The Business Times, 30 September 1978

Microfilm: NL9835
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, SEPTEMBER 30, 1978 SO CENTS
    11 words
  • BRIEFLY...
    • Article
      Hello UAE
      61 1 SINGAPOREANS will be able to dial direct to United Arab Emirates from Monday with the implementation of the International Direct Dialling Telephone Service to the country. Telecoms, announcing this yesterday, said the UAE will be the 29th country to be linked directly to Singapore. The charge Is $9
      61 words
    • Article
      Algemene raises PLR
      50 1 ALOEMENE Bank Nederland yesterday announced an increase in Its prime lending rate from 7v 4 per cent to 7V4 per cent, effective tomorrow. It joins the ranks of two other full branch banks with the PLR at this level. The two are Citibank and Chase Manhattan Bank.
      50 words
    • Article
      Lock icon Pope dies
      44 1 AP VATICAN CITY, Frl. Pope John Paul I, elected only last month, was found dead In his bed this morning, the Vatican announced. An official Vatican announcement said the 65-year-old Pontiff died of a heart seizure, most likely Just before midnight. AP
      AP  -  44 words
    • Article
      Lock icon Oil price up 5pc?
      67 1 Reuter OSLO, Frl. An oil price rise next year of 5 per cent could be needed In view of the world economic scene and other circumstances, Mr Abdul Had! Taher, governor of Saudi Arabia's General Petroleum and Minerals Organisation (Petromin) said. However, he said the estimated
      Reuter  -  67 words
    • Article
      Lock icon $40,697 per sq.m.
      48 1 Reuter HONGKONG, Frl. A government land auction at Tslmshatsul obtained a record price of HK581,395.34 (5540.697.67) per square metre, a spokesman for the Crown Lands Office said. He said the premium for the 2,150-square metre site near Hung Horn railway station was $175 million. Reuter
      Reuter  -  48 words
    • Article
      Lock icon Philippine GNP
      97 1 Reuter MANILA, Fri. Philippine gross national product growth in the first half of this year slowed to 6 per cent from 6.3 In the same 1977 Eerlod, compared with the target of 7 per cent, conomlc Planning Minister Gerardo Slcat said. He attributed the slowdown to the effects
      Reuter  -  97 words
    • Article
      Lock icon Railmen defy Carter
      43 1 AFP. WASHINGTON, Frl. More than 300,000 rallmen and a Federal judge today defied President Carter's back-to-work order. Strike pickets were stepped up as virtually all traffic was halted In 42 states on the Issue of a new labour agreement. AFP.
      AFP.  -  43 words
    • Article
      Lock icon Jetro's call
      58 1 Reuter. TOKYO, Frl. Japanese Imports of manufactured goods are expanding steadily, but there are no great prospects of a boost In Imports of American products. The semi-official Japan External Trade Organisation, In a report, urged the US to step up selling efforts If It wants to maintain Its
      Reuter.  -  58 words
    • Article
      Lock icon Dow Jones
      48 1 UPI NEW YORK, Fri. Prices headed higher today in quiet trading of New York Stock Exchange Issues. The Dow Jones Industrial average was ahead 1.73 points to 863.04 shortly before 1500 OMT. Advances outnumbered declines, 635 to 286, among the 1,361 Issues crossing the tape. UP!
      UPI  -  48 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      131 1 Foils Most active MBS HumeM Kuala Sidim MTC Set Properties Inchcape Dunlop Eat Nat Iron Tractor* M UI Rises C Sugar* Ambassador Sthn Malayan M Banking Shangri-La P M Hide* RoUubSm Com Plant Dunlop lad 300 188 210 400 230 194 330 585 505 230 318 215
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    • Article, Illustration
      In Kuala Lumpur
      147 1 Foils Most active M.B.S. 3.18 -62 S. Darby 707,000 L. Perak 2.60 -.18 Consplant 494,000 Dutch Baby 2.15 -.17 Haw Par 414,000 B Kawat 2.15 -.15 M Credit 331,000 M Cables 1.70 -.12 Total Turnover: 5.02 m New Sdah 2.70 -.12 Total Value: MI12.51 m Hume (FE)
      147 words
  • Article
    Recruitment of Thais hits snag
    707 1  -  LATEST LABOUR PAINS ■y FONG MEW LENG THE Singapore Government's attempt to ease the labour shortage by allowing the recruitment of guest workers from Thailand may be stymied by Bangkok's reluctance to allow workers to be employed outside the country for longer than a year.
    707 words
  • Article
    Lock icon SWISS FRANC TUMBLES
    310 1 Reuter. THE SWISS franc fell sharply against the dollar yesterday as expectations mounted that the Swiss National Bank would soon announce new currency measures to support the US unit. The dranlatic recovery of the dollar came as the Directorate of the National Bank met to discuss what
    Reuter.  -  310 words
  • Article
    Mitsuboshi belts up for production
    510 1  -  ■y FOO CHOY PING SINGAPORE'S first Industrial and automotive belt tnanufacturer will begin production next week for export to the EEC, the United States and Asian countries. Mitsuboshi Belting (S), a $10 million wholly-owned subsidiary of Japan's top belt manufacturer, Mitsuboshi Belting Ltd, will begin
    510 words
  • Article
    Rubber lacks that bounce
    271 1 MALAYSIA'S Minister for Primary Industries, Paul Leong, said In Kuala Lumpur yesterday he was disappointed that despite a bright future for rubber, Its production Increased by only 3.1 per cent between 1971 and 1875. This was very low compared with palm oil and kernel production, which
    271 words
  • Article
    Key US index rebounds
    126 1 A KEY US government Index designed to forecast the future course of the economy rose 0.8 per cent last month, a sharp rebound from the dismal July performance. The Commerce Department said yesterday the August increase was the largest since a one per cent advance last
    126 words
  • Article
    Bond for foreign domestic help halved to $5,000
    307 1 SINGAPOREANS and residents will be aMe to employ foreigners as domestic help more easily in the future. The bond they have to put up with the Government to guarantee the pftod behaviour of the servants will be halved with immediate effect, from
    307 words
  • Article
    Trade deficit likely to be bigger this year
    365 1 SINGAPORE'S Imports from all other countries fell in August by $111.5 million, or about 4.3 per cent, from July. Exports, rose by $169.9 million, about 9.1 per cent, and the traditional gap found in Singapore's,, balance of trade figures was reduced to
    365 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      6 1 hvrcff Lines JAPAN 1 U I
      6 words
    • Advertisement
      Page 1 Advertisements Column 2
      100 1 0 111 YOUr GAMf eemnia YOU TOWN? ffl Hr&TiMEVDUGMIE T& BW WEST. 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 equipment. Confidence, Honma, Lynx to name a few Drop in on
      100 words
    • Advertisement
      Page 1 Advertisements Column 3
      64 1 mm THOMSON Brandt lecka to INCHCAPE oomm a crop* as a but 8 < SINGAPORE aM flavw to FUttONG orgee HMB ita <Mtc far touriata 2 beldare to accept eflto SHIPPERS agree to Mkt NATIONAL Ira. aad Steal tocraaaa .TTTT I staala tka aWw INCHCAPE of the read WHO'S putttef
      64 words
    • Advertisement
      Page 1 Advertisements Column 4
      230 1 LAN VALUATION FOR FINANCING CALL THE PROFESSIONALS TH.:*****5/7 ASIAN APPRAISAL CO. PTE. LTD. SaAs 7Q27M, Ham Nmm| Itt, S-9. ON MONDAY, October 2, Business Times will be two years old. To celebrate our anniversary we have prepared a supplement on the leaders of Singapore, top men in politics, the civil
      230 words
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  • TRADE AND INDUSTRY
    • Article, Illustration
      Going solid in four days
      449 2 PIGLETS have been successfully weaned on to solid food four day* after birth in experiments conducted in Australia. Dr Jane Leibholz, senior lecturer in animal husbandry at the University of Sydney, said the benefits to pig farmers from early weaning are cost savings and better
      449 words
    • Article
      Singapore will be Thomson Brandt's base
      571 2  -  »r RONNIE LIM THE OIANT French electronics corporation, Thomson Brandt, is planning to expand to other countries in South-east Asia. Singapore, at present, Is its only production base in the reclon. Depending on several factors especially market growth, it is possible that the company
      571 words
    • Article
      THREE S.I.M. COURSES
      111 2 THE Singapore Institute of Management will conduct three courses at its conference room at Thong Teck Building. A course on Telephone Techniques and Courtesies, to be led by Mrs Joyce Netto, will be held on Oct 21 and 28. The fee Is $40 for members and $45
      111 words
    • Article
      Lock icon Thais buy gas at huge savings
      476 2 UPI. THE Natural Oas Organisation of Thailand signed a purchase contract on Thursday for 28 billion to 65 billion cubic metres of natural gas from Union Oil of Thailand and South-east Asia Petroleum Exploration Limited (Seapec). Thai Industry Minister Kasame ChatlkavanlJ said the project
      UPI.  -  476 words
    • Article
      KL goes ahead with airport shop tenders
      387 2 THE Malavslan government is going ahead wiui the tenders for the operation of tax-free shops and restaurants at the new Penang International airport, terminal building. It sees no reason to withdraw the tenders because applications by bumlputras are well above the 30 per
      387 words
    • Article
      Hoteliers await cue
      274 2 INVESTORS are ready to build more hotels In Penang nang in both the urban ana seaside areas once they are assured that the new International airport at Bayan Lepas will be ready t.nd that more tourists are coming in. Without such an assurance they are uncertain about
      274 words
    • Article
      Research course
      50 2 THE University of Singapore's Department of Extramural Studies will hold a 1 ft-lecture course on "Operational Research in Management", beginning Oct 3. Mr. M Sinnapurajar, an accountant, will conduct the lectures which will be. held in the Botany Museum every Tuesday and Thursday from 7.30 to 9.00 pm.
      50 words
    • Article, Illustration
      Perkins has the ace
      293 2 OWNERS of Perkins-powered sngtwos can soon be assured of improved after wki service with the introduction at a new ■cfc—( by Perkins Engines of the United Kingdom. The PerUas Engines care card theme will eaahle local distributor* to keep tabs esi snginos produced by the compoay
      293 words
    • Article
      The Singapore flavour comes to Manila
      183 2 HAWKER stalls, Singapore sytle, will sprout up in the Coral Ballroom of the Manila Hilton for 10 days. This attraction will be part of the Singapore Food and Cultural Promotion at the hotel from Oct 12-21. The promotion is the first of its kind
      183 words
    • Article
      New dimension in TV technology
      126 2 TWO Melbourne cameramen have designed and developed a lens system for the world's first threedimensional colour television. Their Invention requires only a simple adjustment to existing TV cameras and no change to home receivers now in use. Viewers will need special glasses to appreciate th-
      126 words
    • Article
      MEMO PAD
      310 2 COURSES AND TALKS Sept l-Oct 6: A practical approach to computerised mgt Information system (MIS), SIM, SIM Sept 26-Oct 12: Industrial Relations, Holiday Inn, P.O.D. Oct 3: Management by objectives, Hilton, Consulasla. Oct 5-6: Mergers for managers, Hilton, Consulasla. Oct 6-28: The effective executive, SIM, SIM Oct 10-13:
      310 words
    • Article
      KL-Seoul air talks fruitless
      172 2 NEGOTIATIONS between South Korean and Malaysian authorities seeking reciprocal air rights to fly through their respective capitals to a third country proved Inconclusive when the meeting ended In Kuala Lumpur yesterday. The two-day meeting discussed the right Malaysian Airline System seeks to fly beyond Seoul and
      172 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      182 2 Mathematics and Statistics in Penguins Statistics in Action: Peter Sprent This book is intended to interest the general reader who wants to become familiar with this subject, as well as a prelude to further study and a complement to formal elementary textbooks for those who wish to go to statistics
      182 words
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  • OVERSEAS
    • Article
      Lock icon Britain gives greenlight for takeover of Chrysler
      375 3 AP, Reuter. THE British government has given its formal approval to the takeover of Chrysler's United Kingdom operations by PeugeotCltroen of France. Industry Secretary Eric Varley said the government is satisfied that under the deal with Peugeot, the Brospects for Chrysler nited Kingdom
      AP,; Reuter.  -  375 words
    • Article
      Lock icon Carter acts to avert trade war
      205 3 Reuter PRESIDENT Carter has asked Congress to pass a vital piece of legislation which he needs to avoid a possible trade war with the European Common Market. Under the current law, the US Treasury Secretary is allowed to waive retaliatory duties against imports from
      Reuter  -  205 words
    • Article, Illustration
      Lock icon Japanese lightweights k.o. a heavyweight
      511 3 Reuter, UPI. OFFICIALS of the sole remaining American motorcycle manufacturer testified on Thursday that price-cutting by Japanese competitors has forced them out of the lightweight motorcycle field and has repeatedly frustrated plans to enter the middleweight market. Further, one official said, the failure to Impose
      Reuter,; UPI.  -  511 words
    • Article
      Lock icon Aid report offers food for thought
      288 3 AP. A STUDY group has told the US Congress that American food aid should be Increased, with more emphasis on helping needy countries develop economically so that their people can afford to eat better. A 268-page report on operations of the Food for Peace
      AP.  -  288 words
    • WORLD IN BRIEF
      • Article
        Lock icon UNTIED LOANS TO MEXICO
        543 3 Agencies. FOUR groups of Japanese commercial banks will extend untied loans totalling about US$55O million to $600 million (551.24 billion to $1.35 billion) to Mexico shortly, Tokyo financial sources reported yesterday. Agreements will be signed during the visit to Japan by Mexican President Jose Lopez in
        Agencies.  -  543 words
    • Article
      Lock icon CIA learns that world oil will last 60-90 years
      422 3 NYT. A STUDY made for the US Central Intelligence Agency by the Rand Corporation has concluded that at present rates of consumption the world's recoverable crude oil will last for 60 to 90 years. In a report released on Thursday, the
      NYT.  -  422 words
    • Article
      Lock icon American oil gear for Russia
      82 3 UPI THE US Administration ha* approved the sale of U5556.5 million (SSI27 million) worth of oil equlpmen to the Soviet Union since President Carter Imposed export controls on such equipment two months ago. The Commerce Department. which administers the export regulations, authorised the transactions because
      UPI  -  82 words
    • Article
      Money supply still rising with fury in US
      594 3 GROWTH of United States money supply the prime determinant of Inflation Is continuing to accelerate despite the recent sharp rise in interest rates. Federal Reserve statistics showed money supply Ml, which consists of checking account deposits and currency, Increased US$BOO ■million (551.84
      594 words
    • Article
      Lock icon SWISS VAT PLAN
      113 3 Reuter. THE Swiss National Council, the Lower House of Parliament, approved by 102 to <0 proposals to introduce value •ddeA tax (VAT) at an initial rate of 7 per cent. The vote came after a prolonged debate in which the Social Democrat Party withdrew support for the
      Reuter.  -  113 words
    • Article
      Lock icon Energy Bill consensus
      373 3 UPI US energy negotiators have agreed on a far-reaching energy conservation BUI including a plan to double the fine on fuel-wasting cars and another to change the way utilities set their rates. The agreement at the end of a day-long session of a House-Senate energy conference committee
      UPI  -  373 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      83 3 This announcement appears as a matter of record only acting by and through the Department of Finance DM 11,707,927 Fixed rate buyer credit European Asian Bank Deutsche Bank Aktiengeseilschaft Soci6t6 G£n£rale Frankfurt Branch This announcement appears as a matter of record only PHILIPPINE AIRLINES, INC US 7,248,000 Medium Term Loan
      83 words
  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      595 3 [en CRYPTIC PUZZLE ACROSS 3 Polo man. much travelled (5) 8 Quick attack outside Peterhead (5) 10 But they can be unders (5) 11 Old bit of stuff (3) 12 Flash of temper? (5) 13 Junior fellowship (7) 15 Prepares railway points? (5) 18 Beat black and blue or brown
      595 words
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      451 4 THE Singapore market yesterday closed higher with October One RSS buyers quoted at 254.00 cents per kilo, up two cents, dealers said. Morning prices were marked up on higher London advices forward demand, trade buying and weekend covering, they said. The afternoon session was quietly steady
      451 words
    • Article
      RAS PRICES
      322 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. 231.75 252 75N 252.00 253 OON Int. 1 R.S.S. Oct 253.75 254.25 254.00 254.50 Int. 1 R.S.S. Nov 257.75 258.25 258.00 256.50 Int. 2
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    • Article
      SSR AND SMR
      101 4 NOON S8R And SMR prices yesterday: RA8 Octal (Carnal bar t Mtk) No (ran Bvyvn w4Mth) Setter* S8R20- S8R50 (1-ton pallet) (1-ton pallet) (ceau parte) 227.00 229 00N 223.00 227.00N (aaa) 228 00 228 00 tsperkf) 230.OON 238.OON MRELB SMR 5 CV SMR5X SMR 5 SMR 10
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    • Article
      Closing prices
      30 4 Rubber: Sept 29 Singapore: Oct 254.00 cents (up 2.00 cents) Malaysia: Oct 259.25 cents (up 2.25 cents) Tin: Mf1.860 (down 15) Official offering: 190 tonnes (up 57 tonnes)
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    • Article
      Rice
      168 4 BANGKOK rice prices were quoted as follows yesterday: (In US dollars per tonne. F O B. basis Bangkok) While Rice: 100 pet Ist class 402. 100 r:t 2nd class 387. 100 pot 3rd class 382. pet 377. 10 pet 352. 15 pet 347. 20 pet 342. 25 pet 332.
      168 words
    • Article
      Wheat
      76 4 AFTER falling to the day's lows on local selling, wheat futures on Thursday staged a minor recovery but still closed mostly lower in Chicago. Local short-covering and stop-buying combined to lift corn futures near the day's highs at the close. Prices ended four to two cents higher after firming
      76 words
    • Article
      Produce exchange
      366 4 THE Singapore produce market continued on its quiet trend yesterday. Prices of copra and coconut oil held steady despite an easier market for all other oilseeds generally. The price for palm oil. for example, has fallen and is expected to fall lower until December because production has Increased
      366 words
    • Article
      Hongkong comex
      141 4 THE sugar market closed easier yesterday after ruling sllghtlv higher throughout in fairly quiet trading due to a lack of fresh factors, dealers said. There were 15 sales at the closing sale. Buying came mainly from commission houses. The cotton market closed steady yesterday In line with New
      141 words
    • Article
      SPOT PRICES
      196 4 YARN and cotton in Hongkong dollars, spot rx-godown Couoa Vara China Blue Phoenix 20's 1.885. 32's 2.800. 40t 2.730 (per bale of 400 lbs Pice* Goods China: Butterfly and Globe brand unq. Dragon Head una. Five l-ambs una. Flower and Butterfly unq. Flying Geese unq. (per piece 38
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    • Article
      Coffee
      180 4 ROBUSTA futures yesterday ended a quiet and featureless opening session ••steady" l"7 to £19 per tonne up in sales of 114 lots In London. Dealers said there was no fresh background news and the early gains reflected New York's late recovery while trading remained Inhibited by the London ICO
      180 words
    • Article
      Palm oil
      85 4 C.I.F. North European port*, in US dollar* per ton unie LONDON: Thursday si otherwise statec Malaysian b% 1 (a bulk per tonne November Sumatra 5% f fa bulk September October November December January February Nigeria 5% ffa bulk stg 008 sir M7v.pd 935 sir 020 sir 902S pd
      85 words
    • Article
      Cocoa
      124 4 TERMINAL cocoa in London lost upto £10 in post-opening call dealings, having declined steadily during the call from a New York-based ClO advance yesterday. Dealers said the decline followed on from sustained selling from a leading trade house which could possibly be attributed to belated hedging against recent purchases
      124 words
    • Article
      Straits tin
      219 4 THE Straits tin price In Penang (ell Mss per plcul yesterday to $1,800. Values (ell back slightly on tncreased tin supplies by miners (or end-month clearance but general light support was still present, encouraged by steadier London advices. Turnover rose to 190 tonnes (rom 133 tonnes on Thursday
      219 words
    • Article
      Sugar
      332 4 SUGAR futures yesterday finished the first call in London around higher overnight kerb levels for gains of 1'1.50 to C 1.05 per tonne. Dealers cited market talk of underlying Chinese enquiry for sugar. China was believed to have taken two cargoes of raws from a London trade house and
      332 words
    • Article
      Soybean
      102 4 CHICAGO soybean futures on Thursday proved unable to hold most of a late morning advance but managed to close two to 3/4 cent a bushel higher. A late sell-off came after what traders said was prehedglng by two firms. Some hedging was noted earlier following scattered Increases in country
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    • Article
      Encouraging week for rubber
      299 4 AS BULL points continued to predominate, charts In certain quarters were adjusted to record the new five-year highs, although prices In fact Improved only some four cents at best to 253 8) and 200 (M) cents per kilo, before falling back rauvi Good forward demand on
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    • Article
      Copper
      318 4 COPPER wlrebars on Thursday gained C 0.5 (or both cash and Three months In London. The early afternoon market traded around the day's highs on covering against general physical demand but profittaking pared prices at the close. Renewed covering gave support on the kerb aided by the trend at
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    • Article
      Silver
      185 4 3ILVER on the LME was up 2.1 to 2.2 pence per troy ounce In London on Thursday. The afternoon market was restrained by a downturn In US futures with Threemonths slipping back from an early trade of 296.0 pence. Dealings were predominantly carries. The morning market reflected the steady
      185 words
    • Article
      Gold
      392 4 THE kltobar In Singapore, opened at 5515,685 and closed slightly easier at 5815.649 yesterday. The highest and lowest of the day were 8****** and *****45 respectively. The tone was quiet. Spot gold for London delivery opened at U*****.10/.40 and closed lower at USS2IB.BO/.10. The highest and lowest of the
      392 words
    • Article
      Lead
      54 4 LEAD closed C 0.50 per tonne down in London on Thursday for cash and C 0.75 lower for Three months. The market fluctuated around steady morning levels for most of the afternoon until kerb dealings when values rallied and Three months traded upto 376.50 stg per tonne, the highest
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    • Article
      Zinc
      61 4 ZINC closed one sterling lower for cash and £0.75 per tonne down for Three months in London on Thursday. The market quietened during the afternoon and prices drifted back slightly from steady morning levels which were well maintained In good two-way activity against a background of further Continental and
      61 words
    • MONEY AND EXCHANGE$
      • Article
        Singapore market
        455 4 THE US dollar fluctuated against the major currencies in foreign exchange markets yesterday. Against the Japanese yen, the dollar opened at 189.05/15 and firmed to the day's high of 189.40/60 before slipping at Tokyo close in early afternoon to 189.10/29. London opening however brought the dollar back to
        455 words
      • Article
        Asian $ & CD rates
        172 4 Asian CD rates ASIAN currency deposit Interbank rate* as at clow on Sept 29 US Mian (SpM) Offer BM 7 days 915/16 113/16 loith 91/J 2 mths 9 J/16 81/4 3 mths 911/16 99/19 6mths 97/9 9S/« 9mths 97/9 0V4 12 mths 97/6 9V4 9e. Pre. Dat. iMIMb Prion I
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      • Article
        Discount
        44 4 RANOE of price* offered by discount houaei on Sept 29: Ovemifht JH* Call deposit! SH* CWh B«rtec SeUtaw 3-month Treasury bllU S#/ie >7/1# 3-month Bank btlls 66/16 6 7/16 3-month CD 7 6 7/8 6-month CD 71/t 7 Source: National Discount Co Ltd.
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      • Article
        MLR
        17 4 THE avarage rale at whieh Singapore banks ars currently to lead le ie 7.25 psr cent.
        17 words
      • Article
        Treasury Bills
        68 4 RESULTS of tender held on Sept 29 for 91-day and 182day Bills. 91-day Bills to be issued from 182-day Bills Oct 3 to to be Issued Oct 8 on Oct 3 Offered <36,000,000 $20,000,000 Applied for $76,620,000 $49,200,000 Allotted $36,000,000 $20,000,000 Accepted bids $99.12 $90.13 94%; nifner bids
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      • Article
        London
        317 4 THE dollar yesterday opened sharply firmer against the Swiss franc at 1.5500/ 5550 francs, up from 1.5120/55 overnight, dealers said. They said there was no new factor In the market and the franc, which had In recent days shown the strongest rise against the dollar, was now showing the
        317 words
      • Article
        New York
        189 4 THE dollar on Thursday closed mixed In fairly quiet trading, dealers said. They said end-of-month and end-of-quarter factors aided the dollar as trading remained relatively thin. They noted the Swiss franc featured activity a 4 strong selling of the Swiss unit for marks emerged. Accordingly, the Swiss franc
        189 words
      • Article
        Tokyo
        110 4 THE US dollar for overnight delivery closed at 189.15 yen yesterday, downfrom a 189.20 opening. The US currency fluctuated between 189.00 and 189.40 yen In light late trading after an initial firmness reflecting Rs overnight strength against yen in New York, dealers said. Trading volume was a moderate 510
        110 words
      • Article
        Hongkong
        115 4 THE US dollar yesterday strengthened against major currencies In very quiet, late trading, dealers said. The US dollar rose to a late 1.5300/30 Swiss francs from New York's 1.5175/225 close, to 1.9350/00 marks from 1.9310/20, and to 189.10/20 yen from 188.90/189.10 In subdued end-week and end-month trading. Bteritng ease
        115 words
      • Article
        Australia/NZ
        51 4 A U8TRALIA/NZ exchanges quote* yesterday: US dir 1.19*0/1.1542 Sterling 0 &&W/0 *23 Ninety-day air mall buying rate*: Sterling 0.8073 US dtrs 1 1937 Ninety-day forward baying rates: Sterling 0 MM U8 dlrs 1 15M NEW ZEALAND: 8t«rHn« 0 UM/O saes USdlr 1 0m/1 0873 sa- ar-*' TO USdlr 1
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      • Article
        Frankfurt
        41 4 FRANKFURT exchanges cloctnf quota an Sept tl: US I.MM Cm l.MO/VC sui.ni/Mi D PI 92 00/10 8 Fr 130 10/40 Lit 2 36/37 r Fr 44.47/97 Ten 1.MM16 B Fr (can) 0.343/3U B Fr (fin) I M Kr 37 70/B0
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      • Article
        Zurich
        53 4 ZURICH exchanges ckMtaf q uoieaon Sept n US 1.91M-S1M 8t« 2.9848-9817 Can 1.S11-M4* D Mk It 0783-2731 D rt 71 8248-71 0180 D Kr 28 3007-3898 N Kr 29 4529-5227 S Kr 94.3729-4MS Lit 0 1848-1 m Aim «ch 18 7711-8001 Port 3 3308-3484 Spain 2.0832-4882 Ar* 0 19-29
        53 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      185 4 ONE GOOD PUBLICATION THAT'S worth a thousand watts li you're into hi-fi, you'll certainly enjoy reading The Craft of Sound a Handbook of Hi-Fi Hints, filled with interesting and essential features for all hi-fi enthusiasts to improve their listening pleasures. Wouldn't it be worth your while to make a mere
      185 words
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  • TRANSPORT
    • Article
      Lock icon BA slashes Continental air fares in one fell swoop
      798 5 NYT, AFP. IN A MOVE heralding sharp, widespread cuts in European airfares this autumn, British Airways has, announced that it is cutting prices by up to 40 per cent on 18 routes to West Germany, France, Belglum. the Netherlands and Finland.
      NYT,; AFP.  -  798 words
    • Article, Illustration
      SHIPS IN PORT
      326 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Kawana (1130 after Protasantos) 46 King Lake (0600 22 Kota Harapan-( 1500 after Kota Pahlawan) 11 Kota Mutlara (0700 after Kota Pahlawan) 10 Lexa Maersk (0300 after Isfeml TaaJ) 38/39 Palm Sea Horse (1700 after Telok Weda) 13/14 President Cleveland (2300 after
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    • Article, Illustration
      LEADING THE MAMMOTH HOME
      123 5 PORT of Portland's mammoth new 300metre long floating dry dock, built in Japan by Ishikawajima-Harima Heavy Industries (IHI), has left the Inland Sea under tow by Tokyo Marine Service*. Estimated arrival in Portland, Oregon, following a 8,300-km journey, ii Sunday Oct 1. The new dry dock,
      123 words
    • Article
      Shippers 'yes' to rise on Australian run
      636 5  -  By RAHIM KASSIM THE SINGAPORE and Malaysian shippers' councils have come to an agreement with the Straits/ Australia Conference on a general freight Increase of 5 per cent from Jan. 1. v The increase was announced yesterday after a joint meeting between the
      636 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      158 5 UPI SHIPOWNERS' efforts to halt the Atlantic grain carrier rate decline tended to curtail fixing activity, but the weak tone was still evident In such business as a 20.000-tonne US Gulf movement to west coast of Mexico by a first-half October vessel at the SO US cents
      UPI  -  158 words
    • Article
      Lock icon Request to fly to Peking via Seoul
      110 5 AFP. THE US has urged South Korea at their recent aviation talks in Washington to give American civil aircraft rights to fly beyond Seoul to Peking. The South Korean delegation to the meeting on Sept 18 to 24 withheld consent to the request,
      AFP.  -  110 words
    • Article
      Lock icon Giving them the full benefits
      145 5 UPl' AMERICAN, TWA. Pan American and British Airways plan to give fullfare passengers preferred treatment over those flying at discount rates, the Wall Street Journal reported on Thursday. Several other major carriers, including United and National, also are considering such moves and Air France has
      UPl'  -  145 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      724 5 ARRIVALS 8arrk* I A Ml Oparata CAL MAS MAS 8IA MAS MAS MAS CAL r Ntuabar CT333 MH001 MH662 SQ101 MH621 MH007 MH671 CI814 1 rfaM 0040 0700 0729 0615 0640 0045 0945 1000 TPE/HKO/KUL KUL KCH KUL PEN KUL PEN/KUL HLP CPA RBA l:i* J OIA
      724 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      234 5 so hard to find on local newsstands >ur The Asian Wall Street Journal is no ordinary newspaper. It's die only regional publication that provides Asia-wide business new* every business day, as well as penetrating analyses of the key international business issues of the day, as toy affect Asia and die
      234 words
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  • Article
    Hastiness makes for wastefulness
    354 6 THE MINISTRY of Labour Is to be applauded tor Its decision to reduce the bond (or domestic servants. The $10,000 bond has proved to be an unreasonable burden on prospective employees of foreign domestic labour and this Is unfortunate since the availability of domestic services has
    354 words
  • Article
    Optimistic growth
    218 6 THE WORLD'S largest and most influential economic organisations have reached a remarkable consensus on the fate of the capitalist world. As if by some magical happening, the IMF, the OECD, and the US Treasury look forward optimistically to a halving of the chronic US balance of payments deficit
    218 words
  • Article, Illustration
    Lock icon Microelectronics — the chips are down for Britain
    745 6  - Microelectronics the chips are down for Britain Pocket calculators and digital watches are just the tip of a production-iceberg destined to astound the industrial world. But, LLOYD TIMBERLAKE writes, only two countries in the world seem to recognise the potential of microelectronics. LLOYD TIMBERLAKE Reuter THE TECHNOLOGY of microelectronics is
    Reuter  -  745 words
  • Article
    Lock icon FIGHTING FAMINE
    656 6  -  ■y MICHAEL HUGHES Reuter AFRICAN atatea are meeting la Aruaha, Tanzania, thia week in an attempt to eoanter the continents declining food eelf-aufficiency, a aituation aggravated by iocueta, drought, flood and war. Thia United Nationa Pood and Agriculture Organiaation (FAO) regional confarence haa received general approval from the
    Reuter  -  656 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      200 6 v. > m *8 A mgsww IW No dinner is complete without aWhite Label' \\V i SI Willi h. b s® CuAnother quality product from ■si -an Udo^fl pone Potu e'l «H*£ "A > I Hotel Royal-RAMADA Newton Road. Singapore 11, Republic of Singapore Telephone *****1, Tatax: RS-***** Capiat: HOTELROYAI
      200 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      60 6 tWEATHER OUTLOOK for Singapore from 6 a.m. to noon today: Mainly fair Report for 24 hour* prior to 7.30 pm on Sept. 29 at the airport: Maximum Temperature M.t'C Associated Humidity 77 Minimum Temperature 24.7° C Associated Humidity 99 Hours of Stufthine 1.50 Rainfall in Millimetres Trace Total Rainfall for
      60 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      313 6 TV&RADIO SINGAPORE 5 12.50 PM Opening announcements followed by Sesame Street 0 1.55 Saturday Matinee The City Starring: Robert Forster, Don Johnson, Ward Costello 3.05 Rugby Special Scotland vs England 0 4.35 The Yummies 0 4.55 Pre-Examination Programme Mail Mau Kahwin (pt. 2) with English subtitles 5.40 Little House On
      313 words
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  • Article, Illustration
    Japan changes gear to make new kings of the road
    1647 7  -  If you have noticed sleeker and slicker Japanese cars around lately, you have seen only the first of a long line of the classy Mitsubishis and Datsuns possibly the new kings i of the road. The Economist. THE CHEAP imported
    1,647 words
  • Article, Illustration
    STRAWS IN THE WIND
    354 7 TWO DARING pioneers from different countries have, without collusion, decided to populate two areas with wild life alien to them. In Moscow, Soviet authorities plan to send a quail egg into orbit to test conditions for the eventual birth of human beings In outer space. Experiment
    354 words
  • Article
    Lock icon South Korea gambles on a tourist boom
    1021 7  -  FORUM. •r JACK GEE FT. THE ROULETTE wheels whirr, the stickman snaps his staccato calls at the craps tables and the gamblers hold their breath. We are in North Asia's biggest casino and most of us have travelled far to Seoul because this
    FT.  -  1,021 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      342 7 m w v 4---A PEE M*» St r? 'EV! M^bsi '«i •>.»' sfSiwsA <** $W*2k *«k SS3«P«»i New Japanese Restaurant KIKU^P serving authentic Japanese food I lopf Mil Yakki Irmpuia Shashimi "Sukivaki *shabuShabu KIKU JAPANESE RESTAURANT OPCHID INN Tel *****2 2:4 Dunearn Road. Singapore 11 Km; TERRY A %PfMFR Come,
      342 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      43 7 Bri Stow: to Ihdsa£ neoo, weuo, Memo U3MRTS GOMG ON \N Tw€. STpa OFfroE.^ SOOnC \JUC*Ij£SS ts UPON Tuo CHRCG6S \>S t ORENING TV4£ DOOfc UJMM.ST TH£.TPPIN IS IN ©RTr€mPT.HG TO BOPCO R ?rcWC> TOR*.... V Rdo£ DeViL-Ty**T'LL COS V4m R feu) 808
      43 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Trading slow
      1000 8 NEW YORK STOCKS finished mixed in slow iE£«£^s.? on ern about Interest rates was S? ThiSd?* bar aln hunMn lny^sXor moved *Lij£ JSfHn®* to await the report on the U8 monev wpjrty and President Carter s due as the market closed. The Dow Jones Industrials added a fraction,
      1,000 words
    • Article
      Lock icon Market still rising
      600 8 TOKYO Source: DBS-Daiwa THE market continued to rise yesterday, centring on largecapital Issues such as cement and wire and cable issues and non-margin medium-sized issues with good business results, reflecting Thursday's bullish mood. The Nikkei Dow-Jones average In Osaka reached the 6,000 level. Turnover was relatively heavy
      Source: DBS-Daiwa  -  600 words
    • Article
      Lock icon Hongkong
      382 8 Source: SHK Sec PRICES opened much better yesterday In confused early trading as Investors attempted to theorise on the benefits or disadvantages of an unchanged prime rate and the largest ever public company loan proposed In Hongkong by HK Half an hour later prices turned softer with some small
      Source: SHK Sec  -  382 words
    • Article
      Sydney
      244 8 SEPT if Cents INDUSTRIALS A. C. I A.N.I A. P. M Ampol Pet B H P Bank NSW Boral Brambles C. B .A C. 8. R Coal Allied Dunlop Ex. Ind Herald Hooker I.C.I Lend Lease Myer News Ltd Oakbridge Pioneer Cpn Repco Rothmans Swan Brew T.N.T Thiess Tooth
      244 words
    • Article
      Manila
      105 8 SEPT It Pesos Aco)e Mining .012 -0.0006 Atlas Con A Atlas Con B 23 20 *0 1 Bagulo Gold .014 unch Benguet Con B 38.75 +0.25 BF Goodrich 24 50 -0.1 CDCP 31.00 -1 Inco B Landoll 0175 unch Lepanto B 28 unch Marlnduque B 135 -0 25 Meralco
      105 words
    • Article
      Bangkok
      176 8 Sc*2S Baht Bangkok Bank 368 Bank of AyudhayaLtd 288 Thai Danu unq Thai Farmers Bank 352 Thai Commercial Bank 748 Bangkok Metropolitan Bank unq Industrial Finance Corp 2.595 General Finance 350 Bangkok Investment 338 First Trust 318 Raja Finance 1.270 Lee Kwanf Ming Trust 207 Thai Insurance unq Safety
      176 words
    • Article
      Zurich irregular
      645 8 EUROPEAN MARKETS ZURICH stock prices doaed irregular In moderately active dealings on Thursday. Prices were higher Initially, Influenced by the recovery of the dollar and the mark, dealer* said, but began to decline due to a lack of follow-through demand. particularly in the Industrial sector. Leading banks and
      645 words
    • Article
      Zurich
      185 8 8 KPT franc* Action* Suisse* 203 42 Aiusulsae Br 1000 420 AluauiaacRcf 441 45 Brown Boverl Br. 1525 -25 ClbaOetcy Br 000 ♦5 ClbaOetfy PC M0 45 ClbaOelgy Ref M0 -S Credit 8ulsae Br 2100 440 Ctedlt Suisse Rec 430 40 Etektrowatt Br. 1170 unch Oeorte Plscher Br MS
      185 words
    • Article
      Amsterdam
      201 8 SEPT a ru ABN 370.00 -4 Ahold -0.0 Akio +0.1 AMEV S830 -1.7 Amta» 111.00 Amroi Bank -1.2 Bergou MOO -4.5 Berk 91 SO -2 Bo Is 73 00 -OS BorxumlJ 182 SO 1.S Burhmann 73 30 -0 7 Byenkorf WOO -01 CaJ»e Delft mso unch Deli Mtj 119.80
      201 words
    • Article
      Paris
      255 8 SEPT 11 Fr» CORBEILLE Alr-Uquldf B 8 N Oervali Danone C8F (ThomsonCsX) Cle Franca tae *de« Petrolea Compacnle Financier* Compagnle General* Credit Fonder D* Franc* Hachette (Librable) Machine* Bull Mlchelln (B) Part bat Pechlney Clglne Kuhimann Peugeot' Philip# (NvOem Belli) Prlntempa 8 A Rhone-Poulence 8A Royal Dutch Sues* Cte
      255 words
    • Article
      Frankfurt
      192 8 SEPT a Dm Aef-Telefunken Akzo All* Leben Allx Van BASF Bay HTWbank Bay Vbank Bayer BBC BMW <~YfTrH« Chem Varw Commerzbank r 340 143 30 3T 4t3 »1 210 -0.3 ■H1.J ♦3 1 ♦1.4 -2 -0.3 •MM ♦l.» unch 1 +4.5 -O.J Contl Gumml Daimler-Bent Decuaaa Dema< Deuiache Bank
      192 words
    • Article
      Toronto . . . Composite index up
      332 8 Toronto Composite index up SHARE prices closed higher on Thursday, tn active trading. The composite index was up nearly six points with advances in 11 of Its 14 component groups. Gains led losses 223 to 204. Ashland Oil Canada, the most active issue, rose to 32S on 133.350 shares and
      332 words
    • Article
      CHICAGO BOARD OPTIONS
      1641 8 September 28 CHICAGO Board Options exchange volume eased to 143,040 contracts on Thursday from 153,837 on Wednesday. OPTIONS OCT JAN APL STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Avon Avon-P Avon Avon-P Avon Avon-P Avon Avon-P Bank. Am Bank Am Bank
      1,641 words
    • Article
      Brussels
      95 8 SEPT n Pr» rr\n FORWAKD MAUTT Acec 453 -7 ni Arbed 2505 +65 > Astur 754 -18 t j Brascan 4M 1 Bru-Lamb IMS 4-9 VI1 Canpac 514 Cock 4M 47 DeBetrt 222 ♦3 Ebrs 2310 15 Electrobel 6810 -20 Ob-Inno-Bm 2400 +30 Oe» 1482 -2 Hobok 2950 •S
      95 words
    • Article
      Milan
      101 8 SEPT a Lire ME Anic 110 4-3 Assoc Gen 3TO50 •*-108 Baitor 643 +24 Cent, rale 5670 +240 Flat 2880 +55 +8 Flnsider 191 Gen Immob 83.90 +1.79 +48 inprl 2879 ft H ItaIcemenu ***** +1080 Italg&i 800 +5 ItaJsider 397 Magnetl M PI 548 SO 18.5 ivj Marelll
      101 words
    • Article
      Jo'burg
      406 8 OOLD shares closed higher on balance but off the day's best levels In small volume on Thursday. Dealers noted issues moved off the top following the election of Mr. p w. Botha as Prime Minister (previously Defence Minister On balance gains ranged to 100 cents Mining flnancials follow the
      406 words
    • Article
      Selected indices
      64 8 FINANCIAL TIMES INDUSTRIALS Thursday 501.2 Wednesday 906 0 Week Ago 525.7 DOW JONE8 AVERAGE INDUSTRIALS Thursday 881.31 Wednesday 880.18 Week Ago 881.14 LONDON DOLLAR PREMIUM Thursday t6K to 86* Wednesday 90 to 80% U.K. HANG SENG Friday 833.14 Thursday 845.27 Week A»o 810.17 SYDNEY INDUSTRIALS Friday 474.15 Thursday
      64 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      163 8 COLLKTINQ Oriental flNTiouEj by Judith Moorhouse and Dries Blitz [3 Hamlyn Group, London. Oriental antiques have, always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average collector. This myth Is perpetuated by
      163 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Woodside cannot account for rise in shares
      197 9 Reuter. WOODSIDE Petroleum Ltd is «not aware of any reason for the rise in the company's shares on the Sydney Stock Exchange. Market sources said the shares Jumped to 90 Australian cents on Thursday from Wednesday's close of 80 on rumours of a
      Reuter.  -  197 words
    • Article
      Lock icon Dalton recommends Carpenter bid
      106 9 Reuter THE BOARD of Daltonßros Holdings Ltd said It will recommend shareholders accept an increased offer of Asl.67'/» per 50-cent par share from W.R. Carpenter Holdings Ltd for the 63.8 per cent of Dalton s issued capital of 10.59 million shares not previously held. Dalton has,
      Reuter  -  106 words
    • Article
      Lock icon Fujisash companies delisted
      63 9 Reuter THE TOKYO Stock Exchange said it will delist from Dec 27, Fujisash Industries Ltd'and Fujisash Sates Co Ltd, which reported false* financial statements in the past several years in violation of the securities and exchange law. The decision was made after studying corrected financial statements submitted
      Reuter  -  63 words
    • Article
      Lock icon Hongkong Land jumps 49pc in first half
      759 9 Reuter NET PROFIT at Hongkong Land Jumped 49 per cent In the first six months ended June 30, 1978. Interim profit after taxation but before extraordinary items, was HK5135.4 million, compared with 190.8 million for the same period last year. This significant Increase
      Reuter  -  759 words
    • Article
      Hutchison, City talks suspended
      361 9 CITY and Urban Properties Ltd said its talks with Hutchison Properties Ltd on a possible merger of the two companies have been suspended. This follows presentation to the supreme court of a petition by Tai Cheung Properties Ltd subsidiary, Union Estate Co Ltd, seeking either to
      361 words
    • Article
      Lock icon ATT expects record
      360 9 r i N.AMERICAN Reuter. AMERICAN Telephone and Telegraph Co (ATT) said 1978 could be the company's best year ever. ATT in 1977, the previous record year, earned U554.54 billion on revenue of $36.49 billion. The company last week reported earnings for the three months ended August 31
      Reuter.  -  360 words
    • Article
      Lock icon Hudson's Bay raises copper price
      128 9 Reuter HUDSON'S Bay Mining and Smelting Co Ltd said It increased Its Canadian Erlce for full plate electronic copper cathodes to 80 Canadian cents per lb from 76 cents. The premium for electrolytic copper wlrebar remains at 0.625 cent per lb. Hudson's Bay does not
      Reuter  -  128 words
    • Article
      Lock icon Borg Warner
      30 9 Reuter BORO Warner Corp said directors voted to Increase the quarterly dividend to 50 US cents a share from 45 cents, payable Nov 15, record Oct 20. Reuter
      Reuter  -  30 words
    • Article
      Lock icon S and P lowers ratings on Firestone
      167 9 Reuter STANDARD and Poors Corp (S and P) said It lowered Its ratings on senior debentures ana notes of Firestone Tire and Rubber Co to single A minus from single A pius. Ratines on Firestone's Industrial revenue bonds, Issued by Albany Daugherty Payroll
      Reuter  -  167 words
    • Article
      Lock icon IBM ups prices
      135 9 Reuter. INTERNATIONAL Business Machines Corp (IBM) said its General Systems division is increasing prices for products including System/3, System/32 and System/34, as well as making price adjustments for certain maintenance services. The systems 3, 32 and 34 are small business comfuters. Prices for series 1 BM minicomputers
      Reuter.  -  135 words
    • Article
      Lock icon UNION OIL PLANS THERMAL RESEARCH
      140 9 Reuter UNION Oil Co of California said it plans a Joint Canadian project for research Into developing a thermal recovery technique for what may be Canada's largest heavy oil deposits. The project will be undertaken with the Alberta Oil Sands Technology and Research Authority and
      Reuter  -  140 words
    • Article
      Lock icon MCKEE CORP
      41 9 Reuter. MCKEE Corp said directors ratified an agreement for the company to be acquired by Davy International Ltd of London and recommended acceptance by stockholders. Davy has offered to acquire all outstanding McKEE shares for US$33 cash each. Reuter.
      Reuter.  -  41 words
    • Article
      Lock icon Canon may build photocopier plant in France
      103 9 Reuter CANON INC Is studying closely the possibility of setting up a factory to produce photocopiers in France. Company sources said Canon-Franc SA has bought a plot of land large enough to accommodate any future factory at Honfleur In Normandy. This Is being
      Reuter  -  103 words
    • Article
      ANI ups dividend and plans to raise A$7m for expansion
      350 9 AUSTRALIAN National Industries (ANI), the engineering equipment hire, motor vehicle distribution and Investment group, has lifted its dividend, and plans to raise A 17.0 million for expansion after its eleventh consecutive increase in profit. Earnings for the year to June
      350 words
    • Article
      Lock icon Esso plugs well
      43 9 Reuter THE BATAVIA one well In the Abrolhos Basin offshore Western Australia has been plugged and abandoned as a dry well at total depth of 2,941 metres, Esso Exploration and Production Australia Inc and Western Mining Corp Ltd reported. Reuter
      Reuter  -  43 words
    • Article
      Lock icon Light Servicios gets credit in three tranches
      342 9 BONDS&LOANS Reuter THE Brazilian utility. Light Servicios de Electrlcldade, .has obtained a US$l5O million Eurocredit In three tranches. Euromarket sources said the credit comprises a $65 million tranche over 10 years carrying a spread of 11/8 per cent over London interbank offered rates,
      Reuter  -  342 words
    • Article
      Lock icon Credit for airline
      191 9 Reuter. THE US$25O million 10-year credit for Eastern Airlines will be met from domestic French franc and mark funds, but repaid in dollars to minimise the borrower's foreign exchange risk. Banking sources said the credit is being supplied equally by a German group comprising Kredltanstalt .Fuer Wiederaufbau
      Reuter.  -  191 words
    • Article
      Lock icon Smaller market hinders EMI profitability
      442 9 Reuter EMI LTD'B medical electronics division placed a heavy burden on the company last year. EMl's chairman, Mr. John Read, said the combination of a reduced US market after large Investment there, major costs In building up a service organisation and updating earlier equipment together
      Reuter  -  442 words
    • Article
      Swiss Reinsurance payout unaffected
      297 9 NET PROFIT of Swiss ReInsurance Company, Zurich, fell to SwFr 71.5 million in the financial year ending June 30 from SwFr 75.56 million for the 1976-77 period. Despite this decline, however, the board recommends payment of the SwFr 100 per share dividend paid for the previous
      297 words
    • Article
      Lock icon Shell discusses solution
      181 9 Reuter THE ROYAL Dutch/Shell group has had discussions with Compagnle Francalse de Petroies (CFP) and other refining companies aimed at finding a solution to the overcapacity problems of the European oil refining -Industry. A Shell spokesman from Rotterdam, however, said a Dutch press report that Shell may
      Reuter  -  181 words
    • Article
      Electricite De France Eurocredit
      130 9 ELECTRICITE De France is planning a US$3OO million to $500 million credit, but nothing has yet been fixed. A spokesman for the state-owned company said It will be looking for a loan of around 10 years at rates as low as H per cent over London
      130 words
    • Article
      Lock icon Hecsa raises facility
      109 9 Reuter. THE PLANNED Eurocredlt for Hldroelectrlca de Cataluna 8A (Hecsa) of Spain has been raised to US$5O million from $40 million following heavy demand. Euromarket sources said the loan, lead managed by Chase Manhattan Ltd, will be for eight years with a spread of one per cent
      Reuter.  -  109 words
    • Article
      Lock icon EIB
      40 9 Reuter. THE 200 million French franc bond issue for the European Investment Bank (EIB) was priced at 99* per cent, primary market sources said. The bond is for 10 years and carries a coupon of 9% per cent. Reuter.
      Reuter.  -  40 words
    • Article
      TARMAC UNLIKELY TO MATCH PREVIOUS RESULTS
      133 9 TARMAC Ltd said pre-ta*' profit for the full year is likely to match 1077's £2i34» million although the second half should show some-"' Improvement over thi" c 14.19 million earned In the second half of last year. Tarmac said both home' and International construe'-.,
      133 words
    • Article
      Lock icon Volvo trucks along in Kenya
      87 9 AFP. SWEDEN'S largest motor vehicle manufacturer,; Volvo, is to start assem-1 bllng heavy duty trucks at' Kenya's Mombasa motor assembly plant from;; November this year, the. company's marketing" manager for Africa, Rune Larson, said. The first of the N-10 truck*, models, designed to beat" environmental
      AFP.  -  87 words
    • Article
      Lock icon FISONS POSITIVE IN OUTLOOK
      92 9 Reuter FISONS Ltd chairman Mr.George Burton said results for the whole of 1978 show an improvement orv the pre-tax profit of £21.tt-> million earned last year. He said the busing*; trends which led to the first,, half rise in profits, to £11 Mr. million before tax
      Reuter  -  92 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      39 9 The Ll FEj Library Of Photography v helps you to see great picture O -Jj! possibilities -all around you... w Pi Lai ff si 1 m p 4 u LIFE B-4 International Building Orchard Road, Singapore 9 Tal: *****88/3712Yl
      39 words
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  • DEALS DONE ON THE SES AND THE KLSE
    • Article
      In Singapore
      1266 10 Ad tpa offer price* officially Utted ■tffbusin*** In and reported to Uvc *sc* Exchange of Singapore ye»terJky wiui the number of tnaret traded {ml in bracket* In lot* of 1,000 unvtenien otherwise specified ■Ml Time Settlement Contract* are cihMed after Ute word "actt." ■Bit Board deal (In lot*
      1,266 words
    • Article
      Government bonds
      118 10 4 1/2% l/VM (250,000)(99.528 98.808) 4 3/4% It/9/68 (250,000) (99.978 100.058) S% IV4/61 (250,000) (100.108 100.208) 5 3/4% T P 1W1144 (250,000) (102.358) 7% 1/VH (250,000) (100.708 190.858) 7 1/4% IS/4/86 (250,000) (100.75B) 7 1/4% 16/16/66 (250.000) (100.75B) 7 1/4% 1/6/87 (250,000) (100.70B) 6 3/4% T P IV7/87
      118 words
  • Article
    SHARE INFORMATION SERVICE
    2453 10 1978 High Low Company Last Sale 4-OC-Gr'i 1 Div Div Cvr Gr's Net Y'M P/E Vol Day (*000) High Low SECTION ONE INDUSTRIALS 272 238 178 219 275 111 276 326 245 660 132 123* 112 133 195* 60 Vi 162 173* 140* 256 Acma Alcom Allied
    2,453 words
  • Article
    Unit trusts
    144 10 SINGAPORE UNIT TRUST INCOMEBOND UNIT Wiium' prtow far tot Oct 2) (Carat pi riccc) The Commerce 2.11 2.31 INCOMEBOND 1.00 1.15 The 8*vine F'und 1.37 1.46 S pore Prog Fund 1.00 lOOzd MARA BUMIPUTRA FUND S pore Security Fund 8 pore Invest Fund 1.05 1.31 1.00 1.30 IMuiin'
    144 words
  • Article
    In Kuala Lumpur
    1800 10 BID and offer ptfces 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 otherwise specified. INDUSTRIALS Acma (2.398). A town* to (2WB). Alum 41.9T8) II) 3.00 XD.
    1,800 words
  • Article, Illustration
    Share prices close mixed
    658 10 SHARE price* fluctuated around their overnight level* on the Stoeh Exchange of Singapore yesterday. The market was dicey, soft one moment and firm the next. Sime Darby's scintillating results provided a boost to the market, which firmed marginally at the opening. The conglomerate had announced a
    658 words
  • Article
    KL conditions quietly steady
    647 10 QUIETLY steady conditions prevailed for the greater part of yesterday on the Kuala Lumpur stock market, with share prices again finishing mixed to slightly ahead. There was no dramatic changes in the day's pattern of trading, although total turnover was reduced to only 5.02 million units
    647 words
  • Article
    UOI share listing
    82 10 THE Stock Exchange of Singapore said it admitted United Overseas Inaaraaee (UOI) to Us official list and trading In the 15.1 million shares will commence on Oct 2 The $1 nominal UOI shares will be listed under the finance Meter of tkt ftrat trading ■sctisn, It yH
    82 words
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  • COMPANY NEWS
    • Article, Illustration
      Inchcape takes a hard fall in midstream
      668 11  -  •y MANO SABNANI ONE of the largest conglomerates listed on the stock exchanges of Singapore and Malaysia, Inchcape Berhad, yesterday r«vealed a drastic fall in earnings for the half-year to June 30, 1978. The group, which has more than 85 subsidiaries and 25
      668 words
    • LATEST RESULTS
      • Article
        MALAYAN Breweries Ltd:
        58 11 Unaudited group net profit $17.83 million ($15.76 million), year ended June 30. Turnover 294.9 million (261.6 million). Final dividend 18 cents gross (16 cents) making 26 cents (23 cents) payable Oct 26 to shareholders registered Oct 26. Parent company profit $20.20 million ($9.32 million) on gross income
        58 words
      • Article
        United Engineers Ltd:
        64 11 Unaudited group pre-tax profit $1.66 million ($3.20 million) for the half-year ended June 30 on turnover $29.62 million ($27.60 million). Parent company pre-tax profit $1.71 million ($1.77 million). The company said profit fell as a result of losses on contracts secured in earlier years in both Singapore
        64 words
      • Article
        Sanyo Industries (Malay- sia) Bhd:
        22 11 Unaudited pre-tax profit M 51.07 million ><832,256 six months ended June 30. •Sales $20.1 million ($12.5 million).
        22 words
      • Article
        Johan Tin Dredging Bhd:
        73 11 Proposed a one-for-one bonus issue raising its palduf> capital to M 5272.000 from $136,000. It also proposed an Increase in authorised capital tq'Ss million from 5200,000. The issue, capitalising a sum of $136,000 from the company's unappropriated profit account w«uld be distributed to shareholders registered Oct
        73 words
      • Article
        Ajinomoto Malaysia Bhd:
        48 11 Unaudited group pre-tax profit M 51.99 million ($1.67 million) on sales $14.40 million ($13.50 million), half-year ended June 30. Company pre-tax profit $2.10 million ($1.76 million) on sales $14.30 million ($13.20 million). The company said it expected profit for the second half-year to be maintained.
        48 words
      • Article
        Lingui Developments Bhd:
        92 11 Net profit M 51.49 million for the 18 months ended June 30 ($500,000 for the 12 months to end-December 1976) on income before extraordinary items $680,000 ($450,000). Net profit included ($l.lB million) $280,000 of extraordinary profits resulting from the writing back of a previous provision for diminution
        92 words
    • Article
      COMPANY MEETINGS
      97 11 HUME Industries (Malaysia) Bhd: AGM to be held at Jalan 219 off Federal High way, Petallng Jaya, at 11.30 a.m. on Oct 7. Hume Industries (Far East Ltd: AGM to be held at 2nd Floor, 13.7 km, Buklt Tlmah Road, at 12 noon on Oct 9. Southern Kinta
      97 words
    • Article, Illustration
      Hotel Merlin investors urged to accept UOL offer
      1206 11  -  By ARTHUR NG MERCHANT bankers Jardine Fleming (Singapore) recommends that the minority shareholders of Hotel Merlin Singapore (HMS) accept the takeover offer made by parent United Overseas Land. The bankers are of the view that the offer of five UOL shares for
      1,206 words
    • Article
      RUBBER OUTPUT
      65 11 August Kilograms Ayer Molek Rubber 47,871 Benta Plantations 252,000 Bukit Katil Rubber 34,110 Castlefield 186,881 Consolidated Plantations 2,449,000 Glengowrie 45,813 Golden Hope 1,042,910 Holyrood 90 719 Hongkong (Selangor) 26,762 Inch Kenneth Kajang 106,134 Kempas (M) 728,000 Killinghall (Rubber) 26,762 Kinta Kellas Rubber 254,922 Kuala Selangor 74,845 Kundon Tarijong
      65 words
    • Article
      DIVIDENDS ANNOUNCED
      458 11 Current Ex Books Date Total for Total for payment Date close payable the year previous year M'w«u 10%TE(b) Aug 24 Sept 8 Oct 18 10HTE 10%TE Int Wood 10%TE(b) Aug 10 Aug 17 Sept 30 10HTE 10% TE Car Is berg 10%I Sept 13 Sept 25 Oct 2
      458 words
    • Article
      SCRIP ISSUES
      138 11 Bonus issue of 1 for 4 Cithhtf Bonus issue of 1 (or 2 ThmtMi Bonus issue of one for MaiuFmilk Bonus Issueof 1 for 4 Rights issue of 1 for 4 #11.00 per share Oct it Octu Oct* Oct 2 Oct 28 Oct* Octll Oct* Pab Buk Bonus
      138 words
    • Article
      Kesang Tin losses show a widening gap
      187 11 THE losses suffered by Kesang Tin (Malays) Berhad widened further in the latest half year to end June. Against an unaudited loss of $1,315 previously, the company incurred a pre-tax loss of $27,402 this time. The latest deficit swells its total accumulated losses
      187 words
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      110 11 STRAITS/ AUSTRALIA CONFERENCE NOTICE TO SHIPPERS GENERAL FREIGHT INCREASE The last Oeneral Freight Increase was Introduced by the Straits/ Australia Conference on l October 1976 Operating costs have since Increased substantially and the Conference has found It necessary to Introduce a 9% General Freight Increase on all tariff rates, effective
      110 words
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      Page 11 Advertisements Column 2
      24 11 r-i The Love of ooking t tiii x w A ■J' V? I k i a i s > x s £2 n Kenneth Lo
      24 words
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  • IMF/WORLD BANK MEETING
    • Article, Illustration
      Optimism over twin goals marks the close
      530 12  -  •y QUEK PECK LIM THE Joint session of the World Bank and the IMF ea4*d in Washington on Thursday on a note of optimism by World Bank president Robert McNwnara. There was, he said, widespread acceptance of the twin goals of development the
      530 words
    • Article
      IMF to police world monetary system
      528 12 THE NEW president of the International Monetary Fund, Mr. Jacques de Laroslere, served notice on Thursday that the 135nation agency will play an increasingly active role as policeman of the world's monetary system as he wound up the 33rd IMFWorld Bank annual meeting. The
      528 words
  • Article
    Lock icon SHARP RISE IN JAPAN'S JOBLESS RATE
    207 12 UPI, Reuter JAPAN'S Jobless in August increased sharply because of sluggish economic activity, a government official reported yesterday. The number of unemployed last month totalled 1.21 million, up 160»000 over a year ago, Bakonshiro Inamura, director general of the Prime Minister's Office said. He
    UPI,; Reuter  -  207 words
  • Article
    Emminger supports a lower growth rate
    391 12 BUNDESBANK president Otmar Emminger expects growth of between 3.5 and 4.5 per cent in the German economy from mid-1978 to mid-1979. He described this as an ideal growth rate. He said in an interview in Washington with the daily "Sueddeutsche Zeltung" that 6 per
    391 words
  • Article
    Lock icon Peking will turn to Eurodollar market
    332 12 Reuter. THE PRESIDENT of the Federation of European Banks, Mr. Helmut Haeusgen, said he expects China to raise loans on the Eurodollar market as It broadens Its methods of financing Imports for its ambitious modernisation programme. "It might take some time, but It will
    Reuter.  -  332 words
  • Article
    Strong showing by National Iron
    180 12 NATIONAL Iron sad Steel Mills has more than justified the strong uptrend ■een in its share price in recent months. Yesterday, the company announced that pre-tax profits for the first sis months of the current year have more than doubled from K. 23 million to
    180 words
  • Article
    Lock icon FUNDS FOR FACILITY
    50 12 Reuter. UNITED States' participation in the IMF Witteveen Facility was given final congressional approval by the House on Thursday. The Bill now goes to President Carter for signature. The Senate passed it on Monday. It authorises America to contribute US$l.7 billion (about Ss3.B billion) to the facility.
    Reuter.  -  50 words
  • Article
    Malaysian yard to get syndicated loan
    477 12  -  •r COLIN CHEK A US$3O-million (5M7.50 million> syndicated loan is being put together by a leading Japanese bank here for a Malaysian shiprepairing company. It is learnt that Sumitomo Bank is working on a 12-year loan for Malaysia Shipyard and Engineering. Details are tentative
    477 words
  • Article
    Lock icon Main tin items at issue
    466 12 AFP DEEP dissatisfaction with operation of the Tin Council's prices review panel and an unsettling atmosphere created by protracted US moves to gain stockpile releases will be the main Items discussed by the Tin Council on Monday at the London meeting. The panel was established
    AFP  -  466 words
  • Article
    Lock icon EEC will not discriminate against LDC goods
    382 12 Reuter SINGAPORE has been assured t# France that the European Common Market would not take protectionist measures against the developing countries of Asia, Africa and Latin America, French and Singapore officials said. Prime Minister Lee Kuan Yew received these assurances on Thursday In
    Reuter  -  382 words
  • Article
    Lock icon China plans to order 30 ships
    133 12 UPI. CHINA has sent Inquiries to the world's major shipbuilders about the construction of about 30 ships. Including cargo and specialty vessels. Kyodo News Service yesterday reported that the inquiries have been sent through Ylck Fung Shipping and Enterprises Co. and Ocean Tramping Co.,
    UPI.  -  133 words
  • Article
    Lock icon Experts to meet on impact of know-how
    111 12 Reuter EXPERTB from 10 Asian countries including Singapore; will participate In a meeting In Bydney next month to measure Impact of modern Western technology on developing countries. The meeting will bring together urban planners, sociologists, lawyers, doctors and teachers to discuss the human
    Reuter  -  111 words
  • Article
    LONDON STOCKS
    729 12 LONDON. Frt. Share prices closed lower after quiet tradlne and at 3 pm. The Financial Times was down 1.1 at 500.1, dealers said. Government bonds were narrowly mixed. Gold shares eased In line with the lower bullion fixing and US. Canadian and Australian stocks finished lower. Victor* ended
    729 words
  • Article
    Safeguard dwindling resources, says Raja
    263 12 THE contracting resources of the world are being consumed mainly by the developed countries. They consume 90 per cent of the world's oil output, most of its minerals, fertilisers and 75 per gent of its fish catch. Pointing this out at the 33rd session of
    263 words
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      55 12 «.v. CHIDAMBARAM* VOT: 1« rrivd 2Mi SatoMb*. I*7B. •t PSA. G«Uwa Nm.l/2 Oeneral Survey of dama«ed rood* ex the above vessel will be held on Tuesday 3rd October. 1978. as from 9.00 a.m. to 5.00 p.m. No further survey will be held after this date. Agents:aShoy l sons R. JUMAfiHOY
      55 words
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      Page 12 Advertisements Column 2
      3 12 Leader Page 6
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      Page 12 Advertisements Column 3
      138 12 NOW in FONTANA Paperback JtJST--p'U^k k Sits 3 Hi U JHfl 3 4 w. ffe St* £3^l K 1 ;x S HPBP*! THE SEKLOONGS are Hong Kong's merchant princes flamboyant, sensual, wily, unimaginably rich. Jonathan Sekloong has built a vast trading empire, renowned throughout the east. But there are no
      138 words