The Business Times, 21 March 1977

Microfilm: NL9063
Total Pages: 10
1 10 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 MONDAY, MARCH 21, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lee meets Muldoon
      56 1 PRIME Minister Mr. Lee Kuan Yew yesterday met his opposite number from New Zealand, Mr. Robert Muldoon, who arrived for a three-day informal visit. Mr. Lee returned to Singapore on Saturday after a 10-day absence. He had spent three days in Hongkong and a week in Taiwan,
      56 words
    • Article
      Lock icon Masirah base for US
      61 1 UPI BEIRUT, Sun. American military attaches say it's "so classified we can't talk about it," but indications are that the US navy is thinking of shifting its Persian Gulf base from Bahrain to the island of Masirah, off the coast Oman. The British are now withdrawing
      UPI  -  61 words
    • Article
      Lock icon British Summer Time
      29 1 Reuter LONDON, Sun. Britons put their clocks forward one hour today to British Summer Time, making the country one hour ahead of Greenwhich Mean Time. Reuter.
      Reuter  -  29 words
    • Article
      Harun appeal today
      66 1 KUALA LUMPUR, Sun. The Federal Court will start hearing the appeal of Datuk Harun tomorrow against his sentence and conviction by the High Court in the Hongkong and Shanghai Banking Corporation case last year. On last May 18 Datuk Harun, was sentenced to two years' jail on
      66 words
    • Article
      Lock icon The stork in retreat
      80 1 AP ST. PAUL, (Minnesota), Sun. China has stemmed its population problem by strict birth control and compulsory sterilisation, an American doctor said after a three-week visit to mainland China. Dr. Jane Hodgson said birth control programmes in China have reduced the birth rate from 34 to
      AP  -  80 words
    • Article
      Lock icon To their mutual good...
      55 1 AP TOKYO, Sun. China and Vietnam signed a mutual supply of goods and payments agreement for 1977 over the weekend in Peking, the official Hsinhua News Agency said. It said the agreement was signed by Chen Chieh, Chinese vice-Minister of Foreign Trade, and Nguyen Chanh, Vietnamese
      AP  -  55 words
    • Article
      Lock icon Viva la Djibouti
      32 1 Reuter PARIS. Sun. France's last colony In Africa, the Red Sea enclave of the Afars and the Issas (Djibouti), will become independent on June 27, the Government announced. Reuter
      Reuter  -  32 words
    • Article
      Lock icon $295 mil tea deal
      52 1 Reuter COLOMBO, Sun. Libya will buy an estimated US$l2O million (***** million) worth of tea from Sri Lanka over the next four years under an agreement signed yesterday. The two countries also agreed to participate in joint agricultural and fisheries projects in Sri Lanka worth $10
      Reuter  -  52 words
    • Article
      Lock icon Egypt seeks canal loan
      82 1 UPI CAIRO, Sun. Egypt is requesting international financing for a US$l.l billion (552.7 billion) project to widen and deepen the Suez Canal so that It can accommodate supertankers by 1982. Canal tolls provide Egypt with about $180 million per year in badly needed foreign exchange. Egypt
      UPI  -  82 words
    • Article
      Lock icon Let's drink to that
      40 1 Reuter PARIS, Sun. Bordeaux wine exports reached record levels in 1976 for both volume and value, according to figures released here today. A total of 1,272,280 hectolitres worth 788,057,000 francs (Ss3B9 million) were exported In 1976.
      Reuter  -  40 words
  • Article
    TOP TEN STOCKS
    126 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It gives the turnover in thousands of units, closing prices on Friday and the high and low for 1976/77. Company T urnover Price* High Low two Mar 18
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  • LOCAL STOCK INDICES
    • Article
      SINGAPORE
      88 1 Mar 14 Mar 15 Mar 16 Mar 17 Mar 18 B.T. Index' 260 27 261.13 258 54 256.16 253 57 'Industrials: 252 44 252 94 252.15 251.03 249.55 (^Finance: 432.86 433.04 431 60 430.33 426 19 "Hotels: 158.55 158.78 158.55 158.41 158 41 'Properties: 141 43 141.51 141.63 141.63
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    • Article
      MALAYSIA
      105 1 Mar 14 Mar 15 Mar 16 Mar 17 Mar 18 t B T Index: 204 48 205 44 204.17 201.72 200.61 •Industrials: 276.25 276 10 275 33 274 59 273.9? <o)Finance: 364 10 363 81 362 23 361.04 357.ja "Hotels: 171.54 171.54 171 54 171 54 171 54 'Properties:
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  • Article
    Three S'pore banks do well in Japan
    1136 1  -  DESPITE THE RESTRICTIONS By QUEK PECK LIM DESPITE the onerous restrictions under which foreign banks operate in Japan, the three Singapore banks with branches In the country have managed to earn fairly substantial profits from their operations in the Japanese financial market. Figures
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  • Article
    NEW HEAD OF BARING SANWA
    102 1 BARING Sanwa Multinational, a merchant bank which has a branch in Singapore, has announced that Mr. Nicholas H. Baring has been elected chairman to succeed Mr. Shichlro Murai. Mr. Murai resigned from the board of BSM because of his recent appointment to Deputy President of
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  • Article
    Kuwait may fund Trengganu dam
    586 1 KUALA LUMPUR. Sun. The Kuwait Fund for Arab Economic Development is keen to help finance the $600 million multi-purpose dam on the Trengganu river Malaysia's biggest power generator due to be completed in 1984. It is also expected to grant a $20 million loan soon
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  • Article
    Singapore gets Asean accountancy role
    354 1 SINGAPORE has been entrusted with the task of promoting professional development among accountants In Asean. This will entail the undertaking of post-graduate training and education of accountants throughout the region. The Singapore Society of Accountants (SSA) has been appointed chairman of the standing committee on
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  • Article
    Lock icon Civil aviation talks
    121 1 AP HONGKONG, Sun. Mr. David Wong, Deputy Secretary for Economic Services, and Mr. B.D. Keep, Deputy Director of Civil Aviation, left this weekend for London for consultations with British officials on civil aviation matters, including air cargo rates. A Government spokesman said that after the meeting In
    AP  -  121 words
  • Article
    Lock icon Crucial vote this week may force British elections
    195 1 AP LONDON. Sun. APRIL 28 is the earliest possible date for a general election if the Labour Government it forced to resign next Wednesday in a crucial House of Commons vote, a spokesman at 10 Downing Street said this weekend. Prime Minister
    AP  -  195 words
  • Article
    FEBRUARY TRADE LOWER
    95 1 FEBRUARY trade figures, both imports and exports, dipped sharply in line with seasonal trends. Total imports and total exports both fell by 17 per cent compared to January figures, but compared to last February imports were up five per cent and exports 14 per cent, according to
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  • Article
    Lock icon Chaos unless the Three recover, says Fukuda
    605 1 UPI WASHINGTON, Sun. President Carter made final preparations over the weekend for his official talks with Japanese Prime Minister Takeo Fukuda on global economic and security problems tomorrow and Tuesday. Mr. Fukuda Is scheduled to arrive here late on Sunday afternoon after spending
    UPI  -  605 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      58 1 HsT MAF A lending hand when Wayfoong Mortgage you need and Finance (Singapore) Limited it lllOSt Shaw House Ground Floor. 3f>4 Orchard Road. Singapore 9. Tel: *****7 INSIDE Leisure/ TV Radio P2 Leisure P3 Leisure/ Crosswords P4 Overseas/ International Co. news P5 Local Co news/ Share information Overseas stocks P7
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    • Advertisement
      Page 1 Advertisements Column 2
      105 1 Banking services? ACBC makes it easy. ACBC has the resources, the expertise and the experience And it all adds up to making banking easy tor you On a complete range of banking services Both domestic and international' You'll find our people easy to talk to You'll like the simple direct
      105 words
    • Advertisement
      Page 1 Advertisements Column 3
      162 1 NOW Cool hvalthy pollution > te driving is POSSIBLE COOL/MASTER pureace CAP AIR CONDTTIONER A«< PU«FCR CHUNG SHAN MOTORS 5-11 GOLDHILL PLAZA Tel *****2 240 LAVENDER STREET Te) *****80 :&.]^<-^~~^'+!~\&:`|.?_(]]`],[* Why the Excelsior? That's your business eu is s^xcelsior 'tr: s r* The reason might be our 1,003 first class
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  • Article
    WHY RUSSIA IS IN THE RED
    663 2 AN ESTIMATED US$4B billion In Soviet and Eastern European debts to the West has become a cause of real concern In Washington and Brussels, the capital of the Common Market and the North Atlantic Treaty Organisation (Nato). In fact, no one knows for certain
    663 words
  • REVIEWS
    • Article, Illustration
      An embarrassing bargain for Britain over sale of Mentmore treasures
      1017 2  -  By ANTHONY THORNCROFT ONE OF Britain's most popular tourist attractions is stately homes. Unlike the French chateaux, which generally stand empty of their treasures, the great British mansions remain intact. containing all the family possessions bought, inherited, or stolen over
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    • Article
      A disappointment for jazz fans
      426 2  -  By ILSA SHARP HARD-CORE jazz buffs were disappointed with the unexpectedly lightweight offering from American progressive jazz guitarist Barney Kessel last Tuesday night, courtesy of the United States Information Service at the DBS Auditorium A couple of logistic and technical problems further compounded the feeling
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    • Article
      Lock icon Opera — and the judge with an eye for beauty
      628 2 Opera and the judge with an eye for beauty t MUSIC I By CKT THIS column is not yet that long in the tooth for me to be a-wonderlng if all the classical music beginners who read it have, to a man. sunk in Its bubbly wake. But. then, we
      By CKT  -  628 words
    • Article, Illustration
      Lock icon All sorts of irony in this book's title
      840 3  -  BOOKS By TOM BUCKLEY NYT Long Live The King. A biography of Clark Gable. By Lvn Tornabene. 396 pages. G. P. Putnams Sons. U5510.95. ALL SORTS of ironies are implicit in the title of this work. Gable was the reigning male star
      NYT  -  840 words
    • Article
      Lock icon 'Usable Marxism' rushes in where Engels feared..-.
      530 3  -  By ANTONY FLEW FT The Twilight of Capitalism by Michael Harrington. Macmillan. £8.95, 446 pages MICHAEL HARRINGTON is an American who is currently National Chairman of the Democratic Socialist Organising Committee successor to the old Socialist Party of Eugene Debs and Norman Thomas.
      FT  -  530 words
    • Article
      Lock icon Specialists for tax fiddling
      476 3  -  By MICHAEL LAFFERTY FT European Financial Reporting: Italy by M.I. Stillwell. The Institute of Chartered Accountants in England and Wales. Price £6.00 THERE IS a fairly widespread belief that accounting practices and tax evasion go hand In hand. And of no country is this more popularly
      FT  -  476 words
    • Article, Illustration
      One woman's week
      2497 3  -  Br NALLA TAN Dr. Nalla Tan is an associate professor of the University of Singapore's Department of Social Medicine and Public Health. MONDAY: Chinese New Year has come and gone, without a shout or a bang, almost without a ripple. It has been like this for some
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    • Article, Illustration
      Lock icon Nureyev— the genius and the legend
      1177 4  -  By CLIVE BARNES NYT IT IS QUITE simple to be a genius. You Just have to be born with genius, be careful and get lucky. But to be a genius who Is also a legend Is something quite different. A genius can exist In
      NYT  -  1,177 words
    • Article
      Blend that shows ballet's energetic best
      356 4 THE Jeune Cote D'Azur Ballet Company from France will fly in for two performances at the National Theatre on March 25 and 26 at 8.30 p.m. Thirteen ballerinas led by Petrus Boosman, the lead soloist, will present two different programmes of classical and lighter
      356 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      156 2 i^m :V. •v* v mmmMsmm mm >> s f-» ;y- >" HWinM|H|i mhpß^v-n*:* -Sf'' v Now at Shenton Way The Only Japanese Trust Bank Office in Singapore. Chief Representative: Saburo itoh. We are Japan's oldest trust bank and command a key position in the Mitsui Group. Our services are worldwide
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      328 2 I THE WEATHER n WEATHER report for 24 hours prior to 7.30 p.m. on March 20 at Singapore airport. Maximum Temperature 33.0° C Associated Humidity 52 Minimum Temperature 23.0° C Associated Humidity 97 Hours of Sunshine 10.45 Rainfall in Millimetres nil Total Rainfall for the Month 12.2 Total Rainy Days
      328 words
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      204 3 ■P ■I I m a». t»'ll—.l. i' MMmmm Caisson Piling is capable of sinking foundations to a depth of 28 metres with minimal disturbance to the neighbours. The foundations of the new Telecoms Central Telephone Exchange in Hill Street posed a problem. Due to the sensitive telephone switching equipment contained
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  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      314 4 illl mi yL]IF UNITED CHASE MERCHANT BANKERS LIMITED MANAGER Corporate Finance Applicants should be experienced professionals with Accountancy qualifications, MBA or its equivalent. The position requires an outstanding candidate with: A background in local markets (particularly Singapore/Malaysia) Previous experience in management Technical qualifications in the following areas: Underwriting Share Issues
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  • Page 4 Miscellaneous
    • Miscellaneous
      Page 4 Miscellaneous Column 1
      619 4 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Ready to drop? (4) 4 It Is also eaten with cake (6) 8 An engagement for Shep's Banjo Boys? (3) 10 The operatic bit (4) 13 Battle colours? (3-5) 14 Replays arranged in the kitchen garden (7) 15 Honour, employ and bewilder (6) 17
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  • OVERSEAS
    • Article
      Lock icon Mexico has more oil than meets the eye
      569 5 NYT MEXICO CITY, Sun. Mexico's state oil monopoly, Pemex, said over the weekend that the country's total oil reserves greatly exceed a recent unofficial estimate of 60 million barrels. It added that proven reserves stand at 11.1 billion barrels. During ceremonies marking
      NYT  -  569 words
    • Article
      Lock icon Alliance isn't so sure of defeating Chirac
      528 5 NYT PARIS, Sun. The French Socialist Party indicates that It expects to Increase its gains in the provinces In the second round of nationwide municipal elections today. However, It seems much less confident that the leftist alliance will defeat former Premier Jacques Chirac
      NYT  -  528 words
    • Article
      Lock icon Castro surprises Zambians
      335 5 UPI LUSAKA. Sun. Cuban Premier Fidel Castro Is to make an unexpected visit to Zambia tomorrow, just a few days before Soviet President Nikolai Podgorny stops here on the second leg of his African tour, diplomatic sources said over the weekend. They said Dr. Castro would meet
      UPI  -  335 words
    • Article
      Lock icon Adequate funds for buffer stocks needed
      197 5 Reuter PORTSMOUTH. Sun. British deputy Foreign Minister Frank Judd, speaking about the International Conference in Geneva on commodities, said over the weekend there should be adequate financing for buffer stocks. He said an agreement to produce stable prices for commodities was eminently desirable. But
      Reuter  -  197 words
    • Article
      Lock icon Yen bond: Manila has to wait
      117 5 Reuter TOKYO. Sun. An immediate float of a PhilipDine Government ven bond In Japan will be difficult, Mr. Masao Fujloka, director-general of International Finance Bureau of the Finance Ministry, told visiting Filipino Secretary of Finance Cesar E.A. Virata. Finance Ministry sources said Mr. Fujloka
      Reuter  -  117 words
    • Article
      Lock icon Dinar issue
      58 5 Reuter MANILA. Thurs The Philippine Government's five million Kuwaiti Dinar bond issue will be for six years with a nine per cent coupon. Finance SecretaryCesar Virata said He told newsmen the agreement for the loan will be signed in London on April 4. and the bond will be
      Reuter  -  58 words
    • Article, Illustration
      Lock icon No Labour panic as the hour of truth nears
      913 5  -  By R.W. APPLE NYT LONDON: Ominous signs for the Labour Government multiplied over the weekend as Prime Minister James Callaghan and his Cabinet searched for a formula that would enable them to win next Wednesday's vote of confidence and thus hold
      NYT  -  913 words
  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Gillette expects additional taxes
      131 5 Reuter NEW YORK. Sun. Gillette said it expects the Internal Revenue Service to propose additional taxes for the years 1970 and 1971. In its annual report, the company said it expects "the contested portion of the proposed additional taxes, which relates primarily to the allocation of
      Reuter  -  131 words
    • Article
      Ault lifts earnings
      131 5 LONDON Sun. profit soared by £1 million to a record CM) million for printing materials and rollers manufacturers Ault and Wlborg Group In 1976. In the second half, profit, up £585.000 at 1998.000. exceeded the previous full year's total. Sales for the 12 months expanded £3.42 million
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    • Article
      De la Rue stake
      83 5 LONDON. Sun. De la Rue finance director Frederic King told Reuter the company has no intention in selling its Formica subsidiaries. De la Rue shares rose 24p to 360p on the London Stock Exchange on rumours It is to sell its 60 per cent stake in
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    • Article
      HSH
      40 5 HONGKONG. Sun. Hongkong and Shanghai Hotels has reported consolidated net profit of KH529.02 million ($24.91 million) for 1976 It has raised the total dividend to 42 cents from 37 cents, with a final payout of 30 cents (26 cents).
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    • Article
      Lock icon Sharp turnround at Leyland
      483 5 Reuter LONDON. Sun. With its commercial vehicle division providing the impetus. British Leyland has achieved a pre-tax profit of 1117.7 million for the 15 months ended Dec 31. 1976. This compared with a loss of l'3B. 1 million in the 12 months ended Sept 30. 1975.
      Reuter  -  483 words
    • Article
      CEM turns profitable
      217 5 PARIS. Sun. A combination of an improved economic climate and Internal productivity gains enable the Important French electrical Compagnie Electro-Mechanlque (CEM) to turn a 1975 net loss of nearly Frs. 31 million Into net earnings of Frs. 12.5 million In 1976 on the basis of an operating
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    • Article
      Bell
      44 5 NEW YORK. Sun. Southern Bell Telephone/ Telegraph has reported net profit of US$336 1 million for 1976, up from $277.1 million in the previous year. Revenue rose to $2.63 billion from $2.31 billion. The company is a subsidiary of American Telephone and Telegraph
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    • Article
      Sterling and competition puts Esso into loss
      361 5 LONDON. Sun Esso Petroleum. UK petrol market leader and a major Investor in the North Sea. Incurred a net loss of t'l3 million on a £1.5 billion turnover last year. The company, part of the Exxon oil group, blamed the fall in the
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    • Article
      Creditanstalt hits peak
      467 5 VIENNA. Sun Creditanstalt Bankverem Austria's number one bank, reports record breaking growth of 25 per cent in its consolidated balance sheet to Sch.lo7 billion and an unchanged 10 per cent dividend on capital increased from Sch. 1.2 billion to Sch. 1.8 billion. Announcing this at a Press
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    • Article
      Lock icon Hitachi sees depressed profit
      148 5 Reuter TOKYO. Sun. Hitachi expects net profit for the second half on the year ending March 31 will decline slightly from the 15.24 billion yen in the first half, but will be well above the 11 23 billion yen in the same period year ago Sales
      Reuter  -  148 words
    • Article
      Lock icon Gollin creditors accept scheme
      115 5 Reuter SYDNEY. Sun. Creditors of failed Australian international trading group. Gollin Holdings, and its unit. Gollin. voted at a meeting here to accept a scheme of arranjgement proposed by provisional liquidators. As previously reported, the scheme put forward by provisional liquidators. Gavin Hosking and Peter Harvey
      Reuter  -  115 words
    • Article
      Lock icon PCM wins contract
      98 5 UPI SYDNEY. Sun. An Australian electronics company has been awarded a contract valued at about A 5517.750 for the supply of radio communications equipment to the Department of Posts and Telegraphs in Papua New Guinea A spokesman for the company. PCM Electronics, said yesterday the equipment is
      UPI  -  98 words
    • Article
      Bancom
      51 5 MANILA. Sun. Bancom Developmenl said It is expanding its operations in West Asia with new ventures. Starting this year in Jordan. Egypt and Dubai the ventures will be implemented through American Express Middle East Development (Amedco). with Bancon initially providing consultancy services to Amedco for the operations, a spokesman
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    • Article
      Lock icon Pirelli
      28 5 Reuter MILAN. Sun Pirelli said is is going to proceed with a five-for-eight rights issue at par value of 1.000 lire from March 21 to April 22..
      Reuter  -  28 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      19 5 •Mi 1 THE LEADING MENSWEAR TAILORS STORE OUTFITTERS •HIGH ST CENTRE* OCEAN BUILDING •SUPREME HOUSE GOODWOOD, HILTON,RAFFLES HOTELS*COLD STORAGE
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1184 7 NEW YORK Stock prices closed lower In moderately active trading on Friday Some of the weakness apparently resulted from end-of-quarter portfolio adjustments by Institutional Investors. analysts said A factor that apparently did not cause the market to decline a as a US Government report or a one per
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    • Article
      Zurich
      294 7 ZURICH: The Market ended the week narrowly mixed with a firmer bias, on Friday, with some speculative buying In selected industrials, dealers said Fischer Bearer, Holzstoff Merkur, Nestle Bearer and Alusuisse closed markedly higher. Chemicals, were little changed. Brown Boveri and Sulzer closed barely steady and in slightly-Irregular flnanclals,
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    • Article
      Amsterdam
      306 7 AMSTERDAM Shares firmed In general with Hoogovens a marked gainer In Dutch Internationals. Major banks, KLM and Bijenkorf led gains In the rest of the market Deli led losses In spite of Its slightly higher dividend, while HBG, which announced substantially higher profit and dividend plus a free bonus,
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    • Article
      Paris
      389 7 PARIS: The market was lower on balance on Friday ahead of the second round of the municipal elections and following the H rise in call money to 9 ***** per cent dealers said Chemicals were the only sector to firm, led by Lefebvre rising four per cent Foods, engineerings.
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    • Article
      Frankfurt
      280 7 FRANKFURT: Most leading shares gained at least one mark on renewed buying from domestic and foreign Investors on Friday, dealers said. Major chemicals, engineerings. stores, steels, autos and banks all rose. But Siemens, trading ex-dtvldend, fell three marks. Public authority bond Issues gained up to 0.25 marks In quiet
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    • Article
      Brussels
      198 7 BRUSSELS: Shares closed mostly lower In more lively trading on Friday although price movements were mainly small. Bourse sources said the reported fighting In Zaire had a psychological impact and depressed shares which used to have strong interests in the former Belgian colony Electrobel and Clabecq rose but Aaturienne,
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    • Article
      Toronto
      355 7 TORONTO: Rising prices among the second tier stocks pushed the Toronto market marginally higher by the close of moderate trading on Friday Advances led declines 228 to 164. Teck A gained at and Teck B 30 US cents at after the firm reported It sold Its 26 per cent
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    • Article
      Jo'burg
      336 7 JOHANNESBURG: Gold shares traded basically steady at higher levels on Friday, in line with the higher London morning fixing, but with a shortage of stock at these levels, dealers said. Financial minings shadowed producers with smaller rises. Anglos advanced three cents to 415. Coppers were unchanged where traded, while
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    • Article
      CHICAGO BOARD OPTIONS
      1482 7 On March 18 CHICAGO Board Options Exchange volume was 76,22b contracts on Friday, down from 88,022 on Thursday. OPTION APL JLY OCT STOCK Alcoa 50 UNTRD 9 1/2 10 58 1/4 Alcoa 60 3/4 2 3/8 3 5/8 58 1/4 Am Tel SO UNTRD NOL NOL 62
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      Milan
      170 7 MILAN: The market closed lower in fairly active dealings after a mixed opening on Friday, dealers said. Generate lmmobiliare, sharply lower after the refusal of financial backing by the three central cooperative organisations, continued to exert a strong influence among lower leading industrials, they added. Aaic was steady and
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    • Article
      Indices
      67 7 FINANCIAL TIMES INDUSTRIALS Friday 428.5 Thursday 433.8 Week ago 415 8 DOW JONES AVERAGE INDUSTRIALS Friday 961.02 Thursday 964 84 Week ago 947.72 LONDON DOLLAR PREMIUM Friday 110 to 110* Thursday 109*. to 110* H.K. HANG SENG Friday 416.19 Thursday 4)8.3) Week ago 419 11 SYDNEY INDUSTRIALS Friday 351
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  • Article
    Lock icon NYSE loses momentum
    235 7 NYT LAST Monday the stock market succeeded In producing Its best dally gain In three months, as the Dow Jones Industrial average rose more than 104 points and simultaneously elevated the spirits of Investors last week. This strong advance was partly attributable to treasury secretary W Michael
    NYT  -  235 words
  • Article
    Lock icon NASD approves option trading
    181 7 Reuter WASHINGTON, Sun. The National Association of Securities Dealers said its board has given final approval for the start of its options programme this summer. The 11 underlying stocks for the NASD options market will be: American Express, Anheuser-Busch Inc. Combined Insurance Co of America. Connecticut
    Reuter  -  181 words
  • Article
    Lock icon Note exchange begins
    250 7 Reuter NEW YORK. Sun. The Municipal Assistance Corp said it plans to begin a US$25O million exchange offer next Friday to holders of $983 million of New York City moratorium notes. The offering will comprise 15-year, 9 3 per cent second resolution bonds. The second resolution bonds
    Reuter  -  250 words
  • Article
    Lock icon UK announces tap stock
    268 7 Reuter LONDON. Sun. The Bank of England announced a new Government tap stock, 1800 million exchequer 12 U per cent 1992 at 196 per cent. The bank also announced the new bond will be taxable to non-UK-residents and this will be a feature of Government bonds
    Reuter  -  268 words
  • Article
    Discount lowered
    67 7 TOKYO. Sun The Japanese Finance Ministry said the discount on issue of 60-day Government securities is lowered to 5.5 per cent from 5 625 per cent with immediate effect, following last week's 0.5 per cent cut in bank rate to six per cent from 6.5 per cent As
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      358 7 "if 1 »aLd Wm mj ■j'j i Sv 4 ML Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the j* pasar malam! Because Penguin books are rather special. They are mind-stimulating, deeply researched, f. wj entertaining in
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      211 8 LONDON, Sun. Terminal rubber moved up in late trading on Friday, on weekend short-covering to close about steady at or Just below the highs of the day, and 0.50 pence per kilo down from Thursday night (near Apl at 53.50 pence bid) to 0.45 pence higher. Clfs finished
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    • Article
      Straits tin
      204 8 THE Straits tin price in Penang on Saturday was down $20.00 to $1,600.00 on an official offering down 14 tonnes to 200 tonnes. In LONDON on Friday tin on the day declined by about i"142 for Cash and 1'147 for Three Months In both contracts. The market was
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    • Article
      Produce prices
      267 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICI'L YESTERDAY. Coconut Oil Bulk $115 sellers, old drum $120 sellers, new drum $125 sellers Copra Mixed (loose) UK/Cont $72 buyers Pepper Muntok ASTA white f ob 100% NLW $405 sellers Sarawak white f ob 96% NLW $385 sellers, Sarawak
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    • Article
      Palm oil
      123 8 THE following Palm Oil prices were quoted In London on Friday. The prices are rif Rotterdam and are quoted In US dollar per ton unless otherwise stated Friday Prev. Malaysia 5% ffa bulk May Sumatra 5% Mch Apl May June July Aug 625 sir unch 630 pd 630
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    • Article
      Lock icon Gold
      419 8 Source: Swiss Bank Corp, Zurich IN the Singapore gold market on Saturday, the kllobar was thinly traded In the range of 5511,980 to 5512,000. The loco London gold was stagnant at U*****.30/ 150.70 Source: Singmas The Singapore Chinese Gold and Silver Merchants Association quoted the retail price of 22K
      Source: Swiss Bank Corp, Zurich  -  419 words
    • Article
      Copper
      228 8 LONDON, Sun. Copper wire bars on Friday showed gains of mostly £4.50 per tonne. The market made further headway on fresh buying and chart support prompted by the news of Asarco's two cent per lb increase to 73 cents although this move had been partly discounted, some traders said.
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    • Article
      Zinc
      50 8 LONDON, Sun. Zinc declined by £8.50 for Cash and £10.25 for Three Months on Friday. Small scale hedge-selling pared early gains following the downturn in tin and lead with Three Months trading from £439 In the Ring to £435 on the Kerb. Sales of 2050 tonnes were mainly carries.
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    • Article
      Lead
      61 8 LONDON, Sun. Lead lost £6.75 for Cash and £3.50 for Three Months on Friday. Renewed long liquidation emerged and Three Months slipped back from £435 at the start of the Ring down to £431 on the Kerb before final business at £432. At the same time the contango widened
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    • Article
      Silver
      196 8 LONDON. Sun. Silver was 0.6 pence up to 0.8 pence down on Friday. Values edged lower in sympathy with the general trend In base metals with scattered liquidation taking Three Months down to 293.0 pence in the Ring. Bear covering on the Kerb, however, steadied the Eositlon to 294.4
      196 words
    • Article
      Sugar
      132 8 LONDON, Sun. Futures moved higher during afternoon dealings on Friday on light trade buying and short-covering in a rather thin market to close £1.20 to £2.20 up. Sales were 1541 lots. Prices held steady during quiet morning dealings to finish £0.70 to £1.25 per tonne higher. Sales totalled 599
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    • Article
      Soybean
      109 8 CHICAGO. Sun. Soybean futures closed on Friday with a mixed price pattern. Old crop months finished 5 1/4 to 3 1/4 cents a bushel higher. September was up 11 1/2 cents but other new crop positions were off 9 3/4 to seven cents. Speculative buying and a lack of
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    • Article
      Wheat
      108 8 CHICAGO. Sun Wheat futures closed 1/4 to 3/4 cent a bushel higher after trading In less than a twocent range In thin dealings on Friday. Lack of activity In cash markets and moisture In wheat-growing areas contributed to early market softness but later firmness in nearby soybean futures and
      108 words
    • Article
      Rice
      199 8 BANGKOK. Sun. Quiet conditions prevailed In the rice market during the week with no business concluded either on government or commercial basis, trade sources said. They said exporters were reluctant to make offers as they had heavy commitments during the last few weeks. The Director General of the Foreign
      199 words
    • Article
      Most commodities register gains
      1399 8 IN terms of price appreciations. last week's performance In the Singapore produce market must rank among the most bullish In many years. And to top It all, the gains were registered In most commodities. For the stockllsts In Singapore, It must certainly go on record as
      1,399 words
    • Article
      Coffee
      176 8 LONDON. Sun. Robusta futures closed irregular on Friday but with gains of between t'4o to £132 per tonne compared with Thursday night's close. Volume was 10.405 lots but of this total approximately 6,000 lots were self-trades. 68 call options were also traded Dealers attributed the irregular close to technical
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      189 8 THE US unit opened fractionally lower last week at the 2.4605 15 level in the Singapore forex market in reaction to sharp rise in Feb wholesale prices and an unexpected fall in money supply. It was traded higher following news that US industrial production rose an unexpected one per
      189 words
    • Article
      Asian $ rates
      274 8 Asian rates THE US dollar rates remained virtually unchanged throughout last week. The day to day funds was traded around 4*« and the threes and sixes remained at and 5Vi middle. Money supply figures: Ml up 1.500 M M 2 up 2.700 M NYK business loans up 188 M ASIAN
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    • Article
      Discount market
      277 8 ALTHOUGH the $40 million Bearer Bond Issue caused some degree of tightness In the first two days of last week, the money market was generally quite liquid. Discount Houses managed to square their books throughout the week and on some days experienced small surpluses which were taken In
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    • Article
      Minimum lending rates (in %)
      58 8 Minimum lending rates (in ACBC 6>-, Algemene Bank 6* Bangkok Bank 7 Bank of America 6*. Bank of China 7 Bank of Tokyo Bank Negara Indonesia 7 First Chicago 6*% Citibank HSBC 7 Indosuez 6*» Malayan Banking 6*« Mitsui Bank OCBC 6S OUB 6*> Chartered Bank 6*'. Chase Manhattan 6*.
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    • Article
      London
      136 8 LONDON. Sun. Sterling steadied around $1.7170 towards the close of trading on Friday, 20 basis points down on the day. dealers said. A call by the opposition Conservative Party for a vote next Wednesday of no confidence in the British Government brought the pound down to $1.7155 bid at
      136 words
    • Article
      Lock icon Zurich
      414 8 Source: Swiss Bank Corp. Zurich ZURICH, Sun. Despite some quite encouraging economic news (US Industrial production rose by 1% in February, and housing started by 29% in February), the dollar lost some ground last week. A sharp rise of consumer prices was anticipated. Sterling's gains were mainly due to
      Source: Swiss Bank Corp. Zurich  -  414 words
    • Article
      Euro $ rates
      134 8 Euro rates LONDON, Sun. Eurodollar deposits closed on Friday little changed from openings after a quiet session. dealers said. Short-covering In weekend saw this rate revert to Its opening level after a loss of around In comfortable conditions In morning trading Other day to day rates held steady In routelne
      134 words
    • Article
      Lock icon Money market
      53 8 Source: Astley Pearce OVERNIGHT rate steadied at 3% level for the greater part of last week The one, two and three months rates eased slightly to close at 3 15/16 13/16. 4 1/16 3 15/16, 4 1/8 4 respectively. Most of the activities were seen In the one
      Source: Astley & Pearce  -  53 words
    • Article
      New York
      176 8 NEW YORK. Sun The dollar closed on Friday slightly weaker than Thursday night after the sharpest rise in US consumer prices for 2'/» years was reported for February, dealers sals Sterling closed weaker at $1.7175/80 from $1.7188/93 overnight although above lows touched on news the British opposition Conservative
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    • Article
      Frankfurt
      35 8 FRANKFURT exchanges closing quotes on March 18 US 2.3890/3900 Can 2.2690/2700 UK 4.098/103 Neth 95 70/75 Swltz 93.75/81 Italy 2.695/700 France 47.92/98 Japan 0.85 i 0/25 Belg com 6.512/518 Belg fin 6.50/51 Norw 45.47/51
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    • Article
      Short term money
      44 8 FOR the week ended Friday March 19, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND: 1% to 3 per cent. GENERAL FUNDS: IV, to 4 per cent. Movements of funds totalled $373 million.
      44 words
    • Article
      UK Treasury bills
      94 8 LONDON, Sun. Three months UK Treasury bills are trading heavily at 9 9/16 7/16 per cent, with large amounts changing hands at 9'/, per cent, a level that would Indicate a one point drop In minimum lending rate to 10 per cent under the normal market formula,
      94 words
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      143 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times I BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei. Sarawak. Sabah Australasia/Pacific (excluding
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  • Article, Illustration
    Lock icon FOOTBALL: All quiet on the UEFA front when facts on corruption are clear
    2273 9  -  BRIAN QLANVILLE presents new evidence In an unresolved scandal BRIAN GLANVILLE The Sunday Times LONDON, Sun. The executive committee of UEFA, the body which rules European football, met here a fortnight ago two years almost to the
    The Sunday Times  -  2,273 words
  • Article, Illustration
    Rolex Masters: Victory charge by Chung Fa
    734 9 SIXTY-SIX-year old Justlc Choor Singh returned a nett score three below his age to win the Sentosa Golf Club "B" division monthly medal at Sentosa on Saturday. Justice Choor Singh said: "It was my first win at Sentosa and certainly one of my
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  • Article
    Lock icon Liverpool closer to treble ...
    675 9 Liverpool closer to treble AP LONDON. Sun. Colin Waldron, a soccer player on loan to Sunderland, scored a vital goal yesterday for a 1-0 upset against a sad and disorganised Ipswich Town. It was the second defeat for Ipswich In four days and seriously dented their hopes of winning the
    AP  -  675 words
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      Page 9 Advertisements Column 1
      223 9 Ride in Style with the best in saddlery accessories a is V > k f i i»ma 6 V CHRISTY BEAUFORT CAPS WHIPS CALDENE JODPHURS BREECHES BARNSBY, ELDONIAN, SOUTH AMERICAN AUSTRALIAN SADDLES HARNESS HAWKINS ENGLISH LEATHER BOOTS ROMIKA RUBBER BOOTS, SADDLES ACCESSORIES FROM SYD HILL OF AUSTRALIA RADIOL HORSECARE PRODUCTS
      223 words
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  • Article
    Lock icon Army tanks are out in troubled Karachi
    452 10 UPI ISLAMABAD, Sun. Army tanks rumbled through the main industrial area of west Karachi where a curfew was Imposed yesterday In the wake of the worst violence in Pakistan's history, following alleged poll rigging in the national elections. In the last two days
    UPI  -  452 words
  • Article
    Hotels join in the drive to save energy
    276 10 MAJOR hotels in Singapore have adopted various measures to conserve energy and cut down on wastage as a result of the recent hike in crude oil prices. According to the latest issue of Singapore Travel News, official publication of the Singapore Tourist
    276 words
  • Article
    Lock icon Japanese urea deal with Peking
    111 10 AP TOKYO. Sun. Japanese 2 chemical fertiliser producers nave agreed to provide China with 200,000 ton- j nes of urea for delivery in the April-June period, the j new spaper Asahi reported. It said the agreement followed negotiations in Pek- J ing. Asahi said the
    AP  -  111 words
  • Article
    Lock icon Russians back Jakarta's island concept
    209 10 Reuter JAKARTA, Sun. The Soviet Union has shown a deep understanding of Indonesia's claim of sovereignty of all the seas linking the thousands of islands that form the Indonesian republic, a Foreign Office spokesman said today. The understanding was reached between Russian officials and Indonesian
    Reuter  -  209 words
  • Article
    Lock icon Palestine groups close ranks for M-E role
    235 10 Reuter CAIRO. Sun. Moderate and hardline Palestinians appeared to have reconciled many of their differences today and agreed on a formula that would allow them to take part in Middle East settlement talks, Palestinian sources reported. The sources in the Palestine National Council
    Reuter  -  235 words
  • Article
    Lock icon Hope for future ties with Red Indochina
    513 10 WOODCOCK MISSION E.NDS WITH... Reuter VIENTIANE, Sun. United States presidential envoy Leonard Woodcock today wound up a five-day mission to Vietnam and Laos with a guarded expression of hope for future relations. Mr. Woodcock Is the leader of a five-man presidential mission sent
    Reuter  -  513 words
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    Lock icon Park: We've got to defend ourselves
    444 10 NYT SEOUL, Sun. President Park Chung-hee has urged South Koreans to give up their traditional notion of relying on American troops for their country's security. He declared that South Koreans must now have a greater self-confidence in their national defence capability. Speaking to a
    NYT  -  444 words
  • Article
    Lock icon Asean hopes talks will realise positive results
    305 10 AP KUALA LUMPUR, Sun. The secretary-general of the Malaysian Asean National Secretariat, said today he is optimistic that the Japan-ese-Asean talks in Jakarta on Wednesday will lead to concrete results. Enclk All Abdullah told reporters before he left for the talks In Jakarta
    AP  -  305 words
  • Article
    Lock icon May polls in south Vietnam
    109 10 Reuter HONGKONG. Sun. Elections will be held in the southern part of unified Vietnam next May to choose administrative units at various levels. The Vietnam News Agency reported today. All the provinces in south Vietnam were urgently preparing for the election of the people's councils
    Reuter  -  109 words
  • Article
    Good deal for hydro workers
    221 10 IPOH, Sun. The Perak River Hydro Employees Union has successfully concluded a new three-year agreement with the management with regard to wages, salaries and conditions of service. The agreement, backdated to May 1976, was signed here yesterday between representatives of the management and the union
    221 words
  • Article
    Help the aged by working with the govt: Othman
    215 10 SOCIAL affairs minister, Encik Othman Wok, yesterday appealed to voluntary organisations to co-operate with the Government in aiding the aged. Speaking at the 42nd district conference of the Rotary Movement, he told Rotarians that "old people require more than Just a
    215 words
  • Article
    Lock icon Advancing troops find unused camp
    149 10 Reuter PADANG BESAR. Sun. Malaysian paramilitary police advancing with Thai forces in joint operations against communist guerillas in southern Thailand have found an unused communist camp, a military commander said here today. The Malaysian field commander of the joint operations, Brigadier-General Yusof Din. told reporters
    Reuter  -  149 words
  • Article
    Lock icon MORE SALVOES AIMED AT SOUTH AFRICA IN U.N.
    626 10 Reuter UNITED NATIONS, Sun. South Africa, long a target of UN resolutions, will come under attack again tomorrow when the Security Council opens a debate on its apartheid policy. Many diplomats believe that the debate, expected to last for the rest of
    Reuter  -  626 words
  • Article
    Lock icon FUKUDA GOVT HITS A LOW
    90 10 Reuter TOKYO, Sun. The three-month-old Cabinet of Prime Minister Takeo Fukuda has received support of only 27.3 per cent of the voting public, tbe lowest popularity rating for any Cabinet shortly after inauguration, according to a newspaper survey released today. The poll was conducted by
    Reuter  -  90 words
  • Article
    Lock icon 'Marcos visit will be fruitful'
    224 10 Reuter MANILA. Sun. A leading Philippine newspaper columnist said today something concrete would result from the state visit to Japan next month of President Marcos. Mr. Teodoro Valencia made the statement In his mass circulation Philippines Dally Express column. In which he said the invitation
    Reuter  -  224 words
  • Article
    DAILY AIRCRAFT MOVEMENTS
    560 10 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG JAL JL712 1000 HLP SIA SQ211 1010 HLP GIA GA980 1030 HLP CPA CX710 0915 HLP THAI TG423 1035 BKK GIA GA908 1100 MES PAL PR501 1115 MNL SAS SK097 1140 CPH/DEL/BKK KLM KL811 1145 AMS/ABD/
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      98 words
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      Page 10 Advertisements Column 2
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