The Business Times, 25 February 1977

Microfilm: NL8986
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, FEBRUARY 25, 1977 SO CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon ADB aids Samoa
      65 1 AP MANILA, Thurs. The Asian Development Bank approved technical assistance to the government of Western Samoa today, for formulating an agricultural development project designed to raise productivity and Improve Income and employment opportunities. The Bank said the project will seek to rehabilitate the plantations, Improve livestock production
      AP  -  65 words
    • Article
      Lock icon How time flies ...
      60 1 How time flies AP OSLO, Thurs. Scandinavian Airlines System (SAS) today marked the 20th anniversary of the inauguration of the world's first regular passenger air route over the North Pole between Scandinavia and Japan. The route was opened on Feb 24,1957, when two SAS DC 7C passenger planes left Tokyo
      AP  -  60 words
    • Article
      Lock icon 'We won't compete now'
      61 1 Reuter TOKYO, Thurs. Japanese shipyards have told their West German counterparts thay they will not compete for orders from West German owners for the time being, the Japan Shipbuilders Association said. The association said, however, the decision did not include ships to be built under an
      Reuter  -  61 words
    • Article
      Lock icon Aid is central
      60 1 AP WASHINGTON, Thurs. US Secretary of State Cyrus Vance told Congress that foreign aid programmes are the central Dart of the Carter Administration's foreign policy toward the majority of the nations of the world. Mr. Vance testified before a Senate subcommittee in support of a Carter Administration
      AP  -  60 words
    • Article
      Engine duties cut
      54 1 KUALA LUMPUR, Thurs. The Government has reduced import duties on stationary diesel engines and water pumps. A government gazette said the duty on stationary dlesel engines has been reduced from 25 per cent to 10 per cent. For water pumps and spare parts the reduction was 30
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    • Article
      Lock icon Suharto opens centre
      46 1 Reuter JAKARTA, Thurs. President Suharto today opened a Human Resources Development Centre, built with the aid of the West German Frledrlch Ebert Stiftung (FES). The 15-storey building, which is worth 4,000 million ruplahs (SS27 million) will be used for seminars, symposiums and conferences.
      Reuter  -  46 words
    • Article
      Lock icon Priming the pump
      32 1 Reuter ISLAMABAD, Thurs. The World Bank has lent Pakistan US$lOO million (***** million) for reconstruction after last year's floods and for railway modernisation, the Bank announced here today. Reuter.
      Reuter  -  32 words
    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Thurs. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 935.01, down 3.24; 20 transp 222.24, down 0.64; 15 utils 105.64, down 0.22; 65 stocks 305.86, down 0.95. UPI
      UPI  -  44 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      162 1 SHARES ended on a mixed note at the Stock Exchange of Singapore yesterday. Gains were noted in the better class stocks with good corporate records. The Business Times index rose 2.13 points to 265.68 while the Straits Times Industrial average was fractionally higher at 253.87. Rises Most
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    • Article
      In Kuala Lumpur
      105 1 Rises Most active Petallng $4.00 .10 Gentlngs 265,000 Wearnes $2.96 .08 Central Sugars 55,000 E.N.E. $3.08 .06 E.N.E 54,000 Gentlngs $3.48 .06 Haw Par sa MM Prima PMC. D Keramat $2.08 $2.75 $6.05 .06 .06 .05 Total Turnover: 1.07 M Total Value: M$2.49 M O.C.B.C. Supreme Corp
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  • Article
    10 pc tariff cut may become Asean norm
    1611 1  -  AGREEMENT SIGNED IN MANILA By QUEK PECK LIM THE preferential trade agreement which was signed yesterday in Manila by the five Foreign Ministers of the Association of South-east Asian Nations (Asean) will come Into force 30 days after their Oovernments have ratified
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  • Article
    Govt expects 5-6 pc inflation this year
    687 1 THE Government expects an inflation rate of five to six per cent this year and real growth of between six and eight per cent, Finance Minister Mr. Hon Sul Sen told Parliament yesterday, In reply to a query from a member. (Singapore's inflation
    687 words
  • Article
    Lock icon Bolivia may yet be able to sign
    205 1 Reuter LA PAZ, Thurs. Mining Minister General Alfonso Vlllalpando has said there are good prospects of reaching an understanding with the principal tin producing countries of the world which will enable Bolivia to sign the fifth International Tin Agreement. He made the statement
    Reuter  -  205 words
  • Article
    MIGRANT WARNING
    109 1 THE Department of Immigration yesterday warned the public against harbouring illegal immigrants and employing foreigners without employmeat pnseee or work permits. The department issued a statement saying that such an act constitutes an offence under the Immigration Act, and any person convicted of such an offence is liable
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  • Article
    Malayan Credit goesto the bank again
    342 1 ALTHOUGH it is apparently flushed with surplus funds to the tune of some $40 million, the Malayan Credit group has again chosen to take another loan to finance its operations. This time, according to a one-paragraph statement, its wholly-owned subsidiary Malayan Credit Investments has
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  • Article
    Lock icon Opec has no right to set prices says Yamani
    504 1 Reuter ABU DHABI, Thurs. Saudi Arabian Oil Minister Sheikh Ahmed Zaki Yamani was quoted today as saying the Organisation of Petroleum Exporting Countries (Opec) had no right to fix oil prices. He said Saudi Arabia's refusal together with the United Arab
    Reuter  -  504 words
  • Article
    Saudis won't invest abroad anymore
    104 1 TOKYO, Thurs. A visiting high ranking Saudi Arabian government official said today his country would make no further investments In other countries, including Japan. Abdullah Ibrahim AlKuwaz, director of the Saudi Arabian government's Treasury and National Economy Research Bureau, made the remark when he was
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      76 1 SEXTUS DE SJLVA o*Qaster <^cwdler FOR FINE JEWELS DIAMONDS GEMS SEXTUS DE SILVAI HYDE (PTE) LTD JEWELLERS OF DISTINCTION COLD STORAGE ARCADE 179 ORCHARD ROAD, TEL *****3 INSIDE Ovnni newt/ TV Overeeee stock* P 7 Radio P 2 Commodities —PS Oversea* aewi/ Traiport ft CornFeature* P 3 munication* P .r.
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    • Advertisement
      Page 1 Advertisements Column 2
      100 1 Copy large size originals on one sheet, size for sizeno trimming, no sticking together. Xerox 3103 No matter what the originals. Up to 14" by 18" or 356 mm by 457 mm. Solids. Half tones. Or pale blue. The >terox 3103 gives perfect reproductions. Every time. Size for size. On
      100 words
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      Page 1 Advertisements Column 3
      186 1 J//S S/S//J f par G O L F PTE LTD the golfer's shop M«" C AG EAS' S'-'OPP'NCi ORCHARD «OAC 9. TE. 3 >0238 A Wayfoong MAF loan can help you get through the difficult months of any business. A big idea isn't enough. A business needs Wjyfoong MAF. MAF
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  • OVERSEAS
    • Article
      Lock icon PERES TO GET TOP POST: RABIN
      815 2 AFTER THE HARD FOUGHT CONTEST UPI TEL AVIV, Thurs. Prime Minister Mr. Yitzhak Rabin says he will name defeated challenger Mr. Shimon Peres to a top post In his next administration In a move to unite Israel's troubled Labour Party before a stiff challenge
      UPI  -  815 words
    • Article
      Lock icon U.S. HOLDS UP FISHING PACTS
      190 2 AP WASHINGTON, Thurs. A US House of Representatives sub-committee yesterday postponed action on agreements to permit European Economic Community nations, Spain, Japan and Korea to continue fishing within the new 320-km United States fishery zone after it goes into effect next Tuesday. The fisheries and
      AP  -  190 words
    • Article, Illustration
      Lock icon No hard feelings!
      42 2 A VICTORIOUS Prime Minister Yitzhak Rabin (seated) accepting a handshake from Defence Minister Shimon Peres who lost to Mr. Rabin by a small margin in the Labour Party nomination race for leadership of the party. UPI photo. UPI photo.
      UPI photo.  -  42 words
    • Article
      Lock icon Arabs go to Egypt's rescue with $5 bil
      107 2 AP BEIRUT, Thurs. Oil producing Arab nations of the Persian Gulf have agreed to extend urgent aid of US$2 billion ($4.9 billion) to help Egypt conquer Its economic and financial crisis, the Beirut newspaper Al Anwar reported today. It said the decision
      AP  -  107 words
    • Article
      Lock icon CFTC: WE'LL GIVE OPTIONS A GO
      359 2 Reuter LONDON, Thurs. The US Commodity Futures Trading Commission (CFTC) wants to see Its commercial users of futures markets take an active part In commodity futures options before accepting that options play a useful economic function, CFTC commissioner Gary Seevers said. He told the
      Reuter  -  359 words
    • Article
      Lock icon By-election outcome is crucial to Labour
      494 2 Reuter AP. LONDON, Thurs. Britain's ruling Labour Party Is almost certain to be left outnumbered In Parliament for the first time since gaining power In 1974 as a result of a by-electlon today In the heart of London. Prime Minister James Callaghan s government
      Reuter; AP.  -  494 words
    • Article
      Lock icon Sugar price is down
      459 2 AP LONDON, Thurs The trice of sugar on the andon market was depressed for the second straight day yesterday. Dealers said the reason was a forecast by West German statistician F.O. Llcht that world sugar stocks would Increase appreciably by the end of the current season.
      AP  -  459 words
    • Article
      Lock icon Muldoon's visits
      142 2 Reuter WELLINGTON, Thurs. New Zealand Prime Minister Robert Muldoon will visit Australia, Europe and West Asia, an official statement said. It gave no details of the length of his trip, but said Australian Prime Minister Malcolm Fraser had invited Mr. Muldoon "to discuss questions of mutual interest in
      Reuter  -  142 words
    • Article
      Lock icon Russia calls for higher raw material prices
      270 2 Reuter MOSCOW, Thurs. The Soviet Union, which claim* to be the world's largest exporter of raw materials, is pressing the case for higher prices on the international markets. "Conditions in the world have long been ripe for a substantial increase in prices for
      Reuter  -  270 words
    • Article
      Lock icon Accord in Dutch building industry
      96 2 Reuter THE HAGUE, Thurs. Unions and employers in Holland's building industry reached a compromise on wages and improved holiday benefits after a 16-day strike. Building workers, who struck in support of a claim for a two per cent real rise in basic wages, will now
      Reuter  -  96 words
    • Article
      Lock icon Carter talks with M-E leaders to start soon
      509 2 AP WASHINGTON, Thurs. President Carter said yesterday he will open his round of talks with Middle East leaders on March 7 on a visit here by Israeli Prime Minister Yitzhak Rabin. But, Mr. Carter told a news conference, while the United States
      AP  -  509 words
    • Article
      Lock icon Deficit likely in revised budget
      276 2 Reuter PARIS, Thurs. The French Government will present a supplementary 1977 budget to Parliament In the session starting April 4 to take account of exceptional expenses In 1976. Presidential spokesman Jean Philippe Lecat said. Mr. Lecat gave no details of the expenses or their total
      Reuter  -  276 words
    • Article
      Lock icon TUC TERM FOR PAY TALKS
      219 2 Reuter LONDON, Thurs. The General Council of the British Trades Union Congress decided It will discuss a new pay deal with the Government only after seeing the financial measures to be proposed In the annual budget, TUC general secretary Mr. Len Murray said. The budget
      Reuter  -  219 words
    • Article
      Lock icon Pound stability may be tested against US$
      194 3 Reuter CHICAGO, Thurs. The stability of sterling at the US$l.7O level will be tested In the next few months and Its value against the dollar could drop five to seven per cent during that period, Harris Trust and Savings Bank vice-president Talat Othman
      Reuter  -  194 words
    • Article
      Lock icon French steel's aid pledge
      173 3 Reuter PARIS, Thurs. The government today pledged financial aid for France's ailing steel Industry In a surprise move carrying strong undercurrents of nationalisation. In return for the state aid, which will run somewhat below 3,000 million francs (551,470 million), the government said It would now take
      Reuter  -  173 words
    • Article
      Lock icon Offshore licensing: Sixth round soon
      169 3 Reuter LONDON, Thurs. Energy Secretary Tony Benn said preset Indications are that the sixth round of British offshore licensing Is not verv far away. But his department Is not yet ready to announce a definite date, he told a luncheon of the Council of British
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    • Article
      Lock icon 'Less than even chance of sea law accord this year'
      316 3 AP WASHINGTON, Thurs. Richardson said today the chance if "lot less than even" that the Law of the Sea Conference will agree this year on a treaty governing seabed mining. Mr. Richardson, President Carter's choice to represent the United States
      AP  -  316 words
    • Article
      Lock icon Humphrey: Two big New York banks on the Watch List
      716 3 WASHINGTON, Thursday Reuter SENATOR Hubert Humphrey said yesterday he has information that two of New York City's five biggest banks are on the Federal Reserve Board's "Watch List" of banks that may be in difficulty. Mr. Humphrey, who said a
      Reuter  -  716 words
    • Article
      Lock icon Saudi imports up by 82 per cent
      521 3 AP NICOSIA, Thurs. The United States, Common Market countries and Japan supplied about 72 per cent of Saudi Arabia's total 1975 Imports, costing US$7.7 billion (SslB.B billion), the English-language Dally Gazette reported. In Its 1976 economic review, the Saudi Arabian Monetary Authority said
      AP  -  521 words
    • Article
      Lock icon Rapid growth in Moscow's foreign trade
      706 3  -  By THOMAS KENT AP MOSCOW, Thurs. The Soviet Union's foreign trade is growing rapidly with Ideology taking a back seat as Moscow does business with friends and opponents alike. Total Soviet Imports and exports were worth US$74 billion (*****.3 billion) last year, a 40
      AP  -  706 words
    • Article
      Lock icon 'Cheaper to buy grain'
      241 3 AP MOBCOW, Thurs. A Soviet agriculture official explained Russian Purchases of American grain yesterday by saying It Is Inconvenient to transport Soviet grain across the USSR. "It is more economical to bring bread to the (Soviet) Far East from America than to carry It by rail
      AP  -  241 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      494 2 Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most powerful supra-national government in the world today. This book is about the efforts of poor nations to gain some control over their own economies and the role of IMF in frustrating these efforts. A
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      51 2 JHER WEATHER report for 24 hours prior lo 7.30 p.m. on Feb 24 at Singapore airport: Maximum temperature 29.0° C Associated humidity 71 Minimum temperature 22.9° C Associated humidity 92 Hours of sunshine 2.30 Rainfall in millimetres 0.5 Total rainfall for the month 85.6 Total rainy days for the month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      318 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening followed by Housewives' Matinee Scholar with a Halo (repeat). 4.05 Diary of events (Chinese) 4.10 Window (Chinese repeat) 4.35 Intermission 6.10 Opening followed by exercise with Gloria 6.30 News in Brief 6.35 Thrillseekers (Last episode) 7.05 SAP Boys' School (repeat) 7.30 News and
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      616 3 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
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  • COMPANY NEWS
    • Article
      Malayan Tobacco prospects uncertain
      1329 4 AFTER turning In record pre-tax profit of $48.2 million in 1975/76. Malayan Tobacco Company says prospects for the current year appear uncertain In view of the recent round of Increases In excise and duty rates. Last October's Increases raised excise duty on cigarettes by 15 cents
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    • Article
      Kemayan interim earnings take a plunge
      158 4 IF results In the first half of the current year are any indication, then It looks as If the downturn predicted by Kemayan OH Palm's chairman, Dr. Slow Kon Sang in his last annual report, Is coming true. Pre-tax profit of the parent company,
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    • Article
      Outside sources
      157 4 However, the company attributed the lower profit mainly to the higher prices paid for Its purchase of FFB from outside sources, increases In production costs and lower average selling prices. A substantial part of the company's palm oil output comes from FFB purchased from outside sources. During the
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    • COMPANY MEETINGS
    • Article
      Gula Perak directors refuse to sign report
      822 4 DIRECTORS of Quia Perak have refused to sign the directors' report and statutory declaration In the company's audited accounts and report for the year ended March 31, 1976 which will be presented to shareholders for adoption next Monday. This will confront shareholders of
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    • Article
      DIVIDENDS ANNOUNCED
      178 4 Curreat Ex Date Total for Total for payment Date payable the year previous year Straits Time* 27.5* Feb 11 Mar 3 27.5% Time* Publishing 17.5% Feb 11 Mar 3 27.5% 25% M. Tobacco 35% Feb 7 Maris 50% 40% Wilkinson Process 15% Mar 7 Mar 24 20% 39.1%a
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    • Article
      CHICAGO BOARD OPTIONS
      1270 4 OPTION' A PL JLY OCT STOCK Alcoa 50 41/2 5 5/8 6 3/8 54 Alcoa 00 1/4 1 11 3/4 54 Am Tel 50 UNTRD NOL NOL 63 1/2 Am Tel 55 9 1/8 UNTRD NOL 63 1/2 Am Tel 60 4 1/8 4 5/8 4 5/8
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    • Article
      Donald MacPherson record earnings
      345 4 LONDON, Thurs Doubled earnings from overseas operations and export successes helped Donald MacPherson Group lift Its pre-mx profit from £1.56 million to a record £2.76 million for the 53 weeks ended Oct 31, 1976. At halfway the figure was up from £440,000 to £1.13 million. The
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    • Article
      Bank head foresees stabilised market
      161 4 DUESSELDORF, Thurs.— The German stock market Is expected to stabilise soon after Its present weak phase, president of the German Banking Association Mr. Wllhelm Christians said. Mr. Christians, also Joint managing board spokesman of Deutsche Bank, said negative factors currently overshadowing the market above all
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    • Article
      IU Int'l optimistic
      139 4 NEW YORK.Thurs.- Reporting a 49 per cent plunge In 1976 net profit, IU International Is confident of Improved earnings In the current year. It said 1977 operating results should be paced by land transportation, utility services and industrial products and services. The Improvement was already evident in
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    • Article
      Lock icon Dunlop to expand
      82 4 Reuter LONDON, Thurs. Dunlop Holdings said It plans to Increase capacity at Its radical tyre factory at Birmingham by 40 per cent through a £10 million expansion plan. The Increased capacity due to come on stream In 1978, will help meet growing world demand for radial truck
      Reuter  -  82 words
    • Article
      Lock icon Oil find at Statfjord
      71 4 Reuter OSLO, Thurs. The Statoll Mobil Oroup struck oil In a separate structure north of the Statfjord Field In the Norwegian section of the North Sea, the Directorate of Oil said. It said tests showed a production level of 12,558 barrels of oil per day In
      Reuter  -  71 words
    • Article
      Lock icon Amro enjoys 14 pc profit increase
      385 4 FT AMSTERDAM, Thurs. Amro Bank, Holland's second largest commercial banking group, has reported net profit ol F Is. 184.2 million In 1976, representing an increase of 14.2 per cent on the previous year's figure. The 1975 Increase was 27.9 per cent, excluding the contribution
      FT  -  385 words
    • Article
      Petronas enters joint venture in LNG
      300 4 A MALAYSIAN wMipany to produce liquefied natural gas (LNG) will be set up this month between MltsubH shl, Royal Dutch/ Shell an<J Petronas, according to the Japan economic Journal, 1 Kelzal Shim bun. Petronas officials cllned to elaborate on thd timing of the ment
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      Page 4 Advertisements Column 1
      193 4 Have MiiSotjour copy of flie 1916/77 BUKUMERAH? The complete filing cabinet on the Singapore business scene alphabetical INDEX OFFICIALS AND PUBLIC BODIES INFORMATION DIRECTORY OF SINGAPORE *M7> KTJ Irirl 14 F*AS£R s? Sff It's the 1976/77 "Red Book" the office/library reference book covering the business scene in Singapore. It is
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Mixed feelings on Chrysler outlook
      414 5 Reuter NEW YORK, Thurs. Automobile Industry analysts said Chrysler Corp's 1976 earnings were right on target, but they had mixed feelings about the profit outlook for 1977. Referring to Chrysler's 1976 operating net of U555.45 a share. Mr. David Healy of Drexel Burnham said It
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    • Article
      Lock icon Carmakers report drop in February sales
      335 5 Reuter DETROIT, Thurs. The big four American automakers have reported new car sales down about seven per cent in mid-February, and analysts blamed severe winter weather for the decline. However, the analysts noted that sales In the first 10 days of the month were
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    • Briefly
      • Article
        NYT board change
        72 5 NEW YORK, Thurs. The New York Times has elected former US ambassador to the United Nations, Mr. William Scranton, to the board to replace Mr. Cyrus Vance, who resigned to become Secretary of State, the newspaper announced yesterday. Mr. Scranton will fill Mr. Vance's unexpired one-year term
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      • Article
        Saab-Scania
        61 5 LONDON, Thurs. SaabScania's US$5O million 8-1/2 per cent 12-year Eurobond was priced at 99-1/4 per cent to yield 8.6 per cent, Joint lead manager Union Bank of Switzerland (Securities) said. A re-purchase fund will start In April, which would bring the average life of the bond to 8-1/2 years.
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      • Article
        Japanese boilers
        98 5 TOKYO, Thurs. A leading Japanese boiler maker has won an order for six firing boilers and related equipment worth US$l5 million from Kenana Sugar of Sudan, company officials said yesterday. Takuma obtained the exporting order in bidding by the world's leading boiler makers, including General Electric of the
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      • Article
        Ampol
        71 5 SYDNEY, Thurs. Ampol Petroleum said it will Issue ASIS million of debenture stocks to shareholders with registered addresses In Australia. Interest rates are set at 11.50 per cent annually for four years, 11.75 per cent for seven years and 12 per cent for 10 and 15 years. The issue
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      • Article
        Margin trading falls
        67 5 TOKYO, Thurs. The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo, Osaka and Nagoya stock exchanges as of Feb 18 fell to 865.6 billion yen from 878.2 billion a week before. The outstanding balance of selling in margin trading on
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      • Article
        Deere
        65 5 NEW YORK, Thurs— Net profit at Deere fell to US$4O.2 million from $45.7 million in the first quarter ended Jan 31, 1977, on sales down to $606 million from $633 million last time. Earnings per share fell to 67 cents from 77 cents previously. The company said the first
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      • Article
        Hellenic Bank loan
        58 5 LONDON, Thurs. A US$l2 million loan agreement for the Hellenic Industrial Development Bank has been signed here, Citicorp International Group said. This is the first Euromarket borrowing by the bank. The loan was arranged by Lehman Bros and the Citicorp International Group with funds provided by a
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      • Article
        IC Ind
        82 5 NEW YORK, Thurs. Fourth quarter net profit at IC Industries roße to US$l7.l million from $12.48 million on revenue of $442.5 million ($397.2 million). This brought the total profit for 1976 to $46.09 million, up from $33.68 million last time, on revenue of $1.69 billion ($1.5 billion). Earnings
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      • Article
        Bloedel
        67 5 VANCOUVER, Thurs. MacMlllan Bloedel president, Mr. C. Calvert Knudsen, said the company plans a Cs4so million capital spending programme in British Columbia over a fiveyear period to maintain and improve its facilities. Of the total, about $253 million will be allocated to logging, lumber and plywood operations, $190 million
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    • Article
      Lock icon Cons Gold reduces loss
      166 5 Reuter SYDNEY, Thurs. For the first half-year ended Dec 31, 1976, Consolidated Gold Fields of Australia has managed to reduce Its net loss to A 5459,000 from $2.88 million last time. In the corresponding period, the loss included extraordinary items of $251,000. The improvement came on
      Reuter  -  166 words
    • Article
      Lock icon ATT told to give subsidiary autonomy
      139 5 Reuter WASHINGTON, Thurs. The Federal Communications Commission ordered American Telephone and Telegraph to establish more autonomy and independence between the Bell System operating companies and its Western Electric manufacturing subsidiary. The FCC did not rule AT and T had to sell Western Electric, but
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    • Article
      Lock icon Lockheed contracts with Canada
      136 5 UPI OTTAWA, Thurs. Lockheed Aircraft has placed contracts worth US$lOO million with Canadian industry in the past two years, Industry, Trade and Commerce Minister Jean Chretien announced yesterday. Of the total, $70 million will be industrial benefits stemming from the July Sur chase by the Canadian
      UPI  -  136 words
    • Article
      Lock icon Surprise for Wall St
      861 5  -  IBM BUYS OWN SHARES By VARTANIG VARTAN NYT INTERNATIONAL Business Machines rates superlatives in Wall Street. Renowned as the classic growth company, its shares fetch a higher price than any other issue on the New York Stock Exchange. And for years, IBM has been by far
      NYT  -  861 words
    • Article
      Lock icon Corning reveals foreign payoffs
      179 5 Reuter CORNING, Thurs. Corning Glass Works, manufacturers of Corning ware and pyrex products, said yesterday Its foreign subsidiaries spent a total of U*****,000 in "questionable payments" over the past six years. Corning did not Identify the subsidiaries or the countries In which the payments were made,
      Reuter  -  179 words
    • Article
      Bell Canada
      33 5 TORONTO, Thurs. Bell Canada has Increased its quarterly dividend on common shares to C 51.02 a share from 93 cents, payable on April 15, to shareholders on record on March 15.
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    • Article
      Lock icon Marathon to drill in Visayan Sea
      173 5 Reuter MANILA, Thurs. Marathon Petroleum Philippines, a wholly-owned subsidiary of Marathon Oil of Find lay, Ohio, and four Filipino exploration firms are to drill In the Vlsayan Sea, Central Philippines, early next month, the Energy Development Board said. Under an agreement signed yesterday by
      Reuter  -  173 words
    • Article
      Abercom reports slight improvement
      237 5 JOHANNESBURG, Thu! s— The engineering group Abercom. whose founder and chairman Mr. Murray McLean resigned abruptly last year, has reported pretax profit up from R5.3 million to R5.9 million for the six months ended Dec 31 which, with turnover up from R50.7 million to R54.5 million
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    • Article
      Lock icon Toa Nenryo record earnings
      141 5 UPI TOKYO, Thurs. Toa Nenryo, a major oil refiner In which American firms own a 50 per cent Interest, has reported record earnings for 1976. A spokesman said the company's after tax profit was U5553.4 million, almost four times as great as the after-tax profit for
      UPI  -  141 words
    • Article
      Lock icon NK loan
      62 5 Reuter DUESSELDORF, Thurs The price of the Norges Kommunalbank 100 million mark Eurobond will be fixed on March 4, a spokesman for lead manager Westduetsche Landesbank Glrozentrale said. The spokesman confirmed the conditions for the 12 year seven per cent Eurobond given by market sources last Friday. He
      Reuter  -  62 words
    • Article
      Lock icon US-Arab venture
      144 5 UPI MCLEAN. Virginia. Thurs. Dynalectron Corporation yesterday announced approval of arrangements to establish an Egyptian corporation, Dynarab Engineering and Construction SAE, to serve the West Asian petroleum and petrochemical Industries. The new company will have its headquarters In Cairo. The company will be an engineering and construction firm
      UPI  -  144 words
    • Article
      Boeing income rises 35 pc
      190 5 SEATTLE, Thurs. Higher orders and lower Interest charges have resulted In Boeing ending 1976 with a 34.8 per cent lump in net profit to U*****.89 million ($76.35 million). Reporting the full year results yesterday, Boeing says sales in the current year should be somewhat better
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    • Article
      Lock icon Beneficial earnings up
      103 5 Reuter WILMINGTON, Delaware, Thurs. Beneficial Corporation has reported Increased earnings for 1976 despite a loss in the fourth quarter. The firm said Its earnings for the year were US$lOO.4l million, or $4.52 a share, compared with $73.37 million, or $3.34 per share, in 1975. The net profit
      Reuter  -  103 words
    • Article
      CNA
      43 5 WASHINGTON. Thurs Calsse Natlonale des Autoroutes filed an offering with the Securities and Exchange Commission for US$5O million of guaranteed bonds due 1997 through First Boston Corp, Goldman. Sachs, and Smith Barney, Harris Upham. The bonds are guaranteed by the French Government.
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    • Article
      Lock icon BOC profit jumps
      312 5 Reuter LONDON, Thurs. In the first quarter ended Dec 31, 1976, BOC International has achieved a 30 per cent Jump In pre-tax profit to £16.61 million (£12.78 million) on a sales rise of 22.6 per cent to £159.22 million (£129.89 million). Earnings per share rose to 2.55p
      Reuter  -  312 words
    • Article
      Woolworths buoyant
      88 5 SYDNEY, Thurs. On a ?ross revenue increase of 1.6 per cent to A 51.24 billion ($1.02 billion), Woolworths has raised net profit by 45.9 per cent to $23.69 million ($16.24 million) for the year ended Jan 26, 1977. The profit Is after extraordinary gains of $853,000 against losses
      88 words
    • Article
      Lock icon Texaco sits on reserves
      264 5 AP WASHINGTON, Thurs. Texaco Oil Is sitting on reserves In the Gulf of Mexico containing over 14 billion cubic metres of natural gas but failed to produce from these reservoirs because of its "desire to maximise Its profits," congressional investigators said. Investigators for the US House
      AP  -  264 words
    • Article
      Lock icon Bancal opposed to Standard Chartered merger offer
      245 5 Reuter SAN FRANCISCO, Thurs. Bancal Trl-State said It is opposed to a US$l3O million merger offer from Standard Chartered Bank of London. Bancal Trl-State chairman, Mr. Chauncey Schmidt, in a statement said directors will hold a special meeting to act on the offer.
      Reuter  -  245 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      498 5 THESE ARE THE BOOKS THAT HITLER BURNED y, s*l J. its I !I~ r-88~ lit i*^' 1 j >*. "1 "1 ~)ir ,v: f ..J''"'' f V f f f S s 'iS.<g|' ss'i nk THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For
      498 words
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  • Article
    Share Information Service
    2119 6 1971/77 Hi«k Low Company Lul Sal* +OCGr't div Div c'vr Gr't jrH Not P/E Vol COOO) Day High Low SECTION ONE INDUSTRIALS 175* 133 206 100 237 186 201' 204 248 460 133 130 172 60 185 66 127* 140 172 384 Acma Acma A Alcom Allied
    2,119 words
  • Article
    Transactions in Singapore
    1064 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board
    1,064 words
  • Article
    In Kuala Lumpur
    1316 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS Aetna (1 428 1 455) A. Tape (0 508 0 5351 (2)
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  • Article
    Stock options
    128 6 STRIKING prices of the stock options offTicially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. DBS (June 13.90) (0.27*) <l> 11.27 1 (2) 0.28 (Sept 53.90) (0.30B) Inchcape (June $2.40)
    128 words
  • Article
    Unit trusts
    166 6 SINGAPORE UNIT TRUST (Managers' price* for Feb 2S) INCOME BOND UNIT The Commerce 1 T7 1 87 -(Curreni prices) The Saving Fund 0 90 1 01 INCOME BOND 1 10 1.16 S pore Prog Fund 0 82 0 87 S pore Security Fund 1 38 1 40 S'pore
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  • Article
    Corporate Bonds
    161 6 B O T 8 1/2% 1981 (100.000) (102*B 103*S) D B S 8 1/2% 1982 (100.000) (99*8 100HS) DBS Converts 6 1/2% 1991 (100,000) (96*8 E I B 9% 1982 (100,000) (1038 104S) E I B 8 1/4% 1983 (100.000) (9958 100*S) I B J 8 1/2% 1981
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  • Article
    Domestic govt bonds
    105 6 5 1/2% 1/12/77 (1.000,000) (101.558 101.635) 5 1/2% 15/4/78 (1.000,000) (101 608 101.70S) 5 1/4% 15/7/78 (1,000,000) (101.558 101.60S) 6 1/2% 15/8/78 (1,000,900) (103.358 103.505) 7% 1/7/79 (1,000.000) (104.858 105.00S) 5 1/2% 1/10/77-79 (1,000,000) (101 608 101.70S) 5 1/4% 15/10/79 (1,000,000) (101 088 101.18S) 6 3/4% 15/6/80
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  • Article
    Bullish spots at Exchange
    631 7 A NUMBER of bullish patches were noted in an otherwise listless Stock Exchange of Singapore yesterday. Those singled out for support were mainly the stocks with good proven track records. The recent crop of corporate reports which showed considerable improvement in tone, no doubt, had some
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  • Article
    Shares in KL see gains
    401 7 A FRESH round of speculative buying lifted prices in selective trading at the Kuala Lumpur stock market yesterday. Prices which opened at around overnight levels, spurted ahead after the first hour of trading. However, this was not sustained in the afternoon session when operators turned
    401 words
  • Article
    Lock icon CGT, CMM merger
    110 7 Reuter PARIS, Thurs. Cle Generale Transatlantlque (CGT) and Cle des Messagerles Marltlmes (CMM) said in a Joint statement that shareholders approved the merger of the two firms. Under terms of the merger CMM share-holders will receive In exchange for every five shares held two shares in Cle
    Reuter  -  110 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1238 7 NEW YORK: A cautious mood prevailed again on Wall Street on Wednesday, as deepening worries about Inflationary prospects sent prices lower in very slow trading. Federal Reserve Board chairman Mr. Arthur Burns expressed this concern when he told the Joint economic committee of Congress that increased federal spending
      1,238 words
    • Article
      Frankfurt
      339 7 FRANKFURT: Shares close mixed to higher on some buying from Institutions, but trading remained quiet on Wednesday, dealers said. Leading chemical and electrical shares rose, with Baaf and Siemem each gaining 1.80 marks. AEG rising 1.70 marks and BBC 3.20 marks. Store, steel, and auto shares rose up to
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    • Article
      Zurich
      282 7 ZURICH: The stock market closed slightly firmer in more active dealings on Wednesday. Leading banks moved higher, led by Bankverein. The latter announced an Increased net profit for 1976 and an unchanged dividend. Bally, Oerli-kon-Buehrle, Maag registered and Motor Columbus featured the generally well disposed sector of flnanclals, while
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    • Article
      Brussels
      154 7 BRUSSELS: Share prices closed mixed in quiet trading and price movements were small on Wednesday, dealers said. Hainaul-Sambrr. Finoulremer and Arbed rose but Sidro, Ebea and Tabacofina fell. In foreign stocks UK and Dutch shares rose. (Hermans were steady. Canadians little changed and US and French shares mixed. Petroftna
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    • Article
      Toronto
      356 7 TORONTO: Gold and paper issuespaced a modest upturn on the Toronto market at the close of moderate trading on Wednesday. Abitibi rose at 9%, MacMillan Bloedel at 23, and Great Lakes at 28%. Dome Mines gained 1% at 53W, Sigma at 21%, and Dickenson Mines 10 cents at 4.90.
      356 words
    • Article
      Sydney
      414 7 SYDNEY: Share prices closed mixed with mines strong on higher overseas metal prices on Thursday, dealers said. Woolwortha rose 10 to 1.21 on its higher results announced on Wednesday, and Borg Warner rose 25 to 1.85. The Sydney AU-Ordlnarles rose 0.08 point to 424.39. C'RA gained 12 to 3.12,
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    • Article
      Paris
      420 7 PARIS: The market eased on Wednesday, although selling pressure was less marked than recently and some sectors, notably oils and chemicals, were resistant. Banks eased but CCF, which proposed a higher dividend, added a few centimes. Autos were generally lower, although Equipment-Manufacturer DBA recovered about four per cent. It
      420 words
    • Article
      Jo'burg
      388 7 JOHANNESBURG: Gold shares were steady towards the close on Wednesday, after opening firmer In line with the higher bullion price, dealers said. However, one or two shares showed gains towards the close with Bunds 75 cents higher at 1,325 EaaUlriea was 25 cents higher at 900 Financial minings were
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    • Article
      Tokyo
      498 7 TOKYO. Share prices closed slightly higher on Thursday, led by blue chips, after an Initial rally was curbed by late profittaking. dealers said. The Dow-Jones average gained 3.80 to close at 5,041.71 with volume 230 million shares. The new Index closed at 381.78, up 1.08. Export-oriented shares firmed reflecting
      498 words
    • Article
      Amsterdam
      258 7 AMSTERDAM: Shares advanced over a broad front on Wednesday aided by further declining strike activity In Dutch Industry, dealers said Akzo was a sole small loss in Dutch Internationals ahead of its provisional 1976 figures due on Thursday. Gains were led by Shell and Hoogovens. Elsewhere, gains were led
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    • Article
      Hongkong
      407 7 HONGKONG: The market eased further In moderate trading on lack of support and some overseas and margin a selling on Thursday, dealers said. The Hang Seng Index dropped 4.04 points to 430.34 Swire Pacific fell 25 cents to HKSB.6S, Hongkong Land 15 cents to $7.25, Jardine Matheaon 10 cents
      407 words
    • Article
      Milan
      165 7 MILAN: The market closed mixed to lower In light trading on Wednesday, dealers said. Fiat, Anic, Snia Viacota, Pirelli SPA and both Olivetti lost ground in mixed Industrials while Pirelli E C and Montedison gained on renewed demand. Aaiicurazioni Generali were marginally higher in Insurances as were Baatogi and
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    • Article
      Manila
      171 7 MANILA: The market was slightly higher In quiet, selective trading on Thursday with turnover rising to 3.03 million pesos from 2.72 million on Wednesday, dealers said Among oil Issues, demand centred on the Marathon consortium, which Is to drill In the Vlsayan Sea, central Philippines early next month Gainers
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    • Article
      Bangkok
      89 7 FEB 24 Bahts Asia Fibre 123 1 Bangkok Bank 253 -2 Bangkok Invest 157 ♦5 Bangkok-Metro-politan Bank 2600 Bala 379 +2 Berll Jucker 173 +2 Charoong Tha! Wire 163 unch Dumex DusltThani Faber Merlin First Trust 138S unch Indo-Thal J And J Ho 189 -1 Jalaprathan Cement 83 unch
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    • Article
      Indices
      68 7 FINANCIAL TIMES INDUSTRIALS Wednesday 402.1 Tuesday 397.7 Week ago 385.2 DOW JONES AVERAGE INDUSTRIALS Wednesday 938 25 Tuesday 939 91 Week Ago 948 30 LONDON DOLLAR PREMIUM Wednesday to 114%% Tuesday 110", to 111% H.K. HANG SENG Wednesday 434 38 Tuesday 439 77 Week ago 439.61 SYDNEY INDUSTRIALS Wednesday
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      364 7 Yes, Penguin books are not to be found in any ordinary shop. ot n roadside stalls. Heavens, certainty not in the pasar malam! Because Penguin books are rather q special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational tiL 4 t.iSrn J I kfi quite unlike
      364 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      731 8 PRICES were marked down 1.50 cents at the opening In the Singapore rubber market yesterday, In line with easier overseas advices, and lost a further cent on stale bull liquidation and forwards offeringForwards trading was active with Interest spreading to Jly/Sept 1977 while turnover was
      731 words
    • Article
      Closing prices
      25 8 Rubber; Feb 24 (down 3.50 eta.) Malaysia: 203.00 cU. (down 3.50 eta.) Tin: 51,500.12* (up 112.12*). Official offering: 159 tonnes (down 28 tonnes).
      25 words
    • Article
      Gold
      323 8 IN the Singapore gold market yesterday, the kllobar was quoted In the range of Ssll,llo to 5511,130. The price is now at Its highest point since December, 1975. On a loco London basis the quote was U*****.50/ 140.00 with good two way business being noted. The London morning fix
      323 words
    • Article
      SSR and SMR
      98 8 Mar. Apr. R.A.S. (Current Mth) (For* rani Mth) Buyer* Seller* Buyer* Seller* (cet ■taper kg) (ceau per kc) SSR20 (1-ton Pallet) 189.00 191 OON 190.50 192.SON SSR50 (1-ton Pallet) 1M 50 188.50N 188 00 190 OON M.R.E.L.B SMR5CV (1-ton Pallet) 210.00 221 OON 222 00 224.OON SMR5L
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    • Article
      Palm Oil
      115 8 The following Palm Oil prices wen prices are elf Rotterdam and are que i quoted In London on Wednesday. The >ted in US dollar per ton unless otherwise stated. Wednesday Pre*. Malaysia 5H ffa bulk Apl/May unch 512 sir Sumatra 3% Feb unch 520* Mch 525 sir 520"
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    • Article
      Wheat
      118 8 CHICAGO, Wed. Wheat futures closed with gains of 1 1/2 to 2 3/4 cents a bushel, aided by the strength In soybean futures. The spillover of buying from beans overcame the negative effects of improved moisture in wheat-growing areas as showers and thunderstorms moved across the plains and mid-west.
      118 words
    • Article
      Straits tin
      237 8 THE Btralts tin price In Penang yesterday was up $12.12* to $1,500.12* on an official offering down 28 tonnes to 159 tonnes. In LONDON yesterday, tin closed around £22 per tonne lower. There was little fresh physical demand to support the market. Prices continued to fluctuate In the
      237 words
    • Article
      Zinc
      61 8 LONDON, Thurs. Zinc gained mostly £5.50 per tonne In the morning. Renewed fresh buying and chartist support took the market to a new high for the current movement of £444.50 for Three Months. But the higher levels soon brought out profit-taking and heage selling which pared the advance by
      61 words
    • Article
      Rice
      214 8 BANGKOK, Thurs. Indicative prices for rice quoted In Bangkok were: US dollars per tonne fob basis Bangkok. White Rice: 100 per cent Ist class 252 100 per cent 2nd 287 100 per cent 3rd 262 5 per cant 254 10 per cent 233 15 per cent 230 20 per
      214 words
    • Article
      Produce Prices
      292 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk I 87W sellers, old drum 892 W sellers new drum 897 sellers. Copra Mixed (loose) UK/Cont 856 buyers. Pepper: Muntok ASTA white f.o.b. 100H NLW 8 355 sellers, Sarawak white f.o.b 96S NLW 8335 sellers,
      292 words
    • Article
      Coffee
      350 8 LONDON, Thurs. Robusta futures rose sharply during the opening session on local dealer and commission house buying which Bushed all except the near Ich position above the £3,500 mark. Due to active trading the call was extended by some 20 minutes at the end of which values were £87
      350 words
    • Article
      Sugar
      247 8 LONDON, Thurs. Futures opened steady with a good trade house Interest evident on both sides which coupled with some speculative activity boosted the turnover to 1395 lots. Prices at the end of the opening call were £1.40 lower to £0.20 per tonne higher than Wednesday's 1700 hours levels. Prices
      247 words
    • Article
      Lead
      69 8 LONDON, Thurs. Lead rose up to £6 values In the pre-market traded around higher late Kerb levels in the morning, but further fresh and chart buying in the Ring lifted Three Months to a record traded £431 per tonne. Profit-taking and trade selling soon developed and down to £426
      69 words
    • Article
      Copper
      321 8 LONDON, Thurs. copper wire bars registered gains of mostly £1.50. Early buoyancy reflected firmness In New York overnight and continued strength of gold dealers said. Three months traded from £878 upto £883 but profit-taking and hedge selling in the Ring reversed the trend due mainly to the low level
      321 words
    • Article
      Silver
      193 8 LONDON, Thurs. Silver registered gains of 2.2 to 2.3 pence per troy ounce In the morning reflecting the overnight rise In New York and firmness In gold. But after trading upto 281.7 pence for Three Months under fresh buying, values receded to finally change hands at 280.7 pence. Carries
      193 words
    • Article
      Soybeans
      136 8 CHICAGO, Wed. Soybean futures traded sharply higher, touching the 30 cent a bushel limit In the May and reaching new seasonal highs In August and new crop months before easing back on profit-taking. Closing prices reflected gains of 20 1/4 to 9 1/2 cents a bushel. The 30-cent advance
      136 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      498 8 THE Singapore foreign exchange market saw hectic trading yesterday with the US dollar gaining about 100 points against the Deutsche mark. From the opening of Dm 2.3965/75 In Singapore, dealers said that the US dollar shot up steadily in the afternoon when dealers In Europe bid strongly for the
      498 words
    • Article
      Asian $ rates
      167 8 Asian rates ASIAN currency deposit interbank 3 I at clow on Feb 24 US Dollar (Spat) Offer BM 7 days 4 13/16 4 11/16 1 mth 4 IV14 4 1V1S 2 mthi J 9/14 3 mthi SVI S 5/4 8 mthi 5 J/4 5 V* 9 mthi S 7/8 S
      167 words
    • Article
      Discount
      8 8 gaii nvi™ T5± Source: National Discount Co
      8 words
    • Article
      Euro $ rates
      156 8 Euro rates LONDON, Thurs. Period Eurodollar deposits opened firmer while snorts were little changed from last night's closings, dealers said. Shorts met average business while period trading was moderate. Firmer levels In periods were ascribed firstly to the loss of the Friday dealing technicality and then very active enquiry stemming
      156 words
    • Article
      London
      249 8 LONDON, Thurs. The Swiss franc moved sharply lower In early trading, pulling the mark and other joint float currencies down with it against the dollar, dealers said. The Swiss franc fell to an Indicated 2.5455/65 to the dollar before recovering to 2.5435/45 against the overnight 2.5290/5300. Some re-assessment of
      249 words
    • Article
      New York
      180 8 NEW YORK, Wed. The Canadian dollar fell sharply In substantial trading here and in Canada while the US dollar closed stronger on balance than Tuesday night, dealers said. The Canadian dollar's fall followed selling by at least one US company with a subsidiary in Canada which apparently decided
      180 words
    • Article
      Tokyo
      157 8 TOKYO, Thurs. The US dollar for overnight delivery closed lower In quiet trading at 283.30 yen compared with 283.70 at the opening and 283.40 at Wednesday's close, on expectations of a surplus supply of dollars next week, dealers said. The US unit initially rose to 283.80, as Japanese banks
      157 words
    • Article
      Hongkong
      137 8 HONGKONG, Thurs. The Swiss franc eased further In fairly active trading here to a late 2.5365/80 against the US dollar, compared with the 2.5338 mld-polnt New York close, dealers said. The mark also weakened In line with the franc to 2.3990/98 against the dollar from 2.3981 In New York.
      137 words
    • Article
      Minimum lending rates (in %)
      57 8 Minimum lending rates (in ACBC First Chicago 6^ Algemene Bank 6* Citibank Bangkok Bank .7* HSBC 7 Bank of America 6*. Indosuez OH Bank of China .7 Malayan Banking 6* Bank of Tokyo 6*. Mitsui Bank .6^ Bank Negara OCBC 8* Indonesia .7 OUB Chartered Bank UCB 7 Chase Manhattan
      57 words
    • Article
      Australia/NZ
      55 8 AUSTRALIA/ NZ exchanges quoted on Feb. 24. Australia: Sterling 0.6445/ 0.6374 US dollar 1.0976/ 1.0928 Ninety day air mail buying rates: Sterling 0.6704 US dollar 1.1226 Ninety day forward buying rates: Sterling 0.6549 US dollars 1.0933 New Zealand Sterling 0.5594/ 0.5563 US dollar 0.9601/ 0.9501 Ninety day forward rate:
      55 words
    • Article
      Zurich
      62 8 ZURICH exchanges closing quotes on Feb 23. US 2.5285 5293 UK 4.3175 3200 Can 2.4475 4490 W Germ 105.54 62 Neth 101.02 10 France 50.72 76 Belg 6 .87 88 Demn 42.93 96 Norw 47.90 93 Swed 59.78 83 Italy 0.2865 2868 Austria 14.85 87 Port 7.68 72 Spain
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    • Article
      Frankfurt
      32 8 FRANKFURT exchanges opening quotes Feb 24. US 2.4030/45 (2.3957/62) Can 2.3185/3205 UK 4.100/115 Neth 95.65/80 Switz 94.35/50 Italy 2.715/730 France 48.12/27 Norw 45.35/43 Belg com 6.505/520 Belg fin 6.51/53 Japan 0.8470/85.
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    • Article
      Eurobond prices
      247 8 LONDON, Thurs. Straight dollar bonds were largely unchanged in quiet trading, dealers said. Convertible bonds continued to trade very quietly with little change. Eurobond prices quoted on Feb 24 Struchti Bid Offer Alcan 9*Pc 1988... 104* :os* Bfce 8SPc 1983 101 102 Brascar, 9*Pc 102* 103* Charbonnage 8*Pc
      247 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      80 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times I BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) I ->*§- BUSINESS TIMES Subscription Form Address:. Payment tor is enclosed All subscriptions are payable in advance and should be
      80 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      A year of mixed fortunes for the travel trade
      1582 9  -  By LAI WAI KUAN IT HAS been a year of mixed fortunes for those engaged In Malaysia's travel Industry In 1976. The Tourist Development Corporation's (TDC) promotion trip to Japan has shown signs of bearing fruits; on the other hand, the
      1,582 words
    • Article, Illustration
      IN PORT
      399 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Raya (1500 after Rlnoula Turkmenlya) (Must head East) 31/32. Cherry VUJa (B. Barge) (0800) 48 Golden Eastern (0600 after Andhlka Pusplta hauls) 24 Golden Source (0600 after Samson) 23 Lelderkerk (0700 after Aleksandr Seraflmovlch) 10/11 Lumut (2100 after Kenlngau) 20 West Rajah
      399 words
    • Article
      Tighter control of tour firms planned
      557 9 THE Tourist Development Corporation Is arming Itself with wider powers to deal effectively with "fly-by-nlght" tourist agencies. These regulations, to be known as the Tourist Development Corporation (Registration ana Control of Tourist Agencies Regulations, 1977, will come Into iforce by September, Enclk Abdullah Junld,
      557 words
    • Article
      MAS may fly a second DC-10 to Amsterdam
      435 9 MALAYSIAN Airline System has picked Amsterdam as an alternative destination if steps to secure rights for its second DC-10 to enter London are not successful. In place of direct DC-10 flights to London, MAS will work out an agreement with one of
      435 words
    • Article
      Lock icon London freight market
      206 9 AP LONDON, Thurs. Chartering on the London freight market yesterday regained more normal proportions and contained a noticeably stronger Interest In Far East tonnage on a time-charter basis. Skjelbreds booked the 26,300-ton dw "K.Z. Mlchalos" at U554,300 (5510,535) per day for a March trip from Japan to
      AP  -  206 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      585 9 ARRIVALS Service Local Operator Number Time From OA OA472 0200 SYD/MEL MAS MH682 0810 KCH PAA PA841 0950 SFO/HNL/GUM JAL JL712 1000 HLP SIA SQ211 1010 HLP GIA GA980 1030 HLP GIA GA908 1100 MES PAL PR501 1115 MNL KLM KL833 1150 AMS/ATH/ KHI/CMB RBA BI325 1155
      585 words
    • Article
      Lock icon Cris's Swedish accent
      529 9 UPI THERE are 8.5 million defective general motors cars on the road that General Motors has been unable to locate and fix. GM has decided to enlist the aid of a talking computer with a decided Swedish accent to find the unsafe automobiles. Called Crls, for Computerized
      UPI  -  529 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      319 9 NEW DIRECTIONS The magazine that actually says what you have been thinking all along. New Directions quarterly was born in late 1973 and has since then quietly set about its task to enhance the intellectual climate in Singapore, to stimulate the spirit of debate and to cast light on major
      319 words
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  • Article, Illustration
    Lock icon A brain and brawn drain hits Sudan
    619 10  -  By LLOYD TIMBERLAKE Reuter SUDAN, in need of skilled manpower to realise its vast potential, is suffering a huge drain of brain and brawn to the richer Arab countries. With population of over 17 million and millions of hectares of arable land awaiting
    Reuter  -  619 words
  • Article
    Lock icon Patience pays off for nickel man Philip Jessup
    1321 10  - Patience pa ys off for nickel man Philip Jessup A USsBsom nickel-mining and smelting complex has got going on Sulawesi. DAVID ANDALMAN reports on the problems of the man in charge. DAVID ANDALMAN NYT EARLY IN 1967, 10 years out of his presidency of the West Brooklyn Reform Democrats, Philip
    NYT  -  1,321 words
  • Article, Illustration
    Lock icon Britain's ties with Ireland sink towards lowest point in years
    893 10  -  By ED BLANCHE AP RELATIONS between Britain and the Irish Republic are sinking toward their lowest point In years, say government officials on both sides of the Irish Sea. London and Dublin are locked In a string of legal, •security
    AP  -  893 words
  • Article
    Lock icon London takes its time, Zurich takes its turn
    808 10 The Economist. LONDON is still regarded as the centre of Europe's securities industry. But for how much longer? Last week Smith Brothers, i London's only remaining i Jobber in South African mining shares (kaffirs), asked the stock exchange to let it deal
    The Economist.  -  808 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      146 10 a BRIGHTER FUTURE in ACCOUNTANCY with FOULKS LYNCH Founded over a century ago, Foulks Lynch the specialists in accountancy education have tutored over 150,000 students around the world to success in the various accounting examinations. You too can be one of them. Now FOULKS LYNCH courses for the following examinations
      146 words
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  • Article
    Castrol's $3 mil plant to start rolling soon
    325 11 KUALA LUMPUR, Thurs. The Ms 3 million Castrol lubricant blending plant In Port Dickson will go on stream very soon producing about 90 per cent of the company's share of Malaysia's market for lubricating oil. The project, which Is established on a
    325 words
  • Article
    Lock icon Discount rate cut urged
    166 11 Reuter TOKYO, Thurs. Yoshlzane Iwasa, Vice-President of the Federation of Economic Organisations (Keldanren) called for a one per cent cut in the Bank of Japan's official discount rate to 5.5 per cent to stimulate business and speed up economic recovery. He told a news conference the
    Reuter  -  166 words
  • Article
    Lock icon HK to publish daily dollar rate index
    137 11 Reuter HONGKONG, Thurs. The Hongkong government said it will publish a dally trade weighted Index of the Hongkong dollar's exchange rate against 15 selected currencies. The Index is based on the central rates set under the Smithsonian agreement of Dec 18, 1971. Currencies
    Reuter  -  137 words
  • Article
    No runaway soil in this way
    176 11 VIBRATORY compaction of soils is one of the many processes being carried out by contractors preparing the new runways at Singapore's new international airport at Changl. This Involves the repositioning of soil particles to obtain compaction of the highest density on the runways through
    176 words
  • Article
    SMA TO HOLD S'PORE FAIR
    188 11 SINGAPORE Fair *77, organised by the Singapore Manufacturers' Association (SMA), will be held from Sept 23 to Oct 2 this year, with exhibits covering a wide range of locallymade products ranging from heavy machinery to textiles, garments and foodstuffs. The floor area of the exhibition
    188 words
  • Article
    Lock icon 'Sharp fall in Swiss franc is coming'
    133 11 Reuter NEW YORK, Thurs. The Swiss franc Is In the early stases of a devaluation that could carry It to between 30 and 34 US cents or lower In the next six to 12 months, Becker Securities director of research Mr. Paul Blaney
    Reuter  -  133 words
  • Article
    Lock icon Import curbs stepped up against Seoul goods
    157 11 UPI SEOUL, Thurs. Advanced nations intensified their restrictive moves against South Korean commodity exports during February, the Korean Traders Association said in a report published today. The association's "survey on economic trends In and around Korea" said such moves were noted in the
    UPI  -  157 words
  • Article
    Lock icon Cotton spinners bid to form a cartel
    426 11 STRATEGY TO BEAT SLUMP UPI TOKYO, Thurs. The Japan Cotton Spinners Association has decided to seek government permission to form a "recession cartel" for three months beginning April 1 to tide over the current business slump. The association In an emergency meeting held
    UPI  -  426 words
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    LANCER KEEN TO LIFT THE MART
    550 11 WITH the marine transport industry in Asia in the middle of a container revolution and Just about reviving up on a new one around the roll-on roll-off concept, Lancer Boss, a major UK lift truck manufacturer, Is making a beellne for the market. Speaking
    550 words
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    COURTS HAS DONE IT ON THE NEVER
    526 11 SINGAPOREANS will do well to learn from Courts, the furnishers, which after less than three years of operation, has built Its furniture hire-purchase business Into a most profitable one, sidelining major competitors In the process. Courts Is Interesting for two main reasons. It
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    Lock icon South Korea forecasts 10pc growth in GNP
    245 11 UPI SEOUL, Thurs. Cabinet Ministers In charge of economic affairs today adopted an overall resources budget for 1977, setting the annual Gross National Product (GNP) erowth at 10 per cent and planning annual commodity exp-rts worth US$lO billion ($24.5 billion). The resources budget,
    UPI  -  245 words
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    CIA head
    21 11 WASHINGTON, Thurs. The Senate Intelligence Committee yesterday unanimously approved Admiral Stansfleld Turner as director of the Central Intelligence Agency.
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    Lock icon Polls drive kicks off with no violence pledge
    302 11 Reuter JAKARTA, Thurs. Indonesia's three political parties today began a twomonth campaign for the general election with a pledge to keep out of violence for the sake of peace and order. Golkar, the militarybacked functional groups which won a landslide victory in
    Reuter  -  302 words
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    FEFC to meet KL shippers on hike
    265 11 KUALA LUMPUR, Thurs. The Far Eastern Freight Conference will be meeting the Malaysian Shipper* Council (MSC) on March 3 to discuss the proposed general rate increase, the FEFC representative Mr. W. J.V. Cook confirmed here today. Mr. Cook, however, did not elaboarate on
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    Lock icon Up ship prices order to yards
    209 11 Reuter TOKYO, Thurs. Japanese shipbuilders have been Instructed to raise their prices on all vessels to be built for overseas customers by at least five per cent on last year's figures, the Transport Ministry announced today. The instruction applies to all export orders contracted
    Reuter  -  209 words
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    Lock icon Opening of foundry
    80 11 Reuter ISLAMABAD, .Thurs. Prince Minister Zulflkar All Bhutto today Inaugurated Pakistan's first heavy foundry and forge, built with Chinese assistance at a cost of about US$46 million (SSII3 million). Mr. Bhutto described the project at Taxlla, (40m) east of Islamabad as a major state enterprise which would
    Reuter  -  80 words
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    Lock icon Warning on Aussie inflation rate
    203 11 Reuter CANBERRA, Thurs. Federal Treasurer Phillip Lynch said Australia'* inflation rate could reach 18 per cent this year If the Arbitration Commission passes on the full six per cent consumer price Index for the fourth quarter of 1976 In wages and salaries. He told Parliament
    Reuter  -  203 words
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    Lock icon Marcos extends tax exemption for sugar mills
    280 11 Reuter MANILA, Thurs. Phlllplnes' President Marcos said all Imports connected with the building and operation of new sugar mills would be exempt from taxes until June 30, 1980. In Issuing his letter of Instruction, the President said the move would "further enhance the
    Reuter  -  280 words
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    Lock icon Aussie sugar talks in Tokyo resume
    163 11 Reuter TOKYO, Thurs. Japanese sugar refineries will resume talks with a visiting Australian negotiating team today to discuss a Japanese request for a price cut in raw sugar being supplied to Japan under a long-term contract, the Japan Sugar Association said. The association said
    Reuter  -  163 words
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      398 11 APPOINTMENTS HHBFOIE a»UWV 1 EnBHEBWB M.(FTE) UD J/j (A Wholly owned subsidiary of Keppel Shipyard Limited) INVITES application from suitably qualified persons for the following appointments. SENIOR APPOINTMENT (A) Senior Draughtsman (Electrical) (B) Senior Draufhtsman (Hull) (C) Senior Draughtsman (Mechanical/Piping) Applicants for the abovementioned appointments must have a minimum of
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      508 11 A large Paper Manufacturing Company and related products invites applications for a PRODUCTION MANAGER 't- mi' nfjpOftl.Wlllrlj 1. to regulate and co-ordinate production schedule; to develop and advise on cost control, inventory control and production record system; 2. he will have direct control over operating and quality control personnels and
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    Is a law good or adequate? Chua names acid test
    374 12 THE acid test of whether a law is good or adequate is whether It Is effective In achieving a good social end. It should not be Judged on the basis of some preconceived hypothetical concepts of what is equitable or
    374 words
  • Article
    BUDGET DAY
    174 12 THE budget for fiscal *****8 will be presented to Parliament by the Finance Minister. Mr Hon Sul Sen next Monday. Parliament has been adjourned until then, after the. completion of debates on the Presidential AdttSsss.. In his summing-up address, Dr. Chiang Hal Ding, MP for Ulu Pandan, commented
    174 words
  • Article
    Leong tells of overthrow plot
    255 12 SECRETARY-GENERAL of the People's Front, Leong Mun Kwal, has confessed to being Involved in a plot to topple the Singapore Government. Leong, who Is now serving an 18-month sentence for criminal libel, has implicated a Malaysian politician and officers of the Malaysian Special Branch In
    255 words
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    LONDON STOCKS
    796 12 LONDON Thurs. The stock market closed narrowly mixed after a quiet session and at 3 p.m.. the Financial Times Index was up two points at 404.1. ICI'« results were much In line with expectations but end-account profit-taking made for a mixed trend among leaders, dealers said. Government bonds
    796 words
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    Lock icon 'KHMERS OPEN FIRE ON THAIS'
    277 12 AP BANGKOK. Thurs. Cambodian troops invaded Thai territory Inst night and opened fire on 15 Thai border policemen manning defence outpost. Thai officials said today. They said the attack occurred near three village* that were attacked last month. A spokesman for the border police headquarters
    AP  -  277 words
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    Midway gets bank's notice
    160 12 ASSOCIATED Merchant Bank (AMB) has notified Midway Silicate Brick, local manufacturers of tiles, pottery, and terracott that It is to be put Into receivership. On Monday, the merchant bank appointed Mr. Philip Grundy and Mr. Thai Chee Ken of Price Waterhouse to be receivers and managers
    160 words
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    Aircon design
    56 12 THE lAC Group, distributors of Carrier air conditioning equipment and systems, will conduct a sixweek alrcondltlonlng system design course from March 1 to April 9 at its training room in Leng Kee Road. The course, which covers all aspects of design and equipment selection, is open to Carrier
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  • Article
    Philips sues
    45 12 PHILIPS Singapore filed four separate suits Involving sums amounting to $598,445 at the High Court here yesterday. The petitions were taken against RE Morris and Tan Hong Moh, Ng Toh 800, Peter Ng Toh 800 and Goh Hwee Hee, and International Electronics Emporium.
    45 words
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    Rasu injunction is discharged
    197 12 THE High Court of Justice In London has vacated an Injunction against Pertamlna, the Indonesian State oil company, which was obtained ex parte earlier this month by Rasu Marltlma, S.A. Rasu obtained the Initial Injunction on Feb 7 to restrain Pertamlna from removing property from the
    197 words
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    Talk on job enrichment
    41 12 A SEMINAR on Job enrichment will be conducted by Consulasla in association with the Singapore Institute of Management on March 2 and 21. Miss Lynda K. Taylor, who arrived in Singapore yesterday, will be the principal speaker.
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    Falling orders in printing spark a scramble
    634 12 THE printing Industry In Singapore Is in bad shape. For the more than 400 existing firms, both large and small, there are not enough Jobs to go around, and this excess capacity has resulted in severe competition in the domestic market. Last year,
    634 words
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    Lock icon Ministers lay stress on unified action
    790 12 ASEAN ANNIVERSARY MEET Reuter MANILA, Thurs. Foreign Ministers of the five Asean nations today urged unified political and economic action, especially in relations with Indochina, Japan, the European Economic Community, the United States, Australia and New Zealand. They made their call In speeches at
    Reuter  -  790 words
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    Insurance cover a must for big ships using straits
    521 12 ALL tankers and large vessels navigating through the Straits of Malacca and Singapore must have adequate coverage by insurance and compensation schemes, It was decided at yesterday's meeting of the Foreign Ministers of Indonesia, Malaysia and Singapore, In Manila. This Is
    521 words
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    WHY PEOPLE AREN'T READY FOR WORK
    382 12 A PRODUCTIVITY expert, Mr. Kenneth K.C. Mok, has criticised educational Institutions for their failure to prepare people properly for the working world. Mr. Mok, deputy director, productivity services, of the National Trades Union Congress said: "All too often, the knowledge they acquire has no
    382 words
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    Lock icon Bid to turn group into military bloc: Pravda
    136 12 AP MOSCOW, Thurs. Pravda said today "Imperialistic forces" are stepping up efforts to transform Asean Into a military bloc. A commentary by Vsevolod Kalinin, titled "By Hook or Crook," quoted calls by officials of Asean nations for Increased attention to defence needs.
    AP  -  136 words
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    Lock icon TOKYO TIES HIGH ON AGENDA
    280 12 Reuter MANILA, Thurs. Foreign Ministers of Asean held a cloeed session here to consider the question of improving economic ties with Japan as well as general ways of straightening the 10-year-old Organisation. The one-day meeting was called to mark the anniversary of the first Asean
    Reuter  -  280 words
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    Lock icon Coming to region
    79 12 UPI TOKYO, Thurs. A ranking Japanese government official Is scheduled to leave this weekend for a trip to the five nations of Asean, government sources said today. The official is Mlnoru Masuda, councillor at the Ministry of International Trade and Industry (Mltl). He is expected to leave
    UPI  -  79 words
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    Time ripe for setting up centres to service MSE
    444 12 JOHORE BARU, Thurs. Public Enterprises Minister Datuk Hajl Mohamed Yaacob today said that the existence of the Malaysia Shipyard and Engineering Sdn. Bhd., (MSE) here will encourage the establishment of supply and other services to the yard. He said that such
    444 words
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    CK Tang gets green light
    126 12 C.K. Tang departmental store has been given the green light to construct a new multi-million dollar building next to Its present premises In Orchard Road. The details of Its plans however, are still being worked out with the Government. The building will have more than
    126 words
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    Traffic is busier
    183 12 SHIPPING movements along the Straits' of Singapore increased 6.9 per cent to 4,213 last October from 3,940 in October 1975, according to a traffic density survey conducted Jointly by the Port Master's Department, Port of Singapore Authority and the Marine Department. Freighters accounted for 59.4 per cent
    183 words
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    Deutz gets second order
    104 12 DEUTZ Far East, the Sin-gapore-based German dlesel engine specialist, have secured a second multl-mllllon dollar contract with the Burmese Government to supply 23 marine aiesel engines for Installation aboard self-pro-pelled power barges which are being built for them by a consortium of shipyards In Singapore. The
    104 words
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      86 12 Texas Instruments*^ BUTTLE PROFESSOR A FUN WAY FOR CHILDREN AGE 5 AND UP TO PRACTICE BASIC MATHEMATICS FACTS 4 e s kmI&ZS 9 V s 91 Bonus Activity Booklet "Fun with Maths Facts", an exciting booklet with problems, pictures and activities for children, plus helpful hints for parents. VAIIS OMICt
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