The Business Times, 24 January 1978
1978-01-24
1
12
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The Business Times
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Title Section11 1978-01-24 1 BUSINESS TIMES M.C.(P) No. 218/1/78 TUESDAY, JANUARY 24, 1»78 50 CENTS11 words
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BRIEFLY...
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Article70 1978-01-24 1 AP JAKARTA, Mon. The Indonesian government has dismissed Lt. Oen. Hartono Dharsono, secretary-general of Asean, because of his alleged opposition to President Suharto's policy, Informed military sources said today. Oen. Dharsono. one of Mr. Suharto's close allies In the period before the downfall of former President Sukarno,, wasAP - 70 words
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Article81 1978-01-24 1 AP BRUSSELS, Mon. The European Economic Community has decided to slap Immediate antidumping duties on six steel products imported from seven countries, including Japan. The products and countries Involved are: galvanised sheets (from Spain and Poland), hbt rolled sheets other than electrical of 2mm or more (Bulgaria, JapanAP - 81 words
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Article53 1978-01-24 1 Reuter GENEVA, Mon. The United States today Joined Japan In urging that long-running negotiations to free the flow of world trade be completed by the middle of this year. The US also offered major non-communist trading nations an average 40 per cent cut In Import tariffs andReuter - 53 words
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Article48 1978-01-24 1 Reuter BANGKOK, Mon. The Thai Board of Investment has approved two projects for manufacturing dlesel engines submitted by Thai subsidiaries of Japanese and a Korean company. The Japanese will manufacture engines between 60 and 160 horsepower while the Koreans between 5 and 36 hp. Reuter.Reuter - 48 words
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Article49 1978-01-24 1 FAS Orient Is to expand Its operations In Singapore by setting up a 912 million plant which will be ready by August. It will manufacture high technology components for helicopters and build more orthe latter to help reduce the backlog of orders at Its US parent.49 words
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Article73 1978-01-24 1 AFP MANILA, Mon. Philippine experts have urgea Asean to tap merchant banks as possible sources of financing In view of Its massive capital needs for development. The Philippine committee on economic affairs of the Asean Chamber of Commerce and Industry (Asean-CCI) said In a paper published hereAFP - 73 words
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Article62 1978-01-24 1 Reuter KUALA LUMPUR, Mon. Thai Prime Minister General Krlangsak Chamanand will begin his scheduled tour of Asean countries with a threeday visit to Indonesia starting Feb 17. A Thai embassy spokesman here gave the following tentative dates: Indonesia from Feb 17 to 19, the Philippines Feb 20 toReuter - 62 words
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Article56 1978-01-24 1 UPI NEW YORK, Mon. Stocks struggled for direction early today as Investors pondered President Carter's budget, economic programme and tax proposals. Trading was sluggish. The Dow Jones Industrial average was off 2.34 KU to 774.00 shortly before lia.m. of the 1,294 is crossing the tape, 471 declined, 384UPI - 56 words
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Chief Price Changes
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Article124 1978-01-24 1 Rites Most active Faber Merlin 90 V, +28* Faber Merlin 1.528.000 Dutch Baby 140 12 Slme Darby 205.000 SEAL 125 11 Olympla 137,000 Carlsberf 400 10 Sigma Metal 99.000 M Flour CAC 326 274 +8 +8 Total Turnover: 3.49 M Tu Cbong 257 +7 Total Value: S124 words
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Article, Illustration172 1978-01-24 1 Rises Most active Cait le field 8.00 +.40 F&t>er Merlin 823.000 Sovran 1.22 .10 Supreme Corp. 574,000 8. Lumber 1.28 .10 F. Cables 289.000 F. Merlin 0.02 +.00 A.P.I. 182.000 MBS 3.00 .08 Total Turnover: 4.18 M SI me Darby Mega 3.52 0.08 .08 .07 Total Value:172 words
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Article923 1978-01-24 1 JOHN TAN - OCBC LEADS THE PACK By JOHN TAN SINGAPORE banks have a very substantial stake In the finances of Malaysia. Together with subsidiaries, they control over 14 per cent of total commercial banking assets In Malaysia and nearly 12 per cent of all finance company923 words
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Article539 1978-01-24 1 MANO SABNANI - h MANO SABNANI AS foreshadowed by the recent Increase In Its authorised capital. Shangri-La Hotel has announced a rights issue of one-for-four at $2.40 per share. The offer's intrinsic attraction is that the new shares will rank for the first and final dividend of 15 per539 words
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236 1978-01-24 1 SIME Darby Holdings is back on the acquisition trail, this time to widen its sphere of activity In the engineering field. Sime said yesterday that its 73-per-cent owned subeidisj-y, China Engineers Holding* has acquired a 95 per cent stake in two Hongkong engineering companies236 words
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Article, Illustration487 1978-01-24 1 COLIN CHEK - ®y COLIN CHEK SINGAPORE Is developing gradually into a significant and formidable capital centre of international standing, and increasingly It will find itself acting as an Intermediary between lenders in the West and West Asia, and Far Eastern borrowers. This was one487 words
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Page 1 Advertisements
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Advertisement29 1978-01-24 1 p MAF A. A lending hand when l 2 Wayfoong Mortgage JvU and Finance (Singapore) Limited ll llK)Sl Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Trt: *****7.29 words
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Advertisement51 1978-01-24 1 CITROEN CX 2400 PALLAS has proved to be such a cartough efficient elegant r Jf. VB l Ifli tPij HtnRV nnc acEnciES pie ltd BRUNtI AGtNT RFI lANCE Ci iS TRi 8 1 T i 144 8 JALAN CHtV ALII R BANDAR Sfc R BL iAA A BRUNE' TEL *****51 words
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Advertisement14 1978-01-24 1 rwsire ANOTHER itff rfrak BLACK |«U ilidrbi. a m m mrt trial 12 Q14 words
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Advertisement376 1978-01-24 1 APS ELECTRONICS (PRIVATE) LTD WtOAPOM T« 5560*4 fS URM) APS ELECTRONICS (M) SON BHO KUALA LUMPUR T« 03-*****0 MAGME THINKING THAT THE EARTH IS FLAt AND TELLS YOU IPS ROUND. v\\ BEOGRAM4OO2 In international terms, Bang Olufsen of Denmark is not one of the big manufacturers. That is why, if376 words
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OVERSEAS
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Article224 1978-01-24 2 COURSES AND TALKS DATES TITLE LOCATION ORGANISER 9-30 Industrial Application YMCA NPB of Operational Palmer Road Amplifiers 9- S.D. Module m— Hotel Royal NPB Feb 2 Elements of Ramada Industrial Engineering 9-30 Energy Management YMCA NPB Module 1 Palmer Road 10-31 Industrial Health SIM Conference SIM and Safety224 words
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Article, Illustration316 1978-01-24 2 AFP AN OFFICIAL Malaysian delegation, headed by Deputy Trade and Industry Minuter, Lew Sip Hon left for Hongkong yesterday on a study tour of various commodity trading establishments there. The team will hold talks with the Commissioner for Commodities Trading, the Secretary for Economic Services andAFP - 316 words
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Article161 1978-01-24 2 RICE production In Perak will Increase substantially, possibly at the rate of five bumper harvests every two years, under an Irrigation improvement scheme to be introduced shortly. Plans for this have been devised by the state government which Is now negotiating with the World Bank161 words
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Article, Illustration586 1978-01-24 2 JOHN TAN - SITE WORK COMPLETED ■y JOHN TAN SINOAPORE'B petrochemical complex is well on 1U way to realisation. Site preparation work has been completed and field engineering work Is expected to start in the middle of this year. The entire complex is expected to be completed586 words
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Article, Illustration126 1978-01-24 2 SINGAPORE'S newly formed Annual Assay Commission conducted Its Inaugural annual test and examination of the coins by the Singapore Mint yesterday. The text is to determine whether the coins are In accordance with specifications and standards laid down by law. The commission will be126 words
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Article204 1978-01-24 2 RAHIM KASSIM - •y RAHIM KASSIM VISITING the Soviet Union may not be every tourist's idea of a perfect vacation, but according to the Soviet Novosti Press, the number of foreign visitors to the USSR has been increasing steadily. And Singapore, among other destinations, can expect more Soviet visitors too.204 words
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122 1978-01-24 2 FORMS to claim Income tax deduction for maintenance of private garden! during 1977 may now be obtained at post office* or at the Income Tax Department. A taxpayer may claim up to $300 for maintaining a private garden at his residence provided the garden122 words
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Article23 1978-01-24 2 CHINA and Bangladesh have agreed to increase their trade under a new commodity exchange protocol to be signed here next Tuesday.23 words
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300 1978-01-24 2 TWO FRENCH industrialists accompanying Prime Minister Raymond Barre on his current five-day visit to China say the Chinese are showing Intense interest in new technological developments, although no firm commitments are expected from the trip. "They are very curious about what's going on in new300 words
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139 1978-01-24 2 AFP MR. WALTER Rapp, the retiring regional manager (South-east Asia) of Daimler-Benz's EX6A Export group in Stuttgart, arrived in Singapore yesterday for a farewell visit. Mr. Rapp has been Involved with Daimler-Benz/ Cycle and Carriage operations in this region for over 25 years, sinceAFP - 139 words
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367 1978-01-24 3 Reuter the arbitrage between the higher New York and lover London copper market* has widened in recent days, pertly because of fears of an increased US tariff on Imported material, top traders here said. Last week, the arbitrage at one point was asReuter - 367 words
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Article86 1978-01-24 3 Reuter US RETAIL sales fell 3.4 per cent in the week ended Jan 14 to a seasonally adjusted U5513.84 billion (SS32 billion) from 814.33 billion on the previous week, but were 9 per cent ahead of the level a jrear ago. Durable sales dropped to $4.47 billionReuter - 86 words
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1041 1978-01-24 3 NYT THE UNITED States Treasury Department, after six years of inactivity, has begun to enforce the Bank Secrecy Act, hailed by many at the time of Its enactment In 1970 as a crucial weapon In the fight against white-collar crime. The government, underNYT - 1,041 words
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Article, Illustration520 1978-01-24 3 WESTERN Europe still needs its millions of migrant workers despite recession, unemployment and stricken Industries. In the January Issue of the International Labour Organisation's monthly magazine, the 134-state United Nations agency said that for many people "Western Europe's migrants have overstayed their welcome." But ILO studies520 words
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Article311 1978-01-24 3 Reuter FUTURE demand for US soybeans and products Is expected to rise In Western and Eastern European nations, North European director for the American Soybean Association, Karl Fangauf, told the Land of Lincoln Soybean Association convention In Champaign, Illinois. US soybean oil and meal will improve itsReuter - 311 words
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Article1559 1978-01-24 3 Reuter US President Carter yesterday proposed the biggest Federal budget In American history that will spend U*****.2 billion (8*1,170 billion) in fiscal 1979. In his first budget, sent to Congress In the morning, his proposed government spending In the financial year beginning Oct 1, Is anReuter - 1,559 words
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1058 1978-01-24 3 Reuter NYT MONEY market analysts and economists see nothing significant for the credit markets in President Carter's tax reform and antl-lnflation messages and they expect that Immediate reaction will be limited. According to the economist*, details of the messages conform closely to what hadReuter; NYT - 1,058 words
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WORLD IN BRIEF
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Article508 1978-01-24 3 Agencies BANK of Japan sources say tt Is likely international gold transactions wll be freed with the ending of the 1978 Gold Agreement concluded at the International Monetary Fund Interim committee meeting in Kingston, Jamaica. The arrangement limits gold transactions by the monetary authorities of IMFAgencies - 508 words
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Page 2 Advertisements
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Advertisement329 1978-01-24 2 Sow boat from IfiRF iiri fISSWP r i > CHINA TRADE QUARTERLY Far East Publications RT 1913, Hanglung Centre, Paterson Street, Causeway Bay, Hong Kong. Please enter my full subscription to China Trade Quarterly. I am enclosing a cheque/money order for US$2OO.OO or equivalent in other currencies. I 1 Please329 words
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Page 2 Miscellaneous
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Miscellaneous618 1978-01-24 2 THE TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Walk the street with a nautical cam 6) 7 Did kitchen work when stranded (I, 2) Vote against the work situation (6) It Points to the man In the chair (9) U Where soldiers go for some tea that's Strang (4) 14 Read618 words
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Page 3 Advertisements
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Advertisement13 1978-01-24 3 r v. m REDIFFUSION 4 1 2.000 42'0 Vourig Marri«tl 15 30 v«ars13 words
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Advertisement131 1978-01-24 3 "MY NEW BIFOCALS HAVE NO LINES. AND WHO NEEDS MORE LINES?" > 1 •4 y-.*. BIFOCALS WITHOUT LINES. Those bifocal lines that added another five years to your age have disappeared. AOLITE Ciltravue lenses have no lines; you can see clearly close up, far off and everywhere in between. There's131 words
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RAW MATERIALS
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Article718 1978-01-24 4 OPENING prlcea in the Singapore rubber market yesterday were fractionally lower and ruled very quiet. The market later turned slightly firmer on reserve of sellers and covering of nearby*. Volume was small, dealers said. The market cloeed slight- firmer with February RBB le buyers quoted718 words
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Article32 1978-01-24 4 Rubber: Jan a: Sinn pore: February 200.2S till (up I .SO ceata) Malaysia: February SSS.M cents (up I.M cents) Tin: ii,ere (down $10.21) Official offering: ISO tonnes (up W tonnes)32 words
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Article279 1978-01-24 4 PRICES held steady at the Singapore produce market yesterday, but trading was negligible. This was primarily due to the distinct lack of interest from the major consumer countries of west Europe. Even nearby countries, to whom local dealers have been selling small quantities on consumer accounts, were shying279 words
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Article287 1978-01-24 4 SUOAR futures In HONOKONO yesterday closed steady in quiet and featureless trading, on lack of any fresh fundamental news. Prices fluctuated narrowly with March falling USO.OI cents, while May rose 0.01 cents. October was unchanged from Friday's close. Dealers said turnover fell to nine lots against 11 on287 words
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Article68 1978-01-24 4 TERMINAL sugar In LONDON yesterday, closed a quiet morning at or Just below the session's highs, £0.30 up from Friday or £0.25 down. Turnover totalled 827 lots, Including 103 call options. The market opened up to £1 lower on tone, but later rallied on Jobber and outsider short-covering in68 words
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Article150 1978-01-24 4 THE kllobar In Singapore yesterday opened at 8113,198 and elosed at 8913,224. In the London market, the metal opened at U*****.60/90 and closed stronger at U*****.06/35. The London morning Ox was U*****.95, up 91.90 from the previous fix. Source: Stnxvia* Retail prices per tael quoted by the Singapore Chinese150 words
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Article96 1978-01-24 4 THE STRAITS tin price In Penang yesterday dropped M 910.25 to 91,670 per picul on an official offering up 65 tonnes to 300 tonnes. The market was marked lower mainly due to a larger contribution of tin metal from miners in view of the weekend and the approaching96 words
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Article196 1978-01-24 4 BANGKOK rice prices were quoted as follows yesterday: (US dollars per tonne fot> bull Bangkok) WMle Rice: 100 pet let elm 370. 100 R2nd clan 355, 100 pel 3rd clmu 330. ct 341. It act 323. 15 pet 320. SO pet 311. 23 pet 315. 35 pet unq Brafcm:196 words
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Article66 1978-01-24 4 ROBUSTA future* tn LONDON opened £4 higher to £7 lower yesterday, compared with Friday's close. Turnover was 50 lots and the official tone "quiet." Light Inter-deallng trading was confined to near months during the opening session where values were unchanged to £4 higher. Untraded distant months tended lower. There66 words
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Article62 1978-01-24 4 TERMINAL In LONDON finished the morning £16.50 down from Friday to unchanged yesterday. Turnover totalled 2,3«6 lots, Including five put options and 702 lots self traded. The market steadied mld-mornlng on mixed short-covering support after early losses of up to £32, but finally eased on general bear sentiment. Sentiment62 words
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Article65 1978-01-24 4 COPPER wlrebars In LONDON finished the morning showing losses of mostly £8 per tonne yesterday. values declined under liquidation, chart selling and stoploss operations prompted by the larger than expected rise In warehouse stocks to a new record total of 645,300 tonnes. Three months traded down to £652 per65 words
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Article41 1978-01-24 4 SILVER in LONDON registered gains of 0.9 to 1.1 pence per troy ounce yestermovement reflected the strength In gold, dealers said. Trading Interests, however, remained at a low ebb, with carries accounting for about half the turnover of 18 lots.41 words
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Article44 1978-01-24 4 LEAD fen by £11.75 for cash and £10.29 for three months in LONDON yesterday. Further commission house liquidation and stoploss selling were sparked off by the decline In copper and three months traded down to £325 in the face of sporadic trade buying.44 words
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Article43 1978-01-24 4 ZINC dosed with lossss of £8.25 per tonne for cash and £9 for three months in LONDON raster day. This metal moved In sympathy with the general trend as liquidation and stoploss selling pushed three months to £257.50 during late kerb dealings.43 words
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1229 1978-01-24 4 AFP THERE WAS a marked slowdown in trading among Industrial commodities in LONDON last week ahead of President Carter's State of the Union message, although subsequently a more relaxed attitude developed. The quieter conditions on the fortlgn exchange market offered some respite although sterling's weakerAFP - 1,229 words
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MONEY AND ECHANGES
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Article414 1978-01-24 4 THE FOREIGN exchange market yesterday saw very thin trading, with rates generally staying unchanged from opening Opening against the Japanese yen at 241.58/60. the dollar stuck to that level through the morning and inched to 241.60/70 when London opened. Against the mark It opened at 2.1155/7$ and moved up414 words
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Article44 1978-01-24 4 A CDC T AlfMMwBuk 7 BufUluk 7 CWbuk 7H B—k rf AaiHn 7 BftakrfCklaa 7 lUak t! T«ky« 7 MNM I.I...JY 7 M*Ujraa Buldac *7 NWM 7 0C8C «H OUB 7 UCB 7M CWm| m ttf 7 UMBC 7 UOB 744 words
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Article119 1978-01-24 4 Asian rates ASIAN cuitmk* dnoatt interbank run at at do** on Jan 1 IXDi !S" 5 1 BUI 7 1 VI 11/ 1 ntlM 7 11 i*ru Tt/1« bum T 11/11 711/1* U BUM 1 V* IV* 1 1 a. 1 ilrt tmm. mm) IBU) 1 BUM v\* l/l l119 words
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Article35 1978-01-24 4 RAMOS of arte* oftarad by dtaeovnt hOUM OO #ID 23 Sn r 2p!Stt»& ,wl (-Month Trtaauiy Mill 11/4 Si/1 t-Uoatti Rank Mil* 47/1 41/4 J-Moni »Mon mod Ch CD svu tin* 511/14 Source:35 words
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Article163 1978-01-24 4 THE U8 dollar opened mixed In LONDON In mainly quiet dealings yesterday, with occasional bursts of action as operators maintained balanced dollar positions. Little reaction to the Carter package of U8825 billion in tax cuts Is being seen because participants fear central bank intervention. Sterling opened firmer against the163 words
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Article149 1978-01-24 4 THE US dollar for overnight delivery in TOKYO yesterday closed higher at 241.70 yen, up from 241.73 at the opening and Friday's close. Trading was quiet with volume $169 million. No central bank Intervention was detected, dealers said. The finance ministry's announcement of December trade and payments surpluses In149 words
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Article144 1978-01-24 4 THE U8 dollar In HONGKONG yesterday closed slightly below Its New York levels last Friday, but unchanged from local opening rates in slow trading. It was quoted at 2.1165/75 marks against New York's 2.1195/1215. and at 241.40/60 yen compared with 241.55/80 and Tokyo's 241.73. Sterling firmed to $1.93/70/80 from144 words
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Article78 1978-01-24 4 Euro rates EURODOLLAR deposit rates In LONDON opened mostly steady In quiet early dealings yesterdaly, with the usual slow Monday start affecting business. In periods, one month was adjusted lower by around 7/16 due to the loss of a Friday end of period while other fixed dates opened Uttle changed78 words
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Article23 1978-01-24 4 y*'/' m wtm Hkr 41 12/12 Kr eon 'ff bt T 'V j Aut Ktl »tt/« Pt>rt 77 T0/7I .JC Spain 1MS0/4023 words
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Page 4 Advertisements
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Advertisement351 1978-01-24 4 FROM FEDERAL PUBLICATIONS !M BiA mk, r ->>\ m l m \\w\ nih i m U I m j II s V J V-\v A a step~by~step guide An easy to understand yet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations, could351 words
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TRANSPORT
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Article, Illustration575 1978-01-24 5 TERESA LIM - iy TERESA LIM SINGAPORE secured 1.73 per cent of the worldwide orders for ships in 1977, putting it a slight step ahead of Its Asian competitors such as Taiwan and the Philippines. According to the latest new shipbuilding statistics compiled by Falrplay International Records575 words
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Article, Illustration389 1978-01-24 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Dolj (0700) 23/24 Hoegh Orris tllOO after Tal Ping <i Diving Operations) 3/4 Jurata (1100 after Savannah Mara must sail not later than 0530/ 27th) 47 LI Ho (0700 after Jalnghu) 44 Loon Sheng (HOJW) (0700) 29/30 Lumut (after Rajah Brooke) 21 West389 words
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234 1978-01-24 5 AUSTRALIA is seeking to block the United States government's approval of a third commercial airline service across the Pacific to this country. Australian Transport Minuter Peter Nixon, now in London, is due In Washington later this week for talks with U8 officials about the234 words
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174 1978-01-24 5 GEMINI Friendship, a 27.327 dead weight tons bulk carrier which was built by Fujlnata Works of Mitsui Engineering and Shipbuilding, Japan was recently delivered to Its owner, Gemini Maritime Corporation of Liberia. It is the last of three ships ordered by the owner, and174 words
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Article, Illustration600 1978-01-24 5 NYT "I'M READY to take on El Al anytime; If they didn't St government subsidies, ey'd be selling shirts." Trie challenger is Munlr Abu Haldar, the Lebanese owner, president and chairman of Trans-Mediter-ranean Airlines, (TMA) which made money during the disastrous LebaneseNYT - 600 words
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Article98 1978-01-24 5 UPI NIPPON Kokan K.K., a leading steel mill, plans to cut by 10 per cent its workforce In the shipbuilding department by the end ol this year in view of the worldwide shipbuilding slump. The company's plan to cut by 1,000 Its total workforce ofUPI - 98 words
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Article152 1978-01-24 5 SANKO Asia Line (SAL)lsa subsidiary of Sanko Steamship of Tokyo It started Singapore In SAL maintains regular liner services from the main Japanese ports and Hongkong to Singapore and Port Kelang. Sailings to Penang are subject to cargo inducements. Geaeral ageats: C.P. Sharp. Itede: Japan/ Hongkong and152 words
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Article728 1978-01-24 5 ARRIVALS 0*mt« N«n ■bw IlM Fran CAL CI 331 0040 TPE/HKO/KUL CPA CX003 014S HKO TMA TL303B 0215 BEY/DXB BOM/KUL PAA PA005 0215 SFO/HKO MAS MH601 0715 KUL MA8 MH682 0610 KCH SLA SQ101 0615 KUL MAS MH021 0635 PEN MAS MH607 0645 KUL MAS MH671 0945728 words
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Article50 1978-01-24 5 THE Australia Northbound Shipping Conference said Its Australia to East Asia (Hongkong, Taiwan, Philippines) bunker surcharge will rise from 9.03 per cent to 9.87 per cent on Feb. 1. The Australia Japan/ Korea bunker surcharge will be cut from 5.47 to 5.41 per cent on the same date.50 words
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Article109 1978-01-24 5 BRITISH Airways is to open a new service between London and San Francisco on May 4. The service, to be operated by the airline's wldebodled 747 fleet, makes for a second dally link with America's West Coast. The airline already flies to Los Angeles. The San Francisco109 words
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Page 5 Advertisements
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Advertisement318 1978-01-24 5 from Penguin IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the workf in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works, Runaway Horses, is now published in318 words
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Article559 1978-01-24 6 THE US CLAIMS often, and volubly, that It has the beet 08P system of all the major developed Importing nations. It says for instance that where others Insist on a 50 per cent local value added figure to qualify for a GSP certificate of559 words
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Article268 1978-01-24 6 THE PLAN TO DEVELOP Singapore Into an air freight centre comes not entirely as a surprise. The Republic enJoys spme very distinct advantages that gives it an edge over Its regional rivals. It enjoys a natural strategic location that attracts about- 40 scheduled and non-scheduled airlines268 words
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Article, Illustration1695 1978-01-24 6 JAMES PEIPERT - HOW would Singaporeans like it if oil was struck, My, fat the heart of the Botanic Gardens, or whambang in the middle of the Padang, or per ha pa under the 140 year-old Thian Hock Ken| Temple? Would cupidity or environmental concern rule1,695 words
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Article, Illustration734 1978-01-24 6 DAVID SMITH - By DAVID SMITH Reuter THEY UBED TO SELL titles to San Marino. You could become a baron, a count or a marquis for a few thousand American dollars. Even the odd dukedom changed hands for the right price about U8520.000. "But we stoppedReuter - 734 words
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Page 6 Advertisements
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Advertisement672 1978-01-24 6 H k. sinoapura FORUM U HOTEL ADtaMndMi> MwHMk 585 Orchard Road, S'pore 9. Tel: *****2 Hotel 406/407 Havelock Road, S'pore 3. Tel: *****1 Onchid Inn "•n oaalt in it* ortent" 214 Dunesrn Road, S'pore 11. Tel: *****2 %f»> Cockpit gstet %H Oxley RiW Peun| Road, S'pore 0. Tel: *****1 Pebble672 words
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Page 6 Miscellaneous
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Miscellaneous60 1978-01-24 6 WEA THER outlook for Singapore from 6 am to noon today:- Mainly fair. REPORT for 24 hoar* prior to 7.30 pu as January 22 at airport. MaximaniTffttMf 29.7° C Associated Humidity S7 Minimum Temperature 23.3° C Associated Humidity M Hours of Sunshine 2.06 BahrihH in Millimetre 19.9 Total Rainfall for60 words
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Miscellaneous204 1978-01-24 6 SINGAPORE 5 3.00 P.M. Opening announcements followed by Flying Nun (Repeat) 3.30 Diary of Events 3.35 Afternoon Matinee The Lord of Barmbeck, Starring Martin Luttge, Judy Winter, Inken Sommer, Simone Rethel. (Part 2) 4.20 Intermission 6.10 P.M. Opening. announcements followed by The Road Runner Show 6.30 News in Brief 6.35204 words
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Article, Illustration1633 1978-01-24 7 CHAN BONG SOO - •y CHAN BONG SOO THE Age of the Bean Is coming we had better get used to the Idea. Hopefully, the humble but proteln-rlch soyabean will some day provide the world with the best means of overcoming meat shortage, malnutrition and food-price Inflation. At a three-day International1,633 words
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Article409 1978-01-24 7 TAN LAI HUA - Letter to the Editor TAN LAI HUA Dear Sir, You have made a subtle hint that the General Secretary of PIEU and SILO was trying to popularise and sensationalise the Injustice meted out to union members. It appears that you did not bother to find out the409 words
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Article480 1978-01-24 7 THE ROTARY CLUB of Singapore Bulletin recounts that local personality Georee Thomson once the Government Information man and until recently a Nanyang University professor Is a Scot by origin, although now a Singaporean, and naturally Kud of his kilt. When he k it to the cleaner's480 words
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Article981 1978-01-24 7 JOHN TAN - FOBPM, f ...on economics k-. A By JOHN TAN AT THIS TIME of the year, governments, like eomKiies, have to report to lr shareholders. They tot-up their profit utl loss statements and draw ud their balance sheets, and then present these figures In that981 words
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Page 7 Advertisements
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Advertisement386 1978-01-24 7 rjggp SINO APOft C Tanglin Circus, B'pore 10. Tel: *****1 Marco Polo Restaurant Enjoy the art of wining and dining Marco Polo Restaurant Car valets in attendance damada IYhotelA HOTEL ROYAL-RAMADA Newton Road, S'pore 11. Tel: *****1 We've got it all together Golden Mikado Cantonese Cuisine prepared with Just the386 words
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Page 7 Miscellaneous
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Miscellaneous40 1978-01-24 7 Bn&toW Scene. "Mme oPFce or "fears Lta. (Hols for *V>e fVols) ujhpws THE. fbsrrort te&fttolNG OJd VfSTIfcST VAOTeL TutJBO SuR. LB fLB&C «T SlOtfeNߣf\CM P GOOD morN»MG... \'m 04QUlRirt& ROOWT YOJfL *T Do Soo pi UMTVA Sfeß viei>i? r J40 words
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INTERNATIONAL STOCK MARKETS
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732 1978-01-24 8 NYT NEW YORK: Indexing, a system by which money managers attempt to structure an investment portfolio so that its perfor"hiance mirrors that of the Standard and Poor index of -600 stocks, may be one of the least rewarding investment ideas to come alongNYT - 732 words
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Article731 1978-01-24 8 NYT NEW YORK: Berkey Photo Inc. Is hardly a name to conjure with these days In Wall Street. The shares, which reached In the 1068 bull market, have not traded above 10 since the beginning of 1974. More recently, they traded at three. ThisNYT - 731 words
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Article442 1978-01-24 8 Reuter LONDON: Moderate gains in UK government bonds after the UK December money supply flguree oooid foreshadow further advances as market apprehension over theee flguree luboidee, UK government bond market analysts believe. UK sterling M 3 showed a declining rate of annual growth ofReuter - 442 words
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Article62 1978-01-24 8 Reuter THE European Investment Bank is issuing a 10 year £25 million Eurobond carrying a coupon of 9H per cent and priced at par, primary bond market sources said. The issue is lead managed byS.G. Warburg and Co and has already been placed with 19 hanks. AReuter - 62 words
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Article407 1978-01-24 8 HONOKONO: Share prices closed firmer yesterday with interest centered on blue chips, while second liners fluctuated narrowly, dealers said. Among the blue chips, Jtrdln* Mlhsssn firmed 00 to 12.50, Hone Koo( Buk 20 to 17.10 and Hutchison Whampoa 7.5 cents to 3 85 Hoax Kon® Land and Swire Pacific407 words
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Article789 1978-01-24 8 NYT NEW YORK: The ripple of rising long-term Interest rates has eddied almost everywhere from government and federal agency bonds to prime rated corpora tea and even such ordinarily quiet financial backwaters as closed-end bond funds. The extent to which the market price ofNYT - 789 words
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746 1978-01-24 8 NYT NEW YORK: The average mutual fund outperformed the Standard and Poor's Index of 500 stocks In 1077, but It still ended the year In the red. The S and P Index, made up primarily of heavily capitalised companies, declined 7.4 per centNYT - 746 words
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Article617 1978-01-24 8 NYT NOT long ago, a senloi Investment officer of a large mutual fund complained to an acquaintance about the commission he had paid to trade 1,000 shares of stock for his personal account US 38 cents a share. "If I had been acting in my professional capacity,NYT - 617 words
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Article380 1978-01-24 8 TOKYO: Share prices closed lower yesterday In limited trading In the absence of encouraging (actors, dealers said. The Dow Jonis iterate fell 17.86 to close at 5.04«34 with volume of 190 million sharss. The New index closed at 314.95. down 1.94. Export orientated electricala vehicles and cameras led the380 words
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Article271 1978-01-24 8 SYDNEY: The stock market closed mixed yesterday with BHP falling two cents to ASS.36 and ACI five to 1.68 while The Wales rose two to 5.24 In firm banks, dealers said. Properties and brewers were mixed while Paao—tin—tol Ml M to Sll aad TUees two to 1.80 while Nertk271 words
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Article125 1978-01-24 8 MANILA. The stock market closed mixed yesterday with commercial averages posting slight aalns white minings and oils declined, dealers sakl. Turnover (ell to 1.83 million pesos from Friday's 3.47 million. JAN 9 tan Acoj* Mining m unch AUaiOon A 11.M +•0.4 Alia* Con B BMUtoOoA Bentuct Con. B 13.tO125 words
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Article329 1978-01-24 8 HONGKONG: The atart of the week to Jan 17 mw a continuation of the downward trend reestablished on Monday, Jan 9, report* investment broken Laurence Pruat. Fractional loaaea were recorded by moat leading •hare* on Wedneeday, the firat day of the period under conaideration, when the329 words
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Article147 1978-01-24 8 JAN a Bahts Asia Fibre rn +1 Bangkok Bank M3 4-1 Bangkok Invest 370 ♦4 Bangkok-Metro-politan Bank ■ata 700 20 BerllJucker 530 Carpet Intnl 371 ♦2 Charooni Thai Wire 340 unch Dumex Duslt Thanl 340 ♦4 Faber Merlin First Trust US ♦«0 Oenera Finance 370 4-4 Indo-Thal 430 Industrial147 words
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Advertisement165 1978-01-24 8 ASM RESEARCH BULLETIN This uniqu« publication offers businessmen each month a comprehensive guide tp the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided into six separate reports of about 8,000 words eoch. There is165 words
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INTERNATIONAL COMPANY NEWS
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Article673 1978-01-24 9 NORTH AMERICAN COMPANIES Mew YORK: Consolidated Edison, which shocked the j Investment world In April, 1974, when It eliminated Its 45-cent quarterly dividend, has since restored the payout, at a higher rate, and may increase the dividend again today. in any event that Is673 words
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Article383 1978-01-24 9 THE major US mining house, Amax, has written down heavily Its Investments In Botswana and the Zamblan Copperbelt which have been severely hit by the depression In nickel and copper markets. A net charge of US$Bl million or $2.50 per share, has been approved against Amax383 words
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Article135 1978-01-24 9 Reuter CHRYSLER Corp said It is delaying a US$5O million conversion of its Jefferson Avenue assembly plant to van production until the federal government adopts "common sense standards." President John Rlccardo also said published statements attributed to Joan Clay brook, administrator of the National Highway TrafficReuter - 135 words
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Article77 1978-01-24 9 FORD Motor Co of Canada said it received permission from the anti-Inflation board to raise car prices by much as five per cent. .Ford did not specify how much the Increases will be, It recently ■.notified dealers they will be -protected against Increases of more than three77 words
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Article277 1978-01-24 9 Reuter TOKYO: Hakodate Dock Co chairman Hideo Ooda told a press conference new loans being sought by the company from a group of banks total nine billion yen. The company announced late last month it was seeking new financing to cover a shortage of operating funds,Reuter - 277 words
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Article126 1978-01-24 9 ASIAN COMPANIES UPI YANMAR Diesel Co., an Osaka-based farm machinery maker, said Its wholly-owned subsidiary in Brazil has laid off 300 local employees because of sluggish sales In the Latin American country. The manpower reduction by Yanmar Do Brasll was announced following the Brizillan government cancellationUPI - 126 words
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322 1978-01-24 9 Reuter JOHANNESBURG: Johannesburg Consolidated Investment Co Ltd said results of group gold mines for the quarter ended Dec 31 are as follows: In order, taxed profit (million rand), gold produced (kg), yield (grams/ tonne) and cost (rand per tonne milled) with previous quarter In brackets:Reuter - 322 words
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Article131 1978-01-24 9 Reuter ROCKWELL International corp., the electronics and aerospace company, reported a sharp gain In first quarter profits, although sales were flat. Rockwell said Its quarterly profits for the period ended Dec. 31 were US$4O.l million or $1.15 a share (1.05 diluted), up 30.8 per cent fromReuter - 131 words
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Article62 1978-01-24 9 Reuter BURROUGHS Corp said it reduced worldwide debt to less than US$4OO million in 1977 from $517 million at the end of 1978. Burroughs earlier reported 1777 earnings of $5.31 a share against $4.62 in 1976. The company added that worldwide backloss at yearend were 15 perReuter - 62 words
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Article119 1978-01-24 9 THE China Light and Power Company of Hongkong and the Esso Oil Company have together ordered power station equipment worth £100 million from Britain, the British Department of Industry announced. It said the companies had issued a letter of Intent for the order to the General Electric119 words
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Article112 1978-01-24 9 LONDON: Algerian state oil and gas concern, Sonatrach, Is arranging a US$35 million 10 year Euroloan at 1 3/8 per cent over London Interbank offered rates, Marine Midland Bank said as lead manager. The loan, which carries the guarantee of Banque Exterleure d'Algerle, will help finance the112 words
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Article395 1978-01-24 9 EUROPEAN COMPANIES HAMBURG: Deutsche BP AO expects higher petrol prices this year and an average rise of three pennIngs per litre would solve the problems of losses on oil business, managing board chairman Hellmuth Buddenberg told reporters. Oerman BP expects overall losses of 54395 words
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167 1978-01-24 9 AFP THE French glass-making firm Compagnle Francaise des Verrerles d'Arques and the Sasaki Company are to form a Joint subsldlanr in Japan to market and later manufacture d'Arques products. It was announced officially. The news was given by Jean Jacques Durand, deputy managerAFP - 167 words
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Article398 1978-01-24 9 MIDLAND and International Banks (Malbl), the oldest of the London-based consortium banks, announced last week that they are to form a Joint company in Hongkong with the Bank of Bermuda as partners. Called Malbl Bermuda (Far East), It will be 80 per cent owned by398 words
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Article64 1978-01-24 9 BARCLAY Bank International said its Dutch subsidiary Barclays Kol and Co formed a Joint venture company with W.I. Carr Sons and Co and First Options of Chicago Inc to deal in traded options on the European Options Exchange In Amsterdam. The new company is called First Options of64 words
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Advertisement300 1978-01-24 9 r a BUSINESS TIMES UTVBMT. 4AWAIT T. I 1 SIKTAT Ker*t a C xr SITES MAY BECOME GHO6T TOWNS USdoiii Contractors fear ■toady dspite labour squeeze us <wiar Metro calls it a day at Marine uncertainty Parade 2 r4 a r: 3 j St 22 i X 31 f jy-T300 words
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DEALS DONE ON THE SES AND KLSE
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Article1365 1978-01-24 10 BID mi WBtr prieee iMtßr Uitrt u4 kuiiMi is »»< ispmtod to the Stack Eartmnas to brackets in eto rf 1,808 anit* oalsm itlMnHit ipidtM* AD Um fill 11——if Coatract* an Sled after the nrU "Sett". Board deals (la lata of 2,880 to) aro fMt«4 after the letter*1,365 words
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Article177 1978-01-24 10 BO T 8 1/2* IMI (100,000) (100%8 101H8) BOT7 5/8% 1864 (100,000) (MB M*S) B O T Floating ISM (100.000) (M*B M*S) LTCB J 1862 (100,000)(99HB 100*8) Credit Lyonnnis Floating ISM (100,000) (M*B 998) C Itoh 8 1/8% 1864 (100,000) iM*B 978) > B 8 Converts 8 1/2%177 words
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Article171 1978-01-24 10 ftep hm D Marti T» ISM (loo.ooo) (loawß in MS) Rep tiwt S 1/1% 1988 i 100.000) (102 SB 103*8) tea Bitn 7 8/4% ISST (100,000) (M*B 1006) 4 J/4% 1/S/T0 (150,000) (100.STB 100.708) 5 1/4% H/IS/T9 (250,000) (101.UB 101.108) I V 4% 1/4/7S-M (150.000) (101.15B) 4 1/4%171 words
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Article376 1978-01-24 10 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 op Cold Storace (March 81.70) (0.308 0.368). (June 81.70) (0.348 0.428). C and C (March 82 20) (0 558 0.668).376 words
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Article152 1978-01-24 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Meaeswe' prim i for Jaa 24) ICanal pr tan) The Commerce.... 1.77 in INCOME BOND 108 1.16 The Saving Fund S pore Prof Fund 1.10 1.16 0.S1 OK MARA BUMIPUTRA FUND S pore Security Fund 1.00 1.70 INuHm' priess First Bumlputrs Mr152 words
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Article1495 1978-01-24 10 BID and dhr prtsss attetolty lis tod ami bwslasss la and repavtodto the «aala I the a umber ef s2rsa*tradod shown in brockets in lots at I.SM units unloos ethorwioo specified. INDUSTRIAL! AMI (1.445). Altoomsto (MSB) Aieea* (S.STB) (S) S.M (1) Lis <T) B.ST. A CNee (I.ISB1,495 words
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Article2441 1978-01-24 10 1*77/1*78 Hi(k Low Company Last Sale ■fee* Gr> Dtv Dtv Cn Gr's Y*M Net P/E Vel (•606) Day Hlgk Low SECTION ONE 1 INDUSTRIALS IM 260 119 246 88* 205 100 278 422 140 132 165 58 212 57* 155 145 182 360 91 Ac ma Alcom2,441 words
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Advertisement163 1978-01-24 10 tJgJL* COLLKTINQ Oriental Antiouej ra i v ktav 0 > r by Judith Moorhouse and Dries Blitz Hamlyn Group, London. Oriental antiques' have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the163 words
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Article, Illustration603 1978-01-24 11 ■SINGAPORE Arnm a It-math sus■wniia. trading fas Faber Merlin Malaysia was resumed la a generally steady Stack Exchange m SS^SKSSS'S^fS ceats above its pre-sus-price of 93 cents was 31 cents above its pra-eoepenaion-price of U cents. A major portion ef the activity was attributed to603 words
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Article532 1978-01-24 11 HEAVY trading interest was directed at Faber Merlin yesterday when It returned to the KLSE boards after a 23-month suspension. The share was Immediately marked some 15 cents higher from Its presuspenslon price of 83 cents, but failed to remain at the higher level for long.532 words
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COMPANY NEWS
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Article272 1978-01-24 11 Cmrm* Ki Data IteaJfcr Pifiil Din miMi fte yaar »«li Mfmr ULhMM 9*ITB Jan 10 Jan 14 Oft 10»TB BmJ—MlTM MM Jan 9 Jan 2* 50* 110*<a) ijwsta. a? ar -as sr s LT.Pm 7*1 Jan 11 JkalT 7* 90* MOm THTBo) DkM Jan 20 111 MTB C«iC272 words
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634 1978-01-24 11 GERALD COLVERD - Br GERALD COLVERD A MULTI-MILLION pound bid war which will challenge the traditional dominance of UK plantation managers, Harrisons and Crosfleld (H and C), over more than 17 plantation groups operating between India and the Far East, has been sparked by a £17.5634 words
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Article305 1978-01-24 11 CONSOLIDATED Hotels; says the recent overdraft facility taken from Over-sea-Chinese Banking Corporation carries an Interest rate of 2tt per cent above the bank's prime rate. The hotel is replying to questions posed by the Stock Exchange of Singapore regarding the terms and conditions pertaining to the loan.305 words
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Article55 1978-01-24 11 The following company meetings are due: Ckaaiosl Coapssy sf Malaysia Bhd.: Jan M In the board-room of Malaysian Industrial Development finance Bhd. 4th Floor, Bangunan MIDF, 117, Jalan Ampang. Kuala Lumpur at 11.30 a.m. Pet*line tla. Bhd.: Jan 28 at the company's registered, 114 Jalan Sultan Yuasuf, Ipoh,55 words
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Article161 1978-01-24 11 AFP THE Exxon Oil Company In Malaysia la awaiting the arrival of a large storage tanker from Japan before commencing production at Its two oil fleids off Trengganu in the East Coast. A company spokesman said the tanker was expected to be delivered in April andAFP - 161 words
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Article, Illustration164 1978-01-24 11 FIRST Chicago has promoted Mr Peter W.B. Tmm and Mr Barry W. Laaaat to assistant rice presidents. Mr Tam, who joined the Singapore branch In 1971, Is head of the operations department. He has previously worked with the bank as operations manager in Hongkong. Mr Lamont Is164 words
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LATEST RESULTS
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Article39 1978-01-24 11 Group pre-tax operating profit $917,419 ($1.84 million) for the first six months ended Oct 31, 1977. Loans wade $61.53 million ($70.10 million). Parent company pre-tax profit $994,872 ($1.79 million) on loans made of $81.53 million ($70.10 million).39 words
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833 1978-01-24 11 CHAN BONG SOO - •y CHAN BONG SOO 80ME $30 million were wiped off the wood-baaed Industrial sector of the Stock Exchange of Singapore last week even though most of the Issues in the sector ended up in plus territory. According to the group Indices computed by James833 words
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Article79 1978-01-24 11 THE Stock Exchange of Singapore has delisted Temenggong Ltd as from yesterday, following the successful takeover by Bowater (Southeast Asia). Earlier this year the offeror company's merchant bankers, Baring Sanwa Multinational, has announced that the offer has become unconditional. Acceptances of 91.83 per cent representing 6.52 million snares79 words
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Page 11 Advertisements
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Advertisement267 1978-01-24 11 ice -•41 m •SB ~r .i* c. r?- if m s? f W The three bosk needs and the three ports of Britannia) 3 1. Te get at the facts often a single fact easily and quickly, without having to read a long article in which that fact it smpeddwl.267 words
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Article, Illustration828 1978-01-24 12 SIVA ARASU - NEW OPEN SKIES POLICY u ®r SIVA ARASU pISCOUNTINO is not peculiar to the air travel market. It Is also rife in the airfreight sector but has not reached a sufficiently Critical level to hurt Singapore's efforts to develop the into an airfreight828 words
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215 1978-01-24 12 JAPAN'S exports of textile products last year totalled US$5.l5 billion (5511.89 billion), a 0.9 per cent Increase in value from 1976. The country's imports of textile raw materials, however, were $2.22 billion, a modest 2.3 per cent increase from 1976. Imports of215 words
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Article450 1978-01-24 12 Reuter THE QUEENSLAND state government does not want to take the drastic step of bringing the sugar dispute with Malaysia for lntarnattonaf arbitration, but will if forced to do so. State Mines and Energy Minister Ron Camm said m Brisbane. Official sources In Malaysia said AustralianReuter - 450 words
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Article205 1978-01-24 12 AP LEGISLATION designed to protect US Industries from foreign competition appears to have little chance of enactment this year In the final session of the 95th Congress. Much of the momentum behind measures like one that would authorise quotas on steel Imports has been dissipated by the CarterAP - 205 words
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Article728 1978-01-24 12 LONDON. Mon. Prices closed njlxed after a quiet and featureless session At 3 p.m. the Financial Times Index was down 0.2 at 487.4. Government bonds showed falls ranging to v 4 point after ruing by up to Initially Equities were mixed with gold shares a firm feature In728 words
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258 1978-01-24 12 THE tease ektirnte of Bea aad Co., Gepal Chaadraa Ear Ckcttury, 64. jootorday claimed trial la eeort te charm ef five oAtocoo oador tJM Cenpomiee Act. Ch»aft«n, stir oMUtagiag director ef aa laiporta ead inati ftrai la lateraatiaaal Ptaaa, Is a—aoed eft Maldag258 words
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525 1978-01-24 12 Reuter JAPAN'S risible trade curpius In December roee to an all-time monthly record of U882.68 billion (BM.S billion) from f 1.61 billion In November and 11.66 billion In December 1676. The Finance Ministry announced in a preliminary report that December surplus brought theReuter - 525 words
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Article461 1978-01-24 12 Reuter BANK of Japan governor Tellehlro Morlnaga said his bank does not consider a cut in the official discount rate of 4.25 per cent per annum necessary for the time being. He said interest rates on lendlngs by Japanese banks are falling steadily and credit supply isReuter - 461 words
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Advertisement1049 1978-01-24 12 BEE PAGE I China trade... a US$2O billion goldmine Here's how you can tap it In a series of bold moves, China's new leadership has embarked on an ambitious'economic development program aimed at accomplishing the modernization of the country's industry, agriculture, technology and national defence. According to senior officials interviewed1,049 words
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