The Business Times, 7 April 1977

Microfilm: NL9063
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAy, APRIL 7, 1977 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Rising yen erodes profit
      65 1 Reuter TOKYO, Wed. Officials of the Economic Planning Agency today said 38 per cent of Japanese companies believe their exports have lost profitability because of the rise in the value of the yen. A survey by the agency showed another 29 per cent fear they will
      Reuter  -  65 words
    • Article
      Lock icon Manila deficit falls
      44 1 Reuter MANILA. Wed. The Philippines' trade deficit fell to US$l.O6 billion (552.6 billion) last year from $1.16 billion in 1975, the Central Bank said. Its annual report said exports totalled $2.57 billion ($2.29 billion) and Imports $3.63 billion ($3.46 billion). Reuter
      Reuter  -  44 words
    • Article
      Lock icon Strauss in Tokyo
      40 1 Reuter TOKYO, Wed. The United States President's special representative for trade negotiations, Mr Robert Strauss, flew In today for talks with Japanese officials on the proposed restraints on sales of Japanese colour television sets to the US.
      Reuter  -  40 words
    • Article
      $6mil fire damage
      26 1 FIRES at Singapore Petroleum Company's refinery last year cost the company $6 million In damage and nearly four months suspension of production activities.
      26 words
    • Article
      KL drought worsens
      64 1 KUALA LUMPUR, Wed. The drought situation in most parts of West Malaysia has worsened and in at least three states, there is the possibility of further crop failures. The water level In the reservoirs, in Perak, Kedah and Perils is low. In other affected states Penang, Selangor,
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    • Article
      Lock icon Gromyko for India
      58 1 UPI NEW DELHI, Wed. Soviet Foreign Minister Andrei Gromyko will pay an official visit to India from April 25, India's Samachar news agency reported today. He will be the first foreign minister of a major world power to visit India after the national elections in which the
      UPI  -  58 words
    • Article
      Lock icon ANRPC won't wait
      42 1 Reuter JAKARTA, Wed. The executive committee of the Association of Natural Rubber Producing Countries (ANRPC) today agreed to carry out the rubber stabilisation programme without awaiting the outcome of the negotiations on other commodities being held by Unctad. Reuter.
      Reuter  -  42 words
    • Article
      Lock icon Peacock is coming
      26 1 Reuter CANBERRA, Wed. Australian Foreign Minister Andrew Peacock announced today he will visit the Philippines, Malaysia, Thailand and Singapore later this month. Reuter.
      Reuter  -  26 words
    • Article
      Lock icon Jets blast Red targets
      39 1 Reuter PADANG BESAR, Wed. Jets of the Malaysian and Thai air forces today blasted known communist targets in southern Thailand during Joint operations by troops of the two countries, Malaysian military officers here said. Reuter.
      Reuter  -  39 words
    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Wed. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 916.81, up 0.67; 20 transp 223.41, up 0.24; 15 utils 107.14, up 0.16; 65 stocks 303.49, up 0.28. UPI
      UPI  -  44 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      179 1 SHARE prices moved narrowly in light trading to a barely steady close at the Stock Exchange of Singapore yesterday. The market opened on a steady note but drifted lower thereafter on lack of trading interest. At the close, the Business Times index shed 0.54 point to 257.79
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    • Article
      In Kuala Lumpur
      122 1 Falls Most active A. Hi tarn Tin $10.10 -2.70 Inchcape 40,000 Bukit Semb. $2 06 -.12 Haw Par 31,000 Auatral Eat. S. Steamship $1.84 $2 90 -.11 -.10 Cycle Carriage Central Suears 30,000 2fl 000 Con*. Pit. N.Iron Wearne* Wilkin ton O.C.B.C. S pore Land Rahman Hyd.
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  • Article
    Lock icon Airline ready to sack 1,700
    180 1 Reuter LONDON, Wed. British Airways today prepared to dismiss the first of 4,000 ground engineers whose pay dispute has led to the cancellation of most of the airline's flights. An airline spokesman said all tomorrow's domestic and European flights from London's Heathrow Airport had been
    Reuter  -  180 words
  • Article
    Three reasons why Asean looks to EEC
    613 1  -  RAJA HINTS OF OTHER INVESTORS By TSAI TAN BRUSSELS, Wed. Mr. S. Rajaratnam, Singapore's Foreigrt Minister, said today Asean is turning to Europe for more investments for three reasons. The first is because Asean needs greater participation in more ambitious types of projects
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  • Article
    UOB chalks up record profit
    273 1 REFLECTING the better economic conditions ruling last year. United Overseas Bank yesterday reported record 1976 results for both the bank and the group. Net profit for the group as a whole showed a growth of nearly 24 per cent, advancing from $20.03 million In 1975
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  • Article
    WHAT C'WEALTH CAN DO
    61 1 THE Commonwealth Prime Ministers' Conference has a positive contribution to make in helping the hard bargaining between developed and developing nations, carried on in other international forums, come to a "decent conclusion". Crystallisation of this hope Is the main mission of Lord Thomson, personal representative of
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  • Article
    Skilled workers at low costs abound in region
    534 1  -  By TSAI TAN BRUSSELS, Wed. Asean yesterday dangled the carrot of extremely low wage costs to woo European Investors in the Asean-Eblc-EEC study group on machinery, metal and precision engineering. The Europeans were told that well-trained workers are available in Asean at
    534 words
  • Article
    One step nearer to petrochem complex
    435 1 THE long-delayed Joint Singapore Sumitomo petrochemical complex is expected to get off the ground In the latter half of the year. This followed reports that six out of the 12 member firms of the Japanese Petrochemical Industry Federation have agreed to participate in the
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  • Article
    Lock icon Job outlook dim
    197 1 Reuter GENEVA, Wed. Unemployment In Western Europe this year could be the highest since World War Two, the United Nations' Economic Commission for Europe (ECE) said In its annual survey today. The survey said Western Europe's recovery from economic recession lost its momentum In the second half
    Reuter  -  197 words
  • Article
    Slide in dollar checked as Tokyo intervenes
    342 1 THE precipitious fall of the US dollar in the previous two days came to a halt yesterday. It recovered marginally in Singapore while in other world financial markets, it opened on a quiet note. The dollar opened at 272.95 yen in Singapore before
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  • Article
    Lock icon Bid by two exchanges to merge
    253 1 Reuter HONGKONG, Wed. The committees of the Far East Exchange and the Hongkong Stock Exchange agreed that unification might be effected between the two exchanges, the Hongkong Stock Exchange said. An exchange press release said it is proposed that a new exchange be formed
    Reuter  -  253 words
  • Article
    Bridgestone to set up new plant here
    271 1 BRIDGESTONE Singapore is setting up a plant here to manufacture textile braided hoses in an attempt to diversify away from its traditional rubber tyre and tube products. According to Mr. T. Seto, managing director of Bridgestone Singapore, the plant will be located on
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  • Article
    Big sugar meeting
    35 1 GENEVA, Wed Negotiations aimed at a new international agreement to regulate world trade In sugar will Involve more than 100 countries and possibly last as long as five weeks, UN officials said
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
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  • OVERSEAS
    • Article
      Lock icon State Dept urges aid for Manila
      704 2 DESPITE HUMAN RIGHTS ISSUE AP UPI WASHINGTON, Wed. The US State Departmentyesterday urged Congress to approve U*****.5 million (*****.2 million) aid for the Philippines despite Its detention of political prisoners and reports of torture. Deputy Assistant Secretary of State Robert Oakley made the appeal
      AP; UPI  -  704 words
    • Article
      Lock icon NOD FOR BILL TO WEAKEN BOYCOTT
      147 2 Reuter WASHINGTON, Wed i The Banking Committee of the United States Senate yesterday approved a modified bill to weaken the Arab trade boycott of Israel. The draft legislation would bar American firms from knowingly taking part in any foreign boycott. It was approved after
      Reuter  -  147 words
    • Article
      Lock icon Senate panel'budgets' $275 b for defence
      420 2 AP Reuter WASHINGTON,Wed. The US Senate Budget Committee recommended yesterday a US$lll.9 billion (*****.3 billion) defence budget for 1978, the same figure proposed by the Carter Administration. The committee earlier yesterday rejected a figure of SI 12.2 billion and failed to vote on a
      AP; Reuter  -  420 words
    • Article
      Lock icon Threat by Reds to stop backing Andreotti
      165 2 AP ROME, Wed. Communist leader Enrico Berllnguer yesterday threatened to withdraw his party's crucial backing of Premier Glullo Andreottl's government unless communists are granted a direct role In working out government policy. Mr Berlinguer called for an agreement on the programme that would
      AP  -  165 words
    • Article, Illustration
      Lock icon Understanding of Arabs improved by visit
      464 2 Reuter WASHINGTON, Wed. Egyptian President Anwar Sadat files home today after establishing what seemed to be a sounder understanding of Arab views of Middle East problems. The Egyptian leader and President Carter had a lot of kind things to say about each other In
      Reuter; UPI photo  -  464 words
    • Article
      Lock icon US hits at Bonn, Tokyo for not helping out
      415 2 Reuter AP WASHINGTON. Wed. The Carter administration directed new criticism at West Germany and Japan yesterday for allegedly falling to assist other nations with financial problems. A top administration official said Germany and Japan, along with Switzerland and the Netherlands, are
      Reuter; AP  -  415 words
    • Article
      Lock icon French MP calls for NY Concorde demos
      120 2 UPI MOULINS (France), Wed. A Gaulllst member of the French National Assembly yesterday urged other deputies in Parliament to Join him in a march down New York's Fifth Avenue to protest US opposition to landing rights at Kennedy Airport for Concorde supersonic Jetliner.
      UPI  -  120 words
    • Article
      Lock icon WIDE FIELD OF CHOICE FOR DUTCH VOTERS
      1101 2 Reuter THE HAGUE: Holland's Christian Democrats have taken a gamble by toppling the five-party coalition government just two months before a general election. A revolt over land legislation by six Catholic and Protestant ministers in Premier Joop Den Uyl's government led to the
      Reuter  -  1,101 words
    • Article
      Lock icon Germany: 10 pc C-Mart budget rise maximum
      424 3 Reuter LUXEMBOURG. Wed. West Germany has served notice on its EEC partners that it will not accept any increase in the EEC budget next year beyond 10 per cent. Finance Ministry State Secretary Karl-Otto Poehl told a joint meeting of EEC foreign and
      Reuter  -  424 words
    • Article
      Lock icon UK money supply
      33 3 Reuter LONDON. Wed. Britain's money supply should remain stable on the basis of the latest British clearing bank leading figures supplied by the Banking Information Service (BIS), banking sources said.
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    • Article, Illustration
      Lock icon Venezuela chalks up a $799m budget deficit
      557 3 CARACAS, Wednesday NYT THE Venezuelan Government's latest economic statistics show that despite Its oil wealth the nation had a budget deficit of U*****.8 million (***** million) in 1976 and an overall balance-of-payments deficit of US$2B6 million (Ss6B6 million). Although the budgetary gap was
      NYT  -  557 words
    • Article, Illustration
      Lock icon Carter expresses concern over inflation threat...
      449 3 WASHINGTON. Wednesday Reuter PRESIDENT Carter and his economic advisors expressed their concern to democratic Congressional leaders over the threat of renewed inflation, but apparently ruled out wage and price controls to deal with it. This was reported by assistant Democratic leader Alan Cranston, who
      Reuter  -  449 words
    • Article
      Lock icon BANKER OPPOSES CUT IN BONN BANK RATE
      196 3 Reuter FRANKFURT, Wed. Deutsche Bank managing board joint spokesman Wilfried Guth said the Bundesbank ought not to lower the bank rate, set at 3.5 per cent since September 1975. Several leading German bankers have recently urged a cut but Mr. Guth told a
      Reuter  -  196 words
    • Article
      Lock icon Hitachi – GE venture
      67 3 Hitachi GE venture UPI TOKYO, Wed. Japan's Hitachi has agreed with America's General Electric to establish a joint venture High Voltage Breakers In Philadelphia Hitachi officials said. The officials said the new •company, capitalised on a 50-50 basis by Hitachi and GE. will aim at a stable long-range supply of
      UPI  -  67 words
    • Article
      Lock icon 'Russia violates new American fishing laws'
      393 3 AP WASHINGTON, Wed. The United States yesterday complained to the Soviet Union about Russian violations of new American fishing laws. Deputy Secretary of State. Warren Christopher, called in the Soviet Charge d'Affaires "to advise him of the great concern over the number and seriousness
      AP  -  393 words
    • Article
      Lock icon Swiss payments surplus over 8 billion francs
      345 3 Reuter ZURICH. Wed. The Swiss National Bank said it estimates Swiss current account payments were in surplus by more than eight billion francs last year after a surplus of around 6.5 billion in 1975. The bank said its annual report the increase reflects
      Reuter  -  345 words
    • Article
      Lock icon A gloomy forecast for W. Europe
      146 3 UPI GENEVA. Wed. The United Nationa Economic Commission for Europe published gloomy forecast for western Europe this year. In its annual economic survey, the commission said among other things that unemployment is likely to reach a new postwar peak while inflation rates will remain
      UPI  -  146 words
    • Article
      Lock icon A bleak report on French economy
      200 3 UPI PARIS. Wed. The Bank of France issued a bleak report yesterday on the French economy over the past year and recommended a rigorous monetary policy a close check on the money supply and the exchange rate to set things right. The document submitted
      UPI  -  200 words
    • Article
      Lock icon EEC considering insurance plan for mining in LDC's
      348 3 Reuter BRUSSELS. Wed. The European Economic Community commission may publish proposals by the end of this month Including an insurance scheme for investments by leading European mining companies in less developed countries (LDC's), informed EEC sources said. This follows a meeting here
      Reuter  -  348 words
    • Article
      Lock icon France, Belgium 'no' to sugar pact
      150 3 Reuter LUXEMBOURG, Wed. France and Belgium yesterday prevented the Common Market from adopting a clear-out position at the negotiations for a new world sugar agreement In Geneva later this month, EEC officials said. Considerable attention is focussed on the sugar negotiations. which run from
      Reuter  -  150 words
    • Article
      Lock icon NEW YORK FINALISES $9bil LOAN TALKS
      537 3 NYT NEW YORK, Wed. New York state has completed negotiations for its annual spring borrowing, US$3 6 billion (SS9 billion) this year, at an average Interest rate of 4.51 per cent, a significant improvement over last year's seven per cent. Comptroller Arthur Levitt said
      NYT  -  537 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      189 2 Have you your copy of tfie 1976/77 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INDEX CLASSIFIED TRADE OFFICIALS AND PUBLIC BODIES INFORMATION i —r T T It's the 1976/77 "Red Book" the office/library reference book covering the business scene in Singapore. It is complete. Built up
      189 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      374 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on April 6 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements
      374 words
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      83 3 Wfe're to banking what our namesake is to geography. Strength. Security. Permanence. These attributes describe our namesake. And symbolize Rainier National Bank's growing full-service international network. We're a bank with worldwide expertise. And a unique knowledge and understanding of Alaska and the entire Pacific Rim. We have offices in Seattle,
      83 words
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  • COMPANY NEWS
    • Article
      Carlsberg turns in record profit despite rising costs
      728 4 ESCALATING costs coupled with the recent hike in Malaysian excise duty forced Carlsberg Brewery (Malaysia) to raise the selling price of Its products last year. However, this was more than offset by increased demand for Its products as the company made a
      728 words
    • Article
      DIVIDENDS ANNOUNCED
      638 4 Cw«i payment Km Data Daw payable Total far thayaar Tatal far PrnioW v* LAX. ILL. Ktvaot Hui®» 'Mi M. Banking Mia. Sec RoMaaoc Prima M.B.S. Otympta Pawned UuDr if E.I BMuLiattoi koatral Ealarp. Tallin Mm» (kwIhimI Park l)«M Ail t'mniiM IliouiiihiiTli hi h« Kini»<W K.I. K>|M« IM M.
      638 words
    • COMPANY MEETINGS
    • Article
      Sharp rise in operating costs at Renong Tin
      366 4 OPERATING costs at Renong Tin, a UKIncorporated company which is disengaging Itself from active mining operations, appear to have risen sharply in the first half year ended Dec 31. 1976. For while operating Income in the form of tin ore proceeds/ tribute
      366 words
    • Article
      Copper Industries taken off KLSE list
      163 4 COPPER Industries, which was placed under receivership on Dec 17, 1975 as a result of Its financial difficulties, was removed from the official list of the Kuala Lumpur Stock Exchange yesterday. The KLSE said In a statement on Tuesday "the company has confirmed that
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    • Article
      PEOPLE IN BUSINESS
      235 4 MR. K. Boonichien, marketing manager of Interocean-EAC Agencies, will leave Singapore on April 15 to take up a new assignment at the head office of the East Asiatic Company (EAC) In Copenhagen, Denmark. Mr. Bonnlchsen, who has been attached to EAC's shipping establishments In Singapore and Malaysia
      235 words
    • Latest results
      • Article
        KEMPAS (MALAYA)
        116 4 Group pre-tax profit M 516.43 million ($14.27 million) on sales of $50.68 million ($45.20 million) for the year ended Dec 31, 1976. Tax $6.63 million ($6.09 million), extraordinary net gains $4.77 million ($229,000) leaving net attributable profit at $14.58 million kgs ($8.41 million). Oil Palm sales 93,000 long
        116 words
      • Article
        BENTA PLANTATIONS
        102 4 Pre-tax profit M 55.39 million ($5.56 million) on sales of $23.39 million ($25.29 million) for the year ended Dec 31, 1976. Tax $1.91 million ($2.29 million) and extraordinary expenses $276,000 (nil) leaving net attributable profit at $3.2 million ($3.27 million). Oil Palm sales 22,000 long tons (23,000 long
        102 words
    • Article
      CHICAGO BOARD OPTIONS
      1154 4 On April 5 TRADING In options on the Chicago Board Options Exchange on Tuesday was 93,841 contracts, up from Monday's 73,725 contracts. OPTION APL JLY OCT STOCK Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel AUR AUR AUR Avon Avon Avon Bank Am Bank Am
      1,154 words
    • Article
      Lock icon Credibility and the independent auditor
      997 4  -  By FREDERICH ANDREWS NYT ALWAYS and inevitably, the independent auditor gets off on the wrong foot concerning credibility. At first blush, the practice as old as the publlc-ac-countlng profession of having the company being audited pay the auditor's fee seems to fly In the face
      NYT  -  997 words
    • Article
      Swire Pacific gets set for further growth
      954 4 HONGKONG, Wed. The Chinese call It the "iron rice bowl" and the house magazine is certainly replete with photographs of "taipan" Mr John Bremridge handing out sliver watches to ancient employees. Swire Pacific Is the most paternalistic and the most Victorian of the
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    • Article
      Lock icon New rules on securities
      81 4 Reuter TORONTO. Wed. The Ontario Government expects to pass new legislation regulating the securities and commodities futures markets this year. Consumer and Commercial Relations Minister Mr Sydney Handleman said in the legislature. He said the legislation, which completes work started up to five years ago. provides
      Reuter  -  81 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      185 4 COLLKTINQ Oriental Antigmej by Judith Moorhouse and Dries Blitz Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average collector. This myth is perpetuated by all
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Deutsche Bank unit Eurobond
      189 5 Reuter FRANKFURT, Wed. The US$l25 million Eurobond with warrants to be floated by Deutsche Bank's Luxembourg unit Cle Flnanclere de La Deutsche Bank will carry a coupon In the range of 4'/« to five per cent, Deutsche Bank's Joint managing board spokesman Mr. Wllfrled Guth said.
      Reuter  -  189 words
    • Article
      Lock icon EDF's bid for US$400m credit
      146 5 Reuter PARIS, Wed. Electrlclte de France (EDF) Is seeking US$4OO million through an eight year standby credit on the international capital market to back further issues of commercial paper in the US, primary market sources said. Lead manager Credit Lyonnais is approaching about 30 banks
      Reuter  -  146 words
    • Briefly
      • Article
        MAC
        81 5 NEW YORK, Wed. New York Municipal Assistance Corp said it will not extend the expiration date or increase the amount of its exchange offer for New York City notes. The deadline is 3.30 pm EDT tomorrow and the offer will end then or at the close of business on
        81 words
      • Article
        UAE
        85 5 FRANKFURT. Wed. The United Arab Emirates Currency Board 100 million mark five-year Eurobond will probably carry a 6 3/4 per cent coupon when It goes into the market, primary bond market sources said. They said the issue, to be managed by Deutsche Bank, is the first by an Arab
        85 words
      • Article
        Ont. Hydro
        58 5 TORONTO. Wed. Ontario Hydro said its Eurobond had been priced at 100 1 2 with an eight per cent coupon. The original amount of US$lOO million had been raised to $125 million, a spokesman for Ontario Hydro said. Bonds are dated April 15 and are for 10 years
        58 words
      • Article
        IHI
        42 5 TOKYO. Wed. Ishlkawa-jlma-Harima Heavy Industries (IHI) said it is making US$45 million. 7.75 per cent, five-year guaranteed note issue at par in Europe. The Issue will be underwritten by a syndicate managed by First Boston (Europe) and Nomura Europe. It said.
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      • Article
        Bell Canada
        50 5 LONDON, Wed. The amount of the Bell Canada Eurobond has been Increased to US$lOO million from the original $75 million due to heavy oversubscription, Union Bank of Switzerland (Securities) said as lead manager. The Issue, due 1987, was priced at par with a 13/*I 3 per cent coupon.
        50 words
      • Article
        Renfe
        71 5 DUESSELDORF. Wed. The Spanish Rail Authority Red Naclonal de Los Ferrocarrlles Espagnoles (Renfe) will get a 100 million Eurodollar credit for seven years, a spokesman for manager Westedeutsche Landesbank Girozentrale said. Interest will be 1% per cent over London Interbank offered rates for the first five years and 1V»
        71 words
    • Article
      Lock icon Cold hits Conoco
      182 5 Reuter STAMFORD, Conn, Wed. —Continental Oil said extremely cold weather Impaired some operations early in the year but it expects a favourable operating environment for the rest of 1977. The firm said in its annual report several uncertainties could have an Important effect on results In 1977
      Reuter  -  182 words
    • Article
      Lock icon TSE
      61 5 Reuter TOKYO, Wed. The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo, Osaka and Nagoya stock exchanges at April 2 fell to 830.6 billion yen from 845.8 billion a week before. It said the outstanding balance of selling in margin trading on
      Reuter  -  61 words
    • Article
      Lock icon CGW enjoys group profit increase
      149 5 Reuter HANOVER. Wed. Continental Gumml-Werke reported that net group profit rose to eight million marks (3.5 million) on an increase of four per cent In turnover to 1.78 billion marks In 1976. The parent company recorded a rise of five per cent in turnover to
      Reuter  -  149 words
    • Article
      Lock icon Better results forecast at Goodyear Canada
      105 5 Reuter TORONTO. Wed. Goodyear Canada expects to report profitable operations at higher sales level for the first quarter of this year compared with the loss recorded In the 1976 first quarter, president Mr. J R Hicks told the annual meeting. He said the company
      Reuter  -  105 words
    • Article
      Lock icon Woodside-Burmah gas test
      110 5 Reuter MELBOURNE. Wed.— Woodside -Burmah Oil said the No. 2 production test at Its offshore North Rankin No. 5 well on the North West shelf flowed a maximum 29 million cubic feet of gas a day through a s/ a inch choke. The test, which Is still
      Reuter  -  110 words
    • Article
      Lock icon Strike at Mt. Newman lays off 1,000
      196 5 Reuter SYDNEY, Wed. Mt.Newman Mining s&ld It laid off about 1,000 men last night at the Newman iron ore mine after Australian Metal Workers Union (AMWU) members voted to go on Indefinite strike on Monday, a company spokesman told Reuter by telephone from
      Reuter  -  196 words
    • Article
      Lock icon P. Sinter new plant
      108 5 Reuter MANILA. Wed.. Philippine Sinter, a subsidiary of Kawasaki Steel, said It will inaugurate its 2.6 billion pesos sinter plant in the Southern province of Misamls Oriental next month. Company vice-president Gabriel Evangelista said the new plant was ready for commercial operation, and had received iron
      Reuter  -  108 words
    • Article
      Lock icon Agreement with Comalco
      98 5 Reuter TOKYO, Wed. Showa Denko K.K. said It and Sumitomo Aluminium reached agreement with Comalco of Australia on a "reasonable" increase In the price of Australian bauxite to be supplied to the two Japanese aluminium refineries during the first half of this year. This Is a tentative
      Reuter  -  98 words
    • Article
      Lock icon Bundesbank
      70 5 Reuter FRANKFURT, Wed. The Bundesbank said It Is lowering by a linear 0.25 per cent the discount on its offer of non-Interest bearing six to 24-month Treasury bonds to reduce yields in line with general market conditions. The bonds, which are sold to large Investors In lots of a
      Reuter  -  70 words
    • Article
      Lock icon Tensions rise at Rhode
      906 5 SWEETHEART DEAL NYT WASHINGTON. Wed. —At Quonset Point. R. 1., about 32 km south of Providence. General Dynamics and the state of Rhode Island have the kind of deal that makes other companies and manpower officials In other states drool with envy. The Federal Government, however.
      NYT  -  906 words
    • Article
      Lock icon North BH sets high hopes
      210 5 Reuter MELBOURNE, Wed. North Broken Hill Holdings (North BH) said It forecast profit for the year ending June 30 will amount to about US$l7 million, virtually doubling last year's profit of $8.8 million. In a letter to shareholders, North BH said it expected investment Income
      Reuter  -  210 words
    • Article
      Lock icon Kaiser Steel seeks NYSE listing
      152 5 Reuter OAKLAND, Wed. Kaiser Steel said It applied for listing of its common stock on the New York Stock Exchange. If the application Is approved, the stock listing would be effective April 26. Kaiser Steel said. It also said the NYSE listing would depend on
      Reuter  -  152 words
    • Article
      Lock icon UAW
      69 5 Reuter DETROIT. Wed. The United Auto Workers said union members working at three Burroughs plants ratified a new three-year agreement with the firm, ending a strike which began Feb 28. The union said the nearly 2.000 workers who struck at the plants returned to their Jobs starting with the
      Reuter  -  69 words
    • Article
      Lock icon Standard expects 10 pc growth
      118 5 Reuter LOS ANGELES, Wed. —Standard Oil of Indiana expects to continue to generate earnings at annual growth rate of 10 per cent, chairman Mr. John E Swearlngen told a meeting of financial analysis here. In 1976, the company earned $6.09 a share, up 14 per
      Reuter  -  118 words
    • Article
      Lock icon Marginal rise at Myer
      89 5 Reuter MELBOURNE. Wed. Unaudited consolidated net operating profit at Myer Emporium rose to A 526.11 million for the first halfyear ended Jan 31, 1977 from $24.24 million previously. Revenue advanced from $509.05 million to $537.22 million. However. Myer said the Increase in both sales and profit
      Reuter  -  89 words
    • Article
      Lock icon Bougainville Copper in preliminary talks
      253 5 Reuter PANGUNA, (PAPUA NEW GUINEA,) Wed Bougainville Copper'said It has held preliminary discussions with Its bankers on a possible borrowing programme for 1977. Company chairman Frank Esple told the annual meeting the high level of capital expenditure In 1977 and 1978, together with loan repayments,
      Reuter  -  253 words
    • Article
      Lock icon 'Rates may fall further'
      123 5 Reuter FRANKFURT. Wed. Firmness of the German capital market could bring a further fall In nominal Interest rates to 6Vi per cent but this Is likely to be the low point of the current cycle, Deutsche Bank Joint managing board spokesman Mr. F. Wllhelm Christians said.
      Reuter  -  123 words
    • Article
      Metzler successful
      254 5 FRANKFURT, Wed B. Metzler Seel Sohn. a leading West German private bank, again suffered no credit losses In 1976. Indeed, there have been no credit losses to report since the bank, together with Its competitors In the private sector, was obliged to publish figures six years ago. Questioned
      254 words
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      Page 5 Advertisements Column 1
      839 5 tell it like it is The Singapore story is a little difficult to-tell. Founded a mere 16 decades ago by a farsighted Englishman, this little island republic of just over 580 sq. km. has forged ahead in the last 10 years or so to become a focus of world attention.
      839 words
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  • Article
    Share Information Service
    2115 6 Gr's Gr'i Nat 1977 Last div Div y'ti P/E Val Day 4igfa Low Company Sale +or- c'w <*•••> Hick Law 9ECTION ONE INDUSTRIALS 146 136 Ac ma 138 -2 12.ON 1.1 8.6 6.9 1 138 138 133 127 Acma A 127 -1 12.ON 1.1 9.4 6.4 1
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  • Article
    Transactions in Singapore
    1199 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 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board
    1,199 words
  • Article
    In Kuala Lumpur
    1185 6 810 and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless otherwise specified. INDUSTRIALS Acma (1.398 1.458). Loytap* (0 498) (1) 0.46. «jin*am<o (I.MBi (1)
    1,185 words
  • Article
    Stock options
    131 6 C. and C. (June $1 90) (0.05B). (Sept $1.90) (0 10B). (Dec $1.90) (0.15B). D.B.S. (June $3 90) (0.108 O.IOViS). Inchcape (June $2,400 (0 118 (10) 0.11. 0.U.8. (June $3 50) (0.078 0.09 V,) (June $3.30) Pan Electric (June $2.10) 0 06'»S) (2) 0.06 (Sept $2 10) (0.08B).
    131 words
  • Article
    Unit trusts
    177 6 SINGAPORE UNIT TRl'ST INCOME BOND I'NIT i Managers' prices for Apr 7) (C urrent price*) The Commerce 1.74 184 INCOME BOND 1 04 1 10 The Saving Fund 0 89 0 94xd MARA Bl MIPI TRA FI ND S pore Prog Fund 0.78 0 83 (Managers' price* for
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  • Article
    Corporate bonds
    205 6 BONDS B O T 8 1/2% 1981 (100.000) (102' sB 103 S »S) D B S 8 1/2% 1982 (100.000) (100'«B 100 3 45) DBS Converts 6 1/2% 1991 (100,000) (97*.8 97 7 1»S) E I B 9% 1982 (100,000) < 103 SB 104 3 eS) E I
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  • Article
    Domestic govt bonds
    80 6 5 1/2% 15/4/78 (1,000.000) (101 558 101 655) 5 1/4% 15/7/78 (1.000,000) (101.508 101 60S) 7% 1/7/79 (1.000.000) (104.808 104.955) 5 1/2% 1/10/77-79 (1.000.00 C) (101 508 101 60S) 5 1/4% 15/10/79 (1,000.000) (101 188 101 28S)6 3/4% 15/6/80 (1.000,000) (103 10B) •i 3/4% 1/12/80 (1.000,000) <
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      411 6 THE GREAT BOOKS of the beautiful, durable bindings Is the fundamental Ideas of WmwM I ■hHI IIHKIBC history, psychology, W m 111 ll v WW m IMV Here in beautiful, durable bindings Is the whole record of the fundamental Ideas of mankind science, history, psychology, mathematics, theology, literature and poetry.
      411 words
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  • Article
    Prices move narrowly
    430 7 SHARE prices barely steadied in light, narrow trading at the Stock Exchange of Singapore yesterday. Although the opening market saw, buying support for some of the speculative issues, this proved to be just a flash in the pan for thereafter sellers moved in again and dominated trading.
    430 words
  • Article
    Trading turns sluggish
    435 7 TRADING turned extremely sluggish at the Kuala Lumpur Stock Exchange yesterday with prices moving narrowly to finish on a barely steady note. There was still no fresh incentive to trade and investors continued to fight shy of fresh commitments. The narrow price movements and the slow tempo
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  • Article
    Lock icon Cream puffs the Kawasaki way
    177 7 UPI TOKYO, Wed. From the Japanese, 'the folks who brought you cheap color televisions, millions of autos and a fleet of awesome super tankers, there are now cream puffs. Kawasaki heavy Industries, one of Japan's largest Industrial conglomerates, has just completed designing a factory which
    UPI  -  177 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1121 7 NEW YORK: The stock market closed mixed on Tuesday in expanded trading. The Dow Jones Industrial Index. up several points during the session, rose 0.58 point to 916.14 points following Monday's sharp decline Analysts attributed the better showing of the Index to selected buying In recently depressed Issues.
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    • Article
      Zurich
      280 7 ZURICH: The market was easier following the decline on Wall Street, dealers said on Tuesday. Banks were barely steady, while Swissair eased on profittaking after recent gains. Financials were irregular, with Oerlikon Buehrle also suffering from profittaklng Insurances were little changed Among Industrials, Merkur bearer rose by around six
      280 words
    • Article
      Tokyo
      504 7 TOKYO: Shares prices closed higher on Wednesday In reaction to the sharp fall on Tuesday, and In line with the recovery on Wall Street overnight, dealers said The Dow Jones average added 13.79 to close at 4.893.32 with volume 140 million shares. The New Index closed at 365.04, up
      504 words
    • Article
      Toronto
      306 7 TORONTO: The market closed sharply lower on Tuesday, adding to Monday's steep decline. The composite index fell 6.6 points after a 7.19 drop on Monday and losses outnumbered gains 276 to 124. Among the largest net changes Finning Tractor roseone to 15',, Chrysler to 18%. Keichhold 3/4 to 20-3/4
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    • Article
      Frankfurt
      289 7 FRANKFURT: Shares generally eased In quiet trading, market sources said on Tuesday Leading stocks lost up to one mark except banks which were will maintained. Contigummi, which announced higher 1976 net profits, dropped 0.60 marks Proflrtaklng reversed the recent bond market firmness and public Issues eased at most 0
      289 words
    • Article
      Sydney
      388 7 SYDNEY: Share prices closed mixed In dull trading, dealers said on Wednesday. The Sydney All-Ordlnarles Index dropped 0.98 point to close at 439 58 Among mines North BH, BH South, CRA, Peko-Wallsend. Audimco, Kathleen and Robe River firmed wnile Pancontinentil. Central Norseman. Woodside Burmah and Thiess lost ground BHP
      388 words
    • Article
      Jo'burg
      358 7 JOHANNESBURG: Gold shares steadied at lower levels toward the close In line with European bullion Indications while Industrials reversed recent easier trends despite the lack of Institutional buying, dealers said on Tuesday. Financial minings shadowed producers De Beers ruled unchanged at 405 after a high of 408 Coppers were
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    • Article
      Amsterdam
      289 7 AMSTERDAM: Shares eased, led lower by Hoogovens in Dutch internationals, with sentiment affected by the further decline in Wall Street, dealers said Hoogovens led Dutch internationals lower while elsewhere. the decline was led by CSM. Bols, Bijenkorf and Amfas. KLM rose against the trend. State loans firmed APR 05
      289 words
    • Article
      Manila
      177 7 MANILA: Commercial and mining averages were down though oils rose slightly In dull prehollday trading, dealers said on Wednesday. Total turnover dipped further to 2.06 million pesos compared with Tuesday's 3.79 million. Gainers were Acoje Mining, Baguio Gold, and Phil Overseas but Lepanto B, Pi cop A, Philex A
      177 words
    • Article
      Milan
      219 7 MILAN: Stocks showed widespread losses In a trading session marked by the auction of the portfolios of a broker and a commissioner declared bankrupt last week, bourse sources said on Tuesday. Shares of racetrack firm Trenno, which formed the major part of the shares at auction, dropped nearly 25
      219 words
    • Article
      Paris
      351 7 PARIS: The market closed lower in normal trading, undermined by the Wall Street decline and the v. point rise in call money to 9'i per cent dealers said on Tuesday. Electrlcals and foods led the market down. US Japanese, German and Dutch shares led foreign shares lower. Golds were
      351 words
    • Article
      Brussels
      153 7 BRUSSELS: Share prices fell In quiet trading following the lower Wall Street trend, dealers said Fn and St Roch rose but Sidro, Traction, Ebei, Electrafina, Union Miniere, Vieille Montague, Clebecq, Hainaut-Sambre, CBR and Cockerill were all lower. In foreign stocks, Germans and UK were mixed and US and French
      153 words
    • Article
      Hongkong
      477 7 HONGKONG: Share prices drifted lower on Wednesday on lack of Interest and In reaction to Monday's gains In moderate trading, dealers said. Overseas markets falltd to give any lead and other negative (actors Included the subsidence of recent short buying and some disappointment that local Interest rates were not
      477 words
    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIAL Tuesday 402.5 Monday 405.6 Week ago 420.4 DOW JONES AVERAGE INDUSTRIALS Tuesday 918.14 Monday 915.56 Week ago 932 .01 LONDON DOLLAR PREMIUM Tuesday 115% to 116% Monday N. A. H.K. HANG SENG Tuesday closed Monday 430.95 Week ago 417.71 SYDNEY INDUSTRIALS Tuesday 356.84 Monday 358.37 Week
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  • Article
    Lock icon Nippon Mining
    140 7 Reuter TOKYO, Wed. Nippon Mining said its after-tax profit for the year ended March 31 is thought to have doubled to 3.5 billion yen from 1.73 billion yen the preceding year, with sales up about 17 per cent to 590 billion (504.76 billion). It said these compare with
    Reuter  -  140 words
  • Article
    Lock icon Volvo plans to start production in Canada
    141 7 Reuter TORONTO. Wed. Sweden's Volvo group is planning to begin manufacturing some equipment in Canada, its managing director was quoted as saying on Tuesday. Managing director, Lars Christian Eriksson of Volvo BM. the firm's agricultural, forestry and construction equipment division, was quoted in
    Reuter  -  141 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      424 7 ...THE SYNTOOCON 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 Syntopicon can guide your hand to the proper volume. Your eyes are directed to
      424 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      343 8 IN the Singapore rubber market yesterday, opening quotations were marked down following easier London advices and later the market lost further ground on stale bull liquidation, dealers said. Towards the morning close, however, a mild rally developed on some shortcovering Interest which helped prices to
      343 words
    • Article
      Closing prices
      30 8 Rubber: April 6 Singapore: April 195.75 eta (down 0.75 ct.) Malaysia: May 202.00 cts (down 1.25 eta) Tin: $1,398.00 (down $12.00) Official offering: 140 tonnes (down 68 tonnes)
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    • Article
      Straits tin
      182 8 THE Straits tin price in Penang yesterday, fell $12.00 to $1,398.00 per picul on an official offering down 68 tonnes to 140 tonnes. In LONDON yesterday morning, tin finished £35 up for Cash and £30 higher for Three Months in both contracts. The market continued to be characterised
      182 words
    • Article
      Palm Oil
      611 8 THE following Palm Oil prices were quoted In London on Tuesday The prices are cif Rotterdam and are quoted In US dollar per ton unless otherwise stated T uesday Prev. Malaysia b% ffa bulk unch 635 sir Jne/Jly Sumatra 5% Mch unch 613 50pd Apl unch 647 50
      611 words
    • Article
      SSR and SMR
      118 8 April May R.A.S. (Current Mth) (Forward Mth) Buyer Seller* Buyer* Seller* (rents per k() (rents pe r kg) SSR20 (1 ton Pallet) 192 00 194 OON 193.50 195 50N SSR 50 (1-ton Pallet) i?y M 191 50N 191 00 193 00N M.K.E.L.B. May June SMR5CV (1-ton Pallet)
      118 words
    • Article
      Produce prices
      281 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICI'L VESTERDAY. Coconut Oil Bulk si 12 sellers, old drum $122 sellers, new drum 1127 sellers Copra: Mixed (loose) UK/Cont $74 buyers Pepper Muntok ASTA white fob 100"f N'LW $407 2 sellers, Sarawak white fob 96% NLW $387'. sellers. Sarawak
      281 words
    • Article
      Gold
      273 8 IN the Singapore gold market yesterday, the kl lobar was traded In the range of 5511.690 to SSI 1,760 in nervous trading. The loco London gold market opened sharply lower at U*****.30/146.80 following a selloff In the American market the night before. However, shortcovering and bargain buying ahead of
      273 words
    • Article
      Lead
      71 8 LONDON, Wed. Lead lost £5.25 per tonne for cash and £4.50 for Three Months In the morning. The sagging trend reflected the general tendency In base metals with continued liquidation taking Three Months down to £359 In the pre-market before short-covering and some physical enquiry from the continent served
      71 words
    • Article
      Zinc
      55 8 LONDON, Wed. Zinc eased by £2.75 for Cash and £2.25 for Three Months In the morning. Values were shaded in sympathy with copper although some European physical demand gave underlying support, dealers said. Three Months traded throughout the morning within the range £387 to £389 per tonne. Sales of
      55 words
    • Article
      Rice
      204 8 BANGKOK, Wed. Indicative prices quoted for rice were: US dollars per tonne fob basis Bangkok 100 per cent Ist class 286 100 per cent 2nd 269 100 per cent 3rd 264 5 per cent 254 10 per cent 233 IS per cent 230 20 per cent 227 25 per
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    • Article
      Duty rates
      61 8 THE Malaysian Minister of Finance has fixed these duties from April 7 until further notice; Rubber 92*« cts a lb Copra $1,198.00 Palm Kernel 5235.25 a ton. The rates of duties payable are: Rubber 11% cts a lb Surcharge s'/, cts a lb (Total 16 7 4 cts
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    • Article
      Coffee
      331 8 LONDON. Wed. Robusta futures ended the opening call irregular, but with gains of £139 to £80 per tonne compared to last night. 895 lots were traded. The largest gains were In the near positions which closed depressed last night May rose £139 at £3,851 while July put on £121
      331 words
    • Article
      Soybean
      149 8 CHICAGO, Tues. After reaching new seasonal highs in earlier dealings, soybean futures retreated In late trading. Final gains ranged from 21 to 20 cents a bushel In old crop months to one to six cents In new crop positions. The larger-than-expected exports last week and renewed talk of Chinese
      149 words
    • Article
      Wheat
      120 8 CHICAGO. Tues. Wheat futures closed at the day's lows, ending the session with losses of 3 3 4 to 3'-4 cents a bushel. May, 1977 closed within two cents of the season low. The strong early advance in soybean futures generated enough speculative support to bring small gains but
      120 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        591 8 THE US dollar reversed its downtrend against the Japanese yen yesterday in the Singapore foreign exchange market to hold steady at 273 yen level for the greater part of the trading session. Dealers attributed the rise to possible intervention by the Bank of Japan at the 272.90 yen level.
        591 words
      • Article
        Asian $ rates
        175 8 Asian rates ASIAN currency deposit Interbank rates as at close on April 6 7 days 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths I S Dollar.!Spot! Offer Bid Sl/8 S Sl/8 S 5 3 16 Sl/16 SS/16 S 3/16 5 5/8 51/2 5 7/8 5 3/4
        175 words
      • Article
        Discount
        49 8 RANGE of prices offered by dlscount houses on April 6 Overnight 3% Call deposit 3% Ckwiag Buy Selling 3-month Treasury bills 3 2 7/8 3-Month Bank bills 4 1/16 3 15/16 3-Month CD 4 5/16 4 3/16 0-Month CD 4 1/2 4 3/8 Source: National Discount Co. Ltd.
        49 words
      • Article
        Euro $ rates
        181 8 Euro rates LONDON. Wed. Eurodollar deposits opened basically steady, and showed little changed In early trading, although funds tended to come in the middle of quoted ranges, dealers said. Some Singapore taking interest was noted but this was readily absorbed. Dealers noted a lack of general Interest with most operators
        181 words
      • Article
        London
        301 8 LONDON. Wed. Sterling and the US dollar eased marginally in quiet opening trading here with the UK currency quoted around $1.7193/ 95 against $1.7198/ 7200 overnight, dealers said. They attributed the slight weakness of the UK currency to position squaring ahead of the long holiday weekend. The Bank of
        301 words
      • Article
        New York
        212 8 NEW YORK. Tues. The yen closed sharply higher than overnight levels after it continued to advance from the London close in unusually active afternoon trading here, dealers said. It was quoted in late trading at 0.3672/74 cents after most Interbank trading stopped at 0.3668/70 and compared with 0.3664
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      • Article
        Hongkong
        163 8 HONGKONG. Wed. The US dollar eased to HK54.6265/85 in late afternoon trading from Monday's closing $4.6380/90. following Its weaker trend overseas, dealers said. Many operators still feel local interest rates may be cut further before long, but the failure of recent exchange banks association meetings to take any such
        163 words
      • Article
        Tokyo
        91 8 TOKYO. Wed. The yen weakened on the local foreign exchange market in fairly active trading but closed above the day's low. dealers said. The currency closed at 273.10 to the dollar for overnight delivery. Dealers reported demand for the dollar in early trading reflecting settle- ment needs and buying
        91 words
      • Article
        Treasury bills tender
        40 8 THE Monetary Authority of Singapore (MAS) Invites banks and discount houses to tender for: $30 million 91-day Trea- sury Bills to be issued from April 11 to April 15 Each tender must not be less than $250,000.
        40 words
      • Article
        Minimum lending rates (in %)
        60 8 Minimum lending rates (in ACBl* 6'« First Chicago 6'. Algemene Bank (J*. Citibank 6'« Bangkok Bank 7 HSBC 7 Bank of America 6'« Indosuez 8*« Bank of China 7 Malayan Banking 6 1 Bank of Tokyo Mitsui Bank 6'« Bank Negara OCBC 6'. Indonesia 7 OUB 6V. Chartered Bank 6'.
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      • Article
        Australia/NZ
        50 8 Australia/NZ exchanges quoted on April 6 Australia: Sterling 0.6476/0 6406 US dlr 1.1101/1.1053 Ninety-day air mail buying rates: Sterling 0.6679 US dlrs 1.1355 Ninety-day forward buying rates: Sterling 0.6474 US dlrs 1.0985 New Zealand: Sterling 0 5605/0.5575 US dlr 0.9686/0.9586 Ninety-day forward rate: Sterling 0 5829 US dlr 0.9866
        50 words
      • Article
        Zurich
        41 8 ZURICH exchanges closing quotes on April 5 US 2.5393-5400 UK 4.3690-3715 Can 2.4065-4085 W Germ 106.32-38 Neth 102.05-12 France 51.14-17 Belg 6.94-1/4-94-3/4 Demn 42.18-21 Norw 47.65-68 Swed 58.03-07 Italy 0.2863-2866 Austria 14.98-15.00 Port 6.55-57 Spain 3.69-69-3/4 Arg 0.70-85 Japan 0.92-3/4-93-1/4
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      • Article
        Frankfurt
        47 8 FRANKFURT exchanges opening quotes on April 6 US 2.3867/ 77 (2.3887/ 92) Can 2 2600/ 20 UK 4.100/ 115 Neth 95.85/ 96.00 Switz 93.90/ 94.05 Italy 2.685/ 270 France 48.02/ 17 Norw 44.78/ 86 Belf com 6 520/ 535 Belg fin 6.52/ 54 Japan 0.8740/ 50
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      • Article
        Eurobond prices
        321 8 LONDON, Wed. Straight Eurobonds firmed about '4 point in quiet trading, dealers said. Convertibles issues largely held yesterday's levels in quiet trading. LONDON eurobond prices quoted o April 6 Straights Bid Offer Austria 8% 90 100 101 Bell Canada 8* 86 104* 105* BFCE8* 83 102'.. 103 Brazil
        321 words
    • Article
      Sugar
      204 8 LONDON. Wed. -Terminal opened steady, trade buying being met by good mixed scale-up selling Interest. The London dallv raws price Increased £4 to £136 per tonne. The whites price was raised £2 to £141. Market reports said Honduras sold half a cargo of raw sugar to a US house
      204 words
    • Article
      Copper
      255 8 LONDON. Wed. Copper wirebars fell by £22 per tonne for Cash and £23 for Three Months In the morning. The market was unsettled by the overnight shake out in US futures, lower gold and poor physical offtake prior to the Eastern recess, dealers said. In the pre-market. Three Months
      255 words
    • Article
      Siver
      157 8 LONDON, Wed. Silver showed losses of 6.8 to 8.7 pence per troy ounce In the morning. Values declined In the pre-market reflecting the sharp overnight drop at New York and lower gold this morning, trade sources said. Some chart selling was also reported with Three Months trading down to
      157 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      471 8 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 Straits Times Annual
      471 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Ship simulator facility for sea captains
      311 9 Reuter NEW YORK, Wed. Clanging bells, radio messages from shore and shouts back and fourth between the bridge and engine room, a 250,000-tonne oil tanker glided through blinking buoys marking the channel of one of the world's few deep-water harbours. Without the aid of
      Reuter  -  311 words
    • Article
      Lock icon US car sales top one million mark in March
      305 9 UPI DETROIT, Wed. Domestic and foreign car makers reported yesterday that Americans bought 1,085,000 cars In March, the first time In 45 months the industry has topped the one million sales mark. The big gainers were midsized and larger US cars
      UPI  -  305 words
    • Article
      Lock icon London freight market
      203 9 AP LONDON, Wed. Dull conditions returned to all corners of the freight market yesterday but brought no significant change in the overall rate structure. Hampton Roads coal shippers repeated US$6.B5 (discharge free) for a 50,000tonne April 20-25 movement to Constantza, while another steady rate was the US$lB.5O
      AP  -  203 words
    • Article
      Lock icon Concern over weak US flag fleet position
      730 9 LONDON, Wednesday Reuter GREAT concern over the small proportion of United States foreign trade carried in U.S. flag vessels was expressed by Congressman John Murphy, chairman of the Merchant Marine and Fisheries Committee at the recent Seatrade Conference, "Money and Ships 77." U.S.
      Reuter  -  730 words
    • Article
      Lock icon NORWAY ORDERS WORLD'S 2 LARGEST SUPERTANKERS
      173 9 AP OSLO, Wed. Norwegian shipowners Slg. Bergesen D.Y. and Company announced yesterday they have ordered the world's two largest dlesel-powered supertankers 320,000 deadweight tonnes from the Japanese Mitsui engineering and shipbuilding company for delivery In the first and last quarters of 1979. Despite the
      AP  -  173 words
    • Article
      P & O joins Saudi Arabia-American transport firm
      502 9 P O joins Saudi ArabiaAmerican transport firm PENINSULAR and Oriental Steam Navigation (PandO) is Joining Saudi and American interests in the formation of a new inland transport company The National Transport Company of Saudi Arabia to provide road transport and associated services throughout Saudi Arabia and the Arabian peninsular. The
      502 words
    • Article, Illustration
      IN PORT
      266 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Benwyvts (UTM/L) (1900 after Bunga Orkid Kostrena) (Must head West) 33/34 Ever Rellancp (Clinker) (Bkel) (0030) tide) (Must head west) 3 Golden Hill (1500 after King River and Samson) 23 Hong Leong (0700) (Subject freeboard) 21 East Maxim Gorkly (1100 after Kota Ball)
      266 words
    • Article
      Lock icon Maritime hearings
      29 9 Reuter WASHINGTON. Wed. The United States Federal Maritime Commission (FMC) said it will schedule hearings on whether the Soviet Union should Join North Atlantic shipping conferences. Reuter.
      Reuter  -  29 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      574 9 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG MAS MH682 0810 KCH CPA CX710 1000 HLP SIA SQ21I 1015 HLP GIA GA980 1030 HLP GIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES RBA BI325 1155 BWN SIA SQ201 1200 HLP
      574 words
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      Page 9 Advertisements Column 1
      376 9 The first new idea in encyclopaedias in over 200 year- Britannica 3. Britannica 3 does what no other That's what makes it the most useable reference work encyclopaedia has ever done before: It serves ever developed. That's why Britannica 3 the three basic needs of users in is the encyclopaedia
      376 words
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  • Article
    Lock icon U.S. WAITS ANXIOUSLY FOR THE CARTER ENERGY PROGRAMME...
    1236 10  -  By LEONARD SILK NYT THE United States waits anxiously for the Carter energy plan. It is talcing shape as a spartan, threatening programme that one drafter has laconically encapsulated as "use less and pay more." Though the particulars remain in flux, nothing
    NYT  -  1,236 words
  • Article, Illustration
    Lock icon The wide chasm facing Owen on his African tour
    1096 10  -  By MOHSIN ALI Reuter BRITAIN'S new Foreign Secretary Dr David Owen during his forthcoming southern Africa tour hopes to find a basis for resuming negotiations toward a peaceful transition to black majority rule in Rhodesia In 1978. Dr Owen, who became
    Reuter  -  1,096 words
  • Article, Illustration
    Lock icon Few tourist bargains despite the weakened lira
    748 10  -  By JACK PAYTON UPI TOURISTS planning to snap up bargains In Italy this summer because of the weakened lira have a surprise coming. Though the Italian currency has dropped 27 per cent in value compared to the US dollar over the past year,
    UPI  -  748 words
  • Article
    Lock icon London is still 2 Londons
    747 10  -  By PETER SHAW UPI BY DINT of Parliament's swift bludgeon, there are still two Londons. One Is the London of seven million Inhabitants administered by the Greater London Council (GLC). The other is the City of London, the square kilometre nesting within Greater London that
    UPI  -  747 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      229 10 r FOULKS LYNCH-london in association with FEDERAL PUBLKAnONS is pleased to announce the inauguration of a local home study centre that will be of special benefit to all accountancy students in South East Asia. Combining the international experience of Foulks Lynch with the specialised local knowledge of Federal Publications, this
      229 words
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  • Article
    Lock icon Forecast of higher cocoa output for Malaysia in 1980
    462 11 Reuter WASHINGTON. Wed. Malaysian cocoa bean production could reach 30,000 tonnes by 1980 compared with an estimated 22.000 tonnes produced in 1976. the US Agriculture Department reported In a field report from Kuala Lumpur, the Department said growers have been increasing
    Reuter  -  462 words
  • Article
    Lock icon Minister in Ottawa
    49 11 Reuter OTTAWA, Wed. Mr. Yle Joon Chang, South Korean Minister of Industry and Commerce, arrived here yesterday for three days of general trade talks with senior Canadian ministers and officials. Talks are also scheduled with officials of Atomic Energy Canada and the Canadian Export Development Corporation.
    Reuter  -  49 words
  • Article
    Lock icon Libyan envoy gets a feel of Manila Muslim dispute
    621 11 Reuter ZAMBOANGA CITY. Wed. Mrs Imelda Marcos, wife of the Philippine President. today brought a personal representative of Libyan leader Muammar Gaddafi for a quick, first-hand study of the Muslim dispute in the southern Philippines. Mrs Marcos flew in with Sayyed
    Reuter  -  621 words
  • Article
    Lock icon Some rain, but it's still not enough
    113 11 Reuter WASHINGTON, Wed. The US Agriculture Department said some rainfall fell in the southern fringe of China's main winter wheat belt, but there was little significant precipitation In the main portion of winter wheat-growing provinces up to April 3. The department, in its
    Reuter  -  113 words
  • Article, Illustration
    Lock icon Modernising the army top priority in China
    792 11 NYT NEW YORK: China plans to reorganise its army into a smaller, more flexible force with more modern weapons and with a more centralised command and control system. This is the conclusion that American and British diplomatic sources in Peking have drawn from
    NYT; AP photo  -  792 words
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    Lock icon Defiant Pak newsmen in press freedom march
    222 11 Reuter KARACHI. Wed. Some 2,000 journalists and other newspaper workers marched through the streets of Karachi yesterday demanding greater freedom for Pakistan's Govern-ment-controlled press. The marchers, who defied a Government ban on processions, chanted slogans calling for the lifting of a state of
    Reuter  -  222 words
  • Article
    Lock icon UN meet on disaster relief
    93 11 UPI MANILA, Wed. The United Nations has scheduled a meeting in Manila on April 12 and 13 to discuss disaster preparedness and emergency relief coordination In 17 "disaster prone" countries in Asia and the Pacific. Mr. Faruk Berkol, United Nations disaster relief coordinator, said the
    UPI  -  93 words
  • Article
    Lock icon Indian opposition air their views
    367 11 UPI NEW DELHI, Wed. The new Indian Government, headed by Prime Minister Morarji Desai, yesterday implemented Its pledge to give the opposition full opportunity to present its views through Govern-ment-owned news media. For the first time In the 30 years of India's independence. the opposition
    UPI  -  367 words
  • Article
    Oak Steel man is in Birmingham mission
    215 11 A REPRESENTATIVE of the largest private British steelmaker will be visiting Singapore from April 16 to 23 as a member of the Birmingham Chamber of Industry and Commerce trade mission. For its delegate, Mr. J.T. Smith, export sales manager of Round Oak Steel
    215 words
  • Article
    Lock icon Drought-hit Luzon rations its water
    199 11 Reuter MANILA. Wed. Staggered cuts in water supply in Manila for up to 24 hours and a ban on wasting water or watering gardens have been imposed around the northern island of Luzon where a drought is already playing havoc with power supplies. In the
    Reuter  -  199 words
  • Article
    Lock icon Lectures await Peking visitors
    423 11 Reuter UPI AP PEKING, Wed. China is expected to use the influx of visitors to Peking this week to Impress upon them and the world, the dangers of Soviet expansionism. And China Is hoping that Its most Important visitor British opposition Conservative Party leader Mrs. Margaret
    Reuter; UPI; AP  -  423 words
  • Article
    Lock icon BID TO REVERSE DETENTE: MAG
    318 11 UPI MOSCOW. Wed. The Soviet International monthly magazine, Soviet Union's April edition, charges that attempts are being made to reverse detente or restrict It only to Europe. The article, focusing on Asian security, said, "lasting peace cannot be the privilege of Just one continent. Peace
    UPI  -  318 words
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    Lock icon Suharto's guest
    58 11 Reuter JAKARTA, Wed. Deputy Japanese Foreign Minister Kelseku Arlta today met Indonesian President Suharto and presented him with a message from Prime Minister Takeo Fukuda. Mr. Arlta, who arrived here yesterday, also discussed with Mr. Suharto matters relating to bilateral and regional issues. Earlier Mr. Arlta held talks
    Reuter  -  58 words
  • Article
    Lock icon Sugar is still Manila's top export earner
    270 11 Reuter UPI MANILA, Wed. Sugar remained the Philippines top export earner In 1976 even though its actual share of total exports dropped, according to statistics Just released in the Central Bank annual report. It brought in U*****.2 million (551.049 million), down from 1975's
    Reuter; UPI  -  270 words
  • Article
    Lock icon GENBANK TO GET NEW CAPITAL
    127 11 Reuter MANILA, Wed. A consortium which has purchased the General Bank and Trust (Genbank) will form a new corporation and inject 200 million pesos of fresh capital, acting board chairman Sixto Orosa said. Mr. Orosa told newsmen the corporation, for which final Central Bank approval
    Reuter  -  127 words
  • Article
    ICL wins Metro contract
    159 11 INTERNATIONAL Computers Limited (ICL). which may be Incorporated In Singapore as an independent subsidiary soon, has Just won a $500,000 contract from Metro. Metro has ordered an ICL 2903 computer for accounting and Inventory control application, in line with Its extensive expansion and increased sales. ICL
    159 words
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      Page 11 Advertisements Column 1
      306 11 APPOINTMENTS 4 PROMET GROUP OF COMPANIES We invite applications from suitably qualified personnel for the post of: y>>i i ik They will be required to work on their own initiative and be responsible for the day-to-day accounting operations. Applicants should possess qualifications recognised by the Singapore Society of Accountants and
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      Page 11 Advertisements Column 2
      332 11 Major U.S. Manufacturing Company which will soon start operation in Singapore invites application for position of: ACCOUNTANT Qualifications. Recognised University degree or professional qualifications in Accounting. Three to five years' experience in financial and cost accounting. Preference given to candidates with strong exposures in the manufacturing sector. Remuneration: Salary will
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  • Article
    Lock icon Air Siam faces $246,000 SIA suit
    129 12 AP BANGKOK. Wed. Singapore Airlines has filed a suit against defunct Air Siam for more than USSIOO.OOO (*****.000) in unpaid debts, a spokesman for the Singapore flag carrier confirmed today. The suit, filed in civil court In Bangkok, asked the court to declared Air
    AP  -  129 words
  • Article
    Tractors sues
    66 12 TRACTORS Singapore filed a suit amounting to $194,301.28 against Kim Hup Seng yesterday at the High Court. Tractors Singapore alleged that the amount is due to it for the balance of goods sold and delivered to the defendant. A granite supplier, Mr. Ng Kak Soot, is suing Alpha
    66 words
  • Article
    'Workers need right skills and attributes'
    421 12 SINGAPORE'S labour-force must have the necessary industrial skills and work attributes to ensure that its goods and services are of the highest standards required to gain international acceptance. This, warned the Minister of Labour, Mr. Ong Pang Boon, is because the international environment for
    421 words
  • Article
    LONDON STOCKS
    777 12 LONDON, Wed. Government stocks closed a little below the day's highs while leading industrials finished around their lower levels, dealers said. At 3 p m.. the Financial Times Index was down 2.1 at 400 4 Light buying interest and hopes of a small cut In the minimum lending
    777 words
  • Article, Illustration
    Lock icon Fukuda letters for Soviet leaders
    240 12 Reuter MOSCOW, Wed. Special Japanese envoy Sunao Sonoda arrived in Moscow yesterday on a mission to break the deadlock In Soviet-Ja-panese fishery talks. Chief cabinet secretary Mr. Sonoda, carrying personal letters from Japanese Premier Takeo Fukuda to Kremlin leaders, was met at the airport by
    Reuter; UPI photo  -  240 words
  • Article
    The uncalled – for loss...
    139 12 The uncalled for loss... IPOH, Wed. Malaysia is losing about Mslo million a year in foreign exchange through the export of orchids, the secretary general of the Perak Orchid Society, Mr. Ng Yin Heng, said here today. The reason is that Malaysia has no "hardheaded middlemen" who can act between
    139 words
  • Article
    Lock icon Pan Am will bypass UK if pact isn't reached
    430 12 NYT WASHINGTON, Wed. Pan American World Airways has contingency plans to bypass Britain If the US and United Kingdom fall to reach a new bilateral agreement and the British discriminate against US airlines. Pan Am chairman William Seawell said yesterday "We
    NYT  -  430 words
  • Article
    A $10mil project which Asean should look into
    607 12 THE manufacture of electronic switching equipment for the telecommunications industry Is one project which Asean could look into, once the five designated industrial projects get under way. This will be one of the Industries which Dr. Ker Sin Tze, an economics lecturer
    607 words
  • Article
    Wheels are turning for car rental firms
    939 12 THE rent-a-car business in Singapore has picked up considerably of late and figures for the first quarter of this year indicate a 20 per cent increase in rentals over the same period of 1976, according to a leading local car-hire firm. As a
    939 words
  • Article, Illustration
    Canada should set up factories in S'pore
    239 12 MR. Tan Song Chuan, deputy trade director in the Finance Ministry, yesterday suggested that Canada could set up plants In Singapore and re-export Its goods to this region and otherparts of the world. As Canada's production costs were high, its Industrialists should look
    239 words
  • Article
    More borrow to buy homes
    129 12 THE number of Singaporeans taking housing loans from finance companies has increased greatly since last year, according to statistics from the Monetary Authority of Singapore. At the end of January, total housing loans came to $456 million, which is 26 per cent higher than last
    129 words
  • Article
    FEFC cargo checks here
    227 12 THE Far Eastern Freight Conference (FEFC) has put an end to the cargo control controversy by making physical checks on out-ward-bound cargoes here instead of at its destination. This has been the practice §ince the FEFC began its trial operation on March 1 to determine if
    227 words
  • Article
    Lock icon Aussies told to tighten belts
    252 12 Reuter CANBERRA, Wed. Prime Minister Malcolm Fraser told Australians tonight they had to pull in their belts by accepting wage restraint in order to beat Inflation and restore the country to economic health. He warned that Australia had spent too much for too long, priced
    Reuter  -  252 words
  • Article
    Judgment on Harun appeal reserved
    302 12 KUALA LUMPUR. Wed. rii Federal Caurt of Appeal today reserved judgment on a petition by former Selangor Mentri Besar Datuk Harun Idrls that his conviction and sentence on corruption :harges involving the Hongicong and Shanghai Bank be set aside. Judgment on a counter petition by
    302 words
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      244 12 Hongkong Land: Record Dividend as Profits Climb Increased Profits 1976 Group profits after tax up 16.5% to *****.8 million (5591.7 million in 1975). Record Dividend Final dividend of 11.65 cents recommended, making a total of 17.48 cents for the year, 13.8% up on 1975. Dividend cover increased to 1.27 times.
      244 words