The Business Times, 28 December 1985
1985-12-28
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The Business Times
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Title Section12 1985-12-28 1 BUSINESS TIMES M.C. (P) No. 192/12/85 SATURDAY, DECEMBER 28, 1985 75 CENTS12 words
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Article, Illustration592 1985-12-28 1 Effect on domestic demand of high savings rate can't be ignored, says Tony Tan THE NEED for a temporary cut in Central Provident Fund contributions was strongly indicated last night by Trade and Industry Minister Dr Tony Tan. In a speech which advocated a592 words
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581 1985-12-28 1 THE TIME HAD COME for Singapore to take a closer look at a number of the economic fundamentals which the country's planners had been reluctant to change because they had served us well in the past, Dr Tony Tan said last581 words
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Article60 1985-12-28 1 THE CPF is a major pillar of our economic philosophy a sacred cow. I* has served us well but the present circumstances seem to indicate that a review is necessary. At the risk of being frozen into inflexibility, we must stand ready to question our conventional wisdom. Anything60 words
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314 1985-12-28 1 THE GOVERNMENT is prepared to re-examine its position on various issues, including its stand on the CPF rate, to lead the way out of the current recession, First Deputy Prime Minister Goh Chok Tong told trade union leaders yesterday. "To get out of the314 words
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Article, Illustration78 1985-12-28 1 SHARE PRICES CONTINUED to advance on the Singapore stockmarket yesterday. Blue chips, especially the Index component stocks, dominated trading yesterday and helped to give an overall lift to the local market. The BT Composite Index was np 1.47 points to 531.31 and78 words
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215 1985-12-28 1 AFP JAPANESE Prime Minister Yasuhiro Nakasone has decided to opt for stability and not make any major changes in a Cabinet reshuffle due to be announced today, a Liberal Democratic Party (LDP) official said yesterday. Mr Nakasone told party secretary general Shin KanemaruAFP - 215 words
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Article94 1985-12-28 1 AP JAPAN'S unemployment rate rose to 2.9 per cent in November, the highest since the government started keeping the statistics in January 1953, the Management and Coordination Agency said yesterday. The seasonally adjusted jobless rate has been increasing since September, when it stood at 2.7 perAP - 94 words
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119 1985-12-28 1 Reuter THE WAGES of about 15,000 workers at three money-losing state-owned corporations will be slashed by 15 to 30 per cent. An Economic Ministry spokesman said the cuts would take effect early next year. They would last until financial conditions improved at the ChinaReuter - 119 words
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408 1985-12-28 1 ELAINE KOH - By ELAINE KOH ONE OF THE KEY companies in the Pan-Electric debacle Growth Industrial Holdings has been deemed insolvent after an investigation by a leading international firm of accountants. Meetings to discuss the findings by Arthur Young have been going on between creditor408 words
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Article, Illustration56 1985-12-28 1 LEE IACOCCA - By LEE IACOCCA EUROPE AND JAPAN rose from the ashes on the back of America's liberal trade policies. Third World countries also benefited and it's time everybody pay their dues, says Lee lacocca of the Chrysler Corporation. Read what he thinks about fair trade policies in Monday's 'Straight56 words
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Page 1 Advertisements
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Advertisement96 1985-12-28 1 {__+/._(^;{]/.,})*]==+\^^<[^!") Economy shrinks spc in fourth quarter, Back page At Banque Indosuez, we turn challenges into opportunities. We have applied our expertise in Treasury, Foreign Exchange and Capital Markets and have designed new products, tech niques and strategies to help you cope with increasingly complex and difficult currency and interest96 words
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Advertisement265 1985-12-28 1 LEADER, P»g« 6 SHARE INFORMATION MONEY A EXCHANGES SHIPS IN PORT AIRCRAFT SCHEDULE CROSSWORDS TV A RADIO DOONESBURY BRISTOW LIFE IN HOUSING BOARD ESTATES is t\pt the lonely picture depicted less thon 10 years ago. A study has shown that behind the concrete facades, a lively social network is being265 words
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Advertisement153 1985-12-28 1 CPF cut will not affect home ownership goal, Public reactions, Page 12 Full report, Page 10 Int'l stocks, Page 8 Asian stocks, Pags 9 Why settle for less... 1 TITLEIST 384 golf ball is miles ahead of its rival. The Official Ball Count on the U.S. Pro Tour Circuit places153 words
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HOME NEWS
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Article495 1985-12-28 2 LISA LEE - Life in flats not the lonely picture depicted 10 years ago By LISA LEE A STUDY OF LIFESTYLES in housing board estates has shown that behind the concrete facades, a lively social network is being built up. Families form social ties with a small495 words
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264 1985-12-28 2 AFTER 25 years as Singapore's most active developer, the Housing and Development Board now sees its major role as the country's busiest estate manager, with more than half a million flats now under its wing. In the last financial year, the board spent more264 words
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Article, Illustration479 1985-12-28 2 SAID ABDULLAH - By SAID ABDULLAH BLESSINGS by religious leaders at 10 o'clock in the morning yesterday might bring some real prosperity to Van Ommeren Terminals for the new year. The blessings are to mark the completion of $15-million worth of new storage tanks and distribution facilities for479 words
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375 1985-12-28 2 SHAHRIR ARIFF - ASIAN k AER^SPACE'B6 By SHAHRIR ARIFF TWELVE AUSTRALIAN aerospace companies are taking part in the Third Asian Aerospace exhibition to be held next month. Sponsored by the Australian Department of Trade (ADT) and the Association of Australian Aerospace Industries (AAAI), they will promote Australia's capability375 words
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Article180 1985-12-28 2 FINNISH COMPANY Outokumpu Electronics will be exhibiting its METOR 118 walk-through metal detector at the Asian Aerospace '86 exhibition from Jan 15 to 18. This system uses pulsed field technology and a double coil system which gives uniform sensitivity throughout the gate to ensure180 words
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186 1985-12-28 2 BRITISH aerospace company Short Brothers PLC will be showing its range of products at Asian Aerospace '86 next month for potential customers in the Asian-Pacific market. Its Javelin lightweight multiple launchers (LML) will be demonstrated as full size equipment to enable visitors at186 words
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309 1985-12-28 2 THE EIGHTH Asian-Pacific edition of The International Financial Management Seminar will be held in Singapore from March 3-14 next year. Current trends in international economics and trade, and reviews of developments in the international monetary system and foreign exchange markets are among the areas that309 words
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Article863 1985-12-28 2 AT CONVENTIONAL WHARVES Vessel Berth Agent Arrival Departure KEPPEL WHARVES G Selatan 8 Koi Koi Hugheverett Niaga 31 Straits Hope Vassil Levski Viet XO 79 Hati Senang Makmur Qmgchecheng Sena Trans Hav K18 K16 K21 K30 K24 KI7 K21 K18 K24 K15 K24 K09 Ocean Int Borneo863 words
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Page 2 Advertisements
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Advertisement38 1985-12-28 2 .CV 1S& o w -u rp cv CP T Live-Band Music Non-Stop Dancing Charming Hostesses Gracious Service I a festive 6oi° o^ sUOO Office NiUr-Cfrif> Loutuje» 1. Claymore Drive. #02-11 Orchard Tower (Rear Block) Singapore 0923 Te( *****2638 words
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BANKING AND FINANCE
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Article885 1985-12-28 3 SINGAPORE THE US dollar yesterday closed slightly higher against most major currencies after fluctuating within a very narrow range in quiet and featureless trading. It closed a shade firmer at 202.85/203.00 yen compared with New York's 202.70/90 close, at 2.5050/60 marks against 2.5030/50 and at 2.1060/80 Swiss francs885 words
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Article, Illustration306 1985-12-28 3 Asian market ASIAN DOLLAR deposit rates yesterday closed little changed from opening levels in quiet weekend trading, dealers said. Among short-dates, Friday/Monday weakened point from the opening to close at 8-3/16 8-1/16. Week fixed, which was initially adjusted 3 point higher to 9'/i 9 3 s due mainly to over306 words
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Article248 1985-12-28 3 Interbank rates at 3pm on Monday: Currencies Nominal 1 rate* Smithsonian Bid Otter croaa parity change Local dollors to one unit of foreign currency. US dollar 2 1165 2 1175 ***** 24 94 Sterling pound ***** 3 0216 7 3469 -58 95 Australian dollar 1 4381 1 4420248 words
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Article276 1985-12-28 3 HONGKONG: GOLD yesterday closed steady in extremely thin and dull post-Christmas trading, dealers said. The metal ended at U*****.35/65 an ounce, compared with the 325.20/70 close in New York and the 325.70/326.20 finish here on Tuesday. The market here was closed on Wednesday and Thursday. On the local market,276 words
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Article302 1985-12-28 3 BA Futures FED INTERVENTION through system repurchase agreement on Thursday yesterday saw Eurodollar futures opening higher than Thursday's close. Trading activity in the March contract was thin and extremely quiet after the initial opening at 92.31. Liffe opening saw no further interest in the directionless market with the MarchBA Futures - 302 words
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Article64 1985-12-28 3 THE OVERNIGHT rate on the Singapore interbank money market rose by V® point from Thursday to close at s'/« per cent yesterday. The term rates and the mode were unchanged. S$ Interbank rates at 3pm yesterday: OH* Bid Overnight 5 1/4 5 1/8 1 -month 5 5/16 564 words
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Article52 1985-12-28 3 RESULTS OF TENDER held on Dec 27 for 91-day Treasury bills to be issued from Dec 30-31 and Jan 2-3 86. Offered: $130,000,000. Applied for: $176,500,000. Allotted: $130,000,000. Accepted bids: $99.26 approximately 60 per cent; higher bids in full. Average rate of discount on allotment: 2.950 per cent52 words
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234 1985-12-28 3 Reuter JAPANESE net buying of foreign bonds fell to US$4.2O billion in November from $5.67 billion in October, according to Japan's Finance Ministry. Buying surged to a record $35.93 billion last month from the previous record of $34.13 billion in October, andReuter - 234 words
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Article92 1985-12-28 3 Reuter THE JAPANESE government bond underwriting syndicate accepted a Finance Ministry proposal to cut the coupon on 10-year bonds to be issued next month to 6.1 per cent from 6.5 per cent for December, underwriting sources said. The cut reflects a recent rally in the bondReuter - 92 words
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Article260 1985-12-28 3 NYT LONG-TERM Treasury bond prices in the US climbed on Thursday, in spite of a flurry of late selling, after an unexpected infusion of funds into the banking system by the Federal Reserve. Discount rates on Treasury bills fell moderately for the same reason. ButNYT - 260 words
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Page 3 Advertisements
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Advertisement89 1985-12-28 3 ONE FOR MY BABY AND ONE MORE FOR THE ROAD. Aurum. A real bar. A little drama. A little intrigue. A little romance. A lot of things begin over a drink at this place. The piano player sees it all and retells it in his music. And at the end,89 words
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OVERSEAS
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558 1985-12-28 4 NYT THE US FEDERAL Reserve Board is postponing the effective date of its proposed restriction on the use of low-quality bonds to finance corporate takeovers. The proposal had been scheduled to go into effect on Jan 1, but late on Thursday afternoon,NYT - 558 words
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Article511 1985-12-28 4 NYT FOR BUSINESS ECONOMISTS, one area of the economy that may appear the bleakest is their own profession. Major corporations, leading banks and the federal government have been eliminating, de-emphasising or reassigning their once-elite staff of PhD economists. Some companies are now buying whateverNYT - 511 words
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74 1985-12-28 4 UPI MEN WHO WEAR bow ties are not trusted by their fellow employees or by juries, writes an image consultant in Success magazine. "If you have a bow tie, I recommend you leave it at home," contributing editor John Molloy writes inUPI - 74 words
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Article, Illustration189 1985-12-28 4 UPI A WHITE HOUSE spokesman has rejected reports that US Secretary of State George Shultz is on his way out, adding that President Reagan has the "fullest confidence" in his Cabinet official. Shultz "is very much on board", spokesman Edward DjerejianUPI - 189 words
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134 1985-12-28 4 AP SYRIA HAS AGAIN shifted its anti-aircraft missile batteries into Lebanon, arousing concerns in Israel about a sharp rise in tension. Government officials said Israel was dealing with the missile crisis through diplomatic channels, apparently through the US. Military sources said the Syrians had movedAP - 134 words
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247 1985-12-28 4 UPI SCIENTISTS have found indications of massive new ■..aeral deposits in the south-east Amazon basin that cover an area at least the it» of England. Francisco Ferreira, the director of the federal Caracas mining project, said geologists detected the huge deposits ofUPI - 247 words
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Article95 1985-12-28 4 Reuter J PAUL AUSTIN, a former chairman of the Co-ca-Cola Company who introduced the soft-drink to China in 1978, died at his home in Atlanta on Thursday at the age of 70. Austin was the main architect of the exclusive agreement to market Coke in ChinaReuter - 95 words
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354 1985-12-28 4 Reuter SWEDEN, which became a synonym for sexual permissiveness in the 1960s and *****, is cracking down on pornography and may amend its constitution to ban it. Liberals who once campaigned against censorship in the name of sexual freedom are now demanding that controls beReuter - 354 words
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Article857 1985-12-28 4 ARRIVALS Operator Service Local From number time OA OA47I 0030 ATH SIA SQII 0125 LAX/TYO CAL CI333 0130 TPE PAA PA21/5 0155 LAX/TYO/HKG SIA SQ41 0615 MAA MK MK746 0755 MRU MAS MH68I 0820 KUL CV CV7796 0845 LUX/DXB KAL KE624 0850 KUL MAS MH603 0905 KUL857 words
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164 1985-12-28 5 Bernama SOUTH KOREA'S major textile exporters plan to regulate jointly export prices next year in an effort to curb excessive competition on international markets. A Korea Export Association of Textiles (Keat) official said yesterday that, through voluntary regulation, the exporters hope to prevent theBernama - 164 words
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86 1985-12-28 5 AFP INDIAN Finance Minister Viswanath Pratap Singh has acceded several requests from nqrt-fgsident Indians that may facilitate investment flow into the country. The Press Trust of India reported on Thursday that at a meeting with representatives of non-residents, Mr Singh accepted their request for exemptionAFP - 86 words
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415 1985-12-28 5 AP LEADING ECONOMIC indices in seven of the world's nine major industrialised countries are strengthening, a signal that growth forecasts may have to be revised upwards, reports the Conference Board. The business research organisation said in a statement summarising its latest survey that theAP - 415 words
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140 1985-12-28 5 AP TWO THAI JOURNALISTS were reported in satisfactory condition yesterday after hooligans assaulted them as they covered alleged vote-buying during a by-election in Bangkok. Police said two people have been arrested and charged with assault and robbery. Police and newspaper accounts said reporters fromAP - 140 words
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300 1985-12-28 5 AFP CHINA is near to closing a halfbillion dollar deal with the US to buy advanced electronic equipment for its air force. The Far Eastern Economic Review quoted US officials as saying that Washington would provide integrated navigational and fire-control systemsAFP - 300 words
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Article137 1985-12-28 5 UPI FOREIGN CONCERNS have invested more than US$l7 billion in oil and gas exploration on China's vast continental shelf since 1979. The official China Daily newspaper said, however, Qin Wencai, the president of the China National Offshore Oil Corporation, acknowledged that some foreign oil companiesUPI - 137 words
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Article, Illustration358 1985-12-28 5 AP, AFP AMERICAN OFFICIALS have found encouraging signs that Philippine President Ferdinand Marcos will permit a fair election on Feb 7 in the contest between him and challenger Corazon Aquino. Mr Marcos is finally bending to US pressure to hold a valid election asAP,; AFP - 358 words
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Article229 1985-12-28 5 AP JAPAN has agreed to slight increases in its imports of crude oil and coal from China on a long-term basis. Japanese sources say the move follows earlier Chinese demands for a huge expansion of the volumes in view of a growing bilateral tradeAP - 229 words
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Page 4 Advertisements
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Advertisement0 1985-12-28 4 >[*%}$\*~\!),``'^[$?.`_$;<'?%!"0 words
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Page 4 Miscellaneous
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Miscellaneous225 1985-12-28 4 Doonesbury BY GARRY TRUDEAU ABSOUmW! WWOW mSPERTTY ZSZS'StL l/UILL YOU? 7lu:r:u »u m tz '*11 m m T X m m m ?V cs is butuhypip^tyou emUSHJAMHQ* LIKE SOMEONE HASTO mo leep-meFL/wa KEEP THE house in the ALL OF US! uzcoulp JUGGLE OUR CAREERS! UVEHERB IN SHIFTS! so.'iuhats rrs true,zonk.225 words
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RAW MATERIALS
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215 1985-12-28 5 UPI THE US Agriculture Department's chief grain inspection official, back from a trip to the Soviet Union, has said the Soviets report improvement in quality of American grain they import. Mr Kenneth Gilles, an administrator of the Federal Grain Inspection Service, said: "The SovietsUPI - 215 words
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155 1985-12-28 5 Reuter PENINSULAR Malaysian rubber output rose to 114,423 tonnes in October from a revised 111,007 (originally 110,753) in September, compared with 124,668 in October last year, the statistics department said yesterday. Malaysian output, including Sabah and Sarawak, rose to 117,938 tonnes in October fromReuter - 155 words
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Article149 1985-12-28 5 Chinese Produce Exchange (Sellers' noon closing prices on Dec 27 (SS/100 k 9 Coconut oil Bulk FOB 70 00 CHd drum FOB 83 00 New drum FOB 87 00 Copra 35 Mixed (loose) buyers Pepper Muntok White FOB NLW 1125 00 Sarawak White FOB toq NLW 1115 00149 words
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Article143 1985-12-28 5 MALAYSIAN crude palm oil prices yesterday closed slighUy lower on light liquidation in sympathy with a weaker Chicago soyoil futures close on Thursday night. Conditions remained dull as most operators were reluctant to trade following a lack of fresh factors, particularly India's absence from its weekly vegetable oil143 words
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Article203 1985-12-28 5 WHEAT FUTURES on Thursday closed on or near the highs, up SV« to 1 3 < US cents per bushel in moderate trade on the Chicago Board of Trade. March settled at USs3.44'i after posting a 4V« cent range on the day. Two major participants set the tone, with203 words
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Article107 1985-12-28 5 AP THAILAND exported 3.8 million tonnes of rice from January to November this year, down 7.3 per cent from the same period last year. An official of the Board of Trade of Thailand has said the value of this year's exports was estimated at 21.1AP - 107 words
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Article82 1985-12-28 5 Reuter THE PIRA ONE exploration well in South Australia's Cooper Basin has made a new field gas and condensate discovery, operator Delhi Petroleum Pty Ltd has said. A test over the interval from 2,167 to 2,181 metres flowed gas at 135,353 cubic metres aReuter - 82 words
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Article607 1985-12-28 5 COFFEE ROBUSTA COFFEE futures yesterday continued to fall to midday, to post losses from Tuesday of £145 to £151 a tonne on a wave of profit-taking and nervous long liquidation following the violent fluctuations in New York on Thursday, dealers said. The market was due around £50 lower607 words
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Article89 1985-12-28 5 FUTURES yesterday closed mixed in the last day of trading this year on liquidation and profit taking on mid-term and distant months and short-covering on nearbys. Most traders insisted on technical business ahead of the long New Year holiday starting today until Jan 3. The market will start the89 words
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106 1985-12-28 5 AFP BRAZIL'S oil production increased nearly 20 per cent in the first 11 months of 1985 compared to the same period last year. The staterun Petrobras Oil Company said average daily production from January through November was 560,465 barrels a day, or 19.3AFP - 106 words
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Article13 1985-12-28 5 I 1 ijtlJSjffl 2KB JTtJ HfiJI QQn^RR 1 \i tVja ffiMBMBBiBBMli J7y13 words
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Article202 1985-12-28 5 SOYBEAN FUTURES on Thursday eased to close Vi US cent to 2 1 cents per bushel lower in moderately light trade on the Chicago Board of Trade. January settled at US$5.35 1 1, down 1V« cents. Traders said an unusual influence came into play during the afternoon, as a202 words
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TIME-OFF
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Article481 1985-12-28 6 DR TONY TAN's address to the Alpha Society last night was one of the most forthright speeches made by a Singapore politician this year. Amid images drawn from mythology, analysis of history and fact, he focused attention on two important facets of government policy481 words
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Article, Illustration1431 1985-12-28 6 LUCIA VAN DER POST - By LUCIA VAN DER POST FT AS WINTER WRAPS itself around the towns and cities of northern Europe, some people's thoughts turn to snow and ice but others begin to dream of the vast lion-col-oured plains, the forests and rivers which lie beyond the Sahara. Even toFT - 1,431 words
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Article799 1985-12-28 6 What's on from Dec 28-Jan 3 EXHIBITION: Singapore Art Past and Praaant. National Museum Art Gallery. 9em-5.30pm. Admission free. The exhibition will highlight works in the National Museum Permanent Collection. CHINESE PUPPET SHOW: Rod Puppeta. National Museum 10.45 am. Specially invited by the National Museum, the puppeteers will give799 words
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Article, Illustration121 1985-12-28 6 THE EXHIBITION "Singapore Art Past and Present" at the Natianal Museum Art Gallery traces the development in Singapore art from the founders of the Nanyang style, the early pioneers, to the works of the 2nd generation artists. Featured are works of pioneer local artists of the121 words
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Article255 1985-12-28 6 FOR THE FIRST TIME in living memory, according to a member of the 94-year-old Singapore Town Club, no employee of the Hongkong Bank or the Standard Chartered Bank attended the Christmas lunch held on Dec 20 in the Straits Trading Building. Bankers from the two companies255 words
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Page 6 Miscellaneous
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Miscellaneous790 1985-12-28 6 wotWENsai CRYPTIC PUZZLE ACROSS 9 At home with a questionnaire, the man is quite casual (8) 10 What would be wise for a mouse to avoid? (3) 11 Herb and I take the instrument round (6) 12 Lady, hand back the dog (6) 13 The idea is to have a790 words
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SPORTS
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Article, Illustration557 1985-12-28 7 BRIAN MILLER - Easy rides on Shade of Purple and Top Note By BRIAN MILLER TODAY, he's six-up on his nearest rival and I don't think anyone will come close to toppling him from his perch at the top of the jockeys' table. But even as he557 words
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Article, Illustration1162 1985-12-28 7 FT JUAN-ANTONIO Samaranch is steering the Olympics into a hazardous ocean of riches. Samaranch, a member of the Cortes who survived the Franco regime to become Spain's first ambassador to the Soviet Union and then International Olympic Committee president duringFT - 1,162 words
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389 1985-12-28 7 WALTON MORAIS - By WALTON MORAIS VINCENT LEE's crowded trophy room looks likely to have another addition today after Warren's Gold Medal golf championships. The 20-year-old is the overwhelming favourite to win on the newly remodelled course. The course has brought him much success389 words
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141 1985-12-28 7 AP PATRICK EWING scored 18 of his 32 points in the fourth quarter on Wednesday as the Knicks overcame a 25-point deficit to defeat the Boston Celtics 113-104 in double overtime. In the other National Basketball Association game, Portland trimmed the LosAP - 141 words
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213 1985-12-28 7 AP SYDNEY SLOOP Rampant 77 ripped along the New South Wales coast on Thursday night in first place after a chaotic start in the 630-nautical-mile Sydney-Hobart yacht racing classic. The glistening white maxi, skippered by owner Alan Tucker, was one of six yachtsAP - 213 words
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Page 7 Advertisements
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Advertisement78 1985-12-28 7 Yards of Difference Spalding's New '85 Series PRO FLITE Individual Balance Irons^ Generates a consistent trajectory throughout the set. Thereby resulting in a more consistentdistance and accuracy. A set-up for more one-putt chances. 5? SQ Now with the new non-slip grip. M v% o ERICA'S FIRST CLUB MAKER. Solo Atfcnt:78 words
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Page 7 Miscellaneous
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Miscellaneous1060 1985-12-28 7 iriv IA'N !DIR WDil 10 A charming and beautifully actad film SATURDAY MATINEE NEVER-NEVER LAND 5.00 pm, Channal 5 We are treated to one of the many pantomime shows where Peter Pan, Wendy and the Lost Boys are featured. When eight-year-old Jennie is left among the relatives of her recently-divorced1,060 words
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INTERNATIONAL STOCKS
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903 1985-12-28 8 NYT THE UNION CARBIDE Corp's investment bankers held meetings on Thursday to decide on a countermove to the GAF Corp's increased US$5.l billion takeover bid for the chemical manufacturer, according to sources familiar with the situation. On Wall Street, meanwhile, there wasNYT - 903 words
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359 1985-12-28 8 Reuter THE NEW YORK stock market closed higher on Thursday in the slowest trading of 1985. The Dow Jones Industrial Average gained 7.34 to 1526.49. The New York Stock Exchange Composite Index rose 0.28 to 119.53. The average price per share increased byReuter - 359 words
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263 1985-12-28 8 NYT A SIMMERING BATTLE over Revlon Inc's beauty products division erupted on Thursday when Revlon said its agreement to sell the division to a New York investment concern had been terminated. Revlon said Adler Shaykin had failed to conclude the US$9O5NYT - 263 words
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Article213 1985-12-28 8 Paris DCC 26 Fr» COCKHLE Av-Oqiade 616 6 Aqurtovw Not Dei Petroie 196 2 B S N Gervon Donone 2610 unch C S F (ThomsooC*« 742 16 Cie Francos* des Petrotes 285 22 Credit Foncier De France 919 -4 Hoc he tie (Ubrorie) 1210 40 MKhekn (B) 1588213 words
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Article662 1985-12-28 8 DCC 26 US$ AJcon AJumm Alcoo Alegheny Lud Afced Own Cp Afced Stores Afcs-Chalmers Am Brandt Inc Am Broodcost Am Can Co Am Cyanamd Am Elec Pwr Am Eiprtu Am Horn* Prod Am Motors Cp Am Natural Gos Am Teli T«l Amax k»c Amerodo Htu AMf he Amr662 words
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Page 8 Advertisements
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Advertisement557 1985-12-28 8 If V, s wl m i 11 W&w zSir.P lUlm 0«i ii. Unkai Japanese Restaurant Sushi, sashimi, teppanyaki and other famous delicacies from the land of the Rising Sun are prepared by three resident Japanese chefs. Businessman's set lunch from $8.50-H-A¥ FURAMA SINGAPORE HOTEL 10 Eu Tong Sen Street, Singapore557 words
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Advertisement245 1985-12-28 8 «£< 9wm; AND THE PERFECT COMBINATION GOOD MI'SIC AND GOOD WINE GOOD FRIENDS AND LAUGHTER YOU AND YOURS AT THE LOUNGE ROSEMARIE. DAISY MANUELICA AND EMMANUEL WITH TOP CHARTERS. OLDIES AND ROCK N ROLL, PIT EVERYTHING INTO PERFECT COMBINATION FOR A PERFECT NIGHT Oil CRjswn ®W*CE HOTEL 270 Orchard Road245 words
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ASIAN STOCKS
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Article358 1985-12-28 9 HONGKONG: Stock prices closed firmer yesterday on light institutional buying in a market thinned by the absence of many traders after the Christmas holiday. The Hang Seng Index rose 12.83 points to 1,730.37 on turnover of HKH25.60 million in a full day's trading against $152 million in Tuesday's half-day358 words
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Article228 1985-12-28 9 DCC 27 Al Sneer* Mui Aiio Cement Cothay Coos Chang Hwa Bank HT 2 26 24 90 29 80 43 20 20 00 0 06 02 0 3 02 +03 Nan Y a Plas Pocific Cons Pocrfic Elect Wire PooJung Paper Shorp ShMn Paper 31 10 1750 1390 071228 words
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Article354 1985-12-28 9 TOKYO: Share prices fluctuated yesterday in a narrow range to end marginally lower in moderately active trading and brokers were divided on whether the market could achieve a new high today, the last day of trading in 1985. The market average lost 1.41 to close at 13,083.18 after losing354 words
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Article64 1985-12-28 9 DEC 27 Acof* Mmmg Anglo Pt*l Pern 0 001 unch On«n»al B Ph4ex 8 Picop B PLOT ....0001 -0 012 0.1450 unch ***** -0 0015 Atk» Con. B 9 90 inch Boguo Gold 8owc Petroleum 0 001 unch ***** unch San Miguel B 17 0 005 +05 ***** 73064 words
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Article361 1985-12-28 9 SYDNEY: Share markets closed firmer yesterday in lacklustre trading with end-of-year booksquaring pushing prices up. The All Ordinaries Index closed 3.0 points up at 997.2, the All Industrials Index gained 3.3 points to 1472.7 and the All Resources Index rose 2.7 points to 630.2. The Gold Index was up361 words
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Article184 1985-12-28 9 BANGKOK: Stock prices closed the week higher yesterday after price declines in the previous two weeks. The central bank's instruction to local commercial banks to lower their deposit and lending interest ceilings, pushed prices higher. The SET Index rose 2.58 points to 135.79 compared with 133.21 last Friday. Siam184 words
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Article63 1985-12-28 9 Reuter HEAVY ENGINEER Johns Perry Ltd will recommend that shareholders accept an improved takeover bid by Boral Ltd. Johns Perry said in a statement that Boral will raise its cash offer for ordinary shares to U555.25 a share from $5.00, its convertible preference share offer to $5.50Reuter - 63 words
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Article62 1985-12-28 9 Reuter HONGKONG A SHANGHAI Banking Corp chairman and chief executive Michael Sandberg will retire next year and will be succeeded by deputy chairman William Purves. The bank said in a brief statement that Mr Purves will take over as chief executive in midMarch and asReuter - 62 words
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265 1985-12-28 9 Reuter THE ASSET PRESERVER of Sanko Steamship Co Ltd yesterday presented a report to the Tokyo district court recommending that the company be reconstructed, according to a Sanko spokesman. Sanko, with group debts of 520 billion yen, applied for court protection from creditors in mid-Au-gust.Reuter - 265 words
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Article152 1985-12-28 9 AP AMERICAN MOTORS Corp is currently negotiating with Donga Motor Co Ltd to produce small vans in South Korea, the South Korean car maker said yesterday. Donga officials said the two sides has yet to agree fully on the proposed production deal butAP - 152 words
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135 1985-12-28 9 AFP BELL TELEPHONE, a Belgian affiliate of the US telecommunications company ATT, has concluded three contracts with China for the delivery of 30,000 telephone lines worth US$l6 million, sources at the Belgian Ministry of Foreign Trade said on Thursday. The lines are toAFP - 135 words
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302 1985-12-28 9 Reuter OVERSEAS TRUST BANK Ltd, OTB, which had a loss of HK$3.O6 billion in the year to June 30, expects to post another loss in the current fiscal year, according to chairman David Nendick. OTB, taken over by the Hongkong government in JuneReuter - 302 words
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Page 9 Advertisements
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Advertisement633 1985-12-28 9 )+:~*(?/<{`.~`|=]+_&')+/})+{~.: Paramount HotelWhen the happy people go J *•< JSL r^. m COCKTAIL LOUNGE I Experience a new and refreshing concept in cocktail lounge entertainment. Experience The Gazebo. The frontispiece of Paramount Hotel, away from all the husde and bustle. A free flowing garden terrace in subtle shades of grey633 words
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Advertisement146 1985-12-28 9 Life after five... MoS' POPu**' E ptv-i oo ,n *r Zy vt4% 2 Live Bails Nifhtlyl spm -1 am (Monday Friday Sunday) spm 2am (Sat eve of public holiday) HAPPY HOURS spm 7pm (Diily) It's a real happy time! Just buy a drink and get the second FREE. FREE DIAN146 words
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SHARE INFORMATION
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Article, Illustration4401 1985-12-28 10 INTEREST IN selected blue chips helped to give the Singapore stockmarket another lift yesterday. By the end of the day, most share prices finished higher but volume was thin. At the final bell, the BT Composite Index added 6.47 points to 531.364,401 words
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Article268 1985-12-28 10 SINGAPORE Rises Parks Plant 275 Kings 95 430 Coid Store lOp 255 Hum* M 212 FAN 540 S 1 A 414 M T P 340 Boxy Elect 265 Euo 50« 230 Kentucky Spore 215 Smie Dorby 50< 156 Own led 150 Metro Hides 143 Falls Tronoli Mmos268 words
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Article3630 1985-12-28 10 BID and otter 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 Contracts are quoted after the word •'SETT".3,630 words
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Article90 1985-12-28 10 ALLIED CHOCOLATE Industries Limited: 24th AGM at 481, Tanglin Halt Road, Singapore 0314 on Monday, Dec 30, at 11 am. GRAND UNITED Holdings Bhd: 24th AGM at Merlin Hotel, International Hall, Jalan Sultan Ismail, Kuala Lumpur on Monday, Dec 30, at 11.00 am. FABER MERLIN Malaysia Berfcad: 22nd90 words
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COMPANY NEWS
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520 1985-12-28 11 RAMESH CHANDIRAMANI - By RAMESH CHANDIRAMANI AS EXPECTED, the level of profitability at Goodwood Park Hotel Ltd, the hotel-cum-invest-ment flagship of millionaire financier Tan Sri Khoo Teck Puat, continued to slide for the year ended Sep 30, 1965. Group pre-tax profits shrank 31.7 per520 words
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Article277 1985-12-28 11 LOSS-MAKING IMATEX BHD is now expecting a shortfall in group profit for the financial year to end-March 1986, after forecasting only four months ago a likely profit this year of Ms 4 million. Imatex, which at the beginning of last week also announced that it would277 words
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84 1985-12-28 11 Reuter AN INITIAL public share offering by Sime Darby Hongkong Ltd of 117 million shares of HK 50 cents each was 37 per cent subscribed, financial adviser and underwriter N M Rothschild and Sons (Hongkong) Ltd Said. The offer, which comprised 39 millionReuter - 84 words
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Article3038 1985-12-28 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 1,000 units unless otherwise specified. ■CUSTWALS A Choc (1.968 2.055) AMD (3.985) AJcom (0.618 0.625)3,038 words
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Article145 1985-12-28 11 GENTING BHD has appointed Messrs Lim Kok Thay and Lim Chee Wah the joint managing director and the deputy managing director, respectively, from Dec 20. SHANGRI-LA HOTEL announced that Mr Tony Tan Choon Keat was appointed an alternate director to Mr Tan Kim Yeow on Dec 7, 1985.145 words
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Article, Illustration590 1985-12-28 11 CHAN OI CHEE - By CHAN OI CHEE MORE THAN 200 remisiers gathered at an informal meeting yesterday to demonstrate their strength in seeking a solution to the problem of a compulsory 25 per cent cut in commission. No major issues were discussed at the ad-hoc meeting,590 words
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547 1985-12-28 11 SHARE PRICES continued to recover and finished generally higher at the Kuala Lumpur stock market yesterday on fresh buying support. Following a better close on Thursday, the market opened on a steadier note and rose on buying interest until around the noon break when547 words
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Article102 1985-12-28 11 HONGKONG Thursday Closed Hang Seng Index Week ago 1458.8 Friday 1730 37 NEW YORK Thursday Closed Week ago 1720.16 Dow Jones Thursday 1526.49 TOKYO Wednesday Closed Nikkei Average Friday ***** 18 Thursday ***** 59 Week ogo 1543.92 Standard Poors Week ago *****09 Thursday 207.65 Wednesday Closed TSE Index102 words
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Article278 1985-12-28 11 Managers' prices for Dec 28 30 Singapore Unit Trust The Commerce 108 114 The Savings Fund 0 86 0 91 S'pore Prog Fund 0 44 0 47 S pore Set Fund 0 68 0 72 S'pore Invest Fund 0 58 0 62 S'pore Equity Fund 0 47 0278 words
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Page 11 Advertisements
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Advertisement370 1985-12-28 11 NOTICES NOTICE OF PINAL MEETING IN THE MATTER OF THE COMPANIES ACT, CHAPTER 185 AND IN THE MATTER OF HILLSON EQUIPMENT A SERVICES PTE LTD IN VOLUNTARY LIQUIDATION) NOTICE IS HEREBY GIVEN that pursuant to Section 308(1) of The Companies Act, Chapter 185, the Final Meeting of the members of370 words
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Advertisement282 1985-12-28 11 NOTICES IN THE MATTER OE THE COMPANIES ACT, CAP. 183 AND IN THE MATTES OE MING YUAN POOD INDUSTRIES PTE LTD (MEMBERS' VOLUNTARY WINDING UP) At an Extra General Meeting of the members of Ming Yuan Food Industries Pte Ltd duly convened and held on the 24th day of December282 words
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Advertisement271 1985-12-28 11 IN THE MATTER OF THE COMPANIES ACT (CHAPTER 185) AND IN THE MATTER OF HIROKI RESTAURANT PTE LTD (IN VOLUNTARY LIQUIDATION) At an Extraordinary General Meeting of HIROKI RESTAURANT PTE LTD duly convened and held at 257 Selegie Road, #14-279 Selegie Complex, Singapore 0718 on the 20th December 1985, the271 words
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Advertisement264 1985-12-28 11 la tke matter M IV Ompules Act, Cap IK «i TREPEC PTE LTD (la Menken' Velaatary LJqaMattea) NOTICE IS HEREBY GIVEN that a Final General Meeting of the abovenamed Company will be held at 20 Kramat Lane #03-01 A United House, Singapore 0922 on 28th day of January 1986 at264 words
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Article, Illustration534 1985-12-28 12 FOO CHOY PENG - Setback in all sectors except transport and communications, according to preliminary data By FOO CHOY PENG, Chief Reporter THE SINGAPORE ECONOMY shrank by a sharp 5 per cent in the last quarter from a year ago strengthening Prime Minister Lee Kuan Yew's forecast that534 words
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560 1985-12-28 12 MANO SABNANI, SOH TIANG KENG, CHUANG PECK MING, DAVID GABRIEL, SHAHRIR ARIFF - Reports by MANO SABNANI, SOH TIANG KENG, CHUANG PECK MING, DAVID GABRIEL, SHAHRIR ARIFF THE GOVERNMENT'S goal of total home ownership by the turn of the century will not be hindered by a cut in560 words
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610 1985-12-28 12 EMPLOYERS, the major chambers of commerce and banks have all indicated their support for Dr Tony Tan's suggestion that Central Provident Fund contributions be temporarily lowered. ABS chairman, Mr Lee Hee Seng, commenting on the suggestion by the Minister for Trade and Industry, said:610 words
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164 1985-12-28 12 MEMBERS of the Central Provident Fund will be able to use their medisave accounts to settle medical bills in seven private hospitals from Jan 1. The Dec 27 issue of the weekly government gazette, which was released last night, said the seven approved private hospitals164 words
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81 1985-12-28 12 SAUDI ARABIA and Singapore have reached an air services agreement to start twice-week-ly flights between the two countries, the Civil Aviation Authority of Singapore said yesterday. Both national airlines would be allowed to operate two 8747 flights a week via three intermediate81 words
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Article103 1985-12-28 12 A HIGH COURT hearing to decide on the removal of Deloitte, Haskins and Sells as provisional liquidators for Lamipak Industries and its subsidiary, Panther Pte Ltd, was adjourned yesterday to Jan 3. This is just one week before the hearing for a petition to wind up the103 words
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Article416 1985-12-28 12 LIM SOON NEO - By LIM SOON NEO SINGAPORE AIRLINES expects to perform with flying colours in its next financial year ending March 1987 with an estimated after-tax profit of $275 million. This will be 12 per cent higher than the after-tax profit of $245.5 million for its financial416 words
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Article124 1985-12-28 12 SINGAPORE AIRLINES subsidiary Tradewinds chalked up a gross operating profit of $1.5 million in the financial year 1984/85, ended March 1985. This increase of 250 per cent over financial year 1984/85 was achieved as a result of an expansion in the company's activities, said News124 words
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Article59 1985-12-28 12 THE US stock market was moving higher in early trading yesterday although volume remained light. The Dow Jones industrial average, which gained seven points on Thursday, was up six to 1532. Advances led declines by a two-one margin on a turnover of 7.33 million shares. IV Omex59 words
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Article, Illustration170 1985-12-28 12 Reuter AUSTRALIAN gamblers from the southern state of Victoria don't have to take a gamble with the law anymore they take to the skies to beat the state's restrictions. Flying over Bass Strait, 20km off the coast of Victoria, gamblers are winning and losing thousandsReuter - 170 words
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LATE FILE
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Article57 1985-12-28 12 Reuter HONGKONG'S Hang Seng Bank Ltd has agreed to acquire a 50.3 per cent stake in Wing On (Holdings) Ltd's banking unit Wing On Bank Ltd. A joint statement said the move will restore the financial health of Wing On Bank which sufferedReuter - 57 words
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Article56 1985-12-28 12 Reuter THE US dollar fell sharply around midday yesterday in Frankfurt, dipping markedly below the 2.50-mark level on what appeared to be a few corporate sell-orders in a thin post-Christmas market. The dollar dipped first below a resistance point at 2.4980marks and this then triggeredReuter - 56 words
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Article45 1985-12-28 12 Reuter PRESIDENT MARCOS has legalised the manufacture of guns and bullets in about 5,000 "backyard gun shops" in the central Philippines. Mr Marcos issued an executive order making Danao in central Cebu Island a "pilot area for the legalised gunmaking industry". ReuterReuter - 45 words
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Article49 1985-12-28 12 AP KING HUSSEIN of Jordan will meet President Hafez Assad in Syria today for the first time since 1979 as part of a reconciliation effort to patch up differences between the two Arab neighbours. Among others, Prime Minister Zaid Rifai will accompany King Hussein. APAP - 49 words
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Article68 1985-12-28 12 UPI THE Soviet Union has begun approving exit visas for several Russians with links to the US who were promised permission to emigrate by Moscow before the Geneva summit last month. US diplomats said that one of the Soviet citizens, Helle Frejus, who is marriedUPI - 68 words
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Article68 1985-12-28 12 AFP IRAN is planning to build a 322-km pipeline that would enable it to transport oil farther south in the Gulf, out of range of Iraqi planes that have been attacking Iran's main oil terminal at Kharg Island. The National Iranian Oil Company had sentAFP - 68 words
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Page 12 Advertisements
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Advertisement86 1985-12-28 12 THE ASSOCIATION OF BANKS IN SINGAPORE Banking Hours on Tuesday. 31 December 1985 Notice is hereby given that member banks in Singapore will open for business on Tuesday. 31 December 1985 up to 11 30 am only to enable them to close their books for the year. By Order of86 words
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Advertisement275 1985-12-28 12 NOTICES In the Matter af the Companies Act, Cap. 185 Jt CKLIN TRADING COMPANY (PRIV ATE) LIMITED (lnearparated In Singapore) SPECIAL RESOLITION At an Extraordinary General Meeting of the members of the abovenamed company, duly convened and held at 1 Phillip Street *06-01. Cho Building. Singapore 0104 on 19th December275 words
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Advertisement275 1985-12-28 12 THE COMPANIES ACT (CAP. ISS) TAT HUNG CONSTRUCTION (PTE) LTD At an Extraordinary General Meeting of the members of the Co. duly convened and held at 2 pm on the 23 Dec 1985 the following special resolution was duly passed. "That the company be wound up voluntarily pursuant to Section275 words
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Page 12 Miscellaneous
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Miscellaneous65 1985-12-28 12 Outlook for today: Cloudy and windy with showers over a few areas in the morning ond over several areas in the afternoon. Report for 24 hours prior to 7 30pm on Dec 27 at the airport: Maximum temperature 30.5. Associated humidity 69 Minimum temperature 23.8 Associated humidity 91 Hours of65 words
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