The Business Times, 24 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 FRIDAY, JUNE 24, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon The art of stealing
      62 1 AP MILAN, Thurs. Some 6,000 art pieces were stolen in Italy during 1976, continuing a five-year trend of thefts of precious art objects. Most of the stolen art hasn't been recovered and is believed to have been smuggled abroad and sold through an international smuggling ring.
      AP  -  62 words
    • Article
      Lock icon Ships beware
      29 1 Reuter HONGKONG, Thurs. The Hongkong Government is considering increasing the maximum penalty for ocean-going ships found discharging oil into the harbour from HK$2O,OOO (5510,575) to $400,000. Reuter
      Reuter  -  29 words
    • Article
      Lock icon North Sea oil strike
      50 1 AFP LONDON, Thurs. Another large oil strike has been made in the North Sea by the Shell and Esso companies. They said the deposit, their sixth strike in as many years and named Fulmar, would probably be producing 150,000 barrels a day by around 1981. AFP
      AFP  -  50 words
    • Article
      Lock icon 'End this confrontation'
      94 1 Reuter PARIS, Thurs. Addressing the Organisation for Economic Cooperation and Development conference, Mr. Cyrus Vance, US Secretary of State, said the world was entering a new political and economic era. He said confrontation between the rich nations of the north and the poor countries of the south,
      Reuter  -  94 words
    • Article
      Lock icon Japanese investments
      88 1 AFP TOKYO, Thurs. Japan's direct overseas investments In fiscal 1976, ended last March, totalled U553,462 million (558,516 million), a slight 5.5 per cent Increase over the preceding year, the Finance Ministry said today. The total, laid out in 1,652 cases, was the second largest after the $3,494 million
      AFP  -  88 words
    • Article
      Lock icon Two-tier price to end?
      73 1 UPI VIENNA, Thurs. A spokesman for the Organisation of Petroleum Exporting Countries said today Opec seems ready to end a two-tier oil price which has divided its 13 members since last q o j* Chief spokesman Hamld Zaherl said, "There have been a lot of developments
      UPI  -  73 words
    • Article
      Lock icon Dow Jones
      76 1 UPI NEW YORK, Thurs Stocks were mixed early today as institutions continued to adjust their portfolios prior to the third quarter, which begins in less than two weeks. The Dow Jones Industrial average, which lost 2.29 points yesterday was off 2.21 points to 924.10 shortly before the first
      UPI  -  76 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      177 1 PRO FIT-TAKING in the afternoon wiped out initial gains and shares closed on a mixed note on the Stock Exchange of Singapore yesterday. The Business Times index dropped 6.27 points to 313.11 while the Straits Times Industrial index gained 0.31 point at 253.59 on steadier trading in
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    • Article
      In Kuala Lumpur
      122 1 Rises Most octive C "iisl lefield 5 00 .60 C Securities 624.000 P.M.C. IVipints Con. M.U. Ind. M. Tobacco T ronoh kempas Kothmans Kusan Fc P.M.R.I. I). Keramat Negri Semb. Sugars M. Box Bhd 2.78 .26 G. Lumber 323 000 2 24 -.12 Pacific Dev. 316.000 1
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  • Article, Illustration
    Lock icon Some sectors lag but growth steady
    837 1  -  MAS ON THE ECONOMY By SOH TIANG KENG THE SINGAPORE economy, now in its postrecession phase, is moving along a "stable and mo derate growth" path. This latest diagnosis of the nation's economic health is given by the Monetary Authority of Singapore in its
    Source: Monetary Authority of Singapore  -  837 words
  • Article
    Dow plans to set up shop in S'pore
    792 1 DOW CHEMICAL of the United States, second largest of the world's multinational chemical groups, is looking Into the possibility of setting up a multi-million-dollar plant In Singapore. The plant, which will produce vinyl chloride monomer (VCM) for use in the manufacture of
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  • Article
    Lock icon What's shaping up for Asean's very own car
    228 1 Reuter MANILA, Thurs. Member countries of Asean will meet in Kuala Lumpur next month to decide on their participation In a complementation programme for the building of an Asean car, Philippine officials said today. The officials said that the July 11 to
    Reuter  -  228 words
  • Article
    NOODLES GO METRIC
    90 1 THE Singapore Kway Teow and Mee Manufacturers' Association, at a meeting last week with the Department of Trade, the Consumers Association of Singapore, the Weights and Measures Office and the Singapore Metrication Board, have agreed that kway teow and mee wilt be sold in metric by wholesalers
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  • Article
    Pawn brokers appeal to Lee
    183 1 THE Singapore Pawnbrokers' Association has appealed to Prime Minister Lee Kuan Yew to allow them to explain and put forward their views on the proposed legislation now before Parliament which will hit pawnbrokers as never before. Among the changes, the bill seeks to end pawnbrokers'
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  • Article
    Kempas pays $25m for stake in H and L
    366 1 IN WHAT must be one of the biggest share acquisitions this year, plantation company Kempas (Malaya) Bhd yesterday announced the purchase of a 9.9 per cent stake in the big Highland and Lowlands plantation group for just under Ms2s million. Kempas,
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  • Article
    Auction of copper machinery is wide of the estimates
    618 1 BILLED as the biggest-ever machinery sale in Singapore or Malaysia, the Copper Industries (CI) auction lived up to its name but fell far short of the auctioneers' estimates. The total net realisation from the auction of the company's industrial equipment is
    618 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      39 1 Get advanced copying technology. I Overseas News/TV' Oversea* Stocks P7 Radio P2 Commodities P8 Overseas Transport ComNews/Feature PJ munications PJ Local Co News P4 Features PlO International Co News P5 Local O Local Stocks P® News PI I. 12
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    • Advertisement
      Page 1 Advertisements Column 2
      97 1 Set Lunch If you're thinking oi a quick lunch but want to avoid the usual stuff served in town, come to Four Seasons. From Mondays to Fridays, our expert chefs prepare complete deluxe set lunches with a house specialty as the main course. Specialties like Bed Goulash Hongrosse; Veal Scallop
      97 words
    • Advertisement
      Page 1 Advertisements Column 3
      186 1 Go on Advertising a washing machine in a newspaper read by businessmen? Unorthodox but evidence shows men are often involved in the decision-making process, so we thought it appropriate to say this. Point 1 A washing machine may not be the world's most exciting gift but it's one of the
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  • OVERSEAS
    • Article
      Lock icon A buffer proposal to steady copper
      744 2 Reuter LONDON, Thurs. The use of either an international buffer stock or a number of buffer stocks to moderate the effects of short-term variations in demand for copper may be a necessary part of any overall solution to the problem of excessive price fluctuation,
      Reuter  -  744 words
    • Article
      Lock icon Consumer prices down in May
      83 2 Reuter HONGKONG. Thurs. Hongkong's "A" consumer price index fell 1.71 per cent to 115 in May and the "B" index fell 0.85 per cent to 116 (base 1973/74) respectively,s.so per cent and 5.45 per cent above May 1976. Census and Statistics Department figures show. In
      Reuter  -  83 words
    • Article
      Lock icon Zambia plans road link to bypass Zaire
      213 2 Reuter LUSAKA, Thurs. Zambia and Angola are planning a road linking the british-owned Benguela Railway to Zambia's copper belt, officials said. Railway sources in London said the aim would be to bypass Zaire. The 2,000-km railway, which stretches from the Angolan port of
      Reuter  -  213 words
    • Article
      Lock icon MOVE TO SET UP NATIONAL SAUDI OIL FIRM
      273 2 UPI BEIRUT, Thurs. Saudi Arabian officials have begun to lay the groundwork for a new national oil company to control the vast oil riches of the desert kingdom after the 100 per cent takeover of Arabian American Oil Co. (Aramco). The country's
      UPI  -  273 words
    • Article
      Lock icon Uranium firm's collapse has wide repercussions
      534 2 AP WASHINGTON, Thurs. Bankruptcy proceedings filed by a federal agency against a key producer of atomic fuel for foreign countries may disrupt nuclear programmes in some nations and could lead to millions of dollars in international lawsuits. American officials said yesterday that experts from
      AP  -  534 words
    • Article
      Lock icon Deciding Alaskan oil transport rate won't be easy
      666 2 Washington Star WASHINGTON. Thurs. The Interstate Commerce Commission (ICC) has decided unanimously to consider one of its most widely publicised cases in a decade the rates to be charged for transporting oil through the new transAlaska pipeline behind closed doors. ICC chairman
      Washington Star  -  666 words
    • Article
      Lock icon 8-NATION PLAN TO FIGHT OIL WELL BLOWOUTS
      182 2 Reuter OSLO, Thurs. Eight West European nations agreed here yesterday on a programme to combat oiiwell blowouts and pollution in the North Sea. Government ministers and officials from the eight countries called for effective emergency arrangements to tackle the kind of situation created
      Reuter  -  182 words
    • Article
      Lock icon WEST AGREES TO PROP UP LISBON WITH $1.88 LOAN
      537 2 NYT PARIS, Thurs. The United States and a group of 10 other countries agreed yesterday to lend Portugal US$75O million (SSI.B billion) to shore up its still shaky democratic regime. The US contribution, which is subject to congressional approval, will be
      NYT  -  537 words
    • Article
      Lock icon French ban on coffee ads angers Colombia
      439 2 AP LONDON, Thurs Colombia's displeasure over the French Government's temporary ban on television advertisements for coffee surfaced in public here yesterday. Juan Manuel Santos, Colombian permanent delegate to the International Coffee Organisation (ICO), said In a speech: "The recent measures taken by a
      AP  -  439 words
    • Article
      Lock icon The way to avert global starvation
      388 2 AP WASHINGTON. Thurs. Developing countries must double food production by the end of this century and reduce birth rates to avoid global starvation, a US National Academy of Sciences panel said yesterday. A committee of the Academy's national research council, after a twoyear study,
      AP  -  388 words
    • Article
      Lock icon Brace up for winter gas shortage
      253 2 AP WASHINGTON. Thurs. The US Government is warning that next winter's natural gas shortage may be as bad as last, winter's, when millions of Americans faced temporary unemployment after factories and businesses were forced to close for lack of fuel. The Federal Power Commission
      AP  -  253 words
    • Article
      Lock icon House cuts Carter's Nato spending
      121 2 Reuter WASHINGTON, Thurs. President Carter's plans to spend some US$5OO million (S$ 1.230 million) for new military facilities abroad have been cut by about 25 per cent by the House of Representatives. Managers of the legislation said the reductions were intended to give Nato the
      Reuter  -  121 words
    • Article
      Lock icon Turkish industry may face crisis
      97 3 Reuter ANKARA. Thurs. Turkish industry may face a crisis in relations with many trading partners unless the new government is given a vote of confidence and applies a coherent economic policy in the next few weeks, some senior financial and business sources -said. Turkey has
      Reuter  -  97 words
    • Article
      Lock icon Floating rate Swiss notes
      106 3 Reuter ZURICH. Thurs. Floating rate notes have for the first time been offered on the Swiss capital market, bond market sources said. The notes of a maximum 50 million francs (5549.2 million) have a spread of 0.875 per cent above the London interbank offered rate for
      Reuter  -  106 words
    • Article
      Lock icon Bonn loan terms to be discussed
      97 3 Reuter FRANKFURT. Thurs. The federal loan consortium will meet here on June 27 to discuss terms for the next government loan, a Bundesbank spokesman said. Capital market sources said they expect the federal issue to total 800 million marks (SSB36 million), carry a 6.5
      Reuter  -  97 words
    • Article
      Lock icon Seychelles gets help
      66 3 Reuter VICTORIA (Seychelles). Thurs. Twelve military experts from Tanzania arrived here today to train members of the Seychelles militia, formed after the coup of June 5 which overthrew the government of Mr. James Mancham. Two officials of the ruling party in Tanzania recently visited the Seychelles and
      Reuter  -  66 words
    • Article, Illustration
      Lock icon Second quarter GNP growth will be strong
      761 3 Reuter UPI WASHINGTON. Thurs. Budget director Bert Lance said he expects growth of at least 6V2 per cent In real Gross National Product for the second quarter, despite the first quarter's unexpected strength. Mr. Lance told Reuter in an interview the second quarter
      Reuter; UPI  -  761 words
    • Article
      Lock icon Still hope for Swiss balanced budget
      330 3 Reuter BERNE. Thurs. Swiss Finance Minister GeorgesAndre Chevallaz said he still aims for a balanced federal budget though, following defeat of the Value Added Tax proposals in the June 12 referendum, this will not occur as soon as 1979. Had the VAT proposal been
      Reuter  -  330 words
    • Article
      Lock icon Pretoria economic trends
      224 3 AFP CAPE TOWN, Thurs. Current economic trends in South Africa indicate a recovery which might allow the Finance Ministry to stimulate certain key areas within six months. Finance Minister Owen Horwood told the National Assembly here yesterday. If the May export figure of USS632 million (551.554 million)
      AFP  -  224 words
    • Article
      Lock icon Den Uyl's policy proposals
      139 3 Reuter THE HAGUE. Thurs. Labour Party leader Joop Den Uyl announced details of the social and economic policies he hopes to agree with the Christian Democratic and D' 66 parties in a new three-party coalition government. The difficulties created by the fall of the previous Government
      Reuter  -  139 words
    • Article
      Lock icon Two aim to triple their trade
      104 3 Reuter PARIS. ThUrs. France and the USSR will aim to increase their trade by 1979 to three times the 1975 level, a communique Issued at the end of Soviet President Leonid Brezhnev's visit said. The two countries agreed in 1975 to double their trade
      Reuter  -  104 words
    • Article
      Lock icon Consumer goods slowing down
      79 3 Reuter PARIS. Thurs. French consumer goods industries are expected to show slightly lower trading profits in the second half of this year after a general advance in profitability throughout French industry in the first half, the Natiol Statistics Institute said. The motor Industry may be particularly
      Reuter  -  79 words
    • Article
      Lock icon WINDS OF CHANGE IN ORGANISED LABOUR
      1099 3 NYT WASHINGTON. Thurs. Organised labour, locked in a growing struggle for influence on legislation and other governmental action, is turning from its traditional lobbying tactics to new sources of political power. Having suffered several unexpected rebuffs at the hands of Congress and the White
      NYT  -  1,099 words
    • Article
      Lock icon NOW U.S. STARTS HANDBAG DUMPING PROBE
      119 3 AFP WASHINGTON. Thurs. The United States has opened anti-dumping inquiries concerning imports of 1 leather handbags into this country from Colombia and Uruguay, the Treasury Department announced yesterday. The investigations follow a complaint from the US Leather Workers' Union. If dumping were proved, handbags
      AFP  -  119 words
    • Article
      Lock icon Belgium cuts bank rate
      111 3 Reuter BRUSSELS, Thurs. Belgium has cut its bank rate to 6 per cent from 6.5 per cent. The Central Bank's rate for normal advances is also cut to 6 per cent from 6.5 per cent. The bank's special lending rate and the rate for special advances
      Reuter  -  111 words
    • Article
      Lock icon TUC 'yes' to one-year grace before pay hike
      320 3 AFP LONDON, Thurs. The UK Trades Union Congress general council agreed by 19 votes to four that the 12month interval between pay increases should be maintained after Phase Two of pay restraint ends on July 31. But TUC general secretary Len Murray
      AFP  -  320 words
    • Article
      Lock icon Callaghan: Long haul for UK industrial recovery
      286 3 Reuter LONDON. Thurs. The recovery of UK manufacturing industry could take up to 10 years. Prime Minister James Callaghan said. Following a meeting of the government, union and industry representat'ves to discuss progress on the industrial strategy drawn up in 1975, Mr. Callaghan
      Reuter  -  286 words
    • Article
      Lock icon Save millions from waste paper drive
      154 3 Reuter LONDON. Thurs. With an announcement on wholly recycled paper, the British Government yesterday opened a national anti-waste campaign which it said could save Britain's balance of payments £250 million (551.060 million) a year. Prime Minister James Callaghan, supporting the campaign in a message
      Reuter  -  154 words
    • Article
      Lock icon Young calls off trips
      61 3 Reuter UNITED NATIONS. Thurs. America's controversial UN Mr. Andrew Young, has cancelled plans to visit Britain and Sweden, countries he has called racist, but will attend the Belgrade conference on European security, informed sources 'said yesterday. Mr. Young still plans to attend the United Nations Economic
      Reuter  -  61 words
    • Article
      Lock icon New govt may devalue peseta by 15-20 pc
      313 3 Reuter MADRID, Thurs. A devaluation of the peseta, possibly by 15 per cent or 20 per cent, is expected by financial experts here to be one of the measures the newly democratically elected Government will take to help restore health to Spain's
      Reuter  -  313 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      103 2 Anybody Looking for finance NeedsaGoodMinglb! And IBS are just the people who can do the job. On any aspect of finance, International trade, Foreign Exchange, Industrial Financing and a whole broad range of credit facilities designed for your corporate needs. We don't just talk we make it our business to
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      42 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on June 23 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      275 2 ;*i i] [if SINGAPORE 5 3.00 PM Opening announcements The Unbearable Emotion (Pt. 2 of a Mandarin film repeat) 3.55 Diary of Events (Chinese) 4.00 The Beverly Hillbillies Drysdale and Friend (Repeat) 0 4.25 Intermission 6.05 Opening announcements followed by Exercise with Gloria 6.30 News in Brief 6.35 December Bride
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      157 3 Most Outstanding Apartments in Singapore Exclusively Designed for the Business Times Readers. Zmini-Golf Course Countryside Apartments in the Heart of the City. Linked with Botanic Gardens. //< Immediate Occupation. Serene Atmosphere. **P 24 Hours Security Service. > i f upt °dZ OeA'9% 1 st (V /v Only 72 units in
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  • COMPANY NEWS
    • Article
      Electrical firms in KL show improvement
      684 4 EARNINGS announced recently by electronic and electrical domestic appliances companies in Malaysia have largely proved well in line with expectations, indicating that they have all benefitted from the general (though slower than expected) recovery from the 1975 recession. The latest to report improved pre-tax
      684 words
    • Article
      Sale nets Consolidated Hotels $9.3 m
      115 4 CONSOLIDATED Hotels has sold 37 shopping units in the Peninsula shopping complex for $9.32 million. The company says in a letter to the Stock Exchange of Singapore yesterday that proceeds from the sale received so far amounting to $7.01 million have been used to
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    • Company meetings
    • Article
      Higher prices boost profit at N. Serendah
      642 4 ALONG with the other Malaysian plantation companies. New Serendah Rubber's fortunes continue to rise with the high commodity prices. After reporting a 95 per cent increase In 1976 earnings. chairman Mr. G.S. Mac Donald pronounces that Its prospects for the current year are
      642 words
    • Article
      S. Dredging moves into the property business
      440 4 CASH-LADEN, Selangor Dredging, which runs a highly successful mining operation in the Kuala Langat district, is venturing into the property business with the acquisition of 950,000 shares of MSI.OO each for cash In Prestige Realty. These are presumably new shares allotted to Selangor
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    • Article
      CHICAGO BOARD OPTIONS
      1596 4 On June 22 CHICAGO Board Options Exchange volume was 90,498 contracts on Wednesday, down from 132,935 on Tuesday. The figures Included 5,039 puts, down from 5,399. Ten puts and 139 calls advanced while eight puts and 372 calls declined. OPTION JLY OCT JAN STOCK Alcoa Alcoa Am
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    • Article
      DIVIDENDS ANNOUNCED
      682 4 Carnal Ex Dale Total far Tatalfsr payment Data payable the year previous year Mentakab 15* June3 June 24 25* 35* Skupi-La 15% JuneS June 25 15* 15* Roxy Electric 10HTE June 2 June 27 15*TEb 20*TEc Clwwly 5*1 JuneS June 27 5*1 5* K.T. Pau 20* JuneS June
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    • Article
      Better showing by Pacific Development
      424 4 RATHER curiously, Pacific Development Credit has Issued its interim figures for the current year ending Sept 30, 1977 before publishing the annual report and accounts for 1975/ 76. The results Is a pre-tax loss of M 569,884 at the group level, which represents a considerable
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    • Article
      RUBBER OUTPUT
      96 4 May 1977 Kilograms Austral Enterprises 24,040 Ayer Molek Rubber 43,318 Benta Plantations 118,000 Buklt Katll Rubber 21,310 Castlefleld 180 573 Consolidated Plantations 1,722,000 Dunlop Estates 1,406,020 Glengowrle 32 550 Golden Hope 870 877 Guthrie Ropel 357 000 Holyrood 74 390 Hongkong (Selangor) 17,690 Inch Kenneth Kajang 52,184 Kempas(M)
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      COPRA AND COCOA OUTPUT
      19 4 May 1977 Copra Tons Cocoa Tons Dunlop Estates 42.00 Golden Hope 473.99 232.14 Patallng 3.60
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      489 4 1 Ben and Company Limited (Incorporated in Singapore) Preliminary Announcement of Results for the year ended 28 February 1977 The audited results of Ben and Company Limited and its Subsidiaries for the year ended 28th February 1977 are as follows: The Group The Company b Group sales, which do not
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Improvement likely for General Foods
      556 5 NORTH AMERICAN COMPANIES Reuter A SHRINKING profit margin has been a sore spot for General Foods the past few years, but Wall Street analysts believe a change Kay be In the wind and that le recent decline in green coffee prices could aid the turnround.
      Reuter  -  556 words
    • Article
      Lock icon Dealings by TV soon
      207 5 ASIAN COMPANIES Reuter HONGKONG. Thurs. Representatives of the four local stock exchanges agreed in principle to interexchange dealings through the use of closed circuit television. Hongkong Stock Exchange secretary and general manager Mr. Richard Witts said. He told Reuters no date has been set for the
      Reuter  -  207 words
    • Article
      NEC receives Saudi Arabian order
      85 5 TOKYO. Thurs. Nippon Electric (NEC) said it received a 2.5 billion yen order from the Saudi Arabian Government for the construction of an overall telecommunication system at Yanbu on the Saudi west coast. Managing director Mr. Katsumi Soyama told a press conference the order covers
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    • Article
      Lock icon Charter Cons bid for MK
      132 5 UK COMPANIES Reuter CHARTER CONSOLIDAted is making an agreed offer for MK Refrigeration of 180p cash for each MK Refrigeration ordinary share. The company said the MK board recommends the offer together with certain associated shareholders holding 2.458.895 ordinary shares or 34.7 per cent of
      Reuter  -  132 words
    • Article
      Lock icon Trading hours extended
      144 5 Reuter THE UK Stock Exchange will remain open for trading on June 27 until 1730 local time compared with the normal L 530 closure to facilitate initial dealings in the new offer of British Petroleum ordinary stock. The stock exchange said it expects the basis of allocation
      Reuter  -  144 words
    • Article
      Lock icon US$100m loan for Siderbras
      180 5 Reuter TOKYO. Thurs. Brazil's Siderurgla Brasllelra (Siderbras). the state-run steel corporation, has signed an agreement to borrow about US$lOO mlUion in a syndicated loan from a group of 24 Japanese banks headed by Bank of Tokyo, the Japanese bank said. The loan comprising 15 billion yen
      Reuter  -  180 words
    • Article
      Lock icon IOP may withdraw from Abadan contract
      161 5 Reuter LONDON, Thurs. The consortium of international oil companies forming Iranian Oil Participants is considering withdrawing from its agreement with the National Iranian Oil Company (NIOC) to use the Abadan refinery in Southern Iran, a consortium spokesman said. At present the consortium pays NIOC
      Reuter  -  161 words
    • Article
      Lock icon Temporary shutdown at Brent Field
      204 5 Reuter OIL production from ShellEsso's Brent Field in the North Sea will be shutdown for about four months. The companies said tanker loading ceased on June 14. The shutdown of the field is essential so phase two of construction work and hook-up of production facilities
      Reuter  -  204 words
    • Article
      Lock icon Lloyds Bank
      43 5 Reuter LLYODS BANK INTERNATIONAL has arranged an $18 million Eurocurrency loan for Ertisa of Spain to part-finance the construction of a phenol -acetone plant at Huelva. Finance is being provided by LBI, Citibank and the London branch of Deutsche Bank. Reuter.
      Reuter  -  43 words
    • Article
      Lock icon Suit against Thyssen
      170 5 AFP QUEBEC STEEL PRODUCTS (QSP) has launched a US$3B million lawsuit for breach of contract against Thyssen Steel of Canada and its parent company, Thyssen Stahl Union, of Dusseldorf, West Germany. QSP, whose assets were seized earlier this month by secured creditors, claims Thyssen's alleged refusal to
      AFP  -  170 words
    • Article
      Lock icon Firestone plant sale to Arbed
      54 5 Reuter FIRESTONE TIRE AND RUBBER said Its Firestone France unit agreed In principle to sell its steel cord plant In Lens, France, to a subsidiary of Arbed of Luxembourg. Details of the transaction were not disclosed. Firestone said It expects the sale to be completed
      Reuter  -  54 words
    • Article
      Lock icon Raytheon, Falcon merger approved
      109 5 Reuter RAYTHEON and Falcon Seaboard said they agreed In principle to set up a taxfree combination of the two firms based on an exchange ratio of one share of Raytheon common stock for each share of Falcon common stock. The agreement was approved by Raytheon directors
      Reuter  -  109 words
    • Article
      Lock icon 16 mining firms seek EEC aid
      234 5 EUROPEAN COMPANIES Reuter LONDON, Thurs. A submission from 16 European mining companies calling for concerted EEC action to protect new ventures in developing countries will be considered by the EEC Commission on July 6, informed Industrial sources said. The group, which represents 95 per
      Reuter  -  234 words
    • Article
      Lock icon Den Danske Eurobond
      57 5 Reuter LONDON. Thurs.— Den Danske Provinsbank plans to raise US$25 million through a Eurobond due 1982. lead manager SG Warburg said. The issue is expected to carry an 8 "»per cent coupon with final terms expected around June 30. Funds raised will be used for the domestic
      Reuter  -  57 words
    • Article
      Lock icon Ford plan to invest in Europe
      130 5 Reuter AMSTERDAM. Thurs. Ford Motor plans to Invest about 3.5 billion guilders in Europe (including the UK) in the three years to the end of 1979. supervisory board chairman Mr. Jan Van Den Brink told the annual meeting of Ford Nederland. The company spent
      Reuter  -  130 words
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      Page 5 Advertisements Column 1
      392 5 4 H r A *v. V* I > •4 1 v', i N fi| r f»> ii t r R i Pi sr II V' V I n i| I O < fim Si ii *1 >1 IS "J II r ?1 11 ■I 1 li IS II »ll Ra
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  • Article
    Share Information Service
    2300 6 1177 Laat o* Company Sale Gr's Gr'» Net div Dtv yld P/E OL <*, V.l (100) Day High L0W H «h L SECTION ONE 4 INDUSTRIALS 1 150cd 132 +2 +2 12.ON 1.8 12.0N 1.8 10.0 0.5 18.0 1.9 27.5 1.4 8 0 7.0 3 150 149
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  • Article
    Transactions in Singapore
    1408 6 BID and offer prices officially x« listed and business in and t« reported to the Stock Exchange Xi of Singapore yesterday i.| number of shares X In brackets In lots of l.i unless otherwise specified All T1 Time Settlement Contracts are 3 quoted arter the word Tl
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  • Article
    In Kuala Lumpur
    1609 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 Acma (1 438). CD. Alcam (1.788). A. Choc (0 818) (2)
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  • Article
    Stock options
    112 6 STRIKING price* of the atock option* officially liated on the Stock Exchange of Singapore, the periods, bid and offer price* and business done yesterday, with the number of options traded shown in bracketa. D.B.S. (Dec S3 60) (0 268) Inchcape (June $2.40) (0 02S) (55 0 05. (12
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  • Article
    Unit trusts
    153 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Managers' prices for June 24) (CuiTMt p rice*) The Commerce 1 09 1 79xd INCOME BOND 105 1.11 The Saving Fund S'pore Prof Fund SJxjre Security Fund 0.94 0 99 088 091 MARA RUMIPUTRA FUND 1.53 1.82 (Manager* price* ror June 24)
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  • Article
    CORPORATE BONDS
    158 6 B O T 8 1/2% 1981 (100.000) (102' jB 103S) B O T 7 5/8% 1984 (100,000) <98 S .B 99 1 *S) DBS Convert* 1/2% 1991 (100,000) (98'«B 995) D B 9 8 1/2% 1982 (100,000) (100 7 *B 101'»S) E I B 9% 1982 (100.000) (103HB
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  • Article
    GOVERNMENT BONDS
    130 6 Rep Spore D Mark 7% 1982 (100,000) 101 v«S) Rep Spore D Mark 6 1/2% 1983 (100,000) (98 7 *B 99 3 «S) Rep Spore 7 3/4% 1987 (100,000) (1008 IOO'jS) 5 1/4% 15/7/78 (250.000) (101.508 101 60S) 4 3/4% 1/5/79 (250.000) (100.848 100 90S>(4)100.88(4)100.87 5 1/4% 15/10/79
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  • Article, Illustration
    SELECTED GAINS
    625 7 PROFIT-TAKING in the afternoon wiped out gains and shares generally cloeed on a mixed note on the Stoch Exchange of Singapore yesterday. Wednesday's rally continued into the morning session with selected issaes posting solid gains. The lach-of followthrough buying in the afternoon had the most effect among the
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  • Article
    KLSE LOSES EARLY LEAD
    417 7 PRICES closed mixed as trading turned erratic on the Kuala Lumpur stock market yesterday. There was an early attempt at rally but sellers emerged later in the day to dampen speculators' enthusiasm. Most of the stocks affected by the selling that developed intermittently were reported to
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  • STOCK MARKET
    • Article
      Hongkong
      354 7 HONGKONG: The market closed slightly higher on Thursday with blue chips generally higher and second liners quite firm, In (airly quiet trading, dealers said. The Hang Beng Index rose 0.57 points to 437.21. Jardine Matheaoa was most actively traded, closing 10 cents higher to 115.10. while HntrH— ened 2.5
      354 words
    • Article
      Tokyo
      538 7 TOKYO: Shares closed higher after falling in early trading as major Investment trusts placed buying orders towards the close, attracted by low prices, dealers said on Thursday. The Dow Jones average gained 15.30 to close at 4,950.55 with volume 180 million shares. The New Index closed at 370.28, up
      538 words
    • Article
      Sydney
      385 7 SYDNEY: The msLrket rose on bargain hunting on Thursday, with leading Industrial BHP gaining eight cents to 94.46, dealers said. The Sydney All-Ordlnarles Index rose 1.80 points to finish at 454.20. A CI rose two cents to 9180, Natloaal Baak two cents to 92.82, Pancontinental 10 cents to 910.80,
      385 words
    • Article
      Manila
      205 7 MANILA: Oil shares rose In the most active trading of the year after Industry reports that Citie* Service* had possible signs of oil In Its South Nldo drilling, dealers said on Thursday. Shares of consortium members rose roost with Oriental B rising to 0.033 centavos from 0.023, Oriental rose
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    • Article
      Bangkok
      102 7 JUNE a Bahts Asia Fibre IBS ♦4 Bangkok Bank 315 10 Bangkok Invest 1U 4-1 Bangkok Metropolitan Bank Bata 571 unch Berll Jucker 266 unch Charoonf Thai 170 4-7 Wire Dumex Duslt Thanl Fiber Merlin First Trust Indo-Thai IMS unch Industrial Finance Corp 1205 unch J And J Ho
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    • Article
      Amsterdam
      303 7 AMSTERDAM: The market closed narrowly mixed In very quiet trading with a slight predominance of gains, dealers said on Wednesday Dutch Internationals firmed except for Unilever which was 0.50 guilders lower. Elsewhere most shippings edged higher. Banks were easier and Insurances mixed, with En>ua loosing 2.00 guilders. Industrials were
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    • Article
      Brussels
      164 7 BRUSSELS: Most Belgian shares closed higher In moderately lively trading, bourse sources said on Wednesday. iMMrvt, Ebei, Unerg, FN, Solvay, CBR and Arbcd rose while Traction, Cockerill and Asturioiwe, which fell three per cent In thin volume, were lower. UK and Dutch shares rose, Germans fell, US were mixed
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    • Article
      Frankfurt
      322 7 FRANKFURT: Shares cloeed mixed to higher In quiet trading, market sources said on Wednesday. AEG recovered from Its weakness on Tuesday gaining 1.90 marks while stores also strengthened led by Karetadt up three marks. Other leading shares were well maintained. The bond market closed up to 0.30 marks firmer.
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    • Article
      Milan
      158 7 MILAN: Stocks firmed over a broad front In fairly active trading on Wednesday, confirming Tuesday's gains, largely influenced by prime rate cuts In effect from July 1 dealers said. Most leading Industrials closed at the day's highs with flnanclals and Insurances also firmer. Mediobanca was marginally higher In Steadier
      158 words
    • Article
      Paris
      344 7 PARIS: The market was firm across the board with foreign buying the principal factor, dealers said on Wednesday. BSN, Carrofour, Aauitaine. LMT, CGE, L'oraal, La RodouU, Micholin, Sues, and Rousaol Uclaf were particularly strong. Pechinoy was steady at 79.80 francs after a forecast of higher 1977 profits. Foreign stocks
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    • Article
      Zurich
      289 7 ZURICH: The market was Irregular with an easier bias In light trading, dealers said on Wednesday. Major banks drifted lower led by Schweiaerieche Kreditaastalt. The Federal Tax authorities have opened penal proceedings against Kreditaastalt. Small losses predominated In flnanclals apart from firmer Helderbaak registered and Suedeiektra. Juvena fell after
      289 words
    • Article
      Jo'burg
      376 7 JOHANNESBURG: Gold shares eased sllghtlv on the stock exchange on Wednesday, following lower bullion Indications and small UK selling pressure, dealers said. Financial minings were slightly softer In hesitant trade, with Goklfietdi losing SO cents to 1500 and Anglos seven cents down at 398. De Boors shed five cents
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    • Article
      Toronto
      300 7 TORONTO: The market closed narrowly mixed In moderate trading on Wednesday, with the composite Index down a point In response to Indecision on Wall Street. Advances led declines 232 to 200. Of the 14 sub-Indices nine were lower while five rose. Price Co eased to 9*. Price announced Its
      300 words
    • Article
      New York
      1117 7 NEW YORK: Stocks stabilized somewhat, after retreating In early trading on Wednesday, but finished below Tuesday's closing levels Trading was active, but much less heavy than Tuesday's level. Analysts said the market was correcting an overbought condition. They noted that while popular averages have not risen significantly in
      1,117 words
    • Article
      Indices
      68 7 FINANCIAL TIMES INDUSTRIALS Wednesday 446.7 Tuesday 442.0 Week Ago 450.1 DOW JONES AVERAGE INDUSTRIALS Wednesday 926.31 Tuesday 928 60 Week Ago 917.57 LONDON DOLLAR PREMIUM Wednesday IllW to 112 Tuesday 112% to 113* H.K. HANG SENG Wednesday k 436 64 Tuesday Closed Week Ago 441.70 SYDNEY INDUSTRIALS Wednesday 372.27
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      Page 7 Advertisements Column 1
      349 7 Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar ma/am! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational JI fml* quite unlike the type that merely
      349 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      489 8 IN Singapore yesterday, prices were marked down 0.50 cent initially following easier London advices but recovered quickly on sellers reserve coupled with upcountry trade and hedge buying of nearby positions and forwards, dealers said. Volume was fair. The morning session closed slightly higher with July
      489 words
    • Article
      R.A.S. PRICES
      337 8 Noon Cloae (per kilo) (per kilo) Buyers Sellers Buyers aeuers Int. 1 R.S.S prompt f o b 187.75 188.75N 188.00 189.00N Int 1 R.s.S. July 187.75 188.25 188 25 188.50 Int. 1 R.S.S. August 189 75 190 25 190.25 190.50 Int. 2R S.S 186 50 187 50N 187.00
      337 words
    • Article
      SSR AND SMR
      90 8 July August R.A.9. (C« ireatMth) (Forward Mtk) Buyers Seller* Buyer* Seller* (em bM parks) int*perk|) SSR20 (1-ton Pallet) 189 50 191 50N 190.50 192.50N SSR 50 (1-ton Pallet) 187.50 189 50N 188.50 190.50N M.R.E.L.B SMR5CV (1-ton Pallet) 213.50 215.50N 214.50 210.SON SMR 5L (1-ton Pallet) 211.50 213.50N
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    • Article
      Closing prices
      29 8 Rubber: June 23 Singapore: July 188.25 cti (up 1.50 cts.) Malaysia: July 189.50 ctB (up 1.75 cts) Tin: $1,440 (unchanged) Official offering: 135 tonnes (down 40 tonnes)
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    • Article
      Cocoa
      218 8 LONDON, Thurs. Terminal opened quiet with prices £14 to £27 up in sales of 59 lots. Prices finished the morning £29 to I'll higher in sales of 820 lots. On Wednesday, the market quietened towards the end of the morning but light profit-taking was well absorbed and prices held
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    • Article
      Produce exchange
      537 8 A GENERALLY quiet Singapore produce market yesterday reacted indifferently to bullish news which sent the coffee price up by as much as £250 per tonne in the London terminal market on Wednesday. This mammoth rise in the commodity price was brought about by heavy buying prompted by fears
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    • Article
      Coffee
      360 8 LONDON, Thurs. Futures ended the opening session about steady as early spill-over buying from New York's "limit-up close dried up and gave way to local dealer and jobber profit-taking. Prices closed £25 to £85 up from last night. Lots traded were 615. The largest gains were in the more
      360 words
    • Article
      Palm oil
      79 8 C.I.F. Rotterdam, US dollars per ton. LONDON: WitanJay Pi**. Malaysia 5* ffa bulk SOON Aug/Sept unq Sumatra 5* 820 sir June 800 sir July 858 sir 817.50 sir Aug 500 sir 812.50 sir Sept 572.50 sir •07.50 sir Nov unch 571.50 pd Dec unch 507.50 pd Jan unch
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    • Article
      Straits tin market
      220 8 THE Straits tin price In Penang yesterday was unchanged at 51,440 on an official offering down 40 tonnes to 135 tonnes. The market failed to follow the decline In the London Metal Exchange, with some demand from the US and Japan noted, dealers added. In LONDON yesterday,
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    • Article
      Sugar
      224 8 LONDON, Thurs. Terminal opened CI.OO to C 0.50 below yesterday's 5 pm levels and sales totalled 322 lots. Prices dipped further following the opening under light mixed selling In a rather thin market to finish the morning C 1.70 to C 2.20 down. Sales were 841 lots. The London
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    • Article
      Rice
      204 8 BANGKOK, Thurs. Indicative prices quoted here were: (US dollars per tonne fob basis Bangkok). White Rice: 100 per cent Ist class 298 100 per cent 2nd 283 100 per cent 3rd 279 5 per cent 267 10 per cent 242 IS per cent 239 20 per cent 236 25
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    • Article
      Hongkong comex
      288 8 HONGKONG, Thurs. The market closed higher In quiet trading, with gains ranging from 0.35 to 0.90 US cents, following the overnight rise In New York, dealers said. March was most actively traded on commission house short covering, while May and July were untraded, they added. Total turnover rose
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    • Article
      Soybeans
      232 8 CHICAGO. Thurs. Soybean futures were showing losses across the board In early dealings yesterday, after new crop months retreated from an advance. Old crop months were down around 20 cents a bushel and new crop months were off six to three cents. Commercial buying in the November prompted local
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    • Article
      Wheat
      109 8 CHICAGO, Thurs. Wheat futures showed losses of 2% to 1 Vj cents a bushel in early trading yesterday. Prices declined to within about two cents of seasonal lows under pressure of speculative selling generated by declines In soybean and corn futures. Wheat futures parea losses late In the session
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    • Article
      Copper
      317 8 LONDON. Thurs Copper wlrebars in the morning rose by mostly £11.50 per tonne. Dealers said the Initial Impetus on the pre-market was prompted by the turnround at New York, which encouraged some fresh buying and chart operations together with profit-taking purchases following yesterday's minor sell-off. Three Months touched £804
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    • Article
      Silver
      216 8 LONDON. Thurs. Silver finished the morning with all-round gains of 2.5 pence per troy ounce. Three Months traded upto 264.8 pence in early ring dealings but slipped back finally under minimal selling pressure to 264.0 pence. Sales of 81 lots were mainly carries. On Wednesday afternoon. silver lost 3.8
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    • Article
      Gold
      365 8 FEATURELESS trading prevailed In the Singapore gold market yesterday. The kllobar opened at 5511,155 and moved In a narrow range In thin trading. The market closed at 5511,156. In the loco London gold market. The metal opened at U*****.80/140.10 In quiet trading. The price weakened to a low of
      365 words
    • Article
      Lead
      88 8 LONDON, Thurs. Lead closed the morning with losses of £2.00 for cash and C 2.50 for Three Months. There was no followthrough in the ring, however, as profit-taking pushed Three Months down to C 342 before scattered fresh buying cushioned the fall. Sales were 3,700 tonnes. On Wednesday, lead
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    • Article
      Zinc
      83 8 LONDON. Thurs. Zinc in the morning was mostly C 0.25 higher. The pre-market saw Three Months trade up to t'339 per tonne on light short covering although ring business was conducted down to 1333 as hedge selling and profittaking took over. Sales were 1.100 tonnes. On Wednesday afternoon, zinc
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      643 8 SINGAPORE'S inter-bank money market tightened again yesteray when the overnight rate hit a high of eight per cent at closing after having opened at five per cent. Dealers said that the morning session saw rates fluctuating down to the day's low of 3V» per cent before floating up again
      643 words
    • Article
      Minimum lending rates
      46 8 ACBC l First Chicago Alfrmtm Bank Bangkok Bank 6*4 7 Citibank HSBC (V, M 6 l < 7 SS Bank of Tokyo CH CH Bank Ne«ara OCBC «H Indonesia 7 OUB Chartered Bank (V. UCB 7 Chaae Manhattan 6 L L'MBC 7 DBS UOB
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    • Article
      Asian $ rates
      189 8 Asian rates ASIAN currency deposit interbank rates as at close on June 23 7 days 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths US Dollar* (Spot) Offer Bid 5 9/16 5 7/16 5 5/8 5 1/j SW 3 5/8 5 15/16 S 13/16 6 1/4 6
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    • Article
      Discount
      47 8 RANGE of price* offered by discount houses on June 23 Overnight 2 to 3% Call deposit 3% ClMiag Buy Selling 3-Month Treasury bills 3 27/8 3-Month Bank bills 4 1/16 315/16 3-Month CD 4 5/16 315/16 6-Month CD 41/2 4 3/8 Source: National Discount Co. Ltd.
      47 words
    • Article
      Euro $ rates
      102 8 Euro rates LONDON, Thurs. Period rates were adjusted higher initially following the loss of the Friday dealing technicality and have shown little movement since in quiet trading, dealers said. Shorts were also basically steady with some far eastern borrowing reported In the overnight and weekend funds. LONDON Eurodeposltj opening quotes
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    • Article
      New York
      188 8 NEW YORK. Thurs. The dollar yesterday closed weaker after an unexpectedly sharp rise in the US current account first quarter payments deficit to $4.32 billion, dealers said. The news triggered a flurry of dollar selling which New York Federal Reserve Bank intervened to stem through Swiss franc and
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    • Article
      London
      242 8 LONDON. Thurs. The dollar regained initial losses in light trading here, its early weakening reflecting a wider US current account deficit of $4.32 billion In first quarter 1977 from 1.36 billion in the fourth quarter 1976, dealers said. Elsewhere, the yen was little changed in quiet trading on its
      242 words
    • Article
      Tokyo
      75 8 TOKYO, Thurs. The US dollar for overnight delivery closed at 271.85 yen, unchanged from yesterday's close after opening at 271.50. Dollars for immediate delivery closed at 271.70 yen compared with 271.55 at the opening and 271.57 at yesterday's close. Combined spot trading volume was $204 million. Forward foliar rates
      75 words
    • Article
      Hongkong
      87 8 HONGKONG, Thurs. The US dollar was mixed in quiet, featureless trading, dealers said. Against the yen the US unit closed higher at 271.75/85 compared with its New York close of 271.67, after opening at 271.60/70. HONGKONG banknotes quoted on June 23 US 4 68/4 70 UK 8 10/8 30
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    • Article
      Australia/NZ
      62 8 AUSTRALIA/ NZ exchanges quoted on June 23. Australia: sterling 0 6488/ 0 6417 US dollar 1.1121/ 1.1073 Ninety-day air mall buying rates Sterling 0 6470 US dollars 1.1375 Ninety-day forward buying rates Sterling 0 6491 US dollars 1.1010 New Zealand: Sterling 0 5612/ 0 5581 US dollar 0 9698/
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    • Article
      Zurich
      58 8 ZURICH exchanges closing quotes on June 22 US 2 4946-4952 UK 4 2890-2910 Can 2 3535-3555 W Germ 105 91-98 Neth 100 17t24 France 50 48-52 Belg 6 91-91'. Denm 41 18-21 Norw 46 98-47 01 Swed 56 23-26 Italy 0 2818-2820 Austria 14 89-91 Port 6 44-46 Spain
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    • Article
      Frankfurt
      41 8 FRANKFURT exchanges opening quotes on June 23 US 2 3535/45 can 2 2180/2200 UK 4.045/055 Neth #4 44/54 SwlU 94 34/44 Italy 2 65/67 France 47.62/72 Norw 44 30/38 Belg com 6 52/53 Belg fin 6 52/54 Japan 0 8660/70
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    • Article
      Eurobond prices
      306 8 LONDON, Thurs. Straight dollar Eurobonds were basically unchanged in low volume trading, dealers said. Convertible dollar Eurobonds were steady in dull trading. LONDON Eurobond prices on June 23 Straight* Bid Offer Austria 890 *****2 Bell Canada 8* 86 101* l<r% BFCE 8* 83 101*. 102'. Brazil 9'« 84
      306 words
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      Page 8 Advertisements Column 1
      191 8 r oL zi&r MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken place in all important sectors of the economies of countries in East and Southeast Asia. The
      191 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Joint venture by Leyland and Renault
      298 9 Reuter LONDON. Thurs. The British Leyland motor company and the French car firm Renault, both staterun, yesterday .announced a tolnt venture which could lead to the common development of a small car engine, according to a statement issued by the two companies here last
      Reuter  -  298 words
    • Article
      Lock icon 'Don't help them to build ships'
      133 9 AFP LONDON. Thurs. The developed states should stop giving technical shipbuilding aid to developing countries, Len Edmondson, president of the Confederation of Shipbuilding and Engineering Unions, said yesterday at Scarborough. Yorkshire: He told the union's annual congress that the Organisation for Economic Cooperation and
      AFP  -  133 words
    • Article
      Lock icon Increase in exports of French cars
      349 9 AFP PARIS. Thurs. French motor manufacturers exported 145.014 cars last month. 7.6 per cent more than in May 1976, official statistics showed today. Exports in the first five months of this year, at 742.233 units, put on a 12.7 per cent spurt compared with
      AFP  -  349 words
    • Article
      Lock icon 'Pentagon withheld B1 cost estimates'
      278 9 AP WASHINGTON. Thurs. US Congressional auditors say Pentagon officials in the final days of the Ford Administration withheld estimates that the B1 bomber might cost up to 20 per cent more than the figure then cited by its supporters. The Ford Administration was estimating that
      AP  -  278 words
    • Article, Illustration
      Lock icon US-UK AIR PACT LEAVES MUCH TO BE SETTLED
      479 9 NYT NEW YORK. Thurs. The agreement on a new British-American air treaty yesterday made alterations in the pattern of airline routings that will significantly affect trans-Atlan-tic travel habits. But It left unresolved a number of Issues that will have to be settled
      NYT  -  479 words
    • Article
      Lock icon London freight market
      185 9 AP LONDON. Thurs. Atlantic grain-chartering provided the bulk of business on the London freight market yesterday amid lacklustre dealing. River Plate rates held steady as the "Iheokrates" took 15,000 tons and the "Apollonia" took 14,200 tons of grain for early July shipment to the east coast of
      AP  -  185 words
    • Article
      Lock icon Anniversary
      35 9 AFP HONGKONG, Thurs. The Peking office of the Chinese-Tanzanian Joint Shipping Company gave a reception In Peking yesterday to mark the tenth anniversary of the founding of the company. New China News Agency reported.
      AFP  -  35 words
    • Article, Illustration
      IN PORT
      347 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Butang (0600) 18 Bunga Setawar (after Shinryu Maru) 19 Elizabeth Lykes (1830 after Sophia First) 1/2 Green Island (1700) 46 North Maritime Shoun (PO) (after Vishva Yash) (Subject gas free) 14 Palm Sea Horse (P/O) (after Vishva Yash) 15 PASIR PANJANG WHARVES
      347 words
    • Article
      Lock icon Hot Imco debate on tanker safety
      321 9 AFP LONDON, Thurs. Fierce arguments on tanker safety and pollution are going on this week in London between European and Japanese delegates on the one hand and the Americans on the other at a "closed door" committee meeting of the Intergovernmental Maritime Consultative Organisation
      AFP  -  321 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      544 9 ARRIVALS Servk Local Operator Number Time From CAL CI 331 0040 TPE/HKO/KUL SIA SQ17 0325 TYO MAS MH682 0810 KCH PAA PA847 0810 SFO/HNL/GUM SIA SQ211 1015 HLP OIA GA980 1030 HLP OIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES RBA BI325 1155
      544 words
    • Article
      Lock icon ARAB-JAPAN CONFERENCE OPENS
      125 9 UPI TOKYO. Thurs. The two-day, Arab-Japan Ports and Harbours Joint Conference opened here yesterday at the Keidanren Hall with 16 experts on port and harbour facilities from seven Arab nations and 150 Japanese experts participating. delegation, led by Dr. A.K. Chanderli. senior adviser to the Arab Fund
      UPI  -  125 words
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      Page 9 Advertisements Column 1
      623 9 u c UNITED CALIFORNIA BANK Incorporated with Limited Liability in the State of California, U.S.A. CONSOLIDATED STATEMENT OF CONDITION CONSOLIDATED STATEMENT OF INCOME December 31 For the Years Ended December 31, ASSETS Cash and due from banks demand Time deposits, due from banks Investment securities U.S. Treasury and federal agencies
      623 words
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  • Article
    Lock icon Feeling the effects of malnutrition
    870 10  -  U.S. ELECTRONICS By VICTOR MCELHENY NYT LEADERS of the American electronics industry are bemoaning what they consider a low rate of growth in productivity in the United States. They are attributing this to what they call long-term "malnutrition" of research and development in many parts
    NYT  -  870 words
  • Article
    Lock icon S-E Asia — well ahead 6,000 years ago?
    554 10  - S-E Asia well ahead 6,000 years ago? By GRAHAM EARNSHAW Reuter AN American archaeologist believes that South-east Asia may have been one of the most technologically advanced areas in the world 6.000 years ago. faraheadof China and about level with the Near East. To test his theories. Dr. Chester Gorman,
    Reuter  -  554 words
  • Article
    Lock icon PUTTING MINSK ON THE MAP
    330 10 AP MINSK. USSR: The Soviet Union is building a major industrial and population centre here in the heart of Byelorussia, with local language and traditions giving way as part of the cost of progress. Minsk, on the western fringes of the Soviet Union, is not
    AP  -  330 words
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      Page 10 Advertisements Column 1
      1137 10 American Express International Banking Corporation o wholly owned subsidiary of American Express Company CONSOLIDATED FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31 1976 REPORT OF CERTIFIED PUBLIC ACCOUNTANTS CONSOLIDATED lALANCI SHEET Assets Cash and due from banks Time deposits Investment securities —at cost (notes 1, 3 and 4): U.S. Government obligations U.S.Government
      1,137 words
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  • Article
    Lock icon N-E Asia security is linked to oil
    411 11 AP WASHINGTON, Thurs. Any threat to Japan's foreign-produced energy resources will not only disrupt Its economy but inevitably "have a serious bearing on security In North-East Asia," according to a member of the Japan Trade Centre. Mr. Koichl Saito, addressing the final sessions
    AP  -  411 words
  • Article
    Lock icon Poll predicts LDP losing its majority
    214 11 Reuter TOKYO, Thurs. Prime Minister Takeo Fukuda's Liberal Democratic Party (LDP), facing Upper House elections on July 10, retains only 34 per cent of the electorate's support, a public opinion poll indicated today. The poll, taken by the Mainichi newspaper, suggests the LDP is
    Reuter  -  214 words
  • Article
    Lock icon Crude steel target
    91 11 AFP TOKYO, Thurs. Japan's crude steel production in the July-September period (second quarter of fiscal 1977) has been set at 25,450,000 tonnes by the International Trade and Industry Ministry. The figure represents a decline of 9 per cent from the corresponding period of last year, and a
    AFP  -  91 words
  • Article
    Lock icon Yen is on its own says Morinaga
    175 11 Reuter TOKYO, Thura. Bank of Japan Governor Teiichiro Moriuaga said the bank does not intervene in the foreign exchange market to maintain the value of the floating yen at a certain level or guide it to a specific target. He told a preas
    Reuter  -  175 words
  • Article
    TALKS TO REVISE NUCLEAR FUEL CONTRACT
    156 11 TOKYO, Thurs. Japanese electric power companies have started negotiations with Britain and France to revise their present contracts on spent nuclear fuel reprocessing, industrial sources said today. By revising the contracts, the Japanese companies aim at storing the fuel in these countries even without
    156 words
  • Article
    Lock icon Narita's opening
    63 11 Reuter TOKYO. Thurs. The Japanese Government plans to open Tokyo's controversial Narlta International airport next December, a Transport Ministry spokesman said today. According to the spokesman. the present plan calls for notification to be irlven to airlines now using Haneda international airport in early September after the government
    Reuter  -  63 words
  • Article
    DBS tops in study grants
    111 11 THE Development Bank of Singapore, as a private sector institution, awards the largest number of scholarships for degree courses this year. Five students from the University of Singapore have each been awarded a DBS scholarship which has an annual value of $3,500. The students are
    111 words
  • Article
    Brand new SIA theme song
    86 11 SINGAPORE Airlines has opened Its 1977 media campaign with a brand new theme song for Its advertisements on radio, television and In the theatres. While the emphasis in Its current ad campaign continues to be on the airline's inflight service and the "Singapore Girl" running
    86 words
  • Article
    This year's five President scholars
    71 11 THE Public Service Commission has selected five President Scholars for this year. They are Mr. Ang Peng Tiam from Anglo Chinese School; Miss Lim Hoon Geok. Mr. Khoo 800 Cheong, and Mr. Lee Tong Heng from Raffles Institution; and Mr. Koh Kay Yong from National
    71 words
  • Article
    Chase chief to call on Lee
    108 11 THE president of Chase Manhattan Bank, Mr. Willard C. Butcher, who Is arriving this Sunday will be paying a courtesy call on' the Prime Minister. Mr. Lee Kuan Yew. During his two-day visit, Mr. Butcher will meet leading businessmen. Industrialists and financiers, as well
    108 words
  • Article
    Lock icon Geothermal plant begins operation
    141 11 AFP TOKYO. Thurs. Japan's largest geothermal power generating plant will go into operation tomorrow. The plant, located at Kokonoe, Khushu, will have a total capacity of 50,000 kilowatts, double the 25,000 kilowatt capacity of the largest of four other geothermal plants already in operation. Khushu Electric
    AFP  -  141 words
  • Article
    Lock icon BOND YIELD LOWER
    71 11 Reuter TOKYO, Thurs. The syndicate of Japanese underwriters for national bonds will agree next week to the Finance Ministry's decision to lower the yield of 10-year bonds by 0.201 per cent to 7.286 per cent from the July issue, a syndicate spokesman said. The syndicate will also
    Reuter  -  71 words
  • Article
    METRIC SHOW
    37 11 "METRICATION and You" with modularised exhibits featuring the three common units: kilogram, metre and uire, will be held on June 24 to 26 from 6.00 p.m. to 9.30 p.m. at the Kolam Ayer community centre.
    37 words
  • Article
    Lock icon U.S. DENIES LEAVING SOUTHEAST ASIA IN THE LURCH
    682 11 NYT DENPASAR (ball), Government, academic, and business leaders from the United States and Asean have opened what organisers hope may develop into a continuing dialogue on future relationships. Organised by the Jakartabased Centre for Strategic and International Studies, the first sessions were
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  • Article, Illustration
    Average of one Freedom a year joins the NOL
    242 11 NEPTUNE Orient Lines (NOL) has been ordering Freedom-type vessels from Jurong Shipyard Limited (JSL) at an average rate of one vessel a year for the past five years. "In ordering our vessels from Jurong Shipbuilders," Mr. Michael Wong Pakshong. chairman of
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  • Article
    TALKS ON INDONESIA AT THE MANDARIN
    118 11 THE United Nations Association Singapore (UNAS) will hold its second colloquium on Indonesian economic, social and political affairs at the Mandarin Hotel tonight. The talk Is part of an ongoing series of discussions on Asean countries being carried out by the association. Tonight's speakers
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  • Article
    Sealion at zoo owes it to two firms
    117 11 THE Singapore Zoological Gardens have received donations of $100,000 from the Mitsubishi Group of Companies and $50,000 from the Marubeni Corporation towards the cost of their Sealion exhibit. The section will be officially opened by the Minister of Finance, Mr. Hon Sui
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  • Article
    Effective packaging
    75 11 THE Singapore Manufacturers' Association Packaging Council will be organising a one-day workshop on effective packaging for cost reduction and Increased sales. The workshop, to be held on July 7 at the RELC International House, will be opened by the SMA chairman. Mr. Michael Yeo. There will be sessions
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  • Article
    ITB tour of yards
    65 11 INDUSTRIAL Training Board officials, led by Its chairman. Mr. Ahmad Mattar. will be visiting local shipyards today to see their shipbuilding and repairing activities. During the visit, the ITB will also meet with representatives of the Singapore Association of Shipbuilders and Repairers for discussions on skill
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  • Article
    Lock icon Philippines to sound out the rest on rice agreement
    525 11 Reuter MANILA, Thurs. Philippine Agriculture Sec re tanArt uro Tanco will consult major rice exporting and Importing countries to find out If they want an International rice agreement, the World Food Council decided In full open session here. The Council agreed
    Reuter  -  525 words
  • Article
    Visit of JCB head
    93 11 THE managing director of JCB Sales Ltd., Mr. R.W. Ryeland, will be In Singapore on July 10 to review operations of its regional office here as part of his Far EasternAustralian tour. According to Mr. M.C. Symons, director of JCB's Far East operations, this will be
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  • Article
    Alitalia meet
    18 11 ALITALIA'S four-day meeting for the Far East and Australia begins today at the Marco Polo Hotel.
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  • Article
    Lock icon Whale quota vote a blow to Japanese
    319 11 UPI CANBERRA, Thurs. Japan and the Soviet Union, which account for about 80 per cent of the world's total whale catch, suffered a setback in the first vote on quotas at the International Whaling Commission (IWC) meeting yesterday. The IWC accepted its scientific
    UPI  -  319 words
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      Page 11 Advertisements Column 1
      350 11 Dataprep/ Data General MEMO TO: All Marketing Personnel FROM: The Personnel Manager Dataprep (S) Pte. Ltd. 2nd Floor, Marina House, Shenton Way. Singapore 2. Tel: *****11 (5 Lines) In five years Dataprep has grown to 200 employees in S.E. Asia and last year our sales exceeded $10 million. As a
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      320 11 NOTICES IN THE HIGH COURT OF THE REPUBLIC OF SINGAPORE Companies Winding Up No. 72 of 1977 In the Matter of the Companies Act (Cap. 185, 1970 Ed.) And In the Matter of CAMY OFFSET PRINTING COMPANY (PRIVATE) limited Notice is hereby given that a Petition for the winding up
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  • Article
    Lock icon Prospects of US remaining in ILO 'not bright'
    348 12 UPI WASHINGTON. Thurs. The United States is likely to withdraw from the International Labour Organisation next November, a move that could dissolve the United Nations agency, according to Labour Secretary Ray Marshall. Mr. Marshall told reporters yesterday the US complaints against the
    UPI  -  348 words
  • Article
    Lock icon Fukuda agrees to step up aid on a govt-to-govt basis
    525 12 UPI TOKYO. Thurs. Prime Minister Takeo Fukuda has decided to increase Japan's government to government aid to developing nations, a Japanese business leader said today. Shigeo Nagano, president of the Japan Chamber of Industry and Commerce, said the aid would
    UPI  -  525 words
  • Article
    JAPANESE TEAM ASSESS THAI PROJECTS
    112 12 BANGKOK. Thurs. A five-member Japanese Government team has arrived here to study development projects for which Japan would extend technical assistance in this fiscal year, a Japanese Embassy spokesman said today. He said the team, headed by Mr. Shoshichi Kowata of the economic cooperation division
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  • Article
    Lock icon Surplus not desirable
    31 12 Reuter TOKYO. Thurs. Bank of Japan governor Mf. Teiichiro Morinaga said a continued large trade surplus would be undesirable for Japan and should be offset by increased imports.
    Reuter  -  31 words
  • Article
    Ben's on the mend as group losses fall by 56 per cent
    741 12 BEN and Co yesterday posted preliminary results for the year ending Feb 28, 1977 showing heavy losses after extraordinary items of $13.4 million. The results, the first following the company's merger with Warehousing and Transportation, shows net losses
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  • Article
    Higher F&N dividend
    88 12 FRASER and Neave's total dividend for the year ending March 31, 1977, is actually higher than that paid in the slightly higher than that paid in the previous year. A report in yesterday's copy of Business Times stated that the 1975/76 dividend payment of 24 cents was
    88 words
  • Article
    Gold sale
    30 12 THE International Monetary Fund has released the invitatipn to bid for the next monthly gold auction to be conducted on behalf of the Trust Fund on July 6.
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  • Article
    Made in Malaysia portable sawmills?
    454 12 KUALA LUMPUR, Thurs. A Canadian company is negotiating with a Malaysian manufacturer to undertake the manufacture of portable sawmills under licence. If the negoltatlons are successful. Malaysian timbermen will be able to buy the portable sawmills at a price cheaper by onethird. said Mr Norman
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  • Article
    LONDON STOCKS
    787 12 LONDON. Thurs. The stock market closed mixed as government stocks firmed in quiet trading after an easier opening while leading industrials were generally easier but occasionally off the bottom, dealers said. Both short and longer dated government loans were occasionally higher on balance in light buying Interest while
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  • Article
    Lock icon 'Increase tin buffer stock price range'
    215 12 Reuter LONDON. Thurs. Some tin consuming countries have told the International Tin Council (ITC) economic and price review panel that the ITC buffer stock price range should be increased from the present Mi 1,0751,325 a picul, delegate sources said. This is revealed in a
    Reuter  -  215 words
  • Article
    HONGKONG VIEW OF NEW AIR ACCORD
    251 12 HONGKONG. Thurs. Hongkong's acting director of civil aviation, Mr. Brian Keep, said there is no great enthusiasm to fly the Hongkong US west coast route for which better provisions were made in the new US UK air agreement reached yesterday in London. The main
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  • Article
    GE to up production capacity
    96 12 GENERAL Electric (USA) Consumer Electronics in Toa Payoh is expanding its production capacity at a cost of $1.4 million to meet growing demand. According to Mr. John Holmtold. its managing director, a single-storey building with some 3.000 sq. metres of floor area is being erected
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  • Article
    Burmese overture
    33 12 BANGKOK. Thurs. President Ne Win of Burma has called for the expansion of cooperation between Vietnam and Burma for "the prosperity of the two countries." the Voice of Vietnam said today.
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  • Article
    Lock icon Mission to attract Aussie, NZ tourists
    156 12 AFP KUALA LUMPUR. Thurs. A 24-member Tourist Development Corporation (TDC) sales mission will leave for a three-week promotion tour of Australia and New Zealand on Saturday. the national news agency Bernama reported today. The deputy chairman and director-general of the TDC. Enclk Baharuddin Musa.
    AFP  -  156 words
  • Article
    Lock icon Food council ends wrangle and okays increased aid
    547 12 Reuter MANILA. Thurs. The World Food Council ministers and officials today approved a call for substantially increased aid to help developing countries lift their food production by at least 4 per cent, but said it must be combined with substantial internal investment
    Reuter  -  547 words
  • Article
    Lock icon Paris ticked off over textile curbs
    279 12 AFP Reuter BRUSSELS. Thurs. The European Commission believes that France cannot invoke legally Article 19 of the General Agreement on Tariffs and Trade (GATT) to take unilateral measures to safeguard textiles. Informed sources said here yesterday. But the commission, it is understood, is preparing
    AFP; Reuter  -  279 words
  • Article
    Yard wins contract
    60 12 SEMBAWANG Engineering Pte. Ltd., a subsidiary ol Sembawang Shipyard, has won a $1.5 million contract to build 25 pressure vessels and an offshore jacket for a number of local and overseas firms. The vessels are for use in the oil and petro-chemical industry while the jacket serves
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  • Article
    Printers review ITB training proposals
    163 12 THE Master Printers Association is reviewing a five-part proposal on apprentice training by the Industrial Training Board (ITB) and is expected to give its views on the training schemes sometime next month. The training proposals by the ITB follow recommendations made by the Association after
    163 words
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      Page 12 Advertisements Column 1
      143 12 JUNE 27 ISSUE iGJk G... Ge Or m.iMhis coupon now HIGHLIGHTS SPECIAL REPORT WORLD ECONOMIC FORECAST Comprehensive 9-page survey of the world economy for the second quarter of 1977; prepared in conjunction with W.E.F. A. KOREA THE FALLEN IDOL How Americans and South Koreans view Carters plan for gradual withdrawal
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      Page 12 Advertisements Column 2
      3 12 SEE PAGE 9
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      Page 12 Advertisements Column 3
      58 12 SEE PAGE II your office space problem may be solved for less than a 10$ phone call. *****2 *****7 We have office space to rent, from 860 sq. ft. (80 sq. m) to 6,570 sq. ft. (610 sq. m.) in Straits Trading Building. Straits Developments IVivate Limited 2000 Straits Trading
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