The Business Times, 16 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 THURSDAY, JUNE Is, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon $46m fund target
      60 1 Reuter LONDON, Wed. A target figure of £11 million (5146.5 million) for next year's Commonwealth Fund for Technical Cooperation (CFTC) was "well within sight," a conference spokesman said here today. On the final day of the Commonwealth summit, 18 countries pledged themselves to Increase their contributions to
      Reuter  -  60 words
    • Article
      Lock icon 50 million barrels!
      52 1 AP NEW YORK, Wed. Saudi Arabian oil export figures for May show that last month's fire at Aramco's oil producing facility cost more than 50 million barrels of oil enough oil to supply US Import needs for a week. The data was released by the Saudi Petroleum
      AP  -  52 words
    • Article
      Janata captures Orissa
      42 1 NEW DELHI, Wed. India's ruling Janata (People's) Party captured power In yet another state, Orissa in the east, when It secured absolute majority today as the counting of votes In the current Assembly elections went Into the second day.
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    • Article
      Lock icon Colour TV deal
      67 1 Reuter TOKYO, Wed. Victor Co of Japan said it signed a 20 billion yen (SSI7B million) five-year contract to supply EMI (Australia) with a total of 300,000 colour TV sets as well as parts and production technology. It said Australia's colour TV demand last year was about
      Reuter  -  67 words
    • Article
      Preference to shareholders
      58 1 KUALA LUMPUR, Wed. Multl-Purpose Holdings Bhd. will give preference to its shareholders in the sale of low cost houses to be put up by the company. Its executive director, Mr. Tan Koon Swan, said the company has acquired 580 hectares of land In the Kepong area for
      58 words
    • Article
      Lock icon LNG supply venture
      74 1 Reuter TOKYO, Wed. The Malaysian state oil company Petronas, the Shell Oil group and Mitsubishi have reached basic agreement on a joint US$l.4 billion (553.4 billion) venture to supply Japan with liquefied natural gas for 20 years, Mitsubishi said. It said an agreement will probably be signed
      Reuter  -  74 words
    • Article
      Lock icon Upadit-Malik talks
      59 1 AFP JAKARTA, Wed. Visiting Thai Foreign Minister Upadit Pancharlyangkan and his host Adam Malik discussed Thai proposals for the forthcoming Asean summit and security in the region for almost three hours here today. He will call on President Suharto tomorrow morning and have talks with Economic Affairs Minister
      AFP  -  59 words
    • Article
      Lock icon Dow Jones
      85 1 UPI NEW YORK, Wed. Blue-chip profit-takers cashed in early today as stocks turned mixed in active trading of New York Stock Exchange Issues following yesterday's rally. The Dow Jones Industrial average, which climbed 10.17 points yesterday, was off 2.03 points to 920.54 shortly before the first hour of
      UPI  -  85 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      169 1 MOST shares closed lower in moderate trading on the Stock Exchange of Singapore yesterday as the late afternoon rally on Tuesday proved to be just a flash in the pan. The Business Times index shed 9.18 points at 317.57 and the Straits Times Industrial index slipped 0.43
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    • Article
      In Kuala Lumpur
      106 1 Falls Most active Perak Carbide 778.000 P. Carbide 0.88 -.19 Haw Par 531.000 Pacific Dev 1 89 -.15 O. Lumber 375.000 C. Sugars 3.08 -.12 Parlfir H*v 291.000 M. Rice M. Flour A.P.I. 1.23 2.01 0.86 -.12 -.09 -.07 Total Turnover 4.12 M Total Value MS 6.10
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  • Article
    Sentosa pulls off a $9 million surprise
    917 1  -  BOUGHT F. MERLIN (M) SHARES By QUIK PECK LIM SENTOSA Plywood yesterday surprised the stock market with an announcement of a purchase of shares at a total price which is not only hlsher than its paid-up capital but its total assets as well.
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  • Article
    PLO HAS LARGE STAKES IN U.S. FIRMS
    162 1 BEIRUT, Wed. The Palestine Liberation Organisation (PLO) owns shares in most US corporations doing business In Arab countries, a newspaper said here today. The dtlly Al Ahjar. printed by L6ba*nbn's conservative National Liberal Party (NLP), said it had a secret report showing that
    162 words
  • Article, Illustration
    Citibank's exposure to risks very low
    655 1 CITIBANK'S exposure to foreign sovereign risks Is very low, with Its loans in this category coming to only US$26 million (Ss64 million). This forms only a small proportion of the bank's total foreign loans of billion, according.-to ft* chairman, Mr Walter Wrlston yesterday. Mr.
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  • Article
    Credit Lyonnais to return for more?
    370 1 FOLLOWING its first Asian dollar bond issue, Credit Lyonnais of France Is expected to come to the market for more funds in the future. This was the indication given by Mr. Georges Smolarskl, the bank's director of International affairs, at the signing ceremony for
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  • Article
    Asean meeting priority
    305 1 ASEAN economic ministers will hold their fourth meeting here from June 27 to 29 when they are expected to try and solve some of the problems holding back progress In the five Asean designated projects. These projects are urea manufacture for Indonesia and Malaysia, dlesel engine manufacture
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  • Article
    C'wealth leaders condemn events in Uganda
    304 1 LONDON, Wed. Commonwealth leaders today decided to issue i strong condemnation of the violation of human rights in Uganda the first time ever that a summit conference has openly denounced a Commonwealth member nation. But the prime ministers and presidents meeting in secret seasion
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  • Article
    Spread out investment risks call by Lee
    379 1 LONDON, Wed. Prime Minister Lee Kuan Yew said over a Canadian radio broadcast tonight that a scheme must be worked out to ensure that both Opec and the industrialised countries spread the risks involved in investing In developing countries. Mr. Lee felt that
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  • Article
    SGS-Ates expands in a big way
    145 1 SGS-Ates, an Italian electronic firm operating from Toa Payoh. yesterday announced it has embarked on a multi-million dollar expansion programme. The firm, which assembles electronic parts, will double its production of integrated circuits once the programme has been completed. It; has already conmillion building
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  • Article
    No sugar subsidies
    34 1 MANILA, Wed. The Philippine Government ended sugar subsidies today and raised its buying price of domestic sugar by 50 per cent to prevent what It calls the sugar Industry's possible collapse.
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
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  • OVERSEAS
    • Article
      Lock icon Colour TV imports into US soar to a record high...
      514 2 WASHINGTON, Wednesday AFP Reuter IMPORTS of colour television sets into the United States reached a new record high during the first quarter of 1977, the US Department of Commerce reported yesterday. They rose to 605,000 units valued at US$ll7 million
      AFP; Reuter  -  514 words
    • Article
      Lock icon Aussies cut plywood tariff quota
      172 2 Reuter CANBERRA. Wed. The Australian Government •aid it reduced the tariff quota on import* of thick plywood (5.5 to 23 mm) to 10,000 cubic metres in the year ending June 90. The quota does not apply to New Zealand plywood, high moisture resistant plywood from
      Reuter  -  172 words
    • Article
      Lock icon China plan to fight drought
      82 2 AFP HONGKONG. Wed. China has decided on a plan to fight drought which will involve redirecting some of its major river. Including the mighty Yangtze and Yellow Rivers and dredging some of its canals, the South China Morning Post, a Hongkong English dally reported. The
      AFP  -  82 words
    • Article
      Lock icon APPEAL COURT AGAINST SHOE QUOTAS
      142 2 AP NEW YORK, Wed. The US court of appeals has refused to block Administration quotas on imports of low-price "leisure" shoes from Taiwan and South Korea. Court documents predicted that without the quotas, about 85 per cent of the 80 million pairs of nonrubber and
      AP  -  142 words
    • Article
      Lock icon Global harvest is big enough to satisfy needs
      446 2 Reuter WASHINGTON, Wed. World grain production prospects have declined slightly during the past month, but the global harvest will still be big enough to exceed needs and push surplus reserve stocks to a record of more than 200 million tonnes by mid-1978,
      Reuter  -  446 words
    • Article
      Lock icon Sugar talks focus is on stocks
      243 2 Reuter LONDON. Wed. A tenday meeting of nearly 20 Important sugar importing and exporting countries to be held from July 20 will concentrate on the practical questions of Issues such as stocks and their financing, as well as the role of quotas Inside a
      Reuter  -  243 words
    • Article
      Lock icon BIS rules out speculative hoarding
      163 2 Reuter BASLE. Wed. The Bank for International Settlements said it Is unlikely speculative hoarding of commodities will reassert itself during the coming phase of economic recovery. In its annual report the bank raised the question of whether, as the economic recovery progresses, a rise in
      Reuter  -  163 words
    • Article
      Lock icon Nuclear power only alternative for Europe
      371 2 Reuttr LOS ANGELES, Wed. Nuclear power is the only alternative to imported oil for meeting European energy needs and most European nations have no choice but to continue building breeder nuclear reactors, a spokesman for the Commission of European Nations said yesterday. Mr. Feraand
      Reuttr  -  371 words
    • Article
      Lock icon 4-FOLD RISE IN POWER USE BY 2000
      211 2 Reuter PHILADELPHIA. Wed. Electricity demands In the United States will triple or quadruple by the year 2000. the chairman of the Edison Electric Institute said yesterday. Chairman Floyd Lewis of the Institute, an Industry grouping of utility companies. said that even with the
      Reuter  -  211 words
    • Article
      Lock icon Volkswagen plant to stay put in Mexico
      222 2 UPI MEXICO CITY, Wed. President Walter Scheel of West Germany said yesterday there Is no chance of the second largest Volkswagen (VW) plant In Latin America leaving Mexico. Mr. Scheel files home to Bonn today ending a 10-day official visit. A S(>-minute meeting
      UPI  -  222 words
    • Article, Illustration
      Lock icon Membership of EEC sparks Labour revolt
      561 2 AFP LONDON. Wed. Prime Minister James CaUaghan Is facing a revolt by 100 of his Labour Party supporters over Britain's continued membership of the European Common Market. The 100 MPs. led by former Trade Minister Douglas Jay. a right winger and long-time opponent of
      AFP  -  561 words
    • Article
      Lock icon Workers allow uranium shipment
      118 2 Reuter SYDNEY, Wed. The Sydney branch of the Waterside Workers Federation decided against blocking the shipment of 200 tonnes of uranium oxide to Japan, a branch spokesman said. This Is in line with the Australian Council of Trade Unions' policy that existing contracts relating to government
      Reuter  -  118 words
    • Article
      Lock icon 'Yen rate is too high'
      91 2 Reuter NEW YORK. Wed. An exchange rate of 272 yen to the dollar Is too high and most of Japan's Industry cannot make a profit on exports at" such a level, Sumitomo Chemical chairman Norlshlge Hasegawa told a press briefing here. Mr. Hasegawa. vicepresident of
      Reuter  -  91 words
    • Article
      Lock icon Chairman in direct control
      102 2 Reuter ZURICH. Wed Credit Suisse said it placed its internal auditing and Inspection department under the direct control of the bank's chairman Oswald Aeppli. Formerly this department was responsible to Heinz Wuffll who resigned as president of the bank's general management following losses Incurred by the
      Reuter  -  102 words
    • Article
      Lock icon Oil find
      36 2 Reuter JAKARTA, Wed. The state-owned Pertamlna Oil Co said It found a new oil deposit capable of producing 2,052 barrels of crude a day, located some 55 kms north-west of Clrebon, West Java. Reuter.
      Reuter  -  36 words
    • Article
      Lock icon UK blocks oil sharing accord
      186 2 Reuter LUXEMBOURG. Wed. Britain blocked agreement among the Common Market countries which would require It to share its oil with other EEC countries In times of a major prolonged supply shortage. British Minister of State for Energy Dickson Mabon said. He told reporters after a
      Reuter  -  186 words
    • Article
      Lock icon Increase in aid to poorest countries
      68 2 Reuter LONDON, Wed. British Prime Minister James Callaghan told Commonwealth leaders that his government Is increasing overseas aid by €113 million to i' 679 million this year. Mr. Callaghan made the announcement as the Com- monwealth summit debated the international economic situation. Two-thirds will
      Reuter  -  68 words
    • Article
      Lock icon AUSTRALIA SURE OF GROWTH TARGET
      84 2 Reuter BRISBANE. Wed. Acting Prime Minister Dough Anthony said the Australian Government is confident of reaching Its real GNP growth target of around 4 per cent for the financial year ending this month. He said federal Treasurer Phillip Lynch told the Cabinet at today's meeting
      Reuter  -  84 words
    • Article
      Lock icon Carter greets energy victory with 'we won'
      337 2 UPI WASHINGTON, Wed. President Carter has won a major energy victory yesterday for his energy Bill when the US House of Representatives Ways and Means Committee approved his oili tax and refused a multl-billion-dollar reward to Industry for exploration. The committee adopted Mr.
      UPI  -  337 words
    • Article
      Lock icon EGYPTIAN OFFICIAL HELD
      132 2 UPI CAIRO. Wed. The attorney-general ordered the arrest yesterday of a senior official of a govern-ment-owned pharmaceutical company for allegedly receiving commissions from the Japanese Esal firm. The Egyptian representative of Esai in Cairo was also arrested. Local press reports said that as a result of financial
      UPI  -  132 words
    • Article
      Lock icon How car plants in US can benefit Japan
      321 3 AFP TOKYO, Wed. Production of Japanese cars In the United States will be an "insurance" to prevent the outspread of Import curbs on them, a Callfornian state official said here recently. Mr. Tom Quinn, chairman of the state air resources board and
      AFP  -  321 words
    • Article
      Lock icon 'HK investment climate good'
      247 3 AFP HONGKONG, Wed. Japanese businessmen attending a three-day investment seminar here will present a favourable financial .picture of Hongkong on returning home. This was stated by deputy leader of the visiting group of 16 businessmen, Kyuma Tanno, a director of the Japan Overseas Enterprises Association (JOEA).
      AFP  -  247 words
    • Article
      Lock icon Exclusively for chief execs
      244 3 AP NEW YORK, Wed. A new magazine. Chief Executive scheduled to go out to 25,000 international leaders and corporate executives today, is not available on newsstands and cannot be purchased for any amount of money. The quarterly publication is free, but the advertising rate is a
      AP  -  244 words
    • Article
      Lock icon Number of jobless Canadians falls
      137 3 Reuter OTTAWA, Wed. Canadian unemployment dropped in May to 7.9 per cent, seasonally adjusted, from 8.3 per cent In April, Statistics Canada said today. The Government agency said that 824.000 Canadians were unemployed In May, well below the record 944,000 people looking for work in
      Reuter  -  137 words
    • Article
      Lock icon NZ in two-loan bid
      81 3 Reuter WELLINGTON. Wed. The New Zealand Government plans to raise two loans In Switzerland totalling 250 million Swiss francs (***** million). Associate Minister of Finance Hugh Templeton said. The first loan of 150 million francs will be a private placement for a sixyear term with an
      Reuter  -  81 words
    • Article
      Lock icon Tenders for $2 billion notes accepted by bank
      295 3 Reuter FRANKFURT, Wed. The Bundesbank said It accepted tenders for DM2.04 billion (552.13 billion) of medium term federal notes at the tender yesterday. The bank said It accepted offers of 1.03 billion marks for three-year 5.25 per cent notes priced at 99.60
      Reuter  -  295 words
    • Article
      Lock icon Attaches outline crop outlook'in Asian states
      786 3 Reuter THAI rice exports are likely to hold steady at between 1.5 million tonnes and two million tonnes a year for the forseeable future, while the Philippines should continue to be nearly self-sufficient and Indonesian rice import requirements will fall marginally, US agricultural attaches
      Reuter  -  786 words
    • Article
      Lock icon THIRD WORLD FORGES AHEAD IN MILITARY SPENDING
      492 3 UPI STOCKHOLM, Wed. World military expenditure in 1976 totalled US$334 billion (SsB22 billion) with the Third World showing an annual 10 per cent Increase compared to a world increase of 3 per cent, the Stockholm International Peace Research Institute (SIPRI) said today. The
      UPI  -  492 words
    • Article
      Lock icon More wheat imports
      49 3 AFP WASHINGTON, Wed. China will probably Import at least seven million tonnes of wheat during the 1977-78 season beginning on July 1 compared with slightly less than four million tonnes in 1976-77 and 2.3 million tonnes the previous year, the Department of Agriculture estimated today. AFP
      AFP  -  49 words
    • Article
      Lock icon Senate clamps limit on contributions to world banks
      365 3 ONLY 25 PER CENT UPI. WASHINGTON, Wed. The Senate voted yesterday to limit the United States to a 25 per cent share of contributions to international banks and bound US representatives on such bodies to oppose any loans to Cuba, Laos, Cambodia,
      UPI.  -  365 words
    • Article
      Lock icon Treasury auction
      87 3 Reuter WASHINGTON, Wed. The Treasury said It will pay down US$6l6 million (551,515 million) of twoyear notes and short-term bills in auctions on Monday and Tuesday. The pay-down In threemonth and six-month bills on Monday will amount to $210 million. It Is offering $2 billion of three-month bills
      Reuter  -  87 words
    • Article
      Lock icon Prime rate down
      79 3 Reuter CLEVELAND (OHIO), Wed. The Cleveland Trust Company, yesterday reduced its prime lending rate to 6V» per cent from 6% per cent with immediate effect. Clevetrust Corp, the holding company for the nine bank group, has assets of US$4.3 billion (5510.6 billion). The move follows a similar
      Reuter  -  79 words
    • Article
      Lock icon 'Overhaul index system'
      91 3 Reuter WASHINGTON, Wed. The council on wage and price stability said the system for computing the US wholesale price Index should be overhauled. The Index Is published monthly by the Labour Department. A council study said the prices collected in the industrial sector account for only about
      Reuter  -  91 words
    • Article, Illustration
      Lock icon Unions oppose restrictive norms in Phase 3
      243 3 Reuter LONDON, Wed. British union leader* will oppose a Phase Three wages policy containing restrictive pay norms from next August, Trade Union Congress general secretary Len Murray (above) said. Speaking to journalists after a TUC economic committee meeting, he said union leaders are
      Reuter  -  243 words
    • Article
      Lock icon UK govt borrowing requirement rises
      480 3 Reuter LONDON. Wed. The British central government borrowing requirement rose to £1.26 billion (Sss.32million) In May from a slightly upward revised C 584 million In April, and gained nearly £500 million from the £780 million figure on May last year, the Treasury said. Success in
      Reuter  -  480 words
    • Article
      Lock icon Finance Bill is amended
      267 3 Reuter LONDON, Wed. The Parliamentary committee considering the British Finance Bill for 1977/78 voted to raise tax free allowances which will add €450 million (Ssl,Boo million) government spending lri a full financial year. Following government defeat on four motions Chief Secretary of the Treasury Joel Barnett
      Reuter  -  267 words
    • Article
      Lock icon Forecast of Dutch prices raised
      89 3 Reuter THE HAGUE, Wed. Dutch consumer prices are now expected to rise between 8.5 and 7 per cent this year against a forecast made in April of 6.5 per cent, economics Minister Ruud Lubbers said. This will lead to a gradual rise in unemployment from
      Reuter  -  89 words
    • Article
      Lock icon RETAIL INDEX STEADY
      93 3 Reuter LONDON, Wed. The provisional estimate of the seasonally ad lusted index of UK retail sales.volume in "May. at 103.5, shows little change from April's 103.4 but is still below May 1976's 196.8 (base 1971 equals 100), the Department of Trade said. The volume of trade fell
      Reuter  -  93 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      152 2 TRADE MALAYSIA Malaysia's International Export Catalogue of Products and Services c* m m m mm s I 1 mmm m k This is your most ideal medium to promote your products or services to This colourful catalogue will be distributed free to selected buying centres and trade fairs around the
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      42 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on June 15 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      310 2 SINGAPORE 5 3.00 PM Opening announcements followed by Housewives Matinee The Longest Appointment (Pt. 1 of a Mandarin film repeat) 3.45 General Hospital 4.25 Intermission 6.00 Opening announcements followed by Lassie Cradle Of The Deep 0 6.30 News in Brief 0 6.35 Warna-Warni (Malay Repeat) 0 7.00 My Brother's Keeper
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      140 3 TEAC. A-650 A SUPERIOR FRONT-LOADING VOLET CASSETTE DECK TEAC A-650 gives the true audiophile the high level of fidelity which previously was not obtainable. The twin-motor transport system, incorporating a new Phase Locked Loop (PLL) servomotor, is controlled by a miniature electronic brain. Wow and flutter is corrected to a
      140 words
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  • COMPANY NEWS
    • Article
      Earnings take a dive at Pan-Electric
      706 4 AFTER three years of rapid growth, group pre-tax Eroflt at Pan-Electric ldus tries took a 66 per cent dive to $5.34 million last year. But this was somewhat exaggerated by a 37.4 per cent rise In depreciation at $4.58 million. Net group profit for
      706 words
    • Article
      DIVIDENDS ANNOUNCED
      724 4 Currat Ex Date Total for 1 1 pay—t Date payable the year previous year Tftipilf 20% May 23 June 16 30% 27.5% U.O. Land 0% May 23 June 18 6% 6% Gold Coin 7% June6 June 18 11% 11% O.U.T. 12% June 7 June 20 12% 11% Setron
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    • Article
      Sharp fall in profit at Pegi(M)
      70 4 WITH a drastically reduced contribution from 46 per cent owned Associate Pan Electric Industries, consolidated pre-tax profits at Pegl Malaysia took a steep fall to M 52.77 million last year from 57.87 million In 1975. At the company level, pre-tax profit fell from 51.79
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    • Article
      KL firms lose flood insurance cover
      423 4 KUALA LUMPUR, Wed. Brick walls and flood barriers have sprung up around several factories in Petallng Jaya where floods have become a common occurence after a downpour. But this has not minimised the flood risk and insurance companies are reported to have withdrawn- flood
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    • Article
      Buoyant second half boosts M. Containers
      295 4 EFFICIENT management and Increased productivity helped Malaysian Containers cushion the effects of higher costs in the year ended March 1977, when the group made a pre-tax profit of M 53.79 million, up 17.3 per cent. After tax and minority interest, group profit rose from
      295 words
    • COMPANY MEETINGS
    • Article
      H and L set for further expansion
      946 4 HIGHLANDS and Lowlands Is looking forward to another profitable year after reaping a 32 per cent increase In group pre-tax profit to M 535.98 million for the year ended Dec 31. 1976 Its maiden year of operations as a Malaysian company. Indications to-date
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    • Article
      PEOPLE IN BUSINESS
      49 4 Miaa Linda Ee and Mr. Patrick Khoo will be leaving soon for the Million Dollar Round Table Convention, an association of life insurance agents, In the US. They will be the first two representatives from the Prudential South-east Asia branch ever to attend this elite convention.
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    • Article
      Lock icon Tokyo banks hit by sluggish loan demand
      575 4 FT TOKYO. Wed. Sluggish demand in the Japanese economy for bank financing has led the banking community to expect an actual decline In profits In the present business term to next September. Overall bank revenue rose by on'" 2.3 per cent In the
      FT  -  575 words
    • Article
      CHICAGO BOARD OPTIONS
      1570 4 On June 14 TRADING in options on the Chicago Board Options Exchange on Tuesday rose to 115,383 contracts from 74,785 on Monday. Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel AUR All R Avon Avon Avon Bank Am Bank Am Bank Am BethS BethS BethS
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      Page 4 Advertisements Column 1
      590 4 i FIRST NATIONAL BANK IN DALLAS DALLAS, TEXAS (INCORPORATED IN THE U.S.A. WITH LIMITED LIABILITY) CONSOLIDATED STATEMENT ASSETS Cosh and Due from Banks on Demand Bank Time Accounts Funds Sold Loans, Net of Valuation Reserve for Possible Loan Losses of $31,301,000 Equipment Lease Financing Investment Securities Trading Account Securities Bank
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon UK Govt completes underwriting for its BP shares offer
      767 5 UK COMPANIES Reuter THE Bank of England has completed underwriting for the government's offer for sale of 66.78 million British Petroleum shares. Application lists will open and close on Friday, June 24. A part of the offer not exceeding 25 per
      Reuter  -  767 words
    • Article
      Lock icon 'Star Wars' impact on toy stocks
      779 5 NORTH AMERICAN COMPANIES NYT "STAR WARS", the critical and box-office success that has given new life to Twentieth Century-Fox film and movie stocks generally, has had a positive impact on toy stocks as well. Both Mattel and Ideal hit highs for 1977 last week
      NYT  -  779 words
    • Article
      Lock icon Credit C. F. agrees to buy Harriman
      92 5 Reuter BROWN HARRIMAN AND INTERNATIONAL BANKS said Credit Commercial de France has reached agreement in principle with shareholders of Harriman to buy the shares of Harriman. The purchase is being made in association with another French banking group. The transaction will be finalised
      Reuter  -  92 words
    • Article
      Lock icon More options proposals for LSE
      85 5 Reuter THE Stock Exchange Council at its regular meeting yesterday considered further details on modified proposals for the introduction of standard exercise price option trading, an exchange spokesman said. The spokesman said the council reaffirmed its principle of having a traded options market on the
      Reuter  -  85 words
    • Article
      Lock icon CBOE awaits SEC decision
      95 5 Reuter THE Chicago Board Options Exchange is awaiting Securities and Exchange Commission approval to begin trading in options on government debt securities. president Mr. Joseph W. Sullivan told a National Investors Relations Institute meeting. Mr. Sullivan said the CBOE filed its rule change proposal to permit
      Reuter  -  95 words
    • Article
      Lock icon Time, Amev takeover agreement revised
      103 5 Reuter THE preliminary agreement for the acquisition of Time Holdings by Amev of the Netherlands has been revised. Time Holdings said the revised agreement provides for merger of a newly organised US subsidiary of Amev Into it, with Time Holdings stockholders to receive at least
      Reuter  -  103 words
    • Article
      Lock icon BHP gold find at OK Tedi
      210 5 Reuter MELBOURNE. Wed. Broken Hill Pty (BHP) encountered significant concentrations of gold during drilling at the OK Tedi Copper orebody in Papua New Guinea, BHP said in its latest monthly "news review". Should the project go ahead, the gold could be a valuable source
      Reuter  -  210 words
    • Article
      Lock icon VW plans to open second US plant
      662 5 EUROPEAN COMPANIES NYT WOLFSBURO. Wed. Volkswagen, now in third place behind two Japanese companies in the race to sell foreign cars in the United States, says it will eventually have to open a second American plant most likely In the west to regain
      NYT  -  662 words
    • Article
      Lock icon Gazocean seeks compensation from Triomf
      409 5 AFP PARIS, Wed. Mr. Jacques Pesson, Judicial administrator of the French Gazocean Company, yesterday said the firm would ask for "very substantial" compensation from the South African Triomf Group for what he described as breach of contract. Mr. Pesson, a lawyer, was named to sort
      AFP  -  409 words
    • Article
      Lock icon BREAKFAST CAPITAL OF AMERICA
      810 5  -  By WILLIAM STEVENS NYT WHAT is that sweet smell? "Probably her," the boy, perhaps 13 years old, answered, nodding toward his strolling companion, a girl of about the same age. She smiled and blushed, lighting up the leafy residential street in this hilly town of 40,000
      NYT  -  810 words
    • Article
      Lock icon Margin buying falls
      77 5 Reuter TOKYO. Wed. The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo. Osaka and Nagoya stock exchanges as of June 11 fell to 759 billion yen from 780 billion the previous week. The decline resulted from a fall in the
      Reuter  -  77 words
    • Article
      HSBC new branch
      33 5 LONDON Wpd. HongKong and Shanghai Banking said it will shortly open a full service branch in Edinburgh. The new branch will place emphasis on foreign exchange business and export/import finance.
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    • Article
      Lock icon Komatsu lowers estimates
      186 5 ASIAN COMPANIES Reuter TOKYO, Wed. Komatsu expects after-tax profit In the first half year ending June 30, 1977 to fall to eight billion yen from the original target of 8.55 bllUon and 10.57 billion In the same period late year. Sales, however, will total 170 billion yen,
      Reuter  -  186 words
    • Article
      Lock icon Hyundai wins contract
      86 5 Reuter AMMAN, Wed. Hyundai Construction of South Korea won a 572 million Saudi rlyal contract for the electrificatlor of the Asslr area on Saudi Arabia's Red Sea Coast, Riyadh Radio said. Quoting Industry and Electric Power Minister Mr. Ghazi Abdul-Rahman AlQussalby the radio said the protect, which
      Reuter  -  86 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      18 5 wST V VP'S?' UNITED STATES TRADE CENTER ground floor mala yon credit house 96 somerset road Singapore 9
      18 words
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      Page 5 Advertisements Column 2
      97 5 r r NHMMHMHH and yourself too! The extra low keyboard and a programmable memory that remembers standard typing layouts; plus automatic line spacing without carriage return to margin (simplifies typing of margin headings, scanning references, paragraph numbers etc) make typing so automatic she almost never needs take her fingers off
      97 words
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  • Article
    Share Information Service
    2238 6 1977 Last Sale +orGr'. < div Dhr J e'rr Vi Net r'M P/E Vol Dm L CMMh Hick Low H High Low Company SECTION ONE INDUSTRIALS 145 139 175 81* 215 83* 170 100 205 302 +2 10 -29 -1* -3* -1 +2 12.ON 1.1 12.ON 1.1
    2,238 words
  • Article
    Transactions in Singapore
    1573 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
    1,573 words
  • Article
    In Kuala Lumpur
    1547 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 Alcam (1.808) (3) 1.80. tl) 1.78. AMI. Maid (0 058). A.
    1,547 words
  • Article
    Stock options
    126 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June $3.90) (0 01S). INCHCAPE (June $2.40) (0.138 0.145) (1) 0.17. (2) 0.17",. (18)
    126 words
  • Article
    Unit trusts
    144 6 SINGAPORE UNIT TRUST INCOME BOND UNIT IMiitim' price* for June It) (Currant iriea*) l.U The Commerce IN 1 79xd INCOME BOND 1.05 The Saving Fund S pore Prog Fund Spore Security Fund 0 92 0 97 0.S2 0.87 1.49 1.57 MARA BUMIPUTRA FUND (Manager*' price* tar June It)
    144 words
  • Article
    CORPORATE BONDS
    142 6 B O T 8 1/2% 1981 (100.000) (102' iB 103S) B O T 7 5/8% 1984 (100.000) <98».B 99' »S) D B S 8 1/2% 1982 (100.000) (100 SB 101'»S) DBS Convert® 6 1/2% 1991 (100.000) (98 l «B 995) E I B 9% 1982 (100.000) (103HB 104*8)
    142 words
  • Article
    GOVERNMENT BONDS
    139 6 Rep Spore D Mark 7% 1982 (100.000) (100V,B 101'«S) Rep Spore D Mark 6 1/2% 1983 (100.000) (98%8 99SS) Rep Spore 7 3/4% 1987 (100.000) (99 7 »B 100*»S) 5 1/2% 1/4/78 (250.000) (101.478 101 60S) 5 1/2% 15/4/78 (250.000) (101 40B) 5 1/4% 15/7/78 (250.000) (101 488
    139 words
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      Page 6 Advertisements Column 1
      137 6 Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: IV. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M. Gilbert Corporation Man: A.
      137 words
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  • Article, Illustration
    SES TURNS EASIER
    579 7 A HANDFUL of firm spots was noted amidst the generally lethargic trading pn the Stoch Exchange of Singapore yesterday. Tuesday's late afternoon rally proved to be just a flash in the pan as trading resumed yesterday on an easier footing. With no discernible lead from overseas marhets,
    579 words
  • Article
    SHARES END LOWER IN KL
    410 7 PRICES were marked marginally lower under selling pressure on the Kuala Lumpur stock market yesterday. There was a feeble attempt at rally In the opening session but the emergence of sellers cancelled it altogether. The selling, which gathered momentum in the afternoon, took its toll
    410 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      424 7 HONOKONO: The market closed easier In fairly active trading on Wednesday, despite Wall Street's overnight firmness, with blue chip lower and second liners steady to easy, dealers said. The Hang Seng Index dropped 1.95 points to close at 441.70. •lardine Matheson and Hongkong Bank each lost 20 cents to
      424 words
    • Article
      Tokyo
      546 7 TOKYO: Share prices closed higher on Wednesday, as Interest revived tn blue chips following the recovery on Wall Street overnight, but trading was thin, dealers said. The Dow Jones average gained 4 89 to close at 4.918.57 with volume 100 million shares. The New index closed at 372.33. up
      546 words
    • Article
      Sydney
      455 7 SYDNEY: The market firmed slightly following the rises on the London and New York markets, dealers said on Wednesday. The Sydney All-Ordinaries index rose 0 85 point to 456.56. CSR. however, lost eight cents to $3 45 and Bun da berg Sugar 18 cents to $3 50 on lower
      455 words
    • Article
      Manila
      185 7 MANILA: The market closed mixed In sluggish trading on Wednesday, after a rally around mtdsession. with only minings firm while commercials and oils continued to drift lower, dealers said Among oils. Oriental and Basic Petroleum lost two points each and Seafront three points. Other losers Included Acoje Mining, Atlas
      185 words
    • Article
      Bangkok
      104 7 JUNE 15 Bahts 47Asia Fibre 175 •t Bangkok Rank 305 4-2 Bangkok Invest 178 unch Bangkok-Metro-politan Bank Rata 490 -7 Berll Jucker 200 -2 Charoong Thai Wire 163 -3 Dumex DusitThanl 200S unch Faher Merlin First Trust Indo-Thal IMS -4 Industrial Finance Corp 1275S J And J Ho 218
      104 words
    • Article
      Amsterdam
      311 7 AMSTERDAM: The market again closed slightly firmer in general and trading remained quiet, bourse sources said on Tuesday Dutch internationals were mostly firmer with Royal Dutch gaining 1.50 guilders. Akso was unchanged and Hoogovens lost 0.30 guilders. Elsewhere ABN and Middensundsbank led banks firmer. Ennia, KLM and Fokker were
      311 words
    • Article
      Brussels
      160 7 BRUSSELS: Almost all shares closed higher In slightly more active trading, bourse sources said on Tuesday. Gevaert, Solvay. UCB. Tabacofina and GB rose while WagonsLits and Cometra were lower. In foreign stocks UK were steady. French mixed, Germans higher. Dutch mostly little changed and most US stocks rose. Gold
      160 words
    • Article
      Zurich
      281 7 ZURICH: The bourse was steady with investors showing more interest following the report of the Commission for Economic Research forecasting a modest economic revival In the next few months, dealers said on Tuesday. Nestle, Sandoa bearer, CibaGeigy and Hero were higher. Both Buehrle advanced in more active turnover. Elsewhere,
      281 words
    • Article
      Jo'burg
      400 7 JOHANNESBURG: The stock market was fairly quiet on Tuesday on general lack of Interest, dealers said Most sectors showed an easier trend Gold shares were easie. on the day. but some shares firmed marginally towards the close Dealers attributed the downward trend In golds to the lower bullion price.
      400 words
    • Article
      Toronto
      313 7 TORONTO: The market closed sharply higher in moderate trading on Tuesday, benefiting from strength in New York. The composite index rose more than eight points to 1.006.1. its highest level since April 21 and the best one-day advance since Feb 1. Advances outpaced declines by 239 to 158. Analysts
      313 words
    • Article
      Milan
      163 7 MILAN: The market drifted generally lower In slack trading, with operators citing the economic situation and forthcoming June settlement day as the main depressants, dealers said on Tuesday Against the trend. IFI privileged. Mediobanca, Montedison and SNIA Viacoaa were slightly higher, but Anic, Am Generalli, Cent rale, Fiat, and
      163 words
    • Article
      Paris
      351 7 PARIS: The market was steady on Tuesday, but BSN rained almost three per cent following the announcement of sharply better 1970 consolidated results, dealers said. Banks, hotels, stores and electrlcals gained some ground, but printings. Investments, engineerings, metals and textiles eased. Among foreign stocks. Germans and Americans were well
      351 words
    • Article
      Frankfurt
      316 7 FRANKFURT: Shares closed higher tn more active trading, led up by bonds, market sources said on Tuesday. Chemicals rose, led by Chemie Verwaltunc, up five marks. In firmer electricals. Siemens gained 1 20 marks but Varta lost 1 80 marks. Banks were little changed but stores tended weaker with
      316 words
    • Article
      New York
      1275 7 NEW YORK: Drawing support from indications that short term Interest rates have stopped rising. the stock market chalked up an impressive gain on Tuesday for its third straight advance In heavy trading. Evidence that interest rates were stabilizing came late on Monday when Morgan Guaranty Tru»t Co cut
      1,275 words
    • Article
      Indices
      63 7 FINANCIAL TIMES INDUSTRIALS Tuesday 455.4 Monday 448.1 Week Ago closed DOW JONES AVERAGE INDUSTRIALS Tuesday 922.57 Monday 912.40 Week Ago 908.67 LONDON DOLLAR PREMIUM Tuesday 114% to 115 l >4 Monday 114% to 114% H.K. HANp SENG Tuesday 443.65 Monday 445.89 Week Ago 446.10 SYDNEY INDUSTRIALS Tuesday 374.02 Monday
      63 words
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      337 7 P'J IiMT Bfc w.«kl rwrpni Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational quite unlike the type that merely appeals to the baser
      337 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      434 8 IN Singapore yesterday, the market opened one cent higher following Tuesday's after hours steadiness here and later rose further on shortcoverlng and lack of sellers. However, trading was quiet. In the physical sector, Oct/ Dec SMR 20 was traded on both switch and outright basis
      434 words
    • Article
      Closing prices
      31 8 Rubber: June 15 Singapore: July 193.50 cts (up 1.00 ct,) Malaysia: July 194.25 eta (up 0.75 ct) Tin: S 1,430 (up $14) Official offering: 161 tonnes (down 51 tonne#)
      31 words
    • Article
      SSR AND SMR
      301 8 Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.3. prompt f.o.b. 194 00 195 OON 193.50 194.50N Int. 1 R.S.S. July 194 00 194.50 193.50 193.75 Int. 1 R.S.S. August 190.50 197.00 190.00 190.50 Int. 2 R.S.S. 191.50 193.50N 191.00 193.00N UK/Cont 190.50
      301 words
    • Article
      R.A.S. PRICES
      90 8 July Ad (Wl irdMtfc) ICmrnt Mth) (Farwi R.A.S. Bayer Seller. Buyers Seller* (cm its per kf) (emli > par kg) SSR 20 (1-ton Pallet) 102.50 183.50N 184.00 193.00N SSR 50 (1-ton Pallet) 180.50 181 50N 192.00 193 00N M.R.E.L.B. SMR5CV (1-ton Pallet) 217.50 218.50N 218.50 220 50N SMR5L
      90 words
    • Article
      Cocoa
      262 8 LONDON, Wed. Cocoa futures were irregularly higher in the morning. The market went to an almost immediate £40 limit gain in near July at £3,030 traded and bid bat then eventually eased under traded selling and Jobber profit-taking to show opening/ special call gains from Tuesday night of mostly
      262 words
    • Article
      Produce exchange
      504 8 EASIER conditions persisted in very light trading at the Singapore produce market yesterday. Contributing factors were the genergl withdrawal of overseas buying Interest and the closing weakness in the overseas markets. Pepper dealers had an Idle day In the absence of advices from the big European and American
      504 words
    • Article
      Coffee
      389 8 LONDON, Wed. Futures ended the opening session easier £75 to £61 down on last night. 418 lots were traded. Commission house and local dealer selling pushed values lower Initially. July lost £75 at £2,595 while Sept was £61 lower at £2,537. Dealers attributed the reverse of trend following yesterday's
      389 words
    • Article
      Palm oil
      82 8 C.I.F Rotterdam. US dollara per ton. LONDON: e Pre*. 1 Tuesday Malaysia 5% ffa bulk 040 air Aug MM air Sumatra 9* 867.90 pd Afloat unch June unch 840 air July Auf 829 pd •*****% 637.90 air 817 pd 632.90 air Sept 010 pd 630 air Nov unch
      82 words
    • Article
      Straits tin market
      222 8 THE Straits tin price In Penang yesterday was up $14 to $1,430 on an official offering down 51 tonnes to 161 tonnes. The market rose on covering support following Tuesday's weakness despite lower London metal exchange prices, and the lower volume of tin concentrates delivered by miners
      222 words
    • Article
      Sugar
      209 8 LONDON, Wed. Sugar futures had first call gains from Tuesday night of £1.20 (at £134.25 bid) to £2.25 per tonne In a further technical correction to recent declines, dealers said. Shortcoverlng provided significant support allied to Tuesday's steadiness in New York. London dally raws price was up £3 at
      209 words
    • Article
      Duty rates
      65 8 THE Malaysia Minister of Finance has fixed these rates for the period June 16 until further notice: Rubber: 88 5/8 cents a lb Copra: $974.00 a ton PaTm kernel: $235.25 a ton The rates of duties payable are: Rubber: 9 3/4 cents a lb Total 15 1/4 cents
      65 words
    • Article
      Rice
      212 8 BANGKOK. Wed. Indicative prices for rice quoted here were: (US dollars per tonne fob basis Bangkok) White Rice 100 per cent 1st class 297 100 per cent 2nd 2S2 100 per cent 2nd 278 100 per cent 3rd 278 S per cent 265 10 per cent 240 IS per
      212 words
    • Article
      Hongkong comex
      291 8 HONGKONG. Wed. Cotton futures closed sharply lower after opening with the two US cents limit down in October, following the overnight sharp decline In New York, dealers said. October showed the largest loss of 2.90 US cents, while other months fell 2.26 to 2.62 cents. Total turnover rose
      291 words
    • Article
      Soybeans
      185 8 CHICAGO, Wed. Soybean futures yesterday closed sharply lower in nearby months but posted gains in deferreds after trading on a mixed note through most of the session. The July finished with a loss of 27 cents while August was down 26V4 cents. September lost seven cents and other months
      185 words
    • Article
      Wheat
      80 8 CHICAGO, Wed. Wheat futures firmed yesterday morning and were up 3/4 to two cents a bushel around midday. The trading volume was thin and there was little selling pressure. Wheat futures closed at the high end of the day's trading range, posting gains of 2 1/4 to three cents
      80 words
    • Article
      Copper
      318 8 LONDON, Wed. Copper wire bars finished the morning with gains of mostly £5 per tonne. Values advanced on the pre-market where up to £765 per tonne was paid following the steady New York trend which, dealers said, for the most part reflected the lack of progress by Phelps Dodge
      318 words
    • Article
      Silver
      202 8 LONDON, Wed. Silver in the morning closed with gains of 2.0 pence per troy ounce all round. The relative steadiness in gold this morning together with the recovery In base metals encouraged moderate shortcoverlng and some fresh buying response. The movement took three months upto 260.6 pence In the
      202 words
    • Article
      Gold
      397 8 IN the Singapore gold market yesterday, the kllobar broke the S$ 11,000 mark when It opened at S$ 10,995 but soon It followed the familiar pattern seen during the past week when price started to drift lower. At one stage, the price touched 5510,955 before recovering to close at
      397 words
    • Article
      Lead
      61 8 LONDON, Wed. Lead finished morning ring dealings C 4.50 up for cash and £5 higher for Three Months. Three Months traded from £312 on the premarket up to £317 in the ring and maintained its steadiness to finish the kerb at £318 per tonne. On Tuesday afternoon, lead closed
      61 words
    • Article
      Zinc
      49 8 LONDON. Wed. Zinc in the morning rained £8 for cash and £7.50 per tonne for Three Months. On Tuesday afternoon, zinc finished with losses of £1.00 for cash and £2 for Three Months. Values were steady in light two-way trading of 2.500 tonnes which was boosted by carries.
      49 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        550 8 THE US dollar continued to stage a strong recovery against the Japanese yen for the second successive day In the Singapore foreign exchange market yesterday. From the opening of 272.40/50 yen in Tokyo, the dollar rose to 273.70/90 towards the lunch hour In Singapore in brisk trading. When London
        550 words
      • Article
        Minimum lending rates
        40 8 acbc «v, CH tv< Citibank .7 CH Bangkok Bank 7 HSBC Bank of America Bank of China n 7 Indoauu «H 6 l sv. (>-< Bank Nefara Indonesia 7 OCBC OUB «H CH UCB L'MBC UOB 7 7
        40 words
      • Article
        Asian $ rates
        153 8 Asian rates ASIAN currency deposit Interbank rales m at close on June IS. US Dollars (Strait Offer Bid 7 days 5H S« 1 mth ...5* 5* 2 mths ...SW 5H 3 mths SS SW 6 mths ...6 5% mths 6* 12 mths 6H 6% 8w. Pr». (middle Diss. 1 mth
        153 words
      • Article
        Discount
        47 8 RANCE of prices offered by discount houses on June 15, Overnight to 3% Oil deposit 3% Ctesine Boy Selling 3-Month Treasury bills 1 l/IC 215/16 3-Month Banks bills 4 1/8 3-Month CD 4 l/IC 4 3/8 6-Month CD 4 5/8 41/2 Source: National Discount Co. Ltd.
        47 words
      • Article
        Euro $ rates
        135 8 Euro rates LONDON. Wed. Eurodollar deposit rates generally eased 1/16 In light trading, dealers said. Periods lost 1/16 to 1/4 while some positions were unchanged from overnight levels. One Month lost 1/4 to 5 1/4 51/8 on a technical adjustment. Dealers said lack of Interest was reflected In the easier
        135 words
      • Article
        Treasury bills tender
        52 8 THE Monetary Authority of Singapore (MAS) Invites banks and discount houses to tender for: (a) Sl5 million 91-day Treasury bills to be Issued from June 20 to June 24; (b) $15 million 182-day Treasury bills to be Issued on June 20. Each tender must not be less
        52 words
      • Article
        New York
        166 8 NEW YORK. Wed. The dollar yesterday closed little changed against major currencies in quiet and featureless trading, dealers said. Initial weakness on Morgan Guaranty's prime rate cut faded as US dollar quotations rose in morning dealings on modest commercial demand and held at these levels for the rest
        166 words
      • Article
        London
        276 8 LONDON. Wed. The yen eased in active early trading here following its decline in Tokyo and reflecting an unwinding of long yen positions. dealers said. Sterling traded quietly steady, but forward discounts eased up to 20 points for Six Months reflecting a hardening attitute of UK union leaders towards
        276 words
      • Article
        Hongkong
        112 8 HONGKONG. Wed. The US dollar firmed to a late UK54.6990/7010 in active trading, after opening little changed from yesterday's close at 4.6930/50 dealers said. The US unit also gained against the yen, in line with Tokyo, reaching a late 273.20/40 yen after risine at one time to around 273.70/90
        112 words
      • Article
        Tokyo
        83 8 TOKYO. Wed. The US dollar for overnight delivery closed at 273.35 yen, recovering sharply from 272.50 at the opening and 272.60 at yesterday's close following increased import covering, dealers said. Dollars for immediate delivery ended at 273.30 yen compared with 272.50 at the opening and 271.58 at yesterday's close.
        83 words
      • Article
        Australia/NZ
        55 8 AUSTRALIA/NZ exchanges on June 15 Australia Sterling 0.64M/0.6416 US dollar 1.1116/1 /068 Ninety-day air mall buying rates Sterling 0.6670 US dollars 1/370 Ninety-day forward buying rates Sterling 0 6491 US dollars 1 1006 New Zealand Sterling 0 5615/0 5583 US dollar 0 9699/0 9599 Ninety-day forward rate: Sterling 0
        55 words
      • Article
        Zurich
        56 8 ZURICH exchanges closing quotes on June 14 US 2 4010-4917 UK 4 2820-2834 Can 2 3588-3000 W Oerm 105 73-77 Neth 100 65-70 Franc* 50 38-38 Brig 8 903/4-911/4 Denm 41-23-24 Norw 47 28-28 Swed 58 41-44 Italy 0 283-2814 Austria 14 85-851/2 Port 8 44-48 Spain 3 593/4-80
        56 words
      • Article
        Frankfurt
        43 8 FRANKFURT exchanges opening quotes on June 15 US 2 3500/70 Can 2 2302/22 UK 4 045/055 Neth 95 15/25 Bwttt 94 55/05 Italy 2 055/665 France 47 00/70 Norw 44 60/74 Brla com 0 52/53 Belt fin 6 53/54 Jnpon 0 M22/32
        43 words
      • Article
        Eurobond prices
        281 8 LONDON Eurobond prices on June IS Straight* Bid Offer Austria 8% 90 101% 102% Bell Canada 8\ 86 105*0 BFCE8%83 101% 102% Brazil 8'<.84 97% 98% Can Pacific 9U83 103% 103% Credit National 8'i86 99 99% EC8C983 103% 104 EEC 8% 82 100% 101% EEC 7% 79 100%
        281 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      192 8 L. 4 MONTHLY ICONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE til ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East ahd Southeast Asia. The
      192 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon 'World demand for telecoms ware will double by 1985'
      273 9 AP WASHINGTON Wed. US experts predicted that worldwide demand for telecommunications equipment will double by 1985, but the North American percentage will shrink from 50 per cent to 42 per cent. The forecast was made by experts from Arthur D. Little
      AP  -  273 words
    • Article, Illustration
      Lock icon TRANSATLANTIC FLIGHTS BY LAKER APPROVED
      515 9 UPI WASHINGTON, Wed. President Carter, acting with speed that surprised US aviation officials, has signed his approval to a British plan for no-frills irans-Atlantic flights costing just US$l35 (*****) in one direction and $102 in the other. Pan American World Airlines said they will match
      UPI  -  515 words
    • Article, Illustration
      THE TWENTY-FIFTH CARRIER
      27 9 TMlfi bulk carrier, EVNIKi, Juat delivered to Mano Shipping and Trading by Hitachi Zom. It k the twenty-fifth Panamax-type carrier developed by Hitachi Zoeen.
      27 words
    • Article
      Lock icon Peking, Tokyo offices
      101 9 UPI TOKYO. Wed. Japan and China agreed to open private shipping offices in Tokyo and Peking on June 24. a spokesman for the Tokyo-based Japan-China Marine Transportation Council said yesterday. The offices, aimed at promoting freight transportation between the two countries, will be established under notes exchanged
      UPI  -  101 words
    • Article
      Lock icon London freight market
      240 9 UPI LONDON, Wed. US Gulf grain rates showed signs of gradual erosion in July fixing to Japan and Mexico. The figure of U559.25(FIO) accepted by a 27,000ton July 6-15 loader destined for Japan was app.-oximately 25 cents down from previous fixing. Meanwhile, a 60-cent drop was noted
      UPI  -  240 words
    • Article
      Lock icon Ifalpa hits out at jailing
      96 9 Reuter LONDON, Wed. The International Federation of Airline Pilots Associations (Ifalpa) deplored the Jailing of an air traffic controller in Yugoslavia for criminal negligence. Flight Controller Oradimir Taslc was Jailed for seven years in May for alleged negligence which led to the world's worst mld-alr
      Reuter  -  96 words
    • Article, Illustration
      IN PORT
      374 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Erena (H3TC) (0600 after White Sea hauls) (Clinker) 5 Fujitsukl Maru (JHNY) (1800 after Mercury River) (Subject gas free) (P/O) 15/16 Joasla (LCNA) (0600) (Subject gas free) (P/O) 13/14 Kwangtung (1400 after Dong Shin) 38/39 Lloyd Bakke (1200 after Georgly Chlcherln) 33/34 Ocean
      374 words
    • Article
      Lock icon All-woman motorbike
      85 9 AFP TOKYO. Wed. Motorbikes for women made exclusively by women, that Is ;the motto of the two big manufacturers. Honda and Yamaha. They want to change the image of the motorbike from a "destructive machine for delinquent toughs" to that of an asset to the modern woman for
      AFP  -  85 words
    • Article
      Lock icon Philippines frees Bravery from custody
      190 9 Reuter MANILA, Wed. The Philippine Government has lifted the ban on the departure of the Japanese molasses carrier Bravery, according to the National Seamen's Board today. The director of the board, Mr. Cresencio Slddayao said that the Bravery is now scheduled to leave for Britain
      Reuter  -  190 words
    • Article
      FRANCO BELGIAN SERVICES
      274 9 FRANCO Belgian Services (FBS), a Joint venture between Compagnle Maritime des Chargeurs Reunls (CMCR) and Belgium Far Eastern Lines, was formed in 1975. It operates four conventional vessels monthly on the Far East/ Europe trade, and Is also a member of the Ace consortium. FBS is a
      274 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      598 9 ARRIVALS Sen* Operator Noah M Local Ttaa From OA OA472 0005 SYD/MEL CPA CX003 0145 HKO MAS MH682 0755 KCH CPA CX710 0930 HLP SIA SQ211 1015 HLP OLA GA980 1030 HLP OIA QA908 1100 MBS PAL PR501 1115 MNL SIA SQ240 1040 MES RBA BI325 1040
      598 words
    • Article
      Lock icon VIETNAM CONTAINERISATION
      113 9 AFP HONGKONG, Wed. Vietnam has introduced contalnerlsation in its sea, rail and road transport of freight, the Vietnam News Agency reported yesterday. The agency said the Vietnam Standard Goodscontainer Company under the Mlnlstry of Communi- cations and Transport had just opened five branches at the ports of Haiphong,
      AFP  -  113 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      103 9 Have you got your copy of the 1976/77 BUKU MERAH? 01 Si r r J| <N N It's the 1976/77 "Red Book office/library reference book covering the business scene in Singapore. It is complete. Built up over 80 years and updated each year. This book contains all the vital information
      103 words
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  • Article, Illustration
    Lock icon HISTORY DOESN'T HAVE TO BE REPEATED
    1951 10  -  The world economy: What went wrong By PETER RIDDELL FT A WIDE-RANGING series of proposals about how the main Industrialised countries can move back towards full employment and price stability has been made by a group of leading International economists in a study published
    FT  -  1,951 words
  • Article, Illustration
    Lock icon Plugging the brain drain
    871 10  -  By JOHN ROGERS Reuter THOUGH Western qualifications may still be more highly prized, Asian engineers and top-level technical experts are being trained to international standard in increasing numbers right here in Asia. At the Asian Institute of Technology (AIT), staff and students from some 20 countries
    Reuter  -  871 words
  • Article
    Lock icon STILL A TOUCH OF GLAMOUR
    1016 10  -  Bank of China THE Chinese Government's traditional conservatism in financial matters has led it to reject direct loans as a means of financing foreign trade. Some bankers are wondering if this is now due for a change... By COLINA MACDOUGAL FT EVEN IN a community
    FT  -  1,016 words
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      33 10 Peter Benchley A 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAILY TELEGRAPH 'For the second time -the book you can't put down' -DAILY MAIL Now on Sale at your regular bookshop
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  • Article
    Lock icon Desai strategy to boost economy and check inflation
    728 11 NEW DELHI. Wed. AP PRIME Minister Morarjl Desai's three-month-old Government, confronted with rising prices and sluggish growth, has begun mapping its strategy for stimulating the Indian economy while trying to halt Inflation. The strategy, outlined In the Government's prebudget economic survey, calls
    AP  -  728 words
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    Lock icon Manila reaps reward of higher sales
    353 11 Reuter MANILA, Wed. Philippine balance of payments ended the first quarter of the year with US$7O million (Ssl72 million) surplus as a result of stepped up exports. Central Bank governor Oregorio Licaros said yesterday. This latest figure is a considerable turnround from an original
    Reuter  -  353 words
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      KOTA KINABALU: —
      74 11 KOTA KINABALU: Sabah registered a favourable balance of trade for the first guarter of this year. The balance of trade valued at M 5264.7 million more than the figure of JlOl registered for the corresponding period of last year. Export earnings amounted to $562.8 million from January to March this
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    • Article
      Lock icon KUALA LUMPUR
      169 11 Agencies The Malaysian Electricity Board has awarded a contract to Tata Consulting Engineers of Bombay for construction of Its proposed MS410 million thermal power station at Paslr Gudang, In Johore, a World Bank statement said. KUALA LUMPUR: The Peninsular Malaysia consumer price index fell 0.3 per cent to
      Agencies  -  169 words
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    Lock icon S. Korea begins work on N-plant
    159 11 AFP SEOUL, Wed. South Korea today started construction of its second nuclear power station at Wolsong in its southeastern province at a cost of US$B9O million (552,189 million). A Canadian firm, the Atomic Energy of Canada Ltd. is undertaking the construction of a candutype
    AFP  -  159 words
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      1271 11 J. P. Morgan Co. Incorporated Parent company of Consolidated statement of income 1976 In thousands Interest income from: except per share Loans 989 775 Federal funds sold and securities purchased under agreements to resell 10 014 U.S. Treasury securities 116 519 Obligations of states and political subdivisions 60 616 Other
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  • Article
    Lock icon S. Korea's foreign reserves lifted to a record high
    219 12 AFP SEOUL. Wed. South Korea's foreign currency reserves reached a record high of U553,520 million (558.659 million) at the end of last month on the strength of brisk construction and service exports, according to the Finance Ministry. The figure showed a
    AFP  -  219 words
  • Article
    TEXTILE FIRE TO COST INSURERS $1.35m
    195 12 SIX insurance companies together stand to lose $1.35 million following the fire which destroyed the textile and garment storehouse cum office of Llm Seng Huat (S) Pte Ltd at Circular Road and Boat Quay. They are: Overseas Assurance ($950,000), Edward Lumley ($50,000), Overseas Union
    195 words
  • Article, Illustration
    Export insurance provides cover for more services
    551 12 THE Export Credit Insurance Corporation of Singapore (ECICS) which was set up last year, is developing cover for services such as shlprepalring and consultancy overseas. The new services were announced by Mr. Robert F.L. Martin, chief executive of ECICS, at a Rotary Club
    551 words
  • Article
    Direct BA flights from S'pore to Muscat
    151 12 A 10-MEMBER trade mission from the Singapore Manufacturers Association leaves today for West Asia as guests of British Airways on Its Inaugural direct flight between Singapore and Muscat. The thrice-weekly service is the only direct connection between Singapore and Muscat, capital of the
    151 words
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    Plan to go into finance
    81 12 SOME pawnbrokers are again looking Into the possibility of starting a finance company through a pooling of resources following the lack of official response to their request to be allowed to continue taking in deposits but in diminishing amounts. A group of pawnbrokers feel that
    81 words
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    LONDON STOCKS
    792 12 LONDON. Wed. The stock market moved lower on small selling in a thin market, dealers said At 3.00 pm the Financial Times index was down 4.4 at 451 0 The defeat in Parliament for the Government at the committee stage of its finance bill was the main depressant.
    792 words
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    Lock icon Two sources help dispel doubts of Taiwan's future
    401 12 AFP TAIPEH, Wed. Strong United States Government support and the good sense of the US business community have helped Taiwan in tiding over doubts about its future, visiting managing director of the US-ROC (Taiwan) economic council, Mr William Morell, said here today.
    AFP  -  401 words
  • Article
    Seaborne cargo up 4pc
    111 12 SEABORNE cargo discharged and loaded at Singapore increased slightly in April by 4.2 per cent to 5,386.1 freight tonnes (FT) compared to the preceding month. Cargo loaded fell by 15.8 per cent to 1,858 freight tonnes in April compared with March, but managed not to slide
    111 words
  • Article
    CASE opens its door to business
    331 12 THE Consumers' Association of Singapore (CASE) will be Introducing corresponding membership for the business sector. Under an amendment to its constitution, corresponding members would be able to obtain Information from CASE to enable them to improve their sales methods for the betterment of consumers
    331 words
  • Article
    Next on list — retailing and industry woes
    142 12 Next on list retailing and industry woes THE Chinese Chamber of Commerce is to meet representatives from the retail business to discuss their problems. The closed-door exploratory discussion will specially highlight the provision stores. Another discussion will deal with the problems faced by the local manufacturing sector with emphasis on
    142 words
  • Article
    SUED FOR $40,000
    75 12 CHIN Huat Chan Co. Pte. Ltd. yesterday filed a suit In the High Court against Ngo Chee Keo, trading as Kwang Kee Hang, for M 0.357 allegedly due for goods sold and delivered to the defendant. Welhaln Jack ft Co. (Singapore) Pte Ltd. also sued Tan Ah
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    Lock icon AMERICAN FIRM ON IRANIAN BLACK LIST
    179 12 AFP TEHRAN, Wed. The US engineering consultants Harza have been put on an Iranian "blacklist" for "negligence" in connection with a dam project, press reports said here today. The decision was made by an imperial commission of inquiry, the reports said. Other sources alleged
    AFP  -  179 words
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    Lock icon Business sector calm as Spanish go to polls
    336 12 AFP MADRID, Wed. The Spanish business community was today showing a good deal of calm over the apparent thrust of the Left as voters went to the polling stations. This serenity was reflected yesterday In a 2.5 point rise on the Madrid
    AFP  -  336 words
  • Article
    Direct call to S. Korea
    44 12 SINGAPOREANS can now look forward to calling directly persons In South Korea following Telecoms' Introduction of Its international direct dialling telephone service to that country. The number of countries with which Singapore has such a service now numbers 19.
    44 words
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    Lock icon Bergland will urge KL to buy more
    406 12 AP KUALA LUMPUR. Wed. United States agriculture secretary Bon Bergland arrived here today for a three-day visit during which he hoped to convince Malaysia to buy more American farm products. Malaysian officials said they wanted the United States to buy more Malaysian agricultural
    AP  -  406 words
  • Article
    Lock icon Gradual cutback of funds to OAS says Vance
    316 12 AFP ST. GEORGE (Grenada), Wed. The United States will cut back Its financial contributions to the Organisation of American States (OAS) from 66 to 49 per cent within the next 10 years. Secretary of State Cyrus Vance announced here. At the same
    — AFP  -  316 words
  • Article
    Turning to Indonesian woods
    114 12 JAKARTA, Wed. European wood importers are looking to Indonesia as an alternative source for their tropical wood because Imports from Africa were getting more and more expensive, an Indonesian Agriculture Ministry official said yesterday. The Director General for Forestry Affairs at the ministry, Mr Sujarwo, told
    114 words
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      196 12 Give us a man for a monthwe'll give him a language for life now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in
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