The Business Times, 28 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 THURSDAY, APRIL 28, 1977 50 CENTS
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  • NEWS IN BRIEF
    • Article
      Lock icon Bundesbank on the mark
      87 1 AP PARIS, Wed. —The West German Bundesbank would not oppose revaluing the deutschemark If market forces push it up "in a durable manner," the Central Bank's president-elect, Othmar Emminger, said in an interview published today. He told the daily Le Monde that the bank approved recent
      AP  -  87 words
    • Article
      Lock icon Just as bad this year
      68 1 AP WASHINGTON, Wed. —The Group of 24, representing developing countries at the IMF, said projections indicate that the 1977 balance of payments deficit of oil importing poor countries will almost equal the US$2B billion (5568.9 billion) figure of last year. They said these countries would
      AP  -  68 words
    • Article
      Lock icon Bulwark against revolts
      56 1 Reuter Reuter TOKYO, Wed. President Marcos of the Philippines said today that economic development was the best way of beating Insurgencies in membercountries of Asean. In stressing the Importance of economic development as a means of combatting such threats, he said that Japan's cooperation was Important in
      Reuter  -  56 words
    • Article
      Lock icon Setback for Tindemans
      59 1 AP BRUSSELS, Wed. The Socialist Party today rejected plans by Premier Deslgrl&te Leo Tlndemans for a traditional three-party coalition government with the Social Christians and the Liberals. The Socialist rejection of Mr. Tlndemans' plan will probably lengthen the process of forming a new government, which was not
      AP  -  59 words
    • Article
      Lock icon Tanker safety standards
      63 1 AP WASHINGTON, Wed. The US Senate is preparing to consider tough new safety and environmental standards for oil tankers entering US waters. By a unanimous vote, the Senate commerce committee yesterday approved legislation supported by the Carter Administration that would, among other things, require oil tankers using
      AP  -  63 words
    • Article
      Lock icon Our royal prerogative ...
      64 1 Our royal prerogative Reuter SOUTHAMPTON, Wed. A decision to have the British luxury liner Queen Elizabeth II refitted In an American yard today brought an angry reaction from British shipyard workers. The 3,000 workers at Vosper Thornycroft ship repair division, who have carried out previous drydock overhauls, issued a statement
      Reuter  -  64 words
    • Article
      Lock icon Dow Jones
      77 1 UPI NEW YORK, Wed. Aided by bargain hunters, stocks headed higher early today In fairly active trading of New York Stock Exchange Issues. The Dow Jones Industrial average was ahead 2.88 points to 918.50 shortly before 1500 GMT. The Dow managed to gain 1.02 points yesterday after losing
      UPI  -  77 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      167 1 SHARE prices reacted slightly upwards at the Stock Exchange of Singapore yesterday though trading remained light and selective. Gains were generally small as reflected in the 1.04 points rise in the Business Times index to 250.49. The Straits Times Industrial index also rose 0.33 point to 244.26.
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    • Article
      In Kuala Lumpur
      109 1 Falls Most active kramat 4.00 -.60 Central Sugars 283,000 Berjuntai 14 30 -.20 Haw Par 80.000 High Low 61.000 Mcom Intraco C. Sugars 1.80 1 OA -.10 08 04 Pan Electric 44 000 I.5W 1.87 Total Turnover: 0.93M S.P. Text 1.00 -.04 lotal Value: MSI 54M Text.
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  • Article, Illustration
    Cho's FEP is out of receivership
    788 1  -  DONE WITHOUT OUTSIDE HELP By QUEK PECK LIM FINANCIALLY troubled Mr. Cho Jock Kim yesterday triumphantly announced to the world that the first of his companies to be put into receivership FEP International has taken Itself out of the receivers' hands. He also emphasised
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  • Article
    Times Pub hits $9.2 mil in the first half
    241 1 TIMES Publishing yesterday announced unaudited group profits of $9,212 million for the half year ended February 1977 against $9,156 million last time. Company results were $8,023 million against $5,896 million for the previous six months but Times Publishing cautions that there
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  • Article
    Lock icon DROUGHT RELIEF
    84 1 Reuter KUALA LUMPUR, Wed. Malaysian government agencies are working on measures for relief of 50,000 farming families affected by the prolonged drought in the northern states of Kedah and Perlis, officials here said. They said one of these measures was to subsidise costs of planting rise and other
    Reuter  -  84 words
  • Article
    Suisse shares are back in form
    446 1 ZURICH, Wed. Credit Suisse Bank shares recovered sharply on the stock exchange here today after losing one-fifth of their value In two days following a multl-mllllon franc financial scandal. In early trading. Credit Suisse bearer shares regained almost all the 10 per cent they
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  • Article
    SIA decision on additions to fleet soon
    300 1 SINGAPORE Airlines (SIA) will probably announce within the next few months its decision on the second wide bodied aircraft type to be added to Its fleet. A senior management source told Business Times that the airline plans to introduce this new aircraft type
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  • Article
    Workers call off BA strike
    123 1 LONDON. Wed. Maintenance workers called off their wildcat strike against British Airways today after a 24-day struggle with management and with other unions that cost the state-owned airline the equivalent of nearly six months' profit. The 4.000 strikers voted to return to work tonight, and
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  • Article
    Lock icon GROMYKO SEALS AID PACTS WITH INDIA
    343 1 AP NEW DELHI, Wed. Soviet Foreign Minister Andrei Gromyko and his Indian counterpart today signed three important economic agreements Increasing Soviet assistance to India. Mr. Gromyko and Indian External Affairs Minister Atal Beharl Vajpayee signed the agreements at the conclusion of his threeday official
    AP  -  343 words
  • Article
    Lock icon New firm set up to export Thai farm products to Singapore
    282 1 Reuter BANGKOK, Wed. Thailand and Singapore today set up a private enterprise under an agreement to export agricultural products to the island Republic. Singapore's permanent secretary to the Ministry of National Development, Mr. Cheng Tong Fatt, said the company
    Reuter  -  282 words
  • Article
    Lock icon Third deficit in a row
    218 1 UPI WASHINGTON. Wed. —Propelled by a 22 per cent Increase in petroleum purchases, the United States registered a record US$2.4 billion (Ss6 billion) trade deficit in March. The Commerce Department reported today. It was the third consecutive month that a n#>w deficit record was established.
    UPI  -  218 words
  • Article
    Lock icon Six affirm interest in petro-complex
    130 1 UPI TOKYO. Wed. Six Japanese firms have formally expressed interest in investing in the development of the petrochemical industry in Singapore, a Japanese industrial leader said today. Mr. Norishige Hasegawa, president of the Sumitomo Chemical Industry, told a news conference that he wants to finalise
    UPI  -  130 words
  • Article
    HK Land issue
    136 1 HONGKONG Land is to raise US$54 million through an international bearer bond issue to finance Its i projects including its redevelopment programme j in the Central district of Hongkong and the con- struction of the new Windsor House commercial building at Causeway Bay. Lead manager for the
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  • Article
    Over sub scribed
    106 1 THE Singapore government's 100 million D-mark bond in the European capital market has been oversubscribed, according to financial sources here. The subscription agreement of the bond, lead managed by Dresdner Bank, was signed in Frankfurt yesterday. 11 is believed the six-year i bond carries a coupon rate
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  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      57 1 Colour TV is singly great 3C bllC ÜblllV See Pace 3 INSIDE Overseas News/ TV A Overseas Stocks P 7 Radio P 2 Commodities P 8 Overseas News/ Transport A CommuniFeatures P .1 cations P 9 Local Co News P 4 Features PlO International Co News P 5 Local Overseas
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    • Advertisement
      Page 1 Advertisements Column 2
      92 1 Increase your Industrial Take advantage of Hong Leong's Industrial Hire Purchase service. To buy valuable machinery or equipment without tying up too much capital. Hcng Leong has a range of flexible plans to meet every company's requirements. Terms are reasonablfe and interest rates are kept low. And repayments can be
      92 words
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      Page 1 Advertisements Column 3
      137 1 BANK VAULT SAFE DEPOSTT DATA SAFE STRONG SAFE SAFERLE r i > V I'll f A V —»uu' *>■ V X.v'" :>•.*.. v: ■f 'mi** > ftnang-Cathay new place in the sun. Now, Singapore is connected with Fenang and Hong Kong. Now the unspoiled beauty of Penang's palm-fringed beaches is
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  • OVERSEAS
    • Article
      Lock icon $40bil BOOST LIKELY FOR IMF RESOURCES
      908 2 APPROVAL EXPECTED FOR WITTEVEEN PLAN Reuter WASHINGTON, Wed. The Interim committee of the International Monetary Fund is expected to approve in principle Mr. Johannes Witteveen's plan to increase the fund's resources by up to US$l6 billion (5539.4 billion), Informed monetary sources said. IMF managing
      Reuter  -  908 words
    • Article
      Lock icon BANK LENDING UPSWING
      107 2 Reuter BASLE, Wed. The Bank for International Settlements said international bank lending rose sharply in the fourth quarter of last year, partly reflecting seasonal factors and partly to meet deficit countries' external financing needs. In its latest report on international lending, the bank said external assets of
      Reuter  -  107 words
    • Article
      Lock icon Thomson's second summit tour
      206 2 Reuter LONDON, Wed. Lord Thomson, a special British emissary, will leave here on Saturday for Ottawa on the second leg of his Commonwealth tour to discuss preparations for the Commonwealth summit conference In London In June, a Foreign Office spokesman said yesterday. Lord Thomson, a former
      Reuter  -  206 words
    • Article
      Lock icon 'Make way for poorer nations in textiles, shoes'
      234 2 AP OTTAWA. Wed. The executive director of the World Bank says Canada should find a way to ease out of textile and shoe production and leave the market to developing countries. Earl Drake, a Canadian, said yesterday he does not think there
      AP  -  234 words
    • Article, Illustration
      Lock icon 'Lift barriers' call by US trade envoy
      519 2 Reuter LONDON, Wed. President Carter's chief international trade negotiator Mr. Robert Strauss said the US will strive for success at multilateral trade talks now stalled in Geneva but chlded Britain for a limited series of less than open arrangements with other countries. Stressing
      Reuter  -  519 words
    • Article
      Lock icon Leftist unions cool to Barre package
      418 2 UPI PARIS, Wed. French Prime Minister Raymond Barre has failed to Impress leftist labour unions or Industry chiefs with a 12month plan designed to stabilise France's economy and government before next years parliamentary elections. "Sordidly electoral" was the reaction of General Labour Confederation chief
      UPI  -  418 words
    • Article
      Lock icon Accord on health
      42 2 Reuter HONGKONG, Wed. China and Rumania signed yesterday an executive plan for the years 1977 to 1978 of a health cooperation agreement, the New China News Agency reported. It did not give details of the plan signed In Peking.
      Reuter  -  42 words
    • Article
      Lock icon FRANCE NEEDS TO RAISE $6 bil IN LOANS
      174 2 Reuter PARIS, Wed. Prime Minister Raymond Barre said the French Government will need to raise 11.8 billion francs (555.9 billion), by borrowing this year. Mr. Barre told the National Assembly six billion francs will be raised by a longterm state loan and
      Reuter  -  174 words
    • Article
      Lock icon Strikers disrupt services
      104 2 AP PARIS. Wed. Electricity, railroad, local transport and postal services will be disrupted In France from tonight to Friday as strikers nationwide protest the government's continued tough wages line. The protest movement builds up to the traditional May 1 mass march in Paris and other cities. Electricity
      AP  -  104 words
    • Article
      Lock icon March budget deficit rises to $23 bil
      262 2 Reuter WASHINGTON, Wed. The US monthly budget deficit expanded in March to $9.48 billion (Ss23 billion) the Treasury Department said. The deficit compared to a $6.55 billion shortfall In February and an $8.77 billion deficit in March, 1976. For the fiscal year to
      Reuter  -  262 words
    • Article
      Lock icon Final hurdle for jobs bill
      272 2 Reuter AP WASHINGTON. Wed. US Senate and House of Representatives conferees broke a seven-week stalemate yesterday and approved President Carter's plan to stimulate the United States economy with public works jobs. The jobs bill, a major part of President Carter's economic package, would make US$4
      Reuter; AP  -  272 words
    • Article
      Lock icon 'Rise in liquidity may be source of inflation'
      305 2 Reuter FRANKFURT. Wed. The strong rise in international liquidity over the last year could be a dangerous potential source of inflation, the Bundesbank said. Total world wide monetary reserves in 1976 rose around US$29.B billion (SS73 billion) to $256 7 billion, excluding
      Reuter  -  305 words
    • Article
      Lock icon CALIFORNIA FILES SUIT AGAINST GM
      149 2 Reuter LOS ANGELES, Wed. The state of California sued General Motors yesterday for substituting Chevrolet engines in certain models of GM cars sold in the state. The suit, filed In state court here by the Attorney General, accused GM of unfair competition and false advertising.
      Reuter  -  149 words
    • Article
      Lock icon Bank meet
      36 2 AP PANAMA CITY. Wed. Delegates from official and private banking institutions from 26 countries registered yesterday for the first Panama banking convention, which hopes to project this country's advantages as an international banking centre.
      AP  -  36 words
    • Article
      Lock icon 245 billion tonnes of oil shale in the world
      165 3 Reuter Reuter UNITED NATIONS, Wed. A United Nations report said yesterday there are an estimated 245 billion tonnes of oil shale in the world that could be exploited with a 50 per cent recovery rate, but only a technological breakthrough would
      Reuter  -  165 words
    • Article
      Lock icon Queen E2 to be overhauled in US to save money
      254 3 AP LONDON, Wed. Cunard says the Queen Elizabeth II ocean liner, pride of Britain's merchant fleet, will have its annual overhaul in the United States this year to save money. The announcement from Cunard Line Ltd. brought protests yesterday from
      AP  -  254 words
    • Article
      Lock icon S. African gold
      35 3 Reuter JOHANNESBURG. Wed. The suspension of the minimum gold holding requirement of the South African Reserve Bank does not signify any change of attitude by the authorities, official banking sources said Reuter.
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    • Article
      UK Govt expects faster North Sea oil build-up
      455 3 LONDON, Wednesday BRITAIN'S North Sea oil should be flowing at a rate equal to about half the country's consumption by the end of this year, according to an official government report which predicts a faster build-up towards oil self-suffi-ciency. The annual report
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    • Article
      Lock icon British current payments improving
      330 3 Reuter WASHINGTON Wed. British Chancellor of the Exchequer Denis Healey said Britain's current account balance of payments position appears to be improving at a faster pace than the British government had anticipated only a few months ago. Recent data on the current account payments situation shows
      Reuter  -  330 words
    • Article
      Lock icon Newsmen's appeal to prevent Standard-News merger
      426 3 Newsmen's appeal to prevent StandardNews merger LONDON, Wed Reuter JOURNALISTS appealed to the British Government yesterday for help in preventing London's two afternoon papers from merging Into one. The appeal followed reports that the Evening Standard was about to be swallowed up by the rival Evening News in a member
      Reuter  -  426 words
    • Article
      Lock icon $1,440 m worth of LPG for export next year
      173 3 UPI KUWAIT, Wed. —Kuwait will export US$6OO million (551,440 million) of liquified petroleum gas (LPG) next year to the United States, Canada, Europe and other world markets, an official statement said yesterday. The current annual production of 1.4 million metric tonnes
      UPI  -  173 words
    • Article
      Lock icon Kuwait now owns $480 m blue chip stakes in Britain
      321 3 AP LONDON. Wed. —The Kuwaiti Government has bought major chunks of Britain's financial and industrial companies and now has a stake of as much as £120 million (SS4BO million) in blue chip concerns, the Kuwaiti Investment Office has disclosed. But
      AP  -  321 words
    • Article
      Lock icon Record profits by 14 Venezuela oil firms
      201 3 AP CARACAS, Wed. The independent Caracas newspaper El Nacional said yesterday that Venezuela's 14 state-owned oil companies have reported "record profits" for the first quarter of this year. The newspaper did not provide specific figures in most cases, and government officials declined to
      AP  -  201 words
    • Article
      Lock icon Concorde: FAA endorses secret report
      205 3 Reuter WASHINGTON, Wed. The United States Federal Aviation Administration (FAA) has endorsed a secret report by the makers of Concorde claiming the supersonic airliner can operate at New York's Kennedy Airport as quietly as many conventional jets. A FAA spokesman said yesterday that the report
      Reuter  -  205 words
    • Article
      Lock icon EEC pact on bargaining position at sugar talks
      436 3 Reuter LUXEMBOURG, Wed. Common Market farm ministers yesterday agreed on their bargaining position at the forthcoming talks on sugar prices with developing countries which export the commodity. EEC sources said. The talks with interested countries among the 52 developing nations linked to
      Reuter  -  436 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      148 2 even with copies of copies I i "N. Sharp Plain Paper Copier SHARPFAX guarantees you quick, sure copy everytime with these added features to make quality reproduction more economical and more reliable. BLACK SOLID BUCK r ■<: MODEL SF 720 3 Switch on Multi-Purpose usage Books and 3 dimensional objects
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  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      289 2 RADIO TV SINGAPORE 5 3.00 P.M. Opening Announcements followed by Housewives' Matinee "The Little Flowers In Tears" (r) with Superimposed English/ Chinese Subtitles 3.45 General Hospital 4.30 Intermission 6.00 Opening Announcements followed by Elephant Boy Dogs Of Death. 6.30 News in Brief. 6.35 Warna-Warni (Malay) (r)° 7.00 The Lost Islands
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      278 3 Which bank cut the world down to size, just for you? We did. Bank of America. Through our new World Banking Division, we've divided up the world of business into four, easy-to-manage parts: North America; Latin America; Europe, Middle East and Africa; and the Far East. With offices in key
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  • Page 3 Miscellaneous
    • Miscellaneous
      Page 3 Miscellaneous Column 1
      43 3 I THE WEATHER WEATHER report for 24 hours prior to 7.30 p.m. on April 27 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
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  • COMPANY NEWS
    • Article
      Apollo Enterprises exceeds profit forecast by 40pc
      446 4 AGAINST its own expectations, pre-tax profit at Apollo Enterprises last year exceeded its prospectus forecast of $1.38 million by some 40 per cent. And as it promised when it came to the market last June, the company is paying a maiden dividend of
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    • Article
      DIVIDENDS ANNOUNCED
      609 4 Current Ex Date Total for Total for pay ment Date payable the year previous year Bedford Plantations 22% Apr 13 Apr 29 22% 20% G.E.Life 20% Apr 14 Apr 29 29% 26% T ronoh 25% Mar 16 Apr 29 25% Tasek Cement ord. 5%I Mar 16 Apr 30
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    • Article
      Temenggong expands A and W subsidiaries
      838 4 WITH its A and W subsidiaries making most of the running again last year, Temenggong has decided to expand this profitable division in the current year ending Dec 31, 1977. For, according to chairman, Mr Robert Lutton, "the A and W subsidiaries in both
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    • Article
      Pacific Chemicals faces another difficult year
      578 4 PACIFIC Chemicals, producers of weedkillers and other agricultural chemicals mainly for the rubber and oil palm industries, does not expect the current year to be an easy one. In making this cautious but relevant remark in view of last year's disappointing performance, chairman Mr
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    • Article
      PEOPLE IN BUSINESS
      198 4 AIR New Zealand has appointed Mr. Ismail Kader as sales service manager for South-east Asia and Mr. Edmund Chew as passenger sales superintendent. Mr. Yip Seek Weng was elected president of the Singapore Training and Development Association at its AGM on April 22. Other office bearers are
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    • COMPANY MEETINGS
    • LATEST RESULTS
      • Article
        PAN MALAYSIA CEMENT WORKS
        83 4 J Unaudited pre- tax profit M 54.35 million ($7.49 million) for the year ended March 31. 1977. Tax $1.74 million ($3.06 million), leaving net profit $2.61 million ($4.43 million). No group figures are available yet. Second interim gross dividend 7 1/2 per cent (10 per cent),
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    • Article
      Diversification pays off for Malayan United Ind.
      447 4 MALAYAN United Industries' recent diversification into finance and insurance has begun to pay off. Tong Bee Finance, which became a wholly-owned subsidiary during the year ended Dec 31, 1976, increased pre-tax profit by nearly 90 per cent to M 5219.940. .United Continental Insurance,
      447 words
    • Article
      Satellites play a major role in UPI's expansion
      803 4 A BETTER ALTERNATIVE NEW YORK, Wed. Satellites are playing a major role in the expansion of United Press International's worldwide communications system. UPI president Roderick W. Beaton declared in his annual progress report that satellite technology offered a better quality, more reliable
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    • Article
      CHICAGO BOARD OPTIONS
      1411 4 On April 26 TRADING In options on the Chicago Board Options Exchange came to 95.109 contracts on Tuesday compared with Monday's 105,402 contracts. OPTION JLY OCT JAN STOCK Alcoa 50 7 i/a 7 3/4 UNTRD 57 Alcoa 60 «/4 1 3/4 2 1/2 57 Am Tel 55
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      298 4 $125/i stocks THE TIMES ATLAS Of CHINA TIMFS DISTRIBUTORS SDN. BHD., MAIL ORDER DIVISION. TIMES HOUSE. RIVER VALLEY ROAD, SINGAPORE 9. Please send me copy/copies of THE TIMES ATLAS OF CHINA. I enclose Cheque/Money Order for post free. NAME ADDRESS The Times Atlas of China is far more than a
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Decision soon on Hitachi TV plan
      169 5 Reuter LONDON, Wed. The UK Industry Department expects to announce shortly its decision on an application by Hitachi to build a television factory in the North-east of England, a department spokesman said. This week the Department will hear objections to the proposed factory from
      Reuter  -  169 words
    • Article
      Lock icon American Express enjoys 54pc jump
      155 5 Reuter NEW YORK, Wed. American Express reported a 54 per cent jump in first quarter profit above a year ago, which chairman Mr. Howard L. Clark said was broad-based. The travel and finance company said its first quarter profit totalled US$5O million, or 69 cents
      Reuter  -  155 words
    • Article
      Lock icon Sun down
      66 5 Reuter DALLAS, Wed. Sun expects a drop in first quarter earnings of about eight per cent, vice chairman Mr. Robert Donahue told the annual meeting. He predicted the oil company would earn about US$BO million in the quarter, down from $87* million in the year-ago period. He said
      Reuter  -  66 words
    • Article
      Lock icon Nestle aims for higher profit
      428 5 Reuter ZURICH, Wed. Nestle Allmentana alms for a consolidated profit at five per cent of sales, but may fall short of this objective In 1977, managing director Mr. Arthur Fuerer said. The company has already reported 1976 net consolidated profit of 872 million francs (799
      Reuter  -  428 words
    • Article
      Lock icon US Steel, Bethlehem suffer setback
      602 5 Reuter PITTSBURGH, Wed. Two of the United States' major steel producers yesterday reported substantial losses in the first quarter this year and cited harsh winter weather and related problems for the bleak report. US Steel, the largest producer said it earned U5527.4 million, or 33
      Reuter  -  602 words
    • Article
      Goldsworthy strike ends
      246 5 SYDNEY, Wed. A strike by Australian Workers Union men at Goldsworthy Mining's Shay Gap iron ore mine ended yesterday morning, a company spokesman told Reuter by telephone from Perth. The strike started on April 21, as part of the current union campaign in the Pilbara iron ore
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    • Article
      Polaroid's 'Polavision'
      528 5 NEEDHAM, Massachusetts, Wed. Jugglers, mimes and dancers cavorted on stages at Polaroid's annual meeting, giving shareholders a chance to try Polaroid's longawaited Instant movie camera, which was unveiled yesterday. About four thousand shareholders crowded Into a Polaroid warehouse for a first glimpse of the Polavision" system, which includes
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    • Article
      Lock icon CRA achieves good start
      263 5 Reuter MELBOURNE, Wed. Conzlnc Rlotinto of Australia (CRA) showed a solid earnings advance in the first quarter of 1977 compared with the first 1976 quarter, chairman Mr. Rod Carnegie said. Speaking at the annual meeting, he gave no figures but said the year started well for
      Reuter  -  263 words
    • Article
      Lock icon Volkswagen Eurobond
      176 5 Reuter WOLFSBURG, Wed. The US$l5O million Eurobond being raised by Volkswaeenwerk's subsidiary Volkswagen Overseas Finance's Finance, will be used entirely to finance establishment of VW's US car assembly facilities, Volkswagen managing board member responsible for finance, Mr. Frledrlch Thomee said. Conditions for the 10 year with a coupon
      Reuter  -  176 words
    • Article
      Record highs at Parker
      429 5 CLEVELAND. Ohio, Wed. Parker Hannifin Corporation (NYSE) announced record highs in sales, earnings and new orders for the third quarter, and the first nine months ended March 31, 1977. Mr. Patrick S. Parker, president of the multi-na-tional manufacturer of fluidpower and automotive products, said net earnings
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    • Article
      Lock icon Concern over P. Petroleum
      794 5 NORTH SEA SPILL NYT NEW YORK. Wed. Phillips Petroleum, which Is credited with recognising early the potential of the stormy North Sea as an oil and gas reservoir and which drilled the first two successful fields there. Is now facing critical assessment regarding its expertise In
      NYT  -  794 words
    • Article
      Winnipeg
      35 5 LONDON. Wed. Amount of the city of Winnipeg Eurobond was raised to US$4O million from $35 million originally planned and the per cent issue due 1987 was priced at lead manager Wood Gundy said.
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    • Article
      Lock icon UK govt, Amoco talks to resume
      161 5 Reuter LONDON, Wed. Talks between the British Government and Amoco, the only oil company In the British North Sea which has not signed agreements giving the British National Oil Company title to 51 per cent of oil production, will resume shortly and will succeed,
      Reuter  -  161 words
    • Article
      Lock icon Chrysler lays off 17,800
      115 5 Reuter DETROIT. Wed. Chrysler said at least 17.800 workers will be laid off today because of the effects of a strike at a stamping plant. The company said 8,500 workers will be laid off at its Hamtrack assembly plant in Michigan. 4.100 at the Lynch Road
      Reuter  -  115 words
    • Article
      ECSC notes issue
      71 5 LONDON. Wed. The European Coal and Steel Community Is offering US$3O million of 7 5/8 per cent notes, due May 15, 1984, Hill Samuel said. The issue is being handled by Kuwait Investment (Sak), Hill Samuel. Abu Dhabi Investment, Arab Finance, Arab Investment, Ste Generale de Banque
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    • Article
      Lock icon Dividend loss upsets shareholders
      614 5 NYT NEW YORK, Wed. With few exceptions, most of them in the south-west, bank shares generally are selling at substantial discounts from book value assets less liabilities divided by shares outstanding and shareholders are upset. Bank stock analysts, who insist the worst is past, report shareholders
      NYT  -  614 words
    • Article
      Lock icon New York Times buoyant
      542 5 NYT NEW YORK. Wed. The New York Times told its shareholders yesterday that first quarter earnings climbed 96 per cent on a 12 per cent increase in revenue o'ver the comparable period of 1976. Net income in the three months ended March 31 was reported at
      NYT  -  542 words
  • Page 5 Advertisements
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      Page 5 Advertisements Column 1
      106 5 TOKYO? •t 4*s m m m. HH world—in London, New York, Seattle and Los Angeles. We're a bank with a unique understanding of Alaska and the entire Pacific Rim. That's why most of our international offices are located in that area Each one is staffed with experts. So we can
      106 words
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  • Article
    Share Information Service
    2130 6 i m Last div Div y'ld P/E Vol Day Hich Low Company Sale +or- C'VT (•000) High LXJW SECTION ONE INDUSTRIALS 140 136 Acma 143 -1 12.ON 1.1 8.3 7.2 4 143 143 133 127 Acma A 129 12.ON 1.1 9.3 6.5 204 204 Alcorn 204 10.0
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  • Article
    Transactions in Singapore
    1164 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of SlnsaDore vesterdav 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
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  • Article
    In Kuala Lumpur
    1177 6 BID and cffer 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 ACM A (1.458). Ajinomoto (2 02S) (1) 2.00. CO. Alcorn (1.80B)
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  • Article
    Stock options
    93 6 STRIKING prices of the stock option* officially lilted on the Stock Exchange of Singapore, the Criods, bid and offer price* and sine** done yesterday, with the number of option* traded shown in bracket*. C and C (Sept $1.90) (0.18S) DBS (June $390) (0.02B) (Dec $3.60) (0.338 0 355)
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  • Article
    Unit trusts
    151 6 SINGAPORE UNIT TRUST INCOME BOND UNIT (Manafara' price* for Apr 28) (Current pri CM) The Commerce 1 69 17# INCOME BOND 1.04 1.10 The Saving Fund 0 85 0 90 Spore Prog Fund 0.76 0.81 MARA BUMIPUTRA FUND S'pore Security Fund 142 ISO (Manager*' price* for Apr 28)
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  • Article
    Corporate bonds
    81 6 DBS Converts 6 1/2% 1991 (100.000) (97U8 98S) E I B 8 1/4% 1983 (100,000) (100' :B 101S) Keppel 9 1/2% 1982 (100,000) (102 SB 103S) Keppel 9% 1983 (100,000) (101 1 iB 101 7 <eS) Korea D B 9 1/2% 1981 (100,000) 98'^) Orient Letiin( 8 1/4%
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  • Article
    Domestic govt bonds
    111 6 5 1/2% 1/4/78 (250,000) (101.488 101 545M5)101.52 S 1/2% 15/4/78 (250,000) (101 458 101.635) 5 1/4% 15/7/78 (250.000) (101.488 101 555) 4 3/4% 1/5/79 (250,000) (100.638 100 70S) 7% 1/7/79 250,000) (104.658) 5 1/4* 15/10/79 (250,000) (101.508 101 655) 6 3/4% 15/6/80 (250,000) (103.40B) 6 3/4% 1/12/80
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  • Article
    Sentiment at SES improves
    451 7 A SLIGHT reaction to the overnight decline was noted at the Stock Exchange of Singapore yesterday when trading waa again rather light and (elective. Market pundits generally were of the consensus that the sharp fall on Tuesday was somewhat overdone in the absence of any disastrous
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  • Article
    Shares turn steady at KL
    458 7 PRICES recovered slightly at the Kuala Lumpur Stock Exchange yesterday but dealings remained light and selective. After a barely steady opening, values turned a shade steadier on covering support. But some nervous selling In a few counters caused the market to ease again, paring most
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  • Article
    Lock icon Oil firms sign agreement
    129 7 Reuter QUITO. Wed. Ecuador's state oil company, Corporacion Estatal Petrolera Ecuatoriana (Cepe) and Gulf Oil have signed an agreement, which paves the way for the purchase of Gulf Oil's share in the Texaco-Gulf consortium operating in Ecuador. The agreement provides Cepe be paid US$24O million for
    Reuter  -  129 words
  • Article
    Sumitomo
    46 7 TOKYO. Wed. Sumitomo Metal Industries confirmed it plans to float an 80 million franc, 5 1 per cent 15-year bond on the Swiss market early next month. Issue price is yet to be fixed. and the company declined to disclose names of the issue managers.
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1182 7 NEW YORK: A technical rally on Tuesday faded away after a few hours of trading and the market closed mixed In fairly active trading. Analysts said the early advance. brought on by bargain hunting In the hard hit glamour group, lacked the strength to continue. When Investors saw
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    • Article
      Paris
      357 7 PARIS: The market eased In thin trading on Tuesday, with operators cautious ahead of Wednesday's announcement of the second phase of Prime Minister Raymond Barre's plan for the French economy, dealers said. Most sectors lost ground while Investments, engineering and retailing were mixed. American stocks were narrowly mixed while
      357 words
    • Article
      Sydney
      404 7 SYDNEY: The market closed mixed on Wednesday, with leading industrial BHP closing eight cents to *6.26 but coals firm, dealers said. Utah gained 12 to 4.67 and Thins four to 1.80. Audimco rose 10 to 1.25, Hamersley four to 2.80, FZ Industries four to 3.15 and Phillip Morris 10
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    • Article
      Amsterdam
      328 7 AMSTERDAM: Shares firmed In general on Tuesday, but Dutch Internationals ruled mixed, with Unilever A marked again, Akao higher and Hoogovent, Philip* and Royal Dutch losing some ground, dealers said Banks weakened and Insurances were mixed. Bob led gains In the rest of the market. Declines were headed by
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    • Article
      Manila
      186 7 MANILA: Commercials were firm on Wednesday, but minings were easier on the fall In metal prices and Oilscalso declined. In continued dull trading, dealers said. Total turnover rose slightly to 1.87 million pesos from Tuesday's 1.81 million. Gainers Included San Miguel A and B, but Atlaa Con A and
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    • Article
      Jo'burg
      374 7 JOHANNESBURG: Gold shares traded basically steady at lower levels on Tuesday, as trade slackened towards the close, dealers said. Financial minings also eased with An clot seven cents off at 380 after annual report Elsewhere. De Beer* lost seven cents to 403 Coppers were easier and platinums basically unchanged,
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    • Article
      Tokyo
      513 7 TOKYO: The market closed slightly lower on Wednesday, with export-oriented blue chips and large capital Issues losing ground in the absence of positive factors, dealers said. The Dow Jones average fell 0.94 to close at 5.091 96 with volume 180 million shares The new Index closed at 379.12. down
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    • Article
      Hongkong
      403 7 HONGKONG: The market closed mixed on Wednesday, in quiet trading on lack of fresh factors, dealers said. The Hang Seng index was down 0.25 points to close at 442.50 points. Leading stocks were bought selectively, with Hongkong Land gaining five to 7.40, and Swire Pacific five to 9.10. Hongkong
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    • Article
      Zurich
      337 7 ZURICH: Schweizeriache Kredilnaitalt bearer shares on Tuesday closed at 2,100 francs for a net loss over Monday of 250 francs after falling to 1.950 at one stage, dealers said Its registered shares fell 28 francs to 397: after touching 390 francs. Other bank shares were also lower, with Schweizeriache
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    • Article
      Toronto
      336 7 TORONTO: The market closed lower In light trading on Tuesday. with the composite index down Just under two points and declines leading advances 215 to 164. MacMillan Bloedel rose one to 23 on higher first quarter earnings. Oahawa Group A gained five cents to $3.80 on Improved fourth quarter
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    • Article
      Frankfurt
      327 7 FRANKFURT: Shares closed mainly up to five marks lower partly on profit-taking on Tuesday. but also due to Wall Street weakness, dealers said. Linde and Man lost up to five, while chemicals led by Bayer lost up to 2.40. Hoechat which announced a higher 1976 dividend on Tuesday, eased
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    • Article
      Milan
      142 7 MILAN: Stocks were generally easier In thin dealings on Tuesday. bourse sources said Snia Viacoaa, Montedison and General* Immobiliarc led Industrial shares lower. Plat also eased, while Pirelli Spa and Assicurasioae General! showed marginal losses. Bonds showed scattered gains APR X Lire 47Anlc 241 •1S Assoc Oen ***** -160
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    • Article
      Brussels
      175 7 BRUSSELS: The market was mixed In moderately active trading on Tuesday, dealers said. Cockerill fell sharply in the absence of encouraging news from Monday's annual meeting. Reserve, Vsturienne, Hoboken. FN. Aoec and Arbed also fell Sidroo Klectrobel, Traction. Vieille Montague. GB-Inno-BM, Tecsenderloo and Cometra rose. Gold mines fell following
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    • Article
      Bangkok
      94 7 APR 27 Bahts Asia Fibre 187 -3 Bangkok Bank 293 -8 Bangkok Invest. 179 -1 Bangkok Metropolitan Bank 2550 unch Bata 422 -1 Berll J ucker 241 -10 Charoong Thai Wire 178 Dusit Than; First Trust Indo-Thai Industrial Finance Corp 1205 J and J Ho 231 Jalaprathan Cement 124
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    • Article
      Indices
      67 7 FINANCIAL TIMES INDUSTRIAL Tuesday 421 0 Monday 419.0 Week ago 408 1 DOW JONES AVERAGE INDUSTRIALS Tuesday 915.62 Monday 914 63 Week ago 938 77 LONDON DOLLAR PREMIUM Tuesday 123*. to 124',4 Monday 121% to 122 H.K. HANG SENG Tuesday 442.75 Monday 444.46 Week ago 439.63 SYDNEY INDUSTRIALS Tuesday
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      Page 7 Advertisements Column 1
      355 7 Yes, Penguin books are not to be found in any ordinary shop. Not in little road-side stalls. Heavens, certainly not in the pasar ma I am! Because Penguin books are rather special. They are mind-stimulating, deeply researched, y'r*, enterta n n 9 n a wholesome way, highly educational J Mj
      355 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      769 8 IN the Singapore rubber market yesterday, higher London advices made for a firmer opening when prices were marked up 0.75 cent after which long liquidation caused values to fall back in dull trading. Towards the morning close, renewed buying Interest caused prices to move up
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    • Article
      Closing prices
      30 8 Rubber: April 27 Singapore: May IM.7S cU (up 0.50 ct.) Malaysia: May 196.00 cU (up 0.25 ct.) Tin: 51.460.00 (up 915.00) Official offering: 205 tonnes (down 70 tonnes)
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    • Article
      SSR and SMR
      98 8 May June R.A.S. (Current Mth) (Forward Mlb> Buyer* Seller* Buyer* Seller* (cent* per kg) (cent* pe rk() SSR20 (l-ton Pallet) 192 00 193 OON 193.00 194 OON SSR 50 (1-ton Pallet) 190 00 191 00N 191.00 192 OON M.R.E.L.B SMR5CV (1-ton Pallet) 217.00 219.00N 219.00 221 OON
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    • Article
      Straits tin
      197 8 THE Straits tin price in Penang yesterday was up $15.00 to $1,460.00 per picul on an official offering down 70 tonnes to 205 tonnes. In LONDON yesterday morning, tin advanced by around £71 per tonne for Cash and £65 for Three Months in both contracts. Dealers said the
      197 words
    • Article
      Palm Oil
      113 8 THE following Palm Oil prices were quoted In London on Tuesday The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Tuwday Pre*. Malaysla-5% ffa bulk 662 sir 670 sir Jnt/ Jly Sumatra 5% Apt unch 665pd May 870pd 880pd June 670
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    • Article
      Produce prices
      277 8 CHINESE PRODUCE EXCHANGE. SINGAPORE NOON CLOSING PRICES PER PICI'L YESTERDAY. Coconut Oil: Bulk $110 sellers, old drum SI 15 sellers, new drum $120 Copra Mixed (loose) UK/Cont. 171 buyers. Pepper: Muntok ASTA white f o b. 100% NLW $397' i sellers, Sarawak white f ob 96% NLW $377S
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    • Article
      Duty rates
      61 8 The Malaysian Minister of Finance has fixed these duties from April 28 until further notice: Rubber 90% cts a lb Copra $1,150.00 a ton Palm Kernal $235.75 a ton The rates of duties payable are: Rubber 10% cts a lb Surcharge 5 cts a lb (Total 16% cts
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    • Article
      Gold
      352 8 IN the Singapore gold market yesterday, the kllobar changed hands in the range of 5511,680 to 5*11,750. Oood demand were seen at the lower levels. The loco London gold opened at U*****.30/146.60 and was bldded up to close at U*****.20/147.50. The London morning fix was U*****.50 up 35 cents
      352 words
    • Article
      Silver
      181 8 LONDON, Wed. Silver steadied by 2.8 to 2.2 pence per troy ounce in the morning under modest covering prompted by the late overnight rally at New york, the trend In base metals and higher gold, dealers said. Three Months traded up to 285.2 pence before profittaking shaded the market,
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    • Article
      Coffee
      393 8 LONDON, Wed. Futures closed the opening call £2 lower to £52 higher on last night. 409 lots were traded and the official tone was "strong". May, on technical considerations ended the call £2 lower at £3,723 having recovered from an opening loss of £55 at £3,670. July closed £28
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    • Article
      Rice
      221 8 BANGKOK, Wed. 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 269 100 per cent 3rd 264 5 per cent 254 10 per cent 233 15 per cent 230 20 per cent 227
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    • Article
      Wheat
      102 8 CHICAGO. Tues. Wheat futures turned upward after an early decline to close two to 3/4 cents a bushel higher on a relatively light trade. The sharp losses in soybean futures combined with the reports of continued winter wheat crop improvement and low export clearances to generate early speculative selling.
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    • Article
      Soybeans
      140 8 CHICAGO, Tues. Soybean futures closed with 30 cent a bushel limit losses In old crop months and September. New crop months were down 18 to 15'/4 cents. On the decline, the July dropped below the $10 level to close at $9.85 a bushel and May finished at $10.01. Prices
      140 words
    • MONEY AND EXCHANGES
      • Article
        Singapore
        522 8 OVERNIGHT rates In the local money market eased yesterday. Following the eight per cent close on overnight funds on Wednesday, dealers yesterday turned cautious. Many were unsure If the market would continue to be tight. Fears were, however, dispelled by mld-mornlng when the opening overnight rate of per cent
        522 words
      • Article
        Asian $ rates
        178 8 Asian rates ASIAN currency deposit Interbank rates as at close on April 27 US Dollar* (Spot) Offer Bid 7 days 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths 5 1/16 4 15/16 4 13/16 4 11/16 5 1/16 4 15/16 5 5/16 5 3/16 5 9/18
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      • Article
        Discount
        46 8 RANGE of prices offered by discount houses on April 27 Overnight 3* Call deposit 3* ClMiu Buy Helling 3-month Treasury bills 3 2'i 3-Month Bank bills 4 1/16 3 IS/16 3-Month CD 4% 4* 6-Month CD 4 7/l« 4 5/16 Source: National Discount Co Ltd
        46 words
      • Article
        Euro $ rates
        167 8 Euro rates LONDON, Wed. Period Eurodollar deposits opened easier where changed reflecting the Friday dealings technicality while shortdates were little changed. Dealers said trade continued farlly quiet ahead of the turn of the month. One, Two and Six Months opened around 1/16 to 3/16 easier on the change In dealing
        167 words
      • Article
        Treasury bills tender
        39 8 THE Monetary Authority of Singapore (MAS) invites banks and discount houses to tender for: $20 million 91-day Treasury Bills to be Issued from May 3 to May 6. Each tender must not be less than $250,000.
        39 words
      • Article
        London
        240 8 LONDON, Wed. The Swiss franc weakened afresh In moderate early trading reflecting continued market reaction to the Sch welzerische Kredltanstalt situation, dealers said. It was quoted at an early 2.5370/80 to the dollar against 2.5320/30 overnight. The guilder meanwhile traded quietly, slightly off Its European Joint currency float celling
        240 words
      • Article
        New York
        296 8 NEW YORK, Tues. The dollar closed firmer against most currencies than yesterday after it recovered from an over-reaction to the Carter Administration's higher inflation forecast, dealers said. The main impetus to the rise came from a fall in the Swiss franc, which dropped to a closing 39.44/46 cents
        296 words
      • Article
        Tokyo
        76 8 TOKYO, Wed. —The Bank of Japan is believed to have sold a small amount of dollars to prevent a further weakening in the yen, dealers said. The US dollar for overnight delivery closed at 278.20 yen, down from 278.50 at the opening and 278.45 at yesterday's close. Trading was
        76 words
      • Article
        Hongkong
        137 8 HONGKONG, Wed. The US dollar firmed steadily throughout the day on the local market to close at HK54.6545/65 from the overnight $4.6480/90 in moderate tradln™ '°alers said. They said the alts firmness was du. the sharp overnight rise i US interest rates, some commercial end-month demand and the continued
        137 words
      • Article
        Minimum lending rates (in %)
        61 8 Minimum lending rates (in acbc fi 3 Algemene Bank 6\ Citibank Bangkok Bank 7 HSBC 7 Bank of America Indosuez 6»« Bank of China 7 Malayan Banking 6»4 Bank of Tokyo fi V 4 Mitsui Bank 6 J 4 Bank Negara OCBC Indonesia 7 OUB fi*, Chartered Bank fl 3
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      • Article
        Australia/NZ
        52 8 AUSTRALIA NZ exchanges quoted on April 27. Australia: Sterling 0.6447 0.6377 US dollar 1.1049 1.1001 Ninety-day air mall buying rates: Sterling 0.6641 US dollar 1.1299 Ninety-day forward buying rates: Sterling 0.6444 US dollar 1.0933 NEW ZEALAND: Sterling 0.5593 0.5562 US dollar 0.9662 0.9562 Ninety-day forward rate: Sterling 0.5805 US
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      • Article
        Zurich
        56 8 ZURICH exchanges closing quotes on April 26. US 2.5315-5325 UK 4.3495 3525 Can 2.4145-4165 W Germ 106.77-85 Neth 102.74-83 France 50.98 51.02 Belg 6.98-98 3 Denm 42.31 34 Norw 47.83 87 Swed 58.15 19 Italy 0.2853 2855 Austria 15.02 04 Port 6.53 55 Spain 3.67 V 2 Arg 0.70-85
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      • Article
        Frankfurt
        37 8 FRANKFURT exchanges opening quotes on April 27 US 2.3710/20 2.3693/98) Can 2.2615/35 UK 4.073/083 v Neth 96.15/25 Switz 93.50/65 Italy 2.67/68 J France 47.75/85 A Norw 44.82/90 m Belg com 6.54/55 Belg fin 6.51/53 Japan 0.8510/25
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      • Article
        Eurobond prices
        279 8 LONDON Eurobond prices quoted on April 27 Straight* Bid Offer Austria 8* 90 101* Bell Canada 8*. 86 104* 105* BFCE8*83 102* Brazil 8 .84 97* 98 Can Pacific 9'-. 83 104* 104* Credit National 8 86 99 100 ECSC983 103* 104* EEC 8^82 101'* 102* EEC 7*
        279 words
    • Article
      Sugar
      254 8 LONDON. Wed. —Terminal sugar was down last night by £1.50 (near May at £144.50) to £2.45 at the end of the opening call but about In line with New York Kerb levels, dealers said. They said liquidation of spot May in New York was the key to the immediate
      254 words
    • Article
      Copper
      271 8 LONDON. Wed. Copper wlrebars gained mostly £9 per tonne in the morning. Dealers said prices paused on the pre-market following the overnight news of Phelps Dodge's price cut of three cents per lb to 71 cents. Three months traded down to £818 per tonne before short-covering, profit taking purchases
      271 words
    • Article
      Lead
      77 8 LONDON. Wed. Lead rose by £17.50 for Cash and £14 for Three Months in the morning. This firmer tone followed short-covering and chart buying on a somewhat oversold market after rejection by the trail" lead/zinc workers of Comlnco's latest contract offer, dealers said. Three Months traded up to £392.50
      77 words
    • Article
      Zinc
      74 8 LONDON, Wed. Zinc gained £11.75 for Cash and £11 for Three Months In the morning. This metal was also influenced by the trail workers' rejection of Comlnco's latest contract offer, dealers said. Short-covering and chart support lifted Three Months to £397 in the Ring and to £398 on the
      74 words
  • Page 8 Advertisements
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      Page 8 Advertisements Column 1
      78 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) BUSINESS TIMES Subscription Form Address:. Payment for S is enclosed All subscriptions are payable in advance and should be drawn in
      78 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Dilemma over a key point of US energy plan
      850 9 WASHINGTON, Wednesday NYT AMERICAN policymakers are facing a dilemma over one of the key elements of President Carter's energy programme the incentives to encourage use of fuel efficient cars. What's described by one American trade official as a "hell of a
      NYT  -  850 words
    • Article
      ANRO'S TRIAL RUN TO AUSTRALIA SUCCESSFUL
      212 9 AN INITIAL trial shipment of unitised timber from Singapore to Australia, in preparation for the introduction of the Anro consortium's first ro-ro container ship later this year has been reported as "highly successful". The Anro consortium comprises the Australian National Line, Neptune Orient Lines
      212 words
    • Article
      Lock icon BAN ON OIL TANKERS
      64 9 Rueter SYDNEY. Wed. Australia's seamen unions voted today to continue a selective ban on foreign oil tankers coming to Australia The ban started nearlj a month ago because of a dis- pute over oil companies not using an Australianmanned tanker. The companies say there is not
      Rueter  -  64 words
    • Article
      Lock icon Tougher safety steps for tankers
      169 9 UPI WASHINGTON, Wed. The Senate Commerce Committee yesterday approved legislation to require tougher safety standards for tankers that call at United States ports. Chairman Warren Magnuson, DemocratWashington, who urged speedy approval of the Bill because of the growing threat of massive oil spills, said he
      UPI  -  169 words
    • Article, Illustration
      IN PORT
      402 9 EXPECTED ARRIVALS TODAY KEFFEL WHARVES Bunga Setawar (2300 after Karl Liebknecht) 18 Cherry Vilja (B. Barge) (1500 tbc) 48 Eastern Poseidon (H3OK) (1300) (Subject free board) 25/26 Frotasantos (1700 after Dong Nam) (Departure Draft 9.75 m) 46 Genevieve Lykes (0800) 3/4 Loon Chong (3EFD) (***** 40/41 Montes (after
      402 words
    • Article
      NSU to change name to the Nedlloyd Group
      248 9 NETHERLANDS Shipping Union Group (NSU) is to change its name to Nedlloyd Groep N V. (Nedlloyd Group). When formal approval from shareholders is received next month, the group's divisions, as well as a number of its operating companies will also adopt the
      248 words
    • Article
      Lock icon London freight market
      173 9 AP LONDON. Wed. Chartering on the London shipping freights market was geographically well spread yesterday, although there was not much business about. Australian grain reappeared when a 25.000-tonne May 10-20 barley movement was arranged from Western Australia to the Bordeaux-Hamburg range at US$2l (3,000 tonnes discharge free).
      AP  -  173 words
    • Article
      Lock icon Fuel saving electric motor
      116 9 AP LOS ANGELES. Wed An American electrical engineer has designed a more efficient electric motor which he says could save one to two million barrels of oil per day If It Is put Into wide use. Mr Cravens Wanlass told a news conference yesterday that his
      AP  -  116 words
    • Article
      Lock icon Metric signs
      54 9 AP WASHINGTON. Wed Speed signs along American roads an<J highways will be converted to the metric system next year under regulations being drawn up by the Federal Highway Administration There is no plan to print both metric and English figures on signs to efcse the famillariatlon. a Highway
      AP  -  54 words
    • Article, Illustration
      Smallest engine diesel
      70 9 A WEST German company has come out with the world's smallest diesel engine (above). It has a capacity of 3.5 k at 3,000 revs per minute and is highly portable, being only 29 cms long and weighing only 33 kilograms complete with fuel tank, air filter and
      70 words
    • Article
      Lock icon Sun-powered irrigation
      52 9 AP GILA BEND. (Arizona), Wed. North Western Mutual Life Insurance Company opened on Monday what it claims is the world's largest solarpowered irrigation system. The system, developed by Battelle Memorial Institute of Columbus. Ohio, Includes a 50-horsepower j pump capable of delivering I up to 10.000 gallons per
      AP  -  52 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      580 9 ARRIVALS Service Local Operator Number Time From CPA CX003 0145 HKG MAS MH682 0810 KCH PAA PA847 0830 SFO/HNL/GUM CPA CX710 1000 HLP SIA SQ211 1015 HLP GIA GA980 1030 HLP GIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES RBA BI325 1155 BWN
      580 words
    • Article
      Chua again heads SASAR
      185 9 MR. CHUA Chor Teck. managing director of Keppel Shipyard, has been re-elected president of the Singapore Association of Shipbuilders and Repairers (SASAR). for the fifth successive year. At the ninth annual general meeting of the association yesterday. Mr. Low Guan Onn and Mr. K K. Ching
      185 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      196 9 Give us a man for a monthwell give him a language for life infingua now the largest group of language schools in the world offers a range of intensive language courses specifically designed for the busy executives whose work and position require them to attain a high degree of proficiency
      196 words
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  • Article, Illustration
    Palm oil — going too fast?
    1498 10  - Palm oil going too fast? The government and oil palm refiners are concerned about excess capacity and the problem of oversupply following the slowdown in world demand for refined products By LOW LEE CHOO The aim is to ensure that it grows at a slower annual rate of 16.5 per
    1,498 words
  • Article, Illustration
    Lock icon Muslims hope for strong showing in Jakarta polls
    725 10  -  By KATE WEBB UPI THERE is more open political feeling for change in Indonesia today than since the turbulence of the mid-1960. After 11 years of carefully guided stability, the 70 million eligible voters of the world's fifth most populous country are
    UPI  -  725 words
  • Article
    Singapore's finance companies heading for stagnation
    922 10  -  By COLIN CHEE FINANCE companies In Singapore are headed for stagnation and a diminished role In the country's financial sector. This conclusion, arrived at by Applied Research Corporation In Its recent six-months study on the Industry commissioned by the Finance House Association of Singapore,
    922 words
  • Page 10 Advertisements
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      Page 10 Advertisements Column 1
      359 10 Good reading on from Penguin China the most populous nation in the world. Fast emerging as a major power in world politics. Isolated from the rest of the world for over two decades, world attention has nevertheless turned to this most enigmatic of nations time and again. Starting with Nixon,
      359 words
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  • Article
    Lock icon Party seeks vote counting authority
    255 11 UPI JAKARTA. Wed. —The Muslim Party, hopeful of an impressive showing in next week's general elections, pressed yesterday for coauthority in the verification of ballot counting on election day, party leaders said. The party formally presented its stance on the subject in a report to
    UPI  -  255 words
  • Article
    Export orders give footwear industry a kick
    249 11 SINCE its recovery in 1972, the labour-intensive footwear industry has been enjoying increasing sales, thanks to exports. Last year, exports rose 14 per cent to $25.4 million and the manufacturers expect a better performance this year. Mr. Lee Heok Seng, an official of
    249 words
  • Article
    4 Stem exodus of batik makers'
    198 11 KUALA LUMPUR. Wed. The Malaysian Handicraft Board has been directed to look into the migration of Kelantan batik manufacturers to Singapore. Deputy Trade and Industry Minister Datuk Mohamad Rahmat said today that the industrial progress of the country would be adversely affected if the
    198 words
  • Article
    Lock icon Charting export policy for India
    168 11 Reuter NEW DELHI, Wed. Indian Commerce Minister Mohan Dharia said yesterday that the new government's export policy would be striking a delicate balance between meeting the domestic demand and becoming self-reliant to pay for imports. Mr. Dharia, who was addressing a meeting of the Engineering
    Reuter  -  168 words
  • Article
    Lock icon 26 HEP plants
    95 11 Reuter MANILA. Wed. The Philippines National Power Corporation today announced plans to build 26 new hydro-electric power plants in the country in the next 10 years at an estimated cost of US$4.2 billion (5J10.3 billion). The plants will have a combined generating capacity of 3.910.000 kilowatts, which
    Reuter  -  95 words
  • Article, Illustration
    Lock icon Paris trip so far so good says Dong
    148 11 Reuter PARIS, Wed. Vietnam's Prime Minister Pham Van Dong (above) said his visit here has exceeded his wildest expectations. Following talks with President Giscard d'Estaing yesterday, he told reporters: "Things are going in a very satisfactory manner. This is a very good
    Reuter  -  148 words
  • Article
    Lock icon Vientiane venue for Thais, Viets?
    162 11 Reuter BANGKOK, Wed. Thailand is ready to meet Vietnamese officials for talks In the Lao capital of Vientiane as proposed recently by Hanoi, Foreign Minister Upadit Pacharlyangkun said here day. Thai officials had discussed mutual problems with Vietnamese delegates here for a United Nations conference
    Reuter  -  162 words
  • Article
    Lock icon Production resumes
    103 11 Reuter STAVANGER. Wed. Oil production at the Ekofisk field in the North Sea was resumed early today, a spokesman for the operators, Phillips Petroleum Co, said. Production was halted early on Sunday morning following the blowout of the Bravo production rig where attempts at capping the well-head were
    Reuter  -  103 words
  • Article
    BELGIAN PRODUCTS
    106 11 TWENTY Belgian textile manufacturers yesterday held a one-day exhibition at Hyatt Hotel to give local importers and agents a better insight into their products. Mr Pierre Bodson, manager of market development, Belgian Textile Federation, said Belgian products are not too well-known In Singapore. Mr Marcel Deppase, the Belgian
    106 words
  • Article
    Lock icon TOKYO TO CUT LONG-TERM RATES SOON
    455 11 Reuter TOKYO, Wed. The Japanese Government, banks, and securities companies are expected to lower their long-term interest rates in the near future, the Finance Ministry said. The ministry has decided to lower from May the coupon rate on 10-year national bonds to 7.4 per
    Reuter  -  455 words
  • Article
    Lock icon Leyland venture with Mitsui approved
    191 11 Reuter TOKYO, Wed. The Japanese Government approved the establishment of a Joint venture company in Japan between British Leyland International and Mitsui to increase imports and sales of British Leyland cars here, the Finance Ministry announced. The new firm, Leyland Japan is capitalised at 1.6
    Reuter  -  191 words
  • Article
    Lock icon Carry on building bridges
    161 11 AP TOKYO, Wed. The Government yesterday lifted a freeze imposed three years ago on the conduction of a chain of bridges for a highway and railway system to link Japan's main island of Honshu with its fourth largest island of Shikoku. The project, estimated to cost
    AP  -  161 words
  • Article
    Lock icon 'Japanese should reduce banks' liabilities now'
    348 11 Reuter TOKYO, Wed. Japan should take advantage of its growing balance of payments surplus to reduce its commercial banks' shortterm dollar liabilities overseas and achieve a more balanced external financial Eosition. Mr. Masao Fujioa, international finance director at the Finance Ministry said. In an
    Reuter  -  348 words
  • Article
    Lock icon Mills agree to iron ore price rise
    231 11 Reuter TOKYO, Wed. Japanese steel mills have agreed to pay eight to 10 per cent more for Brazilian iron ore they are to import in fiscal 1977 and 1978 (April to March), a spokesman for Nippon Steel Corp (NSC) said. The new pricing
    Reuter  -  231 words
  • Article
    Lock icon Crude oil imports up in March
    125 11 UPI TOKYO. Wed. Japan's crude oil imports in March totalled 27.824,000 kilolitres (173,343,520 barrels), up 56 per cent over February, the Japan Petroleum Association reported. It said Saudi Arabia accounted for 9.986 million kilolitres (62,212,780 barrels), up 59 per cent over February; Iran 4.336
    UPI  -  125 words
  • Article
    Three NPB courses
    78 11 THE National Productivity Board will be conducting a course on "Introduction to Basic Logical Control and Integrated Circuit Devices" In Chinese at NPB Town Training Centre, here from May 3 to 19. Another course, on Boiler and Furnace Operations and Instrumentation will be held from May 23
    78 words
  • Article
    All that glitters doesn't make a market bright
    798 11 IF anything can be said about gold bullion in Singapore these days it is that the metal has gone into hibernation with the price at around US$l5O (Ss37o) an ounce. Trading in the metal has slowed discernibly, especially in the once popular
    798 words
  • Article
    Lock icon Raising cash limit is included
    93 11 Reuter TOKYO, Wed. The plan to ease foreign exchange controls, currently under study by the Finance Ministry, includes a rise in the amount of foreign currency Japanese travellers are allowed to take out of Japan from the present US$3,OOO (557.380), ministry officials said. The ministry
    Reuter  -  93 words
  • Article, Illustration
    Lock icon Seoul is ready to go it alone
    198 11 UPI SEOUL. Wed. President Park Chung-hee (above) said South Korea has completed preparations to conduct oil exploration alone on a continental shelf south of the country If Japan does not agree to joint development of the area, Seoul newspapers reported today. The newspapers
    UPI  -  198 words
  • Article
    Lock icon Korean arms
    70 11 UPI SEOUL. Wed. The South Korean Government plans to seek export markets for some of the military hardware produced domestically, a Government "administrative white pa per" for 1977 released yesterday said. The whitepaper. prepared by the planning and coordination office under Premier Choi Kyu-hah. said intensive Government support
    UPI  -  70 words
  • Article
    Lock icon ICAO calls for policy to curb price-cutting
    290 11 UPI MONTREAL Wed The International Civil Aviation Organisation has ended a two-week conference on the economics of world aviation with a call for new policy to curb price-cutting among all air carriers. It marked the first time ICAO had taken up the Issue
    UPI  -  290 words
  • Article
    Pata offers to look into KL hotels
    171 11 KUALA LUMPUR. Wed. The Pacific Area Travel Association (Pata) has offered Malaysia the services of a team of marketing specialists to study the low occupancy rates in some hotels in Kuala Lumpur. Pata Chapter Services director Mr. Gerald E. Picolla today said this
    171 words
  • Article
    Enlarged capital
    143 11 NORDIC Bank which operates a branch with an offshore banking licence here since 1975, has announced that Copenhagen Handelsbank will take onequarter of its enlarged share capital. The remaining 75 per cent will be held equally by its existing shareholders Den Norske Creditbank of Oslo. Kansallis- Osake-Pankki of
    143 words
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      244 11 APPOINTMENTS Suitably qualified candidates are invited to apply for the following positions:1) Personnel Officer Graduates with at least 3 years experience in Personnel/ Industrial Relation work in a major industry Singapore citizens age 25 35 years 2) Safety Officer Must be registered Safety Officer or with qualifications acceptable for registration.
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  • Article
    Lock icon Genscher offers to help boost Asean ties with EEC
    375 12 UPI Reuter JAKARTA, Wed. West German Foreign Minister Han-Dietrich Genscher said todav his Government is prepared to help set up dialogue to boost cooperation between the European Economic Community and Asean. Mr. Genscher, who arrived in Jakarta earlier this week leading
    UPI; Reuter  -  375 words
  • Article
    Lock icon Deadlock in Japanese, Aussie sugar talks
    420 12 UPI TOKYO, Wed. Negotiations over sugar price reductions appeared to be deadlocked today as Japan expressed dissatisfaction with the price cut offered by Australia. Mr. John Laurie, general manager of Australia's Colonial Sugar Refining (CSR), presented Japanese importers with a package deal calling for
    UPI  -  420 words
  • Article
    BILL CHENG OUR NEXT UK ENVOY?
    265 12 SINGAPORE is believed to have made up her mind on her next envoy to the UK. Sources say he is Mr. William Cheng, Permanent Secretary to the Ministry of Labour. Mr. Cheng's appointment will fill a position that has been vacant since last July
    265 words
  • Article
    LONDON STOCKS
    779 12 LONDON. Wed. The stock market firmed with sentiment helped by news that North Sea oil production is building up more quickly than expected, dealers said. The ending of the British Airways maintenance engineers strike also contributed to the gain. At 3.00 p.m. the Financial Times index was up
    779 words
  • Article, Illustration
    Lock icon The Marcos solution to end suspicions
    493 12 UPI TOKYO, Wed. The Philippines today asked Japan to modify its trading policies and practices in South-east Asia to remove lingering suspicions about Japanese "economic imperialism." In a major economic policy speech prepared for delivery before the Japanese Federation of Economic Organisations (Keidanren), President
    UPI; Source: UPI photo  -  493 words
  • Article
    Help sought to put up SPC building
    355 12 THE Singapore Professional Centre (SPC) is looking around for investors to help it develop a building of its own near or within the city. Though it has no building site in hand and no capital, it is apparently hopeful of getting both. It
    355 words
  • Article
    Good response to DBS gold sale
    163 12 A MONTH after the Development Bank of Singapore began selling gold, the bank reports that resp«nse from the public has been "very good". The bank's 100-gram coin bars have proved quite saleable, while demand for its smaller variety five. 10 and 20 grams has
    163 words
  • Article
    CUPPA HIKE CUT
    130 12 THE two coffee shop associations agreed yesterday to increase the prices of coffee and tea by only five cents with or without milk. They have also agreed not to increase the prices of Horlicks, Milo and Ovaltine. The effective date of the new price increase will be
    130 words
  • Article
    Application refused
    31 12 KUALA LUMPUR, Wed. Labour Minister Datuk Lee San Choon has rejected an application by the Electrical Industry Workers Union (EIWU) to organise the 33.000 electronics workers in the country.
    31 words
  • Article
    It's now or never when the German mission flies in
    877 12 IF Singapore can stir up enough interest among the team of high-powered German businessmen and officials who arrived here today, then follow-up missions from West Germany can be expected. This is the opinion of leading German businessmen here who feel
    877 words
  • Article
    Lock icon Pact makes it easier to claim damages
    366 12 AP LONDON. Wed. Britain and eight other European countries with offshore oil Interests have agreed on terms for a formal pact to provide compensation for oil pollution, the British Government announced yesterday. The pact links Belgium. Britain, Denmark. France, West Germany. The Netherlands.
    AP  -  366 words
  • Article
    Lock icon OP BLOWOUT UNDERWAY
    168 12 UPI STAVANGER. (Norway) Wed. American oil experts battling blinding, erupting oil, mud and explosive gas fumes today boarded a blowout rig named Bravo in the North Sea. An 11-man crew led by Asger Hansen and Richard Hatteberg of the Red Adair Fire and Blowout Co. of Houston,
    UPI  -  168 words
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