The Business Times, 11 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
Page thumbnail Page 1
  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P> 300/1/77 THURSDAY, AUGUST 11, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Lock icon Record turnover
      61 1 AFP BANGKOK, Wed. Thailand's securities exchange registered a record US$lO million (8124.4 million) trading volume yesterday, the highest yet in its two-year history. The record turnover was generally seen as an expression of growing public Interest in industrial and commercial Investments in Bangkok through the securities exchange, and
      AFP  -  61 words
    • Article
      Lock icon Coca-Cola tussle
      69 1 UPI NEW DELHI, Wed. The Coca Cola Co., faced with a shutdown unless It yields Its "secret formula" and ownership of its branch here, said today it hopes to find a way to keep operating. An official of the soft drink firm's Indian branch said a high-ranking Coca-Cola
      UPI  -  69 words
    • Article
      Lock icon Car project
      64 1 UPI ROME, Wed. Fiat president Gianni Agnelli said today his Italian car firm is studying a project with Renault of France, Volkswagen of west Germany and possibly a Japanese car maker to build a car plant In Algeria. He said the operation could get under way by the
      UPI  -  64 words
    • Article
      Lock icon No notes by post
      47 1 Reuter KUALA LUMPUR, Wed. The Malaysian government today banned sending currency notes by registered post to foreign countries or within Malaysia. A Communications Ministry statement said effective this month no compensation would be paid" for loss of registered articles containing currency notes. Reuter.
      Reuter  -  47 words
    • Article
      Lock icon Japanese pay hike
      74 1 UPI TOKYO, Wed. Japanese government workers will receive an average 8.74 per cent pay hike In the current fiscal year, which began this April, Mr. Sadao Fujli, president of the National Personnel Authority said today. The authority yesterday recommended an average 6.92 per cent or 12,006 yen
      UPI  -  74 words
    • Article
      Lock icon Dow Jones
      92 1 UPI NEW YORK, Wed. Stocks wandered aimlessly early today in slow trading. There was little in the news background to influence the market In either direction. Some analysts said investors were waiting tor a government report on July retail sales and the Federal Reserve Board's next money-supply figures.
      UPI  -  92 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      216 1 TIN shares featured bullishly in a generally easier market on the Stock Exchange of Singapore yesterday. While these shares recorded hefty gains, easier trading elsewhere brought prices marginally lower. At the cloee, the Business Times index dropped 6.85 points to 401.25 though the Straits limes Industrial index
      216 words
    • Article
      In Kuala Lumpur
      106 1 Rises Most active Straits Trading 0.10 D. Keramat 7.80 Sentosa 1.03 Supreme Corp 1.92 Olympta 2.13 Tronoh Mines 5 20 Kramat 4.00 Aokam 3.00 Duff Dev. 1.54 Lower Perak 1.72 Talam 1.74 Renong 2.00 Falls PEG I 4.00 Sel. Dredg. 0.15 +.30 +.30 .23 .21 .21 .20
      106 words
  • Article
    Proposals are in Hon's hands
    848 1  -  MOVE TO AMEND COMPANIES ACT By ARTHUR NG SCALED down versions of 23 proposals put up by the Attorney General's Chambers to tighten corporate behaviour are now being studied by the Minister for Finance, Mr. Hon Sul Sen. The proposed amendments to the Companies Act
    848 words
  • Article
    Golden Hope applies for seat
    171 1 A RECENTLY incorporated company, Golden Hope Securities (Pta), has applied for a seat on the Stock Exchange of Singapore (SES). This Is believed to be the first application for membership of SES since Un Securities received Its seat in June last year. According to sources,
    171 words
  • Article
    Lock icon OECD: Japanese recovery less robust than before
    655 1 UPI PARIS, Wed. Japan's current recovery has been less robust than its previous comeb&ckS-JrOßi-recessions, the Organisation for economic Cooperation and Development (OECD) said today, and it may weaken even more. In one of its periodic reports on its 24 member states, the OECD
    UPI  -  655 words
  • Article
    Lock icon Business activity still stagnant
    134 1 AFP TOKYO, Wed. Japan's business activity 1s still stagnating and there is no sign of it picking up in the foreseeable future, a central bank report said today. According to the monthly report by the Bank of Japan, public investments are on the rlae but private
    AFP  -  134 words
  • Article
    Lock icon KL ends delays of Australian goods
    229 1 Reuter KUALA LUMPUR, Wed. Malaysia has halted Its policy of administrative sanctions against Australian Imports, government officials said. But they said delays might be resumed later, and Malaysian Importers are still being advised unofficially to seek nonAustralian suppliers. The Ministry of Trade and Industry
    Reuter  -  229 words
  • Article
    Part of A$160m loan placed here
    160 1 A PORTION of an A* 180 million loan offering from the Australian telecommunications authority has been placed with financial institutions In Singapore, Malaysia and Hongkong. The placement, which was carried out by a prominent merchant bank In Singapore, is believed to be the first
    160 words
  • Article
    Goods in forged LC case unclaimed at PSA godown
    325 1 GOODS shipped to Singapore under 15 forged Banque National Do Paris letters of credit by a Taiwanese trading firm, She Ang Inc., are now lying unclaimed at the Port of Singapore Authority god own. This was disclosed by some of the
    325 words
  • Article
    Pahang Cons sells stake in Plantation Holdings
    526 1 TWO months after tt placed two million shares of Plantation Holdings for sale in London, Pahang Consolidated has completed the divestment exercise by disposing of Its remaining stake of 8.09 million shares to the Malaysian Multipurpose Cooperative Society Bhd. The sale will not
    526 words
  • Article
    YEO HIAP SENG (M) RIGHTS ISSUE
    92 1 YEO Hlap Seng (Malaysia) yesterday announced a rights Issue of one* for-one at par which will double its paid-up capital to MslB million. The company also reported a 161.7 per cent jump In (roup pre-tax profit to $3.67 million for the first nine months
    92 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      37 1 Colour TV is simply great Overseas New*/ Crosswords Overseas New*/ TV A Radio Local Co Newt International Co News Local Stock* Overseas Stocks Pi Commodities Transport A ComP3 munications P4 Features PS Local A Overseas PC News
      37 words
    • Advertisement
      Page 1 Advertisements Column 2
      84 1 SHAUP SOLVED (FAST, ACCURATE) THE MOST COMPLICATED SCIENTIFIC CALCULATIONS GET SHARP CALCULATORS Insist on SHARP Worldwide Guarantee Card Issued by ROXY S PORE PTE LTD e -v > ,N> NrvCv N 0 Ox c* N V s/ m M ■x v 'a *SS *Ss eis<^'^ Vel 8026 Slim 8 D*g>t
      84 words
    • Advertisement
      Page 1 Advertisements Column 3
      247 1 s WHISKY 100% SCOTCH WHISKIES blended and bottled in Scotland under Government Supervision Imported by Cold Storage Which bank works for you around the clock, and around the world? Wo do. Bank ot Amenta, fodav. when world-wide money markets and exchange ratesehanye i apidh. the ahtlit to make on the-spot
      247 words
    • Advertisement
      Page 1 Advertisements Column 4
      8 1 iu 11 to au ucu SEE PAGE 4
      8 words
Page thumbnail Page 2
  • OVERSEAS
    • Article
      Lock icon Broader definition of hedging by CFTC
      194 2 Reuter WASHINGTON, Wed. The Commodity Futures Trading Commission (CFTC) adopted new proposals, scheduled to take effect around Oct 1, which generally broaden the scope of the hedging definition to Include commercial risk shifting practices. To recognise the potential for market disruption if certain trading
      Reuter  -  194 words
    • Article
      Lock icon Iran's July oil output at a low
      77 2 Reuter TEHERAN. Wed. Iran's daily oil production in July dropped to its lowest level of the year, to 4.7 million barrels from 5.1 million barrels in June, the stateowned National Iranian Oil Co. said, t Daily average exports also fell to 4.1 million
      Reuter  -  77 words
    • Article
      Lock icon The 'blues' hit European denim market
      569 2 Reuter BRUSSELS, Wed. The European denim market Is confused and depressed, suffering from conflicting fashion trends, cheap imports from Asia, a general depression of the European textile market, and the spillover of a major battle in the US between the main denim manufacturers, Industry
      Reuter  -  569 words
    • Article
      Lock icon Blumenthal backs energy use taxes
      272 2 Reuter WASHINGTON, Wed. Treasury Secretary Michael Blumenthal asked the Senate to Increase some of the energy use taxes approved by the House last week to encourage more oil and natural gas conservation. Mr. Blumenthal told the Senate Flnancle Committee the Administration would like to see
      Reuter  -  272 words
    • Article
      Lock icon DEFICIT WIDENS
      84 2 Reuter OTTAWA, Wed. Canada's budget deficit rose to US$6.3 billion (5515.3 billion) In the fiscal year ended March 31 from $4.02 billion the previous year, preliminary finance department figures show. Revenues for the latest fiscal year were $32,640 million and expenditures $38,941 million. Meanwhile, the seasonally adjusted Canadian
      Reuter  -  84 words
    • Article
      Lock icon Lawyers get a drubbing from business leaders
      280 2 NYT CHICAGO. Wed. Invited by the Bar to offer their views of lawyers, several prominent Chicago businessmen acted aa a blue-ribbon grand jury, handing up what amounted to an indictment of the profession. They found lawyers overpriced, pedantic, too talhative, too combative and
      NYT  -  280 words
    • Article
      Lock icon Ford Fiesta date
      49 2 Reuter DETROIT, Wed. Ford Motor Co said Its dealers will introduce the Oerman-bullt Ford Fiesta on August 26. Ford said the US introduction was delayed pending federal action on revised 1978 model emission standards. The front-wheel drive mini-car went on sale in Canada on June 24.
      Reuter  -  49 words
    • Article, Illustration
      Lock icon Probe into Lance's finances deepens
      695 2 NYT WASHINGTON. Wed. The Comptroller of the Currency has broadened his Investigation of Budget Director Bert Lance's finances to include the activities of two banks he headed in Georgia, as well as loans he received from major banks, sources close to the Investigation said here
      NYT  -  695 words
    • Article
      Lock icon China likely to step up imports of goods
      235 2 AP WASHINGTON, Wed. China will probably begin buying more goods from other countries with Its new leadership showing a favourable attitude toward trade, the US Commerce Department said yesterday. The new leaders are taking a "pragmatic stance" on foreign trade and appear
      AP  -  235 words
    • Article
      Lock icon Australian economy won't pick up yet
      175 2 Reuter MELBOURNE. Wed. The 1977/78 fiscal year (July/June) will be another difficult year for the Australian economy with aggregate output stagnant and with employment continuing to rise, the Melbourne University Institute of Applied Economic and Social Research said. In its latest Quarterly Australian Economic
      Reuter  -  175 words
    • Article
      Lock icon Mining investments will be felt in early 80s
      125 2 AP SYDNEY, Wed. Australia will have to wait at least until the early 1980s before Its rapid growth In mining investment may begin to resolve balance of payments problems and generate economic recovery. This conclusion is drawn from a major survey of
      AP  -  125 words
    • Article
      Lock icon UK banking on North Sea wealth to get out of the dumps
      591 2 AP LONDON, Wed. Britain is seeking recovery from Its worst economic depression in over 40 years with the help of a billion-dollar North Sea oil bonanza. Success, so far, seems only partial. External signs indicate better times are
      AP  -  591 words
    • Article
      Shipowners' pledge
      68 2 HONGKONG, Wed Shipowners here have promised to cooperate fully with Hongkong and Liberlan authorities fighting to stamp out a forgery ring issuing false certificates of competency to seamen around the world. The racket in fraudulent work documents was reported to the Marine Department here by Liberian maritime authorities
      68 words
    • Article, Illustration
      Lock icon Dutch parties agree on pay restraint
      319 3 Reuter THE HAGUE, Wed. Dutch Prime Minister Joop Den Uyl reached agreement with potential coalition partners on the need for a two-year pay restraint as part of a plan to cut unemployment, an official statement said. The accord on economic policy guidelines for the
      Reuter  -  319 words
    • Article
      Lock icon Public spending control a task for Rome
      288 3 Reuter ROME, Wed. Control of public spending and the state deficit, with a financing gap of one trillion lire (552.7 billion) still to be filled this year, is one of the main economic tasks now facing the government, according to economists here. The
      Reuter  -  288 words
    • Article
      Lock icon Grain production must increase
      228 3 AP WASHINGTON. Wed. The world's three major grain-exporting countries would have to increase crop production at a rate of four per cent a year Just to make up the gap between the food available In developing countries and what all people need, according to statistics in
      AP  -  228 words
    • Article
      Lock icon Britain halts loan for Bolivian mines
      157 3 Reuter LONDON, Wed. The British government has shelved a £19 million (SsBo million) loan for the Bolivian mining industry after accepting advice that miners' rights were being violated in Bolivia A British spokesman said the Bolivian government was told that the projected loan to
      Reuter  -  157 words
    • Article
      Lock icon British govt did not borrow in July
      239 3 Reuter LONDON, Wed. The British government showed a negative borrowing requirement In July, repaying £195 million (SBBl9 million), compared with a deficit In July last year of £111 million and In June this year of £26 million, Treasury figures show. Treasury officials noted
      Reuter  -  239 words
    • Article
      Lock icon Borrowing doubles
      68 3 Reuter COPENHAGEN, Wed. Denmark more than doubled Its foreign borrowing in the first half of this year to 11.6 billion crowns compared with 4.8 billion in the year-ago period and against 11.8 billion In the whole of 1976, statistics bureau preliminary estimates show. State borrowing abroad accounted for
      Reuter  -  68 words
    • Article
      Lock icon More please
      31 3 Reuter HAMBURG, Wed. Finance Minister Hans Apel will ask West German regional governments to contribute more towards supporting economic growth and overcoming unemployment, Government spokesman, Mr. Armin Gruenewald, said.
      Reuter  -  31 words
    • Article
      Lock icon Treasury auction
      49 3 Reuter WASHINGTON. Wed. The Treasury said it will pay down debt by US$7 million (8116.8 million) at the weekly auction next Monday. The treasury said it will sell $2.3 billion of three-month bills and $3.4 billion of six-month bills to redeem $5.7 billion of maturing debt. Reuter.
      Reuter  -  49 words
    • Article
      Lock icon Spanish tax squeeze on the rich
      178 3 Reuter MADRID, Wed. The Spanish government has unveiled tax reforms to squeexe the rich and curb tax evasion with Jail sentences. Finance Minister Francisco Fernandes Ordonez outlined draft proposals introducing wealth and super taxes, death duties, taxes on some luxury goods and bonuses for
      Reuter  -  178 words
    • Article
      Lock icon French M1
      44 3 Reuter PARIS, Wed. French Ml money supply rose 0.8 per cent in May, seasonally adJusted; the same as the April Sin, the National Credit uncll said. This gave a 8.1 per cent year-on-year rise compared with 7.4 per cent In April. Reuter.
      Reuter  -  44 words
    • Article
      Lock icon ICI HELPS EMPLOYEES GO INTO POLITICS
      121 3 Reuter LONDON. Wed. Britain's biggest industrial company has drawn up a scheme to encourage talented employees to stand for Parliament. The company. Imperial Chemical Industries (ICI), stated yesterday it felt too few MPs have managerial or executive experience. So it is making it easier
      Reuter  -  121 words
    • Article
      Lock icon Unbridled inflation in Argentina
      319 3 AP BUENOS AIRES, Wed. The Argentine military government has reported a July cost of living Increase of 7.6 per cent, bringing the inflation rate In 1977 to a staggering 64.1 per cent. Private economists immediately expressed concern, saying the July figure put the annual inflation rate
      AP  -  319 words
    • Article
      Lock icon Thelma hits economy
      63 3 Reuter TAIPEH, Wed. Taiwan's estimated Industrial growth for 1978 will drop to 9.1 per cent compared with 13 per cent projected for this year, according to the Industrial Development Bureau here. The bureau said the decline was due to factory damages inflicted recently by typhoons Thelma and
      Reuter  -  63 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      247 2 iiiiiniiii'ii'ii A S* r i K MOST EXCITING SCENES CONTEST SPONSORED BY Times Distributors Sdn. Bhd. and Pan Books At left ore five exciting scenes from Columbia Pictures' "THE DEEP" based on the new best selling novel by Peter Benchley, the author of "JAWS". All you have to do is
      247 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      23 2 I Scene "The offices of fbnsonbfs ffe/monen+ ('Oof faces W) ueswcxxD vwe <»»u>W Be^ER. ■Mtte wps some THIHG 5-nepvce BeoJ'T "Wfvr 1 A*
      23 words
    • Miscellaneous
      Page 2 Miscellaneous Column 2
      51 2 THE WEATHER WEATHER report for 24 hour* Aug 10 at Singapore airport. prior to 7.30 p.m. Maximum Temperature 30.7° C Associated Humidity 74 Minimum Temperature 22.8° C Aaeociated Humidity 85 Hours of Sunshine 5.45 Rainfall in Millimeter* 10 7 Rainfall for the Month 5&2 Total Rainy Days for the Month
      51 words
    • Miscellaneous
      Page 2 Miscellaneous Column 3
      648 2 rs a s anaa TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 4 Are such men cut out for the job? (6) 7 Homely people? (3, 5) 8 Padded suit! (6) 10 Pick of the people, literally (5) 13 Killer I can reform (4) 14 Puritan girl (4) 15 Continental country that shows
      648 words
Page thumbnail Page 3
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      369 3 4 I 'A -rf r 4 '4 > *A KT 4 ra T n M Pfe 1 I e sV V*l *t tl v. )<\ ij ik' •I n 4 A li g Jl n is *1 2 If !> at; w? li ii IE 2S ii 4It it <*
      369 words
  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      236 3 SINGAPORE 5 3.00 PM Opening announcements •followed by Window (ChineseRepeat)* 3.25 Diary of Events (Chinese) 3.30 Eight Heroes Of Shou Lin (Repeat)* A Mandarin drama serial with English subtitles 4.20 Intermission 6.05 Opening announcements followed by Lassie Lassie's Rescue Mission* 6.30 News in Brief* 6.35 Warna-Warni (Malay-Repeat)* The Good Life
      236 words
Page thumbnail Page 4
  • COMPANY NEWS
    • Article
      YHS(M) all set to turn in bumper profits
      488 4 YEO HI AP SENG (Malaysia) Is all set to turn In bumper profits for the current year ending Sept 30, 1977. ■For the first nine months ended June 30, 1977, the group achieved a thumping 161.7 per cent rise in pre-tax profit
      488 words
    • Article
      DIVIDENDS ANNOUNCED
      168 4 j 2JJJ MM t Mbvmi i\wj M tf MA JBJl mi JMV» Ana ii 11*1 (Mb Itvff lalwaito IJSTt Aug iM t»n IMTH tm jMlyS IM M Usip Imi iM MrM Au«aa IM IM i»U M»» Auf a iMJ UbiiA h»Mk Man IM IM hn BMOW IM July*
      168 words
    • Article
      Latest Results
      143 4 WORLDWIDE HOLDINGS Consolidated pre-tax loss M 5116,960 ($4.57 million) for the year ended Dec 31, 1976. Overpayment of taxation in previous years now recovered $113,984 (nil) leaving net loss $2,976 ($4.57 million). Loss carried forward $3.58 million ($3.58 million). Parent company pre-tax loss $119,062 ($3.89 million). UNITED MALACCA
      143 words
    • Article
      Step-up in AIP activities
      963 4 LONDON incorporated Anglo-Indonesian Plantations is to widen its sphere of agricultural related activities to cover member countries of the Association of South-East Asian Nations and other parts of the Third World. In line with this policy, the company established a wholly owned subsidiary, Anglo-Asian Investments in
      963 words
    • Article
      FMM sale
      81 4 SHAREHOLDERS of Faber Merlin Malaysia have approved the proposed sale of its 25.1 per cent stake In Pahang Consolidated to Mars Finance for M 514.46 million. The company said yesterday that approval for the sale of the 9.64 million ordinary Pahang shares was given at Its EOM on
      81 words
    • Article
      Higher costs continue to hit Bata's earnings
      466 4 HIGHER costs of production continued to erode margins at Bata (Malaysia) during the first six months of the current year ending Dec 31. 1977. At the half-way mark, the company only managed an 8.1 per cent rise In pretax profit to M 51.96
      466 words
    • COMPANY MEETINGS
    • Article
      CHICAGO BOARD OPTIONS
      1276 4 On August 9 TRADING on the Chicago Board Options Exchange rose to 90,567 contracts on Tuesday from 57,584 contracts on Monday. OPTION OCT JAN A PL STOCK Alcoa 90 15/16si/a 31/4 49 Alcoa 60 1/16 1/4 5/8 49 Am Exp 35 UNTRD 65/6 UNTRD 40 V4 Am
      1,276 words
    • Article
      PEOPLE IN BUSINESS
      192 4 BANK of America has recently announced the promotion of Mr. Kuik 8m Juan from assistant manager to assistant vlce-presl-dent. Mr. Kuik. 34, joined the hank in 1972 prior to which he was with a leading local bank. He is a member of the Chartered Institute of Secretaries
      192 words
    • Article
      Lock icon General Motors dividend likely to improve
      796 4 NYT NEW YORK. Wed. General Motors -apparently disappointed shareholders late last Tuesday by declaring its usual 85-cent dividend after reporting second-quarter profit of US$l billion, the largest quarterly result ever for an Industrial manufacturing company. Sources close to the company said the dividend was
      NYT  -  796 words
    • Article
      Growing importance of Arab dollar market
      506 4 LONDON. Wed. The international money market in the Arabian Oulf, centred on Bahrain, Is growing so fast It justifies a fresh description the Arab dollar market. This challenging view of the development of the offshore money market, orchestrated by Bahrain, into the key Middle
      506 words
    • Article
      Lock icon Argentina approves loan for Segba
      94 4 Reuter BUENOS AIRES, Wed. The Argentine government said it approved a US$5O million loan granted to the state-owned electric power company Segba by a syndicate of foreign banks led by the Bank of Nova Scotia. Segba will use the funds to finance a five-year expansion
      Reuter  -  94 words
    • Article
      Lock icon Banque Francaise note
      64 4 Reuter LONDON, Wed. Arrangements for the Banque Francaise Du Commerce Exterieur US$3O million floating rate note issue due 1984, have been completed, co-manager Credit Suisse White Weld Ltd said. As planned, the notes will carry interest payable semiannually at per cent above the average London Interbank Offered
      Reuter  -  64 words
    • Article
      Lock icon BRISTOL BOND ISSUE
      102 4 Reuter LONDON, Wed. The City of* Bristol Is issuing a CIS million 13 per cent 1985 redeemable bond at 98-1/2 on Aug. 11, UK stock brokers Pember and Boyle said. Gross Interest yield Is 13.198 per cent and gross yield to redemption Is 13.307 per cent. The
      Reuter  -  102 words
  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      157 4 GAMBLERS HANDBOOK 0 P w f/ K 1 nts tf fp I 4 7 V jfl r p' u mi by E. Lenox Figgis F.C.A. A practical handbook explaining how betting takes place on the world's most popular betting pastimes; including horses, dogs, football pools, sporting events, casino games, such
      157 words
Page thumbnail Page 5
  • Article
    Lock icon Genesco to liquidate apparel divisions
    561 5 NORTH AMERICAN COMPANIES NYT NEW YORK, Wed. J.L. Hanigan, chairman of Oenesco Inc., one of the largest manufacturers and retailers of apparel, confirmed yesterday that his company will sell or liquidate its women's and children's apparelproducing divisions because, as a group, they have been "bleeding"
    NYT  -  561 words
  • Article
    Lock icon Cook sells corn, wheat to Soviets
    115 5 Reuter COOK INDUSTRIES said It has sold 500,000 tonnes of corn and 250,000 tonnes of wheat to the USSR. Cook, reporting the sale to the US Department of Agriculture, said It is part of the agreement under which the Soviet Union must purchase a
    Reuter  -  115 words
  • Article
    Norton Simon
    28 5 NORTON SIMON said It increased its quarterly dividend to USI9 cents from 15 cents, payable on Nov 30 to stockholders on Its record on Nov 4.
    28 words
  • Article
    Lock icon Arizona producers lay off workers
    317 5 Reuter SEVERAL copper mining operations in Arizona have laid off or are planning to lay off employees, company spokesmen said. Anamax Mining win lay off around 180 of the 1,800 employees at Its Twin Buttes, Arizona copper mining and milling operation on Aug 12, an
    Reuter  -  317 words
  • Article
    Lock icon NZ move to take over oil, gas interests
    121 5 ASIAN COMPANIES Reuter WELLINGTON, Wed. The New Zealand government is setting up a limited liability company to take over Its Interests in oil and gas exploration and marketing, Minister of Energy Resources George Galr said. In an Interview with the New Zealand
    Reuter  -  121 words
  • Article
    Lock icon World Bank to issue bonds
    99 5 Reuter TOKYO, Wed. The World Bank has agreed with Japanese underwriters to Issue a 30 billion yen, seven per cent, 15-year bond, at 99.75 per cent to yield 7.03 per cent, Dalwan Securities said. The bond will be sold from today to Aug 19 through
    Reuter  -  99 words
  • Article
    Lock icon Toyo, Mitsui awarded contract
    61 5 Reuter TOKYO. Wed. Toyo Engineering and Mitsui have been awarded a US$BO million contract to export an ammonia manufacturing plant to the Soviet Union, Toyo said. The plant, with a dally capacity of 1,380 tonnes, will be installed near Irkutsk. The deal will be financed through
    Reuter  -  61 words
  • Article
    Std. Oil
    39 5 ST ANDARD OIL of Indiana said its Amoco International subsidiary and two other companies started an exploratory well near the Calamlan group of Islands In the north-west Palawan Sea, about 42 km offshore from Palawan Island. Philippines.
    39 words
  • Article
    Lock icon Peko counter bid for CAI
    314 5 Reuter Reuter SYDNEY, Wed. PekoWallsend said it will offer A 53.50 cash or three Peko shares for every four shares in Coal and Allied Industries. The offer is a counter bid to the combined bid by Conslnc Rio Tinto of Australia (CRA) and Howard Smith
    Reuter  -  314 words
  • Article
    Lock icon Exchange confirms suspension
    53 5 Reuter HONGKONG, Wed. A spokesman for the Hongkong Stock Exchange confirmed trading In shares of Hutchison International and Hongkong and" Whampoa Dock will be suspended from today. This follows a request for suspension from the two companies for about two weeks while talks on their proposed merger
    Reuter  -  53 words
  • Article
    Lock icon Canon revises profit estimate upwards
    200 5 Reuter TOKYO, Wed. Canon has revised upwards Its estimate of 1977 after-tax profit to 5.8 billion yen from the original five billion, on sales also revised upwards to 122 billion from 120 billion. These compare with after-tax profit of 3.60 billion yen on sales of
    Reuter  -  200 words
  • Article
    Lock icon Asahi expects rise
    159 5 Reuter TOKYO, Wed. Asahl Glass said It expects a 8.7 per cent rise In after-tax profit for 1977 to 10 billion yen from 9.20 billion last year, on sales up 9.6 per eent to 320 billion from 292.06 billion. The market for sheet glass for building purposes
    Reuter  -  159 words
  • Article
    Setback at Atlas
    53 5 MANILA. Wed. Atlas Consolidated Mining and Development suffered a 41 per cent setback In earnings in the first half of this year. Net profit fell to 65.5 million pesos from 111.64 million pesos In the 1976 half. This constitutes earnings per share of 78 centavos compared with
    53 words
  • Article
    Lock icon Anderson offer
    54 5 Reuter HONGKONG, Wed.i Anderson (Holdings) said Its offer for all tne share capital of Asia Stone Go Ltd has become unconditional following acceptances In respect of 29.89 million shares or 90.58 per cent of issued capital. An extraordinary general meeting of Anderson approved the Issues of shares to
    Reuter  -  54 words
  • Article
    Lock icon Court denies Babcock petition
    138 5 Reuter THE New Jersey State Supreme Court denied a petition (or certification entered In the court on behalf of Babcock and Wllcos. A court spokesman said the petition was an attempt by Babcock and Wilcox to appeal a decision handed down late last week by the
    Reuter  -  138 words
  • Article
    Lock icon Gulf Oil acquires Kewanee shares
    75 5 Reuter GULF OIL said It acquired 3.38 million shares of Kewanee Industries, or 68 per cent of the voting control, for $47.50 a share. Oulf also said Its subsidiary which made the acquisition proposes to enter Into a new merger agreement under which holders of
    Reuter  -  75 words
  • Article
    Call to end strike
    67 5 THE United Auto Workers said it instructed officers of Its Local 372 to end an unauthorised strike at Chrysler Corp's Trenton, Michigan engine plant. Separately, Chrysler said a Federal Court here Issued a temporary restraining order against illegal picketing of the plant by employees protesting the
    67 words
  • Article
    Lock icon John Swire arranges share placing
    201 5 UK COMPANIES Reuter JOHN SWIRE and Sons said It made arrangements with merchant bank Lazard Brothers for the public placing of 8.15 million 6.3 per cent preference shares at 64.5p per share. Application has been made to list the preference shares on the London Stock
    Reuter  -  201 words
  • Article
    Lock icon Reed sold ATV stake for £8m
    73 5 Reuter REED INTERNATIONAL said the holding of 8.77 million 'A' ordinary shares of Associated Television Corp (ATV) owned by Reed subsidiaries has been sold for £8.1 million. The shares, which represent 21 per cent of ATV. were placed with institutional Investors at 92Hd each.
    Reuter  -  73 words
  • Article
    Lock icon Probe into pay breach at Heinz
    192 5 Reuter BRITISH government departments are Investigating reports that H.J. Heinz has granted pay Increases that breach the official pay guidelines, government sources said. The company Is reported In the press to have granted settlements giving Aug 1 pay rises of around 20 per cent
    Reuter  -  192 words
  • Article
    Lock icon AEG unsure of payout
    379 5 EUROPEAN COMPANIES Reuter FRANKFURT, Wed. Allgemetne Elektrlcltaets-Qe-sellschaft Aeg-Telefunken said It cannot say whether It will pay a 19T7 dividend. It last paid a dividend of five marks In 1973. First-half 1977 earnings were, however, better than those a year ago. In a letter to shareholders AEU
    Reuter  -  379 words
  • Article
    Lock icon Deutz raises turnover
    105 5 Reuter COLOGNE, Wed. Kooeckner HumboldtOeutz As said group turnover (excluding tax) rose In first half 1977 to 2.2 billion marks (2.1 billion), including basically unchanged 1.8 billion marks of sales to third parties. Order backlog at endJune was 2.73 billion versus 2.54 billion at endDecember 1976 and
    Reuter  -  105 words
  • Article
    Generale Alimentaire
    50 5 PARIS, Wed. Generale Alimentaire SA, a member of the Generale Occldentale group, made a net profit of 28.9 million francs in the year ended March 31, 1977. This represents an improvement of about 31 Sr cent on the net profit of .1 million francs in the previous year.
    50 words
  • Article
    Lock icon IRI group faces serious finance problems
    252 5 Reuter ROME, Wed. Italy's state-owned IRI group said Its financial situation has brought It to the verge of breakdown. A document sent to the Ministry for State Industry and made public here cites the severe degree of undercapitalisation of IRI subsidiaries, the low level
    Reuter  -  252 words
  • Article
    Plant order
    53 5 ESSEN. Wed Fried Krupp GMBH said Polvslus Corp, US subsidiary of its unit Polyslus Ag in Neubeckum, received an order worth over 50 million marks for main parts of a nickel ore pellet plant from the os i a X lan company i cl 1 Industrlja* Na Nikel,
    53 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      163 5 wmm jl HE THE PROFESSIONALS OUT Of CONTROL Tinker, tailor, soldier, sailor, rich man Doctors, architects, engineers and professors too s NEW DIRECTIONS puts them all under the microscope. ROOU no KNOW ft SMH FROM ft no NEW DIRECTIONS takes an illuminating look at the intricacies of translating Chinese poetry
      163 words
Page thumbnail Page 6
  • Article
    Share Information Service
    2323 6 1977 Hick Low Coupany Last Sale +orGr'• div Div C'tt Gr'» Net y'M P/E V»l Day ('MO) High Low SECTION ONE INDUSTRIALS 154 204 96 230 88* 198* 109 223 398 171 138 172 58 212 57' 155 152 182 350 145 Ac ma Alcom Allied Choc
    2,323 words
  • Article
    Transactions in Singapore
    1533 6 RD and of f* price* ofilddh listed MdiMOM in aad raparMT to the Mock Exchange of Singapore yesterday with Um number of Mm traded thown In bracket* in lota of 1000 unit* unieaa otherwise ipeclfted AO Time Settlement Contract* are quoted after the word "Sett." Bit Board
    1,533 words
  • Article
    In Kuala Lumpur
    1809 6 BID and otter prices officially hated and business in and reported to the Kuala Lumpur Stock Exchfcnte yesterday with the number of shSLrea I****? shown in brackets tn lots of 1.000 units unless otherwise specified INDUSTRIALS Ajinamata (2.028) (8) 202 Alcam <2) 1 93. A. Cfcac (0.958
    1,809 words
  • Article
    Stock options
    55 6 STRIKING price* at the stock option* officially luted oa the Stock Eschaiigr of Singapore, the per M*. hid aM oUrn price* and bii»ln**« done yMterdar. with the nun her of option* traded •hewn in bracket*. INCHCAPE (Dec $2.49) (0.30B). U O B (Sept (3.20) (0.125). (Dec $3.20) (O.ISB
    55 words
  • Article
    Unit trusts
    145 6 INCOME BOND UNIT SINGAPORE UNIT TRUST (CMIII O nam) (Manafari' prioa The Commerce for Aug U) INCOME BOND 1.07 1.13 1.73 1.83 The Saving Fund 1.00 1.06 MARA BUMIPUTRA FUND S pore Prog Fund 0.M Of] (Maaagan' prteai far Ana U) Spore 8ecurlty First Bumlputra 2.20 2.25 Fund
    145 words
  • Article
    GOVERNMENT BONDS
    103 6 5 1/4% 15/7/78 (250.000) (101 455) 4 3/4% 1/5/79 (250.000) (1M.828 1M.905) 5 1/4% 15/10/79 (250,000) (101.MB 102.055) (2) 101.M 5 3/4% 1/6/78-80 250.0 M) (101 708 101 MS) 6 3/4% 15/S/80 (250.000) (104. MB) 6 3/4% 1/12/80 (250,000) (104.70B) "I.MB, ,2M 00< milsl, iv 1 (250 0M
    103 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      176 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 who
      176 words
Page thumbnail Page 7
  • Article, Illustration
    SPOTLIGHT ON TINS
    654 7 TIN SHARES featured bulliahly in a generally easier market on the Stock Exchange of Singapore yesterday. This was a follow-through of the firmness displayed by the tin sector on the Kuala Lumpur Stock Exchange on Tuesday. Trading however, remained confined to selected shares. Gains of up to
    654 words
  • Article
    KLSE SEES GOOD GAINS
    362 7 TIN stocks continued their bullish run in a barely steady market on the Kuala Lumpur Stock Exchange yesterday. Led by Supreme Corporation. which again featured heavy trading, the tin stocks apart from pro-fit-taking activities in some counters were generally sought up to higher levels. Supreme Corp
    362 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Lock icon Hongkong
      473 7 AP HONGKONG: Share prices on the Hongkong Stock Exchange closed generally lower In light trading on Wednesday. The Hang Seng index closed at 424.45, down 1.37 points from Tuesday. The market opened steady but share prices gradually declined during the day. Trading was limited. Brokers attributed this to caution
      AP  -  473 words
    • Article
      Tokyo
      334 7 TOKYO: The market was firmer on Wednesday, with active buying in speculatives, dealers said. The Dow-Jones average gained 26.15 to close at 4,092.79 with volume 430 million shares. The new Index closed at 475 81. up 0.09. Buying interest shifted to low-priced speculatives. Including Nippon Light Metal, from high
      334 words
    • Article
      Sydney
      449 7 SYDNEY: The market was generally firmer on Wednesday with coals very active following Peko Wallsend's counter-bid for Coal and Allied, dealers said. The Sydney All-Ordlnarles rose 0.86 point to 436.03. Coal and Allied closed 60 cents firmer at A 53.85 while Peko lost 10 cents to $5.10. The other
      449 words
    • Article
      Manila
      159 7 MANILA: The market closed generally easier on Wednesday with mines and oils lower and commercials slightly higher, dealers said. PLDT rose one point while other commercials were steady and the turnover rose to 2.90 million pesos from 2.78 million on Tuesday. Atlas and Marinduque both lost one point. Lower
      159 words
    • Article
      Bangkok
      101 7 AUG l« Bahts 47Asia Fibre 106 4j Bangkok Bank W 430 Bangkok Invest. no >12 Bangkok -Metropolitan Bank Bata ***** 605S Berll Jucker 428 +0 Charoong Thai Wire in Dumek Ousit Thani Faber Merlin First Tm»t 188 >25 Indo-Thal Industrial Finance Corp 1205 J And J Ho 279 unch
      101 words
    • Article
      Amsterdam
      326 7 AMSTERDAM: The market closed lower on Tuesday In line with Wall Street. Trading was quiet. Unilever led Dutch Internationals 2.10 guilders lower. Elsewhere. KNSM, Fokker, IHC, Pakhoed and Deli were lower. Trading and Industrial stocks were generally more resistant to the downward trend than other sectors. Heineken rose a
      326 words
    • Article
      Brussels
      164 7 BRUSSELS: The market was quietly mixed in thin trading on Tuesday, dealers said Local Issues to rise Included Asturienne, FN, Gevaert. Teitfnderloo. Tabacofina and Finou (renter. Societe Generate, Cobepa, Union Miniere, Bruxelle* Lambert. Cocke rill. Wagons-Lit* and Sotvay fell. Most foreign stocks were firm. Including German Issues, despite an
      164 words
    • Article
      Frankfurt
      352 7 FRANKFURT: Shares closed weaker on Tuesday In technical reaction to recent gains, bourse sources said. In autos BMW fell sharply to 221 marks ex-rights after closing at 250 marks on Monday (including rights). VW eased 2.30 marks In weaker chemicals Bayer fell 1.50 and Hoechat 1.80 marks. In engineerings
      352 words
    • Article
      Milan
      159 7 MILAN: Stocks moved Irregularly higher In modest trading on Tuesday, encouraged by continued expectations of government moves to reform dividend tax and encourage private Investment In shares, bourse sources said. Fiat, both Pirellis. Montedison and Generale 1 mmobiliare were among leading Industrials to gain. Anic, Assicurasioni Generali also firmed,
      159 words
    • Article
      Paris
      419 7 PARIS: The market was slightly lower on Tuesday following a survey showing retailers are pessimistic about prospects for the next few months, dealers said. Remarks by the French communist leader, apparently indicating dissension in the socia-list-communist alliance is not as deep as recently thought, also depressed shares, they said.
      419 words
    • Article
      Zurich
      268 7 ZURICH: The market was steady In generally light trading on Tuesday apart from selective demand for Swissair bearer. Bally registered and both Oerlikon-Buehrle shares which showed good gains, dealers said Holderbank, Preese-Fiiians and Schindler bearer In financial! were also higher. Insurances were mixed. Leadlnc Industrials closed mainly slightly firmer
      268 words
    • Article
      Jo'burg
      389 7 JOHANNESBURG Gold shares were steady on the stock exchange at the upper levels on Tuesday, supported by higher bullion indications and US buying, dealers said. Heavyweights gained up to 75 cents and lightweights rose by up to 20 cents. Mining flnanclals were mostly harder In line with producers. Elsewhere.
      389 words
    • Article
      Toronto
      325 7 TORONTO: The market closed generally higher In moderate trading on Tuesday. The composite index was up more than a point and advances led declines by 201 to 162 Eight of the 14 subindices were higher. Including real estate (up 10.3 points) and pipelines (7.6 points higher). Moore Corp gained
      325 words
    • Article
      New York
      1173 7 NEW YORK: The stock market recouped some of Monday's losses In the morning but failed to hold on to its fains in the final hour, as prices enaeo with only fractional changes In moderate trading on Tuesday The morning advance, which peaked around midday, was dubbed as a
      1,173 words
    • Article
      Indices
      71 7 FINANCIAL TIMES INDUSTRIALS Tuesday 481.8 Monday 481.6 Week Ago 4519 DOW JONES AVERAGE INDUSTRIALS Tuesday 879.42 Monday 879 42 Week Abo 887 39 LONDON DOLLAR PREMIUM Tuesday 103'i to 104 Monday 105 5 n to 105 7 H.K. HANG SENG Tuesday 425 82 Monday 421.43 Week Ago 416 02
      71 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      495 7 BUSINESS TIMES Airline Directory Atrtflot Soviet Airline* 110-112 Shaw Centra, Orchard Road, Singapore 9 (Tel: 377.111) Air Ceylon 302-1, 3rd Floor, Marina Home S hen ton Way, Singapore (1) (Tel: 221 93*0) Ground. Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shanton Way, Singepere 1
      495 words
Page thumbnail Page 8
  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      547 8 ON the Singapore rubber market yesterday, rubber E rices opened 0.50 cent igher following steadier London advices and rose further on some speculative buying and forward inquiries. September RSS One buyers were traded to a high of 195.50 cents but eased fractionally on profittaking towards
      547 words
    • Article
      Closing prices
      31 8 Rubber: August 10 Singapore: September 196.00 cents i (up 2.25 cents) Malaysia: September 197.00 cents (up 2.25 cents) Tin: $1,650 (up $5) Official offering: 208 tonnes (up one tonnes)
      31 words
    • Article
      R.A.S. PRICES
      325 8 Prices in cents per kilo yesterday: N< »n Cloee (per kiU> (POT kilo) Buyer* Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 191.50 192.50N 192.50 193.50N Int. 1 R.S.S. Semptember 195 25 195.50 196.00 196.50 Int. 1 R.S.S. October 197.25 197.50 198.00 196.50 Int. 2 R.S.S. 191 00
      325 words
    • Article
      SSR AND SMR
      107 8 NOON SSR and SMR prices yesterday s ?pu?mt>er Oi R.A.S. I Cur re nt Mtk) (Forward Mth) Buyers Sellers Buy en i Sellers (cents perk() (oeal Is^erkc) SSR 20 (1 ton pallet) 193.50 195.50N 194.50 196.SON S8R50 (1 ton pallet) 191.00 193 00N 192.00 194.OON M R
      107 words
    • Article
      Duty rates
      63 8 THE Malaysian Minister of Finance has fixed these rates for the period from Aug 11 until further notice: Rubber: 87% cents a pound pound Copra: $798.00 a ton Palm Kernel: $235.25 a ton The rates of duties payable are: Rubber: 9% cents a pound Total 14% cents Surcharge
      63 words
    • Article
      Produce exchange
      511 8 COMMODITIES finished generally mixed on the Singapore produce market yesterday. Trading remained minimal In most sectors of the market and confined to local squar-rlng-up account. Copra and coconut oil eased in very light trading following the withdrawal of buyers and the continued lack of overseas following. The two
      511 words
    • Article
      Coffee
      308 8 LONDON, Wed. Coffee futures moved ahead In early trading to end the opening call £155 to £40 up from yesterday. 452 lots were traded and the tone was steady. September gained £155 at a mid price of £2,680 while November rose £127. Dealers said the market's rise partly reflected
      308 words
    • Article
      Rice
      219 8 BANGKOK, Wed. Indicative prices quoted here were: (US dollars per tonne fob basis Bangkok) Whit* Rice: 100 per cent Ist class 308. 100 per cent 2nd 292. 100 per cent 3rd 288. 5 per cent 277. 10 per cent 253. 15 per cent 250. 20 per cent 247. 25
      219 words
    • Article
      Palm oil
      73 8 C.I.F. Rotterdam. US dollars per ton. LONDON: Malaysia 5* ffa bulk: Sept Sumatra 5* Aug Sept Oct No* Dec Nigerian 5% ffa bulk (Sterling per long ton) ROTTERDAM: Sumatra: Sept. Zaire (Belg franc* per kilo) 913 air 542.50 sir 502.90. 905 pd 470. 480 pd 485, 470 pd
      73 words
    • Article
      Straits tin market
      227 8 THE Straits tin price in Penang yesterday was up Mss to $1,650 on an official offering up one tonne to 208 tonnes. in LONDON yesterday, tin rose by around £42 for cash and £25 for Three Months standard. Cathodes were up by £27 and £32 respectively. The
      227 words
    • Article
      Sugar
      218 8 LONDON, Wed. Terminal opened £1.40 to £0.70 per tonne below yesterday afternoon's close. Sales totalled 286 lots. Trade and local selling Initially depressed values but mixed buying and shortcoverlng held prices steady at the lower levels. Dealers said an easier tendency had generally been expected in front of today's
      218 words
    • Article
      Cocoa
      272 8 LONDON, Wed. Terminal cocoa finished a thinly traded although fairly lengthy opening call mostly £9 up from last night (March at £2,286.50) to £17.50 per tonne lower. Near July was down by an exceptional £20 this decline was more of a correction to out-of-llne overnight differentials, dealers said. Price
      272 words
    • Article
      Hongkong comex
      85 8 HONGKONG, Wed. The cotton futures market closed higher in quiet trading and ended at the day's highs. In line with the overnight trend in New York, dealers said. December and March were the only two months traded, closing 0.30 and 0.80 cents higher, they said. Hongkong cotton future*
      85 words
    • Article
      SPOT PRICES
      202 8 YARN and cotton spot ex-codown prices In HK dollars CMm Yam: China Blue Phoenix 20 1.900. 32 s 2 085. 40 s MOO (per tale of 400 Ita). rnct (ioods: t ntna Butterfly and Olobe Brand unq Dragon Head unq Five Lamb* unq, Flower and Butterfly unq. Flying
      202 words
    • Article
      Soybeans
      138 8 CHICAGO, Wed. Soybean futures ended a relatively light trade yesterday with the August up 12 H cents a bushel and new crop months up two to five cents. Trading Interest was limited ahead of the USDA crop report on Thursday. Prices of most contracts moved within only a 10
      138 words
    • Article
      Wheat
      94 8 CHICAGO, Wed. Wheat futures closed yesterday on an easy note, posting losses of one to Vfc cent a bushel and finishing at or Just above the lows of a narrow trading range. Trading was light and mixed throughout the session. Prices fluctuated narrowly and derived thin support from the
      94 words
    • Article
      Copper
      321 8 LONDON, Wed. Copper wire bars finished the morning with losses of mostly £3.50 per tonne. The steady New York close gave values initial support on the premarket at £695 per tonne for Three Months, dealers said. The market subsequently worked erratically lower under renewed hedge selling although buying resistance
      321 words
    • Article
      Lead
      44 8 LONDON, Wed. Lead prices closed steady yesterday with cash £0.25 up and Three Months £0.75 higher. Market steadiness was due to further lnfluen- tlal covering and some fresh buying which took Three Months up to £326 per tonne on sales of 2,550 tonnes.
      44 words
    • Article
      Silver
      203 8 LONDON, Wed. Sliver closed yesterday with gains of 2.5 to 2.4 pence per troy ounce. The market scored further gains on light fresh buying and covering which lifted Three Months to 268.9 pence, although sales were thin at 34 lots. In NEW YORK on Tuesday, comex silver prices eased
      203 words
    • Article
      Gold
      347 8 ON the Singapore market, the kllobar opened at S$ 11,515 and traded to a high of 5511,543 before easing to close at SSI 1,536. In the London market, the metal opened at U*****.40/70 and closed at U*****.70/90. The London morning fix was U*****.85, down 65 cents on the previous
      347 words
    • Article
      Zinc
      83 8 LONDON, Wed. Zinc eased by £2 per tonne all round. The market continued featureless with light hedge selling, prompted by the trend in copper, easing the Three Months position to £308 in the ring and to £307.50 on the kerb. Sales of 2,750 tonnes were mainly carries. On Tuesday,
      83 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      555 8 SINOAPORE's local money market held on to high Interest rate levels yesterday, especially In overnight money. Opening at the V/» per :ent level, overnight funds ivere quickly traded right up to nine per cent just before bearing hours. Post-clearing hours, however, saw the rates slipping back to six per
      555 words
    • Article
      Minimum lending rates
      47 8 ACBC 6 1 H AlfeiMM Bank CS Citibank #*4 Bangkok Bank 7 HSBT Ik •H Bank at China 7 SH Bank of Tokyo «H Bank Nocara OCBC Indonesia 7 OUB Chartered Bank 6 l < UCB 7 Chaac Manhattan «H L'MBC 7 DBS DOB ft
      47 words
    • Article
      Asian $ rates
      147 8 Asian rates ASIAN currency deposit interbank rate* u at close on Aug 10. U8Dsllan(8»at) Offer BU 7 days 5* 1 mth 3* SH 2 mths 6* 3 mth* 6* 6* 6 mth* 6 9/16 8 7/16 9 mth* 611/16 69/16 12 mths 6% IS Sw. fr». Daa. 1 mth 3
      147 words
    • Article
      Discount
      44 8 RANOE of prices offered by discount houses on Auc 10: Overnlfht l\ 3 Call deposit 3% CWs( Bay 8* lilac 3-Month Treasury 3 2 7/8 3-Month Bank Mils 4 3/4 41/16 3-MonthsCD 413/16 411/16 6-MontiuCD 413/16 4 13/16 Source: National Discount Co. Ltd.
      44 words
    • Article
      Hongkong
      57 8 HONGKONG banknote rates quoted on Aug 10: US 4.63 4 65 UK S.lO 125 Burma l 00 1 SO India 4.60 4 *0 Indonesia 110 I.U Japan 1.74 1.15 Korea 0.92 0 95 Philippines 0 59 0.62 Singapore 1.885 1.906 .•••unyna 1 875 1 895 Brunei 187 l 89
      57 words
    • Article
      Zurich
      69 8 ZURICH exchanges closing quotes on Aug 9: U8 2 4077 4067 UK 4.1645 1170 Can 2.2370 2300 W Ocrtn 104 24 >4 Neth 96 60 70 Prance 49 23 26 Be If 6 79* 80 Denm 40 09 12 Norw 45 68 71 8 wed 54 96 55 00
      69 words
    • Article
      Australia/NZ
      57 8 AUSTRALIA/NZ exchanges on Aug 10: Australia: Sterling 0 6366/6 6319 US dollar 1.1670/1 1022 Ninety-day air mall buying rate*: Sterling 0 6566 US dollar 1 1323 Ninety-day forward buying rate*: Sterling 0.6368 ITS dollar 1.0879 New Zealand Sterling 0 5566/0 5555 US dollar 0 9757/0 9657 Ninety-day forward rates:
      57 words
    • Article
      New York
      170 8 NEW YORK, Wed. The dollar rallied from depressed mid-session levels here following Indications the Federal Reserve has tightened monetary policy, dealers said. Eurodollar rates Jumped l/Bth of a point in the afternoon here after New York Federal Reserve Bank twice made reverse repurchase agreements with federal funds at
      170 words
    • Article
      London
      271 8 LONDON, Wed. The dollar strengthened to 2.3155/ 65 marks in early trading from Initial Indications at 2.3115/ 25. A firmer trend In federal fund rates buoyed the US unit and some apprehension over the German economy following the federal government's request to regional governments for help to support growth
      271 words
    • Article
      Euro $ rates
      249 8 Euro rates LONDON, Wed. Period Eurodollar deposit rates were generally firm and fairly active despite the Friday dealing technicality, dealers said. Near period rates were around 1/16 above their normally lower Friday dealing levels with longer positions which are unaffected by the Friday starting around 1/16 firmer than last night's
      249 words
    • Article
      Frankfurt
      38 8 FRANKFURT exchanges opening quotes on Aug 10: US 2.3115/25 Can 2.1500/20 UK 4 028/038 Neth 94 75/85 SwlU 96 00/10 Italy 2 626/36 France 47 30/40 Norw 43.90/44 00 Belg (com) 6.521/31 Belf (fin) 6.50/52 Japan 0.8700/15
      38 words
    • Article
      Treasury bills
      38 8 THE Monetary Authority of Singapore Invites banks and discount houses to tender a total of $20 million 91-day Treasury bills to be issued from Aug 15 to 19. Each tender must not be less than $250,000.
      38 words
    • Article
      Tokyo
      96 8 TOKYO, Wed. The US dollar for overnight delivery closed higher at 265.98 yen after a 265.75 opening, and compared with 265.90 at yesterday's close. Trading was quiet but limited buying by Japanese banks to cover import settlement needs pushed the US currency higher, dealers said. The dollar for immediate
      96 words
    • Article
      Eurobonds
      282 8 EUROBONDS opening quotes In London on Aug 10: Straight* Bid Offer Austria 8*. 90 101* 102* Bell Canada 8* 86 10S 105* BFCE8*83 102 102* Brazil 9V. 84 99 99* Can Pacific 9*83 101* 102* Credit National 8 *86 99* 100* EC8C9 83 103* 104* EEC 8* 82 102
      282 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      169 8 1 r MONTHLY ECONOMIC REPORTS With monthly political lupplinwnt for UP-TO-DATE HANDY REFERENCE s ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia. The
      169 words
Page thumbnail Page 9
  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Agreement on payments reached at Panama talks
      394 9 UPI PANAMA CITY, Wed. US and Panamanian negotiators have reached agreement on the financial aspects of a new treaty for the Panama Canal, Panamanian sources said yesterday., indicating the future of the strategic waterway will be decided by the end of this week.
      UPI  -  394 words
    • Article
      Lock icon Strikers ordered back to work
      198 9 Reuter OTTAWA, Wed. The Canadian House of Commons today ordered an immediate return to work by 2,200 air traffic controllers whose strike has crippled the country's air services since Sunday. An emergency bill passed by the Commons must also be approved by the Senate but
      Reuter  -  198 words
    • Article
      Lock icon UK air freight rule changes proposed
      257 9 FT LONDON, Wed. Far reaching changes In the regulation of the UK's scheduled and charter cargo air services are proposed by the Civil Aviation Authority in a report Issued yesterday. The most significant alterations suggested include the introduction of a new single general cargo
      FT  -  257 words
    • Article
      Lock icon US-Taiwan rates rise
      71 9 Reuter TAIPEH, Wed. The sea freight rates between Taiwan and the US east and west coasts will rise by between 9.4 and 12.5 per cent from September 1, the Central News Agency reported. A spokesman for the Taiwan Shippers' Council, quoted by the agency, said the new
      Reuter  -  71 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      233 9 UPI LONDON, Wed. Generally slow conditions returned to a freight market which last week had shown signs of revival, albeit only In terms of trading volume. However, dull fixing appeared to have no effect on the rate structure. The payment of U554.25 (FIO) for a 56,000-ton US
      UPI  -  233 words
    • Article
      Jurong Shipyard's strength lies in its workers
      509 9 JURONQ Shipyard management announced yesterday that they were now confident of weathering the storm buffeting the shipbuilding and shlprepalring Industry. Mr. Low Ouan Onn, joint managing director of the company, said that their confidence was baaed purely on the fact that workers were
      509 words
    • Article
      Lock icon Baltic Exchange—a bastion of tradition
      938 9  -  MOST SECRETIVE MARKET PLACE By ROBERT HERSHEY JR NYT LONDON, Wed. The first hints of the huge purchases by the Russians In their 1972 grain-buying coup came not from the boisterous Chicago futures pits but from a relatively obscure exchange here that provides no public
      NYT  -  938 words
    • Article, Illustration
      IN PORT
      399 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge Brunei 61 (0600 alongside Trinidad) 31/32 Barge Hong Klat IV (1100 alongside Trinidad) 31/32 Boris Oorbatov (after Straat Luzon) 18 Chrlstaln Maersk (after Hoegh Orris) 1/2 Oolden Fortune (0600 after/ Catamarca II) 42/43 Liu Jiang (BOKY) (after Sumbawa) 3/4 Nusantara 111 (0700)
      399 words
    • Article
      Lock icon Tests resume at Narita
      272 9 UPI TOKYO, Wed. A Boeing 747 Jumbo Jet resumed takeoff and landing tests at Tokyo's embattled new International airport today, while demonstrators burned tires, sent up balloons, and hurled homemade fire bombs. The new airport at Narita, 04 km north of Tokyo, was guarded by 2,500
      UPI  -  272 words
    • Article
      Oriental Line
      145 9 ORIENTAL Line is Incorporated In Tokyo. Linking the Far East with Southeast Asian ports, It provides six sailings a month In Its jenlee. Trador Far East/ Southeast Asia. Porta of call: Southbound Japan, Hongkong. Singapore, Port Keiang and Penang. Northbound Indonesia and East Malaysia. Frogwoj of rino: six
      145 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      574 9 ARRIVALS 8vHM Lwml Opmfe CPA MAS CPA OIA CX003 MH682 CX710 QA960 0145 0010 1000 1030 ma HKO KCH HLP HLP SIA OIA OIA PAL 8Q211 OA944 QA906 PR501 1045 1066 1100 1115 HLP PKU MES MNL RBA SIA MAS BI32S 8Q240 MH684 1155 1210 1240 BWN
      574 words
    • Article
      Lock icon Routes over Red Indochina
      123 9 Reuter MANILA, Wed. Air routes over Laos. Cambodia and Vietnam, restricted since the end of the Indochina war In 1975, may soon be reopened to International traffic, according to Mr. Assad Kotalte, the Lebanese president of the International Civil Aviation i Organisation (ICAO). During a brief
      Reuter  -  123 words
  • Page 9 Advertisements
Page thumbnail Page 10
  • Article, Illustration
    Lock icon It's do or die for Maltese trade unions
    927 10  -  Malta's trade union* notable in the past for their moderation and patience towards the Don* Mintoff regime have at last been roused to bare their teeth. It has yet to be seen whether they can bite before all of their teeth are
    FT  -  927 words
  • Article, Illustration
    Lock icon Hussein's silver jubilee: A celebration of survival
    1559 10  -  By DAVID PEARCE UPI AMMAN, (Jordan): On the whole, It has been an Inhospitable 25 years for King Hussein Bin Talal, 41, and his diminutive desert kingdom. On August 11, he celebrates his silver Jubilee and this capital Is awash with royal bunting,
    UPI  -  1,559 words
  • Article
    Lock icon Big Oil is good for you
    845 10  -  By DAVID BELL The US oil giants, which fact an ever growing barrage of public and governmental criticism over their power and their profits, are launching TV commercials in a bid to salvage their good name. They argue that "Big Oil" like Guinness is
    FT  -  845 words
  • Article, Illustration
    Lock icon Arabs' silent invasion of London
    865 10  -  By MICHAEL DAVIE OFNS LONDON: The decline of British power and Influence In the world has produced some odd reversals: none more so than the current Invasion of London by Arabs. The Idea was supposed to be that the British went to West Asia and
    OFNS  -  865 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      55 10 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search tor his roots in Africa. ROOTS has sold over 1% million hardback copies since its publication and it is continuing to top the bestseller lists even now
      55 words
Page thumbnail Page 11
  • Article, Illustration
    Lock icon Japan offers Malaysia a $195m loan
    322 11 AFP KUALA LUMPUR, Wed. Japanese Prime Minister Takeo Fukuda today extended a 21-btllion yen (SSI9S million) credit to Malaysia. The soft loan, which Is the fourth Japanese yen credit to this country, was announced at the end of a two-hour talk between Mr. Fukuda
    AFP  -  322 words
  • Article
    Lock icon Manila livestock situation not too promising
    291 11 AP WASHINGTON, Wed. The current livestock situation in the Philippines Is not particularly promising although cattle numbers and meat nroductlon may go up slightly In 1977, according to .the US Agriculture Department. Foreign Agriculture, a weekly publication of the department's Foreign Agricultural Service, says
    AP  -  291 words
  • Article
    Lock icon The verve of Tokyo's steel industry
    159 11 AFP LONDON, Wed. The influential Metal Bulletin yesterday came to the defence of Japan's steel industry whose success, it claims, is due above all to the "remarkable verve" taken by Japanese manufacturers since the war. The paper writes: "In these trying times of deep
    AFP  -  159 words
  • Article
    Need for grants
    117 11 PARLIAMENTARY Secretary to the Ministry of Education, Mr. Ahmad Mattar, yesterday urged the Rotary Club and other service organisations to offer scholarships and bursaries for vocational training. Mr. Mattar, who Is also chairman of the Industrial Training Board, said: "The majority of organisations wishing to award bursaries
    117 words
  • Article
    Lock icon Bid for gold licence
    79 11 Reuter BANGKOK, Wed. The Thai Finance Ministry said it received two bids 01 2.31 million and 2.18 million baht for the right to Import 480,000 ounces of gold bullion over the next two years. After approval of one of the bids by the ministry the licensed
    Reuter  -  79 words
  • Article
    Lock icon KL's first quarter progress 'fair'
    546 11 Reuter KUALA LUMPUR. Wed. Malaysia's economic performance was generally satisfactory In the first quarter of this year compared with the last quarter of 1970, although the performance of Individual sectors was mixed, Bank Negara Malaysia said In Its quarterly economic bulletin. Output In the construction
    Reuter  -  546 words
  • Article
    Have bosses risen to the occasion, MP asks
    243 11 A MEMBER of Parliament said here yesterday that while workers had responded to the call of national interest, he was not so sure the same could be said for management. Mr. Chin Harn Tong, the MP for Aljunled, who is also the
    243 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      37 11 CORPORATE ANNOUNCEMENTS CARRY MORE WEIGHT IN BUSINESS TIMES 66 CttUIUUMLMm A&MSvr*. V 99 srtisg, MC 22£Tsf me ■"Mwnu KUUO K% ss 3 <*«?£** /u to-dite company reports, •lock market newt. V 1 V>^ v\ 1 <> '•J **r« r
      37 words
Page thumbnail Page 12
  • Article
    Property market is still mired
    151 12 THE current slump in the prnpsrty market is expected to wersen, according to an auctioneer/valuer firm. The present situation is one of complete loes of confidence in llie property market, said Mr. Chua Chye Seng, manadni director of Cheong Kooft Seng (CKS), a auctioneer/valuer firm.
    151 words
  • Article
    Dangers that we have to face
    187 12 ALTHOUGH the worst of the oil crisis is now past, Singapore will have to put up with reduced exports, less new Investments, fewer jobs and slower growth In income. This picture was painted yesterday by Mr. Goh Chok Tong, Member of Parliament for Marine
    187 words
  • Article, Illustration
    Bank Negara gives the go-ahead for more liberal credit
    961 12 KUALA LUMPUR. Wed. Commercial banks have been told by Bank Negara that they can liberalise lending for the purchase of shares provided it is for Investment and not speculative purposes. They may also lend more freely to non-resident controlled companies as
    961 words
  • Article
    Joint ventures have their place in S'pore
    404 12 JOINT venture operations between foreign and local companies have a significant and necessary role to •play In the further industrialisation of Singapore, said Mr. Sia Kah Hui, the Minister of State for Labour. At the official opening of MK Electric's $1 million facility
    404 words
  • Article
    EEC capacitor duties likely to hit E. Hopt
    293 12 E. HOPT Singapore, which produces variable electronic capacitors mainly for export to Its home office In West Germany, is likely to be hit by import duties imposed recently by the European Economic Community on Singapore capacitors. The EEC acted after Singapore exceeded
    293 words
  • Article
    INCOME introduces two new policies
    139 12 TWO new general Insurance policies are being Introduced by INCOME, the NTUC's insurance co- operative. The policies are the private Insurance policy and the family personal accident Insurance policy. The first will cover both the building and the contents of a private house or flat
    139 words
  • Article
    Petition move shelved
    88 12 A HIGH Court petition for an order to wind up Crescent Impex Pte. Ltd. by a merchant, Mr. Ho Fook Kee, has been "abandoned". The court, it is understood, granted a consent order for 50,000 $1 shares of the company, owned by Mr. Ho, to be sold
    88 words
  • Article
    Chinese Chamber to clarify with govt
    279 12 THE Chinese Chamber of Commerce arid Industry will ask the government to define the areas of Involvement for both the private and public sectors in business and Industrial activity here. This request Is contained in a memorandum which the chamber plans to submit to
    279 words
  • Article
    No reply yet to pawnbrokers' appeal
    194 12 THE Singapore Pawnbrokers' Association Is still waiting for a reply to Its appeal to the Prime Minister, Mr. Lee Kuan Yew, to allow the pawnbrokers to put forward their views on the Pawnbrokers (Amendment) Bill, which was passed at the June sitting of the
    194 words
  • Article
    Lock icon CAPITAL MART
    77 12 AFP JAKARTA. Wed. The long-awaited Indonesian capital market opened its doors here today by selling 312 out of the 150,000 share* made available by a joint venture company. The sharee were sold at It,ooo ruoiaha (8157.80) each. the Cibinong" Cement Company, a joint venture between American Gypsum Carrier
    AFP  -  77 words
  • Article
    LONDON STOCKS
    745 12 LONDON. Wed Light profittaking made for a mixed tendency but the undertone was firm, dealers said. Initially the market firmed after the July UK bankfhg statistics Indicated money supply growth was on target At 3 pm the Financial Times Index was down 2.1 at 470.7. Government bonds were
    745 words
  • Article
    Republic 'highly thought of' by UK traders
    381 12 LONDON, Wed: British companies and Industries are stepping up their export drive to the Southeast Asian region, particularly Singapore, which is "highly thought of" by British businessmen. This trend can be discerned by the number of British trade missions visiting Asean countries this
    381 words
  • Article
    Lock icon Dearer Fiats
    46 12 AO lIIVI VUU Reuter. rURIN, Wed. Flat said it is raising by an average 2.8 per cent prices of the various models of Its 127 car from today. The 127 was not affected by price Increases on other models introduced on June 15. Reuter.
    AO lIIVI VUU Reuter.  -  46 words
  • Page 12 Advertisements
    • Advertisement
      Page 12 Advertisements Column 1
      87 12 N I r cv > The 565 is the smaflest io the gent s oirstyle range Smol enough to cony as hood luggage. No time wotting at airport checkout. Saves you time at the airport Big enough to fit your jodtet/ suit. 3 pain of shirts and pants and other
      87 words
    • Advertisement
      Page 12 Advertisements Column 2
      105 12 h S t *i l m p s> r HI As >4 /rHave you got your copy of the lsflbm BUKU MERAH? 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
      105 words