The Business Times, 8 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 TUESDAY, MARCH 8, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Aussie budget deficit
      81 1 AP CANBERRA, Mon The Australian government today,posted a record budget deficit of A 55,532.2 million (5514,937) for the first eight months of 1976-77. This represented an increase In the deficit of $715.2 million In February, and Is more than twice that estimated for the whole of the
      AP  -  81 words
    • Article
      Lock icon Why no compromise
      78 1 AP NICOSIA, Mon. Saudi Arabia abandoned its willingness to compromise on oil pricing after rival producers ignored its proposal for a uniform seven per cent increase for 1977, the Middle East Economic Survey reported today. The authoritative weekly newsletter said a majority of the Organisation of Petroleum
      AP  -  78 words
    • Article
      Lock icon Leyland workers 'no'
      42 1 Reuter LONDON, Mon. Three thousand skilled workers, angry at a recent tendency for wages to become more equal in Britain, today ignored pleas by trade union leaders and continued a strike which threatened the state-owned Leyland motor company. Reuter.
      Reuter  -  42 words
    • Article
      Lock icon Poll clashes claim seven
      64 1 AP ISLAMABAD, Mon. Seven people were killed and nearly 300 others wounded in clashes related -to today's general elections In Pakistan, unofficial reports said as voting to elect a new national assembly got underway. This brings the total death toll related to the elections to 21
      AP  -  64 words
    • Article
      Lock icon Rate cut report
      68 1 Reuter TOKYO, Mon. Kyodo News Agency reported today that the Bank of Japan was Intending to cut the official discount rate by 0.5 per cent to six per cent per annum, effective on March 12. The Bank plans to take a decision on the discount rate cut
      Reuter  -  68 words
    • Article
      No official invite
      57 1 TOKYO, Mon. A Foreign Ministry spokesman said today the Japanese Prime Minister, Mr. Fukuda, had not yet received an official Invitation to visit Malaysia in August when Asean will be holding its second summit conference. The spokesman was commenting on reports from Kuala Lumpur yesterday that an
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    • Article
      Lock icon A welcome suggestion
      64 1 Reuter MANILA, Mon. Trade Secretary Troadio Quiazon Jr. today welcomed a Malaysian suggestion for the establishment of a bank of Malaysia and the Philippines in each other's place. The proposal was submitted to Mr. Quiazon during the courtesy call of a 21-man Malaysian trade mission which arrived
      Reuter  -  64 words
    • Article
      Lock icon Dow Jones
      42 1 UPI NEW YORK, Mon. Dow Jones averages, based on first hour of trading on the New York Stock Exchange: 30 indust 953.79, up 0.33; 20 transp 223.95, down 0.19; 15 utils 107.62, up 0.39; 65 stocks 311.03, up 0.19. UPI
      UPI  -  42 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      173 1 TRADING at the Stock Exchange of Singapore remained dull and mixed yesterday. The options board was also very quiet though the premiums posted were a shade higher. The Business Times index rose 1.21 points to 263.88 while the Straits Times Industrial average was fractionally higher at 253.32.
      173 words
    • Article
      In Kuala Lumpur
      111 1 Rises Most active Karamat Tin Sel Dredging Berjuntal 4.00 5.10 .30 .14 Central Sugars Haw Par 121.000 110.000 $13.50 .10 Gentlnes 78.000 Consol Pit. Carlsberg G. Ceramics M. Tobacco S Trading Premium Hold. 3 54 3.58 0.60 5 10 5.75 0.62 .08 .06 .06 .05 .05 .05
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  • Article
    Phased abolition of rent control
    833 1 EXPERT'S STUDY RECOMMENDS THE movement for reform of rent control In Singapore Is expected to receive fresh stimulus from a paper on the subject, currently being prepared by a .senior academic at the University of Singapore. Professor Philip Motha, vice-dean of the Faculty of Architecture
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  • Article
    Jack Chia to up his stake in JC-MPH
    527 1 MR JACK Chia Is to Increase his share stake in Jack Chia-MPH, it was disclosed yesterday. This follows the announcement earlier In the day that Haw Par Brothers International has sold five million shares of Jack Chia-MPH for *4.375 million in cash
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  • Article
    Lock icon STRAITS TIN
    62 1 Reuter THE Straits tin price In Penang advanced MSI3-7/8 per plcul to $1,620 $295 above the International Tin Agreement celling, dealers said. Continued strong buying interest from America and Japan caused the market to move higher, they said. Severe rationing was reported with bids alloted between 30 and
    Reuter  -  62 words
  • Article
    A record profit for the DBS group
    331 1 IN LINE with expectations, Development Bank of Singapore reported record results for 1970, with net group profit rising 58.9 per cent to $18.43 million. With the bank's profit showing a slower rate of growth of 36.3 per cent to $15.6 million, the group
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  • Article
    Private consumption spending hits $8.8 bil
    403 1 PRIVATE consumption expenditure of Singaporeans last year amounted to $8.8 billion of which nearly a third was on food, beverages and tobacco. Total expenditure exceeded 1975's by 6.6 per cent. According to the Economic Survey of Singapore 1976 (statistical appendix), released by the Ministry
    403 words
  • Article
    Lock icon Crude output to hit high
    118 1 AP TULSA, Mon. Worldwide production of crude oil is likely to set another all-time high this year, the Oil and Oas Journal reports in its latest edition. Total world production climbed 7.9 per cent last year for a new record of Just under 57.3 million
    AP  -  118 words
  • Article
    GROWTH OF MONEY SUPPLY SLOWS IN JAN
    156 1 GROWTH of Singapore's money supply cash in circulation and current deposits slowed down in January compared to last December. Annual growth in January was 13.2 per cent against 15.2 per cent in December and 14.2 per cent in November. In its latest monthly
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  • Article
    JUMP IN HOUSING AND CAR LOANS
    155 1 MOTOR vehicle and housing loans by finance companies took a sharp jump in January, partly due to seasonal demand, according to statistics released by the Statistics Department. Loans for the purchase of motor vehicles in January continued on an uptrend evident since last September,
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  • Article
    Sime looks for best man to fill that $240,000 post
    437 1  -  By QUEK PECK LIM DIRECTORS of Slme Darby Holdings will decide In eight days' time at their next board meeting In Singapore on the sort of man to be chosen to fill the $240,000-a--year post of chief executive of the
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  • Article
    Issue of domestic bonds next week
    203 1 THE Singapore Government will begin the Issue of domestic bonds this year through the floating or $40 million six-year tax-free bearer bonds on March 15. The bond will yield a rate of five per cent per annum with a maturity date set on March
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      75 1 hnr Your H< l Selci ltd nt L'untu «.V I \tjui>i!' JcMtlU r "t Wjumfti t'H Lrjftsi'wishif) i'l.Ml CeytoriJeweUers It Stamford «d.. bngvon 6. Tat: *****8/*****7. SEE PAGE 2 INSIDE Overieti news/TV A Radio/Feature* P 2 Overseas news P 3 Local Co news P 4 International Co news P 5
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  • OVERSEAS
    • Article
      Lock icon Japan's unions get set for the 'Spring Struggle'
      343 2 UPI TOKYO, Mon. Japan's Left wing labour unions kicked off their annual "Spring Struggle" for higher wages yesterday with mass rallies In Tokyo and Osaka, with union leaders demanding wage Increases averaging 15 per cent this year. Virtually all unionmanagement contracts In
      UPI  -  343 words
    • Article
      Lock icon Plunge in US, Brazil ties
      214 2 AP RIO DE JANEIRO, Mon. Relations between the United States and Brazil historically America's staunchest ally In Latin America plunged to one of the lowest points ever over the weekend. The diplomatic crisis between the two nations came as Brazil rejected any future military assistance
      AP  -  214 words
    • Article
      Australian strikes up
      76 2 CANBERRA, Mon. The number of working days lost through strikes In Australia In 1976 rose to 3.8 million from 3.5 million in 1975, the Statistics Bureau reported. Of the total, 2.1 million days were lost through strikes to protest at the Introduction of a tax levy for
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    • Article
      Lock icon Carter: Early push for peace talks
      419 2 AP WASHINGTON, Mon. President Carter will push for an early Geneva peace conference In talks with visiting Israeli Prime Minister Yitzhak Rabin, the first in a line of Middle East leaders due here over the next two months. To arrange such a conference Mr.
      AP  -  419 words
    • Article
      Lock icon 'Send troops' call to France by Franjieh
      152 2 AP BEIRUT, Mon. Former President Suleiman Franjieh has urged that France Intervene In southern Lebanon to disarm Palestinian guerillas and police the border with Israel. "I believe all parties Involved would bless such a move," Mr. Franjieh said In a statement published today
      AP  -  152 words
    • Article, Illustration
      Lock icon THE HUNT FOR SURVIVORS
      75 2 RESCUE operations in Bucharest after the earthquake which truck Romania's capital city on Friday became more organised yesterday as groups of 100 or more soldiers and militia arranged themselves in long lines to pick through the rubble for bodies. The death toll from the disaster so
      UPI picture.  -  75 words
    • Article
      Lock icon Japan energy policy
      118 2 Reuter TOKYO, Mon. The Ministerial Council on Energy Policy, chaired by Prime Minister Takeo Fukuda, decided to revise the current long-term energy supply-demand programme In view of the recent changed In the energy supply situation, the Ministry of International Trade and Industry said. The present programme, worked
      Reuter  -  118 words
    • Article
      Lock icon Pakistan battle between the sword and the plough
      362 2 UPI ISLAMABAD, Mon. Pakistanis voted today in the first general elections since the nation lost half Its land and people in the disastrous 1971 war with India. Warm late Winter sunshine was reported In most of the country, where 30 million voters
      UPI  -  362 words
    • Article
      Lock icon 'Blackmail' blast at Soviets by China
      179 2 Reuter HONOKONO, Mon. China today accused the Soviet Union of blackmailing Japan in the recent round of fishery talks. Commenting on the talks In Moscow from Feb 28 to March 3, the official New China News Agency said: "The new tsars levied a new
      Reuter  -  179 words
    • Article
      Lock icon 'Advance aggressively'
      55 2 AP SEOUL, Mon. The president of the state-run Korea Trade Promotion Corp. (Kotra) urged South Korean businessmen to advance "more aggressively" into South America, the region rich In fuel and other raw materials. In a recently published guidebook to Latin America, Kotra president Chung Sung-hwan said Latin America
      AP  -  55 words
    • Article
      Growing together — but still not too late to part
      1234 2 Growing together but still not too late to part WITH Mr. Rabin, Israel's Prime Minister, on his first visit to President Carter's Washington, the focus is again on the Middle East. Most parties concerned are agreed that the chances of reaching a workable settlement this year are greater than for
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    • Article
      Lock icon Signs of pick-up in loan demand
      174 3 Reuter CHICAGO, Mon. Although 1977 domestic loan demand has been relatively flat. First Chicago Core has seen signs of a pick-up in the last few weeks. President Richard L. Thomas said In an Interview. He said the First National Bank of Chicago's commercial and
      Reuter  -  174 words
    • Article
      Lock icon Arms sales: Response to Carter's plea
      456 3 NYT WASHINGTON, Mon. President Carter said his appeal for a reduction In the International arms trade has met with favourable responses from the leaders of several foreign governments, including the Soviet Union. 'We have not reached any tangible agreement and I can't I don't
      NYT  -  456 words
    • Article
      Lock icon Appropriations a near record
      266 3 Reuter NEW YORK, Mon. A strong demand for manufactured goods during the last four months of 1976 lifted capital appropriations by the 1,000 largest US corporations to a near record, the Conference Board said yesterday. The board, a businesssponsored research group, said capital appropriations by the
      Reuter  -  266 words
    • Article
      Lock icon Effects of winter on inflation
      199 3 Reuter NEW YORK, Mon. Purchasing managers for US corporations said they are very much concerned about the outlook for Inflation following the abnormally cold winter. The National Association of Purchasing Management Inc said In Its latest survey the cold In the east and drought In
      Reuter  -  199 words
    • Article
      Lock icon NO DATE YET FOR KEIDANREN TRIP TO VIETNAM
      227 3 UPI TOKYO, Mon. The chief of Japan's Influential business-Industrial group said today no exact date has been set for a private mission to Hanoi for talks on Vietnam-Japan economic co-operation. Mr. Toshl Doko, president of the Federation of Economic Organisations (Keldanren), told
      UPI  -  227 words
    • Article
      Lock icon Increase in US consumer credit
      159 3 Reuter WASHINGTON, Mon. Outstanding US consumer Instalment credit rose by a seasonally adjusted US$l.92 billion (514.7 billion) in January, following an increase of 11.82 billion In December, the Federal Reserve Board said. This is the largest rise In outstanding consumer credit since a $1.9 billion
      Reuter  -  159 words
    • Article
      Lock icon S.Africa pullout move by firms
      247 3 Reuter CAPE TOWN, Mon. Social and political unrest in white-ruled South Africa has forced at least 15 major American companies to consider puUlng out of the country, according to a university survey published here. The survey, conducted by the business school of Capet Town University,
      Reuter  -  247 words
    • Article
      Lock icon Italy reserves up $448 mil
      112 3 Reuter ROME, Mon. Italy's net official reserves rose U*****.3 million (*****.5 million) in January to $12.62 billion, the Bank of Italy said. December's figure was revised downwards to $12.43 billion. In January last year, reserves totalled $4.25 billion. The Bank of Italy decided to value
      Reuter  -  112 words
    • Article
      Lock icon FALL IN INDIAN GRAIN OUTPUT FORECAST
      321 3 Reuter WASHINGTON, Mon. Total Indian food grain production In the 1976/77 season Is estimated at between 107 million and ill million tonnes, eight to 11 per cent below the record 120.8 million tonnes produced in the current season, the US Agriculture Department said. In
      Reuter  -  321 words
    • Article, Illustration
      Lock icon Sweeping takeovers if French Reds in power
      588 3  -  By JULIAN NUNDY Reuter PARIS: France can expect large scale nationalisation If the socialists and communists come to power next year provided they can agree on how to Implement It. For more than a year now, opinion polls have consistently shown the combined
      Reuter  -  588 words
    • Article
      Lock icon After Peking
      47 3 UPI HONGKONG. Mon. Cambodia's Deputy Prime Minister leng Sary today left Peking for Burma, the New China News Agency said. The Agency said Mr. leng Sary and his Government delegation were seen off at the airport by Chinese Foreign Minister Huang Hua and other officials.
      UPI  -  47 words
    • Article
      Lock icon More and more Americans can't afford to own houses
      570 3 Reuter NEW YORK, Mon. Home ownership Is rapidly becoming an impossible goal for most Americans and promises to be out of reach for even more people In years to come, according to a new report on US housing trends. The report,
      Reuter  -  570 words
    • Article
      Lock icon Argentina chalks up a trade surplus
      169 3 Reuter BUENOS AIRES, Mon. Argentina had a balance of Bayments surplus of SSI, 192.4 million (552,933 million) last year compared with a deficit of $791.1 million in 1975, the Economy Ministry announced. It said In a statement that the trade balance during the year
      Reuter  -  169 words
    • Article
      Lock icon NY CITY PLAN TO MEET MARCH DEBTS
      168 3 Reuter NEW YORK, Moo. New York City mayor, Abraham Bra me, leaden of municipal unions and financial experts have presented a plan aimed at meeting overdue city debts to deputy Treasury Secretary designate Kenneth Axeison, informed sources said. The sources, who were close
      Reuter  -  168 words
    • Article
      Lock icon Bonn gives more aid than Reds to LDCs
      128 3 Reuter BONN, Mon. West German Development Aid Minister Marie Schlel said In a television programme last night that West Germany provides more aid to the Third World than all the communist East European states together. "But the neighbouring eastern states have offered
      Reuter  -  128 words
    • Article
      Mutual aid accord
      32 3 BANGKOK, Mon. Laos and Hungary have signed an agreement and a protocol on mutual assistance and co-operation In economy, science and technology, the Khaosan Pathet Lao (KPL) reported today.
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    • Article
      Lock icon Low rates may touch off reaction
      329 3 Reuter ZURICH, Mon. Bank Leu chairman Edwin Stopper said Swiss Interest rates are now so low that an excessive reaction is possible In the medium term. Any turnround of the capital market trend could produce a flight from bonds that would drive long terms
      Reuter  -  329 words
    • Article
      Lock icon Soares to have a tough time in France
      378 3 Reuter UPI PARIS, Mon. Portuguese Prime Minister Mario Soares is expected to receive only cautious French support for his country's bid to Join the European Common Market when he meets President Valery Glscard d'Estalng and Prime Minister Raymond Barre today. He will
      Reuter; UPI  -  378 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      46 2 Ofee Peter Benchley 'Better than JAWS, ever escalating shocks' -time 'Cracking entertainment' -DAILY TELEGRAPH 'For the second time -the book you can't put down' -DAILY MAIL Now on Sale at your regular bookshop Distributed by: TIMES DISTRIBUTORS SDN. BHD. Timet Houm, River Valley Roed, Singapore 9
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      0 2 :%)_`>)@+[,|$*&^|)|]![,[}\.>/;'
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      335 2 E WEATHER IE WEATHER report for 24 hours prior to 7.30 p.m. on March 7 at Singapore airport. Maximum temperature 30.5° C Associated humidity 60 Minimum temperature 22.5° C Associated humidity 89 Hours of sunshine 5.75 Rainfall in millimetres Nil Total rainfall for the month 12.2 Total rainy days for
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      90 3 WHAT'S RAINIER DOING 9 v> We're a bank that's known for its unique knowledge of Alaska and the Pacific Rim. Our international expertise also extends to Europe. So, if you do business in the British Isles or on the Continent, our London office can serve your banking needs. Our growing
      90 words
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  • COMPANY NEWS
    • Article
      Sembawang Shipyard suffers setback
      424 4 FOR the year ended Dec 31, 1978 Sembawang Shipyard suffered a setback of 11.2 per cent In pre-tax profit to $25.75 million compared with $29.01 million In 1975. The decline In earnings the first since It began operations In December 1968 was predicted by Its chairman,
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    • Article
      DIVIDENDS ANNOUNCED
      284 4 Current Ex Date Total for Total for M. Tobacco payment Date payable the year previous year 35% Feb 7 Mar 18 40% Wilkinson Process 15% Mar 7 Mar 24 39 1 Ha Idrii Hyd 30%I Mar 25 00%I 71.5% Ts-njong Tin 13.3%I Mar 25 28.7%I 30.9% A. Amalgamated
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    • COMPANY MEETINGS
    • Article
      PEOPLE IN BUSINESS
      55 4 MR. W. G. Ferguson has resigned as managing director of Aluminium Company of Malaysia Berhad with effect from Feb 28. Mr. D. P. Crilly has been appointed managing director with effect from March 1. Mr. J.K. Laurence has ceased to be alternate director to Mr. W.G. Ferguson
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    • Article
      Profit at Tronoh Mines shows improvement
      711 4 THOUGH Tronoh MIDJS& Malaysia was only able to raise 1978 profit by si* per cent, the results are much better than the forecast made In November last year vhen It transferred Its domicile from the UK. Higher tin prices, Increased contributions by associated companies
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    • Article
      RECORD OUTPUT BOOSTS INCOME AT AYER HITAM
      417 4 RECORD production and' the buoyant tin price were behind the spectacular set of results reported by Ayer HI tarn Tin Dredging In the first half-year ended Dec 31, 1976. Tin ore production rose to 47,999 plculs from 20,811 plculs last time while the
      417 words
    • Article
      Huge jump in earnings at Central Sugars
      586 4 AS expected, Central Sugars has reported a huge Jump in after-tax profit to M 53.4 million for the year ended June 30, 1976. This Is a near six-fold increase over the profit of $690,151 in the previous year. A gain In the sale
      586 words
    • Article
      UMW's deadline
      57 4 UNITED Motors Works (Malaysia) Holdings has said that Its register of loan stockholders will be closed from April 11 to 16, both days Inclusive. i A company statement on March 7 says this is for payment of Interest to holders of Its BVi per cent Ms 9 million
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    • Latest results
      • Article
        HUME INDUSTRIES (FAR EAST)
        76 4 Group pre-tax profit $3.37 million ($7.44 million) for the first six months ended Dec 31, 1978. Gross sales $80.53 million ($58.53 million). Trading profit $2.83 million ($7.08 million), investment Income $540,000 ($378,225). Tax $1.82 million ($3.22 million) leaving after-tax profit $175. million ($4.22 million). Net profit
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      • Article
        DUNLOP ESTATES
        72 4 Audited after-tax profit M 57.4 million ($3.5 million) for the year ended Dec 31, 1978. The profit is after further provisions totalling $900,000, comprising a contingent liability of $800,000 and debt of $300,000. Final dividend 11 per cent on both ordinary and deferred shares, making a total of
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      • Article
        AOKAM TIN
        66 4 Estl- mated profit after depreciation and depletion but before tax M 88.35 million ($8.89 million) for the first half-year ended Dec 31, 1978. Surplus on buffer stock $1.03 million (nil), tax $4.99 million ($5.2 million leaving net profit $4.39 million ($3.49 million). Tin ore output 18,904 Slculs (22,278
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      • Article
        HOTEL MALAYSIA
        34 4 Consolidated pre-tax profit $489,451 ($1.4 million) for the year ended Sept 30,1978. Tax $1,040 ($480,000), extraordinary debits $70,089 ($272,757) leaving net profit $398,322 ($852,270). First and final dividend five per cent (same).
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      • Article
        WILKINSON PROCESS RUBBER
        46 4 Consolidated pre-tax trading profit M 52.58 million ($3.38 million) for the year ended Sept 30 1978. Turnover $12.12 million ($13.82 million). Tax $1.09 million ($1.33 million) leaving $1.47 million ($2.06 million). Final dividend 15 per cent, making 20 per cent (23 per cent).
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      • Article
        OLYMPIA PLYWOOD AND TIMBER PRODUCTS
        40 4 Audited pre-tax operating profit M 51.71 million (loss $788,853) on sales $11.94 million ($3.29 million) for year ended Oct. 31, 1978. First and final dividend six per cent tax exempt (nil) payable on April 15.
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    • Article
      Lock icon Toyo Menka
      55 4 Reuter LONDON, Mon. Toyo Menka Kaisha plans a US$3O million five-year Eurobond, under the guarantee of Tokal Bank, lead managers Nikko Securities and Morgan Grenfell annor FheTOupon Isexpected to be 7-3/4 per cent. The issue price, to be fixed in the light of market conditions on March 14,
      Reuter  -  55 words
    • Article
      Lock icon 'The right bank in the right place'
      815 4 N YT NASSAU, The Bahamas, Mon.— Towering over the Nassau airport customs area, side by side with the ads for Coppertone and Beachfront hotels, are the banners of the banks: Bank of Montreal, Canadian Imperial Bank of Commerce and Citibank "the right bank
      N YT  -  815 words
    • Article
      Lock icon Hitachi
      50 4 Reuter TOKYO Mon. Hltchahi Shipbuilding and Engineering said It received a 7:75 billion yen order for of a 48,000 gross-ton Liquefied Petroleum Gas (LPO) tanker for delivery by the end of 1978 from Yuyo Shipping. This is the first LPG tanker order it has received since 1974, Hitachi said.
      Reuter  -  50 words
    • Article
      Strong growth at Centrale
      135 4 AMSTERDAM, Mon. Centrale Rabobank, Holland's dominant cooperative banking group which specialises in agricultural lending, reports a "strong" growth of business volume in 1976 and "satisfactory" earnings. It said that interest margins would probably remaln under pressure. Nevertheless there was some optlmkm about containing costs so that
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    • Article
      Lock icon Brokers could face a trying time
      1530 4  -  By JAY PALMER: New York FT EXXON and New York City's Chemical Bank do not have that much In common and, whatever their other qualities, neither is best known for Its financial daring and trail blazing. Nevertheless, during the course of 1976 both Institutions
      FT  -  1,530 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      348 4 Good reading on from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with Nixon,
      348 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon ATT reaps benefit from associates
      813 5 NYT NEW YORK, Mon. American Telephone and Telegraph, thanks to the rising profitability of its 21 operating subsidiaries, is prospering mightily. Basically a holding company, AT and T owns all of the affiliates outright except for six, in which its stake ranges from 16.8 per
      NYT  -  813 words
    • Article
      Lock icon GE raises spending
      103 5 Reuter FAIRFIELD, Conn. Mon. General Electrlc's capital spending In 1977 should Increase about 15 to 20 per cent over re 76's U*****.4 million, the company said In Its 1976 annual report. It also said that despite last year's outlay, Its total cash and marketable securities in excess
      Reuter  -  103 words
    • Article
      Timor Oil
      63 5 SYDNEY, Mon. Unaudited net consolidated operating profit at Timor Oil was A$ 19,000 in the first half-year ended Dec 31, 1976. In the previous corresponding period, it suffered a loss of $31,000. Revenue rose to $25,000 from $16,000 last time. Timor said It has formalised the surrender and
      63 words
    • Article
      Lock icon Further diversification may harm Dekalb operations
      483 5 NYT NEW YORK, Mon. Energy Is a glamour business these days, but diversification Into the field may prove harmfully distracting for some companies. At least that Is how the OTC Review, a publication devoted to stocks traded over the counter, sees Dekalb Agresearch's diversification
      NYT  -  483 words
    • Article
      GM-Holdens
      29 5 MELBOURNE, Mon. General Molors-Holden's said the price of Its four major car models will rise an average 2.01 per cent today. The prices Justification tribunal approved the rise.
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    • Article
      Lock icon Bergen Brunswig counts the cost of taking on Medicaid
      632 5 NYT NEW YORK.Mon. When Bergen Brunswig, a wholesale drug distributor, took on a US$4O5 million contract last year to administer North Carolina's Medicaid programme through computerized processing methods, some Investors assumed that the company would soon teach the bureaucrats a lesson
      NYT  -  632 words
    • Article
      Lock icon More loan for Mary Kathleen
      296 5 Reuter MELBOURNE. Mon. Mary Kathleen Uranium (MKU) said Its major shareholders, the Australian Government and Conzlnc Rlotlno of Australia (CRA). agreed to provide up to As 6 million to cover Its requirements until May 31, 1977 The Government will make ASI.B million loan and CRA
      Reuter  -  296 words
    • Article
      W-Lambert proposes payout increase
      223 5 NEW YORK, Mon. Despite a fall In 1976 profit, Warner-Lambert chairman, Mr. E. Burke Glblln, said he plans to propose an increase In the quarterly dividend rate to directors at the board meeting next month. Mr. Glblln did not say how much the Increase would be.
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    • Article
      Lock icon Philips Swiss bond issue may not be repeated
      182 5 Reuter ZURICH, Mon. The five per cent coupon on the recent Swiss bond issue by Philips will probably not be repeated for the time being, Schwelzerlsche Kredltanstalt general manager Ralner Out said. Mr. Out, who is responsible for capital market issues, told
      Reuter  -  182 words
    • Article
      Bancal replies to Exchange
      110 5 SAN FRANCIS-X), Mon. Bancal Trl-State knows of no reason for the sharp rise in the price of its stock, a company spokesman told Reuter In answer to an Inquiry. Trading In the stock was halted on the New York Stock Exchange because of an imbalance of
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    • Article
      Lock icon Bankers find hidden losses
      858 5  -  ATAKA BALANCE SHEET By Robert Wood: Tokyo Depthnews BANKERS are discovering vast hidden losses and confusion on the balance sheet of Ataka, a US$7 blllion-a-year Japanese trading house that collapsed more than a year ago. The discoveries lead economists to doubt the solvency of the other
      Depthnews  -  858 words
    • Article
      Jeumont – Schneider sees sales rise
      192 5 Jeumont Schneider sees sales rise PARIS, Mon. JeumontSchnelder, the engineering and electrical subsidiary of the Franco-Belgian Empaln Group, has announced a 12 per cent rise In sales to Frs.l.6 billion In 1976. In spite of relatively unfavourable market conditions, orders last year totalled more than Frs.2 billion an Increase of
      192 words
    • Article
      Lock icon BHAS expansion
      96 5 Reuter MELBOURNE, Mon. Broken Hill Associated Smelters said it will spend As2o million between now and June 1979 to extend Industrial hygiene and emission controls at its Port Pirie, South Australia, leadzinc smelter. The work mainly Involves expanding the existing sulphuric acid plant's capacity to 90,000 tonnes a
      Reuter  -  96 words
    • Article
      NK issue
      29 5 LONDON, Mon. The Norges Kommunalbank 100 million mark seven per cent issue, due 1989, was priced at 99V» per cent, Westdeutsche Landesbank Olrozentrale said as lead manager.
      29 words
    • Article
      Lock icon A modest dividend rise from Socal?
      341 5 Reuter SAN FRANCISCO, Mon. Analysts following Standard Oil of California say there Is a good possibility the company will modestly Increase Its dividend this spring. Socal Is currently paying 55 US cents quarterly, which works out to a yield of 5.5 per cent based
      Reuter  -  341 words
    • Article
      Goodrich new tyre
      84 5 DETROIT, Mon. B.F. Goodrich said It has developed a new radial tyre which never goes completely flat and which could eliminate the need for spare tyres. The tyre supports Itself by Its Internal structure and, In the event of air loss, the carcass of the tyre carries
      84 words
    • Article
      Lock icon Investors should pay for research separately
      528 5 NYT NEW YORK. Mon. A professor of law at New York University with a Jaundiced view of Wall Street research suggests that mutual funds and other Institutional investors pay separately for research not through commission dollars and that they be discouraged from buying fundamental
      NYT  -  528 words
    • Article
      ECSC
      35 5 LUXEMBOURG, Mon. The European Coal and Steel Community said It has begun negotiations to raise US$25 million through a private placement of per cent notes with a life of five years and eight months.
      35 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      153 5 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business limes BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Sufipfe mail Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei. Sarawak. Sabah Australasia/Pacific (excluding Hawaii) Africa.
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  • Article
    Share Information Service
    2096 6 \mvn High Low Company Last Sale +orGr'i dlv Div e'rr Gr'» Net P/E Vol C000) Day High Low SECTION ONE INDUSTRIALS 175' 133 200 100 237 186 201* 204 248 400 133 128 172 80 185 66 127* 149 172 382 Acma Acma A Alcom Allied Choc
    2,096 words
  • Article
    Transactions in Singapore
    1056 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 word "Sett". Big Board deals
    1,056 words
  • Article
    In Kuala Lumpur
    1268 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 INDUSTRIAL 6 A«ma (1418 1.438). A. Tap* (0.5248 0.548). Ajlnamata (1.968). AI cam
    1,268 words
  • Article
    Stock options
    148 6 STRIKING price* of the atock option* officially listed on the Stock Exchange of Singapore, the period*, bid and offer price* and hutiness done yesterday, with the number of options traded shown in brackets. D.B.S. (June S3 90) (o 235) (2 0 23*. (3) 0.23 Inchcape (June $2.40) (0.218
    148 words
  • Article
    Unit trusts
    151 6 SINGAPORE UNIT TRUST (Manager's price* for Mar 8) INCOME BOND UNIT (Current price*) The Commerce 1.77 The Saving Fund .0 83 S pore Pro* Fund 0 82 S pore Security Fund 1 38 Spore Invest Fund 106 1.87 0 98xd 0.87 1.46 1.12 INCOME BOND ..1.10 116 MARA
    151 words
  • Article
    Corporate bonds
    168 6 B O T 8 1/2* 1981 (100,000) (102%8 103 1 .S) D B S 8 1/2* 1982 (100.000) (1008 100SS) DBS Converts 6 1/2* 1991 (100,000) (96' iB 97VaS) E I B9* 1982 (100.000) (103'»B 104 WS) E I B 8 1/2* 1983 (100.000) (99H8 100HS) I B
    168 words
  • Article
    Domestic govt bonds
    119 6 5 1/2* 1/12/77 (1.000.000) (101.558 101.655) 5* T F 1/3/78 (1.000,000) (102.708 102.855) 5 1/2* 15/4/78 (1.000,000) (101 608 101.755) 5 1/4* 15/7/78 (1,000,000) (101.458 101 60S)(2)101.59 6 1/2* 15/8/78 (1,000.000) (103.358 103.505) 7* 1/7/79 (1.000.000) (104.858 105 008) 5 1/2* 1/10/77-79 (1.000,000) (101 608 101.755) 5
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      389 6 THE GREAT BOOKS of the WESTERN WORLD w SYNTOPICON 8 years and US$l, to complete designed for enjoyment 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 the whole family with an
      389 words
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  • Article
    Market in doldrums
    686 7 IT was another day of laekluatre trading at the Stock Exchange of Singapore yesterday as dabblers and investors continued to make themselves scarce. At the opening there were some tentative bids at higher levels but the buyer* could not absorb what the pool of sellers had to
    686 words
  • Article
    Prices end mixed in KL
    349 7 PRICES hovered within narrow limits to finish slightly mixed in dull trading In the Kuala Lumpur Stock Exchange yesterday. Though most speculative Issues were traded around last Friday's levels, a handful of Investment stocks posted small gains. There was also some continuing Interest In the
    349 words
  • Article
    Leyland Australia
    61 7 SYDNEY, Mon. Leyland Motor Corp of Australia said It raised $14.5 million bv the Issue at par of $1.00 redeemable cumulative preference shares carrying a variable interest rate to selected Australian Institutions. The shares were allotted today and are to be redeemed on August 15, 1981. The Issue
    61 words
  • Article
    Lock icon CBOE, Amex battle over options trading
    699 7  -  By LEONARD SLOANE: New York NYT WHILE the New York Stock Exchange and the American Stock Exchange apparently move closer to a merger of their securities trading activities, a comfetltive battle Is heating up etween Amex and the Chicago Board Options Exchange over the
    NYT  -  699 words
  • OVERSEAS MARKETS
    • Article
      Tokyo
      502 7 TOKYO: The market closed lower In light trading, with buyers holding off In the absence of fresh stimuli, dealers said on Monday. The Dow Jones average declined 29.24 to 5,034.52 with volume 180 million shares. The New index was 378.80 down 1.41. Many shares Initially advanced on expectations the
      502 words
    • Article
      Hongkong
      373 7 HONOKONO: Share prices fell further on small selling In thin trading, amid continued lack of interest, dealers said on Monday. The Hang Seng Index fell 5.05 points to 422.88. Hongkong Bank, Jardlne Matheson and Swire Pacific all lost 20 cents to $20.00. >16.70 and $8.20 respectively, while Hongkong Land
      373 words
    • Article
      Manila
      166 7 MANILA: The market *u narrowly mixed, with oils slightly higher, minings easier and commercials unchanged, dealers said on Monday. Turnover fell to 5.41 million pesos from Friday's 6.83 million. Oalners Included Atlas Con A and B Bouquet Con B. Phil Overseas, San Miguel B and Oriental A. Unchanged issues
      166 words
    • Article
      Sydney
      386 7 SYDNEY: The market closed mixed with golds higher but properties and constructions lower, dealers said on Monday. The Sydney All-Ordinaries Index fell 1.48 points to 428.52. Central NarMmaa rose 15 to $3.20, GMK four tO 34, and Bougainville, OLD Mine*, WMC. CRA, North BH, Hamerilev, Peko-Wallsend and Woodsiae Burmah
      386 words
    • Article
      Bangkok
      81 7 MAR 07 Bahts Asia Fibre 126 1 Bangkok Bank 253 unch Bangkok Invest 158 -1 Bangkok-Metro-politan Bank Bat* 379 BerllJucker 173 Charoong Thai Wire 100 -3 Dumex Duslt Thanl Paber Merlin First Trust Indo-Thal J And J Ho 200 Jalaprathan Cement 84 unch KarnasuU Lee Kwang Mln Metal Box
      81 words
  • Article
    Lamson profit shows continued progress
    165 7 LONDON.Mon.- Boosted by good performances from the French, Dutch, Belgian and Italian subsidiaries, taxable profit of Lamson Industries showed continued progress throughout 1976 and the fourth quarter £050,000 million ahead of the corresponding period added £2.56 million., compared with £5.82 million which was after extraordinary
    165 words
  • Article
    ABN increases dividend
    214 7 AMSTERDAM. Mon. Algemene Bank Nederland (ABN), Holland's largest commercial banking group, has reported 1978 net profit of Fls 205.8 million, up 10.4 per cent on the year before. The bank's supervisory board proposes to raise the total dividend by Fls. 1.50 to Fls. 22.50 per ordinary share
    214 words
  • Article
    Lock icon Credit markets deflate
    673 7  -  By JOHN ALLAN: New York NYT AFTER a puff of optimism last Wednesday ana Thursday, the credit markets deflated on Friday as some traders became disappointed that unemployment did not Increase more than It did a twist in the economic news that seemed to Indicate business activity
    NYT  -  673 words
  • Article
    Foreign bond issues in US will rise
    479 7 TOKYO, Mon. Mr. J Arthur Urciuoll, director of International finance at Merrill Lynch, Pierce, Fenner and Smith, said he thinks foreign bond issues In the US this year will "comfortably exceed" US$lO billion, up from $9.85 billion in 1970. In an interview with
    479 words
  • Article
    Madame Tussaud's
    81 7 LONDON, Mon. After an advance at halfway from £298,000 to £320,000, pre-tax profit of Madame Tussaud's for 1976 improved from £lm. to £1.23 million on turnover ahead at £3.01 million against £2.52 million. Stated earnings are up from 2.3p to 2.79p per 5p share, and the dividend total
    81 words
  • Article
    First-year profit for Deutsch-Skand Bank
    432 7 FRANKFURT, Mon. The marriage of convenience i between Scandinavia's largest commercial bank and West Germany's largest landesbank appears to have been more successful than a good many matches. The Frankfurt-based Deutsch Skandlnavlsche Bank's annual report shows that It not only comfortably exceeded the initial projections
    432 words
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      Page 7 Advertisements Column 1
      425 7 THE SYNTOFTCON The Syntoplcon now makes It possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, justice or almost any topic conceived by the human mind. The Syntoplcon can guide your hand to the proper volume. Your eyes are directed to
      425 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      674 8 AFTER opening 0.50 cent lower the Singapore rubber market yesterday lost further ground on lack of Interest In thin trading. The morning session closed very quiet with March RSS One buyers quoted at 199.75 cents per kilo, down one cent from last Friday's close, dealers
      674 words
    • Article
      Closing prices
      31 8 Rubber: Mar 7 Singapore: Mar. 199.50 eta. (down 1.25 eta.) Malaysia: Mar. 203.00 eta. (down 1.00 ct.) Tin: <1,620.00 (up 513.87 V*) Official offering: 246 tonnes (up one tonne).
      31 words
    • Article
      SSR and SMR
      95 8 R.A.9. Mar (Current Mth) Buyer* Seller* (cenu per k() A|r (Forward Mtk) Buyer* Seller* (cent* per kg) SSR20 SSR50 (1-ton Pallet) (1-ton Pallet) 189.50 187.00 191. SON 189 OON 191.00 188 SO 193.00N 190 SON M.R.EL.B SMR5CV SMR5L SMR 5 SMR 10 SMR 20 SMR SO (1-ton
      95 words
    • Article
      Gold
      217 8 IN the Singapore gold market yesterday, the kilobar was traded In the range of 5511,740 to 5511,780. The loco London gold opened at U*****.30/ 147.70 and on good buying support went up to U*****.60/148.00 before some small scale profit-taking depressed the price down to U*****.00/ 147.40 at which point
      217 words
    • Article
      Straits tin
      147 8 THE Straits tin price In Penang yesterday, was up $13.87 1/2 to $1,620.00 on an official offering up one tonne to 246 tonnes. In LONDON yesterday, tin showed gains of around £37 for Cash and Three Months In both contracts. Initial pre-market strength following the advance at Penang
      147 words
    • Article
      Tin shipment
      69 8 Shipment of Straits reflried tin from Penang for the month of February, 1977." This Period Jan/Feb, 1977 Shipped Afloat Shipped DESTINATION tonne* tonnes tonnes Australasia 2.00 Canada 5.00 10.00 Continent 3,838.00 25.50 6,015.00 India 23.50 1.50 187.75 Japan 833.75 69.00 1,860.75 Middle East 8.00 84.50 Pacific 303.50 47.00
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    • Article
      Copper
      135 8 LONDON, Mon. Copper wire bars finished with gains of fully £4 for Cash and £5.50 for Three Months in the morning. On the pre-market, up to £912 was paid for Three Months based on the Friday's New York trend, higher gold and continued bullish sentiment for base metals, dealers
      135 words
    • Article
      Silver
      95 8 LONDON, Mon. Silver finished with net gains of 5.6 to 6.5 pence per troy ounce In the morning. Premarket strength produced business in Three Months at a new record 295 pence reflecting gains at New York on Friday, firmness in gold, and higher base metals, dealers said. Subsequently, the
      95 words
    • Article
      Lead
      84 8 LONDON, Mon. Lead lost £3.75 for Cash and £4.50 for Three Months in the morning. The early pre-market firmness reflected the Sneral trend with Three onths trading up to £451 per tonne. This soon gave way under long liquidation, profittaking and later stoploss selling which, dealers said, was based
      84 words
    • Article
      Zinc
      94 8 LONDON, Mon. Zinc rose by £9.50 for Cash and £11.25 for Three Months In the morning. Aggressive fresh buying In the pre-market took Three Months up to £455 per tonne, a new high for the current movement. But profit-taking and some hedge selling parkl the gain to £450 paid
      94 words
    • Article
      Sugar
      73 8 LONDON, Mon. Terminal opened £0.50 to £0.40 higher In sales of 243 lots. Dealers said the market displayed little Immediate reaction to the Rumanian earthquake as Rumania Is currently In between crops. Otherwise there was no news. Quiet conditions persisted and prices finished the morning £0.30 down to £0.25
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    • Article
      Produce prices
      121 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut CMI: Bulk 996 sellers, old drum 9100 sellers, new drum 9109 sellers. Copra: Mixed (loose) UK/Cont. 992 buyers. Pepper: Muntok AST A white f.o.b. 100* NLW 9360 sailers, Sarawak white f.o.b. 9944 NLW 9340 sellers. Sarawak special
      121 words
    • Article
      Sugar vs corn syrup dilemma
      662 8 WASHINGTON, Mon. The Carter adminlstraUon, considering steps to protect the ailing domestic sugar Industry, is caught In a dilemma: How to cure the patient without killing him. SltUng by like an undertaker Is a competitor, the corn refining Industry, which has been making inroads Into
      662 words
    • Article
      Coffee
      101 8 LONDON, Mon. Terminal opened strong £225 to £280 per tonne higher on trade and speculative buying and short-covering, touched off by the news over the weekend that Brazil had raised coffee export prices and taxes. Sales at the opening call totalled 1,021 lots. During the morning, prices established new
      101 words
    • Article
      Rice
      215 8 BANGKOK, Mon. Indicative prices for rice quoted were: US dollar* per tonne fob bull Bangkok White Rice: 100 per cent lit class 293 100 per cent 2nd 277 100 per cent 3rd 272 5 per cent 282 10 per cent 242 19 per cent 230 20 per cent 236
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    • Article
      Lock icon Germans resist raw material fund plan
      271 8 Reuter BONN, Mon. West Germany maintains its strong opposition to a special international fund for an Integrated raw materials programme, Economic Ministry sources said. The sources were commenting on next week's meeting in Geneva to discuss establishing the fund, demanded by developing countries. 'Our
      Reuter  -  271 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      511 8 THE Singapore domestic money market saw falls In overnight rates and shortdated deposit funds yesterday. Overnight rates fell three points from five per cent to close at two per cent. The bulk of the day's business were reported dealt at around 3Vt to three per cent with some at
      511 words
    • Article
      Asian $ rates
      158 8 Asian rates ASIAN currency deposit Interbank rates u at ck>ee on March 7. US Dollar* Spot > 7 dan 1 mth 2 mtha 3 mths mtha 9 mthf 1] mtha 47/t 4 15/H 51/8 s via sva 5 7/S 1/1 9m. fn. 4V4 «i via 4 15/ia 5 1/10 a
      158 words
    • Article
      Discount
      48 8 RANGE or prta m offend by dlacount houwi on March 7 Overnight V. to JH Call depot it 3% ■fir" 9* IUa( J-Month Treasury billa 3 27/t 3-Month Bank* bills 4 1/18 3 14/18 3-Month* CD 43/t 41/4 8-Month* CD 4 0/16 43/t Source: National Discount Co
      48 words
    • Article
      Minimum lending rates (in %)
      56 8 Minimum lending rates (in ACBC Algemene Bank g% Bangkok Bank ..7 Bank of America 9* Bank of China .7 Bank of Tokyo 6* Bank Negara Indonesia 7 First Chicago 6*. Citibank HSBC 7 Indosuez t* Malayan Banking 9% Mitsui Bank 6* OCBC OUB Wfc Chartered Bank Chase Manhattan W DBS
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    • Article
      London
      159 8 LONDON, Mon. Major currencies opened quietly In Europe, with little fresh movement. Sterling traded at $1.7141/44 against $1.7140/43 on Friday, with the continued Industrial disruption at the British Leyland Vehicle Oroup falling to exert any pressure on the exchange rate, dealers said. The dollars moved to 2.3890/3900 marks from
      159 words
    • Article
      Hongkong
      119 8 HONGKONG, Mon. The US dollar was quoted at HK54.6230/50 In late trading, little changed from Friday's two year low of $4.6220/50, dealers said. The US unit fell briefly In early trading to Just below the $4.62 mark but soon recovered. Trading was quiet and the local money market remains
      119 words
    • Article
      Tokyo
      153 8 TOKYO, Mon. The US dollar for overnight dellvery closed lower at 281.65 yen, compared with 282.00 at the opening and 281.90 at last Friday's close, mainly on selling of dollars by exporters, dealers said. The US unit was initially higher on converlng of Import settlement needs by banks and
      153 words
    • Article
      Australia/NZ
      53 8 AUSTRALIA/ NZ exchanges quoted on March 7 Australia: Sterling 0.6441/ 0.6370 US dollars 1.1009/ 1.0961 Ninety-day air mall buying rates: Sterling 0.6696 US dollars 1.1259 Ninety-day forward buy- ing rates: Sterling 0.6529 US dollars 1.0938 New Zealand: sterling 0.5587/ 0.5556 US dollars 0.9628/ 0.9528 Ninety-day forward rate: Sterling 0.5912
      53 words
    • Article
      Short term money
      61 8 FOR the week ended Saturday, March 5, 1977, the range of call rates received from Short Deposits (M) Berhad was as follows:BANK FUNDS: 3/4 per cent to 1 1/4 per cent GENERAL FUNDB: 3/4 per cent to 4 per cent Movement of funds totalled $336 million. N.B.
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    • Article
      Euro $ rates
      156 8 Euro rates LONDON, Mon. Eurodollar deposits opened virtually unchanged from Friday's closings and held steady In early very quiet conditions, dealers said. Prime names were again absent from the market continuing last week's trend, with these operators having sufficient funds to finance their requirements and reluctant to expose themselves In
      156 words
    • Article
      Frankfurt
      34 8 FRANKFURT exchanges opening quotes on March 7 US 2.3878/ 93 2.3870/80) Can 2.2745/65 UK 4.090/105 Neth 95.82/97 Swltz 93.65/80 Italy 2.695/710 France 47.90/48.05 Norw 45.63/71 Belg com 6.507/522 Belg fin 6.51/53 Japan 0.8478/88
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    • Article
      Eurobond prices
      342 8 LONDON, Mon. Straight dollar bonds were largely unchanged to slightly firmer dealers said. Some bargain hunting was seen among established bonds but recent new issues generally held Friday's levels. US dollar convertibles were about V* point higher In places In quiet trading while Japanese domestic Issues such as
      342 words
    • Article
      KL Treasury bills
      73 8 KUALA LUMPUR, Mon. Bank Negara said it awarded MSSO million of 91day bills at an average rate of 3.104 per cent (same) and 140 million of 182-day bills at 3.903 per cent (4.193 per cent). The bank accepted bids ranging between 3.015 and 3.329 per cent (3.002
      73 words
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      Page 8 Advertisements Column 1
      473 8 it V f Southeast Asia has as many faces as there are eyes in a peacock's tail— And the Straits Times Annual has painted them all, in peacock-colours. Living up to a long-established record of quality reporting on the culture, on history and social fabric of our region, this year's
      473 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon Coast Guard gets tough on tankers
      1326 9  -  By JOHN SIMS in N*w York UPI THE Coast Guard tug Wire cuts across New York harbour with Lt. Cmdr. William Bo land and Lt. Rich Asaro, of the Coast Guard's Marine Inspection Office, in the tiny deckhouse squinting at ships anchored in Stapleton
      UPI  -  1,326 words
    • Article
      Lock icon Choices are few over Leyland
      581 9  -  By PETER KILBORN in London NYT EIGHTEEN months ago, Britain nationalised its biggest automobile company, British Leyland, and saved it from likely collapse. But after spending more than US$45O million (SII,OBO million), the government is beginning to wonder now whether it made a colossal mistake
      NYT  -  581 words
    • Article, Illustration
      IN PORT
      290 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Dong Nam (1630 subject free board) 19 Fernandoeverett (2000) 8/9 Qemblra (1900 after Kim Ann) 45 Olsco Maru (JYPC) (1500 subject free board) 25/26 Harunasan Maru (2300) 44 Kunak (1700 after Rajah Brooke) (Will shift to Gdn. 27 1830/9 th) (Agent's request) 20
      290 words
    • Article
      Lock icon Nader takes on 'the world's largest travel organisation'
      679 9  -  By RALPH SLUMINTHAL in New York NYT THERE were some 23.000 motor cars and 17 million horses In the United States on March 4, 1902. when members of nine fledgling automobile clubs met In Chicago and founded the American Automobile Association. Seventy-five
      NYT  -  679 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      558 9 ARRIVALS Service Operator Number Local Time 1 i From CAL TMA MAS JAL SIA OIA OIA SAS RBA SIA SIA MAS OIA OIA MAS SIA SIA OIA CPA MAS SIA OIA CAL BA MAS SIA SWR OIA ANZ JAL KLM SIA SIA KLM MAS SIA CI331 TL303B
      558 words
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      Page 9 Advertisements Column 1
      427 9 KriHfifSS MC P" W2A/77 VOL l HOI FWWVW7 r. The people who matter already know us. Join them. Get a copy from your newsvendor or mail this coupon now and get a free slip-case which will hold the 12 issues. Subscribe now and get 12 issues of Singapore Business and
      427 words
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  • Article, Illustration
    Oil palms on ex-tin land show results
    1069 10  -  By KEVIN RAFFERTY in Kuala Lumpur OIL PALMS planted a few years ago on tin tailings at Berjuntal are bearing fruit and doing so well that some experts believe it may be possible to turn tin scoured land Into flourishing oil palm and
    1,069 words
  • Article
    Lock icon Foreign interests buy up British companies
    951 10  -  By ROY LEVINE in London Financial Times News Features Features THE FOREION Invasion of Britain continues first only In the High Street, now also on the stock market. The fall In the value of the pound has made British companies cheap for foreign entrepreneurs.
    Financial Times News — Features; – Features  -  951 words
  • Article, Illustration
    Lock icon After 150 years life comes back to Macau
    1074 10  -  By DANIEL NELSON in Mocou Financial Times News-Features A SERIES of advertisements referring to Hongkong as "an airport on the edge of Macau" has ruffled a lot of feathers In the British colony. It provides a controversial illustration of the new spirit
    Financial Times News-Features  -  1,074 words
  • Article
    Lock icon Cuba ready to buy US goods if trade embargo is lifted
    587 10  -  By CLAUDE ERBSEN in Havana AP IF THE United States lifts its 17-year-old trade embargo, Cuba is ready to buy a wide variety of American goods, ranging from foodstuff* to heavy industrial equipment, Cuba's top trade official says. In
    AP  -  587 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      357 10 NEW DIRECTIONS The magazine that actually says what you have been thinking j, all along. JgjfcLr 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
      357 words
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  • Article, Illustration
    Lock icon ARAB – AFRICAN MEET OPENS
    471 11 ARAB AFRICAN MEET OPENS AMIN'S PRESENCE MAY 'ENDANGER' SUMMIT UPI CAIRO, Mon. A first-ever Arab-African summit conference opened today, Joining princes, presidents and prime ministers from 58 countries In an attempt to rise above their longrunning feuds. Among the chiefs of state participating was Ugandan President Idl Amln, who was
    UPI; AP photo.  -  471 words
  • Article
    Lock icon Indira 'tries' to patch up with the US
    449 11 AP WASHINGTON, Mon. The United States and India are seeking a political reconciliation that could mean a reduction in New Delhi's reliance on the Soviet Union. India's plans for national elections this month may help the process. US and Indian political experts
    AP  -  449 words
  • Article
    Lock icon Marcos 'yes' to more trade with Viets
    132 11 UPI MANILA, Mon. President Marcos today approved a recommendation of the Chamber of Commerce of the Philippines (CCP) to expand trade with Vietnam. The Chamber sent an eight-man mission, headed by CCP President Fred Ellzalde. to Vietnam last February 2-9 and reported to
    UPI  -  132 words
  • Article
    Lock icon HK traders urged to sell more in France
    138 11 Reuter HONGKONG, Mon. Hongkong Trade Development Council Chairman T.K. Ann has urged manufacturers here to step up their marketing activities In France. In a statement Issued yesterday following a visit to France, he said manufacturers here should follow up the Council's promotional
    Reuter  -  138 words
  • Article
    Lock icon Philippines sells more copra
    57 11 Reuter MANILA, Mon. Philippine exports rose to 45,473 longtons in February from 35,877 in January, but were below the 97,602 tons In February 1976, Philippine coconut authority statistics showed. This brought copra exports for the first two months of 1977 to 81,150.33 long tons compared with
    Reuter  -  57 words
  • Article
    Lock icon FUKUDA TO INVITE CARTER TO JAPAN
    188 11 UPI TOKYO, Mon. Prime Minister Takeo Fukuda will Invite President Carter to visit Japan either late this year or next year, the Kyodo News Agency said today. Quoting high government sources, Kyodo said Mr. Fukuda will formally extend the invitation to Mr Carter when
    UPI  -  188 words
  • Article
    Lock icon Thai cop killed, 5 hurt in Khmer clash
    276 11 Reuter BANGKOK, Mon. A Thai Sollceman was killed and ve wounded In a clash with Cambodian troops near the border, a border patrol police spokesman said today. He said the clash took place yesterday at Nol Parai village In Aranyaprathet district, east
    Reuter  -  276 words
  • Article
    No drop in public sector output says union
    236 11 KUALA LUMPUR, Mon. The Malayan Technical Services Union (MTSU) has sent a memorandum to Deputy Prime Minister Dr. Mahathir Mohamad expressing disagreement with the Cabinet Committee's view that productivity in the public sector has declined since independence. The Cabinet Committee made the
    236 words
  • Article
    Power for rural areas study
    183 11 KUALA LUMPUR, Mon. The National Electricity Board (NEB) signed an agreement today with Middle West Service Company of Chicago to undertake a study on rural electrification in peninsular Malaysia. About half the cost of the study would be covered by a loan from the International
    183 words
  • Article, Illustration
    Lock icon MANILA: AN IMPASSE THAT COULD BLOW UP
    816 11 UPI MANILA: Resolution of the bloody four-year Muslim insurgency in the southern Philippines has moved from the negotiating table of Lloyan leader Muammar Gaddafi, the rebels' chief patron, back to the jungles of this predominantly Christian republic's southern provinces. President Marcos announced that
    UPI  -  816 words
  • Article
    'Organising timber workers a good move'
    120 11 KUALA LUMPUR, Mon. Labour and Manpower Minister Datuk Lee San Choon said the Government welcomes the organisation of workers In the timber Industry particularly in the logging and extraction stages. This would pave the way for better working conditions for them, he added. He
    120 words
  • Article
    Lock icon Security talks after shooting at poll rallies
    273 11 Reuter JAKARTA, Mon. Indonesia's key military commanders today began a three-day meeting to discuss the security situation during the current general election campaign following shooting Incidents In campaign rallies In east Java. Security and Defence Minister General Maraden Panggabean, opening the meeting, said
    Reuter  -  273 words
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  • Article, Illustration
    Main issues of Industrial Act are resolved
    298 12 KUALA LUMPUR, Mon. Agreement has been reached within the consultative committee on most of the major outstanding Issues relating to the Industrial Co-ordination Act. Trade and Industry Minister Datuk Hamzah Abu Samah, who Is also the committee chairman, said today only a few
    298 words
  • Article
    Lock icon West cool to fund for buffer stocks
    181 12 UPI GENEVA, Mon. Developing countries faced cool reserve on the part of capitalist and communist nations today at the start of four weeks of negotiations on a proposed $6 billion (Ssls billion) fund to finance commodity buffer stocks. The conference was convened by
    UPI  -  181 words
  • Article
    Lock icon Japan's lion share of ship orders
    123 12 UPI TOKYO. Mon. Japanese shipyards had a ship order backlog of 15,256,000 gross tonnes at the end of last year, compared to 20,012,000 gross tonnes for 11 West European countries, the Transport Ministry said. Of Japan's backlog, 12,126 000 gross tonnes of ships were
    UPI  -  123 words
  • Article
    LONDON STOCKS
    728 12 LONDON. Mon The stock market closed quietly mixed. An earlier easier tendency was arrested after the February wholesale Index which showed only a moderate rise against the previous figure, dealers said At 3 pm the Financial Times Index was down 0.7 at 407.2. Long dated government bonds finished
    728 words
  • Article
    'Japanese unions have failed their poor brothers'
    272 12 JAPANESE trade unions have failed to give concrete development assistance to trade unions in developing countries and have given the impression of being opportunistic in their approach to international relations. This point was made by Mr. C.V. Devan Nair, Secretary- General of the
    272 words
  • Article
    Lock icon Accomplice in boycott charge
    103 12 Reuter JERUSALEM, Mon. The Jerusalem Post today charged the British Government with being an accomplice In the Arab economic boycott against Israel. The newspaper said In an editorial: "The statement by Britain's Trade Secretary Edmund Dell last week authorising British firms to comply with the Arab
    Reuter  -  103 words
  • Article
    Masuda holds talks with Hon
    91 12 MR. MINORU Masuda, Japan's Vice-Minlster for International Trade and Industry, had discussions yesterday with Finance Minister, Mr. Hon Sul Sen. and Economic Development Board chairman Mr. Nglam Tong Dow. Mr. Masuda, here on an unofficial visit, arrived in Singapore yesterday for talks on Japanese economic
    91 words
  • Article, Illustration
    More jobs now for registered seamen
    504 12 ILLEGAL RECRUITING CURB^RESULTS IN THE new procedures taken by the National Maritime Board (NMB) to curb the Illegal recruiting of foreign seamen by shipping companies here resulted In a substantial rise In the number of Jobs offered to seamen registered with the board, the
    504 words
  • Article
    Lock icon Envoy to sound out C'wealth leaders?
    450 12 Reuter LONDON, Mon. Britain Is considering sending a special envoy to Africa and Asia for talks with Commonwealth leaders in preparation for the Commonwealth Summit Conference here In June, informed British sources said today. They said the envoy would discuss the agenda of the
    Reuter  -  450 words
  • Article
    Lock icon Saudi contracts for four Asian countries
    331 12 AP NICOSIA (Cyprus), Mon. Saudi Arabia has awarded US$4OO million (SS9B4 million) worth of electrification projects to contractors in India, Pakistan, Taiwan and South Korea, the Middle East Economic Survey (MEES) reported today. The same projects originally had been offered to Western firms which
    AP  -  331 words
  • Article
    Lock icon Tourists keep away
    262 12 AP BANGKOK, Mon. Many foreign tourists are staying away from Thailand for fear of political unrest and the communist Insurgency and a number of hotels face closure unless this trend is reversed, according to the President of the Thai Hotels Association Bangkok and some other resort areas
    AP  -  262 words
  • Article
    Firm may set up a diving school here
    128 12 SAMSON Ocean Systems Is considering the setting up of a commercial diving school in Singapore to teach advanced techniques to local divers employed In the oil Industry. This was stated by Its vice-president (operations). Mr. David Watts, at the end of his
    128 words
  • Article
    SIM offers 3 courses next week
    120 12 THE Singapore Instltue of Management will conduct three courses from next week on techniques of cost accounting, module 1; effective engllsh and letter writing and workshop 2; and modern techniques and strategies for management problem solving. The first shows participants how cost accounting can
    120 words
  • Article
    Lock icon Asean meet
    33 12 Reuter JAKARTA, Mon Cattle experts from the Association of South-east Asian Nations (Asean) will take part in a week-long seminar on cattle breeding here next week, it was announced today. Reuter.
    Reuter  -  33 words
  • Article
    Lock icon Sadat's call to Third World
    493 12 Reuter CAIRO, Mon. President Anwar Sadat of Egypt today opened the first Afro-Arab summit with a call for Joint Third-World action to eradicate the traces of enslavement and exploitation. He was addressing leaders of 60 African and Arab states and the Palestine Liberation Organisation (PLO)
    Reuter  -  493 words
  • Article
    Lock icon Petition with 100,000 names
    163 12 Reuter TOULOUSE (France), Mon A petition with 100,000 signatures calling for New York landing rights for the Concorde supersonic airliner will be presented to New York authorities this week, the organisers said today. It results from a two-week campaign launched In this aircraft Industry centre, home
    Reuter  -  163 words
  • Article
    All round support for BUI
    72 12 THE Trade Unions (Amendment) Bill, now before Parliament, has been received favourably by employers and unions The Bill, which seeks to restrict illegal strikes, was felt to be helpful in restricting "wild cat" strikes and In enforcing more discipline In union ranks. Another belief was
    72 words
  • Article
    MINDEF, SIA SET UP REPAIR FIRM
    171 12 SINGAPORE Airline* and the MinisU-y of Defence have formed a joint venture company to overhaul and repair civilian and military aircraft engines. The company, called the Singapore Aero-Engine Overhaul (Private) Limited (SAEOL), hat an authoriaed capital of $20 million and a paid-up capital of
    171 words
  • Article
    Claim for $45,000 withdrawn
    85 12 ORIENTAL Piling yesterday withdrew a civil claim for $45,320 against JYS Enterprises following a settlement between the two parties. The claim was for alleged breach of contract. No details of the settlement were disclosed In the High Court. Mr. Justice D'Cotta made no order on costs.
    85 words
  • Article
    Lock icon Jordan gets UK loan
    52 12 UPI AMMAN, Mon. Britain has agreed to give Jordan a long-term loan of £9 million (5535.5 million) to finance Jordan's five-year development plan, an official announcement said yesterday. A British trade union delegation has been visiting Jordan and yesterday discussed the country's development plan with Crown
    UPI  -  52 words
  • Article
    Diesel plant in S'pore plans to expand
    411 12 CONFIDENT that there exists a hugh potential (or dlesel engines In the Far East, a Singapore-based dlesel engine servicing plant, MWM-Dlesel Far East, Is planning a series of expansion programmes to meet such Increased needs. Top priority among these plans are the installation
    411 words
  • Article
    Parker to decide by year-end
    187 12 PARKER Hannifin, the US manufacturer of fluidpower systems and components for Industrial, aerospace and automotive uses, will decide by this year the line of products It intends to manufacture In Singapore. Its manufacturing plant Is expected to be set up In Singapore within 18 months.
    187 words
  • Article
    'Spear' to tour region
    110 12 AN IMPROVED version of the 9.1 m "Spear" class fast patrol boat will leave England later this month on a two-month demonstration tour of Southeast Asia. It will call at Hongkong. Manila, Bangkok, Singapore, Jakarta and Port Kelang. The boat Is built and equipped as a
    110 words
  • Article
    Lock icon Jet engines for China
    113 12 Reuter MELBOURNE. Mon. Hawker De Havllland Australia has contracted to supply Jet engines and spare parts to China, the company announced here today. The firm said It had signed an agreement for an Initial order of two Allison 250 gas turbine engines and spare parts worth
    Reuter  -  113 words
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