The Business Times, 8 December 1976

Microfilm: NL8962
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 1455/76 WEDNESDAY, DECEMBER 8, 1976 .50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Carter to visit China?
      67 1 UPI BOSTON, Tues President-elect Jimmy Carter has received through private channels, an Invitation to visit Communist China as soon after his inauguration as possible, according to an exclusive story in today's Boston Herald American. The Newspaper quoted key Democratic Party officials as saying that the invitation
      UPI  -  67 words
    • Article
      Lock icon Urgent matters
      56 1 UPI MANILA, Tues President Marcos announced today that the Legislative Advisory Council will meet on Dec 17-18 to take up urgent political, economic and security matters. The session will be the second since the 127member Council composed of Cabinet secretaries and hand-picked representatives of the martial law-created citizens
      UPI  -  56 words
    • Article
      Lock icon Top economic editor
      70 1 UPI TOKYO, Tues. Mr. Raul Locsin, editorpublisher of the Philippine business dally Business Day, has been named the first winner of the award for Asian economic editor of the year 1976, the Press Foundation of Asia announced today. The announcement said "under the guidance of Mr. Locsin,
      UPI  -  70 words
    • Article
      Lock icon Thanin to visit Jakarta
      51 1 Reuter JAKARTA, Tues. Thai Prime Minister Thanin Kraivichien is expected to arrive here on Friday for a three-day visit to Indonesia, informed sources said today. Mr. Thanin will hold talks with President Suharto and Foreign Minister Adam Malik on matters of mutual interest, including regional issues.
      Reuter  -  51 words
    • Article
      Malik in KL
      44 1 KUALA LUMPUR. Tues. Indonesian Foreign Minister Adam Malik arrived here today for a twoday informal visit to Malaysia. Mr. Malik will inaugurate the new Indonesian Embassy building here and visit Singapore on his way home, Foreign Ministry sources here said today.
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    • Article
      Lock icon Soviets deeper in the red
      67 1 UPI MOSCOW, Tues. The Soviet Union's trade deficit with Western industrialised nation's rose more than 13 per cent from the second to the third quarter of this year and passed the US$3 billion (557.35 billion) mark, according to offcial statistics released today. The figures appeared
      UPI  -  67 words
    • Article
      Lock icon Built by Mitsui
      53 1 AP TOKYO, Tues. Mitsui Engineering and Shipbuilding Co. said today it has delivered a 74,406 dwt bulk carrier to A-b rnor Dahl of Norway. The carrier, christened as the Thorsdrake, is 239 metres long, 32m wide and 19.7 m deep and has a maximum crusing speed of
      AP  -  53 words
    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Tues. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 965.92, up 4.15; 20 transp 231.46, up 0.45; 15 utils 104.61, up 0.41; 65 stocks 314.39, up 1.15. UPI.
      UPI  -  44 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      167 1 THE Stock Exchange of Singapore yesterday ended on a mixed note. Price movements were narrow. The Business Times index rose 2.21 points to 244.93 while the Straits Times Industrial average was 0.58 point higher to 245.72. Rises Most active Mura U 1180 SeLangor Dredg 360 Setron 153
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    • Article
      In Kuala Lumpur
      113 1 Rises Most octive Sime Darby 93.32 .10 Haw Par 121,000 Boustead 93.40 .06 Slme Darby 81,000 New S T.P. 93.90 .06 Central Sugars 68,000 M. Banking 96 30 .05 General Lumber 51 000 O.C.B.C. CandC Perils Plant Tlmuran Tractors D.B.8 U.O.B. 97.75 ...91.99 91.24 ...91.29 93.20 93.74
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  • Article
    OCBC will abstain at Sime poll
    1376 1  -  BANK VIEWS ROW AS ORDINARY INVESTOR By QUEK PECK LIM THE Oversea-Chinese Banking Corporation will abstain from the poll vote to be held In Kuala Lumpur on Dec 10 to decide the composition of the Slme Darby Holdings board. This was announced in a
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  • Article
    Threat to S. Asia living standard
    437 1 SOUTH Asia could suffer a serious decline in living standards relative to the West unless developing countries in the region improve the climate for foreign investment and agopt a less ambiguous attitude towards multi-national companies. This is the view taken by a leading Swiss
    437 words
  • Article
    HON: OIL INDUSTRY TO CHANGE TACK
    560 1 SINGAPORE'S oil Industry will be taking a new direction, said Finance Minister Hon Sul Sen yesterday, and In the late seventies and early eighties, the Republic will be witnessing an even greater degree of sophistication and product diversification in the industry. The oil Industry
    560 words
  • Article
    Builders may have to train workers
    236 1 BUILDING contractor* may in the future be required to provide training facilities for their worker* if they apply for block work permit*. Labour Minister Ong Pang Boon aaid this last night in urging Singapore contractor* to cultivate a more professional attitude towards their workers
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  • Article
    Decisive win — that's PAP's hope
    351 1 Decisive win that's PAP's hope KUALA LUMPUR, Tim. The People's Action Party, which has been in power in Singapore for the past 17 years, hopes to win and "win decisively" the general elections scheduled for Dec 23, Mr Lee Kuan Yew said here today. The Singapore Prime Minister who was
    351 words
  • Article
    S'pore, KL reaffirm Asean commitment
    429 1 SINGAPORE and Malaysia yesterday reaffirmed, their full commitment to Asean and agreed to accelerate the Implementation of the decisions taken at Ball by the Asean governments, especially the establishment of preferential trading arrangements and industrial development. In a Joint statement Issued by the two governments
    429 words
  • Article
    Lock icon $37m LOAN FOR MANILA
    94 1 UPI MANILA, Tucs. The Asian Development Bank (ADB) approved today a USSIS million (5536.8 million) loan for a second Irrigation project in Davap Del Norte in the southern Philippines. An ADB announcement said the project area is one of the relatively least developed in the Philippines
    UPI  -  94 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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    • Advertisement
      Page 1 Advertisements Column 2
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    • Advertisement
      Page 1 Advertisements Column 3
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  • OVERSEAS
    • Article
      Lock icon A pressing problem — no papers for third time
      264 2 A pressing problem no papers for third time Reuter PARIS, Tues. France went without most of Its newspapers today for the third time In five days as the Government tries to negotiate the end of a 20-month-old press conflict. The popular dally Parlsien Libere has become the symbol of a
      Reuter  -  264 words
    • Article
      Lock icon Cordial chat
      31 2 AP TOKYO, Tues. Chinese Communist Party Chairman Hua Kuo-feng had a cordial conversation In Peking yesterday with Vietnamese Vice Premier Do Muoi, the official Hslnhua News Agency reported .-AP
      AP  -  31 words
    • Article
      Lock icon Banking on the truce in Lebanon
      386 2 Reuter BEIRUT, Tues. Big Western bknks are opening their doors again in Beirut as confidence grows in the civil war truce. Looters, who plundered branches of the foreign banks during the 19-month Lebanese conflict, hauled away cash, bonds, travellers' cheques and jewellery estimated to
      Reuter  -  386 words
    • Article
      Lock icon Peasants give Portillo his first challenge
      187 2 Reuter MEXICO CITY, Tues. More armed peasants today demanded the breakup of big estates in northern Mexico, presenting the first major challenge to President Jose Lopez Portillo's conservative government. Officials in Culiacan, capital of Sinaloa state, said reinforcements joined the well-defended peasant encampments there.
      Reuter  -  187 words
    • Article
      Lock icon US will discuss loan
      81 2 Reuter WASHINGTON, Tues. Secretary of State Henry Kissinger said the United States is ready to discuss a request from Italy for financial aid. After a luncheon meeting at the State Department with Italian Prime Minister Giulio Andreottl. Mr. Kis- singer told reporters the United States is
      Reuter  -  81 words
    • Article
      Lock icon ALASKAN OIL PIPELINE LAID
      163 2 UPI ANCHORAGE, Tues. The entire 1,280 km. transAlaska oil pipeline is finally in place. The last section of 120 cm pipe was laid on Bunday in rugged Thompson Pass 32 km north-east of the terminal at the ice-free port of Valdez, the Alyeska Pipeline Service Co.
      UPI  -  163 words
    • Article
      Lock icon Cut reliance on oil, IEA urges US
      469 2 UPI BRUSSELS, Tues. The chairman of the International Energy Agency said yesterday an efficient conservation policy by the United States is vitally needed to reduce the industrialised world's burgeoning dependence on Imported oil. "In North America at the moment, the use of energy
      UPI  -  469 words
    • Article
      Lock icon Heath to defy vote order
      266 2 Reuter GLASGOW, Tues. Former Prime Minister Edward Heath has declared he will join a revolt in the Conservative Party against a voting order from the leadership. Opposition leader Margaret Thatcher and her "shadow" cabinet decided last week to instruct Conservative Members of Parliament to vote
      Reuter  -  266 words
    • Article, Illustration
      Lock icon THE OLD MEETS THE NEW
      36 2 AP WASHINGTON, Tue«. Secretary of State Henry Kissinger chats with Secretary of State designate Cyrus Vance (right) as the two men met yesterday at the State Department in Washington. AP radiopix.
      AP  -  36 words
    • Article
      Lock icon $.38 billion jump in consumer debts
      129 2 UPI WASHINGTON, Tues. Consumers increased their debts In October by U551,566 billion (513.8 billion), the largest Jump in three years, the Federal Reserve Board reported yesterday. The seasonally adjusted Increase In October compared with a $1.48 billion Jump in September and the volume of
      UPI  -  129 words
    • Article
      Lock icon CUT MEAT QUOTA CALL BY U.S.
      113 2 UPI WASHINTON, Tues. US negotiators began meeting with representatives of 13 meat exporting countries yesterday to try to persuade them to voluntarily restrict their sales of meat, mainly beef, to the United States. President Ford has directed the US negotiators to seek voluntary agreements
      UPI  -  113 words
    • Article
      Lock icon Dr. K's mission for Carter: The last trip?
      505 2 AP WASHINGTON, Tues. Henry Kissinger left today on what may be his last diplomatic mission as Secretary of State, carrying: a message of support for the Nato alliance to Brussels for President-elect Jimmy Carter. The message, given to Dr. Kissinger by Mr.
      AP  -  505 words
    • Article
      Lock icon Bonn's warning to Third World on 'untenable' UN resolutions
      444 2 AP BONN, Tues. West Germany, by far the biggest West European aid donor to the Third World, is warning developing states they risk German displeasure If they continue to support "untenable" UN resolutions. In remarks prepared for delivery to Arab League
      AP  -  444 words
    • Article
      Lock icon PICKING TOP UN MAN IN SECRET SESSION
      291 2 Reuter UNITED NATIONS, Tues. The Security Council scheduled a rare secret session today to choose the Secretary-General of the United Nations for the next five years, with the incumbent, Kurt Waldhelm, the firm favourite. But he faces at least one official challenger, former
      Reuter  -  291 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      101 2 Working Long Hours? Coffee Problems? Here Is Your Answer! 4 Check which of these are your hot drink headaches Time lost while drinks are made I Even more time lost sending out for them. Work disrupted by exodus to neighbouring cate Resentment over drink-making rotas. Complaints about stale and tepid
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      308 2 WEATHER report for 24 hours prior to 7.30 p.m. on Dec. 7 at Singapore airport: Maximum temperature 30.0 C Associated humidity 75 Minimum temperature 23.1 C Associated humidity 97 Hours of sunshine 5.30 Rainfall in millimetres 13.0 Total rainfall for the month 18.9 Total rainy days for the month 4
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  • Page 3 Advertisements
    • Advertisement
      Page 3 Advertisements Column 1
      214 3 MAGNIFICENTLY SITUATED BETWEEN C.K.TANG AND FfTZFATRICKS SUPERMARKET FACING MANDARIN HOTEL AND NGEE ANN BUILDING Site on 3 awes of prime land in Orchard Road! 24hr& non-stop action, parking facilities for over 700 cars! A golden opportunity to expand your business and enterprise. The Biggestall-in-one International Tourist Entertainment, Connnercial and Shopping
      214 words
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  • COMPANY NEWS
    • Article
      Reduction of HPBI's Cheung Kong stake
      255 4 HAW Par Brothers International says the group's stake in Cheung Kong (Holdings) of Hongkong will be reduced from 20.03 per cent to 16.5 per cent by the company's proposed issue of 20 million new shares of HK$2 each at $5.60 per share. Cheune Kong
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    • Article
      Slide continues for Renong Tin
      214 4 RENONG Tin, a UK incorporated tin company, continued to suffer from falling profits in the financial year ended June 30,1976. Against a drop of 26.8 per cent previously, pre-tax earnings fell some 46 per cent to £65,855. Although the company made a foreign exchange gain
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    • Article
      South Johore
      143 4 THE Kuala Lumpur Stock Exchange has asked South Johore Amalgamated Holdings for further details on its acquisition of a 75.6 per cent stake in Johore Motor Bus for Msl million cash. It would like to know the basis upon which the consideration was arrived at and the acquisition's
      143 words
    • Article
      Promising first half from Veneer Prod
      598 4 AS It hoped, the financial Ills Veneer Products suffered In the past three years appear to be behind It now. In fact, the group Is poised to produce a modest profit for the current year ending Feb 28, 1977. The first clear Indication Is
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    • Article
      UIC profit gets boost from detergent unit
      888 4 STEADY earnings from detergent operations largely accounted for the 85 per cent rise In United Industrial Corporation's group pre-tax operating profit to $7.35 million for the year ended July 31,1976. "The detergent company, UIC Chemicals, continued to be the main contributor to the
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    • Article
      Lock icon Further cutbacks for New York's transit system
      859 4 NYT NEW YORK, Tues. The roller-coaster financial fortunes of the New York City transit system as narrated by David L. Yunlch have lurched Into a new dip, requiring Immediate plans for further large cutbacks In service. Last July, Yunlch, chairman of the Metropolitan
      NYT  -  859 words
    • Article
      Lock icon Stalemate at Mt. Newman
      93 4 Reuter PERTH, Tues. The train drivers' strike at Mt. Newman Mining appears stalemated and a solution seems uncertain, a company spokesman told Reuters. The train drivers, who have prevented the shipping of Iron ore from the Mt. Newman mine to Port Hedland since Nov 7 agreed
      Reuter  -  93 words
    • Article
      DIVIDENDS ANNOUNCED
      409 4 Current Ex Data Total for Total for payment Data payable the year prvvboi year Talam Miaes 10% Not. 18 Dec. 0 10*+ 15* Rhrerriew 7* Nor. 23 Dec. 10 19*a 8.75*a M Banking 11.5* Not. 18 Dec. 11 17.5* 17.5* Niate. 7.5* Not. 23 Dec. 13 12.5* 17.5*
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    • Article
      George Kent higher despite midway slip
      330 4 DESPITE a five per cent slip In group turnover to M 59.43 million, pre-tax profit at George Kent (Malaysia) rose by 22.5 per cent to $912,000 for the first six months ended Sept 30, 1976. However, the company Is quick to add that "an
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    • LATEST RESULTS
      • Article
        Malayawata Steel
        45 4 MALAYAWATA STEEL Unaudited group pre-tax profit M 53.65 million ($1.33 million) for the first six months ended Sept 30,1976. Sales amounted to $40.63 million compared with $33.95 million previously. Company pre-tax profit $3.62 million ($1.24 million) on sales of $40.63 million ($33.95 million).
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      • Article
        Textile Corp
        43 4 TEXTILE CORPORATION OF MALAYA Unaudited group pre-tax profit M 5467,000 ($179,000) for the first half-year ended Sept 30, 1976. Sales came to $18.34 million against $14.35 million last time. Company pre-tax profit $253,000 ($194,000) on sales of $9.66 million ($6.28 million).
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      • Article
        Singapore Glass
        32 4 SINGAPORE OLASS Unaudited group pre-tax profit $300,000 ($594,000 loss) for the first six months ended Oct 3, 1976. Oroup sales $11.88 million ($lO million). Parent pre-tax profit $3,000 ($5,000 loss).
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      • Article
        Malaya Glass
        67 4 MALAYA OLASS FACTORY Pre-tax profit M 51.04 million ($276,811) for the year ended July 31,1976. Net profit $711, 464 ($60,069) after loss on sale, revaluation and scrap of fixed assets of $246,736 ($16,242), provision for taxation $500 ($500), provision for furnace rellnlng expenses nil ($200,000) and provision for
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    • COMPANY MEETINGS
    • Article
      ICI
      78 4 FRANKFURT, Tue*— ICI International Finance of Bermuda is raising a 10-year 100 million mark Eurobond probably with a 1V» per cent coupon and a par Issue price, a spokesman for lead manager Dresdner Bank said. He said the loan will have seven years of grace and then be redeemed
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    • Article
      CHICAGO BOARD OPTIONS
      1110 4 On December 6 PRICES were higher on the Chicago Board Options Exchange on Monday. Advances led declines 436 to 69. Volume approximated 75,714 contracts, up from 57,803 last Friday. OPTION JAN APL JLY STOCK Alcoa 45 UNTRD NOL NOL 53 to Alcoa SO UNTRD UNTRD UNTRD 53S
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  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      224 4 S, V smmi V* 12 > 534 Vivs b K H t) < *> W3r> *v Chivas Regal Scotland's prince of whiskies Another fine product brought to you by I (privata)ltd. «75 BUkll TIMAM RUAII. b m I SINGAPORE 111 TEL 6M9.U PO Box *****. KUALA LIMVIR TEL K645J TEXTILE
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Five ask for new futures contracts
      231 5 Reuter CHICAOO, Tues. Mr. Gary Beeven, a member of the Commodity Futures Trading Commission (CFTC), said the commission welcomes applications of commodity exchanges for new commodity futures contracts. Mr Beevers, In a speech to the international commodities conference, said the commission Is currently considering
      Reuter  -  231 words
    • Article
      Austrian bank's record profit
      197 5 VIENNA, Tues. Erste Oesterreichische Sparcasse, the second largest Austrian savings bank, reports a 17 per cent rise In the consolidated balance sheet total to an all-time peak of Sch.36 billion this year. Loans this year were up by 28 per cent to Sch.2o billion. The bank
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    • Article
      Guthrie
      55 5 LONDON, Tues. Guthrie Corp said it has closed its French subsidiary Texac. The 1975 operating losses have continued into 1976 and in the absence of a long-term prospect of viability there Is no alternative to closure, Outhrie said. The terminal loss, which will be substantial, will be provided In
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    • Article
      Lock icon UK Govt divided
      239 5 BP SHARE SALE Reuter LONDON, Tues. The sale of any part of the UK Government's stake In British Petroleum is likely to be opposed by the Energy Department, political sources said. They said the Department believes the cash return, which could be used to reduce the public
      Reuter  -  239 words
    • Article
      Denmark
      42 5 COPENHAGEN, Tues. Denmark has cut Its bank rate to 10 per cent from 11 per cent, the central bank said. The rate had stood at 11 per cent since Oct 5 this year when it was raised from 81/2 per cent.
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    • Article
      Lock icon US capital spending
      103 5 Rueter WASHINGTON, Tues. US plant and equipment expenditures rose to a seasonally adjusted annual rate of U*****.55 billion In the third quarter from $118.12 billlrn in the second, the Comme.ee Department said. The department said its survey of capital spending plans shows business ex- pects to increase
      Rueter  -  103 words
    • Article
      Lock icon Gulf Oil to explore Sinai region
      197 5 AP CAIRO, Tues. An American and an Italian oil concern have become the first companies to agree to explore for oil in areas of the Sinai Peninsula that Egypt has recovered from Israel, Egyptian oil offlcals said yesterday. Oulf Oil has agreed to spend
      AP  -  197 words
    • Article
      Lock icon Chemi returns to normal
      380 5 FT VIENNA, Tues. Cheml Linz, leading: Austrian chemical company, has entered a period of "normalisation" after the unusual boom year of 1974. This was one of the main points stressed by the Director-General Mr. Hans Buchner, in a survey about business during 1975-76. Fuelled by the
      FT  -  380 words
    • Article
      LNC profit continues
      273 5 LONDON, *ues. The trend of profitability established by Lombard North Central since March 31,1975 has continued and the year to Sept 30, 1976 shows a group profit, before tax and extraordinary items of £8.48 million, compared with a loss of £3.49 million for the previous year. At
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    • Article
      Lock icon Coca-Cola reports foreign payoffs
      207 5 AP ATLANTA, Georgia, Tues. Coca-Cola made about US$6OO,OOO In "questionable foreign payments" from 1971 through 1975, a company spokesman confirmed yesterday. The giant soft drink company said that amount included the $300,000 It admitted In October it had made. The larger amount was revealed in papers
      AP  -  207 words
    • Article
      Arbed
      27 5 BASLE, Tues. Arbed Finance's 80 million franc, 15-year, 5*4 per cent Swiss loan was over-subscribed at its issue price of 99.25 per cent, Schwelzerlscher Bankvereln said.
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    • Article
      Lock icon UK long tap stock
      137 5 Reuter LONDON, Tues. The UK Government's long tap stock, treasury 15-1/4 per cent 1996, was exhausted with the government broker supplying to the market at £98-1/4 per cent, dealers said. The stock, of which a nominal £600 million was issued on Nov 11 at 97-1/2 per
      Reuter  -  137 words
    • Article
      Lock icon Change for the better
      704 5  -  By TERRY GARRETT FT LONDON, Tues. Talking to fund managers last week I got the impression that more and more private Investors in equities are giving up In despair. Certainly the smaller shareholder is disappearing from the investment scene and this Is fully borne out in
      FT  -  704 words
    • Article
      Lock icon Accounting for inflation
      990 5  -  By ERIC SHORT FT THE main source of Information for Individual shareholders about the companies In which they hold equity Investment Is that contained In the annual report and accounts of those companies. Investors rely entirely on the company and Its auditors producing a "true and fair"
      FT  -  990 words
    • Article
      Lock icon Partying days are over
      687 5 SIA CONVENTIONS NYT BOCA RATON, Fla. Tuea. "It's far different now from what it was in my father's day. They used to come down here for a week and it's party all the time. Now it's for three days and there's a lot of work." The
      NYT  -  687 words
    • Article
      Lock icon Dividend restrictions
      785 5  -  By ROBERT COLLIN FT ALTHOUGH restrictions of one kind or another on the payment of dividends have been Imposed Intermittent for many years past, few if any politicians have sought to argue that they make financial or economic sense. Indeed, the Inherent nonsense of the idea has long
      FT  -  785 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      53 5 > "5 TO THE SINGAPORE CONSTRUCTION INDUSTRY i K N. K: ■V. tr R i <r Jl SffZfl AND SERVICED SINCE 1968 BY SM|) Ml) A memkii OF THE weaine Gioun CABLE. WEALCO TELEX: WEARNES RS ***** TEL: 655-744 (5 Linet) 3, GUL CIRCLE, P.O. BOX 233, JURONG TOWN POST
      53 words
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  • Article
    Share Information Service
    1916 6 nCTIONONE INDUSTRIALS 1»7« High Low Company Last Sale +«rGr'. Dhr c'rr (V. i" Net P/B Vel (too) Day High Low 175* 200 100 237 1M 402 204 248 460 137 135* 172 60 185 66 254 149 172 394 39 Acma Alcom Allied Choc Bata Ben Boustead
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  • Article
    Transactions in Singapore
    906 6 BID and offer price* officially llated and business In and reported to the Stock Exchange of Singapore yesterday with the number of chases traded shown In brackets In lots of 1000 units unless otherwise specified. All Time Settlement Contract* are quoted after the word "Sett." Blc Board
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  • Article
    In Kuala Lumpur
    1074 6 BID and offer print officially listed and business in and reported to the Kuala Lumpur Btock Exchange yesterday with the number of shares traded shown in brackets In lots of 1,000 units unless otherwise specified INDUSTRIALS A|tW—wU (1.788 1.888). Alaaat (2.118 2.148). AIM. MaM (0.728 0.858). A.M.D.
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  • Article
    Unit trusts
    119 6 SINGAPORE UN7T T*U8T IMuam'pHoihrDKl} The Commerce 1.66 1.16 The Saving Fund 0.02 0.97 S port Prof Fund 0.76 0.63 8'pore Security Fund .1.25 1.33 B'port Invest Fund 1.00 1.06 ASIA UNIT TKU8T (Mmaacm' prim* for Dae 6) SSHS"JSSf.:::::Ui J.S MaI Security Fund 0.61 0.66 BertanPund 0 93 0.66
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  • Article
    External currency bonds
    91 6 OT 8 1/2* 1061 (100.000) (102HB 102*8) PJ 8 8 1/2* 1082 (100,000) (M*B 100*8) PJB 8 Convert* 8 1/2* 1001 (100,000) (06*B 07SB) 102*8)* (100 000) C1«*B EI B 8 1/4* 1063 (100,000) (008 88*8) I B J 8 1/2* 1001 (100,000) (100 *B 1018) Kepnel
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  • Article
    Domestic govt bonds
    81 6 5 1/** 1/12/77 (1,000,000) (101.558 101.658) 5 1/2* IS/4/78 (1,000.000) (101.518 101.608X1)101.65 5 1/4* 18/7/78 (1,000,000) (101.268 101.358 1) 101.34(1)101.36 6 1/2* 18/8/78 (I.OOV.UUU) (103.478 103.578) 104 908)* <1,000 000) (104 808 5 1/4* 15/10/79 (1,000,000) (100.858X1)100.75 3/4* 15/6/80 (1,000,000) (102.958 103.058) 5* T F 15/4/81 (1,000,000)
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      143 6 found only in the best company... Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: IV. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business
      143 words
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  • Article
    Shares end mixed
    454 7 PRICES moved narrowly either way to finish en a mixed tally at the Stock Exchange of Singapore yestsr d *With the technical position quickly cancelling iteelf eat and the ahssnes of fresh speculative and investaseet commitments, the market was slowly bat steadily hiiedhig towards a state of
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  • Article
    Prices in KL head higher
    424 7 THE Kuala Lumpur stock market continued to push ahead yesterday under some light buying Interest. Sentiment also Improved slightly as shares remained well supported throughout the day. However, the volume of trading was still low at only 891,000 units. According to observers, most of the
    424 words
  • Article
    Lock icon Watson comes under Hutchison fold
    148 7 Reuter HONGKONG, Tues. Hutchison International said It has gained control of more than 50 per cent of the issued share capital of A.S. Watson. The company's annual report showed its holding in Watson as 38 per cent. A Hutchison spokesman declined to comment on how
    Reuter  -  148 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1254 7 NEW YORK: Btocks surged higher in heavy trading on Monday. The advance carried auto, steel, aluminlnm, drugs, chemical, aircraft, electronic and bank hliber. Analysts said the gains came In part from anticipation of economic stimulus by Presi-dent-elect Carter's administration when It takes over In January. Carter's budget directordesignate
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    • Article
      Toronto
      287 7 TORONTO: Advances outpaced declines by a four to three margin at the close of light trading as major industrials continued to recoup losses suffered in the wake or the Quebec •election. Alcaa gained at 24, Ms— yFw(umhi was up 1 at 22V Trio* Caaada gained one at 21%, Hsagrii
      287 words
    • Article
      Zurich
      313 7 ZURICH: The market moved higher through the list on Monday. Sentiment ni aided by the weekend referendum results which renewed the emergency decree governing monetary and credit policy and rejected shortening of the working week, dealers said. Major banks posted minor gains In active turnover. Financials rose led by
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    • Article
      Jo'burg
      354 7 JOHANNESBURG: Gold shares traded generally firm on Monday In line with overseas bullion Indications In quiet trade, dealers said. Financial minings were slightly easier. Elsewhere, Da B«en moved one cent off the top to 315, after having closed at 312. Coppers were quietly firmer while platinums were occasionally easier.
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    • Article
      Brussels
      187 7 BRUSSELS: The market was mixed with a higher bias on Monday encouraged by Wall Street, dealers said. Rises Included, FN, Wageas-Lits, Gevaert, Solvay. GB-lano-Bm. Cometra and most electrical shares, drawing strength from forecasts by ebes which said It expects higher profits from 1978 and hopes to pay an Increased
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    • Article
      Frankfurt
      243 7 FRANKFURT: Most shares gained slightly on Monday on some Investment fund demand, market sources said. Among major chemicals and electrlcals, Bayer and Siemens rose 1.70 marks.'while In steels, Manneamann rose two and Tkyaaen gained 1.00. Motors were unchanged to higher, with BMW rising three and VW 1.30 higher. Banks
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    • Article
      Amsterdam
      308 7 AMSTERDAM: The market closed mostly lower on Monday as selling pressure built up during the session, dealers said. Hoogovens led Dutch Internationals lower with Royal Dutch the only exception to the weaker trend. PMlipe, which said It expects more workforce cuts next year, fell 0.30 In line with the
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    • Article
      Paris
      325 7 PARIS: The market was generally firmer on Monday, dealers said Banks were higher led by BCT. UCB and Paribas. Foodstuffs were rather mixed, but Hutchison and Mictottn gained ground In rubber. Construction rose, led by Poelala, while hotels declined, led down by Jacques Borel. Stores and electrlcals were mixed,
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    • Article
      Milan
      117 7 MILAN: The market closed higher on Monday but below the day's highs In very active trading which delayed the closure, dealers said. DEC 88 Lire Anlc 472 42 Assoc Oen ***** 124C ButoT 000 10 Central* 7970 +280 Flat 2264 4164 Flnstfer 241 +7.5 Ocn Immob 126 +8 IFIPrl
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    • Article
      Sydney
      353 7 SYDNEY: The market closed mixed in quiet trading on Tuesday, with the Australian dollar revaluation announcement reversing early gains in some leading export-oriented minings and Industrials, although some recovered towards the close, dealers said. The Sydney All-ordinaries index rose 1 63 points to close at 418.97. BHP and CBR
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    • Article
      Manila
      111 7 MANILA: The market closed mixed on Tueaday with mining and oil sectors posting fractional gains but commercials lower, dealers said. DEC «r Pmoi Acojc Mining 01S +0 0006 Atlas Con A ».7S +0.75 AUaiCon B 28.75 4-0.75 BafUlcOoW .012 unch BenguetCon B BT Goodrich 16 00 -I CDCP Inco
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    • Article
      Bangkok
      85 7 DEC 07 Bahts Asia fibre 110 unch Bangkok Bank 229 unch Bangkok Invest 1388 Bangkok "Metropolitan Bonk Bat* 36S unch Berll Jucker IS? -1 CharoongThal Wire 1518 Dumex DusltThanl Faber Merlin First Trust Indo-Tha) 1706 unch J And J Ho 157 unch Jalap rathan Cement 75 unch Karnaauta Lee
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    • Article
      Tokyo
      385 7 TOKYO: The market rose sharply in brisk trading on Tuesday on selective demand spread over a wide front, including cars, electrlcals, f>harmaceutlcals and petroeums, dealers said. The Dow Jones average gained 64.68 to 4,650.02, with volume 330 million shares. The New index, rose 4.17 to 357.04. Sentiment continued bullish
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    • Article
      Hongkong
      388 7 HONOKONO: The mark et closed slightly firmer on Tu< sday but trading was again qu let and featureless, dealers said. The Hang Seng Index rose 1 .43 points to close at 400.08. Cheung Kong rose five centt i to $5.80 In continued reaction to Its announcement of plans to
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    • Article
      Indices
      88 7 FINANCIAL TIMES INDUSTRIALS Monday 310.1 Friday 305 3 Week ago 302.4 TINS Monday 116.98 Friday 117.46 Week ago 114.93 RUBBERS Monday Friday 500 37 Week ago 515.02 OILS Monday 405 19 Friday 394.21 Week ago 391.14 DOW JONES AVERAGE INDUSTRIALS Monday 961.77 Friday 950.55 Week ago ***** LONDON DOLLAR
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      Page 7 Advertisements Column 1
      331 7 Yes P en 9 u,n books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar malam! Because Penguin books are rather special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational KM |i| jfiu i ff/01
      331 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      667 8 OPENINO quotations were marked up In line with higher London advices In Ahe Singapore rubber market yesterday. Theres.fter, prices eased on light selling before recovering in late trading on small buying interest, dealers said. Light trading was noted In nearby forwards, they said. Turnover was small. The morning
      667 words
    • Article
      SSR and SMR
      116 8 DAILY SSR and SMR prices at noon yesterday. Dm. Jan. R.A.S. (Current Mth) (Fo. ■ward Mth) Buyers Sellers Buyers Sellers (onus per kg) (cents per kf) SSR 20 (1-Ton Pallets) 180.00 188.00N 187 00 189.00N SSR 50 <1-Ton Pallets) 183.50 185 50N 184 50 186 50N M.R.E.L.B.
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    • Article
      Straits tin
      171 8 THE Straits tin price In Penang yesterday was down $***** to *****8.37tt per plcul on an official offering down 27 tonnes to 219 tonnes. In LONDON yesterday, Un closed with net sains of around £22 for Cash standard and £30 for ThreeMonths. High grade was £22 and £40
      171 words
    • Article
      Closing prices
      31 8 Rubber: Dae 7 Singapore: Dee. 194.25 eta (down 9.80 ct.) Malaysia: Jan. 296.80 eta. (up 0.75 eta) Tla: $1,238.37 >4 (down $13.09) Official offering: 219 toanes (down 27 toaaaa)
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    • Article
      Tin shipment
      79 8 Shipment of StrmlU Refined Tin from Penang (or the period Nov 1976. Destination LI Plil Afloat *76) UK (Option) 15.00 66.00 Africa 15.00 M.07 Australasia 20 00 Canada 10 00 172.27 Continent 2,130.75 23,056.52 India 406.00 2.00 2,072.22 Japan 076.00 45.00 17.407.28 West Asia 55.00 1.126.87 Pacific 230.50
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    • Article
      Palm oil
      129 8 THE following Palm Oil prices were quoted In London on Monday. The prices are elf Rotterdam and are quoted In US dollar per long ton unless otherwise stated. Malaysia 5* ffa bulk Mond.v Pre. Dec unch 445 sir Jan unch 458 sir Feb unch 455 sir Sumatra s'*.
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    • Article
      Produce prices
      252 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOBING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk $80 sellers, old drum $85 sellers, new drum $00 sellers. Copra: Mixed (loose) UK/Cont. $48 buyers. Pepper: Muntok AST A white f.o.b. 100% NLW $310 sellers. Sarawak white f ob 04% NLW $202V> sellers. Sarawak
      252 words
    • Article
      Gold
      354 8 AFTER the Jump In New York on Monday night the gold price opened firm In Singapore at U*****.50. This generated additional interest and there was a reasonable volume of business. The early gain was not held and the liletal closed at U*****.75 per ounce. The kilo bar was a
      354 words
    • Article
      Copper
      228 8 LONDON, Tues. Copper wire bars fell by mostly £6 per tonne. A downward drift developed on the pre-mar-ket where Three Months traded from £789 down to £785 per tonne. The movement was halted In the ring, however, as modest bear covering developed around the £784 level. The trend developed
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    • Article
      Zinc
      69 8 LONDON, Tues. Zinc advanced by £7.50 per tonne for Cash and £9.50 for Three Months. Trading got off to a fairly slow start but gathered momentum as continued buying, thought to be against physical activity, took Three Months upto a ring high of £396 per tonne. Profit-taking on the
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    • Article
      Coffee
      278 8 LONDON, Tues. Robusta futures opened around £4 up from Monday's close with March traded at £2,470. By the end of the easier opening call however, gains had been pared. Values ended the session £10 to £6 down from Monday with 246 lots traded. Market sources attributed the easier tendency
      278 words
    • Article
      Wheat
      143 8 CHICAGO, Mon. Wheat futures finished the session near the day's highs with gains of 5-% to 3- V» cents a bushel. Prices rose early as local and commission house speculative buying, encouraged by strength In soybean futures, met a lack of selling. Some support was provided by the appearance
      143 words
    • Article
      Soybeans
      156 8 CHICAGO, Mon. Soybean futures closed with gains of 10- Vt to 18 cents a bushel, finishing Just below the day's highs. The March closed above the significant $7.00 level, at 701-% cents. Local and commission house technical buying was the main thrust behind the advance and gains were extended
      156 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        581 8 INTEREST rates In the domestic money market yesterday eased unexpectedly to levels of the recent past with rates coming down to about three per cent for overnight funds, while short dates eased by 1/8 to 1/4 per cent. The overnight rate opened at 3V4 per cent, and bidders were
        581 words
      • Article
        Asian $ rates
        131 8 Asian rates ASIAN currency deposit interbank rate* u at cloee on Dec T. L'SDollai Ofhr isr* 7 days 4J/4 45/| 47/| 43/4 47/3 43/4 4 7/8 5 VI# 5 1/1# 9mthi 5 3/8 5 1/4 1/1 SM 8w. FT*. DM. (■MAaprtna) 111/16 5 VI# 21/1# 51/8 2 5/10 a 12
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      • Article
        Discount market
        7 8 igwyi Source: National Discount Co
        7 words
      • Article
        Euro $ rates
        124 8 Euro rates LONDON. Tues Eurodollar depolsts opened little changed from Monday's closings with a slightly bid tendency noted in some periods In early quiet conditions, dealers said. The slightly bid tendency in a fairly thin market was ascribed to FED funds traded at 4-5/8 to 4-11/10 throughout the day on
        124 words
      • Article
        London
        307 8 LONDON, Tues. The dollar continued to decline against the mark, reflecting the further shift of short interest rate differentials In the German currency's favour, after US treasury bill yields fell to four-year lows at the latest auction, dealers said. The US unit touched 2.3907/12 against the mark from 2.3935/45
        307 words
      • Article
        New York
        164 8 NEW YORK, Mon. The dollar closed weaker than on Friday as firm German Interest rates provoked a move into marks in an otherwise unusually quiet trading session, dealers said. The mark rose to 41.72/74 cents from 41.54/56, the Swiss franc to 40.86/88 from 40.72/74 and the guilder to
        164 words
      • Article
        Hongkong
        131 8 HONGKONG, Tues. The Australian dollar was quoted at U551.0350/70 In late trading here, hovering around the $1.0362 midpoint set by the morning's two per cent revaluation. Very little business was being done in the currency, dealers said. Sterling eased to U551.6540/50 from the $1.6610/20 New York close, but in
        131 words
      • Article
        Tokyo
        95 8 TOKYO, Tues. The dollar for overnight delivery closed higher at 296.65, against 296.45 at the opening and 296.05 at Monday's close. Dealers said the dollar fell initially as banks adjusted to the Impact of Monday's heavy purchases of dollars from the Central Bank, but later recovered sharply on revived
        95 words
      • Article
        Minimum lending rates (in %)
        60 8 Minimum lending rates (in ACBC 6*4 Algemene Bank 8* Bangkok Bank 7* Bank of America 6* Bank of China 7* Bank of Tokyo Bank Negara Indonesia 7'* Chartered Bank I Chase Manhattan 6*. 1 DBS 6% First Chicago ,6V. Citibank 6\ HSBC 7 Indosuez 8*» Malayan Banking Mitsui Bank .6*1
        60 words
      • Article
        Zurich
        39 8 ZURICH exchanges quoted on Dec 6. US 2.4438-4445 UK 4.0435-0465 Can 2.3745-3760 W'Germ 102.10-16 Neth 97.72-80 France 48.87-90 Belg 6.67-1/4-67-3/4 Denm 41.70-73 Norw 46.74-78 Swed 58.54-58.58 Italy 0.2823-2826 Austria 14.37-39 Port 7.74-76 Spain 3.57-3/4-58-1/4 Arg 0.85-1.15 Japan 0.82-1/4-82-3/4
        39 words
      • Article
        Australia/NZ
        50 8 AUSTRALIA/NZ exchanges quoted on Dec 7. Australia: Sterling 0.6273/0.6200 US dollar 1.0386/1.0338 Ninety days air mall buying rates: Sterling 0.6586 US dollars 1.0628 Ninety day forward buying rates: Sterling 0.6464 US dollars 1.0407 New Zealand: Sterling 0.5469/0.5439 US dollar 0.9114/0.9014 Ninety day forward rate: Sterling 0.5890/ US dollar 0.9284.
        50 words
      • Article
        Frankfurt
        32 8 FRANKFURT exchanges opening quotes on Dec 7. US 2.3920/35 Can 2.3285/3305 UK 3.952/967 Neth 95.73/88 Switz 97.85/98.00 Italy 2.76/77 France 47.80/95 Norw 45.80/90 Belg com 6.53/55 Belg fin 6.51/53 Japan 0.8065/85
        32 words
      • Article
        Eurobond prices
        280 8 LONDON, Tues. Eurobonds traded firmer where changed In moderate to active conditions, dealers said. US Issues were higher by around 1/4 to 1/2 point following lower short term Interest rates in the US, dealers said. US convertible bonds were higher in increased trading and Japanese bonds were also
        280 words
    • Article
      Silver
      142 8 LONDON, Tues. Silver showed loesess of 0.1 to 0.5 pence per troy ounce. The market appeared overI shadowed by activity in tin, l lead and sine and Interest was virtually non-exlstant, with only seven lots traded. Three Months changed hands at 274 pence per troy ounce. On Monday afternoon,
      142 words
    • Article
      Lead
      69 8 LONDON, Tues. Lead rose by mostly £2.50 per tonne Values advanced on the pre-market and during the early ring on covering against sales reported made to Eastern Europe, Involving some 3,000 tonnes, dealers said. But the higher levels appeared to attract profittaking and Three Months traded back from a
      69 words
    • Article
      Sugar
      164 8 LONDON, Tues Terminal opened barely steady £0.75 to £0.45 per tonne lower than Monday's close. Sales totalled 922 lots. Market sources said trade reports In the U8 that there may soon be further action from Washington to regulate US sugar Imports could have a bearish Influence on world sugar
      164 words
    • Article
      Rice
      222 8 BANGKOK, Tues. Indicative prices for rice quoted yesterday were: (US dollars Eer tonne fob basis Bangok) White Rice: 100 per cent Ist class 290 100 per cent 2nd class 275 100 per cent 3rd class 270 5 per cent 258 10 per cent 237 15 per cent 234 20
      222 words
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      Page 8 Advertisements Column 1
      442 8 You have only one face make the best of it. Advice from Business Times. If your corporate face isn 't as good as it could be Business Times can help change it for the better. Few people place their trust in a total stranger. This has to be one of
      442 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon BRAZIL TO BUILD A RAILWAY OVER MOUNTAIN
      1325 9  -  WHEN the Brazilians first started opening up the interior of their country they thought in terms of roads. But with a mountain of iron ore to shift and the price of oil going uff all the time, they have had second thoughts. So
      Financial Times  -  1,325 words
    • Article
      New FEFC pact with FCRIM may not apply to our shippers
      751 9  -  By Teresa Lim IF A new contract Is drawn up between the Par Eastern Freight Conference (FEFC) and the Freight Committee of the Rubber Industry of Malaysia (FCRIM), it wlli. not automatically apply In Singapore. At present, the contract
      751 words
    • Article, Illustration
      IN PORT
      369 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Crane Barge Tal Chin (0700 after Neptune Jasper) 29/30. King Lake (0600 after Temburong) 22 Perak (2000 21 West Pyenghoa (after Fel Chi) 38/30 Qulngshul (0500 after Frotarlo) 47 SBS in (B. Barge) 0800 48 CONTAINER PORT Dellcla 52 Undo 51 PABIR PANJANG
      369 words
    • Article
      Freight market
      163 9 LONDON. Tuee. Lacking further Interest in the grain actor, other commodities wart left to provide a very quiet Monday's interact. Hamaton roads eoal shippers cohered 90.0 M tonnes for Japan via the Cape aboard the mid-December loader "Mctae Bridge at UBM.M (discharge free) and SO,MM tonnes for the
      163 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      547 9 ARRIVALS Service Operator Number Local Time 1 From TMA PAA CAL JAL SIA CPA OIA THAI THAI TL304B PA841 CI816 JL712 SQ211 CX710 OA 980 TO 423 TO 981 0530 0950 1000 1000 1010 1030 1030 1035 1045 TPE SFO/HNL/GUM HLP HLP HLP HLP HLP BKK BKK
      547 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      437 9 f r Get off the bandwagon! SINGAPORE TRADE AND INDUSTRY puts its finger on survival techniques for the Singapore businessman in its November issue don't follow the crowd, diversify, and fast! The Republic's leading monthly economic review examines practical applications of this principle with its in-depth coverage this month of
      437 words
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  • Article, Illustration
    THE INDONESIAN ECONOMY: IT'S A BATTLE FOR SURVIVAL...
    1581 10  -  NEXT FIVE YEARS WILL BE MOST CRUCIAL By COLIN CHEE INDONESIA is literally fighting for economic survival, and knowledgeable Jakarta officials and residents agree that the five years will be the most crucial and trying in deciding the issue. If current trends
    1,581 words
  • Article
    Lock icon Keeping ad agency men on their toes
    1075 10  -  By PHILIP DOUGERTY NYT THE ad agency executive who thinks he's left his report card days back on the campus had better think again. Some of the largest advertisers In the United States are making Miss Grundy look like sweetness and light. Now
    NYT  -  1,075 words
  • Article
    Lock icon 'Threshold' companies the most demanding of managerial skills
    679 10  -  By FREDERICK ANDREWS NYT WILL a good big man whip a good little man every time? Maybe In sports, but not In business, according to Donald Clifford Jr., a management consultant who specialises In companies with up to US$3OO million in sales
    NYT  -  679 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      193 10 I =1 A ASM RESEARCH BULLETIN This unique publication offers businessmen eoch month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided into six separate reports of about 8,000 words
      193 words
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  • Article, Illustration
    Lock icon MIKI MAY BE READY TO RESIGN
    699 11 Reuter UPI TOKYO, Tues. Prime Minister Takeo Mlkl Indicated today that he was ready to resign to assume responsibility for leading his ruling Liberal-Democratic Party (LDP) to its worst setback in Sunday's general elections, political sources said. The sources said Mr. Mlkl, 69, made
    Reuter; UPI  -  699 words
  • Article, Illustration
    Sabah cuts log exports to boost industries
    790 11 LABUAN, Tues Sabah Is to reduce its log exports by half over the next five years to encourage industrialisation and bring mow stability to the state's economy. Datuk Harris Salleh, Sabah Chief Minister, announced the new policy here yesterday before representatives of all
    790 words
  • Article
    Lock icon WALKOUT BY 28,000 AT GM'S PLANTS IN CANADA
    194 11 UPI TORONTO, Tues. Some 28.000 United Auto workers (UAW) employed at 11 General Motors of Canada plants walked off the Job today as union and company negotiators were reported near an agreement on a new contract. "The UAW members began walking out
    UPI  -  194 words
  • Article
    Lock icon Malaysia calls for realistic tin prices
    452 11 Reuter KUALA LUMPUR Tue«. The International Tin Council (ITC) should seek to bring about "a better and more realistic relationship between prices and costs of production" In the Interest of both producing and consuming countries, Deputy Primary Industries Minister Paul Leong said. In a
    Reuter  -  452 words
  • Article
    Why forwarders' assn should join world body
    296 11 THE Singapore Freight Forwarders' Association should upgrade Its status by Joining the international body, Flata, according to Mr. R.H. Hoogerverff, Flata Treasurer, yesterday. This, said Mr. Hoogerverff, would enable freight forwarders In the Republic represented by the relatively young association to gain greater
    296 words
  • Article
    Lock icon S. Korea deficit down to $2.46
    183 11 AP SEOUL, Tues. South Korea's trade deficit shrank more than half to US$97O million (552.38 billion) in the first nine months of this year from $1.96 billion a year earlier, government statistics showed today. Korea scored trade surpluses with Its major trading partners, notably
    AP  -  183 words
  • Article
    Lock icon Higher targets for Seoul 5-year plan
    222 11 AP SEOUL, Tues Encouraged by high exports and economic growth more rapid than expected, South Korea has set higher targets for its fourth five-year economic plan, 1977-81, Deputy Premier Nam Duckwoo announced today. Mr Nam, also Economic Planning Minister, said the gross national product
    AP  -  222 words
  • Article
    Lock icon W. Europe wants early summit with Carter
    780 11 NYT PARIS, Tues. The major Western European leaders have come out publicly for an early summit meeting with President-elect Jimmy Carter. This slight breach of protocol, in advance of the inauguration, reflects the Intensity of the Europeans' sense of need to know Washington's
    NYT  -  780 words
  • Article
    Indonesia tops UN target by 50 pc
    94 11 JAKARTA, Tues. Indonesia's economic development rate is exceeding the target set by the United Nations by about 50 per cent, Communications Minister Emil Sallm said here last night. He told newsmen after a meeting with President Suharto that the per capita Income of
    94 words
  • Article
    Increase in cargo handled by lighters
    150 11 LIGHTERS at Pasir Panjang Wharves last month handled 44,341 tonnes of cargo, a 90 per cent increase over October. This Increase can be attributed to the lower rates and charges for the working of lighters, Introduce on Nov 1 by the Port of Singapore
    150 words
  • Article
    Lock icon Ohira gives order on 'extra' budget
    274 11 Reuter TOKYO, Tues. Finance Minister Masayoshi Ohira said today he has instructed the Finance Ministry to start compiling a supplementary budget, which will probably be approved shortly in outline by the present Cabinet of Prime Minister Takeo Mild. The supplementary budget will cover additional
    Reuter  -  274 words
  • Article
    Accountants urged to cultivate modern outlook
    199 11 MINISTER of Science and Technology, Dr. Lm Chiaw Meng, yesterday urged local accountants to cultivate a "modern and international outlook" to help Singapore's development as a financial centre. He said: "In a society like Singapore which is open to free competition, the trend of
    199 words
  • Article
    Lock icon Muzzle on, uranium officials
    90 11 Reuter CANBERRA, Tues. The Australian Government published In its official gazette a list of 17 uranium company and atomic energy commission officials ordered not to give evidence in US anti-trust cases. Westinghouse Electric Corp named the 17 men in a letter of request to the New
    Reuter  -  90 words
  • Article
    On-line banking has a bit of catching up to do
    295 11 ON-LINE banking Is not progressing as fast as Singapore's growth in genera) towards a sophisticated financial centre, according to a computer expert, Mr. Tony Moo. He attributes this to banks taking "an apprehensive, and cautious attitude" towards computerisation; this attitude
    295 words
  • Article
    Lock icon More refugees brave the sea
    205 11 AP BANGKOK, Tues. The number of Vietnamese fleeing their homeland in fishing boats has increased sharply in recent months, the United Nations High Commissioner for Refugees (UNHCR) said today. UNHCR statistics Indicate 266 Vietnamese arrived In Thailand by the Hazardous sea route in September, 447
    AP  -  205 words
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      Page 11 Advertisements Column 1
      508 11 APPOINTMENTS A ASIA PACIFIC SHIPYARD PTE. LTD. MEMBER OF A GROUP OF COMPANIES IN THE MARINE INDUSTRY INVITES APPLICANT FOR THE POST OF PROJECT MANAGER Applicant should possess: —A recognised University Degree or Professional qualification in Naval Architectual, Mechanical, Electrical or other related qualifications connected with shipbuilding —Minimum three years
      508 words
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      Page 11 Advertisements Column 2
      208 11 METALS ORES PTE. LIMITED Jurong a member of the UNION CARBIDE SINGAPORE GROUP OF COMPANIES invites applications from Singapore Citizens for the position of INDUSTRIAL RELATIONS Till The successful candidate will possess tertiary qualifications and preferably at least two years industrial relations experience, including collective bargaining, wage/salary administration and other
      208 words
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  • Article, Illustration
    Lock icon Kissinger in , attempt to rescue Rhodesia plan
    358 12 Kissinger in attempt to rescue Rhodesia plan UPI LONDON, Tues. US Secretary of State Henry Kissinger will discuss with the British Government this weekend possible steps to rescue his foundering Rhodeslan majority rule plan, British Government officials said today. Dr. Kissinger, on what was expected to be his last visit
    UPI  -  358 words
  • Article
    Govt approves $1.5 m more for ITC scheme
    350 12 THE Government has approved a further 51.5 million for the development of the Industrial Technician Certificate (ITC) programme, bringing its total investment in this programme to $7.2 million. This was disclosed by Mr. Chua Slan Chin, Minister for Home Affairs and Education,
    350 words
  • Article
    LONDON STOCKS
    801 12 LONDON, Tues. The stock market closed firm In light trading and at 3 p.m., the Financial Times Index was 6.5 points higher at 316.6 following speculative interest ahead of the economic measures to be announced by the Government next week Stock shortage also helped the advance in equities,
    801 words
  • Article
    PETRONAS ACCORD WITH EXXON AT LAST
    181 12 KUALA LUMPUR. Tues. Petronas today reached agreement with Exxon for a production sharing contract which is expected to be signed here tomorrow evening. The agreement was reached following protracted talks between the two where proposals and counter proposals were exchanged in an effort to
    181 words
  • Article
    Lock icon Taiwan rice
    38 12 Reuter TAIPEH, Tues. Taiwan's rice output this year Is expected to total Just over the original target of 2.7 million tonnes, more than eight per cent higher than last year, the Central News Agency reported today.
    Reuter  -  38 words
  • Article
    ALL EYES FOCUS ON NMB – THE FIRM WITH A FRESH OUTLOOK
    803 12 ALL EYES FOCUS ON NMB THE FIRM WITH A FRESH OUTLOOK WHEN Nippon Miniature Ballbearing of Japan sought to expand Its Singapore manufacturing facility It decided to float an Asian dollar bond. The bond created a precedent of sorts, since the borrower was not NMB, but its Singapore subsidiary. Before
    803 words
  • Article
    Lock icon Australian dollar is revalued
    508 12 REVERSAL IN OUTFLOW OF FUNDS Reuter AP UPI CANBERRA. Tues Australia today revalued its dollar two per cent above the record devaluation level of 17.5 per cent brought in only nine days ago, following a reversal In the massive outward flow .of funds that in part
    Reuter; AP; UPI  -  508 words
  • Article
    Lock icon Import tariffs cut
    236 12 Reuter CANBERRA, Tues. The Australian Government tonight announced cuts of between six and 10 per cent In import tariffs, on about a third of all goods subject to tariff protection. The Minister for Business and Consumer Affairs, John Howard, told Parliament that over 900 Items will be
    Reuter  -  236 words
  • Article
    Restore fixed rates of exchange call
    281 12 LEADING Swiss bankers call strongly for the restoration of fixed exchange rates for International currencies In a document published by the Credit Suisse banking group. They charge that floating rates signalled the breakdown of a previously stable world monetary system and have since encouraged
    281 words
  • Article
    Bank files $800,000 suit
    81 12 A $800,000 SUIT was filed In the High Court yesterday by Asia Commercial Banking Corporation, against MlngTa Pte Ltd, for money allegedly owing to the bank. Other suits filed Include the following: by Chung Khlaw Finance (In volun- tary liquidation) against Ang Leong Beng and Credit
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    Lock icon ...AND IN PAPUA NEW GUINEA
    147 12 UPI PORT MORESBY, Tue«. Papua New Guinea followed Australia's move today and revalued its currency, kina, also by two per cent. The exchange rate between Papua New Guinea and Australia remains the same 118 Australian dollars to 100 kina. In his statement announcing the revaluation,
    UPI  -  147 words
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    Lock icon Off to Iran
    29 12 Reuter BANGKOK, Tues. Thailand's Crown Prince Vajlralongkorn left here today for a six-day visit to Iran at the invitation of Crown Prince Reza Pahlavl of Iran.
    Reuter  -  29 words
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    9th DBS branch signals new expansion phase?
    343 12 THE opening of the Development Bank of Singapore's ninth branch at Tanjong Pagar may signal the start of a new expansion phase for Its commercial banking division. More branches are expected next year. The last phase, which was launched with the opening of
    343 words
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    Lock icon Fighting erupts again in Lebanon: 28 killed
    464 12 AP BEIRUT, Tues. The worst fighting In Lebanon since the start of a ceasefire last month erupted in two locations today, leaving at least 28 people dead and 27 wounded. A sudden outbreak of fighting between leftwlng Fatah guerilla forces loyal to Yaslr
    AP  -  464 words
  • Article
    TAIPEH BANK TO OPEN BRANCH IN STORE
    112 12 A TAIWANESE bank, First Commercial Bank (FCB), will open a branch in Singapore early next year. Although the Monetary Authority of Singapore has not issued any banking licence to FCB, banking sources believe that the bank will operate as a restricted bank, joining
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    Lock icon Oil warning
    37 12 Reuter GENEVA, Tues. An early-warning system to combat the growing threat of oil spillage from ships in the Mediterranean will be launched in Malta this weekend, the United Nations Environment Programme (UNEP) said today. Reuter.
    Reuter  -  37 words
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