The Business Times, 15 April 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, APRIL 15, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Call for steel talks
      32 1 Reuter FRANKFURT, Thurs. The International Metalworkers Federation (IMF) today called for an urgent international conference of trade unions, employers and governments to discuss the world steel crisis. Reuter.
      Reuter  -  32 words
    • Article
      Lock icon Bill to avert strike
      41 1 AP COPENHAGEN, Thurs. Prime Minister Anker Joergensen's minority social-democratic Government today gave Parliament 24 hours to ram through a bill designed to avert a nationwide labour conflict that could begin crippling Denmark by 2300 GMT tomorrow. AP
      AP  -  41 words
    • Article
      Lock icon China-Jordan ties
      48 1 Reuter HONGKONG, Thurs. China and Jordan have decided to establish diplomatic relations at ambassadorial level, the New China News Agency reported today. A joint communique quoted by the agency made clear that Jordan recognises the Peking Government as the sole Government representing the Chinese people. Reuter.
      Reuter  -  48 words
    • Article
      Lock icon Pak violence costs $490m
      33 1 Reuter KARACHI, Thurs. The widespread political violence in Pakistan during the past month has cost the national economy well over US$2OO million (***** million), banking sources said today. Reuter
      Reuter  -  33 words
    • Article
      Lock icon ADB interest rate
      37 1 Reuter MANILA, Thurs. The Asian Development Bank's interest rate on normal lending, now standing at 8.7 per cent, is unlikely to change In the near future, its president, Mr. Taroichi Yoshida. said today. Reuter
      Reuter  -  37 words
    • Article
      Lock icon Big Red camp seized
      35 1 Reuter PADANG BESAR, Thurs. Thai and Malaysian forces continuing joint operations against communist guerillas in southern Thailand today captured the biggest communist camp of their current campaign, it was announced here.
      Reuter  -  35 words
    • Article
      Selley leaves S'pore
      53 1 THE group vice-president of the J. Ray McDermott group in South-east Asia and Australia, Mr. Eric R. H. Selley, left Singapore yesterday "on business." The McDermott group was alleged In Washington to have given away about US$l.O3 million (552.53 million) in "questionable" payments to officials in 14
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    • Article
      Lock icon Dollar advances
      45 1 Reuter TOKYO, Thurs. The US dollar today continued its recovery against the yen in active trading on the Tokyo exchange market. The dollar for overnight delivery closed at 273.10, compared to 272.50 at the opening and 272.40 at yesterday's close, dealers said. Reuter.
      Reuter  -  45 words
    • Article
      Lock icon Fishing talks collapse
      36 1 Reuter MOSCOW. Thurs. Crucial Soviet-Japanese fishing talks collapsed today after the two sides failed to agree on how to chart a new Soviet fishing zone around four disputed islands, Japanese sources said. Reuter.
      Reuter  -  36 words
    • Article
      Lock icon Dow Jones
      42 1 UPI NEW YORK, Thurs. Dow Jones averages, based on first hour of trading on the New York Stock Exchange: 30 Indus 947.76, up 9.58; 20 transp 234.51, up 3.65; 15 utlls 109.15, up 0.96; 65 stocks 314.09, up 3.53. UPI.
      UPI  -  42 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      165 1 PRICES moved higher in moderate trading in the Stock Exchage of Singapore yesterday. The lowerpriced shares, in particular, found renewed support and accounted for the bulk of the gains. At the close, the Business Times index rose 3.80 points to 264.31 and the Straits Times Industrial index
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    • Article
      In Kuala Lumpur
      120 1 Rises Most active Bovts Sea SO 56' ,-r.oe General Lumber 206.000 $2 76 >08 Central Sugars 164,000 M Flour High Low SO.86 .06 149.000 Int. Wood Haw Par Q4 nnn SO 68 S5.75 $6 90 .06 05 .05 S. Lumber M Banking O.CBC. Total Turnover: 1.36 M
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  • Article
    Asean backs diesel project to the hilt
    1033 1  -  NO NEW PLANTS WILL BE ALLOWED By COLIN CHEE, RONNIE LIM ONCE the diesel engine project assigned to Singapore under the Asean Industrial complementary programme gets off the ground, no other diesel engine plant will be allowed to be set up in any
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  • Article
    Lock icon Three likely to be invited
    177 1 Reuter TOKYO, Thurs. A top Japanese Foreign Ministry official today said it was hiost likely that the Japanese, Australian and New Zealand Prime Ministers would be invited to Kuala Lumpur in August when Asean hold its second summit meeting. Deputy Foreign Minister Mr. Keisuke Arita
    Reuter  -  177 words
  • Article
    Dresdner to lead DM 100m issue
    220 1 DRESDNER Bank will lead the coming Singapore Government deutsche mark bond Issue, according to reliable banking sources. Referring to Business Times' report on Wednesday that Slhgapore will soon float a DM 100 million bond issue, the sources confirmed that Deutsche Bank was also running
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  • Article
    Lock icon Few acceptances for sterling offer?
    361 1 Reuter THE British offer to convert official sterling holdings of certain countries Into foreign currency bonds lapsed yesterday with first indications pointing to few acceptances. Attempts to find out if the Monetary Authority of Singapore or Bank Negara Malaysia have responded to the offers met
    Reuter  -  361 words
  • Article
    Talks on $100 mil hotel project
    141 1 A SlOO million hotel project is being discussed between Trust Houses Forte reputedly the world's largest hotel, leisure and catering company and two American banks and two Singapore companies, one of which has trading and property Interests. This was stated by Mr. Allan Kane,
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  • Article
    Lock icon Carter's tax rebate plan is off
    66 1 UPI WASHINGTON. Thurs. The White House said today that President Carter has dropped his proposal to give every American a US$5O (SSI23) tax rebate a major and popular feature of his $31 billion economic stimulus package, but one that was in trouble with Congress.
    UPI  -  66 words
  • Article
    Malaysia's six new deputy ministers
    158 1 KUALA LUMPUR, Thurs. Four parliamentary secretaries and two others have been appointed as deputy ministers, Prime Minister Datuk Hussein Onn announced today. The four parliamentary secretaries promoted are Senator Rafldah Aziz, appointed as Deputy Minister of Finance, Mr. Lew Sip Hon (Primary Industries), Mr. K.
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  • Article
    Lock icon 'EEC-ACP meeting ends successfully'
    162 1 AP SUVA (Fiji), Thurs. Nine European and 52 African, Caribbean and Pacific nations ended a trade and aid conference tonight, optimistic that the two-year-old convention binding them together is still in good shape. "We started off rather gloomily with fears of leaving this meeting without any
    AP  -  162 words
  • Article
    Lock icon SUGAR PRICE CLIMBS TO YEAR'S HIGH
    120 1 AP LONDON, Thurs. World sugar prices on the London Terminal market reached their highest level of the year today. London dealers said the main factor was a tight market in New York where traders have been at pains to find raw sugar for May
    AP  -  120 words
  • Article
    Steamers' profits running out of steam
    240 1 STRAITS Steamship skid yesterday that the continuing depressed conditions in the shipping and oil exploration industries brought its group pre-tax profit down by 24 per cent to 59.04 million last year. Group operating profit fell 17 per cent to $10.15 million despite rise of
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  • Article
    Lock icon Hutchison recovers
    66 1 Reuter HONGKONG, Thurs. Hutchison International achieved a big turnround to profit last year, with group net earnings of HK5122.8 million (5565.3 million). In the nine months to end--1975, it suffered a loss of $31.2 million. With the strong recovery, it is paying a first and final dividend of
    Reuter  -  66 words
  • Article
    Hussein gives his word to employers
    279 1 KUALA LUMPUR, Thurs. Datuk Hussein Onn has assured employers that any amendment to the labour laws would only be made after consulting all parties concerned. The Prime Minister told a delegation from the Malayan Council, of Employers' Organisations this morning that discussions on proposed
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  • Article
    KL tariff query for Peacock
    201 1 KUALA LUMPUR, Thurs. Trade and Industry Minister Datuk Abu Samah Is to bring up the Issue of high Australian tariff imports against Malaysia especially on textiles when he meets visiting Australian Foreign Minister Andrew Peacock here next week. Another issue will be Malaysia's efforts to
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  • Article
    KL to raise $600 m
    107 1 KUALA LUMPUR, Thurs. Malaysia is tapping the domestic market for Ms6oo million to be used in development projects. Four securities are being offered to subscribers: a three-year stock at 6.375 per cent maturing April 30 1980; a five-year stock at 6.625 per cent maturing April
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
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    • Advertisement
      Page 1 Advertisements Column 2
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    • Advertisement
      Page 1 Advertisements Column 3
      132 1 Singapore *****55 *****5 a K..C luhicj, *****0. *****6 Penang ***** Trust Sony for your video C! Wlth customary vision and foresight Sony pioneered video equipment. Today, Sony is one of the world's foremost manufacturers of integrated video equipment. Research and experiments are continuously carried out to bring you the most
      132 words
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  • OVERSEAS
    • Article
      Lock icon 250,000 IN STRIKE THREAT
      114 2 AP COPENHAGEN, Thurs. The Danish Government moved yesterday to avert a threatened strike of 250,000 workers due to start at midnight tomorrow. The Employers' Federation voted to reject a draft labour contract that was overwhelmingly approved by the trade union federation. This set in motion the
      AP  -  114 words
    • Article
      Lock icon Dockers aim at seven lines
      263 2 UPI NEW YORK, Thurs. Longshoremen this morning began a strike expected to hit seven major shipping firms in East and Gulf coast ports in a dispute over the handling of containerised cargo. The first indication of the strike came in the port of New York.
      UPI  -  263 words
    • Article
      Lock icon Business show
      55 2 UPI TOKYO, Thurs. The 52nd International Business Show featuring 10,000 of the latest business machines and equipment will be held on May 25-28, organisers reported yesterday. The show, sponsored by the Nippon Office Management Association and the Tokyo Chamber of Commerce and Industry, will take place In the
      UPI  -  55 words
    • Article, Illustration
      Lock icon Murray bid to avert a free-for-all
      319 2 Reuter LONDON, Thurs. Trades Union Congress general secretary Mr. Len Murray said he hopes agreement can be reached with the British Government to avoid a wage explosion after the current phase of wage restraint ends In July. Mr. Murray was speaking to reporters after
      Reuter  -  319 words
    • Article
      Lock icon US puts observers on Soviet trawlers
      166 2 Reuter WASHINGTON, Thurs. The United States has placed observer* on eight Soviet trawlers fishing off the Atlantic coast, the Commerce Department said yesterday. One American official boarded each ship on Monday, the department's National Marine Fisheries Service said. Four other Americans were on board
      Reuter  -  166 words
    • Article
      Lock icon Brown: SALT talks are far from dead
      457 2 Reuter WASHINGTON, Thurs. The Soviet-American arms control negotiations that stalled In Moscow last month have picked up momentum again with two days of talks at the White House. Soviet Ambassador Anatoly Uobkynin called on President Carter on Tuesday and was back at the
      Reuter  -  457 words
    • Article
      Lock icon Israelis plan aircraft plant in Mexico
      383 2 AP MEXICO CITY, Thurs. Israeli Aircraft Industries plans to Install a US$l5 million (5537.5 million) plant in Mexico to build Its short-takeoff-and-landlng Arava plane for distribution in North and Central America, a spokesman for the company said yesterday. lAI spokesman Mr. Marcos Katz said
      AP  -  383 words
    • Article
      Lock icon Curbs hit tuna fishing industry
      171 2 AP SAN DIEGO (California )i Thurs. The idled United States tuna fishing industry says It has already lost more than US$3O.6 million (5575.3 million) this year equal to $5,540 per fisherman. The spokesman claim It is too expensive to operate their boats under US Government
      AP  -  171 words
    • Article
      Lock icon 'Poor nations will borrow less'
      253 2 Reuter WASHINGTON, Thurs. Borrowing by the less developed nations to finance balance of payments deficits and build reserves is expected to decline to around US$2O billion (5549.2 billion) this year from an estimated $25 billion in 1976, an ExportImport Bank study said. Tnis will mean
      Reuter  -  253 words
    • Article, Illustration
      Lock icon No move to lower textile imports to US
      427 3 UPI WASHINGTON, Thurs. President Carter has not committed himself to lower the number of apparel and textile Imports despite a personal appeal from labour leader George Meany and a nationwide workers protest. Mr. Carter already has embittered labour by refusing to Impose
      UPI; UPI picture  -  427 words
    • Article
      NZ trade deficit
      49 3 WELLINGTON, Thurs. New Zealand's trade deficit narrowed to NZ5330.5 million (Ss7Bo million) In the second half of 1976 from $421 million In the year-ago period. Government statistician E.A. Harris said. Exports rose 46 per cent to $1.37 billion while imports rose 25.2 per cent 1.70 billion.
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    • Article
      Lock icon Business tax cuts plan
      65 3 Reuter NEW YORK, Thurs. New York City Mayor Abraham Beame Is proposing cuts of from five to 10 per cent In business taxes in his fiscal 1978 budget. City Hall sources said. The sources said the cuts would come from reductions in the city's commercial rent
      Reuter  -  65 words
    • Article
      Lock icon Carter energy plan provokes debate and disagreement from critics
      929 3 NYT WASHINGTON. Thurs. A week before It is made public. President Carter's national enfergy plan touted by Administration officials as nothing less than epochal already has begun to provoke disagreement and debate. From oil companies come don't-quote-me rumblings to the effect
      NYT  -  929 words
    • Article
      Lock icon 'Huge grain stockpiles can lead to a false sense of security'
      556 3 UPI AP WASHINGTON, Thurs. Carter Administration officials seeking to promote development of global grain reserve stockpiles have been instructed to resist proposals for massive reserve goals which could lead to "a false sense of security," government documents indicate. The
      UPI; AP  -  556 words
    • Article
      Lock icon US antiinflation move will not involve controls
      298 3 Reuter WASHINGTON. Thurs. Treasury Secretary Michael Blumenthal said the antiinflation plan President Carter is due to unveil tomorrow will not involve controls or coercion, even on a standby basis. He told the National Press Club nobody in the Administration believed controls would work.
      Reuter  -  298 words
    • Article
      Lock icon Tax rebate proposal will be withdrawn
      375 3 SAYS LOS ANGELES TIMES AP LOS ANGELES. Thurs. President Jimmy Carter will withdraw his proposal for a US$5O (Ssl2o) tax rebate for most Americans, the Los Angeles Times reported today. The newspaper said Mr. Carter would announce the decision later in the day, citing
      AP  -  375 words
    • Article
      Lock icon IMF to up interest charges on loans
      263 3 IMF to u p interest charges on loans AP Reuter WASHINGTON, Thurs. The International Monetary Fund said yesterday It will Increase Interest charges on loans to member countries by .375 per cent effective April 1. The new charges are 4.375 per cent on outstanding loans up to one year, increasing
      AP; Reuter  -  263 words
    • Article
      Lock icon New orders increase
      51 3 Reuter BONN, Thurs. New orders received by West German manufacturing Industry rose by 0.7 per cent In February over January, the Economics Ministry said. The ministry said changes in the way the figures are worked out still made the latest provisional order data subject to large uncertainties.
      Reuter  -  51 words
    • Article
      Lock icon Saudi Arabia bank sees favourable outlook for £
      365 3 Saudi Arabia bank sees favourable outlook for LONDON, Thurs. Reuter THE National Commercial Bank of Saudi Arabia Is taking a more favourable view of sterling following the British currency's recent exchange market stability. Mr. Mohammad Albatatl, deputy manager of the bank's international division, said. "For banks which, like ourselves, are
      Reuter  -  365 words
    • Article
      Lock icon Henry Ford to name his choice of a successor
      407 3 AP DEARBORN, (Michigan), Thurs. Henry Ford 11, who has run the Ford Motor Co. since 1945, is expected to name his choice of a successor today to the board of directors. And the name is expected for the first time in
      AP  -  407 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      284 2 Business Times I I > I iW* a money-saving bonus offer for all their advertisers Effective from now to September 30,1977 We have great news for all advertisers: From now to September 30, 1977, Business Times will offer advertisers a FREE additional insertion for every two insertions appearing in the
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      38 2 m TT TOU CP>N TR<£ IT Back Q&o PiU. i cph stond SUCH PIS CHPiPTtC fe 'foue suGGesroN TUnr CfJC o£tcweo Fflms K»©e« CURS wyxvtn IN rue GCgrt tg.pi T«xuc>( t>sßsna?oF'bB; is ujooaous < Vfeuwsuplo His G«2S IN IT.
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      314 2 THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on April 14 at Singapore airport. Maximum Temperature Associated Humidity Minimum Temperature Associated Humidity Hours of Sunshine Rainfall in Millimetres Total Rainfall for the Month Total Rainy Days for the Month 0 TV EE SINGAPORE 5 3.00 P.M. Opening
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      116 3 Introducing the IBM Copier 111 in Singapore High Speed 4,500 copies per hour. First copy speed 4.5 seconds. Subsequent copies 0.8 seconds each. Excellent Quality Quality copies from a wide range of originals and sizes onto many kinds of materials such as letterheads, coloured stocks and transparencies. 26% 35% Reduction
      116 words
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  • COMPANY NEWS
    • Article
      UIC to see record year
      323 4 UNITED Industrial Corporation's bouyant first half-year results, announced on Tuesday, seems to Indicate a strong possibility that the company may achieve Its best ever results In the current year ending July 31, 1977. For the six months ended Jan 31, 1977, pre-tax profits attributable to
      323 words
    • Article
      HME receives 90pc acceptances from all Three Sisters
      372 4 KUALA LUMPUR, Thurs. Harrisons Malaysian Estates, the company formed to effect the merger of the three plantation "sisters" Golden Hope, London Asiatic and Pataling, has now received acceptances of Its share exchange offer from holders of over 90 per cent of the
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    • COMPANY MEETINGS
    • Article
      DIVIDENDS ANNOUNCED
      638 4 Current Ex Date Total for ToUl for payment Date payable the year previous year Olympia Plywood 6%TE Mar 29 Apr 15 6%TE Nil Hume (F.f.) 5%I Mar 22 Apr IS 5%I 10% Batu Lintang 5%I Mar 29 Apr 18 5%I 7.5% Austral Enterp. 20% I Mar 31 Apr
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    • Article
      Higher costs cut into PICA'S profit
      482 4 HIGHER operational costs cut into the net profit margins of Private Investment Company for Asia last year resulting in a 9.1 per cent slide in net earnings to US$l.29 million. President, Mr. Robert Henrey says in his annual report that "the most important factor
      482 words
    • Article
      STC reports interim loss
      244 4 THE Singapore Traction Company (1964 )has reported a loss of $27,239 for the first six months ended March 31, 1977 after charging $7,500 for professional fees paid In connection wltn its proposed reconstruction. This compares with its loss of $24,950 In the previous half-year. The company's
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    • Article
      UEM improves by M$7 mil
      212 4 UNITED Engineers (Malaysia) preliminary figures showed the group made an operating profit of M 56.67 million for the year ended Dec 31, 1976, up 18.5 per cent from 1975's figure. However, after Interest charges of $3.76 million and provision for taxation of 51.54 million, net
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    • Article
      Prima options open today
      139 4 THE Stock Exchange of Singapore has pitched the striking prices of the three option series for Prima (Flour Mills), which will open for trading this morning, at five per cent below Its last share price. It set the striking prices for June, September and December at
      139 words
    • Article
      UEC granted 3-year export enterprise certificate
      121 4 UNIVERSAL Electronics Corporation, the main subsidiary of the Industrial Electronics and Engineering (lEE) group has been granted a three-year export enterprise certificate. lEE savs In a statement that "substantial benefit will accrue to the group" because the subsidiary contributes about 70 per cent to
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    • Article
      CHICAGO BOARD OPTIONS
      1532 4 On April 13 TRADING In options on the Chicago Board Options Exchange came to 132,671 contracts on Wednesday, compared to 120,048 on Tuesday. OPTION APL JLY OCT STOCK Alcoa Alcoa Am Tel Am Tel Am Tel Am Tel Atl R Atl R Atl R Avon Avon Avon
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    • Latest results
      • Article
        KENT (FMS) TIN DREDGING
        29 4 Pre-tax profit M 5793,574 ($55,600) for the year ended Dec 31, 1976. Tax $191,876 ($208,000) leaving after-tax profit $601,698 ($347,600). Dividend 150 per cent (50).
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    • Article
      Lock icon Wall Streeters play guessing game
      1007 4  -  ENERGY PLAN DUE FOR UNVEILING By VARTANIG VARTAN NYT TRYING to anticipate President Carter s energy programme, due for unveiling on April 20, Wall Streeters have been busily trying to pick the stocks that will win in the new policy. But it all adds up
      NYT  -  1,007 words
    • Article
      Lock icon Mutual fund holders now have more say over their investments
      566 4 New York: NYT DURING the bear market of the early 1970'5, a visitor asked managers of a mutual fund who had lost 25 per cent of shareholders' capital in the prior year why they remained fully invested since stock market
      NYT  -  566 words
    • Article
      Lock icon Taiyo Kiso petitions for bankruptcy
      170 4 UPI TOKYO, Thurs. Talyo Foundation (Talyo Klso) petitioned the Tokyo district court for bankruptcy yesterday In the largest failure of a construction company In Japan this year. Credit researches estimated the firm's liabilities at US$4O million (11 billion yen). It was capitalised at $351,000. The
      UPI  -  170 words
    • Article
      Lock icon Curacao
      43 4 Reuter LONDON, Thurs. The Bank of Tokyo (Curacao) Holding will raise US$5O million through a seven year Eurobond issue with an expected coupon of 5 3/4 per cent lead manager S.G. Warburg confirmed. Final term* will be settled on April 21. Reuter.
      Reuter  -  43 words
  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      327 4 NOTICES r flprpiV Straits Steamship Company Limited (Incorporated in Singapore) Hte mjjjK Preliminary Announcement ot Results for the year ended 31st December 1976 The audited results of the Group for the year ended 31st December, 1976 are as follows: Group sales, which do not Include the associated companies, were 9%
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Dow Chemical seeks to build Mexican plants
      228 5 Reuter NEW YORK, Thurs. Dow Chemical is seeking permission to build plants in Mexico following the change in the economic climate since president Mr Jose Lopez Portlllo took office from Mr. Luis Echeverla Alvarez, Dow Latin America area president Mr. Dave W. Schornsteln
      Reuter  -  228 words
    • Article
      Lock icon Denmark Eurobond
      80 5 Reuter FRANKFURT. Thurs Denmark plans to raise 200 million marks through a Eurobond coming to market on April 18, bond market sources said. Conditions for the bond, being led by Westdeutsche Landesbank Girozentrale. have not yet been fixed, but the issue may be in two tranches of different
      Reuter  -  80 words
    • Article
      Lock icon Sears' sales forecast
      310 5 Reuter CHICAGO, Thurs. Sears, Roebuck expects its general merchandise sales to continue to outperform industry levels, senior vice president for finance Mr. Jack F. Kincannon told security analysts. From August 1976 to February 1977, sales for Sears rose 10.7 per cent while general merchandise sales for the
      Reuter  -  310 words
    • Article
      Lock icon Higher costs hit Caterpillar
      156 5 Reuter PEORIA, 111., Thurs. Caterpillar Tractor said first quarter earnings were lower than the year ago period because of higher wages and employee benefits, higher material costs, additional depreciation and interest expenses and higher taxes under the Tax Reform Act of 1976. The company reported earnings
      Reuter  -  156 words
    • Article
      Lock icon Woodside-Burmah reports N. Rankin gas test
      117 5 Reuter MELBOURNE. Thurs. Woodside-Burmah Oil said the just completed No. 2 production test on the North Rankin No. 5 well, offshore Western Australia. flowed gas at a maximum rate of 38 million cubic feet a 'lav thn-ugh a j/4 inch choke No. 3 test
      Reuter  -  117 words
    • Article
      Lock icon Corco's meet adjourned
      106 5 Reuter SAN JUAN. Puerto Rico, Thurs. A meeting of Commonwealth Oil Co (Corco) executives and Puerto Rico government officials adjourned without any decisions being reached on how r to solve the financial problems of the company, a Corco spokesman said. The meeting was also attended by representatives
      Reuter  -  106 words
    • Article
      Lock icon Toyota exports soar
      113 5 Reuter TOKYO. Thurs. Toyota Motor Sales said Its vehicle exports in fiscal 1976 ended last month rose 30 per cent to an all-time high of 1.24 million units from the preceding year due to a sharp rise in sales in the US and Saudi Arabia It added
      Reuter  -  113 words
    • Article
      Lock icon Pan Am outlook
      84 5 Reuter NEW YORK. Thurs Pan American World Airways says its outlook depends on a number of uncertainties, including concern about fares and the question of regulatory reform for the industry. The company says in the annual report its future is still heavily dependent on government actions, particularly
      Reuter  -  84 words
    • Article
      Lock icon Railroad results not pleasing
      630 5 Reuter CHICAGO. Thurs. First quarter earnings reports of many railroad companies, reflecting the effect of severe winter weather and 'comparison with a strong performance a year earlier, are not likely to make pleasant reading for investors, analysts say. Already Chessie System has reported a loss, and
      Reuter  -  630 words
    • Article
      Lock icon RCA performs well despite management change
      972 5  -  By ART GARCIA FT RCA CORPORATION, the giant global communications concern whose diversified operations Include Hertz Auto Rental. British food companies and Random House publishing, had a memorable 1976. The 61 per cent Increase In earnings to U*****.4 million was impressive, and so was
      FT  -  972 words
    • Article
      Lock icon IBM earnings disappoint
      189 5 Reuter NEW YORK. Thurs. International Business Machines reported first quarter earnings of U*****.3 million or $3 82 a share, up from $544.4 million or $3.63 a share previously. Gross Income totalled $4.09 billion Including $1.37 billion in sales and $2 71 billion in rentals and services. In
      Reuter  -  189 words
    • Article
      Lock icon Owens-Illinois suffers first quarter setback
      123 5 Reuter TOLEDO. Ohio. Thurs. First quarter net earnings at Owens-Illinois tumbled 43 per cent to 60 US cents ($1.07) a share or $17 89 million from $31 6 million a year ago. The setback was Incurred on a slight increase in sales to $679.3 million
      Reuter  -  123 words
    • Article
      Lock icon W'house Electric profit increases
      217 5 Reuter NEW YORK. Thurs. Westlnghouse Electric said first quarter earnings rose to U5553.2 million or 61 cents from $47.2 million or 54 cents previously Sales, however, dropped from $1 44 billion to SI 42 billion 1977 net earnings Includes the effect of the settlement of a
      Reuter  -  217 words
    • Article
      Lock icon Falconbridge Nickel
      87 5 Reuter TORONTO.Thurs.- Falconbridge Nickel Mines president Mr. M A Cooper said the company may reactivate all underground mines in 1977 which have been closed temporarily because of anticipated increased demand for nickel in 1978-79. Mr Cooper said expenditure for mines and plant for 1977 totals US$75 million. He
      Reuter  -  87 words
    • Article
      U. Foods
      37 5 MILWAUKEE. Thurs. Universal Foods said Its directors have raised the quarterly dividend to 28 US cents from 25 cents. The dividend will be paid on May 10 to stockholders on Its records on April 28.
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    • Article
      Lock icon GM drops rotary engines scheme
      683 5 AP Reuter DETROIT, Thurs.— General Motors' disclosure that It has "discontinued research and development" of the Wankel rotary comes seven years and an estimated US$lOO million after the giant US automaker first began work on what was hailed at the time as a revolution in
      AP; Reuter  -  683 words
    • Article
      Lock icon Montedison down
      88 5 Reuter MILAN, Thurs. Montedison suffered a group loss of 172 billion lire on a turnover of 4.82 trillion lire In 1976. This compares with a group loss of 163 billion lire on revenue of 3.54 trillion lire in 1975. Group depreciation ac- counted for 300 billion lire against
      Reuter  -  88 words
    • Article
      Lock icon Babcock's sad goodbye
      1207 5  -  HERBERT MORRIS BATTLE By Kenneth Gooding FT BABCOCK and Wilcox has sadly withdrawn from the battle for Herbert Morris, collecting, with a deep sigh, some t2.1 million of profit on the sale of shares It bought only seven months ago. Babcock wanted Morris. not the cash. It
      FT  -  1,207 words
    • Article
      Lock icon Arco unit receives award
      90 5 Reuter LOS ANGELES. Thurs Atlantic Richfield said its subsidiary Libyan American Oil received an arbitration award of US$BO million against the Libyan Arab Republic. The company aid the award stems from the confiscation without compensation by Libya in September 1973, and February 1974 of Libyan America's
      Reuter  -  90 words
    • Article
      Lock icon Alcan Aluminium
      90 5 Reuter MONTREAL. Thurs. Alcan Aluminium said proposed amendments to the Quebec Watercourses Act could increase the cost of generating electric power by C 56.3 million in the first full year. Finance Minister Mr. Jacques Parlzeau proposed raising rates paid by private electricity producers to the government to 50
      Reuter  -  90 words
    • Article
      Lock icon UK bonds
      38 5 Reuter LONDON Thurs. -The coupon on the one year UK local authority honds has been raised to 10 per cent from 9 T per cent last week and the price maintained at par. dealers said. Reu-
      Reuter  -  38 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      106 5 *2 *3 u u" wmM 4ntmm l, .a PR//AT. "4 C4RER4 SUPER CH/lIRS. LUXURY FOR THE OFFICE, Carera The super chairs from Diethelm. Unique Exciting Comfortable. And elegant wk ""z. Inspired by designs that defy dating In materials that lift And enlighten m Four sizes And a great range of
      106 words
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  • Article
    Share Information Service
    2130 6 Gr'» Gr'» 1977 Last div Div y'ld Net Vol Day High Low Company Sale +or- c'vr P/E cow) High bow SECTION ONE INDUSTRIALS 146 136 Acma 144 +6 12.ON 1.1 8.3 7.2 l 144 144 133 127 Acma A 131 +1 12.ON 1.1 9.1 6.6 l 131
    2,130 words
  • Article
    Transactions in Singapore
    1081 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 lots of 1000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "Sett Big Board
    1,081 words
  • Article
    In Kuala Lumpur
    1335 6 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown In brackets In lots of 1,000 units unless otherwise specified INDUSTRIALS Acma (1.428) (1) 142. Laytap* (0 408 0.485). Ajinemoto (2 02S)
    1,335 words
  • Article
    Stock options
    145 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer price* and business done yesterday, with the number of options traded shown in brackets. D.B.S. (June 3.90) (0.095) (Sept $3.60) (0.208 0.305) (Dec $3.60) (0.308 0.425) Inchcape (June $2.40)
    145 words
  • Article
    Unit trusts
    174 6 SINGAPORE IWT TRUST INCOME BOND I NIT (Maiuim' price* for Apr IS) (I urrenl prices 1 The Commerce 1.74 184 INCOME BOND 1 04 1.10 The Saving Fund 0.90 0 95xd M AR A Bl .MIPlTRA FI ND S pore Prog Fund 0 80 0.85 (Managers' prices for
    174 words
  • Article
    Corporate bonds
    181 6 B O T 8 1/2% 1981 (100,000) (1038 103 J «S) D B S 8 1/2% 1982 (100.000) (IOO'.B 100 3 45) DBS Converts 6 1/2% 1991 (100.000) (97U8 98S) El 89% 1982 (100.000) (103' jB 104'«S) E I B 8 1/4% 1983 (100,000) (100 3 «B KXP«S)
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  • Article
    Domestic govt bonds
    101 6 5 1/2% 15/4/78 (250,000) (101.578 101 675) 5 1/4% 15/7/78 (250,000) (101 508 i01.555)(3)101.53 1/2% 15/8/78 (250,000) (103.10B) 7% 1/7/79 250.000) (104.758) 5 1/2% 1/10/77-79 (250,000) (101.528 101.565) 5 1/4% 15/10/79 (250,000) (101 158 101.255) 6 3/4% 15/6/80 (250,000) (103 30B)(2)103.45 6 3/4% 1/12/80 (250.000) (103 10B)
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      Page 6 Advertisements Column 1
      209 6 -••a**' ~o^Wt *1 *#B#* 1 Aw'-wcx*!* v 'Is V V mm i 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 of Government, workers and employers. A substantial part of the
      209 words
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  • Article
    Shares move higher
    556 7 SHARES continued to rule steady in moderate trading at the Stock Exchange of Singapore yesterday. During the morning session, some buying orders carried forward from overnight helped to boost market sentiment. This was followed by a brief bout of profit-taking, which was well absorbed. In the afternoon,
    556 words
  • Article
    Steady trading in KL market
    448 7 STEADIER conditions prevailed in the Kuala Lumpur Stock Exchange yesterday. Trading was muie active compared with the near idle conditions on Wednesday when it slowed to a trickle following a breakdown in the communication facilities between the exchange and most of its member firms. Lower-priced
    448 words
  • Article
    Eurobond plan
    61 7 DUESSELDORF. Thurs. The Norwegian Mortgage Association for Industry and Trade (Norges Hypotekforening for Naerengslivet of Oslo) plans a 50 million mark 10-year Eurobond, probably at 7'« per cent, a spokesman for lead manager Westdeutsche Landesbank Glrozentrale said. The spokesman said pricing will be fixed next week. The issue
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1199 7 NEW YORK: The stock market on Wednesday successfully fought back selling pressure In the wake of a three-day advance and finished slightly higher. The turnaround came after Treasury Secretary Michael Blumenthal assured a national Press Club audience the Carter administration's antl-lnflatlon programme does not envisage any kind of
      1,199 words
    • Article
      Brussels
      163 7 BRUSSELS: The market was mostly lower In very quiet trading, dealers said on Wednesday Sofina rose following higher profits. Hoboken, Clabeco, I'obepa Compagnie Bruxellei Lambert were also higher Falls Included Societe Generale, Aaturienne, Sidro, Union Mintere. FN, Intercom. Cockerill. ACEC, UCB Gevaert and Gb-Inno-Bm. Foreign stocks were mostly higher,
      163 words
    • Article
      Amsterdam
      299 7 AMSTERDAM: Shares advanced over a broad front with gains in Dutch Internationals led by Hoogovena and Philips, but Unilever finished unchanged, dealers said on Wednesday. Gains elsewhere, were headed by Pakhoed. Leaders to decline against the trend were most shippings and Fokker. OCE fell on Its rights Issue announcement.
      299 words
    • Article
      Hongkong
      430 7 HONGKONG: The market closed mixed to lower in moderate trading with Hutchison falling 10 to 3.275 ahead of its final results due in the afternoon, dealers said on Thursday. The Hang Seng index dropped 1.16 points to close at 434.40 points. Among other blue chips. Jardine Matheson lost 10
      430 words
    • Article
      Paris
      357 7 PARIS. The market firmed on the 0.125 per cent fall In call money to 9.125 per cent and the strong performance of Wall Street, dealers said on Wednesday. Metals were lower oils and chemicals irregular. Au Printemps, which confirmed a 1976 consolidated loss on Tuesday, rose nearly four per
      357 words
    • Article
      Toronto
      319 7 TORONTO: Stocks closed higher on Wednesday, almost recouping mld-sesslon losses In light trading, with the composite Index up 14 points and advances leading declines 198 to 193 Vulcan Industrial Packaging fell 2-1/2 to 17-1/4. WalkerGooderham A eased 3/4 to 27.Dome Pete slipped 5/8 to 425/8 and Wardair lost 15
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    • Article
      Milan
      170 7 MILAN: The market closed Irregularly lower in thin trading, dealers said on Wednesday Sentiment continued rather cautious. Leading industrials ruled narrowly mixed, with Fiat. Olivetti privileged and Anic showing gains while both Pirelli, Olivetti ordinary, Snia Viscosa lost ground as did Montedison on 1976 results announcement and Generate Immobiliare.
      170 words
    • Article
      Jo'burg
      346 7 JOHANNESBURG: Gold shares firmed in a quiet but otherwise steady market, dealers said on Wednesday Among heavyweights. Randfontein gained 40 cents to 3825, and Fregult 50 cents to 1800 Harmony rose 28 cents to 593. Financial minings were generally quiet. De Beer* was one cent higher at 411. Industrials
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    • Article
      Zurich
      284 7 ZURICH: The market generally closed slightly higher, drawing support from the recovery on Wall Street, dealers said on Wednesday. In otherwise little changed leading banks. Leu continued Its upward trend. Financials ruled very steady, including recently weak Uaefo, which Is considering restructuring measures. In generally very steady Industrials. Nettle
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    • Article
      Frankfurt
      318 7 FRANKFURT: The market continued firmer In lively trading with gains of up to four marks, dealers said on Wednesday. Leading banks, chemicals and autos closed between two and four marks higher. In stores, Horten, Karatadt and Kaufhof mainly rose between 4.20 and 5.70 marks. In higher electrlcals. AEG advanced
      318 words
    • Article
      Tokyo
      505 7 TOKYO: Prices closed higher with domestic Industry shares advancing on growing anticipation of a further cut in discount rate, dealers said on Thursday. The Dow Jones average rose 8 53 to close at 5.***** with volume 300 million shares The new index closed at 374.28, up 0.78. Foods, chemicals,
      505 words
    • Article
      Manila
      163 7 MANILA: The market was mixed with mines, Irregular, oils lower and commercials slightly higher, dealers said on Thursday Total turnover rose slightly to 2.30 million pesos compared with Wednesday's 2.13 million Gainers were Atlas Con A and B. Philez A, Phil Overseas and San Miguel A but Picop A
      163 words
    • Article
      Sydney
      459 7 SYDNEY: The market closed mixed, with late buying support taking some sectors off their lows, dealers said on Thursday. The Sydney All-ordlnarles index dropped 0.16 point to close at 434.72 points. BHP rose four cent* to 6.54 after an early fall, while Hooker lost a cent to 50 cents.
      459 words
    • Article
      Bangkok
      94 7 APR 14 Bahts Asia Fibre 193 7 Bangkok Bank 329 12 Bangkok Invest 199 -2 Bangkok-Metro-politan Bank Bala 451 ♦2 BerllJucker 260 -11 Charoong Thai Wire 190 4 Dumex Duslt Thani Faber Merlin First Trust Indo-Thai Industrial Finance Corp I21S 'If J And J Ho 294 R Jdlaprallian Cement
      94 words
    • Article
      Indices
      68 7 FINANCIAL TIMES INDUSTRIALS Wednesday 417.8 Tuesday 407 9 Week ago 400 5 DOW JONES AVERAGE INDUSTRIALS Wednesday 938.18 Tuesday 937.16 Week ago 914.73 LONDON DOLLAK PREMIUM Wednesday 121* to 121*4 Tuesday 119'; to 120 H.K. HANG SENG Wednesday 435 56 Tuesday 430.43 Week ago 428.07 SYDNEY INDUSTRIALS Wednesday 353.43
      68 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      176 7 Confront Singapore's decision makers in Business limes For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      374 8 THE Singapore rubber market yesterday opened 1.50 cents higher following steadier London advices, but fell back on sporadic profit-taking, dealers said. Towards the morning close freer offering of nearbys and forwards and lack of buying support caused prices to retreat further. Volume was fair. The
      374 words
    • Article
      Closing prices
      30 8 Rubber: April 14 Singapore: May 202.25 cts (down 0.25 ct.) Malaysia: May 204.00 cts (down 0.50 ct.) Tin: $1,450.00 (up $24.00) Official offering: 251 tonnes (up 61 tonnes)
      30 words
    • Article
      Straits tin
      157 8 THE Straits tin price in Penang yesterday was up $24.00 to $1,450.00 per picul on an official offering up 61 tonnes to 251 tonnes. In LONDON yesterday morning tin gained around 147 in both contracts. Prices moved up in the premarket on the further advance at Penang. The
      157 words
    • Article
      Palm oil
      562 8 THE following Plam 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 Prev. Malaysia 5H ffa bulk JueJIy 655 sir 642 50 sir Sumatra 5% Apl unch 650 pd May 662 50
      562 words
    • Article
      SSR and SMR
      119 8 May J uae R.A.S. (Cui rrent Mth) (Forw ■rd Mtfc) Buyer* Seller* Buyer* Seller* (cent* per kg) (centi i p«r k« SSR 20 (1-ton Pallet) 195 00 196 00N 196 00 197 00N SSR50 (1-ton Pallet) 193 00 194 00N 194 00 195 00N M.R.E.L.B. SMR 5CV
      119 words
    • Article
      Produce prices
      296 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICL'L YESTERDAY. Coconut Oil: Bulk $110 sellers, old drum SI 15 sellers, new drum *120 sellers. Copra Mixed (loose) UK/Cont. $72 buyers. Pepper Muntok ASTA white f o b. 100% NLW $405 sellers. Sarawak white f ob 96% NLW $385
      296 words
    • Article
      Zinc
      71 8 LONDON. Thurs. Zinc rose by mostly £3 per tonne in the morning. In the pre-market, prices were boosted by the movement in copper and Three Months rose to £402 at one stage. But profit-taking and some hedge selling pared gains and modest Ring dealings were conducted at £399. Sales
      71 words
    • Article
      Gold
      383 8 IN the Singapore gold market yesterday, the kllobar was thinly dealt In the range of 5512.100 to 5512,125. The loco London gold opened at US$l5l.BO/152.30 and drifted down to close at U*****.50/152.00 on small scale profit-taking. The London morning fix was U*****.20 unchanged from the previous fix. Source: Singmas
      383 words
    • Article
      Lead
      102 8 LONDON, Thurs. Lead advanced by £7.50 for Cash and £7 for Three Months In the morning. The rally In copper and tin encouraged some fresh buying which pushed Three Months up to £394 In the pre-market. The higher levels were not maintained, however, and values were shaded by profit-taking
      102 words
    • Article
      Rice
      219 8 BANGKOK, Thurs. Indicative prices quoted for rice are: US dollars per tonne fob basis Bangkok White Rice 100 per cent Ist class 286 100 per cent 2nd 289 100 per cent 3rd 264 5 per cent 254 10 per cent 233 20 per cent 230 25 per cent 227
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    • Article
      Coffee
      284 8 LONDON, Thurs. Robusta futures ended the opening call fully steady after initial easiness In the near positions. Gains from last night were £25 to £65 per tonne. Volume was 252 lots. Dealers said the main factor behind the rise was unconfirmed reports that Colombia had Increased coffee prices. This
      284 words
    • Article
      Soybean
      239 8 CHICAGO, Wed. Soybean futures closed with losses of as much as the 30 cent a bushel limit at the end of a hectic session in which prices collapsed after advancing as much as the 30 cent maximum. Final prices reflected 30 cent losses in all old crop positions and
      239 words
    • Article
      Wheat
      127 8 CHICAGO, Wed. Wheat futures followed the trends in the soybean complex, losing early gains and posting losses in a late selloff. Prices were down four to 2 1/2 cents a bushel at the close and were Just above the day's lows. Early speculative buying in response to the strength
      127 words
    • Article
      Sugar
      183 8 LONDON, Thurs. Sugar futures opened steady on follow-through buying from yesterday's uptrend but best levels were pared by trade selling. At end opening call, values were £1.30 to £0.90 above yesterday afternoon levels. Sales totalled 1,797 lots. Market sources said sentiment was aided by the price of 10.30 cents
      183 words
    • Article
      Silver
      159 8 LONDON. Thurs. Silver finished with losses of 1.1 to 0.4 pence in the morning. Lower initial pre-market values reflected the late trend at New York, dealers said. But prices quickly rallied In sympathy with base metals with Three Months trading from 284 up to 286 pence. Profit-taking in the
      159 words
    • Article
      Copper
      312 8 LONDON, Thurs. Copper wirebars rose by £4 for Cash and £4.50 for Three Months in the morning. Dealers said early firmness reflected news of a strike at the Canadian Copper Refiners Ltd plant in Montreal East and fresh buying and covering took Three Months from £870 to £884 In
      312 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      583 8 YESTERDAY'S forex market saw the Japanese yen holding steady at higher levels, with dealers keeping on the safe side. Opening at the yen 273.20 level against the US dollar, the yen was traded down to 272.80 by Tokyo's closing. Dealers said the market was generally sluggish with little speculative
      583 words
    • Article
      Asian $ rates
      163 8 Asian rates ASIAN currency deposit Interbank rates as at close on April 14 US DoUan(9»*t> Offer BM 7 days 47/8 43/4 1 mth 5 4 7/8 2 mths 51/8 5 3 mths 5 3/18 51/16 8 mths 57/18 5 5/16 9 mths 53/4 55/8 12 mths 8 5 7/8 Sw.
      163 words
    • Article
      Discount
      47 8 RANGE of prices offered by discount houses on April 14 Overnight 2 to 3% Call deposit 3S Cloaiaa 3-month Buy Hellinf Treasury bills 3 27/8 3-Month Bank bills 4 37/8 3-Month CD 4 5/16 4 3/16 6-Month CD 41/2 4 3/8 Source: National Discount Co Ltd
      47 words
    • Article
      Euro $ rates
      168 8 Euro rates LONDON, Thurs. Period Eurodollar deposits up to five months opened higher reflecting the loss of the Friday dealing technicality while short dates opened unchanged from yesterday's final levels, dealers said. The recent quiet rrend continued, they added. Initial gains in periods ranged from around 1/4 In One Month
      168 words
    • Article
      London
      250 8 LONDON, Thurs. The dollar opened slightly weaker on overnight levels as a partial recovery late yesterday was largely erased on small selling, dealers said. The US unit was quoted around 2.3635/45 marks compared with 2.3685/95 overnight, at 2.5135/45. Swiss francs after 2.5180/90 and at 2.4585/600 guilders against 2.4590/4605. Sterling
      250 words
    • Article
      New York
      159 8 NEW YORK, Wed. The dollar closed weaker here after the move Into strong European currencies continued. dealers said An increasing number of dealers here believe the sharp gains at the expense of the dollar reflect the investment of unusually large West Asian oil producer revenues. The yen dropped
      159 words
    • Article
      Hongkong
      150 8 HONGKONG, Thurs. The US dollar closed at HK54.6350/70, above yesterday's $4.6310/30 close but below the morning high of $4.6370/90, with some banks' interest rate cuts taking effect today, dealers said. They said the cuts strengthened the US unit, but this was to some extent counteracted by its weakness against
      150 words
    • Article
      Tokyo
      83 8 TOKYO, Thurs. The US dollar for overnight delivery continued to firm In active trading, closing at 273.10 yen compared with 272.50 at the opening and 272.40 at yesterday's close, dealers said. The US currency rose on import covering to meet settlement needs for oil Im- ports and sustained buying
      83 words
    • Article
      Frankfurt
      40 8 FRANKFURT exchanges opening quotes on April 14. US 2.3630/40 2.3648/56) Can 2.2498/ 2508 UK 4.055/070 Neth 96.07/17 Switz 93.95/ 94.05 Italy 2.658/ 673 France 47.50/65 Norw 44.79/ 85 Belg com 6.517/ 532 Belg fin 6.509/ 519 Japan 0.8660/ 75
      40 words
    • Article
      Minimum lending rates (in %)
      60 8 Minimum lending rates (in ACBC 6 3 Algemene Bank Citibank fi 3 Bangkok Bank 7 HSBC 7 Bank of America 6* Indosuez Bank of China 7 Malayan Banking 6 3 Bank of Tokyo 6 V Mitsui Bank Bank Negara OCBC 6 J Indonesia 7 OUB Chartered Bank 6*4 UCB 7
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    • Article
      Australia/NZ
      50 8 AUSTRALIA/NZ exchanges quoted on April 14 Australia: Sterling 0 6487'0.6417 US dlr 1.1119/1.1071 Ninety-day air mall buying rates: Sterling 0.6692 US dlrs 1.1373 Ninety-day forward buying rates: Sterling 0.6491 US dlrs 1.1006 New Zealand: Sterling 0 5617/0.5586 US dlr 0.9706/0.9606 Ninety-day forward rate: Sterling 0 5844 US dlr 0.9887
      50 words
    • Article
      Zurich
      42 8 ZURICH exchanges closing quotes on April 13 US 2.5152-5162 UK 4.3230-3260 Can 2.3895-3915 W Germ 106 20-29 Neth 102.08-20 France 50.60-64 Belg 6.92Vj-93V» Denm 42.13-17 Norw 47.65-68 Swed 57.96-58.00 Italy 0.2833-2836 Austria 14.95-98 Port 6.49-51 Spain 3.65-3/4-66-1/2 Arg 0.70-85 Japan 0.92-1/4-92-3/4
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    • Article
      Eurobond prices
      353 8 LONDON. Thurs. Straight bonds were basically unchanged in small turnover, dealers said. Recent new issues help yesterday's firm levels with gains of 1/4 point in places. Guilder bonds tended 1/2 point higher in a generally firm market. Mark bonds were relatively active with a firm undertone but most
      353 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      248 8 3u2i(*A.'s "AS I WAS PASSING" is now compiled into a book $4.5° All those articles that you've meant to read, but didn't have time for, but which you promised Vourself you'd cut out and keep, and missed, because the papers had been used to wrap up things, or had been
      248 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article, Illustration
      Lock icon American space programme grinding to a halt...
      806 9  -  By RICHARD LYONS NYT THE bustling activity at the new National Air and Space Museum, whose four hectares of satellites and planes have become the most popular tourist attraction In town, contrasts sharply with the almost melancholy atmosphere at the National Aeronautics and
      NYT  -  806 words
    • Article
      Lock icon New Zealand to assembly Subaru cars
      102 9 Reuter TOKYO, Thurs. Fuji Heavy Industries Ltd said its 1600 cc Subaru cars will be assembled In New Zealand on a knockdown basis from July. It said It concluded technical and marketing tleup contracts with Motor Holdings Ltd last September for assembly for local
      Reuter  -  102 words
    • Article, Illustration
      IN PORT
      383 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Bunga Angsana (1100 after Oriental Crown) 33/34. Caracas Maru (1600) 45 Dona Montserrat (1930 after Crikvenicka) 44 King Dragon (1500 after King Pearl) (Subject freeboard) 25 Perak (1230 after Perils) 20 West SBSIIKB Barge) (2359) 37/38 Sumber Tunas V (after King Sun) (req.
      383 words
    • Article
      Lock icon London freight market
      180 9 AP LONDON. Thurs. Chartering reverted to Its previous slow state, at least Insofar as single-voyage fixing was concerned yesterday. A handful of North American grain movements included 31,000 tonnes for May 1-15 shipment on the US Gulf-Ja-pan trade at the slightly better rate of U559.65 (FIO) aboard
      AP  -  180 words
    • Article
      Lock icon Experiment in quadraphonic broadcast
      194 9 AP LONDON, Thurs. The world'* first long-term experiment in quadraphonic "in depth" radio broadcasting will begin on April 30, the British Broadcasting Corporation announced yesterday The system, a development on stereophonic reception in radio and record players, involves hearing programmes on four loudspeakers. The BBC will
      AP  -  194 words
    • Article, Illustration
      New heavy-weather offshore crane
      190 9 TWO of the new OS2OO rope-derricking pedestal cranes, designed specifically for North Sea conditions by Stothert and Pitt Ltd., of Bath, England, delivered last monttt to De Groots of Rotterdam, who are building the platform modules for the Nlnlan Field's southern platform. A second pair of
      190 words
    • Article
      Lock icon Midget submarine
      127 9 Reuter LONDON, Thurs. British engineers have built a midget submarine in plastic for use mainly in oil exploration in the North Sea, the Vlckers Engineering group said. The seven metre craft, which cost £500,000, was developed secretly during the past five years, and has passed its sea trials.
      Reuter  -  127 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      593 9 ARRIVALS Service Operator Number Local Time From CPA MAS PAA CX003 MH682 PA841 0145 0810 0950 HKG KCH SFO/HNL/GUM SIA GIA SQ211 GA980 1015 1030 HLP HLP GIA PAL GA908 PR501 1100 1115 MES MNL SIA RBA SQ240 RT32S 1140 1155 MES BWN SIA KLM SQ201 KL833
      593 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      64 9 Everybody is asking... ASEAN-what is it all about? New Directions tells yon yo' 4 No I I I $300 10^ MARCH 1977 y.>: v. M eW*The Circulation Manager Times Periodicals Re. Ltd., 422 Thomson Road, Singapore 11. Please send me 4 issues of NEW DIRECTIONS: Cheque/ money order draft for
      64 words
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  • Article, Illustration
    Lock icon Thai rubber industry recovers
    801 10  -  By LONGRIT BOONMARK Depthnews RUBBER, Thailand's second most Important crop after rice, has bounced back from the brink of disaster wrought by the global recession. The Industry has weathered the difficult days of low-productivity and drastically reduced world demand' the Government now talks confidently of producing
    Depthnews  -  801 words
  • Article, Illustration
    Lock icon Prospects for Middle East peace could spark off new Arab – Jew conflict
    1097 10  - Prospects for Middle East peace could spark off new Arab Jew conflict By BERNARD EDINGER Reuter PROSPECTS for a final Middle East peace settlement could paradoxically spark off a new conflict between Arab and Jew this time within Israel's own 1948 borders. The new conflict would bring the Israeli authorities
    Reuter  -  1,097 words
  • Article
    Lock icon Italy caught in the middle of a crisis
    1108 10  -  By ROLAND DALLAS Reuter SPRING has come to Rome, which is now looking so beautiful that no one might think that Italy is In the middle of a crisis. Walters set their tables on sunny Rome pavements, flowers blossom In parks and
    Reuter  -  1,108 words
  • Article
    Lock icon BLACK MAGIC WILL HIT THE FASHION WORLD
    810 10  -  STARTING with four million pairs of jeans a year, the West Africans of the Ivory Coast intend to invade the fashion stores of the world. They have called upon United States expertise to help them do it. JACK GEE FT EUROPEANS will soon
    FT  -  810 words
  • Page 10 Advertisements
    • Advertisement
      Page 10 Advertisements Column 1
      93 10 The stunning new bestseller a A *mm w --> x v»ifeg *mW O >■* #4 4' 5 > S MMtgLQ* I* Ji .r- fr 4 ,-M T V c 1® <**"&: V i:-. ->/> fl y V i 'v J v.-:: X V m 5 ■His- m tz *>*,<&■: Peter
      93 words
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  • Article
    Lock icon An exchange of envoys may be best
    356 11 AP Reuter WASHINGTON, Thurs. The United States is likely to propose an exchange of ambassadors with Vietnam as the best way of dealing with an array of postwar problems, US Government sources say. President Jimmy Carter disclosed last month that US-Vietnamese talks will
    AP; Reuter  -  356 words
  • Article
    Lock icon Indonesian workers for Saudi jobs
    140 11 Reuter AMMAN, Thurs. Saudi Arabia has agreed to the employment of Indonesians on development and construction projects In the Kingdom, according to an Indonesian minister quoted by Riyadh Radio yesterday. Lieut-General Mohammed Jusuf, Minister of Industry, also told the radio his talks in the Saudi
    Reuter  -  140 words
  • Article, Illustration
    Lock icon Pertamina affair: Tale that staggers the imagination
    1452 11  -  By JOHN WYLES FT THE Pertamina Affair, as it has come to be known, could make a good plot for a business thriller, although most publishers might think it too far fetched. The sums of money involved, billions of dollars, are too vast
    FT  -  1,452 words
  • Article
    Lock icon Knowing the key figures...
    712 11 FT BRUCE RAPPAPORT exudes power, both physical and flnanclaljand although details of his private wealth are impossible to unravel, he enjoys an impressive lifestyle in Switzerland where he owns three properties in the Lausanne area. Born in Haifa In 1922, Mr. Rappaport shared with Mr. Sutowo
    FT  -  712 words
  • Article
    Lock icon UK body offers help for Manila projects
    114 11 Reuter MANILA, Thurs. Britain's Commonwealth Development Corporation (CDC) has offered to help in several possible projects In the Philippines, especially re-forestatlon, Informed sources said. Among possibilities is the re-forestatlon of 10,000 hectares of land which the corporation feels would help the country's plans
    Reuter  -  114 words
  • Article
    No winch can beat Popeye
    101 11 A UTILITY air winch which can solve many problems In construction, mining, onshore and offshore exploration and industrial applications, is now being marketed by the IngersollRand facility in Jurong. The winch, called Popeye Junior, is designed to cope with operations where the demand Is for
    101 words
  • Article
    Lock icon JAPAN HITS AT IMPOSITION OF TV DUTIES
    626 11 UPI,AP TOKYO, Thurs. Japan will protest a US Customs court decision that countervailing duties ranging from 10 to 20 per cent be imposed on Japanese television sets and other electronic Items, Government sources said today. "It is a clear violation of internationally understood
    UPI,AP  -  626 words
  • Article
    Lock icon REVISED INDEX LOWER
    162 11 Reuter TOKYO, Thurs. Japan's February Industrial production index was revised downwards to 127.2 (base 1970), seasonally adjusted, from the preliminary 127.7, the Trade and Industry Ministry said. The revised index is down 1.1 per cent from 128.6 in January, when It fell 0.2 per cent from December.
    Reuter  -  162 words
  • Article
    AEB: $5m spent in peak year
    129 11 THE Adult Education Board spent nearly $5 million In the fiscal year 1975-71, when Its enrolment hit a ptak of nearly 40,000 students. According to the board's annual report presented to Parliament In February, the board catered to about the same number of students
    129 words
  • Article
    Poly projects display
    90 11 THE Singapore Polytechnic's mechanical and production engineering department will be holding its first exhibition of project works by its final year students at the Prince Edward Road campus from April 15 to 19. une of the alms of the exhibition is to attract spon- sorshlp from industries
    90 words
  • Article, Illustration
    Lock icon Army put on alert as Muslim plebiscite nears
    278 11 Reuter MANILA, Thurs. The Philippine army has gone on alert to protect voters in Sunday's referendum on autonomy for 13 southwestern provinces as part of the settlement of the four-year-long Muslim rebellion, military sources said today. President Marcos (above) said earlier that
    Reuter  -  278 words
  • Article
    Commodity outputs higher in January
    561 11 KUALA LUMPUR, Thurs. Malaysia's major commodities and top foreign exchange earners rubber, palm oil and tin registered increased production levels in January. However, according to latest figures released by the Department of Statistics, the production of three commodities showed a decline when compared to the
    561 words
  • Article
    Lock icon Probe into UN wages, benefits
    220 11 UPI GENEVA, Thurs. Special Inspectors quietly have begun a sweeping Investigation Into the svstem of salaries and benefits at the US$5OO-mllllon-a-year (551.26 billion) United Nations conglomerate In Geneva. Ordered by member countries concerned over getting value for money, the Investigation began today and will last
    UPI  -  220 words
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      Page 11 Advertisements Column 1
      242 11 MAINTENANCE SECTION MANAGER The Chemical Company of Malaysia Bar hod (a member of the ICI Group of Companies) which has been operating in this region for 12 years has an opportunity for a highly experienced mechanical engineer, to join their senior Management team. THE J'JB The successful candidate will be
      242 words
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      Page 11 Advertisements Column 2
      223 11 INDUSTRIAL CHEMICALS Our office in the Central Business District has a position open for a Singaporean in his early thirties, with good experience in trading in a wide range of industrial chemicals, in volume, but someone also versatile enough to handle allied lines Applicants should forward, ir their own handwriting,
      223 words
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  • Article
    Lock icon 'WE WANT TAX ON TVs FROM JAPAN
    246 12 UPI WASHINGTON, Thurs. A coalition of industry and labour seeking US tariff protection from Japanesemade televisions said today it would oppose any voluntary agreement to limit Japanese television exports to the US. Voluntary export restraints "simply do not work," officials of the committee
    UPI  -  246 words
  • Article
    New merchant bank soon
    232 12 ANOTHER merchant bank will begin operations In Singapore within the next month, bringing the number here to 23. The latest addition to the merchant banking scene will be Inter-Alpha, a banking group comprising seven European banks: Banco Ambroslano of Italy, Berliner Handels-Gesells-chaft-Frankfurter Bank of Germany, Credit
    232 words
  • Article
    Profits expected to be worse
    119 12 THE performance of Japanese businesses in the October to March 1977 period is expected to be worse than what was anticipated a month ago, according to the latest survey of 100 selected corporations listed on the first section of the Tokyo Stock Exchange. The survey,
    119 words
  • Article
    Lock icon ADB tells of two factors which make for uncertainty
    660 12 Reuter. MANILA. Thurs. Most of Asia's developing countries made significant gains in their production and balance of payments in the past year, the Asian Development Bank said in its annual report. But growth prospects for the non-oil producing developing countries could
    Reuter.  -  660 words
  • Article
    MISSION FOR HANOVER FAIR
    117 12 A TEN-MEMBER trade mission will leave for Europe this Saturday to participate In the Hanover Fair and to meet buyers In Britain, Belgium, Germany, and France. Products which will be presented by the team will include calculators, clocks and clock-radios, two-way communication radios, telephones, digital watches,
    117 words
  • Article
    HK housing project gets $50 mil loan
    197 12 MANILA, Thurs. The Asian Development Bank (ADB) approved a US$2O.5 million (£&5O million) loan today to Hongkong to help finance the construction of two housing estates and associated facilities for the colony's Sha Tin urban development housing project. It Is ADB's first loan
    197 words
  • Article
    Timur confirms that $123 mil contract
    359 12 TIMUR Carriers yesterday confirmed reports that the firm has awarded a US$5O million (Ssl23 million) contract to Japan's Hitachi Shipbuilding and Engineering to build four 15,000 dwt container vessels. According to Mr. K.L. Brown, a director of Tlmur Carriers and the South-east Asia regional
    359 words
  • Article
    LONDON STOCKS
    775 12 LONDON, Thurs. The stock market closed quietly mixed and at 3.00pm the Financial Times Index was up one point at 418.8. The miners' intention, to reject further wage curbs caused equities to come off the top but government bonds were largely unaffected by this or the money supply
    775 words
  • Article
    Lock icon SILENCE TO RATE CUT REPORT
    195 12 Reuter TOKYO. Thurm. Both the Ministry of Finance and Bank of Japan said they were unable to comment on a press report carried by the financial daily Nihon Keizai that Prime Minister Takeo Fukuda instructed them to study the possibility of lowering interest rates, including
    Reuter  -  195 words
  • Article
    Lock icon RATES UP AT 4 SWISS BANKS
    102 12 Reuter ZURICH, Thurs. The four major Swiss banks raised their Interest rates for time deposits by 1/4 to 1/2 percentage point with immediate effect, Schwelzerlsche Bankge-sells-chaft said. The interest rate for three to five months deposits was raised to two per cent from M
    Reuter  -  102 words
  • Article
    Chase sues
    35 12 THE Chase Manhattan Bank N.A. yesterday filed a suit with the Court against Grace Pharmaceutical Pte Ltd and Cepher Chen Yan Sun for $96,950.26, allegedly being money due and owing to the plaintiff.
    35 words
  • Article
    CEMENT MAKERS ARE GETTING REGULAR ORDERS FROM JOHORE
    243 12 LOCAL cement companies are supplementing their meagre sales by selling to Johore Baru where contractors are suffering from Irregular supplies from Malaysian manufacturers. Industry sources yesterday said that cement manufacturers are selling to Malaysian users in Johore Baru "regularly" because these users
    243 words
  • Article
    Lock icon Draft accord on Thai zinc plant approved
    249 12 Reuter BANGKOK, Thurs. The Thai cabinet approved a draft agreement with the Thai Zinc Company for establishing a zinc smelting flant In northern Thailand, ndustry Minister Air Marshal Perm Llmplsvastl told reporters. Details of the agreement were not disclosed but Marshal Perm said
    Reuter  -  249 words
  • Article
    Lock icon IMPROVED DEMAND FOR LOANS SEEN
    293 12 Reuter NEW YORK, Thurs. US domestic loan demand will show a definite improvement in the current quarter and a good increase during the remainder of the year, J.P. Morgan and Co chairman Mr. Eilmore Patterson said. He told Reuters he expects short-term interest rates to
    Reuter  -  293 words
  • Article
    Apparel: Aussies to lobby S'pore
    459 12 THE Apparel Importers Association of Australia will be lobbying for the support of Singapore and other Asian governments against an anticipated switch by Australia from the present import quota system for apparels to an auction or tender system. The association's president, Mr. B.Mendelsohn, said in
    459 words
  • Article
    Called on customers
    51 12 FIVE members of the ScanDutch European marketing exchange team spent five days in Singapore last week, calling on customers and business associates. The five shipping executives were Messrs. Nigel Gray and Charles Smith of the UK. H. Nygaard and Lelf BJurstroem of Denmark and H. Jansen of
    51 words
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      78 12 Sec Page 11 w\O^S> e Where South East Asian buyers... Food and Drink Importers Hotels, Restaurants, Coffee Houses Armed Forces Institutional Caterers Factories, Rigs, Logging camps see your exhibits Foods and drink products Wines and spirits Catering equipment Hotel and Restaurant consumables Hotel furnishings Hotel accounting and security systems Cleaning
      78 words
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      Page 12 Advertisements Column 2
      200 12 B| V n Mi, n.," Hi presents 9* PAR»* A'la carte dinner daily from April 11 to 30,1977. With three of Maxim's very own chefs to pamper you with haute cuisine. And a Maitre d Hotel to give you "the softest, most personal, and if you desire, the most extravagant
      200 words