The Business Times, 3 March 1977

Microfilm: NL9063
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 THURSDAY, MARCH 3, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Lock icon KL team for Manila
      95 1 Reuter MANILA, Wed. A 21-member Malaysian trade mission Is to arrive here on Sunday on a four-day visit to look Into the country's trade and investment potentials, the Federation of FilipinoChinese Chambers of Commerce said today. A federation spokesman said the mission comes from the Associated
      Reuter  -  95 words
    • Article
      Lock icon HK budget surplus
      50 1 Reuter HONGKONG, Wed. The Hongkong government today predicted a HK$B5O million (***** million) budget surplus for the 1976-1977 financial year and proposed concessions on Income and property taxes. The tax concessions, totalling $127 million, Include an increase in personal and child allowances for salaried tax payers. Reuter.
      Reuter  -  50 words
    • Article
      Lock icon $245m Saudi contracts
      69 1 AP NICOSIA, Wed. Saudi Arabia has awarded roadbuilding contracts totalling US$lOO million (Ss24smillion) to unspecified International firms during the past 10 days, the Saudi Gazette newspaper reported today. One set of contracts, worth about $45 million, includes a 60km road to link the southern Saudi area of
      AP  -  69 words
    • Article
      Lock icon Euro-Red summit
      43 1 AP MADRID, Wed. Communist party leaders Georges Marchais of rrance and Enrico Berlinguer of Italy arrived in Madrid today for a euro-communist "summit" meeting with Spain's Santiago Carrlllo, the first international communist gathering in Spain since the 1930s Civil War. AP.
      AP  -  43 words
    • Article
      Gold is riding high
      53 1 GOLD rose to Its highest price in nearly a year and a half in Europe, in advance of the International Monetary Fund's seventh regular gold sale. The London bullion market fixed the price at US$l44.90 the highest level since the Nov. 7 1975 opening price of
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    • Article
      Lock icon Rhodesia walkout
      54 1 UPI SALISBURY, Wed. Nine members of Prime Minister lan Smith's Rhodesian Front Party walked out of a parliamentary meeting today to protest Mr Smith's plans to amend some discriminatory racial laws. The walkout, a political rebellion in the ranks, Included the Deputy Minister in the Prime Minister's Office,
      UPI  -  54 words
    • Article
      Lock icon Iran oil exports up
      43 1 AP TEHRAN, Wed. Iran exported 5,698,507 barrels of crude oil and refined products daily in February, 30.4 per cent more than in January and 29.9 per cent more than in February 1976, the National Iranian Oil company announced. AP
      AP  -  43 words
    • Article
      Lock icon Dept of Energy
      39 1 Reuter WASHINGTON, Wed. President Carter today proposed a new Department of Energy as the first step in a programme to end energy waste and reduce oil Imports through conservation and development of domestic fuel resources. Reuter.
      Reuter  -  39 words
    • Article
      Lock icon Marcos rice
      32 1 UPI MANILA, Wed. A new rice variety, which performs well In areas with low temperatures and high altitudes, has been named "Marcos 1" in honour of Philippine President Marcos. UPI
      UPI  -  32 words
    • Article
      Lock icon Dow Jones
      42 1 UPI NEW YORK, Wed. Dow Jones averages, based on first hour of trading on the New York Stock Exchange: 30 Indus 946.14, up 1.41; 20 transp 224.19, up 0.44; 15 utlls 105.92, up 0.25; 65 stocks 308.79, up 0.55. UPI
      UPI  -  42 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      182 1 TRADING remained generally sluggish at the Stock Exchange of Singapore yesterday, with declines outnumbering gains. On the option board, premiums were narrowly mixed. Reflecting the lacklustre trading, the Business Times and Straits Times Industrial indices were fractionally lower at 261.43 and 252.44 respectively. The Kuala Lumpur Stock
      182 words
  • Article
    Stepped-up plans for land development
    968 1  -  EMPHASIS STILL ON HOUSING ■y JOHN TAN QUEK PECK LIM THE Government Intends to spend 40 per cent more this fiscal year on land acquisition for development. The stepped-up programme Is also indicated by the 28 per cent Increase In allocations to the National Development
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  • Article
    $60 m — the only clue to govt borrowing
    304 1 $60 m the only clue to govt borrowing THE only indicator of the volume of new loans the Government expects to raise in the current fiscal year is the amount provided for interest payments In 1977. In the memorandum on the main and development estimates for Fiscal Year 1977, a
    304 words
  • Article
    Lock icon Pricing resolution to go before ITC
    372 1 Reuter NEW YORK, Wed. South-east Asian tin producers and Bolivia have agreed to present to the International Tin Council (ITC) a resolution for the establishment of "a periodic review and a systematic approach" to determine an updated floor and celling tin price range that
    Reuter  -  372 words
  • Article, Illustration
    Make the first move, envoy tells Asean
    277 1 AMERICA Is prepared to enter Into economic consultations with the Association of South-east Asian Nations (Asean) to help efforts towards regional cooperation, but the initiative must come from Asean. This was stated last night by the US Ambassador to Singapore, Mr. John Holdrldge,
    277 words
  • Article
    KL plans to tap Asian dollar mart
    173 1 MALAYSIA Is planning to raise its first loan from the Asian dollar market In Singapore. Morgan Guaranty Trust has been appointed by Bank Negara Malaysia to lead a syndicate of banks In raising a US$lOO million seven-year floating rate loan for the Malaysian
    173 words
  • Article
    Lock icon U.S. ECONOMIC BOOST WILL BENEFIT OECD
    252 1 UPI PARIS, Wed. The heating up of ths US economy should boost activity In the entire Industrialised world, resulting In a high growth rate In 1977 than originally predicted, economic experts announced today. The Economic Policy Committee of the Organisation for Economic Cooperation and
    UPI  -  252 words
  • Article
    Surprise 'yes' by Thai Zinc to proposal
    289 1 BANGKOK, Wed. In a surprise move, Thai Zinc Company has agreed in principle to a final proposal by the Government to begin mining zinc in Thailand, a company spokesman said today. The company, a subsidiary of New Jersey Zinc, was reported several days
    289 words
  • Article
    Quotas on textiles
    27 1 THE Trade Department has announced textile export quotas for France, Italy, Austria and the US, and has invited local exporters to apply for allocations.
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  • Article
    Cargo will be checked here if necessary
    356 1 THE Far Eastern Freight Conference (FEFC) in a firm reply to the Singapore National Shippers' Council (SNSC), said yesterday It recognises that If permanent cargo control machinery Is found to be necessary in Singapore, physical checks will be made here. The statement follows
    356 words
  • Article
    Japan govt to sink $600 m in complex?
    221 1 THE Japanese Government Is reported to have agreed to take 60 per cent of Sumitomo Chemical's $1 billion stake In the $2 billion petrochemical complex planned for construction at Pulau Ayer Merbau. If true, this decision removes the last major obstacle to
    221 words
  • Article
    Lock icon COMMON FUND MEETING
    63 1 UPT GENEVA, Wed. Rich and poor nations completed preparations today for negotiations on a proposed common fund to stabilise markets in primary products. Unctad, the UN trade and development organisation, proposed that the fund totals US$6 billion (SSIS billion) with the money mainly being used to finance
    UPT  -  63 words
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      44 1 Colour TV is simply great INSIDE Newi/rv Radio P2 Commodities P8 News/Features P3 Transport 4 CommuLoca 1/1 n terna tional Co nicationa PS news P4 Features PlO Local atocka M Local Overseas news PI 1 Overseas stocks P7 Local A Overseas news Pl 2
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    • Advertisement
      Page 1 Advertisements Column 2
      96 1 Increase your Industrial Take advantage of Hong Leong's Industrial Hire Purchase service. To buy valuable machinery or equipment without tying up too much capital. Hong Leong has a range of flexible plans to meet every company's requirements. Terms are reasonable and interest rates are kept low. And repayments can be
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      3 1 SEE BACK PAGE
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      90 1 ;^(-];?|!($=-/,",[*_>?%_%_`(=+< rtgm-ri- 'I'i'itf' Super TriStar Service to Hong Kong, and on to Taipei ana Tokyo. Cathay Pacific introduces daily Super TriStar flights to Hong Kong, and on to Taipei and Tokyo, departing Singapore at 11.20 am. Call your Travel Agent, or Cathay Pacific at ***** for Super TriStar reservations. Super
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  • OVERSEAS
    • Article
      Lock icon Growth of 16pc bears out HK forecast
      591 2 Reuter HONGKONG, Wed. Financial Secretary Philip Haddon-Cave said preliminary estimates of Gross Domestic Product (GDP) for 1976 show real growth of 16 per cent, as predicted by the Government late last year. This estimate, which would be 15 per cent If stock building
      Reuter  -  591 words
    • Article
      Lock icon 'Mark-dollar ties will hold steady'
      200 2 Reuter HONGKONG, Wed. Mr. Hans Wuttke, Dresdner Bank board member responsible for International operations, said the bank believes there are no fundamental reasons to expect wider fluctuations between the mark and the US dollar In the foreseeable future than In the past. Mr. Wuttke Is
      Reuter  -  200 words
    • Article
      Lock icon Review of Japan, China trade
      112 2 Reuter TOKYO, Wed. China and Japan opened a three-day meeting here today to 1 review economic and trade i relations between the two < countries. This was the second j meeting of the Japan-China 1 Mixed Trade Committee, created under the 1974 Bilateral Trade Agreement.
      Reuter  -  112 words
    • Article
      Lock icon Forex trading in new escudo rates
      135 2 AP LISBON, Wed. Foreign exchange trading in the Portuguese escudo resumed yesterday when banks opened with new rates reflecting a 15 per cent cut In value against major world currencies. The escudo was devalued on Friday as part of the economic austerity measures and
      AP  -  135 words
    • Article
      Lock icon Oil firms defy UN sanctions against Rhodesia charge
      263 2 Reuter LONDON, Wed. Britain's Labour government will be asked to investigate allegations that oil from two major companies, British Petroleum and Shell, had been supplied to Rhodesia in defiance of United Nations sanctions. The allegations came in a report commissioned by the
      Reuter  -  263 words
    • Article
      Lock icon RABIN IS URGED NOT TO GIVE ANY PLEDGE TO CARTER
      234 2 UPI JERUSALEM, Wed. Right-wing opposition leader Menahem Begin called on Prime Minister Yitzhak Rabin to refrain from making commitments on future MiddleEast borders during his forthcoming trip to the United States. "We are calling on the head of the minority
      UPI  -  234 words
    • Article
      Wage rise
      40 2 WELLINGTON, Wed. The Wage Tribunal today awarded New Zealand a six per cent wage Increase effective from March 14. The Tribunal said the award would cause no more than a 2.3 per cent increase in consumer prices.- Reuter.
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    • Article, Illustration
      Lock icon Now it's the Left's turn to come under fire
      1682 2  -  By DAVID WATT FT LONDON: The counter attack against the Left within the Labour Party Is now gathering momentum; and while this phenomenon has been predictable, and predicted, the turn of events since the New Year has been sufficently marked to
      FT  -  1,682 words
    • Article
      Lock icon Carter move to check overseas arms deal
      329 2 UPI WASHINGTON, Tues. In his search for ways to tighten control over arms sales, President Carter Is considering a proposal to forbid US arms manufacturers from making deals overseas without getting Oovernment approval first, according to Oovernment sources. The proposal is one of
      UPI  -  329 words
    • Article
      Lock icon OK for Japan fishing
      256 2 AP TOKYO, Wed. The government authorised scores of Japanese fishing boats off the US coasts to resume fishing operations this morning after the United States sent word of ratification of the JapanUS bilateral fishery agreement, officials said. The ratification gave the green light for the 42
      AP  -  256 words
    • Article
      Lock icon Crew ousted in 'coup'
      257 2 UPI LE HAVRE, Wed. A boarding party of 30 batonwaving British seamen In crash helmets seized the strike-bound tanker Globtlk Venus early today In a commando-style operation. The 28 striking Filipino crewmen, who had seized the tanker and its 50,000tonne cargo of crude oil on Feb.
      UPI  -  257 words
    • Article
      Lock icon Britain pushing ahead with nuclear plant?
      331 2 AP LONDON, Wed. British nuclear authorities said yesterday they have submitted plans to build a controversial nuclear fuel reprocessing plant In England's windswept Lake District. British Nuclear Fuels, which Is state-owned, said It submitted the plans to the local district council as a first
      AP  -  331 words
    • Article
      Lock icon Doing all one's shopping by computer
      247 2 AP WASHINGTON, Wed. A US study commission says computerised ways of transferring money could provide major benefits to consumers, although consumers are uneasy about the emerging technology. The Commission on Electronic Funds Transfers said yesterday that electronic devices are available that can transfer money
      AP  -  247 words
    • Article
      Lock icon Krugerrand sales are down
      95 2 Reuter CAPE TOWN, Wed. Krugerrand sales fell by 250.31 million rand to 342.54 million during 1976, South African Finance Minister Owen Horwood told Parliament. Mr. Horwood said income from overseas sales of Krugerrand amounted to 329.42 million rand at an average price of 60 rand, compared
      Reuter  -  95 words
    • Article
      Lock icon Reflation can't come by classic means, say Germans
      424 3 Reuter PARIS, Wed. German delegates told the OECD Economic Policy Committee meeting they do not believe general reflation can be achieved through classic economic measures such as fiscal stimulus because businessmen and unions no longer accept that it will work, conference sources
      Reuter  -  424 words
    • Article
      Lock icon Pay rise is recommended for Israel's conscripts
      112 3 Reuter JERUSALEM, Wed. A special Parliamentary committee set up to study army pay today recommended a 50 per cent pay increase for Israel's conscripted soldiers. The committee recommended that men and officers serving their threeyear military term should receive 320 Israeli pounds (Ss7B)
      Reuter  -  112 words
    • Article
      Lock icon US firmsn new conditions for S. Africa
      265 3 Reuter WASHINGTON. Wed. Eleven large US firms have given the South African Government a list of conditions they plan to implement in their South African operations to improve the working and social conditions of black and other nonwhite workers. The conditions, covering hiring,
      Reuter  -  265 words
    • Article
      Lock icon Jenkins: EEC should admit Portugal to help democracy
      412 3 UPI PARIS, Wed. Roy Jenkins of Britain said yesterday the European Common Market (EEC) should support Portugal's application for membership to help keep democracy alive there. He said he expected Spain to be the next Common Market member after Portugal. But Mr.
      UPI  -  412 words
    • Article
      Lock icon Workers' rights on ILO agenda
      200 3 Reuter GENEVA. Wed. The Governing Body (executive) of the International Labour Organisation (ILO) including representatives of governments, employers and workers began a four-dav meeting here today to discuss workers' rights and conditions throughout the world. The ILO budget for the next two years Is also
      Reuter  -  200 words
    • Article
      Lock icon Abandon free trade stance, Carter told
      210 3 AP WASHINGTON. Wed. President Carter was urged yesterday to abandon the "free trade" stance taken by previous administrations In opposing legislation requiring that a share of US oil Imports be carried in American vessels. "If President Carter meant his campaign statement espousing a strong
      AP  -  210 words
    • Article
      Support for loans to New York City
      150 3 WASHINGTON, Wed. President Carter said he was in favour of extending temporary federal loans to New York City, possibly for five to six years. But he said the city, New York State and local banks and labour unions would have to work out
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    • Article
      Lock icon Warning sign
      40 3 AP WASHINGTON, Wed. Starting on April 3, all US airline ticket counters and travel agent offices must display signs warning airline passengers of the risk of being dumped from a flight, the Civil Aeronautics Board ruled yesterday. AP
      AP  -  40 words
    • Article
      Lock icon German banks seek to increase foreign business
      365 3 FRANKFURT, Wednesday Reuter MAJOR West German banks, looking Increasingly abroad rather than at home for future profit growth, are ready to expand foreign business again this year, after making record profits from foreign activities in 1976, senior bankers told Reuters. The main Impulse
      Reuter  -  365 words
    • Article
      Lock icon Iraq celebrates takeover
      196 3 AP NICOSIA, Wed. Iraq marked the fourth anniversary of its nationalisation of the Westernowned Iraq Petroleum Co. yesterday by inaugurating a 523-km oil pipeline from Baghdad to the Gulf port of Basrah, the Iraqi news agency reported. The ceremony was attended by Oil Minister Tayih Abdul Karim
      AP  -  196 words
    • Article
      Lock icon UK oil boosts EEC output
      67 3 Reuter LUXEMBOURG, Wed. Common Market crude oil production doubled to a provisional 21.3 million tonnes In 1976 due to a strong boost In the oil flow from the British sector of the North Sea, the EEC Statistics Office said. British oil production rose to 12
      Reuter  -  67 words
    • Article
      Lock icon 'Swiss franc's drop is overdone'
      374 3 Reuter ZURICH, Wed. Swiss National Bank president Fritz Leutwller said the current decline of the Swiss franc appears an excessive reaction to a published forecast last week the franc could weaken to 30 US cents In the next 12 months. He told Reuters he was
      Reuter  -  374 words
    • Article
      Lock icon Opec aid fund doubles
      271 3 UPI VIENNA, Wed. The Organisation of Petroleum Exportlng Countries has doubled Its special fund for assistance to developing nations and may withdraw the five per cent oil price Increase scheduled for July 1. The special fund decision was the result of a two-day meeting of Opec
      UPI  -  271 words
  • Page 2 Advertisements
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      76 2 FRENCH TECHNICAL EXHIBITION Pekan Raya JAKARTA. 26 March 3 April 1977. For Any Information please contact: The French Trade Commissioner Wisma MPI, 10th floor P.O. Box 575 Kuala Lumpur Tel. ***** The French Trade Commissioner 404 Thong Teck Building 15 Scotts Road Singapore 9 Tel. *****4/*****1 THE WHEELS ARE TURNING
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      45 2 WEATHER report for 24 hour* prior to 7.30 p.m. on March 2 at Singapore airport. Maximum temperature 31.0° C Aaeodated humidity 77 Minimum temperature 23.3° C Aaeodated humidity M Hours of sunshine 5.10 Total rainfall for the month 12. Total rainy days for the month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      348 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Housewives' Matinee "Scholar With A Halo" (Chapter 2) (r) Pt. 1 of a Teochew Film 3.45 General Hospital 4.30 Intermission 6.00 P.M. Opening Announcements followed by Elephant Boy "Horn Of Plenty" 6.30 News in Brief 6.35 Tadika (Malay) (r) 7.05
      348 words
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      286 3 Which bank works for you around the clock, and around the world? We do. Bank of America. Today, when world-Aide money markets and exchange rates change rapidly, the ability to make on-the-spot decisions quickly is more vital than ever. That's why our internationally known man-on-the-spot service never takes time out
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  • COMPANY NEWS
    • Article
      Setback at Central Securities
      451 4 CONTRARY to Its expectation of further improvement, group pre-tax profit at Central Securities (Holdings) has dropped 22 Er cent to M 52.78 million In e first six months ended Nov 30, 1978. Group turnover, Including sales of Its associated companies, fell nine per cent to $22.8
      451 words
    • Article
      Alcom hit by price hike
      405 4 A BIG increase In the base price of Imported aluminium was the main reason for the 20 per cent decline In the earnings of Aluminium Co. of Malaysia for the year ended Dec 31, 1976. Pre-tax profit tumbled to $847,000 from $1.05 million in 1975.
      405 words
    • Article
      RUBBER OUTPUT FOR JANUARY 1977
      68 4 Austral Enterprises 39,916 Ayer Molek Rubber 87,457 Benta Plantations 228,000 Buklt Katil Rubber 46.947 Castlefield 275,786 Consolidated Plantations 2,601,000 55,339 Golden Hope 1,255,512 668.000 110,678 Hongkong (Selangor) 31,752 Inch Kenneth Kajang 134,712 625,000 Killinghall (Rubber) 30,391 289.394 Kuala Selangor 89,812 KundongTanJongPau 148,462 74,693 London Asiatic
      68 words
    • Article
      PEOPLE IN BUSINESS
      116 4 NEW Straits Times has appointed Encik Zakuan bin Mohamed Ariff, 38, as managing director. Encik Zakuan, who joined New Straits Times as a printing supervisor In 1970, was appointed assistant to the managing director in October last year. He became an associate member of the Institute of
      116 words
    • Article
      DIVIDENDS ANNOUNCED
      217 4 Current Ex Date Total for Total for payment Date payable the year previous year Strait* Times 27.5% Feb 11 Mar 3 27.5% 1 Times Publishing 17.5% Feb 11 Mar 3 27.5% 25% M. Tobacco 35% Feb 7 Mar 18 50% 40% Wilkinson Process 15% Mar 7 Mar 24
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    • Article
      Rahman Hydraulic dividend boosts Mineral Securities
      273 4 AN increase in the amount of final dividend received from its Investment In Rahman Hydraulic helped to boost Mineral Securities' Interim profit by 57 per cent to M 5479,100. Rahman Hydraulic paid a final dividend of 15 per cent which was unchanged from the
      273 words
    • COMPANY MEETINGS
    • Article
      Lock icon 'Strategists' move in
      712 4  -  WALL STREET By VARTANIG VARTAN NYT A FEW years ago. Investing In the stock market was a relatively simple process. A Kerson called a broker and ad some advice relayed from the research department and then proceeded to buy or sell a stock. Nowadays, many brokerage houses
      NYT  -  712 words
    • Article
      Lock icon Unilever profit growth slackens
      414 4 Reuter LONDON, Wed. The slowdown noted in the third quarter at Unilever continued at a faster pace In the last three months of 1976. Combined pre-tax profit for the fourth quarter rose by only 10.8 pier cent to £120.8 million (£lO9 million) compared with the 31
      Reuter  -  414 words
    • Article
      Lock icon Volvo undecided on US manufacturing plant
      237 4 Reuter ZURICH, Wed. Volvo has still not made a final decision on Its proposed project to establish manufacturing capacity In the US because of the dull market both there and In Europe In 1975 and 1976, Mr. Pehr Oyllenhammar, company chairman, said. Speaking at
      Reuter  -  237 words
    • Briefly
      • Article
        BNDE
        72 4 FRANKFURT, Wed. The 100 million mark Eurobond issue for the Brazilian state-owned development Banco Naclonal do Desenvolvlmento Economlco will probably carry an per cent coupon, with terms expected to be fixed on March 14, lead manager Commerzbank said. Bond holders can call for repayment at par after the sixth
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      • Article
        Beatrice Foods
        55 4 CHICAGO, Wed. Beatrice Foods has increased the quarterly dividend to 24 US cents a share from 21 cents, payable on April 1 to shareholders on record on March 11. "This Increase reflects the confidence of the directors and senior management in the continuing profitable growth of the company,"
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      • Article
        Norpipe
        59 4 LONDON, Wed. The Norpipe AS US$5O million 8* per cent 12-year Eurobond was priced at 99% per cent, joint lead manager NM Rothschild and Sons said. A sinking fund is expected to bring the average life of the issue down to 9.6 years. Other Joint managers of the issue
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      • Article
        Ricoh
        66 4 TOKYO, Wed. Ricoh said It will offer 150 million shares for public subscription at a price to be fixed later, with payments required by the end of May. It said It will also make a one-for-10 scrip Issue to shareholders at the end of this month. As a result.
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      • Article
        EIB
        41 4 FRANKFURT, Wed. The European Investment Bank plans a USSISO million three-tranche Eurobond, bond market sources said. The tranches will be between seven and 15 years maturity. Other details have still to be fixed. Deutsche Bank was named as lead manager.
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      • Article
        G Motors
        55 4 DETROIT. Wed. General Motors Corp said vehicle production In the US and Canada rose to 577,974 In February from 545,108 In February 1976. Car output rose to 451.028 from 424,568 and commercial vehicles to 126.946 from 120.540. Year-to-date car output rose to 910,021 from 847,062. Commercial vehicles output
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      • Article
        Chrysler
        24 4 DETROIT, Wed. Chrysler Corp said It produced 112.528 cars In Its US and Canadian plants last month, down from 128,656 In February 1976.
        24 words
    • Article
      Lock icon Bancal rejects Standard Chartered bid
      131 4 Reuter NEW YORK, Wed. Bancal Trl-State directors unanimously rejected an offer from London-based Standard and Chartered Bank to acquire all the company's assets, the chairman, Mr. Chauncey E. Schmidt said. He said that after a study of the company, whose principal subsidiary Is Bank of
      Reuter  -  131 words
    • Article
      Lock icon Woolworths 1977 expansion
      93 4 Reuter NEW YORK. Wed. FW Woolworth said It will open .315,870 sq. metres of new retail selling space In the US. Canada, Germany, Spain and Australia during 1977. The company said In a statement this will add 240 woolworth, Woolco, Richman and Kinney outlets to Its consolidated
      Reuter  -  93 words
    • Article
      NK Mines
      31 4 PERTH, Tues. North Kalgurll Mines has suffered a consolidated operating loss of A 56,000 In the first half-year ended Jan 11. 1977, compared with a deficit of $164,000 previously.
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    • Article
      Lock icon Beecham buys Merck unit
      174 4 Reuter LONDON. Wed. Beecham Group said It reached an agreement to buy Merck's Calgon consumer products business for USSB2 million. Calgon operates mainly in the US and Canada and its chief products are toiletries, proprletry medicines, household goods and fruit preservatives. Beecham, a big drugs, food
      Reuter  -  174 words
    • Article
      Lock icon Komatsu suffers setback
      141 4 Reuter TOKYO, Wed. A drastic fall in exports has led to a 15.2 per cent drop in aftertax profit at Komatsu to 18.42 billion yen (21.7 billion yen) last year. Sales fell 12.6 per cent to 315.38 billion yen (360.85 billion yen). Komatsu Is maintaining the dividend
      Reuter  -  141 words
    • Article
      Asahi Optical
      74 4 TOKYO, Wed. Asahi Optical said It will privately place a US$lO million, 15year convertible Eurodollar bond with Yamalchi International (Europe), DUlion Read Overseas Corp, Bank Mees and Hope and Union Bank of Switzerland (Securities) at the end of this month. The loan will be Issued at par but
      74 words
    • Article
      Lock icon Japan likely to raise more funds in US
      383 4 Reuter NEW YORK, Wed. The Japanese Government and its agencies are likely to raise further funds in the US in the fiscal year beginning April 1 following the Nippon Telegraph and Telephone Public Corp's US$l5O million note and bond issue, Japanese official
      Reuter  -  383 words
    • Article
      Lock icon NatWest ups earnings
      314 4 Reuter LONDON, Wed. With steady growth In current account balances and higher Interest rates. National Westminster has enjoyed a 79.8 per cent Jump In pretax profit to £187.77 million (£104.44 million) last year. Earnings per share rose to 42.826p from 24.596p and the bank has raised the
      Reuter  -  314 words
    • Article
      Lock icon Woodsreef stake offered to CBA
      195 4 Reuter SYDNEY, Wed. Woodsreef Minerals of Canada has offered Commercial Bank of Australia (CBA) options to buy 13.71 million nominal 25 Australian cent shares in its listed Australian subsidiary Woodsreef Mines the two Woodsreef companies said In a Joint statement. The options are for shares
      Reuter  -  195 words
    • Article
      Lock icon ABC sales, profit up
      155 4 Reuter NEW YORK, Wed. American Broadcasting Companies, yesterday said Its dramatic gain in television ratings was largely responsible for gains In both sales and profit last year. For the fourth quarter of 1976. ABC reported a profit of US$24 4 million, or $1.36 a share. In
      Reuter  -  155 words
    • Article
      Fiat money problems over: Agnelli
      592 4 TURIN. Wed. Flat. Italy's giant car firm which last December completed a deal worth USS4IS million with the Libyan Government, now believes Its financial troubles are over. Flat boss, Mr. Gianni Agnelli, told Reuter that unlike last year, Fiat would be "paying dividends to shareholders
      592 words
    • Article
      Lock icon Amdahl takes on IBM
      718 4 Reuter NEW YORK, Wed. No matter how successful tiny Amdahl Corp has been In taking on huge International Business Machines Corp thus far and It has been quite successful the fact still remains that IBM holds Amdahl's fate very much In its corporate hands. It's a
      Reuter  -  718 words
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
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      122 words
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  • Article
    Share Information Service
    2128 6 HI, n%m rh u >w Company Lait Sale +0CGr'« div Div c'vr Gr'a y'ld Net P/E Vol C00Q) Day High Low SECTION ONE INDUSTRIALS 11 5* 1 33 Acma 140 12. ON 1.1 8.5 7.0 129 198 133 1 206 1 100 237 1 186 201* 204
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  • Article
    Shares suffer more losses in sluggish trading
    450 6 TRADING activity remained generally sluggish and the general trend was barely steady at the Stock Exchange of Singapore yesterday. Operators and the big investors were still nowhere in sight for want of fresh inducements. Throughout the day trading was mainly of a scattered
    450 words
  • Article
    Transactions in Singapore
    1144 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
    1,144 words
  • Article
    Unit trusts
    145 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' prices for Mar 3) (Current price*) INCOME BOND 1.10 1.18 The Commerce 1.78 180 The Saving Fund 0.92 0 07xd S pore Prog Fund 0.82 0.87 MARA BUMIPUTRA FUND S pore Security Fund 137 1.45 S pore Invest Fund 1.00 1.12
    145 words
  • Article
    Stock options
    134 6 STRIKING prices .of the stock options officially 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. D. B. S. (June 53.90) (0.23 1 B 0.245) (5) 0.24. F. AND N. (June
    134 words
  • Article
    Corporate bonds
    156 6 B O T 8 1/2% 1981 (100,000) (102*«B 103HS) D B S 8 1/2% 1982 (100,000) (1008 100 3 «S) DBS Converts 6 1/2% 1991 (100,000) (96V«8 97V„S) E I B 9% 1982 (100,000) (1038 104S) E I B 8 1/4% 1983 (100,000) (99 ''»B 100S) I J
    156 words
  • Article
    Domestic govt bonds
    111 6 5 1/2% 1/12/77 (1,000,000) (101.558 101.635) 5 1/2% 1/12/77 (500,000) (101.578 101.SOS) 5 1/2% 15/4/78 (1,000,000) (101.658 101.755) 5 1/4% 15/7/78 (1,000,000) (101.528 101.60S) 6 1/2% 15/8/78 (1,000,000) (103.358 103.505) 7% 1/7/79 (1,000.000) (104.858 105.008) 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)
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      406 6 THE GREAT BOOKS of the beautiful, durable bindings Is the fundamental Ideas of wMwM 118 ■■Rl UWI IBkI history, psychology, H ■■■■IB IWI Here In beautiful, durable bindings Is the whole record of the fundamental Ideas of mankind science, history, psychology, mathematics, theology, literature and poetry. This magnificent library provides
      406 words
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1045 7 NEW YORK: The stock market on Tuesday turned Monday's small advance Into Its strongest rally so far this year but volume remained sluggish. Most of the gains were registered In blue chip stocks which recently have come under heavy selling pressure. Some 19 million shares changed ownership in
      1,045 words
    • Article
      CHICAGO BOARD OPTIONS
      1427 7 On March 1 ON the Chicago Board Options Exchange volume was 102.206 contracts on Tuesday compared with 97,015 on Monday. The number of contracts on the upside were 521 compared with 39 on the downside. OPTION APL JLY OCT STOCK Alcoa SO 4 1/2 5 3/8 UNTRD
      1,427 words
    • Article
      Frankfurt
      305 7 FRANKFURT: Shares closed Irregularly lower, dealers said on Tuesday. In electrlcals however BBC gained one and Aeg rose 1.70 marks. Veba was 2.40 marks higher. Leading chemical shares rose between one mark and 1.70, led by Basf, but Sobering fell five marks. In the auto and engineering sectors BMW
      305 words
    • Article
      Amsterdam
      315 7 AMSTERDAM: Shares generally firmed on Tuesday. Uailever edged higher ahead of Its fourth quarter figures which came after hours while Hoogovens lost ground. KLM, Bola, GUt and Bi)»«karf were all higher while Insurances. shippings and banks were mixed. Middenstandsbaak fell after reporting higher 1970 final dividend and net profit
      315 words
    • Article
      Milan
      175 7 Milan: Stocks eased over a broad front in moderately active dealings. bourse sources said on Tuesday Montedison led Industrial and financial leaders lower with a 5.6 per cent drop to 303 lire following Monday's announcement of plans for a nine for 10 rights Issue at par value of 500
      175 words
    • Article
      Zurich
      310 7 ZURICH: The stock market closed mixed In continued quiet activity on Tuesday. Exportoriented shares such as CibaGiegy, Sandox and Nettie drew some support from the weakness of the Swiss franc. Elsewhere In the Industrial sector price changes were limited except Merkur, which rose sharply in a narrow market. Banks
      310 words
    • Article
      Jo'burg
      403 7 JOHANNESBURG: Oold shares moved off the top and were frequently easier ahead of the IMF auction and In line with declining overseas bullion indications, dealers said on Tuesday. Financial mlngs generally maintained earlier gains with Amgold featuring with a rise of 150 cents to 2.850 and Angloa 10 cents
      403 words
    • Article
      Paris
      345 7 PARIS: The market closed steady helped by the 1/8 point fall In the call money rate to 913/16 per cent dealers said on Tuesday. Banks, foods, motors, rubbers and engineerings were steady, but constructions and ous eased, and other sectors were hesitant. Foreign shares were mostly steady, but gold
      345 words
    • Article
      Brussels
      151 7 BRUSSELS: Prices closed lower In quiet trading with only small movements on Tuesday. Soflna and Cockerlll Rose, but Traction Clabecq, 08, Flnoutremer and Tabacoflna were lower. In foreign stocks UK and Dutch were mostly unchanged, Germans were steady and US and French mixed. Gold mines met slight profittaking. Petroflna
      151 words
    • Article
      Hongkong
      433 7 HONGKONG: The market was steady in quiet trading with Investors awaiting the outcome of the financial secretary's budget statement for 1977-78. dealers said on Wednesday The Hang Seng Index fell 0.08 point to 433.20 The firmer trend overnight on Wall Street also helped to maintain price levels, they added.
      433 words
    • Article
      Tokyo
      535 7 TOKYO: Share prices closed lower after opening steadier on Wednesday as export-oriented shares turned downwards of fears that the US might take measures to control Imports of Japanese colour television sets, dealers said. The Dow Jones average lost 16.00 to close at 5,057.65 with volume 350 million shares. The
      535 words
    • Article
      Toronto
      305 7 TORONTO: Golds suffered sharp losses but the balance of the market closed broadly higher In moderate trading. Oil Issues broke out of a twoweek slump, adding over 10 points to their Index. Awmti rose V, at 10V Ranger H at 20V and Chieftain 4 at 12. Francana, which reported
      305 words
    • Article
      Sydney
      456 7 SYDNEY: The market was slightly firmer, led by mining, leaders, aided by firmer world metal prices, dealers said on Wednesday. The Sydney All-Ordinaries Index rose 1.30 points to 426.05. BH South rose four cents to $1.31, Peke-WalUend 13 cents to $4.75, CRA five cents to $3.18 and Hamerslev four
      456 words
    • Article
      Bangkok
      83 7 MAK 112 Bahts Asia Fibre 12SS Bangkok Bank 255 unch Bangkok Invest 158 1 Bangkok-Metro-unch politan Bank 2600S Bata 379S unch Berll Jucker 171 unch Charoong Thai 103 unch Wire Dumex Duslt Thanl Faber Merlin First Trust Indo-Thal J And J Ho 190S unch Jalaprathan Cement Karnasuta Lee Kwang
      83 words
    • Article
      Manila
      99 7 MAK 02 Pesos Acoje Mining Atlas Con A Atlas Con B Bagulo Gold Benguet Con B BF Goodrich CDCP IncoB LepantoB Marlnduque B Meralco Oriental A Oriental B Phil Ov erseas Philex A Phllex B PlcopA PlcopB PLOT Podco B San Miguel A San Miguel B Seafront Uslphll Vulcan
      99 words
    • Article
      Indices
      66 7 FINANCIAL TIMES INDUSTRIAL Tuesday 410.4 Monday 410 7 Week ago 397.7 DOW JONES AVERAGE INDUSTRIALS Tuesday 944 73 Monday 936.42 Week ago 939.91 LONDON DOLLAR PREMIUM Tuesday 108 to 108'/,% Monday 108*« to 109'«* H.K. HANG SENG Tuesday 433.28 Monday 427.76 Week ago 439.77 SYDNEY INDUSTRIALS Tuesday 345 92
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    • Article
      Lock icon US oil checks could hamper recovery
      113 7 Reuter HOUSTON, Wed. Shell Oil president, Mr. John F. Bookout, said the continuation of US oil and gas price and allocation controls could seriously impair the industry's ability to recover costs and provide for investment. Mr. Bookout said in the annual report to Shell
      Reuter  -  113 words
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      Page 7 Advertisements Column 1
      431 7 nmm proper volume. Your eyes are directed to the IMrOi IN 1 UlfljVAl right chapter, page, and paragraph. Your mind Is then enriched by the very words the author had to say about the idea. what the GREAT BOOKS can mean to y7>u Just as an adult education is interminable,
      431 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      521 8 THE Singapore rubber market yesterday opened unchanged and thereafter rilled Inactive with prices unaltered from opening levels, dealers said. Towards the morning close, freer offerings of outgoing March eased values marginally, they said. The morning session closed very quiet with March RSS One buyers quoted
      521 words
    • Article
      Closing prices
      18 8 Rubber: Mar 2. Singapore: Mar. 197.50 cU (unchanged) Malaysia: Mar closed. Tin: Closed. Official offering Cloaed.
      18 words
    • Article
      SSR
      36 8 Mar. A»r R. .VS. (Current Mthl (Forward Mth) Buyer* Sellers Buyer* Seller* (cent* per kg) (eeatoper k|) SSR'M (1-ton Pallet) 189 00 190.006 190.50 191 50N SSR50 (1-ton Pallet) 186 50 187.SON 188 00 189.00N
      36 words
    • Article
      Gold
      358 8 IN the Singapore gold market yesterday, the kilobar changed hands at S$ 1 1,420 to S$ 11\480. Volume was thin as dealers had built up their requirements towards the latter part of last month. The loco London gold opened at U*****.30/ 142.70 and on good volume the price closed
      358 words
    • Article
      Sugar
      333 8 LONDON, Wed. Sugar futures had first call losses from Tuesday night of mostly £0.90 (near Aug at £129.50 bid) to £0.25, although prices were about unchanged from Kerb levels, dealers said. They added that the market was hesitant pending today's EEC white sugar selling tender. There was little fresh
      333 words
    • Article
      Straits tin
      148 8 THE Straits tin price in Penang yesterday was not available In view of the holiday in Malaysia. In LONDON yesterday, tin showed net gains of around £22 for Cash and £15 for Three Months In both contracts. Dealings were modest with carries accounting for most of the standard
      148 words
    • Article
      Lead
      102 8 LONDON, Wed. Lead rose by £10.75 per tonne for Cash and £9 for Three Months In the morning. Profit-taking soon developed, however, and Three Months finished the Ring trading at £447 after touching £445.50 at one stage. Sales were 2,225 tonnes. On Tuesday afternoon, lead closed about £1 ud
      102 words
    • Article
      Zinc
      94 8 LONDON, Wed. Zinc gained mostly £7 per tonne in the morning. Prices rose further In sympathy with the general trend to set a new trading high for the current movement of £450 per tonne for Three Months during pre-market dealings. Some profit-taking and hedge selling emerged later and this
      94 words
    • Article
      Rice
      216 8 BANGKOK, Wed. Indicative prices for rice quoted were: US dollars per tonne for basis Bangkok VtatUe: 100 per cent Ist class 282 100 per cent 2nd 287 100 per cent 3rd 262 5 per cent 254 10 per cent 233 15 per cent 230 20 per cent 227 25
      216 words
    • Article
      Palm oil
      121 8 THE following Palm Oil prlcei wer e quoted In London on Tuesday. The prices are clf Rotterdam and are quoted In US dollar per ton unlets otherwise stated Tuesday Pre*. Malavsla 5% ffa bulk Apl/May aumatra 5* 522 sir 511 sir Feb unch 520 pd Mch unch 536
      121 words
    • Article
      Produce Prices
      270 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil Bulk *92vt teller*, old drum *97 v» sellers, new drum *102 W sellers. Copra: Mixed (loose) UK/Cont $60 buyers. wpptf. Muntok AST A white f.o.b. 100* NLW *357 sellers, Sarawak white f.o.b. 90* NLW *337 S
      270 words
    • Article
      Coffee
      306 8 LONDON, Wed. Robusta futures ended the opening call £115 to £47 per tonne down from Tuesday night. Volume was 565 lots and the tone "steady". Trading was mixed with commission house and local dealer selling matched by trade buying and some self-trading at the lower levels. Spot Mch shed
      306 words
    • Article
      Soybeans
      168 8 CHICAGO, Tues. Soybean futures staged a late advance which left prices with gains of nine to 2 1/2 cents a bushel at the close. Final prices were at or Just below the day's best and most contracts finished at or within a cent or two of the seasonal highs.
      168 words
    • Article
      Wheat
      177 8 CHICAGO, Tues. Wheat futures rose on late buying interest to close around the day's highs with gains of 7% to 1% cents a bushel. Local and commission house buying brought early firmness but the small gains were lost and most prices fluctuated around Monday's close before short profit-taking started
      177 words
    • Article
      Copper
      349 8 LONDON, Wed. Copper wlrebars scored gains of mostly £10.50 per tonne In the morning. Further advances stemmed from short-covering and fresh buying Induced by the trend at New York and continued strength of gold this morning, dealers said. In the pre-market, Three Months traded up to £902 per tonne
      349 words
    • Article
      Silver
      334 8 LONDON, Wed. Silver registered gains of 5.0 to 5.0 pence per troy ounce. Early firmness In the premarket reflecting overnight gains at New York and strength In gold took Three Months up to 291 pence but this level, which was close to July's record 292.5 pence, attracted proflttaklng, trade
      334 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      551 8 THE Singapore domestic money market saw erratic and nervous moments near the close as overnight Interest rates hit a high of ten per cent yesterday. Opening at 4ft per cent to four per cent, the overnight rates firmed slightly during Initial trading hours to sft per cent to 5%
      551 words
    • Article
      Asian $ rates
      169 8 Asian rates ASIAN currency depoalt interbank rate* a* at cloee on March 2 US Dollars (Spot* Offer Bid 7 days 1 mth 2 mth* 3 mttu 8 mttu 9 mttu 12 mttu 4 7/8 4 S/4 4 11/18 4 9/18 .9 4 7/a 9 Via 9 1/18 9 5/8 9
      169 words
    • Article
      Discount
      50 8 RANGE of price* offered by dls count houiet on Much 2 Overnight 3H Call deposit 2W to 3S llociaa Buy Hellion J- month Treasury bills > 2% J- Month Bank bills 4 1/16 315/16 3-Month CD 4 5/16 4 3/16 •-Month CD 4 1/2 4 J/8 Source: National Discount
      50 words
    • Article
      Euro $ rates
      183 8 Euro rates LONDON, Wed. Period Eurodollar deposits opened lower up to Six Months reflecting the Friday dealing technicality, while shorts were little changed, dealers said. Initial technical losses ranged from 1/4 In the near end to 1/16 in Six Months. Rates generally held little changed from openings In quiet conditions
      183 words
    • Article
      London
      321 8 LONDON, Wed. The Swiss franc resumed Its decline following Tuesday's late recovery, as major Swiss Banks placed selling orders for the currency at the opening, dealers said. The franc eased to 2.5615/ 25 to the dollar from the early 2.5560/ 70. On Tuesday evening It recovered to 2.5440/ 60
      321 words
    • Article
      New York
      123 8 NEW YORK, Tues. The dollar closed stronger than Monday night after it recovered from the over-done lows that followed unfavourable US economic news on Monday, dealers said. Main attention centred on the Swiss franc which moved erratically, touching a high here of about 39.23 shortly after Zurich closed
      123 words
    • Article
      Hongkong
      200 8 HONGKONG Wed. The US dollar weakened in Hongkong and was quoted after mid-day around HK54.6380/ 6390. The US dollar recovered after a statement by Flnancial Secretary Philip Haddon-Cave that he does not expect the Hongkong dollar to appreciate much further on foreign exchange markets this year, although an easing
      200 words
    • Article
      Tokyo
      84 8 TOKYO, Wed. The doUar for overnight delivery closed at 281.70 yen The dollar moved between 282.25 and 282.45 for most of the day with demand and supply virtually balanced, they added. Dollars for Immediate delivery closed at 282.34 yen compared with 282.30 at the opening and 282.60 at Tuesday's
      84 words
    • Article
      Treasury bills tender
      39 8 THE Monetary Authority of Singapore (MAS) invites banks and discount houses to tender for: S3O million 91-day Treasury Bills to be issued from March 7 to March 11. Each tender must not be less than $250,000
      39 words
    • Article
      Minimum lending rates (in %)
      53 8 Minimum lending rates (in ACBC First Chicago Algemene Bank 8*. Citibank 8*. Bangkok Bank .7 HSBC 7 Bank of America Indosuez 8* Bank of China ..7 Malayan Bankings* Bank of Tokyo Mitsui Bank 6* Bank Negara OCBC 6*. Indonesia .7.! OUB Chartered Bank UCB 7 Chase Manhattan 6*1 UMBC 7
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    • Article
      Australia/NZ
      52 8 AUSTRALIA/NZ exchanges quoted on March 2 Australia: Sterling 0.6438/ 0.6367 US dollar 1.0977/ 1.0949 Ninety day air mall buying rates: Sterling 0.6699 US dlrs 1.1247 Ninety day forward buying rates: Sterling 0.6530 US dollar 1.0939 New Zealand: Sterling 0.6530. US dollars 1.0939 Ninety day forward rate: Sterling 0.5906 US
      52 words
    • Article
      Zurich
      45 8 ZURICH exchanges closing quotes on March 1 US 2.5623-5633 UK 4.3895-3930 Can 2.4550-4570 W Germ 107.08-18 Neth 102.75-84 France 51.47-51 Belg 7.00 1/4-01 Denm 43.60-63 Norw 48.79-82 Swed 60.85-91 Italy 0.2895-2898 Austria 15.08-10 Port 6.62-64 Spain 3.71 1/4-72 Arg 0.75-90 Japan 0.90 3/4-91 1/4
      45 words
    • Article
      Frankfurt
      36 8 FRANKFURT exchanges opening quotes on March 2. US 2 3925/40 2 3912/20) Can 2 2900/20 UK 4.095/110 Neth 95.90/96.05 Switz 93.50/65 Italy 2.700/715 France 48.10/25 Norw 45.41/47 Belg com 6.520/535 Belg fin 6.520/530 Japan 0.8490/8505
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    • Article
      Eurobond prices
      311 8 LONDON, Wed. Bond prices were basically unchanged in quiet trading, dealers said. LONDON Eurobond prices quoted on March 2 Strain hi« Bid Offer Austria 84 80 100% Bell Canada 8". 86 104N BFCE 8*. 83 101 4 Brazil 9 >4 84 98% Can Pacific 9% 83 1004 Credit
      311 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      146 8 TOP EXECUTIVE how to achieve it...how to hold it...TODAY.. is for YOU the mSSmSNmk- nt- This forceful, fast-reading new Guide exposes the dynamic strategies seldom openly discussed and v almost unknown to the younger man who needs them most. m Now you can learn: BL how to create and project
      146 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon Super days for Suez
      1069 9  -  ■y RON COCKING Financial Times News Features. PESSIMISTS who said the Suez Canal would never again be the same busy waterway that It was prior to Its closure during the Six Day War of 1967 have been proven wrong. The canal Is now carrying more dry
      Financial Times News – Features.  -  1,069 words
    • Article
      Lock icon British car manufacturers are down — but not out
      865 9  - British car manufacturers are down but not out By GERRY BUTCHER, ANDREW TAYLOR Financial Times News Features. BRITISH Journalists who have had the opportunity to compare Japanese and British motor vehicle factories at first hand have been astounded at the vastly superior working conditions and methods In the Japanese factories.
      Financial Times News – Features.  -  865 words
    • Article, Illustration
      IN PORT
      411 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Arunachal Pradesh (after Achllle Lauro) 46 Asian Trader 1 (H3NY) (2300 after May Carp) 40/41. Bunga Mas (0600 after Bunga Gelang) 19 Lloyd Bakke (after Achille Lauro) 47 Neptune (Tanker) (after Ocean Endurance) (Must sail not later than 1100/sth) 42/43 Neptune Topaz (0700
      411 words
    • Article
      Lock icon London freight market
      193 9 AP LONDON, Wed. Very dull conditions prevailed throughout the London freight market yesterday with no sign of appreciable change in the overall rate structure. Time-charter operations were the main source of Interest as grain, coal, ore, sugar and chemical voyage routes all failed to generate fresh activity.
      AP  -  193 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      570 9 ARRIVALS Service Loca J Operator N"«iber Time From CPA C. 0145 HKO MAS MH0t»^ 0810 KCH SIA SQ211 1010 HLP CPA CX710 1030 HLP GIA OA 980 1030 HLP OLA OA 908 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN SIA SQ201 1200 HLP SIA
      570 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      96 9 A wealth of answers to scientific phenomena LIFE SCIENCE IlltltVltV A thousand questions you've asked but never had answers to. Now to be found in these fantastic volumes from Life Science Library. Vast information on every conceivable branch of science. The power of pure energy molecular theory mathematics the human
      96 words
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  • Article
    Lock icon Accountants hunt a formula for living with inflation
    842 10  -  ■y MICHAEL LAFFERTY Financial Times News-Features COMPANY accounts In several of the world's most advanced countries are about to undergo a transformation. They are being fundamentally adjusted, to make allowance for pressures the man In the street has long been feeling In
    Financial Times News-Features  -  842 words
  • Article
    A look at the prospects for American protectionism
    1424 10  -  •y LEE SOO ANN IN HIS election campaign, Mr. Jimmy Carter pledged to bring down the unemployment rate to about 4)4 per cent by 1980. After more than a month In office as President and with the passage of each succeeding month,
    1,424 words
  • Article, Illustration
    Lock icon S. Korea follows the footsteps of Japan
    1164 10  -  By DOUGLAS RAMSEY Financial Times. LIKE THE famous reports Mark Twain's death, rumours in early 1976 that South Korea was Insolvent were greatly exaggerated. But so Is the new spate of reports which say that South Korea has caught up to where Japan
    Financial Times.  -  1,164 words
  • Article
    Lock icon Tax end was promised — but they still pay
    433 10  - Tax end was promised but they still pay By THOMAS KENT AP DESPITE Kremlin promises 15 years ago to abolish income taxes, the Soviet worker has not escaped the pay cheek deductions that also lower the take-home pay ef his Western coonterpart. "Income tax hare h thirty omall but you
    AP  -  433 words
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      Page 10 Advertisements Column 1
      320 10 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 dimate in Singapore, to stimulate the spirit of debate and to cast light on maior
      320 words
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  • Article, Illustration
    'Prospects for business in Pacific Basin are hopeful'
    519 11 THE president of Security Pacific Corporation, Mr Richard Flamson, 111, said on his arrival In Singapore yesterday although economic recovery from the recent worldwide recession Is slow. Its progress remains steady and business prospects In the Pacific basin appear bright and promising.
    519 words
  • Article
    Ensuring that timber buyers aren't sold out on quality
    507 11 KUALA LUMPUR, Wed. The Malaysian Timber Industry Board Is embarking on the second phase of its attempt to restore the credibility of Malaysia as an exporter of timber and timber products. The second phase will be concerned with the question of
    507 words
  • Article
    MP: Allay private sector's fears
    198 11 KUALA LUMPUR, Wed. The MP for Kuala Lumpur Bandar, Mr. Lee Lam Thye, called on the Government to make fundamental changes to the Industrial Co-or-dination Act to dispel the fears and apprehensions of the manufacturing and business sector. He pointed out during a meet-the-people session,
    198 words
  • Article
    Sugar talks make no headway
    213 11 TOKYO. Wed. The Japanese Sugar Refiners Association said It failed to make any progress on sugar prices at an enlarged meeting with a visiting Australian negotiating group. Mr. John Laurie, general manager of CSR's sugar marketing division and head of the Australian negotiating team, told
    213 words
  • Article
    Petronas to sell crude on contract basis
    294 11 KUALA LUMPUR, Wed. Petronas ha* reached agreement with a number of its customers to sell its crude on a year's contractual baaia aa from this month. It had previously been spot selling ita a hare of the oil produced at a price reaching
    294 words
  • Article
    WORK FOR FOUR LAID-UP TANKERS IN LABUAN
    191 11 LABUAN, Wed. Four more oil tankers constituting some 600,000 tonnes will weigh anchor from the laid up anchorage here this month. Three of these are the shell tankers: Marlsa (106.000GT )Sertna(42,OOOGT Llmatula (i00,420QT) and the Taruml (128.000QT) owned by the Japanese. The shell
    191 words
  • Article
    KL surplus for 1976 hits $1.5 billion
    590 11 EXPORTS TO EEC UP 31 pc KUALA LUMPUR, Wed. Peninsular Malaysia's trade surplus with the EEC countries widened from MS4O9 million In 1975 to $1,079 million In 1976. Trade surpluses with other major trading partners also increased, but at a slower rate. To
    590 words
  • Article
    Lock icon Pak troops stand by
    339 11 Reuter KARACHI, Wed. Troops were brought into Karachi today In case of renewed political violence during an election campaign visit by Pakistani's Prime Minister, Mr. Zulflkar All Bhutto. Mr. Bhutto will arrive here tomorrow to lead a big procession of his Pakistan Peoples Party (PPP) supporters
    Reuter  -  339 words
  • Article
    Sime to house its plantation workers
    347 11 KUALA LUMPUR, Wed. Slme Darby Plantations Bhd. Is to start a housing scheme for Its workers which will be the first such project undertaken by a company in Malaysia. The company and the Selangor State Government yesterday signed a "letter of understanding" for the
    347 words
  • Article
    SISIR serves a thousand
    178 11 THE number of subscribers to the Singapore Institute of Standards and Industrial Research's Industrial Technical Information Service has swelled from 227 at end-1975 to almost a thousand. This monthly service began In January 1973. It gained ground In 1975 when It became fully computerised and was
    178 words
  • Article
    Lock icon GENERAL WANTS MOUNTAINS TO BE OFF LIMITS
    212 11 Reuter BANGKOK, Wed. The Army Commander In southern Thailand has asked the Government to declare the vast Banthad mountain range off limits to villagers so that he can strike more effectively at communist guerillas. Lieutenant General Pin Thammasrl told newsmen that the move
    Reuter  -  212 words
  • Article
    Shoppers' City
    49 11 Popular Hongkong entertainer Frances Yip will officially open the Orchard Towers shopping complex on Friday at 10.30 a.m. Aggressively marketed as "Shoppers' City", the complex of 150 shops with supporting supermarket and restaurant facilities is owned and run by a subsidiary of the Slme Darby Holdings group.
    49 words
  • Article
    GREATER STRESS ON BUILDING SAFETY
    341 11 THE Industrial Training Board's construction trade advisory committee (TAC) will this year, lay greater stress on quality work and Industrial safety. Mr. Ahmad Mattar, chairman of the ITB speaking at the inaugural meeting of the committee's third term of office yesterday, outlined the steps which
    341 words
  • Article
    Lock icon Ship order backlog is down
    71 11 Reuter TOKYO, Wed. The backlog of shipbuilding orders at 35 major Japanese shipyards fell to 15.25 million gross tonnes as of end December from the peak of 50 million gross tonnes at the end of March, 1974 according to a survey by the Transport Ministry.
    Reuter  -  71 words
  • Article
    Muslim rebels revert to original demands
    188 11 MANILA, Wed. President Marcos uid today that Muslim rebel leaders had reverted to their original demands over the composition of an autonomous Muslim region, threatening current peace talks to end the Muslim rebellion in the southern Philippines. The talhs between representatives of the Philippine
    188 words
  • Article
    Lock icon Surcharge up
    52 11 Reuter LONDON, Wed. The Conference of Malta and Alexandria Steamship Companies said the surcharge on all vessels commencing to load at Alexandria from yesterday is Increased to 40 per cent from 15 per cent. This Is because of further deterioration In conditions and continuing delays to vessels at
    Reuter  -  52 words
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    Lock icon Shippers in HK are against rate hike
    463 11 Reuter HONGKONG, Wed. The Hongkong Shippers' Council told the Far Eastern Freight Conference (FEFC) It did not feel any increase In freight rates was Justifiable at the present time, the FEFC said. It said In a press statement It presented Its claim for
    Reuter  -  463 words
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      463 11 APPOINTMENTS invites applications from suitably qualified candidates for a vacancy in the position of: CHEMICAL ENGINEER After initial training in Company procedures and technical know-how, the successful candidate will have the opportunity to pursue a career in our Technical Department as an Engineer responsible for project evaluation, engineering design and
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      236 11 P.T. LEIGHTON INDONESIA CIVIL ENGINEERS PROJECT MANAGERS P.T. Leighton Indonesia, the Indonesian subsidiary of Leighton Contractors of Australia has positions available for qualified experienced civil engineers to act as project managers in Indonesia. The Company has recently been awarded a number of contracts with Mining Coys, in remote locations within
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    Japan to cut tariffs on 83 products
    159 12 IMPORT tariffs on 83 products, Including aquarium fish, cocoa butter and bananas, will be reduced or abolished by the Japanese Government from next month. The move, designed to Increase Japanese Imports from developing countries, was based on an International agreement to give less
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    AUSTRALIA, CANADA LOWER DUTIES TOO
    149 12 AUSTRALIA and Canada have reduced import tariffs on certain products, according to the Commercial Bulletin of the Trade Department. Australia removed all tariffs on completely built up passenger motor vehicles and tariff quotas on completely knocked down passenger motor vehicles, effective last year. The Australian
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    LONDON STOCKS
    743 12 LONDON. Wed The market closed easier but above the day's lows and at 3 pm, the Financial Times Index was down 1.1 at 409.3.The continuing labour dispute at British Ley land prompted some selling. dealers said Government bonds trimmed 1/2 point losses at 3/8 after the UK official
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    Port activities can speed up growth
    667 12 SEATEC '77 SEMINAR A VIGOROUS port operation, because It can be linked to more sectors of the economy than any other Industry, can galvanise a country's development. Expounding on the "big push 1 concept of economic development, Mr. Simon Feldman,. from the World ORT
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    Lock icon FEFC proposes freight hike to Manila
    190 12 UPI MANILA, Wed. An association of European Shippers today announced plans to increase by 13.75 per cent freight rates between Europe and the Philippines. A delegation of tne Far Eastern Freight Conference, headed by Mr. Keith Reynolds and Mr. Jan Weifsink, presented the proposed
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    Foreign consultants are still needed
    357 12 SHOULD the port authority of a developing country, when considering an expansion project, employ the services of a foreign or local consultant engineer? "Specialist consulting engineers from the developed and more industrialised countries," said Mr. P.G.R. Barlow, a partner with Coode and Partners of London,
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    Lock icon 'Spring offensive' for 15 pc wage hike
    463 12 UPI TOKYO. Wed. The top leader of Japan's most powerful labour union federation said today that his organisation will launch a massive "Spring offensive" to win a 15 per cent wage Increase for millions of workers. Mr. Motofuml Makleda, chairman of the Oeneral
    UPI  -  463 words
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    SMA to hold problem sessions
    66 12 THE Singapore Manufacturers' Association will hold regular meetings with members to find out their problems, particularly those of the smaller members. An action group has been formed to assist members In areas such as management, finance, production, exports and relations with the authorities. It will
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    Third Saudi trade fair
    67 12 THE third Saudi International Trade and Industry Fair will be held at Jeddah International AlrKrt from March 15-29, and :al exporters wishing to participate may contact the Trade Department. The fair Is organised by the Saudi Arabian Ministry of Commerce and will exhibit industrial and capital
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    Symposium at hotel
    50 12 SMALL manufacturers will be encouraged to be more active and export more at a symposium on small industries in Singapore from March 24-25. It will be held at the Shangri-La Hotel and the participation fee is $60 per Crson. Applications should directed to the Singapore Manufacturers Association.
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    Compensation: Arriving at the amount
    201 12 THE amount of Government compensation to be given for land acquisitions will be reduced if improvements made in the neighbourhood by the Government increase the value of the land. Under the Land Acquisition Act, such increases In value (better known as "betterment value") from the
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    KL-Manila air services talks
    214 12 KUALA LUMPUR, Wed. Talks on the conclusion of a formal air services agreement between Malaysia and the Philippines will begin in Manila tomorrow. A statement from the Civil Aviation Department here today says that its Director-General Enclk Ibrahim Mahmud will lead the Malaysian delegation for the
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    MORE REVENUE NOW PROM DIRECT TAXES
    1181 12  -  By SOH TIANG KENG THE bulk of Government revenue now comes from direct taxes thanks to Singapore's growing affluence and better methods of tracking down tax evaders. While Indirect taxes have shrunk In their contribution to total revenue, direct taxes, particularly Income tax, have
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    Lock icon 'Abolish disc tax law'
    156 12 UPI GENEVA, Wed. The Common Market today demanded the United States abolish its "Disc" tax legislation on the (rounds that it violates international trade regulations. It said the legislation, by giving tax benefits to US exporters, amounts to an export subsidy. This violates Article 23 of
    UPI  -  156 words
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      3 12 SEE PAGE 11
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