The Business Times, 22 February 1986

Total Pages: 12
1 12 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 192/12/85 SATURDAY, FEBRUARY 22, 198« 75 CENTS
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  • 279 1 A STRONG BID to win a contract worth US$2OO million to US$3OO million for the expansion of an airport in Shanghai has been made by a governmentbacked consortium. The bid, for the design and construction of a major extension of Hongqiao Airport,
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  • 534 1  -  By NAJEEB JARHOM CURRENT STOCK MARKET darling Singapore Airlines is heading for a record year of earnings for fiscal 1965/86. Already in the bag is an impressive group after-tax profit of $250 million for the nine months ended December last year. Although
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  • 644 1  - MAS moves on bewilder bankers Intervention bolsters local dollar by 250 points By DAVID GABRIEL Special Correspondent BANKS WERE CAUGHT offguard yesterday by the sudden intervention in the foreign exchange market by the Monetary Authority of Singapore. At about 10.30 am, the MAS moved in and bolstered the value of
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  • Article, Illustration
    93 1 MOST SHAKE PBICEB el—*4 ■ftrgtattUj tower ea Ike Wagapere stock narket yesterday after preflt take» MM to eaeh to ea their galea toltowtag Tlaraday's The Straits Ttmee ladastrlal Mei eleeed with a 1.45-pelat drep to Mt.44 while Ike Bastoees Times Cimpeette Mex eaded J2 peiat tower at Mil.
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  • 48 1 FOREIGN CAPITAL investment in Indonesia was US$B59 million in 1965, a decrease of 22.4 per cent from 1984, the capital investment coordinating board said yesterday. Investment by domestic investors, however, was up 78.6 per cent to 3.75 trillion rupiahs ($3.75 billion), the board said.
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  • 308 1 A SINGAPORE-BASED merchant bank is assisting Perth entrepreneur Robert Holmes a Court in his ambition to take over Australia's biggest company, BHP. Citicorp Investment Bank (Singapore) Ltd has arranged a US$2OO million note issuance facility (NIF) for Bell Resources, a wholly-owned subsidiary
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  • 86 1 THE GOVERNMENT has declared the biotechnology industry as one of the pioneer industries of Singapore. The declaration, made through the Economic Expansion Incentives (Relief from Income Tax) Act, was recorded in the government gazette published yesterday. Expected to come into effect next month, it will give selected
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  • 100 1 AP OIL PRICES fell below US$l4 a barrel on Thursday on the New York Mercantile Exchange, passing another milepost in their runaway decline. Only on Tuesday, crude oil slumped below $15 for the first time on the mercantile exchange. And it was less than three
    AP  -  100 words
  • 461 1 PUBLIC SECTOR employees used to getting a half-month incentive payment in July will not get it this year. The decision to stop the payment, introduced in 1961, was made at yesterday's meeting between officials of the Finance Ministry and public sector staff unions
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  • Page 1 Advertisements
    • 103 1 OPPORTUNITIES IN CHINA The challenges of new markets have led us to a worldwide network covering 65 countries. Our most recent challenge is the opening of yet another door, in China, with the establishing of our branch in Shenzhen. This means that we now operate directly in China to assist
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    • 256 1 SHARE INFORMATION MONEY S EXCHANGES RAW MATERIALS SHIPS IN PORT CROSSWORDS TV A RADIO OUR VIEW THE FEDERAL RESERVE BANK of America has mislaid US$l36 billion, or at least it doesn't know where this huge amount of cash happens to be. Theories abound. Is it in the youngsters' piggy banks
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    • 0 1 '(=._~[<(+$~"_*/"/$>.^?=`!$:$*:
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    • 93 1 E N E X A S I A3" =m electricSB ASIA 86 S E Asia s 6th International Exhibition of Electrical Engineering,lnstrumentation. Controls,?ittings and Accessories 21 25 October 1986 World Trade Centre, Singapore INTERFAMA EXHIBITIONS PTE LTD Parkway Bu«'ders Centra alO 03 06 1 Marin«- PardOe Central Singapore 1544 Tel
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  • HOME NEWS
    • 520 2  -  Ministry statistics put the stock at 60,000 By LEE HAN SHIH Property Correspondent THE STOCK of private residential housing in Singapore may reach 60,000 by the end of 1990, including 43,500 flats and condominium units. This would be a 53 per cent rise
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    • 410 2  -  By LOH HUI YIN THE RESPONSIBILITY for corporate failure was laid squarely on company management yesterday by the chairman of the Shell group in Singapore, Mr Dick van Hilten. "The quality of management determines the success or failure of a company, regardless of its
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    • 431 2  -  By ELAINE KOH A VISITING Canadian economist agreed with President Wee Kim Wee's estimation that Singapore could well be out of the recession in a year-and-a-half, "if it was lucky". Going by the Canadian experience, which saw the country suffering a recession between 1981
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    • 158 2 THE Housing and Development Board has received nearly 2,000 applications to buy flats under a special scheme for low-income families, two months after its introduction. HDB announced just before Christmas a special scheme where payment can be made over 25 years instead of 20.
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    • 67 2 MOBIL has cut the price of its 11.39 kg domestic liquefied petroleum gas cylinders by 50 cents to $15.95 and its 50 kg industrial cylinders by $2 to $65.50. Although Mobil was the first among the six LPG suppliers to indicate that it would slash
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    • 297 2 TIME PROMISES to go by in Casablanca, which means "white house", notably in the Mediterranean. But the one behind the large banana plant in Emerald Hill Road is all set to be "a cool, quiet, sophisticated sanctuary in the hustle and bustle of Singapore".
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    • 412 2 THE FIRST financial joint venture between Singapore and China was launched in the Republic yesterday with the signing of an agreement to establish Central China International Leasing (CCIL) with a paid-up capital of US$5 million. The parties which signed the agreement on the 50th floor of
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    • 223 2 A CONSORTIUM of 16 furniture makers and retailers, formed specially to promote their products through exhibitions, are confident of spinning about $5 million from their second show beginning today. But the prime objective in organising the show is not profit-making, or so the
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    • 169 2 STRONG DEMAND for the Piya Bhum since its maiden voyage in February 1981 has prompted the owner to expend $1 million in stretching its capacity. Regional Container Line (RCL), a Singapore-Thai venture, has awarded the job to Jurong Shipyard. The container capacity of the vessel will be
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    • 59 2 QUEEN ELIZABETH and Prince Philip stopped over in Singapore yesterday. The royal couple were enroute to Australia and New Zealand. They will stop over again on March 13 on their return journey. The Minister for Communications and Information and Second Minister for Defence, Dr Yeo Ning Hong, and
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    • 98 2 THE ECONOMIC SOCIETY of Singapore is holding a closed door forum on the Economic Committee's Report at the Westin Plaza Hotel next Friday. Chairing the forum will be Professor Lim Chong Yah who is the president of the society. Other members of the panel are Mr
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    • 338 2 TENDERS FOR AN $80 million expressway project linking the Pan Island Expressway to Elias Road off Tampines were called yesterday. Judging from tenders submitted in previous months, some 15 to 20 contractors are expected to bid for the Phase One project of Tampines
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    • 113 2 108m to be spent on CCs AN ESTIMATED $106 million will be spent on the building of community centres in the next 15 years. The government has given approval for the People's Association to build 36 community centres in 12 Housing and Development Board new towns, according to a report
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  • 752 2 AT CONVENTIONAL WHARVES Vessel Berth Agent Arrival Departure KEPPEL WHARVES Auby K25W SSPL 22.2 86/1200 23.2.86/1500 Daye KI5 Y Fung 22.2.86/1600 01.3.86/2300 Equator 5 K23 Thong Soon 22.2.86/0700 23.2.86/0700 Koto Wangsa K31 P1L 22.2.86/0600 24.2.86/0600 Larkspur K16 Borneo 22.2.86/1800 23.2 86/1200 Ned Bahrain K12 Ned-EAC 22.2.86/0530 23.2.86/0800
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  • OVERSEAS
    • 552 3 UPI THE CHIEF US trade negotiator has predicted that the nation's trade deficit will improve this year and hinted the government will take further action to discourage unfair trading practices by other countries. US Trade Representative Clayton Yeutter told the House Ways
      UPI  -  552 words
    • 490 3 AP A PLAN OF President Ronald Reagan's administration to subsidise American exports may add a billion dollars or more to the US budget in spite'of efforts to cut it. A key congressman in Washington said on Thursday that the money would go
      AP  -  490 words
    • 311 3 Reuter LONG-TERM US interest rates have scope to fall considerably further in the months ahead even though Fed chairman Paul Volcker has dashed hopes of an immediate relaxation of monetary policy, according to economists. Thursday's reserve data showed that there had been no
      Reuter  -  311 words
    • 252 3 AFP THE SOUTH AFRICAN government on Thursday announced the opening of the central business districts of Johannesburg and the Indian ocean port city of Durban to all races. The Minister of Constitutional Development and Planning, Chris Heunis, said business racial segregation would also
      AFP  -  252 words
    • 790 3 ARRIVALS Operator Service number Local time From KAL KE624 0850 KUL MAS MH603 0905 KUL MAS MH67I 0935 KUL MAS MH811 0940 PEN CAL CI806 0945 CGK SIA SQ103 1005 KUL AC AC858 1020 YYZ/LHR/BOM CPA CX7I0 1030 CGK RBA BI421 1030 BWN GIA GA960 1100 CGK
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    • 319 3 Reuter TREASURY SECRETARY James Baker has repeated calls for a further weakening of the dollar on world markets despite warnings by Federal Reserve chairman Paul Volcker that the currency may be near a perilous zone. And while aides describe the differences
      Reuter  -  319 words
    • 656 3 NYT THURSDAY'S revised data which showed that the US economy had grown at an annual rate of 1.2 per cent in the final three months of last year, only half as fast as was estimated in January, helped push interest rates
      NYT  -  656 words
    • 191 3 Reuter US SENATORS Alfonse d'A ma to and Alan Dixon have proposed legislation setting up a one-time federal tax amnesty programme that would allow taxpayers to pay taxes and 50 per cent of the accrued interest owed to the federal government. Treasury Secretary
      Reuter  -  191 words
    • 530 4 Officials say divestment by the state helps growth NYT REAGAN administration officials have declared that the extent of US assistance for some developing countries will depend on their efforts to transfer public assets and programmes to the private industry. The remarks were
      NYT  -  530 words
    • 103 4 AFP LIBYAN LEADER Colonel Muammer Gaddafi has called on Americans to press their government for better relations with Arab countries in conformity with "the unique ideals of the great American revolution". Colonel Gaddafi, in an open letter to Americans given to US national Mohamad Mehdi,
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    • 191 4 THE JAPANESE ECONOMY is maintaining its gradual expansion but pressure from the sharp appreciation of the yen on industrial production and capital spending is bound to increase. The Economic Planning Agency (EPA) said in its monthly economic report, released yesterday, that the basic assessment of the
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    • 159 4 Reuter CHINA IS MOVING to promote domestic investment in its four special economic zones, with measures such as reduced taxes on ventures from other areas of the country, a Shenzhen special economic zone official said. Qu Hua, the deputy secretary of the municipal government
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    • 112 4 Bernama MALAYSIAN Trade and Industry Minister Tengku Razaleigh Hamzah said that there were already signs that the Malaysian electronics industry would recover from the effects of the recession. Demand for electronics goods was beginning to show an increase in certain countries whose economic situation
      Bernama  -  112 words
    • 391 4 AP PRESIDENT Ronald Reagan has expressed disappointment over the performance of his economic stimulus programme for the Caribbean but pledged that "we're going to improve it". At a meeting in Grenada with nine premiers of Englishspeaking democracies in the region on Thursday,
      AP  -  391 words
    • 254 4 AP CHINA and other East Asian countries, united in their anxiety that the US will close its markets to their goods, have been assured that President Reagan's administration will continue to block protectionist legislation. Reagan's deputy special trade representative, Ambassador Alan Woods, said there was
      AP  -  254 words
  • Page 3 Advertisements
    • 66 3 LMLXIk' At Orchard Road Branch from 9.30am-11.30am Effective from February 22nd 1986 To celebrate, ,1 we're offering you a handsome golden keychain Free with every new account or additional deposits made on existing q accounts. Available H only on Saturday, February 22nd. K While stocks last. 1 CITIBANCO The NAforld's
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  • RAW MATERIALS
    • 152 4 Chinese Produce Robusta 20/25% Exchange FOB NSW ***** Sellers' noon closing prices on Feb 21 (SS/100 kg). Nutmeg 110 FOB NSW 744 00 Coconut oil E&W FOB NSW 661 00 Bulk FOB 58 00 Gambier Old drum FOB 71 00 FOB NSW 330 00 Ne« drum FOB 7500
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    • 188 4 Bangkok 1st class unq (US$/tonne, FOB) 2nd class Special 3% unq White Rice new crop unq 100% 1st class 265 100% 2nd closs 240 Broken 100% 3rd class 5% 235 225 Fragrant Rice unq 10% 220 Thai White 15% 20% 25% 35% 215 205 195 190 100% old crop
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    • 160 4 TIN en the KLTM gained 2( cents to close at M529.2C per kg yesterday, adding to Thursday's $1.24 advance in (airly quiet trading. The higher price reflected the continued low quantity of metal sopplied to the market, though this increased to 8t tonnes from SS tonnes on Thursday.
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    • 126 4 AFP WORLD wheat production this year could recover the loss of 2 per cent or 11 million tonnes last year, to match the record level of 521 million tonnes touched in 1964. The International Wheat Council (IWC) said that this estimate is based on
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    • 331 4 SINGAPORE The market closed steady yesterday with March One RSS buyers quoted at 174.00 cents per kg, unchanged from Thursday. Dealers said the morning session gained one cent, after moving uncertainly in quiet trading. The gain was erased in quiet afternoon trading due to lack of interest and fresh
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    • 242 4 MARCH WHEAT futures on the Chicago Board of Trade closed sharply higher on Thursday, up 5 3 < US cents at $3.31 3 a bushel, while other contracts ranged 3 to l'/i cent lower. May, July and September made new contract lows. Short-covering after Wednesday's 10-cent drop pushed March
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    • 199 4 MALAYSIAN crude palm oil closed lower on renewed selling and buyer reserve yesterday, in sympathy with continued weakness in Chicago soy oil futures. Poor overseas demand after India again rejected all vegetable oil offers at its weekly import tender on Thursday, coupled with market talk of growing palm
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    • 327 4 RAS prices in S cents/kg, FOB in boles NOON CLOSE Buyers Sellers Buyers Sellers lot 1 RSS Prompt 174 00 176 00N ***** 175 OON Int I RSS Mar 86 175 00 176 00 174 00 175 00 Int 1 RSS Apr 86 184 00 185 00
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    • 108 4 (cents/kg, 1-ton pallets) 86 ARL 86 (current month) (forward month) RAS NOON NOON Buyers Sellers Buyers Sellers SSR 20 180 00 182 OON 181 00 183 OON SSR 50 175 50 177 SON 176 50 178 50N MRELB Buyers Sellers Buyers Sellers SMR CV 241 50 243
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    • 208 4 SOYBEAN FUTURES on the Chicago Board of Trade extended midday losses late on professional selling and settled 2V4 to five US cents per bushel lower on Thursday. Spot March ended down 2 1 i cents at $5.18 3 /4 a bushel. Sales of about seven million bushels of March
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    • 591 4 COFFEE New York's failure to sustain early sharp rises on Thursday afternoon weighed on robusta futures to end the day at or near the lows of a maximum £80 traded range, with losses from Wednesday night of £41 to £60 a tonne. The market remained steady through the
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  • Page 4 Miscellaneous
    • 50 4 Doonesbury I BLEW IT! I MM' MADEATUTAL CAN7LETTHE i FOOL OUT OF QSJ'fJt 657 MYSELF' 70 PU- £> K 1= /TS NOT FAIR! THE PUBUC SHOULD BE ALLOUJ6D TOPBave for itself* ujho cares WHAT A BUNCH OF EMBITTERED OLPMEN THINK? m w. IfsW'A j MMM rM-i 1 it BY GARRY
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  • BANKING AND FINANCE
    • 330 5  -  By ALVIN TAY SINGAPORE'S oldest bank, the Algemene Bank Nederland NV, has revamped its organisational structure to meet new challenges and to take advantage of new growth areas. The Dutch bank, which operates a full-banking licence here, will be divided into three divisions administration, commercial
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    • 57 5 COMMERZBANK (South-east Asia) has raised its share capital by $10 million to $40 million, reflecting the German merchant bank's confidence in Singapore and the region. Managing director Klaus Patig said the increase was effected yesterday. The new shares were issued at a premium of 30 per cent,
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    • 352 5  -  By SOH TIANG KENG Financial Correspondent OFFSHORE BANKS in Singapore, which normally lend money in tens and hundreds of millions of dollars, have "syndicated" a very small and somewhat unusual financing facility in the form of a $9,000 scholarship. The money will enable a former
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    • 143 5 THE PRICE of US$l.OB billion to be paid by Wells Fargo and Company to Midland Bank for Crocker National Corporation of California represents a premium of about 25 per cent over Crocker's reported net tangible assets. This was stated in a letter sent yesterday by
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    • 240 5 AFP CHINESE BANKS should attract more savers to ease an expected severe shortage of funds for development loans this year. Chen Muhua, the chief of the People's Bank of China, told a hanking conference on Thursday that enormous sums of money would be
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    • 127 5 AFP A REALIGNMENT of the currencies in the European Monetary System (EMS), including a devaluation of the French franc, will probably take place in April after the French legislative and regional elections on March 16. The Midland Bank forecast on Thursday that pressure for this
      AFP  -  127 words
    • 54 5 ■DBS FINANCE yesterday lowered its fixed deposit rates by one-quarter percentage point across-the-board. The finance company will pay 4.75 per cent for deposits with maturities of up to six months, and 5 per cent for the nine- and 12-month periods. Savings rate remains unchanged
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    • 300 5 NYT SOUTH AFRICA and its major creditor banks tentatively agreed on Thursday to an arrangement under which the foreign hanks will maintain and renew existing loans to South Africa. Fritz Leutwiler, the Swiss mediator in the talks, emphasised that the agreement was a short-term compromise,
      NYT  -  300 words
  • MONEY AND EXCHANGES
    • 928 5 SINGAPORE The US dollar closed sharply higher yesterday against most currencies, after volatile and nervous trading. Dealers said intervention by the Monetary Authority of Singapore (MAS) helped the Singapore dollar to firm after its early weakness. They said the MAS intervened in the morning when the local dollar
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    • 82 5 RESULTS OF TENDER held on Feb 21 for 91-day Treasury bills from Feb 24 to Feb 28: Offered: $100,000,000 Applied for: $226,030,000 Aifotted: $100,000,000 Accepted bids: $99.33 approximately 62 per cent, higher bids in full. Average rate ef disceut m allotment: 2.680 per cent per annum. 182-day bills
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    • 72 5 THE OVERNIGHT rate on the Singapore interbank money market rose 9H points from Thursday to close at 15 per cent yesterday. The one-month term rate rose by s'/« points, the two-month rate rose by 4'A points while the threemonth rose by 2-3/16 points. S$ Interbonk rotes at 7pm
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    • 350 5 BA Futures JUNE Earsdsllar opened slightly lower yesterday than Thursday's Simex close but unchanged from CME's close. After opening at 92.07 in the June contract, the market edged up to 92.09 in quiet trading on post futures cash market gains in the US Treasury bonds as a result of
      BA Futures  -  350 words
    • 235 5 HONGKONG: The metal closed firmer yesterday on fairly active short-covering ahead of the weekend by commission houses. The bullion price finished at U*****.80/341.10 an ounce against an initial $340.30/80 and New York's final $338.75/339.25. On the local market, gold ended HK$2 higher at $3,159 a tael. The krugerrand price
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    • Article, Illustration
      306 5 Asian market ASIAN DOLLAR deposit rates closed steady at opening levels yesterday, which were mostly unchanged from overnight close. Trading was thin as operators remained largely sidelined due to continued uncertainty over the direction of interest rates. A lower federal funds rate saw overnight easing 1/16 point to 7-15/16 7-13/16
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  • Page 5 Advertisements
    • 290 5 Republic National Bank of New York A subsidiary of REPUBLIC NEW YORK CORPORATION Consolidated Statements of Condition (In Thousands) December 31 1985 1984 Liabilities and Stockholder's Equity Non-interest bearing deposits In domestic offices In foreign offices Interest beanng deposits In domestic offices In foreign offices Total deposits Short-term borrowings Acceptances
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  • TIME – OFF
    • 483 6 MR MICAWBER, that loveable Dickensian character who was forever short of a few readies but was always confidently expecting something to turn up, would have been in his element with the cashless society. ATMs, electronic transfers, credit cards and rarely a need for a few pennies in
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    • 1021 6  -  British Airways introduces gourmet food on its jumbo and Concorde flights It's going to be more difficult now to decide between cheap air tickets and good food as British Airways has hired a French chef to improve its airplane fare, in keeping with the
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    • 278 6 THOSE who follow SBC's new "What's Cooking?" series in English have good reasons to be puzzled if their attempts do not quite turn out right. Occasionally, SBC has Man-darin-speaking chefs on the programme and the English- speaking host does not always translate the names of all
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    • 1157 6 What's on from Feb 22-28 CONCERT: SSO features Seow Yit Kin. Victoria Concert Hall. 8.15pm. Featured are Goehr's Deux Etudes, Beethoven's concerto for piano and orchestra no 4 in G, op 58 and Bizet's symphony in C minor. Tickets: $4, $7, $10, $15. EXHIBITIONS: Our Silver Heritage. National Museum.
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    • 274 6 DESIGN la ii every facet af everyday life from the objects one uses to the buildings in which eoe lives or works. The way objects are shaped er built, like flae works of art, refleets the changing tastes of society, era hy era. Objects of
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  • Page 6 Miscellaneous
    • 777 6 Em s .iim CRYPTIC PUZZLE ACROSS 9 Regardless, whatever the speed (2, 3, 4) 10 Signal meaning consomme for everyone!* (3-5) 12 A measuring apparatus, we're told, for fruit (4) 13 In "The Saint," playing Rex is hard work (6) 14 Material from the USSR to stir up the English
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  • SPORTS
    • 307 7 AP IN THE WORST SCANDAL since horse racing became professional in Hongkong 15 years ago, authorities on Thursday arrested 22 people, including several foreign jockeys, on suspicion of malpractices. The identities of those arrested by the Independent Commission Against Corruption (ICAC) cannot be disclosed for
      AP  -  307 words
    • 428 7 UPI EUROPEAN CHAMPION Frank Bruno's prize for beating South African Gerrie Coetzee will be a shot at Tim Witherspoon's World Boxing Association heavyweight title in a £3-million promotion at Wembley Stadium on June 14. "This means a dream
      UPI  -  428 words
    • 395 7 AP THE SAIL AMERICA Foundation's efforts to recapture the America's Cup from Australia next year are proceeding on schedule after receiving a boost from last week's 12-metre yacht world championship results, according to skipper Dennis Connor. "We're right on schedule for building our boats and
      AP  -  395 words
    • 566 7  -  By BRIAN MILLER AS EXPECTED, Lester Piggott was all the rage in Penang last week. He had 11 mounts in the two days of racing and each was backed like it had an extra leg and a pair of wings. Piggott tried. That
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    • 441 7  -  By WALTON MORAIS AFTER THE initial setbacks to their Finnish and Korean plans, the Singapore Davis Cup tennis squad members can now look forward to the Aussie connection helping them prepare for the Eastern zone first round tie against Taiwan. For in
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    • 192 7 AP SECOND-SEEDED Steffi Graf, playing practically flawless power tennis, defeated seventhseeded Helena Sukova 6-2, 6-1 in a 50-minute semifinal at the US$l.B-million Lipton International Players championships on Thursday. Sukova broke Graf's serve in the first game of the match, but that was the high
      AP  -  192 words
    • 280 7 WHILE CHARITY is top priority, the star-studded amateur field at tomorrow's Warren Open A Division golf championship will ensure that sport is a winner too. Almost all the top players who'll figure in the jostling for national team spots this season will
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    • 285 7 AP AUSTRALIAN Noel Ratcliffe, who has toiled on the international circuit with little recognition for eight years, was a surprise joint leader after Thursday's first round of the Australian Masters in Huntingdale. Ratcliffe fired a four-under par 69 to be part of the threeway
      AP  -  285 words
  • Page 7 Miscellaneous
    • 1162 7 TO cm SMDHD SATURDAY NIGHT MOVIE Women of San Quentin 11.20 pm, Channel 5 Occupational hazards are given new meaning in this drama about what it is like to be a woman guarding male prisoners at the infamous San Quentin jail. Amy Steel stars as Liz Larson, a rookie prison
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    • 28 7 Bri£tc*^l my vooRD. ujc do uook sphrrt just thinking Pi SOU T MGR roBK£,S me GO P\LL OF F\ DOO DPiH THe Goß&ePos s #r GOODNESS GRPiCOUS me..
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  • INTERNATIONAL STOCKS
    • 278 8 FT COCA-COLA, the world's largest soft drinks group, has announced plans to acquire Dr Pepper, the fourth largest US soft drinks company which was turned into a private company in a leveraged buyout two years ago, for US$47O million. The deal comes less than a
      FT  -  278 words
    • 178 8 AFP GUINNESS has made a new takeover bid worth £2.45 billion for the Distillers whisky group, whose management supported the offer. The figure, up from £2.2 billion, compared with an Argyll Food Group bid of £2.3 billion early this month, itself a jump from an
      AFP  -  178 words
    • 308 8 Reuter THE STOCK MARKET Hexed its muscle on Thursday, grabbing back most of Wednesday's sharp loss in the final hour of trading. Traders cited buy programmes, a lack of any conviction for a continued selloff, supportive bonds and lower oil prices. The
      Reuter  -  308 words
    • 116 8 FEB 20 AMU C$ 23 Imp Ol IfKO 42* 19 39* Alcon 44* 20* B Algoma 17* •1 I6*B Argo«n H<Jg» 24* 30* Bank Nova ScotM 13 Mc Btodct 26* unch BP Can Ltd 26* Motean A 23* 31* 40* Can Imp Bk 20* 17* Norondo Mn 15* Carina
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    • 217 8 FEB 20 Bond UTOMC Wooiworth 1375 unch MDUSTYIALS MININGS A Alpha 1375 unch 5 unch 35 50 Anglo* 4085 -15 AITW f 565 Bhrr 00 1620 20 AMIC 4200 Buffcta 7225 unch Bodows 1550 unch inch unch 5 Cora Gold 1900 50 CNA 725 Cora Murch 950 inch D«
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    • 649 8 FEI 20 uss Ale or AJurrwi Alcoo Lud Ahcd Cham Cp AAed Stores Afts-Chalmers Am Brands Inc Am Broodcost Am Con Co Am Cyanarr»d Am Etoc Pwr Am Exprau Am Horn* Prod Am Motors Cp Am Natural Gas Am Tel Tel Amox Inc Amerodo H«m AMF Inc Amr
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    • 680 8 Amsterdam FU 20 Fh ABN 102 30 1 8 Ahotd Akzo AMEV Amfm 72 90 -19 158 10 -2 6 78 20 +07 105 50 -0 5 3600 -1 Boh ***** +5 Botkote Bur Tat ***** +15 Cokmd Calve CM M, ***** -4 162 00 -0 5 Fofcker
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    • 111 8 Reuter BRITISH PETROLEUM has announced a healthy rise in its profits (or 1965 but said plummetting world oil prices could dent this year's figures. BP made £1.6 billion last year compared with £1.4 billion in 1964. It cited higher profits from marketing and refining following
      Reuter  -  111 words
  • Page 8 Advertisements
    • 98 8 WSaere to wisae, iint ani estfertalii BBQ a la carte buffet style! At v <N v* k Ckirc n \ti kTS' -y A .>> ft r For a meal with a difference, try a la carte 880 inclusive of Salad Bar and coffee or tea Available for dinner from Sunday
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    • 168 8 International Buffet Fashion Fare At: $10,50* ONLY t*r A M V FERN TREE CAFE The Fare: Besides a sumptuous international buffet, come and savour our air-flown oysters from New Zealand at $1.25* per piece. Daily from 11.30 am to 2.30pm. The Fashion: A delicious romp into the spectacular world of
      168 words
    • 225 8 T T W \VI Top band n laMian TheseSsinpng gunnMjui finished a fr<nor*n vncfrtq stmt m japan ftwivaaous group compnes tf*f muscal taierts »v*n supert) showmansrtp to gr* cop class entertarvner* *«M tf** cnarrr«ng rendnon of EngWr Mandann Japanese. Cantonese and I V- i A v From fst January !986
      225 words
    • 140 8 May Good Fortune Tl and >T Prosperity w be yours at IU Furama with our Jf Yu Sheng. 4\ Dine on our freshly F prepared Good Luck Raw Fish A and we're sure good fortune VMIV and prosperity will be yours I this year. (Available from li February 9th to
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    • 155 8 London stocks on back dim TT A AND THE PERFECT COMBINATION GOOD MI'SIC AND GOOD WINE GOOD FRIENDS AND LAUGHTER YOU AND YOURS AT THE LOUNGE ROSEMARIE. DAISY. MANUELICA AND EMMANTF.L. WITH TOP CHARTERS OLDIES AND ROCK N ROLL PIT EVERYTHING INTO PERFECT COMBINATION FOR A PERFECT NIGHT OUT HONGBAO
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  • ASIAN STOCKS
    • 393 9 HONGKONG: STOCKS yesterday rebounded to close higher after falling initially on concerns that local businessmen might be implicated in a local horse racing scandal, brokers said. The Hang Seng Index finished 13.89 points higher at 1,747.06 after lagging nearly 12 points earlier. Brokers said share prices were pressured by
      393 words
    • 238 9 FES 21 NT J Lien Hwo Indus 1490 0 25 Nan Yo Plos 34 10 -0 1 2 57 -0 13 Pacific Cons 20 60 -0.1 Asm Cement 26 40 unch Pacific Elect 32 00 -02 Wire 1580 02 Chang Hwa Bonk 50 50 05 Poolung Poper 1 06
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    • 416 9 TOKYO: Share prices rose in active trading as buyers shifted focus from domestic-oriented shares to recently weak export-oriented electronics, brokers said. The market average rose 38.90 to 13,394.31 after falling a steep 111.24 on Thursday. Turnover was 410 million shares against 530 million on Thursday. The broader-based Tokyo Stock
      416 words
    • 79 9 FEB 21 Moreteel Oriental B 0009 -0 002 PhJ«» B 0 1450 0 005 0001 unch Pic op B Apex Mjrxnq B 0009 -0 0005 Arias Coo 0 10 2 Podco B ami Pogei Basic Petroteum 0 0028 unch Son Migu«4 B 20 -0 5 Benguet Coo B 106
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    • 470 9 SYDNEY: Australian share markets closed firmer on strong gains in industrials, with situation stocks dominating trading generally. At the close the All Ordinaries Index had risen 4.1 points to 1056.4, the All Industrials Index had gained 7.3 points to a record 1633.8 and the All Resources Index 1.9 points
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    • 96 9 FEB 21 Won Hyundai Const 990 unch Hyundai Motor 2309 -I Bonk Seoul 650 unch KAL 665 -13 Choheung Bk 597 -3 Korea First 651 unch Commerciol Bk 670 unch Yukong Korea Ship 1850 70 Doelim tnd 525 17 330 -5 Doe~oo Corp 752 50 Lucky Ltd 920 -10
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    • 150 9 BANGKOK: Bangkok stock prices closed generally steady this week in quiet trading, although the reduction of local oil prices had little impact. Brokers said the Securities Exchange of Thailand Index rose a total 0.13 points to 137.09. FEB 21 A ok ham Thai Mm S«am Citizen S-arn Oty Cement
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    • 70 9 Reuter SCILLA LTD will invest a total of HK$l.3 billion in a hotel and office block development in Hongkong's Kowloon tourist district. Scilla, a 50-50 joint venture between Sing Tao Ltd and Impala Pacific Corp Ltd, bought the site at government auction in October for $636
      Reuter  -  70 words
    • 430 9 Reuter JAPAN'S struggling petrochemical industry expects profits from lower crude import bills and the yen's strength against the dollar to disappear under pressure from manufacturers wanting lower prices, industry sources said. Assuming a 20 per cent increase in the yen's value to 200 to the
      Reuter  -  430 words
    • 104 9 AP THE AMERICAN company Caltex Pacific Indonesia has found new oil deposits in its operational area in the western Sumatra province of Riau, the stateowned Pertamina Oil Co announced on Thursday. Pertamina spokesman Hamzah Abdullah said that in a test earlier this month, an oil
      AP  -  104 words
    • 320 9 Reuter SING TAO LTD's proposed initial public offering of 60 million shares will be priced at HK$l.BO each, according to underwriter Standard Chartered Asia Ltd. The offer comprises 48 million new shares and 12 million existing shares, all with a par value
      Reuter  -  320 words
  • Page 9 Advertisements
    • 47 9 T S3 H) sr^ i 4 r--"S Pf Ss inp The start of an experience so authentic yet unique. I 3* am «rs m §w Opening Hours: Lunch: 11 a.m. to 3 p.m. Dinner: 6 p.m. to 10.30 p.m. KINTA-MANI -INDONESIAN RESTAURANTBring the New Year to life!
      47 words
    • 126 9 f > sL> Black Velvet Gold sizzling night spot in the very heart of town Where laser light effects and foot fluttering numbers will make you want to boogie all night long Black Velvet Gold Your ultimate destination for a groovin' good time No covor charge during tho first hour
      126 words
    • 173 9 Paramount Hotel Where the happy people go ft •si 'vW mora We're blasting off tonight and every night at Para Wave Discotheque Take off to the stars groove to the pulsating rhythms spun by the dynamic music makers. Solosa Sound Services Business Hours First Drink Charge Weekdays Sundays: 9pm 2am:
      173 words
    • 204 9 THE HUNGARIANS ARE COMING! Magnificent Magyar dishes recreated by a group of chefs headed by the award-winning chef of Atrium Hyatt Budapest, will make you ask for more at the Hungarian Food Festival at February 24 March 2. Lunch buffet $26+4- per person Dinner a la carte menu FOOOS* BEVERAGES
      204 words
    • 201 9 Life after five... 2 Live Buds Nightly! spm 1 am (Monday Friday Sunday) spm 2am (Sat eve of public holiday) HAPPY HOURS spm 7pm (Daily) It's a real happy time! Just buy a drink and get the second FREE. FREEDIAN XIN every night i MUiXHU t tHtfNIIIK hOUBM (CAIRNHILL HOTEL)
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  • SHARE INFORMATION
    • 4232 10 IN SPITE OF a promising start, the Singapore stock market yesterday closed with more losers than gainers as profit-takers swept the trading floor in the afternoon. There were 80 price falls against 67 rises. The Straits Times Industrial Index, a 4.26-point gainer at
      4,232 words
    • 276 10 SINGAPORE Rises lm iicti iwwh HUgs 135 n-'- r AC rMMS Tj 0 C 1 C 740 S P M 650 M» PInmn 50< 90 H Lm*| Fin 218 Indicop* 160 Prian 468 B A T 22* 165 Sin Lin 147 SmI he 53 ICS 452 H
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    • 3905 10 SECTION ONE INDUSTRIAL COMMERCIAL Acmo (0.73 V* 8 0.765) (I) 0.73 (1) 0 75 (3) 076 (I) 0 73V* Alcom (0.585) Allied Choc (I) 189 (2) I 90(1) I 86 Amol S»ml 50« (0 69V*B 0.715) (24) 0 74 (2) 0 73 (2) 0 72
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  • Page 10 Advertisements

  • COMPANY NEWS
    • 275 11 By HOCK LOCK SIEW ANOTHER people-intensive and profitably run local company which could reap handsome gains from the incentives proposed by the Economic Committee is Singapore Bus Services (1978) Ltd. Like a typical laggard stock, this counter would spend months at a stretch doing
      By HOCK LOCK SIEW  -  275 words
    • 89 11 LINGUI Developments Bhd has released its unaudited half-year results to Dec 31, 1985. Group pre-tax profits were slashed by half to M 51.48 million from $2.97 million previously. Total group turnover amounted to $16.58 million, up 7 per cent from $15.49 million in 1984. The reduction
      89 words
    • 452 11 SHARE PRICES ended mixed on the Kuala Lumpur stock market yesterday due to profit-taking after having surged ahead for the previous three days. Selected counters which had shot up impressively in the previous days, recorded moderate losses. However, renewed interest near the close helped these issues
      452 words
    • 379 11 Cycle Carriage denies part in Pan-El rescue Bernama CYCLE AND CARRIAGE Ltd (CCL) chairman Tan Sri Basir Ismail has denied that the company was involved in a reported rescue plan for Pan-Electric Industries Ltd. He said press reports suggesting CCL's involvement in the rescue plan were "baseless and not true".
      Bernama  -  379 words
    • 109 11 HONGKONG Thursday 1626 4 Hang S«ng Index Week ago 1598 4 Friday 1747.06 NEW YORK Thursday 1733.17 Week ago 1777 54 Dow Jones TOKYO Thursday 1672.82 Wednesday 1658 26 Nikkei Average Week ago 1645 07 Friday ***** 31 Thursday ***** 41 Standard Poors Week ago ***** 78 Thursday
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    • 278 11 Managers' prices > MARA-Bumiputra for Feb 22 24 First B'putra 4 51 4 56 Singapore Unit Trust Second B'putra Third B'putra 4 25 4 30 3 47 3 52 The Commerce 0 89 0 94 Fourth B'putra 3 72 3 77 The Sovings Fund 0 78 0 83
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    • 396 11  -  By RAMESH CHANDIRAMANI OVERSEAS UNION Securities Ltd, the second bank-affiliated investment trust to release its audited full-year report yesterday, has managed to put on a creditable show. The closed-end unit trust managed by the Overseas Union Bank group posted a 54.4 per cent
      396 words
    • 96 11 PELANGI Bbd's registrars have discovered a share certificiate forgery. The purported scrip, which bore the number *****690, was for 10,000 shares registered in the name of Tan Heng Kian. It was sent to the company's registrars in the name of Hung Wah Fong. The company says it did
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    • 159 11 BANQUE INDOSUEZ has obtained judgement against PanElectric Industries and Viscountmarine Ltd for U*****,322 plus interest. This is in connection with a letter of credit issued for the purchase of a container vessel. The bank's lawyers, Netto, Low, Abraham and Partners, revealed this in
      159 words
    • 337 11 MBT THE KUALA Lumpur Stock Exchange (KLSE) has asked its members to submit details of their corporatisation plans. The deadline for the launch of the corpora tisation programme is April 1. A stockbroking source said a circular requesting details of any such plans
      MBT  -  337 words
    • 3818 11 MDUS TRIALS A Choc (2.185) xd AMD (3.905) (I) 3 90 Alcom (0 60S) (1)0 61 (10) 060 AISB (0 648 0 655) (9) 0 68 (39) 0 67 (I) 0 65 (7) 0 64 AM (0 506 0 525) (32) 053 (13) 0 52(5)
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  • Page 11 Advertisements
    • 707 11 NOTICESIN THE MATTE* OP itas COMPANIES ACT, CAP IK OP THE REVISED EDITION IN THE MATTER OP a; I i 'f.i iCln PTE LTD (la Members' Vataatary WtorftagUp) At an Extra-ordinary General Meeting of the members of Gemrusa Trading Pte Ltd duly convened and held at 1 North Bridge Road.
      707 words

  • 234 12 Recurrent cost of ClementiYio Chu Kang line estimated at $108.7m Report of the Estimates Committee THE Mass Rapid Transit Corporation (MRTC) is expected to run up $106.7 million in recurrent costs for the line between Yio Chu Kang and Clementi when it becomes operational in 1968. Recurrent costs of $146.9
    234 words
  • 365 12  -  By FOO CHOY PENG Chief Reporter A FURTHER $4.33 billion could be pumped into the economy over the next few years if approval is given for the implementation of more than 200 development projects by the public sector. Said to merit consideration, the
    365 words
  • 162 12 INDICATIONS that the management of government hospitals and clinics could come under a statutory board were given by the Ministry of Health to a parliamentary committee. "The ministry considered it desirable for government hospitals and clinics to be managed by a statutory board,"
    162 words
  • 62 12 THE SINGAPORE International Chamber of Commerce said yesterday that although the Economic Committee recommendations were pragmatic, they could have been more detailed for certain sectors of the economy, such as property. It added, however, that the chamber fully endorsed the report and agreed that the private sector had
    62 words
  • 440 12 BUSINESSMEN remained pessimistic about economic prospects for the first half, with those in the building materials and petroleum refining industries making the worst forecasts. In its survey of business expectations for the first quarter of this year, the Department of Statistics said more
    440 words
  • 312 12 Agencies PRESIDENT Ferdinand Marcos yesterday hit out at "ungracious losers and modern-day imperialists" whom he said demeaned the dignity of the Philippines as protests mounted over fraud and violence in the Feb 7 election. He fired his blast as election rival Corazon Aquino, who said
    Agencies  -  312 words
  • 63 12 Bernama THE SEIZURE of documents from the house of former Bumiputra Malaysia Finance (BMF) chairman Lorrain Esme Osman in London is hampering the recording of evidence from witnesses in the High Court in Kuala Lumpur. As a result, sources said, Lorrain's solicitors
    Bernama  -  63 words
  • 51 12 THE NEW YORK stock market yesterday climbed from the opening, picking up where it left off on Thursday. The Dow Jones industrial average advanced nine points to 1682. Advances led declines sev-en-three on volume of 14.61 million shares. The Comex report for gold and silver was not
    51 words
  • 929 12 SHARE PRICES were marked up yesterday at the outset on the last day of the fortnightly account with sentiment helped by Wall Street's gain on Thursday and major exporting companies firmer in response to easier sterling, dealers said. At 0945 GMT the FTSE 100 index was 5.2 up
    929 words
  • 348 12 SINGAPORE has much to gain from the survival of the United Nations system, and for this reason, should not follow Western countries in condemning it. Ambassador Kishore Mahbubani, Singapore's permanent representative to the United Nations, expressed his concern yesterday about the
    348 words
  • 95 12 PARLIAMENT will sit for five days, starting from Feb 24, to debate the President's speech. It starts on Monday with a proposal by Dr Aline Wong (Changkat) that an address of thanks in reply to the speech by the President be agreed upon. The
    95 words
  • 252 12 Bernama JAPAN has defended a plan to give low-interest loans to smaller enterprises hard hit by the yen's sharp appreciation, arguing it does not constitute a subsidy for export promotion. Japanese government officials made the assertion yesterday following a recommendation by the US that Japan report
    Bernama  -  252 words
  • 292 12 PROPOSALS to stimulate the economy through fiscal measures put forward by the Economic Committee, and which prove feasible, will be implemented by the government as quickly as is practical. This was spelt out in a joint addendum by the Finance Ministry
    292 words
  • 264 12 THE RECESSION in the Singapore economy might not have been so severe if remedies had been applied earlier, said the Acting Itade and Industry Minister, Brig-Gen (Res) Lee Hsien Loong, last night. But it is also very unlikely that Singapore could have
    264 words
  • 79 12 THE BETTING Amendment Act passed by Parliament last month will come into operation on Feb 25 together with the Common Gaming Houses Amendment Act and the Road Vehicles (Special Powers) Amendment Act. The director of the Criminal Investi- gation Department, Assistant Commissioner Jagjit Singh,
    79 words
  • LATE FILE
    • 50 12 Reuter MALAYSIA'S state oil company, Petronas, has advised term customers of a US$4 cut in official prices of Malaysian crudes. The new prices, effective Feb 1, are $23.90 per barrel for Tapis, $23.90 for Tembungo, $23.60 for Labuan, $23.25 for Miri light and $22.55 for Bintulu.
      Reuter  -  50 words
    • 36 12 Reuter CHINA will build 50 deepwater berths at seven major ports between 1906 and 1990 using foreign investment of at least US$25O million, said the New China News Agency yesterday. Reuter
      Reuter  -  36 words
    • 33 12 AFP IRAQ yesterday acknowledged that its fighters had shot down an aircraft on Thursday carrying a representative of Iran's spiritual leader, Ayatollah Ruhollah Khomeini, and six Iranian deputies. AFP
      AFP  -  33 words
    • 50 12 Reuter CHINA said yesterday it would try a Soviet citizen who hijacked an AeroQot civilian airliner to China in December. A Foreign Ministry statement said Alimuradov Shamil Gadji Ogly, the co-pilot of the plane, had been found guilty of unlawfully seizing a civilian aircraft. Reuter
      Reuter  -  50 words
    • 32 12 AP PLO CHAIRMAN Yasser Arafat was quoted by a Saudi Arabian newspaper yesterday as reaffirming his adherence to the Palestin-ian-Jordanian accord for coordination in pursuing Middle-East peace. AP
      AP  -  32 words
    • 38 12 AP FORD, the only US car company successfully selling cars in Japan, introduced its latest entry into the competitive Japanese market yesterday a locally-made sporty compact designed for the younger market. AP
      AP  -  38 words
    • 40 12 AP THE CABINET of Japanese Prime Minister Yasuhiro Nakasone yesterday announced plans to expand and strengthen financial measures to relieve small businesses suffering from the rapid appreciation of the yen against the US dollar. AP
      AP  -  40 words
    • 39 12 AFP THE INDONESIAN government is to tax foreign oil companies on the basis of the market prices their oil commands instead of the higher government-set prices, oil industry sources said yesterday. AFP
      AFP  -  39 words
    • 63 12 AP HELPED MAINLY by falling oil prices, South Korea's economy will be able to grow 8 per cent in real terms this year, up one percentage point from the original growth target, the Economic Planning Board said yesterday. A current account surplus of up to US$l.2
      AP  -  63 words
  • Page 12 Advertisements
  • Page 12 Miscellaneous
    • 54 12 miUMi] Outlook for today: Showers over several oreos in Hie afternoon. Ref >ort for 24 hours prior to 7.30pm on Feb 21 ot the airport: Maximum temperature 32.8 Associated humidity 56 Minimum temperature 25.0 Associated humidity 90 Hours of sunshine 6.90 Rainfall in millimetres nil Roinfall this month 26.7 Roinjr
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