The Business Times, 9 March 1985
1985-03-09
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The Business Times
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Title Section12 1985-03-09 1 BUSINESS TIMES M.C. (P) No. 99/1/85 SATURDAY, MARCH 9, 1985 60 CENTS12 words
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Article1125 1985-03-09 1 THE BUDGET unveiled in Parliament yesterday by Finance Minister Tony Tan was a microcosm of the economic pragmatism that has stood Singapore in good stead for the last 25 years. Previously declared policy has been given the necessary fiscal backing so that the target industries and1,125 words
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Article377 1985-03-09 1 THE Port of Singapore Authority has sprung a pleasant surprise on the shipping community. Jt will lower some tariffs by up to 16 per cent from June 1. The revisions in port dues, handling charges and use of tug services during off-peak hours will result in377 words
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Article139 1985-03-09 1 PROFESSIONALS earning income abroad for professional services rendered will enjoy tax concessions when the net income is remitted back to Singapore. This will affect income earned from this year onwards. Previously, income earned abroad and remitted back to Singapore was subject to tax. An exception was139 words
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220 1985-03-09 1 BUSINESS CONFIDENCE was a "fragile commodity" that could be shattered easily by talk of gloom and doom, said Dr Richard Hu, in defence to allegations that his ministry was not taking the economic situation seriously enough. Certain sectors of the economy might220 words
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Article554 1985-03-09 1 THE ANNOUNCEMENT by Dr Tan that the present 4 per cent levy on employers of workers earning $750 or less is to be reduced to 2 per cent from April 1 is welcome news for all employers who have decried the levy as one of the554 words
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508 1985-03-09 1 TAX INCREASES will push up the cost of cars and taxis and bring in an additional $204 million for the government in the new fiscal year. The 15 per cent rise in road tax effective today will raise the annual payment for a508 words
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Page 1 Advertisements
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Advertisement162 1985-03-09 1 ASIAPRINT '85 41h International Exhibition of Printino. Graphic Arts Equipment Supplies. ASIAPRINT JUNE 20-23 WTC S PORE The World's GoH Club, C-500 Reason -1: TOPS IN DISTANCE Tests executed by an American designed swing robot (the most retiaote golf testing equipment to date) prove that Yamaha s Carbon Composite gottctubs162 words
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Advertisement267 1985-03-09 1 mm MENTOR GRAPHICS, a company specialising in computer-aided engineering equipment, opened yesterday with a target to top US$25 million in soles for the Asian region this year. Page 2 A PANEL OF top treasury and centrol bank officials is to present a report on ways to improve the world monetary267 words
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Advertisement56 1985-03-09 1 ASIAPACK '85 4th International Exhibition of Packaging Machinery Materials And Food Processing Machinery JUNE 20-23 WTC S PORE More Budget reports on Paget 4 and 5 What others say, Back page 19 0 5—1985 80 YEARS OF BANKING EXPERIENCE IN SINGAPORE TO SERVE YOU BETTER 8 BANQUEINDOSUEZ 3 Shenton Way.56 words
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HOME NEWS
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335 1985-03-09 2 JEFFREY TSANG - Local IC design centres among its targets By JEFFREY TSANG MENTOR GRAPHICS, a company specialising in computer-aided engineering (CAE) equipment, opened yesterday with a target to top US$25 million in sales this year. But this figure is the sales target for335 words
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149 1985-03-09 2 A GROUP of real estate professionals left Singapore yesterday on a mission to recruit Brunei to join the Asean Association for Planning and Housing (A}u»H). The contingent comprising developers, contractors, planners, valuers and other professionals was led by Mr Daniel Teo, a prominent149 words
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276 1985-03-09 2 AN AMERICAN semiconductor testing equipment manufacturer expects its business in Southeast Asia to grow by 40 per cent a year. Mr Graham Miller, president and board chairman of LTX Corporation, said there is already US$25 million worth of his company's semiconductor276 words
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Article140 1985-03-09 2 THE Department of Extramural Studies of the National University of Singapore (NUS) will be conducting three courses, starting with Fundamentals of Investments, on March 17 and 24. Topics to be discussed at this two-Sunday workshop include mathematics of finance, compounding and discounting, and risk and investment. Tax140 words
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279 1985-03-09 2 THE ROW between Singapore Land and its main contractor for the Gateway project is starting to affect some sub-contrac-tors. One of them, Asea-Singa-pore, retrenched 26 workers because "a major order was lost in January by the indefinite postponement of the Gateway property279 words
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337 1985-03-09 2 JAIME LYE - By JAIME LYE CHINA HAS SENT a study team to determine the best way of exploiting Singapore's potential as a tourist market. The team, from the stateowned China Travel Services (CTS), met officials from Singapore Airlines (SIA), the Singapore Tourist Promotion Board337 words
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Article, Illustration157 1985-03-09 2 THE QE2 and a British Airways Concorde will arrive in Singapore for a link-up for the rest of the luxury cruiser's round-the-world cruise. The Concorde will fly in passengers tomorrow to join the QE2 when it arrives in Singapore on Monday. The QE2-Concorde connection in Singapore is157 words
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BANKING AND FINANCE
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378 1985-03-09 2 Reuter THE AMERICAN Federal Reserve appears to be holding to the "cautious" monetary policy that chairman Paul Volcker articulated in testimony to Congress two weeks ago, analysts said, after reviewing monetary data released on Thursday. But the US$3.6 billion riseReuter - 378 words
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Article84 1985-03-09 2 AFP THE PHILIPPINES will sign an agreement with its foreign creditor banks for the rescheduling of some US$6 billion in maturing debts and $925 million in new money on March 19. Prime Minister Cesar Virata and central bank governor Jose Fernandez will represent the countryAFP - 84 words
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Article, Illustration681 1985-03-09 2 SINGAPORE The US dollar finished firmer against major currencies yesterday after fluctuating uncertainly throughout the day in light trading. It closed firmer at 3.4280/95 marks compared with New York's 3.4190/4220 close, but below its high 3.4360. The greenback closed higher at 2.9175/90 Swiss francs compared with New York's681 words
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Article45 1985-03-09 2 RESULTS of tender held yesterday for 91-day Treasury bills to be issued from Mar 11 to Mar 15 Offered: $160,000,000. Applied far: $160,000,000. Allotted: $160,000,000. Accepted bids: $99.26 all bids in full. Average rate of dlsceuat m allotment: 2.970 per cent per annum.45 words
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Article236 1985-03-09 2 Interbank rates at 3pm yesterday. Local dollars to one umt of foreign r—« or day c raae parity —cy: US dolor 2.2780 ***** 2 8196 -19.21 Sterling pound 2.4169 2 4225 7 3469 -67.10 Australian dolor 1.5638 1 5690 ***** -54 39 NZ dolor 1 0524 1.0642 3236 words
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Article223 1985-03-09 2 HONGKONG The metal closed lower yesterday under the pressure of a rising US dollar and a larger-than-expected US$3.6 billion rise in the latest US M-l money supply. The bullion price finished at US$2BB.BO/289.20 an ounce against an initial $289.30/70 and New York's $289.90/290.40 close. Dealers expected the metal to223 words
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Article317 1985-03-09 2 Asian market ASIAN dollar deposit rates closed firmer in quiet trading yesterday. Higher US federal funds and a larger-than-expected US$3.6 billion rise in the latest US M-l money supply underpinned rates. Weekend rates closed at 8-7/16 8-5/16, up 3/16 on Thursday, while week finished at 8% 8%, up 1/16. One317 words
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Article365 1985-03-09 2 DESPITE the larger-than-expected increase in US M-l money supply, Earedellar futures traded higher in Simex yesterday from CME's close. The downside risk is probably limited since the technical objective of 88.95 in the June contract has almost been met. June contract opened two higher than CME at 89.10 and365 words
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Article72 1985-03-09 2 THE OVERNIGHT rate on the Singapore interbank money market rose by two points from Thursday to close at 5V4 per cent yesterday. The one-month term rate rose by 1/16-point, the twomonth rate remained unchanged and the threemonth rate fell by 1/16point. S$ interbank rates at 3pm yesterday Offer72 words
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OVERSEAS
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141 1985-03-09 3 Reuter BRITAIN announced that it would introduce legislation outlawing surrogate motherhood for money. Social Services Secretary Norman Fowler said he would present a Bill to Parliament banning commercial agencies from recruiting women to have babies for others in return for cash. The Bill would beReuter - 141 words
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335 1985-03-09 3 FT BRITAIN'S net overseas earnings on foreign investments rose by 36 per cent last year to £2.3 billion, according to official figures. This largely reflected the rise of the dollar which pushed up the value of investments in the US, whenFT - 335 words
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WORLD IN BRIEF
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Article71 1985-03-09 3 SOLIDARITY founder Lech Walesa and other activists of the banned trade union ordered to appear before a state prosecutor's office could face imprisonment if convicted on charges of inciting public arrest. Walesa received a written summons on Thursday at his home in Gdansk to appear today at the71 words
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Article51 1985-03-09 3 MALAYSIA'S air force will not buy helicopters from the Soviet Union because the heavy-lift MI-26 helicopters it wants are not for sale. A Royal Malaysian Air Force team went to Moscow last November for the first time to view the Soviet MI-26 and cargo-utility class MI-8 and MI-1751 words
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Article50 1985-03-09 3 NEW ZEALAND Prime Minister David Lange has assured Malaysia his government's anti-nuclear stance would not diminish its commitment to non-communist South-east Asia. A Malaysian Foreign Ministry spokesman said Lange told Prime Minister Mahathir Mohamad yesterday that New Zealand was firm in its commitment to the fivepower defence arrangement.50 words
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Article71 1985-03-09 3 INDIAN security forces have arrested a man in Kashmir whom they suspect of belonging to a spy ring operating in the disputed northern border state, the Press Trust of India said. Official repots quoted by PTI from Jammu, Kashmir's winter capital, said that Tara Chand was arrested on71 words
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Article42 1985-03-09 3 INDONESIA plans to cut import tariffs to coincide with the April 1 introduction of a value added tax on goods and services and a sales tax on luxury goods. The cuts are intended to avoid sharp increases in import prices.42 words
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Article55 1985-03-09 3 Agencies JAPANESE Prime Minister Nakasone has instructed his Cabinet members to work out quickly a package of marketopening measures that is "rich in content." Nakasone said at a Cabinet meeting yesterday that, "time is getting near A package rich in content is urgently needed." Part of the CabinetAgencies - 55 words
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Article668 1985-03-09 3 ARRIVALS L Scrvic* Local From Operator RBA Ac a* MM /K p PAL SIA SIA SIA MAS SIA CAL THAI SIA BA SIA JAL SIA SIA MAS THAI CPA QAL QAL AZ RBA MAS PX SIA SIA SIA KLM GIA JAT SIA QAL QAL SIA SIA SIA668 words
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166 1985-03-09 3 AFP PHILIPPINE Prime Minister Cesar Virata has won a vote of confidence after opposition MPs sought his ouster, alleging that corruption is running unchecked in government projects. The 54-year-old Mr Virata, who is also Finance Minister, received 100 votes of support while 50 opposition membersAFP - 166 words
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277 1985-03-09 3 UPI VIETNAMESE TROOPS, playing deadly hide-and-seek in Thailand, yesterday launched a pre-dawn artillery barrage and heavy ground assaults on besieged Tatum guerilla base, the last major target of Hanoi's four-month-old offensive. Laysreng Lu, a guerilla spokesman, said artillery shelling hit the stronghold onUPI - 277 words
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Article77 1985-03-09 3 Reuter POLICE yesterday identified a Kampuchean killed in a gangland-style murder in France this week as the former deputy head of a Khmer Rouge concentration camp and a senior official of the shadowy Angkar Organisation. A police spokesman said Tri Meng Hot, murdered on Tuesday with threeReuter - 77 words
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208 1985-03-09 3 Bernama PENINSULAR MALAYSIA'S consumer price index (CPI) rose by 3.9 per cent on the average compared with the 1983 index. Latest figures from the Statistics Department show that Peninsular Malaysia's CPI for December declined by 0.2 per cent to 124.5 from 124.7 inBernama - 208 words
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65 1985-03-09 3 AP ASIAN and other foreign university students in Australia who withhold education fees in a planned protest against government plans to increase tuition face deportation. The government plans to raise the fees charged foreign students attending universities because of rising costs. Australian Foreign Minister Bill HaydenAP - 65 words
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493 1985-03-09 3 'Substantive' proposals from deputies of Group of 10 expected AFP A PANEL OF top treasury and central bank officials is to present a report on ways to improve the world monetary system to finance ministers of 11 leading industrial countries in Tokyo atAFP - 493 words
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187 1985-03-09 3 Reuter RICH COUNTRIES continued to raise much more capital than developing nations through bond issues last month but fewer large loans have been granted in recent months than at any time since 1977, the Organisation for Economic Cooperation and Development (OECD) said. ProvisionalReuter - 187 words
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Page 3 Advertisements
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Advertisement29 1985-03-09 3 f VWi Pan \m Continues To Fly TO San francisco, Honolulu \nd \ov\ ork I r»m 1 longkong \nd I ok\ o I )ail\ For Updated Information Call *****1129 words
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Advertisement321 1985-03-09 3 FACTORING CONFERENCE '85 Sponsored by (w) Singapore Finance Limited in conjunction with Factors Chain International 11th—12th March 1985 Shangri-La Hotel, Singapore The Factoring Conference 1985 is the first of its kind to be held in Singapore. The conference, which has a panel of distinguished international experts, answers everything you ever321 words
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Page 3 Miscellaneous
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Miscellaneous63 1985-03-09 3 Doonesbury •rrsmmQUMTHA DUCSRZ^^s^^ANP 7D BE ON THE W #W8 > m USA FOR AFRICA? WELL,SOFAR eeB.iPONT uevzGor KHOW.QUINOr. UONEL RICHIE., TM STILL SORT ORUCBSPRIN6 OFRET7REP.UW STEEN,BO3 ALL ARB YOU JMAN ASKING* f «„>^W m Si BY GARRY TRUDEAU ..MICHAEL JAOSON, RAT CHARLES swaeuunper, eerm MIDLER, PtANA ROSS, »LUJOEL, PAUL SIMON,63 words
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BUDGET 1985
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Article, Illustration1075 1985-03-09 4 Direct and indirect taxes will contribute to bulk of revenue Revenue THE ESTIMATED total revenue in FY 85 $10.6 billion is only $166 million or 1.6 per cent up from the revised revenue estimates for FY 84. The bulk of government revenue comes from direct and1,075 words
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Article1208 1985-03-09 4 THE GOVERNMENT will sell off its shareholdings in companies where it does not have a majority stake and where it is not essential for the government to have effective control. The following companies may fall into this category. Acme Electrical Industries Ltd Paid-up capital $24m. Government1,208 words
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530 1985-03-09 4 LESSER AMOUNTS contributed by premiums on land sales, currency surplus, regulatory and non-regulatory charges, ad valorem registration fees for motor vehicles, import duties from motor vehicles and foreign workers levy were largely responsible for the 1.7 per cent fall in revised revenue estimates for530 words
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234 1985-03-09 4 AS PAST OF the DMve to hssst the tourist Indnstry, doty en mast terms of eotertslnment has been redoeed to II per cent. Previously cinemas, amssement parks, hotels and ether entertainment paid taxes of 15 to 36 per cent. Bat entertainment dattes ea234 words
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Article182 1985-03-09 4 THE 10 PER CENT concessionary tax umbrella, enjoyed by Asian currency units (ACUs) on certain offshore income since 1972, has been extended to cover new instruments and activities, in particular fee-based services. This extension will apply to income earned this year as the concessions will182 words
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Article, Illustration1007 1985-03-09 5 Expenditure THE GOVERNMENT intends to spend $18.8 billion in the coming financial year beginning on April 1, 1985. Up 14.3 per cent from the outgoing financial year, the rate of growth is markedly lower than the average annual increase of 24.3 per cent for FY1,007 words
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What it means for the various ministries
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Article204 1985-03-09 5 NEARLY $1.4b, or about half of the $2.55b to be allocated to the Ministry of Finance, will go towards loans for industrial and commercial enterprises. The amount represents twothirds of the $2.1b allocated for development spending. The remaining one-third has been set aside to meet expenses of new and204 words
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Article440 1985-03-09 5 Trade Industry A SMALLER LOAN requirement by the Jurong Town Corporation (JTC) has led to a fall in the budget allocation to the Ministry of Trade and Industry. Its 5510.2 m provision represents the first decline since 1979. It is 8.8 per cent or $49m less than FY 84 and440 words
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Article304 1985-03-09 5 THE RECENTLY set-up Ministry of Community Development will create 13 new posts for its Child Care Services Branch to help working mothers. Another seven posts will be created to look after a greater number of lonely senior citizens. The Ministry has been allocated $83.74 million to undertake these304 words
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Article238 1985-03-09 5 Communications Information MORE THAN $l.lb will be spent to develop the Mass Rapid Transit system and Changi Airport Phase 11. Together, the two projects will take up 96.5 cents out of every dollar allocated to the new Ministry of Communications and Information. The Ministry's total budget is $1,175 m, of238 words
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Article243 1985-03-09 5 LOANS totalling $5b to the Housing Board is the main cause of a 17.7 per cent rise in the National Development Ministry's budget spending for FY 85. The HDB obtained $4b in loans in FY 84. A budget of $5.9b has been set aside in FY 85. The243 words
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Article, Illustration318 1985-03-09 5 AN ISLAND for pigs will be developed by the Ministry of the Environment. The ministry is spending $13.2 m to reclaim Terumbu Pesek in FY 85 for development into a holding station for imported pigs (See Map above). Expenditure on development projects will take up the larger proportion of318 words
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Article261 1985-03-09 5 NEW BUILDINGS to house the National Productivity Board and the Ministry of Labour will push up the ministry's expenditure by nearly one and a half tiroes to $79.2 m for FY 85. The budget increase, which is $46.8 million more than FY 84, rises faster than the 22 per261 words
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Article181 1985-03-09 5 SPENDING on manpower at the Health Ministry is expected to amount to $356 m $60m or 20 per cent more than FY 84. The rise, which accounts for more than 10 per cent of the total $560 m to be allocated to the ministry, is due largely to the181 words
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Article141 1985-03-09 5 THE MINISTRY of Foreign Affairs will be spending $19m to buy properties overseas. Its expenditure allocated in the new fiscal year is $74.5 m, $4.6 m more than FY 84. The 6.6 per cent increase is lower than the average growth of 17.3 per cent in the Ministry's141 words
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Article393 1985-03-09 5 THE MOST understaffed ministry, with more than 1,390 vacancies recorded towards the end of last year, is Education. More money will be spent on manpower this year to cope with more students for skills, technical and professional training. Although it will reduce its expenditure on development, it will start393 words
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BUDGET BITS
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Article82 1985-03-09 5 THE AUDIT DEPARTMENT expects to halve its contributions to the Skills Development Fund levy (to $10,000 this year) because wage increases have pushed more of the department's officers beyond the $750 a month ceiling. But the price it has to pay is a $580,000 rise in its wage82 words
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Article51 1985-03-09 5 PARLIAMENT is expected to see an increase in bills, not those which eventually become law but those which have to do with expenditure. With more Members in the House, along with normal salary increases, $1.18 million will be added to its wage bill, bringing the total to $7.3551 words
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Article61 1985-03-09 5 THE MINISTRY of Environment's mobile toilet rental business is expected to shift into higher gear this year with a 56 per cent increase in revenue to $240,000. But getting rid of rubbish is an immensely bigger business for the ministry which expects to collect $35.1 million in domestic refuse61 words
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Article49 1985-03-09 5 THE HOME AFFAIRS Ministry will get $113,000, up from $52,000 last year, from firewatching. But don't mistake it for one of the favourite pastimes of pyromaniacs. This revenue is expected from fire watching duties provided by the fire service as a safety measure at shows and exhibitions.49 words
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Article52 1985-03-09 5 THE CENSOR BOARD is expecting lower revenue from film censoring with an estimated collection of $3.4 million, down from $3.9 million in FY 84. Perhaps this explains why it is moving into sales of video tapes. The Board expects to raise $45,000 from sales of seized video tapes censored,52 words
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Article29 1985-03-09 5 STRANGER than the fact that there are a few tailors in the employ of the Ministry of Health is the $66,000 revenue it expects from dental chair licences.29 words
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Article39 1985-03-09 5 MORE PEOPLE retiring in the public sector and higher gratuity payments means an additional $41 million to be forked out in pensions in FY 85, bringing the total provisions to $135 million two-fifths more than the current year.39 words
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Article28 1985-03-09 5 IT IS GOING to cost $2.41 billion to defend Singapore $960 for every man, woman and child, up from about $909 per person in FY 84.28 words
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FEATURES
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Article473 1985-03-09 6 DID YOU KNOW that one species of frog thumps the ground to communicate with other frogs between three and six metres away? You probably haven't given much thought to this important topic of conversation, but two scientists in America, no doubt after considerable research, have discovered473 words
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Article1105 1985-03-09 6 LOH HUI YIN - By LOH HUI YIN IT'S POMP and ceremony today at the opening of the sprawling petrochemical complex on Pulau Ayer Merbau. The major partners of Singapore's premier industrial project will all be there top brass from the govern-ment-owned Temasek Holdings and the Japanese private sector1,105 words
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Article437 1985-03-09 6 CONCERTS SHELL Friday Lunchtime Concert. Travelling Light a selection of sketches, readings, music and drama presented by the United World College of South-east Asia. March 15, Shell Theatrette, Third Level Podium Block, Shell Tower; 12.45 pm-1.30 pm. EXHIBITIONS Three-Dimensional contemporary sculptures from the Federal Republic of Germany reflecting437 words
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372 1985-03-09 6 STRAWS in the Wind THE Law of Diminishing Returns is never stronger than when applied to duties on life's pleasures, as Hongkong Financial Secretary Sir John Bremridge has discovered. Last year he raised duties on tobacco and spirits, and sat back to watch the coffers fill.372 words
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Page 6 Miscellaneous
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Miscellaneous975 1985-03-09 6 TO &KXD IJMDIJd) HIGHLIGHTS Centrestoge Cold Storoge 8.30 pm, Channel 12 Taped at the Ryerson Theatre in Toronto, "Cold Storage" is a two-character play by Ronald Ribman. It tells the poignant story of the relationship between two patients who meet on the roof-top of a New York hospital. f CHANNEL975 words
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Miscellaneous752 1985-03-09 6 CRYPTIC PUZZLE ACROSS 9 Be quick to boord the thing? (4, 2, 2) 10 Heord the figure is excessive (3) 11 How the floodlight wiM shine? (6) 12 Decide to start a colony (6) 13 Did his cuting fall through? (7) 14 The one m front always looking in the752 words
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SPORTS
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Article418 1985-03-09 7 WALTON MORAIS - Top golfing amateurs lured away by Malaysian tournament By WALTON MORAIS THE MALAYSIAN OPEN golf championship, which ends tomorrow, has thrown a damper on this weekend's golf highlight, the Keppel Open amateur championship. The Asian circuit's second leg has drawn away the Republic's top amateurs including418 words
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312 1985-03-09 7 SINGAPORE'S sailors embark today on another leg of an Odyssey mapped to take them to eventual Admiral's Cup yachting success in England come August. Beginning today, our squad of Admiral's Cup hopefuls will pit their sailing skills against their Hongkong counterparts in the Interport international312 words
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Article, Illustration451 1985-03-09 7 HYPERION - By HYPERION AFTER being promoted for a smart win at Bukit Timah towards the end of last year, Brazzaka has been somewhat unlucky in two outings since. Even on that day he had his heels clipped by a following horse451 words
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RAW MATERIALS
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Article146 1985-03-09 7 Chinese Produce Robusta 20/25% FOB NSW 477.50 Exchange (SaNws' noon closing prices on Mor SV100 kg) Nutmeg 110 FOB NSW E W FOB NSW 396 00 248.00 Coconut oil Bulk FOB Old drum FOB 155.00 Gambier 168 00 FOB NSW 330 00 New drum FOB 172 00 London146 words
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Article281 1985-03-09 7 Singapore (S$/V4o, ex-godown) Thoi white C-l special C-l Ordinary Loonzain 100% first grade 100% second grade unq unq 100% 1st doss 100% third grade unq (kangaroo) new crop 100% 2nd class 0 96 Parboiled 0.70 5% 227 222 100% 3rd class 0.65 '0% 25% new crop B-10% No stock281 words
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Article134 1985-03-09 7 MALAYSIAN crude palm oil prices rose further on continued covering and speculative buying. In the March position, central region firmed M 542.50 to $1,312.50 per tonne, north $35 to $1,305 and south $32.50 to $1,315 while in April, south rose $40 to $1,300. Refined palm oil prices also134 words
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Article69 1985-03-09 7 SOYBEAN futures on the Chicago Board of Trade closed one cent per bushel lower to 3 3 US cent higher on Thursday. Acli, Cargill, Merrill Lynch and Pillsbury were late buyers of May, while Mocatta, Ferguson, Refco and C 4 D Commodities sold May late. Soyoil futures closed 0.6369 words
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Article97 1985-03-09 7 THE price of tin on the Koala Lam par Tin Market remained at the International Tin Agreement fleer-level price of M 529.15 per kg yesterday. The buffer stock manager wm the sole buyer of the 135 tonne turnover down from 141 tonnes on Thursday. There was no foreign97 words
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Article156 1985-03-09 7 Yarn (hi HK$ per bole of 400 lb) China carded yarn, cones Blue Phoenix 16's 2,550 Blue Phoenix 2Cs 2,750 Blue Phoenix 32's 3,300 Blue Phoenix 40"s 3,650 Girded yarn, hank Blue Phoenix 2l's 3,000 Combed yarn, cones Blue Phoenix 32's 4,350 Blue Phoenix 40's 4,500 Open-end yarn Blue156 words
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Article111 1985-03-09 7 WHEAT futures on the Chicago Board of Trade closed V/* US cent per bushel lower to cent higher on Thursday, pressured in thin trade by weak foreign currencies and precious metals. Geldermann, Hutton, Merrill Lynch and Collins were featured late buyers of May, while Refco sold May and Frazier111 words
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Article418 1985-03-09 7 COFFEE Robusta futures held steady during Thursday afternoon dealings at levels slightly above midday's to close £28 to £8 higher. May ended at £2,456, up £23 and £2 up from midday. The steady afternoon trend reflected little changed sterling prices plus support from a firmer New York opening.418 words
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Article329 1985-03-09 7 RAS prices <« s ce«ts/k.io, fob NOON Buyers Sellers Int 1 RSS Prompt 163.00 164.OON Int 1 RSS Mor 85 165.50 166 50 Int 1 RSS Apr 85 169 50 170 00 Int 2 RSS 162 50 163.50N UK/Cont 161 50 162.50N Int 3 RSS 160 50329 words
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Article110 1985-03-09 7 (cents/kg. 1-ton pallets) March 85 April 85 (current mth) (forward mth) RAS NOON NOON Buyers Sellers Buyers Sellers SSR 20 168 00 170 OON 170 00 172 OON SSR 50 166 00 168 OON 168 00 170 OON MRELB Buyers Sellers Buyers Sellers SMR CV 214 00110 words
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Article181 1985-03-09 7 SINGAPORE The market closed higher yesterday with March One RSS buyers quoted at 166.50 cents per kg, up 2.50 cents from Thursday. The morning session gained two cents on buying and covering interest in quiet trading. Prices rose further in quiet afternoon trading on continued buying and covering interest.181 words
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Article988 1985-03-09 7 VnmI Berth Arrival Departure Ang Lee Arrow Raya J8/9 Jl 9 3/0800 9.3/0830 10.3/1800 10.3/2300 KEPPEL WHARVES Karimun Abadi J9 9.3/1400 9.3/1700 A Grottger K17 alongside 9.3/0600 Nhat Le J7 9.3/2359 11.3/2300 Auby K25W alongside 9.3/0600 Sam Hong lll/T J9/10 9.3/1000 9.3/1100 Lino 101 Kll alongside 9.3/0800988 words
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Page 7 Advertisements
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Advertisement0 1985-03-09 7 ^>'|+])`{+]%}&}`:_=/>(]>;%?~@$:0 words
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Advertisement5 1985-03-09 7 The toad report was unavailable.5 words
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INTERNATIONAL STOCKS
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493 1985-03-09 8 FT LONRHO, a British-based international trading group, is preparing to mount a new offensive in its long-running campaign for control of House of Fraser, a retail chain which includes Harrods of Knightsbridge. This followed a ruling by Britain's Monopolies and MergersFT - 493 words
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Article272 1985-03-09 8 Reuter SHARE PRICES closed moderately lower on Wall Street on Thursday as the market remained mired in concerns over US interest rates. The Dow Jones Industrial Average fell by 8.84 points to close at 1,271.53. More issues lost money than gained, by a margin ofReuter - 272 words
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Article87 1985-03-09 8 MAR 07 Abffibi c$ 50* Imp Oi Inco Int Pro* P«p« 48* 18* 34* 25* 37*4 •1* 17* 21* 17 •1 19 4 26* 26 13 16* 39 71* BP Con Ltd 27* 34* Norondo 30 19* unch 61* -1* 5 14* 28* 24* 18 Rio AJa 22* 14*87 words
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Article193 1985-03-09 8 MAI 07 load UniMC WoofcwofTh 460 tnch INDUSTRIALS MININGS A AlpKa 670 unch 125 5 Anglos AE And a 655 Anglvool Byyoors 2150 6800 50 Barlows 960 -5 unch Charter Cora Gold 430 ***** unch C G Smith cna Cora Murch 960 unch Cum* Financ* 350 unch unch inch193 words
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Article679 1985-03-09 8 MAR 07 US$ Alcon AJurrwi Atcoo AWghany Lud AWd Own Cp AJwd Storat Aftt-Chohnan Am Brandt he Am Broadcast Am Can Co Am Cyonarr«d Am EWc Pwr Am Expratt Am Horn# Prod Am Motort Cp Am Natural Go* Am Tal Tal Amax he Amarodo Matt AMF he Am679 words
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Article749 1985-03-09 8 Amsterdam MAI 07 Fit ABN 394 00 -4 180 00 -5 Ahotd 222 50 -2 5 Akzo 110 50 -1-2 AWfV ***** -I Amtoi 73 60 -0 9 55 00 -2 2 Boh 106 00 unch 351 00 -2 Botha 8urt«t 90 50 -1 36 00 -0 5749 words
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Article65 1985-03-09 8 FT NEW ZEALAND has abandoned controls which restricted overseas companies' ownership of New Zealand financial institutions, advertising agencies and fish processing plants. Previously, foreign ownership was limited to 70 per cent of financial institutions, 49 per cent of fish processors and 40 per cent of advertisingFT - 65 words
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Page 8 Advertisements
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Advertisement103 1985-03-09 8 I I I A* Ha*S «««Js +-J- jL-H* -tic* 4W» **t iNTUrccNnNorru SIMGAPOIE tea, high feshiori... ctt Orchard Hotel Sngapote A*** *Jb ffi ►> At The Terrace on Sat from 3pm to 6pm Treat yourself to a scrumptious tea and fashion show by leading boutiques. Models from Ivor's Models Boutiques:103 words
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Advertisement158 1985-03-09 8 your very own retreat KSrJEL: s --i a*S At Scotts Cafe, we serve all your tastebuds' fancies from delicious Western cuisine to mouth-watering Oriental dishes. Set in an intimate atmosphere surrounded by red brick walls, wrought-iron lamps and lush greenery. HOTEL ASIA Your Mend In Singapore HOTEL ASIA PTE LTD158 words
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Advertisement76 1985-03-09 8 erraee Gardei} Time: 12 noon 2.30 pm Price: $12.00" Fashion Show: 1.15 pm Mode«s*. morirolon Modeling Agency Clothes by, Nouvelle Creations PRESIDENT MERLIN HOTEL SINGAPORE V 181. Kitchener Road, Singapore Tel: *****22 Entertain your triends in Royal Style at EMPEROR'S ROOM o C East a<x3 Wes' is 'elected >o urMQue76 words
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Advertisement142 1985-03-09 8 9 f A t 0 zs ce Spring Palace Chinese Restaurant Superb Cantonese cuisine from our Hong Kong chefs to please the most discriminating gourmet. Special business lunch at $16 -h- each and $20 -H- each (min. 2 persons). Over 50 a la carte specialities are also available. SINGAPORE HOTEL142 words
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Advertisement143 1985-03-09 8 London atocks, Paga 11 (i* e. v 15' I Lounge Sip a glass of the world's finest wine, while you relax in the cosy ambience of The Lounge. Make your nights memorable with versatile quartet, Body n Soul from Philippines. They'll captivate youl Happy Hours: Spa 7par 25% off oa143 words
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ASIAN STOCKS
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Article347 1985-03-09 9 HONGKONG: Share prices closed steady yesterday after a late rally sparked by speculative buying in second line property shares and institutional short-covering in blue chips. The Hang Seng Index closed 6.13 up at 1,395.27 after being off 4.37 at midday. Henderson Land rose four cents to HK$l.69, Hysan one347 words
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Article216 1985-03-09 9 MA* OS MT 425 -001 Lwn Hwa Indus Nan Yo Plai Pocific Com Pacific Elact Wira .12.50 29 70 25 30 I8 60 unch -0 1 0.9 Alio Camant Cartwy Con* Chong Hwa Bank 25 80 27 20 .54.00 1980 0.2 +07 +2.5 Poolung Papar Sharp SMnfcn Papar ..I216 words
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Article376 1985-03-09 9 TOKYO: Share prices closed sharply easier yesterday but well above the day's lows in light trading ahead of today's market holiday as bearish Wall Street undertones enhanced a mood of consolidation. The market average, which fell 83.87 on Thursday, showed the year's largest drop of 100 in midafternoon before376 words
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Article110 1985-03-09 9 MANILA: Share prices closed mixed in dull trading yesterday. The Commercial A Industrial Index rose 3.01 to 119.99, the Mining Index fell 1.42 to 706.54 and the Oils Index was up 0.009 to 0.593. MAS M Acota Mining Pan 0.0014 unch Montaal Onantot B Phiax B 0.0014 inch ...0.01110 words
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Article323 1985-03-09 9 SYDNEY: Share markets closed lower yesterday. Near the close, the All Ordinaries Index was down 9.6 at 788.1 points, the All Industrials Index 11.3 at 1,165.5 and the All Resources Index 8.0 at 497.4. National turnover was 41.33 million shares compared with 41.79 mil- lion on Thursday. Falls outnumbered323 words
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Article126 1985-03-09 9 BANGKOK: Share prices closed firmer in moderate trading yesterday. The Book Club Index rose 1.04 points to 126.52 and turnover rose to 143.9 million baht from 106 million on Thursday. S«jm Camant 563 18 Stam Citizen 93 50 2.5 Aokhom Thai S«am City 594 10 Asia Rbri South Asia126 words
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Article67 1985-03-09 9 Mor 8 Won 598 Hyindai Corat Hyundai Motor KAL 904 547 537 -1 -10 ■9 593 1 647 640 1789 -30 Docfcm Ind 455 -5 Kor*o Shp 355 428 -JO Lucky Ltd 630 -24 532 •8 765 -10 509 -10 797 -4 632 -13 1290 10 Hani Bk 65067 words
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Article59 1985-03-09 9 Reuter DAISHIN SECURITIES CO plans to issue two million 1,000-won shares at par to British and Japanese securities companies in June. Daishin officials said WI Carr Sons and Co Overseas Ltd of Hongkong, a unit of London-based broker WI Carr, and Yamaichi Securities Co of Japan,Reuter - 59 words
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429 1985-03-09 9 FT HITACHI, one of Japan's leading electronics companies, is to start assembling 5,000 video cassette recorders (VCRs) a month from July at its colour television factory in Hirwaun, South Wales. Company officials in Tokyo emphasised that the addition of a VCR assemblyFT - 429 words
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111 1985-03-09 9 Reuter MITSUBISHI CORP and Mitsubishi Electric Corp will set up a joint company on March 19 to develop the privately-operated telecommunications satellite business. A Mitsubishi Corp spokesman said the new company, Space Communication Corp, capitalised at 100 million yen ami 75-per-cent owned by MitsubishiReuter - 111 words
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244 1985-03-09 9 AP SAUDI ARABIA'S general petroleum and mineral organisation Petromin has awarded Japan's Chiyoda Petrostar Ltd the US$l6O- contract for building its second lubricating oil refinery. The contract for Lubres-2 will be signed later this month, and the construction period was fixed at 27AP - 244 words
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Page 9 Advertisements
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Advertisement707 1985-03-09 9 tea* m rM f ;'V,< <SMI H ilf m M > m,.i mmgaew sffpaTw i Lai Zi,—il s&mmg*® SPr i: :•> n&4NHHHF:S9 -> >" P ear<i «*so v 3 L JL_ Up the staircase at Jhe Century flak Sheraton Follow the sweep of the curving staircase of the Century Park707 words
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Advertisement107 1985-03-09 9 At COFFEE GARDEN... HONG KONG DIAN XIN, NOODLES AND CONGEE. SPECIAL ROASTS* AVAILABLE TOO! Also available round-the-clock are delectable local and continental cuisines. *5* 'Koatkmt from Ham 3pm i 6pm llpm Set Breakfast Special* of Porridge A Dian Xin available M M 19 Cairnhill Qrde JT&w.w"" 1 Singapore 0922 Td:107 words
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SHARE INFORMATION
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Article, Illustration4224 1985-03-09 10 THE SINGAPORE stock market closed mixed in heavy trading yesterday. The main market indices were slightly lower as blue chips continued to suffer from profit-taking. The BT Composite Index edged up 0.40 point to 757.79 while the Straits Times Industrial Index fell 3.03 points4,224 words
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Article252 1985-03-09 10 SINGAPORE Rises Indices Sn«iyo«Q 50< 250 Duff Do* S60 A Entorpraoi 406 M«n HUfi 470 l«rj— 1» 402 H Looog Crodrt 610 Too, Maag 290 Gmril Corp 214 Supnim Corpn 188 Lmd| Hoot 110 M I F HUft 50* 199 AOM 177 HUM M 342 52 45252 words
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Article4281 1985-03-09 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets in lots of 1,000 units unless otherwise specified. All Time Settlement Contract» are quoted after the word "SETT".4,281 words
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COMPANY NEWS
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CHART POINT
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Article, Illustration177 1985-03-09 11 By HOCK LOCK SIEW A PROMINENT feature of last week's trading was the comeback of many Malaysian counters, especially the more speculative ones. It is hardly surprising too; investors are now beginning to shift their focus onto these once-neglected stocks as bullish noises seem to beBy HOCK LOCK SIEW - 177 words
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Article128 1985-03-09 11 MARKET OUTLOOK: It is difficult to say how investors are likely to react to the Budget, but the market's undertone remains decidedly firm for the short to medium term. If its performance in the past couple of weeks is any indication of what the market can do,128 words
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92 1985-03-09 11 WEARNE Brothers Ltd has acquired, on a willing buyer, willing seller basis, some of the production facilities and related inventories for the manufacture of floppy disk drives from Micro Peripherals Singapore. The price paid for the assets was not disclosed but Wearnes said the transaction is92 words
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Article95 1985-03-09 11 HONGKONG Hang Seng Index Friday 1395.27 Thursday 1389 14 Week ago 1401.15 Australian Industrials Friday 1165.6 Thursday 1176.9 Week ago ***** NEW YORK TOKYO Tokyo Dow Jones Friday *****.53 Thursday *****.80 Week ago *****.14 Dow Jones Thursday 1271.53 Wednesday 1280.37 Week ago 1284.01 Standard ond Poors Thursday 179.5195 words
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Article966 1985-03-09 11 EQUITIES in London opened mixed but with a slightly easier bias following the lower trend on Wall Street overnight. The FT-SE 100 Index at 1000 GMT was down 0.3 point at 1,285.5 while the FT 30-Share Index was down 1.5 point at 966.1. Hawker Siddeley dropped 28p to966 words
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176 1985-03-09 11 FT SIR YUE-KONG PAO, whose property group, Hongkong A Kowloon Wharf A Godown Co, is making a HK$2.5 billion bid for Wheelock Marden, has asked for representation on the Wheelock board. His request was rebutted by the present board with theFT - 176 words
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Article672 1985-03-09 11 Plantation division is main contributor THE BOUSTEAD Holdings group has posted a slightly improved set of results for the six months ended Dec 31, 1964, thanks to its plantation division. Boustead recorded an unaudited group pre-tax profit of M 525.33 million compared with $24.76 million for the672 words
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308 1985-03-09 11 MARKET ANALYSTS gave mixed opinions on the likely effects of the Budget on the Singapore stock market when it opens on Monday. Some were disappointed that there were no income or corporate tax cuts to boost consumer spending and corporate earnings. Others complained that308 words
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Article217 1985-03-09 11 Monogers' prices for Mar 9 11 MARA Bumiputr* First B'putra 5./2 5.77 Second B'putro 5 165.21** Singapore Unit Trust Thrd B'putra 4 14 4 19 Fourth B'putro 462 4 67 Th« Commerce 2.3! 245 Fifth B'putro 3.14 3 19 S«th B putro 3 02 3 07 Seventh B'putro217 words
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LATEST
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Article43 1985-03-09 11 (8) Group taxable profits of $11.64 million ($18.43 million) on turnover of $119.8 million ($124.22 million) for the year ended Dec 31, 1964. The company is paying a final dividend of 10 cents gross per share on May 20.43 words
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266 1985-03-09 11 SHARE PRICES closed mixed on lack of followthrough support on the Kuala Lumpur stock market yesterday. Although trading was active, most of it was centred on selected issues, some of which finished moderately higher. Share prices opened on a steadier note but thereafter266 words
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Article2631 1985-03-09 11 VOUSTMALS Acmc (1 856) A Choc (2 806 2.815X3) 2.82 (4) 2.81 (8) 2.80 AMD (3 328X12) 3.20 0 4) 3.22 Alcooi (1.635X10) 1 63 (24) 1.61 (5) I 60(25) I 62 AISS (4 346X1) 4 00 (4) 4.10 (I) 4.12(4)4.20 API (1.188) (22) 1.202,631 words
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YESTERDAY IN PARLIAMENT
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498 1985-03-09 12 MR JEK Yeun Thong yesterday hit back at the PAP for putting down his "fun and games" criticism. Without attempting to be amusing this time, the former ambassador to Britain accused senior ministers of making "a mockery of this House"498 words
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Article82 1985-03-09 12 THE SINGAPORE United FYont is unlikely to accept a nonconstituency seat in Parliament offered to its chairman, Mr Tan Chee Kien. A final decision will be made at a meeting of the 12-member central executive council tomorrow, but party vice-chairman Mr Mansor Rahman said most82 words
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107 1985-03-09 12 ROWDY and disorderly debates in the past few days have perturbed the Speaker, Dr Yeoh Ghim Seng. Dr Yeoh said yesterday that some new MPs as well as some who were not so new seemed to be unclear about standing orders regarding their rules of107 words
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Article114 1985-03-09 12 DISCLOSING all the tender prices for HDB commercial units would lead to manipulation and abuse by tenderers, said Mr Teh Cheang Wan. The Minister for National Development, in reply to a question on why only the highest bids were made known, said tenderers sometimes submitted more114 words
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Article289 1985-03-09 12 "IS OUR conscience clear?" Members of Parliament were advised to ask themselves this question now that the "sound and fury" of five days of parliamentary debate had subsided. In summing up the speeches and rebuttals by more than 40 MPs who aired their views on the289 words
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Article404 1985-03-09 12 GOVERNMENT COMPANIES: The Government now owns 24 companies with a total paid-up capital of more than $1.35 billion. It also has a partial interest varying from 12 to 86 per cent in another 35 companies with a total paid-up capital of more than $3.25 billion. These404 words
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284 1985-03-09 12 INDUSTRY LEADERS called it a businessman's Budget but several had suggestions for the government to reduce operating costs further. The Singapore Federation of Chambers of Commerce and Industry (SFCCI) praised Finance Minister Dr Tony Tan for his "concern and284 words
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Article79 1985-03-09 12 SINGAPORE HAS condemned Vietnam's latest acts of aggression and supported Thailand's actions to protect its territorial integrity. A statement from the Ministry of Foreign Affairs said: "Singapore regrets that Vietnam has not responded to the recent call by the Asean foreign ministers to provide a conducive atmosphere so79 words
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217 1985-03-09 12 NEW ZEALAND'S Prime Minister David Lange has seen his visit to Singapore and Malaysia as timely and important in correcting some misconceptions about his country's nuclear policy, in the wake of the current Vietnamese incursion into Thailand. Mr Lange said that besides having been217 words
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165 1985-03-09 12 THE Mass Rapid Transit Corporation will appoint inspection agencies for all the 16 electrical and mechanical contracts that it has awarded so far, except for Contract 176 under which work wagons will be supplied by Daewoo Heavy Industries Ltd. The corporation said yesterday that three165 words
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450 1985-03-09 12 BUDGET COMMENTATORS lined up according to whether they had been helped or hurt last night. The middle view was taken by Dr Augustine Tan, MP, and senior lecturer, economics department, at the National University of Singapore. He said that the government had450 words
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Article69 1985-03-09 12 WALL STREET stock prices were mixed in the first few minutes of trading yesterday. The Dow Jones Industrial Average was up slightly about 3 Vi points to just over 1275. In the broader market, declining issues held a narrow lead over gainers. Volume on the New69 words
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LATE FILE
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Article45 1985-03-09 12 Reuter THE PRO-HANOI People s Republic of Kampuchea (PRK) in Phnom Penh yesterday denied Thai charges that Vietnamese forces had intruded into Thailand. The SPK news agency, monitored in Bangkok, said: "Neither PRK forces nor Vietnamese volunteers have violated Thai sovereignty."Reuter - 45 words
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31 1985-03-09 12 AFP POLITICAL tension mounted in Seoul yesterday as the new hard-line opposition party backed its leader's demand that President Chun Doo-Hwan step down next year. AFPAFP - 31 words
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Article36 1985-03-09 12 AP OPPOSITION efforts at unity suffered a setback yesterday when a group that includes the widow of assassinated former senator Benigno Aquino said it would not join an opposition convention this weekend.AP - 36 words
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Article49 1985-03-09 12 Reuter US HEALTH authorities are concerned about the safety of fragrant, clove-and-tobac-co Indonesian cigarettes called kreteks, whose US sales reached 100 million last year.' Dr Frederick Schechter has assembled four cases in which teenagers who smoked kreteks subsequently came down with severe pneumonia-like illnesses. ReuterReuter - 49 words
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Article63 1985-03-09 12 Reuter A WILD SCRAMBLE for funds by New Zealanders needing cash to pay their taxes sent short-term interest rates soaring to record levels yesterday. The central bank attempted to restore calm by injecting dollars into the money market on a frantic day when overnight interestReuter - 63 words
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Page 12 Advertisements
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Advertisement81 1985-03-09 12 CONGRATULATIONS LTX CORPORATION ON THE GRAND OPENING OF THEIR NEW OFFICES AT BOON SIEW BUILDING, 75 BUKIT TIAAAH ROAD. Mr. Con Foley, Regional Manager, LTX Corporation, "With Businessworld, we have got the top quality of Steelcase Series 9000 furniture system and truly exemplary service, on time and within budget. The81 words
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Advertisement383 1985-03-09 12 VBAT/ British-American Tobacco Company (Singapore) Ltd. ANNOUNCEMENT AUDITED RESULTS The Directors are pleased to announce the following audited results of the Group and the Company for the year ended 31 December 1984. THE GROUP THE COMPANY Turnover Operating Profit Investment and Other Income Interest Paid Share of Results of Associated383 words
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Page 12 Miscellaneous
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Miscellaneous56 1985-03-09 12 Outlook for today: showers in several areas in the late afternoon and early evening. Report for 24 hours prior to 7.30pm on Morch 8 at the airport: Maximum temperature 31.7 Associated humidity 70 Minimum temperature 24.0 Associated humidity 92 Hours of sunshine 5.00 Roinfoll in millimetres 1.4 Rainfall this month56 words
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