The Business Times, 19 August 1978

Microfilm: NL9799
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, AUGUST 19, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Lock icon Thai CPI up
      76 1 Reuter. BANGKOK, Fri. Thailand's national consumer price index rose 6 per cent in the first six months of this year, and is expected to rise further in the second half, the Bank of Thailand said today. The rising price index, especially on food items, stemmed from a
      Reuter.  -  76 words
    • Article
      Lock icon EEC halves deficit
      48 1 Reuter LUXEMBOURG, Fri. The European Economic Community halved its trade deficit with third countries in 1977, according to figures released today by the Statistics Office. The 1977 deficit dropped to 6.9 billion European units of account (8117.7 billion) from 15.4 billion EUA in 1976. Reuter
      Reuter  -  48 words
    • Article
      Lock icon Business doubled
      69 1 Reuter. FRANKFURT, Frl. Major West German banks more than doubled their business volume to 1,770 billion marks (551,982 billion) at the end of 1977, compared with 818 billion at end-1970, the Bundesbank said. The annual average growth rate was 11.7 per cent in the past seven years. There
      Reuter.  -  69 words
    • Article
      Lock icon Inflation stirs
      63 1 Reuter. LONDON, Frl. Britain's annual inflation rate has increased for the first time In more than a year, according to government figures published today. It rose from 7.4 per cent when measured In June, to 7.8 per cent measured In July. This follows a fall every month since
      Reuter.  -  63 words
    • Article
      Lock icon Manila budget
      67 1 Reuter. MANILA Frl. President Marcos today signed Into law the Philippines' 32.2 billion peso (about Ss9.Bbillion) Budget for next year, exactly one week after the country's first legislature under martial law approved It. The Budget, which will finance the government's various expenditure programmes For next year, does not
      Reuter.  -  67 words
    • Article
      Lock icon Coffee price hike
      88 1 AP. LONDON, Fri. As experts try to assess frost damage to coffee trees in Brazil, reports of a meeting of Latin American producers in Bogota next week fuelled fresh price hikes today on the London coffee market. Also contributing to the rise, fairly modest by previous sharp
      AP.  -  88 words
    • Article
      Lock icon Good and bad
      78 1 UPI. WASHINGTON. Frl. The US economy grew faster in the second quarter of 1978 than earlier reported, but Inflation edged steadily upwards to 10.7 per cent, the government said today. Output between April and June increased 8 per cent up from the 7.4 per cent estimate released
      UPI.  -  78 words
    • Article
      Lock icon Dow Jones
      52 1 UPI ;FL stocks struggled for direction early today in brisk trading. The Dow Jones Industrial average, which gained 5.54 points to a 13month high yesterday, was off 0.51 point to 899.59 around 1500 GMT of the 1,491 issues crossing the tape. 513 declined, 508 advanced and 470 remained
      UPI  -  52 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      142 1 Rises Most active Ayer Hitam Tin 1200 150 Sthn Kin La 9TP1975 C AC Conaplant Wrta 700 780 565 448 +85 +30 +20 +20 ran EJectnc Sime Darby Harimau Cona Plant City Dev 941,000 830.000 387,000 372,000 8 Finance 255 1# 359,000 Metro HM(* 224 16 Total
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    • Article, Illustration
      In Kuala Lumpur
      171 1 Rites Most active M. Tobacco Malayan gta T and City Sanyo A. Amal 9.15 14.20 1.48 4.22 6.45 .25 .20 +.18 .18 .15 8 Darby 809,000 Gold Coin 467 ,000 Haw Par 450 000 Consplant 405,000 K. Kampar 3.70 +.10 Total Turnover: 7.31m S. Dredge 4.96 +.10
      171 words
  • Article
    Making the bright ones stay on in Civil Service
    373 1 TOWARDS A VALUE SYSTEM CIVIL servants will find their terms of employment more competitive with the private sector In 12 to 18 months. This Is the Ume set by the Prime Minister for adjustments to be made to attract and retain
    373 words
  • Article
    Culture and science in education
    679 1  -  By QUEK PECK LIM SINGAPORE has to build Into its education process a value system which will encompass on the one hand a philosophy, a complete culture system and on the other a mastery of science, technology and understanding of the scientific approach. This Is
    679 words
  • Article
    Lock icon JAKARTA'S OIL SALE FEARS
    110 1 AFP. INDONESIAN Foreign Minister Mochtar Kusumaatmaja yesterday expressed concern over the possible reduction of oil exports to Japan, Indonesia's main source of revenue, following the signing of the Slno-Japan Treaty of Peace and Friendship. Speaking after a meeting with Japanese Ambassador to Indonesia, Mr. Hldemlchl Klra,
    AFP.  -  110 words
  • Article
    Petroleum stays in the No. 1 spot
    760 1 PETROLEUM and petroleum products topped Singapore's commodity trade last year, increasing by 15 per cent over 1976. Total trade In crude petroleum, petroleum products and fuel oil for ships and aircraft was worth $12.6 billion compared with 110.9 billion In 1976, according to
    760 words
  • Article
    Submarine cable contract goes to Nippon Electric
    292 1 THE Singapore and Indonesian governments have agreed to award Nippon Electric Company the eeatract to build the submarine cable system between the two countries. A latter of intent for the UBWO million ($72 million) contract wns sent yeotordny to the Japaneae company, which
    292 words
  • Article
    Telecoms brings the world to MNCs
    475 1  -  »r SIVA ARASU 'TELECOMMUNICATION* Authority of Singapore (Telecoms) is planning to introduce a special transmission service that will enable multinational companies in Singapore to send and receive Information from all their overseas offices simultaneously. The service, called Private Network Message Switching (PNMS), will start
    475 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      7 1 I rcrctl Line s SEE PAGE 3
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    • Advertisement
      Page 1 Advertisements Column 2
      98 1 Leader Page 6 JftTiMEYBUCWIE Tb BWWEST. Chances are that at Pan-West we have just the right equipment to help improve your game At Pan-West we stock the finest range of top quality golfing equpment Confidence. Honma, Lynx to name a few Drop in on us and browse around. Take a
      98 words
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      Page 1 Advertisements Column 3
      8 1 n mkmopad z, crosswords UUSTOW 7. STRAWS lyfclil
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      Page 1 Advertisements Column 4
      91 1 T)aNCMK*»: business SI N G A ?O R BUbINtSS Catch the super speed special from Oc6 Oce-Hagemeyer has a real special from Holland. After tremendous success in Europe and America, the Oce 1700 is now introduced in Singapore. Revolutionary flash exposure combined with Oce's special toning system results in copying
      91 words
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  • TRADE AND INDUSTRY
    • Article, Illustration
      Terraced unit sales signal market rebound
      407 2  -  •y TIO TECK WEHG BUYERS' confidence has, In general, returned to the residential property market with terraced houses, in particular, enjoying fairly good demand. This Is evident in the recent spate of sales of these units, especially in the $90,000 to $150,000 price range.
      407 words
    • Article
      KL metal technology centre welcomed
      439 2 MALAYSIAN Industrialists welcome the establishment of the Metal Technology Centre (MITEC) which is expected to spearhead development of the metal-based support industries in the country. They have, however, suggested that appropriate industrial development policies be introduced to facilitate the growth of such Industries. The Ms
      439 words
    • Article
      Watch dealers to push Swiss quartz
      364 2 AGENTS OF Swiss watches in Singapore will plug the message that Swiss quartz watches are definitely comparable to the more popular Japanese brands. The public here relates quartz watches to Japanese brand names, although the Swiss are pioneers of quartz technology. Because of customers'
      364 words
    • Article
      Lock icon THAILAND SLIPS IN TOURIST ARRIVALS
      141 2 AP. THAILAND ranked fourth in tourist arrivals in the region last year; behind Hongkong, Singapore and Malaysia, the Tourist Organisation of Thailand (TOT) announced. TOT's deputy director Thamnoon Prachuabmon said Thailand has slipped from third to fourth position with 1.14 million tourists visiting the country
      AP.  -  141 words
    • Article
      Lock icon Isuzu's Thai venture
      82 2 AFP. THE JAPANESE motor manufacturer, Isuzu, has entered Into a joint venture with a Thai company for the manufacture of dlesel engines, the Thai Board of Investment reported yesterday. A spokesman for Uie board said Isuzu Engine Company (Thailand) would hold 41 per cent of the shares
      AFP.  -  82 words
    • Article
      Government sponsors publishers' visit to EEC
      379 2  -  •y WANG LOOK KEAH THE TRADE Department Is sponsoring a 10-member mission of publishers and Enters to the European onomlc Community In mid-October. This Is the first time the government is supporting the publishing and printing industry in its export drive in this manner.
      379 words
    • Article, Illustration
      Men's new look at British Airways
      201 2 SOME IS,OOO male staff of British Airways will get a new look. Representatives of uniformed staff from the airline s stations in Singapore, Malaysia, Thailand and Australia recently attended a preview of the new uniform. Making the presentation here was the airline's uniform supplies
      201 words
    • Article
      Packaging industry centre planned
      296 2 THE Singapore packaging Industry is planning to set up a centre to assist producers in packaging design and techniques and to promote local packaging products here and abroad. A group of manufacturers In the Industry will draw up plans for the centre on their return from
      296 words
    • Article
      Lock icon Busy Korean builders
      97 2 AFP. SOUTH Korea won a total of U856,057 million (8113.6 billion) worth in construction contracts from overseas, mostly in West Asia, In the first six months of this year. Industrial sources reported that this figure favourably compares with $3,515 million for the whole of last vear. Under
      AFP.  -  97 words
    • Article, Illustration
      VISIT BY BONN MINISTER
      58 2 THE West German Minister for Economics, Count Otto Lamsdorff (above), will be in Singapore for a two-day visit starting tomorrow. During his visit, he will hold talks with Prime Minister Lee Kuan Yew, Finance Minister Hon Sui Sen and the Minister for Foreign Affairs S. Rajaratnam.
      58 words
    • Article
      Traffic signals to go on-line
      149 2 THE GOVERNMENT will spend $6.5 million to computerise 150 traffic and pedestrian signals In the city area. When the computerised system goes Into operation by the end or 1980, motorists can expect better traffic management In the city area as traffic flow and conditions become
      149 words
    • Article
      Clarion call to all car stereo buffs
      153 2 CLARION will be Introducing a $2,000 hi-fi component car stereo tor the first time in Asean when It exhibits the fullline set In Singapore at the International Motor Show, from Aug 25 to Sept 3. A demonstration set, the Clarion G5Ol series, will
      153 words
    • Article
      Joining hands to promote Malaysia
      429 2 TWO TOP-level Joint committees have been set up In Malaysia to foster greater cooperation and coordination in the work of the Malaysian Airline System (MAS) and the Tourist Development Corporation (TDC) to promote tourism in Malaysia. According to the latest Issue of Berlta Mas, the
      429 words
    • Article
      Lock icon INTEL EXPANDS IN PENANG
      151 2 AP. INTEL Corporation, an American electronics firm, plans to expand Its operations In Penang. The president of the company, Dr. Gordon Moore yesterday said the state's pragmatic and far-sighted economic policy would attract more foreign investment, partlculary In the electronics field. Dr. Moore was In the
      AP.  -  151 words
    • Article
      MEMO PAD
      421 2 COURBES AND TALKS Aug 7-28: Cost Accounting and control, Hotel Royal, NPB Aug 7-29: Marketing management, Holiday Inn, NPB Aug 12 Sept 2: An understanding of company law, SIM, SIM Aug 14 25: Income tax law and practice, SIM, SIM. Aug 14-10: Role of the supervisor, PSA Central
      421 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      167 2 A Large International Fertilizer Producer has an opening for a MANAGER MIOTECNNICAL MARKETING For the Companies NPK Division in Malaysia. The job requires extensive knowledge and experience in the Malaysian Fertilizer Market, and knowledge oi the NPK Market in particular would be of definite advantage. The successful applicant would have
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      581 2 t -11-OIE CBOSSVOBD U CRYPTIC PUZZLE ACROBS 1 Like certain days In September, etc. (5) 0 Black thing, possibly (5) 0 Less close to father, we hear < 7 > 10 Operation that means hard work (5) 11 One way to desire a charmer (5) 12 Joiners' nautical manuscript (5)
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  • OVERSEAS
    • Article
      Lock icon UK reins in money growth successfully
      966 3 Reuter. BRITAIN'S monetary authorities on Thursday restated their determination to continue tight control over the growth in domestic money supply and extended for eight months to mid-1979 the "Corset", aimed at curbing Increases In banks' Interest bearing eligible liabilities (Ibels). Following its introduction on
      Reuter.  -  966 words
    • Article
      Lock icon Record $61b export of farm produce this year
      241 3 UPI. THE United States, stepping up exports to the Soviet Union and countries In South-east and East Asia Is expected to ship a record U5526.6 billion (5561.2 billion) worth of agricultural products abroad in the current fiscal year, the Agriculture Department reported
      UPI.  -  241 words
    • Article
      Lock icon Price meeting of coffee growers
      407 3 AP. LEADING Latin American coffee-producing countries will hold a meeting on Tuesday and Wednesday to discuss the market and E rices in the light of recent ad weather in Brazil. Delegates from Brazil, Colombia, Mexico, El Salvador, Guatemala, Costa Rica, Honduras and Venezuela will attend
      AP.  -  407 words
    • Article
      Lock icon Aussies' firm approach
      322 3 Reuter. AFTER a mixed performance in fiscal 1977/78, the likely extent of further improvement for the Australian economy in 1978/79 will depend on how factors evolve in a number of important areas. The Reserve Bank of Australia said in its 1977/78 annual report that there have been
      Reuter.  -  322 words
    • WORLD IN BRIEF
      • Article
        Lock icon NY CITY NOTES SALE
        607 3 Agencies. NEW YORK City will try to re-enter the public lending market this autumn, marking its first attempt at selling notes since it was forced to withdraw a city issue last November. Word of the offering a US$lOO million (Ss23o million) in notes, to be offered
        Agencies.  -  607 words
    • Article
      Lock icon Portugal signs $675m loan accord
      163 3 Reuter. PORTUGAL'S outgoing Socialist Finance Minister Dr. Vltor Constancio, has signed a new US$3OO- (5J675 million) medium-term loan agreement with a group of International banks. Dr. Constancio, negotiator of the financial agreement signed last May with the International Monetary Fund, has refused an offer to
      Reuter.  -  163 words
    • Article
      Lock icon Softer stance on tax package in Senate
      169 3 NYT. THE CAKTEB Admiaistration, appareatly fhiitwid by its Mm! la the Haas* of Representatives whea It iwlitad oompromieee oa a tax bill, took a more flexible poaitioa as deliberations btna is Ike Seaale ea Thursday. Treasury Secretary Michael Blamenthal signalled the lees ItpaUe
      NYT.  -  169 words
    • Article
      Lock icon No balanced budget in 1980 says Carter
      885 3 UPI, AP. PRESIDENT Carter ad- < mltted on Thursday that he I has abandoned nope of balancing the Federal i Budget by 1980 although 1 the gap may shrink to the 1 US$3O billion (SsB9 billion) i range by the end of his
      UPI,; AP.  -  885 words
    • Article
      No immediate plans to rejoin ILO
      111 3 THE UNITED States has no immediate plans to rejoin the International Labour Organisation (ILO) although It is encouraged by some recent ILO policy changes, said US Labour Secretary Ray Marshall on Thursday. Mr Marshall's statement came a week after a Cabinet-level committee held an
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      280 3 r s S'""» COURVO* 3*. if V' I I V A S 1 TA aj -*?U- £5 s#r-' tV* ■3&i i 2h«j gpl gflF J W i c< mm < N° Fine spirits just one of the many luxuries on which Business Times readers spend lavishly. Wanted:2s,ooo bottles of spirits
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      375 4 THE Singapore market closed slightly lower with September One RSS buyers yesterday quoted at 240.50 cents per kilo, down 1.75. The afternoon session improved slightly on reports of China acceptances for RSS 1,2,3 and 4 but fell back again Just before the close on speculative selling,
      375 words
    • Article
      RAS PRICES
      362 4 R A S. prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S prompt f o b. 240 50 241 50N 240.00 241.OON Int 1 R.S.S Sept 241.00 241.50 240.50 241.00 Int 1 R.S.S. Oct 240.75 241.25 240.25 240.75
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    • Article
      SSR AND SMR
      113 4 N(K)N SSR and SMR prices yesterday September October HAS (Current Mth) (Kon *ard Mth) Buyer* Selller* Buyen i Seller* (centi per k|) (cenU per kg) SSR 20 < 1-ton pallet) 214 50 216 50N 215.50 217.SON SSR 50 (1-ton pallet) 212.50 214.50N 213 50 215.50N MRELB SMRSCV
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    • Article
      Palm oil
      79 4 C I K North European ports, in US dollars per ton unless otherwise stated LONDON: Thunday Previoui M.i lay si.in 5% ffa bulk per tonne October Sumatra 5% (fa bulk August September October November December Nigeria 5% ffa bulk stg ROTTERDAM: Sumatra Max 5 August/Sept Ziiire-( Belg francs
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    • Article
      Closing prices
      31 4 Rubber: Aug 18 Singapore: Sept 240.50 cents (down 1.75 cents) Malaysia: Sept 245.00 cents (down 1.50 cents) Tin: M 51.830 (up $20) Official offering: 130 tonnes (down 84 tonnes)
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    • Article
      Rice
      201 4 BANGKOK rice prices were unchanged yesterday. (FOB Banfkok. In US dlrs) White IW% lew crop Ist class 397, 2nd class 382. 3rd class 377. White rice lew crop 5 per cent 372, 10 per cent 347. 15 per cent 342. 20 per cent 342, 25 per cent 327 35
      201 words
    • Article
      Produce exchange
      289 4 QUOTED prices for commodities on the Singapore produce market were steady except for coffee yesterday. According to notional quotes given by the Singapore Chinese Produce Exchange, all grades of coffee went up by $15 per plcul. The firm trend was attributed to support buying in line with uncertainty
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    • Article
      Hongkong Comes
      132 4 THE sugar market closed about 0.10 US cents lower In continued quiet and featureless trading yesterday, with 12 lots traded. The Hongkong daily spot sugar price eased 0.05 to 7.00 cents, in line with the previous New York close of 7.01/02. The cotton market held quietly steady throughout
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    • Article
      Sugar
      198 4 Terminal sugar on Thursday staged a modest mid afternoon rally partly against lower sterling but was Irregularly held In late trading to close with losses of 1.35 to 1.75 stg per tonne. Trade buying and Jobber shortcoverlng were Jointly featured, dealers said. The turnover totalled 2236 lots Including 418
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    • Article
      SPOT PRICES
      187 4 YARN and cotton In Hongkong dollars, spot exgodown: Cottoa Tart China: Blue Phoenix 20's 1.180. 32 s 2.400. 40's 2.600. (per bale of 400 lbs.) Place Goads China: Butterfly and Olobe brand unq, Dragon head una. rite lambs unq. Flower and butterfly saJsissr' Pakistan Raw Cottaa: LBS 3
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    • Article
      Coffee
      167 4 ROBUSTA futures ended yesterday's opening call about steady near the session's lows in London. Local dealer and commission house buying led to Initial gains lifting spot Sep up £50 to a high of £1,515 before profit-taking and scale down trade buying trimmed the advance. Spot Sep ended the opening
      167 words
    • Article
      Straits tin
      192 4 THE Straits tin price Id Penang firmed anothef MS2O per plcul to $1,890 yesterday. The market strengthed further following extremely low supplies of tin metal delivered by miners and with strong local covering and European demand. They also attributed the firmness to a steadier London closing. Trading was
      192 words
    • Article
      Zinc
      40 4 ZINC prices at the end of yesterday ring were £2.50 down for cash and £1.50 per tonne lower for Three Months. The market was very quiet and although prices tended to ease after opening steady in sympathy with copper
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    • Article
      Lead
      40 4 LEAD ended yesterday morning ring £3.75d0wn for cash and £4 per tonne lower for three months. Three Months traded from £337 on the pre-mar-ket down to £331.30 In the jlng before shortcoverlng •rallied prices to £334.50 on the kerb.
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    • Article
      Cocoa
      143 4 TERMINAL cocoa closed below session highs but showing gains of £19 to £5 per tonne In London yesterday. Turnover totalled 3175 lots Including 980 crosses and five options. Dealers said the market derived much of Its support from lower sterling. The morning market moved within a narrow range. Values
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    • Article
      Wheat
      168 4 CHICAGO wheat futures recovered from early losses to gain one to 2-3/4 cents a bushel in late morning trade on Thursday. Traders said prices were lifted from lows by moderate commercial and commission house buying. Some commercial buying was said to be for European accounts drawn into the market
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    • Article
      Soybean
      154 4 CHICAOO soybean futures finished up 13 to eight cents a bushel on Thursday. Brokers said prices eased several cents at the close on commercial hedge-selling and profit-taking by local traders, who were heavy buyers throughout the day. Cash grain dealers said soybean country movement was light to moderate during
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    • Article
      RUBBER MARKET AT NEW HIGH
      331 4 NOT to be outdone by steadiness In other markets, as the US dollar continued Its downward flight, rubber shot up some twelve cents to pierce a new high of 244-V4 (S) and 240 (M) cents per kilo for current 1 R.S.S., a level last seen
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    • Article
      Copper
      230 4 COPPER closed £10.50 per tonne down for cash and £9.50 down for Three Months on Thursday* Dealers said prices were Initially marked lower at the outset of afternoon dealings reflecting an easier New York market. However, the selling was well absorbed by fresh buying and shortcoverlng and values recovered
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    • Article
      Silver
      214 4 THE Hongkong market closed HK19.50 lower in thin trading, with turnover es-. tlmated at 10,000 ounces yesterday, dealers, said. The local close was equivalent to 5.4796 US cents per ounce, higher than New York and Chicago closes of 5.4130 and 5.3950 respectively. Silver on the LME ended Thursday 5.8
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    • Article
      Gold
      476 4 THE bullion market In Singapore was very nervous and hectic yesterday due to the sharp rise in gold prices from the day's opening. The market firmed again In the later part of the day and closed at a higher level. The kllobar opened at $14,987 and closed at *15,283;
      476 words
    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        646 4 THE US dollar fluctuated against major currencies on the foreign exchange market yesterday, displaying a nervous market awaiting news on ways to strengthen the dollar. After being traded up against major currencies, the US dollar eased a little when impatience set In late afternoon. However, the ailing dollar
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      • Article
        Asian $ & CD rates
        202 4 Asian CD rates ASIAN currency deposit Interbank rates as at close on Aug 17: U8 Dollar 7 days 1 mth 2 tnlhj 3 mths 6 mths mths 1) mths a 3/ii .a 7/» .a 1/2 ....a 3/4 t .a i/ia i/« S 1/16 a 3/4 8 3/8 8 5/8 8
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      • Article
        Discount
        45 4 RANOE of price* offered by dlacount houses on Aug 18: Overnight 2* J*% Call deposits -3*% CllllM 3- month Treasury bills 3 3/1 3-month Bank bills l/i 3-month CD 8 1/2 •-month CD 9/ie 3 1/4 6 3/8 7/18 Source: National Discount Co Ltd.
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      • Article
        MLR
        21 4 THE average rate ai which Singapore banks are currently prepared to lend to their beet customers is 7 per cent.
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      • Article
        Euro $ rates
        90 4 Euro rates LONDON Eurodollar deposit trading was quiet In the abaence of any .proposals on the dollar from Washington yesterday. Rates opened basically steady, around overnight levels, and have shown little subsequent change. Far Eastern Interest was negligible, dealers added. EURODOLLAR deposit* opening quote* on Aug II: Weekend 1. 2-7/8
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      • Article
        London
        253 4 THE dollar yesterday steadied somewhat from sharply lower early indications here in technical reaction to sharp falls at the New York close on disappointment with President Carter's remarks on the dollar. Trading continued very nervous and thin. Some said US Treasury Secretary Michael Blumenthal's statement he expects to announce
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      • Article
        Tokyo
        123 4 THE dollar for overnight delivery closed higher at 186.05 yen, up from a 184.50 opening yesterday. The rate fell to a day's low of $184.30 In early morning trading on limited selling by foreign banks on disappointment that President Carter proposed no firm measures to rescue the dollar at
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      • Article
        New York
        275 4 THE dollar on Thursday lost all of Its earlier gains In late trading following President Carter's statements at his press conference and It ended near Wednesday's closing levels, dealers said. Carter said the underlying strength of the US should prevent further deterioration of the dollar, provided Congress acts
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      • Article
        Treasury bills tender
        47 4 RESULTS of tender held yesterday for 91-day Treasury bills •1-day bUls to be issued from Aug 21 to 2S: Offered: Applied for: Akrtted Accepted bids: $30,*****0 $96,000,000 $30,000,000 $99.17 approximately 2ft*. higher bids in full Average rate of discount on allotment: 3 315* pa
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      • Article
        Australia/NZ
        51 4 AUSTRALIA NZ exchange* quote* yesterday US dollar 1.1MS/1 1ST Sterling 0 5924/0 4831 Ninety-day air mall buying rate*: Sterling 0.6114 U8 dollar 1.1020 Ninety-day forward buying rate* Sterling 0 5636 US dollar 1.1526 NEW ZEALAND: Sterling dealing* *uspended US dollar 1 0657/1 0657 Ninety-day airmail buying rate*: Sterling dealing
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      • Article
        Zurich
        64 4 ZURICH exchange* closing quote* on Aug 17: US 1 8480-8520 Stf 3 1974-2064 Can 1 4478-4508 D Mk 82 7102-9440 D Pt 78.3318-5415 r TT 34H18-W77 b Pr srm-xm D Kr 2» 8821 -MO 1 N Kr 31 M00-8435 S Kr 37.2343-3107 Lit 0 1978- 1984 Au» (Ch 11
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      • Article
        Hongkong
        44 4 BANKNOTE rauh quoted yesterday US 4.60/4.71 US 9.10/9 50 Burma 1.30/1.70 India 4.90/4.70 Indonesia 1.10/1.15 Japan 2.51/2.S3 Korea 0 88/0 92 Philippines 0 50/0 61 Singapore 2.00/3.11 Malaysia 2 05/ 2.07 Brunei 2.01/ 2.03 Thailand 23 40/ 23 70 Taiwan 12 90/ 13.10
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      • Article
        Frankfurt
        45 4 FRANKFURT exchange closing quote* on Aug 17: US 1.8M&/W1S Can 1 7420/40' Stg 3.860/70 D F1 92 30/40 S Fr 120 00/50 Lit 2 378/86 F Fr 45 70/85 Yen 1 0870/00 B Fr (con) 355/365 B Fr (fin) 6 235/245 N Kr 37.80/38.00
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      247 4 1? ANDREA= NEWMAN in Penguins i Newman's fir Penguins is currently ■hips leadfto tragedy. a few short months a whole family is turned intkte out 'WWbuquet of Barbed Wire gains the tense momentum of a thriller as oonvufted relationships lead to tragedy. Another Bouquet Another Bouquet is Andrea Newman's sequel
      247 words
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      Page 4 Advertisements Column 2
      51 4 m.r. "VIBHVA MOHINI" VOT: 2 arrived Ittk 1178. at P.B.A. (Mm N«. General Burvey of damaged cargo ex the above vessel will be held on Tuesday 22nd August, 1978, from 9.00 a.m. to 5.00 p.m. No further surrey will be held after tws date. Agents:R. JUMABHOY SONS PTE. LTD. Tel:-
      51 words
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  • TRANSPORT
    • Article
      Shipowners sink further in wake of foreclosures
      869 5  -  By CHAN BONG SOO A RASH of business failures in the shipping field has .found a sequel in the recent sale offer of 18 container ships in South-east Asia. But takers, apparently, were few. As far as Singapore is concerned, this can be
      869 words
    • Article
      US eases charter flight rules
      232 5 THE US Civil Aeronautics Board has unanimously approved new regulations that simplify procedures for booking overseas charter flights The rules, which went into effect on Thursday, were originally proposed by the board on March 14. They eliminate the minimum length of stay abroad, minimum or
      232 words
    • Article, Illustration
      SHIPS IN PORT
      403 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Mas (0700 after Bunga Gelang) 19 Bunga Melor (after Jurata) 31/32 Etha Rlckmers (after Quirinale) 3/4 Johneverett (2100 40/41 Kina River (0600) 23 NedUoyd Rio (1600 3/4 Selat Makassar (0700) 44 Straits Star (0600) 20 Vishva Vikas (1730 after Santiago Del
      403 words
    • Article
      Liverpool wins 5-year contract
      153 5 THE ATLANTIC Cpntainer Line, a major operator on the North Atlantic with two sailings a week from Liverpool, signed a five-year contract with the Mersey Docks and Harbour Company of Liverpool. The contract was won In the face of keen competition from other ports. It fjrovldes
      153 words
    • Article
      Lock icon US-Cuba air links
      82 5 AFP. THE first regular air service in 16 years between the US and Cuba got off the ground yearerday with a Shawnee Airlines flight to Havana. The flight, run by a small Florida air company, is the first since the US administration gave the goahead for a
      AFP.  -  82 words
    • Article
      Lock icon CHOPPY WATERS DEAD AHEAD, WARNS OECD
      635 5 FT. DEPICTING a bleak me-dtum-term outlook for shipowners, the Organisation for Economic Cooperation and Development has warned that many shipping businesses face collapse this year and next because of uneconomic freight rates. "While efforts are being made by shipowners to help themselves on a
      FT.  -  635 words
    • Article
      Lock icon Look out! Vultures at 10 o'clock high
      306 5 UPI. A COLD war Is heating up between India's national airlines and vultures marauding the skies around airports and posing a potential threat to flying aeroplanes. Last week a huge vulture totally blocked the engine of an Indian Airlines Airbus on a domestic
      UPI.  -  306 words
    • Article
      Lock icon LONDON FREIGHT
      170 5 UPI ATTENTION remained on the transAtlantlc grain trades where another good rate was recorded when the Navios Patriot secured US$7 (5516.10) (FIO) for a 60,000tonne August-September shipment from US gulf to Holland. Recent payments of that level were confined to more prompt tonnage. US Northern Range grain shippers
      UPI  -  170 words
    • Article
      Lock icon Supplier credit extended
      219 5 Reuter THE WEST German finance company Kloeckner Ina has extended for another six months the drawdown period of the US$BO million (SSIB4 million) supplier's credit granted to the National Development Company (NDC) of the Philippines for shipbuilding. The extension, the third since last February. Is necessary because
      Reuter  -  219 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      723 5 ARRIVALS Service Local Operator Number Time From CAL CI333 0040 TPE/HKG/KUL MAS MH601 0700 KUL MAS MH682 0725 KCH SIA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL CPA CX710 1005 HLP CAL CIV 1000 HLP RBA BI323 1025 BWN
      723 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      219 5 The oamhiiied effort of many of Hie warlcfts best medical minisMedical and Health Animal This decade has witnessed tremendous number of new discoveries in medicine, and some of the greatest advances in medical knowledge the world has known. Keeping abreast of all these new developments is an awesome task which
      219 words
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  • Article
    We must foot the bill to get the best
    736 6 THE GOVERNMENT will shortly be turning its hand to tackling a problem which has been growing for some time and one which cannot be ignored. The disparity In wages and conditions between the private and the public sector has widened and
    736 words
  • Article, Illustration
    Lock icon Hard bargaining behind the Bamboo Curtain
    1053 6  -  Five yars ago, China was virtually closed to the outside world; but Chinese missions are now looking at sophisticated plant for their programme of rapid industrial development. One of the main keys to future trade with China will be the ability to provide credit
    FT  -  1,053 words
  • Article
    Lock icon Foreign goods galore
    712 6 AP IN A DRAMATIC policy shift, department stores throughout mainland China are now selling western luxury goods Including Japanese colour television sets, Swiss watches and Japanese synthetic material. Visitors report the foreign goods are tremendously popular despite high prices such as US$l,6OO (553.680) for a 20-Inch Japanese
    AP  -  712 words
  • Article
    Letter from America
    42 6 JOHN TAN'S regular "Letter from America" series is suspended, as the writer has now left Washington and is en route for Brazil. He will be writing for Business Times soon on the exciting and dynamic economies of South America.
    42 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      338 6 v Ya fs. m*. m v -4 \Ki m fj ion Bar te M :a 1 9 m&L. @4p°h>lM 405/407 Havelock Road. S pore 3. Tel: *****1 Where beautiful things happen come around to lon Bar for a swinging get together where Toto and his Kids, Constellations, Sonny Bala The
      338 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      65 6 IWEAT HERI OUTLOOK for Singapore from 6 a.m. to noon today: Isolated showers in late morning. Report for 24 hours prior to 7.30 p.m. on Aug 18 at the airport: Maximum Temperature 32.2° C Associated Humidity 65 Minimum Temperature 25.5° C Associated Humidity 90 Hours of Sunshine 9.55 Rainfall in
      65 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      313 6 SINGAPORE 8 1.00 PM Opening announcements followed by Sesame Street s 2.00 Saturday Matinee Mister Scoutmaster Starring: Clifton Webb, George Foghorn, Winslow, Edmund Gwenn, Frances Dee 3.30 Fish Power Play 3.55 Soccer Malaysia Cup '78 Singapore Vs Kelantan (Repeat) 4.55 Sandiwara A Malay drama entitled "Widuri" (Repeat) with English subtitles
      313 words
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  • Article, Illustration
    Lock icon Culture scores over comfort
    824 7  -  By FRANCIS DERON AFP THE FOREIGN traveller In China in 1978 discovers not a few surprises, reminders of the 28 years of almost UAal Isolation the country has Just been through. Last year, 340,000 foreigners visited China and one ir.llllon more are expected by the end
    AFP  -  824 words
  • Article, Illustration
    Lock icon HK's vanishing rickshaws
    445 7  -  By ANGELA TANG, AGNES CHEN UPI THE RICKSHAW not so long ago was synonymous with Hongkong, as much a part of the lore attached to the colony as the world of Suzy Wong. Thousands of the two-wheeled carts, pulled by wizened but seemingly indefatigable men, were to
    UPI  -  445 words
  • Article, Illustration
    STRAWS IN THE WIND
    496 7 MY COMMENT on Tuesday about the Marco Polo's continued use of crockery monogrammed "Hotel Malaysia," for Its outside catering service, drew the following enlightening reply from the Marco Polo: "The Marco Polo gives full marks for Zephyr's eagle eye In spotting the monogram on our outdoor
    496 words
  • Article
    They didn't accept his US dollars
    982 7  -  FOBPMI ■y TAD BARTIMUS Tad Bartimus is a writer for Associated Press. FOR 20 years John Stewart and his wife dreamed of cofklng back to Europe to relive Its romance. When they finally made It they found strikes, Junk food, shoddy service and a
    982 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      337 7 ■> A I > .v. %?,Y J New Japanese Restaurant KIKU^I serving authentic Japanese food KIKU Tepj:>an Yakki *lemfxjra Shashimi Sukivaki *ShaixiShabu JAPANESE RESTAURANT ORCHID INN Tel *****2 214 Dunearn Road. Singapore 11 What is it about the Imperial Bar that brings them in night after night? The entertaining live
      337 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      63 7 Bristol: RanX DiciSeuS CV<JtR UP, ,6^l WVWTS "fue HtuJS w TUe r# PoStTON FSS vtePO CF L PCCDUNTS ...0 J CHGG*. v>P UC StvJg V CVf CPktfete TU£ BfNLPNC£> P»HO W£ 'CH££R up- li eai SB>/S I rnRS u*u_ luilN IT fry R STRC^T NoKseNSe' Fuetxß IN CMRK&e OF ACCOUNTS
      63 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Strong Milan prices
      351 8 EUROPEAN MARKETS MILAN stock prices strengthened in increased trading on Thursday. Italslder. Flat, both Ollvettls, Flnslder, Montedison, Asslcurazioni Generall and Bastogl all mined points, while both Pirellis and Snla Vlscosa weakened. Zurich prices rose In fairly active turnover underpinned by the strong recovery of the dollar and
      351 words
    • Article
      Milan
      88 8 ,~A Vii 17 Lire »,.'AU1C Assoc Gen Hastogt .'"Ci'htiule "Wen Immob H-fPrl Iralrementl Uaig.is 'Iialsider "MUlflirll M Pi Marelll Ere Mediob -> -.Mundadorl Miinledsn *h>tta Bio OUvlOrd .Oilvt Prl Pierrel Pirelli EC PirelliSpr Vtsqn Unidal 110 ***** 509 3805 1977 154 7425 2384 ***** 757 330 478 320 *****
      88 words
    • Article
      Paris
      273 8 AUG 17 Frs CORBEILLE Air-Llqulde 331 B S N Of rvais Uanone 510 CS F (ThomsonCSf) 302 Or Francatse des Petroles 138 Cutnpagnie Financtere Compagnie Generate 377 Credit Fonder n lie France 391 Hachette 234 Machines Bull 46.50 Ntjchelln(B) 1340 Paylbas 183 twhiney Clgine Kuhlniann 90 t ,Pe.ugeot Citroen
      273 words
    • Article
      Amsterdam
      197 8 AUG 17 ABN 363 50 +3.5 Ahold 111.00 1.8 Akzo 3100 -0.2 AMEV 84.70 1.1 Amfas 111.00 1.3 Amrot Bank 78.80 1 Bergoss 59 80 1.3 Berk 95.50 -0.3 Bols 72.00 +0 8 Borsumlj 156.00 .+3 Burhmann 71.10 +0.1 Byenkorf 92 80 -0.3 C41ve Delft 172.00 -1 Dell Ml)
      197 words
    • Article
      Frankfurt
      192 8 AUG 17 Dm Aef-Telefunken 79.40 -0.2 Akzo 28.80 -0.5 Allz Leben AllzVers 482 1 BASF 132 SO 1.8 Bay HTWbank 290 BayVtwnk 330 Bayer 135.SO 13 BBC 307.50 BMW 225.50 -1 Cassella 387 -3 Ctiem Verw 279 +3 Commerzbank 231 +0.5 Contl Oummi 79.50 -0.8 Daimler-Benz 317.90 +0.4 Degussa
      192 words
    • Article
      Brussels
      94 8 AUG IT rrt FORWARD MARKET Acec 382 4-1J Arbed 2400 25 Astur 834 -10 Br&scan 487 20 Bru-Lamb 1525 unch Canpac 040 54 Cock 430 -3 De Beers 229 -5 Ebes 2200 unch Electrobel 8770 20 Ob-Inno-Bm 2335 ♦5 Oev 1350 unch Hobok 2406 -45 Petro 3770 -25 Ryl
      94 words
    • Article
      Zurich
      181 8 AUG 17 Francs Action* Sulsses 296 +2 Alusulsae Br 1200 10 Alusulsae Reg 570 +83 Brown Boverl Br. 1440 +20 ClbaGelgy Br 1000 +45 ClbaQelgy PC 700 unch ClbaGelgy Reg. 558 -1 Credit Sulaae Br Credit Suisse Reg 417 unch Elektrowatt Br 1870 +10 Oeorge Pitcher Br 820 +S
      181 words
    • Article
      BROAD RALLY
      885 8 NEW YORK STOCKS staged a broad rally in heavy tradinc on Thursday on hope* that President carter will «**rete steps to support the US dollar. Analyst* said Mr. Carter's statement on Wednesday of concern for the dollar's pilch t would sustain the market for a while, but. without
      885 words
    • Article
      Toronto
      196 8 AUG 17 C8 Abltlbl Alcan Algoma Bank Mont Bank Nova Scotia Bell Tel Beth Corp BP Can Ltd Braacan Camp Red Lake Can imp Bk' Canpac Canpac Inv Pf darling O'Keefe Comlnco Con* Bath ConaMarbenor Dankoe Denlaon Dom Stores Dom Tar Dome Mines Falcon bridge Faiconbrldge Cop Oenatar Ot
      196 words
    • Article
      Jo'burg
      94 8 AUG n (tend MININGS 610 •15 im 1730 -M 615 •15 MSB 5158 •IS 490 +5 De Been Def 760 •IS 650 1420 -50 115 •IS 670 -s 196 Tim •100 3300 -50 2650 -50 in -13 2425 -125 695 -M Bool 1064 -M LMIM L1M1MM1 MMdWIU 106 1000
      94 words
    • Article
      Lock icon Turnover still light
      610 8 TOKYO Source: DBS-Daiwa THE market was relatively firm yesterday, centring on exportrelated Issues such as ughtelectrtcal and precision machinery issues because of news that the Dow-Jonas Average on Wall Street has reached the 900 level for the first time since July 30.19T7 whenltwasMS.it. Turnover continued light and
      Source: DBS-Daiwa  -  610 words
    • Article
      Lock icon Hongkong
      419 8 Source: SHK Sec REPORTS that Cheung Kong had pre-sold its Admiralty site project for around HKSI billion further encouraged local Investors and the market rose strongly again. Utility shares were again left behind as property shares led the way. Cheung Kong soared another $1 to $14.90 buoyed by broker
      Source: SHK Sec  -  419 words
    • Article
      Sydney
      330 8 COALS and banks led the market higher yesterday, with strong overseas demand for resources shares, dealers said. Among coals, Thless roae 15 cents to $3.15 following news two Japanese steel firms are seeking a stake In Its South Blackwater Mine, while White Industries roae 32 to $2.93, Howard Smith
      330 words
    • Article
      Manila
      94 8 AUG 1* Pesos Aco)e Mining Atlas Con A Atlas Con B Bagulo Gold BenguetCon. B BF Goodrich CDCP Inco B Landoll Lepanto B MarUlduqueB Meralco Oriental A Oriental B Phil Overseas Phi lex A PhllexB PlCOpA Pleop B Pioneer purr Podco B Poget San Miguel A San Miguel B
      94 words
    • Article
      Bangkok
      101 8 AUG 18 Baku Bangkok Bank 37« uneti Bank of Ayudhaya 210 Ltd -1 Thai Danu unq Thai Farmers Bank 272 Thai Commercial Bank unq Bangkok Metropolitan Bank unq V Industrial Finance Corp 2.435 -25 General Finance 304 -4 Bangkok Investment 312 First Trust 292 -2 Raja Finance unq Lee
      101 words
    • Article
      Selected indices
      65 8 FINANCIAL TIMES INDUSTRIALS Thursday 509.3 Wednesday 510.0 Week Ago v 514.0 DOW JONES AVERAGE INDUSTRIALS Thursday 900.12 Wednesday 894. SB Week Ago 885.48 LONDON DOLLAR PREMIUM Thursday 1. 98% to 99% Wednesday 100 to 100H H.K. HANG SENG Friday 680.13 Thursday 000.42 Week Ago 824.22 SYDNEY INDUSTRIALS Friday
      65 words
    • Article
      CHICAGO BOARD OPTIONS
      1652 8 August 17 CHICAGO Board Options Exchange volume expanded to 185,504 contracts on Thursday from 151,375 on Wednesday. OPTIONS OCT JAN A PL STOCK Alcoa 40 81/2 03/4 UNTRD 411/2 Alcoa 45 43/4 51/2 UNTRD 481/2 Alcoa 50 13/4 3 41/4 411/2 Am Tel 56 UNTRD UNTRD UNTRD
      1,652 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      536 8 FROM till* •Wttia tWlfwrlfM j j Politics and Government in Malaysia j Politics and Government in Malaysia is concerned with the substantial political j j changes that took place in Malaysia after Independence in 1957 and especially j J during the last ten years. Among these are the May 1969
      536 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Forex gains lift Royal Dutch quarterly
      733 9 EUROPEAN L. Reuter OWING to large currencv gains Royal Dutch/Shell group was able to boost net Income for the second quarter to £390 million from €307 million last time. Currency gains came to £108 million against a loss bf C 43 million last time.
      Reuter  -  733 words
    • Article
      ASIEN-PAZIFIK REMAINS ON PROFIT GROWTH PATH
      363 9 THE ASIEN-Pazifik-Bank AG. a subsidiary of Bayerische Landesbank Girozen'trale, Munich and Hamburgische Landesbank Girozentrale, Hamburg (holding 50 per cent of the share capital of Aslen-Pa-.zifik-Bank AG) has continued to grow during the ,course of the sixth year of "business. Asien-Pazifik reported a 48 per
      363 words
    • Article
      Lock icon Veba, BP decision
      75 9 Reuter. WEST BERLIN: The Monopolies Commission Bundeskartellamt said it expects to announce a decision next month on the agreement between Veba AG and British Petroleum Co Ltd's German subsidiary Deutsche BP. although legally it has until October to rule on the planned cooperation. It said It will
      Reuter.  -  75 words
    • Article
      ABN chalks up 22pc rise in first half
      234 9 ALGEMENE Bank Nederland has declared an interim dividend of dfls 12 per ordinary share of dfls 100 face value. This dividend will be made available either wholly in cash or, at shareholder's option, dfls 5 in cash together with dfls 2.50 face
      234 words
    • Article
      UNILEVER RECEIVES LOAN
      90 9 AMSTERDAM: Unilever NV has received a maximum three-year US$34O million rollover loan to finance the acquisition of National Starch and Chemical Holding Corp, syndicate leader Amsterdam-Rotter-dam Bank NV said. The loan will be provided by a group comprising Amro Bank, Citicorp International Group, Cle Flnanclere De La
      90 words
    • Article
      Lock icon Hoechst dips
      43 9 Reuter FRANKFURT: Hoechst AG announced a first-half 1978 world group pre-tax profit of 550 million marks (630 million). Turnover was 12.13 billion (11.73 billion). Parent company pre-tax profit came to 332 million marks (402 million). Turnover 4.66 billion (4.83 billion). Reuter
      Reuter  -  43 words
    • Article
      Lock icon Nissan brings new model into US
      525 9 ASIAN A UPI. TOKYO: Nissan Motor Company, makers of Datsun cars has Introduced a new, improved sporty compact car on the Japanese market which will r) on sale In the United tates and Europe In September. Nissan president Mr. Takashi Ishihara also expressed concern
      UPI.  -  525 words
    • Article
      Lock icon Lower prices offset Bougainville sales
      404 9 Reuter. MELBOURNE: Bougainville Copper Ltd said It achieved marginally higher sales revenue (from 92.43 million Papua New Guinea klna to 97.26 million) In first half 1978 due to substantially greater sales volume which in turn was due to higher production. But the higher sales volume
      Reuter.  -  404 words
    • Article
      Lock icon Alliance Oil in the red
      49 9 Reuter ALLIANCE Oil Development Australia NL reported an audited consolidated operating loss of $54,000 (loss 205,000), for the year ended June 30 on turnover of $509,000 ($416,000) and other Income $35,000 ($33,000). Loss is after depreciation $92,000 ($97,000). Tax nil (same). Dividend nil (same).
      Reuter  -  49 words
    • Article
      Lock icon Kansai unit designs hydro electric dam in Luzon
      305 9 AFP. OSAKA: An engineering consultant subsidiary of Kansai Electric Power Co has signed a contract to design a large hydro electric power generating dam and station to be built in northern Luzon island of the Philippines. A spokesman for the new Japan
      AFP.  -  305 words
    • Article
      Steel mills keen on Thiess' coal project
      212 9 SIR LESLIE Thiess, the chairman of Thiess Holdings Limited said Thiess Bros. Pty. Limited has been holding discussions with the Japanese steel mills who purchase the coking coal production of its south Blackwater coal mines. The discussions took place between Nippon Steel Corporation
      212 words
    • Article
      Jardine unit offer
      75 9 MELBOURNE: Jardlne Matheson Industries Ltd said It declared unconditional its offer for Bundaberg-based sugar cane harvester maker, Toft Bros Industries Ltd. The company, a unit of Jardlne Matheson Austra- lia Ltd, now holds 98.34 per cent of Toft's 8.23 million issued 50-cent par shares. The Jardlne Matheson
      75 words
    • Article
      Lock icon Hardwicke's third casino hotel deal
      230 9 AP JAPANESE businessman Rocky Aoki. who said he could run casino hotels in Atlantic City, New Jersey, like a restaurant chain, has made his third casino hotel deal in this resort. Hardwicke Co of New York, of which Mr. Aoki is a principal shareholder and
      AP  -  230 words
    • Article
      Lock icon Ford to expand Argentinian operations
      175 9 Reuter FORD MOTOR Company, second among the big three American car manufacturers. will invest US$335 million by 1990 to modernise and expand its production facilities In Argentina. Mr. Juan Courard, president of Ford Motor Argentina SA said his company plans to double current manufacturing capacity
      Reuter  -  175 words
    • Article
      Lock icon TWA plans set-up
      107 9 Reuter TRANS WORLD Airlines, (TWA), parent of Canteen Corporation and Hilton International Company, said It plans to establish a holding company known as Trans World Corporation. TWA said its existing airline operation will become an Independent operating subsidiary of the new holding company and will continue to
      Reuter  -  107 words
    • Article
      Lock icon HUDSON'S BAY LIFTS PRICE
      105 9 Reuter. HUDSON'S BAY Mining and Smelting Co Ltd said It raised its Canadian price for full-plate electrolytic copper cathodes to 76 Canadian cents per pound from 73 cents effective immediately. The premium for electrolytic copper wlrebar remains at 0.625 cents per pound. Hudson's Bay also said
      Reuter.  -  105 words
    • Article
      Lock icon Phillips Norway facility
      116 9 Reuter. PHILLIPS Petroleum Co said Phillips Norway group's construction of natural gas liquids processing facilities in Britain on Teesside now is expected to continue into the second quarter of 1979 rather than be completed late this year. Phillips Norway group consists of Phillips Petroleum Co Norway, 36.96
      Reuter.  -  116 words
    • Article
      PACIFIC COPPER
      67 9 PACIFIC Copper Mines Ltd said its Australian affiliate, Pacific Copper Ltd, signed an agreement for a unit of St. Joe Minerals Corp to acquire a 35 per cent equity Interest In Pacific's Torrlngton wolfram mining venture in New South Wales, Australia. Pacific said the agreement calls for reimbursement
      67 words
    • Article
      Lock icon J. C. Penney, K Mart up
      253 9 N.AMERICAN Reuter. TWO OF THE biggest chaiir stores in the United States said their second quarter profits were higher than in the comparable period a year ago. K Mart Corporation, the second largest US retailer after Sears Roebuck and Company, reported an 18.6 per
      Reuter.  -  253 words
    • Article
      Lock icon BANKAMERICA SURE OF GOOD YEAR
      72 9 Reuter BANKAMERICA Corp reaffirmed its previous forecast that 1978 will be another very good year for the company. But, in a letter to shareholders, it cautioned against simple extrapolation of previously reported strong second quarter profit especially since net interest margins could narrow during the
      Reuter  -  72 words
    • Article
      Lock icon Freightliner marketer of Volvo trucks
      263 9 Reuter. FREIGHTLINER said It will become the exclusive marketer of Volvo heavy dlesel trucks and spare parts In the United States and Canada. Frelghtliner, a Portland manufacturer of dlesel trucks, said it will take over marketing responsibilities for trucks made by the Swedish firm by
      Reuter.  -  263 words
    • Article
      Lock icon Bank of Montreal issue
      190 9 Reuter. BANK OF Montreal said its board approved plans to raise Csl22 million through a rights offering to shareholders of record Aug 23 at a subscription rate of one additional share' of capital stock for each seven shares held at $20 a share. The bank said
      Reuter.  -  190 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      152 9 Don't let the language barrier stop you from wider r lP! to contacts m tx I T« <vJ P r-k Vw r sY X ,^o«* C \N p> \e^ S U o \e P r* c\ Vo \e ¥3 :rf V V I c Sss* jrn a i YOU SIMPLY
      152 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1630 10 BID and offer price* officially listed and Ifesineas in and reported to the StortJaehante of Singapore yesterday the number of shares traded shown in brackets In lota of 1.000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "sett." Bit Board deal (In lota
      1,630 words
    • Article
      Stock options
      41 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 option# traded shown In brackets. Sitae Darby (Sept $2.00) (1 555):
      41 words
  • Article
    SHARE INFORMATION SERVICE
    2544 10 Or* Qr'« Net Last Div Dhr Yld P/E Vol Day High Low Company Sale +or- Ctt (*88 High Low SECTION ONE INDUSTRIALS 255 132 Acma 252 -3 12.ON 1.3 4.7 27.3 17 252 250 2]| 123* Alcorn 234 -2 10.0 2.2 4.2 17.3 2 234 234 17?
    2,544 words
  • Article
    Unit trusts
    147 10 SINGAPORE UNIT TRUST INCOME BOND UNIT i Mlufen prton for Kmg 21) (CIITM m rtaas) The Commerce 2 34 2 48 INCOME BOND 1.07 1.13 The Saving Fund S'pore Prof Fund 1.47 I.M 1.13 1.30 MARA BUM1PUTRA FUND S pore Security 3.00 3.12sd Ftrst Bumtputra nt AIM 3.48
    147 words
  • Article
    In Kuala Lumpur
    1942 10 BID and offer price# officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless ot*-~rwlse specified. INOUSTNIALS Aama (2.308). Ajtn*m*ta (2.828). Al**m (2 488) (2) 2 44 A
    1,942 words
  • Article, Illustration
    Index down marginally
    881 10 FRIDAY Jitters prompted mom profit-taUqg on the Stock Exchange of Singatore yesterday causing iccups ia tone share prices. The aiarket sentiment was reflected when prices closed mixed, and the Straits Times Industrial index dropped marginally by •.17 point to 396.02 while the volatile Business Times index which
    881 words
  • Article
    KLSE mixed to slightly steadier
    692 10 THE return of some buying Interest In the afternoon gave the Kuala Lumpur stock market a mixed to slightly steadier finish Yesterday. Trading, In contrast, was easier In the morning. The volume was reduced, reflecting a slight withdrawal of interest as profit-takers made their presence
    692 words
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  • COMPANY NEWS
    • Article, Illustration
      Taking stock of convertibles
      2214 11  -  By ARTHUR NG CONVERTIBLE issues have always fascinated the serious investor by virtue of their hybrid nature since thev Incorporate characteristics of a debenture stock and those of common equity. This particular variant of capital stock Is especially useful for a company planning to raise additional
      2,214 words
    • Article
      DIVIDENDS ANNOUNCED
      276 11 Current payment Ex Date Books close Date payable Total for the year Total for previous year Pefi Malaysia L'td Malacca M Cement Pan Electric S. Darby Unaec Loan Stk M Tobacco Berjuntai L. Perak B. Kawat Island and Pen UOB Alex Hldfs Bata Paper Prod SeFProp Highlands and
      276 words
    • Article
      SCRIP ISSUES
      109 11 umpant P;»rt Kiilars Ex Date Books( SeAloa* Ply Bonus Issue of 1 for 4 Aug 30 Sept 12 Great Eutm Life M mi KrtdmilU S> nth* tic Knim Bonus Issue of 1 for 2 Right* Issue of 1 for 4 (a>$l 00 per share Rights Issue of 2
      109 words
    • LATEST RESULTS
      • Article
        HIGHLANDS and Lowland Bhd:
        62 11 Estlmuted unaudited pre-tax profit M 518.79 million ($23.49 million), for the six months ended June 30. Interim dividend 20 per cent gross (10 per cent gross plus 6 per cent net), payable Oct 20 to shareholders registered on Sept 15. Rubber output 8.58 million kilos (8.07
        62 words
    • Article
      COMPANY MEETINGS
      240 11 PAPER Products (M) Bhd: AGM to be held at the Conference Room, UMBC Building, 3rd Floor, Jalan Suleiman, Kuala Lumpur, at 12 noon on Aug 19. Amcol Electrical Industrie* Ltd: AGM to be held at 7. Kampong Kayu Road, Singapore at 12 noon on Aug 24 Berjaya Kawat
      240 words
    • Article
      NY office part of Bank Bumiputra's expansion plan
      437 11 BANK BUMIPUTRA'S new office being set up In New York Is part of Its plan to establish branch offices- in key financial centres of the world. The bank had last year set up a representative office In Tokyo which It hopes to
      437 words
    • Article
      Genting receives first insurance payment
      172 11 GENTING Highlands has received a $2.1 million cheque as the first Insurance payment for the loss of Its two helicopters destroyed by fire in Kuala Lumpur on May 27. The cheque was handed over by Enclk Nordin Hamid. managing director of Anika Insurance Sdn. Bhd.,
      172 words
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      348 11 The L l F Ej Library Of Photography helps you to see great picture possibilities all around you... II x! f *3 ik The Life Library Of Photography Each volume measures 10'/* x 70'/* inches (26 x 26 cm). Hard cover, silver stamped black cloth binding. 240 pages. Approximately 300
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    Lock icon Recession if dollar slide continues
    622 12 UPI, NYT. FORMER Federal Reserve Board Chairman Dr. Arthur Burns has warned that if the US dollar continues Its decline, economic sluggishness may become more intense In West Germany and Japan, and a recession in year or two could well follow. According to the latest
    UPI,; NYT.  -  622 words
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    Lock icon Hongkong gets ready for textile talks
    610 12 AFP. HONGKONG trade officials are starting another rqund of extensive textile consultations in the United States, Canada, and Europe with the departure for Washington yesterday of a delegation headed by Trade Director Lawrence Mills. Mr Mills will pick up the threads of various issues
    AFP.  -  610 words
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    Lock icon BILL TO REGULATE FOREIGN BANKS
    102 12 UPI. THE US House of Representatives has given final Congressional approval to a Bill to regulate operation of foreign banks in domestic financial markets. The action, agreeing to Senate amendments by voice vote, sends the measure to the White House. According to supporters of the
    UPI.  -  102 words
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    Lock icon Setting up deposit facility in China
    316 12 Reuter STANDARD Chartered Bank said In London It Is In direct negotiation with the Bank of China on a deposit facility agreement initially limited to US$lOO million (Ss23o million). Deposits made with the Bank of China would be used to facilitate purchases of capital
    Reuter  -  316 words
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    LONDON STOCKS
    756 12 LONDON. Ftl. Share prices firmed after being marked down on lack of Interest, dealers said. At 3 p.m. the Financial Times Index was up 1.1 at 510.4. Government bonds finished with falls ranging to 3/8 point on uncertainty over shortterm Interest rates and yesterday's money supply figures. Leading
    756 words
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    Currency trading suspended by New Zealand
    123 12 NEW Zealand ha* suspended dealings in sterling, yea and European currencies became of wide currency movements in international markets. A New Zealand banking source kere exRlained yesterday tke Tew Zealand dollar's exchange rate is by a basket of currencies, heavily weighted in favour of
    123 words
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    Lock icon Fed discount rate rise on the cards
    891 12 Reuter, NYT. IF THE US Federal Reserve Board maintains Its apparent tightening of monetary policy In defence of the dollar, an Increase in the discount rate appears imminent. Money market analysts observed that the Federal Reserve fund rate averaged 7.87 per cent In
    Reuter,; NYT.  -  891 words
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    Judgement for Khoo on Aug 31
    738 12 LAWYER Khoo Hln Hiong will hear his Judgement on Aug 31. Senior District Judge T.B. Slnnathuray postponed his verdict yesterday after hearing submissions from both prosecution and defence. Khoo Is accused on two counts of abetting businessman Cho Jock Kim In committing criminal breach
    738 words
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    Lock icon Criticism of tariff rise is mounting
    319 12 AFP. THE 12.5-per cent tariff increase announced in Canberra's annual budget Is attracting widespread criticism throughout Australia. After being under political challenge In Parliament for three days, on his credibility, Prime Minister Malcolm Fraser Is being heckled by the Retail Traders Association, led by
    AFP.  -  319 words
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    WIDE RANGE OF OPTIONS TO PROP U.S.$
    496 12 PRESIDENT Carter has a wide range of options open to him In any new policy to defend the dollar from massive intervention and stepped-up gold sales to more technical monetary and fiscal measures, international monetary experts said. The simplest, most visible action would
    496 words
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      114 12 o ACCOUNTANTS, AUDITORS, COMPANY SECRETARIES, MANAGERS, ADMINISTRATORS, BANKERS, STATISTICIANS. The fast growing industrial and commercial sectors of this region are constantly looking for professional men and women to fill such challenging and highly paid posts. Do you have the qualification to fulfil any of these roles? If not then ACT
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