The Business Times, 16 April 1977

Microfilm: NL9063
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, APRIL 16, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Advisers to Petronas
      46 1 Reuter KUALA LUMPUR, Frl. The Malaysian stateowned oil firm, Petronas, said It appointed Morgan Guaranty Trust of New York and ArabMalaysian Development Bank as financial advisers for Its M 52.5 billion gas project In Sarawak due to start In the early 1980s. Reuter.
      Reuter  -  46 words
    • Article
      Lee sues three
      39 1 PRIME Minister Lee Kuan Yew yesterday filed three separate writs with the High Court suing three Individuals for slander. The defendants are Chan Yang Ling, Wong Kui Yu and Hwang Ban Cheong, alias Ng Poh Chong.
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    • Article
      Lock icon Dollar up again
      50 1 AP TOKYO, Frl. Brisk buying of the US dollar pushed it up sharply against the Japanese yen for the third straight day on the Tokyo foreign exchange market today. The dollar for overnight delivery closed at 274.675 yen, up sharolv from 273.075 yen at yesterday's close. AP.
      AP  -  50 words
    • Article
      Lock icon New oil contracts
      34 1 Reuter MANILA, Fri. The Philippines has signed new oil contracts with several countries, especially its main Saudi Arabia and China, to ensure energy supplies for 1977, President Marcos announced today. Reuter.
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    • Article
      Lock icon Talks on air links
      33 1 UPI BANGKOK, Frl. Vietnamese and French officials are meeting in Paris to discuss opening air links between the two countries, the official Vietnam News Agency (VNA) said today. UPI.
      UPI  -  33 words
    • Article
      Lock icon Uranium for export
      32 1 Reuter CANBERRA, Fri. The Australian Government has released 2,000 tonnes of uranium oxide (U308) for export from the Australian Atomic Energy Commission stockpile, Environment Minister Kevin Newman said. Reuter.
      Reuter  -  32 words
    • Article
      Lock icon Taste of bitterness
      50 1 Reuter SHANGHAI, Fri. Wall posters have appeared In China's largest city appealing for more food and complaining the "masses are eating bitterness." Two posters plastered to the Port Authority building along the bund (harbourslde) urged Shanghai administrators to ease the rationing on rice and cooking oil. Reuter.
      Reuter  -  50 words
    • Article
      Lock icon Probe into scandal
      43 1 AP ZURICH, Fri. Federal authorities said today they would examine Switzerland's newest and possibly biggest bank scandal in which Credit Suisse, one of the country's big three commercial banks, suffered losses that could total 250 million francs (***** million). AP.
      AP  -  43 words
    • Article
      Lock icon Fish talks to reopen
      39 1 Reuter MOSCOW, Fri. The Soviet Union and Japan whose crucial fishing talks broke down here yesterday agreed today to start a new round of negotiations at the beginning of next month, Japanese sources said. Reuter.
      Reuter  -  39 words
    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Fri. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 946.15, down 0.85; 20 transp 234.32, up 0.15; 15 utils 108.70, down 0.23; 65 stocks 313.49, down 0.22. UPI
      UPI  -  44 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      181 1 SHARES closed mixed in moderate trading in the Stock Exchange of Singapore yesterday after intermittent bouts of profit-taking pared early gains. Most of the active lower-priced shares, however, finished with marginal losses as reflected in the slight decline of 1.56 points in the Business Times index to
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    • Article
      In Kuala Lumpur Rises
      120 1 Rises Most active General Lumber 246,000 Berjuntal $14 60 +.10 Haw Par 123.000 Int. Wood $0 59Vk+ 09S Central Sugars 99.000 Bt Semb Matsushita yz 14 $2 05 .ue .05 Highland Lowland 93.000 Sovran SO 95 .05 Total Turnover: 1.28 M Dun lop Ind S3.28 .04
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  • Article
    Garment men here hold their breath
    896 1  -  PROTECTIVE MOOD IN THE U.S. By JOHN TAN SINGAPORE'S garment manufacturers would be severely hit If the current wave of labour discontent In the US against foreign Imports leads to discriminatory legislation. The garment Industry here accounts for 12 per cent of total employment
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  • Article
    Lock icon AUSSIES 'NO' TO MANILA TRADE REVIEW
    144 1 Reuter MANILA, Fri. Australia today rejected requests by the Philippines for an immediate review of the 1975 trade agreement betweeiTthe two countries. This follows similar decisions already given to two other members of Asean Indonesia and Singapore. He leaves tomorrow for Thailand and later
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  • Article
    Asean not ready for EEC style union
    399 1 ASEAN Is not yet ready for an economic union along the lines of the European Common Market, and it will not be ready for at least another 25 years. This was Indicated in an interview which the Prime Minister, Mr. Lee Kuan Yew
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  • Article
    Lock icon Client may cost Credit Suisse $246 mil
    305 1 Reuter AP ZURICH, Frl. One of Switzerland's big three banks, Credit Suisse, could lose up to 250 million Swiss -francs (***** million) following financial difficulties suffered by a major foreign client, bank officials said. Managers at the bank's branch in Chlasso in south
    Reuter; AP  -  305 words
  • Article
    Lock icon US to stabilise commodity prices
    170 1 UPI WASHINGTON. Frl. President Carter said today his administration will hold talks aimed at reducing sharp changes In the world price of commodities. "Trade can play an important role In the fight against Inflation," he said, announcing his antllnflatlon programme at a news conference. "We
    UPI  -  170 words
  • Article
    Lock icon Publisher arrested
    74 1 UPI BUENOS AIRES, Frl. The publisher and assistant publisher of one of Argentina's leading newspapers were arrested at their homes early today In the investigation of the affairs of the late financier David Oralver, family sources said. jacobo Tlmerman, publisher of the newspaper La Opinion, and Enrique Jara,
    UPI  -  74 words
  • Article
    Makers plan to seek help
    141 1 LOCAL garment manufacturers plan to seek Government aid to cushion further restrictions on US apparel imports that may result following the present spree of trade union protests In the States. The manufacturers disclosed yesterday they are planning to seek supplementary quotas from the Government. In
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  • Article
    Lock icon Finance Ministry confirms DM 100 m issue
    201 1 Reuter THE Ministry of Finance yesterday confirmed that the Government will be Issuing a DMIOO million bond at a coupon rate of 6.5 per cent. The six-year bond Is coming out with a coupon rate well in line with current market rates of
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  • Article
    Lock icon Kaunda doubts
    59 1 Reuter LUSAKA, FIT Zamblan President Kenneth Kaunda today expressed doubt that Britain could pull off a peaceful transition to black majority rule in Rhodesia. British Foreign Secretary David Owen, reporting on a three-hour meeting with the Zamblan leader, said Dr. Kaunda had offered every help to get the
    Reuter  -  59 words
  • Article
    Lock icon Britain's CoL higher in March
    243 1 Reuter LONDON, Fri. Britain's annual rate of inflation roae to 16.7 per cent in March compared with 16.2 per cent the previous month, the Employment Department reported today. The increase in the cost of living, although relatively slight, will embarrass the Labour Government in its
    Reuter  -  243 words
  • Article
    Bahasa a 'must' in adverts
    84 1 KUALA LUMPUR, Frl. City Hall Is to revise Its bylaws on advertising soon to make it mandatory for all advertisers to use Bahasa Malaysia on billboards, banners and posters. Under the City of Kuala Lumpur (Advertisement) By-Laws 1977, to be gazetted soon, Bahasa Malaysia must
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  • Article
    Lock icon Anti-inflation package stresses voluntary cooperation
    578 1 Reuter WASHINGTON, Frl. President Carter unveiled an antl-lnflatlon programme today relying chiefly on voluntary cooperation between business, labour and Government. He said he believed cooperation could aim reasonably at reducing the current rate of Inflation of about six per cent by two percentage points by
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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
      136 1 the dream car of pure opulence Comprehensively equipped and lavishly appointed, PEUGEOT 604 is a triumph of achievement for it's makers It transcends all known parametersof design, engineering, comfort and performance to emerge as the Dream Car of the present day A 2 6 litre OHC engine powers the 604
      136 words
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      Page 1 Advertisements Column 3
      67 1 _-;+~-`$`(@"{]$^_?)>]@@]&=%~,)} Calling all industrialists -r-rrnTfTTT We have a wide variety of factory premises for purchase or lease in Jurong and throughout Singapore. Areas ranging from 322 sq.m. to 15,000 sq.m. Call our Industrial Dept. Tel: *****6 JINKS UUK a Property Consultants Suite 504, sth Floor, Ocean Building, Collyer Quay, Singapore
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  • MARKET REVIEW
    • Article
      SINGAPORE
      547 2 SHARES staged a moderate rally for the better part of this week at the Stock Exchange of Singapore. Sentiment was aided by the general improvement noted in stock markets abroad. Wall Street, In particular, appeared to have shaken off its bearish spell. Along with the steadier trend in the
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    • Article
      KUALA LUMPUR
      494 2 MOST shares on the Kuala Lumpur Stock Exchange closed steady this week despite an easier opening and disruptions to trading during mid-week when communication facilities between the exchange and most of Its member firms broke down. Trading on Wednesday was consequently reduced to about a third of Tuesday's
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    • Article
      EASTER BREAK HELPS SHARES
      421 2  -  LONDON By IVAN FALLON LONDON: Brokers and Jobbers returned to the London Stock Market on Tuesday after a four day Easter break clearly feeling the better for their holiday. Share prices which had been In the doldrums, straying down near the psychologically Important area of 400
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    • Article
      Sime's move north
      236 2 THERE has been some keen professional Interest In the shares of Slme Darby London7~*created to take over Cllve Holdings five years ago and now little more than a shell, following reports that Slme Darby Holdings will probably take steps to transfer Its registration from London to Malaysia
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    • Article
      Wilson's friend under siege
      431 2 ERIC Miller has recent years transferred his allegiance from the Conservative Party to the Labour Party, became a friend of Sir Harold Wilson, lent him his helicopter for the 1974 election campaign and received his reward In Sir Harold's controversial resignation honours list a knighthood. Now
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    • Article
      Lock icon Waiting for Jardine
      155 2 Reuter PROFIT figures irom Hutchison International were not greeted here with uninhibited enthusiasm the shares were marked down two pence although at that level they were finding buyers and second thoughts seemed to indicate the figures were better than at first sight. The profits had been an-
      Reuter  -  155 words
    • Article
      Lock icon SYDNEY
      272 2 Reuter THE wage-and-price freeze measure threw the Sydney Share Market in turmoil this holiday-shortened week. The announcement of a nation-wide Governmental decision on the freeze, and the union opposition to the idea, plunged the equities market into uncertainty. Observers noted that in the unsettled background developments, share prices tended
      Reuter  -  272 words
    • Article
      Company news for the week ended Apr 15
      298 2  -  Compthid by RONALD LAM OTHER ANNOUNCEMENTS Boustead Holdings shareholdlng In Barlow Boustead Estates Agency has been reduced from 35 per cent to 24.5 per cent. The reduction Is due to the recent issue of shares by Barlow Boustead Estate to Malaysian Institutional
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      286 2 Business Times i I i I iW* a money-saving 4 bonus offer for all theii advertiseis Effective from now to September 30,1977 We have great news for all advertisers: From now to September 30, 1977, Business Times will offer advertisers a FREE additional insertion for every two insertions appearing in
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  • OVERSEAS
    • Article
      Lock icon European float may adopt sliding points
      451 3 Reuter FRANKFURT, Fri. The latest European Joint float realignment may have brought the float authorities a step nearer to an eventual agreement on indexing intervention limits within the system, currency dealers and bank economists said. Substitution of sliding instead of rlgldly-head intervention limits would
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    • Article, Illustration
      Lock icon Stevedores strike at New Jersey
      82 3 BOXCAR-SIZE containers lined up in orderly rows stand idle (foreground) at the Weehawken, New Jersey, pier of Seatrain Lined Inc., on Thursday as a strike by thousands of stevedores against seven major shipping companies went into effect. The strike, aimed at companies which handle containerised
      AP picture.  -  82 words
    • Article
      Lock icon N.Y. City to pay back loan
      126 3 Reuter NEW YORK, Fri. New York City said it plans to repay two seasonal loans to the Federal Government today amounting to a total of US$65O million (551,560 million). The city said the first loan Is for US$5OO million borrowed on July 1, 1976,
      Reuter  -  126 words
    • Article
      Lock icon Italy hopes to get first IMF loan
      344 3 ROME, Fri. Reuter ITALY hopes to get a first instalment of around US$lOO million (Ss24o million) in early May on the US$53O million loan It Is seeking from the International Monetary Fund, senior government officials said. Italy also expects shortly to obtain a
      Reuter  -  344 words
    • Article
      Lock icon ROME PLAN TO REDUCE RATES
      250 3 Reuter MILAN, Fri. Italy will be able to lower interest rates as soon as the government has achieved the sharp reduction in inflation it is aiming for in the next 12 months, Prime Minister Giulio Andreotti said. "This is an objective which we must achieve
      Reuter  -  250 words
    • Article
      Lock icon 'America is running out of fuel'
      350 3 UPI AP NEW YORK, Frt. Mr. James Schleslnger, President Carter's special assistant for energy, said in an Interview released yesterday the United States Is running out of fuel and there is no alternative to conversation. "If one compares the energy efficiency of Industrial sectors
      UPI; AP  -  350 words
    • Article
      Lock icon Social security payments distort money figures
      278 3 Reuter NEW YORK, Frl. The sharp US$5 billion (Ssl2 billion) rise in money supply during the April 6 week may be due In part to a fluke of the calendar, a spokesman for the Federal Reserve said. The spokesman said social security administration policy
      Reuter  -  278 words
    • Article
      Lock icon Denmark talks on credit
      87 3 Reuter FRANKFURT, Frl. Denmark is negotiating with German banks to raise a fixed interest bank credit, probably at least 300 million marks, in addition to the 200 million mark Eurobond It plans to bring the market next week, banking sources said. The whole package is expected
      Reuter  -  87 words
    • Article
      Lock icon $60 m loan
      27 3 Reuter WASHINGTON, Frl. The World Bank announced US$25 million (Ss«o million) In loans to Cameroon to expand oil palm production In the country. Reuter.
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    • Article
      Lock icon Contrary views on the world economy...
      808 3 NEW YORK, Friday NYT SEVERAL analyses recently by international agencies and private sources have conveyed a sense of disappointment and concern over the state of the Western world's economic situation about the pace of the recovery abroad, the further rise of unemployment In some
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    • Article
      Lock icon UK sterling money supply up slightly
      524 3 LONDON, Fri. Reuter BRITISH sterling M 3 money supply rose by less than 0.1 per cent in the four weeks ended March 16 after falling 0.7 per cent In the four week banking period to Feb 16, the Bank of England said. This is
      Reuter  -  524 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      3 3 See Page 12)
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      Page 3 Advertisements Column 2
      95 3 FU RII ITU RE For OFFICE EQUIPMENT and QUALITY SHELVINGS 4 I A complete range of quality office furniture and equipment consisting of desks, cabinets, chairs and all other office requirements. V. lilj F ir OEM open and closed type shelvings provide flexi ble load carry capacity for every storage
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      308 3 RADIO TV SINGAPORE 5 1.00 P.M. Opening Announcements followed by Sesame Street 2.00 Saturday Matinee The Small World Of Sammy Lee Starring: Anthony Newley, Julia Foster, Robert Stephens 3.30 World Cup Soccer (Asian Zone) Singapore vs Hong Kong (English) 5.00 Sandiwara—A Malay Drama Entitled "Nani" (r) 5.40 Joe Forrester The
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    • Miscellaneous
      Page 3 Miscellaneous Column 2
      42 3 THE WEATHER WEATHER report for 24 hour* prior to 7.30 p.m. on April 15 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
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  • COMPANY NEWS
    • Article
      Genting land project gets green light
      707 4 THE Pahang State government and other authorities have given Oentlns Highlands the green light to proceed with one of the most ambitious land development projects ever to be undertaken by the private sector. A master plan by the tourist-hotel-casino group, which seeks to transform
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    • Article
      Kamunting coming home in June
      468 4 KAMUNTING Tin Dredging will be home in Malaysia in June, subject now only to shareholders' agreement. The formal document for the transfer scheme was released on Thursday a welcome sign that the London Tin scheme is on the move again after some delays. The document
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    • LATEST RESULTS
      • Article
        PAHANG CONSOLIDATED COMPANY
        58 4 Unaudited pre-tax profit M 52.77 million (51.23 million) on sales of tin concentrates $10.46 million ($8.86 million) for first six months ended Jan 31, 1976. Pre-tax profit Includes dividend and interest Incomes of $1.35 million ($1.49 million) and exceptional losses of $105,000 (loss, $1,000). Tax $1.24 million
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    • Article
      PEOPLE IN BUSINESS
      152 4 TED Bates, Singapore has appointed Mr. Colin Choo to Its board of directors. First National Bank of Dallas announced the promotion of Its Singapore general manager, Mr. Robert A. Theleen to vicepresident and Mr. Stephen Poh, foreign exchange manager, to manager of Foreign Exchange and Treasury Departments.
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    • Article
      UEM
      31 4 THE headline for the story on United Engineers (Malaysia) in the Business Times yesterday should read "UEM improves to Ms 7 million" Instead of "UEM Improves by Ms 7 million."
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    • Article
      DIVIDENDS ANNOUNCED
      649 4 Current payment Ex Date Date payable Total for the year Total far previous year Hume (F.E.) Batu Linlanf Austral Enterp. Talam Mine* Goodwood Park Hotel Malaysia Sel. Coconut* Kamunting Tin Sthn. Kinta Cona. K.L. Kepong Deb. M. BrfWrrif* Carls berg Ayer Hitam Tin Riverview Rubber Bedford Plantations G.E.
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    • Article
      Anrite buys Jamson shares
      205 4 ANRITE Aviation, a subsidiary of Pan-Electric Industries has acquired management control of a small aviation spare parts and air charter outfit called Jamson Aviation and Spares Pte Ltd. ran-El says In a statement that Anrlte will pay $221,650 to purchase 55,000 shares of Jamson at a
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    • Article
      Choudhury ousted
      137 4 BEN and Co shareholders yesterday approved, at an extraordinary general meeting, the removal of former chairman Mr. G.C.K. Choudhury as a director of the company. The ouster, which was Initiated by major shareholder, Straits Steamship, comes barely five months after Ben announced that Steamers would take control of
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    • COMPANY MEETINGS
    • Article
      CHICAGO BOARD OPTIONS
      1505 4 On April 14 TRADING In options on the Chicago Board Options Exchange on Thursday came to 165,911 contracts compared with 132,671 contracts on Wednesday. OPTION APL JLY OCT STOCK Alcoa SO 8 1/2 8 5/8 10 58 1/2 Alcoa 80 1/18 5/8 2 3/4 58 1/2 Am
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    • Article
      Earnings at City Developments tumble by 56pc
      1004 4 AN EXTREMELY poor second half-year caused group pre-tax profit at City Developments to tumble by a sharp 56 per cent to $468,000 for the year ended Oct 31, 1976. Against an Impressive ao per cent rise In group pretax profit to $1.02 million
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    • Article
      Lock icon Cosmetic makers to list product ingredients
      586 4 WASHINGTON: NYT FOLLOWING a two-year legal battle, the Food and Drug Administration will begin requiring the nation's cosmetics manufacturers to list the ingredients of their beauty and cleansing products. Despite assertions by manufacturers In the Industry that such lists contain trade secrets, the United
      NYT  -  586 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      198 4 Give us a man for a monthwell give him a language for life inlngua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency
      198 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Royal Dutch/Shell higher expectations
      1019 5 Reuter THE HAGUE, Frl. Royal Dutch/Shelll expects Its financial result for 1977 to be at least on a level with last year and hopes it will be better, president Mr. Gerrit Wagner said. The recovery of the world economy is currently hesitant. but indications in major
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    • Article
      Lock icon Hutchison on the road to steady recovery
      380 5 Reuter HONGKONG. Fri.— Hutchison International's group attributable profit of HK5122.8 million for 1976 shows the company is now headed on a path of steady recovery, although the figures were below market expectations, investment analysts said. They noted the profit figure was above the
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    • Briefly
      • Article
        TV networks
        56 5 WASHINGTON. Fri. Combined pre-tax profit of American Broadcasting's ABC. CBA's Columbia Broadcasting System and RAC's National Broadcasting increased 44.5 per cent to US$454 million In 1976, the Federal Communications Commission (FFC) said. The FFC said net broadcast revenues, including the companies' 15 owned and operated television stations rose
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      • Article
        Norwegian notes
        96 5 LONDON. Fri. The Kingdom of Norway plans to offer US$l5O million of notes at a coupon of 7 1/4 per cent maturing 1982, Hambros Bank said as syndicate manager. Other members of the syndicate are Credit Suisse White Weld, Den Norske Creditbank, Deutsche Bank. Ste Generale. Swiss Bank
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      • Article
        Fluor M-E
        66 5 LOS ANGELES. Fri. Fluor Mid-East announced yesterday It has been awarded a contract to build a natural gas processing plant costing US$25O million in Abu Dhabi. Fluor Limited in London will carry out the contract awarded by the Abu Dhabi national oil company to design, engineer and provide
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      • Article
        Immobiliare
        33 5 ROME, Fri. Generale Immobiliare said it reached agreement with banks on a solution to Its financial problems, involving a capital writedown to cover losses and a 35.5 billion lire convertible bond issue.
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      • Article
        Taiyo Koso
        51 5 TOKYO. Fri. The Tokyo district court appointed a provisional receiver for Taiyo Koso, a Japanese civil engineering firm, following Its application for court protection under the corporate rehabilitation law to reconstruct itself after Its business failure. The company said it has debts estimated at more than 10 billion
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      • Article
        Pye
        43 5 LONDON, Fri. Pye Holdings said that it was notified by Philips Electronic and Associated Industries *hat on April 1 they acquired from Philips Gloeilampenfabrieken 4,433,560 ordinary shares of Pye, which Is equal to nine per cent of the Issued ordinary share capital.
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      • Article
        HK Gas
        75 5 HONGKONG, Fri. Hongkong and China Gas said 96.33 per cent of its two for five rights Issue has been taken up by shareholders. Subscriptions for 4.58 million of the 4.75 million HKSI4 shares have been received, and the balance will be taken up by underwriters Schrdoders and Chartered
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      • Article
        O. Optical
        46 5 TOKYO, Fri. Net consolidated profit at Olympus Optical soared to 5.18 billion yen for the year ended Oct 31, 1976 from 3.69 billion previously. The buoyant earnings growth came on the back of sales of 70.06 billion yen against 58.78 billion yen last time.
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      • Article
        Bancom
        37 5 MANILA, Fri. Bancom Development, said net 1976 Income amounted to 17.57 million pesos compared with 12.62 million In 1975. Gross revenue totalled 96.77 million pesos against 94.8 million. Earnings per share came to 3.8 pesos (2.73).
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    • Article
      Lock icon Winnipeg to raise debentures
      94 5 Reuter LONDON, Thurs. The City of Winnipeg (Canada) intends raising US$35 million through an issue of debentures due May 15 1987 in the Eurobond market, city statement said. A coupon of 8 1/4 per cent is anticipated and the issue will be priced on April 25.
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    • Article
      Lock icon Toyota
      32 5 Reuter TORRENCE, Calif, Fri. Toyota Motor Sales USA said it Increased car prices by an average of about US$lOO per vehicle because of the recent rise In the Japanese yen. Reuter.
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    • Article
      Lock icon IBM shares plunge
      674 5  -  RESULTS SURPRISE WALL STREET By ROBERT METZ NYT THE International Business Machines' disappointing first quarter earnings report caught Wall Street by surprise on Wednesday. And the street reacted to the bad news in its customary manner a sharp drop in the price of the shares. Trading in
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    • Article
      Lock icon Philips hopes to improve
      239 5 Reuter EINDHOVEN, Frl Philips gloellampenfabrleken expects a slight improvement In profitability for 1977. on sales volume rising at most by the nine per cent achieved In 1976. Results for 1978 are expected to at least equal 1977, executive board chairman Mr. Hendrlk Van Rlemsdljk said. Sales
      Reuter  -  239 words
    • Article
      Lock icon Cities' subsidiary to operate 2 oil wells
      167 5 Reuter MANILA, Frl. Philippine Cities Service will start two exploratory oil wells in the Nldo Reef Complex In the central Philippine Island Province of Palawan in June, informed sources said. Philippine Cities Service, a wholly owned subsidiary of Cities Service Inc of the
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    • Article
      Lock icon Ford increases payout
      133 5 Reuter DEARBORN. Mich, Frl. Ford Motor said It raised the quarterly dividend to US$l from 80 cents, and proposed a flve-for-four stock split. The quarterly cash dividend Is payable on June 1 to shareholders on Its record on May 2. The stock split, which will be put
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    • Article
      Lock icon Lonrho to make rights issue
      166 5 Reuter LONDON, Frl. Lonrho said it Intends making a one for seven rights Issue to ordinary and 7.5 per cent convertible loan stock holders plus 12.44 shares for every £100 of the convertible stocks at 50p a share. The company said the new shares will
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    • Article
      Babcock and Wilcox buoyant
      119 5 LONDON, Fri. Babcock and Wilcox made a pre-tax profit of £34.43 million In 1976 compared with £17.07 million In 1975. The company said the more than two-fold Increase in profit followed a 70 per cent increase In turnover to £629.93 million (£370.7 million). This raised Its
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    • Article
      Lock icon Profit up at News
      87 5 Reuter ADELAIDE, Fri News Ltd., announced unaudited consolidated operating profit of A 58.54 million ($6.98 million) on revenue of $81.74 million ($74.26 million) for the first half-year ended Dec 31, 1976. The profit Is after tax of $3.55 million ($3.03 million), depreciation of $1.13 mflllon ($1.04
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    • Article
      Lock icon Eastern Airlines
      89 5 Reuter NEW YORK. Frl. A syndicate headed by Merrill Lynch said It has tentatively priced a proposed offering of US$5O million of Slngle-B rated Eastern Airlines covertlble debentures res, due 2002. at par with a 10 per cent coupon, for proposed offering The debentures will be convertible Into
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    • Article
      Lock icon ICI first quarter sales better
      153 5 Reuter LONDON. Frl. Imperial Chemical Industries chairman Mr. Rowland Wright said sales In first quarter 1977 have shown a slight Improvement over the last quarter of 1976. He told the annual meeting there is a reasonable prospect that sales volume overseas and to a lesser
      Reuter  -  153 words
    • Article
      Lock icon Kanebo in the red
      139 5 Reuter TOKYO, Frl. Kanebo said it decided to pass dividend for the year ending April 30 due to poor business performance resulting from the prolonged slump in the textile market. However. It said It will make a three-for-100 bonus issue to shareholders as of the end
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    • Article
      Lock icon CB
      57 5 Reuter LONDON. Frl. Commercial Banking of Sydney said It has decided to extend the closing date of Its offers to shareholders of Commercial and General Acceptance to May 17. The bank now holds acceptances In respect of 1.8 million shares in Caga which will take the bank's total shareholding
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    • Article
      Lock icon German dividend cuts forecast
      582 5 Reuter FRANKFURT, Frl. Many major German companies will cut their 1977 dividends by an average 10 per cent so that they can meet higher tax bills without significantly reducing their reserve allocations, share analysts told Reuter. But lower cash dividends will not spark a wave of
      Reuter  -  582 words
    • Article
      Lock icon IAC expects A$17m loss
      323 5 Reuter MELBOURNE. Fri.— lAC (Holdings) said it expects to make a A$ 17 million operating loss in the first half of 1977 Company chairman Mr. P H. Austin told the annual meeting. lAC expected to significantly reduce its losses in the second halfyear. but added that
      Reuter  -  323 words
    • Article
      Lock icon Firestone unit Eurobond
      120 5 Reuter FRANKFURT, Fri. —Firestone Finance of Luxembourg, a subsidiary of Firestone Tire and Rubber, plans to redeem its 100 million mark 7 3 per cent Eurobond ahead of maturity, primary bond market sources said. The bond, issued at par in 1971 and due in 1986. will be
      Reuter  -  120 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      88 5 Your Gift from Aramis at Iseton (April 15-29) Aramis. Peppery and potent. The scent of success. And more than that, a whole Master Plan for maintaining your body in peak physical condition. Buy 2 Aramis items now and receive this valuable bonus a 4 piece gift set comprising Aramis Bracing
      88 words
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  • Article
    Share Information Service
    2103 6 Gr'a Gr'» 1*77 Last div Div jr'M N* Val Day High Low Company Sale +OT- c'tt P/K High Low SECTION ONE INDUSTRIALS 146 136 Acma 145 1 12.ON 1.1 8 2 7.3 7 145 145 133 127 Acma A 131 12.ON 1.1 9.1 6.6 204 204 Alcom
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  • Article
    Transactions in Singapore
    1150 6 f"P offer prices officially listed and business In and rejwrted 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 deals
    1,150 words
  • Article
    In Kuala Lumpur
    1313 6 BID 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 Aetna (1.438). Laytapa (0.418 0.4791 (1) OK Ajinamata (1.958 2.028). Alcam
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  • Article
    Stock options
    130 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June S3 90) (0.058 0.098). (Sept $3 60) (0.248 0.305). (Dec $3 60) (0.30B).
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  • Article
    Unit trusts
    152 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' price* for Apr 18) <Current prices) The Commerce 1.74 1.84 INCOME BOND 1 04 1.10 The Saving Fund 0 90 0.95 MARA BUMIPUTRA FUND S pore Prog Fund 0.80 0 85 (Managers' prices for Apr 18) S'pore Security Fund 1.47 1.55
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  • Article
    Corporate bonds
    156 6 B O T 8 1/2% 1981 (100.000) (1038 lOS 1^) D B S 8 1/2% 1982 (100.000) (100'/.B lOO^S) DBS Converts 6 1/2% 1991 (100,000) (97'48 98S) E I 89% 1982 (100,000) (103%8 104 3 »S) E I B 8 1/4% 1983 (100,000) (100 SB 100%S) I B
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  • Article
    Domestic govt bonds
    104 6 5 1/2% 15/4/78 (250,000) (101.578 101.675) 5 1/4% 15/7/78 (250,000) (101 488 101.555) 6 1/2% 15/8/78 (250,000) (103.10B) 7% 1/7/79 (250,000) (104.758) 5 1/2% 1/10/77-79 (250,000) (101.508 101.565) 5 1/4% 15/10/79 (250,000) (101.158 101.255) 6 3/4% 15/6/80 (250,000) (103.30B) 6 3/4% 1/12/80 (250,000) (103.10B) 5% T F
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      137 6 Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Fa/k Modern Business Enterprise: M. Gilbert Corporation Man: A.
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  • Article
    SES turns mixed
    571 7 THE Singapore stock market closed mixed yesterday after intermittent bouts of profit-taking pared early gains in moderate trading. At the lower level, sapport continued to issue from many quarters. The opening market saw some buying interest carried over from the previous day with the resultant mark-up in
    571 words
  • Article
    Similar trend rules in KL
    579 7 INITIAL advances by volatile and lower-priced stocks were pared on the Kuala Lumpur Stock Exchange yesterday when buying failed to find sustained support. With values trimmed by the subsequent bouts of profi' taking, prices finlsht ne day on a mixed to marginally easier note. The
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  • WALL STREET AND OTHER OVERSEAS
    • Article
      New York
      1180 7 NEW YORK: The stock market scored a solid advance In heavy trading on Thursday, responding to President Carter's decision to cancel the proposed US$5O tax rebates and an Increase In the planned Investment tax credit to business. Investors had been troubled for weeks by the possible inflationary Impact
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    • Article
      Amsterdam
      306 7 AMSTERDAM: Shares ruled quietly mixed with gains slightly predominating on Thursday, dealers said. Akzo, Philip* and Unilever gained some ground In Dutch Internationals, Hoogovena was a marked loser and Royal Dutch edged lower. Gains elsewhere were led by insurances and most shippings. Losses were headed by OCE, which fell
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    • Article
      Frankfurt
      323 7 FRANKFURT, The market continued generally firmer on Thursday, although profittaking pared some gains, dealers said. In banks Commerzbank gained 1.60 marks and in electrlcals BBC gained 1.90 but other leading names In banks, electrlcals and chemicals were either little changed or slightly weaker. In higher cars Daimler rose two
      323 words
    • Article
      Paris
      349 7 PARIS: The market was easier across the board In dull trading on Thursday. In reaction to last week's gains and reflecting the general atmosphere of political uncertainty In France, dealers said. Electrlcals were noticeably weaker, with Thornton-Brandt losing almost five per cent. Foreign issues were generally steady, with G«rjn
      349 words
    • Article
      Jo'burg
      381 7 JOHANNESBURG: Gold shares continued to ease throughout the day on Thursday, dealers said. Financial minings were mixed in quiet trade with Charter 20 cents higher at 325 and GFSA easing 40 cents to 1 685. De Beers gained one cent to 413 and Anamint shed 30 cents to 4
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    • Article
      Toronto
      320 7 TORONTO: The market closed broadly higher In moderate trading on Thursday with the composite index up 3.7 points and advances leading declines 239 to 162 Masaey-Ferguaon rose one to 22*4, General Motors advanced 3/4 to 73%, A lean Aluminium the most active issue, added 1/2 to 29% on 116,702
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    • Article
      Milan
      179 7 MILAN: Stocks tended lower on Thursday, led by a 12.6 per cent decline In Generate Immobiliare following Wednesday night's announcement of 1970 losses and plans to cut the nominal share value by one third. Bourse sources said. Pirelli SPA shares fell to 999 lire, from 1.018 lire on Wednesday,
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    • Article
      Zurich
      310 7 ZURICH: The market closed slightly higher In moderately active dealings on Thursday, dealers said. In otherwise very steady bank. Leu was again sharply higher. Hailer led financial higher, with Forbo "A" Inierfood "B" and "Orrlikon-Buehrle showing gains. Industrials were featured by the weakness of Saurer bearer which lost some
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    • Article
      Hongkong
      401 7 HONGKONO: The market closed slightly higher In fairly active trading on Friday, dealers said. The Hang Seng Index rose 2.26 points to close at 436.66 points. Utilities were firm, with China Light gaining 30 cents to $21.90. Among leading Issues. Hongkong Land gained 10 to 7.60 but Hongkong Bank
      401 words
    • Article
      Manila
      164 7 MANILA: The market rose In moderately active trading on Friday, dealers said. Total turnover rose to 2.92 million pesos from Thursday's 2 30 million. Gainers Included Atlaa Con A and B, Baguio Gold, Lcpanto B, Marinduque B, Phil Overaeaa, Oriental A and Seafront. Unchanged Issues Included Picop A. Philex
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    • Article
      Sydney
      473 7 SYDNEY: The market firmed on Friday, led by energy stocks, despite uncertainty over the wage/price freeze Impasse, dealers said. The Sydney All-Ordinaries lnrose 1 06 points to close at 435.80 points. Uraniums were particularly firm on expectations of a favourable second report from the Fox Commission on Uranium Mining
      473 words
    • Article
      Brussels
      91 7 APR 14 Frs FORWARD MARKET Acec 372 unch Arbed 2730 -20 Astur 850 -20 Brascan 442 +2 Bru-Lamb 1780 unch Canpac 596 -4 Cock 570 -14 De Beers 118 1 Ebes 2095 +5 Electrobel 5650 -20 Gb-Inno-Bm 1750 unch Gev 1242 -4 Hobok 3030 -50 Petro 4560 10 Ryl
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    • Article
      Tokyo
      531 7 TOKYO: Prices were firmer in fairly active trading, led by domestic Industry shares on Friday, dealers said The Dow Jones average gained 16.60 to close at 5,037.73 with volume 320 million shares The new index closed at 375 26. up 0.98. Shares related to the government spending plans were
      531 words
    • Article
      Bangkok
      94 7 APR IS Bahts Asia Fibre 194 1 Bangkok Bank 335 +6 Bangkok Invest 1M -1 Bangkok-Metro-politan Bank Bata 455 4 Berll Jucker 263 3 Charoong Thai Wire 190 unch Dumex Duslt Than! Faber Merlin First Trust Indo-Thal Industrial Finance Corp 1295 80 J And J Ho 297 +3 Jalaprathan
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    • Article
      Indices
      63 7 FINANCIAL TIMES INDUSTRIALS Thursday 421.0 Wednesday 417.8 Week Ago 419.4 DOW JONES AVERAGE INDUSTRIALS Thursday 947.00 Wednesday 938.18 Week Ago 919.13 LONDON DOLLAR PREMIUM Thursday 123'/« to 123% Wednesday 121% to 121% H.K. HANG SENG Thursday 434.40 Wednesday 435.56 Week Ago 417.27 SYDNEY INDUSTRIALS Thursday ...353.08 Wednesday 353.43 Week
      63 words
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      Page 7 Advertisements Column 1
      365 7 urnw^n ifcjwiii .7 Vjtr Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational jlul quite unlike the
      365 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      351 8 THE Singapore rubber market yesterday opened 0.50 cent easier In line with lower London values, and long liquidation caused a further 1.25 cent fall, they said. However, towards the morning's close, prices recovered slightly on cheap buying Interest. In physicals, there was demand for prompt
      351 words
    • Article
      Closing prices
      30 8 Rubber: April 15 Singapore: May 200.25 cti (down 2.00 eta.) Malaysia: May 202.25 eta (down 1.75 cts) Tin: $1,477.00 (up $27.00) Official offering: 230 tonnes (down 21 tonnes)
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    • Article
      Straits tin
      179 8 THE Straits tin price in Penang yesterday, was up $27.00 to $1,477.00 on an official offering down 21 tonnes to 230 tonnes. In LONDON yesterday morning, values finished i; 65 down for Cash and £70 lower for Three Months in both contracts. Values were maintained in the early
      179 words
    • Article
      Palm oil
      520 8 THE following Palm Oil prices were quoted In London on Thursday. The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Thursday Prev. Malaysia 5H ((a bulk June/July unq 655 sir Sumatra 5% Apl unch 650 pd May 850 pd 662 50
      520 words
    • Article
      SSR and SMR
      107 8 May J l«M R.A.S. (Carrot Mlfc) (Fer* art Mtk) Buyer* Seller* Buyer* Sclleri (centi >p«rk«> (cent per k«> SSR20 (1-ton Pallet) 194.50 195 50N 195 50 196 50N SSR50 (1-ton Pallet) 192 50 193 50N 193.50 194 50N M.R.E.L.B SMR5CV (1-ton Pallet) 221.50 223 50N 223.50 225
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    • Article
      Produce prices
      265 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut OH: Bulk Si 10 sellers, old drum SI 15 sellers, new drum $120 sellers Copra Mixed (loose) UK/Cont. $72 buyers Pepper Muntok ASTA white f.o.b 100% NLW $405 sellers, Sarawak white f ob 98% NLW $385 sellers,
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    • Article
      Zinc
      71 8 LONDON, Fri. Zinc lost £5.50 for cash and £6 for Three Months in the morning, remaining subdued with values drifting lower in sympathy with the general trend although some scaledown continental physical demand was reported by dealers. Three Months fell to £391 in the Ring and to £386 on
      71 words
    • Article
      Gold
      327 8 IN the Singapore gold market yesterday, the kllobar was quoted In the range of 5512,090 to 5512.125. The loco London gold opened at U*****.75/152.25 and drifted down to $151.30/151.60 before closing at $151.60/152.00. The London morning fix was U*****.40 down 65 cents from the previous fix. Source: Singmas The
      327 words
    • Article
      Sugar
      206 8 LONDON, Frl. Sugar futures opened steady, £0.65 to £1.25 below yesterday afternoon levels In sales of 1,147 lots. Dealers said there was Initially some follow through selling from last night's lower Kerb where prices had been influenced by the trend In New York. In actuals, market sources said a
      206 words
    • Article
      Rice
      219 8 BANGKOK, Frl. Indicative prices quoted for rice axe: US dollars per tonne fob basis Bangkok White Rice: 100 per cent 1st class 286 100 per cent 2nd 260 100 per cent 3rd 264 5 per cent 264 10 per cent 233 20 per cent 230 25 per cent 227
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    • Article
      Copper
      294 8 LONDON, Fri. Copper wlrebars fell £14 per tonne for Cash and £15 for Three Months In the morning. Values were unsettled on the pre-market where liquidation touched off some spotloss selling, dealers said. The movement reflected expectations of a modest rise in stocks, lower gold and Noranda's hopes of
      294 words
    • Article
      Silver
      263 8 LONDON, Frl. Silver closed 0.3 pence higher to 0.5 pence lower in the morning. The market ruled steady in modest Ring dealings as some end week liquidation was well absorbed with the bullion dealers fix a supporting Influence, dealers said. But values backed away from higher pre-market levels of
      263 words
    • Article
      Lead
      101 8 LONDON, Frl. Lead eased by £2.50 for Cash and £4.50 for Three Months In the morning. Dealers said the market was steady in the early pre-market where Three Months traded up to C 393 per tonne based on expectations of a further sizeable fall in warehouse stocks this week.
      101 words
    • Article
      Coffee
      377 8 LONDON, FTI. Robusta futures ended the opening call steady, £30 to £14 up from last night. 474 lots were traded. During the call, trade selling In the near months was well absorbed by local dealer and commission house buying July rose £30 at £4,157 while untraded new May gained
      377 words
    • Article
      Wheat
      108 8 CHICAGO, Thurs. Wheat futures fluctuated narrowly to either side of the previous close before closing with fractional losses. Prices recovered from initial softness on the early decline In soybean futures to trade In a two to three cent range in light, mixed dealings. Selling picked up later in the
      108 words
    • Article
      Soybean
      134 8 CHICAGO, Thurs. Soybean futures closed with 30 cents a bushel limit losses in old crop contracts but posted gains of as much as eight cents a bushel in new crop months. Yesterday's sharp decline was extended at the opening but new crop months moved to the plus side on
      134 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      596 8 THE yen weakened for a while yesterday in Tokyo's foreign exchange market and Singapore followed In sympathy. From an opening level of Yen 273.70 against the US dollar In the morning, the US unit rose to 274.40 by mld-mornlng, and by about lunch time went up to 275.40. In
      596 words
    • Article
      Asian $ rates
      163 8 Asian rates ASIAN currency deposit interbank rates u at close on April IS. US Dollar* (Spot) Offor Bid 7 days .4 7/8 4 3/4 imth .4 15/16 413/16 2 mths 51/18 413/16 3 mths 5 3/16 51/16 6 mths 51/2 53/6 8 mths 53/4 55/6 12 mths 6 5 7/8
      163 words
    • Article
      Discount
      7 8 :MvltlwnffiTiV; ■oinTTilaTili Source: National Discount Co.
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    • Article
      Euro $ rates
      115 8 Euro rates LONDON, Frl. Eurodollar deposit rates opened Uttle changed In continuing fairly quiet trading, dealers said. Some early modest interest In periods was noted, coming from West Asia and Singapore, and rates traded steady from openings, with the $5 billion increase in the US Ml money supply reported having
      115 words
    • Article
      Treasury bills tender
      52 8 REBULTB of tender held on April 15 for 91-day Treasury bills to be lssed from April 18 to April 22. Offered: $20 million Applied for: $54 million 4 Allotted: $20 million Accepted bids: $99.20 approximately 83%; higher bias in full. Average rate of discount on allotment: 2.960%
      52 words
    • Article
      London
      246 8 LONDON, Frl. The dollar opened slightly stronger in thin trading, extending its overnight advance spurred by reduced fears of Inflation following President Carter's decision to drop proposals for a $50 tax rebate, dealers said. The US unit rose to 2.5250/70, Swiss francs from 2.5210/20 overnight, to 2.4720/35 guilders from
      246 words
    • Article
      New York
      245 8 NEW YORK, Thurs. The dollar closed stronger here ater an active trading day, reflecting profit-taking and a spate of news assessed as favourable to the currency, dealers said. The dollars' firm opening was extended early in the day by news President Carter abandoned his plan for a $50
      245 words
    • Article
      Hongkong
      134 8 HONGKONG, Frl. The US dollar closed around Its high for the day at HK54.6350/6370 and opened this morning around $4.6360/6380, they added. Some dealers reported an increasing buying interest in the US dollar In late trading, but were uncertain as to the underlying strength of this movement. Meanwhile the
      134 words
    • Article
      Tokyo
      150 8 TOKYO, Frl. The US dollar for overnight dellvery continued to strengthen In active trading, closing at 274.70 yen, up from 273.70 at the opening and 273.10 at yeaterday's close, but slightly below the day's high, dealers said. The advance reflected Increased covering to meet Import settlement needs and the
      150 words
    • Article
      Minimum lending rates (in %)
      59 8 Minimum lending rates (in ACBC 6*« Algemene Bank 6V« Bangkok Bank 7 First Chicago 6\ Citibank 8*« HSBC 7 Bank of America 6 J Bank of China 7 Bank of Tokyo 6*« Bank Negara Indonesia 7 Indosuez 6*« Malayan Banking Mitsui Bank 6V« OCBC OUB 6V« Chartered Bank 6%. Chase
      59 words
    • Article
      Australia/NZ
      47 8 AUSTRALIA/NZ exchanges quoted on April 15 Australia: Sterling 0.6480/0.6409 US dlr 1.1101/1.1053 Ninety-day air mall buying rates: Sterling 0.6686 US dlrs 1.1355 Ninety-day forward buying rates: Sterling 0.6491 US dlrs 1.0988 New Zealand: Sterling 0.5614/0.5582 US dlr 0.9693/0.9593 Ninety-day forward rate: Sterling 0.5679 US dlr 0.9693
      47 words
    • Article
      Zurich
      41 8 ZURICH exchanges closing quotes on April 14 US 2.5202-5212 UK 4.3290-3320 Can 2.4020-4040 W Germ 106.35-43 Neth 102.00-09 France 50.76-79 Belg 6.92V»-93V« Denm 42.14-17 Norw 47.79-83 Swed 58.04-08 Italy 0.2839-2842 Austria 14.97-99 Port 6.52-54 Spain Arg 0.70-85 Japan 0.92-92 v*
      41 words
    • Article
      Frankfurt
      33 8 FRANKFURT exchanges opening quotes on April 15 US 2.3715/25 (2.3688/93) Can 2.2597/2617 UK 4.070/085 Neth 95.90/96.00 Swltz 93.87/97 Italy 2.667/682 France 47.68/83 Norw 44.90/98 Belg com 6.507/522 Belg fin 6.50/53 Japan 0.8630/45
      33 words
    • Article
      Eurobond prices
      296 8 LONDON Eurobond prices on April 15 Straight* Bid Offer Austria 8 V, 00 100% 101% Bel 1 Canada 8 V. M 104 V, 105* BFCE8S83 102 V. 103 Brazil 9% 64 97S 98% Can Pacific 9*83 103". 104 Credit National 8% 88 99, 100* E CSC 9 83
      296 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      157 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times 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 Hawaii)
      157 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon US stand for commercial freedom of the seas under fire
      543 9 NEW YORK, Friday UPI THE United States traditional stout stand for commercial freedom of the seas Is coming under vigorous attack this year. Rebating and other questionable freight charge practices of the shipowners of many countries and the growing domination
      UPI  -  543 words
    • Article
      Lock icon Ad campaign to woo travellers to Ireland
      538 9 NYT NEW YORK, Fri. Airlines and most other advertisers generally concentrate their advertising in areas of greatest potential. They fish where the fish are biting. So it conies as a bit of a surprise to learn that Aer Lingus Irish Airlines, whose best
      NYT  -  538 words
    • Article, Illustration
      Lock icon Concorde fuel increases risk of fire and explosion
      407 9 UPI WASHINGTON, Frl. United States Government analysts concluded more than four years ago that two features found in the Concorde supersonic transport cause a "significant increase in the risk of fire and explosion" compared with subsonic Jetliners, according to a report released
      UPI  -  407 words
    • Article
      Lock icon CALL FOR GLOBAL COOPERATION AMONG AIRLINES AND GOVERNMENTS
      419 9 UPI NEW YORK. Frl. United States criticism of stateowned or supported airlines of foreign countries leads to confrontations harmful to the entire international air transport system, the chief executive of Lufthansa German Airlines said yesterday. "American criticism notwithstanding, we have to operate
      UPI  -  419 words
    • Article
      Lock icon London freight market
      167 9 AP LONDON. Fri. Tlmecharterlng activity slowed on the London freight market yesterday, leaving North and South American grain to maintain market business. Rates displayed very little 'change from previous values, but few representative trades featured among reported fixing. In the Oreat Lakes, a 12,000-tonne April 20-30 loader
      AP  -  167 words
    • Article
      Lock icon New ships order
      100 9 Reuter COPENHAGEN, Frl. Denmark's United Steamship Co (DFDS) plans to invest around 500 million crowns in new ships over the next three to four years, company chairman Joergen Clausen said. He told the annual meeting two new ships worth 140 million crowns have been ordered from Japanese
      Reuter  -  100 words
    • Article
      Lock icon Airesearch and GE to build electric cars
      178 9 Reuter WASHINGTON, Frl. General Electric Company and Airesearch Manufacturing Company have been selected to build experimental electric cars, the Energy Research and Development Administration (ERDA) announced yesterday. The cars will use Improved lead-acid batteries with enough power to drive 120 km width exchange
      Reuter  -  178 words
    • Article
      Lock icon Incentive offer by AM
      120 9 Washington Star WASHINGTON, Frl. Anticipating a carrot-and-stlck boost for small car sales from President Carter's scheduled April 20 energy message. American Motors Is offering a US$4OO (SS96O) sales premium to buyers of alr-condltloned economy models this week. The firm, whose sales have lagged while big Detroit
      Washington Star  -  120 words
    • Article, Illustration
      IN PORT
      346 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Eastern Mars (2300 after Kathei Maru) 19 Eastern Palmas (2000) 23/24 Hong Soon (0700) 21 East Nam Yang Ace (6MPW) (0600) 27/28 NehaJ (1800 after Lake Anja) 6/7 Orchard Gold (1000 after Loon Sheng) 40/41 Palm Sea Horse (Tanker) (1800) 14 Slutsk (1500
      346 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      599 9 ARRIVALS Service Operator Number Local Tine From CAL CPA MAS CPA CAL SIA OIA THAI OIA PAL RBA SIA SIA OIA MAS KLM OIA OIA MAS TMA OIA SIA SIA OIA MAS SIA OIA AI MAS SIA OIA ANZ SIA PAA SIA QAL SIA OIA SIA MAS
      599 words
    • Article
      Lock icon UK car output falls
      60 9 Reuter LONDON, Fri. United Kingdom car output totalled a provisional 99,000 in March, seasonally adJusted, against 101,000 In February and 120,000 In March last year, the Industry Department said. Commercial vehicle output totalled a provisional 35,300, seasonally adjusted, against 34,000 and 32,500. British new car registrations
      Reuter  -  60 words
    • Article
      Lock icon Super-express train lines
      31 9 Reuter TOKYO, Frl. The Japanese Government has authorised preliminary Investigations Into building five new super-express train lines that would cost an estimated 5.5 trillion ven (5543.9 billion). Reuter.
      Reuter  -  31 words
    • Article
      Lock icon Toyota record
      61 9 UPI TOKYO, Fri. Toyota Motor Company, Japan's largest car-maker, said Wednesday its car production last month registered an all-time record of 258,973 units. Toyota officials said the monthly output in March surpassed the previous high of 240,094 units, set in July 1976, and was up 19.2 per cent
      UPI  -  61 words
    • Article
      Lock icon Dock contract
      52 9 Reuter SYDNEY, Fri. The New South Wales government said it awarded Hitachi Zosen of Japan an US$B.56 million (5520.5 million) contract to build a 15,000 tonne floating dock to replace an obsolete dock at the state-owned Newcastle dockyard. Hitachi expects to deliver and install the dock by mldJanuary
      Reuter  -  52 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      332 9 fanfare is the reading you're needing. SOUTH PACIFIC TEXTILE INDUSTRIES BERHAD AND ITS SUBSIDIARIES Uuadtt«d Profit and Lom Accounts for the six Months ended 31st March. 1977 Six Months to Six Months to 31st March 1976 31st March 1977 CHAIRMAN'S COMMENTS; 1. The Company's Trading results for 6 months ending
      332 words
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  • Article
    Lock icon ANTI-INSOLVENCY PLAN DEVELOPS
    1065 10 NEW YORK, Friday FT A PLAN announced last year in the United States to form an Industry-owned national reinsurance company to guarantee propertyliability policyholders protection against the consequencles of the insolvency of their direct insurers is reportedly gaining momentum. The proposal, put forward by prominent company underwriting
    FT  -  1,065 words
  • Article
    Problems faced by insurance firms
    1467 10 Companies are not settling their claims fast enough and the delay is causing a pile-up, writes V. K. Chin in Kuala Lumpur MALAYSIAN insurance companies faced outstanding claims totalling M 5182.0 million at the end of 1975. Of this M 148.2 million were made against
    1,467 words
  • Article, Illustration
    Manila steps up pollution war
    525 10  -  By FELICIANO MAGNO THE AIR that Metro Manllans collectively Inhale dally Is laced with 172 tonnes of carbon monoxide, 445 tonnes of sulfur dioxide and ill tonnes of suspended particulates. Mainly responsible for such air pollution are Industrial plants operating In the area, specially those
    525 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      297 10 2 remarkable accounts of the Japanese Occupation SYONAN MY STORY Mamoru Shinozaki 19 x 13cm; 123 pegee; limp; 556.50 The occupation of Singapore was, for those who survived it, a profound traumatic experience. Many, of course, did not survive it at all; and memories of mass murders and senseless brutalities
      297 words
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  • Article
    Lock icon LOANS ONLY AFTER VIET PROJECT STUDIES: ADB
    410 11 Reuter MANILA, Frl. The Asian Development Bank will be sending more missions to Vietnam to examine individual projects before resuming its flow of loans but a good start has been made in dealing with Its Government, bank President Tarolchi Yoshlda said today. In
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    Lock icon Sugar quotas restored to ACP countries
    245 11 Reuter SUVA, Fri. Fijian Prime Minister Ratu Sir Kamisese Mara said one of the highlights of the meeting of African, Caribbean and Pacific (ACP) countries and EEC representatives in Fiji, which ended yesterday, was restoration of sugar quotas to ACP countries. The 1976/77 quotas
    Reuter  -  245 words
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    Lock icon Oil behind increase in Asian loans
    142 11 Reuter LONDON, Fri. The rapid increase in loans in South, South-east and East Asia was surveyed today in a report by the Times of London. "Lending to Asian countries has increased enormously since the turn of the decade from US$l,lOO million (552.706 million) in
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    ICMA here to form student society
    173 11 THE Singapore centre of the Institute of Cost and Management Accountants will form a student society to cater for its 1,200 students in Singapore, according to its PR Secretary, Mr. Chan Cher Boon. The centre had its first annual general meeting recently and the
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    PSA billing seminar
    107 11 THE Port of Singapore Authority (PSA) is organising a one-day seminar on PSA billing collection system at PSA Conference Hall. PSA Towers on May 4 from 9.30 am to 4 pm. Only 60 participants can attend the seminar where they will be provided with a better understanding
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    Lock icon Sugar output to rise
    121 11 Reuter TAIPEH, Frl. The government-owned Taiwan Sugar Corporation announced yesterday that Taiwan's sugar output this year would reach 950,000 tonnes, 90,000 tonnes more than last year's yield. A spokesman for the corporation said despite the dry weather this year, the 1976-77 crop would still reach the
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    Lock icon Share ceiling removed
    65 11 Reuter TAIPEH. Fri. The Taiwan Government has decided to remove the 80 per cent ceiling a foreign or overseas Chinese investor can invest in any joint technical cooperation venture. Informed sources said. The sources said the Government hoped removal of the celling would attract new technology-intensive industries.
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    Lock icon $8bil JAPAN SURPLUS
    392 11 IN CUSTOMS CLEARANCE TRADE Reuter TOKYO, Fri. Japan had a preliminary customs clearance trade surplus of US$3.3l billion (SsB billion) in fiscal 1976 ended March 31 this year, compared with a deficit of $1.24 billion in fiscal 1975, the Finance Ministry said. The Ministry said this was
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  • Article
    Lock icon Accounting rule may hike export prices
    530 11 UPI Reuter NEW YORK, Frl. A Japanese government directive on company accounting may sharply Increase the selling prices of Japanese exports. Business Week magazine said yesterday. Since April 1, some 600 top Japanese companies have had to start complying with a Finance Ministry directive
    UPI; Reuter  -  530 words
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    Lock icon Marcos gives support to coconut complex
    296 11 Reuter MANILA, Frl. President Marcos pledged Government support of a coconutchemical complex to be established this year in the southern Philippine province of Mlsamls Oriental, the Press Office said. Mr. Marcos expressed his Government's support after a group of Filipino and Japanese partners briefed
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    Lock icon Move to tighten boycott
    328 11 Reuter KUWAIT, Fri. Heads of eight Arab development aid agencies yesterday discussed ways of streamlining operations to tighten the Arab boycott of Israel, officials said here. During two sessions of talks, they also discussed the possible establishment of an Arab institute to study projects seeking the
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    Lock icon Second Spring strike disrupts trains, services
    269 11 UPI TOKYO, Fri. More than four million Japanese unionist worker* staged thi* year'* second unified strike today, disrupting most of nation's long-distance trains and many other public services. The unionists are members of the national Spring labour offensive joint straggle council and conducted the
    UPI  -  269 words
  • Article
    Lock icon $1.4 bil IN FIRST QUARTER
    127 11 Reuter MANILA, Frl. Philippine exports rose to U*****.7 million (*****.2 million) In March from $189.7 million in February, bringing the first quarter 1977 total to $579.5 million (Ssl.4 billion) compared with $403.7 million In the same 1976 period, customs-cleared statistics showed. The improvement In March
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  • Article
    The Canon copier
    82 11 THE Canon NP-50, claimed to be the world's cheapest plain paper copier, will be introduced In Singapore on April 23 at. a presentation organised by Outhrle Trading (8) at Goodwood Park Hotel. It Is believed to be the first desk-top plain paper copier to be offered at
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  • Article
    Lock icon Is Peking crying wolf over the drought?
    680 11 AP TOKYO, Frl. China has called for massive mobilisation of troops, farmers, workers, students and others to combat a searing drought it says Is threatening the nation's agricultural production. The official Hslnhua news agency says the drought is the worst since the People's
    AP  -  680 words
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    Lock icon Aegean Sea oil find
    59 11 UPI ANKARA, Fit. Turkey said yesterday there are oil reserves in the Aegean Sea and it is sending its research ship Slsmlk 1 into Aegean waters on May 1 for further tests. Sismlk's explorations last year led to a breakdown in Greek-Turkish talks on how to
    UPI  -  59 words
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    Lock icon Unions say wage curbs are out
    401 11 Reuter LONDON, Frl. Prospects of a third year of British pay restraint were set back yesterday when powerful miners' leader Joe Qormley ruled it out for his 240,000 men. At the same time, the nation's 112,000 normally moderate bank employees warned that they expected
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      917 11 APPOINTMENTS r INDUSTRIAL CHEMICALS Our office in the Central Business District has a position open for a Singaporean in his early thirties, with good experience in trading in a wide range of industrial chemicals, in volume, but someone also versatile enough to handle allied lines. Applicants should forward, in their
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    A third country bids for Asean trade centre
    284 12 ANOTHER European Economic Community country, besides Belgium and Holland, has shown interest in wanting the propos d Asean trade centre located in that country, according to Informed sources. However, the name of the third country has been withheld pending firming up of
    284 words
  • Article
    'Dialogues vital to reach goals'
    346 12 THE only way EEC and Asean countries will achieve anything is for a continuing dialogue between political and business leaders" on specific issues with the object of achieving specific goals." A Singapore-based British businessman, Mr. Leonard Rayner, also said: "If the developed world is serious
    346 words
  • Article
    Hon for ADB meet in Philippines
    119 12 FINANCE Minister, Mr. Hon Sui Sen, will lead a five-man Government delegation to Manila to attend the 10th annual meeting of the Asian Development Bank which opens next Thursday. Other members of the team are Messrs. Michael Wong Pak Shong, managing director of the
    119 words
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    LONDON STOCKS
    786 12 LONDON. Frl. The stock market closed easier after a quiet session and at 3.00pm the Financial Times Index was down 4.2 at 416.8. The mlneworkers' opposition to further wage restraint continued to have an adverse effect on sentiment. The quarter point cut In the Bank of England Minimum
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    Lock icon Are days of US monopoly firms numbered?
    227 12 AP WASHINGTON, Fri. US Attorney General Griffin Bell said yesterday he is considering bringing lawsuits to break up American industries in which a few companies monopolise the market in scarce commodities of products. Mr. Bell stressed he had no particular Industry in mind
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    Lock icon Heathrow engineers vote to continue strike
    151 12 Reuter LONDON, Fri. Engineers at London's Heathrow Airport voted overwhelmingly today to ignore a plea from their own union and continue a crippling strike against Britain's stateowned airline. The two-week dispute has so far cost British Airways L' 32 million (SSI3S million) in lost
    Reuter  -  151 words
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    Govt will help woo foreign investments
    446 12 UNDER present world economic uncertainties, Singapore will not only find difficulty In attracting foreign investments but Its export markets will also become increasingly more competitive, the Minister for Labour, Mr. Ong Pang Boon, said last night. Speaking at the National Productivity Board's ninth annual
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    Lock icon ITALY LOAN AND IMF FUND ON AGENDA
    470 12 Reuter PARIS, Frl. Plans to Increase the resources of the International Monetary Fund and to provide Italy with a US$53O million (SSI.3 billion) IMF loan will be the main subjects discussed at economic conferences here In the next few days, International economic sources
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  • Article
    Jardines profits drop to $8.4 mil
    307 12 JARDINE Matheson (South East Asia) yesterday announced an 18.7 per cent fall in consolidated net after-tax earnings to $8.4 million last year. Consequently, earnings per share fell to 25 cents from 33 cents previously. However, the Hongkongbased company Is maintaining the dividend at five
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  • Article
    Lock icon SHELL ON 2-TIER PRICE
    238 12 Reuter THE HAGUE, Fri. The two-tier pricing system currently in use by Opec countries is an unsettling factor on the oil market and will hopefully be replaced soon by a unified price, Royal Dutch Shell president Gerrlt Wagner said at a press conference. The market price
    Reuter  -  238 words
  • Article
    Marcos due in Tokyo on April 25
    245 12 TOKYO, Fri. President Marcos of the Philippines is expected here on April 25 for a four-day state visit and talks with Prime Minister Takeo Fukuda. President Marcos Is the first foreign leader to make a state visit to Japan twice. He made a
    245 words
  • Article
    Lock icon Troops on alert confirmed
    117 12 Reuter ZAMBOANGA CITY, Frl. Southern Commander Rear Admiral Romulo Espaldon today confirmed that army units were on full alert In the southern Philippines in face of rumours of possible violence for Sunday's autonomy referendum. He also confirmed that military intelligence had uncovered a plot to assassinate
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  • Article
    WOUND UP: BEN SHIPPING
    97 12 BEN Shipping Co. Pte. Ltd along with Nalgal (Singapore) Pte, was wound up yesterday on grounds of Insolvency. The orders, given by the Chief Justice, Mr. Wee Chong Jin, arose from an unpaid Judgment debt of $22,203 for Ben, and a debt of about $1.8 million
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  • Article
    Sawmills to get help in buying logs
    217 12 THE Singapore Saw millers' Association has formed a seven-man team to help small local sawmills buy logs from Indonesia, according to Mr. Fong Pin Chee, the newly re-elected president of the association. Mr. Fong said that ttie team will recommend small sawmills to
    217 words
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    Lock icon Bank points way to lick inflation
    386 12 Reuter HONQKONO, Frt. Hongkong and Shanghai Banking Corp chairman Ouy Sayer said the world's economy needs incentives to produce and consume If it Is to expand and overcome Inflation and underemployment. He told the bank's annual general meeting the world economy Is currently undergoing
    Reuter  -  386 words
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    Lock icon Concorde: Air your views
    347 12 Reuter NEW YORK, Frl. The operator of New York's Kennedy Airport Is to ask people living In the area whether Concorde should land there an action seen as further delaying a final decision on flights by the Anglo-French supersonic airliner. The Port Authority of New York
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  • Article
    Malaysia sending timber mission to US
    238 12 KUALA LUMPUR, Frl. The Deputy Primary Industries Minister, Mr. Paul Leong, will lead a 12member mission to explore the possibility of selling more timber and Its Sroducts to the United tates. During the trip, from April 23 to May 15, the members will try
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    Bakar at helm of MRELB
    131 12 KUALA LUMPUR, Fri. Hajl Abu Bakar Bin Pawanchee has been appointed to act as the chairman of the Malaysian Rubber Exchange and Licensing Board until his retirement at the end of this year. He takes over the post from Mr. Lew Sip Hon, the former
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    Spotlight on small businesses
    369 12 THE National Productivity Board (NPB) will focus Its attention on small and medium-sized businesses this year, Its chairman, Mr. O.C. Thlo, said last night. "NPB" promotional efforts will be directed to the management and workers of Industries and commercial enterprises, especially those engaged In mediumsized operations,"
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      3 12 (See Pace 3)
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      217 12 SEE PAGE 9 BELGIAN TEXTILE EXHIBITION 77 Date: 27th April 1977. I 10.00 am 6.00 pm Vtnui: Hyatt Hotel Singapore "Twenty leading Belgian Textile Manufacturers specialising in Household linen, carpets and upholstery will present to Singapore textile specialists their latest range of products." Textile wholesalers, importers and dealers are cordially
      217 words