The Business Times, 1 March 1977
1977-03-01
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The Business Times
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Title Section10 1977-03-01 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, MARCH 1, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article83 1977-03-01 1 UPI WASHINGTON, Mon. The United States suffered its worst monthly trade deficit In history In January as Imports exceeded exports by US$l.67 billion (554.09 billion) the Commerce Department said today. Cold weather, which forced plant closings and hampered the movement of goods, was the major reason forUPI - 83 words
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Article66 1977-03-01 1 KUALA LUMPUR, Mon. Manufacturing enterprises with less than M 5500,000 in capital will be required to restructure their equity participation under the Industrial Co-ordination Act. This is one of the proposed changes to be made to some of the conditions spelt out under the controversial Act. The66 words
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Article52 1977-03-01 1 Reuter VIETNAMESE farmers have harvested more than three million tonnes of rice in 15 southern provinces, according to a Radio Hanoi report monitored in Singapore today. The radio said that the yield was obtained from 1.5 million hectares of rlcefields and represented about 84 per cent of theReuter - 52 words
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Article43 1977-03-01 1 UPI TOKYO, Mon. Taisho Insurance Co. announced today it will operate an insurance business in Manila in March through a Joint venture undertaking with the Philippines Metropolitan Insurance Co. The firm will be called "Metro-Talsho Insurance," the announcement said. UPI.UPI - 43 words
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Article52 1977-03-01 1 Reuter COLOMBO, Mon. Sri Lanka Prime Minister Slrimavo Bandaranalke has announced that the already suspended Parliament will be formally dissolved on May 21. Speaking to her constituents at Attanagalla near here at the weekend, Mrs. Bandaranalke renewed her promise of democratic elections in the next sixReuter - 52 words
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Article69 1977-03-01 1 Reuter NEW YORK, Mon. Canadian Prime Minister Pierre Trudeau has said he would not use force to keep Quebec In the Canadian confederation if the province's people decided democratically that they wanted to secede. But he said that any attempt to promote secession through force wouldReuter - 69 words
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Article51 1977-03-01 1 Reuter LISBON, Mon. The Lisbon stock exchange, closed when Portugal's rightwlng dictatorship was overthrown by a coup In 1974, resumed full operations today but there were no transactions. The exchange closed after a brief session during which there were only seven offers to sell and one to buy.Reuter - 51 words
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Article41 1977-03-01 1 UPI NEW YORK, Mon. Dow Jones averages, based on first hour of trading on the New York Stock Exchange: 30 Indus 933.43, unchanged; 20 transp 221.46, down 0.35; 15 utlls 104.81, down 0.16; 65 stocks 304.89, down 0.19. UPIUPI - 41 words
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Chief Price Changes
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Article, Illustration165 1977-03-01 1 IN very quiet trading, share prices fell farther at the Stock Exchange of Singapore yesterday. The premiums on the option board also narrowed. Reflecting the easier trend, the Business Times index dropped 1.48 points to 260.51 while the Straits Times Industrial average shed 0.73 point to 252.50.165 words
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Article109 1977-03-01 1 Falls Most octivc Pegl M'sta O.C.B.C. On. Prop. $5.10 $7.40 $1.30 -.20 -.15 -.08 Gentlng Highlands 310,000 Central Sugars 107,000 Haw Par 94 000 Alcorn Lien Hoe $2.10 $1.94 -.06 -.06 General Lumber 34,000 U.O.B. 'A' $3.20 -06 Total Turnover: 1.07M O. Keramat $6.00 -.05 Total Value:109 words
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1101 1977-03-01 1 QUEK PECK LIM, JOHN TAN - MORE FOR TRANSPORT, COMMUNICATIONS By QUEK PECK LIM, JOHN TAN SINGAPORE'S budget deficit will increase by nearly 40 per cent In fiscal 1977 to $1.5 billion, with revenue expected to pro up by six per cent and expenditure rising slightly more, by1,101 words
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790 1977-03-01 1 THE competitive position of Singapore as a financial centre received a timely boost yesterday when the Minister of Finance, Mr. Hon Sul Sen. announced that all offshore tncome from Asian dollar market operations with few exceptions are to be taxed at the concessionary790 words
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476 1977-03-01 1 IN an effort to speed up Implementation of Asean "s five industrial projects, the economic ministers of its five partners have accorded top priority to the completion of feasibility studies on the projects and flnalisatlon for the products of these industries. Officials concerned with476 words
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Article123 1977-03-01 1 MANILA. Moa. President Marcos Mid here today that kt may travel "vary soon" to Kuala Lumpur to attend aa Asean summit conference and later to Japan for aa official visit. Mia remarks came amid m»rts from Tokyo that he was scheduled to visit Japan from April 25123 words
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406 1977-03-01 1 THE Government yesterday further increased taxes to discourage the consumption of liquor and tobacco products, and announced tax concessions which will have an impact on both the individual and the economy. In total, the tax proposals add only a miniscule $8.8 million to revenue406 words
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103 1977-03-01 1 PARLIAMENT yesterday passed the National Statistical Commission of Singapore (Amendment) Bill. The Bill provides for Its annual report to be prepared on a financial vear instead of a calendar year basis. It also appoints formally the Auditor-General to audit its accounts and exempts103 words
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226 1977-03-01 1 SEVERAL banks In Singapore have been approached by Hungary, through the West Asian subsidiary of American Express International. to act as comanagers of a Sl2O million loan. The American Express subsidiary, making the approach on behalf of the State Bank of Hungary, sent226 words
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Page 1 Advertisements
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Advertisement53 1977-03-01 1 The dean look of efficiency. I Soe Agents INSIDE Budget speech Oversees news Local Co news International Co Local stocks Overseas stocks P 2 Commodities p g P 3 Transport p Communications P P5 rwESi-*-./ Pl p c yJvvTWGkB newi/ r TV ft Radio PU P 7 Local 4 Overseas53 words
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Advertisement63 1977-03-01 1 Instant Accommodations! Choice, luxurious apartments tastefully designed, reflecting a high class of living. Situated right in the heart of the city within walking distance of best eateries, shopping and recreational facilities. Rental from $2500/- per month. We take care of everything for you. |ust move in with your luggage. Hong63 words
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Advertisement7 1977-03-01 1 Mr. Hon'* budget statement in full P2.)7 words
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Advertisement99 1977-03-01 1 U-BIX COMPLETE COPYING SYSTEM APS ELECTRONICS (PRIVATE) LIMITED &neapor» T> 33t001 (iOnrnt) APS ELECTRONICS <M| SON BHO *UM.» LUMPUB T»i J036?? »1«0 EXPORT. GOOD FOR YOUR DUSINCSS, GOOD FOR SINGAPORE. The Chartered Bank takes the complications out of export and puts the service in. More than 1500 branches all over99 words
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Article540 1977-03-01 2 THE Budget yesterday reflects once again the Government's policy of self-help. External circumstances have always to a large extent determined our fortunes. However, we have never been known to allow this to make us become fortune's playthings. The government crystal-ball gazes and attempts to take appropriate540 words
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4633 1977-03-01 2 The Finance Minister's speech JjU UXJtMh i to Parliament yesterday 1976 SAW the gradual recovery of the world economy, with the Industrialised countries in the Organisation for Economic Cooperation and Development (OECD) making a real growth of 5 per cent. There was4,633 words
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Advertisement387 1977-03-01 2 He k the new chM in a new age. He needs the encyclopaedia lor today. Britamka 3. m The child of today 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. He387 words
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OVERSEAS
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243 1977-03-01 3 Reuter LISBON, Mon. Portugal devalued the escudo by IS per cent and raised the bank rate to eight per cent from 6.5 per cent. Secretary of State for Information Mr. Manuel Alegre announced on television. At the end of a cabinetReuter - 243 words
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Article192 1977-03-01 3 Reuter LONDON, Mon A British politician said yesterday he would urge France and Britain to ban all flights between their countries and New York until the city's "dirty tricks department" stopped trying to prevent Concorde from landing there. Member of Parliament Robert AdleyReuter - 192 words
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404 1977-03-01 3 Reuter LONDON. Mon. The National Institute of Economic and Social Research (NIESR) said It expects total world output of goods and services to expand at a steady four per cent to 4V4 per cent annually in 1977 and 1978, with fixed Investment accountingReuter - 404 words
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356 1977-03-01 3 Reuter SEOUL, Mon. South Korea will Increase Its foreign exchange reserve by 27.2 per cent to U553,740 million (559.160 million) this year, according to a plan approved by economic affairs ministers. After levelling off to $1,049 million in 1974, the foreign exchangeReuter - 356 words
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Article291 1977-03-01 3 Reuter MUNICH, Mon. West German manufacturing industry is sceptical about prospects in the next six months due to excess capacity and Inadequate order backlogs, the IFO economic research Institute said. Exports are expected to remain at alreay-achleved levels in the next three months, while production rises areReuter - 291 words
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Article63 1977-03-01 3 Reuter TAIPEI, Mon. Government statistics show the value of Taiwan's crude oil imports rose 68.7 per cent to US$l.O5 billion (552.6 billion) last year, representing 13.9 per cent of total Imports, the official Central News Agency reported. The value of refined petroleum product exports rose 125.4Reuter - 63 words
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Article162 1977-03-01 3 Reuter WASHINGTON, Mon. President Carter's plan to stimulate the economy by granting cuts in personal income tax will add to Inflation without reaching Its goal of reducing employment, economist Dr. Milton Friedman said yesterday. In an Interview with "US News and World report" the Nobel prize-winningReuter - 162 words
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308 1977-03-01 3 Reuter LONDON. Mob. A forecast for UK pay settlements to average 15 per cent in the 1977/78 wage round seems realistic, as the third year of British pay restraint is expected to see an out-turn for wage settlements substantially in excess ofReuter - 308 words
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Article107 1977-03-01 3 Reuter LONDON, Mon. The balance of payments benefits of North Sea oil could enable the external debt which the UK has accumulated since 1973 to be eliminated by 1981 or even earlier, the Midland Bank group said in its quarterly review. But the reviewReuter - 107 words
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Article71 1977-03-01 3 Reuter SEOUL, Mon. South Korea's state-owned Pohang Iron and Steel Co. (Posco) dedicated a US$l3O million (*****.5 million) cold-rolled steel plant with an annual capacity of 485,000 tonnes at Pohang City on the southeast coast. Posco said It plans to export about 70 per cent of theReuter - 71 words
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468 1977-03-01 3 Reuter LONDON, Mon. The British Trades Union Congress, calling for economic reflation of more than £2 billion (SJB.4 billion) In 1977/78 Including tax cuts of around £1.7 billion, said Its willingness to agree to a third year of pay restraint willReuter - 468 words
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Article125 1977-03-01 3 Reuter TOKYO, Mon. Prime Minister Takeo Fukuda Instructed Deputy Foreign Minister Bunroku Yoshlno to advise against protectionism when he attends a preparatory meeting for the forthcoming summit of Industrialised nations. Government sources said. The preparatory talks are being held In Washington from March 21. withReuter - 125 words
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Article257 1977-03-01 3 Reuter TEL AVIV, Mon. Israeli Government and trade union representatives today agreed on a pay rise for 40,000 civil servants to solve a dispute which had threatened to close all government services. The accord, which also covers another 100,000 municipal, university and Jewish agency employees, Is expectedReuter - 257 words
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Article, Illustration398 1977-03-01 3 Reuter MUNICH, Mon. German Chancellor Helmut Schmidt said he will continue to resist foreign demands for more reflation of the German economy. Germany had already created stimulatory budget deficits through tax reliefs, economic and employment programmes, and Is now working on an InvestmentReuter - 398 words
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200 1977-03-01 3 Reuter ROME. Mon. Italy's economic strategy comes under the searching scrutiny of International Monetary Fund (IMF) experts this week as negotiations reopen for a multi-million dollar loan. The Government Is seeking at least US$53O million (551.299 million) In standby credit but would like to seeReuter - 200 words
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Article656 1977-03-01 11 SADAT: IF U.S. USES ITS INFLUENCE. UPI NEW YORK, Mon. President Anwar Sadat of Egypt said In a television Interview broadcast yesterday that if the United States used its influence in negotiations, there could be peace In the Middle East within one month. "WeUPI - 656 words
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Article341 1977-03-01 11 Reuter NAIROBI, Mon. Uganda ordered its 21,000-strong armed forces on full alert today with a warning that an American naval task force off East Africa must be seen as a threat to the country. The statement, broadcast by Radio Uganda, marked a sudden changeReuter - 341 words
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Article106 1977-03-01 11 Reuter MANILA, Mon. President Marcos said the cost of PhillDDine oil Imports is likely to rise to US$977 million ($2.4 billion) In 1977 from $820 million In 1976, which could aggravate balance of payments problems. Higher oil prices could raise prices in the utilities sectorReuter - 106 words
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Article72 1977-03-01 11 AP KUWAIT, Mon. Kuwait has engaged the Japanese construction firm Toa to undertake construction operations worth US$l33 million (***** million) at the Kuwait naval base, the Government announced yesterday. The contract amounted to 40 per cent of the total cost for the projected base, estimated at US$332AP - 72 words
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Article117 1977-03-01 11 Reuter TOKYO, Mon. The Chemical Fibres Association said It started studying possibilities of forming a recession cartel to curtail production of synthetic fibres by member firms. It said a final decision on forming the recession cartel, the first to be set up by synthetic fibre manufacturers,Reuter - 117 words
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Article278 1977-03-01 11 Reuter BANGKOK, Mon. Thai military authorities have imposed a night-time curfew and special restrictions on the sale of certain goods in a new drive against communist guerillas in southern Thailand. The new restrictions came into effect at Surat Thani and Nakhon Si Thammarat provinces whichReuter - 278 words
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1242 1977-03-01 11 LESLIE COLITT - Germany is becoming a major investor in other people's industry, particularly in the United States. But some Germans are worried that putting German money into other countries is, in effect, exporting manufacturing jobs from Germany to those countries. By LESLIE COLITT FINANCIALFINANCIAL TIMES - 1,242 words
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266 1977-03-01 11 Reuter PEKING, Mon. Russia's chief negotiator at the stalled Sino-Soviet .order talks left Peking today after an abortive three-month attempt to break the deadlock. Informed sources said Moscow has given up hope of an early breakthrough but the envoy, Deputy Foreign Minister Leonid Ilylchev,Reuter - 266 words
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436 1977-03-01 11 UPI HONGKONG, Mon. China's railways, already described by the Communist Party newspaper as "a weak link In the national economy," are still being sabotaged by "class enemies," Peking Radio reported today. The radio also indicated In another national broadcast that the situationUPI - 436 words
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279 1977-03-01 11 Reuter TOKYO, Mon. Japan's seasonally adjusted preliminary production Index in January was unchanged from the revised December level at 128.8 (base 1970), the Trade and Industry Minister said. This followed a revised decline of 0.1 per cent In December. The January index was 11.3Reuter - 279 words
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Article354 1977-03-01 11 Fall in rates may go on' INTERNATIONAL brokers, James Capel of London believes that the present, downtrend in interest rates in Britain is likely to continue as there still exists a wide margin between rates offered by countries with stable currencies and those In Britain. In its latest monthly bulletin354 words
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Article60 1977-03-01 11 Reuter JAKARTA, Mon. Vietnam, Laos and Cambodia are expected to attend a South-east Asian ministerial conference on education and culture to be held here on Thursday, it was officially announced today. The announcement said that other countries attending the conference of the South-east Asian Ministers ofReuter - 60 words
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Advertisement166 1977-03-01 3 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times m BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) ■I Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually w rapped and mailed) Zone Brunei. Sarawak. Sabah166 words
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COMPANY NEWS
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1320 1977-03-01 4 MALAYAN Banking has timed Its right Issue well. The current liquid position In the private sector ensures that the $45 million It would have to contribute as Its share of the rights would be easily forth-coming. The otner $45 million would be paid by the1,320 words
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Article, Illustration600 1977-03-01 4 EARNINGS at Shangri-La Hotel appear to have come to a standstill with pre-tax profit for year ended Dec 31, 1976 coming to $6.05 million against $6.01 million previously. This gives a nominal growth rate of only 0.7 per cent against 17.9 per cent In 1975. An600 words
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Article247 1977-03-01 4 THE Kuala Lumpur Stock Exchange has confronted Faber Merlin Malaysia with additional queries over certain Items in the company's annual report for the year ended June 1976. It has asked Faber to comment on the group's taxation for the year which amounted to M 53.95 million247 words
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386 1977-03-01 4 THANKS to a strong second half-year, group pre-tax Eroflt at Genting Highlands [otel rose 21 per cent to MJ21.76 million for the year ended Dec 31, 1976. Revenue came to $42.69 million, an Increase of 14 per cent over 1975. The results for the parent386 words
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Article292 1977-03-01 4 MR. Dario Regazzoni manager of The Marco Polo has announced the promotion of Mr. Klaus G. Mennekes to executive assistant manager In charge of food and beverages, Mr. Edwin Cho to general sales manager, Mr. N.S. Raj to assistant manager In charge of rooms and front office292 words
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COMPANY MEETINGS
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24 1977-03-01 4 THE following company meetings are due: Mar 4, 11.30 a.m., at Hotel Negara, 19 Claymore Drive, Singapore 9.24 words
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Article23 1977-03-01 4 Mar 7, 12 noon, at the Ballroom, Lower Lobby of the Regent of Kuala LumEur, Jalan Imbl, Kuala umpur.23 words
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18 1977-03-01 4 Mar 9. 12 noon. Registered Office, 3m. 5., Jalan Kluang, Batu Pahat, Johore.18 words
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Article12 1977-03-01 4 Mar 15, 2.30 p.m., 70 Jalan Ampang, Kuala Lumpur.12 words
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Article16 1977-03-01 4 Mar 17, 11 a.m Registered Office, 178-3 Jalan Sungel Besi. Kuala Lumpur.16 words
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Article15 1977-03-01 4 Mar 21. 10 a.m., 13th Floor, Tunas Building. Anson Road. Singapore 2.15 words
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Latest results
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Article43 1977-03-01 4 Pre-tax profit was M 5479,100 ($305,200) for the first halfyear ended Dec 31. 1976. Dividend income $430,300 ($324,200), interest Income nil ($300), profit on sale of shop houses $80,000 (nil) and sundry income nil ($2,500). Depreciation and expenses $31,200 ($21,800).43 words
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Article50 1977-03-01 4 Group pre- tax profit was M 52.76 million ($3.53 million) for the first six months ended Nov 30, 1976. Turnover $22.82 million ($25.09 million). Profit Is after share of loss less profit of associates $154,811 ($466,517). Parent pre-tax profit $613,707 (loss $655,832) on revenue $1.85 million ($782,771).50 words
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Article40 1977-03-01 4 Un- audited pre-tax profit M 57.34 million ($3.58 million) for the first six months ended Dec 31, 1976. Sales $44.64 million ($24.02 million). Interim dividend five per cent (nil) payable April 30 to shareholders registered on March 28.40 words
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Article32 1977-03-01 4 Consoli- dated pre-tax profit M 5202,000 ($77,000) for the year ended Sept 30, 1976. Tax credit $11,000 (debit $6,000) leaving net profit $213,000 ($71,000) before exceptional losses $63,000 ($596,000).32 words
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Article214 1977-03-01 4 Current Ex Date Total for Total for payment Date payable Ihe year pre\ ious year Straits Times Time* Publishing M. Tobacco Wilkinson Process Idris Hvd Tanjong Tin Aver Molek S.P. Textile Rahman Hyd. Yeo Hiap Seng (M) Gopeng Con. Pengkalen Yeo Hiap Seng U.A.C. NK.L. Kepong Prima M214 words
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1164 1977-03-01 4 THOMAS E. MULLANEY - By THOMAS E. MULLANEY NYT THERE is an atmosphere of obvious apprehension In steel Industry circles these days. Perhaps It's the normal mood In a period such as this when the Industry's negotiators are locking horns with their labour counterparts In the triennial bargainingNYT - 1,164 words
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302 1977-03-01 4 NYT NEW YORK. Mon. The machine tool industry in the US got off to a strong start in January. according to figures released over the weekend by the National Machine Tool Builders Association. The trade association placed orders for new machine tools in JanuaryNYT - 302 words
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Advertisement167 1977-03-01 4 TOP EXECUTIVE how to achieve it...how to hold it...TODAY.. hmmwoui' younger executive V Tliis forceful, fast-reading new Guide exposes the dynamic strategies seldom openly discussed and almost unknown to the younger man who needs them most. HU> \o<i \Q)J Now you can learn: how to create and project the right167 words
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INTERNATIONAL COMPANY NEWS
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Article290 1977-03-01 5 Reuter NEW YORK, Mon. American Telephone and Telegraph said that In 1976 It purchased over US$l billion In telecommunications products from outside suppliers. A company spokesman said the amount was about in line with such spending a year ago, but AT and TReuter - 290 words
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Article113 1977-03-01 5 Reuter CHICAGO, Mon.— Esmark, the giant meat-packing concern, has reported lower first quarter profit and blamed severe weather and the continued reduced margins In the commodity food businesses. Esmark's chairman, Mr. Robert Reneker, told the annual meeting that pretax profit was ahead of those In the thirdReuter - 113 words
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309 1977-03-01 5 Reuter MELBOURNE, Mon. Broken Hill said It Is awaiting further contact from the Vietnam Government to resume talks on possible oil exploration In the South China Sea. Its interim report also said It Is continuing negotiations with the Malaysian state oil firm Petronas onReuter - 309 words
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Article182 1977-03-01 5 Reuter LONDON, Mon. Grlndlay Brandts said It has been awarded the mandate to arrange a US$34 million loan for Corporation Estatal Petrolera Ecuatorlana (Cepe) the Ecuador state petroleum company. The seven year loan carries the guarantee of the Republic of Ecuador and forms part of aReuter - 182 words
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Briefly
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Article83 1977-03-01 5 LONDON, Mon. Eagle Star Insurance said It proposes to repay the whole of the Issued preference share capital consisting of one million four per cent preference shares of £1 each and one million four per cent second preference shares of £1. Terms are 45 p cash for each83 words
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Article30 1977-03-01 5 Reuter PROVIDENCE, R.I. Mon. Textron said directors voted to raise the quarterly dividend to 35 US cents a share from 30 cents, payable April on record March 15. Reuter.Reuter - 30 words
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Article69 1977-03-01 5 General Tire Rubber AKRON. Ohio. Mon. General Tire and Rubber said It Is postponing its annual meeting, normally held In March, until a report of a special board committee has been filed with the Securities and Exchange Commission. The company said It expects to file the report. concerning an Investigation69 words
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Article37 1977-03-01 5 HONGKONG, Mon. Wynncor has doubled the total dividend of 1976 to 50 HK cents with a final of 30 cents (25 cents). Consolidated net profit for the year rose to $11.65 million from $4.75 million previously.37 words
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Article62 1977-03-01 5 ROME, Mon. Ente Nazlonale Idrocarburl confirmed a drilling ship operated by Its subsidiary Salpem for an ItalianLibyan consortium was ordered to suspend drilling In Mediterranean waters by a Tunisian military unit. The Incident took place last week. Oil Industry sources said the ship was drilling In waters claimed as62 words
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Article23 1977-03-01 5 HONGKONG, Mon. Shaw Brothers Is paying a maintained Interim dividend of 15 HK cents for the year ending March 31, 1977.23 words
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Article28 1977-03-01 5 MELBOURNE, Mon. Comalco has proposed a final dividend of 5.25 Australian cents, up from 1.5 cents previously, making a total of eight cents (three cents) for 1976.28 words
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Article40 1977-03-01 5 FRANKFURT, Mon. Mexico's state-owned financing agency, Nacional Financiera plans a 100 million mark 8 3/4 per cent seven-year Eurobond, bond market sources said. They said pricing Is expected below par and named the lead manager as Dresdner Bank.40 words
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Article23 1977-03-01 5 HONGKONG, Mon. Overseas Trust Bank Is paying an unchanged interim dividend of six HK cents for the year ending June 30, 1977.23 words
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Article69 1977-03-01 5 ARNHEM, Mon. Akzo said It proposes passing Its final dividend for the second year running In 1976 after last paying a total of four guilders In 1974. Net 1976 profit before extraordinary Items was two million guilders against a loss of 193 million guilders. Net loss after extraordinary69 words
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Article51 1977-03-01 5 TOKYO, Mon.- On a 20.8 Ser cent rise In sales to 92.06 billion yen (241.8 billion yen), Asahl Glass has raised after-tax profit by 59.2 per cent to 9.2 billion yen (5.78 billion yen) in 1976. Despite the profit Jump, the company Is maintaining the dividend at seven51 words
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Article61 1977-03-01 5 Reuter TOKYO, Mon. Sales of the 12 billion yen, 10-year bond from the Provincial Government of Manitoba, carrying a coupon of 8.6 per cent and Issued at par from Feb 18, were not too bad, Nlkko Securities said as lead manager. Nlkko said payment was completed last Saturday, andReuter - 61 words
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Article38 1977-03-01 5 LONDON, Pre-tax profit at Johnson, Matthey rose to £14.03 million from £9.5 million In the first nine months ended Sept 31,1976. Tax was £7.02 million (£4.91 million), leaving £7.01 million (£4.6 million). Minorities were £71,000 (£35,000).38 words
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Article128 1977-03-01 5 Reuter WASHINGTON. Mon. The Federal Trade Commission approved the application or Kennecott Copper to sell two coal mines owned by Its subsidiary, Peabody Coal, to Utah Power and Light. The two mines are In Emery county. Utah Power will pay $25.4 million for the mines,Reuter - 128 words
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137 1977-03-01 5 Reuter LONDON, Mon. Allied Irish Banks plans to Issue US$3O million of floating rate subordinated notes due 1984 in the international capital market, Credit Suisse White Weld said. The notes which will be issued at par will carry Interest payable semiannually at 1/4 perReuter - 137 words
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131 1977-03-01 5 Reuter FRANKFURT, Mon. A total 43 per cent of German companies In the industrial and service sectors contacted by Commerzbank In a survey Intend to Increase domestic Investment In 1977 from last year's levels against only 30 per cent questioned at the beginningReuter - 131 words
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Article143 1977-03-01 5 NEW YORK, Mon. Despite a marginal revenue decline, Litton Industries has achieved a 60.6 per cent Jump in operating net profit U TT< *sl4.2s million ($8.87 mlllio. > In the second quarter e ""ed Jan 31, 1977. Rever- fell to $853.1 million from $867 million. The second143 words
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110 1977-03-01 5 Reuter PARIS, Mon. Banque Provinciate du Canada, a Quebec-based bank, plans to acquire an agreed 20 per cent stake In Banque de L'Unlon Occidental from the Banque Worms Oroup, a Worms spokesman said. The transaction will take plare after approval of the monetaryReuter - 110 words
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Article66 1977-03-01 5 Reuter MILAN, Mon. The board of Montedison SPA meets today but a spokesman said he was unable to give details of what they will discuss. Industry sources said the board Is expected to finalise plans for detachment from the group of Its banking and Insurance activities,Reuter - 66 words
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Article46 1977-03-01 5 ZURICH, Mon. Net 1976 profit at Schwelzerlsche Bankgesellschaft rose to 233.7 million francs from 208.9 million francs. The bank has proposed to unchange dividend of 20 per cent. Total assets at end-1976 stood at 52.6 billion francs, up from 47.3 billion francs a year ago.46 words
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Article844 1977-03-01 5 MUTUAL FUNDS NYT NEW YORK, Mon. The mutual fund Industry has pulled another marketing rabbit out of the hat. In the last week or so, sales of the industry's newest product tax-exempt municipal bond funds appear to have passed the USSI billion mark. The oldest of theNYT - 844 words
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122 1977-03-01 5 Reuter CHICAGO. Mon. General Motors chairman Mr. Thomas A Murphy said GM could begin work by next year on Its Oklahoma city assembly plant which was delayed because of the energy crisis and recent recession. He told a press conference the firmReuter - 122 words
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Article94 1977-03-01 5 Reuter NEW YORK, Mon. White Shield said the Prlnos No. 5 appraisal well In the North Aegean Sea offshore Greece was successfully tested at an average rate of more than 3,700 barrels of oil per day. North Aegean Petroleum (NAPC), as operator for a group IncludingReuter - 94 words
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Article77 1977-03-01 5 LONDON, Mon. In the first three months ended Dec 31, 1976, pre-tax profit at Lonrho rose to £22.8 million from £19 million on sales of £279.4 million, up from £233.9 million last time. The profit Includes share of associates earnings of £600,000, down from £1.8 million last time.77 words
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773 1977-03-01 5 VARTANIG G. VARTAN - By VARTANIG G. VARTAN NYT INVESTORS buy railroad stocks for a number of reasons: Climbing dividends, low price-earnings ratios, traffic benefits from carrying coal, or even a play In oil-producing properties as, for example, in the case of Union Pacific. But the hottestNYT - 773 words
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Article606 1977-03-01 5 NYT WASHINGTON, Mon. The Securities and Exchange Commission plans to ask Congress this year for additional subpoenaenforcement powers for Investigations involving Swiss banks and other foreign entitles not subject to the jurisdiction of American courts. The agency believes this could be done indirectly by authorisingNYT - 606 words
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Advertisement423 1977-03-01 5 In this issue we feature lllTOTiiScsl MC(W«2/vr7 VOL.I MO2 rtmjwwr ppcttaoo J* The people who matter already know us. Join them. Get a copy from your newsvendor or mail this coupon now and get a free slip-case which will hold the 12 issues. Subscribe now and get 12 issues of423 words
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Article2105 1977-03-01 6 i»7vn Hick Urn CMpu; Last Sale +orGr» div Dtv c'vr Gr'* y'M Net P/E Vol ('090) Day High Low SECTION ONE INDUSTRIALS 175* 133 2M 100 237 IM 29i* 294 248 «0 133 129 172 90 in 98 117* 149 172 384 Acma Aetna A Alcom Allied2,105 words
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Article1128 1977-03-01 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 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board1,128 words
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Article1201 1977-03-01 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. Industrial* A.m. <1 438) (11 1.43. <1> 1.42. A. T<n (0 498) (2)1,201 words
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Article151 1977-03-01 6 STRIKING prices of the stock options offficially listed on the Stock Exchange of Singapore, the periods, bid and ofTer prices and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June 13.90) (0.258 0.265) (15) 0.26, (3) 0.25't. F and N (June -$4.00) (0.358).151 words
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Article149 1977-03-01 6 SINGAPORE 1 NITTRl ST INCOME BON'I)I'XIT (Managers' prices for Mar. I) (Current prices* TheCommerce 1 76 1 86 INCOMEBOND 1.10 116 The Saving Fund 0 92 0 97xd S pore Prog Fund 0 82 0 87 M ARA Bl'MIPlTRA Fl'NI) S'pore Security Fund 138 1*6 (Manager*'prices for Mar149 words
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Article24 1977-03-01 6 D B S 8 1/2% 19K2 (100.000) (99%8 100* aS) Orient Leasing H 1/4% 19N2 (50.000) (99 7 aß 100'.S) S*&TF 1/3/78(827,000X1)102 8024 words
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Page 6 Advertisements
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Advertisement206 1977-03-01 6 i »y> V*. ?V'- Alex Josey has long been en observer, recorder end commentator of the Singapore scene. In this new book, he exemines end explains the success of Singapore's tripartite alliance of Government, workers end employers. A substantial part of the book is devoted to the full text of206 words
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Article464 1977-03-01 7 SHARES continued to move on an easier bias in low volume trading at the Stock Exchange of Singapore yesterday. The wait-and-see attitude was ail too pervading as most investors and dabblers await the outcome of the Singapore Budget. Though the general survey of Singapore's economic progress was464 words
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Article388 1977-03-01 7 SELLERS dominated trading at the Kuala Lumpur stock market yesterday with resultant cut-back In prices. Losses, though only marginal In extent, were quite widespread. Most of the selling was said to have stemmed from weak holders mainly on stop-loss account. Operators were generally holding back in388 words
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Article158 1977-03-01 7 Reuter LONDON, Mon. Ford Motor, whose British subsidiary took the largest share of the British car market last month, was also the biggest Importer of cars Into Britain at the end of 1976, a report said today. The independent trade union research organisation calculatedReuter - 158 words
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Article25 1977-03-01 7 Reuter TOKYO, Thurs. Tokyo Kanetsu KK said its US$l5 million, five year, 7 3/4 per cent Eurobond issue was priced at par. Reuter.Reuter - 25 words
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1005 1977-03-01 7 John H. Allan - By John H. Allan NYT FOR the last four years, the fastest growing sector of the securities Industry has been the options market. Ever since the Chicago Board Options Exchange opened in April 1973, business has been expanding. The New York Stock Exchange IsNYT - 1,005 words
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OVERSEAS MARKETS
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Article527 1977-03-01 7 TOKYO: Share prices advanced for the sixth consecutive session, with selective demand sustained In anticipation of a further market upturn In March, dealers said on Monday. The Dow Jones average rose 10 47 to 5,079.11 with volume 200 million shares. The New Index was 382.78, up 0.36. Buying Interest527 words
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Article477 1977-03-01 7 HONGKONG: The market closed mixed to slightly firmer on Monday In moderate trading after a weak opening following a fall In Hongkong stocks quoted In London on Friday, dealers said. The Hang Seng Index rose 2.34 points to 427 76. Jardine Matheson rose 50 HK cents to last week's477 words
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Article169 1977-03-01 7 MANILA: Mining and commercials were slightly lower while oils rose In more active trading with a firm undertone, dealers said on Monday Gainers Included Acoje Mining, Atlas Con A and B, Benguet Con B. Phil Oversea*. Oriental A and Seafront. Unchanged issues included Baguio Gold. Marinduque B. .M era169 words
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Article86 1977-03-01 7 FEB 2K Bahts Asia Fibre 126 unch Bangkok Bank 255 -2 Bangkok Invest 158 -2 Bangkok-Metro-politan Bank Bata 379 unch Berll Jucker m -1 Charoong Thai Wire 164 -1 Dumex DusltThanl Faber Merlin First Trust 138S unch Indo-Thal J And J Ho IMS Jalaprathan Cement 83 -1 Karnasuta Lee86 words
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Article430 1977-03-01 7 SYDNEY: The market was generally lower, led by energy stocks, dealers said on Monday. The Sydney All-Ordlnarles index fell 1.10 points to 425 09. Pancontinental fell 22 cents to $8 50. QLD Mine* eight cents to $1 35 and Uuh 10 cents to $4.35. while Peko-Wallsend. Woodiide Burmah. Ampoiex430 words
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Article111 1977-03-01 7 Reuter OSAKA, Mon. Consolidated net profit at Matsushita Electric Industrial more than doubled to 65.67 billion yen from 31.69 billion yen in the year ended Nov 20. 1976. Net sales rose to 1.71 trillion yen from 1.39 trillion yen. Masushita said it alms to increase consolidated net incomeReuter - 111 words
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750 1977-03-01 7 JOHN H. ALLAN - By JOHN H. ALLAN NYT SO FAR this year the bond market has declined continuously, except for two weeks which were nothing to brag about. Prices of fixed-Income securities were unchanged during one of those two weeks and were up moderately during the weekNYT - 750 words
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1046 1977-03-01 7 LEONARD SILK - By LEONARD SILK NYT NOW that President Carter has laid out his fiscal policy for the coming two years, with the submission to Congress last week of his revisions of former President Ford's fiscal 1977 and 1978 budgets, the focus of anyNYT - 1,046 words
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Page 7 Advertisements
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Advertisement176 1977-03-01 7 Confront Singapore's decision makers in Business Tunes For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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COMMODITY REPORTS AND PRICES
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Article674 1977-03-01 8 DEALERS said the Singapore rubber market opening quotations yesterday were marked down by about one cent following easier overseas advices and thereafter fell further as March came under scattered selling In quiet and thin trading. Turnover was small. The morning session closed lower with March674 words
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Article32 1977-03-01 8 Rubber: Feb 28 Singapore: Mar. 196.50 cU (down 3.75 eta.) Malaysia: Mar. 201.25 eta (down 3.25 eta) Tin: 1,545.12W (down 87 Vi cents) Official offering: 261 tonnes (up 81 tonnes)32 words
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Article166 1977-03-01 8 THE Straits tin price In Penang yesterday was down 87cents to $1,545.12% on an official offering up 81 tonnes to 261 tonnes. In LONDON yesterday, tin gained £55 for Cash and £60 for Three Months in both contracts. The movement took Three Months standard to record traded high166 words
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Article109 1977-03-01 8 LONDON. Mon. Opening call levels on terminal sugar were up from Friday's close by £1.10 (nearly May at £128 seller) to £0.10 per tonne although fractionally below kerb levels. But the market was quiet reflecting lack of fresh feature, dealers said. 100 tonnes of Mauritius raw bulk sugar were109 words
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Article73 1977-03-01 8 WASHINGTON, Mon. The Carter Administration, is considering a proposal to raise the price of sugar with new domestic price supports and lower limits on Imports. The administration's pro- posal, designed to raise the price of raw sugar to between 13 and 14 cents for half a kilo73 words
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Article111 1977-03-01 8 Mar Apr R.A.S. (Current Mthl (Forward Mth) Buyer* Seller* Buyer* Seller* (cent* terkg) (cenu p< •r k*t SMR 5CV (1-ton Pallet) 187.00 180 OON 188.50 100 50N PMR 5L (1-ton Pallet) 184.50 188 50N 188.00 188 OON M.R E.I..B. SMR 5 CV (1-ton Pallet) 218.50 220 50N111 words
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Article221 1977-03-01 8 IN the Singapore gold market yesterday, the kllobar was traded In the range of 5i11,270 to 5511,320. The loco London gold opened at US$l4l.OO/ 141.40 and was strongly bldded up to US$l4l.BO/ 142.20 before easing towards the close at $141.40/ 141.80. The London morning fixwas U*****.25 up $2,325 on221 words
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Article113 1977-03-01 8 LONDON, Mon. Copper wlrebars rose £12.50 per tonne for cash and £13 for Three Months in the morning. The advance In the Ring was up to £886 per tonne but gains were par red by trade selling. Late covering, apparently on US account, developed on the late Kerb and113 words
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Article64 1977-03-01 8 LONDON, Mon. Sliver advanced by 5.7 to 6.5 pence per troy ounce In the mornlng. The movement reflected Friday's gains at New York with firmness In gold and other base metals today an additional boost to sentiment, dealers said. Covering and fresh buying took Three Months up to 285.464 words
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Article54 1977-03-01 8 LONDON, Mon. Lead rose by £11 all round In the morning. Fresh and chart buying was seen with a new record traded high of £439 per tonne for Three Months during first ring dealings. Some profit-taking emerged later and the advance was pared by £2 per tonne. Sales were54 words
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Article54 1977-03-01 8 LONDON, Mon. Zinc advanced by mostly £7 in the morning. Fresh buying gave the market a boost with a new high for the current movement of £448 per tonne set by Three Months In pre-rlng dealings. But profit-taking and hedge selling produced business back to £443 by te close.54 words
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Article21 1977-03-01 8 Feb Jan •Tin: +Rubber (S): +Rubber (M): $1,525,472 201.722c 206.559c $1,394,400 202.869c 208.583c per plcul cents per kilo21 words
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Article216 1977-03-01 8 BANGKOK, Mon. Indicative prices for rice were: US dollars per tonne for basis Bangkok White Rice 100 per cent Ist class 282 100 per cent 2nd 267 100 per cent 3rd 262 5 per cent 254 10 per cent 233 IS per cent 230 20 per cent 227 25216 words
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Article122 1977-03-01 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk 887 1 1 sellers, old drum $92'-i sellers, new drum 897 S sellers Copra: Mixed (loose) UK/Cont 857 buyers. Pepper Muntok ASTA white f ob 100% NLW 8355 sellers. Sarawak white fob 96% NLW 8335122 words
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853 1977-03-01 8 LONDON, Mon. British rice Importers are quietly tearing their hair out over the Common Agricultural Policy (CAP). They comElaln It is time the ureaucrats In Brussels took note not only of market forces but also of consumer tastes. At a853 words
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Article275 1977-03-01 8 LONDON, Mon. Robusta futures trading was quieter. The opening call ended about steady £47 higher to £12 per tonne lower compared to Friday's close. 488 lots were traded. May, after gaining £40 at an opening, closed the session £26 above last Friday at £3,756 having traded at a low275 words
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MONEY AND EXCHANGES
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Article506 1977-03-01 8 THE Singapore domestic money market saw sluggish trading yesterday despite a three-point rise In the overnight rate on a Liability Base day. Dealers reported a firm rise from the par opening In the overnight counter to a steady one per cent to v» per cent for the large part506 words
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Article175 1977-03-01 8 Asian rates ASIAN currency depoalt Interbank rales u at close on Feb 28 L8 Dollar* (Spot) Offer Bid 7 days 4 15/18 4 13/16 1 mth 4 15/16 4 13/16 2 mths 5 1/1 5 3 mths 5 1/4 5 1/8 8 mthi 5 3/4 5 5 8 9 mths175 words
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Article48 1977-03-01 8 RANGE of prices offered by discount houses on Feb 28 Overnight to 3% Call deposit 24 to 3* CIiiim Buy Selliu 3-Month Treasury bills 3 2 7/8 3-Month Banks bills 4 3 7/8 3-MonthsCD 4 3/16 4 8-Months CD 4 7/16 4 5/18 Source: National Discount Co.48 words
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Article172 1977-03-01 8 Euro rates LONDON, Mon. Eurodollar deposits opened steady apart from One Month, which was 1/4 easier because of the loss of a Friday end of period, dealers said. They noted a moderately slow start to trading although day to day rates showed a slightly wanted tendency mainly on Singapore account,172 words
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Article293 1977-03-01 8 LONDON, Mon. Early currency trading was quiet, with the market very thin as operators are pre-occupled with holding their positions steady over the month-end, dealers said. Banks were unwilling to quote a rate for the Portuguese escudo, devalued over the weekend by 15 per cent. Dealers said the exact293 words
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Article87 1977-03-01 8 HONGKONG, Mon. The US dollar closed at HK54.6430/50, fractionally below its $4.6440/60 Friday close, in very quiet endmonth trading, dealers said. The mark firmed to 2.3925/35 against the US dollar from 2.3987 at the New York close, while sterling was steady at 1.7087/97 throughout the day, little changed in87 words
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Article158 1977-03-01 8 TOKYO, Mon. The US dollar for overnight delivery closed at 283.25 yen little changed from 283.20 yen at last Friday's close, after opening -sharply lower at 281.95 yen, dealers said. The Initial decline reflected a rise In the value of the yen In overseas centres late last week and158 words
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Article53 1977-03-01 8 AUSTRALIA/NZ exchanges quoted on Feb 28 Australia: Sterling .6452/ 6382 US dollar 1.0991/1.0943 Ninety-day air mall buying rates: Sterling 0.6711 US dollars 1.1241 Ninety-day forward buy- ing rates: Sterling 0.6550 US dollars 1.0938 New Zealand: Sterling 0 5594/ 0.5564 US dollars 0.9608/ 0 9508 Ninety-day forward rate: Sterling 0.591853 words
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Article63 1977-03-01 8 Minimum lending rates (in ACBC 8*4 First Chicago 8*, Algemene Bank 6*. Citibank 6V. Bangkok Bank .7 HSBC 7 Bank of America 6* Indosuez 8% Bank of China ..7 Malayan Banking 6* Bank of Tokyo 6 V. Mitsui Bank 6V, Bank Negara ocbc 8V. Indonesia .7 OUB 6 V. Chartered63 words
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Article33 1977-03-01 8 FRANKFURT exchanges opening quotes on Feb 28 US 2.3925/40 2.3940/50) Can 2.2830/50 UK 4.090/105 Neth 95.87/96.02 Switz 93.85/94.00 Italy 2.705/720 France 47.97/48.12 Norw 45.36/44 Belg com 6.520/535 Belg fin 6.51/53 Japan 0.8450/6533 words
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Article236 1977-03-01 8 LONDON. Mon. Straight bonds were virtually unchanged in dull trading, dealers said. In the primary market, many bonds have still to be placed resulting in reduced trading in the secondary sector, where there is at present little incentive for price changes. These factors coupled with inflation fears In236 words
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Article80 1977-03-01 8 TEHERAN, Mon. Iran's foreign exchange reserves will increase by US$5OO million (Ssl.2 billion) to US$7.BO billion by the end of the Iranian financial year on March 20, the governor of the Central Bank of Iran Hassan Abl Mehran told Parliament. He said Oross National Product at80 words
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Article49 1977-03-01 8 KUALA LUMPUR, Mon. The average discount rate on 91-day Malaysian treasury bills fell to 3.104 per cent at the latest tender from 3.688 per cent last week Bank Neg&ra said. It said applications totalled M 5208.5 million for the Msso million of bills on offer.49 words
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Page 8 Advertisements
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Advertisement479 1977-03-01 8 THESE ARE THE BOOKS THAT HITLER BURNED l •L -V-B ifc »*Tlr w l»^iC w k L i L- L 4 4 ,f 'Mil 1 1 *n 5 S isi^r 5 V«??ff I'iH 2 VnT r. as ss *"i«s »5 .if^r nte« 1 °£f Tlri THE GREAT BOOKS OF WESTERN479 words
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TRANSPORT AND COMMUNICATIONS
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404 1977-03-01 9 JAMES OUTMAN - By JAMES OUTMAN Reuter WITHIN the next few days, a jroup of strangers will gather at an airline terminal here for a flight to London. Nothing unusual about that. What makes the flight different Is that each will be payingReuter - 404 words
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Article, Illustration876 1977-03-01 9 ANDREW MALCOLM - By ANDREW MALCOLM NYT A JAPANESE businessman was enroute to an important appointment near here the other day when his car became mired In one of Japan's many Inscrutable traffic Jams. Minute after minute ticked by as the massed motor vehicles satNYT - 876 words
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Article445 1977-03-01 9 EDMUND PINTO - By EDMUND PINTO AP US SENATOR Daniel Inouye says "the Insidious rebate situation" threatens the very survival of an American merchant marine. Mr. Inouye, In remarks Inserted In the Congressional Record, said on becoming chairman of the Senate Subcommittee on Merchant Marine and tourism thatAP - 445 words
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337 1977-03-01 9 THE Far Eastern Freight Conference (FEFC) will reduce the Suez Canal surcharge from 4.75 per cent to two per cent from today. From the second half of December 1976 until about the end of March this year, shipping lines are engaged In337 words
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Article45 1977-03-01 9 VOSPER THORNYCROFT recently received another order for fast patrol boats from the Singapore Marine Police. This $500,000 contract consists of 20 boats made by heavy duty fibreglass. The 6.5 metre boats will be delivered through this year and early next year.45 words
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Article, Illustration391 1977-03-01 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Achllle Lauro (0530) 46/47 Barge Sin Lian Huat 3 (1500) 6/7 Bakurianl (1530 tide after NehaJ) 18 Bunara Gelang (2300) 19 Cherry Blossom II (B. Barge) (after SBS 111 sails) 48 Dong Moon (6MRA) (0700) 22 Ocean Endurance (SLTO) (after Centaur) 42/43 SBS391 words
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Article563 1977-03-01 9 ARRIVALS Service Local Operator Number Time From CAL TMA CI331 TL303B 0040 0215 TPE/HKG/KUL BEY/DXB/BOM/ KUI. MAS JAL SIA OIA OIA SAS MH682 JL712 SQ211 GA980 OA 908 SK971 0810 1000 1010 1030 1100 1130 KCH HLP HLP HLP MES CPH/BKK RBA SIA SIA MAS OIA OIA563 words
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Article153 1977-03-01 9 THE five-day Seatec 77 seminar and exhibition will be opened today by the Senior Minister of State for Communications. Mr. Ong Teng Cheong. The theme for the seminar and exhibition, organised by Dredging and Port Construction magazine. is "the dredging and construction of ports for developing countries".153 words
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Article90 1977-03-01 9 UPI ROTTERDAM. Mon. Rotterdam The world's largest port and its sister port of Amsterdam were back in full swing today following the settlement of a three-week-long dockers strike, port officials said. Union leaders called on dockers to return to the Job following agreement reached withUPI - 90 words
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Page 9 Advertisements
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Advertisement197 1977-03-01 9 Have you ijot your copy of the ID/6 77 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INDEX OFFICIALS AND PUBLIC BODIES INFORMATION 0 IWHTW m N-Zi 'ST The Straits Times DIRECTORY OF SINGAPORE A GSOU" It's the 1976/77 "Red Book" the office/library reference book covering the197 words
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Article, Illustration578 1977-03-01 10 LEIGH MocKAY - ON SUNDAY, Mr. Lee Kuan Yew officially opened the $55 million Upper Pierce Reservoir. Despite being a small island with a large rainfall, adequate water supply has always been a problem, though not, of course, a problem on theReuter - 578 words
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Article, Illustration1388 1977-03-01 10 PHIL BROWN - By PHIL BROWN AP AS TAIWAN'S booming economy propels It towards the ranks of the developed nations, one looming problem Is that It will have to compete directly with the developed world's old hands. "They're going to have to get lean and meanAP - 1,388 words
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1989 1977-03-01 10 BARRY JAMES - By BARRY JAMES UPI SELOOM has there been so much talk about the value of trans-Atlantic partnership. With new administrations settling down both In Washington and at the headquarters of the European Economic Community in Brussels,UPI - 1,989 words
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Page 10 Advertisements
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Advertisement320 1977-03-01 10 NEW DIRECTIONS The magazine that actually says what you have been thinking all along. New Directions quarterly was born in late 1973 and has since then quietly set about its task to enhance the intellectual climate in Singapore, to stimulate the spirit of debate and to cast light on major320 words
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Page 11 Advertisements
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Advertisement664 1977-03-01 11 APPOINTMENTS a EXECUTIVE (Supply Planning Department) We are looking for a young executive to fill a challenging position in our Supply Planning Department. Responsibility After an appropriate period of training, the successful candidate will be required to assist in the economic evaluation and subsequent monitoring of various aspects oftoil operations664 words
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Page 11 Miscellaneous
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Miscellaneous264 1977-03-01 11 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Classic Keystone Comedy Capers Dough and Dynamite 3.25 Diary of Events (English) 3.30 Magazine Zero One (r)* 3.45 General Hospital 4.25 Intermission 6.05 Opening Announcements followed by The Swiss Family Robinson "Rogue"* 6.30 News in Brief 6.35 Cartoon Favourites* The264 words
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Miscellaneous54 1977-03-01 11 WEATHER report for 24 hours prior to 7.30 p.m. on Feb 28 at Singapore airport. Maximum temperature 30.3° C Associated humidity 71 Minimum temperature 22.1° C Associated humidity 100 Hours of sunshine 1.60 Rainfall in millimetres 1.6 Total rainfall for the month 196.0 Total rainy days for the month 1654 words
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250 1977-03-01 12 A SINGAPORE-based reInsurance organisation, London Guarantee and ReInsurance, better known as "LG Re, has entered the Hongkong market to tap the reinsurance potential of the British colony. Said Mr. A.A. Peerbhoy, LG's regional manager for the East: "This could be a first for Singapore In250 words
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Article228 1977-03-01 12 FIRST Chicago Asia Merchant Bank (FCAMB) of Singapore Is to lead manage a U*****.9 million (*****.6 million) syndicated loan to Korea Electric Company, It was announced over the weekend in London. First Chicago, the First National Bank of Chicago's merchant banking arm, announced that228 words
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202 1977-03-01 12 BANGKOK, Mon. The Asia-Pacific Council of the l American Chambers of < Commerce (APCAC) today urged the US Congress to allow the development of relations between the United States and the communist Indochina nations. "APCAC anticipates that prompt Congressional action will allow for an202 words
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Article750 1977-03-01 12 LONDON, Mon. The market moved higher today In light to moderate trading and at 3 pm, the Financial Times Index was up 9.4 at 411.1. Buying Interest was prompted by hopes of tax concessions In next month's budget proposals which In turn may help extend government's pay restraint.750 words
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Article186 1977-03-01 12 FOUR years after Saber Air, the 80 per cent govern-ment-owned passenger charter airline, was put into liquidation in 1973, the winding-up has still to be finalised. According to the AuditorGeneral's report the Government's investment in the company amounting to $2.4 million has still to186 words
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Article170 1977-03-01 12 BANKAMERICARD, which has adopted a sing.'? new name, VISA, will not complete the replacement of its cards In Singapore until October 1979. Until then, the old cards will continue to be issued and will remain valid. Bank of America's credit card subsidiary currently170 words
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Article69 1977-03-01 12 A LOCAL construction company, Loke Hong Lee, filed a suit at the High Court yesterday against one of Its directors, Mr. Raymond Loke for $66,662.94, being money allegedly advanced to him by the firm. Loke Hong Kee Is represented by J.B. Jeyaretnam and Company. A $106,356.9269 words
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Article42 1977-03-01 12 The Port of Singapore Authority yesterday began of clearing abandoned wrecks of more than 60 sunken lighters In the Singapore River. The Kallang, Serangoon, Geylang and Rochore rivers are also to be cleared In the PSA "cleaning up" campaign.42 words
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Article67 1977-03-01 12 UPI SEOUL, Mon. Economic officials of Britain and South Korea opened a fiveday meeting in Seoul today aimed at seeking mutual economic co-operation between the two countries. Representing Britain at the meeting was a fivemember delegation headed by Mr. R. T. Kemp, UnderSecretary of the Export Credit GuaranteeUPI - 67 words
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Article449 1977-03-01 12 THE Direct Selling Association of Singapore (DBAS) last night pledged to work closely with the Consumer Association of Singapore (CASE> to remove any form of practice that is unfair or prejudicial to the Interests of the consumer. Speaking at the DSAS Inauguration night, Mr. Thomas Heng,449 words
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749 1977-03-01 12 ASEAN PACT GIVES HOPE FOR... LAST week's Asean accord on preferential tariffs may provide Just the Impetus to get the multl-mllllon Sumitomo Petrochemical complex moving more rapidly. With the accord comes the hope that tariffs on Imports of the products of the project Into749 words
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410 1977-03-01 12 AP LONDON, Mon. Union, government and management officials sought to solve a crisis at British Leyland today, the country's biggest car company, hit by a wildcat strike that typifies many of Britain's social problems. The week-old strike has thrown 30,000 men out ofAP - 410 words
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322 1977-03-01 12 Reuter LONDON, Mon. The British Government said today that Its frontline forces In Europe would be shielded as far as possible from the effects of defence economies. "We are trimming the tall and not the teeth," said Defence Secretary Fred Mulley atReuter - 322 words
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Article260 1977-03-01 12 Reuter KHARTOUM, Mon. Egypt, Syria and Sudan today created a unified political command embracing all three countries, Syrian President Hafez Al-Assad announced here. President Assad, who is attending a summit conference with the leaders of Egypt and Sudan, said he hoped the command would become the nucleus forReuter - 260 words
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Article34 1977-03-01 12 AP DACCA, Mon. Major General Zlaur Rahman, Bangladesh Chief Martial Law Administrator and army Chief of Staff, will pay a four-day visit to Iran beginning March 7, It was announced yesterday.— AP.AP - 34 words
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187 1977-03-01 12 AP VIENNA, Mon. Finance Ministers from the Organisation of Petroleum Exporting Countries began today, two days of discussions on the proposed USSBOO million (Ss2 billion) fund for developing countries. The former Imperial Palace In downtown Vienna, where the talks were held, was underAP - 187 words
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104 1977-03-01 12 SEASERVICES Pte. Ltd.. a local shipyard, will move into Promet Shipyard's head office in Jurong and use the yard there for repairing small coastal vessels for shipowners in this region. The Pioneer Road site changed hands for an undisclosed sum last week, at an104 words
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Article72 1977-03-01 12 A DECISION by the management committee of the Singapore Chinese Chamber of Commerce yesterday, to Increase Its admission and subscription fees, will add more than 530.000 to the chamber's coffers annually. This, however, will have to be approved at a general meeting which will be held72 words
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Article69 1977-03-01 12 Reuter TEHRAN, Mon. A centre for Improving the life of women In Asia and the Pacific region was opened here yesterday by a sister of the Shah of Iran, Princess Ashraf. Australian Elizabeth Reld. an adviser on women's affairs to former Prime Minister Cough Whitlam, will beReuter - 69 words
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Article143 1977-03-01 12 THE talks on the air services agreement between Singapore and the US began yesterday behind closed doors. The American team Is led by Mr. Robert A. Brown, chief of Aviation Negotiations In the US State Department. He will be assisted by Mr. James S. Horneman,143 words
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Article79 1977-03-01 12 KUALA LUMPUR, Mon. Datuk Hussein Onn will make an unofficial visit to Thailand from March 4 to 6 at the Invitation of the Thai Premier Mr. Thanln Kralvlchlen. Datuk Hussein will be accompanied by his wife Datln Suhalla, Foreign Minister Tengku Ahmad Rlthauddeen and his wife,79 words
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Article88 1977-03-01 12 AP MANILA, Mon. Talks are now in progress between the Philippines and the Soviet Union on the establishment of their respective embassies in Manila and Moscow, the newspaper Times Journal reported today. There was no Immediate Government confirmation of the report. The Journal, controlled by Philippine ambassadorAP - 88 words
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Article218 1977-03-01 12 GUARANTEES granted by the Government under the Loans (International Banks) Act up till the end of March last year amounted to about $1 billion, according to the AuditorGeneral's report. Of this amount, 80 per cent is denominated In US dollars, 16 per cent in local dollars218 words
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318 1977-03-01 12 KUALA LUMPUR. Mon. MAS is to extend Its domestic services to new destinations this year despite Its austerity drive launched recently, Communications Minister Tan Sri V. Manlckavasagam said here today. He said airstrips would be completed In Sltiawan, Talping, Dungun, Merslng, Segamat318 words
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332 1977-03-01 12 KUALA LUMPUR, Mon. Attorney General, Tan Sri Abdul Kadlr Yusof, has appealed against the sentence Imposed by the High Court here last month on former Bank Rakyat chairman, Datuk Hajl Harun Idris, on the ground that it was inadequate. He has also appealed332 words
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