The Business Times, 5 August 1978

Microfilm: NL9799
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 SATURDAY, AUGUST 5, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Growth estimate
      60 1 JAKARTA, Fri. Indonesia's Industrial growth is estimated to average 13 per cent annually since the enactment of the capital Investment law* In 1968. T A Department of Industries report said with a 13.6 per cent gross domestic product growth In the latest five year plan, the value of
      60 words
    • Article
      Lock icon Banks break even
      66 1 Reuter. MANILA. Fri. Offshore banking units (OBU) operating here broke even after a year of banking activity. The Philippine central bank said the offshore banks, which began operations here only in May last year, suffered an aggregate loss of about US$l million (552.3 million) at the end
      Reuter.  -  66 words
    • Article
      Lock icon Stimulus plan
      77 1 AP. TOKYO, Fri. The Japanese government will formulate new plans to boost the economy In early September If necessary to achieve Prime Minister Takeo Fukuda's 7 per cent growth target in the current fiscal year. A senior Economic Planning Agency official said the government did not think Income
      AP.  -  77 words
    • Article
      Lock icon Asean fair
      54 1 Reuter. BANGKOK, Fri Asean will hold a trade fair In Sydney in October to promote its exports to Australia. A Thai Commerce Ministry official said over 30 manufacturers of industrial and semi-lndustrlal products from Singapore, Indonesia, Malaysia, the Philippines and Thailand will take part In the fair at
      Reuter.  -  54 words
    • Article
      Lock icon Dollar firmer
      50 1 AFP. LONDON, Fri The US dollar was marginally firmer against the Swiss franc and the yen as trading opened in quiet conditions on the London foreign exchange today. Gold lost U551,275 and was quoted at $201.35 per ounce at the morning fixing, slightly below the opening rate. AFP.
      AFP.  -  50 words
    • Article
      Lock icon Marcos cool
      45 1 AFP. MANILA, Fri. Philippine President Ferdinand Marcos said he did not expect much from the current negotiations between the United States and Asean. He said, "We have been disappointed so many times that we are not pinning our hope on this one AFP.
      AFP.  -  45 words
    • Article
      Lock icon Thorpe accused
      55 1 AP. MINEHEAD (England), Frl Jeremy Thorpe, former leader of Britain's small Liberal Party, was charged along with three other men with conspiracy to murder a male model. Police said the model, Norman Scott, has alleged he had a homosexual relationship with the 49-year-old politician, who represents the North
      AP.  -  55 words
    • Article
      Lock icon Dow Jones
      73 1 UPI NEW YORK, Frl. Stock prices turned mixed early today in active trading following the heaviest turnover in the history of the New York Stock Exchange yesterday. The Dow Jones Industrial average, which managed to hold on to a 3.38-polnt advantage today after selling pressure mounted, was ahead
      UPI  -  73 words
  • Chief Price Changes
    • Article
      In Singapore yesterday
      129 1 Rises Most octive FAN 580 +25 Harimau 598.000 Nanyanf Preu 356 16 Pan Electric 431,000 Metal Box Spore 328 14 Con* Plant 397,000 Conaplant Wrti 420 12 Haw Par 396,000 Geating* 346 12 Sime Darby 387,000 OCBC 900 10 Total Turnover: 9.98 m Strait* Trading 575 10
      129 words
    • Article, Illustration
      In Kuala Lumpur
      180 1 Rises Most active D. Keramat 11.00 FandN 5.95 N. Iron 5.20 S. Trading 5.85 O. Ropel 2.59 Matsushita 4.76 Merlin (S) 2.64 C. Sugars 3.08 Fusan 1.69 K Sldlm 2.39 East Asiatic 3.30 DBS. 4.00 C and C Ltd. 5.15 Foils Mln Sec 4.04 .30 .25 .20
      180 words
  • Article, Illustration
    US backs out of trade pledges
    859 1  -  ASEAN HACKLES UP by! John Tan AS HAD been expected, Asean and the US clashed head-on when the trade topic came up for discussion on Thursday, the first day of the two-day Asean-US ministerial meeting now on In Washington. In the afternoon session the
    859 words
  • Article
    HK property market shaken
    215 1 THE Hongkong property world was thrown into confusion when a Uttle-known real estate firm outbid the colony's giants for a prime development site sold at a Hongkong government auction. The company, Worldwide Properties Corp bid a staggering HK$5B5 million (about SS29O million) for the 3,982 sq.m.
    215 words
  • Article
    Americans go slow on textile
    529 1  -  By WANG LOOK KEAH j US IMPORTS of Singaporemade textile and garments are expected to only slightly exceed last year's total. For the first half of this year, US Imports of these products Increased dramatically but there are Indications that second half purchases will slow
    529 words
  • Article
    Relentless buying at SES
    473 1  -  By MANO SABNANI TRADING tempo continued to increase at the Stock Exchange of Singapore yesterday as institutions and big individual Investors appeared in full force and bought heavily into quality stocks. Their relentless buying throughout the day pushed the Straits Times industrial index up another 4.24
    473 words
  • Article
    UOB Group may float United Overseas Insurance soon
    243 1  -  •y PETER CHIA APPARENTLY, encouraged by the overwhelming response it evoked when floating its finance subsidiary, the United Overseas Bank group is now contemplating public participation in yet another of its satellites United Overseas Insurance. However, the premium this time is believed
    243 words
  • Article
    Citibank to raise MLR to 7¼ pc
    397 1  -  By COLIN CHEE CITIBANK will raise Its minimum lending rate by 1/4 point to 7 1/4 per cent from next Monday. This will be the second time this year that Citibank's MLR has touched this level. In January the bank, followed by three
    397 words
  • Article
    NEW URA CHIEF
    154 1 MR AU Eng Kok, manager of the building fend development division of the Housing and Development Board (HDB) will be the new general manager of Urban Redevelopment Authority (URA). He replaces Mr Alan Choe who has tendered his resignation which will take effect on Sept 21, said
    154 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      37 1 I:\vrett Lines POt TNI MOST PBIQUIMT SAILIMOS TO tAMOKOK lIONQKOHQ JAPAN MJSAN. Ivaratt tNwmWp Corpn. t/A Seaport I T«4 36, 9uoc* Vr«9 Among 30 '03 OCiC Bag T« *****/3 Port K«M AfM SOCSMI* CO «MO T« 3t7nT/>
      37 words
    • Advertisement
      Page 1 Advertisements Column 2
      96 1 XftIiNEYOUGWIE T& WW WEST. Chances are that at Pan-West we have just the right equipment to help improve your game At Pan-West we stock the finest range of top quality golfing equpment Confidence. Honma. Lynx to name a few Drop m on us and browse around Take a few practice
      96 words
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      Page 1 Advertisements Column 3
      89 1 •SEE PAGES 6 AND 12 UGMDS US Marketing Centra ikowi net million 2 SATO determined to cut daparture delay 5 LETTER from America I POT of geld at the end of tke ■rainbow SWISS franc note la a forger's METAL Bos claara air an aale of atake U ENCOURAGING nifin
      89 words
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      Page 1 Advertisements Column 4
      226 1 SINGAPORE BUSINESS The Business Magazine Leader...Page 6 Indonesia and Malaysia Thailand and the Philippines to the rescue The latest issue of the ASEAN Business Quarterly is full of interest for the businessman (or woman) who wishes to understand, in easy-to-read language, the realities of the ASEAN economies in relation to
      226 words
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  • TRADE AND INDUSTRY
    • Article
      Conoco to quit oil exploration in Malaysia
      653 2  -  By A. KADIR JASIN in Kuolo Lumpur THE MOVE by Continental OH Company (Conoco) of Malaysia and Its partners, Broken Hill Proprietary Malaysia and Erex Malaysia to relinquish their exploration rights, leaves only the big two, Shell and Esso, as the foreign operators
      653 words
    • Article, Illustration
      WIND FOR POWER
      397 2 AUSTRALIAN engineers are Investigating the potential of wind energy to provide electricity for two Island communities off the Australian mainland. They hope to harness the westerly winds which sweep through the Bass Strait, the stretch of water dividing mainland Australia from the Tasmania Island. At each end
      397 words
    • Article, Illustration
      Two shows at US marketing centre net $26m in sales
      321 2 THE COMBINED value of projected aalea over the next 12 montha of two apecialiaed trade exhibition* held at the US International Marketing Centre here in July ia 5526,578,700, according to re porta aubmitted to the US Department of Commerce. The
      321 words
    • Article
      Lock icon HK-US SHOE TALKS
      106 2 Reuter. HONGKONG'S director of trade Lawrence Mills said the government had agreed to Washington's request for talks on Hongkong's exports of non-rubber shoes to the United States. The request for talks followed what the Americans described as "orderly marketing" agreements with South Korea and Taiwan, which have
      Reuter.  -  106 words
    • Article
      Lock icon Baskets of rice
      67 2 Reuter BURMA Is expected to produce 480 million baskets, or 10 million tonnes, of padl In 1978-79, 26 million baskets or 54,000 tonnes more than in 1977-78. Padl output will be increased mainly through cultivation of high-yield rice strains areas under high-yield rice varieties will be doubled
      Reuter  -  67 words
    • Article, Illustration
      Rumania to buy M$1m worth of Malaysian tyres
      182 2 RUMANIA has placed a third order fer heavy earthmover tyres worth aearly MSI million with Dunlop Malaysian Industries Berhad. Ito first order, valued at $290,000 came la I*7o. It was followed by another order worth 0390,000 last year. "Obviously, the Rumanians are
      182 words
    • Article
      Farm co-ops in Selangor thriving
      286 2 THE director of the Selangor farmers organisation authority, Enclk Anl Saad. said yesterday the eleven farmers organisations In Selangor now have more than Msl.9 million In total assets. With assets worth $656,567, the organisation In Tanjung Karang Is the richest, followed Dy Ulu Langat Utara
      286 words
    • Article
      Coconut imports
      120 2 THE Indonesian government Is Importing close to 40,000 tonnes of coconut oil from the Philippines In a bid to offset the spiralling price of the Important commodity. The price of coconut oil, Indispensable In any Indonesian household, has Increased more than 28 per cent In the retail shops
      120 words
    • Article
      Logging your air travel for a prize
      302 2 DOUBLE return tickets to almost all Cathay Pacific Airways' destinations are being offered as prizes for a CPA/American Express Kilometre Race which is being launched on Aug 1. The Kilometre Race is open to all American Express card members who use the American
      302 words
    • Article
      Regent eyes 'satellite' spots
      173 2 THE REGENT hotel management group is considering the possibility of developing secondary or "satellite" markets in Asia, such as Penang, Slcogen in the Philippines and Chlangmal for tourists already visiting Manila, Kuala Lumpur or Bangkok. Its president. Mr Robert Bums said in Kuala Lumpur that Hongkong,
      173 words
    • Article
      MEMO PAD
      441 2 COURSES AND TALKS May 8-Aug 17: Aust Insurance Institute Assoclateshlp Course, SITC, BITC Aug 7-8; Costing ti financial analysis for marketing managers; Hilton, Price Waterhouse Aug 7-28: Cost Accounting and control, Hotel Royal, NPB Aug 7-14; Design of experiments, NPB office, NPB Aug 7-29: Marketing management, Holdlay Inn,
      441 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      162 2 COLLECTINQ Oriental Antique.; LM N < OwtWW 7\ A <> by Judith Moorhouse and Dries Blitz Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average
      162 words
    • Advertisement
      Page 2 Advertisements Column 2
      67 2 i mse: Call our Port Kelang or K.L. Office for any emergency repairs to your ships afloat at Port Kelang or Port Dickson. MSE has now extended its services for wider coverage beyond Johore. *****6 Port Kelang office ***** Kuala Lumpur office MALAYSIA SHIPYARD AND ENGINEERING SDN. BHD. Pasir Gudang,
      67 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      571 2 6 Cold stones (3) Wax. 17, Dais. 19, Trip. 21, Prttl--7 Facilitating a singe, possibly "J® 1 1 4 '.P u i? b^ (8) 27, Abet. 2®, Bait. 32, Oils. 33, 0 Write an enclosure (3) 34. Intone. 35, Arbiters 11 Like the highest form of exploration (5) DOWN. 1,
      571 words
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  • OVERSEAS
    • Article
      Lock icon R and D gets top priority in West Germany
      248 3 Reuter THE GERMAN government will spend around an extra 1.8 to 1.9 billion marks (551.98 to 2.09 billion) on research and development next year out of the 4.7 billion marks in additional spending proposed under the economic stimulus package drawn up
      Reuter  -  248 words
    • Article
      Lock icon Japanese value ties with Europe
      184 3 AFP. JAPAN considers Its relations with Western Europe as important as those with the United States and also a link between the United States and Western Europe in coping with the present global economic crisis, the Foreign Minister said In an annual diplomatic report published
      AFP.  -  184 words
    • Article
      Lock icon Greenbacks boost Irish economy
      786 3 NYT. A. BURST OF plant expansion by American and other foreign companies has set off a near boom In the Irish economy. The national colour now seems to stand for "go". Although Ireland Is still statistically characterised by the European Economic Community as economically stagnant (as
      NYT.  -  786 words
    • Article, Illustration
      HARD TIMES IN ZAMBIA
      967 3 t A MAJOR crisis in the crucial copper industry has brought hard times throughout Zambia. The crisis, of unpre--1 cedented proportions, is 1 hitting at a difficult time for President Kenneth Kaunda. General and presidential t elections in the one-party 1 state are due this year
      967 words
    • Article
      Lock icon Money supply up $6b in week ended July 26
      189 3 Reuter US narrowly-defined money •Ufply M-l rose US$2.7 billion <556.2 billion) to a "■"■'Uy adjusted $352 billion in the week ended July 26. New York Federal Reserve Bank said, for tbe latest four weeka, M-l averaged $351.8 billion compared with $350.5
      Reuter  -  189 words
    • WORLD IN BRIEF
      • Article
        Lock icon DEFLATING GAS BILL
        643 3 Agencies. AMERICAN Senate members of the energy conference committee postponed their next meeting on the natural gas deregulation bill until next Tuesday, further delaying action by the full Senate. The bill would phase out Federal price controls on natural gas by 1985. The meeting is to discuss
        Agencies.  -  643 words
    • Article
      Budget panel spares '79 federal spending
      727 3 THE US House budget committee on Thursday trimmed US$B.4 billion (Ssl9 32 billion) from next year's federal budget far less than some members Insisted was called for by the antl-spendlng fever sweeping the nation. The committee rejected a series of proposals for much more
      727 words
    • Article
      Lock icon American slump will hit Canada
      563 3 Reuter. <*THE BANK of Montreal said expectations are growing that within the next year the US economy may enter a recession, spelling trouble for the Canadian economy. It said in its monthly business review that despite three consecutive years of good growth in the US
      Reuter.  -  563 words
    • Article
      U.S. CAR SALES AT RECORD HIGH
      672 3 UNITED States domestic new car sales in July rose by 4.2 per cent to record levels from a year ago, but the strong recent sales pace slowed In the final part of the month. Manufacturers said their dealers sold 761,952 cars compared with 731,003
      672 words
    • Article
      Trade agency ruling on copper imports
      280 3 THE US International Trade Commission (ITC) ruled on Thursday that American copper producers are being Injured by Imports. The US government agency will vote on Aug. 10 on whether to recommend Import quotas or tariffs to protect the Industry. The final decision, however, must
      280 words
    • Article
      Lock icon Senate set to overwhelm Carter's gas bill
      660 3 NYT e j CRITICAL piece of Presln dent Carter's energy leelsII latlon, a bill to remove price 0 controls from natural gas 3 once again tottered on the e brink of oblivion on Thursday after a day of fast--1 paced political maneuvers. 3
      NYT  -  660 words
  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
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      81 words
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      537 4 THE Singapore rubber market yesterday closed slightly lower and August One RSS buyers were quoted at 228.25 cents per kilo, down one cent from Thursday's close. The afternoon session lost further ground on continued speculative selling and some East-European Inquiry, despite further China acceptances, dealers said.
      537 words
    • Article
      RAS PRICES
      325 4 Prices in centa per kilo yesterday: Noon (per kilo) Close (per kilo) Int. 1 R.S S prompt r.o.b. Int. 1 R.S.S. August Int. 1 R.S.S. September Int. 2 R.S.S. UK/Cont Int. 3 R.S.S. UK/Cont. Int. 4 R.S.S. UK/Cont. Int. S R.S.S. UK/Cont. Buyers 228.50 229.00 229.50 ***** 220.00
      325 words
    • Article
      SSR AND SMR
      89 4 NOON SSR and SMR prices yesterday: HAS (Correal Mth) Buyer* Seller* (eMU par k<> September (Forward Mth) Buyer* Seller* (cent* per kg) 4t0i SSR 20 SSR 50 (1-ton pallet) (1-ton pallet) 208 50 200 50 208.50N 208 50N 200 50 207.50 211.50N 208 50N MRELB SMR5CV SMR5L
      89 words
    • Article
      Palm oil
      69 4 C.I.F. North European ports. In US dollars per ton unless otherwise stated LONDON: Malaysian 5H ffa bulk per tonne Thursday Pr*viou« September unq unq Octobet unch S32slr Sumatra 5* ffa bulk August 575alr 575pd September MSslr MSpd October 53Sslr 537^pd November unch S35slr December unch MSpd Nigeria 5%
      69 words
    • Article
      Closing prices
      30 4 Rubber: Aug 4 Singapore: August 228.25 cents (down one cent) Malaysia: August 234.50 cents (down 0.75 cent) Tin: Mf1.715 (down $10) Official offering: 192 tonnes (down tbree tonnes)
      30 words
    • Article
      Rice
      245 4 PRICES of White rice. Loonzain and Parboiled fell by US$5 per tonne In Bangkok yesterday. Traders said 100 per cent First, 2nd and 3rd Class White rice fell to $402, $387 and $382 each per tonne, respectively. For Loonzain, 100 per cent 2nd grade fell to $382 per tonne,
      245 words
    • Article
      Produce exchange
      392 4 THE SINGAPORE produce market closed on mixed sentiment yesterday as new factors eroded some of the confidence of dealers. Coffee prices were reported to have eased by $10 to fl5 per plcul as rumours that producing countries were setting up a UBSISO million fund to keep prices at
      392 words
    • Article
      Hongkong Comex
      166 4 THE sugar market yesterday closed about 0.09 US cents higher In continued quiet trading, with four lots traded against seven on Thursday. The Hongkong dally spot sugar price rose 0.25 to 6.85 cents, dealers said. The market will close on Monday for a local holiday. Sugar futures closing
      166 words
    • Article
      SPOT PRICES
      185 4 YARN and cotton In Hongkong dollars, spot ex-fodown: Cottoa fan: China Blue Phoenix 20a 1,790: 32a 2.240; 40s 2,340 (per bale of 400 Iba). Place CmBs: China Butterfly and Qlot* Brand unq. Dragon Head unq. Five Lamb* unq, Flower and Butterfly unq. Flying Oeeae unq (per piece 30
      185 words
    • Article
      Coffee
      298 4 TERMINAL coffee In London yesterday opened £29 to £18 per tonne down in a turnover totalling 317 lots. Dealers had expected prices to be as much as £30 Sr tonne lower at the openly based on New York. Once prices achieved this level, they settled In a £10 per
      298 words
    • Article
      Cocoa
      183 4 TERMINAL cocoa was little changed In a dull opening call in London yesterday. Ghana was again said by dealers to have sold Jan/ March on Thursday at £1,780 per tonne C.I.F. and was thought to be In the market yesterday at prices In excess of £1,775. But interest in
      183 words
    • Article
      Wheat
      88 4 WHEAT futures closed three US cents to half a cent a bushel higher in Chicago on Thursday. Traders said the market firmed In late trade on heavy local short-covering and a lack of farmer selling. They said the Inverted market, with the nearby at a one-cent premium to the
      88 words
    • Article
      Money movements affect market
      312 4 CURRENCY movements again proved the major Influence In the week ended Aug 3, taking levels down some three cents in slower trading and reduced turnover, says Holiday, Cutler, Bath A Co. in its weekly review of the Singapore and Malaysian rubber markets. Initial steadiness on weekend
      312 words
    • Article
      Straits tin
      267 4 THE STRATTB tin price In Penang fell Mslo to $1.71S Kr picul $15 above the ternatlonal Tin Agreement celling. Sentiment turned easier, mainly following the weaker London Metal Exchange price, coupled with reduced demand from America. Some light local covering help to check prices, dealers said. Turnover fell
      267 words
    • Article
      Sugar
      190 4 THE London dally raw sugar price yesterday remained steady at £89 while the whites price fell £0.50 to £100.50. On Thursday, futures closed £1.50 to £2.70 per tonne higher and turnover totalled 3,260 lots. The market Initially held steady after lunch nn follow-through buying and covering from the morning's
      190 words
    • Article
      Lead
      134 4 LEAD closed the morning £1 per tonne higher for cash ana unchanged for Three Months In London yesterday. Dealers attributed the steady tone to Improved sentiment and expectations of a further moderate stock decrease this week. The contango narrowed to £5.5 from £6 on Thursday afternoon reflecting the tightening
      134 words
    • Article
      Zinc
      80 4 ZINC gained around £2.5 Eer tonne all round In ondon yesterday. Despite the fall In copper, traders said modest buying was encouraged by steadiness In lead. But trading was thin and only 875 tonnes changed hands. Market stocks are expected to show a small Increase this week. On Thursday,
      80 words
    • Article
      Soybean
      88 4 CHICAGO soybean futures on Thursday finished 3% U8 cents a bushel lower In the nearby, but other months added 2*4 to 6Vfc cents. Traders said the nearby felt heavy local liquidation following larger than expected overnight deliveries. But deferreds gained on aggressive late commissionhouse and commercial buying. Country movement
      88 words
    • Article
      Copper
      263 4 COPPER wire bars showed losses of £7 per tonne for cash and £7.5 for Three Months In London yesterday. Values declined in the fire-market on expectalons of a moderate Increase In LME stocks this week, the US International Trade Commission recommendation of Import quotas to provide relief for the
      263 words
    • Article
      Silver
      264 4 THE Hongkong silver market yesterday closed unchanged at HK5262.00 per 10 ounces, in continued quiet trading, dealers said. The day's fixing price rose 50 cents to HK5262.00, while turnover was estimated at 10,000 ounces. On Thursday, silver on the LME lost 3.5 pence all round. The turnaround In US
      264 words
    • Article
      Gold
      491 4 THE KILOBAR in Singapore yesterday opened at §$14,707 and closed at $14,705. Prices fluctuated In a range of 114,635 to $14,720. The tone of the market was moderate. Spot gold for London delivery opened at U*****.70/ 201.00 and eased off to U*****.85/ 200.15 as the US dollar turned firmer.
      491 words
    • MONEY AND EXCHANGES
      • Article
        Singapore market
        580 4 THE US dollar again fluctuated against major currencies and closed weaker on the foreign exchange market yesterday. Against the yen, the US currency opened at 189.60/90 and remained at that level before moving down at noon to 187.80/00, Its lowest level for the day. However, the dollar was
        580 words
      • Article
        Asian $ rates
        164 4 Asian rates ASIAN currency deposit Interbank rates as at close on Aug 4: U8D»Ua Ottm 7 days 1 mth 2 mttu 3 mttu 8 mthj 9 mthj 12mthi 11/1 a 9/1# a i/4 a a/a a is/i« a a l/ia 8w. Pre. a a 7/ie a l/a a 1/4 a
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      • Article
        Discount
        46 4 RANGE of prices offered by discount houses on Aug 4: Overnight 3H% Call deposits 3*% to 3%H Cfastac Bvjrlac Selttac 3-month Treasury bills 3 3/8 31/4 3-month Bulk bills 313/16 3 13/16 3-month CD «3/l« 61/16 6-month CB 1/4 1/8 Source: National Discount Co Ltd.
        46 words
      • Article
        MLR
        21 4 THE average rate at which Singapore banks are currently prepared to lend to their best customers is 7 per cent.
        21 words
      • Article
        Treasury bill tender
        60 4 RESULTS of tender held on yesterday for 01 -day and 182-day Treasury bills: •l-4ay Mlbufe MhaAif! in-teyua* uWM Aac It I* Aag 11 •a Aaf 7 OM: Aooaptad bt4i 120.000,000 M* 800 000 •20.000 000 $•$17 approximately bidi inTull $10,000,000 M5 7JG 000 $10 000 000 $$$.2$
        60 words
      • Article
        London
        296 4 CURRENCY trading yesterday was quiet at the opening, with the dollar seeming to benefit from the absence of sharp falls In the Far East overnight. Another steadying Influence was the continued rise on the New York Stock Market the day before with a record turnover registered, dealers*said. The rises
        296 words
      • Article
        New York
        196 4 THE dollar fell sharply In hectic morning trading but recovered In very quiet afternoon business on Thursday. Late strength came as a technical reaction, without any aggressive buying of dollars, dealers said. The yen lost ground and closed at 0.5280/90 cents down from the opening 0.5335/40 cents, on
        196 words
      • Article
        Tokyo
        139 4 THE dollar for overnight delivery yesterday closed slightly lower at 188.70 yen, down from 188.80 at the opening and Thursday's close. The dollar fluctuated in a wide range throughout the day, reaching a high 190.60 In the morning and a low 188.10 In the afternoon, dealers said. Trading was
        139 words
      • Article
        Hongkong
        141 4 THE US dollar eased against all currencies In quiet end-week trading yesterday. It fell to 188.30/' 50 yen from New York's 189.15/ 25 close and Its 188.75/ 85 opening here, to 2.0320/ 30 marks against 2.0353/ 83 In the US after opening fractionally higher at 2.0355/ 85, and to
        141 words
      • Article
        Euro $ rates
        81 4 Euro rates LONDON Eurodollar deposit rates yesterday opened little changed from Tnursday's easier levels in continuing quiet trading, ahead of the weekend, dealers said. Eurodollar deposits opening quotes on Aug 4: Overnight 1. 2-7/0 Mon/ fuss and Tom/ Wad 0, 7-7/0 Call 2 days 0. 7-1/0 seven days ftt and
        81 words
      • Article
        Australia/NZ
        46 4 AUSTRALIA and New Zealand exchanges on Aug 4: AUSTRALIA: US dollar 1.1971/1.1S21 Sterling 0.0023/0 5056 Ninety-day airmail buying rates Sterling 0.0222 US dollar 1.1900 Ninety-day forward buying rates Sterling 0.9002 US dollar 1.1911 NEW ZEALAND Sterling 0.M'.V0.M49 US dollar 1.0070/ 1 0470 US dollar 1.0071
        46 words
      • Article
        Zurich
        55 4 ZURICH exchanges closing quotes on Aug 3: US *****-7090 stg s.Mft-mi CM 1.4007-90)1 D Mk S3 8540-M.04M D PI 77 .4000-5000 P Pr S0.0M4-M.OO01 B Pr *****-Mil D Kr 10.0081 0000 N Kr Il.tM-WM 8 Kr S7.04S2-MOM0 Lit O 2OM-W20 Aua acta U 0M0-OOS2 Port 1.7402-7010 Spain 2 2313-2M1
        55 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
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      172 words
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  • TRANSPORT
    • Article
      Lock icon Agreement on UK's share of Airbus programme
      731 5 NYT, AFP. AEROPLANE manufacturers In Britain, France and West Germany have agreed on terms for the British to become risksharing partners In building the Airbus A3OO wide-body airliner, industry sources In the United States and abroad said on Thursday. The terms were said
      NYT,; AFP.  -  731 words
    • Article, Illustration
      SHIPS IN PORT
      330 5 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Apollo Peak (1000 after DJatlluhur) 47 Hugheverett (1500 after Bunga Seta war) 18 Ibn Khaldoon (after Tadeusz Ocloszynskly Nedlloyd Fukuoka) 1/2 Otagold (2100 after Lexa Maersk) 8/9 Tutong (1500 22 Vega (1500 after Golden PASIR PANJANG WHARVES Ban ten (0600 after Dong
      330 words
    • Article, Illustration
      LONGEST SOVIET FLIGHT
      78 5 THIS IL62M Soviet aircraft has just accomplished the first non-stop flight between Moscow and Petropavlovsk-Kamchatsky (a town at the extreme north-east of Siberia). The flight took just under nine hours. The Moscow to Petropavlovsk-Kamchatsky run is the Soviet Union's longest air route and is part of the
      78 words
    • Article
      Lock icon Further studies on Penang bridge
      163 5 AFP. SEVERAL more feasibility studies are to be carried out on the proposed Mslso-mll-lion Penang bridge linking the island to the mainland after drilling operations are completed. Associate Professor Charles Samz and Dr. Patriot Ryall of the Science University of Malaysia, who carried out soil
      AFP.  -  163 words
    • Article
      SATS hopes to reduce airport delays
      556 5  -  By RAHIM KASSIM THE SINGAPORE Airport Terminal Services (SATO) a subsidiary of SIA was responsible for 11 delays In flight departures In June. This Is 1.1 per cent of 974 delays from a total of 2,385 departues at Paya Lebar Airport during the month.
      556 words
    • Article
      Lock icon LONDON FREIGHT
      195 5 UPI. JAPANESE charterers enlivened the Far East timecharter market. Several bookings included the Kawasaki payment of U553,950 (559.085) a day to the 40,351 dwt Winona for an August trip from Japan to the US Gulf. Tokai booked a 33,000 tonner at $3,250 a day for an Aug. 15-21
      UPI.  -  195 words
    • Article
      Lock icon US anger over sabotage charge
      265 5 AP US Ambassador to Panama William Jorden criticised a top Panamanian official who said an investigation is under way to determine If a delay In ship passage was caused by employees sabotaging the Canal. Mr. Jorden said on Wednesday that Romulo Escobar Bethancourt, personal adviser
      AP  -  265 words
    • Article
      Lock icon Hull docks re-open
      94 5 Reuter STRIKING British lockgate workers at Hull voted at a mass meeting to return to work from midnight Thursday. A British Transport Docks Board spokesman said. He explained that although maintenance men at Hull were continuing their strike, ships would be able to enter and >ave the
      Reuter  -  94 words
    • Article
      Strong demand for clean oil tankers
      268 5 DESPITE generally depressed conditions In the world shipping sector, a sudden surge In demand for clean oil carriers has boosted transport rates substantially in the past few weeks. New York tanker brokers said. Brokers noted tanker fixtures reported on Wednesday for over 25,000 tonnes
      268 words
    • Article
      Lock icon REVISED CAF FOR FAR EAST
      89 5 Reuter. A GROUP of Far Eastern Freight Conference Lines announced the revision of the currency adjustment factors from France and Japan to 28.5 per cent from 24.5 for France and 50.5 per cent from 46.5 for Japan, based on average exchange rates on July 28
      Reuter.  -  89 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      721 5 ARRIVALS Service Local Operator Number Time From CAL CI333 0040 TPE/HKG/KUL MAS MH601 O7O0 KUL MAS MH682 0725 KCH SIA SQ101 0815 KUL MAS MH621 0840 PEN MAS MH607 0845 KUL MAS MH671 0945 PEN/KUL CPA CX710 1005 HLP CAL CI814 1000 HLP RBA BI323 1025 BWN
      721 words
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  • Article
    Need for an Asean lobby
    442 6 IT IS always tempting when things are not going well to hit out with accusations. Asean leaders in their discussions with the Americans in Washington are not Immune to that temptation. There is a right to be angry that US commitment to improvements in its
    442 words
  • Article
    Are higher rates on the way?
    193 6 INTEREST rates are good barometers of demand for money. When they rise it is because of a shortage of liquidity. Citibank's move to raise Its minimum lending rate and its savings Interest rates appear to bear this thesis out. Bank credit has been increasing
    193 words
  • Article, Illustration
    Lock icon Yellow mystique that lingers on
    1277 6 THE PSYCHOLOGY OF GOLD NYT/ AP. GOLD. The dream at the end of the rainbow. The ring that ties two people together. The symbol of man's hope and of man's greed. It is neither the rarest metal in the world nor the most expensive. But
    NYT/; AP.  -  1,277 words
  • Article, Illustration
    Rough deal for our banks
    867 6  -  LETTER FROM AMERICA byl John Tan RISING Interest rates in the US are distressing quite a number of people, Including the two Singapore banks operating here. The reason is that the Internal Revenue Service (IRS) assesses the taxable income of these banks based on their
    867 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      351 6 In*» r«. 1 -1 No dinner is complete without a White Label Aaothcr qutiiry product from 405/407 Havelock Road, S'pore 3. Tel: *****1 lon Bar Where beautiful things happen come around to lon Bar for a swinging get together where Toto and his Kids, Constellations, Sonny Bala The New Moonglows,
      351 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      60 6 OUTLOOK for Singapore from 6 a.m. to noon today: Generally fair. Report for 24 hours prior to 7.30 p.m. on Aug 4 at the airport: Maximum Temperature 33.2° C Associated Humidity 53 Minimum Temperature 25.0° C Associated Humidity 92 Hours of Sunshine 4.70 Rainfall in Millimetres Trace Total Rainfall for
      60 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      318 6 M/Mißwirra SINGAPORE 5 1.00 PM Opening announcements followed by Sesame Street 0 2.00 Saturday Matinee Massacre Harbour Starring: Christopher George, Gary Raymond, Lawrence Casey, Claudine Longet 3.20 Hazel Bonnie Boy (Repeat) 0 3.45 2nd Asean Schools Track And Field Championships (English) 4 4.15 Elocution Contest (Malay) 0 5.00 Sandiwara A
      318 words
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  • Article, Illustration
    Dealing with Counterfeits the franc way
    692 7  -  By FRANCIS CHIN THE Swiss Franc banknote, one of the strongest currencies In the world, will now be even more difficult to forge the Swiss National Bank Is replacing all existing notes, and their 20 year-old designs, with new designs, printed In Switzerland itself,
    692 words
  • Article, Illustration
    STRAWS IN THE WIND
    518 7 RUSSELL Baker of the New York Times has Just sent a roundup of the latest "disaster films" on offer In the US: SHELLS a small resort town on the Chesapeake Bay Is menaced by a giant oyster lurking in an offshore mud-bank. Driven by a primitive
    518 words
  • Article
    Lock icon Street paved with jade
    621 7  -  By JOHN NGAI Reuter IT doesn't look anything like Tiffany's in New York or London's Bond Street, but some of the transactions in Hongkong's Canton Road jade market would make many gem dealers in the rest of the world green with envy. More than 500 stalls
    Reuter  -  621 words
  • Article
    US inches into the metric age
    572 7  -  FORPBfI on industry h RALPH BLUMENTHAL IF scotch come* in litres, film In millimetres, drugs in grams and cubic centimetres and some temperature reports In Celsius, can the metric packaging of milk, bread and butter and other common food products be far behind? Maybe.
    572 words
  • Article
    FILIPINO OIL WELLS
    72 7 IN yesterday's "Forum on Asean" by John Drysdale, a printing error unfortunately ridsrii the depth of oil-lees drilling at the Pagasa-I and Calamian-1 oil wells off the Palawan shelf northwest of the Philippines as 7,130 metres. Similarly, the depth of oil-less drilling of the North Nldo No.
    72 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      354 7 r m New Japanese Restaurant KlKU^ft serving authentic Japanese food It's the toast of the town. IMPERIAL BAR »"4 r M 4*> r ■rM A —V% "Is S *J Jk What is it about the Imperial Bar chat brings them in night after night? j The entertaining live muac? The
      354 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      50 7 IT'S PKiOJT POiSS U3P«ftD sues usyj F»MO nee PosiTtoN but I SHC'U, PWift J BnStdW il^arJcDictens tnrt«S TiL4.it CfV>l \fcXJ £»pp«e rocme»>*T fy+G^so* SHe'S ORE»M CR-iTtCBL* OF OUC ©OfteßU... Q\.PrtPitU\_\i cxrrsPbteeM wgout ouC Fets P»*> DouP>Tc-r> OUR. Tfr r>Y MCg OP ,TgQU6t£rr\f\*fcß, toeeKs Gcft2€cTivt 1 P*T C^eSTeKy— I t*G*T Please
      50 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon Price rise continues
      580 8 TOKYO Source: DBS-Daiwa THE market continued to rise yesterday, centring on pharmaceutical and chemical issues In brisk trading. Export-re-lated issues also shot up, since the yen rate against the dollar recovered from the 190 yen level. However, some forerunning pharmaceutical and incentivebacked issues declined on profit-taking. Total
      Source: DBS-Daiwa  -  580 words
    • Article
      Lock icon Hongkong
      393 8 Source: SHK Sec THE market continued to perform well yesterday morning with the accent on property shares. Trading was very active but the Index was only up 3.81 at lunchtlme ahead of the land auction In the afternoon. Heavy buying of HK Bank throughout the day saw the price
      Source: SHK Sec  -  393 words
    • Article
      Sydney
      426 8 THE market closed stronger yesterday, after a rally by leading mining and industrial shares in the afternoon as CRA rose 12 cents on the day to close at A 52.92 and Hamersley rose five cents to $2.40, dealers said. Interest in CRA has been building on the strength of
      426 words
    • Article
      Bangkok
      180 8 AUG 04 Bangkok Bank Bank or Ay ud hay a 372 4-2 268 •f2 Ltd ThalDanu 388 -4 Thai Farmers Bank 378 unch Trial Commercial Bank Bangkok Metropolitan Bank Industrial Finance Corp 2.335 unch General Finance Bangkok Investment 318 ♦6 First Trust 262 *2 Raja Finance 778 ♦6 Lee
      180 words
    • Article
      Jo'burg
      385 8 OOLD SHAREB were mater on the stock enhance In moderate trading on Thursday, reflecting the tower bullion price. Mining financial* were tower in tine with producers. De Beers was firmer, gaining five cents to 710. Ptatlnlum shares were a few cents tower In dull trade while coppers were marginally
      385 words
    • Article
      Lock icon Reeds moves to cut debt
      104 8 Reuter REED International Ltd said the sale of Its shares in Canadian Joint ventures, Its 63 per cent stake In Reed Nampak Ltd and Its South African building products activities will significantly reduce the company's debt and debt/ equity ratio. Reed said the consideration for
      Reuter  -  104 words
    • Article
      Belgian shares lively traded
      422 8 EUROPEAN MARKETS BELGIAN share prices were mostly higher In lively trading on Thursday. Bourse sources said Reserve. Boflna, Cockerllt, Clabecq. Halnaut Sambre, Acec, Gevaert, Tessenderloo, St Roch, Andre Dumont and Airbed rose, while Union Mini*re fell. In foreign stocks, UK Germans and Dutch were little change.
      422 words
    • Article
      Brussels
      91 8 AUG Prt FORWARD MARKET Acec 406 +33 Arbed 2520 +65 Astur 868 unch Brajcan 477 +8 Bru-Lamb 1540 +5 Canpac eio 14 Cock 478 24 Dr Beers 209 -2 Ebes 2290 +5 Electrobel 6790 -20 Qb-Inno-Bm 2320 unch Qev 1358 +40 Hobok 2395 +30 Petro 3850 50 Ryl Dutch
      91 words
    • Article
      Paris
      265 8 AUG 03 Fn COBBEILLE Alr-Llqulde BSNGervals Danone C8F(Thom»onCM) Cle Frarvcalae de» Pctrotes Compagnie Flnanclere Compagnie Generale Credit Foncler De France Harhette (Librairte) Machine* Bull Mlchelln (B) Pari has Pechlney Clglne Kuhlmann Peugeot' Philips (Nv Gem Bezlt) Prtntemps 8 A Rhone-Poulence SA Royal Dutch Sue* Cle Flnan De) Thonuon-Brandt Uslnor
      265 words
    • Article
      Frankfurt
      198 8 AUG Dm Aef-Telefunken Akzo Allz Leben AllzVers BASF Bay H T Wbtnk Bay Vbank Bayer BBC BMW Cassella Chem Verw Commerzbank Contl Oumml Daimler-Benz Degussa Demag Deutsche Bank Dread ner Bank EX Texaco Dyckerhof f 8T A Enka Olanzs Gelsenberg OHH Ha pag-Lloyd Harpener Hoechst Hoeach Horten Kali Salz
      198 words
    • Article
      Amsterdam
      219 8 AUG M ru ABN 384 50 ♦0.5 Ahold 108 30 ♦0 3 Akzo 3180 ♦0.2 AMEV 8450 ♦0 1 Amtas 108 00 uncn Amrot Bank 78 20 -0 3 Bergou 54 10 1.8 Berk 9500 ♦0 5 Bols 72 00 ♦1 BorsumlJ 157 00 4-1 Burhm&nn 7120 uncn Byenkorf
      219 words
    • Article
      Zurich
      181 8 AUG 01 Francs 47Actions Sulsses 205.5 unch Alusulsae Br 1225 -10 Alusulsae Ret 518B Brown Boveri Br. 1040 unch ClbaOeigyBr 1045 -10 ClbaOelcy PC 790 4-15 ClbtOelgyRec 503 ♦3 Credit Suisse Br 2105 ♦5 Credit Suisse Ret 412 2 Drktrowatt Br 1175 >20 Oeorge Ptacher Br 600 -10 Globus
      181 words
    • Article
      Milan
      101 8 AUG Lire 4/Anlc UlSO -#25 Assoc On ***** unch Butofl 503 -4 Ontrale 3835 420 Flat 1815 -20 Flnsider 142 25 -8.25 Oen Immob 74 50 -0.5 IFI Prl 2280 -10 Italcementl ***** 4200 Italgas 705 +4 Italslder 307 -2 75 Macnetl M P( 485 41 Margin Err 335
      101 words
    • Article
      Toronto
      290 8 SHARE PRICES closed sharply higher on Thursday In the busiest session In three months. The composite Index was up more than 9-1/2 points, with advances In 12 of Its 14 component groups Gains outnumbered losses 293 to 206. Imperial Otl A rose S/B to 207/S Imperlsi Oil Is expected
      290 words
    • Article
      Selected indices
      63 8 FINANCIAL TIMES INDUSTRIALS Thursday 490.9 Wednesday 495.3 Week AgD 488.8 DOW JONES AVERAGE INDUSTRIALS Thursday 886.87 Wednesday 883.49 Week Ago 850 57 LONDON DOLLAR PREMIUM Thursday 107 to 107V4 Wednesday 100*4 to 100* R.K. HANG SENG Friday 800.75 Thursday 592.43 Week Ago 581.88 SYDNEY INDUSTRIALS Friday 440.39 Thursday
      63 words
    • Article
      Lock icon Lockheed Missile award
      53 8 Reuter THE ARMY said It awarded as U*****.42 millon contract to Lockheed Missile and Space Co Inc for an experiment to resolve key Issues In developing an interceptor missile to operate above the atmosphere. The Army said the contract Involves a four-flight test programme with an option
      Reuter  -  53 words
    • Article
      Turnover reaches all-time record
      1109 8 NEW YORK THE BTOCK market advanced in an explosion of trading volume on Thursday, reaching the all-time record turnover of 83.50 million shares on April 17 this year and compared with the 47.47 million traded on Wednessaid the burst was touched off by a conviction that
      1,109 words
    • Article
      CHICAGO BOARD OPTIONS
      1633 8 August 3 CHICAGO Board Options Exchange volume swelled to 322,384 contracts on Thursday from 211,893 on Wednesday, but was off the record pace of 402,400 contracts on April 17. OPTION8 Oct JAN APL STOCK Alcoa 40 71/2 81/3 UNTRD 463/4 Alcoa 45 31/2 41/3 93/4 463/4 Alcoa
      1,633 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      97 8 The Love of ne ooking f|K> i.. t W =3* V, >< ■v« AM 3 EZ WW tiMiyrt to doooorts, [Mm tho cook i iHdtf rmpt of raclpM to try, one* tho basics have Imm mMtorad Finally, ho dtocutM tho low main fe Kenneth lo roglons ol China Poking, Shanghai,
      97 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Profit growth trend not the norm
      830 9 EARNINGS AT UTILITY FIRMS DOWN N.AMERICAN Washington Star K NUMBER OF electric utility companies, which have been reporting higher earnings since the day four years ago when New York's Consolidated Edison passed Ka dividend, have suddenly begun turning out lower profits. The lower earnings
      Washington Star  -  830 words
    • Article
      Lock icon GM silent on closure rumours
      168 9 Reuter A SPOKESMAN for General Motors Corp declined to comment on reports in Buenos Aires that the company will close Its car assembly plant in Argentina. Argentine trade union sourees said' GM viceK resident Mr. John Beck as Just completed a twoday visit to Argentina
      Reuter  -  168 words
    • Article
      GREYHOUND LEAPS
      160 9 GREYHOUND Corporation said its profit rose to US$l9.7 million during the second quarter from $15.7 million a year ago. On a per share basis, Greyhound earned 45 cents compared with 36 cents last year. The diversified concern, known best to travellers as a nationwide operator of buses, said
      160 words
    • Article
      Lock icon KOBE STEEL WINS ORDER
      96 9 ASIAN UPI TOKYO: Kobe Steel Ltd said it has received a US$2O million order from China for construction and civil engineering machines. Mr. Koklchi Takahashl. president of the company babied in Kobe, said the order Includes about 40 pile drivers, 20 crane trucks and ttaree to
      UPI  -  96 words
    • Article
      Lock icon Shell (Aust) to build unit at Geelong
      87 9 Reuter MELBOURNE: Shell Australia Ltd said It will spend about AS3S million to build a crude distillation unit at Its Geelong refinery to replace two units commissioned In 1954. The new unit, expected to be completed In 1980, will allow much greater operating
      Reuter  -  87 words
    • Article
      Sanko profit
      119 9 SANKO Steamship Co Ltd reported a consolidated net income of 75 million yen (no previous comparison figure as company is announcing consolidated results for the first time), for the year ended March 31. Sales were 314.55 billion yen and earnings per share 0.1 yen. Toyo Kogyo Co, Japan's
      119 words
    • Article
      Lock icon Benguet second quarter up
      129 9 Reuter MANILA: Benguet Consolidated Inc said its second quarter net earnings per share came to cents (eight cents) on net profit of $2.76 million ($1.84 million). Sales were $21.5 million ($15.7 million). For the first half period, earnings per share were 25 cents (17 cents) and
      Reuter  -  129 words
    • Article
      Lock icon CONTRACT WITH PHILIPS (HK)
      84 9 AFP HONGKONG: The Hongkong Government's radio television station has signed a HKS4.S million contract with Philips Hongkong Ltd for a mobile television production unit. The unit will be thfe first of its kind here and Is the first stage of the station's expansion of public affairs
      AFP  -  84 words
    • Article
      Lock icon Conrail suffers quarterly loss of US$60m
      478 9 Washington Star THE US GOVERNMENTfInanced Consolidated Rail Corp (Conrail) reported that it lost US$6O.9 million In the three months ended June 30, bringing the firm's total loss since it began operations in April 1976 to $849 million. Announcement of the latest loss came Just
      Washington Star  -  478 words
    • Article
      Lock icon Allied confirms sale of Trust Houses stake
      162 9 Reuter. LONDON: Allied Breweries Ltd confirmed reports that it sold its 21.4 per cent shareholding in Trust Houses Forte Ltd for £48.37 million, placing the shares through the stock market with institutional Investors. Allied Breweries said In a statement it sold its 21,499,328
      Reuter.  -  162 words
    • Article
      Lock icon Noranda, Imperial talks on
      68 9 Reuter NORANDA Mines Ltd and Imperial Oil Ltd said negotiations are underway which may lead to Imperial earning interests between 12.5 per cent and 17.5 per cent In oil and gas properties presently owned by Noranda, Agnew Lake Mines Ltd and Petromark Minerals Ltd, through Canadian
      Reuter  -  68 words
    • Article
      Lock icon UNION CARBIDE TO SPEND US$50m ON PLANT
      135 9 Reuter UNION Carbide Corp uld it will spend about US$4O million for a 30- million-kilo-gramme par year ethylene* mine. plant in Taft, Los Angeles, which will increase the company's ethyleneam!®« plant capacity to 90 million kgs annually. Union Carbide Bald the new unit
      Reuter  -  135 words
    • Article
      Lock icon Shell Canada forms group
      125 9 Reuter SHELL Canada Ltd said Alsands Project Oroup has been formed for the proposed construction of an oil sands mining plant In Alberta. Shell said Shell Canada Resources Ltd will have a 25 per cent Interest In the group, Shell Explorer Ltd a 20 per cent
      Reuter  -  125 words
    • Article
      Lock icon CHILE, ARCO SIGN DEAL
      59 9 Reuter CHILEAN President Augusto Pinochet said his government signed an agreement with Atlantic Richfield Co to search for oil near the Chilean Island of Chlloe In the South Pacific. Mr. Pinochet said exploration would begin within 40 days. He did not give any further details. Chlloe
      Reuter  -  59 words
    • Article
      Lock icon Domtar
      43 9 Reuter. DOMTAR Inc and Canadian International Paper Co said they are studying a newspaper price Increase announced by Bowater Sales Inc of old Greenwich. Bowater said the price will rise by US$l5 a tonne to $335 a tonne, effective Aug 1. Reuter.
      Reuter.  -  43 words
    • Article
      Lock icon Poor first half dims prospects at SEAT
      521 9 EUROPEAN FT BARCELONA: Losses of SEAT, the largest saloon car manufacturer in Spain and the only one with a significant local holding, could total between Pta2 billion and 3 billion this year on the evidence of the poor showing In the first half.
      FT  -  521 words
    • Article
      PINCHIN AND DENNY
      58 9 LONDON: Pinchin and Denny and Co will begin trading in the UK government bond market en Sept 1, County Bank Ltd said. Pinchin Denny will be joined in a limited partnership by a consortium comprising County Bank, the Stockholders Investment Trust Ltd, London Trust Co Ltd. Outwich
      58 words
    • Article
      Lock icon AEG-Telefunken modest
      164 9 Reuter FRANKFURT: Allgemelne Elektrlcltaets Gesellschaft AEG-Tele-funken AG said it expects only a modest improvement in the electrical Industries In the second half of this year. The company said in an interim report to shareholders that the reduction in its domestic labour force will continue, following the Just under
      Reuter  -  164 words
    • Article
      Lock icon A and P courts shoppers with trading stamps
      539 9 Reuter THE GREAT Atlantic and Pacific Tea Company, better known as A and P to grocery shoppers across the United States, will resume giving out trading stamps as part of a major promotional drive to lure new customers. The food retailer, which
      Reuter  -  539 words
    • Article
      Texas Int'l suspends share purchase
      362 9 TEXAS International Airlines said It has voluntarily decided not to purchase any more shares of National Airlines Inc before an Aug 8 hearing on the Florida state comStroller's motion to block urther purchases In the Leon county, Fla. circuit court. Texas International, which recently bought
      362 words
    • Article
      Lock icon Bank Sakhteman raises US$50m
      91 9 BONDS&LOANS Reuter LONDON: Bank Sakhteman, an Iranian bank providing term finance for the construction industry, is raising US$5O million through a seven-year syndicated loan arranged by C*ase Manhattan Bank NA, Chase Manhattan said. The loan carries an interest spread of point above London interbank offered rates
      Reuter  -  91 words
    • Article
      Lock icon KORAKUEN COUPON AT 3.5pc
      67 9 Reuter. FRANKFURT: The Kor&kuen Stadium Co Ltd's 40 million mark 8-tt-year convertible bond hu a 3.5 per cent coupon and was priced at par, lead manager Berliner Handels Und Frankfurter Bank said. Conversion price Is 480 yen per nominal 50 yen share at a fixed exchange
      Reuter.  -  67 words
    • Article
      Lock icon Mitsubishi Petrochem
      44 9 Reuter FRANKFURT: The 65 million mark Mitsubishi Petrochemical Eurobond Is expected to carry a 5* per cent coupon and five-year life, a spokesman for lead manager Westdeutsche Landesbank Olrosentrale said from Duesseldorf. Final terms will be set later this month, he added.
      Reuter  -  44 words
    • Article
      Lock icon Kerr-McGee oil earnings down
      117 9 KerrMcGee oil earnings down Reuter KERR-MCGEE Corp said second quarter oil and gas production earnings were below a year earlier due to higher liftings of foreign crude oil In the 1977 period. The company also noted that 1977 second quarter results were aided by inclusion of a natural gas price
      Reuter  -  117 words
    • Article
      Lock icon CHAMPLIN PETROLEUM TESTS WYOMING WELL
      141 9 Reuter. UNION Pacific Corp'a Champlln Petroleum Co subsidiary said a natural gas discovery well in southwestern Wyoming tested over 966,000 cu. metres of gas a day from five different formations. Champlln said the well, the number two Whitney Canyon, located in Uinta County, is in
      Reuter.  -  141 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      263 9 Born in Berkshire in 1920, Richard Adams studied history at Bradfield and Worcester College, Oxford. In the mid 1960s he completed his first novel, Watership Down which was awarded both the Carnegie medal and the Guardian award for children's fiction for 1972. In 1974 he retired and published his second
      263 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1648 10 BID and offtr pilots officially Hated and business In and reported to the Stock Exchaute of Singapore yeaUrdar with the number or shares traded shown in brackeu In lots of 1.000 units unless otherwise specified All Time Settlement Contracts arc quoted after the word 'sett." Btc Board deal
      1,648 words
    • Article
      Government bonds
      149 10 4 1/2% L/VBB (250,000) (W.BBB 99.848) 4 3/4% 18/8/88 (250,000) (100.208 100.358) 5 1/2% T P IVI4/81 (250,000) (100.278 100.408) S% T F 1/8/83 250,000) (100.358 100.408) 7% 1/8/85 250,000) (100.758 100 90S) 5 V 4% T P IWSI-84 250,000) (102.558) 7 1/4% 18/4/88 250,000) (100.75B) 7 1/4%
      149 words
    • Article
      Stock options
      78 10 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. Cold Storage (Sept $1.70) (0.658 0.755). Hume F E (Sept $1.20) (0.648 0.725). Prima (Sept
      78 words
  • Article
    SHARE INFORMATION SERVICE
    2499 10 1978 Hi«h Low Last Company Sale +0TGr's DW Div Crr Gr's Net Y*ld P/E Vol Day COM) Hick Low SECTIOWDNE tf* INDUSTRIALS 230 233 172 219 280 83 27# 11 208 4 210* 500 132 123* 112 133 195* 60ft 182 173* 140* 258 Ac ma Alcom
    2,499 words
  • Article
    In Kuala Lumpur
    1900 10 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. INOUBTRIALB A|ir>«m*t* (2.588) (2) ISS Aleam (2.288) <» 2 28 (1) 2
    1,900 words
  • Article, Illustration
    NY exchange boosts mart
    903 10 CAUTIOUS SENTIMENT was to—d to the wind* u in vector* left their hesitant stance and took a running leap onto the Stock Exchange of Singapore yesteran important psychological boost from the booming New York Exchange which saw the Dow Jones Industrial index jumping to its best
    903 words
  • Article
    PRICES LEAP FORWARD
    479 10 PRICES surged ahead strongly on the Kuala Lumpur stock market yesterday following the broad Thursday rally at the New York Stock Exchange which saw the heaviest first-hour trading in its 186 year history. The bullish news was well-received by the rather lethargic Malaysian market which was been
    479 words
  • Article
    Unit trusts
    144 10 8INGAFOU UNIT TBUOT INCOME BON] D UNIT Ulaaapn' prta m tar Aac T) iCiii W toss) 1.1S The Commerce I.I* 2.31 INCOME BOND 1.07 The Saving Fund 1JI 1.44 8'pore Prof Fund 1.07 1.13 ma MABA BUM1PUTBA FUND SgoreSecurlty 1.M 1.1 (Maas#*s' prim First Bumlputra ifcrAMT 3 18
    144 words
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  • COMPANY NEWS
    • Article, Illustration
      Hotel extension will stagnate CUE growth
      808 11 COMING on the back of a marked rise in earnings last year. Overseas Union Enterprise expects a further improvement this year. This is the impression chairman Lien Ying Chow portrays in his latest annual address in which he says: "Your directors are confident that
      808 words
    • Article
      DIVIDENDS ANNOUNCED
      251 11 Current payment Ex Date Books clone Date payable Total for the year Total for previous year M. Flour Kuala Hamper FftN River v low Sanyo Lnds. (M) S'pore Glass (1974) Peal Malaysia Ut4 Malacca M Cement Paa Electric S. Darby Uneec Loan Stk M Tobacco Berjuatai L. Perak
      251 words
    • Article
      SCRIP ISSUES
      118 11 Company Particulars Ex Date Books Close Pef i Malaysia Ua&i Great Eastern Life M'iia FeedmilU Synthetic Resins Fabar Mar lia Bonus Issue of 1 for 5 Rights Issue of 1 for 4 1.00 per share Bonus Issue of 1 for 2 Rights Issue of 1 for 4 <f>{1.00
      118 words
    • Article
      Gold Coin offer gets encouraging response
      390 11 GOLD COIN Ltd's offer of 4.5 million shares in Gold Coin (Malaysia) Bhd has been oversubscribed nine times while the public offer to non-bumlputra investors alone was oversubcrlbed by almost 36 times. The company said a total of 20,385 applicants applied for a total
      390 words
    • Article
      COMPANY MEETINGS
      126 11 KinU Kellai Tin Dredging Company Ltd: AOM to be held at Straits Trading Building. 5th Floor, 4, Leboh Pasar Besar, Kuala Lumpur, at 10.00 a.m. on Aug 9. Malayan Cement Bhd: EOOM to be held at 1st Floor, Wlsma Damansara, Jalan Semantan, Damansara Heights, Kuala Lumpur, at 3.00
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    • LATEST RESULTS
      • Article
        ALEXANDRA Holdings Ltd:
        50 11 Audited group net profit of $355,857 ($337,496) for the financial year ended March 31, 1978. Company net profit: $221,170 ($269,623). First and final dividend of 5 per cent less 40 per cent income tax (5 per cent less Income tax) to be paid on Sep 18. 1978.
        50 words
      • Article
        Olympia Plywood & Timber Products Bhd:
        27 11 Olympia Plywood Timber Products Bhd: Unaudited company pre-tax profit of $430,908 ($350,644) on turnover of $6.2 million ($5.22 million) for the half year ended April 30. 1978.
        27 words
      • Article
        Kenang Tin (Malaya) Bhd:
        26 11 Loss of M 558,275 (M 58.697) for the financial year ended Dec 31. 1977. Accumulated losses carried forward: M 5148,836 (M 590.561).
        26 words
      • Article
        Riverview Rubber Estates Bhd:
        41 11 Pre-tax profit of M 51.05 million (M 5925,639) for the half year ended June 30, 1978. A second Interim dividend of 4 per cent less 40 per cent income tax will be paid on Aug 15, 1978.
        41 words
    • Article
      Consplant offers to buy outstanding shares in Patani
      399 11 THE enthusiasm for bringing neatness into Sime Darby's rambling empire yesterday resulted in notice of a formal share offer (from Consolidated Plantations) for just 47,686 stock units in another group company. These are the outstanding stock units in Patani Para Plantations for
      399 words
    • Article
      Metal Box clears air on sale of stake to F and N group
      1426 11  -  By ARTHUR NG THE DEAL struck between Metal Box Singapore on the one hand, and rraaer and Neave and Malayan Breweries on the other, has aroused a great deal of curoslty In the Investment community. If the
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      Page 11 Advertisements Column 1
      241 11 When this anthology of 36 lively stories from The Asian Wall Street Journal was first published in February, it sold out in a matter of weeks. And no wonder. It's a book the Far Eastern Economic Review called "compulsory reading a kaleidoscope of the many facets of Asia." Now the
      241 words
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  • Article
    Another successful gold bid by Dresdner S-EA
    196 12 DRESDNER Southeast A«la (Dresea) has been successful in its gold bid at the International Monetary Fund auction held on Wednesday. Dresea managing director Rolf Willie said the bank has been successful in all the IMF monthly auctions held this year. There were 20
    196 words
  • Article
    Lock icon Japan must sustain growth, says OECD
    972 12 FORECAST OF $41b SURPLUS Agencies THE Japanese government may need to take further policy measures If economic expansion is to be maintained over the next year and the Japanese current account surplus appreciably cut. The Organisation for Economic Cooperation and Development (OECD) said yesterday
    Agencies  -  972 words
  • Article
    Lock icon MYSTERY OF THE NYSE SPLURGE
    627 12 NYT IT WILL be probably some time before anyone knows exactly where the record volume an estimated 65.4 million shares on the New York Stock Exchange came from on Thursday, but the why of it all Is already a hot topic on Wall Street. In
    NYT  -  627 words
  • Article
    Lock icon HK defends offshore tax
    340 12 AFP HONGKONG'S Financial Secretary Philip HaddonCave has defended the government's intention to tax certain offshore profits of financial institutions operating here. He was replying to critics of the proposal to impose a 17 per cent tax on interest earned in an offshore deal in which a
    AFP  -  340 words
  • Article
    LONDON STOCKS
    802 12 LONDON. Fri. J. Lyons' share price today rose about 45 per cent, following a takeover bid from Allied Breweries, while most other shares eaaed slightly on end-of-account telling, dealers said. At 3 p.m.. the Financial Times Index was down 3.1 at 496.8. Gold shares mostly softened following a
    802 words
  • Article
    IMF offers extended aid facility
    327 12 THE IMF Is using Its extended financing facility to aid countries with balance of payments difficulties which are large In relation to their economies In the absence of the supplementary or Wltteveen facility. Former IMF managing director Johannes Wltteveen met representatives of the Industrial and
    327 words
  • Article
    Joint refinery pact signed
    190 12 SINGAPORE Petroleum Company, BP and Caltex have signed an agreement for their Joint refinery venture In Singapore, said Mr. Tan Boon Telk, SPC's chairman yesterday. Sources said that SPC, BP and Caltex have also finalised the formation of a new company, Singapore Refining Company to take
    190 words
  • Article
    Changes in double taxation for UK and Singapore
    260 12 SINGAPORE residents receiving income derived from interest and royalties from the UK will now be taxed only 15 per cent in the UK, under a new amendment to the avoidance of double taxation agreement between Singapore and the UK. This provision applies
    260 words
  • Article
    What Asean can offer to US investors
    681 12 AMERICAN business executives meeting in Washington have been told the five members of Asean "are ready to move now" in response to business proposals from US firms. At the same gathering, however, the business leaders were told that it is still an open
    681 words
  • Article
    Court told of bank slips
    530 12 A WOMAN bank officer testified In a district court yesterday that lawyer Khoo kin Hlong's debit account with the First National City Bank was reduced by $100,000 on March 24, 1975, Mrs. Maria Soh, an internal audit officer with FNCB, said the bank has cash
    530 words
  • Article
    Lock icon Loans into grants
    106 12 Reuter. SWITZERLAND hu decided to write off some 180 million Swiss francs (about Ss22B million) of loans and interest to seven developing nations, according to a United Nations statement issued in Geneva yesterday. The UN Conference on Trade and Development (Unctad) said the Swiss government had informed
    Reuter.  -  106 words
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      86 words