The Business Times, 18 March 1977

Microfilm: NL9063
Total Pages: 12
1 12 The Business Times
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  • Title Section
    Masthead
    10 1 BUSINESS TIMES M.C.(P) 300/1/77 FRIDAY, MARCH 18, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Yard wins $120m order
      64 1 SINGAPORE Shipbuilding and Engineering In Jurong has won a 9120 million contract to build 10 sophisticated ships for a West German shipping consortium. The ships, ordered by Reederel "Nord" Klaus E. Oldendorf f on behalf of the consortium, are of the 1,599-tonne container/cargo type. The vessels
      64 words
    • Article
      Lock icon New poll ordered
      69 1 Reuter NEW DELHI, Thurs. The Election Commission today ordered a partial re-poll In eight of the 300 constituencies in which voting took place yesterday after reports of serious disturbances, particularly in the north-eastern states of Bihar and West Bengal. The commission said a new poll would be
      Reuter  -  69 words
    • Article
      Lock icon Review editor replies
      80 1 Reuter HONGKONG, Thurs. The editor of the Far Eastern Economic Review has replied to Singapore Government allegations against him, including the charge that he disseminated his taped account of a private talk with Prime Minister Lee Kuan Yew. Mr. Derek Da vies in this week's edition dismissed
      Reuter  -  80 words
    • Article
      National Front meet
      72 1 KOTA KINABALU, Thurs. The National Front supreme council will be meeting in Kuala Lumpur on April 2 to discuss a proposal for a code of conduct for Its component panies. Malaysian Prime Minister and chairman of the National Front Datuk Hussein Onn, said today leaders of the
      72 words
    • Article
      Lock icon Beirut revenge killings
      31 1 Reuter BEIRUT, Thurs. At least 13 people have been killed In reprisals sparked by the assassination yesterday of Leftist leader Kamal Jumblatt, Informed sources said here today. Reuter
      Reuter  -  31 words
    • Article
      Lock icon Biggest mineral contract
      40 1 Reuter MANILA, Thurs. China and the Philippines today signed their biggest ever mineral contract under which China will receive 40,000 tonnes of copper concentrates worth more than US$l2 million (Ss3o million) In the next six months.- Reuter
      Reuter  -  40 words
    • Article
      Lock icon Death for 29 Chinese
      57 1 Reuter PEKING, Thurs. Twenty-nine people have been sentenced to death In the Chinese cities of Shanghai and Canton as a national law-and-order campaign gathers momentum. The Shanghai Supreme Court has ordered the death penalty for 26 "active counter-revo-lutionary" criminals and travellers said three Chinese had been
      Reuter  -  57 words
    • Article
      Lock icon Slow boat to China
      57 1 AP HONGKONG, Thurs. The Singapore liner "Rasa Sayang" with 320 passengers arrived In Hongkong today en route to China. The 18,000 tonne luxury liner, which will pick up more than 100 passengers In Hongkong, Is scheduled to leave tomorrow for the port of Whampao near Canton,
      AP  -  57 words
  • Chief Price Chonges
    • Article, Illustration
      In Singapore yesterday
      162 1 SHARES suffered further losses at the Stock Exchange of Singapore yesterday. Option trading also slackened considerably with premiums moving lower. The Business Times index fell 2.38 points to 256.16 while the Straits Times Industrial average was off 1.12 points at 251.03. Falls Most active Strait* Trading 346
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    • Article
      In Kuala Lumpur
      114 1 Foils Most a ictive O.C.B.C. Sc Best MeiaChem Slme Darby 17.00 91.83 -.10 Haw Par 137,000 07 Central Sugars 68,000 90 38 -06 Cons. Plant 56.000 93.32 06 Slme Darby 56,000 S Trading 95.79 -.05 Total Turnover: 1.06M L Perak 91.90 -.06 Total Value: M91.96M CandC 91-96
      114 words
  • Article
    Little hope for more personal tax reliefs
    1439 1  -  DESPITE PLEAS BY MPs By JOHN TAN APPEALS in Parliament this week from MPs for an increase in personal tax reliefs underscore the effect Inflation has had on the wage earner's pocket over the past several years. Many MPs argued that despite pay
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  • Article
    Lock icon Surplus of tanker tonnage may peak
    468 1 Reuter. LONDON, Thurs. Surplus tanker tonnage could reach a peak late this year and Into 1978, shlpbroker John I Jacobs said. According to the company, a sharp rise could occur after allowing for the Impact of the Dortyol, Sumed and Alaskan pipelines, Increasing availability
    Reuter.  -  468 words
  • Article
    Devan: Our workers just as good if...
    465 1 GIVEN the right approach to Industrial training, there Is no reason why the skilled Industrial worker In Singapore cannot equal the high Jerformance of his apanese or German counterparts. This was stated by Mr. Devan Nalr, secretary-ge-neral of the NTUC, yesterday at the
    465 words
  • Article, Illustration
    Support Bill on sale of GSA tin, Carter urged
    390 1 WASHINGTON, Thurs. An unofficial Government study urges the Carter Administration to support a bill before Congress which would authorise sale of 30,000 long tonnes of stockpiled tin by the General Services Administration. The study from within Department of Commerce, was disclosed
    390 words
  • Article
    The silver lining
    48 1 PARIS, Thurs. Debtridden Britain faces another bleak year with rising unemployment, doubledigit Inflation and sharply declining household incomes but better days are drawing nearer. This is the message of the Organisation for Economic Co-operation and Development in its annual report on Britain published here today.
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  • Article
    50 pc of Fujitec shares snapped up in S'pore
    328 1 THE offer of three million depository shares by Japan's Fujitec was oversubscribed by about sft times, according to financial circles. Dealers estimate that 50 per cent or slightly less was taken up by Singapore Investors while the rest were sold In
    328 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      35 1 Get advanced copying technology. Oversea* news/TV 4 Radio Local Co new* International Co Oversea* stocks P7 P2 Commodities P8 P3 Transport ft Compi munications P> Features Pit PS Local ft Overseas p« news Pll. 11
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    • Advertisement
      Page 1 Advertisements Column 2
      105 1 tor quality gifts and souvenirs I T 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
      105 words
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      Page 1 Advertisements Column 3
      3 1 BEE PAGE 12
      3 words
    • Advertisement
      Page 1 Advertisements Column 4
      273 1 GO WITH =11 *****55, *****5 *****0.*****6 ***** Turn receivables into cash! Find out how this company does it During the 1973-1975 period, at company's sates volume grew fr million to $5 million It expected this growth rate in the next lew y Because of its small networth. tf "was unable
      273 words
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  • OVERSEAS
    • Article
      Lock icon Healey trims 2pc off his inflation figure
      430 2 Reuter LONDON, Thurs. UK Chancellor of the Exchequer Denis Healey told the Parliamentary Labour Party (PLP) he now believes UK Inflation In 1977 will run two per cent lower than the 15 per cent he estimated In presenting financial measures last December, PLP
      Reuter  -  430 words
    • Article
      Lock icon Leyland strike may end next Monday
      197 2 Reuter LONDON, Thurs. A three-week-old strike which Is dealing a body blow to British Leyland, the country's biggest car builder, appears set to end next Monday. A sacking ultimatum by the management, concerned at lost production nearlng £100 million (***** million), sparked the breakthrough
      Reuter  -  197 words
    • Article
      Lock icon Bonn delays decision on raising VAT
      301 2 Reuter BONN, Thurs. The German Cabinet has postponed a decision on whether to make a further attempt to raise value added tax (VAT), a government press office spokesman said. Time was too short at yesterday's meeting after dealing with domestic political Issues, he said.
      Reuter  -  301 words
    • Article
      Lock icon Final touches to Italy's loan
      226 2 Reuter ROME, Thurs. Treasury Minister Gaetano Stammatl Is putting the final touches to Italy's Letter of Intent to support Its request for further IMF credit, and loan negotiations may be concluded fairly shortly, Italian official sources said. The IMF negotiating leader. European director Alan Whlttome,
      Reuter  -  226 words
    • Article
      Lock icon SCHMIDT THINKS BRITAIN WILL BE ALL RIGHT
      171 2 Reuter BONN, Thura. Wost German Chancellor Helmut Schmidt said he was convinced the British Government would succeed in combatting inflation and unemployment. "The effort* it has made so far are encouraging," be said in an interview published by British German Trade, magazine of
      Reuter  -  171 words
    • Article
      Lock icon Globtik all ready to weigh anchor
      136 2 Reuter LE HAVRE, Thurs. The British-registered tanker Olobtlk Venus, centre of a controversy since Its striking Filipino crew was ejected by a specially hired boarding party here, is now ready to sail, port authorities said yesterday. The tanker has completed unloading 50,000 tonnes of
      Reuter  -  136 words
    • Article
      Lock icon More favour self-rule in Quebec
      96 2 Reuter MONTREAL. Thurs. More Quebecers now favour Quebec Independence than in a November poll last year according to a public opinion poll published yesterday by the Canadian Institute of Public Opinion. The poll, conducted early In February, Indicates 22 per cent of Quebecers favour Independence.
      Reuter  -  96 words
    • Article
      Lock icon Sharp growth of domestic credit in UK arrested
      354 2 Reuter LONDON, Thurs. The sharp growth of domestic credit expansion (DCE), the British monetary Indicator closely followed by the International Monetarv Fund, has been reversed, the Bank of England reported. Domestic credit fell £830 million (553.5 billion) between October and January, after
      Reuter  -  354 words
    • Article
      Lock icon Govt flayed for spending cuts
      248 2 Reuter LONDON, Thurs. The public expenditure committee of the UK Parliament strongly criticised the Government for public spending cuts Imposed as part of Its loan application from the International Monetary Fund. In a report published yesterday on the latest Government White Paper on future public
      Reuter  -  248 words
    • Article
      Lock icon Egypt asks for UN talks on M-East
      476 2 Reuter UPI UNITED NATIONS, Thurs. Egypt announced last night that It had made a formal request for a meeting of the United Nations Security Council "as soon as possible" for a new MiddleEast peace conference. The Egyptian UN mission made public a letter
      Reuter; UPI  -  476 words
    • Article
      Lock icon 'NO SHIFT IN BASIC MONEY POLICY OF BUNDESBANK'
      582 2 Reuter FRANKFURT, Thurs. The Bundesbank Is not embarking on a fundamental monetary policy shift despite pumping more liquidity into the domestic banking system earlier this month, economists and money market dealers said. These moves were designed to limit money market tightness and
      Reuter  -  582 words
    • Article
      Lock icon PORTUGUESE THOUGHTS TURN TO A SAVIOUR
      1266 2  -  Portugal if in deep trouble financially. So after the habit* of nearly 50 years, it it tempting to turn back to a powerful father-figure who will balance the nation's books even at the cost of freedom. Advocates of authoritarianism are emerging into the light
      FINANCIAL TIMES  -  1,266 words
    • Article
      Lock icon 'More stable gold price'
      58 2 Reuter JOHANNESBURG, Thurs. The price of gold is likely to become more stable in the coming year, Union Witwatersrand Gold Mines Chairman L.W.P. van den Bosch said. In the annual reports of the Grootvlel Proprietary Mines and Marievale Consolidated Mines, he said the recent downward trend
      Reuter  -  58 words
    • Article
      Lock icon Win by Left won't hit our goals: Giscard
      283 2 AP PARIS, Thurs. President Valery Giscard d'Estalng was quoted as saying on Tuesday that the major success of the socialistcommunist alliance in Sunday's nationwide municipal elections would have no effect on the goals and priorities of his government. Mr. Giscard made the
      AP  -  283 words
    • Article
      Lock icon Taipower
      57 2 UPI TAIPEH, Thurs. The State-run Taiwan Power Company (Taipower) will Invest an equivalent of US$ll billion (Ss27 billion) in Its long-range power development projects in the next 10 years, Taipower president David S.L. Chu said today. The installed capacity in 1987 Is forecast at 18 minion kilowatts against the
      UPI  -  57 words
    • Article
      Lock icon Backing for bill to make corporate bribery a crime
      278 3 Reuter WASHINGTON, Thurs. The Carter Administration today threw Its support behind a bill to make corporate bribes to foreign officials a crime. Treasury Secretary Michael Blumenthal, testifying before the Senate Banking Committee in support of the bill, said such payments greatly
      Reuter  -  278 words
    • Article
      Lock icon Costly war
      29 3 Reuter BEIRUT, Thurs. Lebanon's 19-month civil war cost between five and eight billion Lebanese pounds (556.7 billion) ip material damage, Prime Minister Sellm Al-Hoss has announced. Reuter.
      Reuter  -  29 words
    • Article
      Lock icon Carter gets tough on oil tankers
      574 3 TO COMBAT SEA POLLUTION.. AP WASHINOTON, Thurs. President Carter Is considering a series of federal actions, Including new standards for all oil tankers using US ports, to combat oil pollution of the world's oceans, the White House announced yesterday. The proposed moves were spurred
      AP  -  574 words
    • Article
      Lock icon Soviets deny freight charge
      125 3 Reu ter MOSCOW, Thurs. Merchant Marine Minister Tlmofei Guzhenko yesterday denied that the Soviet Union was trying to undercut the shipping rates of the Western maritime powers. In an interview with the weekly, Literaturnaya Gazeta, Mr. Guzhenko dismissed as an absurdity Western accusations that communist fleets
      Reu ter  -  125 words
    • Article, Illustration
      Lock icon Bonn moots new fund to aid poor nations
      413 3 Reuter BONN, Thurs. West German Finance Minister Hans Apel yesterday proposed that the International Monetary Fund (IMF) set up a new facility to help developing and Industrialised countries with balance of payments problems. Mr Apel said the facility, whose size and details
      Reuter  -  413 words
    • Article
      Lock icon BRAZIL: COTTON YARN DUTY IS UNJUST
      237 3 Reuter RIO DE JANEIRO. Thurs. National Textile Council president Luiz Americno Medeiros uid the US decision to impose a 21.4 per cent countervailing duty on Brazilian cotton yarn imports is unjust and improper. In a press statement released in Sao Paulo, Mr Medeiros aaid
      Reuter  -  237 words
    • Article
      Lock icon BoA says world's growth will be slower
      113 3 Reuter SAN FRANCISCO, Thurs. Bank of America predicted global production as measured by real Gross National Product will rise by about 5.3 per cent in 1977 compared with the 5.7 per cent Increase in 1976. The bank, In Its report on the world
      Reuter  -  113 words
    • Article
      Lock icon EEC is not ready for textile talks
      448 3 Reuter GENEVA, Thurs. The European Economic Community (EEC) told Its partners here yesterday it was not yet ready to negotiate on the future of an international agreement regulating world textile trade and drew angry comments from some Third World exporters, conference sources said.
      Reuter  -  448 words
    • Article
      Lock icon Fresh US approach to rich-poor talks
      370 3 AP WASHINGTON,Thur. US President Jimmy Carter will take a new approach towards establishing a price-Influencing International fund that has become a major demand of the world's developing nations, top American official said yesterday. Opposition to such a fund by the Administration of former President
      AP  -  370 words
    • Article
      Lock icon Roaster ups coffee
      110 3 AF NEW YORK Thurs. General Foods Corp., the United States' largest coffee roaster, raised its wholesale coffee prices yesterday by 50 cents per half kg to a record US$4.2l (5510.35). The move followed Monday's action by secondranked Folger Coffee Co., wmcn raised ius wnuiesttie price from $3.68
      AF  -  110 words
    • Article
      Lock icon Revenues of oil exporting nations rise by $77 bil
      241 3 Reuter LONDON. Thurs Total estimated oil revenues of the exporting countries rose again In fourth-quarter 1976, expanding US$3l.3 billion (Ss77 billion) to bring total revenues last year to $113.2 billion versus $96.8 billion in 1975, the Bank of England reported. This
      Reuter  -  241 words
    • Article
      Lock icon Reserves decline
      51 3 Reuter ZURICH, Thurs. Switzerland's foreign exchange reserves fell 762 million francs (***** million) to 12.94 billion francs In the second week of March, the national bank said. The fall reflected sales in connection with the liquidation of swap operations and in connection with rules on capital export conversion.
      Reuter  -  51 words
  • Page 2 Advertisements
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      34 2 SEE PAGE 5 If it's English you needwe know what we're talking about. ENGLISH CMSSES Our next 10-week term starts on Marcb 2*st it inlingua School of Languages r V.J 1 S i: *****22
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      41 2 WEATHER March 17 at report Sinca for 24 boon prior to 7.30 p.m. on pore airport. Maximum temperature Associated humidity Minimum temperature Associated humidity Hours of suashiae n«i«f«ll in miliimotree Total rainfall for the month Total rainy days for the month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      257 2 10 SINGAPORE 5 3.00 P.M. Opening Announcements followed by Housewives' Matinee "The Car and I" (r) Pt. 2 of a Mandarin film. 3.55 Diary of Events (Chinese) 4.00 Waterloo Farmers 4.30 Intermission 6.05 P.M. Opening Announcements followed by "Exercise with Gloria"« 6.30 News in Brief 6.35 Wild, Wild World of
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      155 3 JL "••A*- c-rrr r-aaaC w* S2B f,^ f v, '■•r 1 '•>> .W i*& v Every Tuesday and Saturday The only non-slop service, Now you can fly one of Air New Zealand's wide-bodied DC-10s to New Zealand for only $1,743* return. It's a fantastic 45% reduction on the current economy
      155 words
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  • COMPANY NEWS
    • Article
      Hongkong Tin to start mining soon
      320 4 HONGKONG Tin chairman, Mr. W.H. Caldwell, said the company has started overburden stripping for an opencast tin mining operation on about 85 acres at the southern end of Its mining leases In Selangor state. Tin ore production by one unit Is expected to start
      320 words
    • Article
      DIVIDENDS ANNOUNCED
      464 4 Current Ex Date Total for Total for payment Date payable the year previoua year M. Tobacco 35% Feb 7 Mar 18 50% 40% Wilkinson Procni 15% Mar 7 Mar 24 20% 39.1%a Idris Hyd 30%I Mar 25 60%I 71.5% Tanjong Tin 13.3%I Mar 25 26.7%I 30.9% A. Amalgamated
      464 words
    • Article
      Higher prices boost profit at Lingui
      313 4 Partly reflecting the better sentiment prevailing in the tin market, pre-tax profit at Llngul Developments rose by 23.4 per cent to M 5453.000 for the year ended Dec 31, 1976. An analysis shows that the better profitability occurred in the second halfyear when pre-tax
      313 words
    • Article
      Faber Merlin (M) wants to know terms for relisting
      933 4 AFTER a year-long skirmish with the Kuala Lumpur Stock Exchange over improper share dealing activities Involving associate Pahang Consolidated, Faber Merlin Malaysia has asked what It calls the "new KLSE" the conditions for the relisting of Its shares. Replying to queries
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    • COMPANY MEETINGS
    • Article
      B and M Trustees
      26 4 BRITISH AND MALAYAN TRUSTEES Estimated pre-tax profit $21,000 ($31,000) for the first six months ended Dec 31, 1976. Estimated Income $176,000 ($152,800).
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    • Article
      CHICAGO BOARD OPTIONS
      1159 4 on March 16 ON the Chicago Board Options Exchange on Wednesday, a total of 94,793 contracts were traded compared with 110,086 on Tuesday. II^DA IU an STOCK IM M In tH IU «l lax* •«*r> •lank All) IMIII Am tfeiii Am M»W% bam M CM*. A (IUii
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    • Article
      Lock icon Savings banks pulling away business claim
      325 4 Reuter NEW YORK, Thurs. Since they were permitted to offer personal checking accounts last year, savings banks In New York state have steadily drawn away business from commercial banks, a survey by the Federal Reserve Bank of New York showed today. At the end
      Reuter  -  325 words
    • Article
      Lock icon MRT to cancel less favourable loans
      638 4 Reuter HONGKONG. Thurs. Two recently arranged local loans for the Mass Transit Railway Corporation (MRT) totalling HKSI.2S billion will mean the cancellation of an equivalent amount of earlier, less favourable, facilities, MTR chairman Mr. Norman Thompson said. This will probably Involve half of a
      Reuter  -  638 words
    • Article
      Lockheed to develop new Tristar version
      417 4 BURBANK (CALIF). Thurs Lockheed Aircraft says it may develop new versions of Its LlOll Tristar jumbo Jet after concluding talks with major airlines. The market for short to medium-range Jets may reach US$29 billion during the 1980s, a Lockheed executive Mr Richard W. Taylor,
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    • Article
      Lock icon Firestone fire
      123 4 Reuter NEW YORK. Thurs. The fire at the Firestone Tire and Rubber's Llberlan rubber plantation is under control, but no assessment of the damage has been made, a company spokesman here reported The fire, which started on March 8, spread over an estimated 1,000 acres of a total
      Reuter  -  123 words
    • Article
      Lock icon Chase arranges loan
      102 4 Reuter HONGKONG, Thurs. The Chase Manhattan Bank has arranged a long term U5525.5 million loan for Li International Holdings, a wholly-owned subsidiary of the Hongkong based Grand Marine's fleet to 30 vessels, mostly bulk carriers. The two companies declined to disclose other details of the loan. Two
      Reuter  -  102 words
  • Page 4 Advertisements
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      100 4 A wealth of answers to scientific phenomena LIFE SCIENCE LIBRARY At A thousand questions you've asked but never had answers to. Now to be found in these fantastic volumes from Life Science Library. Vast information on every conceivable branch of science. The power of pure energy molecular theory mathematics the
      100 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Holmen income down again
      220 5 STOCKHOLM. Thurs. Holmen's Bruk, Europe largest newsprint manufacturer, reports reduced earnings for the second year In succession, underlying the Swedish paper Industry's contention that current prices offer It insufficient profit margins. Britain is the main customer for Holmen's newsprint and magazine paper. The preliminary figures for
      220 words
    • Article
      Xerox
      104 5 STAMFORD, Conn., Thurs. Xerox said It expects 1977 to be better than 1976, when the company earned U*****.6 million or $4.51 a share from continuing operations. The chairman. Mr. C. Peter McColough and the president, Mr. Archie R. McCardell, made the forecast in the annual report. "While we are
      104 words
    • Article
      Lock icon Olympus on the uptrend
      248 5 Reuter TOKYO, Thurs. Olympus Optical expects to report a 41 per cent Increase In Its after-tax profit to two billion yen for the first halfyear ending April 30, 1977, from 1.42 billion in the same period of the previous year, on sales totalling 30.8 billion yen
      Reuter  -  248 words
    • Article
      Korean
      58 5 HONGKONG, Thurs. A US$lOO million five-year loan for Korean Exchange Bank Is in the early stages of syndication by the Deutsche Bank group, banking sources said. Interest terms on the loan are not yet fixed, but the sources said the rate Is expected to be less than 1 7/8
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    • Article
      Lock icon Italy suspends loan to Montedison
      142 5 Reuter ROME, Thurs. The Italian Government's intermlnisterlal financial aid committee has decided to suspend loans granted to the Montedison group while It Investigates whether the company is respecting existing agreements to protect employment levels, the Industry Ministry said. Industry sources said the measure concerns about
      Reuter  -  142 words
    • Article
      Lock icon Merrill Lynch downturn
      133 5 Reuter NEW YORK, Thurs. Merrill Lynch expects a downturn In earnings and revenue in the first quarter, although the latter part of the year should be better than the similar period last year, the chairman Mr. Donald Regan, told a press luncheon. Merrill Lynch had earnings of
      Reuter  -  133 words
    • Article
      ATT earnings not sufficient
      181 5 NEW YORK, Thurs. Though American Telephone and Telegraph has enjoyed a 20 per cent rise In net profit to US$l billion ($B3l million) In the quarter ended Feb 28, 1977, It Is not satisfied with the rate of return. AT and T said earnings for the
      181 words
    • Article
      Tenneco
      87 5 HOUSTON. Thurs. Tenneco said yesterday that it and Monroe Auto Equipment Intend to oppose the Federal Trade Commission's request for a preliminary lnjuctlon to block their proposed merger. The company said Its lawyers had advised that the merger would not violate US anti-trust laws. Tenneco has proposed acquiring at
      87 words
    • Article
      Royal Bank
      45 5 MONTREAL, Thurs. Royal Bank of Canada said it will buy all outstanding shares of Canpac Leasing, a wholly-owned subsidiary of Canadian Pacific Investments. for undisclosed cash. Royal said the takeover will take effect on April 1 Canpac has assets of about US$lOO million.
      45 words
    • Article
      Lock icon Analysts are bullish on hospital management stocks
      810 5  -  By ROBERT METZ NYT THE hospital management companies' stock were regarded as undervalued by some Wall Street analysts even before the slump that occurred after the Carter Administration Indicated it would propose legislation to limit annual Increases in hospital charges. When the word
      NYT  -  810 words
    • Article
      Lock icon Mitsubishi Chem profit higher
      207 5 Reuter TOKYO. Thurs, After tax profit at Mitsubishi Chemical Industries rose to 5.08 billion yen from 4.22 billion yen In the year ended Jan 31. 1977. Sales Increased to 599.37 billion yen from 588.8 billion yen. Mitsubishi Is paying a maintained dividend of five yen. Mitsubishi
      Reuter  -  207 words
    • Article
      Kawasho
      59 5 TOKYO. Thurs. Kawasho Corp. said yesterday It has won an order of four barees valued at US$22.6 million from International Ship Holding an affiliate of Armco Steel, officials said. Kawasho said the barges will be used as a basement of floating hotels In Saudi Arabia which quarter Armco engineers
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    • Article
      Lock icon British Steel will not close Shotton
      212 5 Reuter LONDON, Thurs. British Steel Corp has decided not to proceed with Its proposed closure of the Shotton steelworks In Wales and will continue with Its t'B3s million expansion at Port Talbot Industry Secretary Eric Varlev told Parliament. BSC will undertake expenditure to keep
      Reuter  -  212 words
    • Article
      Fokker to get govt aid
      126 5 THE HAGUE, Thurs. The Dutch Government is willing to give financial aid to Fokker-VFW to help In the marketing of Its F2B and in its work as subcontractor for the A3OO-alrbus, an Economic Ministry spokesman told Reuter. He did not elve details, however, as talks
      126 words
    • Article
      Lock icon TSE lowers minimum lots for foreign stocks
      209 5 Reuter TOKYO, Thurs. The Tokyo Stock Exchange said it has decided to lower the minimum trading lots for foreign stocks listed in market, so that Japanese investors can buy them more easily. The new trading lots, due to take effect from April 1,
      Reuter  -  209 words
    • Article
      Lock icon N Ferrite seeks permit
      99 5 Reuter TOKYO. Thurs. Nippon Ferrite has filed an application with the Tokyo district court for permission to reconstruct Itself under the corporate Rehabilitation Law, the president, Mr. Tsushl Fukushlma, said. He told a news conference the company took the measure after withdrawing its previous application filed
      Reuter  -  99 words
    • Article
      Blagden & Noakes record profit
      215 5 Blagden Noakes record profit LONDON, Thurs. An advance In taxable profit from a depressed £2.42 million to a record £3.78 million was achieved by steel drum manufactures and reconditloners Blagden and Noakes (Holdings) in the 53 weeks to Jan 2. 1977. This followed an Improvement of £591,000 to £1 69
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    • Article
      Lock icon Strong base for optimism
      960 5  -  GKN-SACHSTAKEOVER By A.H. Hermann FT GUEST, Keen and Nettlefolds. the British engineering group, is confident that it will be able to complete Its acquisition of a 74.99 per cent stake In the West German Sachs motor components group before the end of the year. GKN's optimistic
      FT  -  960 words
    • Article
      Lock icon Tate & Lyle
      97 5 Tate Lyle Reuter LONDON, Thurs Tate and Lyle chairman Mr. John Lyle, told the annual meeting Tate and Lyle Engineering will soon sign contracts worth over £40 million for agro-industrial projects in the Far East. However, he gave no further details of the countries and projects involved. Mr. Lyle said
      Reuter  -  97 words
    • Article
      Lock icon Thomas Tilling buoyant
      153 5 Reuter LONDON. Thurs Thomas Tilling has enjoyed a 24.7 per cent rise In pretax profit to £41.9 million from £33.6 million last year The profit Increase was achieved on a sales rise of only 7.3 per cent to £671.3 million (£625.6 million). Earnings per share were up
      Reuter  -  153 words
    • Article
      Toft makes rapid progress
      154 5 BRISBANE. Thurs Toft Bros Holdings has reported a big increase in unaudited consolidated net operating profit to ASI 01 million from $357,000 last year The near three-fold profit jump was achieved on revenue of $23 97 million, up from $18.54 million last time. Profit is before
      154 words
    • Article
      Lock icon Ultramar suffers setback
      115 5 Reuter LONDON. Thurs Pre-tax profit at Ultramar fell to 116.47 million from 122.57 million last year The company Is not paying a dividend but has proposed a scrip Issue of one-for-15. Net profit came to ti1.26 million compared with £16.42 million last time and earnings per share
      Reuter  -  115 words
    • Article
      Lock icon Tiny Rowland takes over at Suits
      548 5 AP LONDON. Thurs. Two controversial British tycoons were Involved In a multlmilllon dollar deal yesterday four months after one admitted losing fortunes to his passion for gambling. A statement from Scottish and Universal Investments known as Suits said that its chairman. Sir Hugh Fraser
      AP  -  548 words
    • Article
      Lock icon LEYLAND TO RECEIVE A FURTHER £50m
      249 5 Reuter LONDON, Thurs. British Levland has drawn only t'so million of the iIOO it is entitled to borrow from the National Enterprise Board. NEB chairman Lord Ryder said He told a Parliamentary Committee the company can borrow a further t5O million irrespective of any
      Reuter  -  249 words
    • Article
      Lock icon Harvester optimistic
      88 5 Reuter CHICAGO. Thurs International Harvester expects fiscal 1977 net to top the US$6.O2 a share of the year ended Oct 31. its president, Mr Brooks McCormick told the annual meeting McCormick said the company is looking for a better year despite a drop in first quarter net to
      Reuter  -  88 words
    • Article
      Metal Ex agrees to restructure loans
      338 5 MELBOURNE. Thurs. Metal Exploration said Its Metal Exploration Queensland unit and Freeport Minerals unit. Freeport Queensland Nickel, reached agreement in principle with lenders and the Queensland Government for a partial restructuring of interest and loan repayments The two units are 50/50 partners in the
      338 words
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      Page 5 Advertisements Column 1
      228 5 ALL BIFOCAL WEARERS! ££x m motive of rounlrj. SmrirMi an intrtru** <V Fmtrk mA.it. hr rwj. bm hr'» iacMpHwi; rm >*»iM h»v* thcmcte hr mm not (wiaM > *«*n Vapolrwß M <*. fcfc «wdn t Iff your vision is restricted like this... The view through the segment is limited, like
      228 words
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  • Article
    Share Information Service
    2101 6 \ntm Hick Low La*t Company Sale +orGr'» div Div c'vr Gr't Net y'ld P/E Vol Day ('000) Hick Low H SECTION ONE INDUSTRIALS 1 175* 133 206 100 237 186 201* 204 248 460 133 127 172 60 185 66 127* 149 172 378 Ac ma Acma
    2,101 words
  • Article
    Transactions in Singapore
    989 6 BID and offer prices officially listed and business in and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets In tots of 1.000 units unless otherwise specified. All Time Settlement Contracts are quoted after word "Set". Big Board deals
    989 words
  • Article
    In Kuala Lumpur
    1355 6 BID and offer prices officially listed and business In and reported to the Kuala Luirpur Stock Exchange yesterday with number of shares traded shown in hrackets In lots of 1.000 units unless otherwise specified industrials Acmi (1.448 1 488) A. T MM (0 SOB 0 518) (1)
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  • Article
    Stock options
    125 6 STRIKING prices of the slock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June 53.00) (o.lo*B 0.118) (2) 0.10. Inchcape (June $2.40) (0.138) (12) 0.13*, (1) 0.12*.
    125 words
  • Article
    Unit trusts
    147 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manager*' price* for Mar 18) (Current pi nee*) The Commerce lie i.m INCOME BOND 1.10 1.18 The Saving Fund S' pore Prof Fund SJxjre Security Fund 0.88 O.Mid 0 78 0.84 MARA BUMIPUTRA FUND 1.42 1.50 (Manager* price* for Mar IS) Spore
    147 words
  • Article
    Corporate bonds
    147 6 B O T 8 1/2% 1981 (100,000) (1038 103''iS) D B S 8 1/7% 1982 (100,000) (100'4B 101S) DBS Convert* 6 1/2* 1991 (100.000) (96*>B 97ViS) E 1 B 9% 1982 (100.000) (103 SB 104'/iS) E I B 8 1/2% 1983 (100.000) (99'18 100HS) I B J 8
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  • Article
    Domestic govt bonds
    108 6 5 1/2% 1/12/77 (1,000,000) (101 508 101.655) 5 1/2% 15/4/78 (1,000.000) (101 608 101.735) 5 1/4% 15/7/78 (1,000,000) (101 538 101.595) C 1/2% 15/8/78 (1,000,000) (103 208 103.405) 7% 1/7/79 (1,000,000) (104.858 105 OOS) 5 1/2% 1/10/77-79 (1,000.000) (101.558 101.70S) 5 1/4% 15/10/79 (1.000,000) (101.088 101.18S) 6
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      137 6 Penguins in Business and Management Understanding Company Financial Statements: J. 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 Business Enterprise: M. Gilbert Corporation Man: A. Jay
      137 words
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  • Article
    Price slide continues
    586 7 SENTIMENT at the Stock Exchange of Singapore yesterday was generally easier with the big investors still finding no inducement to come into the market. With buying support dwindling, the scattered selling by some of the nervous holders continued to take its toll on prices across a wide
    586 words
  • Article
    More losses at KLSE
    339 7 PRICES fell for the third consecutive day as sellers asserted their Influence at the Kuala Lumpur stock market yesterday. The selling pressure which was noticeably heavier yesterday, took its toll on the values of most of the stocks traded. But the brunt of the selling was
    339 words
  • Article
    Lock icon Earnings rise at C.B. Lambert
    117 7 Reuter BRUSSELS, Thurs. Group gross profit at Cle Bruxelles Lambert rose marginally to 1.12 billion francs from 1.11 billion francs last year. At the parent company level, net profit fell to 809 million francs from 823 million francs. The company is paying an unchanged dividend
    Reuter  -  117 words
  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1122 7 NEW YORK. The two-day old stock market rally lost some of Its momentum on Wednesday but eked out a small advance In an overall lackluster session. Trading was active. Gainers were ahead of losers by about seven to six. "Many investors In the sidelines still aren't convinced that
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    • Article
      Frankfurt
      331 7 FRANKFURT: Shares were mixed to higher on renewed buying, helped by some Swiss orders, dealers said on Wednesday. Most chemicals gained, although Dsgnssa lost 0.80 marks. Electrlcals were mixed, with Brown Dofsri falling up to 1.10 marks but Sisasns ana Asg rising slightly. Autos were unchanged to higher. Banks
      331 words
    • Article
      Amsterdam
      300 7 AMSTERDAM: Shares generally eased but most Dutch Internationals except steady Philip* Rained some ground. Shippings, and major banks were mixed KLM and OCX were very firm spots elsewhere, while Natioaale Nederlanden was marked gainer in mostly weaker Insurances. Losses were led by Bolt. State loans were quietly mix- ed.
      300 words
    • Article
      Tokyo
      461 7 TOKYO: Share prices closed lower as late llqulaaUons in blue chips more than offset ground gained earlier, dealers said on Thursday. The Dow Jones average lost 9.70 to close at 4.088 85 with volume 180 million shares. The New Index closed at 378.18, down 1.18. Electrlcals and electronics fell
      461 words
    • Article
      Brussels
      169 7 BRUSSELS: The market was mixed to firm In quiet trading with only minor price movemenu In most shares, dealers said on Wednesday. Sidro, Intercom, FN, GB-laao-BM and Govaert rose while SoAna, Clabooq, Kerne, UCB and Arbed fell. UK. French and Oerman stocks were firm, US Issues generally rose Other
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    • Article
      Milan
      164 7 MILAN: The market closed mixed in thin trading on Wednesday. unable to recover Tuesday's uncertainty, dealers said. Sentiment continued rather cautious. Leading Industrials ruled narrowly mixed, with Flat and Montedison leading gains. Sale Viscosa and Pirelli Ec lost ground, as did Genorale Immobiliare Asaicurasioai General! firmed In Insurances as
      164 words
    • Article
      Zurich
      307 7 ZURICH: Business was mixed, although gains outnumbered losses. The market displayed a firmer bias following the New York opening but demand was selective, dealers said on Wednesday. Among very steady banks, bearer shares of Lisa and Krsditnnstalt advanced. In Irregular flnanclals. Bally and Landb registered declined. In insurances, small
      307 words
    • Article
      Paris
      374 7 PARIB: Thf market was generally steady, helped by news that France industrial production rose in January and that the trade deficit fell In February. dealers said on Wednesday^ Chemicals, portfolio Investments. foods, buildings and engineerings held up well, but electricau. metals, banks and oils eased slightly Stores were Irregular
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    • Article
      Hongkong
      399 7 HONGKONG: The market closed slightly easier in dull trading on lack of Incentives, dealers said on Thursday The Hang Seng Index dropped 1.66 points to 418.31. Among leading stocks Hongkong Bank fell 10 cents to $***** and Jardine Matheson 20 cents to $16.80. Hutchiaon lost 2.5 cents to $3,125,
      399 words
    • Article
      Jo'burg
      383 7 o JOHANNESBURG: Gold shares were generally steady at hltfher levels In moderate trade toward the close as European bullion indications levelled off, dealers said. Financial minings were basically firm although Anglo* moved three cents off a peak at 420 to rule a net seven cents harder at 417. Coppers
      383 words
    • Article
      Sydney
      416 7 SYDNEY: Prices firmed slightly on selective buying, dealers said on Thursday. Utah rose five cents to $4.20 and CRA. WMC. North BH, and Ampol Ex were slightly higher. Woodside Burmah, however, lost four cents to $1.03 and Kathleen following Its lower profit and Qld Mines were also weaker. The
      416 words
    • Article
      Toronto
      270 7 TORONTO: A broad advance over the last two hours pulled most market sector* marginally higher at the close on Wednesday. Trading was moderate. Advances outpaced losers 238 to 100. Nowaeo gained 1 1/4 to 19 3/8. MiWiwwi Lake A 1/2 to 14 1/4, CanadSaa Tire A 3/8 to 30
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    • Article
      Manila
      173 7 MANILA: The market was generally easier In dull trading, dealers said on Thursday. Turnover fell to 1.83 million pesos from Wednesday's 2.87 million. Gainer* included San Miguel "B" and Sea front while Atlas Con "A" and "B", Le panto "B", Phi lex "A" and Pkll Ovmmm lost ground. Unchanged
      173 words
    • Article
      Bangkok
      87 7 MAR 17 Bahts Asia Fibre 135 unch Bangkok Bank 247 +2 Bangkok Invest 182 ♦3 Bangkok-Metro-politan Bank Bata 387 Berll Jucker 181 ♦5 ChfToong Thai Wire 148 unch Dumex Dusit Thani Faber Merlin First Trust Indo-Thal J And J Ho 219 ♦1 Jalaprathan Cement 00 ♦1 KarnasuU Lee Kwang
      87 words
    • Article
      Indices
      62 7 FINANCIAL TIMES INDUSTRIALS Wednesday 428.1 Tuesday 427.9 Week ago 410.2 DOW JONES AVERAGE INDUSTRIALS Wednesday 968.00 Tuesday 965.01 Week ago 942.90 LONDON DOLLAR PREMIUM Wednesday 109 to 109V» Tuesday 112 to 112* H.K HANG SENG Wednesday 419.97 Tuesday 419.26 Week ago 419 Oe SYDNEY INDUSTRIALS Wednesday 350.00 Tuesday 348.15
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  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      363 7 m T43SSI Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the PU pasar malam! Because Penguin books are rather |*~m special. They are mind-stimulating, deeply researched, entertaining in a wholesome way, highly educational j Iff quite unlike
      363 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      337 8 THE Singapore rubber market yesterday opened half a cent firmer following steadier London advices ana later rose a further half cent on speculative support, dealers said. Physicals were neglected. The morning session closed quiet with April RSS One buyers quoted at 200.50 cents per kilo,
      337 words
    • Article
      Closing prices
      29 8 Rubber: Mar 17 Singapore: April 205.50 cts (down 0.50 ct.) Malaysia: April 208.50 cU (down 0.75 ct) Tin: 11,632.00 (unch) Official offering: 210 tonnes (down 30 tonnes)
      29 words
    • Article
      SSR and SMR
      102 8 April May R.A.S. (Current Mth) (Farward Mth) Buyer* Seller* Buyer* Seller* (cei it* per kg) (eestape r kg) SSR20 (1-ton Pallet) 196 SO 198 SON 198.00 200 OON SSR50 (1-ton Pallet) 194.00 196.OON 195.50 197 50N M.REL.B SMR5CV (1-ton Pallet) 225 75 227.75N 228 75 230 75N
      102 words
    • Article
      Straits tin
      175 8 THE Straits tin price in Penang yesterday was unchanged at $1,632-00 on an official offering down 30 tonnes to 210 tonnes. In LONDON yesterday, tin rallied £95 for Cash and £80 for Three Months In both contracts. Dealers said steadiness at Penang was the main factor sustaining the
      175 words
    • Article
      Palm oil
      128 8 THE following Palm Oil prices were quoted In London on Wednesday The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated. Wednesday Pre*. Malaysia 5% ffa bulk 598 sir 595 sir May Sumatra 5% Mch unch 613.50 pd Apl 615 sir 80S
      128 words
    • Article
      Copper
      338 8 LONDON, Thurs. Copper wire bars gained fully £10.50 for Cash and £10 for Three Months In the morning. Early bouyancy on the premarket reflected overnight reports of Increased US housing starts, firmer gold and continued concern over the Zaire situation, dealers said. Three Months traded up to £923 per
      338 words
    • Article
      Gold
      718 8 IN the Singapore gold market yesterday, the kilobar changed hands In the range or Ssll,Boo to 5511,850. The loco London gold opened at U*****.50/ 148.90 following the firmer trend In the malor gold centres and, on mild profit-taking, dipped to U*****.20/ 148.50 before closing at U*****.30/ 148.70. The next
      718 words
    • Article
      Lead
      81 8 LONDON, Thurs. Lead advanced by £8 for Cash and £6 for Three Months In the morning. Early fresh buying enthusiasm, reflecting sound fundamentals and the general tone In base metals took Three Months up to £444 In the pre-market. However, there was still nervousness in the market following yesterday's
      81 words
    • Article
      Zinc
      54 8 LONDON. Thurs. Zinc rose £1.75 per tonne for Cash and £2.75 for Three Months In the morning. The market was fairly subdued with some fresh buying lifting Three Months to £449 on the pre-market before scattered profittaking and hedge-selling pared It to £446 In the Ring. Sales of 6,100
      54 words
    • Article
      Produce prices
      314 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil Bulk SI 10 sellers, old drum $115 sellers, new drum $120 tellers. Copra: Mixed (loose) UK/Oont. $72 buyers. Pepper: Muntok AST A white fob 100S NLW $397 S tellers. Sarawak white f ob MS NLW $377
      314 words
    • Article
      Coffee
      369 8 LONDON, Thurs. Robusta futures ended a fairly brisk opening irregular, with gains of up to £35 in the near positions and losses of up to £32 In forward months compared to last nights close. 548 lots were traded. May closed at £4,045 after trading at a high of £4,100
      369 words
    • Article
      Soybeans
      153 8 CHICAGO, Wed. Soybean futures extended early rains through the session to finish at or Just below the day's highs, with gains of 2i\ to 8V» cents a bushel. The July contract reached its season high but the advances in other old crop months fell two to three cents short
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    • Article
      Wheat
      114 8 CHICAGO, Wed. Wheat futures finished the session with gains of 2 to three cents a bushel. Spillover buying from soybean futures helped take {jrlces higher. But specuatlve buying also was generated by the reports of export business and possibilities that China might buy more wheat on the world market
      114 words
    • Article
      Silver
      244 8 LONDON, Thurs. Gains In sliver ranged from 1.6 to two pence per troy ounce In the morning. Early pre-market business up to 293.5 pence reflected last night's rally at New York, higher gold and the trend in base metals, dealers said. Values later receded partially in line with base
      244 words
    • Article
      Sugar
      220 8 LONDON, Thurs. Sugar futures opened steady on trade buying and prices rose £1.10 to £0.50 stg over yesterday's closing levels. Sales totalled 357 lots. Values held steady on persistent trade support and at end morning, there were gains of £1.50 to £0.70. Sales were boosted to 1,205 lots by
      220 words
    • Article
      Rice
      215 8 BANGKOK, Thurs. Indicative prices quoted for rice were: US dollars per tonne fob basis Bangkok White Rice 100 per cent Ist class 292 100 per cent 2nd class 277 100 per cent 3rd class 272 5 per cent 282 10 per cent 242 15 per cent 239 20 per
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  • MONEY AND EXCHANGES
    • Article
      Singapore
      518 8 SINGAPORE'S domestic money market continued to be flush with funds yesterday, although dealers said trading was in balance for the whole of the day with no artificial strains. Overnight money, serving as a rough gauge of the market's disposition, opened in the morning at the 3 3/4 per cent
      518 words
    • Article
      Asian $ rates
      153 8 Asian rates ASIAN currency deposit Interbank rate* u at clow on March 17 USMlui K8»M> 7 day* 4 7/> 4 3/4 1 mth 415/16 4 13/16 2 mth* 5 1/18 415/16 3 mth* 5 3/16 51/16 6 mth* 5 9/16 5 7/16 9 mth* S13/16 511/16 12 mth* 6 57/1
      153 words
    • Article
      Discount
      42 8 RANOE of price* offered by discount houses on March 17. Overnight \k to J* Call deposit 3% Cleeiag 3-month MUX Treasury bills 3 >14 3-Month Bank bills 4 3H 3-Month CD 4* 4 •-Month CD 47/14 4* Source: National Discount Co
      42 words
    • Article
      Euro $ rates
      170 8 Euro rates LONDON, Thurs. Most period Eurodollar deposits opened higher reflecting the loss of the Friday dealing technicality, while day to day rates were little changed, dealers said. Initial period gains following the change In dealing date ranged between 1/4 and 1/16 with early business In this sector fairly slack.
      170 words
    • Article
      London
      260 8 LONDON, Thurs. Sterling opened very firm after some profit-taking In the Far East, but demand for Sounds continues to be met y the Bank of England which Is holding the rate around $1.7190, dealers said. Some dealers reported the Central Bank purchased substantial amounts of dollars in the first
      260 words
    • Article
      New York
      224 8 NEW YORK, Wed. The Canadian dollar closed stronger here In nervous trading after an economist forecast It will hold at around US9S cents this year, dealers said. An external bond conversion also supported the Canadian unit which closed at U595.06/08 cents from 94.73/76 cents overnight. However, dealers said
      224 words
    • Article
      Tokyo
      130 8 TOKYO, Thurs. Dollar for overnight delivery closed lower at 281.70 yen to 281.95 both at the opening and yesterday's close, dealers said. Dollars moved narrowly in quiet early trading, as Japanese banks waited for price indications ahead of the Japan-US summit talks early next week, they said. However, the
      130 words
    • Article
      Hongkong
      117 8 HONGKONG, Thurs. The US dollar firmed sllghtSln quiet trading to close at K54.8200/30 from $4.8170/90, while overnight and call rates eased to three per cent from around 3.5 per cent yesterday, dealers said. The US currency was also slightly above Its New York close against European currencies, being quoted
      117 words
    • Article
      Minimum lending rates (in %)
      57 8 Minimum lending rates (in ACBC Algemene Bank S% Bangkok Bank 7 Bank of America 6* Bank of China .7 Bank of Tokyo 6*. Bank Negara Indonesia 7 Chartered Bank 6*« Chase Manhattan 6*i DBS 8 First Chicago 6* Citibank 6* HSBC 7 Indosuet 6* Malayan Banking 6* Mitsui Bank 6*>
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    • Article
      Australia/NZ
      47 8 AUSTRALIA/NZ exchanges quoted on March 17 Australia: Sterling 0.6423/0.6352 US dollars 1.1008/1.0960 Ninety-day air mall buying rates: Sterling 0.6659 US dollars 1.1258 Ninety-day forward buying rates: Sterling 0.6473 US dollars 1.0915 New Zealand: Sterling 0.5573/0.5542 US dollars 0.9629/0.9529 Ninety-day forward rates: Sterling 0.5870 US dollars 0.9815
      47 words
    • Article
      Zurich
      57 8 ZURICH exchanges closing quotes on March 16. US 2.5578 5588 UK 4.3980 4015 Can 2.4235 4260 W Germ 106.82 92 Neth 102.38 47 France 51.28 32 Belg 6.97% 98 Denm 43.61 64 Norw 48.67 70 Swed 60.63 67 Italy 0.2886 2888 Austria 15.05 07 Port 6.58 61 Spain 3.72
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    • Article
      Frankfurt
      34 8 FRANKFURT exchanges opening quotes on March 17. US 2.3927/37 2.3950/ 55) Can 2.2725/45 UK 4.110/125 Neth 95.80/95 Swltz 93.52/67 Italy 2.690/705 France 47.97/48.07 Norw 45.49/57 Belg com 6.520/535 Belg fin 6.50/52 Japan 0.8493/8503.
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    • Article
      Eurobond prices
      314 8 LONDON Eurobond prices on March 17 Straight* BM Offer Austria 8V. 90 100 V. 101 Bell Canada 8% M 105 105V, BFCE8%83 101% 102% Brazil 9 V. 84 97 Ha 97% Can Pacific 9 v. 83 102% 102% Credit National 8% 86 99 99% ECSC 9 83 103
      314 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      167 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) Surface mail Zone Singapore Malaysia, Brunei Overseas Second class airmail (Individually wrapped and mailed) Zone Brunei. Sarawak, Sabah Australasia/Pacific (excluding Hawaii)
      167 words
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  • TRANSPORT and COMMUNICATIONS
    • Article, Illustration
      Lock icon Britain's answer to America's AW ACS could cause a lot of damage to Nato
      722 9  -  By Brian Dunning NYT UNLESS THERE is a sudden change, Britain's latest answer to the Boeing AW ACS. or Airborne Warning And Control System, could cause considerable political damage to Nato. Next manth Nato representatives meet
      NYT  -  722 words
    • Article, Illustration
      IN PORT
      458 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Botany Trader (P/O) (Tanker) (0600 subject gas free) 16 Dona Montserrat (2000 SMS,* UUr tnan Teak ,JNEJ > Joan D'Arc (0600 23 New Ocean (9VBT) (0600 after Hosel Maru) 27/28 Palm Sea Horse (P/O) (Tanker) (2300 after Botany Trader sails) 16 Perils (1230
      458 words
    • Article
      Lock icon London freight market
      193 9 AP LONDON, Thurs. After a short-lived pause on the London freight market, North American grain chartering regained Its lost momentum yesterday as numerous March-April loaders found employment In the US Northern Range and US Gulf. Rates continued at previous levels, as demonstrated by the US Gulf-Ja-pan trade
      AP  -  193 words
    • Article, Illustration
      AUSTRALIA'S GRETEL IS OFF AGAIN – BY ROAD
      142 9 AUSTRALIA'S GRETEL IS OFF AGAIN BY ROAD GRETEL Australia's unsuccessful challenger for the America's Cup in 1970, recently began a second trip to Newport, Rhode Island, for a second attempt to win the coveted yachting trophy. Extensively rebuilt at the Halvorsen and Gowland yard at Wyong, north of Sydney, she
      142 words
    • Article
      'Deregulation' Bill will hit airlines
      545 9 WASHINGTON: Separating the airlines from the benign embrace of the Civil Aeronautics Board (CAB) Is not going to be an easy task. President Carter's call last week for "deregulation by this summer" has sharpened the anxieties of the airlines, large and small, which are convinced
      545 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      580 9 ARRIVALS Sorvice Loral Operator Number Time From CPA CX003 0145 HKG MAS MH682 0810 KCH PAA PA841 0950 SFO/HNL/GUM JAL JL712 1000 HLP SIA SQ211 1010 HLP GIA GA980 1030 HLP OIA GA908 1100 MES PAL PR501 1115 MNL KLM KL833 1150 AMS/ATH/ KHI/CMB RBA BI325 1155
      580 words
    • Article
      Lock icon The problems of copyright
      395 9 The Economist LONDON: Technology Is making the law of copyright Increasingly obsolete. A review of the whole subject from a committee chaired by Mr Justice Whitford suggests how the law should be updated. Among the technologies that are eroding the law are the increasing use of
      The Economist  -  395 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      196 9 Have you got your c<Moffliel97^7 BUKUMERAH? The complete filing cabinet on the Singapore business scene ALPHABETICAL INDEX CLASSIFIED TRADE OFFICIALS AND PUBLIC BODIES INFORMATION 0 1 IWBtttf WM DIRECTORY or SINGAPORE ir»T? g* fkasg* &J***£s£S£ It's the 1976/77 "Red Book" the office/library reference book covering the business scene in Singapore.
      196 words
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  • Article
    Lock icon Dutch nightmares of becoming another Britain
    904 10  -  By ERIK EKKER Financial Times News-Features THE DUTCH have Just emerged from their most serious labour dispute for 30 years, and some of them were so unnerved by the experience that they are wondering if this means Holland is about to become "another England."
    Financial Times News-Features  -  904 words
  • Article, Illustration
    Water heated by the sun for soft-drink factory
    541 10 A SOFT-DRINK factory near Canberra, Australia'* national capital, has begun using a solar water-heating system as part of its bottling process. The plant was installed by scientists from the Australian Commonwealth Scientific and Industrial Research Organization's Solar Energy Studies Unit at the
    541 words
  • Article, Illustration
    Banks tap the loan market
    1601 10  -  Cash on deposit has increased but concern has risen on how best to make use of these funds By NOORJAHAN KARIM CONTROVERSY Is going on with some financial experts arguing that Interest rates should be lowered to stimulate business activity. Others say the whole spectrum
    1,601 words
  • Article, Illustration
    Lock icon S. Lanka economic growth: Serendipity proves elusive
    1114 10  -  By DAVID HOUSEGO FT SRI LANKA has been luckless In development. In the 1960s It had governments which promoted Import substitution and encouraged foreign and local capital to Invest, but could not prevent the draining away of foreign exchange or the political agitation
    FT  -  1,114 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      186 10 by Judith Moorhouse and Dries Blitz Hamlyn Group, London. s» 1 9 r ft\ Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average collector. This myth Is perpetuated
      186 words
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  • Article
    Lock icon Australia rejects attempts to stop testimony
    299 11 UPI CANBERRA, Thurs. Australia has rejected Indonesian attempts yesterday to stop a senior public servant from giving evidence In the United States about alleged Indonesian atrocities in East Timor. Minister for Foreign Affairs, Andrew Peacock, gave an assurance that former Australian Consul In Dill,
    UPI  -  299 words
  • Article, Illustration
    Lock icon Six killed in first day of Indian voting
    334 11 UPI NEW DELHI, Thurs. At ieast six people were killed and dozens more injured in the first day of voting in India's parliamentary elections, officials reported today. Five of the deaths were reported in the eastern state of Bihar and the sixth
    UPI  -  334 words
  • Article
    Lock icon China overtakes Russia in goods exports to America
    624 11 NEW YORK, Thursday NYT AN AOORESSIVE export drive by Peking, sparked by exhibits at the Canton Trade Fair and other sales efforts, has put China squarely ahead of the Soviet Union among communist suppliers of manufactured goods to the United States. Final
    NYT  -  624 words
  • Article
    Changi airport fuel firm approves share issue at EGM
    495 11 CHANQI Airport Fueling and Hydrant Installation, the private company formed to supply fuel and oil products to the aviation Industry at Changl International Airport, yesterday approved at Its first extraordinary general meeting, a resolution to Issue and allot 7,500.017 shares of
    495 words
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    Lock icon Talboys warns: We may ban Japanese fishing boats unless...
    399 11 UPI Reuter WELLINGTON, Thurs. Japanese fishing fleets may lose access to New Zealand ports unless Tokyo Implements a long-term trade agreement reached In principle last year between the two countries, a local newspaper said today. The Dominion newspaper said Acting Prime
    UPI; Reuter  -  399 words
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    Lock icon Philippines doubles copra levy
    123 11 Reuter MANILA, Thurs. The Philippines has doubled the export levy on Copra producers to 00 pesos per 100 kilogrammes to boost the Coconut Stabilisation Fund which helps subsidise edible oil on the domestic market, a spokesman for the United Coconut Association of the Philippines (UCAP) said.
    Reuter  -  123 words
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    Lock icon US soy growers reject floor price plan
    325 11 UPI WASHINGTON, Thurs. A spokesman for soybean growers says they want no part of any international price floor agreements for their crop. Agriculture Secretary Bob Bergland earlier announced he would like to negotiate an agreement with Canada to put a floor under International
    UPI  -  325 words
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    Lock icon Zaire prepares to halt invasion
    383 11 UPI AP Reuter KINSHASA, Thurs. With planeloads of American military aid and Belgian arms. Zaire today planned to stem the elght-day-old invasion it has strongly suggested Is led by Soviet armed Cuban mercenaries with Moscow backing. In Washington, American Secretary of State Cyrus Vance told
    UPI; AP; Reuter  -  383 words
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    Lock icon Espino: Army can handle rebels
    269 11 Reuter MANILA, Thurs. Philippines armed forces chief General Romeo Espino said today the military was prepared for any contingency in southern Philippines where a ceasefire between government forces and Muslim rebels has been In effect since Dec 24. General Espino has been on an inspection
    Reuter  -  269 words
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    Rotary conference
    66 11 THE Rotary Club of Siagaporo-Waat will ¥bat the two-day Rotary laterMriioil'i 42ad aaaoal ooaferenoe la the Skaagri-La Hotel from tomorrow. Preeideat Shea re* will open the conference which will be attended by about 800 delegates from Rotary Club* around the world. The Minister far Social Affairs, Eacik Othmaa
    66 words
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    Lock icon To export or not, a difficult decision
    792 11  -  By TONY RALF UPI SOME of the world's richest and biggest uranium deposits have been discovered In Australia, but political wrangles and environmental issues have kept them In the ground for the past six years. Complex environmental issues such as "aboriginal land rights
    UPI  -  792 words
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      222 11 APPOINTMENTS An established U.S. based Company engaged in the manufacture of oilfield equipment has openings for ACCOUNTANTS Age: Above 26 years Qualifications: A recognised professional qualification in Accountancy. Experience: 2-5 years relevant experience in a supervisory position, preferably in a multi-national Company engaged in manufacturing activities. Duties: Responsible to the
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      420 11 Fa>i established French Manufacturing Company invites tions for the newly created position of:MANUFACTURING PROCESS SPECIALIST (MALE) RESPONSIBILITIES: To assist the production line Management to analyse, identify and solve production technical problems and related process control work. To coordinate with Engineering. Production and Quality Control Depts in the design, evaluation and
      420 words
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    Lock icon Liberal Hanoi guidelines give hope to US traders
    767 12 NYT HONOKONO, Thurs. Hanoi has begun distributing copies of surprisingly liberal new guidelines for foreign Investment In Vietnam to American businessmen, setting off hopes among some of a major market for American enterprise if President Carter removed the current embargo on US
    NYT; AP photo.  -  767 words
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    Lock icon Pledge to trace those listed as missing
    379 12 UPI HANOI, Thurs. Communist Vietnam pledged today to trace Americans still listed as missing In the Indochina war. At the same time, Deputy Foreign Minister Ngo Dlen said America has a commitment of national honour to aid Vietnam's post-war reconstruction. "Regarding Americans missing
    UPI  -  379 words
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    LONDON STOCKS
    679 12 LONDON, Thurs. The market moved higher, with the prospect of British Leyland workers returning to work on Monday helping sentiment. The continuing (all In short term Interest rates also prompted buying Interest, dealers said. At 3 p.m.. the Financial Times Index had risen six points to 434.0. Government
    679 words
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    Lock icon Russians likely to sell gold to cover trade deficit
    275 12 AP WASHINGTON, Thurs. The Soviet Union is expected to sell about 600 tonnes of gold on European gold markets in 1977 and 1978, in part to finance its trade deficit with the West, the US Central Intelligence Agency says. Additional amounts
    AP  -  275 words
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    Lock icon Japan bounces back with $1 bil
    202 12 Reuter TOKYO, Thurs. Japan's overall balance of payments swung around to a US$46O million (S)l.l billion) surplus in February after recording a deficit of $846 million the previous month, the Finance Ministry announced today. The turnaround followed the usual pattern for the first two
    Reuter  -  202 words
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    Lock icon Rhodesia to re-route chrome shipment
    382 12 AP SALISBURY, Thurs. Hard on the heels of the renewed United States ban on Rhodeslan chrome Imports, the Rhodeslan government has Introduced long standing contingency plans to re-route shipments of the strategic mineral to other countries Including the Soviet Union. "The repeal of the Byrd
    AP  -  382 words
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    S. AFRICA READY TO GIVE GUARANTEES
    454 12 WASHINGTON, Thurs. South Africa's Ambassador to the United States Roelof Botha said his country might be prepared to Slve guarantees that Rhoesia would move towards black majority rule In two years. Mr. Botha, who will shortly take up the post of South African Foreign
    454 words
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    No new refinery plans
    307 12 SHELL has no plans to build new refineries in Singapore in the near future. Instead, future Investments will be aimed at upgrading Its existing five refineries and petroleum products. This was stated yesterday by Mr. J.J. Qeraon, outgoing chairman and chief executive of Shell. He explained
    307 words
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    SPEED — THE ESSENCE OF AIR FREIGHTING
    760 12 SPEED THE ESSENCE OF AIR FREIGHTING THE future of air freight Is bright. In the years ahead, it Is likely that air freight will penetrate more deeply Into potential' markets and will substantially enlarge its bulk traffic. Continued technical developments In aircraft design have Increased payload capacities, range and speed,
    760 words
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    Preparing for the second stage of industrialisation
    556 12 THERE will be a rapidly evolving need to restructure Singapore's manufacturing sector to depend Increasingly more on highly trained workers making more sophisticated products, to prepare for the second stage of industrialisation. Mr. Ong Wee Hock, deputy divisional director of the Manpower and
    556 words
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    PARLIAMENT Bid to improve sugar deal with Aussies
    356 12 THE Sugar Industries of Singapore (SIS) Is now trying to discuss with Australia some Improvements In the terms of the contract which It signed for the provision of bulk sugar purchases for Singapore. The Minister of Finance Mr. Hon Sul Sen said
    356 words
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    DBS plans complex
    126 12 DEVELOPMENT Bank of Singapore has approached the Government to participate financially in the development of a $540 million complex of offices, shopping centres, convention and hotel facilities on the site of the former Raffles Institution at Bras Basah Road. But the government has expressed grave doubts about
    126 words
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    Hon: 'Efforts made to harmonise property rates
    146 12 THE Finance Minister, Mr. Hon Sul Sen, said in Parliament yesterday that the Property Tax Department and the Finance Ministry were trying to harmonise the rates of property tax from Its present variegated structure. Replying to questions, Mr. Hon said under the property
    146 words
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    Work permit holders
    78 12 THE Minister of State for Labour. Mr. Sla Kah Hul, said yesterday that work permit holders constitute less than 10 per cent of the approximately 870,400 employed persons in Singapore at the end of last month. Replying to a question raised by Mr. Ang Nam Plau in
    78 words
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      51 12 Ntm.a French restaurant that truly flatters your taste for the finest. In food, service and quiet entertainment Dine by candlelight on exquisite French fare And dance to soft music b\ The BeUedere Trio Come to Fhe Belvedere Singapore's French restaurant par excellence. 11 I Tilts month's special: Creole Buffet I
      51 words