The Business Times, 17 March 1977
1977-03-17
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The Business Times
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Title Section10 1977-03-17 1 BUSINESS TIMES M.C.(P) 300/1/77 THURSDAY, MARCH 17, 1977 SO CENTS10 words
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NEWS IN BRIEF
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Article83 1977-03-17 1 AP HANOI, Wed. The first official US mission to Vietnam since the end of the war two years ago arrived here today and received a quiet but polite welcome. The head of US President Jimmy Carter's Commission, United Auto Worker president Leonard Woodcock, led the four otherAP - 83 words
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Article47 1977-03-17 1 Reuter MANILA, Wed. The Philippines Monetary Board will probably consider on Friday which foreign banks are to be Issued licences to operate offshore financial activities here, Finance Secretary Cesar Virata said. At least 13 banks from the United States, Europe, Britain and Japan have applied.Reuter - 47 words
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Article57 1977-03-17 1 AP BEIRUT, Wed. Mr. Kamal Jumblatt, leader of the leftist alliance In Lebanon's civil war, was killed In a machlnegun ambush today, police reported. The 59-year-old socialist leader, target of several assassination attempts in the past, was killed while riding in his car In the mountain town ofAP - 57 words
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Article35 1977-03-17 1 The Internal Security Department yesterday released Chan Ket Teck, Ngoh Teck Nam and Chua Chap Jee. They were Implicated by O. Raman for involvement In pro-communist activities, and were arrested In mid-February.35 words
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Article62 1977-03-17 1 MR leng Sary, the Deputy Prime Minister In charge of Foreign Affairs of Cambodia, will make an official visit to Singapore from March 21 to 24, the Singapore Government announced yesterday. He will be accompanied by senior officials from the Cambodian Ministry of Foreign Affairs, and62 words
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Article66 1977-03-17 1 Reuter NEW DELHI, Wed. Indians voted heavily In their general election today and the high voter turnout is expected to favour the opposition. Polling was completed In 300 or the 542 Lok Sabha (Lower House) seats today and reports from around the country indicated that the turnout wasReuter - 66 words
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Article56 1977-03-17 1 Reuter LONDON, Wed. The leaders of 3,000 toolmakers on strike at British Leyland today offered to recommend a full return to work on Monday on two conditions: That the company withdraws Its threat of dismissals, and gives an assurance that It will meet toolmakers' and union representatives onReuter - 56 words
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Article44 1977-03-17 1 UPI NEW YORK, Wed. Dow Jones averages, based on the first hour of trading today on the New York Stock Exchange: 30 Indus 966.34, up 1.33; 20 transp 227.41, up 0.05; 15 utlls 106.37, down 0.07; 65 stocks 313.96. up 0.24. UPI.UPI - 44 words
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Chief Price Changes
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Article, Illustration160 1977-03-17 1 EASIER conditions continued to prevail over the Stock Exchange of Singapore yesterday in light trading. On the option board, the tone was mixed. Reflecting the easier trend, the Business Times index fell 2.59 points to 258.54 while the Straits Times Industrial average shed 0.79 point to 252.15.160 words
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Article126 1977-03-17 1 Falls Most active S. Trading C and C $5 80 $1 02 -.10 Slme Darby 194 000 -.07 Haw Par 83,000 $2 81 $3 16 $7.10 $3 38 $3 72 $1.89 $1 32 tises $2 60 $3 60 $2 01 $4.00 $1 68 $1 70 -07 H'land126 words
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313 1977-03-17 1 Asean NZ tariff cut is under study ASEAN and New Zealand are now studying prospects of lowering tariff walls and non-tariff barriers to Improve two-way trade. A study group formed between the two sides has also begun talks on the possibility of New Zealand absorbing more Asean products Into the313 words
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Article68 1977-03-17 1 TWO stockbroklng firms have filed suits In the High Court against separate Individuals. Phillips Securities, represented by Braddell Brothers, Is suing Mr. Lee Soon Alk for 924,459 alleged to be money due and owning to the plaintiff. Pacific Union, represented by Ng Klan Fong and Co, Is68 words
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708 1977-03-17 1 COLIN CHEE; QUEK PECK LIM - WITH FRENCH AS PARTNER By COLIN CHEE QUEK PECK LIM THE Hong Leong Oroup Is believed to have applied to the Monetary Authority of Singapore for a licence to operate a full-service commercial bank. The application was made some time back708 words
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Article, Illustration625 1977-03-17 1 THE Oovernment was yesterday urged to establish close liaison and cooperation with the private sector to prevent the stifling of the Innovative spirit of private entrepreneurs as a result of misgivings or misconceptions arising from the misinterpretation of its policies. This appeal was made by the625 words
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Article195 1977-03-17 1 Reuter HONGKONG, Wed. A further HKS6SO million (***** million) seven-year loon at m per cent over the Hongkong beet lending rate has heen arranged for the Mass Transit Railway Corp (MTR), Wardley, the managers, said today. Unlike previous loane to the MTR, thisReuter - 195 words
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269 1977-03-17 1 THE Minister for Finance, Mr. Hon Sul Sen, yesterday urged members of the Singapore Chinese Chamber of Commerce (SCCC) to make more serious attempts to operate outside their customary markets so as to prepare for unforeseen developments in the International economy. He said although the269 words
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285 1977-03-17 1 INDUSTRIAL Arbitration Court president, Mr. Tan Boon Chiang, yesterday called for guidelines for integrating NWC wage rises into the salary structure. Mr. Tan said guideline* were necessary to eliminate the complexity in salaries and wages when enforcing NWC recommendations. Integration285 words
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309 1977-03-17 1 Reuter LONDON, Wed. Merchant ships built throughout the world dropped In tonnage last year for the first time for 15 years, according to figures published by Lloyd's Register of Shipping. At 33.9 million gross tonnes, the total tonnage completed In 1970 was 300,000Reuter - 309 words
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309 1977-03-17 1 A SINGAPORE trade delegation to West Asia, comprising members of the Joint chambers of commerce and the Singapore Manufacturers Association, has returned with substantial orders for local products. Mission leader Enclk Ghazall Cafoor, the president of the Malay Chamber of Commerce, said these309 words
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Page 1 Advertisements
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Advertisement46 1977-03-17 1 P3 Colour TV is singly great SEEPAGE 11 SEE PAGE 11 SEE PAGE 2 INSIDE Oveneai new*/ TV A Radio Overseas news/ Features Local Co news International Co news Local stocks Overseas stocks P2 Commodities Transport ft ComP3 muni cations P4 Features P5 Local it Overseas46 words
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Advertisement94 1977-03-17 1 Hon g Leong your company [***** Hong Leong Finance provides a wide range of financing services that meets today's commercial and industrial needs. With its vast resources, expertise and experience Hong Leong is able to bring professionalism to finance, using it effectively to help new companies get started or established94 words
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Advertisement97 1977-03-17 1 llKuniahira BANK \ALJU M SAFEDEPOSTT A DATA SAFE Ij STRONG SAFE SAFERUE y Super TriStar Service to Hong Kong, and on to Taipei andlbkyo. Cathay Pacific introduces daily Super TriStar flights to Hong Kong, and on to Taipei and Tokyo, departing Singapore at 11.20 am. Call your Travel Agent, or97 words
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OVERSEAS
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561 1977-03-17 2 Reuter UPI AP WASHINGTON, Wed. President Carter is expected to move swiftly to sign into law a bill giving him power to reimpose a US ban on Im6orts of chrome from hodesia. The Senate approved the bill last night by a voteReuter; UPI; AP - 561 words
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Article244 1977-03-17 2 Reuter PARIS, Wed. Gaulllst leader Jacques Chirac Is expected to be elected Mayor of Paris on Sunday after striking a deal today with the rival Government candidate nominated by President Glscard. The agreement between Mr. Chirac and Industry Minister Michel d'Ornano was designed toReuter - 244 words
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Article125 1977-03-17 2 Reuter PARIS, Wed. French unemployment rose to a postwar record of 972,400 in February, a 2.85 per cent Increase over January and 8.3 per cent up on the same month last year, the Labour Ministry said yesterday. On the basis of a workforce of 22Reuter - 125 words
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Article, Illustration62 1977-03-17 2 AN unusual view of two pillars under construction for a new 900-metre long autobahn bridge over the Neckar river near Weitlingen, West Germany. The bridge will connect Stuggart with the Bodensee lake region in the south-west. The picture was taken from the beamSource: UPI photo - 62 words
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306 1977-03-17 2 Reuter LONDON, Wed. Defiant first reactions have come from 3,000 skilled key workers told to return to their Jobs or be fired by British Ley land, the stateowned vehicle giant said by the government to be "bleeding to death." The stern ultimatum from theReuter - 306 words
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408 1977-03-17 2 UPI DAR ES SALAM, Wed. Tanzanlan government officials planned a hero's welcome today for Cuban Premier Fidel Castro, who arrives from Ethiopia tomorrow for a three-day state visit. "It will be the biggest reception ever accorded a state guest," one official predicted. TheUPI - 408 words
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394 1977-03-17 2 BONN, Wed. West Germany's nuclear power programme will be set back two years by yesterday's surprise court ban on a Rhine-side power station and valuable export orders could be lost, the country's biggest nuclear manufacturing group said yesterday A Freiburg court yesterday394 words
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186 1977-03-17 2 Reuter ZURICH, Wed. A new 200 million Swiss franc (about SII9O million) loan floated by the World Bank In Switzerland appeared yesterday to have been undersubscrlbed and Bourse trading has been delayed for two days, bond market sources said. The 15-year loan, paying InterestReuter - 186 words
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728 1977-03-17 2 AP SALISBURY, Wed. Rhodeslan Government officials said yesterday the latest Anglo American Initiative to bring peace to this embattled former British colony was doomed to failure unless there are direct contacts with the white minority government. The proposed visit next month toAP - 728 words
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Article157 1977-03-17 2 AP ACAPULCO, Wed. Ecuadorian businessmen are opposed to their country's membership In the Organisation of Petroleum exporting Countries (Opec), a leading banker said yesterday. "All it has brought us Is free travel for our Government officials. Our businessmen are against It," Mr. Nahlm Isalas, managerAP - 157 words
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376 1977-03-17 2 UPI MAR DEL PLATA, (Argentina), Wed. US delegate Charles Warren says population control Is the "core issue" In any assessment of the world's future water needs, warning that any nation must "get Its house In order to feed Its own people." Mr Warren, speaking toUPI - 376 words
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Article27 1977-03-17 2 Reuter SANTIAGO, Wed. The World Bank will grant Chile a loan of US$25 million (Ss6l million) for asrlcultural development, a Finance Ministry decree said. ReuterReuter - 27 words
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388 1977-03-17 3 AP WASHINGTON, Wed. Representatives of 26 nations tentatively agreed In Vienna yesterday to contribute US$7.6 billion (5516.4 billion) to a World Bank programme aimed at aiding the underdeveloped nations, it was announced here. The money would be used to make Interest-freeAP - 388 words
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337 1977-03-17 3 TOKYO, Wed. The Lockheed Aircraft Corporation pressured its local agent, Marubeni Corporation, with a commission reduction before It started efforts to sell Trlstar Jets In Japan, a witness testified today at a trial of former prime minister Kakuel Tanaka. The testimony came In337 words
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327 1977-03-17 3 Reuter !NEW YORK, Wed. The World economy will grow at a rate of only about 3.5 per cent this year, due mostly to inflation In the non-com- munlst Industrialised world, the Chase Manhattan Bank said today. In Its bi-monthly report titled "Business InReuter - 327 words
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255 1977-03-17 3 UPI CANBERRA, Wed. Australian Foreign Minister Andrew Peacock said In parliament yesterday that Australia will help in the peaceful development of nuclear energy coupled with tightened non-prolifera-tion safeguards. In a major foreign affairs speech, Peacock also said nuclear energy development throughout theUPI - 255 words
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Article510 1977-03-17 3 Reuter MANILA, Wed. Intelligence activities are being Intensified in northern Philippines following an apparent resurgence of operations by the communist New People's Army (NPA) despite the capture last year of many of its top leaders, military sources said today. Brigadier General Romeo Oatan, whose exploitsReuter - 510 words
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343 1977-03-17 3 Reuter OTTAWA. Wed. Canadian unemployment last month soared to 932,000, or 7.9 per cent of the workforce the first time the figure exceeded 900,000 since statistics Canada began keeping figures in 1953, the government agency said today. In January, the total number of peopleReuter - 343 words
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Article52 1977-03-17 3 Reuter COPENHAGEN, Wed. Danish Finance Minister Knud Helnesen will request Parliamentary authorisation for 14 billion crowns of new loans, five billion of which are to be raised abroad. Helnesen said the government will need a total 18 billion crowns to finance Its budget deficit In the coming financialReuter - 52 words
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587 1977-03-17 3 NEW YORK, Wednwdoy. AP INDUSTRIAL production snapped back In February from the slump triggered by January's record cold, the Federal Reserve Board reported yesterday. There are some Indications that the production burst Is continuing this month. The automobile industry, for example,AP - 587 words
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370 1977-03-17 3 AP NEW YORK, Wed. Bank lending to developing nations which has soared dramatically In the past three years "will need to slow down," Chase Manhattan Corp. Chairman Oavld Rockefeller said last night. "Bank debt to a number of these countries has been expandingAP - 370 words
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403 1977-03-17 3 AP WASHINGTON, Wed. President Carter is being urged by his chief farm adviser to decide quickly to reduce sugar Imports. US Agriculture Secretary Bob Bergland wants Imports of cheaper foreign sugar reduced to help drive up prices for American producers.AP - 403 words
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114 1977-03-17 3 Reuter WASHINGTON, Wed. Federal Energy Administrator John O'Leary told Congress the Carter Administration does not intend to lnnneh the government into a large scale oil exploration programme along the US Outer Continental Shelf (OCS). Some Sena tort expressed concern that pending legislation on development ofReuter - 114 words
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Article152 1977-03-17 3 AP ACAPULCO, Wed. Mexico Is securing new loans despite the fact it Is negotiating easier payments on Its huge foreign debt to help it out of a sharp economic crisis, a leading Mexican banker said yesterday. The countrv has already managed to negotiate some short termAP - 152 words
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387 1977-03-17 3 Reuter WASHINGTON, Wed. Representatives of the seven countries attending the economic summit In London on May 7 and 8 have agreed It will focus on world economic recovery, trade and energy and issues affecting rich and poor nations, US Administration sources saidReuter - 387 words
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149 1977-03-17 3 Reuter BONN, Wed. West Germany's planned mediumterm Investment programme will total over 15 billion marks, several billion more than earlier envisaged, Finance Minister Hans Apel said. Nearly eight billion marks will be spent on new orders In the next two years, 3.3 billion this yearReuter - 149 words
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Article43 1977-03-17 3 Reuter LONDON, Wed. The UK/Port Said freight conference said It will Increase rates of freight, including minimum charges, for Port Said and Suez by around 12.5 per cent, effective on vessels loading at UK ports from June 1. Reuter.Reuter - 43 words
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Page 2 Advertisements
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Advertisement96 1977-03-17 2 Rainier National Bank operates in six time zones. So, when the day ends in Singapore, the morning sun is just rising over the Thames. For those whose interests lie in Alaska and the Pacific Rim, Rainier offers a unique knowledge of these areas. Our international network is growing, too, and96 words
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Page 2 Miscellaneous
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Miscellaneous339 1977-03-17 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on March 16 at Singapore airport. Maximum temperature Associated humidity Minimum temperature 23.1 C Associated humidity Hours of sunshine Rainfall in millimetres nil Total rainfall for the month 1-22 Total rainy days for the month 2 RADIO TV SINGAPORE339 words
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Page 3 Advertisements
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Advertisement179 1977-03-17 3 TTT7 I T K 1 t"<| I 8 0 vats *p. m > giving more than 18km/Ktre (50m.p.gJ DA»HATBU t: S 40T PICK UP $6,100/ NETT U1825) B<1210) x H(27s)mm 6 0" 4 0" O'lV GVW: 1270 kg Pay load 710 kg Road Tax: (6 mths) $72/ Classified as "goods'179 words
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COMPANY NEWS
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687 1977-03-17 4 SHAREHOLDERS Of Hongkong Tin have voted unanimously to restructure the company's capital to provide for bumlputra participation. The resolution, which made particular reference to the Perbadanan Kemajuan Negerl Selangor (PKNS), was passed after a marathon four-hour extraordinary general meeting of the687 words
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448 1977-03-17 4 ALTHOUGH five months elapsed since the publication of preliminary figures from Perlis Plantations for the year ended Sept. 30, 1976, the final audited results are much in line with the figures produced last October. Perils' own profit sagged heavily as a result of the448 words
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Article93 1977-03-17 4 DR. Richard Hu Tsu Tan has assumed office as chairman and chief executive of Shell companies in Singapore following the retirement of Mr. J.J. Gerzon. Mr. P.K. Barraclough has resigned from the board of Riverview Rubber Estates Berhad. Mr. Richard Hugh Mauleverer Lindesay has been appointed to93 words
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Latest results
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Article48 1977-03-17 4 Pre- tax profit M 53.95 million ($3.53 million) on sales of $27.4 million ($24.28 million) for the year ended Dec 31, 1976. After-tax profit $2.03 million ($1.85 million). First and final dividend 10 cents (adjusted eight) on enlarged share capital of $12.9 million, payable May 18.48 words
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Article63 1977-03-17 4 Net 1976 pro- fit after depreciation M 5499,000 ($322,000) on total Income $3.05 million ($l.Bl million). Final dividend 20 per cent (same) less tax, payable on June 16 to shareholders registered on June 2, making total 30 per cent (27.5 per cent). Rubber production 1.06 million kg63 words
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COMPANY MEETINGS
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Article22 1977-03-17 4 THE following company meetings are due: Mar 17, 11 a.m., Registered Office, 178-3 Jalan Sungel Besl. Kuala Lumpur.22 words
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Article17 1977-03-17 4 Mar 19, 12 noon, Registered Office, No. 5 Jalan 203, Petallng Jaya, Selangor17 words
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Article15 1977-03-17 4 Mar 21, 10 a.m.. 13th Floor, Tunas Building. Anson Road, Singapore 2.15 words
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Article12 1977-03-17 4 Mar 22, 11 a.m., Registered Office, Batu Tiga, Selangor.12 words
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19 1977-03-17 4 Mar 23. 11 a.m., 11th Floor, Chartered Bank Building, 2 Jalan Ampang, Kuala Lumpur.19 words
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Article21 1977-03-17 4 Mar 23, 12 noon. Studio 3, sth Floor, Kuala Lumpur Hilton, Jalan Sultan Ismail, Kuala Lumpur.21 words
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17 1977-03-17 4 Mar 24, 2.30 p.m.. Registered Office, 70 Jalan Ampang. Kuala Lumpur.17 words
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Article20 1977-03-17 4 Mar 25. 10.30 a.m., Registered Office, 12th Floor, Fltzpatlck's Building. 86 Jalan Raja Chulan. Kuala Lumpur.20 words
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Article13 1977-03-17 4 Mar 25, 12 noon, Registered Office, 14 Lokyang Way, Singapore 22.13 words
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Article17 1977-03-17 4 Mar 29, Registered Office, Road No. 7, Port of Singapore Authority, Singapore 4.17 words
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Article49 1977-03-17 4 HARRISONS Malaysian Estates said acceptances for its share exchange offer for Golden Hope Plantations total 89.7 per cent of the equity of Golden Hope. Acceptances for similar offers for London Asiatic Rubber and Produce and Patallng Rubber Estates total 84 per cent and 84.1 per cent respectively.49 words
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346 1977-03-17 4 Profit of A W's Jurong Drive-in sale negligible A and W oi Singapore, a wholly-owned subsidiary of Temenggong, made an insignificant profit on the sale of the A and W Drive-In Building in Jurong last November. However, after taking into account various writeoffs and expenses, the sale resulted In a346 words
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Article452 1977-03-17 4 Current Ex Date Total for ToUl for payment Date payable the year prev ious year M. Tobacco 35% Feb 7 Marl8 50% 40% Wilkinson Process 15* Mar 7 Mar 24 20% 39.1%a Idrii Hyd 30%I Mar 25 eo%i 71.5% Tanjong Tin 13.3HI Mar 25 26 7%I 30 9%452 words
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Article1473 1977-03-17 4 On March 15 ON the Chicago Board Options Exchange on Tuesday, total of 110,086 contracts were traded. Monday's volume was unavailable because of transmission problems. The number of advances was 371 compared with 140 declines. OPTION APL JLY OCT STOCK Alcoa SO 91/4 10 9 3/4 101,473 words
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Article352 1977-03-17 4 OLYMPIA Plywood and Timber Products has made an Impressive turnround In the year ended Oct 31, 1976, with a pre-tax profit of M 51.71 million compared with a loss of 5786.853 previously. This followed a more than three-fold Increase In sales to $11.94 million. Though352 words
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281 1977-03-17 4 THE recent boom In commodity prices Is well reflected In Batu Llntang Rubber's half year results for the period ended Dec 31, 1976. Coupled with higher production of rubber and a substantial increase In oil palm harvested during the period, pre-tax profit Jumped281 words
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918 1977-03-17 4 M. LAFFERTY - By M. LAFFERTY F.T. ENOUGH has now been said about what Is wrong with the Morpeth current cost accounting (CCA) proposals, contained In exposure draft EDI 8, for some Ideas to emerge of what might be a better alternative. So far, however, thereF.T. - 918 words
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Article456 1977-03-17 4 NYT NEW YORK, Wed. The failure of an old and respected brokerage firm In Chicago on Monday provides a disquieting backdrop for news from the New York Stock Exchange yesterday that customer's margin debt set another record high In February. Swift, Henke's problems appearNYT - 456 words
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214 1977-03-17 4 Reuter WASHINGTON, Wed. The Federal Trade Commission has moved to block the acquisition of Monroe Auto Equipment by Tenneco Incorporated on grounds it would cut competition in the market for shock absorbers and exhaust system parts. The agency voted to direct its staffReuter - 214 words
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Page 4 Advertisements
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Advertisement116 1977-03-17 4 FRENCH TECHNICAL EXHIBITION Pekan Raya JAKARTA. 26March 3 April 1977. After Kuala Lumpur (1973) and Singapore (1975), France invites you to visit its third exhibition. You will get a complete panorama of French Techniques, (electrical and electronics industries, construction, petroleum industry etc...) A series of some one hundred technical lectures116 words
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INTERNATIONAL COMPANY NEWS
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Article145 1977-03-17 5 UPI TOKYO, Wed Unitika said yesterday it may not pay a dividend for the current business year ending March 31 because of a protracted textile market slump. A company official said a formal decision on non'payment of dividend to unitika stockholders will be made in AprilUPI - 145 words
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149 1977-03-17 5 Reuter MANILA, Wed. PhlllpElne Sinter Corp's new plant 1 the Southern Philippine province of Mlsamls Oriental designed to produce five million tonnes of sintered iron ore for steel making annually, Is due to start operation next month and to begin shipping to JapaneseReuter - 149 words
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Article106 1977-03-17 5 Reuter KYOTO. Wed. Omron Tatelshl Electronics said It is closing down Its whollyowned US subsidiary, Omron Corp of America, which has accumulated losses totalling US$27 million due mainly to poor sales of electronic calculators. A company said the losses of the subsidiary will be taken overReuter - 106 words
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Article51 1977-03-17 5 FRANKFURT, Wed. Terms for the French stateowned financing body Calsse Centrale de Cooperation Economlque 100 million mark 12-year Eurobond probably at seven per cent are expected to be finalised on March 22, lead manager Commerz-bank said. The Issue will be guaranteed by the French Government, It added In a51 words
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Article241 1977-03-17 5 LONDON, Wed. Grindlays Holdings Oroup has enJoyed a big turnround last year, with pre-tax profit of £30.15 million compared with a loss of £8.1 million last time. With the turnround, it has resumed dividend payment, with a total payout of 10 per cent for the year. This Includes241 words
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Article50 1977-03-17 5 SAN FRANCISCO, Wed. BankAmerlca Corp, ln a more detailed disclosure of its loan business ln Its annual report, said net loan charge-offs ln 1976 amounted to U*****.2 million. BankAmerlca said largest charge-offs were $33.1 million from loans to Individuals and also $33.1 million from commercial and industrial loans.50 words
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160 1977-03-17 5 Reuter NEW YORK, Wed. Borden expects first quarter earnings to rise more than 10 per cent from the US$lB.B million or 74 cents a share In the year ago quarter, the chairman, Mr. Augustine R. Marusl, told a news conference. Full extent ofReuter - 160 words
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Article139 1977-03-17 5 Reuter LONDON, Wed. Trust Houses Forte chairman Lord Thornycroft said ln the annual report that current year trading has started well. The steady Increase ln tourists to the UK, especially to London, has helped the company and looks like continuing to do so, he said.Reuter - 139 words
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Article101 1977-03-17 5 Reuter MELBOURNE, Wed. Woodslde-Burmah Oil said further funds needed to carry on full participation In exploration and feasibility studies on Australia's Northwest Shelf will be sought as equity capital. In a letter to the Melbourne Stock Exchange, the company said It noted the Exchange's query ofReuter - 101 words
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Article236 1977-03-17 5 SYDNEY, Wed. Acmll has acquired from Davis Consolidated Industries Its wholly-owned subsidiary Davis-Fuller Adhesives, the two companies said in a joint statement. Consideration is 1.22 million 25 Australian cent par shares In Acmll. The shares currently trade at around 60 cents. In addition to its Australian236 words
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308 1977-03-17 5 AP WASHINGTON, Wed. Top executives of five US companies that provide overseas telephone service complained to Congress yesterday that the Federal Communications Commission (FCC) creates difficulties for International service. They said FCC Involvement hampers negotiating agreements with foreign firms because the FCC sometimes demands theAP - 308 words
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Article199 1977-03-17 5 LONDON, Wed. The chairman of Rank Organisation Sir John Davles said the second half Improvement in profit trends have continued into the current year and the company is ahead of budget after the first 10 weeks. He told the annual meeting that since the beginning of199 words
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Article53 1977-03-17 5 LONDON, Wed. FMC said it rejects the offer announced on Monday by Thomas Borthwlck and Sons for Its Issued share capital. FMC said it considers the share exchange offer, which Borthwlck said values each FMC ordinary share at 104p, commercially and financially unacceptable and It will recommend shareholders to53 words
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Article225 1977-03-17 5 Reuter ROTTERDAM, Wed. Net profit at Rotterdamsch Belegglngs consortium (Robeco) rose to 181 million guilders from 170 million guilders last year on Income from divided, Interest property and other sources of 190 million guilders (179 million guilders). Cash rose to 7.5 per cent of net assetsReuter - 225 words
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Article168 1977-03-17 5 Reuter SYDNEY, Wed. Audited consolidated operating profit at Comeng Holdings rose to A 54.27 million from $3.05 million In the first half-year ended Dec 31. 1976. Revenue Increased to $65.93 million from $51.73 million last time. Profit Is before extraordinary gain of $359,000 (loss $411,000) andReuter - 168 words
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Article65 1977-03-17 5 TOKYO, Wed. Mitsui Petrochemical Industries announced It will Issue a US$25 million, seven-year Eurobond by the end of this month through an underwriting group led by Nomura Securities (Europe). The announcement follows prior consent given by the Japanese Finance Ministry, Mitsui said. Coupon rate Is still to be65 words
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Article65 1977-03-17 5 PARIS, Wed. Ste Francalse des Petroles BP has suffered a further net loss o* one minion francs last year. However, this is a vast Improvement from Its performance In 1975 when It Incurred a huge loss of 133 million francs. Operating loss was 10 million francs compared with 12065 words
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Article1154 1977-03-17 5 Thomas Mullaney - AMERICAN ECONOMY By Thomas Mullaney NYT IN his roles as the chief executive of the giant holding company that controls about 80 per cent of the natlon's telephones, as a director of four other prominent corporations and as a top officer of three prestigious tradeNYT - 1,154 words
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Article111 1977-03-17 5 DETROIT. Wed. Ford Motor Is studying the feasibility of providing additional assembly capacity for Its Ford Australia unit but no decision has been reached, Sir Brian Inglls, managing director of Ford. Australia, said In a statement, which was released by Ford Motor In Detroit. Sir Brian111 words
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Article116 1977-03-17 5 Reuter TOKYO, Wed. The Tokyo Stock Exchange said the outstanding balance of buying In margin trading on the Tokyo. Osaka and Nagoya stock exchanges fell to 841.5 billion yen on March 12 from 854.1 billion a week earlier. This was the seventh consecutive weekly decline fromReuter - 116 words
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Article70 1977-03-17 5 ROCHESTER, NY, Wed. Eastman Kodak said It expects 1977 capital spending to be about US$537 million. against $497 million In 1976 Its annual report, the company said research and development spending last year was $336 million. Kodak did not forecast 1977 research spending. While costs associated with major70 words
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Article30 1977-03-17 5 LONDON. Wed The Bank Handlowy Warszawle four million Kuwaiti dinar nine per cent note Issue will be priced at 99 per cent, Loeb, Rhoades said as issue lead manager.30 words
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431 1977-03-17 5 STOCKHOLM. Wed Stora Kopparberg, the Swedish steel and forest product conglomerate, shows a loss of Kr. 150 million, on Its 1976 operations, prolonging the profits plunge which started last year, when comparable earnings were Kr. 60 million against Kr.411 million for 1974. The board proposes431 words
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Briefly
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Article75 1977-03-17 5 LONDON, Wed Hoover chairman. Mr. P.C. Boon, said total overseas business should show further Improvement In 1977. Although sterling devaluation has Increased costs It has also Improved the company's competitive position overseas, he said In the annual report. In 1976 Hoover s UK exports totalled £35 million75 words
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Article27 1977-03-17 5 FRANKFURT. Wed. The 100 million mark 8-1/2 per cent maximum 10-year Eurobond for Banco Nacional do Desenvolvlmento Economlco was priced at par, lead manager Commerzbank said.27 words
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Article92 1977-03-17 5 BARTLESVILLE, Okla, Wed. Phillips Petroleum said Its directors authorised a new major uranium mining operation at Its leaseholdlngs near Albuquerque. New Mexico. Production from the mine, which is expected to begin In the early 1980's, Is estimated to average around 2,950 tonnes a day of ore. Phillips said. Ultimate92 words
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Article63 1977-03-17 5 LONDON, Wed The US$3OO million Eurocurrency credit for Mexican oil concern, Petroleos Mexlcanos. was substantially oversubscribed apparently because of confidence created among banks by the recent upratlng of Mexican oil reserves. London bankers said. The credit will probably be raised to around $350 million when credit managers take a63 words
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Article59 1977-03-17 5 TOKYO, Wed. Hitachi said It signed an agreement for RCA Corp to undertake world-wide distribution of a new TV camera tube, dubbed Satlcon, Jointly developed by Hitachi and NHK, the Japanese national broadcasting corporation. Hitachi and RCA are also studying the feasibility of RCA manufacturing the Satlcon tubes in-the59 words
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Article61 1977-03-17 5 TORONTO. Wed. Noranda Mines said It expects some Improvement In earnings In 1977, but the rate of return Is likely to be unsatisfactory In Its annual report It said 1976 earnings of Cs46 7 million were totally Inadequate. It had 1975 net of $50.5 million. Noranda said It appears61 words
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Article30 1977-03-17 5 NEW YORK. Wed. Citicorp has raised its quarterly dividend to 261/2 US cents per share from 24 cents, payable on May 2 to shareholders on record on March 31.30 words
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Article45 1977-03-17 5 LONDON. Wed. Singer International Securities plans to raise US$5O million through a five-year Eurobond with an expected coupon. Goldman Sachs said as lead manager. Proceeds vflll refinance the outstanding $50 million of 11 per cent three-year notes and pricing is expected on March 22.45 words
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Article30 1977-03-17 5 MILAN. Wed. Pirelli has reported net profit of 1.5 billion lire for 1976, down from 1.8 billion lire in 1975. The company is maintaining the dividend at 110 lire.30 words
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Page 5 Advertisements
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Advertisement163 1977-03-17 5 The international bank with your interests at heart. Dai-lchi Kangyo Bank is Japan's largest bank. With assets of about 39 billion dollars. But our size doesn't make us impersonal. A worldwide staff of financial experts ready to give your project their individual attention. And we have your interests at heart.163 words
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Article2144 1977-03-17 6 irtt/n Hi«h Low Compaay Lut Sale +orOr'* dlv Di* c'vr Gr'» yld Net P/E Vol ('000) Day High Low SECTION ONE INDUSTRIALS 175* 133 200 100 237 184 201* 204 248 480 133 127 172 60 185 66 127* 149 172 378 Ac ma Acma A Alcorn2,144 words
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Article1070 1977-03-17 6 BID and offer prices officially luted and buslnesa 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 word "Set" Big Board deals1,070 words
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Article1343 1977-03-17 6 BID and offer prices officially listed and business In and reported to the Kuala Lurrpur Stock Exchange yesterday with number of shares traded shown in brackets in lots of 1,000 units unless otherwise specified INDUSTRIALS Acma (1 448) A. Tap* (0 SOB 0 51B) Ajin*m«t* (2 028)1,343 words
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Article149 1977-03-17 6 STRIKING price# of the atock option* officially lifted on the Stock Exchange of Singapore, the period*, bid and offer price* and buaineaa done yoaterday, with the number of option* traded ahown in bracket*. D.8.8. (Jane $3.90) (0.12'i8 0.138) (1) 0.18, (3) 0.15, (8) 9.14, (3) 0.13'*, 0.13. Inchcape149 words
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Article153 1977-03-17 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Mtnifen' price* for Mar 17) (Current pric Ml The Commerce 1.77 1.87 INCOME BOND 1.10 1.18 The 8a ring Fund 0 90 0 95xd S'pore Prof Fund 0 80 0.85 MARA BUMIPUTRA FUND Sjx>re Security Fund 142 1.50 (Managers' prices for Mar153 words
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Article147 1977-03-17 6 B O T 8 1/2% 1981 (100.000) (1038 103*43) D B S 8 1/2% 1982 (100.000) 101S) DBS Converts 6 1/2% 1991 (100.000) (96*8 97VaS) E I B 9% 1982 (100.000) (103HB 104 HS) E I B 8 1/2% 1983 (100.000) (99%8 100HS) I B J 8 1/2%147 words
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Article112 1977-03-17 6 5 1/2% 1/12/77 (1,000,000) (101.508 101.655) 5 1/2% 15/4/78 (1,000,000) (101.578 101.735) 5 1/4% 15/7/78 (1,000,000) (101 528 101 59S >(3)101.59 6 1/2% 15/8/78 (1,000,000) (103.208 103.335) 7% 1/7/79 (1,000,000) (104.858 105.008) 5 1/2% 1/10/77-79 (1,000,000) (101.558 101 65SK 1)101 60(1)101.85 5 1/4% 15/10/79 (1,000,000) (101 088112 words
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Page 6 Advertisements
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Advertisement219 1977-03-17 6 mm. -•••i v"'-< s .< gBlW> r -J- ,-> *r# r- V *^mk *4 JiS IS: 'x am&S&Ti f r 1 Alex Josey has long been an observer, recorder and commentator of the Singapore scene. In this new book, he examines and explains the success of Singapore's tripartite alliance of219 words
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Article592 1977-03-17 7 TRADING conditions remained generally light and the overall tendency was easier at the Stock Exchange of Singapore yeeterof speculators and the bigger institutions, including some of the banks and insurance companies, continued to have an adverse influence on market sentiment. Some strength noted in the Wall592 words
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Article425 1977-03-17 7 SELLERS continued to dominate trading at the Kuala Lumpur stock market yesterday. However, there was no evidence of any heavy selling pressure as reflected In the low volume of business. Most of the selling yesterday was confined to the score of speculative issues, Including most425 words
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Article90 1977-03-17 7 LONDON, Wed. Genossenschaftlice Zentralbankaktlengesellschaft will Issue US$4O million of sixyear floating rate notes on the Eurodollar bond market through an International syndicate led by S.O. Warburg, Credit Suisse White Weld, Kidder Peabody International, Berliner Handels und Frankfurther Bank, London and Continental Bankers and Manufacturers Hanover, Warburg said. Interest90 words
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WALL STREET AND OTHER OVERSEAS MARKETS
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Article1088 1977-03-17 7 NEW YORK: Bargainhunters moved In on glamour Issues on Tuesday, helping the stock market to run up another sharp gain. Advances on the New York Stock exchange led declines about two-to-one, as approximately 24 million shares changed hands. Additional support came from the sidelines where investors had been1,088 words
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Article317 1977-03-17 7 TORONTO: The composite and metals Indices hit six-month highs as the Toronto market close broadly higher for the second consecutive session on Tuesday. Trading was active. Papers moved sharply higher on high volumes, Abltlbl gaining W to lift, Consolidated Bathurat A W to 28V Price H to 11, and317 words
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Article332 1977-03-17 7 AMSTERDAM: Shares were led higher by Royal Dutch and Unilever In Dutch International and the General and Industrial stock Indices rose to new highs for the year, dealers said. Sentiment was aided by an overnight firm Wall Street, dealers said. Leaders to rise elsewhere were Bob, KLM, major banks.332 words
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Article299 1977-03-17 7 ZURICH: The market firmed slightly in moderate trading, bolstered by the rally on Wall Street, dealers said on Tusday. The possible reduction of the amount undersubscrlbed of the new 200 million franc World Bank loan contributed to the better sentiment, they said. Banks and flnanclals posted generally small gains299 words
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Article441 1977-03-17 7 SYDNEY: Share prices were generally firmer on renewed buying interest, dealers said on Wednesday The Sydney All-Ordlnarles Index was 2.50 points higher at 431.87. Market leader BHP gained 14 cents to $6.58 while Utah and Central Norseman added five cents each. CRA, MIM, Hamereley, QLD Mines, WMC and Ampol441 words
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Article324 1977-03-17 7 FRANKFURT: Shares firmed across the board on Institutional buying and domestic and foreign Investor demand, market sources said on Tuesday. In higher chemicals, Schering gained 850 marks In electrlcals Siemens rose four and Varta 380 Veba closed slightly lower. Engineerings and cars were led by Daimler up to 3.50324 words
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Article350 1977-03-17 7 PARIS: The market closed generally firmer on Tuesday in subdued trading following Monday's fall, dealers said. French and foreign oils, stores, electrlcals and chemicals were higher Engineerings and steels were Irregular to weaker Foreign shares were generally higher with US, German and copper shares firm. Golds were easier. MAR350 words
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Article198 1977-03-17 7 MILAN: Stocks fell to new lows in thin dealings, reflecting concern about current Italian poll- tlcal and economic uncertainty, bourse sources said on Tuesday. Montaflbre ordinary shares feU sharply, following announcement of 1976 losses and capital writedown plans. C—wale Immobiliare also showed losses, wiping out recent gains. Unidal eased198 words
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Article395 1977-03-17 7 JOHANNESBURG: Gold shares tended off the bottom toward the close In line with the London morning fix, although trade remained thin ana prices depressed on balance, dealers said on Tuesday Financial minings were lower, with Genmin dropping 50 cents to 2,600 and Amfold 75 to 2.675 De Beer* rose395 words
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Article457 1977-03-17 7 TOKYO: Share prices closed slightly higher after opening firm as Investors held off towards the close waiting to see the outcome of the Japan—US summit talks in Washington early next week, dealers said on Wednesday. The Dow Jones average gained 1.55 to close at 4,998.61 with volume 180 million457 words
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Article153 1977-03-17 7 BRUSSELS: The market was mixed with a lower bias In quiet trading, dealers said on Tuesday. Softna, Ekectrobel and Gevaert rose while Sidro, Ebea, Hoboken, Cockerill, Clabeoq and Momdc fell UK, Oerman and US stocks rose, while Dutch and French Issues were firm Sony continued firm Gold mines were153 words
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Article388 1977-03-17 7 HONOKONO: The market closed little changed In very quiet trading on absence of Interest, dealers said on Wednesday. The Hang Seng Index rose 0.71 points to 419 97. Among blue chips Hutchison fell 2.5 cents to 3.15, Swire Pacific five to 8.35 and Wheelock Marden 2 5 to 2.475388 words
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Article85 1977-03-17 7 MAR It Bahts Asia Fibre Bangkok Bank 245 unch Bangkok Invest 159 unch Bangkok-Metro-politan Bank Bata 38&S Berll Jucker 176 1 Charoong Thai Wire 144 ♦2 Dumex Duslt Thanl Faber Merlin First Trust Indo-Thal J And J Ho Jalaprathan Cement 86 -3 Karnasuta JI Lee Kwang Mln Metal Box85 words
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Article188 1977-03-17 7 MANILA: The market reached slightly to the rise In copper and gold prices, with mining and oil sectors edging higher but commercials dull, dealers said on Wednesday Volume continued light, but was higher, amounting to 2.87 million pesos compared with Tuesday's 1.92 million. Gainers were Bafuio Gold, LEPANTO B.188 words
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Article71 1977-03-17 7 FINANCIAL TIMES INDUSTRIAL Tuesday 427.9 Monday 428.8 Week ago 404.2 DOW JONES AVERAGE INDUSTRIALS Tuesday 9«5 09 Monday 958 3<J Week ago 952 .04 LONDON DOLLAR PREMIUM Tuesday 112 to 112* Monday 113* to 113* H.K. HANG SENG Tuesday 418 2 t Monday 415 45 Week ago 418 M71 words
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Page 7 Advertisements
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Advertisement176 1977-03-17 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who176 words
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COMMODITY REPORTS AND PRICES
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Article771 1977-03-17 8 IN the Singapore rubber market yesterday, opening quotations were marked down by 0.75 cent In line with overseas advices and later prices fell a further half cent on stale bull liquidation with April RSS One traded at a low of 204.50 cents, dealers said. However,771 words
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Article30 1977-03-17 8 Rubber: Mar 16 Singapore: April 206.00 eta (up 0.25 ct.) Malaysia: April 209.25 eta (up 0.50 ct) Tin: $1,632 (up 115.00) Official offering: 240 tonnes (down 10 tonnes)30 words
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Article316 1977-03-17 8 IN the Singapore gold market yesterday the kilobar changed hands In the range of SSI 1,725 to S$ 11,760. Volume was thin and hard to find. The loco London gold opened at U*****.30/ 147.80 following the turn around In the US gold futures market on Tuesday night, and thereafter316 words
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Article104 1977-03-17 8 April May R.A.S. (Cui rrenl Mth) (For ward Mth) Buyer* Seller* Buyer* Seller* (en it* perk*) (ceau perks) SSR20 (1-ton Pallet) 195 SO 197 50N 197.00 199.OON SSR50 (1-ton Pallet) 193 00 195 OON 194.50 198 SON M.R.E.L.B. SMR5CV (1-ton Pallet) 224 00 228 00N 227 00104 words
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Article208 1977-03-17 8 THE Straits tin price In Penang yesterday was up $15.00 to $1,632.00 on an official offering down 10 tonnes to 240 tonnes. In LONDON yesterday, tin finished with losses of £20 per tonne for Cash and around £32 for Three Months in both contracts. Early pre-market firmness which208 words
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Article128 1977-03-17 8 THE following Palm Oil prices were quoted In London on Tuesday The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Tuewlay Pre*. Malaysia 5% t(a bulk 595 sir 590 sir May /June Sumatra 5% 600 sir Mch 613 50 pd Apl128 words
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Article257 1977-03-17 8 LONDON, Wed. Copper wlrebars finished the morning with losses of £2 for Cash and £1.50 for Three Months. A firmer trend emerged on the pre-market where some nervous covering took Three Months upto £920 per tonne. This followed a steady New York tone and latest news from Zaire, dealers257 words
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Article100 1977-03-17 8 LONDON, Wed. Lead eased by £4 for Cash and £3.25 for Three Months In the morning. A burst of fresh buying and chart operations forced the pre-market sharply higher with Three Months trading upto £450 per tonne following the Commodities Research Unit (CRU) report of a continuing lfead shortage.100 words
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Article57 1977-03-17 8 LONDON, Wed. Zinc fell by £8.75 for Cash and £8 for Three Months in the morning. Early firmness was seen with pre-market business up to £453 per tonne but the subsequent downturn In lead and other base metals brought out liquidation and hedge selling which pushed Three Months down57 words
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Article58 1977-03-17 8 THE Malaysian Minister of Finance has fixed these rates for the period from March 17 until further notice: Rubber cents a lb Copra $970.00 a ton Palm kernel $235.25 a ton The rate of duties payable are: Rubber 11% (Surcharge 5% cts. a lb) (Total 17* cts.) Copra58 words
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Article286 1977-03-17 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil Bulk *105 sellers, old drum 1110 sellers, new drum $115 sellers Copra Mixed (loose) UK/Cont *68 buyers. Pepper Muntok ASTA white f o b. 100% NLW sellers, Sarawak white fob #8% NLW *367S seUers. Sarawak special286 words
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Article387 1977-03-17 8 LONDON, Wed. Robusta futures closed the opening call slightly easier, £10 higher to £37 lower on Tuesday night's close. Prices were down from Initial highs as spill over commission house and local dealer buying prompted by the large New York left over buying pool dried up. May closed £10387 words
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Article117 1977-03-17 8 CHICAGO, Tues. Soybean futures closed with gains of 3Vi to 9tt cents a bushel. Last week's export Inspections stimulated speculative buying which brought early gains but upward momentum was lost. Lack of strength In meal futures and commercial selling encouraged liquidation and speculative selling which created losses In nearbys.117 words
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Article123 1977-03-17 8 CHICAGO, Tues. Wheat futures posted losses of IV4 to V* cent a bushel at the close. Prices eased under speculative selling pressure which followed crop reports indicating some Improvement in winter wheat conditions beacuse of recent precipitation In the central US and the continued low level of exports. Short-covering,123 words
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MONEY AND EXCHANGES
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Article515 1977-03-17 8 THE domestic money market In Singapore yesterday provided no spectacular rate movements. Dealers said that overnight trading started at the four per cent level and moved upward v» per cent by mid-morning following covering operations by borrower banks. The rate hit a high of six per cent at one515 words
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Article160 1977-03-17 8 Asian rates Asian currency deposit interbank rates as at cloae on March 16 US Dollar <8p*> Offer Bid 7 days 4 13/16 4 11/16 1 mth 4 9/16 2 mths 4 15/16 4 13/16 3 mths 5 1/8 5 Smths 5 3/8 Smths S 13/16 5 11/16 12 mths 15/16160 words
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Article50 1977-03-17 8 RANGE of price* offered by ducount houses on March 16 Overnight 1 to 3H Call deposit 3S ClMte Buy 's*!Uo( 3-month 2% Treasury bills S 3-Month 3 15/16 Bank bills 4 1/16 3-Month CD 4 5/16 4 V16 6-Month CD 4 1/2 4 3/8 Source: National Discount Co. Ltd.50 words
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Article155 1977-03-17 8 Euro rates LONDON, Wed. Period Eurodollar deposit rates opened easier up to Six Months reflecting the Friday dealing technicality, while longer positions and shortdates were unchanged, dealers said. Initial technical losses ranged from 1/4 in One Month to 1/10 In Six Months. Early modest trading was mainly confined to snortdates155 words
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Article39 1977-03-17 8 THE Monetary Authority of Singapore (MAS) invites banks and discount houses to tender for: $20 million 91-day Treasury Bills to be Issued from March 21 to March 25. Each tender must not be less than $250,000.39 words
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Article336 1977-03-17 8 LONDON, Wed. The dollar opened firm In Europe, help*! by overnight demand In the Far East following a larger than anticipated rise in US February industrial production, dealers said. It advanced to 2.3965 75 marks from last night's London close of 2.3940 50, and to 2.5605 15 Swiss francs336 words
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Article216 1977-03-17 8 NEW YORK, Wed. The dollar closed slightly stronger after a quiet trading session marked by Central Bank intervention in Europe to support the lira and check a rtse In sterling, dealers said. News that US industrial production rose an unexpectedly large one per cent In February came after216 words
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Article107 1977-03-17 8 TOKYO, Wed. The US dollar for overnight delivery closed higher at 281.95 yen compared with 281.70 at the opening and 281.55 at yesterday's close, mainly on covering for Import settlements remittances, dealers said. But banks hesitated to move speculatively either way pending the Japan-US summit talks early next week,107 words
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Article136 1977-03-17 8 HONGKONG, Wed. The US dollar firmed against the mark and Swiss franc in fairly quiet trading on news the US Industrial production Index rose one per cent in February, dealers said. The US currency was quoted at 2,3965/75 marks in late trading compared with 2,3941 mid-point equivalent at the136 words
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Article55 1977-03-17 8 Minimum lending rates (in ACBC Algemene Bank Bangkok Bank .7 Bank of America 0* Bank of China .7 Bank of Tokyo 6*. Bank Negara Indonesia 7 Chartered Bank Chase Manhattan 0fc DBS 6W First Chicago 6*» Citibank 6*i HSBC 7 Indosuez 6* Malayan Banking 6*> Mitsui Bank 0*. OCBC OUB55 words
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Article47 1977-03-17 8 AUSTRALIA/NZ exchanges quoted on March 16 Australia: Sterling 0.6423/0.6354 US dollars 1.1008/1.0960 Ninety-day air mail buying rates: Sterling 0.6660 US dollars 1.1258 Ninety-day forward buying rates: Sterling 0.6475 US dollars 1.0918 New Zealand: Sterling 0.5574/0.5544 US dollars 0.9631/0.9531 Ninety-day forward rate: Sterling 0.5874 US dollars 0.981747 words
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Article59 1977-03-17 8 ZURICH exchanges closing quotes on March 15 US 2.5590 5598 UK 4.3980 4000 Can 2.4290 4300 W Germ 106.78 84 Neth 102.28 35 France 51.28 31 Belg 6.95 V* 96* Denm 43.56 58 Norw 48.65 67 Swed 60.58 61 Italy 0.2881 2885 Austria 15.04 05 Port 6 58 9859 words
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Article34 1977-03-17 8 FRANKFURT exchanges opening quotes on March 16 US 2.3970/85 2 3940/45) Can 2.2678/98 UK 4.120/135 Neth 95.82/95 Swltz 93.50/65 Italy 2.700/71 France 48.00/15 Norw 45.50/58 Belg com 6.515/530 Belg fin 6.50/52 Japan 0.8505/1534 words
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Article310 1977-03-17 8 LONDON Eurobond prices on March 16 Straight* Bid Offer Austria 8*. 90 100* 101* Bel! Canada 8*. 86 104 V, 105 V, BFCE8*83 102*. Brazil 9*. 84 97* Can Pacific 9 83 102'-» H9 Credit National 8'. 86 99 100 ECSC9 83 103 V. 104* EEC 81* 82310 words
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Article248 1977-03-17 8 LONDON, Wed. Silver showed gains ranging of two to 1.5 pence per troy ounce in the morning. Firmness was seeii In the re-market where Three lonths traded upto 204 Bjnce following gains In ew York. But the market became unsettled by the late downturn in tin, lead and zinc,248 words
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Article225 1977-03-17 8 LONDON, Wed. Sugar futures opened barely steady after initial higher levels In line with last nights late Kerb had attracted fresh selling Interest. At the end of the opening call values were £1.15 to £0.90 higher after at one stage gaining upto £1.60. Sales were 275 lots. Dealers said225 words
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Article230 1977-03-17 8 BANGKOK. Wed. Indicative prices quoted for rice were: US dollars per tonne fob basts Bangkok White Rice 100 per cent Ist class 292 100 per cent 2nd class 277 100 per cent 3rd class 272 5 per cent 262 10 per cent 242 15 per cent 239 20 per230 words
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Page 8 Advertisements
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Advertisement162 1977-03-17 8 TOP EXECUTIVE SUCCESS how to achieve it too&v .how to hold it...TODAY... ...is for YOU the i younger executive This forceful, fast-reading new Guide exposes the dynamic strategies seldom openly discussed and almost unknown to the younger man who needs them most. Now you can learn: how to create and162 words
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TRANSPORT and COMMUNICATIONS
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Article, Illustration901 1977-03-17 9 ROBERT LINDSEY - By ROBERT LINDSEY NYT LOOKING down on the urban sprawl of southern California, air travellers arriving and taking off at Los Angeles international airport see a swath of open space, laid bare as If by a giant lawn mower. Not long ago, stores,NYT - 901 words
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1021 1977-03-17 9 REGINALD STUART - By REGINALD STUART NYT SMALL wonder that the General Motors Corp. Is putting Chevrolet engines In Oldsmoblles. It installed Oldsmoblle engines in Cadillac's luxury midsized Seville. The fact that the distinctive auto lines of General Motors share power plants may come as aNYT - 1,021 words
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Article, Illustration430 1977-03-17 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES •Botany Trader (P/O) (Tanker) (1500 after Shoko Maru) (Subject gas free) 16 Gudrun Bakke (1) (1400 after Bristol Maru) 13/14 Gudrun Bakke (11) (1830 shifts) (Agent's request) on completion of bulk tallow 1/2 Hong Soon (0700 22 Hosho Maru (JKIS) 2200 after Kawachl430 words
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Article155 1977-03-17 9 AP LONDON, Wed. Very slow conditions returned to all sectors of the London freight market yesterday and rates showed little change from previous levels. North Atlantic grain was represented by Just one fixture. The bulk-oil carrier "Point Clear" repeated US$4.9O (F10) for a 72,000ton April 1-15 shipmentAP - 155 words
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Article589 1977-03-17 9 ARRIVALS Sorvioo Operator Number Tim From CPA CX003 0145 HKO MAS MH682 0810 KCH SIA SQ211 1010 HLP CPA CX710 1030 HLP OIA GA980 1030 HLP OIA OA908 1100 MES PAL PR501 1115 MNL RBA BI325 0855 BWN SIA SQ201 1200 HLP SIA SQ240 1205 MES OIA589 words
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Article165 1977-03-17 9 Reuter LONDON, Wed. The Lockheed Aircraft Corporation yesterday announced two new aircraft models based on the L-1011 Trlstar family. Mr. Chuck de Bedts a vice president of the LockheedCalifornia Company which is responsible for the Trlstar, told a press conference the new models Included: The 600Reuter - 165 words
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Article62 1977-03-17 9 LONDON, Wed. The UK Government's Bill to nationalise the shipbuilding and aircraft Industries has been given final Parliamentary approval and will be sent for Royal Assent on tomorrow, an Industry Department spokesman told Reuters. Once Royal Assent Is given, the Bill will become an Act of Parliament. Negotiations62 words
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Page 9 Advertisements
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Advertisement51 1977-03-17 9 WfAiiUMßmNikW ••V *x •:.A mmm* Peter Benchley v 'Better than JAWS, ever escalating shocks' -TIME 'Cracking entertainment' DAJLY TELEfiRAPH 'For the second time -the book you can't put down' -DAILY MAIL Now on Sale at your regular bookshop Distributed by: TIMES DISTRIBUTORS SDN. BHD. Times House, River Valley Road, Singapore51 words
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607 1977-03-17 10 LOW LEE CHOO - By LOW LEE CHOO MALAYSIA has great Rotential for producing igh-fructose syrups from its tapioca and sago starch to complement Its sugar requirements In view of the high prices Malaysia Is paying for Its Imported raw sugar. In an Interview with Business Times,607 words
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Article, Illustration2443 1977-03-17 10 DAVID CHOW - Firms feel there is lack of understanding among government officials Br DAVID CHOW PLASTICS companies In Malaysia, barely recovering from the effects of the recession In 1974 and 1975, will ask the Government to set up a joint consultative committee to help In the2,443 words
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1275 1977-03-17 10 MEL TSUJI - Tokyo a rich city in the midst of poverty Mr. MEL TSUJI Depth News TOKUE SHIBATA lowers his head, clasps his hands, ponder the question in his tortured characteristic way, finally comes up with arms held high in resignation and simply: "Tokyo Is It was a startllngly frank answer forDepth News - 1,275 words
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630 1977-03-17 10 DAVID BELL - By DAVID BELL Financial Times News THE Carter Administration is going to have to decide within the next few weeks what it wants to do with proposals unveiled before the presidential election, which called for the rebuilding of theFinancial Times News - 630 words
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Advertisement190 1977-03-17 10 MONTHLY ECONOMIC REPORTS With monthly politicol supplement for UP-TO-DATE HANDY REFERENCE ASM RESEARCH BULLETIN This unique publication offers businessmen each month a comprehensive guide to the latest developments that have taken ploce in all important sectors of the economies of countries in East and Southeast Asia. The Bulletin is divided190 words
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164 1977-03-17 11 AP JAKARTA, Wed. Information Minister Mashurl said yesterday that Indonesia was being threatened by overseas subversives by means of discrediting and isolating the country from the world society. Mr. Mashurl told reporters, following a cabinet meeting presided by President Suharto, that according toAP - 164 words
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Article145 1977-03-17 11 AP HONGKONG, Wed. Many cities and villages In east and south China are experiencing extreme food shortages because of sabotage by the "Gang of Four." a Hongkong newspaper reported today. The Independent Ming Pao, quoting recent arrivals from China, said the worst hit areaAP - 145 words
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Article144 1977-03-17 11 IN THE new academic year commencing July 4 the University of Singapore will offer, for the first time economics as a principal subject to students in the Faculty of Science. This means that science students will be able to offer economics up to honours degree level.144 words
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Article84 1977-03-17 11 UPI TOKYO. Wed. Sugar prices have risen sharply on the Tokyo commodities exchange, in the wake of the decision by the American and Canadian Overnments to ban the use of saccharin. Refined sugar for March delivery closed at 203.2 yen (551.75) per kilogram In tradingUPI - 84 words
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Article382 1977-03-17 11 Reuter UPI NEW DELHI, Wed. Voting began quietly today across most of India In a general elections In which the ruling Congress Party Is facing its most formidable challenge In 30 years. There were no Immediate reports of any Incidents. The national news agency SamacharReuter; UPI - 382 words
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Article334 1977-03-17 11 Reuter WASHINGTON, Wed. The Carter Administration has begun informal negotiations with China on bringing about normal relations between Washington and Peking, Assistant Secretary of State-De-slgnate Richard Holbrooke said yesterday. Mr. Holbrooke, appointed by President Carter to be Assistant Secretary of State for East AsianReuter - 334 words
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386 1977-03-17 11 UPI HONGKONG, Wed. One of China's top military commanders may have been slain when he failed to follow Peking's orders to put down armed supporters of the "Gang of Four" in the Shanghai-Nanking area when the four were purged last October. Travellers from China, quotingUPI - 386 words
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Article202 1977-03-17 11 AP BANGKOK, Wed. Population growth more than ate up the 2.4 per cent annual growth rate of agriculture and food production in Asia and the Pacific region between 1964 and 1974, the United Nations said today. The UN Economic and Social Commission for AsiaAP - 202 words
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Article111 1977-03-17 11 Reuter NEW YORK, Wed. The Australian dollar's present exchange rate should hold for some time although It Is still vulnerable to the pressures which could be created by a reversal In present trade and capital trends, Citibank N.A. said in its "Economic Week." The 17.5 per centReuter - 111 words
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292 1977-03-17 11 COURVOISIER'S marketing strategy for the year, according to Its cellar master, Mr. Jean-Loupßoy, is to reinforce Its image of quality In markets In which it is already established, and to introduce its products to new markets like West Asia. Mr. Jean-Loup is in Singapore292 words
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Article137 1977-03-17 11 A SEMINAR on the promotion and sale of Asean books In the US will be held in conjunction with the second Festival of American Books at the US Trade Centre from March 24 to 27. It will be conducted by Mr. Charles E. Tuttle, the137 words
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Article82 1977-03-17 11 OVER SI.B million worth of new construction equipment will be demonstrated to the trade on Saturday. United Motor Works (S) Pte Ltd Is staging this display at Its Jurong complex to demonstrate some of the latest construction equipment available in this region. Among the items which82 words
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193 1977-03-17 11 AP TOKYO, Wed Reinforced concrete boats and ships with a "combined loading capacity of 3.2 million tonnes" are cruising China's Inland rivers and coastal waters, Peking's official Hslnhua news agency reported yesterday. Hslnhua said since cement boats were introduced in 1058, the industryAP - 193 words
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141 1977-03-17 11 Reuter MANILA. Wed. The Philippine Government may have to continue defending the peso through compensatory borrowings from the International Monetary Fund (IMF) and other foreign sources this year because of expected deficits In trade and payments balances, the Private Development Coro ofReuter - 141 words
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Article140 1977-03-17 11 Reuter TOKYO, Wed. The largest faction within Japan's ruling Liberal Democratic Party (LDP) disbanded Itself today as part of moves to rejuvenate the party before the vital Upper House elections expected In July. The faction was formerly led by ex-Prime Minister Kakuel Tanaka, now on trialReuter - 140 words
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Article99 1977-03-17 11 MORE than 4,000 full-time trainees of the Industrial Training Board are participating m the board's group personal accident Insurance scheme. Under this scheme, the trainees are insured for a capital sum of 910,000 each for an annual premium of #2. It provides for Insurance coverage99 words
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Article130 1977-03-17 11 THE National Productivity Board will be organising courses on Low Cost Automation Module n (on basic industrial pneumatics), Industrial Motors and LCA Module I (covering mechanisation of production processes). The first, on basic industrial pneumatics, is scheduled from April 11 to 25 and Is meant for engineers, technicians130 words
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Article, Illustration91 1977-03-17 11 FORMER Senate majority leader Mike Mansfield (top) disembarking on Tuesday at Clark Air Force base in the Philippines for an overnight iStopover en route to Vietnam. The presidential commission is headed by Mr. Leonard Woodcock, leader of the United Auto Workers' Union. The group hopes to receiveSource: UPI photo - 91 words
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348 1977-03-17 11 UPI CANBERRA, Wed. Foreign Minister Andrew Peacock, urged Western countries to pay more attention to the demands of the Third World or risk serious consequences. Mr Peacock left for Washington last Sunday for talks with senior officials and cabinet members. On the eve of hisUPI - 348 words
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135 1977-03-17 11 AP BANGKOK, Wed. Cambodian soldiers have destroyed some irrigation dams In eastern Thailand to turn the flow of water Into their territory, assistant border police commander MaJGen. Pravlt Vongvlset said today. Gen. Pravlt described the situation along the Thai-Cambodian border as "the most violent" comparedAP - 135 words
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Advertisement604 1977-03-17 11 APPOINTMENTS GENERAL ELECTRIC (U.S.*.) HOUSEWARES PTE. ETB. Applications are invited from suitably qualified candidates for the following vacancies PRODUCT ENGINEER A graduate engineer with a degree in Electrical or Mechanical Engineering. 2 years' minimum experience of product responsibility, preferably in mass-produced, electro-mechanical products. The successful candidate will be responsible for604 words
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293 1977-03-17 12 FUTURE trends and prospects for all aspects of world aviation will be discussed at the World Aerospace In 1977 conference In Paris, to be held on May 31 to June 1 this year. The conference, which will be held Immediately before the293 words
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Article49 1977-03-17 12 A FIRM of quantity surveyors In Singapore filed a writ In the High Court yesterday claiming over $1 million from a realty company. Wolferstan Trower and Partners, represented by Rodyk and Davidson, Is suing S.L. Properties for $1,112,675 which It alleges is due under an agreement.49 words
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1157 1977-03-17 12 KUALA LUMPUR, Wed. Enclk Mohamed Khlr Joharl, Malaysia's former Trade and Industry Minister, has lent his voice to appeals to the Government to do everything possible to remove the fears and apprehensions caused by the controversial Industrial Coordination Act. He said the Act In1,157 words
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Article734 1977-03-17 12 LONDON, Wed The market closed mixed. At 3 p.m., the Financial Times Index was down 0.8 at 427.1. News that British Leyland tool room strikers had agreed to return to work on certain conditions caused an Initial sharp rally among government bonds, but prices then eased on further734 words
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269 1977-03-17 12 THE setting up of an Asian Federation of Advertising Associations (AFAA)," which began with the formation of the AFAA organising committee in Sydney last November, is now gaining momentum. According to the latest Issue of Ad voice, a Singapore advertising Industry publication, the AFAA committee led269 words
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Article234 1977-03-17 12 A PLAN to Introduce total environmental support for computers through the flexible space system has been launched In Singapore. Through talks and slides, the concept of the flexible space system (FSS) was explained to computer experts, architects and engineers at a seminar at Shangri-La Hotel234 words
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Article105 1977-03-17 12 UPI TOKYO, Wed. Philippine President Ferdinand Marcos is expected to become the first foreign leader to be accorded state Suest treatment twice when e visits Japan next month, informed sources said today. The sources said Prime Minister Takeo Fukuda's cabinet will shortly decide to extend a formalUPI - 105 words
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102 1977-03-17 12 AP HONGKONG, Wed. Hongkong's Chinese Manufacturers' Association (CMA) will revive Its annual industrial fair in December, and may also show for the first time industrial products from Asean countries, an Association spokesman said today. The annual Hongkong Industrial fair was lastAP - 102 words
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Article58 1977-03-17 12 Reuter DACCA, Wed. Malaysian Finance Minister Tengku Razaleigh Hamzah arrived today on a three-day official visit. He said his country had specific proposals for strengthening economic and other co-operation with Bangladesh. During his stay Tengku Razaleigh will meet the Bangladesh Chief Martial Law Administrators, MajorGeneral Zlaur Rahman,Reuter - 58 words
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401 1977-03-17 12 THE first of the new ro-ro container vessels for a new shipping consortium, known as Anro, to serve trade between Australia, Singapore and Malaysia, beginning towards the end of this year, will be launched in Kobe, Japan, on April 28. This was announced today401 words
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288 1977-03-17 12 THE Government will draft the proposed amendments to the newspaper law in accordance with the policy guideline already spelt out and they will be presented to Parliament for debate. The Culture Minister, Mr. Jek Yeun Thong, told Parliament yesterday his Ministry288 words
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Article52 1977-03-17 12 THE HDB has set aside 100 hectares of land for small Industries, terrace factories for metal workshops, carpentry workshops and engineering workshops. This was revealed by the Minister of State for National Development, Dr. Tan Eng Liang, In reply to a question from the member for Ang52 words
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298 1977-03-17 12 THE total throughput of general and bulk cargo handled at the Port of Singapore Authority's six gateways last year increased 10.3 per cent over 1975's to 18.2 million tonnes. The volume of bulk cargo, however, dropped 13.0 per cent to 2.1 million tonnes,298 words
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Article243 1977-03-17 12 AP PARIS, Wed. Mr. JeanJacques Servan-Schrelber today sold a 45 per cent share of the publishing group that includes the news magazine L'Express to the French British Generate Occldentale conglomerate headed by Sir James Goldsmith. Sir James, who has dual French-British nationality, holds stock In theAP - 243 words
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Article140 1977-03-17 12 AP DETROIT, Wed. Paced by a record performance at General Motors, new car sales In the United States Jumped 19 per cent from year-ago figures to post a record for early March, The four major US car makers reported yesterday that sales during the nineAP - 140 words
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239 1977-03-17 12 Reuter JAKARTA, Wed. The Indonesian government will offer foreign oil companies a new contract for on-shore oil drilling on a new reduced basis of 50-50 production sharing, according to Mining Minister Mohammad Sadll. In effect, the new contract Is the same as the presentReuter - 239 words
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Article428 1977-03-17 12 AFTER two years of decline, US Interest rates pacesetter for International Interest rates have finally started to move up again. This Is the observation of Dr. Allen Slnal, visiting Professor of Economics at the Massachusetts Institute of Technology. In an article In the latest issue428 words
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Advertisement102 1977-03-17 12 Black /Magic has Two sides.. 'I i i /.'J a A. The Sharp PPC offers both Solid Black Printing on Both Sides of Ordinary Plain Paper The Sharp Plain Paper Copier gives you copy after copy, sharp and clear, with the m dense black finish of the original. No thin102 words
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