The Business Times, 9 February 1978

Total Pages: 12
1 12 The Business Times
  • 11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 THURSDAY, FEBRUARY 9, 1978 SO CENTS
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  • BRIEFLY...
    • 69 1 WASHINGTON, Wed. The first comprehensive survey of foreign lending by US banks showed that the united States' largest banks had US$lO4 billion (***** billion) In outstanding foreign loans as of last June 30.. Nearly half the loans 42 per cent were to the world's major non-communist Industrial powers.
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    • 52 1 UPI WASHINGTON, Wed. Worldwide demand for oil now totals 60 million barrels a day and grows at the annual rate of 5 per cent. Mr. John O'Leary, deputy Energy Secretary, yesterday said production needs must Increase by three million barrels a day just to keep up with
      UPI  -  52 words
    • 80 1 UPI SOUTH KOREA, Wed. Soaring food prices led a price spiral In South Korea last month and posed serious threats to a government plan to curb Inflation at 10 per cent this year. In Economic Planning Board said consumer prices rose by 2.9 per cent and wholesale prices
      UPI  -  80 words
    • 80 1 UPI CANBERRA, Wed. Prime Minister Malcolm Fraser criticised Australia's principal trading partners for restrictions on Imports of Australian goods and hinted that Australia may not be easily accessible to future Imports. The blast at Japan, the United States and the European Economic Community (EEC) came one day
      UPI  -  80 words
    • 67 1 Reuter EAST BERLIN, Wed. About 9,000 exhibitors from 62 countries, Including a record 27 from the Third World, will take part in this year's spring trade fair In Leipzig. Developing countries account for only a tiny percentage of East German's foreign trade but nave recently been the target
      Reuter  -  67 words
    • 52 1 AP BASLE, Wed. 011-rlch countries borrowed more money from the International banking system In the last quarter of 1977 than they deposited, the Bank for International Settlements reported today. BIS said during the period Opec members borrowed a total US$2.2 billion (555.06 billion) and deposited only $0.4
      AP  -  52 words
    • 45 1 UPI LONDON, Wed. Talks on North Atlantic air lares between Britain and the United States are expected to begin here on Friday. The talks are aimed at securlhg an agreement which will end the confusion on routes to and from Britain. UPI
      UPI  -  45 words
    • 78 1 UPI NEW YORK, Wed. Anticipating the first normal trading session this week, traders sent prices higher In active trading today on the New York Stock Exchange. Against a backdrop of optimistic news from Washington regarding natural gas pricing and a Conference Board report on rising consumer confidence, the
      UPI  -  78 words
  • Chief Price Changes
    • 117 1 Rites Most active Sr*OCBC Tan Chang Oins Plant Car Is berg DBS '4bcfcSan« Msiaa Ctainars G Cermmics 167 107 04 505 260 462 410 348 200 154 215 +7 +6 +5W +5 +5 +4 +4 +4 +4 +4 +3 API 337,000 Fabar Martin 287,000 Pafcaag
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    • 124 1 Rites Most active Keck Sen Sovran B fUya API LoyUpe Alcorn lYoBOil OCBC TOMB YHS(M) Shell I $2.06 *1.44 tl.70 $0.96 <1.20 •2.71 15.80 S«.00 11.40 si.so$2.04 .09 +.08 .06 .05 05 .05 .05 .05 .04 .04 +.04 A P I 229,000 f 175,000 FMertin 143,000 Suprem
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  • 882 1  -  EXPORTS TO SINGAPORE TOP $4B By JOHN TAN JAPAN exported a massive $4.47 billion worth of goods to Singapore last year giving her an overall annual trade surplus with the Republic of $2.56 billion. Her trade performance also enabled Japan to vault from third
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  • 84 1 THE Philippine Central Bank said it will only approve foreign borrowings guaranteed by domestic financial institutions when the Interest rate does not exceed by 1.5 per cent the best rate offered in the lending country. This compares with the previous celling of 1.75 per cent The bank
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  • 501 1 JAPANESE trade officials said yesterday that there Is Uttle likelihood of a quick agreement with the European Economic Community on trade issues, even though the EEC Is sending representatives to Tokyo seeking concessions. An official of the Ministry of International Trade and Industry
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  • 233 1 Reuter SOUTH Korea has set up a special government body to study measures leading to eventual import liberalisation. The decision to appoint an import liberalisation study committee was made at a meeting of ecooomic ministers last Monday, CommerceIndustry Ministry officials said. The
    Reuter  -  233 words
  • 372 1  -  ®y SOH TIANG KENG A US$2O million Asian dollar consortium loan -to the Philippine National Bank was signed in Singapore early this week. The three year loan signed on Chinese New Year's eve Is In the form of a deposit credit facility. Lead
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  • 142 1 AP INDONESIA'S (our partners In Asean have agreed to the dismissal of Indonesian Lieutenant General Hartono Dharsono as Asean Secretary General, Indonesian interim Foreign Minister Mochtar Kusumaatmadja said. Returning from consul" tations In Thailand, the Philippines, Singapore and Malaysia, Mr. Kusumaatmadja said the decision was
    AP  -  142 words
  • Page 1 Advertisements
    • 4 1 AKAI SEE BACK PAGE
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    • 121 1 i QyS AMOST MSHNGOSBED GSR! 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 extensive
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    • 81 1 INSWE BOA meathc la towa EEC to trim ayntketic fll capacity SHIPPING will tain ti to mow two ytan BENEFICIARIES t ASEAN may tap external ttuMh 7 WHAT it take* to be at the Mm 3 of HSBC 7 YHS (M> recipe for soooom 11 s KHONG Gum phrngw mid-way
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    • 3 1 BKB BACK PAGB
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    • 138 1 Front Load Any person sealed at this desk can do the work of three people Yes, one person to handle all customer accounts. Calculate and complete invoices. Prepare statements. Process payroll. Control the ledgers. Control stock flow. All these procedures completed at electronic speeds with electronic accuracy. The same person
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  • TRADE AND INDUSTRY
    • 400 2 AP Reuter U8 SPECIAL trade envoy Alan Wolff said the United States would walk out of current trade talks in Geneva ft the European Economic Community (EEC) did not allow a favourable deal for agriculture. Mr. Wolff was speaking at a news conference in Canberra
      AP; Reuter  -  400 words
    • 214 2 COURSES AND TALKS DATES TITLE LOCATION ORGANISER Feb 4 11 Telephone Techniques and Courtesies SIM Conference Room SIM 6 15 Material Store Accounting and Control Hotel Royal Ramada 6 17 LCA Module 11: Basic Industrial Pneumatics NPB Jurong Office NPB 6 17 IE Module I: Methods Study Hotel
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    • 181 2 LOCAL hospital administrators will oe able to see some of the latest in British hospital equipment when a Health-Care trade mission visits Singapore from Feb 12 to 15. The mission consists of 16 British firms. Its wide range of products and services
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    • 136 2 THE department of extramural studies of the University of Singapore will be holding four courses over the next two months: A 15-lecture course on financial accounting beginning on Feb. 13. Fee Is $75. A 10-lecture course on practical architecture beginning on Feb. 14. Subjects Include
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    • 123 2 THE National Productivity Board (NPB) will be conducting a revised course on Industrial engineering for supervisors from March 6. The course comprises five modules of 25 hours each and will be conducted in English and Mandarin. It will cover method study, work measurement and incentives, quality
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    • 527 2 Agencies THE US has approved the sale to China of three Japanese computers but Is Insisting on a number of safeguards, the U8 embassy In Tokyo said. The embassy issued a statement saying the US has advised the Coordinating Committee for Export Controls
      Agencies  -  527 words
    • 387 2 UPI NORTH Korea has reported that It is unable to resume payments of US$27O million (***** million) In trade debts owed to Japanese firms. As a result, creditors may force a complete breakdown of trade between the two countries by applying to the government
      UPI  -  387 words
    • 140 2 Reuter EXPORTS of sheet and crepe rubber from Singapore and Peninsular Malaysia fell to 159,042 tonnes last September compared with 170,923 tonnes In August. Statistics Department figures show that of the September exports (August In parentheses), the UK took 10,212 tonnes (9,929), the US, 20,873 (36,711), West
      Reuter  -  140 words
    • 666 2 UPI THE world's oil producing nations should create a pool of capital of up to US$25O billion (*****.5 billion) to stimulate Investments In developing countries. US Senator Jacob Javlts, said. Predicting a worldwide recession within the next two years. Sen Javlts said bold
      UPI  -  666 words
    • 148 2 Reuter LAST year saw the least foreign Investment in the Philippines In nve years, slowing down a growing trend of investment that began after the imposition of martial law in September 1972. A statement by the Bureau of Investment Statistics said only 388 million pesos (*****.4
      Reuter  -  148 words
    • 257 2 BANK of America's senior vice-president, world banking division, Mr. Richard Manderbach. is scheduled to arrive in Singapore as part of an Asian tour. Mr. Manderbach expected to arrive from Jakarta, will stay until Saturday. While in Singapore he will visit some of the major
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    • 488 2 TIME is running out for Japan to gain access to New Zealand's 370 km fishing zone which goes into effect on April 1, and the New Zealand government Is showing no signs of softening its tough stance. Prime Minister Robert Muldoon, with the backing
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    • 47 2 MR. H. R. HOCHSTADT. permanent secretary. Ministry of Education, will open Creativity 77-78, an exhibition by students of the Institute of Education this Saturday. The exhibition, organised by the National Museum and the institute, will be held In the Young People's Gallery at the museum.
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  • Page 2 Advertisements
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  • Page 2 Miscellaneous
    • 599 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS I The meat Kate's minced (9) t Show how to cheat? (5) Like that well-off look? (7) 10 Sweet Welshman (6) It Left constantly on watch (5) 11 Are they a Job to use? (9) 13 Soldier possibly Aberdonlan (7) IS Study many points (S)
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  • OVERSEAS
    • 367 3 Reuter CONSUMER confidence In the United States rose In January for the third consecutive month, gaining 5 per cent over December levels, the Conference Board said. The January index was 104.8, base 1909-1970. The survey, covering 5,000 households, showed an increase in confidence on present and
      Reuter  -  367 words
    • 121 3 Reuter SENIOR officials from the 24 OECD nations met in Paris to review their stance on a common fund to stabilise commodity prices. They agreed to hold another meeting at a technical level on March 9 and 10. Negotiations between developed and developing countries on
      Reuter  -  121 words
    • WORLD IN BRIEF
      • 394 3 AN OIL crisis more serious than the one In 1973, Is looming between now and 1990, Cle Francalse Des Pet roles economic expert, Alain Joly said In Paris. In a group quarterly review, he said Eastern bloc countries will stop oil exports In 1980 due to growing
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    • 519 3 NYT LEGISLATION In the United States to ease the Impact of the 1970 law on overseas taxpayers would cost the U8 Treasury about US$ll5 million (BS2BB million X a year; and more than half or that tax saving would go to
      NYT  -  519 words
    • 191 3 THE Uaitod Arab Emirates Oil Minister Miu Said al Oteiba Mid in Abu Dhabi that the world's major «U exporters are watching tbe slide of tbe US dollar but be ia againat pricing oil ia terms of tbe International Monetary Fund's special drawing
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    • 465 3 Reuter THE Henley Centre for Forecasting has cut Its forecast for a 1978 UK current account surplus to £1 billion (554.5 billion) from £1.84 billion previously. The centre In its February issue of framework forecasts for the UK economy says this sharp downward revision arises from a
      Reuter  -  465 words
    • 541 3 Reuter AP ELEVEN producer* of synthetic fibres In the EEC have provisionally agreed to cut back planned investments by 20 per cent over the next few years to combat excess capacity In the industry. Informed industry sources said an informal agreement was reached
      Reuter; AP  -  541 words
    • 198 3 AFP THE US trade deficit, now nearly US$3O billion (5569.3 billion) a year, should start to drop by the end of 1978 and exports should show regular and encouraging Srowth, Treasury nder-Secretary Anthony Solomon told the Senate. Mr. Solomon, who is In charge of
      AFP  -  198 words
  • Page 3 Advertisements
    • 163 3 Non-stop to New Zealand. Non-stop comfort. Non-stop service. Non-stop entertainment. There's only one way to get to New Zealand in one hop. Nonstop. The fastest way. The most comfortable way. Every Tuesday and Saturday. Air New Zealand takes you there. In wide-bodied DC-lOs. With non-stop service because passenger capacity provides
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  • RAW MATERIALS
    • 319 4 TERMINAL rubber In London yesterday finished a quiet morning 0.05 pence per kilo down from Tuesday night to 0.20 pence up. Turnover totalled 66 lots of 15 tonnes Including two kerbs and one call option. Dealers said the market derived much of its support from easier sterling.
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    • 175 4 THE STRAITS tin market in Penang was closed yesterday for the Lunar New Year holidays, and will reopen today. In LONDON yesterday, tin advanced by £52 for cash and £45 for Three Months in both contracts. Values rose In the early pre-market aided by covering against overnight US
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    • 112 4 SILVER registered gains of 0.3 to 0.9 pence per troy ounce in London yesterday. Dealers said the very steady tone was aided by easier sterling against the US dollar while the bullion dealers' fix also induced some covering. A hardening trend in interest rates resulted in the Contango widening
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    • 134 4 IN LONDON on Tuesday, pepper prices closed as follows: (Prices per long ton ctf European ports unless otherwise Indicated): Sarawak While FAQ: Spot CIMON Afloat (per tonne) USS3.22S sir. Jan/ Feb (per tonne) U553.225 sir: Sarawak Black Special: Spot C1.400N, Afloat (per tonne) U552,350 jlr. Jan/Feb (per tonne)
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    • 67 4 C.l.F US dollars per ton. LONDON Tueaday Previous M;i lay Man 5% ffa bulk April unch 507 sir Sumatra 5% (fa bulk Feb 550 sir/ 545 pd 550 sir March 540 sir 540 sir April 522.50 sir 527 50 sir May 510 sir/ 507.50 pd 515slr June 500
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    • 327 4 ROBUST A futures in London yesterday opened officially "steady" but £5 to £40 up from Tuesday night. Turnover was 405 lots. Biggest fains were amoaf the distant untraded Months. Spot March, however r gained £13 while May rose £7. Initial gains In both these Months were £22 and £15,
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    • 294 4 SUOAR futures opened £0.05 down to £0.30 up In London yesterday. Turnover totalled 82 lots. Dealers said the market was very quiet following Tuesday's New York shutdown coupled with speculation that the market could be closed again yesterday because of the weather. Prices held steady in front of the
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    • 279 4 TERMINAL cocoa finished a rather indecisive first call ClO lower to £2.50 higher having initially traded in line with overnight levels, in London yesterday. Dealers said the slight softening reflected reports of a stronger French franc. They said the upward price potential is currently limited due to the nearness
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    • 226 4 RETAIL prices per tael quoted by the Singapore Chinese Gold and Silver Merchants Association are $520 for 90 per cent gold, $550 for 22k gold and $580 for 24k gold. In LONDON yesterday, the morning gold fix was U*****.00, 20 cents lower than the previous fix of $175.20. On
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    • 233 4 COPPER wlrebars ftnlshed the morning In London yesterday showing gains of mostly £2 per tonne. Values worked higher on the pre-market under short-covering and some chart buying around the £640 level for Three Months following the easier trend in sterling against the US dollar, dealers said. The forward position
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    • 77 4 LEAD rose by mostly £2 per tonne In London yesterday. Early short-covering lifted Three Months to £324.50 on the pre-market encouraged by the movement In copper but profittaking soon emerged In the ring where gains were pared. Sales of 3,500 tonnes were boosted by carries. On Tuesday, lead lost
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    • 78 4 ZINC in London yesterday finished mostly unchanged from previous closing levels. The market followed the general upward movement Initially with Three Months trading up to £255 before easing back under profittaking in the ring to £252. Sales of 3,850 tonnes were mainly carries. On Tuesday, zinc gained £0.50 for
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    • 82 4 SOYBEAN futures finished the session 2-3/4 to 1/2 cents a bushel lower on a light trading volume on Tuesday in Chicago. The market showed some initial firmness but slipped quickly under professional selling and weakness In product futures, with commission house selling adding to the downward pressure. Lack of
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    • 66 4 WHEAT futures posted losses of 3/4 to 3-1/4 cents a bushel, ending a light trade at or lust above the day's lows, in Chicago on Tuesday. Prices slipped early on a lack Of buying interest but some speculative support was encouraged In nearbys by exporter buying and firmness in
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    • 1286 4 AFP A LATE weakness of sterling against the US dollar brought a recovery in many commodity markets, including base-metals, in fluctuating conditions last week in London. Most markets recovered at first after the previous week's bout of speculative selling dried up, although there was some
      AFP  -  1,286 words
    • 227 4 US CORN produced for fain last year was a record 357 million bushels and soybean output a new high 1.716 million bushels. The US Agriculture Department In Washington said this. The USDA's Crop Reporting Board said the final estimate of,last year's corn crop
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    • 347 4 AUSTRALIA'S rice exports from the currently growing 1977/78 crop are likely to drop to the 250,000 to 265,000 tonne range from around 300.000 last year. Rice Growers Co-ope-rative Mills Ltd general manager Neil Donaldson told Reuters this by telephone from Lee ton. New
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    • MONEY AND EXCHANGE$
      • 300 4 THE FRENCH franc yesterday recovered from overnight levels while sterling came under pressure In both spot and forward markets. The franc's rally is at present underpinned by some profit-taking and remarks on Tuesday by President Valery Discard D'Estalng that all technical action to support the franc should be taken,
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      • 196 4 THE DOLLAR firmed against major currencies In a very quiet trading session on Tuesday, abbreviated for the second day by bad weather. Dealers said very little activity took place, with most business representing fulfillment of customer orders. Many firms operated with reduced staff, they said. Sterling closed at
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      • 72 4 THE DOLLAR for overnight delivery yesterday closed slightly higher at 241.55 yen. compared with a 241.45 opening and 241.50 at Tuesday's close Dealers said trading was light with volume 9179 million. The dollar for immediate delivery closed at 241.56, unchanged from the opening level but up from 241.37 at
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      • 47 4 MtANKFURT exchanges opening quotes on Feb 8: US 2 1086/80 <2 1065/75) CUI 1.8886/75 SU 4.083*73 D F1 93 38/48 S Fr 107 83/78 Ut 3 43/44 r Fr 41.88/43.08 M Kr 41.87/17 B Ft (con) 8 466/485 B Ft (fin) 8 44/46 Yen 0 8725/45
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      • 37 4 Pint Ckkais TH T TH T 7 7 7H H8BC Bank rfCUu 7 BaakaTTokya J MLST* j. i 1» hi 1 fTITIU] MJtaui Buk OCBC Cktrtand Buk 71, uc» DBS j........ 7'i UO« 7
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      • 139 4 Euro rates TRADING in Eurodollar deposits In London yesterday was quiet because of the holiday In the Far East. Dealers said period rates were adjusted lower for the Friday start and have drifted lower by around 1/16 on lack of interest. The fall in the One Month on a Wednesday
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      • 342 4 MARK denominated Eurobonds extended recent gains by up to Vk in moderate two-way trading in London yesterday. Eurobond price* quoted on Feb Straight* Bid Offer Total Oil stg 9* 84 fti »tg n 97 SO 96 25 99 00 99.75 Conrtaulds stg 9S89 96.00 96.75 EIB stg 9*« 92
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      • 58 4 AUSTRALIA/NZ exchanges on Feb 7: AUSTRALIA: US dollar 1.1380/1 1332 Sterling 0 5907/0 5643 Ninety-day air mall buying Mies: sterling 0 6042 US dollar 1.1680 s Ninety-day forward buying rages Sterling 0 5888 US dollar 1 1336 NEW ZEALAND: Sterling 0 5278/0 5251 US dollar *****/1 0126 Ninety-day airmail
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  • Page 4 Advertisements
    • 165 4 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASIA RESEARCH BULLETIN This unique 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
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    • 4 4 lal I 11 f)
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  • TRANSPORT
    • 658 5  -  By TERESA LIM "THE OUTLOOK for world shipping continues to be -'dim and a minimum recovery time of two years Is One major factor stalling the upturn of shipping Is "the world economy which, according to Mr. Hans Jacob Kruse, chairman
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    • 203 5 AP PACIFIC Far East Line, one v of the oldest shipping lines I'on the US west coast, has 1 filed a petition in federal bankruptcy court aimed at gaining time to pay off debts. The petition lists total i assets of US$l79 million (SS4I2
      AP  -  203 words
    • 164 5 NORTH Atlantic grain rates showed further evidence of the dampening' Impact of persistent slack chartering on Tuesday when the "Duiven-drecht accepted the 40-cent lower rate of US$B (FIO) for a 35,000-ton March 1-15 ship""lhent from St. John or Halifax to Tilbury. US Gulf grain fixing continued dull, but
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    • 132 5 AP AP THE British are sticking firmly to the contention that their version of a futuristic bad-weather aviation landing system Is superior to the one proposed by the United States. Prestige Is at stake in the worldwide adoption of one of the systems. Michael Whitney,
      AP  -  132 words
    • Article, Illustration
      121 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Christian Maersk (1800 after Phrontls) 35/36 Felchl (1830) 1/2 Ool<}en Season (0600 45 Rajah Brooke (1500 after Sebarok) 20 San Luis (1500 47 Sanel Maru (Tanker) (2100) (Subject gas free) 16 Straat Frazer (0600) 3/4 Tapah (1500 21 East Yamateru Maru (JEVS)
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    • 185 5 AFP BRITISH Airwaya plana to increase its Concorde flighta to New York to 10 a week by June. Both British Airwaya and Air France will booet the number of flighta to New York from London and Pa Ha from three a
      AFP  -  185 words
    • 289 5 SHAYAD Lines, a Joint venture between Iranian and Greek partners, was lnaugrated last December and operates a seml-contalner liner service between the Far East and Iran. It has acquired two new vessels with a capacity of 213 TEUs each. Two more vessels with a capacity of 258 TEUs
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    • 1178 5 CHARTERERS had little difficulty In fixing suitable ships in the depressed conditions on the world freight market last week, while paying lower rates. Owners, however, were reluctant to reveal details of business done. Chinese charterers booked tonnage out of British Columbia for the first time since September,
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    • 657 5 Reuter UPI GROWING use of ships flying flags of convenience is bringing benefits to shipowners In rich states, and burden to the poorer countries which agree to register the vessels and supply the crews. A United Nations report submitted by the Secretariat of the
      Reuter; UPI  -  657 words
    • 759 5 ARRIVALS Service Operator Number Local Time From MAS MH601 0715 KUL MAS MH682 0810 KCH SIA SQ101 0815 KUL MAS MH621 0835 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL OIA OA 980 1030 HLP CPA CX710 1035 HLP SIA SQ103 1045 KUL SIA SQ209 1045
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  • Page 5 Advertisements
    • 136 5 Strength and quality Australian building materials are available to exact specifications and are made to the highest standards of quality. The range is a vast one and includes structural steel, hardboards, cast-iron pipe fittings, all kinds of insulation, aluminium framed doors and windows, louvres, kitchen and bathroom fittings, welders, hand
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  • 525 6 SINGAPORE'S trade lait year, satisfactory a* It may seem from an overall point of view, again highlights the need for local manufacturers and traders to have strong hearts and attack more vigorously the non-traditional markets. It has been four years since the first effects
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  • 231 6 WHEN Indochina seems still so unstable, politically, it Is a comforting sign that Vietnam and Laos at least have taken the trouble to participate in four-nation air talks being held in Vientiane this week this will be the first breakthrough for airlines of the world
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  • 2074 6  -  By COLIN CHEE HE SEEMS rather a shy sort, mild-mannered and soft-spoken, almost selfconscious, considering he Is the head of one of East Asia's larger financial conglomerates the Hongkong and Shanghai Banking Corporation, or Hongkong Bank for short, "Hongkers and Shangkers" to the more
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  • Page 6 Advertisements
    • 567 6 I 3 ii* sinoapura FORUM |J HOTEL 186 Orchard Road, S'porc t. Tel: *****2 Experience the unique expression of Tanla Oreat 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 (except Sunday) open till 2.00
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    • 163 6 m SMGAPORE HLTON Ml Onftord Road, S'porc 9. Tel: *****3 Hin'a Heavenly Cookhouse Hin's Heavenly Cookhouse offers the opportunity to relish the many and varied flavours of Singapore. Exotic Chinese cuisine; spicy Indian curries; delicate Malay and Indonesian foods. all under one roof. During dinner, a troupe of local performers
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  • Page 6 Miscellaneous
    • 64 6 WEATHER: S WEATHER outlook for Singapore from 6 a. m. to noon today: Mainly fair REPORT for 24 hours prior to 7.30 pm on February 8 at the airport. Maximum Temperature 31.8° C Associated Humidity 65 Minimum Temperature 24.2° C Associated Humidity 96 Hours of Sunshine 9.60 Rainfall in Millimetres
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    • 236 6 TV SINGAPORE 5 PM Opening and Window (Chinese Repeat) B Diary of Events (Chinese) Eight Heroes of Shou Lin (Repeat) 0 Intermission Opening and Lassie Winged Attack 0 News in Brief 0 Warna-Warni (Malay Repeat) 0 7.05 The Muppet Show (Last Episode)* 7.30 News (Malay) 0 7.45 The Bionic Woman
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  • 960 7  -  With much firepower at their belts, American bankers are gunning for more business in Europe, particularly in London. The US banting majors, faced with semi-stagnation at home, are looking for overseas growth. The impact on the Eurodollar market has been significant. But the
    FT  -  960 words
  • 1093 7  -  »y NOORJAHAN KARIM AMONG the proposals being considered by one of the Asean Banking Council's permanent committees Is the possibility of tapping external sources to finance agriculture and agro-based industries. In particular, the Asian dollar market In Singapore is seen as a possible source of
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  • 683 7 SO YOU thought the energy and traffic congestion problems could both be solved In one fell swoop by us all getting on bicycles? Think again and look more closely at Japan a recent survey shows that there are so many bicycles around In Japan that they
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  • 1044 7  -  [FOBUM^feMJ I 1 ...on management •y HONG HAI Dr. Hong is a lecturer tn the Department of Business Administration, University of Singapore. IN ANCIENT times when assassinations were perpetrated with daggers, It was Important during meetings for the top man of an organisation to keep his rival
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  • Page 7 Advertisements
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  • Page 7 Miscellaneous
    • 63 7 BriStoW :?rankDid<enS fzpvo TUe FiSH** r ffi i suppose roc could F#4D F«utr urrw TOHBcr/s sua i* plagc IT UOOLD BeTHt CUISiHC. *T iStf'T fM4_ON£ HftD W0«E0... "Mfc fbRTcHS Ptf*£ RpiTMGR rnGßGfle... \m srptfvmG.' Ty*s fiSvMG VOORKS UP AM BPffeTiTC. a Bn£_/" rnd it Feexs like P> B(G ONG.. come
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  • INTERNATIONAL STOCK MARKETS
    • 527 8 TOKYO: Star* price* row In active trading on selective buying la speculative issue* yesterday dealers said. The Dew Jones average roee 13.31 to S, 144.63, with volume $390 million shares The New Index was 385.52, up 0.90. The firmness was largely aided by Increased buying from Institutional investors and
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    • 326 8 SYDNEY: The market closed mixed in moderate trading yesterday, dealers said. The Sydney All-ordinaries Index note 1.41 point to 468.28. BHP eased two cents to A 85.44 while the Baah of NSW shed four to 85.20. CB Co gained eight cents to 81.81 In large volume. ANZ, the National
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    • 171 8 MANILA: The market closed mixed yesterday with commercials posting slight gains while oils and minings continued to go down, dealers said. Turnover fell to 1.83 million pesos from Tuesday's 2.24 million pesos. San Miguel rose three points while other commercials remained steady. PMlra and LoP«to lost one point each
      171 words
    • 149 8 FEB M Bahts Ada Fibre 299 Bangkok Bank 41S 4-18 Bangkok Investment 422 -1 Bangkok Metropolitan Bank Bala Shoe 855 10 Berll Jucker 540 +1 Carpet International 446 unch Charoong Thai Wire 420 -1 Dutnex Duslt Thanl 390 +T Faber Merlin General Finance 468 +13 Indo-Thal Industrial Finance Corp
      149 words
    • 273 8 AMSTERDAM: Prices firmed in light trading on Tuesday, dealers said. Gains were led by transports, with Ommeren up 5 50 guilders, Nedlloyd 2.40. KLM 1.70 and KNSM 1.10. while ABN, VanDer Grin ten, Amfat and Ennia all rained over one guilder.Amro Bank and Robeco lost against the trend. State
      273 words
    • 153 8 BRUSSELS. Belgian share prices were mixed with a higher bias In moderate trading on Tuesday, bourse sources said. SocTia, Cometra, Sofiaa, Electrobel, Fiaoutremer and Arbod rose, while Ebeo, HainautSambre, Acac and St Roch fell. In foreign stocks. U.K. and French rose, Germans were steady, Dutch and Canadians were little
      153 words
    • 301 8 FRANKFURT: Prices were steady in a very quiet and thin trading session on Tuesday brought forward by one hour due to the Shrove Tuesday holiday, dealers said. In banks, BHF led up to 2.20 marks stronger, while both Mannearaann and BBC were up 2.50 in firmer steels and electrlcals.
      301 words
    • 339 8 PARIS: The market firmed on Tuesday helped by the franc's stronger performance on the foreign exchange market, dealers said. Banks, electrlcals and stores showed the most substantial gains. Elsewhere Saciler moved to limit up. The 4.5 per cent 1973 government bona lost fractions while foreign stocks were lower all
      339 words
    • 182 8 MILAN: Stocks showed widespread gains in fslrly active trading marked by strong demand on Tuesday, bourse sources aald. Saia Vlscoaa and Ll*«igaa Gromp shares led Industrials higher. Aaie also gained in chemicals while of the two Moatadiaoaa, the Montedison/ Gemlna share gained 5.6 per cent w lie the non-Oemlna
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    • 345 8 JOHANNESBURG. Gold shares were marginally higher on the day following slightly higher bullion Indications on Tuesday. dealers said. Trading was subdued with only selective overseas Interest, they added Financial minings were quietly mixed. Other metals and minerals were easier on balance in slack trading. The Industrial market was narrowly
      345 words
    • 80 8 ZURICH: Prices were Irregular with a predominance of losses on Tuesday dealers said Among banks, Cradit Suisse declined, and in the financial sector Forbo and PirWli were lower, while Elektro-Watt and latatfood gained. Some power station shares advanced, while among industrials Brown Boveri, Globus and Aluauiaae declined. In the
      80 words
    • 1419 8 February 7 TRADING on the Chicago Board Options Exchange, which opened one hour late, came to only 48,942 contracts compared with 66,887 contracts on Monday. Alcoa OPTION APL JLT OCT STOCK 40 15/8 UNTRD 31/8 301/4 Alcoa 45 5/10 UNTRD 13/8 303/4 Alcoa SO UNTRD NOL NOL
      1,419 words
    • 295 8 TORONTO: Share prices closed higher in busy trading on Tuesday with the Composite Index up more than three points and advances leading declines 187 to 160 Comiaco gained 5/8 to 27-3/8 on higher year earnings and Nowaoo Well Service put on 1/2 to 34-3/4 after raising Its dividend. «h«l
      295 words
    • 1227 8 NEW YORK: Stock prices rallied sharply across the board in moderate trading on Tuesday. boosting the D-J industrial average more than 10 points in another abbreviated session. Both the New York Stock Exchange and the American Stock Exchange opened one hour late at 1100 EST because of the
      1,227 words
    • 64 8 FINANCIAL TIMES INDUSTRIALS Tuesday 483.7 Monday 458.1 Week Ago 487.0 DOW JONES AVERAGE INDUSTRIALS Tuesday 778.85 Monday 788.62 Week Ago 769.92 LONDON DOLLAR PREMIUM Tuesday 76 U to 76*. Monday 77'* to 77*4 H.K. HANG SENG Tuesday closed Monday 411.88 Week Ago 405 32 SYDNEY INDUSTRIALS Tuesday 410 68
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    • 167 8 Reuter MANILA: Jardine Davies Inc. a subsidiary of Jardine Matheson and Co Ltd, is reorganising the holding of Its timber interests In Pagdanan Timber Products Inc, Its executive vice president, Nigel Rich, said. It Is transferring 40,000 class B common shares to Pedder Holdings SA of
      Reuter  -  167 words
    • 165 8 Reuter WUPPERTAL: The Dutch Akzo croup's plan to close one or its two nylon fibre works does not mean Its production capability in this field will be reduced, a spokesman for the group's German subsidiary Enka Ag said. Either the fibre plant In Emmen, Holland,
      Reuter  -  165 words
    • 133 8 Reuter LONDON: Alcan Aluminium (UK) Ltd said a major Investment programme for the modernisation and improved reliability of Its plants, particularly its seml-fabrlca-tlng plants. Is under way, with capital expenditure of £24 million forecast In 1978. The outlook for 1978 Is one of some recovery from
      Reuter  -  133 words
  • Page 8 Advertisements
    • 327 8 Slow boat tsj* <ggsiw7 Position. from CHINA TRADE QUARTERLY Far East Publications 1913, Hanglung Centre, Peterson Street, I Causeway Bey, Hong Kong. enter my full subscription to China Trade Quarterly. I am I enclosing a cheque/money order for US$2OO.OO or equivalent > in other currencies. I IPlease forward issue(s) of
      327 words

  • WHW QQGBm mm
    • 1485 9 NORTH AMERICAN COMPANIES NYT Washington Star WASHINGTON: Time, Inc., announced It would purchase the Washington Star for US$2O million. Acquisition of the Star, the only evening dally In the nation's capital, will place Time, Inc., In direct competition in Washington with another large communications
      NYT; Washington Star  -  1,485 words
    • 166 9 TEXAS Instruments Inc said profit from operations as a percentage of net sales came to 10.1 per cent in the fourth quarter, down from 10.8 per cent a year earlier. The company said the lower margins were caused by start-up costs for magnetic bubble components and other
      166 words
    • 275 9 ASIAN COMPANIES NISSAN Motor Co., maker of Datsun cars, will increase export prices of Its US models by two per cent on the average, retroactive to Feb 1 shipment, a company spokesman said. Although the spokesman had no comment on the margin of the retail
      275 words
    • 131 9 TORAY Industries, the largest synthetic fibre maker In Japan, announced It suffered a deficit of U5522,144 million in the— April-September period last year because of sagging demand and growing foreign competition as a result of the appreciation of the yen. This compared with a net profit of
      131 words
    • 88 9 HONOKONO: The Mass Transit Railway Corp said It has signed a US$4OO million 10-year loan facility at one per cent over London Interbank offered rates (Llbor) arranged by Manufacturers Hanover. The facility replaces a US$4OO million seven-year stand-by facility signed In 1975, with interest set at
      88 words
    • 1067 9 "IF THE United States sneezes," said Mr Louis von Planta, chairman of ClbaOeigy, the Swiss pharmaceutical giant, "We catch cold." An image was never more apt, not only for Clba-Qelgy the US accounts for a quarter of Its US$3.9 billion in annual sales
      1,067 words
    • 236 9 EUROPEAN COMPANIES Reuter MILAN: A decision on the future of the British Petroleum Co/ Anic SPA Joint We ics—in plant venture in Sordini* has been delayed until Mid-February bat senior company official* said they are peeaimietic for the firm's future. The synthetic protein plant,
      Reuter  -  236 words
    • 1028 9 VOLVO has run Into serious problems In trying to export Its Swedish formula to Holland. The announcement of a rescue package of nearly F15.200 million for Volvo Car BV ts a sad comment on its hopes of turning the former DAF Oar company into
      1,028 words
  • Page 9 Advertisements
    • 357 9 J, FROM FEDERAL PUBLICATIONS t V' I k V Nil it. i; I I v N\\ r s. i y ij S? •*4 S V V a step-by-step guide An easy to understand vet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations,
      357 words

  • DEALS DONE ON THE SES AND KLSE ON MONDAY
    • 1173 10 BID mmd otter price* officially lilted »d kulitu in ud reported U the Stock Exchange of Singapore yoaterday with the number of ■karoo traded shewn in bracket* in oU of 1,000 unit, ualeoa otherwise opecified. All ti~ Settliunt Contract* in auoted after the world "Sett". Big Board deals
      1,173 words
    • 110 10 4 3/4% 1/5/79 (250.000) (100.608 100.708) 7 1/4* 15/10/79 (250,000) (101.158 101.255) 4 3/4% 15/9/80 (250.000) (99.408) 5% T F 15/4/81 (250,000) (101.50B) 5% T F 15/10/81 (250,000) (101.45B) 5* T F 1/5/83 (250.000) (100.058 100.15S) 5 3/4% T F 15/6/81-84 250,000) (103 408) 7 1/4% 15/4/8S (250,000)
      110 words
    • 362 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 Storage (March 51.70) (0.2H8 0.35) (June 51.70) (0.328 0.305). C and C (March S2.M) (0.578 0.M8). (Juae 52.20)
      362 words
  • 151 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Miu|m' price* for Feb It) (Canal m rim) INCOME BOND 1.09 1.18 The Commerce... The Saving Fund IT) 1.18 1.12 1.19 MARA BUMIPUTRA FUND S pore Prog Fund 081 0.88 (Maaagm' prieaa roe Feb It'* S pore Security 181 1.71 First Bumlputra
    151 words
  • 320 10 HARRISONS and Crosfield has bought tlB million worth of shares In Harrisons Malaysian Estates, the biggest company In Its empire. The purchase brings H and C's direct holding up to 16.9 per cent while the total stake of H and C together with companies acting In
    320 words
  • 1002 10 BID and offer prices officially listed aad busiaess la and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lot* of 1,999 unit* unless otherwise specified. INDU9TRIAL9 A J la* mat* (1.1TB). Ataam (2.T18 5.735) (1) 2.79 (1)
    1,002 words
  • 2339 10 1977/1978 High Law Company Last Sale ♦erGr'a Div Div C*vr Gr'i Y'W Net P/E Vol C080) Day High Low l SECTION ONE INDUSTRIALS 154 280 119 248 88* 205 189 278 422 148 132 185 58 212 57* 155 144 182 350 91 Acma Alcom Allied Choc
    2,339 words
  • Page 10 Advertisements
    • 64 10 The Love of ne ooking N n-* f 4 >/< VI 1 i f K LO, mf Wtll-ffWWn u ninVM COOtVry •a i Q i v» a v s i i'.otl Kenneth Lo Ml V* Ow 100 drtolom ChIMN fc»w. Mly 4 lustratod with 00 colour tfaatettng the ■iwpWctlc booutyofVw
      64 words

  • COMPANY NEWS
    • 677 11 YEO Hlap Seng (Malaysia)'s very strong performance during the year ended Sept 30,1977 was achieved by a combination of higher sales volume, plants operating at higher capacities and more effective control over operating costs. All the companies in the group fared better during the
      677 words
    • 345 11 OROWTH at Kluang Rubber, one of the smaller rubber companies, has continued to show an upward trend for the year ended June 30, 1977. Pre-tax profit turned in for the year amounted to M 5540,758, an Increase of 34.7 per cent from last time. Previously, the
      345 words
    • COMPANY MEETING
    • 182 11 1 QmM Ks Data Date •arable Tatalfcr the rwr Total pmtoaa ya Southern Klata CwmKM) SNlkmMtlijfwTh 1 MdvOD MTC TnwM Parlia Plantation* C. Sacuritiaa Ayer M»M NOT D bruul OTP(ir» TIbm« PubUahlag YNH1M8N( M. Banking K.L. Keponc Alcorn 8han*ri-La inmc) 95*(C) 35* 3.5*1 12.5* 5*<b) 20* 23* 45*(n)
      182 words
    • 186 11 SCOTT English Ltd has appointed three general managers, Mr William Tay Liang Kee, Mr Alex Lee and Mr Henry Ng Puay Hee, to head the three main divisions of the group. Mr Tay has been appointed general manager of the Cummins Diesel sales and service division. This
      186 words
    • 299 11 MR KENNETH Eales, who stepped down as a director of Slme Darby In 1976 to help solve the group's boardroom problems, is to join Slme's executive board. After spending two years with the groups' overseas Interests, Mr Eales is to return to Kuala Lumpur
      299 words
    • 842 11 FOLEX Industries, the loss stricken textile cum knitting company, has turned In yet another set of depressing figures as a result of the generally depressed world textile market. For the year ended Aug. 31, 1977. Folex made another loss of M 13.27 million
      842 words
    • 401 11 IN A move to attain larger bumlputra participation In Its equity In line with the objectives of the new economic policy, United Asbestos Cement intends to offer a special rights Issue of 1.8 million ordinary shares to various bumlputra interests. An extraordinary
      401 words
    • 534 11  -  By MANO SABNANI IN THE eight years since it went public, earnings at Khong Ouan Flour Milling have fluctuated violently and it Is not about to get out of this trend in the current year. Based on the interim performance, it appears that
      534 words
  • Page 11 Advertisements
    • 383 11 111, II o o 1// THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For ing of civilization's great men. A conversawithin the GREAT BOOKS are volumes tion that has created the lasting institutions that hold the ideas and thinking that of our world today
      383 words

  • 438 12 Reuter THE JAPANESE car Industry yesterday refused to commit Itself to any form of self-restraint on shipments to Britain this year. 1 The tough Japanese attitude In two days of talks in Tokyo between Britain's Society of Motor Manufacturers and Traders 4SMMT)
    Reuter  -  438 words
  • 791 12 LQNDON. Wed. Stocks prices wye marked higher following Chancellor of Exchequer Dents fcfealey's statement that his spring budget will not be e4*etion-orlentated. Oovernment bonds finished as much as 1/4 point higher on the day though trading continued to be nervous on fears of a)oney supply growth Industrial leaders
    791 words
  • 132 12 Reuter JAPANESE bankruptices last month Ml to 1,141 from 1.862 la Doc—bar and from 1,286 ia January last year. The Tokyo Commerce and Industry Research Co, whose figures are used by the Bank of Japan ia its bankruptcy statistics, said debts involved ia January
    Reuter  -  132 words
  • 58 12 Reuter NEARLY 30 countries with duty-free Industrial zones for exports have agreed to share their expertise and exchange ldtas on Investment through the newlyformed World Export Processing Zone Association. At the end of a week-long conference In Manila, Mr. Teddoro Pena, chairman of the Philippine Export Processing
    Reuter  -  58 words
  • 191 12 AFP PRIVATE capital outflow last week from Australia of about US$72 million (S$ 167.76 million) lies behind the new Fraser government's assurances that "if necessary there will be more overseas borrowing to shore up the value of the Australian dollar". The new Treasurer. John Howard,
    AFP  -  191 words
  • 823 12 HARD BARGAINING OVER FEE Reuter VIETNAM is expected to allow most foreign airlines to use its air space at fournation talks in Vientiane today and tomorrow. Big savings in the airlines' operating costs will result from reopening of the "Amber One" air corridor running
    Reuter  -  823 words
  • 449 12 Reuter YEN DENOMINATED bonds floated In Japan by foreign issuers in the current fiscal year ending March 31, are certain to' total a record 20 issues worth 479 billion yen (554.65 billion), the Industrial Bank of Japan said. This represents an almost 700
    Reuter  -  449 words
  • 249 12 AP IMPORTED cars captured 20.6 per cent of the US passenger car market last month, a record for the month and the second best ever. Import sales shot up 14.3 pet cent to about 141,000 cars from year-ago levels, while domestic car sales fell 9.4
    AP  -  249 words
  • 79 12 AFP RICE crop should total a record 362 million tonnes in the 1977-78 season, the US Department of Agriculture estimates indicated. But trade In the commodity was expected to fall by one million tonnes, compared with the 1977 figure, to 8.2 million tonnes. China Is not included
    AFP  -  79 words
  • Page 12 Advertisements
    • 1 12 TcbJJ.Td:
      1 words
    • 180 12 rI I Till V/ The most comprehensive index and guide to the business scene. The Straits Times Directory of Singapore 1978 more popularly known as the'BukuMerah', carries more than 27,000 entries covering over categories of business. A thorough and efficient cross-reference system puts you in touch speedily with all the
      180 words