The Business Times, 14 May 1977

Microfilm: NL9307
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 SATURDAY, MAY 14, 1977 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Just shaken
      25 1 UPI TOKYO, Frl. A weak earthquake shook the Tokyo area today, but police said there were no reports of casualties or damage. UPI
      UPI  -  25 words
    • Article
      Lock icon 254 election arrests
      30 1 Reuter JAKARTA, Frl. A total of 254 people have been arrested for alleged violations of Oeneral Election Rules, the Armed Forces newspaper Angkatan Bersenjata reported today. Reuter
      Reuter  -  30 words
    • Article
      Lock icon $10b boost for economy
      43 1 UPI WASHINGTON, Frl. President Carter today signed a US$4 billion (Ss9.B billion) public works measure designed to boost the economy and create 600,000 new Jobs. He also put his signature on a bill authorising $20 billion revenue sharing funds.
      UPI  -  43 words
    • Article
      New US envoy to KL
      50 1 KUALA LUMPUR, Frl. A career foreign service officer. Mr. Robert Miller. 49. has been aDDOlnted the new US ambassador to Malaysia, a Wlsma Putra statement said today. He succeeds Mr. Francis Underhlll Jr., who returned home recently after a three •'year tour of duty here.
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    • Article
      Lock icon A 'pocket' TV
      57 1 Reuter TOKYO, Frl. The Japanese company Hitachi said today It had developed a television set less than five centimetres thick by using liquid crystal instead of a conventional tube. But a spokesman said further research was needed before the black and white set with a 10.9 cm
      Reuter  -  57 words
    • Article
      Lock icon Bhutto referendum
      32 1 UPI. ISLAMABAD, Frl. Pakistan's Prime Minister Zulflkar All Bhutto today announced In Parliament that a referendum Is to be held to determine whether or not he should remain In office.
      UPI.  -  32 words
    • Article
      Lock icon India ratifies
      56 1 UPI BANGKOK, Frl. India today became the second nation to sign the United Nations-sponsored Asian Re-insurance Corporation. The corporation, signed first by Iran, Is to prevent the flow of an estimated US$2OO million (***** million) per year out of the Asian region. The re-Insurance programme was previously underwritten
      UPI  -  56 words
    • Article
      Lock icon Three times smaller
      47 1 UPI PARIS, Frl. The French foreign trade deficit was three times smaller in April than In March, dropping to US$77 million (Ssl92 million) from $240 million In March, the Foreign Trade Ministry announced today. The April deficit was the smallest since September 1975. UPI
      UPI  -  47 words
    • Article
      Lock icon French investment
      36 1 Reuter PARIS, Frl. The French government has agreed to encourage Investment by French firms In Malaysia, the Malaysian Foreign Minister Tengku Ahmad Rlthauddeen aald today at the end of a three-day official visit. Reuter
      Reuter  -  36 words
    • Article
      Lock icon Dow Jones
      82 1 UPI NEW YORK, Frl. The stock market took In Its stride a boost in the prime rate by a major bank and prices moved slightly higher today in fairly active trading of New York Stock Exchange Issues. The Dow Jones industrial average, a loser In the previous two
      UPI  -  82 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      173 1 GENERALLY, trading conditions remained sluggish at the Stock Exchange of Singapore yesterday. Most shares closed mixed after some renewed buying interest towards the final bell erased part of the earlier losses. The Business Tmes index inched 0.16 point higher to 262.79 while the Straits Times Industrial index
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    • Article
      In Kuala Lumpur
      107 1 Rises Most active Pacific Dev. 1 46 +.17 Pacific Dev. 550.000 C. Sugars F. Cables 2.15 +.05 0.931/2+04 General Lumber 353.000 Central Sugars 270,000 Bo vis SEA Perils O. Lumber P. Carbide CEN. Sec. Bolton 0.05 +.031/2 1.29 +.03 0.881/2+.02 1/2 0.84 +.02 0.88 +.02 1.03 +.02
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  • Article
    Peking banks fight shy of publicity
    1027 1  -  OPERATING AT A LOW LEVEL By QUEK PECK LIM UNLIKE their Russian cousins, whose Moscow Narodny Bank has tended to grab headlines with Its spectacular loan activities, the Chinese communist bankers here have tended to keep their banking operations at a relatively discreet and
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  • Article
    Why POSB funds are welcome
    131 1 THE Post Office Savings Bank yesterday appeared again as a direct lender of overnight money in the inter-bank money market, and successfully placed an estimated $40 million. This is lower than the estimated $60 million lent out by the savings institution on Thursday. Dealers in
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  • Article
    Lock icon Engineers battle to stop Saudi oilfield blaze
    506 1 Reuter UPI RIYADH, Fri. Oilfield firemen and engineers battled today to extinguish pools of blazing oil ana stop a two-day-old pipeline fire in Saudi Arabia's eastern desert. The Arabian-American Oil company (Aramco) said the fire, touched off by a pipeline explosion on Wednesday
    Reuter; UPI  -  506 words
  • Article
    Lock icon Australian air controllers call off strike
    403 1 Reuter SYDNEY, Fri. Australian air traffic controllers ended a crippling six-day strike today, allowing domestic and international airline services to resume. The controllers voted overwhelmingly to return to work at midnight (1400 OMT) in the face of a threat by Prime Minister Malcolm Fraser
    Reuter  -  403 words
  • Article
    Lock icon US to go it alone on food reserve
    203 1 Reuter ROME, Frl. The United States Is planning to set up Its own food reserve as part of a world food security system with 8.1 million tonnes of grain. Informed sources said today. Agriculture Secretary Fred Bergland Is expected to make a
    Reuter  -  203 words
  • Article
    Best news for Britain in five years
    137 1 LONDON, Fri. Britain today reported its best trading figures for fin years, with a surplus last month of £111 million (***** million). The April figure* showed i deficit on exports and imports of £109 million, but this was balanced out by income from
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  • Article
    Lock icon Japanese eases foreign currency controls
    133 1 UPI TOKYO, Fri. The Government today announced relaxation of various controls on foreign currency, including abolition of the US$3,OOO (957,392) ceiling on money that can be taken overseas by Japanese travellers. The Finance Ministry and the Ministry of International Trade and Industry (MITI) said the
    UPI  -  133 words
  • Article
    Singapore to be the hub of NMB group
    429 1 AS PART of Its expansion programme, Nippon Miniature Bearings of Japan Is planning to transfer the bulk of the group's manufacturing facilities to Its Singapore subsidiary, NMB Singapore. To achieve this, the group will spend a further $26 million to expand NMB
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  • Article
    Lock icon BoA hopes to open Peking branch
    125 1 Reuter CHICAGO, Fri. The Bank of America/-the world's largest commercial bonk, is considering opening a branch In China if the Peking Government will allow it, the bank said yesterday. Mr. Leland Prussia, executive vice president and treasurer of Bank of America, told reporters: "We
    Reuter  -  125 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      75 1 /<r 11mr /<c-! S- li\ U d (/> ni f t'it-' ut Ihunv njs A i t Jt ii.' > nt Cr ij!\>nun\h\[i I'Lsir o CeytotiJewellers IB Stamford IU T«|- XIMnuiVM? SEE PAGE 11 SEE PAGE 11 Market Review. P* er *V®* cks E I Over«eat NewW Badk> OmunodMo* P
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    • Advertisement
      Page 1 Advertisements Column 2
      140 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 parameters of design, engineering, comfort and performance to emerge as the Dream Car of the present day. A 2 6 litre OHC engine powers the
      140 words
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      Page 1 Advertisements Column 3
      224 1 THE PERFECT lIVESTMENT Take a look Industrial premises for sale Small Factory Covered area 1,439 sq. m. 30 years JTC lease In Jurong from December 1973. Fitted with 10 ton "Demag" overhead crane. Site area 5,854.7 sq. m. Price $550,000 with vacant possession*. Available immediately. Large Factory Industrial space 11,026
      224 words
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  • MARKET REVIEWS
    • Article
      KUALA LUMPUR
      561 2 MOST lower-priced shares closed higher again at the Kuala Lumpur Stock Exchange this week despite some heavy profit-taking on Wednesday and Thursday. The volume of business also increased substantially as total turnover rose to 12.89 million units from 9.4$ million units last week. Total values were $17.18 million
      561 words
    • Article
      SINGAPORE
      548 2 IT was Just touch and go at the Stock Exchange of Singapore this week as operators played cat and mouse with the third and second liners. Generally, the market was still going through a period of consolidation for want of inducement from overseas markets which of late had been
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    • Article
      SUDDEN FLOOD OF ORDERS
      556 2  -  LONDON By IVAN FALLON LONDON has been dominated by two major events this week: The Downing Street Summit, and a stock market suddenly flooded with buying orders. "Nobody wants to sell" was frequently heard on the floor of the Btock Exchange as Jobbers bid higher for
      556 words
    • Article
      P & O — plain sailing ahead
      237 2 P O plain sailing ahead MARKET men had other things to turn to a host of company results and news, some of it good, some of It bad, some of It controversial. Speculation remained Intense about a possible "rights" Issue from P and O even after the company had produced
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    • Article
      Homecoming ends in a draw
      186 2 THE unit trust Industry's challenge to London Tin Corporation ended up In a rather messy "two-all" draw. Two of London Tin's associates, Kamuntlng Tin Dredging and Malayan Tin Dredging, won shareholders' consent to change their domicile to Malaysia but the Investment protection committee of the
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    • Article
      Company news for the week ended May 13
      455 2  -  Compiled by RONALD LAM SCRIP RIGHTS ISSUES Ovoraea* Union Bank: Scrip issue of one-for-flve, capitalising Ssll million and a rights issue of 11 million new SSI share on the basis of one-for-flve at SS2 per share. OTHER ANNOUNCEMENTS Worldwide Holdinga is to
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    • Article
      Sabah oil hunt picks up
      439 2 LABUAN, Frl. Offshore oil exploration In Sabah which for more than a year Erlor to the agreement stween Petronas and the oil companies last November moved at a slow pace Is now moving ahead with speed. Sabah Shell will soon have four oil rigs to
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      284 2 a money-saving I w V <&■* i *>, >><- ,1 «Z$ bonus offer for all their advertisers Effective from now to September 80, 1877 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
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  • OVERSEAS
    • Article
      Lock icon Bank of England to carry on special deposit scheme
      380 3 Reuter LONDON, Frl. The Bank of England said it decided to continue the operation of the supplementary special deposit scheme on the British banking system for a further six months. The specified rate of growth for each bank will continue to
      Reuter  -  380 words
    • Article, Illustration
      Lock icon $3 billion rise in American budget deficit
      499 3 WASHINGTON, Friday Reuter BUDGET director Bert Lance estimated the federal budget deficit will be US$l.4 billion (Ss3 billion) larger next year as a result of President carter's energy programme. But he said the budget effects of the programme should balance out by 1980
      Reuter  -  499 words
    • Article
      Lock icon Coffee price down 60 cts
      165 3 UPI CINCINNATI, Fri. Coffee price* may be headed down after a long upward spiral. Folger Coffee Company, the second largest router of coffee in the United States, yesterday announced a US2S cents (S6O cents) a 0.45 kilograms reduction in the wholesale price of vacuum-pecked coffee.
      UPI  -  165 words
    • Article
      Lock icon HK warning
      30 3 Reuter HONGKONG, Fri. Hongkong faces water rationing next month unless the British colony has at least 15 cm of rain by then, a government official warned yesterday. Reuter.
      Reuter  -  30 words
    • Article
      Inflation is still the prime concern of Canadians
      438 3 HALIFAX, Friday BANK of Canada governor Gerald Bouey said the economy Is beginning to recover but Canada cannot afford to relax Its fight against inflation. "The gravest longer term threat to employment and to the economic well-being of Canadians Is the risk
      438 words
    • Article
      Lock icon 6 per cent price hike in steel products
      159 3 Reuter BETHLEHEM, Frl. Bethlehem Steel Corporation, the second largest U8 steel producer, yesterday announced price Increases averaging six per cent on a wide variety of products. It said the price rises on sheet, plate, bars, rod and wire steel would take effect
      Reuter  -  159 words
    • Article
      Lock icon Corporate bribery now a criminal offence
      222 3 AP WASHINGTON, Frl. A United States House of Representatives subcommittee approved legislation yesterday making corporate bribery of foreign officials for 'business purposes a criminal offence. A similar Bill was passed by the Senate on May 5. The measure grows out of disclosures last year
      AP  -  222 words
    • Article
      Lock icon A NEW SPRAY SYSTEM
      113 3 AP NEW YORK, Frl. >- Robert Abplanalp, the Inventor of the valve upon which modern aerosol spray dispensers are baaed, unveiled yesterday a new spray system that he said makes fluorocarbon propellants obsolete. His announcement at news conference came a day after the United States Government
      AP  -  113 words
    • Article
      Lock icon Carter hopes for no revenue change
      211 3 Reuter WASHINGTON, Fri. President Carter said he hopes there will be no overall change in tax revenues under the tax reform proposals now being prepared by Administration tax exnerts. Mr. Carter told a press conference he is for increased fairness in the tax structure,
      Reuter  -  211 words
    • Article, Illustration
      Lock icon US energy plan will help many countries
      611 3 WASHINGTON, Fri Reuter Washington Post UNITED States Treasury Secretary Michael Blumenthal said the Administration's energy programme is an essential element In Its International economic policy. The energy plan will help many countries, and the perception of what It can offer explains the enthusiastic
      Reuter; Washington Post  -  611 words
    • Article
      Lock icon Government spending totals $1,718 bil
      276 3 AP NEW YORK. Frl. The United States' federal, state and local governments will spend almost US$lO,OOO (5524.000) per household this year, more than three times what they spent In 1960, a new report says. The Tax Foundation Incorporated, a nonprofit research group, said yesterday that
      AP  -  276 words
    • Article
      Lock icon 'Economy on a sound growth path but...'
      239 3 Reuter HOT SPRINGS, (Virginia), Fri. President Carter's energy programme Is causing uncertainty about an otherwise bright American economic outlook, leading Industrial economists said today. The economists told a meeting of the business Council the equivalent of a domestic US Industrial summit conference that
      Reuter  -  239 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      328 3 Dataprep/ Data General Are you having problems getting on your big computer? SfIPS 1 i 58® A ~k; PPUB There's only so much room on even the biggest computers. And once your company's computer has a full load, there's no way you're going to get your applications on it until
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      272 3 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on May 13 at Singapore airport. Maximum Temperature 33.0 Associated Humidity 61 Minimum Temperature 24.8 Associated Humidity 98 Hours of Sunshine 4.46 Rainfall in Millimetres trace Total Rainfall for the Month 72.7 Total Rainy Days for the Month 5
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  • COMPANY NEWS
    • Article
      Malayan United now a holding company
      309 4 HAVING embarked on a wider programme of diversification, Malayan United Industries has become a purely holding company. According to chairman, Mr. Cheah Phee Cheok, the transition Is clearly reflected In the steep fall In the earnings of the parent company during the year ended
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    • Article
      DIVIDENDS ANNOUNCED
      638 4 Current Ex Date Total far Total far Date payable the year previous year D.B.S. 8* Apr 22 May 14 8* 7* Dunlop Estates 11* Apr 13 May 17 18.5* 12* King's Hotel 5* May 3 May 17 5* 5% Malayan Cable* 10* Apr 15 May 18 10* 8*a
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    • Article
      Lower debt position gives UOL a boost
      1082 4 FROM being a purely private residential property developer, United Overseas Land appears to be expanding gradually Into commercial property development. The change Is outlined In the group's 1976 annual report. Presenting the group's rationale, chairman Mr. Wee Cho Yaw notes that in recent
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    • Article
      Higher sales help to offset rise in costs at Bata
      661 4 INTENSIVE marketing efforts paid off for leading footwear manufacturers, Bata Malaysia last year as It managed to partially offset increased costs through the benefits of higher volume sales. According to chairman Mr. N.E. Moubayed In his latest report to shareholders,
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    • Article
      CHICAGO BOARD OPTIONS
      1356 4 On May 12 TRADING on the Chicago Board Options Exchange expanded to 104,902 contracts on Thursday compared with 07,327 contracts on Wednesday. OPTION ,LY OCT JAN STOCK Alcoa SO IV* 01/3 UNTRD 58 3/8 Alcoa 00 111/10 36* 31/2 58 3* Am Tel 56 UNTRD NOL NOL
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    • COMPANY MEETINGS
    • Article
      Lock icon Heavy dealing in Sony on NYSE
      791 4  -  By ROBERT METZ NYT THE Sony Corp. was the most actively traded issue on the New York Stock Exchange on Thursday on a massive 574,100-unlt turnover, Including a 405,500unlt block crossed at 8 7/8 a minute before the closing gong. It closed down 3/8
      NYT  -  791 words
    • Article
      Better tin prices raise Gopeng's earnings
      382 4 GOPENG Consolidated, one of the stalwarts among the few remaining British tin and rubber companies in Malaysia, has reported a rise of 59 per cent In group pre-tax profit to £1.49 million for the six months ended March 31. 1977. This was achieved largely
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    • Article
      PEOPLE IN BUSINESS
      170 4 THE assistant marketing manager of InteroceanEAC Agencies Pte Ltd. Mr. Joseph Boon, has completed a three week visit to ScanDutch customers and associated agencies In Europe. Mr. Boon was accomf) an led by his counterparts n Korea, Hongkong, Japan and Thailand under the 1977 Scan Dutch marketing
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      193 4 Give us a man fbra monthwell give him a language for life now the 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 in a.language they
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  • Article
    Lock icon Marginal growth at Basf
    798 5 EUROPEAN COMPANIES Reuter LUDWIGBHAFEN, Frl. Basf reported both sales and earnings recorded marginal Increases at the group and parent company levels In the first quarter of this year. Group pre-tax profit and before minority Interests rose to 374 mlllionmarks on net turnover of 5.54 billion marks
    Reuter  -  798 words
  • Article
    Lock icon Static profit margins for German firms
    389 5 Reuter FRANKFURT, Frl. West German companies can probably expect unchanged profit margins this year then against 1976 following the high pay rises agreed in the current wage round. Bundesbank directorate member Mr. Helmut Schels Schlesinger said. Margins improved slightly last year after relatively slow
    Reuter  -  389 words
  • Article
    Lock icon Royal Dutch Shell to increase spending
    393 5 Reuter LONDON, Frl. The Royal Dutch Shell group plans to increase spending on plant and equipment to £2.5 billion In the current vear from 1.8 billion in 1976, Shell Transport and Trading directors said. They told a press conference the major part will go
    Reuter  -  393 words
  • Article
    Lock icon Swire Pacific expects reasonable rise
    289 5 ASIAN COMPANIES Reuter HONGKONG, Fri. Swire Pacific chairman Mr., John Bremrldge said he expects 1977 to be a year of reasonable growth, following the rise In group profit attributable to shareholders to HK5125.5 million last year from $73.3 million in 1975. He said in his
    Reuter  -  289 words
  • Article
    Nippon Mining
    85 5 LONDON, Fri. —Nippon Mining plans to issue US$l5 million guaranteed notes due 1982, Credit Suisse White Weld said. The notes to be unconditionally guaranteed by the Industrial Bank of Japan, are expected to have a per cent coupon and under current market conditions would be priced at a
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  • Article
    Elf—Aquitaine group
    87 5 Elf —Aquitaine group PARIS, Frl. The Ste Natlonale Elf-Aqultalne group hopes to resume seismic exploration In the Mer D'lrolse off Brittany this year, company sources said. The starting date of the exploration depends on when the Judgement Is given by an international Arbitration Court sitting In Geneva, expected about mid-June.
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  • Article
    New tax policy call
    75 5 ROME, Frl. A new dividend tax policy Is needed to revive private Investor Interest In the Italian Stock Exchange. Treasury Minister Mr Oaetano Stammatl told a parliamentary commission. He said fiscal and financial reforms on their own can only produce a temDorary recovery in risk capital
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  • Article
    Norsk – Industribank
    27 5 Norsk Industribank DUESSELDORF, Frl. The Norske Industrlbank 50 million mark 6* per cent maximum 12 year Eurobond was priced at par, lead manager Westdeutsche Landesbank Olrozentrale' said.
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  • Article
    Tenneco
    26 5 LONDON, Frl. The Tenneco International US$lOO million 7 3/4 per cent 10 year Eurobond has been priced at 98 1/2 per cent, Morgan Stanley said.
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  • Article
    Lock icon Jardine Matheson plans bond issue
    122 5 Reuter LONDON, Fri. Jardlne, Matheson and Co said It plans to raise around US$43 million (SSIOS million) via an International issue of eight-year bonds. The bonds will be issued In bearer form by Jardlne, Matheson (Bermuda) and subscribed In US dollars. But payments of Interest
    Reuter  -  122 words
  • Article
    Lock icon Weeks' overseas report
    122 5 Reuter MELBOURNE. Fri. Weeks Petroleum said the Ras Al Khalmanh A 1 well, in which the company has a 13 per cent Interest, Is currently being tested. Weeks also said its Saba Bank no. 1 well, off the Netherlands Antilles, In which it has a 13.89 per
    Reuter  -  122 words
  • Article
    Lock icon Ailing Kanematsu-Gosho remains hopeful
    618 5 FT TOKYO. Fri. Japan's number eight general trading company Kane-matsu-Gosho started talks six months ago with the Bank of Tokyo on ways to tide over Its current financial difficulties, even though the news of what was described as a rescue plan for the company was splashed
    FT  -  618 words
  • Article
    Lock icon Atlas Mining
    80 5 Reuter STAMFORD, Conn., Frl. Atlas Consolidated Mining and Development said shareholders approved an Increase in its authorised capital stock from 70 million shares to 150 million shares. The company, which Is headquartered in Manila but made the announcement through its office here, also declared a regular quarterly dividend
    Reuter  -  80 words
  • Article
    Esso Exploration
    75 5 MELBOURNE. Frl. Esso Exploration and Production Australia said group net aftertax profit rose to A 182.07 million on sales of 8389.89 million in 1976 frbm $72.89 million on sales of $269.3 million in 1975. The company paid a dividend of $81.8 million ($71.74 million) to its parent company,
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  • Article
    Sumitomo
    28 5 ZURICH, PH.Sumitomo Metal Industries 80 million franc SV» per cent 15 year loan floated on the Swiss market at 96.5 per cent was oversubscribed, Scher Bankvereln said.
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  • Article
    Lock icon Nestle hopes to show slight upturn
    280 5 Reuter LUBANNE, Frl. Nestle Alimentana expects to show a slight increase In both sales and profit this year, chairman Mr. Pierre Llotard-Volgt told the annual meeting. The sales trend in the first few months of this year appears to confirm this expectation, he said.
    Reuter  -  280 words
  • Article
    Lock icon Andelsbanken notes
    89 5 Reuter LONDON, Frl. Andelsbanken plans to raise US$3O million through floating rate capital notes due 1984 S.O. Warburg said. Interest will be at the higher of the minimum rate, under current market conditions expected to be 8% per cent, or 1/4 per cent above London interbank offered rate
    Reuter  -  89 words
  • Article
    Lock icon Ennia to offer US$25m convertible debentures
    137 5 Reuter AMSTERDAM, Frl. Ennia will offer US$25 million nominal of convertible subordinated debentures at par due 1992 with the coupon and conversion price to be determined in the light of market condition on May 23 when subscriptions close, Amsterdam Rotterdam Bank said. Current market
    Reuter  -  137 words
  • Article
    Lock icon Generate Occidentale
    58 5 Reuter PARIS, Frl. Generale Occidentale said It will ask shareholders to authorise the Issue of up to 250 million francs nominal of convertible bonds. A company spokesman said there are no plans to use the authority at an early date. Shareholders will be asked to vote the proposal
    Reuter  -  58 words
  • Article
    Lock icon First Pennsylvania credit default
    191 5 NORTH AMERICAN COMPANIES Reuter BOSTON, Frl. First Pennsylvania Mortgage Trust said It elected to pay Interest due on May 10 to creditors banks on Its UBsllB million In notes at a reduced rate of three per cent annually rather than at the contract rate of prime.
    Reuter  -  191 words
  • Article
    Lock icon Warner obtains LSE listing
    167 5 Reuter LONDON, Frl. Warner Communications said the London Stock Exchange has granted a listing of the company's common shares. It Is not proposed to issue any new shares in connection with the listing which has been arranged by S.O. Warburg In conjunction with Warburg Parlbas Becker
    Reuter  -  167 words
  • Article
    Lock icon Massey— Ferguson
    65 5 Reuter DES MOINES. lowa, Frl. Massey-Ferguson, a major farm implements manufacturer, said yesterday It had sold more than US$l5 million worth of tractor parts to an Egyptian Company. Massey-Ferguson said It would sell El Nasr Automotive Manufacturing parts to assemble 2,100 tractors. The tractors will be assembled In
    Reuter  -  65 words
  • Article
    Lock icon Michaels, Stern
    86 5 Reuter ROCHESTER, New York, Frl. Michaels, Stern, a manufacturer of men's suits, said yesterday it would close a plant at Penn Yam, New York on Monday, affecting 350 workers. The company, which began business before the Civil War, declared bankruptcy last March 25. It said that its two
    Reuter  -  86 words
  • Article
    Lock icon Mobil ups offer for Irvine
    101 5 Reuter LOS ANGELES, Frl. Mobil raised its offer to acquire Irvine Co to U*****.9 million or $38.25 a share, the James Irvine Foundation said. This tops Taubman-Allen-Irvlne's offer of $317.7 million or $37.75 a share. Under rules set by the foundation, Irvine Co's majority owner,
    Reuter  -  101 words
  • Article
    Chrysler
    44 5 LONDON. Frl. Chrysler Credit Canada Is Issuing a Cs2s million five year Eurobond with an indicated coupon of 9K per cent to be placed in the Middle-East, First Boston as lead manager said. It said the issue will be guaranteed by Chrysler Financial.
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  • Article
    Setback at Conrail
    84 5 PHILADELPHIA, Frl. The government-owned Consolidated Rail yesterday reported a loss of U*****.6 million in the first three months of 1977. The company, formed to take over the operations oi several falling NorthEastern private carriers, said its revenue for the period totalled $770.4 million. Conrail said last winter's
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  • Article
    Chemical New York
    72 5 NEW YORK, Frl. Chemical New York, parent holding company of Chemical Bank, today declared a quarterly dividend of US$O.75 per share payable on July 1 to stockholders on its record by June 15. The dividend represents a three cents share increase over the previous quarterly amount. The
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  • Article
    Amoco
    57 5 MANILA. Frl. A consortium led by service contract operator Amertcin Oil Company Amoco reported reaching a depth of 2,300 metres in its Amoco Reed Bank A-l well, a spokesman for the Energy Development Board said. The spokesman said the well, spudded on April 1, is scheduled to be drilled
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  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      209 5 SINGAPORE air COMMUNICATIONS Underlining an urgent need: While the Telecommunications Authority of Singapore is busily expanding services to link up with the world, the quality of domestic service still needs improvement. Crossing over to computers: Telecoms is employing computercontrolled equipment to meet increasing demand and usage of facilities. PROPERTY Caught
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  • Article
    Share Information Service
    2099 6 1*77 High Low Caapuy Last Safe +«rGr'« 4* Dtv c'rr Qr'i Nat y'U P/E Val Day (*900) High Lnr 8ECTION ONE > INDUSTRIALS 144 133 204 76 212 101 198* 183 219 392 136 127 204 58 212 57 155 152 182 350 Acma Aetna A Alcom
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    Transactions in Singapore
    1289 6 BID and offer prices officially liatcd 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
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  • Article
    In Kuala Lumpur
    1099 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 Ainu (1.40B). AJMamata II UB 2.008), XD. At* an (1.808 I.SSST).
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  • Article
    Stock options
    61 6 STRIKING price® ot the stock option* officially listed on the Stock Exchange of Singapore, the periodsTbid and offer prices and business done yesterday, with the number of option* traded shown in brackets. DBS (June S3 90) (0 02B): (Dec 83.60) (0.308 0.378): Inchcape (June 82.40) (0 058 0
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  • Article
    Unit trusts
    142 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' prices for May 11) (Current pries The Commerce 1.64 1 73xd INCOME BOND ..1.05 111 The 8a vln( Fund .0 .88 0 83 S'pore Prog Fund .0.80 S'pore Security Rind 1.44 0.85 MARA BUMIPUTRA FUND 1.52 (Managers' prices for May 11)
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  • Article
    Corporate bonds
    167 6 B O T 7 8/8% IM4 (100,000) (98MB 96%5) B O T 8 1/2* 1981 (100,000) 1102 MB 102H8) 1881 1/2% IM2 (100,000) (100 MB 101 MS) DBS Convert! 1/2% IMI (100,000) (97*>B 98MS) E I B 9% 1982 (100.000) (1038 103 MS) E I B 8 1/4%
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  • Article
    Domestic govt bonds
    97 6 6 1/2% 1/4/78 (250,000) (101.488 101.558) 5 1/2% 18/4/78 (250,000) (101.35B) 8 1/4% 18/7/78 (250,000) (101.458 101.555) 4 3/4% 1/8/79 (250.000) (100.738 100.80S) 7% 1/7/79 250,000) (104.85B) 5 1/4% 18/10/79 (250,000) (101.68B) C 3/4% 18/8/80 (250,000) (103.30B) 8 3/4% 1/12/80 (250,000) (103.30B) 8% T F 18/4/81 (250,000)
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      Page 6 Advertisements Column 1
      410 6 THE GREAT BOOKS of the beautiful, durable bindings is the MI jord of the fundamental ideas of M ■■HI VfllVH M science, history, psychology, W I SHI W^rllhl# Here in beautiful, durable bindings is the whole record of the fundamental ideas of mankind science, history, psychology, mathematics, theology, literature and
      410 words
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  • Article
    Shares close mixed
    402 7 GBNKKALLY, trading ••idiiUii rtaalMi tW Stock ukd«MdMdir is salsctive tradiag with the second aad third Umh still Waaihi activity. Toward* ths cloemg hour, however, mom reaewed baylag iaUrwt prevailed part of the The coatre of attention, Ceatral Sagars tradad rather orratieally. The bulk aad the baan ill—
    402 words
  • Article
    KL mart stages slight rally
    528 7 SHARES staged a come back following two days of bearish spell to finish with marginal gains at the Kuala Lumpur Stock Exchange yesterday. Trading was fairly active. Most of the gains were recorded In second and third liners which were singled out for another round
    528 words
  • Article
    Lock icon Mitsui Petroleum
    72 7 Reuter TOKYO, Wed. Mitsui Petrochemical Industries said it granted a licence to Diamond Shamrock of the US to produce an activated catalyser for polypropylene fibre production. Mitsui and MontecatlnlEdison of Italy Jointly developed the catalyser, which helps simllfy the polypropylene production process and reduce production costs, it said.
    Reuter  -  72 words
  • Article
    Lock icon Tai Sang rises marginally
    50 7 Reuter HONGKONG, FYI. Tal Sang Land Development said consolidated net profit rose marginally to HK510.54 million in 1976 from $10.41 million in 1975. The company is paying an unchanged final dividend of six cents, which maintains the total dividend for the year at nine cents. Reuter
    Reuter  -  50 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      350 7 HONOKQNO: The market dosed steady on Friday with blue chine narrowly jniaad and second liners morally firm, in moderate trading but with turnover sharply reduced from Thursday, dealers said. The Hang Sam Index ram 0.30 to close at 481.30. Hanflhsag Bank rose HKIO cents to $18.00, awrs leeifie five
      350 words
    • Article
      Tokyo
      347 7 AsahlChem 138 unch AsahlQlass 390 unch BankTk 197 -1 Banyu 449 >9 Brldgestone 921 unch Canon 619 10 Chiyoda Chubu Pwr 870 Cltlsen 340 unch D Nip Print 981 -2 DNIpToryo 187 •1 Dalle hi Kangyo Bk 274 -1 Ebara 390 +4 Fuji Bank 280 ♦8 Full Photo Fuji
      347 words
    • Article
      Sydney
      402 7 SYDNEY: The market firmed, with the Sydney Ordinaries Index reaching a year's high, dealers said on Friday. It dosed 8.00 points highsr at 400.30. Banking stocks led the rim, with the Wales Beak gaining 22 cents to 08.30 folloarlng Its higher interim profit report. Elsewhere among Industrials, Stacks and
      402 words
    • Article
      Manila
      164 7 MANILA: The market closed mixed, as orts and commercials continued to rise, while the mining sector declined, dealers said on Friday. Turnover rose to 1.38 million pesos from Thursday's 1.43 million. Gainers Included Btias Caa A, Marinduhua B, Phil Ovwmm, San Miguel A and B and Saaftvat, while Bagaia
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    • Article
      Bangkok
      55 7 Banta 160 297 in unch 1 'ITWiWWi unch I- WJ A! 1"ii. «lll Ban«kok-Metro-politan Bank 4496 BerUJucfcer 250 -2 Charoonf Thai Wire Dumex DusltThanl 1918 raber Merlin FtmTruat Indo-Thal 1838 ♦3 Industrial Finance Corp 118ft fttt FPWHHW XI vHPH JHUI 1' 1 W T-* V "HI IJKUHl -B9 -T
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    • Article
      Amsterdam
      300 7 AMSTERDAM: The market continued mainly easier In dull conditions dealers said on Thursday. Dutch Internationals were lower on balance, but Uattrrar firmed slightly ex-dividend and Bajrel Omsk ram one guilder on higher first quarter profits. Shippings rose, except for Sckeervaart Uak which Ml 0.00. KLM fell 3.40. Banks were
      300 words
    • Article
      Brussels
      191 7 BRU88EL8: Share prices closed mixed with a mostly higher bias In Urller trading, bourse sources said on Thursday. Sldro, Aatnriaaae, Viaiila Moattp«, Hobokan, FN, Sehray, St Roach, and CBR all rose but SaAaa, Aoac and Mas—a fell. Unarg and Bmwlhi IsMbsrt were little changed. Unarg said Its capital rise
      191 words
    • Article
      Frankfurt
      283 7 FRANKFURT: Shares cloted weaker with most showing losses of up to three marks, market sources said on Thursday. Msaimsmsaa lost seven marks following reports of worker directors' resistance to the proposed seven mark 1976 dividend. In chemicals, Basf lost 2.90 marks on Its outlook for 1977 while in engineerings
      283 words
    • Article
      Milan
      156 7 MILAN: Stocks continued to decline, bringing the bourse further Into 22 years lows, on a general lack of buying interest, bourse sources said on Thursd*iontadi»oa led Industrials lower with a 9.3 per cent fall. Saia Viaooaa, both Pirellis and GaaafaJa ImmobOiare also eased. Olivetti Ordinary was marginally lower, while
      156 words
    • Article
      Paris
      331 7 PARIS: The market was narrowly Irregular with an easier undertone although electrtcals were firmer on Thursday. Many investors were sidelined ahead of the television debate between Prime Minister Raymond Barre and socialist leader Francois Mltterand. Boral, which announced a higher first quarter loss on Wednesday was Initially untraded because
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    • Article
      Zurich
      293 7 ZURICH: The market closed on Thursday generally easier In selective turnover Influenced by a lower Wall Street dealers said. Swissair declined Major banks, however continued to recover after the recent setback caused by the Krsdltssstalt affair, they said. Krsditaastalt was actively higher. Among flnanclals. Osrliksa-Bushrls regained ground after recent
      293 words
    • Article
      Jo'burg
      397 7 JOHANNESBURG: Oold shares were quietly traded on Thursday, but overall the gold market was fairly steady, dealent said. There were minor gains In selected stocks on overseas Interest, but one or two shares were lower. Financial minings were featureless and prices were little changed. There was little Interest In
      397 words
    • Article
      Toronto
      302 7 TORONTO: Share prices closed lover on Thursday in moderate trading with the composite Index down over one point and advances In balance with declines. Cutdiu Cellulose eased to 7-* on lower first quarter earnings and luk« A, which reported reduced fourth quarter and year results, lost to 24- PetroAaa
      302 words
    • Article
      New York
      1095 7 NEW YORK: The stock market on Thursday recovered some of Wednesday's losses In active trading but late resistance led to a moderately lower closing The Dow Jones Industrials closed 1.38 points lower at 925.54 points, and the New York Stock Exchange Index ended only slightly below Wednesday's closing.
      1,095 words
    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIALS Thursday 470.2 Wednesday 456.6 Week Ago 443.3 DOW JONES AVERAGE INDUSTRIALS Thursday 925.54 Wednesday 926.80 Week Ago 943.44 LONDON DOLLAR PREMIUM Thursday 120 to 120Vi Wednesday 120W to 121 H.K. HANG SENG Thursday 450.91 Wednesday 452.17 Week Ago 445.04 SYDNEY INDUSTRIALS Thursday 360.44 Wednesday 364.83 Week
      61 words
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      Page 7 Advertisements Column 1
      419 7 The Syntoplcon now makes It possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, Justice or almost any topic conceived by the human mind. The Syntoplcon can guide your hand to the proper volume. Your eyes are directed to the right
      419 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      836 8 OPENING quotations In the Singapore rubber market yesterday were marked down one cent following easier London advices and thereafter prices fell gradually to lose a further 0.75 cent on stale bull liquidation. Physicals and forwards were neglected. Rubber prices fell back during the morning session,
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    • Article
      Closing prices
      31 8 RuMmt: May 1} Singapore: June 197.00 eta (down 2.25 eta.) Malay aim: June 198.00 eta (down US cU) Tin: $1,448 (UP $4) Official offering: 219 teonee (down 51 tea-
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    • Article
      Produce prices
      285 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PKR PICUL YESTERDAY. Coconut Oil: Bulk (105 sellers, old drum SllO sellers, new drum Sll5 sellers. Copra: Mixed (loose) UK/Cont. $08 buyers. Pepper Muntok AST A white f.o.b. 100% NLW (392-1/2N sellers. Sarawak white f.o.b. 96% NLW (372-1/2 sellers, Sarawak special
      285 words
    • Article
      SSR and SMR
      79 8 R.A.S. Jmmt (CwnatMtk) (Forward Mtfc) ouym ipa'W (COT taper kg) SSR 20 (1-ton Pallet) 194.00 196.00N 190.80 196.SON S8R50 (1-ton Pallet) 191.50 192.SON 193.00 194.00N M.RtE.L.B SMR5CV (1-ton Pallet) 219.00 221 00N 221.00 223.00N SMR5L -ton Pallet) 217.00 219.00N 219.00 221 00N SMR 5 (1-ton Pallet) 200.30
      79 words
    • Article
      Hongkong comex
      109 8 HONGKONG. Frl. Cotton futures closed mainly higher, with March up 0.05 cents, December, May and July rising between 0.40 and 0.55 cents, but October 0.07 lower, dealers said Closing tone was slightly easier after a steady opening. Turnover was little changed at 125 lots compared with 129 yesterday,
      109 words
    • Article
      Straits tin
      131 8 THE Straits tin price In Penang yesterday was up $4 to $1,458 on an official offering down 51 tonnes to 219 tonnes. In LONDON yesterday, tin opened firmer with 825 tons. Spot buyers 5780, sellers 5785; business 5790 5775. Three Months buyers 5860, sellers 5865; business 5868 5845.
      131 words
    • Article
      Palm oil
      120 8 THE following palm oil price* were quoted In London on Thursday. The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Thursday Pi*». Malaysia i% ffa bulk Jul/Aug unch MO sir Sumatra 5H May unch 870 slr/670 pd June MSqtd 838 875.50
      120 words
    • Article
      Gold
      310 8 IN the Singapore gold market yesterday the kllobar was quoted in the range of 5511,775 to $11,800. The loco London gold opened at U*****.60/147.90. and closed at U*****.90/148.30. The London morning fix was U*****.60 up 40 cents on the previous fix. Source: Siagmae In HONOKONO yesterday, gold closed $1.70
      310 words
    • Article
      Silver
      69 8 LONDON, Frl. Silver lost between 2.2 and 2.5 pence per troy ounce on Thursday afternoon. Values were basically steady, although any advance was dampened by the downturn in the gold price, dealers said. In NEW YORK, on Thursday, Comex silver lacked fresh fundamentals. Futures trading was slow, with prices
      69 words
    • Article
      Lead
      37 8 LONDON. Frl. Lead closed with losses of £5 for Cash and £4 for Three Months on Thursday afternoon. Values held steady In sympathy with the general trend although the turnover of 6,150 tonnes was mostly carries.
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    • Article
      Zinc
      51 8 LONDON, Frl. Zinc rose £1.75 for Cash and $2.50 for Three Months In the morning. Zinc rose In sympathy with copper but lacked fresh incentive on its own account, dealers said. Three Months finished routine ring dealings at £381.50 per tonne. Of turnover of 2.900 tonnes, about half were
      51 words
    • Article
      Copper
      204 8 LONDON, Frl. Copper wlrebars gained £7 all round In the morning. Dealers said prices picked up on the pre-market where, three Months traded from £841 up to £845 per tonne on scattered short-covering included by the steady New York close and expectations of a moderate fall in warehouse stocks
      204 words
    • Article
      Sugar
      207 8 LONDON, Fri. Quiet conditions persisted In the morning, but prices displayed a steadier trend on some fresh buying and short-covering in the near positions. Sellers were rather reserved in front of the New York opening and by end of session, values were around the morning's highs £2.70 to £1.60
      207 words
    • Article
      Rubber prices still fluctuating
      440 8 THE markets have continued to Indulge in their familiar see-saw pattern behaviour, within a narrow three-cent band, to eventually finish some two cents lower than starting levels, said Holiday, Cutler and Bath In its weekly rubber market review. With orders largely hand-to-mouth and local pointers lacking,
      440 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        500 8 THE Japanese yen made a remarkable recovery yesterday from Thursday's drop in the foreign exchange market following a call by International Monetary Fund managing director Johannes Witteveen that Japan should allow Its currency to float In line with free market forces. The Deutsche mark was similarly affected. The US
        500 words
      • Article
        Asian $ rates
        147 8 Asian rates ASIAN currency deposit interbank rate* a* at cloae on Mar 12. 1 USDolla Ofhr ""CI 7 day* 57/1® 5 5/18 1 mth 515/16 5 13/18 2 mtlu 5 3/4 55/8 3 mths 5 7/8 51/4 8 mths 1/4 81/8 8 mths «7/16 85/18 12 mths 89/18 7/16 sw.m.
        147 words
      • Article
        Discount
        7 8 pgjgfc Source: National Discount Co. Ltd.
        7 words
      • Article
        Euro $ rates
        120 8 Euro rates LONDON. Prl. Period Eurodollar deposits opened mostly easier In quiet to moderate trading while shortdates continued steady at the outset, dealers said. One Month gained around 1/8 against the trend, due to a Friday end of period, and Nine Months opened steady, also reflecting a Friday end. Rates
        120 words
      • Article
        Treasury bills tender
        49 8 RESULTS of tender held on May 13, 1977 for 91-day Treasury bills to be Issued from May 10 to 20. Offered: $30 million Applied for: $88,400,000 Alloted: $30 million Accepted bids: $99.27 (approximately $4® higher bids In full) Average rate of discount oir allotment: 2.925% pa.
        49 words
      • Article
        London
        258 8 LONDON, Frl. The dollar extended its decline against major European currencies in opening trading here following International Monetary Fund's managing director, Johannes H Witteveen's call yesterday for an appreciation of the stronger currencies. Dealers said renewed speculation that some form of currency realignment Involving the mark and yen may
        258 words
      • Article
        New York
        169 8 NEW YORK, Frl. The dollar closed weaker yesterday than Wednesday night after International Monetary Fund managing director Johannes Wltteveen urged Germany and Japan to let their currencies appreciate, dealers said. The remarks reawakened fears which began ahead of the London economic summit last weekend that an International currency
        169 words
      • Article
        Tokyo
        149 8 TOKYO, Frl. The yen strengthened on the local foreign exchange market today after yesterday's sharp decline which followed news of a fire at Saudi Arabia's second largest offshore oilfield. The Japanese currency closed at 277.30 to the dollar for overnight delivery, up from 277.80 at the opening and 279.35
        149 words
      • Article
        Hongkong
        105 8 HONGKONG, Fri. The US dollar eased to a late HK54.0075/90 from the overnight $4.0770/90, reflecting Its fall In New York, some pro fit-taking, following Its recent rise here and a general view US dollar interest rates may have peaked, dealers said. The yen was volatile and closed at 277.25/40
        105 words
      • Article
        Minimum lending rates (in %)
        60 8 Minimum lending rates (in ACBC 6% First Chicago 6^ Algemene Bank 6* Citibank 8*. Bangkok Bank 7 HSBC 7 Bank of America 6% Indosuez «v 4 Bank of China... 7 Malayan Banking 6^ Bank of Tokyo 6*. Mitsui Bank 6*5. Bank Negara Indonesia 7 OCBC OUB 6V. fii, Chartered Bank
        60 words
      • Article
        Australia/ NZ
        52 8 AUSTRALIA/NZ exchanges quoted on May 13. Australia: Sterling 0.6454/ 0.6380 US dollar 1.1059/ 1.1011 Ninety-day air mall buying rates: Sterling 0.6634 US dollars 1.1309 Ninety-day forward buying rates: Stirling 0.6427 US dollars 1.0941 New Zealand: Sterling .5590/ .5559 US dollar .9656/ .9556 Ninety-day forward rate: Sterling .5768 US
        52 words
      • Article
        Zurich
        41 8 ZURICH exchanges closing quotes on May 12. US 2.5247-5255 UK 4.3415-3440 Can 2.4030-4050 W Germ 106.56-63 Neth 102.36-44 France 50.84-88 Belg 6.96-V4-97-K Denm 41.84-87 Norw 47.79-82 Swed 57.82-86 Italy 0.2849-2852 Austria 14.98-15.00 Port 6.51-53 Spain 3.66-66-% Arg 0.65-80 Japan 0.90-tt-91
        41 words
      • Article
        Frajikfurt
        30 8 FRANKFURT exchanges opening quotes on May 13. Can 2.2455/75 UK 4.056/066 Neth 96.12/225 Swltz 93.66/76 Italy 2.658/665 France 47.60/70 Norw 44.74/84 Belg Com 6.532/542 Belg Fin 6.525/535 Japan 0.8500/10
        30 words
      • Article
        Eurobond prices
        164 8 LONDON Eurobond prices quoted on May 13. The rest were unavailable due to a communications breakdown. StrsichU Bia Offer MtgBk Denmark 8 83 101* 102* Mt Finland 9 V. 83 101* 102* Nadonal Financier* 10 81 102 103 Merges Kommunal 8* 91 984k Occidental Oversea* 8* 87 90S
        164 words
      • Article
        Lock icon SEC sets date
        60 8 Reuter WASHINGTON, PH. The Securities and Exchange Commission set Jan 1, lflTO as the tentative date for ending all restrictions set by stock exchanges on offboard trading by members. The action is directed primarily at New York Stock Exchange rule 390 which prohibits members from taking trades
        Reuter  -  60 words
    • Article
      Coffee
      240 8 LONDON, Fri. Early selling was well absorbed in the morning, meeting good scale down support with small quantities of self trading from local dealers and trade houses taking place at the lower levels. Dealers said the easier tendency reflected New York's lower close with sentiment affected by news that
      240 words
    • Article
      Soybeans
      141 8 CHICAGO. Frl. Soybean futures closed yesterday with limit gains of 30 cents a bushel In old crop months and September and were up 17 1/4 to 5 1/4 cents In other months. Reports of Improved demand for soybeans and products in European and domestic markets and favourable price performance
      141 words
    • Article
      Wheat
      89 8 CHICAGO, Frl. Wheat futures registered gains of seven to 9 1/2 cents a bushel yesterday at the end of an active trade. With the strength of soybean futures contributing support, prices advanced on short-covering and speculative buying. Part of the Increased trading volume was contributed by traders who moved
      89 words
    • Article
      Rice
      209 8 BANGKOK, Frl. Indicative prices for rice quoted In US dollars fob basis Bangkok were: White Rice: 100 per cent Ist class 284 100 per cent 2nd class 267 100 per cent 3rd class 282 5 per cent 252 10 per cent 232 15 per cent 229 20 per cent
      209 words
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      Page 8 Advertisements Column 1
      45 8 Peter Benchley 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAILY TELEGRAPH 'For the second time -the book you can't put down' -DAILY MAIL Now on Sale at your regular bookshop Distributed by: TIMES DISTRIBUTORS SDN. BHD. Timee Houm, River Valley Road, Singapore 9
      45 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon US car sales will reach record 15 mil
      736 9 HENKY FORD PREDICTS... DETROIT, Friday AP HENRY Ford 11, citing stronger than expected demand for new cars, has predicted that new vehicles sates in the United States would reach a record 15 million this year. The forecast by the Ford Motor Company
      AP  -  736 words
    • Article
      Lock icon Americans spend more on travel than on housing
      165 9 AP WASHINGTON, Fri. Americans are spending more for transportation on the average than they are for food and housing, a survey by the United States Bureau for Labour statistics said yesterday. The Jump in transportation expenditures from 15 per cent In the
      AP  -  165 words
    • Article
      Lock icon Hydrofuel saves 25 pc on petrol
      110 9 Reuter NEW YORK, Fri Petrol diluted with water and alcohol could save up to 25 per cent of the petroleum used to fuel cars, a research company says. United International research of suburban Hauppauge, New York, says It has developed a means of blending
      Reuter  -  110 words
    • Article, Illustration
      IN PORT
      409 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Teratal (1200 after Oriental Antelope) (Class I on board) 31/31 Cherry Vllja (B. Barge) (1500 tbc) 38/39 Golden Wonder (0600) 25/26 Jakarta (0600) 19 Llyod Bakke (1800 45 Mozhaysk (0700) 1/2 Nagoya Maru (JCCT) (0600) 27/28 Nedlloyd Kembla (after Jalamorarl) 8/9 Petallng
      409 words
    • Article
      Lock icon Spain still enjoying motoring honeymoon
      1058 9 FT LONDON, Frl. To talk to motor companies In Spain today Is like being transported IS years back to the beginning of the great European sales boom of the *****. Everyone Is confident of growth, everywhere companies are pushing ahead with new capacity, and at
      FT  -  1,058 words
    • Article, Illustration
      Biggest LNG purging job by Soxal
      195 9 SOXAL recently completed man-sized job in supplying 260,000 cubic metres of liquid nitrogen for purging and inertinc on board the Norman Laaay, a 76,416 grt LNG carrier which docked in Singapore. The operation was carried out at the Hitachi Zosen Robin Dockyard at Jurong.
      195 words
    • Article
      Lock icon London freight market
      169 9 AP LONDON. Frl. Chartering on the London freight market yesterday concentrated on the North American grain origins where Great Lakes rates weakened while US Gulf payments held at previous levels. The Sava accepted the lower figures of US$l3 dollars and US$6 (FIO) for a 28,000-tonne May-June movement
      AP  -  169 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      620 9 ARRIVALS Service Operator Number Loca Tim< 1 From CAL CI333 0040 TPE/HKO/KUL CPA CX003 0145 HKO MAS MH682 0810 KCH PAA PA847 0830 SFO/HNL/GUM CPA CX710 1000 HLP CAL CI814 1000 HLP SIA SQ211 1015 HLP OIA OA980 1030 HLP THAI TG423 1035 BKF OIA OA 908
      620 words
    • Article
      BBS-EAC
      265 9 BBS/EAC is a Joint service operated by Barber Blue Sea (BBS) and East Asiatic Company (EAC) of Denmark. The ships in this service comprise six BBS ships and four EAC ships. The BBS ships load in Singapore for the US and Venezuela but the EAC ships load here for
      265 words
    • Article
      Daiwa Line service
      74 9 ANOTHER non-conference carrier has announced a regular monthly service between Singapore and the Persian Gulf ports. Daiwa Line of Japan will operate conventional vessels on a regular run from Japan to Singapore and on to West Asian ports, such as Khorramshahr, Damman, Abu Dhabi, and Dubai. Ships
      74 words
    • Article
      Lock icon Govts' role
      33 9 Reuter PARIS, Frl. The International Chamber of Commerce (ICC) said a general consensus was reached that government involvement- Is unavoidable, but that a self-regulating shipping body would help minimise It. Reuter.
      Reuter  -  33 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      193 9 GAMBLERS HANDBOOK 1 .1 r„„firt r J <f tiut nr. f f i P' 1 jP' K,f |5 -w\ by E. Lenox Figgis F.C.A. A practical handbook explaining how batting takee place on the world's moat popular betting paatknee, Including horses, doge, football poole, eportlng events, caelno gamoe, ouch aa
      193 words
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  • Article
    Lock icon The latest thing under the sun
    906 10  -  FOLLOWING the White House lead, everyone is worrying about energy supplies. So France is busy selling solar power stations especially in the fortunate West Asia, which not only has more oil than the rest of the world, but more sunshine. By JACK GEE FT.
    FT.  -  906 words
  • Article, Illustration
    Lock icon When East meets West on home ground...
    1354 10  -  Japanese moves to set up overseas manufacturing units are posing the question of how host counties will react By GEOFFREY OWEN FT AS MOST Western businessmen see it, the strength of Japanese industry is based on the scale and high productivity of plants
    FT  -  1,354 words
  • Article
    Lock icon Conflicts between 2 corporate cultures
    414 10 FT AS JAPANESE companies increase their manufacturing investments in the United States, the potential conflicts between Japanese and American corporate culture become more evident. While American senior executives are accustomed to give orders and expect their subordinates to obey them, the Japanese emphasise decision-making by
    FT  -  414 words
  • Article
    Lock icon MID-LIFE CRISIS AT FORD FOUNDATION
    1117 10  -  By CAREY WINFREY NYT IN ITS 41st year, the Ford Foundation Is going through a mld-Ufe crisis. Still recovering from surgery that has cut budgets and staff nearly in half over the last three years, and awaiting new leadership that will come with the changeover
    NYT  -  1,117 words
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      Page 10 Advertisements Column 1
      90 10 A wealth of answers to scientific phenomena LIFE SCIENCE LIBRARY jd A thousand questions you've asked but never had answers to. Now to be found in these fantastic volumes from Life Science Library. Vast information on every conceivable branch of science. The power of pure energy molecular theory mathematics the
      90 words
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  • Article
    Lock icon Carter admits Taiwan is an obstacle
    224 11 AP WASHINGTON, Frl. President Carter said yesterday he will move "expeditiously" towards normalising relations with China if the Taiwan problem can be resolved peacefully. Mr. Carter also confirmed at a news conference his previously reported Intention to nominate United Auto Workers president Leonard Woodcock
    AP  -  224 words
  • Article
    Lock icon Thailand seeks $212m for irrigation, farming
    262 11 Reuter BANGKOK, Frl.; Thailand Is seeking two loans totalling US$B6 million (Ss2l2 million) for Irrigation and agricultural development projects, Deputy Under-Secretary for Agriculture and Cooperatives, Mr. Thalerng Thamrong Navasawas, said. A loan of $29 million is being sought from the United States Operations Mission
    Reuter  -  262 words
  • Article
    Lock icon Tourists
    27 11 Reuter MANILA, Frl. Japanese and Americans led the 172,314 tourists who visited the country during the first quarter of 1977, the Department, of Tourism announced yesterday.-Reuter.
    Reuter  -  27 words
  • Article
    Lock icon CONCERN MOUNTS OVER THE JOBLESS EVIL
    702 11 NYT NFW YORK. Frl. The nan.ing of unemployment as the No. 1 problem facing the major Industrial democracies at last weekend's economic summit conference caught the headlines, but what did it signify? Until President Carter left for London, his economic policy had undergone a
    NYT  -  702 words
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    Lock icon Put it down in writing, Seoul to US?
    403 11 GUARANTEEING ITS SECURITY UPI SEOUL, Frl. South Korea may ask the United States to promise In writing to guarantee politically as well as militarily the security of the country In connection with the planned withdrawal of 33,000 American ground forces here, Seoul
    UPI  -  403 words
  • Article
    'Focus on turning out good leaders'
    278 11 ENCIK Mansor Sukalml, secretary for education of the National Trades Union Congress, yesterday said trade union movements should be concerned with producing leaders of quality and not merely look to developing more and more organisers. Speaking at the workshop on "Humanisatlon of the Trade
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  • Article
    Lock icon Backing for Egypt loans
    272 11 Reuter PARIS, Frl. Egypt yesterday won international support for loans and grants totalling US$5.4 billion (5513.3 billion) to meet its foreign currency requirements this year. World Bank officials said here yesterday. The Egyptian Government also received sympathetic consideration for its foreign aid needs over the next
    Reuter  -  272 words
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    Lock icon CHINA BUYS COTTON FROM U.S. AGAIN
    271 11 AP WASHINGTON, Frl. China has bought 47,600 bales of cotton, the first from the United States In two years, the US Agriculture Department said yesterday. Officials said the cotton Is for delivery after Aug 1, meaning that It probably will come from the 1977
    AP  -  271 words
  • Article
    Lock icon Tasmania to boost trade with KL
    127 11 Reuter KUALA LUMPUR. Frl. Tasmanlan State Minister of Primary Industries, Eric Barnard has held talks with Malaysian timber officials and fruit Importers about promoting trade between the two countries. Mr. Barnard told reporters after the talks yesterday that he hoped to persuade Tasmanlan fruit
    Reuter  -  127 words
  • Article
    Licences for majority of travel agents
    420 11 THE Singapore Tourist Promotion Board has approved most of the applications for travel agent licences under the Travel Agents Act 1975, but has rejected three. A spokesman for board said that It had received about 290 applications so far. The board has processed about
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  • Article
    Lock icon CITIBANK RAISES PRIME RATE
    188 11 AP NEW YORK, Fri. A number of major American commercial banks raised their prime lending rate from to B*4 per cent today. Citibank, the nation's second largest, and Morgan Guaranty Trust Company, ranked sixth, led the announcements. They were followed quickly by thirdranked Chase Manhattan Bank,
    AP  -  188 words
  • Article
    NPB programme for supervisors
    200 11 THE National Productivity Board will hold a course on "Production Planning It Control" at NPB Town Training Centre, Newton Road. This 10-sesslon programme Is scheduled for July 4 to 15. The course will be led by the consultant to the board's Industrial Engineering Unit, Mr. Bernard
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  • Article
    3 Esso firms merge
    91 11 THREE Singapore-based Esso companies have been reorganised Into one to simplify the organisational structure of Esso here. According to the latest copy of the Esso Eastern Review, the operations of Esso Asia Services and Esso Standard Singapore have been merged Into Esso Singapore. The reorganisation Is
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    Mr Chen's promises
    144 11 MR. Bernard Chen, People's Action Party can* didate for Radin Mas, yesterday outlined to Um presa programmes which he plans to implement once elected into Parliament. Mr. Chen said the first was the setting-up of a community centre to act as a focal point for residents of
    144 words
  • Article
    WIND-UP OF THREE FIRMS
    123 11 MR. Justice Kulasekaram yesterday ordered three companies to be wound up. They were Oolln Department store Pte. Ltd., Chong Fu (8) Pte. Ltd. and Singapore Express International (Pte) Ltd. Oolln was wound up on a Ktltion by Its chairman cause of Its financial situation. The liabilities
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    Lock icon Accord on interim dockers' contract
    189 11 AP MIAMI BEACH, Frl. Representatives of the International Longshoremen's Association (ILA) and North Atlantic shippers agreed yesterday to an interim contract affecting 35,000 dockworkers, shipping officials said. George Panltz of the New York Shippers Association said the contract renews an agreement thrown out last month
    AP  -  189 words
  • Article
    Cafhi likely to invest a further $12.5 mil
    369 11 CHANQI Airport Fuel Hydrant Installation (Oafhl) Is expected to invest a further $12.5 million on Its facilities after 1962 to keep pace with planned development at the Changl airport. This will bring total Investment by the six major oil companies in the
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    Lock icon MALAYSIA TO INSIST ON RIGHTS OVER STRAITS
    213 11 Reuter KUALA LUMPUR, Frl. Malaysia seeks changes In a text at the United Nations conference on the Law of the Seas which denies its rights over the Straits of Malacca, secretary-general of the Ministry of Science, Technology and Environment, Enclk Mohamed Hashlm La
    Reuter  -  213 words
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      392 11 APPOINTMENTS Sime Darby Sime Darby Eastern International Limited invites applications for the positions of DEVELOPMENT ACCOUNTANT PROJECTS AND SYSTEMS ACCOUNTANT Sime Darby Eastern International Limited is the divisional headquarters of the Sime Darby Group's Eastern International Division with responsibilities for the management, control and expansion of the Group's activities in
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      338 11 NOTICE IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE Companies Winding UP No. 49 of 1977 In the Matter of The Companies Act, Chapter 186 In the Matter of Ten* Ta Construction Company (Private) Ilimited ADVERTISEMENT OF PETITION Notice Is hereby given that a petition for the winding up
      338 words
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  • Article
    Lock icon Set-up of Swiss auditing unit likely
    172 12 Reuter BERNE, Frl. Swiss Federal Banking Commission president Hermann Bodenmann said It is probable that National Bank president Frlfz Leutwller's suggestion that a special Independent auditing body be established will be taken up. Mr. Leutwller suggested this as a "professional fire brigade" at the
    Reuter  -  172 words
  • Article
    Maiden voyage of the Mercator
    142 12 THE "Mercator" called at Singapore yesterday, on her Europe/ For East maiden voyage. She is owned by Cie Maritime Beige and Ahlers Li——. Built in France and delivered in April this year, her port of registration is Antwerp. The 24,700-tonne vessel takes up to 1,458
    142 words
  • Article
    Brez for Paris
    25 12 PARIS, Frl. Soviet Communist Party leader Leonid BrJzhnev Is expected to visit France from June 20 to 22, Informed sources said yesterday.
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    LONDON STOCKS
    741 12 LONDON Frl. The stock market was unaffected by the April trade figures and closed steady, dealers said. At 3.00 pm the Financial Times Index had lost two points at 468.2. Sentiment In government bonds was helped by the exhaustion of the 9% per cent Exchequer 1982 "tap" stock
    741 words
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    S'pore hostile to Tarling? Eleven prominent men think otherwise...
    3314 12 LONDON, Frl. A crosssection of prominent businessmen, professional people and top civil servants from Singapore have come out to say that It is "preposterous" for Richard Tarling to suggest in his defence against extradition that the Singapore Government Is able to
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    Japanese business team due in next week
    159 12 A NINE-MEMBER mission from Japan, now In Kuala Lumpur, will arrive in Singapore on Thursday to explore Investment opportunities here. During thelc four-day stay in Singapore, the mission will hold talks with senior officials from the Economic Development Board and Jurong Town Corporation
    159 words
  • Article
    EXPLOIT NZ MART TO FULL CALL
    451 12 SINGAPORE exporters should explore In full the opportunities of Increasing exports to New Zealand ana maximising the benefits under New Zealand's Generalised Scheme of Preferences. Addressing a gathering of about 80 local traders and government/ officials, Mr. Rldzwan Dzaflr, director of trade, urged local
    451 words
  • Article
    No permits needed for these items
    134 12 TO facilitate the flow of trade, the Trade Department has announced several items which will no longer require import/export permits. Heading the list are trade samples, gifts and specimens for testing or analysis not exceeding 1300 In value. Other items exempted from trade documentation
    134 words
  • Article
    SMA to send trade mission to W Asia
    183 12 THE Singapore Manufacturers' Association is organising a 10-member trade mission to West Asia in conjunction with the British Airway's Inauguration flight to Muscat, according to the SMA chairman, Mr. Ong Leng Chuan Mr. Ong said yesterday that the 15-day mission will leave
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    Lock icon US weighs merits of joining tin buffer stock
    631 12 Reuter WASHINGTON, Frl. The U8 Is currently conducting a study on the merits of a possible contribution to the International Tin Council (ITC) buffer stock, a State Department spokesman said. In answer to questions over the current visit here of ITC chairman
    Reuter  -  631 words
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    Lock icon Aussie reserves up
    138 12 Reuter. SYDNEY, Frl. Australia's foreign reserves rose As 44 million (Ssll9 million) to $3.04 billion In April following a $177 million fall In March and a $68 million fall In March 1976, and stood $543 million higher than a year earlier, the Reserve Bank said. Excluding valuation
    Reuter.  -  138 words
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    Lock icon STRAITS TIN UP
    64 12 Reuter KUALA LUMPUR, Frl. The Straits tin price In Penang rose M 54.00 per plcul to $1,458, $133 above the International Tin Agreement celling, dealers said. The marginal advance was attributed to a steady overnight London Metal Exchange and some buying support from Japanese, European and US
    Reuter  -  64 words
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      80 12 Asean Business Quarterly A 72-page quarterly magazine, with no advertisements, costing S$ 10 (US$4). It includes trends, up-to-date statistics (200 tables) and comment as a guide to financiers, investors, shippers and traders with interests in ASEAN countries. Write for a 16-page illustrated booklet free of charge. Asia Research Pte. Ltd.
      80 words