The Business Times, 4 March 1977
1977-03-04
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The Business Times
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Title Section9 1977-03-04 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, MARCH 4, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article60 1977-03-04 1 Reuter BANGKOK, Thurs Singapore's Deputy Prime Minister and Defence Minister, Dr. Goh Keng Swee.made a brief unannounced visit to Bangkok yesterday and held talks with Prime Minister Thanin Kralvlchlen, a government spokesman said today. The spokesman said the two discussed "cooperation In various projects between the twoReuter - 60 words
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Article107 1977-03-04 1 AP NEW YORK, Thurs. US Federal officials suspect General Motors has purposely understated Its Income and taxes over the past several years, possibly cheating the Government out of hundreds of millions of dollars, the Wall Street Journal said yesterday. The Journal, In a story from Detroit, saidAP - 107 words
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Article52 1977-03-04 1 Reuter MANILA, Thurs. Peace talks between the Philippine Government and Muslim rebels have been recessed for two days after running into serious problems, President Marcos said today. The Presidential Palace said the current talks in Tripoli, Libya, had not made any substantial progress. The talks will resumeReuter - 52 words
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Article61 1977-03-04 1 UPI BANGKOK, Thurs. Communist guerillas and crack Thai combat police battled in Jungles Just 50 km from the site of the King's summer palace, field reports said yesterday. Reports said a large communist force had killed at least four police and wounded six others by noon, withUPI - 61 words
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Article25 1977-03-04 1 VIENNAf the'-world's major oil exporters today announced they were allocating U*****.3 million (Ss3so million) to help finance industrial projects to 38 developing countries.25 words
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Article68 1977-03-04 1 Reuter CAIRO. Thurs Foreign ministers from more than 60 African and Arab countries open a threeday meeting here today to prepare for an AfroArab summit next week that is designed to build a powerful Third World alliance of oil and raw material exporters. The ministers will work outReuter - 68 words
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Article47 1977-03-04 1 SINGAPORE'S population Increased by 30,600 or 1.4 per cent last year. Of these, 15,600 were females and 15,000 males. There were 42,230 live-births last year, of which 20,627 were males and 19,320 females. Deaths totalled 11,647 of which 6,889 were males and 4,757 females.47 words
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Article42 1977-03-04 1 UPI NEW YORK, Thurs. Dow Jones averages, based on first hour of trading on the New York Stock Exchange: 30 Indus 942.90, up 0.83; 20 transp 223.75, up 0.34; 15 utlls 106.37, up 0.25; 65 stocks 308.24, up 0.40. UPIUPI - 42 words
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Chief Price Changes
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Article, Illustration161 1977-03-04 1 THE Stock Exchange of Singapore fell deeper into the doldrums in low-volume trading yesterday. The option board also saw little interest. The Business Times index fell 1.10 points to 260.33 while the Straits Times industrial index was practically unchanged at 252.35. Falls Most active Petaling 460 -8161 words
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Article106 1977-03-04 1 Falls Most active Talplng Con M. Banking $2.00 -.10 Central Sugars 148,000 $0.15 -.05 Haw Par 102,000 Qentlngs Hume (FT) $3.42 $1.56 -.04 -.04 Oentlng Hlglands Alrom 89,000 40 000 U.A.C. W Jacks M. Credit Essoord. Malaya wata Pacific Dev 8.Trading E.N.E. M.Cables Malex Wearnes $3.40 $1.23106 words
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1578 1977-03-04 1 COLIN CHEE - BIDS AS HIGH AS US$l4B AN OUNCE By COLIN CHEE THE gold price burst right through current market levels at Wednesday's International Monetary Fund auction in Washington. The average price quoted was U*****.51 an ounce and the successful bids ranged from U*****.55 to as1,578 words
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Article621 1977-03-04 1 THE Far East Freight Conference (FEFC) Is seeking a general rate Increase of 13.75 per cent to come Into effect on July 1.. A statement to this effect was Issued last night by the FEFC after Its team led by Mr Keith Reynolds (a621 words
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226 1977-03-04 1 THE Private Investment Corporation for Asia (Pica) is currently evaluating the possibility of starting a development finance company to provide loans for small industries as a complement to the Government's small industries scheme. This was revealed by Pica's newly-appointed president Mr Kerry226 words
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Article319 1977-03-04 1 TOKYO, Thurs. Japanese and Chinese trade officials agreed today they shouldn't be discouraged by the current slowdown in their bilateral trade. Japanese delegates to the meeting of the Japan-China joint committee on trade noted that bilateral trade grew smoothly following the establishment of diplomatic relations between the countries319 words
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360 1977-03-04 1 S'PORE SLIPS AGAINST YEN, DOLLAR THE Singapore dollar weakened slightly against the US dollar in the second half of January and the first half of February. It also weakened against the Japanese yen during the same period. This was revealed in the Monetary Authority of Singapore's statistical release for February.360 words
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240 1977-03-04 1 Reuter MANILA, Thurs. At least 12 foreign banks have submitted applications to set up offshore banking operations In Manila, Central Bank sources said today. They named the banks as Manufacturers Hanover Trust, United California Bank, American Express International Banking. Chase Manhattan (American), Barclays GroupReuter - 240 words
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185 1977-03-04 1 INDIVIDUALS who take part In strikes or incite others to do so when such Industrial action has not been approved by union members via a secret ballot, are liable to be fined under an amendment to the Trade Unions Act. The law as it185 words
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Article186 1977-03-04 1 Reuter MANILA, Thurs. The Asian Development Bank (ADB) today announced a reduction of its Interest rate on loans from 8.90 per cent to 8.70 per cent per annum. The new lending rate will apply to ordinary loans approved after Jan 1 this year, it said. For theReuter - 186 words
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Page 1 Advertisements
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Advertisement42 1977-03-04 1 Get advanced copying technology. SEE PAGE 10 INSIDE OWHUMWTVI Radio Oversees mwi/ feature* Local Co news International Co news Local stocks Overseas stocks P7 PS Commodities P8 Transport A ComPS munications PI P4 Features PlO PS Local A Overseas P® news Pll42 words
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Advertisement137 1977-03-04 1 THE SMOOTH SIMPLE STYLE OF I You have to drive the 504 to appreciate its excellent performance and high standard of engineering. Its pick-up, power, road-holding, braking and reliability. Its economical 1971 cc petrol engine, giving minimum consumption for maximum efficiency. The endurance of its oversquare 4-cylinder inline engine over137 words
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Advertisement7 1977-03-04 1 *****3. *****5 a .Lumpur *****0. *****6 ***** ~;_^&$`!^_@.~[?<<*(?>^=(_*_~|\?7 words
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OVERSEAS
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Article, Illustration500 1977-03-04 2 BANKS' FUNCTION NON-POLITICAL AP WASHINGTON, Thurs. US Treasury Secretary Michael Blumenthal said yesterday the United States should not withhold contributions to International lending institutions even though some of the recipient nations violate human rights. Acknowledging that It was "a delicate and difficult"AP - 500 words
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Article294 1977-03-04 2 Reuter LONDON, Thurs. Britain's foreign exchange reserves rose US$59l million (S$ 1,450 million) in February to $7,787 million, the Treasury announced, Including a $250 million drawing on Britain's $1.5 billion Eurocurrency facility and a net $10 million of borrowing by the National Water Council. With theReuter - 294 words
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181 1977-03-04 2 Reuter MOSCOW, Thurs. Japan and the Soviet Union were yesterday apparently deadlocked over how to word a joint communique on their talks about the new Soviet 320-km Pacific and Arctic fishing zone, Japanese sources said here. The sources said that Soviet Fisheries Minister Alexandra IshkovReuter - 181 words
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Article40 1977-03-04 2 Reuter COPENHAGEN, Thurs. Denmark's Central Bank today announced a one-per-cent drop in the country's bank rate to nine per cent, effective today. The last change, also a one per cent cut, occurred last Dec 6. ReuterReuter - 40 words
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395 1977-03-04 2 AP WARWICK, Thurs. Foreign compliance with the United States' extended fishing limit is exceeding expectations, a spokesman for the US Government said yesterday. Mr. Milan Kravanja, a specialist with the US Commerce Department, said foreign vessels have either left the protectedAP - 395 words
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Article293 1977-03-04 2 Reuter LE HAVRE, Thurs. French union action In protest at the storming of the British-registered tanker Globtik Venus to break a strike may strand the ship for several days. French dockers, whose unions angrily condemned as piracy the boarding of the ship which 28Reuter - 293 words
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Article209 1977-03-04 2 UPI SEOUL, Thurs. Britain and South Korea ended a three-day economic meeting In Seoul yesterday, with Britain promising to give favourable consideration to a massive Korean loan request, government officials said today. South Korea, the officials said, asked Britain to provide US$365 million (SsB94UPI - 209 words
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202 1977-03-04 2 UPI NEW YORK. Thurs. The contention of several member* of a Senate Subcommittee that breaking up integrated oil companies would weaken the position of the Arab oil cartel has no basis in fact, petroleum expert Dr. John Lichtblau said vetterday. In a reportUPI - 202 words
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176 1977-03-04 2 UPI ATHENS, Thurs. Premier Constantlne Caramanlls will visit four European countries next month to discuss Greece's entry into the European Economic Community and other bilateral questions, a government source said. The Premier's tour will open with a two-day visit to Switzerland onUPI - 176 words
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Article50 1977-03-04 2 Reuter ROME, Thurs. Italy's trade deficit last year Increased by 3.1 trillion lire to 5.4 trillion, according to final trade figures from the Statistics Department. Exports in 1976 rose by 35 per cent to 30.9 trillion lire, while imports rose 44 per cent to 36.3 trillion lire.Reuter - 50 words
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505 1977-03-04 2 Reuter BRISBANE, Thurs. The current talks between Australia and Japan over the long term sugar contract differ Importantly In several respects from normal commercial negotiations, CSR deputy general manager Jock Campbell told the Queensland Cane Growers Council annual meeting. The key issues are notReuter - 505 words
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487 1977-03-04 2 Reuter KARACHI, Thurs. Prime Minister Zulflkar All Bhutto led a huge procession here yesterday In a bid to show that he could draw a bigger crowd than his selection rivals. Officials of Mr. Bhutto's Pakistan Peoples Party (PPP) estimated that at leastReuter - 487 words
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309 1977-03-04 2 Reuter SEBHA (Libya), Thurs. Libya last night dissolved the country's top ruling body, The Revolutionary Command Council, and announced it had placed power in the hands of the people, the Arab revolution News Agency (Arna) reported At the General People's CongressReuter - 309 words
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Article149 1977-03-04 2 UPI ISLAMABAD, Thurs. Officials yesterday said Pakistan and neighbouring Afghanistan have reached an agreement on the restoration of air links which were disrupted in 1974. They said the agreement was reached in Kabul, the capital of Afghanistan, between representatives of Pakistan International Airlines (PIA) andUPI - 149 words
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Article69 1977-03-04 2 Reuter LONDON, Thurs. The UK Government ruled out any Increase in public expenditure in order to help the UK construction industry, Environment Secretary Peter Shore «ald in a paper published yesterday. The paper came in responsf. to ajeport from the NatloTiar Economic Development Council .detailing theReuter - 69 words
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149 1977-03-04 2 Reuter LONDON. Thurs. Prime Minister James Callaghan will show off the supertonic Concorde by flying in rt ~K) Washington for his talks with President Carter next week, British officials said yesterday. Mr. Callaghan is due to go to the American capital onReuter - 149 words
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138 1977-03-04 2 UPI TOKYO, Thurs. Cutbacks In Japanese steel production so far have failed to bring about the desired decline In Inventories, steel Industry sources said yesterday. The Kozal Club, an orga>nlsation of steel makers md wholesalers, said ventory of steel products at the endUPI - 138 words
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320 1977-03-04 3 Major central banks dealt in $51 bil in 3 months Reuter NEW YORK, Thurs. Major central banks bought or sold US$2l billion (5551.45 billion) worth of currencies on foreign exchange markets between last Nov 1 and Jan 31, the New York Federal Reserve Bank said yesterday. The figure Indicated theReuter - 320 words
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192 1977-03-04 3 Reuter NEW YORK, Thurs. Major US copper producers said they are studying the two different price increases instituted today on copper cathodes. Both Asarco Inc. And Inspiration Consolidated Copper Co. yesterday An-nounced-cathode' pirlfces rises of Iwocents to "TO cents Bo pound/- butReuter - 192 words
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Article148 1977-03-04 3 FRANKFURT, Thurs. Lufthansa German airlines' traffic results for 1976 show Increases In all figures, with demand growing faster than capacity. Of the 4,421 million ton kilometers offered, 2,560 million were sold, plus 11.2 per cent. The load factor for the year reached 58 per cent, one148 words
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101 1977-03-04 3 Reuter LONDON, Thurs. Britain's strike record, which in 1976 was the best for a decade, seems set for a relapse this year, according to government figures published here yesterday. Last January's figures show a significant increase over those for January 1976 with 199 stoppages resultingReuter - 101 words
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573 1977-03-04 3 WASHINGTON, Thurtday UPI THE Securities and Exchange Commission is investigating Boeing Co. for alleged payoffs to officials in the governments of Canada, Portugal, Egypt and Venezuela and 48 international airlines. Court records made public yesterday specifically identified purchase agreements between Boeing and theUPI - 573 words
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259 1977-03-04 3 Reuter fchuiC Bank of J siXMt-governor Tellchlro Morlnaga said Japan's trade surplus for fiscal 1976 ending on March 31 Is likely to exceed the US$9.9 billion (5524.25 billion) for calendar 1976 because of Improved export performance since January. He told a news conferenceReuter - 259 words
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Article30 1977-03-04 3 LONDON, Thurs. UK Industry Secretary Eric Varley told Parliament the government will exclude the 12 ship repairing companies from Its planned nationalisation of the aircraft and shipbuilding industries.30 words
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Article200 1977-03-04 3 UPI WASHINGTON, Thurs. The House of Representatives International Relations Committee approved legislation yesterday that would halt all US chrome Imports from Rhodesia. The legislation now goes to the full House with the committee's recommendation it be approved. The action came a week after UNUPI - 200 words
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Article339 1977-03-04 3 Reuter PARIS, Thurs. The Netherlands' real Gross Domestic Product (GDP) will probably grow by three to 3.5 per cent In 1977, similar to last year's rise but less than the 4.1 per cent gain predicted in latest Dutch official forecasts, the Organisation for Economic Cooperation and DevelopmentReuter - 339 words
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Article201 1977-03-04 3 Reuter PARIS, Thurs. Prime Minister Raymond Barre told EEC Commission President Roy Jenkins France intends to rejoin the Joint European float when it can, but not before the government's current counterinflation plan has produced its results, government sources said. They said Mr. Barre told Mr.Reuter - 201 words
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Article81 1977-03-04 3 UPI NEW YORK, Thurs. Imports of both crude oil and product, or refined, oil hit a record weekly high of over 10 million barrels a day In the week ended Feb 25, according to statistics released yesterday by the American Institute. Crude Imports of 6.9UPI - 81 words
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861 1977-03-04 3 DAVID LASCELLES - By DAVID LASCELLES THE New Year began badly for consumers In the Soviet bloc. The Russians announced Immediate Increases In the price of various household goods and gave notice of a doubling of taxi fares and a steep Increase in air and861 words
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344 1977-03-04 3 AP WASHINGTON, Thurs. After months of negotiations, the State Department has obtained formal agreements with foreign countries to hold 1977 US meat imports below a level which would trigger stiff quotas. The Agriculture Department, which helps keep track of the meat import programme, saidAP - 344 words
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460 1977-03-04 3 AP NICOSIA, Thurs. Winter storms In the United States and the Arabian Desert are helping prolong a 10-week-old price war In the world oil cartel. The United Arab Eml- rates Oil Minister, Dr. Mana Saeed Otelba, has called for a summit conferenceAP - 460 words
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229 1977-03-04 3 Reuter TOKYO, Thurs. The Japanese electronic industry is worried about the US moves to control imports of Japanese colour television sets, a spokesman for the Japan Electronic Industry Association said. He said the US International Trade Commission (ITC) is expected to rule nextReuter - 229 words
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Article150 1977-03-04 3 Reuter LONDON, Thurs. Britain's National Union of Mineworkers voted to accept a pay increase of five per cent under the terms of the current second year of the Social Contract, a union spokesman said. The Union's national negotiating team decided that miners haveReuter - 150 words
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Page 2 Advertisements
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Advertisement236 1977-03-04 2 WE'VE MOVED From today, we're on the ground floor of 201 Clemenceau Avenue, Singapore 9. (previously occupied by the Australian High Commission). Drop in and see our spacious new offices where we'll continue to serve you better. Or call *****55 SINTAT Rent-a-Car >58 fLI 'N? S* f I V Pi236 words
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Page 2 Miscellaneous
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Miscellaneous49 1977-03-04 2 WEATHER report for 24 boura prior to 7.30 p.m. on March 3 at Singapore airport. Maximum temperature 31.1° C Associated humidity 60 Minimum temperature 22.2° C Associated humidity 98 Hours of sunshine 10.75 in millimetres nil Total rainfall for the month 12.2 Total rainy days for the month 249 words
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Miscellaneous294 1977-03-04 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Housewives' Matinee "Scholar With A Halo" Chapter 2 (r) Pt. 2 of a Teochew Film 4.10 Diary of Events (Chinese) 4.15 Beyond Today (Last episode) (r) 4.40 Intermission 6.05 Opening Announcements followed by Exercise with Gloria 6.30 News in Brief294 words
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Page 3 Advertisements
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Advertisement243 1977-03-04 3 Americaya lOKYO MNGAPoKf Remarkable handcrafted shoes A legacy from Signor Marelli Exclusive to Americaya Very many years ago, in Italy, there existed an exceptionally skillful bespoke bootmaker one Signor Marelli. Signor Marelli's skill in fashioning and working leather earned him a widespread reputation and guaranteed him a steady clientele. The243 words
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COMPANY NEWS
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655 1977-03-04 4 TRUE to Its forecast, Tasek Cement has more than doubled Its pre-tax profit to M 57.35 million from $3.58 million In the first six months ended Dec 31, 1976. With the strong Interim performance It has resumed dividend payment after a lapse of655 words
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Article242 1977-03-04 4 Current Ex Date Total for Total for payment Date payable the year previous year M. Tobacco 35% Feb 7 MarlS 50% 40% Wilkin ton Process 15% Mar 7 Mar 24 20% 39.1%a Idria Hyd 30%I Mar 25 60%I 71.5% Tanjong Tin 13.3%1 Mar 25 26.7%I 30.9% Ayer Molek242 words
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148 1977-03-04 4 BOUSTEAD Engineering, a subsidiary of Bousteadco Singapore, has been awarded a contract to build and install a 200-metre long conveyor system in a new potash warehouse at Jurong port. The $400,000 belt conveyor and tripper will have a rated capacity of 650 tons of bulk potash148 words
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COMPANY MEETINGS
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24 1977-03-04 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 1977-03-04 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 1977-03-04 4 Mar 9, 12 noon, Registered Office, 3 m.s., Jalan Kluang, Batu Pahat, Johore.18 words
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Article12 1977-03-04 4 Mar 15, 2.30 p.m., 70 Jalan Ampang, Kuala Lumpur.12 words
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Article16 1977-03-04 4 Mar 17, 11 a.m., Registered Office, 178-3 Jalan- Sungel Besl, Kuala Lumpur.16 words
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Article16 1977-03-04 4 Mar 21, 10 a m, 13th Floor, Tunas Building, Anson Road, Singapore 2.16 words
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Article20 1977-03-04 4 Mar 25, 10.30 a.m., Registered Office, 12th Floor, Fltzpatrlck's Building, 86 Jalan Raja Chulan, Kuala Lumpur.20 words
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Article16 1977-03-04 4 Mar 25, 12 j i a noon, Registered Offlc#, 14 Lokyang Way. Singapore 22.16 words
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Article17 1977-03-04 4 Mar 29, Registered Office, Road No. 7, Port of Singapore Authority, Singapore 4.17 words
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Article17 1977-03-04 4 Mar 30, 12 noon, 11th Floor, Shlng Kwang House, Shenton Way, Singapore 1.17 words
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22 1977-03-04 4 Mar 31, 12 noon, Registered Office, No. 22 (Upper floor of No. 20) Jalan Gelanggang, Malacca.22 words
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Article19 1977-03-04 4 Mar 31, 12 noon, Studio I, sth Floor, Kuala Lumpur Hilton, Jalan Sultan Ismail, Kuala Lumpur.19 words
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Article318 1977-03-04 4 ON a continuing improvement in demand for Its products, Synthetic Resins (Malaysia) has managed to turn In a small profit In the first six months of the current year ending June 30, 1977. Pre-tax profit of M 5149,069 represents a creditable turn round from the previous318 words
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Article81 1977-03-04 4 FFB Oil Kernel Tout Ton* Tom Austral Enterprise 410.00 96.00 Ayer Molek Rubber 75.22 Benta Plantations 3,894.00 779.00 156.00 Buklt Katll Rubber 232.32 Castlefleld 80.81 16.15 Consolidated 6,220.00 1,244.00 Plantations 31,102.00 Dun lop Estates 1,812.00 395.00 Golden Hope 3,086.15 680.10 Guthrie Ropel 1,207.00 333.00 Inch81 words
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Latest results
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Article65 1977-03-04 4 HUME INDUSTRIES (MALAYSIA) Unaudited group pre-tax profit M 5857,633 ($2.57 million) on gross sales $40.65 million ($28.83 million) for the first six months ended Dec 31, 1976. Tax $612,254 ($1.25 million) leaving after-tax profit $245,379 ($1.32 million). Attributable net profit $506,132 ($1.32 million) after loss attributable to minority Interest65 words
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Article49 1977-03-04 4 MING COURT HOTEL Pre-tax profit $1.26 million ($375,657) for the year ended Sept 30, 1976. Tax $526,000 (credit $348,332) and extraordinary gain $45,558 (loss $43,058) leaving net profit $778,922 ($680,931). Accumulated loss brought forward $1.15 million ($1.83 million) making accumulated loss carried forward $370,978 ($1.15 million). T49 words
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Article40 1977-03-04 4 Southern Klnta Consolidated and Kamuntlng Tin dredging both announced lntenm dividends of 2.5p each for the yew ending March 31, 1977, and payable April 22. Southern Kinta's dividend was unchanged while Kamuntlng did not pay a 1976 Interim.40 words
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Article32 1977-03-04 4 NEW Straits Times has promoted Enclk Zakuan bin Mohamed Arlff, 38, to the post of deputy managing director, and not managing director as incorrectly stated tn yesterday's People In Business column.32 words
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Article65 1977-03-04 4 KUALA Sldlm Rubber said acceptances received In respect of its offer for Bekoh Holdings total 1.11 million shares. KSR held 2.27 million shares prior to the offer and now controls 96.9 per cent of Bekoh. KSR intends to compulsorlly acquire the balance of 109,875 snares. The offer65 words
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618 1977-03-04 4 Washington Star WASHINGTON, Thurs. The US circuit court of appeals here has overturned a Federal Communications Commission regulation that permits most existing broadcast-newspaper combinations to continue In operation. If the ruling is upheld, the Commission might have to require existing broadcastnewspaper combinations InWashington Star - 618 words
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503 1977-03-04 4 NYT NEW YORK, Thurs. At the end of this week, representatives of selected potential customers will gather at Intel In Santa Clara, California, to observe the latest turn in the war of memory technologies that continually shakes the Semiconductor Industry. The visitors toNYT - 503 words
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591 1977-03-04 4 F.T. AMSTERDAM, Thurs. AKZO, the Dutch-based chemicals company, slashed Its losses to F15.155 million In 1978 from F15.440 million the year before. If extraordinary Items are excluded, Akzo has managed to break even in 1976. But the board proposes to pass 1976F.T. - 591 words
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236 1977-03-04 4 Reuter LONDON, Thurs. Eurobond Interest and principal repayments due In 1977 total $6.3 billion, which compares with a new issue volume of $14.9 billion in 1976 and 8.6 billion in 1975, Orion Bank said. In a statistical study on fund reflows intoReuter - 236 words
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Article1457 1977-03-04 4 On March 2 TRADING in options on the Chicago Board Options exchange came to 103,330 contracts on Wednesday, compared with Tuesday 102,206. The number of contracts on I the upside was 168 compared with 348 on the downside. OPTION APL JLY OCT STOCK Alcoa 50 4 3/41,457 words
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Page 4 Advertisements
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Advertisement187 1977-03-04 4 HmwnMjonr copy <>f tin' l!)7(i 77 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INDEX OFFICIALS AND PUBLIC BOOIES Tb« Straits Times DIRECTORY OF SINGAPORE vmn A It's the 1976/77 'Red Book" the office/library reference book covering the business scene in Singapore. It is complete. Built up187 words
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INTERNATIONAL COMPANY NEWS
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163 1977-03-04 5 Reuter BRUSSELS, Thurs. The split In the oil price increases Imposed by the Organisation of Petroleum Exporting Countries (Opec) has caused such confusion in the oil market that it cannot continue for long, Mr. Adolphe Demeure de Lespaul, president and chief executive of PetroflnaReuter - 163 words
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Article98 1977-03-04 5 Reuter MANILA, ThUM— With the improvement in world copper prices, Atlas Consolidated Mining and Development has enjoyed a 16.1 per cent Increase In net profit to 100.5 million (164.1 million) pesos in 1976. -> <~ Net sales rose 13.9 percetft to 870 million (703.8 million) pesos.Reuter - 98 words
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Article81 1977-03-04 5 PARIS, Thurs. Undon de Banques Arabes et Franclasises is offering a US$25 million five-year floating rate note, Credit Lyonnals said as lead manager. The issue will bear interest a quarter of a point above the six-month London interbank offered rate with a minimum of 6% per cent and is81 words
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Briefly
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Article75 1977-03-04 5 NEW YORK, Thurs. i-j Fourth quarter net profit at noCoasta) States Gas rose to USSM.3 million from $11.6 ml I Hop, on revenue of $680.9 million CM89.9 million). For the.j*»feole of 1976, net profit million ($54.3 million) oa revenue of $2.3 billion ($1.9 billion). Earnings per share75 words
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Article100 1977-03-04 5 LONDON, Thurs. Tauer- n nautobahn's US$3O million, 10-year Eurobond has been priced at IOOVi with an 8V« per cent coupon, Kidder, Peabody International said as joint lead manager. An annual sinking fund will retire 50 per cent of the issue prior tc maturity, resulting in an average life of100 words
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Article104 1977-03-04 5 Reuter MELBOURNE, Thurs. Emperor Mines confirmed a report from Suva yesterday that It will reopen Its FIJI gold mine after negotiations between the company and the FIJI Government. Emperor said In a statement that the mine, which It closed In early February after a wages disputes, will reopen onReuter - 104 words
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Article37 1977-03-04 5 NEW YORK, Thurs. RCA Corporation has raised Its quarterly dividend to 30 US cents from 25 cents. The new dividend will be paid on May 2 to stockholders of Record on March 14, the company said.37 words
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Article27 1977-03-04 5 ZURICH Thurs. The 80 million franc, 15-year five per cent loan floated at par of the Swiss market by Philips was heavily oversubscribed, Schwelzerische Kredltanstalt said.27 words
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Article54 1977-03-04 5 Reuter FINDLAY, (Ohio) Thurs— Marathon Oil said it plugged and abandoned the Jal Pari No 1A well offshore Pakistan in the Arabian Sea after drilling to 6,585 feet. The company said the well was abandoned before reaching total projected depth because abnormally high pressures were encountered and there wereReuter - 54 words
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Article109 1977-03-04 5 Pkla., Thurs. Cities Service said Pertamlna, the Fn#on<e3lan Government-owntfU oil company, gave a group of comDanles. including Cities Service, permission to Eroceed with oil exploration i the Java Sea. Indonesia Cities Service Inc, as operator, will begin a three-test-well exploration programme as soon as a drilling contract can109 words
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Article39 1977-03-04 5 MELBOURNE,Thurs.- Gold Mines of Kalgoorlle (Australia) has suffered a further operating loss of A 554,000 (loss $49,000) in the first half-year ended Jan 11, 1977. Gross revenue was $4,000 (same). The loss Is after Interest of $11,000 ($25,000).39 words
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Article32 1977-03-04 5 AKRON, Ohio, Thurs FVestoqe Tire and Rubber said it cbncluded a licensing Sreement with Shln-Etsu emlcal of Japan to use Shln-Etsu's new polyvinyl chloride (PVC) process in a planned PVC plant.32 words
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Article284 1977-03-04 5 Reuter ATLANTA, Georgia, Thurs. Coca-Cola yesterday reported record profit for the fourth quarter and full year In 1976. The company also Increased Its quarterly dividend to 77 US cents from 66fc cents a share, and proposed a two-for-one stock spilt, to be voted on by stockholders at theReuter - 284 words
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Article55 1977-03-04 5 TORONTO, Thurs.- For the first'quarter ended Jan 31. 1977, net profit at Royai Bank of Canada fell to C 544.52 million from $47.4 million on revenue of $674.4 million ($579.2 million). Earnings per share fell to $1.22 from $1.30. The bank's assets showed a rise to $30.2 billion55 words
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Article225 1977-03-04 5 Reuter SYDNEY, Thurs. Hooker has reported an, J 1.4 p«t.j cent rise in Qflaeolidated net profit, uto-Ass',69 million (J£ t 3l jnHJion) on a 23.4 per cMft, -increase in gross revenue to $68.73 million ($55.68 million) in the first half-year ended Dec 31, 1976. The profitReuter - 225 words
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Article108 1977-03-04 5 Reuter TOKYO, Thurs.— Mitsui Petroleum Development and Overseas Petroleum Development Jointly established an equally-owned Joint venture, called Nippon Oulnea Petroleum, to Join an oil development project In waters off Oulnea, Mitsui said. It said the new company, capitalised at 98 million yen, will acquire a 10 perReuter - 108 words
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Article216 1977-03-04 5 Reuter MELBOURNE, Thurs. —On an 18.4 per cent rise In gross revenue to A 5224.35 ($189.41), operating profit at Ansett Transport Industries Jumped 76 per cent to $11.37 ($8.46) in the first half-year ended Dec 25, 1978. Profit Is before abnormal fain on sale ofReuter - 216 words
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Article130 1977-03-04 5 Reuter HONGKONG, Thurs. Wheelock Maritime International has declared unchanged Interim dividends of 15 HK cents and 1.5 cents for 'A* and 'B' shares respectively for the year ending March 31, 1977. Both dividends are payable on April 7. Company anticipates maintained a final dividend of 20 andReuter - 130 words
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Article714 1977-03-04 5 VARTANIG VARTAN - Kysor Industrial By VARTANIG VARTAN NYT IT is not often that the board chairman and biggest stockholder in a company is outvoted by his executive committee on a cash offer to buy the company. Yet that Is precisely what happened at Kysor Industrial of Cadillac, Mich., afterNYT - 714 words
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Article330 1977-03-04 5 FRANKFURT, Thurs Mannesmann has announced a decline In earnings following last year's steep drop in sales. Group turnover In 1978 fell back 10 Kr cent from DM13.09 bll>n to DM11.77 billion Shareholders In the group, which specialises In pipe and tube manufacture as well as plant construction,330 words
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166 1977-03-04 5 MELBOURNE,Thurs.— For the first 28 weeks ended Dec 31, 1976, unaudited net profit at Western Mining Com rose to A 57.03 million from $5.49 million on turnover of $99.2 million ($75.9 million). WMC Is maintaining the Interim dividend at three cents on fully paid 50-cent shares166 words
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428 1977-03-04 5 NYT s WASHINGTON, Thurs. Less than two weeks after the food and drug admlnis- tratlon forced an end to the production of one type of plastic soft-drink bottle, production has started on another plastic bottle made I from a different material. Amoco Chemicals, aNYT - 428 words
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Article120 1977-03-04 5 AP LONDON, Thurs. Plessey, a leading British electronics and telecommunications firm, last night announced plans to axe 4,000 Jobs with closure of three factories In the north of England. The firm blamed the need for the move on a cut-back on equipment orders by the British PostAP - 120 words
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206 1977-03-04 5 Reuter PORTLAND, Oregon, Thurs. A regional steel producer and retailer, Gilmore Steel Corporation, said yesterday it had comElalned to the US Treasury epartment that Japanese steel makers were "dumping" steel on the American market. Dumping is a term used to describe selling products abroadReuter - 206 words
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Article106 1977-03-04 5 Reuter NEW YORK, Thurs.— Net Eroflt at Philippine Long istance Telephone rose to J 3O-3 million pesos from 103.3 million pesos on revenue of 476.3 million (411.9 million) pesos last year. Earnings per share came to 16.82 pesos compared with 13.46 pesos last time. Diluted, they were 14.36Reuter - 106 words
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Article351 1977-03-04 5 Reuter HONGKONG, Thurs. Tax concession and economic forecasts announced in yesterday's Hongkong budget are likely to prove fairly neutral for the local stock market, brokers said. The tax concessions affected personal tax and property rates rather than corporate profits, they noted. Most analysts hadReuter - 351 words
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Article121 1977-03-04 5 Reuter TORONTO, Thurs. Inco said It expects first quarter results to be adversely affected by record nickel sales In December 1976, which will depress first quarter demand. But the company said 1977 year results snouia show an improvement over 1976. It said 1977 earnings should alsoReuter - 121 words
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Article55 1977-03-04 5 TOKYO Thurs On more than doubled sales, Showa Oil has raised after-tax profit to 2.07 billion yen from 149 million yen last year. Sales came to 513.97 billion yen compared with 232.64 billion yen last time. With the buoyant results, Showa has raised the dividend to five yen55 words
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401 1977-03-04 5 Reuter LONDON, Thurs. UK In--1 dustry Secretary Mr. Eric Varley yesterday told Parliament a drastic revision of British Leyland's car development plans will have to take place unless there Is a complete return to normal working and agreed productivity levels. Mr. Varley saidReuter - 401 words
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Page 5 Advertisements
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Advertisement80 1977-03-04 5 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) BUSINESS TIMES Subscription Form Address:. Designation:. Payment for S is enclosed All subscriptions are payable in advance and should be draw80 words
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Article2116 1977-03-04 6 Gr'i Gr'i Not Day 1976/77 1 Mt div Div y'ld P/E Vol High Low Company Sale +or- c vr cm High Low SECTION ONE INDUSTRIALS 175* 133 Ac ma 140 unch 12.ON 1.1 8.5 7.0 1 140 140 133 128 Acma A 128 -1 12.ON 1.1 9.32,116 words
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Article952 1977-03-04 6 BID and offer price* officially listed and buslneM 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 Board952 words
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Article1133 1977-03-04 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. INDUSTRIALS Acmi (1.418 1.438). A. Tap* < 0.528 0 MS) 111 0.53 A)in*m*to1,133 words
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Article118 1977-03-04 6 STRIKING price* of the stock option* officially listed on the Stock Exchange of Singapore, the periods, hid and offer prices and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June $3.90) (0.235 B 0.245) (4 0.23, (1) 0.23*. F. and N. (June $4.00)118 words
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Article137 1977-03-04 6 SINGAPORE UNIT TRUST (Mutfm priOM for Mar 4) INCOME BOND UNIT (Ctureat prieH) 1 ?R 1 M INCOME BOND 1.10 1 16 The Saving Fund 0.92 0.97xd S pore Prog Fund 0 81 O.N 8'pore Security Fund 1.37 1 45 SporeInve*tFund ...1.06 1.12 ASIAN UNIT TRUST (Majufere' pricea137 words
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Article157 1977-03-04 6 B O T 8 1/2% 1981 (100,000) (102*.8 103 *8) D B S 8 1/2% 1982 (100.000) (1008 100 3 .5) I) B S Converts 6 V 2% 1991 (JOO.OOO) (96 *B 97 *s: E 1 B 9% 1982 (100,QpO) (103'«B 104S) E I B 8 1/2% isib*(TG».a®r—157 words
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Article115 1977-03-04 6 5 1/2% 1/12/77 (1,000,000) (101.558 101.655) 5 1/2% 15/4/78 (1,000,000) (101.658 101.755) 5 1/4% 15/7/78 (1,000,000) (101.528 101.60S) 6 1/2% 15/8/78 (1,000,000) (103.358 103.505) 7% 1/7/79 (1,000,000) (104.858 105.00S) 5 1/2% 1/10/77-79 (1.000.000) (101.608 101.70S) 5 1/4% 15/10/79 (1.000.000) (101.088 101.18S) 6 3/4% 15/6/80 (1,000.000) (103 00B)115 words
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Page 6 Advertisements
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Advertisement138 1977-03-04 6 Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: IN. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business Enterprise: M. Gilbert Corporation Man: A.138 words
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Article457 1977-03-04 7 LISTLESS trading condi- i tions persisted at the Stock 1 Exchange of Singapore yesterday when volume was considerably reduced. Investors, including the big institutions, were still waking themselves scarce, leaving the market to find its own level under the existing technical position. 1 According to dealers and457 words
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Article389 1977-03-04 7 SHARES were traded without range or volume on the Kuala Lumpur stock market yesterday. However, there was some support for a handful of speculative stocks. Traders were reported to have received buying orders for these stocks for cutohts who, apparently felt that they were attractive389 words
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Article173 1977-03-04 7 Reuter TOKYO, Thurs. Japanese corporate bond Issues scheduled in March total 109.1 billion yen, compared with the 57.1 billion floated last month, the Underwriters Association said. The Association said the Increase reflects a recently decided cut In the coupon for March Issues to 8.6 perReuter - 173 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1043 1977-03-04 7 NEW YORK: The stock market reversed two consecutive sessions of gains as prices finished lower In slow trading on Wednesday. After trading on a firm tone during most of the session, selling pressure began to surface, mainly In the glamour and blue chip stocks that had attracted buying1,043 words
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Article255 1977-03-04 7 FRANKFURT: Most leading shares rose up to two marks In brisk trading on Wednesday following the sharp recovery In Siemens shares which rose 5.50 marks, dealers said. Wall Street'* Improvement and the compromise reached In the public service wage talks also boosted Demane, dealers said. Other big gainers were255 words
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Article297 1977-03-04 7 AMSTERDAM: Market was generally very steady In quiet conditions on Wednesday with Unilever showing a marked gain In Dutch Internationals on Its 1970 figures released on Tuesday. Akse, Hoocovens and Philips changed little. Royal Dutch finished unchanged. Elsewhere banks. Insurances and shippings were mostly narrowly mixed. Major gains were297 words
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Article144 1977-03-04 7 MILAN: The market closed easier over a broad front In fairly active trading on heavy profit-taking dealers said on Wednesday All leading industrials lost ground, but Fiat was marginally higher. Aaicuraxioiii General! firmed In Insurances, while banks and flnanclals were again lower. Bonds were generally steadier. MAR 02 Lire144 words
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Article273 1977-03-04 7 ZURICH: The market closed narrowly mixed In very quiet activity on Wednesday Leading banks and insurances ruled steady, while small losses predominated In flnanclals, except Forbo 'B' which eased more markedly In a narrow market, while MetaUwerte continued to rise. In mostly well maintained industrials merkur extended Its recent273 words
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Article389 1977-03-04 7 JOHANNESBURG: Gold shares traded steady at higher levels as trade slackened off ahead of the IMF auction, dealers said on Wednesday. Financial minings were steady to firmer, with Mid Wiu rising 15 cents to 380. De Been shed two cents to 398 Coppers were steady, although Palamia gained 40389 words
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Article357 1977-03-04 7 PARIS: The market closed generally Irregular In very quiet trading, dealers said on Wednesday. Banks, motors, hotels and oils were resistant. Electrlcals and chemicals were steady. Constructions and steel were mixed, while rubbers and engineerings eased U8 Issues were steady, Oermans and Dutch firm, but Belgians eased. International oils357 words
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Article155 1977-03-04 7 BRUSSELS: Prices closed mixed In slightly livelier trading, dealers said on Wednesday Hoboken, Cockerill, GB and Cometra rose wmte Clabecq, Acec and St Roch were lower. In foreign stocks, UK and French were little changed. German and Dutch steady and most US stocks higher. Gold mines rose with the155 words
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Article309 1977-03-04 7 TORONTO: A board retreat from noon highs brought the Toronto market to a generally mixed position at the close of moderate trading on Wednesday. Advances led declines 201 to 194. Among the major changes, Versatile Manufacturing rose H at 11. Budd Automotive Vi at Bank of Montreal at 14-H309 words
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Article446 1977-03-04 7 SYDNEY: Share prices rose sharply In fairly active trading, aided by the continuing upturn In metal prices, with base metals leading the rise, dealers said on Thursday. The Sydney All-Ordlnarles Index rose 5.22 points to 431.27. Central Norseman rose 40 cents to $3.20 following the IMF gold auction result,446 words
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Article154 1977-03-04 7 MANILA: The market was generally firmer on Thursday with turnover rising to 5.02 million pesos from Wednesday's 3.17 million dealers said. Oalners Included Acoie Mining, Atlas Cob A and B, Benrue< Con B, Marinduque B, PhUex B, Oriental A and Seafroat. Unchanged Issues Included Baguio Gold, Lepaato B, Meralco,154 words
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Article441 1977-03-04 7 HONGKONG: The market closed lower across the board on Thursday despite a general view that Wednesday's budget was neutral for stock prices, dealers said. The Hang Seng Index fell 4.14 points to 429.06 Trading was moderate Jardine Matheaon and Hongkong Bank fell 30 cents each to $16.90 and $20.10441 words
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Article481 1977-03-04 7 TOKYO: Share prices closed slightly lower on liquidations centring on export-oriented shares, on fears of US moves to curb Imports of Japanese colour television sets, dealers said on Thursday. The Dow Jones average lost 0.78 to close at 5,056.86 with volume 300 million shares. The New Index closed at481 words
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Article77 1977-03-04 7 MAR 03 Bah is Asia Fibre 129 Bangkok Bank 299 unch Bangkok Invest 199 unch Bangkok-Metro-politan Bank Bata 37 Berli Jucker 1728 Charoong Thai Wire Dumex Duslt Thanl Faber Merlin First Trust Indo-Th&l J And J Ho Jalaprathan Cement 84 ♦1 Karnasuta Lee Kwang Mln Metal Box 5 6077 words
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Article67 1977-03-04 7 FINANCIAL TIMES INDUSTRIALS Wednesday 410.6 Tuesday 410.4 Week ago 402 1 DOW JONES AVERAGE INDUSTRIALS Wednesday 942.07 Tuesday 944 73 Week ago 938 25 LONDON DOLLAR PREMIUM Wednesday 105W to 106% Tuesday 108 to lO® 1 H.K HANG SENG Wednesday 433.20 Tuesday 433.28 Week ago 434 38 SYDNEY INDUSTRIALS67 words
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Page 7 Advertisements
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Advertisement332 1977-03-04 7 .i >' m Yes, Penguin books are not to be found in any ordinary shop. in little road-side stalls. Heavens, certainly not in the pasar ma/am! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational Jjlml quite unlike the type that332 words
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COMMODITY REPORTS AND PRICES
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Article711 1977-03-04 8 IN the Singapore rubber market yesterday, dealers said the London rubber market's overnight rise coupled with the outcome of the Opec meeting In Vienna boosted opening prices by two cents and levels rose further on nervous trade and speculative shortcovering. April was traded at a711 words
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Article31 1977-03-04 8 Rubber: Mar 3 Singapore: Mar. 202.0 r cts (up 4.50 .is.) Malaysia: Mar. 206.00 cts (up 3.75 eta) Tin: 11,571.00 (up Sll.00) Official offering: 310 tonnes (up 73 tonnes)31 words
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Article334 1977-03-04 8 IN the Singapore gold market yesterday, the kllobar price fluctuated violently between a high of 5511,650 to a low of 5511,500 following the results of the IMF gold auction. However, market was very thin. On the loco London basis, market opened U*****.00 146.50 and profit-taking and short selling came334 words
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Article91 1977-03-04 8 Mar. Apr. R.A.8. (Current Mth) (Forward Mth) Buyer* Seller* Buver Seller* (cenU iperkft (ew >ta par kg) SSR20 (1-ton Pallet) 191.00 193 00N 192 SO 194.SON SSR50 (1-ton Pallet) 188.30 190.50N 190.00 192.00N M.R.E.L.B. SMR5CV (1-ton Pallet) 223 50 225.50N 236.50 228.SON SMR 5L (1-ton Pallet) 213.9091 words
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Article121 1977-03-04 8 THE followln* Palm Chi price* wer prices are elf Rotterdam and an e quoted In London on Wednesday. The e quoted in US di Wednesday >Uar per ton unless otherwise stated. Pre*. Malaysia 5* (fa bulk Apl/May 551 sir 533 sir Sumatra 5% Feb unch 520 pd Men121 words
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Article231 1977-03-04 8 LONDON, Thurs. Copper wire bars finished the morning with losses of £1.50 per tonne for Cash and £0.50 for Three Months. Only 2,000 tonnes changed hands at relatively steady levels In the Ring. The Kerb eased under light trade selling, with Three Months finally changing hands at £896. Cathodes231 words
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Article211 1977-03-04 8 BANGKOK, Thurs. Indicative prices quoted for rice are: In HONGKONG, the market was quiet with prices down 20 cents to 50 cents. The day's turnover totalled 283 tons comprising Thais 98 tons, Kwangtungs 134 tons and Australian 51 tons. Arrival was from Kwangtungs 420 tons. US dollars per tonne211 words
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Article104 1977-03-04 8 LONDON, Thurs. Lead hardened by £1 for Cash and £2.50 for Three Months in the morning. The metal showed wide fluctuations during premarket and Ring dealings following the recent producer price Increases Hedging against Improved scrap intake and additional profit taking had erased most gains by the close. Three104 words
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Article173 1977-03-04 8 THE Straits tin price In Penang yesterday was up $11.00 to $1,571.00 on an official offering up 73 tonnes to 310 tonnes. In LONDON yesterday, tin prices moved up sharply to close £125 higher for Cash and £130 up for Three Months in both contracts. New trading highs173 words
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Article283 1977-03-04 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICVL YESTERDAY. Coconut Oil Bulk $924 sellers. oM drum $97 sellers, new drum 1102 sellers. Copra Mixed (loose) UK/Cont MO buyers Pepper Muntok ASTA while f o b. 100S NLW $300 sellers. Sarawak white f ob 96% NLW 1340 sellers.283 words
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Article325 1977-03-04 8 LONDON, Thurs. Robusta futures ended the opening call steady, £47 to £92 per tonne above last night's close. Volume was 461 lots. Most positions closed at the session's highs with the exception of May, which eased to close at £3910 having traded within a high/low range of £3925 to325 words
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Article155 1977-03-04 8 CHICAGO, Wed. Wheat futures extended earlier losses late In the session and closed to six cents a bushel, at or Just above the day's lows. Some early firmness was shown on a spillover of support from soybean futures but prices were depressed on liquidation and speculative selling stimulated by155 words
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Article169 1977-03-04 8 Wed. Soybean firtnw closed at the day's best prieefl, which also reK resented new Seasonal ighs, and finished with., gains of 18'/i to 9% cents a bushel. All old crop contracts closed above US$B.OO a bushel. Prices were driven upward by speculative buylng-on expectations of increasing tightness of nearby169 words
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MONEY AND EXCHANGES
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Article532 1977-03-04 8 ANOTHER active day was reported In the Singapore domestic money market yesterday when overnight Interest rates continued to fluctuate widely, hitting a peak of eight per cent at one stage. From Its opening of 6Vt per cent to six per cent, overnight funds firmed rapidly during initial trading to532 words
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Article151 1977-03-04 8 Asian rates ASIAN currency deposit interbank rates u at cloae on March 3 US Dollars (Spott Ofhr Bid 7 day* .41* 4*i 1 mth .4 15/18 4 13/19 2 mth* S 3 mthi .5* 5* 6 mthi 5* 5* 8 mthi .5* 5*. 12 mth* 8w. Fi». (alMkn Dm 1151 words
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Article51 1977-03-04 8 RANGE of pr Ices offer ed by ducount houses on March 3 Overnight 3S Call deposit 2* to 3S n—tag Buy Saittac 3-month Treasury billa S 2 7/> 3-Month Bank bills 4 1/i 4 3-Month CD 4 in 4 5/16 6-Month CD 4 V> 4 1/16 Source: National Discount51 words
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Article141 1977-03-04 8 Euro rates LONDON, Thurs. Period Eurodollar deposits opened higher up to Ave months reflecting loss of the Friday dealing technicality while short-dates were steady, dealers said. Time deposits tended slightly softer In early trading, stemming from comments by Federal Reserve Board chairman Arthur Burns that any major change in monetary141 words
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Article214 1977-03-04 8 LONDON, Thurs. Early European currency trading was very quiet, with little movement In major currencies, dealers said. Sterling traded quietly around $1.7140, while the Canadian dollar, apparently buoyed by a bond conversion, was Indicated around its North American close at U5595.99/ 96.03 cents. The Danish crown was marked up214 words
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Article211 1977-03-04 8 NEW YORK, Wed. The Canadian dollar closed stronger although below session highs after a relatively quiet session. A small external bond conversion and improved market sentiment following Tuesday's speedy placement In Canada of a Quebec province bond combined to boost the unit to U596.10 cents before it eased211 words
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Article231 1977-03-04 8 HONGKONG, Thurs. The Hongkong dollar continued to flrmrtoday despite Financial Secretary Philip Haddon-Cave's forecast In his budget speech yesterday that it will not strengthen further In 1977, but In quiet trading, dealers said. The local unit closed at HK54.6370/90 for delivery today and $4.6360/80 against the US dollar for231 words
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Article121 1977-03-04 8 TOKYO, Thurs. The US dollar for overnight delivery closed lower at 281.30 yen compared with 281.50 at the opening and 281.70 at yesterday's close, dealers said. At one stage the US unit fell to 281.05, as buying Interest was limited by anticipation of a further appreciation of the yen,121 words
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Article55 1977-03-04 8 Minimum lending rates (in ACBC 6%. Algemene Bank 9% Bangkok Bank ..7 Bank of America 6* Bank of China .7 Bank of Tokyo 6* Bank Negara First Chicago fl* Citibank 6* HSBC 7 Indosuez Malayan Banking 6*> Mitsui Bank 8* OCBC OUB Chartered Bank .8* Chase Manhattan 6* DBS 6*55 words
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Article47 1977-03-04 8 AUSTRALIA/NZ exchanges quoted on March 3. Australia: Sterling 0.6441/0.6371 US dollar 1.1011/1.0963 Ninety-day air mall buying rates: Sterling 0.6702 US dollars 1.1261 Ninety-day forward buying rates: Sterling 0.6536 US dollars 1.0946 New Zealand: Sterling 0.5587/0.5556 US dollars 0.9626/0.9526 Ninety-day forward rate: Sterling 0.5912 US dollars 0.981247 words
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Article42 1977-03-04 8 ZURICH exchanges closing quotes on March 2 US 2.5492-5407 •>-> UK 4 3675-3720 Can 2.4415-4445'-" 10 W Germ 1W.81-7I Neth 102.28-30 France 51.23-28 Belr*ttH-95% Denm 43.38-42 N6rw 48.45-50 Swed 60.44-51 Italy 0.2876-2880 Austria 14.98-15.02 Port 6.57-59 Spain 3.69".-70'/« Arg 0.75-90 Japan 0.90K-%42 words
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Article38 1977-03-04 8 FRANKFURT exchanges opening quotes on March 3. US 2.3918/28 2.3900/10) Can 2.2930/50 UK 4.100/115 Neth 95.92/ 96.07 Swltz 93.45/60 Italy 2.700/ 715 France 48.02/17 Norw 45.42/49 Belg com 6.520/ 535 Belg fin 6.525/ 535 Japan 0.8495/ 851038 words
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Article301 1977-03-04 8 LONDON, Thurs. Dollar bonds held yesterday's levels In moderately active trading, dealers said. Convertible bonds were quiet with US dollar bonds virtually unchanged and Japanese bonds franctlonally easier where changed. LONDON Eurobond prices quoted on Mar 3 strmichu Bid Offer Austria 8* 90 100* 101* Bell Canada 8*301 words
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Article290 1977-03-04 8 LONDON, Thurs. Silver finished with gains ranging from 0.8 to 1.5 pence per troy ounce In the morning. Early pre-market values were firm reflecting overnight New York and gold, dealers said, with Three Months traded at 291 pence. The market was later subjected to profit-taking and prices fell back290 words
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Article103 1977-03-04 8 LONDON. Thurs. Zinc finished with gains of £0.50 per tonne all round In the morning. After early hesitancy, values worked higher In sympathy with the general trend and Three Months traded from a low in the pre-market of £444 to a high In the Ring of £449.50 per tonne.103 words
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Article245 1977-03-04 8 LONDON, Thurs. Terminal sugar was £0.25 per tonne down from Jast night (near May at 126.85 bid) ta £0.25 higher at the end of the first call. The market"' was quiet. F.O. Llcht's first estimate of 1977 European sugar beet acreage, due today, is expected by some sources to245 words
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Advertisement457 1977-03-04 8 agl '--sss -raSS -i <J w m F W I JlrJSErii s i i f I f i i s. rs i H ILi L_ THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas457 words
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TRANSPORT AND COMMUNICATIONS
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Article1609 1977-03-04 9 Financial Times RENAULT, the French state-owned motor company which last year established a new Droductlon record of 1.657,000 vehicles, is frequently held up as one of the world's few successful nationalised concerns, whose performance is envied by many of its private French and foreign rivals.Financial Times - 1,609 words
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Article, Illustration371 1977-03-04 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Hoegh Opal (2100 after Amstelveen) 6/7 King Lake (after Dong Moon) 22 Muchlhausen (DEVX) (after Colorado) 33/34 Murasaki Maru No. 5 (1500 subject Freeboard) 24 Neptune Jasper (1730 tide) 27/28 Pionerskaya Pravada (0600 after Dong Shin) 29/30 Savannah Maru (1400 after Rotterdam) 45371 words
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Article, Illustration908 1977-03-04 9 JULIN KERR - JULIN KERR Reuter A HUGE orange and white gantry towering above an Isolated beach on this southern Island symbolises the increasing scope and expertise of Japan's space programme. In the past seven years, Japanese engineers and scientists have successfully boostedReuter - 908 words
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Article168 1977-03-04 9 AP LONDON, Thurs. Several March fixtures pointed to the beginning of a longawaited expansion of North American grain chartering on the London freight market yesterday. Shipowners generally managed to secure quite steady rates for a number of trans-Atlantic grain movements. For Instance, a 57,000-ton March 5-10 loaderAP - 168 words
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Article609 1977-03-04 9 ARRIVALS Service Operator Number Local Time I i From CPA OA MAS PAA JAL CX003 OA472 MH682 PA 841 JL712 0145 0200 0810 0050 1000 HKO 8YD/MEL KCH SFO/HNL/GUM HLP SIA OIA OIA PAL KLM SA211 OA 980 QA908 PR501 KL833 1010 1030 1100 1115 1150 HLP609 words
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Page 9 Advertisements
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Advertisement485 1977-03-04 9 7 v *4 l w <* > -f'^ WS* i Southeast Asia has as many faces as there ace eyes in a peacock's tail And the Straits Times Annual has painted them all, in peacock-colours. Living up to a long-established record of quality reporting on the culture, on history and485 words
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767 1977-03-04 10 BERND DEBUSMAN - »y BERND DEBUSMAN Reuter NEXT week's Afro-Arab summit here brings together the leaders of some 300 million people whose diversity, disparity and often conflicting interests make prospects of any major agreement unlikely. This was the view of diplomats and analysts as foreign ministers ofReuter - 767 words
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Article, Illustration610 1977-03-04 10 JOHN CALDCOTT - By JOHN CALDCOTT UPI EVEN the rich and superrich are leaving Switzerland. Like everyone else they have found that rising taxation and a 70 per cent appreciation of the Swiss franc make it an ultra-ex-pensive place to live. Baron Hans Heinrich Thyssen,UPI - 610 words
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Article, Illustration562 1977-03-04 10 JOHN LAWTON - By JOHN LAWTON UPI "AMERICANS don't come here for their health or entertainment," said a US diplomat. "They come here to make money." An American construction foreman on an Abu Dhabi hotel site earns US$l,OOO (552.450), a week. Resident representatives of AmericanUPI - 562 words
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769 1977-03-04 10 DAVID CHURCHILL - By DAVID CHURCHILL Financial Times NewsFeatures TOP diplomats In Britain's embassies throughout the world are ready to take Industrial action. Including a work to rule, in protest at plans to cut the British Diplomatic Service. This almost unheard-of earning from top diplomats was revealedFinancial Times News-Features - 769 words
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731 1977-03-04 10 HUGH ORGEL - By HUGH ORGEL Reuter A DOZEN former members of the Israeli financial, cultural and government establishment held In Jail testify to a fact that Is worrying many Israelis an Increase in the Incidence of bribery, corruption and embezzlement in high places.Reuter - 731 words
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Advertisement284 1977-03-04 10 APPOINTMENTS Br PH HYDRAULICS J ENGINEERING PTE. LTD. Invites applications for the post of: SERVICE PROJECT ENGINEER The Job Hydraulic and hydro-mechanical project engineering, design, service, repair and supervision of installations. Qualification: Diploma in Mechanical or Electrical Engineering with at least 2 years working experience with mechanical or hydraulic equipment,284 words
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Advertisement285 1977-03-04 10 LARGE U.S. SPECIALTY STEEL COMPANY has an immediate vacancy for a REGIONAL SALES MANAGER (Minimum 5530.000/- p.a. phis benefits) in its Singapore liaison office to develop Singapore, Malaysian and Indonesian markets. The successful candidate must be selfmotivating, go-out and develop sales and be able to communicate at all levels witlf285 words
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Advertisement1058 1977-03-04 11 (§Hfir" Times Publishing Bhd Annual Report and Accounts for 1976 Times Publishing Bhd. and its subsidiaries Chairman's Statement The financial year September 1975 to August 1976 has been a year of consolidation for the original Straits Times Group of companies consequent to the major reconstruction programme commenced the previous year.1,058 words
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358 1977-03-04 12 THE Cabinet has decided that the Auditor General should be solely responsible for the auditing of the financial accounts of statutory boards. To implement the Cabinet's decision, the Auditor General has begun to take over gradually from commercial auditors the drawing up358 words
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Article181 1977-03-04 12 A DISPUTE has arisen over the sacking of 18 Singapore seamen by a local shipping firm. The seamen who were employed by Goodyear Shipping on the freighter, Goodgrace, were dismissed for allegedly taking part in demonstrations, assaulting senior personnel and going on strike while the vessel181 words
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Article171 1977-03-04 12 UPI LONDON. Thurs. The appeal court yesterday begdn hearing an appeal by Rasu Maritlma SA on an Injunction lifted by the High Court against the Indonesian state oil company, Pertamina. Lawyers for both sides were expected to argue the case for at least two days,UPI - 171 words
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Article817 1977-03-04 12 LONDON, Thurs. The absence of a minimum lending rate reduction caused a downward reaction among government bonds but equity leaders held generally steady though off the top In places Turnover was small and at 3 pm. the Financial Times Index was up 1.2 at 411.8 Short-dated government bonds817 words
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178 1977-03-04 12 Reuter UPI TOKYO, Than. Four armed right-wing extremists today burst into the headquarter* of the powerful Federation of Japan Economic Organisations (Keidanren) and took four hostages. They later released two of the hostages. The intruders, armed with a shotgun and a short sword, soon afterReuter; UPI - 178 words
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Article132 1977-03-04 12 KUALA LUMPUR. Thurs. The revised border agreement between Malaysia and Thailand, aimed at strengthening co-opera-tion in security operations against the communist terrorists along their common border, will be signed In Bangkok tomorrow evening. Foreign Ministers of the two countries, Tengku Ahmad Rithauddeen and Dr. Upadlt Pancharlyangkun,132 words
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Article95 1977-03-04 12 AP BANGKOK, Thurs. Representatives of nine rice-exporting and importing countries of Asia have met to consider schemes for expanded intra regional trade in rice. The meeting is held under the sponsorship of the United Nations and the Asian Rice Trade Fund. The objective is toAP - 95 words
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Article75 1977-03-04 12 Reuter TOKYO, Thurs. Toyota Motor said it is considering assembling Its small cars in the US, but no concrete plans have been worked out for a location of the plant and the timing of its construction. It has been invited by more than 20 statesReuter - 75 words
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365 1977-03-04 12 THE National Productivity Board Is introducing a new comprehensive course in work study to help improve productivity In local industries, its chairman, Mr. G.C. Thlo, said yesterday. It Is also introducing an integrated course in low cost automation which small and medium industries can365 words
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724 1977-03-04 12 THAI EXPERT ON FIGHTING REDS Reuter BANGKOK, Thurs. One of Thailand's leading experts on communist insurgency said today there were grounds for cautious optimism in the 11-year-old fight against communist guerillas. But General Salyud Kerdphol. deputy commander of the Internal Security Operations CommandReuter - 724 words
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393 1977-03-04 12 DREDGING operations in ports have serious ecological implications. Since coastal zones are among the world's most delicately balanced of environments, dredging activities must aim to be as compatible as possible within the wider framework of coastal management. Because of their rapidlychanging complex of Interdependent dynamic393 words
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Article230 1977-03-04 12 KUALA LUMPUR. Thurs. The Malayan Employers' Consultative Association (Meca) today expressed concern over a decision by the Malaysian Trades Union Congress (MTUC) to form a political party. The editorial In Meca's latest newsletter said that a new political party sponsored by the MTUC will alter the230 words
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Article314 1977-03-04 12 PETALING JAYA, Thurs. A local electric bulbmanufacturing company here has applied to the Trade and Industry Ministry for an increase In the retail prices of Its products. Malaysian Lamps plant manager, Mr. V. Hleuwland said today the company's losses last year amounted to between M 5600.000314 words
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Article88 1977-03-04 12 AP ROME, Thurs. A commercial delegation from Flat, the giant Italian car maker, arrived In Peking yesterday to negotiate an Industrial co-operation agreement, the Italian National News Agency, ANSA reported from the Chinese capital. The Flat delegation was led by Mr. Nlcolo Olola. an executive forAP - 88 words
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174 1977-03-04 12 KUALA LUMPUR, Thurs. Malaysia's ambassadors and high commissioners from all its 24 missions in Asia and North Africa will be returning home for a five-day conference beginning next Thursday. This will be the biggest congregation of Malaysia's heads of missions held so far.174 words
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146 1977-03-04 12 THE Japanese economy Is expected to grow by 6.7 per cent this year, up from 5.7 per cent last year, according to a forecast by the Tokyo Government. In its "Economic Outlook for Fiscal 1977", the Government says It expects this growth146 words
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Article104 1977-03-04 12 A 20-MEMBER delegation of the Japan Forest Mushroom Promotion Association arrives today to survey the mushroom market In Singapore the second largest importer of top grade Japanese mushrooms after Hongkong. They will hold discussions with local Importers and traders on the market situation and to104 words
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Article73 1977-03-04 12 WITH the streamlining of the shipping division of the Straits Group here, Mansfield Shipping Services (MSS) has ceased to exist. It's containerised business has been passed to a new company, Mansfield Shipping, and its conventional cargo/agency business, has been passed to Straits Shipping. In addition73 words
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Article76 1977-03-04 12 A HONGKONG-BASED firm, Kwasho Internatlon (HK). filed a suit for $299,561 at the High Court yesterday against T.S. Motors and Mr. Llm Tong See. Messrs Llm Sin and Thaim Beng represent the Hongkong firm. Other suits include one by Hitachi (S) against Mr. Llm Hock Poh, trading76 words
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Article52 1977-03-04 12 MR Eric Gwee Teck Hal, an executive committee member of the Singapore Manufacturers' Association (SMA), has been appointed to the National Wages Council. Mr Gwee's appointment as a nominee of the BMA took effect from Feb 28. He takes the place of Mr Llm Hong Keat on52 words
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Article99 1977-03-04 12 TOKYO, Frl. Eldal suffered an after-tax loss of 13.09 billion yen (*****.5 million) last year. However, this Is an Improvement on 1975's deficit of 19.27 billion yen. Sales rose to 103.09 billion yen from 101.M billion yen. Its subsidiary in Singapore, Singapore Eldal Corporation,99 words
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Article73 1977-03-04 12 Reuter SYDNEY, Thurs. Conventional cargo handling in the Port of Sydney came to a halt today when about 3,000 waterside workers walked off the Job, shipping sources said. The men struck for 24 hours until tomorrow morning to protest at the Federal Government's opposition at the currentReuter - 73 words
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316 1977-03-04 12 Reuter LONDON, Thurs. Progress is being made at the current session of the International Tin Council (ITC) towards having regular price reviews as part of the International Tin Agreement (ITA), delegate sources said. In the past/ revisions of the operating ranges of the bufferReuter - 316 words
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Advertisement161 1977-03-04 12 r% r t u z V m 7/„ A V I -fj x i fir 91 W lis M ss°^ 5# H 32W m m S§ i s« M tfWPS, SK loor 00 Mandarin Singapore i i Through our affiliation with Security Pacific National Bank, one of the tan largest161 words
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