The Business Times, 8 July 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, JULY 8, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Lock icon US$ buying spree
      63 1 AP TOKYO Thurs. Japanese banks bought US dollars in a burst of active trading before the close. The dollar finished at 265.425, up from 264.95 Asked whether the central bank actively Intervened on the foreign exchange market yesterday, bank governor Mr. Teilchlro Morinaga replied "the bank of
      AP  -  63 words
    • Article
      Lock icon All the nickel, please
      62 1 AP PERTH, Thurs. The entire output of the proposed US$lOO million (***** million) Agnew nickel project in West Australia will be sold to the United States. The contract, worth at least $400 million, has been signed between Amax Nickel Incorporated of the United States and Agnew's
      AP  -  62 words
    • Article
      Lock icon Kuwaiti reserves jump
      78 1 AFP KUWAIT, Thurs. Gold and currency reserves of Kuwait last year rose 55.7 per cent from U559,600 million (Ss24 billion) to $14,700 million, official statistics showed today. The figures showed that 52 per cent of reserves were long-term foreign Investments including shares and bonds, 24 per cent
      AFP  -  78 words
    • Article
      Lock icon Mission to Bangkok
      64 1 AFP TOKYO, Thurs. A Japanese economic delegation will leave here for Bangkok on Sunday for talks with Thai officials on bilateral trade and economic cooperation, it was announced today. Discussions are expected to centre on Japan's lopsided trade surplus with Thailand at the three-day meeting of the
      AFP  -  64 words
    • Article
      London shares hit
      57 1 LONDON, Thurs. Fears of a British wages explosion today weakened the pound and wiped £600 million (552,500 million) off share values. The Financial Times share index dropped 6.2 to 439.7 after the Transport Union, the nation's biggest rejected further voluntary restraints on pay rises. The pound weakened
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    • Article
      Lock icon Jobless youngsters
      50 1 AP BRUSSELS, Thurs. About two million people under 25 years of age are unemployed In the nine European Common Market countries. That is double the total four years ago. The European Commission, the Common Market executive, has called for member government action to prevent a further increase. AP
      AP  -  50 words
    • Article
      Lock icon Dow Jones
      90 1 UPI NEW YORK, Thurs. Stocks were mixed early today in moderate trading while Investors waited for government reports on money and wholesale prices. Some observers were fearful that the Federal Reserve Board would report a sharp Increase In the nation's money supply In figures to be released later
      UPI  -  90 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      177 1 SHARE prices retreated marginally across a broad front in moderate trading on the Stock Exchange of Singapore yesterday. Towards the close, some shares managed to recover some lost ground as reflected in the Business Times index, which closed 1.26 points higher at 327.66. The Straits Times Industrial
      177 words
    • Article
      In Kuala Lumpur
      110 1 Rises Most active Berjuntal 6.00 1.17 M'sta Weaving 797 000 M. Weaving 1.46 .19 Bandar Raya 459,000 Fusan 1.37 .18 Bovls S E A. 333,000 SEA Corp 3.00 .12 K.L Ind 313,000 Sny Resins 0.93 .11 ToUl Turnover: 5.30 M A.M.Dev. 0.72 •f .11 Total Value: MS8.33
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  • Article
    Prawiro heads team to Tokyo
    300 1 THE Indonesian Trade Minister Dr. Radius Prawiro Is to head the Asean delegation to Japan for talks on economic and trade matters. This was confirmed by Mr. Umarjadl Nyotowljono, director general Asean-Indonesia, who said that his country had been picked to coordinate Asean's relations with
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  • Article, Illustration
    Fraser claim won't stand up to scrutiny
    860 1  -  AUSTRALIAN-ASEAN TRADE JOHN TAN ONG LECK KEONG CRITICISM of Australian trade practices may not be as misdirected as Australian Premier, Mr. Malcolm Fraser, would have one believe. Australia's trade surplus with Asean last year was $945 million which though large exceeds total Imports
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  • Article
    Lock icon CONTINUING DIALOGUE URGED BY MARCOS
    170 1 AFP MANILA, Thurs. President Marco* today proposed a continuing dialogue on problems affecting relations between Australia and tbe Philippines when he received visiting Australian Deputy Prime Minister, Mr. Douglas Anthony. A Presidential Palace announcement said the Philippine President sent the same proposal to the current
    AFP  -  170 words
  • Article
    Unions' view of NWC increase
    743 1 THE SIX per cent wage Increase with full offsetting against all forms of remuneration Is "the best deal" workers can get under prevailing economic circumstances. This Is the general reaction of trade union leaders to the guidelines announced by the National Wages Council for pay
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  • Article
    Haw Par reshuffle to boost financial reporting
    329 1 HAW PAR Brothers International Ltd haa undertaken a major corporate reshuffle to tighten its financial reporting process and to allow it to examine longterm opportunities better. Mr. Stacey Ellis has been appointed (roup chief financial officer in place of Mr. Thomas Kendall and
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  • Article
    MAN is still interested in diesel project
    438 1 MAHCHINWERK Aus-burg-Nuremberg (MAN), a leading West German diesel manufacturer, has Indicated to the Economic Development Board (EDB) that Its intention to participate in a Phllllpplne Board of Investments (BOI) programme for the manufacture of engines, does not affect its proposal to participate In
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  • Article
    Closed door talks minus advisers
    159 1 THE five Asean foreign ministers conferred without their advisers yesterday morning behind closed doors for a frank exchange of views on a wide ranging series of subjects. During the meeting, the ministers discussed AseanIndochlnese relations, the impact of Carter's policies on this region ana other
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      26 1 Get advanced copying technology !l Oversees Stocks P Commodities P 8 Trans port 6 Communications P Features P 1« Local A Oversees News P U. 12
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      0 1 :!,-.>.[^/*~@<"?=~!>{`;&..'%|?,
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      Page 1 Advertisements Column 3
      104 1 for quality gifts and souvenirs I i Selangor Pewter has long been admired by connoisseurs the world over for its elegance and beauty. Individually handcrafted from 97% lead free Straits refined tin,the beauty of quality pewter never dates. Functional as it is decorative, Selangor Pewter is the ideal gift. Selangor
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      Page 1 Advertisements Column 4
      214 1 MANAGEMENT COURSES LEADERSHIP EFFECTIVE MANAGEMENT 5 6 September Singapore 3 4 October Kuala Lumpur Concepts of Leadership, Management Style and Effective Management; Management of Change; Effective Communication; Management Grid; Personal Asset and Liability Matrix. FINANCE FOR NON-FINANCIAL MANAGERS 8 9 September Singapore 6-7 October Kuala Lumpur 10-11 October Penang Accounting
      214 words
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  • OVERSEAS
    • Article
      Lock icon Yen floating at its highest level in 4 years
      748 2 NYT WASHINGTON, Thurs. With little fanfare, the yen is currently floating at its highest level in four years and Japan's Ministry of International Industry and Trade, has just acted to liberalise import restrictions. Michael Blumenthal, United States Secretary of the Treasury,
      NYT  -  748 words
    • Article
      Lock icon French reserves up $5 billion
      140 2 Reuter PARIS, Thurs. French official reserves rose 9.88 billion francs (554.99 billion) to 103.11 billion francs at end-June, the Finance Ministry said. It said 9.10 billion of the rise was accounted for by the half yearly revaluation of gold and currency stocks. The ministry said
      Reuter  -  140 words
    • Article
      Lock icon Retirement fund has stake in South African firms
      295 2 UPI SACRAMENTO, Thurs. Governor Edmund Brown Jr. and other California officials, along with most of the 120 members of the state legislature, belong to a retirement system whose investments Include companies operating in South Africa. The disclosure comes at a time when
      UPI  -  295 words
    • Article
      Lock icon STEEL IMPORTS
      71 2 AP NEW YORK, Thurs. Steel Imports Into the United States rose 637,400 tonnes in May from April, according to an analysis of US Commerce Department data by the American institute for imported steel. Among exporters to the US. Japan was the most active. showing an increase of 317,036
      AP  -  71 words
    • Article
      Lock icon Chinese wheat imports likely to equal '73 level
      217 2 Reuter TOKYO, Thurs. Chineee wheat imports this year arc expected to approach the 1973 record of 7.7 millioa tonnes following a domestic crop depleted by cold weather and drought, the Japan External Trade Organisation (Jetro) said. China has so far this year
      Reuter  -  217 words
    • Article
      Lock icon 'DO NOT ALLOW PRESS TO CONTROL TV, RADIO'
      330 2 Reuter LONDON, Thurs. A British Government commission on the press today called for a reduction in the share of newspaper proprietors in radio and television stations. "Our view is that control over the dissemination of news and opinion ought to be in
      Reuter  -  330 words
    • Article
      Lock icon On uranium trail
      78 2 AFP TOKYO, Thurs Two Japanese nuclear energy experts wiTl leave for Colombia on Saturday to begin geophysical surveys in East Andes In search of uranium deposits. At the request of the Colombian Atomic Energy Corporation, Instltuto de Asuntos Nucleares (lAN), the experts of Japan's Governmental Power Reactor
      AFP  -  78 words
    • Article
      THE TOP HUNDRED EXPORTERS-1976
      609 2 Previous fear's ranking it (hrwi in brackets 1974 197S Cm. £m. 1 (1) British Upland •197 589 2 (2)»CI •22 S84 3 (3) Ford 432 452 4 (7) int. Petroleum t413 27S 5 (4) British St*cl 44« 384 4 (S) GfC 405 315 7 (9) Manty
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    • Article
      Lock icon No change in top three UK exporters
      600 2 FT LONDON, Thurs. British Ley land, ICI and Ford have again filled the three top positions in the 1976 list of leading British exporters. With one exception the same companies which occupied the first 10 places in the 1975 table have done It
      FT  -  600 words
    • Article
      Lock icon Be more decisive, Simonet to EEC
      214 2 Reuter LUXEMBURG, Thurs. The European Economic Community (EEC) must Improve Its decision-ma-king machinery before future enlargement to avoid paralysis, Belgian Foreign Minister Henri Slmonet said here yesterday. In his first speech to the Community's European Parliament as President of the EEC Council of Ministers,
      Reuter  -  214 words
    • Article
      Lock icon Experts pave way for Opec meeting
      227 2 AP STOCKHOLM, Thurs. Technical expert* from the 13 states of the Organisation of Petroleum Exporting Countries arrived here yesterday to prepare for the oil ministers meeting next week. Opec secretary general Ali Mohamed Jaidah brought a 10-member delegation of the cartel's Economic Commission, which
      AP  -  227 words
    • Article
      Lock icon Alaskan oil dilemma in the pipeline
      506 2 AGENCIES WASHINGTON, Thurs. As pumping pressure builds In the United States' new oil pipeline In Alaska, federal officials In Washington are still trying to decide what to do with the oil. By October the pipeline, which opened last month, is expected to be pumping
      AGENCIES  -  506 words
    • Article
      Lock icon Loss of licence: Swiss bank to fight decision
      333 3 Reuter SCHOENANWERD (Switzerland ),Thurs. Overseas Development Bank decided to fight the Swiss Banking Commission's withdrawal of Its licence In the Federal Court of Appeals, Syndlkats chairman. Mr. Werner Eey told the C.F. Bally annual meeting. Mr. Rey, who Is also Bally's managing
      Reuter  -  333 words
    • Article
      Lock icon Record $15b reserves
      84 3 UPI ROME, Thurs. Italy's foreign currency reserves approached a record US$6 bilUen (5514.8 billion) at the end of June, Foreign Trade Minister Rinaldo Ossola said in a speech yesterday. He said this was a $2 billion Increase over May. Loans obtained from the European Economic Community and
      UPI  -  84 words
    • Article
      Argentine surplus
      29 3 BUENOS AIRES, Thurs. Argentina had a 1976 trade surplus of U*****.6 million (552,174 million), compared with a deficit of $985.2 million in 1975, the Economy Ministry said.
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    • Article
      Lock icon Strong yen the forerunner of monetary unrest
      719 3 AFP TOKYO, Thurs. Rise of the yen is good news for Japanese consumers but not for export-oriented businesses, and experts are predicting another International monetary unrest. The Japanese currency's exchange rate started the year at 292.50 yen (512.71) against the US dollar. Since
      AFP  -  719 words
    • Article
      Lock icon Job prospects seem bright in summer
      289 3 UPI MILWAUKEE (Wisconsin), Thurs. The summer employment forecast is bright in most of the industrialised world, the temporary help company, Manpower, said yesterday in Its latest report. Research for the quarter starting July 1 showed that in the United States and Canada hirings are
      UPI  -  289 words
    • Article
      Lock icon Pretoria gold holdings decline
      91 3 Reuter PRETORIA, Thurs. South Africa's- gold holdings fell 0.16 million rand to 286.1 million last week, the Reserve Bank said. Total gold and foreign exchange reserves fell 53.2 million to 721:0 million. The Reserve Bank said the decline of 53.2 million rand In reserves was partly
      Reuter  -  91 words
    • Article
      Lock icon Cathode cheaper
      34 3 Reuter NEW YORK, Thurs. Phelps Dodge Corp, Anaconda Sales, Kennecott Sales Corp and Cities Service have cut their cathode prices to US 68 cents (Ssl .67) from 71 cents effectlve today. Reuter
      Reuter  -  34 words
    • Article
      Lock icon Bonn pins hope on second half
      251 3 Reuter BONN, Thurs. The West German Government expects the currently unsatisfactory level of unemployment and Industrial orders to Improve in the second half of the year, government spokesman Armln Gruenewald said. He said after a meeting of the Cabinet that the position should improve
      Reuter  -  251 words
    • Article
      Lock icon City strike paralyses essential services
      162 3 UPI DETROIT, Thurs. The largest municipal workers strike in the city's history, its second day today, forced Detrolters to cope with mounting piles of garbage, lack of bus transportation and severe cutbacks in virtually all city services. Bargainers for the city and the union representing
      UPI  -  162 words
    • Article
      Lock icon Bonn payments surplus revised
      236 3 Reuter FRANKFURT, Thurs. West Germany had a provisional current account payments surplus of DM1.45 billion (551.54 billion) In May against a downward revised DM9B7 million surplus In April and a DM1,59 billion surplus In May 1976, the Bundesbank said. This compares with the Erovlslonal May estimate
      Reuter  -  236 words
    • Article
      Lock icon Growing danger to open trading system
      292 3 Reuter LONDON, Thurs. Protectionism is »eriou»ly threatening the world's open trading i.vitem, i British minister warned businessmen today. Mr Edansd Doll, Secretary of State for Trade, told a conference on export strategy here that governments had tried to cooperate with one another to create
      Reuter  -  292 words
    • Article
      Lock icon French curbs cause textile pile-up in HK
      487 3 AFP HONGKONG. Thurs. Trade circles reported today that French curbs on Imports have led to the piling up here of a considerable quantity of clothing and textiles desUned for France. This meant losses of millions of dollars In exports, the sources claimed, adding
      AFP  -  487 words
    • Article
      Lock icon EEC urged to stick to MFA mandate
      238 3 Reuter LONDON. Thurs. It is essential the EEC should adhere firmly to Its mandate for the new International Multi-Fibre Arrangement (MFA) negotiations agreed recently by the European Council of Ministers, said lan McArthur, director of the British Textile Confederation. In a speech prepared
      Reuter  -  238 words
    • Article
      Lock icon Ministers switch portfolios
      52 3 Reuter NEW DELHI, Thurs Communications Minister Mr. George Fernandes and Industries Minister Mr. Brljlal Verma, both members of Prime Minister Morarjl Desal's Cabinet, yesterday switched their ministerial portfolios. Mr. Fernandes has taken over the Industries Ministry from Mr. Verma who will now be Communications Minister, an official
      Reuter  -  52 words
    • Article
      Lock icon CONSUMER PRICES ROSE FASTER IN MAY
      218 3 Reuter WASHINGTON, Thurs. The increase in consumer prices In the Industrial world accelerated to an annual rate of 8.1 per cent In May from 8 per cent in April, the IMF said. In its international financial statistics publication it said consumer price levels In
      Reuter  -  218 words
    • Article
      Lock icon Global imports plunge
      79 3 Reuter WASHINGTON, Thurs. The industrial world's Imports fell sharply In April to U5558.29 billion (*****.4 billion) from $65.24 billion In March, paced by sharp decreases in the US, Germany and Japan, the IMF said. In its international financial statistics publication it said US imports fell to $13.45
      Reuter  -  79 words
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      44 2 WEATHER report for 24 boon prior to 7M p.m. on July 7 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity JJ Hour* of Sunshine Rainfall in Millimetres J-J Total Rainfall for the Month 43.2 Total Rainy Days for the Month 4
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      310 2 DIO&TV SINGAPORE 5 3.00PM Opening announcements followed by Housewives' Matinee Nobody Always Wins with English/ Chinese subtitles (Pt. 2 of a Mandarin film repeat) 4.ooDiary of Events (Chinese) 4.osThe Beverly Hillbillies Problem Bear (repeat) 4.35 Intermission 6.osopening announcements followed by Exercise with Gloria 6.30 News in Brief 6.35 December Bride
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      50 3 SEE PAGE 5 Ralnlar National Bank Ptaaaa nota that with affact from Monday, July 11, 1977 our addraaa will ba: SUITE 2003 CPF BUILDING 70 ROBINSON ROAD SINGAPORE 1 REPUBLIC OF SINGAPORE Talaphona: 222 0077 Qanaral 222 7744 Daalar Talax: RS ***** Anawarback: Rainlar Cabla Addraaa: Ralnlarbnk ir« movtno BmniE;
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      Page 3 Advertisements Column 2
      477 3 •*Vi miw MfiiT' r. Ui.% Vi- .flt.urv f w* S^pls Soft Sell Is What You Need We Have It ■P 7 w *w swwrMtwTu «.«> Mr v -TWr.A,> (CONOMT ,'W KItNC You want to project yourself and your company to your many clients and business associates. But you don't want
      477 words
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  • Article
    API forecast still as optimistic as ever
    812 4 ALTHOUGH proven wrong last year. Associated Plastics Industrles's chairman, Tan Sri Talb bin Hajl Andak remains as optimistic as ever about the future of the plastics products group. For the current year ending Dec 31, 1977 he Indicates in his latest annual report
    812 words
  • Article
    DIVIDENDS ANNOUNCED
    379 4 Current Ex Date Total far Total for payment Dale payable the year previous year Tongkah Harbour 12.5%I May 30 JulyS 12.5%I 11% Chin Teck 10% I June 14 July 9 10%1 17.5% Killing hall Tin 200%I June 15 July 11 200%I 200% S.M. Industries 5%TF June 21 July
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  • Article
    Kluang- Rubber acquires dormant company
    165 4 KluangRubber acquires dormant company KLUANO RUBBER, the staid old rubber company situated in Kluang, Johore has recently acquired a dormant company known as Kluang Estates (1977), formerly known as Tiger Trusts. The purchase consideration for all the Issued share capital in the company comprising 3,400 shares of MSI.OO each was
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  • COMPANY MEETINGS
  • Article
    MBF blocks sale of San Imp shares
    460 4 MALAYSIA BORNEO Finance Corporation (M), a 70.3 per cent subsidiary of Pacific Development Credit, has obtained an Interim injunction restraining a nominee company from selling 15 million San Imperial shares, which It believes belong to Mr. Choo Kim San. Replying to string of
    460 words
  • Article
    FELS's $ 17.5 m loan
    200 4 FELS's 17.5 m loan FAR EAST-LEVINGSTON Shipbuilding has granted a $17.5 million loan to Hope Shipping, a subsidiary of Mosvold Shipping of Norway, to finance a drlllshlp. which FELS will deliver this month. The loan, which was reported by FELS in Its annual report for the year ended Dec 31,
    200 words
  • Article
    Lock icon Another summer rally on the cards
    768 4  -  New York By LEONARD STONE NYT THE PROFESSIONALS on Wall Street who usually predict a summer rally are anticipating another one this year which should bring Joy to harried tapewatchers who have been suffering from declining prices through most of 1977 s first half.
    NYT  -  768 words
  • Article
    Lock icon Cummins share sale prompted by peak
    806 4  -  London By ROBERT METZ NYT INSIDERS at the Cummins Engine Co. have recently sold shares In this leading independent manufacturer of dtesel engines for trucks, but there is little Indication that their selling indicates disenchantment with company prospects. On the other hand, such selling
    NYT  -  806 words
  • Article
    K. Tanjong Pau gets off to a good start
    306 4 KUNDONG TANJONG Pau has got off to a good start this year after posting a 48.7 per cent increase In pre-tax profit to M 51.44 million for the year ended Dec 31,1976. Higher output and commodity prices contributed to the buoyant
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  • Article
    CHICAGO BOARD OPTIONS
    1607 4 On July 6 TRADING In options on the Chicago Board Options Exchange on Wednesday came to 94,093 contracts compared with 71,488 contracts on Tuesday. OPTION JLY OCT JAN STOCK Alcoa SO 2 1/4 4 4 3/4 52 1/2 Alcoa •0 UNTRD 3/8 1 52 1/2 Am Exp
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      500 4 TW m r m b r pJ> it 1 vciV' \¥&x |i TO N K V" 17 i MAUtVsiAN BUSINESS, the monthly economic 8c business journal, oilers you in its JULY 1977 issue: 21 YEARS AFTER FELDA comes of age this month. Nearly a quarter million people have been settled
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Daimler – Benz sees little profit change
      235 5 Daimler Benz sees little profit change EUROPEAN COMPANIES Reuter STUTTGART, Thurs. Daimler-Benz parent company 1977 net profit should show little change over last year's 392 million marks, on higher turnover, particularly In the car sector, managing board chairman Mr. Joachim Zahn told shareholders. Oroup sales, including those by foreign subsidiaries
      Reuter  -  235 words
    • Article
      Lock icon Euroloan for RFF
      81 5 Reuter LONDON Thurs. A 46 US$46 million mediumterm Euroloan has been signed In Paris for Rede Ferrovlarla Federal. Citicorp International Group said. Terms and life were not disclosed. Proceeds will be used as couplementary financing to a 111 million French francs French government Insured buyer credit, Citicorp
      Reuter  -  81 words
    • Article
      Lock icon VEBA HEAD FORECASTS LOWER RESULTS
      223 5 Reuter DUESSELDORF, Thurs. Veba management board chairman Mr. Rudolf Von Bennigsen Foerder said results for the first half of 1977 may be 20 per cent down on the year ago period, when group net profit was 96 million marks. Mr. Bennigsen Foerder told the annual
      Reuter  -  223 words
    • Article
      Lock icon Bally plans EGM to discuss 41m francs claim
      149 5 Reuter SCHOENENWERD. Switzerland, Thurs. C.F. Bally chairman, Mr. Walter Koenlg, said he would call an extraordinary general meeting to discuss points arising from the Neue Zuercher Zeltung article which said Bally had claims of 41.5 million francs against companies associated with Mr.
      Reuter  -  149 words
    • Article
      Lock icon Gazocean obtains debt moratorium
      146 5 Reuter PARIS Thurs. Gazocean has obtained a temporary debt moratorium effective June 22, a company spokesman said. This has the effect under French law of preventing creditors taking action against the firm for three months, with the possibility of an extension of up to three years,
      Reuter  -  146 words
    • Article
      Lock icon Mannesmann anticipates reduced payment
      101 5 Reuter DUESSELDORF, Thurs. Mannesmann expects Its 1977 cash dividend to be below the seven marks proposed for 1976, management board chairman Mr. Egon Overbeck told shareholders. Earnings this year, based on estimates from current results, will be below the 1976 worldwide net profit of 302 million
      Reuter  -  101 words
    • Article
      Lock icon Norway seeks 5-year Eurobond
      92 5 Reuter FRANKFURT, Thurs. The Kingdom of Norway is negotiating for a 200 million mark five-year Eurobond, probably with a 5.75 per cent coupon and a 99.50 per cent pricing, lead manager Deutsche Bank said. Primary bond market sources said the continuing firmness of the foreign mark
      Reuter  -  92 words
    • Article
      Lock icon SOFTEL NOTES
      51 5 Reuter LONDON, Thurs. The Ste Flnanclere Pour Les Telecommunications et L'electronique (Softel) US$4O million Euronotes, due 1983, have been priced at par, said lead manager Hill Samuel. The notes, guaranteed by the Italian parent firm, the state telephone company Stet, carry a coupon of 9% per cent, as
      Reuter  -  51 words
    • Article
      Earnings up at Levi Strauss
      118 5 NORTH AMERICAN COMPANIES LEVI BTRAUSS made net earnings of U5533.37 million or $1.51 a share for the second quarter ended May 29, 1977 compared with $26.63 million or $1.20 a share in the 1976 quarter. The 25 per cent Increase in earnings lifted net earnings
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    • Article
      Sohio buys 66 petrol stations
      91 5 BRITISH PETROLEUM said Its associate, Standard Oil of Ohio bought 66 petrol stations on the US MiddleAtlantic coast owned by Commonwealth Oil Refining. BP'S stake in Sohlo, at present about 26 per cent Is expected to rise to over 50 per cent by the middle
      91 words
    • Article
      Lock icon Mobil appeals ICC ruling
      177 5 Reuter MOBIL said Its Alaska Pipeline unit has appealed to a Federal Court to set aside an Interstate Commerce Commission (ICC) ruling on its trans Alaska pipeline tariff as unlawful. It asked the US Fifth Circuit Court of Appeals In New Orleans for a temporary restraining
      Reuter  -  177 words
    • Article
      Lock icon FEDERAL HOME COSTLY MISTAKE
      388 5 NYT FEDERAL HOME LOAN MORTGAGE CORP said It had In effect overcharged purchasers of Its securities by between US$2 million and $10 million during the last five years and was planning to make restitution to some 1,400 Institutional investors. The costly mistake occurred In preparing tables
      NYT  -  388 words
    • Article
      Lock icon M. Hanover improved second quarter
      117 5 Reuter MANUFACTURERS HANOVER second quarter earnings will be very satisfactorily ahead of the 1976 second quarter's US$l.l6 a share, chairman Mr. Oabrlal Hauge told a press lunch. In the year-ago period the company's net and operating earnings per share were both $1.16. He said progress
      Reuter  -  117 words
    • Article
      Lock icon Babcock, U. Tech silent
      66 5 Reuter BABCOCK AND WILCOX and United Technologies said they have no statement to make on the Justice Department's suit seeking to block the takeover of Babcock and Wilcox by United Technologies. A Babcock and Wilcox spokesman said the company feels the Justice Department statement speaks for
      Reuter  -  66 words
    • Article
      Lock icon A victim of expansion
      609 5 NYT FROM A MODEST collection of textile plants engaged in printing, converting and weaving cloth. United Merchants and Manufacturers new into a diversified textile products giant over an expansion diversification binge in the last two decades. Last week, however, when it abruptly closed the doors of
      NYT  -  609 words
    • Article
      Lock icon COTTON SPINNERS PASS DIVIDEND
      627 5 FT TOKYO, Thurs. The business performance of Japan's nine leading cotton spinners deteriorated sharply in the second half of the fiscal year ended April 1977 and as a result six of the companies were obliged to suspend dividend payments. The Industry's disastrous profit performance In the
      FT  -  627 words
    • Article
      Lock icon Strike at Newman to continue
      190 5 ASIAN COMPANIES Reuter SYDNEY. Thurs. Striking workers at Mt. Newman Mining's Port Hedland Iron ore loading facilities voted 800 to three to continue the strike started on June 3. a company spokesman told Reuters by telephone from Perth. He said the combined unions meeting demanded
      Reuter  -  190 words
    • Article
      Lock icon Matsushita expects 14pc increase
      156 5 Reuter TOKYO. Thurs. Matsushita Electric Works said It expects a 14.7 per cent Increase In after-tax profit to 10.9 billion yen for the current year ending Nov 30, 1977 from 9.50 billion last year. Sales will rise 11.1 per cent to 374 billion (335.09 billion), and
      Reuter  -  156 words
    • Article
      Aussie dept discussion on trade act
      95 5 CANBERRA. Thurs. The Business and Consumer Affairs Department will discuss with computer companies their complaints on the revised Trade Practices Act, the acting minister for the department, Mr. Lan MacPhee, said In a statement. He said he was surprised the companies made their views
      95 words
    • Article
      Alcoa (A) withdraws
      98 5 Perth, Thurs. Western Australian Premier Sir Charles Court said Alcoa of Australia has withdrawn from the proposed As6so million Alwest bauxitealumina project, but plans to build its third alumina refinery at Wagerup, about 120 km south of here. He said Alcoa withdrew because the Intended participation of
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      Page 5 Advertisements Column 1
      91 5 Copies Sold 24,000 23,000 22,000 21,000 20,000 19,000 18,000 17,000 16 000 15,000 14,000 CLIMB WITH US No, this is not a graphic study of the Himalayan mountains. It is a twelvemonth study graph of Fanfare's almost-meteoric rise in circulation in Singapore alone. A 6,820 increase in the last three
      91 words
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  • Article
    Share Information Service
    2271 6 1977 Hick Lmw 1 Company 1 Lut Sal* ♦«rGr'» div Dtv e'vr Or** C Nat P/l Val Day Hick Law SECTION ONE INDUSTRIALS 154 139 204 96 215 101 196' 163 25 136 127 172 58 212 57 155 152 182 350 Ac ma Acma A Alcom
    2,271 words
  • Article
    Transactions in Singapore
    1663 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 Board
    1,663 words
  • Article
    In Kuala Lumpur
    1567 6 BID and offer price* officially listed and business In and reported to the Kuala Lumpur Stock Exchanee yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified INDUSTRIALS Almni (1.838 1 878) (1) 1 83. AIM. MMB (0.888). A.
    1,567 words
  • Article
    Stock options
    46 6 STRIKING price* of the dock option* officially liated on the Slock Exchange of Singapore, the perioda, bid and offer price* and buaineaa done yeaterday, with the number of optiona traded ahown in brack eta. D.B.S. (Dec $3.60) (0.12B) U. 0.8. (Dec $3.20) (0.188 0.205)
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  • Article
    Unit trusts
    146 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' pricai far July 8) (lurraac pr INCOME BOND 1 06 1.12 The Commerce 1 88 178 MARA BUMIPUTRA FUND The Saving Fund 0.95 1.00 (Maaagcn* price* Air July 8) S pore Prog Fund 0.86 0 81 First Bumlputra 2.09 2.14 S
    146 words
  • Article
    CORPORATE BONDS
    136 6 B O T 8 1/2% 1981 (100.000) (102%8 103HS) B O T 7 5/8% 1984 (100.000) (98*«B 99'x.S) Credit Lyonnaia Floating I*B3 (100.000) (98SB 995) DBS Converts 6 1/2% 1991 (100.000) (98 WB 98 %S) D B S 8 1/2% 1982 (100.000) (10IHB 10P.S) El 89% 1982 (100.000)(103'.B
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  • Article
    GOVERNMENT BONDS
    132 6 Rep Spore D Mark 7% 1982 (100.000) (100*«B 101 >«S) Rep Spore D Mark 6 1/2% 1983 (100.000) (998 99 »5) Rep Spore 7 3/4% 1987 (100.000) (100".B 101S) 5 1/4% 15/7/78 (250.000) (101.SOB 101.575) 4 3/4% 1/5/79 (250.000) (100 808 100.90S) 5 1/4% 15/10/79 (250.000) (101 758)
    132 words
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      Page 6 Advertisements Column 1
      199 6 Dnwwwßooo sum ENROL with FfOm PUBLICATIONS HOME STUDIES DIVISION for W>lscy Hall Inst of Administrative Management Inst, of Bankers (Conversion Course is available) Inst, of Chartered Secretaries and Administrators Inst, of Statisticians J.. i V i VV.,; A L&f s LIT PTA ERA MA SCRI NET Professional Courses < Academic
      199 words
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  • Article, Illustration
    SELECTED GAINS
    639 7 PRICES ntmtod marginally tcroM a broad front in ■odarato trading on tha Stock Exchange of Singapore yesterday. The morning market mw mm carried over baying orders pushing price# up by u much as five per cent. However, this proved to be just a (lash in the pan as
    639 words
  • Article
    KLSE CLOSES HIGHER
    366 7 MOST SHARES closed marginally higher after trading erratically on the Kuala Lumpur stock market yesterday. After a brief initial upsurge, sentiment weakened slightly and prices began to reflect an easier tone. The downturn continued well Into the afternoon before prices recovered slightly towards the close. Most of
    366 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      339 7 HONOKONO: Share prices closed slightly higher in moderately active trading, dealers sakt on Thursday. The Hang Seng index slipped 0.36 point to cloee at 436.80. Swire Pacific and Whsslssh Mifhs rose 10 cents each to $7.00 and $2.70 respectively, while Heagkeag Beak fell 10 cents to $18.00. niijliefln- 1
      339 words
    • Article
      Tokyo
      461 7 TOKYO: Share prices closed higher with buying Interest extending over a vide front resulting from the stabilisation of the exchange market, dealers said on Thursday. The Dow Jones Average gained 12.79 to close at 4,985.46 with volume 200 million shares. The New index closed at 376.71, up 0.87. Electrlcals
      461 words
    • Article
      Sydney
      383 7 BYDNEY: The market cloeed slightly higher on Thursday after easing from a firmer opening, following the relaxation of foreign capital Inflow restrictions. dealers said. The Sydney All-Ordinaries Index roee 0.81 point to end at 454.53. BHP cloeed two cents higher at $6.20 and CBR rose one cent to $3.20.
      383 words
    • Article
      Manila
      164 7 MANILA: The market closed firm with all sectors showing small advances and higher turnover, dealers said on Thursday. Atlas was down two points while other mining Issues closed higher. Oriental led the oil sector with a two points Increase while Seafront rose one point and other issues were steady.
      164 words
    • Article
      Bangkok
      86 7 1M 3n too unch ♦2 -4 poUtanB&nJ[ STO sia Mi unch Beril Jucker -4 •4 CharoongThal Win Dumex Dualt Thanl KM ♦4 Fiber Merlin nmTruK Indo-Thal Industrial FTntna Corp 1206 unch J And J Ho Jalaprathan Cement 235 -J 111 Lee K wane Mln Metal Box 8 40 ♦0.3
      86 words
    • Article
      Amsterdam
      309 7 AMSTERDAM: The market eased on lack of Interest with Labour Party leader Joop Den Uyt's proposals to reduce unemployment a negaUve factor, dealers said on Wednesday. Dutch internationals eased across the board led by Beyal Dutch which cloeed 1.10 guilders lower. KLM cloeed 0.70 down after at first firming
      309 words
    • Article
      Brussels
      165 7 BRUSSELS: Most price* closed higher but there was some prolittaklng especially In the electrical* sector, dealers said on Wednesday. Reserve, So fin a, Electrobel, Afturienne, Vleille Moatagne, Cockerill and Clabeea all rose but FN. Wagoaa-LHs and latoeeea were lower. In foreign stocks, most UK and Germans fell, Dutch and
      165 words
    • Article
      Frankfurt
      337 7 FRANKFURT: Bhares closed mostly lower as a technical reaction to the gains since the beginning of the month, bourse sources said on Wednesday. In generally stable autos, BMW rose 1.30 marks but Daimler was stable after virtually unchanged 1977 profit* were forecast. In utilities. Vafca, which said first half
      337 words
    • Article
      Milan
      166 7 MILAN: Most sectors closed lower In quiet trading after a steady opening, dealers said on Wednesday. Leading Industrials fluctuated narrowly with Aaic, Pirelli E C, both Olivetti and Moatfdiaaa slightly higher but Plat. Pirelli SPA, Saia Viaeea were all lower. Baategi was unchanged In mixed financlals. while Asalcnrasieai General!
      166 words
    • Article
      Paris
      364 7 PARIS: The market eased In thin and dull trading, dealers said on Wednesday. Engineerings lost most ground, with Babcock easing almost five per cent and metals were also well down. Foreign stocks also eased except for steady Americans and mixed coppers. Shares of CW de Navigation Mixta 8A (CNM)
      364 words
    • Article
      Zurich
      263 7 ZURICH: Prices declined In light trading, dealers said on Wednesday. Bally shares loet In heavy selling with bearer stock closing at 1,040 francs after Tuesday's 1,220 and registered shares dropped to 1,010 francs compared with the previous day's 1.140. Small losses predominated In other sectors except for sllchtlv higher
      263 words
    • Article
      Jo'burg
      325 7 JOHANNESBURG: Oold shares were quietly steady In hesitant trade ahead of the IMF gold auction, dealers said on Wednesday l mcorp featured In mining financial*, trading 21 cents up at 396 amid market speculation of new mineral discoveries within the group. Financial minings generally were steady In line with
      325 words
    • Article
      Toronto
      336 7 TORONTO: The market closed broadly mixed In active trading on Wednesday. The composite index was off a fraction and advances outnumbered declines 225 to 183. Management companies and pipelines showed the greatest strength on Index Carting O'Keefe rose five cents to $2.90 and Imm A gained ft to 27-ft.
      336 words
    • Article
      New York
      1303 7 NEW YORK: Stock prices drifted lower In stepped up trading on Wednesday, as Investors pondered divergent predictions about the course of the economy. Prices dropped further during the final hour In response to a bearish brokerage house report on the longer term outlook for the auto Industry, Wall
      1,303 words
    • Article
      Indices
      63 7 FINANCIAL TIMES INDUSTRIALS Wednesday 445.9 Tuesday 451.0 Week Ago 456.2 DOW JONES AVERAGE INDUSTRIALS Wednesday 907.73 Tuesday 913.5<J Week Ago 913.23 LONDON DOLLAR PREMIUM Wednesday 115* to 115% Tuesday 114% to 114% H.K. HANG SENG Wednesday 437.18 Tuesday 435.45 Week Ago 438.12 SYDNEY INDUSTRIALS Wednesday 374.41 Tuesday 375.50 Week
      63 words
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      47 7 SECURE It BRIGHTER EUTURE V'f^b Sr S-fIS maimM >• V, s lnitituH uf AiJmiiiiHiMi— 5 .1 i V) K Z N M S > N 9 <5! >> %■> ,4cf NOW Post this coupon for a FREE PROSPECTUS nmn %d mk -Jr '?'-"r vf t■- CT S St« EXAMINATION **********1
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      474 8 IN the Singapore rubber market yesterday, opening quotations were marked up 0.75 cent but fell back on light liquidation, dealers said. Towards the morning close, however, prices recovered to around overnight levels on some covering demand. Volume was moderate. The morning session closed quietly steady
      474 words
    • Article
      R.A.S. PRICES
      307 8 Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.3.S. prompt f.o.b. 184.75 185.75N 186.50 187.50N Int 1 R.S.S. July 185.25 185.75 186.50 187.50 Int. 1 R.S.S. August 187.25 187.75 188.25 188.75 Int. 2 R.S.S. 184.75 185.75N 185.75 186.73N UK/Cont. 183.75 184.75N 184.75 185.75N Int.
      307 words
    • Article
      SSR AND SMR
      94 8 July Aufuil R.A.S. (Current Mth) (Faro i f Buyer* (oenU Seller* >P«rk*> Buyer* (east Seller* park*) SSR20 (1 ton Pallet) 189 00 191.00N 190 00 192.00N SSR50 (1 ton Pallet) 187.00 189.00N 188.00 190 00N M.R.E.L.B. Auguat Septa ■mber 8MR 5 CV (1-ton Pallet) 211.50 213.50N 211.50
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    • Article
      Closing prices
      29 8 Rubber: July 7 Singapore: July 188.50 ets (up LOO ct.) Malaysia: August 189.75 ets (up 0.50 ct) Tin: 11,492 (unchanged) Official offering: 225 tondm (down 25 tonnes)
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    • Article
      Cocoa
      182 8 LONDON. Thurs. Terminal cocoa finished a prolonged and somewhat irregular opening call £16 up from last night (May at C 2.293.50) to £8 lower, having first traded £12.50 down against New York, basis spot July at £2,940. Terminal cocoa closed the morning quiet, £28.50 down from last night (spot
      182 words
    • Article
      Produce exchange
      527 8 SENTIMENT Improved across a wide front at the Singapore commodity market yesterday. Overseas buyers were still fighting shy of the market as sellers here began marking up their prices In sympathy with the steadier trend prevailing In the International markets. Some Inquiries were received from New York, London
      527 words
    • Article
      Coffee
      341 8 LONDON, Thurs. Futures ended a quiet and well matched opening trading session at £114 (as In September at £2,316) to £72 per tonne down from last night. 196 lots were traded and market tone was easier. Dealers attributed the decline to New York's performance and lack of any fresh
      341 words
    • Article
      Tin shipment
      77 8 SHIPMENT of Straits refined tin from Penang for the month of June 1977 This Period Jan/June Destination Shipped Afloat Shipped tonnes tonnes tonnes Africa 10.00 20.00 Australasia 87.00 135.00 Canada 15.00 45.00 Continent 1,001.75 140.00 10,690.25 India 352.50 1,142.75 Japan 1,374.00 65.00 7,310.50 West Asia 83.00 336.50 Pacific
      77 words
    • Article
      Straits tin market
      196 8 THE Straits tin price In Penang yesterday was unchanged at $1,492 on an official offering down 25 tonnes to 225 tonnes. In LONDON yesterday, tin recorded gains of £95 for cash and £67 for Three Months. High grade rose by £107 and £87 respectively. Stability at Penang.
      196 words
    • Article
      Sugar
      231 8 LONDON. Thurs. Sugar futures closed the first call mostly unchanged from last night (near August at CI 10.50 bid) to £0.40 per tonne higher and later hardened further although In relatively light trading. Sugar futures closed the morning quiet, up from last night by mostly CO. 10 (near August
      231 words
    • Article
      Palm oil
      63 8 C.I r. Rotterdam. US dollars p< LONDON er ton. ■r Prtv. Malaysia 5H f fa bulk Auc Sumatra 5* July Au« Sept Oct. Nlcerlan 5* ffa bulk 525 sir 535 sir 530 sir 522.50 sir unch unq unq 535 sir 521/530 pd 520 sir 515 sir unq ROTTERDAM:
      63 words
    • Article
      Rice
      212 8 BANGKOK, Thurs. Indicative prices quoted here were: (US dollars per tonne rob but* Bangkok) White Rice: 100 per cent Ist class 302 100 per cent 2nd 287 100 per cent 3rd 253 5 per cent 274 10 per cent 250 IS per cent 247 20 per cent 244 25
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    • Article
      Hongkong comex
      236 8 HONGKONG, Thurs. The cotton futures market closed lower after opening with March traded limitdown, following the overnight decline in New York, dealers said. Trading was centred on March, which closed above the opening but 1.01 US cents lower than yesterday's close on commission house profit-taking, while other months
      236 words
    • Article
      Soybeans
      189 8 CHICAGO, Thurs. Despite a slightly higher opening yesterday, soybean futures turned mostly lower In early trading as selling picked up when the Initial advances failed to hold, traders said. The two nearby months showed losses of approximately 28 and 25 cents a bushel, November, January and March were up
      189 words
    • Article
      Wheat
      60 8 CHICAGO, Thurs. Wheat futures advanced from 3* to one cent a bushel In early trading yesterday morning. Wheat futures rlosed the afternoon with advances of 1* to sk cents a bushel, slightly off the highs for the day. Brokers said wheat was able to hold the chart point of
      60 words
    • Article
      Copper
      363 8 LONDON, Thurs. Copper wire bars In the morning rose mostly £7.50 per tonne. In the ring Three Months traded up to £747 per tonne, but the higher levels soon attracted trade hedge selling and it fell back to £742 before final business at £743. Some merchant short covering held
      363 words
    • Article
      Silver
      208 8 LONDON, Thurs. Sliver In the morning rose 1.9 to 2.1 pence per troy ounce with the market's very steady tone attributed to overnight gains In New York and a higher gold price In the morning. Only 24 lots changed hands. Three Months closed at 264.2 pence. On Wednesday afternoon
      208 words
    • Article
      Gold
      382 8 THE Singapore gold market yesterday opened In a hesitant mood as dealers were divided as to the interpretation of the IMF gold auction results. The kllobar opened at SSI 1,255 and was traded to a low of 5i11,235 before short-covering set in to lift prices to close at 5511,275.
      382 words
    • Article
      Lead
      106 8 LONDON, Thurs. Lead rose by £2.00 all round In the morning. Modest short covering prompted by the trend In copper gave the market early support, dealers said, with three months trading up to £328 In the premarket. Subsequent profit-taking In the ring pared the position to £321 In routine
      106 words
    • Article
      Zinc
      103 8 LONDON, Thurs. Zinc finished the morning atwvt unchanged from previous closing ring levels. The metal moved up on the pre-market following the early advance In copper, but the higher levels brought out profit-taking and hedge selling which erased gains In the ring. Three-months traded up to £320 on the
      103 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        505 8 THE Singapore foreign exchange market saw erratic fluctuations of the US dollar against the Japanese yen and the Deutschemark. From the opening of 264.40/50 yen In Singapore, the US unit firmed rapidly during the morning hours to hit the day's high of 265.55/70 before the close of the Tokyo
        505 words
      • Article
        Minimum lending rates
        38 8 acbc «H tv. |H Citibank 7 HSBC «v. Inilnnm «*4 7 «s Btak of Tokyo Miuui Bank m Bank Negara OCBC IxioaoMa 7 OUB Cfe UCB 7 n>.» y..k.M» «v. L'MBC 7 DBS ...14 UOB
        38 words
      • Article
        Asian $ rates
        177 8 Asian rates ASIAN currency deposit 1 interbank rate* u at close on July 7 US Da Uan(8»at) OAr BMl 7 days ..S 11/14 S 4/14 1 mUi ..5 11/16 i 4/14 2 mths ..5 13/16 5 11/14 3 mth* ..5 15/16 5 13/14 mths .6 3/16 4 1/14 mths ..6
        177 words
      • Article
        Discount
        7 8 53 Source: National Discount Co. Ltd.
        7 words
      • Article
        Euro $ rates
        118 8 Euro rates LONDON. Thurs. Eurodollar deposit trading was quiet with operator Interest centred on the foreign exchange market, dealers said. Day to day rates were basically steady with only small movements from overnight levels though funds were still wanted. Period rates opened up to 5/16 higher following the loss of
        118 words
      • Article
        New York
        170 8 NEW YORK, Thurs. The dollar yesterday recovered some ground in calm trading, following Its recent sharp drop, to close higher on balance than Tuesday night amid light profittaking, dealers said. The yen, whose rise triggered the dollar's latest drop, closed marginally weaker at 0.3767/69 cents from 0.3768/70. The
        170 words
      • Article
        London
        181 8 LONDON, Thurs. Sterling weakened in initial trading as some large selling emerged but some dealers detected the steadying Influence of the Bank of England as the rate fell to U551.7193/95 from its opening $1.7196/98. The dollar opened generally stronger against the major European currencies and In Tokyo It advanced
        181 words
      • Article
        Tokyo
        81 8 TOKYO, Thurs. The dollar for overnight delivery strengthened, mainly on import covering by traders, closing at 265.50 yen, up from 264.50 at the opening and 265.00 at yesterday's close, dealers said. The dollar for immediate delivery closed at 264.70 yen, compared with 263.80 at yesterday's close. Combined trading volume
        81 words
      • Article
        Hongkong
        87 8 HONGKONG, Thurs. The US dollar firmed slightly against both the yen and the mark after opening below its New York close, dealers said. The US dollar continued to firm against the Hongkong dollar to close at 4.6550/70 compared with 4.6530/40 at yesterday's close, after opening at 4.6540/60. HONOKONO banknotes
        87 words
      • Article
        Australia/NZ
        56 8 AUSTRALIA/NZ exchanges on July 7 Australia: Sterling 0 6543/0 8472 US dollar 1 1222/1 1174 Ninety-day air mall buying rates: Sterling 0.6727 US do! Sirs ***** Ninety-day forward buying rates: Sterling 0.6533 US dollars 1.1106 New Zealand: Sterling 0 5646/0 5615 US dolir 0 0761/0.9661 Ninety-day forward rate: Sterling
        56 words
      • Article
        Zurich
        55 8 ZURICH exchanges closing quotes on July 6 US 2 4367-4373 UK 4.1020-1040 Can 2.310-3030 W Oerm 105 14-22 Neth 06 86-02 France 49 08-50 01 Bel* 6.77 3/4-7# 1/2 Demn 40.51-54 Norw 46 06-00 Swed 55 44-48 Italy 0.2756-2758 Austria 14.84-86 Port 6 33-35 Bpeln 3 40-40 3/4 Arg
        55 words
      • Article
        Frankfurt
        36 8 FRANKFURT exchanges opening quotes on July 7 US 2.3170/00 Can 2.1090/70 UK 3 000/000 Neth 03.01/04.01 Swlts 04.09/09 05 Italy 2 616/628 Prance 47.47/97 Norw 43.53/60 Belt (com) 0 44/49 Bel* (fin) 6.42/44 Japan 0.8720/30
        36 words
      • Article
        Eurobonds
        292 8 LONDON, Thurs. Straight dollar Eurobonds were steady in moderate activity. LONDON Eurobond price* oil July 7 tttraiffcta Bid Offer Austria 8V. 90 101 Vb 102* Be! Canada 8* 88 105* 106* BFCE8*83 101* 102* Brazil 9* 84 98* 98* Can Pacific 9% 83... 103 103* Credit National ISM 99*
        292 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      193 8 r R i V MONTHLY ECONOMIC REPORTS With monthly political luapkmnt for UP-TO-DATE HANDY REFERENCE V s ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken ploce in oil important sectors of the economies of countries in Eost and
      193 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      STORE TO BE ICL'S NEW HQ
      368 9 SINGAPORE will be Internitionil Computer United'* (ICL) new headquarter* for the Sooth-east Asian region, as well as the service centre for the whole of the Far East. It will also be one of the only three ICL stores (for computer parts) in the world.
      368 words
    • Article
      Lock icon London freight market
      199 9 AP LONDON, Thurs. A growing Atlantic tonnage surplus showed on the London freight market yesterday. Its weakening effect on freight rates was evident in US Oulf grain fixing to Japan and Greece. The July-loading EuroAsia Concorde accepted US$9.5O (FIO) for a 25,000ton shipment to Japan, while 25
      AP  -  199 words
    • Article
      Lock icon The world's largest semi-submersible ready for action
      483 9 NYT TOKYO, Thurs. The world's largest semisubmersible ship, designed to revolutlonailse flreflghtlng at deep sea oilwells was christened on Tuesday at the Mitsubishi Heavy Industries shipyard In Hiroshima. The vessel, named the Sedco Phillips SS after Its owner Sedco, Inc., an American drilling
      NYT  -  483 words
    • Article
      S'pore-HK service by Pan Am?
      244 9 THE new air pact between Britain and the US, which gives US lines new operating rights to Singapore, may well start a new Pan American service linking Hongkong with Singapore. Hongkong, as a British colony, is covered by the agreement. But the Pan Am office
      244 words
    • Article
      Lock icon US domestic car sales record
      88 9 Reuter DETROIT, Thurs. US domestic car sales totalled 919,142 last month,a 10.9 per cent increase over 829,146 In 1976 and enough to give the industry its first monthly sales record since September, 1973. The dally sales rate of 35,352 for the month of June broke
      Reuter  -  88 words
    • Article
      Lock icon General Motors plans hybrid vehicle
      187 9 AP DETROIT, Thurs. General Motors Is planning to Introduce for 1980 a unique hybrid vehicle that Is a cross between a van and a compact station wagon, according to an Industry trade Journal. The authoritative Ward's Automotive Reports said in its latest edition that It
      AP  -  187 words
    • Article, Illustration
      IN PORT
      385 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Accorn (6ZIN) (1200) 33/34 Barge Sin Llan Huat No. 1 (0700 alongside Travlata) 47 Bunga Butang (1200) 19 Patroclus (P/O) (after Reefer City) (Must head West) 3132 Straat Chathan (P/O) (1) (1200 after Oakbank) 35/36 Straat Chatham (11) (shifts in completion of D/L
      385 words
    • Article
      Lock icon Study on perishables
      80 9 Reuter WASHINGTON, Thurs. The US Maritime Administration commissioned a 12-month study to determine ways US flag lines can increase profitable participation is shipments of perishaMe commodities to foreign markets. Disclosing this, the export trade services division of the US Agriculture Department •aid the study will analyse market
      Reuter  -  80 words
    • Article
      Improvement in Alitalia's performance
      215 9 ALITALIA'S traffic performance Improved 27 per cent in the first six months of this year, over performance for the whole of last year. The airline projects that performance for the whole of 1977, however, will be a slightly lower but still creditable 15 per cent to
      215 words
    • Article
      Lock icon Toyota expects to fall short of target
      222 9 Reuter TOKYO, Thurs. Toyota Motor Co said Its domestic vehicle sales this year will probably fall short of the 1.5 million unit target following slow first-half sales. Toyota said It estimated this year's sales at 1.45 million units as sales In the first-half
      Reuter  -  222 words
    • Article
      Lock icon Mitsui-Thai tie-up
      65 9 Reuter TOKYO, Thurs. Mitsui Engineering and Shipbuilding Co (Mitsui Zonsen) said it has formed a technical tie-up with Thaveesin Engineering and Shipbuilding Co of Thailand to assist the Thai firm in a project to construct a new dockyard in Bangkok. The Thai shipyard plans to construct the new
      Reuter  -  65 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      565 9 ARRIVALS Oailw Lml Operator Wiwln Iki Pm KAL KE807 0015 SEL CAL CI331 0040 TPK/HKO/KUL MAS MH682 0810 KCH PAA PA847 0810 SFO/HNL/OUM OIA OA960 1090 HLP SIA 8Q211 1045 HLP OIA OA0O8 1100 MBS PAL PR501 1115 MNL RBA BOB 1155 BWN SIA SQ240 1210 MES
      565 words
    • Article
      NZ SHIPBUILDING CONTRACT
      84 9 WELLINGTON, Thurs. A New Zealand shipbuilding firm, Whangarei Engineering and Construction Ltd., has won the contract for what Is believed to be the biggest shipbuilding project ever undertaken in New Zealand. The letting of the NZ$5 .25 million contract for a dredge for Westport harbour was announced
      84 words
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      Page 9 Advertisements Column 1
      256 9 ®SSI I 1 »u The three bosk needs and the three parts of BritaYtico 3 1. To get et the facts often a single fact easily and quickly, without heving to raad a long article in -which that fact is embedded. This need is served by the 10-volume Micropsia. or
      256 words
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  • Article, Illustration
    Lock icon Made in Germany (by Italians, Turks and others)
    552 10  -  By 1 WELLINGTON LONG UPI BONN: For 90 years, the phrase "Made In Germany" stamped on a manufactured product guaranteed that it was a high quality Item made by German hands In one of the world's most sophisticated and efficient Industrial societies.
    UPI  -  552 words
  • Article, Illustration
    Lock icon The City plans its own police
    2114 10  -  In 1973, Singapore set up its ownSocmitios Industry Council to regulate the activities of the stock market and related institutions. Now, four years later, the City of London is planning its own securities watchdog which premises to be mere comprehensive than its vsry successful
    FT  -  2,114 words
  • Article, Illustration
    Lock icon To catch a computer thief
    938 10  -  By RICHARD LYONS NYT WASHINGTON: The increasing dependence of practically every element of society on computers to transfer funds and store information has In turn bred a new type of sophisticated thief who is presenting law enforcement officials with a technological [update of the calculated
    NYT  -  938 words
  • Article
    Lock icon Indian 'problems of plenty'
    991 10  -  PATEL'S DISAPPOINTING BUDGET By K.K. SHARMA FT NEW DELHI: Having disowned the Interim budget presented two days after the Janata Government came to power In India In March, on the ground that "It reflects the thinking of the previous Congress Government", Finance Minister H.M. Patel went
    FT  -  991 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      539 10 This months new Penguins FITZGERALD Tlm Last Tycoon: F. Scott Fiagarald Exhausted by Hollywood hackwork, Fitzgerald died before he could complete the book that many people regard as his masterpiece. His bittersweet novel of Hollywood in the thirties is now a Paramount film due to be released shortly. As with
      539 words
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  • Article
    Lock icon Economy not moving despite good export pace
    245 11 UPI SEOUL, Thurs. Despite brisk exports, the South Korean economy remained at a standstill in June for the fifth consecutive month due to an unexpected slump In construction activltes, a government report said today. The report, prepared by the Economic Planning Board, said
    UPI  -  245 words
  • Article
    Don't neglect marketing: SMA chief
    416 11 LOCAL manufacturers were urged yesterday to take a serious look at how they can promote the sale of their products through more sophisticated marketing techniques rather than rely solely on low product price to get at sales targets. Mr. Michael Yeo, chairman of the Singapore
    416 words
  • Article
    S'pore is rated 'ideal centre'
    164 11 THE AMERICAN Business Council rates Singapore as an "ideal management centre" In Southeast Asia. In its new 48-page booklet on "Setting up a regional office In Singapore," ABC lists three reasons to support this claim. They are: Singapore has established excellent working relationships with Asean
    164 words
  • Article
    Lock icon Philippines reports $560 m surplus for first six months
    471 11 Reuter MANILA, Thurs. The Philippines had a balance of payments surplus of US$22B million (***** million) for the first half of 1977 compared with Asl73 million deficit In the first six months last year, the Central Bank reported. Bank governor Mr.
    Reuter  -  471 words
  • Article
    Lock icon Fraser's new plan to push products to EEC
    213 11 UPI CANBERRA, Thurs. Australian Prime Minister Malcolm Fraser yesterday announced plans to appoint a "high-powered" trade negotiator as part of the government's drive to sell agricultural products in Europe. The new man will act as a roving troubleshooter representing Australia in on-the-spot
    UPI  -  213 words
  • Article
    Lock icon Handloom products
    54 11 AFP NEW DELHI, Thurs. India earned about 2,150 million rupees (about SSSBB million) by exporting handloom products In 1076-77, against 1,855 million rupees in the previous year, an official release said yesterday. In main items exported includes fabrics, ready made garments, handkerchiefs, floor coverings, bed covers and bed
    AFP  -  54 words
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    Lock icon Newsmen can play greater role in Asean
    528 11 Reuter AFP MANILA, Thurs. The Federation of FilipinoChinese Chamber of Commerce and Industry (FFCCCI) has urged senior journalists of Asean to promote closer trade and economic ties by monitoring business opportunities within the region. The FFCCCI also urged them to exert a "united
    Reuter; AFP  -  528 words
  • Article
    Lock icon It's not meaty enough for Aussie board
    204 11 AFP CANBERRA, Thurs. The Australian Meat Board has decided to examine the possibility of becoming a licensed Importer within Japan or to be the sole Australian tenderer for Japanese meat quotas. The Board decided this at a meeting In Sydney this week In
    AFP  -  204 words
  • Article
    Lock icon Sabah buys $5m cattle farm
    146 11 Reuter KOTA KINABALU, Thurs. The government backed Rural Government Cooperative of Sabah has bougnt a cattle farm in the Australian Northern Territory to ensure regular supplies of reasonably Brlced beef, state Chief [inister Datuk Harris Mohamed Salleh said. The cooperative with Australian Government approval paid
    Reuter  -  146 words
  • Article
    Lock icon Straits Tin sales increase
    110 11 Reuter SHIPMENTS of Btralts refined tin from Penang rose to 5,924.25 tonnes In June from 4,793.50 in May and 5,488.50 in June last year, the Straits Trading Company said yesterday. Of the June shipments (May in brackets), Africa took 10 tonnes (nil), Australia 87.00 (38.00), Canada
    Reuter  -  110 words
  • Article
    Lock icon Good for Taiwanese products
    55 11 AFP TAIPEH. Thurs. The strengthening of the Japanese yen In relation to the US dollar In the Tokyo Stock Exchange will build up the competitiveness of Taiwan-made products in International markets. Local Businessmen said that Taiwan-made textiles and farm processing products will also benefit In sales
    AFP  -  55 words
  • Article
    Lock icon Labour court
    31 11 AFP BANGKOK, Thurs. The Cabinet has appointed a 15member committee to draft a bill providing for the setting up of a labour court, an official source reported today. AFP.
    AFP  -  31 words
  • Article
    BELGIANS TO STUDY JOINT VENTURE PROSPECTS
    276 11 KUALA LUMPUR, Thurs. Twenty-five Belgian Industrialists will visit Malaysia to look Into prospects for Joint ventures and to promote their products, particularly machinery and chemical products. The new Belgian Ambassador to Malaysia, Mr. J.P.L. Trine, told a Press conference In Kuala Lumpur the visit
    276 words
  • Article
    Lock icon LEE HITS THE RIGHT SPOT
    141 11 Reuter MANILA, Thurs. The Bulletin today lauded Singapore Prime Minister Lee Kuan Yew for stressing the need to expand the present economic arrangements within Asean. The Bulletin quoted Mr. Lee as saying In his speech at the opening of the 10th Asean Foreign Ministers' Conference
    Reuter  -  141 words
  • Article
    Phone book
    36 11 THE Telecommunication Authority of Singapore has suspended distribution of the Singapore Phone Book July 1977 because of the overwhelming response from subscribers to collect the new books. It will resume distribution on July 21.
    36 words
  • Article
    Lock icon Japanese forex banks to lobby against US bill
    161 11 UPI TOKYO, Thurs. Japanese foreign exchange banks oppose a bill, now before the US Congress which would restrict activities of foreign banks in the United States, banking sources said today. The sources said the banks, including the Bank of Tokyo, will lobby
    UPI  -  161 words
  • Article
    Lock icon $337 m plant for Pattani
    85 11 AFP BANGKOK, Thurs. The Thai Cabinet yesterday approved a 2.737 million bant (***** million) hydroelectric plant at Pattani, In southern Thailand, informed sources said today. The secretary-general of the National Economic and Social Development Board, Mr. Krlt Sombatslrl said the plant, which should be completed
    AFP  -  85 words
  • Article
    Extension of centre study not likely
    291 11 THAI and Malaysian officials have suggested that further discussion be held on the recommendations by the Belgium consultants to the Asean centre In Europe, after they have finished with their final report. Dr. Kathleen Steel and Mr. Jan Jansen of International Prospecting fc Trade
    291 words
  • Article
    Lock icon Clamp on silk fabric inflow
    244 11 AFP TOKYO, Thurs. Japan will begin on Monday restricting the Inflow of Chinese and South Korean silk fabrics via Hongkong and Macao under a government prior approval system. About 10 per cent of the 19.45 million square metres of silk fabrics Japanese traders bought from
    AFP  -  244 words
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      282 11 APPOINTMENTS MAHAWANGSA HOLDINGS :i a iil MH TT^TTTTT^ :13 (Malaysian Citizens Only) Mahawangsa Holdings Sdn. Berhad invite applications from Malaysian citizens for appointment as Timber Executive. The Company's timber business is internationally export-orientated. Applicants should, therefore, have a good knowledge of all aspects of sawn timber business. They should be
      282 words
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      241 11 Established local public company wishes to engage the services of an experienced n I to help the company to evaluate and operate a tin property in Western Australia at present running on a partial capacity basis. The appointment is viewed as a specific assignment of not less than 2 months
      241 words
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  • Article
    Sumitomo team bows in for final stage talks
    285 12 A THREE-MAN team from Sumitomo Chemical Company of Japan yesterday started what is believed to be the final round of talks on the Japanese-Singapore petrochemical project with officials from the Ministry of Finance and the Economic Development Board. Sources yesterday confirmed that
    285 words
  • Article
    South Korean loan
    167 12 FIRST CHICAGO Asia Merchant Bank of Singapore is one of the comanagers in South Korea's latest and second International borrowing for the year. South Korea's Export Import Bank recently negotiated a $158 million Eurodollar borrowing to help finance the construction of 21 ships to be built by
    167 words
  • Article
    Lock icon Seoul buys barley
    67 12 AFP SEOUL, Thurs. South Korea will import 200,000 tonnes of barley this year from the United States, Canada and Australia due to poor domestic harvest, the Agriculture-Fisheries Ministry has reported. The purchase contract was made through open bidding at an FOB price of US$lOO (*****) to $105
    AFP  -  67 words
  • Article
    Industrial nations still show faith in our investment climate...
    974 12 OVER THE last 12 months, from mid-1976 to June this year, foreign manufacturing investments contlnued to flow into Singapore, although at a much slower fate. Overall, major industrial countries continued to show confidence in the investment climate here, although there has
    974 words
  • Article
    Local gold has yet to shine
    442 12 SINGAPORE'S gold trade yesterday remained as unglamorous as It has been for the last two months In spite of dealers' hopes that the International Monetary Fund gold auction would inject some life into the local gold market. Dealers contacted yesterday said that local buyers
    442 words
  • Article
    Lock icon Five years' jail for ex-Folex chief
    178 12 AFP KUALA LUMPUR, Thurs. Former chief executive of 1 Folex Industries Berhad, j Tan Sri Tan Hlan Tsln, 51, was Jailed for five years by 1 the High Court here today 1 for criminal breach of trust 1 of M 5200.000. He was found
    AFP  -  178 words
  • Article
    LONDON STOCKS
    734 12 LONDON, Thurs. The market rallied In afternoon trading, dealers said. Government stocks recovered to near overnight levels among both short and longer dated Issues after falls of up to point, although trading remained fairly light. Leading Industrials came a few pence off the bottom but were still around
    734 words
  • Article
    Lock icon Australian interest rates likely to be reduced
    292 12 AFP CANBERRA, Thur». The prospect of reduction in Australian interest rates has been increased by the decision of the federal government last night to relax controls on overseas borrowings. The move was hailed today by business interests particularly In rural industry which has
    AFP  -  292 words
  • Article
    Booze on
    37 12 TOKYO, Thurs. The domestic sales of beer in Japan during the first half of this year totalled 513,772 kilo litres, up 9.4 per cent over the same period of last year, it was announced yesterday.
    37 words
  • Article
    Lock icon Sugar at rock bottom on London market
    441 12 AFP UPI LONDON, Thurs. Sugar values have (alien to their lowest for nearly four years on the London market with the spot price fixed at £106 (SS4SO) a tonne. Futures quotations were also lower. The trend has been downwards since the peak for
    AFP; UPI  -  441 words
  • Article
    Lock icon Sugar trading on comex by Sept?
    211 12 Reuter HONGKONG, Thurs. Preparations for trading In sugar on Hongkong's Commodity Exchange are progressing smoothly and actual business could start In late September or early October, Exchange Management Committee president John Wilson said. Work on the first draft of the rules and contract, basically
    Reuter  -  211 words
  • Article
    Lock icon Need for new breed of management
    292 12 AFP KUALA LUMPUR, Thurs. The labour movement has the major task of finding ways to Increase workers' participation and responsibility In an Increasingly complex and to some extent an entirely new society, Cuepac's President T.Narendran said today. He said the country was going through
    AFP  -  292 words
  • Article
    Provision shops oppose soft drinks hike proposal
    140 12 THE SINGAPORE Provision Shops Friendly Association is against the bottlers' proposal to raise the price of soft drinks. According to Mr. Wee Boon Chye, the association's president, the proposed price increase might prompt other manufacturers to follow suit by using the same pretext,
    140 words
  • Article
    Lock icon New chief appointed
    56 12 Reuter ZURICH, Thurs. Credit Suisse said It appointed Heinz Clavadetscher, partner at .accountants Anderson and Co, as head of its internal inspectorate from Oct 1. In his speech to the extraordinary shareholders meeting on June 24 bank chairman Oswald Aeppll said the bank planned personnel changes and
    Reuter  -  56 words
  • Article
    Lock icon Indian bank in Manila
    28 12 AFP MANILA. Thurs. The State Bank of India has opened a regional representative office here for the Asia-Pacific region, bank officials said today. AFP.
    AFP  -  28 words
  • Article, Illustration
    Lock icon 'America won't turn its back on Asia'
    687 12 AFP Reuter HONGKONG, Thurs. The United States will remain an Asian-Pacific power and it will not turn away from Asia, US Con-sul-General in Hongkong, Charles Cross, said today. Outlining US political and economic policy in East Asia at a meeting with 1,600 local
    AFP; Reuter  -  687 words
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    Lock icon On scientific cooperation
    46 12 Reuter WASHINGTON, Thurs. US and Soviet delegations yesterday opened annual talks on cooperation in science and technology. The consultations are held under a five-year agreement signed in Moscow on May 29,1972 and will be extended under an agreement to be signed today. Reuter
    Reuter  -  46 words
  • Article
    Lock icon Two boats detained
    55 12 Reuter JAKARTA. Thurs. Two Singapore fishing boats have been detained for illegally fishing In Indonesian waters, the armed forces newspaper, Angkatan Bersenjata, reported today. The trawlers SMR 692 and SMF, 837 were arrested by an Indonesian naval patrol ship near the Rhlo islands and were later escorted
    Reuter  -  55 words
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      155 words