The Business Times, 12 July 1986

Total Pages: 12
1 12 The Business Times
  • 12 1 BUSINESS TIMES M.C. (P) No. 192/12/85 SATURDAY, JULY 12, IMC 75 CENTS
    12 words
  • 583 1  -  Consumers' Association cancels Christmas exhibition By GOH YEE LING CHRISTMAS MAGIC '86 has been cancelled. The controversial trade fair organised by the Consumers' Association of Singapore might be replaced by an "educational exhibition fair" in the middle of next year instead. There would be no
    583 words
  • 879 1  -  By MARGARET THOMAS THE AMERICAN textile lobby, in a renewed effort to get Congress to pass a law that would severely limit imports into the US, has picked on Singapore in an advertisement that appeared in several newspapers across
    879 words
  • 133 1 Bernama MALAYSIA HAS set up s onestop agency to deal with the approval of export and import of all livestock products. Deputy Agriculture Minister Dr Goh Cheng Teik said yesterday that in the past, health certificates were issued by the Veterinary Services Department and approved permits
    Bernama  -  133 words
  • 353 1 REPORTS that the Malaysian Parliament would be dissolved soon to pave the way for general elections, probably next month, helped to push share prices on the Singapore stock market higher across the board yesterday. Speculative Malaysian counters such as Sri Hartamas, Raleigh and
    353 words
  • 345 1 Reuter THE US discount rate cut threw Japanese markets into confusion yesterday and sparked a battle between the country's central bank and its trade and industry authorities. International Trade and Industry Minister Michio Watanabe called for Japan's 3.5 per cent discount rate to be cut
    Reuter  -  345 words
  • 123 1 AP JAPANESE Prime Minister Yasuhiro Nakasone urged his Cabinet yesterday to do what it could to ensure that consumers benefited from lower import prices because of the yen's appreciation against the US dollar. Mr Nakasone's instruction that his ministers apply "administrative guidance"
    AP  -  123 words
  • 363 1  -  By LUCY NG THE Y ANGTZEKIANG Garment Manufacturing (YGM) group in Hongkong has withdrawn its offer to take over Emporium Holding's Klasse operations in the British colony. The offer was withdrawn because of lease problems and Emporium's huge debt, said
    363 words
  • Page 1 Advertisements
    • 96 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC SYSTEM Challenges Met/ Opportunities Realised. At Bcmque Indosuez, we turn challenges into opportunities. We nave applied our expertise in Treasury, Foreign Exchange and Capital Markets and have designed new products, techniques and strategies to help you cope with increasingly complex and difficult currency and interest
      96 words
    • 237 1 SHARE WORMATIOW MONEY EXCHANGES RAW MATERIALS LETTER TV ft RADIO OUR VIEW NEW ZEALAND AND FRANCE hove patched up their differences over the sinking of the Greenpeoce ship, The Roinbow Warrior. The two ogents who carried out the attack are to spend three years on some remote Pocific atoll. But
      237 words
    • 12 1 Utter from Caat, Pag* 2 Why M mads the cut, Pagi 4
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    • 28 1 Nikon THE WORLD'S FINEST PHOTOGRAPHIC Full report, Pag* 10 Intl Pag* 8 Asian stocks, Pags a S£K I vji* Ml i >K L *>.- SS3L 1 \f*\ r lA
      28 words

  • HOME NEWS
    • 352 2  -  By MONICA GWEE THIS YEAR'S National Day celebrations promise to outshine previous Aug 9 parades because there will be less parading, more entertainment and more audience participation. The nation's 21st year of independence will be celebrated mostly under cover
      352 words
    • 178 2 AN INTERNATIONAL research review board, comprising five eminent scientists, have been set up by the Institute of Systems Science of the National University of Singapore. The board will help the ISS focus its research efforts on information technology which has been identified by the government
      178 words
    • 359 2  -  By TBANG SAU YIN Management Correspondent A SINGAPORE-BASED public relations concern founded and headed by a New Zealander, has acquired a London public relations company. Gibson Public Relations in Singapore, headed by Richard Gibson, acquired Balden Barron Smith (BBS) on July
      359 words
    • 353 2 THE RESPONSIBILITY for taking care of Singapore's needy and under-privileged should lie more with the private sector than with the government, said the Minister of State for Education, Dr Tay Eng Soon. Dr Tay was speaking yesterday at the Ngee Ann Polytechnic, which
      353 words
    • 282 2 PETES BROWN has been appointed the regional sales manager of Massey-Ferguson, based in Singapore. Mr Brown, who joined the company in 1979, has held various sales and marketing positions in the company. Before his recent appointment, Mr Brown was the area manager. In his new post, Mr
      282 words
    • 323 2  -  Letter to the Editor Lee Ngak Slang President, Case 1 Dear Bb, The fundamental objective of Case is to champion the rights of consumers through consumer information, education, advice and guidance in order to protect their interests. It was primarily with this
      323 words
    • 228 2 THE QUESTION of whether financial aid will be given to HUDC flat owners who have problems servicing their loans to buy private properties will be raised at the next Parliament sitting. It is one of four questions on HUDC submitted by Dr Wong
      228 words
    • 278 2  -  By CHUANG PECK MING LOCAL FULL-TIME staff of McDonald's will continue to be rewarded this year with a share of the profits of its US parent company, the McDonald's Corporation which is listed on the New York Stock Exchange.
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    • 740 2 AT CONVENTIONAL WHARVES Vttttl Berth Agent Arrival Dipirtwt KEPPEL WHARVES Frances Boy K27 Malay St alongridt 12.7/1500 Koto Mutiora K31 PL alongside 12.7/1800 San Luis K29 Bomoo alongHde 12.7/0600 Taw an Thai Equator 3 K28 K22 S*por« Shpg Thong Soon aionasKjf 12.*****0 12.7/1800 13.7/1300 rengcm Iwen K15
      740 words
  • Page 2 Advertisements

  • ASIA-PACIFIC
    • 258 3 AFP AUSTRALIA'S credit rating with Wall Street is still good and the government has measures in place to deal with the country's trade deficit problems, according to Treasurer Paul Keating. Mr Keating, who was attending the ruling Labour Party's biennial national conference in
      AFP  -  258 words
    • 197 3 Reuter THE AUSTRALIAN government may have to push the economy into recession in 1966/87 to improve the country's trade deficit problems. Westpac Banking Corp's managing director, Bob White, said on Thursday that if the demand for imports is sufficiently restrained over the next six
      Reuter  -  197 words
    • 271 3 AFP Reuter PRINCE Norodom Sihanouk, head of the Cambodian resistance coalition, has said that the death of Vietnamese leader Le Duan will not alter Vietnam's noiicipg in Cambodia. "I that it will not bring any change in the colonialist policy of the Socialist Republic
      AFP; Reuter  -  271 words
    • 833 3 ARRIVALS Operator Sorvico number Local time From SIA SQI17 0005 KUL UA UA805 0010 JFK/SFO/HKG CAL CI333 0315 TPE MK MK746 0755 MRU MAS MH681 0820 KUL KAL KE624 0840 KUL CV CV796 0845 LUX/DXB MAS MH8I1 0910 PEN MAS MH67I 0920 KUL AC AC858 0950 YYZ/LHR/BOM
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    • 640 3 Falling reserves may halt exports in the *****, says study AFP AP INDONESIA may be forced to stop exporting crude oil in the 1990s because of diminishing reserves, and production may peak in the next few years, according to the US Embassy annual oil report released
      AFP; AP  -  640 words
    • 133 3 AP THE NUMBER of industrial and commercial enterprises in China increased last year, especially in the area of collectively-owned enterprises and Joint ventures. The official Xinhua news agency said on Thursday that China had 4.2 million registered industrial and commercial enterprises employing 144 million people
      AP  -  133 words
    • 222 3 UPI JAPAN and Britain will Jointly provide about 43 billion yen worth of low-in-terest loans to help finance a hydroelectric power project in Sri Lanka. Foreign ministry officials in Tokyo said yesterday that Japan's share will be about 28 billion yen and
      UPI  -  222 words
    • 141 3 AFP THE Japanese economy is forecast to grow at a slow rate of 2.7 per cent in the fiscal year ending in March, 1987. The Wako Research Institute of Economics predicted on Thursday that the economy would grow at this rate even if
      AFP  -  141 words
    • 175 3 Bernama THE MALAYSIAN government may provide soft loans to tin mine operators to save the ailing tin mining industry. Deputy Prime Minister Ghafar Baba said yesterday that it was considering this move because several tin mine operators had to cease operations as a result
      Bernama  -  175 words
    • 392 3 AP CHINESE political scientists say Chins should study West Germany, Japan and the US in carrying out major reforms in the government's role in the economy. Tan Jian, an associate research fellow of the Academy of Social Sciences, said China's centralised management
      AP  -  392 words
    • 352 3 Reuter CHINESE Prime Minister a»o Ziyang and his Greek counterpart Andreas Papandreou have held talks which should bring increased economic cooperation between the two countries, the visiting premier said. Speaking on Thursday after talks totalling two-and-a-half hours at the start of his five-day visit to Greece,
      Reuter  -  352 words
    • 157 3 Reuter THE CHIEF JUDGE in the Benigno Aquino murder trial has admitted meeting ousted President Ferdinand Marcos before the trial. But Judge Manuel Pamaran denied yesterday that Mr Marcos pressured him into acquitting then Armed Forces Chief Fabian Ver and 25 others linked
      Reuter  -  157 words
    • 541 3 AFP FALLOUT from an abortive coup attempt staged at a leading Manila hotel could further hit the struggling Philippine tourist industry, hoteliers fear. However, it is unlikely to have any serious long-term effect on overall efforts to refloat the country's ailing economy, analysts in
      AFP  -  541 words
  • Page 3 Miscellaneous
    • 52 3 Doonesbury 2 *Sl? *m t o+ff* m m yfk m 4+ k\ f m mmm. mmm BY GARRY TRUDEAU SHAKeSKAteJSP&BimZ H&sM&mne, Asmmsr Pf&t&nSOFPNNCETCNANP,CF PR.MMUZUNK BAS&ALL TO THd COMMON PlAf&S* MAH. BUTKSB> I THEM SHORT. t! I m i+i i m <( A >/k i m V V f 111. !UC
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  • REST OF THE WORLD
    • 464 4 NYT CITING A slow economy and low inflation, the Federal Reserve Board cut its crucial discount interest rate on Thursday to 6 per cent from 6.5 per cent. The reduction, the third this year, brought the benchmark lending rate to its lowest
      NYT  -  464 words
    • 93 4 Reuter THE US and Turkey have reached a tentative agreement to permit increased shipments of Turkish textiles and apparel to the American market, US officials have said. No details of the two-year agreement were announced, pending final approval, but officials said the pact
      Reuter  -  93 words
    • 190 4 NYT THE SPOKESMAN for 13,500 American manufacturers says that it is taking longer than expected far the declining dollar to narrow the trade deficit, but improvements should begin to be visible by the end of this year. Alexander Trowbridge, the president
      NYT  -  190 words
    • 341 4 AP THE WORLD BANK has unveiled a new policy aimed at protecting wildlands in the Third World countries, a month after the US tried to block a loan which it said failed to protect thousands of Brazilian Indians and tropical forest. The
      AP  -  341 words
    • 326 4 NORWAY announced on Thursday it was easing taxes on foreign companies exploring for oil and gas in its offshore waters, in an attempt to persuade them to remain active in the face of plunging income caused by sliding oil prices. Oil and
      326 words
    • 357 4 Reuter THE SOUTH AFRICAN economy will slide towards a state of siege if the government loses its nerve in making political reforms, according to the chairman of the giant Anglo American Corporation, Gavin Relly. He criticised South Africa's month-old state of
      Reuter  -  357 words
    • 117 4 AFP THE EUROPEAN Parliament urged on Thursday the imposition of immediate European Community sanctions on South Africa. The parliament, which passed the resolution by 22&-114 votes with two abstentions, requested in particular "the interdiction to import agricultural products, coal, uranium, gold and diamonds" from South Africa.
      AFP  -  117 words
    • 137 4 UPI EIGHT CITIES named Albany got together on Thursday by telephone to talk about their cities and congratulate New York's capital on its 300 th birthday. The intercontinental conference "Hello Albany" linked mayors tram Albany* in New York, Australia, Georgia, Minnesota, New Hampshire, New Zealand,
      UPI  -  137 words
    • 239 4 AP THE regional council for the Paris region has voted to approve plans (or a USJI-5-billion Disneyland amusement park east of the capital. The council for the lie de France region voted 112-20 on Thursday to authorise council president Michel Giraud to sign
      AP  -  239 words
  • RAW MATERIALS
    • 768 4 Reuter COFFEE ROBUSTA COFFEE futures on Thursday ended a volatile day with pared gains from Wednesday night of £20 to £13 a tonne as New York eased bade from initial relatively sharp gains on lade of followthrough buying despite some steadying in sentiment. At the dose, second position
      Reuter  -  768 words
    • 242 4 Reuter WHEAT FUTURES on Thursday rallied sharply at the close, and ended 6-1/4 US cents a bushel to 3/4 cent higher on the Chicago Board of Trade. Wheat reversed course late as traders began evening up positions ahead of yesterday's USD A production estimate, which is expected to show
      Reuter  -  242 words
    • 220 4 Reuter SOYBEAN FUTURES on Thursday recovered from new life-of-contract lows in deferred contracts and closed mixed on the Chicago Board of Trade, ranging four US cents a bushel higher in nearbys to three cents lower in deferreds. Shortcovering ahead of yesterday's USDA planted acreage report boosted values near the
      Reuter  -  220 words
    • 241 4 BMQAPORE THE MARKET yesterday closed slightly lower with August One RSS buyers quoted st 173.50 cents per kOo, down 0.25 cent from Thursday. Trading in TSR 20 was quiet throughout the day and prices were slightly weaker due to some selling of nearby and forward positions. September and October
      241 words
    • 152 4 Chinut Product Robusta 20/25% FOB NSW 430 00 Exchange Nutmeg Stltrs' noon cloiinn p My 11 (S*/100 kg). rkes on 110 FOB NSW BWP FOB NSW 1355.00 1256 00 Coconut oil Gombier Bute FOB 48 00 61 00 65 00 FOB NSW 330 00 Otd drum FOB New
      152 words
    • 208 4 MALAYSIAN crude palm oil prices were lower at the close yesterday on preweekend selling and buyer reserve in sympathy with weaker overnight Chicago soyoil futures. India's purchase of a small quantity of neutralised palm oil, while rejecting other processed palm oil offers at its weekly tender on Thursday,
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    • 77 4 Reuter THE KUALA LUMPUR Tta Market, KLTM, prlee ywtoriay rwe tin eeato to cad at MH4JM farther eeveriag deAa Behaicrf «pea lag «I M$14J4 attracted ■ahetaat&al Earapeaa, Japaaeee aad toeal haytag hrtereet» bat the Eathepriee ran gradaaUy. Taraever we to IP day aa dealers aeted that the earreat
      Reuter  -  77 words
    • 66 4 Bangkok (us$/t«M. rot) Whit* lie* 100% 1st doss 255 100% 2nd ctoss 220 100% 3rd doss 215 5% 205 10% 200 15% 195 20% 185 25% 175 35% 170 Broken Rice A-1 Super 118 A-l Special 115 C-l Sp«ctol unq C-1 Ord unq Loonzain Rice 100% 1st grode unq
      66 words
    • 332 4 RAS prices m S cwrts/kg, FOS k« NOON fas CLOSE Int 1 RSS Prompt Int 1 RSS Aug 86 Int 1 RSS Sept 86 Int 2 RSS O P Int 3 RSS O P. Int 4 RSS O P Int 5 RSS O P wrtri 174.75 172
      332 words
    • 98 4 (cettti/kg, 1-ton p olM AUG 86 scrr 86 (CMfTOn it month) (forwor 1 month) NOON NOON RAS (•ytn 8wyri Sdan SSR 20 159.00 161 00N 159 50 161 50N SSR 50 156 00 158.00N 156.50 158.50N MRELB Bwycn luy«u Seller? SMR CV 231.00 233 00N 232 00
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  • BANKING AND FINANCE
    • 315 5 FT AMERICAN state and local governments are turning their attention to the international capital markets as a source o( funds because of provisions In the new US tax bill that will restrict their access to tax-ex-empt domestic funding. Mr Bill Cole, the president
      FT  -  315 words
    • 112 5 Reuter SOUTH KOREA allowed Kanira to widen the spread between buying and selling rates for foreign exchange to 0.9 per cent from 0.5 per cent from Thursday. Finance ministry officials said the increase is aimed partly at improving bank profits. They also said foreign banks operating
      Reuter  -  112 words
    • 516 5  -  More account holders opt for short-term loans By SOH TIANG KENG Financial Correspondent BANK OVERDRAFTS have become less popular in the past two years, with account holders preferring short-term loans instead. Latest Government statistics show that overdraft loans have fallen both in total volume and its
      516 words
    • 403 5 MBT FOUR REFINANCING exercises undertaken in 1984-1985 to repay syndicated loans totalling US$2.6 billion have resulted in savings of Ms2l7 million. Malaysian Finance Minister Daim Zwlnnddin has said that besides the savings, the refinancing exercise has lengthened the maturity structure of the country's
      MBT  -  403 words
    • 143 5 THERE ARE 136 commercial h»nir« running branches in Singapore. And all, except 13, are foreign banks. In addition, there are 47 more banks (all foreign), with representative offices. This makes a total of 183 commercial banks operating here, either through branches or representative offices.
      143 words
    • 100 5 Reuter PRIVATE YEN bond placements in Japan by non-residents were a record 141.5 billion yen in the first half of this year, some 2.3 times above the same period last year. Dealers said this was due to a Finance Ministry ruling that allows life Insurance
      Reuter  -  100 words
    • 360 5 Reuter THE GOVERNMENT of Uruguay had signed agreements with about 100 creditor banks worldwide covering a US$l.7 billion multi-year rescheduling agreement, Citibank, the chairman of the country's bank advisory committee, said on Thursday. Mr William Rhodes, the Citibank executive who chairs the panel,
      Reuter  -  360 words
    • 233 5 Reuter CUBA has stopped making payments on most of its US$3.5 billion foreign debt, an action delayed by the government for two months after it was announced. Diplomatic sources in Havana said yesterday that Cuba informed its Western creditors in April
      Reuter  -  233 words
    • 116 5 Reuter TAIWAN'S foreign currency reserves have hit a record of more than US$3l.l billion. Central bank governor Chang Chi-Cheng said on Thursday the increase came mainly from Taiwan's growing trade surplus, which reached US$6.B3 billion in the first six months of 1986 compared with US$4B5
      Reuter  -  116 words
  • MONEY AND EXCHANGES
    • Article, Illustration
      553 5 Reuter SINGAPORE THE US dollar yesterday reversed its earlier weaker trend to close firmer, as the effect of the half-point cut in the US discount rate by the Federal Reserve have been largely discounted by the market It closed higher at 160.80/90 yen compared with an early 159.60/70
      Reuter  -  553 words
    • 200 5 Interbank rotes at 3pm yesterday: Carvmeist Nominal rtlit SnHhtoniin Md Oder e reee parity change Local ieHers^fe currency: US dolor ***** 2.1895 2.8196 -22 38 Staffing pound 3.3122 3.3159 7.3469 -54.92 Australian dolor 1.3929 1.3958 ***** -59 37 NZ dolor 1.1631 1.1670 ***** -66 08 Canadian dolor 1.5881
      200 words
    • 406 5 BA Futures FOLLOWING the cut in the US discount rate, EanMlar futures yesterday opened higher than CME's close and continued to trade higher during the day. The September contract touched the high of 93.10 after opening at the day's low of 9A54 on strong buying interests In hectic trading.
      BA Futures  -  406 words
    • 241 5 HONGKONG: GOLD yesterday closed steady in moderately active trading on continued local baying interest following the Federal Reserve's discount rate cut. It ended at U*****.00/» an ounce compared with the U*****.25/75 close in New York and the U*****.15/« finish here on Thursday. On the local market, gold eased HK$l
      241 words
    • 114 5 THE OVERNIGHT rate on the Singapore interbank money market closed at 4-3/4 per cent yesterday, up 5/8 point from Thursday. The term rates remained unchanged across the board. Discount Prices At yesterday's close Prices offered by discount houses on July 11 3-moMtf Treasury 8* 2 1/2—2 3/8 Overreght
      114 words
    • 294 5 Asian market ASIAN DOLLAR deposit rates yesterday closed steady at easier opening levels in quiet afternoon trading. Dealers said rates weakened by 1/16 to 1/8 point at the outset following news the US Federal Reserve cut its discount rate. Thereafter rates remained unchanged. Weekend closed at 6-3/4 6-5/8 per cent,
      294 words
    • 49 5 RESULTS OF TENDER held on July 11 (or 91-day bills to be ianed from July 14 to July 18: Offered: $110,000,000 AppOed tar: $156,000,000 Allotted: $110,000,000 Accepted bids: $99.33 approximately 44 per cent, higher bids in full. Average rate d dtaewt allotment: 2.635 per cent per annum.
      49 words

  • TIME-OFF
    • 516 6 NEW ZEALAND versus France matches which should really be confined to pleasant enough but tough games of Rugby Union football turned, sadly, into the long drawn out and indeed acrimonious saga over the sinking of the Greenpeace ship, the Rainbow Warrior. The French,
      516 words
    • 558 6  -  In Murphy's Romance, James Garner as a widowed pharmacist, sailed through the entire 90 minutes doing what comes naturally to him, leaving his co-stars Sally Field and company panting behind, says JAIME LYE. JAIME LYE THERE ARE TIMES when an actor is nominated for an Academy
      558 words
    • 340 6 IMAGINE scooping up specimens from a still-glowing lava field as easily as you do the remnants of glowing charcoal after a barbecue. Several scientists did just that, walking over the lava field at Hawaii's Kilauea Volcano, collecting 2,000 degree lava in their quest to
      340 words
    • 777 6 What's on from July 12-18 mpwvw PLAY: EmSy of Emerald HHI. Drama 1 Contra. 2JO and 3pm. Margaret Chan performs this prize-winning play by Stela Kon. OPERA: Bailing Opara Children's Troupe. Canning Room, 4th floor, 1 Westin Stamford and Westin Plaza. 9pm. The troupe wil perform excerpts from famous
      777 words
    • 79 6 THE KAN SIN FAH Cantoneee Opere Troup*, led by Madam Chong Li-Li, ia a 20-mambar cultural troupa from Hongkong. Tha troupa, which haa mada appearances in tha US, Auatralia, Canada and Malaysia will put up four epocial performances of Chinosa pageantry and
      79 words
    • 265 6 ELLIS MARSALIS, the head of one of America's most well-known Jazz quartets and a jazz pianist, has put as his occupation on his name card, "Pianist Music Consultant". An understatement, you will agree. SCENE OUTSIDE The Bum Steer in Tucson, Arizona. Long line of people wanting
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  • Page 6 Miscellaneous
    • 802 6 CRYPTIC PUZZLE ACROSS 8 In short, it's on insect found on cheese (7) 9 Don't have to make an exit (2, 7) 13 Show the toil-getting caught in the swing-door (5) 14 A minor gront (5) 15 What made the animal come to gnef m the field? (7) 16 Mean
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  • SPORTS
    • 259 7 Reuter NIGEL MANSELL is guaranteed a hero's welcome on arrival at Brands Hatch for tomorrow's British Grand Prix. Mansell made his Formula One breakthrough there last October and returns now as an outstanding candidate (or this season's World Drivers' Championship. The Briton had
      Reuter  -  259 words
    • 829 7 UPI TO THOSE with a passion for golf, and for all the casual observers who have been touched by the long rivalry between Jack Nicklaus and Tom Watson, a special anniversary will be observed next week. So memorable a
      UPI  -  829 words
    • 632 7  -  By BRIAN MILLER MALCOLM THWAITES is no stranger to local racing. A onetime successful amateur rider, he was also a more-than-com-petent MRA handicapper in the early 70s. But perhaps best known as the owner of unbeaten sprinter Star Prince, Thwaites will enter the
      632 words
    • 491 7 UPI JOCKEY ANGEL CORDERO, lacing a long shot to ever ride again alter a March fall, will return to racing tomorrow aboard a promising two-year-old colt. Cordero, 43, will be aboard Gulch (or tomorrow's Tremont stakes at Belmont Park, taking his first competitive
      UPI  -  491 words
    • 86 7 Reuter JOCKEY Billy Newnes, who returned to the saddle eleven days ago after serving a two-and-a-half-year riding ban, had two winners at the northern track of Catterick, England, on Thursday his first successes since his comeback. "The first is always the hardest," said Newnes, who
      Reuter  -  86 words
    • 192 7 AP PEBBLES, Britain's 1905 Racehorse of the Tear, was officially retired to stud on Thursday. Owner Sheikh Mohammed visited the mare at trainer dive Brittain's stable and said afterwards: "I made the decision to retire Pebbles. Like everybody else, we enjoyed her racing
      AP  -  192 words
    • 384 7  -  By WALTON MORAIS BURMA'S Kyi Hla Han, continuing a phenomenal record on the Malaysian circuit, clinched the M|Bo,ooo PFP Classic golf championship at the Royal Selangor Golf Club yesterday. The Malaysian news agency Bernama reported that the Burmese, defending the title
      384 words
    • 233 7 AP ADRIAN STILLS, a rookie who missed the cut in eight of his 12 previous starts, shot a 6-under-par 65 on Thursday to share the first-round lead with fellow American Jodie Mudd in the US$5OO,OOO Anheuser-Busch Golf Classic. Stills, at 28 the youngest of
      AP  -  233 words
  • Page 7 Miscellaneous
    • 1317 7 warns mm j iSOpm, Channel 12 Shakespeare's celebrated tragedy is performed tonight. As he has many times over on stage, the King of Denmark is murdered by his brother Claudius, who then marries the King's wife and disposesses the rightful heir, Hamlet. The ghost of his father appears before Hamlet,
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    • 2 7 Bri Stc^r:
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  • INTENARIONAL STOCKS
    • 300 8 Reuter MO-FRILLS American airline People Express is to jiell its Frontier Airlines subsidiary for US$l46 million in a bid to survive in the competitive US market. The proposed sale to United Airlines, announced by the company on Thursday, gives it several months to return
      Reuter  -  300 words
    • 214 8 FT BRITISH PETROLEUM is to buy Purina MO]*, the an- imal feed division of Ralston Purina of the US, for an estimated US$5OO million. The deal will make BP *bout the biggest animal feed producer in the world, "With sales of around
      FT  -  214 words
    • 322 8 Reuter THE STOCK market snapped back on Thursday after successfully defending the 1,800 level of the Dow Industrials in a rollercoaster session. Bellwether IBM led the activity, falling first three points and then bouncing back to close 1-1/4 higher at 145-1/2. The Dow Jones
      Reuter  -  322 words
    • 146 8 JULY 10 c$ hup Ol O A 36* 16* widi Abitfei 23 40* kit Pro* Wp* ki km 43* 20* Algomo Bank Novo Scotia Bank Of Montreal fftf Canada 14* 15* 31* 38* unch Karr Adda on LoMow B MoM»y F«ry Mc BkxM 15* 12* Z~ 35* 1* Bp
      146 words
    • 223 8 Truct 8k 130 5 JULY M MM Un StMi 55 inch WooMru 1175 uich Prwn G>p 2175 unch Ml MNGS MOUSTVUU 4775 25 ***** Angvod ***** 200 Abwcom Aid 250 1 ISO inch unch Bfooc Butt* 1750 7750 -25 -50 Amaprap f\tMC C G SmMh 420 4350 1830 2800
      223 words
    • 560 8 JULY 10 US* Akon Ahmn 29* Alcoa 37 Alog M 20* unch AM Stg 42 AM Slam 47* AfcChahMn 4H t0tch Am Brandt kK 103* Am Can Co 74* Am Cyanarrad 74* Am Boc Pw 27* Am Eaprat 60* 1* Am Homo Prod BB* •1 Am Moot Cp
      560 words
    • 534 8 Amsterdam JULY M AM 9b ttUO +7 5 fi ■■mi 107 50 +0 5 Ahold 93 JO 1 Afcso 166.60 +0.4 152.70 inch AM€V Am Stnd 8070 +13 109 80 +0.4 127 SO +4 Bonumf Buahrmon T attar Cj* M 912.00 -05 9dm... 216 50 +15 677 00
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    • 155 8 Reuter TAKEOVER target PVwy Co PLC aid In a statement it was determined to fight hard and long to preserve its indfppndpnc^ Plessey is awaiting a verdict, expected in the next month, (ram the UK HimiTffWff Commission on whether a hostile £1.18 billion
      Reuter  -  155 words
    • 123 8 UPI BY 1988 US carmakers will have virtually handed over the business of building small cars to foreign companies with the loss of about 70,000 US Jobs, one industry analyst predicts. Thomas Ogrady, the president of Integrated Automotive Resources, of Wayne, Pennsylvania, said: "The US automakers are
      UPI  -  123 words
  • Page 8 Advertisements
    • 510 8 <3-f! M Bi WSiere ia wiae, iiae mi& «aMa <* w rf Baton's Table Sunday Brunch youHloveit? Give mum a break this Sunday and bring the family in for our taste-tempting Brunch. You can relish our enormous spread of wholesome fare at only 825.50 per adult and $15.00 per child
      510 words
    • 127 8 LSI J I PR/WGE HOTEL Mwapd by Prince Hotels japan Continuing the Prince Hotels tradition of friendly service 270 Orchard Road, Snip pore 0923. Telex: RS ***** HCROWN Cable CROWNHOTEL Fax *****18 Td: *****11 6am 2am Daty SUMMIT BUFFET AT THE DAMCHI HOTEL (SINGAPORE) Tuck into a sumptuous spread of
      127 words

  • ASIAN STOCKS
    • 338 9 HONGKONG: Share prices closed steady in fairly quiet trading on light buying interest yesterday. Sentiment continued to be mixed with a slightly bearish bias in the absence of fresh factors. The cut in the US discount rate heightened expectations of rate cuts here and helped offset the bearish sentiment.
      338 words
    • 225 9 JULY 11 KT 2.03 002 Kuochan Dev Laa Chang Yuan 23.20 33.30 +0.2 -03 27 00 06 13 30 +02 31 80 39 40 +0.4 Chang Hwo Bank 44.40 28 40 0 6 +02 Nut Investment .573.00 183.7 Ova hin Cement Owi Hot Hour 25.90 10.65 25 80 +0.4
      225 words
    • 381 9 TOKYO: Stock prices closed higher yesterday on growing expectations of a cut in Japan's discount rate after the Federal Reserve cut the US rate half a point to 6 per cent. The market average rose 200.96 to 17,670.77 after falling 36.29 to 17,469.82 on Thursday. Turnover was a heavy
      381 words
    • 67 9 JULY It Nm MarttMl Onantal B PM Ovomoi .0015 0.015 inch ♦0001 Acoj.M«n. Phlex B Pic op B 1 u Apax Mining B 0.011 12.50 unch -0.5 San Migual B 62 ***** Boguio Gold Basic r«ln4nii Banguaf Con. B F«v PM HMgi ***** 80 490 ***** 4-0.0004 3 0.1
      67 words
    • 435 9 SYDNEY: Share markets closed firmer in patchy trading yesterday, with demand for quality industrials offsetting bearish investor sentiment over the marginal improvement in the June balance of payments figures. Near the close, the All Ordinaries Index was 5.8 points higher at 1,139.9 and the All Industrials was 12.5 points
      435 words
    • 96 9 JULY II Wan Kongwon bid Kio Molar 1140 •10 2PK> Koton M 2060 -39 Doafen M Doowoo Corp Dotwoo Htovy Dong Ah Phar Dong St4t Stock Dooabu SiMl Gold Star 646 1319 1466 90S 1590 1540 2095 •14 420 -3 unch -30 -60 •74 Karoo Long Tarm Lucky Lid
      96 words
    • 154 9 Reuter BANGKOK: The Securities Exchange of Thailand Index gained 1.68 to 139.36. Turnover amounted to 476,218 shares valued at 70.1 million baht. Reuter JULY II 1 MM Sam Camant 559 14 Ao (Cham Tha Sam CMMra Asia Ffcr* Ayudhyo InvoMmant... Bangkok AgroM Bandiak Bank Bat* Of AMjtftya Charoong Thai
      Reuter  -  154 words
    • 56 9 Reuter ELDERS IXL LTD said its Elders Finance Group unit had bought the financial futures and options operations of Rudolf Wolff and Co Ltd. The London financial services division will become Elders Securities Ltd. Activities including bullion trading, futures and options will be integrated with the
      Reuter  -  56 words
    • 530 9 Fears that compact disc sales will be hurt FT A NUMBER of Japan's largest consumer electronics companies are delaying the launch of the digital audio tape (DAT), a revolutionary audio production, because of opposition from Philips, the Dutch electronics groups, and
      FT  -  530 words
    • 108 9 Reuter US CAR MAKER Ford has agreed to invest US$3O million in Kia Motors in return for 10 per cent of the South Korean company. "The Pacific rim nations are becoming a pivotal production area for the global car industry and Kia Motors
      Reuter  -  108 words
    • 186 9 FT CHINA has imported more than 100 colour television assembly lines that will produce many more sets than the masses could possibly watch, according to a wideranging study of the country's technology import strategy that recommends major changes to current "disorderly"
      FT  -  186 words
  • Page 9 Advertisements
    • 120 9 v; ii Win&et to wiae, dine ani saieriiß 8* Variety. With Quality. Our famous Nonya Buffet Lunch and sumptuous Buffet Dinner are great value for your money. Only 14+ per adult and $B++ per child for a delightful meal. Or select your favourite dishes from our a la carte menu.
      120 words
    • 105 9 gMpe 4 4 Hooray for Sunday! Sunday Brunch at the Hubertus Grill. Make it an occasion for the whole family. Sausages, bacon, oysters, smoked salmon, tasty entrees.. right through to pastries, puddings, fruit salad and cheeseboard. Sunday Brunch: 11 am 2.30 pm. $24 for adults. $12 for children Prices are
      105 words
    • 151 9 'F Local Food Galore m July 31 Lunch. Dinner Adult: $11.50" Child: $9.00+ SPECIAL FEATURE Friday High Tea Fashion Show $B++ Showtime 4.30pm <HB> ExcefSor Hafef 5 Colenum Street. Singapore 0617. Tel: *****33 J ?r tor only $15 a month For as low. as $15 a month you are entitled
      151 words
    • 140 9 THE MOST WONDROUS BUFFET LUNCH IN TOWN Enjoy a gourmet buffet luncheon at an ungourmet price! For starters, take your pick of our cold dbhes prawns on loe. fresh oysters, imoked salmon, melon and dried ham. vegslable twitne. mixed seafood salad, cooked assorted vegetables and homemade dressings. Select your main
      140 words
    • 156 9 2 TOP BANDS nightly BoybdlS r u H >» 3 nw popu»* s 1 HOT DISCO COUNTRY SENTIMENTAL POP ROCK* and you name it!! Singapore's very own dynamic trio i Led by Larry Fenton- known to music lover* at "The Blue Diamond". A really fine trio to look out for!
      156 words

  • SHARE INFORMATION
    • 4012 10 LOCAL and foreign investors were back in the market yesterday. Their bargain-hunting activities lifted share prices across the board. The BT Composite Index rose 7.57 points to 622.06 and the Straits Times Industrial Index added 10.03 points to 732.01. Total turnover was a moderate
      4,012 words
    • 208 10 SINGAPORE RilM Indtett CI Uk |«00 ioo rrc.,.,1. &06 s :s sasr r M 20 5 rrcA« -4790 -mm Hoar Par 282 +15 tTOOV I02S2S -***** HUmCMH 352 +12 ***** ***** sSiir- ill aTiiir 2^ji 1 '2 in STMaWh 574 74 574.47 «.A ?2 tin STf r,l
      208 words
    • 2851 10 BID and Oder price» officially listed and business ta and reported to the Stock Exchange q( Singapore yesterday with the number of darei traded rinn In brackets In lots at MM units unless otheiwiae specified. AD Time Settlement Contracts are Ced altar the word "SETT".
      2,851 words
    • 82 10 JACKS INTERNATIONAL Limited: AGM at 29 Joo Koon Road, Singapore 2262, on Monday, July 14, at 11am. UNITED INDUSTRIAL Corporation Limited: EGM at Shangri-La Hotel, Orchid Room, Orange Grove Road, Singapore 1025, on July 15, at Item. DEVELOPMENT AND COMMERCIAL BANE Bwhol: 21st AGM at the Ballroom, Hotel
      82 words
  • Page 10 Advertisements

  • COMPANY NEWS
    • 283 11  -  pita? *L RAMESH CHANDIRAMANI IN EARLY MARCH, when the shares of DBS Bank were trading around the $4.90 level, readers were told that the counter risked further price losses as it lacked intelligent sponsorship. But I hastened to add that the price losses would be limited and fairly
      283 words
    • 148 11 0 3LZ3 ffiSdHH Kt E^C^b Footnote: ex-dividciid t denotes cum dividend Frit B'putra 4 44 4 49 Second B'putra 4 16 4 21 Third B'putra Fourth B'putra 3 20 3 25 360 3.65 Fifth B'putra 2 29 2 34 Sixth B'putra 2 45 2 50 Seventh B'putra (A)
      148 words
    • 959 11 SHARE PRICES in London opened mixed yesterday in quiet end-of-ac-count trading after the late surge on Wall Street overnight. At 9.27 am, the FTSE 100 Share Index was up one point at 1,627.7 after opening the same amount lower at 1,625.7. The index closed on Thursday at 1,626.7,
      959 words
    • 586 11  -  By AMY CHEOK TAN SRI KHOO Teck Puat, Singapore's now internationally known financier, has once again upped his stake in Standard Chartered, the bank which is the subject of a takeover offer from Lloyds Bank PLC. So too has Sir YK Pao, the Hongkong shipping
      586 words
    • 177 11 KEMAYAN BHD is proposing a M 514.6 million (gross) special bumiputra issue. The issue, involving 20.9 million new shares of par value 50 cents each pitched at 70 cents, will be made to bumiputras and institutions approved by the Ministry of Trade and Industry.
      177 words
    • 342 11 MBT THE WEEK-LONG dispute between two stockbroking firms over a block of 10 million Rosy Electric Industries shares worth M 527.8 million is now over. This follows the acceptance of the sales contract by Hwang and Yusoff of Penang with the other broking Arm,
      MBT  -  342 words
    • 50 11 FIRST ALLIED Corporation Bhd is proposing to acquire the entire issued paid-up share capital of Norasia Investments Ltd, a dormant company incorporated in Hongkong on May 19,1981. The acquisition comprises two ordinary shares of HK$l each for HK$2. Norasia's intended principal activity is trading.
      50 words
    • 58 11 All Industrials Friday 1816.7 Thursday 1804.1 Week ogo 1820.5 NEW YORK Dow Jon *S Thursday 1831.83 Wednesday 1826.07 Weak ago 1900.87 Stondord Poors Thursday 243.01 Wednesday 242.82 Weak ago ***** LONDON FT Imk IX Thursday 1340 6 Wednesday 1331.5 Weak ogo 1365 7 FTSE 1001 Indox Thursday 1626.7
      58 words
    • 373 11 RENEWED BUYING pushed share prices higher across the board on the Kuala Lumpur stock market yesterday with speculative counters leading the list of major gainers. Several special situation stocks recorded dou-ble-digit gains while most other counters finished a few cents higher. Daily volume
      373 words
    • 2102 11 BID snd otter prion listed and burin» to and reported to the Kuala Lumpur Stock Exchange yesterday, wtth the number d *ares traded dwrn In brackets In lots of 1.888 units unless otherwise spsdflsd. MDUSIVMLS A|«MMnoto (2108) Alcorn (718 725) (9) 71 (7)77 (17) 71
      2,102 words
  • Page 11 Advertisements
    • 329 11 NOTICES TIE COMPANIES ACT, CAP. 1M AND I Kb i €'> COMPANY Pi.' iV r At an Extraordinary General Meeting of Members of Kah Kim Company Private Limited duly convened and held at Tan Boon Llat Building, 315 Outram Road, #15-08, Singapore 0316 on 9th July, 1986 at 11.00 a.m.
      329 words
    • 275 11 Ill*NOTICE IS HEREBY GIVEN that, I Sam Liang Yam of Apt. Blk. 235, Serangoon Ave-: nue 3, #02-02, Singapore 1963, have applied for a First Class Beer House licence in re- A spect of premises at M/s Wong Kok House, 908-H, Upper Thomson Road Singapore 2678 and that this application
      275 words

  • 457 12  -  Resultant company will be among the ten biggest in sector By ALVIN TAY A MERGER of the OverseaChinese Banking Corporation group's three wholly-owned finance companies is on the cards. The proposed merger of OCBC Finance, Fourseas Finance and Singapore-Malaysia Finance the first
    457 words
  • 535 12 Stock ras 'I'll "ll 31 39 HtoySCS) s ts i July 4(8) E3u1 E 0.86 Vi 1.26 1.21 -0.05 39.9 Alex Holdings 1.25 1.25 1.30 +0.05 4.0 BAT 1.45 1.93 1.89 -0.04 30.3 Cjrdt Corrioge 0.99 1.66 1.56 -0.10 57.6 CKTong 1.00 1.90 1.88 -0.02 +88.0
    535 words
  • 211 12 TRUSTEE STOCKS such as City Developments, Haw Par, Jack Chia-MPH, UIC and Intraco stole the limelight this week. While the rest of the market had bouts of profittaking and short-covering, these counters managed to chalk up some gains. City Dev resumed trading on Thursday, following
    211 words
  • 149 12 STOCKBROKER Lin Tah Hwa, who has been charged with 22 counts of cheating 14 banks, was granted a six-week adjournment yesterday to enable him to prepare his affidavit to support an application to have his trial transferred to the High Court. New counsel for
    149 words
  • 156 12 A FORMER REMISIER has been arrested by the ClD's Commercial Crime Division after a stockbroking firm reported that it was cheated of 1300,000. The suspect was arrested at his house in Siglap on July 9 and released on bail yesterday, pending further investigations. Confirming the
    156 words
  • 86 12 FIRST Deputy Prime Minister Gob Chok Tong has said that Indonesia would expect Singapore to play a part in keeping a common threat out of the region should such a threat arise. Mr Goh visited Indonesia recently. Mr Goh, who is also the Defence Minister, told reporters that
    86 words
  • 190 12 Reuter THE REAGAN Administration is considering diverting about US$l2O million in food aid to Central America as part of its aid package for Nicaraguan guerillas. Director Thomas Reece of the Food for Peace programme said commodities destined tor Indonesia, India, Peru and
    Reuter  -  190 words
  • 276 12 Reuter THE PHILIPPINES' gras domestic product will rise by 4.1 per cent in the second half of the year against a loss of 3.7 per cent in the first half, according to the independent Centre for Research ft Communications (CRC). Omar Cruz,
    Reuter  -  276 words
  • 266 12 Reuter A LEADING Indonesian businessman yesterday urged Asean to set up a European-style common market in the face of stagnant world demand for exports of member countries. Chamber of Commerce and Industry chairman Suh»m<t»«il Gitosard jono told an Asean business meeting in Jakarta that
    Reuter  -  266 words
  • 248 12 AFP A POLICY-MAKING national conference of Australia's ruling Labour Party wound up in Hobart yesterday with the government's economic policies left Israel? intact. Prime Minister Bob Hawke'r government had expected the party's left wing to mount a campaign for a more interventionist monetary policy and
    AFP  -  248 words
  • 440 12  -  LIM SOON NEO AIR TALKS BETWEEN Singaporean and Canadian civil aviation officials broke down yesterday and the Singapore authorities are reviewing the situation to decide whether to end the bilateral Air Services Agreement (ASA). The talks started on Tuesday for both sides to renegotiate the
    440 words
  • 145 12 SINGAPORE AIRLINES, which has used up all the 14 weekly frequencies to Japan under the Air Services Agreement (ASA), will be meeting Japan Air Lines at the end of this month for talks on more flights to Japan. "We're having airline-to-airline
    145 words
  • 84 12 Reuter COMEX GOLD FUTURES opened firmer In light trading early yesterday, underpinned by lower US interest rates after the Federal Reserve Board's halfpoint cut in the discount rate. But tame inflation, underscored by the morning's report that producer prices were un- changed in June, limited gold's gains, said
    Reuter  -  84 words
  • 66 12 AP THE US has agreed to replace 10 per cent of its personnel at an air base outside Madrid with Spanish citizens. The newspaper £3 Pais yesterday cited an unspecified member of the American delegation to troop-reduction talks as saying the US agreed
    AP  -  66 words
  • LATE FILE
    • 62 12 Bernama MALAYSIAN Prime Minister Datuk Seri Dr MahathirMohamad yesterday called on the people to enure that the National Front remained in power since only a country with continuity in government would enjoy pence, laoaperity and development He said development in Singapore, Japan and South Korea had
      Bernama  -  62 words
    • 60 12 AP WHOLESALE prices in the US dropped in the first six months of this year at an animal rate of per cent, the largest half-year decline since the government first kept such records in 1947. This compares with an overall L 8 per cent increase
      AP  -  60 words
    • 66 12 AP THE ANNUAL rate of tafiatkm in Britain feß in June to 15 per cent (ram 2J per cent in liay and was at its lowest level for nearly 2D years. The last ttm* was loner IAM wis m Novemoer wi, vn the rate
      AP  -  66 words
    • 38 12 Reuter INDONESIA must act swiftly to implement copyright and patent protection for US companies operating there, Douglas MrMinn, US Assistant Secretary of State far swimntr end Business Affairs, said in Jakarta yesterday. Renter
      Reuter  -  38 words
    • 53 12 AFP A STRONG government promotion campaign, backed by support from local Iwliwss men and a gradual economic recovery, is revitalising tourism in Taiwan. Tourism Bureau statistics show that there were a record *****9 visitors in June, the start of a four-month quiet season, after a 16-month
      AFP  -  53 words
    • 24 12 AFP SOUTH KOREA yesterday proposed resuming talks with North Korea which were unilaterally broken off by Pyongyang in January.
      AFP  -  24 words
    • 35 12 AP THE HONGKONG government yesterday said that it had asked the High Court to liquidate Thai Mercantile Finance Ltd., a deposit-taking company associated with Thailand's troubled First Bangkok City Bank. AP
      AP  -  35 words
  • Page 12 Advertisements
    • 9 12 Australia's crsdH riung nut gooa, aaya Kaating, Paga 3
      9 words
    • 217 12 Singapore Society of Accountants TECHNICAL DIRECTOR Starting salary: Bs6»jm to 8flM» per mmb The Singapore Society of Accountants is looking for a suitable candidate to fill the post of Technical Director, Dy Technical Director or Assistant Technical Director. The point of entry would depend on the experience and capability of
      217 words
  • Page 12 Miscellaneous