The Business Times, 8 September 1977

Microfilm: NL9453
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, SEPTEMBER 8, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Tin price
      70 1 KUALA LUMPUR, Wed. The Bank of America expects the price of tin to rise considerably this year. It says In Its "Global Report, Tin 1977-1978" Issued in San Francisco that prices on the Penang market are likely to average US$4.lO (5510.05) per pound (0.45 kilo) Tor this year
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    • Article
      Lock icon Rupiah rate realistic
      36 1 Reuter JAKARTA, Wed. Finance Minister All Wardhana denied here today that the Indonesian currency was grossly overvalued against the US dollar and said the present official rate of 415 rupiahs, was realistic. Reuter
      Reuter  -  36 words
    • Article
      Lock icon Income tax arrears
      59 1 AFP BANGKOK, Wed. Thirty-eight senior government officials owe the Revenue Department almost 19 million baht (552.33 million) in income tax arrears, the Prime Minister's Office disclosed today. The Prime Minister's Office said the discovery was made by the two-year-old anti-corruption committee which also found that 33.29 million
      AFP  -  59 words
    • Article
      Lock icon French budget
      34 1 AP PARIS, Wed. The French Cabinet today proposed a 398 billion franc (Ssl9s billion) budget for 1978, a 12.5 per cent increase over 1977. It raises petrol, car and tobacco taxes. AP
      AP  -  34 words
    • Article
      Lock icon Malik nominated
      74 1 Reuter JAKARTA, Wed. The ruling Golkar (Functional Groups) Party today formally nominated Foreign Minister Adam Malik as chairman of the new Indonesian Parliament to be convened on Oct 1. Under the Indonesian constitution, the parliamentary chairman will automatically become the chairman of the Assembly. Some members of Parliament
      Reuter  -  74 words
    • Article
      Duty on colour photos
      43 1 KUALA LUMPUR, Wed. All processed postcard size colour photographs will be subject to an import duty of 25 per cent from tomorrow. This move to protect the Interests of local colour film laboratories was announced by the government today.
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    • Article
      Umno Youth's call
      69 1 KUALA LUMPUR, Wed. The Umno Youth executive committee today adopted a resolution calling on Bank Negara to be firm In ensuring that directives Issued to commercial banks are obeyed. Umno Youth acting-leader HaJ Suhail bin Dato Kamaruddln said efforts by the Central Bank to supervise the implementation
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    • Article
      Lock icon Dow Jones
      64 1 AP NEW YORK, Wed. The stock market edged upward again today, continuing the upswing that began a week ago. The Dow Jones average of 30 industrials rose 0.86 to 874.13 in the first half hour. Gainers outnumbered losers by about three to two. Analysts said the market's recent
      AP  -  64 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      163 1 AFTER a weak opening, the Stock Exchange of Singapore yesterday bounced back on the resumption of selective speculative support. Most of the gains, however, were marginal. The Business Times index closed 1.31 points higher at 430.94 while the Straits Times Industrial index slipped 0.31 point to 266.77.
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    • Article
      In Kuala Lumpur
      104 1 Rises Most active Sentosa $2 00 .33 Olympla 339,000 S Dredge 4.78 .10 M Weaving 187,000 Petaling 5 50 +.10 O Ceramics 127,000 Keck Seng 1.66 .06 Sim Llm 106,000 Oriental 2.46 .06 Total Turnover: 2,766,000 M Kempas 3.46 .06 Total Value: MS5.027.000M S Lumber BRaya 1.17
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  • Article, Illustration
    Just as good, if not stronger
    1001 1  -  SECOND HALF GROWTH EXPECTATIONS By JOHN TAN SINGAPORE'S economy looks poised to repeat its excellent first-half performance in the second half of this year. The three pillars of the economy, manufacturing, commerce, and storage and communications, are all growing at a rate which should
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  • Article
    US won't make concrete offers
    196 1 MANILA, Wed. The United States stressed tonight that it would be making no concrete offers to Asean in the three-day economic dialogue beginning here tomorrow but rather would be exploring how they could work together. The point was made by US Under-Secretary of State for
    196 words
  • Article
    Six-point Asean insurance programme
    675 1 ASEAN Insurance commissioners last night agreed to carry out a six-point action programme at the end of their three-day meeting here. The action plan covers: Formation of the Asean Insurance Council to promote regional cooperation at the Industry level. Undertaking an indepth study to promote greater
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  • Article
    WEARNE SHARES OFFER: 80pc TAKEN UP
    354 1 MORE than one million Wearne Brothers sham offered by the Wearne family to existing shareholders have been left with the underwriters Chartered Merchant Bankers, Jardine Fleming, Morgan, Grenfell, Morgan Guaranty, Wardley, and Baring Sanwa Multinational. Baring Sanwa, the lead manager, announced yesterday that when
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  • Article
    Car loans still on the rise
    497 1 HIRE purchase finance for motor vehicles continued to rise in the month ended July, according to figures from the Department of Statistics. At $142.6 million at the end of July, the figure marks 13 months of continuous growth and Is the highest monthly total
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      36 1 Colour TV is simply great Ovariau News TV 4 Radio Overseas Crosswords Local Co. News Overseas Stocks -P2 Commodities Transport ft -P3 Communications -P4 Features International Co. News -P5 Local 4 Overseas Local Stocks -P6 News
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      Page 1 Advertisements Column 2
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      Page 1 Advertisements Column 3
      339 1 SINTAT Rent-a-Car »Vl'Kin\MOf P'StRIA! <)\ Singapore: *****55. *****5 (Airport) Kuala Lumpur: *****6 Penang: ***** Which bank helps you come to grips with today's fast moving world? We do. Bank of America. In today's rapidly changing world situation, the successful execution of business plans calls for flexibility and fast response. Information
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  • OVERSEAS
    • Article
      Lock icon Charges against Lance stoke up pressure facing Carter
      580 2 Reuter WASHINGTON, Wed. President Carter has now come under Intense pressure over charges that his Budget Director and close friend. Mr. Bert Lance, had been guilty of activities outside the law. The White House refused to express any Judgment on evidence of
      Reuter  -  580 words
    • Article
      Lock icon AISI disputes Japanese more efficient report
      489 2 AP PITTSBURGH, Wed. The chairman of the American Iron and Steel Institute said yesterdav that the United States, largest brokerage firm was wrong to conclude that Japanese steelmakers are more cost competitive than their US counterparts. AISI chairman Edgar Speer, who also is chairman
      AP  -  489 words
    • Article
      Lock icon COLOMBIAN WORKMEN TO DEFY BAN
      134 2 Reuter BOGOTA, Wed. Leaders of Colombia's four main labour organisations called a general strike for Sept 14 to back wage demands for a blanket Increase of 30 per cent In wages, labour sources said here. The planned strike threatens a clash with the government of
      Reuter  -  134 words
    • Article
      Lock icon Bakery workers' turn to strike in London
      428 2 UPI LONDON. Wed. A wave of strikes which has already hit local and international air travel claimed the housewives' dally bread as its latest victim today. There Is no bread. Fewer planes come and go, electricity is shaky, some newspapers are missing, car
      UPI  -  428 words
    • Article
      Lock icon NO INDICATION OF A POLICY SPLIT
      329 2 Reuter WASHINGTON, Wed. A Commerce Department official said a staff report critical of factoring out oil Imports to put the US trade balance In perspective does not Indicate a split within the administration over trade policy. Treasury Secretary Michael Blumenthal and Commerce Department chief
      Reuter  -  329 words
    • Article
      Lock icon Talks on jump in Japan car sales
      272 2 Reuter TOKYO, Wed. British and Japanese motor Industry leaders are continuing talks on a surge In Japanese exports of commercial vehicles and vans to Britain. A three-man team from Britain's Society of Motor Manufacturers and Traders, led by Its president David Plastow, pointed
      Reuter  -  272 words
    • Article
      Lock icon Follow-up of London economic summit
      96 2 Reuter LONDON, Wed. Senior government officials from the seven countries which took part In the May London economic summit will hold a follow-up meeting in Washington In the week beginning Sept 26 to review performance In reaching agreed growth targets. UK officials said. The meeting
      Reuter  -  96 words
    • Article
      Lock icon Curb oven imports call
      210 2 Reuter CHICAGO, Wed. A trade association representing manufacturers of home appliances today asked President Carter to restrict Imports of Japanese-made microwave ovens. The Association of Home Appliance Manufacturers said It sent Mr. Carter an "urgent request" to limit microwave oven imports to the average number imported
      Reuter  -  210 words
    • Article
      Lock icon Constitution meet on Solomons begins
      488 2 Reuter LONDON, Wed. British and Solomon Islands ministers opened a conference here yesterday to agree on the provisions of a constitution for the Independence of the British Pacific territory. Britain alms to give the Solomon Islands, which have a population of about 200,000, Independence early
      Reuter  -  488 words
    • Article
      Lock icon Labour eyes building sector
      127 2 AFP LONDON. Wed. Partial nationalisation of the British building sector was proposed yesterday by the leftwlng dominated executive of the Labour Party. In a document to be considered at the party's annual conference a month from now the executive said the aim was greater stability In
      AFP  -  127 words
    • Article
      Lock icon Natural rubber output rise
      147 2 Reuter LONDON, Wed. World natural rubber production rose to 1.18 million tonnes In the first four months of this year from 1.12 million tonnes in the same period a year earlier and compared with 3.5 million tonnes produced In the whole of 1976, the International Rubber
      Reuter  -  147 words
    • Article
      Lock icon Alaska sues 18 oil producers
      116 2 Reuter JUNEAU, Wed. Alaska filed suit against 18 North Slope.oil producers seeking to clarify methods which they use to determine royalty payments to the state, Alaskan Governor Jay Hammond said. In a statement he said he instructed the Alaska Department of Law to begin the
      Reuter  -  116 words
    • Article
      Lock icon UK urged to go easy on North Sea oil
      241 2 UPI LONDON, Wed. The government hat been urged to consider putting i brake on North Sea oil development. It has also been asked to curb sales of natural gas to industry, according to an energy report published by the Institution of
      UPI  -  241 words
    • Article
      Lock icon Above Opec levels
      148 2 Reuter CARACAS, Wed. Venezuelan fuel oil prices remained above Opec levels following an adjustment In prices for the third quarter of this year, Venezuelan Mines and energy Minister Valentin Hernandez said. In an Interview published by the local newspaper El Naclonal, he said the current weak trend
      Reuter  -  148 words
    • Article
      Lock icon Brazilian coffee exporters in financial straits as shipments dip
      303 2 AP RIO DE JANEIRO, Wed. Brazil exported about US$55 million (*****.8 million) worth of coffee in August, down from a monthly average of $400 million during the first half of the year, official sources reported. The decline Is attributed to the
      AP  -  303 words
    • Article
      Lock icon UK money supply expanding but at slower pace
      375 3 Reuter LONDON, Wed. Banking statistics Issued today show UK money supply probably continued to expand In the month to Aug 17 but at a slower rate than that seen In the five weeks to July 20 when sterling M 3 rose 1.25
      Reuter  -  375 words
    • Article
      Lock icon Recovery won't be strong
      108 3 Reuter «_p JOHANNESBURG, Wed. The Standard Bank Investment Corp. Ltd said it foresees only a relatively shallow economic recovery In 1977 and limited growth potential In the medium term. In Its September economic review, the bank said much of the recent improvement is due to a
      Reuter  -  108 words
    • Article
      Lock icon Reflationary steps a possibility says Callaghan
      853 3 Reuter AP BLACKPOOL, Wed. British Prime Minister James Callaghan said he does not rule out the possibility of measures to stimulate the country's economy this autumn. Mr. Callaghan told the annual conference of the Trades Union Congress such measures would only be taken after
      Reuter; AP  -  853 words
    • Article
      Lock icon Car sales in high gear
      259 3 AP DETROIT, Wed. Domestic and foreign new car sales clipped along at record paces in the United States last month. The four major US car makers reported yesterday their dealers delivered 726,422 cars last month, an Increase of 14 per cent from a year ago.
      AP  -  259 words
    • Article
      Lock icon MACDONALD QUITS
      82 3 Reuter OTTAWA, Wed. Finance Minister Donald MacDonald, who announced he is leaving his post for personal and family reasons, said a new economic Initiative would be taken by the Canadian Government at the next session of Parliament scheduled to open Oct 17. While he did not elaborate on
      Reuter  -  82 words
    • Article
      Lock icon Recent strength of franc is no surprise
      142 3 Reuter ZURICH, Wed. Swiss National Bank vlce-pre-sldent Leo Schuermann said the recent strength of the franc is not surprising when set against Switzerland's low Inflation rate. During the period mld--1976 to mid-1977 Switzerland's Inflation was further than ever below that of Its major
      Reuter  -  142 words
    • Article
      Lock icon INVISIBLE EARNINGS GO UP IN UK
      120 3 Reuter LONDON, Wed. UK invisible earnings rote 31 per cent in 1976 to £1.54 billion (£l.lB billion), the Central Statistical Office said. Insurance institutions earned £606 million (£459 million) of which insurance companies contributed £173 million (£l3B million) and Lloyd's underwriters £279 million (£217
      Reuter  -  120 words
    • Article
      Lock icon US offers Japan 60pc cut in tariffs
      124 3 Reuter TOKYO, Wed. The US proposed a uniform 60 per cent cut in tariffs In discussions with Japan on accelerating the Tokyo Round of trade and tariff negotiations, Japanese Foreign Ministry sources said. However, they said Japan has called for larger reductions In
      Reuter  -  124 words
    • Article
      Lock icon Protective steps
      73 3 Reuter CHRISTCHURCH, Wed. New Zealand is to take "certain measures" from next month to protect her fisheries, pending the declaration of a 320-km management zone shortly. Defence Minister Alan McCready told a meeting of the Navy League here today that once the zone was declared New Zealand forces
      Reuter  -  73 words
    • Article
      Lock icon Halting start with 25 companies on the Board
      458 3 UPI BEIRUT, Wed. Beirut's stock market has reopened, haltingly, after a two-year shutdown forced by Lebanon's civil war. About 50 businessmen, brokers and bargainhunters filled the Exchange's temporary quarters five blocks from its shell-damaged former home in the city's commercial heart nearly
      UPI  -  458 words
    • Article
      Lock icon West Asian loan for New Zealand
      115 3 UPI WELLINGTON. Wed. The New Zealand Government will borrow USSSI.9 million (Ssl27 million), from an unnamed West Asian source. Prime Minister Robert Muldoon said yesterday. He said the government would also raise a 100 million Swiss francs (SSIO2 million) conversion loan. Mr. Muldoon said
      UPI  -  115 words
    • Article
      Lock icon Decline in indices no cause for alarm
      125 3 Reuter CHICAGO. Wed. Continental Illinois National Bank and Trust Co said there are few signs of fundamental weakness In the economy that normally precede a decline or even an extended slowdown In business activity. In Its weekly newsletter, the bank said recent declines
      Reuter  -  125 words
    • Article
      Record $52 bil
      40 3 NEW YORK, Wed. Western central bank foreign exchange gross Intervention rose to a record US$22 billion (S $52.8 billion) in May to end July from $20 billion the previous quarter. New York Federal Reserve Bank estimates show.
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      295 2 y©U ACE INVITED to the First International Exhibition of Business Equipment Services in Southeast Asia xeEK? AS\AN BUSINESS EXPO September 7, 8,9,10.1977 Hyatt Singapore Hotel Convention Centre A Rewarding Event for Business Personnel in Industry, Retailing, Wholesaling, Commerce 165 DISPLAYS... of equipment and systems for data processing, copying, word processing,
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      Page 2 Advertisements Column 2
      0 2 <*%-^/{)|.=:;{}')+!)%>,.}?--|@&
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      322 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Sept.7 at Singapore airport. Maximum Temperature 31.0° C Associated Humidity 6$ Minimum Temperature 23.1° C Associated Humidity 100 Hours of Sunshine 3.85 Rainfall in Millimetres 31.5 Rainfall for the Month 54.4 Total Rainy Days for the Month 3
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      622 3 Heavy equipment for earth moving, construction or logging projects... Singapore Equipment Services If you're in the market for heavy equipment on any project contact Singapore Equipment Services. SES was incorporated in 1972 to represent manufacturers of all types of construction machinery and to provide supporting service and spare parts facilities.
      622 words
  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      655 3 TWO-IN-ONE CROSSWORD Mi I I M 3 9 1271 128 CRYPTIC PUZZLE ACROSS 3 Character rapidly going round the bend (5) 8 No open-handed entertainer (5) 10 Where Americans turn blue on the tee (5) 11 Scottish mother figure (3) 12 Outwardly hen bird (5) 13 Somehow made out the
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  • COMPANY NEWS
    • Article
      Prima may arrest declining trend
      504 4 JUDGING from the Interim results, Prima (Flour Mills) might just be able to arrest its declining profit trend in the current year ending Dec 31. 1977. After two years on the decline, group pre-tax profit rose 25.8 per cent to $6.86 million on sales Increase
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    • COMPANY MEETINGS
    • LATEST RESULTS
      • Article
        GUTHRIE BHD
        44 4 Un- audited pre-tax loss $2.50 million ($265,000) for the first six months ended June 30 1977 Sales $101.99 million ($110.84 million). Group pre-tax loss includes extraordinary losses of $642,000 ($274,000). Company pre-tax profit $119,000 ($301,000) including extraordinary gains of $84,000 (losses. $54,000).
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      • Article
        TAIPING TEXTILES –
        22 4 TAIPING TEXTILES Unaudited pre-tax profit $573,450 ($279,161) for the first six months ended June 30, 1977. Gross sales $19.76 million ($17.72 million).
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    • Article
      Razaleigh to discuss tax woes with miners
      276 4 KUALA LUMPUR, Wed. The Malaysian Finance Minister Tengku Razaleigh Hamzah will meet a delegation from the States of Malaya Chamber of Mines on Friday to discuss taxation problems faced by the tin industry. The delegation will be led by the chamber's president, Enclk
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    • Article
      DIVIDENDS ANNOUNCED
      328 4 Current payment Ex Date Date payable Total for the year Total for previous year Berjaya Kawat Uld Malacca Selangor Properties Alexandra Holdings C. Sugars International Wood Pahang Consolidated Keck Seng Yeo Hiap Seng (Ml Ben la Ayer Hitam Tin Seacorp Kempas TaipingCon N.B. Timbers Apollo Tronoh Mines G.E.
      328 words
    • Article
      RIVERVIEW RUBBER MAKING STEADY IMPROVEMENT
      318 4 WITH generally better rubber and cocoa prices, Rlvervlew Rubber Estates continued to make steady Krogress during the first alf of the current year ending Dec. 31, 1977. However, growth has slowed down since the hefty 71 per cent rise In pre-tax profit to M 52.56
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    • Article
      PEOPLE IN BUSINESS
      100 4 CITIBANK has promoted Min Vivien Wood from assistant manager to manager and Mr. Ng Tat Pun from senior credit review officer to assistant comptroller. Mr. Warren E. Hill has been appointed regional vice president of American International Assurance Co., Ltd. for Singapore. Mr. Hill succeeded Mr. P.L.
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    • Article
      Oriental expects Jardine Estates to pick up in 1980
      560 4 PROFIT before tax and replanting expenditure at Jardine Matheson Estates, which was recently purchased by Oriental Holdings, is likely to decline in the next two years before perking up In 1980. Earnings for 1978 are expected to amount to M 51.37
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    • Article
      Sri Kinabalu appoints Everon Int'l as agent
      324 4 KUALA LUMPUR, Wed. Sri Kinabalu Sendlran Berhad, a bumlputra company, has appointed Everon International of Yokohama, as its export and Import representative and agent In Japan. According to the managing director of Sri Kinabalu, Enclk Mohammed Abdullah Ang, the contract for such a
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    • Article
      DBS sets up four offshoots
      87 4 THE Development Bank of Singapore has set up four new subsidiaries with a total authorised capital of about $2.15 million. In a letter to the Stock Exchange of Singapore, DBS says Thomson Plaza (Pte) Ltd and General Securities Trading Pte Ltd were incorporated on March
      87 words
    • Article
      Higher output lifts Premium
      229 4 PREMIUM HOLDINGS has unveiled Its best ever Interim results with an unaudited pre-tax profit of M 52.13 million for the six months ended June 30, 1977. This Jump of 526 per cent over the corresponding period of 1976 was achieved on increased production and lower replanting
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    • Article
      Lock icon ICI may give up further research
      598 4 DISAPPOINTING SALES FT LONDON, Wed. ICI may pull out of any further research into tobacco substitutes. The company is disappointed with the sales performance of NSM so far (which it developed in conjunction with Imperial Tobacco) and with the lack of government support for
      FT  -  598 words
    • Article
      CBOE
      43 4 TRADING In options on the Chicago Board Options Exchange came to 63,409 contracts on Tuesday, compared with 62,113 contracts last Friday before the holldav weekend. CBOE options closings for Sept 6 were unavailable due to communication difficulties between the exchange and Reuter.
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    • Article
      Lock icon Workers move to boost production
      151 4 Reuter TOKYO, Wed. Management and unions at Honda Motor have agreed to forego four days of holiday during the next sever weeks to Increase car and motorcycle production to meet foreign demand, the company said. Honda said that during the four days it would produce
      Reuter  -  151 words
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      1018 4 China trade... a US$2O billion goldmine Here's how you can tap it In a series of bold moves, China's new leadership has embarked on an ambitious economic development program aimed at accomplishing the modernization of the country's industry, agriculture, technology and national defence. According to senior officials interviewed in Peking,
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Japanese to participate in AAR project
      464 5 Reuter MELBOURNE. Wed. AAR said It signed agreements yesterday with Sumitomo Shojl Kalsha and Marubeni Corp for the two Japanese companies to purchase a Joint six per cent Interest in the Hail Creek coking coal project for a total of As4.B million. By diluting
      Reuter  -  464 words
    • Article
      Lock icon Kubota is top income earner
      95 5 UPI TOKYO, Wed. Kubo a leading industrial machinery maker, was the top income earner for the six-month period ended last April 30, 1977 the National Tax Administration reported. The agency put Kubota's earnings at 40,724 billion yen, largest among 108 firms with capitals of more
      UPI  -  95 words
    • Article
      Lock icon Seven-year Eurocredit
      235 5 Reuter LONDON, Wed. Mexico Is raising a seven-year Eurocredit of at least US$l billion with a probable spread of 1*« per cent over London Interbank offered rates, informed Euromarket sources said here. A management group for the loan is currently being assembled and the credit will probably go
      Reuter  -  235 words
    • Article
      Lock icon Kawasaki contract
      164 5 Reuter TOKYO. Wed. Kawasaki Heavy Industries has signed a US$9B million (***** million) contract to supply six large helicopters to Saudi Arabia and build three heliports in the West Asian country. The helicopters, to be built under a licence granted by Boeing Vertol Co. of the United States,
      Reuter  -  164 words
    • Article
      Good start for Heinz
      139 5 PITTSBURGH, Wed. H. J. Heinz co vice chairman, Mr. R. Bert Gookln said the company made net earnings of US$l9.6 million or 83 cents a share in the first quarter ended July 27, 1977 compared with $15.29 million or 64 cents previously He said the 30
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    • Article
      Lock icon Bolivia to seek aid
      112 5 Reuter LA PAZ, Wed. Bolivia will seek foreign financial assistance to set up a US$6OO million steelworks at Its large Iron ore deposits of Mutun, Bolivian Minister of Mining and Metallurgy General Alfonso Villalpando said here. In a report to a team of International Monetary Fund
      Reuter  -  112 words
    • Article
      Lock icon All-time margin trading record
      112 5 Reuter TOKYO, Wed. The Tokyo Stock Exchange said the outstanding balance of buying In margin trading on the Tokyo, Osaka and Nagoya Stock Exchanges on Sept 3 rose to an all-time record 932 billion yen, compared with the previous record of 914 billion on Jan 22.
      Reuter  -  112 words
    • Article
      Lock icon Convertible Eurobonds
      59 5 Reuter PARIS, Wed. Mitsui Real Estate Development CM's US$2O million six per cent 15-year convertible Eurobond will be Issued at par, a spokesman for co-manager Credit Lyonnals said. The bonds will be convertible into shares from Oct 1 this year at 522 yen, a premium of 7.63 per
      Reuter  -  59 words
    • Article
      Lock icon Tax-exempt bond yields down
      461 5 NYT NEW YORK. Wed. Yields on tax-exempt bonds last week dropped to their lowest levels In nearly three and a half years as Investment bankers completed offering a record US$3l billion of new state and local government securities through the first eight months of 1977. Ten-year
      NYT  -  461 words
    • Article
      Lock icon Strong first half for Dutch insurance company
      195 5 Reuter THE HAGUE, Wed. Natlonale Nederlanden NV made a profit of 86.8 million guilders In the first half of this year compared with 77.2 million guilders in the same 1976 half. Sales totalled 2.69 billion guilders, up from 2.52 billion guilders previously. It
      Reuter  -  195 words
    • Article
      Lock icon Norske acquires interest
      90 5 Reuter CALGARY, Wed Hudson's Bay OH and Gas said its wholly-owned Norske Hudbay A/S has acquired a 15 per cent Interest in Norwegian production licence 025 from Norske Hydro A/S. The 40,000 hectare licence covers block 15/3 In the Norwegian sector of the North Seas and Is
      Reuter  -  90 words
    • Article
      Lock icon Groups are dead against Hitachi TV plant set-up
      475 5 EUROPEAN COMPANIES FT LONDON, Wed. Two of the sector working parties set up as part of the UK Oovernment's industrial strategy are strongly opposing plans by Hitachi to establlsh a television manufacturing factory In the North East of England. A confidential paper
      FT  -  475 words
    • Article
      Lock icon Plan to axe workers
      101 5 Reuter PARIS, Wed. French Foreign Minister Louis De Gulrlngaud yesterday summoned the Italian Ambassador to France to discuss plans by the Italian Montedision SPA Chemical group to lay off workers at a synthetic fibre plant In eastern France, the Labour Ministry said. Labour Minister Christian Beullac
      Reuter  -  101 words
    • Article
      Lock icon US Steel lowers estimates
      221 5 Reuter PITTSBURGH, Wed. US. Steel Corp estimates 1977 Industry steel shipments of between 93 and 95 million tonnes, down from earlier projections of 95 million to 96 million tonnes, chairman Edgar Speer said following a press conference. Mr. Speer, also chairman of the American Iron and
      Reuter  -  221 words
    • Article
      Lock icon MAC refinancing closing postponed
      149 5 Reuter NEW YORK, Wed. The Municipal Assistance Corp for New York City said closing of Its US$2.6 billion refinancing has been delayed and it expects to complete it next week. MAC and Its underwriters agreed to postpone the closing, previously scheduled for today, because the Treasury
      Reuter  -  149 words
    • Article
      Lock icon Stake in BH South
      94 5 Reuter MELBOURNE, Wed. North Broken Hill Holdings said It now holds 7.11 million BH South shares, equal to 12.8 per cent of the 55.55 million 50 cent par BH South shares on Issue. A year ago, North Broken Hill held only 681,000 BH South shares, according
      Reuter  -  94 words
    • Article
      Lock icon Babcock shares
      97 5 Reuter NEW ORLEANS, Wed. J. Ray McDermott said it received Indications of tender for 9,121,903 shares of Babcock and Wilcox stock, and indicated It will accept about 52.6 per cent of the shares tendered. McDermott was the victor over United Technologies Corp in a tender fight with a
      Reuter  -  97 words
    • Article
      Lock icon World Bank to raise 450 m marks
      233 5 Reuter FRANKFURT, Wed. The World Bank Is negotiating to raise 450 million marks through a 300 million mark eight year Eurobond and a 150 million mark five year private placement, primary bond market sources said. The World Bank executive board of directors met
      Reuter  -  233 words
    • Article
      Lock icon More jobs at Chrysler plant
      82 5 Reuter LONDON, Wed. Chrysler UK manufacturing director Stanley Deason said the company expects to take on another 400 workers at its Elant at Llnwood, Scotind, by end-October and a further 100 by the end of the year. The company, which employs 8.000 at Llnwood at
      Reuter  -  82 words
    • Article
      Lock icon Richard Costain results buoyant
      233 5 Reuter LONDON, Wed. Pre-tax profit at Richard Costain jumped from £7.6 million to £11.52 million In the first half-year ended June 30, 1977. The 51 per cent rise In earnings was achieved on sales of £197 million, up 27 per cent from £155 million previously. Tax
      Reuter  -  233 words
    • Article
      54 pc profit rise for Turner
      157 5 LONDON, Wed. Though sales Increased by 27 per cent only. Turner and Newall said pre-tax profit advanced 54 per cent from £15.82 million to £24.33 million for the first halfyear ended June 30, 1977. This constitutes earnings per share of 17.19p against ll.Olp. Sales
      157 words
    • Article
      Lock icon BOC £40 million rights issue
      125 5 Reuter LONDON, Wed. BOC International said It plans to raise £40 million through a one-for-four rights issue at 64 pence per share. BOC said it Intends to raise its dividend by 16.1 per cent, paying a final of 1.795 pence to make 3.135 pence net
      Reuter  -  125 words
    • Article
      BICC sales gain
      102 5 LONDON, Wed BICC reported that pre-tax profit was up by 14 per cent at £23.83 million (£20.83 million) in the first six months ended June 30, 1977. This represents earnings per share of 6.34p compared with 4.85p previously. Sales recorded all-round increases with UK sales rising from
      102 words
    • Article
      Lock icon European Coal and Steel offer
      118 5 Reuter LONDON. Wed. The European Coal and Steel Community Is offering USSIOO million of bonds, due 1997. and $50 million of notes, due 1989. S.G. Warburg said. The coupon on the bonds is expected to be 8 3/4 per cent and on the notes 8
      Reuter  -  118 words
    • Article
      Lock icon Chieftain starts drilling
      62 5 Reuter EDMONTON, Wed. Chietain Development said it started drilling its first well in the German sector of the North Sea. The company said the exploration well is expected to reach its target depth of 2,286 metres later this month. He said the well is being drilled in
      Reuter  -  62 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      385 5 ANNOUNCEMENT A word, on computing: CAPACITY If you are a computer user, or you are about to become one STOP and COMPUTE. It's probable you would be better off with a Computer Bureau! Why? Because the Computer Bureau provides protection against peak loads. No computer user can do without this
      385 words
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  • Article
    Share Information Service
    2381 6 1977 High Low Company Last Sale +orGr'i div Div C'VT Gr'» y'ld Net P/E Vol (•000) Day High Low SECTION ONE INDUSTRIALS 154 204 116 230 88* 198* 169 224 414 171 136 172 58 212 57* 155 152 182 350 145 Ac ma Alcom Allied Choc
    2,381 words
  • Article
    Transactions in Singapore
    1546 6 BID and offer price* officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in brackets In lots of 1000 units unlets otherwise specified All Time Settlement Contracts are quoted after the word Sett." Big Board
    1,546 words
  • Article
    In Kuala Lumpur
    1706 6 BID And offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yestenjay with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified.. INDUSTRIAL* Aetna <1.488). Ajinamota {2MB 2.128). Alcam <1 868) (1) 1 86
    1,706 words
  • Article
    Stock options
    46 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. Inchcape (March <2.40) (0.20B) Wearne (Dec J3.00) (0.10B) March (13.00) (0.15B)
    46 words
  • Article
    Unit trusts
    150 6 SINGAPORE UNIT TRUST INCOME BOND UNIT Mut|fln prlo) for Sept 8) (Curreat pi rices) The Commerce 1.75 1.85 INCOME BOND 1.07 1.13 The Savlnc Fund 1.03 1.09 S'pore Prof Fund 0 88 0.93 MARA BUMIPUTRA FUND 8 pore Security (Maaacart' prioaa far Sept 8) Fund 1.54 l «3xd
    150 words
  • Article
    CORPORATE BONDS
    171 6 B O T 8 1/2% 1981 (100,000) (103*B 104'<S) BO T 8 1/2% 1981 (50.000) (1) 103% B O T 7 5/8% 1984 (100,000) (99%8 99%5) LTCB J 1982 (100.000)(98*B 98 %S) Credit Lyonnais Floating 1983 (100.000) <98'»B 98HS) DBS Converts 6 1/2% 1991 (100.000) (97*8 98*S) D
    171 words
  • Article
    GOVERNMENT BONDS
    129 6 Rep Spore D Mark 7% 1982 (100.000) (1018 101HS) Rep Spore 6 1/2% 1983 (100.000) (99%8 100' iS) Rep Spore 7 3/4% 1987 (100.000) (100 SB 101 '*S) 5 1/2% 1/12/77 (250.000) (100.418 100.51S) STF 1/3/78 250.000) (101.478 101 575) 5 1/2% 1/4/78 (250,000) (101.068 101.21S) 5 1/2%
    129 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business limes 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
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  • Article, Illustration
    SES TENDS HIGHER
    506 7 AFTER a weak opening, the Stock Exchange of Singapore yesterday bounced back on the resumption of speculative support- in some of the long dormant counters. The buying was evident only during the afternoon session when most of the earlier losses were reversed. On balance, the market finished
    506 words
  • Article
    TRADING RULES DULL
    458 7 THE Kuala Lumpur Stock Exchange yesterday closed on a barely steady note with operators still hesistant to deal. The market opened on a cautious note with transactions few and far between. The morning session closed dull. Trading however, picked up slightly in the afternoon which saw better
    458 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      392 7 HONGKONG: The market closed easier on Wednesday, in fairly quiet trading, on profittaking, dealers said. The Hang Seng Index was down 3.36 points to close at 427.74. Hongkong Bank and Hongkong Land fell 10 each to HKSI7 90 and $6 80 respectively. Jardine Matheson fell 40 to $14.50, and
      392 words
    • Article
      Tokyo
      489 7 TOKYO: Share prices closed slightly higher on Wednesday as interest revived in some populars. dealers said. The Dow Jones average gained 9.54 to close at 5.280.31 with volume 330 million shares. The New Index closed at 390.01, down 0.09. Honda Motor led the recovery of its plans to forego
      489 words
    • Article
      Sydney
      448 7 SYDNEY: The market firmed on Wednesday In very active trading on expectations of lower interest rates and easing of banks' reserve requirements, dealers said. The Sydney All-Ordinaries index rose 7.68 points to close at 442 36 The Wales rose A 24 cents. The National eight to $2 85. the
      448 words
    • Article
      Manila
      157 7 MANILA: The market again closed firmer across-the-board on Wednesday, with turnover rising sharply to 13.13 million pesos from Tuesday's 6.93 million, dealers said. Lepanto rose three points while Marinduque was up by one. Atlas and Phiiex, however, lost one point each. In oils. Podco gained three points while Oriental
      157 words
    • Article
      Bangkok
      105 7 SEPT 07 Bah is Asia Fibre 181 -10 Bangkok Bank 387 unch Bangkok Invest 260S -2 Bangkok-Metro-politan Bank Bata 680 ♦5 BerllJucker 444 unch Charoong Thai Wire 180S Dumex Dusit Thani 230 Faber Merlin First Trust 180S -2 Indo-Thai Industrial Finance Corp 13C5S unch J And J Ho 274
      105 words
    • Article
      Amsterdam
      318 7 AMSTERDAM: The market was steady in quiet trading on Tuesday. with Dutch Internationals higher on balance although Hoogovens and Philips both fell 0.10 guilders. Elsewhere, shippings fell although KLM firmed Banks, insurances and most trading and Industrial stocks rose. Bijenkorf and Pakhoed. however, fell 1.50 and one guilder respectively
      318 words
    • Article
      Brussels
      155 7 BRUSSELS: Belgian shares mostly fell In active trading on Tuesday, bourse sources said Hoboken and Tab*cofin* rose, but Aiturienne. Vif lie MonUgne. Clabecq. Hainaut-Sambre, Wagona-Liti, St-Roch. Arbed and Societe Generate all fell. In foreign stocks, UK and German firmed. Dutch and US were steady, and French mostly fell. Gold
      155 words
    • Article
      Frankfurt
      324 7 FRANKFURT: Shares continued to firm on domestic and foreign Institutional buying, with Interest seen especially for steel shares, bourse sources said on Tuesday In steels. Manneamann added 3.50 marks. Daimler led autos with a three-mark rise and banks gained at most two Major chemicals were little changed and Scheriag,
      324 words
    • Article
      Milan
      254 7 MILAN: Stocks closed mixed on Tuesday, with a lower bias, with the market still Influenced by selling pressure following the abolition of the 90 per cent deposit requirement on forward Share sales, bourse sources said Montefibre shares were sharply lower and Montedison shares weaker The group Is facing financial
      254 words
    • Article
      Paris
      362 7 PARIS: All sectors on Tuesday, fell on balance following speculation that the French budget, details scheduled for release yesterday, will Include special taxes on financial Institutions. dealers said. Stores, banks and electrlcals lost ground heavily although small. Isolated gains were made In some sectors. Among forelgns, oils, Germans, golds
      362 words
    • Article
      Zurich
      293 7 ZURICH: The market firmed In active trading on Tuesday, with Bally and Oerlikon-Buehrle sharply higher, dealers said. In transportations, both Swiaaair continued higher. Among slightly higher major banks. Bankgeaellachaft bearer and registered closed actively harder. Insurances followed the general trend. In leading Industrials. Fiacher rose on good demand. BBC
      293 words
    • Article
      Jo'burg
      371 7 JOHANNESBURG: Gold shares firmed on Tuesday with both local and overseas interest seen, dealers said. Financial minings followed producers up. Elsewhere. De Beers maintained an earlier four-cent gain to close at 517. Copper share Messina featured at 15-cent rise to 235, while platinums were quiet and little changed. i.P,
      371 words
    • Article
      Toronto
      341 7 TORONTO: The market, which stalled In mid-afternoon activity on Tuesday, resumed Its advance to close moderately higher In fairly busy trading The composite Index was up more than two points and advances outpaced declines 213 to 176 Real estate and pipelines were up sharply. Donlee Manufacturing Jumped 1 1/2
      341 words
    • Article
      New York
      1133 7 NEW YORK The stock market advanced for the fourth straight session on Tuesday, after resisting some mld-sesslon weakness, but trading volume remained sluggish. Analysts attributed the turnaround to healthy August sales increases by the nation's big three car makers, with General Motors reporting a nearly 22 per cent
      1,133 words
    • Article
      Indices
      67 7 FINANCIAL TIMES INDUSTRIALS Tuesday 525.8 Monday 519.5 Week Ago 490 9 DOW JONES AVERAGE INDUSTRIALS Tuesday 873.27 Monday 872.31 Week Ago 858 89 LONDON DOLLAR PREMIUM Tuesday 88*« to 89% Monday 88S to 89'% H.K. HANG SENG Tuesday 431.10 Monday 433.73 Week Ago 430 22 SYDNEY INDUSTRIALS Tuesday 384
      67 words
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      Page 7 Advertisements Column 1
      516 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airlines 110-112 Show Contra, Orchard Road, Singapore 9 (Tel: 377.111) Air Caylon 302-B, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tel: *****88) Ground. Floor, ICS Building, Shenton Way Singapore 1 (Tel: *****11) Air India 16th Floor, UIC Building, Shenton Way, Singapore 1 (Tel:
      516 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      425 8 ON THE Singapore rubber market yesterday, opening quotations were marked up about two cents following steadier London advices, but thereafter prices fell back on lack of followthrough buying and profittaking in quiet trading, dealers said. Turnover was small. Forwards and physicals were neglected. The morning
      425 words
    • Article
      RAS PRICES
      355 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 213.75 214.75N 212.50 213.50 Int 1 R.S.S September 214.75 215 25 213.50 214 00 Int. 1 R.S.S October 216 00 216.25 214.75 215.25 Int. 2
      355 words
    • Article
      SSR AND SMR
      112 8 NOON SSR and SMR prices yesterday: September October R.A.S. (CurrentMthi (ForwardMth) Buyer* Sellers Buyers Sellers (cents per k<> (a ntsperkg) SSR 20 (1-ton pallet) 207 00 209.00S 207.50 209 50S SSR 50 (1-ton pallet) 205 00 207.00S 205.50 207 50S MRELB October N« rv ember SMR5CV (1-ton
      112 words
    • Article
      Closing prices
      30 8 Rubber: Sept 7 Singapore: September 213.50 cents (down 0.75 cent) Malaysia: October 215.25 cents (down 1 cent) Tin: $1,611 (up (31) Official offering: 195 tonnes (down 26 tonnes)
      30 words
    • Article
      Rice
      199 8 BANGKOK, Wed. Indicative prices quoted here today were unchanged from yesterday: (Prices in US dollars per tonne fob basis Bangkok) White Rice: 100 pet Ist class 308, 100 pet 2nd 292. 100 pet 3rd 288, 5 pet 277, 10 pet 255, 15 pet 252, 20 pet 249, 25 pet
      199 words
    • Article
      Duty rates
      65 8 The Malaysian Minister of Finance has fixed these rates for the period from Sept 8 until further notice. Rubber: 91 3/4 cents a pound. Copra: $768.00 a ton. Palm Kernel: $235.25 a ton. The rates of duties payable are: Rubber: 11 cents a pound. (Total 16 1/2 cents)
      65 words
    • Article
      Produce exchange
      347 8 PRICES finished mixed on the Singapore produce market yesterday. For most commodities, turnovers were minimal and confined to local book-squarrlng account. Coffee bean prices eased In sympathy with the overnight London terminal market which again reported scant roaster buying. Spot coffee was particularly weak under the Influence of
      347 words
    • Article
      Coffee
      349 8 LONDON, Wed. Coffee opened £12 to £36 lower as expected. Volume totalled 268 lots, well up from yesterday's 86 at the opening. Initial commission house selling in sympathy with the easier close in New York overnight weakened prices. Trade Interest were on both sides of the market, ending as
      349 words
    • Article
      Palm oil
      77 8 C.I.F. Rotterdam. US dollars per ton. LONDON Tuesday Previous Malaysia 5% ffa bulk: Nov 443 sir 433 Sir Sumatra 5% Sept 505/512 pd 510 sir Oct 460/467.50 pd 465 slr/460 pd Nov 447 50 pd 450 sir Dec 445 pd 445 sir Jan 422 50 pd 422 50
      77 words
    • Article
      Cocoa
      254 8 LONDON. Wed. Cocoa futures lost £33.50 (spot September at £2,667.50) to L' 7.50 per tonne against New York at the first call and continued to ease In thinly dealt open trading. The spot September/ near December differential narrowed again to£29ocompared with £304.50 last night. Dealers said the prospect of
      254 words
    • Article
      Straits tin
      261 8 THE STRAITS tin price in Penang yesterday was up Ms3l to $1,611 per plcul on an official offering down 26 tonnes to 195 tonnes. In LONDON yesterday, tin fell by £45 for cash and £35 for Three Months standard while high grade lost £57 and £35 respectively. The
      261 words
    • Article
      Sugar
      304 8 LONDON, Wed. Sugar futures were down at the opening call by £1.15 (near December at £155.55) to C 0.35 per tonne but made up modest ground In subsequent dealings on jobber shortcovering. Traders said the Initial decline followed on from overnight easiness both here and in New York with
      304 words
    • Article
      Hongkong comex
      289 8 HONGKONG, Wed. Cotton futures closed mixed In active trading, .after a slightly easier opening, dealers said. Trading was mainly confined to straddle transaction between March and July, with commission house Jobber trade selling towards the close, while trade house buying throughout the session restricted losses, they said. October
      289 words
    • Article
      Soybeans
      146 8 CHICAGO, Wed. Soybean futures yesterday recovered earlier losses late In the session and closed at the day's highs. The loss In the September was cut to 1 ft cents a bushel while other months registered gains of OK to four cents. Less-than-expected weekend moisture and an easier tone to
      146 words
    • Article
      Wheat
      73 8 CHICAGO, wed. Wheat futures yesterday extended earlier gains to close at the session highs with price 4* to 3K cents a bushel above last Friday's close. Commission house buying supported the market through the session and the advances were extended as prices reached stop-loss buy orders. Commercials were buyers
      73 words
    • Article
      Copper
      310 8 LONDON. Wed. Copper wlrebars lost £1.50 per tonne per cash and £1 for Three Months. Values were steady on the early pre-market In sympathy with the closing New York tone, although modest liquidation was subsequently prompted by the trends in gold and silver which put the market on the
      310 words
    • Article
      Silver
      216 8 LONDON, Wed. Silver eased by 1.0 to 1.2 pence per troy ounce. The easier close at New York and the unsettled gold price this morning encouraged small-scale liquidation which produced Three Months trading down to 261.2 pence In the ring and 260.8 pence on the kerb. Sales were only
      216 words
    • Article
      Gold
      335 8 THE KILOBAR in Singapore yesterday opened lower at 5511,645 following a weak close In New York. The price turned firmer later with slight fluctuation and closed at S$ 11,676. On the London market, the metal opened at U*****.00/20 and closed at U*****.20/60. The London morning fix was U*****.85. down
      335 words
    • Article
      Zinc
      100 8 LONDON, Wed. Zinc lost £1 per tonne all round. Early steadiness reflected the Initial general trend with Three Months trading at the outset of the premarket at £316. The subsequent turnround in copper found renewed hedging operations over hanging the market and Three Months finished the kerb at £313
      100 words
    • Article
      Lead
      86 8 LONDON, Wed. Lead closed the morning with gains of for cash and £0.50 for Three Months. The pre-market decline In copper brought out liquidation and some chart selling around the £333 level for Three Months which pushed the position down to £330 before trade buying mostly erased losses. Influential
      86 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        562 8 OVERNIGHT funds on the Singapore local money market yesterday became much cheaper, reportedly because It was the last day of the banking week. Funds opened at the 4Vi to four per cent level but rapidly weakened in morning trading to four per cent. The clearing hours saw a further
        562 words
      • Article
        Minimum lending rates
        51 8 ACBC l 4 Kirat Chicago 6H Algemene Bank Bangkok Bank 7 itibank HSBC 6*4 6H Bank of America H Indoauez 6*4 7 6*« Bank of Tokyo 6'< Bank Negara OCBC 6*4 Indonesia 7 OUB 6*. Chartered Bank 6». UCB 7 6 l UMBC 7 DBS 6H UOB
        51 words
      • Article
        Asian $ rate?
        149 8 Asian rate? ASIAN currency deposit rates u at close oil interbank (J8 Doll Offer 7 days 1 mth 2 mths 3 mths A mths mths 12 mths <3/16 5% 6Vt 8 5/18 .6* .611/16 6* S» Fn. 61/16 W 6 3/16 «S 6 9/16 6H Dm. 1 mth 3 mths
        149 words
      • Article
        Discount
        55 8 RANGE of price* offered by discount house* on Sept 7: Overnight W*to 3HM Call deposit 3S to 3W CWaiaa Buy Selling 3- Month Treasury 3 1/16 2 15/10 3- Month Bank Mils 4 3/S 4 1/4 3- Months CD 4 15/18 4 11/16 •-Months CD 5 1/16 4 15/16
        55 words
      • Article
        Euro $ rates
        163 8 Euro rates LONDON, Wed. Eurodollar deposit rates were largely unchanged In light early trading, dealers said. Near period rates opened up to 3/8 easier because of the Friday dealing technicality although the Three Months rate held steady at 0 5/16, fl 3/18 on the Friday end-of-perlod technicality. Rollover business and
        163 words
      • Article
        Treasury bills
        39 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 Sept 12 to 14. Each tender must not be less than $250,000
        39 words
      • Article
        New York
        151 8 NEW YORK, Wed. The US dollar yesterday closed slightly lower against major currencies in very quiet post-holiday trading, dealers said. The Canadian dollar proved the most active feature of the day, falling at one point to 92.96/98 US cents from the opening 93.14/17 cents following news of the
        151 words
      • Article
        London
        227 8 LONDON, Wed. Sterling advanced to around U551.7425/27 from 1.7413/15 overnight as the dollar showed a generally easier trend in line with the New York close, dealers said. Technical factors and some light buying demand also pushed the pound higher although its opening effective index against a basket of currencies
        227 words
      • Article
        Tokyo
        106 8 TOKYO, Wed. The US dollar for overnight delivery closed slightly lower at 267.47 yen, after a 267.50 opening and 267.70 at yesterday's close. After opening lower, the dollar dipped on selling by foreign banks to buy yen for Asian centres, reflecting an overnight easiness in New York, dealers said.
        106 words
      • Article
        Hongkong
        109 8 HONGKONG, Wed. The US dollar firmed slightly to DM2.3228/38 In quiet featureless trading from Its New York midpoint close of 2.3223 after opening lower at 2.3215/25, dealers said. The US unit eased to 267.40/50 yen from its New York closing midpoint of 267.52 after recovering slightly from Its 267.35/45
        109 words
      • Article
        Zurich
        56 8 ZURICH exchanges closing quotes on Sept 8: US 2.3940-3948 UK 4 1705-1725 Can 2 2275-2296 W Oerm 103 08-16 Neth 97 54-82 France 48 70-73 Belt 6 70-1/4-71 Denm 38 78-81 Nor* 43 89-90 Swed 49 19-22 Italy 0 2710-2713 AuiLrl* 14 47-46 Port 5.80-93 Spain 2 83-83-1/2 Arf
        56 words
      • Article
        Australia/NZ
        58 8 AUSTRALIA/NZ exchanges on Sept. 7: Australia: Sterllnc 0 6368/0 8301 US dollar 1 1058/1 1008 Ninety-day air mall buying rate* Sterllnc 0 8524 US dollar ***** Ninety-day forward buying rate* Sterling MM US dollar 1 0048 New Zealand Sterllnc 0 5587/0 5538 U8 dollar 0 9740/0 9640 Ninety-day forward
        58 words
      • Article
        Frankfurt
        42 8 FRANKFURT exchanges closing quotes on Sept 7: U8 2.3197/3207 Can 2 1805/25 UK 4 042/062 Neth 94 58/88 SwlU 98 97/97.07 Italy 2 829/639 France 47 20/30 Nor* 42 55/65 Belg (com) 6 494/504 Beig (fin) 6 49/50 Japan 0 8680/90
        42 words
      • Article
        Eurobonds
        313 8 LONDON, Wed. Straight Eurobonds traded mostly steady in quiet conditions, dealers said. Straight* Bid Offer Austria 8V. 90 102* 102% Bell Canada 8*. 86 104'* 105S BFCE 8*4 83 102V. 102% Brazil 9V. M 99% 99% Can Pacific 9* 83 101% 101% Credit National 84M 100'•a 101 ECSC983 103
        313 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      164 8 Don't let the language barrier stop you from wider contacts I r" <vj Y 4 W i b >4 te3 T *V\,V [A s°°^e^ G G e a^° S^ e 3 °J^ X SoV L»'MH«i7j Or YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travel- I ling
      164 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      World's largest hopper dredge
      366 9 THE "Manhattan Island", built by Southern Shipbuilding Corporation at Louisiana, is an American Bureau of Shipping (ABS) classed vessel that splits apart to dispose as much as 2,750 cubic metres of material in seconds. The 3,300-ton self-pro-pelled hopper dredge Is the largest of its kind In
      366 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      137 9 AP LONDONiWed. As usual after a US holiday, little new business came to light on the London freight market yesterday. Therefore, no change in market tone could be detected, and Immediate prospects will largely depend on the development of grain enquiry. Single-voyage interest comprised little more than
      AP  -  137 words
    • Article
      IN PORT
      400 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Baltik (1500 after Stolt Spur) 15/16 Clifford Maersk (after Talabot) 3/4 Kimanls (1600 tide after Lumut) 20 King Sun (0600 22 Palm Sea Horse (Tanker) (1700 after Stolt Spur P/O) 14 Perils (1400 after Tapah Perak) 21 East Sing Tao (9VXS) (0600 after
      400 words
    • Article
      Two new berths to be added to PSA terminal
      548 9 By JOHN TAN TWO more berths will be added to the container terminal operated by the Port of Singapore Authority, because the wide acceptance of container usage had led to demand for more facilities. Five years after starting operation, the terminal
      548 words
    • Article
      Showa Line
      220 9 SHOWA Line Is one of the six biggest Japanese shipping companies. It owns and operates a diversified fleet of huge ore carriers, specialised carriers, tankers, tramps and liners, aggregating more than 5.5 million dwt. Showa Line's Pacific South West Line and Pacific North West Line provide two sailings
      220 words
    • Article
      Lock icon Imports capture over half of UK car mart
      316 9 Reuter LONDON, Wed. For the first time ever, foreign car makers last month took more than half of Britain's new car sales, dealing a demoralising blow to the British Industry. State-owned British Leyland, the biggest British car maker, said its sales were
      Reuter  -  316 words
    • Article
      Lock icon Record performance
      77 9 Reuter DETROIT, Wed. The US car Industry reported record sales for the final third of August and for the full month a stronger performance than some analysts had estimated. The firms reported the daily selling rate totalled 30,194 in the August 21-31 period, up 24 per cent on
      Reuter  -  77 words
    • Article
      Lock icon Greek shipping heading for troubled waters
      754 9 UPI ATHENS, Wed. The Greek shipping industry, the world's largest, maj> be sailing into economically troubled waters. Merchant Marine Minister Alexandros Papadongonas says flag discrimination. cut-throat competition and a proliferation of new regulations are giving the industry problems. "Closed shipping conferences and state-owned shipping
      UPI  -  754 words
    • Article
      Team expects success in US air talks
      259 9 SINGAPORE'S civil aviation team for the seventh round of talks with the US Is optimistic of success In the negotiations opening in Washington on Sept. 19. "We hope," a spokesman said, "to reach agreement on terms which are acceptable to both sides. The
      259 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      561 9 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKO MAS MH682 0810 KCH CPA CX710 1000 HLP OIA GA980 1030 HLP SIA SQ211 1045 HLP GIA GA944 1055 PKU OIA OA908 1100 MES PAL PR501 1115 MNL RBA BI325 1155 BWN SIA SQ240 1210 MES
      561 words
    • Article
      CPA INSTALS NEW SYSTEM
      126 9 CATHAY Pacific Airways (CPA) has Installed a new computer-based departure control system, which costs about $2 million, at the new check-In desks In the extended departure hall at Hongkong's Kal Tak Airport. The system began operation last week. The new check-in area represents a major Improvement
      126 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      111 9 I^SINC .Oil SINGAPORE iness SINGAPORE Wff S3OO SSU co«*u N cfcT,OHS ,'j# >-SvsS»*~ u i9e p«oP€« Ty 1 r UF€ MTHITOP ■Mfc TWtMO 3 e^' 't££sS£~ STOCK SUP<»U«« mT W&mSMSmo£m. incorporating S.ngapore Trade HIGHLIGHTS OF OUR AUGUST ISSUE: PLASTICS BOUNCE BACK The plastics industry is surging ahead of past growth
      111 words
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  • Article, Illustration
    Lock icon The big five leaders of a new China
    1752 10  -  By YVONNE PRESTON FT CHINA AND Its 900 million people have been set on a road Intended to lead to greater economic prosperity. Revolutionary fanaticism and ideological struggles which repeatedly set back any Improvement to the chronically low living standards have been
    FT  -  1,752 words
  • Article
    Lock icon Toothache for Britain's confectionery industry
    999 10  -  THE British are among the world champions in both making and eating sugarysweets. But export prospects are looking less palatable than they did last year, not only because costs have gone up, but because of European Common Market regulations and that is the part that
    FT  -  999 words
  • Article
    Lock icon Tea houses a way of life in HK
    502 10  -  By ONG MING SEING Reuter HONGKONG: There Is one Chinese tradition which has survived Western Influence In this British colony the tea-drlnklng habit of the Cantonese population. "Yum Cha", Cantonese for tea-drlnklng Is an ageold family custom and plays an Important social
    Reuter  -  502 words
  • Article
    The Pacific islands look to Asean
    1031 10  -  By ANTHONY HAAS THE Asian connection Is of growing interest to the Pacific. The South Pacific Forum countries .want to open a dialogue with Asean, and to hasten the Pacific orientation of a number of International organisations started for Asia, but which are now
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      431 10 THESE ARE THE BOOKS THAT HITLER BURNED S3 I K S *f3 m v li8::l Mm 1 Lki i -1 3 rwSa a 52 j"* 8 1 a a a e, i sal a r„ u y p f If! 7 '>///•. *l*i' ■*s «a i i« rti i /'Uo
      431 words
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  • Article
    Lock icon US Chinese to set up several Taiwan projects
    555 11 AFP TAIPEH, Wed. A group of Chinese from the United States has been here to study the feasibility of a series of Investment projects in Taiwan. They Include a 200-room tourist hotel, costing US$l7 million (Ss4o million). It is planned that 40
    AFP  -  555 words
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    Lock icon Technology gap: HK may lose its edge
    358 11 AFP HONGKONG, Wed. The rapid technological advance made by manufacturers In Taiwan and South Korea Is threatening Hongkong's second largest Industry, electronics. Giving this warning the executive director of the Federation of Hongkong Industries, Mr. Cecil Chan, said that the narrowing of the
    AFP  -  358 words
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    China team to study KL rubber industry
    96 11 KUALA LUMPUR, Wed. Six Malaysian officials will leave here tomorrow for a two-week visit to Vietnam where they will help Identify problems of the Vietnamese rubber industry, It was announced here today. Meanwhile, China Is to send a mission to Malaysia to study
    96 words
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    Lock icon Pakistan, India step up air trade
    132 11 AFP KARACHI, Wed. Pakistan and India have taken another atep toward* normalisation of their relations by resuming mutual trade through their airlines, it was learnt here today. Refrigerators and spare parta of air-conditioners manufactured in India have started reaching Karachi following mutual arrangements between
    AFP  -  132 words
  • Article
    W. German mart ripe for local electronic goods
    447 11 SINGAPORE manufacturers of consumer electronics goods would do well to look towards the West German market now If they want to cash In on a boom which could last for many years. Sales of colour television sets there are currently booming and
    447 words
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    KL plans to start a commercial crime team
    262 11 KUALA LUMPUR, Wed. The Registry of Companies is to set up a commercial crime division as soon as possible, the Deputy Trade and Industry Minister Datuk Mohamed Rahmat said today. This is because such crimes are becoming more sophisticated. The set-up of
    262 words
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      119 11 CORPORATE ANNOUNCEMENTS CARRY MORE WEIGHT IN BUSINESS TIMES U 3 affflV wjr* cf^ w QC- j>t i Ct** W ISSIWEWMTO TNIMJTMOMTS *SuJ^""OIMU j'w rnZC^"'"" <~.-* •v fl •rz* > z^*r& *^!SS!iSSSS2" t A—i» »WT t% if. V% V°° *.v Because Business Times is read by the top people in business
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    Industries must pull their weight in skills training
    540 12 INDUSTRIES In Singapore should not Just wait for government efforts to provide them with the ready-made skilled manpower they need, or crimp from each other, said Dr. Ahmad Mattar, Minister of State for Social Affairs and chairman of the Industrial Training Board.
    540 words
  • Article
    Average award for injured workers is 13 pc higher
    360 12 THE average amount of workmen's compensation awards is getting higher. For the first six months of this year, the average award per case was running 13 per cent higher than for the comparable period last year. According to the halfyearly report
    360 words
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    Lock icon Americans at the end of their tether
    393 12 UPI TOKYO. Wed. There Is a "growing Intolerance" in the United States over problems about trade with Japan. President Carter's deputy special trade representative, Mr. Alan Wolff, warned today. "There is a widespread feeling that there is great difficulty in shipping goods into
    UPI  -  393 words
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    Lock icon TUC agrees to accept 12-month rule
    125 12 Reuter BLACKPOOL, Wed. Britain's 11 million strong Trades Union Congress today agreed to wait 12 months between pay claims, stiffening the Labour Government's fight against inflation. But the vote here was far from unanimous and some unions may Ignore the "12month rule" in seeking
    Reuter  -  125 words
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    Lock icon Draft code of conduct
    52 12 Reuter BRUSSELS, Wed. Top officials of the nine EEC member states meeting here have agreed on the major lines of a draft code of conduct of community companies operating in South Africa, informed sources said yesterday. EEC companies, particularly British ones, have considerable Investments in South
    Reuter  -  52 words
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    More for middle income home buyers to choose
    647 12 FRESH competition entered the middle Income housing market yesterday when Ocean and Capital Properties unveiled Its sales campaign for Sherwood Towers, whose apartments In price and quality promise to give those units put up by the Housing and Urban Development Corporation a
    647 words
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    Lock icon Japanese plan to step up coal use
    385 12 AFP TOKYO, Wed. Japan Is energetically pushing a plan to increase imports of steaming coal in order to correct Its heavy dependence on petroleum for energy. Government sources said today that the Ministry of International Trade and Industry (Mltl) plans to establish a
    AFP  -  385 words
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    Lock icon Union proposal rejected
    208 12 UPI CANBERRA, Wed. A trade union proposal for a national referendum on uranium mining and export was rejected today by Prime Minister Malcolm Fraser. Earlier, the President of the Australian Council of Trade Union (ACTU), Mr. Bob Hawke, called a news conference in Canberra to urge the
    UPI  -  208 words
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    LONDON STOCKS
    783 12 LONDON, Wed. Government bonds continued to advance with high coupon issues showing net gains of around 1 fc points In active buying Interest, dealers said. Shorts gained upto 3/4 point 3n hopes of a cut In minimum lending rate on Friday and continued opUmlsm the Trades Union Congress
    783 words
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    Lock icon Marcos urges private sector to join in
    159 12 Reuter MANILA. Wed. President Ferdinand Marcos today called on the private sector In member countries of Asean to Join efforts to help break down trade barriers of Industrialised nations. He also urged private business to establish a regional trade network for the efficient
    Reuter  -  159 words
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    Lock icon Kyoto meeting to discuss Asean investment
    227 12 Reuter TOKYO, Wed. Government officials from Japan and Asean will meet in Kyoto next month to duscuss future Japanese Investment In Asean, It was announced here today. The South-east Asian Promotion Centre for Trade, Investment and Tourism said the three-day conference, starting in the
    Reuter  -  227 words
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    BoA: MORE LOCAL EXECS IN CHARGE
    102 12 ALL GROUPS Involved In the areas of credit and business development at the Singapore branch of the Bank of America are now headed by local executives. This follows the promotion yesterday by Mr. Bernard Tay Chong Woo (above) from assistant vicepresident to president at
    102 words
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    Lock icon Kuwait to fund Batam refinery project?
    196 12 AFP JAKARTA, Wed. Kuwaiti Oil MinUter Abdul Muthalib A 1 Kazemi is expected nest Friday in Jakarta for visit during which he will have talks with his Indonesian counterpart, Minister of Mines Dr. Mohamed Sadli, on a possible Kuwaiti financing of an Indonesian oil
    AFP  -  196 words
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    US keen to aid Asean's economic growth
    451 12 THE US Is keen to leam from Asean countries what it can do to aid the economic progress of the region. Mr. John H. Holdrldge, US Ambassador to Singapore, said: "The US has a great economic and political stake in Southeast Asia, and
    451 words
  • Article
    Trade displays do help to sell the goods
    314 12 THE US International Marketing Center (IMC) until last month the US Regional Trade Center has released figures to demonstrate that trade exhibitions are more than Just a pretty face: they make money too The IMC figures, In the centre's quarterly bulletin this
    314 words
  • Article
    Thief-proof flats?
    36 12 THE building and development division of the Housing and Development Board (HDB) has explr.ed the possibility of evolv'.ig a new block design for fourroom HDB flats to render them less prone to Y jrglary.
    36 words
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