The Business Times, 18 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, AUGUST 18, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Fukuda Doctrine
      66 1 UPI MANILA, Wed. Japanese Prime Minister Takeo Fukuda today outlined a new policy, billed as the "Fukuda Doctrine," advocating world trade liberalisation and disclaiming that Japan aspires to becoming a military power. The Japanese leader disclosed his new policy In talks lasting \V» hours with President Marcos several
      UPI  -  66 words
    • Article
      Lock icon Concorde order
      72 1 AP NEW YORK, Wed. The Port Authority of New York and New Jersey was ordered today by a federal judge to allow the supersonic Concorde jet to land at Kennedy Airport under noise rules now in effect for all other Jets. Pollack said the Port Authority's 17-month delay
      AP  -  72 words
    • Article
      End of the road
      24 1 WOLFSBURG (West Germany), Wed. The Volkswagen Company announced it will halt production in Germany next year of Its 'Beetle' sedan.
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    • Article
      Lock icon Seoul's aid plan
      73 1 UPI SEOUL, Wed. The South Korean government is pushing for enactment of a law setting up funds to finance the supply of capital goods or services to less developed countries on a longterm, low-interest basis. The newspaper, Korea Herald, quoted government sources as saying the government plans
      UPI  -  73 words
    • Article
      Lock icon Rio Tinto blocked
      58 1 AP CANBERRA, Wed. Australia's Treasurer Phillip Lynch today barred for 90 days the attempt by Conzinc Rio Tinto of Australia (CRA) to take over the New South Wales mining company, Coal and Allied Industries Ltd. Mr. Lynch did this on the grounds that CRA is controlled by
      AP  -  58 words
    • Article
      Lock icon Food aid fiddle
      63 1 Reuter LONDON. Wed. Oxfam, the famine relief agency, alleged that half of the food aid sent to drought-stricken northern Ghana was not being properly distributed. The overseas director of Oxfam said that much of the food was going to "government people, people who have some influence and
      Reuter  -  63 words
    • Article
      Lock icon Dow Jones
      67 1 UPI NEW YORK, Wed. Stocks were lower early today amid Investor concerns about rising Interest rates. The Dow Jones Industrial average, which fell 4.85 points yesterday to a 19-month low, was off 2.42 points to 866.86 shortly before the first hour of trading. Declines outnumbered advances, 474 to
      UPI  -  67 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      185 1 AN IRREGULAR pattern of trading prevailed again on the Stock Exchange of Singapore yesterday. The market opened on a very quiet note with a steady undertone but softened in the afternoon under scattered bouts of profit-taking and stale bull liquidation. At the close, the Business Times index
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    • Article
      In Kuala Lumpur
      121 1 Rises Most active Sng Resins 1.17 .22 M. Weaving 630,000 Tasek 2 28 +.18 Pac Dev 178,000 Dutch Baby 1.39 .13 Olympla 163,000 M Weaving 1.36 .12 M. Credit 154,000 Sim Llm 1.06 .10W NOTE: Due to a power failure T'ganu Dev 1.25 .10 at the KLSE,
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  • Article
    Jobs for all over the next 10 years
    1191 1  -  BRAVE EMPLOYMENT ESTIMATE BY JOHN TAN SINGAPORE should not experience any unemployment at all for the next 10 years since the economy Is expected to grow six to eight per cent annually, which will be enough to provide Jobs for all new
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  • Article
    Textile and garment trade short-handed
    235 1 SINGAPORE'S garment and textile Industry face acute problems of labour shortage and labour turnover, according to the latest issue of Minlmax, a National Productivity Board publication. It said: "The labour mobility problem Is due mainly to the substantially lower basic salaries during the one to
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  • Article
    Wide-ranging reactions to the forecast
    820 1 INDUSTRIALISTS, educationalists, professionals and foreign investors alike have greeted the publication of a Joint study on employment prospects in Singapore in the years 1977 to 1986 with a great deal of curiosity. Most would like to know the basis on which the conclusions reached by
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  • Article
    Lock icon Hard for Asean to step up exports to Australia
    309 1 Reuter CANBERRA, Wed. Prime Minister Malcolm Fraser warned here today that imports from Asia were unlikely to grow as fast in the near future as they had done over the past five years. Mr. Fraser said imports from Asean were unlikely
    Reuter  -  309 words
  • Article
    M. Credit tells why profits disappeared last year
    480 1 MALAYAN Credit yesterday revealed how practically everything it touched in the last year had turned sour. In a letter to the Stock Exchange of Singapore, It detailed the sharp and sudden downturns which each and every of its major subsidiaries took in
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  • Article
    Mission to work out training centre details
    132 1 A JAPANESE mission Is due In Singapore In October to work out the details of the proposed Singapore-Ja-panese Training Centre which is expected to take In Its first batch of students late next year. The mission will study the cost of the machinery
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      Page 1 Advertisements Column 1
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      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
      71 1 BANK VAULT SAFE DEPOSTT Singapore to Ihipei via Hong Kong Flight hostess Helen Chiu. 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 your travel agent,or Oathay Pacific Hong Kongt discovery airline at *****1. CATHAY
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  • OVERSEAS
    • Article
      Lock icon Nuclear energy much safer than you think
      494 2 OFNS GENEVA, Wed. Nuclear energy represents a smaller safety risk than many alternatives accepted in modern societies, according to an International Economic Energy Agency report submitted to the United Nations Economic and Social Council here. The report concludes that nuclear energy is a
      OFNS  -  494 words
    • Article
      Lock icon Competence of Biotest lab under a cloud
      339 2 Washington Star WASHINGTON, Wed. One of the nation's largest commercial laboratories which tests the safety of new medicines and pesticides, already in trouble with the Food and Drug Administration (FDA), has had its competence questioned by the Environmental Protection Agency (EPA). The EPA
      Washington Star  -  339 words
    • Article
      Lock icon No response
      60 2 Reuter LONDON, Wed. For the past year the British Government has offered cash grants to companies to enable ordinary workers to accompany export salesmen on foreign trips. Today It announced the response nil. "It Is very surprising. The best we have had Is a single enquiry and that
      Reuter  -  60 words
    • Article
      Lock icon Cabinet panel considers quit ILO decision
      139 2 Reuter WASHINGTON, Wed. A Cabinet-level committee met yesterday to consider whether the United States should ceaflrm or cancel its decision to lesve the Internntionnl Labour Organisation (ILO) in November. The United States gnve two years' notice in 1975 thnt it intended to terminnte its
      Reuter  -  139 words
    • Article
      Lock icon Changes in drug formulae
      104 2 AP BASLE, Wed. Two leading Swiss drug companies said yesterday they are changing formulations of widely-used painkillers to eliminate Amlnophenazone, an analgetic linked by recent tests to a cancercausing agent. Sandoz of Basle said the changeover Involves optalldon, one of Its top money makers, and Tonopan,
      AP  -  104 words
    • Article
      Lock icon Soyabean meal consumption may be boosted
      599 2 Reuter LONDON, Wed. Forecasts of larger soyabean crops this year and lower soyameal prices may lead to a resurgence In soyabean meal consumption in Western Europe In 1977/78, Hamburg-based Oil World weekly said. Harvest conditions are favourable for orderly operation of the expected large
      Reuter  -  599 words
    • Article
      Lock icon $122m to develop inedible food
      144 2 Reuter WASHINGTON, Wed. The US army has spent more than US$5O million (***** million) over the past 25 years In trying to sterilise rood by Irradiation and has succeeded only in making it inedible, a Congressman said yesterday. Mr. Thomas Downey of New York said
      Reuter  -  144 words
    • Article
      Lock icon Still no FT
      52 2 Reuter LONDON. Wed. The Financial Times newspaper did not appear today for the 11th day running, a management spokesman said. The business daily has been closed by a dispute which followed a decision by the management to stop 57 compositors taking night off when they were being
      Reuter  -  52 words
    • Article
      Lock icon Top brass of SEC looks into N. York crisis report
      492 2 NYT WASHINGTON, Wed. Ranking officials of the Securities and Exchange Commission's enforcement staff are personally directing an intensive effort to salvage what regulatory sources close to the Investigation describe as an lnadeSuate report on New York Ity's financial crisis. Because
      NYT  -  492 words
    • Article
      Lock icon Self-policing bid by accounting industry
      712 2 NYT NEW YORK, Wed. The accounting Industry, which has been squirming In the glare of some hostile attention from Congress recently, Is quietly taking some steps to police itself. But there are Indication that the proposals, which call for such things as periodic peer reviews
      NYT  -  712 words
    • Article
      Lock icon Studies to steady copper
      110 2 Reuter GENEVA, Wed. Government experts from some 50 countries began a four-day meeting to prepare feasibility studies or the costs, benefits and financial Implications of possible schemes to stabilise the world copper market. The aim of the studies, expected to last several months, Is to ascertain
      Reuter  -  110 words
    • Article
      Lock icon Energy bill will do more harm than good
      338 3 UPI WASHINGTON, Wed. The oil* Industry criticised the energy bill yesterday, saying its new taxes and other provisions would boost the price of petrol to US$l (552.44) per four litres and do the nation "more harm than good." Charies Dlbona, executive vice
      UPI  -  338 words
    • Article
      Lock icon US won't have enough coal to meet demand
      483 3 AP LOUISVILLE. (Kentucky) Wed. United States' coal production this year will fall 33 million tonnes short of foreign and domestic demand because of a twomonth wildcat strike by miners in the Appalachian Mountain region, Industry officials said yesterday. The difference can be
      AP  -  483 words
    • Article
      Lock icon BANK SEES NO SHIFT IN LOAN DEMAND
      134 3 Reuter NEW YORK, Wed. Manufacturers Hanover Corp said in a report to shareholders that despite continued lag In bank loan demand and expanded usage of commercial paper, It sees no structural change in demand for bank borrowing by large corporations. The bank said
      Reuter  -  134 words
    • Article
      Lock icon Growth in third quarter lower?
      295 3 Reuter WASHINGTON, Wed. The growth rate for US real gross national product In the current quarter will be significantly below the second quarter unless consumer or government spending Increases, the Commerce Department said In Its monthly survey of current business. The department specified no figure.
      Reuter  -  295 words
    • Article
      Lock icon Gold delivery in NY
      94 3 Reuter WASHINGTON, Wed. The International Monetary Fund said gold to be sold at its Sept 7 auction will be delivered In New York. This is a return to its usual prodecure after delivering gold sold at the last auction in London. As announced previously, the IMF
      Reuter  -  94 words
    • Article
      Reserves fall
      30 3 ZURICH, Wed. Switzerland's foreign exchange reserves fell by 815 million francs (*****.5 million) to 12.07 billion francs in the week to Aug 15, the Swiss National Bank said.
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    • Article
      Lock icon Norway must face up to restraints
      232 3 Reuter OSLO. Wed. Norway faces a policy of restraint In the country's next budget scheduled for around Oct 10, Finance Minister Per Kleppe said. He denied In a statement to the Norwegian news agency press reports that the present standard of living will be
      Reuter  -  232 words
    • Article
      Lock icon Bill auction
      36 3 Reuter WASHINGTON, Wed. The Treasury said It will pay down Its debt by (US$4 million (859.70 million) at Monday's weekly bill auction by selling 92.3 billion of three-month and $3.4 billion of six-month bills.
      Reuter  -  36 words
    • Article
      Need for a UAE central bank
      849 3 AFTER five years of heady expansion that has seen the United Arab Emirates grow into the most overbanked country in the world (one bank or bank branch for every 2,000 inhabitants), progress has been checked. The immediate cause of the slowdown in banking development
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    • Article
      Lock icon Oil spill floods Alaskan pipeline pump station
      290 3 UPI FAIRBANKS (Alaska), Wed. An oil spill flooded an Alaska pipeline pumping station with as much as several hundred barrels of oil on Monday night, causing another shutdown of oil flow from Alaska's North Slope, pipeline officials said yesterday. Mr. John Ratterman, spokesman
      UPI  -  290 words
    • Article
      Oil futures?
      30 3 NEW YORK, Wed. The New York Mercantile Exchange said It asked the Commodity Futures Trading Commission for approval to trade new petroleum product futures contracts for US delivery.
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    • Article
      Lock icon Report on Lance's finances to be released soon
      546 3 AP NYT WASHINGTON, Wed. The US Comptroller of the Currency has finished his report on Budget Director Bert Lance's finances and will send It to Congress for public release, probably tomorrow, government sources said yesterday. The 100-page report contains a summary and
      AP; NYT  -  546 words
    • Article
      Lock icon Brazilian trade back on plus side
      354 3 AP Reuter RIO DE JANEIRO, Wed. Brazil registered a US$llO.3 million (***** million) trade surplus In July, reversing a deficit from a year ago despite a strong decline in coffee exports, the government announced yesterday. The government said the total budget surplus for the
      AP; Reuter  -  354 words
    • Article
      Lock icon German govt warns against guessing
      233 3 Reuter BONN, Wed. Armln Gruenewald. deputy spokesman of the West German government, warned against speculation about the possible content of economic measures to be decided by the Cabinet at the end of this month. His statement followed local press reports that the Cabinet could well
      Reuter  -  233 words
    • Article
      Lock icon Israel devalues by 2pc
      103 3 Reuter JERUSALEM, Wed. The Israeli pound was devalued last night by nearly two per cent against the US dollar. It was the second devaluation this month. The Finance Ministry said the Israeli currency would be devalued from 10.17 to the dollar to 10.37, a devaluation of
      Reuter  -  103 words
  • Page 2 Advertisements
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      155 2 pppli mrnmrn ME UK PROFESSIONALS 001 OF COMTROL Tinker, tailor, soldier, sailor, rich man Doctors, architects, engineers and professors too NEW DIRECTIONS puts them all under the microscope. WOULD YOU KNOW A SHIN FROM A TZU NEW DIRECTIONS takes an illuminating look at the intricacies of translating Chinese poetry and
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      52 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 17 at Singapore airport. Maximum Temperature 30.7 °C Associated Humidity 67 Minimum Temperature 23.1° C Associated Humidity 96 Hours of Sunshine 10.35 Rainfall in Millimetres 3 Total Rainfall for the Month 112.6 Total Rainy Days for the
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      245 2 RADIO SINGAPORE 5 3.00 PM Opening Announcements followed by the Beverly Hillbillies (r) 3.30 Diary of Events (Chinese) 3.35 Eight Heroes of Shou Lin (r) 4.25 Intermission 6.00 Opening Announcement followed by Lassie 6.30 News in Brief 6.35 Warna-Warni (Malay) (r) 7.00 The Good Life 7.30 News (Malay) 7.45 PM's
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  • Page 3 Advertisements
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      197 3 BANKING AND FINANCE CALCULATORS AND They're synonyms With SHARP, calculations are simply matters of putting figures right, quickly which they're pretty good at because SHARP CALCULATORS are specialists in figures be it simplified, complicated or scientific. Q E D (Quite Easily Done) with SHARP SHARP CS-1153 10 digits printer display.
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      646 3 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 3 They had Liberal Ideas (5) 8 Watery medicine? (5) 10 Cross a fellow out of the race (5) 11 He has some cronies (3) 12 Appeal for soft metal (5) 13 Floral part of an animal (7) IS Old knight's vtewlng-ald (5) 18 The
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  • COMPANY NEWS
    • Article
      Apollo's first half profit jumps sharply
      476 4 APOLLO ENTERPRISES has served another pleasant surprise to Its shareholders In its second year as a publicly listed company. It reported on Tuesday that pre-tax profit Jumped about 258 per cent to Si.7 million for the first six months ended June 30, 1977. This
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    • Article
      DIVIDENDS ANNOUNCED
      282 4 Current Ex Date Total for ToUl for payment Date payable the year previous year Singapore Glass 10% July 29 Aug 19 10% 5% George Kent 12% July 21 Aug 26 12% 10% Malaysian Tobacco 15%I July 28 Aug 29 15%I 50% island Hen. 8% Aug 11 Aug 30
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    • Article
      Allied Malayan moves out of the red
      183 4 WITH its labour problems finally resolved. Allied Malayan Development was able to make a modest trading profit of M 527,599 for the six months ended June 30 1977, compared with a loss of $243,790 In the same period of 1976. This was its
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    • COMPANY MEETINGS
    • Article
      King's Hotel cuts costs and doubles its income
      350 4 IN LINE with Its bullish forecast of the hotel Industry, King's Hotel reported that pre-tax profit more than doubled In the first half-year ended June 30, 1977. Pre-tax profit for the period soared 100.15 per cent to $479,019 on a sales increase
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    • Article
      Low output takes the cream off Idris earnings
      221 4 FALLING tin production at Idrls Hydraulic and Tanjong Tin Dredging In the first half of this year has softened the Impact on profit of the recent massive rise In tin prices. Even so, Idrls has announced a 22.5 per cent rise in
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    • Article
      KL TIN INDUSTRY'S PLIGHT: MINISTER CLARIFIES
      372 4 KUALA LUMPUR, Wed. The Malaysian Deputy Minister of Primary Industries, Mr. Lew Sip Hon has described as "premature" the suggestion that a senior minister should be appointed to monitor tne Implementation of the various measures necessary to stimulate the tin Industry. Mr. Lew was
      372 words
    • Article
      PEOPLE IN BUSINESS
      72 4 CATHAY Pacific has appointed Mr. Peter Low Seng Chuan Marketing Officer (cargo) for Its Singapore office with effect from Aug 15. Chemical Bank has announced that it will be placing Mr. Richard T. Richard- son m charge of the entire Asian business of the bank. Mr. Richardson
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    • Article
      Lock icon Monte Carlo's biggest bet starts to pay off
      997 4 NYT MONTE CARLO, Wed. The biggest bet ever made In Monte Carlo Is paying off. Ten years ago. the Prince Rainier Government took the future of this postage stamp nation Into Its hands by nationalizing the Soclete Des Bains De Mer, which
      NYT  -  997 words
    • Article
      CHICAGO BOARD OPTIONS
      1258 4 On Aug 16 TRADING on the Chicago Board Options Exchange came to 92,458 contracts on Tuesday compared with 78,752 contracts on Monday. OPTION OCT JAN APL STOCK Alcoa 4S 13/4 3/4 UNTRD 47 1/8 Alcoa SO 11/8 2 23/4 411/8 Alcoa 90 UNTRD 1/4 1/2 411/8 Am
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    • Article
      Lock icon Drop in Pioneer's third quarter profit
      197 4 Reuter TOKYO, Wed Consolidated net profit at Pioneer Electronic fell to U5512.57 million In the third quarter ended June 30, 1977 from $13.03 million In the 1976 quarter. Sales, however, rose to $187.35 million from $164.95 million. Earnings per American depositary share (representing two
      Reuter  -  197 words
  • Page 4 Advertisements
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      98 4 Have you got your copy of the 197b/77 BUKU MERAH? !h r 6 r> o 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 information for business.
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Akzo payout hinges on 1978 prospects
      589 5 EUROPEAN COMPANIES Reuter AMSTERDAM, Wed. Akzo NV said It will seriously consider paying a 1977 dividend if prospects for 1978 are better, even though the profit expected for this year Indicate the dividend would not be covered. However, no firm statement can be made
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    • Article
      Lock icon Philips reports rise in second quarter
      337 5 Reuter AMSTERDAM, Wed. NV Philips Gloielampenfabrieken said net profit in the second quarter of this year rose eight per cent to 138 million guilders from 128 million guilders previously. Sales increased marginally to 7.28 billion guilders from 7.16 billion guilders. With the slight advance
      Reuter  -  337 words
    • Article
      Lock icon Bank Hapoalim intends to issue notes
      99 5 Reuter LONDON. Wed. Bank Hapoalim BM said it Intends to issue US$3O million of floating rate notes due 1982 in the International capital market through its subsidiary Hapoalim International NV. The notes will bear Interest at per cent per annum above London Interbank Offered
      Reuter  -  99 words
    • Article
      Commercial Union on recovery path
      576 5 LONDON. Wed. Leading off the 1977 half-year reports of the major UK composite insurers. Commercial Union has produced the expected large recovery of earnings and reduction or stabilisation of underwriting losses virtually everywhere In Europe. Intense reappraisal of exposures In the vital US market, which
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    • Article
      Lock icon Esso (A) joins coking project
      257 5 ASIAN COMPANIES AP MELBOURNE. Wed. Esso Australia has Joined the rush to invest in Australian coal resources with the purchase of a 25 per cent interest in the Hail Creek coking project in Queensland for AS24 million. Shares in the Australian mining company, Australian Associated
      AP  -  257 words
    • Article
      Lock icon Mt. Lyell assured of federal aid
      115 5 Reuter CANBERRA, Wed. Minister for National Resources, Doug Anthony said the federal government will give assistance to Mount Lyell Mining and Railway on a dollar-for-dollar basis. Federal aid is subject to a similar contribution from the Tasmanian government which has been agreed to by
      Reuter  -  115 words
    • Article
      Lock icon Thailand seeks US$120m loan
      73 5 Reuter HONGKONG, Wed. Thailand is seeking a US$l2O million loan and has circulated banks asking for bids for terms, banking sources said. They said no bank has yet been awarded the managership of the loan, which will probably be a syndicated commercial bank borrowing. In March,
      Reuter  -  73 words
    • Article
      Lock icon KL pump order for Tokyo firm
      72 5 UPI TOKYO, Wed. A Japanese trading firm has received a US$3 million order for seawater recirculating pumps from the Malaysian National Power Company, industry sources said. The sources said Kanematsu-Oosho, a leading trading firm here, won the order for six pumps by outbidding Australia,
      UPI  -  72 words
    • Article
      Philex
      28 5 MANILA. Wed. Philex Mining said it made a net profit of 51.3 million pesos in the first half of this year compared with 51.1 million pesos previously.
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    • Article
      Lock icon Royal enjoys 90pc profit increase
      250 5 Reuter LONDON, Wed. Pre-tax profit at Royal Insurance Jumped by about 90 per cent to £65.6 million in the first half-year ended June 30, 1977 from £34.5 million previously. This constitutes earnings per share of 27.2p against 14.6p last time. The company said general Insurance
      Reuter  -  250 words
    • Article
      Lock icon Lucas offshoot plans factory
      67 5 Reuter LONDON, Wed. Lucas Industries said its CAV subsidiary plans to build a US$3 million factory at Greenwell, South Carolina. to produce dlesel rotary pumps. Factory construction will start shortly and production of the pumps will start within a year using components for CAV's medway plant
      Reuter  -  67 words
    • Article
      Lock icon Heinz UK subsidiary higher earnings
      239 5 Reuter LONDON, Wed. H.J. Heinz, a subsidiary of H.J. Heinz of Pittsburgh, US reported that it made a pretax profit of £17.27 million on sales of £213 million for the year ended April 23,1977 up from a profit of £15.48 million and sales of £190
      Reuter  -  239 words
    • Article
      Lock icon Delay in Chevron's N. Sea oil platform
      182 5 Reuter LONDON. Wed. Chevron Petroleum (UK) said the central platform for the Nlnlan North Sea oil field will not be installed this year. Tow-out should take place In the first spell of good weather next year, possibly as early as April, and there
      Reuter  -  182 words
    • Article
      Less funds for small companies
      175 5 SEOUL, Wed. South Korea's medium and small businesses are suffering from a shortage of working capital, the Korean Herald reported. The Herald said statistics available at the Bank of Korea showed that the ratio of loans extended by city banks to small companies during the
      175 words
    • Article
      Lock icon Lepanto copper value down in first half
      140 5 Reuter MANILA, Wed. Lepanto Consolidated Mining said It produced 9,496 tonnes of copper in the first six months of 1977 worth 68.59 million pesos, down some 18.5 per cent in value from 84.17 million pesos In the same 1976 period. It produced 5,139
      Reuter  -  140 words
    • Article
      Lock icon Pogei undertakes survey in Visayan Sea
      85 5 Reuter MANILA, Wed. Philippine Oil and Oeothermal Energy Inc (Pogei) said It Is undertaking an Intensive seismic survey in Its Vlsayan Sea (central Philippines) service contract. Field shooting of offshore seismic lines round the islands of Bantayan and Oulntacan had just been completed and
      Reuter  -  85 words
    • Article
      Renown Inc
      28 5 TOKYO. Wed. Renown Inc. made an after-tax profit of 1.41 billion yen on sales of 71.08 billion yen in the first half-year ended June 30, 1977.
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    • Article
      Lock icon Will United raise Babcock bid?
      671 5 NORTH AMERICAN COMPANIES NYT WHAT will United Technologies do now that J. Ray McDermott's plan to offer US$55 a share for an additional 35 per cent of the shares of Babcock and Wilcox has Babcock's approval? The question has had Wall Street agog ever since
      NYT  -  671 words
    • Article
      Lock icon Socal denies anti trust charges
      109 5 Reuter STANDARD OIL of California, In a statement In response to a suit filed against it and nine other oil firms by the State of Washington, said it categorically denied charges of anti trust violations. Socal said the charges had been thoroughly Investigated by numerous
      Reuter  -  109 words
    • Article
      Savings deposits
      49 5 TOTAL deposits of the 300 largest US savings and loan associations rose 18.3 per cent to a record U*****.4 billion at June 30 from $148.3 billion a year earlier, the American Banker newspaper said. This is the largest midyear to mid-year gain since June, 1972, it said.
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    • Article
      Lock icon Furore over Citibank moves to get Visa customers
      554 5 NYT RECENT attempts by Citibank of New York to acquire new Visa charge-card customers in this Rocky Mountain state have raised eyebrows of local bankers and sent attorneys scurrying for the law books. The flap began last week, when Citibank sent an
      NYT  -  554 words
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      Page 5 Advertisements Column 1
      34 5 Peter Benchley 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAILY TELEdRAPH 5 s <• V, Tor the second time -the book you can't put down -DAILY MAIL READ THE BOOK SEE THE FILM
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  • Article
    Share Information Service
    2379 6 1977 High Low Compaay Laat Sale +«rGr't div Div e'w Gr'a y'U N«t P/E Vol Day Hick Low SECTION ONE INDUSTRIALS 154 204 96 230 88* 198* 169 223 404 171 136 172 58 212 57* 155 152 182 350 145 Acma Alcom Allied Choc Bata Ben
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  • Article
    Transactions in Singapore
    1541 6 BID and offer price* officially listed and butmesa in and reported to the Stock Exchanf* of Singapore J*et*rday with the number of ahar** traded shown In bracket* in lou of 1000 unit* unlet* otherwise specified All Time Settlement Contract* are quoted after the word Sett Btc Board
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  • Article
    In Kuala Lumpur
    1550 6 810 and offer price* 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 Ajinemeta (2 04B). Aleem (1.928). A.M.O. I0.I9B) (4) 0.60 A.IM. (0.78B)
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  • Article
    Stock options
    85 6 STRIKING print at tha itocfc optiom officially listed an the Stock Eachnufr of Singapore, the periods, bid and ottw price* and busineee done yeeterday. with the number of options traded shown in brackets. Inchcape (Sept $2.40) (0.225). (Dec 52.40) (0.268). (Mar S2 40) (0 30B). OUB (Sept $2
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  • Article
    Unit trusts
    144 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Muifn' pries* for Aug It) (Comat rices) The Commerce INCOME BOND 1.07 1.13 1.72 1.82 The 8a vine Fund 1.00 1.06 MARA BUMIPUTRA FUND S pore Prog Fund 0.89 0.80 (Maaagars price) far Aim 18) S pore Security Fund 8'pore Invest Fund
    144 words
  • Article
    CORPORATE BONDS
    158 6 B O T 8 1/2% 1981 (100.000) (103 *B 103HS) B O T 7 5/8% 1984 (100.000) (998 99*S) L T C B J 1982 (100.000) (98SB 995) Credit Lyonnais Floating 1983 (100.000) (98>48 98^8) DBS Converts 6 1/2% 1991 (100.000) (988 98HS) D B S 8 1/2%
    158 words
  • Article
    GOVERNMENT BONDS
    122 6 Rep Spore D Mask 7% 1982 (100,000) (1018 101 *S) Rep Spore 6 1/2% 1983 (100,000) (99%8 100HS) Rep Spore 7 3/4% 1987 (100.000) (100*B 101S) 5 1/4% 15/7/78 (250,000) (101 40S) 4 3/4% 1/5/79 (250.000) (100.85B) 5 1/4% 15/10/79 (250,000) (101.88S) C 3/4% 1/12/80 (250,000) (105.00S) 5
    122 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Times 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 For only $3.50 per single column centimetre
      176 words
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  • Article, Illustration
    SES TENDS IRREGULAR
    686 7 AN IRREGULAR pattern of trading prevailed again on the Btock Exchange of Singapore yesterday. Trading was concentrated in the second and thin! liners, while the good quality stocks were generally neglected,and the few deals recorded, passed at small losses. Observers note that the prevailing pattern of trading
    686 words
  • Article
    KLSE CLOSES MIXED
    308 7 THE Kuala Lumpur stock market closed on a mixed note after trading Irregularly especially In the lower-priced stocks yesterday. It opened on a barely steady note but soon found profit-taking mixing with scattered speculative support among the second and third line industrials. Investment support was clearly lacking
    308 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      342 7 HONOKONO: The market closed fairly steady In dull trading, on continued European selling of blue chips, dealers said on Wednesday. The Hang Seng Index slipped 0.33 points to close at 416.68. Heagkoag Bank rose 10 cents to 917.70. Hieghiag Lsad five cents to $6.70, with Swire Pacific quoted at
      342 words
    • Article
      Tokyo
      498 7 TOKYO: Share prices closed lower on profit taking following the recent sharp rise, dealers said on Wednesday. The Dow Jones lost 15.56 to close at 5,216.02 with volume 360 million shares. The New index closed at 383.86, up 0.15. Export-orientated electricals. motors and precision Instruments closed mixed on fears
      498 words
    • Article
      Sydney
      429 7 SYDNEY: The market closed mixed on Wednesday with energy stocks fluctuating after budget announcements of higher oil and petrol prices and a reduced coal levy, dealers said. The Bydney All -Ordinaries Index slipped 0.71 point to coee at 441.15. BHP firmed two cents to 95.80. below Its day's/high of
      429 words
    • Article
      Manila
      151 7 MANILA: The market closed easier, with all Sectors declining and turnover reduced, dealers said on Wednesday. Turnover fell to 2.86 million pesos from Tuesday's 4.72 million. Philex lost one point while other mining Issues were steady. PLDT was down one point. Other commercials were unchanged. AUG 17 Pesos Acoje
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    • Article
      Bangkok
      102 7 AUG 17 Bahu Asia Fibre 211 4-8 Bangkok Bank 388 +8 Bangkok Invest. 270 +8 Bangkok-Metro-politan Bank Bala 685 Berll Jucker 420 4-14 Charoong Thai Wire IBS •1 Dumex a Du*lt Thanl Faber Merlin First Trust 1M Indo-Thal Industrial Finance Corp 1286 J And J Ho 27S ♦2 Jalaprathan
      102 words
    • Article
      Amsterdam
      296 7 AMSTERDAM: The market closed generally lower on Tuesday with Dutch Internationals slightly mixed after a weak opening. Philips was 0.00 guilders lower after announcing lower than expected first half-year figures. Akso lost 0.90 guilders, while Hoogovens and Royal Dutch were slightly firmer. Elsewhere banks were mostly higher. Lower shares
      296 words
    • Article
      Brussels
      149 7 BRUSSELS: Share prices closed mixed In quiet trading, on Tuesday, after the long holiday weekend, bourse sources said. Sidro, Aaturienne, Vieilie Montague and Solvay rose but Cockerill, Clabecq, Electrobel and CBR fell. US and most UK stocks rose, Germans and Canadian were mixed and Dutch and French shares fell.
      149 words
    • Article
      Frankfurt
      322 7 FRANKFURT: Shares closed mixed In quiet trading, bourse sources said on Tuesday. In stores Karetadt and Kauftof fell 1.50 marks, while In engineerings Maa ordinary fell four marks but KHD roes 1.20 marks. In chemicals Baysr gained 1.50 marks and In utilities RWE eras up 1.60 marks. However. Maiswaaa
      322 words
    • Article
      Milan
      161 7 MILAN: The market closed mixed in slack trading. Influenced by liquidation of the monthly account, dealers said on Tuesday. Gainers Included Ante, Flat, IFI prl. Gen Inunob., Italcementi. Pirelli E C and Snia viscoea. Elsewhere however Assicuraxioni General!, Centrale. Italsider, Montedison, both Olivetti*, and Pirelli SPA eased. Bastogi and
      161 words
    • Article
      Paris
      365 7 PARIB: The market moved lower In thin trading on Tuesday. discouraged by an opinion pool published in "Le Matin" suggesting 54 per cent of French voters support the Union of the Left, dealers said. With record unemployment figures and a 1/8 point rise In call money as supplementary depressing
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    • Article
      Zurich
      314 7 ZURICH: The market firmed In generally active trading on Tuesday. Yield considerations made for a firmer trend In quality stocks following the declining trend of Interest rates on the bond market. Demand remained selective with foods, metals and engineerings actively higher Including Brown Boveri, Hero Conserven, Nestle bearer and
      314 words
    • Article
      Jo'burg
      388 7 JOHANNESBURG: Gold shares were easier on balance on the stock exchange on Tuesday, although some prices firmed towards the close on London and local Interest, dealers said. Gains of up to 20 cents were posted, though heavyweights generally showed losses of up to 50 cents and medium and lightweight
      388 words
    • Article
      Toronto
      312 7 TORONTO: The market closed broadly lower in moderate trading on Tuesday with the composite Index off more than five points and declines outpacing advances 206 to 150. Among companies reporting earnings, Northgate Exploration gained five cents to $4.90, Done Mines added 3/8 to 54-7/8, Campbell Red Lake dropped 3/4
      312 words
    • Article
      New York
      1156 7 NEW YORK: Signs of slower economic growth and continued fears of higher Interest rates blocked an early rally attempt, pushing prices broadly lower In moderate trading on the New York Stock Exchange on Tuesday. One of the economic signs was the government report on housing. While building starts
      1,156 words
    • Article
      Indices
      70 7 FINANCIAL TIMES INDUSTRIALS Tuesday 490 4 Monday 476 4 Week Ago 481.8 DOW JONES AVERAGE INDUSTRIALS Tuesday 888 28 Monday 874 13 Week Ago 878 42 LONDON DOLLAR PREMIUM Tuesday 87* to 87*. Monday 88S to MVt H.K. HANG SENG Tuesday 419.01 Monday 418.27 Week Ago 425.82 SYDNEY INDUSTRIALS
      70 words
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      Page 7 Advertisements Column 1
      498 7 BUSINESS TIMES Airline Directory Atroftot Soviet Airlines 110-112 Show Centre, Orchard Rood, (Tel: 377.111) Air Ceylon 302-B, 3rd Floor, Marino House SKenton Way, Singapore (1) (Tel: *****88) Ground. Floor, ICB Building, Shenton Way Singapore 1 (Tel: *****11) 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel: 2205.277) Air New Zealand
      498 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      475 8 ON the Singapore rubber marked yesterday, opening quotations were marked down 0.75 cents Initially following lower London advices but recovered later. Turnover was fair. Reports of fair overnight Soviet offtake for September One, Two and Three RSS from Malaysia coupled with covering and forward demand
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    • Article
      RAS PRICES
      327 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S. prompt f.o.b. 192.25 193.2SN 192.25 193.2SN Int. 1 R S.S. September 195.00 195.50 195.00 195.50 Int. 1 R S.S. October 197.50 lge.oo 197.50 198.00 Int. 2 R.S.S. 192.50 193.50N
      327 words
    • Article
      SSR AND SMR
      104 8 NOON SSR and SMR prices yesterday R.A.S. acpunon (Currant Mth) (Forward Mtk) Buyers Sellers Buyers Sellers (cents P«k|) (cent ■m per k« SSR 20 (1 ton pallet) 192.50 194 50N 193.50 195.50N SSR 50 (1 ton pallet) 190 00 192.00N 191.00 193.00N MHELB SMR5CV (1 ton pallet)
      104 words
    • Article
      Closing prices
      30 8 Rubber: August 17 Singapore: September 196.00 cents (up 0.75 cent) Malaysia: September 196.25 cents (up 1 cent) Tin: $1,676 (up $4) Official offering: 200 tonnee (down 12 tonnes)
      30 words
    • Article
      Produce exchange
      497 8 PRICEB were generally marked down on the Singapore produce market yesterday, bringing them more In line with overseas levels. In the absence of foreign buying interest, Singapore Importers, too, were reluctant to open new commitments though fairly cheap offers were held out by origins. Pepper continued to show
      497 words
    • Article
      Sugar
      249 8 LONDON, Wed. Terminal opened £0.85 to £0.50 per tonne down. Sales totalled 630 lots. Dealers said trade selling initially depressed values but scale-down buying and short-covering provided good resistance with basis October at £108 per tonne. The market was now awaiting developments from today's EEC raw and white sugar
      249 words
    • Article
      Duty rates
      69 8 THE Malaysian Minister of Finance has fixed these rates for the period from Aug 18 until further notice: Rubber: 88 1/8 centa a pound Copra: $790 00 a ton Palm Kernel: $235 25 a ton The rates of duties payable are Rubber: 9 1/2 cents a pound total
      69 words
    • Article
      Palm oil
      70 8 C.I.F. Rotterdam. U8 dollars per ton. LONDON: Malayila 5S ffa bulk: Taaadajr Piwlw Sept 448 pd 457*1r Sumatra 5* Aug 962.50 ilr 562.50 ilr Sept Oct 460 Dd 455/450 pdi 490 ite 465 ilr Nov 440 pd 455 air Dec 430 air 450 tlr Jan 490 air 450
      70 words
    • Article
      Coffee
      285 8 LONDON, Wed. Terminal coffee values rose £44 to £70 at the opening In trading estimated at 571 lew. November, which made up over half the volume sold, was as high as £2,560. The tone was officially "steady." Activity featured mixed. Traders attributed the market strength to yesterday's llmlt-up close
      285 words
    • Article
      Straits tin market
      273 8 THE Straits tin price In Penang yesterday was up Ms 4 to $1,676 per plcul on an official offering down 12 tonnes to 200 tonnes. The small rise followed Tuesday's steadier London Metal Exchange and buying Interest from Japan and UB, with local dealer covering, dealers said.
      273 words
    • Article
      Cocoa
      221 8 LONDON, Wed. Terminal cocoa first traded £11 down from last night against New York basis near December at £2,370 but soon rallied to close the opening call £7 lower (July at £2,079) to £19.50 higher. Dealers said the recovery could be attributed to Jobber and outsider shortcovering, after yesterday's
      221 words
    • Article
      Hongkong comex
      298 8 HONGKONG, Wed. The cotton futures market closed generally firmer following the overnight rise In New York, dealers said. July fell 0.17 US cents, while other months rose 0.01 to 0.30 cents. Total turnover fell to 19 lots from yesterday's 28. Open positions after yesterday's trading were 130 lots,
      298 words
    • Article
      Rice
      215 8 BANGKOK, Wed. Indicative prices quoted here today were: (In US dollars per tonne. FOB Bangkok) WMIa Wco: 100 per cent Ist class 306. 100 per cent 2nd class 292.100 per cent 3rd class 288 5 per cent 277, 10 per cent 253. 15 per cent 250. 20 per cent
      215 words
    • Article
      Soybeans
      160 8 CHICAGO, Wed. Soybean futures yesterday recovered from new seasonal lows reached early In the session and new crop months posted gains while August recovered most of Its early loss. August closed with a loss of IVt cents a bushel after dropping the 30-cent limit earlier. September was up 10
      160 words
    • Article
      Wheat
      87 8 CHICAGO, Wed. Wheat futures yesterday closed near the highs of the day's trading range, posting gains of 2V» to two cents a bushel. Prices declined around two cents In early trading to fractionally below the contract lows reached on Monday. Liquidation and speculative selling were prompted by the lower-than-expected
      87 words
    • Article
      Copper
      300 8 LONDON. Wed. Copper wire bars gained fully £5 for cash and £8 for Three Months. Dealers said the market staged a technical rally this morning aided by the firm New York close and steadier gold. Three Months finished the kerb trading at the high of £681. Bales of 6,900
      300 words
    • Article
      Silver
      270 8 LONDON, Wed. Sliver rose by 1.6 to 1.8 pence per troy ounce. Dealers said the movement was touched off by the rally In New York with the higher gold fix and the trend In base metals as additional firming Influences In the pre-mar-ket. Three Months opened the ring at
      270 words
    • Article
      Gold
      333 8 THE Singapore gold market opened on a quiet note. The kllobar was quoted at 5511,414 In thin trading and the market closed lower at S$U,4O6. Dull trading prevailed In the loco London market Prices opened at U*****.05/30 and fluctuated marginally before closed at U*****.85/ 144.05. The London morning fix
      333 words
    • Article
      Lead
      103 8 LONDON, Wed. Lead advanced by £5 for cash and £4.25 for Three Months. Values were firmer following the turnround in copper with shortcoverlng taking Three Months up to £316 In the pre-market although trade selling In late ring dealings pared the position to £312.50. Lost ground was subsequently recouped
      103 words
    • Article
      Zinc
      105 8 LONDON, Wed. Zinc finished with gains of mostly £8.50 per tonne. Zinc reflected the general trend with short-cover-ing and small European physical demand the main supporting factors, dealers said. Three Months traded up to £299.50 during moderate ring dealings but finished the kerb at £300. Sales of 3,300 tonnes
      105 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        510 8 TRADING was reported hectic on the Singapore foreign exchange market yesterday as the US dollar fluctuated erratically against both the Japanese yen and the Deutschemark. Against the yen, the US dollar eased towards the late afternoon by a margin of 115 points to 266.25/35 yen from its opening of
        510 words
      • Article
        Minimum lending rates
        54 8 ACBC SH Firat Chicago 6 1 Al|«nriw Bank Bangkok Bank t l i 7 C itihank HSBC 6 1 Bank of America m Indoauez 7 (>« Bank of Tokyo 6 1 S*4 Bank Negara OCBC Indoneaia 7 OUB Chartered Bank 6 1 UCB 7 6 l L'MBC
        54 words
      • Article
        Asian $ rates
        164 8 Asian rates ASIAN currency depoait Interbank rate* a* at close on Auc 11 US Doll Offer 7 days 6 1/B 6 1 mth 5 15/16 5 13/16 2 mths vie 6 3/16 3 mths 1/2 6 3/8 6 mths 6 13/16 6 11/16 9 mths 6 15/16 6 13/16 12
        164 words
      • Article
        Discount
        48 8 RANOE of prices offered by discount houses on Aug 17: Overnight 1 v, to 3H Call deposit 3% Closing Buying Selling 3-Month Treasury 3 2 7/8 3-Month Bank bills 4 1/4 41/8 3-MonthsCD 4 3/4 4 5/8 8-Months CD 5 4 7/B Source: National Discount Co. Ltd.
        48 words
      • Article
        Euro $ rates
        161 8 Euro rates LONDON, Wed. Period Eurodollar deposit rates up to six months opened easier, reflecting the Friday dealing technicality while shortdates opened little changed, but overall, rates tended slightly softer from openings in early trading, dealers said. Initial technical losses in periods ranged from 3/8 In One Month to 1/16
        161 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 22 to 26. Each tender must not be less than $250,000
        38 words
      • Article
        New York
        132 8 NEW YORK, Wed. The dollar, firm in light trading at the opening yesterday fell against most currencies In heavy selling towards the close. Dealers attributed the decline mostly to the fall In the federal funds rate. One dealer said there Is doubt in some people's minds on what
        132 words
      • Article
        London
        201 8 LONDON, Wed. Sterling held very firm around U551.7411/14 against its overnight $1.7403/06, dealers said. The Bank of England was intervening In the morning at around 1.7414 to stem sterling's rise against the dollar, they added. Dealers also report the ba ik was selling sterling forward to prevent forward discounts
        201 words
      • Article
        Tokyo
        103 8 TOKYO, Wed. The US dollar for overnight delivery closed at 286.70 yen, compared with 267.40 at the opening and at yesterday's close, reflecting Japan's record visible trade surplus for July, dealers said. A midday decline, attributed to exporters' selling forward dollars, was accelerated towards the close following the announcement
        103 words
      • Article
        Hongkong
        112 8 HONGKONG, Wed. The US dollar eased against the yen and sterling, although it recovered earlier losses against the mark In active trading, dealers said. The yen firmed to 266.65/75 from New York's closing mid-point equivalent of 267.02, following the strong Japanese trade and payments figures, they said. On the
        112 words
      • Article
        Australia/NZ
        60 8 AUSTRALIA/NZ exchanges on Aug 17: Australia: Sterling 0 L 6366/0 6296 US dollar 1.1042/1 0994 Ninety-day air mall buying rates: Sterling 0 6526 US dollar 1 1292 Ninety-day forward buying rates Sterling 0 6334 US dollar 1 09S0 New Zealand Sterling 0 5562/0 5532 US dollar 0 9727/0 9627
        60 words
      • Article
        Frankfurt
        41 8 FRANKFURT exchanges opening quotes on Aug 17: U8 2 3298/3308 Can 2 1655/75 UK 4 055/065 Neth 94 62/72 Bwit* 95 50/60 Italy 2 633/643 Prance 47 20/30 Norw 44 20/30 Belg (com) 6 51/52 Belg (fin) 6.90/91 Japan 0.8736/49
        41 words
      • Article
        Zurich
        46 8 ZURICH exchanges closing quotes on Aug. 16: US 2.4412-4422 UK 4.2480-2906 Can 2.2869-2685 W Oerm 104.34-44 Neth 98.79-88 Prance 40.49-90 Belg 6.80w-am Denm 40.96-90 Norw 46.20-24 8 wed 59.36-40 Italy 0.2761-2764 Austria 14 70-72 Port 6 28-32 Spain 2.880.-88*. Arg 0 56-65 Japan 0.91 -81W
        46 words
      • Article
        Eurobonds
        298 8 LONDON, Wed. Straight US bonds held steady in light two-way interest. Dealers noted some consolidation at the lower levels. Straight* Bid Offer Austria 8* 90 101* 102* Bell Canada 8* 86 104'. 105 BFCE 8* 83 ior» 102S Brazil 9* 84 98* 99'* Can Pacific 9% 83 101'. 102
        298 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      169 8 s jg!*. MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE 1 r ASIA RESEARCH BULLETIN 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.
      169 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon British air traffic may come to a halt
      381 9 AP LONDON, Wed. Britain's 950 air traffic controllers may halt all air traffic in and out of the country later this month If the majority votes for a strike over retroactive pay claims. The result of the balloting this week is to
      AP  -  381 words
    • Article, Illustration
      Untitled
      217 9 A new articulated roll-on/roll-off ramp is being constructed at the container berth at Fremantle, Western Australia, primarily to serve the Anro Consortium of which Singapore's Neptune Orient Lines is a member. The ramp will be completed in October when the Anro Consortium will introduce three hybrid ceilular/ro-ro container vessels on
      217 words
    • Article
      Lock icon US judge rules wastepaper rates excessive
      189 9 AP WASHINGTON, Wed. A US Maritime Commission law Judge ruled yesterday that ocean shippers are charging excessive rates to carry wastepaper from the US Pacific coast to the Far East. Judge Seymour Glanzer directed that the Pacific westbound conference eliminate wastepaper from its rate
      AP  -  189 words
    • Article
      Lock icon Export boom over for Japanese cars — Toyota MD
      540 9 Export boom over for Japanese cars Toyota MD AFP TOKYO, Wed. The Japanese car export boom Is over, In the opinion of Shlgenobu Yamamoto, managing director of the Japanese car giant Toyota. He said that the #apanese car Industry was entering a period of stable and moderate growth. "Like the
      AFP  -  540 words
    • Article
      Lock icon Faulty switch recall
      114 9 UPI TORRANCE, (California), Wed. The distributor of Toyota cars In the United States is recalling 134,000 cars because a faulty switch In the transmission lever could cause a fire, the company said. Affected are 1970 and 1971 Corona and Mark II models, Toyota Motor Sales USA Inc.,
      UPI  -  114 words
    • Article
      European carrier to make KL its centre
      234 9 KUALA LUMPUR, Wed. A major European all-cargo carrier Is planning to establish Kuala Lumpur as Its transhipment centre for freight between Europe, South-east Asia and Australia. The carrier, Cargolux International S.A., made the announcement yesterday In conjunction with the opening of their own
      234 words
    • Article
      Penang berth progress
      223 9 PENANG, Wed. The construction of berth No 6 which will be a container berth with roll on roll off facility is progressing smoothly according to the Penang Port Commission. In its latest Issue of Bertta Pelabuhan It says the whole project is expected to be completed by
      223 words
    • Article, Illustration
      IN PORT
      368 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Blue Shark (HOEZ) (2000 after Pltria) 40/41 Bunga Mas (0600 after Tosei Maru) 19 Ernst Schneller (after Esso Procyon not to exceed 150 m) 38/39 Golden Globe (CCS) (1500 after Ocean Hope) 44 Guatemala Maru (JPAD) (2359 after Perekop) 8/9 Murasakl Maru No.
      368 words
    • Article
      Lock icon France's longest press walkout comes to an end
      196 9 AP PARIS, Wed. A 29-month strike at the newspaper Parlslen Llbere the longest walkout in French press history was settled yesterday with a compromise that left "nelthei victor nor vanquished," the Government announced. The strike broke out In March, 1975, when the
      AP  -  196 words
    • Article
      Lock icon Ford recalls 750,000 vehicles
      88 9 Reuter DETROIT, Wed. The Ford Motor Company yesterday recalled more than 750,000 1976 and 1977 model cars to replace potentially defective engine cooling fans, the same problem that forced the recall of more than 400,000 Fords last June. The fans are equipped with flexible plastic blades
      Reuter  -  88 words
    • Article
      Lock icon Jaguar takes first place
      71 9 Reuter LONDON, Wed. RollsRoyce, Mercedes-Benz and Cadillac took a back seat yesterday when a British magazine Judged the Jaguar XJ 12 to be the world's best car. The magazine, Car, said the Jaguar was a better driver's car than the Mercedes and offered a smoother, quieter
      Reuter  -  71 words
    • Article
      Lock icon Duty-free Thai shop
      56 9 AFP BANGKOK, Wed. Thai International opened its first mld-clty duty free shop In a bid to boost the tourist Industry. Located near the popular Raj dam rl shopping centre, the shop offers both Imported and locally made goods such as cigarettes, liquor, cameras, radios, tape recorders, perfumes,
      AFP  -  56 words
    • Article
      SAFMARINE SERVICE
      114 9 BAFMARINE Service provides a fortnightly frequency of sailings between Singapore and other Southeast Asian ports. Singapore/South Africa. Singapore agent*: Malay States Shipping Company. Parts af call: Durban, Capetown, Port Elizabeth, East London and Maputo. types af carga: rubber, timber, paraffin produce and general cargo. Ty»ss of nml: conventional.
      114 words
    • Article
      Lock icon World's first wavepowered generator
      175 9 AFP TSURUORa, Wed. Japan will float the world's first ship-shaped wave-powered Knerator off its coast in ly next year, the Marine Science and Technology Centre announced yesterday. Centre officials hope the wave-activated power generation system will produce 2,000 kilowatts of electricity for this resourcepoor country In
      AFP  -  175 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      553 9 ARRIVALS tavk* Operator Numb«r Low Tl» J Frtxa CPA CX003 0145 HKQ MAS MH682 0610 KCH CPA CX710 1000 HLP OIA OA06O 1030 HLP SIA SQ211 1045 HLP OIA OA944 1055 PKU OIA QA908 1100 MES PAL PR901 1115 MNL RBA BI325 1155 BWN SIA SQ240 1210
      553 words
    • Article
      Lock icon London freight market
      201 9 AP LONDON, Wed. Atlantic grain chartering became less pronounced yesterday, but a number of other fields tended to offset lack of business In that area. Chinese charterers, for instance, took 32,000 tons of Australian wheat aboard the "Tarpon Sealane" In August-September position at the steady rate of
      AP  -  201 words
    • Article
      Lock icon Ford supports new treaty
      183 9 UPI WASHINGTON, Wed. Former President Gerald Ford promised yesterday to support President Carter's new Panama Canal agreement, a move that may divide Republicans in what appears to be a tough and emotional political struggle for ratification. As Gen. George Brown, chairman of the Joint Chiefs of
      UPI  -  183 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      233 9 THEHAMLYN PICTORIAL ATLAS OF THE WORLD A modern and comprehensive atlas has become indispensable both to students of geography and to general readers A'ho want to understand the new economic and political shape of the world. Here, for the first tune, a coni ise fascinating and authoritative text, illustrated with
      233 words
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  • Article, Illustration
    Lock icon Major govt shake-up raises Iran's hopes
    899 10  -  By IBRAHIM NOORI Reuter TEHRAN: Dr Jamshld Amouzegar, formerly Iran's top oil negotiator who has now been made Prime Minister, will need all his skill to tackle the country's urgent development problems. His priorities, as listed by the Shah, Include housing, Inflation, manpower, education
    Reuter  -  899 words
  • Article, Illustration
    Lock icon East and West meet and compete in Africa
    1176 10  -  By JEREMY TOYE Reuter FREETOWN, (Sierra Leone): From the days when sailing ships plied the West African coast with cargoes of gold, ivory and slaves, big power rivalry has been a fact of life in the region's steamy capitals.. Now there are
    Reuter  -  1,176 words
  • Article
    Lock icon British workers worse off but more contented
    1000 10  -  The real earnings of British workers including management are among the lowest in Europe. But a survey shows that most people in Britain do not particularly want to get richer anyway, particularly if it involves working harder. By ROY LEVINE FT LONDON: Britain's
    FT  -  1,000 words
  • Article
    Lock icon Gas brings US and Canada together
    1161 10  -  Mr. Trudeau of Canada has been wooing Mr. Carter of the United States, after years of comparative coolness between the Canadian and United States governments. One of the most important first results of this happier relationship could be collaboration on a US$lO billion gas
    FT  -  1,161 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      386 10 ll '/77/ t <« '11 o V'O/ V/. s >ATop 'CO/V THE GREAT BOOKS OF WESTERN CIVILIZAnON These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the fettered mind; the thoughts and theories that have built
      386 words
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  • Article
    Lock icon Call for uniform minimum wage system
    170 11 AFP YOKOHAMA. Wed. Japan'* biggest national labour federation, Sohyo, today called for the establishment of a uniform minimum wage ay stem, better social security system and job security amid the current serious economic crisis. »The appeal was made by chairman Motofumi Makideda of the
    AFP  -  170 words
  • Article
    Lock icon Decision hailed
    91 11 Reuter TOKYO, Wed. Japan welcomes the US Government's decision announced on Monday night to buy the yen it needs on the open market rather than from the Japanese Government, Finance Ministry officials said. The ministry was amplifying an announcement that agreement has been reached for Japan to stop
    Reuter  -  91 words
  • Article
    Lock icon No more deals
    77 11 UPI TOKYO, Wed. Japanese banks suspended transactions with 1,481 companies In July for failure to meet their liabilities, the nation's Bank Liaison Council reported today. The statistic applies to firms capitalised at one million yen (559,200) or more. The council said the firm's unmet debts amounted to
    UPI  -  77 words
  • Article, Illustration
    Lock icon Thais not happy with aid offers
    354 11 UPI BANGKOK, Wed. Thai officials are disappointed over Japanese Prime Minister Takeo Fukuda's aid offers and postponement of decisions on Thailand's huge trade deficit with Japan. The official Thai government newspaper Chao Phya reported today that Prime Minister Thanln Kraivichien had asked for more
    UPI  -  354 words
  • Article
    Lock icon Textile sales hit $1 billion in July
    145 11 AFP TOKYO, Wed. Japanese textile exports last month came to U*****,021,000 (Ssl billion), registering a 7.4per cent increase over the same month of last year. The Finance Ministry, In its monthly customsthrough report, also said imports of textile raw materials were down 12.5
    AFP  -  145 words
  • Article
    Lock icon Steel output to fall in Japan
    174 11 Reuter TOKYO, Wed. Japanese steel production in fiscal 1977 ending next March will almost certainly fall back to the level of two years ago, or around 102 million tonnes, because of flat domestic demand and a slowdown In exports, Industry officials said. Officials at
    Reuter  -  174 words
  • Article
    Lock icon Tobacco experts for Thailand
    91 11 Reuter TOKYO, Wed. The semiofficial Japan Tobacco Corporation said yesterday it would send experts to Thailand this month and to Algeria next month to give technical aid in tobacco production there. It said two experts would be sent to a tobacco leaves' cutting plant In Thailand.
    Reuter  -  91 words
  • Article
    Lock icon Cameras also doing well
    88 11 Reuter TOKYO, Wed. Japanese camera exports during the first six months of this year rose 26 per cent to 126 billion yen (551.16 billion), it was announced here today. The Japanese Camera Industry Association said exports to the United States rose 42per cent to 41 billion
    Reuter  -  88 words
  • Article
    Lock icon Fukuda to ask for rate cut?
    135 11 UPI TOKYO, Wed. Prime Minister Takeo Fukuda Is expected to ask the Bank of Japan for another discount rate cut after returning tomorrow from his visit to the South-east Asian countries, Japanese newspapers reported today. According to press reports the Prime Minister Is reportedly
    UPI  -  135 words
  • Article
    Lock icon Foreign loans not a burden on Indonesia
    252 11 AP JAKARTA. Wad. Proddent Suharto said last night that foreign loans received by the government are not going to impose a heavy bunion upon the Indonesian people in the future. Addressing the nation on the eve of the 32nd National Independence Day, Mr.
    AP  -  252 words
  • Article
    Lock icon Removal of tax urged
    71 11 Reuter MANILA, Wed. Rizal Commercial Banking Corp president David Syclp urged the removal. or the 15 per cent withholding tax on Interest on savings and time deposits. At a public hearing by the National Economic Development Authority, he also sought the elimination or reduction of the
    Reuter  -  71 words
  • Article
    Incentives galore for foreign investors in Bangladesh
    376 11 BANGLADESH, like all developing countries, has problems of illiteracy, communications, health, technological know-how, and explosive population growth. To solve these problems the country is looking to industrialisation and reactivating past development schemes in the largely agricultural country. speatcing at a Rotary Club luncheon
    376 words
  • Article
    Lock icon Queensland gives sugar refiners an ultimatum
    404 11 UPI BRISBANE, Wed. The Queensland State government has given Japanese sugar buyers until Aug. 31 to accept amendments to the five-year sugar contract before It takes legal action against them for breaching the contract, State Minister for Primary Industries Victor Sullivan said yesterday. A
    UPI  -  404 words
  • Article
    Big meet of Asian managers in Nov
    309 11 THE Asian Association of Management Organisations (A A MO) comprising management institutes from 12 Asian countries Is organising a four-day conference here from Nov 1. The theme Is "The making of a manager." About 500 managers, mainly from Asia, Australia and New Zealand,
    309 words
  • Article
    Coconut producers to seize the opportunity
    266 11 THE Asian and Pacific Coconut Community (APCC), the regional association of coconut producing countries, has decided that efforts be made to cash in on current opportunities for changes in existing trade arrangements for their common commodity. According to a United Nations Information Service report,
    266 words
  • Article
    Sim Lim sues
    104 11 SIM LIM Finance has filed a suit In the High Court against Messrs. Ng Soo Lam, Ng Soo Seng, and Teo Thlam Hock and Mdm. Ng Lay Choo for an alleged sum of $280,511 together with further Interest thereon at 14 per cent per annum from Feb.
    104 words
  • Article
    Sime Darby's $50,000 gesture
    164 11 SIME Darby Holdings Ltd. Is donating $50,000 towards the Orand Safety First Ball the first project of the National Safety First Council to raise money for their building fund. A cheque for the amount will be presented by Slme Darby's executive chairman, Tun Tan Slew Sin
    164 words
  • Article
    Lock icon China ties: Vance to explore formula
    523 11 NYT WASHINGTON, Wed. Administration officials said yesterday that Secretary of State Cyrus Vance would explore with China's leaders next week on the possibility of finding a formula that would allow the United States to establish formal relations with China while being assured that Taiwan
    NYT  -  523 words
  • Article
    Lock icon ARRESTS OF AIDES STUN CONGRESS
    299 11 UPI NEW DELHI, Wed. India's Congress Party, already weakened by losses in national and state elections, was stunned today by charges that three top aides to former Prime Minister Indira Gandhi stole millions of dollars of party funds for their own use. Party members admitted
    UPI  -  299 words
  • Article
    Agents for British products wanted
    155 11 REPRESENTATIVES rrom two British manufacturers will be In Singapore in October to find agents for their companies' products. Mr. Melvyn Douglas, sales director of D.B. Oswald, will be marketing a camel hair belting known as "Powerdrive." The transmission belting is said to give an increase
    155 words
  • Article
    Lock icon Last cable tie-up
    62 11 Reuter MANILA, Wed. The Philippines will be the "hub of South-east Asian communications" in 1083 with the completion of the Thailand Philippines submarine cable network. The Eastern Telecommunications Philippines, Inc. (ETPI) said yesterday. The Thailand-Philip-pines cable network, which will cost US$O2 million (*****.3 million), is the last
    Reuter  -  62 words
  • Article
    CAFHI will lay first pipelines next month
    367 11 CHANOI Airport Fuel Hydrant Installation (CAFHI), the private company formed to supply fuel and oil products to the aviation Industry at the Changl International Airport, will begin laying the pipelines that will make up its main hydrant network next month. CAFHI's chairman, Mr.
    367 words
  • Article
    Official opening of Thai tourist office
    119 11 THAILAND'S first tourist office in South-east Asia will be inaugurated this Friday at a reception to be hosted by the Thai Ambassador to Singapore, Mr. Jetn Sucharltkul. The ambassador will take the place of Mr. Duslt Slriwan, the minister attached to the Thai Prime
    119 words
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  • Article
    Lock icon Japanese exports at a new high
    389 12 Reuter TOKYO, Wed. Japan's booming export drive reached fresh heights today when the government announced a record monthly visible trade surplus of U552,050 million (Sss billion) for July. The preliminary figure announced by the Finance Ministry showed a sharp Increase from a $1,480 million
    Reuter  -  389 words
  • Article
    Lock icon VW's Beetles bow out in US
    468 12 AP DETROIT, Wed. Volkswagen is withdrawing its famous "Beetle," from the US car market after 28 years. The Beetle sedan, the most successful import in American history, with sales of about five million, has become a victim of rising prices that have resulted in
    AP  -  468 words
  • Article
    Lock icon IMP approves Manila credit limit change
    190 12 Reuter MANILA, Wed. Philippine Finance Secretary Cesar Virata said the International Monetary Fund (IMF) approved the country's request to restructure Its 1977 credit programme. The approval fives the Philippines more leeway in raising new foreign loans with maturities ranging from one to 10 years,
    Reuter  -  190 words
  • Article
    Antidumping
    53 12 TORONTO, Wed. The federal government placed an antidumping duty on bicycles and bicycle parts Imported from Taiwan and South Korea, the Canadian Bicycle Manufacturers' Association said. An association spokesman said an inquiry by the Department of National Revenue found that bicycles. frames, forks, steel handlebars and wheels were being
    53 words
  • Article
    Water sports complex to open before year-end
    579 12 DIFFERENCES of opinions between the directors of Jurona Watersports Complex Pte. Ltd. appear to have been sorted out. Work on their 94-mllllon-plus project In Jurong, which will be Singapore's second aquatic centre, is expected to resume at the end of this month. The
    579 words
  • Article
    Exxon starts drilling
    94 12 KUALA LUMPUR, Wed. Exxon Production Malaysia has begun sinking its first production well from Its platform In the Pulal field off Trengganu though the oil will only start flowing from early next year. Drilling activity on the first well begun on Aug 9 after the platform was
    94 words
  • Article
    Lock icon Yawning trade gap is focus of Fukuda-Marcos talks
    706 12 Reuter MANILA, Wed. Japanese Prime Minister Takeo Fukuda flew In from Bangkok today on the last leg of a slx-natlon Southeast Asian tour to a colourful welcome and serious discussions about an Increasing trade gap. Alongside headlines reporting his arrival, one Manila
    Reuter  -  706 words
  • Article
    LONDON STOCKS
    767 12 LONDON, Wed. Government bonds were firm today on market speculation of a further reduction In the UK minimum lending rate and the continuing strength of sterling. Government bonds closed up to H firmer among shorts and around ft to higher among long dated stock after slipping back temporarily
    767 words
  • Article
    Lock icon Insider trading proposal
    85 12 Reuter HONGKONG, Wed. The government here Is to present proposals soon on Insider share trading on Hongkong's four stock exchanges, the AttorneyGeneral said today. Mr. John Hobiey said: "We shall be putting proposals to the Executive Council very shortly in relation to Insider trading." Legal authorities and
    Reuter  -  85 words
  • Article
    Malaysia records $780m trade surplus in first half
    332 12 KUALA LUMPUR, Wed. Peninsular Malaysia's trade surplus for the first half of this year reached a record figure of Ms7Bl million it waa announced here today. This represents an increase of $180 million dollars over the surplus for the same period last
    332 words
  • Article
    M. Credit gets more dependent on loans
    749 12 MALAYAN Credit's latest balance sheet released by the company yesterday reflects a growing dependence on external borrowings to finance group operations. In the 12 months since Its last balance sheet In March 1976. borrowings both long and short term have Increased nearly fivefold
    749 words
  • Article
    Offer of Bandung as HQ accepted
    167 12 THE Regional Mineral Resources Development Centre (RMRDC). established in 1973 to help speed up exploration and development of potentially rich resources In the Asia and Pacific region, has accepted an Indonesian offer for Bandung to be the centre's permanent headquarters. A United Nations Escap
    167 words
  • Article
    Lock icon Australian election around the corner?
    609 12 Reuter SYDNEY, Wed. Speculation about an early Australian general election at the end of the year grew today In the wake of the Conservative Government's decision to cut personal taxes early in 1978 announced In last night's budget. But if Prime Minister Malcolm Fraser banked
    Reuter  -  609 words
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