The Business Times, 28 May 1977
1977-05-28
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The Business Times
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Title Section10 1977-05-28 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, MAY 28, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article58 1977-05-28 1 Reuter PATTAYA, Fri. Labour ministers from Asean today agreed to exchange information and laws relating to labour, Thai Interior Minister Samak SundaraveJ said tonight. He said the meeting also agreed on an Asean "Joint attitude" to be proposed at the meeting of the International Labout Organisation (ILO) scheduledReuter - 58 words
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Article85 1977-05-28 1 Reuter JAKARTA, Fri. The recent dialogue between Asean and Australia in Solo, central Java, had not removed the great information gap, particularly on trade between them, In formed sources said today. Sources said the Australian side thought the Asean states had not taken full advantage of allReuter - 85 words
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Article58 1977-05-28 1 Reuter HONGKONG, Fri. North Korea said today It has no Intention of invading South Korea following the withdrawal of American troops there, the North Korean Central News Agency reported today. The agency, quoting Pyongyang's official dally, Rodong Slnmun, also declared that the country will solve theReuter - 58 words
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Article63 1977-05-28 1 KUALA LUMPUR, Fri. Housing and Village Development Minister, Datuk Michael Chen, said tonight there are indications that the housing Industry will pick up in the near future. The construction industry, especially the private sector, has not only recovered from the effects of inflation and recession but is63 words
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Article91 1977-05-28 1 LABUAN, Frl. The big build-up of oil rigs on Shell companies' off-shore concessions in Borneo Is continuing. According to the latest figures, there Is now a total of 11 oil rigs operating for Sabah Shell, Sarawak Shell and Brunei Shell. As a result of Increasing activities, Petronas91 words
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Article103 1977-05-28 1 NEW YORK, Frl: —-Prices today sought direction ls traders and Investors were somewhat confused by two developments at the opening bell a prime rate rise announced by Citibank, which several other banks emulated, and a government report showing the leading economic Indicators rose In April. The Dow Jones103 words
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Chief Price Changes
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Article106 1977-05-28 1 Rites Most octivc C. Sugars 2.70 K. Kampar 2.40 NewS'dah 2.60 P. Carbide 1.14 Pacific Dev. 1.80 Cen Securities 1.20 A. Choc 0.86 Loytape 0.67 M.U. Industries 1.50 OCBC 6.70 8.P. Textile 1.22 A. Hltam Rubber 1.40 Falls Tronoh 3.24 M Containers 1.14 .20 +.20 +.20 +.19106 words
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Article, Illustration189 1977-05-28 1 RENEWED speculative buying raised selected lowerpriced shares higher in active trading on the Stock Exchange of Singapore yesterday. Substantial gains recorded by market favourites like Central Sugars, Perak Carbide, Pacific Development and Central Securities pushed the Business Times index up by 11 points to 279.20. However, interest189 words
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778 1977-05-28 1 COLIN CHEE - YES, TOKYO WILL SPONSOR By COLIN CHEE JAPAN yesterday announced that it would sponsor Singapore's long awaited $2 billion petrochemical complex, ending the uncertainty which had been hanging over the project for at least two years. The Japanese Ministry of International Trade and Industry778 words
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Article130 1977-05-28 1 Reuter KUALA LUMPUR, Frl. Mr Robert Oakley, an Asian expert In the Carter Administration, said here today that stability in Southeast Asia could be threatened unless the noncommunist nations of the region reached at least a minimum agreement with the communist Indochina states. He said thereReuter - 130 words
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Article139 1977-05-28 1 AP TOKYO, Fri. Japan Gasoline and C. Itoh, both of Japan, said today they have signed a 142,000 million yen (551.25 billion) contract to provide Algeria with a gas processing plant and related equipment. Japan Gasoline officials said the plant would have an annual capacity of fourAP - 139 words
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Article, Illustration651 1977-05-28 1 TRADE Unions In the developing Asean nations have vital contributions to make toward* the economic stability and progress of their countries But, Mr. Ong Pang Boon, Singapore's Labour Minister stressed that the role of trade unions In this region is strictly one651 words
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366 1977-05-28 1 TWO leading American banks yesterday raised their prime lending rate by a quarter point to 6*« per cent choosing to Improve their profit margins rather than toe the line indicated by the Carter administration. Though they have set the ball rolling, some of the366 words
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Article207 1977-05-28 1 Reuter TOKYO, Frl. The Japanese Finance Ministry Is considering plans to allow six Japanese banks to Issue negotiable certificates of deposit In Asian Currency Units In Singapore. The Singapore government has recently opened the way for placing such CDs and the Japan banks wish to do so.Reuter - 207 words
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Article, Illustration262 1977-05-28 1 DESPITE the generally easier conditions ruling at the Stoch Exchange of Singapore this week, the Business Times index yesterday shot up by 11 points to 279.20 as speculative interest on third liners took on renewed vigour. This is the highest single day rise this262 words
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458 1977-05-28 1 MORIMOTO Manufacturing of Japan Is switching the entire production of its standard industrial sewing machines to Singapore as part of the firm's expansion plans for the next five years. This was revealed by Mr. T. Morimoto, president of Morimoto Manufacturing (Japan) during a press458 words
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Article149 1977-05-28 1 WEARNE Brothers yesterday reported a hefty 81.8 per cent rise in group pretax profit to $13.26 million for the firs: half-year ended March 31, 1977. Stringent control of operating costs coupled with better sales in Peninsular Malaysia were the factors cited by the motor dealers for the better149 words
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Page 1 Advertisements
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Advertisement58 1977-05-28 1 /-< 'f niir He Sel< < /< il <,< m DuimnnJs A I <cfui~iitt Jt \lujimUt i nl Crjft rridH'hip < J* iCC I IMI CtyUxiJeweUers 16 Stamford Ad.. ttnaMWn Tdl: *****8/*****7. SEE THIS PAGE Market Reviews TV ft Oversees Stocks Sadie -P2 Ciiisiilttos Oversees News P3 Lecel Co News58 words
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Advertisement97 1977-05-28 1 »a» 8" fiUH Braun Synchron Plus Braun's Synchron Plus. For the man who must have a closer, smoother, faster shave than any other shaving system can give. The exclusive features of this shaver include: Tissue-thin super-flexible electro-formed nickel foil. Has unique pattern of cutting holes and slots. Platinum-coated to give97 words
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Advertisement222 1977-05-28 1 m >~&)+~._+|$",\\)|:'^]_-[$~<@"-. Calling all Industrialists Factory premises for sale Small Factory In Jurong Large Factory In Jurong Prime Location Leng Kee Road Industrial Sites Upper Thomson Road Terrace Factories Upper Thomson Road Covered area 1,439 sq. m. 30 years JTC lease from December 1973. Fitted with 10 ton "Demag" overhead222 words
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MARKET REVIEWS
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Article469 1977-05-28 2 APART from the handful of speculative shares, which continued to make substantial advances, the Kuala Lumpur stock market generally ruled easier In quiet trading this week. Even the handsome gains recorded by the few lowerpriced shares came towards the end of week, especially yesterday when renewed speculative buying469 words
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292 1977-05-28 2 ARTHUR NG - CompHtd by ARTHUR NG Morgan Guaranty Trust announced that the rate of interest payable on UOB US$25 million Floating Rate Notes is seven per cent per annum for the period May 24, 1977 to Nov 11, 1977. Dah Yung Steel and Kindol292 words
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719 1977-05-28 2 IVAN FALLON - LONDON ■r IVAN FALLON THERE was significant shift in the London Financial markets this week, most of it echoing the tidings coming out of Wall Street with greater insistence for the past month. Although a promise of the end of dividend restraint on Tuesday gave719 words
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Article254 1977-05-28 2 APPLICATION lists opened in London and Hongkong last Wednesday for the offer for sale of Swire Properties and the Indications are it Is going to be at least five times oversubscribed and perhaps even more. The lists close on Wednesday (June 1) and dealings In the 55254 words
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Article453 1977-05-28 2 SIR James Goldsmith, like his friend Tiny Rowland, cannot stay out of the limelight for long. Last week, he returned from a week-end In Spain to launch a new bid for the 49 per cent minority Interest in Cavenham not already owned by his master company, the453 words
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Article249 1977-05-28 2 Reuter LONDON. Frl. The British Government Is still considering exactly how It will dispose of part of Its holdings of British Petroleum shares to reduce Its stake to 51 per cent, Financial Secretary Joel Barnett told Parliament In answer to a question. IncludingReuter - 249 words
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Article25 1977-05-28 2 Reuter FRANKFURT. Frl. Commerzbank said the Norsk Hydro 150 million mark 6*« per cent 12 year Eurobond was priced at 99.25 per cent. ReuterReuter - 25 words
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Article648 1977-05-28 2 SINGAPORE CENTRAL Sugars remained very much in the speculative limelight on the Stock Exchange of Singapore this week. Apart from several other firm spots, the general market bore an easier tendency. A considerable short interest is believed to exist in this particular counter. And by the648 words
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Article414 1977-05-28 2 Reuter THE release on Wednesday of the Fox report on uranium clipped uranium stocks which had risen sharply in anticipation, dealers said. Pancontlnental fell $1.20 on Wednesday but Queensland Mines rose fifteen cents on the day and Kathleen two cents. When the market opened on Thursday morning, Pancontlnental fellReuter - 414 words
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Article115 1977-05-28 2 Reuter VADUZ (Liechtenstein), Frl. Flnanz Und Vertrauenshandelsansalt opened bankruptcy proceedings, payments commissioner Herbert Batllner said. The company's payments difficulties were cited by the Swiss Federal Banking Commission for the closure earlier this year of Weisscredit Banca Commerclale E d'lnvestlmenti of Lugano. The Liechtenstein company was grantedReuter - 115 words
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Article118 1977-05-28 2 Reuter GENERAL FOODS expects higher earnings in the first quarter of fiscal 1978 and continued momentum in the full year. In the 1976 first quarter, the company earned US$l.O6 a share on sales of $1.15 billion. Yesterday It reported net earnings of $177.3 million or $3.56Reuter - 118 words
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Article35 1977-05-28 2 UNION PACIFIC expects a strong earnings performance In 1977, president Mr. James H. Evans told analysts. Union Pacific is confident its potential growth rate is greater than that of the overall economy.35 words
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222 1977-05-28 2 Reuter LONDON, Frl. Financial Secretary Robert Sheldon said from Aug 31, any permission for the sale of foreign currency securities held by British residents out of the custody of an authorised depositary will be given only if the sale Is made without the ownerReuter - 222 words
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152 1977-05-28 2 Reuter LONDON, Frl. Industry Secretary Eric Varley said he authorised British Leyland to continue Its Mini replacement Investment programme, provided the company's Industrial relations Improve. Mr. Varley told Parliament he has authorised the National Enterprise Board (NEB), which holds the government's 95 perReuter - 152 words
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Article104 1977-05-28 2 Reuter MEXICO CITY, Fri. Pemex, the Mexican state oil corporation, expects to borrow between US$B billion and $9 billion by 1982. almost all from US and other foreign banks, Pemex sources said. This sum, about twothirds of its total investment programme, would be a major factor InReuter - 104 words
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Page 2 Advertisements
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Advertisement497 1977-05-28 2 Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most powerful supra-national government, in the world today. This book is about the efforts of poor nations to gain some control over their own economies and the role of IMF in frustrating these efforts. A497 words
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Page 2 Miscellaneous
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Miscellaneous280 1977-05-28 2 SINGAPORE 5 1.00 PM Opening followed by Sesame Street 2.00 Saturday Matinee Erica 3.15 World Cup Soccer Singapore vs Thailand (repeat) 4.15 Sandiwara Ayah (repeat) 5.00 Emergency Firehouse Quintet 5.45 Classic Keystone Comedy Capers 5.55 34TH World Tabletennis Championships 77 Women's Singles Final 6.30 News in Brief 6.35 Huckleberry Hound280 words
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Miscellaneous53 1977-05-28 2 THE WEATHER I WEATHER report for 24 hours prior tu 7.30 p.m. on May 27 at Singapore airport. Maximum Temperature 31.7° C Associated Humidity 69 Minimum Temperature 24.1° C Associated Humidity >3 Hours of Sunshine 5.90 Rainfall in Millimetres NU Total Rainfall for the Month 117.7 Total Rainy Days for53 words
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OVERSEAS
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Article, Illustration622 1977-05-28 3 WASHINGTON, Friday Reuter SAUDI Arabia and the United States are likely to contribute 2.5 billion special drawing rights (SDR's) or about US$2.9 billion (Ss7 billion), each to the new Wltteveen facility, Informed monetary and diplomatic sources said. The sources said theReuter - 622 words
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616 1977-05-28 3 Reuter NEW YORK, Frl. The fact that credit markets held steady in late trading despite a US$l.4 billion (Ss3 billion) Increase in the United States money supply during the May 18 week led to suggestions by analysts that recent apprehension over monetary policy may beReuter - 616 words
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Article109 1977-05-28 3 Reuter CHICAGO, Fri. US district court Judge Frank Mcgarr ruled late yesterday afternoon that the Commodity Futures Trading Commission (CFTC) will take depositions In Dallas from Hunt family members and a representative of a corporation they control. "rhe CFTC has requested that the HuntsReuter - 109 words
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117 1977-05-28 3 Reuter ROME, Frt. The Italian Treasury has authorised the Issue of 176.35 billion lire worth of 10 per cent 1977/88 special credit certificates at 85.06 per cent with tax exemption applied to public loan Issues to cover part of the necessary finance to salvage theReuter - 117 words
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469 1977-05-28 3 Reuter NEW YORK, Frl. The director of the Federal Office of Management and Budget, Mr. Bert Lance, said yesterday 4ie did not believe a further Increase In the prime lending rate was Justified by current economic circumstances. Mr Lance, here for aReuter - 469 words
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189 1977-05-28 3 Reuter MUNICH, Fri. The present state of W«*t German industry dees set foreshadow a return to the dynamic powtk seen at the start of the economic recovery, the IFO economic research institute said. Nor is it likely to initiate Creator spending on enlarged plantReuter - 189 words
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383 1977-05-28 3 Reuter WASHINGTON, Frl. The Assistant Treasury Secretary for International Affairs, Mr. Fred Bergsten. urged West Germany and Japan to run current account deficits to help the international payments adjustment process. Mr. Bergsten told a press briefing such a shift wasReuter - 383 words
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95 1977-05-28 3 Reuter LONDON, Frl. UK capital spending rose slightly to a provisional £951 million (553.804 million) In the first quarter of 1977, at 1970 J trices and seasonally adusted, from £944 million In i the fourth quarter 1976 and £914 million in the first three monthsReuter - 95 words
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166 1977-05-28 3 Reuter LONDON, Fri. British Chancellor of the Exchequer Denis He&ley maintained that the proposed two percentage point cut In standard Income tax to 33 per cent Is conditional on achieving a satisfactory pay agreement from August. Questioned In Parliament on suggestions theReuter - 166 words
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Page 3 Advertisements
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Advertisement270 1977-05-28 3 WMM) 1927-1977 T I li" 1 THE 50TH ANNIVERSARY VOIVO YOU CANT BUY IT BUT YOU CAN STILL OWN IT HERE'S HOW To celebrate their 50th Anniversary, VOLVO are producing a limited number of special-edition 'Anniversary' VOLVO 264. Singapore has been allocated one. Only one! You can see it on270 words
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COMPANY NEWS
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COMPANY MEETINGS
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24 1977-05-28 4 THE following company meetings are due: May 27, 10.30 a.m., Registered Office, No. 31, Shipyard Road, Jurong Town, Singapore 22.24 words
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Article17 1977-05-28 4 May 27,11 a.m., 18th Floor, Conference Hall, Apollo Hotel, 405 Havelock Road, Singapore 3.17 words
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16 1977-05-28 4 National Iron Steel Mills Ltd.: May 26, 2.30 p.m., DBS Building, 6 Shenton Way, Singapore 1.16 words
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Article13 1977-05-28 4 May 27, 12 noon, Registered Office, River Valley Road, Singapore.13 words
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Article17 1977-05-28 4 May 30, 2.30 p.m., Straits Trading Building, Leboh Pasar Besar, Kuala Lumpur.17 words
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Article18 1977-05-28 4 May 31, 9.30 a.m., Registered Office, at the Shipyard, Admiralty Road East, Sembawang, Singapore 27.18 words
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Article15 1977-05-28 4 May 31, 12 noon, Ist Floor, Maritime Building, Collyer Quay, Singapore 1.15 words
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Article15 1977-05-28 4 May 31, 12 noon, at DBS Theatrette, DBS Building, Shenton Way, Singapore 1.15 words
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Article18 1977-05-28 4 June 2, 11.30 a.m., Room 404, ENE-PLAZA (4th Floor), 128 Jalan Pudu, Kuala Lumpur.18 words
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Article19 1977-05-28 4 June 3, 10.30 a.m., 4th Floor, U. 0.8. Building, 1 Bon ham Street, Singapore 1.19 words
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Article18 1977-05-28 4 June 3, 10.45 a.m., 4th Floor, U. 0.8. Building, 1 Bonham Street, Singapore 1.18 words
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Article15 1977-05-28 4 June 3, 12 noon, 14 Jalan 223, Section 20 A, Petaling Jaya.15 words
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Article18 1977-05-28 4 June 4 10 a.m., 6th Floor, Tat Lee Building, 63 Market Street Singapore 1.18 words
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318 1977-05-28 4 A STRONG second halfyear enabled Allied Chocolate Industries to make an unexpected turnround in the vear ended Dec 31,1970. The group posted a pretax profit of $821,802 last year compared with a loss of $2.66 million In 1975. In fact, the entire year's earnings were318 words
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394 1977-05-28 4 BOUSTEADCO Slgapore 1s to merge Its two Australian subsidiaries, wholly-owned Boustead Pty and 61.5 per cent owned Boustead Unochrome. The new company, called Boustead Australia, will be 85 per cent owned by Bousteadco while the balance will be offered to the Australian public. Explaining the394 words
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Article737 1977-05-28 4 Curmt Ex Data Total for Total for payment Data payable the year previous year Dunlop Ind 21.5% Apr 20 May 27 27.5% 22.5% K. Kella* Tin 400% May 4 May 27 500% 250% Ajinomoto 12%TE May 4 May 28 12%TE 8%TEa Intraco 10% Apr 27 May 28 10%737 words
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Article1262 1977-05-28 4 On May 26 TRADING In options on the Chicago Board Options Exchange on Thursday came to 72,445 contracts compared with 81,090 contracts on Wednesday. OPTION JLY OCT JAN STOCK Alcoa SO 7 73/8 81/1 969/8 Alcoa 90 3/4 1 3/4 29/8 569/8 Am Tel 96 81/2 NOL1,262 words
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Article216 1977-05-28 4 THE Three sister comE antes Golden Hope, ondon Astatic Rubber and Produce and Patallng which recently merged Into the giant Harrisons Malaysian Estates (HME) have now despatched formal notices of acquisition to the small number of shareholders which have yet to agree to the merger. Under216 words
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Article171 1977-05-28 4 HOTEL Royal Ramada has announced the appointment of Mr. Joaia Pong Zia Kok as alternate director to Dr. Chua Sui Meng. Mr. Lim Tiong Hock, group accountant with Boustead Trading (S) Pte Limited left for Europe yesterday to attend financial management courses at two UK colleges. He171 words
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Latest results
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Article71 1977-05-28 4 Unaudited pre-tax profit M 54.29 million (Ms3.B million} on turnover of $4.39 million ($3.90 million) for the year ended March 31, 1977. Tax $1.45 million ($1.25 million) leaving net profit of $2.84 million ($2.55 million). Second Interim dividend 10 per cent tax exempt (nil), which together71 words
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Article44 1977-05-28 4 Unau- dited net profit M 5945,000 (loss. $44,000) for year ended Dec 31, 1976. Profits after tax of $566,000 ($49,000), depreciation and depletion of $200,000 ($254,000) and extraordinary expenses of $165,000 (nil). First and final gross dividend 30 per cent (nil).44 words
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Article33 1977-05-28 4 Johan Tin Dredging Pre-tax profit M 536,214 ($74,836) for the year ended Jan 1, 1977. Tax $16,105 ($37,500) leaving net profit $20,109 ($37,336). Proposed first and final gross dividend 20 per cent (same).33 words
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752 1977-05-28 4 TREBOR (Malaysia) has broken out of the straight confectionery field and Is heading towards a battle royal with other manufacturers for the snack food market in Malaysia. Its "candidate" and latest Droduct is a kidneyshaped expanded corn grit in three flavours peanut, prawn752 words
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142 1977-05-28 4 Reuter TEXTRON, a major conglomerate has reached a. tentative understanding with Solvay et Cle of Brussels to acquire 2.7 million shares of the Allied Chemical owned by the Belgian company. The shares represent about 9.6 per cent of Allied shares, Textron said. TheReuter - 142 words
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Article108 1977-05-28 4 Reuter FORD MOTOR plans to recall 600 lone-term unemployed workers at its Metuchen, New Jersey, Pinto-Bobcat Plant next month as part of a plan to increase its small-car* market share. Ford officials told a news conference the plant has been closed since May 13 to controlReuter - 108 words
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Article449 1977-05-28 4 NORTH AMERICAN COMPANIES Reuter PHILLIPS Petroleum expects higher second Quarter and last half earnings, despite the shutdown of the Bravo platform In the Norwegian North Sea where there was a blow-out In late April. The company earned US$lll.2 million in last year's second quarterReuter - 449 words
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304 1977-05-28 4 Reuter THE American Stock Exchange said its Governing Board has instructed the Atnex administration to proceed promptly with a series of programmes designed to strengthen the Exchange's competitive position in the markets for both equities and options. The Board asked for prompt actionReuter - 304 words
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1176 1977-05-28 4 JOHN HOLUSHA - By JOHN HOLUSHA SHADOWY offshore tax havens and an international entrepreneur appear to have been Involved in the collapse of International Bank of Washington's subsidiary In Free port, Bahamas. 18, a large but littleknown financial conglomerate headquartered here, said late last week it was1,176 words
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158 1977-05-28 4 Reuter PARIS, Fri. US Securities Industry Association chairman Mr. David Hunter said he expects no upswing In Institutional business on US stock exchanges at present. He told the Association of International Bond Dealers Conference the number of brokerage firms in the US willReuter - 158 words
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Article145 1977-05-28 4 Reuter TOKYO, Fri. Borden has filed an application with the Tokyo Stock Exchange for approval to discontinue its shares' listing on the exchange, a spokesman for the exchange said. He said the company's decision was due to a decline in the number of Its shareholders in JapanReuter - 145 words
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Article158 1977-05-28 4 Reuter NEW YORK, Fri. Continental Oroup is optimistic about the balance of 1977, vice chairman and chief financial and administrative officer. Mr. Donald J. Donahue told the annual meeting. In first quarter 1977, Continental earned 94 US cents a share on revenue of $869.9 million up from 72Reuter - 158 words
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Article76 1977-05-28 4 Reuter NEW YORK, Frl. W.R. Grace has agreed to acquire Pic 'N Pay, a chain of shoe stores, by exchanging one share of Grace stock for each 2.3 shares of Plc'N Pay shares. Pic 'N Pay operates 348 self-service shoe stores and leased departments, and has aboutReuter - 76 words
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190 1977-05-28 5 EUROPEAN COMPANIES FRANKFURT, Fri. Brazilian and Mexican borrowers look set to carry on tapping the mark Eurobond market at the rate of around one Issue a month for the rest of the year, Eurobond managers said. The Mexican oil concern Petroleos Mexicanos will probably190 words
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Article290 1977-05-28 5 Reuter STUTTGART, Frl. Daimler-Benz has achieved a sharp 33.6 per cent Increase In group earnings last year. Consolidated net profit for 1976 rose to 413 million marks from 309 million marks in 1975. Net sales to third parties amounted to 18.39 billion marks compared with 16.29 billionReuter - 290 words
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Article212 1977-05-28 5 Reuter AMSTERDAM, Fri. The Dutch-German FokkerVFW Group said it expects to make a greater loss In 1977 than 1976's five million mark loss due to the cost of reducing capacity, particularly its German plant. Restructuring will continue into 1978 but no forecast can yet be madeReuter - 212 words
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Article193 1977-05-28 5 UK COMPANIES Reuter PRE-TAX profit at Imperial Chemical Industries fose to £141 million on sales of £1.19 billion for the first quarter ended March 31, 1977 from £128 million and £936 million previously. The pre-tax profit is after depreciation of £54 million (£45 million) andReuter - 193 words
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Article89 1977-05-28 5 LONRHO reported a pretax profit of £39 million on sales of £575.2 million for the first six months ended March 31. 1977. This represents an increase of 17.5 per cent over a pre-tax profit of £33.2 million on sales of £477 million in the previous half year.89 words
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Article227 1977-05-28 5 Reuter AMALGAMATED METAL CORPORATION reported a pre-tax profit of £2.74 million on a turnover of £307 million for the first three months ended March 31. 1977. In the corresponding period last year the company made a pre-tax profit of £1.07 million on a restated turnover of £194 million.Reuter - 227 words
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Article137 1977-05-28 5 FOR the first half-year ?nded March 31, 1977 ICL made a pre-tax profit of £13 million compared with £10.5 million previously. The 24 per cent increase in pre-tax earnings was nrhipved on sales total '!ne £187.8 million against £136.7 million last time. Earnings per share came to137 words
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Article146 1977-05-28 5 Reuter BRITISH PETROLEUM said work at its Sullom Voe oil terminal in the Shetland Islands has been at a standstill since Tuesday following a dispute by 500 workers over contract terms. The men. part of a 1,200 workforce employed by a civil engineering contractor, were dueReuter - 146 words
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Article178 1977-05-28 5 Reuter EARNINGS at Courtaulds jumped some 75 per cent from £46.3 million to £80.9 million for the year ended March 31, 1977 on a 30 per cent Increase In sales. Sales for the year rose to £1.51 billion from £1.16 billion. Tax accounted for £19.9 million (£15.2Reuter - 178 words
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Article70 1977-05-28 5 Reuter ASSOCIATED BISCUIT MANUFACTURERS chairman Mr. R.P. Carr told the annual meeting the group's UK biscuit sales showed a modest improvement, while exports showed a substantial Increase. Margins remain under severe pressure, however, due to the effects of continually rising costs in an extremely price-sensitive market. LastReuter - 70 words
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Article60 1977-05-28 5 Gill Duffus issue Reuter GILL AND DUFFUS £7.3 million one-for-seven rights issue has been 96.87 per cent accepted with 4.00 million of the new shares being taken up. The remainder has been sold in the market and the surplus of 30.013p per share net will be distributed to non-accepting shareholders.Reuter - 60 words
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Article70 1977-05-28 5 Reuter BRITISH STEEL, the UK government controlled steel Industry holding company will raise Its capacitor to 90 million tonnes by 1962 from the current 27 million tonnes, with a total investment budget of not more than about £1 billion each year for five years. Chairman Sir Charles VllllersReuter - 70 words
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Article120 1977-05-28 5 Reuter LONDON, m. The But German foreign trade bank, Deutsche Aussenhandelsbank, will get a US$l25 million syndicated credit with a life of six years lead managed by Bankers Trust International, informed Eurocurrency bankers said. Spread Is lit per cent above London Interbank offered rates forReuter - 120 words
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Article146 1977-05-28 5 Reuter STOCKHOLM Frl. Volvo reported a pre-tax Income of 81 million Swedish crown on sales of 3.43 billion crowns for the first quarter this year. In the 1970 first quarter, pre-tax Income amounted to 81 million crowns and sales 3.46 billion crown. Adjusted income per shareReuter - 146 words
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Article16 1977-05-28 5 ROME, Fri. Sta Generale Immoblliare-Sogene hopes soon to finalise negotiations with banks on the16 words
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Article51 1977-05-28 5 Reuter HAMBURG, Fri. Deutsche Texaco has declared a dividend of 7.3 marks for 1976. It did not pay any In 1975 to Its parent company Texaco International Financial, which owns 99.15 per cent of its shares. It paid 7.30 per cent marks as a guaranteed minimum to vminorityReuter - 51 words
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Article80 1977-05-28 5 ASIAN COMPANIES UPI TOKYO, Frl. Teraoka Shoji, a leading Tokyobased textile dealer, went bankrupt with debts estimated at U5553.6 million, a private research agency said yesterday. The liabilities Incurred by the company are the second largest amount reported this year In the textile industry, next to SanelUPI - 80 words
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Article61 1977-05-28 5 Reuter NEW YORK, Fri. The American Stock Exchange will let trading in Atlas Consolidated Mining and Development resume today, ex a 33 1/3 per cent dividend. The Amex said the stock is already trading ex-dlvl-dend in the Philippines, although the dividend is not payable until JulyReuter - 61 words
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Article281 1977-05-28 5 Reuter TOKYO, Prt. After-tax profit at Nippon Electric rose 62 per cent to 7.54 billion yen on a rise of 14 per cent in sales to 485.92 billion yen for the year ended March 31, 1977. Previously, after-tax profit came to 4.64 billion from salesReuter - 281 words
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Article250 1977-05-28 5 Reuter TOKYO, Frl. Hitachi made an after-tax profit of 30.36 billion yen on sales of 1.29 trillion yen for the year ended March 31, 1977. This compared with an after-tax profit of 19.37 billion yen and sales of 1.09 trillion yen previously. In view of the 57 perReuter - 250 words
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Advertisement163 1977-05-28 5 A word or two about our circulation growth in a language everybody understands 170,000 178,623 160,000 171,293 150,000 140,000 130,000 120,000 100,000 The Sunday Times A The Straits Times 73' 74> The chart tells the story. Simply. Graphically. The most recent quarterly circulation figures for the three months of 1977163 words
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Article2121 1977-05-28 6 i tr M r Lmm Last Sale *erGr*s *r Dtr e'rr Or** r Net P/l Vel (*080) Day High Law SECTION ONE INDUSTRIALS 140 133 204 as 212 101 19S* 183 219 302 136 127 204 88 212 57 180 152 182 350 Aetna Aetna A Alcorn2,121 words
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Article1073 1977-05-28 6 BID and offer prtcM officially listed and buitiMn In and reported to the S toe k Exchanfe of Singapore ye«tenla.v with the number of shares traded shown in brackets tn lots of 1000 units unleee otherwise apeclfted All Time Settlement OontracU are Bited after the word "Sett."1,073 words
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Article1139 1977-05-28 6 h&ID 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. INDUtTIUAkB Almm (1.708 1.806). A. CHM (O.MB 0.088) (1) 0.81. <7> O.M,1,139 words
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Article88 1977-05-28 6 STRIKING prices of the stock optiom officially IM oa the Stock Exekun of Singapore. tW periods. Hi u* offer prices and huriaow dooo ysstorday. with the aaaibor of options traded showa ia bracket*. CaM Storage (June 02.70) (0.03B) (Seot -J2JR\fO 4 0TO) (Dec $2770) (0.12B). DBS (June 93.00)88 words
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Article139 1977-05-28 6 SINGAPORE UNIT TRUST INCOME BOND UNIT iaABIflfl prftOI w Iter May M) (Cvrreat prices) The Commerce The Sarin® Fund i.aa l.nma 0.01 O.N INCOME BOND 1.06 1.11 8'pore Prof Fund OB 0.17 MARA BUMIPUTRA FUND (Managers' prices for May M) fltcurltf 1.40 1.54 8'por» In rest fluid First139 words
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Article134 1977-05-28 6 B O T 7 1/8% IM4 (100,000) (88MB 88*8) BOTI 1/2% IMI (100.000) (102 MB 102M8) D B 8 8 1/2% 1881 (100.000) t 100 MB 101 MS) B 8 CMTM 1/3% 1881 (100,000) (V7MB 96M8X1)«8M EI 88% 1182 (100,000) (103 MB 109H8) K 1 B 8 1/4%134 words
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Article98 1977-05-28 6 S 1/2% 1/4/78 (250,000) (101.SOB 101.578) 1/2% 15/4/78 (250.000) (101.45B) 5 1/4% 15/7/78 (250.000) (101.458 101.558) 4 V 4% l/S/71 (250,000) (100.808 100.848) 7% 1/7/7! (250,000) (104.558) 5 1/4% 15/10/79 (250,000) (101.70B) J/4% 15/5/80 (250,000) (103.358) «/4% 1/12/8# (250,000) (103.358) 5% T F 15/4/81 (250.000) (101.45B) 5% T98 words
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Advertisement138 1977-05-28 6 Penguins in Business and Management /"> Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: IN. Brown Modem Manegament Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M. Gilbert Corporation Man:138 words
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Article555 1977-05-28 7 A of WwW"prio®d SkaTOO NMrdld iibctu* ttalgaiMoarwmdMth* ■wwhH*i support m the Stock bckufi of Siaga|n ndarity. lUAwtiai th* wwllirt gaiae, the Bueineoe Tlmi Un, Which monitors the day's It mH active ikam weighted mwrifai to awhat eapitaUaatiea, that up by U potato to 270J0. Most rf the nkiUititl555 words
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Article576 1977-05-28 7 SELECTED shares were lifted substantially higher ,ln active trading as speculators went on a buying spree on the Kuala Lumpur Stock Exchange yesterday. It was easily one of the busiest sessions experienced by the market so far this year. The strong demand for shares swelled turnover576 words
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INTERNATIONAL STOCK MARKETS
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Article352 1977-05-28 7 HONOKONO: The market doeed little changed in dull trading on Friday, with a slightly firmer tone developing towards the does, dealers said. The Hang Seng index ram 0.01 point to 441.04. Among leading shares, JardUae Matheaaa fell $0 cents to 915.70 and Swfee PeotfW 10 cents to 07.15. BaSaldean352 words
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Article463 1977-05-28 7 TOKYO: Share prices recovered slightly towards the close, dealers said on Friday. The Dow Jones average added 5.44 to close at 4,904.71 with volume 130 million shares. The New index closed at 379.75, up 0.19. The overnight rise In Wall Street aided sentiment In blue chips and some popular*,463 words
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Article435 1977-05-28 7 SYDNEY: Uraniums closed firm In a mixed and active market, dealers said on Friday. The Sydney All-Ordinaries index fell 2.11 to clooe at 403.30. PaaeeatiMatal roae 90 cents to 911.20 on a turnover of 15,000, Qnoonoload Minos 1$ cents to $2.45 on turnover of 21,000, Ketkioea levsstmanta three cents435 words
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Article119 1977-05-28 7 MANILA: The market steadied on Friday, with mining and oils slightly higher In improved turnover, although commercials declined, dealers said. Total turnover rose to I.M million pesos from Thursday's 1.32 million. Gainers Included Atlas Gea B, Baguio Gold, Pfcil Overseas, Saa Miguel B, Orieatal A and Saafroat but PVoep119 words
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Article77 1977-05-28 7 m m -1 oneb in r- r J> 4MB Berll Jucker Charoonf Thai W»T* Duroex DuattThanl rabar Martin BI 186 •1 ♦1 rim Trust Indo-Tbal Industrial Flnanca IMS 11MB •M J And J Ho JaJapratban Ml lit Karnasuta Lee Kwang Mln Metal Box Ram* Towers Safety Insurance Saha Union77 words
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Article271 1977-05-28 7 AMSTERDAM: The market closed easier on ths general election outcome and lower overnight Wall Street, dealers said on Thursday. Trading was quiet with Philip* slightly higher In generally lower Dutch Internationals. Elsewhere, losses were led by Heinekra, Ocagriatse, Pakkeed and 88V. Hall and KNBM were unchanged In weaker shippings.271 words
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Article186 1977-05-28 7 BRUSSELS: Most than prices fell on the lower Wall Street trend despite this week s break through in talks to form a new Belgian government, bourse sources said on Thursday. iMm, FN, GB and HaiaautSambre rose but Seflaa, Aaturieut, Vieille Mmliim, Hofcokeo. Cocker ill, Sotvay, ArM and Uaiea Miaire186 words
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Article285 1977-05-28 7 FRANKFURT: Shares closed mixed in nervous trading on Thursday following wall Street's wmknsm and with fairly small turnover, market sources said. In higher angtasertngs, Lteis ma tM marks, GHH tnree and KHD 1.50 marks. In steels. Knw Hesttsewaaks pref shares ram four marks following the annual press conference. In285 words
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Article147 1977-05-28 7 MILAN: Stocks firmed slightly over a broad front In moderate dealings on Thursday, carrying through Wednesday's rise, bourse sources said. Aafc was marginally firmer, while AukaruiQii G—wall, Baatogi, Flat, Gisnala Imobiliar*. Moaudiaoa, both Ottvattia and both Pirellis also gained Liquigaa prlvlledged fell sharply against the ceneral trend. Bonds were147 words
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Article335 1977-05-28 7 PARIS: The market firmed slightly on Thursday, following measures announced on Wednesday to help sectors of French Industry, dealers said. Operators are having to settle debit balances on the last account but the resulting sales are being well absorbed by the market, they added. Metals gained ground, except for335 words
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Article271 1977-05-28 7 ZURICH: The market closed generally little changed In moderate turnover, with major banks inclined easier, dealers said on Thursday. In sllghtly-hlgher flnanclals, both Baby continued firmer on good demand, with OarUkooBuehrle also gaining. Insurances closed predominantly easier, with a favourable shareholders' letter from Schilaariirhi Roachverisc her ungsgeaellac haft virtually271 words
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Article365 1977-05-28 7 JOHANNESBURG: Gold shares were firm towards the close but lack of Interest led to quiet trading, dealers said on Thursday. Heavyweights gained up to 50 cents and smaller stocks five to 10 cents. In financial mining. Aagtos was unchanged at 380. while JahMiaa lost 100 cents to 2,275. Ds365 words
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Article300 1977-05-28 7 TORONTO: Share prices closed lower In light trading on Thursday with the composite index off more than two points and declines leading advances 222 to 141. Oil and gas issues lost more than 12 points on Index. Nine of the 14 major indices declined. Cominco and Dnm Put both300 words
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Article1220 1977-05-28 7 NEW YORK: The stock market drifted during moat of the session on Thursday, but gathered some momentum In the final hour to finish on a firm note. Volume was moderate. While the blue-chip barometer of the 30 Dow Jones industrials closed with a gain of 4.83 points to1,220 words
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Article62 1977-05-28 7 FINANCIAL TIMES INDUSTRIALS Thursday 461.5 Wednesday 462.5 Week Ago 467.8 DOW JONES AVERAGE INDUSTRIALS Thursday 906.07 Wednesday 003 24 Week Ago 036.46 LONDON DOLLAR PREMIUM Thursday 114* to 114% Wednesday 112% to 113% H.K. HANG SENG Thursday 441.13 Wednesday 442.51 Week Ago 446.96 SYDNEY INDUSTRIALS Thursday 376.64 Wednesday 377.1162 words
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Page 7 Advertisements
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Advertisement12 1977-05-28 7 SIVuV i all 11 J 11 r a i, .vi Xy v-^v12 words
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COMMODITY REPORTS AND PRICES
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Article428 1977-05-28 8 OPENING quotations In the Singapore rubber market yesterday were marked down 0.75 cent following easier London advices ana later some stale bull liquidation together with freer offerings of forwards up to April/June 1978 caused prices to ease further, they said. Trading was quiet and physicals428 words
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Article276 1977-05-28 8 (P Noon ierkllo) Close (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. Int. 1 R.S.S. June Int. 1 R.S.S. July Int. 2 R.S.S. UK/Cont. Int. 3 R.S.S. UK/Cont Int. 4R.S.S. UK/Cont. Int. 5 R.S.S. UK/Cont. 192.50 193.50 197.50 190.00 189.00 185.75 184.75 181.00 180.00 178.00276 words
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Article78 1977-05-28 8 R.A.8. Jaaa (Cmmrnt MU) (Fvwajri Mtk) (CM »«*> Mi f»kg) 3SR20 (1-ton Pallet) 192.50 193.50N 194.00 196.OON 8MR SO (1-ton Pallet) 190.00 191 OON 191.S0 192. SON M.R.E.L.B. SMR5CV (1-ton Pallet) 216.00 218.00N 218.00 230.OON SMR5L (1-ton Pallet) 214.90 218.90N 216.90 218. SON SMR 5 (1-ton Pallet)78 words
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Article30 1977-05-28 8 Rubber: May 27 Siuapon: June 1*3.00 eta (down 1.75 eta) Malaysia: June 194.25 eta (down 1.75 eta) Tin: $1,457 (up $1) Official offariag: 196 tonnes (down 19 tonnes)30 words
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Article227 1977-05-28 8 LONDON, Fri. Terminal opened Irregular with the near Dec position eventually recording a £40 limit down move when offered at £2,315 before the market closed for the statutory 15mlnute break. Turnover totalled 210 lots. Dealers had expected a rather uncertain opening with the tight situation stlfl influencing the nears227 words
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Article472 1977-05-28 8 SHORT-COVERING and sustained buying Interest by New York and some of the European ports made for firmer pepper prices In a generally quiet commodity market In Singapore yesterday. pepper shipments from Indonesia continued to be Irregular and this prompted many of the traders to cover their commitments to472 words
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Article127 1977-05-28 8 BANGKOK, Frl. Indicative prices for rice quoted In Bangkok were: In HONGKONG, the market was mixed, with Kwangtungs up to 40 cents higher and Thai brokens up to $1.00 lower, trade sources said. (US dollars per tonne fob basts Bangkok) White Rice: 100 per cent let class 288 100127 words
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Article74 1977-05-28 8 C I F Rotterdam. US dollars per ton. LONDON: Malaysia 5% f fa bulk Jul/Aug Sumatra 5% May June July Aug Sept Nov Nigerian 5H (fa bulk ROTTERDAM: Sumatra May/Jun Any origin May/Sept Zaire Belg francs per kilo Thursday unq unch 67Cslr 070 sir 670 sir unch unch74 words
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Article187 1977-05-28 8 THE Straits tin price In Fenang Yesterday was up $1 to 91,457 on an official offering down 19 tonnes to 196 tonnes. In LONDON yesterday, tin ended the morning with gains of £5 all round in both contracts. But with European Interest quiet, the market lacked follow187 words
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Article313 1977-05-28 8 LONDON, Frl. Futures ended the opening call easy mostly £15 to £120 per tonne down from last night although spot May gained £10. 449 lots were traded. Local dealer, Jobber and commission house selling took values down below last night. The biggest losses were in the more forward positions313 words
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Article114 1977-05-28 8 CHICAGO, Frl. Wheat futures yesterday were down 2 1/4 to 1 1/2 cents a bushel around midday In a thin trade. Declines In other soybean and corn futures contributed to speculative selling ideas and losses were extended on commission house stop loss selling as new season lows were reached114 words
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Article142 1977-05-28 8 CHICAGO, Frl. Soybean futures yesterday extended opening losses In early trading and were down 21 to nine cents a bushel around midday. There were 960,000 bu of soybeans delivered In the morning. Soybean futures rallied from sharp early losses In nearbys to finish with gains of up to 10142 words
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Article279 1977-05-28 8 HONGKONG, Frl. Cotton futures closed mixed with July gaining 0.13 US cent, and other months showing losses ranging from 0.28 to 0.43 cent, dealers said. Total turnover fell to 62 lots from 135 yesterday. Open positions after yesterday's trading totalled 198 lots, centering on December and March with279 words
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Article378 1977-05-28 8 DURING the past week there Is little fresh comment that can be made about the overall picture of the market as the fundamental background remains unchanged, said Holiday. Cutler and Bath In Its weekly review of the Singapore and Malaysia rubber markets. Trading was thin with378 words
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Article271 1977-05-28 8 LONDON, Frl. Copper wire bars finished the morning £30 up all round. Fresh Impetus was supplied by the rallying tendency at New York, expectations of a sizeable fall In warehouse stocks this week and steadier (old. A wave of pro-weekend shortcoverlng took Three Months up to £796 per tonne271 words
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Article164 1977-05-28 8 On Thursday, futures fell back to around the day's lows In thin dealings following the Reuter report from Oeneva that sugar talks there had failed to reach agreement. August traded down to £126.50 and Oct to £129.75. Earlier the market had reached the day's highs with some covering finding164 words
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Article47 1977-05-28 8 LONDON, Thurs. Lead fell In the afternoon by £20.75 for cash and £19.25 for Three Months. Further liquidation and chart selling pushed Three Months down to £360 In the ring although the kerb steadied to £353 on trade hedge buying, dealers said. Sales were 2200 tonnes.47 words
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Article32 1977-05-28 8 LONDON, Thurs. Zinc declined In the afternoon by mostly £13 per tonne. Values eased in line with the general trend. Three Months finished trading at £333 In sales of 2,300 tonnes.32 words
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Article345 1977-05-28 8 IN the Singapore gold market yesterday the kllobar was traded in a narrow range of 5511,330 to $11,350 in dull and featureless condition. The loco London gold opened at 143.10/35 and was bldded up quickly tq 143.40/70 and settled at that level till closing. The London morning gold fix345 words
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Article135 1977-05-28 8 LONDON, Thurs. Sliver In the afternoon closed In the range 262.50/263.50 pence per ounce for spot metal, down five pence on Wednesday's finish, while Three Months was off at £68.50/269.50 pence. Dealers said trading in the morning was active although business tailed off towards the close. In NEW YORK135 words
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MONEY AND EXCHANGES
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Article477 1977-05-28 8 THE US dollar saw steady trading In the Singapore foreign exchange market yesterday despite the announcement of a record US trade deficit of U552.62 billion in April. Most dealers squared their positions ahead of the weekend in anticipation of a rise of 1/4 point In US prime rates and477 words
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Article53 1977-05-28 8 ACBC «H First Chicago AtgMBMM Ha ok «H Citibank M Bangkok Bank 7 HSBC 7 Bank of America Indoauet «v, Bank of China 7 CH Bank of Tokyo MiUui Bank m Bank Nacara OCBC lndoMaia 7 OUB Chartered Bank 6V« UCB 7 Chaw Manhattan SV, UMBC 753 words
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Article159 1977-05-28 8 Asian rates ASIAN currency deposit Interbank rates as at close on May 27 US DellarstSpet) Oflbr Mi 'toys 5 5/8 5 1/2 >nith 5 11/16 5 6/16 2mths 6 7/8 3 mths 6 1/B 6 6mths 6 VI 6 1/4 mths S 9/16 6 7/16 12 mths g n/16 6159 words
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Article43 1977-05-28 8 RANOE of prices offend by discount houses on Mar 27 Oemifht 3* Osll deposit SH ChMli B«y 3-month Treasury Nils 3-Month Bank bins 3-Month CD •-Month CD S 4 4 3/16 47/U 27/B 37/» 41/1* 4 vie Source: National Discount Co. Ltd.43 words
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Article85 1977-05-28 8 HONGKONG, Frl. The mark firmed to 2.3528/38 against the US dollar from 2.3540 midpoint equivalent at the New York close, In quiet trading, dealers said. The US dollar weakened marginally to HK54.6935/50 from yesterday's 4.6970/90, in very quiet business, they added. HONOKONO banknotes quoted on May 27 US 4.675/4.69585 words
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Article87 1977-05-28 8 Euro rates LONDON, Frl. Eurodollar deposit rates opened basically unchanged In quiet pre-weekend trading, dealers said. Little effect was noted on rates following the Increase in the US money supply figures, with Fed funds traded around 5 3/2 without Fed intervention. LONDON Eurodepoilt* openlnf quote* on Umj 27 US dollar:87 words
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Article33 1977-05-28 8 RESULTS of tender held on May 27 for 91-day Treasury Bills. Offered: 940.000.000 Applied for: 991,030,000 Accepted approximately 41%; higher bids in Average rate of discount on allotment: 2.940% pa.33 words
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Article301 1977-05-28 8 NEW YORK, Frl. The dollar yesterday closed sharply weaker against nearly all currencies after news of a record $2.62 billion U*s April trade deficit, dealers said. The market became hectic following the news as many banks here who were long dollars scrambled to square their positions, they said.301 words
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Article213 1977-05-28 8 LONDON, Frt. Pressure on the US dollar, stemming from a record $2.62 billion US April trade deficit, abated this morning and the US unit was quietly steady, dealers said. Its steadiness also reflected market anticipation of a rise In US prime rates today reinforced by news of a $1.4213 words
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Article144 1977-05-28 8 TOKYO, Frl. The US dollar for overnight delivery closed quietly easier after fluctuating in a narrow range, dealers said. The US unit closed at 277.18 yen, up slightly from 277.00 at the opening, but down from 277.40 at yesterday's close. After Initial weakness following an overnight fall abroad, the144 words
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Article58 1977-05-28 8 AUSTRAL!A/NZ exchanges quoted on May 27 Australia: Stirling 0 6465/0 6305 US dollar 1 1086/1 1018 Ninety-day air mall buying rate*: Sterling 0.6647 U8 dollar* 1.1319 Ninety-day forward buying rata*: Sterling 0.6466 US dollars 1 0047 New Zealand: Sterling 0 M00/0.9960 U8 dollar 0 9664/ 0 9964 Ninety-day forward58 words
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Article54 1977-05-28 8 ZURICH exchanges closing quotes on May 28. U8 2.3013-9030 UK 4.2MC-2B65 Can 2 3600-3390 w/0«m 106 29-35 Nettl loin-aa rrance 90 54-37 Bel« 6 93S/ 94S Denm 41 66-66 Norw 47 #1-64 Swcd 57 45-48 Italy 0 2823-2825 Austria 14.91-04 Port 6 46-48 Spam 3 61 *.-82 Ar* 054 words
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Article43 1977-05-28 8 FRANKFURT exchanges opening quotes on May 27. U8 2 3527/87 2 3535-40) Can 2 2438/56 UK 4 040/060 NeUl 95 75/86 8Will 93.9S/94.08 Italy 2 83/86 France 47 52/82 Nor* 44.68/72 Bel ft com 8 525/535 Belg fin 6.52/54 Japan 0 8468/9643 words
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Article148 1977-05-28 8 LONDON Eurobond price* quoted oil May 27 CaovertibMa Bid Offer M&rlnr Mid S Pet 78% MtUublsht Elec 7% 124 Mitsubishi Heavy 6% 105 Mbr«an4% 97 Owens 4% 100 Penney 4% 77% Raymond o+s finance 128% Revlon4%-87 102% Ricoh 8% 124% Sanyo Elec 6% 103% Te*aco4% 81 UB8(luxl5Pet) 101%148 words
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Article59 1977-05-28 8 Reuter FRANKFURT, Frl. The 100 million mark Eurobond for the Spanish Motorway Authority Autoplstas de Mare Nostrum will be for seven years and probably carry a 7.75 per cent coupon, primary bond market sources said. Pricing is expected to be slightly under par when terms are finalised aroundReuter - 59 words
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Page 8 Advertisements
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Advertisement188 1977-05-28 8 i >*•• *Mr' *5T -.joj rm MONTHLY ECONOMIC REPORTS With monthly political luppkimnt for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and188 words
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TRANSPORT AND COMMUNICATIONS
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Article589 1977-05-28 9 NEWBUILDING orders worldwide have fallen by more than 25 per cent over the last few months. The latest Issue of Fairplay International reports a decrease in contracts by more than 100 in the last quarter up to April 30, compared to the two quarters before. This589 words
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322 1977-05-28 9 DETROIT, Fri AP THE chairman of American Motors predicted yesterday that the US small-car market will triple or quadruple in the next few years and ensure a future for small-car specialist AMC. "To be able to fish in a pond of sixAP - 322 words
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Article73 1977-05-28 9 THE Port Master's Department yesterday reminded masters, owners and agents to comply with various safety precautions prior to sailing or shifting any vessel which is alongside or at anchor. These instructions re- quire no lighters, barges or other such vessels to remain secured alongside; no derricks, cranes73 words
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Article67 1977-05-28 9 AP UNITED NATIONS, Frl. A UN treaty drafted BV4 years ago to lay down international rules of the road is now in effect, the United Nations announced yesterday. The convention on road traffic, prepared at a UN conference on that subject in Vienna Oct 7 Nov 8,AP - 67 words
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Article, Illustration108 1977-05-28 9 AMERICAN Marine (S), builder of the Grand Banks of luxury craft, has exported another of its 9.7 metre model to a client in Europe. The boat was fixed with a cradle and loaded on board the Scan Dutch containers hip Nedlloyd Delft for Denmark. American Marine108 words
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Article98 1977-05-28 9 OPERATIONS to salvage the Kadina have begun. Mariners are advised by the Port of Singapore Authority to keep clear of area within a radius of 300 metres around the wreck in Lat 01-16* 39.0"N and Long 103*52'35.3"E. They are also advised to proceed at slowest speed98 words
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Article246 1977-05-28 9 WASHINGTON, Friday Washington Star SIX members of Congress have urged the Supreme Court to step In before the end of this month to stop US negotiations for a new treaty governing the Panama Canal. The six conservative lawmakers said there Is every reason toWashington Star - 246 words
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Article251 1977-05-28 9 Reuter MANILA, Frl. The government's National Development Company, (NDC) said It extended a 30 million pesos long-term loan to the Bataan Shipyard and Engineering Corp (Baseco) to expand Its repair shipyard facilities. NDC officials said the loan Is repayable within 25 years at six per centReuter - 251 words
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Article195 1977-05-28 9 AP LONDON, Frl. Timecharter business provided the main source of activity on an otherwise very dull London freight market yesterday. South American Importexport trade again generated good timecharter employment for tonnage In a wide variety of delivery areas. In the Far East, Astramar booked the 27,963-tonne dwAP - 195 words
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Article, Illustration344 1977-05-28 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Vllja (B. Barge) (2300 after Ramoneverett) 40/41 Denpasar 111 (1500 after Mulberry) 25/26 Ithaki Sailor (1100 after Blue Orion) (Draft 9.1 m) (Subject gas Free) 13/14 Murasakl Maru No. 5 (1830 31 East Nordhausen (0600 44 Ruth Lykes (1500 after Blue Orion)344 words
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166 1977-05-28 9 ANOTHER team of ScanDutch marketing executives will be visiting Singapore from tomorrow to June 1. The team, consisting of a representative from the Scan Dutch regional office In Rotterdam and four executives from various agencies In Europe, are presently on a three-week tour of166 words
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178 1977-05-28 9 BONN, Frl, The West German company Ruter Bau, a subsidiary of Salzgltter. has signed a contract with the Soyuzvnesh-stroy-lmport, the Soviet foreign trading organisation. The contract Is for a modern International air terminal at Moscow's Sheremetevo airports, to be ready in time for178 words
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Article610 1977-05-28 9 ARRIVALS S6TViO0 Operator Number LfOcm. Ttet I From CAL CI333 0040 TPE/HKG/KUL CPA CX003 0145 HKG MAS MH682 0810 KCH PAA PA847 0630 SFO/HNL/OUM CPA CX710 1000 HLP CAL CI8I4 1000 HLP SLA SQ211 1015 HLP OIA GAWK) 1030 HLP THAI TG423 1035 BKK OIA OA 908610 words
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Article270 1977-05-28 9 BRITISH Asian Line operates a regular liner service between Singapore, West Malaysia and Frem an tie. Presently, British Asian Line operates only one ship, the "Neptune Jasper". The line, however, Is contemplating taking on an additional vessel over the next two months to supplement this route. The270 words
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Page 9 Advertisements
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Advertisement199 1977-05-28 9 Give us a man for a moutliwe'll give him a language for life fnlngua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency199 words
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Article, Illustration1021 1977-05-28 10 LEONARD SILK - Carter to decide whether to ask Fed chairman to serve another term... By LEONARD SILK NYT WHO will be the next chairman of the Federal Reserve Board? The question once would have seemed important only to the more sophisticated members of the financial community. But a recentNYT - 1,021 words
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Article, Illustration1810 1977-05-28 10 Kevin Rafferty - Temporary boost —but what next? Kevin Rafferty takes a look at the state of the Pakistan economy Kevin Rafferty PAKISTAN'S officials believe that the country's greatly strained trade account may receive a U.S.$lOO million (SS24O million) shot in the arm because of the prolonged political turmoil. But they are nervous1,810 words
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796 1977-05-28 10 MOHSIN ALI - By MOHSIN ALI Reuter WORLD leaders are facing an unprecedented crisis how to prevent the spread of nuclear weapons. The issues of nuclear nonproliferation are highly technical. But reduced to brutally simple terms the problem is this: the world is increasingly forced toReuter - 796 words
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Article1358 1977-05-28 10 V.K. CHIN - The presence of Tunku Abdul Rahman at* the Umno 31st anniversary celebration was a sign that things are back to normal. Dr Mahathir Mohamad has managed to mend fences with the Tunku and there is now greater understanding within the party, reports V.K. CHIN from Kuala1,358 words
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Page 10 Advertisements
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Advertisement328 1977-05-28 10 Active International Trading House With Subsidiaries throughout South East Asia Has A Vacancy For A FINANCIAL CONTROLLER For Singapore, Malaysia and Hong Kong. Establishing and supervising local financial, cost, and management accounting systems for all three subsidiaries Conducting internal audits Coordinating cash control, currency hedging, credit usage, investment policy and328 words
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231 1977-05-28 11 UPI GENEVA, Frl. Six weeks of negotiations on a new International sugar agreement ended in failure today but with a new attempt possible In September. Major sugar producing countries blamed the European Economic Community for blocking agreement by refusing to consider an arrangement basedUPI - 231 words
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Article97 1977-05-28 11 Reuter SYDNEY, Frl. Prospects for long-term sugar supply contracts with China have been strengthened following talks with a visiting toplevel Chinese mission, John Laurie, general manager of CSR Ltd's sugar division, said. The mission, led by Mr. Wang Yao-tlng, president of the Chinese Council for Promotion ofReuter - 97 words
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Article212 1977-05-28 11 Reuter NEW YORK, Frl. Tin dealers here said they expect near-by supplies to tighten following news that a tm-laden boat due here from Penang has been delayed for some two weeks. The ship, the Oriental Musician, will probably arrive on June 20 Instead of the originalReuter - 212 words
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Article70 1977-05-28 11 Reuter MANILA, Frl. The Philippines National Irrigation Administration (NIA) plans to irrigate an average of 130,000 hectares of rice land every year for 10 years beginning from 1978, its administrator, Mr. Alfredo Junio told newsmen. The programme involves construction of national, communal and pump irrigation projects, rehabilitation andReuter - 70 words
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220 1977-05-28 11 UPI TOKYO, Pri. Soviet Foreign Trade Minister Nikolai Patollchev net Foreign Minister lichiro Hatoy ama today and celled for a conclusion of a longtern agreement on economic cooperation between their two countriee. Mr. Patoliehev, in Tokyo to renew the Japan-Soviet trade and payments agreementUPI - 220 words
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322 1977-05-28 11 WHEN NARITA AIRPORT OPENS... UPI TOKYO, Frl. Japan and Taiwan may face disputes over commercial flights between Tokyo and Talpeh when the new international airport at Narlta opens late this year or early 1978, the Malnlchl Shimbun newspaper said today. Trouble may stem fromUPI - 322 words
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217 1977-05-28 11 UPI WELLINGTON, Frl. Foreign Minister Brian T&l--boys today said the Government has given no Indication that Japan's fishing fleet will receive preferential treatment over that of the Soviet Union In access to New Zealand's 320km economic zone. Replying to opposition questioning In Parliament on whetherUPI - 217 words
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195 1977-05-28 11 TWENTY three senior management representatives of the ICI group of companies In South-east Asia, Taiwan, Japan and India attended a two-day marketing conference held at a local hotel recently. Mr. Llm Cheng Sang, marketing manager Singapore, ICI Paints, speaking at the conference said that the195 words
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170 1977-05-28 11 THE Automobile Association of Singapore will be hosting the 79th General Assembly of the Alliance Internationale de Tourlsme (AIT) from Monday to June 3 at Shangri-La Hotel. This Is the first time the General Assembly will have been held In Asia. When170 words
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Article159 1977-05-28 11 THE Australian Prime Minister, Mr. Malcolm Fraser, left Singapore for Rome last night after a one-day unofficial visit here. Mr. Fraser, who flew in on Thursday evening, met Singapore's Prime Minister, Mr. Lee Kuan Yew, for lunch yesterday. Sources close to the Prime Minister said the159 words
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162 1977-05-28 11 Reuter HONGKONG, Fri. Hongkong hotels are to put up stickers In their rooms asking guests to take a shower, not a bath, when water rationing starts here next week, It was announced today. The Hongkong Hotels Association also said that waiters would noReuter - 162 words
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Article123 1977-05-28 11 MOSCOW Narodny Bank was involved in petitions Is wind up two com pa alas yesterday. Mr. Justice D'Cotta granted the petitions to wi*d up Shoo Prasad Skarma Co. (Pte.) Ltd. and Development (8) In the first ease, MNB was the petitioning creditor while in the soesnd it supported123 words
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Article129 1977-05-28 11 Reuter TOKYO, Frl. A Japanese steel Industry mission will visit Hanoi early in June for pricing negotiations with the Government for the export of 200,000 tonnes of steel products to Vietnam, Nippon Steel Corp (NSC) said. In previous negotiations in Hanoi in April, Vietnam saidReuter - 129 words
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Article125 1977-05-28 11 Reuter TOKYO, Frl. Japan's April consumer price Index rose by 1.6 per cent to an unadjusted 117.0 (base 1975), following a 0.6 per cent rise in March, the Prime Minister's Office said. The year-on-year rise fell to 8.6 per cent from 9.4 per cent In March. TheReuter - 125 words
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Article132 1977-05-28 11 MR. William Edgerly, chairman and president of State Street Bank and Trust of Boston Is due In for a three-day visit. He will have talks with the Deputy Prime Minister, Dr. Goh Keng Swee, the managing director of the Monetary Authority of Singapore, Mr.132 words
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Article38 1977-05-28 11 Reuter UNITED NATIONS, Frl. Secretary-general Kurt Waldhelm will fly to Paris over the weekend to take part in next week's session of the North-South conference on International economic cooperation, a UN spokesman said yesterday. Re uter.Reuter - 38 words
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Article101 1977-05-28 11 DR. Toh Chin Chye, Minister for Health, will offlclate at the opening ceremony of the extension to Beecham Pharmaceuticals Pte Ltd at the company's factory In Jurong on Tuesday. Beecham Pharmaceuticals, which started production In December 1972, Is producing semisynthetic penicillins. Its workforce numbers 445.101 words
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Article117 1977-05-28 11 A SEMINAR on "Total Quality Control" to be held on Tuesday at the Hibiscus Room. Shangri-La Hotel, will be opened by the Member of Parliament for Potong Paslr, Mr. Ivan Baptist. A hundred participants from industry will be attending this one-day seminar which Is organised117 words
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Article121 1977-05-28 11 THE four-day pre-unlver-slty seminar on Asean jointly organised by the Ministry of Education and the Catholic Junior College opens today. The theme of the seminar is "Asean: Its Meaning and Implications for Singapore" and it will be opened by Mr. Lee Khoon Choy, Senior Minister of State121 words
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Page 11 Advertisements
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Advertisement401 1977-05-28 11 APPOINTMENTS PHILIPS requires PLANT EN6INEER Applicants for the above post should possess a diploma/degree on mechanical engineering with three to four years experience in the maintenance of an industrial plant. Those with a working knowledge of statutory requirements in regard to this field would have a definite advantage. The selected401 words
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Advertisement267 1977-05-28 11 TOOUNG MANAGER Modern plastic Injection Moulding plant to set up a precision plastic mould making department seeks an expe* rienced person to head the operation. Applicant should have the following experience: 1. designing and drafting of precision plastic injection molds, 2- familiar with standard/ commercial parts, 3. thoroughly experienced in267 words
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Advertisement140 1977-05-28 11 WESTERN AUSTRALIA TWO OUTSTANDING FREEHOLD HOTELS it rift DIANELLA HOTEL Cnr. Alexander Dr. Waverley St., Dianella. Drive-in bottle shop. Swimming pool. 22 Motel suites. MORRIS HOTEL Cnr. Barnes Morris Rds. INNALOO 2 main bars. Function/Dining room. Bottle shop, accommodation suites. For sale SEPARATELY with VACANT POSSESSION. BY AUCTION IN THE140 words
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437 1977-05-28 12 UPI TOKYO, Frl. Japan's top business leaders will seek a meeting with US President Jimmy Carter to discuss energy, monetary and other economic Issues during their scheduled trip to Washington next month, officials said today. Japan's Federation of Economic Organisations (Keidanren) president, Mr. ToshloUPI - 437 words
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Article169 1977-05-28 12 Reuter LONDON, Fri. The Bank of England announced a new £400 million (SII6BO million) floating rate government bond to mature in November 1981 which will yield interest at an annual rate of 0.5 per cent above the average rate for 91-day Treasury bills. Financial officialsReuter - 169 words
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Article33 1977-05-28 12 Reuter ROME, Fri. The US's World Food Programme (WFP) will give India US$l.l million (SS3 million) to help drought victims in the eastern state of Orlssa, a spokesman said yesterday. —Reuter.Reuter - 33 words
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Article171 1977-05-28 12 UPI TOKYO, Frl A controversial bill tightening controls on monopolistic business activities was enacted today after passage by the Upper House of Parliament. The legislation, authorising the first revision In Japan's anti-monopoly law since it was put into force In 1947, cleared the Lower House on May 13.UPI - 171 words
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382 1977-05-28 12 PARIS, Fri. Agreement by oil producers to a "continuing dialogue on prices and supplies" with consumer nations will be a key Issue In ensuring the success for next week's final ministerial meeting of the North-South economic talks, the Canadian cochairman Indicated yesterday. But the382 words
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Article290 1977-05-28 12 Reuter WASHINGTON, Fri. Saudi Oil Minister Sheikh Ahmed Zakl Yamanl said Saudi Arabia will do its best to hold down oil prices but Is prepared to meet the current prices of other oil producers if the producers forego scheduled Increases. Sheikh Yamani told reporters, "We willReuter - 290 words
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Article721 1977-05-28 12 LONDON. Fri. Government bonds fell by up to 1-1/4 points following concern about higher interest rates, dealers said. Thin conditions exaggerated the fall. Equities followed the trend, having opened slightly harder. At 3.00 pm, the Financial Times Index was off seven points at 454.5 after 453.4. US and721 words
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273 1977-05-28 12 Reuter MANILA, Fri. Industry Secretary Vicente Patemo has suggested that Asean should specialise in the manufacture of rubber products. Speaking at yesterday's organisational meeting here of the Asean rubberbased Industries club, one of 12 regional Industry clubs the association Intends to form this year,Reuter - 273 words
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459 1977-05-28 12 THE opening of the NTUC Welcome Queenstown Supermarket vindicates the triumph of consumer strength In Singapore, the Minister for Culture and Science and Technology, Mr. Jek Yuen Thong, said last night. "It Is gathering momentum. It Is a power to be reckoned with, and459 words
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194 1977-05-28 12 AP NEW YORK, Prl The present system of trading between nations is not working, the chairman of the US International Trade Commission (ITC) said yesterday. He suggested removing trade barriers and establishing a more equitable relationship between rich and poor nations. "OurAP - 194 words
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Article177 1977-05-28 12 AS part of its 20th anniversary celebrations, Metro yesterday launched its corporate image campaign with the message "Metro make it part or your life." More than 1,000 Metro staff reported to work carrying the message on the backs of special commemorative T-shirts. The retail chain-store177 words
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454 1977-05-28 12 THE Singapore Institute of Standards and Industrial Research, (Sisir) has developed a new programme for the manufacturing sector which will Include the development of its mechanical calibration facilities and a range of activities to support the shipbuilding and construction sectors. Dr. Lee Kum Tatt,454 words
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Article179 1977-05-28 12 THE government Is working out ways and means to encourage and stimulate the private sector and public organisations to cany ou( appropriate R and D activities. This, said Dr. Tan Eng Liang, Senior Minister of State for National Development, is to encourage the manufacturing sector to179 words
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249 1977-05-28 12 UPI BURBANK (California), Frl. Lockheed Aircraft Corp., admitted yesterday It made "questionable" payments to foreign consultants and officials amounting to UBS3O million (Ss74 million) and possibly as much as $38 million during a six-year period. But Mr. Robert Haack, chairman of theUPI - 249 words
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115 1977-05-28 12 Reuter HONGKONG, Frl. Hongkong's visible trade deficit narrowed to a provisional HKS792 million (SS4I6 million) In April from $842 million in March, but widened from the $375 million deficit recorded in April 1976, the Census and Statistics Department reported. Exports and re-exports totalled $3.34Reuter - 115 words
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IN PARLIAMENT YESTERDAY
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361 1977-05-28 12 JOHN TAN - b* JOHN TAN THE National Development Ministry is considering allowing owners or lessees of public housing to purchase commercial property for conducting their own businesses without having to surrender their HDB flats. This was stated by the Senior Minister of State for National Development361 words
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218 1977-05-28 12 FINANCE Minister Hon Sul Sen told Parliament yesterday that the present 15 per cent CPF rate is not the ultimate limit and future rates of contribution will depend on all circumstances, including the state of the economy, at that time. When asked218 words
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138 1977-05-28 12 THE Minietar of State for National Development, Dr. Taa Bag Liang, pledged yesterday te continue mkinf private developers but warmed that demand for am nsHsnllsl and commercial facilities eaa only increase through wid business confidence and soouomic growth. Dr. Taa, speaking in Parliament, said138 words
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Article33 1977-05-28 12 MR. Bernard Chen was sworn in as Member of Parliament for Radln Mas following his success in the by-election earlier this month. He replaces the late Mr. N. Govlndasamy33 words
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259 1977-05-28 12 LEAVE of absence from Parliament was withdrawn from the member for Bukit Merah Mr. Llm Guan Hoo, paving the way for an eventual by-election In his constituency to elect his successor. Mr. Llm suffered a stroke on Feb 13 at the 10th259 words
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Article105 1977-05-28 12 THE Housing and Development Board will revise rates of rent to the prevailing market rate when shops are assigned from original tenants, according to Dr. Tan Eng Liang, Senior Minister of State for National Development. He said this when replying to a question on why the HDB105 words
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366 1977-05-28 12 HEALTH Minister Dr. Toh Chin Chye yesterday described the claim that electrically-charged ions can cure certain illnesses as nothing more than fraud being perpetrated on a gullible section of the public. He told Parliament that the building control authorities and the Public Utilities366 words
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Article84 1977-05-28 12 THE Joint enterprise between Singapore and Thailand to import agricultural produce and to establish a livestock farm In Thailand will not affect the livelihood of local farmers. This assurance was given by the Minister of State for National Development, Dr. Tan Eng Liang, who told the house yesterday84 words
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182 1977-05-28 12 THE Minister for Social Affairs, Encik Othman Wok, •aid In Parliament yesterday that a Fire Service Act •rtu be introduced in the near future to give the Chief Fire Officer of the Singapore Fire Brigade wider powers to fight fire hazards Ugh rise buildings182 words
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Article50 1977-05-28 12 SIX bills were read for the first time In Parliament. They are the Singapore Red Cross Society (Incorporation) (Amendment) Bill, the National Maritime Board (Amendment) Bill, the Newspaper and Printing Presses (Amendment) Bill, the Pawnbrokers (Amendment) Bill, the Income Tax (Amendment) Bill, and the Parliamentary Pensions (Amendment) Bill.50 words
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Page 12 Advertisements
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Advertisement54 1977-05-28 12 NOTICE Kindly be notified that Mr S.O.A. Alsagoff of 16 Jalan Mariamah. Johore Baru, a Director of British Malayan Trustees Limited with effect from 20th May 1977 has resigned from the Board of Directors of the said Company owing to ill-health. TAN HOON SIANQ CHAIRMAN BRITISH ft MALAYAN TRUSTEES LIMITED54 words
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