The Business Times, 25 May 1985

Total Pages: 12
1 12 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 99/1/85 SATURDAY, MAY tt, IKS 60 CENTS
    12 words
  • 546 1  -  Taiwan also mentioned in 'critical' list By LEE HAN SHIH SINGAPORE has been singled out by the US Department of Commerce as one of the two most undesirable countries for software exports. A report compiled by the department said software piracy in
    546 words
  • 313 1 BARELY A WEEK after the official opening of its first joint venture in China, a Singapore marine and welding engineering company has announced that it will enter two more joint ventures there. The first joint-venture, Metalock-Shanghai Ocean Shipping Repair Dockyard Corporation, was opened
    313 words
  • 431 1 Reuter CHINESE leader Deng Xiaoping said yesterday the country must tread carefully in implementing its economic reforms and should not aim too high. But he asserted that the latest urban and industrial reforms were developing healthily, despite concern over an
    Reuter  -  431 words
  • 75 1 AP TWO BUSINESSMEN were charged yesterday in a Hongkong magistrate court with conspiracy to defraud shareholders of the now-defunct Carrian Investment Ltd. Rogerio Lam and his brother, Stephen, former directors of Bylamson and Associates, were charged with allowing the publication of a false statement by Carrian
    AP  -  75 words
  • Article, Illustration
    73 1 nrniiarff t§ depreai the market yesterday battelmm to rfagMLrit Agues. Ike toy was marked by tfcin featareteas trm WTth the avecbaaght pastes earreetod aad the apariar* af the aew settlemeat perted, maay inkers are predtetiag the market te be firm aext weak. n Cafirtu Mas fled 2.» palate
    73 words
  • 518 1  -  By BRIAN GOMEZ THE MOTOR Trades Association of Singapore wants the government to "rethink" its policy of raising motor costs because some of the effects have not been anticipated. According to the MTA's honorary secretary, Mr Tan Hup Foi, the
    518 words
  • 221 1 A PROPOSED special fund for unionised workers drew strong criticism from two diverse directions yesterday. Two personalities which could hardly be associated with each other Mobil's outgoing chairman Dorsey Dunn and opposition Member of Parliament J B Jeyaretnam said in separate interviews
    221 words
  • 296 1 EIGHT Singapore banks are taking part in a US$2OO million note issuing facility (NIF) launched this week by Credit Suisse First Boston (Asia) Ltd on behalf of the Sydney-based State Rank of New South Wales. The state-owned Australian bank had specified that
    296 words
  • 244 1 Reuter FOREIGNERS will be able to buy shares in state-owned industries which Pakistan plans to sell, but the rich families who originally owned them will not be allowed to regain control. Finance Minister Mahbubul Haq said yesterday that the country planned to
    Reuter  -  244 words
  • Page 1 Advertisements
    • 186 1 ASIAPRINT '85 4th International Exhibition of Printing, Graphic Arts Equipment Supplies. ASIAPRINT ZS3 JUNE 20-23 WTC STORE THE CLUB THAT STANDS IN A CLASS OF ITS OWN A Afiizuia ALL STAR POLARIS For woods, the heads are crafted from fine persimmon wood and dual weighted for consistent accuracy. The irons
      186 words
    • 262 1 mm SHAKE INFORMATION SHIPS IN PORT MONEY EXCHANGES SINGAPORE con expect to exploit further its trode links with Chino, judging from the tremendous response to the one-day seminar on business in Chino organised by the Hongkong Bank yesterday. Page 2 PAKISTAN'S civilian government hos presented aoudget that reduces taxes, taps
      262 words
    • 168 1 tA M| Jfjl IfifUti rip IU Bsck }\).<&_;/(;.-\>>-+.|/-%;|=}:>\% You don't need to have Special Qualifications to be a Director.... But you have to know your DUTIES and LIABILITIES 7 J N V X s DIRECTORS' DUTIES AND LIABILITIES Cuttmrint T&y, Lecturer, National University of Singapore Tang S— CNm, Legal Practitioner
      168 words
    • 18 1 ASIAPACK'BS jpMjjj] 4th International Exhibition of Packaging Machinery |lps>J Materials And Food Processino Machinery JUNE 20-23 WTC STORE ;(~,"=(,>|&']?|*/&)'/+>^\<)^^*>
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  • HOME NEWS
    • 591 2  -  Singapore-China trade hit $3.5 billion last year By AMY BALAN SINGAPORE can expect to exploit further its trade links with China, judging from the tremendous response to the one-day seminar organised by the Hongkong Bank yesterday. A full turnout of 500 invited guests, including a
      591 words
    • 177 2 BATAM ISLAND'S incentives for attracting investors will be discussed in a seminar on Friday, May 31. About 70 executives from Singapore and Indonesia are expected to attend the seminar to get first-hand information on the practical aspects of setting up a business in Batam.
      177 words
    • 563 2  -  By JAIME LYE CLUB MEDITERRANEE's expansion in the Asia-Pacific region will benefit Singapore as its guests are likely to stop over here. In 1967, when three new Club Med resorts would have opened, about 100,000 bed nights would be
      563 words
    • 419 2 COMPANIES with factories on land leased from the Housing and Development Board are not charged twice few their property taxes, said the HDB yesterday, in response to complaints by some lessees at Defu Industrial Estate. These lessees had alleged that both the HDB and the
      419 words
    • 928 2 Ship Delicto Thoi Poilin Mediterraneo Vira Bhum E Giant Paithoon Jenwel Harvester RR Ratna Sea Fortune New Genstar B Kemuning B Melor B Mas E Trust B Butang Sea Glory Asia Star Chengtu B Penaga P Madison Regina Ms Ratana Bhum A Alabama Orient Maru N Obukhova
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    • 141 2 THE NEW income ceiling of the Housing and Development Board has attracted 143 more applicants in less than a month. Of the 3,153 new applicants for public housing since the announcement on April 26 of the new income ceiling, 143 applicants are within
      141 words
    • 350 2 CITIZENSHIP application procedures will be simplified when new citizenship rules come into effect on June 1. But rules regarding eligibility for citizenship will remain unchanged. The issuing of new citizenship rules is basically a tidying up process, revoking what is now redundant and simplifying some of
      350 words
    • 116 2 RESIDENTS of Chong Boon constituency will have another community centre and two residents' committee centres soon. Mr Chandra Das, MP for Chong Boon, said yesterday that two more RC centres and a void deck community centre would be ready for use shortly. The
      116 words
    • 268 2 THE OPENING UP of China has also opened up strong profit potential for one company specialising in bridging the language gap. Providing translation and interpreting services for businessmen wanting to do business with China helped to make 1964 the best year
      268 words
    • 309 2 HEWLETT Packard, the American computer manufacturer, this week launched an array of hardware and software in its thrust into the market for office automation equipment. The centre of its office automation strategy is its new upgraded personal computer that can work by the touch of the
      309 words
    • 132 2 SIX FINAL-YEAR marine engineering students from the Singapore Polytechnic have been awarded the 1985 Esso Marine Scholarships. Each scholarship is worth (1,500 and does not carry a bond, Esso said yesterday. Mr Thornton Milton, marine «nrf supply director of Esso Singapore, presented the awards yesterday to Low Yang Joo, Wee
      132 words

  • OVERSEAS
    • 225 3 AP Reuter ALTHOUGH the trade of industrial countries increased last year, it still lagged behind the level of 1960, according to latest figures published by the International Monetary Fund. "Higher levels of domestic activity in the industrial world have spurred a strong recovery
      AP; Reuter  -  225 words
    • 127 3 AP JEAN-CLAUDE PAYE, direc-tor-general of the Organisation for Economic Cooperation and Development, has warned that Japan's trade surpluses could lead other nations to adopt protectionist measures that would threaten the world trade system. Mr Paye also called on members of the organisation, based in Paris,
      AP  -  127 words
    • 147 3 FT BRITISH Prime Minister Mrs Margaret Thatcher has written to her Japanese and Turkish counterparts asking that UK companies be given some of the subcontract work on the £450 million (U*****.5 million) Bosporous bridge project. The letter to Mr Yasuhiro Nakasone was not published
      FT  -  147 words
    • WORLD IN BRIEF
      • 50 3 PRESIDENT Marcos has asked his opponents to spare his wife Imelda from personal attacks, saying she is not the one who will run for president. Mr Marcos told a group of university presidents yesterday that \> criticisms that Mrs Marcos was greedy for power had made her
        50 words
      • 69 3 ISRAELI Prime Minister Shimon Peres yesterday called on his Cabinet ministers to end a stormy debate over whether the state should pardon accused Jewish terrorists, saying that the controversy was endangering the Israeli judicial system. i The arguments erupted after Monday's lopsided prisoner swap when Israel
        69 words
      • 61 3 THE Chinese Communist Party will never conclude secret agreements with communists elsewhere or im- pose its will on other parties. General secretary Hu Yaobang told a delegation from the Dutch Communist Party yesterday that his organisation would give "unswerving" moral support to communist and workers' parties willing
        61 words
      • 50 3 NEARLY half the black children in the US were living in poverty in 1983. A US congressional study says that 22 per cent of all people under the age of 18 residing in the US in that year lived in poverty, the greatest proportion since the *****.
        50 words
      • 63 3 Agencies ONLY FIVE tigers remain in the wild on Indonesia's main and overcrowded island of Java, says Population and Environment Minister Emil Salimh, and Indonesia is now trying to save the species by dumping slaughtered goats and chickens in the region. Deer is also being raised
        Agencies  -  63 words
    • 178 3 UPI AP PORTUGUESE President Antonio Ramalho Eanes said yesterday that problems remain to be resolved before Portugal delivers Macau to communist Chinese rule, but China's top leader Deng Xiaoping disagreed. The divergence of views emerged less than 24 hours after China and
      UPI; AP  -  178 words
    • 460 3 Pakistan's budget aims to cut taxes Reuter PAKISTAN'S civilian government has presented a budget that reduces taxes, taps the country's vast sums of illegal earnings and launches a movement towards a freer economy. Finance Minister Mahbubul Haq on Thursday read the first budget to be debated
      Reuter  -  460 words
    • 79 3 Bernama A TOTAL OF 14,000 Malaysian artisans in the public sector will picket nation-wide from next Thursday if the government does not come up with a positive decision on their salary and service scheme claims. Congress of Union of Employees in Public and Civil Service (Cuepacs)
      Bernama  -  79 words
    • 574 4 ARRIVALS Operator Strvict numtxr Local time From PAA SV CAL SIA CV MAS KAL MAS MAS MAS AC CAL RBA SIA CPA GIA SIA SIA THAI SIA MAS GIA SIA MAS SIA GIA THAI SIA GIA THAI SIA SIA SIA KLM CPA MAS MAS SIA UTA SIA
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    • 362 4 House wants slower military build-up Reuter A BUDGET devised by the opposition Democrats and passed by the House of Representatives would slow down slightly US military buildup for the first time since President Reagan took power four years ago. But the budget, approved by 258 votes
      Reuter  -  362 words
    • 138 4 Reuter EUROPEAN Economic Community external relations commissioner Willy de Clercq has urged the US to avoid "gunboat economics" in its relations with trade competitors and resist growing domestic protectionist pressure. "The US can no longer go it alone," he said, adding that the EEC
      Reuter  -  138 words
    • 142 4 Reuter THE BRITISH government has opened up new deep water and frontier areas to oil and gas exploration through the award of conditional licences for 80 offshore blocks. Energy Minister Alick Buchanan-Smith said yesterday that the total number of blocks awarded licences in the
      Reuter  -  142 words
    • 119 4 Reuter BRITISH Chancellor of the Exchequer Nigel Lawson has called the latest sharp increase in sterling M 3 money supply erratic. He told Parliament yesterday that a major factor behind the rise was accelerated corporate borrowing to take advantage of tax breaks on capital spending
      Reuter  -  119 words
    • 176 4 Reuter THE US federal budget registered a surplus of U5512.37 billion in April, slightly larger than the surplus of $11.49 billion in April of last year, the Treasury said in a monthly statement. In March, the budget was in deficit by $28.46 billion. Last
      Reuter  -  176 words
    • 77 4 Reuter AMERICAN Treasury Secretary James Baker said the administration's tax reform proposals will not undermine the process of capital formation and will encourage entrepreneurs. "I think you'll see that we are very conscious of the capital formation prob- lem" and the importance of stimulating entrepreneurship, he
      Reuter  -  77 words
    • ECO-NOTES
      • 70 4 THE NEW ZEALAND government said it would extend its 67.5 per cent tax allowance on export market development costs to March, 1987. It said the incentive would fall to 61.5 per cent in the year to March 1968, 56 per cent in 1988/89, 50.5 per cent in 1969/90
        70 words
      • 57 4 TIGHTER foreign exchange controls in China have caused a plunge in export orders for Taiwan goods from Hongkong, a major trans-shipment centre for indirect trade. An official report showed that traders from Hongkong placed US$l9O million worth of orders with Taiwan factories in April, a drop of
        57 words
      • 80 4 Sino-US trade for the first quarter of 1965 rose 20 per cent from the same period a year ago. The US embassy in Beijing said on Thursday bilateral trade in January-March was U551,732 billion, compared with U551,444 billion in the first quarter of 1964. The figures showed
        80 words
      • 45 4 CHINESE peasants will start paying taxes in cash this year. The finance ministry said on Thursday: "The new policy makes it more convenient for peasants, who are increasingly turning to various kinds of commodity production rather than farming, to pay their taxes."
        45 words
      • 63 4 THE US Commerce Department has changed its regulations on export licences so as to tighten controls preventing the transfer of US high technology to countries regarded as not being friendly. Under the new regulations, effective from July 24, companies with distribution licences will themselves have to exercise tighter
        63 words
      • 65 4 Agencies THE AMERICAN steel industry must further reduce overhead expenses, including labour costs, and continue a painful contraction that has closed about 20 per cent of its capacity since 1977. Mr Donald H Trautlein, chairman of the American Iron and Steel Institute, said at a news conference
        Agencies  -  65 words
  • Page 3 Advertisements
    • 244 3 1 An affiliate of ORi International, a consortium of professional consultants offering a comprehensive range of organization development (OD) services. HUMAN RESOURCE DIRECTOR SALARY: $150,000 Annual Package Ref No: ES 1550 A top calibre professional with an excellent record in personnel management is invited to assume the position of Human
      244 words
    • 111 3 If you had a fleet of Rolls -Royces, wouldn't you keep them in good shape? As the only, major airline with an all Rolls-Royce powered fleet, we re understandably fussy about the way they're maintained. The care and attention to detail we lavish on our fleet, has made Cathay Pacific
      111 words
  • Page 3 Miscellaneous
    • 40 3 Doonesbury m T 71 <S ft St 1 m s JS 3 1 I ri ft «i BY GARRY TRUDEAU ff 1 1 II i/' //J »i yfi i^p i*ifff/i i i <*[ I Wl? I MJlfll Sio y j Id
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  • RAW MATERIALS
    • 139 4 Chinaaa Produce Exchange (Sellers' noon dosing prices on May 24. SVIOO kg). Coconut oil Bok FOB 128.00 OW drum FOB 141.00 New drum FOB 145.00 Copra Mixed (loose) 65 buyers Pepper Muntok White FOB NLW 870.00 Sarawak White FOB foq NLW 860.00 Sarawak special block FOB NLW 730.00
      139 words
    • 275 4 Singapore (Ss/kilo, ex-godown) Fragrant new crop Ist 086 2nd 0.64 3rd 0.60 New Crop 25% no stock 10% no stock Thai Broken A-super 0.56 Special 0.54 Thai Rice 55% no stock China Rice 10% 0.87 15% no stock 25% no stock 35% no stock Thai Boiled Rice 5« 060
      275 words
    • 111 4 THE Kialft Lam par Tin Market price rese six cents to M$2tJC a kc yesterday, still wttkla toe International Tin Agreement lewer ruge ef 121.15 to $XLH. The kilter stock muager ceo tinned kls strong support by taking abeut 5$ per cent s( the disposals. Malaysian and Japanese
      111 words
    • 160 4 Yarn (In HK$ per bole of 400 lb) China carded yarn, cones Blue Phoenix I 6's 2,550 Blue Phoenix 20's 2,700 Blue Phoenix 32's 3,150 Blue Phoenix 40's 3,550 Corded yarn, hank Blue Phoenix 21 's 2,900 Combed yarn, cones Blue Phoenix 32's 4,250 Blue Phoenix 40's 4,400 Open-end
      160 words
    • 173 4 SINGAPORE The market closed easier yesterday with June One RSS buyers quoted at 169.00 cents per kg, down 1.50 cents from Thursday. The morning session weakened by 0.50 cents due to some speculative selling and long liquidation. Prices feD further in quiet afternoon trading on continued speculative selling and
      173 words
    • 338 4 RAS prices in S cents/kg, FOB in b ales NOON CLOSE tuytrs Sellers Buyers Sellers Int 1 RSS Prompt 171.00 I72.00N 170 00 171 00N int 1 RSS June 85 170.25 171.75 169.00 169 50 Int 1 RSS Juty 85 170.25 171 75 169 00 169.50 Int
      338 words
    • 171 4 MALAYSIAN crude palm oil prices closed lower yesterday but finished above the day's lows after late covering was sparked by talk that India was still in the market for more processed palm oil. Sentiment was earlier dampened by lack of interest for nearby positions after India's tender for
      171 words
    • 125 4 SOYBEAN futures on the Chicago Board of Trade rallied near the close on Thursday to post new day's highs, but gains were only IVi to Vt US cent a bushel. July ended near the top of a 3V«-cent range. In thin trade, professional house buying emerged in the afternoon
      125 words
    • 134 4 WHEAT FUTURES on the Chicago Board of Trade closed mostly higher on Thursday, up as much as V/i US cents a bushel in nearby July. That contract closed at the top of its 2'/«cent range. Soft red winter wheat harvesting in the southern states has been delayed somewhat by
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    • 99 4 (cents/kg, 1-ton 85 JULY 85 (current month) (forword month) NOON NOON RAS Buyen Sellers Buyer} Sellers SSR 20 164 00 166 OON 166 00 168 00N SSR 50 ***** 164 OON 164 00 166 OON MRELB Sellers Buyers Sellers SMR CV 212 50 214 50N 214.50 2I650N
      99 words
    • 758 4 COFFEE Robusta futures ended at or near session highs on Thursday afternoon and with gains from the previous close of £35 to £18. July finished at the day's high at £2,116, up £34. Easier sterling against the dollar supported prices during most of the session, but closing gains
      758 words
  • Page 4 Advertisements

  • BANKING AND FINANCE
    • 253 5 Reuter THE US dollar closed lower in New York on Thursday, unable to recoup the losses it sustained after a rash of rumours, later denied, that Argentina had nationalised its banks. "The rumours drove the market crazy," said Patrick Griffin, chief corporate dealer
      Reuter  -  253 words
    • 100 5 Reuter THE ARGENTINE central bank has denied rumours circulating in the US that the government of President Raul Alfonsin plans to nationalise private banks. "It is absolutely false," said a press spokesman for the central bank on Thursday. A high-ranking central bank official who asked not
      Reuter  -  100 words
    • 118 5 Reuter A TEAM of Argentine negotiators flew to Washington for talks with IMF officials on a 1.42-bil-lion SDR standby needed to unlock a US$4.2 billion package from creditor banks and service interest arrears. Central bank sources said the team was led by chief negotiator
      Reuter  -  118 words
    • 597 5  -  Conditions for a true lease fraught with difficulty By ALVIN TAY TWO PROMINENT financiers have attacked the leasing guidelines proposed in the 1962 budget but which have still not been implemented, especially the distinction between a true lease and a sale agreement. Mr Peter Nevitt, chairman
      597 words
    • 240 5 MIDLAND Bank shareholders have approved a proposal for the bank to acquire full equity ownership of Crocker National Corporation at an extraordinary general meeting in London. Crocker's common stockholders voted in favour of the proposal at a general meeting in
      240 words
    • 260 5 Reuter SENIOR Latin American government officials and financial experts have supported a proposal for converting at least a third of Latin America's US$96O billion foreign debt into long-term, low interest bonds. The president of the Peruvian Senate, Mr Manuel Ulloa, said in
      Reuter  -  260 words
    • 105 5 Reuter THE FEDERAL Home Loan Bank Board (FHLBB) has conditionally approved four more applications by Maryland savings institutions for federal insurance. The four institutions had been among the 102 privately-in-sured Maryland thrifts under a state order to limit withdrawals to US$l,OOO a month. The board
      Reuter  -  105 words
    • 338 5 Reuter THE UK Treasury said its targets for money supply would be calculated on a 12-month growth rate, or year-on-year basis, in future. The actual targets, however, for the 1965/86 year ending next March are unchanged from those announced in the
      Reuter  -  338 words
    • 224 5 A SINGAPORE delegation of nearly 50 money managers and dealers will go to Toronto next week to attend the annual congress of the International Forex Club. Led by Mr CMukundan, the team comprises members of the Forex Association of Singapore (FAS). The
      224 words
  • MONEY AND EXCHANGES
    • 560 5 SINGAPORE The US dollar closed mixed against most major currencies after fluctuating within a narrow range throughout yesterday. The dollar closed slightly firmer at 3.0740/55 marks compared with New York's 3.0705/35 close, at 2.5860/80 Swiss francs against 2.5800/40 but weaker at 250.80/90 yen compared with 251.20/30. Sterling closed
      560 words
    • 83 5 RESULTS of tender held yesterday for: 91-day Treasury bills to be issued from May 28 to May 31. Offered: $70,000,000. Applied far: $167,000,000. Allotted: $70,000,000. Accepted kids: $99.30 approximately 38 per cent; higher bids in full. Average rate ef dlseeut m allatmeat: 2.780 per cent per annum. 182-day
      83 words
    • 104 5 THE OVERNIGHT rate on the Singapore interbank money market rose by Vipoint from Thursday to Close at 5Vi per cent yesterday. The one and threemonth term rates fell Vfcpoint each while the twomonth rate fell by 1/16 point Interbank rotes at 3pm yesterday: Offer M Ov«f night 5
      104 words
    • Article, Illustration
      268 5 Asian market ASIAN dollar deposit rates closed steady at opening levels in quiet trading yesterday. Rates remained steady throughout the day with one, three and six months closing at 7-13/16 7-11/16, 8-1/16 7-15/16 and 8-5/16 8-3/16 per cent respectively. Short-dates were little changed at earlier levels of a common 7-13/16
      268 words
    • 208 5 Interbank rates at 3pm yesterday: Local dollar* to 0M unrt of tor—gn qa««*d ft elocday a <aoo parity US dolor Sterling pound Australian dolor NZ dolor Conodion dolor 2.2210 2.8140 2.2220 2.8174 2.8196 7.3469 -21.23 -61.70 1.5147 1 0027 1.6188 1.5176 1.0054 1.6207 3 4286 ***** ***** -55
      208 words
    • 312 5 BA Futures EURODOLLAR futures opened higher yesterday than the Thursday CME close but profit-taking saw prices slipping lower in quiet trading ahead of the long weekend. However, the market was still supported by the bull trendline thus limiting further decline. The September contract closed 4 ticks higher at 91.23.
      BA Futures  -  312 words
    • 176 5 HONGKONG: The metal closed higher yesterday in active late trading supported by some short-covering. Bullion ended at U*****.70/317.20 an ounce, near the day's high, compared with New York's $315.50/316.00 close and the $315.00/50 finish here on Thursday. On the local market, gold rose HK$l5 to close at $2,939 a
      176 words
  • Page 5 Advertisements
    • 120 5 INTERNATIONAL TRUST FINANCE LIMITED (Incorporated ui (he Republic of Singapore) Earn higher interest in Fixed Deposits 12 months 6% %p.a. 9 months 6Va% p.a. 6 months 6 p.a. 3 months 5 3 A p.a. 1 month 5 1 /2 p.a. a a -a neea umcti 76, Shenton Way, #01-01, Ong
      120 words

  • TIME-OFF
    • 520 6 WINE TASTINGS lack spectator appeal. Half a dozen nattily attired buffs stand around a table on which are displayed unlabelled, anonymous bottles of vin rouge and vin blanc. From time to time, one of the experts will roll a small glassful round his tongue and,
      520 words
    • 848 6  -  By ALVIN TAY WITH SUMMER on the way in Europe, the globe-trotting Singaporean will be packing his bags for a European holiday. Those on a shoe-string budget may want to visit as many countries as possible in one trip. Others may prefer to visit one country and
      848 words
    • 241 6 THE EARS, nose and throat have always been grouped together and people with problems in these parts of their bodies usually consult the same medical specialist. A rarer grouping, though, is the eyes and the teeth. But it appeared in Serangoon Gardens when a dentist recently
      241 words
    • 1149 6 What's on from May 25 31 A* CONCERT: Singapore Symphony Orchestra with soloist Nigsl Konnsdy. Victoria Concert HaH. 8.15pm. Tickets: $4, $6, $10 and $15. Nigel Kennedy, 28, comes from a family of distinguished cellists. He attended the Yehudi Menuhin School at the age of seven to study the
      1,149 words
    • 143 6 THE PRESENCE of extensive Buddhist ruins distributed wid*ly across th* whol* of th* Indian continent spoaks of a culture that was rich, vibrant and uniqu* in content. These remains were once moneateries and atupas. There are apparently four places in India that ahould be visited if you
      143 words
  • Page 6 Miscellaneous
    • 777 6 iai j d CRYPTIC PUZZLE ACROSS 9 Behind here, with a tram moving out (2, 3, 4) 10 Besides having further material on the next page (8) 12 Sing in the tube (4) 13 Hang about ond the man, love, wiM return (6) 14 Film the two of us getting
      777 words

  • SPORTS
    • 688 7  -  By BRIAN MILLER FOR A MOMENT last week, when he ranged up to the leaders at the 200 m mark, Gibraltar Rock looked like he was going to make it a winning debut. With the wire just 50m away, the moderately-backed Aga-sam-owned runner with jockey
      688 words
    • 278 7 AFP JIM SIMONS sank three shots from off the green to take a share of the lead at the end of the first round of the US$6OO,OOO Memorial Tournament in Dublin, Ohio on Thursday. Simons finished the day with a somewhat erratic five-under-par
      AFP  -  278 words
    • 692 7  -  By WALTON MORAIS ITHNIN ZAIN, a 43-year-old golfer making a comeback to competitive golf, shared a fairytale lead in the opening round of the $25,000 Tiger Open golf championship at Sembawang yesterday. Zain, who returned to competitive golf only last year
      692 words
    • 500 7 THREE of the Republic's former Putra Cup members take to the Bukit course this weekend, aiming to roll back the years in the semi-finals of the Singapore Island Country Club matchplay championship. In what observers are saying is one of the most evenly matched semi-final
      500 words
    • 522 7 Reuter JOHN McENROE, the world's best tennis player, does not believe his failure to win the French Open can affect his place in the sport's list of all-time greats. He begins another attempt to win the French Open, the first Grand Slam tournament of
      Reuter  -  522 words
  • Page 7 Advertisements
  • Page 7 Miscellaneous
    • 1203 7 TO IMD GtiMD HIGHLIGHTS Foerie Tale Theatre The Emperor's New Clothes 8.30pm, Channel 12 A Hans Christian Anderson favourite about the man who so loved clothes that he was eventually duped by two scoundrels. He learns humility from a little boy who tells him the truth. This fairy tale stars
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    • 17 7 BnSt£W\'F*ai^l)icteas THINGS FSRe. TR\FijC\ SLPCX per TMO rnoonCMT J F»ND SOmG."T>mNG»To DO THC OfF»C£.. C' jg 2
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  • INTERNATIONAL STOCKS
    • 324 8 Reuter T BOONE PICKENS, who has frightened oil company executives with takeover threats for several years, has said the recent court ruling that doomed his bid to acquire Unocal Corp leaves him unsure of further takeover attempts. The Mesa Petroleum Co Inc chairman, who
      Reuter  -  324 words
    • 178 8 Reuter OLYMPIA and York Developments Ltd plans to acquire Chevron Corp's 60 per cent share erf Gulf Canada Ltd for over Cs3 billion. Olympia and York says it does not intend to make a offer to other Gulf Canada shareholders. Olympia and
      Reuter  -  178 words
    • 321 8 Reuter WALL STREET share prices retreated for the second day in a row on Thursday as the Dow Jones Industrial Average closed below the 1300 mark for the first time since hitting a record high earlier in the week. The average slid by 7.05
      Reuter  -  321 words
    • 150 8 MAY 23 a Imp CM 51 I9K -U AbM» 18* In* Ptov Pip* 39* Afcan 35V. 22V* Int Uti Kwt Add 21* 14* unch unch Argo«n Hk)g» 25* 3 LoMow 8 Mowy Farg 18 3 unch UKh 12% Mc BkxM 21 -to Mohan A 17* BP Cot Ltd 34*
      150 words
    • 236 8 MAY 23 M INDUSTRIALS Utvmc Wootworth 535 1650 MININGS 5 50 875 25 2875 -15 Abwcom AE And O 170 BOOB 5 Anglvoal 8600S 1425 -70 Amoprop fWtIC 470 3100 1250 inch 100 Butt ate Chart «r Cora Gold 460 1365 5 C G Smith 2650 50 Cora Mweh
      236 words
    • 646 8 MAY 23 USJ Aicon AJurrwi Alcoa Lud AJk»d Cham Cp Al*d Storm ABs-Chalmars Am Brandt Inc Am Broodcast Am Can Co Am Cyanarred Am Elac P*r Am Exprats Am Horn# Prod Am Motor* Cp Am Nolurd Gas Am Tal A Tat Amox he Amarodo Has* AMF he 25*
      646 words
    • 787 8 Amsterdam MAY 23 fh AflN 441.00 -I S 189 00x4 Ahold 221 20 -0 4 Akio 107 30 -0 9 amev 242 70 -0 1 A/nro Bonk 79 00 +0.8 52.20 mh Boh 93 30 uneh Borujmn 379 00 -5.8 Botkofa Bur Tat 91 50 -0 5 35
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    • 86 8 Reuter FINANCIER Carl Icahn has told the Securities and Exchange Commission that he would "explore alternative financing sources, including the possible sale of assets", if Trans World Airlines Inc's cash flow and earnings are insufficient to fund his proposed merger. Mr Icahn, in an amended 13-D
      Reuter  -  86 words
  • Page 8 Advertisements
    • 425 8 Wtoe Id wlm. nni eatertala I; #0S 4 X m L! •&±£jSSl~'"J} I HOTEL ASIA Many happy raturns 2 37 Scons Road. Singapore 0922 a Tat *****08 Tela* RS ***** HOIASIA i Novotel Orchid Inn Presents Indonesian Exotica I' W: o» >» fire v rS^ Kiin Ayam and Kari Kambing
      425 words
    • 114 8 London stocks, pogoll LouHge Enjoy the world's finest wine, while you relax in the cosy ambience of The Lounge. Make your nights memorable with the versatile quartet Body N Soul from the Philippines. They'll captivate you! Happy Hours: Spa 7pm. 2S%off all driaka. #PW^CEHDTEL •iMWtM 270 Orchard Road. Singapore 0923
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  • ASIAN STOCKS
    • 273 9 HONGKONG: Share prices closed lower yesterday as selling pressure mounted. The Hang Seng Index fell 20.46 to 1,596.84. Turnover was HKJ315.66 million compared with $298.23 million on Thursday. Cheung Kong and Hutchison fell 30 cents each to $16.40 and $23.60 respectively, China Light 20 to $15.80, HK Electric and
      273 words
    • 191 9 MAY 24 Al Shear* Indus HT S 130 unch +0.1 -0.5 •0.1 unch unch unch •0.1 Nan Yo Plot Pacific Com Pacific EJact Wlra 27 10 18.00 14.50 tmh unch inch 24.20 Poolung Papar I28N Chang Hwa Bank 49.50 Sharp ShMn Papar 17.00 0.1 CMo China Cham China Dav
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    • 385 9 TOKYO: Share prices fell in very active trading yesterday, driving the market average below 12,600 at the close for the first time since Monday. The market average closed down 55.28 at 12,593.85, slightly higher than the day's 12,588.03 low, with the turnover 530 million shares against 550 million on
      385 words
    • 104 9 MANILA: Share prices closed mixed in quiet trading yesterday. The Oil Index firmed 0.019 to 0.717 and the Commercial k Industrial Index fell 0.57 to 131.45 while the Mining Index was steady at 681.92. MAY 24 Nw ManlMl Onantal B MM B 0.0014 -***** 0.011 unch 0.12 -II 38
      104 words
    • 383 9 SYDNEY: Share prices closed easier in a continuing technical correction to recent highs yesterday. BHP fell 14 cents to A 56.32 and brokers said this was a major factor behind a 4.4 point-fall in the All Ordinaries Index to 883.0. The All Industrials Index fell 3.8 to 1,244 and
      383 words
    • 140 9 BANGKOK: Stock prices closed lower in quiet trading yesterday. The Book Club Index fell 0.25 point to 140.88 and declines led advances five-to-three. Turnover stood at 401,649 shares compared with Thursday's 447,373 shares. MAY 24 Aokham Thai Alio Ffcr» MM 171 4 Stam Cement Stam CMzan Stam City Caman*
      140 words
    • 71 9 MAY 24 Won .5 Hyund® Canst ii rini llntnf nyunooi MOTof KAL 901 569 423 unch -2 Chotoung Bk 575 •10 -5 Korao first 660 +3 +20 -2 Coi^wwCKjl Ok....... 630 430 Koraate 394 464 4-H Lucky Ltd 578 -7 559 6 710 inch 499 14 Etoc 800 -5
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    • 92 9 AP PECHINEY of France has withdrawn its equity investment in Aluminium of Korea Ltd by selling its 50 per cent stake to the Hyundai group. Both Aluminium of Korea and Hyundai declined to say why the French partner quit. Pechiney joined the Korean project, capitalised at two
      AP  -  92 words
    • 397 9 FT HITACHI, TOSHIBA and Mitsubishi Electric, three of the world's largest electronics companies have reported sharply improved profits for the year ended last March on the back of surging exports, notably to America and China. Hitachi, the largest of the three, pushed
      FT  -  397 words
    • 150 9 AFP NIPPON STEEL of Japan remained well ahead as the world's top steel producer last year, turning out twice as much as the run-ner-up US Steel. The International Iron and Steel Institute, in listing the major companies in the non-communist world, said Nippon Steel produced
      AFP  -  150 words
    • 327 9 AFP INVESTIGATIONS into the involvement of Taiwanese state bank officials in the Cathay business empire loans scandal would be halted if the Finance Ministry confirms they were acting under orders. The Taipei district court is investigating officials of the staterun Cooperative Bank of Taiwan
      AFP  -  327 words
  • Page 9 Advertisements
    • 111 9 I vv- 4'dl M ir ar FZ v 7 M m 'k£M FOR FURTHER INFORMATION CALL I <#* For a P2ranakan 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
      111 words
    • 165 9 Up the staircase at the Century Parte Sheraton Follow the sweep of the curving staircase of the Century Park Sheraton and you'll find yourself at the Block Velvet Gold. It's a discotheque with hot sounds and cool drinks, an exceptional laser light show, and the sort of clientele who stay
      165 words
    • 177 9 Paramount HoidWhm Hm happy paopf go if m OOCKTML LOUNGE Experience a new and refreshing concept in cocktail lounge entertainment. Experience The Gazebo. The frontispiece of Paramount Hotel, away from all the hustle and bustle A free flowing garden terrace in subtle shades of grey and beige. And a truly
      177 words
    • 83 9 Music Room TOT A •V V From English afternoon teas of not scones and strawberry jam, to evening cocktails. Then dance to the music of Juliana's of London. Linger. The mood is Distinctively Hilton in Style. flown inl China! A TASTE OF BEIJING May 20 to 28, 1985 Nine days
      83 words
    • 65 9 Listen to Great New Sounds at CAIRNHILL COCKTAIL LOUNGE With Ramon D New Blackjacks Happy Hours: 5 pm 7pm With Sunny and Stamford x For reservations please call 734 6622 BMmMMttJL MOTKII S^ofltpon 19, Cairnhill Circle, Singapore 0922 Our Chefs Recommendation: Vegetabte Savert*® 1 SI 1, Lunch Speciality: Dian Xin
      65 words

  • SHARE INFORMATION
    • 4170 10 SHARE PRICES eased for the fourth consecutive day on the Singapore stock market yesterday as investors waited for the new settlement period before entering the market. The BT Composite Index fell 2.29 points to 726.58 and the Straits Times Industrial Index dropped 2.74
      4,170 words
    • 198 10 SINGAPORE Rises Indices 193 +12 MeWriirto 790 +10 S Sggf A B N MOM 285 9 «T UAcotoc *****27 *****28 L-+-+* H 50, 300 +6 ■TOj/OS +"3 +97 Pw>-EI 50c 265 6 ST Udustnoh 820.98 818.24 UOI 248 6 STFmk* *****9 2140 18 W. 8m 265 5
      198 words
    • 2469 10 BID and offer prlees officially luted 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 Contracts are quoted after the word "SETT"
      2,469 words
    • 199 10 JURONG ENGINEERING Limited: Fourteenth AGM at Mandarin Hotel, Mandarin Court A, 4th Floor, Main Building, 330 Orchard Road, Singapore 0923 today at 12.15 pm. NEGRI SEMBILAN OIL PALMS Berkad: Fif-ty-three AGM at 107 (1st Floor), Changkat Thambi Dollah, Kuala Lumpur 06-17 today at 10.30 am. OVERSEA-CHINESE BANKING CORPORATION
      199 words
  • Page 10 Advertisements

  • COMPANY NEWS
    • 228 11  -  0 68* H TT 1 T HOCK LOCK SIEW THE HIGHLY controversial Grand United Holdings-Sigma Metal Company takeover bid continues to enjoy a lot of speculative attention, so today's chart focus will attempt to provide a price perspective on the former. After a long and perilous decline
      228 words
    • 94 11 HONGKONG Thursday 1247.9 Hong Seng Index Week ago 1257.0 Friday 1596.84 Thursday 1617.30 NEW YORK Week ago 1647.88 Dow Jones TOKYO Thursday 1296.71 Wednesday 1303.76 Tokyo Dow Jones Week ago 1278.05 Friday *****.85 Standard Poors Thursday *****.13 Week ago *****.99 Thursday 187.60 Wednesday 188.56 TSE Index Week ago
      94 words
    • 319 11 WHILE United Industrial Corp and Tan Sri Khoo Teck Puat have failed in their recent attempts to control listed Hongkong companies, Parkway Holdings Ltd has succeeded in taking over property-based Lee Hing Development Ltd. Following purchases of two blocks of 5.15 million
      319 words
    • 891 11 SHARES closed sharply lower yesterday on worries over the possibility erf oil price cuts, the overnight falls on Wall Street and on profit t»Mng after recent gains. The FT 30 Index at 2pm was down 12.5 points at 997.1, falling below the 1,000 mark for the first time
      891 words
    • 209 11 Managers' prices for May 25 27 Singapore Unit Trust The Commerce 1.97 *2.09 The Savings Fund 148 1.57 S'pore Prog Fund 0 86 0.91 S'pore Sw Fund 1.27 1.35 S'pore Invest Fund 0.92 0.97 S'pore Equity Fund 0.87 0.92 Asia Unit Trust Mat Invest Fund 2.11*2.26 Mai Prog
      209 words
    • 660 11  -  By NAJEEB JARHOM TIN EXPORT restrictions coupled with a staggering provision for diminution in value of its investment in Sime Darby have tarnished Malaysia Mining Corp Bhd's profit performance in the year ended Jan 31, 1965. Reporting its worst operating results since
      660 words
    • 449 11 AMALGAMATED Properties A IidutriM said Mr J M Brown will retire as the company's managing director from June 30. Tan Sri Datuk Ibrahim bin Mohamed will continue to act as chief executive. NEGRI SEMBILAN OU Palms Bhd has clarified that the taxation figure in its 1964 annual report
      449 words
    • 151 11 PEGI MALAYSIA Bhd is spending MsBoo,ooo cash to acquire a 36.4 per cent stake in DEP Engineering (Malaysia) Sdn Bhd which shares a common chairman in Mr Abdul Ghafar Baba. DEP lists its activities as assembling, manufacturing and distributing undercarriage parts and attachments (or
      151 words
    • LATEST RESULT
      • 111 11 Group pre-tax profits rose to M 555.42 million in the half-year to March, 1985 ($41.15 million). Net earnings per share rose to 8.7 cents from 7.1 cents. An unchanged interim dividend of five cents a share less tax will be paid on Oct 7 to shareholders
        111 words
    • 536 11 THE KUALA LUMPUR stock market drifted through another lethargic session yesterday with share prices closing lower for the fourth straight day. With investors once again staying on the sidelines, turnover took another dip to one of its lowest levels in recent weeks. Only 4.42
      536 words
    • 1952 11 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday, with the number of shares traded shown In brackets In lots of 1/100 units unless otherwise specified. MDUSTMALS A Choc (2.135) AISB M) 1.14(4) 1.15 xol Alcom
      1,952 words
  • Page 11 Advertisements

  • LATE FILE
    • 58 12 Reuter RIOT police firing tear gas yesterday clashed with thousands of students demonstrating in support of colleagues occupying the US Information Service Library in South Korea. The occupation, a protest against Washington's support for President Chun Doo Hwan, entered a second day as talks between the
      Reuter  -  58 words
    • 44 12 AFP ENTIRELY Indonesianmade cars will be twice as dear as imported ones. The head of the Indonesian Automobile Manufacturers' Association Soebronto Lara told Parliament that a government decision to produce an entirely home-made car by 1988 should be delayed.
      AFP  -  44 words
    • 43 12 AFP BLACK money in the Indian economy, from deals not declared for tax, amounts to some 20 per cent of gross domestic product, or 370 billion rupees, the National Institute of Public Finance and Policy reported yesterday.
      AFP  -  43 words
    • 37 12 Reuter THE Japanese Foreign Ministry has denied Tokyo and Washington had a secret agreement that Japanese forces would be placed under a US-appointed commander in case of an attack on Japan. Reuter
      Reuter  -  37 words
    • 26 12 Reuter FIVE people were hurt in rioting and arson which flared overnight in South Africa's black townships, police said yesterday. Reuter
      Reuter  -  26 words
    • 50 12 AFP NEPALESE authorities arrested the president of the banned Nepali Congress Party yesterday. A party spokesman said Krishna Prasad Bhattarai and other party activists were arrested as they set out to take part in the second day of a civil disobedience campaign called by the party. AFP
      AFP  -  50 words
    • 32 12 AFP TWO South Korean fishing vessels were seized yesterday by Japanese patrol boats (or illegally fishing within Japanese territorial waters, Maritime Safety Agency officials in Japan said. AFP
      AFP  -  32 words
    • 47 12 AFP ITALY'S overall balance of payments deficit narrowed in April to a provisional 1,665 billion lire from a provisional 3,149 billion lire deficit in March, the Bank of Italy said. The figure compares with a surplus of 750 billion lire in April last year.
      AFP  -  47 words
  • 377 12  -  Outgoing head of Mobil paints optimistic picture By CHUANG PECK MING THE ECONOMY may be in its worst shape since the 1973-74 oil crisis, but the outgoing chairman of Mobil Oil Singapore thinks it will still end up with a healthy growth rate this
    377 words
  • 386 12  -  By ANNA TEO THE WORKERS' PARTY has invited the Prime Minister to its rally at the Toa Payoh Athletic Centre tonight. Mr J B Jeyaretnam, WP secretary-general, said he had written to invite the Prime Minister, or the First Deputy Prime Minister,
    386 words
  • 155 12 MR JB JEYARETNAM has filed a notice of appeal against the Chief Justice's refusal to grant him leave to challenge an earlier verdict made against him. The Workers' Party secretary-general said that he made the appeal on Thursday,
    155 words
  • 254 12 Reuter AN ANTICIPATED flood of illicit hard drugs into Britain is the greatest peace-time threat the country has ever faced, a British parliamentary committee said. In a unanimous report the all-party Home Affairs Committee recommended tougher penalties for traffickers and confiscation of their property, as
    Reuter  -  254 words
  • 188 12 Reuter THAILAND yesterday summoned Hanoi's ambassador to protest against more than 10 Vietnamese troop incursions from Cambodia since November in which more than 64 Thais have been killed. A Thai Foreign Ministry memorandum given to Ambassador Tranquang Co rejected charges matte by Hanoi
    Reuter  -  188 words
  • 57 12 AP THAILAND and Malaysia are expected to agree oo a bill to establish a body for Joint development of offshore resources in Jvtj. The two countries have agreed to a 50-50 profit-sharing from the development of resources in a 3,360 square kilometre area claimed by both countries,
    AP  -  57 words
  • 508 12  -  By LOH HUI YIN PETROLEUM products refined from Chinese crude oil are now putting more pressure on selling prices of Singapore oil companies than those using Middle East crude. "A high proportion of petroleum products coming out from the refineries here are going
    508 words
  • 134 12 MARINA SQUARE will be officially opened in April next year, more than six months later than the originally scheduled date. The three hotels at the site, Marina Mandarin, Oriental Singapore and Pan Pacific, would be opened at the same time for more impact, a project spokesman said
    134 words
  • 253 12 AFP PRESIDENT Junius Jayewardene plans a multi-par-ty conference next week to seek cooperation in ending Sri Lanka's separatist violence, following stepped up separatist attacks. But none of the Tamil political parties, even legal ones, are likely to be invited because of their support
    AFP  -  253 words
  • 271 12 Reuter THE PHILIPPINE Supreme Court yesterday ordered the only witness to admit seeing the Manila airport murder of opposition leader Benigno Aquino to submit to cross-examination. The court voted 10-2 in favour of dismissing the petition of Miss Rebecca Quijano, dubbed "The Crying Lady". It said
    Reuter  -  271 words
  • 129 12 AFP IN AN economic report on Thailand issued on Thursday, the National Westminster Bank in London forecast that the country's growth will continue this year at a "robust pace" approaching five per cent after last year's six per cent. But it expects the inflation
    AFP  -  129 words
  • 97 12 Reuter A HUMAN rights group said yesterday there appeared to be a systematic military repression of church workers, especially in the Southern Philippines. A fact-finding mission led by the Philippine Conference on Human Rights said the murder of Italian Catholic priest Tullio Favali, and threats to other
    Reuter  -  97 words
  • 74 12 Reuter NEW YORK stock prices carried their losses into a third consecutive session yesterday, slipping mildly on early morning profit-taking. Bank stocks stabilised after heavy pressure in the past two days, linked in part to a laterdenied rumour that Argentina was nationalising its banks. The Dow Jones
    Reuter  -  74 words
  • Page 12 Advertisements
    • 19 12 Managers must manage. BT shows you how every Monday Training improves your chances. BT shows you how every Wednesday
      19 words
    • 425 12 umui imco monei ume [maiausH] Houses BeFMao (incorporated in Malaysia) Notice Of Annual General Meeting NOTICE IS HEREBY GIVEN that the Fifteenth Annual General Meeting of the Company will be heW at the UMW Auditorium, United Motor Works (Malaysia) Holdings Berhad, Jalan Utas (15/7), Batu Tiga Industrial Estate, Shah Alam,
      425 words
  • Page 12 Miscellaneous
    • 60 12 Outlook for today: Portly cloudy with showers over several areos in the late morning and early afternoon. Report for 24 hours prior to 7 30pm on May 24 at the oirport: Maximum temperature 32.1 Associated humidity 70 Minimum temperature 25.4 Associated humidity 94 Hours of sunshine 2.95 Roinfoll in millimetres
      60 words