The Business Times, 15 February 1977

Microfilm: NL8986
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 TUESDAY, FEBRUARY 15, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Carry on probing
      60 1 UPI JAKARTA, Mon. Indonesia's President Suharto today ordered Investigations Into bribery allegations In the Hughes Aircraft satellite project to be continued, Minister of Communications Emll Sallm said today. He said complete results may be announced later this month after a report has been received from the General
      UPI  -  60 words
    • Article
      Lock icon Jolt for Tokyo
      51 1 Agencies TOKYO, Mon. A moderate earthquake shook Tokyo and its vicinity at 6.08 p.m. today, the Tokyo central meteorological agency said. There were no reports of damage or casualties. It registered three on the Japanese scale of seven. A mild earthquake also shook Pakistan's capital, Islamabad, today.
      Agencies  -  51 words
    • Article
      Lock icon Iran is still talking
      56 1 Reuter TEHRAN, Mon. Iran air chairman General All Mohammed Khademi said negotiations are still going on for the purchase of Anglo-French supersonic Concorde airliners. He told a press conference that the situation has not changed since Iran's preliminary agreement two years ago to buy two Concordes
      Reuter  -  56 words
    • Article
      Lock icon Diplomatic economy
      46 1 AP SYDNEY, Mon. The Papua New Guinea government has refused the Soviet Union, China, France and South Korea permission to set up embassies In Its capital, Port Moresby. A spokesman said his government did not have the resources to accommodate any new embassies. AP
      AP  -  46 words
    • Article
      Lock icon Laos joins in
      37 1 Reuter VIENTIANE, Mon. The Laotian government has joined Cambodia in protesting against "attempts by the militarist clique In Thailand to destroy the new Cambodian government," the official newspaper, Sieng Pasasonh, reported here today. Reuter.
      Reuter  -  37 words
    • Article
      Lock icon Thais return planes
      23 1 Reuter BANGKOK, Mon. Thailand today returned to the Laotian government three aircraft used by fleeing Laotian pilots, police said. Reuter.
      Reuter  -  23 words
    • Article
      Manila trade deficit
      31 1 MANILA, Mon. The Philippines suffered a US$l3.9 million (Ss34 million) trade deficit with China in total 1976 two-way trade of $90.4 million, a Department of Trade spokesman said.
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    • Article
      Lock icon Not in one day ...
      43 1 Not in one day UPI SEOUL, Mon. It will take 10 years to construct South Korea's new administrative capital, to be located at a point about one hour's drive from Seoul with a population of about 500,000, Premier Choi Kyu-hah said today UPI
      UPI  -  43 words
    • Article
      Lock icon Podgorny's visits
      31 1 AP LUSAKA. Mon Soviet President Nikolai Podgorny is scheduled to visit Zambia and other east African nations during the second week next month, the Soviet embassy here announced. AP
      AP  -  31 words
    • Article
      Lock icon Dow Jones
      45 1 UPI NEW YORK, Mon. Dow Jones averages, based jn the first hour of trading today on the New York Stock Exchange: 30 indust 930.77, down to 0.75; 20 transp 223.79, down 0.45; 15 utils 105.92, down 0.16; 65 stocks 305.72, down 0.38. UPI.
      UPI  -  45 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      169 1 TRADING at the Stock Exchange of Singapore yesterday remained dull as buyers continued to stay on the sidelines. Options trading was also lacklustre. The Business Times Index fell one point to 263.09 while the Straits Times Industrial average shed 0.49 point to 254.72. Falls Most active Dunlop
      169 words
    • Article
      In Kuala Lumpur
      117 1 Falls Most active J. Kuan tan $1 60 -.30 Inchcape 117,000 Malaya wata SI 59 -.06 Haw Par 82,000 S Trading $5.55 -.05 Unlllte 55,000 O.C.B.C. $7.65 -.05 Central Sugars 54,000 U.O.B. S3.40 —.04 Total Turnover: 0.90 M S Merlin SO 98 —.04 Total Value: M$1.77 M
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  • Article
    Lock icon Politician found guilty of fraud, bribery
    231 1 UPI TEL AVIV, Mon. The Tel Aviv district court convicted one of the most powerful politicians in Israel of bribery, fraud and tax evasion today after he confessed to giving the misappropriated money to Prime Minister Yitzhak Rabin's Labour Party. The government-run National Radio
    UPI  -  231 words
  • Article
    Lock icon New walkouts in Holland strikes
    235 1 UPI THE HAGUE. Mon. Holland's largest strike action since the Second World War expanded and went Into Its second week despite a partial agreement reached over the weekend. New walkouts ordered by the unions hit two container firms employing 1,000 dockers in the Rotterdam port.
    UPI  -  235 words
  • Article
    Order trends in Japan spell trouble for our yards
    753 1  -  By TERESA LIM THE current trend in newbuilding orders with Japanese yards, if it continues. spells trouble for shipyards In Singapore for it will mean substantial cuts into the business of yards here. The latest issue of the Japan Ship Machinery
    753 words
  • Article
    Lock icon Need for Japan to solve US trade problems
    227 1 UPI TOKYO. Mon. Deputy Foreign Mlnlfter Bunroku Yoshlno today stressed the need for Japan to promptly solve major outstanding trade problems with the United States. Mr Yoshlno, who returned from a visit to the United States and Britain yesterday, told a news
    UPI  -  227 words
  • Article
    Lock icon KHMERS: THOSE VILLAGES ARE OURS
    135 1 Reuter PEKING, Mon. Cambodia has claimed that three hamlets In which its troops are reported to have killed 30 men, women and children last montharepart of Cambodia and not Thailand. it was learned today. Rejecting a Thai protest note on the massacre, Phnom Penh has
    Reuter  -  135 words
  • Article
    KL stopover for SIA on Singapore – London run?
    497 1 KL stopover for SIA on Singapore London run? SINGAPORE Airlines Is planning to use Kuala Lumpur as a stopover to pick up passengers for Its Jumbo Jet flights to London. SIA, according to airline sources, has pick-up rights In Kuala Lumpur in the air services agreement between the two governments.
    497 words
  • Article
    Lock icon US dollar plunges against the yen
    180 1 AP TOKYO, Mon. The US dollar plunged to a 32month low against the yen today on continued heavy dollar selling by Japanese exchange banks and exSorters who anticipated apan's exports would stay high for the present. Another factor behind the drop was weekend news
    AP  -  180 words
  • Article
    UMNO YOUTH'S CALL
    87 1 KUALA LUMPUR, Mon. The youth wing of the ru 11 n« United Malay National Organisation (UMNO) today called for the expulaion ot two former deputy ministers from Umno and their resignation from Parliamentary seats for their involvement in pro-commu-nist activities. Acting Umno Youth pre- sident Suhaimi Kamaruddin
    87 words
  • Article
    Singapore should adopt a more regional view
    329 1 LEADING academics in Singapore believe that the Asean concept is really taking off at last and that, industrially, Singapore should "take more of a regional perspective" in line with this development. These are among the views which emerge from an "Asia-Pacific" economic and
    329 words
  • Article
    'We should aim for export-led growth'
    511 1 MR. Goh Chok Tong yesterday said that an export-led growth is the type of growth which Singapore should go for. He was speaking in Parliament as MP for Marine Parade on the addenda to the Presidential address. Raising a number of searching economic questions.
    511 words
  • Article
    Lock icon UK in deep red
    111 1 AP LONDON Mori. Britain's foreign trade plunged deeply into the red last month, the Government announced today, and the news sent the pound reeling on foreign exchanges, while at the stock market the FT index plunged another 10.5 points to 371. The Department of Trade said,
    AP  -  111 words
  • Page 1 Advertisements
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      3 1 SEE PAGE 12
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  • OVERSEAS
    • Article
      Lock icon 'Big jumps in UK jobless unless govt reflates'
      559 2 Reuter LONDON, Mon. The Henley Centre for forecasting suggests the UK government will be forced to take expansionary measures In Its 1979 budget to avoid unemployment rising to unacceptable levels. It forecasts a 1977 current account deficit of only £500 million (552,~100
      Reuter  -  559 words
    • Article
      Lock icon PROTEST STUDENTS SIT TIGHT AT LSE
      125 2 AP LONDON, Mon. About 150 students continued their occupation of the London School of Economics' administration building today, school officials said. The three day old occupation of four floors in the eight-storey building was called to protest government plans to more than triple tuition
      AP  -  125 words
    • Article
      Lock icon Japanese firms urged to set up uranium ventures overseas
      225 2 Reuter TOKYO, Mob. The Ministry of International Trade and Industry said it plans to ask Japanese nonferrous metal, oil, trading and electric power companies to establish an overseas uranium resources mining and development company to deal with an anticipated short supply
      Reuter  -  225 words
    • Article
      Lock icon THE IRON ORE BONANZA
      412 2 UPI CARACAS, Mon. Venezuela, a developing nation with a knack for making nationalisation work, is reaping record profits from its state-run iron ore industry. Since President Carlos Andres Perez ran the Venezuelan flag up over Cerro Bolivar, Venezuela's famed "Iron mountain," on New Year's Day 1975,
      UPI  -  412 words
    • Article
      Lock icon Israel may seek to trade off Arab land
      319 2 AP JERU3ALEM, Mon. Israeli officials during US Secretary of State Cyrus Vance's visit starting tomorrow may revive their proposal to exchange some of the occupied territories for individual no-war agreements with their Arab foes, informed sources report. The Israelis shelved the proposal
      AP  -  319 words
    • Article
      Lock icon Big step forward for satellite broadcasting
      315 2 Reuter GENEVA, Mon. Delegates from some 100 countries today signed an International agreement designed to provide a troublefree technical future for satellite broadcasting. The agreement shares out orbits over the equator and broadcasting frequencies for satellites in every region of the world except North
      Reuter  -  315 words
    • Article
      Lock icon How India may become a nuclear conduit
      460 2 AP CAMBRIDGE, (Massachusetts), Mon. India could take the lid off measures to prevent the spread of nuclear weapons by trading Its technology for oil, suggests a paper prepared with the help of top foreign policy aides of the Carter Administration. The 95-page paper,
      AP  -  460 words
    • Article
      Lock icon Panama talks start
      161 2 AP PANAMA CITY, Mon. The United States is set to resume negotiations today with Panama for a new canal treaty governing the future of the waterway linking the Atlantic and Pacific Oceans. US Ambassador Mr. Ellsworth Bunker and Mr. Sol Llnowltz, who will represent the US during
      AP  -  161 words
    • Article, Illustration
      Lock icon Gromyko outlasts them all on the global stage
      674 2 AP MOSCOW, Mon. Twenty years ago, Henry Kissinger, was a history teacher, Cyrus Vance was a corporate lawyer and Andrei Oromyko was Foreign Minister of the USSR. In the interim, American Secretaries of State have come and gone: John Foster Dulles, Christian
      AP  -  674 words
    • Article
      Lock icon Vietnam spends $2 bil
      91 2 AP BANGKOK. Mon. The Vietnamese National Bank in Ho Chi Mlnh City last year invested more than US$93O million (552,278 million), for economic rehabilitation and development In southern Vietnam, the Vietnam News Agency (VNA) said today. The dispatch, monitored in Bangkok, said that the bank provided
      AP  -  91 words
    • Article
      Lock icon Suarez better armed for opposition talks
      321 2 Reuter MADRID. Mon. Prime Minister Adolfo Suarez today resumes negotiations with opposition leaders about Spain's path to postFranco democracy with his hand strengthened by last week's police rescue of two kidnapped officials. The negotiations are threatened by the thorny issue of whether they should
      Reuter  -  321 words
    • Article
      Lock icon 'Gaddafi has a hand in Egypt riots'
      210 2 UPI CAIRO, Mon. A senior official accused the Llby&n government of Colonel Muammar Gaddafi yesterday of encouraging communist subversion In Egypt and teaming up with Moscow to launch a propaganda war against this country. The charge was triggered by a statement, Issued by
      UPI  -  210 words
    • Article
      Lock icon Loans for Seoul projects approved
      130 2 Reuter SEOUL, Mon. The South Korean Government's foreign capital inducement committee said it approved a U*****.4 million (*****.8 million) loan from Mitsui Bussan of Japan and a $41.06 million loan from Barclays Bank of Britain for industrial development projects in the country. The Mitsui loan
      Reuter  -  130 words
    • Article
      Lock icon 15pc wage rise limit
      48 2 Reuter LISBON, Mon. Portuguese wage Increases will be limited to 15 per cent up to the end of this year, according to a government decree published In the official journal, Diarlo Da Republlca. The only exceptions will be officially authorised collective agreements, It said.
      Reuter  -  48 words
    • Article
      Lock icon C-Market studies proposals for higher food prices
      348 3 Reuter BRUSSELS, Mon. Common Market ministers today examined new proposals for higher food prices which have already brought protests from farmers who believe the increases are not large enough. Agriculture and finance ministers will begin separate meetings to examine an average three per
      Reuter  -  348 words
    • Article
      Lock icon EEC wants British £ devalued
      246 3 EEC wants British devalued BRUSSELS, Monday Reuter THE European Economic Community commission said It proposed the British "green" pound should be devalued by eight percentage points to help restore unity to the common agriculture policy. It said the average rise In guaranteed prices to farmers would be three per cent
      Reuter  -  246 words
    • Article
      Lock icon 'Japanese growth will be maintained'
      186 3 Reuter LONDON Mon. International Economic Consultants, the economic models group of companies, forecast Japan will maintain an annual average growth in real gross domestic product of 5.1 per cent in the years 1977-1982, unchanged from the annual average for the years *****976. In its international
      Reuter  -  186 words
    • Article
      Lock icon Foreign investment in Australia
      200 3 Reuter CANBERRA, Mon. America Ambassador James Hargrove said Australia's industrial relations must improve before substantial new foreign investments could be justified. He told the National Press Club here there were three other prerequisites: The division of benefits between labour and capital In Australia must be such
      Reuter  -  200 words
    • Article
      Lock icon EFTA ministers meet in Stockholm
      128 3 UPI STOCKHOLM, Mon. Twelve ministers representing eight European countries began arriving yesterday for a special twoday meeting of the consultative committee of the European Free Trade Association. The ministers were invited by the members of the committee representatives of industry, trade unions, trade associations, agriculture
      UPI  -  128 words
    • Article
      Lock icon Talks on return to unified Opec prices
      310 3 AP VIENNA, Mon. The oil cartel's economic commission began meeting here today to discuss proposals for a return to unified pricing, an informed source said yesterday. Eleven members of the Organisation of Petroleum Exporting Countries decided in December to raise prices 10 per
      AP  -  310 words
    • Article
      Lock icon NBC agrees to pay $4.8 m for women staff
      151 3 Reuter NEW YORK, Mon. The New York Times said yesterday that the National Broadcasting Company had agreed to pay US$2 million (SS4.B million) to its women workers to settle a sex discrimination lawsuit. Both the network and lawyers for the women,
      Reuter  -  151 words
    • Article, Illustration
      Lock icon Saudi-Kuwait plan to help Egypt's economy
      571 3 CAIRO, Monday UPI TWO of the Arab world's richest oil-exporting countries, Saudi Arabia and Kuwait, are making plans to bolster Egypt's ailing economy following last month's food price riots which left behind hundreds of casualties. But a third 011-rlch country Libya remained locked In
      UPI  -  571 words
    • Article, Illustration
      Lock icon Relief for Americans hardest hit by the severe winter
      351 3 UPI WASHINGTON, Mon. Budget director Bert Lance said yesterday he believes the economy will "recover at a fairly healthy clip" despite the heavy impact of bad weather on Jobs and prices. He said the Administration still Is considering some sort of
      UPI  -  351 words
    • Article
      Lock icon 'INCREASE DEFENCE SPENDING' APPEAL
      305 3 Reuier MUNICH, Mon. British Defence Secretary Fred Mulley yesterday urged wealthier Nato states to Increase defence expenditures which Britain is slashing, and warned of an excessive Western enthusiasm for detente and disarmament. Speaking at an International defence symposium sponsored by the publishing house Europaeische Wehrkunde (European
      Reuier  -  305 words
    • Article
      Lock icon France extends its economic maritime zone
      207 3 UPI PARIS, Mon. France on Saturday extended Its "economic maritime zone" to 320 km off its coasts on the English channel, the North Sea and the Atlantic, the official government news bulletin Journal Officiel said. The move to extend the zone was made after
      UPI  -  207 words
    • Article
      Lock icon Ceiling on interest rates up
      86 3 Reuter KUWAIT, Mon. The Kuwait Government said it decided to lift the current seven per cent celling on bank Interest rates. A government spokesman said the maximum rate allowed will be 10 per cent for deposits of more than 12 months, 8.5 per cent for
      Reuter  -  86 words
    • Article
      Lock icon Sol rate
      28 3 Reuter LIMA, Mon. The Peruvian Central Reserve Bank said It adjusted the sol downwards to 71.68 to the US dollar over the weekend from 71.52 previously.
      Reuter  -  28 words
    • Article
      Lock icon 'Reducing speed of aircraft saves fuel'
      225 3 AP WASHINGTON. Mon. Conservation measures such as reducing the speed of Jets enabled airlines in the United States to use 800 million fewer gallons of fuel in 1976 than in 1973 while carrying 21 million more passengers and more cargo. The figures were announced
      AP  -  225 words
    • Article, Illustration
      Lock icon Soares begins West European mission
      465 3 Reuter LISBON. Mon. Portuguese Prime Minister Mario Soares begins a West European tour in London today, convinced he can win support for his country's entry Into the Common Market. At a weekend meeting of the national committee of his socialist party, Dr. Soares voiced optimism
      Reuter  -  465 words
    • Article
      Lock icon London chosen as summit venue?
      102 3 Reuter TOKYO, Mon. London seems to have been chosen as the site for the next summit conference of industrial nations, chief Cabinet secretary Sunao Sonoda said. He told a press conference the proposed conference was likely to be held Immediately or some time before the
      Reuter  -  102 words
    • Article
      Lock icon $720 m loan
      24 3 Reuter LISBON. Mon. The US has ratified a US$3OO million (SS??0 million) emergency lOitu to Portugal, a government communique said. Reuter.
      Reuter  -  24 words
  • Page 2 Advertisements
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      203 2 Have >du iSot >Dur c(^offliel976/J7 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INDEX CLASSIFIED TRADE SINGAPORE GENERAL BANKS BRUNEI AND BANGKOK GENERAL OFFICIALS AND PUBLIC BODIES INFORMATION It's the 1976/77 "Red Book" the office/library reference book covering the business scene in Singapore. It is complete. Built
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      3 2 (See Page 10)
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      349 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on Feb 14 at Singapore airport. Maximum temperature 29.4° C Associated humidity 70 Minimum temperature 23.5° C Associated humidity 91 Hours of sunshine 4.90 Rainfall in millimetres 9.5 Total rainfall for the month 74.4 Total rainy days for the
      349 words
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      3 3 See Page 12
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      149 3 > ~Jj Flexible working hours is going to concern more and more people in 1977. How about you? With shift work, traffic and CBD restrictions, more and more companies will be forced to adopt flexible working hours for their employees. ITR Flexi is a revolutionary system for recording flexible working
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  • Page 4 Advertisements
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      458 4 How advertisers can mount a campaign aimed at businessmen Tactical information from Business Times u. t 3. Shotgun approach beware. Be careful about spreading your message across too many publications. This approach is called the shotgun approach. A secret: Research into readership indicates that readership of advertisements doesn't fall off
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Dividend increases will continue
      729 5  -  By ROBERT J. COLE NYT HUNDREDS of corporations have raised their dividends in recent weeks and a flood of new Increases is on the way, according to Wall Street experts. Dividend increases so far this year, for representative companies, have ranged from 60 per cent at
      NYT  -  729 words
    • Article
      Lock icon SEC advisory panel wants more corporate disclosures
      667 5 NYT WASHINGTON, Mon. Corporate managers should provide more subjective as well as factual information about their companies and should be given wide latitude in deciding how to do so, a blue-ribbon advisory panel told the Securities and Exchange Commission over the weekend. The
      NYT  -  667 words
    • Article
      Lock icon Firms seek changes to Morpeth system
      428 5 FT LONDON, Mon. A number of the largest accounting firms want extensive modifications to be made to the new current cost accounting (CCA) system proposed by Mr. Douglas Morpeth's Inflation Acounting Steering Group. The Government has said it supports the Morpeth approach which is
      FT  -  428 words
    • Article
      Revenue rises at Columbia Gas
      97 5 NEW YORK, Mon. Net profit at Columbia Oas System rose to U*****.9 million from $102.7 million last year, with revenue up to $1.79 billion from $1.44 billion. Earnings per share were $3.70 ($3.17). The net profit is after preferred dividend requirements of $11.1 million compared
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    • Article
      Continental Oil sees higher income
      107 5 NEW YORK, Mon. Fourth quarter net profit at Continental Oil rose by 24.2 per cent to U5596.9 million ($7B million) making a total of $460 million ($330.9 million) for the whole of 1976. The full year earnings, however. Include exchange gains of $15.3 million ($l3
      107 words
    • Article
      P Morris improves
      49 5 MELBOURNE, Mon. Net profit at Philip Morris (Australia) rose to Asl4 million from $12 million In the first six months ended Dec 31, 1976. Group sales Increased to $191.6 million from $173.4 million. Profit Includes extraordinary gain of $208,000 against a loss of $424,000 last time.
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    • Article
      Cominco suffers setback
      94 5 TORONTO. Mon. Net profit at Cominco fell 35.2 per cent C 547.7 million (173.6 million) last year. Revenue was up 2.3 per cent to $731.8 million ($715.6 million). Earnings per share fell to $2.66 from $4.34. The company said it reclassified cost of sales of European trading
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    • Article
      North American Philips buoyant
      86 5 NEW YORK. Mon. Net groflt at North American hilips Jumped 78.8 per cent to U5557.4 million ($32.13 million) last year, with 519.8 million ($14.22 million) from the fourth quarter. Earnings per share came to $4.49 ($2.76), Including a fourth quarter contribution of $1.54 ($1.13). Sales rose
      86 words
    • Article, Illustration
      Lock icon Memorex stages recovery
      1037 5  -  NEW MANAGEMENT By ART GARCIA FT AFTER a close brush with bankruptcy, Memorex Corporation now Is a company "In transition," says the man credited with rescuing It, Robert Wilson, a harddriving but soft-spoken executive who talks of a company's "attitude" and "culture" In the same breath as
      FT  -  1,037 words
    • Article
      Toyota enjoys profit jump
      248 5 TOKYO, Mon. After-tax profit at Toyota Motor rose to 51.88 billion yen from 39.57 billion yen In the first half-year ended Dec 31, 1976. The profit Jump as achieved on a sales rise to 1.08 trillion yen from 968.23 billion yen. With the buoyant results, Toyota
      248 words
    • Article
      Lock icon ITT completes Carbon merger
      161 5 Reuter NEW YORK, Mon. International Telephone and Telegraph Corp said It has completed the previouslyannounced merger of Carbon Industries Inc, Charleston, W. VA., Into a wholly-owned ITT subsidiary. As a result of the transaction, ITT said each share of Carbon common stock has been converted into
      Reuter  -  161 words
    • Article
      Lock icon Robeco's proposal
      100 5 Reuter ROTTERDAM, Mon. Robeco has proposed a final 1976 dividend of 5.20 guilders In cash (same) from the general reserve or alternatively 3 1/3 per cent (SAME) In stocks from the share premium reserve. Together with the 7.40 Billder Interim dividend the utch investment fund paid earlier, this
      Reuter  -  100 words
    • Article
      Lock icon US Steel to aid Arctic gas project
      168 5 Reuter WASHINGTON, Mon. Alaskan Arctic Gas pipeline said US Steel Corp agreed to supply steel for the proposed natural gas pipeline between Alaska, Canada and the US. The agreement calls for US Steel to supply all the 48inch diameter steel pipe needed on
      Reuter  -  168 words
    • Article
      Lock icon Boeing agrees to CFM flight test programme
      140 5 Reuter SEATTLE, Mon. Boeing said It has agreed with CFM International, a Joint venture with Snecma of France and General Electric, to undertake a development and flight test programme to eventually place a CFM-56 Jet engine in existing Boeing 707 aircraft. Boeing said
      Reuter  -  140 words
    • Article
      Lock icon Jacques Borel Int'l expects losses
      112 5 Reuter PARIS, Mon. Jacques Borel International said its 1976 net consolidated results are likely to show a loss of 38 million francs (20.1 million franc profit). The company said In a statement this is only a provisional estimate which must be approved by auditors. It
      Reuter  -  112 words
    • Article
      Lock icon Co-operative banks bond offer
      89 5 Reuter NEW YORK. Mon. The Banks for Co-operatives and Federal Intermediate Credit Banks said they will make concurrent bond offerings totalling almost US$l.7 billion on Wednesday. The co-operatives banks will offer $669.1 million of sixth-month bonds and use the proceeds to retire $532.1 million of 5.65
      Reuter  -  89 words
    • Article
      Lock icon Ollivier
      36 5 Reuter PARIS, Mon. French stockbroklng house Ollivier will merge with Its counterpart Auboyneau, Labouret Et Cie, an Auboyneau spokesman said. Bourse sources noted this is the fourth French stockbroking merger within the past month. Reuter.
      Reuter  -  36 words
    • Article
      Lock icon Objections over new mutual fund plan
      529 5 NYT WASHINGTON, Mon. Secretary of Agriculture Bob Bergland has expressed concern over a new type of mutual fund planned by a large Chicago bank to Invest In farm land and said he would "lobby" the Treasury Department to try to block a key ruling
      NYT  -  529 words
    • Briefly
      • Article
        Ford Motor
        62 5 DETROIT, Mon. Ford Motor said It Is notifying owners of 4.4 million 1973-74 cars and light trucks with V-8 engines using leaded petrol that an emission control device should be replaced In Instances In which the component has failed because of perforation. It said the owners may be
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      • Article
        New Zealand
        33 5 AMSTERDAM, Mon. —New Zealand's eight per cent sixyear private Eurogullder loan priced at 99-% percent was fully subscribed to the maximum amount of 75 million guilders, Amster-dam-Rotterdam Bank NV said. Reuter.
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      • Article
        Crocodile Garments
        59 5 HONGKONG. Mon. Crocodile Garments has declared an interim dividend of eight Hongkong cents for the year ending March 31, 1977. In the previous year, it paid an interim of 30 cents. The latest handout Is payable on the capital restructured through a one-for-four scrip Issue and a four-for-one
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      • Article
        RNH Products
        59 5 OTTAWA, Mon. The Foreign Investment Review Agency said It has rejected a bid by Fuji F Photo of Tokyo to acquire control of RNH Products of Montreal. The agency said the bid was disallowed because It did not meet the significant benefit to Canada test. RNH Products Is
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      • Article
        Island Dyeing
        57 5 HONGKONG, Mon. Unaudited net profit at Island Dyeing ana Printing came to HK53.54 million In the first half-year ended Sept 30, 1976, compared with a loss of $420,000 last time. As in the previous year, the company Is not paying an interim dividend. Island Dyeing is 40 per
        57 words
      • Article
        Statsforetag
        59 5 FRANKFURT, Mon. The Statsforetag AB of Sweden 100 million mark eight-year seven per cent Eurobond was priced at 99-Vk per cent, a spokesman for Dresdner Bank AO said. Redemption is in lour equal annual Instalments by series drawing after four years of grace. The yield on the average life
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      • Article
        Saab-Scania Eurobond
        83 5 LONDON, Mon. SaabScania of Sweden Is plannr ing to raise US$5O million through a Eurobond Issue, Joint lead manager Union Bank of Switzerland (Securities) said. The issue is expected to carry a coupon of 8% per cent with a 12 year maturity. Average life of the issue is
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    • Article
      Lock icon Carter Hawley aims to double sales
      467 5 NYT NEW YORK. Mon. Carter Hawley Hale Stores Inc., Is planning a rapid expansion in the luxury specialty-store field, aimed at doubling those sales in the next five years by sighting In on affluent pockets In new or existing metropolitan areas. Carter Hawley. based
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    • Article
      Lock icon Stock market decline baffles Wall Street
      807 5  -  By VARTANIG G. VARTAN NYT AT THE start of 1977 Wall Street was awash with optimism over prospects for the stock market. Interest rates held to their lowest levels In several years, the lagging economy showed signs of revival and President-elect Carter was already
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  • Page 5 Advertisements
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  • Article
    Share Information Service
    2046 6 \n%m Hifh Low Compujr Last Sale •ferGk'a Dhr Dhr Cw YTd Net T/K Vel High Low SECTION ONE INDUSTRIALS 175* 131 206 100 237 186 201* 204 248 460 133 130 172 60 185 66 127* 149 172 386 Aetna Ac ma A Akom Allied Choc Bata
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  • Article
    Transactions in Singapore
    1180 6 BID and offer price* officially Hated and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett." Big Board
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  • Article
    In Kuala Lumpur
    1151 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with number of shares traded shown In brackets In lota of 1,000 units unless otherwise specified. INDUSTRIALS Acma (1.41B). A. Tip* (0 438 0 438) (1) 0.43 AJinamata (1.928
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  • Article
    Stock options
    161 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer orices and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June $3.90) (0.318 .0.325) (2) 0.30, (I), (I) 0.30'*, (II) 0.31'». (1) 0.32, (5)
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  • Article
    Unit trusts
    138 6 SINGAPORE UNIT TRUST (Managers' price* for Feb 15) INCOME BOND UNIT (Current prices) INCOME BOND 1 10 1 16 The Saving Fund 0.95 100 S'pore Prog Fund 0 80 0.85 S'pore Security Fund .1.35 143 S'pore Invest Fund ...1.06 1.12 ASIAN UNIT TRUST (Managers' prices for Feb 15)
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  • Article
    Corporate bonds
    66 6 Keppel 9 1/2% 1982 (100,000) (101HB 102VfcS) Orient Leasing 8 1/4% 1982 (100,000) (99%8 U O B Floating 1981 (100,000) (96%8 97HS) 5 1/2% 1/12/77 (1,000,000) (101.508 101.60S) 5 1/2% 15/4/78 (1,000,000) (101.608 101.788) 5 1/4% 15/7/78 (1,000,000) (101.488 101.595) 6 1/2% 15/8/78 (1,000,000) (103.358 103 50S) 7%
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  • Article
    Domestic govt bonds
    68 6 6 3/4% 15/6/80 (1,000,000) (103.00B) 6 3/4% 1/12/80 (1,000,000) (102.958) 5% T F 15/4/81 (1,000,000) (101.458 101.555) 5% T F 15/10/81 (1,000,000) (101 40B) 5 3/4% T F 15/6/81-84 (1,000.000) (102.655) 7 1/4% 15/4/86 (1,000,000) (100 458) 7 1/4% 15/10/H6 (1,000,000) (100.408 100.50S) 6 1/4% T F
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  • Article
    Buyers still withdrawn
    539 7 A WAIT-and-see attitude prevailed at the Stock Exchange of Singapore yesterday. The general trend was still hesitant. During the opening market, trading conditions were particularly quiet as the speculators attempted to reappraise the situation following last Friday's mild rally. It would appear that most buyers were withdrawn
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  • Article
    Shares in KL end mixed
    488 7 INTEREST remained generally lacking on the Kuala Lumpur Stock Exchange yesterday as prices continued to move on an erratic bias. The absence of any sustained support saw the market drifting into minus territory by the noon break. Some attempts were made In the afternoon to
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  • Article
    Bank of E.A.
    44 7 HONGKONG, Mon. Consolidated net profit at Bank of East Asia rose t.n HK524.94 million from $21.68 In the year ended Dec 31. 1976. It has proposed ,a final dividend of $3 ($2.50), making a total of $4.50 ($4) for the year.
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  • COMPANY NEWS
    • Article
      Upturn in earnings at United Asbestos
      641 7 AS it anticipated, United Asbestos Cement has made some headway in the current year ending June 30, 1977. The company reported an increase of 39.1 per cent in unaudited pre-tax profit to M 55.03 million for the first six months ended Dec 31, 1976.
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    • COMPANY MEETINGS
    • OVERSEAS MARKETS
      • Article
        Tokyo
        474 7 TOKYO: Share prices fell sharply, with the market average dipping below the 5.000 mark for the first time In two weeks, as selling increased on the- yin's further rise, dealers said on Monday. The Dow Jones average lost 34.38 to close at 4,979.03 with volume 150 million shares. The
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      • Article
        Sydney
        443 7 SYDNEY: The market was mixed on Monday, although some Issues recovered on cheap buying. dealers said. The Sydney All-Ordinaries Index fell 0.79 points to 422.20. BHP rose six cents to 56.86, while the Wales, Tooth and ICI edged up slightly, but CSR lost six cents to $3.31 and the
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      • Article
        Manila
        178 7 MANILA: The market was dull, with turnover falling to only 1.47 million pesos from last Friday's 2 92 million, dealers said on Monday. Mining Issues were slightly higher while commercials and oils eased, with weak metal prices depressing sentiment Gainers Included Lepanto B and Philex A but Baguio Gold,
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      • Article
        Hongkong
        433 7 HONOKONO: The market closed weak In active trading on Monday with little buying support for blue chips on lack of Incentive and some profit taking among second liners, dealers said. The Hang Seng Index was down 4.66 points to 436.16. Jardine Matheson fell 30 HK cents to $17.00 and
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      • Article
        Bangkok
        84 7 FEB 14 Bat.U Asia Fibre 119 unch Bangkok Bank 249 unch Bangkok Invest 147 3 Bangkok-Metro-politan Bank Bata 373 ♦4 BerllJucker 165 unch Charoong Thai Wire 162 unch Dumex Duslt Thanl Faber Merlin First Trust Indo-Thal J And J Ho Jalaprathan unch Cement 83S Karnasuta Lee Kwang Mln Metal
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    • Article
      A flat buy for Metro
      141 7 METRO Holdings Is to purchase an apartment at Leonle Towers presently occupied by its managing director, Mr. Jople Ong Hie Koan, for $415,000. The company says In a circular letter to Its shareholders that the apartment belongs to Dynamic Holdings of which Mr. Ong Is
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    • Article
      UCP paid cash says parent firm
      141 7 UNITED Continental Properties paid cash for a six-storey building It acquired for M 51.25 million, according to the parent, Malayan United Industries, in reply to queries by the Kuala Lumpur Stock Exchange. The consideration for the acquisition of the building In Kuala Lumpur from
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    • Article
      PEOPLE IN BUSINESS
      240 7 Mr. William S. Durbln, chairman of Hill and Knowlton arrived In Singapore yesterday for a four-day visit. He is accompanied by Mr. Eric White, a director of the company. While here Mr. Durbin and Mr. White will meet business executives and review operations of the Hill and
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    • Article
      DIVIDENDS ANNOUNCED
      170 7 Current Ex Date Total for Total for payment Date payable the year previous year D. Keramat 66.67%+ Jan 26 Feb 17 66 67%+ 65% Ulu Beaut 5%TE Feb 2 Feb 17 5%TE 5% N.B. Timber* 3%+ Jan 26 Feb 21 3%+ 15.4%a Straits Time* 27.5% Feb 11 Mar
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    • Article
      Lock icon Tight security umbrella over Random House talks
      674 7 NYT NEW YORK. Mon. Negotiations for the purchase of Random House from RCA by Times Mirror are progressing under tight security, according to Industry sources Both companies declined to say more than the original announcement last Wednesday. which stated simply that negotiations were
      NYT  -  674 words
    • Article
      Kerr McGhee
      65 7 NEW YORK. Mon. Net profit at Kei r-McGee rose to US$35 .8 million from $31.97 million on sales of $514 million ($4Bl million) in the fourth quarter of last year. This brought the full year profit to $134.13 million ($l3l million) on sales of $1.95 billion ($l.B billion).
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    • Article
      Idris Hydraulic
      166 7 IDRIS Hydraulic Tin has reported an estimated profit of £339,000 for the year ended Dec. 31, 1976, compared with £364.293 for 1975. Mine profits, however, were more heavily down at £264,500 compared with £315,263. Interest and dividends received during the vear remained steady at £49,000 while the repayment
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    • Article
      Sentosa Plywood
      165 7 TRADING in the shares of Sentosa Plywood will resume on the Stock Exchange of Singapore and the Kuala Lumpure Stock Exchange this morning. The SES suspended trading in the company's shares on Sept 21, 1976 a day after the KLSE imposed the suspension following news of Its controversial
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    • Article
      Lien Hoe Industries
      99 7 LIEN HOE Industries has proposed a scrip Issue of one-for-two, raising paidup capital by 2.75 million Msl shares to 8.26 million shares. Announcing the issue yesterday, the company says the Malaysian Capital Issues Committee has approved the Issue. Lien Hoe says the Issue will be made by
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  • COMMODITY REPORTS AND PRICES
    • Article
      Rubber markets in S'pore and KL
      329 8 OPENING quotations in the Singapore rubber market yesterday were unchanged despite higher London advices. The market ruled very quiet, with only scattered business, dealers said. Prices fell slightly towards the morning close on lack of buying support and some offerings of March. The approaching
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    • Article
      Closing prices
      30 8 Rubber: Feb 14 Singapore: Mar. 204.00 cis (down 1.25 eta.) Malaysia: Mar. 207.75 cU (down 1.25 eta) Tin: 5i.515.00 (down 18.00) Official offering: 398 tonnea (down 173 tonnea)
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    • Article
      Straits tin
      148 8 THE Straits tin price in Penang yesterday was down $8.00 to $1,515.00 on an official offering up 173 tonnes to 398 tonnes. In LONDON yesterday, tin firmad by around £72 per tonne for Cash and £60 for Three Months in both contracts. Despite the declining trend at Penang,
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    • Article
      Sugar
      637 8 LONDON, Mon. Terminal sugar finished the first call-up £1.40 from Friday with near Mch at £129 bid to £1.80 per tonne and later held relatively steady in quiet and featureless open trading in the mornihg. Dealers attributed some of the support to currency factors. They said the Peru selling
      637 words
    • Article
      Gold
      189 8 IN the Singapore gold market yesterday, the kilobar was thinly traded in the range of 5510.850 to 5510,900. The loco London gold opened at U*****.10/136.50 and was strongly bldded up on short-covering ahead of the Chinese New Year to close at U*****.30/136.80. The London morning fix was U*****.30 up
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    • Article
      Copper
      145 8 LONDON, Mon. Copper wlrebars gained fully £2 per tonne for Cash and £4 for Three Months In the morning. Cathodes rose by mostly £4.50. Values hardened in early dealings under the influence of weaker sterling, and the smaller than expected increase of 700 tonnes in LME stocks last week
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    • Article
      Silver
      78 8 LONDON. Mon. Sliver recorded gains of 1.7 to 3.0 pence per troy ounce In the morning. Currency factors, higher gold and the upward trend In most base metals were the main influences, dealers said. Small-scale fresh buying was reported but values receded partially under profit-taking with a relatively low
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    • Article
      Lead
      123 8 LONDON, Mon. Lead advanced by £4.25 per tonne for Cash and £5.25 for Three Months in the morning. Prices moved smartly ahead In the pre-market where Three Months reached a new traded peak of £392. News that Amax in the US had declared force majeur on lead shipments due
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    • Article
      Zinc
      52 8 LONDON, Mon. Zinc declined by £4.00 per tonne for Cash and £3.50 for Three Months In the morning'. In constrast to the other metals, this market was relatively neglected with only 625 tonnes changing lands. Three Months was finally trading at £419.00. The market continues to lack interest, trade
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    • Article
      Rice
      103 8 BANGKOK, Mon. Indicative prices for rice quoted in Bangkok yesterday, were: US dollars per tonne fob basis Bangkok. White Rice: 100 per cent Ist class 282 100 per cent 2nd 287 100 per cent 3rd 282 5 per cent 254 10 per cent 233 IS per cent 230 20
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    • Article
      Produce prices
      121 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk *85 tellers, old drum 190 sellers, new drum *95 sellers. Copra Mixed (loose) UK/Cont. 855 buyers Pepper Muntok ASTA white f.o.b 100% NLW 8350 sellers. Sarawak white fob 90H NLW 8330 sellers. Sarawak special black
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    • Article, Illustration
      Tungsten ore shines in metal markets
      810 8 A BRIGHTLY shining though little noticed star In last year's generally clouded metals markets was tungsten ore (wolfram). Despite recession in the steel industry worldwide prices have forged ahead in the past year, with UK c.l.f. prices for wolfram climbing steadily from just over
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    • Article
      Coffee
      164 8 LONDON, Mon. Robusta futures opened £15 higher in the morning with Mch traded at £3.080. But local dealers and trade selling developed In quiet trading and at end-call, values were 23 to £5 down from Friday's close. Volume was 179 lots. Mch closed at a low of £3,053 while
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    • Article
      Lock icon Java Floods
      30 8 Reuter JAKARTA, Mon. Floods last week Inundated more than 4,000 hectares of rice paddy in the Indramayu area of West Java, the dally newspaper Pikiran Rakyat said. Reuter.
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      590 8 SINGAPORE'S inter-bank market yesterday was quiet, dull, and thin, dealers reported. Activity in the domestic money market was confined almost exclusively to overnight funds. Overnight rates opened at the per cent level in the morning but was gradually worked down to 3 Mi per cent Just before closing. There
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    • Article
      Asian $ rates
      168 8 Asian rates ASIAN currency deposit interbank rates as at close on Feb 14. US Dollar* (Spot) Offer Bid 7 days 4 9/16 1 mth 4 3/4 2 mths 5 4 7/8 3 mths 5 1/8 5 6 mths 5 5/8 51/2 8 mths 5 7/8 5 3/4 12 mths 6
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    • Article
      Discount
      47 8 RANOE of price* offered by dti count houaet on Feb 14 Overnight 2 to 3* Call depotit 3% Cl—imt Buy Selliai 3-Month Treasury bills J 17/ 3-Month Banks bills 41/1* 315/1 3-Months CD 4 7/U 41/ 8-Month CD 4 9/18 4 7/H Source: National Discount Co.
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    • Article
      Minimum lending rates (in %)
      58 8 Minimum lending rates (in ACBC flV, Algemene Bank 6% Bangkok Bank ..7* Bank of America 6* Bank of China ..7 Bank of Tokyo fl* Bank Necara Indonesia 7 First Chicago Citibank 6* HSBC 7 Indosuez 6% Malayan Banking 6% Mitsui Bank 6* ocbc e* OUB 6* Chartered Bank Chase Manhattan
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    • Article
      London
      293 8 LONDON, Mon. Sterling and the dollar opened easier in European currency trading. extending their downward trend which started late last week. Sterling fell to $1.7100/05 from $1.7123/27 on Friday, and lost ground In forward markets, amid further selling reflecting some British trades union opposition to a phase three anti-lnflatlon
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    • Article
      Tokyo
      126 8 TOKYO, Mon. The yen rose sharply, reflecting Its strength In overseas centres and expectations of further appreciation, dealers said. The Bank of Japan Is believed to have bought some dollars to stem the yen's rise, they said. The dollar for overnight delivery fell to 283.70 yen, after opening at
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    • Article
      Hongkong
      237 8 HONO KONO, Mon. The mark rose steadily here throughout the day on selling of sterling and US dollars to close at 2.3976/84 against the US dollar from 2.4021 mld-polnt equivalent at Friday's New York close, dealers said. They said the yen also rose with more business than usual being
      237 words
    • Article
      Euro $ rates
      144 8 Euro rates LONDON, Mon. Eurodollar deposits opened basically steady and showed little movement In early trading. Early Interest was noted in shorts stemming from Singapore taking interest, but time deposits made a slow start. A continuation of recent very quiet conditions was reported with main attention this morning centred on
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    • Article
      Australia/NZ
      44 8 AUSTRALIA/ NZ exchanges quoted on Feb 14 AUSTRALIA: Sterling 0.6406/ 0.6336 US dollar 1.0928/ 1.0880 Ninety-day air mall buying rates: Sterling 0.6667 US dollars 1.1180 Ninety-day forward buying rates: Sterling 0.6548 US dollars 1.0925 New Zealand: Sterling 0.5572/ 0.5541 US dollar 0.9589/ 0.9489
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    • Article
      Frankfurt
      30 8 FRANKFURT exchanges opening quotes on Feb 14:Can 2.3400/20 UK 4.090/105 Neth 95.47/62 Swltz 95.45/60 France 48.20/35 Norw 45.42/48 Belg com 6.502/517 Belg fin 6.497/507 Japan 0.8465/80 US 2.3965/80 2.4060/68)
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    • Article
      Eurobond prices
      333 8 LONDON. Mon. Straight Eurobonds traded mostly steady In low turnover, dealers said. US dollar issues were little changed on Friday's levels In quiet trading and guilder Issues were also quietly steady. Mark bonds tended slightly firmer following the strength of the Deutschmark against sterling, dealers added. In first
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      Page 8 Advertisements Column 1
      162 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times w, BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) a Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei. Sarawak. Sabah Australasia/Pacific
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Americans to flood Europe by cheap charter flights
      845 9 NEW YORK, Monday Reuter ONE morning later this month, a group of strangers will gather at an airline terminal here for a flight to London. Nothing unusual about that except that they will each be paying US$229 (*****) for the round-trip charter
      Reuter  -  845 words
    • Article, Illustration
      Lock icon Capitalistic system on trial in US – Henry Ford
      1140 9 Capitalistic system on trial in US Henry Ford DETROIT, Mon NYT LOTS of Detrolters, including Mayor Coleman Young, call hint "Hank, the Deuce." His subordinates call him "The Chairman." He himself Is thinking of using the handle "Beer Belly" on the new Citizen's Band radio In his car. But on
      NYT  -  1,140 words
    • Article, Illustration
      IN PORT
      457 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Auby (1300 after Kunak) 21 West Cinchona (after Makeverett Cunard Carronade) (draft 9.5 m) (Bulk Maize/Wheat) 6/7 Glso Maru No 19 (JLKB) (after Palm Sea Horse sails) 13/14 Island Ace (after Ramoneverett) 40/41 Iwate Maru (JFXH) (1700 after Bunga Melatl) 33/34 Kwong Ta
      457 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      575 9 ARRIVALS Service Local Operator Number Time From CAL CI331 0040 TPE/HKG/KUL TMA TL303B 0215 BEY/DXB/ BOM/KUL MAS MH682 0810 KCH JAL JL712 1000 HLP SIA SQ211 1010 HLP GIA OA980 1030 HLP OIA GA908 1100 MES SAS SK971 1130 CPH/BKK RBA BI325 1155 BWN SIA SQ201 1200
      575 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      370 9 The first new idea in encyclopaedias in over 200years-Britannica 3, Britannica 3 does what no other encyclopaedia has ever done before: It serves the three basic needs of users in three distinct ways. (see below) That's what makes it the most useable reference work ever developed. That's why Britannica 3
      370 words
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  • Article
    S'pore to adopt 'bullish' money policy
    625 10  -  By SOH TIANG KENG FOR the next six months, 1 the Government is expected to adopt a "bullish" monetary policy to accelerate Singapore's recovery from world recession. This means easy credit conditions, low interest rates and a moderate growth of money supply, according to
    625 words
  • Article, Illustration
    Lock icon ISRAEL'S BILLION DOLLAR WEAPONS INDUSTRY
    1019 10  -  By JOEL EPSTEIN AP ISRAEL'S arm* industry < has grown from a < clandestine bullet factory under a farm laundry 30 1 years algo Into a billiondollar venture producing everything from combat boots to Jet fighters. While most of Israel's production goes for its own
    AP  -  1,019 words
  • Article, Illustration
    Lock icon Polls campaign which owes more to tradition than politics
    872 10  -  By KENNETH WHITING AP THE official campaign starts on Feb. 24 for a general election which owes 'more to Javanese tradition jthan Western style party 'politics. No overt criticism of personalities or policies Is permitted under the rules. Opposition to authority
    AP  -  872 words
  • Article
    Lock icon MORPETH CRITICS WANT SIMPLICITY
    1023 10  -  SPs© Plfl "sj fICCOiIWTANCY By MICHAEL LAFFERTY Financial Times NEARLY THREE of the six months allowed for discussion of the proposed new Inflation accounting system have passed and there are already strong indications that opinion Is hardening within the accountancy profession against the sheer complexity of
    Financial Times  -  1,023 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      48 10 t T %Tk THE DEBT TRAP #*J SL H.I tr Sir >s s I .s s HOW TO SURVIVE I THE SLUMP A G»a*f k< Crmm G* flamHx> CONSUMES PRODUCT ft DEVELOPMENT RODE'RICK WHITE o 5 i X \\w+\ :h i Ki THE PROPERTY MACHINE r w I
      48 words
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  • Article
    Lock icon Oil: China seeks long term deal
    632 11 NYT NEW YORK, Mon. China is expected to open discussions soon for a long term agreement on oil exports to Japan, United States government sources reported. Japan is already the principal buyer of Chinese oil. According to American experts, a long term oil pact
    NYT  -  632 words
  • Article
    Lock icon Jakarta to explain seas claim to Moscow
    178 11 Reuter JAKARTA, Mon. Justice Minister Mr. Mochtar Kusumaatmadja will visit the Soviet Union to further explain Indonesia's claim of sovereignty over all the seas linking its thousands of islands which he said Moscow had conditionally approved. At a weekend lecture here on the
    Reuter  -  178 words
  • Article
    3M prizes for dealers' salesmen
    111 11 A DEALERS' salesmen lunch was hosted by 3M Singapore last week, with a prize presentation to winners of Its bi annual competlton for salesmen as the highlight. The competition requires the salesmen to sell a minimum of 20 3M copiers each valued at 5380 over
    111 words
  • Article
    Suits
    53 11 IN A suit filed with the High Court yesterday, Mech Mar Ltd sued Dragon Polyfoam Industry for $34,355, alleging services rendered and materials supplied to the defendant. Jurong Brick Works, in another suit filed with the High Court, sued Chang Young John, alias John Chang, trading as John Chang
    53 words
  • Article
    Strong growth likely for SIMBL in 1977
    532 11 SINGAPORE International Merchant Bankers looks poised to grow strongly in 1977, and with new vigour. The merchant bank Is snugly located on the expansive 47th floor of the mammoth OCBC building; it has a new managing director who Is no stranger to the
    532 words
  • Article
    Lock icon Saudis blacklist foreign firms for submitting inflated bids
    299 11 AP JEDDAH, Mon. A number of foreign companies have been placed on a Saudi blacklist for submitting Inflated bids on government tenders, the English-language daily Arab News said today. The Ministry of Municipal and Rural Affairs has cancelled all bids submitted for
    AP  -  299 words
  • Article
    'Honorary whites' title is insulting
    110 11 TOKYO, Mon. Japanese should be ashamed for permitting themselves to be called "honorary whites" In South Africa, an official of the African National Congress (ANC) in South Africa said today. "The term, honorary whites," said the ANC's chief representative Mr. Anthony Mongalo, "Is an insult
    110 words
  • Article
    Lock icon HK policemen really do mean business
    693 11 UPI HONGKONG, Mon. Veteran police officers are back in the classroom studying business in an experimental programme aimed at protecting the investor and fighting large scale fraud accompanying the growth of Hongkong into a major financial centre. The first group from the Commercial Crimes
    UPI  -  693 words
  • Article
    Lock icon Thai, KL Reds working hand in glove
    194 11 AP KUALA LUMPUR, Mon There u definite evidence of collusion between the Communist Parties of Malaya (CPM) and Thailand (CPT), the military Commander of Peninsular Malaysia, Maj. Gen. Mahmood Sulaiman said today. He said this was discovered during the joint Thai-Malaysia military operations
    AP  -  194 words
  • Article
    Lock icon Loan talks
    38 11 Reuter ROME, Mon. The Italian Treasury said negotiations aimed at securing a $530 million (551.299 million) loan for Italy from the International Monetary Fund (IMF) will resume in Rome at the end of the month. Reuter
    Reuter  -  38 words
  • Article
    Lock icon Muslim plebiscite will decide Tripoli success
    454 11 Reuter MANILA, Mon. The success of current peace negotiations between the Government and the Muslim rebel movement of the Moro National Liberation Front (MNLF) could depend on the forthcoming autonomy plebiscite In the southern Philippines, President Marcos said today. Addressing his 132member appointed Legislative
    Reuter  -  454 words
  • Article
    Lock icon TOKYO- SEOUL TALKS ON U.S. PULLOUT
    286 11 Reuter TOKYO, Mon. Part of a 40-member delegation of South Korean legislators arrived here today to discuss with their Japanese counterparts the proposed withdrawal of US ground forces from South Korea. Former South Korean Prime Minister Kim Chongpll, the chief South Korean delegate to
    Reuter  -  286 words
  • Article
    Lock icon Wage and price freeze in Israel
    161 11 UPI TEL AVIV, Mon. Government and labour leaders today reached a wage and price freeze agreement aimed at slowing down Israel's spiralling Inflation rate until after its mid-May elections. But political and economic observers said the package deal has little chance of succeeding without
    UPI  -  161 words
  • Article
    SIM to hold three courses this month
    188 11 A NUMBER of courses on export and import financing, approaches to Integrated personnel strategies and how to be an effective secretary, will be conducted by the Singapore Institute of Management at the Sim Conference Room this month. The first will be aimed at
    188 words
  • Article
    Lock icon Keep Vietnam out of UN: Westmoreland
    133 11 AP HONOLULU, Mon. Retired General William Westmoreland, who commanded the US troops In Vietnam for four years, says the United States should oppose that country's entry into the United Nations. Oen Westmoreland said that North Vietnam had signed an agreement that was supposed to
    AP  -  133 words
  • Article
    Lock icon Continental shelf Bill before Lower House
    137 11 UPI TOKYO, Mon. The Government today submitted to the Lower House of Parliament a Bill to ratify a Japan-South Korea agreement for Joint development of natural resources on the continental shelf of the East China Sea, parliamentary sources said. Ratification of the agreement, signed
    UPI  -  137 words
  • Article
    Lock icon PERIL OF OPPOSITION IN POWER: BHUTTO
    151 11 Reuter HYDERABAD, Mon. Prime Minister Mr. Zuiflkar All Bhutto said yesterday that chaos would follow if the nine-party opposition Pakistan National Alliance gained power In the general elections on March 7. He told an election meeting that the Alliance manifesto, which Includes a pledge
    Reuter  -  151 words
  • Article
    SGH now an open book
    65 11 THE Singapore General Hospital's 50th anniversary will be commemorated with a book on its history and plans for its future. The book, now on sale at $10 a copy in most major book stores in town, Is a comprehensive reference work compiled by medical experts
    65 words
  • Article
    Lock icon Seoul to offer aid to poor countries
    255 11 UPI SEOUL. Mon. South Korea has worked out plans to offer grant aid to some developing countries and diversify Its Import sources of major raw materials to Include Communist countries, government officials said. The plans were worked out by the Foreign Ministry In
    UPI  -  255 words
  • Article
    Lock icon S. Korea tightens up screening of foreign loans
    221 11 UPI SEOUL. Mon. The South Korean Government has revised the implementation decree of the Foreign Capital Inducement Law to tighten up screening of foreign loans, a spokesman for the Economic Planning Board said today. The revisions, adopted by Cabinet Ministers in charge
    UPI  -  221 words
  • Article
    Lock icon New strain of sheep
    129 11 Reuter HONGKONG, Mon. North-east China's Chinghai province, one of China's leading animal husbandry areas, has bred a new strain of sheep with fine wool and tender meat, the new China News Agency reported today. A cross between the local sheep and the Sinklang fine wool sheep,
    Reuter  -  129 words
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      Page 11 Advertisements Column 1
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      294 11 SEE HA(;E 2 McALISTER COMPANY LIMITED invite applications for the post of MARKETING EXECUTIVE in their Engineering Division Scope of Work: The Marketing of a wide range of Engineering products in Singapore including project work. Qualifications Experience: The successful candidate will be a holder of either a Degree or Diploma
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  • Article
    Cargo checking protest gets wide backing
    309 12 A LITTLE storm Is brewing among Singapore traders over the Far Eastern Freight Conference's proposal to Impose a physical check on measurements and commodity descriptions of cargoes on out-turn In Europe from March 1. Last week, the Singapore National Shippers' Council lodged Its protest
    309 words
  • Article
    LONDON STOCKS
    769 12 LONDON. Mon. The stock market closed lower In moderate trading and at 3 p.m., the Financial Times Index was off 10.5 at 371.0. The continued threat to pay restraint, a fall in sterling and apprehension about the January trade figures caused a broad decline and the fall was
    769 words
  • Article
    Lock icon Hua facing problem of flagging support
    539 12 CAMPAIGN AGAINST THE GANG' UPI HONGKONG, Mon. Chinese Communist Party Chairman Hua Kuo-feng is having a problem sustaining enthusiasm for the criticism campaign against China's "Gang of Four." The Party's theoretical journal and Its regular daily newspaper both have complained about flagging support among
    UPI  -  539 words
  • Article
    Musa off to Bolivia on a twoprong mission
    245 12 KUALA LUMPUR. Mon. Primary Industries Minister, Datuk Musa Hitam. left here today for Bolivia on a dual mission to discuss developments in the international tin market and Establish direct political contact between the two countries. He will talk to the Bolivians on
    245 words
  • Article
    Inland Revenue Union rejects report
    206 12 KUALA LUMPUR, Mon. The 1,000 strong Inland Revenue Officers' Union has rejected the Cabinet committe report. "The decision was taken at a meeting of our working committee today," its president, Mr. Narendran, said. He added that It was unable to accept the report as there
    206 words
  • Article
    Gold mine to close
    68 12 SUVA, Mon. Emperor Gold Mining said it will close its Vatukoula gold mine in Fiji following the failure of talks to end a strike which started at midnight last night by the Fiji Mlneworkers' Union. The company and the union remained deadlocked in their dispute over
    68 words
  • Article
    Hopes rise for tin project talks again
    530 12 KUALA LUMPUR, Mon. Hopes are increasing that the Selangor Government and Charter Consolidated may soon resume negotiations over the controversial project to mine tin from the Kuala Langat area of the State. Letters have been exchanged between Da to Hormat Rafel, the Selangor
    530 words
  • Article
    MNCs here urged to join in lobby
    330 12 AMERICAN multinational companies will be urged by their Singapore employees to Join the lobby against the US 1976 Tax Reforms Act, which sharply hikes the personal tax payable by Americans abroad. In a personal letter to members of the Singaporebased American Business Council,
    330 words
  • Article
    Lock icon Upadit for Japan
    82 12 UPI BANGKOK. Mon. Thai Foreign Minister Upadit Pachariyangkun will make an official visit to Japan next month, a government spokesman announced. The spokesman said Mr Upadit's undersecretary may travel to Laos this week for talks with Lao officials on Thai flying rights over Laotian territory. Mr Upadit
    UPI  -  82 words
  • Article
    CI's fixed assets up for sale
    169 12 PRICE Waterhouse, the receivers and managers of Copper Industries, Is selling the fixed assets of the now defunct copper mill. The first public notice of the sale, which appeared In the Straits Times last week, offered Items such as milling machines, boilers, grinders and
    169 words
  • Article
    New $10m 'house' for ACBC by 1979
    262 12 ASIA Commercial Banking Corp. (ACBC) has joined the queue of banks putting up •panking new head office buildings to house and centralise their administrative processes in Singapore. Piling work is in progress on a plot of land fronted by Parsi Road and Mistri
    262 words
  • Article
    BEN LINE INSTALS COMPUTER AT NEW OFFICE
    191 12 BEN Line Steamers has Installed an ICL (International Computers Ltd) computer at its new Clifford Centre office so that data between Singapore and Europe may be transferred more rapidly. The computer, a 2903/30 model, is linked to Ben Line's computer in Southampton via
    191 words
  • Article
    Lock icon HK birth rate low
    95 12 Reuter HONGKONG. Mon. The birth rate here last year fell to a record low of 17.7 per thousand population, according to official statistics just published. The figures released by the Census and Statistics and Department show that during the year, 78,486 babies were born 1,304 less
    Reuter  -  95 words
  • Article
    Lock icon Japan: After the smog
    712 12 THE ECONOMIST TOKYO: After each visit to superefflcient Japan, one can feel that one has seen the future. Bui this time the future does not work. Japan Inc Is likely to limp through the rest of this world recession In a stagflation where big business will
    THE ECONOMIST  -  712 words
  • IN PARLIAMENT YESTERDAY
    • Article
      'Tax-men are obstacles to growth'
      414 12 MR. S. Dhanabalan, MP for Kallang. yesterday told Parliament that tax-men were hindrances towards economic growth and should therefore be excluded from the Fiscal Implementation Policy Committee which he welcomed. In his view, tax incentives in Singapore have helped promote Industries, the finance sector and
      414 words
    • Article
      A misbegotten subject: Chiang
      297 12 DR. Chiang Hai Ding yesterday criticised the proposal made by the Minister for Education to have a subject called "Education for Living" in schools. At the first debate of the Fourth Parliament, Dr. Chiang, who is MP for Ulu Pandan, said that the Government must engender
      297 words
    • Article
      Accusing finger at bosses
      108 12 MR. Chin Harn Tong, MP for Aljunled. yesterday pointed an accusing finger at employers for not contributing sincerely to rlpartlte co-operation. Speaking at the fl'st debate of the fourth Parliament, Mr. Chin noted that he was convinped that the government and workers were doing their parts
      108 words
    • Article
      Why the PUB 'extras' ?
      73 12 Why the PUB 'extras' THE MP for Leng Kee. Mr. Ow Chin Hock, expressed reservations about the continued imposition of utilities surcharges by the Public Utilities Board. The public, he felt, were willing to pay for the costs of utilities they used but were unwilling to pay for what they
      73 words
    • Article
      LABOUR WILL MOURN HIM
      134 12 MR. N. Govindasamy who died suddenly yesterday was described by Mr. C.V. Devan Nalr. Secretary General of the NTUC. as "the most thoroughly decent person in the labour movement." and the main inspiration behind the NTUC's education programme. Mr. Nair called Mr. Govindasamy a tried and
      134 words
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