The Business Times, 19 May 1977

Microfilm: NL9307
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 THURSDAY, MAY 19, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Parliament sitting
      23 1 PARLIAMENT will sit on May 27, when the newly elected MP for Radln Mas, Mr. Bernard Chen, will be sworn in.
      23 words
    • Article
      Lock icon Tokyo boat seized
      81 1 Reuter TOKYO, Wed. Soviet authorities today captured a Japanese fishing boat In waters off one of the four controversial Soviet-held Islands, which have been claimed by Japan, for the first time this year, the Japanese Maritime Safety Agency said. The capture by a Soviet patrol boat of
      Reuter  -  81 words
    • Article
      Lock icon Arms aid for Jakarta
      57 1 AP JAKARTA, Wed. Defence Minister Oeneral Maraden Panggabean said today the US government soon would provide Indonesia with US$5B million (Ssl43 million) In military aid for the 1077—78 fiscal year. Oen. Panggabean said Indonesia would receive $18 million under the military aid programme and $40 million
      AP  -  57 words
    • Article
      Lock icon Investing in Seoul
      69 1 AP SEOUL, Wed. A visiting US business delegation, led by chairman James Voss of Caltex Petroleum Corp., today announced plans by several of Its members to Invest in South Korea. It said Caltex has agreed to an additional investment of US$l6 million (Ss3o million) to expand a
      AP  -  69 words
    • Article
      Freighter sinks
      46 1 A 3 t OOO-TONNE Panamanian freighter, Kadlna, capsized and sank In the Eastern Anchorage yesterday after it was hit by strong winds. Another ship, Singapore-registered Kota Ruku, was dragged into shallow waters by the winds which also uprooted trees In some parts of Singapore.
      46 words
    • Article
      Lock icon Next Chinese PM?
      40 1 UPI TOKYO, Wed. Vice Premier Chi Teng-kul has emerged as a likely choice as China's next premier, taking over the post now concurrently held by Communist Party Chairman Hua Kuofeng, Japan's Kyodo News Service reported today. UPI.
      UPI  -  40 words
    • Article
      Lock icon Begin's plans
      77 1 UPI TEL AVIV, Wed. Surprise election winner Menahem Begin said today he would go to Washington as soon as he is named Prime Minister to confer with President Carter on his proposal for direct talks with the leaders of Egypt, Syria and Jordan. Mr. Begin's rlghtwlng Likud bloc
      UPI  -  77 words
    • Article
      Lock icon Dow Jones
      94 1 UPI NEW YORK, WW. Stocks headed higher early today In active trading of New York Stock Exchange issues. The Dow Jones Industrial average, which gained 3.98 points yesterday, was ahead 4.07 points to 940.55 shortly before the first hour of trading. The average has gained 10.94 points In
      UPI  -  94 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      190 1 TRADING conditions remained generally quiet and selective at the Stock Exchange of Singapore yesterday. The market was still preoccupied with most of the third liners, which attracted some profit-taking again after a steady opening. On balance, the market closed mixed with most of the lower-priced shares chalking
      190 words
    • Article
      In Kuala Lumpur
      115 1 Rises Most active M.U.I. Sel. Dredge Supreme Corp. S.P. Textiles 1 42 28 Pacific FVv 7. 534.000 5 05 +!l5 Central Securities 273,000 1.40 1.23 15 Perak Carhlde 266 000 +il3 General Lumber 193,000 C.C.M. 3.82 +.12 Total Turnover: 2.89 M Gentlng 3.50 M-.12 Total Value: MS3.95
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  • Article
    Lock icon End of two-tier price soon says Iraq
    224 1 UPI BAGHDAD, Wed. Iraqi Oil Minister Tayeh Abdul Karlm predicts that the Organisation of Petroleum Exporting Countries will soon end the two-tier price system that resulted when Saudi Arabia and the United Arab Emirates rejected a majority decision to Impose a 10 per
    UPI  -  224 words
  • Article
    Haw Par results today
    150 1 SHAREHOLDERS of Haw Par Brothers International will know after the Stock Exchange of Singapore closes at 4 pm today Just how badly their company did in 197 C. Haw Par's board met yesterday to finalise the results for last year, which the company warned as early
    150 words
  • Article
    Lock icon Saudi Arabia seeking seat on IMF board
    682 1 NO OFFICIAL REQUEST YET Reuter WASHINGTON, Wed. Saudi Arabia Is exploring ways of obtaining a seat on the executive board of the International Monetary Fund although It Is currently not pressing the Issue, informed monetary sources said. Both IMF managing director, Mr. Johannes
    Reuter  -  682 words
  • Article
    FEFC rubber pact will hit us hard
    585 1 SINGAPORE'S position as a transhipment centre for Malaysian rubber exports could be seriously affected If the merchants' agreement now under negotiation between the Far East Freight Conference FEFC) and Malaysia is successfully concluded. This is because currently Singapore handles an average some 27
    585 words
  • Article
    Japanese team scouts for joint ventures
    319 1 AN eight-man Japanese Industrial delegation flew Into Singapore last night to look Into possible Joint ventures here. The Economic Development Board, which Is taking care of the team led by Mr. T. Izuml, will act as broker to possible "industrial marriages" between Japanese and
    319 words
  • Article
    BID FOR PACTS
    65 1 MANILA, Wed. The Philippines is negotiating Investment treaties with Belgium, Canada and West Germany to attract more foreign capital from them, Informed sources here said. The pact being nego- tiated with Canada refers to insurance of Investments flowing to and from the two countries while those being
    65 words
  • Article
    Seaborne trade up in first quarter
    216 1 SINGAPORE'S seaborne trade for the first quarter of the year grew by 5.3 per cent to reach 13 924 million tonnes In volume terms in comparison with the first quarter of 1976. Exports, as measured by cargo loaded, continued to Increase at a faster
    216 words
  • Article
    The third local bank to open in Jakarta
    211 1 ASIA Commercial Banking Corporation will be SlngaE ore's third Indigenous ank to start a representative office In Jakarta in the space of six months. The office, which will be opened tomorrow by Enclk Rahlm Ishak. Singapore's ambassador to Indonesia, is expected to
    211 words
  • Article
    OCBC's stepped-up marketing drive pays off
    207 1 OVERSEA-Chineae Bank* ing Corporation is stopping up its marketing drive in an attempt to put to use its vast cash resources. "We have concerted our marketing efforts and the results are already becoming apparent in the bank's loan performance," says chairman Tan Chin Tuan
    207 words
  • Article
    Income up
    37 1 WASHINGTON, Wed. The personal income of Americans increased by seven-tenths of one per cent in April as the US economy returned to its normal growth pattern following a severe winter, the Commerce Department reported today.
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  • Article
    Sumitomo hopes to finalise plans soon
    492 1 SUMITOMO Chemical of Japan yesterday announced It hopes to finalise arrangements to built the proposed $2 billion SingaporeJapanese petrochemical complex before Prime Minister Lee Kuan Yew's expected visit .to Japan at the end of this month. A Sumitomo spokesman in Tokyo said the company
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  • Article
    Lock icon Aid steel project call
    198 1 Reuter BANGKOK, Wed. Industrial Finance Corporation of Thailand (IFCT) general manager, Mr. Varee BhongveJ said government rapport for th« establishment of a US$5OO million (551,250 million) integrated steel plant in Thailand was vltaf He told a meeting of industrialists and bankers on the project that the
    Reuter  -  198 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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    • Advertisement
      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
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  • OVERSEAS
    • Article
      Lock icon Growth outlook in EEC dimmer
      142 2 AP BRUSSELS, Wed. The European Commission, the Common Market's executive, said In Its latest monthly report on the world's economic situation that things are likely to improve in the United States, Japan and Canada In the coming months but that prospects are dimmer as far
      AP  -  142 words
    • Article
      Lock icon Unlikely for poor nations to default
      136 2 Reuter MANILA, Wed. Fears of defaults on loans by developing countries should be allayed by the fact that they enjoyed increased exports and lower imports in 1976, ManufacturersHanover Trust president John McGlllicuddy said. He added that the financial stability of non-oil producing countries as
      Reuter  -  136 words
    • Article
      Lock icon China crops benefit from heavy rains in May
      106 2 Reuter WASHINGTON. Wed. Rainfall was generally above normal over many areas in China last month, with heavy rains some excessive falling over most major rice provinces in central and southern China, the US Agriculture Department reported. Covering Chinese weather developments from mldAprll
      Reuter  -  106 words
    • Article
      Lock icon PAYOFFS STARTED A LONG WAY BACK BEFORE WATERGATE
      1069 2 NYT Reuter WASHINGTON, Wed. American companies began creating slush funds from which they made political contributions and other secret payments decades before tne practice was exposed during Watergate, according to Securities and Exchange Commission files made public yesterday. American Airlines, for example,
      NYT; Reuter  -  1,069 words
    • Article
      Lock icon Worthless stock racket smashed
      172 2 AP LONDON, Wed. A racket in worthiest North American mining stock, organised by Swiss and Italians, has been smashed b% Scotland Yard, police sources said today. The Yard said four men have been charged with conspiring to promote stock ■ales at inflated prices, and they will
      AP  -  172 words
    • Article
      Lock icon 'Soybean embargo of 1973 won't be repeated'
      235 2 Reuter COPENHAGEN, Wed. The US administration would not consider a soybean embargo even under circumstances similar to those in 1073, US Agriculture Secretary Bob Bergland said. In a statement to the European Seed Manufacturers Association (FEFAC) Congress read for him here, Mr. Bergland
      Reuter  -  235 words
    • Article
      Lock icon Honduran rust turns out to be harmless
      125 2 UPI AP TEGUCIGALPA (Honduras) Wed. Honduran coffee officials said yesterday their fears that the destructive coffee rust had spread Into Honduras were unfounded. Mr. Rafael Leonardo Callejas, Minister of Natural Resources, said samples of a coffee blight sent to Brazilian laboratories for analysis
      UPI; AP  -  125 words
    • Article
      Lock icon Russian wheat production on target
      367 2 AP. WASHINGTON, Wed. The Soviet Union appears well on Its way to meeting its 1977 grain production goal and may have a record harvest of winter wheat, the Agriculture Department said. The department's Foreign Agriculture Service said average yields Indicate the Soviet winter wheat crop
      AP.  -  367 words
    • Article
      Lock icon Hunt motion for hearing granted
      123 2 Reuter CHICAGO, Wed. US district court Judge Frank McGarr granted a motion by the Hunt family for an evidentiary hearing seeking to establish the validity of the Commodity Futures Trading Commission's (CFTC) position limit regulation, with the next hearing on this matter set for June
      Reuter  -  123 words
    • Article
      Lock icon $94m in tax relief for Americans abroad
      215 2 AP Reuter WASHINGTON, Wed. Americana working overseas will get an estimated USS3B million (5593.5 million) in relief when, as anticipated, President Carter signs the Tax Bill Congress passed. One provision of the measure changes the effective date of tax code modifications enacted last
      AP; Reuter  -  215 words
    • Article
      Lock icon Bonds
      42 2 Reuter LONDON, Wed. The weekly Issue of British Municipal Authority oneyear negotiable bonds carries a coupon of 9-1/4 per cent and an Issue price of 99-15/16, market sources said. Last week's Issue commanded a 9-3/8 per cent coupon at par. Reuter.
      Reuter  -  42 words
    • Article
      Lock icon Anti-boycott law gets the thumbs-up
      333 2 UPI WASHINGTON, Wed. Three New York Congressmen yesterday praised antiboycott legislation approved by a HouseSenate conference on Monday as a major step towards ending the effectiveness of the Arab boycott against Irael. Rep. Benjamin Rosenthal told a press conference the legislation is "a major step
      UPI  -  333 words
    • Article
      Lock icon £ EXPECTED TO DROP
      282 2 EXPECTED TO DROP Reuter LONDON, Wed. The Charterhouse Oroup Ltd said in its quarterly summer business forecast it expects sterling to drop to around US$l.66 (554.08) and stay at that level for a further six months. The differential between UK and New York interest rates is now little more than
      Reuter  -  282 words
    • Article
      Lock icon Warning on misuse of N. Sea oil gains
      193 2 Reuter LONDON, Wed. British Chancellor of the Exchequer Denis Healey last night warned the nation against misusing the benefits of North Sea oil. He also called on businessmen to ensure that the new elements of flexibility in pay policy after July were
      Reuter  -  193 words
    • Article
      Lock icon Green Paper on controls
      75 2 Reuter OTTAWA, Wed. The Finance Department said the government will make public next week Its Oreen Paper on ending wage and price controls. A senior official said the document Is expected to recommend a phased with- drawal as the best means of lifting wage and price
      Reuter  -  75 words
    • Article
      Lock icon PAINFUL PROGRESS FOR UK ECONOMY
      108 2 Reuter LONDON, Wed. Britain's economy is continuing to climb painfully slowly out of recession, according to figures Issued today by the Labour Government. The figures on Industrial Eroductlon showed that the [arch output for all Industries rose by about 0.25 per cent and In manufacturing
      Reuter  -  108 words
    • Article
      Lock icon When tax laws favour the unmarried couples in US
      704 2 NYT PARIS, Wed. The United States is one of six industrial countries where the tax system still appears to encourage sin: It charges married couples more income tax than couples living together would pay on the same income. According to a
      NYT  -  704 words
    • Article
      Lock icon WEST 'NO' TO HIGHER COPPER PRICE
      128 2 UPI GENEVA, Wed. The United States and European Economic Community yesterday flatly rejected demands by Third World countries for action at government level to raise the market price of copper. Supported by other major consuming countries, US and Community delegates at a United Nations
      UPI  -  128 words
    • Article
      Lock icon Stockpile tin sales
      60 2 Reuter WASHINGTON, Wed. The General Services Administration (GSA) said it sold 15 long tons of grade "A" tin from stockpile at U554.59 (SSI 1.30) per half kilo. The GSA announced on May 6, it received 301 tons of surplus grade "A" tin from another government agency which
      Reuter  -  60 words
    • Article
      Lock icon German tax revenues rise 13pc
      113 2 Reuter BONN, Wed. West German federal and state tax revenues rose 12.9 per cent; or nine billion marks (Sslo billion) in the first four months of 1977 over the year-ago period to a total of 79 billion marks according to provisional figures, the Finance Ministry
      Reuter  -  113 words
    • Article
      Lock icon Industrial output up
      61 2 Reuter PARIS, Wed. The French Industrial production Index rose by 1.6 per cent to 129 (base 1970) in March, following a revised 1.6 per cent fall in February, the Finance Ministry said. The Index, which excludes building and public works, showed a year-on-year rise of six per
      Reuter  -  61 words
    • Article
      Lock icon Dutch move to boost EEC summit role
      296 2 Reuter THE HAGUE, Wed. Dutch Foreign Minister Max van der Stoel will seek a pledge from his EEC colleagues this weekend to upgrade the Common Market's role in future economic summits like the recent one in London, officials said today. The two-day London
      Reuter  -  296 words
    • Article
      Lock icon Italy gets first part of IMF loan
      166 2 UPI ROME, Wed The International Monetary Fund (IMF) yesterday credited the Bank of Italy with US$lO6 million (SS26O million), the first Instalment of a $520 million standby loan it approved on April 25. Treasury Minister Gaetano Stammati said. Further instalments will come later
      UPI  -  166 words
    • Article
      Lock icon Forecast of GDP revised lower
      160 2 Reuter PARIS, Wed. Government experts now expect French real Gross Domestic Product will grow less than three per cent this year, compared with existing official forecasts of a 4.8 per cent rise, Informed sources said. This figure Is liable to be adjusted at a meeting
      Reuter  -  160 words
    • Article
      Lock icon France to borrow more
      70 2 Reuter PARIS, Wed. The 8.8 per cent 15-year French government loan due to be issued officially next Monday has been raised to eight billion francs (Ss4 billion) from six billion following heavy demand, primary bond market sources said. A Finance Ministry spokesman declined to comment but
      Reuter  -  70 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      251 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Housewives' Matinee Goodbye Darling (r) (Pt. 1 of a Mandarin film) 4.00 General Hospital 4.40 Intermission 6.00 P.M. Opening Announcements followed by Lassie Crisis 6.30 News in Brief 6.35 Warna-Warni (Malay) (r) 7.00 My Brother's Keeper The Early Pig Catches
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      51 2 THE WEATHER WEATHER report for 24 hour* prior to 7JO p.m. on May 18 at Singapore airport. Maximum Temperature 30J°C Associated Humidity M Minimum Temperature 22.7° C Associated Humidity 100 Hours of Sunshine 3.90 Rainfall in Millimetres 27.0 Total Rainfall for the Month 117.7 Total Rainy Days for the Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 3
      11 2 m 1 a Dictens 5 f9 'sOMFCV «te TO VJC/M? Tb
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      1594 3 WHh a Imputation for Unrivalled Security and FaSr Dealing ovar 131 years, Our Clients can be Aaaured... frtftl Royal Insurance m i m wpcwalM »■i BUSINESS TIMES looks after you. Fast 18th Fir.. Ocean Bui'ding, Collyer Quay, Singapore 1. Tel: ***** *****1. GaS has got a flame r M.C.(P) 300/1/77
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  • COMPANY NEWS
    • Article
      TCM earnings improve
      238 4 AS anticipated, Textile Corporation of Malaya is now going through more cheerful times. Net group profit for the nine months to Dec 31, 1976 amounted to M 5697,782. The group, which changed its financial yearend from March to December this year, achieved a net profit of only
      238 words
    • Article
      DIVIDENDS ANNOUNCED
      648 4 Current Ex Date Total for Total for payment Date payable the year previous year S. Steamship 34% Apr 27 May 19 34% 34% Easoord 13%TE Apr 12 May 20 18%TE 18%TE Euo Pref. 7%TE Apr 12 May 20 10%TE 10%TE Per lis Plant 10%e Mar 21 May 21
      648 words
    • Article
      Malaysian firms win irrigation contracts
      220 4 THREE Malaysian companies have been awarded engineering contracts worth Msl6 million for the West Johore irrigation scheme. Contracts for the jobs, involving drainage and irrigation works covering 37,636 hectares of land, were signed In Kuala Lumpur on Tuesday. The work Involves Improving the flow of
      220 words
    • Article
      Malayan Banking shares listed
      80 4 MALAYAN Banking's new 15 million MSI shares arising from its recent scrip issue of one-for-three will be officially listed on the Stock Exchange of Singapore on May 20. Since the new shares will not rank for any dividends to be declared by the company for its
      80 words
    • Article
      OCBC steps up drive to boost loan income
      1070 4 IN an attempt to break out decisively from the profit rut. In which It has lain for the past three years, Over-sea-Chinese Banking Corporation has stepped up efforts to gain a bigger slice of the loans market. "We have concerted our marketing
      1,070 words
    • Article
      Keck Seng's M$6m offer oversubscribed
      549 4 GENERALLY, Keck Seng's recent offer of six million MSI shares at par to the Malaysian public was slightly oversubscribed when applications closed on May 12. However, of the four million shares reserved for bumiputras and bumlputra organisations, bids were received for only 3,342,500 shares. The
      549 words
    • Article
      PEOPLE IN BUSINESS
      135 4 SIR lan McLennan will become the chairman of ANZ Group Holdings Limited and ANZ Banking Group Limited from Oct. 1 1977, the directors announced on Tuesday. As expected, Mr. Angus MacKinnon will step down as chairman of both companies from Sept 30 1977. Mr. MacKinnon will remain
      135 words
    • COMPANY MEETINGS
    • Article
      IMPROVEMENT IN JORDAN'S LOAN STATUS
      490 4 JORDAN, Tues. has suffered from economic depressions of one kind or another for most of the past ten years, but recent financing trends have begun to indicate that the country's borrowing status is Improving. Various Jordanian borrowers have announced four International loans in the past
      490 words
    • Article
      UK firm to set up base in KL
      380 4 M.K. Electric of UK. which manufactures electric wiring accessories, is to set up a Ms 2 million factory to manufactuure its products in Malaysia. Negotiations with local partners are currently underway on the formation of the new company, to be called M.K.
      380 words
    • Article
      CHICAGO BOARD OPTIONS
      1519 4 On May 17 TRADING in options on the Chicago Board Options Exchange came to 85,832 contracts on Tuesday compared with 86,975 contracts, on Monday. OPTION JULY OCT JAN STOCK Alcoa 50 8 5/8 8 5/8 UNTRD 58 1/2 Alcoa 60 1 5/8 2 3/8 3 1/2 58
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      158 4 I 'iUO H I iTiTJi arm i]: f »TO» MUM **M* ##®pc c c <? A b looste 3 I uu 0 0 0 has in addition a Mamory switch and Mic/Lina mixing facility Paak Laval Indicator. Teac's modern cassette tape-decks. With the latest technical specs. Engineered to the usual
      158 words
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  • Article
    Lock icon Schering plans to raise capital
    402 5 EUROPEAN COMPANIES Reuter WEST BERLIN, Wed. Schering plans to raise Its authorised but as yet unissued capital to 56.5 million marks from 16.5 million to ensure In advance funds are available for the takeover of Philips-Duphar, a 100 per cent subsidiary of Phillos Gloeilampenf abrieken,
    Reuter  -  402 words
  • Article
    Lock icon Generate to issue convertible bonds
    136 5 Reuter PARIS, Wed. Generale Occidentale plans to Issue 150 million francs of bonds convertible Into shares as soon as possible after receiving shareholder authorisation, sources close to the company said. The company may follow this with a further 50 million franc issue. OO's offer for
    Reuter  -  136 words
  • Article
    Lock icon Agip higher
    66 5 Reuter ROME. Wen Agip made a net profit of 2.21 billion lire on a turnover of 5.89 trillion lire in 1976 compared with 758 million lire on turnover of 3.92 trillion lire in 1975. Investments totalled 177 billion lire against 147 billion lire. The company, which is the
    Reuter  -  66 words
  • Article
    Lock icon Davy Powergas, USSR deal
    205 5 UK COMPANIES Reuter LONDON, Wed. Davy International unit Davy Povergas has signe d a contract worth US$25O million with Techmashimport of the USSR to supply two methanol plants. The plants will be built at Gubaha. Urals, and Tomsk, Siberia. Each plant will have a 2,500 tonnes
    Reuter  -  205 words
  • Article
    Lock icon Deutsche Bank Eurobond at par
    111 5 Reuter FRANKFURT, Wed. Deutsche Bank said the US$l25 million 4% per cent 10 year Eurobond with warrants being raised by Its Luxembourg unit Cle Flnanclere de La Deutsche Bank will be Issued at par. Each $1,000 nominal bond will have three warrants attached, altogether giving
    Reuter  -  111 words
  • Article
    Lock icon RTZ sells stake in Brazilian subsidiary
    90 5 Reuter LONDON, Wed. Rio Tinto Zinc (RTZ) said it received Brazilian Government permission to sell 36 per cent of RTZ subsidiary Mlneracao Vera Cruz to Companhla Vale Do Rio Doce. Mlneracao Vera Cruz holds concessions In the State of Para in which a large
    Reuter  -  90 words
  • Article
    Lock icon Int'l Harvester earnings fall
    214 5 NORTH AMERICAN COMPANIES Reuter OPERATING net earnings at Internationa) Harvester fell to U5557.64 million or 1.97 a share for the second quarter ended April 30, 1977 from $58.12 million or $2.04 a share previously. Sales, however, rose slightly to $1.56 billion from $1.48 billion. Consequently, operating
    Reuter  -  214 words
  • Article
    Lock icon Kaiser, Pakistan Steel contract
    94 5 Reuter KAISER RESOURCES has concluded a new long-term metallurgical coal sales contract with Pakistani Steel Mills of Karachi. President Mr. Edgar Kaiser Jr said the Pakistan company will buy between 1.3 million and two million metric tonnes of coal over a five-year period beginning in early
    Reuter  -  94 words
  • Article
    Lock icon Marginal profit increase at Pioneer
    244 5 ASIAN COMPANIES Reuter TOKYO, Wed. Pioneer Electronic made an aftertax profit 0f'5.34 billion yen on sales of 83.42 billion yen In the first half-year ended March 31, 1977 compared with 5.26 billion yen on sales of 74.71 billion yen previously. Consolidated net profit was 7.33
    Reuter  -  244 words
  • Article
    Lock icon Margin trading down
    84 5 Reuter TOKYO, Wed. The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo, Osaka and Nagoya stock exchanges as of May 14 fell to 809.7 billion yen from 817.4 billion yen a week before. The decline resulted from liquidations touched off
    Reuter  -  84 words
  • Article
    ANZ enjoys 26pc jump
    263 5 SYDNEY, Wed. Unaudited consolidated aftertax profit at ANZ Group Holdings rose 26.6 per cent to A 521.82 million for the first half-year ended March 31, 1977 from $17.24 million previously. After an extraordinary surplus of $667,000 ($1.07 million) from the sale of properties, consolidated net profit
    263 words
  • Article
    Lock icon Kaneito bankrupt
    105 5 UPI TOKYO, Wed. Kanelto, a medium-sized cotton and man-made textile wholesaler In central western Japan, went bankrupt with its debts amounting to about 7.5 billion yen a private credit research agency reported yesterday. The Tokyo Shoko Research Agency said the 16 million yen company in Nagoya has been
    UPI  -  105 words
  • Article
    Lock icon S.S. Kresge results on target
    193 5 Reuter S.S.KRESOE said first quarter results were on target with expectations and more favourable comparisons are expected for the rest of the year. Chairman Mr. R.E.Dewar said retail sales will be strong throughout 1977 and expects general merchandise demand to firm somewhat on the first
    Reuter  -  193 words
  • Article
    Lock icon 'Now' accounts issue
    595 5 WALL STREET TAKES CLOSER LOOK Reuter THE question of "now" accounts is one of the hottest Issues confronting the bank industry and Wall Street analysts are beginning to take a close look at its possible Impact on earnings. "Now" accounts, which permit consumers to write chequest drawn
    Reuter  -  595 words
  • Article
    Lock icon Manitoba offshore bond
    84 5 Reuter THE Province of Manitoba is considering an offshore bond Issue denominated Inated In Hongkong dollars although terms have not been finalised nor has a firm decision been made to proceed with the Issue, Manitoba Deputy Minister of Finance Mr. Charles Curtis told Reuters. Bond market sburces
    Reuter  -  84 words
  • Article
    Lock icon Taubman tops Mobil's offer
    81 5 Reuter TAUBMAN-ALLEN-IRVIN* ha said it raised Its offer for Irvine Co to U*****.2 million or $30 a share, topping Mobil's bid of $328.1 million or $38.75 a share. Furthermore, the Taubman group, which Is In a day-to-day bidding contest with Mobil, expanded its offer with a
    Reuter  -  81 words
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      Page 5 Advertisements Column 1
      322 5 T J V M '^■:3 U mb™ < s-,r<>* sc &<S£S* V ■iv vvoi'V f" FJ t *t i*s <* -v. szi ab i m i .v.sS, it <: X *> ,<t > S &&331 hmhhmh iilßM»m .MM* Royal Interocean Lines changes its name. From now on we shall be
      322 words
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  • Article
    Share Information Service
    2185 6 im Hfch Low COM pa ay Last Me +orur dW Dhr c'tt ur P/E V*1 <*•••> Day High Low 8BCTIONONK INDUSTRIALS 146 133 204 76 212 101 198* 163 219 392 136 127 204 58 212 57 155 152 182 350 Acma Acma A Alcorn Allied Choc
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  • Article
    Transactions in Singapore
    1357 6 "BID and offer prices officially hated and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word 'Sett." Big Board
    1,357 words
  • Article
    In Kuala Lumpur
    1284 6 BID and offer prices officially listed and business In and reported to Ue Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. INDUSTRIALS Alaam (1.808 1.858). A.M.O. (0.558). A.P.I. (O.SOB 0.628) <«) 0 63.
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  • Article
    Stock options
    79 6 STRIKING prices--of the ttock option* 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. DBS (June $3.90) (0.02B) Inchcape (June $2.40) (6.048 0.05' >S) (1)0.4'*, (1) 0.04. OUB (June $3.50)
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  • Article
    Unit trusts
    147 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' price* for May It) (Current price*) The Commerce .1 83 1.72 xd INCOME BOND .1.05 l.U The Saving Fund 0 88 0.04 S pore Prog Fund .0 .80 0.85 S"pore Security Fund 1.44 1.52 MARA BUMIPUTRA FUND (Manager*' price* for May
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  • Article
    BONDS
    114 6 Keppel 8 3/8% 1984 50,000) (99*«8 100Vi8) Orient Lcas iof 8 1/4* 1982 (50.000) (1018 101SS) 5 1/2% 1/4/78 (250.000) (101.408 101.553) 5 1/2% 15/4/78 (250,000) (101.358 101.555) 5 1/4% 15/7/78 (250,000) (101.458 101.555) 43/4% 1/5/79 (250,000)(100.70B 100.80SX3)100.78 7% 1/7/79 250,000) (104.658) 5 1/4% 15/10/79 (250,000) (101 70B) S
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      Page 6 Advertisements Column 1
      406 6 THE GREAT BOOKS of the beautiful, durable bindings la the jord of the fundamental Ideas of PkHI mm%MM lIhI W science, history, psychology, W VV%rl Mill# Here In beautiful, durable bindings Is the whole record of the fundamental Ideas of mankind science, history, psychology, mathematics, theology, literature and poetry. This
      406 words
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  • Article, Illustration
    QUIET TRADING
    394 7 TRADING conditions remained generally quiet and selective at the Stock Exchaage of Siagapore yeetarday. The asarket was still preoccupied with aseet of the third Users, which displayed a slightly improved trend during the morning soeaion. This preved shortlived as prefit-tahera sisrged in the afternoon On balance, the market
    394 words
  • Article
    KLSE RULES STEADY
    542 7 Generous price gains were recorded in fairly widespread trading as speculative buying support emerged on the Kuala Lumpur stock market yesterday. Except for a few recent counters such as Perak Carbide which continued to suffer from profit-taking and short selling, the market as a whole showed a
    542 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      354 7 HONOKONO: The market closed steady In quiet trading, after recovering m the afternoon from slightly lower levels In the morning, dealers said on Wednesday. The Hang Sena Index row 0.26 to close at 447.38. Swire Pacific was the main feature, closing unchanged at 99.20 after falling to around $9.00/10
      354 words
    • Article
      Tokyo
      515 7 1, TOKYO: Prices turned downwards, after a higher opening, on increasing liquidations In blue chips and populars, dealers said on Wednesday. The Dow Jones average lost 3.95 to close at 5,032.80 with volume 180 million shares. The New index closed at 377.43, down 0.14. Electrlcals were lower on expectations
      515 words
    • Article
      Sydney
      423 7 SYDNEY: The market rose strongly on Wednesday on news of BHP-Esso oil discovery In Bass Strait on Tuesday, dealers said. The Sydney All-Ordinaries index rose 3.86 points to close at 466.11 BHP closed 32 cents higher at 97.08, slightly below Its day's high, and most other stocks which rose
      423 words
    • Article
      Manila
      166 7 MANILA: The market drifted lover across the board In quiet trading, despite the rise In London gold and copper prices, with sellers dominating In the absence of favourable domestic news, dealers said on Wednesday. Total turnover fell to 2.27 million pesos from Tuesday's 2.31 million. Losers Included Atlas Coa
      166 words
    • Article
      Bangkok
      83 7 Asia nim lU \.\mm 2» uneh Ml -I 4418 Berll Jucker M -4 Charoonf Thai Wire 1588 Dumex DusitThani Faber Merlin First Trust Indo-Thal 1MB 4-2 Industrial Finance Corp 1M68 J And J Ho >14 Jalaprathan 11S ♦1Cement Karnasuta LeeKwanf Mln Metal Bos •.708 unch Rama Towers lias -2
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    • Article
      Amsterdam
      309 7 AMSTERDAM: The market closed slightly lover, dealers said on Tuesday. Dutch Internationals were mixed with Akao and UaiWrw slightly firmer and Philip and Royal Dutch edging lover. HoofovNi fell 0.10 guilders on news of Eatel'i slightly-larger first quarter loss. Banks fell Initially after the Central Bank announced credit restrictions,
      309 words
    • Article
      Brussels
      165 7 BRUSSELS: The market was generally lover In fairly active trading, dealers said on Tues/ntcrcom. Vieille MhU(m, Cockerill and Gevmart however were higher, while falls Included Societe Generate Cometra, Ac*, Union Miiliri, Unerg and Clabeeq. Solvay was little changed following Its sharply higher profits and dividend, which had been widely
      165 words
    • Article
      Frankfurt
      309 7 FRANKFURT: Shares closed mostly higher and around the day's hlgns, market sources said on Tuesday. In steels Msaaa—aaa gained 4.10 marks while In engineerings KHD rose 6.90 marks, and GHH 4.80 marks. In stores Karstadt led with a seven mark gain followed by KaaJhef with three marks. Utilities were
      309 words
    • Article
      Milan
      173 7 MILAN: Stocks turned mixed with some bright spots after the consecutive losses of the last six trading days, bourse sources said on Tuesday. Gainers Included MoatcdiMW and Olivetti privileged. mot. i liar* rose slightly following Monday's shareholders meeting and a statement by Coadottc D'Acqua chairman Carlo Carobi that he
      173 words
    • Article
      Paris
      338 7 PARIS: The market eased in quiet trading on Tuesday, with operators awaiting the outcome of the meeting of left-wing leaders, dealers said. The report by the Paris Chamber of Commerce and Industry that business activity slowed in April helped to depress Investors, thev added. Leading losses Included Sagemdewn, seven
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    • Article
      Zurich
      272 7 ZURICH: The market ruled generally steady In light volume, dealers said on Tuesday. Banks gained slightly apart from slightly lower registered stocks of Kreditanstalt and Bankverein. Financials were narrowly mixed while Insurances generally firmed except for easier Helvetia and Wiaterthur participation certlfl- cates small gains predominated leading Industrials led
      272 words
    • Article
      Jo'burg
      376 7 JOHANNESBURO: Gold shares eased throughout the day despite steady European bullion Indications, dealers said on Tuesday. Financial minings were mixed to softer with GFBA 35 centa off at 1550 and Aafe 15 hither at 795. Elsewhere. Be Bwi lost 11 cent* to 435 on London Interest. Coppers were unchanged
      376 words
    • Article
      Toronto
      326 7 TORONTO: The market closed mixed at the close of active trading with the composite up almost one point and declines leading advances 206 to 190 on Tuesday. Western Broadcasting B, the most active Issue, rose 7/8 to 111/8 on 490,001 shares while Western'! A shares fell 1-3/8 to 9-3/4
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    • Article
      New York
      1052 7 NEW YORK: The stock market, once again overcoming adverse pressures, pushed ahead over a broad front for the third straight session In active trading on Tuesday. The market began losing ground shortly after the opening as steel company stocks came under heavy selling pressure. Analysts blamed a bearish
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    • Article
      Indices
      62 7 FINANCIAL TIMES INDUSTRIAL Tuesday 468.2 Monday 466.7 Week ago 463.8 DOW JONES AVERAGE INDUSTRIALS Tuesday delayed Monday 93$.50 Week ago 936.14 LONDON DOLLAR PREMIUM Tuesday 121 to 121H Monday 120* to 120* H.K. HANG SENG Tuesday 447.12 Monday 448.85 Week ago 477.65 SYDNEY INDUSTRIALS Tuesday 373.78 Monday 372.87 Week
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      Page 7 Advertisements Column 1
      419 7 The Syntopicon now makes it possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, Justice or almost any topic conceived by the human mind. The Syntopicon can guide your hand to the proper volume. Your eyes are directed to the right
      419 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      674 8 OPENING quotations in the Singapore rubber market yesterday were unchanged but later prices fell back gradually to 194.25 cents traded for June on speculative selling and stale bull liquidation, dealers said. Physicals bids were moderate although sellers were reserved, they said. Turnover was small. The
      674 words
    • Article
      Closing prices
      31 8 Bobber: May 18; Singapore: June 194.75 eta (down 0.50 eta.) Malaysia: June 196.00 eta (down 0.50 eta) Tin: SI, 441 (down $4) Official offering: 230 tonnes (down 1 tonne)
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    • Article
      Produce prices
      283 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $100 sellers, old drum $105 sellers, new drum 1110 sellers. Copra: Mixed (loose) UK/Cont. $83 buyers. Pepper: Muntok AST A white f.o.b. 100% NLW J385 sellers. Sarawak white f ob NLW $365 sellers, Sarawak special
      283 words
    • Article
      Palm oil
      123 8 THE following palm oil prices we are elf Rotterdam and are quo ;re quoted In London on Tuesday The prices ted In US dollar per ton unless otherwise stated. Tuesday Prrv. Malaysia 5% f fa Ouik 664 sir Jul/Aug 668 sir Sumatra 5% May 680 sir 677.50 sir
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    • Article
      SSR and SMR
      99 8 R.A.S. Job* (Currant Mtfc) (F Buy orward Mtk) wi SCIIot* Buy en 8t0m <«*u iMrka) <c «nU par kj[) SSR20 l<» -ton Pallet) 192.50 193 SON 194.00 196 OON SSR50 (1 -ton Pallet) 100.00 191 .OON 191.50 192.S0N M.R.E.L.B. SMRSCV(1 ton Pallet) 218.00 220 00N 220.00 222
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    • Article
      Hongkong comex
      75 8 HONGKONG, Wed. Cotton futures drifted lower after a firmer opening, on lack of interest and uncertainty about price trends, dealers said. Losses ranged from 0.06 to 0.77 cents per lb. Turnover fell to 94 lots from 167 yesterday. HONOKONO cotton future* closing quotes on May 18 CVoainc Prevlou*
      75 words
    • Article
      Straits tin
      236 8 THE Straits tin price In Penang yesterday was down $4 to $1,461 on an official offering down 1 tonne to 230 tonnes. In LONDON yesterday, tin closed the morning £10, down for cash and £20 lower for Three Months in the standard contract. High grade lost £5 and
      236 words
    • Article
      Duty rates
      64 8 THE Malaysian Minister of Finance has fixed these rates for the period from May 29 until further notice: Rubber 90tt cents a lb Copra SI, 108.00 a ton Palm kernel $235.25 a ton The rates of duties payable are: Rubber 10 Y» cents a lb (total 16 cents)
      64 words
    • Article
      Gold
      288 8 IN the Singapore sold market yesterday the kilobar was traded in the range of S$U,7lO to $11,740 On the loco London basis the market opened at U*****.10/147.50 and eased towards the close at U*****.90/147.30. The London morning gold fix was U*****.85, down 95 cents on the previous fix. Source:
      288 words
    • Article
      Copper
      227 8 LONDON. Wed. Copper wire bars lost £6 per tonne for cash and £7 for Three Months In the morning. Values picked up on the premarket on some fresh buying and shortcovering against overnight physical business In the US with Three Months trading upto £842 per tonne. Some pricing sales
      227 words
    • Article
      Lead
      107 8 LONDON, Wed. Lead lost £8.75 per tonne for cash and £8 for Three Months in the morning. On the premarket, prices picked up from yesterday afternoon's lower kerb levels on some short coverIn^ Sales were 2,800 tonnes. On Tuesday afternoon, lead on the day fell by mostly £6.50 per
      107 words
    • Article
      Zinc
      108 8 LONDON, Wed. Zinc declined in the morning by £8 per tonne for cash and £7.50 for Three Months. After early premarket business In Three Months upto £382 per tonne, values gave ground with down to £354 paid In final ring and kerb dealings. Sales were modest at 1,700 tonnes.
      108 words
    • Article
      Silver
      163 8 LONDON, Wed. Silver finished the morning with losses of 2.4 to 3.0 pence per troy ounce. The market was subdued by the overnight decline at New York, easier gold this morning and the trend In base metals, trade sources said. Light covering prompted by the bullion dealers fix steadied
      163 words
    • Article
      Sugar
      314 8 LONDON, Wed. Terminal opened steady on trade buying and at the end of the opening call values were £0.40 to £1.25 per tonne above yesterday's 1700 hours levels. Sales totalled 508 lots. Dealers reported no fresh news to Influence sentiment. Quiet conditions persisted throughout the morning and prices eased
      314 words
    • Article
      Rice
      214 8 BANGKOK, Wed. Indicative prices for rice quoted In Bangkok yesterday were: (US dollars per tonne fob basis Bangkok) White Rice: 100 per cent Ist class 289 100 per cent 2nd class 274 100 per cent 3rd class 270 5 per cent 259 10 per cent 237 15 per cent
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    • Article
      Coffee
      330 8 LONDON, Wed. Futures closed an extended opening call with losses against last night of £75 to £35 per tonne. Lots traded totalled 116. Earlier, the market fell around £100 under local profit-taking and liquidation In reaction to yesterday's sharp rise. But scaledown buying at the lower levels emerged to
      330 words
    • Article
      Soybeans
      222 8 CHICAGO, Wed. Soybean futures yesterday closed with limit losses of 30 cents a bushel In old crop months. September was down 28 Vi cents and other new crop months were off 13Vi to 12 cents. Early easiness resulted when last week's large exports failed to generate significant buying Interest
      222 words
    • Article
      Wheat
      135 8 CHICAGO, Wed. Wheat futures yesterday finished a light trade with losses of 1% to Vt cent a bushel. Prices fluctuated to either side of Monday's close In mixed dealings but selling Increased late In the session when nearby soybean futures dropped for limit losses. Some early support was provided
      135 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      463 8 THE US dollar shot up by about 100 points against the Hongkong currency In the Singapore foreign exchange market yesterday. From the opening of HKS4.6B level, the dollar firmed successively through the day to around 14.69 following heavy demand for the US currency. The Increased demand was partly attributed
      463 words
    • Article
      Asian $ rates
      170 8 Asian rates ASIAN currency deposit Interbank rates u at clow on May IS US M liars (Spat) 7 days 8 3/18 8 1/18 1 mth .5 5/l« 5 V18 2 mths 5 5/8 5 1/2 3mths .5 1V16 5 11/18 Smths .6 vie 8 1/18 9 mthi 3/8 1/4 11
      170 words
    • Article
      Discount
      52 8 RANOE Of prk •es offered by dlscount house* on May 18 Overnight 1% to 3* Call deposit 3* Claaii Buy 3-Month Treasury bills 1 S 7/8 3- Month Banks bills 4 1/16 3 15/16 3-Month CD 4 5/16 4 i/a •-Month CD 4 1/2 4 3/8 Source: National Discount
      52 words
    • Article
      Euro $ rates
      108 8 Euro rates LONDON. Wed. Time deposit rates opened lower because of the Friday dealing technicality, dealers said, with little material change since In smah routine trade. Bhort dates were also basically steady. The seven days rate was quoted at 0K 6V4 com Dared with 5 7/16 5 5/16 reflecting the
      108 words
    • Article
      Treasury bills tender
      40 8 THE Monetary Authority of Singapore (MAS) Invites banks and discount houses to tender for $30 million 91- day Treasury Bills to be Issued from May 23 to May 27. Each tender must not be less than $250.000.
      40 words
    • Article
      London
      193 8 LONDON, Wed. The dollar drifted moderately lower against the mark in quiet opening trading with the easier trend reflecting general fears of a resurgence of Inflation In the US, dealers said. The yen firmed after news Japan's visible trade surplus hit a record high of $1.78 billion In April,
      193 words
    • Article
      New York
      148 8 NEW YORK, Wed. The dollar closed weaker yesterday against most currencies after a thin trading session, with its downtrend accelerated following news US housing starts fell 11 per cent in April, dealers said. The main interest in an otherwise featureless afternoon here centred on the Mexican peso, which
      148 words
    • Article
      Tokyo
      158 8 TOKYO, Wed. The US dollar for overnight delivery closed quietly easier at 277.50 yen, compared with 277.45 at the opening and 277.70 at yesterday's close. The US currency declined to 277.30 at one stage, reflecting a rise in the value of the yen abroad, but later firmed to a
      158 words
    • Article
      Hongkong
      130 8 HONGKONG, Wed. The US dollar rose to a four month high of HK54.8850/ 70 In late trading from yesterday's late 4.0750/ 70, dealers said. They said the US unit's further gains against the local currency, in contrast to Its fall In New York, followed buying apparently prompted by expectations
      130 words
    • Article
      Frankfurt
      31 8 FRANKFURT exchanges opening quotes on May 18 US 2.3533/43 Can 2.2478/98 UK 4.045/055 Neth 98.00/10 Swltz 93.40/50 Italy 2.854/884 France 47.51/81 Norw 44.88/74 Belg 8.517/527 Beig fin 6.510/520 Japan 0.8490/8500
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    • Article
      Minimum lending rates (in %)
      59 8 Minimum lending rates (in ACBC 6*1 First Chicago 6*. Algemene Bank 6* Citibank 6*4 Bangkok Bank 7 HSBC 7 Bank of America 6*« Indosuez 6*4 Bank of China 7 Malayan Banking Bank of Tokyo Mitsui Bank 6*4 Bank Negara Indonesia OCBC 6*4 7 OUB 6*4 Chartered Bank 6%. UCB 7
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    • Article
      Australia/ NZ
      53 8 AUSTRALIA/ NZ exchanges quoted on May 18 Australia: Sterling 0.6459/ 0.6389 US dollar 1.1065/ 1.1017 Ninety-day air mail buying rates: Sterling 0.6640 US dollars 1.1318 Ninety-day forward buying rates: Sterling 0.6422 US dollars 1.0948 New Zealand: Sterling 0.5596/ 0.5565 US dollar 0.9665/ 0.9565 Ninety-day forward rate: Sterling 0.5763
      53 words
    • Article
      Zurich
      46 8 ZURICH exchanges closing quotes on May 17 US 2.5208-5215 UK 4.3320-3345 Can 2.4075-4095 W Germ 106.86-92 Neth 102.62-70 France 50.89-93 Belg 6.97 1/4-98 Denm 41.93-96 Norw Unquoted Swed 57.83-86 Italy 0.2845-2847 Austria 15.00-15.02 Port 6.51-53 Spain 3.65 1/2-66 1/4 Arg 0.65-80 Japan 0.90 3/4-91 1/4
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    • Article
      Eurobond prices
      339 8 LONDON, Wed. Dollar bonds were basically unchanged to firmer for the higher coupon bonds In moderate turnover, dealers said. In first time dealing today the Sundstrand Finance International $25 million 8% per cent issue due 1987 priced at 99*4 opened around 98 Vi 99 then eased to 98
      339 words
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      Page 8 Advertisements Column 1
      221 8 FOULKS LYNCH-london in association with FEDERAL PUBLICATIONS is pleased to announce the inauguration of a local home study centre that will be of special benefit to all accountancy students in South East Asia. Combining the international experience of Foulks Lynch with the specialised local knowledge of Federal Publications, this new
      221 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Japanese shipbuilders in for tough times
      597 9  -  By COLIN CHEE JAPANESE shipbuilders both large and small are headed for hard times after the second half of 1977. A report In the latest Issue of the Sumitomo Bank Review says that the annual world orders for new ships, which topped out at
      597 words
    • Article
      Lock icon US postal service should adopt electronic mail system
      408 9 WASHINGTON, Wed AP THE mail zips across the United States electronically and Is delivered the day after it Is sent. For a higher charge, it can be delivered in hours. Farther In the future, a person can buy a small computer terminal
      AP  -  408 words
    • Article
      FORD RECALLS 8,200 FAULTY CARS
      116 9 LIVONIA. (Michigan), Wed. The Ford Motor Company has announced recalls of 8,200 cars dating back to 1969 Ford said It Is recalling 5,400 1969 model standard-sized Fords and Mercurys formerlv or now used by police to replace both front-wheel spindles. The company also said It
      116 words
    • Article, Illustration
      Gatwick uses Simplon Microlite
      51 9 TWO of the smallest portable units in the Simplon Microlite range being used at Gatwick Airport. Trailer mounted or portable floodlights are now being marketed world-wide by Simplon and aircraft on remote fields and emergency strips or at very busy airports can be serviced during the
      51 words
    • Article
      Lock icon US tourists visit Cuba
      81 9 Reuter HAVANA, Wed. The first group of American tourists to visit Cuba for 10 years landed here yesterday to an enthusiastic welcome from hundreds of Cubans lining the street outside Havana's port. The ship that brought them, the Daphne, also scored a first when It steamed
      Reuter  -  81 words
    • Article, Illustration
      IN PORT
      369 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Alaskan- Mall (after Bunga Teratai) 47 Frotabel* (2130 after Jlnsha) (Departure Draft 9.5 m) 46 Ibn Zaldoun (9KDY) (1200) 18 Marco Pok (1100) 42/43 Vesta (after Gloria Peak) 8/9 CONTAINER PORT Maersk Mondo B/50 N Tambang VII B/52 Tendo B/51 PASIR PANJANG WHARVES
      369 words
    • Article
      London freight market
      155 9 LONDON, Wed. Time charter business provided the bulk of activity yesterday on an otherwise quiet freight market. This centred on tonnage offering delivery in the western hemisphere. In the Mediterranean, Interbulk booked the 52,554-tonnes dw JalavlJaya at US$l.B5 per tonne dw for one east coast South America
      155 words
    • Article
      The first global bank computer service
      283 9 BANK of America has announced that with the addition of a fully operational connection to Tokyo, It now has the first worldwide, bank-operated computer utility service. The system, with terminals In Europe. North America, Latin America and Asia, allows all Its users simultaneous access
      283 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      566 9 ARRIVALS Service Local Operator Number Time From OA OA472 0005 SYD/MEL CPA CX003 0145 HKO MA6 MH682 0810 KCH PAA PA847 0830 SFO/HNL/GUM CPA CX710 1000 HLP SIA SQ211 1015 HLP OIA OA980 1030 HLP OIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES
      566 words
    • Article
      Ben Asia Container Service
      191 9 BEN Asia Container Service has been the only direct container service operating between Japan and Straits porta, in the last three years or so. Originally, this service was introduced utilising the 200 TEU container vessel Moira. Now, it has expanded with the replacement of "Moira" with
      191 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      154 9 i "On e 3 -i t A Saxon The All-American Desk-Top Plain Paper Copiers NOW AVAILABLE IN SINGAPORE Saxon is for those who want the latest in plain paper copiers for convenience of operation, versatility and economy. Saxon comes to you from the fourth largest plain paper copier manufacturer in
      154 words
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  • Article, Illustration
    Tips on jade investment
    642 10  -  By TAY SAI CHNG TO BE sale from evil spirits and to be sure of healthy kidneys buy Jade and keep it by you. That was the belief of the ancient Chinese. But some people less superstitious ana more financially motivated have a different reason for
    642 words
  • Article
    Lock icon On the verge of a breakthrough in theory of groups
    916 10  -  By LEE DEMBART NYT IN 1832, the night before a brilliant 20-year-okl French mathematician named Evarlste Galois was killed In a duel, he feverishly filled 80 pages with notes and proofs that solved a long-standing mathematical problem. His calculations laid
    NYT  -  916 words
  • Article, Illustration
    Bridging the generation gap with old products
    910 10  -  By SOH SIAM LOH THERE are many sick products around the stores these days. They live a twilight life on shelves and In stock rooms; some are clearly dying. Ignored by most shoppers; and others have already died, disappeared completely from the retail
    910 words
  • Article, Illustration
    Lock icon Study shows elephants are fast declining...
    821 10 NEW YORK, Wednesday NYT THE first scientific effort to assess the status of elephant populations throughout Africa has found that the earth's largest living land animal Is rapidly'declining In or has I disappeared from all but a few countries. With widespread illegal ivory hunting
    NYT  -  821 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      137 10 AND PENANG TOO! Rasa Sayang a haven of fun in the sun. You can feel the pleasant mingling of informality and hospitality, the exuberance of endless recreational amenities: sailing, swimming, water-skiing, tennis or golf; all the elegance of a well-appointed accommodation, and savour a delectable range of superb international cuisines.
      137 words
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  • Article
    Lock icon U.S. STEEL MAKERS TO AGITATE FOR GOVT PROTECTION
    932 11 UPI TOKYO, Wed. American steel makers soon will open a campaign to get the US government to protect them from rapidly rising imports of Japanese steel, sources In the Japanese steel Industry said today. It will come In the wake of a
    UPI  -  932 words
  • Article
    Lock icon Chile will cut foreign debt by year-end
    302 11 Reuter NEW YORK, Wed. Chile's foreign debt will fall five to 10 per cent by the end of the year from its present US$4.5 billion (Ssll billion) its alternate Governor to the International Monetary Fund and World Bank, Mr. Sergio Undurraga, said today.
    Reuter  -  302 words
  • Article
    Lock icon Takeover of Oil India talks
    229 11 AP NEW DELHI, Wed. The Indian government and Burmah Oil of Britain have completed preliminary talks bn the government's complete takeover of Jointly owned Oil India, Industry sources reported yesterday. Burmah Oil Is described as the last foreign petroleum concern operating in India. Burmah and
    AP  -  229 words
  • Article
    Lock icon Third World negotiator lauds Carter
    381 11 Reuter PARIS, Wed. The chief Third World negotiator at the North-South economic dialogue here praised Presldent Carter's sense of Justice yesterday and said he exerted a beneficial influence at last week's London summit of the Industrial democracies. Dr. Manuel Perez Guerrero told a news conference
    Reuter  -  381 words
  • Article
    Lock icon Congress hopeful of pushing energy bill through
    358 11 Reuter AP WASHINGTON, Wed. President Carter's energy package is clearly in trouble but Congress will pass a conservation programme House Speaker Thomas O'Neill said. The Democratic, Party leader made the prediction as Carter administration officials went through a second day of hard questioning
    Reuter; AP  -  358 words
  • Article
    Lock icon Increase in Iran's direct oil sales
    206 11 AP TEHERAN, Wed. The National Iran Oil Company (NIOC) announced yesterday that Iran's direct oil sales Increased to 2,224,000 barrels per day during the first fortnight In May compared with an average of 1,085,000 barrels per day In 1976. The Increase Is a result
    AP  -  206 words
  • Article
    Lock icon Pipeline almost ready
    131 11 Reuter LOS ANGELES, Wed. The pipeline segment of the trans-Alaska pipeline is 99.5 per cent complete, Edward Patton, chairman and chief executive of Alaska Pipeline Service Co said. Speaking at a news conference, Mr Patton said the pipeline should be ready for start-up In the latter part
    Reuter  -  131 words
  • Article
    Lock icon Carter 'no' to hike
    179 11 Reuter LOS ANGELES, Wed. President Carter said he is opposed to raising the price of newly discovered oil above the world selling price of about US$l3 (Ss32) a barrel. He said on a television interview show broadcast here that the world price is an adequate Incentive
    Reuter  -  179 words
  • Article
    Promise of exciting returns on Perth property
    236 11 ALTHOUGH moot Singaporean* are keeping well •way from p« oparty investment for the moment, international property consultants, Taylor Woodrow, appear undaunted by this fact. It has sent a representative, Mr. Richard Redknap, here to drum up interest in property Australian property that is.
    236 words
  • Article
    SUITS
    72 11 ROBOT Trading and Shipping (S) Pte Ltd. yesterday filed a suit In the High Court against Cross-World Navigational Services (S) Pte Ltd. for $80,500, allegedly due under an agreement. Thai Hong Brothers Co. filed a writ against Kool-Alr Engineering Pte Ltd. for $37,848.18, allegedly due for work done or
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    CONVENTION BYSPC
    55 11 THE Singapore Professional Centre (SPC) will hold a three-day convention starting on Nov. 25, at the Conference Hall. The convention Is expected to be attended by a total of 1,000 delegates from the SPC's 20 member associations as well as from the other four Asean member countries, namely
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    Getting ready for Chemasia show
    225 11 WORK on the first chemical and process engineering exhibition to be organised In this part of the world was yesterday launched simultaneously in Singapore, Europe and the united States. Scheduled for early 1979, Chemasia is expected to attract at least 300 international exhibitors and as
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    AUSTRALIAN PACT BOOSTS KL DAIRY INDUSTRY
    508 11 KUALA LUMPUR, Wed. A breakthrough In the negotiations and the subsequent signing of an agreement with Australia for the supply of cross-bred frleslan-sahiwal heifer calves from Australia will greatly boost Malaysia's expanding livestock Industry. A programme has been drawn for 2,500 heads to be
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    Fida woos investors
    187 11 KUALA LUMPUR. Wed. The Federal Industrial Development Authority's specific projects mission currently touring Australia with the Malaysian trade and Investment promotion mission is concentrating its efforts In encouraging Australian investments in agrobased Industries. It will sell rubber and timber-based industries, food Industries, such as beef and dairy
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    Lock icon Blumenthal says budget deficit will be smaller
    605 11 Reuter AP WASHINGTON, Wed. Treasury Secretary Michael Blumenthal estimated the US budget deficit for this year will be about US$45 billion dlrs (SSIIO billion), about $4 billion smaller than projected, less than a month ago. On April 22, the government estimated the deficit
    Reuter; AP  -  605 words
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    Lock icon US housing starts fell in April
    187 11 Reuter WASHINGTON, Wed. US housing starts fell by 11 per cent to a seasonally adjusted annual rate of 1.88 million units in April from a downward revised 2.11 million in March, the Commerce Department said. Originally, the March rate was reported at 2,130,000 units
    Reuter  -  187 words
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    Lock icon NY needs aid for some time
    315 11 Reuter WASHINGTON, Wed. Treasury Secretary Michael Blumenthal said some form of federal assistance for New York appears necessary after the current federal loan programme expires. Mr Blumenthal, In testimony before the Senate Banking Committee, was not definite on what form that assistance might take,
    Reuter  -  315 words
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    Lock icon Big drop in Aussie foreign car imports
    277 11 UPI SYDNEY, Wed. Imports of foreign cars to Australia dropped sharply during April figures released yesterday by the Bureau of Statistics showed. The bureau report showed the number of imported European and Japanese cars fell by 25 per cent compared with the figures
    UPI  -  277 words
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    Lock icon Capital flows reverse in first quarter
    290 11 Reuter AP WASHINGTON, Wed. US capital flows shifted markedly In the first quarter, reversing year-end 1976 movements, the Commerce Department said. In the first quarter, there was an inflow of US$3.4 billion (SSB.4 billion) following an outflow of $9 billion in the fourth quarter
    Reuter; AP  -  290 words
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    Lock icon U.S. TREASURY AUCTION
    79 11 Reuter WASHINGTON, Wed. The Treasury Department said it will run down US$9OO million (552,200 million) in debt at the regular weekly auction of short-term bills on Monday. Treasury said it will sell $2.1 billion worth of threemonth bills and $3.2 billion worth of six-month bills to redeem
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      207 11 APPOINTMENT W A well established major transnational electronic company requires an experienced Bumiputra marketing executive for Malaysian operations. The successful candidate will have the foßowing characteristics: a university degree, age in his early 30's. confident and excellent written and spoken English. He should have 2-3 years management experience and a
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    Lock icon MYSTERY OF $7m MISSING CERTS
    268 12 AP SAN FRANCISCO, Wed. A messenger carrying US$3 million (557.4 million) worth of "bearer" certificates of deposit from one London bank to another has reported they vanished while he was riding a London commuter train, Crocker Bank reported yesterday. Public Information officer Terry Mclnnes said
    AP  -  268 words
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    Lock icon No problems over signing of tin pact
    201 12 Reuter LA PAZ, Wed. Bolivian Mines Ministry sources discounted the possibility that Bolivia has any hidden Interest In not ratifying the fifth International Tin Agreement, which It has officially announced It will sign. "That decision was taken at the highest level and there
    Reuter  -  201 words
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    Lock icon 'Gold supply to rise 50 tonnes this year'
    161 12 Reuter NEW YORK, Wed. Citibank said its current projections show total gold supply in 1977 rising 50 tonnes to 1,505 from an estimated 1,455 in 1976. The higher supply is mainly the result of an expected increase In central bank sales. Including
    Reuter  -  161 words
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    Lock icon Rate dips
    46 12 Reuter TOKYO, Wed. The average contracted Interest rate for lendings by Japanese city banks fell 0.114 percentage points during April to 7.788 per cent from 7.902 per cent In March, when It declined 0.041 percentage points from February, the Bank of Japan said. Reuter
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    LONDON STOCKS
    834 12 LONDON Wed. The stock market closed generally higher in selective buying Interest. At 3.00 pm the Financial Times Index was up 7.2 at 475.4. Government stocks were higher by around W point In longs and shorts put oh W to Some leading industrials finished slightly below the day's
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    LYC move to bring Batu Matang home
    951 12 CHAIRMAN SEEKS ADVICE WITH almost all the shares of Batu Matang Rubber Plantations (1932) Ltd committed to Its takeover bid price of 115 pence, LYC Securities, the small Malaysian company which outbid giant Consolidated Plantations for the rubber company nearly three weeks ago,
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    Lock icon Terms for Swire takeover settled
    124 12 Reuter HONGKONG, Wed. Terms have been agreed for the proposed takeover of Swire Cheung Development Co Ltd by Swire Properties Ltd, Hambro Pacific Ltd and Wardley Ltd said as financial advisers to the two companies. They also said In a statement the ordinary shares of
    Reuter  -  124 words
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    Prospects for chemical trade
    115 12 AMONO the South-east Asian countries, Singapore offers the brightest prospect for chemical trade with Korea despite keen competition. Mr. 800 Keun Kim, leader of a nine-man Korean chemical mission said Korea currently exports about (Ss22l million) worth of chemicals out of a total of US$7.5 billion
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    Commodity markets bright
    106 12 NEW YORK, Wed. Merrill Lynch, the world's largest securities company and the leader in commodities futures trading, has predicted strong commodity markets this year. Its report indicates that 1977 will be "basically an uptrend year," marked, however, by often '•volatile" prices. The Merrill Lynch analysts believe that
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    7,700 road deaths
    52 12 MANILA. Wed. Traffic accidents caused 1.13 billion pesos (***** million) damage and took 7,761 lives between 1905 and 1976, the Safety Organisation of the Philippines, said today. Its president. Colonel Jose Regala, said the Constabulary Highway Patrol Oroup (CHPG) figures for the period showed 137,790 lnjutiries in
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    Lock icon Opec funds mainly invested in West
    293 12 Reuter WASHINGTON, Wed. Oil exporting countries have amassed, in about four years, financial surpluses of up to US$l45 billion (***** billion) which have been Invested mostly in the US and Europe, according to the Treasury Department, statistics contained in a State Department letter show.
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    Pertamina signs oil exploration accord
    343 12 JAKARTA, Wed. The state oil company Pertamlna and the Calaslatic and Texaco Oil Co. of the United States signed an agreement today on oil exploration In Pertamlna's concession area offshore from Irian Jaya, Mr. Plet Haryono, Pertamlna's president-di-rector, said. Mr. Haryono told reporters that Caltex,
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    Lock icon More wells expected to be discovered
    209 12 UPI MANILA, Wed. Oil exploration activities off Palawan island on the Western flank of the central Philippines could possibly lead to "significant oilfields" within the next four months, an official of the Philippine Petroleum Association said today. Mr. Jose de Venecia Jr., president of
    UPI  -  209 words
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    Improving public relations of SMA members
    381 12 THE Institute of Public Relations in Singapore (IPRS) and the Singapore Manufacturers Association (SMA) yesterday agreed to cooperate to help Singapore manufacturers improve their public relations. lliey have agreed to cooperate in the production of a booklet instructing SMA members on the finer points
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    Lock icon Sugar deal margin raised
    98 12 UPI TOKYO, Wed. Margin requirements on sugar contracts In Tokyo have been raised to curb speculative trading by private investors, market officials said today. The decision, which went into force yesterday followed turbulent price fluctuations over a period of weeks on commodities markets here. Market sources
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    Standstill at Vosper
    69 12 PRODUCTION at Vosper Thornycraft shipyard came to a standstill when its 200 daily-rated workers reported sick yesterday in protest against the dismissal of a colleague by the management. The workers, all members of the Singapore Manual and Mercantile Workers Union (SMMWU), said the dismissal was unjustified The
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    Contract cleaners cash in on building boom
    587 12 CONTRACT cleaning, though relatively new to Singapore, has become a very lucrative business over a short span of three to four years so lucrative, in fact, that many new companies are Jumping onto the bandwagon, eroding the profit margins of the older and
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    Lock icon Japanese GNP growth gains momentum
    562 12 Reuter TOKYO, Wed. A senior Economic Planning Agency official said Japan's real gross national product growth In the first quarter of 1977 Is estimated at 1.5 per cent compared with the last quarter of 1976. The rata Is expected to speed up to close to
    Reuter  -  562 words
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    Lock icon Record $2b orders for machine tools
    83 12 Reuter TOKYO, Wed. Orders received by Japanese machine tool builders during fiscal 1976 rose 61 per cent to a record 242.45 billion yen (Ss2.l billion) from 150.73 billion yen the previous year, the Japan Machine Tool Builders Association said. Orders from domestic users rose
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    Lock icon Exports to China fall 32 pc in first quarter
    202 12 Reuter TOKYO, Wed. Japan s exports to China between January and March this year fell by 32 per cent to U*****.7 million (551.02 billion) compared with the same quarter last vear, the Japan External Trade Organisation (Jetro) said. But imports from
    Reuter  -  202 words
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    Two S'pore firms link up to form Getz Corp
    224 12 TWO Singapore companies, Muller and PJilpps (Far East) and Oetz Bros, have amalgamated under the name of Oetz Corporation (Singapore) Sdn Bhd. Muller and Phlpps managing director Mr. Danny Cheng, said his company was acquired by Trans Union Corporation of Chicago
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      165 12 Improve office and factory efficiency with IHi ;H6a3l?ifiFT water coolers No longer a luxury but a 'must'. Phone .0.0 PTE LTD A MttOt of Th» Wopi Grot*} gats 4!' fori fj 1 W. i H;1 i'i I' in ACCOUNTANCY with FOULKS LYNCH Founded over a century ago, Foulks Lynch the
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