The Business Times, 12 May 1977
1977-05-12
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The Business Times
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Title Section10 1977-05-12 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, MAY 12, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article61 1977-05-12 1 AP PITTSBURGH, Wed. Republic Steel, which last week Initiated price hikes on a variety of steel products, today scaled down those prices to match Increases posted by major competitors. The move brings Republic, the fourth largest US producer, Into line with top-ranked US Steel, National Steel,AP - 61 words
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Article43 1977-05-12 1 AP WASHINGTON, Wed. The US government announced today It will ban virtually all flourocarbon aerosol sprays less than two years from now In a move to protect the earth's ozone umbrella, which filters cancer-causing radiation from the sun. APAP - 43 words
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Article45 1977-05-12 1 Reuter f ASHIBETSU, Japan, Wed. A total of 18 miners were killed, eight others were Injured and another seven were still trapped In a cave-in caused by a gas explosion at a colliery on the northern Island of Hokkaido today, police said.Reuter - 45 words
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Article56 1977-05-12 1 AP GENEVA, Wed. The body of Swiss banker Charles Bouchard was found In Lake Geneva the day after the bank he formerly headed was declared Insolvent, officials said today. Bouchard, 69, retired several years ago from his post as director of Leclerc and Cle., which theAP - 56 words
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Article38 1977-05-12 1 AP WASHINGTON, Wed. This yew's coffee crop In Brazil, the world's leading producer, is expected to rebound sharply form last season's frost-reduced harvest to reach 17 million bags, the US Agriculture Department said today. APAP - 38 words
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Article34 1977-05-12 1 Reuter LONDON, Wed. A "consultative group" of American and British diplomats will go to southern Africa as part of an Anglo-American Initiative aimed at solving the Rhodesian dispute, Britain announced today. Reuter.Reuter - 34 words
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Article35 1977-05-12 1 Reuter LONDON, Wed. US Secretary of State Cyrus Vance said today the Carter administration continued to have a special relationship with Israel and would make sure that Israel had adequate defences. Reuter.Reuter - 35 words
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Article36 1977-05-12 1 Reuter BRUSSELS, Wed. The Common Market Commission today announced grants from the Community's regional fund totalling more than 01 million units of account (about ***** million) covering 490 projects In six member countries.Reuter - 36 words
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Article91 1977-05-12 1 UPI NEW YORK, Wed. Stocks struggled for direction early today In fairly active trading of New York Stock Exchange Issues. The Dow Jones Industrial average, which gained 3.05 points yesterday, was off 1.69 points to 934.45 shortly before the first hour of trading. The blue-chip average had lostUPI - 91 words
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Chief Price Changes
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Article, Illustration175 1977-05-12 1 MOST of the lower-priced favourites closed lower in moderate, selective trading at the Stock Exchange of Singapore yesterday as profit-takers made the scene in numbers. At the close, the Business Times index dropped 2.84 points to 264.86 while the Straits Times Industrial index declined 0.91 point to175 words
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Article104 1977-05-12 1 Rises Most active M Flour 2.79 D. Keramil A.30 Mesa 0.44 S.P. Textile 1.13 Too( Men* 0 46 See Corp 3.48 Cootol. Pit. 3.90 Foils C. Sugar 2.15 S'pore Land 1.38 G. Lumber 0.90 W. Jacks 125 OCBC 8.70 M.Moeaice 102 Sime Darby 3.20 +.13 .05 .04104 words
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1327 1977-05-12 1 SUSAN SEVAN - S. MALAYAN, KINTA HOLDERS SAY 'NO' SUSAN SEVAN THE schemes of arrangement to move the domicile of Southern Malayan Tin Dredging and Southern Klnta Consolidated from Britain to Malaysia were defeated at the shareholders vote taken Jn London on Tuesday. Shareholders of the other two1,327 words
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272 1977-05-12 1 Reuter MANILA, Wed. The Philippine government's top economic policy making body is looking at ways to raise an additional one billion pesos (about SS37O million) this year for development projects and operational expenditures. The National Economic Development Authority (Neda) director general Gerardo SicatReuter - 272 words
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396 1977-05-12 1 89pc profit leap by Harimau but. OROUP profits at Harimau Investments, the closedend fund managed by Oversea-Chinese Banking Corporation (OCBC), yesterday posted audited results for 1976, 89 per cent up from last year at $778,000. The performance is, however, sullied by the fact that it represents a slowdown In growth396 words
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Article205 1977-05-12 1 Reuter NEW YORK, Wed. A US Judge today gave the goahead for the Anglo-French Concorde supersonic airliner to land In New York. US district court Judge Milton Pollack ruled that the ban on Concorde by the managers of Kennedy Airport here was Irreconcilable with formerReuter - 205 words
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Article194 1977-05-12 1 Reuter TOKYO,'Wed. Japanese Prime Minister Takeo Fukuda said tonight the economic difficulties facing the world now were greater than those of the 1930'5. Mr. Fukuda, a financial attache at Japan's embassy In London during the 1930's and subsequently several times Finance Minister, was speakingReuter - 194 words
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Article111 1977-05-12 1 UPI MOSCOW. Wed. The Soviet press said today that the London summit declaration against protectionism was one thing but in fact the reverse already was happening in the capitalist world. The Tast news agency, in a commentary by Viktor Zatsepin, said, "the declaration which was adopted stated InUPI - 111 words
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254 1977-05-12 1 Reuter MELBOURNE, Wed. Prime Minister Malcolm Fraser ordered air force planes to stand by tonight to fly some domestic passengers In a major escalation of a strike which has closed Australian airports. The air force planes would be used tomorrow to ferryReuter - 254 words
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347 1977-05-12 1 THE Post Office Savings Bank wmM back into the interbank money market yesterday but was snubbed by tbe borrowing K»»k« in wkat appeared to be a closing of ranks against an "outsider" wbose status bad still to be made clear. Tbe347 words
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568 1977-05-12 1 IF the Metal Box dispute can be settled within a fortnight and the company goes back to full production, then both Metal Box and the Fraser and Neave Oroup are likely to escape relatively unhurt from the longest strike in Metal Box's568 words
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Article95 1977-05-12 1 SYDNEY, Wed. Bradmill Ltd will study during the next few weeks the possibility of using the Hongkong cotton purchases. general manager for fibres and yarns, Mr. C.S. Simpson said. He said he would not hedge at this time, however, since cotton prices appear to have peaked. He95 words
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Page 1 Advertisements
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Advertisement41 1977-05-12 1 Colour TV is simply great SEE PAGE 2 Oversea* Newt/ TV Radio Overseas News/ Feature Local Co News International Co Newt Local Stocks Overseas Stocks _pj Commodities Transport ft Com_P3 munications P4 Features _P4 reatur PS Local _p« News —pii, 1241 words
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Advertisement95 1977-05-12 1 Hon gLeong f' T IH; i] Hong Leong Finance provides a wide range of financing services that meets today's commercial and industrial needs. With its vast resources, expertise and experience Hong Leong is able to bring professionalism to finance, using it effectively to help new companies get started or established95 words
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Advertisement134 1977-05-12 1 OKI MX-S Marin* hi High tortormanc* Cruising Aid Smvkm A Spam beautiful Pacific to from Singapore to Penang and return or on to Hong Kong. Cathay Pacific hostesses from all over Asia are ready to take you to the unspoiled beauty of Penang. This green and gentle island of Malaysia134 words
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OVERSEAS
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Article145 1977-05-12 2 Reuter DUBLIN, Wed. Ireland will ignore a Common Market demand that It end unilateral restrictions on foreign fishing boats by midnight on Tuesday, Fisheries Minister Patrick Donegan said here. The decision taken at a routine cabinet meeting yesterday almost certainly means that the Dublin GovernmentReuter - 145 words
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Article116 1977-05-12 2 UPI LONDON, Wed. Prime Minister James Callaghan assured Greek Premier Constantlne Karamanlls yesterday of Britain's full support of the Greek application to join the European Economic Community. A short government statement. Issued after a one-hour meeting between Mr. Karamanlls and Mr. Callaghan, said that Mr. CallaghanUPI - 116 words
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157 1977-05-12 2 FRANKFURT, Wed. The German Rubber Industry Association, whose members represent over 90 per cent of rubber manufacturers here, could have a 1977 growth rate In volume sales of only three per cent last year's 6.2 per cent rise to 1.13 million tonnes, chairman Walter Lampert157 words
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Article, Illustration646 1977-05-12 2 FEARS OF BEING DWARFED BY EEC Reuter VIENNA, Wed. Leaders of the slx-natlon European Free Trade Area (EFTA), concerned at the departure of key members to Join the more powerful European Common Market, will meet here on Friday to discuss ways to giveReuter - 646 words
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319 1977-05-12 2 UPI ROME, Wed. Developing country representatives of the UN committee on commodity problems blame f rlce Instability and restrlclve trade measures by developed countries for the poor performance of their exports over the past two years, the UN Food and Agriculture Organisation saidUPI - 319 words
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269 1977-05-12 2 Reuter WASHINGTON, Wed. A Senate committee voted yesterday to breach the 13 year old US trade embargo against Cuba by allowing sales of medicines, agricultural products and food. However, the vote by the Senate Foreign Relations Committee, If confirmed by Congress, would still notReuter - 269 words
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Article107 1977-05-12 2 AP PITTSBURGH, Wed. —A steelmaker pulled back on a price increase yesterday and announced that it would match the lower Increase posted by the nation's lcurgest steelmaker. Youngstown Sheet and Tube Company, a division of Lykes Corporation of New Orleans, said It will increase prices onAP - 107 words
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210 1977-05-12 2 Reuter PARIS, Wed. The results of the London Economic Summit are being given a mixed reception by developing country delegates at the Paris North-South Dialogue between rich and poor nations. Officials from the Group of 19 developing nations involved in the dialogue said today theyReuter - 210 words
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359 1977-05-12 2 Washington Star MORGANTOWN, (Weal Virginia), Wed. —In a move several participant* Mid could precipitate a nationwide coal atrike thia apring, the aharply divided governing board of the United Mine Worker* of America has given coal operator* 24 houre to decide whether toWashington Star - 359 words
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Article269 1977-05-12 2 AP WASHINGTON, Wed. —Good weather this spring means the 1977 American winter wheat crop probably will be substantially better than many forecasters predicted last winter. The US Agriculture Department said yesterday that this year's harvest, based on May 1 computations, will be almost 1.48 billion bushels, downAP - 269 words
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515 1977-05-12 2 Agencies WASHINGTON, Wed. The United States, In a decision dictated by congressional human rights amendments, abstained yesterday for the first time in a World Bank vote on loans for a developing nation. The action came as the World Bank's 18-member board ofAgencies - 515 words
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407 1977-05-12 2 UPI Reuter WASHINGTON, Wed. —The House of Representatives Instructed Its members of a House-Senate Conference yesterday to stand fast on prohibiting Alaskan oil from being exported for two years. The House and Senate passed different versions of the Export Administration Act earlier this session.UPI; Reuter - 407 words
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Article151 1977-05-12 2 AP TEHERAN, Wed. Iranian oil production and exports went down by almost one million barrels per day in April compared to March, a National Iranian OH Company spokesman, Mr. Nezamuddln Mozayenl said today. Terming the lowered April production and exports "routine," Mr. Nezamuddln MozayenlAP - 151 words
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521 1977-05-12 2 AP WASHINGTON, Wed. The United States, anxious to preserve its fragile relationship with China, has refused for the past two years to accept the appointment of a new ambassador from Taiwan, according to administration sources. The officials said that U8 acceptance of aAP - 521 words
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240 1977-05-12 2 Reuter NEW YORK, Wed. The US will take about onethird of the total oil In world trade In three or four years' time compared with about one quarter now, British Petroleum chairman David Steel said. He Hold a Harvard Business School club dinner hereReuter - 240 words
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146 1977-05-12 2 UPI CONNECTICUT, Wed. Governor Ella Orasso signed legislation yesterday prohibiting the supersonic Concorde Jet from landing in Connecticut, except In emergencies. Bradley International Airport, the only air terminal which could accommodate the BritishFrench plane In Connecticut, is Just outside Mrs. Orasso's hometown of WindsorUPI - 146 words
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133 1977-05-12 2 Reuter OSLO, Wed. Companies developing the North Sea Frigg gas field have agreed about 60 per cent of reserves belong to Norway, Norsk Hydro chief executive, Mr. Johan Holte, said. The division has still to be formally accepted by the British andReuter - 133 words
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166 1977-05-12 2 AP WASHINGTON. Wed. Former US President Richard Nixon is willing to explain why his administration made a secret offer of nearly US$5 billion (5512.3 billion) In postwar aid to Vietnam, a Congressman said yesterday. Representative Lester Wolff said Mr. Nixon has agreed toAP - 166 words
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340 1977-05-12 3 Reuter LONDON, Wed. British money supply Is likely to show an Increase In the five weeks to April 20 on the basis of Bank of England statistics which show a 2.5 per cent rise in the banking system's eligible liabilities, banking sources said. Eligible liabilitiesReuter - 340 words
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547 1977-05-12 3 WASHINGTON, Wednesday AP THE average American's personal Income grew by 9.1 per cent In 1976, well above the Inflation rate, the United States Commerce Department reported yesterday. In a report on personal income, the department said that per capita income nationwide IncreasedAP - 547 words
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Article444 1977-05-12 3 WASHINGTON, Wed. Reuter THE majority of a panel of economists said the economy can absorb a recent reduction In some of the Federal Reserve Board's targets for growth in the money supply, despite fears of one panel member that the reduction Is a major threatReuter - 444 words
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345 1977-05-12 3 Reuter TORONTO. WW. Money market rates are showing tome resistance in responding to the half-point cut in Canadian bank rate to 7Vi pet, effective yesterday, dealers said. They said this does not mean there have not bosn any adjustments in rates.Reuter - 345 words
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327 1977-05-12 3 UPI PARIS. Wed. The Paris Stock Market hit its April 29 record low again yesterday two hours after the country's trade unions called a 24-hour nationwide general strike for May 24 to protest President Valery Discard d'Estalng's austerity policy. The stockUPI - 327 words
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501 1977-05-12 3 Reuter JOHANNESBURG, Wed. The South African Reserve Bank will be In a position to alter quite substantially Its gold marketing policy when It changes to monthly reporting of gold reserves from the present system of weekly reporting, banking sources said. However, officialReuter - 501 words
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Article57 1977-05-12 3 Reuter WASHINGTON, Wed. The Treasury Department announced It will pay down US$7OO million (551,680 million) in debt at the weekly auction of three and six months bill next Monday. The Treasury said It will sell US$2.l billion of three months bills and US$3.2 billion of six month billsReuter - 57 words
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284 1977-05-12 3 Reuter TOKYO, Wed. The Finance Ministry is planning to Increase approvals for public yen bond issues by foreign borrowers, possibly to an average of about two a month from the present one a month, ministry officials said. The ministry will probably also approveReuter - 284 words
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Article31 1977-05-12 3 AP TEHRAN, Wed. The government has decreed an 80-km fishing limit off the Iranian coasts along the Gulf of Oman and the Persian Gulf, government officials said today. APAP - 31 words
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Page 2 Advertisements
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Advertisement274 1977-05-12 2 NAVE YOU BEEN TO A JAMES MANTIN SEMINAR YET? "Technolofies now emerging will change the whole nature of society" "Much of the future of Computinf will be distributed processing" "Tlw« it a right way and a wrong way to structure data logically. Moat dotig nars arc doing it wrong to-day,274 words
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Page 2 Miscellaneous
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Miscellaneous4 1977-05-12 2 BriStdw Pino DP>rtC€. Ne*TvoG6*4 words
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Miscellaneous335 1977-05-12 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on May 11 at Singapore airport. Maximum Temperature 31.5° C Associated Humidity 69 Minimum Temperature 23.5° C Associated Humidity 96 Hours of Sunshine 7.25 Rainfall in Millimetres Nil Total Rainfall for the Month 72.7 Total Rainy Days for the335 words
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Page 3 Advertisements
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Advertisement168 1977-05-12 3 Non-stop to New Zealand Non-stop <omfort Non-stop servke Non-stop entertainment There's only one way to get to New Zealand in one hop. Non-stop. The fastest way. The most comfortable way. Every Tuesday and .Saturday. Air New Zealand takes you there. In widebodied DC-10's. With non-stop service because passenger capacity provides168 words
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COMPANY NEWS
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269 1977-05-12 4 FOR the second successive year, labour problems have hit operations at Allied Malayan Development. Because of this the group suffered a heavier pretax loss of *****5,466 last year against a deficit of $714,640 in 1975. The chairman, Mr. Saw Choo Theng says AMD was forced269 words
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Article33 1977-05-12 4 THE Chartered Bank has announced the appointment of Mr. Chee Kok Km, Mr. Gob Tack Hak and Mr. Toauny Tea Choon Yew as sub-accountants and covenanted officers with the bank.33 words
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Article647 1977-05-12 4 Currant Ex Data Total lor Total for 1 »ayment Onto payable the year previous year Central Sugar* 5%I April May 10 5%I Nil Aofcam Tin 10%i Apr 4 May 13 10%I 25% Malayan Tin 24.6%I Apr 4 May 13 24.6%I 67.7% Sthn. Malayan Tin 24.e%i Apr 4 May647 words
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890 1977-05-12 4 UNITED Engineers appears to be In for some hard- times as adverse trading conditions and severe competition have continued In the current year. According to chairman, Mr C.C. Tan, "the prospects of our subsidiaries and associated companies show that the adverse trading conditions previously890 words
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168 1977-05-12 4 UNAUDITED pre-tax profits of Klnta Kellas Tin Dredging rose more than two-fold to M 56.31 million for the year ended March 31, 1977. The substantial Jump In earnings was mainly due to a 97 per cent increase In tin ore sales to 840.86 tonnes168 words
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548 1977-05-12 4 GROUP pre-tax profit at Batu Kawan for the six months ended Feb. 28, 1977 rose a marginal four per cent to M 57.43 million, reflecting depressed oil palm yield by the group as a whole and, In the case of hard-hit subsidiary, Duff Development, lower548 words
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COMPANY MEETINGS
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Article17 1977-05-12 4 May 30, 2.30 p.m.. Straits Trading Building, Leboh Pasar Besar, Kualu Lumpur.17 words
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Article18 1977-05-12 4 May 31, 9.30 a.m.. Registered Office, at the Shipyard, Admiralty Road East, Sembawang, Singapore 27.18 words
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Article15 1977-05-12 4 May 31, 12 noon, Ist Floor, Maritime Building, Collyer Quay, Singapore 1.15 words
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Article17 1977-05-12 4 May 31, 12 noon, at DBS Theatrette, DBS Building, 8 hen ton Way, Singapore 1.17 words
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Article15 1977-05-12 4 June 3, 12 noon 14 Jalan 223, Section 20 A, Petallne Java.15 words
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Article18 1977-05-12 4 June 4, 10 a.m., 6th Floor, Tat Lee Building, 63 Market Street, Singapore 1.18 words
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Article15 1977-05-12 4 Highland Lowland Bhd.: June 28. 12 noon, at the Anggerek Room, Hotel Eauatorlal, Kuala Lumpur.15 words
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20 1977-05-12 4 June 20, 3 p.m., 4 cn Registered Office, No. 50, Jalan Ampang, Kuala Lumpur.20 words
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Article1173 1977-05-12 4 On May 10 TRADING on the Chicago Board Options Exchange came to 114,541 contracts on Tuesday compared with 83,842 contracts on Monday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR Avon Avon Avon Bank Am Bank Am Bank Am Beth1,173 words
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Article674 1977-05-12 4 PAUL DELANEY - By PAUL DELANEY NYT THE most ambitious test of the banking industry's march Into the electronic age is having startup troubles. The bankers' aim here Is to change money and •cheques pieces of paper that cause endless amounts of work In banks into electronic blips. TheNYT - 674 words
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809 1977-05-12 4 NYT NEW YORK, Wed. The shares of three popular technologically oriented stocks University Patent, Energy Conversion and Telecredlt were pounded In Monday's over-the-counter market as rumours of trouble concerning them circulated In Wall Street. The rumours, which appear to have no basis in fact,NYT - 809 words
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121 1977-05-12 4 Reuter WASHINGTON, Wed. The Securities and Exchange Commission said it has settled a complaint with the Banque de Paris et des Pays Bas (Suisse) of Geneva, Switzerland over alleged violations of securities laws. The SEC alleged the bank failed to give required information aboutReuter - 121 words
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102 1977-05-12 4 Reuter NEW YORK, Wed. R.J. Reynolds Tobacco said It would spend US$4O million, which It said was a record sum for the tobacco Industry, to promote a new low-tar cigarette called "Real." The company said media and promotional expenditures for "Real" during Its three-monthReuter - 102 words
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106 1977-05-12 4 Reuter PARIB, Wed. Despite higher foreign currency conversion losses of 299 million francs, Salnt-Gobain-Pont-A-Mousson reported a near four-fold Increase in consolidated net profit to 471 million francs In 1978. in 1975, the company incurred a loss of 94 million francs from foreign currency conversionReuter - 106 words
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Article55 1977-05-12 4 LONDON, Wed. The Standard and Chartered Bank said It completed arrangements for the offering of UBB5O million of floating rate capital notes at par. The coupon, payable semi-annually, will have a K per cent spread over the six month London interbank offered rate with a minimum coupon Of55 words
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Page 4 Advertisements
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Advertisement198 1977-05-12 4 y r i lii 1 MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast198 words
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268 1977-05-12 5 Reuter OSLO, Wed. Norsk Hydro chief executive Mr. Joh&n Holte said the cost to the company of the Ekoflsk Bravo blowout would be less than the cost of a minor strike In one of its aluminium plants. The company has a 6.7 per centReuter - 268 words
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171 1977-05-12 5 Reuter ROCHESTER, New York, Wed. Eastman Kodak announced that it would offer US$lO rebates to buyers of Its Instant cameras and film. The company said it also would offer rebates to photo dealers. Kodak, the world's largest photography supply and equipment maker, said the rebatesReuter - 171 words
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Article68 1977-05-12 5 Reuter SHREVEPORT, LA., Wed. Rucker Pharmacal said it has concluded an agreement to merge Into Boots of Britain for US$l7 in cash per share. The company said the transaction would have a total value of about $25 million and is subject to approval by Rucker shareholders and regulatoryReuter - 68 words
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Article296 1977-05-12 5 Reuter MILAN, Wed. Montedison and its partner Imperial Chemical Industries (ICI) have agreed to abandon a project for an aniline plant at Prlolo in Sicily because of local authorities' refusal to grant a building permit. The refusal, despite government approval of the project and a positiveReuter - 296 words
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Article139 1977-05-12 5 Reuter WOLFSBURO, Wed. Agreement between "Volkswagen and Iran on possible car production in Iran seems unlikely In two weeks because little has changed In recent negotiations, a Volkswagen spokesman said. In November, Volkswagen said It was discussing possible car production in Iran with various potential Iranian partners.Reuter - 139 words
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388 1977-05-12 5 Reuter NEW YORK, Wed. The British Government's shareholding in British Petroleum could be reduced substantially below the planned 51 per cent if BP made a rights issue or acquisition for shares, BP chairman Mr. David Steel told a press conference here. Mr. Steel said heReuter - 388 words
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Briefly
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Article85 1977-05-12 5 TOKYO, Wed. The Tokyo Stock Exchange said the outstanding balance of buying in margin trading on the Tokyo, Osaka and Nagoya stock exchanges on May 7 rose to 817.4 billion yen from 813.6 billion last week. Despite holidays trading was active with Investors anticipating a further rise in the85 words
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Article63 1977-05-12 5 ROME, Wed. Salvage of the state metals group Egam will cost 1.5 trillion lire Instead of the 600 billion forecast by the Government, the committee charged with liquidating the group told a parliamentary commission. Unless the government revises its Salvage project, the two state holding companies asked to take63 words
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Article88 1977-05-12 5 LONDON, Wed. Bodl well 15/28-2 drilled by the Rig Norjarl has been plugged and abandoned and did not encounter hydrocarbons. The well was located In the south west of the block some 5.5 km south west of 15/28-1 which was plugged and abandoned in September 1974. Bodl Is88 words
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Article55 1977-05-12 5 WASHINGTON, Wed. The Inter-American Development Bank said it Elans a public offering of 5)75 million of 25 year bonds, due June 1, 2002. The bank said the offering, expected to be made in mid-May, will be made by underwriters led by Lehman Brothers, Lazard Freres, Goldman Sachs, and Merrill55 words
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Article28 1977-05-12 5 LONDON, Wed. The JaDan Steel Works US$l5 million 7* per cent Eurobond, due 1984, was priced at 99 per cent, Nomura Europe said as lead manager.28 words
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Article71 1977-05-12 5 LOS ANGELES, Wed. W.R. Grace expects 1977 will continue the trend of record and near-record results, president Mr. J. Peter Grade told the annual meeting. Chairman Mr. Felix E. Larkin said the company was optimistic for 1977 because of'an anticipated higher level of economic activity and the71 words
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Article58 1977-05-12 5 PARIS, Wed. Interedec (Bermuda) has signed a subscription agreement with a group of 50 institutions for a 35 million Saudi rlyal nine per cent five year note issue priced at Cr, Arab Finance said as id manager. The issue is guaranteed as to principal by Saudi Research and Development58 words
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Article50 1977-05-12 5 NEW YORK, Wed. A syndicate headed by Blyth Eastman Dillon said it ten-tatively-priced US$2OO million of trlple-A rated Bank America debentures, due 2007, at par with an 8.35 per cent coupon, for proposed offering today. The group said it has set selling concession of $4.75 and reallowance of $2.50.50 words
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Article36 1977-05-12 5 TOKYO, Wed. NOK Insulators said it plans to set up a wholly-owned sales subsidiary in Brussels next month to market in Belgium and other European countries Insulating products made by Its manufacturing subsidiary in Baudour.36 words
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Article34 1977-05-12 5 ATLANTA. Wed. Continental Telephone said it will file a registration statement with the Securities and Exchange Commission In the near future for a public offering of two million shares of common stock.34 words
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637 1977-05-12 5 ROBERT METZ - By ROBERT METZ NYT FOR some time, analysts have been bemoaning the fact that airline stocks have not reflected an industrywide earnings recovery and Improved financial condition of the major lines. But with a firming trend among the stocks last week, the analysts are guessingNYT - 637 words
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Article236 1977-05-12 5 Reuter LONDON, Wed. Unilever reported combined pre-tax profit declined to £129.2 million on sales to third parties of £2.36 billion In the first quarter this year from £133.3 million on sales of £2.09 billion previously. Combined operating profit was £123.4 million compared with £135.4 million. Tax accountedReuter - 236 words
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Article130 1977-05-12 5 Reuter MINNEAPOLIS, Wed. Minnesota Mining and Manufacturing expects continued growth at an average annual rate of 10 per cent In sales and earnings, chairman Mr. Raymond H. Herzog told the annual meeting. He said about 25 per cent of sales will come from [>roducts Introduced InReuter - 130 words
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208 1977-05-12 5 Reuter WASHINGTON, Wed. The Federal Reseve Board, by a 4-1 vote, approved consolidation of Euro-pean-American Bank and Trust Co and EuropeanAmerican Banking Corp into a bank holding company to be called Euro-pean-American Bancorp. The agency attached to the approval, however, conditions requiring the banking corporation toReuter - 208 words
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Article68 1977-05-12 5 Reuter LOS ANGELES, Wed. Mobil made a new bid of U*****.4 million or $37.60 a share to acquire Irvine Co, topping Monday's offer of $309.3 million or $36.75 by Taubman-AUen-Irvlne. Mobil's previous bid was $307.1 million or $36.50 a share. The James Irvine Foundation, Irvine Co's majority owner, saidReuter - 68 words
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Article118 1977-05-12 5 Reuter WASHINGTON, Wed. United Airlines said It has filed a proposal with the Civil Aeronautics Board for a midweek Individual ski tour fare at a 20 per cent discount. The company said the new fare, if approved, would be effective next Jan 1 through AprilReuter - 118 words
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Article120 1977-05-12 5 Reuter PARIS, Wed. Eastern Airlines president Mr. Frank Borman said the airline hopes to buy 50 or more European A3OO airbuses over the next ten years if the planes leased for six months from December were successful. Mr. Borman told a press conference the potential requirement forReuter - 120 words
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Article87 1977-05-12 5 Reuter LONDON, Wed. Anglo American of South Africa said the Rand Selection rights offer was accepted on behalf of about 52 per cent of the 10.56 million shares offered. The balance of the shares will be taken up by De Beers Consolidated Mines in terms of the underwritingReuter - 87 words
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Article442 1977-05-12 5 Reuter NEW YORK, Wed. Pan American World Airways chairman Mr. William T. Seawell told the annual meeting that trends established in 1976 have continued In the first quarter of 1977 and are expected to do so for the rest of the years. In 1976, theReuter - 442 words
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Article270 1977-05-12 5 Reuter MONTREAL, Wed. The decision by Hydro-Quebec to postpone its proposed US$5O million Eurobond issue while offering $100 million in 20-year bonds was coincidental, a spokesman for the utility told Reuters. He said the bond offering did not Include any substitution for the Eurobond issue. Postponement of theReuter - 270 words
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310 1977-05-12 5 UPI DEARBORN, Michigan, Wed. Ford Motor which has been on the Arab boycott list for dealings with Israel, said yesterday that officials are trying to work out details of an agreement to resume building trucks in Egypt for the first time in 11UPI - 310 words
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Advertisement178 1977-05-12 5 even with copies of copies ■'-m iL7 r >>:■ I v- >v i:"" Sharp Plain Paper Copier SH ARPFAX guarantees you quick, sure copy everytime with these added features to make quality reproduction more economical and more reliable. Frustrated with 'poor* reproduction like getting polar bears for pandas? Even with178 words
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Article2175 1977-05-12 6 1*77 Gr's Gr's Net Low Cwapaay Last div Div y'ld P/E Vol Day High Sale +«r- e'n CM Higk Low SECTION ONE INDUSTRIALS 146 138 Acma 141 12.ON 1.1 8.5 7.1 t 133 127 Acma A 128 -1 12.ON 1.1 9.3 8.4 3 128 128 204 2042,175 words
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Article1237 1977-05-12 6 BID and offer prices officially Hated 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 Board1,237 words
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Article1275 1977-05-12 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. IK OUST RIALS Aama 11.40B). A. Chac (0 7481 (2) 073 A.M.O1,275 words
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Article80 1977-05-12 6 STRIKING price* of tbe stock options officially listed oa tbe Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. DBS (June 53.90) (0.02B) (Dec $3,601 (0.358) Inchcspe (June 12.40) «MN» ,S) (12) 0.07. (8)80 words
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Article150 1977-05-12 6 SINGAPORE UNIT TRUST (Managers price* for May 12) v INCOME BOND UNIT (Current price*) The Commerce 1.74 184 The Saving Fund 0.86 0.94 S pore Prog Fund 0 80 0 85 S pore Security Fund 1.45 1.53 8'pore Invest Fund 1.00 106 ASIAN UNIT TRUST (Managers' prices for150 words
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Article163 1977-05-12 6 B O T 7 1/8% 1904 (100,000) (98SB MS) B O T 8 1/2% IMI (100.000) (102HB 102SS) D B S 8 1/2% 1982 (100.000) (100 SB 101 S3) DBS Coaverta 5 1/2% 1991 (100.080) (9TV«B 98SS) E I B 9% 1982 (100.000) (103*B 1048) E I B163 words
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Article104 1977-05-12 6 5 1/2% 1/4/78 (250,000) (101.48B) 5 1/2% 15/4/78 (250,000) (101.358 101.638) 5 1/4% 15/7/78 (250,000) (101.458 101.555) 4 3/4% l/J/79( 250,000) (100.708 100.80S K 10)100.75 7% 1/7/79 250,000) (1O4.05B) 5 1/4% 16/10/79 (250,000) (101.608 101.758) C 3/4% 15/5/80 (250,000) (103.30B) 5 3/4% 1/12/80.(250.000) (103.30B) 5% T F104 words
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Page 6 Advertisements
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Advertisement234 1977-05-12 6 f >//S «h' Sll \'i mmmk tm&kfk l"*'*** ?*3B£fc \/fa■ v: B i i !> 6# '■V--' Alex Jotey has long bean an observer, recorder and commentator of the Singapore scene. In this new book, he examines and explains the success of Singapore's tripartite alliance of Government, workers and employers.234 words
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Article608 1977-05-12 7 MOST of the lower-priced favourites eloeed lower in moderate, selective trading at the Stock Exchange of Singapore yesterday. An opening rally by the receat market leader* proved short-lived as profittakers made the scene in numbers. Feature of the month, Central Sugars appeared to have lost much of608 words
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Article515 1977-05-12 7 A WAVE of selling set in on lower-priced stocks, which to a Targe extent still dominated trading at the Kuala Lumpur stock market yesterday. Profit-taking following two consecutive sessions of sharp advances was believed to be the main reason for the easier trend yesterday. Short-selling in515 words
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INTERNATIONAL STOCK MARKETS
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Article407 1977-05-12 7 HONGKONG: The market closed very firm In active trading with some profit taking more offset by strong buying support, dealers said on Wednesday. Ja-dine Mstheson rose HK3O cents to $17.00 and Wteefeek rose 10 cents to $2,675, Honfkonc Laad 15 cents to $7.85 ana Hutchison five cents to $3.40.407 words
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Article515 1977-05-12 7 TOKYO: Prices closed lower for the fifth consecutive day on liquidations In blue chips and populars. dealers said on Wednesday. The Dow Jones average lost 8.96 to close at 5,079.61 with volume 210 million shares. The New Index closed at 380.19, down 0.56. The market Initially rose slightly reflecting515 words
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Article387 1977-05-12 7 SYDNEY: Bankfng stocks staged a late rally in an otherwise dull market, dealers said on Wednesday. The Sydney All-ordinaries index gained 0.99 points to close at 452.79. ANZ bank gained eight cents to $3.55, The National four cents to $2.84 and The Wales six cents to $5.10. Phillip Morris387 words
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Article138 1977-05-12 7 MANILA: The market recovered moderately on cheap buying In selected Issues after recent weakness, dealers said on Wednesday. Leading gainers were AtUa and Seafront, which posted two point gains, Philippine Overseas and Philex gained one point each and other market leaders held steady. MAY II Pesos Acoje Mining .0135138 words
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Article99 1977-05-12 7 MAY II Bahts Asia Fibre 171 unch Bangkok Bank 297 unch Bangkok Invest 1US Banckok-Metro-DOl Itan Bank Bala 441 +10 Berll Jucker 255 Charoong Thai Wire 158 Dumex DusltThanl 190 Faber Merlin First Trust Indo-Thal Industrial Finance Corp 1205 +40 J And J Ho 221 +1 Jalaprathan Cement 12399 words
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Article301 1977-05-12 7 AMSTERDAM: Shares continued slightly easier In quiet trading on Tuesday. Dutch internationals were mixed with Hoogoveas and Royal Dutch firmer and Philips unchanged. Unilever fell 0.40 guilders ahead of Its first quarter figures while Akso was also lower. KLM rose slightly and Insurances were mixed. Banks, shippings, Industrials and301 words
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Article169 1977-05-12 7 BRUSSELS: Share prices closed Irregular In a quiet market, bourse sources said on Tuesday CBR and TobacoAna, rose, but Sofia*. Traction, Vieille MonUfne, and FN fell while St Roch, which said It expects markedly higher dividend for 1977. was unchanged. In foreign stocks US rose, Germans were steady. Dutch.169 words
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Article306 1977-05-12 7 FRANKFURT: Shares cloaed higher In active trading, on renewed buying from domestic and foreign Institutions, dealers said on Tuesday. VW shares closed In lively trading 5.80 marks higher, while other auto, bank and chemical shares Including BMW, Deatsche Baak and Heeekst firmed up to 1.50 marks. Engineerings gained up306 words
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Article155 1977-05-12 7 MILAN: Stocks showed widespread losses, with operators still waiting until talks between the government and opposition parties clarify the political situation, bourse sources said on Tuesday. Snia Viscosa led Industrials lower, while Assicurssioai Generali, Bastogi and Montedison also fell. Fiat and Pirelli EC were little changed, but both Olivettis155 words
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Article353 1977-05-12 7 PARIS: The market on Tuesday continued Monday's decline in almost all sectors following the announcement of a general strike on May 24 by four of France's biggest unions dealers said. Electricats lost most ground, led by Moulinex, while BP, Pernod-Ricard and Credit Konrirr-lmmobilirr also eased sharply. Foreign stocks lost353 words
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Article287 1977-05-12 7 ZURICH: Shares closed generally easier in moderate trading on Tuesday, with the depressed bond market and the stiu unresolved Kredi tans tall affair dominating factors. Banks continued lower led by Bankgeseliachaft but Kreditanstalt bearer and Leu registered were very steady. Among flnanclals Oerlikon-Buehrle fell on Its forthcoming rights Issue.287 words
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Article381 1977-05-12 7 Jo 'burg JOHANNESBURG: Oold shares eased In quiet trading on lack of interest, dealers said on Tuesday. Heavyweights lost up to 25 cents while lightweight* shed up to ten cents. Financial minings were generally little changed but TC Land* gained 130 cents to 1.860 De Bern was unchanged at 432381 words
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Article308 1977-05-12 7 TORONTO: Share prices closed mixed in moderate trading with the composite Index losing nearly one point and advances leading declines 213 to 185 on Tuesday. Polysar preferred A eased 1/8 to 26-3/8 and Canadian Manoir A fell ten cents to $4.25. Both reported reduced first quarter net. Cornat Industrie*,308 words
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Article1045 1977-05-12 7 NEW YORK: The stock market finished with a modest gain In fairly active trading on Tuesday. While analysts cited no particular news to account for the upturn, they said recent positive news about the strengthening economy Is beginning to offset Inflation worries. US retail sales declined slightly In1,045 words
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Article63 1977-05-12 7 FINANCIAL TIMES INDUSTRIAL Tuesday 463.6 Monday 454.2 Week ago 428.0 DOW JONES AVERAGE INDUSTRIALS Tuesday 936.14 Monday 933 09 Week ago 934.19 LONDON DOLLAR PREMIUM Tuesday 122 to 122 Vb Monday ***** to 122% H.K. HANG SENG Tuesday 477.65 Monday 446.37 Week ago 439.96 SYDNEY INDUSTRIALS Tuesday 364.45 Monday63 words
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108 1977-05-12 7 Reuter TORONTO, Wed. Consolidated Morrison Explorations has agreed with Geometals to provide finance for the exploration of Geometals' uranium area near Cloncurry, Queensland, Australia, the companies said In a joint statement. The agreement will also provide technical expertise for development, production and marketing should anReuter - 108 words
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Page 7 Advertisements
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Advertisement176 1977-05-12 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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COMMODITY REPORTS AND PRICES
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Article419 1977-05-12 8 OPENING quotations in the Singapore rubber market yesterday, were unchanged and later prices advanced slightly on light speculative buying and July/September demand, dealers said. Trading was thin. The morning session closed quiet, with June RSS One buyers quoted at 201.00 cents per kilo, up 0.50419 words
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Article27 1977-05-12 8 Robber: May 11 Singapore: June 200.50 eta (unchanged) Malay* ia: June 201.50 cU (unchanged) Tin: 51.452 (up 99) Official offering: 1M tonnes (down 69 tonnes)27 words
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Article283 1977-05-12 8 (CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY). Coconut OU: Bulk $105 sellers, old drum 1110 sellers, new drum 1115 sellers. Copra: Mixed (loose) UK/Cont 108 buyers. Pepper Muntok ASTA white f.o.b. 100% NLW *385 sellers, Sarawak white f o b. 96* NLW $375 sellers, Sarawak283 words
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Article402 1977-05-12 8 THE Malaysian Minister of Finance has fixed these duties from May 12 until further notice: Rubber 89 cts a lb C>pra $1,128 a ton Palm Kernal $235.25 a ton The rates of duties payable are: Rubber 9% cts a lb Surcharge 4% cts a lb (Total 15% cts402 words
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Article95 1977-05-12 8 June July R.A.S. (Current MUO (Forward Mtfe) Buyer* MlM Buy* r* Seller* (CCBtl iparkg) ■U parks' SSR20 (1-ton Pallet) 195.00 196 OOS 196.50 IT/. SON SSR50 (1-ton Pallet) 192 50 193.SON 194.00 195 OON M.R.E.L.B. SMR 5CV (1-ton Pallet) 221.50 223 50N 223.50 225 SON SMR 5L95 words
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Article100 1977-05-12 8 HONGKONG, Wed. Cotton futures closed higher but below the day's highs, after recovering rapidly on buying support from an easier opening, dealers said. December showed the largest gain of 0.94 cents, with the other traded months October, March and July rising between 0.30 and 0.35 cents. Turnover rose100 words
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Article124 1977-05-12 8 THE following oalm oil price* were quoted in London on Tuesday. The price* are elf Rotterdam and are quoted in US dollar per ton unlet* otherwise *tated. Tuaa4ay Pre*. Malaysia 5% (fa bulk 662.60 sir Jul/Aug 660 sir Sumatra 5* 675 sir May «70slr/670pd Jun 810 slr/670 pd124 words
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Article142 1977-05-12 8 THE Straits tin price in Penang yesterday was up $9 to $1,462 on an official offering down 69 tonnes to 196 tonnes. In London, yesterday, tin closed £15 up for Cash and £30 higher for Three Months In both contracts. Dealers said earlier modestly higher prices reflected the142 words
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Article339 1977-05-12 8 LONDON, Wed. Copper showed gains of mostly £9 for wlreb&rs in the morning, with Three Months trading finally at £840.50. Dealers said prices were marked higher at the outset In line with the overnight close of US futures. Profittaking and hedge selling were well absorbed despite generally quiet outside339 words
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Article324 1977-05-12 8 IN the Singapore gold market yesterday, the kllobar was dealt in the range of 5511,780 to Ssll,Boo. The loco London was quoted at U*****.80/148.10 in dull and spiritless trading. The London morning fix was U*****.60, up 10 cents on the previous fix. Source: Siwrmu Retail prices per tael quoted324 words
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Article432 1977-05-12 8 LONDON, Wed. Futures ended the morning opening session £13 higher to £15 lower with the two near months unchanged against last night. 460 lots were traded and the market tone was "steadier." Opening losses of £40 to £50 were soon erased as short-covering and fresh buying Interest developed In432 words
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Article99 1977-05-12 8 LONDON, Wed. Zinc was £0.25 up for Cash and £0.25 down for Three Months In the morning. Zinc lacked fresh feature and prices generally followed the trend of other metals In rather thin dealings. Ring sales were 700 tonnes. In the pre-market, Three Months traded up to £390 per99 words
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Article140 1977-05-12 8 CHICAGO, Wed. Soybean futures returned to the downward path yesterday and finished with 30 cent a bushel losses in old crop months and September. Other new crop contracts were off 17 Vi to 16 cents a lb. Prices fell early, mainly under the weight of commission house selling, with140 words
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Article94 1977-05-12 8 CHICAGO, Wed. Wheat futures extended their decline yesterday to close at new seasonal lows. Losses ranged from five to 6-1/4 cents a bushel. Early speculative selling pushed prices through the new lows posted on Monday with the weakness in soybean futures bolstering selling ideas. Traders also noted the continued94 words
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Article212 1977-05-12 8 LONDON, Wed. Silver rose 2.4 to 2.8 pence per troy ounce In the morning opening session. Higher values Initially reflected overnight gains In New York, dealers said. Prices subsequently fluctuated within modest limits in light trading with carries forming the bulk of turnover of 73 lots. Three Months closed212 words
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Article88 1977-05-12 8 LONDON, Wed. Lead was £3.75 lower for Cash and £0.25 down for Three Months in the morning. Dealers said the market was steadier during early dealings which they attributed to the trend in copper. However, the higher levels soon attracted profit- taking and this, coupled with freer offerings of88 words
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Article170 1977-05-12 8 LONDON, Wed. Terminal sugar had morning opening call losses from last night of £1.15 (near Oct at £136.80 bid) to £0.70 although prices were marginally up from kerb levels. Dealers said the market lacked fresh feature. Both the London dally raws and whites prices were unchanged at £128.50 and170 words
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Article219 1977-05-12 8 BANGKOK, Wed. —Indicative prices for rice quoted in Bangkok in US dollars per tonne fob basis Bangkok were: White Rice: 100 per cent Ist class 284 100 per cent 2nd class 287 100 per cent 3rd class 282 -5 per cent 252 10 per cent 232 15 per cent219 words
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MONEY AND EXCHANGES
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Article538 1977-05-12 8 STRONG demand for US dollar deposits continued yesterday In Singapore, when the ACU/USS Interest rates opened '/«point higher from Tuesday's close. The rates shot up by another 1/16 to of a point higher across-the-board from the opening levels when the London market opened. At later stage, however, the Singapore538 words
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Article101 1977-05-12 8 Asian rates ASIAN currency deposit Interbank rate* u at cloae on May 11 USDailar Ofhr a (Spat) Bid 7<teys S 3/8 lmth S 5/18 2 mtha 5 1/2 3 mtha SI/I 5 3/4 6 mtha a i/4 8 1/8 9 mthi 8 1/4 12 mtha 8 3/8 Via. (■MO** Dm.101 words
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Article45 1977-05-12 8 HANOE of price* offered by dlscount houses on May 11 Overnight 1H to 3* Call deposit 3S Q|g||( Bay Mtag 3-month Treasury bills 3 2% 3-Montn Bank bills 4 lh 3-Month CD < 4 116 6-month CD 4 7/164 5/16 Source: National Discount Co Ltd45 words
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Article77 1977-05-12 8 Euro rates LONDON, Wed. Period Eurodollar deposit rates opened generally higher In fairly active trading while shortdates continued steady and quiet, dealers said. Most time deposits were around 1/16 to 1/8 higher while Three Months opened steady with the loss of a Friday end of period offsetting the firmer tone.77 words
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Article39 1977-05-12 8 THE Monetary Authority of Singapore (MAB) Invites banks and discount houses to tender for $30 million 91day Treasury Bills to be Issued from May 16 to May 20. Each tender must not be less than $250,000.39 words
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Article215 1977-05-12 8 NEW YORK, Wed. The dollar closed stronger here yesterday and extended its gains in thin late trading on the North American west coast in a sudden move to unwind positions taken ahead of the economic summit in London last weekend, dealers said. The guilder came under Krtlcuiar pressure,215 words
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Article250 1977-05-12 8 LONDON, Wed. —The dollar gained ground in early trading here, reflecting the trend towards firmer US short term money rates and renewed unwinding of short dollar positions taken before the London summit, dealers said. The guilder was an especially weak spot, dropping to 2.4715/30 from Its overnight 2.4590/4610, while250 words
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Article155 1977-05-12 8 TOKYO, Wed. The dollar for overnight delivery firmed, closing at 277.65 yen, unchanged from the opening but up from 277.35 overnight. The US unit, after opening higher on import covering, fell to 278.05 at one stage as foreign banks sold dollars to covering earlier yen sales, dealers said. Some155 words
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Article110 1977-05-12 8 HONG KONQ, Wed. The US dollar rose to HK54.6705/25 from 4.6620/40 yesterday, following active buying support this morning, dealers said. The mark was active and closed at 2.600/70 against tne US dollar from 2.3669 midpoint equivalent, while other currencies weie fairly quiet and steady on their New York closes.110 words
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Article62 1977-05-12 8 Minimum lending rates (in ACBO 0* 6 3 Algemene Bank 6* Citibank 0*4 Bangkok Bank .7 HSBC 7 Bank of America 6*4 Indosuez 0*4 Bank of China .7 Malayan Banking 0*4 Bank of Tokyo 0* Mitsui Bank 0 l 4 Bank Negara Indonesia 7 OCBC OUB 6*4 0*4 Chartered Bank62 words
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Article48 1977-05-12 8 AUSTRALIA/NZ exchanges quoted on May 11 Australia: Sterling 0.6452/0.6382 US dollar 1.1059/1.1011 Ninety-day air mall buying rates: Sterling 0.6633 US dollar 1.1309 Ninety-day forward buying rates: Sterling 0.6431 US dollars 1.0942 New Zealand: Sterling 0.5596/0.5565 US dollar 0.9667/0.9567 Ninety-day forward rate. Sterling 0.5689 US dollar 0.974248 words
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Article42 1977-05-12 8 ZURICH exchanges closing quotes on May 10 US 2.5205-5215 UK 4.3320-3350 Can 2.4045-4065 W Germ 106.77-85 Neth 102.45-55 France 50.88-92 Belg 6.97 V.-98 Denm 42.06-10 Norw 47.77-81 Swed 57.95-99 Italy 0.2841-2844 Austria 15.01-03 Port 6.50-52 Spain 3.65'/»-66K Arg 0.65-80 Japan 0.90*«-914442 words
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Article32 1977-05-12 8 FRANKFURT exchanges opening quotas on May 11 US 2.3673/83 Can 2.2580/2600 UK 4.066/076 Neth 95.80/90 Swltz 93.65/75 Italy 2.666/676 France 47.75/85 Norw 44.78/84 Belg com 6.53/54 Belg fin 6.525/545 Japan 0.8515/3032 words
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Article309 1977-05-12 8 LONDON, Wed. Dollar bonds were basically unchanged In little turnover, dealers said. Convertible bonds were fractionally lower on lack of interest. LONDON Eurobond prices quoted on May U StriifkU Bid Offer I Austria 8% 90 101* 101% Bell Canada 8% 86 104% 105'-. BFCE8%83 101* 102* I Brazil309 words
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Page 8 Advertisements
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Advertisement220 1977-05-12 8 FOULKS LYHCH-lomoon in association with FEDERAL PUBLICATIONS is pleased to announce the inauguration of a local home study centre that will be of special benefit to all accountancy students in South East Asia. Combining the international experience of Foulks Lynch with the specialised local knowledge of Federal Publications, this new220 words
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TRANSPORT AND COMMUNICATIONS
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Article170 1977-05-12 9 BONN, Wed. The West German private air charter Industry will be strengthened considerably as a result of the takeover of Bavaria Germ an air by the Hamburg and Bremenbased shipping and travel group Hapag-Uoyd. The deal has been submitted to the Federal cartel office for170 words
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Article68 1977-05-12 9 Reuter LONDON, Wed. British rail has claimed a new world diesel speed record in the year of Queen Elizabeth's Jubilee with its new 200 km an-hour train. On a special Silver Jubilee run from Bristol to London on Saturday the train covered the 188 km inReuter - 68 words
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Article77 1977-05-12 9 Reuter NEW YORK. Wed A fuelsaving device which allows vehicles to operate on any number of cylinders between four and eight is being tested here and will be Introduced In some commercial vans and trucks next year. The Eaton Corporation, which developed the system, said It canReuter - 77 words
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Article, Illustration330 1977-05-12 9 NICOSIA, Wed. YOUR champagne has spilled in your lap and the captain has Just apologised for the "air turbulence" that caused the alrolane to suddenly drop in altitude. What you may never know, and what your pilot may even not know, is that your plane330 words
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117 1977-05-12 9 AIR New Zealand has opened Its first UK provincial office In Manchester. Mr. Mike Car berry, with 14 years' experience In the travel industry, has been appointed manager. He was previously sales representative for 10 years with British Airways. Air New Zealand currently has a117 words
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684 1977-05-12 9 AP their image these days, after two major aviation disaster that put their job In the headlines: the ground collision at Tenerlfe, Canary Islands, that killed 580 people and a midair collision over Zagreb, Yugoslavia, last September that claimed 161 lives. InAP - 684 words
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Article, Illustration408 1977-05-12 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Cherry Victor (Tanker) (0500 after SBS III) 42/43 Cherry Vllja (B. Barge) (after SBS HI sails) 48 Chidambaram (1000 after Ibn Majld) 47 Jalamorarl (0600 after Perseus and Straat Fremantle) 8/9 King Tower (0600) 22 Kota Slngapura (1800 after Joan D'arc) 46 Mozhaysk408 words
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Article145 1977-05-12 9 THE Port of Singapore Authority Maritime Museum at Sentosa Is currently holding a ship modelling exhibition to give the public an idea of how ships are built. The one-month exhibition, the fifth in the series organised by the museum, enhances the atmosphere at the museum and gives145 words
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Article243 1977-05-12 9 MACGREGOR, the cargo transfer and access equipment company, has won an order from Nederlandache Scheepvaart Unie (NSU), for two of the world's largest stern quarteri ramps. These are for two 20,000 dwt, 4,500 linear metre roll on/roll off (ro-ro) veasles being built for NSU, the leading243 words
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Article151 1977-05-12 9 AP LONDON, Wed. Time chartering overshadowed an otherwise quiet London freight market yesterday. Business of that type particularly concentrated on the European delivery area where several liner comBnles booked tonnage for ips out. Safmarine, for Instance, paid U553,700 per day to the 13,275-tonne dw City Of LiverpoolAP - 151 words
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209 1977-05-12 9 AP TOKYO, Wed. A five-day exhibition of British car components and accessories opened at the British Export Marketing Centre In Tokyo yesterday. The exhibition, the second to be held here, Is sponsored by the British Society of Motor Manufacturers and Traders (BMMT). FourteenAP - 209 words
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Article114 1977-05-12 9 AP TEL AVIV. Wed. Israel Is planning to manufacture It* own helicopter within the nest (our years, the general manager of Israel Aircraft Industries (IAI) said yesterday. Mr. A 1 Schwlmmer told newsmen the helicopter would be made partially under license from a foreign company andAP - 114 words
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Article50 1977-05-12 9 Reuter LONDON, Wed. UK car production totalled 126,000, seasonally adjusted, In April against 93,000 In March and 111,000 In April 1976, preliminary Industry Department figures show. Commercial vehicle output fell to 31,300 from 34,900 In March but was higher than the 30,400 produced In April 1976. ReuterReuter - 50 words
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Article562 1977-05-12 9 ARRIVALS Service Operator Nuiabcr Local TIbm Prom CPA CX003 0145 HKG MAS MH882 0810 KCH PAA PA847 0830 SFO/HNL/ GUM CPA CX710 1000 HLP SIA SQ211 1015 HLP GIA GA980 1030 HLP GIA OA906 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES RBA BI325 1155562 words
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Article245 1977-05-12 9 BARBER Blue Sea, incorporated in Norway, is a subsidiary of the well-known Wilh. Wilhemsen (roup which has wide interests in liner shipping and the offshore oil industry. BBS plies the Singapore/ Atlantic route and operates as many as 14 combination vessels (capable of container and non-container cargo),245 words
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Page 9 Advertisements
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Advertisement200 1977-05-12 9 Give us a man foramonthwe'll give him a language for life now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in a language200 words
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1117 1977-05-12 10 VINCENT BUIST - By VINCENT BUIST Reuter NORWEGIANS are finding that an oil boom Is a mixed blessing. Aside from dramatic problems'llke the blowout at the Bravo rig In the huge Ekoflsk field, there are less obvious social strains affecting both residents and oil workersReuter - 1,117 words
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Article, Illustration1017 1977-05-12 10 CLYDE FARNSWORTH - G-5 an almost clandestine grouping of finance ministers By CLYDE FARNSWORTH IT'S THE most elusive and exclusive monetary club in the world, an International skull and bones that meets In French chateaux, English country houses or on presidential yachts on the Potomac when Presidents still used them. Like those tapped1,017 words
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Article, Illustration861 1977-05-12 10 JOHN MADELEY - Office equipment —growth sector for the exporters By JOHN MADELEY ONE OF the largest potential markets for exporters to Europe Is office equipment. The building of many new office blocks In European countries Is bringing a big demand for essential office products. At the same time, the replacement and modernisation861 words
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Article981 1977-05-12 10 JACK GEE - THE French Government is staking its survival on an emergency recovery plan which is going to cost a great deal of money. Among other things, it offers generous lump sums to immigrant workers to go away, and cash incentives to retire five years early. inFT - 981 words
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Page 10 Advertisements
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Advertisement447 1977-05-12 10 «»is 5 1 as a J«4 i »*.t <*'i >s "4 "4 THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the fettered mind; the thoughts and theories that have447 words
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875 1977-05-12 11 REDEVELOPMENT of the Arcade, one of Singapore's oldest landmarks, seems unlikely to begin this year despite an earlier statement by the owners of the property, Slngapura Developments Pte Ltd, that work will start In the middle of this year. The Arcade which occupies875 words
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425 1977-05-12 11 UPI TOKYO, Wed. Japan's Lower House of Parliament late yesterday approved by a majority vote the long-pending bill to ratify a Japan-South Korea continental shelf agreement and immediately sent it to the Upper House for further deliberation. The ruling Liberal Democratic Party (LDP),UPI - 425 words
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Article284 1977-05-12 11 Reuter TOKYO, Wed. Three Japanese firms jointly received a two billion yen (5517.8 million) order from the Saudi Arabian government for a floating desalting factory capable of turning out 2,000 tonnes of fresh water a day, Kawasaki Heavy Industries said. The facility Involves three desalting plantsReuter - 284 words
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Article179 1977-05-12 11 Reuter TOKYO, Wed. Federation of Bankers Associations president Mr. Shuzo Muramoto said Japanese and Chinese banks might Increase their deposits with one another to finance a long-term trade agreement to be negotiated between tht two countries. Broad agreement to conclude the long-term accord, to exchangeReuter - 179 words
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Article117 1977-05-12 11 Reuter TOKYO, Wed. Kobe Steel said It has agreed to buy 4.8 million tonnes of crushed iron ore (splinter feed for pelletlslng plants) from Samalco Mlneracao, a Brazilian Iron mining firm, over 10 years beginning from April 1 this year. A formal contract Is likely toReuter - 117 words
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Article119 1977-05-12 11 Reuter TOKYO, Wed. Japan and the US have failed to reach an agreement on restrictions on Japanese colour television exports to the US at talks In London, Japanese trade and Industry sources said. Talks between Mr. Minoru Masuda, ViceMinister of Trade and Industry, and US presidential-Reuter - 119 words
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Article71 1977-05-12 11 Reuter TOKYO, Wed. Bankruptcies in Japan in April fell to 1,583 from a record 1,705 In March, but rose from 1,205 In April last year, the Tokyo Commerce and Industry Research Company said. The company, whose figures are used by the Bank of Japan in its bankruptcy statistics,Reuter - 71 words
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Article134 1977-05-12 11 AP TOKYO, Wed. The Japanese government's Overseas Economic Cooperation Fund (OECF) has extended a 14,000 million yen (Ssl24 million) trade credit to Bangladesh, an OECF spokesman said today. The spokesman said a contract signed here yesterday between OECF and Bangladesh stipulated the credits willAP - 134 words
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Article128 1977-05-12 11 Reuter TOKYO, Wed. The Ministry of Posts and Telecommunications will cut Interest rates on postal savings, probably effective on or around May 21, a Ministry spokesman said. He said the new rates on time deposits will range from 4.25 per cent for six months, down from fiveReuter - 128 words
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Article41 1977-05-12 11 Reuter TOKYO, Wed. Japan's preliminary housing starts in March rose by 11.3 per cent to 118,000 from an upward revised 106,000 In February, but were 1.5 per cent below the 119,800 In March last year, the Construction Ministry said.Reuter - 41 words
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264 1977-05-12 11 UPI ISLAMABAD. Wed. Prime Minister Zulflkar All Bhutto yesterday said he has "hard evidence" of U8 Involvement In Pakistan's political crisis which has resulted In more than 270 deaths. Speaking to newsmen In his office In the parliament building Mr. Bhutto said "foreignUPI - 264 words
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Article227 1977-05-12 11 Reuter SEOUL, Wed. South Korea's exports rose by 0.1 per cent In April compared with March to US$77B million (SSI.O billion) following rises of 10.1 per cent in March and 13 per cent in February, official figures showed. The April total, which was 24 per centReuter - 227 words
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Article219 1977-05-12 11 TEHERAN, Wed. Iran and South Korea today called for resumption of South-North Korea dialogue as soon as possible in the interest of peace on the Korean Peninsula, a Joint communique today said. The communique was issued at the end or a five-day official visit to219 words
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Article214 1977-05-12 11 MR David Ranee, technical director of MK Electric Ltd., has called for an "extremely professional approach" to control the use of electricity so that Its benefits can be made safely available to all. During yesterday's session of the Safety and Reliability seminar held at Shangri-La214 words
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Article107 1977-05-12 11 HUP Soon Construction Co. yesterday filed a suit at the High Court against Li-Ta Co., claiming $95,000 allegedly due under a contract. Multi-Corporation is also suing Kal Union Shipping for $73,132. 21. In another suit General Precision Tools is claiming 950,613.85 from Seaservices. while Maritime Surveyors107 words
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497 1977-05-12 11 AP NEW DELHI, Wed. President Jimmy Carter and India's new Prime Minister have started an exchange of messages pointing towards a better relationship between the world's two largest democracies. While preparing for the London summit, Mr. Carter sent a long and evidently warm letterAP - 497 words
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Article73 1977-05-12 11 THE Stock Exchange of Singapore "Companies' Handbook 1976" Is now on sale. The handbook Is the official organ of the SES and firovldes vital facts and lgures of all companies listed on the Exchange. Over 1,000 pages of the book, priced at $18. are devoted to the73 words
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Article84 1977-05-12 11 A "HOW to Export" guide has Just been released by the Singapore International Chamber of Commerce which gives a checklist of factors to be considered by exporters. Among the topics covered are methods of finding markets, who to send abroad, how to sell, overseas import regulations, OSP,84 words
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Article76 1977-05-12 11 A FIVE-DAY seminar on the design, management and future of distributed processing, data base, teleprocessing and network systems, will be held at Shangrl-la from June 13 to 17. The seminar will be delivered by computer systems designer, Mr. James Martin, as part of his world programme. Mr. Martin76 words
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Article60 1977-05-12 11 THE National Productivity Board will be presenting a course on "Process Control and Instrumentation" at the National Productivity Board from June 13 to 24. The course will cover Introduction and general concepts, basic controlled variables and their measurements, fundamentals of process control, practical demonstration of control systems, controllers,60 words
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Article, Illustration382 1977-05-12 11 TRI-MARINE Associates, a Joint venture between Italian and Korean interests, is to expand Its refrigerated warehousing capacity in Jurong to facilitate a planned aggressive sales programme to be launched soon. The company, which buys, processes and then reexports the tuna fish, is to increase Its382 words
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Article210 1977-05-12 11 PALM and Vegetable Oil (M) yesterday confirmed market reports it was shipping 37,000 tonnes of palm oil to India in May. Managing director K.K. Sharma said by telephone from Penang he estimated total Indian palm oil purchases at between 40,000 tonnes and 50,000 tonnes a month210 words
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Article176 1977-05-12 11 Reuter KUALA LUMPUR, Wed. Large Increase in buying of Malaysian palm oil by the EEC, Japan and several smaller markets Including Australia, Burma, Turkey and Kenya more than offset a fall In US purchases last year, the OH Palm Growers' Council of Malaysia said. ItsReuter - 176 words
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Article79 1977-05-12 11 NEPTUNE Leo, a 91,600 dwt tanker built for Neptune Orient Lines (NOL) by Jurong Shipyard Ltd (JSL), will be launched this Saturday morning at the shipyard. Neptune Leo is the third of a series of four tankers that JSL was commissioned to build for NOL. The last79 words
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Page 11 Advertisements
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Advertisement269 1977-05-12 11 APPOINTMENTS PHILIPS Our large well-established, multi-national Company continues to expand. We seek a suitable candidate to fill the position of ti* Engineer (Mechanical) A qualified engineer with a degree in Mechanical Engineering or its equivalent. The Job: Design and fabrication of tools, equipment for new television project; rendering of technical269 words
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Advertisement359 1977-05-12 11 A fast expanding international manufacturing company require an ACCOUNTING MANAGER The Job: Runs the Accounts Department which responsibilities include budgeting and budgetary control, keeping financial records and preparation of periodical financial statements, managing the cash flow and cost accounting for the various manufacturing divisions. An immediate task is to prepare359 words
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1171 1977-05-12 12 LONDON, Wed. The hearing of Richard Taking's application for a writ of habeas corpus took a surprise turn in a London appeals court yesterday when counsel for the Singapore Government announced that it would not be pressing for action on1,171 words
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358 1977-05-12 12 Reuter KUALA LUMPUR. Wed. Malaysian Prime Minister Datuk Hussein Onn today launched a national cooperative as a base for participation of bumiputras in economic activities, and immediately warned political leaders not to exploit the cooperative for personal gain. He urged all Malays toReuter - 358 words
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Article754 1977-05-12 12 LONDON, Wed. Equities retreated In reaction to a bout of profit-taking but government bonds firmed In a thin market, dealers said. At 3.00 pm the Financial Times Index was down 6.4 at 457.2 Falls among equity leaders ranged to lOp, but Unilever was 22p lower still reflecting Its754 words
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96 1977-05-12 12 Reuter HONGKONG, Wed. Anderson (Holdings) and Asia Stone said they are holding discussions which may lead to Anderson making a share offer for Asia Stone. The companies, both subsidiaries of Hutchison International, said in a statement they have requested suspension of their shares on.Reuter - 96 words
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Article88 1977-05-12 12 Reuter TOKYO, Wed. Chuo Electronic said it received an order to equip Hongkong's Far East Stock Exchange with an electroni-cally-controlled system to computerise securities trading. The system, which includes a display board, will be installed in the exchange 3 May next year to handle 1Reuter - 88 words
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Article74 1977-05-12 12 Reuter HONGKONG, Wed. Hongkong's gold bullion imports fell to 79,138 ounces in March from 135,026 in February and 242,725 In March 1976, government officials said. Gold bullion re-exports also fell to 2,060 ounces from 3,595 In February and 14,640 In March last year. Total bullion imports InReuter - 74 words
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Article177 1977-05-12 12 UPI KUWAIT. Wed. Iran and Venezuela have Issued a joint appeal to King Khaled of Saudi Arabia to change his country's oil price policy in an effort to end the twotier system In the Organisation of Petroleum Exporting Countries, the newspaper Al Watan said today. TheUPI - 177 words
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Article96 1977-05-12 12 THE Stock Exchange of Singapore yesterday announced that the SES committee Is suing the London Times for alleged libel In connection with a report on a speech made by the Prime Minister, Mr. Lee Kuan Yew, on March 26. The SES added that It Is suing Reuters96 words
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341 1977-05-12 12 AFTER its application for a branch in the South Korean capital of Seoul is approved, International Baak of Singapore a consortium bank of the Republic's "Big Four" is moat likely to turn to Taiwan for its next overseas branch. Marheting studies carried out341 words
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Article50 1977-05-12 12 TOKYO, Wed. A government trade delegation from India arrived in Pyongyang yesterday for a visit to North Korea, a North Korean broadcast reported today. The Korean Central News* Agency said the mission Is led by Mr. Prem Kumar, Joint secretary to the Ministry of Commerce.50 words
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317 1977-05-12 12 WORK has started on Phase II of the Port of Singapore Authority's (PSA) Paslr Panjang complex. This phase, which continues the development of wharf facilities begun in the first phase, will be handled by Loh, Daiyo and Mitsui, a Joint venture operation involving three317 words
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401 1977-05-12 12 PASIR Panjang Wharves (PPW), the Port of Singapore Authority's (PSA) newest gateway, Is fast becoming the new centre for regional trade with a continuous upward trend for cargo handled and vessels calling at the port since Its inception In late 1074. From401 words
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Article151 1977-05-12 12 Reuter HONGKONG, Wed. Hongkong's existing container terminal berths may reach capacity by the end of next year and their number may be Increased, a Government spokesman said. Hongkong already has five container berths which last year handled 1.03 million 6m equivalent con- talners, and It IsReuter - 151 words
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606 1977-05-12 12 Data processing we may assume lead SINOAPORE is ahead of any other South-east Asian computer centre for offshore data preparation. Eventually, it may emerge as the leading centre for data processing In the region, a position currently held by Hongkong. The Asian Computer Yearbook 1977, In its regional round-up, says606 words
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213 1977-05-12 12 Reuter CANBERRA. Wed. The Australian balance of payments moved Into a surplus of US$lB million (5544.3 million) In April from a revised deficit of $148 million In March as measured by net official monetary movements, the Statistics Bureau reported. This compared with a $80 millionReuter - 213 words
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Article223 1977-05-12 12 VOLVO Far East is moving its regional headquarters from Hongkong to Singapore. The move, said Mr. Nils Erlcson, area director of Volvo Far East, Is being made for operational reasons. This is because Volvo Is concentrating its efforts on the Asean region and already has223 words
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Article119 1977-05-12 12 THE Singapore National Trade Union Congress tof ether with the Internalonal Institute for Development, Co-opera-tion and Labour Studies, have organised a workshop on Humanlsatlon of the Trade Union Movement scheduled to start today. Participants number 40 and are key trade unionists closely associated with the NTUC's119 words
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Article109 1977-05-12 12 THE Minister of National Development and Communications, Mr. Llm Kim San, yesterday told SAF officers that the retaliatory powers of modern weapons can stay the hands of even the most reckless aggressor provided he is convinced they have the ability and the will to use them.109 words
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174 1977-05-12 12 INCHCAPE Trading Associates (Itapl), until now "just a big spender" in the market, is making a concerted effort to get better mileage out of its advertising. The move will involve a headhunt for an advertising manager who will help Itapl establish a174 words
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Article62 1977-05-12 12 JOHORE BARU, Wed. The Ms 22 million Sungel Lebam dam in east Johore will be completed by the end of this year, sources here said today. The dam will have a capacity to supply 32 million litres of water a day. It will serve five new development areas62 words
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Advertisement221 1977-05-12 12 ASIA COMMERCIAL BANKING CORPORATION LIMITED INCORPORATED IN SINGAPORE Notice of Meeting NOTICE IS HEREBY GIVEN that the 18th Annual General Meeting of the Shareholders of this Company will be held at the Registered Office, 104-108 Robinson Road, Singapore 1, on Friday, 27th«May 1977, at 11.00 a.m. to transact the following221 words
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