The Business Times, 11 June 1977

Microfilm: NL9307
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 SATURDAY, JUNE 11, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Citibank holds its rate
      98 1 AP NEW YORK, Fri. Citibank, the second largest US commercial bank and the trend-setter In recent Increases In the prime lending rate, said today It has changed Its formula and is holding its prime at 6% per cent. Citibank, which has initiated the last two prime
      AP  -  98 words
    • Article
      Lock icon Joint oil projects?
      71 1 UPI KUWAIT, Fri. Kuwait and Indonesia are currently studying the possibility of setting up joint petroleum projects, Including an 611 refinery in Indonesia, Oil Minister Abdel Muttaleb A 1 Kazemi said In an interview published today. Mr. Kazemi told the newspaper A 1 Anba that Kuwaiti participation
      UPI  -  71 words
    • Article
      Lock icon $273 bil for the military
      62 1 UPI WASHINGTON, Fri. The Senate defence appropriations sub-committee today recommended US$lll billion (***** billion) for the military in fiscal 1978, a cut of $2.9 billion from President Carter's budget. The giant money bill gives the administration most of the weapons systems that were requested, including
      UPI  -  62 words
    • Article
      Lock icon French anti-trust move
      58 1 AFP PARIS, Fri. The French Parliament today adopted measures to supervise company concentrations and halt illicit agreements between firms. The legislation is designed to stop companies pushing up prices as a result of a monopoly situation, and some observers compared it to antitrust arrangements in force in
      AFP  -  58 words
    • Article
      Lock icon Seven die in clash
      77 1 AFP NEW DELHI, Fri. At least seven people were killed and several others Injured In clashes today between supporters of rival political parties as the three-day poll in the Bihar state legislative elections opened, Samachar news agency reported here. Quoting official sources in the Bihar state
      AFP  -  77 words
    • Article
      Lock icon Italy draws $370m
      54 1 AFP ROME, Fri. Italy has taken up US$l5O million (***** million) of the October 1974 standby credit of $2,000 million granted by West Germany, banking sources said here today. Collateral was provided by part of the Italian gold stock, the revaluation of which enabled Italy to obtain
      AFP  -  54 words
    • Article
      Lock icon Dow Jones
      59 1 AP NEW YORK, Fri. The stock market moved ahead this morning, aided by the decision of New York's Citibank not to raise its prime rate. The Dow Jones average of 30 industrials climbed 0.85 to 910.70 In the first half hour. Gainers took a 3 to 2 lead
      AP  -  59 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      188 1 IMPROVED sentiment taw most counters finishing higher in fairly active trading on the Stock Exchange of Singapore yesterday. Renewed buying pushed the market forward with the volatile issues leading the way. At the close, the Business Times index showed a gain of 7.89 points to 320.80 and
      188 words
    • Article
      In Kuala Lumpur
      110 1 Rises Most active C.Sugars 3.30 .24 G. Lumber 870.000 Matsushita 2.38 .18 Haw Par 781,000 Hong Leong 2.60 .15 A.P.I '688.000 M Flnnr 7 Q8 .13 Pari fir n»v 482 000 Haw Par 120 P Carbide 1.16 S Lumber 0.90 Malex 2.75 A.P.I. 0.94 E.N.E. 3.48 G
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  • Article
    Fate of two shares will be known today
    383 1 THE FATE of designated securities. Central Sugars and Perak Carbide, will be decided today following a Kuala Lumpur Stock Exchange committee meeting yesterday. Committee officials proceeded yesterday evening to Johore Baru to meet their counterparts from the Stock Exchange of Singapore for
    383 words
  • Article
    A strong case for small finance firms to join forces
    731 1  -  JOHN TAN ONLY 10 out of the .34 finance companies operating in Singapore have shareholders' funds In excess of $5 million and eight have assets of less than $10 million, with the smallest going down to as low as $1.4
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  • Article, Illustration
    Two-way trade is in Indonesia's favour
    612 1 INDONESIA is Singapore's second most titfsortBnt trading partner In Asean, but In world terms it trails a long way after Malaysia which is the Island republic's top trading partner on both counts. Indonesia, however, ranks fifth after Malaysia, the .United States, Japan and Saudi
    612 words
  • Article
    Lock icon Perils of trade barriers — by Citibank chief
    212 1 Perils of trade barriers by Citibank chief AP HONGKONG, Frl. A top American banker today called for global free trade for the benefit of both developing and developed countries. Mr. Walter Wrlston, chairman of Citicorp and Citibank, described imposition of trade barriers such as quotas and other restrictions as "a
    AP  -  212 words
  • Article
    Asean shippers reject hike
    129 1 JAKARTA, Frl. The Federation of Asean Shippers Councils (FA3C) has rejected the proposed 12.5 per cent Increase in freight rate by the Far Eastern Freight Conference (FEFC), a FABC spokesman said here today. The rejection came at a recent FABC meeting here attended by all Asean
    129 words
  • Article
    OECF loan for Seoul
    34 1 TOKYO, Frl. South Korea today signed a contract to borrow 12.6 billion yen (*****.5 million) from the Japanese Government's Overseas Economic Cooperation Fund for agricultural development projects. the fund said.
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  • Article
    Lock icon PHILIPPINE BOND ISSUE
    142 1 AP MANILA. Frl. The Philippines will offer sevenyear public bonds worth 200 million pesos (about Ss66 million) on June 16 to develop the domestic capital market, the Central Bank announced today. The issue, the first sevenyear public bonds of the Central Bank, provides for optional redemption at
    AP  -  142 words
  • Article
    Investors storm futures firms to demand refunds
    302 1 JAKARTA, Fri. Hundreds of Indonesian* rushed to the Jakarta offices of seven business companies engaged in futures trading yesterday in a bid to recover billions of rupiahs they had invested in the now banned trade. The daily turnover in futures commodity trading had
    302 words
  • Article
    Leaders turn attention to rich-poor gap issue
    607 1  -  ■y SOH NG LONDON, Fri. The Commonwealth summit left the political minefield of southern Africa behind this afternoon to go Into the other potentially explosive area of rich-poor economic relations. This is another contentious issue dividing the advanced, mainly white Western members of
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      65 1 If-i r xi mr Hi St l< '< J << l int <ul l)ut>i \nJ-A l lon I M.igmtu rr C rjll\"iatuhi[< #6*l CeylcriJewellers If Stamford Ad., Unmnn Tal: *****8/*****7. SEE BAGK PAGE Market ReviewsJ TV Radio Overseas News Local Co News International Co News Local Stocks Overseas Stocks P
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      138 1 THE SMOOTH SIMPLE STYLE OF ft You have to drive the 504 to appreciate its excellent performance and high standard of engineering. Its pick-up, power, road-holding, braking and reliability. Its economical 197 lcc petrol engine, giving minimum consumption for maximum efficiency. The endurance of its oversquare 4-cylinder inline engine over
      138 words
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      0 1 '~[&[$-_`@=]%|=]"[].}>{!_$}|}`;
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  • MARKET REVIEWS
    • Article
      KUALA LUMPUR
      623 2 THANKS to the fresh bullish wave early this week, both the prices and volume of selected stocks rose substantially despite losing some ground around the middle of the week. Though the speculative element was largely credited with sparking the sharp uptrend some investor interest also emerged lending steady
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    • Article
      Company news for the week ended June 10
      473 2  -  rmilirtij k« j RONALD LAM SCRIP ISSUES Cold Storage: One-for-three. capitalising SSI8.15 million. OTHER ANNOUNCEMENTS Malayan Banking has formed a joint-venture Insurance company with Phoenix Assurance. The new company will be known as Mayban-Phoenlx, with Malayan Banking holding 70 per cent of
      473 words
    • Article
      Lock icon SYDNEY
      290 2 Reuter THE SHARE market was dull throughout the week with trading activity mostly lethargic. Most interest centered around two takeover situation stocks, Capitol Motors, for which Sims Consolidated has bid, and T.A. Field, the subject of an offer by Amatll. Amatll finished 11 cents lower on the week and
      Reuter  -  290 words
    • Article
      SILVER JUBILEE FESTIVITIES ECLIPSE ALL ACTIVITIES
      553 2  -  LONDON ■y IVAN FALLON THE Queen's silver Jubilee has this week dominated whatever modest competition the activity on the London Stock Exchange floor might have provided. The market was closed on Monday and Tuesday and The City was Invaded by the biggest crowds It
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    • Article
      The tin companies agree to ante up
      485 2 THE headquarters of the M and O unit trust group this week was a popular spot Its windows have a splendid view of the river at Tower Bridge-and the royal yacht was parked directly outside. It was also a place for some mild
      485 words
    • Article
      Property market now on the rebound
      430 2 AFTER the worst battering In Its history, the London property market this week has been showing how resilient it Is. First of all, there was the sale of the Knlghtsbrldge Building to the BP Pension Fund for £45 million, with other bidders (Including Arabs)
      430 words
    • Article
      Lock icon Grain development joint venture
      130 2 AFP TAIPEH, Frl. A Joint venture between Indonesia and Taiwan on grain development will be Inaugurated this month, It was learned today. The objective Is to cultivate grain crops In Indonesia to meet Taiwan's needs. An official of the Funds for Miscellaneous Oraln said that together
      AFP  -  130 words
    • Article
      W Asia is cheapest place for gold
      232 2 IF YOU want to get the best value for an investment in gold Jewellery, stop off at Riyadh, Jeddah, Kuwait or one of the souks in Damascus. West Asia is by far the cheapest place in the world for buying gold Jewellery, often
      232 words
    • Article
      SINGAPORE
      544 2 EXCEPT for Intermittent profit-taking and contra selling, trading ranged from steady to firm at the Stock Exchange of Singapore this week. Trading volume was fairly heavy throughout the week and a lack of concerted selling' pressure with the exception of only a few counters suggested that the speculators are
      544 words
    • Article
      Lock icon Futures contract note for listing
      178 2 Reuter CHICAGO, Fri. The Chicago Mercantile Exchange said its board approved a futures contract in four-year, US Treasury notes for listing on its International Monetary Market division. The Exchange currently trades futures contracts in 90-day US Treasury bills and the board approved a futures contract
      Reuter  -  178 words
    • Article
      Lock icon Self-sufficient in rice
      83 2 Reuter MANILA, Fri. The Philippines rice production during the crop year July 1976 to June 1977 increased by 5.4 per cent to four million tonnes, ensuring self-sufficiency and precluding the need of Imports, according to Agriculture Secretary Arturo Tanco. He said the Increase from the previous year's
      Reuter  -  83 words
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      200 2 Give us a man fbra monthwe'll give him a language for life WMMWgUn 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
      200 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      394 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on June 10 at Singapore airport. Maximum Temperature 30.7° C Associated Humidity 71 Minimum Temperature 23.7° C Associated Humidity 97 Hours of Sunshine 1.60 Rainfall in Millimetres 11.9 Total Rainfall for the Month 116.4 Total Rainy Days for the
      394 words
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  • OVERSEAS
    • Article
      Boycott: Western firms telling on Americans
      360 3 ALEXANDRIA, Fri. Firms from Britain, France, Japan and West Germany are informing the Arab Boycott organisation about Israeli dealings witb American companies in order to get them blacklisted, the boycott leader said yesterday. "They are naturally interested in getting the Americans blacklisted in order
      360 words
    • Article, Illustration
      Lock icon Despite inflation US economy pushing towards strong gains
      638 3 WASHINGTON, Friday Washington Star THE economy Is on the track towards strong ga?ns this year and next although the Inflation Is still a threat, the Carter Administration said yesterday. But the Administration encountered scepticism at a congressional hearing on its ambitious goals
      Washington Star  -  638 words
    • Article
      Lock icon USD A puts a figure on year's wheat crop
      317 3 Reuter WASHINGTON, Frl. The United States agriculture department said current odds favour a total 1977 US wheat crop of around two billion bushels. In Its latest supply and demand estimate, it said chances are about two out of three that production
      Reuter  -  317 words
    • Article
      Lock icon Panel advances suggestions to review monetary system
      432 3 Reuter PARIS, Frl. Governments should regularly review the effectiveness of arrangements for supervising international markets and for providing lender-of-last-resort facilities to avert severe strains on the international monetary system, a report compiled by eight independent economists for the Organisation for Economic Co-operation and
      Reuter  -  432 words
    • Article
      Lock icon JOBLESS RATE STAYS HIGH IN STEEL
      96 3 AFP BRUSSELS. Fri. Unemployment remained high in the European Common Market steel industry in the •econd quarter of this year the EEC Commiaaion said yesterday. CommiMion experts in a survey of recent trends said raw steel output would increase only marginally in the three-month
      AFP  -  96 words
    • Article
      Lock icon 'Expansion with lower inflation possible'
      247 3 Reuter PARIS, Fri. A return to full employment with price stability and steady but moderate growth Is possible in theOrganlsatlon for Economic Co-operation and Development area, a report compiled for the OECD by a panel of eight Independent economists said. The panel, headed by Paul
      Reuter  -  247 words
    • Article
      Lock icon M-1 down $1.7 bil in week
      118 3 Reuter NEW YORK, Frl. United States money supply, M-l, declined US$7OO million (SSI.7 billion) In the statement week ended June 1, to a seasonally adjusted $321.5 billion, the New York Federal Reserve Bank said. The more broadly based M-2 aggregate showed a rise of
      Reuter  -  118 words
    • Article
      Lock icon US tones down threat to quit the ILO
      178 3 Reuter GENEVA, Frl. A United States threat to leave the International Labour Organisation (ILO) receded yesterday after US and Arab delegates to the ILO's annual conference here Bitched up a dispute over rael. After nearly a week of Intensive backstage negotiations at
      Reuter  -  178 words
    • Article
      Lock icon Chinese purchase of soybean clarified
      189 3 Reuter HONGKONG, Fri. The recent pure hate of 275,000 tonnes of soybeans by China, mentioned in a speech here yesterday by US Agriculture Secretary Bob Bergland, in fact referred to a 390,000 tonnes deal by Dreyfus on March 31, an official US spokesman said. The
      Reuter  -  189 words
    • Article
      Lock icon Slack in British money supply growth expected
      484 3 Reuter LONDON, Fri. British money supply growth In the four weeks to May 18 will show a marked slackening from the 2 1/2 per cent Increase seen In sterling M 3 In the banking period to mldAprll, banking sources said. They base their
      Reuter  -  484 words
    • Article
      Lock icon Blueprint to beat abject poverty
      291 3 AP WASHINGTON, Frl. The extreme poverty which claims a quarter of the world's people could be wiped out in 15 to 25 years without any great sacrifice by the affluent, US foreign aid chief John Ollllgan said yesterday. In a speech here, Mr. Ollllgan proposed
      AP  -  291 words
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      655 3 SEE PAGE 11 RAINIER NATIONAL BANK SUBSIDIARIES (Incorporated with Limited Liability in the United States of America) CONSOLIDATED BALANCE SHEET 31st DECEMBER,I976 and 1975 Cash and Due from Banks Due from Bonks, Time Federal Funds Sold and Securities Purchased under Agreements to Resell Investment Securities: U.S. Treasury U.S. Government Agencies
      655 words
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  • Article
    High costs cut into Tan Chong's profit
    559 4 HIGHER costs incurred by a new assembly plant In the second half of 1976 and a bad squeeze on profit margins were the main factors behind the marginal growth at Tan Chong Motors last year. Chairman Dato Tan Yuet Foh says in his
    559 words
  • Article, Illustration
    Mr Tan Chin Tuan
    18 4 chairman of Over—.-Chin—a Banking Corporation, which ii doe to bold its 40th AGM today.
    18 words
  • Article
    Paper Products (M) suffers another severe setback
    438 4 PAPER Products (Malaya), which was hard-hit by the adverse Influences In the aftermath of the world economic recession In 1975, suffered another severe earnings setback last year. Group pre-tax profit for the year ended Dec 31, 1978 fell 66.6 per cent to M
    438 words
  • COMPANY MEETINGS
  • Article
    Multi-Purpose offers a helping hand
    362 4 KUALA LUMPUR, Fri. Multi-Purpose Holdings has offered to help existing business organisations or guilds and associations to organise themselves Into corporations. The offer was made on Wednesday night by the company's executive director, Mr Tan Koon Swan, at a function in Penang to drum up
    362 words
  • Article
    Ropel to place shares with bumiputras
    251 4 GUTHRIE Ropel, the plantation company destined ultimately to hold all the vast Malaysian estates of the Guthrie Corporation, has announced the completion of its programme to place 30 per cent of Its shares with bumlputras. The company has now finalised the placement of 8.4
    251 words
  • Article
    CHICAGO BOARD OPTIONS
    1349 4 On June 9 TRADING In options on the Chicago Board Options Exchange totalled 67,807 contracts on Thursday compared with 99,003 contracts on Wednesday. OPTION JLY OCT JAN STOCK Alcoa SO 4 5 3/8 53 1/2 Alcoa eo 1/16 13/16 1 3/8 53 1/2 Am Tel 36 6
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  • LATEST RESULTS
    • Article
      LEONG HUAT INDUSTRIES –
      16 4 LEONG HUAT INDUSTRIES Consolidated net loss $862,076 ($1.19 million) for the year ended Dec 31, 1976.
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    • Article
      TONG MENG INDUSTRIES
      38 4 Group pre-tax profit $99,187 ($46,742) on turnover $5.37 million ($4.34 million) for the year ended Dec 31, 1976. Tax $248,100 ($166,928) and extraordinary Items $158,638 ($221,673) making net loss $307,551 ($241,859). Accumulated losses $787,964 ($546,660).
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    • Article
      MENTAKAB RUBBER (MALAYA –
      41 4 MENTAKAB RUBBER (MALAYA Pre-tax profit M 5487,500 ($349,646) on turnover $1.59 million ($1.97 million) for the year ended Dec 31, 1976. Tax $167,760 ($95,958) leaving after-tax profit $319,740 ($253,688). Final dividend 15 per cent (same) making total 25 per cent (35).
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    • Article
      PETALING TIN
      42 4 Un- audited group pre-tax profit M 52.02 million ($1.15 million) for the six months ended April 30, 1977. Tax $1.23 ($67,000) leaving after-tax profit $787,000 ($l.OB million). Interim dividend 17Vi cents (12'/») payable June 28 to stockholders registered June 21.
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  • Article
    DIVIDENDS ANNOUNCED
    749 4 Ex Data Data payable Trtalfcr pi si laws yonr ApoUoEat. 5* May 16 June 11 5* O.C.B.C. U*d May 23 June 11 10*d 15*ae BttaKawu 5%I May 26 June 12 5*1 10* MT Dot. 2 5*1 May 16 June 12 2.5*1 5* Fa»dNprsf 7.5* June 6 June 13
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  • Article, Illustration
    Lock icon There's more to Wall St. than meets the eye
    788 4 Economist NEW YORK, Frl. President Carter's economic troika, Messrs Blumenthal, Lance and Schultze, have apparently received a resounding vote of no confidence from investors on the New York Stock Exchange. Despite their much advertised pro-business tilt, and promises of sound economic
    Economist  -  788 words
  • Article
    Lock icon Nippon Telegraph
    44 4 Reuter NEW YORK, Nippon Telet/apn and Telephone Public has filed a (registration statement with the US Securities and Exchange commission covering a proposed offering of US$l5O million of guaranteed notes due June 15. 1984. The offering Is curently scheduled for June 21
    Reuter  -  44 words
  • Article
    PEOPLE IN BUSINESS
    145 4 MR. Chriatoffer Christen-•en-Rood, assistant general manager of Den norske Creditbank (DNC), has been appointed manager of Nordic-Bank, Singapore, with effect from August 1. Mr. Michael E. Hildesley has been appointed a director and an executive of Morgan Grenfell (Asia) from June 1. Mr. Peter F. Phillips, one
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      305 4 2 remarkable accounts of the Japanese Occupation SYONAN MY STORY Mamoru Shinozaki 19 x 13cm; 123 pages; limp; 556.50 The occupation of Singapore was, for those who survived it, a profound traumatic experience. Many, of course, did not survive it at all; and memories of mass murders and senseless brutalities
      305 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon US$100m credit for Abu Dhabi
      80 5 Reuter LONDON, Fri. Abu Dhabi's Telecommunication Corp is raising a US$lOO million seven-year syndicated Eurocredit with a margin of 1 1/8 per cent over London interbank offered rates, Eurocurrency bankers said. The credit is managed by Bankers Trust International. Chase Manhattan. Deutsche Bank. National Bank
      Reuter  -  80 words
    • Article
      Lock icon Listing for Swire Properties
      86 5 Reuter HONGKONG. Fri. Hambro Pacific said it hopes the shares of Swire Properties will be listed on local stock markets from Monday. June 13. A spokesman for the bank, joint manager of Swire Properties' offer for sale of 55 million HK$l nominal shares at $2.75, said
      Reuter  -  86 words
    • Article
      Lock icon NEC, Pak contract
      47 5 Reuter TOKYO. Fri. Nippon Electric Co (NEC) said it contracted to supply and install electronic telephone switching systems worth about two billion yen for the Telegraph and Telephone Department of Pakistan. The installation will be completed by the end of 1978. NEC said. Reuter
      Reuter  -  47 words
    • Article
      Lock icon Kobe
      36 5 Reuter FRANKFURT. Fri. The 100 million mark 6.5 per cent 10 year Eurobond for the City of Kobe was priced at 99 per cent, lead manager Deutsche Bank said, confirming reports from bond market sources.
      Reuter  -  36 words
    • Article
      Lock icon Guthrie enjoys profit jump
      354 5 UK COMPANIES Reuter REPORTING an increase of 90 per cent in pre-tax profit to €13.27 million last year from C 6.98 million in 1975, Guthrie Corporation said 1977 has started well and the year's profit should provide some compensation for the difficult decisions of the last
      Reuter  -  354 words
    • Article
      Lock icon BP RESTRICTED BY DIVIDEND CONTROL
      252 5 Reuter BRITISH PETROLEUM said the British Treasury had refused it permission to increase total dividends by about 50 per cent to 30d net per I'l stock unit, equal to a gross figure (at the present rate of advanced corporation tax) of 46.1538 p. This compares
      Reuter  -  252 words
    • Article
      Lock icon ICI anticipates higher average net return
      148 5 Reuter IMPERIAL CHEMICAL INDUSTRIES(ICI) expects average net return on assets to be above last year's 19.6 per cent (14.7 per cent) over the next few years, group treasurer .Mr. Alan Clements siad. He told an analysts meeting here this will however depend on a
      Reuter  -  148 words
    • Article
      Lock icon Gulf Oil denies allegations
      256 5 NORTH AMERICAN COMPANIES Reuter GULF OIL has denied allegations it was responsible for a dran.atic increase in the price of uranium because it took part in an international marketing arrangement. The company said it has prepared a report that shows a variety of factors were more
      Reuter  -  256 words
    • Article
      Armco Steel, AEIF labour pact
      141 5 ARMCO STEEL Corp has reached a three-year labour agreement with the Armco Employees Independent Federation covering all hourly employees in the Middletown area, including those at its Middletown works. Armco said the pact includes a minimum wage increase of 80 US cents an hour over
      141 words
    • Article
      Lock icon Redemption of ITT stock
      66 5 Reuter INTERNATIONAL TELEPHONE AND TELEGRAPH said it is calling for redemption Its outstanding US$4 convertible series "E" and four convertible series "F" cumulative preferred stock. The shares will be redeemed at call price plus dividends accrued to the date of redemption, which will be Sept 14.
      Reuter  -  66 words
    • Article
      Lock icon B-Warner expects record second quarter
      173 5 Reuter BORG-WARNER'S second quarter earnings should be better than last year's which were the best in its history, chairman Mr. James F. Bere told analysts here. In the second quarter last year, the company earned U5524.5 million or $1.26 a share. "I am confident we
      Reuter  -  173 words
    • Article
      Lock icon Disappointing news for Tandy shareholders
      671 5 NYT TANDY CORPORATION, which has quietly compiled one of the strongest growth records in recent years among companies listed on the New York Stock Exchange. passed out disappointing news to shareholders this week. The result was predictable in a stock market that has been hard
      NYT  -  671 words
    • Article
      Lock icon Marks and Spencer to spend £46m
      245 5 Reuter MARKS AND SPENCER plans to spend £40 million In the UK and £6 million overseas in expanding operations In the current year, chairman Sir Marcus Seiff told a press conference on the annual report. He said substantial development Is planned in the Paris
      Reuter  -  245 words
    • Article
      Marginal rise at 'Charter Cons
      157 5 PRE-TAX profit at Charter Consolidated rose slightly to £38.73 million for the year ended March 31, 1977 from £36.48 million previously. income from investments amounted to £18.58 million £18.22 million) and surplus on realisation of investments £2.37 million (£6.08 million) raising trading profit to £18.94
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    • Article
      Lock icon Pension Funds recommends G. Occidentale offer
      154 5 Reuter THE UK National Association of Pension Funds said It cannot recommend rejection of the Generale Occidentale partial offer for Cavenham. despite widespread dissatisfaction among members about the bid terms. Generale Occidentale is offering 155P cash per share for half the 49 per cent
      Reuter  -  154 words
    • Article
      Lock icon Slight decline at Elf Aquitaine
      225 5 EUROPEAN COMPANIES Reuter PARIS, Fri. Ste Nationale Elf Aquitaine made a group attributable profit of 1.48 billion francs fast year compared with 1.52 billion francs in 1975. Overall consolidated profit was 1.62 billion but the company gave no further comparisons owing to restructuring of group
      Reuter  -  225 words
    • Article
      Lock icon Nedlloyd forecast
      72 5 Reuter AMSTERDAM, Fri.- Koninkli jke Nedlloyd Group said it expects profit in 1977 and 1978 to be about the same as 102.5 million guilders in 1976. It plans to invest more than 1.05 billion guilders In the two year period after spending 480 million guilders in 1976. If
      Reuter  -  72 words
    • Article
      Lock icon KLM stages strong recovery
      172 5 Reuter AMSTERDAM, Frl. KLM Royal Dutch Airlines said net profit in the year ended March 31, 1977, was 77.1 million guilders (18.6 million loss). The 1976/77 result Is increased by extraordinary items totalling a net 7.6 million guilders due to changes in methods of writing off
      Reuter  -  172 words
    • Article
      Lock icon Michelin Vietnam unit
      50 5 Reuter PARIS, Frl. Cle Generale des ets Michelin said Manufacture Salgonnaise des Phenumatiques Michelin has been nationalised by the Government of Vietnam. It said the operation was carried out late In April without warning and there has been no official notification of it from the Government. Reuter
      Reuter  -  50 words
    • Article
      Lock icon ROCHE-SAPAC GROUP INCOME HIGHER
      389 5 Reuter BASLE. Fri. Roche Sapac grbup had a combined net income of 475 million francs (455 million) on sales of 5.12 billion francs (4.75 billion) in 1976. Depreciation and value adjustments were 374 million francs compared with 321 million francs in 1975. The groups said in
      Reuter  -  389 words
    • Article
      Lock icon Spanish firms Euromart loans
      121 5 Reuter FRANKFURT, Frl. The Spanish state-owned gas company Empresa Nacional de Gas is raising a US$lOO million seven year syndicated Euromarket credit. Euromarket bankers said. The credit, guaranteed by the Spanish state holding company Instituto Nacional de Industria (Inl), carries a spread of per cent over
      Reuter  -  121 words
    • Article
      Lock icon Paribas
      34 5 Reuter AMSTERDAM. Frl. Banque de Paris et des Pays Bas said subscriptions for its 40 million guilder 7.75 per cent debenture loan issued at 99 per cent due 1978/87 were fully allotted. Reuter.
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      106 5 Have you got your copy of the 1976/77 BUKU MERAH? e T Oft. fo 6 b A Qf r b It's the 1976/77 "Red Book office/library reference book covering the business scene in Singapore. It is complete. Built up over 80 years and updated each year. This book contains all
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  • Article
    Share Information Service
    2191 6 1IT7 Hlcfc Low CMVUJ> Lot 8a* Qr's dhr Dtr e'rr Gr-B yn Net P/E Vel Dmy High Low SECTION ONE INDUSTRIALS 146 133 204 92* 212 101 198* 183 219 392 136 127 204 58 212 57 155 152 182 350 Ac ma Ac ma A Alcorn
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  • Article
    Transactions in Singapore
    1338 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown m 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
    1275 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 INDUSTRIALS AMM (IMB 1.41*). Alaam (1 806). *Hi. MaH (0.998). A. COM
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  • Article
    Stock options
    86 6 STRIKING arteae ef the atack options offladf Mai en the Stock Fschnfa ai Singapore, the periods, Ma ami otter prleaa and busineaa 4mm yeaterday, with the number of opUona traded ahown la hrackeU. D.B.S. (Dec *3.60) (0.20B) Inchcape (June 82.40) (0.1 IB) (18) 0.09, (10)0.10, (1) 0.11 O.u.
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  • Article
    Unit trusts
    143 6 INCOME BOND UNIT SINGAPORE UNIT TRUST (Cm i mi i risss) (Managers' prion i far Am 11) INCOME BOND 1.05 1.11 The Commerce 1.68 ITS MARA BUMIPUTRA FUND The Saving Fund 0.92 0.17 (M«»«gn' prtsss far Jaae 18) 8'pore Prog Fund 8'pore Security Fund O.SS 0.88 First Bumlputra
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  • Article
    CORPORATE BONDS
    129 6 B O T 8 1/2% 1981 (100,000) (102HB 102HS) B O T 7 5/8% 1984 (100,000) (98*B 99*>S) D B S 8 1/2% 1962 (100,000) 101*8X1)100* DBS Converts 6 1/2% 1991 (100,000) (98*B 98*8X1)98* E I B 9% 1982 (100,000) (1038 103*8) E I B 8 1/4% 1963
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  • Article
    GOVERNMENT BONDS
    114 6 Kep Spore D Mark 7% IM2 (100,000) (100*.B ICIWS) Rep Spore D Mark S 1/2% I*B3 (100,000) (98*B 98*8) R*p Spore 7 3/4% 1987 (100,000) (99%8 100HS) 5 1/4% 15/7/78 2 50,000) (101.478 101.578) 4 3/4% 1/5/79(250,000)(100.75B 100.85S) C 1/2% 15/8/78 250,000) (100.30B) 5 3/4% 15/0/80 250,000) (103.40B)
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  • Article, Illustration
    SENTIMENT IMPROVES
    609 7 IMPROVED sentiment u* moat countera finishing higher in fairly active trading on the Stock Exchange of Singapore yesterbuying in the morning pushed the market forward with the volatile isauee leading the way. Gains, however, were held in check by intermittent bouts of profit-taking and liquidation. Trading in the
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  • Article
    STEADIER TREND AT KL
    408 7 PRICES turned steadier on the Kuala Lumpur Stock Exchange yesterday after two sessions of easier trading. The recovery was evident right from the opening bell when first business was dealt at marginally higher levels. With the underlying sentiment remaining basically encouraging despite the previous spell of
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  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      372 7 HONGKONG: The market closed generally higher In moderate trading on Friday, after opening firm, dealers mid. The Hang Beng Index was down 0.12 points to cloee at 448.30. Blue chips closed mixed on hesitancy ahead of the requotation of Hutchison and Hongkong Deck shares on next Monday, they added.
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    • Article
      Tokyo
      512 7 TOKYO: Share prices closed lower In dull trading on Friday, in the absence of encouraging factors, dealers said. The Dow Jones average lost 27.76 to close at 4,927.54 with volume 130 million shares. The new Index closed at 372.81, down 2.27. The fall was accelerated by late liquidations In
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    • Article
      Sydney
      427 7 SYDNEY: The market closed lower on Friday dealers said. The Sydney All-Ordlnarles dropped 2.4 points to close at 457.96. T.A. Field rose five to $1.50 on the bid by Aautii, while AasatU fell 10 to $1.70 Simi Consolidated lost two cents to $1 on Its bid for Capital Motors,
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    • Article
      Manila
      197 7 MANILA: The market closed mixed on Friday wTh mining and oil sector easing while commercials were slightly higher, dealers said. Turnover declined with Investors waited for fresh developments leading oil Issues opened lower but rallied In mld-sesslon to close about steady. Lower metal prices abroad again depressed minings, However,
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    • Article
      Bangkok
      94 7 JUNE 10 Bahts Asia Fibre Bangkok Bank Bangkok Invest. Bangkok-Metro-politan Bank Bala BerllJucker Charoong Thai Wire Dumex DusltThanl Faber Merlin First Trust Indo-Thal Industrial Finance Corp J And J Ho Jalaprathan Cement Karnasuta LeeKwangMln Metal Box Rama Towers Safety Insurance Saha Union SermSuk Slam Cement Slam City Cement Slam
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    • Article
      Amsterdam
      291 7 AMSTERDAM: The market closed generally easier on Thursday despite Wall Street's overnight Increase, bourse sources said. Dutch Internationals were mixed with Akzo and Hoogovens slightly firmer and Philips, Unilever and Royal Dutch easier. Elsewhere ABN firmed In lower banks. Amev led insurances firmer. Lower shares Included Van Ommeren, KLM
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    • Article
      Brussels
      163 7 BRUSSELS: The market was mixed to higher, In thin trading on Thursday, encouraged by the firmness of Wall Street, dealers, said Local Issues to rise Included Sofina, Unerg, FN, Moiane, Finoutremer and CBR. Aeec and Arbed fell French stocks and gold mines fell, and Dutch Issues were weaker. Germans
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    • Article
      Paris
      416 7 PARIS: The market mixed In active trading on Thursday, before the bourse workers strike at 1330 local time, dealers said. The market was nervous following a split In the French coalition government over elections to the European Parliament, but was encouraged by a newspaper Interview In which Prime Minister
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    • Article
      Zurich
      279 7 ZURICH: The stock market mainly closed slightly Irregular in conUnued quiet trading on Thursday, dealers said. Oerlikon-Buehrele rose strongly In heavy turnover prior to start of dealings on Friday In Its rights shares. Registered shares of Oerlikon-Buehrle advanced by around ten per cent to a new high. Hoffmann-La roc
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    • Article
      Toronto
      288 7 TORONTO: The market closed fractionally higher In moderate trading on Thursday, after a mixed session. The composite Index was up more than 1W points and advances outpaced declines 197 to 171. Harding Carpets fell five cents to $3.30 on a second quarter loss while Total Pete added on higher
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    • Article
      Jo'burg
      363 7 JOHANNESBURG: Gold shares drifted In an Inactive market with some reaction to US Influences and the lower bullion fixing on Thursday, dealers said. Financial minings drifted In sympathy with golds, Uaicorp losing 10 cents to 330 and Aaglos five cents off at 405. Elsewhere, De Beers was five cents
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    • Article
      New York
      1154 7 NEW YORK: The stock market overcame earlier weakness In moderate trading on Thursday, finishing the day on a mixed note. Market analysts attributed the turnaround mostly to technical factors, noting Investors were encouraged by the Dow Jones blue chip barometer's recent reluctance to fall below the 900 !evel.
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    • Article
      Market closure
      25 7 THE Frankfurt bourse was closed on Thursday for the Corpus Chrlstl holiday. Milan bourse remained closed due to a strike by Its clerks.
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    • Article
      Indices
      69 7 FINANCIAL TIMES INDUSTRIALS Thursday 446 8 Wednesday 455.7 Week Ago 454.6 DOW JONES AVERAGE INDUSTRIALS Thursday 909 85 Wednesday 912 89 Week Ago 903 15 LONDON DOLLAR PREMIUM Thursday 116'/j to 117 Wednesday 118 to 118'<4 H.K. HANG SENG Thursday 448 42 Wednesday 446 07 Week Ago 447 60
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  • Article
    Lock icon Borthwick begins takeover talks
    154 7 AFP LONDON, Frl. Thomas Borthwlck and Sons, big International producers of meat in Australia and New Zealand, have begun negotiations to take over the British firm Matthews Holdings. Matthews Holdings has a big interest in the Bernard Butchers' shops In France, but it reduced its stake
    AFP  -  154 words
  • Article
    Lock icon Richardson Securities
    119 7 Reuter WINNIPEG, Frl. Richardson Securities of Canada said its British office will no longer offer bidask quotes in US securities before the US exchanges open. Richardson Securities of Canada (UK) will continue to deal in US securities for fts European clients, but will not take the orders and
    Reuter  -  119 words
  • Article
    Gas find
    26 7 NEW ORLEANS, Frl. Texaco and its equal partner, Tenneco Oil, have made a significant gas discovery offshore Lousiana in South Marsh Island block 116.
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      346 7 .w Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the g* pasar ma/am! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational dijjj quite unlike the type that
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      401 8 OPENING quotations In the Singapore rubber market yesterday were marked down 1.25 cents and the market eased further on stale bull liquidation and outsider selling, dealers said. Values recovered slightly at one point before falling back again towards the morning close on arbitrage selling from
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    • Article
      Closing prices
      30 8 Rubber: June 10 Singapore: July 195.50 eta (down 2.50 eta) Malaysia: July 196.75 eta (down 2.25 eta) Tin: $1,437 (down |7) Official offering: 182 tonnes (down 15 tonnes)
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    • Article
      R.A.S. PRICES
      291 8 Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers int. l R.S.S. prompt f.o.b. 193.75 194.75N 192.50 193.50N Int. 1R.S.S. July 196.73 197.00 193.50 196.00 Int. 1 R 3.3. August 199.50 199.75 196.23 196.75 Int. 2 R.S.S. 191.50 193.SON 190.75 192.75N UK/Cont 190.50 192.SON 189.75 191.7SN Int.
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    • Article
      SSR AND SMR
      89 8 R.A.9. July (Cumt Mtk) Augnat (Forward Mtk) Buyari i Saltan Buyat 1 Saltan (oaai U parks) (oaau par kg) SSR20 (1-ton Pallet) 194.00 190.00N 195.50 197.50N S8R50 (1-ton Pallet) 191.50 193.SON 193 00 195.OON M.R.E.L.B. SMR5CV (1-ton Pallpt) 218.50 220 50N 219.50 221.50N SMR5L (1-ton Pallet) 216.50
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    • Article
      Rice
      194 8 BANGKOK, Frl. Indicative prices for rice quoted here were: US dollars per tonne fob bests Bangkok White Rice 100 per cent Ist class 295 100 per cent 2nd 280 100 per cent 3rd 276 5 per cent 263 10 per cent 240 15 per cent 237 20 per cent
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    • Article
      Cocoa
      176 8 LONDON, Frl. Futures opened £2 to £26 down In sales of 744 lots. The near July position initially traded at the £40 limit up level at £3,025 Prices dipped back to around last night's levels before meeting some support in the nears and at end call, July was trading
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    • Article
      Produce exchange
      483 8 YESTERDAY was another quiet day in the Singapore commodity market. The main deterrent to trading with overseas was the wide disparity between local and overseas price levels. Speculative dealing was much reduced as local dealers remained wary of fresh commitments for reasons ranging from the lack of stocks
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    • Article
      Coffee
      368 8 LONDON, Frt. Futures ended the opening session £25 to £102 down on last night. 367 lots were traded. Dealers said there were no specific factors behind the sharp downturn other than an easy close In New York and continuing lack of physical/roaster off-take which was depressing the market. Values
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    • Article
      Palm oil
      79 8 C I F. Rotterdam, US dollar* per ton. LONDON: Thursday Pre*. Malaysia 5% ffa bulk Aug/Sept Sumatra C<% Afloat June July Aug Sept Nov Nigerian 5% ffa bulk ROTTERDAM: Sumatra June Any origin Jun/July Zaire Belg francs per kilo 640 sir 657 50 pd 652 50 65/ pd
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    • Article
      Straits tin market
      177 8 THE Straits tin price In Penang yesterday was down $7 to $1,437 on an official offering down IS tonnes to 182 tonnes. Further lack of consumer demand and the overnight London metal exchange easiness continued to depress sentiment, dealers said. In LONDON yesterday morning, tin rose £73
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    • Article
      Sugar
      185 8 LONDON, FYI. Terminal opened £2 to £1.15 down from yesterday afternoon. Sales totalled 1,115 lots. Dealers said the market again came under pressure from the physical market where further reports of cheap sugar sales circulated. The London dally whites price was down £1.50 on tone to £129.50. Prices at
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    • Article
      Hongkong comex
      291 8 HONGKONO. Frl. Cotton futures closed lower In moderate trading, following the overnight decline In New York, dealers said. Losses ranged from one to 1.40 US cents. March was actively traded due to Its large open position of 67 lots after yesterday's trading, they added. May was untraded, and
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    • Article
      Soybeans
      190 8 CHICAGO. Frl. Old crop soybean futures wers down their 30 cent a bushel limit around mldsesslon yesterday while new crop months were off 24 1/2 to 14 1/2 cents a bushel. Soybean futures closed with losses ranging from the 30 cent a bushel limit In the July to 13
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    • Article
      Wheat
      98 8 CHICAGO, Frl. Wheat futures eased In early trading yesterdav and slipped as much as 1 1/2 cent below previous seasonal lows. Around mldsesslon. rices were down 2 1/4 to 3 /4 cents a bushel. Wheat futures closed with losses of 2 1/2 to 3 1/2 cents a bushel after
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    • Article
      MORE FEATURE THIS WEEK
      307 8 SLIGHTLY more feature had been experienced this week where a marginal gain of 1 cent was finally posted, although turnover had continued light, said Holiday, Cutler, Bath A Co in Its weekly review of the Singapore and Malaysia rubber markets. After dipping initially in quiet trading,
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    • Article
      Copper
      386 8 LONDON, Frl. Copper wlrebars finished with gains of £6.50 for cash and £5.50 for Three Months. The market rallied in early pre-rlng dealings on general covering which was mainly prompted by expectations of a fairly sizeable fall In warehouse stocks this week, dealers said. Three Months rose to £758
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    • Article
      Silver
      191 8 LONDON, Frl. Silver In the morning softened by 0.7 to one pence per troy ounce under modest selling prompted by the fall at New York, a declining trend In gold and a relatively low bullion dealers fix. Three Months traded down to 261 pence before final business at 261.2
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    • Article
      Gold
      398 8 GOLD closed sharply In the US market which came In line with market expectation. The kilo bar opened lower at 5511,145 and In thin trading It was bid up to close at 5511,195. The loco London price opened sharply lower from the previous day's at U*****.50/80, although this was
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    • Article
      Lead
      74 8 LONDON Fri. Lead rose L' 15.25 for cash and £13.25 for Three Months in the morning. Prices rallied following the recent bout of heavy selling with trade covering and pricing operations lifting Three Months from €306 in the early premarket to £315 in the ring. Light profit-taking pared values
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    • Article
      Zinc
      78 8 LONDON. Fri. Zinc gained £2 for cash and £2.75 for Three Months in the morning. Three Months traded upto £308 but ran into trade selling which pared the advance by t'4. On Thursday afternoon, zinc fell by £7.50 for cash and £8 for Three Months. Values were shaded in
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    • MONEY AND EXCHANGES
      • Article
        Singapore
        599 8 INTER-BANK local money transactions In Singapore yesterday were carried out under tight liquidity conditions. Overnight rates opened In the morning at 5V4 per cent and traded up to as high as six per cent at closing. However, overnight funds fluctuated between the five and 5 v» per cent band
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      • Article
        Minimum lending rates
        51 8 ACBC (V. Firat Chicago AlfemeM Bank Bangkok Bank 7 Citibank HSBC 6 1 H Bank of America Indoauei CV, Bank of China 7 gv 4 Bank oT Tokyo L < (V) Bank Nofara OCBC Indonesia 7 OUB Chartered Bank 6V« LICB 7 Oiaae ManhatUn UMBC 7 DBS
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      • Article
        Asian $ rates
        167 8 Asian rates ASIAN currency deposit Interbank rates as at close on June 10 US Dollars (Soon Offer Bid 7 days 59/16 57/16 1 mth 5 5/8 51/2 2 mths 5 3/4 5 5/8 3 mths 513/16 511/16 6 mths 6 3/1# 61/16 9 mths 67/ie 6 5/16 12 mths 611/16
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      • Article
        Discount
        7 8 ■mJ Source: National Discount Co. Ltd.
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      • Article
        Euro $ rates
        129 8 Euro rates LONDON, Frl. Eurodollar deposits were little changed In quiet trading, dealers said. Periods were mostly unchanged to slightly easier in places at the opening. One and Two Months shed 1/16 and later One Month lost another 1/16. Six Months held its overnight level at the opening and then
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      • Article
        New York
        180 8 NEW YORK. Fri. The Canadian dollar fell to 94.78/80 cents in active trading at the close yesterday here from its high of 94.97/99 in mid-morning and compared with the opening 94.90/92, dealers said/ The US dollar closed marginally stronger or unchanged against most European currencies in quiet trading,
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      • Article
        London
        192 8 LONDON, Frl. The US dollar held steady to slightly firmer in thin opening trading, possibly helped by the fall in US Ml money supply, dealers said. Sterling traded quietly, holding to yesterday's levels, while the yen traded marginally above its Tokyo close. The dollar traded at 2.3570/ 80 marks,
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      • Article
        Tokyo
        76 8 TOKYO, Frl. The US dollar for overnight delivery closed slightly easier at 273.78 yen compared with 274.00 at yesterday's close after opening at 273.70, dealers said. Dollars for immediate delivery finished at 273.65 yen compared with 273.68 at the opening and 274.23 at yesterday's close. Forward dollar rates eased
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      • Article
        Hongkong
        87 8 HONGKONG, Fri. The Hongkong dollar eased fractionally in quiet trading to 4.6865/80 from yesterday's 4.6850/70 against the US dollar, with a slight decline in short term money market rates, dealers said. HONGKONG banknotes quoted on June 10. US 2 665/2 685 UK 8 15/8 25 Burma 1.00/2 00 India
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      • Article
        Zurich
        53 8 ZURICH closing exchanges on June 10. US 2 4910-4916 UK 4 2797-2804 Can 2 3654-3664 W Germ 105 61-68 Neth 100 89-96 France 50.36-40 Belg 6 91-91'. Denm 41.24-27 Norw 47 22-26 Swed 56 25-29 Italy 0 2813-2815 Austria closed Port 6 44-46 Spain 3 60-60 Ar< 0 65-70
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      • Article
        Australia/NZ
        59 8 AUSTRALIA/NZ exchanges quoted on June 10 Australia: Sterling 0 6479/ 0 6409 US dollar 1 1099/ 1 1051 Ninety-day air mall buying rates Sterling 0 6664 US dollars 1 1353 Ninety-day forward buying rates Sterling 0 6487 US dollars 1 0987 New Zealand Sterling 0 5611/ 0 5580 Ninety-day
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      • Article
        Frankfurt
        47 8 FRANKFURT opening exchanges on June 10 US 2.3565/ 75 Can 2 2340/ 60 UK 4 048/ 058 Neth 95 45/ 55 SwlU 94 60/ 70 Italy 2.656/ 668 France 47.62/ 72 Norw 44 80/ 68 Belf com 6.53/54 Belg fin 6.53/ 56 Japan 0 8612/ 22
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      • Article
        Eurobond prices
        297 8 LONDON Eurobor.d prices on June 10 Straight* Bid Offer Austria 8*. 90 101 S 102 Bell Canada 8*. 86 104 V. 105'. BFCE8*. 83 101 S 102'. Brazil 9'. 84 97'. 98 Can Pacific 9S 83 103S Credit National > 86 98*. 99'. ECSC983 103 103'. EEC 8'
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      • Article
        Treasury bills tender
        101 8 RESULTS of tender held on June 10 for Singapore government 91 day Treasury bills to be Issued from June 43 to 17: Offered >40.000 000 Applied for *81.350.000 Allotted *40 000 000 Accepted bids $99 25: approximately 9%. higher bid* in full Average rate of discount on
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  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      43 8 PLEASE REMEMBER! CHANGE OF ADDRESS AND TELEPHONE NUMBERS Asia Research Pte Ltd *****45/6 Far East Trade Press Group *****17 *****93 Travelnews Asia *****07 All of the above 3 companies are now housed at: Room 2815, 28th floor International Plaza, Anson Road Singapore 2.
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Number of S' pore-built ABS ships to increase
      437 9 THE number of Slngaporebuilt ships classed to American Bureau of Shipping (ABS) standards will Increase this year. Ships, to ABS classification, on order at local yards as at Jan 1 this year, were 289 with a total of 230,465 grt. Last year.
      437 words
    • Article
      Lock icon CAB 'yes' for UK Laker flights
      131 9 Reuter WASHINGTON. Fri. The United States Civil Aeronautics Board yesterday recommended that Britain's Laker Airways be given authority to operate, low-cost "sky triin" flights" between London and New York. The unanimous recommendation by the fourmember board was sent to President Carter, who will make
      Reuter  -  131 words
    • Article
      Lock icon Ford to lay off 3,525 workers next week
      319 9 Reuter AFP DETROIT. Fri. The Ford Motor Company announced yesterday it is closing two small-car plants next week to balance its inventories. It said 3,525 workers would be laid off. Ford said it will close its Kansas City, Missouri plant with 1.950
      Reuter; AFP  -  319 words
    • Article
      $6m tugs, barges for sale and charter
      275 9 MARINE Builders Pte Ltd. is offering for sale and charter eight barges, tugs and landing craft with a total price tag of $6.3 million. These new tugs and landing craft include a single screw tug 455 BHP, two new twin screw tugs 960
      275 words
    • Article, Illustration
      IN PORT
      360 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Eastern Poseidon (0800) (Subject freeboard) 18 A.ainel Maru Tl5OO after Aegis Wisdom) 35/36 Ying Shan (BOJH) (1100 after Centaur and Anton Chekov) 44 PASIR PAN.JANG WHARVES Falisa (0700) (806-879) Gdns. 302 CB 2 Langkara (0700) (*****252) Gdns. 301 CB 6 Niaga V (0700)
      360 words
    • Article, Illustration
      $66 million container berths for PSA under construction
      334 9 TWO new container berths costing $66 million now under construction at East Lagoon, on the northern side of the Port of Singapore Authority (PSA) terminal, will cater for Increased container traffic expected in the next few years. The first berth will provide
      334 words
    • Article
      Lock icon London freight market
      208 9 AP LONDON, Fri. Japan took further grain from both the United States, Gulf and South Africa. Rates showed little change from prevailing levels, however. The Toyota Maru No. 16 received US$9.5O (FIO) for a 30,000-tonne early July shipment on ttfe US OulfJapan trade on which a Tokai
      AP  -  208 words
    • Article
      'K' Line named agents
      76 9 THE Massachusetts Port Authority has appointed 'K' Line Agency as agents for the Port of Boston. This was announced recently by Mr. Kosuke Okada, president of 'K' Line Agency, and Mr. David W. Davis, executive director of Massachusetts Port Authority. Mr. Davis said that with the
      76 words
    • Article
      Lock icon Blue Funnel container
      63 9 AFP LONDON. Frl. Britain's Blue Funnel Line Is to start a new container ship service from Trieste and Venice next month to Jeddah, Saudi Arabia, it was learned officially here yesterday. Two ships will handle the mounting goods traffic arriving in the Italian ports from Austria. Switzerland
      AFP  -  63 words
    • Article
      Lock icon Airbus to have American engines
      166 9 AFP PARIS, Frl. The makers of the European Airbus announced yesterday an agreement which will enable them to sell some of their 300-seat airliners with US Pratt and Whitney engines. The engines would be the JT9D, which powers Mcdonnell Douglas Dc-lOs and Boeing 7475. Mr.
      AFP  -  166 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      551 9 ARRIVALS sinxw Open tor Number Loca TfaM hmm CAL CPA MAS PAA CPA CAL SIA OIA THAI OIA PAL RBA SIA SIA OIA MAS KLM OIA OIA MAS TMA SIA SIA OIA MAS SIA OIA AI CI 333 CX003 MH682 PA847 CX710 CI814 SQ211 OA90O TG423 OA
      551 words
    • Article
      FAR EAST LINE . ..
      177 9 FAR EAST LINE FAR East Line, incorporated in Tokyo three years ago, started its service to Singapore and the Persian Gulf only six months ago. The company has its own barges in the Gulf to facilitate faster and more efficient loading and unloading of cargo. Far East Line has plans
      177 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      70 9 Bu SINGAPORE MC(P) 162/1/77 VOL.I N0.5 MAY 1977 PRICE:S3.OO i I m < M ii m JCR >3 o V 1 i-4 > I H COVER Credit cards MANUFACTURING Toys TRADE Timber COMMUNICATIONS Airfreight TOURISM Trends and limitations LIFE AT THE TOP Chandra Das INVESTMENT Bearings TRENDS When diamonds spell
      70 words
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  • Article
    Lock icon In Macao gambling is a way of life
    643 10  -  FOUR CASINOS ARE OPEN 24 HOURS By GRAHAM EARNSHAW Reuter THERE is not a James Bond in sight, none of the glittering sophistication of a casino royale. But the gambling palaces in the Portuguese territory of Macao have a distinctive style of
    Reuter  -  643 words
  • Article, Illustration
    Shanghainese — still a closely-knit community
    1262 10  - Shanghainese still a closely-knit community By ONG LECK KEONG UNLIKE most other Chinese dialect community groups whose clan coheslveness has been weakened by process of modernisation, the Shane-' halnesecommunity is stllla very closely-knitted community. The close association between one Shanghainese and another here as against members of other dialect groups
    1,262 words
  • Article
    Lock icon ITALY — crisis and communists
    2024 10  - ITALY crisis and communists By JACK PAYTON UPI BY ALMOST anybody's standards, Marco Lagrassa has carved out a pretty good life for himself. Lagrassa and his wife and two children live in a comfortable home near Rletl In the Appenine foothills, 65 km northeast of Rome. He works for the
    UPI  -  2,024 words
  • Article, Illustration
    Lock icon Common fund 'test case'
    353 10  -  By DAVID HOUSEGO FT IN PRESSING so hard for the establishment of a common fund the developing nations have seen it as a test case of the willingness of the Industrialised world to reform the international economic order. As originally conceived the fund would be used
    FT  -  353 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      270 10 while stocks last! FHP' 4 &BSPI 4. 111 i WW A $125/The Time* Atlas of China la far mora than a collection of detailed, up-to-date mape. It it an informative, general guide to modern China the land itaelf, and the economy and peoplea It auataina. The Atlas contains mapa of
      270 words
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  • Article
    Lock icon Mission to assess China's livestock needs
    131 11 UPI CANBERRA, Frt. A 10man Australian livestock mission organised by the Department of Overseas Trade will leave Sydney tonight for a two-week visit to China, Deputy Prime Minister Dough Anthony said. Mr. Anthony said the mission is the first to visit China and will
    UPI  -  131 words
  • Article
    Lock icon TAIWAN CUTS DISCOUNT RATE
    117 11 Reuter HONGKONG, Fri. Taiwan's Central Bank said It cut rediscount rate to 8.25 per cent from 8.75 per cent effective Immediately, the Central News Agency, monitored here, said. It quoted Central Bank governor Yu Kuo-haas saying this was the fourth cut In the rate since October,
    Reuter  -  117 words
  • Article
    Lock icon More visit Taipeh
    70 11 AP TAIPEH, Frl. Tourist arrivals In Taiwan for the first five months In 1977 totalled 478,415, up 57,423 persons or 13.6 per cent from the corresponding period of 1976, the Tourism Bureau announced today. An official of the bureau said, of the total visitors, foreign nationals reached
    AP  -  70 words
  • Article
    Lock icon Aussie balance of payments swings into $410m deficit
    375 11 CANBERRA, Friday Reuter AUSTRALIA'S balance of payments as measured by net official monetary movements swung Into a AIISI million (***** million) deficit in May from a revised $16 million surplus in April, the Statistics Bureau reported. This compared with As 22 million
    Reuter  -  375 words
  • Article
    Lock icon Philippine foreign debt rises to $14 billion
    129 11 AFP MANILA, Frl. Philippine foreign debt rose to U555,639 million (5513.8 billion) at the end of first quarter-1977 and the country's biggest creditors remained the United States and Japan, the Central Bank said today. The total amount reflected an Increase of $)22 million
    AFP  -  129 words
  • Article
    Lock icon Traders kept waiting for Peking orders
    490 11 Reuter PEKING, Frl. China's new leadership Is strengthening Its foreign trade team but businessmen are still waiting for a predicted increase In orders. Peking has appointed four new vice-ministers of foreign trade and Chinese leaders have been promising a renaissance in commerce since last
    Reuter  -  490 words
  • Article
    Lock icon Canada talks with Japanese to boost ventures
    453 11 AFP. OTTAWA, Fri. Canadian External Affairs Minister Don Jamieson and his Japanese counterpart will discuss commercial possibilities next week ranging from nuclear reactors to Joint development of aircraft and oil sands. At the same time the Canadian Minister and Foreign Minister Ilchiro Hatoyama
    AFP.  -  453 words
  • Article
    Lock icon Deposits at May high
    95 11 UPI TOKYO, Fri. Real deposits at Japan's 63 local banks In May grew by U553,533 billion (556,690 billion) to $137,322 billion, the Local Banks' Association of Japan said yesterday. The Increase in real deposits was an all-time high for any May, according to the association. The
    UPI  -  95 words
  • Article
    Lock icon Sharp rise in starts
    43 11 Reuter TOKYO, Frl. Japan's Preliminary housing starts in April rose 25 per cent to--148,000 from an upward revised 118.400 in March and were 13 per cent higher than the 131,000 In April last year, the Construction Ministry said. Reuter.
    Reuter  -  43 words
  • Article
    Lock icon Recovery at a slow pace
    266 11 UPI, Reuter TOKYO, Frl. Japan's economy Is recovering at a slow pace with lndustry-to-industry disparities remaining wide, the government reported today. The monthly report, published by the Economic Planning Agency, said the economy as a whole is recovering slowly but demand for equipment and facilities
    UPI,; Reuter  -  266 words
  • Article
    Lock icon Lower sugar prices for refiners?
    277 11 AFP CANBERRA, Fri. The prospect of some reduction in the price Japan it required to pay for Australian sugar under a longterm contract improved today following a statement by the Australian federal and Queensland state governments. Australian Overseas Trade Minister Douglas Anthony and Queensland state
    AFP  -  277 words
  • Article
    Lock icon A LARGE BUDGET CALL BY BANK
    175 11 Reuter TOKYO, Frl. The Sumitomo Bank said It is urging the Government to Introduce a large supplementary budget and aid Industries suffering from recession to prevent another slowdown In Japan's economic recovery. The bank said In a report the Japanese economy will show a
    Reuter  -  175 words
  • Article
    Harun's appeal against graft conviction dismissed
    245 11 KUALA LUMPUR, Frl. Ths Federal Ooort of Appeal today iWsialwH the appeal sf the fa urn Msntri Beoar of Selangor, Date Harun Idria, against his oonviction aad two-year Jail sH—es on chnrgee of corruption involving the Hongkong and Shanghai Raakiag Corpsretion. Delivering nn 84-page
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  • Article
    Lock icon Public works spending part of stimulus
    177 11 Reuter TOKYO, Frl. The Japanese Government Is spending on public works to ensure an economic recovery backed by a Mgh level of exports, the Economic Planning Agency said. The agency said in a report that exports continued to Increase after a sharp rise In
    Reuter  -  177 words
  • Article
    Lim Kim Hai wins sole agency
    91 11 LIM KIM HAI Electric has been appointed Shin Melwa Industry's sole distributing and servicing agents In Singapore and Malaysia for the Japanese manufacturer's fully automatic wire processing machines. These machines are capable of cutting, stripping, and twisting wires at a rate of 12,000 pieces
    91 words
  • Article
    Lock icon Doko for Russia
    38 11 Reuter TOKYO, Frl. The president of Japan's powerful Federation of Economic Organisations (Keldanren), Mr. Toshlo Doko, will make his second visit to the Soviet Union within a year on June 21. It was-an-nounced today. Reuter
    Reuter  -  38 words
  • Article
    Lock icon Fourth yen loan for Thais confirmed
    139 11 Reuter TOKYO, Frl. Japan today agreed officially to give Thailand a 24,000 million yen (***** million) loan for projects under Its five-year economic plan, the Foreign Ministry said. Japanese Foreign Minister Ilchlro Hatoyama and Thai Finance Minister Suphat Suthatham, here on a one-week visit,
    Reuter  -  139 words
  • Article
    'Give workers board seats'
    360 11 KUALA LUMPUR, Frl. Management ha* been urged to start working toward* the objective or allowing workers to take part In the decision making of the company a move tantamount to the appointment of "workers directors" with equal say with shareholders' representatives on the boards of directors
    360 words
  • Article
    Lock icon Nuclear fuel talks next month
    101 11 AFP TOKYO, Frl. A third round of Japan-United States talks on Japanese plans to reprocess spent nuclear fuel will be held In Tokyo early next month, It was announced here today. Director general Sosuke Uno of the Science and Technology Agency, In announcing this at
    AFP  -  101 words
  • Article
    Lock icon Malaysia's population
    39 11 AFP KUALA LUMPUR, Frl. Malaysia's population at the end of 1974 totalled 9.80 million an increase of 975 607 since 1970 with males slightly more than females. The male population stood at 4,959,47S and female 4,906,160. «0P
    AFP  -  39 words
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      365 11 IflWHMjsl SUBORDINATE COURTS SINGAPORE M.C. Summons No. 163 of 1977 Between UNITRON (PTE.) LTD. Plaintiffs And 1. SUPRAMANIAM s/O PILLAI 2. TAN TECK MENG 3. VALBERG LLOYD OSCAR Defendants To: Valberg Lloyd Oscar formerly of No. 8, Jalan Mata Ayer, Singapore, 27. TAKE NOTICE that an Action has been commenced
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  • Article
    Lock icon Fukuda will meet Asean leaders after summit
    241 12 Reuter TOKYO, Fri. Japanese Prime Minister Takeo Fukuda said today he had accepted separate Invitations to meet leaders of Asean at their Kuala Lumpur summit in August. Mr Fukuda told a press conference the Invitations were delivered this morning by Malaysian ambassador Llm
    Reuter  -  241 words
  • Article
    Lock icon Manila chosen as site
    88 12 Reuter MANILA, Fri. Manila was yesterday chosen as the site of the permanent Secretariat of the Association of South-east Asian Nations Council of Japan alumni during the council's first working session here. Delegates representing the Asean countries also adopted a proposed project seeking the establishment of
    Reuter  -  88 words
  • Article, Illustration
    BOA APPOINTS THREE LOCAL EXECUTIVES TO VICE-PRESIDENT
    651 12 THREE LOCAL executives of Bank of America have been appointed vicepresidents as part of the bank's sweeping reorganisation to streamline its operations in Singapore. They are Mr. Eddie Lee, 31, Mr. C.L. Khong, 43, and Mrs. Theresa Foo, 34, the first local woman
    651 words
  • Article
    Lock icon Record capital inflow for UK in first quarter
    434 12 Reuter LONDON, Frl. Britain recorded a net capital inflow of about £1.9 billion (SSB billion) In the first three months of this year, the largest ever for a single quarter, the official balance of payments statistics show. Even this record figure probably
    Reuter  -  434 words
  • Article
    Lock icon Obstacles in the way of British growth
    171 12 Reuter WASHINGTON, Frl. The International Monetary Fund said a labour shortage which developed after 1967 and excess demand have hindered the post-war growth of the British economy. In an analysis of the British economy in its survey, the IMF said British policy for
    Reuter  -  171 words
  • Article
    LONDON STOCKS
    756 12 LONDON, Frl. Government bonds advanced, helped by the latest banking statistics, first quarter balance of payment details and US Interest rate factors, dealers said. Thin conditions, however, exaggerated the advance which ranged to around one point. Equities pared or erased Initial gains for want of Interest and at
    756 words
  • Article
    Lock icon Smaller deficit expected
    114 12 Reuter FRANKFURT, Frl. The combined current account payments deficit of EEC countries this year Is likely to fall to around US$2 billion (Sss billion) from $8 billion in 1976, mainly owing to improved trade balances for France, Italy and Britain, Commerzbank AG said in a study. Among
    Reuter  -  114 words
  • Article
    Lock icon Citibank bullish on loans to poor countries
    180 12 UPI HONGKONG, Frl. Walter Wrlston. chairman of the US$64 billion (SSIS7 billion) Citibank, is bullish on lending money to developing countries. "The smart lesser developed countries know the difference between capital and money," Mr. Wrlston said in a speech to the combined Hongkong
    UPI  -  180 words
  • Article
    Lock icon TWO-WAY TRADE FALLS
    116 12 UPI MOSCOW, Fri. SovietAmerican two-way trade for the first three months of 1977 totalled U*****.4 million (Ssl.6 billion) down nearly 16 per cent from the same period last year. The United States Commercial Office In Moscow said in a report on first quarter trade that American agricultural
    UPI  -  116 words
  • Article
    Increase in feed price upsets poultry farmers
    332 12 THE rise in the price of animal feed by about $1.50 per picul (60.5 kg) since June 26 ku become a source of distress for local poultry farmer*. When contacted yesterday, a Singapore Livestock Farmers' Association spokesman said the rise had affected the
    332 words
  • Article
    Problem facing second generation leaders
    545 12 LONDON, Frl. Singapore, having succeeded in creating a little more prosperity than before, has brought up a younger generation which does not know or remember the privations of their fathers and elders, Mr. Lee Kuan Yew said over BBC radio last night. The Prime Minister
    545 words
  • Article
    Chamber meeting on import, export problems
    247 12 THE CHINESE Chamber of Commerce will meet with representative* from the import-export trade to discuti their problems tomorrow. A spokesman for the chamber said that members of its commerce subcommittee who are in the trade will have a closeddoor discussion with invited representatives from
    247 words
  • Article
    Lock icon PETROCHEM PROJECT VISIT
    88 12 Reuter TOKYO. Fri. A senior official of the Ministry of International Trade and Industry will probably visit Riyadh this month to Inform Saudi Arabia of Japan's official support for its plan to build a petrochemical complex costing between 300 billion and 500 billion yen (552.7 billion to
    Reuter  -  88 words
  • Article
    Lock icon Bonn gives $115m in soft credit to Indonesia
    362 12 Reuter JAKARTA, Frl. Indonesia and West Germany today signed a 110 million marks (SSIIS million) capital assistance agreement providing for considerably softened repayment terms In order to help Indonesia overcome its foreign debts problems. The agreement was signed here by Foreign Minister
    Reuter  -  362 words
  • Article
    Lock icon Land sale: FTC seeks injunction
    329 12 AP WASHINGTON, Frl. The Federal Trade Commission (FTC) announced yesterday it is seeking an Injunction against three firms to prohibit alleged unfair or deceptive practices in the sale of land In Western Australia. The firms are Australian Land Title Ltd of t,os Angeles, Growth International
    AP  -  329 words
  • Article
    Lock icon HSBC says closure report premature
    340 12 Reuter HONGKONG. Frl. The Hongkong and Shanghai Banking Corp said a UK press report that it was considering closing Its banking operations in California because of a tax dispute was premature. The report, in the Financial Times, quoted the president of the bank's subsidiary, the
    Reuter  -  340 words
  • Article
    Lock icon Aussie GDP dips
    123 12 Reuter CANBERRA. Frl. Australia's real Gross Domestic Product (GDP) at constant 1966/67 prices seasonally adjusted fell 0.4 per cent In the quarter ended Marqh 31 compared with a 0.7 per cent fall In the December quarter and a 2.1 per cent rise In the March 1976 quarter,
    Reuter  -  123 words
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