The Business Times, 16 July 1977
1977-07-16
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The Business Times
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Title Section10 1977-07-16 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, JULY l«, 1977 SO CENTS10 words
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NEWS IN BRIEF
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Article80 1977-07-16 1 HONGKONG, Fri. Financial Secretary Philip Haddon-Cave said he expects Hongkong to retain Its recently acquired position In the International gold market, given the growing sophistication of the local foreign exchange market and the continuing development of the colony as a financial and mercantile centre. Speaking at the80 words
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Article79 1977-07-16 1 KUALA LUMPUR, Fri. The views of labour on the Public Service (remuneration and terms and conditions of service) Bill will be made known to Datuk Hussein Onn at a meeting the National Joint Council, staff side, is seeking with the Prime Minister. According to staff side chairman,79 words
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Article34 1977-07-16 1 PETALING jaya, Fri. Trade and Industry Minister Datuk Hamzah Abu Samah has directed ministry officials to obtain details of the proposed EEC import curbs on textile products which will harm Malaysian exporters.34 words
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Article66 1977-07-16 1 UPI SEOUL, Fri. South Korea will not accept a North Korean move to enforce a 320-km economic zone effective Aug 1, the Foreign Ministry said today. A ministry statement said South Korea is opposed to the communist 320-km zone because it could create a new dispute betweenUPI - 66 words
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Article58 1977-07-16 1 UPI TOKYO, Fri. Japan and the United States agreed today to hold high-level talks In September to discuss pending trade Issues, particularly Japan's trade surplus with the United States, government sources reported. The sources said the agreement was reached at a meeting between Japanese Prime Minister Takeo FukudaUPI - 58 words
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Article50 1977-07-16 1 UPI WASHINGTON, Fri. Business Inventories Increased by US$3.3 billion (SsB.l billion) in May, equalling the largest gain of 1977, the Commerce Department said today. The department also said sales reversed a downward trend by increasing 0.2 per cent In May. Sales had dropped 0.6 per cent in April.UPI - 50 words
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Article83 1977-07-16 1 UPI NEW YORK, Frl. Stocks headed higher early today In heavy trading following an unscheduled one-day holiday because of New York City's massive power blackout. Investors were encouraged by strong second quarter earnings registered by such giants as IBM. They were restrained, however, by a US$3.2 billion surgeUPI - 83 words
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Chief Price Changes
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Article, Illustration161 1977-07-16 1 PRICES REACTED lower across a wide front on the Stock Exchange of Singapore yesterday as profit-ta-kers made the scene. Main casualties were the second and third liners, which met fairly active jAro-flt-taking ahead of the weekend. The Business Times index closed unchanged at 370.69 while the Straits161 words
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Article106 1977-07-16 1 Rises Most active U.E. (M) Hume (M) Boustead D. Keramat Sovran 1.30 1.64 1.92 7.05 1 04 .15 .14 .10 .10 .09 .08 M'sla Weaving 988,000 Pacific Dev 706,000 Utd. Engineers 466,000 Bandar Raya 389,000 Total Turnover: 5.56 M M. Rice 1.37 Total Value: MS9.53 M Pac.106 words
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Article978 1977-07-16 1 RONNIE LIM - EDB EMPLOYMENT ESTIMATES By RONNIE LIM SINGAPORE faces the herculean task of creating 35,000 new Jobs annually, or 350,000 over the next 10 years. This Is the "prudent" target given by Mr. Ong Wee Hock of the Economic Development Board, after taking Into account new978 words
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Article131 1977-07-16 1 Reuter LONDON, Frl. The International Tin Council (ITC) has established a small contact group to discuss a new price range for its buffer stock interventions in the market. The full ITC council will meet again today to try and agree on a new revised priceReuter - 131 words
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895 1977-07-16 1 LONDON, Frl. Britain's Labour Government, which has failed to reach a precise agreement with the unions on pay restraint, today Insisted that workers must still keep the total national wage increase to not more than 10 per cent. But despite895 words
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311 1977-07-16 1 A NEW Intermediate holding company has been formed In Singapore to take over the management and control of all Slme Darby subsidiaries in this region outside of Hongkong and Malaysia. The company, which was Incorporated In May, la called Slme Darby Eastern International Ltd311 words
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264 1977-07-16 1 THE Housing and Urban Development Company haa appointed Metrobilt Bovis Construction to complete its Breddell View estate. The appointment, announoed yesterday, followed the termination of the contract with Wei Giap Construction for non-fulfilment of the original tender. The HtfDC said that under new264 words
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451 1977-07-16 1 DEVELOPMENT Bank of Singapore (DBS).Is working out the details of the new $100 million ship financing scheme recommended by the Economic Activation Committee (EAC) recently. This Is being done In conjunction with the Singapore Association of Shipbuilders and Repairers (SASAR). The fund451 words
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101 1977-07-16 1 Reuter TOKYO, Ffl. Toray Industries Inc. said a group of 10 Japanese synthetic fibre manufacturers has decided to form an export cartel, subject to International Trade and Industry Ministry approval. It said the cartel Is designed to avoid excessive export competition at low pricesReuter - 101 words
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Page 1 Advertisements
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Advertisement37 1977-07-16 1 "*")%=['][,/~=~>?=-%>~_:>$"}">} Market Review*/ TV Radio Pi Oversea* Newt PJ Local Co Newi P4 International Co New* PS Local Stocki PC Oversea* Stock* P7 Commodities PS Transport ft Communications PI Feature Pli Local ft Overseas News Pll, Pl 237 words
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Advertisement60 1977-07-16 1 We are the Rolex people in Singapore Come and see us! If you are thinking of investing in a Rolex, see our fabulous range of fine watches at Eastern Watch Co. OFFICIALLY APPOINTED DEALER 285 South Bridge Road. Tel *****/***** Ground floor, Peninsula Shopping Centre, Coleman Street. Teh *****9 Ground60 words
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Advertisement123 1977-07-16 1 THE PERFECT INVESTMENT SEE PAGE 3 .Trust Sony for your video With customary vision and foresight Sony pioneered video equipment. Today, Sony is one of the world's foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most advanced and sophisticated video components.123 words
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MARKET REVIEWS
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863 1977-07-16 2 SINGAPORE JUDGING by the spread of activity and the growing volume it appeared that the bulls were back in numbers at the Stock Exchange of Singapore this week. Interrupted only by intermittent bouts of profittaking, the market displayed enough strength to863 words
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Article97 1977-07-16 2 Reuter LONDON, Fri. Total outstanding London dollar certificates of deposit rose to U5518.93 billion (5546.56 billion) in mid-June from $17.75 billion in mid-May, the Bank of England said. The closing balance of dollar CDs held in the secondary market rose to $572.4 billion fromReuter - 97 words
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420 1977-07-16 2 KUALA LUMPUR STRONG speculative supKrt continued to rule on e Kuala Lumpur Stock Exchange this week, with most of the lower-priced Issues once again taken to record levels. Right from Monday, a firm bias was seen ana the market advanced steadily ahead with the420 words
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Article74 1977-07-16 2 Reuter MELBOURNE, Fri Woedslde Petroleum said some hydrocarbon Indications were obtained on gas detection equipment at the Scott Reef no. two-A offshore well on the Northwest Shelf while drilling from 4,628 to 4.659 metres. Woodside last week reported hydrocarbon Indications higher up the well. Partners In the wellReuter - 74 words
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Article66 1977-07-16 2 NEW YORK, Frl. General Electric announced It had reached an agreement with the British National Coal Board to exchange technical information on coal In supplying energy needs. OE said topics of mutual interest covered by the agreement Include developments In coal gasification, liquefaction, fluldlsed combustion, and66 words
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523 1977-07-16 2 IVAN FALLON - LONDON By IVAN FALLON ALL WEEK long, the City and the London stock market has held its breath waiting for the.remnants of an antl-lnflatlon strategy to replace the battered and defeated social contract on which for the past 3Vt years it has built523 words
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Article159 1977-07-16 2 IT WAS Um St. Helenabaaed firm of Pilkington Brothera which invented the float proceea for making glaaa, now used (under licence) all round the world. Aa the licences run out and royalties begin to fall aharply, Pilkington ia reaping the benefit* of ita invention from the build-up159 words
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236 1977-07-16 2 THE end of the wages policy of course also signals the end of dividend restraint, scheduled to end In July next year. But ingenious methods of avoiding controls are still coming forward. 80 far, over 300 companies have paid more than the236 words
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Article357 1977-07-16 2 SYDNEY Reuter BYDNEY, Frl. Speculation about a decision on uranium mining, an increase In the domestic crude oil price and a cut in Interest rates were the main talking points on the floor of the exchange this week. The uranium miners were Eulled In all directionsReuter - 357 words
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219 1977-07-16 2 THE gentlemanly RollsRoyce Motors, all that survived in the private sector from the crash of RollsRoyce back In 1971 (theaero engine bit Is now owned by the government), has suddenly developed a thirst for takeover battles. Having tried and failed to take over the219 words
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Article213 1977-07-16 2 SLATER Walker stockholders are waiting anxiously for the details of proposals, due next week, to buy out the group's three loan stocks for cash. Stockholders felt they were misled by the loan stock reorganisation of two years ago, when Jim Slater was still In power, and are213 words
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109 1977-07-16 2 RONALD LAM - Mmmm RONALD LAM AUDITED RESULTS Company Pre-Ta* Earning! Year to Proflt/Loaa (L) Per ahare* COM) centa Dividend* B Sembawang FAN George Town Oriental Hold. Mar 77 884,717 (890,614 26.2 (36.7) Mar 77 8820,592 8119,043) 32 7 (30.2) Jan 77 M8104 (MS124 25109 words
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Page 2 Advertisements
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Advertisement273 1977-07-16 2 m l I I i Within a short period of six years, The Open University, a unique experiment in higher education, has become an established part of the educational scene. It is now recognised all over the world as one of the most important educational and social developments of this273 words
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Page 2 Miscellaneous
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Miscellaneous52 1977-07-16 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on July 15 at Singapore airport. Maximum Temperature 29.9° C Associated Humidity 81 Minimum Temperature 23.3° C Associated Humidity 99 Hours of Sunshine 5.65 Rainfhll in Millimetres NU Total Rainfall for the Month 99.2 Total Rainy Days for the52 words
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Miscellaneous265 1977-07-16 2 RADIO TV SINGAPORE 5 1.00 PM Opening followed by Sesame Street 2.00 Pre-Examination Programme Pride and Prejudice (Pt. 1) 3.10 Soccer Quadrangular Arsenal vs Red Star of Belgrade 4.15 Magazine Zero One 4.25 Sandiwara: A Malay drama Seniman (repeat) 5.05 Hazel (repeat) 5.30 Debate 77 for Inter-School (3rd Quarter-final repeat)265 words
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OVERSEAS
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491 1977-07-16 3 Reuter FRANKFURT, Frl. The German and Swiss Central Banks have modified their credit policies to halt the dollar's rapid decline which followed an OECD communique in Paris last month, foreign exchange dealers here said. The communique, which called on countries withReuter - 491 words
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Article189 1977-07-16 3 Reuter MADRID, Frl. Spain's gross national product grew by 1.9 per cent last year but the economy remained In recession, the Bank of Spain said. In Its annual report on the national economy ,/the bank noted that the 1976 GNP growth rate was an ImprovementReuter - 189 words
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Article42 1977-07-16 3 CARACAS, Frl. The Venezuelan Government has earmarked US$l.4 billion (553.4 billion) for research and development of the Orinoco oil belt which is believed to hold 1.8 trillion barrels of heavy, nonconventional oil, Basic Industry Minister, Mr. Carmeio Lauria said yesterday.42 words
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369 1977-07-16 3 Reuter FRANKFURT, Frl. The Bundesbank said the measures its credit policymaking Central Bank Coun-' cil decided yesterday are chiefly aimed to bring some relief to the domestic interbank money markets. The council, holding Its last meeting before its fourweek summer break, decided toReuter - 369 words
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Article293 1977-07-16 3 US NARROWLY-defined money supply M-l rose US$3.2 billion Ss7.B billion) in the week ended July 6 to a seasonally-ad-justed $325.6 billion according to the New York Federal Reserve Bank. More broadly-defined"M--2 rose $5.6 billion to $780 billion from a $200 million upward revised $774.4 billion293 words
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292 1977-07-16 3 AP DES MOINES. (Iowa), Frl. Documents show that US$B.3 million (5520.4 million) worth of lowa farmland is controlled by foreign Interests, with West Germans holding title to $6.4 million worth of rich producing earth. Other countries having an Interest in lowa farmsAP - 292 words
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539 1977-07-16 3 Reuter AFP NEW YORK. Frl. Full power supplies returned slowly ana uncertainly to New York City today after a total blackout which paral/sed the nation's biggest metropolis. The 10 million New Yorkers, who had sweltered without air conditioners or lights as looters rampaged throughReuter; AFP - 539 words
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Article61 1977-07-16 3 AP ST. CATHARINES (Ontario), Fri. Watergate conspirator Q. Gordon Liddy has been offered an executive position with a Canadian company that checks telephones for wiretaps. Mr. James Miller, general manager of Securlcomm Canada, said on Wednesday he offered the job to Mr. Liddy because of hisAP - 61 words
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Article283 1977-07-16 3 Reuter ZURICH, Prl. Credit Suisse does not expect the sold price to hold above uSSISO (*****) an ounce for prolonged periods for the time being, although Its longer-term outlook is not unfavourable. In a study In Its bulletin magazine, the bank said It estimates totalReuter - 283 words
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Article138 1977-07-16 3 AP WABHINOTON, Frl. Invitation to bid on the International Monetary Fund's next gold auction, on Aug 3, were sent out yesterday. The Income from the sale of 525,000 ounces will go Into the Trust Fund. The minimum bid will be 1,200 ounces and the common priceAP - 138 words
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332 1977-07-16 3 Reuter FRANKFURT, Frl. Between 1975 and end-1976, China sold approximately US$l billion (852.5 billion) worth of gold on the London market, Including 80 tonnes worth $350 million In December last year, Dresdner Bank said In a special study. These sales were used toReuter - 332 words
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Article163 1977-07-16 3 AFP LAGOS. Frl. Delegates from the world's majof cocoa-producing nations meeting at Ibadan are drawing up plans for a major programme to boost world consumption, It was reported today. The Ibadan-publlshed dally sketch newspaper reporting on the 29th general meeting of the ninenation cocoa-producers'AFP - 163 words
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Article126 1977-07-16 3 Reuter WASHINGTON, Frl. The World Bank said today It is giving Rumania a US$7l million (S$l7S million) 15year loan for a park production and proccMtna project. The project Includes pig farm modernisation, pig improvement and selection processes and the construction of modern livestock slaughtering andReuter - 126 words
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Article125 1977-07-16 3 Reuter NEW DELHI, Frl. British Overseas Development Minister Judith Hart announced here yesterday that Britain would provide £144 million (*****.6 million) In aid to India this year. Mrs. Hart, who is here on a five-day visit to discuss aid and tour British assisted development projects,Reuter - 125 words
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Article100 1977-07-16 3 Reuter TOKYO. Frl. Japan will decide on a package of reflationary measures after Prime Minister Takeo Fukuda's South-east Asia tour In mid-August, the Economic Planning Agency said. The measures may include a supplementary national budget and a cut in the official discount rate of the Bank of Japan,Reuter - 100 words
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144 1977-07-16 3 UPI TOKYO, Fri. The US govornoMnt hat formally announced plana to curb imports of mufflers, scarfs, shawls, ▼oila and handkerchiefs from Japan in retaliation for Japan's recently-enforced restrictions on imports of silh yarns and Knitted silh foods* The United States is taking the actionUPI - 144 words
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Article134 1977-07-16 3 LONDON, Fri. The European common market (EEC) Is not to blame for rising food prices In Britain, according to the chairman of the British Dairy Commission, Sir Richard Trehane. "The rise In retail food prices since 1972 has not been due to the common134 words
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Article, Illustration238 1977-07-16 3 Reuter WASHINGTON, FYI. A top European Common Market official warned today that failure of current International negotiations In Geneva will seriously undermine belief In the free trading system. Mr. Olaf Gundelach, vice president of the EEC, and also Its agriculture commissioner,Reuter - 238 words
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Article61 1977-07-16 3 AFP BRUSSELS. Fri. The European Commission decided today that New Zealand will be allowed to charge 10 per cent more from Jan 1, 1978 for butter imported by Britain under preferential arrangements. Britain will be allowed to import 125,000 tonnes of New Zealand butter next year, 120,000AFP - 61 words
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188 1977-07-16 3 AP WASHINGTON, Fri. The US Treasury Department announced yesterday It will Investigate whether Japanese motorcycles are being sold In America at less than fair value In violation of anti-dumping trade laws. The Investigation will cover motorcyies having engines with total piston displacement ofAP - 188 words
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227 1977-07-16 3 AFP BRUSSELS. Frl. The EEC Commission today asked European Economic Community governments to observe a two-year moratorium on public aid for synthetic fibres production facilities because of the present heavy structural over-capacity. In a letter to the nine governments, the Commission saidAFP - 227 words
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Page 3 Advertisements
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Advertisement314 1977-07-16 3 V&cheron Constantin Rare watches for the ©elusive few who demand the ultimate At Vacheron Constantin, we create watches for very select people. In former generations, royalty and nobility numbered among them. Today, our watches are sought after by the elite in all countries. And, you can be sure, their tastes314 words
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1060 1977-07-16 4 THE SINGAPORE Government has agreed to waive the excise duty on export sales of soft drinks to enhance the competitive ?osltlon of local manuacturers in overseas markets. This was disclosed by the chairman of Fraser and Neave, Mr. Tan Chin Tuan In his1,060 words
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Article43 1977-07-16 4 ORIENTAL HOLDINGS Consolidated pre-tax profit M 56.96 million ($5.07 million) for the year ended Dec 31, 1976. Tax $3.74 million ($2.58 million) leaving after-tax profit $3.21 million ($2.49 million). Final dividend nine per cent (same) making total 15 per cent (same).43 words
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499 1977-07-16 4 ORIENT LEASING expects a growth rate of at least five per cent for the current year ending Sept 30, 1977 which would place group pre-tax profit at around $1.35 million. However, it appears that the forecast is quite conservative for at the end of499 words
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Article1104 1977-07-16 4 MAL WALKER - QUEENSLAND ALUMINA By MAL WALKER MORE THAN seven per cent of the world's alumina, the white powder from which aluminium Is made, is supplied by a plant at Gladstone, on the northeast Australliui coast. The Dlant produces up to 2.4 million tonnes of alumina each year. Bach1,104 words
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Article, Illustration72 1977-07-16 4 THE following company meetings are due: Associated Plasties Industrie. Bhd.: July 10. 12 noon, Blllk Yahya Sanl, 10th Floor, Jaya Purl, Jalan Barat, Petallng Jaya. Cold Storage Heldiags Lid.: July 16, 12 noon, at Empire Dock, Keppel Road, Singapore 4. Metal Box Bhd.: July 19,11 a.m., Bangunan MIDF,72 words
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359 1977-07-16 4 PUBLICLY-LISTED Singapore companies are generally very prompt In delivering their accounts to the Stock Exchange of Singapore, and must do so well within the six-month period as prescribed in the Companies Act. There are, however, occasional lapses but many companies deliver their accounts In359 words
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Article34 1977-07-16 4 MR. CLAUDE GLEIZES, UTA's general manager for the Far East has announced the appointment of Mr. Jacque* R. Martin as the airline's new manager for Singapore with effect from July 15.34 words
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734 1977-07-16 4 KUALA LUMPUR. Frl. United Oriental Assurance sdn. Bhd, a venture between Indian and Malaysian interests, has drawn up a proposal to provide coverage to cattle as well as a special personal accident scheme for the "small men." Its chief executive director, Mr S.B. Naraslmhan,734 words
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Article156 1977-07-16 4 EASTERN and Oriental Hotel (1951), a subsidiary of Jack Chla-MPH and owner of the E and O Hotel In Penang has reached a management agreement with the Peninsula Group of Hongkong. Jack Chia-MPH said In a statement yesterday that under the agreement, expected to be156 words
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Article120 1977-07-16 4 SHAREHOLDERS of Sentosa Plywood have approved the company's purchase of 8.85 million shares in Faber Merlin Malaysia for M 58.85 million. The company told the Kuala Lumpur Stock Exchange yesterday that the resolution on the purchase was passed and approved at an extraordinary general meeting on120 words
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Article264 1977-07-16 4 Curreat Ex Date Total for Total for payment Date payable the year previous year Sin Hen< Chan 15% June 15 July 16 51 15% 15% Cold Stance 12.8% July 4 July 18 21.8% 20.8% Metal Box S'pore 1HI July 1 July 19 1%I Metal Box Bhd 10% June264 words
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Page 4 Advertisements
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Advertisement193 1977-07-16 4 Give usa man for a monttiwe'H give him a ■■IgUo now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency in a language they193 words
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INTERNATIONAL COMPANY NEWS
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227 1977-07-16 5 EUROPEAN COMPANIES COLOGNE, rn. Ford Werke, owned by Ford Motor of the US, plans to invest around three billion marks In the next five years, management board chairman Mr. Peter Wether said. He told the annual press conference the money will chiefly be227 words
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Article80 1977-07-16 5 ROME, Frl. Aglp, Montedison and La Sarom Refinery have formed a Joint companv Oleodottl Nord-Est to bufld a pipeline between Ravenna and the main north-east power station at Rovlgo, a Joint statement said. Oleodottl Nord-Est also plans to build new oil storage facilities In Ravenna with80 words
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Article501 1977-07-16 5 PARIS, Frl. The proportion of taxes and social security contributions paid by French companies has barely changed over the last 10 years. This Is the result of increasing tax evasion, the systematic use of loopholes in the tax regulations and the growing number of activities501 words
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Article67 1977-07-16 5 Reuter FRANKFURT, Frl. Deutsche ICI said it plans to stop production of synthetic fibres in its Offenbach plant near here by the end of this year. A company spokesman said the decision is a result of the "catastrophic state" of the German synthetic fibre Industry. However, production willReuter - 67 words
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Article201 1977-07-16 5 Reuter OSAKA, Frl. Kubota expects consolidated sales for the current year ending April IS, 1978 will be up 10 per cent or more over the preceding year. It said It Is unable to predict net Income cm the same basis for the year InReuter - 201 words
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170 1977-07-16 5 Reuter BRISBANE, Frl. MIM Holdings said it arranged to sell its 16.56 per cent stake in Thless Holdings to Bhell of Australia. The holdings comprises 7.2omillionofThless' 43.45 million 50 cent par shares issued capital, MIM said. The Thiess board approved the proposed sale,Reuter - 170 words
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Article94 1977-07-16 5 AFP HONGKONG, Frl. Green Island Cement reported that Its sales rose by 30 per cent last year and that in the first four months of this year business rose by 36 per cent. The company's profit last year was almost HKI34 million. The chairmanAFP - 94 words
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Article91 1977-07-16 5 AFP CANBERRA, Frl. The Bundaberg Sugar Company has boosted profit more than 18 per cent to a record A 810.49 million despite a fall In the sugar price in the latest year. Group earnings rose from $8.83 million on a 16.58 per cent increase In revenue toAFP - 91 words
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Article49 1977-07-16 5 Reuter TOKYO, Frl. Honda International Sales (Hlsco) said It has agreed with Ford Motor (Japan) to market Ford Fiestas and Cortlnas exclusively In Japan later this year. Hlsco, wholly-owned subsidiary of Honda Motor, said it hopes to sell about 850 Cortlnas and 1,750 Fiestas next year.— ReuterReuter - 49 words
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407 1977-07-16 5 LONDON, Frl. Company directors would be banned from buying shares In their company In Mie two months before the annual and halfyear profit statements under planned code of conduct now being discussed between the Stock Exchange and the Confederation of British Industry. They407 words
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Article841 1977-07-16 5 NYT NEW YORK, Frl. General Motors, a symbol of the nation's manufacturing might, paid record dividends of U555.55 a share on Its common stock last year. And there are analysts on Wall Street who expect a substantial increase In total dividends for 1977. Furthermore,NYT - 841 words
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Article144 1977-07-16 5 UK COMPANIES PRE-TAX PROFIT at Distillers for the year ended March 31, 1977 advanced to £130.35 million from £90.83 .mlHion previously. The 43 per cent Increase in earnings was achieved on sales of £847.17 million, up from £702.88 million. The pre-tax figure is after financial charges144 words
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Article75 1977-07-16 5 Reuter DEB EN HAMS chairman Sir Anthony Burney said he is confident 1977 will be another good year. He told the annual meeting the company has b4en able to Improve profit margins since the start of the trading year and the sales trend has been generally satisfactory despiteReuter - 75 words
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169 1977-07-16 5 Reuter IMPERIAL GROUP made a pre-tax profit of £67.5 million on sales of £1.54 billion in the first half-year ended April 30, 1977. This compares with a pretax profit of £65.1 million and sales of £1.34 billion In the 1976 half. The pre-tax profit includes InvestmentReuter - 169 words
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Article44 1977-07-16 5 TOZER KEMBELY AND MILLBOURN (HOLDINGS) said its right Issue of 7.87 million ordinary 20p shares at 35p each has been 91.5 per cent accepted. The balance has been sold for the benefit of the holders who did not take up their entitlement.44 words
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Article82 1977-07-16 5 Reuter HAWKER SIDDELEY said It made an agreed offer for Gardner and Sons of 340p cash per share, with an alternative offer of Hawker shares of comparable value. The bid values Gardner at some £14.7 million. The Gardner board recommends the offer and will accept on behalfReuter - 82 words
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Article269 1977-07-16 5 BATH PORTLAND SHARP UPTURN DESPITE higher interest of £1.43 million against £800,000, the forecast upward trend materialised at Bath and Portland Group and pre-tax profit Jumped from £1.06 million to £1.88 million In the six months to April 30, 1977. Sir Kenneth Selby, chairman, says that he looks to the269 words
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Article165 1977-07-16 5 N. AMERICAN COMPANIES Reuter MR. FRANK T. CARY. chairman of International Business Machines, said that outright purchases of data processing equipment In the second quarter of 1977 had Increased substantially compared with the first quarter of 1977 and resulted In improved quarterly earnings. Net earnings forReuter - 165 words
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Article97 1977-07-16 5 Reuter TEXACO said It has conditionally agreed with Gulf OH to build a Jointly-owned 65,000 barrel per day catalytic cracking unit and related facilities in the Pembroke/ Mllford Haven area of Wales, where both companies have refineries. The new facilities would convert heavy fuel oilReuter - 97 words
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Article56 1977-07-16 5 Reuter OWENS ILLINOIS said It expects 1977 operating results to exceed year ago levels. In 1976, Owens-Illinois earned U858.83 a share on sales of $2.57 billion, before an extraordinary credit of $4.75 a share. The company reported operating income of $1.72 a share for the first six monthsReuter - 56 words
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Article55 1977-07-16 5 Reuter GILLETTE said its Braun North America division was appointed the exclusive US marketing arm for Agfa brand consumer photographic products beginning August 3. The Agfa brands are manufactured by Agfa Gevaert Group in Belgium and West Germany. The Agfa chrome films, camera, and black and whiteReuter - 55 words
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Article87 1977-07-16 5 Reuter KAISER ALUMINIUM AND CHEMICAL reported second quarter earnings of US$2.Ol a share on sales of $634.2 million. This compared with $1.54 a share on sales of $552.8 million for the same period last year. Net earnings for the period this year were $40.3 million compared withReuter - 87 words
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Page 5 Advertisements
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Advertisement110 1977-07-16 5 '4 I It, Hi fp^x w rj k; y a u O, Have you got your copy of the lq?b 77 BUKU MERAH? It's the 1976/77 "Red Book" the office/library reference book covering the business scene in Singapore. It is complete. Built up over 80 years and updated each year.110 words
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2277 1977-07-16 6 Gr'» Gr*a Nat lf77 Lu< «Uv Di» y'W P/E Val Day High Law Company Sib e'rr COM) Hick Lew SECTION ONE INDUSTRIALS 154 136 Aetna 143xd +3 12.0N 1.0 8.3 6.7 II 143 143 204 172 Alcom 172 10.0 0.6 6.8 37.7 96 58 Allied2,277 words
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Article1406 1977-07-16 6 810 and offer price* officially listed and business In and reported to the Mock Exchange of Singapore yesterday with the number or shares traded shown in brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board1,406 words
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Article1599 1977-07-16 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 Ajlnamata (10TB S.MW) (1) I 00. Alaam (1.80B). A. Ch«« (0.908)1,599 words
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Article54 1977-07-16 6 STRIKING price* of the stock option* officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. Inch cape (Sept $2.40) e.158) (5) 0.15. (Dec .40) (O.leB). U. 0.8. (Dec $3.20) (0.16854 words
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Article140 1977-07-16 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Msaagws' Print tar July 11) ((JB1TMU *1 1.08 1.12 INCOME BOND The Commerce 1.70 1.10 MARA BUMIPUTRA FUND The Saving Fund 0.87 102 I vU&A|crt' pnc«i to Julv 18) Spoce Prof Fund 0.85 0.90 First Bumlputra 2.13 2.19 S'pore Security Fund 1.90140 words
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Article132 1977-07-16 6 BO T 8 1/2% IMI (100,000) (102*B 103*8) B O T 7 VB% IM4 (100,000) 99*8) Credit Lyonnaia Floating IMS (100.000) (96%8 998) DBS Converts 1/2% IMI (100,000) (101*B 1028) D B 8 8 1/2% IM2 (100,000) (98*B 98*8) EI 89% 1962 (100,000) (103HB 103*8) E 1 B132 words
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Article117 1977-07-16 6 Rap Spare D Mark 7% 1982 (100,000) (100*B 101*8) Rep Spore D Mark 1/2% 1963 (100,000) (99*8 90*8) Rep Spare 7 3/4% 1987 (100.000) (100HB 101*8) Orient Leasing 8 1/4% 1962 (50.000) (101 *B 102*8) 4 3/4% l/S/79 (250,000) (100.858 100.918) 5 1/4% IS/10/79 (250,000) (101.958 102.058) C117 words
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Advertisement165 1977-07-16 6 *Ven ofFWreooirsim mot with MM mucmns mi swans mm Economics Commerce Administrative Practice Secretarial Company Secretarial Practice General Principles of English Law Company Law 1 ahrwir Law Mercantile Law Sales of Goods Business Administration Business Finance Industry and Trade Labour Economics Management Accounting Business Statistics Economic Statistics British Market Opinion165 words
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Article, Illustration650 1977-07-16 7 PRICEB reacted lower icnu wide frost on the Stack Eiekaaii of SißUpon yeiterdiy u profit-takers node the Volume «u moderate and still very much oonoentrated in a dozen counter*, aeasaiy in —ett— two of tha market. At tka opeaiag, there were aaow buying order* carried aver from650 words
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Article396 1977-07-16 7 FRESH buying interest among the better-class stocks highlighted trading yesterday as the Kuala Lumpur stock market continued to advance In active conditions. Selected shares were accorded bullish Interest and the resultant substantial price gains at the close. But, on the whole, most of the previous batch of396 words
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Article363 1977-07-16 7 HONOKONO: TIM market moderate tumovar, d**f*ri said on Friday. The Hang Seng Index dropped 0.96 point to clooe at 431.31/ Interest centred on Hsaghsag leaky, which gained 10 cents to $2,918 after earlier touching $3-00. Following Its higher profit and dividend announcement and Its property revaluation Wis leiti i363 words
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Article442 1977-07-16 7 TOKYO: Share prices closed slightly lower on sporadic liquidations, dealers said on Friday. The Dow Jones Average fell 3.63 to close at 5.025.1S with volume 200 million shares. The New Index closed at 377.59 down 0.50. Export-oriented electrical*, precision Instruments and some motors continued lower In the absence of442 words
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Article373 1977-07-16 7 SYDNEY: The market cloeed mixed on Friday, with most mines firm, dealers said. The Sydney All-Ordinaries Index slipped 0.01 point to cloee at 454.83. Paaeanttemul rooe 40 cents to $11.70 and Qwsshsl Mlms and Ampel Ex firmed and Bstkl*— and Mia were steady. HHP fell eight cents to 86.04373 words
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Article148 1977-07-16 7 MANILA: The market closed generally lower as mining and oil averages declined though some commercial Issues advanced slightly, dealers said on Friday. Turnover was lower at 5.50 million pesos compared to Thursday s 0.09 million. Atlas fell six points and Lapaato one, while Martetaqtw rose two points. Oriaatal lost148 words
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Article74 1977-07-16 7 JULY I* Bahts 47 AM Fibre 1M un ctx BertlJucker Charoonf Thai 11* 173g ♦4 Duslt Thanl r*ber Merlin nrnTnui Indo-Thal Industrial Finance Corp ii" unci) ♦I J And J Ho Jalaprathan at 123 uncb ♦1 Kamajuta LeeKwancMln Metal Box Rama Tower* Safety Insurance Sana Union 1.M8 112 IMS74 words
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Article260 1977-07-16 7 AMSTERDAM: The market firmed after discussions aimed at forming a new government coalition deadlocked, dealers said on Thursday. AKZO closed one guilder higher after Akasaa lac announced higher second quarter profits. Heegeveas eased slightly among otherwise firmer Dutch Internationals. Oiisfsa led transports five guilders higher. Banks. Industrials and trading260 words
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Article150 1977-07-16 7 BRUSSELS: The market was mostly higher in quiet trading, dealers said on Thursday. Co be pa, Electraflaa, Hobokra. UCB, St-Rocb, and FN ro*. while Coekarill and ArM felT UK, U8 and Dutch Issues were mostly higher. French shares also rose, hut Oermans were little changed and gold mines slightly150 words
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Article245 1977-07-16 7 FRANKFURT: Shares closed mostly little changed, bourse sources said on Thursday. BMW (ell one mark, while Dm4mt Beak and moat other, shaias were scarcely changed. On the bond market public authority bonds rose to 0.2S marks while the regulating authorities sold seven million marks nominal of paper after virtually245 words
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Article139 1977-07-16 7 MILAN: The market cloeed generally higher In quiet trading, mainly on technical factors, dealers said on Thursday. Flat, Bastegl, Ass G—srall, both Pirellis and OUvettia. FiasMsr *b4 Miiitasis rose, while Aalc, La C—teal*. Italesm—ri and Sale Viscose lost ground. Bonds eased on selling pres- «ure. JULY 14 Ure Ante139 words
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Article265 1977-07-16 7 ZURICH: The market was slightly Irregular in calm trading, dealers said on Thursrose among banks, while In flnanclals Bally firmed In continued reaction to recent management developments. Heldarkaak was also higher but rorke declined. Among insurances, Zariek registered rose, while Wnsrfciisli knias declined. Among little changed Indus trails B*aea*265 words
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487 1977-07-16 7 NYT NEW YORK. FYI. The power failure that extinguished trading on the stock exchanges In New York also cast a pall over the other Important equity markets, the Pacific and Midwest exchanges yesterday. On Chicago's midwest stock exchange, for example, volume saggedNYT - 487 words
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Article369 1977-07-16 7 JOHANNESBURG: Gold shares were quietly firmer In line with the higher bullion price, dealers said on Thursday. Mining financial* generally advanced in Une with producers. Copper, platinums and asbestos shares declined, while other metals and minerals were little chanced. De Bean lost nine cents to 466 on lack of369 words
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Article328 1977-07-16 7 TORONTO: The market row sharply on Thursday with trading the heaviest since Jan. 27, 1075. Value of trade was third highest on record. The composite Index was up seven points to Its highest level since last Sept 22, and advances outpaced declines 273 to 146. Golds, oil and gas,328 words
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Article62 1977-07-16 7 FINANCIAL TIMES INDUSTRIALS Thursday 449.9 Wednesday 4499 Week Ago 441.4 DOW JONES AVERAGE INDUSTRIALS Thursday closed Wednesday 902.99 Week Ago 909.51 LONDON DOLLAR PREMIUM Thursday ill* to 111* Wednesday 110*. to 111* H.K. HANG SENG Thursday 431.97 Wednesday a 435.74 Week Ago 436.90 ALL ORDINARIES Thursday 454.94 Wednesday 453.3962 words
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Article655 1977-07-16 7 HOWARD HUGHES WILL NYT SAN FRANCISCO, Frl A supplemental report on the search for a Howard R. Hughes will was filed in Los Angeles Superior Court on Wednesday, and the conclusion was the same as before no will had been found and only the slenderest andNYT - 655 words
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Article82 1977-07-16 7 Reuter MELBOURNE, Frl. The drill ship "Ocean Endeavour" spudded in the Flounder Six offshore well In Bass Strait on July 12 and drilled to 289 metres before setting 20-Inch conductor, Broken Hill Pty said. The vessel moved to the Flounder site after completing a wellhead recoveryReuter - 82 words
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Advertisement53 1977-07-16 7 m V c "»*wr: s 4-: M& tmm mm gt w jf 3 m \M fj <4**? £?>&' Wa&m^'. t 4# V* S s 2 MS s z N s tv 1 L l%± .tr****-* I >4cf A/01/I/ Posf f/i/s coupon for a FREE PROSPECTUS ggp^Bgai L&c» ?w. s 25..53 words
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COMMODITY REPORTS AND PRICES
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Article418 1977-07-16 8 OPENING quotations In the Singapore rubber market yesterday were marked up 0.75 cent in line with steadier London advices. The market then advanced further on short-covering and better forward buying In fairly brisk trading with profit-taking well absorbed, dealers said. The morning session closed higher418 words
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Article30 1977-07-16 8 Rubber: July 15 Singapore: August 193.25 cts (up 2.25 cts) Malaysia: August 194.25 cts (up 1.75 cts) Tin: 51.551 (up $1) Official offering: 202 tonnes (down 3 tonnes)30 words
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Article310 1977-07-16 8 Noon (per kilo) Buyers Sellers Close (per kilo) Buyers Sellers Int. 1 R.S.S. prompt f.o.b. Int. 1 R.S.S. August Int. 1 R.S.S. September Int. 2 R.S.S. UK/Cont. Int. 3 R.S.S. UK/Cont. Int. 4 R.S.S. UK/Cont Int. 5 R.S.S. UK/Cont. 190.S0 192 25 193.75 190.29 189.25 186.50 189.50 182.50310 words
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Article81 1977-07-16 8 August irrntMtk) M a 8^ vardMtk) Sellers R.A.S. (C. <F«n Buy« mm 9MMTI atapwkc) Upvk«) SSR20 (1-ton Pallet) 191.00 192.006 192.00 193.00N SSR50 (1-ton Pallet) 188.00 189.00N 180.00 190.00N M.R.E.L.B. SMR 5CV (1-ton Pallet) 213.90 219.9011 213.90 219.90N SMR5L (1-ton Pallet) 211.00 213.0011 211.00 213.00N SMR 581 words
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Article113 1977-07-16 8 HONGKONG, Frl. The market was up to 40 cents higher, dealers said. Turnover totalled 361 tons comprising Thais 101, Kwangtlings 100 and Australlas 70 tons. Arrivals were 410 of Australlas and 450 tons of Kwangtungs. Thai White 100 per cent old crop Ist claw 102.00 N 2nd 101.30 sir113 words
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Article368 1977-07-16 8 TRADING conditions remained generally dull on the Singapore produce market as buyers awaited a clearer lead from oversea* markets. A technical reaction was seen In the copra and coconut oil market in line with the better sentiment ruling in the Philippines which saw prices moving up between US$lO368 words
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Article284 1977-07-16 8 LONDON, Frl. Renewed concern over the industrial and political situation In Ghana highlighting the likelihood of delayed shipments sent cocoa futures sharply higher after a relatively quiet opening. Prices, apart from spot July, traded to new life of contract highs the movement taking In a £40 limit rise In284 words
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Article315 1977-07-16 8 HONGKONG, Frl. The cotton futures market closed firmer on strong commission house buying following news of China buying more US cotton, dealers said. The las test USDA cotton export sales commitment showed China bought an additional 105,600 running bales of US cotton for delivery In the new 1977/78315 words
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Article64 1977-07-16 8 C.I.T. Rotterdam, US dollar* pi it ton. LONDON: Malaysia 5%ffa bulk IVaraday unq unq Sumatra 5% July uacb 510 pd Auf US air/SIT.90 pd «00(*d Sept UO slr/510 pd 400 qtd Oct sir 500 MOp d 400 qtd Jan 400 pd Nigerian 5% ffa bulk unq unq ROTTERDAM:64 words
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Article195 1977-07-16 8 THE StralU tin price in Fenang yesterday was up $1 to $l7»l on an official offering down 3 tonnes to 202 tonnes. The market held steady on further buying support from all sources, especially the UB, and also In line with overnight higher London metal prices, dealers195 words
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Article142 1977-07-16 8 LONDON, Frl. Terminal sugar opened the morning £0.20 per tonne up from last night (near August at £104.70 bid} to £0.20 lower In thin trading. Both me London dally raws and whites prices were unchanged at £103 and £114.50 per tonne respectively. Sugar futures steadied on renewed weekend shortcovering142 words
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Article276 1977-07-16 8 LONDON, Frl. Coffee futures generally eased slightly and by midmorning most positions showed losses of £5.00 to £20 per tonne. Trading was very thin with only 59 lots changing hands during the opening call. Spot July was a firm feature, however, with a gain* of about £70. Dealers said276 words
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Article184 1977-07-16 8 CHICAGO, Frl. Soybean futures yesterday finished an abbreviated session with 30 cent a bushel limit gains across the board for the second consecutive day. Although trading was delayed 2tt hours, strong buying Interest reappeared at the opening and prices were bid up the limit at the opening on a184 words
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Article77 1977-07-16 8 CHICAGO, Fri. Wheat futures yesterday closed the morning with a gain of two cents a bushel In the spot month and gains of lttto cent in other months. Prices moved up to the day's highs In the minutes following a delayed opening and held to a narrow range In77 words
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286 1977-07-16 8 CONDITIONS could be described alternately as slow, thin and uncertain, although levels had ruled higher than the previous week, said Holiday, Cuttor ft Bath In its weekly review of the Singapore and Malaysian rubber markets. The steadier undertone was Initially induced by a minor286 words
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Article203 1977-07-16 8 LONDON, Frl. Copper wlrebars In the morning showed gains of £3.50 for cash and £2.50 for Three Months. Values worked higher on the pre-market under lightweight covering prompted by continued firmness In gold and silver together with expectations of a modest decline In warehouse stocks this week, dealers said.203 words
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Article79 1977-07-16 8 LONDON, Frl. Zinc In the morning rose by £5.00 for cash and £4.00 for Three Months reflecting general steadiness in other base metals. Three months traded upto £332 In the pre-market but the higher levels were shaded tn the ring where fresh buying Interest slackened In the face of79 words
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Article265 1977-07-16 8 OOLD opened at 8511,487 In the Singapore market yesterday. Prices fluctuated In a range of 5840.00 and closed at 8511,472 in dull trading. In the loco London market, the metal opened at U*****.80/144.20 and closed at the same level: The London morning fix was U*****.15, up 30 cents on265 words
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Article146 1977-07-16 8 LONDON, Fri. Lead closed the morning with gains of £6.50 for cash and £8.00 for Three Months. There was no follow through to yesterday afternoon's trade selling and values recovered on covering against recent sales, mainly to the USSR and protective buying In anticipation of further business in that146 words
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Article98 1977-07-16 8 LONDON, Frl. Silver in the morning gained 2.7 to 2.5 pence with Three Months trading finally at 270.02 pence. But after reaching 270.8 pence In the pre-market on shortcovering demand the market was restrained by chart resistance around 271 pence and light profittaking In the ring shaded values. Turnover98 words
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154 1977-07-16 8 BUENOS AIREB, Fri. Argentine grain and edible oils exports registrations from December 1, 1978 to July 4, 1977 totalled 12,339,900 tonnes, according to Argentina Oraln Board Statistics. The breakdown is as follows (in thousand tonnes): bread wheat 4,412.7, durum wheat 301.6,1 maize 3.318.6,154 words
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Article48 1977-07-16 8 Reuter MEXICO CITY, Frl. Mexico's soybean crop Is expected to total 460,000 tonnes this year, 57 per cent up on 1976, the Agriculture Ministry said. It said 262,000 hectares of land were now under soyabean cultivation, an Increase of 46 per cent over last year. Reuter.Reuter - 48 words
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MONEY AND EXCHANGES
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Article467 1977-07-16 8 THE US dollar rallied against the Japanese yen but fell against the Deutschemark in the Singapore foreign exchange market yesterday. Dealers, however, said that the tendency is for the dollar to weaken all round following the increasing US trade deficit and lack of central bank intervention in money markets467 words
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Article48 1977-07-16 8 ACBC First CUm(o «H (V, Citibank IH Paitfk# Btik 7 HSBT Ball if Auriri CH IminaiMi* IK Bank oi China 7 «H Rank «f Tokyo MiUui Buk B«iU Ne«ira Indoaeiii OCBC «H 7 OUB Ik UCB 7 rV._ M..k>ltaa 111 UMBC 7 DBS I UOB48 words
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Article127 1977-07-16 8 Asian rates ASIAN currency deposit Interbank rate* u at close on July 15. USDaUai Ottm TJJ-' 7day* 1 mth 2 mthi 3mthi 8 mth* 9 mthi 12 mth* •an* 515/18 5 3/4 57/1 3/16 5/l« 7/1# 57/16 513/16 55/S 53/4 61/16 63/16 65/16 1 mth 3 mth* mth* 12 mth*127 words
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Article52 1977-07-16 8 RANGE of prices offend by discount houses on July IS Oernlfht 2 to 3% Call deposit 3S nidM Buy SeOtec 3-Month Treasury bills 3 2 7/1 3-Month Banksb (lis r 4 1/B 4 9/lt 4 3/1 11/16 4 1/2 3-Month 6-Month Ct Ct 1 4 4 Source: National Discount52 words
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Article133 1977-07-16 8 Euro rates LONDON, Prl. Eurodollar deposit rates opened steady with weekend Influences making for low volume trading, dealers said. Small rollover and Far Eastern business was reported In period funds. The One Month rate firmed 1/4 point on a Friday-end technicality. Four Months, which eased 1/8 point on the loss133 words
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Article48 1977-07-16 8 RESULTB of tender held on July 15 for 91-day Singapore Oovernment Treasury bills to be issued from July 18 to July 22. Offered: *25,000,000 Applied for: 363.200,000 Allotted: 825,000,000 Accepted Bids: 899.26; approximately 63%, higher bids In full Average rate of discount on allotment: 2.070% pa.48 words
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Article344 1977-07-16 8 LONDON, Frl. The dollar held steady against the mark and Swiss franc and strengthened against the yen in moderate early trading, dealers said. Cuts in key German and Swiss Interest rates, and a rise in US money supply, helped the dollar. Some dealers said remarks by Bundesbank president Emmlnger344 words
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Article98 1977-07-16 8 NEW YORK. Frl. The dollar was stronger yesterday on balance at the end of a trading session done with European dealers, dealers said. New York lnter-bank trading was halted because of the clty-wlde power failure. Dealers said the dollar rose following cuts In the German Lombard rate and98 words
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Article110 1977-07-16 8 HONGKONG, Frl. The US dollar eased to 2.2890/00 marks In moderate trading from yesterday's London close of about 2.2900/15 after opening slightly higher at 2.2915/25, dealers said The US unit firmed slightly against the yen to 265.10/30 from yesterday's London closing midpoint of around 264.70, after opening at 265.00/10110 words
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Article53 1977-07-16 8 AUSTRALIA/NZ exchanges on July 15. Australia: Sterllnc 0 6661/0 6481 US dollar 1 1245/1 Jlo7 Ninety-day air mall buylnf rates Sterllnc 0.6748 US doOan 1 1500 Ninety-day forward buylnf rates: Sterling 0 6672 US doltan 1 1134 New Zealand: Sterling 0.3868/0.5626 US dollar 6.6774/0.9674 Ninety-day forward rate: BterUnc 0.587653 words
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Article49 1977-07-16 8 ZURICH exchanges closing quotes on July 14. US 2.4300-4210 UK 4.1(06-1830 CM 2 2825-2840 w Oarm 106.57-87 Neth 96 85-85 France 48.73-78 Belf 8.77 *.-78* Denm 40.40-53 Norw 45 77-48.00 Swed 55 32-38 Italy 0.2741-2743 Austria 14.80-01 POft 8.27-28 Spain 2 .78-70 Ar« 0 55-85 Japan 0.81 *-81%49 words
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Article36 1977-07-16 8 FRANKFURT exchanges opening quotes on July 15 US 2.2810/30 Can 2 1815/35 UK 3 .#37/847 Netll 83.48/56 SwtU 84.82rtl Italy 2 501/801 France 47 OS/13 Norw 43.45/53 Belt com 8.41/42 Beic fin 8.38/40 Japan 8.8830/4036 words
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Article137 1977-07-16 8 TOKYO, Frl. The U8 dollar for overnight delivery firmed to close at 265.27 yen compared with 264.90 opening and 264.70 at yesterday's close, on Increased dollar demand from Japanese banks, dealers said. Some dealers said they were not sure whether the central bank had intervened, but other said they137 words
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Article9 1977-07-16 8 LONDON straight and convertible Eurobond prices were unavailable9 words
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Article78 1977-07-16 8 Reuter ZURICH, Frl. Major Swiss banks decided to cut the rates on time deposits of up to 12 months by 0.25 percentage points immediately, banking sources said. The new rate for deposits from three to five months Is 2.5 per cent and that for deposits fromReuter - 78 words
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Advertisement187 1977-07-16 8 t n MONTHLY ECONOMIC REPORTS With monthly political lupphimnt for UP-TO-DATE HANDY REFERENCE s. s 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.187 words
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TRANSPORT AND COMMUNICATIONS
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Article, Illustration179 1977-07-16 9 AP SYDNEY, Fri. Britain's maverick airline operator, Freddie Laker, arrived in Sydney today to discuss establishing cut-rate air flights between Britain and Australia, a service he hopes to Inaugurate before Christmas. Mr. Laker, chairman and sole owner of Laker Airways, said he plans toAP - 179 words
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118 1977-07-16 9 KUALA LUMPUR, Fri. Thirty employees of British Airways here will receive increased wages and better fringe benefits under a collective agreement signed today between the airline employees' union and the airline. The workers, all based in Kuala Lumpur, will get an average 12.6118 words
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Article118 1977-07-16 9 AFP NEW YORK, Fri. The oil company Atlantic Richfield is today marketing in the United States a new fuel for motorists blending graphite with premiumgrade petrol. The mixture is dearer than high* grade petrol but is claimed to give more kilometres per litre for aAFP - 118 words
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Article39 1977-07-16 9 Reuter DETROIT, Fri. Sales by America's big four car makers continued strongly in early July, 16 per cent up from a year ago, led by a 24 Cr cent increase at Oeneral otors, the companies reported. ReuterReuter - 39 words
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Article439 1977-07-16 9 Washington Star WASHINGTON, Fri. The Carter Administration, still polishing Its energy programme In hopes of gaining Congressional support (or a gasoline tax, is now devising a plan to subsidise commuters riding in car pools to get to work. The car pool Idea was amongWashington Star - 439 words
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Article110 1977-07-16 9 AFP CAIRO, Fri. The Arab Fund for Economic and Social Development decided yesterday to lend Egypt U5541,500,000 (B*lo2 million) to widen the Suez Canal, It was learned here. The loan wll help to finance the first stage of improvements to the International waterway. The rateAFP - 110 words
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Article87 1977-07-16 9 THE Port of Singapore Authority's (PSA) fire training school will conduct a two-week fire administration and prevention course for fire and safety officers from Aug 1. The course will be held in Pulau Branl and will cover principles and practices of supervision, plan reading, recognition of87 words
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Article182 1977-07-16 9 Reuter KUMAMOTO. (Western Japan), Frl. A 508,700ton Japanese-built tanker costing 25 billion yen (***** million) will be handed over to the Exxon Corporation of America next week, It was announced here today. The 406-metre long Esso Atlantic, christened yesterday, Is the world's fourtlA largest tankerReuter - 182 words
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Article86 1977-07-16 9 AFP LONDON, Frl. The maritime freight markets is likely to remain in a sluggish state for the rest of this year, according to brokers Eggar Forrester here. They said the chief reason for stagnant shipping business appeared to be the insufficient recovery of the West German andAFP - 86 words
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Article213 1977-07-16 9 LLOYD Trlestino, Soc. per Az dl Nav., based In Trieste, Italy, operates a container/conventional service to and from the Far East. It is also a member of the Mediterranean Par East Container Service (Med Club) which offers a regular service between the Far East and the Mediterranean, with213 words
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Article113 1977-07-16 9 AP SOUTH FIELD, (Michigan). Frl. American Motors Corp. has been awarded a US$l4.7 million (Ss36 million) contract to build 119 electric trackless trolleys for metropolitan Seattle, Washington, AMC's busmaking subsidiary announced. The trolley buses, which are powered from overhead wires, are the first of their type toAP - 113 words
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183 1977-07-16 9 Reuter COLOGNE, (West Germany), Fri. The West German Airline Lufthansa yesterday decided to buy 11 Boeing aircraft worth about Dm 1 billion (SSI billion), Lufthansa's biggest ever aircraft order. A Lufthansa statement said the decision to buy five of the new generation of 747Reuter - 183 words
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Article88 1977-07-16 9 AN oil spill control course Is now on at Esso's regional training centre here. It Is part of the company's efforts to minimise accidental oil spills. Some of the topics under discussion are the principles of oil containment, oil recovery techniques, prevention of oil spills and88 words
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197 1977-07-16 9 Reuter i DETROIT, Fri. The Ford Motor Co yesterday said It was pulling out of an agreement with the US Transportation Department to test airbag safety systems in some 1980 and 1981 model cars. Company chairman Henry Ford said the decision was basedReuter - 197 words
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Article256 1977-07-16 9 AP LONDON, Fri. North and South American grain .chartering sparked more activity on the London freight market yesterday. A greater volume of tlmecharter business materialised to give the overall market a much more active appearance. But the pattern of Inquiry was insufficient to guarantee sustained briskness. GreatAP - 256 words
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Article, Illustration340 1977-07-16 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Able Reefer (1600) 40/41 Bountiful Country (0600 after Golden Glory) (Subject free board 23) Colorado (after Hoegh Pilot) 6/7 England Maru (after Tenko Mary and Jaladuhlta hauls) 33/34 Jaladuhlta (0530 hauls 15m East) 35/36 Kapltan Anlstratenko (after Falrsky) 3/4 Kobe Maru (JIXJ) (0700)340 words
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Article587 1977-07-16 9 ARRIVALS service Local Operator Ntuabcr Tfam From CAL CI 333 0400 TPE/HKO/KUL CPA CX003 0145 HKO MAS MH682 0810 KCH CPA CX710 1000 HLP CAL CI814 1000 HLP OIA OA 980 1030 HLP THAI T0423 1035 BKK 8IA SQ211 1045 HLP OIA OA944 1055 PKU OIA QA908587 words
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Article104 1977-07-16 9 UPI ROME, Frl. Italy's bus and streetcar workers began a 24-hour strike at midnight (2200 GMT) yesterday, accusing transportation companies of ignoring contract stipulations. First reports did not say how effective the walkout was. Past transportation strikes resulted in large traffic Jams as people drove to workUPI - 104 words
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Advertisement427 1977-07-16 9 THESE ARE THE BOOKS THAT HITLER BURNED V/. i I —-r-r— F E .<# S i vT ft S£g g" >» w <_* w- «81M 1?1S"" E i 1 Jliliilii; k "fe&k i r® i i I' *ll j t I siisii ii ij THE GREAT BOOKS OF WESTERN CIVILIZATION427 words
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Article, Illustration2319 1977-07-16 10 THE INFLATION ACCOUNTING DEBATE FT LONDON: Events of the past two weeks have highlighted the need to identify clearly the real issues in the Inflation accounting debate. During the period widely divergent opinions have been expressed. On the one hand the Accounting Standards CommitteeFT - 2,319 words
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Article325 1977-07-16 10 INFLATION accounting has been thrown back into the melting pot with a vengeance. The Morpeth steering group's current cost accounting (CCA) proposals, contained in exposure draft 18, were killed by ballot a week ago at a special meeting of English chartered accountants. What will replace them remains very much325 words
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Article, Illustration1088 1977-07-16 10 ANTON GRAHAM - LABOUR CONDITIONS IN THE COLONY By ANTON GRAHAM FT HONGKONG: After a number of years of Intense, and by local standards drastic, legislation, the Hongkong Government now feels the basic framework of its labour regulations is complete. According to the Assistant Commissioner for Labour,FT - 1,088 words
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619 1977-07-16 10 KUALA LUMPUR: Unionists from 10 Asian countries have agreed actively to encourage union Involvement In economic ventures in their respective countries. Their efforts might well revolutionise the labour movement in Asia and much of the credit goes to the Malaysian Trades Union619 words
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Advertisement34 1977-07-16 10 Peter Benchley 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' -DAJLY TELEGRAPH V Xm 'For the second time -the book you can't put down' -DULY MAIL Now on Sale at your regular bookshop34 words
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Article196 1977-07-16 11 EMPLOVEEB In the Government, statutory bodies and armed forces will receive a flat wage Increase of two per cent for 1977. This Is the Government's decision after It accepted the recommendations of the National Wages Council. A Finance Ministry circular to all permanent secretaries196 words
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Article122 1977-07-16 11 KUALA LUMPUR, Fri. The Multi-Purpose Holdings Bhd will allot 1,000 shares to individuals who have applied for less than 5.000 shares. Its executive director, Mr. Tan Koon Swan, said those who have applied for more than 5,000 shares would be allotted 2,000 shares each. However, he122 words
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Article, Illustration232 1977-07-16 11 THE demand for salea personnel, mostly at executive level, tope the liat on the employment acene, according to a service agency in Singapore. There ia great potential in aalea in tne employment market, aaid Miaa Wong Ka-Poh (above) manager and a director of Multiakil232 words
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Article94 1977-07-16 11 AFP TOKYO, Fri. Jaoan's investments in public construction projects, such as roads and parks, have lagged far behind rapidly expanded consumer spending. The annual White Paper released by the construction ministry, stressed the need to develop urban areas where 60 per cent of the population alreadyAFP - 94 words
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Article, Illustration825 1977-07-16 11 BRIAN WILLIAMS - By BRIAN WILLIAMS Reuter ASEAN'S Invitation to Prime Minister Malcolm Fraser to attend a meeting with their leaders In Kuala Lumpur next month has caused some serious questioning here about how deeply Australia should become Involved In the regional grouping. Australian officials were atReuter - 825 words
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Article, Illustration319 1977-07-16 11 Fukuda pledges cooperation with Asean UPI AFP TOKYO, Frt. Prime Minister Takeo Fukuda today pledged Japan's cooperation to member states of Asean In their efforts to attain self-reliance. His remark was made In a meeting with an Asean economic delegation, led by Indonesian Trade Minister Mr. Radius Prawlro, which arrivedUPI; AFP - 319 words
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159 1977-07-16 11 AFP TOKYO, Fri. Colombia has asked Japan to Invest In a ferro- nickel smelter project and to buy part of the smelter output, It was revealed here today. Mr. Takao Sunayama, deputy general manager of Nippon Steel Corp. (NSC), who Inspected the nickelAFP - 159 words
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Article89 1977-07-16 11 ASEAN nations have been advised not to retaliate against the protectionist policies or Western countries. Such a move would be detrimental to the Interests of Asean nations because the relationship between Industrialised and Asean countries was "an unequal one," according to Dr. Lau Telk Soon, MP89 words
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Article55 1977-07-16 11 Reuter WIESBADEN, Frl. The German producer price index, base 1970, was unchanged In June at the May level of 144.8 but was 2.7 per cent higher than In June 1978, the Statistics Office said. In May the Index gained 0.1 per cent and was three per cent higherReuter - 55 words
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223 1977-07-16 11 UPI TOKYO, Frl. The Russian ship Uelen, with a cargo of 14,000 tonnes of Australian sugar, was stuck for the third day today In* Yokohama Port as buyers refused to accept the shipment. Toyo Kyodo Kalun, an agent for Uelen, handdelivered the papers forUPI - 223 words
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160 1977-07-16 11 Reuter MANILA, Frl. The Philippines is to help the East Malaysian state of Sabah to set up a pilot sugar growing scheme and assist in developing fisheries. The Sabah State Chief Minister, Datuk Harris Salleh, speaking shortly before returning home from aReuter - 160 words
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Article95 1977-07-16 11 JEBSEN and Jessen Group of Companies will be exhibiting some $750,000 worth of products at Its coming Expo '77 at the Victoria Memorial Hall. The exposition, the first by the group, will feature consumer as well as Industrial products from the United States, Europe, Japan and Australia. They95 words
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Article82 1977-07-16 11 Reuter BOGOTA. Frl. At least 125 people are feared to have died after an explosion In a Colombian coal mine yesterday,' a civil defence spokesman said here. The spokesman said 83 bodies had so far been recovered from the Villa Diana mine near the town of Amaga,Reuter - 82 words
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Article116 1977-07-16 11 AFP TOKYO, Frl. Japan's licensed Import contracts in June rose at the lowest annual pace In eight months mirroring sluggish domestic business activity, the Ministry of Internationa! Trade and Industry said today. Licensed Imports, barometer of Import trends a month or two ahead, totalled U555,905 millionAFP - 116 words
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157 1977-07-16 11 AFP KUALA LUMPUR, Fri. Third World countries should set up cooperative pharmaceutical production and technology centres (Copptecs), says an Unctad report. The report, in the latest issue of the newsletter of the International Organisation of Consumer Unions (IOCU) Asia Pacific, says suchAFP - 157 words
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Article88 1977-07-16 11 UPI BEIRUT, Fri. The World Bank will lend Lebanon US$5O million (SSI23 million) to reconstruct the Krt of Beirut and improve banon's shattered telecommunications system* the daily An Nahar said in a report from Washington. It said Lebanon T s ambassador to the United States,UPI - 88 words
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588 1977-07-16 11 KUALA LUMPUR, Fri. The government Intends to amend the Insurance Act and introduce a new "cash before cover" provision to improve the quality and standard of practices in the insurance Industry. Finance Minister Tengku Razaleigh Hamzah who announced this tonight said these588 words
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Article71 1977-07-16 11 THE opening ceremony of the 7th National Management Game will be held today at Shangri-La Hotel. Professor You Poh Seng, adviser to the Singapore Institute of Management, will give the opening address. Seventy teams will be taking part In the NMO, using for the71 words
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Page 11 Advertisements
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Advertisement455 1977-07-16 11 APPOINTMENTS requires TT^TIOrTT (SYSTEM) The successful candidate will be required to assist in the marketing, planning and co-ordi-nation of telecommunication projects. The man we seek would be a dynamic, confident and resourceful individual and be in possession of a degree in Eiectrical or Electronic Engineering with at least 2 3455 words
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523 1977-07-16 12 SINGAPORE, although lacking In resources, will have a role to play in the development of food and agriculture In the Asean countries. Its established marketing and transport sectors can be put to good use and the Republic can also function as523 words
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Article153 1977-07-16 12 Reuter JAKARTA, Fri. Indonesia and Australian officials have discussed issues likely to be raised at the planned meeting between Australian Prime Minister Malcolm Fraser and Asean leaders In Kuala Lumpur next month, the Australian Embassy said today. The Australian delegation, led by senior adviser to theReuter - 153 words
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160 1977-07-16 12 UPI TOKYO. Fri. The Agriculture Forestry Ministry reacted with calmness to reports of the Australian government's decision to establish a 320km fishing zone, according to the Asahl newspaper today. Ashai quoted ministry officials as saying; "Although Japanese fishing industry will be affected by and largeUPI - 160 words
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Article734 1977-07-16 12 LONDON, FYI. The market was mixed In quiet trading, dealers said. At 3 p.m. the FT Index was up 5.3 at 455.2. The government's announced economic measures were much In line with expectations but abandonment of a formal pay policy was an adverse factor, dealers said. The retail734 words
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524 1977-07-16 12 LOCAL PACKAGING manufacturers have done a great deal towards reducing the cost of packaging in Singapore, but work on design, on the other hand, has been lacking. Hiis was stated by Dr. Whang Sun Tie, chairman of the Packaging Council, Singapore Manufacturers' Association524 words
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886 1977-07-16 12 ASIAN COUNTRIES are expected to record the highest rates of growth this year among the non-oil developing countries. They will also have the lowest Inflation rate In any developing area. This observation was made by Mr. William Dale, deputy managing director886 words
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Article, Illustration601 1977-07-16 12 Reuter UPI WASHINGTON, Fri. President Carter and West German Chancellor Helmut Schmidt today voiced basic agreement on major issues and blamed the press for playing up what they called minor differences. They said small differences between their governments In recent months have become exaggerated inReuter; UPI - 601 words
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146 1977-07-16 12 Reuter CANBERRA, Fri. Prime Minister Malcolm Fraser's attempt to solve industrial disputes which were costing Australia millions of dollars in lost mineral exports failed here today when talks broke down with the premiers of the three states involved in the union troubles. Mr. Fraser hadReuter - 146 words
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Article34 1977-07-16 12 Reuter OTTAWA, Fri. The Conference Board In Canada said the Canadian economy seems poised for sustained expansion and real gross national product should grow by stt per cent in 1978. ReuterReuter - 34 words
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Article334 1977-07-16 12 TOTAL cargo tonnage discharged and loaded here for the first five months of the year is 12 per cent higher than for the similar 1070 Cerlod. Growth was dlsrlbuted evenly between discharges and loadings. Figures Just released by the Statistics Department show that for334 words
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Article119 1977-07-16 12 FRANCE'S decision last month unilaterally abrogate Its obligations under the Multi-Fibre Agreement (MFA) has resulted In over a million pieces of garments being stranded here, according to Mr. Lam Thlan, president of the Singapore Garment Manufacturers' Association. He said that these included T-shirts, blouses, and shirts119 words
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Article74 1977-07-16 12 AFP KUALA LUMPUR. Frl. Exxon Production Malaysia Inc. has begun installation of its second production and drilling platform in the Tapis fleld, about 220 km east of Kuala Trengganu In the east coast state of Trengganu. A Joint statement by Petronas and Exxon today said that the MsAFP - 74 words
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Article94 1977-07-16 12 OVER 40 per cent of Singapore's total land area Is now built-up compared with only 31 per cent 10 years ago, according to the Chief Surveyor's office. In the 10 years, Singapore's land area has grown from 581 sq.km to 602 sq.km a growth of 3.694 words
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Article99 1977-07-16 12 AFP JAKARTA, Frl. Thousands of Indonesian workers employed by the US building company Kellogg for the construction of a fertiliser plant at Karawang, east of here, have been on strike for the past four days In support of a demand for wage hikes, the newspaper Merdeka reportedAFP - 99 words
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637 1977-07-16 12 MERCHANT bankers In Singapore generally agreed that the country will continue to lead the Asian dollar bond market, although Singapore has over the past year, tended to trail behind Hongkong In the syndication of offshore loans In the region. In the latest Issue637 words
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311 1977-07-16 12 SINGAPORE LEGAL firms should probe deeper Into the law of International business transactions. This Is the suggestion of Prof. S. Jayakumar, dean of the Faculty of Law at the University of Singapore, at a forum on the "Prospect for Professionals" organised by the magazine,311 words
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Page 12 Advertisements
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Advertisement0 1977-07-16 12 $/.[.[|+*+`'>`{`]`?}{?/{&&*$?<@0 words
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Advertisement53 1977-07-16 12 NOW ON SALE at your regular bookshop. The phenomenal bestseller which has taken America by storm the story of a black American's search for his roots in Africa. ROOTS has sold over 1 1 million hardback copies since its publication and it is continuing to top the bestseller lists even53 words