The Business Times, 6 August 1977

Microfilm: NL9344
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, AUGUST 6, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Aid for Bangkok
      79 1 Reuter TOKYO, Fri. Thailand today tfgned an agreement with the Japanese uovernment's Overseas Economic Cooperation Fund for aid totalling 24.9 billion yen (***** million) to help lte fourth fiveyear economic plan, it was announced here. The fund said the loan, repayable over 25 years with a seven
      Reuter  -  79 words
    • Article
      Lock icon Coal order
      64 1 AFP JOHANNESBURG, Fri. South Africa is about to win a large coal order from the Japanese government-sponsored Electric Power Development Corporation (EPDC), it was announced here today. It Is likely to supply coal for the new southern Japanese Matsushima power plant from the end of April 1980, under
      AFP  -  64 words
    • Article
      Lock icon The first salvo
      52 1 Reuter BELFAST, Fri. A fire bomb blitz today signalled the start of a protest campaign by Republican Sierlllas against Queen Elizabeth's visit to orthern Ireland next week. But despite this and warnings that the royal helicopter could come under attack, the government said the trip was going
      Reuter  -  52 words
    • Article
      Lock icon Jobless rate down
      69 1 UPI WASHINGTON, Fri. Unemployment declined to 6.9 per cent in July, returning to Its lowest level since the United States began to recover from the recent recession, the Labour Department said today. But employment failed to increase for the first time In nine months and the total
      UPI  -  69 words
    • Article
      Top topics
      35 1 BOGOTA, Fri. Details of a new Panama Canal agreement and measures to defend world coffee prices come under close scrutiny here today at a six-nation summit meeting of Latin American and Caribbean leaders.
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    • Article
      Lock icon Back to owners
      72 1 AP COLOMBO, Fri. Sri Lanka Finance Minister Ronnie Del Mel announced today that four businesses acquired by the previous government were being returned to the original owners. Mr. Del Mel said the defeated government of former Prime Minister Slrlmavo Bandar an aike had taken them over for
      AP  -  72 words
    • Article
      Lock icon Dow Jones
      93 1 UPI NEW YORK, Fri. Stocks were higher early today in response to a decline in July's Jobless rate and a dip in the nation's money supply. Trading was fairly active. Investors hailed the Labour Department's report that unemployment fell to 6.9 per cent In July from 7.1 per
      UPI  -  93 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      185 1 A STEADY to firm trend ruled on the Stock Exchange of Singapore yesterday with moet of the second third liner* rising to new highs on strong speculative support. The sharp advances lifted the Business Times index by 4.90 points to 402.64 the first time it breached the
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    • Article
      In Kuala Lumpur
      115 1 Rites Most active A ok am 3 20 .28 Lien Hoe 338,000 M.A.A. 1.90 .25 S.M.I. 270,000 D. Keramat 7.50 .20 M. Credit 229,000 Berjuntal 0.35 .15 Oljrmpla 210,000 Rahman Hyd 3.44 +.14 Total Turnoi rer: 3.75 M Lien Hoe 1.44 +.13 Total Value: M86.62 M M.Olass
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  • Article
    Unity of purpose and direction
    959 1  -  ASEAN LEADERS SPEAK OUT »y QUEK PECK LIM in K. Lumpur THE Prime Minister, Mr. Lee Kuan Yew, yesterday said that the Kuala Lumpur meeting of the heads of government will be remembered "for the realistic assessment of Asean's progress and potential." Speaking at the
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  • Article
    Dialogue with US put off to Nov
    398 1 THE PHILIPPINE Foreign Secretary, .Car^s month to Nov 7 to f. He was speaking at a press conference held at the end of the heads of government meeting by the five Asean Foreign ministers. Facing more than a hundred Journalists covering the conference,
    398 words
  • Article
    Growth of money supply slows
    394 1 GROWTH of money supply slowed down In June this Bar. Annual growth rate of 1 currency in circulation plus current accounts was 10.6 per cent In June against 10.9 per cent In The slower expansion was due to slower Increase In current accounts, according to
    394 words
  • Article
    SFCCI will be in operation by year-end
    279 1 THE Singapore Federation of Chambers of Commerce and Industry, a proposed formal organisation to represent the collective Interests of the four chambers of commerce and the Singapore Manufacturers' Association, will come into being by the end of this year. This was disclosed yesterday
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  • Article
    Lock icon Unqualified ship officers at the helm
    141 1 AFP HONOKONO, FTI. Some ships sailing the high seas at the moment are feared to be in Jeopardy because 170 supposedly qualified highranking ship officers are actually holding fraudulent licences. These ship masters, first and second officers, and chief, second and third engineers may
    AFP  -  141 words
  • Article, Illustration
    NTUC post could be step to greater heights
    191 1 MR. Lim Chee Onn's new job in NTUC May prove to be the stepping stone towards high political office, poesibiy Minister of State. The recently-elected MP for Bukit Merah, has been appointed deputy director of the NTUC Research Unit. He will be
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  • Article, Illustration
    Index breaks through 400 as buyers chase shares
    339 1 THE Business Times index yesterday broke through the 400-mark for the first time since it was Introduced in January 1975, as strong speculative support lifted most second and third Une stocks on the Stock Exchange of Singapore to new highs. .The Index
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  • Article
    Lock icon Bank of England cuts lending rate
    172 1 Reuter LONDON, Frl. The Bank of England cut its minimum lending rate by 0.5 per cent today, bringing It down to 7.st>er cent. Xpt cut, anticipated for some days, was the first since mid-May and brought the rate down to Its lowest level in
    Reuter  -  172 words
  • Page 1 Advertisements
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      4 1 V J t v% /'%^\?[(,%;!!-{,(*|"<$"!.??)_'[
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      Page 1 Advertisements Column 2
      139 1 YOU CAN DRIVE A PEUGEOT SO4 WITH OWE HAND IN YOUR POCKET The current PARF price for PEUQEOT 504 is only $27,600 whilst its competitors are: LANCIA BETA $27,900 BMW 320 $34,114 AUDI 100S $36,905 VOLVO 244 $36,906 CITROEN CX 2000 $37,640 MERCEDES 200 $44,301 Which means that the luxury
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      Page 1 Advertisements Column 3
      241 1 THE PERFtCT WVESTMENT IZ OB v 18K Gold Gold-filled Stainless Sled $7,900 51,475 $1,350 Pulssr author i ted dee/ers B.P.OeSMve Jewellers Pte. Ltd. 0-21, Supreme House. Penang Road Singapore 9 Tef: ***** Benjamin Oift Shop M 33 Far East Shopping Centre Orchard ftead. SingaporeB. Tel: *****27 Oang Bn Heng Watch
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      Page 1 Advertisements Column 4
      3 1 SEE PAGE 2
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  • MARKET REVIEWS
    • Article
      SINGAPORE
      670 2 LOWER-PRICED Issues continued to dominate trading on the Stock Exchange of Singapore this week and most were taken to new highs again. The first three days of trading was a period of alternating trends for the market as speculators hopped In and out of the volatile issues apparently sizing
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    • Article
      KUALA LUMPUR
      537 2 FORTUNES fluctuated from day to day on the Kuala Lumpur Stock Exchange this week. Monday saw an easy trend after the expectation that prices would hold up following last Friday's late bullish run-up failed to materialise. However, on Tuesday bullish support was accorded to some counters as traders
      537 words
    • Article
      Company news for the week ended Aug 5
      240 2 SCRIP ISSUES North Borneo Timbers: One-for-seven, capitalising M 57,507,500. Selangor Dredging: One-for-three, capitalising M 54,895,310. (Figures In brackets are for previous corresponding period) Adjusted (or any intervening scrip Issue. MS Malaysian ringglt. S$ Singapore dollar, (a) 10 per cent first and final,
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    • Article
      Reserves jump makes for a feverish week
      407 2  -  LONDON ■y IVAN FALLON THE LONDON stock market has turned on its head vet again and is suddenly the world's star performer. The reason: Britain's foreign currency reserves swelled by an amazing US$1.8 billion in July and at $13.4 billion currently stand at
      407 words
    • Article
      Goldsmith does it again — from his Corsican retreat
      561 2 Goldsmith does it again from his Corsican retreat -BIR JAMES GOLDSMITH, although away all week in his holiday retreat In Corsica, has been spiritually very present In the City In as controversial a sense as ever. On one and the same day he announced plans to wind up the banking
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    • Article
      Lock icon Record W. German foreign investment growth forecast
      243 2 Reuter FRANKFURT, Fli. West German foreign Investment should grow at record annual levels at least until 1980 following two record years since 1975, according to director of the Economics Department of the Kiel Institute for World Economics Mr. Norbert Walter. Net capital outflow
      Reuter  -  243 words
    • Article
      Elliott lands a plum job in S. Arabia
      148 2 WEST ASIA is big bueinooo for British com pontes just now, bat ths coup of the year has this wseh noon Announced by the snail (market capitalisation £44 million) prefab group of Peterborough. It has lauded contracts in Saudi Arabia worth £54
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    • Article
      Cons Plant warrants at the centre of SE probe
      353 2 IT HAS now become clear that deals in Consolidated Plantation warrants Involving stockbrokers Hoare Govett and the M and G Unit Trust Group are among the most serious aspects of a London Stock Exchange Investigation Into special price, "putthroughs." It now
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      88 2 Copies Sold 24,000 23,000 22,000 21,000 20,000 19,000 18,000 17,000 16,000 1 5,000 14,000 13,500 CLIMB WITH US No, this is not a graphic study of the Himalayan mountains. It is a twelvemonth study graph of Fanfare's almost-meteoric rise in circulation in Singapore alone. A 6,820 increase in the last
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      396 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Aug 5 at Singapore airport. Maximum Temperature 30.0° C Associated Humidity 74 Minimum Temperature 2S.t°C Associated Humidity 96 Hours of Sunshine 1.80 Rainfall in Millimetres 0.5 Total Rainfhll for the Month 30.7 Total Rainy Days for the Month
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  • OVERSEAS
    • Article
      Lock icon Dollar to remain world's oil currency
      287 3 UPI VIENNA, Frl. The US dollar remains the world's oil currency despite speculations that the major oil exporting countries may abandon It because of its recent drop in value on the foreign exchange markets. Finance ministers of the Organisation of Petroleum Exporting Countries (Opec)
      UPI  -  287 words
    • Article
      Pretoria money system comes under scrutiny
      180 3 PRETORIA, Frl. South African Finance Minister Owen HOrwood announced the appointment of a commission of Inquiry into the monetary system and monetary policy in the Republic. "It is essential In my opinion that the application of monetary policy in these changed and still rapidly
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    • Article
      Lock icon Krugerrand sales soar
      123 3 Reuter JOHANNESBURG. Frl. Krugerrand sales row to 313,000 coins In July from 170,080 In June and 180,305 In July last year, International Gold Corp Ltd manager Don McKayCog hlli said. At current gold production levels this means the coins accounted for some 15.10 per cent of last
      Reuter  -  123 words
    • Article
      Lock icon Six firms to build Mexican pipeline
      192 3 AP HOUSTON, Frl. Six US pipeline companies have signed a memorandum of Intention with Mexico to build an 1,370 km pipeline and Import Mexican natural gas Into the United States, the firms announced yesterday. A spokesman for Texas Eastern Transmission Corporation of Houston said
      AP  -  192 words
    • Article
      Lock icon Eleven proposals for Alaska oil
      108 3 Reuter ANCHORAGE, Fri. Eleven proposals were submitted to the state for the purchase of 150,000 barrels a day of Its Prudhoe Bay Royalty Oil, the Alaska Royalty Oil and Gas Development Board said. Eight of the bids contain proposals for construction of new refineries or
      Reuter  -  108 words
    • Article
      Lock icon Energy revenues revised
      65 3 Reuter OSLO, Frl. The Finance Ministry said It lowered estimated 1977 Norwegian North Sea oil and gas production revenues to 10 billion crowns at 1976 prices from 11.1 billion estimated in the revised national Budget. The end-April Bravo rig blowout and delays In delivering Ekoflsk field *gas
      Reuter  -  65 words
    • Article
      Lock icon US prime expected to rise
      427 3 Reuter NEW YORK. Frl. U8 bank prime lending rate* are expected to rise, but not for at least another two weeks, money market analysts and economists said. Yesterday's prime rate Increase by Morgan Guaranty Trust Co. to 6-3/4 per cent from 6-1/2, which moved Its
      Reuter  -  427 words
    • Article
      Lock icon Vance cuts budget deficit forecast
      311 3 Reuter WASHINGTON, Frl. Budget Director Bert Lance said he now estimates that the Budget deficit (or the current fiscal year ending Sept 30 will be about US$46 billion (***** billion). This Is some $2 billion lower than the Budget revisions made in July which then
      Reuter  -  311 words
    • Article
      Lock icon W.German industrial output rise 2 pc
      303 3 Reuter BONN, Frl. West German Industrial production rose provisionally by two per cent seasonally adjusted In June following May's provisional fall of almost two per cent, an Economics Ministry spokesman said. A ministry spokesman said the seasonally adjusted production Index (base 1970) rose to
      Reuter  -  303 words
    • Article
      Lock icon Canadian economy will be below par
      196 3 UPI OTTAWA, Frl. The Canadian economy will fall to attain its potential growth in" 1977, but all provinces will enjoy an accelerated pace of economic growth next year, the Conference Board in Canada said yesterday. The Research and Analysis Organisation said the national outlook
      UPI  -  196 words
    • Article
      Lock icon Air controllers to strike on Monday
      147 3 AP OTTAWA, rrl. Leaders of the union representing Canada's 2,200 air traffic controllers said yesterday that contract talks with the Svernment had broken wn and rotating strikes would begin Just before midnight on Monday. They said the government would be given tlx hours' notice
      AP  -  147 words
    • Article
      Lock icon URANIUM CARTEL 'IS LEGAL'
      350 3 UPI OTTAWA, Frl. Prime Minister Pierre Trudeau said yesterday the govern- mentis participation In a uranium cartel did not violate Canadian law and accused Opposition members of serving the Interests of "Westlnghouse In the United States' r by probing the matter. Opposition members spent most of
      UPI  -  350 words
    • Article
      Lock icon Apel flies to Paris for IMF meeting
      193 3 Reuter BONN, Frl. Oerman Finance Minister Ham Apel Is flying to Paris this evening to take part in tomorrow's IMF meeting on the Wltteveen facility. Finance Ministry sources said. No meeting of ministers from the "Group of Five" the US, Germany, Japan, France
      Reuter  -  193 words
    • Article
      Lock icon Consumer index up
      49 3 Reuter ROMS, Fri. Italy'! consumer price index for vorfcln« families rose 0.8 per cent in July after a 0.9 per cent Increase tn June, the Statistics Institute saM. This was the lowest Increase since July last year and brought the Index to 118.9 (base 1978). Reuter.
      Reuter  -  49 words
    • Article, Illustration
      Lock icon Senate confirms Energy Dept head
      153 3 AP WASHINGTON, Prl. The Senate yesterday confirmed Mr. James Schlestnger (above) as the United Btates' first Secretary of Energy, hours after President Carter signed Into being the new Department of Energy that he will head. Mr. Schleslnger was approved unanimously, without debate. Mr. Carter warned
      AP  -  153 words
    • Article
      Lock icon MONEY SUPPLY FALLS
      85 3 Reuter NEW YORK, Frl. U8 narrowly-defined money supply (M-l) fell U891.5 billion (813.0 billion) In the week ended July 27 to a seasonally adjusted 5327.5 billion, the Federal Reserve Bank of New York said. More broadly-defined M--2 Tell $100 million to $785.7 billion. Commercial and industrial loans
      Reuter  -  85 words
    • Article
      Lock icon Tourism bonanza in the Jubilee year
      295 3 UPI LONDON, Frt. Britain should glean about £3 billion (8$ 11.71 billion) in Queen Elisabeth'a silver Jubilee year from a record 11 to 12 million overseas visitors, the British Tourist Association (BTA) said yesterday. "This puts tourism right among the leaders of export Industry
      UPI  -  295 words
    • Article, Illustration
      Lock icon Rising tide of pay demands put Britain's future at stake
      475 3 AP LONDON, Frl. Prime Minister James Cfcllaghan's hopes of heading off a battle with Britain's grumbling labour unions over pay raises have been badly damaged by a rash of demands for Increases of up to 50 per cent. The militant
      AP  -  475 words
    • Article
      Lock icon They won't be hired
      74 3 Reuter LONDON, Frl. Britain is to refuse all applications to employ people from outside Europe as resident domestic workers or nursing auxiliaries, the Department of Employment announced yesterday. Mr. John Orant. Undersecretary for Employment, said the decision was taken against "a background of unacceptably high unemployment.
      Reuter  -  74 words
    • Article
      Lock icon Aero exports net a record
      141 3 Reuter LONDON, Fri. Britain's aerospace exports, boosted by sales to China, were worth a record £490 million (552.06 billion) in the first half of this year, the Society of British Aerospace Companies (SBAC) announced yesterday. The total was £41.6 million more than in the same
      Reuter  -  141 words
    • Article
      Lock icon Civil service wage stand
      122 3 Reuter LONDON, Frl. Civil servants warned the government yesterday that while not wanting to rock the economic boat they had no Intention of betas worse off than anybody else In pay deals. The Civil Service Union said government policy on Incomes would almost inevitably mean that
      Reuter  -  122 words
    • Article
      Lock icon No FT
      24 3 Reuter LONDON, Frl. The Financial Times newspaper did not appear today because of a dispute between management and compositors over time off.
      Reuter  -  24 words
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      74 3 cAn Enduring Relationship Bt, %r- -.i*. ,v pgqg I 3» v J ft v- 1 r' /A\ J mm a ev -fj > -1 /-r < c^Anl Enduring c Taste SALIC.NAC COGNAC The French certainly know ho/, to age and rnature a Cognac Saiignac-warm: amber satisfaction m aciark. silky q
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  • COMPANY NEWS
    • Article
      Alexandra slips despite a strong second half
      343 4 ALEXANDRA HOLDINGS reported yesterday that group pre-tax profit fell two per cent to $580,531 for the year ended March 31, 1977 despite a fighting finish. Group net profit, however, recorded a seven per cent rise to 9337,499' largely as a result of lower
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    • COMPANY MEETINGS
    • LATEST RESULTS
      • Article
        MURATA MANUFACTURING
        31 4 Consolidated net profit 3.52 billion yen (173 million) on sales of 43.76 billion yen (23.M billion) for the year ended March 31, 1977. Earnings per share 96.07 yen (5.31).
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    • Article
      New labour pact signed at D. Keramat Smelting
      490 4 PENANO, Frl. Datuk Keramat Smelting, a wholly owned subsidiary of Datuk Keramat Holdings, and the National Union of Industrial Mineral Smelting Workers, representing about 500 of the company's employees, yesterday signed their third collective agreement. The new agreement, which is expected to
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    • Article
      Y.S. Line (Cayman) loses out on operating expenses
      607 4 Y.S. LINE (Cayman), a wholly-owned subsidiary of Yamashlta Shlnnlhon Steamship of Japan, Incurred a consolidated net loss of U*****,321 for the year ended March 31, 1977 mainly as a result of losses from Its shipping operations. This compares adversely with a net
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    • Article
      DIVIDENDS ANNOUNCED
      208 4 Current Ex Date Total for Total for payment Date payable tkeyear previous year Oriental Holding* 9% July 28 Aug 10 15% 15% B. Sembawang 20% July 28 Aug 15 20% 20% Riverview Rubber 6%I July 27 Aug 15 11%I 16%a Sanyo Industrie* 12%TE July 20 Aug 10 12%TE
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    • Article
      PEOPLE IN BUSINESS
      167 4 TOSHIBA (Malaysia) Berh&d has announced the resignation of Mr. M. Kuraahima as managing director of the company from July 31. He has been succeeded by Mr. Michio MuramaUu who was appointed managing director on July 7. The company has also announced the appointment of Mr. Tsuguaasa Takatoh
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    • Article
      Lock icon United Tech ups Babcock offer
      206 4 Reuter HARTFORD, CONN, PTI. United Technologies said It raised Its offer for the approximately 12.2 million outstanding Babcock and Wilcox common shares to $48 In cash net to the seller. On March 29, United Technologies submitted a cash proposal to the board of Babcock and
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    • Article
      Lock icon Tenneco to buy Mexican gas
      175 4 Reuter HOUSTON, Fri. Tenneco said It has signed a letter of Intent with the Mexican state oil agency Petroleos Mexicanos to purchase surplus Mexican natural gas. The company said when full deliveries are attained an estimated 28.28 million cubic metres per day will be available
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    • Article
      Lock icon Diesel Kiki
      42 4 Reuter TOKYO, Frl. The Tokyo Stock Exchange said It raided margin trading aulrement for Diesel Klkl to 70 per cent Including 30 per cent In cash from 00 per cent Including 20 per cent In cash with Immediate effect. Reuter.
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    • Article
      Lock icon Stolt-Nielsen gets US$50m BP loan
      108 4 Reuter OREENWHICH, CONN., Frl. Stolt-Nlelsen Inc, a unit of Btolt Tanker and Terminals Holdings SA, said British Petroleum's subsidiary, BP Tanker has lent It $50 million and has the option to convert the loan Into a 50 per cent equity holding in Stolt-Nlelsen. Stolt-Nlelsen, a
      Reuter  -  108 words
    • Article
      Lock icon Bank of England's role questioned
      747 4 FT LONDON, Frl. The Bank of England said that It had taken part in the rescue and sale of Edward Bates and Sons, the fully authorised London merchant bank, because It did not want to see anything resembling a repetition of the affair at Herstatt,
      FT  -  747 words
    • Article
      CHICAGO BOARD OPTIONS
      1375 4 On August 4 TRADING in options on the Chicago Board Options Exchange came to 75,174 contracts on Thursday compared with 84,387 contracts on Wednesday. OPTION OCT JAN APL STOCK Alcoa Alcoa Am Kip An Bip An Tel Am Til Am Td AUB AUB Avon Avon Bank Am
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    • Article
      Lock icon 1,000 laid off at Lucas
      67 4 Reuter LONDON, Frl. Lucas Industries said it Is likely to lay off a further 1,000 workers at the end of this week, bringing the total lald-off by a toolroom workers' strike to 9,500. Some 1,200 toolroom workers In the Birmingham area have been on strike
      Reuter  -  67 words
    • Article
      Lock icon Pays-Bas gets green light
      94 4 AFP SEOUL, Frl. South Korean authorities today authorized the Banque De Paris Et Des Pays-Bas to open a branch office In Seoul. It became the 15th foreign bank to operate In South Korea, and the third French bank after the Banque Natlonale De Paris and the
      AFP  -  94 words
    • Article
      Lock icon Roc him gets factory order
      61 4 AFP LIDWIGSHAFEN, WEBT GERMANY, Frl. The Rum&nl&n company Rochim has ordered the design and delivery of an acetic acid factory from Basf, the West German chemical group said here yesterday. It will be built In the chemical complex at Craiova and go' 'on stream" In
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    • Article
      Lock icon NSC's pact with Pohang
      65 4 Reuter TOKYO. Frl. Nippon Bteel Corp (NSC) and Its subsidiaries Including Toyo Menka KK signed a US$l9 million contract to supply South Korea's Pohang Steel with a 1,800-tonnes a day brlcket blend coking plant and related processes. NSC said the plant will be completed by November
      Reuter  -  65 words
    • Article
      Lock icon Grumman expects further improvement
      261 4 Reuter BBTHPAGE, N.Y., Fri. Grumman Corp. said it expects a continued Improvement in Its results throughout the net of the year. The company today reported second quarter net earnings of U559.93 million or 91.12 a share (07 cents diluted), up from $7.19 million or 93 cents
      Reuter  -  261 words
    • Article
      Lock icon Anderson decision is not the first
      690 4 NYT NEW YORK, Thurs. The decision by Anderson, Clayton and Co. to lower the price of its proposed tender offer for the stock of The Gerber Products by U8 93 a share, to 937, Is not the first time a scorned corporate suit trimmed
      NYT  -  690 words
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      Page 4 Advertisements Column 1
      166 4 GAMBLERS HANDBOOK V. Hc^ 5 is 9 Dl^ >s rit it I I t ?v ifl fir 5 H HP 0 lb f u by E. Lenox Figgis F.C.A. A practical handbook explaining how batting takes place on the world's most popular batting pastimes, including horsas, dogs, football pools, sporting
      166 words
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  • Article
    Once proud Slater Walker is no more
    1013 5  -  By IVAN FALLON SLATER WALKER, the name which became a legend In Its own brief lifetime, is effectively no more. This week the Bank of England, In its avuncular role of balling out black sheep authorised banks, agreed to a £28 million deal
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  • Article
    Lock icon Higher tax lowers BHP net earnings
    278 5 ASIAN COMPANIES Reuter UPI MELBOURNE, Frl. Broken Hill Pty Co Ltd (BHP) said it revised its net profit before extraordlnarles and minorities for the year ended May 31 to A 571.77 million from $73 million to reflect a $1.22 million rise to $130.87 million
    Reuter; UPI  -  278 words
  • Article
    Lock icon Philip Morris up
    140 5 Reuter MELBOURNE, Frl. Philip Morris (Australia) has raised unaudited net operating profit for the year ended June 1977 to A 526.5 million from $24.6 million last time. It Is also Increasing the final dividend by 10 cents to 25 cents, making a total of 45 cents for
    Reuter  -  140 words
  • Article
    Lock icon Ex-CRA chief dies
    44 5 Reuter SYDNEY, Fri. Sir Maurice Mawby, former chairman of the giant British-controlled mining group Conzlnc Rlotlnto of Australia Ltd., died in hospital here yesterday, aged 72. Sir Maurice, who retired In 1975, was a pioneer of the Australian minerals Industry. Reuter
    Reuter  -  44 words
  • Article
    Lock icon Picop sells offshoot to San Miguel
    171 5 Reuter MANILA, Fri. Paper Industries Corp of the Philippines (Picop), Southeast Asia's only newsprint producer said it is selling its carton manufacturing subsidiary Rus tan Manufacturing Corp to San Miguel Corp at a price to be determined by an independent appraisal. A press statement
    Reuter  -  171 words
  • Article
    Lock icon Benguet says Dizon project delayed
    210 5 Reuter MANILA, Frl. Benguet Consolidated Inc said the start of commercial production at its Dlzon coppergold project In the Philippines will be delayed until the last quarter of 1979 from the expected start-up In first quarter 1979. The company said It has received approvals In
    Reuter  -  210 words
  • Article
    Lock icon Exchequer stock
    51 5 Reuter LONDON, Frl. The Bank of England said the full amount of the £800 million 9Vt per cent 1961 exchequer stock offered has been allotted and all applications received from the public are being allotted In full. The list of applications for the issue opened and closed yesterday.
    Reuter  -  51 words
  • Article
    Lock icon Tokyo smelters pay more for bauxite
    117 5 Reuter TOKYO, Pri. Three Japanese aluminium smelters have agreed with Oove Alumina Ltd of Australia to pay 20 per cent for bauxite It is shipping to Japan from the northern territory this year, Nippon Light Metal Co Ltd said. Nippon Light, Showa Denko Kalsha
    Reuter  -  117 words
  • Article
    Lock icon Rockwell officers discard holdings
    299 5 NORTH AMERICAN COMPANIES UPI TWO principal officers of Rockwell International Corp., the firm that wu to build tho B1 bomber, sold one-sixth of their holdings worth US$l.4 million 10 lajri before President Carter killed the programme, federal records Another top official sold 5.000 shares for |IM,OOO
    UPI  -  299 words
  • Article
    Lock icon Views differ on proposal to set up futures mart
    429 5 Reuter ECONOMISTS and commodity market analysts have mixed views about the success of establishing new futures markets for cotton and rice on the New Orleans Exchange. Bources said efforts to restart the New Orleans Cotton Exchange appeared to be In a
    Reuter  -  429 words
  • Article
    Lock icon ATT confident of averting strike
    102 5 Reuter AMERICAN TELEPHONE and Telegraph Co said it is optimistic a strike can be avoided by next Sunday although it conceded time is running out. Formal negotiations broke down earlier this week but the company said It expects the talks to resume before the Sunday
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  • Article
    Lock icon Atlantic Richfield higher
    127 5 Reuter ATLANTIC RICHFIELD has raised its net operating profit in the first half-year to U*****.47 million from $269.37 million last time. Sales too have been buoyant rising from $4.2 billion to $5.6 billion. The company Is raising its quarterly dividend to 50 cents per share from 40
    Reuter  -  127 words
  • Article
    Standard Oil improves
    71 5 THE Standard OH Companies of California and Ohio have both Improved their first half performance, although the latter's gain came largely from profit on sale of assets. Standard California's net earnings for the six months came to US$5O5 million against $388 million. Standard Ohio's rise was from
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  • Article
    Lock icon Americans switching to vodka
    244 5 UPI AMERICANS are switching to vodka, wine and beer, and a decline in scotch whisky sales In the United States may threaten the existence of several brands here, the latest Issue of Business Week magazine said The Aug 15 issue of the magazine said: "Scotch whisky
    UPI  -  244 words
  • Article
    Lock icon Schlumberger
    80 5 Reuter SCHLUMBERGER LTD said in reporting sharp rises in second quarter and first half earnings that the gain in net income waa due to strong oilfield service activity worldwide and improved results in measurement and control operations. The company reported a 38 per cent rise in second quarter net
    Reuter  -  80 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      499 5 MOSCOW NARODNY BANK LIMITED INCORPORATED IN LONDON IN 1919 AS A PRIVATE LIMITED COMPANY BALANCE SHEET AS AT 31st DECEMBER 1976 1976 £000's 1975 £000's Capital Authorised: 40,000,000 Ordinary Shares of £1 each Issued: 36,500,000 Ordinary Shares of £1 each fully paid Reserve Account Profit and Loss Account Current, Deposit
      499 words
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  • Article
    Share Information Service
    2323 6 itn a** Lew Cuiy Last Sale +erOr** 6hr Dhf t'rr Qr*t C Net P/B Vol Day Sigh Lew 8ECTION ONE INDUSTRIALS 154 204 96 230 88* 196* 169 223 396 171 136 172 58 212 57* 156 152 182 350 145 Acma Alcorn Allied Choc Bata Ben
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  • Article
    Transactions in Singapore
    1501 6 BID tad offer prices ofMalb Mated •ad buetnaaa In tad reported to the Slock Eichtnp of Singapore ywUt day with the numberofsharsa traded ahowi In brackata In hats of 1000 units anlaao otherwise *»ctrted AH Tlaaa Settlement Contract* art HSUd after the ward ••Sett." Ml Board daaU
    1,501 words
  • Article
    In Kuala Lumpur
    1521 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 lots of 1.000 units unless otherwise specified INDUSTRIALS AJlnemeta (I.OTB 2 008). Attain (1.008 1 098) A. Chec (0.028)
    1,521 words
  • Article
    Stock options
    53 6 STRIKING prtaaa ml tka Mack ate officially [i«tad am tk« Slack »"*"f aTSiacapat* tka pariah kUairiaSt prieaa and 4aaa jraatardajr, witfc tka ■on bar ml InM akawi k brtdnu. Incbcape (Dec $2.40. (0.328) Pia Electric (Dec 11.90) (0.158 0.195) U. 0.8. (Dec $3.20) (0.188 0.198) (2) 0.19 V«um
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  • Article
    Unit trusts
    146 6 SINGAPORE UNIT TKU8T INCOME BOND UNIT (Maaagars' prim 1 far A«l) (Call P» tan) The Commerce.... 1.71 1.S1 INCOME BOND 1.07 1.12 The Sa v ing Fund •.M l.M MARA BUMIPUTRA FUND 8'pore Prof Fund OSS 0 90 (Mauler*' prion far Aaf 8) 8 'pore Security First Bumlputra
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  • Article
    CORPORATE BONDS
    163 6 B O T 8 1/2% 1961 (100,000) (103*B 103*8) B O T 7 5/8% IM4 (100,000) (98*B 99*8) LTCB J 1982 (100,000)(MSB 998) Credit Lyoauli Floating 1983 t 100.000) (98*B 98*8) > B 9 Convert* 6 1/2% 1991 (100,000) (988 98*S) D B S 8 1/2% 1982 (100,000)
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  • Article
    GOVERNMENT BONDS
    135 6 Rep Spore D Mark 7% 1982 i 100.000) (100*B 101*8) tep Spore 6 1/2% 1983 (100,000) (9958 1008) Rep Spore 7 3/4% 1987 (100,000) (100 KB 1018) 5 1/4% 15/7/78 (250,000) (101.408 101.508) 4 3/4% 1/5/79 (250,000) (100.858 100.908) 5 1/4% 15/10/79 (250,000) (101.958 102.058) 5 3/4% 1/6/78-80
    135 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      176 6 Confront Singapore's decision makers in Business limes 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
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  • Article
    BT INDEX HITS 400
    570 7 A STEADY to fin tread ruled the Stock Exefc—i at Siagsasrs ysstsr day with ut rftkimd and third llavi ——J»-g new high* oa stroag speculative rapport. Alter a lightly steady opening, than prices succumbed to proflt-takiaf towards the does sfthsssidmoraine session. However, the afternoon saw buyers
    570 words
  • Article
    SHARP GAINS ON KLSE
    433 7 RENEWED speculative Interest in the lower-priced shares pushed the Kuala Lumpur stock market higher in fairly active trading yesterday. Buyers emerged In numbers after staying on the quiet side for the better part of this week and raised share prices by as much as 20 to
    433 words
  • Article
    Lock icon Westdeutsche Landesbank
    54 7 Reuter FRANKFURT, Frl. Westdeutsche Landesbank Olrozentrale may manage three Eurobonds this month totalling 300 million marks, primary bond market sources said. The three issues expected are 100 million marks for the Olrozentrale of Vienna, 50 million for the Austrian Motorway Authority, Pyrhn Autobahn Ag of Graz, and 150
    Reuter  -  54 words
  • INTERNATIONAL STOCK MARKETS
    • Article
      Hongkong
      345 7 HONOKONO: The market closed slightly hlghsr In continued qulst trading, dealers said on Friday. The Hang Seng index roes 2 .67 points to 416.79. Hisgkisg Beak rose 10 cents to $1160, Hisfcseg Lmi five cents to $6.60, tfstshksa 16 cents to $3.20 Jsrdiae Mstbssss 20 cents to $13.60 and
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    • Article
      Tokyo
      489 7 TOKYO: The market continued higher on buying In speculative issues on Friday. The Dow Jones average gained 13.46 to cloee at 9074.79. Trading volume roae to a year's high of 830 million shares. The New Index closed at 377.57, 1.11. Buying Interest shifted to speculative* and small capital shares
      489 words
    • Article
      Sydney
      406 7 SYDNEY: The market cloeed little changed in quiet trading on Friday with mines generally steady and Industrials slightly higher, dealers said. The Sydney All-Ordinaries Index rose 0.26 point to 438.35. BHP rose 10 cento to $6.60, below the day's high of $5.90 after news It will go ahead with
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    • Article
      Manila
      136 7 MANILA: The market closed higher across the board on Friday, with turnover rising to 4.31 million pesos from Thursday's 3.56 million dealers said. Higher overseas metals prices aided minings, with Mariatfuqua rising four points and Atlas. PUlra and Liputi two points each. Leading oil Issues were up to two
      136 words
    • Article
      Bangkok
      99 7 AUG m Bahts Asia Fibre 1M well Bangkok Bank Ml •M B: {> W ♦8 Bangkok-Metro-politan Bank Brrll Juckar 300 m 411 ♦41 10 -S Charoonj Thai Wirt iaw Dumex DusttThanl Paber Merlin rim Trust ISO >7 Indo-Thai lit Industrial Finance Corp ***** J And J Ho 174 -3
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    • Article
      Amsterdam
      260 7 AMSTERDAM: The market cloeed higher on Thursday over a broad front, although gains were moderate In general, dealers mid. Elsewhere firmer shares Included KLM, ParkHoed, Bljenkorf and most shippings. Gieseea-de Neeri lost 4.50 Sullders. Bols, Fekker and [iddonstsnrisbanfc were among Isolated lower spots. State loans were slightly higher. AUG
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    • Article
      Brussels
      162 7 BRUSSELS: Share prices closed lower In very quiet trading on lack of buying Interest, bource sources said on Thursday. Reserve, Soflna and Sotvay rose but Uaerg, FN, AstariMUM, Ebes. Hoboken, CocMU and UCB all fell. In foreign stock US and German were lower, Dutch slightly higher, Canadian and French
      162 words
    • Article
      Frankfurt
      272 7 FRANKFURT: Shares closed higher after fairly quiet trading, bourse sources said on Thursday. higher benk^DiMiUck* *90 and Dveedaer luk 2 20 marks. Mhhm row 2.30 marks after announcing Inpmd net profit In the nine months to June 90, while in autos, VW and BMW were up 1.7 and 0.70
      272 words
    • Article
      Milan
      148 7 MILAN: Stocks closed mixed on Thursday with only narrow price movements from Wednesday's close, bourse sources said. Aaic, Plat, Pirelli SPA and ItalceMßti were marginally lower. Bastegi, Montedison, Olivetti ordinary and Pirelli E C were among stocks to firm slightly. Other Industrial and financial leaders were barely changed. AUG
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    • Article
      Paris
      317 7 PAR 18: The market advanced In all sectors on Thursday following a television Interview on Wednesday with French communist party leader Oeorjges Marchals In which he levelled criticisms against his socialist partners, dealers said. Investments and motors made only small gains while electrlcals advanced more strongly. Foreign stocks were
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    • Article
      Zurich
      257 7 ZURICH: The market fluctuated narrowly, with banks. Insurances, flnanclals and leading industrials showing only minor variations either way, dealers said on Thursday. Oerlikoa-Bnekrie met some buying Interest, but with only bearer shares gaining ground. Chemicals, metals, engineerings and foods closed mainly steady. In the foreign sector, dollar stocks firmed
      257 words
    • Article
      Jo'burg
      315 7 JOHANNESBURG: Oold shares were generally firmer In fairly active trade on Thursday, reflecting the higher bullion price, dealers said. Some prices eased towards the close on proflttaklng. Mining flnanclals followed producers hdglMr. De Beers rose one cent to Coppers were quietly steady while platinums declined marginally. Tin shares were
      315 words
    • Article
      Toronto
      261 7 TORONTO: Prices closed moderately higher In light trading on Thursday. The composite Index was up more than three point* and advances outpaced declines 257 to 138. Ashland Oil Canada gained tt to 12V It raised Its semi-annual dividend. Alberta Energy, up Vfc to 16V encountered oil and gas at
      261 words
    • Article
      New York
      1101 7 NEW YORK: The stock market, encouraged by unexpectedly high retail sales In July, closed higher In fairly slow trading on Thursday. The market began Improving shortly before noon when Sear* Roebuck and Co, the nation's largest retail chain, reported a more than 21 per cent Jump in Its
      1,101 words
    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIALS Thursday 464.9 Wednesday 458.2 Week Ago 440.2 DOW JONES AVERAGE INDUSTRIALS Thursday 888.17 Wednesday 886.00 Week Ago 883.71 LONDON DOLLAR PREMIUM Thursday 110% to 110% Wednesday 110% to 111% H.K. HANG SENG Thursday 414.12 Wednesday 414.13 Week Ago 414.95 ALL ORDINARIES Thursday 438.09 Wednesday 439 84
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      Page 7 Advertisements Column 1
      390 7 BUSINESS TIMES Airline Directory ASovMt Airii 110-112 Show Cantra, Orchard Road, SiiwipoM 9 {Td: 377.111) Air Ciykn 302-0, 3rd Boor, Marin* Houm SKenton Way, tin)ifori (1) (Td: ******3) Air Franca J n u*| »L IvV VIHVMIVV| •Iwwflfwfl vj SiiMMrt 1 (Td: *****11) 14tfi Floor UIC Building jhinttw Way liniipori 1
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      464 8 ON the Singapore rubber piarket yesterday, opening Quotations were marked up .25 cents In line with steadier London advices, but prices later eased fractionally on freer offerings of September and October in thin trading. Towards the morning close, however, values recovered and returned to opening
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    • Article
      R.A.S. PRICES
      342 8 Prices in cents per kilo yesterday: Noon (per kilo) Clo (P«r 1 ee Kilo) lilt. 1 R.S.S. prompt f.o.b. Buyers Sellers Buyers Sellers 190.23 191 25N 190.50 191.SON Int. 1 R.S.S. August 191. SO. 192.00 192.00 191.50 Int. 1 R.S.S September 193.75 194 00 194.25 194.75 Int 2
      342 words
    • Article
      SSR AND SMR
      94 8 NOON SSR and SMR prices yesterday August Sn Member R.A.S. (Current Mtk) (Forward Mtk) Buyers Mien Buyen I Sellers (cents P«rk*> tspark<) SSR 20 (1 ton pallet) 191.50 193.50N 192.50 194.50N SSR 50 (1 ton pallet) 189 00 191 00N 190.00 192.00N M.R.E.L.B SMR5CV (1-ton pallet) 212.75
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    • Article
      Closing orices
      30 8 Rubber: August 5 Singapore: August 1*2.00 cents (up 1.50 oenta.) Malaysia: August IM.OO cents (up 2.00 cents) Tin: $1,057 («P 12) Official offering: 181 tonnes (down 22 tonnes)
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    • Article
      Produce exchange
      433 8 THE Singapore produce market yesterday closed the week on a very quiet note as overseas buying Interest remained generally at a low ebb. A barely steady condition ruled in the copra and coconut oil markets as bearish influences from overseas markets continued to hold sway on local market
      433 words
    • Article
      Cocoa
      216 8 LONDON, Frl. Terminal cocoa finished a fairly lengthy but Irregular opening call with losses from Thursday night of £2.50 (September 1978 at $2,132.50) to £27.50 per tonne. The market Initially traded near September at £2,670 (£30.50 down) but staged a modest rally on weekend shortcoverlng, trade buying, possibly price
      216 words
    • Article
      Rice
      213 8 BANGKOK, Frl. Indicative prices quoted here today 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
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    • Article
      Palm oil
      66 8 C.I.F Rotterdam. US dollars per ton. LONDON: Malaysia 5% ffa bulk Aug/Oct Sumatra 5S Aug Sept Oct No* December Nigerian 5H ffa bulk ROTTERDAM: Sumatra: September Zaire (Belg francs per kilo) Thursday 515 sir 585 sir 525/527.50 pds 502.50 sir 495 sir 485 sir unq 530 sir unq
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    • Article
      Coffee
      244 8 LONDON, Frl. Futures ended the opening call easier toy £135 to £82 per tonne from Thursday's close. 795 lots were traded. Dealers attributed the sharply lower opening to New York's limit down close, lack of roaster offtake and lack of fresh news. They said trading was well matched between
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    • Article
      Straits tin market
      217 8 THE Straits tin price in Penang yesterday was up MS2 per plcul to $1,657 on an official offering down 22 tonnes to 181 tonnes. In LONDON yesterday, tin lost around £42 for cash and £35 for Three Months standard. High grade was £25 and £12 down respectively.
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    • Article
      Sugar
      214 8 LONDON Frl, Terminal opened £0.95 to £0.40 per tonne above Thursday afternoon closing levels on light short-covering in a thin and featureless market. Sales totalled 288 lots. On Thursday, futures closed £0.90 lower to £0.05 per tonne higher on sales of 1,311 lots. Dealers said prices steadied slightly during
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    • Article
      Hongkong comex
      266 8 HONOKONO, FYI. The cotton futures market closed mixed In continued quiet trading, dealers said. Commission houses switched nearby position to distant months, selling December and buying March delivery, they said. March and May rose 0.04 and 0.22 US cents respectively, while other months fell 0.03 to 0.29 cents.
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    • Article
      Soybeans
      138 8 CHICAGO, Frl. August soybean futures yesterday closed 10 1/2 cents a bushel higher while new crop months were down 0 1/2 to 3 1/2 cents. The August continued to derive support from the cash market but it lacked the strength which provided a limit gain on Wednesday and the
      138 words
    • Article
      Wheat
      82 8 CHICAGO, Frl. Wheat futures were narrowly mixed at the close yesterday, with prices Vk cent a bushel lower to Vt cent higher. The USD A survey team estimate of a reduced Soviet spring wheat crop and the difficulty In harvesting the Soviet winter wheat crop continued to support the
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    • Article
      Rubber price drifts lower day by day
      266 8 ON the Singapore and Malaysia rubber markets, little can be said of the weekly period to Aug 4 as prices edged lower dally in quiet and narrow trading, shedding some two cents In total. Lack of interest and holiday season factors seemed to
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    • Article
      Copper
      348 8 LONDON, Frl. Copper wirebars registered all round losses of £0.50. There was no feature during pre-market dealings where Three Months held at the £708 level. Subsequently, values drifted lower in the ring under stale bull liquidation and scattered hedge selling which took Three Months down to £702. The selling
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    • Article
      Silver
      211 8 LONDON, Frl. Silver finished with losses of 0.1 to 0.4 pence. After a steady opening, values drifted lower In thin trading with the trend In copper and the bullion dealer's fix dampening sentiment, dealers said. Three Months closed at 266.2 pence. Trading Interest was at a low ebb with
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    • Article
      Gold
      361 8 ON the Singapore gold market, the kllobar opened lower yesterday In dull and quiet trading. The price opened at SSI 1,515 and eased to a low of $11,500 before recovering to close at $11,515. The loco London market fluctuated narrowly from the opening of U*****.50/ 80. The market closed
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    • Article
      Lead
      78 8 LONDON, Frl. Lead closed with losses of mostly £1.50. The market held relatively steady despite the fall in copper with shortcoverlng from one quarter providing support, dealers said. Three Months finished the ring trading at £322 but softened on the kerb finally to £320. Sales were only 1,525 tonnes.
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    • Article
      Zinc
      79 8 LONDON. Frl. Zinc softened by mostly £1. Prices were marginally lower under lightweight hedge selling down to £314 for Three Months during modest ring and kerb dealings. The turnover was 1,050 tonnes. A modest fall in the LME stocks is anticipated this week, dealers said. On Thursday, zinc finished
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    • MONEY AND EXCHANGES
      • Article
        Singapore
        534 8 TRADING on the Singapore local money market was largely in the overnight counter which showed signs of continued firmness yesterday. From the opening of between six per cent and stt per cent, the rates moved up slightly in the morning after a large part of the business was done
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      • Article
        Minimum lending rates
        54 8 ACBC CH Firat Chicago Algernon* Bank CH Citibank CH Bangkok Bank 7 HSBT ik Bank of America CH Bank of Ckina 7 CH Bank of Tokyo CH Mitaui Bank CH Bank Nogara OCBC CH Indonesia 7 OUB CH Chartered Bank CH UCB 7 Ckaae ManhatUn CH UMBC
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      • Article
        Asian $ rates
        164 8 Asian rates ASIAN currency deposit Interbank rates as at close on Au« 5 US Mil in (Spat) 7days ,.i 1 mtt) 2 mths 3 mUu 6 mtha 9 mths 12 mths ..6 5/16 .6 1/16 .6 vie .6 7/16 .6 V16 .e va 9». Fn. 9 7/8 e vie 5
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      • Article
        Discount
        45 8 RANOE of prices offered by discount house* on Aug 5 Overnight 3* Call deposit 3* #*<■ 3-Month B«j ua( Treasury bills t 17/1 3-Month Banks Mils 4 1/B 4 3-Month CD 4 5/8 4 1/1 •-Month CD 4 3/4 49/16 Source: National Discount Co. Ltd.
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      • Article
        Euro $ rates
        129 8 Euro rates LONDON. Frl. Eurodollar deposit rates opened little changed from yesterday's closings and traded steady In continuing quiet conditions ahead of the weekend, dealers said. One Month was around 5/16 higher but other time deposits were virtually unchanged, dealers said. The fall In the U8 money supply figures and
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      • Article
        Treasury bills tender
        47 8 RESULTB of tender held on Aug 5 1977 for-91-day Treasury Bills to be issued from Bth August 1977 to 12th August 1977. Offered *20.000.000 Applied for: M 0 T70.000 Allotted 830,800.800 Accepted Blda 809.26 higher full. Average rate of discount on allotment 2.(90% pa
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      • Article
        New York
        140 8 NEW YORK, Frl. The dollar closed slightly stronger yesterday after a moderately active morning and a quiet, generally featureless afternoon, dealers said. Some operators bought dollars In anticipation of higher US bank prime lending rates, although analysts here do not expect any Increase from the present 6 3/4
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      • Article
        London
        211 8 LONDON, Frl. The dollar opened slightly easier around 2.2970/80 marks against its overnight 2.2985/95 In quiet trading, dealers said. Operators are holding back from taking large positions ahead of this weekend's finance ministers meeting In Paris on the Wltteveen facility. They noted at the same time Oerman Finance Minister
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      • Article
        Hongkong
        114 8 HONGKONG, Frl. The US dollar firmed slightly against the yen, mark and Hongkong dollar in quiet trading, following its rise in New York, dealers said. The US unit was quoted at a late 265.85/95 yen after topping 266 earlier and opening at around 265.65/75 compared with 265.53/67 in New
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      • Article
        Tokyo
        99 8 TOKYO, Frl. The US dollar for overnight delivery closed at 265.76 yen compared with the 265.70 opening and 265.968 at yesterday's close, after rallying to 266.17 at one point, dealers said. Initial strength followed spot and forward dollar buying by banks and traders for Import covering, but the US
        99 words
      • Article
        Australia/NZ
        54 8 AUSTRALIA/ NZ exchanges on Aug 5: AUSTRALIA: Sterling 0.6303/ 0.8324 US dollar 1.1083/ 1 1035 Ninety-day air mall buying rates Sterting 0.6544 US dollar 1.1396 Ninety-day forward buying rates: Sterling 0.6373 US dollar ***** NEW ZEALAND Sterling 0 5568/ 0.5557 US dollar 0.0767/ 0.9667 Ninety-day forward rate: Sterling 0.5752
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      • Article
        Zurich
        46 8 ZURICH exchanges closing quotes on Aug 4: US 2.4060-4060 UK 4 1875-1900 Can 2 2406-2430 W Germ 104.71-81 Netil 98.70-81 France 40.53-56 Belg 6 79%.-80S Denm 40.03-07 Norw 45.60-83 Swed 54.93-97 Italy 0.2731-2734 Austria 14.73-75 Port 6.25-27 Spain 2 83%-MS Arg 0 55-65 Japan 0.90K-90*
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      • Article
        Frankfurt
        48 8 FRANKFURT exchanges opening quotes on Aug 5: US 2 2955/ 85 Can 2 1436/ 55 UK 3.602/ 4.00 Neth 94 22/ 32 BwlU 95.38/ 48 Italy 2.801/ 09 France 47.26/ 33 Norw 43.49/ 57 Belg (com) 6 488/ 94 Belg (fin) 6.47/ 50 Japan 0 8638/ 48
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      • Article
        Eurobonds
        297 8 LONDON, Frl. Straight debt bonds held steady to selectively firmer in quiet trading, dealers said. Japanese convertibles traded point higher In places while US issues were steady. London Eurobonds opening quotes on Aug S: Straight* Bid Austria 8% 90 101V. Bell Canada 8 V. M 104% BPCE8V.83 102V. Bra*110H84
        297 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      172 8 i J* i a i rti MONTHLY ECONOMIC REPORTS With monthly political supplement for UP-TO-DATE HANDY REFERENCE s ASIA RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide tp the latest developments that have taken place in all important sectors of the economies of countries in East
      172 words
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  • Article
    Increase in Anro space is warmly received
    318 9 FROZEN sea food exporters In Singapore and Malaysia have welcomed the increased refrigerated capacity by the Anro Consortium which will be made available by the end of October this year. The service will be provided by three specially designed ro-ro container vessels and
    318 words
  • Article
    OTT takes delivery of Menelaus
    175 9 OCEAN Transport and Trading Limited has taken delivery of the 20,000 dwt cargo vessel Menelaus the first of a series of four ships being built by Mitsubishi Heavy Industries In Japan. These ships are being built as a substitute for two supertankers that BP Tanker
    175 words
  • Article
    Lock icon Leyland back as leading UK car maker
    305 9 Reuter AFP LONDON, Fri. British Leyland regained its position as leading UK car seller In July with sales of 17,929 cars to take 29.9 per cent of the market, preliminary Bodety of Motor Manufacturers and Traders figures show. This Is the first time
    Reuter; AFP  -  305 words
  • Article
    Orient Overseas Container Line
    418 9 ORIENT Overseas Container Line (OOCL) Is the most vigorous member of the C.Y. Tuna Group, considered one or the biggest shipowners and operators with a comprehensive merchant fleet of dry cargo' vessels, tankers, bulkers, ore/oil carriers, liquid petroleum carriers and vehicle carriers. Under the trade name
    418 words
  • Article
    Lock icon LONDON FREIGHT MARKET
    152 9 AP LONDON, Frl. Despite persistent dull conditions, the freight market recorded no dramatic rate downturns yesterday. The US Gulf-Japan grain rate, for instance, held fully steady when U559.25 (FIO) was taken by a 28,000-tonner loading in September 1-20 position. Other US Gulf grain Interest Involved the "Bpraynes"
    AP  -  152 words
  • Article
    IN PORT
    355 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Eumaeus (CXJOO after Molochamk) 3/4 Fortune Trader (3FCQ) il2oo after Monte Rlndo) 7/28 Grecian Temple (1300 after Vlshva Vlkas hauls) (Must head East) (Bulk Malse) 8/9 No. 1 Kendarl (0600 subject freeboard) 25/28 King Luck (0600 after Montes) 23 Loon Hslng (HPNO) (0700)
    355 words
  • Article
    Japanese new shipbuilding orders drop
    357 9 JAPAN'S mv shipbuilding orders last year totalled 1,773 billion yen (8916.5 billion) last year a four per cent drop from 1975. According to Jetro In Singapore, In groas tonnage for newbulldlngs, there was a drop of one per cent from 1975 last year. Japanese shipbuilders
    357 words
  • Article
    Lock icon Progress on Panama Canal talks
    199 9 AFP WASHINGTON, Ftt. The US State Department said yesterday that several Informal UB-Panamanian meetings were In progress and that actual negotiations on the future of the Panama Canal would "probably" resume next week. State Department spokesman John Trattner said that Panamanian Planning Minister Nicolas Barletta
    AFP  -  199 words
  • Article
    PIA plans for computer bookings
    176 9 PAKISTAN International Airlines Is to computerise its passenger reservations system within the next two years. An agreement to this effect has been signed in Karachi between PIA and KLM Royal Dutch Airlines for the Dutch airline to provide the Pakistani national carrier with a software
    176 words
  • Article
    Lock icon IRANIAN SUBWAY TENDERS
    91 9 AFP TEHRAN, Frl. The Tehran Metro Company Is considering tenders to build an underground railway here. A decision wUI be taken In two weeks' time. Eight Iranian companies and five Franco-Iranian firms are competing to bulkl the first section of about three kilometres, informed sources said. The
    AFP  -  91 words
  • Article
    Lock icon US car makers win delay
    240 9 AP WASHINGTON, PTI. The US Congress gave American car makers approval last night to begin manufacturing 1978-model cars without fitting them with advanced new pollution-control devices. The action apprently averted a production-line shutdown threatened by the US car Industry, which claimed It was technologically unprepared
    AP  -  240 words
  • Article
    Lock icon Big strike against Bell inevitable says union
    287 9 NYT WASHINGTON, PYI. A national strike against the Bell telephone system on Sunday "is now almost Inevitable," Olenn Watts, president of the Communications Workers of America said yesterday. A strike against the American Telephone and Telegraph Co. would Involve the CWA and two
    NYT  -  287 words
  • Article
    Untitled
    611 9 ARRIVALS Sintoc l Oparmtor Nwatar Tim CAL CQSS 0040 CPA CX00S 0145 MAS MH082 0010 CPA CX710 1000 CAL C1S14 1000 OIA QA900 1000 n TPE/HKO/KUL HKO KCH HLP HLP HLP C IIA QA900 1030 :i» j THAI TQ42S 1035 SIA SQS11 1045 OIA OA944 1065 OIA OAMO 1100 BKK
    611 words
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      260 9 The three bask needs and the thiee ports of Britamkn 3 1. To yet et the facts often a single feet eesity and quickly, without having to read a In-, ■lit I j| a m i— ICIv Ifi wrnlCfi wiai ••Ct IS ®TnD®OCWO. This head is served by the 10-voluma
      260 words
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  • Article
    Lock icon But US business wants more export incentives
    1058 10  -  CARTER SEEMS AGAINST DISC... *y THOMAS MULLANEY NYT NEW YORK: Unlike other leading Industrial nations, which depend so heavily on exports for their economic survival, the United States has not devoted much more than a minimal governmental effort over the years to facilitate
    NYT  -  1,058 words
  • Article
    Lock icon Strategy to loosen Opec's grip on petro-power
    969 10  -  By EDWARD COWAN NYT WASHINGTON: Sen. Frank Church and his staff on the Foreign Economic Policy Subcommittee have come up with a strategy for tipping the balance of petroleum power in the world against the 13-coun-try oil cartel, the Organisation of Petroleum Exporting
    NYT  -  969 words
  • Article
    Lock icon Bangladeshi bank
    82 10 LETTER TO THE EDITOR AFP WE draw your kind attention to a news item which appeared in Business Times dated Aug 1 in the "News in Brief column'', which said that the Pakistan Janata Bank which had gone bankrupt has been allowed to reopen for business. It is
    AFP  -  82 words
  • Article, Illustration
    Lock icon UK building sector finds a foreign connection
    1619 10  -  INDUSTRY PACING FUNDAMENTAL CHANGES By 1 MICHAEL CASSELL FT LONDON: The recession In the U.K. building and civil engineering sector, which began suddenly In 1073 and looks set to last for at least another 18 months, is now in danger of forcing fundamental
    FT  -  1,619 words
  • Article, Illustration
    Lock icon Japan strains to the sound of death
    545 10  -  By SEIICHI KANISE AFP TOKYO: Noise has become an increasingly serious everyday life social problem In densely-populated Japan. Officials fear It may trigger another wave of bloody manslaughters this summer. As more and more Japanese pour Into the cities and live In tiny,
    AFP  -  545 words
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      195 10 THE HAMLYN PICTORIAL ATLAS OF THE WORLD A modern and coinpreheriMve itia- fi is t ifidispen able both to students "i geography md to general reader.vtio want to understand the new economic and political shape of the world Here, for the fir t tune a con--1 re fascuiatuKj and authoritative
      195 words
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  • Article
    Lock icon Textiles may not get out of the doldrums
    480 11 Reuter AFP MELBOURNE, FrL Most countries axe experiencing a slack in textile activity because of the Northern Hemisphere holidays, coupled with anxiety about demand after the holiday season, the Australaln Wool Corp (AWC) aald. In lta renew of textile activity In the
    Reuter; AFP  -  480 words
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    Lock icon Paris may relent over Indian garment imports
    462 11 AFP NEW DEHLI, Frl. France Is likely to permit Indian garments lying at various ports to enter the country within a week, the Economic Times reported here yesterday. The Indian exporters have been having a very bad time with the French authorities as
    AFP  -  462 words
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    Lock icon Demurrage poser for Soviet ship
    267 11 UPI TOKYO, Frl. A shipping agent for a Soviet boat carrying the Australian sugar Involved a price dispute Is concerned where to send a demurrage bill, which is running up to some US$l5,OOO (8833,750) as Of today. A spokesman for Toyo Kyodo Katun said they
    UPI  -  267 words
  • Article
    Yards' bid
    37 11 A NUMBER of shipyards In Kallang are stepping up their marketing efforts in developing countries like Iran, Burma, West Asia and Bangladesh to promote more repair work here following the drop In business from Indonesia.
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    Lock icon Seoul may ask for more Tokyo aid
    180 11 AFP TOKYO, Frl. Japan may be asked to Increase economic assistance to South Korea at the ninth Japan-South Korea ministerial meeting to be held on Sept 5-8 In Tokyo. A Cabinet meeting today approved holding of the ministerial conference which was agreed upon
    AFP  -  180 words
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    Lock icon Join hands to cope with world disasters
    593 11 UPI WASHINGTON, PH. A blue ribbon panel, predicting that the Impact of natural disasters Increase measurably In the Immediate-years to cocne," called yesterday for better relief coordination and cooperation by intelligence agencies to cope with world calamities. A plan was suggested to handle
    UPI  -  593 words
  • Article
    J. ALLOYS' DRIVE
    123 11 JURONG ALLOYS, a local metal engineering firm, Is stepping up Its export drive as a result of Increased production after the completion of a M million expansion plan. The expansion has enable Jurong Alloys to produce steel and Iron castings In lta foundry where It previously {traduced
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    Lock icon French cars face threat
    302 11 Reuter AFP PARIS, Frl. The Japanese car industry Is a greater threat to French car makers in other European markets than In France Itself, the Paris Chamber of Commerce and Industry said. In a report on foreign commercial competition the chamber noted 80 per cent of
    Reuter; AFP  -  302 words
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    Lock icon More seek jobs
    96 11 Reuter TOKYO. Frl. Japan's seasonally adjusted June unemployment roee to 1.13 million from an upward revised 1.10 million in May. raising the adjusted unemployment rate to 2.06 K» cant of the workforce m an upward revised 2.08 per cent in May, the Prime Minister's Office said. Unadjusted,
    Reuter  -  96 words
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    Move to set up plant
    196 11 MATBUMOTO Klnsoku, a Japanese metal industries company, Intends to set up a 40 million ven (*****,000) factory in Singapore next year. The company will produce cans for the Singapore market as well as for the South-east Asian market, according to a Pananews report from Tokyo.
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  • Article
    ORDERS ARE ROLLING IN FOR SAWN TIMBER
    775 11 THE TIMBER Industry In Singapore Is picking up after a slow first half. The plywood mills on the other hand, after a steady six months, are now facing some uncertainties in their markets and do not expect business to gain momentum until October.
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  • Article
    DENTAL HEALTH BUILDING READY
    106 11 THE Public Works Department yesterday handed over to the Ministry of Health a recently completed $4.17 million building, converted from the former Olllman Officers' Meet at Alexandra Park, for the ministry's Institute of Dental Health. It has six storeys with a central courtyard and will be
    106 words
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    Blood meal for pigs
    80 11 THE Primary Production Department (PPD) has aet up a plant In Jurong to process pig's blood. The processed blood or "blood meal" Is fed to pigs at the Jurong and Kim Chuan Road abbatolrs. It Is understood the PPD hopes to sell this type of feed
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  • Article
    Behn Meyer is sole agent for Newey products
    258 11 THE Behn Meyer group has been appointed sole agents and distributor* of Newey Goodman products "in Singapore and Malaysia. The seven products to be handled by Behn Meyer are dressmaking pins, shirt pins, snap fasteners, hooks and eyes, safety pins, stationery pins
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  • Article
    Merchants exchange admits S'poreans
    131 11 MESSRS Thomas P.L. Lee and Francis Yow have been t ranted seats In the [erchant Brokers Exchange, an International association of brokers, agents and bankers based In London. As members, they will again access to the exchange's worldwide communications network, administered through London, In assisting businessmen
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    Lock icon Cashew farm
    50 11 AFP NEW DELHI, Frl. A cashew-growing model farm Is proposed to be launched In Tanzania with Indian cooperation, Informed sources here said yesterday. The sources said details of the proposed farm, whose produce would be Imported by India, were now being worked out between the two countries. AFP
    AFP  -  50 words
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      646 11 Hannii^Diviaoii^piPll Our client it a well-established and expanding Brunei based engineering company which currently employs more than 600 personnel and whose marine engineering yard is one of the largest in this region. Further expansion is planned and the company wishes to appoint a qualified civH or structural engineer to head
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  • SECOND ASEAN SUMMIT
    • Article
      Feasibility study of diesel project has to wait
      347 12 DETAILED feasibility studies on the Asean diesel engine project allotted to Singapore are not expected to begin until certain outstanding aspects of the project have been resolved. Singapore is believed to have come to the second Asean summit which closed yesterday in
      347 words
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    Watchword in joint communique is consolidation
    1087 12  -  ■y QUEK PECK LIM ASEAN heads of governments at the end of their two-day meeting In Kuala Lumpur yesterday Issued a tolnt communique which iroke no new ground and, in the spirit of consensus, left the difficult questions to be tackled at more detailed
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    Central bankers sign US$100m swap accord
    706 12 AN AGREEMENT between the central banks of the five Asean countries under which they agreed to set up a standby credit facility of US$lOO million was signed yesterday in Kuala Lumpur. Although the arrangement is in force until August next year, Mr. Michael Wong
    706 words
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    Muldoon arrives in Singapore
    241 12 NEW ZEALAND'S Prime Minister, Mr. Robert Muldoon, arrived here last night direct from Wellington. He was met at the airport by Enclk Rahlm Ishak, Minister of State (Foreign Affairs). He leaves for Kuala Lumpur today where he will be participating in talks over the weekend with
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    LONDON STOCKS
    573 12 LONDON, Fri. The stock market closed firm in moderately active trading. Oold shares weakened with the bullion price. U8 Issues finned and Canadians turned narrowly mixed. The Financial Times index at 3 pm was up 4.6 at 460.9. ICI, Flsons, Glaxo. GEC, Metal Bex and Uallever gained between
    573 words
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    Soviet embassy
    57 12 BUSINESS Times yesterday carried a news item from Kuala Lumpur by AFP which said: "The Soviet Ambassador to Malaysia, Mr. V.N. Bendrysher, was absent at the opening ceremony of the Asean Summit Conference here today." It has since been ascertained that the Soviet Embassy did send a representative
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  • Article
    Two PMs to thrash out uranium, sugar issues
    339 12 CANBKftftA, Fri. A wrangle between Japan aad AmnHa over sugar aad the aneetien of araaiuai uppliea far Japanese nuclear power plants art aprtad to dominate talks ia Kuala Lumpur at the weekend between Prime Miilrtaa Fraser aad Takeo Fukuda. The food and
    339 words
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    KL won't be caught by inflation again
    256 12 KUALA LUMPUR Frl, Although Malaysia's inflation rate could lncreast, It Is doubtful If the unprecedented rise In prices between 1972 to 1974 would recur, the Deputy Minister in the Prime Minister's Department, Dato Hail Othman Mn Abdullah told the Dewan Negara today. This
    256 words
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    Lock icon UK to boost garment exports
    174 12 AFP LONDON, Frl. Britain's Clothing Export Council Is to start a big campaign to boost sales abroad to more than £1,000 million (894,148 million) by 1980, It was learned here yesterday. Mr. Hans Jacoby, chairman of the council, said that It has planned to open
    AFP  -  174 words
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    Lock icon EEC, HK to hold textile talks
    138 12 Reuter HONGKONG, Frt. The EEC special representative for textile negotiations, Mr. Tran Van Thlnh, will lead a team of EEC officials In Informal talks here next week with Hongkong officials on the future of the EECHongkong textile agreement, a government spokesman said. Deputy director
    Reuter  -  138 words
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    Lock icon Shipping hegemony? Hardly say Soviets
    141 12 AFP MOSCOW, Fri. The Soviet Union today denied that It sought world hegemony In the shipping sector, and gave figures to back this up. Deputy Shipping Minister Anatoly Qoldobenko, replying to Western charges of hegemony In the magazine 'New Times'said that the USSR and its
    AFP  -  141 words
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    Straits Foods — a joint venture in animal feed
    329 12 Straits Foods a joint venture in animal feed STRAITS Foods, an Indian-Singapore Joint venture, has Invested $2.2 million In a plant to produce animal feed and crude palm kernel oil. The plant, sited in the north-east of Senoko, IS half-way through construction and is expected to begin production In December.
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      157 12 Singapore's Financial Dally Customer Services Bureau As a Business Times reader, yoU deserve the best. Your Business Times should be on your desk before you step into your office. If you like to read your Business Times at home, it should be on your door-step before you wake up. And
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      200 12 ~_<(%.+)?.)+__,^^:/>};',{\,]@$? SEE PAGE 11 Give us a man fora monthwell give him a language for life now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree
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