The Business Times, 15 December 1977

Microfilm: NL9610
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, DECEMBER 15, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Opec meet put off?
      66 1 UPI. CARACAS, Wed. President Carlos Perez has formally suggested postponing the Organisation of Petroleum Exporting Countries meeting scheduled here on Dec. 20. Venezuelan Energy Minister Valentin Hernandez left on Tuesday night for West Asia to consult Persian Gulf Opec members on delaying the conference. The reason
      UPI.  -  66 words
    • Article
      Lock icon Snail's pace
      58 1 UPI. TOKYO, Wed. Tokyo department store sales, a sensitive barometer of future trends-in Japan's domestic economy, rose at their slowest pace In two years in November. The Japan Department Stores Association yesterday said that sales in 26 major stores amounted to 120.42 billion yen (551,178 million), 1.7 per
      UPI.  -  58 words
    • Article
      Lock icon Verging on $1b
      78 1 UPI MANILA, Wed. The Philippines' annual oil Import bill is expected to exceed US$l billion (552.35 billion) for the first time this year. The state-owned Philippine National Oil Company said that oil imports for the first 11 months of this year already totalled $922 million and if
      UPI  -  78 words
    • Article
      Lock icon Fraser majority
      83 1 Reuter CANBERRA, Wed. Prime Minister Malcolm Fraser appeared likely to have a majority of at least 51 seats in the Lower House of Parliament and six In the Senate (Upper House), according to the latest returns tonight of votes cast at last weekend's general election. Mr. Fraser's Liberal
      Reuter  -  83 words
    • Article
      Lock icon EEC chief in Thailand
      74 1 UPI. BANGKOK, Wed. The Vice-President of the European Economic Commission, Wilhelm Haferkamp, said today the EEC expects growing cooperation with Asean. Mr. Haferkamp, on an official visit to Thailand, said he and the Thai government had reached an understanding which would make an EEC tariff barrier
      UPI.  -  74 words
    • Article
      External debt
      67 1 MANILA, Wed. The Philippines external debt In the first nine months of 1977 Increased to U556.43 billion (Ssls billion) from $5.31 billion in the same period last year and $5.52 billion at the end of 1976, the Central Bank reported. The private sector accounted for 72 per cent
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    • Article
      Lock icon $7.4 b Saudi deal
      62 1 AP JEDDAH, Wed. A western telecommunications consortium is reported to have won a US$3.l billion (557.4 billion) contract to expand Saudi Arabia's automatic telephone network. The contract to Install about a half million telephone lines in 72 cities and towns was awarded to Philips, based in
      AP  -  62 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      180 1 PRICES rallied in early trading on the Stock Exchange of Singapore yesterday but retreated in the afternoon ai support weakened. Consequently, moat counter* finished off their day's best. The volatile Business Times index rose to a new high of 482.86 for a gain of 7.12 points while
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    • Article
      In Kuala Lumpur
      103 1 Rite* Most active 0. Ceramics 2.11 D. Keramat 8.40 A. HI lam Tin 8.80 C. Sugars 2.51 B. Raya 1.45 Lien Hoe 2.02 Bolton 135 Foils Loytape 0.99 S.H.Chan 2.08 Jairline SEA 182 Tronoh 5.75 Berjuntal 8.00 1.M. Text 0.28 .15 +.10 +.10 .06 .05 .04 .04
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  • Article
    Top earners in finance league
    1004 1  -  COMMERCIAL BANKS LEAD By JOHN TAN COMMERCIAL banks dominate the Singapore financial scene In terms of earnings and number of workers employed. In 1974 they employed 62 per cent of all workers In the finance sector and grossed $3.39 billion In operating receipts, leading to
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  • Article
    Lock icon Banker calls for action on dollar
    209 1 Reuter. LONDON. Wed. The dollar's fall sharpened today on the anxious foreign exchange markets In Europe and a leading West German banker urged President Carter to make a statement to stop a worsening currency crisis. In hectic and nervous trading, the dollar began tumbling
    Reuter.  -  209 words
  • Article
    Lock icon Japan to cut import tariffs on 124 items
    713 1 Reuter. TOKYO, Wed. Japan Intends to cut Import tariffs on 124 Items including cars and computers as part of moves to reduce Its huge trade surplus, the government announced today. It will also expand Import quotas for high quality beef (about 80
    Reuter.  -  713 words
  • Article
    Lock icon Taiwan bails out textile industry
    302 1 UPI TAIPEI, Wed. The Taiwan Cotton Spinners Association will buy 300,000 spindles which will be destroyed under a government plan to assist the textile Industry. The association will buy the spindles with a 10-year government loan of about US$l2 million (5528.3 billion). The government's plan
    UPI  -  302 words
  • Article
    Lock icon Surprise 13pc jump in Iranian oil exports
    237 1 UPI TEHERAN, Wed. Iranian crude oil exports rose 13.4 per cent in November because an international consortium of oil companies stepped up purchases, the National Iranian Oil Company said yesterday. The surprise jump in exports, despite a current oil glut and Iran's stated
    UPI  -  237 words
  • Article, Illustration
    Undisputed centre for Asian $ market
    494 1  - Undisputed centre for Asian market ■y COLIN CHEE SINGAPORE will remain the centre (or the Asian dollar market and Hongkong is unlikely to take over this role. This forecast was given by a leading Hongkong banker who also described Singapore's growth as a financial centre in the region as dramatic.
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      48 1 AKAI |;S d i', li'in" ill) thai puis no punches. 11l I Oversea* New*/ TV ft Radio Overseas Newa/Crosswords Local Co. News Overseas Stocks -P7 -P2 Commodities .pg Transport Communi--P3 cations -P9 -P4 Features -PlO International Co. News -P5 Local ft Overseas Local Stocks -W News •PU, IS
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      Page 1 Advertisements Column 2
      121 1 i 60* A MOST EJ&nNGOSHED (Mi! Peugeot 604 exudes luxury. It's rigid body is protected by Electrophoresis and six handsprayed coats of paint plus a top layer of varnish. Insulation from noise and vibration is achieved via a floating differential, seats that are tuned to the fully independent suspension and
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      6 1 SEE BACK PAGE SEE BACK PAGE
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      270 1 @:=,"+>*@;<}_;-^};\:>]/;!$:}`"/ SEE BACK PAGE. Which bank delivers you a whole world of financial knowledge? We do. Bank of America. When it conies 10 finance, we arc there our money centers and branches around the globe keep u> in constant daily touch with fluctuations in all major currencies. We have the
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  • OVERSEAS
    • Article
      Lock icon American farmers to meet Congress over strike threat
      1148 2 PLAN TO HALT FOOD DISTRIBUTION NYT. DENVER, Wed. The American Agriculture Movement, the loosely knit organisation that, motivated a tide of farmer discontent only three months after its Inception, approached its strike deadline today without any promise of the government meeting Its
      NYT.  -  1,148 words
    • Article
      Lock icon Rock-and-bottle violence at US coal mines
      214 2 AP NEW YORK, Wed. Violence and vandalism were reported in several US states yesterday as a strike by 10,000 United Mine workers enters its second week. Authorities and coal company operators in Pennsylvania, Kentucky and Kansas reported the incidents, which resulted in injuries and
      AP  -  214 words
    • Article
      Lock icon Americans willing to pump capital into Israel again
      281 2 AP I NEW YORK, Wed. I Encouraged by recent economic reforms and new peace Initiatives in the Middle East, many American companies are "thinking seriously for the first time In years" about increasing trade with Israel. The president of a political research
      AP  -  281 words
    • Article
      Dim hopes of firemen accepting new offer
      1023 2 LONDON, wed. Hopes j that Britain s striking flreI fighters would accept the I latest government pay offer were dim today as their leaders gathered In London for a final poll on the deal already rejected by most regional unions. The pay offer
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    • Article
      Lock icon Soviets agree to reveal more crop information
      427 2 UPI, Reuter. MOSCOW, Wed. The Soviet Union and the United States signed a protocol, yesterday extending an agreement on cooperation In agriculture and giving US experts Increased access to Soviet crop Information. "We still can't get as much Information as we give them
      UPI,; Reuter.  -  427 words
    • Article
      Lock icon Budgeting for efficiency
      149 2 Reuter MOSCOW, Wed. The Supreme Soviet Parliament today begins three days of talks to approve a budget and economic plan for 1978 that Is likely to emphasise Improvement In Industrial efficiency. ..Western observers traditionally watch for two key figures at the Supreme Soviet's year-end sessions the grain
      Reuter  -  149 words
    • Article
      Lock icon OECD bid to create more jobs for youth
      264 2 Reuter. PARIS, Wed Labour ministers from leading noncommunist industrial countries will tackle the problem of growing unemployment among young people at a two-day meeting opening here today. The ministers, of the 24natlon Organisation for Economic Cooperation and Development (OECD), will swap Ideas
      Reuter.  -  264 words
    • Article
      Lock icon EEC Assembly poll delayed by Britain
      254 2 UPI, Reuter LONDON, Wed. Parliament voted last night against using a proportional representation reglonal list system for i electing British members to I the European Parliament, and forced a delay In the j election until 1979. The vote was 319 to 222, a majority
      UPI,; Reuter  -  254 words
    • Article
      Lock icon Disastrous coffee crop expected
      100 3 AFP SAN SALVADOR. Wed. The 1977-78 coffee crop in El Salvador and other Central American countries will be "disastrous." The director of the national coffee company, Rlcardo Falla, estimated the El Salvador crop at 1.6 million bags, a drop of one million bags compared with the
      AFP  -  100 words
    • Article
      Lock icon Treasury auction
      50 3 Reuter WASHINGTON, Wed. The Treasury said it will auction US$3 billion (SS7.I billion) in two-year notes on Dec 21 to refund $2.43 billion in maturing securities and raise new cash. The bills are to be available in minimum denominations of $5,000. Yield will be determined at auction. Reuter
      Reuter  -  50 words
    • Article
      Vienna GNP
      31 3 VIENNA, Wed. Austria's third quarter gross national product was 2.1 per cent higher in real terms than in the same quarter last year, the Institute for Economic Research said.
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    • Article
      Lock icon West payments gap narrows
      483 3 Reuter WASHINGTON, Wed. The overall balance of payments deficit of the industrialised world narrowed to 306 million Special Drawing Rights (SDR) In the second quarter from 2.67 billion in the first and 1.18 billion in the second quarter last year. The International Monetary Fund (IMF) said
      Reuter  -  483 words
    • Article
      Lock icon Money supply up
      101 3 Reuter ROME, Wed. Italy's M-2 money supply rose one per cent in September to 168.8 trillion lire, compared with a 0.4 per cent Increase In August. The Bank of Italy said on a year-to-year basis, M-2 rose 20.8 per cent against 5.1 per cent the previous month.
      Reuter  -  101 words
    • Article
      Lock icon High returns guaranteed by new annuity plans
      759 3 NYT NEW YORK, Wed. The annuity, an old-fashioned way to save for retirement, is finding new expression in no-commission policies that offer, at least for the present, high returns on a taxdeferred basis. The annuities in question are said by their sponsors to
      NYT  -  759 words
    • Article
      Lock icon Financial report that masks the firm's health
      218 3 AP NEW YORK. Wed. The failure of American businesses to take inflation fully into account in their profit statements tends to create a misconception about the cooperation's health, the US Securities and Exchange Commission chairman said yesterday. While 1976 after-tax corporate profits were
      AP  -  218 words
    • Article
      Old Parr
      35 3 TOKYO. Wed. Japan *s Fair Trade Commission (FTC) yesterday started probing an Import and saies agent for Old Parr, one of the best-known Scotch whisky brands, on suspicion of violating the antimonopolv law.
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    • Article
      Lock icon Devalue idea unreal
      231 3 Reuter STOCKHOLM, Wed. Four leading Swedish economists have recommended devaluing the Swedish crown another 15 per cent, cutting taxes, scrapping current austerity policies and creating a three-year social contract to curb wage rises and inflation. However, Sweden's Economy Minister Goesta Bohman described the devaluation proposal as "totally
      Reuter  -  231 words
    • Article
      Lock icon Tax cuts hinge on size of pay increases
      373 3 Reuter. LONDON, Wed. The chance of further British income tax cuta next spring would be severely reduced if pay increases of 20 to 30 per cent are granted. Prime Minister James Callaghan told Members of Parliament there is a real chance of
      Reuter.  -  373 words
    • Article
      Lock icon Credit mart debt
      87 3 Reuter NEW YORK. Wed. Salomon Brothers parer and economist Henry Kaufman said credit market debt will increase substantially next year and interest rates will rise, reflecting continued real economic growth and accelerating Inflation. Mr. Kaufman told a Conference Board seminar on inflation and corporate management the higher
      Reuter  -  87 words
    • Article
      Lock icon Germany may hold back $ intervention
      1076 3 Germany may hold back intervention NYT Reuter, FRANKFURT. Wed. The apparent lack of any concerted agreement to support the dollar at the central banicers meeting in Basle may force the Bundesbank to restrain Its foreign exchange Intervention. The Bundesbank has accumulated around five billion marks (555.4 billion) of foreign exchange
      NYT; Reuter,  -  1,076 words
    • Article
      Lock icon Bonn prices dip
      93 3 Reuter. WIESBADEN (West Germany), Wed. The German wholesale price index, (Base* 1970), fell 0.6 per cent from September to 145.1 In October and 0.5 per cent less than In October, 1976, the Federal Statistics Office said. In September, when the index was calculated on base 1962, It
      Reuter.  -  93 words
    • Article
      Lock icon Canadian traders still gloomy about outlook
      325 3 Reuter. OTTAWA, Wed. Canadian businessmen are no less gloomy about the future of their economy now than they were three months ago when their confidence hit a record low, the Conference Board of Canada said yesterday. The board, a private research group, said Its
      Reuter.  -  325 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      265 2 This announcement appears as a matter of record only. November, 1977 HOKUSHIN ELECTRIC WORKS, LTD. SiUttsmmtsKfn U. 5.510,000,000 6%% Convertible Bonds 1992 Daiwa Securities Co. Ltd. Bayerische Vereinsbank DBS-Daiwa Securities International Limited Dillon, Read Overseas Corporation First Chicago Asia Merchant Bank Limited Hill Samuel Pacific Limited Manufacturers Hanover Asia, Limited
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      366 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 pm on Dec 14 at Singapore airport. Maximum Temperature 29.9° C Associated Humidity 7$ Minimum Temperature 22.9° C Associated Humidity 99 Haurs of Sunshine 0.60 Rainfall in Millimetres 0.9 Total Rainfall for the Month 112.8 Total Rainy Days for the
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      118 3 The international bank with your interests at heart. Dai-lchi Kangyo Bank is Japan's largest bank. With assets of over 46 billion dollars But our size doesn't make us impersonal. A worldwide staff of financial experts ready to give your project their individual attention. And we have your interests at heart.
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      612 3 THE TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Short snappy drink (6) i Island with an explosive his-' tory (8) 8 Nosy game? (6) 10 East 8 (5? r f ne S frlends out 13 Best type for Wimbledon grass? (4) J 4 Flogging place (4) •5 Security device one has
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  • COMPANY NEWS
    • Article
      N. Borneo Timbers halves its stake in Harper Gilfillan
      699 4 SALE MADE TO UK COMPANY NORTH Borneo Timbers Is to sell off a portion of Its Investments In Syarlkat Harper Gilfillan to UKbased investment group Blyth, Greene, Jourdaln and Company. The sale, consisting 1.13 million ordinary shares and M 51.62 million
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    • Article
      Central Sugars reveals investment loss
      323 4 CENTRAL SUGARS is now showing a paper loss of SI 17,642 on the portfolio of quoted Investments held by its subsidiary, CS Investments. This is gauge from the information released by the company to the Kuala Lumpur Stock Exchange in reply to earlier queries regarding
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    • Article
      Lock icon It's only a guessing game
      764 4 NYT. NEW YORK: With 1977 drawing to a close, businessmen are once again anxiously listening to what economists have to say about the year to come. Yet when businessmen are not beseeching economists to forecast, they are deriding the economists for their inability to make
      NYT.  -  764 words
    • Article
      DIVIDENDS ANNOUNCED
      381 4 Current Ex Date Total for Total for payment Date payahte theynar previous year Tuck Cement 7W%(J) Oct 26 Dec 17 12.5% Mineral Securities 10* Dec 1 Dec 19 20% 12.5% Toshiba UIC <■ B.M. Trust Sorran 12%TE Nov 29 Dec 21 12% 20% Dec 5 Dec 22 20%
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    • Company Meetings
    • Article
      Bacteria used for making brain hormone
      183 4 NEW YORK. Wed. Genentech, a Californ'.an company, said that it expects to use bacteria to manufacture a human brain hormone called somatostatin by the middle of next year, and human insulin within a year. The move, disclosed by a company official, marked the first
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    • Article
      PEOPLE IN BUSINESS
      121 4 METAL Box Singapore Ltd has announced that Mr. P.B. Blackwell has completed his term of office as managing director and will be returning to UK to Join Metal Box Packaging Ltd as group manager. Mr. Lim Ifang Keat replaces Mr. blackwell as from Dec 12. The other
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    • Article
      Lock icon Indictments against Velsicol an outrage
      832 4 NYT CHICAGO: The 11-count felony indictments against the Velslcol Chemical Corp. and six of its junior or former officers and employees allege that from August. 1972 to July, 1975, the defendants used the mails and conspired to defraud the United States and conceal material facts
      NYT  -  832 words
    • Article
      CHICAGO BOARD OPTIONS
      1518 4 On Dec 13 CHICAGO Board Options Exchange volume was 74,367 contracts on Tuesday, up from 67,050 on Monday. OPTION JAN APL JLY STOCK Alcoa Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel Atl R AtlR Avon Avon-P Avon Avon-P Avon Avon-P Bank Am Bank
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    • Article
      SMT makes its debut on KLSE
      621 4 SOUTHERN Malayan Tin Dredging (M) makes Its debut on the Kuala Lumpur Stock Exchange yesterday. replacing on the lists Southern Malayan Tin Dredging Ltd. the British company whose assets have been taken over by the new Malaysian one as part of the scheme of
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      60 4 This announcement appears as a matter ot record only TIMUR CARRIERS (PRIVATE) LIMITED US $16,000,000 Medium Term Loan GUARANTEED BY BULKSHIPS LIMTED and THOMAS NATIONWIDE TRANSPORT LIMITED MANAGED BY Wardley Limited FUNDS PROVIDED BY The Royal Bank of Canada Wardley Limited The Bank of New York Credit Suisse The Hongkong
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon SEC plans to make off-board trading statement soon
      212 5 NORTH AMERICAN COMPANIES Reuter. SECURITIES and Exchange Commission chairman Harold Williams said the SEC hopes to make a statement by the end of the year on Rule 390 on off- board trading to provide a sense of direction for the Industry. Mr.
      Reuter.  -  212 words
    • Article
      Lock icon Shell bond coupon
      60 5 Reuter. ROYAL Dutch/ Shell group's forthcoming US$5OO million. 12-year Eurobond will bear a coupon of 8.25 per cent but issue price has not yet been set, a Union Bank of Switzerland official said. The loan, announced In London on Friday evening, is being managed by a syndicate
      Reuter.  -  60 words
    • Article
      Lock icon Gulf will see good growth in years ahead
      170 5 Reuter. GULF and Western Industries sees Itself in a sound position to sustain above average growth in the years ahead, president David Judelson said. In the seven years from 1970 to 1977 the compound growth rate of fully diluted earnings per share
      Reuter.  -  170 words
    • Article
      Lock icon Little consumer response to Asarco hike
      210 5 Reuter. LEADING copper traders here reported little, If any increased consumer buying following Asarco's 2.50 cent rise In its producer price. The lack of a significant increase in consumer buying was labelled somewhat surprising by a number of traders. Ordinarily, they said, consumers would
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    • Article
      Chrysler Corp
      76 5 CHRYSLER CQrp said it may have to postpone the announced conversion of Its Jefferson car assembly plant to vans and trucks, or may be forced to close the plant, because of the Department of Transportation's proposed truck fuel economy standards for the 1980 and 1981 model years. A
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    • Article
      Lock icon Successful year for Daimler
      98 5 EUROPEAN COMPANIES Reuter DAIMLER-BENZ has had another successful year in 1977. with the final turnover figure put at some 25.5 billion marks compared with last year's 23.5 billion, management board chairman Joachim Zahn said. Mr. Zahn, addressing the group's end of year press conference, said Daimler
      Reuter  -  98 words
    • Article
      Lock icon Investerings
      28 5 Reuter. THE Natlonale Investeringsbank 100 million guilder 8% per cent debenture loan due 1979/88 priced at par has been heavily oversubscribed, Algemene Bank Nederland said. Reuter. I
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    • Article
      Lock icon Wereldhave loan coupon set at 7pc
      164 5 Reuter. THE BelegglngsmiJ Wereldhave 30 million guilder convertible debenture loan will carry a 7 per cent coupon over seven years, Algemene Bank Nederland 1 said. 1 The bonds will be redeemed at par in four 1 nearly equal annual lnstal- < ments starting Jan
      Reuter.  -  164 words
    • Article
      Lock icon Investment Bank
      67 5 Reuter COMECON'S International Investment Bank has signed a US$6OO million seven-year Eurocredlt facility with a group of international banks. Chase Manhattan said as lead manager. The loan carries an interest margin of one per cent over London Interbank offered rates. Proceeds will be used partly in the further
      Reuter  -  67 words
    • Article
      Lock icon Continental Illinois expects record
      117 5 Reuter. CONTINENTAL Illinois Corp will report record earnings for 1977, vice chairman Donald Miller said. For 1976 the bank's holding company reported record operating earnings of US$l3l million or $3.73 a share, adjusted for a two-for-one stock split last May. Mr. Miller indicated the gain in
      Reuter.  -  117 words
    • Article
      Lock icon ATT redeems debentures
      109 5 Reuter. AMERICAN Telephone and Telegraph Co said US$BOO million of its 30-year 8% per cent debentures were redeemed under a partial redemption plan which has ended. ATT said about 660,000 holders of the issue were requested by mail to return their certificates. The company said it is
      Reuter.  -  109 words
    • Article
      Lock icon Westinghouse
      39 5 Reuter. WESTINGHOUSE Electric Corp said Taiwan Power Co placed an US$B million order for two 618.000-square-foot (57.000 sq m) aouoie-sneu surface condensers for Its third nuclear power station. Westinghouse said the condensers will be shipped during 1979. Reuter.
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    • Article
      Lock icon German businesses should pick up
      101 5 Reuter. COMMERZBANK said West German business activity should pick up next year as a result of impending tax reliefs and measures planned to promote capital spending. In its latest stock market round-up, the bank said company earnings should Improve again, provided pay deals are more
      Reuter.  -  101 words
    • Article
      Lock icon UBS
      20 5 Reuter UNION Bank of Switzerland said its 100 million franc 4 per cent 15-year loan was fully subscribed. Reuter.
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    • Article
      Toquepala miners defy warning
      116 5 AN Indefinite strike by 3,000 workers at the Toquepala copper mine in southern Peru is entering its fifth day on Tuesday, trade reports here said. Miners ignored a government warning of more dismissals If they failed to return to work, the reports said. But there have
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    • Article
      Lock icon US tyre industry output peaks
      176 5 Reuter. THE US tyre Industry will produce 255 million car and truck tyres In 1977, nearly 7 per cent more than the previous production record in 1972, Goodyear Tire and Rubber chairman Charles Pllliod said. He said car tyre output will rise 25 per cent
      Reuter.  -  176 words
    • Article
      Pemex
      28 5 THE subscription agreement for the Petroleos Mexlcanos (Pemex)«even million Kuwait dinar 8 1/2 per cent ten-year Eurobond has been signed, lead manager Kuwait Investment Company (SAK) said.
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    • Article
      Lock icon The US chewing gum industry
      1363 5 NYT. NEW YORK: "Trident Is riding the crest of the wave." "Bubble Yum has blown the market wide open". "Orbit is in a holding pattern." These are some of the bulletins from an industry that has stretched its horizons beyond the Imaginations of only five
      NYT.  -  1,363 words
    • Article
      Lock icon Bid offer for Landoil
      149 5 ASIAN COMPANIES Reuter AN unidentified buyer is offering 1.3 centavos a share for one billion shares of Landoil Resources Corp, representing about 7 per cent of its issued capital, according to a newspaper advertisement placed by a local stockbroklng firm. The company's shares have been suspended
      Reuter  -  149 words
    • Article
      Lock icon PNC to search for uranium
      140 5 Reuter. JAPAN will soon start uranium prospecting In Western Australia in separate Joint ventures with Magnet Metals and Australian Consolidated Minerals, the Power Reactor and Nuclear Fuel Development Corp (PNC) said. The contracts were approved by the Australian Government, it said. The deal with Magnet
      Reuter.  -  140 words
    • Article
      Lock icon P & O share issue oversubscribed
      93 5 P O share issue oversubscribed Reuter. BROKERS JB Weje and Son said the 6.25 million Asl par share issue by P and O Australia at $1.80 per share closed heavily oversubscribed. The issue represents 25 Er cent of P and O Austra.'s post-issue share capital, with the Peninsular and Oriental
      Reuter.  -  93 words
    • Article
      Lock icon Mitsui Engineering delivers ship
      97 5 UPI MITSUI Engineering and Shipbuilding said it has delivered a 21,793-tonne cargo ship to its Liberian owner, toafra Shipping. The company said the ship. America, is the first of two identical vessels ordered by the Liberian firm. The America is equipped with five cargo holds and
      UPI  -  97 words
    • Article
      Lock icon Marsteel in diesel engine joint venture
      94 5 Reuter MARSTEEL Corp will form a joint venture company with Kubota and Marubeni Corp of Japan. Mr. Agaplto Kalingklng, head of the me la is ana mining section of the Philippine Board of Investments, said. He said the firm will be named Kubota-Marsteel Machinery
      Reuter  -  94 words
    • Article
      Electricity prices for A. Smelter will be raised
      92 5 THE New Zealand Government reached agreement with New Zealand Aluminium Smelters under which the price of electricity supplied to its bluff alumina smelter will be raised "very substantially Prime Minister Robert Muldoon said. He declined to specify the size of the increase,
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    • Article
      Lock icon Cail gets Pakistan coal contract
      82 5 Reuter. COAL and Allied Industries* (Call) contract to supply coal to Pakistan Steel Mills Corp will probably cover around one million tonnes of coal over a five-year period from 1979/80, chief general manager J.R. Bennettt said. The initial rate may be around 100.000 tonnes a
      Reuter.  -  82 words
    • Article
      Lock icon Big setback for Tokyo companies
      358 5 FT. OWING to a prolonged recession, coupled with the recent higher yen exchange rate, Japanese corporations experienced a severe profit setback for the six months ended September, 1977. The setback followed three consecutive terms of rising profits from March 1976 to March 1977. Current profits
      FT.  -  358 words
    • Article
      Lock icon Philippine 'Phone to raise loans
      94 5 Reuter. THE Philippine Long Distance Telephone Co Is raising US$l4O million through two tranche credit, said European Asian Bank which will be acting In the capacity of loan manager. In syndication is a $77 million 7V» year credit with Interest at 1.82 per cent above
      Reuter.  -  94 words
    • Article
      Lock icon Wapet abandons oil well
      84 5 Reuter AMPOL Exploration said West Australian Petroleum (Wapet) reported that offshore well Peel Number One, 50 km south-west of Perth, Western Australia, was plugged and abandoned after reaching a depth of 3,714 metres without encountering any significant hydrocarbon shows. The well was drilled by Phillips Australian
      Reuter  -  84 words
    • Article
      Lock icon Toyota Motor
      50 5 Reuter. TOYOTA Motor Co said It plans to sell 1.42 million vehicles on the domestic market next year, up 8.4 per cent from an estimated 1.31 million this year. Exports are expected to total about 1.40 million units in 1978, virtually unchanged from this year, It said. Reuter.
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    • Article
      Lock icon Thai Air to increase capital
      108 5 AFP. THAI International Airlines have requested authorisation to increase Its capital to 800 million baht, Communications Ministry sources said. Meanwhile, the Thai Government has given Thai International the green light to buy two new Airbus A 300, a Toulouse-built European twin-reactor plane, for a total
      AFP.  -  108 words
    • Article
      Lock icon Nippon ups prices
      28 5 Reuter. NIPPON Mining Co said It raised Its domestic selling price of electrolytic copper to 330,000 yen per tonne from 320,000 yen, effective Immediately. Reuter.
      Reuter.  -  28 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      83 5 A Very Special Christmas For Someone Very Special At Four Seasons X'mas is something very special. Exquisite food, soft music and elegant surroundings guaranteed to light up the X'mas spirit in you. Celebrate Christmas the way it should be elegantly at Four Seasons of course. X'mas Eve Dinner Dance $35
      83 words
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  • Article
    Share Informatin Service
    2367 6 1*77 i Hi®h Low Company Last Sale +orGr'i Gr'» Net div Dhr yld P/E c'vr Vol Day COOO) High Low SECTION ONE INDUSTRIALS 154 204 116 246 88* 205 160 259 422 146 134 165 58 212 57 155 152 182 350 91 Acma Alcom Allied Choc
    2,367 words
  • Article
    Transactions in Singapore
    1165 6 E l PrioM officially Hated ud biiaißMa in tad to the Stock Eickun 8h«»P«w yaatarday withthe *fcewn in brackets in lot* of 1.000 uniu u-i-ae otherwise .pectfled. All tim Settlement Contract! are quoted after the world "Sett". Big Board deal* (la lota of 2,000 quoted after the
    1,165 words
  • Article
    In Kuala Lumpur
    1372 6 BID and offer price* officially lifted and buaineaa in and reported to the Kuala Lumpur Stock Exchange yeaterday with the number of ftharea traded ahown in bracketa 1n lota of 1,000 unita unleaa otherwise ipecifled. IN OUSTRIAL4 AKam (1.678 1.708). A. Ctm (1 108) (2) 1.10. A.M.D.
    1,372 words
  • Article
    Stock options
    50 6 STRIKING price* 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. C and C (Dec $1.90) (0.628 0.658). March $1.90) (0.558 0.708). (March 12.30) (0.278 0.305).
    50 words
  • Article
    Unit trusts
    148 6 SINGAPORE UNIT TRUST INCOME BOND ITNIT (Miu|cn prtce for Dec IS) (Current pi INCOME BOND The Commerce The Saving Fund 1.77 1.06 1.88 1.12 1 08 1.19 S'pore Prog Fund 0.84 0 89 MARA BUMIPUTRA FUND S pore Security (Managers' prices tor Dec IS) Fund 163 1.73 First
    148 words
  • Article
    CORPORATE BONDS
    162 6 B O T 8 1/2% 1981 (100,000) (100HB 101*8) B O T 7 5/8% 1984 (100,000) (96*8 97*8) LTCBJ 1982 (100,000) (98SB 99*8) Credit Lyonnaia Floating 1983 (100,000) (97*8 98*8) DBS Convert* 6 1/2% 1991 (100,000) (95*8 96*.5) D B S 8 1/2% 1982 (100,000) (100 *B 101
    162 words
  • Article
    GOVERNMENT BONDS
    130 6 Rep Spot* D Mark 7% I*B2 (100.000) (102*B 103*8) Rep Spore 6 1/2% 1983 (100.000) (1028 1038) Rep Spore 7 3/4% 1987 (100.000) (99H8 100WS) Hokuahin Electric Convert! 6 3/8% 1984 (lOO.OOO) 98 SS) C I ton 8 1/8% 1984 (100.000) (97 SB 97SS) 4 3/4% 1/5/79 (250,000)
    130 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      649 6 sinGapura ContowMal HoWa 586 Orchard Road, S'pore 9. Tel: *****2 406/407 Havelock Road, S'pore 3. Tel: *****1 Pebble Bar Experience the unique expression of Tanla Great Sound Big Show You'll love the dynamic and versatile Tanla For memorable yester hits and today's favourites. Only happens at the Pebble Bar Dally
      649 words
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  • Article, Illustration
    SLIGHTLY STEADY
    554 7 THE Stock Exchange of Singapore ruled shade steadier in another round of quiet and selective trading yeaterday. The market opened on a Ann note but slid in the afternoon as profit-taker* moved in and made their preeence felt. The market cloeed on a slightly stead} basis. Turnover of
    554 words
  • Article
    KLSE MOVES HIGHER
    415 7 A STEADIER note ruled on the Kuala Lumpur Stock Exchange yesterday as prices moved marginally higher on. light selective support. However, trading conditions were still dull and quiet, and the bulk of the day's business was again confined to the handful of second and third line issues.
    415 words
  • INTERNATIONAL STOCKS MARKETS
    • Article
      Hongkong
      322 7 HONGKONG: The market again closed little chanced yesterday on very low turnover with no buying or selling Interest appareiit. Dealers said among leading stocks, Swire Pacific rose Ave to 5.95 while others were unchanged. The Hang Seng Index rose 0.66 point to 418.90. Turnover on the four exchanges totalled
      322 words
    • Article
      Tokyo
      476 7 TOKYO: Share prices closed sharply higher In light trading yesterday. Dealers said the Dow Jones average rose 30.44 to close at 4,808.97 with volume 170 million shares. The new index was 358.58 up 1.92. After an Initial decline on slow progress at the US-Japan trade talks and the yen's
      476 words
    • Article
      Sydney
      394 7 SYDNEY: The market closed mixed in moderate trading yesterday. The Sydney All-Ordinaries rose 1.14 points to 453.92. Dealers said uraniums eased with Pancontinental down 40 cents to at A 510.60 and Queensland 20 cents lower at $2.25. Pefco Wallsend gained 10 cents to >5.30 and the Bank of NSW
      394 words
    • Article
      Manila
      152 7 MANILA: The market closed mixed yesterday with commercials advancing minimally while minings and oils declined. Dealers said turnover rose to 5.03 million pesos from Tuesday's 4.28 mlTllon. Atlas rose one point but other mining issues had fractional losses. Oil issues declined slightly but In commercials, Saa Miguel gained two
      152 words
    • Article
      Bangkok
      114 7 DEC 14 Bahu Ail* Fibre 244 -1 Bangkok Bank 381 -2 Bangkok Invest 332 •14 Bangkok-Metro-politan Bank Bata BerllJucker 562 -6 CharoongThai Wire 308 -6 Duroex DusltThanl Faber Merlin First Trust 313 -5 Oenera Finance Indo-Thai Industrial Finance Corp 2075 -40 J And J Ho Jaiaprathan Cement 276 -13
      114 words
    • Article
      Amsterdam
      293 7 AMSTERDAM: The market fell In quiet trading on Tuesday In reaction to the dollar's weakness. Dealers said Royal Dutch led Dutch internationals up to one guilder lower. Elsewhere banks, trading and industrial stocks fell. Insurances and transports were mixed. Heineken firmed 1.80 guilders ahead of Its annual report due
      293 words
    • Article
      Brussels
      160 7 BRUSSELS: Belgian share prices closed lower In moderate trading on Tuesday. Bourse sources said Sfalro, Vieille Montague, HainautSambre and CBR rose while Sofina, Aaturienne, UnionMiniere, Hoboken, ACEC, Wagona-Lita, UCB, Comet ra and Arbed all fell. In foreign stocks UK were unchanged or lower. French mixed, German. Dutch and US
      160 words
    • Article
      Frankfurt
      321 7 FRANKFURT: Share prices generally lost up to three marks on Tuesday, despite a late rally in some sectors, with confusion on the foreign exchange market continuing to undermine investor confidence. Dealers said major banks were generally steady, although Deutsche shed two marks and in leading chemicals and electricals losses
      321 words
    • Article
      Milan
      160 7 MILAN: Stocks fell to 23-year lows In thin trading on Tuesday Influenced by continuing political and business uncertainties. Bourse sources said Liqui***, Anic and Montedison shares firmed slightly after recent losses, and AMicurazionj General! and both Pirelli* also firmed, against the general trend. But Flat, Snia Viacoaa, immobitiare and
      160 words
    • Article
      Paris
      336 7 PARIS: The market tended lower In the face of heavy selling pressure. Dealers said the market largely ignored positive factors such as the end of the electricity strike, the disagreements between Left-wing parties and the fall in French November unemployment. Uaiaor fell to Its low limit, while Creuaot-Loire, Saint-Louis
      336 words
    • Article
      Zurich
      265 7 ZURICH: The market was narrowly mixed In quiet trading on Tuesday with losses slightly outnumbering gains In industrials. Dealers said Insurances gained while banks edged lower. In flnanclals, Elektrowatt, For bo "B" and Landi* registered drifted lower on some selling pressure. In the foreign sector, dollar stocks eased. Dutch
      265 words
    • Article
      Jo'burg
      398 7 JOHANNESBURG: Oold shares finished above the day's lows on UK interest on Tuesday, which stemmed from slightly hither bullion Indication. Dealers said heavyweight* finished up to 120 cents lower, while lighter Issues shed up to 25 cents. Mining flnanclals were mixed In thin turnover. Elsewhere. Ds Dim gained two
      398 words
    • Article
      Toronto
      348 7 TORONTO: Share prices closed higher in active trading on Tuesday with the Composite Index up four points and advances leading declines 234 to 220. Barfcer-EUis A dropped three to 27 as 91,700 shares were tendered under the company's offer to buy 93,000 of Its shares at Cs27 a share.
      348 words
    • Article
      New York
      1038 7 NEW YORK: Stocks were slightly lower all session in moderate trading on Tuesday. Analysts said investors ar< worried about the declining dollar and the slufglsti economy. November retail sale: figures released on Monday wen also mildly disappointing, on< analyst said. In addition, another analyst said lack of progress
      1,038 words
    • Article
      Indices
      63 7 financial times INDUSTRIALS Tuesday 476.9 Monday 464 5 Week Ago 462.0 DOW JONES AVERAGE INDUSTRIALS Tuesday 815.23 Monday 815.75 Week Ago 806.91 LONDON DOLLAR PREMIUM Tuesday 93* to 93*. Monday 93H to 93% H.K. HANG SENG Tuesday 418.21 Monday 417.77 Week Ago 421.85 SYDNEY INDUSTRIALS Tuesday 393.45 Monday 395.05
      63 words
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      Page 7 Advertisements Column 1
      379 7 SINGAPORE Tanglin Circus, S'pore 10. Tel: *****1 Brasserie La Rotonde Speciality de Cafe Exjject the unexpected! Daily specials that are as fresh as a new day Today's special could be meat. Or seafood Even hors d'oeuvres. But whatever it is, It's fresh. And prepared as only our chefs know how.
      379 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      427 8 OPENING quotations on the Singapore rubber market yesterday, were marked up 1.25 cents following higher London advices, and then rose a further half cent on shortcovering interest, dealers said. Values, however, slipped back fractionally towards the morning close on profittaking, they said. Volume was small.
      427 words
    • Article
      Produce exchange
      464 8 TRADING In coconut oil and copra Improved in an otherwise quiet and steady Singapore produce market, yesterday. With the demand for coconut oil on the strong side, the prices of all grades of the commodity were quoted at one of its highest levels for a long time. Top
      464 words
    • Article
      Sugar
      213 8 LONDON, Wed. Terminal sugar opened CI. 10 to 10.35 per tonne lower, but steadied slightly in thin trading. Dealers said sentiment was influenced by strength of sterling and chart factors. The penetration of near May at Cl3O per tonne brought out fresh chart selling. Market sources said today's Sudanese
      213 words
    • Article
      Rice
      106 8 HONGKONG. Wed. The market was quiet with prices up to 80 cents lower, dealers said. Total turnover was 432 tons comprising Thais 162. Kwangtungs 200 and Australias 70. The only arrival was 400 tons from Kwangtung. (Prices in HK dollars per picul. ex-godown) Thai White: 100 pc*. old crop
      106 words
    • Article
      Palm oil
      70 8 IM F, Rotterdam. US dollars per ton LONDON: Tuesday Previoui Malaysian 5% ffa bulk Feb 505 sir 512 sir Sumatra 5% ffa Dec 540 sir 545 sir Jan 520 sir 535 sir Feb 505/507'i pd 522'> sir March 505/500 pd 515 sir April 487' */490 pd 487 1
      70 words
    • Article
      Coffee
      319 8 LONDON. Wed. Coffee futures opened C 7 lower to 15 higher on yesterday's close. Volume was 170 lots and the official tone "easier". The market eased back to below last night's closing levels after commission house buying and dealer covering which led to initial gains of up to around
      319 words
    • Article
      Straits tin
      205 8 THE STRAITS tin price In Penang yesterday fell MS2O 80 P icu on an official offering down 32 tonnes to 258 tonnes. The market fell in response to lower London advices, but light buying was noted, dealers said. In LONDON yesterday tin showed gains of around £42 per
      205 words
    • Article
      Cocoa
      317 8 LONDON, Wed. Terminal cocoa opened £31 to £1.50 per tonne down with spot December showing the extreme loss. A 11,550 deposit rate increase in spot Dec holdings, stronger sterling and belated hedging against origin sales sent nearby terminal cocoa into a sizeable decline this morning. Spot Dec lost 191
      317 words
    • Article
      Hongkong comex
      211 8 HONGKONG. Wed. Sugar futures closed easier In dull and featureless trading on turnover of 12 lots compared with seven yesterday, dealers said. July and September were untraded while other Months were narrowly fluctuated with losses ranged from 0.05 to 0.22 US cents, they said. The Hongkong daily spot
      211 words
    • Article
      SPOT PRICES
      202 8 YARN and cotton In Hongkong dollars, spot ex-godown: Cotton Yarn: China Blue Phoenix 20 s 1 830 32's 2 065 40 s 2 140 (per bale of 400 lbs). Piece Good*: China Butterfly and Olobe brand unq. Dragon Head unq. Five Lambs unq. Flower and Butterfly unq. Flying
      202 words
    • Article
      Soybeans
      152 8 CHICAGO, Wed. Soybean futures yesterday closed at the top of a narrow trading range, finishing 53/4 to 3-1/2 cents a bushel above Tuesday's close. Commercial selling helped limit the early gains, and prices fluctuated to either side of the previous close In light dealings before advancing on additional late
      152 words
    • Article
      Wheat
      79 8 CHICAGO, Wed. Wheat futures yesterday finished the session three to 3 Vi cents a bushel higher, and at the top of the trading range. Early firmness in other pits and the appearance of commercial and exporter buying here and at Kansas City, generated short- covering and speculative buying. Small
      79 words
    • Article
      Closing prices
      29 8 Rubber: Dec 14 Singapore: January 198.25 cents (up 1.00 cent) Malaysia: 198.75 cents (up 0.74 cent) Tins: $1,780 (down $20) Official offering: 258 tonnes (down 32 tonnes)
      29 words
    • Article
      RAS PRICES
      358 8 Prices in cents per kilo yesterday Noon (per kilo) Close (per kilo) Int I R.S.S. prompt f o b Int 1 R S.S Jan 1978 Int 1 R.S.S. Feb 1978 Int. 2 R.S.S UK/Cont Int 3R S.S UK/font Int 4R S.S UK/Cont. Int. 5 R.S.S UK/Cont. Buyers 197.75
      358 words
    • Article
      SSR AND SMR
      110 8 NOON SSR and SMR prices yesterday: January February RAS (Current Mth) (Forward Mth) Buyers Sellers Buyer* Sellers (cents per k*t (cents per kit) SSR 20 (1-ton pallet) 193 50 195 50N 194 50 196 SON SSR 50 (1-ton pallet) 191.50 193 50N 192 50 194 50N MRKLB
      110 words
    • Article
      Copper
      320 8 LONDON, Wed. Copper wlrebars finished the morning with gains of mostly £5.50 per tonne. Values sagged on the premarket reflecting the strength of sterling against the US dollar, but subsequent covering against some West German physical business and commission house buying gave the market a firmer tone in the
      320 words
    • Article
      Silver
      178 8 LONDON, Wed. Silver closed 1.5 to 1.7 pence per troy ounce higher. Dealers said the very steady tone reflected the overnight rally at New York and the strength In gold this morning. Actual business, however, was small as carries formed the bulk of the turnover of 79 lots. On
      178 words
    • Article
      Gold
      380 8 GOLD upset short-sellers yesterday as it recovered strongly in the Singapore gold market. The kllobar opened at SS 12.040 against Tuesday's closing of 5511,965. However, It dipped a tittle on some profit-taking to a low of SS 12,030 before surging up to close at 5512,110. Trading was thin, and
      380 words
    • Article
      Zinc
      60 8 LONDON, Wed. Zinc rose by mostly £1.75 per tonne. The firmer tone in copper prompted some covering and fresh chart buying in this metal with Three Months trading up to t'3ol in the face of modest hedge selling. Sales of 3,950 tonnes were mainly carries. On Tuesday, zinc eased
      60 words
    • Article
      Lead
      54 8 LONDON, Wed. Lead eased by C 0.75 for cash and CI for Three Months. Sales were brisk at 4.825 tonnes. On Tuesday lead fell by C 1.50 for cash and C 0.50 for Three Months. Values softened during the afternoon under long liquidation although some fresh buying supported the
      54 words
    • MONEY AND EXCHANGES
      • Article
        Singapore market
        471 8 THE US dollar fell against all currencies on Singapore's foreign exchange market yesterday, and hit its historical low against the German mark just before London opened in the afternoon. Opening at DM2.1450/60, the dollar quickly declined to 2.1250/90 Just before lunch, a 200 point drop, and recovered a
        471 words
      • Article
        Minimum lending rates
        43 8 ACBC- Cl. Algemene Bank 1 Citibank 7 Bangkok Bank HSBC 7 7 Bank of China Bank of Tokyo Malayan Banking 7 Bank Negara Indonesia OCBC OL'B •H 7 Chartered Bank L'CB 7 Chate Manhattan DBS 1 L'MBC COB 7 7
        43 words
      • Article
        Asian $ rates
        161 8 Asian rates ASIAN currency deposit interbank rates as at close on Dec 14 7 days 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths I S Dollar* (Spot) Offer Bid ..75/8 71/2 611/16 69/16 ..7 67/8 .7 1/8 7 .7 9/16 7 7/16 7 9/16 7 7/16
        161 words
      • Article
        Discount
        48 8 RANGE of prices offered by discount houses on Dec 14 Overnl«ht 'iH to 3*% Call deposit 3'** to 3"«* ChMinc Buy Selliac 3-Month Treasury- bills K S* 3-Month Bank bills 4* 3-Month CD 5 11/16 s 9/ie 6-Mon'h CD 5 15/18 S 13/16 Source: National Discount Co
        48 words
      • Article
        Euro $ rates
        150 8 Euro rates LONDON, Wed. Period Eurodollar deposit rates up to Six Months opened lower due to the Friday dealings technicality, dealers said. Shortdates were generally steady and overall trading was fairly light. Initial technical losses in periods ranged from 3/8 in One Month to 1/16 in Six Months, but dealers
        150 words
      • Article
        Treasury bills tender
        54 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender a total of Ssls million of 91-day Treasury *o be issued from Dec 19 to 22. and a total of Ssls million 182-day Treasury bills to be issued on Dec 19. Each tender must not
        54 words
      • Article
        London
        191 8 LONDON. Wed. The dollar fell to new lows against most leading currencies in nervous and, at times, active early trading here as generalised selling of the US unit continued. dealers said. The mark and Swiss franc gained further in early trading to reach new highs against the dollar as
        191 words
      • Article
        New York
        137 8 NEW YORK, Wed. The dollar yesterday closed lower against major currencies in thin, nervous trading, dealers said. The Swiss franc finished at 47.62/64 after rising to 47.68/70 at one point. The franc opened at 47.41/44, sharply higher than Its overnight level, and continued to climb as the 2.10
        137 words
      • Article
        Tokyo
        119 8 TOKYO, Wed. The dollar for overnight delivery closed slightly higher at 240.25 yen, after opening at 240.10, but was below the 240.90 at yesterday's close, dealers said. No Central Bank intervention was detected, they said. Trading was active with volume $308 million. The dollar for immediate delivery closed at
        119 words
      • Article
        Hongkong
        159 8 HONGKONG. Wed. The US dollar fell to 2.1300/50 marks from its New York mid-point equivalent close of 2.1473 in active, thin afternoon trading on selling by European and West Asian banks, dealers said. The US unit opened at 2.1450/60 marks and fluctuated narrowly in the 2.1425/60 range all morning
        159 words
      • Article
        Australia/NZ
        57 8 AUSTRALIA/NZ exchanges on Dec 13: AUBTRAUA US dollar 1 1360/1 1312 Sterling 0.0182/0 <110 Ninety-day air mall buying rates Sterling 0 6343 US dollar 1.1645 Ninety-day forward buying rate*: Sterling 0 8145 US dollar 1 1291 NEW ZEALAND Sterling 0 5480/0 MSO US dollar 1 0110/1.0010 Ninety-day forward rate*:
        57 words
      • Article
        Zurich
        63 8 ZURICH exchanges closing quotes on Dec 13: US 2 1000-1020 Stg 3 8668-8607 Can l 9100-01 n D Mk 97 79-88 D PI 90.29-38 F Er 43.71-75 B rr (Con) 6 20-3/4-21-1/2 D Kr 35 33-37 N Kr 40 05-09 S Kr 44 14-18 Lit 0 2398-2400 Au» *ch
        63 words
      • Article
        Frankfurt
        48 8 FRANKFURT exchanges opening quotes on Dec 14: US 2.1320/45 <2 1460/75 > Can 1 9430/60 Stg 3 935*43 D PI 92 02/12 8 Pr 102 12/22 Ut 2 432/44 2 F Pr 44 35/45 N Kr 40.97/41 07 B Pr (con) 6.M1/351 B Pr (fin) 6.JJ/M Yen O.MM/40
        48 words
      • Article
        Eurobonds
        328 8 Eurobond prices quoted on Dec 14: Strait IN* BM Offer Walter Kldde 8 s 85 Feme* 8 82 IU Overseas Finance 8 V. >7 New Brunswick 8 84 Selection Trust 84.89 Plat 8 82 Hydro Quebec 8 02 Flsons8*92 Telmex9H84 RHM9 92 TNT 9 82 Midland Bank 84k 92
        328 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      170 8 «aL.*r' MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken place in oil important sectors of the economies of countries in East and Southeast Asia. The Bulletin is
      170 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Contest to decide choice of landing system
      536 9 NYT NEW YORK, Wed. A flying contest to help settle an acrimonious BrltlshAmerlcan struggle over which advanced bad-weather-landing system should become the world standard for the next several decades got under way last Mondav at Kennedy International Airport. A research Boeing 737 airliner
      NYT  -  536 words
    • Article
      Lock icon New York poses problems for Airbus sales in America
      294 9 Reuter NEW YORK, Wed. The European A3OO Airbus today began regular flights in the US, but a question mark still hangs over its future In the lucrative American airline market. Eastern Airlines is using four of the wlde-bodled aircraft for a
      Reuter  -  294 words
    • Article
      Lock icon Jeep with all the extras
      82 9 AP. DETROIT, Wed. An "ultra-luxurious" Jeep with corduroy trim on its leather bucket seats will be introduced next month, American Motors Corp said yesterday. AMC, whose Jeep sales are buoyant compared to Its sagging automobile sales, said the new model will appeal to "affluent prospects
      AP.  -  82 words
    • Article, Illustration
      Iris joins Neptune fleet
      377 9 PROTECTIONISM has hit the volume of world seaborne cargo the increasing trend towards protectionism must be reversed therefore if a "rather explosive situation" is to be avoided In world trade. This point was emphasised by Mr Tan Teck Chwee, chairman of Jurong Shipyard Limited, at the
      377 words
    • Article
      Lock icon Findings out on Adrian Maersk grounding
      370 9 AP. COPENHAGEN, Wed. Official Danish investigations Into the grounding of the 25,000-ton container vessel Adrian Maersk off Hongkong last September have been concluded with a maritime court hearing during which the captain Indicated he may have mixed up two navigation lights. But the court
      AP.  -  370 words
    • Article
      Lock icon SWISS SECURITY TAX
      75 9 Reuter BERNE, Wed. Travellers at Swiss airports will have to pay a special tax to help meet the cost of antl-hljack security precautions, including searches of passengers and luggage, under a government decision published today. The tax, to be Introduced on April 1, will be decided after
      Reuter  -  75 words
    • Article, Illustration
      IN PORT
      405 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Belgorod Dnestrovsklly (Oriental Crown) 3/4 Eastern Mercury (3EIW) (1500 6/7 Kota Qembira (after Slbonga) 1/2 Nego Iron (0700 after Bunga Mas) IS Ocean Esperance (SMVK) 46 Scotland Maru (after Benledl) 45 Vega (0700 after King Dragon) 25/26 Vlshva Bhaktl (1500 must sail not
      405 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      655 9 ARRIVALS OWN Operator Numb Local m Time From CPA CXOOS 8IA/BA SQ300 MAS MH001 MAS MH682 SIA SQ101 MAS MH807 MAS MH621 RBA BI32S MAS MH671 OIA QA960 CPA CX710 SIA SQ103 SIA SQ209 OIA OA944 OIA OA906 MAS MH905 PAL PR501 RBA BI325 MAS MH«84 OIA
      655 words
    • Article
      FAR EAST FREIGHTS
      1054 9 MANY shippers have Improved their profitability because of the exi cellent freight rates they i have been able to negotiate f with ship owners (for com- petltlve reasons the exchange Is unable to publish these rates). In addition shippers are f receiving excellent services at economic rates
      1,054 words
    • Article
      Lock icon London freight market
      234 9 AP. LONDON, Wed. Time charter activity continued to attract attention yesterday supported by firmer rates for some loaders. A 27,305 dwt loader was taken for the trip to the Persian Gulf after Dec 26-31 delivery Antwerp at the rate of $4,500 per day whilst a 28,560 dwt
      AP.  -  234 words
    • Article
      Lock icon The end of an era
      224 9 AP. NEW YORK, Wed. An era in communications history ended yesterday when RCA knocked down the last of 12 giant radio transmitting antennas. A demolition expert toppled the steel tower by dy ana ml ting the moorings of guy wires that held the slender shaft
      AP.  -  224 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      86 9 International Bank of Singapore All Domestic and International Finance Fully authorised to conduct all types of banking including Foreign Exchange, Asian Currency Unit Deposits and Loans in convertible currencies and the issue of Singapore Dollar Negotiable Certificates of Deposit. v >JcTTi Podium 107.15t Floor, DBS Building Shenton Way, Singapore 1
      86 words
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  • Article, Illustration
    Lock icon Question over need for British oil policy
    901 10  -  By BRUCE ANDREWS FT. LONDON: Shocking though it may seem, the British government has no discernible long-term policy on offshore oil. North Sea oilfields are now supplying about half the country's oil needs. By 1980 It is virtually certain that Britain will be
    FT.  -  901 words
  • Article
    Lock icon Exploding the Japanese investment myths
    1495 10 Mr. Dennis Stevenson, chairman of Aycliffe and Peter Lee Development Corporations, played a major part in persuading NSK, the Japanese ballbearing company, to establish a plant at Peterlee, UK. Here he says that Britain should have jumped at Hitachi's now cancelled plan to make TV
    FT.  -  1,495 words
  • Article, Illustration
    ASEAN WOMEN STILL GET THE WRONG END OF THE STICK
    1649 10  -  By S. UMADEVI WOMAN constitute more than one-third of the world's economically active population. Forty-six per cent of women between 15 and 64 years of age are In the labour force, yet as the Malaysian Welfare Services Minister. Dato Hajjah
    1,649 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      490 10 DEBT TRAP '•v *rydWWJjr Business Manag»neot in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most power- I ful supra-national government in the world today. J This book is about the efforts of poor nations to I gain some control over their own economies and the
      490 words
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  • Article
    Lock icon Massive Asian food shortfall on the horizon
    623 11 AFP, UPI WASHINGTON, Wed. The developing countries' food shortage may Increase three fold to between 120 and 140 million tonnes by 1990. The International Food Pohcy Research Institute, a private US organisation, said in a report published yesterday that the poorest states were
    AFP,; UPI  -  623 words
  • Article
    Lock icon Indian export target revised downwards
    366 11 AFP. NEW DELHI, Wed. India has scaled down its export target for the current financial year ending In March. Commerce Minister Mohan Dharla yesterday told the Upper House that the target had been brought down from 7.85 billion rupees (552.09 billion) to 6.67 billion rupees.
    AFP.  -  366 words
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    Lock icon Japanese shipping line in troubled waters
    487 11 UPI Reuter. TOKYO, Wed. Japan Line Co. Ltd., the world's leading tanker operator hard hit by the recession in the shipping industry, will ask for a one-year moratorium for its bank loan repayments. Disclosing this a company spokesman said Japan Line, with a capital
    UPI; Reuter.  -  487 words
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    Singapore lags in industrial training
    771 11  -  By TSANG SAU YIN SINQAPORE has still a long way to go in the field of Industrial training. Mr. Chal Chong Yli, Senior Minister of State for Education, said this at a conference on technical and vocational education yesterday. "It Is hoped that international development
    771 words
  • Article
    Awareness of needs key to motivation
    667 11  -  By SALMA KHALIK MANAGERS have to know their subordinates' hierarchy of needs to find out what motivates them, according to Mr. Harry Lee. a management consultant with the National Productivity Board. He was speaking on Managing People yesterday at the board's two-week seminar on
    667 words
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    Lock icon Papua now turns to world capital markets
    285 11 Reuter. HONGKONG, Wed. Papua New Guinea, with a population of less than three million has joined the ranks of international borrowers to further its ambitious economic plans. Prime Minister Michael Somare last week visited Japan and secured a concessional loan package, and then
    Reuter.  -  285 words
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    Lock icon CHINA LIGHT TO BUILD $4.28 POWER STATION IN HK
    947 11 AFP Reuter HONGKONG, Wed. Shareholders have approved the decision of China Light and Power Co. to build a new coal and oil power station at a cost of HKSB.4OO million (554.2 billion). Approval was given at the annual general meeting of
    AFP; Reuter  -  947 words
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    Lock icon Jakarta reserves push towards US$3b
    215 11 Reuter JAKARTA, Wed. Indonesia's frost foreign reserves, which sank to US$443 million (551.04 billion) in 1975 durina the Pertamina crisis, have made a dramatic recovery to almost $2.9 billion, wiring •ources said today. Good world markets and record oil production were the two important reasons
    Reuter  -  215 words
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    Getting to know trends in the Philippines
    135 11 THE INSTITUTE of Southeast Asian Studies will hold a day-long seminar on Trends In the Philippines at the Regional English Language Centre on Jan 7. This will be the ninth in the institute's series of Trends in South-east Asia seminars. The first seminar
    135 words
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    Dr. Toh to open faculty
    123 11 THE MINISTER for Health, Dr. Toh Chin Chye, will be the guest of honour at the official opening of the University of Singapore's Faculty of Engineering on Jan 6. In conjunction with the opening, the faculty will be holding an open day on Jan 6
    123 words
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    Eight-month Malaysian trade surplus tops $2.8b
    567 11 KUALA LUMPUR, Wed. Malaysia's trade surplus for the first eight months this year has risen to M 52.83 billion from 32.19 billion In the same period of 1978. Preliminary figures from the Department of Statistics indicate that exports rose 19.6 per cent to $10
    567 words
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    Official opening
    56 11 FRISCO Grill will be officially opened by Tan Sri Runme Shaw on Dec 17. Jointly owned by an Indonesian and two local businessmen, the million dollar steak house opened for business four months ago. The American-Spanish decor was designed by KKS Consultants and Designers of Japan. The grill
    56 words
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      347 11 APPOINTMENTS Eastern Agencies Applications are invited from suitably qualified Singapore citizens to fill the following positions:SALES MANAGER DESIGNATE (LIQUOR DIVISION) The successful candidate will be required to take over the day to day management of a compact and highly successful division within a few months. He should have hod at
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    JAPANESE AGREE TO A TRADE DEFICIT
    523 12 WASHINGTON, Wed. Senior US officials said Japanese Minister for External Economic Affairs Nobuhlko Ushlba told the Carter Administration Japan Is prepared to accept a current account balance of payments deficit. They said at the end of < the second day of talks 1 between
    523 words
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    Majority are suitably employed
    319 12 UP TO 70 per cent of Singapore workers who had completed Industrial Training Board courses are employed In relevant Industries. Against the recovery of the manufacturing sector last year, the ITB moved into a phase of Internal consolidation and re-organisation to equip itself for the greater
    319 words
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    Noone re-elected KLSE chairman
    165 12 KUALA LUMPUR, Wed. Tengku Noone Aziz bin Tengku Mahmood has been re-elected chairman of the Kuala Lumpur Stock Exchange at the annual meeting In Kuala Lumpur Jrhlle Mr. Lee Tak Suan takes over as deputy chairman from Mr. Tan Kay Thlam. The other candidate for the
    165 words
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    Lock icon Talks begin today on lifting of Concorde ban
    399 12 AFP, Reuter KUALA LUMPUR, Wed. Britain's High Commissioner will meet the Malaysian Communications Minister here tomorrow morning to seek the lifting of a ban on Concorde overflights which could halt the new supersonic service to the Far East operated Jointly by British
    AFP,; Reuter  -  399 words
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    Lock icon Share trading plea
    125 12 Reuter ATLANTA, Wed. The chairman of the National Bank of Georgia, formerly headed by Bert Lance, yesterday asked the Comptroller of the currency to allow trading in its common stock to resume today. Trading in the bank's shares was suspended about 10 days ago to allow Investors
    Reuter  -  125 words
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    LONDON STOCKS
    758 12 LONDON. Wed. Trading was quiet at the close as the market waited for the November trade figures. Equities lost ground during the morning In light but persistent selling provoked by some disappointing company results, and showed little change subsequently. At 3.00 pm the Financial Times Index was down
    758 words
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    Be alert and trim in face of hardships says PM
    325 12 SINGAPORE and Hongkong can reduce the hardships imposed by protectionist measures if they stay trim, alert and adaptable The Prime Minister, Mr. Lee Kuan Yew, said last night that the two citiea can hardly expect to influence the big political
    325 words
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    Lock icon World issues on Lee's agenda
    167 12 Reuter BANGKOK, Wed. Regional and world political issues are expected to head the agenda In talks that Mr. Lee Kuan Yew will hold here this week with Thailand's new government. The Prime Minister arrives here tomorrow for a three-day visit and will be the first
    Reuter  -  167 words
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    MK switches to lower end of market
    606 12  -  By RONNIE LIM THE Singapore subsidiary of MK Electric Is moving down market In a bid to Increase sales and improve profit margins after only seven months of operations. It has been Incurring losses since it began operations, partly because of start-up costs.
    606 words
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    Lock icon Accord on extending fibre agreement
    591 12 UPI, AFP GENEVA, Wed. The world's leading exporters and Importers today agreed to renew for four years an International pact regulating world textile trade, and to allow the European Economic Community (EEC) to bend the rules to cut back a flow of cheap Imports. The
    UPI,; AFP  -  591 words
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    Lock icon Progress on rubber
    160 12 AFP. GENEVA, Wed. Some progress appeared to have been made yesterday by an international task force for the rubber Industry after a week of talks sponsored by the United Nations Conference on Trade and Development (Unctad). The task force recommended that when the third preparatory meeting on
    AFP.  -  160 words
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