The Business Times, 15 July 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY. JULY 15, 1977 SOCENTS
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  • NEWS IN BRIEF
    • Article
      Asean swap
      56 1 KUALA LUMPUR, Thurs. The US$lOO million (***** million) swap facility agreed to by the Asean countries during the fourth Asean Economic Ministers meeting in Singapore recently is expected to be formally ratified during next month's Asean summit here. The swap arrangement is to help bridge temporary international liquidity
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    • Article
      Live cable
      63 1 MANILA, Thurs. The Oluho Cable System, a large capacity submarine co-axial system linking Okinawa, Luzon and Hongkong, will be formally inaugurated next month with live broadcasts from the three centres. During the inauguration on Aug 26, Japanese Prime Minister Takeo Fukuda, Hongkong Governor Sir Murray Maclehose, and President
      63 words
    • Article
      Lock icon Cheap loans plan
      74 1 Reuter MANILA, Thurs. Philippine monetary authorities are reviewing lending and deposit interest rates with a view to reducing the cost of borrowing to step up Investment, Finance Secretary Cesar Virata said. He believed the gap between the borrowing rate and deposit rate was too wide and that
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    • Article
      Lock icon Election fever
      46 1 Reuter CANBERRA, Thurs. Election fever gripped the Australian capital tonight in the wake of the resignation of Governor-General 81r John Kerr, the man who precipitated the country's gravest constitutional crisis 20 months ago by the shock sacking of Labour Prime Minister Gough Whltlam. Reuter
      Reuter  -  46 words
    • Article
      Lock icon Swiss rate cut
      64 1 Reuter ZURICH, Thurs. The Swiss National Bank said the bank rate would be cut by one-half per cent from tomorrow to help stabilise the country's rising franc. The official Swiss minimum lending rate will now be 1.5 per cent. The Lombard rate, at which loans are Issued
      Reuter  -  64 words
    • Article
      Lock icon UN demands crew
      39 1 Reuter SEOUL, Thurs. The United Nations Command in South Korea has asked for the immediate return of the crew of the US army helicopter shot down over North Korean territory earlier today, the Command announced. Reuter
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    • Article
      Lock icon Award appeal
      53 1 Reuter SIME Darby Holdings Ltd said the vendors of Golden Bay Realty (Pte) Ltd. have appealed to the Singapore High Court against an arbitration award in favour of Sime Darby last June, w award. In Sime's favour, followed a claim en arising from a 1973 property deal with
      Reuter  -  53 words
    • Article
      UK White Paper surprise
      41 1 LONDON, Thurs. The Government in a surprise move today cancelled plans to release a White Paper tomorrow on Its economic strategy In the wake of last night's fruitless talks with trade union leaders on continued wage restraint.
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  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      190 1 SHARE PRICES held steady to firm in selective trading on the Stock Exchange of Singapore yesterday. Trading was hectic at times and gains in selected speculative shares ranged between 10 to 18 cents. Reflecting these sharp advances, the Business Times index chalked up its biggest gain of
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    • Article
      In Kuala Lumpur
      106 1 Rise* Most active T'ganu Dev. Lien Hoe 1.18 2.08 .21 .10 M'sla Weaving Pacific Dev. 1,382,000 *33.000 S M ind 1.87 .15 Lien Hoe 593,000 Fusan 1.00 +.15 Bandar Rava 442.000 Tlmuran 1.54 Pacific Dev 2.5fl C. Sugars 3.32 Oiympla 1.13 Setron(M) 1.31 Sf Best 2.00 Falls
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  • Article
    Red bank plays capitalist game
    1446 1  -  RIVALS PUT TO SHAME QUEK FECK LIM THE BANK of China, the leading communist Chinese bank specialising in International trade, last year turned In profits which put most of its capitalist rivals to shame. In its latest set of accounts filed with the Hongkong Registry
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  • Article
    KL hit by European textile curbs
    713 1 KUALA LUMPUR, Thurs. The latest announcement of new import restrictions on various textile products by the EEC has hit Malaysian manufacturers. A Malaysian Business Times survey Indicated that the restrictions wilt adversely affect several Malaysian manufacturers of cotton yarn, men's shirts, women's blouses, undergarments
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  • Article
    UK deficit rises in June
    248 1 LONDON, Ttaur*. Britain had a balance of payment* deficit of £07 million (***** million) last month, more than double the flfure for May. The fall in the country's earnings resulted from a £200 million rise in imports, while exports vent up by only £172 million.
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  • Article
    KL public service tribunal
    114 1 KUALA LUMPUR, Thura. The Malaysian Government will set up a public service tribunal with wide powers to deal with anomalies created by the implementation of the Cabinet Committee Salaries Report. The Public Service (Remunerations and terms and conditions of service) Bill was tabled Jn the Dewan
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  • Article
    Braddell View estate: New contractor appointed
    314 1 THE Housing sad Urban Development Compsny has finalised ginniiiUs Car another contractor to complete construction work an its Brnddeil View astats. A HUDC spokesman said yesterday, the new contractor, which replaces Wei Giap Construction, the original contractor for the project, is expected to visit
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  • Article, Illustration
    Prices soar as BT index jumps 25 points
    348 1 THE STOCK Exchange of Singapore yesterday enJoyed Its most bullish session In 30 months, with the Business Times Index making a Jump of 24.70 points to 370.69, the biggest rise since It was started in January 1975. After a cautious morning session
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  • Article
    EEC is top investor
    165 1 THE EUROPEAN Economic Community has replaced the United States as the largest foreign Investor In Singapore. As at end-1976. EEC Investment here totalled SI .241 million against $1,233 million bv the United States. In 1975, EEC Investment was $1,112 million compared with US Investment of $1,118
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      20 1 SAFE WITH AN ITOKI SAFE n T.i 2S2I3M* ■OK SUSNESTEMS S«ngjpo»« SEE PAGE 11 SEE PAGE 11 SEE PAGE 10 :>@:[>}_===[.'>%~&_[+!*,|:>:+(^
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      97 1 Copy large size originals on one sheet, size for sizeno trimming, no sticking together. Xerox 3103 No matter what the originals. Up to 14" by 18" or 356 mm by 457 mm. Solids. Half tones. Or pale blue. The Xerox 3103 gives perfect reproductions. Every time. Size for size. On
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      181 1 _`*-)-@`&`@'^)'=@:<=_-{^,@+="!, SEE PAGES U7 Jhe Corporate Dollar Capital Idle Working Capital Overheads Taxes Reinvestment Cash A* 5 i liPEta/lEN JI tY*?l m i *11 ijj ji[• Banking Corporation Whether you do business in one currency or a dozen, at a single location or around the world: We can put your
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  • OVERSEAS
    • Article
      Lock icon US steel industry threatens protective measures
      308 2 AFP TOKYO, Thurt. The United States steel Industry, threatened with growing Japanese exports, will have to seek legal protective measures If the present situation is left unchecked, American labour leaders warned here today. The warning was given in an Interview with the Influential Japaneselanguage
      AFP  -  308 words
    • Article
      Lock icon Negotiations on global trade gathering pace...
      809 2 OFNS GENEVA, Thurs. Negotiations that will radically alter the shape of international trade are gathering pace here after nearly 18 months of stagnation. Delegates expect substantial progress when the Carter Administration announces its positions soon on several key issues, including tariff-cutting formulae and safeguards
      OFNS  -  809 words
    • Article
      Lock icon IMF quota may go up 30-50 pc
      125 2 Reuter WASHINGTON, Thurs. The US expects that a 30 to 50 per cent Increase In quotas In the International Monetary Fund will be agreed to by next February's deadline, senior administration sources said. The quota increase, which will be the seventh, is the
      Reuter  -  125 words
    • Article
      Lock icon IMF: Global rise in consumer prices
      445 2 AP WASHINGTON, ThUTS. Consumer prices across the world generally rose during the first quarter of 1977, with Asian developing countries experiencing the sharpest increase. The International Monetary Fund's July issue of International Financial Statistics, also noted a marked weakening of wholesale commodity prices, especially
      AP  -  445 words
    • Article
      Lock icon Soc Gen $984m swindle: 5 men arrested
      222 2 AP TOULOUSE, Thar*. Five mm are under arreet la connection with swindling a hank of nearly USI4OO million (***** million) in promissory notes through a ■chin involving phantom Arab oil ssoaey. Other hanks in Europe have been alerted. Police yesterday said one ef
      AP  -  222 words
    • Article
      Lock icon 10 pc more Americans living in poverty
      151 2 AFP WASHINGTON, Thurs. The number of "officially" poor Americana Jumped by more than 10 per cent In 1974-75, the biggest yearly rise since the base date of 1959, according to statistics published yesterday. In 1975, 25,900,000 Americans 12 per cent of the total
      AFP  -  151 words
    • Article
      Lock icon COTTON NO LONGER 'KING' IN THE TEXTILE INDUSTRY
      701 2 AFP LONDON, Thurs. Cotton yarn's share of the noncommunist world's production In the eotton and allied spinning Industry fell to its lowest ever during the first quarter of this year, estimates from the Textile Statistics Buseau showed. On a global basis, the
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    • Article
      Lock icon Disclosure system of SEC works well
      436 2 NYT WASHINGTON, Thurs. After a 17-month Investigation of the Securities and Exchange Commission's corporate disclosure system, a blue ribbon advisory panel has concluded that the system of disclosure works well and should not be radically altered. In an interview, A.A. Sommer Jr., a former
      NYT  -  436 words
    • Article
      Lock icon Joint attack on multinationals
      252 2 UPI LONDON. Thurs. A delegation of US congressmen and members of European parliaments yesterday announced agreement on measures to curb "pernicious political activities" by multinational corporations. The accord, which individual parliamentarians will press on their home governments, came in a three-day gathering of the European and
      UPI  -  252 words
    • Article
      Lock icon CFTC will soon be linked with UK commodity exchanges
      440 2 Reuter LONDON, Thurs. A mutually acceptable system by which US citizens can safely trade commodity futures options baaed on London exchanges may be established by the end of this year, Commodity Futures Trading Commission (CFTC) vice chairman John Rain bolt said.
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    • Article
      Lock icon World Bank chief says 'no' to US aid conditions
      525 3 Reuter AFP WASHINGTON, Thurs. Assistant Treasury Secretary for Monetary Affairs, Mr C. Fred Gergrten, said there are serious risks stemming from recent House action on the foreign aid appropriations bill. Mr. Bergsten said the World Bank views the same action extremely
      Reuter; AFP  -  525 words
    • Article
      Lock icon Carter: Let foreign banks deal in shares
      267 3 Reuter WASHINGTON, Thurs. The Carter Administration has urged Congress to permit current securities operations of foreign banks to continue as part of any new legislation regulating these banks. The US Treasury Department, in testimony before a House sub-committee, supported permitting foreign banks to
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    • Article
      Lock icon Producers to get US govt aid if sugar talks fail
      257 3 Reuter WASHINGTON, Thurs. The Carter Administration will take steps to protect US sugar producers fron financial ruin if iapisdliC International sugar talks fail, US Agriculture Secretary Mr. Bob Bergland said today. He told a Senate Finance Subcommittee that the American
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    • Article
      Lock icon Jobless in France hits record in June
      205 3 Reuter PARIS, Thru*. French unemployment rose to a post-war record high of 1,150,800 seasonally adjusted In June from 1,096,700 In My, the labour ministry Unadjusted unemployment fell to 967,100 from 976,100 In May, while in June last year, unemployment was 996,700 adjusted and
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    • Article
      Lock icon France's inflation to slow down
      98 3 Reuter PARIS, Thurf. France's rate of Inflation should slow appreciably In the last months of this year compared with current levels, Banque de Paris et des Pays-Baa, said. In Its latest economic bulletin. It said the aovernment's antl-lnflatlon programme, recent falls In raw material import
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    • Article
      Lock icon New Panama canal plan
      71 3 AFP WASHINGTON, Thurs. Senator Mike Gravel, the Alaska Democrat, yesterday proposed to President Jimmy Carter the building of a sea-level canal across Panama to reduce oil transport costs from Alaska to the eastern and central United States. Such a canal could be owned and run by
      AFP  -  71 words
    • Article
      Lock icon Euro $ loans fall $6.4b
      111 3 Euro loans fall $6.4b Reuter WASHINGTON, Thurs. Liabilities of US banks to their foreign branches fell U552.63 billion (856.46 billion) to Si.9l billion in the week ended July 6, the Federal Reserve Board said. This left Eurodollar borrowings $1.4 billion behind a year earlier. US commercial and Industrial loans outstanding
      Reuter  -  111 words
    • Article
      Lock icon Petrochem project
      59 3 Reuter TEHERAN, Thurs. Iran and Switzerland have agreed In principle to build a petrochemical complex with a total Joint Investment of US$3 billion (5J7.4 billion), according to an economic protocol signed here. The Finance and Economy Ministry said the protocol, which gave no other details of the project,
      Reuter  -  59 words
    • Article
      Lock icon Credit policy unchanged
      50 3 Reuter PARIS, Thurs. The Bank of France announced its credit policy is unchanged. There had earlier been •peculation the Central Bank's lowering of its paper rates on Monday might be the forerunner of a cut in bank rate when it held its regular fortnightly meeting today. Reuter.
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    • Article
      Lock icon Concorde not necessarily noisier
      317 3 Reuter NEW YORK, Thurs. Most people living near London's Heathrow Airport do not find the AngloFrench Concorde supersonic airliner more disturbing than other planes, according to a report commissioned by airport offlcals here. But the report, made available today, said the question of Just how much
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    • Article
      Lock icon ECSC gets $152m from French banks
      113 3 Reuter BRUSSELS, Thurs The EEC comlsslon said it has signed an agreement with a consortium of French banks to make a 300 million French franc (*****.1 million) 11 per cent 12-year loan for the European Coal and Steel Community, to be Issued at par
      Reuter  -  113 words
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      169 2 Always fighting to make the world safe from fire. r" MM! 0 mMwjimtt iiiiiiiam o r W > ■V *<Xk For four dacadw GRAVINER has bwn an mora sophisticatad and afficiant. And ptonaaring tha in-flight fira protaction aystam for Concord. lm»n«ion< «**rtiog <M of fir, «m am QRAVIHM <mH~ «mMI»d
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      323 2 THE WEATHER WEATHER report for 24 hour* prior to 7.30 p.m. on July 14 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month RADIO TV SINGAPORE 5 3.00 PM Opening announcement!
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      110 3 Ww'. i i I f I! II N Y rt a 5V KOMNSONS 01 CUFFORD CENTRE, RAFFLES PLACE. SffsJGAFORE I.TEL Shopping Hours: Monday t to Saturdays 9.30 am 6.00pm Main Store: Specialists' Shopping Centre, Orchard Road, Singapore 9. Tel: *****2 ROBINSON'S RETURNS TO RAFFUESJPtACE GRAND OPENING: MONDAY JULY 18 AT
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  • COMPANY NEWS
    • Article
      Hongkong and Shanghai buys 20pc stake in MICO
      909 4 HONGKONG and Shanghai Banking Corporation has acquired a 20 per cent interest in MICO Equities Incorporated, the Manilabased parent company of the Malayan Group of Insurance Companies, which has branches in South-east Asia, the United States, Europe, Australia and Africa. A MICO
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    • COMPANY MEETINGS
    • Article
      Stiffer competition pulls down profit at George Town
      464 4 DESPITE mounting competition, which eroded George Town Dispensary's profitability last year, chairman Mr. William J. Huntsman remains confident about the company's future. Pre-tax profit for the year ended Jan 31, 1977 dropped 16 per cent to $104,000. However, compared with the previous
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    • Article
      DIVIDENDS ANNOUNCED
      294 4 1 n Ex Data Data payable Total for the year Total for previews year OCM bYuStn 17.5* 6.5* June 9 June21 July 15 July 15 17.5*1 6.5* 35* 7.5* 0. bruHt Malaysiaa MilnAikNtM SiaHaagChaa 29.3* 10* 27.5* 15* June 21 June 24 June 23 June 15 July 15
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    • Article
      Lock icon Brokers claim UK lager prices too high
      486 4  -  By K. GOODING F.T. BOTH BREWERS and publicans have been profiteering from lager, according to a report on the brewing Industry by stockbrokers Wood, Mackenzie and Co. Mr. Lan Mcßean, author of the report, also suggests that forecasts that lager will eventually account
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    • Article
      ICL workers get option offer
      209 4 LONDON, Thurs. Employees of ICL, the computers group, may soon have the chance to buy a stake in their company through a "save-as-you-earn" scheme. A maximum of 2,502,657 ordinary £1 shares, representing V/i per cent of the present capital, will be granted under the proposed
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    • Briefly
      • Article
        Lock icon Barclays reaches agreement
        69 4 Reuter KINGSTON, Jamaica, Thurs. Agreement in principle has been reached to nationalise Barclays Bank of Jamaica Prime Minister Mr. Michael Manley said. He told Parliament letters of agreement will be exchanged this week and the final detailed agreement signed in October. "We Intend to use Barclays to
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      • Article
        Lock icon EIB issue
        49 4 Reuter BRUSSELS, Thurs. The European Investment Bank is expected to float a 500 million Luxembourg franc bond issue next week, bond sources said. Final terms have still to be fixed but are expected to be 8K per cent for ten years. Lead manager is Kredletbank Luxembourgeolse. Reuter
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      • Article
        Lock icon Kaiser gets go ahead
        75 4 Reuter BUENOS AIRES, Thurs. The Argentine Government is allowing the US Kaiser Aluminium and Chemical International and Southern Nitrogen to repatriate an overall US$l4.7 million from their assets here, the Foreign Investment Department said. Kaiser Aluminium and Southern Nitrogen own 70 and 30 per cent respectively
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      • Article
        Lock icon Telmex seeks loan
        66 4 Reuter BRUSSELS, Thurs.— Mexico's state controlled telephone co, Telmex, Is expected to seek US$2O or $25 million through the issue of seven-year notes on the Eurobond market, bond sources said. Terms have not yet been fixed, but the notes will probably carry a nine or OW per
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      • Article
        Lock icon Jogobanka issue
        82 4 Reuter LONDON, Thurs. Jogobanka, the principal Yugoslav Bank for financing foreign trade, is raising US$2O million through an issue of floating rate notes due 1083, Loeb Rhoades International said. Interest on the notes, which will be issued at 99 per cent, will be t payable semi-annually in arrear
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      973 4 Citicorp A Subtidioriet CONSOLIDATED STATCMINT OF CONDITION (In Thousands) AttOtt Cash and Due from Banks Deposits at Interest with Banks Investment Securities Trading Account Securities Loans, Net Federal Funds Sold and Securities Purchased Under Agreements to Resell Direct Lease Financing Customers' Acceptance Liability Premises and Equipment Other Assets (Including approximately
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon GEC improved earnings meet expectations
      328 5 NORTH AMERICAN COMPANIES Reuter GENERAL ELECTRIC chairman Mr. Reginald H. Jones said the improvement shown In this year's second quarter earnings is In line with expectations for continued improvement In 1977 over 1976, despite strengthening during the later months of last year. The company made
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    • Article
      Lock icon Commercial Credit boosts Control Data profit
      228 5 Reuter CONTROL DATA a computer products and service company, achieved a 26 per cent gain In second quarter profit and a 21 per cent gain for the first half. Net earnings for the second quarter totalled US$l4.6 million, or 85 cents a share, up
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    • Article
      Lock icon Higher costs cause LOF profit decline
      225 5 Reuter LIBBEY OWENS FORD, a major producer of building and auto glass, reported a one per cent drop in second quarter profit, which it blamed on higher operating costs not fully recovered by higher prices and on foreign currency reverses. Second quarter net earning
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    • Article
      Lock icon Allis-Chalmers upturn
      101 5 AllisChalmers upturn Reuter ALLIS-CH ALMERS said its first half earnings increase was achieved despite the effects of strikes at some of Its plants and a softening of the agricultural equipment market. Sales of agricultural equipment were relatively flat in the first six months and earnings decreased from the 1076 level
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    • Article
      CHICAGO BOARD OPTIONS
      1521 5 On June 13 TRADING on the Chicago Board Options Exchange came to 104,535 contracts on Wednesday compared with 98.887 contracts on Tuesday. OPTION JLY OCT JAN STOCK Alcoa SO 1 3/4 UNTRD 4 1/2 91 3/4 Alcoa SO UNTRD 5/18 UNTRD 91 3/4 Am Tel 56 7
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      Indonesian contract
      53 5 INDONESIA has awarded an US$BOO,OOO contract to Riley of Chicago to provide a 216,000 gallon-per-day desahnator, the company said. The company said that the new order brings total Indonesian contracts for fresh water equipment to more than $2.5 million. The desallnators are used to provide fresh water to
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    • Article
      AMEX
      21 5 THE AMERICAN Stock Exchange said It win begin trading options on Polaroid, RCA, Occidental Petroleum and Itel on July 18.
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    • Article
      Lock icon CBS second quarter up
      189 5 Reuter CBB reported a 15.5 per cent gain In profit for the second quarter, but said the fain In profit did not keep pace with revenues. CBS said It earned U8554.9 million or $1.95 a share, for the quarter, up from $47.5 million, or $1.67 a
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    • Article
      Lock icon Allied Chemical income soars
      172 5 Reuter ALLIED CHEMICAL, one of the largest US chemical companies, said that its energy operations helped boost second quarter profit sharply ahead of last year. Becond quarter net Income totalled U5562.25 million, ($2.22 a share), 67 per cent ahead of the yearquarter's 637.18 million, For the
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    • Article
      Lock icon INTL PAPER SUFFERS SHARP DOWNTURN
      162 5 Reuter INTERNATIONAL PAPER the largest U8 paper producer reported a sharp drop In second quarter earnings. IP said profit dropped to U8850.1 million, or 81.26 a share, down 20 per cent from the year-ago quarter's 883.5 million, or 81-88 a share. Chairman J. Stanford Smith
      Reuter  -  162 words
    • Article
      Lock icon Pan Ocean reports Brae oil flows
      234 5 Reuter MARATHON OIL said its Pan Ocean Oil unit encountered significant oil flow rates of up to nearly 7,000 barrels per day in testing well 16/78 In the Brae Field of the British North Sea. The company said the well, drilled to a depth
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    • Article
      Lock icon BankAmerica expects to increase cash dividend
      136 5 Reuter BANKAMERICA said It expects to recommend an Increase In the cash dividend later this year. The company, parent of Bank of America currently pays 20 US cents a share quarterly. Bank America said in a statement It expects second quarter operating profit to
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    • Article
      Lock icon Kellogg, Tropicana agree to merge
      110 5 Reuter TWO COMMON American breakfast Items Tropicana orange Juice and Kellogg cereal will hereafter be produced by the same company. Tropicana Products on Wednesday announced that It had agreed to a merger with Kellogg through a stock exchange In which 1.55 shares of Kellogg shares
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    • Article
      Lock icon Ajinomoto forecasts better results
      143 5 Reuter TOKYO, Thurs. AJlnomoto said It expects after-tax profit of 2.70 billion yen for the half year ending Sept 30, 1977 compared with 2.58 blUlon In the same period last year, on sales of 100.00 billion yen (143.71 billion). A company spokesman said, however, the profit
      Reuter  -  143 words
    • Article
      Lock icon PNR 20 locomotives purchase from GEC
      123 5 Reuter MANILA, Thurs. The government-owned Philippine National Railways (PNR) said It will buy 20 dlesel-electric locomotives from General Electric of the US for delivery In mid 1979, designed for heavy duty passenger and cargo service. A PNR spokesman said financing for the 70.5 million
      Reuter  -  123 words
    • Article
      Lock icon Saudi deal
      36 5 Reuter TAIPEI, Thurs.- The RetSer Engineering Agency of Taiwan has won a US$lOO million contract to build a 58 km highway from Abha to Sharp In Saudi Arabia, the Central News Agency said. Reuter
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    • Article
      Lock icon Bank of England okays bond plan
      204 5 UK COMPANIES Reuter THE BANK OF ENGLAND has accepted In principle the Idea of a variable Interest rate long term bond for UK municipal authorities, a Bank of England spokesman told Reuters. The spokesman said the bank was prepared to accept proposals from authorities
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    • Article
      Butterfield-Harvey buys interest in Grimsby
      176 5 BUTTERFIELD HARVEY has acquired a 76 per cent Interest in Grimsby Caravans which, with its subsidiaries Mustang Caravans, Glen Leisure (Caravans) and Sorrenhurst Is concerned with the manufacture and distribution of caravans In the UK and overseas. The Grimsby GroOp's operations are centred In Grimsby,
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    • Article
      DAY TEACHER SHARES ROSE 36P
      437 5 A 810 JUMP in the share price of Teacher (Distillers), the Scotch whisky concern, ahead of the announcement of an £18 million bid for the company from Allied Breweries took place during a week when some 50 Teacher shareholders were consulted about a possible takeover
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    • Article
      Lock icon Kloeckner Werke planning 1,500 jobs reduction
      196 5 Reuter DUISBURO, Thurs. Kloeckner Werke plans to cut back over 1,500 Jobs by the end of this year If possible, a company spokesman said. At Its steel plant In Bremen around 450 administrative Jobs will be cut from a 7,000 workforce, In the Qeorgsmarlenhuette
      Reuter  -  196 words
    • Article
      Lock icon ECSC loan
      64 5 Reuter BRUSSELS, Thurs. The EEC Commission announced a £53 million loan to Britain's National Coal Board from the EEC Coal and Steel Community (ECSC). The loan will help finance 10 projects at different pits around the country and will be paid out as work Is done. Terms will
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    • Article
      Fiat issue
      35 5 LONDON, Thurs. The Flat Finance Corp US$75 million Euronote Issue with an eight per cent coupon and due 1982 was priced at §ar. Union Bank of wltzerland (Securities) said as Joint lead manager.
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      Page 5 Advertisements Column 1
      69 5 cAn Enduring Relationship 4 n y a rAnA Enduring WHm M 'Taste 1 r—. <• ft t>'--I; Y J*V, MV 'v r i SALIGNAC COGNAC y L. 0* T" t The French certainly know how to age and mature a Cognac. Sahgnac-warm, amber satisfaction in a dark, silky green bottle
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  • Article
    Share Information Service
    2315 6 itn us* Law 1 Company tela +ar- «bv Dhr e'rr tar's f Nat P/l Vel (•888) Day Law SECTION ONE INDUSTRIALS 154 204 06 215 101 198* 163 210 302 171 136 172 58 212 57 155 152 182 350 145 Aetna Alcom Allied Choc Bat* Ben
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    Transactions in Singapore
    1475 6 BID and offer prices officially listed and business In and reported to the«tock 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 5. ted after the word "Sett Board deals
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    In Kuala Lumpur
    1608 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 specified INDUSTRIALS AJlnamata (2 008) Alaam (1) 1.84. A. Chac. (0.90B) (3) 0.81. A-M.O.
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  • Article
    Stock options
    50 6 STRIKING price* at the stock options officially listed on the Stock Exchange of Singapore the periods, bid aad offer prices and business done yesterday, with the number of options traded shown in brackets. Inchcape (Sept $2.40) (0.148 0.155) (4) 0.14. U. 0.8. (Dec $3.20) (0.168 0.255). (March-$3.20) (0.228).
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  • Article
    Unit trusts
    139 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Mmfi' prion tar July It) (Currsat p ■ieas) The Commerce.... INCOME BOND 1.90 1.12 1.70 i.ao The Smrlng Fund 0.97 102 MARA BUMIPUTRA FUND 8'pore Prog Fund S pore Security 0.85 0.90 First Bumlputrm ssr July 2 12 2.17 Fund 1.59 198
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  • Article
    CORPORATE BONDS
    145 6 B O T 8 1/2% 1981 (100,000) (102HB 103 WS) B O T 7 VB% 1164 (IM.OM) (M«.B 99^8) Credit Lyonnais Floating 1983 (IM.OM) (98SB MViS) D B 8 Converts 1/2% 1991 (IM.OM) (98HB 98%5) D B S 8 1/2% 1962 (100,000) (10mB 102Vh8) E I B 9%
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  • Article
    GOVERNMENT BONDS
    117 6 Rep Spore D Mark 7% 1962 (100,000) (IM*B 101WS) Rep Spore D Mark 6 1/2% 1963 (100,000) (MVfcß99*S) Rep Spore 7 3/4% 1987 (IM.OM) (100NB 101HS) 5 1/4% 15/7/78 (250,000) (101.508 101 60S) 4 3/4% 1/5/79 (250,000) (100.808 100.908) 4 3/4% 1/1/79 500.000) (1) 100.90 5 1/4% 15/16/79
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      39 6 9 Vftl f ft i > r '#1 'N 1 L 4> *IS K *V- I) V v*f I, I w V All flights leave Sing for Amsterdam, with immedic to U.K., U.S.A., Canada, South America, major Europe and Afric
      39 words
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  • Article
    SES RISES SHARPLY
    598 7 SHARE PRICES held steady to firm ia nbeUn trading on the Slock Exchange of Singapore yeeter- hoctic at timee, reeulting in sharp price movements ranging up to 25 per cent at the height of the buying activity among the active shares. With price increases of 10 cento
    598 words
  • Article
    ACTIVE KLSE HOLDS FIRM
    409 7 SPECULATIVE support continued strong on the Kuala Lumpur Stock Exchange yesterday as a number of selected issues were actively sought at higher levels. Trading showed a firm bias right from the opening bell and the market advanced steadily ahead with the speculative stocks again setting the
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  • Article
    Lock icon S. Miguel's export plan
    80 7 Reuter MANILA, Thurs. San Miguel said It Is Initiating an export marketing programme desglned to raise Its total export earning to US$BO million by 1980 from $4 million In 1976. Items to be exported Included Magnolia Ice cream, Mangnolla dressed chicken. beer, packaging materials, glass, mushrooms
    Reuter  -  80 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      389 7 HONOKONO: Share prices cloosd lower across the board on Thursday, with a fail In the morning accelerated by news the North Korean army shot down a US helicopter, dealers said. The Hang Seng Index loet 3.87 points to finish at 431.87. They said this news brought selling in a
      389 words
    • Article
      Tokyo
      475 7 TOKYO: Share prices closed lower on liquidations In blue chips in line with the overnight fall on Wall Street, dealers said on Thursday. The Dow Jones Average lost 25.76 to close at 5,028.78 with volume 270 million shares. The New Index closed at 378.09. down 1.05. Export-oriented electrlcals and
      475 words
    • Article
      Sydney
      462 7 SYDNEY: Uranium stocks were actively traded In the afternoon on reports the Fox enquiry recommended In favour of uranium mining, with Paaceatiaeatal recovering from morning losses to close 20 cents higher at 811.30, dealers said on Thursday. The Sydney All-Ordinaries Index gained 0.96 point to close at 454.84. ITsikleea
      462 words
    • Article
      Manila
      130 7 MANILA: The market closed mixed on Thursday with commercials advancing fractionally and minings ana oils easier, dealers said. Turnover climbed to 6.69 million pesos from Wednesday's 4.28 million. Atlas lost three potato but Upaats roes one point among minings. In ods, Seeftent lost four. JULY M Peaoa AcoJeMlntnc .1;.
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    • Article
      Bangkok
      89 7 Asia Fibre •1 uneh 1 i l r»" A: «j •S BerliJucker -3 Charoonf Thai 171 Wire -3 Dumex Dusit Thanl P&bcr MerUn Plrst Trust 1468 Indo-Thal ins -3 Industrial Finance Corp 1X15 unch 4-1 J And J Ho 238 Jalaprathan Oment ia •1 Kamasuta Lee KwangMln Metal Box
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    • Article
      Amsterdam
      299 7 AMSTERDAM: The market closed slightly higher on Wednesday and Uailsver led Dutch internationals 0.50 guilders firmer although P hill v.- fell 0.10 against the trend, dealers said. Most banks firmed and Insurances were mixed. Shippings fell led by Oiaswa which closed 3.50 down while KLM firmed. Trading and Industrial
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    • Article
      Brussels
      155 7 BRUSSELS: The market «u again mostly lover In quiet trading, dealers said on Wednesday. Local issues to rise against the trend Included FN, Solvay and St-Bacfc, while falls' Included Cebepa. CBS, A(M, Clabecq, Tneta and Haiaaut--Bam bre. UK and German stocks were mostly higher, Dutch Issues little changed. U8
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    • Article
      Frankfort
      303 7 FRANKFURT: Sht.es closed mixed on Wedneeday with a slightly firmer Mas In uncertain trading as operators wait to see If the Bundesbank makes any credit policy changes on Thursday, bourse sources mid. The firmness of the mark tended to weaken the shams of some export-orientated companies with motors falling
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    • Article
      Milan
      151 7 MILAN: The market closed Irregularly higher In quieter selective trading, dealers said on Wednesday. Most leading industrials firmed but Pirelli E.C.. both Olivetti and Ma Vlacoea eased against the trend. Mrthkun gained marginally In banks while ftnanclals were generally higher Aaafcurasiaai Generali also firmed In Insurances. Bonds were fairly
      151 words
    • Article
      Paris
      318 7 PARIS: The market was mixed on Wednesday with an easier bias although some early losses were recovered after foreign bU "?rudtn(fwas\hln < \n line with local holiday s on Wednesday and Thursday. Electrlcals, engineerings, foods and oils showed modest losses with moat other sectors mixed. Chemicals and golds were
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    • Article
      Zurich
      250 7 ZURICH: The market closed generally steady In continued quiet trading on Wednesday Influenced by the current holiday period, dealers said. Fluctuations were limited in all sectors. The exception was Bally, whose bearer and registered shares firmed on speculative buying. Among foreign shares, dollar stocks were mainly easier, Dutch issues
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    • Article
      Jo'burg
      382 7 JOHANNESBURG: Oold shares closed firmer on US Interest and small London demand. dealers said on WednesDealers noted U.S. demand for mining financial* where prices were also firmer. Coppers were narrowly mixed and platinums slightly softer. Asbestos Issues declined towards the close and there was little interest In tin shares.
      382 words
    • Article
      Toronto
      324 7 TORONTO: The market closed sharply higher on Wednesday In the busiest trading session In 14 months. The composite Index gained four points and advances led declines 267 to 149. The Oil and Oas Index was up more than 21 points. Tetedyae C«i«Hi gained t to 5-% on improved six
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    • Article
      New York
      1183 7 NEW YORK: Prices on the New York Stock Exchange closed virtually unchanged on Wednesday from Tuesday after late session buying reversed earlier losses. Analysts said the market got a lift in the final hour when the Dow Jones Industrial Average managed to stay above the 000 line. A
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    • Article
      Indices
      60 7 financial times INDUSTRIALS Wednesday 449 Tuesday 446-3 Week Ago 445.9 DOW JONES AVERAGE INDUSTRIALS SEST:::::::::::: 3S:S Week Ago 907 73 LONDON DOLLAR PREMIUM Wednesday 110* to 111*4 Tuesday to 111 H.K. HANG SENG Wednesday 435.74 Tuesday 436.65 Week Ago 437.16 SYDNEY INDUSTRIALS Wednesday 375-03 Tuesday j«4.»4 Week Ago 374.41
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      136 7 ROPE and UK/IRELAND mr i fia^ ROYAL DUTCH AIRLINES G2 Mandarin Hotel Arcade, Orchard Road, Singapore 9.Tel: *****1 Hotel Merlin. Jalan Sultan Ismail, Kuala Lumpur, Malaysia. Tel: *****/7/8 From Amsterdam, you can take a connecting flight straight to the airport at or nearest your hometown. By avoiding the inconvenient and
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      449 8 OPENING quotations in the Singapore rubber market yesterday were marked down 0.50 cent following easier London advices in thin trading. Prices later recovered on some covering of August RSS One .dealers said. Forward trading was small while physicals were neglected. The morning session closed quiet
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    • Article
      R.A.S. PRICES
      303 8 Noon Close (per kilo) (per kilo) Buyer* Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 189.00 190.00N 189.50 190.SON Int. 1 R S S August 190.50 190.75 191.00 191.50 Int. 1 RSS September 192.00 192.50 192.50 193.00 Int. 2 RSS 117.75 186.75N 188.25 189.25N UK/Cont. 186.75 187.75N 187.25
      303 words
    • Article
      SSR AND SMR
      78 8 tt.A.8. A« (Cam Mlftfc) (Porwiui Mtk) DNI Saltan D«j»» Man (carta )*kD (oau P«l«> SSR 20 (1-ton Pallet) 190.90 191. SON 191.90 192.SON asRso (1-ton Pallet) 117.50 199. SON 199.90 199.90N MJLE.UB. SMR5CV (1-ton Pallet) 212.75 214.79N 212.79 214.79N 8MR5L (1-ton Pallet) 210.2S 212.29N 210.K 212.29N SMR5
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    • Article
      Closing prices
      30 8 Rubber: July 14 Singapore: August 191.10 eta £p 0.75 ct) ysia: August 192.50 cts (up 1.00 ct) Tin: $1,550 (up 635) Official offering: 366 tonnes (up 15 tonnes)
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    • Article
      Rice
      105 8 HONQKONQ, Thurs. The market was up to 40 cents higher, dealers said. Turnover totalled 383 tons comprising Thais 112, Kwangtungs 190 and Australia* 81 tons. There were no arrivals. Thai White: 100 per cent old crop lit clan 102.00 N 2nd 101.00 ilr 3rd 99.50 sir Spl 3 per
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    • Article
      Produce exchange
      479 8 COMMODITIES finished generally mixed on the Singapore produce market yesterday. Poor acceptances by foreign buyers were reported for most commodities. Coffee bean prices ruled from steady to firm in line with the strength In the overnight London terminal market. Reports reaching here that some of the American roasters
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    • Article
      Cocoa
      295 8 LONDON, Thurs. Market reports, later confirmed,of an 8.2 per cent drop in West Oerman second quarter grlndlngs from the year ago quarter sent terminal cocoa Into an Immediate decline at the opening call. Unrestricted spot July traded down by £52 on long liquidation and commission house selling and near
      295 words
    • Article
      Hongkong comex
      228 8 HONGKONG, Thurs. The cotton futures market closed higher in quiet trading, in line with the overnight rise in New York, dealers said. Trading was centred on March, with commission house buying support and profit-taking. March closed 0.47 US cent higher, they added. December rose 1.28 US cents, while
      228 words
    • Article
      Palm oil
      54 8 C.I.F. Rotterdam. U8 dollars per ton. LONDON: Wt4mm4my hn. Malaysia 5* ffa bulk unq unq Sumatra 5* July unch 510 pd Aug 495 qtd 400 pd Sept 445 qtd Oct. WOqtd 407.50 405 pd NtfMlan (fa bulk unq unq ROTTERDAM Sumatra July 909 sir SOSpd/slr Zaire Belg francs
      54 words
    • Article
      Straits tin market
      208 8 THE Straits tin price in Penang yesterday was up $35 to $1,550 on an official offering up 15 tonnes to 205 tonnes. In LONDON yesterday, tin showed gains of around £7.00 for cash and £25 for Three Months In both contracts. The recovery at Penang coupled with
      208 words
    • Article
      Sugar
      216 8 LONDON, Thurs. Terminal sugar advanced by £2.65 (near August at £104.25) to £1.10 at the opening call and hardened further In reasonably active open trading. The London daily raws price was up by £4.00 at £103 per tonne but whites were unchanged at £114.50. Sugar futures closed the morning
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    • Article
      Coffee
      440 8 LONDON, Thurs. Coffee futures generally declined after Initial gains. By midmorning prices were mostly £14 (September at £2427.50) to £35 down. (March at £2,182.50). Prices had advanced at the start of the opening call with September trading about £00 higher at £2,500 reflecting the advance In New York. Turnover
      440 words
    • Article
      Soybeans
      142 8 CHICAGO, Thurs. Soybean futures yesterday morning broke the series of recent steep declines, advancing the 30-cent limit in the three nearby months to 26 cents a bushel. Soybean futures finished the day locked the 30-cent a bushel limit up across the board. Closing prices ranged from a low of
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    • Article
      CBOT
      25 8 CHICAGO. Thurs. Lower margin requirements for soybean, soybean meal and soybean oil futures contracts will take effect today, the Chicago Board of Trade announced.
      25 words
    • Article
      Wheat
      96 8 CHICAGO, Thurs. Wheat futures moved up sharply yesterdav morning, advancing stt to 4tt cents a bushel, about one cent off the highs. The USDA 1977 wheat production estimate of 2,044 million bushels was a neutral figure In line with expectation and has been essentially discounted in the market, traders
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    • Article
      Gold
      459 8 OOLD opened higher at 5511,534 In the Singapore gold market yesterday. Prices eased quickly to close for lunch at 5511,471. After lunch the market firmed sharply on the Korean hellcopter incident to open at 5511,487. Prices continued to rise sharply to close at 5511,522. Trading In the loco London
      459 words
    • Article
      Zinc
      102 8 LONDON, Thurs. Zinc in the morning was up £0.75 for cash and £2.00 higher for Three Months. The market lacked fresh feature but held basically steady in sympathy with the general trend, dealers said. Three Months touched £331 in the pre-market but subsequent profit-taking and hedge selling took the
      102 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        608 8 YESTERDAY turned out to be a very quiet day for dealers in Singapore's Interbank money market. Overnight monev rates held steady at the four per cent level for the greater part of the day. Opening at 4% per cent overnight money was for a little while traded up to
        608 words
      • Article
        Asian $ rates
        161 8 Asian rates ASIAN currency deposit interbank rates as at cloae on July 14 US Dollar* (Spot) Offer Bid 7 days 5 1/2 5 3/8 1 mth 5 5/8 5 1/2 2 tilths 5 3/4 5 5/8 Smths 5 7/8 5 S/4 mths Vl« 1/1# Smths 6 1/4 6 1/8 12
        161 words
      • Article
        Discount
        48 8 RANGE of price* offered by discount houses on July 14. Overnight 2 to 3% Call deposit SH M— Bay 3 Month Treasury bills 3 3-Month Bank bills 41/8 3-Month CD 4 9/16 Month CD 4 lint Selling 27/a 4 4 7/H 41/3 Source: National Discount Co Ltd
        48 words
      • Article
        Euro $ rates
        24 8 Euro rates LONDON, Thurs. Eurodollar deposit rates held steady at opening levels in quiet trading, dealers said. LONDON Eurodollar depoatta opening quauwon July 14.
        24 words
      • Article
        Frankfurt
        34 8 FRANKFURT exchanges opening quotes on July 14 US 2 2835/45 CtttlMMI UK 312m Ncth 93 22/32 Swltl M.S6/S5 IUUjr 2.M4/S44 Ftinct 46.94/47.04 Nor* 43.30/31 Br If com 41/43 Belf fin 6.30/41 Japan 0.M2S/3S
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      • Article
        New York
        157 8 NEW YORK, Thurs. The dollar reversed its downtrend yesterday in fairly active trading to close slightly firmer on balance than Tuesday night after a very depressed opening, dealers said. The mark dropped to a closing 43.79/81 cents from the opening 43.85/87 but was above its overnight 43.74/76. The
        157 words
      • Article
        London
        167 8 LONDON, Thurs. The dollar recovered in moderate early trading against the mark and yen on some profit-taking and shortcovering, dealers said. The dollar traded at 2.2835/45 marks, up from 2.2798/2808 overnight and at 264.75/90 yen against 264.25/40 overnight and compared with today's 264.70 close in Tokyo. Sterling declined to
        167 words
      • Article
        Tokyo
        144 8 TOKYO, Thurs. The US dollar for overnight dellvery firmed to close at 264.70 yen, up from the opening 264.50 and 264.40 at yesterday's close, with central bank Intervention difficult to ascertain, dealers said. Initial firmness following an overnight rise abroad was extended as Japanese banks bought dollars to square
        144 words
      • Article
        Hongkong
        114 8 HONGKONG, Thurs. The US dollar firmed slightly, fluctuating within a narrow range against the mark to close at 2.2837/ 42 against New York's closing 2.2831 midpoint equivalent, in moderately active trading, dealers said. The yen weakened to 264.70/85 from New York's 264.48, while on the local market the US
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      • Article
        Australia/NZ
        59 8 AUSTRALIA/NZ exchanges on July 14 Auatralia: Sterling 0 6561/0 6492 US dollar 1 1254/ 1 1206 Ninety-day air mall buying rates Sterling 0.6747 US dollars 1.1512 Ninety-day forward buying rate* Sterling 0 6568 US dollars 1.1142 New Zealand Sterling 0 5660' 0 5628 US dollar 0 9784/ 0 9684
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      • Article
        Zurich
        51 8 ZURICH exchanges closing quotes on July 13 US 2 4113/ 4123 UK 2.1470/1500 CUMk 2.2730/2770 Weft Germany 105 85/75 Netherlands 98.44/57 Prance 49.62/67 Belgium 8.78W/7* Denmark 40 44/47 Norway 45 78/81 Sweden 55 41/45 Italy 0 2728/2730 Austria 14.91/93 Portugal 8 25/27 Spain 2 77/79 Argentine 0.55/86 Japan 0.91/91
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      • Article
        Eurobonds
        306 8 LONDON. Thurs. Eurobonds traded little changed in continuing quiet conditions, dealers said. Convertibles followed the quiet tendency and were unchanged. LONDON Eurobond prices on July 14 Straights Bid Offer Austria 84 90 1014 1024 Bell Canada 84 8« 1054 1064 BFCE 8*4 83 1014 1024 Brazil 94 84 98
        306 words
    • Article
      Copper
      331 8 LONDON, Thurs. Copper wire bars finished the morning with cash unchanged and Three Months £0.50 higher. i values made some ground on the premarket on moderate covering encouraged by the late lift at New York, some demand from West Germany this morning and the strength in gold, dealers aald.
      331 words
    • Article
      Silver
      178 8 LONDON, Thurs. Silver closed the morning with gains of 0.3 to 0.5 pence, values were marked up initially reflecting the overnight gains at New York and higher gold this morning, dealers said. But after holding steady In early trading prices eased under prof it-taking prompted by the trend in
      178 words
    • Article
      Lead
      119 8 LONDON, Thurs. Lead closed the morning with gains of mostly £6.00 per tonne. The market found further covering support against recent physical business to Eastern Europe, dealers said, together with some buying In anticipation of additional sales In that direction. Three Months traded up to £340 50 per tonne
      119 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      185 8 1 r 111 MONTHLY ECONOMIC REPORTS With monthly political luppbiMnt for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in Eost and Southeast Asia. The
      185 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon FEC lines change their minds
      213 9 Reuter NEW YORK. Than. Shipping companies US Lines and Maersk and Feeco haw agreed not to withdraw from the Far East Conference and Waterman, American Export Linee and Barber have extended their 60-day notice of resignation, following a meeting here this week. Far East Conference
      Reuter  -  213 words
    • Article
      Lock icon Wuhan motor vehicle output
      169 9 AFP HONGKONG, Thurs. The Wuhan motor vehicle plant In the central China province of Hupeh produced 001 vehicles In the April-June quarter, a provincial radio said yesIt Is understood that most car factories In China have been producing lorries for Industrial, and constructional uses. Only a
      AFP  -  169 words
    • Article
      MSAS agreement
      87 9 McGREGOR Swire Air Services (MSAS) has concluded a three-year collective agreement with the Straits Steamship Labour Organisation, which represents the employees of MSAS In Singapore. The new agreement, which provides for the enchanced security and benefits of the employees. became operative from July 1. The regional managing director
      87 words
    • Article, Illustration
      HK SHIPOWNERS HIT OUT AT U.S. PROPOSAL
      623 9 HONGKONG. Thurs. Major Hongkong shipowners said they object strongly to proposed legislation In the US to give U8 flag ships a larger proportion of oil Imports. Mr. Y. K. Pao, chairman of the World-wide Shipping Group, Issued a statement saying the US moves
      623 words
    • Article, Illustration
      Soviet expansion plans
      335 9 THE Soviet Union will Increase freight turnover by 30 per cent, in its 10th fiveyear plan period (1976 1980), if all its efforts to improve port facilities are successful. Up to 92 per cent of all loading and unloading operations will be mechanised and the length of
      335 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      210 9 AP LONDON, Thurs. Time chartering produced most of the interest on the London freight market yesterday during a rather tack lustre day. This was spread liberally around the market, with the Oreat Lakes and St. Lawrence featuring as quite popular delivery areas. Westwlnd Africa Line booked the
      AP  -  210 words
    • Article, Illustration
      IN PORT
      278 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry VUJa (B. Barge) (1000) 48 Falrsky (0700 3/4 Fuso Maru (JBXT) (1000 after Nedlloyd Katwljk) 14/15 Korean Prince (1400 after Muse) 29/30 Kristin Bakke (after Seaspeed Arabia) 47 Lunshan (after King Lake) 22 Rosarlo Maru (JIXJ) (after New Ocean) 38/39 SEMBAWANO PORT
      278 words
    • Article
      Japan promoting sale of imported cars
      429 9 THE Japanese are not hostile to the penetration, by imported foreign cars, of their domestic car market. Quite a contrary, Japan Is now promoting the sale of imported cars in a series of broadening mores, the Mitsubishi Bank said. The Import and distribution system,
      429 words
    • Article
      Lock icon General Motors vehicle recall
      147 9 Reuter DETROIT, Thurs. General Motors said It will recall some 13,000 Chevrolet and OMC 1976 and 1077 cutaway vans, light duty motor home chassis and light duty truck chassis to replace brake master cylinder reservoir mounting bolts. On some of thses vehicles, the bolts that retain
      Reuter  -  147 words
    • Article
      Lock icon Tonnage record
      106 9 AFP NEW DELHI, Thun. India's shipping tonnage has passed 5,000,000 tons during 1976-77, It was officially stated yesterday. This rapid increase made India the only maritime developing country In the world with an operative tonnage of above 5,000,000 claimed, the annual report of the Ministry of Shipping and
      AFP  -  106 words
    • Article
      Lock icon UK railway union's vote
      63 9 Reuter AYR, (Scotland), Thun. The British National Union of Rallwaymen's annual conference here voted by a majority for an orderly and gradual withdrawal from the "social contract" between unions and government on pay restraint. The conference rejected another resolution which called for the abolition of the
      Reuter  -  63 words
    • Article
      Lock icon Senate probe into CIA sale of Air Asia
      196 9 AP WASHINGTON, Ikon. The US Senate Select Committee an IntoUigenee Mid yeeterday H will laioodgnto the Central Intelligence Agency'* tab of Air A*U Ltd, following preoe reports that E-syetoaa Inc., an American aupplier of electronic equipment to the CIA, had purchased the
      AP  -  196 words
    • Article
      Lock icon Boeing windmill
      105 9 Reuter BOEING AIRCRAFT Is to build the world's biggest windmill as part of an experiment to see If wind turbines can generate electricity at reasonable cost. The US National Aeronautics and Space Administration (NASA) said the windmill would have a rotor span of 91 metres. The contract with
      Reuter  -  105 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      589 9 ARRIVALS Operator Number KAL KE807 CAL CI331 MA8 MH682 PAA PA847 OIA OA06O SIA SQ211 OIA OA944 OIA GA906 PAL PR501 RBA BI325 SIA 8Q240 KLM KL833 MAS MH684 SIA SQ201 THAI TG413 OIA OA982 SAS 8K973 SIA 8Q455 SN 8N287 A'FLOT SU559 SIA SQ203 OIA OA984
      589 words
    • Article
      Lock icon Fiat in joint airliner project
      145 9 UPI TURIN,Thurs Fiat Company has signed an accord with Pratt and Whitney of the United States and Motoren und Turblnen Union (MTU) of West Germany for lolnt study and development of a new airliner engine. It said the engine, called the JTIOD4, will have a
      UPI  -  145 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      3 9 SEE PAGE 1#
      3 words
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      Page 9 Advertisements Column 2
      87 9 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 months
      87 words
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  • Article, Illustration
    Lock icon Unions' pay demands rock the Lib-Lab boat
    1139 10  -  By ANDREW WALLER Reuter DEFIANCE of the British Labour Government's pay policy by powerful trade unions has raised the possibility that Prime Minister James Callaghan will be forced to call an early election. But Mr Callaghan has told the House of Commons that
    Reuter  -  1,139 words
  • Article, Illustration
    Lock icon America's deep concern
    960 10  -  By BERNARD GWERTZMAN NYT WASHINGTON: At the highest level of the Carter Administration, officials have expressed deep concern over what they perceive as a political and economic malaise throughout Western European governments and societies. The officials, Interviewed In recent days, said that these concerns will be raised
    NYT  -  960 words
  • Article, Illustration
    Lock icon The price of PX luxury
    582 10  -  By ALICE VILLADOLID NYT MANILA: As shopping arcades go, Nepo Mart, an hour's drive from here, would pass unnoticed were It not for its stocks of United States navy blankets, foam rubber pillows, breakfast cereals and colour television sets. Because of these and other state-side
    NYT  -  582 words
  • Article, Illustration
    Lock icon Choosing between death and prosperity
    964 10  -  Hie public hearings in London on the dangers of white asbestos have been taking place with the spectre of lingering death hanging over the proceedings. But there are more than 3,000 asbestos products, many of them indispensable to any industrial society. The choice is between
    FT  -  964 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      498 10 THE DEBT TRAP HOW TO SURVIVE x THE SLUMP V Business Management in Penguins The Debt Trap: Cheryl Payer The International Monetary Fund is the most power- I ful supra-national government in the world today. I This book is about the efforts of poor nations to gain some control over
      498 words
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  • Article
    Lock icon Japanese to reject sugar offer
    307 11 Reuter TOKYO, Thurs. Japanese sugar refiners will reject a final offer from Australian producers for a price cut in a A 11.2 billion (513.31 billion) five-year contract which began in 1975. Mr. Jack Campbell, deputy general manager of CSR Ltd, sales agent for Queensland sugar
    Reuter  -  307 words
  • Article
    Lock icon What developed neighbours can do for Asean...
    480 11 Reuter MANILA, Thurs. Philippines Finance Secretary Mr. Cesar Virata said today that Asean wants neighbouring developed nations to ensure stable export markets, provide more development finance and help set up processing of raw materials In the countries of origin. He also hoped they
    Reuter  -  480 words
  • Article
    Lock icon Japan likely to buy less goods from Thailand this year
    248 11 UPI BANGKOK, Thurs. The President of Thailand's Board of Trade said yesterday he is "disappointed" Japanese Importers are falling to buy more Thai goods. Mr. Ob Vasuratna, who headed the Thai delegation to talks in Bangkok between private businessmen of
    UPI  -  248 words
  • Article
    Lock icon Delegation in Tokyo
    137 11 Reuter TOKYO, Thurs. An Association of South-east Asian Nations (Asean) delegation arrived here today for talks with JaKnese government leaders fore Prime Minister Talc eo Fukuda visits the five member countries and Burma next month. The group Included Indonesian Trade Minister Radius Prawlro and Singapore's Permanent Secretary
    Reuter  -  137 words
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    Lock icon THANIN WARNING
    89 11 AFP BANGKOK, Thurs. Premier Thanln Kraivichlen yesterday warned a F-oup of visiting Japanese uslnessmen to show moderation In any possible aid projects to Vietnam. The Premier said that Japan, like Australia, New Zealand and South Korea, should help Thailand In Its fight against the communists because If Thailand
    AFP  -  89 words
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    Lock icon NZ's woes hang over her ties with Asean
    1371 11 Reuter WELLINGTON, Thurs. New Zealand, facing balance-of-payments and Internal economic problems, has no Intention of trying to "buy Its way in" to the Asean club at the Kuala Lumpur summit meeting next month, according to senior officials here. New Zealand Prime Minister
    Reuter  -  1,371 words
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    Lock icon Rubber stocks up
    57 11 Reuter STOCKS of rubber in Singapore at the end of April rose to 42,807 tonnes from 41,401 tonnes in March but fell from 43.623 tonnes in April last year, Statistics Department figures show. The April stocks comprised dealers' stocks 42,806 tonnes against 41,400 tonnes in February and
    Reuter  -  57 words
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    Lock icon Price of gold soars in Hongkong
    115 11 Reuter HONGKONG, Thurs. The local gold market firmed sharply In early afternoon dealings on news that a US helicopter was shot down In North Korea, dealers said. The market opened shortly after 1400 hours local time (0600 GMT) as against 1430 normally, and quickly
    Reuter  -  115 words
  • Article, Illustration
    Lock icon Mitsubishi to build ethylene plant in S. Arabia
    170 11 AFP TOKYO. Thurs. Saudi Arabia has promised to provide low-priced "bonus crude oil" for a planned petrochemical complex project by Japan's Mitsubishi Groin at Companies. This was revealed today by Mr. Minora Masuda, International Trade and Industry vice-Minister upon returning from a
    AFP  -  170 words
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    Lock icon EEC to be invited for talks
    68 11 AFP JAKARTA, Thurs. Indonesia plans to invite an EEC team headed by Edoardo Volpl, director for Asian Bilateral and Multilateral Relations for talks, aimed at including Java tobacco in the general system of preferences of the European Economic Community. The EEC now imposes a
    AFP  -  68 words
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    Lock icon Economic talks
    55 11 Reuter TOKYO, Thurs. West German Economic Affairs Minister, Hans Frlderichs, will visit Japan from July 25 to 29 as a guest of the Foreign Ministry, the ministry announced. Mr. Frlderichs will meet Prime Minister Takeo Fukuda and Foreign Minister, Ilchlro Hatoyama, to discuss economic relations between Japan and
    Reuter  -  55 words
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    Shipbuilding seminar
    86 11 A SEMINAR on the current shipbuilding situation In Singapore will be held today. It Is organised by Navlre Cargo Gear, Southeast Asia, and will allow ten West European marine Journalists to hold discussions with local authorities on the shipbuilding Industry here. Among them are Mr. Chua Chor Teck,
    86 words
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    Grocer wins claim
    102 11 THE High Court yesterday awarded $11,200 and costs to Mr. Llm Tlong Wah, a grocer, who claimed that he had not been paid his share of the commission for sale of a property In 1973 for $2.8 million. His suit was against Pek Yue Lai, a transport
    102 words
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    Lock icon Copra falls to new low
    48 11 Reuter MANILA, Thurs. Copra lost a further US$lO (Ss2s) on the local market today to a new low for the year at $300/ 315 a tonne fob, continuing a steady decline over the past month on lack of overseas interests, dealers said. Reuter.
    Reuter  -  48 words
  • Article, Illustration
    F & N group revamps division to boost sales
    330 11 F N group revamps division to boost sales THE FRASER and Neave group Is restructuring and streamlining Its marketing division to Improve sales. Under the reorganisation, Its soft drinks and beer. Including stout, divisions will be handled by two separate sales forces compared with one previously. The seven soft drink
    330 words
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    S'pore company to take part in HOUT fair
    212 11 ROTTERDAM will be the venue of HOUT 77, the international fair for the woodworking industry, from Oct 18 to 22. According to the organisers, Intradex 8.V., HOUT 77, is intended for manufacturers, traders and suppliers of the timber and woodworking industries and
    212 words
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      485 11 SEE PAGE 8 MAUIVsiAN BUSINESS, the monthly economic Ik hniln— journal, otftn you in its JULY 1977 issue: 21 YEARS AFTER FELDA come 6 of age this month. Nearly a quarter million people have been settled on its 186 land schemes, having developed some 870,000 acres during the last 20
      485 words
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    Lock icon Japanese bring in tit-for-tat shipping law
    159 12 Reuter TOKYO, Thurs. Japan will enforce from next Wednesday, a law allowing the government to restrict entry to Japan or ban ships from countries that discriminate against Japanese vessels. The Transport Ministry said the law, similar to laws already In force in some other
    Reuter  -  159 words
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    Lock icon Delay in Aussie uranium decision
    106 12 Reuter CANBERRA, Thurs. The Australian government Is unlikely to announce its decision on whether to approve a resumption of uranium mining and exports, government sources said. They said the decision has been delayed until a report Is received from a government mission overseas investigating demand
    Reuter  -  106 words
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    Lock icon US uranium shipped
    60 12 AFP NEW DELHI Thurs. Indian officials said today they had received a shipment of 12 tonnes of enriched uranium from the United States, the first since President Carter announced a nuclear policy review In January. The uranium which arrived in Bombay yesterday was bound for the Tarapur
    AFP  -  60 words
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    Lock icon Jakarta oil production record
    55 12 AFP JAKARTA, Thurs. Indonesian oii production for the first three months of 1977 reached 151,667,222 barrels or a dally record average of 1.68 million barrels. Thirteen foreign contractors have struck oil. Top exporter remains the US Caltex, followed by France's Total Union Oil, Arco, Ilapco and
    AFP  -  55 words
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    Viking veg plan
    53 12 JAKARTA, Thurs. Norway is envisaging the importation of air-dried vegetables from West Java, according to the national news agency, Antara. A three man mission from "Riber Son, Toro Food Division", led by Mr. KJell Lei Jc kobseh had talks on the import plans with Trade Ministry officials
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    New POSB terminal offer exciting ways to expand services
    654 12 THE POST Office Savings Bank (POSB) plans to Install on-line automated teller machines at all its offices as well as "point-of-sale" devices which will allow depositors to make purchases at supermarkets without any physical transfer of cash. The new generation of
    654 words
  • Article
    Another for the plastics industry in Singapore
    361 12 A JAPANESE hose manufacturer, Tigers Polymer, Is the latest entrant to the plastics Industry here. The company, which Is Investing about $800,000 initially, is shipping out machinery from Japan next month to its Kallang Basin factory. It expects to start trial runs In
    361 words
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    Robinson's sixth store opening
    128 12 THE Robinson's group will open its sixth store in Singapore at Clifford Centre on Monday. Called Robinson's Downtown Store, it will be situated on the lower ground floor of the 29storey Clifford Centre Just across its former site. Access to it is by staircase and escalator
    128 words
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    Lock icon EXPORT TO WEST ASIA CALL
    76 12 Reuter TAIPEH Thurs —A leading government trade official has called on Taiwan manufacturers to expand their exports to West Asia, the Central News Agency reported today. The call came from Mr. Wu Kuahslung, secretarygeneral of the External Trade Development Council. Taiwan's exports to West Asia
    Reuter  -  76 words
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    LONDON STOCKS
    669 12 LONDON, Thurs. The market closed easier on balance but the UK trade figures for June prompted a rally In short-dated government bonds In after hours trading, dealers said. Trading was quiet and at 3.00 p.m. the FT Index was down 2.7 at 447.2. At 3.30 p.m. equity leaders
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    Lock icon Taipeh revises statutes on investments
    461 12 UPI Reuter TAIPEH, Thurs. In a move to provide more incentives for both local and foreign investors, the Executive Yuan (Parliament) yesterday approved a revision of the statute for encouragement of investment. This is the third time Taiwan has revised Its statute since it was
    UPI; Reuter  -  461 words
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    Lock icon New oil find for Bolivia
    159 12 Reuter LA PAZ, Thurs. A new oil field In south-eastern Bolivia will boost the country's oil production by 27 per cent next year, Energy Minister Gulllermo Jimenez Oallo said yesterday. General Jimenez said, that commercial production at the field, recently discovered by a local subsidiary
    Reuter  -  159 words
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    Rumanian trade chief in S'pore
    333 12 RUMANIA'S Deputy Minister of Foreign Trade, Mr. Marin Tralstaru, flew In from Kuala Lumpur last night for a four-day visit to "strengthen trade and economic relations with Singapore." He will meet Foreign Minister, Mr. S. Rajaratnam, and Finance Minister, Mr. Hon Sul Sen. Mr. Tralstaru,
    333 words
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    Lock icon Lights-out in New York
    282 12 Reuter NEW YORK, Thurs. An electrical storm triggered off a massive power blackout of New York last night, plunging America's largest city Into near darkness and chaos. Mayor Abraham Beame declared a state of emergency and off-duty police and firemen were called In amidst reports of
    Reuter  -  282 words
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    How rapid advances in science can help S'pore
    366 12 THE FUTURE progress of developing countries like Singapore, with limited resources of trained manpower and finance, will depend greatly on its capacity to derive benefits from the rapid advancements made in science and technology, said Mr. Jek Yean Thong yesterday. Mr. Jek.
    366 words
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    Industries must develop own R and D for survival
    743 12 LOCAL INDUSTRIES must develop their own research and development capabilities geared to future selfsufficiency In new ideas and approaches for Singapore to survive and remain viable in its Industrialisation programme. This was stressed by Dr. Lee Chlaw Meng, president of the
    743 words
  • Article
    Call to process more meat
    325 12 SINGAPORE'S meat Industry should consider venturing Into manufacturing of processed products like bacon, ham, sausages, luncheon meat, corned beef and other meat preparations, $35 million worth of which was imported Into the Republic last year. The lucrative market, plus the fact that local meat processors
    325 words
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