The Business Times, 20 January 1977
1977-01-20
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The Business Times
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Title Section9 1977-01-20 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, JANUARY 20, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article67 1977-01-20 1 UPI TOKYO, Wed. The American dollar plunged steeply against the Japanese yen In heavy trading In Tokyo's foreign exchange banks today. Under strong selling pressure, the dollar closed the day at 289.40 yen per dollar, dropping below 290 for the first time since Oct 13. ItUPI - 67 words
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Article57 1977-01-20 1 UPI CAIRO, Wed. An eight-day visit by President Tito, which was scheduled to begin tomorrow, has been postponed because of the death of Yugoslav Premier Dzemal Bljedlc, a government announcement said today. The announcement did not set a new date for his visit. Mr. Bljedlc wasUPI - 57 words
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Article38 1977-01-20 1 Don't interfere Lee BAOUIO, Wed: Mr. Lee Kuan Yew criticised as Interference a bitter Hanoi attack on the Joint anti-guerrilla operation by Malaysia and Thailand. Mr. Lee was asked to comment on Hanoi's charges at a press conference.38 words
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Article57 1977-01-20 1 Reuter JAKARTA, Wed. Torrential rain sent flood water swirling through several Jakarta suburbs today and hundreds of people were forced to leave their homes. Low-lying areas In Orogol, Rawamangun and Kenangglsan suburbs were badly hit. Floods were also reported In Krawang district, 73 kilometres east of here, causingReuter - 57 words
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Article43 1977-01-20 1 UPI WELLINGTON, Wed. A sharp earthquake rocked Wellington last night causing widespread minor damage but there were no reports of Injury. The quake, which registered 6 on the Rlchter scale, was centred 60 kms south of the New Zealand capital. UPIUPI - 43 words
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Article51 1977-01-20 1 AP MANILA, Wed. Despite a limited ban on log exports, the Philippines earned about US$25O million (*****.5 million) from log exports last year, a spokesman for the Department of Natural Resources said today. The spokesman said this Is $30 million more than log export earnings in 1975AP - 51 words
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Article32 1977-01-20 1 UPI NEW DELHI. Wed. Prime Minister Indira. Gandhi reaffirmed today that the emergency regulations would be relaxed to permit legitimate political activity in the forthcoming national elections In March. UPI.UPI - 32 words
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Article36 1977-01-20 1 AP SEOUL, Wed. South Korea and Canada will hold a two-day conference In Ottawa Jan 24-25 to seek accord on 1977 Canadian Import quotas on Korean textiles, the Foreign Ministry announced today. AP.AP - 36 words
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Article44 1977-01-20 1 UPI NEW YORK, Wed. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 963.68, up 1.25; 20 transp 238.27, up 0.45; 15 utlls 108.80, up 0.19; 65 stocks 316.30, up 0.48. UPIUPI - 44 words
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Chief Price Changes
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Article, Illustration177 1977-01-20 1 TRADING at the Stock Exchange of Singapore turned steadier yesterday. Tin shares continued to firm, putting 1.04 points on the Straits Times Tin index which closed at 102.71. Reflecting the steadier trend in the rest of the market, the Business Times index rose 2.76 points to 270.88177 words
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Article120 1977-01-20 1 Rites r» 1/ e («Mi. Mott active Haw Par 137,000 Krmmat Petaling Tin L. Ptrtk 2 85 .12 t 4.76 +.12 Bo us trad 110,000 Central Sugars 96,000 1.56 .11 2.43 .11 3.88 .10 8 3.70 .10 8 3.52 .08 8 4.14 .06 It 812.80 .20 8120 words
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1258 1977-01-20 1 LEE AND MARCOS CHALLENGE JAPAN: Reuter BAOUIO CITY, Wed. The leaders of the Philippines and Singapore today urged Japan to demonstrate with action rather than words Its readiness to help develop the economies of South-east Asia and forge closer, more mutually beneficialReuter - 1,258 words
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Article144 1977-01-20 1 SINGAPORE closed last year with the lowest trade deficit since 1973, according to preliminary statistics. The deficit for 1976 was $6.1 billion compared to $6.5 billion the year before and *6.25 billion In 1974. The trend In Imports and exports was sustained In the last144 words
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327 1977-01-20 1 SINGAPORE and the Philippines are to set up a bilateral commission to work out ways and meansof increasing economic and technical contacts between the two countries. This follows the successful conclusion of a five-day visit made by Prime Minister Lee Kuan Yew to the Philippines.327 words
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468 1977-01-20 1 THE new era in foreign Investment has begun, and It Is very much a sellers market. This Is the view of the president of the British Business Association, Mr. Leonard Rayner, who spoke yesterday to the Lions Club of Singapore on "Future foreign Investments In468 words
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Article184 1977-01-20 1 Reuter TOKYO, Wed. The Labour Ministry plans to set up an "employment stabllsatlon fund" to prevent unemployment and facilitate vocational changes by workers, a ministry spokesman said. Appropriations totalling 47.7 billion yen (***** million) in the national budget for fiscal 1977 starting April have been approvedReuter - 184 words
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Article64 1977-01-20 1 UPI WABHINOTON, Wed. Consumer prices In the United States roee 0.4 per cent in December and 4.8 per cent throughout 1976, providing Americans with the lowest year-end Inflation rate In four years, the Labour Department reported today. The 1976 figures reflected a fulfilment of President Ford'sUPI - 64 words
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Article115 1977-01-20 1 Reuter KUALA LUMPUR, Wed. The straits tin price in Penang fell MS27 per picul to <1,393, $68 above the International Tin Agreement ceiling, dealers said. Market sources described today's fall, following the London Metal Exchange's easier trend overnight, as a techlnlcal reaction reflecting speculators' andReuter - 115 words
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Article191 1977-01-20 1 UPI TOKYO, Wed. Honda Motor is actively considering the idea of producing cart in the United State*, company vice president Kihachiro Ka was hi ma told a news conference today. He said a feasibility survey had convinced the firm that production of its AmericaUPI - 191 words
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Article121 1977-01-20 1 TWO projects worth $275 million are being carried out in the United Arab Emirates of Dubai and Umm al Qawaln, by Robin Dredging, p\rt of the Robin group. The first projects is the dredging and reclamation of the Dubai Creek Lagoon, and the second121 words
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254 1977-01-20 1 CANBERRA, Wed. The Australia Government has created a high-level committee to monitor its relations with the five member countries of the Association of South-east Asian Nations (Asean) Malaysia, Thailand, the Philippines, Indonesia and Singapore. The formation of the new review committee the standing lnter-depart-mental254 words
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Article171 1977-01-20 1 THE Development Bank of Singapore yesterday raised Its prime lending rate by point to 6 V, per cent, effective today. It appears that the bank has finally given in to upward pressures which have been building up In the lnter-bank market for some weeks. The171 words
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Article147 1977-01-20 1 MR. EJ. Tan, Incumbent vice-president of the Singapore Chinese Chamber of Commerce (BCCC), has been described as the "dark horse" In the race for the post of president In the new management committee for the chamber. Mr. Tan, who was not named in the recent147 words
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Page 1 Advertisements
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Advertisement36 1977-01-20 1 Colour TV is simply great 1 sJ Kll Overuai newt/TV Radio oewi/Ptttuw Local Co Mm international Co Overseas stocks P2 Commodities Transport ft Compj municatioas Features P< Local Overseas news PS Local ft Overseas Pi news36 words
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Advertisement91 1977-01-20 1 Hon sir" PTTuT Hong Leong Finance provides a wide range of financing services that meets today's commercial and industrial needs. With its vast resources, expertise and experience Hong Leong is able to bring professionalism to finance, using it effectively to help new companies get started or established ones grow. Talk91 words
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Advertisement83 1977-01-20 1 1 m Super TriStar Service toHongKong,andonto Taipei and Tokyo. Cathay Pacific introduces daily Super TriStar flights to Hong Kong, and on to Taipei and Tokyo, departing Singapore at 11.20 am. Call your Travel Agent, or Cathay Pacific at ***** for Super TriStar reservations. Super TriStar. It's a very special way83 words
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OVERSEAS
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Article301 1977-01-20 2 Reuter WASHINGTON, Wed. The Council of Economic Advisers believes economic recovery could be jeopardised unless there is an Increase in capital investment. Business fixed Investment was less than 10 per cent of ONP in 1976, and even with the Improvement anticipated this year (about nineReuter - 301 words
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Article236 1977-01-20 2 AP WASHINGTON, Wed. The US Labour Department Issued new regulations yesterday to strengthen the government's ability to act against American firms that comply with foreign boycotts by discriminating In their hiring practices. The rules forbid contractors hiring workers In the US for overseas projects fromAP - 236 words
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243 1977-01-20 2 UPI WASHINGTON, Wed. Army Secretary Martin Hoffmann yesterday officially cancelled a contest between the US XMI tank and the West German Leopard II that had been designed to choose the main American battle tank in the 1980s. The decision means that Chrysler,UPI - 243 words
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Article83 1977-01-20 2 UPI TOKYO, Wed. Net assets of Japan's investment trust companies topped the four trillion yen (5133.6 billion) mark for the first time, the Investment Trust Association said yesterday. It said the net assets, which Included national bonds, corporate debentures and stocks, stood at 4.08 trillion yen at theUPI - 83 words
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637 1977-01-20 2 AP WASHINGTON, Wed. US President Oerald Ford said yesterday that "international economic cooperation Is stronger today than at any time since the Second World War." The American Chief Executive said: "We have learned the importance of Industrialised democracies taking Into account the likely Impact ofAP - 637 words
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275 1977-01-20 2 AP WASHINGTON, Wed. Eight Latin American presidents appealed yesterday to President-elect Carter to reach an early agreement with Panama on a new Canal Zone treaty. The appeals were made In the forms of letters from each president, delivered to Incoming Secretary of StateAP - 275 words
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Article68 1977-01-20 2 Reuter CARACAS, Wed. The Venezuelan balance of trade surplus narrowed to US$5lO million (551.25 billion) in 1976 from $5.25 billion in 1975, the Central Bank said here. Exports declined to $9.97 billion from $10.8 billion a year earlier, while imports rose to $9.46 billion from 55.55 billion, itReuter - 68 words
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Article96 1977-01-20 2 Reuter CARACAS, Wed. Venezuela's oil extraction this month will average 2.4 million barrels dally, up 200,000 barrels from the target ceiling set for conservation purposes, Venezuelan Mines and Power Minister Valentin Hernandez said here. Extraction rose to rebuild stocks of crude oil and refined products,Reuter - 96 words
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Article223 1977-01-20 2 Reuter NEW DELHI, Wed. Indian President Farkhruddln All Ahmed has dissolved the Lok Sabha (Lower House of Parliament) In preparation for general elections, to be held probably in March, it was announced here today. Prime Minister Indira Oandhi last night announced her decision to holdReuter - 223 words
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250 1977-01-20 2 Reuter BONN, Wed. West Germany yesterday promised to support Italy's request for financial aid from the International Monetary Fund (IMF), a government spokesman said. Chancellor Helmut Schmidt told visiting Italian Prime Minister Giulio Andreotti he hoped negotiations on an IMF loan to ItalyReuter - 250 words
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Article50 1977-01-20 2 AP UNITED NATIONS, Wed. UN Secretary-General Kurt Waldheim yesterday announced the appointment cf Mr. John Saunders, 60, of England, as his special representative to coordinate reconstruction aid to Lebanon. Mr. Saunders also will be resident representative of the UN development programme in Lebanon, based in Beirut. AP.AP - 50 words
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234 1977-01-20 2 AP BRUSSELS, Wed. British Foreign Minister Anthony Crosland said yesterday the nine Common Market governments were disappointed at the absence of progress in trade talks with Japan. The West European countries especially want the Japanese to share with them some of the orders they haveAP - 234 words
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Article204 1977-01-20 2 AP WASHINGTON, Wed. Adapting Soviet technology to American uses could be a way to create new Industries and Jobs in the United States, the head of Control Data Corporation, said yesterday. Mr. William Norris, founder and chairman of the computer and finance company, said a seriesAP - 204 words
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Article169 1977-01-20 2 Reuter LONDON, Wed. The provision of funds for investment and trade will be the central theme of a committee reporting on the workings of British financial institutions, committee chairman Sir Harold Wilson told journalists after the first session.' The possible extension of public ownershipReuter - 169 words
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547 1977-01-20 2 AP JEDDAH, Wed. Many workers in Saudi Arabia these days have un-Arab names such as Pak, Kim or Dong. They are South Koreans, brought here by the thousands by construction companies cashing in on the oil bonanza. The SaudisAP - 547 words
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Article140 1977-01-20 2 AP WASHINGTON, Wed. Mr. W. Michael Blumenthal. US Presidentelect Jimmy Carter's choice to be Secretary of Treasury, announced yesterday that with the approval of Mr. Carter, he is nominating three of the top officials who would work with him at the Treasury. Mr. Blumenthal selectedAP - 140 words
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450 1977-01-20 3 TOKYO, Wednesday Reuter WESTDEUTSCHE Landesbank Oirozentrale board member Walter Seipp said he feels West Germany Is making a "very substantial" contribution to world economic recovery, through the Increase In Its Imports, which outstrips that of Its exports. Mr. Selpp told aReuter - 450 words
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525 1977-01-20 3 RIO DE JANEIRO, Wed. The Brazilian Coffee Institute has raised for the second time in two weeks the export tax on coffee, bringing it to US$lO3 per 60kilogram bag. institute sources said unofficially that the increase, announced late Monday, was made to adjust the525 words
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Article40 1977-01-20 3 Reuter NEW YORK, Wed. The 18-bank syndicate planning to lend Venezuela US$l.2 billion hopes to submit another bid by the end of the week following Venezuelan rejection of the original offer, bankers close to the syndicate said. Reuter.Reuter - 40 words
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575 1977-01-20 3 Reuter FRANKFURT, Wed. The Soviet Union and East European Comecon countries will be forced further to reduce their 1976-80 growth rate targets if they continue to restrain imports from the West on the scale of last year, bankers and economists hereReuter - 575 words
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Article238 1977-01-20 3 Reuter HAVANA, Wed. Cuba, which hopes to become a major supplier of sugar, citrus fruits and paper to Eastern Europe, yesterday hosted a meeting of the executive committee of the communist trading block Comecon for the first time. President Fidel Castro opened the two-day meeting attendedReuter - 238 words
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Article143 1977-01-20 3 Reuter WASHINGTON, Wed. The Treasury Department has issued a tax reform study whose proposals If adopted would be much simpler, fairer and more efficient than the current tax system, according to Mr. William Simon, outgoing Secretary of the Treasury. The treasury proposals, which were published afterReuter - 143 words
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451 1977-01-20 3 Reuter BIRMINGHAM. Wed. Britain can now look forward to a period of far Creator stability for sterling, Chancellor of the Exchequer Denis Healey said in a speech to the Birmingham Chamber of Industry and Commerce. He said the successful negotiation of aReuter - 451 words
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343 1977-01-20 3 UPI BRUSSELS, Wed. The European Common Market will Impost a limit on the number of trawlers the Soviet Union and other East European countries can send to the new 320 km community fishing zone. British Foreign Secretary Anthony Crosland said yesterday. Mr.UPI - 343 words
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Article95 1977-01-20 3 AP WASHINGTON, Wed. US federal regulation of the steel Industry has grown at an astonishing rate over the last two decades, threatening the amount of time and money the Industry can devote to modernising and expanding capacity, the government said yesterday. The report was the result ofAP - 95 words
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Article, Illustration1364 1977-01-20 3 LEONARD SILK - STERLING one of the world's strongest currencies? The Bank of England actually able to replenish the reserves by buying dollars in the market? The trade gap shrinking and the current account actually in the black last month? Fewer strikes? Lower inflation? Smiles on theNYT - 1,364 words
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Page 2 Advertisements
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Advertisement175 1977-01-20 2 When it comes to complicated calculations consult the Professionals Calculators SHARP Calculators have one thing in common the ability to reduce cost increase output. That means more business for you. CS-4152 *730 14digits, 1 memory, Display with print/non-erint switch Item counter. Right shift key Constant and complex calculations CS-2108 $2175 words
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Page 2 Miscellaneous
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Miscellaneous339 1977-01-20 2 WEATHER report for 24 hours prior to 7.30 p.m. on Jan 19 at Singapore airport: Maximum temperature 30.4° C Associated humidity 70 Minimum temperature 22.H°C Associated humidity Hours of sunshine 4.90 Rainfall in millimetres nil Total rainfall for the month 58.4 Total rainy days for the month 7 RADIO SINGAPORE339 words
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Page 3 Advertisements
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Advertisement178 1977-01-20 3 SEE THIS PAGE Now in Singapore— Contact Oce for the most efficient, most economical copiers and plan printers. Contact Oce to see the sleek new Oc6 tabletop copier the 1610 in action. It's so handy you'll want to spot several around the office. The Oc6 1610 is most efficient when178 words
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COMPANY NEWS
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438 1977-01-20 4 SENTOSA Plywood has decided not to sell the 1.9 million shares In Pahang Consolidated whose purchase and subsequent resale last year was the subject of censure from the Kuala Lumpur Stock Exchange. It reveals that the buyer was Lin Securities. The company has told438 words
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171 1977-01-20 4 JARDINE Matheson Holdings (SEA), a wholly-owned subsidiary of Jardlne Matheson (SEA), has sold its entire shareholdings In diamond trading company, Gregory (Singapore) and furniture manufacturers, Henry and Co. Jardlne Matheson Holdings managing director Mr. Boon Yoon Chiang says in a letter to the Stock171 words
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Article247 1977-01-20 4 Current Ex Date Total for Total for payment Date payable the year previous year Temerloh 3.5% Jan 4 Jan 21 3.5%+ 15% K.T.Pau 6%+ Jan 5 Jan 21 6%+ 33% Pahang Con. 10% Dec 3 Jan 24 10% 12.5% Wearne Bro» 12% Jan 10 Jan 24 17% 10%247 words
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528 1977-01-20 4 TWO factors stand in Chemical Co of Malaysia's path of achieving higher profitability In the current year ending Sept 30, 1977 They are low world fertiliser prices and low-priced imports flooding the Malaysian market. As chairman Mr. S.A. Ridgewell sees It, unless there528 words
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Article119 1977-01-20 4 CHEMICAL Industries (F.E.) has announced the resignation of Mr. James Hinton Scott as director of the company. The present board now comprises the following:- Dr. Phay Seng Whatt (chairman); Mr. Lim Soo Peng (deputy chairman/ managing director); Mr. Teo Thian Cheong; Dr. Fong Seek Kong and Mr.119 words
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Article40 1977-01-20 4 THE book closing date for Murata Manufacturing's recent one-for-ten scrip issue will be March 19, according to a company accouncement. The issue will capitalise 139.4 million yen from its capital reserves, bringing paid-up capital to 1.53 billion yen.40 words
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COMPANY MEETINGS
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Article14 1977-01-20 4 Jan 21, 12 noon, at Raffles Hotel, Beach Road, Singapore 7.14 words
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Article14 1977-01-20 4 Cycle Carriage Ltd.: Jan 22, 12 noon. Mandarin Hotel, 333 Orchard Road, Singapore 9.14 words
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Article14 1977-01-20 4 Jan 24, 12 noon. Registered Office, 114 Jatan Sultan Yussuf, Ipoh.14 words
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Article19 1977-01-20 4 Jar. 29. at the Board Room, 3rd Floor, Bangunan .UMBC, Jalan Sulalman. Kuala Lumpur.19 words
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LATEST RESULTS
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34 1977-01-20 4 Group net Sroflt $784,000 (loss $582,00- in the first half-year ended Sept 30, 1976. Sales $24.4 million ($12.9 million). Minority interest $153,000 ($55,000), leaving net profit of $631,000 (loss $527,000).34 words
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1072 1977-01-20 4 MICHAEL LAFFERTY - By MICHAEL LAFFERTY FT ALTHOUGH Mr. Douglas Morpeth Is most encouraged by the support already expressed for the current cost accounting (CCA) proposals which his steering group published on Dec 1, it Is likely that many problems will have to be overcome before his systemFT - 1,072 words
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471 1977-01-20 4 FT TWO, or possibly three, major new accounting standards and up to six draft standards are expected to be published In the next 12 months by the Accounting Standards Committee (ASC), the rule-making body on UK company accounting. The decision to proceed with theFT - 471 words
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344 1977-01-20 4 Reuter BRUSSELS, Wed. Rising Interest rates In the US are now having a clear impact on the Eurobond market with secondary market prices falling in the face of fairly active selling, bond sources In Belgium and Luxembourg said. The new Issue market remains fundamentallyReuter - 344 words
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Article1220 1977-01-20 4 On January 18 PRICES on the Chicago Board Options Exchange declined on Tuesday. Losers topped gainers. 314 to 153. CBOE volume approximated 98,667 contracts, compared with 88,100 contracts on Monday. OPTION JAN APL JLY STOCK Alcoa 45 U 1/2 NOL NOL 56 3/8 Alcoa SO 6 1/41,220 words
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276 1977-01-20 4 LARUT Tin Fields has rejected a MJ750.000 offer by the Trengganu State Economic Development Corporation for a range of assets of subsidiary Syarlkat Haslll which ceased mining operations at the end of last year. The assets Include mining equipment, machinery, an electrical power plant,276 words
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Page 4 Advertisements
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Advertisement462 1977-01-20 4 THESE ARE THE BOOKS THAT HITLER BURNED i w V. il§I«l !i :i v sliili t f l£l M 0 i -m aa. *1 "1-1 !i1 "r. iiglSlS*R §r 4 THE GREAT BOOKS OF WESTERN CMLIZAnON These are the books that had to burn. For within the GREAT BOOKS are462 words
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INTERNATIONAL COMPANY NEWS
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Article310 1977-01-20 5 Reuter NEW YORK, Wed. As forecast, Citicorp has achieved operating earnings per share of 88 cents In the fourth quarter of last year compared with 64 cents previously. This raised the full year EPS to $3.24 from 82.81 last time. Diluted It came to 83.08 82.73)Reuter - 310 words
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Article59 1977-01-20 5 Reuter FRANKFURT, Wed. Shell International Finance is negotiating with a banking consortium for a 200 million mark 12-year Eurobond probably at 63/4 per cent, manager Deutsche Bank said. The bank, which confirmed an earlier report from market sources, said the bond will be guaranteed by Shell PetroleumReuter - 59 words
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173 1977-01-20 5 Reuter CALGARY, Alta., Wed. Home Oil said Its 1977 budget calls for capital spending of about US$BO million, of which $32 million is exKcted to be spent In Alrta. The company said $54 million Is budgeted for oil and natural gas exploration. This Includes theReuter - 173 words
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Article337 1977-01-20 5 Reuter NEW YORK, Wed. Fourth quarter operating net profit at Manufacturers Hanover Corp rose 10.9 Der cent to U8838.19 Billion (834.44 million), bringing the full year total to 8143.3 million, up 5.1 per cent from 8136.38 million previously. Earnings per share came to 84.82 (84.59) for theReuter - 337 words
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Article217 1977-01-20 5 Reuter NEW YORK, Wed. High overseas earnings helped raise fourth quarter operating profit at Bankers Trust New York Corp by 34.1 per cent to U5816.5 million (812.3 million), making a full year total of 857.6 million (863.8 million). Other factors were greater f>roflts from securities tradng andReuter - 217 words
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367 1977-01-20 5 Reuter NEW YORK, Wed. The recovery noted in Chase Manhattan Corp in the third quarter of 1976 continued strongly Into the last three months reducing the full year profit setback to only 33 per cent. In the fourth quarter, operating net profit rose 33.8 per centReuter - 367 words
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Briefly
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Article99 1977-01-20 5 MELBOURNE, Wed. Conzlnc Riotinto of Australia (CRA) said its wholly owned unit, CRA Exploration, took up a series of options to acquire a 35 per cent stake in a joint venture to search for diamonds In the Klmberley district of Western Australia. CRA said the unit99 words
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Article80 1977-01-20 5 MELBOURNE, Wed. International Oil said It bought 4.60 million 25 Australian cents per shares in Timor OH on Jan 10. An International OH spokesman said the company acquired the shares from H.C. Sleigh but declined to disclose the amount paid. Timor shares traded at four80 words
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Article84 1977-01-20 5 TURIN, Wed. Flat shareholders approved by an overwhelming majority plans for Libya to subscribe to a 10 per cent capital Increase and to a convertible bond Issue which could ultimately give It a total stake of over 13 per cent In the company. Flat Chairman, Mr.84 words
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Article63 1977-01-20 5 TOKYO. Wed. LongTerm Credit Bank of Japan said it will raise capital to 83 billion Yen from 62 billion through a three-for-10 rights issue at par of 500 Yen, payable July 11, and a three-for-100 bonus issue, both to shareholders registered at end March. It will also offer63 words
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Article75 1977-01-20 5 MUSCAT, Oman, Wed Snamprogettl of Italy has signed an agreement with the Oman Government to construct a gas project In the country. The project, costing over US$55 million, Includes the construction of a 325 kilometre pipeline from the oilfields In the Elbal mountains to the A 1 Ohubra75 words
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Article39 1977-01-20 5 LONDON, Wed. Lloyds Bank International said It has been granted an onshore banking licence by the South Korean Government and will open a full branch office In Seoul. No date for the opening has yet been fixed.39 words
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Article66 1977-01-20 5 LOS ANGELES, Wed. TRW Inc expects to report 1976 earnings of slightly over USS4 per share, up over 25 per cent from $3.08 In 1975. Chairman H.A. Shepard told analysts. He said sales for the year were about 13 per centabove 1975's $2.6 billion. Mr. Shepard said assuming a66 words
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474 1977-01-20 5 NYT NEW YORK, Wed. A package of new rules governing many essential aspects of commodity trading will be formally placed before the Government's Commodity Future Trading Commission by its legal staff next week. According to Mr. William T. Bagley, chairman of the CFTC,NYT - 474 words
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Article201 1977-01-20 5 DETROIT, Wed. American Motors Corp chairman Roy D. Chapin Jr said the company will be able to handle outstanding loans of some US$7O million that must be renewed by the end of this month. Mr. Chapin told a news conference regarding the fiscal first quarter ended Dec201 words
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Article142 1977-01-20 5 Reuter ATLANTA, Wed. The Ford division of Ford Motor expects record new car and truck sales of over two million units this year. Mr. William P. Benton, general manager of the division, told a regional sales meeting here. Last year, the Ford division sold about 1.7Reuter - 142 words
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Article843 1977-01-20 5 SCHLUMBERGER FT A COMPANY which has head offices on both sides of the Atlantic. Is predominantly involved In the world-wide oil business, and yet has substantial Interests In other areas might form the basis for an end of term examination paper at any International business school.FT - 843 words
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289 1977-01-20 5 Reuter TOKYO, Wed. Consolidated net profit at Hitachi more than doubled to 34.92 billion yen from 16.23 billion ven in the first halfyear ended Sept 30, 1976. The profit jump was achieved on a sales rise of only 21.7 per cent to 1,081.3 billionReuter - 289 words
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Article98 1977-01-20 5 Reuter TOK\J. Wed. Mitsui Trust anu Banking. Mitsubishi Trust and Banking and Sumitomo Trust and Banking all said they will increase their Issued capital to 20 billion yen (551.68 billion) from the present 14.50 billion. Each company will make a three-for-10 issue of 50yen shares atReuter - 98 words
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Page 5 Advertisements
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Advertisement127 1977-01-20 5 FOR SALE Tht following fleet of second-hand vessels are available for immediate sale. These vessels can be inspected in Singapore and they are offered on basis "AS IS WHERE IS" Singapore Interested parties please contact: Mr Michael Leong Robin Shipyard (Pte) Ltd 19/25-A Cecil Street, Singapore 1 Tel: Singapore *****/*****3127 words
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Advertisement144 1977-01-20 5 *£> i-. Zz* y -1* J V »<&s»♦*♦ v£J VV ii lif mf iffli'ii Chief Representative: Saburo Itoh. .> 1 v* t **:>£>%£■ J? •< .U We are Japan's oldest trust bank and command a key position in the Mitsui Group. Our services are worldwide in scope. We have the144 words
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Article2044 1977-01-20 6 i»7 %m High Low Company Laat Sale +orGr'i div DW c'tt Gr'i t" Nat P/E V«1 Day High Low SECTION ONE INDUSTRIALS 175* 206 100 237 186 402 204 248 460 137 133 172 60 185 66 254 149 172 v 388 39 Ac ma Alcom Allied2,044 words
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Article1188 1977-01-20 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified. All Time Setlement Contracts are quoted after the word "Sett." Big Board1,188 words
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Article1241 1977-01-20 6 BID and offer prices 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 A. T»M <0.428). A|tnamata (2 008). Atom (2.138) 2.15. Alax* Maid1,241 words
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Article143 1977-01-20 6 B O T 8 1/2% 1981 (100,000) (102 103 *8) D B S 8 1/2% 1982 (100,000) (99V.8 100*S) DBS Converts 6 1/2* 1991 (100,000) (98*.8 97V«S) E I B 9* 1982 (100.000) (103 *B 103*8) E I B 8 1/4% 1983 (100,000) (100*B 100HS) I B143 words
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Article109 1977-01-20 6 5 1/2% 1/12/77 (1,000,000) (101.528 101.625) 5 1/2% 15/4/78 (1,000.000) (101.SOB 101.70S) 5 1/4% 15/7/78 (1.000,000) (101.408 101.455) 6 1/2% 15/8/78 (1,000,000) (103.258 103.455) 7% 1/7/79 (1,000,000) (104.808 104 90S) 5 1/4% 15/10/79 (1,000,000) (100.908 100 95SM 1)100.90 6 3/4% 15/S/80 (1,000.000) (102.958 103.055) 3/4% 1/12/80 (1,000.000)109 words
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Article147 1977-01-20 6 SINGAPORE UNIT TRUST (*mm' price* for Ju 26) INCOME BOND UNIT (Curreat price*) The Commerce 1.77 1.87 INCOME BOND The Saving Fund 0 96 1.03 1 09 MS S pore Prof Fund 0 82 0.87 S pore Security Fund .1.33 1.40 8'pore Invest Fund 1.06 1.12 MARA BUMIPUTRA147 words
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Page 6 Advertisements
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Advertisement117 1977-01-20 6 mmosTM mm with mm PUBimms HBMISIUBIIS DIVISION WOLSEY HALL COURSES Professional Examination Courses Institute of Administrative Management Institute of Bankers Inst, of Chartered Secretaries and Administrators Institute of Statisticians London Chamber of Commerce and Industry I Business studies courses Economics Commerce Administrative Practice Secretarial Company Secretarial Practice General Principles of117 words
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Article617 1977-01-20 7 WITH profit-taking petering out, trading at the Stock Exchange of Singapore yesterday turned steadier and moot shares finished the day a shade higher. However, tin shares remained steady with gains of two to 27 cents noted among the counters. Petaling Tin, Tronoh Mines, Tonghah Harbour, Ayer617 words
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Article578 1977-01-20 7 THE Kuala Lumpur stock market turned a shade steadier yesterday, with tin shares and selected Industrial stocks attracting the bulk of Interest. After a steadier opening, light buying and covering activities kept prices on an upward track for most of the day. to finish marginally578 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1071 1977-01-20 7 NEW YORK: Stocks, pressured by rising Interest rates and inflation worries, declined for the third consecutive session on Tuesday. But plunging temperatures across much of the nation provided many of the energyrelated issues with a strong buying Interest, lifting prices on some of these shares by a point1,071 words
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Article377 1977-01-20 7 JOHANNESBURG: Gold shares traded quietly firmer from the outset following European bullion Indications and quarterly results on Tuesday, with most Interest shown In uraniumorientated mines, dealers said. Financial minings were quiet and occasionally harder, although Duiker moved back 10 cents to 550 on profit-taking. De Been climbed five cents377 words
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Article320 1977-01-20 7 AMSTERDAM: The market ruled quietly mixed In general on Tuesday, despite lower Wall Street, but dealers noted an easier undertone. Royal Dutch was a marked rise In otherwise narrowly changed Dutch Internationals. IHC fell sharply on Its report of orders accepted at a loss. Van Ommeren, Gieesen, Bolt and320 words
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Article349 1977-01-20 7 PARIS: The market was generally lower In active trading on Tuesday, dealers said. Most sectors eased, though metals, rubbers and automobiles went against the trend and added a few point. Among individual gainers were UTA. Pierrefltte, Maiaona Phenix and Generate Dm Eaux. Printempa, however, lost four per cent. The349 words
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Article280 1977-01-20 7 ZURICH: The stock market continued slightly irregular with an easier bias, dealers said. In otherwise little changed leading banks Rsnkgw llsrhsfl bearer Improved somewhat, while KreditaasUlt bearer eased slightly. Among financial* some selling pressure emerged for Bally registered. Elektrowatt and For bo "A" while Surich bearer met some demand280 words
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Article273 1977-01-20 7 FRANKFURT: Shares eased by up to three marks under the Influence of weaker trends on both Wall Street and the domestic bond market on Tuesday. with some profit-taking on positions opened at the start of the year, bourse source said Motors and leading chemicals fell by up to 1.20273 words
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Article324 1977-01-20 7 TORONTO: Share prices came off their lows In the last hour of trading on Tuesday, but the Toronto Stock Exchange's composite Index still closed off one point in moderate trading. Banister Continental the most active industrial jumped 1% to 13S on 41,500 shares. Hamilton Trust advanced IS to 17%324 words
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Article390 1977-01-20 7 SYDNEY: The market closed generally easier in dull trading on Wednesday, dealers said The Sydney All-Ordinaries Index fell 2 63 points to close at 442.77 Among Industrials. CSR lost another 10 cents to A 53.00 and ANZ Ave cent* to 53.15, while Myers. ACI. and The Wales also lost390 words
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Article146 1977-01-20 7 MANILA: The market closed mixed on Wednesday with mining and commercial Issues posting moderate gains although oils declined in sharply reduced turnover, dealers said. Mining leaders were aided by the Improvement in metal prices, while drilling problems depressed oils. PLDT, Picop and GlobeMackay 1.1.1, firmed but San Miguel lost146 words
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Article165 1977-01-20 7 MILAN: The market moved irregularly lower In fairly active trading Influenced by recent monthly liquidation factors on Tuesday, dealers said. Montedison, Pirelli SPA and Gen Immob declined sharply. Fial dropped by 40 lire to 1.970. Other declining issues Included Pirelli E C. IF!. Bultfi and Am Gen. Elsewhere. Snia165 words
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Article167 1977-01-20 7 BRUSSELS: The market was again lower In quiet trading on Tuesday, overshadowed by the lacklustre performance of Wall Street, dealers said. FN, Cometrm, CBR%nd Arbed rose against the trend, but falls Included Compagnie Lambert, Traction, Unerg, Aaturienne, Vieille Montague, Hoboken, Cockerill. Clabecq and HaiaautSambre. UK Issues were firm, reflecting167 words
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Article488 1977-01-20 7 TOKYO: Prices recovered sharply towards the close on Wednesday, following the announcement of smaller than expected margin trading debts, dealers said. The Dow Jones average rose 46 70 to close at 4.989.51 with volume 230 million shares. The new index closed at 378.09. up 2.49 Recently-sold motors, highpriced electrlcals,488 words
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Article90 1977-01-20 7 JAN If Bahts Asia Fibre 122 .2 Bangkok Bank 240 unch Bangkok Invest. 147 -6 Bangkok Metropolitan Bank Bata Berll Jucker 101 .2 Charoong Thai Wire 162 +6 Dumex Duslt Thanl 174 4-4 Faber Merlin First Trust Indo-Thai 1758 J And J Ho 102 4-2 Jalaprathan Cement 84 .190 words
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Article452 1977-01-20 7 HONGKONG: The market was little changed In quiet trading on Wednesday while continuing to await a firm lead from overseas against a background of the London and New York markets moving in opposite directions, dealers said. The Hang Seng index rose 0.78 point to cloae at 439.52. Among market452 words
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Article69 1977-01-20 7 FINANCIAL TIMES INDUSTRIALS Tuesday 381.1 Monday 374.4 Week ago 358 6 DOW JONES AVERAGE INDUSTRIALS Tuesday 962 43 Monday 967.2ft Week ago 976.65 LONDON DOLLAR PREMIUM Tuesday 115'« to 115%% Monday 116 to 116'!% H.K. HANG SENG Tuesday 438 74 Monday 436 54 Week ago 439 18 SYDNEY INDUSTRIALS69 words
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Article37 1977-01-20 7 Reuter FRANKFURT, Wed. Deutsche Bank said Its 100 per cent subsidiary Compagnie Flnanclere De La Deutsche Bank of Luxembourg Is preparing a 400 million mark rollover Eurocredlt for Denmark with an expected seven-year life. ReuterReuter - 37 words
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Article39 1977-01-20 7 Reuter FRANKFURT, Wed. Deutsche Bundesbahn is Issuing a 900 million mark, seven per cent 10-year loan priced at 99.50 per cent, to yield 7.07 per cent, the Bundesbank said following a meeting of the Federal loan consortium. ReuterReuter - 39 words
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Article36 1977-01-20 7 Reuter BASLE, Wed. Coop Schweiz will float a 40 million franc 12-year 41/4 per cent loan at 99.5 per cent on the Swiss market between Jan 27 and Feb 2, Schwelzerlscher Bankvereln said. ReuterReuter - 36 words
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Article32 1977-01-20 7 Reuter ZURICH, Wed. Copenhagen Telephone will shortly float an 80 million Franc 15-year loan on the Swiss bond market, primary market sources said Terms are not yet fixed, they said. ReuterReuter - 32 words
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Advertisement97 1977-01-20 7 CEP I IDE a BRIGHTER FUTURE FOULKS LYNCH Enrol now with FEDERAL PUBLICATIONS Home Studies Division for the following FOULKS LYNCH Courses Association of Certified Accountants Institute of Cost and Management Accountants Association of International Accountants Institute of Taxation Institute of Accounting Staff Society of Company and Commercial Accountants Institute97 words
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COMMODITY REPORTS AND PRICES
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Article587 1977-01-20 8 FOLLOWING lower London advices, the Singapore rubber market yesterday opened about 1.25 cents lower. Prices fell another cent on stale bull liquidation and lack of support, with February traded at' 204.25 cents. Towards the morning close, however, some covering demand lifted prices slightly. Forward trading was fair, with587 words
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Article100 1977-01-20 8 DAILY SSR and SMR prices at noon yesterday: Feb Mar. R.A.8. (Current Mih) (Ko< ■ward Mill) Buver. Seller. Buyer* Seller* (cenl* per k() (cenU per kg) SSR 20 (1-ton Pallet) 100.00 191.OON 191.50 192.SON SSR 50 (1-ton Pallet) 1(7.50 188.SON 189.00 100.OON MREL.B SMR5CV 1-ton Pallet) 225.50100 words
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Article264 1977-01-20 8 THE Straits tin price In Penang yesterday was down $27 to $1,393 on an official offering up 7 tonnes to 227 tonnes. In LONDON yesterday, tin had on balance gains of £95 per tonne for Cash and £60 for Three Months in both contracts at the midday closing.264 words
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Article28 1977-01-20 8 Rubber: Ju 1$ Singapore: Feb. 204.75 (down 2.00 cts.) Malaysia: Feb. 209.50 (down 2.00 cts) Tin: $1,393.00 (down $27.00) Official offering: 227 tonnes (up 7 tonnes)28 words
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Article115 1977-01-20 8 THE following Palm Oil prices were i are elf Rotterdam and are quoted In I auoted in London on Tuesday. The prices J8 dollar per ton unless otherwise stated Twssday Pre*. Malaysia 5H (fa bulk Mch/Apl Sumatra 5H Jan Feb Mar Afloat Nigerian 5% ffa bulk Sterling per115 words
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Article67 1977-01-20 8 THE Malaysian Minister of Finance has fixed these rates for the period from Jan 20. until further notice: Rubber 94 5/8 cts. a lb. Copra $830 a ton Palm kernel $235.25 a ton The rate of duties payable are: Rubber 12 1/8 cts. a lb. (Surcharge 5 7/867 words
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Article284 1977-01-20 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk *83 lelleri. old drum 888 seller*, new drum *93 selleri Copra: Mixed (loose) UK/Cont. *53 buyers. Pepper: Muntok ABTA white f.o.b. 100* NLW 8345 sellers, Sarawak white f.o.b. 98* NLW *323 sellers. Sarawak special black284 words
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Article365 1977-01-20 8 IN the Singapore gold market yesterday, the kllobar was quoted at 5510,510 in early trading and with good trade support closed at $10,550. On a loco London basis, the metal was Initially quoted at US$l3l.BO/ 132.20 and Inched to close at $132.40/ 132.80 on small-scale buying support. The London365 words
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Article168 1977-01-20 8 LONDON, Wed. Silver closed the morning 0.4 pence higher to 0.5 pence lower. Values softened In the pre-market on a general lack of Incentives Including lower gold, dealers said. The market recovered In the ring as modest buying was encouraged by the buoyant tone in base metals. Three Months168 words
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Article82 1977-01-20 8 LONDON, Wed. Lead advanced by £10.25 per tonne for Cash and £9.75 for Three Months. This metal reflected the general trend with further fresh, chart and stoploss buying taking the market up to a record £351 per tonne at the end of brisk ring dealings of 3,900 tonnes. On82 words
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Article90 1977-01-20 8 LONDON. Wed. Zinc rose by £4 per tonne for Cash and £3.50 for Three Months. Fresh buying and shortcovering were evident although the heavy supply position tended to restrain thetadvance to some extent. The Three Months position worked up to £425 per tonne In the ring and finished the90 words
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Article397 1977-01-20 8 LONDON, Wed. Robusta futures opened steady £13 to £31 per tonne up from Tuesday night's close. Trading was quiet, with only 207 lots traded by end-call. May ended the call i'l4 higher at £2,645 after trading between a high of £2,650 and a low of £2,640. Dealers said shortcovering397 words
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Article129 1977-01-20 8 CHICAGO, Tues Wheat futures finished a light trade with fractional losses, easing V 4 to cent a bushel. Prices moved narrowly to either side of the previous close during the session, easing Initially In response to weakness In corn futures but finding support on strength In soybean futures. Corn129 words
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Article149 1977-01-20 8 CHICAGO, Tues Soybean futures closed 8 3/4 to 2 1/2 cents a bushel higher but finished below the day's top. After brief opening weakness reflecting losses in corn futures and the USDA's increased 1976 soybean production estimate, speculative buying Interest picked up and prices advanced. Commercial and professional selling149 words
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MONEY AND EXCHANGES
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Article507 1977-01-20 8 THE ACU/USS counter in Singapore yesterday saw another firming up of rates following news of more US banks raising their primes from six per cent to 6% per cent. The latest major U8 bank to announce the change Is Chase Manhattan. All major US banks are now reported to507 words
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Article161 1977-01-20 8 Asian rates ASIAN currency deposit Interbank rates as at close on Jan It. 7 days 1 mth 2 mth* 3 mtha 8 mtfis 9 mtha 12 mtha US Dollars*Spot) Offer Bid ....47/B 43/4 413/16 411/10 ....51/8 5 .53/1 31/4 513/16 511/16 61/16 5 5/16 61/4 6 i/a 8w. Fra. (mi<MUp<161 words
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Article53 1977-01-20 8 RANOE of prices offered by discount houses on Jan 19 Overnight 1* to 3** Call deposit 2% to 3*% Cloain) Buy 'selliaf 3-Month Treasury bills 3 l/> a 3-Month Bank bills 4 3/16 4 1/16 3-Month CD 4 5/8 4 7/16 6-Month CD 4 3/4 4 M Seuree:53 words
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Article61 1977-01-20 8 Minimum lending rates (in ACBC .6* First Chicago 6* Citibank e* Algemene Bank 6% Bangkok Bank Bank of America .7* HSBC 7 0* Indosuez 6* Bank of China .1 Malayan Banking 6* Bank of Tokyo e* Mitsui Bank 6* Bank Negara OCBC 6*i Indonesia .7* OUB Chartered Bank UCB 761 words
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Article247 1977-01-20 8 LONDON, Wed. The Bank of England continued to operate to restrain sterling's international advance, acting to sell sterling in early dues at about $1.7170 level, dealers reported. Sterling was quoted Initially at $1.7169/72 against $1.7155/60 overnight. The Bank of England's sterling depreciation rate dropped to 42.7 per cent from247 words
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Article129 1977-01-20 8 NEW YORK, Tues The dollar closed at a five-week trade-weighted high here, mainly reflecting expectations of firmer US shortterm interest rates and general confidence in the Carter Administration which takes office on Thursday. However, a smallert han- expected rise in fourth quarter real Gross National Product had only129 words
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Article122 1977-01-20 8 HONGKONG, Wed. The US dollar closed firmer at HK54.6970/ 6980 after opening at $4.6900/ 6950, itself well up on Tuesday's late rate of $4.6790/ 6820, dealers said. They said the rise in the US unit reflected its firmer trend in New York and described business as fairly moderate throughout122 words
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Article111 1977-01-20 8 TOKYO, Wed. The yen closed sharply higher against the US dollar which finished at 289.40 yen for overnight delivery compared with 291 yen at the opening and 291.40 yen at Tuesday's ckwe. The Bank of Japan Is believed to have bought a small amount of dollars to check the111 words
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Article136 1977-01-20 8 Euro rates LONDON, Wed. Near period Eurodollar deposits opened lower, reflecting the Friday dealings technicality, while longer positions tended to edge higher after Initial slight gains, dealers said. ShorU were steady. Initial technical lq*ses ranged to but the undertone generally was firm. This stemmed from expectations of higher US interest136 words
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Article41 1977-01-20 8 THE Monetary Authority of Singapore (MAB) Invites banks and discount houses to tender for $30 million 91day Treasury Bills to be Is- sued from Jan 24 to Jan 28, 1977. Each Tender must not be less than $250,000.41 words
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Article47 1977-01-20 8 AUSTRALIA/NZ exchanges quoted on Jan 19 Australia: Sterling 0.6361/0.6287 US dollar 1.0880/1.0832 Ninety-day air mail buying rates: Sterling 0.6661 US dollars 1.1140 Ninety-day forward buying rates: Sterling 0.6537 US dollars 1.0937 New Zealand: Sterling 0.5547/0.5517 US dollar 0.9566/0.9466 Ninety-day forward rate: Sterling 0.5926 US dollar 0.975147 words
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Article39 1977-01-20 8 ZURICH exchanges quoted on Jan 18 US 2.5037-5047 UK 4.2960-2990 Can 2.4660-4690 W Germ 104.20-29 Neth 99.41-52 France 50.24-28 Belg 6.77Vi-78* Denm 42.14-17 Norw 47.16-20 Swed 59.04-09 Italy 0.2837-2840 Austria 14.66-69 Port 7.77-80 Spain Arg 0.85-1.00 Japan 0.85V«-86%39 words
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Article33 1977-01-20 8 FRANKFURT exchanges opening quotes on Jan 19. US 2.4088/4103 2.4020/25) Can 2.3800/20 UK 4.130/145 Neth 95.43/58 Swltz 95.97/96.12 Italy 2.725/740 France 48.20/35 Norw 45.20/30 Belg com 6.492/507 Belg Fin 6.43/44 Japan 0.8305/2033 words
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Article280 1977-01-20 8 LONDON. Wed Eurobonds continued to trade mostly easier where changed, dealers said. Guilder bonds tended fractionally easier where changed while mark Issues looked a touch harder but trading was light. Convertible bonds were steady In average trading among the US Issues Eurobond prices quoted on Jan 19 STRAITS280 words
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Article290 1977-01-20 8 LONDON, Wed. Copper wlrebars rose by mostly £12.50 per tonne. Dealers said prices were marked up on the premarket where up to £848 was paid for Three Months following a very steady New York close, though profittaking soon pared gains. In the ring, however, after a slow start a290 words
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Article243 1977-01-20 8 LONDON, Wed. Terminal opened barely steady £0.45 up to £2.15 down from Tuesday's closing levels but up to £2.50 above the kerb close. Sales totalled 1,233 lots. The market held steady during late morning with long liquidation absorbed by light mixed buying. At the end of the morning, values243 words
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Article217 1977-01-20 8 BANGKOK, Wed. Indicative prices for rice quoted in Bangkok yesterday were: US dollars per tonne fob basis Bangkok. While Rice: 100 per cent Ist class 288 100 per cent 2nd class 273 100 per cent 3rd class 268 5 per cent 200 10 per cent 239 20 per cent217 words
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Advertisement162 1977-01-20 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding Hawaii)162 words
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TRANSPORT AND COMMUNICATIONS
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631 1977-01-20 9 Reuter LONDON, Wed. Nearly one in every two cars sold in Britain last month was foreign, representing a surge in imports which has British car-makers worried. Official figures show that imported cars took 46 per cent of the British market in December, an all-timeReuter - 631 words
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673 1977-01-20 9 TERESA LIM - By TERESA LIM LOCAL shipping companies are sceptical about Asia's first shipping exchange, the Orient Exchange, which is based in Singapore. It is too far ahead of its time, they say, and serves no real purpose. And yet they watch the Orient Exchange's goingson673 words
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Article201 1977-01-20 9 AP LONDON. Wed. There was far less interest in major grain trading routes on the London freight market yesterday, but slightly firmer rates were maintained for Atlantic shipments. Chartering on the grain trading routes was slow and varied. But payment of U559.25 (FIO) for a 28,000tonne FebAP - 201 words
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390 1977-01-20 9 AP TOKYO. Wed. An exhibition of imported cars has Just closed here, and the organisers are now waiting to see whether their efforts to persuade Japanese to buy more European and American cars will prove successful. The Japan Association of ImportedAP - 390 words
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Article, Illustration390 1977-01-20 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Benloyal (1100 after Tal Pine) 1/2 Global Explorer (0700 after Martha Bakke) 31/32 Hoo Maru (JHZE) (2200 after Melru hauls) (Clinker) 5 Keningau (0600 shifts) (agents' request) 20 Melru (1100 hauls 62m East after Straat Magelhaen) 6/7 Ragna Bakke (1230 after Wyoming) 47390 words
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260 1977-01-20 9 Reuter TOKYO, Wed A fiveman Soviet mission will visit here later this week to inspect Japan's motor vehicle factories, the Soviet Embassy announced yesterday. The embassy declined to disclose details of the mission's itinerary, but Toyota said the mission is scheduled to arriveReuter - 260 words
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Article595 1977-01-20 9 ARRIVALS Service Local Operator Number Time From OA OA 472 0200 SYD/MEL SAS SK988 0700 HLP MAS MH682 0810 KCH SIA SQ211 1010 HLP CPA CX710 1030 HLP OIA OA980 1030 HLP QIA OA908 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN SIA SQ201 1200595 words
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Page 9 Advertisements
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Advertisement379 1977-01-20 9 He b the new child in a new age. He needs the encyclopaedia for todays Britannica 3. 1 The child of tcxlay is more involved. More aware. And must learn 50% more than a child 20 years ago. That's precisely why yesterday's reference works can't really satisfy his needs. He379 words
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Article, Illustration940 1977-01-20 10 ROBERT CRABBE - By ROBERT CRABBE UPI FROM outposts in the icy mountains north of Seoul, American Ol's and North Korean soliders have glared at each other across a narrow no-man's-land ever since the 1950-53 Korean war. Today, the United States gets a new president whoUPI - 940 words
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1561 1977-01-20 10 RHYS DAVID - BY RHYS DAVID Financial Times AT A ceremony to mark the opening at the end of last year of a large new plant, the town of Oeel near Antwerp In Belgium was dubbed by Amoco, the U.S. oil and chemical company, theFinancial Times - 1,561 words
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Article998 1977-01-20 10 DONALD LIPSCOMBE - Ten years ago, Australia's Kambalda nickel discovery triggered a wild share boom that spawned exploration groups by the dozen along a 672 km arc- now called the nickel belt. Last year's discoveries at Teutonic Bore could do Ihe same thing for the copper-zinc miningFinancial Times - 998 words
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Page 10 Advertisements
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Advertisement347 1977-01-20 10 Good reading on from Penguin China the most populous nation in the world. Fast emerging as a-major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with Nixon, world347 words
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Article336 1977-01-20 11 Reuter AP BAOUIO CITY, Wed. Preslden Marcos said today that the Philippines had virtually solved the problem of marketing Its prime commodity, sugar, and hinted that the bulk of It was being sold for at least the cost of production. He confirmed the saleReuter; AP - 336 words
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Article176 1977-01-20 11 Reuter MANILA, Wed. The Philippines will have to Improve the performance of its industrial sector if it is to expand productive employment and ease its foreign exchange position, according to a World Bank report. The report, published at length In the Times Journal newspaper here today,Reuter - 176 words
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Article215 1977-01-20 11 A RANGE of electric cranes is being introduced to Singapore by an American manufacturer. Autocrane, to complement the manual and heavy duty hydraulic types already in the market. According to Mr. S. Oden, manager of Autocrane's export division, these cranes have been introduced successfully In Africa,215 words
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Article167 1977-01-20 11 UPI TOKYO, Wed. The Japanese Shipowners' Association (JSA) will send a mission to Seoul on Monday for preliminary talks on increasing Japan's share of freight transportation to and from South Korea, the Kyodo News Agency said today. Kyodo said Mr. Seishiro Miyamoto. JSA's executiveUPI - 167 words
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Article158 1977-01-20 11 DAIHATSU Diesel Manufacturing, which officially opened its representative office at the DBS building yesterday, is looking into the prospect of manufacturing dlesel engines in Singapore. Mr. M. Sekiya, Its manager, said that Daihatsu's officials, who are In Singapore for the official ceremonies, will be meeting soon with the158 words
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339 1977-01-20 11 WASHINGTON, Wed. Outgoing US Defence Secretary Donald Rumsfeld said yesterday that events In South-east Asia are less likely than in the past two decades to have a major impact on major power alignments. "The principal potential threat to stability comes from Vietnam,339 words
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203 1977-01-20 11 UPI BANGKOK, Wed. The United States will probably try this year to establish formal relations with Vietnam and Cambodia, US Ambassador to Thailand Charles Whltehouse Indicated today. In a speech to the American Chamber of Commerce, Mr. Whltehouse also predicted continued close relationsUPI - 203 words
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587 1977-01-20 11 KUALA LUMPUR. Wed. Operators of gravel pump mines are not rushing to increase their production activities inspite of the current high price of the metal. Those contacted by Business Times point out that while the high price might be considered an "incentive", there587 words
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Article164 1977-01-20 11 UPI SEOUL, Wed. South Korea's economy will grow i 10 per cent and per capita j Gross National Product (GNP) will shoot up 22 per < cent in 1977, Economic < Planning Minister Nam 1 Duck-woo said tcxlay. In a report to President Park Chung-hee,UPI - 164 words
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Article106 1977-01-20 11 AP MANILA, Wed. An estimated US$l52 million (*****.9 million) will be spent by Philippine oil exploration companies this year. Energy Development Board chairman Geronlmo Velasco said In a report published yesterday. Mr. Velasco, also chairman of the state-owned Philippine National OH Company, said the companies areAP - 106 words
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Article112 1977-01-20 11 Reuter JAKARTA. Wed. The Indonesian state oil company Pertamina and the Phillips petroleum group have discovered oil in a well on the island of Salawati, near the remote province of Irian Jaya, a Pertamina spokesman said. The well, named C-2X, has a dally capacityReuter - 112 words
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723 1977-01-20 11 AP BANGKOK: The dry season traditional time for war in South-east Asia Is shaping up as the bloodiest in Thailand's 12-year-old communist insurgency, with several costly ambushes and a major Government operation Involving neighbouring Malaysia already a matter of record. Some Thai militaryAP - 723 words
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219 1977-01-20 11 KUALA LUMPUR, Wed. Bumiputra participation in business will be discussed by the Trade and Industry Co-ordination Committee Central Division which is to hold its first meeting on Friday, Minister of Commerce and Industry Datuk Hamzah bin Abu Samah said. Deputy Prime Minister Dr Mahathir219 words
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150 1977-01-20 11 MR. TAN Wee Klan who resigns at the end of this month as Registrar of the Supreme Court here will go Into private practice. It Is not known who will be succeeding him as the Registrar, a post held by Mr. Tan for the past150 words
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Article128 1977-01-20 11 JapanAussie talks 'effective' Reuter TOKYO, Wed. Japanese Foreign Minister lichiro Hatoyama said the fourth round of Japanese-Austra-llan talks which ended here yesterday were highly effective, while Australian Foreign Minister Andrew Peacock said they were the most successful to date. Japan Is to send a highlevel investment survey mission to AustraliaReuter - 128 words
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Article152 1977-01-20 11 AP TEHRAN. Wed. Iran ia developing its three billion tonne copper ore deposit and, according to the deputy director of the state-owned National Iranian Copper Industries, Mr. Manuchehr Kasavar, will soon be one of the world's major copper exporters. The Iranian copper industry- isAP - 152 words
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411 1977-01-20 11 Reuter CAIRO, Wed. The Egyptian government, confronted by a wave of fierce riots against Its policy of price Increases, today suspended the rises It had ordered on several essential commodities. Cairo Radio announced the decision by President Anwar Sadat after the second successiveReuter - 411 words
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Article66 1977-01-20 11 AP BANGKOK. Wed. Authorities in southern Vietnam are turning the former prison colony of Con Son Island, about 240 km south of Saigon, into a centre for domestic and foreign tourists, the Vietnam News Agency (VNA) said today. The island, notorious for its tiger cage prison cells duringAP - 66 words
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Page 11 Advertisements
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Advertisement659 1977-01-20 11 APPOINTMENTS fZ Progressive Food Distribution and Processing Company invites applications to fill the following vacancies: 1. FINANCE MANAGER a. A qualified Accountant registrable with the Singapore Society of Accountants b. Minimum 3 years post-qualification industrial and/ or commercial experience c. Experience in EDP desirable but not essential 2. SECRETARY a.659 words
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Advertisement347 1977-01-20 11 MARKETING EXECUTIVE Consumer Products (around 20,000 p.a.) We are an International Trading Organisation and an opportunity has now been created within our organisation for an outstanding executive to head a major department of our business and to lead an existing team of sales personnel. The person we seek, should fall347 words
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Article, Illustration605 1977-01-20 12 THE average cost-conscious Singaporean has generally got by the last 12 months quite comfortably, sheltered as he was from the ravages of price increases that characterised 1974 and 1975. Inflationary pressures have, since 1975, eased somewhat and the Consumer Price Index has stabllsed at605 words
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Article214 1977-01-20 12 THE spread of communist Insurgency Internally and the manipulation externally by those who do not regard our countries to be "genuinely independent" are threatening the peace and stability of our region. "Despite this," said Mr. Chua sian Chin, Minister for Home Affairs and Education,214 words
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Article56 1977-01-20 12 Reuter JAKARTA, Wed. Indonesia and Singapore are exploring the possibilities of erecting a submarine cable between the two countries, a telecommunications spokesman said today. He said the general manager of Singapore telecommunications office, Mr. Goh Seng Kun, visited Jakarta recently for talks on the matter with the DirectorReuter - 56 words
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Article777 1977-01-20 12 LONDON, Wed. The stock market closed mixed In moderate trading and at 3 p.m., the Financial Times Index was up 0.4 at 381.5. Initial gains among equtUes were extended during the morning session on rumour*, subsequently denied, that the budget may contain measures to relax dividend restraint. A777 words
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303 1977-01-20 12 LAST year saw the "development and deepening'' of the Soviet Union's trade and economic ties with South-east Asia and particularly with Singapore, according to official Soviet sources. Quoting the USSR Foreign Trade Ministry figures, the Novosti Press Agency says that overall trade turnover (imports303 words
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Article81 1977-01-20 12 KUALA LUMPUR, Wed. Dato Abu Mansor bin Mohamed Baatr, managing director of Bank Kerjasama Rakyat Malaysia, was charged In the special sessions court here today with committing criminal breach of trust of M 51,250,860.63 belonging to the bank between March 22 and April 1, 1974. He pleaded81 words
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Article201 1977-01-20 12 Reuter LONDON, Wed. World mine production of tln-ln-concentrates In September 1976 was 14,100 tonnes, the same as In August and still down on the 16,900 tonne total of September 1975, the International Tin Council (ITC) said In Its January statistical bulletin. This brought the 12monthReuter - 201 words
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Article210 1977-01-20 12 KUALA LUMPUR, Wed. The government Is engaging an American expert to prepare the setting up of a palm oil exchange here. The parliamentary Secretary to the Primary Industries Ministry, Mr. Lew 81p Hon, said this today after paying a visit to the Straits Trading Company.210 words
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155 1977-01-20 12 A SINGAPORE Airlines Jumbo Jet hangar, a condominium housing scheme and the Singapore Bus Service headquarters are among 24 new projects, costing <81 million, approved recently for construction. Approval of the plans was given last November by the building control division of the Public155 words
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Article123 1977-01-20 12 Reuter LONDON, Wed. The come* spot silver price might rise to between U555.25 and 5.50 (8112.90 and 113.55) per troy ounce In 1977 and the London Metal Exchange (LME) cash settlement price to between 315 and 330 pence (8913.30 and $13.95). Amalgamated Metal Corp saidReuter - 123 words
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Article84 1977-01-20 12 Reuter TOKYO, Wed. Japan will defer its constrlbutlon to the Fifth International Tin Agreement until after March 1978, International Trade and Industry Ministry sources said. The sources said the ministry failed to get the necessary appropriation of 3.8 billion yen (8830.4 million) Included inReuter - 84 words
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Article, Illustration958 1977-01-20 12 'UK PRESS RESPONSIBLE' THE British press has created an erroneous impression in the mind of the world that Britain is a country plagued by strikes and conflicts of all kinds between management and labour. Sir Peter Matthews, managing director of Vlckers the large British engineering group said958 words
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Article28 1977-01-20 12 AP TOKYO, Wed. China and Thailand yesterday exchanged notes in confirmation of an agreement on recrlprocal registration of trade marks, the official Hslnhua News Agency said.AP - 28 words
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289 1977-01-20 12 THE resignation of the board of Bank Buml Daya, the largest bank (In terms of gross assets) In Southeast Asia will have no effect on the current banking situation tn Indonesia. In fact, earlier news reports about a possible credit squeese following the change of289 words
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Article254 1977-01-20 12 INDONESIA'S ability to borrow from the international money market may be made more difficult In the light of current troubles besetting its multl-million dollar syndicated loans made through Morgan Guaranty Trust of New York In 1975. But the Impact of these problems is not likely to254 words
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Article123 1977-01-20 12 TWO top executives of Chemical Bank the sixth largest US bank are due in Singapore on Sunday for a short business and speaking tour. They are Mr. David E. Bodner, senior vice-presi-dent and head of international treasury and foreign exchange operations, and Mr. Frederick w. Deming,123 words
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Advertisement169 1977-01-20 12 SEE PAGE 3 AU these bonds having been sold, this announcement appears as a matter of record only. NEW ISSUE January 1977. KEPPEL SHIPYARD LIMITED 5535,000,000 8% Per Cent. Bonds 1984 The Development Bank of Singapore Limited United Overseas Bank Limited DBS-Daiwa Securities International Limited Post Office Savings Bank Morgan169 words
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