The Business Times, 18 May 1977
1977-05-18
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The Business Times
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Title Section10 1977-05-18 1 BUSINESS TIMES M.C.(P) 300/1/77 WEDNESDAY, MAY 18, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article50 1977-05-18 1 Reuter JAKARTA, Tues. Singapore Ambassador to Indonesia, Rahim Ishak, will open a branch office of the Asia 1 Commercial Banking Corporation (ACBC) here on Friday, a bank spokesman said today. The ACBC will be the second Singapore bank to operate In Indonesia after Tat Lee Bank Ltd.—Reuter - 50 words
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Article59 1977-05-18 1 Reuter BANGKOK, Tues. The United Thai Shipping Line and the Far Eastern Freight Conference (FEFC) failed to reach agreement on United Thai's application for FEFC membership, Admiral Jit Sangkhadul, chairman of the Government's Subcommittee on Development of the Merchant Marine said. Adm. Jit added United Thai expectsReuter - 59 words
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Article48 1977-05-18 1 Reuter LONDON, Tues. Lonrho said It has made an agreed bid of 130p (555.50) cash per share for AVP Industries Ltd, valuing the company at £9.2 million. AVP Industries' activities Include property Investment, refrigeration, and air conditioning, office furniture, hotels and cold stores. ReuterReuter - 48 words
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Article33 1977-05-18 1 KUALA LUMPUR, Tues. No more licences will be issued for trawler fishing within 19 km off the shore of peninsular Malaysia, Agriculture Minister Datuk All Hajl Ahmad said today.33 words
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Article27 1977-05-18 1 HONGKONG, Tues The number of tourists visiting Hongkong rose by 20 per cent last year to reach 1.6 million, the Tourist Association said today.27 words
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Article65 1977-05-18 1 UPI NEW YORK Tues. Winds of about 40 to 80 km per hour have hit one of Brazil's major coffeeproducing regions, damaging an undetermined number of coffee trees, a spokesman for the Brazilian Coffee Institute said here today. Unofficial word from Brazilian coffee traders estimated the damageUPI - 65 words
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Article76 1977-05-18 1 AP LOS ANGELES, Tues. President Carter today promised to battle successfully against high unemployment and high Inflation, pledging to take whatever steps might be needed "if the recovery should falter during the years ahead." Mr. Carter detailed his domestic policy goals in an address prepared for the annualAP - 76 words
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Article96 1977-05-18 1 UPI NEW YORK, Tues. Prices struggled for direction early today In active trading of New York Stock Exchange issues. There was little in the news background to Influence the market In either direction. The Dow Jones industrial average, which gained 4.16 points yesterday, was off 0.17 point toUPI - 96 words
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Chief Price Changes
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Article, Illustration173 1977-05-18 1 Rises Most active Loytape 60 ST P 1975 470 UIC 206 OCBC 860 Wearnet 278 MUI 115 BRaya 70 Kempu 277 Public Bank 225 HiCk A Low 155 Foils API 82 Maia Rice 76 Jardiaea 178 Taa Ckoag 166 CSusan 207 Perak Carbide 82 +20 10 +6173 words
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Article102 1977-05-18 1 Rises Most active D. Keramat 0.50 Tiipin( Cos. 2.28 Toaaiba 2.14 Carlaberf 3.58 CobmI Pit. 3.98 Loytape 0.82 P. Bank 2.29 Falls Centra] Sugar* 2.00 Ial. and Pen. 1.00 OCBC 0.05 F. Cables 0.95* Tractor* 3.02 UO.M. Work* 128 .20 .12 .09 .00 .00 .05 .05 -09102 words
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Article, Illustration1225 1977-05-18 1 QUEK PECK LIM - DESPITE LIMITED DEPOSIT TAKING By QUEK PECK LIM FOREIGN banks continue to dominate the banking sector in Singapore despite sustained and continued growth of local banks. In 1975, the year when comparative statistics for all banks operating In Singapore are available, total banking assets were1,225 words
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952 1977-05-18 1 LOCAL banks, suffering from having to invest their surplus liquidity at rates below cost, are not going to see their profit and loss accounts improved by the entry of that large source of deposit cash, the Post Office Savings Bank. Into the952 words
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Article267 1977-05-18 1 Reuter JAKARTA, Tues. Indonesia has decided to stop the import of all goods using merchant's letter of credit aimed at cracking down on smuggling, a government spokesman said today. He said the decision was taken at a meeting President Suharto haa with Attorney General All Said,Reuter - 267 words
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Article133 1977-05-18 1 UPI JAKARTA. Tues. The United States Government today agreed to sell U5546.7 million (*****.9 million) worth of rice and wheat on a soft-term credit basis to Indonesia. The agreement signed In Jakarta under the United States PL-480 Food Aid Flan calls for the shipment to 150,000UPI - 133 words
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Article170 1977-05-18 1 KUALA LUMPUR, Tues. The Trade and Industry Ministry is to investigate reports of a shortage of cement which has led to a rise in price, according to a ministry spokesman. He said: "We had a shortage of cement a month ago but thought the situation170 words
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Article152 1977-05-18 1 LOWER food prices last month helped the consumer price index to register its second consecutive decline for the year. The Department of Statistics said that the index for April was 0.8 per cent lower than a month ago, although at that level it was still152 words
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Article368 1977-05-18 1 SANWA Bank of Japan, may soon upgrade Its representative office here, set up In 1971, to an offshore branch once approval for the change Is given by the Monetary Authority of Singapore. Mr. Teruakl Tanaka, Sanwa's chief representative here, yesterday confirmed Tokyo reports that368 words
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Article143 1977-05-18 1 TOKYO, Tues. Japan and the United States are scheduled to sign an agreement on Saturday in Washington on Japan's self-restraint of its colour television set exports to America, government sources said today. The Japanese Ministry of International Trade and Industry (MITI), which has been in143 words
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Article80 1977-05-18 1 THE Private Investment Company for Asia (PICA) plans to Invest $4 million to $6 million In two to three lndustrlal projects in Singapore by the end of this year, according to PICA'S regional manager for Singapore, Malaysia and Thailand, Mr. Lee Cheong Seng, yesterday. He said negotiations are80 words
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Page 1 Advertisements
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Advertisement72 1977-05-18 1 With a Reputation for Unrivalled Security and Fair Dealing over 131 years, Our Clients can be Assured... Royal Insurance I tncopcwHd tmlwHl looks after you. Fast 18th Fir., Ocean Building, Collyer Quay, Singapore 1. Tel: ***** *****1. I iverteti New*/TV A Overseas Stocks adio -P2 Commodities hrcntu News/ Transport A72 words
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Advertisement57 1977-05-18 1 RECORD ws 1 mm w y PLAYBACK i5#S 1 r s* TTSASONY" •Dual syrttm: Displays both PAL and modified NTSC colour recording when combined with both CVM-1810E VO-1810. Receives and records TV programmes off the air. •Fully Automatic, solid state circuitry. For further information please contact: Setron Electronic* Pte Ltd57 words
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Advertisement253 1977-05-18 1 I Gas has got a flame f\OW The printing calculator that prints numbers in easy-reading thousands Olhvttife heavy duty Logos 42 makes light work of office calculations Designed for heavy use, the new Logos 42 has all the features you need for fast, efficient office calculations as well as the253 words
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OVERSEAS
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220 1977-05-18 2 Reuter PARIS. Tues. A fourteen-nation meeting is being held at the European offices of the World Bank to discuss US proposals for a major international credit for Portugal, conference sources said. The meeting, chaired by US Deputy Assistant Secretary of State, Mr. PaulReuter - 220 words
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Article100 1977-05-18 2 Reuter LONDON, Tues. The Bank of England intervened in the money market to counter a shortage of funds by buying Treasury Bills and lending a small amount to one or two discount houses at minimum lending rate, money market sources said. They said secured call moneyReuter - 100 words
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691 1977-05-18 2 Reuter FRANKFURT, Tues. Countries running payments deficits are unlikely to make widespread use of the IMF's planned supplementary financing facility unless it carries "substantially easier conditions than the more conditional, later tranches of the fund's regular credit facilities. This view was expressedReuter - 691 words
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Article318 1977-05-18 2 Reuter LONDON, Tues. Britain plans shortly to draw normally on Its next tranche of the US$3.9 billion (US$9.6 billion) facility from the International Monetary Fund, Treasury sources said. The sources, however, declined to comment on newspaper reports here suggesting Britain will decide to leave unusedReuter - 318 words
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Article107 1977-05-18 2 Reuter VIENNA, Tues. Seven developing countries today signed agreements accepting loans totalling U554.25 million (5510.9 million) from an Opec fund set up to help Third World balance of payments problems. Forty-nine countries have now received loans from the fund financed by Opec. In today'sReuter - 107 words
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195 1977-05-18 2 Reuter LONDON, Tues. The British government is U unching a new form of official bond, £400 million (SSI.7 billion) Treasury stock carrying a variable rate of interest, the Treasury said. The stock will be created and issued to the Bank of England on MayReuter - 195 words
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Article143 1977-05-18 2 AP BUENOS AIRES, Tues. The Organisation of American States (OAS) Economic Committee opened a .week-long conference there today to review economic ties between the United States and Latin America. Trade Ministers and delegates from the 23 OAS member nations, including the United States, areAP - 143 words
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832 1977-05-18 2 NYT BONN: One of the most critical political and economic Issues of the next five years the mounting deficits in many Western countries' social security systems was apparently not mentioned at all during the economic summit In London. Yet the problems areNYT - 832 words
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468 1977-05-18 2 Reuter CHICAGO, Tues. Attorneys for the Hunt family filed three motions in US District Court against the Commodity Futures Trading Commission (CFTC), Including one challenging the concept of position limits. The motions, a further development In litigation between the CFTC and the HuntsReuter - 468 words
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374 1977-05-18 2 AP TEGUCIGALPA (Honduras), Tues. The destructive coffee rust that invaded Nicaragua six months ago appears to have spread into neighbouring Honduras, coffee officials here report. The rust has damaged coffee plants in a region near the town of Slguatepeque, some 150 km north of here,AP - 374 words
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Article208 1977-05-18 2 AP BRUSSELS. Tues. Common Market agriculture ministers have extended their ban on herring fishing in the North Sea by one month, until the end of June, granting only one minor exception to the Dutch. The ban included the west coast of Scotland. The Dutch were allowedAP - 208 words
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Article138 1977-05-18 2 AP NEW YORK, Tues. The New York Post reported yesterday that its circulation rose by 122,000 to a total ol 618,973 in the past two months. Publisher Rupert Murdoch took over the paper last November, and on March 25 the Long Island Press folded, leavingAP - 138 words
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295 1977-05-18 2 UPI NEW DELHI. Tues. A spokesman of the European Economic Community said yesterday, "freedom In India is inseparable from freedom in Europe." EEC vice-president Wilhelm Haferkamp told a news conference, "we in Europe have been deeply impressed with the way In whichUPI - 295 words
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128 1977-05-18 2 AP HOUSTON, Tues. The Soviet Union and the United States have signed an agreement that could lead to the first international space station, a spokesman for the Johnson Spacecraft Centre said yesterday. Officials said the agreement is designed to extend the partnership that resulted inAP - 128 words
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265 1977-05-18 3 AP NEW YORK, Tues. The Liberian Shipping Council has called for an Inspection programme, to weed out aging and unsafe vessels that fly the Liberian flag. The West African Republic Is the home In name of one of the world's largest merchantAP - 265 words
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Article227 1977-05-18 3 Reuter AMSTERDAM, Tues. The Dutch Central Bank said it will limit the growth of short-term credits bv banks to the private sector and tong-termjlendlng, in as far as this is not financed by capital market funds, to 121/2 per cent In 1977. If the banks collectivelyReuter - 227 words
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709 1977-05-18 3 AS S.E.C. STARTS PROBE INTO CORPORATE PAYMENTS... WASHINGTON, Tuesday NYT THE chairman of the Securities and Exchange Commission expressed concern yesterday that confidence in American business would be further and unjustifiably undermined as the agency oegins to open its investigatory files onNYT - 709 words
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Article, Illustration450 1977-05-18 3 WASHINGTON, Tuesday Reuter PRESIDENT Carter's plan to give cash rebates to Americans who buy fuelefficient cars will Involve difficult negotiations with overseas countries. Treasury Secretary Michael Blumenthal said yesterday. He told the House of Representatives Ways and Means Committee that thoughtReuter - 450 words
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231 1977-05-18 3 AP NEW YORK, Tues. Christie's lost the first round yesterday in its battle with Sotheby's for supremacy in the International art sale world. Staging an auction in America for the first time, Christie's put 50 impressionist and post-lmpresslonlst pictures up for auction In NewAP - 231 words
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884 1977-05-18 3 WASHINGTON, Tuesday NYT HIGH-LEVEL officials In the Cartel Administration have reached tentative agreement on a national welfare plan that, they believe, would provide people unable to work with an adequate Income while offering those able to work financial incentives to do so. In addition,NYT - 884 words
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267 1977-05-18 3 Reuter AP WASHINGTON, Tues. The United States House of Representatives gave final approval yesterday to a Bill cutting taxes for 48 million low- and middle-Income couples of Individuals and simplifying tax returns for 95 per cent of Americans. The vote was 283 to twoReuter; AP - 267 words
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Article97 1977-05-18 3 Reuter LONDON, Tues. British Energy Secretary Tony Benn has awarded 14 onshore licences authorising exploration for petroleum oil and gas, the energy department said. Licences have been awarded to Consolidated Oold Fields Ltd for an area In North Yorkshire and Cleveland, Conoco Ltd has been awardedReuter - 97 words
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Article54 1977-05-18 3 ZURICH, Tues. Switzerland's foreign reserves declined 679.1 million francs to 12.50 billion in the week ended May 13, the National Bank said. The decline partly reflected dollar sales in connection with the bank's capital export conversion rule and also dollar transfers to the Federal Government for Investment purposes,54 words
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Article63 1977-05-18 3 Reuter WASHINGTON, Tues. The Treasury Department said yields rose to the highest levels since last October at yesterday's regular weekly auction of three-and six-month treasury bills. The average yield on the three-month bill rose to 4.996 per cent from 4.822 per cent the previous week, andReuter - 63 words
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146 1977-05-18 3 Reuter PARIS, Tues. French public borrowers raised about US$2 billion (Sss billion) on international markets In the first four months of this year compared with US$4 billion In the whole of last year. Credit Lyonnals chairman Claude Pierre-brossolette said. He told Le Monde InReuter - 146 words
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Article41 1977-05-18 3 AP SAN JOSE (Costa Rica), Tues. The value of Costa Rica's 1976-1977 coffee crop is double last year's record, the Government said yesterday. This year's crop Is worth US$36O million <SsBBs million) season's $148 million. It reported. APAP - 41 words
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Article, Illustration294 1977-05-18 3 BONN, Tues AP Reuter ECONOMICS Minister Hans Friderichs acknowledged that West Germany's 1977 economic growth rate may fall short of the five per cent forecast by Chancellor Helmut Schmidt at last week's London summit talks. But he insisted thatAP; Reuter - 294 words
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341 1977-05-18 3 AP Reuter WASHINGTON, Tues. Despite a decline in car production, the United States' industrial output Increased eight-tenths of one per cent in April, the third month of healthy growth, the United States Government reported yesterday. The increase In industrial output compared with gains of 1.4AP; Reuter - 341 words
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Article110 1977-05-18 3 Reuter LONDON, Tues The index of Britain's retail sales by volume, seasonally adJusted, was a provisional 104 In April (base 1971), compared with a downward revised 10T1 in March and 108.8 In April last year. Trade Department figures show. Volume of trade has been low allReuter - 110 words
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Page 2 Advertisements
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Advertisement333 1977-05-18 2 2 remarkable accounts of the Japanese Occupation SYONAN MY STORY Mam or u Shinozaki 19 x 13cm; 123 pages; limp; 555.50 The occupation of Singapore was, for those who survived it, a profound traumatic experience. Many, of course, did not survive it at all; and memories of mass murders and333 words
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Page 2 Miscellaneous
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Miscellaneous51 1977-05-18 2 THE WEATHER WEATHER report for 24 hour* prim* to 7.30 p.m. on May 17 at Singapore airport. Maximum Temperature 32.7° C Associated Humidity S5 Minimum Temperature 23.t*C Associated Humidity 92 Hours of Sunshine 9.80 Rainfall in Millimetres Nil Total Rainfall for the Month 90.7 Total Rainy Days for the Month51 words
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Miscellaneous246 1977-05-18 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Serbanika (Malay) (r) 3.30 Diary of Events (Malay) 3.35 General Hospital 4.15 The Birds and the Jet (r) 4.45 Intermission 6.10 P.M. Opening Annoucements followed by Electrical Company 6.30 News in Brief 6.35 One Northern Summer Natural Magnificence Early Musical246 words
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Page 3 Advertisements
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Advertisement323 1977-05-18 3 Many cars offer some of the things a\falvo does. No car in the same class offers all the things aVblvo does. This sounds like quite a claim. But if you check this list against any other car of the same class, you'll find that we're not just making idle talk.323 words
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COMPANY NEWS
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Article189 1977-05-18 4 AS forecast by the directors In the interim report, trading conditions at Gold Coin Improved in the second half-year ended Dec 31, 1976. The Improvement, however, was not good enough to offset the setback suffered during the first half-year. Overall, group pre-tax profit fell by189 words
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Article656 1977-05-18 4 Current Ex Date Total for Total for payment Date payable the year previous year Malayan Cables 10% Apr 15 May 18 10% 8%a 8. Strain (hip 34% Apr 27 May 19 34% 34% Esaoord 13%TE Apr 12 May 20 18%TE 18%TE Eaao Pref. 7%TE Apr 12 May 20656 words
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264 1977-05-18 4 PERAK Carbide is finalising a Mss million four-year term loan to finance Its ferro-sillcon project and provide working capital as part of its loan restructuring programme. This follows the $3 million bridging loan obtained late fast year from Malaysian International Merchant Bankers and the264 words
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Article25 1977-05-18 4 PARIT Perak Holdings will be removed from the official list of the Stock Exchange of Singapore today at its own request.25 words
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Article878 1977-05-18 4 THE current year ending Dec 31, 1977 has started well for Bousteadco Singapore and, barring unforeseen circumstances, the company will be able to maintain a satisfactory level of progress. "Several opportunities are being pursued at the moment with the object of expanding the group's878 words
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Article198 1977-05-18 4 AYER Molek Rubber appears to be moving well ahead towards another promising year judging by Its latest Interim figures. The company, advancing strongly on higher yields and better prices for Its rubber and palm oil products, has turned in a 70 per cent rise in198 words
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COMPANY MEETINGS
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Article21 1977-05-18 4 THE following company meetings are due: May 19, 12 noon. 27th Floor, Ocean Building, Collyer Quay. Singapore.21 words
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Article21 1977-05-18 4 May 21. 10 a.m.. Registered Office. Foh Chong Building. Room 2, 6th Floor. Jalan Ibrahim. Johore Bahru21 words
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Article14 1977-05-18 4 May 21. 11 a.m., at Rasa Sayang Hotel. Batu Ferlnggl. Penang.14 words
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Article24 1977-05-18 4 May 25. 10.30 a.m., Registered Office, at Messrs Tan Toh Hua Partners, Penthouse Wlsma Mirama, Jalan Wisma Putra. Kuala Lumpur.24 words
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Article16 1977-05-18 4 National Iron Steel Mills Ltd. May 26. 2.30 p.m.. DBS Building, 6 Shenton Way, Singapore 1.16 words
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18 1977-05-18 4 May 27. 10.30 a.m.. Registered Office. No. 31. Shipyard Road, Jurong Town. Singapore 22.18 words
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Article1401 1977-05-18 4 On May 16 TRADING In options on the Chicago Board Options Exchange came to 86,975 contracts on Monday compared with 72,873 contracts on Friday. OPTION JLY OCT JAN STOCK Alcoa SO 8 3/4 UNTRD 58 5/8 Alcoa 60 1 11/16 2 5/8 3 5/8 58 5/8 Am1,401 words
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326 1977-05-18 4 AILING Unlllte Electrical Industries is negotiating for a merger with Philips Malaysia and Malaysian Industrlal Development Finance. The company says in a reply to the Kuala Lumpur Stock Exchange yesterday that there are still some outstanding issues to be resolved. "It may be pointed out326 words
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Article100 1977-05-18 4 Chemical Company Of Malavsia Unaudited pretax profit MsB.2 million ($8.9 million) for the first half-year ended March 31, 1977. Tax $3.5 million ($4.2 million), leaving net profit of $4.7 million (same). Dividends 17Vi per cent (same), payable on July 15 to shareholders registered by June 20. Singapore Land100 words
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1056 1977-05-18 4 M.C. JENSEN - By M.C. JENSEN NYT FOR two decades church and social service groups, serious-minded advocates of reform, and-gadflys who rush from meeting to meeting have sought a greater role in shaping corporate standards and policy. Now with hundreds of 1977 annual meetings of shareholders completed, someNYT - 1,056 words
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Page 4 Advertisements
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Advertisement517 1977-05-18 4 THESE ARE THE BOOKS THAT HITLER BURNED mmm J- v 9 9* kl 3 a;. TSF7 n r-e-w» *t«■ 5 s^l=lll aJHh»i »i »i»[j,. [fs wsa sa s» n JJgf in taT ==i ~L~L Jll a i f 9lf 999 -F'rE M L* if i i «f„ u r* nv517 words
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INTERNATIONAL COMPANY NEWS
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432 1977-05-18 5 ASIAN COMPANIES Reuter HONGKONG. Tues. Hutchison International chief executive Mr. William Wyllie said that despite the anticipated slowdown in Hongkong's growth rate this year, he expects 1977 to be a year of further growth and consolidation for Hutchison. The company earlier reported group attributable netReuter - 432 words
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Article191 1977-05-18 5 Reuter NEW YORK, Tues. The Private Investment Co of Asia (Pica) will be increasingly willing to take equity positions large enough to influence company boards. Pica president Mr. Kerry St Jdhnston said. He told the annual meeting Pica has plans to establish its own offices inReuter - 191 words
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Article54 1977-05-18 5 FRANKFURT, Tues. Norsk Hydro Is raising a 150 million mark 6 3/4 per cent maximum 12 year Eurobond, joint lead manager Commerzbank said. Redemption will be In eight annual amounts after four years of grace. Final conditions will probably be set on May 26. The other lead manager54 words
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Article34 1977-05-18 5 VEVEY, Switzerland, Tues. Nestle said it dropped the word Alimentana from its name. From yesterday its bourse listing will be under the name "Nestle Sa/Unilac Inc" and no longer "Nestle Alimentana Sa/Unilac Inc."34 words
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Article169 1977-05-18 5 Reuter MELBOURNE, Tues. Comalco has decided to defer plans for parlticpatlon in an alumina smelter in the Philippines for at least two years, a company spokesman told Reuters. Comalco was the leader of an international consortium which planned to develop a ASSOO million alumina plantReuter - 169 words
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Article73 1977-05-18 5 PARIS, Tues. Ste Generate has withdrawn its planned US$75 million floating rate Eurobond, for which subscriptions have closed yesterday, bond market sources said. They said the borrower decided not to go ahead following the rise in Eurodollar rates last week. The bond was planned as a seven73 words
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Article48 1977-05-18 5 Reuter ZURICH, Tues. Nippon Telegraph and Telephone Public will float a 100 million franc 5 1/2 per cent 15 year loan at 99 1/4 per cent on the Swiss market from May 23 to 26, Schweizerische Bankgesellschaft said. The loan is guaranteed by the Japanese Government.Reuter - 48 words
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Article53 1977-05-18 5 Reuter MELBOURNE. Tues. National Bank of Australasia reported unaudited group net profit rose to A 520.45 million on revenue of $220.5 million for the first six months ended March 31, 1977 from $16.36 million on revenue of $161.8 million previously. The bank has declared an unchanged interim dividend ofReuter - 53 words
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Article252 1977-05-18 5 UK COMPANIES Reuter LONDON. Tues. Generate Occidental and Cavenham announced that agreement has been reached for Generale to propose offering 155p cash per share for one half of the Cavenham ordinary not already owned by Generale and 42p cash per warrant for half the outstanding'Reuter - 252 words
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Article357 1977-05-18 5 LONDON, Tues A major reorganisation of its top management structure is to be Introduced by Albright and Wilson, the chemical manufacturer, which last month reported record pretax profit of €31.6 minion on a turnover of £285 million. The company, a leading producer of phosphorusbased chemicals and other speciality357 words
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230 1977-05-18 5 Reuter LONDON, Tues. EMI has sold its holding of nearly six million shares in the Prudential Assurance at an average price of 126.5 per share. An EMI spokesman said the shares were part of the assets of development securities which EMI took over lastReuter - 230 words
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Article628 1977-05-18 5 LONDON. Tues. Pre-tax profit for the year to Jan 30, 1977 at Lesney Products the "Matchbox" toy company came to £10.19 million, compared with £6.96 million, (restated). Turnover has risen from £43.52 million, to £56.44 million. In the first 24 weeks profit had advanced from £1.6628 words
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666 1977-05-18 5 ROBERT METZ - NORTH AMERICAN COMPANIES By ROBERT METZ NYT IN LATE 1974 when raw sugar was bringing more than 60 US cents a pound in the spot market, the major processors were riding high. Most of them raised their dividends substantially. And one producer. Holly $ugar.NYT - 666 words
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Article807 1977-05-18 5 Agis Salpukas - IMPORTANT SOURCE OF NEW JOBS By Agis Salpukas NYT FOREIGN investment, particularly by Canadian companies, has become an important source of new Industry and Jobs for parts of New York State, New Jersey and other declining areas of the north-east. Written off by American companies asNYT - 807 words
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108 1977-05-18 5 Reuter FLUOR T)RP said Fluor South-east has received about 5,381,000 shares or about .6 per cent of the outstanding stock of Daniel International through Fluor *s tender offer. Fluor said it has extended Its offer for Daniel shares at $31.20 each until MayReuter - 108 words
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Article74 1977-05-18 5 MOBIL has raised Its offer for Irvine to U*****.1 million, or $38.75 a share, topping the $322.7 million, or $38.35 a share bid of Taubman-TUlen-Irvlne, the James Irvine Foundation said. Under rules set by the foundation, Irvine Co's majority owner Taubman has 24 hours to74 words
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Article56 1977-05-18 5 A US$3OO million seven-year floating rate syndicated loan for the Province of Quebec was signed In London yesterday, one of the managers, Orion Bank, said. The loan will have a lVfc per cent spread In the first two years and 1 per cent In years three to seven,56 words
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Article39 1977-05-18 5 PITTSBURGH, Tues. J.C. Penney expects Improved sales and earnings for the rest of the year. While gross margins continue to Improve In the first quarter, the sales Increase was not sufficient to of/set the upward cost pressures.39 words
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238 1977-05-18 5 Reuter SEARS ROEBUCK'S net earnings for the first quarter this year were U*****.1 million or 97 cents a share on sales of $3.6 billion. This represents a sharp increase of 81 per cent over net earnings of $85.1 million or 54 cents aReuter - 238 words
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Article105 1977-05-18 5 Reuter THE Montreal Urban Community has mandated Chase Manhattan London to form a syndicate to raise a Eurodollar loan of US$lOO million with a total life of seven years, Chase Manhattan said. Interest will paid to a margin of 1 per cent over the London interbank offeredReuter - 105 words
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Article206 1977-05-18 5 Reuter PRESIDENT Carter is expected to recommend tax concessions for company shareholders, but a cutback In some expense account items for businessmen, Senate Finance Committee chairman Mr. Ri ssell Long said. Mr. Long told a major business leaders over the weekend meeting he anticipates Mr.Reuter - 206 words
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Article184 1977-05-18 5 EUROPEAN COMPANIES Reuter ROME. Tues. Chalpnan of state-owned Condotte D'Acqua Mr. Loris Corbi said he plans to pilot a new group salvaging Generale Immobiliare Spa. Mr. Corbl toid an Immobiliare shareholders' meeting the plan will need several months to assemble and Involve the return ofReuter - 184 words
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Article208 1977-05-18 5 Reuter AMSTERDAM, Tues. Gross trading profit of Bos Kalis Westminster group is expected to rise further in 1977 following the 11 per cent rise to 125.6 million guilders last year, executive chairman Mr. Hans Kraaijeveld Van Hemert said. Orders in hand have risen toReuter - 208 words
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Article27 1977-05-18 5 PARIS, Tues. Automobiles Citroen' said after appropriation of 1976 profit of 297 million francs, the carried-forward deficit was reduced to 184 million francs from 481 million.27 words
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532 1977-05-18 5 FT BRUSSELS, Tues. A call for the Belgian Government to reduce the impact of Indexation of wages by cutting inflation has been made by the US Chamber of Commerce in Belgium. In a survey Just published by the chamber. 350 of itsFT - 532 words
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Page 5 Advertisements
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Advertisement99 1977-05-18 5 s? I ifi c Ift i m 1 i u Lunch or dine in a grill room that savours of Olde England with food just as savoury. The Stables an ideal place to combine business with pleasure. Cosy and private, with English-manner service too. Chef's Specialities Lobster Clarence—lobster slices on99 words
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Article2155 1977-05-18 6 1577 High Low Company La»t Safe +orGr'i Gr'» Net div Div y'ld P/E Vol c'vr High Low 8ECTION ONE INDUSTRIALS 46 33 04 76 12 01 98* 63 219 $92 136 127 204 58 212 57 155 152 182 350 Aema Acma A Alcom Allied Choc Bala2,155 words
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Article1490 1977-05-18 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett Big Board1,490 words
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Article1365 1977-05-18 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1.000 units unless otherwise specified INDUSTRIALS Ajinamata (2 058) XD. AlCam (1 808 1 058). A.R.I. 10.6381,365 words
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Article57 1977-05-18 6 STRIKING prices of the ttock options officially listed on the Stock Exchange of Singapore, (he periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. DBS (June *3.90) (0.02B). Inchcape (June $2.40k (11.038 0.065). Pan Electric (June t2.10) (II.04S). IE57 words
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Article154 1977-05-18 6 SINGAPORE UNITTRUST INCOME BOND UNIT (Muuirn' price* for May 18) (Current price*) INCOME BOND .105 1.11 The Commerce 1.63 1.72 xd MARA BUMIPUTRA FI ND The Saving Fund 0 89 S'pore Prog Fund O.TO 0 94 0 85 (Manager*' price* for May IK) Spore Security l.»l Fund 1.44154 words
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Article135 1977-05-18 6 Orient Leasing 8 1/4% 1982 (50.000) (1018 101HS) 5% T F 1/3/78 (250.000) (104.658) 5 1/2% 1/4/78 (250,000) (101.458 101 555) 5 1/2% 15/4/78 (250,000) (101 358 101.555) 5 1/4% 15/7/78 (250.000) (101 458 101.555) 4 3/4% 1/5/79 (250,000) (100.708 100 80S) 7% 1/7/79 (250,000) (104.658) 5 1/4% 15/10/79135 words
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Advertisement21 1977-05-18 6 f i 1 7 R w A itPENGUW *ngjn (If M I J I rpf. n. m w v V m21 words
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Article, Illustration494 1977-05-18 7 SHARE price* fluctuated irregularly in selective trading at the Stock Exchange of Singapore yaaterday. An initial attempt at rally drew forth •oilers in numbers with the result that moot of the volatile issues had their earlier, gains turned to loeoeo. Looking at the market broadly, investors and speculators,494 words
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Article516 1977-05-18 7 THE Kuala Lumpur stock market turned lower under the renewed weight of profit-taking and short selling yesterday as Monday's feverish advance petered out. Apart from a slight upturn in the early morning, prices ruled easier for the better part of the day. Traders were clearly more concerned516 words
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INTERNATIONAL STOCK MARKETS
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Article358 1977-05-18 7 HONOKONO: The market eased further on lack of Interest and news In quiet, featureless trading, dealers said on TuesHang Seng Index cloeed 1.73 lower at 447.12. Sentiment may also have been affected by rumours of further Hongkong dollar denominated offshore bond Issues, they said. Jardtas Mathssaa fell HK 30358 words
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Article464 1977-05-18 7 TOKYO: Prices declined slowly throughout the day in very limited trading, in the absence of fresh factors, dealers said on Tuesday. The Dow Jones average fell 7.70 to close at 5,036.81 with volume 160 million shares. The New Index closed at 377.57, down 0.96. Electrlcals and other blue chips464 words
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Article376 1977-05-18 7 SYDNEY: The market closed mixed, after steadying from a weak opening, dealers said on Tuesday. The Sydney All-Ordinaries Index rose 0.80 point to close at 482.25. BHP rose 12 cents to $6.76, and Woodside Burmah was active and rose three cents to 90. Kathleen Investment!, Pancoatinental and CBR firmed.376 words
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Article154 1977-05-18 7 MANILA: The market closed mixed, with commercials rising slightly while oils apd minings eased, dealers said on Tuesday. Turnover rose to 2.31 million pesos from Monday's 2.17 million. Oalners Included Pico? A and PLOT, while Atlas Cob A and B, Meralco, Philex A. Oriental A and Seafreat lost ground.154 words
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Article95 1977-05-18 7 MAT IT BahU Asia Fibre m -4 Bangkok Bank 296 unch Bangkok Invest. m ♦1 Bangkok-Metro-politan Bank Bata 441 unch Bar 11 Jucker 290 Charoong Thai unch Wire 196 Dumex Dusk Thanl Tat* Merlin First Trust Indo-Thal Ind (atrial Finance Corp HIS unch J And J Ho Jalaprathan Cement95 words
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Article293 1977-05-18 7 AMBTERDAM: The market ruled generally firmer lnequlet trading on Monday, dealers said, with Dutch Internationals led by Uaiievsr. Only Hoogovens edged lower. Elsewhere, gains were led by KLM and Pakhoed. The Star!a group was 3.50 guilders higher after revising upwards Its profit forecast for 1978. ABN, Elsevier and Amfas293 words
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Article175 1977-05-18 7 BRUSSELS: The market was mixed with an easier bias In quiet trading, dealers said on Monday. Intercom and Uaioi Min tare firmed while Sollaa, Aaturienne, Cockerill and Momum Ml. UK issues eased. Germans generally fell more sharply. Dutch and U8 stocks were narrowly mixed, while most Frencti shares, with175 words
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Article305 1977-05-18 7 FRANKFURT: Most leading shares closed up to five marks lower on large sales In dull trading, market sources said on Monday. Manaeemaaa fell 4.80 marks, electrical* and auto shares lost up to 4.50 marks (Siemens, BMW). Banks (ell four marks, led by Deutsche Bank. Stores and engineerings fell 3.50,305 words
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Article146 1977-05-18 7 MILAN: The market closed mostly easier In slack trading, dealers mid on Monday. Aak and Flat gained slightly against the trend, while both Pirelli, both Olivetti, Moated lean and Snia Viscose lost ground. Financials, banks and Insurances also fell. Bonds were steady In thin trading. MAY l« Lire Anic146 words
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Article332 1977-05-18 7 PARIS: Trading on Monday was thin ahead of Tuesday's meeting of left-wing leaders, although some shares, particularly Ualaor, Lafarge and Club Medlterranee consolidated last week's gains. Tho—fn-Brandt and Air Liquid* both lost ground despite announcing higher turnover for the first quarter of this year. American stocks were mixed, oils332 words
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Article272 1977-05-18 7 ZURICH: Market closed slightly higher In quiet dealings, dealers said on Monday. Leading banks continued their recovery, led by Lea. In otherwise little changed flnanclals, Oerlikon-Buehrie met Increased demand. Insurances and Industrials were slightly Irregular, with Ciba-Gelgy, Hermes bearer. Alusuisee bearer and Sulxer registered edging higher, while Saados and272 words
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Article386 1977-05-18 7 JOHANNESBURG: Gold shares were barely steady toward the close after the slightly lower London morning fixing, dealers said on Monday. Financial minings were firm with Johnnies 50 cents up at 2400 and Aafioa five cents higher at 405. Elsewhere, De Bern gained a net three cents to 440. Coppers386 words
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Article289 1977-05-18 7 TORONTO: Share prices closed higher In moderate trading on Monday. Advances led declines 205 to 188 and the composite Index rose nearly three points. Federal Pioneer A. $1 00 lower at 22, Advocate Mine*, off five cents to $3.55 and Caaadiaa Hydrocarbons, down 1/4 to 9-1/8, all reported 'depressed289 words
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Article1098 1977-05-18 7 NEW YORK: Strength In leading glamour stocks helped lift stock prices higher In active trading on Monday. Institutional liquidation of glamour stocks such as Eastman Kodak and International Business Machines has weighed heavily on the Dow Jones Industrial Index recently and many of these stocks are again beginning1,098 words
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Article69 1977-05-18 7 FINANCIAL TIMES INDUSTRIALS Monday 466.7 Friday 467 8 Week ago 454.2 DOW JONES AVERAGE INDUSTRIALS Monday 932.50 Friday 928.34 Week ago 933 09 LONDON DOLLAR PREMIUM Monday 120«4 to 120*. Friday 120'* to 120S H.K. HANG SENG Monday 448 85 Friday 451.29 Week ago 448 .37 SYDNEY INDUSTRIALS Monday69 words
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Article83 1977-05-18 7 Reuter LONDON. Tues. The National Development Bank of Argentina has signed an agreement with a group of banks for a US$lOO million five year Euroloan. the Argentine Embassy said here. The loan carries interest at 1V« per cent over London interbank offered rates and hasReuter - 83 words
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Article44 1977-05-18 7 Reuter DUESSELDORF, Mon. The Mexican state electricity concern Comlslon Federal de Electricidad (CFE) plans to raise a 100 million mark Eurobond, probably with a fixed seven year maturity and an eight per cent coupon, lead manager Westdeutsche Landesbank Girozentrale said. HeuUrReuter - 44 words
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Page 7 Advertisements
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Advertisement294 1977-05-18 7 T. Yes, Penguin books are not to be found in any ordinary shop. ®in little road-side stalls. Heavens, certainly not in the isar ma!am! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational quite unlike the type that merely appeals to294 words
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COMMODITY REPORTS AND PRICES
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Article710 1977-05-18 8 OPENING quotations In the Singapore rubber market yesterday were marked down half a cent following lower London advices. Prices fell to 194.25 cents traded for June on lack of buying Interest and insufficent overseas orders, dealers said. Towards the morning close prices recovered marginally on710 words
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Article27 1977-05-18 8 Rubber: May 17 Singapore: June 195.25 eta (unchanged) Malaysia: June 196.50 cU (up 0.25 cU) Tin: *1,465 (unchanged) Official offering: 231 tonnes (down 26 tonnes)27 words
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Article280 1977-05-18 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut OH: Bulk $100 sellers, old drum $105 sellers, new drum >115 sellers Copra: Mixed (loose) UK/Cont $63 buyers. Pepper: Muntok ASTA white f o b. 100% NLW $385 sellers. Sarawak white fob 96% NLW $365 sellers. Sarawak280 words
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Article119 1977-05-18 8 THE following palm oil prices were quoted in London on Monday. The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated. Monday Pre*. Malaysia 5% ffa bulk Jly/Aug 664 sir 670 sir Sumatra 5% May 677.50 sir 980 sir June 670 sir119 words
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Article97 1977-05-18 8 R.A.S. (Current Mth) Buyers Seller* (ceau per kg) July (Forward Mtk) Bayer* Seller* (cMtopwkf) SSR20 (1 ton Pallet) 192 50 193.50N 194.00 195.OON SSR50 (1 ton Pallet) 190.00 191 00N 191.50 192.SON MRELB SM 5CV SM 5L SM 5 SM 10 SM 20 SM 50 (1-ton Pallet)97 words
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Article265 1977-05-18 8 IN the Singapore gold market yesterday the kilobar was traded In the range of 3911,795 to $11,820. The loco London gold remained still at U*****.80/ 148.20. The London morning fix was U*****.75, up 10 cents on the previous fix. Source: Singmas Retail prices per tael quoted by the Singapore265 words
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Article125 1977-05-18 8 HONGKONG, Tues. Cotton futures closed mixed, with December and March rising 0.24 US cents, while other months lost 0.08 to 0.37 cents, dealers said. Late trade support lifted fjrices from the opening ows to around their highest for the day, while total turnover rose to 187 lots from125 words
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Article238 1977-05-18 8 THE Straits tin price In Penang yesterday was up $5 to $1,465 on an official offering down 26 tonnes to 231 tonnes. In LONDON yesterday morning, tin prices were steadily maintained, closing with gains of about £12 for cash and €5 for Three Months In the standard contract.238 words
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Article304 1977-05-18 8 LONDON, Tues. Copper wlrebars closed the morning with minor gains at £2 per tonne for cash and £1 for Three Months. Early pre-market strength reflected the overnight movement at New York with Three Months trading upto £857 per tonne before pricing sales pared the position to £851. Sales of304 words
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Article97 1977-05-18 8 LONDON. Tues. Zinc closed the morning with losses of £2.25 for cash and £2.75 for Three Months. Values were steady on the early pre-market reflecting copper but lost ground subsequently In sympathy with lead, dealers said, fhree Months traded from a pre-market high of £370 down to a ring97 words
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Article76 1977-05-18 8 LONDON, Tues. Lead finished the morning with losses of £2.75 per tonne for cash and £3 for Three Months. On Monday afternoon, lead closed with gains of £1.25 for cash and £0.25 for Three Months. The market retained a steady undertone, reinforced by the tight nearby position and Continental76 words
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Article308 1977-05-18 8 LONDON. Tues. Futures closed the opening call with gains against last night of £75 to £38 per tonne after opening around £100 up In early trading. Lots traded totalled 124 and the market tone was barely steady. July, after gaining around £100 earlier, eased to close £75 up to308 words
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Article218 1977-05-18 8 CHICAGO. Tues. Soybean futures yesterday closed sharply higher In the spot month but down In most other positions. May closed with a gain of 27 1/2 cents a bushel and July was up four cents. Other months lost eight to 4 1/4 cents. The May strengthened by commercial buying218 words
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Article145 1977-05-18 8 CHICAGO, Tues. Wheat futures yesterday were narrowly mixed around midsesslon, ranging as much as two cents lower In most months to up to 1% cents higher in the deferreds. Small losses appeared in initial dealings as declines in soybean futures helped spur speculative selling and commercial selling appeared. Downward145 words
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Article198 1977-05-18 8 LONDON, Tues. Silver closed the morning 0.3 pence per troy ounce higher to 0.5 pence lower. Prices held steady aided by the stability in gold and lack of any undue pressure to sell, trade sources said. Trading Interest was again light with carries accounting for the bulk of the198 words
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Article315 1977-05-18 8 LONDON, Tues. Terminal sugar registered opening call losses from last night of €2.2<W March at £1.25) per tonne, with levels placed marginally below the kerb. The market was quiet. Dealers attributed the continued decline to disappointment over the lack of progress at the' Geneva conference and generally depleted offtake315 words
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Article214 1977-05-18 8 BANGKOK, Tues. Indicative prices for rice quoted In Bangkok are: (US dollars per tonne fob basis Bangkok) White Rice 100 per cent Ist class 289 100 per cent 2nd class 274 '.00 per cent 3rd class 270 5 per cent 259 10 per cent 237 IS per cent 234214 words
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MONEY AND EXCHANGES
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Article553 1977-05-18 8 THE Singapore foreign exchange market saw sluggish and quiet trading yesterday. This was because of the absence of significant numbers of dealers who are away to attend a two-day forex congress In Montreux, Switzerland. Against the Japanese yen, the market saw the US dollar weakening by 15 Eoints during553 words
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Article164 1977-05-18 8 Asian rates ASIAN currency deposit Interbank rales u at cloae on May n US Dollars (Spat) Offer 1 W 7 days 1 mtn 2 mths 3 mths 8 mths 9 mths 12 mths .57/16 5 9/16 .53/4 .5 15/16 .63/M .67/16 •6V16 515/16 57/16 55/B 513/16 61/16 6V16 67/16 Sw.164 words
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Article40 1977-05-18 8 RANOE of price* offered by discount houses on May 1? Overnight 2H to 3H Call deposit 3% Closing Buy Selling 3-month Treasury bills 3 2* 3-Month Bank Mils 41/1< 315/16 3-Months CD 4H 4 3/16 •-Month CD 4S 4*40 words
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Article119 1977-05-18 8 Euro rates LONDON, Tues. Turnover in Eurodollar deposit trading was small reflecting the forthcoming forex conference In Montreux, dealers said. Time deposit rates held basically steady apart from the Three Month rate which was slightly higher because of the Friday end of period technicality. Day to day rates were tit-119 words
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Article321 1977-05-18 8 NEW YORK, Tues. The dollar closed yesterday slightly weaker amid pro-fit-taking after Friday's rise which followed the Increase in US bank prime lending rates to 6V» per cent dealers said. Trading, however, was very light with no measurable Impact from news US Industrial production growth slowed to 0.8321 words
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Article138 1977-05-18 8 LONDON. Tues. Major currencies are opening quietly In Europe with little Initial movement In most exchange rates. Sterling traded at $1.7189/91 against 1.7186/88 overnight. The Canadian dollar jumped to 95.46/49 US cents from 95.34/38 after news of fresh Canadian Eurocurrency borrowing operations. The US dollar was quoted unchanged at138 words
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Article150 1977-05-18 8 TOKYO, Tues. The dollar for overnight delivery closed higher In quiet trading at 277.70 yen, up slightly from 277.50 at the opening and 277.55 at yesterday's close, dealers said. The US currency hovered around the opening level with both buyers and sellers reserved, they said. At one stage the150 words
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Article122 1977-05-18 8 HONGKONG, Tues. The US dollar firmed to a late HK*4.6750/70 from yesterday's late 4.8695/0715 on commercial demand In moderately active trading, dealers said. The Interest rate differential may also continue to favour the US unit, they said. The US unit was generally lower against continental European currencies, easing to122 words
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Article57 1977-05-18 8 Minimum lending rates (in acbc 6*« Algemene Bank 6*« Citibank 6*4 Bangkok Bank 7 HSBC 7 Bank of America 6*» Indosuez Bank of China... 7 Malayan Banking Bank of Tokyo Mitsui Bank 6 1 Bank Negara OCBC 6 X Indonesia 7 OUB 6*4 Chartered Bank 6*. UCB 7 Chase Manhattan57 words
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Article53 1977-05-18 8 AUSTRALIA/NZ exchanges quoted on May 17 Australia: Sterling 0.6455 0.6386 US dollar 1.1058 1.1010 Ninety-day air mail buying rates: Sterling 0.6636 US dollars 1 1308 Ninety-day forward buying rates: Sterling 0.6420 US dollars 1.0941 New Zealand: Sterling 0.5595 0.5564 US dollar 0.9664 0 9564 Ninety-day forward rate: Sterling 0.568053 words
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Article41 1977-05-18 8 ZURICH exchanges closing quotes on May 16 US 2.5257-5264 UK 4.3410-3435 Can 2.4075-4090 W Germ 106.87-94 Neth 102.55-76 France 50.9397 Belg 6.98'/«-99 Denm 41.98-42.01 Norw 47.79-82 Swed 57.86-90 Italy 0.2849-2851 Austria 15.02-04 Port 6.52-54 Spain 3.66*-67 Arg 0.65-80 Japan 0.90%-91%41 words
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Article32 1977-05-18 8 FRANKFURT exchanges opening quotes on May 17 US 2.3604/14 Can 2.2515/35 UK 4.055/065 Neth 96.02/12 Swltz 93.48/58 Italy 2.661/671 France 47.63/73 Norw 44.67/77 Belg com 6.527/537 Belg fin 6.520/545 Japan 0.8505/1532 words
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Article282 1977-05-18 8 LONDON Eurobond prices quoted on May IT Straights Bid Offer Austria 8*4 90 101'* 101% Bell Canada 8% 86 104% 105% BFCE8%83 101* 102 97% BrzzH9'«84 97-4 Can Pacific 9'i 83 103% 104% Credit National 8*86 98'. 98* ECSC983 102% 103% EEC 8* 82 100% 101* EEC 7*282 words
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Advertisement305 1977-05-18 8 i M tw W > k > f v stocks THE TIMES ATLAS of CHINA TIMES DISTRIBUTORS SON. BHD., MAIL ORDER DIVISION, TIMES HOUSE, RIVER VALLEY ROAD, SINGAPORE S. PIMM Mod ma copy/coptM of THE TIMES ATLAS OF CHINA. I mclom Choquo/Monoy Order for post frM. NAME $125/The Times Atlas305 words
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TRANSPORT AND COMMUNICATIONS
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Article, Illustration997 1977-05-18 9 RON COCKING - TOKYO'S vast new international airport has cost nearly £500 million (552,000 million) and much bloodshed. Leftwing students and displaced farmers are just the symptoms of the deeper discontent that has long kept Nerita out of action. Some respected Japanese observers think it will neverFT - 997 words
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180 1977-05-18 9 Reuter WASHINGTON. Tues. Emergency inspections on Lockheed L-1011 jet airlines were ordered last month following a malfunction aboard a Delta airliner in flight, the United States Federal Aviation Administration disclosed yesterday. The FAA said it issued an emergency airworthiness directive on April 15 requiringReuter - 180 words
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Article188 1977-05-18 9 AP LONDON, Tues. Chartering activity yesterday centered on the North American grain trades. The general rate structure continued steady. The overall market situation remained such that inquiry developed at Just sufficient pace to offset any decline in payments to shipowners. US Gulf grain shippers covered 59,000 tonnesAP - 188 words
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Article95 1977-05-18 9 Reuter WASHINGTON, Tues. The State Department said yesterday that negotiations on future control of the Panama Canal are expected to resume within the next few days. The last round of talks in the negotiations, Initiated more than 10 years ago, began here last Monday and were adjournedReuter - 95 words
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Article, Illustration308 1977-05-18 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barguzin (0600) (Subject free board) 19 Bei Shan (HPVX) (0830) 29/30 Bunga. Tanjang (1500 after Pleiades) (Class I on board) (LVL T/L) 35/36 Centaur (1330) 44 Maijln (after Idaho) 12 Maren Maersk (0600) 31/32 Samulun (0600 21 East Strathlomond (after Ellen Bakke) 6/7308 words
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Article137 1977-05-18 9 LUFTHANSA German Airlines has taken delivery of its fourth Airbus A-300 B2 in Frankfurt. Since the introduction of the Airbus in April and May 1976, on Lufthansa's domestic and certain European routes, the three Airbuses have flown 6,555 flights and carried more than a million passengers137 words
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310 1977-05-18 9 DATA General Corporation has announced a new generation of low-cost computer systems for small to medium sized businesses which can lease them for as low as $3,000 monthly. The family, known as the CS/40, consists of three models priced between $75,000 and $200,000. The range310 words
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Article577 1977-05-18 9 ARRIVALS Service Local Operator Number Tim* > From TMA TL304B 0530 TPE MAS MH682 0810 KCH CAL CI816 1000 HLP CPA CX710 1000 HLP SIA SQ211 1015 HLP GIA GA980 1030 HLP THAI TG423 1035 BKK THAI TG981 1050 BKK GIA GA908 1100 MES PAL PR501 1115577 words
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Article111 1977-05-18 9 UPI TOKYO. Tues. Mitsubishi Heavy Industries. Ltd. said it has signed a contract with Sealand Service, Inc. of the United States to Jumboise four old container ships for the latter. The four vessels, which now can carry 476 con- tainers of the 8x8x35 inch size,UPI - 111 words
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Advertisement158 1977-05-18 9 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times »< BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail Zone Singapore Malaysia. Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding158 words
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Article, Illustration1494 1977-05-18 10 ROBERT BENNETT - By ROBERT BENNETT NYT, AMERICAN banks have been lending huge sums of. money abroad to satisfy the credit demands of underdeveloped countries, but now the pressures are mounting to force a slowdown in an effort to insure against a crisis in theNYT, - 1,494 words
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407 1977-05-18 10 MARK BRAYNE - By MARK BRAYNE Reuter THE East German Government has launched a major campaign to put new life into the country's slowmoving economy. "Scientific-technical pepgress" and "productivity." so national leaders and the state-run press declare, are the two keys that will open theReuter - 407 words
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Article, Illustration1127 1977-05-18 10 JOHN CHERRINGTON - IS MODERN agriculture devoted to quick profits, regardless of the burning up of fuels and other natural resources? One expert says the doomwatchers overstate their case. -By JOHN CHERRINGTON FT THE doom watchers are at it again. They are making our flesh creep, with the prospectFT - 1,127 words
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Article, Illustration985 1977-05-18 10 WAYNE KING - By WAYNE KING NYT THE United States textile Industry, whipsawed by a growing flood of cheap foreign Imports, a powerful union organisational drive and relentless pressure from the Federal Government to spend billions on new safety equipment. Is entering one of the mostNYT - 985 words
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Page 10 Advertisements
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Advertisement182 1977-05-18 10 GAMBLERS HANDBOOK fts W Let* Ca 7 s in fi# 5 ii m w m by E. Lenox Figgis F.C.A. A practical handbook axplainlng how hotting takaa placa on tha world's moat popular batting paatfmaa, Including horaaa, doga, football poola, aportlng avanta, caalno gamaa, auch aa crapa, roulatta, ate., awaopatakaa,182 words
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604 1977-05-18 11 BUSINESS TIMES, Wednesday, May 18, 1977 KUALA LUMPUR, Tues. Malaysia will develop a new strategy and a new orientation to tap the timber market in the United States. This may Involve the Introduction of more species like kapor and kempas, said Deputy Primary604 words
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Article108 1977-05-18 11 THE Singapore Institute of Management has planned a full programme of courses and a seminar for next month. June opens with a seminar on "The Effect Of Organisational Climate On Productivity", led by Mr. John Healy, a psychologist and a partner of Omega Management Consultants108 words
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Article108 1977-05-18 11 THE Comptroller of Income Tax filed a suit in the High Court yesterday against Motorcycle Industries (1973) Pte Ltd for $312,513.18, allegedly being taxes due and unpaid. Bank of Canton also sued Dart Sum Timber (Pte) Ltd for $401,793.70 or damages allegedly due under the terms of a guarantee.108 words
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Article406 1977-05-18 11 AP TOKYO, Tues. China's industrial production, communications and transport continued to rise In April, the official Chinese Hslnhua News Agency said yesterday. Credits for Increased industrial output, and advances in communications and transport fields were given to "a leap forward taking shape" on China'sAP - 406 words
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Article186 1977-05-18 11 WASHINGTON, Tues. India's 1976/77 wheat production Is estimated at between 26.8 and 27.3 million tonnes compared with output of 28.3 million tonnes In 1975/76, according to the US Department of Agriculture. This estimate follows extensive field trips through major wheat producing states during March and April186 words
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Article47 1977-05-18 11 BEECHAM Pharmaceuticals will officially open the extension to its factory on May 31. Work on the extension commenced In mid-1975, and the new plant has been In production since last August. The guest of honour will be the Minister for Health, Dr. Toh Chin Chye.47 words
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277 1977-05-18 11 Reuter NEW DELHI, Tues. A court has been asked to wind up the small car factory of Mr. Sanjay Gandhi, •on of former Indian Prime Minister Indira Gandhi, because it was insolvent, Samachar News Agency said. A petition by a shareholder of MarutiReuter - 277 words
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Article111 1977-05-18 11 Reuter WELLINGTON, Tues. New Zealand had a visible trade surplus of NZ564.5 million (*****.2 million) in April compared with deficits of $53.5 million in March and $38.1 million In April 1976, government statistics showed. Exports in April totalled $333.5 million, compared with $266.1 million In MarchReuter - 111 words
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1347 1977-05-18 11 Reuter SOUTH-EAST Asian countries have embarked on ambitious housing schemes to provide better homes for millions of their people still living in over-crowded slums. Governments In the region are pouring billions of dollars Into huge housing projects to keep pace with their countries' economicReuter - 1,347 words
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356 1977-05-18 11 Breakthrough in SovietJapanese fishery talks AP MOSCOW, Tues. The Soviet Union &h<f Japan reached an "agreement in principle" today on most major points In their lengthy negotiations on a new provisional fishing treaty and "we can see now a bright picture for the end of the negotiations," a Japanese sourceAP - 356 words
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Article232 1977-05-18 11 LESNEY Products of the UK, known as the manufacturer of "Matchbox" toys, Is planning to set up an office here to push the sales of Its products In the Asean market. This was revealed by Mr. David Leeman, Lesney's chief executive for Pacific operations. In an232 words
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Article139 1977-05-18 11 THE Telecommunication Authority of Singapore has commissioned a new automatic mobile telephone service to replace the present operator assisted system. The new system Is to provide an upgraded telephone service for motorist users who are now assured of prompt dialling access to Malaysia and all parts of the139 words
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165 1977-05-18 11 UPI TOKYO. Tues. Japanese set a new record few travel oVerseas during the 1970 fiscal year ending March 30, with about 2.85 million persons making trips abroad, the government announced today. The United States was the most popular destination, followed by nearby countries suchUPI - 165 words
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Article123 1977-05-18 11 THE Financial Times plans to publish a major survey of the business, economic and political scene in Japan In its July 19 edition. The survey will also look into Japan's trading policies, the problems of finding the right kind of distribution and the relative123 words
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Article46 1977-05-18 11 INTRACO is holding a vodka tasting ceremony at the Singapore Hilton on Friday to push sales of the Russian drink here. Intraco, the agent for the Russian vodka for several years, markets the products through Rotraco, a Joint venture firm between Rothmans and Intraco.46 words
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Article, Illustration557 1977-05-18 11 UPI TOKYO. Tues Expectations are high of the roles Mike Mansfield will play as the 22nd American ambassador to Japan. Japanese Government officials, opposition party leaders and the country's press alike, have praised the former Senate majority leader as "the best equipped AmericanUPI - 557 words
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Article114 1977-05-18 11 ASTEC Toolcraft Pte. Ltd. appears to be expanding its operations and is now looking for more staff to man its machines. The company situated at Third Lokyang Road, Jurong, and which was incorporated on April 21, 1973 wants pantograph, duplicating, milling and EDM machine operators. The company114 words
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Page 11 Advertisements
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Advertisement418 1977-05-18 11 SEE PAGE 5 APPOINTMENTS MARKETING MANAGER R J. Reynolds Tobacco International seeks a Marketing Manager for assignment to a ke> Asian subsidiary. Responsibility includes management of a large range of existing brands and development of a new product programme. Ideal candidate should have minimum of 8 >ears product brand management418 words
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287 1977-05-18 12 NEITHER the commercial banks nor the Monetary Authority of Singapore have reacted particularly warmly to recent reports that a market in bankers' acceptances will be introduced in Singapore. A spokesman for the authority has confirmed reports, current since January this year, that287 words
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Article229 1977-05-18 12 Reuter JAKARTA, Tues. An East Kalimantan official has been charged in court for alleged corruption involving 7,600 million rupiahs (about Ss42 million), the Antara News Agency reported today. The agency said the government prosecutor had demanded a 20-year jail sentence for the chief of theReuter - 229 words
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Article216 1977-05-18 12 JAPAN is considering a higher level of training for Singapore participants under its technical training assistance programme for Asean. "This Is because Singapore Is an exceptional case within the Asean context as Its standard of economy is much more advanced (it enjoys a per capita216 words
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Article153 1977-05-18 12 They don't pay taxes ABOUT 10 Singapore companies are enjoying tax exemptions on profits from their Indonesian investments. Tax exemptions are granted on an ad-hoc basis b£ the Finance Ministry on application and invoked under Section 13/7 of the Income Tax Act which allows the minister to grant exemption on153 words
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Article828 1977-05-18 12 LONDON, Tues. Leading Industrials finished little changed to a shade firmer after earlier gains of several pence had been pared as Initial buying interest faded, dealers said. At 3.00 pm the Financial Times Index was up 1.5 at 468.2. Government stocks rose after news yesterday of a floating828 words
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1077 1977-05-18 12 Move to prosecute Tarling 'highly selective '—counsel LONDON, Tues. Defence counsel for Richard Tarling submitted In a London appeals court yesterday that the move to prosecute the former chairman of Haw Par Brothers International had been "deliberate and strongly selective." Mr Andrew Bateson, Queen's Counsel, alleged an "awful lot" of1,077 words
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138 1977-05-18 12 Reuter MANILA, Tues. The Philippine government Intends to spend 2.07 billion pesos this year on repayment of Its foreign and domestic debts which stood at 26.6 billion pesos at end--1976. the Treasury said. It said this compared with a 1978 projected debt repayment requirementReuter - 138 words
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Article71 1977-05-18 12 JAPAN'S latest move to restrict the country's imports of silk yarns will not affect Singapore because the Republic does not have any silk spinning firm, according to a Singapore Manufacturers' Association official yesterday. He was commenting on Tokyo reports that Singapore was among 20 countries which71 words
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217 1977-05-18 12 UPI TOKYO. Tues. Japanese bankers and their Chinese counterparts have reached agreement that stepped-up financial cooperation Is Indispensable for expanding bilateral trade, according to the economics newspaper Nihon Kelzal. The paper said financial cooperation will be promoted by the "enlargement of the present accountUPI - 217 words
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Article126 1977-05-18 12 Reuter TOKYO, Tues. Japanese exchange banks said they raised the Interest rate for three-morlth dollar Import usance bill by 0.25 per cent and that for four-month bills by 0.125 per cent with Immediate effect. The Increases, following higher US bankers' acceptance rates, brings the rates toReuter - 126 words
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103 1977-05-18 12 Reuter MANILA, Tues. Industry Secretary Vicente Pater no, just back from an official visit to China, said trade between China and the Philippines will reach USSIOO million (Ss2so million) this year. Trade between the two countries stood at $80 million last year and $65 millionReuter - 103 words
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220 1977-05-18 12 THE visiting Mauritian trade delegation hat suggested that Singapore can transfer some of ita labour intensive industries to the island state. Making this suggestion, the delegation leader, Mr. J. Maurice Paturau, said yesterday that manufacturers here should consider this possibility in view of220 words
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205 1977-05-18 12 Reuter MELBOURNE, Tues. Broken Hill Proprietory and Esso Exploration, partners in a Bass Strait venture, have struck oil in their Cobia No Two well and then say that the reservoir is capable of commercial development. The two companies reported to the stock exchangeReuter - 205 words
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Article342 1977-05-18 12 UPI TOKYO. Tues. Two of Japan's leading car manufacturers today reported a drop In exports In April. Export sales at Nissan dropped 6.6 per cent to 90,810 vehicles compared with March while Toyota suffered a fall of eight per cent to 112,700 vehicles. But comparedUPI - 342 words
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294 1977-05-18 12 Reuter MANILA, Tues. Globtlk Tankers Ltd., owners of the oil tanker Globtlk Venus which figured in an International controversy when its 28 Filipino crew members staged an onboard strike last year. Is seeking 4.53 million pesos (551.51 million) damages over the Incident, theReuter - 294 words
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Article199 1977-05-18 12 Reuter BOMBAY, Tues. Bombay Port Trust authorities today called In the Indian navy to help unload three oil tankers stranded by an eight-day-old strike by some 3,500 crane drivers and shore crew. Port Trust officials said that about 50 vessels were lying idle inside the portReuter - 199 words
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Advertisement346 1977-05-18 12 Good reading on from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with Nixon,346 words
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