The Business Times, 5 February 1977

Microfilm: NL8986
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    9 1 BUSINESS TIMES M.C.(P) 300/1/77 SATURDAY, FEBRUARY 5, 1977 50CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Viet tour of South Asia
      57 1 AP BANGKOK, Fri. In a move to strengthen relations and co-operation with South Asian countries, Vietnamese Premier Pham Van Dong has assigned Vice Minister for Foreign Affairs Pham Hlen to tour the region, the Voice of Vietnam said today. The broadcast did not say how
      AP  -  57 words
    • Article
      Lock icon Aussie jobless peaks
      37 1 Reuter CANBERRA, Frl. The number of people registered as unemployed in Australia rose to 354,589, or 5.8 per cent of the workforce, during January this year, according to official statistics released here today Reuter
      Reuter  -  37 words
    • Article
      Lock icon 'No' to US pullout
      57 1 AP TOKYO, Frl. The 12th general meeting of the Asian Parliamentary Union ended a five-day session today after adopting a resolution opposing the proposed withdrawal of American ground forces from South Korea. The meeting was attended by some 50 national assemblymen from Japan, South Korea, Taiwan,
      AP  -  57 words
    • Article
      Lock icon Time to beef up army
      64 1 Reuter JAKARTA, Fri. Foreign Minister Adam Malik has said the rebuilding of the armed forces is as Important as that of the economy if Indonesia is to be able to meet any eventuality. Mr. Malik told a parliamentary debate yesterday that the time had come
      Reuter  -  64 words
    • Article
      Lock icon Blizzard hits Japan
      44 1 UPI TOKYO, Fri. A blizzard from Siberia dropped a heavy blanket of snow onto northern Japan yesterday and early today, causing a heavy toll of death and injury and disrupting the nation's my railway lines, the National Police Agency reported. UPI.
      UPI  -  44 words
    • Article
      Lock icon US employment
      50 1 UPI WASHINGTON, Thurs. Unemployment in the United States fell to 7.3 per cent in early January, returning to the post-recession low of eight months ago, the Labour Department said today. It does not include more than one million persons laid off recently by a severe winter weather. UPI.
      UPI  -  50 words
    • Article
      Lock icon Final Tripoli meeting
      37 1 UPI MANILA, Fri. Representatives of the Philippine Government and Muslim rebels will meet again in Tripoli, Libya beginning Monday to work out a final settlement of the four-year-old rebellion in the southern Philippines. UPI.
      UPI  -  37 words
    • Article
      Lock icon Envoy to Manila
      36 1 Reuter MANILA, Fri. The Government has accepted the nomination of Professor Maurice Baker as the new Singapore Ambassador to the Philippines to replace Ambassador Cheam Kim Seang, the Foreign Office said today. Reuter
      Reuter  -  36 words
    • Article
      Lock icon Ethiopian strongman
      29 1 UPI ADDIS ABABA, Fri. Lt.Col. Menglstu Halle Mariam today consolidated his position as Ethiopia's strongman, following the slaying of head of state Brig. Tefarl Bentl yesterday. UPI
      UPI  -  29 words
    • Article
      Lock icon Dow Jones
      44 1 UPI NEW YORK, Frl. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 948.97, up 1.83; 20 transp 227.02, up 0.36; 15 utlls 109.09, up 0.19; 65 stocks 311.83, up 10.56. UPI
      UPI  -  44 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      191 1 SHARE prices moved lower in lacklustre trading at the Stock Exchange of Singapore yesterday. Price movements were narrow and turnover declined further. On the options board, the premiums narrowed in line with the general market after opening on a firm note. With most shares showing losses, the
      191 words
    • Article
      In Kuala Lumpur
      107 1 Falls Most active M. Contain $1.07 -.08 Pan Electric .99,000 Prima $2.78 -.08 Haw Par .87,000 Lien Hoe $1.09 -.05 Central Sugars .47.000 Matsushita S2.24 -.05 Oener&l I.umber 45 000 Ldn Asiatic $2.42 AChoc $066 Guinness $4.20 M Flour $2 68 DBS. $392 MBS $2 34 Rises
      107 words
  • Article
    Shareholders have the winning card
    879 1 SO MUCH AT STAKE BUT THE bid to control Golden Hope plantations either on its own or as part of a large combine could be decided by early next week. Tuesday has been set for the counting of the votes shareholders have been asked to
    879 words
  • Article
    Lock icon Co-ordination by Bonn, Paris
    268 1 Reuter PARIS. Fri. President Valery Giscard d'Estaing and West German Chancellor Helmut Schmidt today ended their two-day Paris summit agreeing on the need for tighter co-ordina-tion of French and German I economic policies. At a press conference, the I two leaders made similar statements in which
    Reuter  -  268 words
  • Article
    Right of pursuit
    93 1 KUALA LUMPUR. Fri. The revised border agreement initialled between Malaysia and Thailand today continues to allow security forces of both countries the right of hot pursuit into each other's territory in dealing with the communist terrorists. The distance the security forces are allowed to go and the
    93 words
  • Article
    Grange Road highrise project isn't so lucky
    453 1 THE $20 million Lucky Tower residential development In Grange Road appears to have fallen victim to the general recession in the Singapore private property market. Work on the 25-storey block of luxury apartments which commenced around 1973 appears to have come virtually to
    453 words
  • Article
    Lock icon Kuwait's oil output down by one-third
    194 1 Reuter KUWAIT, Frl. Kuwait's oil production fell last month by one third to 1.2 I million barrels a day because buyers sought cheaper crude oils, Kuwait Oil Minister Abdel-Mutaileb Al-Kaziml said here. In a television interview broadcast last night, the Minister said: "Defeat will
    Reuter  -  194 words
  • Article
    Lock icon KL detainees admit Red involvement
    191 1 Reuter KUALA LUMPUR, Frl. Five of the six leading Malaysian politicians detained since last November as communist suspects have confessed their involvement in activities to help the communist front, In-spector-General of Police, Tan Sri Haniff Omar, said here tonight. Speaking over television Malaysia Tan Sri
    Reuter  -  191 words
  • Article
    Lock icon Asiac co-manager of Seoul bond
    173 1 AP HONGKONG, Frt. The Hongkong-based merchant bank, Asian International Acceptances and Capital Limited (Aslac), announced today it is co-managing a USS2S million (5561.25 million) bond for the Korean Development Bank. It said the main bank In the bond issue, guaranteed by the Republic of Korea,
    AP  -  173 words
  • Article
    Yomeishu to cost more
    293 1 YOMEISHU, the Japanese medicinal tonic so often advertised on television, will probably be increasing its retail price by approximately 20 to 25 per cent in the near future. The tonic, which currently retails for 122.50 a bottle, bae been forced to pass on the coat of
    293 words
  • Article, Illustration
    SMA PLAN TO STEP UP EXPORTS TO SOVIET BLOC
    200 1 SINGAPORE manufacturers must step up their efforts to increase sales to the countries of Eastern Europe to prevent a huge trade imbalance. One way is to use Intraco, the government trading agency, to boost trade, and this is being looked into
    200 words
  • Article
    Lock icon Kenya is flying
    51 1 AP NAIROBI/ F*l. —Tfce Kenya Government formally announced today It had set up its own international airline, Kenya Airways, following the break up of East African Airways, the airline ran Jointly by Kenya, Tanzania and Uganda. East African Airways was grounded for good last week after financial
    AP  -  51 words
  • Article
    Finance houses: Pace still good
    294 1 DESPITE the moans and groans that have emanated recently from some finance companies, these institutions show no signs of fading out. On the contrary statistics released by The Monetary Authority of Singapore reveal that they are growing dally by impressive quantums. Deposits with finance companies,
    294 words
  • Article
    Never too much to 'cash in'
    293 1 BANKS last year were faced with the rather unusual situation of having much more money than they knew what to do with. Nevertheless, they succeeded creditably in mobilising local funds to finance local business, even though the largest slice of the financing still went
    293 words
  • Article
    Lock icon Egypt, Syria closer
    75 1 Reuter CAIRO, Frl. Egypt and Syria, the two biggest military powers In the Arab world, today announced the formation of a unified political command setting the seal on detente after more than a year of antagonism. President Anwar Sadat of Egypt and President Hafez Al-Assad of Syria
    Reuter  -  75 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      62 1 w I <r !,r \1 S'i< iItJ in >>i ;</ l)iuintjnJ\ ,t f iJmillerv I VuK'utu i nt lralt\>KJ''.\hip '6*l CeytotiJeweUers IS Stamford Ad.. Singapore S. T«4: *****8/*****7. INSIDE Overseas newt/ TV 4k Radio Local/ International Co news Local stocks Overseas stocks Commodities > P8 P 3 Transport 4 Communications
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    • Advertisement
      Page 1 Advertisements Column 2
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      99 words
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      Page 1 Advertisements Column 3
      0 1 *&_~_&]&+-!&>)<*$/!}>}<;"=-*!,[
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    • Advertisement
      Page 1 Advertisements Column 4
      169 1 ?pr mem VR Put your idle cash to work with American Express International Banking Corporation Whether you do business in one currency or a dozen, at a single location or around the world: We can put your cash to work for you. More than half a century of international banking
      169 words
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  • Page 2 Advertisements
    • Advertisement
      Page 2 Advertisements Column 1
      703 2 This advertisement is made by N.M. Rothschild Sons Limited on behalf of Genting Highlands Hotel Berhad. The directors of Genting have taken all reasonable care to ensure that the facts stated and opinions expressed herein are fair and accurate and jointly and severally accept responsibility accordingly. TO ALL SHARE HOLDERS
      703 words
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  • OVERSEAS
    • Article
      Lock icon Russia agrees to talks on EEC fishing rights
      209 3 UPI LONDON, Frl. The Soviet Union has agreed to epen negotiations with Britain on new fishing restrictions within a 320 km limit imposed by European Common Market countries, the Foreign Office said yesterday. Britain, in its role as Common Market president for
      UPI  -  209 words
    • Article
      Lock icon India to import soyabean oil
      104 3 UPI NEW DELHI. Fri. India will import 50.000 tonnes of soyabean oil valued about US$26 million from the United States under an agreement signed yesterday. Five per cent of the purchase price will be paid as down payment and the rest will be covered by
      UPI  -  104 words
    • Article
      Lock icon Oil output reduced
      69 3 Reuter KUWAIT. Fri. Production from Khafjl oilfield which previously produced 444,000 barrels per day, was reduced by a third last month, the weekly newspaper Al-Hadaf quoted Kuwait Oil Minister AbdelMuttaleb as saying. Al-Kazimi told the newspaper Kuwait and Saudi Arabia, which share production from the field, failed
      Reuter  -  69 words
    • Article
      Lock icon 'Keep a regular supply of uranium' appeal
      527 3 BRUSSELS, Friday UPI THE official In charge of the European Common Market's energy policy appealed to the United States yesterday to maintain regular supplies of uranium for peaceful uses. Because of Internal reforms aimed at tightening control over the movement of enriched uraniums,
      UPI  -  527 words
    • Article
      Lock icon Severe cold may damage Soviet grain output
      331 3 AP WASHINGTON, Fri. Some 14 per cent of the Soviet Union's winter gain crop may be in danger of severe damage from cold weather, although it is much too early to predict 1977 harvest prospects, the United States Agriculture Department said yesterday. "The
      AP  -  331 words
    • Article
      Lock icon Copper production likely to exceed consumption
      180 3 Reuter NEW YORK. Fri. World copper production could outstrip consumption in 1977 by an estimated 200,000 tonnes if there is no strike by members of the United Steelworkers of America this summer, two executives predicted at a panel discussion. Mr. Gerald Lennard, president of
      Reuter  -  180 words
    • Article
      Lock icon US warns C-Mart about steel quotas plan
      159 3 AP BRUSSELS, Frl. The United States has warned West European steelmakers that it will not tolerate restrictions on American steel imports, an Informed source said yesterday. The source said Mr. Etienne Davlgnon, the Common Market commissioner for Industry, passed on the American warning
      AP  -  159 words
    • Article
      Lock icon Concorde for NY: Decision put off
      157 3 UPI NEW YORK, Fri. Despite confident predictions from British and French officials, the Port Authority of New York and New Jersey yesterday postponed for at least another month a decision on whether the Concorde supersonic transport plane will be allowed to land at Kennedy
      UPI  -  157 words
    • Article
      Lock icon 'No big trade unless there are full ties'
      142 3 AP PORTLAND, (Maine), Fri. Unless the United States grants full diplomatic recognition to China, there will never be a large amount of trade between the two nations, according to a British economic consultant. Mr. Roland Berger said the British companies that he
      AP  -  142 words
    • Article
      Lock icon Canada's prerogative
      126 3 API OTTAWA, Fri. Prime Minister Pierre Elliott Trudeau said yesterday that Canada will trade "with whom we damn well want" even If It disagrees with its trading partner's policies. Mr. Trudeau's remark was made at a news con- ference In response to allegations that Canada has not been
      API  -  126 words
    • Article
      Lock icon Burns: Signs US economy picking up
      232 3 Reuter WASHINGTON, Fri. Federal Reserve Board chairman Arthur Burns said he does not believe the United States economy needs any stimulus at present. Mr. Burns told the House Banking committee there are signs the economy is picking up. "It is not clear to me
      Reuter  -  232 words
    • Article
      Lock icon Record index
      19 3 Reuter LONDON, Frl. Reuter's commodity Index yesterday gained 9.2 points to reach a new peak of 1618.7.
      Reuter  -  19 words
    • Article
      Lock icon American airline industry stages a comeback
      366 3 NEW YORK, Fri. AP THE United States' airline Industry, which has beep cutting costs and Juggling fares to win back passengers and profits, has rebounded strontly from the depressed levels of 1975 and Is looking toward a healthy 1977. "The Industry has staged a
      AP  -  366 words
    • Article
      Lock icon No evidence people drink less coffee
      202 3 DESPITE TWO-FOLD PRICE HIKE UPI ROME, Fri. There is no firm evidence that the people of the world are drinking less coffee despite a twofold increase in prices over the past year, the United Nations Food and Agriculture Organisation said yesterday. "Prices have rocketed
      UPI  -  202 words
    • Article
      Lock icon Prospects for more stable exchange rates better
      172 3 Reuter DAVOS, Frl. Swiss National Bank president Fritz Leutwller said the prospects for more stable exchange rates are much better In 1977 than over the past two years. He told the European Management Symphoslum this is because of growing confidence in the .United
      Reuter  -  172 words
    • Article
      Lock icon Hearings on the Byrd amendment start on Thursday
      222 3 AP WASHINGTON. Frl. The United States Government will launch its promised effort to repeal legislation allowing American trade with Rhodesia at US Senate hearings beginning next Thursday. US Secretary of State Mr. Cyrus Vance will open the series of foreign relations subcommittee
      AP  -  222 words
    • Article
      Lock icon Industrial plants
      81 3 Reuter WASHINGTON, Fri. Mr. John O'Leary, Federal Energy Administrator designate said the natural gas shortage which has forced the closure of industrial plants in several mid-wes-tern and eastern states could be protracted, so that the plants might not reopen before the spring. He said that when the present
      Reuter  -  81 words
  • Page 3 Advertisements
  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      396 3 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Feb 4 at Singapore airport. Maximum temperature 28.1° C Associated humidity 76 Minimum temperature 22.7° C Associated humidity 99 Hours of sunshine nil Rainfall in millimetres trace Total rainfall for the month 25.0 Total rainy days for the
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  • Page 4 Advertisements
    • Advertisement
      Page 4 Advertisements Column 1
      200 4 ADVERTISEMENT The Board of GOLDEN HOPE PLANTATIONS strongly recommend shareholders to accept the HME MERGER Proposals.. f The Merger enables you to maintain an outstanding investment in the plantation sector. The Merger should more than double your income. The Merger will increase the potential for continued outstanding growth. And to
      200 words
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  • COMPANY NEWS
    • Article
      KLSE may lift ban on two
      450 5 THE Kuala Lumpur Stock Exchange has agreed to lift the suspension on dealings in the shares of Sentosa Plywood and South Johore Amalgamated, subject to approval from the Malaysian Capital Issues Committee. Sentos? was suspended after a series of unsastlsfactory replies over Its purchase
      450 words
    • Article
      Sales at BHP set record
      198 5 SYDNEY, Frl. Australia's largest company, Broken Hill Pty. (BHP), announced today that for the first time its sales during a six-month period climbed over the billion dollar mark. The company's Interim report for tne period ended Nov 30. 1976 said net profit had risen *40.3
      198 words
    • Article
      CHICAGO BOARD OPTIONS
      1229 5 On February 3 PRICES on the Chicago Board Options Exchange declined on Thursday, as losers topped gainers, 355 to 95. CBOE volume approximated 76,866 contracts, compared with 77,449 contracts on Wednesday. OPTION API JLY OCT STOCK Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel Avon
      1,229 words
    • Article
      Lock icon Kawasaki venture
      61 5 Reuter OSAKA. Fri. Kawasaki Heavy Industries and West Germany's Messerschmltt Bolkow Blohm have reached broad agreement on Joint development of a new multi-purpose eight-seater helicopter, Kawasaki's president Klyoshl Yotsumoto said. He told reporters he expects the formal contract will be signed next month. Kawasaki hopes to begin production
      Reuter  -  61 words
    • COMPANY MEETINGS
    • Article
      Lonrho sees 47 pc jump
      339 5 LONDON, Frl. With buoyant sales, Lonrho has enJoyed a 47.5 per cent Jump in audited pre-tax profit to £93.4 million (£63.3 million) in the year ended Sept 30, 1976. Sales rose by 78.7 per cent to £1.08 billion from £606 million last time. Earnings per
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    • Article
      Siemens reports slight rise
      191 5 MUNICH, Frl. In the first quarter ended Dec 31, 1976, worldwide consolidated net profit at Siemens rose slightly to 136 million marks from 135 million marks. Sales were 5.5 billion marks (4.8 billion marks), comprising 2.9 billion marks (2.6 billion marks) in Germany and 2.0 billion
      191 words
    • Article
      Bell Canada told to give up Northern ties
      193 5 MONTREAL. Frl. Bell Canada said it received a statement from the Restrictive Trade Practices Commission suggesting the public Interest might best be served by dissolving Bell Canada's ownership ties with Northern Telecom. Northern Telecom Is 62.9 per cent controlled by Bell. Bell
      193 words
    • Article
      DIVIDENDS ANNOUNCED
      184 5 Currant Ex Date Total for Total for payment Date payable the year previous year Pahang Pref. 3.5%+ Jan 25 Feb 7 3.5%+ 7% U.M. Flour 10% Jan 20 Feb 10 10% 10% 8el. Dredging 35%+ Jan 20 Feb 11 35%+ 40% D. Keramat 00.07%+ Jan 20 Feb 17
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    • Article
      Lock icon Swire Pacific
      96 5 Reuter HONGKONG, Frl Swire Pacific said it acquired 80 per cent of Chemsyn. a Hongkong-re-gistered private company currently manufacturing chemicals for the textile Industry. Following the acquisition Chemsyn will build a major plant on Tslng Yl island which will supply enough chlorine to meet Hongkong's needs, as well
      Reuter  -  96 words
    • Article
      Lock icon Alcan Aluminium at crossroads again
      776 5  -  By ROBERT GIBBENS FT ALCAN ALUMINIUM, Quebec smelters, accounting for 700,000 short tonnes of total Canadian capacity of one million tonnes, were struck last year for five months. Except for the sipall Shawlnlgan smelter, the bitter strike was finally settled hours before the Nov IS
      FT  -  776 words
    • Article
      Tasek appeals against building fine
      261 5 TASEK Cement is appealing the M 5750,000 penalty Imposed by the Perak State Government for prematurely building a $00 million extension to its cement factory on agricultural land before It was approved for conversion to industrial usage. The company says In a reply to the
      261 words
    • Article
      PEOPLE IN BUSINESS
      97 5 Mr. Oro V. Escarraga, general manager of Hotel Summit, Singapore has announced the appointment Of Mr. Kevin K.W. Hor as financial controller and Mr. Alfred T.M. Kader as executive assistant manager of the hotel. Mr. Hor will be responsible for the entire accounting and costing functions of
      97 words
    • Article
      Pan Am stages recovery
      120 5 NEW YORK. Frl. Last «ear saw Pan American torld Airways achieving a turnround from the disastrous 1975 when It lost US$46.l million. For 1976, It achieved a net profit of $94.6 million, producing earnings per share of $2.24 against a loss of $I.ll' last time. In
      120 words
    • Article
      Mitsui
      37 5 TOKYO, Frl. Mitsui said It will make a one-for-four scrip Issue of 50 yen nominal shares to shareholders registered at end-March. The Issue will raise the company's issued capital to 45.03 billion yen from 38.51 billion.
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    • Article
      Lock icon SEC sues Milgo, Racal for fraud
      326 5 Reuter WASHINGTON, Frl. The Securities and Exchange Commission filed a civil suit in the US district court here seeking an Injunction against Mllgo Electronics Corp of Florida and Racal Electronics of Britain. The commission charged Mllgo with violations of the antlfraud. reporting and tender
      Reuter  -  326 words
    • Article
      Lock icon Kubota ADRs plan
      178 5 Reuter TOKYO, Frl. Kubota filed with the US Securities and Exchange Commission for an offering of one million American depositary receipts (ADRs) each representing 20 common shares. Smith Barney International Inc said. The offer price will be fixed on the basis of the stock market price prior
      Reuter  -  178 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      434 5 To-day,"Science fantasy" reaches your wrist: Pulsar watch/calculator, the ONLY ONE of its kind. This fantastic Pulsar heralds a whole new generation of Time Computer it puts a highly sophisticated calculator on your wrist as well. The Time Computer goes on working accurately without being affected in any way while you're
      434 words
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  • Article
    Share Information Service
    2088 6 1971/77 High Low Company Last Sale +orGr'i div Div c'yt Gr'i F Net P/E Vol Day COOO) Hich Low SECTION ONE INDUSTRIALS r 175* 206 100 237 186 201.0 204 248 460 137 133 172 60 185 66 127* 149 172 386 39 Acma Alcom Allied Choc
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  • Article
    Transactions in Singapore
    1061 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lot* of 1000 units unless otherwise specified All Time Settlement Contracts are quoted after the word "Sett.' Big Board
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  • Article
    In Kuala Lumpur
    1212 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1.000 units unless otherwise specified. INDUSTRIAL* A (ma (1.438) <2) 143. A. T»M (0.428 0 458) (1>
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  • Article
    Stock options
    141 6 STRIKING price* of the atock option* officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and buainess done yesterday, with the number of options traded ahown in bracketa. D.B.S. (June $3.90) (0.208 0.278) (2) 0.29, (1) 0.29*. (1) 0 28*. (1) 0.27. (1)
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  • Article
    Unit trusts
    139 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager* 1 price* for Feb 7) (Current price*) The Commerce 1.73 1.8S INCOME BONO 1.10 1.1# The Saving Fund 0.95 1.00 S pore Prog Fund 0.82 0.17 MARA BUMIPUTRA FUND 8'pore Security Fund 1.33 1.40 S pore Invest Fund 1.0S 1.11 (Manager*'
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  • Article
    Corporate bonds
    151 6 BOTH 1/2% 19*1 (100.000) (102'tB 103 SS) BOTH 1/2% 1981 (50.000X1)102% D B S 8 1/2% 1982 (100,000) (99.8 100SS) DBS Converts 6 1/2% 1991 (100,000) (968 975) E I B 9% 1982 (100,000) <102'/»B 103*8) E I B 8 1/4% 1983 (100,000) (99 SB 100S) I B
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    Domestic govt bonds
    129 6 5 1/2% 1/12/77 (1,000,000) (101 408 101.60S) 5 1/2% 15/4/78 (1,000.000) (101.608 101.78S) 5 1/4% 15/7/78 (1,000.000) (101 488 101.555) 6 1/2% 15/8/78 (1.000,000) (103 308 103.505) 7% 1/7/79 (1,000,000) (104.858 105.008) 5 1/2% 1/10/77-79 (1,000,000) (101.608 101.65S)( 1)101.65 5 1/4% 15/10/79 (1.000,000) (101.008 101 18S) 6
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      230 6 s- 9 'fMi W&tm .u~11 ,v« M L 4 wj si %>M# M T^iM V 2 fr I *s 3 *JsMr :-;-> -j!& r -Jfr ■m V. ;1 "f <%■* Alex Josey has long been an observer, recorder and commentator of the Singaporesoene. In this new book, he examines and
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  • Article
    More losses by shares
    613 7 THE Stock Exchange of Singapore yesterday saw prices moving lower in lacklustre trading. By and large the market was still rather reserved. As most of the speculators were generally withdrawn, the buying activity was reduced to a standstill. For the better part of the day trading
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  • Article
    Trading in KL ends easier
    492 7 SHARES were subjected to another round of mild erosion at the Kuala Lumpur Stock Exchange yesterday. was for the better part of the day, characterised by cheaper offers posted on the board. Most of the pace setters found sellers dominating the scene and losses recorded
    492 words
  • Article
    Lock icon Mitsubishi
    63 7 Reuter TOKYO. Frl. Mitsubishi Paper Mills said It signed a 10-year contract to grant Minesota Mining and Manufacturing Co, manufacturing and marketing rights, for Mitsubishi's paper for computers and facsimile transmission systems in the US. Canada and Mexico. The US firm will pay three per cent of the proceeds
    Reuter  -  63 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1248 7 NEW YORK: Plagued by a wide range of economic problems, the stock market was dragged down for the third time this week on Thursday. Wall Street's concern centered on several Issues, including the natural gas shortage, uncertainty about the fate of President Carter's tax proposals to stimulate the
      1,248 words
    • Article
      Toronto
      259 7 TORONTO: The Toronto Stock Exchange on Thursday, closed lower. Prices among oil issues countered the general downturn for the second consecutive session. Metals were largely lower, While industrials closed narrowly mixed. Imperial Oil 'A' advanced 5/6 to 22-7/8 on over 60,000 shares, Gulf Oil Canada gained 5/8 at 271/4,
      259 words
    • Article
      Amsterdam
      299 7 ■AMSTERDAM: The market was quietly mixed on Thursday. (Dutch Internationals were isllghtly higher but Unilever lost isome ground. Insurances were firm. Major individual gains in the rest of the market were Giessen, Gist and Van Ommeren, while losses were led by HVA. KLM and Elsevier. Most state loans gained
      299 words
    • Article
      Paris
      359 7 PARIS: The market was narrowly mixed on Thursday, dealers said. Investments, constructions, electrlcals and oils were mixed, while banks, foodstuffs and engineering were easier. Hotels, stores, metals and chemicals were all steady. Rouaael I'riaf was slightly hlger. On Wednesday, the company announced higher 1976 net turnover. Credit Du Nord
      359 words
    • Article
      Brussels
      171 7 BRUSSELS: Share prices closed mixed on Thursday with a higher emphasis in lively trading, bourse sources said Reserve, Sidro, Electrohel and Solvay rose, but falls were noted by FN, Tabaconflna and HainautSambre which on Wednesday said it needs a two billion franc loan from the Belgian state In foreign
      171 words
    • Article
      Frankfurt
      373 7 FRANKFURT: Most shares closed easier by up to two marks In quiet trading on Thursday In a reaction to Wednesday 's gains and to the Increase to 5.5 per cent from 4.8 per cent In German unemployment In January, dealers said. Banks lost up to 2.30 marks, led by
      373 words
    • Article
      Manila
      161 7 MANILA: The market eased further in quiet trading on Friday. with minings and oils lower but commercials steady, dealers said Picop A led gainers, with Benguet Con B also rising Atlai A and B, Baguio Gold, Lepanto B, 2 Pkil Overseas, Oriental A and Sea front lost ground. KKB
      161 words
    • Article
      Jo'burg
      394 7 JOHANNESBURG: Gold shares firmed toward the close on Thursday with New York Interest evident In mid-afternoon, while other sectors tended softer, dealers said. Financial minings were mixed De Beer* recovered from an early low at 382 to rule unchanged at 387. Platinums moved off the bottom toward the close.
      394 words
    • Article
      Hongkong
      439 7 HONOKONO: The market closed on Friday, higher in more active trading with fairly strong buying support across the board during the afternoon, dealers said They said the rise was due to the strength of Hongkong stocks quoted in London overnight. to cheap buying and the covering of short positions.
      439 words
    • Article
      Tokyo
      517 7 TOKYO: Share prices recovered In active trading on Friday, led by commodity market-related shares and energy stocks, dealers said. The Dow Jones average gained 18.68 to close at 5,065.28 with volume 380 million shares. The New Index closed at 381.08, up 0.62. Nonferrous metals, chemicals. paper-pulps and textiles and
      517 words
    • Article
      Bangkok
      82 7 FEB IM Bahts Asia Fibre 119. -2 Bangkok Bank 247 -2 Bangkok Invest 146 -18 Bangkok-Metro-politan Bank Bata 371S unch Berll Jucker 167S Charoong Thai Wire Dumex Duslt Thani Faber Merlin First Trust Indo-Thai J And J Ho 193 ♦2 Jalaprathan Cement 84 unch Karnasuta 37S unch Lee Kwang
      82 words
    • Article
      Milan
      149 7 MILAN: Stocks eased In thin trading on Thursday with operators awaiting new developments In debate over the government's economic policy, bourse sources said Leading industrial and financial stocks eased. Fiat fell 1.0 per cent and Generate Immobiliare 2.8 per cent. Montediaon also eased, In spite of Wednesday's announcement of
      149 words
    • Article
      Zurich
      238 7 ZURICH: The market closed Irregularly lower In light trading on Thursday Banks ruled barely steady. Among mixed flnanclals Mikron Improved while registered stocks of Bally and Landis lost ground. Insurances were steady apart from firmer Neuchateloise and easier National which fell on profit taking. The Credit Suisse Index fell
      238 words
    • Article
      Sydney
      409 7 SYDNEY: The market closed mixed on Friday with energy stocks in demand and banks and retailers weak, dealers said The Sydney All-Ordinaries Index fell 1.31 points to 438.51. BHP rose 14 to 7.52 on Its 41 percent first half profit rise. Pancontinental closed easier after a firm opening but
      409 words
    • Article
      Indices
      69 7 FINANCIAL TIMES INDUSTRIALS Thursday 406.0 Wednesday 406.1 Week Ago 390.7 DOW JONES AVERAGE INDUSTRIALS Thursday 047.14 Wednesday 952 78 Week Ago 954 54 LONDON DOLLAR PREMIUM Thursday 103'i to 103 J Wednesday loi'i to 102% H.K. HANG SENG Thursday 433 39 Wednesday 432 58 Week Ago 433.31 SYDNEY INDUSTRIALS
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      176 7 Confront Singapores 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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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber market
      550 8 AFTER a higher opening, following London advices In the Singapore rubber market yesterday, March was traded at a high of 200.50 cents on weekend covering. Trading Interest extended to the April paper, running at about a 4.50 cents premium over March. Physicals, however, were neglected. Turnover was active.
      550 words
    • Article
      SSR and SMR
      101 8 DAILY SSR and SMR price* at noon yecterday: Feb Mar R.A.S. (Correal Mth) (Forward Mth) Buyers 9* liar* Buyer* Seller* (oral perk*) (eei it* per kg) SSR 20 (1—ton Pallet) 189 00 190.00N 190.50 191.SON SSR 50 (1—ton Pallet) 186 50 1ST.SON 188.00 189. OON M.R.E.L.B. SMRSCV
      101 words
    • Article
      Lead
      48 8 LbNDON, Frl. Lead eased by 12.75 per tonne for Cash and £3.50 for Three Months. The market was undermined by the trend In copper, dealers said, with profit-taking and end-week liquidation taking Three Months dowt. to £356.50 per tonne before some covering and fresh buying steadied values.
      48 words
    • Article
      Zinc
      45 8 LONDON, Frl. Zinc lost mostly £8 per tonne. Prices worked lower under hedge selling and some stoploss orders, which pushed Three Months down to £417 per tonne In second ring dealings. Light covering steadied the kerb, however, with Three Months finally trading at £418.50.
      45 words
    • Article
      Straits tin
      189 8 THE Straits tin price In Penang yesterday was up $23 to $1,519 on an official offering up 62 tonnes to 249 tonnes. In LONDON yesterday, tin closed about £2 down for Cash and £10 lower for Three Months In both contracts at the mid-day closing. Following the further
      189 words
    • Article
      Closing prices
      30 8 Rubber: Feb 4 Singapore: Feb. 200.25 cts (up 3.25 cts) Malaysia: Feb. 205.25 cts (up 2.50 cts) Tin: $1,519.00 (up $28.00) Official offering: 249 tonnes (up 62 tonnes)
      30 words
    • Article
      Tin shipment
      74 8 SHIPMENT of Strait* Refined Tin for the period of January, 1977. This Period Destination Shipped Afloat Afloat Tonnes Tonnes Tonnes Africa Australasia 2.00 2.00 Canada o i JT'82 5.00 Continent 2,177.00 880.00 2,177.00 India 164.25 2.50 164.25 Japan 1,027.00 26.75 1,027.00 West Asia 78.50 76.50' Pacific 105.00 155.00
      74 words
    • Article
      Palm Oil
      116 8 THE following Palm Oil prlcee wert quoted in London on Thuraday. The price* are elf Rotterdam and are quoted In US dollar per ton unleee otherwiee stated. Thursday Pre*. Malaysia 9* ffa bulk Apl/May 909 ilr Wtir Sumatra 5H Jan unch 477.90 air Feb unch 495 tlr Mar
      116 words
    • Article
      Produce prices
      254 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk Hi Milan, old drum MO tellert. new drum MS teller*. Copra Mixed (loow) UK/ Cont MS buyer*. Pepper: Muntok AST A white fob 100% NLW $350 teller*. Sarawak white f.o.b. MH NLW M3O teller!, Sarawak
      254 words
    • Article
      Gold
      363 8 IN the Singapore (Old market yesterday, the kllobar changed hands in the range of 8*10.540 to 5510,580. On loco London, the metal stayed at U*****.50/ 133.00 In lacklustre trading. The London morning fix was U*****.40 down $0.60 on the previous fix. Source: Sincmti. The Singapore Chinese Oold and Silver
      363 words
    • Article
      Copper
      227 8 LONDON, Frl. Copper wlrebars fell by mostly £10 per tonne. Dealers said values eased on the pre-maricet under modest liquidation prompted by the overnight New York trend and expectations of a further moderate rise in warehouse stocks this Three Months traded down to £857, but small pockets of continental
      227 words
    • Article
      Silver
      99 8 LONDON, Frl. Silver sagged by Vi to 2.1 pence per troy ounce, in featureless trading Lower gold and the trend in base metals were factors contributing to the subdued tone. Trading Interest remained light, with carries accounting for about half the turnover of 76 lots. Three Months finally traded
      99 words
    • Article
      Coffee
      262 8 LONDON, Frl. The terminal opened around £10 lower, but then values fluctuated as local dealer and commission house buying were met by scattered selling. values ended the session £19 to £31 per tonne up from Thursday night. May opened at £2,840 traded, rose to £2,855, but flnallv settled back
      262 words
    • Article
      Cold spell affects rubber trading
      336 8 IN CONTINUATION of last week's trend, quieter and easier conditions have prevailed In the Singapore and Malaysian rubber markets, precipitated by the Arctic spell in North America and consequent industrial slowdown. After an uncertain start, levels slipped back some 4to cents overall, to below the
      336 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        523 8 THE Singapore domestic money market saw erratic movements In the overnight counter yesterday, following spurts of isolated bids from borrower banks to cover withdrawals from the banking system. From the opening l*vel of three per cent to 2% per cent, overnight funds rose to 3 Vi per cent during
        523 words
      • Article
        Asian $ rates
        147 8 Asian rates ASIAN currency depoalt Interbank rate* u at cloac on Feb 4. ■US Dollar* (Spot) Offer Bid 7 day* 1 mth 2 mth* 3 mth* 6 mth* 9 mth* 12 mth* 43/4 49/8 4 7/8 43/4 9 47/1 .51/4 s i/a 51/4 5 5/8 57/8 61/4 61/1 Bw. Frm
        147 words
      • Article
        Discount market
        43 8 RANOE on DTI ces offered by dlscount houses on Fet> 4. Overnlfht 3S Call deposit 2* to JH Buy Selllaf 9-Month Treasury bills si/ie 115/14 3-Montn BankMils 41/1« 3 15/14 S-MonthaCD 41/4 4i/a 8-MonthsCD 4 1/1 4M Source: National Discount Co
        43 words
      • Article
        Treasury Bills tender
        179 8 REBULTB of Treasury Bill* lender held on Feb 4 for: a) 01-day Treasury Bills to be tamed from Feb 7 to Feb 11 Offered: $20 million. Applied for: tSS.7aO.OOO Allotted: $30 million. Accepted blda: $90.26 approxl{n'fuif 73 P r cenl; hl her b,(J Average rate of discount
        179 words
      • Article
        London
        212 8 LONDON, Frl. The dollar opened with modest losses in Europe, matching its fall In New York overnight, dealers said. The U8 currency retreated to 2.4172/82 marks from 2.4205/15 marks overnight, while sterling was about unchanged at $1.7135/38 from $1.7134/37 previously. The dollar's fall appeared linked with the uncertainty over
        212 words
      • Article
        New York
        105 8 NEW YORK, Thurs. The dollar eased against most currencies after news of sharply lower US money supply figures, dealers reported. Until then, trading had been featureless, they said. The mark closed at 41.31/32 cents after 41.29/30 cents at the opening when compared with Wednesday night's 41.37/39 cents. The
        105 words
      • Article
        Tokyo
        155 8 TOKYO, Frl. The US dollar for overnight delivery closed In quiet trading at 288.15 yen, down from 288.20 yen at the opening, and up from 288.10 yen at yesterday's close, after fluctuating in a narrow range, dealers said. The dollar's Initial rise, owing to limited buying of the unit
        155 words
      • Article
        Hongkong
        80 8 HONGKONG, FYI. The US dollar closed at HK54.6475/85, slightly below yesterday's $4.6520/40, after opening lower on its overnight weakness and trading quietly throughout the day, dealers said. Ail other currencies were featureless and ended around New York levels, they ,added. HONOKONO banknote* quoted on Feb 4 US 4 63/4
        80 words
      • Article
        Euro $ rates
        146 8 Euro rates LONDON, Frl. Most Eurodollar deposits opened unchanged from last night's closing although a few periods were around 1/16 easier, dealers said. Early trading was quiet, continuing the recent trend. Dealers noted a slightly offered tendency In early Crlod trading, with funds ndlng to come Into the middle of
        146 words
      • Article
        Minimum lending rates (in %)
        63 8 Minimum lending rates (in ACBC 6* First Chicago 6* Algemene Bank Citibank 6* Bangkok Bank Bank of America .7% HSBC 7 6* Indosuez 6% Bank of China ..7 Malayan Banking 6* Bank of Tokyo 6* Mitsui Bank 6* Bank Negara OCBC 6H Indonesia 7 OUB Chartered Bank 6*. UCB 7
        63 words
      • Article
        Australia/NZ
        51 8 AUSTRALIA/NZ exchanges quoted on Feb 4: Australia: Sterling 0.6377/ 0.8307 US dollar 1.0889/ 1.0841 Ninety-day air mall buying rates: Sterling 0.8649 US dollars 1.1148 Ninety-day forward buying rates: Sterling 0.6517 US dollars 1.0921 New Zealand: Sterling 0.5555/ 0.5524 US dollar 0.9566/ 0.9466 Ninety-day forward rate: Sterling 0.5880 US dollar
        51 words
      • Article
        Zurich
        41 8 ZURICH exchanges closing quotes on Feb 3. US 2.5182-5190 UK 4.3170-3195 Can 2.4615-4635 W Germ 103.93-104.01 Neth 99.46-56 France 50.60-63 Belg 6.78-78-* Denm 42.44-48 Norw 47.41-45 Swed 59.09-14 Italy 0.2854-2856 Austria 14.62-64 Port 7.77-79 Spain 3.65-65-v* Arg 0.85-1.00 Japan 0.87-K-87-*
        41 words
      • Article
        Frankfurt
        33 8 FRANKFURT exchanges opening quotes on Feb 4. US 2.4180/05 (2.4210/15) Can 2.3655/75 UK 4.140/155 Neth 95.57/72 Swltz 96.12/27 Italy 2.740/755 France 48.57/72 Norw 45.52/60 Belg com 6.520/535 Belg fin 6.51/52 Japan 0.8385/95
        33 words
      • Article
        Eurobond prices
        245 8 LONDON, Frl. Btralght debt bonds tended slightly firmer on short-covering and in sympathy with the harder US market, dealers said. US dollar convertibles were steady In quiet trading. Japanese issues were steady In moderate activity. Eurobond price* quoted on Feb 4 Straight* BM Offer Alan 9*Pc IMS 104*
        245 words
    • Article
      Sugar
      249 8 LONDON, Frl. Terminal opened steady £0.5 to £1 below yesterday's levels in sales of 548 lots. Dealers said most of the losses were recorded on the kerb in line with New York and that this morning, there was no news to encourage fresh Interest. The limited activity mainly involved
      249 words
    • Article
      Wheat
      101 8 CHICAGO, Thurs. Wheat futures finished with gains of 3V4 to 2Vfc cents a bushel, closing toward the high end of a narrow trading range. Prices rose on speculative buying stimulated by strength in soybean futures and firmness in corn futures, with commercial buying lending addltonal support. Corn futures closed
      101 words
    • Article
      Soybeans
      117 8 CHICAGO, Thurs. Soybean futures posted gains of 13 v% to nine cents a bushel at the close of an active trade. Prices advanced as the reports that China bought 150,000 tonnes of Brazilian soybeans. China and the Bovlet Union were active in soybean oil and palm oil markets which
      117 words
    • Article
      Rice
      129 8 BANGKOK. Frl. Indicative prices for rice quoted In Bangkok yesterday were: US dollars per tonne fob basis Bangkok. In HONGKONG, the market was quiet, with prices down 20 cents to 30 cents. The day's turnover totalled 253 tons, comprising Thais 78 tons, Kwangtungs 109 tons and Australian 66 tons.
      129 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      450 8 t f s.^ 11 M 3: .%m .-bfr-Eg-t*B& -Pi r "f 'I M I i*ili il* A k n, »-C£. THE GREAT BOOKS OF WESTERN CIVILIZATION These are the books that had to burn. For within the GREAT BOOKS are volumes that hold the ideas and thinking that challenge the
      450 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon The computers and the criminals
      1688 9  -  As more Malaysian organisations turn to computers, a United States study has shown a big increase in the number of cases of 'computer abuse.' Earlier this month, ICI computer tapes in Holland were removed and a de- mand for £250,000 ransom was made for their
      Financial Times  -  1,688 words
    • Article
      Lock icon Macao Governor opens PATA conference
      159 9 Reuter MACAO. Fri. The Gover- nor. Colonel Garcia Leandro, yesterday opened the Pacific Area Travel Association (PATA) conference here with an affirmation oX his administra- tion's desire to keep on promoting tourism in this i Portuguese enclave. Addressing some 12,y0u I delegates from all over
      Reuter  -  159 words
    • Article, Illustration
      IN PORT
      341 9 EXPECTED ARRIVAL TODAY KEPPEL WHARVES Bunga Gelang (1600 subject free board after Bunga Mas) 18 Dayaka Satu (PLNP) (2300) 29/30 Djatinegara( 1500 draft 9m) 38/39 Erena H3TC) (Clinker) (0700 5 Medln (UKFX) (after Nissei Maru sails Lica Maersk) 35/ 36 Nissei Maru (VJGCV) (Car Carrier) (0600 35/ 36
      341 words
    • Article
      Lock icon London freight market
      173 9 AP LONDON, Fri. The eastern rate tone held steady as further singlevoyage sugar business and varied time-chartering took place yesterday. The rate of US$l7 (FIO) was repeated for three 24.000-tonne bulk sugar movements from the Philippines to the Soviet Black Sea involving one February and two March
      AP  -  173 words
    • Article
      Lock icon Fewer oil tankers, combos laid up
      268 9 Reuter LONDON, Frl. The number of tankers and combination carriers laid up, idle or under repair fell by about 1.3 million long dwt during January, to total 33,281.204 long dwt (371 vessels) on Feb. 1, London shipbrokers Howard Houlder report. The decline continues to
      Reuter  -  268 words
    • Article
      Change of name
      76 9 NSU, one of the foremost multi-transport groups in the world, merged its surface and airfreight forwarding affiliates in the various countries last year under the name Damco International Transport. In line with this change the Singapore office, Rilalr. has adopted the new name, Damco Air. The change
      76 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      609 9 ARRIVALS Service Operator Number Local Time From CPA CAL MAS JAL CAL SIA OIA CPA THAI CX003 CI333 MH682 JL712 CI814 SQ211 OA 980 CX710 TQ423 0145 0040 0810 1000 1000 1010 1030 1030 1035 HKO TPE/HKO/KUL KCH HLP HLP HLP HLP HLP BKK OIA RBA SIA
      609 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      435 9 SINGAPORE CSS n VOL 1 NO I W.'PHICE $300 Cheque/ money order for SMS enclosed. In this issue we feature MANUFACTURING Capitalising on the imagination of women: Fashion is a massive, global industry which caters for the whims of the fairer sex. Apparel and electronics manufacturers wary: Conditions in the
      435 words
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  • Article, Illustration
    New pay increases: The possible effects
    1109 10 Private sector wages may go up as workers want better terms... SOME ECONOMISTS FEAR THE GOVERNMENTS SALARY PROPOSALS FOR ITS EMPLOYEES MAY SET OFF AN INFLATIONARY SPIRAL. NOORJAHAN KARIM DISCUSSES THE ISSUES IN IMPLEMENTING THE PROPOSED SALARY SCHEME ONE OF the thorniest issues in
    1,109 words
  • Article
    Lock icon JAPANESEAUSSIE DISPUTES
    517 10  -  By JULIAN KERR Reuter BILATERAL talks between senior ministers have removed several Irritants In Japanese-Australian relations while confirming the strength of the two nations' trading links. Nevertheless, lingering doubts remain here over the adverse effect of Industrial disputes In Australia on both Japanese exporters and Importers. These doubts
    Reuter  -  517 words
  • Article, Illustration
    Lock icon China chalks up a surplus in trade with US
    1053 10  -  By FOX BUTTERFIELD NYT LAST year, for the first time since the United States resumed trade with China in 1971, China ran a surplus in the two-way trade, as American businessmen tried to attract those everalluring but somehow hard-to-reach 800 million
    NYT  -  1,053 words
  • Article
    Lock icon Potent mixture spells ruin for South Africa
    704 10  -  By JOHN BURNS NYT "APARTHEID, combined with monumental stupidity and incompetence on the part of those In charge of the country's economic and financial affairs, has brought South Africa to the brink of economic and financial ruin. We must make no mistake about
    NYT  -  704 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      316 10 NEW DIRECTIONS The magazine that actually says what you have been thinking all along. New Directions quarterly was born in late 1973 and has since then quietly set about its task to enhance the intellectual dimate in Singapore, to stimulate the spirit of debate and to cast light on major
      316 words
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  • MARKET REVIEW
    • Article
      Company news for the week ended Feb 4
      436 11  -  Compiled by RONALD LAM OTHER ANNOUNCEMENTS Associated Plastics Industries has subscribed for 1,226,000 MSI shares or 81.5 per cent of the equity in Flexipak. Flexlpak is a joint-venture between API and Rhone Poulenc of France and its main activities would be the
      436 words
    • Article
      SINGAPORE
      664 11 MUCH against general expectation, Singapore's pilot option trading scheme got off to a fairly good start at the stock exchange this week. Singapore is the fourth country in the world after America, Canada and Australia to have introduced organised call option trading in the security market. And the response
      664 words
    • Article
      Lock icon VOTE BY NYSE TO REPEAL OLD RULES
      141 11 AP NEW YORK, Fri. The board of directors of the New York Stock Exchange voted yesterday to repeal some old rules regarding nationality and participation that have prevented foreign broker-dealers from becoming members. The full NYSE membership is scheduled to vote on March
      AP  -  141 words
    • Article
      Lock icon Soviet team in
      70 11 Reuter HONGKONG, Frl. A Soviet merchant marine delegation has arrived In Hanoi to discuss bilateral co-operation In navigation, the Vietnam News Agency reported. It said the delegation was led by Vlce-Mlnlster of the Ministry of Merchant Marine, S.A. Lukyachenko. but did not say when It arrived. The
      Reuter  -  70 words
    • Article
      BULLISH MOOD IS IN VOGUE
      675 11  -  LONDON «y IVAN FALLON LONDON Is at the beginning of Its biggest bull market since the war so an ln-» creasing number of people believe here. On Friday last week, the Financial Times Index whipped up through the 405-level with an extraordinary surge of 12.5
      675 words
    • Article
      Genting's golden hopes
      335 11 HARRISONS and Crosfield got the upper hand in its battle with Genting Highlands when it (and its merchant bankers. Barings) re-structured Its scheme for the merger of the "Three Sisters" last month. Last week. Genting (and Rothschilds) came back into the fray with a 96p a share
      335 words
    • Article
      Guthrie Malaysianises
      179 11 HARRISONS is not the only British plantation company which Is reorganising its Malaysian Interests Guthrie too has been busy. This week It disclosed a complex structure which fits into Malaysia's new economic policy. It Is not as dramatic as Harrisons' plans nor is It open to the same
      179 words
    • Article
      KUALA LUMPUR
      446 11 WITH no Incentive to generate buying Interest, trading at the Kuala Lumpur Stock Exchange continued in lacklustre fashion this week. And share prices fell further. Price movements were narrow as volume continued to shrink in the light of the easier trend noted in such overseas markets as Wall
      446 words
    • Article
      Lock icon Fed won't change M-1 supply target
      644 11 Reuter WASHINGTON, Fri. Federal Reserve Board chairman Arthur Burns said the Board has decided to leave unchanged its growth target for the narrowly defined money supply (M-l). But he said he reduced slightly the lower boundaries of its targets for the broader monetary aggregates.
      Reuter  -  644 words
    • Article
      S'pore joins world customs body
      97 11 SINGAPORE has joined the Customs Co-operation Council (CCC), a world-wide customs organisation, which has a standard trade classification recognised In more than 80 countries, to facilitate International trade. The move Is expected to ensure a ready market for Singapore goods In foreign countries, through the
      97 words
    • Article
      Lock icon Sterling pact almost ready
      149 11 Reuter ZURICH, Fri. Central Bank governors are expected to put the finishing touches on last month's sterling balances agreement when they meet at the Bank for International. Settlements next Monday and Tuesday, informed European sources said. The agreement calls for a US$3 billion(Ss7.3s billion) safety net
      Reuter  -  149 words
    • Article
      Mail order firms say it's unfair
      125 11 MAIL order companies have described as unfair, the call made recently by the Consumers' Association of Singapore against buying through the mail order system. They said that it is not always the mall order agency's fault if subscribers failed to receive their goods. Some
      125 words
    • Article
      Lock icon 'Devaluation will up inflation'
      149 11 Reuter PARIS, Fri. Auatralia's recent devaluation is likely to increase inflationary pressure but should improve its payments position and provide some boost to demand, the Organisation for Economic Cooperation and Development said. In a special report it aaid the future development of the Australian economy depends
      Reuter  -  149 words
    • Article
      Lock icon SYDNEY
      362 11 Reuter SHARE prices at the Sydney Stock Exchange moved against a background of several new developments this week, but at the closing bell the general market tone was subdued. The holiday-shortened session saw the introduction of Joint trading between Melbourne and Sydney, a move that was widely welcomed by
      Reuter  -  362 words
  • Page 11 Advertisements
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      Page 11 Advertisements Column 1
      630 11 APPOINTMENTS data prep/iw data general MEMO TO: Software Professionals/Computer Engineers FROM: The Personnel Manager Dataprep (S) Pte. Ltd. 2nd Floor, Marina House, Shenton Way. Singapore 2. Tel: *****11(5 Lines) In five years Dataprep has grown to 160 employees in S.E Asia and last year our sales exceeded $10 million As
      630 words
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      Page 11 Advertisements Column 2
      136 11 RELATIONS MANAGER A major public Company invites applications for the position of' Public Relations Manager. A background in journalism, law and/or public relations work would be advantageous, but of most importance is a demonstrable understanding of the communications process and an ability to communicate both orally and in written The
      136 words
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  • Article
    Lock icon Air Siam sues Thai ministry for $61 mil
    240 12 AP BANGKOK, Frl. Air Slam, the troubled airline which lost Its operating licence by order of the Thai Cabinet, filed suit today for nearly US$25 million (Ss6l million) against the Thai Communications Ministry and its chief official. An Air Slam spokesman said
    AP  -  240 words
  • Article
    Restraint on choc firm is off
    152 12 HIGHLAND Chocolate, subject of a recent Injunction file by another local chocolate manufacturer, has successfully appealed against the motion. Allied Chocolate, licensee in Singapore for the Van Houten Brand of chocolate, two weeks ago sued Highland Chocolate on behalf of the Dutch company for
    152 words
  • Article
    Jump in Japanese tin purchase
    164 12 FIGURES Just published by the Straits Trading Company in Singapore show a sharp change in the distribution of Malaysia's exports of refined tin during 1976. Although tin exports as a whole increased by slightly less than five per cent to 82.108 tonnes, Japan's offtake from
    164 words
  • Article
    MORE WITHDRAW CPF TO BUY HOMES
    102 12 WITHDRAWAL of Central Provident Fund (CPF) balances by members under the Home Ownership scheme amounted to $241.2 million in the first 11 months of last year. This Is almost twice the 1975 total of $134.8 million. The withdrawals, which now run at an average
    102 words
  • Article
    LONDON STOCKS
    728 12 LONDON. Frl. The stock market closed easier after a moderately active session and at 3 p.m.. the Financial Times Index was down 4.1 at 401.9. Yesterday's Bank of England action to check the slide In Interest rates prompted profittaking. dealers said Government bonds were volatile with short dated
    728 words
  • Article
    Lock icon ANTI-RED DRIVE ENDS TODAY
    545 12 'A BIG SUCCESS' Reuter AP PADANG BESAR, Frl. Current Joint operations by 3,500 Malaysian and Thai troops against communist guerillas in Thailand's Sadao district will end tomorrow, following their capture of a communist command base and disruption of guerilla sanctuaries, It was announced here today. Lieutenant-General
    Reuter; AP  -  545 words
  • Article
    Parker to set up plant in S'pore
    153 12 PARKER Hannifin, the manufacturer of fluidpower systems and components used in* industrial, aerospace and automotive products, intends to set up a plant in Singapore. Mr. Jim God sell, managing director of its recently set up Singapore office, said that the company in the
    153 words
  • Article
    Don't put off building maintenance advice
    129 12 THE longer maintenance to a building is postponed, the greater the amount of work to be done. Not only will maintenance be needed to bring the building back to original standards, but there will also be increasing user-expectations to catch up with. This was
    129 words
  • Article
    Interest-free loans
    75 12 THE Ministry of Social Affairs yesterday announced the launching of a selfemployment assistance scheme to help public assistance recipients, and other poor people, who need capital to set up small businesses. The successful applicant will receive a loan of up to $1,000, free of interest and repayable over
    75 words
  • Article
    'Scan Queen' launched
    65 12 "SCAN Queen", the fourth "Chancellorsvllle" classi drillshlp built by Far EastLevlngston Shipbuilding, will be launched today. The owner of the ship Is Hope Shipping of Monrovia, Liberia, and Scan Drilling of Singapore has been appointed manager of vpq^Pl This self-propelled drillship can operate in unprotected waters up
    65 words
  • Article
    D and E sues
    60 12 DEEKES and Evans, a British incorporated company, yesterday sued Seng Bee Hang(as a firm) for $530,925 allegedly under bills of exchange, and Associate Merchant Bank filed a writ against Four Star Catering for $33,742, allegedly due under a bill of sale. A writ was also filed
    60 words
  • Article
    Lock icon HK imports 5 times more gold last year
    445 12 Reuter HONGKONG. Fri. Hongkong's gold bullion imports rose to a record level of slightly more than 3,715,000 ounces in 1976, more than five times the 1975 total of 691,000 ounces, government officials told Reuters. Gold bullion re-exports dropped slightly to 388,400 ounces
    Reuter  -  445 words
  • Article
    'Banks can be of much help to manufacturers'
    288 12 BANKS, with their worldwide connections, expertise and knowledge, can play an important part in helping Singapore manufacturers, as well as In the overall Industrial development of the Republic. Mr. Ong Leng Chuan, chairman of the Singapore Manufacturers' Association, said yesterday that they
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  • Article
    Lock icon 'Smaller rise in investment'
    278 12 Reuter TOKYO, Frl. Japan's private sector capital investment in the first half of this year will rise 7.2 per cent to a seasonally adjusted 6.40 trillion yen (Sss4 billion) compared with the second half of 1976, when it rose 11.9 per cent an Economic Planning Agency
    Reuter  -  278 words
  • Article
    Lock icon Depression if tin is released
    141 12 Reuter LA PAZ, Frl. Release of 30,000 tonnes of tin from the US stockpile would cause a depression in the world tin market despite current high prices, Bolivian Planning and Co-ordination Minister Juan Lechin Suarez said here. He was commenting on a Bill introduced in
    Reuter  -  141 words
  • Article
    Lock icon Boycott of beer starts
    123 12 AP KUALA LUMPUR, Fri. A nationwide boycott of beer tales has begun to protest high prices imposed by breweries, merchant official said today. One brand of beer has been picked for the boycott and if the breweries don't decrease prices, the boycott will be extended to
    AP  -  123 words
  • Article
    Lock icon Group is against BP share sale
    125 12 Reuter LONDON. Frl. The British Labour Government Is under pressure from a small group of ministers to think again about its plan to sell off nearly £700 million (552.9 billion) worth of shares in the giant British Petroleum (BP). Informed sources said today opposition
    Reuter  -  125 words
  • Article, Illustration
    Why factory workers shy away from union membership
    696 12 WORKERS In the manufacturing sector appear to be the most worried about becoming unionised, for fear of victimisation by employers. This, apart from a host of other reasons, Is reflected in the lowest percentage increase of organised members in this sector, among
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  • Article
    Lock icon Manila earns more from lumber
    205 12 AP MANILA, Frl. The Philippines' export of plywood and lumber brought in U*****.5 million (Ss3ls million) worth of foreign exchange last year, an increase of almost $76 million over 1975, according to a Department of Trade report published yesterday. The department said based on export
    AP  -  205 words
  • Article
    Lock icon Forecast of Japan power needs
    123 12 Reuter TOKYO, Frl. Japan will need at least 100 million kilowatts of electricity in the year 2000. a Japanese researcher said yesterday. Mr. Naokl Neglshi of the Private Industrial Research Institute told an energy problems symposium here that Japan would require at least 156 nuclear
    Reuter  -  123 words
  • Article
    Lock icon DISRUPTIVE FORCES AT WORK AGAIN — INDIRA
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    Reuter  -  399 words
  • Article
    Lock icon World Bank loans
    107 12 Reuter WASHINGTON, Fri. The World Bank said it Is making a total of USSIS6 million (SS3B2 million) In development loans to Indonesia, Pakistan and the Philippines. The Bank Is lending SI 16 million to Indonesia to improve electric power generating capacity in Java, while Pakistan Is receiving
    Reuter  -  107 words
  • Article
    Lock icon Bangkok resign rumours die down
    138 12 UPI BANGKOK. Fri. .Attempts to exploit > split in the Thai military have apparently failed for the moment, and official spokesmen and media indicated today a change of government in Thailand was unlikelyTension and rumours swept Bangkok yesterday when a strident, right-wing military radio station
    UPI  -  138 words
  • Article
    Lock icon Lift trade barriers call to Asean
    118 12 AP KUALA LUMPUR. Frl. A leading businessman has called on member countries of the Association of Southeast Asian Nations (Asean) to remove internal and external trade barriers to promote regional trade. Mr. A.J. Summber, director of the Sime Darby Holdings, which has Interests in
    AP  -  118 words
  • Article
    Lock icon NZ team for Peking
    64 12 Reuter WELLINGTON. Fri. A seven-man New Zealand parliamentary delegation is to visit the Peoples Republic of China in April, Government officials said. The group will be led by the Speaker of the House of Representatives, Mr. Roy Jack. The parliamentarians will travel to Europe at the
    Reuter  -  64 words
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      267 12 FEBRUARY 7 ISSUE CARTER'S ECONOMIC BOOST Chairman Charles Schultze of the Council of Economic Advisers predicts that the Carter package would boost real growth in the gross national product by a full percentage point to between 5.5 and 6 per cent by the end of 1977. At the same time,
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