The Business Times, 11 February 1977

Microfilm: NL8986
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 FRIDAY, FEBRUARY 11, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Lock icon Thais for Vientiane
      55 1 Reuter BANGKOK, Thurs. A Thai delegation will leave here for Vientiane next Tuesday for negotiations on flying rights of civil aircraft over Laos and Vietnam, Foreign Ministry sources said here today. The Thai team will be led by Foreign Ministry Undersecretary of State Wong Phonnikorn and Include
      Reuter  -  55 words
    • Article
      Lock icon Japan satisfied
      64 1 AP TOKYO, Thurs. "We are satisfied" was the official reaction of the Japanese government today on an interim fishery understanding with the United States reached in Washington earlier in the day. The temporary measure, good only until a permanent agreement goes Into effect no later than Dec 31,
      AP  -  64 words
    • Article
      Lock icon Joint air exercise
      42 1 Reuter JAKARTA, Thurs. Indonesia and Malaysia will hold a Joint air exercise next August to test their mobility and combat readiness, an air force spokesman said today. The exercise, called Elang Malindo ill, would be held In Sarawak. Reu-
      Reuter  -  42 words
    • Article
      Lock icon More cargo handled
      39 1 Reuter HONG KONG, Thurs. The volume of cargo loaded and discharged in Hongkong harbour last year totalled just over 21 million deadweight tonnes up 28.5 per cent over 1975, according to official statistics released today. Reuter.
      Reuter  -  39 words
    • Article
      Lock icon Ilyushin dies
      35 1 Reuter MOSCOW, Thurs. Soviet aircraft designer Sergei Ilvushin, who helped create more than 50 models of military and civilian planes, has died at the age of 82, Tass news agency reported today Reuter
      Reuter  -  35 words
    • Article
      Lock icon Tanker is half under
      42 1 Reuter KEELUNG, (Northern Taiwan), Thurs. Buffetted by strong wind and high waves, the 21,604tonne oil tanker Borag, which struck a reef outside Keelung Harbour, was today dangerously listing with her front half already sunk in the water. Reuter
      Reuter  -  42 words
    • Article
      Asean project grant
      37 1 MANILA, Thurs. The Asian Development Bank <ADB) today approved a technical assistance grant to Thailand to pay for the foreign exchange costs of a feasibility study of the rock salt-soda ash project of Asean.
      37 words
    • Article
      Lock icon Datuk Hussein leaves
      36 1 Reuter KUALA LUMPUR, Thurs. Malaysian Prime Minister Datuk Hussein Onn left here today for Istanbul to begin an official four-day visit to Turkey, at the end of which he will go to Iraq.
      Reuter  -  36 words
    • Article
      Lock icon Red ambush in Kelantan
      37 1 Reuter KOTA BARU, Thurs. Communist guerillas have killed a Malaysian soldier and wounded another in an ambush in the northern state of Kelantan, State Chief Minister Datuk Mohamed Naslr said here today. Reuter
      Reuter  -  37 words
    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Thurs. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 935.09, up 1.25; 20 transp 226.30, up 0.36; 15 utlls 107.52, down 0.42; 65 stocks 308.20, up 0.16. UPI.
      UPI  -  44 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      169 1 DULL trading continued at the Stock Exchange of Singapore yesterday, with prices moving narrowly either way. On the options board, support was light, but the premiums held very steady. The Business Times index was fractionally lower at 261.22, while the Straits Times Industrial average was unchanged at
      169 words
    • Article
      In Kuala Lumpur
      125 1 Rises Most active Berjuntal $11.20 +.10 Haw Par 101,000 Oentings $3.06 Inchcape 12.47 D B S $3.16 .06 +.04 Inchcape 59,000 .04 Pan Electric 44,000 U O B $3.42 .04 General Lumber 3fi mo Sg Besl $2 04 Pan Elect $2. is U.O Land tl.iu C Sugars
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  • Article
    Americans in S'pore 'are up in arms'
    801 1  -  US TAX REFORM ACT By ANTHONY ROWLEY THE American business community in Singapore and elsewhere In Southeast Asia Is preparing a major offensive against the US 1978 Tax Reform Act, which sharply hikes the personal tax payable by Americans abroad. An active lobby
    801 words
  • Article
    Lock icon Baht parity will remain stable
    115 1 AP BANGKOK, Thurs. The Thai baht is still one of the strongest currencies in Asia and its parity will remain stable throughout 1977, the Bank of Thailand said today. Thailand has more International reserves than money In circulation. A total of 28.654 billion baht (553.5
    AP  -  115 words
  • Article
    Lock icon Strike threat off
    111 1 AP MELBOURNE, Thurs. A threatened strike by Australian air traffic controllers was called off tonight. The strike would have grounded all flights to and in Australia. After five hours of discussions, an executive of the Civil Air Operations Officers* Association announced that the strike was called off.
    AP  -  111 words
  • Article
    Lock icon THREE SISTERS PAY
    90 1 Reuter LONDON, Thurs. Golden Hope Plantations, London Asiatic Rubber and Produce and Pataling Rubber Estates declared special dividends, payable June 1 to shareholders on respective registers at the close of business yesterday as follows Golden Hope 4.*****p, London Asiatic 5.*****p and Pataling 5.***** p. Dealings in the
    Reuter  -  90 words
  • Article
    Paving the way for Asean-EEC meet
    393 1 MR. John Hansen, head of the Asian division of the European Economic Community, yesterday had talks with Mr. S. Rajaratnam, the Minister for Foreign Affairs, on the second leg of an Asean tour to prepare the ground for the April EECAsean conference in Brussels.
    393 words
  • Article
    When you think only of home sweet home...
    304 1 RISING taxation payable back home is not the only headache being suffered by the American community in Singapore, it appears. Some of them are suffering from "culture shock" and would welcome greater "mental health" care here. So says Lanny L. Snodgrass, writing
    304 words
  • Article
    Our options move wows US broker
    414 1 SINGAPORE had "stunned" American securities markets with the speed at which the Stock Exchange here put option trading into practice, a US options expert said in Singapore last night. "You have really taken a major step by becoming Involved with options," Mr Terry Mayer
    414 words
  • Article
    Lock icon $60mil ADB loan
    127 1 AP KUALA LUMPUR, Thurs. Malaysia has signed a U5524.96 million (SS6I million) loan agreement with the Asian Development Bank to finance fishing projects on the east coast of Peninsula Malaysia, Sabah and Sarawak. The loan Involves a total Investment of $47.34 million under the Third Malaysia Plan.
    AP  -  127 words
  • Article
    Lock icon Westinghouse case
    113 1 AP PITTSBURGH Thurs. Testimony for a suit which charges Westlnghouse Electric with backing out of agreements to supply uranium to utilities has been concluded. County Judge I. Martin Wekselman will now set deadlines for final arguments in the case and begin the decision-making Rrocess that could cost r
    AP  -  113 words
  • Article
    Cargo checking is condemned
    281 1 THE Singapore National Shippers' Council last night condemned the Far Eastern Freight Conference's (FEFC) move to check cargo "on two vital grounds of principle". The Council said that while it supported any effective scheme to prevent malpractices In the shipping of cargo, It "strenuously objected" to
    281 words
  • Article
    QC: It's common in broking circles
    340 1 THE High Court here was told yesterday that the action which led to a stockbroker losing his dealer's licence last year was a matter which happened often between broker and client, especially in cases where Instructions had to be given over the telephone. Making
    340 words
  • Article
    Lock icon Yamani: We expect something in return
    274 1 AP ZURICH, Thurs. Oil Minister Shek Ahmed Zaki Yamani said in an interview published today that Saudi Arabia expects Western concessions in Middle East peace efforts in return for a moderate oil price policy. The conservative, influential Neue Zuercher Zeitung also reported Mr. Yamani
    AP  -  274 words
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  • OVERSEAS
    • Article
      Lock icon Concorde pact reached with US airline
      383 2 DALLAS-WASHINGTON RUN Reuter AP LONDON. Thurs. Air France and British Airways have reached agreement with the American airline Branlff International for It to run a subsonic Concorde service between Dallas, and Washington, a British Airways spokesman said yesterday. "We have reached agreement and it
      Reuter; AP  -  383 words
    • Article
      Lock icon 'Japan will keep to yen float policy'
      157 2 Reuter TOKYO. Thurs. The Bank of Japan will adhere to its policy of allowing the yen to float in accordance with market forces, confining Central Bank intervention only to occasions when a smoothing operation Is required to prevent erratic fluctuations, governor Teiichiro Morinaga
      Reuter  -  157 words
    • Article
      Lock icon A DIFFERENT VIEW
      92 2 Reuter TOKYO, Thurs. Finance Minister Hideo Boh said he does not believe the official discount rate of the Bank of Japan needs to be lowered immediately. He was referring, at a news conference, to Prime Minister Takeo Fukuda's statement yesterday that he would like to see the
      Reuter  -  92 words
    • Article
      Lock icon Snowfall in Japan claims 41 lives
      113 2 Reuter TOKYO, Thurs. Heavy snowfalls today blanketed Tokyo and much of Japan's Pacific coastline to widen the grip of an icy winter which has already claimed 41 lives. Shikoku Island had its first snow for 12 years and some air services were disrupted between
      Reuter  -  113 words
    • Article
      Lock icon PLO at Geneva proposal? No way say Israelis
      289 2 Reuter JERUSALEM. Thurs. Israel will firmly reject any proposal from UN secre-tary-general Kurt Waldheim to enable Palestine Liberation Organisation (PLO) representatives to attend a reconvened Geneva peace conference, officials here said. Dr Waldheim, continuing his Middle East tour aimed at reviving the
      Reuter  -  289 words
    • Article
      Lock icon Italy hasn't given up hope for $2.4b IMF loan
      476 2 Reuter ROME, Thurs. Italy Is still hoping to obtain a loan of US$l billion (552.45 billion) or more from the IMF, double the $530 million It Is entitled to under the provisional 45 per cent increase In quotas decided In Jamaica
      Reuter  -  476 words
    • Article
      Lock icon Uncertain future for lira despite help
      358 2 Reuter ROME. Thurs The Bank of Italy has been a steady net buyer of foreign currency in recent weeks to stabilise the lira on exchange markets, but the Italian unit's future remains uncertain, according to bankers here. The Central Bank, which has been intervening
      Reuter  -  358 words
    • Article
      Lock icon Japan loan
      59 2 AP SEOUL, Thurs. Japan agreed today to provide 12.6 billion yen (Sslo7 million) In loan to help finance a series of irrigation projects throughout South Korea. The loan, supplied by the Japanese Overseas Economic Co-operation Fund, will be repaid over ten years after a five-year grace period at
      AP  -  59 words
    • Article
      Lock icon Socialist platform for Janata Party
      560 2 UPI NEW DELHI, Thurs. The non-communist opposition People's Party has issued a strongly socialist election platform calling for increased emphasis on agriculture, redistribution of income and an end to poverty in India within 10 years. The coalition of four parties formed to fight Prime Minister
      UPI  -  560 words
    • Article
      Lock icon N SEA OIL CAN MEET UK NEEDS BY 1980s
      335 2 UPI LONDON, Thurs. More than 30 oil fields out of a total of 56 should be producing oil and gas in the British sector of the North Sea by 1980, a Central Office of Information report said yesterday. At the moment,
      UPI  -  335 words
    • Article
      Lock icon CBI to make two requests to Govt
      205 2 Reuter LONDON. Thurs. Representatives of the Confederation of British Industry will ask the Government to ease personal tax In its next budget In April and drop its plans to legislate for union-elected worker-dlrec-tors in firms with more than 2,000 or more employees. Industry
      Reuter  -  205 words
    • Article
      Lock icon Malik in Jeddah
      169 2 Reuter AMMAN. Thurs. Indonesian Foreign Minister Adam Malik arrived In Jeddah on an official visit to Saudi Arabia. Riyadh Radio reported. No reason for the visit was given, but observers believe he will discuss bilateral relations and oil prices. His visit comes amid efforts to end price
      Reuter  -  169 words
    • Article
      Lock icon Castro to US: Let's patch up with trade
      314 2 UPI NEW YORK. Thurs. Cuban President Fidel Castro said in an interview yesterday he wants to begin trade with the United States as a means of normalising relations between the two nations that have been broken for 16 years. Dr. Castro told
      UPI  -  314 words
    • Article
      Lock icon Speak up on change call by CFTC
      221 2 Reuter CHICAGO, Thurs. Robert Martin, commissioner on the Commodity Futures Trading Commission (CFTC), urged all sections of the commodity Industry to state their views forcefully about the many changes that will be made in trading procedures In the months ahead. "Many changes are
      Reuter  -  221 words
    • Article
      Lock icon Index up
      49 2 Reuter BERNE. Thurs. Switzerland's consumer price index rose 0.2 per cent in January to 167.4 (base 1966). making an increase of 0.9 per cent over January 1976 compared with 1.3 per cent in the year to December, the Federal Office of Industry. Trade and Labour said. Reuter.
      Reuter  -  49 words
    • Article
      Lock icon LDC MUST FIND NONBANK SOURCES OF AID IN FUTURE
      161 2 Reuter LONDON. Thurs. It is doubtful whether private banks can or will continue to sustain the present level of support for less developed countries (LDC) for another three or four years, American Express International Banking Executive Vice-President Mr. James Greene said.
      Reuter  -  161 words
    • Article, Illustration
      Lock icon Vance to seek a total ban on Rhodesian exports
      414 3 AP WASHINGTON, Thurs. With President Carter's backing, United States Secretary of State Cyrus Vance will spearhead a major effort to repeal the law allowing Americans to Import Rhodeslan chrome. Mr. Vance's decision to seek a total ban on Rhodesian exports was
      AP  -  414 words
    • Article
      Lock icon Carter's hopes
      106 3 Reuter WASHINGTON. Thurs. President Jimmy Carter said he hopes the Federal Reserve Board will pursue a steady monetary policy and that the supply of money entering the economy will continue to run at the same level it has in recent months. Mr. Carter, talking to Labour Department employees,
      Reuter  -  106 words
    • Article
      Lock icon Unemployment in Japan down
      134 3 AP TOKYO, Thurs. Unemployment in Japan totalled 920,000 in December last year, a decrease of 140,000 or 13 per cent from a year earlier, the Statistics Bureau of the Prime Minister's Office said today. The number of employed in December totalled 52.410.000. up 560,000 people or
      AP  -  134 words
    • Article, Illustration
      Lock icon Japan can't go beyond the 'package deal'
      399 3 Japan can't go beyond the package deal' PLAN TO HELP EUROPEAN SHIPBUILDING TRADE PARIS, Thursday Reuter JAPAN today warned its West European shipbuilding rivals that a package deal it offered to help them cope with the current slump represented a maximum effort beyond which it could not go. "This is
      Reuter  -  399 words
    • Article
      Lock icon Employers' offer to settle strike is too vague
      319 3 UPI THE HAGUE, Thurs. Dutch trade unionists gave a cool reception to an employers' offer yesterday to settle an escalating nationwide strike over cost-of-living wage hikes. Union leaders said an employers' proposal to guarantee wage rises in line with the cost of
      UPI  -  319 words
    • Article
      Lock icon Steel exports: Record high
      72 3 AP TOKYO, Thurs. Japan's iron and steel exports last year totalled a record high of 37.0 million tonnes, up 23 per cent over 1975, the Japan Iron and Steel Federation said yesterday. Due to a price setback on world markets, however, the export earned the nation
      AP  -  72 words
    • Article
      Lock icon West Germany on Carter plan to stimulate economy
      406 3 UPI BONN, Thurs. West German government and Industrial leaders yesterday took Issue with President Carter's proposals for stimulating the world's economies and said promoting private consumption alone would be Inflationary. Mr. Hans Frlderlchs, Minister of Economics, told the Parliamentary Committee of Economics
      UPI  -  406 words
    • Article
      Lock icon $57 pay increase a month for Italian workers
      247 3 Reuter ROME, Thurs. Italian workers were today awarded a 21,500 lire (SSS7) per month wage rise under the country's controversial system of automatic pay increases pegged to the cost of living. The Employers' Federation Conflndustrla estimated the award could cost industry an
      Reuter  -  247 words
    • Article
      Lock icon Indian exports up 31 per cent
      145 3 Reuter NEW DELHI. Thurs. India's exports Jumped by 31 per cent in the first nine months of the current financial year ending on March 31 compared to the corresponding period in 1975, a government press note said yesterday. Between April and December 1975 India
      Reuter  -  145 words
    • Article, Illustration
      Lock icon FUKUDA: SELF RESTRAINT VITAL FOR OUR EXPORTS
      228 3 AP TOKYO. Thurs. Prime Minister Takeo Fukuda said yesterday he believes selfrestraint is an important factor for Japenese industries to continue exports of their goods. He made the remark in the Lower House budget committee in reply to a question by an opposition
      AP  -  228 words
    • Article
      Lock icon Iran's oil exports fall
      165 3 Reuter TEHRAN, Thurs. Iran's oil exports fell last month by almost one-third compared with December, state-owned National Iranian Oil Company (JIOC) said yesterday. Exports figures showed a slight recovery later in the month after initial reaction to the oil price rise on Jan 1. Iran's oil
      Reuter  -  165 words
    • Article
      Lock icon W. Asians snapping up London houses
      165 3 Reuter LONDON. Thurs. Sweep- j ing aside local competition with their wealth, buyers from West Asia are snapp- ing up luxury London houses, according to a survey published here yesterday. They are buying Central London houses valued at over 1100.000. making the top price
      Reuter  -  165 words
    • Article
      Lock icon McBride takes lead in the USU election
      377 3 PITTSBURG: Thursday Reuter MR LLOYD Mcßride. campaigned on a plat of continued labour pea the steel industry, has t& a large and possibly deci lead in his contest for sldent of the United workers Union. An unofficial cou of ballots by Mr. Mcß.
      Reuter  -  377 words
    • Article
      Lock icon JCSA wants to form a cotton 'depression cartel'
      337 3 JCSA wants to form a cotton depression cartel' UPI TOKYO. Thurs. The Japan Cotton Spinning Association (JCSA) decided yesterday to seek government approval of forming a "de- pression cartel" to combat a prolonged business slump. The association in Its i meeting held yesterday at Osaka said the Industry wants to
      UPI  -  337 words
    • Article
      Lock icon North-South talks in Paris?
      180 3 Reuter LUXEMBOURG. Thurs. The North-South dialogue between eight industrialised and 19 developing nations should be resumed in Paris in about three months. British Minister Jon Tomllnson suggested here yesterday. Speaking for the presidency of the community's Council of Ministers, he told the European Parliament that the
      Reuter  -  180 words
    • Article
      Lock icon Efforts to find wage ceiling hit snags
      389 3 Reuter LONDON. Thurs. The wage-curb pact between Britain's Labour Government and trade unions, a cornerstone of the fight against inflation, came under serious new strain yesterday after angry disagreements among union leaders. As efforts continued to find a voluntary wage cei- ling for
      Reuter  -  389 words
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      348 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Feb 10 at Singapore airport. Maximum temperature Associated humidity Minimum temperature Associated humidity Hours of sunshine Rainfall in millimetres Total rainfall for the month Total rainy days for the month 28.5° C 74 23.4° C 100 1.70 1.8
      348 words
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  • COMPANY NEWS
    • Article
      Auditors qualify NMB(S)'s first report
      1081 4 THE first annual report of NMB (Singapore) as a public company has been qualified by Its auditors, Price Waterhouse. The qualification refers to the conversion of its foreign currency assets and liabilities. The auditors feel that these should be converted at rates ruling on Sept
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    • COMPANY MEETINGS
    • Article
      DIVIDENDS ANNOUNCED
      171 4 Current Ex Date Total for Total for payment Date payable the year previous year Sel. Dredging 35%Jan 20 Feb 11 35%+ 40% D. Keramat 66.67%+ Jan 26 Feb 17 66 67%+ 65% Ulu Benut 5%TE Feb 2 Feb 17 5%TE 5% N.B. Timber* 3%+ Jan 26 Feb 21
      171 words
    • Article
      Sentosa move paves way for requotation
      388 4 SENTOSA Plywood has confirmed the cancellation of the sales agreement of 1.9 million Pahang Consolidated shares paving the way for a requotation of the company's shares on the Kuala Lumpur Stock Exchange soon. The confirmation was made In a recent reply to the KLSE
      388 words
    • Article
      SES rejects Times Publishing's reply
      310 4 THE Stock Exchange of Singapore has told Times Publishing that it is still required to furnish the relevant Information relating to the change In the status of six subsidiaries during the year ended Aug 31, 1976. The SES says in a letter to the company
      310 words
    • Article
      Malaysia Rubber
      51 4 FOR the first nine months ended Dec 31.1976. Malaysia Rubber has reported pretax profit of €16,044 compared with €14,748 previously. The profit Includes dividends of €8.153 (C 7.425) from associated companies. Earnings per share came to 0.49p 0.48p and Malaysia Rubber has declared an interim dividend of 0.20p
      51 words
    • Article
      Lock icon Small business group has cause for joy
      927 4  -  By THOMAS E. MULLANEY NYT THERE was a high degree of elation here toward the end of last week among the various lobbying organisations that represent the small-business community of the nation. They had Just won a big victory In Congress on an
      NYT  -  927 words
    • Article
      Siemens non-commital about 1976-77
      651 4 FRANKFURT. Wed. Siemens. West Germany's longest electrical concern, remains firmly noncommital about the 1976-77 business year. Turnover is expected to rise current estimates put It at 5 per cent., predictions on profits have not been forthcoming. Dr. Bernhard Plettner, the group's chief executive, made it clear
      651 words
    • Article
      Lock icon Sony signs pact with Thomson-CSF
      89 4 Reuter TOKYO, Thurs. Sony Corp said It concluded a contract with ThomsonCSF to promote sales and technical development of Video Tape Recorder (VTR), colour tv cameras and related equipment for broadcasting use. It said the French firm will market Sony's one-inch Helical VTR. The BVH
      Reuter  -  89 words
    • Article
      Move to wind-up Amalgamated Petroleum
      96 4 MELBOURNE. Thurs. Amalgamated Petroleum NL said its shareholders approved a proposal for Its voluntary winding-up. They also approved the previously reported proposal for Amalgamated to sell Its one-third stake In the Razorback tin mine, Tasmania, to International OH for $180,000. Apollo International Minerals NL holds
      96 words
    • Article
      Lock icon HONDA LISTED ON NYSE
      52 4 UPI TOKYO. Thurs. Honda Motor will list Its shares on the New York Stock Exchange starting tomorrow, the Japanese car maker announced yesterday. Honda is the fifth Japanese company to list its stocks on the New York stock market, following Sony, Matsushita Electric. Kubota and Pioneer
      UPI  -  52 words
    • Article
      CHICAGO BOARD OPTIONS
      1324 4 On February 9 PRICES on the Chicago Board Options Exchange declined as losers outnumbered gainers, 393 to 78. Turnover approximated 91,247 contracts compared with 83.038 contracts on Wednesday. OPTION APL JLY OCT STOCK Alcoa SO 3 5/8 4 3/4 6 51 3/4 Alcoa 60 UNTRD 3/4 UNTRD
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    • Article
      Charterhouse Group confident of higher earnings
      374 4 LONDON. Wed. Having strengthened its equity base and earning capacity the Charterhouse Group is confident in the absence of unforeseen circumstances, of reporting an increase in profit in 1976-77, says Mr. J. G. Vaughan, the chairman. As reported on Dec 17, profit before tax
      374 words
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      191 4 Have you got your capyoffliel926/?7 BUKUMERAH? The complete filing cabinet on the Singapore business scene alphabetical INOEX OFFICIALS AND PUBLIC BODIES INFORMATION 1 T —l It's the 1976/77 'Red Book" the office/library reference book covering the business scene in Singapore. It is complete. Built up over 80 years and updated
      191 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Qatar completes Shell takeover
      193 5 Reuter DOHA, Thurs. The Qatar Government has taken over the Shell company of Qatar, completing Its takeover of all oil and gas operations in the Gulf, state officials announced. Under an agreement signed yesterday with the Royal Dutch-Shell group, the state took over the group's remaining
      Reuter  -  193 words
    • Article
      Lock icon Margin buying drops
      95 5 Reuter TOKYO, Thurs. The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo, Osaka and Nagoya Stock Exchanges on Feb 5, fell to 891.4 billion yen from 906.5 billion a week previously. It said this was the second consecutive weekly decline,
      Reuter  -  95 words
    • Article
      Lock icon W'house Electric offer
      74 5 Reuter TORONTO, Thurs. Westinghouse Electric Corp Is offering Westinghouse Canada minority shareholders US$26 for each share tendered, the Canadian subsidiary said. Westinghouse Electric holds about 75 per cent of Westinghouse Canada's outstanding shares. The offer permits shareholders to reconsider their investment in Westinghouse Canada in view of
      Reuter  -  74 words
    • Article
      Lock icon Eni head expects lower group loss
      98 5 Reuter ROME, Thurs. Ente Nazionale Indrocarburl (Eni), the state oil and petrochemicals concern, expects a net consolidated loss for 1976 of around five billion lire, sharply reduced from 1975's 120 billion lire loss, chairman Pietro Sette said. Mr. Sette told the Senate Economic Planning
      Reuter  -  98 words
    • Article
      GTE enjoys 16pc profit rise
      254 5 NEW YORK, Thurs. Strong growth in telephone revenue and substantial improvement in product sales raised net profit at General Telephone Electronics by 15.9 per cent to U*****.02 million ($364.99 million) last year. It said 1976 telephone results were helped by a substantial Increase in long-distance
      254 words
    • Article
      Lock icon Sullivan, SCOA deal
      133 5 Reuter SYDNEY, Thurs. C. Sullivan (Export) said SCOA will pay US$l.75 for each of its 1.6 million unlisted ordinary shares, setting the total price of the acquisition at $2.8 million. Sullivan's manager Mr. A.F. Miflln told Reuters foreign exchange approval has been granted In Australia and the
      Reuter  -  133 words
    • Article
      Lock icon German tax reform will improve share yields
      271 5 Reuter FRANKFURT, Thurs. Germany's corporation tax reform, which applies to 1977 dividends, will bring at least an average 1.2 points improvement in share yields, Mr. Wlegand Hennicke, supervisory board chairman of Deutsche Kapitalanlagegesellchaft (Deka). said. This means that this year some shares will
      Reuter  -  271 words
    • Article
      Prestige income higher
      365 5 LONDON.Thurs. After a steady C 1.99 million against C 1.83 million at halfway, pre-tax profit of The Prestige Group for the year ended Dec 31, 1976. rose from C 4.75 million to C 5.45 million on turnover up from C 42.09 million to C 47.93 million. Stated
      365 words
    • Article
      Lock icon Mitsui stages good recovery
      214 5 Reuter TOKYO, Thurs. Consolidated net Income at Mitsui came to US$B million In the first six months ended Sept 30, 1978, compared with a loss of $1 last time. Sales rose to $13.91 billion from 813.04 blljllon. A 13 per cent Increase In domestic transactions to
      Reuter  -  214 words
    • Article
      CBS results buoyant
      194 5 NEW YORK, Thurs. With all divisions making good headway, CBS has enjoyed a 33.4 per cent Jump in net profit to U*****.99 million ($122.9 million) for the whole of 1976. In the fourth quarter, net profit rose 34.2 per cent to $47.89 million ($35.67 million) on sales
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    • Article
      American Cyanamid optimistic
      170 5 NEW YORK, Thurs Reporting an eight per cent profit setback in 1976. American Cyanamid Is confident of making a recovery In the current year. The company said it expects improved earnings in 1977, despite the adverse impact of the current energy shortage in the US. For 1976,
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    • Article
      Bell Canada up
      135 5 TORONTO, Thurs. An eight per cent fall in net profit in the last quarter has reduced the advance at Bell Canada to only 7.7 per cent for the whole of 1976. For the year, net profit rose to C 5287.5 million from $266.8 million. Including $70.5 million
      135 words
    • Article
      Lock icon Carter's proposal hits H & R Block shares
      673 5 Carter's proposal hits H R Block shares NYT NEW YORK, Thurs. President Carter's first fireside chat to the nation last week did not exert much of an impact, generally speaking, on the stock market. But it did put a dent the next day in the shares of H. and R.
      NYT  -  673 words
    • Article
      Lock icon Storm over funds for Egam
      798 5 ITALY'S STATE-RUN INDUSTRY NYT ROME. Thurs. A stateowned holding company that Is able to stay alive only with heavy Infusions of public funds has generated a major controversy over Its financing and has underscored the difficulties of Italy's state-run industries. The company is known as
      NYT  -  798 words
    • Article
      Lock icon Babcock & Wilcox earnings forecast
      127 5 Babcock Wilcox earnings forecast Reuter SAN FRANCISCO, Thurs. Babcock and Wilcox expects to show higher sales and earnings for 1978, chairman George O Zlpf Mid, prior to a security analysts meeting here. In 1975, the company earned US$3 49 a share on sales of $1.60 billion. Final results are expected
      Reuter  -  127 words
    • Article
      Trust Houses Forte
      109 5 LONDON, Thurs. Trust Houses Forte has enjoyed a 73 per cent Jump In net profit to £10.9 million (£6.3 million) In the year ended Oct 31, 1976. Net profit attributable to the company showed an even bigger Jump at £8.2 million compared with £1.4 million last time,
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    • Article
      Uniroyal sales up
      96 5 NEW YORK, Thurs. A near fourfold Jump in net profit In the fourth 1976 quarter has helped Uniroyal to end the year with total earnings of US$2O.l million compared with $23 million previously. In the fourth quarter, It raised net profit to $20 million from $5.1 million
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    • Article
      Lock icon Mark bond reduction
      257 5 Reuter FRANKFURT, Thurs. Major German banks have agreed to cut this month's new issue calendar on the mark foreign bond market to around 580 million marks from the original provisional figure of 850 million to help relive market tightness, bond market sources said. Remaining loans In the
      Reuter  -  257 words
    • Article
      Lock icon Liabilities of US banks decline
      136 5 Reuter WASHINGTON, Thurs. Liabilities of US banks to their foreign branches fell US$752 million to $3.22 billion in the week ended Feb 2, the Federal Reserve Board said. This was $43 million below the level of Eurodollar borrowings in the week ended Feb 4, 1976.
      Reuter  -  136 words
    • Article
      Lock icon Belgian state loans
      142 5 Reuter BRUSSELS. Thurs. The forthcoming state-backed loans for Ste Nationale de Logement and Ste Nationale de Credit A 1* Industrie may be priced fractionally above par and not at par as originally expected, government sources said. The loans, expected to raise 16.5 billion and five francs respectively,
      Reuter  -  142 words
    • Article
      Austria
      32 5 FRANKFURT, Thurs. The Republic of Austria 50 million mark 6 3/4 per cent 10 year private placement was priced at 99 1/2 per cent, banking sources said. Lead manager is Commerzbank.
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    • Article
      Lock icon BNOC to raise funds
      128 5 Reuter LONDON. Thurs. British National Oil Corporation chairman Lord Kearton said the corporation will be raising funds on the international market for development of its 51 per cent stake in UK offshore blocks. Mr. Kearton told a press conference "we are getting ■close to specific propositions
      Reuter  -  128 words
    • Article
      Lock icon Bankers Trust
      83 5 Reuter LONDON. Thurs. Eurocurrency financing In the next six months will be dominated by huge medium term credits in the US$5OO million to $1.5 billion range as major Governments continue to borrow, Bankers Trust executive vice president Mr. Carlos Canal said. He told the Financial Times World Banking
      Reuter  -  83 words
    • Article
      Lock icon Shell Int'l
      55 5 Reuter LONDON Thurs. Shell International Finance is raising US$3OO million through a 10-year private placement, a Shell group spokesman said. Confirming market reports, he said the issue carries a per cent coupon, and will be used for general financing purposes. The placement will be made among a group
      Reuter  -  55 words
    • Article
      Lock icon NK
      46 5 Reuter FRANKFURT, Thurs. Norges Kommunalbank plans to raise a 100 million mark Eurobond around Feb 21, market sources said. Maturity may be more than 10 years, though this, together with the coupon, is not yet decided, they said. Lead manager is Westdeutsche Landesbank Girozentrale. Reuter.
      Reuter  -  46 words
    • Article
      Venezuela
      28 5 LONDON. Thurs. The Venezuela USSIOO million eight per cent Eurobond issue due 1984 was priced at 99 1/2 per cent, First Boston (Europe) said as lead manager.
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      89 5 1 /""N •H: us* Buy American-made Florsheim shoes at Americaya now and save up to 30% To help you usher in the Chinese New Year, Americaya is holding a very special Florsheim Shoe Fair where you can get up to 30% discount on every pair of Florsheim shoes you buy.
      89 words
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  • Article
    Share Information Service
    2003 6 1*74/77 High Low Lait Company Sal* Gr*s Gf'» Nat Dtv Dfcr rid P/E Val Day ♦or- Cvr (•»•> H*h Low SECTION ONE INDUSTRIALS 175* 131 206 106 237 186 201* 204 248 460 133 130 172 60 185 66 127* 149 172 386 Acma Acma A Alcom
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  • Article
    Transactions in Singapore
    1151 6 810 and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the, number of shares traded shown In brackets in lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board
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  • Article
    In Kuala Lumpur
    1307 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in lots of 1.000 units unless otherwise specified. INDUSTRIAL! Atma (1 4281 A. Ta»« (0 438 0 4581 <3> 0
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  • Article
    Stock options
    149 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. D.B.S. (June —13.90) (0.298 0.305) (1) o.2B'<'j, (5) 0.28. (1) 0.29. (Sept $3.90) (0.338) F.
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  • Article
    Unit trusts
    157 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' prices for Feb 11) (Current prices) The Commerce 1.75 1 85 Twmur nnun 1 in i M The Saving Fund S'pore Prog Fund 095 1 00 0 80 0.85 MARA BUMIPUTRA FUND S'pore Security Fund S'pore Invest Fund 1.33 1 40
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  • Article
    Corporate bonds
    165 6 BOTH 1/2% 1981 (100,000) IOS^S) D B S 8 1/2* 1982 (100,000) (99%8 100SS) DBS Converts 6 1/2* 1991 (100,000) (96 3 «B 97V.5) E 1 B 9* 1982 (100,000) (102*B 103VS) E 1 B 8 1/4* 1983 (100,000) (99%8 lOO^S) I B J 8 1/2* 1981 (100,000)
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  • Article
    Domestic govt bonds
    121 6 5 1/2* 1/12/77 (1,000,000) (101.508 101.60S) 5 1/2* 15/4/78 (1,000,000) (101.608 101.78S) 5 1/4* 15/7/78 (1.000,000) (101.488 101.595) 6 1/2* 15/8/78 (1.000,000) (103.358 103.505) 7% 1/7/79 (1,000,000) (104.858 105.00S) 5 1/2* 1/10/77-79 (1,000,000) (101.608 101.70S) 5 1/4% 15/10/79 (1,000.000) (101.008 101.18S) 6 3/4* 15/6/80 (1.000,000) (103.10B) 6
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      405 6 THE GREAT BOOKS of the beautiful, durable bindings Is :ord of the fundamental Ideas of IIW science, history, psychology, Hil Ml WW Here in beautiful, durable bindings is the whole record of the fundamental Ideas of mankind science, history, psychology, mathematics, theology, literature and poetry. This magnificent library provides the
      405 words
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  • Article
    Dull trend continues
    434 7 LACK-LUSTRE trading persisted at the Stock Exchance of Singapore yesterday. With operators and dabblers still very hesitant about opening new deals, the trend was rather uncertain with prices moving narrowly either way. Lack of direction and range added to the dullness of the market. Brokers attribute this
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  • Article
    Marginal gains by KL shares
    375 7 SOME light covering activity in the last hour of trading lifted prices on the Kuala Lumpur stock market yesterday. Trading, however, was confined to a handful of market favourites. There was also some fresh buying noted but support was too negligible to produce any Impact.
    375 words
  • Article
    Lock icon Expectations at Fujitsu
    122 7 Reuter TOKYO. Thurs. Fujitsu expects to report a 27 per cent increase in after-tax profit for the year ending March 31 to 8.50 billion yen from 6.69 billion last year, on sales 14 per cent higher at 329 billion yen (288 billion), a company spokesman said. The
    Reuter  -  122 words
  • Article
    Lock icon Garrard Engineering
    58 7 Reuter NEW YORK, Thurs. Plessey said its Garrard Engineering unit plans to broaden its US product line to include other audio components as well as turntables and new entertalnment systems. The company said Garrard currently sells only turntables in the US although it markets a wide range of
    Reuter  -  58 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1083 7 NEW YORK: Stocks fell sharply on Wednesday as Wall Street continued to ponder the inflationary Implications of President Carter's proposed tax plan and the possible adverse effects of the cold weather on economic statistics for January and the first quarter. Concern about how all this will Impact consumer
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    • Article
      Frankfurt
      314 7 FRANKFURT: Most shares were barely changed In very quiet trading, dealers said on Wednesday. In Autos VW rose 1.70 while among electrlcals, AEG gained 0.80 marks. Other leading shares In these sectors, main banks, chemicals and steels were less than one mark altered In either direction. Against the trend
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    • Article
      Brussels
      166 7 BRUSSELB: The market reversed Tuesday's trend and showed a broad majority of falls, largely influenced by the Wall Street decline, dealers said on Wednesday. Sturienne, Wagons-Lits and Arbed rose, but falls Included Traction, Societe Generate, Vieille Montague, Cock*rill, (labeeq Acec, Gevaert, UCB and Moaane. UK and Oerman stocks were
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    • Article
      Toronto
      330 7 TORONTO. The Toronto Stock Exchange closed lower In light trading with declines outpacing gains by three to two on Wednesday. Gold shares were sharply higher, although the group Is only one of several Indices forming the Index on which overall market activity Is based. Moore Corp fell 5/8 at
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    • Article
      Paris
      427 7 PARIS: The market closed on Wednesday generally maintained In more active trading than on Tuesday, helped by the fall to 9-5/8 per cent from 913/16 per cent of French call money and the decline In rates at the latest Bank of France tender, dealers said Motors, constructions, engineerings, steels
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    • Article
      Milan
      158 7 MILAN: The market closed moderately higher on Wednesday, but dealings were scarce owing to operators' reserve, with sentiment influenced by political and social uncertainties. dealers said Among Industrials, Fiat, Montedison and Pirelli Spa were steady, while Magneti Marelli lost ground. In flnanclals, Milano Central* partly regained recent losses. Bonds
      158 words
    • Article
      Tokyo
      540 7 TOKYO: Prices closed lower on liquidations In export-oriented shares on fears the yen's strength might dampen Japanese exports, dealers said on Thursday. The Etow Jones average lost 14.19 to close at 5.053.92 with volume 330 million shares. The New index closed at 381.28 down 1.90. Electrlcals. motors and precision
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    • Article
      Manila
      168 7 MANILA: The market lost further ground across the board, with soft copper prices depressing sentiment, dealers said on Thursday. Losers Included Atiaa Con A and B, Lepanto B, PLDT, Phil Overaeaa, San Miguel B, Oriental A and B, and Sea front. Unchanged issues Included Acoje Mining, Baguio Gold. Meralco,
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    • Article
      Jo'burg
      419 7 JOHANNESBURG: Gold shares closed at best levels following renewed local Interest stimulated by the higher bullion fix, dealers said on Wednesday. There was some mixed London Interest, they added. Gains In smaller and medium priced shares were in the region of five to 10 cents. Financial minings followed producers
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    • Article
      Sydney
      430 7 SYDNEY: BHP shares fell 10 cents to $6.98 In another depressed trading session on Thursday, taking them to their lowest since this week to 54 cents, dealers said. The Sydney All-Ordinaries Index dropped 3.11 points to 428.57. Hooker dropped seven cents to 57 cents, Peko-Wallsend 15 to $4.20 and
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    • Article
      Bankok
      83 7 KKB 10 Bahts Asia Fibre 119 Bangkok Bank 249 unch Bangkok Invest 144 unch Bangkok-Metro-politan Bank 2600 unch Bala 369S -2 Berll Jucker 165 I Charoong Thai Wire 162S Dumex Duslt Than! Faber Merlin First Trust Indo-Thal 175S unch J And J Ho 191 Jalaprathan Cement 83S Karnasuta 33
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    • Article
      Zurich
      317 7 ZURICH: The market closed easier In generally quiet activity on Wednesday. Sentiment was somewhat depressed by the report of the Federal Commission for Economic Affairs, saying there is not yet an economic upturn in sight in Switzerland in the ourrent year. Leading banks and insurances eased, except for resistant
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    • Article
      Hongkong
      441 7 HONGKONG: The market drifted lower again In quiet trading on lack or interest in blue chips, following the fall on overseas markets overnight, dealers said on Thursday The Hang Seng Index fell 2.78 points to 439.54 Among leading Issues, Hongkong Bank and Jardine Matbeson dropped 20 cents each to
      441 words
    • Article
      Amsterdam
      247 7 The Amsterdam bourse report for Wednesday was not available Ahold 75 10 -18 Akzo 29 80 -08 Algbank 313 50 -1.5 AMEV 55 80 -0.2 Amfas 86 50 -1.5 Amrol Bank 73 00 ♦0 1 Bergoss 81 50 -7.5 Berk 114 00 1 Bols 69 50 unch Borsumij 108
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    • Article
      Indices
      69 7 FINANCIAL TIMES INDUSTRIALS Wednesday 387.9 Tuesday 392.2 Week ago 406.1 DOW .JONES AVERAGE INDUSTRIALS Wednesday 933.84 Tuesday 942 24 Week Ago 952 79 LONDON DOLLAR PREMIUM Wednesday 98S to 99% Tuesday 98 'i to 99% H.K. HANG SENG Wednesday 442.32 Tuesday 445.20 Week ago 432.58 SYDNEY INDUSTRIALS Wednesday 354.81
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      424 7 THE SYNTOPICON The Syntopicon now makes It possible for anyone to "ask" great thinkers such as Plato, Aristotle, Tolstoy, and Freud about love, art, democracy, justice or almost any topic conceived by the human mind. The Syntopicon can guide your hand to the proper volume. Your eyes are directed to
      424 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market in S'pore and KL
      769 8 AFTER an unchanged opening, the Singapore rubber market yesterday eased one cent on lack of trading interest and light profittaking, dealers said. Towards the morning s close, prices recovered on fresh buying interest of March, April and near forwards. Turnover was small. The morning
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    • Article
      Closing prices
      30 8 Rubber Feb 10 Singapore: Mar. 205.75 cU (down 0.25 cts.) Malaysia: Mar. 209.50 eta (down 0.75 eta) Tin: $1,537.00 (up 16.00) Official offering: 220 tonnes (down 15 tonnes)
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    • Article
      Straits tin
      238 8 THE Straits tin price in Penang yesterday was up $6.00 to $1,537.00 on an official offering of 220 tonnes (down 15 tonnes). In LONDON yesterday, tin eased by around £42 for cash and £33 for Three Months in both contracts. Early pre-market firmness reflected the further advance at
      238 words
    • Article
      SSR and SMR
      112 8 DAILY SSR and SMR prices In cenU per kilo at noon yesterday Mar. Apr. B.A.S. (Cart Ml Mth) (Ferward Mth) Buyer* (cent Setters Buven Seller* perk#) (cent perkH SSR 20 (1-ton Pallet) 190.50 192.SON 192.00 194 00N SSR 50 (1-ton Pallet) 188.00 190 00N 188.50 191.SON M.R.E.L.B.
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    • Article
      Gold
      354 8 IN the Singapore gold market yesterday, the kllobar was thinly traded in the range of Sslo,Boo to 5510,850. For London delivery the metal opened at U*****.40/135.90 and on good buying support the price rose to U*****.00/ 136.50 before easing off at the close on small bouts of profit-taking to
      354 words
    • Article
      Copper
      214 8 LONDON, Thurs. Copper wire bars declined by mostly £11 per tonne. Values were unsettled on the pre-market where scattered liquidation pushed Three Months down to £341 per tonne, following the easy New York close, before short-covering partly reversed the trend. Renewed selling, however, depressed the market in the ring
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    • Article
      Lead
      86 8 LONDON, Thurs. Lead hardened and continued to attract fresh buying Interest around and £370 per tonne level for Three Months with sentiment bolstered by reports of some physical enquiry of eastern European account in the morning. Sales of 4.150 tonnes were about half carries. ON Wednesday afternoon, lead lost
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    • Article
      Zinc
      75 8 LONDON, Thurs. Zinc fell In the morning by most sporadic liquidation and hedge selling on a market lacking worthwhile physical demand, dealers said. Three Months traded In the pre-market at £420 but sagged In the ring to £417. Sales of 4.025 tonnes were boosted by carries. On Wednesday afternoon,
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    • Article
      Palm Oil
      117 8 THE following Palm OU prices -re quanta London on We«na«*r Tfre prices are elf Rotterdam and are quoted in U8 dollar per ton unless otherwise stated. Wednesday Pre*. Malaysia 5% ffa bulk Apl/May Sumatra 5% Feb Mar 497 sir 500 sir unch 512.50 sir 505 sir 507 50
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    • Article
      Produce prices
      226 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil Bulk 185 sellers old drum tOO sellers, new drum *95 sellers. Copra Mixed (loose) UK/Cont *55 buyers. Pepper Muntok ASTA white f.o.b. 100% NLW (350 sellers. Sarawak white f ob 90% NLW *330 sellers. Sarawak special
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    • Article
      Coffee
      392 8 LONDON, Thurs. Robusta futures opened £25 higher with Mch traded at £3,090. This Initial gain in Mch and in May at £3,075 stemmed from commission house buying following New York's firm close ana left over buyers pool there. Towards the end of the opening call profit-taking and local dealer
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    • Article
      Wheat
      113 8 CHICAGO, Wed. Corn futures posted gains of 3/4 to 129/4 cent a bushel at the end of a light trade. Prices eased in early dealings on the expectations of Increased farmer selling and reduced demand because of the milder weather. Late strength In soybean futures generated short-covering which turned
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    • Article
      Soybeans
      102 8 CHICAGO, Wed. Soybean futures finished a relatively light trade with prices 4% to 3/4 cents a bushel higher. Price movement was confined to only a seven-cent range as a lack of fresh news kept down trading Interest. Professional buying prompted local buying which brought the gains. Potential export business,
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    • Article
      Silver
      192 8 LONDON, Thurs. Silver eased by 2.8 to 2.5 pence per troy ounce. Sentiment was undermined by New York's decline and the trend Is most base metals, dealers said. These factors offset steadiness In gold and -values drifted lower under light selling with the bullion dealers fix contributing to the
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    • Article
      Sugar
      236 8 LONDON, Thurs. Futures opened quiet 0.15 to £0.50 below Wednesday's close. Sales totalled 233 lots. Very quiet conditions persisted with prices holding in a narrow range to finish £0.15 higher to £0.25 lower. Sales totalled 423 lots. London daily raws price was unchanged at £125 and the whites price
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    • Article
      Rice
      232 8 BANGKOK, Thurs. Indicative prices for rice quoted in Bangkok yesterday were: US dollars per tonne fob basis Bangkok. 100 per cent 1st class 282 100 per cent 2nd 267 1® per cent 3rd 262 5 per cent 254 lo per cent 233 15 per cent 230 20 per cent
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      546 8 THE German mark continued to firm against the US unit in the Singapore foreign exchange market yesterday following predictions from the United States that the mark will appreciate vls-a-vls the US currency. Opening at the DM2.4045 level against the US$, the mark firmed, when London came in In the
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    • Article
      Asian $ rates
      162 8 Asian rates ASIAN currency deposit interbank rates as at close on Feb 10 US Dollar* (Spot) Offer Bid 7 days 1 mth 2 mths 3 mths mths 9 mths 12 mths 11/le ....4 IVU .4 7/» l/» *14 7/1 l/l« 4 9/16 4 11/16 4 3/4 5 5 7/16 3/4
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    • Article
      Discount market
      47 8 RANGE of price* offered by dlacount houses on Feb 10 Overnight 2 to 3* Call deposit 3% (lahf Huv .Helling 3-month Treasury bills 3 2 7/B 3-Month Bank bills 41/16 315/16 3-Month CD 41/2 4 5/16 6-Month CD 4 5/» 41/2 Source: National Discounts Co
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    • Article
      Euro $ rates
      168 8 Euro rates LONDON, Thurs. Shortdate Eurodollar deposits opened Utted changed but edged 1/16 higher stemming from a wanted tendency in early trading. Most periods opened higher following the loss of the Friday dealing technicality. The slightly wanted tendency In shorts was ascribed to a few takers in a basically thin
      168 words
    • Article
      London
      256 8 LONDON, Thurs. The dollar eased In quiet early trading, losing ground against the mark and yen, dealers said. The German and Ja- < panese currencies are still attracting speculative attention following a US economist's testimony that an upward valuation of them both would help world recovery. Concern over the
      256 words
    • Article
      New York
      227 8 NEW YORK, Wed. The yen closed at its strongest here for six months after rising sharply on speculative buying fuelled by a US economist's remarks It should be allowed to rise 10 per cent, dealers said. Economist Lawrence Klein, who was President Carter's economics advisor during the presidential
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    • Article
      Tokyo
      104 8 TOKYO, Thurs. The US dollar for overnight dellvery rose to 286.30 yen, after opening at 286.00, compared with 285.80 yen at Wednesday's close, dealers said. Japanese banks, which sold dollars heavily on Wednesday following US economist Lawrence Klein's statement that a 10 per cent rise in the yen's value
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    • Article
      Hongkong
      89 8 HONGKONG, Thurs. The US dollar eased to a late 2.4030/40 marks from the 2.4050/55 New York close, but closed little changed against the local currency at HK54.6435/45 compared with Wednesday's $4.0430/ 50, dealers said. The US unit opened lower, continuing Its decline In New York, and fell at one
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    • Article
      Minimum lending rates (in %)
      50 8 Minimum lending rates (in ACBC AlfMrtcn# Bank ra Ban* 74 Ban* or Anwnct 9K Bank of Chin* 7 Bank or Tta*o •"*> Bank k«|»ri Indonesia T CMfKftd Bank «H CltaM Minratunm DCB6 rim cnton CtUbank HSBC lndosu«s f» Malayan Bancsnc f*» Mitaui Bank <*> OCBC W OOB UCB I UMBC.
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    • Article
      Australia/NZ
      47 8 AUSTRALIA/NZ exchanges quoted on Feb 10 Australia: Sterling 0.6382/0.6313 US dollar 1.0923/1.0875 Ninety-day air mall buying rates: Sterling 0.6653 US dollars 1.1179 Ninety-day forward buying rates: Sterling 0.6526 US dollars 1.0939 New Zealand: Sterling 0.5558/0.5527 US dollar 0.9594/0.9494 Ninety-day forward rate: Sterling 0.5889 US dollar 0.9779
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    • Article
      Zurich
      44 8 ZURICH exchanges closing quotes on Feb 9 US 2.5138-5146 UK 4.3150-3180 Can 2.4555-4575 WOerm 104.27-34 Neth 99.68-76 France 50.54-58 Belg 6.79-1/4 80 Denm 42.33 36 Norw 47.53-57 Swed 58.97-59.02 Italy 0.2850-2853 Austria 14.68-70' Port 7.77-79 Spain 3.64-1/2 65 Arg 0.80-95 Japan 0.87-3/4 88-1/4
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    • Article
      Frankfurt
      33 8 FRANKFURT exchanges opening quotes on Feb 10 US 2.4025/40 2.4080/90) Can 2.3485/3505 UK 4.120/135 Neth 95.48/63 Swltz 95.55/70 Italy 2.720/735 France 48.32/47 Norw 45.50/67 Belg com 6.505/520 Belg Fin 6.505/515 Japan 0.8415/30
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    • Article
      Eurobond prices
      269 8 LONDON, Thurs. Dollar bonds were virtually unchanged in dull trading, dealers said. Among convertibles US dollar bonds eased slightly in moderate activity while Japanese Issues had heavier volume. Mitsubishi Electric was much sought after and firmed to 111% 112 V. (109% 110%) Ei*>bond prices quoted on Feb 10
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      Page 8 Advertisements Column 1
      162 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) Surface mail 2* Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei, Sarawak. Sabah Australasia/Pacific (excluding
      162 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon US Clean Air Act: Car firms want standards lowered
      716 9 WASHINGTON, Thunday NYT THE major car companies said yesterday that technology was now available to meet pending requirements for lowering pollution from car exhausts but, In Congressional hearings on controversial Clean Air Act amendments, asked that the standards be lowered and
      NYT  -  716 words
    • Article, Illustration
      Lock icon ITT picks Hamilton to succeed Geneen
      614 9 NEW YORK, Thursday Reuter NEW YORK. Thurs. International Telephone and Telegraph Corporation. the prototype of multinational conglomerates, yesterday announced that It had chosen the heir apparent for Chairman Harold Geneen. ITT said Mr. Lyman Hamilton, Jr., 50, would become president and chief operating officer
      Reuter  -  614 words
    • Article, Illustration
      IN PORT
      347 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Barge Intermac 312 (0900 alongside Tarantel) 38/39 Fortune Runner (3FYQ) (after Barclay Progress) (Subject to Free board) 29/30 Haylin (2300 after American Mall) 3/4 Kota Bali (1700 after San Francisco Maru) 44 New Star (1000 tide after Lea Express) 27/28 Straat Luzon (after
      347 words
    • Article
      Lock icon WHY TV RIGHTS FOR MOSCOW OLYMPICS COST $204mil
      444 9 NYT NEW YORK, Thurs. It was not the shrewdness of Soviet negotiators that caused the fees for the rights for the 1980 summer Olympics to reach a record US$B5 million (Ss2o4 million) but rather inflation and the growing Interest of American audiences
      NYT  -  444 words
    • Article
      Lock icon 2 railways for China
      91 9 Reuter HONGKONG, Thurs. The Railway Corps of the Chinese Liberation Army are building two new railways, one In South China and the other In North China, Radio Peking reported today. The radio, monitored here, said the southern line, 852 km long, would cut through a mountainous
      Reuter  -  91 words
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      Lock icon London freight market
      177 9 AP LONDON, Thurs. Although somewhat busier, chartering remained insufficient to engender any rate improvement on the London freight market yesterday. On the contrary, Transatlantic grain rates still looked rather weak when the Ekaterlnl H. Goulandrls accepted US$5 (FIO) for a 50.000-tonne FebruaryMarch haul from US Gulf to
      AP  -  177 words
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      Toyota the lead as best seller
      387 9 KUALA LUMPUR. Thurs. Toyotas maintained the motor trade's lead as Malaysia's best seller in 1976 In a keenly fought competition with Datsuns which turned out a close second. At a Press conference to announce Toyota's success, Mr Lim Kheng Hong, general manager of Inchcape
      387 words
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      Lock icon CAB rejects bid for fare hikes
      125 9 Reuter WASHINGTON. Thurs. The United States Civil Aeronautics Board yesterday rejected proposed fare increases of three to 10 per cent on passenger flights between the United States and Australia, New Zealand and other points in the South Pacific. The CAB, which regulates airline routes
      Reuter  -  125 words
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      DAILY AIRCRAFT MOVEMENTS
      622 9 ARRIVALS Operator Service Number Local Time From CPA OA MAS PAA CX003 OA472 MH682 PA841 0145 0200 0810 0950 HKG SYD/MEL KCH SFO/HNL/GUM JAL SIA GIA GIA PAL KLM JL712 SQ211 GA980 GA908 PR501 KL833 1000 1010 1030 1100 1115 1150 HLP HLP HLP MES MNL AMS/ATH/KHI/
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      450 9 Bu SINGAPORE MC=P;*2/! *7 VOI. NO I JW JW -97? PmC£ S3OC .S X mess In this issue we feature: MANUFACTURING Capitalising on the imagination of women: Fashion is a massive, global industry which caters for the whims of the fairer sex. Apparel and electronics manufacturers wary: Conditions in the
      450 words
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    ITT sets out to give MNCs a facelift
    651 10  -  By ANTHONY ROWLEY ARE multinational companies the "exploiters" they are often reputed to be repatriating profits from host" countries by avoiding paying taxes, creating jobs largely for expatriate staff and failing to transfer technology to developing nations? Not according to International Telephone
    651 words
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    What is in store for the building materials trade?
    2425 10 MANUFACTURERS IN STEEL, r.F.MF.NT AND BRICKS TELL JIMI NGOH OF THEIR HOPES AND PLANS CONSTRUCTION Is big business In any economy. In Malaysia It is big and vital. Last year, for Instance, the industry accounted for nearly half of total investments
    2,425 words
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    Benefits are becoming more popular
    1391 10  -  DRYDEN GILLING-SMITH REPORTS ON REMUNERATION POLICY DRYDEN GILLING-SMITH Dryden Gi Ming-Smith is managing director of Employee Benefit Services (KBS Management Ltd.) THE CURRENT British Leyland "fringe benefitsnegotiations and an internal Transport and General Workers' Union circular on the need to concentrate energies on the negotiation
    1,391 words
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      Page 10 Advertisements Column 1
      244 10 APPOINTMENTS SINGAPORE OFFSHORE AM PETROLEUM SERVICES PTE. LTD. requires a Financial Officer/Company Secretary Qualifications: An accounting degree. Chartered Secretary or equivalent i Experience: Preferably minimum 2 years relevant experience Remuneration: Commensurate with qualifications and experience Good prospects for those who seek long term employment and are willing to make positive
      244 words
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      134 10 An established American Manufacturing Company invites applications for: ENGINEERING MANAGER Minimum 4 years experience in a manufacturing plant with strong bias on Industrial Engineering or Manufacturing Engineering. Knowledge of metal stamping, plastic moulding, toolings and assembly lines operations. 41 Degree or Diploma in Production/ Industrial Engineering. Successful candidate will plan
      134 words
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      Page 10 Advertisements Column 3
      104 10 SINGAPURA BUILDING SOCIETY LIMITED (Incorporated In Singapore) NOTICE OF LOST SHARE CERTIFICATES NOTICE IS HEREBY GIVEN that share certificate* Nos. ***** for 500 shares In the name of MDM. MABEL TANG and ***** for 433 shares in the name of ENCIK WAN MOHAMED NOOR have been reported lost. NOTICE IS
      104 words
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      464 11 How advertisers can mount a campaign aimed at businessmen Tactical information from Business Times Li u. >- < H* i 0 C 3. Shotgun approach beware. Be careful about spreading your message across too many publications. This approach is called the shotgun approach. A secret: Research into readership indicates that
      464 words
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  • Article, Illustration
    Lawyer Raman held for pro-Red activities
    315 12 Lawyer Raman held for proRed activities THE Ministry of Home Affairs yesterday announced the detention of a lawyer, G. Raman, for procommunist activities under the Internal Security Act. The announcement stated that Raman worked with a group of Eurocommunists to exert pressure through the Socialist International on the Singapore Government
    315 words
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    Lock icon Kill Marcos plot: 4 plead guilty
    189 12 Reuter MANILA, Thurs. A Philippine military court today sentenced American August McCormlck Lehman and three Filipinos to six years hard labour after they pleaded guilty to charges of rebellion, plotting to assassinate President Marcos and attempting to seize power. The seven-member court, headed by
    Reuter  -  189 words
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    500 FOR CARE OF THE OLD SYMPOSIUM
    126 12 A TWO-day symposium to discuss problems related to the treatment and care of old people will be held next week at the Shangri-la Hotel from Feb 14 to 15. Some 500 participants from medical, pharmacological and social welfare organisations from Singapore and throughout
    126 words
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    LONDON STOCKS
    839 12 LONDON. Thurs. The stock market moved slightly higher after a cautious opening although trade remained light, dealers said. At 3 p.m. the Financial Times Index was up 1.5 at 389 4 Shorts rose by around Vi point, although one Issue rose by IV Longer dated loans were '«to
    839 words
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    Lock icon Drive on smuggling nets 62
    108 12 Reuter JAKARTA, Thurs. Indonesia's antl-smuggllng campaign has led to 62 arrests, Attorney General All Said told a television Interviewer last night. He added that 22 more suspects were still being hunted down. He said that the campaign was being hampered because "certain elements" had attempted
    Reuter  -  108 words
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    Dr Tan's date
    32 12 DR. Tan Eng Liang, Senior Minister of State for National Development, will officiate at the opening ceremony of the Alkyd/ Polyester plant of Duno Industries this afternoon, at Jurong.
    32 words
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    Lock icon Hanoi opens business door
    572 12  -  By Ram Suresh Reuter HANOI, Thurs. Vietnam is now ready to expand its economy after spending the 21 months since the end of the war rebuilding Its industrial and agricultural base. Japanese businessmen are a common sight here. A strong Filipino economic delegation was among recent
    Reuter  -  572 words
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    Lock icon Khmer troops raze Thai houses
    183 12 Reuter BANGKOK, Thurs. Cambodian troops crossed the border into eastern Thailand today and burned down 16 village houses, government officials said here. The intrusion was in the same area where Khmer Rouge soldiers killed 30 Thais in a border raid on Jan 28. The officials
    Reuter  -  183 words
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    Lock icon $1.2 bil in the natural gas pipeline
    184 12 AP BANGKOK Thurs. The Thai government is planning to spend more than 10,000 million baht (551,225 million) on a pipeline to transport natural gas from recently discovered deposits in southern Thailand. Two US companies, Texas Pacific Thailand, a subsidiary of Texas Pacific Oil
    AP  -  184 words
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    FOCUS WILL BE ON HOUSING, PUBLIC WORKS
    809 12 NATIONAL DEVELOPMENT MINISTRY ADDENDUM THE Ministry of National Development will step up development plans over the next five years, especially housing and public projects, reclamation and primary production. As a result the Housing and Development Board will be catering to two million people
    809 words
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    Stress on our regional communications role
    465 12 SINGAPORE will be further developed as a regional communications centre, especially In airfreighting and in warehousing. Internally, telephone communications and public service transportation are expected to be further improved, according to Communications Minister, Mr. Llm Kim San, In his Ministry's addendum to the Presidential
    465 words
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    OPTIMUM USE OF LAND
    179 12 ANY changes in land values will be monitored by the Government and remedial measures will be taken "where necessary. The Government will also phase the acquisition of land for development, reclamation, and Improve land administration to ensure optimum land use. Mr E.W. Barker, the Minister for
    179 words
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    Lock icon South Korea plans to shift capital
    179 12 UPI SEOUL, Thurs. South Korea is considering moving its administrative capital out of Seoul because the city Is too close to the border with North Korea, President Park Chung-hee said today. Mr. Park said a plan to construct an administrative capital with a population
    UPI  -  179 words
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    Lock icon African air fares up
    91 12 AP GENEVA, Thurs. Scheduled airlines have agreed on increasing passenger fares on flights within the African continent by an average of five per cent effective April 1, the International Air Transport Association (lata) announced. The decision was taken unanimously at a meeting in an lata traffic
    AP  -  91 words
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    Japanese envoys due to meet here
    159 12 JAPANESE envoys stationed In the five nations of the Association of Southeast Asian Nations (Asean) and Burma are to hold a two-day meeting here next Tuesday, the Japanese Foreign Ministry announced In Tokyo yesterday. The meeting will also Include officials from Japan's finance, International
    159 words
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    Post-grad medical courses
    103 12 THE SCHOOL of Postgraduate Medical Studies of the University of Singapore. the first in South-east Asia, will commence Its postgraduate medical courses for 1977 in March. The courses will be conducted by local teachers assisted by teachers from Australia. New Zealand and Israel. Singapore, the first country
    103 words
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    SUITS
    36 12 IN the High Court yesterday, two suits totalling $73,665.44 were filed against Wei Glap Construction for building materials, alleged to have been sold and delivered by BRC Weldmesh (South-east Asia) and John Lysaght (South-east Asia).
    36 words
  • Article
    Lack of yard safety: Where the blame lies
    199 12 SUBCONTRACTORS are mainly to be blamed for inadequate attention to safety in the work environment of the shipbuilding and shiprepairing industry. Professor Ang How Ghee, chairman of the advisory committee on accident prevention in the industry, added that subcontractors are not forthcoming
    199 words
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    Lock icon OK FOR LNG PROJECT AWAITED
    137 12 Reuter MIRI, Thurs. The Shell group Is awaiting Malaysian Government approval to begin work on a liquefied natural gas (LNG) project in Sarawak state, out-go-ine chairman of its local subsidiary. Dr. Richard Hu said. The LNG project in the Bintulu area will be Shell's biggest
    Reuter  -  137 words
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    Hamzah reminds firms to be fair to consumers
    291 12 PETALING JAY A, Thurs. Trade and Industry Minister Datuk Hamzah Abu Samah reminded the private sector today to fulfil their obligations to consumers by ensuring that their products were of high quality and their prices reasonable and by providing satisfactory aftersales service.
    291 words
  • Article
    The 'queen' comes a-calling again
    178 12 QUEEN Elizabeth 2, called the "greatest ship In the world", will arrive In Singapore on Feb 22, on her second round-the-world cruise. Nearly 200 passengers will join the QE2 at Singapore. The majority of the passengers embarking at Singapore are going with the QE2 to
    178 words
  • Article
    NPB to hold three industrial courses
    218 12 THE National Productivity Board will be holding three courses at Its Town Training Centre. They are: Elements of Industrial Engineering from Feb 28 to March 31; Practical Die Design for Press-working from March 7-18; and Low Cost Automation Module II (Basic Industrial Pneumatics) from
    218 words
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      312 words