The Business Times, 18 February 1977
1977-02-18
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The Business Times
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Title Section10 1977-02-18 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, FEBRUARY 18, 1977 50 CENTS10 words
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NEWS IN BRIEF
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Article24 1977-02-18 1 THERE will be no publication of Business Times on Saturday. The paper wishes its readers a happy Chinese New Year.24 words
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Article76 1977-02-18 1 AP SEOUL, Thurs. Korea Electric (Keco) will send representatives to Australia next month to negotiate a long-term soft coal supply contract to secure fuel for two projected 500,000-kilowatt power plants, Keco said today. The state-run firm plans to begin construction work on the thermal power plantsAP - 76 words
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Article80 1977-02-18 1 UPI WASHINGTON, Thurs. The Administration said yesterday that the United States still Intends to withdraw from the International Labour Organisation (ILO) unless complaints against the United Nations agency have been resolved by November this year. The United States gave notice of its Intention to withdraw afterUPI - 80 words
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Article68 1977-02-18 1 AP UNITED NATIONS, Thurs. The Soviet Union announced here yesterday that it was working to set up a permanent system for surveying the earth's resources from space, and was willing to sell the services of the system to other countries. Academician Evgeny Fedorov made the announcement todayAP - 68 words
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Article58 1977-02-18 1 AP LONDON, Thurs. Foreign Secretary Anthony Crosland was still in critical condition in an Oxford Hospital intensive care unit today, four days after he suffered a stroke at his home, a hospital spokesman said. Mr. Michael Wyatt, house governor at Radcliffe Infirmary, said: "His condition is stillAP - 58 words
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Article51 1977-02-18 1 KUALA LUMPUR, Thurs. Sarawak Shell and Sabah Shell spent a total of nearly $330 million last year for their activities and investments, despite the uncertainties over the protracted negotiations for production sharing agreements with Petronas, according to the managing director of the two companies, Mr. Dick51 words
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Article48 1977-02-18 1 UPI NAIROBI, Thurs. The Anglican Archbishop of Uganda, the Reverend Jananl Luwum, and two Ugandan Cabinet Ministers who were arrested last night for complicity in a plot to overthrow President Idl Amln have been killed in a motor accident, according to a Ugandan military spokesman. UPI.UPI - 48 words
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Article51 1977-02-18 1 AUSTRALIA has appointed Mr. Laurence Corkery to succeed Mr. Robert Nivison Birch as the Australian High Commissioner in Singapore. Mr. Corkery is a career officer of the Australian Department of Foreign Affairs who spent two years as counseller (aid) in Ho Chi Minh City, then known as51 words
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Chief Price Changes
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Article117 1977-02-18 1 Rises Most active Genting S3 36 .10 Genting 257,000 S. Trading S5 65 .10 Inchcape... 74.000 Wearmes $2 89 .06 Haw Par 67,000 A Tape SO.47 .04 Pan Electric 50,000 Hume(M) SI.74 .04 Ibtal Turnover: 0.80 M Pan Elect $2.21 .04 Total Value: S2 11 M Slme117 words
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Article, Illustration173 1977-02-18 1 TRADING was steadier at the Stock Exchange of Singapore yesterday ahead of the Chinese New Year holidays. The options board also saw a firmer trend, with premiums marked higher. The Business Times index rose 3.34 points to 267.41 while the Straits Times Industrial average was up 0.52173 words
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1206 1977-02-18 1 LESS THAN 0.1 PER CENT OF GNP SINGAPOREANS are a tight-fisted lot when It oomes to giving money for charitable causes. Last year, the public and private sectors together spent less than 0.1 per cent of Gross National Product, or Just under $20 million on1,206 words
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441 1977-02-18 1 PRISONERS serving time can now look forward to a more meaningful life inside. and their dependents to some source of income, thanks to an arrangement the government has made with the private sector. Through Singapore Corporation of Rehabilitative Enterprises (Score), the private sector will441 words
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487 1977-02-18 1 CITIBANK'S merchant banking subsidiaries in Singapore are about to go through a top management reshuffle following the imminent posting of senior executives of Asia Pacific Capital Corp (Apco) and Citicorp Financial Ltd (CFL) to other Jobs within the Citibank group's worldwide operations. Mr John487 words
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Article60 1977-02-18 1 THE 10th annual meeting of the board of governors of the Asian Development Bank will he held in Manila from April 21 to 23. Ministers of Finance and governor* of central banks from 42 nations will attend this meeting to be held at the Philippine International Convention60 words
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Article303 1977-02-18 1 MERCHANT banks and would-be bond floaters are watching closely the New York short-term money market rates in the expectation of a fall in the near future. Banking sources say that one of the reasons why so few US dollar bonds are being floated in the303 words
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375 1977-02-18 1 THE Prime Minister. Mr. Lee Kuan Yew, gave the nation a sombre Chinese New Year message last night: hard times are ahead for all and our expectations of rapidly rising standards of living must be scaled down. However, the hard times can be375 words
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162 1977-02-18 1 PRELIMINARY trade figures released by the Department of Statistics show that Singapore has managed to maintain its trend of a steadily shrinking visible .trade deficit. On a comparison of January months for the last four years, the trade deficit for the month just past162 words
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Page 1 Advertisements
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Advertisement29 1977-02-18 1 Get advanced copying technology. INSIDE Overseas news/TV A Radio Feature* Local International Co news Local stocks P6 Overseas stocks H"< Commodities P8 Transport Communications P9 Local Overseas news PlO29 words
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Advertisement102 1977-02-18 1 for quality gifts and souvenirs I 'Selangor Pewter has long been admired by -connoisseurs the world over for its elegance and beauty. Individually handcrafted from 97% lead free Straits refined tin,the beauty of quality pewter never dates. Functional as it is decorative, Selangor Pewter is the ideal gift. Selangor Pewter102 words
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Advertisement85 1977-02-18 1 Singapore *****3.*****5 A *****0.*****6 Penang ***** CHARTERED > D aft si Providing full merchant banking services throughout South East Asia. A merchant bank owned by The Chartered Bank, a member of the Standard Chartered Bank Group, and Arbuthnot Latham Co., Limited, a member of the Accepting Houses Committee in the85 words
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OVERSEAS
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232 1977-02-18 2 Reuter FRANKFURT, Thurs. Prospects are good for economic growth in most Western Industrial states In 1977, the West German central bank said In its monthly report yesterday. But It warned that tne rate of growth may be slower this year than last. The BonnReuter - 232 words
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475 1977-02-18 2 PARIS, Thurs. Former French Prime Minister Jacques Chirac said yesterday any delay In lifting the ban at New York's Kennedy Airport on the Franco-British supersonic Concorde Jetliner would be "a discriminatory, protectionist measure contrary to International agreements." Mr. Chirac, leader of the Gaulllst475 words
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Article291 1977-02-18 2 AP OTTAWA. Thurs. The Canadian government forecasts expenditures of U5545.12 billion (*****.52 billion) in the fiscal year beginning April 1, an increase of $3 billion over the current year. The seven per cent spending increase is less than predicted previously. Mr. Robert Andras, Treasury Board President, toldAP - 291 words
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Article75 1977-02-18 2 Reuter WASHINGTON, Thurs. 1 The European Common Market Is expected to buy agricultural produce worth US$6.4 billion (5515.7 billion) from the United States during the financial year ending on Sept 30, the Agriculture Department said yesterday. Details of expected EEC purchases were given In a statementReuter - 75 words
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Article79 1977-02-18 2 AP TOKYO, Thurs. Some of China's iron and steel mills suffered seriously from efforts by four radical leaders to stop production and whip up dissension, using force In some cases, a Peking broadcast said yesterday. The official Hslnhua news agency said the situation has beenAP - 79 words
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215 1977-02-18 2 UPI THE HAGUE, Thurs. Striking longshoremen who have slowed the world's largest port at Rotterdam to 50 per cent normal capacity Mt down for a fresh round of wage talks yesterday but refused to halt the 10-day-old walkout until the negotiations succeeded. TheUPI - 215 words
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362 1977-02-18 2 AP OTTAWA, Thurs. Canada and the European Economic Community (EEC) are reported near agreement on safeguards that would permit resumption of Canadian nuclear sales to Europe. An official In the EEC office here said yesterday after talks with Canadian officials there appears to beAP - 362 words
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Article86 1977-02-18 2 will remain volatile' Reuter LONDON. Thurs. Sterling should remain a volatile currency over the next year, a forecast survey of key exchange rates by Amex bank shows. The survey shows the average forecast for sterling up to January 1978 is for an exchange rate more than US$l.7O, (554.16), but thisReuter - 86 words
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374 1977-02-18 2 Reuter MADRID, Thurs. The Governor of the Bank of Spain last night appealed to Spaniards not to smuggle money out of the country saying that any attempt to do so was a "crime against the Fatherland." In an interview on staterun television, theReuter - 374 words
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260 1977-02-18 2 AP UNITED NATIONS. Thurs. Latest UN figures published yesterday showed The Hague the most expensive place and Mexico City the least expensive place for foreigners to live among 91 cities in the world. A table In the February Issue of theAP - 260 words
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Article84 1977-02-18 2 Reuter BANOKOK, Thurs. The Thai government has ordered the temporary closure of the Slam Rath dally newspaper owned by former Prime Minister Kukrlt Pramoj. Mr. Kukrlt writes a column In the newspaper, but the Government said It was the anonymous writer of another column which caused theReuter - 84 words
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324 1977-02-18 2 AP VIENNA, Thurs. Hamid Zaheri, a spokesman for the Organisation of Petroleum Exporting Countries (Opec), said yesterday he could not confirm or deny a Kuwait Newspaper report that the Opec economic commission was to recommend a compromise oil price formula shortly. He saidAP - 324 words
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Article78 1977-02-18 2 Reuter LONDON. Thurs. An overall Eurocurrency financing operation equivalent to US$495 million (SSI.2 billion) is being launched in support of the Acominas Brazilian State Steel Complex, which may represent the largest overseas borrowing effort by Brazil this year. Euromarket bankers here report. Around $200 million is toReuter - 78 words
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349 1977-02-18 2 AP JEDDAH, Thurs. Saudi Arabia has virtually eliminated the crippling port congestion problem at this major Red Sea terminal, commercial sources confirmed yesterday. Ships that last year waited as long as five months to unload cargoes destined for the oilrich kingdomAP - 349 words
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Article289 1977-02-18 2 Reuter DENVER, Thurs. A company aiming to extract oil from oil shane in Colorado said that it could eventually extract up to six million barrels a day of crude oil from shale at current world oil prices. Paraho Development Corporation, formed by 17 energy companies, saidReuter - 289 words
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284 1977-02-18 2 UPI WASHINGTON, Thurs. Federal Energy administrator. Mr. John O'leary told Congress yesterday it will cost up to US$B billion (5519.6 billion) for the United States to buy enough oil reserves so Americans would be protected against another Arab oil embargo. Calling the strategicUPI - 284 words
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Article63 1977-02-18 2 Reuter CHICAGO, Thurs. Mexican President Jose Lopez Portlllo told American business le&ders at a private meeting here yesterday that he foresaw no further devaluation of the Mexican peso. President Portlllo assured them that his country's economy was strong, stable and ripe for American Investment, and that he wasReuter - 63 words
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Page 2 Advertisements
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Advertisement473 1977-02-18 2 i,|(f VY I V/.'/. •4 \> 1 p j£& L> Southeast Asia has as many faces as there are eyes in a peacock's tail— And the Straits Times Annual has painted them all, in peacock-colours. Living up to a long-established record of quality reporting on the culture, on history and473 words
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Page 2 Miscellaneous
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Miscellaneous349 1977-02-18 2 SINGAPORE 5 A.M. Opening Announcements followed by "Lunar New Year Children's Special" (Chinese) Cartoon Favourites* Holiday Matinee "Stowaway to the moon" Starring: Lloyd Bridges, Jeremy Slate Lunar New Year Special -(Chinese) (r) Thriller "The next victim"* Gomer Pyle "Go blow your horn" Steve and Eydie George Gershwin Special* Everest The349 words
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Article, Illustration580 1977-02-18 3 ARTHUR SPIEGELMAN - The A-bomb-by a student By ARTHUR SPIEGELMAN Reuter SEVERAL foreign governments would like a copy of a college paper written by 21year old Princeton University student John Phillips. But the Federal Bureau of Investigation, his professors at the distinguished New Jersey School and the United States Government, among others, object.Reuter - 580 words
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729 1977-02-18 3 DAVID BINDER - By DAVID BINDER NYT WEST Germany has refused to budge from Its commitment to sell nuclear equipment with a weaponsmaking potential to Brazil despite strong demands put forward by the United States in confidential meetings yesterday and today, administration officialsNYT - 729 words
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Article, Illustration985 1977-02-18 3 DON LIPSCOMBE - Australia's mining companies expect 1977 to be an exciting year and that includes new prospects for dia- monds. But a conspiracy of silence over the recent diamond finds has bred some intriguing rumours. -By DON LIPSCOMBE Financial Times BEHIND an almost Impenetrable cloak of secrecy,Financial Times - 985 words
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Article, Illustration508 1977-02-18 3 ROBERT KAYLOR - By ROBERT KAYLOR UPI VIKTOR Belenko, the Soviet pilot who defected to Japan last year with his MIG-25 Jet fighter, brought with him grim details of life In the Soviet military, according to United States IntelliKence sources. The average Soviet soldier, a usually unwilling conscriptUPI - 508 words
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Article119 1977-02-18 3 LETTER TO THE EDITOR YOUR article by Anthony Rowley on the Rent Control Act Is to be commended. However there are two points that your correspondent may have missed. (1) As the rental of these premises are controlled the property tax thereon would also be correspondingly low.119 words
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Page 3 Advertisements
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Advertisement357 1977-02-18 3 Good reading on from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with Nixon,357 words
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Advertisement248 1977-02-18 3 ot cooking this weekend? Come to: O ALLAMANDA RESTAURAN 238, 2nd Floor, Specialists' Centre We are open tomorrow and on Sunday to serve you and your family with delicious Chinese and Indonesian-cooked food, at inexpensive prices. SZECHUAN CANTONESE CUISINE CHINESE SET LUNCH 3 Dishes 6.00 4 Dishes 8.00 5 Dishes248 words
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Page 4 Advertisements
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Advertisement469 1977-02-18 4 How advertisers can mounta campaign aimed at businessmen Tactical information from Business Times 1. Know what you are up against. If you want to advertise to businessmen you have to decide how to reach them. Here's what you are up against: 1. Direct Mail. There's nothing wrong with direct mail469 words
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COMPANY NEWS
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387 1977-02-18 5 DESPITE the dull conditions ruling in the property and private housing markets, mortgage loans at Slngapura Building Society rose by 18.8 per cent to $75.97 million for the first half-year ended Dec 31, 1976. This increase compares favourably with the 7.3 per cent rise387 words
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Article152 1977-02-18 5 THE Kuala Lumpur Stock Exchange has requested Dutch Baby Milk Industries (Malaya) to furnish more information on its new Joint-venture, Majuter-nak-Dutch Baby. The company announced last week that it has taken a 40 per cent Interest in the new company which will manufacture and152 words
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COMPANY MEETINGS
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Article18 1977-02-18 5 (1964) Ltd.: Mar 4. 11.30 a.m.. at Hotel Negara. 19 Claymore Drive, Singapore 9.18 words
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Article18 1977-02-18 5 (1975) Ltd. Feb 28 12.30 pm at Supreme House (11th floor) Penang Road. Singapore.18 words
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Article15 1977-02-18 5 Feb 28, 12 noon, at Supreme House (11th Floor), Penang Road. Singapore15 words
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Article13 1977-02-18 5 Feb 25, 12 noon, at 4701 OCBC Centre, Singapore 1.13 words
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Article22 1977-02-18 5 THE following company meetings are due: Feb 21, 11 a.m., 8th Floor. U.M.B.C. Buildings. Jalan Suleiman, Kuala Lumpur22 words
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Article89 1977-02-18 5 Reuter SAN FRANCISCO, Thurs. Homestake Mining said its gold operations in 1976 incurred a pre-tax loss of US$l.5 million versus a profit of $13.9 million in 1975. Revenues from gold declined by about $14 million, the company added. It blamed the lower results on decreased gold prices on whichReuter - 89 words
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295 1977-02-18 5 THE Capital Issues Committee of Malaysia has approved the rights issue of one-for-two at $1 par of South Pacific Textile Industries. The issue will raise paidup capital from MsB.4 million to $12.6 million. In line with the New Economic Policy, arrangements have been made295 words
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Article218 1977-02-18 5 KINTA Kellas Rubber Estates' interim report for the nine months ended Dec 31 1976 shows that income from its stake in tin is making a substantial contribution to profit. It did not release the company's profit figures. It is one of the Malaysian rubber company's218 words
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Article179 1977-02-18 5 Current Ex Date Total for ToUl for payment Date payable the year previou* year D. Keramat 66.67%+ Jan 26 Feb 17 66 67%+ 65% Ulu Benut 5%TE Feb 2 Feb 17 5%TE 5% N.B. Umber* 3%+ Jan 26 Feb 21 3%+ 15 4%a Strait* Time* 21.5% Feb 11179 words
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114 1977-02-18 5 Reuter FRANKFURT, Thurs. The state owned Australian Shipping Commission Is raising around US$l5O million through an eight per cent eight year borrowers' note loan (Schuldschelndarlehen), Deutsche Bank as manager said. Foreign borrowers frequently use the mark Schuldschelndarlehen market, but this Is believed* toReuter - 114 words
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Article1397 1977-02-18 5 On February 16 PRICES on the Chicago Board Options Exchange pointed higher as gainers topped losers on Wednesday, 247 to 171. CBOE volume approximated 83 941 contracts, down from 84,492 contracts on Tuesday. OPTION OCT JAN APR STOCK Alcoa 50 5 1/4 5 7/8 7 1/8 541,397 words
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Article85 1977-02-18 5 NEW YORK, Thurs. Net fourth quarter profit at Schlumberger rose to US$Bl.O4 million from *,54.2 million on revenue of $489.7 million compared with $433.3 million last time. This raised the full year profit for 1976 to $293.16 million from $219.34 million on revenue of $1.84 billion, up from $1.5985 words
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111 1977-02-18 5 NEW YORK, Thurs. Despite an 11.1 per cent rise in turnover to US$l.2 billion ($l.OB billion), net earnings at International Harvester for the first quarter ended Jan 31, 1977, fell by 18.7 per cent from $28.7 million to $23.9 million. The net earnings are after111 words
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Article107 1977-02-18 5 HONGKONG, Thurs. Hang Seng Bank has reported a 31.4 per cent rise In Its 1976 consolidated net profit to HK1119.7 million ($91.1 million). A final dividend of $2.30 ($2.20) Is declared, making a total of $3.30(13.40) for the year on capital Increased by the one-for-four scrip107 words
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Article83 1977-02-18 5 Reuter LONDON. Thurs. The Shell-Esso Group has made a new oil find in the vicinity of its North Sea Auk field, about 290 km offshore Dundee, a Shell (UK) spokesman said. Shell-Esso made the find while drilling a development well from the Auk production platform. ItsReuter - 83 words
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Article30 1977-02-18 5 NEW YORK, Thurs. NCR has raised its quarterly dividend to 20 US cents a share from 18 cents, payable on April 29 to shareholders on record on March 18.30 words
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Briefly
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Article70 1977-02-18 5 LONDON, Thurs. Toyo Kanetsu ts planning to raise US$l5 million through an Internationally syndicated issue of guaranteed notes due 1982 with an expected 7 3/4 per cent coupon, Yamalchl International (Europe) and SG Warburg said as joint lead managers. The notes, under guarantee of Fuji Bank, will be70 words
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Article35 1977-02-18 5 DUESSELDORF. Thurs. The Korean Development Bank's US$25 million fiveyear 9.50 per cent bond was priced at 99.50 per cent to yield 9.63 per cent, a spokesman for lead manager Westduetsche Landesbank Glrozentrale said.35 words
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Article98 1977-02-18 5 MacMillanBloedel VANCOUVER, Thurs. MacMlllan Bloedel said It Is negotiating through Wood Gundy a private placement of up to US$B5 million in preferred shares. The forest products company said it expected the shares would carry a dividend rate of 5* per cent during the first five years and subsequently a floating98 words
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Article67 1977-02-18 5 NEW YORK, Thurs. Last year TRW has reported a rise in net profit to U*****.1 million from $103.9 million on sales of $2.93 billion ($2.59 billion). In the fourth quarter, net profit came to $36.4 million, up from $31.3 million last time, on sales of $754.5 million ($6BO million).67 words
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Article68 1977-02-18 5 PARIS, Thurs. Banque Louis Dreyfus will issue US$2O milfion of floating rate notes due 1983 with a spread of London Interbank offered rate (Llbor) plus H per cent and minimum Interest of 6.5 per cent, Credit Commercial de France said as lead manager. Co-managers are Banque Natlonale de Paris,68 words
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Article32 1977-02-18 5 AT T NEW YORK. Thurs. American Telephone and Telegraph has raised the quarterly dividend to US$l.O5 a share from 95 cents, payable on April 1 to holders on record on Feb 28.32 words
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Article76 1977-02-18 5 MELBOURNE. Thurs. Unaudited net 1976 profit at Conzlnc Rlotlnto Australia rose to A 568.9 million from $46.4 million. The sharp Increase of 48.5 per cent in earnings was achieved on an equally impressive Jump in sales to $950.6 million from $749.2 million. Government royalties accounted for $40.1 million against76 words
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Article47 1977-02-18 5 TOKYO, Thurs The forthcoming 12 billion yen 10-year bond from the Provincial Government of Manitoba will carry a coupon of 8.6 per cent and be Issued at par, Nlkko Securities said as lead manager. Issue date is Feb 18 with payment for completion by Feb 26.47 words
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Article79 1977-02-18 5 TOKYO. Thurs. Mitsui Engineering and Shipbuilding has developed energy-saving techniques for recovering waste heat from industrial plants by using a new organic catalyst "fluorlnol," developed by Halocarbon of the United States, a company spokesman said. Mitsui has completed experimental development of a closed circuit of fluorlnol to recover waste79 words
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Article35 1977-02-18 5 NEW YORK.Thurs. City of Stockholm US$5O million of trlple-a rated debentures due 1992 were priced at par with an 8 7 4 per cent coupon, a Morgan Stanley syndicate said. Reallowance was set at35 words
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Article63 1977-02-18 5 SYDNEY. Thurs. Consolidated Gold Fields Australia said 1976 shipments of iron ore by the Mount Goldsworthy Joint venturers fell slightly to 7.44 million wet tonnes (7.49 million). A revised study for the development of mining area 'C' has been completed and is under review and evaluation by63 words
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Article37 1977-02-18 5 ST JOHN'S, Thurs. Newfoundland has completed its borrowing programme for fiscal 1976-77, Provincial Finance Minister Mr. C. William Doody said. The province has announced completion of a US$5O million European bond Issue on Tuesday.37 words
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Article28 1977-02-18 5 PARIS, Thurs Net turnover, excluding transactions with other oil companies, at Ste Francaise des Petroles BP rose to 9.12 billion francs from 7.2 billion francs last year.28 words
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Article163 1977-02-18 5 NEW YORK, Thurs. A more than twofold jump In net earnings at Northrop In the fourth quarter of 1976 has boosted its full year earnings by 46.9 per cent to U5536.3 million (5524.7 million). Net earnings In the fourth quarter rose from $7.3 million to $15163 words
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Article78 1977-02-18 5 Reuter TURIN, Thurs. Flat plans to spend nearly 1.1 trillion lire on Investment this year, with four-fifths of this sum to be invested in Italy, industrial relations director Mr. Paolo Annlbaldl told union leaders at group contract negotiations Last year Fiat Group investments totalled 851 buReuter - 78 words
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Article463 1977-02-18 5 DETROIT. Thurs. General Motors expects worldwide capital spending in 1977 for facilities and tools to rise to more than US$3 billion, a record level and over 30 per cent above the 1976 level of $2.3 billion. GM said projected 1977 spending is about 20463 words
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Article127 1977-02-18 5 Reuter MONTREAL, Thurs. Alcan Aluminium said it plans a US$l billion reconstruction and expansion of its Quebec smelting facilities to raise production capacity over an cndeflnite period to 990,000 tonnes a year from 690,000 tonnes. The company said Alcan Smelters and Chemicals, a division of itsReuter - 127 words
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Article459 1977-02-18 5 FT LONDON. Thurs. The British Gas Corp. is expected to end the current financial year with a substantial profit. The undertaking is likely to return a net profit between £25 million and £100 million. The result will largely be Influenced by seasonal demand between now and theFT - 459 words
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Article363 1977-02-18 5 BERLIN, Thurs. The West German Cartel Office in West Berlin said yesterday It will not stand in the way of a 25.01 per cent capital investment in Friedrich Krupp of Essen by the Government of Iran. The deal was signed last October to take effect363 words
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197 1977-02-18 5 LONDON, Thurs. Pre-tax at Carrington Viyella more than doubled to £12.01 million from £5.56 million In 1976. The profit Jump was achieved on a 19.5 per cent rise In sales to £278.16 million (£232.78 million). Earnings per share rose to 3.76p from 1.64p last time and197 words
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201 1977-02-18 5 LONDON. Thurs. Albright and Wilson has enjoyed a 70.6 per cent jump in pre-tax profit t0*£31.64 million (£18.54 million) in the year ended Dec 27, 1976. The big profit increase was achieved on a sales rise of 25.5 per cent to £285.33 million (£227.29201 words
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Article101 1977-02-18 5 Reuter LONDON, Thurs. Norpipe a jointly-owned unit of Statoil the Norwegian state oil company and the Phillips Group, plans to offer a US$l5O million Eurobond due March 15 1989, N.M Rothschild and Sons said as joint lead manager. It said it expects final issue terms to beReuter - 101 words
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135 1977-02-18 5 Chesebrough Ponds income increases Reuter GREENWICH, Connecticut, Thurs. Chese-brough-Ponds, the cosmetics manufacturer, has reported a 2.3 per cent gain In fourth quarter profit last year and a 13 per cent gain In profit for the year. The company said Its net profit totalled U559.25 million, or 29 cents a share,Reuter - 135 words
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Article88 1977-02-18 5 Reuter MIDLAND. Mich, Thurs. Dow Chemical Europe and Saudi Basle Industries reached Interim agreement which will lead to an US$BOO million Joint venture petrochemical complex In Juball, Saudi Arabia. Dow said. The Interim agreement is a continuation of the project that was announced in June, 1974, betweenReuter - 88 words
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Article528 1977-02-18 5 FDA SUSPENSION DECISION Reuter NEW YORK. Thurs. The reaction to the decision by the Food and Drug Administration to suspend Its approval of Monsanto's acrylonltrlle plastic bottle produced an immediate adverse Impact on the company's stock and options. But decision forbids Monsanto from using Its plastic bottleReuter - 528 words
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Article1950 1977-02-18 6 1*7*77 HiCk Lew Ceapaay Last Sale Gr'i Dtv Dhr Cvr Net P/E Vol C096) Day Bigk Low SECTION ONE industrials 175* 131 206 100 237 186 301* 204 248 460 133 130 172 60 185 66 127* 149 172 386 Acma Acma A Alcom Allied Choc BaU1,950 words
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Article957 1977-02-18 6 BID and offer prices officially luted and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown in bracket* in lots of 1,000 units unless otherwise specified All Time Settlement Contracts are S" *1 after the word "Sett." loard957 words
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Article990 1977-02-18 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 lots of 1,000 units unless otherwise specified. INDUSTRIALS A una (1.438). A. TIM (0.458 0 508) (t) 0.49. <a> O.«T.990 words
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Article112 1977-02-18 6 STRIKING prices of the stock optioai officially liatod oa the Stock Eichun af niagapaia the periods, Mdaad aOsr pricea and toakaa, tea jaalacday. witk the auibar af opticas traded shows la bracfests. D.B.S. (Juae $S.M) (4.318 0.328) (1) 4.32. lackacapo (June $2.44) <9.2»'*8 oJ48) (2) 6.28'/k, (I) 0.29,112 words
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Article134 1977-02-18 6 SINGAPORE UNIT TRUST (Muifn'itlwttMit) INCOME BOND UNIT (UnM prices) The Commerce 1.77 i.er INCOMF RDND The String Fund 0.96 S pore Prof Fund 0.11 S pore Security Fund .1.97 Spore Invert Fund ...l.M ASIAN UNIT TRUST (NiMtn' prices far Fe* Xl> Mai Invest Fund 1.7V Mai Prof Fund134 words
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Article166 1977-02-18 6 B O T 8 1/2% IMI (100,000) ilo2*B 103)48) 1881 1/2* IM2 (100,000) iM%B 100SS) B S Convert* S 1/2% 1991 (100.000) (00WB 97*8) E I B 9% 1982 (100,000) (1038 103%8) E I B 8 1/4% IMS (100,000) (99%8 100*48) I B J 8 1/2% 1981 (100,000)166 words
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Article83 1977-02-18 6 5 1/2% 1/10/77-79 (1,000,000) (101.608 101.708) 5 1/4% 15/10/79 (1,000,000) (101.008 101.188) C 3/4% 15/6/80 (1,000,000) (103.00B) C 3/4% 1/12/80 (1,000,000) (102.958) 5% T F 15/4/81 (1,000,000) (101.458 101.558) 5% T F 15/10/81 (1,000,000) (101.40B) 5 V 4% T F 15/4/81-84 (1,000,000) (102.658) 7 1/4% 15/4/8 C83 words
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Page 6 Advertisements
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Advertisement143 1977-02-18 6 found only in the best company... Penguins in Business and Management Understanding Company Financial Statements: J. Parker Organization Theory: D. Pugh Business Strategy: H. Ansoff Corporate Strategy: H. Ansoff Exploration in Management: W. Brown Modern Management Methods: E. Dale Offensive Marketing: J. Davidson Business of Management: R. Falk Modern Business143 words
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Article420 1977-02-18 7 SHARE prices ruled steady to firm in light trading at the Stock Exchange of Singapore yesterday. The market was open for only one and three quarters of an hour's trading before closing for the Chinese New Year holidays. The improved sentiment was attributable to speculative buying420 words
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Article400 1977-02-18 7 SLIGHTLY better buying interest on the eve of the Chinese New Year took prices higher on the Kuala Lumpur Stock Exchange yesterday. The market opened firm, in extension of Wednesday's steadier closing, and continued to move radually ahead. Although levels eased off fractionally towards the close,400 words
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103 1977-02-18 7 NEW YORK, Thurs. Fourth quarter net profit at Transamerica rose to US$29 million from $22 million, raising full year profit for 1976 to $114.4 million from $74.9 million. Earnings per share came to 44 cents (34 cents) in the quarter ana $1.75 ($1.15) in the103 words
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Article50 1977-02-18 7 HONGKONG. Thurs. Cosmopolitan Properties and Secuiines has declared a second interim dividend of three HK cents (nil) for the year ending March 31. 1977. This brings the payout todate to 11 cents (eight cents). The second interim Is payable on March 21 to shareholders registered on March 10.50 words
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Article46 1977-02-18 7 WASHINGTON, Thurs. The US treasury Department said it will auction U552.25 billion of 49 month notes on Feb 23 to raise new cash. The notes will be available in minimum denominations of $1,000 with coupon and price to be determined at the auction.46 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1149 1977-02-18 7 NEW YORK: An Increase in the quarterly, dividend by American Telephone and Telegraph on Wednesday served as a catalyst (or the third consecutive stock market advance, which lost some of Its momentum In late trading. Most analyst, however, believed the gain still was In the form of a1,149 words
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Article508 1977-02-18 7 TOKYO: Prices closed higher on active selective buying In export-oriented shares, on Wall Street's rise and the yen's steadier rate, dealers said on Thursday. The Dow Jones average rose 42.33 to close at 5,056 50 with volume 340 million shares. The new index closed at 381.49, up 2 46508 words
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Article416 1977-02-18 7 SYDNEY: Share prices rose sharply on sustained buying support, particularly from overseas Interests, with higher corporate results also helping market sentiment, dealers said on Thursday. The Sydney All-Ordinaries Index rose 3.87 points to 423.35 CKA Jumped 14 cents to »2 99 on Its 48 per cent rise In profits,416 words
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Article459 1977-02-18 7 HONGKONG: The market closed higher on Thursday In moderate half-day tradlni. boosted by Haag Sen* Bank s higher results and the report of the Inland Revenue Review committee on Wednesday and by gains on overseas markets, dealers said. The Hang Seng index rose 4.12 points to 443.73. Prices rose459 words
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Article248 1977-02-18 7 ZURICH: The stock market* closed Irregularly higher In quiet dealings. Influenced by the slight improvement on Wall Street, dealers said on Wednesday. Elading banks fluctuated narrowly, while Bally registered and Metallwerte firmed In Industrials. Insurances generally closed very steady. In industrials, minor advances and declines were about balanced. Dollar248 words
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Article391 1977-02-18 7 PARIS: The market was weaker on balance on Wednesday, but the decline was not as sharp as falls earlier In the week, dealers said. News of the rise in French unemployment last month was a depressing factor, but this was partly offset by the firm tone of crime Minister391 words
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Article304 1977-02-18 7 TORONTO: Share prices, in a small retreat during the final hour of trading on Wednesday, still closed higher over a broad range Trading was light. Among the major changes, Falconbndge Nickel advanced at 35''2. Harlequin V 4 at 15K, Waiker-Gooderham A H at 29. Ranger Oil one at 21,304 words
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Article163 1977-02-18 7 BRUSSELS: The market was generally lower in quiet endaccount trading on Wednesday, dealers said Wagons-Lits and Acec rose against the trend, while falls included Asturienne, Union Miniere, Hobo ken. FN, Mozane, Ten sender 100 and Cometra. German and Dutch stocks eased, US Issues firmed, gold mines fell, except Vaal163 words
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Article379 1977-02-18 7 JOHANNESBURG: Gold shares traded firmer toward the close In line with the London morning fix, while the rest of the market was largely unchanged In light dealings on Wednesday. Financial minings were mixed Elsewhere. De Beer* lost two cents to 378. Coppers were also mixed and platinums moved off379 words
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Article312 1977-02-18 7 FRANKFURT: Most shares closed weaker, partly offset by foreign Investor selling, dealers said In the bank sector, shares fell as much as 2.80. led by Deutsche Bank. Schering was five marks weaker. Store shares fell between 1.40 and 3.70, led by Karstadt. In electricals AEG lost 0.60, Siemens 2.30312 words
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Article373 1977-02-18 7 AMSTERDAM: The market eased under the threat of continued strike action In Dutch Industry and operators held back awaiting the outcome of the present round of wage talks said on Wednesday. Dutch Internationals were lower, except for Royal Dutch which was unchanged and AKZO which rose 0.80 guilders on373 words
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Article153 1977-02-18 7 MILAN: The market closed Irregularly easier on Wednesday In moderate trading In the last session of the bourse month due to selling and book-squaring, dealers said Fiat, Pirelli SPA and Olivetti lost ground, while Viacoaa Improved. In flnanclals, Battofi closed lower, as did Assicurazioni Generali In Insurances. Bonds closed153 words
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Article149 1977-02-18 7 MANILA: Prices were generally steady In lower turnover, dealers said on Thursday Mining and oils were unchanged but commercials declined. In very cautious trading, they added. Gainers Included Atlaa Coo A and B, and Marinduque B, but Picop A, and Philex A lost ground Unchanged Issues Included Acoje Mining,149 words
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Article57 1977-02-18 7 Feb 47 Bah is Asia Fibre 122 Bangkok Bank 251 Bangkok Invest 150 Bangkok-Metropolitan Bank 2600 sir 377 167 Charoong Thai Wire 163 180 J And J Ho 191 sir Jalaprathan Karnasuta 38 sir Lee Kwang Mln 525 Rama Towers 183 342 Slam Cement 164 Slam Commercial 540 Thai57 words
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Article65 1977-02-18 7 FINANCIAL TIMES INDUSTRIALS Wednesday 385.2 Tuesday i Week ago 387 9 DOW JONES AVERAGE INDUSTRIALS Wednesday 948.30 Tuesday 944.32 Week Ago 933.84 LONDON DOLLAR PREMIUM Wednesday 101 to 101 Tuesday 100"! to 101% H.K. HANG SENG Wednesday 439.61 Tuesday 436 58 Week ago 442.32 SYDNEY INDUSTRIALS Wednesday 346.77 Tuesday65 words
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Page 7 Advertisements
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Advertisement387 1977-02-18 7 Mi d Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar ma lam! Because Penguin books are rather special. They are mind-stimulating, deeply researched, n entertaining in a wholesome way, highly educational J I fJI quite387 words
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COMMODITY REPORTS AND PRICES
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Article214 1977-02-18 8 BOTH the Singapore and Kuala Lumpur rubber markets were closed yesterday for Chinese New Year and will reopen on Feb 21. In LONDON on Wednesday afternoon, clfs closed quiet with Spot unchanged from Tuesday night. Nearby topsheets, were 0.20 to 0.25 pence per kilo lower. The terminal closed214 words
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Article19 1977-02-18 8 Robber: Feb 17. *322" Malaysia: Cloeed Ha: $1,551.00 (up <11.00) Official offering: 170 tonaee (down 05 tonne*)19 words
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Article123 1977-02-18 8 THE Straits Tin price in Penang yesterday was up $11.00 to $1,551.00 on an official offering down 95 tonnes to 170 tonnes. In LONDON on Wednesday, standard and high grade tin gained around £80 for Cash and £100 for Three Months. Market sources reported US buying Interest couple123 words
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Article271 1977-02-18 8 LONDON, Thurs. Copper finished on Wednesday mostly £5.50 per tonne higher for wlrebars and £6 50 and £6 up for Cash and Three Months cathodes. Dealers said this market was Influenced by the strength of lead and tin and US futures which attracted fresh buying and touched off some271 words
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Article287 1977-02-18 8 IN the Singapore gold market yesterday, the kilobar was quoted at a nominal 5510.870 The loco London gold was U*****.20/136.70 nominal, In line with the firmer trend on the US gold futures market Source: Singmas The Slngapoe Chinese Gold and Silver Merchants Association quoted the retail price of gold287 words
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Article253 1977-02-18 8 LONDON. Thurs. Sliver closed 1.4 to 1.0 pence per troy ounce higher on Wednesday. The steadier trend this afternoon mainly reflected the advance In other metals and higher US futures, dealers said. Ring sales were 116 tonnes. Three Months traded at 274.2 pence In the Ring before finishing the253 words
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Article95 1977-02-18 8 LONDON, Thurs. Lead rose by around £12 for Cash and Three Months on Wednesday. Trade sources said the tight supply situation in the US where producers had a well sold position was the main factor behind the advance. Fresh and speculative buying was evident as the market traded up95 words
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Article427 1977-02-18 8 LONDON, Thurs. Coffee futures closed easy on Wednesday afternoon, £23 per tonne down from Tuesday night to unchanged. Volume was 4673 lots Including 164 options. At the close, most positions were trading near to the days lows, having established new contracts highs earlier in afternoon. May closed at £3190427 words
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Article60 1977-02-18 8 LONDON, Thurs. Zinc closed generally £4.50 up for Cash and Three Months on Wednesday. This metal which had recently lagged behind the upsurge In other metals attracted some fresh speculative interest which touched off short covering, market sources said. Ring sales totalled 3725 tonnes. After trading up to £427.5060 words
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Article106 1977-02-18 8 BANGKOK, Thurs. Indicative prices for rice quoted In Bangkok yesterday were: U8 dollars per tonne fob basis Bangkok. White Rice 100 per rent Ist class 282 100 per cent 2nd 267 100 per cent 3rd 262 5 per cent 254 10 per cent 233 JS oer cent 230 20106 words
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Article285 1977-02-18 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLO9ING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk 115 sellers, old drum WO sellers, new drum $85 sellers Copra Mixed (loose) UK/Cont. $55 buyers. Pepper Muntok AST A white fob. 100% NLW >350 sellers. Sarawak white f ob 96% NLW *330 sellers. Sarawak285 words
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268 1977-02-18 8 TOKYO. Thurs. Japanese processors of soybeans have given up their long standing practice of buying soybeans speculatively In the Chicago market, Industry sources said on Tuesday. They said the step has been taken because of heavy losses suffered by the Industry in violent268 words
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Article174 1977-02-18 8 Reuter MANILA, Thurs. Several Philippine copper producers plan to increase their capacity this year, industry sources said. Atlas Consolidated Mining and Development Corp is raising its rated mill capacity to 100 000 tonnes per day from 65,000 tonnes, with production expansion expected to begin laterReuter - 174 words
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Article110 1977-02-18 8 Reuter EAST BERLIN, Thurs. East Germany reported plans to increase tin production some 45 per cent by 1980 using newlydeveloped Soviet processes to extract the metal from poorest grade ores. The East German Erzgebirge region holds some of Europe's richest tin deposit but, according to the ADNReuter - 110 words
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Article117 1977-02-18 8 CHICAGO, Wed. Wheat futures were up slightly at the close but below the day's highs. Final gains ranged from 1/2 to 2* cents a bushel. Prices rose on speculative buying stimulated by the Increase In export market activity and anticipation of more business and expectations of continued deterioration In117 words
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Article104 1977-02-18 8 CHICAGO, Wed. Soybean futures closed with gains of 5K to 3tt cents a bushel. The pickup In export business and commercial buying Interest In the pit prompted short-covering and speculative buvlng which moved prices higher In early dealings. Support was maintained on the strength In meal futures. Soybean meal104 words
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Article285 1977-02-18 8 LONDON, Thurs. On Wednesday, terminal sugar finished the opening call £0.05 with near Mch at £128.75 bid to £0.80 per tonne down from Tuesday night but later showed signs of a mlnorf rally In extremely thin trading. Dealers said the market awaiting the result of Wednesday's Algerian buying tender285 words
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Article109 1977-02-18 8 THE followtnc Palm Oil price* wei -e quoted In Londoi: on Wednesday The prices are clf Rotterdam and are quoted in US dollar Der ton unleis otherwise stated Malaysia 5H (fa bulk Wednesday Pre*. Apl/May 502 sir 509 sir Sumatra 5H Feb unch 515* Mch unch 512.50* 510/508.SO*109 words
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MONEY AND EXCHANGES
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Article223 1977-02-18 8 NEW YORK, Wed. The dollar closed slightly firmer after speculative positions against sterling were unwound in the face of stability in the spot pound rate, dealers said. The Bank of England was not noticeably active in the US market but the threat of intervention to maintain the rate223 words
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Article487 1977-02-18 8 SINGAPORE'S domestic money market opened at the 12 to 13 per cent level for overnight funds and stayed there for most part of yesterday. Dealers said that seasonal requirements had pushed overnight rates up In a fairly balanced market. They did not discount the possibility that lenders had also487 words
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Article48 1977-02-18 8 RESULTS of tender held on Feb 17 for 91-day Treasury Bills to be Issued from Feb 21 to Feb 25. 1977. Offered: $40,000,000 Applied for: $86,050,000 Allotted: $40,000,000 Accepted Bids: $99.26 apEroximately 51%; higher ids In full. Average rate of discount on allotment: 2.950% pa48 words
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Article182 1977-02-18 8 Asian rates ASIAN currency deposit Interbank rates as at close on Feb 17. US Dollars (Spot) Offer Bid 7 days ..4 3/4 4 5/8 1 mth 4 7/8 4 3/4 2 mths 5 1/1# 4 15/16 3 mths 5 3/16 5 1/16 6 mths 5 5/8 5 1/2 9 mths182 words
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Article50 1977-02-18 8 RANGE of prices offered by discount houses on Feb 17 Overnlfht 2 to 3% Call deposit 2S to 3* ClMimc Buy Selling 3-month Treasury bills 3 27/8 3-Month Bank bills 41/B 4 3-Month CD 4 1/2 4 3/8 8-Month CD 4 5/8 4 1/2 Source: National Discount Co.50 words
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Article56 1977-02-18 8 Minimum lending rates (in ACBC 6*, First Chicago 6*« Algemene Bank 6* Citibank 6** Bangkok Bank .7* HSBC Bank of America 6*. Indosuez 6*» Bank of China .7 Malayan Banking 6*« Bank of Tokyo 6*. Mitsui Bank 6^. Bank Negara OCBC Indonesia .7 OUB Chartered Bank 8*. UCB 7 Chase56 words
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Article52 1977-02-18 8 AUSTRALIA/NZ exchanges quoted on Feb 17. Australia: Sterling 0.6430/ 0.6357 US dollar 1.0944/ 1.0896 Ninety-day air mall buying rates: Sterling 0.6691 US dollars 1.1194 Ninety-day forward buying rates: Sterling 0.6572 US dollars 1.0929 New Zealand: Sterling 0.5594/ 0.5563 US dollar 0.9595/ 0.9495 Ninety-day forward rate: Sterling 0.5921 US52 words
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Article58 1977-02-18 8 ZURICH exchanges closing quotes on Feb 16. US 2.5145 5153 UK 4.2905 2935 Can 2.4515 4535 W Germ 104.70 77 Neth 100.31 39 France 50.58 62 Belg 6.83 83% Denm 42.53 56 Norw 47.64 68 Swed 59.35 39 Italy 0.2850 2853 Austria 14.72 74 Port 7.71 74 Spain 3.6458 words
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Article32 1977-02-18 8 FRANKFURT exchanges closing quotes on Feb 16. US 2.4005/15 Can 2.3350/70 UK 4.095/105 Neth 95.76/82 Swltz 95.40/46 Italy 2.72/73 France 48.27/33 Japan 0.8445/55 Belg com 6.515/525 Belg fin 6.515/525 Norw 45.50/5632 words
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804 1977-02-18 8 NYT BOGOTA, Thurs. As a major coffee exporter, Colombia has proposed a plan that coula, if widely accepted, prevent further coffee price Increases and perhaps reduce prices gradually. The proposal made to other members of the International Coffee Agreement, subscribed to lastNYT - 804 words
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Advertisement31 1977-02-18 8 Keep in touch with business developments in Singapore wherever you are in the world Subscribe now to Business Times BUSINESS TIMES Singapore's Financial Daily Subscription Rates (in Singapore currency) a ->*§■ i31 words
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TRANSPORT AND COMMUNICATIONS
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Article, Illustration1021 1977-02-18 9 DEIRDRE CARMODY - By DEIRDRE CARMODY NYT MEN once bought newspapers to achieve power. Some became formidable press lords whose Influence, for better or worse, helped shape the country's history. Others became a powerful voice In their communities. Power may still be a publisher'sNYT - 1,021 words
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1065 1977-02-18 9 DAVID LASCELLES - Seemingly well behind the Americans in the manned space exploration field, the Russians are concentrating vast amounts of money and effort some in collaboration with other countries in potentially more valuable areas. I in LONDON Bv DAVID LASCELLES IN THE final days of 19761,065 words
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565 1977-02-18 9 Reuter NEW YORK, Thurs. A 250,000-tonne oil tanker docked on Tuesday at a Jetty In Mllford Haven. Wales, without aid of tugboats and without spilling a drop of oil. Amid clanging bells, radio messages from shore and shouts back and forth between the bridgeReuter - 565 words
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Article, Illustration230 1977-02-18 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Dona Montserrat (2030 after Blue Moon) 35/ 36 Dugl Otok (0600 after Venezuela Maru Blue Moon) 38/ 39 Gudrun Bakke (1800 after Primorje) 1/2 Gyosei Maru (Caf Carrier) (0600 after Sea Iris) 31/ 32 Heng Shan (HPED) (2300 after Rasa Sayang sails) 42/230 words
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Article151 1977-02-18 9 AP LONDON, Thurs. More lively North American grain chartering Injected a firmer tone vesterday Into US Oulf-Japan rates on the shipping freights market. The change was seen in the achievement nf US$lO.5O (FIO) by the 25,000-tonne spot-prompt loader. Fort Kamloops. Recently, such tonnage could obtain only US$ 9.50.AP - 151 words
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Article618 1977-02-18 9 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG OA OA472 0200 SYD/MEL MAS MH682 0810 KCH PAA PA841 0950 SFO/HNL/GUM JAL JL712 1000 HLP SIA SQ211 1010 HLP gia GA980 1030 HLP GIA GA908 1100 MES PAL PR601 1115 MNL KLM KL833 1150 AMS/ATH/618 words
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Page 9 Advertisements
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Advertisement743 1977-02-18 9 APPOINTMENTS r SALES MANAGER BUILDING MATERIALS ($25,000/- p«r annum) The local subsidiary of an international manufacturing group, investing in a modern pioneer status factory in Singapore, wishes to fill the above post by April/May 1977. The successful candidate will join a young local team of achievement orientated managers in a743 words
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485 1977-02-18 10 RADAR TO HANDLE'2SO PLANES AT ONCE THE GOVERNMENT will be spending over $100 million on various navigational aids for the new International Airport at Changi, in order to improve Singapore's position as a major air communications centre in the region. In the pipeline485 words
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435 1977-02-18 10 ONE OF Singapore's quieter offshore banks, Continental Illinois of Chicago, has suddenly pulled off a surprise loan deal with the national carrier, Singapore Airlines. Together with its sister bank based in Los Angeles, Continental Bank International (Pacific), the Singapore branch has raised435 words
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541 1977-02-18 10 AP LONDON, Thurs. Prime Minister Mr. James Callaghan's problem-plagued government braced for a major battle today with labour unions and leftwingers after he declared he will not scrap pay curbs and warned them to stop "bellyaching." The clamour for an end to aAP - 541 words
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243 1977-02-18 10 Reuter JERUSALEM, Thurs. US Secretary of State Cyrus Vance said yesterday the Palestine Liberation Organisation (PLO) must recognise Israel's right to exist in order to qualify for a place at the Geneva peace conference. Addressing a press con- j ference after talksReuter - 243 words
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434 1977-02-18 10 KUALA LUMPUR, Thurs. Insurance companies have been asked to submit to the office of the Director General of Insurance (DGI) on how much money is owing to them by brokers and underwriting agents. Business Times understands that the DirectorGeneral, Mr.434 words
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261 1977-02-18 10 IN lest than seven years, the number of banks operating here ho' doubled, as Singapore has developed as a financial centre. The current number of commercial banks with branches here is 72 compared with only 37 at end--1970, according to sources from261 words
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Article109 1977-02-18 10 TWO large suits were filed with the High Courts on Wednesday. The first, filed by Ino Shipping Service, sued Nik Ismail Bin HaJ Nik Sai, trading as Isomar Shipping and Trading, for $402,513. The amount sued was allegedly due for freight and damage charges under an agreement. In the109 words
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Article43 1977-02-18 10 AP MEXICO CITY, Thurs. A three-day-old rubber workers'' strike may be costing US$4OO,OOO (*****,000) a day in lost production plus additional lost wages, according to management estimates. The strike Involves units of US tyre manufacturers Goodyear, Uniroyal and General Tyre. AP.AP - 43 words
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253 1977-02-18 10 RONALD LAM - Compiled by RONALD LAM SCRIP RIGHTS ISSUES Lien Hoe Industries: Scrip Issue of one-for-two, capitalising M 51,718,995. South Pacific Textiles Industries: Rights Issue of 4.2 million new MSI shares on the basis of one-for-two at par. (NB: This was announced by the253 words
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Article252 1977-02-18 10 KUALA LUMPUR TRADING at the Kuala Lumpur Stock Exchange remained lacklustre in the holiday-shortened week. Price movements were narrow and volume remained low as the market fell into the Chinese New Year festive mood. Turnover in the three-and-a-half days of tradingcame to only 3.16 million units252 words
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262 1977-02-18 10 KUALA LUMPUR, Thurs. A complicated situation has arisen over the record date for the special dividends to be paid by Golden Hope, London Asiatic and Pataling, which were declared as part of the merger scheme between the three companies. To comply with the rules of262 words
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353 1977-02-18 10 A BRAND new market research study o1 Asia's business and professional elite was unveiled yesterday by Mr. Mark Edmlston, publisher of Newsweek International, at the magazine's global sales meeting held in the ShangrlLa hotel. The study covers the following eight Asian capital city markets,353 words
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Article, Illustration225 1977-02-18 10 Contrary to the general belief that it would be an auspicious year for the stock market, the Year of the Dragon which ended yesterday turned out to be anything but that. Share prices on the Stock Exchange of Singapore moved erratically for most of the year, with bearish225 words
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Article508 1977-02-18 10 SINGAPORE FOR the gTeater part of this holiday-shortened week, trading activity at the Stock Exchange of Singapore was practically at a standstill. Prices marked time until yesterday when sentiment lifted a little on speculative buying In anticipation of a bullish trend after the Chinese New Year. In508 words
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Page 10 Advertisements
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Advertisement146 1977-02-18 10 SECURE a BRIGHTER FUTURE in ACCOUNTANCY with FOULKS LYNCH Founded over a century ago, Foulks Lynch the specialists in accountancy education have tutored over 150,000 students around the world to success in the various accounting examinations. You too can be one of them. Now FOULKS LYNCH courses for the following146 words
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