporters shipped 14,855 and 47,454 tonnes respectively, during the week. Private exporters signed contractsReuter - 89 words
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Article256 1985-02-02 4 NEARBY SOYBEAN futures on the Chicago Board of Trade lost ground after mid-session on Thursday and closed on a weak note, prompted by declines in soyoil and trade talk of better prospects for muchneeded rains in Brazilian soybean growing areas. Prices closed 3'/« US cents lower in nearby months256 words
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Article229 1985-02-02 4 WHEAT FUTURES on the Chicago Board of Trade closed IVi US cent lower to unchanged amid late profit-taking on Thursday, traders said. The most active March contract lost IVi cents to finish at US$3.5O 3 /4 a bushel. After mid-session, wheat traders sold contracts bought during advances on Wednesday229 words
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Article857 1985-02-02 4 COFFEE Futures edged ahead on Thursday afternoon on carry-over from a strong New York opening, but prices were mixed at the close. Contracts advanced steadily through the day from a weak opening and settled £13 ahead to £3 below Wednesday's closing bids. March settled at £2,365 per tonne,857 words
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Page 4 Miscellaneous
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Miscellaneous80 1985-02-02 4 Doonesbury excuse y&h,man. pout Me, PIP lASKBP GIVSIN YOU SAY IF YOU 70 HH SOMETHING HAP A BUPW! I TO MET Q6ARSTTB PONT IST ieee him push YOUR. YOU AROUNP! fWPON? FI6HTBACK! 7f» C m Va v/c. m V* S£Sn 9 r II a v BY GARRY TRUDEAU FIGHT BACK?80 words
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BANKING AND FINANCE
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348 1985-02-02 5 PENG AILIAN - By PENG AILIAN NEW HYBRID LOAN products have given the syndicated loan market a much needed boost in recent months and have provided borrowers with more choice than ever before. The new instruments also offer greater flexibility and better pricing than plain vanilla348 words
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Article112 1985-02-02 5 FT MIDLAND BANK, Britain's third-largest clearing bank, has launched a US$6OO million floating rate certificates of deposit issue in the Euromarkets, believed to be the largest of its kind. The five-year certificates, which bear interest at the sixmonth London interbank offered rate for Eurodollar deposits,FT - 112 words
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Article, Illustration572 1985-02-02 5 SOH TIANG KENG - By SOH TIANG KENG Banking Correspondent MORE well-known Japanese companies will tap funds from the Singapore stock market as the Republic develops into an international fund management centre. This is the forecast of retiring president of Daiwa Singapore, Mr Toshio Karigane, who said572 words
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315 1985-02-02 5 Reuter THE LONDON Gold Futures Market (LGFM), plagued by lack of support and interest since its birth, is to close down after less than three years in existence, the market's board said. The LGFM has suffered from problems of low volume and limitedReuter - 315 words
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450 1985-02-02 5 FT BRITISH monetary policy will be kept on a tighter leash, Chancellor of the Exchequer Nigel Lawson indicated on Wednesday as London's financial markets showed a burst of carnival spirit. Mr Lawson's speech, which disowned any previous-intention of shiftingFT - 450 words
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Article103 1985-02-02 5 Reuter US CREDIT MARKET pressures are likely to persist in the near term, given fears that the Federal Reserve is firming monetary policy, analysts said. Concerns about a possible shift to a more restrictive reserve policy were intensified on Thursday as the Fed chose not to add reservesReuter - 103 words
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248 1985-02-02 5 Reuter DOLLAR/YEN direct dealing, which started yesterday in Tokyo, is expected to increase trading volume gradually but to have little other market impact, dealers said. Bankers Trust Co vice-presi-dent Sigeru Nakayama said: "The market will become livelier, but there will beReuter - 248 words
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Article346 1985-02-02 5 FT THE BUNDESBANK, West Germany's central bank, lifted its key Lombard rate from 5.5 per cent to 6 per cent on Thursday as part of a package of measures designed to improve its opportunities for sophisticated management of the money markets. The moves hadFT - 346 words
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MONEY AND EXCHANGES
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Article819 1985-02-02 5 SINGAPORE The US dollar closed mixed against major currencies yesterday after fluctuating within a narrow range in thin and nervous trading. The dollar closed firmer at 255.65/ 75 yen compared with New York's 255.55/65 close, but lower at 3.1660/70 marks against 3.1680/1700 and at 2.6810/20 Swiss francs against819 words
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Article119 1985-02-02 5 THE OVERNIGHT rate on the Singapore interbank money market rose by 1/2point from Thursday to close at 5-1/4 per cent yesterday. The one, two and threemonth term rates rose by 1/8-point each across the board. S$ interbank rates at 3pm yesterday Offer Bid Overnight 5 1/4 5 1/8119 words
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Article215 1985-02-02 5 Interbank rates at 3pm on Feb 1 IT"— Local doMors to Of* unit of forct^n VMtadyot mntmy c fOM partly C,Wee currtncy: US doHor Sterling pound Australian dollar NZ dollar Canadian dolor 2.2105 2.4934 1.7949 1.0393 1.6672 2.2115 ***** 1.7968 1.0411 1 6686 2.8196 7 3469 3 4286215 words
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Article313 1985-02-02 5 BA Futures Inc EURODOLLAR futures came under heavy selling pressure yesterday as US money supply showed a higher than expected increase. The March contract broke through major support level at the bottom of the gap at 90.99 to the day's low of 90.94 before closing at 90.95. Currency futuresBA Futures Inc - 313 words
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Article188 1985-02-02 5 HONGKONG The metal closed slightly higher yesterday after a small rally in the tahil market which resulted from a weakening of the Hongkong dollar against the US unit. Gold finished at U*****.70/305.20 an ounce against an initial $304.30/80 and New York's $304.00/50 close. On the local market, it ended188 words
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Article, Illustration243 1985-02-02 5 Asian market ASIAN dollar deposit rates closed above Thursday's levels in fairly active trading yesterday. A larger-than-expected US$4.7 billion rise in latest US M-l money supply figures and a high US federal funds rate of 9 per cent underpinned rates. NNCATES Mm average of Mm print Mk| rates li 12243 words
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Article49 1985-02-02 5 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Feb 4 to Feb 8. Offered: $80,000,000. Applied far: $81,400,000. Allotted: $80,000,000. Accepted bids: $99.27 approximately 98 per cent; higher bids in full. Average rate sf dlsessst •a aUstmest: 2.925 per cent per annum.49 words
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TIME-OFF
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Article514 1985-02-02 6 THE OVERSEAS Chinese are well known for their relentless drive for fame and prosperity, especially in the face of adverse conditions. This admirable trait had helped to build Singapore, Hongkong and Taiwan into Asia's modern-day economic success stories. But admiration could soon turn into distaste in514 words
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Article, Illustration623 1985-02-02 6 JEFFREY TSANG - The Volvo 740 presents new chic with traditional comfort but not for the driver By JEFFREY TSANG SOMEONE called it hearse-like. But I thought the Volvo 740 GLE rather chic. Of course, there were the unmistakeably "Volvo" features the square-blocked, straight-lined body with the rectangular623 words
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565 1985-02-02 6 Ralph Culloden - letters to the Editor Ralph Culloden Mmglig Director CMftM Futures (Singapore) Pto Ltd DEAR SIR, As an active and concerned member of Simex, I felt it necessary to comment and reply to the many articles that have been written on the exchange so565 words
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WHAT'S ON
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Article126 1985-02-02 6 PIPE ORGAN recital by Edgar Krapp, Professor of Organ, Academy of Music, Frankfurt. His repertoire includes wellknown masterpieces. Besides playing Bach, the centre of all organ and harpsicord music, he also plays compositions of the 16th and 17th centuries. Tomorrow, Presbyterian Church, 7.30 pm. Admission free. CHAMBER music with126 words
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Article250 1985-02-02 6 AN EXHIBITION of the lives of the three masters of German baroque music J S Bach, G F Handel and Heinrich Schutz. Jointly organised by the Institute for Foreign Cultural Relations, Stuttgart and the Goethe-lnstitut. Feb 1-28, daily except Sundays, 12 noon-6 pm, Goethe-lnstitut Art Gallery. ART FORUM presents250 words
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Article154 1985-02-02 6 KIWI FILMS at the Hyatt Regency Singapore as part of New Zealand Food Week. Feb 4: Solo (95 mins). The story about the relationship between Paul, a fire patrol pilot, and Judy, a young Australian hitch hiker. Feb 5 and 8: Goodbye Pork Pie (105 mins) A kind of154 words
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Article163 1985-02-02 6 Ms Alice Giam - Ms Alice Giam General Manager UIC Management Services Pie Ltd a* agents DEAR SIR, We refer to your article in BT on Jan 31, entitled "UIC to spend $9m improving flagship building" and would like to bring to your attention the following: It is The Management163 words
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Article290 1985-02-02 6 STRAWS in the Wind CAPITOL cinema's billboards often unwittingly contain messages heavy with meaning for church goers of St Andrew's Cathedral across the road. Some months back, the baleful eyes of Conan the Barbarian fell on those who were leaving the church, as though reminding290 words
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Page 6 Miscellaneous
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Miscellaneous1173 1985-02-02 6 to obd mm HIGHLIGHTS Centrestage Footlight Frenzy 8.30 pm, Channel 12 A hilarious play-within-a-play performed by the Low Moan Spectacular Comedy Troupe. The play begins when a group of amateur performers decide to put on a show called "Tarnished Silver" to save the Rye School for Unusual Children from bankruptcy.1,173 words
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Miscellaneous40 1985-02-02 6 DO soo mQ=\N NOO PvCToRU_\( SfNU) T*4e GORGEOUS CUSS PReTTV OF OS**G> Tv-\\S $£,HCU?J See... sue usgd it to fill. wejfc. utoK< SiG>n! TO -Tv-MK swes VIeJLD TvllS *N V4ejß SOFT i>>»mL V*=SMD... SWH=MJ- £>"HQ roy tgp\ U*TH \T PsQaPMM40 words
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SPOTS
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Article, Illustration1218 1985-02-02 7 BRIAN MILLER - By BRIAN MILLER THEY SAY it takes a special horse to win any race beyond 2,200 m and that it also takes a really special kind of man to train a Derby winner. This is true and simply because this is a1,218 words
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Article949 1985-02-02 7 VmmI Barth Arrival Departure MARINA WHARVES KEPPEL WHARVES Equator III Frances Bay Katori Kinabalu Lapan Rajah Brooke Auby Este Gloria Langsa Lin Petaling Ned Nagoya Pearl of S'navia/P Pres Cleveland Watergeus 22 alongside 23/4 alongside 1 /2 alongside 29/30 alongside 21W alongside 20 2.2/1500 25/6 2.2/0700 31/2949 words
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Article189 1985-02-02 7 AP LANNY WADKINS' string of sub-par rounds came to an end in cold, howling winds and Johnny Miller took the first-round lead on Thursday in the 44th Bing Crosby national Pro-Am in Pebble Beach, California. "It was a tough, tough round of golf today," Miller saidAP - 189 words
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540 1985-02-02 7 WALTON MORAIS - By WALTON MORAIS ONLY TWO CLUBS have retained intact their teams for the Premier League competition which enters its third round tomorrow at Keppel. Surprisingly, the two clubs are not joint leaders SICC and Sentosa, but third-placed home club Keppel and sixth-placed Changi. The540 words
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Article252 1985-02-02 7 AFP ARI VATANEN of Finland and Terry Harryman of Northern Ireland in a Peugeot 205 Turbo 16 were provisional winners of the 53rd Monte Carlo Rally early yesterday. Runners-up were last year's winners Walter Rohrl and Christian Geistdorfer of West Germany in an Audi Sports Quattro. VatanenAFP - 252 words
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Page 7 Miscellaneous
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Miscellaneous735 1985-02-02 7 a \u» CRYPTIC PUZZLE ACROSS 9 She's one to take the money out (8) 10 Stop wntr>g, kidy (3) 11 Go to it a couple of times then stop i 6) 12 Land to colonise (6) 13 Began, instead, to turn nght (7) 14 It s Rick, chum! (4) 15735 words
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INTERNATIONAL STOCKS
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325 1985-02-02 8 Reuter LONRHO PLC said that the improved performance reported for fiscal 1963/84 ended Sep 30 was widespread. Gains were particularly apparent in Britain and the US, where profits rose by more than 23 per cent and 58 per cent respectively. The hotel andReuter - 325 words
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Article139 1985-02-02 8 Reuter SWISS WATCH group Asuag-SSIH has signed a technology exchange agreement with a US partner for the design of a new microelectronic chip. Board chairman Francois declines to identify the partner, but says that more details will be given once the US government has approvedReuter - 139 words
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296 1985-02-02 8 Reuter WALL STREET stock prices closed mixed in slower trading on Thursday amid investor disappointment over a drop in the index of leading economic indicators announced in the morning. The Dow Jones Industrial Average declined by 1.11 points to close at 1,286.77. InReuter - 296 words
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Article117 1985-02-02 8 Hud Bay M*i 7* JAM 31 a 45* unch 19 33*4 ol -1 34*. 40* 23* 23V4 -I Inti Nckal 27* 17 Bonk No*a Scotia MM Loblow 8 19* unch 37* 3* 28 Mc BkxM 28 Mi 34* 18 inch 31* 68 56* 20* 15*4 Norfhgate Exp 4* CmM117 words
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Article169 1985-02-02 8 JAN 31 (and 206 *2 105 inch MOUSTVIALS IMMC Wootworth 450 1325 inch -25 Ab«rco<n AE And O 150 720 unch unch MININGS 310 unch AMI?"*.... 2200 25 970 10 Buff eh 6600 100 C G Smith 1900 50 OsIA 1956 Civn# Franci 310 930 50 8300S 7800 F«d169 words
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Article381 1985-02-02 8 unch 1* MO JAN 31 usj Mob! Cp 28 45* 43* 30* 48 Motorola Inc 37* 38* 12 Alegheny Lud ABed Cham Cp 27* 39 18* Not! DisI Cham 26* 43 AJbad Stores 52 18* 28* •1 7* FMC Cp 67 1* 44* 2 63* 48* Norfolk 64381 words
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Article910 1985-02-02 8 Amsterdam JAN 31 Fh ABN Aagon Ahold 387 00 3 159 00 -3 ***** -0 8 Akzo AM£V Amfos 102 90 -0 6 221 20 -0 3 7470 0 5 Bark 48 30 -06 Boh Bormnn Bosko 107 00 2 5 336 00 2.5 Burtet Cokmd Co* Dak910 words
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Page 8 Advertisements
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Advertisement119 1985-02-02 8 %st/ZSk m mm a id m Iv ir.P High tea, fashion... at Orchard Hotd Singapore. f IV *AAt The Terrace on Saturday, from 3pm to 6pm, help yourself to a •emWg array d tea-time* goodies like baked lorraine mango cake dian xin and more Then enjoy a stunning fashion show119 words
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Advertisement189 1985-02-02 8 mggmmmmmmm losions Tavern ;ioio^ s Two stunning new groups, SMASH and SUNNY BAIA It the MOON GLOWS will entertain you from 5.30pm to 12.30 am. (A single group performs on Sundays and Mondays from 7pm onwards.) Now, when you order a glass of Tiger Draft Beer or any other pouring189 words
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Advertisement72 1985-02-02 8 0 G Time: 12 noon 2.30 pm Price: $12.0CT Fashion Show: 1.15 pm Modeling Agency Clothes by Romantics Trading PRESIDENT MERLIN HOTEL SINGAPORE 181. Kitchener Road, Singapore I Tel: *****22 Entertain your friends in Royal Style at EMPEROR'S ROOM a cA bo* 1 Eos* <y>o Wes' is f eiec'eO if»72 words
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Advertisement100 1985-02-02 8 Enjoy Vur Prompt <at)]tc,ent. Service In Cool? Qlilt Cosy Atmosphere Banquets Cater For Lunch Dinner Meetings Wedding Birthday Patpes At [416/- Onwards Per ftfson or J LVJI v/ii" 1 Other Occasion With Function Jjtooms (Free of Charge) Eor 60 And Above. Taped Bisco Music for your dancing pleasure. Wf HOTEL100 words
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Advertisement132 1985-02-02 8 /!?$)<'~,^%>+}^*=?]-.$[<&=[~{%? LOMMgE Sip a glass of the world's finest wine while you relax in the cosy ambience of The Lounge. Make your nights memorable with versatile quartet Body N Soul from Philippines. They'll captivate you! Happy Km Spa 7pm. 25% off oa all dria Ample parking space J ci^Own FRANCE132 words
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ASIAN STOCKS
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Article353 1985-02-02 9 HONGKONG: Share prices closed mostly lower yesterday on late book-squaring, relinquishing early gains which followed news of Hutchison Whampoa's sale of its stake in Cross-Harbour Tunnel. The Hang Seng Index ended 8.76 points lower at 1,356.26 after having been 7.65 higher in the morning. Hutchison finished 20 cents off353 words
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Article230 1985-02-02 9 FEB 01 A1 Sincara India MT 5.20 0 2 inch -0 1 0 5 0 1 0.1 0.3 -0.1 unch +0.2 17 80 02 Lian Hwa Indus Nan Yo Plas II 80 30 00 24.10 unch 0 4 •05 Cathay Coos Chang Hwa Bank 27 30 51 50 Pocihc230 words
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Article327 1985-02-02 9 TOKYO: Share prices closed lower yesterday for the first time in five days as hectic trading reversed a firm morning start when investors grew wary about the rapid advance. The market average fell 45.35 to 11,946.96 after gaining 31.68 on Thursday and exceeding 12,000 in yesterday's early morning trad-327 words
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Article103 1985-02-02 9 MANILA: Share prices closed generally easier in dull trading yesterday. The Mining Index fell 6.53 to 734.03 and the Commercial and Industrial Index eased 0.33 to 103.85 but the Oils Index was unchanged at 0.606. PLDT fell to 35.50 pesos from 36. fmm Onantol B 001 unch PM OVWMO*103 words
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Article347 1985-02-02 9 SYDNEY: Share markets closed mixed yesterday with strong support for industrial issues offsetting a weaker resource sector. Near the close, the All Ordinaries Index was down 1.0 point at 772.4 points. National turnover was 40.93 million shares compared with 44.31 million on Thursday. Diversified resource issues were easier with347 words
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Article153 1985-02-02 9 BANGKOK: Stock prices closed higher in quiet trading yesterday. The Book Club Index rose 0.52 point to 125.96. Turnover was 146,093 shares compared with 153,533 on Thursday. FIB 01 hkts <_«mont 562 •4 Sam Oortt 9450 3 A ok ham Thai San Tyro Asm South Asm Fin Ayuthoyo In*153 words
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Article79 1985-02-02 9 Feb 1 Bonk Saoul Won 621 -10 Hyundai Motor K A L 623 541 690 unch -8 inch Chohaung Bk 607 -3 1934 69 678 unch 397 27 Do«h ri tnd 515 -5 720 -4 Doawoo Corp Doawoo Ind Dona Ah 511 616 568 700 unch' •12 .5 Somscrtg79 words
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Article61 1985-02-02 9 Reuter PAKISTAN has allowed Habib Group of Industries to set up a car assembly plant for Japan's Toyota Motor Corp. Car brokers say that Toyota will provide machinery and technical know-how for the plant. Cost and production dates are being worked out. Pakistan has a plantReuter - 61 words
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255 1985-02-02 9 Reuter THE PAPUA NEW GUINEA government said the Ok Tedi gold/ copper project had been ordered to close within 28 days. The Minister for Minerals and Energy, Francis Pusal, said in Port Moresby that the closure order followed the failure ofReuter - 255 words
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Article77 1985-02-02 9 AFP ALL NIPPON AIRWAYS expects a decline of 34 per cent in aftertax profits from the previous year in the current financial year ending in March, in spite of a 10 per cent rise in sales. A net profit of 5.3 billion yen is likely onAFP - 77 words
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68 1985-02-02 9 Reuter STONE AND WEBSTER Inc has been selected by the Indian government-owned Indian Petrochemicals Corp to provide proprietary technology and assist in engineering and building an ethylene plant to be built near Bombay. The plant will form the core of a US$l.3Reuter - 68 words
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151 1985-02-02 9 Reuter HUTCHISON WHAMPOA has sold 26.17 shares or a 20.6 per cent stake in Cross-Harbour Tunnel Co for more than HK$25O million to institutional interests in Hongkong and in London. A company spokesman said that the funds would help finance Hutchison's acquisition of 34.6Reuter - 151 words
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155 1985-02-02 9 AP EPSON CORP, one of Japan's leading printer manufacturers, will set up a U*****,000 subsidiary for assembly of printers in the Shenzhen Economic Zone in southern China later this year. Epson spokesman Heitaro Morinaga says that Epson Engineering of Hongkong,AP - 155 words
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Page 9 Advertisements
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Advertisement513 1985-02-02 9 mm: m W 9HMB M «rr V, Li ,S0 Sto* For a Reranakan Buffet Lunch so good,even Nonyas feel at home. For over a decade we've been known for Peranakan Buffet lunches with a home-cooked flavour. You too can enjoy the pleasure daily, for only Ssl4.oo++ per person. The Luna513 words
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Advertisement134 1985-02-02 9 Listen to Great New Sounds at CAIRNHILL COCKTAIL LOUNGE With Ramon D' New Blackjacks 'and the 2nd Addition Buy a drink during Happy Hour and the next one's on the house! .1 Our drinks include: Black White Premium Scotch, Renault OVB, Pernod 45, Bristol Cream, Peter Heering, Old Oak White134 words
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SHARE INFORMATION
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Article, Illustration4311 1985-02-02 10 TURNOVER ROSE at the Singapore stock market yesterday to its highest ievel since the August rally last year. Prices, however, closed mixed. The turnover of 24.83 million units worth $57.20 million was due to a combination, of factors: institutional buying, the beginning4,311 words
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Article168 1985-02-02 10 SINGAPORE RiMi Indices o c c Fa* HH Wintfc— 50« Mm MM S0« M«|«i» Corp* Strain Ti MalakaH H Inn CM* f M il 50* Sum IN m> N» GtaMoty Mfcri S0« S F Tarrita 950 SOO 241 222 344 466 324 555 190 ISO 228 200168 words
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Article4754 1985-02-02 10 SECTION ONE INDUSTRIAL COMMERCIAL < Acmo (1 606X5) 1.60(13) 1.61 f (I) 1.61 (22) 1 60SETT (I 626 1 635) (3) 1.64(3) I 62(5) 1.64 (16)163 (7)162 Alcom (1 345) (2) 1 32SETT f (1326) Allied Choc (2.545) (1) 2.50 Amol Stool 50« (1 2764,754 words
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COMPANY NEWS
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Article, Illustration198 1985-02-02 11 CHART PI|7NT "Mi HOCK LOCK SIEW IN THE NOV 16 review, when UIC was trading at $1.60 and appeared to be rapidly losing ground after having fallen from the rising wedge pattern, WX:YZ, I advised readers to buy the shares for a shortterm trade. IHOCK LOCK SIEW - 198 words
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Article171 1985-02-02 11 THE FAIRLY HEAVY profittaking that accompanied the mixed closing at the Stock Exchange of Singapore yesterday was expected, as stated in my special market review on Tuesday. Besides, many counters, particularly the popular bluechips are now quite overstretched on the upside, with some of them bumping up against171 words
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414 1985-02-02 11 GENTING Bhd has asked its shareholders to vote in favour of a resolution for the group's participation in a casino project in Australia. The resolution will be tabled at an extraordinary general meeting to be held on Feb 14. Making the recommendation in414 words
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Article566 1985-02-02 11 Berjaya Kawat-Malaysian Ropes merger BERJAYA KAWAT, which will end up as the holding company for Malaysian Ropes following the proposed merger of the two companies, is 38 per cent owned by Nautilus Corporation. Nautilus is a joint venture between Mr Vincent Tan, the Malaysian franchise holder566 words
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535 1985-02-02 11 RAMEBH CHANDIRAMANI - By RAMEBH CHANDIRAMANI NORTH BORNEO TIMBERS Bhd (NBT) has turned in a sharp improvement in its latest interim results in spite of the weak timber market. The group's pre-tax profit for the first six months to Nov 30, 1984, was up535 words
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198 1985-02-02 11 GAMMON (HONGKONG) Ltd has agreed to acquire Swire Properties Ltd's 50 per cent shareholding in Gammon Building Construction Ltd (GBC). The value of the shares will be based on the audited accounts as at Dec 31,1964. As a result, GBC will become198 words
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432 1985-02-02 11 Bernama INDIA-MALAYSIA Textiles (Imatex), which is venturing into property development, has forecast pre-tax profits of not less than M 59.3 million for the financial year ending March 31, 1985. Referring to its proposed rights issue, the company said that based on theBernama - 432 words
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Article41 1985-02-02 11 DIRECTORS of QAF Ltd have approved the change in the company's financial year-end from Dec 31 to March 31. Accordingly, the next set of annual published accounts will cover the period from Jan 1, 1984, to March 31,1985.41 words
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Article884 1985-02-02 11 INDUSTRIALS ion 31 AS«<H.yons 179 -1 unch Am Doom 158 BTR PLC 654 +2 Bobcocks 150 -12 634 2 363 -15 BCC 258 unch Blu« Cfda 488 -2 BOC Group 289 -6 Boon 175 -4 Bowotar 228 -4 BATS 368 ■2 102 3 BP 533 13 B T«t«com884 words
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380 1985-02-02 11 AUSTRALIA'S largest retailer, GJ Coles, has emerged as the buyer of a 9.9 per cent stake in its main rival and second largest retailer, Woolworth Ltd, with the apparent aim of forestalling possible takeover moves against Woolworth's. Only hours after disclosing itself as having380 words
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Article47 1985-02-02 11 MR LEE FOOK HONG and Ms Chew Siok Hong have resigned as company secretaries of lateraattMal Trast A Finance Ltd with effect from Jan 31. They have been succeeded by Mr Harry Tan Kay Choon and Mrs Una Tan Siew Cheng, effective on Feb 1.47 words
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Article101 1985-02-02 11 HONGKONG Hong Seng Index Friday 1356 26 Thursday 1365 02 Week ago 1373.91 TOKYO Tokyo Dow Jones Friday *****.96 Thursday *****.31 Week ago *****10 Australian Industrials Friday 1160.3 Thursday 1157.1 Week ago 1138 9 NEW YORK Dow Jones Thursday 1286.77 Wednesday 1287.88 Week ago 1270.43 Standard and Poors101 words
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Article240 1985-02-02 11 Managers' prices for Feb 2 4 MARA Bumiputra Frst B'putro 5 61 5 66 Second B'putro 5 00 5 05 Third B'putro 4.03 4.08 Fourth B'putro 4.43 4 48 Singapore Unit Trust The Commerce 2.34 The Sov*»gs Fund 1.64 248 1 74 Fifth B'putro 3 04 3.09 Sixth240 words
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Page 11 Advertisements
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Advertisement11 1985-02-02 11 Idecoß GUOt A complete i handbook to designing, decorating and furnishing11 words
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781 1985-02-02 12 LISA LEE - Sliding prices are starting to level By LISA LEE PROPERTY prices in Singapore have not reached bottom and will continue to fall this year, says international property consultant Jones Lang Wootton. In an interview with BT yesterday, officials of the company said that the781 words
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545 1985-02-02 12 LOH HUI YIN - By LOH HUI YIN THE STRONG Singapore dollar continued to eat deeply into Singapore Airlines' revenue of $1.6 billion from April to November last year. Because the dollar appreciated by 4.5 per cent against a fixed basket of foreign currencies, SlA's545 words
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178 1985-02-02 12 Bernama THE OVERHANGING Philippine territorial claim on Sabah should be dropped once and for all. Sabah Chief Minister Datuk Harris Salleh said yesterday: "Statements over the years from Philippine leaders that the claim has been dropped are not enough. They must beBernama - 178 words
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571 1985-02-02 12 AFP FRANCE is to recall its ambassador to New Delhi in connection with the spy scandal rocking India, according to the United News of India (UNI). French embassy sources would neither confirm nor deny that Ambassador Serge Boidevaix was to be recalled. AnAFP - 571 words
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292 1985-02-02 12 THE Singapore Symphony Orchestra will receive a $100,000 donation from banker Ng Sau Long as a "token of his deep remorse" in his tax evasion matter. Ng, 43, also a businessman, has also agreed to have two tax cases compounded292 words
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271 1985-02-02 12 FINANCIAL year 1965/86 (starting April 1965) is not going to be an easy year, warned Dr Cheong Choong Kong, managing director of Singapore Airlines, last night at the 21st SIA Group Business Meeting held at Singapore Conference Hall. A note of caution crept into Dr271 words
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Article100 1985-02-02 12 DBS BANK will lower some of its fixed deposits rates by one-quarter percentage point on Monday, but its prime rate will remain at 8.75 per cent. The bank said the oneand three-month fixed deposits will earn 5.25 per cent and 5.5 per cent respectively. The six-month rate100 words
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328 1985-02-02 12 SOH TIANG KENG - By SOH TIANG KENG Banking Correspondent SINGAPORE and Hongkong will be the financial centres of Asia, outside Japan, playing the most active roles in dealing with yen-denominated investments and loans, with the gradual liberalisation of Tokyo's financial markets. Mr YNakagawa, visiting president of328 words
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Article72 1985-02-02 12 STOCK prices were sharply lower in early trading yesterday as the market responded to profit-taking and a larger than expected rise in the US money supply. The Dow Jones Industrial Average was down about nine points to under 1278. Overall, losers led gainers two-to-one on a volume72 words
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LATE FILE
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Article60 1985-02-02 12 UPI A SOUTH KOREAN freighter carrying a crew of 17 capsized in the Korea Strait early yesterday, leaving 15 seamen missing. Japan's Maritime Safety Agency reported that one sailor was rescued by a Japanese freighter passing nearby and a search plane spotted another on a lifeUPI - 60 words
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Article48 1985-02-02 12 AFP A MYSTERY FIRE swept through the palace of the Sunan or Prince of Solo in Central Java on Thursday night, almost completely destroying the 18th century building. An armed forces spokesman said that the cause of the fire had not been established. AFPAFP - 48 words
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Article57 1985-02-02 12 Reuter JAPAN yesterday loosened controls on the Tokyo currency market in the hope of strengthening the yen just as it sagged to its lowest value in more than two years. Japan's monetary authorities said they would now allow banks to buy and sell large, amounts ofReuter - 57 words
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Article56 1985-02-02 12 UPI THE UNITED STATES and South Korea yesterday kicked off a large-scale Joint -military exercise called "Team Spirit 85", in spite of strong protests from North Korea. A US military spokesman said the annual exercise began with the start of strategic mobiliation of US combat forces andUPI - 56 words
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Page 12 Advertisements
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Advertisement540 1985-02-02 12 3{RJ-JOI Van dir HORST VAN DER HORST LIMITED (Incorporated in the Republic of Singapore) The Board of Directors of Van der Horst Lid is pleased to make the following announcement:I AUDITED RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 1984 1984 1963 or COMPANY GROUP COMPANY GROUP COMPANY GROUP Ss*ooo SS'OOO540 words
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Page 12 Miscellaneous
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Miscellaneous54 1985-02-02 12 Outlook for today: Continuous slight roin becoming moderate to heavy at times. Report for 25 hours prior to 7.30pm on Feb I at the airport: Maximum temperature 30.3 Associated humidity 72 Minimum temperature 22.6 Associated humidity 94 Hours of sunshine 2.80 Rainfall in millimetres 14.5 Rainfall this month 14.5 Rainy54 words
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