The Business Times, 13 February 1978
1978-02-13
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The Business Times
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Title Section11 1978-02-13 1 BUSINESS TIMES M.C.(P) No. 218/1/78 MONDAY, FEBRUARY 13, 1978 50 CENTS11 words
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BRIEFLY...
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Article60 1978-02-13 1 UPI TOKYO, Sun. Two leading Japanese synthetic fibre makers will start negotiations this week aimed at a production tie-up that will make them the country's top polyester and nylon manufacturer. Sources said the first round of talks will be held In Osaka on Wednesday between Shlnzo Oya, presidentUPI - 60 words
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Article56 1978-02-13 1 Reuter GENEVA, Sun. Representatives of major wheat-exporting and Importing countries begin a six-week meeting here tomorrow aimed at flying greater stability to world grain markets. The conference, sponsored by the United Nations, will try to produce a new International wheat arrangement in place of the 1071 agreement, dueReuter - 56 words
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Article43 1978-02-13 1 AP DACCA, Sun. Australia will provide a grant of A 59.65 million (Ss2s million) to Bangladesh to develop roads In the Chlttagong hill tracts, under an agreement signed here yesterday. Australia has so far given Bangladesh grants totalling AIB3 million. APAP - 43 words
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Article56 1978-02-13 1 AP ABU DHABI, Sun. Banks operating In the United Arab Emirates were today allowed to drop a mandatory deposit with the Federal Currency Board. The decrease, to help ease a liquidity crisis, allowed the banks to lower their reserve by half a per cent to 7 perAP - 56 words
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Article53 1978-02-13 1 Reuter NEW YORK, Sun. The Director General of Taiwan's Board of Foreign Trade said his country's special procurement mission had signed contracts in America for US$223 million (*****.9 million) so far In an effort to narrow Taiwan's trade surplus with the United States which reached $1.6 billionReuter - 53 words
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Article55 1978-02-13 1 Reuter WASHINGTON, Sun. The largest US trade delegation to visit Cuba since the recent partial thaw in relations between Washington and Havana will leave tomorrow. The East-West Trade Council said today the delegation will Include 100 people representing 70 companies and organisations, Including giants such as Levi StraussReuter - 55 words
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Article55 1978-02-13 1 AFP TEHERAN, Sun. Exports of Iranian crude and refined oil fell about 16 per cent In Januaryfrom December to 4.75 million barrels a day. The drop was attributed to the skimming off of stockpiles built last spring by international oil companies which had anticipated quicker Industrial recoveryAFP - 55 words
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Article52 1978-02-13 1 AFP SEOUL, Sun. South Korea plana to establish a consultative body with Aaean In an effort to promote bilateral economic and technical cooperation. Reports here said that Korean ambassadors accredited to the five Asean countries discussed the programme over the week-end presided by the Vice-Minister of ForeignAFP - 52 words
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Article43 1978-02-13 1 AFP SEOUL, Sun. A South Korean firm, Kookje Sangsa, plans to establish a Joint venture with two leading Thai business groups to build In Thailand a cement plant with an annual capacity of 1.5 million tonnes, Industry sources said today. AFP.AFP - 43 words
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Article45 1978-02-13 1 Reuter MALE, Maldives, Sun. The International Monetary Fund has fixed the representative exchange rate for the Maldivian rupee at 3.30 rupees to one US dollars, officials confirmed today. However, the free market rate is at present 8.8 rupees to the dollar. ReuterReuter - 45 words
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Article58 1978-02-13 1 Reuter WARSAW, Sun. Poland will soon try to cut the black market rate of the US dollar here by about half, and strengthen confidence In its own currency, Informed sources say. The reduction would be made possible by the authorities eliminating locally produced cars and alcohol fromReuter - 58 words
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Article39 1978-02-13 1 TEL AVIV Sun. Israel will lose up to US$3O million (about SJ7O million) of citrus exports if a one-third drop in sales caused by the European scare over poisoned oranges continued, a parliamentary economic committee said today.39 words
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Article112 1978-02-13 1 THE following list of stocks gives the 10 most traded in on the Stock Exchange of Singapore last week. It give* the turnover in thousands of units, prices on Friday and the high and low for 1977/78. Company y Tarawa 'OM r Prices Fab 10 Hick Law112 words
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LOCAL STOCK INDICES
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Article68 1978-02-13 1 BT Index: Industrials: Mt Mr Ml Ml Fab 18 V 544.47 307.81 rlnsod closed closed closed cloeed closed 548.84 288.71 429.09 178.89 196.89 142.83 433.83 237.98 234.85 ft Finance: Hotels: Properties: 429.18 178.83 188.92 rlnsorl closed rioeod closed rineod rineod closed cloeed cloeed t Tins: 141.98 closed closed rlnssd68 words
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Article76 1978-02-13 1 Ml Ml Ml Fekit tt BT Index: 786.35 closed closed closed 782.36 closed Industrials: mot closed closed closed e Finance: 374.47 closed closed closed 374.98 Hotels: 1M.44 closed closed eloeed 188.48 Properties: 158.26 closed closed cloeed 198.06 -t Tins: 196.08 cloeed cloeed cloeed 198.36 rubbers: 386.33 cloeed closed closed76 words
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Article, Illustration652 1978-02-13 1 SOH TIANG KENG - ONE UP ON ASIAN RIVALS By SOH TIANG KENG SINGAPORE'S inflation growth rate la among the lowest in the world, according to the latest figures from the International Monetary Fund. Based on the annual growth of consumer prices for last October, the Republic's Inflation652 words
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Article198 1978-02-13 1 AP OIL PRICES will be pegged at present levels by the producing countries for the whole of this year, and then they could rise by around 5 per cent. This Is the forecast made In the quarterly review of stockbrokers Phillips and Drew ofAP - 198 words
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497 1978-02-13 1 SUSAN BEVAN - *r SUSAN BEVAN NEWLY cash-rich Pahang Consolidated proposes to buy the 29.8 per cent stake in Tanjong Tin Dredging held by Its former associate Faber Merlin for M 52.000 million. Subject to approval by the Foreign Investment Committee, Pahang Cons will buy the 443,000497 words
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Article250 1978-02-13 1 LOAN demand a barometer of economic activity definitely picked up In Singapore last year, In line with the nation's recovery from recession. Last year, total loans extended by banks including bills financing amounted to $10.18 billion, a Jump of 14.5 per cent over 1976. This is higher250 words
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256 1978-02-13 1 THE long-drawn out discussions on Concorde overflights moved to a higher plane with the arrival in Kuala Lumpur over the weekend of the British Undersecretary of Trade, Mr George Rogers, who comes with proposals to soften the Malaysian attitude. Mr Rogers will256 words
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474 1978-02-13 1 HO KIN CHAI - ■y HO KIN CHAI in Kuala Lumpur GROSS exports of manufactured goods from Peninsular Malaysia Increased by 8.6 per cent in the third quarter of last year, compared with only 0.4 per cent In the previous quarter. The Increase was due to better overseas474 words
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Article126 1978-02-13 1 Reuter BRITAIN *nd other Western countries might be forced Into protectionist action against Japanese exports unless Japan reduces its massive trade surplus by one-third, a senior British minister said yesterday. Mr Edward Dell, Secretary of State for Trade, said the Japanese government had promised to reduceReuter - 126 words
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Page 1 Advertisements
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Advertisement24 1978-02-13 1 ijJESV Wiyfbong HsF Wavfoong Mortgage you need and Finance (Singapore) Limited It ITIOSt Shaw House. Ground Floor. 354 Orchard Road. Singapore 9. Tel: *****7.24 words
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Advertisement94 1978-02-13 1 Trust Sony for your video HAAffIC! With customary vision and foresight Sony pioneered video equipment. Today, Sony is one of the world's foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most advanced and sophisticated video components. DXC-1200P (Colour video camera) Ideal94 words
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Advertisement24 1978-02-13 1 FIATURI: A' Ub of kw« WHAT Uw MKMOPAD t CROSSWORDS X. AIRCRAFT SCHEDULE ft. WEATHSB ft. TV RADIO ft. LEISURE TIME ft. RRISTOW 7.24 words
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Advertisement129 1978-02-13 1 Albert Photo For the l)c>st in ;,Rociss>tvii' photographic ,mishi'v«^ s equipment JAL FLIGHT 712: THE TOKYO EXPRESS NEW YORK VANCOUVER *Bfe: ■jr^t i< I 'WSAN 1 FRANCISCO ISMGAPORE MEXICO CTTY Only on JAL can you non-stop to Tokyo, then make convenient connections to U.S. and Canada. 39 JAL flights depart129 words
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Article, Illustration1589 1978-02-13 2 MORRIS WILLATT, A.O. SULZBERGER - While experts struggle to preserve Pisa's major tourist attraction, the Leaning Tower of Pisa, Britain's bloody Tower of London prepares for its 900 th birthday. NORRIS WILLATT reports from Pisa on why the tower there cannot afford to lean any more, and A.O. SULZBERGER reports fromAP; NYT - 1,589 words
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Article, Illustration1013 1978-02-13 2 as engineers rack their brains to save the leaning tower FT IF THE Leaning Tower of Pisa didnt lean, people wouldn't go to see It. But there are degrees of leaning; and for some years now, experts have been worried that one day It may lean too far and toppleFT - 1,013 words
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Article256 1978-02-13 2 COURSES AND TALKS DATE8 TITLE LOCATION ORGANISER r»ll r 11 Feb 6—15 Material Store Accounting and Control Hotel Royal Ramada 1 m 6-17 LCA Module 11: Basic Industrial Pneumatics NPB Jurong Office NPB m« 6-17 IE Module I: Methods Study Hotel Royal Ramada NPB f A 6-29 S.D.256 words
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Page 2 Advertisements
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Advertisement23 1978-02-13 2 1 THE LEADMG MENSWEAR TAILORS A STORE 111 3 I I HIGH ST CENTRE •OCEAN BULDMG SUPREME HOUSE GOODWOOD, HtfON, RAFFLES HOTELS COLO23 words
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Page 2 Miscellaneous
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Miscellaneous639 1978-02-13 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 3 Initial dryness of the "froat" (5) 8 In an Inferior position at sea (5) 10 Heathenish cause of a pang (5) 11 Deprive Roy? (3) 12 Carlo's girl (5) 13 Lassie folldws Jack In the sky (3-4) 15 Near the end? (5) 18 Cut639 words
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OVERSEAS
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Article, Illustration897 1978-02-13 3 NYT UPI PKEBIDENT Carter, d£plte heavy pressure from Congress and the domestic industry to provide protection against US$3OO nflllion (***** million) a y*kr in imports of nuts and boks, came down on Friday lir-favour of free trade. surprise decision, made in the face ofNYT; UPI - 897 words
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WORLD IN BRIEF
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Article308 1978-02-13 3 Agencies PRESIDENT Carter declared a regional energy emergency In Ohio on Saturday as chances for a quick settlement of the coal-strike by the United Mine Union dwindled. He also ordered Energy Secretary James Schleslnger to get ready to Invoke emergency measures to I transfer electric powerAgencies - 308 words
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Article1547 1978-02-13 3 MOVE TO MATCH FOREIGN COMPETITION NYT AN AMBITIOUB plan to increase by four times the lending activity of the US Export-Import Bank has been proposed by the Garter Administration, at the very moment when the bank's past performance, and even Its basic mission, are beingNYT - 1,547 words
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824 1978-02-13 3 Reuter CENTRAL Bank governors from the world's leading Industrial countries will continue their discussions on the need for additional means to support the dollar when they meet at the Bank for International Settlements today and tomorrow. Informed sources In Zurich said thatReuter - 824 words
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567 1978-02-13 3 Reuter NORWAY'S 8 per cent devaluation within the European Joint float on Saturday will probably curb shortterm strains In the system but appears to pose a fresh threat to Its long-term stability. Foreign exchange dealers In Frankfurt said that the devaluation, the fourth SnakeReuter - 567 words
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Article176 1978-02-13 3 Reuter BRITIBH financial forecasters expect January UK trade figures due tomorrow to be back in surplus, after December's £80 million (8*360 million) deficit, and money supply figures (due on Thursday) to be still above the government's T.rr.—...... January visible trade to be in balance orReuter - 176 words
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Article395 1978-02-13 3 ENERGY consumption In OECD countries In the first three quarters of 1977 was 2.7 per cent above the same 1970 period. During the same period industrial production rose 4.5 per cent and gross domestic product by 4 per cent, so energy growth remained low in395 words
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Page 3 Advertisements
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Advertisement286 1978-02-13 3 jk An investment in home and land in Western Australia can reward you with safe profits. To All Australian Expatriates and Residents. Owning a Taylor Woodrow Home and Land in prestigious Perth, Western Australia, beachiide suburb, means you can profitably rent or lease your investment property while its resale value286 words
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Advertisement176 1978-02-13 3 The SGV Group Regional Conference Seriee The SGV Group, in to continuing effort to Mitt to clients in the piufsssiond development of their menegers, has dssigned the Regional Confaranea tsries. This aat of confaranaaa to ba held in Hong Kong, Indonesia. Maisyaie. Mnggw, and Thailand is eddressed to tha manager's176 words
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RAW MATERIALS
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Article186 1978-02-13 4 TERMINAL rubber In London last Friday held fully steady on weekend covering during a generally featureless afternoon. Oalns from Thursday night ranged from 0.70 to 0.45 pence per kilo. Turnover totalled 230 lots of 15 tonnes including seven call options plus five lots of five tonnes. The186 words
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Article173 1978-02-13 4 THE STRAITS tin price In Penang on Saturday fell Ms 3 to $1,718 per picul, on an official offering down 56 tonnes to 174 tonnes. In LONDON on Friday, tin lost £52 for cash and £20 for Three Months In both contracts. Values softened during the afternoon under173 words
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Article247 1978-02-13 4 In LONDON on Friday, pepper prices closed as follows: (Prices per long ton elf European ports unless otherwise indicated): Sarawak White FAQ: Spot CI.BBON. Afloat (per tonne) U553,125 sir, Jan/ Feb (per tonne) U553,125 sir. Sarawak Black Special: Spot C1.400N. Afloat (per tonne) U552,340 sir. Jan/ Feb (per247 words
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Article232 1978-02-13 4 SUGAR futures in London on Friday closed £0.20 to £0.75 up. Turnover totalled 3,054 lots Including 66 options. The opening was higher on trade buying and preweekend short-covering, dealers said. But the rise was considered a technical move after the recent decline and attracted little fresh followthrough Interest and232 words
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Article82 1978-02-13 4 C.I.F. US dollar* per ton LONDON: Friday Piwvtou* Malaysian 5% ffa bulk April Sumatra 5% f fa Feb March fiC June June/July Nigeria 5H f fa bulk ROTTERDAM: Sumatra Feb Zaire (Bel< franca per kilo) 493 sir 502 sir 540 sir 537 50 sir 535 slr/532 50 pd82 words
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Article488 1978-02-13 4 ROBUSTfutures In London last Friday closed officially about steady but £8 to £25 down from Thursday night after opening £3 higher to £10 per tonne lower. Volume totalled 1,713 lots including 18 options. Spot March closed £14 lower at £1,815 while May lost £21 at £1,640 after trading at488 words
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Article391 1978-02-13 4 TERMINAL cocoa In London steadied in late Friday afternoon on chart and weekend covering support and stoploss orders, but closed variously down from the day's newly established highs In belated hedging activity. Prices closed £19 up from Thursday night to £14 down. Turnover totalled 3,597 lots including 1,010 lots391 words
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Article640 1978-02-13 4 DESPITE the bearish Implications of the disappointing results of last week's IMF auction, the market was able to defend suprlslngly well the $175 per ounce level. It closed last Friday at $175/ 175.75 in Zurich with prices also well maintained in New York. The situation remained much the same640 words
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Article217 1978-02-13 4 SOYBEAN futures were back In a narrow price range in relatively light trading In Chicago on Friday and finished the session Vj cent a bushel higher to one cent lower. Prices firmed on local short-covering. Influenced by the large soybean sales reported by the Usda for the week ended217 words
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Article128 1978-02-13 4 WHEAT futures made minor gains in early trading and ranged two to W cents a bushel higher after the first hour in Chicago on Friday. Trading was confined to only a two-cent range in the thin dealings. The market derived support from a lack of selling and light commercial128 words
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Article276 1978-02-13 4 AFP ONLY a small reduction In the area sown to wheat is likely this year in the northern hemisphere compared with last year, although it is too early to forecast the size of the crop, the International Wheat Council said in its latest report In LondonAFP - 276 words
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Article224 1978-02-13 4 SILVER in London last Friday strengthened 3.5 pence to finish at 254.5/ 255.5 pence an ounce spot against Thursday's finish of 251/ 252 pence, dealers said. Three Months was at 258.5/ 259.5 pence against Thursday's 255/ 256 pence. Trading was moderate with the buying demand coming from New York,224 words
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Article68 1978-02-13 4 ZINC rose by £1 for cash and £2 for Three Months In London on Friday. The market was quiet after lunch under routine profit-taking which took Three Months down to £252 on the kerb. The mornlne pre-mar- ket found fresh buying support upto £257 for Three Months but profittaking68 words
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Article59 1978-02-13 4 LEAD in London last Friday rose by mostly £1.50 per tonne. The market slipped back during the afternoon under scattered profittaking and liquidation which took Three Months down to £317 on the kerb. The morning market advanced on nervous shortcovering up to £325 following the movement in copper but59 words
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MONEY AND EXCHANGE$
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Article181 1978-02-13 4 THE Singapore forex market was extremely quiet last week and experienced a lacklustre trading due to the Chinese New Year holidays when the US unit opened at 2.3280 and was traded downwards to 2.3265 mainly owing to lack of Interest In the currency. On the International currency markets.181 words
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Article49 1978-02-13 4 ACBC A Alfrntnt Bank 7 Citibank 1 Bangkok Bank y H8BC Bank ot America 7 Bank of China 1 Malayan Banking Mitaui Bank 7 Bank of Tokyo 7 Bank .Nogara OCBC sv, 7'-« OUB Chartarad Bank T'» UCB Chaae Manhattan UMBO T DBS 7'/, linn 149 words
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Article229 1978-02-13 4 Asian rates RATES held steady last week in thin trading, attributed to holidays In Singapore Bids appeared on Thursday from apparent rollovers, mostly by Japanese banks. ASIAN currency average depoalts rates for the wee* ended Feb 10 US6 (BM Prices) Law 7 day* 81V18 83/4 1 mill 7 87/8 2229 words
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Article308 1978-02-13 4 LAST Monday, In anticipation of rates firming before the long holidays, borrowing banks were keen to take whatever overnight money there was available In the morning. This led to a rise In rates from an opening qt 3* per cent to 0 per cent at noon. However it was308 words
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Article199 1978-02-13 4 THE dollar moved tower towards the close of Friday's trading in the face of small sales from New York ahead of today's U8 holiday, but conditions were very thin. The Swiss franc rose to around 1.8515 mid-point from 1.9575 at Midday and the mark moved higher to 2.1045/00 from199 words
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Article43 1978-02-13 4 FRANKFURT exchanges closing quotes, on Feb 10: US t. 107V53 Can 1 SMO/M 4 077/007 DPI 93 12/43 S Pr 107 0&/7S Ut 3436/445 P Pr 43.0/43.03 Yen 0 1720/30 B Pr (con) 0.419/430 B Pr (fin) 0 43/44 N Kr 41.00/1043 words
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Article694 1978-02-13 4 A NERVOUS exchange market witnessed sharp fluctuations of the French franc and a further strengthening of the Swiss franc last week. The dollar was slightly improving its position on the market but was weakening against the Swiss franc. The firmness of the dollar to certain degree may be due694 words
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Article160 1978-02-13 4 Euro rates LONDON Eurodollar deposit rates showed little change on Friday In small turnover reflecting lack of trading interest ahead of the long US weekend, dealers said. Weekend eased by 1/16 to 2-1/10, 1-15/16 during late trading while Tuesday/ Wednesday was unchanged at 6-7/8, 6-3/4. Among steady period deposit rates,160 words
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Article69 1978-02-13 4 THE local market for day-to-day funds was rather squarish last week. The rate for overnight funds firmed up 1/4 per cent by the weekend to close at 3 3/4 1/2 per cent. The terms market was 1 thin with rates firming up 91 1/1# per cent. The One,69 words
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Article49 1978-02-13 4 FOR the week ended Friday Feb. 10, the range of call rates received from Short Deposits (M) Berhad was as follows: BANK FUND 4% per cent to 5* per cent. GENERAL FUND 6 3* per cent to 5 per cent. Movements of fund totalled $339 million.49 words
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Article388 1978-02-13 4 THE dollar on Friday closed stronger against Che Scandinavian currencies, and particularly the Norwegian crown, In late trading following news the European Joint float countries had agreed to an 8 per cent devaluation of the Norwegian currency, dealers said. The crown fell to approximately 18 W cents from388 words
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Article370 1978-02-13 4 COPPER wlrebars In London on Friday rose £12 all round. The mrtket was well maintained during the afternoon on moderate preweekend covering prompted by the trend In US futures although values were shaded by profit-taking on the kert}. The morning pre-market firmed on commission house, chart and stoploss buying370 words
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Page 4 Advertisements
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Advertisement111 1978-02-13 4 o« e -g$OS«» study with W)lsev Hall OXFORD Institute of Administrative Management Institute of Bankers Inst of Chartered Secretaries Administrators Inst cf Statistic ans London Chamber of Commerce Industry HSC GCF A Level MCE SCGCE O Level London AEBGCE 'A O Levels Modern Mathematics *or Teachers Foulks Lvnch LONDON Ass111 words
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TRANSPORT
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Article676 1978-02-13 5 j FOR Wallem Shipping -(Singapore), incorporated in 1058, extending its specialised services In ship c broking and chartering -to include ship management last year was a natural development, In view of Its potential market „.here and In the Asean region. The new service appears676 words
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Article536 1978-02-13 5 Reuter EUROPE'S aircraft consor- tlum is hoping to break into or the lucrative United States *3 market, selling the Americans the A-300 widebodied airliner. Airbus Industrie, which groups the French and West ""German aircraft industries J, with British, Dutch and Spanish sub-contractors, Is negotiating aReuter - 536 words
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Article164 1978-02-13 5 AP AS GRAIN markets remained in the doldrums on Friday, iron ore trading rose to prominence In a flurry of fixing to Europe from Brazil and Africa. February loaders at Tubarao received U53.35 dollars (FIO) for a 70,000ton shipment to Antwerp, $2.95 (FIO) for a 75,000-ton shipmentAP - 164 words
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Article97 1978-02-13 5 THE Markland lock on the Ohio Rlvei* remains blocked by a gasoline barge tow, an army corps of engineers spokesman said in Chicago. The tow's two forward barges are frozen to the lock i and there Is still no estimate on how long It will take to97 words
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Article, Illustration223 1978-02-13 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Kingfisher (1300) Bunga Blndang (0530 after Kalimantan Ibu) 19. So?3.VUJ.<B. Ik*, Holly (SMVI) <0530 Uttt Nedlloyd Fremantle sails and Ru Yung.) (Departure draft 5.75 m) 10/11. Maxim Gorky (0700) 45. Nedlloyd Fremantle (0530 hauls 13m East) co s P ,m (Tanker) (0530223 words
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Article218 1978-02-13 5 AFP THE world's only working nuclear-powered freighter, the West German "Otto Hahn," any be laid up 10 yaars after it was launched, it was announced in Bonn. The M needs »i»»iig«i»g for the third time at a coot of 55 million marks (8500 million)AFP - 218 words
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Article104 1978-02-13 5 PMAC MedanJB run THE Pan Malaysian Air Carrter (PMAC) will begin Its regular air service between Joh ore Bharu and Med&n In Indonesia on Friday PMAC chairman Plaruddln Fat hod In said in Kuala Lumpur. He said the flights, via Malacca, would be on Saturdays and Sundays. PMAC will also104 words
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Article91 1978-02-13 5 THE new harbour of Tientsin, is now using solar cells in all its lighthouses and buoys, the New China News Agency reported. This saves the trouble of regular replacement as in the case of conventional cells which are commonly used In China, NCNA said Several local91 words
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Article, Illustration425 1978-02-13 5 GOH ENG KEE - By GOH ENG KEE DESPITE a rather bleak outlook for the tanker market, Indian-born shipowner Mr. Ravi Tikkoo has renewed his UStl billion (552.32 billion) letter of Intent at the US Newport News shipyard for three nuclear powered 900,000 dwt tankers. This latest move by425 words
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Article229 1978-02-13 5 AP CONTRACTS in January for export ships by Japanese shipyards sharply dropped from a year ago, the Japan Ship Exporters Association (JSEA) said in Tokyo on Friday. JSEA said orders received in January involved 20 vessels totalling 153,800 gross tonnes, valued at 45,949 million yenAP - 229 words
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296 1978-02-13 5 FT BRITISH Airways is to cut its programme of charter flights from Heathrow this summer, because It would be unprofitable to transfer them to Oatwlck under new government regulations effective from April 1. From that date, the Civil Aviation Authority, acting under governmentFT - 296 words
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Article753 1978-02-13 5 ARRIVALS Barrio* Loca I Operator N*mber Tin Ft— SAS SK097 0650 CPH/THR/BKK MAS MHS01 0715 KUL MAS MH682 0810 KCH SLA SQ101 0615 KUL MAS MH621 0835 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL OLA OA 980 1030 HLP CPA CX710 1035 HLP THAI T0423753 words
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Page 5 Advertisements
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Advertisement133 1978-02-13 5 m uS or V° ur local or -m onward reservations Rent-a-Car SINGAPORE AIRPORT X —'~V> TEL *****5* CITY TEL 23SS8S5 vr A luxurious and comfortable split-level Largest Hilltop Garden House in Thomson area GOLDEN HILL PHASES£Oj««E»j t' I* "J- X HILL TOP 2 STOREY SPLIT LEVEL ISEMI DETACHED bungalow r«133 words
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REVIEWS
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Article, Illustration107 1978-02-13 6 THERE is still one more day today to see the National Theatre Trust presentation of The Greatest Show am Ice, by the National lee Revue of Poland, at the National Theatre, 7pm and 9.30pm tonight. The 100strong ice revue team consists of young and talented professional skaters with an107 words
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Article110 1978-02-13 6 PARENTS may be Interested In entering their children for a series of eight weekly pre-achool programme* In English for children from four to six years old to be conducted by the children's section of the Toa Payoh Branch Library on Thursdays at 3pm, from March 2 to April110 words
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Article159 1978-02-13 6 THE French Embassy and Alliance Francalae will present "Le Train" at the REi£ building, Orange Grove Road, tomorrow at 9pm. As usual, the fllmshow is open free to all, and there will be English subtitles. "Le Train" (colour) was made In 1073, directed by Pierre Oranler-Deferre and starring Romy159 words
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Article60 1978-02-13 6 SHAKESPEARE-BUFFS and students should be interested in a lecture on "Language in Hamlet" to be delivered tonight at 7.30 pm by Mr. John Drakakls, University of Stirling, Scotland. The lecture, organised by the University of Singapore's Department of English Language and Literature will be given at New Lecture Theatre60 words
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Article61 1978-02-13 6 THE Ministry of Culture announces the opening at the Victoria Memorial Hall of a travelling photo exhibition, Lifc Asian People" on Friday Feb 17, after which the exhibition will be open Feb 18 to 24, from 10 am 6 pm, free admission. The exhibition will feature 6 P 461 words
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Article1128 1978-02-13 6 HAROLD SCHONBERG - }L OU 5f Ban be conductor of New York Philharmonic for a day. Just US$2,OOO (8*4,600) upward* to you, at a classy musical auction taking place in New York this month. Singapore's orchestras are often to be found scratching their heads for ideas on how to raiseNYT - 1,128 words
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Article97 1978-02-13 6 THE UNITED World College of Southeast Asia will open its seventh Festival of the Arts on Saturday, Feb 18, with Acting Minister for Culture, Mr. Ong Teng Cheong, as guest of honour. The Festival continues until Feb 25 inclusive. The programme for Saturday Feb 18 and97 words
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Article45 1978-02-13 6 CHINESE instrumental music, choir singing, dances and comic sketches will be staged by the Adult and Young People's Section of the Toa Payoh Branch Library on Friday Feb 17, at 7.30pm in the Library's Lecture Hall. Admission is free and all are welcome.45 words
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Article319 1978-02-13 6 MRS. SALLY Tunnicliffe, the Singapore representative for a London theatre company, MITE, reports that her drive to premiere a UK musical about Singapore's founder, Sir Stamford Raffles (see Business Times, Nov 14, 1977, p. 2) right here in Singapore, looks as though it will bear fruit before319 words
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Article100 1978-02-13 6 THE National Archives and Records Centre has recently issued two publications which should prove eeeential reference tools for researchers and students Inventory of Photographs N0.3, Churches, and Qulde to Private Records on Microfilm N0.3, Chinese Associations. The photo inventory lists photos of 117 churches in 16 denominations, with100 words
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Article, Illustration755 1978-02-13 6 JOSEPH PETERS - The Singapore music scene is unfortunately simmering with rivalry, jealousy and controversy just under the surface. JOSEPH PETERS, administrative assistant at the University of Singapore's Department of Music, here offers an alternative view of the Singapore Philharmonic Orchestra (see Ilsa Sharp's review, this page, Monday Feb755 words
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Article836 1978-02-13 7 Kays of Hope, Hm Transition to i PoetPetroleum World, Deals Hayes, (Worldwatch Institute) W.W. Norton and Company, Now York, 1t77 (Copies available soon from Select Books. 314-15 Taaglin Shopping Centre) Reviewed by John Taa IT IS difficult to imagine a less exciting topic. Oil, sunshine, nuclear836 words
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Article499 1978-02-13 7 Rice in Malays A study la Historical Geography, R.D. Hill, Oxford University Press, Koala Lumpur Malaysia, Mf«o Reviewed by Elaine Fonseks THE AUTHOR, lecturer In the Department of Geography and Geology, University of Hongkong, is an established authority on the subject of rice. Here499 words
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Article, Illustration1013 1978-02-13 7 BERNADINE MORRIS - Br BERNADINE MORRIS NYT WHEN It comes to deciding what they themselves will wear, women fashion designers have much the same problem as the rest of us. They often face a closet full of clothes and nothing to wear. Of course, because of their trade,NYT - 1,013 words
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Article, Illustration568 1978-02-13 7 GREGORY JENSEN - h GREGORY JENSEN UPI ON ONE TABLE stood the last supper carved In salt. Nearby was chief sitting bull in brown and white chocolate. Half of one wall was filled with a three-panel mosaic six metres long made of tiny squares of lightUPI - 568 words
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Page 6 Advertisements
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Advertisement714 1978-02-13 6 SB6 Orchard Road, S'pore 9. Tel: *****2 408/407 Havelock Road, S'pore 2. Tel: 422M1 Mlbßar Experience the unique expression of Tanla Great Sound Big Show ■You'll love the dynamic and versatile Tanla For memorable yester hits and today's favourites. Only happens at the Pebble Bar Dally (except Sunday) open till714 words
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Page 6 Miscellaneous
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Miscellaneous61 1978-02-13 6 WEATHER outlook for Singapore from 6 a.m. to noon today: no rain. REPORT for 24 hours prior to 7.30 pm on February 12 at the airport. Maximum Temperature 31.G C Associated Humidity 62 Minimum Temperature 23.2° C Associated Humidity 96 Hours of Sunshine 7.70 Rainfall in Millimetres Nil Total Rainfall61 words
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Miscellaneous274 1978-02-13 6 TV RADIO SINGAPORE 5 3.00 PM Opening announcements followed by Nalla Illam (TamilRfpfdt) e 3.35 Diary Of Events (Tamil) 3.40 Afternoon Matinee Panama Hattie (pt. 1) Starring: Ann Sothern, Marsha Hunt, Red Skelton, Lena Home 4.25 Intermission 6.05 Opening announcements followed by Land Of The Lost 6.30 News iri Brief274 words
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Page 7 Advertisements
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Advertisement437 1978-02-13 7 mci Sco ac< liNOtronc Tanglin Circus, S'pore 10. Tel: *****1 Marco Polo Restaurant The Executive's Business Luncheon a four-course meal of haute cuisine, Inclusive of a glass of wine and coffee/tea Marco Polo Restaurant $17.00 10% service charge 3% government tax Car valets in attendance HOTEL HOTEL ROYAL-RAMADA Newton Road,437 words
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Page 7 Miscellaneous
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Miscellaneous36 1978-02-13 7 MiiiiM .YHI i-tt 1' BnStoW: FVaztfc Dickers TpKe IT G STP*OS GftfcFGe, S STPiWDS FOR SHQfe CLEAHmG, L »S For LAUNDRY AMD N ft* NeuiSPftf^RS IBSB3fß3ail i^ri HOLD ON— UoH^T'S THIS STPGGe«JNG iSorn prr the €no36 words
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MARKET REVIEWS
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773 1978-02-13 8 GOH HIANG FONG - SINGAPORE •r GOH HIANG FONG THE Year of the Horse opened on a mildly bullish note on the Stock Exchange of Singapore last week. Attention was focused mainly on the better quality "first section industrial jhares, the bulk of which ended up773 words
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454 1978-02-13 8 OTHERS Alumfnlum Company of Malaysia, responding to quelle# from the Kuala Lumpur Stock. Exchange, indicated that It is confident that 1U second application for an increase In selling price will be approved and that it also anticipates better earnings for Its current454 words
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Article314 1978-02-13 8 Reuter THE market closed the wpok on u mitniy note after good risoo in both the leaden mad the second Dam had taken meet tectore af the market lata kighsr ground, dealera said. thrice* were mixed at the eloee with Thursday's trade figuree forcing the peeeialeti to recoaalder projoctionsReuter - 314 words
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Article216 1978-02-13 8 FOLLOWING tIM trend of previous weeks, prices advanced at a rapid tempo which slowed down towards the end of the week. The market opened bullish, centring on the purchase of government expenditure mated stocks and blue chips by institutional domestic investors and foreigners. With the release of the Nikkei216 words
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984 1978-02-13 8 GERALD COLVIRD - LONDON •y GERALD COLVIRD THE structure of anticipation is invariably founded on the ability to survive surprises. The London market Is not so structured and, consequently, never ceases to be caught on the wrong foot by the unexpected. The most Important political event In984 words
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Article784 1978-02-13 8 NEW YORK NYT NEW YORK: Stock prices staged a modest advance last week, buoyed by generally favourable earnings reports and by hopes of a senate compromise on the thorny Issue of natural gas pricing. Instead of a compromise, however, the Senate by week's end produced aNYT - 784 words
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Article897 1978-02-13 8 KUALA LUMPUR THE year had an uncertain start on the Kuala Lumpur Stock Exchange. After a fairly strong sendoff for the old year on the half day's trading on Monday, the market re-opened on Friday on a rather erratic note. Prices of selectively traded897 words
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Page 8 Advertisements
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Advertisement288 1978-02-13 8 The Business Times of Malaysia and Development Bank of Malaysia Asean-West Asia Investment Conference Kuala Lumpur, Malaysia, 9-10 March 1978 Asean resources and manpower, West Asian finance and the technology and expertise of the industrialised countries can be harnessed for mutual benefit. The Asean-West Asia Investment Conference in Kuala Lumpur288 words
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INTERNATIONAL STOCK MARKETS
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Article270 1978-02-13 9 AMSTERDAM: Share prices ckMed narrowly mixed In quiet trading with Dutch internationals mainly unchanged on Friday, dealers said. Akaa edged 0.10 guilders higher and Philips 0.10 lower, while other Dutch Internationals were unchanged. In the rest of the market KNSM firmed 7.50 guilders, while Fetter closed 4.50 guilders higher.270 words
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Article131 1978-02-13 9 MILAN: Prices closed around the day's highest levels In active trading on Friday, dealers said. Snia Viacoaa and both Pirelli* led Industrials higher. Banks, Insurances were higher and Site was unchanged in steady financial*. j Bonds continued quietly steady. FEB Lire Anic 126.75 +0.75 Assoc Gen ***** +420 Bastogl131 words
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Article157 1978-02-13 9 BRUSSELS: Belgian shares were mixed with a majority higher in quiet trading on Friday, bourse sources said. Reserve, Asturieaae, Hofcokea. Wagoat-Lits. Gevaert, UCB, Tetseadertoo and CBR rose, while Cobepa, ElectroM. Ebes, St Rock and Ceoetra fell. In foreign stocks, UK, Dutch and Canadians were little changed, Oermans rose while157 words
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Article328 1978-02-13 9 FRANKFURT: Share prices were firmer on Friday with trading picking up on foreign Interest after a dullish start, dealers said. Motors drew the most Interest. led by BMW rising 6.90 marks. Mechanicals, steels, electrlcals and banks also gained. Public utilities and papers advanced. Conti Oumml rose 2.20 marks. Bonds328 words
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Article320 1978-02-13 9 PARIS: The market was mainly lower on Friday because of the franc's weakness, dealers said Pegueot Citroen rose but Fermio. CGE, and LMT felt. Chemicals and banks were mixed. US stocks followed Wall Street lower. German*, foreign oils and golds were steady. FEB M Frs CORBEILLE Alr-Liquide 238 B320 words
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Article361 1978-02-13 9 JOHANNESBURG: Odd shares were slightly harder on Friday following higher bullion Indications. dealers said. Trading activity was very quiet and moet shares eased a shade off the top towards cloee ahead of the weekend. Financial minings were easier where changed In light trading. Other metals and mineral shares eased361 words
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Article290 1978-02-13 9 ZURICH: Prices were firmer in active turnover on stronger demand on Friday following the continued decline In interest rates, dealers said. Banks were steady, while among flnanclals laterfced continued IU rise, and Sckiadkr was also In demand. Insurances were steady, while among Industrials Nestle bearer and Clfce-Gslgy were the290 words
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Article328 1978-02-13 9 TORONTO: The market rallied in afternoon trading to close with a moderate gain on Friday. The Composite Index rose 2.3 points and advances led declines 201 to 177. Aadrse Wines, which reported higher earnings and a dividend increase, row to UH. The gold index rose almost 34 points, with328 words
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Article1296 1978-02-13 9 NEW YORK: The (Lock market dipped moderately on Friday, reflecting worries about Inflation and renewed weakness of the dollar in overseas exchange markets An afternoon recovery move, lifting the D J industrial average briefly into plus territory faded In the final hour. Analysts said traders became cautious in1,296 words
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Article62 1978-02-13 9 FINANCIAL TIMES INDUSTRIALS Fpday <71.0 Thursday 473.1 WMk Ago 4M.7 DOW JONES AVERAGE INDUSTRIALS Friday .776.90 Thursday .777.il Week Afo .776.96 LONDON DOLLAR PREMIUM Friday 77* to 76 Thursday 77* to 7» H.K. HANG 8CNG Friday 410.33 Thursday Closed Week Ago ***** SYDNEY INDUSTRIALS Friday 41*. 16 Thursday 41*4362 words
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Article151 1978-02-13 9 Reuter SEARS Holding* said Improved trading conditions In the second half have led to a continuation of the first half's Increase In turnover when sales roee to £451 million from £370 million. In the prospectus for Sears' planned £15 million bond Issue, the companyReuter - 151 words
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Article70 1978-02-13 9 CHEMICAL New York Corporation Is declaring the regular quarterly dividends on the corporation's common stock and on its convertible preferred stock. The common stock dividend of US7S cents _per share is payable April l, 1978, to stockholders of record on March 15, 1878. The dividend of 48.875 cents70 words
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Article60 1978-02-13 9 LONDON: The ABl5 million 10 Vb per cent Eurobond tftsue by Citicorp Overseas Finance Corp NV has been priced at par, First Boston (Europe) Ltd said as joint lead manager. The Issue matures in 1983, with the option of extending to 1988, and subscribers may pay In- US60 words
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Page 9 Advertisements
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Advertisement264 1978-02-13 9 4 A m 3P» w #1 m VV* JJ\ a* 5f E 70® SS 9 i w V--1 I w a 7 1 I'll* ii •5 !'i .M! nil l m I 3 I /> i w V£ a 'A v> m v iV ***r. ■t'S £COlO< '^AN Vno tpA264 words
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COMPANY NEWS
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482 1978-02-13 10 GOH HIAN6 FONG - What the brokers say... ■y GOH HIAN6 FONG THE Straits Times Indastrlal Index closed at 268.71 last week, the highest point since October 1976. This market Indicator has been the focus of attention with chart analysts James Cowan Associates (JCA) for some time now.482 words
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612 1978-02-13 10 CHEMICAL Company of Malaysia, which suffered another profit setback in the last financial year, will be hard put to maintain its fertiliser profits In the current year, said chairman Mr S.A. Rldgewell at the company's sixteenth annual general meeting recently. This is because CCM612 words
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Article193 1978-02-13 10 Current Ex Date Total for Total for payment Date payable the year previous year Southern Kinta Couo<N) 150%(C) Jan 10 Feb 15 150% Sou then Malay an Tin 95H(C) Dred«in«(M) Jan 10 Feb 15 95% MTC 35% Jan 1 Feb 16 50% SOS Temerloh 3. SHI Feb 1193 words
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Article2425 1978-02-13 10 im/im Hick Lew riMiinj LaK tele Weak ♦a*tV« Dto Dfe CS» Gr*s Nat Weak YH P/E Vat (*689) 1 Weak 1 Law I SECTION ONB INDUSTRIALS 154 200 U» 246 n* 205 160 278 422 146 132 165 58 212 57* 155 144 182 350 91 Ac2,425 words
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Article1256 1978-02-13 10 February 10 On the Chicago Board Options Exchange, a total of 84,160 contract* was traded compared with 01,721 on Thursday. OPTION APL JLY OCT STOCK Ak« Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Aeon Avon-P Aeon Avon-P A ron A*on-P Bank Am1,256 words
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Page 10 Advertisements
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Advertisement25 1978-02-13 10 The Love of nese ooking wm t" 9* *>« Jnf r'/ V$ I a m K V s *n* a xx U rr» sitins Kenneth Lo25 words
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MONDAY SPORTS
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Article, Illustration673 1978-02-13 11 ERNEST FRIDA - By ERNEST FRIDA AFTER three years of frustration on the local golf circuit, Poh Eng Soon won his first competition the $5,000 Keppel Open championship at Buklt Chermln yesterday. Eng Soon beat his young brother Eng Chong and Llm Swee Wah by two strokes673 words
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Article1010 1978-02-13 11 The Observer LONDON: Sadly, there seems no way In which English racing can benefit from the example of Sha Tin, the admirable Hongkong racecourse due to open on October 7. One reason is that the project relied on full co-operation between the local government andThe Observer - 1,010 words
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Article, Illustration72 1978-02-13 11 WITHIN the last few yeart the Carpathian Mountain* have won the recognition at mountain ikki. Wooderftal —*t"th weather, light froets, abundance of mow and a Biding Mason which lasts from November to April this place an ideal apot for siding. Numerous alopee of various skiing difficulties found72 words
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1038 1978-02-13 11 NYT RED BANK, N.J.: One of the first lessons you are taught when you take up the speedy, somewhat dangerous sport of lceboatlng Is to watch out for the Christmas trees. For Christmas trees, standing upright on frozen water, mark thin ice,NYT - 1,038 words
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Article, Illustration827 1978-02-13 11 The Observer SYDNEY: Diplomacy has not been World Series Cricket's strong suit In its short turbulent life. The children of a shotgun marriage. Some personalities among the 110strong troupe of players, officials and TV executives who have hitched themselves toThe Observer - 827 words
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Page 11 Advertisements
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Advertisement268 1978-02-13 11 m, m 5* T J 41 F 4. ittw is&i t i id -<* V ■V, The three bosk needs and the three ports of Britannia} 3 understanding, insight, and wisdom in every field of learning. Written by experts, approved by experts, but not written for experts. It is aimed268 words
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Article308 1978-02-13 12 Reuter THE OUTLOOK for the Australian dollar remains uncertain, despite recent government statements of support and a resumption of private capital Inflows last month. Banking sources in Melbourne and Sydney said the January balance of payments figures suggest that government's hopes for trade andReuter - 308 words
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Article103 1978-02-13 12 A TEAM representing leading UK suppliers of health care equipment has arrived in Singapore to promote the latest in medical equipment from Britain. The British Health-Care Export Council's trade mission will be meeting representatives of the Ministry of Health, private hospitals and clinics during their103 words
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Article, Illustration728 1978-02-13 12 FRASER DAMPENS EXPECTATIONS AUSTRALIA'S restrictive trade policies which have dammed an increased flow of goods from South-east Asia are not going to be lifted despite pressure from leaders of Asean, Prime Minister Malcolm Fraser made plain yesterday. The Australian leader met the Issue728 words
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Article616 1978-02-13 12 TSANG SAU YIN - By TSANG SAU YIN IT SHOULD still be possible for the gold market to make progress, albeit at a slower pace, than at any time since the second half of 1976, predict New Court Merchant Bankers in their recent newsletter. For the period under review,616 words
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304 1978-02-13 12 UNITED States Treasury Secretary, Michael Blumenthal, will attempt to resolve differences within the Western alliance over economic policy at unannounced talks with European and Japanese finance ministers in Paris over the weekend. The Secretary, accompanied by the outgoing chairman of the Federal Reserve304 words
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241 1978-02-13 12 SIVA ARASU - •y SIVA ARASU THE MAIN obetade to lacreased trade aad economic relations between Singapore and Yugoslavia is mutual ignorance because of inadequate information oa the —whs of botb countries. This is natural in view of tbo physical distance "But we bepe to increase sucb241 words
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815 1978-02-13 12 SUSAN SEVAN - ly SUSAN SEVAN WHAT seems certain to be the biggest ever issue on the Malaysian market Is that proposed by Dato Lee Loy Seng's Plantation Group, Kuala Lumpur Kepong, in the form of a special issue to Bumlputra Investors of 15 million new shares815 words
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Article234 1978-02-13 12 THE LABOUR Ministry has announced that It will shortly be issuing guidelines to doctors regarding loss of earnings resulting from partial loss of function of limbs from industrial accidents. Such guidelines, It said, have not existed before and this omission has resulted in cases under dispute234 words
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Page 12 Advertisements
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Advertisement38 1978-02-13 12 TODAY Lunch at OKOH OF GINZA (Raffles Quay i I JbUL 9 Fantastic Teppan Yakt Steaks! and only Robata Yaki counter m towni Come Get i* l Q i L' (w) f> 9 OKOH OF GINZA ipvinese Kesta-.38 words
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Advertisement1037 1978-02-13 12 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 interviewed in Peking,1,037 words
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