The Business Times, 15 June 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 WEDNESDAY, JUNE 15, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon More coffee
      65 1 UPI WASHINGTON, Tues. Coffee drinkers can expect Increased supplies on the heels of a sharp recovery In world production this season, but the 1977-78 crop will remain 9 per cent below average, the Agriculture Department reported today. The department's foreign agricultural service, In its first estimate of the
      UPI  -  65 words
    • Article
      Lock icon Janata does it again
      73 1 Reuter NEW DELHI, Tues. The Janata (People's) Party forged ahead In early results announced here tonight for Assembly elections In 10 Indian states in a repeat of its March general election victory. First results showed the Janata Party winning 27 seats against the Congress Party's nine
      Reuter  -  73 words
    • Article
      Lock icon China buys fertiliser
      65 1 UPI TOKYO, Tues. Japan's fertiliser Industry has agreed to export US$B4 million (Ss2o7 million) worth of chemical fertiliser to China In the JulyDecember period of this year, Industry sources reported today. The sources said shipments will Include 500,000 tonnes of urea and 150,000 tonnes of ammonium sulphate.
      UPI  -  65 words
    • Article
      Lock icon Deposit not required
      53 1 Reuter ABU DHABI, Tues. United Arab Emirates (UAE) importers will no longer be required to make a cash deposit of 25 per cent of letters of credit on any transaction, officials said. The measure was taken to stimulate and encourage economic and trade activities, particularly in the
      Reuter  -  53 words
    • Article
      Lock icon China warns Japan
      56 1 Reuter HONGKONG, Tues. China today warned Japan that its agreement with South Korea to develop the continental shelf could have harmful effects on Sino-Japanese relations, according to the New China News Agency. The agency, quoting Peking's official People's Dally, said the issue was "a serious Incident which
      Reuter  -  56 words
    • Article
      Lock icon Blow to Concorde
      51 1 Reuter NEW YORK, Tues. The US Appeals Court today reversed a lower court decision that would have permitted the Angld-French Concorde to land In New York. The three-Judge appeals panel sent back the decision to federal district court Judge Milton Pollack who had handed It down last
      Reuter  -  51 words
    • Article
      Refund deadline
      35 1 JAKARTA. Tues. Companies Involved in commodity futures trading have been warned to give clients their money back by November or they will be forced to close, Trade Minister Radius Prawlro said today. v
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    • Article
      Lock icon Dow Jones
      74 1 UPI NEW YORK, Tues. Stocks headed sharply higher in heavy trading early today in reaction to Morgan Guaranty Trust's decision to cut its prime lending rate a quarter point to 6 V* per cent. The Dow Jones Industrial average, which gained 1.61 points yesterday, was ahead 5.85 points
      UPI  -  74 words
  • Chief Price Changes
    • Article
      In Kuala Lumpur
      111 1 Rises Most active SEA 2 00 26 Haw Par 629.000 High Low Pacific Dev L74 2 04 .07 G. Lumber Inrhrar* 423,000 272.000 C Storage 3.12 06 APT 212.000 Gentings Inchcape S Trading Wearnes M. Flour Rothmans 2.09 2 61 5 45 3 02 3 00 3.14
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    • Article, Illustration
      In Singapore yesterday
      179 1 STRONG buying support in the last half hour of trading sent share prices higher on the Stock Exchange of Singapore yesterday. A notable gainer was Jardine Matheson which jumped 22 cents to $2. Reflecting the last minute bullish activity, the Business Times index rose 6.79 points to
      179 words
  • Article
    Cho's million dollar deals with Pernas
    2388 1  -  CBT INQUIRY TOLD OF By QUEK PECK LIM A MAGISTRATE'S court heard yesterday, how business transactions amounting to several millions, of dollars were conducted between Pernas and Malaysian businessman Cho Jock Kim, and between Cho and the now defunct Mosbert group. These transactions were
    2,388 words
  • Article
    Lock icon BRITAIN PUTS UP 66m BP SHARES FOR SALE
    185 1 Reuter LONDON, Tues. The British Government today launched the sale of some 66 million shares it holds in British Petroleum (BP), one of the biggest share offers made here. Making the long awaited announcement on behalf of the government, the Bank of
    Reuter  -  185 words
  • Article
    Carter govt opposed to trade barriers
    626 1 AMERICAN Agriculture Secretary Mr. Bob Bergland said yesterday the Garter Administration Is adopting a resistant attitude towards protectionism moves In the United States and abroad. But he admitted that government efforts to curb protectionism presents a "difficult problem" which will take time to resolve.
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  • Article
    Time for follow-up action: McIntyre
    509 1 LONDON, Tues. It ts now for Commonwealth governments to -decide among themselves which particular course of action to take to implement his proposals to bring about a new world economic order, Mr. Alister Mclntyre, head of the group of so-called Ten Wise Men who drafted
    509 words
  • Article
    Lock icon Bleak OECD forecast
    282 1 Reuter PARIS, Tues. International economic experts are forecasting a spurt In Inflation and unemployment rising to 16 million In the non-communist Industrial countries towards the end of this year, informed sources said yesterday. Economic growth Is in danger of slackening next year when most member countries of
    Reuter  -  282 words
  • Article
    Malaysian bid for three new Asean projects
    285 1 KUALA LUMPUR, Tues. Malaysia will be bidding for another three Asean industrial complementarity projects. These include metal working machine tools, heavy duty rubber tyres and electrolytic tin plating. They are among the second list of Asean industrial projects which have been identified by
    285 words
  • Article
    Only $359 m worth of projects in first quarter
    530 1 DEVELOPMENT projects approved by the Government in the first quarter was worth only $359 million, less than half the level two years ago. and represents a 20 per cent decline from the fourth quarter of last year. Investment has also tended
    530 words
  • Article
    KRITI SUN SUIT
    95 1 THE Port of Singapore Authority is suing Gardenia Comptnla Naviera S.A. for a total of $8.22 million, allegedly being expenses incurred by the PSA in raising and removing the wreck of the defendants' vessel. Kriti Sun. Kritl Suri, a 61,000-tonne Greek oil tanker was struck by lightning
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  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
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    • Advertisement
      Page 1 Advertisements Column 2
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      57 words
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      Page 1 Advertisements Column 3
      3 1 SEE BACK PAGE
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    • Advertisement
      Page 1 Advertisements Column 4
      149 1 if I] (pashas got a I evw flame <?{_^|]'($}}$%(![,!$*|-_;>`},%) Any person seated at this desk can do the work of three people Yes, one person to handle all customer accounts. Calculate and complete invoices.. Prepare statements. Process payroll. Control the ledgers. Control stock flow. All these procedures completed at electronic
      149 words
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  • OVERSEAS
    • Article
      Lock icon W. Europe steel industry won't recover this year
      298 2 Reuter GENEVA, Tues. The West European steel Industry, hit by sliding prices last year, cannot expect a recovery this year but the industry in Eastern Europe will continue to expand, the United Nations Economic Commission for Europe (ECE) said here. In its
      Reuter  -  298 words
    • Article
      Lock icon Moderate revival
      56 2 Reuter BERNE. Tues. The Commission for Economic Research at tl>e Swiss Economics Ministry said it expects a moderate economic revival in Switzerland in the next few months. Exports should continue to rise due to the development of the international economy but the commission said the domestic price level
      Reuter  -  56 words
    • Article
      Lock icon The system European Options Exchange will adopt
      249 2 Reuter CHICAGO, Tues. The new European Options Exchange (EOE) will use the Chicago Board Options Exchange's competing market maker system when it begins trading towards the end of the first quarter of 1978, EOE secretary, Mr. Lubbertus Scholten, told a press conference here.
      Reuter  -  249 words
    • Article
      Lock icon Bauxite sales
      38 2 AFP GEORGETOWN. Tues. Pat Thomson, chairman of the Bauxite Industry Development Company (BIDCO), reports that Guyana hopes to sell about US$l42 million (***** million) worth of metalgrade bauxite and alumina and calcined bauxite this year. AFP.
      AFP  -  38 words
    • Article
      Lock icon 'Fixing of uranium price costs US consumers millions'
      564 2 AP NEW York state Assemblyman Irwin Landes charged yesterday that price-fixing by world cartel "uranium club" has cost American consumers hundreds of millions of dollars and could threaten President Jimmy Carter's energy programme. He said uranium cost only about US$6 (5514.8) per
      AP  -  564 words
    • Article
      Lock icon Russians are keen on US energy bank plan
      347 2 AP SACRAMENTO, (California), Tues. The Soviet Union and other nations are interested in US Government proposals for a multinational energy bank and nuclear fuel centres for reprocessing and enriching uranium, says a US State Department official. In a briefing to the California
      AP  -  347 words
    • Article
      Lock icon Canada likely to resume supply
      154 2 AP VANCOUVER, Tues. Resumption of Canadian uranium sales to Japan are "significantly closer" following talks here between the two countries, Canada's External Affairs Minister Don Jamieson said yesterday. Canada halted uranium exports to Japan in January after negotiations to ensure Canadian control of it stalled.
      AP  -  154 words
    • Article
      Lock icon Low sugar price worries South Africa
      205 2 AFP DURBAN (South Africa). Tues South African Economic Affair* Minister Chris Heunia yeaterday expressed "serious concern" at the current price of the world's sugar. Speaking to the congress here of the South African Sugar Technologists Association, he said the world sugar price had dropped
      AFP  -  205 words
    • Article
      Lock icon $148 m loans
      37 2 AFP WASHINGTON, Tues. Two loans totalling US$62 million (SSI4B million) for two agricultural development projects in Nigeria were approved yesterday by the World Bank. The projects will directly benefit over a million people. AFP.
      AFP  -  37 words
    • Article
      Lock icon Rumania in petrochem venture with Kuwait
      477 2 AFP NICOSIA. Tues. Kuwait and Rumania were yesterday considering building a petrochemical complex costing U551,250 million (553.07 billion) at the Rumanian port of Constantza. according to the Middle East Economic Survey (Mees). The complex would provide a stable outlet for 160.000 barrels a day
      AFP  -  477 words
    • Article
      Lock icon Mondale seeks to share his confidence
      266 2 Reuter NEW YORK, Tues. Vice President Walter Mondale told some of America's top business leaders yesterday the Administration is confident the nation will "return to a track of steady and reliable economic growth, Increased employment and reduced Inflation." Speaking to about 300 members of
      Reuter  -  266 words
    • Article
      Lock icon Less silver to a dollar
      26 2 Reuter WASHINGTON, Tues. United States half-dollar and one-cent coins may soon be scrapped and the silver dollar may become smaller. Reuter.
      Reuter  -  26 words
    • Article
      Lock icon 28 firms taken off Arab boycott list
      201 2 Reuter ALEXANDRIA, Tues. Twenty-eight foreign firms were removed from the Arab boycott list yesterday after proving they had severed economic ties with Israel, boycott commissioner general Mohammed Mahgoub said. Mr. Mahgoub declined to identify the companies or their nationalities but said they had
      Reuter  -  201 words
    • Article
      Lock icon HIGHER PAPER BOARD OUTPUT
      186 2 AFP DUSSECOORF, TUes. Production of paper and board In West Germany totalled about 1.7 million tonnes in the first quarter of this year, 60 per cent more than in the corresponding period last year, official statistics showed yesterday. A representative of the National Paper Mills' Federation
      AFP  -  186 words
    • Article
      Lock icon Americans reject draft text of sea mining
      577 2 AFP AP UNITED NATIONS. NEW YORK. Tues. The United States yesterday rejected a draft text on the international status of exploitation of the ocean floor worked out at the Law of the Sea conference, the chief of the American delegation. Elliot Richardson, announced
      AFP; AP  -  577 words
    • Article
      Lock icon Incentive to retire
      163 2 Reuter PARIS. Tues. French i workers over 60 years old < may soon opt for early i retirement on 70 per cent of 1 normal pay under an agree- i ment signed today by the i employer's organisation and the main trade unions, i The agreement, which
      Reuter  -  163 words
    • Article, Illustration
      Lock icon UK govt to resist changes to finance bill
      471 3 Reuter LONDON, Tues. British Treasury ministers will today try to resist amendments to the 1977/78 finance bill which would give larger Income tax exemptions when Parliament resumes consideration of the bill, government sources said. The bill which details the government's annual budget
      Reuter  -  471 words
    • Article
      Lock icon Rosier outlook for Britain's economy
      408 3 Reuter PHILADELPHIA, PA.„ Tues. The British economy will improve gradually starting next year, the London Graduate School of Business Studies principal. R.J. Ball, said. He told a Wharton School seminar British real Gross Domestic Product is likely to rise 1.7 per cent in 1978 following
      Reuter  -  408 words
    • Article
      Lock icon Alaskan pipeline
      29 3 Reuter ANCHORAGE (Alaska), Tues. Alaska Pipeline Service Co said it told Prudhoe Bay oil field produces the trans-Alaska pipeline will go on stream on June 20. Reuter
      Reuter  -  29 words
    • Article
      Lock icon Canadian provincial borrowing will plunge
      99 3 Reuter OTTAWA. Tues. Lower financial needs in recent Canadian provincial budgets and the growing pool of Canadian pension plan funds Imply provincial government borrowing in domestic and foreign markets will fall substantially, the Conference Board in Canada said. The board, an independent, non-profit-making research organisation,
      Reuter  -  99 words
    • Article
      Lock icon Wholesale prices up in May
      103 3 Reuter LONDON, Tues. UK wholesale prices rose 1% per cent in May, unchanged from April rise, giving a 12month increase of 20*4 per cent, also unchanged from April, the Department of Industry said. On the input side, which will Influence future wholesale prices, the cost
      Reuter  -  103 words
    • Article
      Lock icon March trade surplus
      87 3 Reuter BRUSSELS. Tues. The Belgo-Luxembourg Economic Union had a provisional trade surplus of 1.7 billion francs in March, compared with an upward revised deficit of 9.9 billion francs in February and a deficit of 6.7 billion francs in March 1976. National Statistics Institute figure show. Exports in
      Reuter  -  87 words
    • Article
      Lock icon Seoul firm wins deal
      63 3 UPI BEIRUT, Tues. Saudi Arabia contracted with a South Korean construction firm yesterday for the electrification of 400 villages in the region of Asir. The Saudi press agency said. The 572 million Saudi riyal (***** million) project was awarded to the South Korean Hyandal Company which
      UPI  -  63 words
    • Article
      Lock icon Morgan cuts its prime by 1/4 point
      371 3 Reuter Reuter NEW YORK, Tues. Morgan Guaranty Trust Company, one of the biggest banks in the United States, yesterday lowered its prime interest rate from 6% to 6V4 per cent. The reduction, effective tomorrow, apparently surprised the banking industry because it reversed recent
      Reuter  -  371 words
    • Article
      Lock icon Money targets entail a train of problems
      344 3 Reuter BASLE, Tues. The Bank lor International Settlements said the adoption of targets for monetary policy Is an approach beset with difficulties and limitations. In its annual report the bank said monetary growth is difficult to control In the short run, and sudden
      Reuter  -  344 words
    • Article
      Lock icon Can banks cope with assessing country risks?
      312 3 Reuter BASLE, Tues. Doubts about whether some medium and even some large-sized banks can cope with assessing country risks which are being thrown into prominence by the changing structure of International bank lending are expressed by the Bank of International Settlements. In its
      Reuter  -  312 words
    • Article
      Lock icon 'Do not limit intervention'
      218 3 Reuter BASLE, Tues. Official intervention or other means of exchange rate management should not necessarily be limited to smoothing out minor exchange rate disturbances. In its annual report the Bank for International Settlements said where rates are floating Independently of any link with a major currency,
      Reuter  -  218 words
    • Article
      Lock icon Opec funds go to Europe
      68 3 Reuter BASLE, Tues. Continental European centres received nearly half the new Eurocurrency deposits of Opec countries last year, whereas London had received some 75 per cent of the total previously, the Bank for International Settlements said. The bulk of these funds, which totalled U5545.2 billion
      Reuter  -  68 words
    • Article
      Lock icon Kuwait'fund
      40 3 AFP AMMAN, Tues. The Kuwaiti Fund for Arab Economic Development Is to contribute 47 million dinars (about ***** million) towards the second stage of the A 1 Hussein electrical power station at Zarka, north-east Jordan, official sources announced here.
      AFP  -  40 words
    • Article
      Lock icon UNDP CAN DO MORE
      266 3 AFP Reuter GENEVA, Tues. The United Nations Development programme (UNDP) should offer a more effective service to under-prl-vileged countries, Mr. Brad-' ford Morse, Its administrator. said here yesterday. He said at the opening session of the UNDP's Governing Council that the programme was "uniquely placed to
      AFP; Reuter  -  266 words
    • Article
      Lock icon TREASURY BILL YIELDS FALL AT AUCTION
      184 3 Reuter WASHINGTON, Tues. The average effective yield on short-term government securities fell to 5 per cent for three-month bills and 5.167 per cent for six-month bills at the latest auction, the Treasury Department said. The three-month yield compared with 5.048 per cent at the
      Reuter  -  184 words
    • Article
      Lock icon FED 'NO' TO 11 REQUESTS LAST YEAR
      126 3 Reuter WASHINGTON, Tues. The Federal Reserve Board turned down 11 requests last year by district reserve banks to cut their discount rates, the board's 1976 annual report shows. The board four times in December rejected district bank requests to drop their rates to
      Reuter  -  126 words
    • Article
      Lock icon Carter warns of disaster over energy plans
      345 3 UPI WASHINGTON, Tues. President Carter said yesterday his energy programme Is the "gravest domestic Issue" his Administration ever will handle, and expressed hope Congress will reverse setbacks his proposals have suffered In House of Representatives committees. If not, Mr. Carter said, the American
      UPI  -  345 words
    • Article
      Lock icon Chrysler tells of $6m in foreign payoffs
      230 3 AP DETROIT. Tues. Chrysler Corp disclosed yesterday that Its foreign subsidiaries handed out some US$2.5 million (SS6.I million) in bribes, extortion money and other questionable payments between 1971 and 1976 to facilitate business overseas. The nation's No. 3 carmaker. in a filing with
      AP  -  230 words
    • Article
      Lock icon Sorting out the affairs of Gazocean
      179 3 AFP PARIS. Tues. A judicial administrator has been appointed by the Paris Trade Tribunal to sort out the financial affairs of the French company Gazocean. it was announced here today He is Mr. Jacques Pesson, who will try to Implement a recovery plan outlined
      AFP  -  179 words
    • Article
      Lock icon German reserves rise
      97 3 Reuter FRANKFURT, Tues. Germany's net monetary reserves rose DMIOO million (Sslo4 million) to DM85.2 billion In the week ended June 7, the Bundesbank said. Net currency reserves fell DM3OO million to DM73.1 billion. Non-currency reserves rose DM4OO million to DM12.1 billion due to a rise in the
      Reuter  -  97 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      154 2 Your Passport to business in Canada. Get to know Canada. Write us for a free copy of Businessman's Canada It's important information for businessmen about doing business in Canada THE ROYAL BANK OF CANADA 32nd Floor, UIC Building, 5 Shenton Way, Singapore 1, Tel: *****67 Telex: R*****1 Manager: Mr. A.
      154 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      315 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 p.m. on June 14 at Singapore airport. Maximum Temperature 30.7° C Associated Humidity 73 Minimum Temperature 24.0° C Associated Humidity 100 Hours of Sunshine 2.15 Rainfall in Millimetres 3 Total Rainfall for the Month 156.3 Total Rainy Days for the
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      46 3 Executive's Lunch Special 4 Mondays Bouillabaisse Marseilles m 5f y Tuesdays Roast Striploin of Beef Wednesdays Ox tail Stew Thursdays Roast Rack of Lamb Fridays Roast Rib of Beef Plus Bowl of Mixed Green Salad, Choice of Dressings. Price: $10.00 (plus Government Tax) No Service Charge
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    • Advertisement
      Page 3 Advertisements Column 2
      317 3 Many cars offer some of the things a\blvo does. No car in the same class offers all the things a\folvo does. This sounds like quite a claim. But if you check this list against any other car of the same class, you'll find that we're not just making idle talk.
      317 words
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  • COMPANY NEWS
    • Article
      T. Veneer on the way to recovery
      446 4 TROPICAL Veneer, the ailing plywood company which recently won a new lease of life from Its debenture holders, United Malayan Banking Corporation, took Its first steps to recovery last year. With a 93 per cent rise in sales to $12.64 million, the new
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    • Article
      PEOPLE IN BUSINESS
      69 4 BRITISH and Malayan Trustees Limited has announced the resignation of Mr. S.O.A. Alsagoff from its board of directors with effect from May 20. Mr. A.J.W. Owston has been appointed to the board of the following companies: Kuala Kampar Tin Fields Berhad, Berjuntai Tin Dredging Berhad, Kampong Lanjut
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    • Article
      Johan Tin suffers severe setback
      141 4 JOHAN Tin Dredging suffered a considerable setback in the year ended January 1977. Pre-tax profits declined by some 52 per cent to $36,214 during the year despite the up surge in tin prices. The decline was largely attributed to the sharp drop in production. From
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    • COMPANY MEETINGS
    • Article
      Straits Trading back on growth path
      410 4 AFTER a minor setback in 1975, Straits Trading steered itself back on to the growth path last year and group pre-tax profit rose 15.33 per cent to $29.2 million. AH the Increase was due to better trading results from its tin and rubber Interests.
      410 words
    • Article
      Change of name
      26 4 TEMENGGONO's whollyowned subsidiary, MacLalne, Watson (S.E.A.) Pte., has been converted Into public company and its name has been changed to MacLaine, Watson (S.E.A.).
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    • Article
      Fancy Tile still in the red
      134 4 FANCY Tile Works continued to operate In the red last year when a net loss of $479,900 was incurred compared with a loss of $709,693 in 1975. Trading loss amounting to $554,345 ($749,717 in 1975) was attributed to higher production cost and stiff competition.
      134 words
    • Article
      UIC's new venture
      72 4 UNITED Industrial Corporation has entered into a Joint venture with Albright and Wilson and formed a new company, UICMarchon, which will go Into the manufacture of a wider range of surfactants for the detergents, shampoo and toiletry Industries. Equity participation by the two companies will be on
      72 words
    • Article
      Swire and Harper form joint venture in HK
      279 4 HARPER Oilflllan and Swire Pacific have formed a Joint venture in Hongkong to market consumer goods. The new company, Swire Loxley, will start trading on Sept. 1. Under the agreement, Swire Loxley will acquire the imDort marketing business of W.R. Loxley and
      279 words
    • Article
      Tan Chong appointed
      62 4 TAN Chone Motor Holdings' newly-Incorpo-rated subsidiary, Tung Pau Sdn. Bhd.. has been appointed sole distributor In Malaysia for the products of Shisheido of Japan. In a short statement sent out through the Kuala Lumpur Stock Exchange. Tan Chong also said that it has set up a new
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    • Article
      100pc INCREASE IN EARNINGS AT QUE
      392 4 OVERSEAS Union Enterprise (OUE), operator of the Mandarin Hotel has reported a 100 per cent increase in net operating profit to $1.2 million last year. The future remains bright, with the hotel revealing that occupying rate and profit for the first four months of
      392 words
    • Article
      George Kent set for further growth
      273 4 GEORGE Kent has achieved a 16.6 per cent increase in group pre-tax profits to Just over $2 million in the year ended March 1977 Its third year of consecutive growth. While an appreciable part of the first half earnings of $912,000 was attributable to
      273 words
    • Article
      Lien Hoe profit up 33 pc
      154 4 PRE-TAX profit at Lien Hoe Industries rose 33 per cent to M 52.45 million last year. After a good first half, the company encountered very difficult trading conditions which have continued into the first half of this year. Lien Hoe is paying a final
      154 words
    • Article
      DIVIDENDS ANNOUNCED
      772 4 Current Ex Date Total for Total for payment Date payable the year previous year Taiping Consolidated 20% May 23 June 16 30% 27.5% l.O. Land 6% May 23 June 18 6% 6% Gold Coin 7% June 6 June 18 11% 11% O.U.T. 12% June 7 June 20 12%
      772 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      638 4 The American Express Gold Card is the world's most elite financial instrument Worldwide acceptance, immediate access to ready cash, billing and settlement locally in Singapore dollars. II I I The American Express |I I Gold Card, introduced JXUp by United Overseas 1 I I I Bank, is unlike any I
      638 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Condotte may give aid to Generale Immo.
      191 5 Reuter ROME, Tues. The stateowned water company Condotte D'Acqua will only help save Soclete Generale Immobillare if negotiations Condotte is having with a North American group, to return to the private sector are successful, Condotte president Mr. Loris Corbi said. Speaking at the
      Reuter  -  191 words
    • Article
      Lock icon Alsthan Atlantique blacklisted in Iran
      166 5 AP TEHRAN, Tues. A French company, Alsthan Atlantique, was blacklisted yesterday for alleged negligence in failing to complete on time the US$5OO million Reza Shah Dam in south-western Iran. Prime minister Amir Abass Hoveida blamed Alsthan for the delay. The Shah's special aide and chairman
      AP  -  166 words
    • Article
      Lock icon F. Ferodo
      33 5 Reuter PARIS. Tues. Francaise du Ferodo said its Hydroland division has received a 58 million franc contract from the Republic of Vietnam to supply 20 dredgers and two harbour craft. Reuter
      Reuter  -  33 words
    • Article
      Lock icon SEC asked to delay review
      267 5 NORTH AMERICAN COMPANIES Reuter THE American Stock Exchange said it asked the Securities and Exchange Commission to. delay review of the proposed option trading rules package filed last week by the New York Stock Exchange. In a letter to the SEC, the Amex said review
      Reuter  -  267 words
    • Article
      Lock icon Honeywell extends offer
      67 5 Reuter LITRONIX said Honeywell has extended acceptance of Its acquisition proposal for Litronlx from June 10 to June 16. Litronlx said Its directors authorised acceptance of the offer, but a committee of its unsecured creditors disapproved of the proposal In its present form. It is discussing possible
      Reuter  -  67 words
    • Article
      Lock icon SEARS HOLDINGS BIDS FOR AVIS STOCK
      225 5 UPI AVIS the rental car firm, said yesterday a British firm has expressed its desire to acquire the company's stock. The British firm is Sears Holdings, a conglomerate with interests in the apparel and automotive industries. Alto part of the company, which has no
      UPI  -  225 words
    • Loans
      • Article
        Lock icon Iran's US$250m credit
        85 5 Reuter LONDON, Tues. Tele- communications of Iran is I raising a US$25O million < syndicated Eurocredlt for < seven years, Eurocurrency bankers said. Margin is 7/8 per cent over London Interbank offered rates (Libor) for the 1 first four years and one per 1 cent over Libor
        Reuter  -  85 words
      • Article
        Lock icon Renfe Eurocredit
        57 5 Reuter DUESSELDORF. Tues. The US$l3O million seven year Eurocredlt for the Spanish rail authority Renfe was signed yesterday, lead manager Westdeutsche Landesbank Olrozentrale said. The credit, guaranteed by the Kingdom of Spain, carries a spread of 1H per cent over London Interbank offered rates for the first five
        Reuter  -  57 words
      • Article
        Lock icon Venezuelan offering
        55 5 Reuter NEW YORK. Tues. A syndicate headed by Morgan Stanley said it tentatively priced US$lOO million of triple-A rated Republic of Venezuela notes, due 1982, at 99.895 with a V/% per cent coupon to yield 7.90 per cent for proposed offering today. Selling concession has been set at
        Reuter  -  55 words
      • Article
        Lock icon Birmingham
        28 5 Reuter LONDON, Tues. The Birmingham local authority is issuing a C3O million 12 Vi per cent bond issue, dated 1985, at 97 Vi, market sources said. Reuter
        Reuter  -  28 words
      • Article
        Lock icon Mexico 5-year notes
        90 5 Reuter AMSTERDAM, Tues. The United States of Mexico will privately place up to 75 million guilders of B'/« per cent five year notes outside Holland priced at 99 v a per cent, Algemene Bank Nederland said. Redemption is on July 15, 1982 with earlier redemption not permitted.
        Reuter  -  90 words
      • Article
        Lock icon Imatran Voima Eurobond increased
        110 5 Reuter LONDON. Tues. Finnish utility I mat ran Voima Osakeyhtio's 10-year unit of account Eurobond has been increased to 25 million European units of account from the originally conceived 20 million and priced at 100'4 per cent reflecting favourable response to the issue, Kreditbank Luxembourgoise said.
        Reuter  -  110 words
    • Article
      CHICAGO BOARD OPTIONS
      1270 5 On June 13 TRADING in puts and call options on the Chicago Board Options Exchange came to 74,785 contracts on Monday compared with 70,098 contracts last Friday. OPTION JLY OCT JAN STOCK Alcoa SO 41/2 UNTRD 61/8 537/8 Alcoa 60 1/18 15/18 11/2 537/8 Am Tel 55
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    • Article
      Lock icon Asso. British Foods enjoys profit rise
      236 5 UK COMPANIES Reuter ASSOCIATED BRITISH FOODS achieved a 22.3 per cent jump In pre-tax profit to £80.36 million (£65.69 million) in the year ended April 2, 1977. The profit increase came on the back of a sales rise of only 14.6 per cent to
      Reuter  -  236 words
    • Article
      Lock icon Concrete directors reject NCI proposal
      154 5 AFP DIRECTORS of Britain's Concrete Limited firm yesterday sent out circulars to shareholders recommending that they should reject a weekend takeover bid by the Saudi Arabian company National Chemical Industries (NCI). The directors said that the offer for the share capital was insufficient. Concrete Ltd.
      AFP  -  154 words
    • Article
      Pilkington Bros achieves buoyant results
      154 5 PILKINGTON BROS lifted pre-tax profit for the year ended March 31, 1977 by 81.3 per cent to £62.72 million from C 34.69 million on sales on £390 million (1303 million). This constitutes earnings per share before extraordinary Items of 51.3p (24.8). Licensing Income rose to
      154 words
    • Article
      Lock icon Profit jump at Harcros
      127 5 Reuter ON A 35.4 per cent rise in turnover, Harrisons and Crosfleld has achieved a 90 per cent Jump In pre-tax profit to £23.17 million (£12.19 million) last year. Turnover rose to £528 million from £390 million previously. Earnings per share came to 57.8p compared with
      Reuter  -  127 words
    • Article
      Lock icon Pioneer, MCA venture
      87 5 ASIAN COMPANIES UPI TOKYO, Tues. MCA. of the United States, and Pioneer Electric of Japan signed an agreement of launch an equally-owned joint venture In Japan to develop and manufacture optical vided disc players for the world-wide industrial market, the companies announced. The agreement, signed by MCA
      UPI  -  87 words
    • Article
      Lock icon Anderson merger approved
      208 5 Reuter HONGKONG. Tues. Anderson (Holdings) and Asia Stone said they have agreed on terms for the proposed merger between the two companies. Anderson will offer three of its 50 HK cent shares for five $1 shares In Asia Stone, and a terminal dividend of five cents per
      Reuter  -  208 words
    • Article
      Lock icon Borden delisting
      47 5 Reuter TOKYO, Tues. The Tokyo Stock Exchange said trading In Borden shares here will end on Sept 14 following approval of the US company's delisting plan. Borden shares were today moved to the liquidations post, as is customary prior to delisting, the exchange said. Reuter.
      Reuter  -  47 words
    • Article
      Lock icon PETER DRUCKER METHOD OF MANAGEMENT
      1080 5  -  By Nicholas Leslie FT NEVER have managers questioned so deeply what sort of leadership they should provide, and what It is that motivates them In their jobs, as In the last three recessionary years. In the U.K. a depressed economic climate, high Inflation, pay restraint
      FT  -  1,080 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      156 5 Because You Insist On I atz i 2 mini-Golf course A Huge Plot of Open Land with a Very Limited Number of Units. An Apartment with a Bungalow Atmosphere. Spacious Children's Playground Garden. A Relaxing and Serene Environment. Forestry Surroundings. UoU £\p Linked with Botanic Gardens. a ys V Highly
      156 words
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  • Article
    Share Information Service
    2191 6 1977 High Lot CwiHUr Last Sab Qr*t Dfcr e*Tr Or** C 1 Nat P/E V«l Day High Ln SECTION ONE INDUSTRIALS 146 133 204 92* 215 101 198* 163 219 392 136 127 204 58 212 57 155 152 182 350 Acma Acma A Alcom Allied Choc
    2,191 words
  • Article
    Transactions in Singapore
    1445 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board
    1,445 words
  • Article
    In Kuala Lumpur
    1515 6 BID and offer prices officially listed and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless otherwise specified INDUSTRIALS Aema (1.408 1.458) (1) 1.40. Alcorn <1 768 1.788) <1) 1.75,
    1,515 words
  • Article
    Stock options
    111 6 STRIKING prices at the stock options officially listed on the Stock Exchange at Singapore, the periodsThM and offer prices and business done yesterday, with the number of options traded shown In brackets. D.B.S. (June $3.90) (0.075) (Dec $3.60) (0.258) Inchcape (June $2.40) (0.168 0 18S) (10) 0.10. (1)
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  • Article
    Unit trusts
    141 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' priew far Jum 11) (Correal pric ■a) The Commerce.... 1.71 l.tlxd INCOME BOND 1.06 1.11 The Saving Fund 0.94 0 98 MARA BUMIPUTRA FUND S pore Prog Fund 0 84 0.89 (Mauf prioM 1 ar Jum 11) Sj»re Security Fund 1.51
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  • Article
    CORPORATE BONDS
    129 6 B O T 8 1/2% 1981 (100.000) (102 HB 103S) B O T 7 5/8% 1984 (100,000) (98V.8 995) D B S 8 1/2% 1982 (100.000) (100 SB 101 DBS Convert* 6 1/2% 1991 (100.000) (98HB 98%5) EI 89% 1982(100.000)(103*4B 104S) E I B 8 1/4% 1983 (100.000)
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  • Article
    GOVERNMENT BONDS
    140 6 Rep Spore 7 3/4% 1987 (100.000) (99%8 100HS) Rep Spore D Mark 7% 1982 (100.000) (100*>B 101'»S) Rep Spore D Mark 6 1/2% 1983 (100.000) (98%8 99HS) 5 1/2% 1/4/78 (250.000) (101.458 101 555) 5 1/2% 15/4/78 (250.000) (101 40B) 5 1/4% 15/7/78 (250,000) (101.498 101.58S) 4 3/4%
    140 words
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      32 words
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  • Article, Illustration
    UPSURGE IN BUYING
    571 7 STRONG buyiag support in the last hoar of trading pushed up prices on the Stock Exchange of Singapore yesterday. Most shares ended the day with good gains after ruling from bo rely steady to steady for most of the session. Blue chips found good support to finish
    571 words
  • Article
    SIMILAR TREND IN KL
    388 7 PRICES recovered from an easier opening to finish with small gains on the Kuala Lumpur stock market yesterday. While lower-priced issues managed to reduce their Initial losses, the recovery was more pronounced on Industrial blue chips. The opening market saw an extension of some overnight selling
    388 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      365 7 HONOKONO: The market drifted lower on profit taking In quiet, dull trading on Tuesday, although some buying interest re-emerged towards the close, dealers said. The Hang Seng index dropped 2.24 points to close at 443.65. Hongirang Deck fell 40 cents to $12.00 Hutchison five cents to $3,375, Swire Pacific
      365 words
    • Article
      Tokyo
      497 7 TOKYO: Share prices closed lower on liquidations in blue chips and export-oriented shares following the appreciation of the yen. dealers said on Tuesday. The Dow Jones average lost 12.81 to close at 4.913.68 with volume 100 million shares The New index closed at 372.16. down 0.65. Electricals led the
      497 words
    • Article
      Sydney
      396 7 SYDNEY: The market closed lower again on Tuesday, after the lower close In London, dealers said. The Sydney All-Ordinaries index closed 2.25 points down at 455.71. BHP fell eight cents to $6.62, Tooth three cents to $1.72, ICI three cents to $1.94. The Wales four cents to $5.10 and
      396 words
    • Article
      Manila
      206 7 MANILA: The market closed mixed with minings posting minimal gains,despite decreased metal prices abroad. In sluggish trading, dealers said on Tuesday. Lepanto and Marinduque closed two and one points higher, respectively. Philex fell two points, while other mining issues were unchanged. San Miguel and Meralco fell while In oils
      206 words
    • Article
      Bangkok
      99 7 JUNE 14 BahU Asia Fibre 176 unch Bangkok Bank 303 +2 Bangkok Invest 17> 4-1 Bangkok-Metro-politan Bank Bata 481 Berll Jucker 262 -2 CharoQng Thai Wire 1M Dumex Dusit Tha.ni 2*08 Faber Merlin First Trust Indo-Thal IMS Industrial Finance Corp 1105 J And J Ho 214 Jalaprathan Cement US
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    • Article
      Amsterdam
      320 7 AMSTERDAM: The market generally closed slightly firmer in continued quiet trading, dealers said on Monday. However. Dutch internationals were mixed, with Philips and Royal Dutch slightly firmer Akzo and Hoogovens edging lower and Unilever unchanged. Elsewhere, shares were narrowly-mixed, with gains slightly predominating. Amro led banks firmer. LHC and
      320 words
    • Article
      Brussels
      171 7 BRUSSELS: The market was quietly mixed In thin trading, dealers said on Monday. Local Issues to rise included FN, ST Roch, CoMtri and Arbed, while Societe Generate, Traction and CBR fell. Solvay was slightly higher, following favourable weekend press comment and the chairman's forecast of regular but feeble sales
      171 words
    • Article
      Zurich
      251 7 ZURICH: The result of the public vote not to introduce the value-added tax In Switzerland did not Influence the Zurich stock exchange on Monday. It would appear that this was already discounted. The market closed Irresolutely without showing a specific trend. Bank-shares were rather offered, but on small trading
      251 words
    • Article
      Jo'burg
      326 7 JOHANNESBURG: Gold shares tended easier after maintaining firmer opening levels In the morning, dealers said on Monday. They said the later market trend was in line with the lower bullion price and some London selling Heavyweights generally lost up to 40' cents. but W.Dries shed 225 cents to 2.675.
      326 words
    • Article
      Toronto
      321 7 TORONTO: Share prices closed higher in light trading on Monday. The composite Index was up 4.8 points and advances outpaced declines 209 to 181 Among Index leaders, real estate and construction added more than 15 points, metals 8.9 and financial services 8.1. Koodcrop climbed 1H to 844. General Motors
      321 words
    • Article
      Milan
      163 7 MILAN: The market closed lower over a broad front In fairly active trading under rather heavy selling pressure, dealers said on Monday. The bank rate cut had little effect on the market, they said All leading Industrials lost ground as did Insurances and banks. Bonds, however, ruled fairly active
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    • Article
      Paris
      369 7 PARIS: The market was basically firm despite easier oil shares and Irregular banks, dealers said on Monday Navigation Mixte featured with Its quotation suspended today at 192 francs against 177 on Friday. Delama-Vieljeux Is offering 140 francs for the shares, which traded at 128 before suspension on May 31.
      369 words
    • Article
      Frankfurt
      76 7 FRANKFURT: The market closed mixed In quiet trading, dealers said on Monday. In higher electrlcals, Siemens rose 2.80 marks, while In utilities. Veba eased one mark. In otherwise weaker autos, Daimler gained 0.30 marks. Bond market prices closed up to 0.45 marks higher, with the regulating authorities In Frankfurt
      76 words
    • Article
      New York
      1129 7 NEW YORK: The stock market extended Friday's rally to record a small gain on Monday in moderate trading. Analysts said traders were pleased by the outlook for short-term Interest rates, expected to remain stable over the near term In view of the recent slowdown of money supply growth.
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    • Article
      Indices
      51 7 FINANCIAL TIMES INDUSTRIALS 448 1 449 4 Week ;ieo DOW -JONES AVERAGE INDUSTRIALS 912 40 910 79 903 07 LONDON DOLLAR PREMIUM Mon<1;iv IM'i to 114*Erlrtav 113'. to 114*4 II.k.IIANG SENG Week mkd 44A 04 SYDNEY INDUSTRIALS 375 64 375 16 AM. ORDINARIES .457 96 Week njro 461 66
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    • Article
      Lock icon Commission sets loan limits
      154 7 Reuter ZURICH. Tues. The Swiss Federal Loan Commission has set the amount of new money to be raised by domestic borrowers on the Swiss capital market at 1.2 billion francs for the third quarter of 1977 compared with 1.1 billion in the second quarter and 1.4
      Reuter  -  154 words
    • Article
      Lock icon Dresdner Bank bond
      65 7 Reuter i FRANKFURT, Tues. Dresdner Bank said Its 395 million mark maximum six year convertible bond to be issued by its Luxembourg unit Cle Luxembourgegeoise de la Dresdner Bank has a five per cent coupon. The convertible bonds will be offered at par to shareholders from June
      Reuter  -  65 words
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      43 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      461 8 THE Singapore rubber market yesterday started about 0.75 cent lower following easier London advices and later lost a further one cent on stoploss and Japanese selling of forwards, before fluctuating fractionally In quiet and rather uncertain trading, dealers said. Nearby August, September and October/ December
      461 words
    • Article
      SSR AND SMR
      347 8 Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S S. prompt f.o.b. 190 00 191.OON 192.00 193.00 Int 1 R.S S. July 192.50 193.00 192.50 192.75 Int 1 R.S.S August 195.25 195.75 195.00 195 50 Int 2 R.S.S 189 00 191. OON 190
      347 words
    • Article
      R.A.S. PRICES
      90 8 R.A.S. July Aucust (Current Mth) (Forward Mth) Buyn* Seller* Buvr r« Sellers <eei itaparkc) nt. per kg SSR20 (1-ton Pallet) 192.00 193.006 193.90 194.50N SSR50 (1-ton Pallet) 189 30 190.50N 191.00 192 00N M.R.E.L.B. SMRSCV (1-ton Pallet) 218 50 218.50N 217.50 219.50N SMR5L (1-ton Pallet) 215 00 217.00N
      90 words
    • Article
      Closing prices
      30 8 Rubber: June 14 Singapore: July 192.50 cU (down 1.75 cU.) Malaysia: July 193.50 ctc (down 2.00 cti) Tin: $1,41$ (down $19) Official offering: 212 tonnes (down 13 tonnes)
      30 words
    • Article
      Cocoa
      194 8 LONDON. Tues. Terminal cocoa finished an eratlc opening call £16.50 up from last night (Dec at £2,532.50) to £10lower, having staged an early £40 limit gain in near Sept at £2,758. On Monday, futures closed the afternoon £70 to £27 per tonne down on sales of 4,651 lots. In
      194 words
    • Article
      Produce exchange
      518 8 AN easier trend continued to prevail In the Singapore commodity market yesterday where trading was light and confined to small lots of five or ten tons. Peppers were again under pressure in the absence of advices and acceptances from the European ports. Buyers, here, too were mainly holding
      518 words
    • Article
      Coffee
      408 8 LONDON, Tues. Coffee futures halted the recent decline to close the opening call with gains against last night of £64 to £37 per tonne. 935 lots were traded of which around 200 were self trades. The market tone was 'very steady.' Dealers said the gains were a technical adjustment
      408 words
    • Article
      Palm oil
      86 8 CIF Rotterdam prices LONDON: M&laysia 5% (fa bulk Aug/Sept Sumatra 5% Afloat June July Aug Sept Nov Nigerian 5S ffa bulk Sterling per long ton ROTTERDAM: Sumatra July Any Origin Jun Zaire Bel franc per klld Monday unch unch MO Ilr #37 50 sir 832 50 ilr 430
      86 words
    • Article
      Straits tin market
      217 8 THE Straits tin price In Penang yesterday was down $19 to $1,416 on an official offering down 13 tonnes to 212 tonnes. In" LOUDON yesterday morning, tin fell by £172 per tonne for cash and £174 for Three Months In both contracts. General liquidation gathered momentum and
      217 words
    • Article
      Sugar
      175 8 LONDON. Tues. Terminal sugar In the morning lost an initial £3.20 (near Aug at £113.75 bid) to £0.85 per tonne from last night although prices were only marginally down from kerb levels. The London dally raws price was £3 down at £110 while whites were quoted at £128 £1.50
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    • Article
      Rice
      224 8 BANGKOK, Tues. Indicative prices for rice quoted here were: (U3 dollars per tonne fob basis Bangkok) white Rice 100 per cent Ist class 297 100 per cent 2nd 282 100 per cent 2nd 278 100 per cent 3rd 278 5 per cent 265 10 per cent 240 15 per
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    • Article
      Hongkong comex
      301 8 HONGKONG. Tues. Cotton futures closed lower with losses ranging from 1.02 to 1.50 US cents In fairly quiet trading, dealers said. March was most actively traded due to Its large number of open positions. October and July were untraded on lack of buying interest. they added. Total turnover
      301 words
    • Article
      Soybeans
      281 8 CHICAGO, Tues. Soybean futures fell sharply in early dealings yesterday and were down 25H to 20 cents a bushel after an hour of trading. Local and commission house selling pushed prices lower as selling was Influenced by lack, of overseas demand. Commercials appeared on the buy side on the
      281 words
    • Article
      Wheat
      89 8 CHICAGO, Tues. Wheat futures continued to lose ground In early trade yesterday and again set contract lows. After the first hour of dealings, prices were off 2 1/4 to 1 1/2 cents a bushel. Wheat futures finished the session with losses of 2 3/4 to 4 1/2 cents a
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    • Article
      Copper
      305 8 LONDON, Tues. Copper wlrebars In the morning lost £4.50 per tonne for cash and £5.50 for Three Months. Values held steady In the early pre-market following the New York trend but then gave ground on the continued decline In gold and the sharp fall In tin, dealers said. In
      305 words
    • Article
      Silver
      285 8 LONDON, Tues. Silver in the morning eased by 1.5 to 1.9 pence per troy ounce. Fresh selling took Three Months from 258.4 pence in the pre-market down to 256.1 pence in the ring before final trading at 256.2 pence. The relatively steady bullion dealer's fix gave interim support although
      285 words
    • Article
      Gold
      455 8 GOLD collapsed under constant selling pressure on Monday night which brought the prices down In the US market to U*****.80 from the previous closing of US$l4l.lO. In the Singapore market yesterday, the kllobar opened at 5511,035 and strong shortcoverlng firmed prices to a high of $11,070 before settling around
      455 words
    • Article
      Lead
      64 8 LONDON, Tues. Lead in the morning was £5.50 down for cash and £5 lower for Three Months. Three Months traded from £315 in the premarket down to a low of £307 in the ring before stabilising to finish the kerb at £307.50. Values then eased until meeting some fresh
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    • Article
      Zinc
      62 8 LONDON, Tues. Zinc ended the morning €1.50 and L 3.50 lower for cash and Three Months respectively. The market held relatively steady compared with the decline in other metals. Business was conducted in a narrow range from C 303 in the pre-market to £301 in the ring before finishing
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      582 8 THE US dollar staged a strong recovery In the Singapore foreign exchange market yesterday following its fall against the yen on Monday. The market here saw volatile movements in the dollar rates during the morning hours. At the start of the trading session here, the dollar moved up to
      582 words
    • Article
      Minimum lending rates
      46 8 AOBC «v, First Chicago CH Algemene Bank S l Bangkok Bank 7 Citibank C* HSBC Bank of America Bank of China 7 Bank af Tokyo Bank Nogara Indoauez CH Malayan Banking Mitsui Bank OCBC UCB 7 Chase Manhattan «v. DBS UMBC 7 (JOB
      46 words
    • Article
      Asian $ rates
      186 8 Asian rates ASIAN rates as currency deposit Interbank at cloie on June 14 US Dollar* (Spat) Offer Bid 7 days 5 9/1# 5 7/16 1 mth 5 1/2 5 3 8 2mths 5 11/16 5 9/16 3 mths 5 13/16 5 11/16 6 mths 6 1/16 5 15/16 fl mths
      186 words
    • Article
      Discount
      46 8 RANGE of prices offered by discount houses on June 14 Overnight 3% Call deposit 3* Cloainf Buy Seilinff 3-Month Treasury bills 3 1/16 215/16 3-Month Bank bills 4 1/8 4 3-Month CD 4 1/2 41/8 6-Month CD 4 5/8 41/2 Source: National Discount Co. Ltd.
      46 words
    • Article
      Euro $ rates
      150 8 Euro rates LUNUON, Tues. Eurodollar deposits rates eased slightly In quiet trading, dealers said. The easier trend followed the cut In prime rate to 6Vi per cent from 8% per cent by Morgan Guaranty Trust and the lower yields on US Treasury bills. The One Month position was additionally affected
      150 words
    • Article
      New York
      202 8 NEW YORK. Tues. The dollar weakened against all currencies In late trading here yesterday after Morgan Guaranty cut the prime rate to 6Vi per cent from 6*4 per cent, dealers said. Concern about lower US Interest rates depressed dollar which had earlier shown a firmer trend against European
      202 words
    • Article
      London
      205 8 LONDON. Tues. The dollar weakened slightly In quiet, early trading here after Morgan Guaranty Trust cut its prime rate to 6'/* per cent from 6 3 /4 per cent, dealers said. They noted this continued a trend of narrowing interest rate differentials between major European currencies and the dollar,
      205 words
    • Article
      Tokyo
      91 8 TOKYO. Tues. The yen fluctated initially, amid speculation that the Bank of Japan intervened on a small scale to prevent a further rise in its value against the dollar, dealers said. The dollar for overnight delivery fell to 270.90 yen at one stage, after opening at 271.70 compared with
      91 words
    • Article
      Hongkong
      52 8 HONGKONG foreign exchange market report was unavailable. HONGKONG banknotes quoted on June 14 US 4 67/4 69 UK 8 15/8.25 Burma 1.00/2.00 India 4 60/4.80 Indonesia 1.10/1.13 Japan 1.71/1.72 Korea 0 92/0 95 Philippines 0.587/0 807 Singapore 1.88/1 90 Malaysia 1.885/1 905 Brunei 1.87/1.89 Thailand 22 00/22 30 Taiwan
      52 words
    • Article
      Zurich
      58 8 ZURICH exchanges closing quotes on June 13 US 2 4906-4912 UK 4 2795-2808 Can 2 3558-3570 W Germ 105 63-68 Neth 100 65-71 France 50.34-36 Belg 6 90 1/2-91 Denm 41.21-22 Norw 47 24-26 Swed 56 34-36 Italy 0 2812-2813 Austria 14 83-84 Port 6 44-45 Spain 3 59
      58 words
    • Article
      Australia/NZ
      63 8 AUSTRALIA/ NZ exchanges quoted on June 14 Australia Sterling 0 6489 0 6420 US dollar 1.1123/ 1 1075 Ninety-day air mall buying rates Sterling 0 6673 US dollars 1 1377 Ninety-day forward buying rates: Sterling 0 6499 U8 dollars 1/1011 New Zealand Sterling 0 5616/ 0 5585 U8 dollar
      63 words
    • Article
      Frankfurt
      39 8 FRANKFURT exchanges opening quotes on June 14 Can 2.2275/95 UK 4 045/055 Neth 95 23/33 SwtU 94 45/55 Italy 2 655/665 France 47 60/70 Nor* 44 68/76 Brig com 6 53/54 Brig rin 6 53/56 Japan 0 8640/55
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    • Article
      Eurobond prices
      307 8 LONDON, Tues. Straight dollar Eurobonds were up to K per cent firmer in active trading. Convertible dollar Eurobonds were steady and basically unchanged in quiet trading. LONDON Eurobond prices quoted on June 14 STRAIGHTS BID OFFER Austria B*. 90 101% 102* Bell Canada 8% 86 104'% 105S BFCE
      307 words
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      Page 8 Advertisements Column 1
      43 8 PLEASE REMEMBER! CHANGE OF ADDRESS AND TELEPHONE NUMBERS Asia Research Pfre Ltd *****45/6 Far East Trade Press Group *****17 *****93 Travelnews Asia *****07 All of the above 3 companies are now housed at: Room 2815, 28th floor International Plaza, Anson Road Singapore 2.
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Oil spills are more deadly than you imagine
      515 9 NYT NEW YORK, Tues. The popular belief that evaporatlon, wave action and photochemical reaction from sunlight tend* to diminish quickly the toxicity of oil spills has been called into question by recent scientific experiments. A group of researchers from the Academy of
      NYT  -  515 words
    • Article
      Lock icon Satellite news — UPI is first
      203 9 Satellite news UPI is first UPI ANAHEIM. (California), Tues. News and picture service from United Press International's world headquarters in New York are being transmitted to Anaheim via satellite for the American Newspapers Publishers Association research institute production-management conference. James Darr. UPl's vice president for systems development, said the transmissions
      UPI  -  203 words
    • Article, Illustration
      STABLE PROFITS ARE VITAL TO THE AIRLINES
      584 9  -  Br TERESA LIM THE world's airlines need ten stable earning years before they can be In the position efficiently to finance necessary new equipment, essential if productivity is to be improved and costs offset. "The fact is," warned Mr. Knut Hammarskjold, director general
      584 words
    • Article
      Lock icon How to look good on the small screen
      559 9 Reuter NEW YORK: For the past five years, J.. Walter Thompson has coached more than 1,500 businessmen in the art of coming across well in a television interview. A group of Thompson's own executives here recently took the agency's twoday telecommunications course,
      Reuter  -  559 words
    • Article, Illustration
      IN PORT
      427 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge Sin Lian Huat 3 (0700) 41 Capricorn (after Georgiy Chicherin) (Draft 9.75 m) 3334 Fratario (1500) (Departure Draft 9.75 m) 47 Klmanis (1500 shifts) (Agents request) 27/28 King Fish (0600 24 Korean Mail (1800) (Draft 9.75 m) 46 Kota Singapura (1700) (After
      427 words
    • Article
      Lock icon London freight market
      205 9 AP LONDON, Tues. Rates paid on the London freight market yesterday remained unchanged. North American grain became slightly more prominent In weekend fixing but rates held steady. US Gulf-Japan grain fixing proved the most active source of new business as charterers paid US$9.5O (F10) to the 30,000-ton
      AP  -  205 words
    • Article
      CIVILIAN CONTROL
      66 9 TEL AVIV, Tues. Air traffic control at Ben Ourlon International Airport has been handed back to civilian controllers after air force personnel had directed operations throughout Israel for 18 days. Military controllers were brought In when the civilians were suspended from work after they had seriously disrupted normal
      66 words
    • Article
      Lock icon Airbus takes top honours at Paris
      186 9 Reuter PARIS, Tiies. Europe's Airbus stole most of the honours among more than. 250 aircraft from 20 countries displayed at the 10-day Paris International Air Show which ended on Sunday. The 300-seat widebodled airliner, constructed by France In partnership with West Germany, Holland and
      Reuter  -  186 words
    • Article
      Seminar opens
      74 9 THE five-day seminar on the "Design, Management and Future of Distributed Processing, Data Base, Teleprocessing and Network Systems" opened yesterday. It attracted about 107 delegates from Taiwan, Hongkong, New Zealand, Sweden and the five Asean countries. The main speaker at the seminar Is Mr. James Martin of IBM,
      74 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      558 9 ARRIVALS Service Local Operator Number Time From TMA TL304B MAS MH682 PAN PA847 CPA CX710 SIA SQ211 OIA GA980 THAI TG423 THAI TG981 OIA OAOO8 PAL PR501 SIA SQ240 RBA BI325 SIA SQ201 MAS MH684 OIA OA982 OIA OA944 SIA SQ609 SIA SQ455 AI AI402 SIA SQ203
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      Lock icon LANDING FEE AT NARITA
      117 9 AFP TOKYO, Tues. A landing fee at the new Tokyo International Airport in Narita. northeast of Tokyo, will be 1,900 yen (SSI7) per ton, It was learned today. The Tokyo International Airport Authority (TIAA) will start talks in Tokyo on June 28 with the International Air
      AFP  -  117 words
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      192 9 GRavihE Always fighting to make the world safe from fire. n mn "•V* mti mm O e r I SX -Mr > jpar mm »:>•> fc 5. A i For four decades ORAVINER hat bean an intamational nama in the ax acting field of fira and explosion technology. Serving with
      192 words
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    Lock icon UHURU
    1058 10  -  After 30 years the call remains the same and the problems seem intractable as ever By LARRY HEINZERLING AP TWENTY YEARS after the first colonial flag was lowered in black Africa, the continent is still plagued by political, economic and social turmoil. But, there are also signs of progress.
    AP  -  1,058 words
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    Lock icon The common umbrella of urban suffering
    912 10  -  By PETER MOSLEY Reuter SOWETO, (Johannesburg): One year after giving birth to the black rioting that rocked white-ruled South Africa to its core, Soweto township is a black city that mingles fear and laughter. Laughter, it seems, at the very shortness of life; baffled
    Reuter  -  912 words
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    Lock icon And there she blows!
    568 10  -  JAPANESE FACE LOSS OF MAJOR PROTEIN SOURCE By TEIJI SHIMIZU UPI ENVIRONMENT A LISTS and new global territorial rules may force the Japanese to abandon their penchant for whale meat which they have been devouring with gusto for 1,000 years. Whale Is a vital protein source
    UPI  -  568 words
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    Lock icon Viva Espana
    816 10  -  AS Spain goes to the polls today for the first time in 41 years, it is ironic that one of the most likely results of this long overdue taste of democracy is nothing more than another election. By ERNESTO MENDOZA Reuter MADRID: Spain's first free elections in 41
    Reuter  -  816 words
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    Lock icon BUFFERS TO HELP BOTH SIDES
    1129 10  -  By CLYDE FARNSWORTH NYT EFFORTS TO control international commodity markets, far from representing a new idea, go back to the earliest days of this century with the organisation of international conferences on coffee and sugar in 1902 and a valorisation scheme to stabilise coffee back
    NYT  -  1,129 words
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      102 10 Anybody Looting For Finance NeedsaGoodMinglb! And IBS are just the people who can do the job. On any aspect of finance, International trade, Foreign Exchange, Industrial Financing and a whole broad range of credit facilities designed for your corporate needs. We don't just talk we make it our business to
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    Lock icon Taiwan textile exports take a hard knock
    272 11 AFP TAIPEI, Tues. Taiwan's textiles exports In the first four months of this year registered a steep drop of US$l2O million (***** million) or 16.2 per cent from the same period last year. The Economic Planning Council, quoting Customs figures, said the sharp
    AFP  -  272 words
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    AID FOR REFUGEES SOUGHT
    115 11 LONDON. Tues. A Sabah delegation, led by the Chief Minister, Dato Harris Salleh. left here last night for Saudi Arabia to get support for a US$25O million (Ss6ls million) scheme to resettle about 90,000 Filipino Muslim refugees in the East Malaysian state. Under the scheme, the
    115 words
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    Lock icon Cocoa in Thailand
    74 11 Reuter BANGKOK. Tues. The Industrial Finance Corporation of Thailand (IFCT) said it is prepared to promote cocoa plantations in Thailand by granting loans and providing technical information. It said joint research by the IFCT and the Board of Investment found cocoa would be a very suitable crop
    Reuter  -  74 words
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    Lock icon We are not gearing for trade war, KL assures Aussies
    385 11 Reuter MALAYSIAN trade officials today confirmed that they are planning to narrow the trade deficit with Australia, but denied suggestions that they are gearing up for a trade war. "We are an exportorientated economy, and we have been consistently advocating
    Reuter  -  385 words
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    Lock icon Japanese customs clearance trade suffers $152 m deficit
    313 11 Reuter TOKYO, Tues. Japan had a US$6l.9 -million (SSIS2 million) preliminary customs clearance trade deficit In May compared with a downward revised surplus of $1.1 billion in April and a $24.2 million surplus in May last year, the Finance Ministry said. The
    Reuter  -  313 words
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    NOL service
    25 11 NEPTUNE Orient Lines (NOL), Singapore's national line, may start a regular shipping service to Vietnam if negotiations with Hanoi's shipping authorities come through.
    25 words
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    Gold Card carries a credit line
    281 11 UNITED Overseas Bank, in introducing the American Express Gold Card scheme, has come up with another first to its credit for the card is the first of Its kind in Singapore linked to what is more or less a personal loan. The holder of
    281 words
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    Lock icon Realtors ready to join Filipinos
    166 11 Reuter MANILA. Tuei. Japanese realtors have indicated their readiness to invest in a multi-million peso joint venture with Filipinos to build condominiums, resorts and housing projects, Asia Pacific Real Estate Association (APREA) president Virgilio Gener said today. Mr. Gener, a noted realtor and president of
    Reuter  -  166 words
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    Lock icon Seoul to ease import rules on 20 items
    360 11 UPI SEOUL. Tues. The South Korean Government said today it will liberalise the import of 20 restricted or banned items next month and lower bank loan interest rates twice this year to curb inflation accompanying its new tax system. Deputy PremierEconomic Planning
    UPI  -  360 words
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    Lock icon Tokyo yards fail to bag contracts
    134 11 UPI TOKYO, Tues. Major Japanese shipbuilding companies lost out to South Korea and Yugoslavia in bidding for a US$333 million (SsBl9 million) contract to build 19 milti-purpose frighters for Nigeria, industry sources said today. The sources attributed the loss to higher prices of Japanese
    UPI  -  134 words
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    Lock icon Taipeh trade is losing out to South Korea
    223 11 AFP TAIPEH, Tues. South Korea is posing an increasing trade threat to Taiwan as shown in the export performance of the two nations. Taiwan and South Korea depend on foreign trade for economic growth and have long been formidable rivals in world
    AFP  -  223 words
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    Jakarta tender for wheat in NY
    182 11 CHICAGO. Tuci. Traders Mid Indonesia will bold tender in New York on June 16 for up to 40,000 tonnes of spring wheat and 20,000 tonnes of white wheat for shipment from June 27 through August under the USDA'a PL-480 programme. allies to the tender
    182 words
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    Lock icon Sea limit extension set for July
    153 11 AFP TOKYO, Tues. Japan will extend its flve-km territorial waters to 19 kms and set up 320-km fishing boundary off its coasts from July 1, the Government announced today. Government officials said the new 320-km zone, however, will not be established in the Sea
    AFP  -  153 words
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    Drought danger
    91 11 ALOR STAR. Tues. Malaysia's national economic and social and political situation would be affected if the drought continues in Kedah and Perlis, MADA chairman Datuk Syed Nahar Shahabuddin warned today. Datuk Syed Nahar said these two states provided about 52 per cent of the country's rice needs. He
    91 words
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    Handicraft is the rage in America today
    124 11 THE US is experiencing an upsurge of' interest In handicraft, said Mr. Gerald Stryker, a director of the United States Information Services (USIS) at the opening of the American handicraft exhibition here yesterday. The exhibition, co-spon-sored by the USIS and the National Museum,
    124 words
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    Dr. Tan to open Copal Singapore
    138 11 DR. TAN Eng Liang. Senior Minister of State for National Development, will open Copal Singapore tomorrow. Copal Singapore is a wholly-owned venture of Copal of Japan and was formed in August 1973. It has a paid-up capital of SSI .6 million and gross fixed
    138 words
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    KL MAN FOR UK POST
    82 11 LONDON, Tues. Malaysian deputy secretary of the Ministry of Trade and Industry. Victor De Bruyne, is expected to be appointed to coordinate action on the recommendations of the Commonwealth experts group's report. The report, generally known as the Mclntyre report, was tabled at the conference
    82 words
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      444 11 APPOINTMENTS BANK OFFICER (MALE) required for A Leading Japanese Offshore Bank operating in Singapore; RESPONSIBILITIES: International Financing and ExportImport Documentations REQUIREMENTS: Singapore Citizen who has completed National Service Commitments 25 35 years of age At least 3 years experience covering all aspects of export and import documentation REMUNERATION: Salary will
      444 words
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    Lock icon Mystery of 34m kilos of extra steel
    208 12 UPI WASHINGTON, Tues. The Lockheed Shipbuilding and Construction Co billed the government for 34 million kgs of steel in excess of what went into 12 navy vessels, federal officials told Congress yesterday. Mr. .Goodwin Chase, chairman of the Renegotiation Board, told the Senate
    UPI  -  208 words
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    Lock icon Luring the tourists
    71 12 AFP ?ANGKOK, Mon. The ourist Organisation of Thailand (TOT) will set up two new branch offices In Kuala Lumpur and Singapore in a bid to encourage more tourists to Thailand. TOT director Col Somchai Hiranyakit said the office in Kuala Lumpur would be set up with a
    AFP  -  71 words
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    Lock icon Asean banks urged to aid business on regional basis...
    471 12 Reuter A LEADING Philippine banker today suggested that banks In Asean region should look at backing private investors in establishing regional business either on a bilateral or multilateral basis to boost industry, business, trade and cooperation in the area. Mr. David
    Reuter  -  471 words
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    Lock icon Compromise on project
    33 12 AP KUANTAN, Tues.' A compromise is being worked out regarding the implementation of the petrochemical project on the east coast of Peninsular Malaysia, Bernama reported today, quoting informed sources. AP
    AP  -  33 words
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    Lock icon Singapore meeting to finalise industrial projects
    268 12 AFP KUALA LUMPUR, Tues. Asean economic ministers will meet In Singapore on June 27 to finalise the implementation plan for various industrial projects agreed upon by them In their earlier meetings. The two-day meeting will also review the progress of the preferential trading arrangements
    AFP  -  268 words
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    Lock icon Raw sugar forecast
    44 12 Reuter BRISBANE, Tues. The Bureau of Sugar Experiment Stations forecast that the Just-started 1977 Queensland cane harvest will produce about 3.24 million tonnes of raws. This would break the record attained in 1976 of 3.16 million tonnes, the bureau said. Reuter.
    Reuter  -  44 words
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    Thailand to take over banking seat
    423 12 CHAIRMANSHIP of the Asean Banking Council Is expected to be transferred from Singapore to Thailand at this Saturday's council meeting In Manila. Six prominent bankers will represent Singapore. They are Dr. Tony Tan of Oversea-Chinese Banking Corporation, chairman of the Association of Banks In
    423 words
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    Lock icon US agency suppresses population estimates
    299 12 AP WASHINGTON, Tues. The Agency for International Development (AID) suppressed Census Bureau population estimates for several underdeveloped countries when the figures reflected unfavourably on AID birth control programmes. The House of Representatives census subcommittee has intervened in the dispute between the two US Government agencies
    AP  -  299 words
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    LONDON STOCKS
    790 12 LONDON. Tues The stock market closed firm and at 3.00 pm the Financial Times Index was up 6.2 at 454.3. Buyers returned after details of British Petroleum's share sale were announced by the Bank of England, dealers said Trading was thin and tended to exaggerate some price movements.
    790 words
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    Malaysia to impose levy on all incoming vehicles
    313 12 KUALA LUMPUR, Tues. Levy will b« imposed on all vehicle* entering Malaysia to cover third party risks once the road accidents compensation scheme is implemented. Also, that part of the premium paid for motor vehicle insurance in respect of third party insurance
    313 words
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    HAMILTON PETITION TO WIND UP TOP PASS
    136 12 HAMILTON and Co (London) Ltd has filed a petition with the High Court to wind up Top Pass International Pte Ltd. on grounds of insolvency. Hamilton alleged that Top Pass International owed the company C 14.382.08 (5560.836.19) under two bills of exchange. The
    136 words
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    Lock icon Manila yen bonds
    49 12 AFP TOKYO. Tues. The Philippine Government will float 10.000 million yen (SSB.B million) worth of yen-quoted bonds In Japan tomorrow. Japanese Government sources said today. An agreement between a group of Japanese underwriters and the Phllllpplne Government on the bond flotation was signed here yesterday. AFP
    AFP  -  49 words
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    Holdridge: We will preserve our stake here
    692 12 THE United States has an important "economic stake" in Singapore, and it is determined to preserve and develop this commitment. This assurance was given yesterday by the American Ambassador, Mr. John Holdridge. In his opening speech at the four-day seminar of US agricultural
    692 words
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      122 12 Once-A-Year Bargain Event Prices slashed below par i on Golf Sets Also on Shirts. Gloves, Shoes, Putters, Accessories, etc. Golf Sags, Head Cover, Shoe Bag S "**A£A V SALE BY TENDER IY RECEIVER 1. HENLEY FORK LIFTS (N«w) 2. HYMAC EXCAVATORS A LOADERS (N«w) 3. VERTICAL DRILLING MACHINES (N«w) 4
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      3 12 SEE PAGE 2
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      153 12 1" ce who'd want a dehumidifier? Quite a lot of people apparently but first let's tell you what a GE Dehumidifier is and how it works. It measures about 52 cm high and weighs about 24 kg. A fan draws in warm, humid air over a refrigerated coil. As the
      153 words