The Business Times, 5 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
Page thumbnail Page 1
  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, AUGUST 5, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Signing ceremony
      67 1 THE JOINT venture agreement between the Singapore Government and a Japanese holding company, set up In Japan early last month for the construction of the $2 billion petrochemical project on Pulau Ayer Merbau Is likely to be signed by the end of next week. The signing ceremony, which
      67 words
    • Article
      Lock icon Fukuda's speech
      81 1 AP TOKYO, Thurs. Prime Minister Takeo Fukuda will outline Japan's basic South-east Asian policy in a major speech in Manila on Aug. 18, iast leg of a two-week tour to the region, a Foreign Ministry official confirmed today. "Mr. Fukuda will state Japan's basic attitudes regarding its position
      AP  -  81 words
    • Article
      Lock icon Floods wreak havoc
      85 1 Reuter NEW DELHI, Thurs. Floods in northern India have claimed 103 lives and affected over five million people in recent weeks, Agriculture and Irrigation Minister Surjlt Singh Barnala said here today. Mr. Barnala said In the Lok Sabha (Lower House) that preliminary reports showed crops over an
      Reuter  -  85 words
    • Article
      Lock icon Interest-free
      62 1 Reuter VIENNA, Thurs. Oil exporting countries today formally decided to spend U*****.7 million (*****.8 million) in long-term Interest-free loans for projects In developing countries burdened by rising petroleum prices. The allocations, from Opec's aid fund for Third World countries with balance of payments problems, will go towards Improving irrigation,
      Reuter  -  62 words
    • Article
      Lock icon Development banking
      72 1 AFP MANILA, Thurs. The Asian Development Bank today approved technical assistance for a regional training programme on development banking for the South Pacific region to be held in Papua New Guinea and FIJI from next Sept 12 to Oct 29. This is the fifth regional programme on development
      AFP  -  72 words
    • Article
      Lock icon Dow Jones
      105 1 UPI NEW YORK, Thurs: Stocks "Were mixed early today as nervous investors waited for the Federal Reserve Board's weekly report on the nation's money supply. Trading was moderate. The Fed was forced to tighten credit following last week's report of a US$5 billion (5512.2 billion) surge in the
      UPI  -  105 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      176 1 STEADY conditions prevailed in quiet trading on the Stock Exchange of Singapore yesterday. Shares moved narrowly across the hoard for the better part of the day and most of the gains were only made towards the day's close. The Business Times index rose 3.69 points to 397.74
      176 words
    • Article
      In Kuala Lumpur
      108 1 Rises Most octive D. Kramat 7.30 +.18 Olympla kl. Contain 1.39 .12 JC-MPH A. Amal. 4.46 .12 II. Credit Kamuntlng 1.60 +.10 r SiiMrc. 1W AAA Rahman Hyd. 3 30 +.10 Lien Hoe 2.31 +.07 M. Credit 1.20 +.00 NJB.T. 3.04 +.06 Keck Seng i.n K.O. Hold
      108 words
  • Article
    MAS gives banks the go-ahead
    739 1  -  FREE GIFTS AND LUCKY DRAWS •y JOHN TAN THE Monetary Authority of Singapore has agreed to allow Singapore banks to offer gifts and conduct lucky draws to attract deposits. This Is the first time that banks have been allowed to do so and could well
    739 words
  • Article
    Tin chalks up record highs
    185 1 TIN prices for both standard and high grade shot up in London yesterday as the metal continued In short supply and speculative pressures came to a head. Tin showed gains of £30 *(Ssl27) for cash and £15 for three months standard. High grade was £25
    185 words
  • Article
    Manufacturers forecast strong activity in the second half
    627 1 SINGAPORE MANUFACTURERS reported a major Improvement in business in the second quarter of the year and are predicting that the second half year will continue to be good. Sixty per cent of firms report they are operating at normal capacity and investment
    627 words
  • Article
    Formula to revamp Asean machinery
    656 1 ASEAN foreign and economic ministers last night resolved one of the thornier issues facing the organisation that of restructuring the Asean machinery after they had been directed to nave another look at it by their heads of government In meetings which lasted more than three
    656 words
  • Article
    Car hire purchase loans up 12pc in second quarter
    310 1 HIRE PURCHASE financing for motor vehicle! is picking up momentum after almost four years of inactivity. Figures just released by the Departmsnt of Statistics show that hire purchase for motor vehicles registered a 12 per cent jump during the second quarter
    310 words
  • Article
    Trade: This year promises to be better
    628 1 SINGAPORE'S overall trade grew 14 per cent last year in real terms against a decline of six per cent the previous year. Domestic exports grew 24 per cent In value to 19.36 billion and major buyers of such exports were the United States,
    628 words
  • Page 1 Advertisements
    • Advertisement
      Page 1 Advertisements Column 1
      37 1 Gel advanced cooying technology. OvtriMi Newt/TV 4 f> im mm fHorlf P7 Radio P2 r——rHtiw Owrwu Nowa/Foaturo- PI Truiptrt Cmw« Laetl Co Nfwi P4 I.Urn.tion.i Co F M tar~ News— PS Local Stocks —Pf Overtea* Nova Pi:
      37 words
    • Advertisement
      Page 1 Advertisements Column 2
      101 1 tor quality <$ifts and souvenirs j v >-w. Selangor Pewter has long been admired by connoisseurs the world over for its elegance and beauty. Individually handcrafted from 97% lead free Straits refined tin,the beauty of Quality pewter never dates. Functional as it is decorative, Selangor Pewter is the ideal gift.
      101 words
    • Advertisement
      Page 1 Advertisements Column 3
      5 1 SEE PAGES 11 aad 13
      5 words
    • Advertisement
      Page 1 Advertisements Column 4
      235 1 Singapore: *****55, *****5 (Airport) Kuala Lumpur: *****6* Penang: ***** The Opel Retard BeHina for 77 looks as beautiful asH'drives. w A V f f V T--4!&^' -fit J When you have a cor that's already famous for its quality, dependability, all round durability and with one of the most advanced
      235 words
Page thumbnail Page 2
  • OVERSEAS
    • Article
      Lock icon No prospect of early end to steel strike
      567 2 UPI NYT WASHINGTON, Thurs. Strikes by nearly 20,000 United Steelworkers Union members in the iron ore fields show no prospect of a prompt settlement, according to union president Lloyd Mcßride. "At the moment there doesn't seem to be any great pressure on
      UPI; NYT  -  567 words
    • Article
      Lock icon New agency's role in food politics
      431 2 Reuter ROME, Thurs. The world's newest agency to help poor countries feed their people will start spending USSI billion (552.44 billion) here early next year. The International Fund for Agricultural Development (IFAD) will play a new role in the world of "food politics" dominated
      Reuter  -  431 words
    • Article
      Lock icon German migrants get top jobs in Australia
      196 2 AFP MELBOURNE, Thurs. West Germans are the best qualified and hold the highest paid Jobs of all migrant groups In Australia. Bureau of Statistics figures show that more than 90 per cent of Australia's 37,900 German migrants are fully employed. More than half
      AFP  -  196 words
    • Article
      Lock icon Six-nation summit
      136 2 AFP BOGOTA, Thurs. The leaders of six countries meet here tomorrow to start two days of summit talks on the Panama Canal and the defence of coffee prices. Colombian army units t<sk up positions outside tin National University and at other strategic points yesterday as part of strict
      AFP  -  136 words
    • Article
      Lock icon SUMMER HOLIDAYS GIVE ITALY A RESPITE
      767 2 OFNS ROME, Thurs. It may be the advent of the long hot summer recess, but everything seems to be falling nicely Into place In Italy. After more than a year of crisis measures to protect the faltering lira, the currency has managed to hold
      OFNS  -  767 words
    • Article
      Lock icon Japanese pledge orderly exports of steel
      371 2 AFP Reuter LONDON, Thurs. The Japanese steel Industry, In a name of fair competl1, will "endeavour continually to abide, as In the East by orderly exports" Ir. Yoshlhiro Inayama, chairman of the Japan Iron and Steel Federation, pledged in an interview. He told the
      AFP; Reuter  -  371 words
    • Article
      Lock icon MADRID GOVT BOWS TO TRUCKERS
      130 2 Reuter MADRID, Thurs. The Spanish Government last night bowed to a truckers' strike, which reduced the capital's fresh food supplies to a trickle. An official statement said lorry owners would be allowed to hike their prices by 19 per cent and a levy they have
      Reuter  -  130 words
    • Article
      Lock icon Ex-officer tells of big rip-off in S. Korea
      364 2 NYT NEW YORK. Thurs. An organised ring of South Koreans, with American help, systematically exploited a United Btates army computer to steal up to US$l7 million (5541.5 million) a year in American food, uniforms, vehicle parts, petrol and other goods from army
      NYT  -  364 words
    • Article
      Lock icon BRIBE PROBE 'DEEPENS'
      168 2 Reuter WASHINGTON. Thurs. The chairman of the House of Representatives' Ethics Committee yesterday reported what he called extremely significant developments In connection with the panel's probe of South Korean Influence-buying In Congress. But Congressman John Flynt said he could not give details because of an agreement with
      Reuter  -  168 words
    • Article
      Lock icon Have no fear of producers' group
      174 2 Reuter GEORGETOWN (Guyana), Thurs. A proposed Council of Producers Associations will not be an Instrument of aggression against the Industrialised world, a senior official of the Opec said here yesterday. Dr. Nazar Al Khalah, who head's Opec's legal department, told a three-day meeting here
      Reuter  -  174 words
    • Article
      Lock icon N-sale talks resume
      181 2 Reuter TEHERAN, Thurs. Talks will resume In Washington on Monday on the possible sale to Iran of up to eight nuclear power stations worth about US$lO billion (5524.4 billion), officials said today. The three-day talks will also cover cooperation in oil, 'gas and solar energy. The Iranian
      Reuter  -  181 words
    • Article
      Lock icon UK to accept rate fall
      388 2 Reuter LONDON, Thurs. British monetary authorities will accept a further limited fall over the next few weeks In British Interest levels, but would probably resist a reduction on the scale of that which occurred In the first few months of this year, informed monetary analysts
      Reuter  -  388 words
    • Article
      Lock icon Rain is the bane of Soviet farmers
      288 2 Reuter MOSCOW, Thurs. Rain Is posing serious problems for many Soviet farmers as the country approaches the half-way mark In this year's grain harvest, the government newspaper Izvestla reported yesterday. Harvesting conditions were "very complicated" in the Ukraine, which usually accounts for over
      Reuter  -  288 words
    • Article
      Lock icon Luxury of staying below the Red Sea
      139 2 Reuter PARIS, Thurs. An undersea hotel could be offering luxury holidays below v the waves of the Red Sea In 1980, a French business consortium announced here yesterday. The project's designer, Mr. Andre Oass, said the group was considering siting the hotel at
      Reuter  -  139 words
    • Article
      Lock icon Two pacts approved
      39 2 AFP NEW YORK, Thurs. France has officially approved the 1975 international cocoa agreement and the 1976 agreement on coffee, It was learned here yesterday. The necessary documents have been deposited at the UN's legal department. AFP.
      AFP  -  39 words
    • Article
      Lock icon House forbids funds going to Vietnam
      284 2 UPI WASHINGTON, Thurs. The House of Representatives approved legislation yesterday authorising US$l.7 billion (554.15 billion) to operate the State Department, US Information Agency and Radio Free Europe and Radio Liberty, but prohibited any funds being used to aid Vietnam. The legislation was passed by
      UPI  -  284 words
    • Article
      Lock icon Moderate pace of business activity till year-end
      361 3 Reuter NEW YORK, Thurs. Prospects are good for continued increases In business activity during the remainder of 1977, but "probably at a more moderate pace than that of the first half," according to a report In the current issue of the Federal Reserve
      Reuter  -  361 words
    • Article
      Lock icon Rise in commerce, industry loans
      206 3 Reuter WASHINGTON, Thurs. US commercial and industrial loans outstanding amounted to US$llB.B4 billion (SJ29O billion) in the week ended July 27, up $402 million from the previous week and $7.1 billion from a year earlier, the Federal Reserve Board said. Loan sales totalled $2.84 billion
      Reuter  -  206 words
    • Article
      Lock icon Result should support price at its current level
      488 3 IMF GOLD AUCTION Reuter HONGKONG. Thurs. The result of yesterday's International Monetary Fund gold auction should support the gold price around current levels and possibly lead to a slightly higher trading range in the short term, international bullion dealers said. They noted
      Reuter  -  488 words
    • Article
      Lock icon Uncertainties trigger pressure on Canadian $
      333 3 Uncertainties trigger pressure on Canadian Reuter LONDON, Thurs. Current market pessimism over Canadian economic performance and political uncertainty over Quebec separatism have triggered pressure on the Canadian dollar, foreign exchange dealers and economists here »sald. The Canadian unit moved to U593.20/22 cents in London yesterday after opening here around 93.06/09
      Reuter  -  333 words
    • Article
      Lock icon Growth slowdown
      92 3 Reuter TORONTO, Thurs. Toronto Dominion Bank predicted Canada's real economic growth this year will slow to about 3.5 per cent from 4.9 per cent last yar, but could exceed five per cent next year. The Bank, in Its "Canada's Business Climate" publication said growth resumed In the first
      Reuter  -  92 words
    • Article
      Lock icon Turkey readjusts its currency
      132 3 AP Reuter ANKARA, Thurs. Turkey yesterday readjusted its lira against some foreign currencies, devaluing by 4.5 per cent against the Deutschemark. the central bank announced. The parity of the Turkish lira to the US dollar remained the same, with one dollar worth 17.50 Turkish lira. The
      AP; Reuter  -  132 words
    • Article
      Lock icon BILL SEEKS $265b FOR U.S. DEFENCE
      262 3 UPI WASHINGTON, Thurs. Senate and House of Representatives conferees will present Congress with an approximately US$lO9 billion (***** billion) defence appropriations bill which cuts $200 million from intelligence, and provides $310 million for an additional destroyer, congressional sources said yesterday. The conferees failed to
      UPI  -  262 words
    • Article
      Lock icon Common price of $356 per ounce
      174 3 Reuter WASHINGTON, Than. The International Monetary Fund said it auctioned 524,800 ounces of gold at a common price of U*****.26 (*****.87) per ounce. The IMF said successful bidders were in a range from the common price of $146.26 per ounce up to $150.60 per
      Reuter  -  174 words
    • Article
      Lock icon Opec is finalising contributions to Witteveen fund
      424 3 Reuter VIENNA, Thurs. Opec finance ministers will finalise their contributions to a new multl-bllllon dollar International Monetary Fund facility to aid countries with severe balance of payments troubles at* a two-day meeting starting here today. Diplomatic sources said the 13 ministers of the
      Reuter  -  424 words
    • Article
      Three billion more barrels of oil
      153 3 MEXICO CITY, Thurs. The official estimate of Mexico's proven oil reserves is likely to be Increased shortly from the present figure of 14 billion barrels to 16.8 billion, Mr. Jorge Diaz Serrano, director general of the state oil company Pemex, said. Mr. Diaz Serrano
      153 words
    • Article
      Lock icon Pears of poor countries defaulting are exaggerated
      324 3 AFP NEW YORK, Thurs. Fears that a number of developing countries will prove unable to repay commercial bank loans are exaggerated, the Federal Reserve Bank of New York said In a study published yesterday. The bank noted that such private loans to developing
      AFP  -  324 words
    • Article
      Lock icon 7 pc yield
      29 3 Reuter WASHINGTON, Thurs. The Treasury said Its auction of U552.25 billion (555.5 billion) of seven-year notes brought an average effective yield of 7.26 per cent. Reuter.
      Reuter  -  29 words
  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      90 2 Presenting^ Gary English Toffee from Las Vegas Soufful vitality. Unique vocal stylings. See them released from a six-foot five package of charm and talent And two sexy, swinging chickt Gary English Toffee are topt Also performing at the Neptune ■rf Now at the Francis, the Memo from The Philippines and
      90 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      271 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 4 at Singapore airport. Maximum Temperature 31° C Associated Humidity 63 Minimum Temperature 20.8° C Associated Humidity 100 Hours of Sunshine 5.30 Rainfall in Millimetres Nil Total Rainfall for the Month 30.02 Total Rainy Days for the
      271 words
Page thumbnail Page 3
  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      274 3 Which bank cut the world down to size, just for you? We did. Bank of America. Through our new World Banking Division, we've divided up the world ot business into tour, easy-to-manage parts: North America; Latin America; Europe, Middle East and Africa; and the Far East. With offices in key
      274 words
Page thumbnail Page 4
  • COMPANY NEWS
    • Article
      B. Sembawang gets $6.89m compensation
      338 4 BUKIT SEMBAWANG Estates has received $6.89 million from the Housing and Development Board as additional compensation plus statutory interest for the compulsory acquisition of its land. The company says the sum was received on July 30 as a result of out-of-court negotiations for land acquisitions
      338 words
    • COMPANY MEETINGS
    • Article
      JC-MPH
      32 4 JACK CHIA-MHP has proposed a first and final dividend of 10 per cent for the year ended March 31, 1977 and not 12 per cent as reported in Business Times yesterday.
      32 words
    • Article
      Malayan Credit queried by SES
      173 4 THE Stock Exchange of Singapore has Instructed Malayan Credit to tell the SES when It had reached agreement with the revenue authorities In Singapore to pay $14.38 million In back taxes. The SES demand came immediately after Credit informed Its shareholders that it had reached
      173 words
    • Article
      B.Kawat
      71 4 BERJAYA KAWAT has proposed a final dividend of five per cent tax exempt for the 16 months ended April 30, 1977 and not a first and final dividend of five per cent tax free as reported In Business Times on July 29. The final dividend raises its total payment
      71 words
    • Article
      DIVIDENDS ANNOUNCED
      219 4 Current Ex Date Total for Total for payment Date payable the year previous year Lower Perak 15% July 1 Aug 5 30% 30% Oriental Holdings 9% July 26 Aug 10 15% 15% B. Sembawang 20% July 28 Aug 15 20% 20% Riverview Rubber 6%I July 27 Aug 15
      219 words
    • Article
      Roxy still troubled by higher production costs
      591 4 THE current year ending Bept. 30, 1977 may turn out to be a year of nil growth for Roxy Electric Industries (Malaysia). For "barring unforeseen circumstances and taking Into account the seasonal fluctuatlonal sales volume of the industry, it is expected that the
      591 words
    • Article
      Lock icon New York blackout: Cons Edison was not prepared
      570 4 NYT WASHINGTON, Thurs. The Federal Power Commission says that Consolidated Edison was not only 111prepared for the emergency that led to the New York blackout on July 13-14, but also failed to act promptly when there was still time to avoid a
      NYT  -  570 words
    • Article
      Lock icon RECORD FIRST HALF PROFIT AT TDK
      493 4 FT TOKYO, Thurs. Japan's top manufacturer of ferrlte Sroducts and magnetic ipes, TDK Electronics has reported record high sales and profit for the first half ot its 1977 fiscal year ending May 31. Consolidated net profits were Y4.1l billion, an Increase of 37.3 per
      FT  -  493 words
    • Article
      Lock icon Earnings up at Siemens AG
      122 4 Reuter MUNICH, Thurs. Siemens AO said net profit In the nine months ended June 30, 1977 rose to 375 million marks from 340 million marks a year ago, but yield on sales fell to 2.2 per cent (2.3 per cent). In an interim report, Siemens
      Reuter  -  122 words
    • Article
      CHICAGO BOARD OPTIONS
      1545 4 On August 3 TRADING in options on the Chicago Board Options Exchange came to 84,387 contracts on Wednesday compared with 66 834 contracts on Tuesday. OPTION OCT JAN APL STOCK A ICO* Alcoa Am Exp Am Exp ArnTd Am Tel Am Tel AUR AUR Avon Avon Bank
      1,545 words
    • Article
      Second half slowdown at North Borneo
      371 4 NORTH BORNEO Timbers has reported higher earnings, raised Its total dividend for the year and is once again making a scrip Issue. That Is the good news. Now for the bad news. Which is that the strong Impetus felt In the first half Hir
      371 words
    • Article
      Lock icon Mitsubishi suspected of tax evasion
      226 4 UPI TOKYO, Thura. Tax officials are investigating the giant Mitsubishi trading company for suspected evasion of taxes amounting to six billion yen (Sss2 million) on stock transactions ordered through its New York office, the Yomiuri newspaper said today. A spokesman for the Tokyo Tax Office
      UPI  -  226 words
    • Article
      Lock icon CFP signs oil condensates contract
      88 4 Reuter PARIS, Thurs. Cle Francalse Des Petroles (CFP) has signed a contract for the purchase of 14 million tonnes of oil condensates with the Algerian state oil company Sonatrach, a CFP spokesman said. The condensates will be delivered over 10 years beginning 1978, when one
      Reuter  -  88 words
    • Article
      OUB issue well received
      120 4 OVERSEAS UNION Bank's recent rights issue of one-for-five at $2 was almost fully subscribed by its shareholders. The bank says in a statement that 98.82 per cent of the rights issue of 11 million $1 shares has been taken up. The balance of 1.18 per cent
      120 words
    • Article
      Lock icon Canon plans to pay special dividend
      289 4 Reuter TOKYO, Thurs. Canon said its profit before tax and special items for the first half-year of 1977 is expected to total 5.2 billion yen, up from an earlier forecast of 4.5 billion yen. Sales are expected to total 59.3 billion yen compared with
      Reuter  -  289 words
    • Article
      Lock icon MOL issue
      86 4 Reuter TOKYO. Thurs. MOL International S.A. of Luxembourg, a wholly-owned subsidiary of Japan's Mitsui OSK Lines, will float a $20 million, seven-year, 7.75 per cent convertible bond at 99.25 per cent on the European capital market, Mitsui OSK said. It said the bond Issue contract was signed in
      Reuter  -  86 words
    • Article
      Lock icon Broken Hill unit signs coal pact
      173 4 Reuter MELBOURNE, Thurs. Broken Hill Pty (BHP) said its Dampier Mining Co unit signed a contract to supply 27.18 million tonnes of coking coal to Japanese steel mills from the proposed Gregory open-cut mine In Central Queensland. The contract provides for the sale of
      Reuter  -  173 words
    • Article
      Lock icon RHM bond
      54 4 Reuter LONDON, Thurs. RHM Overseas Finance BV's US$4O million 15-year Eurobond carries a nine per cent coupon and Is priced at par, a spokesman for lead manager Morgarl Grenfell and Co Ltd said. RHM Overseas Finance Is the Dutch borrowing arm of Ranks Hovls McDougall Ltd., which is
      Reuter  -  54 words
    • Article
      Lock icon Dubai's Euroloan
      64 4 Reuter PARIS.. Thurs. Banque Arabe et Internationale D'lnvestlssement said it is organising a US$2OO million Euroloan for the ruler of Dubai. The three-year loan carries a spread of 1% percentage points over London Interbank Offered Rates and is being placed seml-prlvately with a selected number of banks. Between
      Reuter  -  64 words
  • Page 4 Advertisements
Page thumbnail Page 5
  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Barclays and Arabs buy Edward Bates
      604 5 EUROPEAN COMPANIES FT LONDON, Thurs. Barclays Bank International and a consortium of Arab and African interests have acquired Edward Bates Sons, the UK authorised bank, for a nominal amount. New capital of £15 million is to be injected Into the bank, whose name will
      FT  -  604 words
    • Article
      Lock icon Occidentale bids for Cavenham
      363 5 Reuter LONDON, Thurs. Generale Occidentale and Cavenham Ltd said they have agreed on arrangements for Generale Occidentale to acquire ordinary shares of Cavenham it does not already own. The arrangements will give existing minority ordinary shareholders 10 per cent (net) of first cumulative preference shares in
      Reuter  -  363 words
    • Article
      Lock icon Iran Air to raise US$72m
      93 5 Reuter LONDON, Thurs. Iran Air is raising a US$72 million loan with a one percentage point spread above London Interbank Offered Rates for seven years, a spokesman for lead manager Iran Overseas Investment Bank said. The loan is being raised against the mortgage of aircraft,
      Reuter  -  93 words
    • Article
      Wilkinson reports 30pc jump in earnings
      344 5 LONDON, Thurs. Wilkinson Match made a pre-tax profit of £12.35 million for the year ended March 31, 1977, a rise of 30 per cent over the previous year's profit of £9.51 million. Earnings per share rose by 23.6 per cent to 20.18p from 16.33p
      344 words
    • Article
      Lock icon BP asks for rise in tarriff
      120 5 Reuter LONDON, Thurs. British Petroleum Ltd (BP) and other members of the trans-Alaska pipeline system have petitioned the Interstate Commerce Commission for an increase in the interim tariff rates on the pipeline, BP said. In the case of BP, the new tariff would be
      Reuter  -  120 words
    • Article
      Lock icon Kredietbank
      27 5 Reuter BRUSSELS, Thurs. Kredletbank Sa said It has placed a US$2O million sixyear variable Interest rate private placement for the Cle Oenerale Maritime Et Flnanclere.— Reuter.
      Reuter  -  27 words
    • Article
      Lock icon Friderichs limits Thyssen stake in Bonn firm
      175 5 Reuter BONN, Thurs. German Economics Minister Hans Friderichs has decided Thyssen Industrie may take a stake of only up to 45 per cent in machine tool firm Hueller Hille GMBH, the Economics Ministry said. This follows a recommendation In May by the German
      Reuter  -  175 words
    • Article
      Lock icon BMW says income position satisfactory
      95 5 Reuter MUNICH, Thurs. Bayerlsche Motorenwerke Ag said its earnings position continued satisfactory In the first half this year with parent company turnover up 18.5 per cent to 2.51 billion marks and worldwide group turnover up 20 per cent to 2.81 billion. Unit car production rose
      Reuter  -  95 words
    • Article
      Lock icon Electrobras borrows
      183 5 Reuter LONDON, Thurs. Centrals Electrlcas Brasllelras Is raising a US$25O million Euroloan In three tranches from a syndicate led by Bank oi America, Informed Eurocurrency sources said. The loan, Electrobras' first syndicated Eurocredlt, has a margin of 1% per cent over London Interbank Offered Rates for five years,
      Reuter  -  183 words
    • Article
      Lock icon Chemical industry outlook perplexing
      818 5 NORTH AMERICAN COMPANIES FT NEW YORK, Thurs. The outlook for the American chemical Industry has been one of this year's more perplexing analytical problems on Wall Street. With one exception (Du Pont), the latest quarterly results from the major companies show that the Industry's earnings trend
      FT  -  818 words
    • Article
      Lock icon Cons Gold Fields
      68 5 Reuter LONDON, Thurs. Consolidated Oold Fields Ltd said Its subsidiary Amey Roadstone Corp agreed to buy over 99 per cent of Hydro Conduit Corp for US$45 million from Mobil Corp subsidiary Marcor. Hydro Conduit makes concrete pipes and asphalt and has Interests in sand, gravel and road
      Reuter  -  68 words
    • Article
      Lock icon Wrigley magnate left US$81m estate
      97 5 Reuter CHEWING gum magnate Philip Wrlgley left an estate of more than US$6l million when he died In April, according to court documents filed yesterday. The 82-year-old Mr. Wrlgley was one of America's best known sportsmen and owned the Chicago club's major league baseball team.
      Reuter  -  97 words
    • Article
      Lock icon Consolidated Edison
      56 5 Reuter CONSOLIDATED EDISON CO of New York said It Is taking steps to reduce the possibility of another system wide blackout. The company said It is far enough along the second phase of its three-phase study on the causes of the July 13 and 14 blackout to determine
      Reuter  -  56 words
    • Article
      Lock icon Cominco
      36 5 Reuter COMINCO LTD, which aaid it now has 38 per cent of the share* of Bethlehem Copper Corn, said it extended Its CslB per share purchase offer for Bethlehem to 1630 hrs August 8. Reuter.
      Reuter  -  36 words
    • Article
      Lock icon 'Toyota decision nothing to do with visits'
      586 5 ASIAN COMPANIES NYT TOKYO, Thurs. The decision by the Toyota Motor Co. to lease a 12hectare site at Port Newark, had nothing whatsoever to do with the recent visits here by executives of the Port Authority of New York and New Jersey, officials
      NYT  -  586 words
    • Article
      Lock icon Nippon optimistic
      139 5 Reuter TOKYO, Thurs. Nippon Electric Co Ltd said it expects net consolidated Income for the current fiscal year ending March 1978 to rise 24 per cent to 9.6 billion yen over last year, on estimated sales of 750 billion yen, up 20 per cent. The company reported an
      Reuter  -  139 words
    • Article
      Marinduque Mining
      47 5 MARINDUQUE Mining and Industrial Corporation of the Philippines has fallen deeper into the red in the first half-year with a net loss of US$2.3 million against a deficit of Just 5303,319 last time. The 1976 figures included nickel operation results only In the second quarter.
      47 words
    • Article
      Aussie bank poised for recovery
      99 5 COMMERCIAL Banking Co. of Sydney has taken steps during the year which it expects should place It in a position from which to make a strong recovery. The company pledged this after announcing a drastic decline in consolidated operating profit for the year ended June
      99 words
    • Article
      Lock icon GMK makes rights issue
      333 5 Reuter MELBOURNE, Thurs. Gold Mines of Kalgoorlle (Australia) Ltd (OMK) will make a one-for-three rights issue at par to snareholders registered on Aug 28. Once again, no dividend will be paid. The issue follows the company's reconstruction involving a writedown of its 8.13 million Asl par
      Reuter  -  333 words
    • Article
      Lock icon HK Realty sell Wardell Securities
      92 5 Reuter HONGKONG, Thurs. Hongkong Realty and Trust Co Ltd and Realty Development Corp Ltd said Hongkong Realty agreed to sell its wholly-owned subsidiary Wardell Securities Ltd to Realty Development for HK526.91 million in cash. Wardell Securities' sole assets are 11.34 million shares In Hongkong Electric
      Reuter  -  92 words
    • Article
      Lock icon Sanyo to increase colour TV price
      156 5 Reuter OSAKA, Thurs. Sanyo Electric plans to raise export prices of Its colour TV sets to the US by 3.6 per cent from next month following the yen's rise against the dollar, Its managing director Hltoshl lue said. He told a press conference this
      Reuter  -  156 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      258 5 .mericaya T« IKVO SIN(,AII;KJ Remarkable handcrafted shoes A legacy from Signor Marelli Exclusive to Americaya K'jn t- j Very many years ago, in Italy, there existed an exceptionally skillful bespoke bootmaker one Signor Marelli. Signor Marelli's skill in fashioning and working leather earned him a widespread reputation and guaranteed him
      258 words
Page thumbnail Page 6
  • Article
    Share Information Service
    2306 6 im Hi(k Low Company Last Safe Gr's div Dtv c'tt Gr'i y'ld N«t P/E V«l (••90) Day Higk Low SECTION ONE INDUSTRIAL 154 204 96 230 101 196* 169 223 396 171 136 172 58 212 57 155 ISC 182 350 145 Acma Alcom Allied Choc Bata
    2,306 words
  • Article
    Transactions in Singapore
    1379 6 BID mad offer prices officially listed and hmlnm in and r sported to the Mock Exchange of IMnppwi ymUrday with the number of shares traded ihovn in bracket* in lots of 1000 unlU unless otherwise specified AS TUne Settlement Contracts are quoted after the word "gitt." B*
    1,379 words
  • Article
    In Kuala Lumpur
    1661 6 BID and offer price* officially luted and business in and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets in tots of 1.000 units unless otherwise specified INDUSTRIALS Acma <1 438). AlkiliMll (2 028). Alc*m (1.958). A. CkN (0
    1,661 words
  • Article
    Stock options
    50 6 STRIKING prices of the sum* option* officially listed ea the Stack Exchange ot Singapore, the periods, hid and offer pricee and bminees done yeeterday. with the a am her et options traded showa in brackets D.B.S.(Sept $3.60) (0.255). U.O.B.(Sept $3.20) (0.155). (Dec $3.20) (0.195). Wearnes (Sept $3.00) (0.10B).
    50 words
  • Article
    Unit trusts
    146 6 SINGAPORE UNIT TRUST (MtU|(rt prion for Aug S) The Commerce 1.71 1.81 The Saving Fund O.N 1.04 S pore Prog Fund o 85 0.90 S pore Security Fund 1.45 1.53xd S pore Invest Fund 1.01 1.07 ASIAN UNIT TRUST (Manager*' price* far Aug Mai Invest Fund 1.65 1.78
    146 words
  • Article
    CORPORATE BONDS
    164 6 B O T 8 1/2% 1981 (100.000) (103' sB 103*S) B O T 7 VB% 1964 (100.000) (98*B 99*S) LTCB J 1982 (100.000)(98SB 995) Credit Lyoonaia Floating 1983 (100.000) (98HB 98 7 sS) DBS Converts 6 1/2% 1991 (100.000) (988 98*S) D B S 8 1/2% 1982 (100.000)
    164 words
  • Article
    GOVERNMENT BONDS
    134 6 Rep Spore D Mark 7% 1982 (100.000) (100%8 101HS) Rep Spore 6 1/2% 1983 (100.000) (99H8 100S) Rep Spore 7 3/4% 1987 (100.000) (IOOKB 101S) 5 1/4% 15/7/78 (250,000) (101.408 101.50S) (8) 101.45 4 3/4% 1/5/79 (250.000) (100 858 100 90S) 5 1/4% 15/10/79 (250.000) (101.958 102 05S)
    134 words
  • Page 6 Advertisements
    • Advertisement
      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
Page thumbnail Page 7
  • Article, Illustration
    MARGINAL MOVEMENT
    661 7 Steady conditions prevailed in quiet trading on the Stock Exchange of Singapore yesterday. The market opened steady and softened towards noon in the absence of any definite trading interest. Apart from isolated speculative interest, trading was generally listless and most shares marked time. Consequently, price movements across the
    661 words
  • Article
    KLSE CLOSES STEADY
    347 7 BULLISH support late in the afternoon lifted share prices marginally higher on the Kuala Lumpur stock market yesterday. 1 radlng was sluggish but steady with strong underlying support evident In most of the speculative counters. Prices opened slightly steadier but succumbed to selling pressure during the morning
    347 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      358 7 HONOKONQ: The market closed little changed In continued very quiet trading, dealers said on Thursday. The Hang Seng Index was down 0.01 point to close at 414.12. Hoagkeag Land was unchanged. HutchiMa fell 10 cents to $3.05 and Jardiae Hsthwnn 20 cents to $13.70, while Hnagfcaag Baak rose 20
      358 words
    • Article
      Tokyo
      463 7 TOKYO: Share prices closed mixed In active trading, dealers said on Thursday. The Dow Jones Average gained 2.21 to close at 5,061.34 with volume 500 million shares. The New index closed at 376.46, down 0.64. Petroleums, shippings, electric powers and some constructions lost ground on profit taking, and export-orientated
      463 words
    • Article
      Sydney
      466 7 SYDNEY: The market closed mixed, dealers said on Thursday^ The Sydney All-Ordinaries Index rose 1.75 points to close at 439.84. Gold stocks were firm, with Central N-v >emaa rising 10 cents to $4.*. and Gold Mine* of Kalgoorlie seven cents to 47 cents following its final results. Coals were
      466 words
    • Article
      Manila
      172 7 MANILA: The market closed mixed with oils and commercials advancing fractionally while minings eased, dealers said on Thursday. Turnover fell to 3.50 million pesos from Tuesday's 5.07 million. Mlnlng issues were depressed by overseas metal prices, while Podco B rose two points and other oil Issues were unchanged. Picop
      172 words
    • Article
      Bangkok
      97 7 AUG M Bahts Asia Fibre 1M Bangkok Bank 347 -4 Bangkok Invest 290 Bangkok-Metro-politan Bank Bata sss +5 BerliJucker 414 2 Char oong Thai Wire 1M unch Dumex Dusit Than) Faber Merlin First Trust 143 Indo-Thal Industrial Finance Corp 1245 10 J And J Ho 277 +2 Jalaprath&n Cement
      97 words
    • Article
      Amsterdam
      275 7 AMSTERDAM: The market closed generally lower In continued quiet trading on Wednesday with Royal Dutch and Akzo 1.00 and 0.50 guilders lower respectively. Hoogoveaa easier and Philip* and Uailever edging higher in Dutch Internationals. dealers said. Giesaea-de Noord firmed 3.50 guilders after announcing details on the order for the
      275 words
    • Article
      Brussels
      156 7 BRUSSELS: Most Belgian shares fell In more lively trading, bourse sources said on Wednesday. SoAna, L'nerg, UCB and St Roch rose but Reserve, Cobepa, Traction, Aaturienne, FN, Intercom, Hoboken, Cockerill and Soivay all fell. Gold mine shares were unchanged. Petronna fell. Its Canadian unit rose and US Petroftna was
      156 words
    • Article
      Frankfurt
      303 7 FRANKFURT: Shares closed mixed after some proflttaklng in quieter trading, bourse sources said on Wednesday. In higher banks, Deutsche Baak, which announced higher first half operating profits, gained two marks and Drssdaar one mark while stores were also firmer. In weaker engineerings KHD fell 2.50 marks and in autos,
      303 words
    • Article
      Milan
      174 7 MILAN: The market closed mixed to higher In slightly more active trading, dealers said on Wednesday. Among leading industrials Pirelli SPA closed 13 lire higher at 983 on a 25 per cent increase In first-half sales. Anic, Fiat, Snia Viicou and Olivetti ordinary were also higher, but Olivetti privileged
      174 words
    • Article
      Paris
      306 7 PARIS: The market was narrowly mixed In minimal trading, dealers said on Wednesday The only exception was foods, which made small gains. Americans and oils eased, while Germans strengthened and golds were mixed. AUG M Fr» CORBEILLE Alr-Llquide B8N Oervals Danone C 8 F (Thomion CteFrancalae de»Petroles Citroen 8A
      306 words
    • Article
      Zurich
      296 7 ZURICH: The stock market closed barely steady in very quiet dealings on Wednesday. The easier dollar on the foreign exchange market and the renewed weakness on Wall Street were factors to dampen sentiment, dealers said. Leading banks and Insurances edged slightly lower Among narrowly mixed financlals Bally bearer and
      296 words
    • Article
      Jo'burg
      361 7 JOHANNESBURG: Gold shares moved firmer on higher bullion lndlcaUons and strong local and overseas demand, dealers said on Wednesday. Financial minings were steady, with gold oriented Issues tending to harden. De Been rose two cents to 470 on UK Interest. Coppers were steady and platinums slightly easier. Tins were
      361 words
    • Article
      Toronto
      314 7 TORONTO: The market closed broadly lower on Wednesday despite paring some earlier losses late In the session. Metals, gold and paper issues were the only gainers among the 14 sub Indices The composite Index was off 1.8 points and declines led advancing issues 235 to 157. Canadian Tire fell
      314 words
    • Article
      New York
      1160 7 NEW YORK: Stock prices retreated along a broad front in expanded trading after a postmidsession rally attempt failed on Wednesday. Market analysts attributed the day's weakness to concern about higher interest rates in response to a prime rate increase by Morgan Guaranty Trust. The bank's new rate of
      1,160 words
    • Article
      Indices
      64 7 FINANCIAL TIMES INDUSTRIALS Wednesday 458.2 Tuesday 451.® Week Ago 434.5 DOW JONES AVERAGE INDUSTRIALS Wednesday 886 00 Tuesday 887.30 Week Ago 888.43 LONDON DOLLAR PREMIUM Wednesday ....no* to 111* Tuesday Ill* to 111% H.K. HANG SENG Wednesday 414.13 Tuesday 416.02 Week Ago 413.50 SYDNEY INDUSTRIALS Wednesday 367.20 Tuesday 366
      64 words
  • Page 7 Advertisements
    • Advertisement
      Page 7 Advertisements Column 1
      516 7 BUSINESS TIMES Airline Directory Aeroflot Soviet Airlines 110-112 Slmw Centra, Orchard Rood, Singapore 9 (Tot: 377.111) Air Ceylon 302-B, 3rd Floor, Marino Houm Wow (inuMM fit dlWHlwn Si| \I (Tol: 22?9300) A tIAA« in KuiUinn (kan»nn W«w wfviiivw, n®W| iv® WNWiiVi »nwn»wi Sinaapore 1 (Tol: *****11) Air Indit 1 X|L
      516 words
Page thumbnail Page 8
  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      483 8 IN the Singapore rubber market yesterday, prices opened about unchanged then fluctuated narrowly in dull trading. Towards noon, prices turned easier on freer speculative offerings of September and October coupled with stale bull liquidation. Forward trading was small while physicals were neglected. l'ne morning session
      483 words
    • Article
      R.A.S. PRICES
      348 8 Prices in cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buvers Sellers Buvers Sellers Int. 1 R.S.S prompt f.o.b. 189 50 190.50N 189.25 190.25N Int. 1 R.S.S. August 190.75 191.25 190.50 191.00 Int. 1 R.S.S September 192 75 193 25 192.50 193.00 Int. 2 R.S.S. 190
      348 words
    • Article
      SSR AND SMR
      100 8 N JON SSR and SMR prices yesterday R.A.S. (Curreat Mth) September (Forward Mth) Buyer* Sailer* Buyart Seller* (emu per kg) (oenti Per kg) SSR 20 (1 >ton pallet) 190.50 192.50N 191.50 193.50N SSR 50 (1 ton pallet) 188 00 190.00N 189.00 191 00N M.R.E.L.B. SMR 5CV (1-ton
      100 words
    • Article
      Closing prices
      30 8 Rubber: August 4 Singapore: August 190.50 cents (down 1.25 cents.) Malaysia: August 192.00 cents (down 1.00 cent) Tin: $1,655 (up $27) Official offering: 203 tonnes (up 2 tonnes)
      30 words
    • Article
      Produce exchange
      473 8 TRADINO conditions remained generally dull on the Singapore produce market yesterday as dealers awaited a clearer lead from overseas. Fresh acceptances were minimal and confined mainly to neighbouring countries and local consumers accounts. Barely steady conditions prevailed for coffee as the easier tendency In the London terminal market
      473 words
    • Article
      Cocoa
      172 8 LONDON, Thurs. Terminal cocoa was higher at the opening call by £30(wlth near September at £2,782.50) to £13 per tonne, establishing equivalent arbitrage levels against New York, dealers said. But the market was uncertain, they added, due to concern over the current dry weather In Ohana on the one
      172 words
    • Article
      Tin shipment
      68 8 SHIPMENT of Straits refined tin from Penang for the month of July This period Jan/ July Destination Shipped Afloat Shipped tonnes tonnes tonnes Africa 20.00 Australasia 36.00 171.00 Canada 45.00 Continent 733.00 300.00 11,423.25 India 199.00 125.00 1,341.75 Japan 1,181.75 8,492.25 West Asia 336.50 Pacific 461.00 45.CO 2,044.25
      68 words
    • Article
      Palm oil
      64 8 C.I.F. Rotterdam. US dollars per ton. LONDON: Malaysia 5% ffa bulk Wafeaatoy PrarlMH Aug/ Sept SIS sir unq Sumatra 5% Aug S5SN SSSN Sept 525 sir 520 pd Oct. 405 pd 405 pd Nov. 487.50 sir 485 pd Dec 485 sir 480 sir Nigerian 5* ffa bulk unq
      64 words
    • Article
      Coffee
      251 8 LONDON. Thurs. Futures ended the opening call £29 to £16 per tonne up from yesterday afternoon's close. 428 lots were traded and the market tone was steady. Dealers attributed market steadiness to lack of fresh news and New YorlA abbreviated trading session yesterday. The market at end morning was
      251 words
    • Article
      Straits tin market
      241 8 THE Btralts tin price In Penang yesterday was up Ms 27 to $1,655 per plcul on an official offering up 2 tonnes to 203 tonnes. The continued firmness was due mainly to higher London metal prices as well as speculative buying Interest from Japan and US, dealers
      241 words
    • Article
      Sugar
      227 8 LONDON, Thurs. Sugar futures opened £0.60 to £1.30 per tonne above yesterday afternoon closing levels. Sales totalled 238 lots. Market sources said there was no fresh news. Shortcoverlng Initially lifted prices in thin dealings but fresh selling soon halted the rise. The London daily raws price was reduced £2
      227 words
    • Article
      Rice
      216 8 BANGKOK. Thurs. Indicative prices quoted here were: (US dollar per tonne fob basis) White rice: 100 per cent Ist class 308. 100 per cent 2nd 392. 100 per cent 3rd 288. 5 per cent 277. 10 per cent 253. IS per cent 250. 20 per cent 247 25 per
      216 words
    • Article
      Hongkong comex
      293 8 HONGKONG, Thurs. The cotton futures market closed lower in quiet trading, following the overnight decline in New York, dealers said. Trading centred on March delivery on trade house short covering. March closed 0.25 US cents lower while other months fell 0.47 to 0.70 cents, they said. Total .turnover
      293 words
    • Article
      Soybeans
      171 8 CHICAGO, Thurs. Soybean futures closed yesterday with limit gains of 30 cents a bushel in the August and September contracts. Other months also finished at the day's highs, with gains of 24 3/4 to 19 1/2 cents. The August contract led the advance as shortcovering and speculative buying were
      171 words
    • Article
      Wheat
      116 8 CHICAGO, Thurs. Wheat futures finished yesterday below the day's highs but with gains of two to three cents a bushel. Prices fluctuated narrowly to either side of Tuesday's close in light early dealings, following the trends in soybean futures and the effects of commercial dealings on both sides of
      116 words
    • Article
      Copper
      319 8 LONDON, Thurs. Copper wlrebars finished the morning with losses of mostly £1.00. The steady New York close encouraged some shortcoverlng activity on the pre-market and Three Months traded up to £711 during early dealings, traders said. Subsequently the marginally higher levels were not maintained as hedge selling and general
      319 words
    • Article
      Silver
      230 8 LONDON, Thurs. Silver was mostly 1.0 pence higher. Early values were marked up on the firmness In gold, dealers said. The market subsequently held around the higher levels as covering and fresh buying was met by profit-taking. Three Months closed at 268.7 pence. Turnover was 54 lots. On Wednesday,
      230 words
    • Article
      Gold
      372 8 FOLLOWING firmer result of the IMF auction, the kllobar In Singapore opened higher at 5511,573. Continuous support in the market firmed prices to close at 5511,500. The London market opened at U*****.60/80 which was the high of the day. The London morning fix was U*****.50, up 0.50 on the
      372 words
    • Article
      Lead
      88 8 LONDON, Thurs. Lead closed with cash unchanged and Three Months £0.75 lower. This metal reflected the movements in copper as early shortcoverlng was absorbed .by profit-taking and hedge selling. Three Months traded Initially in the pre-market at £326 but gave ground in the ring to £323 before final kerb
      88 words
    • Article
      Zinc
      98 8 LONDON, Thurs. Zinc lost C 1.50 for cash and £0.25 for Three Months. Early pre-market covering took Three Months up to C 320 but the ring saw sporadic hedge selling develop which pared the position to £316 prior to kerb business finally at £315.50. Sales of 1,600 tonnes were
      98 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      565 8 FIRM rates continued to dominate the local money market yesterday, with no signs of declining over the next few days. With overnight funds opening at 5Vi per cent and dealing at that level for most of the day, dealers said some borrowers were forced to look to terms for
      565 words
    • Article
      Minimum lending rates
      44 8 ACBC 6 l Algemene Bank cv< Citibank Bangkok Bank 7 HSBC m Bank of America Indoiuez «v. 7 Bank of Tokyo Mitaui Bank m Bank Nafara OCBC 1 ndoneaia 7 OUB Chartered Bank L'CB 7 6 V UMBC 7 DBS (JOB
      44 words
    • Article
      Asian $ rates
      150 8 Asian rates ASIAN currency deposit r«te« as at dote on Aug 4. Interbank U8 Dolli Offer in (Spot) BM 7 days 1 mth 2mths 3 mths 6 mths B mths 12 mths .5 15/16 .6 1/16 .63/16 .67/16 .69/16 65/8 513/16 57/B 515/16 61/16 65/16 67/16 61/J 8».Kr». Urn. 1
      150 words
    • Article
      Discount
      46 8 RANGE of prices offered by discount houses on Aug 4 Overnight 3% Call Deposit 3% dm Bmy 3-Month Treasury bills 3-Month Bank bills 3-Month CD 6-Month CD 3 4 1/8 4 5/8 4 11/16 2 7/1 4 4 1/2 9/16 Source: National Discount Co Ltd
      46 words
    • Article
      Euro $ rates
      123 8 Euro rates LONDON, Thurs. Period Eurodollar deposits up to Six Months opened higher, reflecting loss of Friday dealings technicality while shortdates opened little changed from yesterday's closings, dealers said. Trading was quiet. Technical gains in periods ranged from 5/18 in One Month to 1/16 in Six Months and rates traded
      123 words
    • Article
      New York
      168 8 NEW YORK, Thurs. The dollar closed marginally firmer on balance after what many operators described as an overdone rise following Morgan Guaranty Trust's increase in prime lending rate to 6 3/4 per cent from '6 1/2, dealers said. The increase, although only a move to the general industry
      168 words
    • Article
      London
      181 8 LONDON, Thurs. The dollar eased to 2.2875/85 marks from initial indications of around 2.2920/25, dealers said. The US unit's rise in late European trading and in New York last night may have been overdone and the unit is now drifting down amid profit-taking, dealers said. Dealers noted a tight
      181 words
    • Article
      Hongkong
      129 8 HONGKONG, Thurs. The dollar eased to 2.2915/25 marks from New York's closing mid-point equivalent of 2.2931 in fairly quiet trading with some afternoon European buying strengthening the US unit from the day's low of 2.2893, dealers said. The dollar eased slightly against the yen to 265.40/50 from New York's
      129 words
    • Article
      Tokyo
      48 8 TOKYO, Thurs. dollars for Immediate delivery closed against the yen at 265.968 compared with 266.00 at the opening and 266.30 at yesterday's close. Forward dollar rates declined with volume of US$ll9 million. One Month was untraded, Three Months traded at 265.92 uniformly and six months at 265.89/92.
      48 words
    • Article
      Australia /NZ
      59 8 AUSTRALIA/NZ exchanges on Aug 4: Australia: Sterling 0 6395 0 8324 US dollar 1.1068 1 1040 Nlnety-<lay air mall buying rates: Sterling 0 6566 US dollar 0.6379 Ninety-day forward buying rates: Sterling 1 1342 US dollar 1 0994 New Zealand: Sterling 0.5590/ 0 5558 US dollars U.VUtt 0.9665
      59 words
    • Article
      Zurich
      50 8 ZURICH exchanges closing quotes on Aug 3: U8 2.394-3955 UK 4 1650-1675 Can 2 2280-2295 W Germ 104.71-81 Nettl 98 64-73 France 49 39-43 Belf 6.77-1/4-78 Denm 40.07-10 Norw 45.61-64 Swed 54 88-91 Italy 0 2717-2720 Austria 14.73-75 Port 6.21 24 Spain 2 82\83U Arg 0.55-66 Japan 0 90-90s
      50 words
    • Article
      Frankfurt
      42 8 FRANKFURT exchanges closing quotes on Aug 3: US 2 2860/70 Can 2 1275/90 UK 3 975/963 Neth 94.17/22 Bwits 95 42/50 Italy 2 594/600 Prance 47 16/22 Japan 0 8610/25 Belg (conn 6 4«7'475 Betg (finl 6 44'45 Nor* 43.43 51
      42 words
    • Article
      Eurobonds
      350 8 LONDON, Thurs. Straight Eurobonds were steady in quiet trading, dealers said. The INA Corp US$5O million six per cent convertible bond due 1997 opened around 98%/ 99% and held that level on small retail buying, dealers said. Some dealers gave a price of 99/ 99*. Mark and guilder straight
      350 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      118 8 Don't let the language barrier stop you from wider contacts tr 8 1 M r o\> <=>? \T* C <S<2sS"*>G&\ A YOU SIMPLY CANNOT FAIL WITH VISAPHONE. Use it at home, while travel- I ling in fact anywhere and any time that suits you. Possess ing a second or third
      118 words
Page thumbnail Page 9
  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Car sales in US still on the rise
      267 9 Reuter DETROIT, Thurs. New car sales by the big four US car makers were up almost •four per cent in the month of July and sales of imports continued at a record pace, the companies reported. Sales by the companies, -including vehicles
      Reuter  -  267 words
    • Article
      Lock icon Italia decides to pay first
      139 9 AFP GENOA, (Italy), Thurs. The shipping company, Italia, has agreed to pay compensation of 350 million lire (about Ssl million) so that the 45,933-ton liner Raffaello can be delivered to Iran on time on Aug. 22,. It was learned here yesterday. A court ordered detention
      AFP  -  139 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      597 9 ARRIVALS Service Local Operator Number Time From KAL KE807 0015 SEL CAL CI331 0040 TPE/HKG/KUL MAS MH682 0810 KCH PAN PA847 0810 SFO/HNL/GUM 15IA GA900 1000 HLP GIA GA980 1030 HLP SIA SQ211 1045 HLP GIA GA944 1055 PKU GIA GA908 1100 MES PAL PR501 1115 MNL
      597 words
    • Article
      Lock icon 'Cars made in 1985 will consume 15pc less fuel'
      605 9 OFNS LONDON, Thurs. A major British government study being circulated by the Department of Energy says that motor cars manufactured In 1985 will use 15 per cent less fuel than current models because of design Improvements. If this proves to be
      OFNS  -  605 words
    • Article
      Lock icon Emission compromise
      219 9 Reuter WASHINGTON, Thurs. Congressional negotiators yesterday hammered out a compromise on new car emission standards that had threatened to block B reduction and sales of new S and foreign cars. The negotiators from the House of Representatives and Senate agreed to permit car makers to produce their 1978
      Reuter  -  219 words
    • Article
      Boat that has neither rudder nor propeller
      271 9 A BOAT without a rudder or a propeller? It sounds unlikely but the description fits the Hamilton Jet boat. Because it is without a rudder or a propeller, It can sklm at a comfortable speed of 50 kph (30 mph) In only 30
      271 words
    • Article, Illustration
      IN PORT
      298 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Oelang (0800 subject freeboard) 19 Bunga Mas (after Bunga Geland sails) 19 King Lake (0600 22 Lumut (0600 21 West Ravi Kotari (YTTR) (0600) 13/14 Temburong (1) (0600) 25 Temburong (il) (1400 shifts after Perak) (Arent's request) 21 East Yu Heng (1700
      298 words
    • Article
      Lock icon London freight market
      189 9 AP LONDON, Thurs. A rash of Philippine bulk sugar fixing to the US Atlantic coast yesterday showed the current weak state of the market when three 22-23,000-tonners accepted figures between U5515.90 and $16.55 (F10) in August positions. At the beginning of this year, payments for similar business
      AP  -  189 words
    • Article
      Bangladesh-Burma air pact
      62 9 BangladeshBurma air pact DACCA, Thurs. National airlines of and Burma will have unlimited commercial flights between Dacca and Rangoon under an air agreement signed here yesterday. Colonel Khln Ohn. Burmese deputy minister for transport and communication, who flew Into the Bangladesh capital to sign the accord, said that the agreement
      62 words
    • Article
      Lock icon BA finds cracks in its Trident fleet
      153 9 Reuter LONDON, Thurs. British Airways yesterday withdrew eight of its 25 Trident-three Jets from service after checks revealed cracks In their wing supports. A spokeswoman for British Airways said that 12 of the fleet had been cleared but would be rechecked every 72
      Reuter  -  153 words
    • Article
      Lock icon Iata chiefs growth forecast
      132 9 Reuter NEW YORK, Thurs. International Air Transport Association president Manuel de Prado predicts the growth rate of air transport until the late 1980s will be about 7.5 per cent a year, down from the 12 to 13 per cent growth rates of the late 1960s and
      Reuter  -  132 words
    • Article
      Lock icon Argentina to order frigates
      110 9 AFP LONDON, Thurs. Argentina Is preparing to order seven 2,000-ton frigates of the Amazon class from Britain's VosperThornycroft shipyards, reliable sources report. The warship contract, worth more than £500 million (Ss2.l billion) will need British government approval. Six of the ships would be built under licence
      AFP  -  110 words
    • Article, Illustration
      THE ANRO
      97 9 Temasek, which wu launched last week in Kobe, Japan. This vessel waa built for Neptune Orient Linea (NOL) and is the second ro-ro container veeeel launched by the ANRO Consortium. The vessel was launched and christened by Mrs. Hon Sui Sen, wife of the Singapore Finance Minister. Members
      97 words
    • Article
      Lock icon Preference bill has good odds
      149 9 AFP WASHINGTON, Thurs. President Jimmy Carter's proposal to reserve part of Imported oil shipments for American tankers has excellent changes of sailing through Congress, despite Republican Party attacks on the Administration Bill, observers said here. Yesterday. The Merchant Marine Committee of the House of Representatives
      AFP  -  149 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      139 9 f A This Sign Means Business Businessmen Find new products, new ideas, new profits at the NEW ZEALAND INDUSTRIES TRADE EXHIBITION Shangri-La Hotel (Island Ballroom and Foyer) Open daily until Saturday August 6. Hours: 9.30 am 1.30 pm; 4pm 7 pm. For information, contact New Zealand Trade Commissioner, 13 Nassim
      139 words
Page thumbnail Page 10
  • Article, Illustration
    Lock icon BRITAIN: BRIDGING THE COAL GAP
    1118 10  -  By ROY REED NYT WIG AN, (England): Oreat Britain nationalised its coal mines 30 years ago. Since then, the mines have become safer and more pleasant for the men who work underground but a headache for the government managers who replaced the private owners. While
    NYT  -  1,118 words
  • Article, Illustration
    Lock icon Fuel crisis brings India new hope
    690 10  -  Like all the developing countries, India was hard hit by the turge in oil prices. But now, its huge coal reserves offer a chance of cashing in on the energy dilemma. The only obstacle lies in shifting the exports to new customers in Europe
    FT  -  690 words
  • Article, Illustration
    Lock icon Doubts hurt U S-Europe relationships
    743 10  -  By C.L. SULZBERGER NYT PARIS:— It Is almost three months since President Carter held his summit meetings in London with leaders of Industrial lands and Nato. Despite an effort a all parties to give an opnlstlc account of how things stand, transAtlantic relationships have not
    NYT  -  743 words
  • Article, Illustration
    Lock icon Irish uranium potential
    568 10  -  COMMON MARKET HAS MUCH TO GAIN By RICHARD O' CONNOR Reuter DUBLIN: Ireland's heather-clad mountains, usually trodden by sheep and energetic tourists, are arousing Increasing Interest as a possible source of uranium for the European Common Market's nuclear power Industry. The EEC commission has Just allocated nearly
    Reuter  -  568 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      158 10 HANDBOOK w 0* W r SP Die* rii Cas ,n L J 5 7< p 1 H H 16/. by E. Lenox Figgis F.C.A. A practical handbook explaining how batting tokos place on tha world's most popular batting pastimes, including horsas, dogs, football pools, sporting events, casino gamas, such as
      158 words
Page thumbnail Page 11
  • Article
    Lock icon Decision to boost economy in late August
    207 11 UPI TOKYO, Thurs. The Japanese Government will decide in late August whether new measures are needed to stimulate the country's limping domestic economy, Masayoshl Ohlra, Secretary-General of the ruling Liberal-Democratic Party (LDP), said today. In a news conference at the Tokyo Foreign Correspondents
    UPI  -  207 words
  • Article
    Lock icon Meeting on joint drilling project
    129 11 AP SEOUL, Thurs. Japan and South Korea today opened a four-day working level meeting to discuss steps Jointly to drill for oil in the continental shelf between the two countries. The two governments signed a bilateral agreement for the Joint development In 1974. Korea ratified
    AP  -  129 words
  • Article
    Lock icon Serious inflation may hit Thailand
    97 11 AFP BANGKOK, Thurs. Thailand could be headed for serious Inflation In the latter half of this year If the situation Is not carefully watched; the Bangkok Post reported today. Quoting a senior financial expert from the Bank of Thailand, the Englishlanguage paper said high S
    AFP  -  97 words
  • Article
    Lock icon Sugar row talks reopen but no solution is seen
    703 11 UPI AFP TOKYO, Thurs. Japanese sugar importers and representatives of Australian sugar producers resumed their controversial sugar negotiations today at the suggestion of officials of both governments. Industry sources said the resumed talks could run into difficulties, and under the present
    UPI; AFP  -  703 words
  • Article
    Lock icon Export contracts 20pc higher last month
    166 11 UPI TOKYO, Thurs. Certified exports increased more than 20 per cent in July over the same month last year, due in part to price mark-ups effected to counter the higher exchange rate of the yen, according to a government report today. Preliminary figures released
    UPI  -  166 words
  • Article
    Lock icon Muldoon to insist on a meat for fish deal
    384 11 AP WELLINGTON, Thurs. New Zealand Prime Minister Robert Muldoon said he will have talks with Japanese Prime Minister Takeo Fukuda at Kuala Lumpur on Aug. 7 mainly to discuss trade and Japanese rights in New Zealand's 320-km fishing zone which is
    AP  -  384 words
  • Article
    Lock icon Japanese textile firms want to keep yen down
    470 11 Reuter TOKYO, Thurs. Japanese textile firms want the government to help lower the yen to between 275 and 280 to the US dollar, by curbing vehicle and colour television exports, to restore their competitiveness, a spokesman for four textile exporters associations said.
    Reuter  -  470 words
  • Article
    UK trade team coming
    189 11 THE London Chamber of Commerce plans to fly out a high powered trade mission to Malaysia and Singapore by Concorde next June, provided the proposed superfast service Is already in operation. According to Mr. Eoln Mac Donald, the head of the LCC's Asian Pacific section, the
    189 words
  • Article
    Computer president for Toronto meet
    201 11 MR. ROBERT lAU, president of the Singapore Cora§uter Society, left lngapore for Toronto onWednesday for the general assembly of the International Federation for Information Processing. There he will present a paper on plans for a permanent South-east Asian conference and its implications on the development
    201 words
  • Article
    Marco Polo Hotel in $28m expansion
    267 11 THE Marco Polo Hotel is expanding its capacity and improving its already highlevel amenities. The hotel yesterday announced a 128 million expansion which will add more than 300 rooms doubling present capacity. The construction is expected to be completed in two years. There will
    267 words
  • Article
    Lock icon Rise in Bonn reserves
    55 11 Reuter FRANKFURT, Thurs. The Bundesbank said West Germany's net monetary reserves rose 600 million marks (5J636 million) to 87 billion in the week ended July 31 mainly as a result of foreign exchr.nge market intervention h favour of the dollar. The reserve total for the year-ago
    Reuter  -  55 words
  • Article
    Lock icon Jakarta's GNP will double to US$28b
    281 11 AFP JAKARTA. Thurs. Indonesia's gross national product (ONP) has shown a remarkable steady Increase since the start or the first five-year development programme In 1909 and would more than double by the end of the second fiveyear plan in 1980, Research Minister Dr. Bumltro
    AFP  -  281 words
  • Article
    Pioneer
    27 11 PIONEER, makers of audio equipment, has introduced a new stereo cassette receiver that combines an integrated amplifier, FM/AM tuner plus frontloading cassette deck in one unit.
    27 words
  • Article
    Lock icon Fukuda's trip is to win over region's minds and hearts
    1065 11 Reuter KUALA LUMPUR, Thurs. Three decades after World War Two ended, the once-feared Japanese are slowly gaining acceptance among the countries of South-east Asia In their new role as major aid donors for the economic development of the region. Prime
    Reuter  -  1,065 words
  • Article
    Lock icon UNDP studies lure $4b in investments
    384 11 AFP MANILA, Thurs. Thirteen Asian and Pacific countries received US$l.7B billion (554.29 billion) in new foreign Investment commitments as a result of economic development feasibility studies supported by the United Nations Development Programme (UNDP). Investment commitments from domestic sources In these countries raised the
    AFP  -  384 words
  • Article
    Lock icon More apply for promotional privileges
    249 11 Reuter BANGKOK, Thurs. The Thai Board of Investment said it has received more applications for promotional privileges during the first half of this year than during the corresponding periods of the previous two years, because the Investment climate has improved. A board statement said 123
    Reuter  -  249 words
  • Article
    Officers on course
    28 11 TRAINEE officers from the Chartered Bank In Malaysia and Singapore are now attending a two-week course at the bank's training centre in Upper Thomson Road.
    28 words
  • Article
    Lock icon Aussie dairy products sound
    145 11 AFP CANBERRA. Thurs. Australian senior ministers have taken steps to reassure overseas customers of the continuing high quality of Australian dairy exports in the wake of the recent salmonella outbreak in Victoria. The reassurance came in a Joint statement today from the Deputy Prime Minister and
    AFP  -  145 words
  • Page 11 Advertisements
    • Advertisement
      Page 11 Advertisements Column 1
      248 11 APPOINTMENTS General Electric (U.S.A.) Consumer Electronics. Pte. Ltd. invites from suitobly qualified candidates for the position of:ELECTRONIC CIRCUIT DESIGN ENGINEER This position offers an opportunity to innovative, achievement oriented Engineers to demonstrate their design and problem solving skills in the application of linear and digital integrated circuits. The successful candidate
      248 words
Page thumbnail Page 12
  • ASEAN SUMMIT OPENING SPEECHES
    • Article, Illustration
      You can call it a business summit
      407 12 THE Malaysian Prime Minister Datuk Hussein Onn described the Kuala Lumpur summit meeting of Asean leaders as a "business summit." Speaking at the opening session of the two-day meeting yesterday, he said the present meeting was a direct consequence of the Salt summit,
      407 words
    • Article, Illustration
      Sabah gesture brings applause
      440 12 TO THE relief and warm applause of delegates to the Asean summit meeting Philippine President, Mr. Marcos, announced that his country Is ready to drop Its claim to Sabah. The Philippine President made the announcement at the opening session of the Asean summit conference. "As a
      440 words
    • Article, Illustration
      Lee: Shed habit of thinking only in a national context
      1170 12  -  •r QUEK PECK LIM THE Prime Minister, Mr. Lee Kuan Yew, said the success of the Asean summit will not be Judged by speeches made but by agreements on concrete Items which are "the bolts and nuts of economic cooperation."
      1,170 words
    • Article
      Lock icon Three urged to foster ties
      149 12 Reuter MANILA, Thurs. Philippines newspapers said today that countries like Japan, Australia and New Zealand need to cooperate with Asean. "The prospects of a strong, economically vibrant Asean are so bright that other nations in Asia, such as Japan, Australia and New Zealand cannot afford
      Reuter  -  149 words
    • Article
      Lock icon Generous attitude towards requests by region
      559 12 Reuter TOKYO, Thurs. Prime Minister Takeo Fukuda will respond as generously and as fully as possible to requests by Asean for economic and trade cooperation with Japan, the Foreign Ministry said today. However, an Immediate decision on soft loans of US$l billion (8*2.44 billion)
      Reuter  -  559 words
    • Article
      Lock icon Russia boycotts opening
      156 12 AFP KUALA LUMPUR, Thurs. The Soviet ambassador to Malaysia, Mr. V.N. Bendryshev, was absent at the opening ceremony of the Asean summit conference here today. The envoys of East Germany, Czechoslovakia, Bulgaria and Poland also did not attend, although Malaysia, as the host, had sent Invitations to
      AFP  -  156 words
    • Article
      LONDON STOCKS
      712 12 LONDON, Thurs. Government braids met renewed demand and firmed by upto m in light trading, dealers said. Dealers reported a shortage of stock In the market. Equities showed a continuing firm trend with leading industrials gaining up to 6p In sympathy with the strength of the gilt market.
      712 words
    • Article
      CANADA, EEC SEND GREETINGS
      167 12 BOTH the European Economic Community Canada have sent messages to Asean congratulating it on its anniversary and conveying their host wishes for a fruitful meeting of the heads of fovernment mooting in uala Lumpur. In his message, the Canadian Prime Mlnlslai Fife Trudeau said that Aeean's
      167 words
    • Article
      Lock icon Nearly 1m jobless in Germany
      110 12 Reuter NUREMBERG, Thurs. Unemployment In West Germany rose to 972,624 In July from June's 930,974 and the percentage of the labour farce without work rose to 4.3 per cent from June's 4.1 per cent, the Federal Labour Office said. In July 1970 there were 944,009
      Reuter  -  110 words
    • Article
      Lock icon Rice price
      40 12 Reuter WASHINGTON, Thurs. The US Agriculture Department announced a final taraet price of U866.26 (8620.i1) per hundred weight (46 kilo) and a final loan end purchase rale of 66.19 per hundredweight for the 1977 crop of rough rice.
      Reuter  -  40 words
    • Article, Illustration
      The main task that lies ahead
      351 12 INDONESIAN President Suharto said yesterday that the main task facing the leaders of Asean was to reach unanimous agreement to carry out their common economic programmes effectively. Speaking at the opening session of the Asean summit conference, Mr. Suharto said: "I am well aware
      351 words
    • Article, Illustration
      Vietnam hostility poses a challenge
      344 12 VIETNAM was yesterday taken to task for Its "general hostility displayed towards Asean as a collective entity." Referring to it as a "neighbouring country," Mr. Thanln. Kralvlchlen, Prime Minister of Thailand, said this has given rise to a new situation facing the region. The Thai
      344 words
  • Article
    MP for Bukit Merah takes up NTUC post
    241 12 NEWLY-ELECTED MP for Bukit Merah, Mr. Lim Chee Onn, has taken up an important appointment with the NTUC. The actual title of his new Job is not known yet, but Business Times understands that the former Harvard-educated civil servant will be In
    241 words
  • Article
    Admiralty suit judgement reserved
    123 12 THE Court of Appeal yesterday, after a three day hearing, reserved Judgement on an Admiralty suit appeal on how the proceeds from the sale of the tanker, Halcyon Isle, are to be distributed between Judgement creditors Todd Shipyards Corporation of New York and Bankers Trust International
    123 words
  • Article
    Wheat gift
    30 12 ROME, Thurs. Britain will make a contribution of 30,000 tonnes of wheat to the world food programme for 1976/77, the UN Food and Agriculture Organisation (FAO) announced yesterday.
    30 words
  • Page 12 Advertisements
    • Advertisement
      Page 12 Advertisements Column 1
      157 12 Singapore's Financial Dally Customer Services Bureau As a Business Times reader, you deserve the best. Your Business Times should be on your desk before you step Into your office. If you like to read your Business Times at home, it should be on your door-step before you wake up. And
      157 words
    • Advertisement
      Page 12 Advertisements Column 2
      3 12 SEE PAGE 11
      3 words
    • Advertisement
      Page 12 Advertisements Column 3
      30 12 5-T *t'*y V >1 3 I I «l PURE MALT SCOTCH WHISKY -mfuitLu -rc Mail Specially imported by: Hock Tong Bee (Pte.) Ltd., 144 Roc here Rood, Tet *****4,*****2, *****55.
      30 words