The Business Times, 18 March 1978

Microfilm: NL9627
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 SATURDAY, MARCH 18, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Lock icon Dollar plunges . ..
      50 1 Dollar plunges AFP LONDON, Frl. The US dollar plunged below the 230 yen level for the first time today, touching 229.80 before recovering slightly as a result of central bank intervention. Dealers here said confidence in the dollar appeared to be at a "low ebb" on all European markets. AFP
      AFP  -  50 words
    • Article
      Lock icon Malaysian outlook
      72 1 AP KUALA LUMPUR, Fri. The outlook for the Malaysian economy this year continues to be favourable with the real gross national product anticipated to rise by about 6.8 per cent. According to a booklet on "The Malaysian Economy Performance and Prospects" distributed by the central bank to delegates
      AP  -  72 words
    • Article
      Lock icon Tanker splits
      49 1 AP. BREST Fri. The 233.000-tonne supertanker Amco Cadiz, broke apart this morning 5 km off the Brittany coast, less than 12 hours after running aground while fully loaded. Several kilometres of beach were covered with a brownish film with the main wave of pollution expected later. AP.
      AP.  -  49 words
    • Article
      Lock icon Swiss private rate
      48 1 Reuter. BASLE, Fri. The Swiss private bank rate used to discount first-class bills and acceptances, was cut to 3.25 per cent from 3.75 per cent with effect from Monday, the Swiss Bankers' Association said. The official bank rate remains unchanged at one per cent. Reuter.
      Reuter.  -  48 words
    • Article
      Lock icon New order
      52 1 UPI. BANGKOK. Fri. The United Nations Escap conference today ended 10 days of debate agreeing to attain development needs in Asia and the Pacific through "a new international economic order." The 34th annual meeting passed a unanimous resolution calling for the early eastablishment of a new international economic
      UPI.  -  52 words
    • Article
      Lock icon Inflation low
      47 1 AP LONDON, Fri. British inflation fell to an annual rate of 9.5 per cent in February, the lowest since September 1973. The government announced it was the eighth successive month that the cost of living went down, having stood at 17.7 per cent last June.
      AP  -  47 words
    • Article
      Lock icon Little headway
      56 1 AP. TOKYO, Fri. Sir Roy Denman, head of the EEC trade delegation, said today his group ha& made little progress in three days of negotiations with Japan. "We haven't as yet found any political willingness on the part of the Japanese government to grapple with the trade and
      AP.  -  56 words
    • Article
      Lock icon Zambia devalues
      60 1 UPI LUSAKA, Fri. Zambian Minister of Finance, John Mwanakatwe, today announced a 10 per cent devaluation of the Zambian kwacha and said the International Monetary Fund had agreed to loan Zambia about US$39O-million (SsB97 million), available in June. Earlier today Zambia ordered the suspension of foreign exchange transactions
      UPI  -  60 words
    • Article
      Lock icon Dow Jones
      56 1 UPI NEW YORK, Fri. The stock market was firm in fairly active trading early today. The Dow Jones Industrial average added another 1.82 points to the 4.24 it gained in the preceding session and stood at 764.64 shortly before 11 a.m. Of the 1,375 issues, 651 advanced and
      UPI  -  56 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      130 1 Rises Cons Plant 575 +60 Sime Darby 390 28 M Flour 352 18 G E Life 970 15 Riverview 165 15 St Steamship 249 14 High Low 261 13 MalakofT 248 13 Ltd Malacca 310 12 Sin Chew 223 12 OCBC 590 10 Dunlop Est 324 10
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    • Article, Illustration
      In Kuala Lumpur
      185 1 Rises Cons Plant 5.80 +0.50 Chersonese 2.80 +0.35 Slme Darby 4 06 +0.24 Castlefleld 8 20 +0.20 Mln Sec 2.66 +0.18 Malakoff 2 48 +0.15 M. Flour 3.58 +0.14 HI Low 2.66 +0.13 Utd Malacca 3.44 +0.12 Dunlop Est 3 32 +0.10 E A I 1.95 +0
      185 words
  • Article
    Colour TV plant a regional first
    880 1  -  $50m BOOST FOR JURONG By RONNIE LIM THE GIANT Hitachi group of Japan is to invest $50 million on what will be the Republic's and also the region's first colour television picture tube plant. Two teams from Hitachi were in the Republic in the
    880 words
  • Article
    Floating rate CD from UOB
    273 1 UNITED Overseas Bank yesterday announced a tranche issue of US$l5 n*iitt9tt_aegotiable- n«ating rate certificates of deposit (FRCD), making it the first local bank to raise funds through the use of this instrument. To mature in three years, the issue will be in denomination of US$5O,OOO
    273 words
  • Article
    Hope lies with optimists in business world
    757 1 THE FREE world economy has run into difficulties largely because with success, the free-enter-prisers had departed from two basic principles of that system confidence in its future and a readiness to take calculated risks on new ventures, said Mr. S. Rajaratnam, Minister for
    757 words
  • Article
    Bold action now?
    88 1 JAPAN may have to take unilateral action to curb exports later this year If there is still no clear sign of a turnround in its huge current account balance of payments surplus, senior government officials said yesterday in Tokyo. The officials also said Japan would like to
    88 words
  • Article
    Sime leads the market to new high ground
    463 1 SIME DARBY was the darling of the Singapore stock exchance yesterday. The package of good news including bonus issues, higher dividends, and increased profits that the group produced after the previous day's close of business was the spark that ignited the market.
    463 words
  • Article
    Good pace for merchant banking this year
    544 1  -  By JOHN TAN MERCHANT banking prospects in Singapore appear to be brightening. Two banks have Just reported significantly improved results for last year. Morgan Grenfell (Asia) Ltd, in its first full year as a wholly-owned subsidiary of Morgan Grenfell (Holdings) Ltd, has achieved
    544 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      26 1 r HH LANIER^ ■m the perfect secretary f 1 5" high I I 2Va" wide lOotwt works 24 hours day and never grumbles DON Ftfy.m:*****8/53f163 > II
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      Page 1 Advertisements Column 2
      143 1 LATEST ISSUE The latest issue of the ASEAN Business Quarterly follows two major themes: The modernisation of rural areas and world markets for toys and games. The former attempts to get at the roots of economic motivation among 80% of the ASEAN population. The latter explores the British, American, West
      143 words
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      Page 1 Advertisements Column 3
      93 1 SEE BACK PAGE CHEMICALS have growth potential i PEOPLE In business 2 SIBEX '78 performance MAN with a touch of Klaaee 6 FORUM: Investor* and mysticism of the charts 7 UNITED Engineers' recoverv j« w. performance UNITED Engineers' recovery grand for TRACTORB (M) buildozes Li \llll 5 hom trade *»ith
      93 words
    • Advertisement
      Page 1 Advertisements Column 4
      429 1 l:\vrett Lines Everett Steamship Coprn. S/A Jc-mph JACK CHIA MPH LIMITED CORPORATE ASSISTANT to the CHAIRMAN At o result of expansion and re-organisation, the present Executive Assistant to the Chairman, concurrently a director of Jack ChiaLtd, hos been promoted and will shortly be assuming wider and more responsibility as Executive
      429 words
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  • TRADE AND INDUSTRY
    • Article
      MEMO PAD
      158 2 DATE TITLE LOCATION ORGANISER COURSES AND TALKS Mar 21-23 Limit State CP 110 Design* Seaview Compa International Mar 27-29 Prestressed Concrete Design Seavlew Compa International Mar 27-28 Costing and Financial Analysis for Marketing Managers Hilton Price Waterhouse Mar 28-30 Problem solving and prevention SIM Conference Room SIM Mar
      158 words
    • Article, Illustration
      Potential for growth of chemicals
      555 2  -  By TSANG SAU YIN THOUGH the chemical and gas sector accounts for only 2.5 per cent of total manufacturing output, It plays an Important role in the industrialisation of Singapore. This is reflected in the Government's long-term objective to develop a diversified chemical base with
      555 words
    • Article, Illustration
      Food Asia fair whets many appetites
      161 2 KEEN regional interest has been expressed over the coming Food Asia exhibition to be held in Singapore next month, according to Mr. Pierre Picquot (above) regional director of Sopexa, the industry organisation sponsored b> the French Ministry of Agriculture. Mr. Picquot has been visiting
      161 words
    • Article
      Asean public relations conference
      195 2 TWO FORMER Foreign Ministers who helped found Asean 10 years ago, Mr. Adam Malik of Indonesia and Mr. Thanat Khoman of Thailand, will be among the main speakers at a conference In Manila on ways to project the regional grouping. The Public Relations Conference, from March
      195 words
    • Article
      Deferred payments
      225 2 A MAJOR housing developer In Singapore has added another attraction to the apartments it is offering. Purchasers of the flats may now defer their progress payments during the construction stage and some of these payments may be deferred for as long as one year. Ocean and Capital Progertles,
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    • Article
      Lock icon RECORD SPARE PARTS SOLD
      82 2 Reuter. Britain exported a record £140.6 million (SS6IB million) in aircraft and spare parts In January. The previous monthly record was £107.6 million last September. The Society of British Aerospace Companies said aircraft Industry exports In 1977 totalled £1,038 million, up £134 million on the previous
      Reuter.  -  82 words
    • Article
      Lock icon Back pay costs $22m
      72 2 AFP. ABOUT £5 million (Ss22 million) in back pay has been obtained for personnel on board 200 ships as part of action against flag-of-convenlence vessels. The International Transport Workers Federation said yesterday the back pay figure applied to 1977 only. It recalled that some ships were
      AFP.  -  72 words
    • Article
      Sibex '78 fares well to delight of exhibitors
      384 2  -  •y PETER CHIA SIBEX'7B looks like being one of the most successful trade fairs held In Singapore. It seems, however, that the same cannot be said for Conequlp '78. Botn snows ena toaay. In the first two days, more than 6,000 businessmen
      384 words
    • Article
      Lock icon Perils of trade barriers — Dell
      439 2 Perils of trade barriers Dell UPI. BRITISH Trade Secretary Edmund Dell warned against the danger of a spread of protectionism which he said would damage developing countries and slow the pace of world trade. He said In New Delhi that Britain did not wish to see a spread of protectionism.
      UPI.  -  439 words
    • Article, Illustration
      PEOPLE IN BUSINESS
      213 2 PROFESSOR George Thomson, OBE, PJO, who has joined Consulasla as executive chairman, brings with him 33 years of continuous first-hand experience in Singapore and Malaysia In the fields of administrative training, mass communication and national development. An honours graduate of history from Edinburgh and of politics and
      213 words
    • Article
      LENDING A HAND
      181 2 NUGAN Hand International's acquisition of a substantial shareholding of a West German bank, F.A. Neubauer, will help to expand commercial and trading activities between Singapore and Germany. "F.A. Neubauer will be our eyes and ears in Germany. The Singapore office will now have direct access to new
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      345 2 n u FROM FEDERAL PUBLICATIONS LIM EUAN YAM a step-by-step guide An easy-to-understand yet fully rewarding book on flower arrangement. Floral Creations, with its unusually lucid text and thoughtful illustrations, could make an expert flower arranger of even the veriest novice. The joy of this book, however, is that even
      345 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      616 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Sublet in a hurry (6) 7 Don't budge, Just continue fibbing (3. 5) Drug some doptly swallowed (8) 10 Hold tight, understand? (S) 13 Some balloons that may be airborne (4) 14 Last man aboard? (4) 15 Just flop along? (4) 14 Like literate
      616 words
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  • OVERSEAS
    • Article
      Foreigners buying up Treasury issues
      455 3 FOREIGN buying of marketable US Treasury obligations continued to dominate credit market activity during the past week, and should continue as a major market factor for the near-term. The scope of foreign buying was again documented in the latest Federal Reserve banking report, with an
      455 words
    • Article
      Lock icon Free-for-all sea mining?
      284 3 AP THE United States said on Thursday if underdeveloped countries do not make concessions at the coming Law of the Sea Conference, industrialised nations will start exploiting undersea resources worth hundreds of billions of dollars on their own terms. Ambassador Elliot Richardson, the US representative to the
      AP  -  284 words
    • Article
      Lock icon Third Saudi loan to Taiwanese
      122 3 AFP. SAUDI ARABIA and Taiwan yesterday signed a US $30 million(Ss69 million) for the financing of telecommunications projects in Taiwan. Dr. Mahsoun Jalal, vice chairman and managing director of the Saudi Fund for Development and Taiwan Finance Minister Walter Fel signed the agreement. This Is
      AFP.  -  122 words
    • Article
      Lock icon Industries produce more despite strike
      1278 3 SILVER LINING AMID GLOOM Agencies. DESPITE disruptions caused by the coal strike and severe winter weather, US industries managed a respectable 1.5 per cent Increase in production in February, partially reversing a big January slowdown. The Federal Reserve Board said the weather and the strike
      Agencies.  -  1,278 words
    • Article
      Lock icon Australia's jobless running at high level
      196 3 AFP UNEMPLOYMENT in Australia is still running at an exceptionally high level and showing no signs of improvement. The Federal government. for the first time, released two sets of figures compiled in different ways in an effort to prove that the anti-inflation policies of
      AFP  -  196 words
    • WORLD IN BIEF
      • Article
        Lock icon EVEN-HANDED RULING
        609 3 Agencies. THE International Trade Commission has decided that imports of cotton work gloves from China does not disrupt the US market. The commission's decision was the first taken under a section of the Trade Act of 1974 dealing with market disruptions by imports from a communist country. It
        Agencies.  -  609 words
    • Article
      Lock icon Council is not raving over new coal pact
      799 3 Washington Star THE NEW tentative contract between the United Mine Workers and coal operators has failed to get as much support among the union's bargaining council as the earlier proposal that the rank-and-file miners rejected. This lack of backing was viewed as
      Washington Star  -  799 words
    • Article
      RAW DEAL FOR THE ARGENTINIANS
      427 3 TWO YEARS after the Arfentlne army coup that deposed Isabel Peron, the guerilla war is nearlng Its end and the people now are more worried about their pay cheques. Though money flows Into the once-empty vaults of the central bank under the direction of Economy
      427 words
    • Article
      Lock icon Carter to put his foot down on inflation spiral
      394 3 Washington Star THE CARTER administration if raising its inflation forecast and taking a hard look at proposals for stronger actions to curb the price-wage spiral, highranking US officials say. The programme to combat inflation is widely viewed as too mild to
      Washington Star  -  394 words
    • Article
      Money supply growth ahead of guidelines
      480 3 BRITAIN'S money stock in the four weeks to Feb 15 show sterling M-3 was still growing faster than the 9 to 13 per cent target range announced by Chancellor of the Exchequer, Denis Healey. Bank of England's figures show that the seasonally adjusted rise
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    • Article
      Lock icon Fall in Canada's foreign assets
      284 3 Reuter THE BANK of Canada said its foreign currency assets fell C 5158.7 million (5J326.3 million) in the week ended March 15 to a total of $838.7 million. The decline reflects the use of the assets to defend the Canadian dollar. The Canadian government has
      Reuter  -  284 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      218 3 /> /I II <, $105/-POST FREE 310 pages. 30 x 27.5 cm with 253 illustrations including 92 plates in full colour. Now on Sale at all good bookshops or order direct from In the kingdom of flowers, orchids are the undisputed glamour queens. Their elegance of form, vitality, and almost
      218 words
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      450 4 THE Singapore market closed very quiet with April One RSS buyers quoted at 204.25 cents/ kilo yesterday down 0.50 cent on Thursday's close. Dealers said the afternoon session resumed on a marginally higher note but fell back some half a cent after the close on
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    • Article
      Closing prices
      30 4 March 17 Rubber: Singapore: April 204.25 cents (down 0.50 cent) Malaysia: April 207.50 cents (clown 0.25 cent) Tin: 11,570 (down 122) Official offering: 206 tonne* (down 21 tonne*)
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    • Article
      RAS PRICES
      328 4 Prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers i Sellers Int. 1 R S S prompt f o b. 203.25 204 2SN 203.50 204.50N Int 1 R.S.S. April 204 00 204.50 204.25 204.75 Int 1 R.S.S. May 204.50 204.75 204.75 205.00
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    • Article
      SSR AND SMR
      99 4 NOON SSR and SMR prices yesterday: HAS April (Current Mth) Buyer* Seller* (cent* per kg) (Fo. Buyei (cei May ■ward Mth) r* Seller* ■Uperkc) SSR 20 SSR SO (1-ton pallet) (1-ton pallet) 194 00 192 00 196.00N 194 00N 195 00 193 00 197.00N 19S.00N MRELB SMRSCV
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    • Article
      Palm oil
      73 4 US dollars per ton. LONDON: Tfcunday Previous Malaysia 5S ffa bulk May Sumatra 5% ff a March April May June 800 sir 590 pd 620 slr/815 pd 587Vi/590 pd 570/587 S pd 800 sir 590 pd 820 slr/815 pd SlOtir 580 slr/575/572^ June/July Aug Nigeria 5% ffa bulk
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    • Article
      Cocoa
      154 4 TERMINAL opened £28 to £23 higher in a turnover of 209 lots In London yesterday. Dealers said the market had been expected to open lower following the close In New York combined with steadier sterling. However, unconfirmed reports of industry enquiry during the morning steadied the market and local
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    • Article
      Rice
      227 4 BANGKOK: Prices in the rice shipment market rose US$5 for white rice and loonzaln yesterday. Prices of broken and parboiled remained unchanged, while 100 per cent second grade loonzaln Increased to $392 from the previous $387. US dollar per tonne fob basis Bangkok: White Rice: 100 pet Ist class
      227 words
    • Article
      Produce exchange
      403 4 PRICES held barely steady in a quiet Singapore produce market yesterday. There was low volume trading in all the sectors with no inquiries coming from overseas. Consequently, only small sales were made by traders on local consumer accounts. Black peppers were weaker than the white grade and all
      403 words
    • Article
      Coffee
      178 4 ROBUSTA futures In Lonf don yesterday ended the opening session steady, £6 to £27 per tonne up from t Thursday's close. i The biggest gain was in i untraded Jan while spot March and May gained £6 on trade and commission house buying. Dealers said the rise was In
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    • Article
      Sugar
      182 4 TERMINAL In London yesterday morning opened £0.35 per tonne higher to £0.15 lower than Thursday's 1700 hours levels. Sentiment appeared unaffected by reports of 14 cargoes of white sugar being offered to Sri Lanka at a tender for only one cargo. The London daily raws price was raised £1
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    • Article
      Hongkong comex
      410 4 THE sugar market closed firmer in dull and featureless trading yesterday, with 10 lots traded. Traders were reluctant to enter the market until the final hour, due mainly to wide spreads between bids and offers, dealers said. Trading was restricted to July and October, which rose 0.17 US
      410 words
    • Article
      Wheat
      71 4 WHEAT futures In Chicago on Thursday showed losses of 1/2 to 1-1/4 cent a bushel. Commission house selling took prices lower, despite support generated by commercial buying. Local traders bought new crop months. Doubts over passage of the Congressional legislation to raise acreage set asides and new crop loan
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    • Article
      Soybean
      178 4 AFTER another day in Chicago of swinging to either side of the previous close, soybean futures moved up smartly in late dealings to register seven to 2-1/2 cent a bushel gains on Thursday. Prices fluctuated during the session in response to firmness in meal and weakness In oil. Commercial
      178 words
    • Article
      Gold
      370 4 THE kilo bar in Singapore opened at S$13,861. and closed at $13,820. In London, the metal opened at a high of US$185.80/ 186.10 and closed at a low of $185.30/ 00. The London morning fix was US$184.50, up 25 cents from the previous. Soutm: Singmai In HONOKONO yesterday, gold
      370 words
    • Article
      Copper
      288 4 COPPER wlrebars finished in London yesterday mornlng with all round gains of £2.50 per tonne. Dealers said prices softened on the early premarket in the absence of significant physical offThree Months traded from €676 up to £682.50 at the end of kerb dealings. This week's stocks are expected to
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    • Article
      Silver
      152 4 SILVER finished in London yesterday morning with gains of 2.3 to 2.1 pence per troy ounce. Higher Initial pre-market values, which reflected overnight gains at New York, attracted some profit-taking, dealers said. Subsequently steadiness in gold and the easier trend in sterling against the US dollar steadied the market
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    • Article
      Lead
      61 4 LEAD In London yesterday morning gained mostly C 1.50 per tonne. Values sagged on the premarket In line with the trend in copper but soon picked up on short-cover-ing in the ring following the decline In sterling against the US dollar. Three Months traded upto C 316 In sales
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    • Article
      Zinc
      79 4 ZINC in oonaon yesterday rose by mostly C 2 per tonne. General liquidation pushed Three Months down to £264 on the pre-market, reflecting the early decline In other base metals. But short-covering and some fresh buying interest subsequently reversed the trend and Three Months reached t'2B9 during ring and
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    • Article
      INELASTIC RUBBER
      270 4 LITTLE, If anything, can be said of this week, where new features and orders have been lacking and hardly any net change was registered. Markets tended to be Inelastic and marking time as levels moved narrowly within a two-cent range, with turnover continuing thin. The currency dominated centres
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    • Article
      Straits tin
      169 4 THE Straits tin price in Penang fell a further Ms 22 per plcul to its yesu- record low of $1,570. News of US plans to seU 45,000 long tons of tin metal from Its reserve still continue to linger In market sentiment, with easier conditions at the London
      169 words
    • Article
      KL may double rice imports
      433 4 MALAYSIAN wheat imports this year are forecast at 435,000 tonnes, about 2 per cent above last year's. The Increased Imports reflect a desire by Malaysia for a wider range of bakery products, the US Agriculture Department (Usda) said In a Kuala Lumpur field report. Rice
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    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        540 4 THERE was strong upward pressure on the yen {esterday on the forex maret. Other currencies, including the Deutschemark, were much steadier. On the local money market, anticipation of tighter money conditions in the medium term above Two and Three Months term rates up about 1/16 per cent but
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        Minimum lending rates
        72 4 THE AVERAGE prime rate of bank* in Singapore ■tends 7 f*" 1 tk* range running between C* per cent end 7 1 p«r cent. Overaea-Chineee Banking Corporation ia at the lower •"J 1 the ranee while a number of banks, including Citibank and Development Bank ot Singapore,
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        Asian $ rates
        156 4 Asian rates 1 ASIAN currency deposit interbank rates as at cloae on Mar 17: USMli Offcr 7 days 8 15/16 6 13/16 1 mth 71/2 7 3/8 2 mths 73/16 71/16 3 mths 7 5/16 7 3/16 6 mths 7 5/8 71/2 9 mths 711/16 7 9/16 12 mths .713/16
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        Euro $ rates
        63 4 Euro rates LONDON Eurodollar dtpotlU oocnInc quotes on Mar 17 Weekend 2-6/16, 2-7/16 Mon/ Tue» and Tuea/ Wed 6-15/16. 6-13/16 Call two days 6-15/16. 6-13/16 Seven days fu and notice 7, 6-7/6 One mth 7-7/16, 7-S/16 Two mths 7-3/16, 7-1/16 Three mths 7-5/16, 7-3/16 Pour mths and Five mths 7-1/2,
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        Australia/NZ
        67 4 AUSTRALIA/ N2 exchanges Quotes on Mar 17: AUSTRALIA: US dollar l .UU/ 1.1363 Sterling 0 3*65/ 0 Ml 7 Ninety-day air mall buying rates Sterling 6 6136 US dollar 1.1711 Ninety-day forward buying rates Sterling 0 5*76 US dollar 1 1366 NEW ZEALAND Sterling 0 5366/ 6 5341 US
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        Discount
        44 4 RANOE OF prtc« i offered by d 14. 3-1 T 3-1 B 3-1 •-I 3** at 3*% Closing Buying Selling lb 3 VI* 3 1/16 4 7/8 4 3/4 Month CD Month 5 4 7/8 3/8 S 1/4 Source: National Discount Co Ltd
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        Frankfurt
        57 4 FRANKFURT exchanges opening quote* on Mar IT: 178 2 0270/ 80 Can 1.6016/ 40 SlerUnc 3 80/ 90 O rl 93 80/ 80 S Fr 10« 45/ 78 Lit 2 387/ 377 F Fr 43 40/ 55 N Kr 38 22/ 32 B Fr (con) 6.417/ 437 B Fr
        57 words
      • Article
        Zurich
        52 4 ZOTUCK exchange* clottng quote* on US 188 40 8880 SterMrwJ 8603-6068 Can 1.0T96-67W O Mk 62 5344-7862 O F1 88 6207-8645 F FT 40 1363-2430 B Fr 5 6470-6634 D Kr 33.6886-7364 SKr 40 8810-6611 Ut 0.2187-2203 Au* *ch 12 8657-6818 Port 4 6064-6502 Bp*ta 2.3667-3671 Al* 0.27-37 Yen
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        London
        235 4 YESTERDAY'S dollar retreated in opening trading from Thursday night's closing levels against virtually all currencies but was off the lows registered In the first minutes of trading. Dealers said the market was generally quiet ahead of the weekend but neverousness and uncertainty linger over the dollar's short-term path. The
        235 words
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        New York
        244 4 THE dollar closed weaker against major currencies on Thursday, and particularly the Swiss franc, In fairly quiet trading. Dealers said there were no new developments affecting the dollar, but the Mid-east situation and potential imposition of exchange controls by West Germany remain background factors. The Swiss franc showed
        244 words
      • Article
        Tokyo
        196 4 AFTER Bank of Japan Intervention, the US dollar for overnight delivery closed at a post-war record low of 230.00 yen, sharply below Its 231.50 opening. The central bank bought between $250 million and $300 million In afternoon trading, first at 231.00 and then at 230.00. Dollar-selling by foreign banks
        196 words
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        Hongkong
        43 4 BANKNOTE rates quoted on Mar 17: US 4.56-4.00 UK 8.87-8.87 Burma 120-170 India 4.80-5 00 Indonesia 1.08-1 09 Japan 1 W-2 00 Korea 0.92-0 95 Philippines 0 577-0 507 Singapore 1 M5-2 005 Malaysia 1M5-1.MS Brunei l.W-I.M Thailand 23 30-23.40 Taiwan 12.00-12.30
        43 words
      • Article
        Eurobonds
        301 4 Straight. Bid OCbr FFI 8t* 87 Courtaulds tuHH EIB3tff9*92 Flaona f*« 10* 87 Inc 992 Ineo8*84 Sj>art>ankernu Shell (MSO 8NCF8W84 EIB8H86 EIB 8% 93 EC8C8H8S EuroflnaISS8 EIBst«»*88 Rowntree itf 10*86 NZ Foretl Product!9M AvcoOV.65 Hitachi 6* S3 Oft Kon trollbank 7(0 Oeat Kon trollbank 7v. «2 Com Bathurst 9
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      • Article
        Treasury Bills
        43 4 RESULTS of tender held on Mar 17 for 91-day Treasury bills to be Issued from Mar 20 to 23: Offered: $25,000,000 Applied for: 996,900,000 Allotted: 129,000,000 Accepted bids: 199.20 43* higher bids In Average rate of discount on allotment 3.200% p.a.
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
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      176 words
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  • TRANSPORT
    • Article
      Lock icon For better or for worse Narita is set to open
      548 5 Reuter. AFTER 12 years of often bitter fighting that has claimed five lives and injured more than 8,000 riot police and demonstrators. Tokyo's new International airport at Narita Is to open on March 30. No gala atmosphere surrounds the opening
      Reuter.  -  548 words
    • Article
      Lock icon Dire threat to US shipping
      244 5 Reuter, UPI. US Assistant Secretary of Commerce and director of the US Maritime Administration, Robert Blackwell, has warned that the American shipping industry is being threatened by competition from communist bloc nations. "There's no way for American lines to compete in the long run with
      Reuter,; UPI.  -  244 words
    • Article, Illustration
      SHIPS IN PORT
      346 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Benledi (after Shinsakura Maru (Group 1 on board)B/9 Golden Sea (0600)24 Ibn Albeitar (0700 after Nedlloyd Adelaide) 3/4 King Dragon (0600 23 Menelaus (after Martha Bakke) 38/39 Mercury Bell (1300 after Vavajo) 40/41 Ocean Supply (B. Barge) (1900 48 Prima King (1600
      346 words
    • Article
      Rich pickings for the FEFC
      784 5  -  SEA PROVIDED USS4OOM By TERESA LIM THE FAR Eastern Freight Conference (FEFC), according to the calculations of the Singapore shippers' council, grossed US$4OO million last year from the South-east Asia trade alone. The council estimated liftings from this region to be five million tonnes last
      784 words
    • Article, Illustration
      TRADE BUILD-UP WITH WEST ASIA
      203 5 SINGAPORE'S trade with West Asian countries appears to be picking up if the increased sailing frequency to Singapore by cargo liners of the United Arab Shipping Company (UASC) is any indication. UASC which began operating to Singapore with one sailing per month last year now
      203 words
    • Article, Illustration
      Lock icon Dr. Owen stresses global effort to achieve safety
      131 5 Reuter. BRITISH Foreign Secretary, Dr. David Owen (above), warned shipping organisations' representatives in London that pollution, particularly from tanker casualties, Is still a worldwide problem. He said that in 1976 the world's principal shipping fleets lost some 345 vessels of more than
      Reuter.  -  131 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      213 5 AP. EXPANDED chartering, particularly on a singlevoyage basis, showed a generally steady freight market tone on Thursday. But the River Plate-Japan grain rate slipped slightly after its recent climb. This could be seen in Bunge's fixture of the Aquafalth or substitute for a 32,000-ton April 1220 shipment
      AP.  -  213 words
    • Article
      Lock icon Orders are flying in for Airbuses
      190 5 AFP. EASTERN Airlines Is to buy 23 A-300 Airbus jetliners under a preliminary agreement with the plane's makers, Airbus Industrie, the Franco-German consortium said in New York. Airbus Industrie president George Warde said the agreement was subject to confirmation by the boards of the
      AFP.  -  190 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      679 5 ARRIVALS Service Local Operator Number Time From CAL CI333 0040 TPE/HKG/KUL TMA TL302B 0530 TPE 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 CAL CI814 1000 HLP GIA GA980 1030 HLP
      679 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      290 5 |ff W JBk Wfyff BUSINESS TIMES: Special Feature on Travel "A Businessman's Holid&y With a difference" I A April, the time of year when people are either travelling i or planning their annual holidays. Because they are frequent travellers, businessmen \jr are becoming increasingly selective when it comes to choosing
      290 words
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  • Article
    The tragi-comedy of protectionism
    408 6 IT MAY bear repetition to point out that Australia's new wave of efforts against protectionism Is a delightful case In point for those who find petty protectloneering amusing. Australia has always been cool or evasive towards its South-east Asian neighbours on the subject of protectionism. That
    408 words
  • Article
    Merchant banks now maturing
    300 6 MERCHANT banks In Singapore are turning In higher profits. Judging by the latest financial reports for last year. This is an encouraging sign that both the banks and the market Itself are beginning to mature. It is also a clear endorsement of the efforts being put
    300 words
  • Article, Illustration
    Lim Tow Yong — the man with Klasse
    1781 6  - Lim Tow Yong the man with Klasse By TSANG SAU YIN FOR MANY Singaporeans, "The Emporium" department store is synonymous with the highly successful retail chain run by Emporium Holdings. Llm Tow Yong, managing director of Emporium Holdings, strikes one on first acquaintance as an outgoing person, quick to answer
    1,781 words
  • Page 6 Advertisements
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      65 6 WEATHER g —J WEATHER outlook for Singapore from 6 am. to noon today: isolated showers around mid-day. REPORT for 24 hours prior to 7.30 pm on March 17 at the airport. Maximum Temperature 33.7° C Associated Humidity 66 Minimum Temperature 2S.B°C Associated Humidity M Hours at Sunshine 8.80 Rainfall in
      65 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      319 6 SINGAPORE 5 12.50 PM Opening announcements followed by Sesame Street* 1.55 Saturday Matinee Guns At Batasi* Starring: Richard Attenborough, Jack Hawkins, Flora Robson, John Leyton, Mia Farrow 3.35 Police Surgeon Kiss And Kill® 4.00 Soccer Malaysia Cup '78 Sinqaoore Vs Kedah 0 5.00 Sandiwara —Tiada Tempat Bersembunyi (Repeat). 5.40 Little
      319 words
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  • Article, Illustration
    Lock icon Very few will take to oil tunnelling
    1054 7  -  It's a crazy idea. And likely to be an unKtpular one. But Professor Potts and s merry men are determined that they will now persuade the oilmen that tunnelling for offshore oil is safer, cheaper and cleaner than the present method of extraction.
    FT.  -  1,054 words
  • Article, Illustration
    STRAWS IN THE WIND
    463 7 A LOCAL advertising firm looking for a copy-writer recently received the following confident application, headed "PreIntervlew Brief": "I have working familiarity with the principles of copy and rhetoric. My writing style simple straightforward, yet subtle and I abhor dull writing above all else. My sentences gets
    463 words
  • Article
    Ocean pollution still neglected
    530 7  -  •y LLOYD TIMBERLAKE MODERN technology allows ocean-going oil companies to work wonders today, but they still can't clean up the messes they make, according to an authoritative round-up of offshore technology in London. Last year's Bravo oil rig blow-out "showed yet again that the progress in
    530 words
  • Article
    Lock icon The mysticism of charts
    1829 7 FORUM on investment By HOCK LOCK SIEW IN MY QUEST for short cuts to successful Investment, I met many speculators who talked with apparently great certainty about anticipated price movements. The level of certainty with which they pinned prices to some stocks was awe-inspiring and I
    By HOCK LOCK SIEW  -  1,829 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      220 7 UROPE and UK/IRELAND >re pe 5S ROYAL DUTCH AIRLINES G2. Mandarin Hotel Arcade 333 Orchard Road Singapore 9. Tel: *****1 Gl6, Kompleks Antarabangsa, Jaian Sultan Ismail Kuala Lumpur, West Malaysia. Tel: *****1 F7, Park Hotel Building P.O. Box 1060 Miri, Sarawak, East Malaysia. Tel: ***** General SsJes Agents: Limbang Travel
      220 words
  • Page 7 Miscellaneous
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Lock icon Concern over yen rise
      571 8 Tokyo Source: DBS-Daiwe SUPPORTED by strong buying, share prices opened bullish yesterday, cetrlng on pharmaceutical. oil refining and Incentive-backed speculative Issues, but closed lower on concern over the sharp appreciation of the yen. Pharmaceutical Issues such as Shlonogl and Elsal. oil refining Issues Nippon OH and
      Source: DBS-Daiwe  -  571 words
    • Article
      Lock icon Hongkong
      408 8 Source: Sun Hung Kai Sec Ltd THE market opened yesterday on a firm note following the excellent HK Electric results and a bullish speech by the Hutchison chairman. Mr. Bill Wyllle, to the Society of Securities analysts. Th? HK Electric HKSI96 million profit figure plus 2-for-5 bonus issue and
      Source: Sun Hung Kai Sec Ltd  -  408 words
    • Article
      Sydney
      327 8 THE market closed mixed yesterday after a quiet morning and a late rally with BHP rising four cents to AJ5.72. Pancontlnental fell 40 cents to 89.10. Renison 26 to 5.84 and CSR five to $2.60, dealers said. Western Mining fell one cent to $1.19 while Coal and Allied rose
      327 words
    • Article
      Manila
      150 8 THE market closed mixed yesterday with minings and oils averages posting slight gains but commercials easing in a turnover which fell to 1.47 million pesos from Thursday's 1.75 million, dealers said. Although Atlas lost slightly other mining issues. Including Acoje Mining, had small gains Leading oil issues remained steady,
      150 words
    • Article
      Bangkok
      147 8 MAR 17 Bahts Asia Fibre Bangkok Bank 391 ♦2 Bangkok Invest 390 Bangkok-Metro-politan Bank Bata BerllJucker 500 20 CarpetIntnl Charoong Thai Wire Dumex 444 ♦4 DusltThani 3M Faber Merlin First Trust 608 -7 Genera Finance 392 -4 Indo-Thal Industrial Finance Corp 3129 150 J And J Ho 424 ♦4
      147 words
    • Article
      Selected indices
      65 8 FINANCIAL TIMES INDUSTRIALS Thursday 458.3 Wednesday 95% to 95% H.K. HANG SENG Friday 429 07 Wednesday 453.9 Thursday 423 45 Week Ago 450.5 DOW JONES AVERAGE INDUSTRIALS Thursday 762.82 Week Ago 420 91 SYDNEY INDUSTRIALS Friday 395 48 Wednesday 758.58 Week Ago 393.83 Week Ago 750.00 LONDON DOLLAR
      65 words
    • Article
      Bargain hunting reverses early retreat
      1215 8 New York STOCK prices finished with a broad gain In heavy trading on Thursday, after bargain hunting reversed a morning retreat. The market advanced, despite adverse news that the dollar dropped sharply against the Swiss franc and the Oerman mark. Analysts said investors apparently couldn't
      1,215 words
    • Article
      Jo'burg
      361 8 OOLD shares on Thursday were easier on the day In line with lower bullion indications. Financial ml nines were steady in light trading De Beers wiped out an earlier three-cent low to rule unchanged at stt. Other metals and minerals were slightly higher on balance In slack trading The
      361 words
    • Article
      Toronto
      198 8 MAR l« C8 Abitibl Alcan Algoma Bunk Mont Bank Nova Scolta Bell Tel Beth Corp BP Can Ltd Brascan 12 27*. IS 19 19% 54 14% 15% •f unch Camp Red Lake Can Imp Bk Cunpar Canpac Inv PI CarltngO'Keefe Comlnco Cons Bath Cons M.irbenor 37 26% 17% 16%
      198 words
    • Article
      CHICAGO BOARD OPTIONS
      1539 8 March 16 ON THE Chicago Board Options Exchange, a total of 90,024 contracts was traded on Thursday compared with Wednesday's $9,001 contracts. OPTION APL JLY OCT STOCK Alcoa Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AtlR AUR AUR Avon Avon-P Avon Avon-P Avon Avon-P Bank
      1,539 words
    • Article
      Prices mostly lower
      464 8 FA 'ROPE MARKETS MOST bourses reported lower prices on Thursday. Milan stocks and Amsterdam fell over a broad front. Milan reported nervous trading following the news of the kidnapping of Christian Democrat Party leader Aldo Mora. Selling pressure caused widespread losses, with Montedison falling 3 per cent,
      464 words
    • Article
      Frankfurt
      227 8 MAR !C Dm Aef-Telefunken 87 Akio 20.10 -0 2 Allz Leben 620 Allz Vers 480 ♦5 BASF 136 70 -0 3 Buy HT Wbank 282 -1 Bay V ban It 315.50 -1.5 Bayer 137 20 +0.1 BBC 294 MB unch BMW 226 ♦2 Cassella 375 unch C'hem Verw 227
      227 words
    • Article
      Zurich
      182 8 MAR 16 Francs 1 Actions Suisse* 267 ♦7 Alusulsse Br 1230 25 Alusulsse Reg MS ♦2 Brown Buverl Br 1635 -35 aba Deify Br 1180 unch CibaGelgy PC 890 unch Ciba Gelgy Reg 651 -4 Credit Suisse Br 2335 -15 Credit Suisse Reg 452 Elektrowatt Br 1660 -10 George
      182 words
    • Article
      Amsterdam
      227 8 MAR l« Fls ABN 346 SO ♦0.5 Ahold 99 00 unch Akzo 21.20 -0 4 AMEV 81.00 1 Am fas 107 50 unch Amrot Bunk 75.80 +0 3 Bergoss 59 00 -3 Berk 98 00 -2.5 BoU 69 50 -0 4 Borsumij 141 00 unch Burhmann 67 10 -0.3
      227 words
    • Article
      Brussels
      93 8 MAR It Fn FORWARD MARKET Acec 219 +3 Arbed 2335 +25 Astur 514 2 Brasoan 431 -4 Bru-Lamh 1434 10 Canpac 475 -9 Cock 349 4 I> Bws 166 -2 Ebes 2355 unch Electrobel 6060 unch Gb-Inno-Bm 1855 unch Oev 1244 8 Hobok 2135 -100 Petro 3825 -45 Ryl
      93 words
    • Article
      Milan
      96 8 MAR 1C Lire Ante 127.25 -1 Assoc Oen ***** -300 Bastogl 507 -U Ontrale riat 3485 IMS -84 -25 rinsMler 75.50 -1 Otn lmmob M -0 75 in Pti 2113 -47 Iuicementt ***** -280 I taigas 829 •U Italstder 130.15 unch MafneuMPf 383 -3 Martlli Ere 174 •I Mcdkob
      96 words
    • Article
      Paris
      280 8 MAR Frs CORBEILLE Air-Llqulde 272 unch B 8 N Oervais Danone 398 28 K C8 F( Thomson %r CM) 174.10 i +3.1 Cle Francaise des Petroles 114.50 +4.J Compagnle Flpanclere Compagnle Generate 33« -3 n Credit Fonder De France 306 50 -8.5"Hachette (Ltbrairte) 150 +6 Machines Bull 30 90
      280 words
    • Article
      LSE will soon try out options market
      110 8 THE LONDON Stock Exchange is shortly to carry out a series of dummy runs to test the dealing and settlement systems of the, proposed new market to traded options. The tests, which are!* prelude to this market, becoming fully operationalearly next month, will
      110 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      152 8 Don't let the language barrier stop you from wider !<: contacts I I m m e\\> Y r \e> nN > x fe^ ./tl e f V*° I oT* e \N v tV° a 3° p°:S^° \e a YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travelling
      152 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon K-Mart sales 19pc higher
      169 9 NORTH AMERICAN COMPANIES Reuter K-MART CORP, said sales for both the fourth quarter and year rose 18.6 per cent, even though severe weather and competitive conditions in the final quarter pressured gross margins. The company noted that the effect of llfo accounting for inventory was lower
      Reuter  -  169 words
    • Article
      Lock icon Price war hinders Heinz
      134 9 Reuter. H.J. HEINZ CO expects fiscal 1978 profit gains to be aided by strong performance from Its Heinz US division, but is experiencing problems In its British and Canadian operations, Paul Renny, director of banking and financial relations, told analysts. Mr. Renny said that although the
      Reuter.  -  134 words
    • Article
      Lock icon United Tech
      31 9 Reuter. UNITED Technologies Corp said Its power systems division received a US$6 million order from Hongkong Electric Co Ltd for a 60megawatt gas turbine powered electric generating station. Reuter.
      Reuter.  -  31 words
    • Article
      Lock icon TWA bugbear is discount fares
      603 9 Reuter TRANS WORLD Airlines (TWA) was plagued with serious cash flow problems during the economic recession In 1975, but Wall Street analysts said it has virtually eliminated the threat of major financial woes in the foreseeable future. They noted that TWA is restructuring much of
      Reuter  -  603 words
    • Article
      Lock icon ANTI-TRUST ACT MAKES IMPACT
      471 9 NYT A LITTLE more than three years ago, a major change occurred In the legal framework of crime and punishment In America: Businessmen who violated the anti-trust law after Dec. 31, 1974, could be found guilty of a felony. The change means that an executive found
      NYT  -  471 words
    • Article
      Lock icon BP will develop Buchan oilfield
      485 9 EUROPEAN COMPANIES Reuter LONDON: British Petroleum Co Ltd has announced net 1977 income of £304.1 million (£338.1 million) under the new system of accounting. Comparisons are adjusted accordingly as such. Net Income on previous accounting basis is £196.4 million (£179.8 million) Sales proceeds amounted to
      Reuter  -  485 words
    • Article
      Lock icon Rank won't shut its subsidiary
      125 9 Reuter LONDON: Rank Organisation Ltd should achieve a further Improvement In profits In fiscal 1978 before currency adjustments, chairman Harry Smith told the annual meeting. He said Rank, contrary to recent speculation, does not Intend to close Rank Radio International Ltd, which had pre-tax trading
      Reuter  -  125 words
    • Article
      Renault car assembly
      86 9 PARIS: Renault 20 TS cars will soon be assembled In Thailand, the French stateowned firm announced here. The decision followed a protocol agreement concluded at the beginning of last month between Renault and a Thai com- pany. The 20 TS model Is a front-wheel-drive, flveseater saloon car
      86 words
    • Article
      Lock icon SUSPENDED WORKERS GET NOTICE
      89 9 AFP PARIS: Thirty-five of the 44 workers suspended at General Motors' factory at Strasbourg, north-east France, last week have received notice, trade union sources said. The men were suspended after some of the workers occupied the factory's power unit. Among them were six union officials, whose
      AFP  -  89 words
    • Article
      Lock icon Goodyear devises coal-saving method
      146 9 AFP. THE GOODYEAR Tire and Rubber Company says it uvM the equivalent of 30 tonne* of coal a day by burning used tyres to help heat its factories and offices. The firm burns about 2,000 old car and truck tyres every day, after mixing them with
      AFP.  -  146 words
    • Article
      Chrysler plans to take 10pc of UK mart
      395 9 LONDON: Chrysler UK plans to take more than 10 per cent of the UK car market a figure last achieved In 1974 with the addition to its range later this year of the new Frenchbuilt Horizon. This target has been established following
      395 words
    • Article
      VMF-Stork asks for government help
      210 9 AMSTERDAM: VMF-Stork, the largest Dutch engineering group, has called on the government to take a direct shareholding In the company to meet its financial problems. Partial solutions such as that provided by the recent state guarantee of 100 million florins for the diesel engine division
      210 words
    • Article
      Lock icon Itel issue priced at par
      110 9 BONDS AND DOANS Reuter LONDON: The Itel Finance International NV US$25 million guaranteed debentures Issue due 1988 outside the US has been priced at par, Kidder Peabody International said. The issue, by a whollyowned subsidiary of Itel Corporation which has guaranteed the debentures, will have
      Reuter  -  110 words
    • Article
      Iranian placement subscribed fully
      100 9 TOKYO: The Industrial and Mining Development Bank of Iran's private placement of a 10 billion yen, 7.8 per cent 10-year bond at par was fully subscribed, Industrial Bank of Japan said as lead manager. The bond was the first yen-denominated Issue by a West Asian borrower
      100 words
    • Article
      Lock icon Spanish Eurobond
      53 9 Reuter. MADRID: The Ministry of Finance confirmed that Spain is negotiating a Eurobond Issue for 200 million marks. A spokesman said the terms were likely to be for 10-year maturity, with an Interest rate of 6 per cent. Bond market sources In Frankfurt named Dresdner Bank AO as
      Reuter.  -  53 words
    • Article
      Ford (A) surprises motoring industry
      244 9 ASIAN COMPANIES MELBOURNE: Ford Australia stunned the automotive world by announcing a profit for 1977. At A$4 million, It was way down on the previous year's record burtlng profit of $21.4 million, but It was still enough to start Ford executives gloating. For it came
      244 words
    • Article
      Cranes for Hongkong
      100 9 HONOKONO: Richards and Walllngton Industries and the Slme Darby Oroup have formed a Joint crane hire company. Trading as Crane Rental and Rigging (HK) the venture is in equal partnership. The new company will operate a fleet of lorrymounted cranes up to 125 tons capacity. Crane Rental
      100 words
    • Article
      NISSAN
      67 9 TOKYO: Nissan Motor Co said It plans to offer a total of 50 million capital stocks for public subscription at a market price in May to increase Its capital to about 69 billion yen from 06.5 billion. The offering aims at Improving the ratio of net worth to total
      67 words
    • Article
      Lock icon Nippon Oil confident
      134 9 Reuter. TOKYO: Nippon Oil Co said it expects a record 32 to 33 billion yen be fore-tax and special Items profit for the year ending March 31, compared with the record 21.17 billion yen the preceding year. The sharp rise Is due mainly to a huge exchange
      Reuter.  -  134 words
    • Article
      Lock icon More funds for Bougainville
      277 9 Reuter, AFP MELBOURNE: The Bank of America and the Australian government-owned Commonwealth Trading Bank have agreed to Erovlde Bougainville Copper td with loan funds totalUna up to US$6O million by end-1978, Bougainville said. Its 1977 annual report said the two banks will lend equal amounts which
      Reuter,; AFP  -  277 words
    • Article
      Lock icon Unisouth
      28 9 Reuter. UNISOUTH Ltd of Hongkong revealed Interim dividend of 30 cents (same), for the year ending March 31 on capital increased by one for 20 bonus Issue.
      Reuter.  -  28 words
    • Article
      Harris Bankcorp acquires interest in Int'l Pacific
      293 9 CHICAGO: Harris Bankcorp, Inc.. parent company of Harris Bank wnlcn operates a representative office in Singapore has acquired a 40 per cent Interest In International Pacific Corporation (Holdings) Pty Ltd., Sydney. Charles Bliss, president and chief executive officer, said this at the annual
      293 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      439 9 THESE ARE THE BOOKS THAT HITLER BURNED Vm mIM S«» Vw a". w \iMel2fibE af -IjUji m i >) .1 i u I iiliH ;i 4 4 Sy \T()p 'CON THE GREAT BOOKS OF WESTERN CIYILIZATION These are the books that had to burn. For within the GREAT BOOKS are
      439 words
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  • Article
    SHARE INFORMATION SERVICE
    2406 10 Gr'i Gr'« Nat 1177/1 »78 Laat Dhr Dhr rw P/E Vol Day Hl«h Low Coapuy Sale +er» Crr cm) High Lew SECTION ON* INDUSTRIALS 170 132 Acma 170 +6 12.0N 1.8 7.0 7.0 31 170 166 280 165 Alcorn 280call unch 15.0 2.2 5.3 13.8 I 280
    2,406 words
  • Article
    Transactions in Singapore
    1489 10 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with tbe number of •bare* traded ibovn In brackets in lots of 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the world "sett." Big Board
    1,489 words
  • Article
    Government bonds
    152 10 Rep Spore D Mark 7% 1982 (100.000) (1038 103SS) Rep Spore C 1/2% 1983 (100.000) (102 SB 103 SS) Rep Spore 7 3/4% 1987 (100.000) (9958 9SSS) 4 3/4% 1/5/79 (250.000) (100.70B) (2) 100.80 5 1/4% 15/10/79 (250.000) (101.308 101 425) 5 3/4% 1/8/78-80 250.000) (101.15B) 4 3/4%
    152 words
  • Article
    Corporate bonds
    402 10 Australian D B 10% 1982 (100,000) (98",B 99' iS) B OT 8 1/2% 1981 (100,000) (101'aB 101 ««S) B O T 7 5/8% 1984 (100.000) (9558 96'*S) B O T Floating 1984 (100,000) (99'«8 99%5) C Itoh 8 1/8% 1984 (100,000) (95' iB 965) LTCB J 1982 (100.000)(99'.B
    402 words
  • Article
    Unit trusts
    161 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' price a for Mar 20) (Current pricea) The Commerce 1.82 1.83 INCOME BOND 1.10 1.17 The Saving Fund 104 1 lOxd S'pore Prog Fund 085 0 90 MARA BUMIPUTRA FUND S'pore Security (Managers' pricea for Mar 28 Fund 1.67 177 First
    161 words
  • Article
    Stock options
    46 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 options traded shown in brackets. Sime Darby (March 13.40) (0.488 0.565). St Steamship (June 52.10) (0.2K8).
    46 words
  • Article
    In Kuala Lumpur
    1629 10 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number ot shares traded shown In brackets In lots of 1,000 'vnlts unless otherwise specif!.«d. INDUSTRIALS Acma (1.68B) (2) 1.68. (2.488 2.508) (1) 2.90. Alcam (2.858) (1)
    1,629 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      568 10 MS Orchard Road, S'pore I. Tel: *****2 Come and be enchanted by the repertoire of the dynamic duo Adam and Ben (appearing for a short season only). Daily (except Sunday) open till 2 am the Pebble Bar. Coffee Shop Our Quick Businessmen's Lunch for the week. Specially prepared by our
      568 words
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  • Article, Illustration
    Sime leads way in active trading
    596 11 SINGAPORE THE Sime Darby Group led the way on (he Singapore stock market yesterday in active trading. Buyers turned out in full force and their vigorous bidding for Sime and Conspiant resulted in gains extending up to 15 per cent •t the height of
    596 words
  • Article
    KLSE closes week on firm note
    392 11 THE Kuala Lumpur stock market yesterday closed the week on a very firm note with a number of counters recording very substantial gains. The market was apparently reacting favourably to Sime Darby's group bundle of bonuses" accompanying the fairly good set of interim results
    392 words
  • COMPANY NEWS
    • Article, Illustration
      UE sees need to find other export markets
      769 11  -  By ARTHUR NG RECOVERY prospects at United Engineers Ltd (UE) hinge heavily on an upturn In the private sector and on expansion of Its export markets. This Is the indication given by the outgoing managing director, Mr. Eric H. Walker, In an
      769 words
    • LATEST RESULTS
      • Article
        GEORGE KENT (Malaysia) Berhad:
        81 11 i pre-tax pro.llllnn «n. Ik. Group r*i ha rit of MSI .74 million for the nine months ended Dec 31, 1977 against $2 million for the year ended March 31, 1977. Group net profit $1.08 million ($l.ll million) after taxation of $658,431 ($889,728). Parent company pre-tax
        81 words
    • Article
      Tractors expected to break record
      726 11  -  •y MANO SABNANI ONE OF THE more pleasant surprises in the half-time results of the Slme Darby group of companies released on Thursday was the unexpected advance In sales and profits reported by Tractors Malaysia. This 75 per cent-owned subsidiary of Slme performed beyond its
      726 words
    • Article
      DIVIDENDS ANNOUNCED
      488 11 Curt sat paya^at Ex Date Book* Close Date payable Total for the year Total for pre*iout year Perlia PU>Uti«M 12.5% Feb 3 Feb 18 Mar 23 22 5* 10.3% WUktaeoa 16% Mar 14 Mar 30 Mar 30 24* 20% UhBwut •*<<11 Mar 13 Mar 23 Mar 31 6*
      488 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      88 11 \KY m V? ss PENINSULA HOTEL Coleman Street, Singapore 6 Tel. *****1 QUEEN S HOTEL 24 Mount Elizabeth, off Orchard Road Singapore 9. Tel: *****8 RAFFLES HOTEL 1-3 Beach Road, Singapore 7 Tel: *****1/***** SEA VIEW HOTEL Amber Close, Singapore 15 Tel: *****22 SHANGRI-LA HOTEL 22 Orange Grove Road, Singapore
      88 words
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  • Article
    Compulsory inspection of private cars under study
    296 12 IN PARLIAMENT THE Ministry of Communications is looking into the feasibility of introducing compulsory inspection of private cars which are over two years old. Mr. Ong Teng Cheong, Senior Minister of State (Communications), told the House yesterday that the object of the move
    296 words
  • Article
    EEC a tough nut to crack
    726 12 AUSTRALIANS WALLED IN AUSTRALIA has reached a political Impasse with the European Economic Community over the Common Market's trade barriers, an Australian minister said In Canberra yesterday. Mr. Vic Garland, Minister for Special Trade Relations who recently visited Brussels and other European capitals In
    726 words
  • Article, Illustration
    Carter firmly backs fair and open trade
    467 12 PRESIDENT Carter was "firmly committed to fair and open" international trade, despite the fact that the United States had a trade deficit of U5526.55 billion (Ss62 billion) last year. "Commercial relations with the rest of the world enabled our country to develop, prosper
    467 words
  • Article
    Lock icon BOON FOR MANILA
    507 12 UPI. OUTGOING US Ambassador David Newsom said the Philippines Is expected to be among the principal beneficiaries of US tariff reductions to be discussed In the forthcoming multilateral trade negotiations In Geneva. Mr. Newsom, who has been named US Undersecretary of State for Political Affairs, said that
    UPI.  -  507 words
  • Article
    LONDON STOCKS
    792 12 LONDON, Frl. Prices closed easier today after a relatively quiet session, dealers said At 3 p.m.. the Financial Times Index was off 0.6 at 457.7. In equities. BP gained almost 20p following reappraisal of Its full year's results, while GEC ended a net 12p down following a leading
    792 words
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    Lock icon Stay in the dollar investors advised
    155 12 Reuter. DOLLAR holders should stay In the dollar market for the time being unless In urgent need to meet commitments in other currencies. The Emir of Kuwait's Senior Economic Adviser Khalld Abul-saud said investors would lose if they moved away from the dollar. One
    Reuter.  -  155 words
  • Article
    Tax-free foreign banking zone in NY urged
    212 12 NEW YORK State official* have called for the eatabliahement of a tax-free foreign banking lone to create thouaands of new jobs and make New York the international money centre again. They urged creation of domestic international banking facilities which would handle Euro-dollars in
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    Lock icon Oil mills gutted
    60 12 Reuter. FIRE damaged machinery worth about Ssl4 million in one of the biggest coconut oil mills in the Philippines on Thursday night, police said yesterday. T'.ie fire started In an expeller unit and damaged 13 of the 16 mills of the Lu Do and Lo Ym Company
    Reuter.  -  60 words
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    Lock icon Trade and fiscal measures planned
    484 12 AFP, Reuter JAPANESE Finance Minister Tatsuo M\*rayama yesterday Indicated that Japan would take surplus-reducing measures not only In the monetary field but also in the trade sector. The yen's recent appreciation apparently reflected the nation's balance of payments surplus which is now believed certain to
    AFP,; Reuter  -  484 words
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    Lock icon Germany closer to its growth target
    366 12 Reuter. WEST German Economics Minister Otto Lambsdorff said the chances have risen for his country to meet its 3 5 per cent 1978 growth target. Because of stagnation at •the end of last year, production will have to expand by ht least 4.5 per
    Reuter.  -  366 words
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      328 12 The first new idea in encyclopaedias in over 200years-Britamka 3 Britannica 3 does what no other encyclopaedia has ever done before: It serves the three basic needs of users in three distinct ways. That's what makes it the most useable reference work ever developed. That's why Britannica 3 is the
      328 words