The Business Times, 21 July 1977
1977-07-21
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The Business Times
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Title Section9 1977-07-21 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, JULY 21, 1977 50CENTS9 words
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NEWS IN BRIEF
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Article49 1977-07-21 1 KUALA LUMPUR, Wed. The Asean second summit conference here on Aug 4 and 5 is expected to give further direction for greater economic cooperation between the five countries. A document to such effect is expected to be signed by the five heads of government attending the conference.49 words
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Article71 1977-07-21 1 WASHINGTON, Wed. A joint Senate house committee has approved a bill requiring US representatives in international development banks to oppose loans to countries consistently violating human rights. A bill authorising funds worth US$5.2 billion (8112.8 billion) for the World Bank and Asian and African development banks calls71 words
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Article67 1977-07-21 1 AFP JAKARTA, Wed. Indonesian and other Asean businessmen discussed means of raising loan capital for Joint ventures In South-east Asia at a forum sponsored by the multi-national Astra Company in Jakarta for the last two days. The two sides also compared notes on the attitudes of Asean andAFP - 67 words
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Article62 1977-07-21 1 US at all time low Reuter FRANKFURT, Wed. The US dollar was today fixed at an all time low of 2.2593 marks on the foreign exchange market here without intervention by West Germany's central .bank (Bundesbank), dealers said. They said the US currency, fixed at 2.2628 marks yesterday, was drivenReuter - 62 words
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Article52 1977-07-21 1 Reuter JAKARTA, Wed. Indonesian Foreign Minister Adam Malik today called on Vietnam and Laos to leave Asean alone. "They (Vietnam and Laos) had better stop teasing us, stop calling Asean an American backed Jilot and stop interfering In Asean internal affairs, ust leave Asean alone," Mr. MalikReuter - 52 words
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Article46 1977-07-21 1 UPI WASHINGTON, Wed. Personal Income, an indicator of future consumer spending, rose 0.7 per cent In June despite a slowdown In wage and salary gains, the Commerce Department said today Personal Income has increased in every month since July, 1975, the Department said.UPI - 46 words
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Article92 1977-07-21 1 NEW YORK, Wed. Stocks, trying to maintain a three day. old rally, pushed rafter on. the New York Stock-Exchange early todayin active trading with the aid of continued Investor enthusiasm over second-quarter earnings reports. The Dow Jones industrial average, which gained 8.67 points yesterday, was ahead 4.07 points92 words
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Chief Price Changes
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Article, Illustration164 1977-07-21 1 A MIXED trend prevailed amidst quiet trading on Ike Stock Exchange of Singapore yesterday. The market opened steady but thereafter tended to drift lower. On balance, however, it finished slightly ahead. The Business Times index closed 3.50 kicker at 397.28 and the Straits Times Industrial index roee164 words
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Article105 1977-07-21 1 Rises Most active 8 Trading 5.10 +.20 Incbcape 835,000 OiymDlft 300,000 Oulnnees N.Iron Lien Hoe 4.54 3.30 2.25 3.M 2 02 +.18 +.10 +.12 +.12 +.10 ITsla Wearing 307,000 Bandar Raya 301,000 Total Turnover: 5.34 M SUne Darby Pac.Dev. Total Value: *****.2* l( M. Hour Cent. Sec.105 words
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1130 1977-07-21 1 JOHN TAN - FUEL OIL PRICES JOHN TAN SINGAPOREANS will probably have to put up with another round of Increase in their fuel prices In the not too distant future. At least one oil company here, which imports nearly all Its crude from Bauai Arabia,1,130 words
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613 1977-07-21 1 pi RECTORS who fail to carry out their responsibilities cannot look to their auditors to give them protection. This was stated by the Singapore Society of Ac86 A), which In a 10-page Statement of Auditing Standards to its members, lays down precisely613 words
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Article, Illustration367 1977-07-21 1 MR. CHARLES Khong has resigned his managing ?artnershlp In Arthur oung, a firm of public ac countants, and is now a director In Sampoerna Holdings BEA Pte Ltd. the chief company In the Sampoerna group which has eetenslve plantation interests In Malaysia. Mr. Khong,367 words
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Article194 1977-07-21 1 AP NKW YORK, Wed. Alleged tax evasion and fraud Involving more than UBH billion (8912.3 billion) in crude oil futuree Is being investigated by a New York grand Jury, the Commodity News Service (CMS) has reported. In a copyrighted story yesterday, CNS quoted sources closeAP - 194 words
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154 1977-07-21 1 STRONG speculative support helped the Mslsyston Business Times lades to t«ee the M 0 points barrier the first time yesterday. It dosed the day at 4MM, a rtoe of C.49 points over tho previous day. The index, which to a moaonre154 words
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Article117 1977-07-21 1 TOKYO, Wed. Weetern Australia Proasior, Sir Charloe Court, ealled on Japan today to play a bigger role in the world money market and said it Is "foolish net to use" Japanese yen as part of any development project his country undertakee. Sir Charloe, currently on a wook-hmg117 words
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283 1977-07-21 1 Reuter TOKYO, Wed. Japan has virtually decided to extend yen loans totalling US$l billion (552.46 billion) to finance five Industrial projects planned by Asean, a source close to Prime Minister Takeo Fukuda was quoted as saying today. In reporting the decisionReuter - 283 words
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Article256 1977-07-21 1 Reuter TOKYO, Wed. Japanese Prime Minister Takeo Fukuda said today foreign criticism of the country's massive trade surplus should be curbed by stimulating the economy and increasing Imports, according to Chief Cabinet Secretary, Sunao Sonoda. Mr. Sonoda told a press conference here that Mr. FukudaReuter - 256 words
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Page 1 Advertisements
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Advertisement10 1977-07-21 1 Colour TV is simply great SEE PAGES 2 ft 8 |_,=:*~(=/^'}$~:@`]{~[)|$(;.`>~10 words
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Advertisement130 1977-07-21 1 We're great LISTENERS... ...so, talk to us. Because we stay tuned to what goes on in the world of finance, we can give dear, sound advice. We are constantly developing new and imaginative plans to meet the financial needs of both small and big businesses. As a specialised financial institution,130 words
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Advertisement68 1977-07-21 1 /|,;&/-)]%";[;)[(/"=~},;,>>'<*; SEE BACK PAGE SEE PAGE ll' Singapore to Thipei via Hong Kong w A i i i a w w w r"' ft Daily flight departs at 10.45 am arrives Hong Kong at 2.50 pm and continues on to Taipei arriving at 5.25 pm. > For reservations call your68 words
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OVERSEAS
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368 1977-07-21 2 Reuter LONDON, Wed. The new price range for the International Tin Council (ITC) buffer stock represents a compromise that only partly satisfies producers and consumers, delegates to last week's ITC meeting said. The price review was the first of the new six-monthly systematicReuter - 368 words
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Article150 1977-07-21 2 AFP NEW DELHI, Wed. Minister for Commerce and Supplies. Mohan Dharla, will lead a high-powered Indian delegation to the European Economic Community (EEC) shortly to negotiate on quota restrictions Imposed by the EEC on exports of handloom and garments, It was learned. Mr. Dharla, who revealedAFP - 150 words
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Article362 1977-07-21 2 AP NEW DELHI, Wed. The foreign ministers of India and Japan talked on Tuesday night of giving new and wider dimensions to the cooperation between Asia's two biggest democracies. Mr. lichlro Hatoyama of Japan arrived in India, the second nation of a subcontinent tour, fromAP - 362 words
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Article79 1977-07-21 2 Reuter WASHINGTON, Wed. A US Pentagon study has recommended the side of over US$B billion (5519.7 billion) of US arms to South Korea to make up for the planned evacuation of US ground troops, government sources said. It recommended that 239 Jet fighters, Including 90 newReuter - 79 words
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171 1977-07-21 2 Reuter LONDON, Wad Negotiations are continuing between the Far Eastern Freight Conference (FEFC) and the United Thai Shipping Line on United Thai's application for membersnip of the FEFC, a spokesman for the FEFC said. The FEFC understands that controlling interests in a newlyformedReuter - 171 words
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Article60 1977-07-21 2 Reuter LONDON, Wed. An Internationa! arbitration court in Oeneva has told the British and French governments of its judgement in their dispute over the exact frontier between the two countries along the English Channel, a British Government spokesman said. He said the document is being studied byReuter - 60 words
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459 1977-07-21 2 Reuter AKRON, Otllo, Wed. A directors' committee of General Tire and Rubber Co. yesterday placed "primary responsibility" for Improper political payments on president and chief executive 11.0. O'Neill, but recommended that he be retained. The payments involved reimbursing company executives for political contributions theyReuter - 459 words
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537 1977-07-21 2 AP WASHINGTON, Wed.-US-government figures continue to Indicate a huge work! grain crop this year and a significant build-up in food supplies* by mid--1978. The U8 Agriculture department estimated vorld wheat and feed grain output in 1077-78 at 1.097 billion tonnes compared with theAP - 537 words
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184 1977-07-21 2 AP ZURICH, Wed. The intended ban of the artificial sweetener saccharin by the United States and Canada was described here as being the result of "scare headlines." And the headlines, claimed the Zurich-based International Sweeteners Association (ISA), have been caused not by scientists but byAP - 184 words
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156 1977-07-21 2 Reuter GENEVA, Wed. The International Labour Organisation (HO) is going through a critical period which threatens Its future develoDment, ILO directorgeneral, Francis Blanchard, said here. Mr. Blanchard said the ILO was "severely threatened in regard to Its progress and university." He did notReuter - 156 words
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Article105 1977-07-21 2 Reuter ZURICH, Wed. The Swiss National Bank said Its Intervention purchases of foreign currency and sales In connection with the capital export conversion juw were roughly bakncert at AA billion francs (814.6 billion), in the first half of UUs year. This is substantially below both the 10.S billionReuter - 105 words
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Article62 1977-07-21 2 Reuter ROME, Wed. Italy had a provisional June overall payments surplus of 350 billion lire (SSO.OS billion) after an earlier estimated 140 billion lire May deficit, the Bank of Italy said. The Central Bank is shortly to publish more detailed figures. In June last year, Italy had aReuter - 62 words
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217 1977-07-21 2 UPI DAMASCUS, Wed. The Arab boycott of Israel and of foreign firms that do business with blacklisted Israeli companies will continue until Israel withdraws from all Arab territory including the West Bank, the Gaza Strip and Jerusalem, the head of the boycott committeeUPI - 217 words
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Article, Illustration204 1977-07-21 2 UPI JERUSALEM. Wed. Prime Minister Menachem Begin's government has effortlessly won approval for Its new economic measures and defeated nonconfidence motions triggered by the anti-In-flationary moves. The vote came yesterday as Mr Begin presented President Carter In Washington with a document containing Israel's blueprintUPI - 204 words
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Article125 1977-07-21 2 AP MOSCOW, Wed. Soviet industrial production grew during the first half of 1977 at slightly more than the pre-planned moderate rate, according to official statistics published today. But the growth of labour productivity during the period appeared to be unsatisfactory. Industrial production rose by 5.7 per centAP - 125 words
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281 1977-07-21 3 Reuter FRANKFURT, Wed. The Bundesbank regards the present weakness of the dollar against the mark as overdone, but is sticking to Its principle of not intervening to counter a definite market trend, senior Bundesbank sources said. "Our Intervention principle Is unchanged. We intervene onlyReuter - 281 words
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113 1977-07-21 3 Reuter WASHINGTON, Wed. With the backing of President Carter, a Congressional committee today approved a 35-cent (886 cents) increase In the US minimum hourly wage to $2.65 next January. The increase would affect about seven million workers. The House of Representatives education and labourReuter - 113 words
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114 1977-07-21 3 Reuter WASHINGTON, Wed. The US Treasury Department said its auction of US$2.5l billion (556.17 billion) of two-year notes brought an average effective yield of 6.34 per cent. The Treasury said the average price was 99.834, making the coupon rate on' the notes 6.25Reuter - 114 words
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Article113 1977-07-21 3 Reuter PARIS Wed. The French Official Journal said a commission to ensure competition will be set up to act If a company or group of companies In agreement controls 40 per cent of national turnover in a particular product. In the case of goodsReuter - 113 words
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Article174 1977-07-21 3 Reuter COLOGNE, Wed. The Cologne Economic Research Institute said real economic growth in West Germany be between 3.5 and four per cent this year. Average unemployment will, therefore, be around 1.05 million over the whole twelve months, or 4.7 per cent of theReuter - 174 words
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Article80 1977-07-21 3 Reuter BONN, Wed. West Germany's Trade Union Federation called on Chancellor Helmut Schmidt to intervene personally In the fight against unemployment. Mr. Gerhard Schmidt, a member of the union body's national committee, said the Chancellor should call together businessmen, trade unionists and politicians to seek waysReuter - 80 words
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647 1977-07-21 3 Reuter WASHINGTON, Wed. The Carter Administration has forecast that the US economy is slowing somewhat; with the annual growth in gross national product slackening to five per cent in the second half of this year and throughout 1978. This compares with aReuter - 647 words
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334 1977-07-21 3 Reuter LONDON, Wed. The economic committee of the Trades Union Congress endorsed the government's call for 12 months to elapse between wage settlements but stressed that this must be voluntary without specific guidelines from the government or TUC. In a statement inReuter - 334 words
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507 1977-07-21 3 AFP TEHERAN, Wed. An electricity shortage, an annoyance up to a few weeks ago, has turned into a major crisis. Outside, chaotic traffic pours through 111-lighted streets while inside people swelter uncomfortably In the 40-degree Centigrade heat wave, deprived of electricity poweredAFP - 507 words
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656 1977-07-21 3 Reuter NEW YORK, Wed. The economic sheen of California has become tarnished with age, and Los Angeles might well look to New York for a picture of its long-term future, according to a regional economic report issued here today by the Conference Board. Mr. JuanReuter - 656 words
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Article69 1977-07-21 3 AFP NSW YORK, Wed. The World Bank yesterday began to borrow US$75O million (811,845 million) from the United State* financial market to its ordinary operation*, en official communique Mid, The loan wlii be dfrktad into three parte each of $350 million due for SBAFP - 69 words
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Article65 1977-07-21 3 Reuter WASHINGTON, Wed. Capacity Utilisation in US industry rose to 83.5 per cent in June from 83.3 per cent in May. the US Federal Reserve Board said. The rate for the AprilJune quarter was 83.1 per cent, against 81.1 per cent In the previous quarter and theReuter - 65 words
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Article36 1977-07-21 3 Reuter LONDON. Wed. Oil has started flowing through the Alaska pipeline again after it had shut down for about eight hours after a valve was rammed by a construction vehicle, British Petroleum said. Reuter.Reuter - 36 words
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182 1977-07-21 3 Reuter WASHINGTON. Wad. The Carter administration uM the Senate t« ratify a varaion of tka US tax treaty with Britain that could limit taxing by atataa af worldwide profita af Britiah US Traaaury officials appeared before tka Senate Foreign Relations Committee to supportReuter - 182 words
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Article97 1977-07-21 3 Reuter WASHINGTON. Wed. The Senate voted to delete US$l.4 billion (513.4 billion) for production of the Rockwell Internationaldeveloped B-l bomber from the 1978 defence appropriations bill, supporting President Carter's decision not to go ahead with the plane. The vote came as the Senate was inReuter - 97 words
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703 1977-07-21 3 Agencies PARIS, Wed. Inflation, unemployment, foretfn trade and domestic demand problems are expected to continue plaguing molt of the non-communist lndustrallied world for the next 12 months, but the outlook for easing balance of payments deficits is good, the Organisation for Economic Cooperation andAgencies - 703 words
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Article176 1977-07-21 3 Reuter BRUSSELS, Wed, European Common Market Budget Commissioner, Christopher Tugendhat, yesterday called on Community budget ministers to "put their money where their mouth Is" by approving Increased EEC spending on regional and social projects and aid to the Third World. Mr.Tugendhat was speaking at a press conferenceReuter - 176 words
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Page 2 Advertisements
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Advertisement144 1977-07-21 2 Non-stop to New Zealand. Non-slop comfort. Non-stop service. Non-stop entertainment. There's only one way to get to New Zealand in one hop. Non-stop. The fastest way. The most comfortable way. Every Tuesday and Saturday. Air New Zealand takes you there. In wide-bodied DC-10's. With non-stop service because passenger capacity provides144 words
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Page 2 Miscellaneous
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Miscellaneous388 1977-07-21 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on •lulv 20 at Singapore airport. Maximum Temperature 30.2° C Associated Humidity 81 Minimum Temperature 22.6° C Associated Humidity 100 Hours of Sunshine 4.65 Rainfall in Millimetres 15.2 Total Rainfall for the Month 108.4 Total Rainy Days for the388 words
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Page 3 Advertisements
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Advertisement142 1977-07-21 3 >So? SOLVED (FAST, ACCURATE) THE MOST COMPLICATED SCIENTIFIC CALCULATIONS 4* U? J Oft. A VcY' A mm. Yes. all problems can be solved. It's a question of time and accuracy And t,ime and mistakes are what you cannot afford to lose in today's highly competitive and most demanding market Being142 words
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COMPANY NEWS
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553 1977-07-21 4 ADVERSE trading conditions brought the pre-tax Srofit of Malayan Cement's ive major associated companies down by 21.8 per cent to MS 12.75 million In the first six months ended May 31, 1977. Consequently, the group's share of profit from these 50 per cent553 words
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Article193 1977-07-21 4 NEDLLOYD-EAC Agencies has appointed Mr. Oaf Ckota Lia as assistant Scan Dutch container terminal manager. He will assist the container terminal manager, Mr. Kali Peb Sleag, In administration and loglstle matters. Mr. Oh. 29, holds a First Mate Foreign-going Certificate of Competency and was a liner co-ordination193 words
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670 1977-07-21 4 THE LATEST moves by Faber Merlin Malaysia and Pahang Consolidated to resolve thpir crossholdlngs are In line with their alms of seeking a relisting of their shares on the Singapore and Kuala Lumpur stock markets. i Both the companies" shares were suspended in670 words
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279 1977-07-21 4 PRE-TAX PROfTT at Sungal Bagan Rubber amounted to *****9,041 for the first she months ended Dec 31, 1978 a thumping 105 per cent Increase over the corresponding period In 1975. The sharp Increase in —inning* came on the back of a seven per cent279 words
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COMPANY MEETINGS
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19 1977-07-21 4 THE following company meetings are doe: July 22, 2.30 p.m., 431 Tanglln Halt Road, Singapore.19 words
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Article20 1977-07-21 4 July 22, 10.30 a.m., Registered Office, Wlsma Teh Wan Seng, 2nd Floor, 13-B Jalan Bandar, Kuala Lumpur.20 words
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Article17 1977-07-21 4 July 33, 12 noon, Registered Office, Chartered Bank Chambers, Beach Street, Fenang.17 words
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Article15 1977-07-21 4 July 30, 12 noon, 4701 OCBC Centre, Chulla Street, Singapore 1.15 words
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Article17 1977-07-21 4 Aug 1, 9 a.m., Registered Office, No. 45 SpottlSwoode Parte Road, Singapore 2.17 words
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Article234 1977-07-21 4 rmimt Bx Due Tttalfcr TMlfet J pajM Date p lyahb tfceyaar p ■•rtaaeyaar ~r-'- 1 1 7.9* junta July 21 7.0* 7 Mk TwwBACky 9% JunttS July 21 9* 9* go.oi* June 10 July SB 91.01% 119.38* Mehy 40*1 June 16 July 26 04.0*1 72.0* 20* July 5234 words
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725 1977-07-21 4 NYT NEW YORK, Wed. A relatively unnoticed business the food-wholesaling Industry is receiving aome favourable notices these days in Wall Street. Companies in this field, operating In various parts of the United States, function mainly as purchasing and warehousing agents for Independent grocers, chain storesNYT - 725 words
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Article108 1977-07-21 4 Reuter MELBOURNE Wed. Woodslde Petroleum Ltd said bad hole conditions prevented It adequately fogging the interval 4,800 to 4,659 metres In the Bcott Reef Two-A well, offshore Western Australia. Hydrocarbon indications had been notcg in the interval, which will be evaluated later. The weii. now at 4,659Reuter - 108 words
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160 1977-07-21 4 Reuter SEOUL, Wed. The South Korean foreign capital inducement committee approved Bwlss and Oerman loans totalling U***** 65 million to finance buying generating equipment for the state-run Korea Electric Co. Pour Swiss banks led by Union Bank of Switzerland are lending $155.37 million at 5.75Reuter - 160 words
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Article1351 1977-07-21 4 On July 19 TRADING on the Chicago Board tochangecame to 134,053 contracu onTueadaj, compared with 138,173 contract* on Monday. Alcoa Alcoa Am Ex; Am Ext ABTM Am Til Am TM AUR AUR Atod Avon OPTION OCT JAN 4 M 01/3 01/t I oo la/ie 11/» 1 X1,351 words
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Article37 1977-07-21 4 LONDON, Wed. The Quebec Hydro US$l25 million debenture issue, due 1992, has been priced at par, said lead manager Credit Suisse White Weld. The issue carries a coupon of nine per cent, as Indicated.37 words
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497 1977-07-21 4 ADELAIDE, Wed. An Australian company will build a commercial oyster {arm practically in the suburbs of a capital city. The firm. ICI Australia, will go ahead with a large scale farm Just outside Adelaide, capital of South Australia, after spending three years making497 words
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Article394 1977-07-21 4 Reuter JOHANNESBURG, Wed. Great yellow mounds of dirt thrown up by generations of miners look like bringing a new gold rush to South Africa. For the new sky-high price of gold and modem extraction methods have made it possible to extract riches from theReuter - 394 words
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Advertisement194 1977-07-21 4 Give us a man for a monthwell give him a language for life inßngua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency194 words
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INTERNATIONAL COMPANY NEWS
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Article636 1977-07-21 5 NORTH AMERICAN COMPANIES NYT SHARES OF Citicorp traded heavily yesterday and closed up at 29% as investors interpreted positively slightly Improved earnings for the second quarter. Citicorp, whose principal asset is Citibank, the nation's second largest commercial bank, said during the day that consolidated earningsNYT - 636 words
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215 1977-07-21 5 Reuter CHEMICAL NEW YORK CORP said Its higher second quarter earnings were due primarily to increased net Interest income, a lower loan loss provision and continued control of non-In-terest expenses. It said the same reasons explain the Improved first half, althoughReuter - 215 words
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Article143 1977-07-21 5 Reuter MERRILL LYNCH, Pierce Fenner and Smith Inc., the largest US brokerage house, said the Federal Reserve Board has found no objections to establishing a new type of securities account. The brokerage house salcl the Ted had Informed ir that the new cash management accountReuter - 143 words
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Article225 1977-07-21 5 EUROPEAN COMPANIES Reuter ROTTERDAM, Wed. Shell Chlmle SA plans to Invest 2.5 billion French francs In three plants for the production of lower oleflnes and derivatives, Shell Nederland said. It plans to build a second cracker at Berre for the production of ethylene andReuter - 225 words
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Article93 1977-07-21 5 AFP PARIS, Wed. Poclain, the hydraulic machinery group In which the American Case-Tenneco concern acquired a 40 per cent stake recently, announced cutbacks In work hours (or nearly half Its workers for a six-month period from Sept. 1. The management told the works committee that theAFP - 93 words
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Article75 1977-07-21 5 Reuter LUXEMBOURG, Wed.— Kredietbank SA Luxembourgeolse confirmed as Joint lead manager that Telefonos de Mexico SA is seeking US$4O million through an offer of sevenyear notes with a proposed 9% per cent coupon. The notes are expected to be issued at par, but will not be pricedReuter - 75 words
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Article75 1977-07-21 5 Reuter THE MERCHANDISE inventory of 367 Robert Hall Stores will be auctioned over a four-day period beginning Aug 2, the auction firm of David Wets* Co. said. Robert Hall Is owned by United Merchants and Manufacturers, which has filed for bankruptcy protection under Chapter XI of theReuter - 75 words
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Article41 1977-07-21 5 COMMERCIAL UNION ASSURANCE Co Ltd said it will sell the Boston office block which houses Its U8 headquarters to the Prudential Insurance Co of America for US 877 million. Commercial Union will lease back about 46,450 sq metres offices.41 words
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Article115 1977-07-21 5 UK COMPANIES Reuter BRITISH PETROLEUM said it plans early development or the North Sea Buchan field, some 161 km east of Aberdeen and near to the company's forties field. BP has applied for Energy Department approval for development and work should start soon after permission isReuter - 115 words
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Article139 1977-07-21 5 FT ICl's scheme to give top executives company cars in place of pay rises has been scrapped after objections from the Department of Employment. The scheme, which would have Involved about 2,000 senior managers, had been Intended as a substitute for the £208 maximum under Phase Two.FT - 139 words
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Article84 1977-07-21 5 CHASE MANHATTAN CORP., suffered a slight setback in the second quarter this year with operating net earnings declining to US$2B.6 million or 89 cents a share from $30.1 million (94 cents) In the 1976 quarter. Net earnings after securities were also down to $29.6 million (92 cents)84 words
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199 1977-07-21 5 Reuter BETHLEHEM COPPER CORP said Its directors will make no recommendation on the bid by Comlnco for Bethlehem shares at US$lB a share. Bethlehem said that Oranges Essem AB of Sweden is negotiating the sale of its 1.6 million Bethlehem shares to a third party.Reuter - 199 words
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Article171 1977-07-21 5 Reuter WESTERN NUCLEAR INC, a Phelps Dodge Corp subsidiary, said It agreed to sell Its 86.9 per cent Interest In Allied Nuclear Corp to Federal-American Partners, which Is 60 per cent by Federal Resources Corp and 40 per cent by American Nuclear Corp. Allied NuclearReuter - 171 words
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Article171 1977-07-21 5 Reuter PHILLIPS PETROLEUM CO said it brought the Ekoflsk Platform B (Bravo) in the Norwegian North Sea back Into production. The platform was shut since one of its 15 wells went out of control on April 22. Total crude oil production in the Ekoflsk area Is expectedReuter - 171 words
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Article130 1977-07-21 5 Reuter OBERHAUSEN, Wed. A spokesman for Gutehoffnungshuette Aktlenvereln denied a published report that OHH is preparing an offer for the shares It does not already own in Maschlnenfabrlk Augs-burg-Nuernberg AO (MAN). The report, In a Frankfurt stock market newsletter, said OHH is preparing a one-for-oneReuter - 130 words
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Article112 1977-07-21 5 Reuter AMSTERDAM, Wed. A Dutch economics ministry decision to reduce the price of F Hoffman-La Roche and Co AO's llbrlum and vallum products would cost the company three million guilders of Its present 10 million annual sales from the two drugs, Hoffman-La Roche BV said. TheReuter - 112 words
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Article246 1977-07-21 5 Reuter JOHANNESBURG, Wed. Rand Mines Ltd said results of group gold mines for the quarter ended June 30 are as follows, in order, taxed profit (million rand), gold produced (KO), yield (gram/tonne), and cost (rand per tonne milled), with the previous quarter In b lterrnonyReuter - 246 words
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Article39 1977-07-21 5 Reuter KENNECOTT COPPER CORP said the strike at Its domestic copper producing facilities has ended, subject to ratification by membership of local 8093 at Its Ray Mines Division and the completion of a return to work agreement. Reu-Reuter - 39 words
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Article163 1977-07-21 5 Reuter THE FINANCIAL Accounting Standards Board proposed that oil and gas companies use the so-called "successful efforts" method of accounting In figuring the cost of finding and developing petroleum reserves. The Independent board, which established standard accounting methods for industries, said In a draft proposal thatReuter - 163 words
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Article131 1977-07-21 5 Reuter EXTRA-HEAVY demand for heavy duty trucks and general aviation products helped push profit to a record for tne second Suarter and the first half at ienal Companies. For the quarter, Signal earned U5528.82 million, or 5i.45 a share, up 73 per cent from last year's $16.65Reuter - 131 words
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Article354 1977-07-21 5 ASIAN COMPANIES Reuter SYDNEY. Wed. Shell Co of Australia Ltd has agreed to purchase the 25 per cent stake In Austen and Butta Ltd held by Brascan Resources Ltd of Canada, Austen and Butta said. Brascan holds 1.14 million of Austen and Butta's 4.57 millionReuter - 354 words
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Article372 1977-07-21 5 Reuter SYDNEY, Wed. Wyoming Mineral Corp will. If required, fund a mining programme at a uranium Joint venture at Lake Way, Western Australia, VAM Ltd scheme of arrangement trustee 8.0. Smith said In a statement. Wyoming, a Westinghouse Electric Corp unit, holds 51 perReuter - 372 words
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Article159 1977-07-21 5 UPI TOKYO, Wed. Tokyo Shlbaura Electric Co. (Toshiba) will soon raise prices of its export products by five to 15 per cent because of the strengthened yen value, company officials said. The company set its export prices according to a 295 yen to US$l exchange rateUPI - 159 words
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Advertisement135 1977-07-21 5 1 #»»c c c c A-100 STEREO CASSETTE 0 C 0 II L r Teac's modern cassette tape-decks. With the latest technical specs. Engineered to the usual high standard of the world's top manufacturer of tape systems. And with the same reliability and durability. Plus front-loading. Just look at these135 words
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Article2358 1977-07-21 6 lrn Mi«k u» Caavaay Laat Sale +«v» Cfc'B Dfcr Gf* C Nat P/E V«1 (*689) Dv m«k Lew SECTION ONE INDUSTRIALS 154 204 96 215 101 198* 169 223 396 171 136 172 58 212 57 155 152 182 350 145 Aetna Alcorn Allied Choc Bata Ben2,358 words
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Article1550 1977-07-21 6 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets in lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board1,550 words
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Article1547 1977-07-21 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1.000 units unless otherwise specified industrials Alaam (1.80B). A. CAM (O.BSB O.SM). A.F.I. (0.09B) (IS) 0.68. (1)1,547 words
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Article65 1977-07-21 6 STRIKING prices ef tke stack options officially liated aa tke Stock Exckange of Singapore, the periods, bid and offer prices and buaineas done yesterday, with the number of options traded shown in brackets. lackcape (Sept 82.49) (6.348) (It) 6.32. Nat. Iran (Dec 83.9 V) (0.258). c f 3m65 words
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Article143 1977-07-21 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Minfn' prim for Jalj 21) (Curroat p noM) INCOME BOND 1.06 1.12 The Commerce 1.72 1.82 MARA BUMIPUTRA FUND The 8a vlng Fund 0.99 1.04 (Maaagsrs* prices for July 29) 8'pore Prof Fund 0.86 0.01 First Bumlputra 2.17 2.22 8'par* Security 1.SS143 words
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Article110 1977-07-21 6 Credit Lyouuia Floating IMS (101.80B) (100.000) (98HB W«4S) 5* T F 15/10/81 (250,000) 8 3/8% IW4 50,000) (101.75B) (lOIViB 102 V&) 5* T F 1/5/83 (250,000) Orient Leasing 8 1/4% IW2 (100.208 100 30S) (50.000) (101 %B 102'tS) 5 3/4% T F IWBI-84 250,000) 5 1/4% 15/7/78 250,000) (102.705)110 words
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Page 6 Advertisements
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Advertisement176 1977-07-21 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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Article, Illustration588 1977-07-21 7 A MIXED tread prevailed ukkt quiet trading on the Stock Hfhin of Bta|ipen yeatoday. TV* market opened en a steady note and gala* of up to eeven cento were rooerdod in the first hour of trading. Thereafter, aharo prices hegaa to elide. However, a flaw Ann note588 words
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Article469 1977-07-21 7 AFTER a day of mixed prices, the Kuala Lumpur stock market resumed its upward trend yesterday on improved buying support. Values of most counters, especially the higher priced stocks, were marked up considerably in moderate to heavy trading. The strong speculative support for the majority469 words
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INTERNATIONAL STOCK MARKETS
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Article339 1977-07-21 7 HONGKONG: The market firmed slightly in moderate turnover, dealers said on W San2h?roee 30 cento to 814 JO on shortcoverlng while If iart r~f Bank rooe 10 cents to 017.90, fate Lead five cents to 86.96, Batsfiea 2.5 cents to 33.36, Swire Pacific 10 cents to 06.60 and Wheals*339 words
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Article511 1977-07-21 7 TOKYO: The market on Wednesday recovered after the sharp fall on Tuesday, on expectations of a cut in official discount rate next month, dealers said. The Dow Jones average rose 0.38 to cloae at 4,063,45 with volume 180 million shares. The New Index closed at 374.24, up 0.00. Wall511 words
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Article429 1977-07-21 7 BYDNEY: The market cloeed lower although selected issues recovered In late trading, dealers said on Wednesday. The Sydney All-Ordinaries Index dropped 1.45 points to close at 450.66. Among uraniums, Paaceatiaeatal closed 20 cents higher at 811.00 after an early fall, while Queensland Mines and Katkleea were steady. Elsewhere among429 words
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Article146 1977-07-21 7 MANILA: The market continued tower In sluggish trading on Wednesday, with turnover falling to 3.73 million pesos from Tuesday's 4.31 million, dealers said. Pkilm and Lapaato were lower one point each while Atlas held steady. OrimUl led oils lower with a two point fall, while Seafroat lost one point.146 words
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Article96 1977-07-21 7 JULY 20 BahU Asia Fibre m 1 Bangkok Bank SSI unch Bangkok Invest m 3 Bangkok-Metro-politan Bank Berll Jucker S44 -> CharoongThal Wire 1738 unch Dumex DutitThanl 210 Faber Merlin First Trust 1438 unch Indo-Thal 1M8 -2 Industrial Finance Corp ***** J And J Ho Ml ♦1 Jalaprathan 12396 words
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Article294 1977-07-21 7 AMSTERDAM: The market cloaed narrowly mixed In continued quiet trading on Tuesday. with Akss and Hesgevsas higher and Philips, Uallever and Royal Dutch lower In Dutch Internationals. dealers said. Elsewhere, gains of around one guilder Included Nsdllsyd, ABN and Vaa Ommi-mi. KNSM lost 1.10 guilders In otherwise firmer shippings.294 words
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Article171 1977-07-21 7 BRUSSELS The market was mostly lower In quiet trading, dealers said on Tuesday. So Way and Sociate Cwwls firmed against the general trend while falls Included Cockarill, Hainaut-Sambra, St-Rock, Conetra and FN, which came In for profit-taking CBR was unchanged on news of slightly lower first half profits. UK,171 words
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Article247 1977-07-21 7 FRANKFURT: Sharee cloeed mixed In nervous trading, bourse sourcee said an Tusoday. In engineerings, Dasec feu three marks but Maa ordinary shares gained four marks. Kaefhef In stores, roee four marks but other shares were mostly unchanged. On the bond market public authority bonds rose up to 0.36 marks247 words
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Article159 1977-07-21 7 MILAN: Stocks on Tuesday were generally lower In slightly more, active trading than on Monday bourse sources mid. ftssli hisiliMil Gsnsrali, Ilsstsgl and IFI privileged were among stocks to gain against the generally lower trend. Pirelli SPA and Montedison were also slightly higher, but Flat, Aaic, Generals Inunobiliare and159 words
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Article324 1977-07-21 7 PAR 18: The market was broadly lower, upaet by the unsettled foreign exchange market, dealers said on Tuesday. Metals were mixed but other major sectors, particularly electrlcals, moved lower. US stocks advanced, led by Philip Morris, ATT and OsMral Motor*. Golds were firm, foreign oils higher and Germans easier.324 words
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Article280 1977-07-21 7 ZURICH: The bourse was barely steady In continued calm trading on Tuesday. Swissair rose slightly, but banks showed small declines, particularly Kreditaastalt. Interest centred on Bally, with bearer and particularly registered shares weaker on proflttaklng after recent firmness after Mr. Werner Rey said he is not actively looking for280 words
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Article375 1977-07-21 7 JOHANNESBURG: Oold shares firmed in active trading In line with the higher bullion price and Monday's quarterly results, dealers said on Tuesday. US interest was evident in selected stocks. Mining flnancials were quietly steady, as were Industrials, in thin trading. Coppers, asbestos shares and platinums were easier on lack375 words
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Article318 1977-07-21 7 TORONTO: The market closed broadly higher In active trading on Tuesday. Metals, golds, consumer products and Media led the advance. The composite Index was up more than four points and advances outpaced declining Issues 237 to 207. Royal Trust A slipped to 17-% on lower first half earnings. Bank318 words
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Article1157 1977-07-21 7 NEW YORK: A combination of strong corporate earnings and optimistic comments on the economy by government officials provided the springboard for a sharp and broad stock market rally In heavy trading on Tuesday. Market analysts said Wall Street's perennial fears of Inflation and high Interest rates have been1,157 words
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Article66 1977-07-21 7 FINANCIAL TIMES INDUSTRIALS Tuesday 448.3 Monday 450.5 Week Ago 44C 3 DOW JONES AVERAGE INDUSTRIALS Tuesday 919.27 Monday 910 80 Week Ago 903 41 LONDON DOLLAR PREMIUM Tuesday 112 W to 113 Monday Ill* to 112% H.K. HANG SENG Tuesday 422.78 Monday 427.98 Week Ago 436.85 SYDNEY INDUSTRIALS Tuesday66 words
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Page 7 Advertisements
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Advertisement376 1977-07-21 7 BUSINESS TIMES Airline Directory 110-112 Shaw Centra, (Tal: 177.111) Orchard Rood, Singapore 9 Cl&Aa lut nrinn MfftDftA frSrSitfii) ,Bpi (1) Aja rfwiici Ground Root, ICB BnOdkif, Shonton Way 1 (Tat: *****11) 16th Roar, UIC RoOding, Shan ton Way, (Tal: 2205.277) Air Now liatanrf Ltd 614, Ground Waai Ocoon hMm, Caßyar376 words
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COMMODITY REPORTS AND PRICES
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Article528 1977-07-21 8 OPENING quotations in the Singapore rubber market yesterday were marked up 2.75 cents following higher London advices, dealers said. The market then eased on light selling and past midday prices fluctuated within a narrow range on upcountry buying and light profit-taking, they added. The morning528 words
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Article30 1977-07-21 8 Rubber: July 20 Singapore: August 198.50 eta (up 2.28 eta) Malaysia: August 196.2S eta. (up 2.00 eta) Tin: $1,560 (down $28) Official offering: 208 teanes (up 37 tonnes)30 words
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Article315 1977-07-21 8 Prices In cents ner kilo vesterdav: Noon Close per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 194.00 195.00N 193.75 194.TON Int. 1 R.S.S. August 193.75 191.00 196.50 196.75 Int. 1 R.S.S. September 197.00 197.50 1N.75 197.21 Int. 2 R.S.S. 193.00 194.00N 1S2.TO 193.75N315 words
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Article82 1977-07-21 8 R.A.8. (Cam *Mtk) <F«n Bvjrwi <«— rartMtfc) "n Mien P*rk(> Nhn topvkg) SSR20 (1—ton Pallet) 193 JO 194 SON 194.90 190.SON SSR 50 (1—ton Pallet) 1*0.90 191 JON 191.80 192. SON M.R.E.L.B. SMRSCV <1—ton Pallet) 215 50 217.90N 219.90 217.SON SMR5L (1-ton Pallet) 213.00 219.00N 213.00 219.00N82 words
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Article516 1977-07-21 8 THE Singapore produce market remained generally quiet and featureless yesterday. Until the close, a wait-and- see attitude was prevalent. In the coffee market, brokers said bearish sentiment overseas continued to hold sway on local market sentiment. One major factor cited was the weak future prices ruling on the516 words
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Article67 1977-07-21 8 THE Malaysian Minister of Finance has fixed the following rates for the period from July 21 until further notice: Rubber: 86 5/8 cent* a lb Copra: $854.00 a ton Palm Kernel: 5235.29 a ton The rates of duties payable are: Rubber: 8 7/8 cent a lb Total: 1467 words
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Article274 1977-07-21 8 HONGKONG, Wed. The cotton futures market closed lower with losses ranging from 0.80 to 1.13 U8 cents, In line with the overnight decline in New York, dealers said. Trading was fairly quiet selling, they added. Total turnover fell to 58 lots from yesterday's 72. October, May and July274 words
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Article51 1977-07-21 8 C.I.r. Rotterdam, U8 dollar* par ton. LONDON: Malaysia 9% Ha bulk Sumatra 5% July AUK Sept Oct Jan Nigerian SHffa bulk Sterling per long ton ROTTERDAM Sumatra September Zaire Belg francs per kilo lidiii ii unq 510 pd 519 sir 517.90 sir SOSrir MO sir unq 525 sir51 words
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Article205 1977-07-21 8 LONDON, Wed. TernJnal cocoa traded Initially £40 up from last night in near September at £3.094 but almost Immediately turned easier under trade and arbitrage selling plus possibly some belated hedging, dealers said. But prices finished the opening call still up from last night by £1.50 (May at £2,527.50)205 words
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Article250 1977-07-21 8 THE Straits tin price In Penang yesterday was down $25 to $1,500 on an official offering up 37 tonnes to 206 tonnes. In LONDbN yesterday, tin finished the morning with gains of around £7.00 for cash and £3.00 for Three Months standard. High grade however was £40250 words
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Article169 1977-07-21 8 LONDON, Wed. Futures opened £0.65 to £0.75 per tonne higher than yesterday afternoon closing levels. Sales totalled 588 lots. Quiet conditions persisted and prices eased fractionally from steady opening levels to finish the morning unchanged to £0.45 higher. Sales totalled 848 lots. The London dally raws price was raised169 words
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Article296 1977-07-21 8 LONDON, Wed. Futures lost £77 to £115 per tonne from last night at the end of the opening session. September, having Initially declined around £112, recovered to end the opening call £86 lower at £2.426. November moved similarly and finally closed £77 down at £2,247. The tone was barely296 words
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Article180 1977-07-21 8 BANGKOK, Wed. Indicative prices quoted here were: In HONOKONO, the market was up to 40 cents higher, dealers said. Turnover totalled 287 tons comprising Thais 97, Kwangtungs 140 and Australian 50 tons. White rim: 100 par cent 1st claas 908 100 per cent 2nd 207 100 per cent 5rd180 words
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Article171 1977-07-21 8 CHICAGO, Wed, Soybean futures jumped sharply higher In eariy trading yesterday and quickly reached limit up in the four nearby contracts before trading to show gains of SO cents in the spot month to 16 cents a bushel. There vere 640,000 bushels of soybeans delivered in the morning. Soybean171 words
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Article72 1977-07-21 8 CHICAOO. Wed. Wheat futures advanced In earty dealings yesterday and were showing gains of three to 3 3/4 cents a bushel after the first hour of the session. There were 626,000 bushels of wheat delivered In the morning. Wheat futures registered gains of 41/4 to 3 1/2 cents a72 words
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Article281 1977-07-21 8 LONDON, Wed. Copper wlrebars finished the morning with cash unchanged and Three Months up £0.50. Three Months traded from £750 down to £745 on the pre-market before some covering on West Qerman account gave some support at the lower levels ana this position finished the ring trading at £746.50.281 words
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Article264 1977-07-21 8 LONDON. Wed. Sliver gained 0.8 to 0.4 pence per troy ounce by end morning. But Initial higher premarket levels were shaded following the lower gold fix with profit-taking absorbed by moderate fresh buying. Turnover was 40 lots. On Tuesday, silver on the day gained 2.0 to 2.5 pence per264 words
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Article368 1977-07-21 8 IN the Singapore gold market yesterday, the kttobar opined at 8$ 11,908 and was traded In a range of 8123.00 to ctoae at B$ll,SlB. Trading was active as operators expected prices to go higher. In the London market, gold opened at U*****.20/45. Prices fluctuated in a narrow range of368 words
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Article71 1977-07-21 8 LONDON, Wed. Zinc In the morning closed mostly £1.00 lower on lack of fresh physical demand and fluctuated narrowly In sympathy with copper and lead, dealers said. Three Months traded between £333 and £331.50 stg during the morning in sales of 1,275 tonnes. On Tuesday afternoon, zinc rose by71 words
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Article112 1977-07-21 8 LONDON, Wed. Lead had end morning losses of mostly £1.00. Values slipped back from overnight higher levels under scattered profit-taking prompted bv the movement In copper although the undertone remained steady based on market talk of continued physical enquiry from the USSR, dealers said. Three Months slipped back from112 words
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MONEY AND EXCHANGES
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Article532 1977-07-21 8 SINGAPORE'S money market suddenly turned flush yesterday with overnight funds dropping to as low as two per cent In balanced trading conditions. Overnight rates opened at the 3* per cent level In the morning but was gradually traded down to the two per cent level at close In what532 words
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Article152 1977-07-21 8 Asian rates ASIAN currency rata* m at cloac o depotft interbank »i July 10. US Mil Otfm m <9p»t) BW 7d*jn 1 mth 2 mtlu 3 mth* 6 mth* mth* 12 mth* S 9/16 S l/U M S J/4 l/» a s/ie tint S 7/11 5 M 1 3/16 &/16152 words
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Article40 1977-07-21 8 RANOE of prteM offered by discount houaw on July St Oernlfht lktoM C*U (tepoatt 3* S-Montb TTMMVy 3 tl/% S-tlOQtB Bank Mite <1/8 4 3-Monlbi CD 47/1# 4 4/14 4-Monthi CD 4 VI 41/1 Source: National Discount Co Ltd40 words
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Article86 1977-07-21 8 Euro rates LONDON, Wed. The Eurodollar deposit market was quiet at the outset, dealers said. Time deposit rates showed a general 1/16 point decline on the Friday dealing technicality, although the One Month rate lost 16/16. The Three Month rate softened 3/16 addition ally on the loss of the Friday86 words
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Article40 1977-07-21 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender for a tout of S2O million Si-day Treasury bills to be Issued from July 29 to July 38. Each tender must not be less than $250,000.40 words
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Article130 1977-07-21 8 LONDON, Wed. The dollar fluctuated around overnight levels In moderate but apprehensive early trading. The market was uncertain over statements by US Treasury Secretary Michael Blumenthal and Council of Economic Advisers Chairman Charles Schultze on slower but healthy economic US growth without any significant problems, they said. The dollar130 words
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Article154 1977-07-21 8 NEW YORK, Wed. The US dollar closed higher on the day against most major currencies despite loss of some of Its early gains In nervous afternoon trading yesterday dealers said. They said operators were uncertain about near-term prospects for the dollar, and today's early rally led to fluctuating154 words
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Article128 1977-07-21 8 HONGKONG, Wed. The US dollar firmed In active, nervous trading In further reaction to Its recent decline, with European buying boosting the US unit particularly in the afternoon. dealers said. The main activity was In the mark and yen, with the dollar rising to a late 2.2675/85 marks from128 words
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Article47 1977-07-21 8 ZURICH exchanges closing quotes on July 19 US 2 3975-3965 UK 4.1220-1290 Can 2.2615-2830 W Germ 105 73-83 NeUi 96.12-92 Prance 49.62-66 8el( 6.77-1/4.7S Dentn 40.47-50 Nonr 46 00 46 03 8wed 55.41-45 Italy 0.2716-2719 Austria 14.90-92 Port 6.23-26 Spain 2 771/2-78 Ar( 0.55-65 Japan 0.903/4-911/447 words
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Article51 1977-07-21 8 AUSTRALIA/ NZ exchanges on July 20 Australia: Sterling 657V 6505 US dollar 1.1274/ 1.1226 Ninety-day air mall buying rate* Sterling .6762 US dollars 1.1532 Ninety-day forward buying rates: Sterling 6564 US dollars 1.1161 New Zealand: Sterling 566&/ 5633 US dollar 9760/ .MM Ninety-day forward late: Sterling 5M3 US dollar51 words
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Article38 1977-07-21 8 FRANKFURT exchanges closing quotes on July 10 uarsMt/so Can 2.U10/90 UK S.MT/M8 NcUl M. J0/40 SvtUM.SMO Italy i.sn/vn PtUM 4t.lt/SI Jutn 0.S9S0/S0 Be If com t.40/41 Brig fin t.M/M Nor* 4S.4S/9B Opening quotes on July SO delayed38 words
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Article125 1977-07-21 8 TOKYO, Wed. The US dollar for overnight delivery firmed In moderate trading, closing at 264.75 yen compared with opening 264.30 and 264.05 at yesterday's close. No central bank Intervention was detected, dealers said. The dollar rose to 264.85 at one stage before dollar selling pared the gain. After an125 words
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Article200 1977-07-21 8 LONDON. Wed. Straight Eurobonds traded mostly steady to occasionally firmer with trading quiet to moderate, dealers said. US dollar issues picked up slightly after the recent quiet trend and gains of up to 1/8 point Interest centred among the more recent Issues and the $20 million Flsons 8 3/4200 words
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Page 8 Advertisements
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Advertisement170 1977-07-21 8 MONTHLY ECONOMIC REPORTS With monthly political luppkimnt for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BILLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided170 words
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TRANSPORT AND COMMUNICATIONS
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197 1977-07-21 9 UPI NEW YORK, Wed. Liberia, which provides a so-called "flag of convenience" for scores of freighters, will shortly enforce a number of measures to strengthen the nation's maritime safety programme, Including more frequent Inspections of Liberian-flag ships, the Liberian Shipping Council said yesterday.UPI - 197 words
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771 1977-07-21 9 MALAYSIA'S new legislative measures, designed to encourage Indigenous coastal shipping, may not be that effective after all, according to Mr. V. Kanapathy, economic adviser with United Malayan Banking Corporation (UMBC). In his article on the "Shipping Industry in Malaysia", written771 words
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Article387 1977-07-21 9 THE well-known Maersk Line, incorporated In Denmark. operates six regular liner networks to and from Singapore: 1.) Trade: US/Singapore/ US. Type of service: fully containerised express service. Frequency: Weekly vessels arrive Singapore every Monday and depart Tuesday. Ports served: To and from Toronto, Montreal, Halifax, Boston, New York387 words
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Article190 1977-07-21 9 AP LONDON, Wed. Sparse fixing featured the entire freight market yesterday with particularly quiet conditions experienced In the Far East. However, North Atlantic coal and grain fixing did give some Indication of the current rate picture as openings were filled on the US Gulf-Holland grain trade andAP - 190 words
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247 1977-07-21 9 THE seminar on Ship Financing in Singapore to be held on Friday promises to yield some interesting discussion. Organised by the Singapore Association of Shipbuilders and Repairers, the seminar's speakers will include Mr. P.H. Meadows, chairman and managing director ef Far EastLevlngston Shipbuilding,247 words
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Article149 1977-07-21 9 PERTH, Wed. The 86,000-ton Norwegian tanker Morgedal carrying 73,000 tons of Persian Gulf crude oil was towed free after the ship went aground about eight kilometres northwest of Fremantle earlier last night. The ship was reported undamaged and there was no oil leakage. Four tugs149 words
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93 1977-07-21 9 Reuter PARIS, Wed. Thai Airways International has ordered two additional European Airbus airliners and taken an option on four others, Airbus Industrie said. Thai International has now placed firm orders for four Airbuses worth a total of US$lOO million (***** million) with spare parts. The firstReuter - 93 words
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Article, Illustration453 1977-07-21 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge Wilco 6 (2100 after Wllco 7) (alongside Prometheus) 6/7 Bafge WUco 7 (0900 after Union 14) (alongside Prometheus) 6/7 Barge Wllco 10 (2100 after Union 16) (alongside Prometheus) 6/7 Barge Union 16 XO9OO after Union 15) (alongside Prometheus) 6/7 Bunga Mas (1500)453 words
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Article106 1977-07-21 9 Reuter HONGKONG, Wed. Hyundai Shipbuilding and Heavy Industries has obtained an order from the Nigerian Government to build 11 freighters, a Hyundai spokesman said. Hyundai will build nine 12,000-ton and two 16,000ton multi-purpose cargo ships for delivery In 1980 at a cost of about US$l4O million (***** million)Reuter - 106 words
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139 1977-07-21 9 AFP ATLANTA, (Georgia), Wed. Eastern Airlines wants to join In the cheap transAtlantic alrfalr market recently opened up by Britain's Laker Airways after years of official obstruction on both sides of the Atlantic. Eastern has asked the Civil Aeronautics Board (CAB) for permission to startAFP - 139 words
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Article89 1977-07-21 9 Reuter CANBERRA. Wed. Oar Imports into Australia rose to 104,744 units In the fiscal year ended June 90 from 93,802 In 1975/76, the Statistics Bureau reported. Imports of Japanese cars rose to 88,350 from 77,022 the previous year. Total June Imports were 10,382 cars against 10,182 InReuter - 89 words
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Article59 1977-07-21 9 WASHINGTON. Wed. US Kvernment experts are trvg to eliminate the sources of smoke and toxic gases they say have killed 500 persons In "survlvable" airline crashes In the past decade. The Government's federal Aviation Administration announced it will try to develop comprehensive standards for Inflammability and emission of59 words
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Article542 1977-07-21 9 1 ARRIVALS Optra Ur Ndk* Lm Tim I CPA CX003 0145 HKO MAS MH882 0010 KCH CPA CX710 1000 HLP |OIA QA980 1030 HLP SLA SQ211 1045 HLP OIA OA944 1055 PKU OIA OA9M 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN SIA SQ240 1210542 words
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Article184 1977-07-21 9 AFP LONDON, Wed. China and the Hongkong-based C.Y. Tung group appear to be today the only active buyers on the second-hand ship market, the first for bulk carriers and the other for tankers. Lloyd's List, the shipping journal, said that China, acting through Ocean Tramping, of Hongkong,AFP - 184 words
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Advertisement102 1977-07-21 9 Have you got your copy of the 1976 77 BUKU MERAH? "lit °'tv 6 n >? i It's the 1976/77 "Red Book office/library reference book covering the business scene in Singapore. It is complete. Built up over 80 years and updated each year. This book contains all the vital information102 words
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1075 1977-07-21 10 A.H. RASKIN - By A.H. RASKIN NYT THE FEVER charts that tell the country whether Its two most persistent economic maladies inflation and unemployment aregetting better or worse are themselves about to undergo extensive surgery. Both the Consumer Price Index and the monthly report on howNYT - 1,075 words
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Article, Illustration490 1977-07-21 10 VINCENT BUIST - By VINCENT BUIST Reuter STOCKHOLM: Swedes have been warned that after a quarter of a century's growing affluence, they face two lean years. Official statements here take an Increasingly cautious view of economic prospects as the Government studies an autumn packageReuter - 490 words
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Article, Illustration891 1977-07-21 10 ROBERT HERSHEY JR - CHARGES OF POLITICAL INTERVENTION By ROBERT HERSHEY JR. NYT WASHINGTON: For more than four years now, many Americans have suspected that a time bomb is ticking away In the vaults of the Federal Reserve headquarters on Constitution Avenue. It consists of minutesNYT - 891 words
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Article912 1977-07-21 10 JACK GEE - By JACK GEE FT FRANC*'B National Lottery and the racing tote are having to look to their laurels as "Loto"— a Latin variant of Anglo-Saxon Bingo charms millions of francs weekly out of citlsens' pockets. Loto's success is all grist for the mill of the Loterle Natlonale.FT - 912 words
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Article, Illustration497 1977-07-21 10 ALBERT CLACK - By ALBERT CLACK Reuter PARIB: A plan to make visitors to Paris feel more at home, especially those using the Metro underground railway, Is proving to be a flop. Brightly-coloured badges were issued to Parisians on which they were supposed to write "I speakReuter - 497 words
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Page 10 Advertisements
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Advertisement438 1977-07-21 10 r~ MBusiness Management in Penguins Th* Debt Trap; Cheryl Payer The International Monetary Fund is the most power- I ful supra-national government in the world today. m This book is about the efforts of poor netions to gain some control over their own economies and the mole of IMF in438 words
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289 1977-07-21 11 KUALA LUMPUR. Wed. Tourists spend between Ms3oo and $350 million in Malaysia each year since 1975 according to a sample survey. Deputy Trade and Industry Minister Datuk Mohamed Rahmat told the Dewan Rakyat today. Replying to Enclk Shamsurl bin Mohamed Saleh (NF-BaHk Pulau),289 words
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Article135 1977-07-21 11 Reuter BANGKOK, Wed. Thai teak exports last year increased to 72,819 cubic metres valued at U5537.5 million (Ss92 million) from 43,019 cubic metres worth $22.2 million the previous year, the Board of Trade said! Iraq was the most important buyer of Thai teak last year, takingReuter - 135 words
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Article67 1977-07-21 11 KUALA LUMPUR, Wed. Peninsular Malaysian rubber production In April fell to 90,580 tonnes from a revised 108,023 In March, but was above the 86,701 tonnes In April 1978, Statistics Department figures show. Exports In April fell sharply to 108,118 tonnes from 152,750 In March but67 words
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329 1977-07-21 11 Reuter KUALA LUMPUR, Wed. Some Malaysian mines may be withholding tin concentrate! from the market In anticipation of a further rise In market prices, according to Penang tin dealers. They were commenting on yesterday's 38 tonne fall In turnover to 180 tonnesReuter - 329 words
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337 1977-07-21 11 Reuter MANILA, Wed. The Philippines Is considering f (lacing sugar land under its and reform programme which requires landowners to sell their land to tillers. President Ferdinand Marcos disclosed this yesterday when he met cabinet ministers and representatives of the private sector to reviewReuter - 337 words
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296 1977-07-21 11 Reuter TOKYO, Wed. Japan's I real gross national product 1 growth rate In the second 1 quarter this year is estl- < mated to have slowed to two per cent from 2.5 per cent in i the January-March quarter, senior Japanese Erernment economist Mr.Reuter - 296 words
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Article205 1977-07-21 11 UPI Reuter TOKYO, Wed. The average monthly lnconle of Japanese salaried workers in May increased 2.2 per cent in real terms against the same month last year, the Prime Minister's Office said today. The average income this May was 225,920 yen (552,100), an increase of 2.2UPI; Reuter - 205 words
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Article30 1977-07-21 11 UPI TOKYO, Wed. Nissan Motors, Manufacturer of Datsuns, is considering another round of price mark-ups an passenger cars exported to the UB, the company president said today. UPiUPI - 30 words
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Article98 1977-07-21 11 AFP CANBERRA, Wed. The Australian Government today issued an International alert to more than 30 countries that milk powdei* Imported from Australia may be contaminated. The Government has also banned further exports until all contaminated milk has been wlthdtawn. The three companies which produce the fourAFP - 98 words
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Article, Illustration816 1977-07-21 11 Reuter COLOMBO, Wed. Sri Lanka's Prime Minister, Mrs Slrlmavo Bandaranalke, and her main political rivals are winding up a bitterly fought campaign for Thursday's general election. Mrs Bandaranalke's Sri Lanka Freedom Party (SLFP) Is fighting a general election for the firstReuter - 816 words
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231 1977-07-21 11 CONBTBUCTION. work has started on Ik* Honslag aad Urbaa Development fagy'i atdb-isewM View, according te a isihnsmi far Ike Urbaa Redevelopment Authority. Work site operations by new haihilng uoatoaclees, Motrobilt Bovis Coastructkm, begaa en July 15, with a imhfasus of about Motrobilt Bovis,231 words
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Article23 1977-07-21 11 AFP CANBERRA, Wed. Australian aborigines have instituted legal action seeking to prevent the mining and export of uranium In Australia. AFPAFP - 23 words
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553 1977-07-21 11 THE Post Office Savings Bank of Singapore has not yetapproached local supermarkets on the possibility of a link-up through the electronic fund transfer (EFT) system which will allow depositors to make purchases at supermarkets without the physical transfer of cash. This Is because553 words
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Article257 1977-07-21 11 BURROUGHS the world's second largest seller of data processing machines, has concluded a $2 million contract to supply eight small computers to the Malaysian Government. These computers will be Installed In state capitals where they are expected to reduce considerably the amount of labour required for routine257 words
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Article261 1977-07-21 11 Reuter SEOUL, Wed. The Korea Foreign Exchange Bank will introduce £10 million (5542.5 million) In loan from Lloyds Bank International for subloanlng to local importers of British facilities and services, the bank said today. This Is the fourth such loan from the British bankReuter - 261 words
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Advertisement279 1977-07-21 11 APPOINTMENTS ECONOMIC DEVELOPMENT BOARD flb SENIOR OFFICERS The£conomic Development Boord would like to invite applications for the obov# appointments. With on international network of overseas centres in 10 major cities, EDB has the primary task of developing industries in Singapore. This includes policy planning, promotion of modem industries and protects279 words
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Advertisement332 1977-07-21 11 r: m i k I I A DIVISION OF TEXAS INSTRUMENTS INCORPORATED HAVE IMMEDIATE OPENINGS FOR MAINTENANCE ENGINEERS (Computer Centre) QUALIFICATIONS: Degree in Electrical Engineering with major in Electronics. EXPERIENCE: Preferably with one or two relevant years' experience in maintaining Computers. NATIONALITY: Singaporean, preference will be given tO| those, who332 words
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Article, Illustration713 1977-07-21 12 THE Singapore stock market appears poised for another bull run, if the current firm trend Is any Indication. While most of the action has been centred on the lower and medium priced shares over the past fortnight, It Is expected713 words
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Article315 1977-07-21 12 FLYING.Tiger Line has been granted all-cargo rights to new Asian destinations by the Civil Aeronautics Board (CAB) of the US. President Carter, the airline says, has approved the CAB osder. The new routes approved are between the US and Singapore, Malaysia and Indonesia, and between315 words
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Article97 1977-07-21 12 UPI LONDON, Wed. British Airways will Increase Its supersonic Concorde flights between London and Washington to six a week because of growing passenger demand, an airline spokesman said today. British Airways currently flies Concordes between the two capitals four times a week. Starting August 21,UPI - 97 words
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Article123 1977-07-21 12 AFP LONDON, Wed. The international sugar meeting of the world's major producers and consumers started in London as scheduled today. Fears that the talks, organised by the International Sugar Council, would be delayed were finally dispersed by the belated arrival of the Cuban delegation just threeAFP - 123 words
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Article720 1977-07-21 12 LONDON, Wed. Share price* declined, but government bonds were up to 1/4 point higher on overnight levels In thin trading conditions, dealers sakl. Fears of a rise In the minimum lending rate appear to fade, they said. At 3.00 pm the Financial Times index was down 5.1 at720 words
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487 1977-07-21 12 HONOKONO, Wed. Three persons have been ordered to attend a High Court hearing next Wednesday, arising from the alleged disposal of San Imperial shares. The three are the new chairman of San Imperial Corporation, Mr. David Ng Pak Shing; a solicitor, Mr. Melville487 words
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Article240 1977-07-21 12 KEPPEL Shipyard's proposed one-for-one scrip issue Is no more than an exercise in capitalising the company's reserves and no other significance should be read Into it. A spokesman for the wholly government-owned shipreDalrlng company said this yesterday, to stem speculation that it may be poised240 words
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Article112 1977-07-21 12 PIHLIPB has begun a heavy campaign to push Its lowpriced electrical consumer products. It has been plugging on TV especially two under $20 Items Philips hairdryer and lightweight Iron and Its 12-Inch black and white portable TV set at "only $255." Emphasis on all three 20 seconds112 words
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Article218 1977-07-21 12 Reuter GENEVA, Wed. Talks on renewing an International textiles agreement seem almost certain to end in deadlock on Friday because of disagreement between the European Economic Community (EEC) countries and three Third World exporting nations, Informed sources said tosources said India. Brazil and Egypt insisted that theReuter - 218 words
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Article145 1977-07-21 12 Reuter HONGKONG, Wad. Cathay Pacific Airway* and Thai International will be J emitted ta make aditieaal stepevers la Baagkak and Haagkaag reepectively following aa interna acoord In air talks between the Britiah and Thai gavanuneats, spokesmen for the two airlines •aid. A Cathay spokeenma said theReuter - 145 words
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Article81 1977-07-21 12 MALAQBIA has joined 11 other countries as signatory to the project development providing for the establishment of the Asia and Pacific Centre for Women and Development based in Tehran, Iran. The others are Bangladesh, India, Indonesia, Iran, South Korea, Nepal, Netherlands, Pakistan, Phlliplnes, Thailand and the UB. The81 words
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Article, Illustration348 1977-07-21 12 LEGISLATION wlB be Introduced'to speed up the progress of metrication In Singapore. This vu disclosed yesterday by Mr. Baey Llan Peek, chairman of the Singapore Metrication Board In a talk at a Rotary Club lunch. -But he assured his audience that laws to348 words
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Article275 1977-07-21 12 FULL employment for all prisoners this Is the aim the Singapore Corporation of Rehabilitative Enterprises (Score) has set for Itself this year. In Its first fiscal year ended March 1977, Bcore doubled employment opportunities from 1,820 Inmates or 45 per cent employment to 3,572 "gainfully275 words
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Article178 1977-07-21 12 THE toy business In Singapore is estimated at $100 million and growing, according to a local toy agent, it is this potential that has made Wywy, agents for Ricoh office equipment, diversify into the toy trade. Wywy, appointed sole agents for Hasbro Industries, a leading toy manufacturer178 words
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142 1977-07-21 12 Reuter TOKYO, Wed. Japan's Mitsubishi Corp, Nlsshln OO Mills and Kao Soap plan to withdraw from their 51 per cent stake In Kamanta Vegetable Oil, a Joint Indonesian coconut oil venture, following its poor performance, Kao Soap said. v The Joint firm was established InReuter - 142 words
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Article63 1977-07-21 12 MANILA, Wed. The Australian and New Zealand Eastern Shipping Conference (ANZEBC) will Increase cargo rates by 12 per cent from Oct 1 due to rising operating costs of member lines, ANZEBC officials said today. The increase, the eighth introduced by ANZEBC since 1970, is expected to be63 words
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Advertisement189 1977-07-21 12 THANK YOU, RIDGEWOOD. We're glad we were of help. Bwyingoffirtf homo. ft moomdiKovaringowhoto now luxurious Mahomo. it maam dacowaringa whaio now luaurious Ma- M*. oo invafciabio tnvatfmoni m your form>y's futuro VW tfw fafawiout improved 1600 and 3000 «how un«» at Katakoua ttooandsos how you moMia D 9 wwigf fi189 words