The Business Times, 24 November 1977

Microfilm: NL9610
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 THURSDAY, NOVEMBER 24, 1977. 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Hussein on defence
      36 1 KUALA LUMPUR, Wed. Prime Minister Datuk Hussein Onn said today Malaysia could not depend solely on the current defence arrangement with Singapore, Australia, Britain and New Zealand to ensure its independence and sovereignty.
      36 words
    • Article
      Lock icon Cheaper shut than open
      66 1 AFP LONDON, Wed. Some steelworks In Britain are likely to close down for two weeks at the end of this year owing to lack of work, the British Steel Corporation said today. It was cheaper to shut down plants than have them working under capacity, It
      AFP  -  66 words
    • Article
      Lock icon Trade record
      70 1 AFP MOSCOW, Wed. Two-way trade between the Soviet Union and Britain will reach a new record level of more than £1 billion (554.3 billion) this year. Lord Catton, chairman of the Morgan Grenfell Bank, was quoted by Tass, the Soviet news agency, as saying that British companies had
      AFP  -  70 words
    • Article
      Lock icon All clear
      31 1 AP. MOSCOW, Wed. The supersonic TU-144 Jetliner, delayed yesterday by weather for the second of its first four weekly passenger flights, took off today, the Civil Aviation Ministry said.
      AP.  -  31 words
    • Article
      Lock icon Truck venture
      34 1 Reuter. TAIPEH, Wed. Two leading US motor companies, Ford and General Motors, are negotiating with Taiwan on a joint venture to manufacture buses and trucks here, the Central News Agency reported. Reuter.
      Reuter.  -  34 words
    • Article
      Garment earnings
      36 1 MANILA, Wed. Philippines garment exports are expected to earn US$2BO million (***** million) this year, the president of the Garment Business Association, Mr. Alex Dizon said today. Last year, the Philippines earned $185 million.
      36 words
    • Article
      Lock icon For repairs only
      40 1 AFP. TOKYO, Wed. Japan has decided to permit Soviet fishing boats to enter Japanese ports only for repairs. At present, Soviet fishing boats are banned from entering Japanese ports except at the time of maritime peril. AFP.
      AFP.  -  40 words
    • Article
      Lock icon 6m in EEC jobless
      39 1 AP. BRUSSELS, Wed. Unemployment in the nine countries of the European Common Market hovered around the six million mark in October and its Statistical Office says seasonal adjustments may show a slight downward trend. AP.
      AP.  -  39 words
    • Article
      Lock icon Dow Jones
      50 1 UPI NEW YORK, Wed. Stocks were irregularly higher early today in active pre-Thanksgiving trading. Advances far outnumbered declines, 681 to 351, among the 1,495 issues crossing the tape in the early goinf. The Dow Jones industrial average was off 0.78 point to 841.83 shortly before 11 a.m. UPI
      UPI  -  50 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      185 1 MIXED conditions ruled in moderate trading on the Stock Exchange of Singapore yesterday. Hotel shares were highlighted and most counters set new highs on strong buying support. However, the day's active shares elsewhere turned lower as reflected in the 12.44 points fall in the Business Times index
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    • Article
      In Kuala Lumpur
      100 1 Rises Most active Inch Ken 2.50 +46 O. Ceramics 285.000 OU Ent. 1.26 20 O. Lumber 180.000 Talplng Con 3.00 +20 Pan Electric 96.000 Kramat too +15 Mega 96.000 H Royal 1.22 14 Total Turnover: 1.94M K.Kampar 3.46 +14 Total Value. M13.MM Kluang 1.96 +11 Berjuntal Castle
      100 words
  • Article
    Lock icon Japanese cabinet in for shakeup
    1051 1 TWO KEY MINISTERS MAY BE AXED Agencies. TOKYO. Wed. Prime Minister Takeo Fukuda will reshuffle his cabinet to deal with the runaway rise of the yen and trade disputes with the United States. Former Foreign Minister Kilchi Miyazawa, a politician popular with American officials, may
    Agencies.  -  1,051 words
  • Article
    Trade council raised again
    217 1 THE IDEA of a Trade Development Council for Singapore was again proposed last night by Singapore International Chamber of Commerce (SICC) chairman, Mr. H.H. Waetcke. The SICC's joint standing committee on commerce and industry should have exploratory discussions with the government on the proposed council so
    217 words
  • Article
    Our economy calm before the storm
    808 1  -  •y RONNIE LIM SO FAR, so good the Singapore economy is holding its own, although there may be rougher waters ahead in the form of growing protectionism, further price increases of crude oil and diminishing new investments. Mr. H.H. Waetcke, chairman of the Singapore
    808 words
  • Article
    SATU HITS OUT AT SIA SPOKESMAN
    336 1 THE Singapore Airline Transport Workers Union (SATU) yesterday rebuked a Singapore Airlines (8IA) spokesman for making "erroneous, Irresponsible and unethical" comments over overtime complaints raised by the airline cabin crew. SATU's general secretary Mr Phey Yew Kok. dismissed the spokesman's reported comments in the
    336 words
  • Article
    Lock icon Dollar crashes through 240-yen level
    243 1 Agencies. LONDON, Wed. The dollar today crashed through the 240-yen level, a new record low, while in Frankfurt, the West German central bank made an unprecedented effort to prop up the weakening US currency. The Bundesbank bought U*****.5 million (*****.2 million) an enormous intervention far
    Agencies.  -  243 words
  • Article
    Companies should tell more than is required
    635 1  -  •y SOH TIANG KING GOOD company disclosure means more than "the cosmetic exercise of merely representing in tabular or graphic form information required by statute," said chairman of the Annual Report Award Committee, Mr. Steven Tan Chee Chuan, last night. He was "not
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  • Page 1 Advertisements
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      41 1 AKAI L INSIDE Overaeaa New*/ TV ft Radio -P2 Overaeaa Newa/ Crosswords -PS Local Co. Newt -P4 International Co. Newt -PS Local Stocks -PS Overaeaa Stocks .P7 Commodities .pg Transport ft Communications -Pf Features .pit Local ft Overaeaa Newa -PU, ij
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      12 1 Harveys Bristol Cream. The best sherry in the world. vi? Eastern Agencies
      12 words
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      Page 1 Advertisements Column 3
      104 1 OKI U-S WnM* Moi Nrtonnone* CrwWng AM SEE BACK PAGE Daily to Bangkok X >1 J 1 «x ■3-T: 3LA^I Fight Hostess Linlec Haskam from Bangkok. Our afternoon service leaves Singapore every day at 4.05 p.m. You are in Bangkok at 5.45 p.m., in good time to check into your
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  • OVERSEAS
    • Article
      Lock icon US companies steer clear of Pretoria
      973 2 UPI NEW YORK, Wed. American companies are shying away from new Investments In South AfrH ca and this could hurt the racially troubled nation more than the newly imposed UN arms embargo. "People don't want to have anything to do with the South Africans,"
      UPI  -  973 words
    • Article
      Lock icon NEW RULES FOR U.S. FOREIGN FOOD AID
      102 2 UPI. WASHINGTON, Wed. The US government has ended a seven-week halt in its US$BOO million-a-year (551.92 billion) foreign food programme and resumed shipments under new rules for helping governments considered to have repressive human rights policies, officials said yesterday. Under the new rules,
      UPI.  -  102 words
    • Article
      Lock icon Shocked Polaroid cuts off shipments
      644 2 NYT NEW YORK, Wed. The Polaroid Corp has cut off all shipments to South Africa following disclosures that its distributor there was secretly selling film to the South African government in violation of a 1971 agreement, the company announced yesterday. Polaroid, which sells less than
      NYT  -  644 words
    • Article
      Lock icon Gulf Oil fined for giving free trips to auditor
      348 2 AP, Reuter PITTSBURGH, Wed. Gulf Oil Corp. wu fined U5536,000 (SS85.000) after pleading guilty to giving illegal trips to a US Internal Revenue Service (IRS) auditor in charge of the company's tax account. Gulf entered the plea on four of nine
      AP,; Reuter  -  348 words
    • Article
      Lock icon UK local authorities issues
      77 2 Reuter LONDON. Wed. UK local authorities have Issued their first short-term floating rate bonds. Two floating rate bonds were Issued, one for three years and one for five, both with a base interest rate of 6.35 per cent. For the three-year bond, Interest will be 5/8
      Reuter  -  77 words
    • Article
      Lock icon Now IMF seeks 50-100pc increases in quota
      329 2 Reuter PARIS, Wed The International Monetary Fund is now seeking very substantial quota increases In the range of 50 to 100 per cent. The Group of 10 deputies discussed the question of IMF liquidity needs but reached no decisions about steps to be
      Reuter  -  329 words
    • Article
      Lock icon Pay cut for UN clerical staff
      84 2 Reuter UNITED NATIONS, Wed. Non-professional UN staff In Geneva will have their pay cut by 17 per cent from Jan 1, Secretary General Kurt' Waldhelm said yesterday. He announced the cuts In the face of strenuous opposition by staff representatives and threats of a
      Reuter  -  84 words
    • Article
      Peru seeks loan
      42 2 LIMA, Wed. Peru is to seek an immediate USSIOO million (***** million) loan from international banks. Economy and Finance Minister. Alciblades Saenz Barsallo announced. Mr. Saenz said the $100 million loan will enable Peru to meet urgent financial obligations.
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    • Article
      Lock icon Political naivete lands accounting board in scrap
      891 2 NYT NEW YORK. Wed. In good part because of Its admitted political naivete, the Financial Accounting Standards Board finds itself in a fight to malritaln its unquestioned position as the private sector's top authority on accounting rules. The Standards Board is in a
      NYT  -  891 words
    • Article, Illustration
      Lock icon End to firemen's strike hinges on compromise
      425 2 UPI. LONDON, Wed. The Government Is working on a compromise pay offer to Britain's striking firefighters that might come close to meeting their demand for a 30 per cent wage Increase. With the walkout In Its 10th day. Cabinet ministers were considering a
      UPI.  -  425 words
    • Article, Illustration
      Lock icon Strikes and unions weaken confidence
      517 2 FT. LONDON. Wed. Strikes and the threat of union action were the main reasons for a fall In consumer confidence. The November survey carried out for the Financial Times by the British Market Research Bureau also shows that of the 1.026 people questioned. 33 per
      FT.  -  517 words
    • Article
      Lock icon OIL FLOWS AGAIN AFTER PAYMENT
      167 2 Reuter. ANKARA. Wed. Piped oil supplies to Turkey from Iraq have been restored after a week-long cut caused by delayed payments from Ankara. Energy Minister Kamran Inan said supplies had twice been cut because of delayed payments due to low foreign exchange reserves, but he
      Reuter.  -  167 words
    • Article
      Lock icon BRITISH MINIMUM RATE MAY INCH UP A LITTLE
      243 3 Reuter LONDON, Wed. A small rise In British minimum lending rate from Its present 5 per cent Is now likely In the near future. Financial market analysts said British money markets are nervous, with recent speculation on a lending rate rise prompting
      Reuter  -  243 words
    • Article
      Lock icon Average 7pc yield for notes
      71 3 Reuter WASHINGTON, Wed. The Treasury said Its U553.77 billion (558.94 billion) of two-year notes sold at auction attracted an average effective yield of 7.13 per cent. The treasury set the coupon rate at 7.125 per cent, making the average price 99.991. Prices ranged from 100.009
      Reuter  -  71 words
    • Article
      Lock icon Indonesia's LNG offer
      48 3 Reuter. JAKARTA, Wed. Japan is studying Indonesia's offer to sell more liquefied natural gas (LNG) from Its newly-built plant at Bontang. East Kalimantan. The offer was made by Trade Minister Radius Prawlro during a recent meeting in Tokyo with Japanese Prime Minister Takeo Fukuda. Reuter.
      Reuter.  -  48 words
    • Article
      Lock icon Modest price index climb encouraging
      671 3 Reuter, NYT. WASHINGTON. Wed. The White House Is extremely pleased by the increase of only 0.3 per cent in the October consumer price index. Deputy presidential press secretary Rex Granum said the modest rise means recent sizeable increases in personal income are being translated into
      Reuter,; NYT.  -  671 words
    • Article
      Lock icon Longer-term aid for NY
      247 3 Reuter. NEW YORK, Wed. US Treasury Secretary Michael Blumenthal, said future Federal aid to New York City has to be based on a long-term structure under which the city functions independently. He said after meeting Mayor Abraham Beame he will soon have to make proposals to
      Reuter.  -  247 words
    • Article
      Lock icon Call to end taxes on US finance houses
      105 3 Reuter. WASHINGTON, Wed. Congress should prohibit financial institutions being taxed in states where they do business but do not have offices, American Bankers Association told a Senate Banking Committee hearing. The ban is supported by the US League of Savings Associations, National
      Reuter.  -  105 words
    • Article
      Lock icon Commodity talks stall
      544 3 Reuter GENEVA, Wed. Third World negotiations here with rich countries on a proposed international fund to stabilise world commodity prices were seriously stalled and could be heading for a breakdown unless some development occur soon. Spokesman All Alatas of Indonesia, chief negotiator of the "Group of 77"
      Reuter  -  544 words
    • Article
      Lock icon Call for code to regulate subsidies to industries
      244 3 Reuter. LONDON Wed. A report published here today calfs for curbs against one of the ways In which countries tinker with their economies and interfere with free trade by granting subsidies to their Industries to boost exports and help them compete with
      Reuter.  -  244 words
    • Article
      Lock icon Plans for economic recovery failing
      830 3 U S. AND ALLIES ADMIT NYT. PARIS. Wed. The United States and Its principal industrial allies acknowledged yesterday that their previously agreed plans for reversing the worldwide economic slowdown are falling. After two days of discussion. high economic officials from the US and other Western
      NYT.  -  830 words
    • Article
      Lock icon France awaits cue
      392 3 Reuter PARIS, Wed. France Is unlikely to reflate Its economy before the March parliamentary elections. Economic and Business sources said that in the absence of an expansionary lead from Germany and Japan, any attempt by France to spend its way out of difficulty would lead to a
      Reuter  -  392 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      124 2 INTERNATIONAL BANK OF SINGAPORE The experts in financing of international trade International Bank of Singapore Ltd., established through a partnership of four of Singapore's leading banks DBS, OCBC, OUB and UOB offer full banking services in the field of international banking and trade. With the resources and expertise of its
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      258 2 RADIO SINGAPORE 5 3.00 PM Opening announcement followed by the Beverly Hillbillies Collard Greens and Fatback (repeat) 3.30 Diary of Events (Chinese) 3.35 Eight Heroes of Shou Lin (repeat) 4.20 Intermission 6.00 Opening announcement followed by Lassie Little Jim 6.30 News in Brief 6.35 Warna Warni (Malay repeat) 7.05 The
      258 words
    • Miscellaneous
      Page 2 Miscellaneous Column 2
      52 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 pm on Nov 23 at Singapore airport. Maximum Temperature 30.7° C Associated Humidity 73 Minimum Temperature 23.4° C Associated Humidity 99 Hours of Sunshine 3.80 Rainfall in Millimetres 4.6 Total Rainfall for the Month 312.6 Total Rainy Days for the
      52 words
    • Miscellaneous
      Page 2 Miscellaneous Column 3
      27 2 Bc/vly Bor "Ve. let*Rs iwis Bird fwd mysetr MPHE A fn£fiM*lGFoi Oei-RTtONSMIP 'Grfve OJEf?, *x, U**»TS -SO Know UMRT'S Goimg on TMK Hsettv >im£ Htf® or m»jc
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      580 3 THE TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS One taking a meal? (6) Opposite of love philtre? (8) Something to drink in during training (4) Produces useful effects (8) Do wrong for a bad motive Shoot In the stomach (3) Bloomers In the wars (5) The horse trotted round the ring (4)
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  • COMPANY NEWS
    • Article
      Falling output hits Gopeng
      577 4 RISING tin prices especially during the six months to September 1977 failed to bolster the full year's earnings of Oopeng Consolidated as the company's tin output has been declining since 1972. At £2.6 million, estimated group profit before tax and exchange adjustments for the year ended
      577 words
    • Article
      DIVIDENDS ANNOUNCED
      338 4 Current Ex Data Tata! for fatal to payment Date payaWe the year previous year HK Land 2.4%I Oct 19 Nov 24 2.4% 6.6% Con Plant 85% Oct 14 Nov 25 120% 80% Malayan Banking 11 Nov 7 Nov 26 17%% 17%% Oriental 6%I Nov 6 Nov 30 6%
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    • Article
      LATEST RESULTS
      65 4 METAL BOX Bhd group pre-tax profit M 53.55 million ($2.48 million) on sales of $20.45 million ($25.03 million) for the first half-year ended Sept 30, 1977. Estimated taxation $1.65 million ($1.22 million), leaving after-tax profit of $1.91 million ($1.22 million). Interest of outside shareholders in subsidiary $76,000 ($44,000)
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    • Article
      People in business
      71 4 MR JEFFREY ONQ has been appointed marketing director of Tour Holdings International. He will be based at the company's headquarters in Singapore. Mr Richard Glynn has ceased to be a director of Veneer Products Ltd. He remains, however, as the company's general manager. Mr. Tan Choon Joo
      71 words
    • Article
      Late news from United Holdings
      343 4 UNITED Holdings, which has kept Its shareholders In the dark about Its financial affairs for the past three years, has finally pre sented Its accounts for the year ended Oct 31, 1975. Even then, shareholders have nothing to cheer about for the group has incurred
      343 words
    • Article
      Profit at Pengkalen jumps 66 per cent
      346 4 PENGKALEN. a BritishIncorporated tin mining company operating in Perak, has reported a 66 per cent Jump in estimated pretax profit to £373,500 for the year ended Sept 30 1977, thanks to higher tin price. However, the company warns that unless the tin price
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    • COMPANY MEETINGS
    • Article
      Lock icon AT & T denies checks on its opponents
      913 4 AT T denies checks on its opponents NYT I WASHINGTON: A four-year-old American Telephone and Telegraph Co document appears to Indicate that the Bell System Is performing background checks on some of its opponents In state rate cases but the company says It Isn't. AT and T officials say the
      NYT  -  913 words
    • Article
      CHICAGO BOARD OPTIONS
      1190 4 November 22 TRADING In options on the Chicago Board Options Exchange came to 128,200 shares compared with 84,007 million shares on Monday. OPTION JAN APL JLY STOCK Alco* Alcoa AlCO* Alcoa Am Tel Am Tel Am Tel Am Tel AUR AUR Avon Avon Avon Bank Am Bank
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    • Article
      Lock icon Scotch whisky in the mood for recovery
      491 4 FT LONDON: The £40 million bid by Seagram for Olenllvet Distillers to some extent reflects the recent change In the mood of the Scotch whisky Industry as It has passed from recession back to the prospect of steady expansion once more. Admittedly, many
      FT  -  491 words
    • Article
      Sungei Bagan pales in comparison
      291 4 SUNQEI Bagan Rubber (Malaya) has raised pre-tax S to fit for the year ended une 30, 1977 by 7 per cent to M 5488,613. However the improvement still lags behind the 10 per cent growth recorded In the previous financial year and Is hardly dramatic
      291 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      480 4 Business Management in Penguins «j| v The Debt Trap: Cheryl Payer The International Monetary Fund is the most powerful supra-national government in the world today. This book is about the efforts of poor nations to gain some control over their own economies and the role of IMF in frustrating these
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Fiat hopes to raise car production
      105 5 EUROPEAN COMPANIES Reuter FIAT SPA expects to raise 1977 car production to 1.35 million from 1.31 million in 1976, of which around half will have been exported. A company spokesman said domestic car sales are stagnant, with the exception of the 127, which is
      Reuter  -  105 words
    • Article
      Lock icon J and FB rights issue
      98 5 Reuter. JOHNSON and Firth Brown said it proposes a one-for-five rights issue at 50p per share to raise about £9.7 million. The issue will ensure adequate resources will continue to be available to finance any upturn in economic activity and other opportunities as they may
      Reuter.  -  98 words
    • Article
      Lock icon MARTELL ISSUES BOND
      83 5 Reuter. STE Martell et Cie is raising slightly over 108 million francs through a convertible bond issue carrying an 8.75 per cent coupon and redeemed in nine annual drawings between 1981 and 1989. The 370 franc nominal bonds issued at par will be convertible at any time
      Reuter.  -  83 words
    • Article
      Lock icon German firms borrowing heavily on Euromart
      356 5 Reuter. GERMAN companies are borrowing heavily on the short term sector of the mark-based Euromarket, adding to short term currency Inflows which have swollen the country's reserves over the past few weeks, banking sources said. The companies' use of relatively cheap Euromark credits was
      Reuter.  -  356 words
    • Article
      Lock icon Lower profit at ICI forecast
      194 5 Reuter. ANALYSTS estimate Imperial Chemical Industries third quarter pre-tax profit, due to be announced today, will be between £130 million and £140 million after exchange losses of between £5 million and £10 million. The estimates compare with a £149 million pre-tax profit in the third
      Reuter.  -  194 words
    • Article
      Lock icon Oil firms sign North Sea pact
      102 5 Reuter. SHELL UK and Esso Petroleum have signed participation agreements with the British government, which gives the stateowned British National Oil Corp (BNOC) the right to buy 51 per cent of their North Sea oil output, the UK Energy Department said. However, Shell and
      Reuter.  -  102 words
    • Article
      Lock icon Libya may raise loan
      92 5 ASIAN COMPANIES Reuter. THE Libyan-Arab Foreign Bank, based In Tripoli, Is considering raising a substantial Euroloan of around US$5OO million, although no decision has yet been taken, Euromarket bankers said. Preliminary soundings have been made among banks In the US and In Europe on the feasibility
      Reuter.  -  92 words
    • Article
      Lock icon Mitsubishi gets around curbs
      101 5 Reuter. MITSUBISHI Electric Corp said its US subsidiary, Melco Sales Inc of California, will begin colour television production from next February to get around curbs on shipments of Japanese-built sets to America. Melco will Initially produce 4,000 to 5,000 sets a month with more than 50
      Reuter.  -  101 words
    • Article
      Cable joint venture
      100 5 HITACHI Cable and the Japanese trading house Kane-matsu-Gosho have formed a Joint venture company in Manila with Phesco Inc of the Philippines to produce aluminium conductor steelreinforced cables In the Philippines for export and domestic sales. Hitachi said the new firm, Hitachi Cable Philip- pines Inc, is
      100 words
    • Article
      Lock icon Du Pont sues Pepsico, Hoover
      177 5 NORTH AMERICAN COMPANIES Reuter. DU Pont Co said It filed patent Infringement charges against Pepslco Inc and Hoover Ball and Bearing Co last week in the US district court in Wilmington, Delaware, charging infringement of a patent on biaxlally oriented polyethylene terephthalate (PET) bottles used
      Reuter.  -  177 words
    • Article
      Lock icon INTERNATIONAL NICKEL OFFER
      125 5 Reuter. AN offer In the Canadian market of about Csloo million of International Nickel Co preferred shares is expected early next week. Informed market sources said the shares will carry a $25 par value and up to four million shares are expected. According to the sources, there
      Reuter.  -  125 words
    • Article
      Lock icon Quebec Hydroelectric plans Eurobond
      97 5 Reuter QUEBEC Hydroelectric Commission plans to float a 150 million mark fixed 10year Eurobond, probably with a 6.25 per cent coupon and a 99 per cent pricing. Primary market sources said the issue carries a mandatory purchase fund under which five million marks per year can
      Reuter  -  97 words
    • Article
      Lock icon Mobil gets condensate
      74 5 Reuter. MOBIL Corp said Its refinery In Ferndale, Washington, received a shipment of the first condensate produced from Indonesia's Arun gas field in northern Sumatra. The 250,000 barrel shipment is the first return from Mobil's expected capital Investment of US$4OO million in Initial development of the Arun
      Reuter.  -  74 words
    • Article
      Lock icon Earnings at Toyo Kogyo to rise
      118 5 Reuter. TOYO Kogyo Co expects a 42 per cent rise In profit before tax and special items for the year ended Oct 31 to eight billion yen from 5.64 billion the previous year. Sales will rise 7.1 per cent to 630 billion yen from
      Reuter.  -  118 words
    • Article
      Kodak furlough
      58 5 EASTMAN Kodak Co said a two-week furlough programme will begin on Nov 28 for about 1,300 employees of its construction division at Kodak Park. Kodak said the furloughs were made necessary by deferral of some non-critical capital projects earlier this year. The division's employees include carpenters, machinists, parts
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    • Article
      Imperial Oil dividend up
      59 5 IMPERIAL Oil has raised its class "A" dividend to 22Vi cents from 21.6 cents and declared an extra of 1H cents. The company also raised its class "B" dividend to 19.125 cents from 18.36 cents and will pay an extra of 1.275 cents. The-divi-dends are.payable on
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    • Article
      TOTAL OIL
      46 5 TOTAL Oil Marine's £25 million 9Vi per cent sevenyear Eurobond has been priced at par, a spokesman for lead manager Banque de Paris et des Pays Bas said. A purchase fund may reduce the average life to 5.74 years if fully used, he said.
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    • Article
      Lock icon Japanese firms face threat of delisting
      351 5 AFP. TWENTY-TWO deficitridden companies face the possibility of having their stocks delisted from the Tokyo stock markets next year under tightened listing requirements taking effect on April 1, 1978, market sources here said. The new listing standards call for, among other things, the stock
      AFP.  -  351 words
    • Article
      Lock icon Banking venture starts business
      100 5 Reuter. A JOINT venture merchant bank between the Ste Generale of France and a number of South Korean concerns started business in Seoul on Tuesday with an authorised capital of six billion won. The Korean-French Banking Corp (KFB) is initially capitalised at three billion won, with
      Reuter.  -  100 words
    • Article
      Lock icon Shell unit signs contract
      66 5 Reuter. PECTEN Inc. exploration subsidiary of Shell Oil, has signed a contract with the Philippines Energy Development Board to do seismic surveys in offshore areas off the southern end of Palawan Island, board sources said. The surveys, In areas of the Balabac Straits just north of
      Reuter.  -  66 words
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      Page 5 Advertisements Column 1
      257 5 .551 -W •a 5 ,«> I ,-A ,tA '•A .3* .J& ."?•> .•?•> .?A /?•> .J* .tA ->>■'•A .«*v .-ife .V\ ."s•> ."£> <tA .3g\ .s►> ."tA ."s•> ."s►> .«»> .tA ."••> .'••> .«►>."*».*A .IA.-A .«»> .•s■> .«f\ .-••> ,«p\ .-s;a .ss\ .«f\ ."-A ."9\ .-••> .tA ."s>> .•?•> -tA
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  • Article
    Share Information Service
    2364 6 1*77 Hick Low Company Last Sale +OTGr's div Div c'vT Gr's y'ld Net P/E Vol C000) Day High Low SECTION ONE INDUSTRIALS 154 204 116 Hi 88* 206 160 246 418 146 134 166 58 212 57* 155 152 182 350 91 Acma Al com Allied Choc
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  • Article
    Transactions in Singapore
    1300 6 BID u4 offer print aAeUUy listed and buainaaa la u4 reported la the Stock Exchange af 3ta*apare yeetarday with the anaitir af ■hares traded ihom in hnirii la >®ts af 1,000 unit* unless otherwiae specified. All Time StttlaaeM Con tracts are quoted altar the ward "Sett." Bi«
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    In Kuala Lumpur
    1491 6 BID and offer price* officially listed and business in and reported to the Kuala Lumpur Stock Exchance yesterday with the number of share* traded shown in brackets in lot* of 1,000 unit* unle** otherwise specified. INDUSTRIALS Asms (1.428). AjinsmsU (2.128 2.308). Alcsm (1.748). 095' M W <0858
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  • Article
    Stock options
    81 6 STRIKING prices of the atock options officially Hated on the Stock Exchange of Singapore, the periods, bid and offer price* and business done yesterday, with the number of options traded shown in brackets. OUB (Dec. $2.60) (0.058 0.095). (March $2.60) (0.158 0.175). Sime Darby (Dec $3.40) (O.US). (March
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  • Article
    Unit trusts
    145 6 SINGAPORE UNIT TCJ8T INCOME BOND UNIT (HhMin' prtea hr Not M) (Cm i —1 p rioM) The Commerce 1.77 l.M INCOME BOND 1.08 1.14 The Saving Fund I.Ot 1.12 MARA BUMIPUTRA FUND 8'pore Prof Fund 0.84 0.M (MaaagaM' nlm i tor Not M) 8 pore Security First Bumlputra
    145 words
  • Article
    GOVERNMENT BONDS
    119 6 Rep Spore D Mark 7* 1082 (100,000) (101*B 102ft8) Rep Spore 6 1/2% 1083 (100.000) (IOOftB 101HS) Rap Spore 7 V 4% 1007 (100,000) (9958 lOOftS) 4 3/4* 1/5/70 (250,000) (100.30B) (6) 100.45 (2) 100.47 (2) 100.48 5 1/4% 15/10/70 (250.000) (100.85B) (2) 101.00 5 3/4% 1/8/78-80 250.000)
    119 words
  • Article
    CORPORATE BONDS
    166 6 B O T 8 1/2% 1081 (100,000) (100 MB 1018) BO T 7 5/8% 1084 (100,000) (978 97HS) l/T C B J 1982 (100.000) (08HB Credit Lyonnais Floating 1983 (100,000) (97H8 97ftS) DBS Converts 6 1/2% 1001 (100,000) (96M8 96*8) D B S 8 1/2% 1982 (100.000) (100B100MS)
    166 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, Illustration
    HOTELS IN LIMELIGHT
    676 7 MIXED conditions ruled in moderate trading on the Stock Exchange of Singapore yesterday. Hotel shares were highlighted and a few new highs for the year were recorded as most of these counters forged ahead on strong buying support. However, profit-taking towards the close reduced the gains of
    676 words
  • Article
    KLSE ENDS MIXED
    380 7 AMID A background of uncertainty caused by Magnum Corporation's boardroom crisis, prices moved erratically to close mixed on the Kuala Lumpur Stock Exchange yesterday. Trading was initially hesitant as most traders stayed clear of the market. But It picked up as the afternoon close drew near with
    380 words
  • INTERNATIONAL STOCKS MARKETS
    • Article
      Hongkong
      341 7 HONOKONO: The market firmed slightly in thin, subdued and featureless trading, dealers said. The Hang Seng index rose 2.30 points to 424.67. Hutchison rose five cents to 3 025, Hongkong Bank 20 to 18.40, Jardine Matheaon 10 to 13.40 and Wheelock 2.5 to 2.45. Hongkong Land and Swire Pacific
      341 words
    • Article
      Tokyo
      10 7 THE TOKYO market was closed for Labour Thanksgiving Day
      10 words
    • Article
      Sydney
      433 7 SYDNEY: Share prices closed lower on speculation the opposition Labour Party may win the Dec 10 general election, dealers said. The Svdney All-Ordlnarles Index fell 3.36 points to 432.52 points. Among leading Industrials. CSR fell 12 to $2.71 and retailers and banks lost ground. Bank of NSW fell 12
      433 words
    • Article
      Manila
      148 7 MANILA: The market closed mixed with mining and oil averages up while commercials declined, dealers said. Turnover fell to 4.M million pesos from Tuesday's 5.84 million. Mining issues were mixed. Local Transasia rose two points and other oil issues advanced marginally. San Miguel lost three points but other commercials
      148 words
    • Article
      Bangkok
      116 7 NOV 23 Bahts Asia Fibre 300 30 Bangkok Bank 409 >14 Bangkok Invest. 388 +20 Bangkok-Metro-politan Bank 3410 -40 Bata 820 BerllJucker 590 >20 Charoong Thai Wire 343 +43 Dumex DusltThanl Faber Merlin First Trust 358 45 Genera Finance 384 Indo-Thal Industrial Finance Corp 2265 +100 J And J
      116 words
    • Article
      Amsterdam
      288 7 AMSTERDAM: AKZO led the market generally higher, gaining 0.70 guilders, dealers said. Hoogovens lost some ground ahead of Its third quarter figures to be announced soon, Shares with gains between one and two guilders Included KLM, Gist Brocades, Bijenkore and Ennia. Heineken and Robeco lost. State loans were easier.
      288 words
    • Article
      Brussels
      154 7 BURSSELS: Belgian shares were mixed in quiet trading, bourse sources said. Among shares to rise were Cobepa, VisUls Moatagne, Sofia*. Haiaaut-Sawbr*. Finoutromer, while Electrobel, ElectrafUa, Oabocq, St Rock and Arbed fell. In foreign stocks, Germans, UK and French feU, US rose, Dutch and Canadians were unchanged. Gold mines were
      154 words
    • Article
      Frankfurt
      311 7 FRANKFURT: The market closed generally up to two marks lower, despite a slight recovery In demand In later trading, dealers said. Leading chemicals and electrlcals were up to 1.50 marks easier, while Daimler led motors as much as two marks lower and banks and engineerings finished up to three
      311 words
    • Article
      Milan
      181 7 MILAN: Stocks were mixed in moderate trading, bourse sources said. Montediaion rose slightly, after a record low following last week's announcement of worsened group losses In the first eight months. Baatofi, a major shareholder In Montediaon, recovered slightly after a sharp fall on Monday. Snia Viacoaa and MonteAbre fell
      181 words
    • Article
      Paris
      340 7 PARIS: The market again moved lower, the first account day since end-may on which the market has lost ground. Electrlcals, engineerings, oils, stores and constructions fell while chemicals, led by Annul, were again a firm point in a generally depressed market. U8 stocks were well maintained, Oermans easier, golds
      340 words
    • Article
      Zurich
      307 7 ZURICH: The market was Irregular with a firmer bias, dealers said. Investors hardly reacted to continued dollar weakness against the Swiss Franc. In Irregular banks. Hypo Solothurn gained while Krediunttalt declined. Among financial. Oerlikon-Buekrle declined on profit-taking Elektrowatt, Interfood "B" and Scbindler Beatere Improved following Increased demand Insurances closed
      307 words
    • Article
      Jo'burg
      411 7 JOHANNESBURG: Gold shares drifted lower In quiet trading, reflecting lower bullion indications and a general lack of Interest, dealers ssdd. Losses In marginal and speculative issues ranged from five to 10 cents and In medium and heavyweight shares between 15 and 45 cents. Financial minings tended lower. De Beers
      411 words
    • Article
      Toronto
      320 7 TORONTO: Share prices closed broadly mixed In quiet trading. The 2.888.610 shares traded and Monday's total of 2,820.080 are the lowest volumes in several weeks, dealers noted. The Composite Index was up more than two points. But declines led advances by 200 to 175 Harlequin Enterpriaea shed H to
      320 words
    • Article
      New York
      1192 7 NEW YORK: Strength In shares Of International Business Machines spread to other high quality issues, providing the springboard for a sharp and broad-based stock market rally in busy trading. A number of factors combined to produce the upswing, market analysts said. Including good news from the inflation front.
      1,192 words
    • Article
      Indices
      61 7 FINANCIAL TIMES INDUSTRIALS Tuesday 471.8 Monday 47S.3 Week Ago 487.9 DOW JONES AVERAGE INDUSTRIALS Tuesday 842.52 Monday 838.11 Week Ago 842.78 LONDON DOLLAR PREMIUM Tuesday 100 to 100 Monday WW to 99% H.K. HANG SENG Tuesday 422.37 Monday 422.40 Week Ago 430.77 SYDNEY INDUSTRIALS Tuesday 380.58 Monday 383.18 Week
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    • Article
      Lock icon Profit at Kiwi soars 58pc
      198 7 Reuter. MELBOURNE, Wed. On a 25 per cent rise In gross revenue. Kiwi International Co lifted unaudited consolidated operating profit by 58 per cent from A 51.87 million to $2.95 million for the year ended Aug 31, 1977. Gross revenue was $56.52 million, up from
      Reuter.  -  198 words
    • Article
      Pay strike ends
      105 7 LONDON, Wed. A fiveweek pay dispute which has halted all output at General Motors Corp's UK subsidiary, Vauxhall Motors, has ended following a decision by 800 skilled men to return to work. A Vauxhall spokesman said a mass meeting at Ellesmere port near Liverpool on Tuesday voted
      105 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      513 7 BUSINESS TIMES Airline Directory Aer of lot Soviet Airlines 110-112 Show Centre, Orchard Rood, Singapore 9 (Tal: 377.111) Air Cayton 302-B, 3rd Floor, Marina House Shenton Way, Singapore (1) (Tal: *****08) Ground. Floor, ICS Building, Shenton Way Singapore 1 (Tal: *****11) Air India 16th Floor, UIC Building, Shanton Way, Singapore
      513 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      LOCAL AND FOREIGN RUBBER MARTS
      428 8 THE Singapore rubber market opened 0.25 cent higher yesterday, following .Tuesday's afterhour steadiness, but eased back marginally on lower London advices. Towards the morning close, prices returned to opening levels on shortcovering interest. Volume was small. The morning session closed quiet, with December RSS One
      428 words
    • Article
      Closing prices
      25 8 Rubber: Nov 23 Singapore: December 204.00 cents (unchanged) Malaysia: December 204.25 cents (unchanged) Tin: 11,785 >50) Official offering: 171 tonnes (down 134 tonnes)
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    • Article
      RAS PRICES
      350 8 R A S. prices In cents per kilo yesterday: Noon Close (per kilo) (per kilo) Buyers Sellers Buyers Sellers Int. 1 R.S.S prompt f.o.b. 203.50 204 50N 203.50 204 50N Int. 1 R.S.S. Dec 1977 204 00 204.50 204 00 204.50 Int. 1 R.S.S. Jan 1978 205.25 205.75
      350 words
    • Article
      SSR AND SMR
      116 8 NOON SSR and SMR prices yesterday: RAN Daoaahv (Current Mth) (Fa January rward .Mth) Buyers Sellers Buyer* Seller* (cent* **rk«) (o ;nt» per kg) SSR 20 (1—ton pallet) 198 00 200 00N 199 00 201 00N SSR SO (1—ton pallet) 195 50 197.50N 190.50 198 50N M.R.E.L.B.
      116 words
    • Article
      Sugar
      261 8 LONDON, Wed. Terminal sugar finished the first call up from Tuesday night by £0.20 to £.060 per tonne with outsider buying providing modest support in generally thin trading. The London dally price for raw sugar rose £2 on tone to £103 per tonne while whites were £1 up at
      261 words
    • Article
      Produce exchange
      472 8 THE arrivals of large quantities of copra and pepper contributed significantly to the generally steady conditions at the Singapore produce market yesterday. Traders had a good opportunity to stock up on tnelr supplies with 390 tonnes of pepper reaching here from Sarawak and 300 tonnes of copra from
      472 words
    • Article
      Hongkong comex
      383 8 HONGKONG, Wed. Sugar futures closed firmer on commission house shortcovering towards the close, followed by stoploss buying by local speculators. Trading was moderately active, with March and May up U50.31 and 09.36 cents respectively while other months rose 0.22 to 0.28 cents. Total turnover rose to 93 lots
      383 words
    • Article
      Palm oil
      65 8 C.I.F Rotterdam. US dollars per ton. LONDON: Tuesday Prfvioui Malaysia 5% ffa bulk Jan/Apl unch 455 sir Sumatra 5% ffa Nov unch 500 sir Dec unch 445 sir Jan 457 50 sir 440 sir Feb unch 447 V, slr/440 pd March unch 442 50 pd Nigerian 5% ffa
      65 words
    • Article
      Coffee
      288 8 LONDON, Wed. Coffee futures opened £21 to £2 per tonne down from Tuesday. 168 lots were traded and the official tone was "steady." Dealers attributed the easier tendency to a lower New York market, and a continuation of Tuesday's late downturn In a quiet and featureless market. Coffee futures
      288 words
    • Article
      Straits tin
      258 8 THE Straits tin price In Penang yesterday rose M 350 to $1,785 on an official offering down 134 tonnes to 171 tonnes. The market recovered following strong buying demand from Japan and US dealers, encouraaed by higher London metal prices. In LONDON yesterday tin rose £110 for cash
      258 words
    • Article
      Cocoa
      334 8 LONDON, Wed. Terminal cocoa opened £8.50 up to £8 lower In turnover of 383 lots which Included 127 self trades. Trading took place In only the first four positions at the opening. Some buying was attributed to the drop in Bahla cocoa arrivals In the week to Nov 20,
      334 words
    • Article
      Rice
      204 8 BANGKOK, Wed. Indicative price* for rice quoted today: (US dollar* per tonne fob bull Bangkok): White Use: 100 pet Ist cltu 319. 100 pet 2nd 306, 100 pet 3rd 2M, 5 pet». 10 pet *70, 15 pet M 7. X) pet 204. 23 pet 257 35 pet una. Brakes:
      204 words
    • Article
      Soybeans
      159 8 CHICAGO, Wed. Soybean futures continued their decline yesterday finishing at or near the day's lows with losses of US 14 1/2 to six cents a bushel. Technical selling after the market's recent advance and liquidation ahead of the holiday were the major price depressants, with hedge selling contributing to
      159 words
    • Article
      Wheat
      123 8 CHICAGO, Wed. Wheat futures posted losses of US 4 1/4 to seven cents a bushel yesterday, closing around the day's low points. Liquidation and speculative selling pushed prices lower as traders took profits or followed the declines In soybean and corn futures. Commercial action, In fair to outstanding amounts,
      123 words
    • Article
      Copper
      359 8 LONDON, Wed. Copper wlrebars finished the morning with gains of mostly £2. Dealers said a steady tone was maintained throughout the morning on shortcovering and fresh buying prompted by the New York close, higher gold and reports of an earth termor In Chile. On the pre-market, pricing sales pared
      359 words
    • Article
      Silver
      191 8 LONDON, Wed. Silver gained 2.3 to 1.9 pence per troy ounce. The steady New York close and a turn round in gold encouraged small short-covering up to 265.0 pence at the start of ring dealings. Profit-taking soon developed however, and the position drifted to close the kerb at 264.4
      191 words
    • Article
      Gold
      400 8 THE kllobar In Singapore opened at SI 11.969, yesterday and rose to 5512,000 immediately after opening. The market closed higher at 8112,037. In the London market, the metal opened at U*****.35/ 60 and closed at U*****.15/ 35. The London morning fix was U*****.50, up $2.35 from the previous fix.
      400 words
    • Article
      Lead
      80 8 LONDON, Wed. Lead was basically unchanged from previous closing ring levels. The market was steady in sympathy with copper but trading was fairly routine. Three months traded up to £354 in the ring, but the large turnover of 5,150 tonnes was mainly carries. On Tuesday, lead closed €4.75 per
      80 words
    • Article
      Zinc
      83 8 LONDON, Wed. Zinc rose CI for cash and £0.50 for three months. The metal continued to find underlying fresh buying support around the £300 level for three months, although hedge selling and profit-taking emerged near the close, dealers said. Sales of 1,400 tonnes were boosted by carries. On Tuesday
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    • MONEY AND EXCHANGES
      • Article
        Singapore
        479 8 THE FOREIGN exchange market was very quiet yesterday. Reports that the Japanese Prime Minister, Mr. Takeo Fukuda, has agreed to reduce Japan's huge trade surplus against the US. had little Impact on the market. No major currencies saw any really active trading except for sterling, which opened at 81.8215/
        479 words
      • Article
        Minimum lending rates
        46 8 ACBC 7 6'i Al|emM Bank 7 Citibank 7 Bu|kok Buk HSRT 7 Bank of America IndMUM 7 Bank of China 7 Malayan Banking 7 Bank of Tokyo 7 Bank Nann Intnmla OCBC OUB 7 UCB 7 Chaae Manhattan UMBO 7 DBS UOB 7
        46 words
      • Article
        Asian $ rates
        138 8 Asian rates ASIAN currency rates u ti close a deposit interbank n No* 32 USIMlan(8»at) 7day» 1 mth 2 mtlu 3 mtlu 6 mth* mth* 12 mtlu •°fr a/a 7/8 .T 5 V16 ■77/M .7 1/1 BU 1/2 1/4 a 2/4 4 7/B 5 3/16 7 ft/l« 7 3/8 Sw.m.
        138 words
      • Article
        Discount
        47 8 RANGE of price* offeree house* on Nov 23 Overnight 2* to Call deposit S* to 3** by discount CMB« BW HN Month Treasury Mils J- Month Bank Mils 3-Month CD 6- Month CD 3W 4 13/16 31/16 91k 3* 411/16 S19/16 9% Source: National Discount Co
        47 words
      • Article
        Euro $ rates
        131 8 Euro rates LONDON, Wed. Eurodollar deposit trading was quiet with rates Tittle changed as the Friday dealing technicality, which was brought forward .yesterday due to tomorrow's US Thanksgiving Day holiday, is still effective today, dealers said. Business on rollover account Is ejected to be quiet as operators c«uld have completed
        131 words
      • Article
        Treasury bills tender
        51 8 THE Monetary Authority of Singapore invites banks and discount SosM to tsndsr for: (a) $30 million 91-day Treasury bills to be Issued from Nov 28 to Dec 2 (b) 910 million 182-day Treasury bills to be Issued on Nov 28 Bach tender must not be less than
        51 words
      • Article
        London
        194 8 LONDON, Wed. Sterling eased slightly from U551.8175/ 85 to around $1.8154/ 59 In subdued early trading here. Though the pound has been under some pressure, stemming from fears over a rise in short term British Interest rates and continuing concern over the wages front, some dealers expect the British
        194 words
      • Article
        New York
        140 8 NEW YORK, Wed. The dollar closed weaker In quiet trading ahead of tomorrow's Thanksgiving holiday here. A 0.3 per cent rise in US October consumer prices had little Impact, with the dollar's downward trend due mainly to continued concern about the U8 trade deficit outlook, dealers said. Sterling
        140 words
      • Article
        Hongkong
        144 8 HONGKONG, Wed. The US dollar closed lower at 240.00/ 15 yen In quiet trading, with Tokyo closed, compared with the overnight New York close of 240.45/ 55 and an opening 240.10/ 20, dealers said. The mark closed lower at 2.2325/ 35 against the dollar compared with New York's mid-point
        144 words
      • Article
        Australia/NZ
        58 8 AUSTRALIA/NZ exchanges quoted on Nov 23 AUSTRALIA US dollar 1 1329/1 1281 Sterling 0.6244/0 6174 Ninety-day air mall buying rate*: Sterling 0 8370 US dollar* 1 1014 Ninety -day forward buying rale* Sterling 0.61(0 US doNar* 1.1280 NEW ZEALAND Sterling 0 5610/0 5480 US dollar 1 0036/0 0036 Ninety-day
        58 words
      • Article
        Zurich
        50 8 ZURICH exchanges closing quotes on Nov 22 US 2.1*46-1064 UK 3.0773-0007 Can 1 0773-0786 W Ocnn 08 .10-18 Netll 80 97-01 04 Prance 46 24-28 Belg 6.23-1/2-24 1/4 Denm 36.81-84 Nor* 40 24-26 Swed 46.78-81 Italy 0.2602-2604 Austria 13 76-1/4-77-1/2 Port 6.38-41 (Spain 2.06-66-1/2 Arg 0 40-50 Japan 0.0117-27
        50 words
      • Article
        Frankfurt
        41 8 FRANKFURT exchanges opening quotes on Nov 23. US 2 2330/40 Can 2 006/025 UK 4 062/002 NeUl 02 62/72 SwlU 101 72/82 Italy 2 545/560 Prance 46.02/12 Norw 40 08/41 08 Belg com 6.346/365 Belg fin 6.34/35 Japan 0 0260/0305
        41 words
      • Article
        Eurobonds
        393 8 LONDON, Wed. Straight Eurobonds In the Eurodollar sector held steady despite the weakness of the dollar on exchanges, dealers said. Activity was moderate. In first time dealing, the Total Oil Marine's £25 million 9* per cent bond, due 1984 and priced at par, opened around 99% 99% then dropped
        393 words
      • Article
        Tokyo
        12 8 THE Tokyo Horn market was cleeed yesterday for Labour Thankaghrtag Day.
        12 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      315 8 Penguin i U IN PENGUINS Yukio Mishima firmly upheld the traditions of Japan's imperial past, which he believed were being slowly eroded by Western materialism. Disillusioned he astonished the world* in 1970 by committing hara-kiri or ritual suicide by disembowelment. One of his last works. Runaway Horses, is now published
      315 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon NY greets Concorde with a warm welcome
      490 9 Reuter NEW YORK, Wed. After more than a year of legal battles to keep Concorde out of New York, officials welcomed the supersonic Jet's first commercial landing here with open arms. "As far as the State of New York is concerned, this is
      Reuter  -  490 words
    • Article
      Gulf Orient Express Service
      256 9 GULF Orient Express Service (GOES) is the first direct container service to be introduced between the Far East and Singapore and the West Asian Gulf ports. The first self-sustaining container vessel, Hans Krueger, arrived in Singapore in August last year to commence her maiden voyage to
      256 words
    • Article
      Lock icon You can hire Qantas jumbo jets
      298 9 UPI SYDNEY, Wed. Qantas, Australia's national flag carrier, has its fleet of Boeing 747 Jumbo Jets available for hire at about As6oo (551,615) per hour and business Is booming. Sydney businessman Dick Smith began the trend early this year by hiring them for day
      UPI  -  298 words
    • Article
      Lock icon U.S. WON'T SUPPORT CABLE PLANS
      103 9 AP WASHINGTON Wed. The US Federal Communications Commission refused yesterday to back plans to lay another communications cable under the Atlantic Ocean. The commission agreed with its staff by a 6-1 vote that there Is already sufficient capacity on cable and satellites for a reliable
      AP  -  103 words
    • Article
      Lock icon Air fares cut is suicidal
      426 9 WARNING FROM AEA UPI, Reuter NEW YORK. Wed. A British airline executive warned yesterday the "new fares rat race on North Atlantic routes is suicidal" for airlines and eventually will work against the interests of the traveller. Mr. Adam Thomson, chairman of the airline British
      UPI,; Reuter  -  426 words
    • Article
      DO NOT POUR OIL ON WATER
      265 9 THE European Economic Community (EEC) commission has been urged to make segregated ballast tanks obligatory on all oil tankers trading within EEC waters. Such a requirement will not only be a safeguard against marine pollution, but will also benefit shipowners and shipbuilders because the
      265 words
    • Article
      Far East Freights
      919 9 RECENT activities featured affreightment contracts for a few hundred thousand tons for government tenders. It appears that freight rates In the tramper trade have reached the bottom. It is anticipated that more and more old tonnages will be scrapped. Vessels open 6180 dwt built 1972 speed 11.5
      919 words
    • Article, Illustration
      IN PORT
      383 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Astra Peak (after Tat Chin) 47 Mars Bell (EIJM) (0700 after Chen Fong (req. Portslde to) 19 Neptune Beryl (1200 after Ramona Kalemyo (Subject freeboard) 29/30 Neptune Topaz (after Frotasantos) 45 Tenryu Maru (BJUM) (2300 after Orchard Gold) 40/41 Trsat (0600 after Oamzat
      383 words
    • Article
      Lock icon Lower tonnage from Japanese yards
      162 9 Reuter. AFP. TOKYO, Wed. The Ship Exporters Association reported 20 vessels totalling 273,000 gross tons, were ordered from Japanese yards in October against 20 totalling 305.700 in September and 53 totalling 641,500 in October last year. Dollar denominated orders rose to 28 per cent of
      Reuter.; AFP.  -  162 words
    • Article
      Lock icon London freight market
      182 9 AP LONDON, Wed. Chartering continued at an idle pace on the London freight market yesterday with no obvious change In rate patterns. But a worrying feature was deterioration In the volume of time-charter business on which the market has depended for support for some weeks. North American
      AP  -  182 words
    • Article
      Two-day strike
      40 9 PARIS, Wed. Pilots and flight mechanics of the French state-owned Air France airline yesterday announced a two-day strike next Sunday and Monday. The stoppage is In protest against working conditions and the management's refusal to hire more staff.
      40 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      632 9 V ARRIVALS Ser Operator Nun rice Local aber Time From CPA MAS MAS OIA. CPA SIA OIA OIA PAL RBA OIA SIA SIA THAI MAS MAS CX003 MH601 MH682 GA980 CX710 SQ209 GA944 GA908 PR501 BI325 GA982 SQ240 SQ201 TG413 MH684 MH651 0145 HKO 0715- KUL 0810
      632 words
    • Article
      Lock icon UK's $495m Polish deal
      231 9 AP. GLASGOW, Wed. Britain announced yesterday that shipyards at Glasgow and Newcastle would do most of the work on a Justconcluded deal to provide Poland with 22 cargo ships and two crane barges. Mr. Michael Casey, managing director of stateowned British Shipbuilders Ltd., said that he
      AP.  -  231 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      144 9 nusimunn mOUSTRHt Eourman Reliability, performance, quality of production and value for money, that's how Australian industrial equipment and machinery have gained increasing sales in world markets. The range is wide. "From press brakes, guillotines, packaging machinery and materials handling equipment to pumps, machine drills, electric motors, welding equipment, wood working
      144 words
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  • Article
    Lock icon Why UK won't repay the IMF just yet
    1874 10  -  FINANCIAL IMPROVEMENT RECOGNISED By PETER RIDDELL FT THE TALKS between UK Treasury officials and an Internatfonal Monetary Fund Inspection team now going on in London are rather less of a formality than it might appear, given the major improvement In the British
    FT  -  1,874 words
  • Article
    Lock icon NEW YORK'S MAYOR FACING SAME OLD PROBLEMS
    1398 10  -  By ARTHUR SPEIGELMAN Reuter. NEW YORK CITY has a new Mayor.but the same old problems. In fact, the problems appear more obstinate than ever as the city's MayorMeet, US representative Edward Koch, prepares to t&ke over City Hall on Jan. 1. Mr. Koch
    Reuter.  -  1,398 words
  • Article, Illustration
    Lock icon Canadian steel industry still in the black
    1537 10  -  By RODERICK ORAM FT CANADA'S major steelmakers are among the handful of weakened but still profitable survivors of the current turmoil In world steel markets. Protected by their longstanding strategy of building only enough capacity to meet normal demand rather than peak or
    FT  -  1,537 words
  • Article
    Lock icon Business blind to resentments
    716 10  -  Br ELIZABETH FOWLER NYT NEW YORK: Consumers are not happy about business, and yet business does not appear to be overly concerned about It, two recent surveys indicate. The surveys Imply that business is operating in the dark, not seeing consumers as they really are and
    NYT  -  716 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      138 10 The Love of ookinfl 0 I > Kenneth i a. v'^'k Kenneth Lo, the well-known Chineee cookery writer, introducea the reeder to the technlquea of kIiIAAA juu|L||y| Ag| UUIjbVA unin«M cooiing, »n<3 givN an into lr>#lf unique way of eating. Beginning with •fcnpto onediah main coureoe. ho proarasaM through popular
      138 words
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  • Article
    Lock icon Philippines expects 7pc growth next year
    623 11 AFP, UPI MANILA. Wed. The Philippine economy registered a real growth rate of 6.3 per cent during the first half of this year. Economic Planning Secretary Oerardo Sicat in a speech before local businessmen yesterday said Inflation rate during the same period was 8.7
    AFP,; UPI  -  623 words
  • Article
    Lock icon Good tin finds reported off Malacca, Seremban
    245 11 AFP IPOH, Wed. A very encouraging find of mineral deposits has been reported in the off-shore areas between Negri Sembllan and Malacca. The Deputy Minister of Primary Industries, Mr. Lew Sip Hon, said here last night that the mineral deposits were found about
    AFP  -  245 words
  • Article
    Book prize for top IBF student
    86 11 MISS Loo A 1 Chee of Hongkong and Shanghai Banking Corporation is the top student in the Institute of Banking and Finance (IBF) Stage One examination held In October this year. She will be awarded a $50 book prize. Of the 299 students who
    86 words
  • Article
    Tien Wah plans expansion to meet overseas orders
    387 11 A LOCAL printer, Tien Wah Press Pte. Ltd. is the latest printer to benefit from government incentives to printers expanding in order to cope with overseas orders. The company plans a $4.5 million expansion to boost its export capability, reports the latest
    387 words
  • Article
    Lock icon Asia should broaden economic base says Thai minister
    291 11 Reuter, AFP BANGKOK. Wed. Agriculture and industry must be developed side by side and industrial development integrated with agricultural development. Industry Minister Kasem Chatikavanich said yesterday. Speaking at the opening of a meeting of senior officials from 22 countries, Mr. Kasem said
    Reuter,; AFP  -  291 words
  • Article
    Lock icon Strike called off
    90 11 Reuter. TOKYO. Wed. Employees of Japan's International Telephone and Telegraph Company (KDD) today called off a strike they launched yesterday after accepting the management's offer of year-end bonuses. The management offered an average of 650,000 yen (556.370) against the union's demand for 850,000 yen. Meanwhile, the National
    Reuter.  -  90 words
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    Lock icon Japanese steel has competitive edge
    1074 11 AMERICAN MILLS OUTMODED AP TOKYO, Wed. The American steel industry's drive to set up minimum prices for steel imports, especially for Japan's products, cannot change one basic fact: the Japanese can make steel cheaper. That opinion of the planned "minimum fair pricing" regulation by a
    AP  -  1,074 words
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    Lock icon Japan to increase annual import of China oil
    473 11 Reuter. TOKYO. Wed. The committee for promoting longterm trade with China has decided to increase the annual oil import from China to 11 million tonnes by 1982 compared to an earlier target of 10.32 million tonnes. The revised figure, Kyodo News Service
    Reuter.  -  473 words
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    Lock icon Plan to ease Chinese power shortage
    244 11 AFP. PEKING, Wed. China plans to develop its small local power stations to reduce the country's electrical power shortage. In an editorial today, the Chinese Communist Party paper. People's Daily, called for the developing of small power stations using local resources such as rivers,
    AFP.  -  244 words
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    Lock icon TACHAI SHOWPIECE: WHERE TO DRAW THE LINE
    1163 11 FT. PEKING. Wed. The road from Yangchuan station to Tachai, in the north of China's Shansi province, Is being widened and hectares of the only naturally good flat agricultural land In the barren hilly region have been used up. The reason is that
    FT.  -  1,163 words
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    Lock icon Treasury probes steel wire dumping
    200 11 UPI WASHINGTON, Wed. The Treasury Department yesterday began antidumping investigations on imports of steel wire strand from Japan and India. A complaint filed by five American companies last month said the steel wire strand used in pre-stressed concrete was being sold in the United States
    UPI  -  200 words
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    Dearer colour pix on new Kodak paper
    248 11 SEVERAL photographic shop* in Singapore have raised the price of colour photographs printed on a new kind of Kodak paper, 74 RC. They now charge 30 cents per 74 RC print, and 25 cents for prints using non-Kodak paper. Previously, these shops charged
    248 words
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    Lock icon Two ship builders in Taiwan team up
    161 11 UPI TAIPEH. Wed. The China Shipbuilding Corp. (CSBC) and the Taiwan Shipbuilding Corp. (TSBC). two of Taiwan's 15 state enterprises, will merge in January. A CSBC spokesman said the move is to develop Taiwan's shipbuilding Industry and avoid competition between the country's only
    UPI  -  161 words
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    Lock icon Food a main goal
    65 11 AFP ROME, Wed. Selfsufficiency in food is one of the main goals of the Philippine five-year plan starting in 1978, Mr. Jose Leldo, Junior Minister of the Philippine Department of Natural Resources said here. "We must build on the farmers' perceptions of their sltaution," he added
    AFP  -  65 words
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      195 11 APPOINTMENTS ADMINISTRATIVE OFFICER required by shipping company Qualifications:- Degree/diploma in administration or near equivalent. H.S.C. of high standard will be considered. Good command of written English. One year or longer working experience. Annual pay inclusive of bonus: $1 1,000 $15,000 commensurate with ability. Only qualified persons with a keen sense
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    ITT to set up local plant
    490 12 THE International Telephone and Telegraph Corporation (ITT) registered a new Singapore company on Oct. 28, International Telephone and Telegraph Singapore. This will be ITT's first investment here. The project now awaits the flnallsatlon of plans and details with the Economic Development Board (EDB). Meanwhile,
    490 words
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    Australian resource bank details $51m issue
    256 12 THE Australian Resources Development Bank (ARDB) announced yesterday the details of its $51 million bond issue, the first such issue to be listed on the Stock Exchange of Singapore by an Australian bank. The five-year note issue was made in two tranches on Nov
    256 words
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    Lock icon Thais cut securities trading margin
    111 12 Reuter. BANGKOK, Wed. The Securities Exchange of Thailand (SET) has cut the margin requirement for securities trading to 30 per cent from 40 per cent, SET sources said. The lower margin requirement effective yesterday resulted In the recovery of most shares after a week of
    Reuter.  -  111 words
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    Import controls will decrease Sony sales
    536 12 IMPORT controls Imposed by the US, combined with saturation of the Japanese domestic colour TV market, will account for the most significant change in Sony Corporation's sales this year. Sony's managing director, Dr. Heltaro Nakajima. told Business Times this in Singapore today. Sony's sales
    536 words
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    FEFC raises currency adjustment factor
    215 12 THE Far Eastern Freight Conference (FEFC) announced yesterday that the currency adjustment factor (CAF) for freight rates from Singapore and Malaysia will be increased from 9 per cent to 12 per cent with effect from Dec 1. This amendment is the result of recent fluctuations
    215 words
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    BA Concorde sets its sights far and wide
    540 12 THE Joint Concorde service between Singapore Airlines (SIA) and British Airways (BA), operating between London and Singapore, may well be a model for further expansion of Concorde services to new destlnatibns around the world. Speaking on the BA Concorde during the inaugural
    540 words
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    A deserving Hume makes off with the top prize
    342 12 HUME Industries (Far East) walked off last night with the top prize for this year's Annual Report Award, for the fourth time in a row. Hume, which received its prize from Senior Minister of State for Education, Mr. Chal Chong Yll
    342 words
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    World's oldest reinsurance firm opens branch here
    461 12 THE OLDEST reinsurance company in the world, Cologne Re, opens a branch here tomorrow. With its opening, there will be nine reinsurance companies In Singapore. The others are Singapore Re and Copenhagen Re which are locally Incorporated, and three branches of foreign reinsurers,
    461 words
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    LONDON STOCKS
    714 12 LONDON, Wed. Government bonds closed higher and equities mostly lower 4n quiet trading, dealers said. At 3 p.m. the Financial Times Index was down 1.2 at 470.6. Bonds added up to 3/8 point after recording rises of up to 3/4 in early trading. Disappointing half yearly results from
    714 words
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    Lock icon EEC to open trade talks with China
    620 12 Reuter, AFP BRUSSELS. Wed. Common Market foreign ministers yesterday agreed that the Community should open negotiations with China on a non-prefe-rential trading agreement which would link nearly a third of mankind. British Foreign Secretary David Owen said the ministers yesterday empowered the EEC
    Reuter,; AFP  -  620 words
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    Lock icon Hongkong resumes talks without preconditions
    510 12 Reuter BRUSSELS, Wed. The European Common Market and Hongkong have resumed textile negotiations, with the EEC Commlsslon determined to reduce Hongkong's exports and the British colony deeply concerned about the possible effects of this on its economy. Hongkong's Director of Trade and chief textile negotiator,
    Reuter  -  510 words
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    Lock icon Philippines signs sugar pact
    119 12 AFP UNITED NATIONS, Wed. The Philippines is the first to sign a new agreement to regulate the world sugar market. The agreement was put together last October at a UN sugar conference held th e aus Plces of the UN Conference on Trade and Development (Unctad)
    AFP  -  119 words
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    Lock icon Hotel at Seoul resort
    103 12 UPI. SEOUL. Wed. A 100-room modern hotel will be built at Mount Sorak by the end of next year to attract more foreign tourists to the scenic resort on Korea's east coast. Government officials said the hotel will be built in a 50-50 joint project between
    UPI.  -  103 words
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      333 12 Banks Financial Institutions in Singapore YEARBOOK 1977 Our annual profit* on Singapore's financial community is now on cat# For the second year. it provides a qualitative analysis of tha developments which hava taken placa in the various sectors of the industry from commercial banking to factoring included this year is
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