The Business Times, 29 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 29, 1977 50 CENTS
    10 words
  • NEWS IN BRIEF
    • Article
      Lock icon KL's call to Japan
      68 1 Reuter KUALA LUMPUR, Thurs. Malaysia today called on Japan to help Asean countries by Increasing Imports of Asean products, particularly semi-processed and manufactured goods. Speaking at a seminar on business practices of Japanese enterprises, Deputy Trade and Industry Minister Datuk Mohamed Rahmat said Japan could help
      Reuter  -  68 words
    • Article
      Lock icon Production sharing
      43 1 AP JAKARTA, Thurs. A new production-sharing contract between the Aqultalne Oil Company of France and the government-owned Pertamlna oil monopoly was signed today. The new contract Includes a two-year extension of exploration work by the French firm In this country. AP
      AP  -  43 words
    • Article
      Lock icon Suharto 'no' to parties
      36 1 AP JAKARTA, Thurs. President Suharto today turned down the demand by two opposition parties that party witnesses at voting stations be allowed to sign preliminary forms reporting voting results and proceedings. AP.
      AP  -  36 words
    • Article
      Lock icon Under Aerospace's wings
      57 1 AP LONDON, Thurs. The formal nationalisation of Britain's aircraft industry takes place tomorrow when British Aerospace assumes control of four concerns making planes, guided weapons and space equipment. British Aerospace, with about 70,000 employees, will bring British Aircraft Corp., the aviation and dynamics divisions of Hawker Slddeley
      AP  -  57 words
    • Article
      Lock icon Well, it's up-side down. . .
      80 1 Well, it's up-side down. Reuter STAVANGER, Thurs. Phillips Petroleum which operates the runaway well in the North Sea admitted today, after two failed attempts to shut off escaping oil, that a vital piece of equipment on top of the well had been installed upsidedown on last Friday night. Under prolonged
      Reuter  -  80 words
    • Article
      Lock icon Bhutto blames US
      57 1 Reuter ISLAMABAD, Thurs. Prime Minister Zulfikar Ali Bhutto tonight charged that the United States was behind a huge international conspiracy to bring down his government. Mr Bhutto, in an impassioned speech to the joint session of parliament here, said: "This is a massive, huge, colossal international conspiracy
      Reuter  -  57 words
    • Article
      Lock icon Dow Jones
      118 1 UPI NEW YORK, Thurs. Prices headed higher early today, in active trading of New York Stock Exchange issues with the aid of a report showing better than expected first quarter corporate profits despite the severe winter weather. Investors were encouraged by the Wall Street Journal's first quarter survey
      UPI  -  118 words
  • Chief Price Changes
    • Article, Illustration
      In Singapore yesterday
      187 1 LOWER-PRICED Ben featured in a generally quiet and dull session at the Stock Exchange of Singapore yesterday. The share rose to 75 cents from 63 cents previously. Elsewhere, gains were marginal as reflected in the fractional rise of 0.28 point in the Business Times index to 250.77.
      187 words
    • Article
      In Kuala Lumpur
      115 1 Rises Most active E.N E. 3.08 06 Central Sugars 154,000 S. Lumber 0.70 .05 1/2 General Lumber 142.000 G. Lumber 0 67 .04 High Low 50.000 Bovis SEA 0 52 1/2 .02 1/2 Haw Par 43.000 Haw Par 0.97 021/2 Total Turnover 0.79 M C Sugars 1.70
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  • Article, Illustration
    Lee: Protectionism will benefit Reds
    825 1  -  'MOST URGENT PROBLEM TODAY' By SOH TIANG KENG PRIME Minister, Mr. Lee Kuan Yew, yesterday denounced moves towards greater protectionism in the world economy. > He warned that such a trend could lead to an "embittered and fractured world" which would help the communists. He
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  • Article
    Latest loan 80pc oversubscribed
    217 1 SINGAPORE'S latest DMIOO million six-year bond issue was oversubscribed by 80 per cent, with 80 per cent of the demand made through European underwriters and the balance through £*«gapore. The issue's coupon rate has been fixed at 6.5 per cent, a rate very much in line
    217 words
  • Article
    ASEAN COMMITTEES
    64 1 JAKARTA, Thurs. A meeting of Asian officials opened today to discuss merging more than 10 Asean committees into smaller ones. One official attending the meeting said committees covering industry, natural resources, power, trade, tourism, communications, food and agriculture will be merged into five committees. A decision on the
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  • Article
    Bonn pledge to support Asean
    342 1 VISITING West German Foreign Minister, Mr. Hans-Dietrich Genscher, yesterday pledged his country's support for Asean efforts at closer integration and for closer Asean-EEC relations. at a dinner given by Foreign Minister. Mr. S. Rajaratnam, he said that his country would do its utmost. both bilaterally
    342 words
  • Article
    That offer to HPL holders: Haw Par clears the air
    916 1 HAW Par Brothers International indicated yesterday that its offer to buy back Haw Par (London )'s convertible preference shares was entirely altruistic. This was the message conveyed by two senior Haw Par executives to Business Times when they said that,
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  • Article
    S'pore is ready to reveal trade figures
    209 1 SINGAPORE is ready to give statistics on two-way trade with Indonesia. However, it has hesitated to do so because of criticisms from the Indonesian press that Singapore is responsible for smuggling activities in that country. This was stated by Finance Minister, Mr. Hon
    209 words
  • Article
    Sued for return of shares
    64 1 THE receiver and manager of Far Eastern Hotel Development (FEHJ, Price Waterhouse. is suing International Holdings for the return of 2.2 million MSI shares of Far Eastern Hotel Development (Malaysia) Price Waterhouse is also suing for the return of all appropriate transfer forms for the
    64 words
  • Article
    FEFC to enforce 12.5 pc hike from July
    660 1 THE Far East Freight Conference (FEFC) will implement a general rate increase of 12.5 per cent from July 1 this year, but shippers are unlikely to see this lower increase as a concession. This final freight rate proposal is 1.25 per cent
    660 words
  • Page 1 Advertisements
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      Page 1 Advertisements Column 1
      42 1 Get advanced copying technology. INSIDE Overseas News/ TV' Radio Overseas News/ Features Local Co News International Co News P 5 Local Overseas Stocks P 2 Commodities Transport A Communip .1 cations P 4 Features Local Stocks p News Overseas PI 1. 12
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    • Advertisement
      Page 1 Advertisements Column 2
      186 1 INDUSTRIAL COMMERCIAL Properties For Sale/To Let INDUSTRIAL Gul Drive: 828 m (8,913 sq. ft.) new single storey factory/offices for sale. Off Upper Thomson Road: 566 m (6,100 sq. ft.) to 905 m 2 (9,750 sq ft.) factory/warehouse units to let. Lokyang Way: 2,080 m (22,400 sq. ft.) single storey factory/warehouse/
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      Page 1 Advertisements Column 3
      6 1 "@{?:){:]{-@'>_&!|:[$=^.?!.-{.% SEE BACK PAGE SEE PAGE 10
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      Page 1 Advertisements Column 4
      140 1 Singapore *****55,*****5 (Airport) Kuala Lumpur *****0, *****6 Penang ***** SEE BACK PAGE Texas Instruments PRICE BREAK l; we share the saving through volume production with our customers $99-50 V I» Bus ness Ana/ Off COM* w 53^ CST S€. tsj B3 r -r 7c*as Instruments St o Or •a A
      140 words
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  • OVERSEAS
    • Article
      Lock icon March oil imports distort trade picture
      254 2 Reuter WASHINGTON. Thurs. Courtnay Slater, chief economist at the Commerce Department, said the US trade picture was severely distorted in March when oil imports rose as the oil companies rebuilt inventories depleted by the severe winter weather in January and February. Earlier yesterday, the
      Reuter  -  254 words
    • Article
      Lock icon Movement of gold is mere book-keeping
      133 2 Reuter WASHINGTON. Thurs. US Tre usury UnderSecretary for Monetary Affairs Anthony Solomon said recent movements of gold from the Treasury's gold account to the Exchange Equilisation Fund were book-keeping actions. In the last two months. US$22 million (5554.1 million) of gold, valued at the
      Reuter  -  133 words
    • Article
      Lock icon Democrats make life hard for Carter
      732 2 SOME JOIN FORCES WITH REPUBLICANS AP WASHINGTON, Thurs. President Jimmy Carter and the heavily-Democratic Congress are on the brink of confrontation over several national policies and could become ttostfle "p--yielding adversaries during the four years Mr. Carter Is due to occupy the White House.
      AP  -  732 words
    • Article
      Lock icon NEW BILL ON STOCKPILE FOR SENATE
      349 2 Reuter WASHINGTON. Thurs. A new strategic stockpile Bill, based on net US imports of materials for three years, will be introduced shortly in the Senate by Senator James McClure, an aide to the Senator said. The aide, who is presently preparing the legislation, told
      Reuter  -  349 words
    • Article
      Lock icon BURNS AT MEETING
      64 2 Reuter WASHINGTON, Thurs. President Carter held the first of his promised j monthly meetings with economic advisers, including Federal Reserve i Board chairman Arthur Burns, the White House said. The President said, in outlining a series of antiinflation proposals recently. that he would confer with them once
      Reuter  -  64 words
    • Article
      Lock icon 'No ill effects'
      201 2 Reuter WASHINGTON, Thurs. The Data Resources Inc's forecast of economic activity for the remainder of the year indicates the US economy should show no ill effects from either the harsh winter, abandonment of the tax rebate or the President's energy proposals, economist Otto Eckstein said. Mr Eckstein,
      Reuter  -  201 words
    • Article
      Lock icon Treasury to cut debt by $4.9 bil
      199 2 Reuter WASHINGTON. Thurs. The Treasury Department said it will reduce its debt by about US$2 billion (554.9 billion) in the second quarter. But it intends to raise between Sl2 billion and $15 billion of new cash in the third quarter of the year.
      Reuter  -  199 words
    • Article
      Lock icon Fed reports loans rise by $408m
      102 2 Reuter WASHINGTON. Thurs. US commercial and industrial loans outstanding rose by US$l63 million (*****.5 million) to $117.58 billion in the week ended April 20, the Federal Reserve Board said. This was $4.17 billion higher than the level of business loans outstanding in the same
      Reuter  -  102 words
    • Article
      Lock icon US halts arms for Ethiopia
      84 2 Reuter WASHINGTON, Thurs. the US temporarily stopped delivery of nearly US$lOO million (***** million) in arms to Ethiopia following the Ethiopian authorities' order closing most US facilities there, US Government sources said. The White House decision covered previously approved requests for military equipment, the sources
      Reuter  -  84 words
    • Article
      Lock icon Check up
      61 2 AP WASHINGTON, Thurs. General Kriangsak Chamanand. deputy-Commander in Chief of Thailand's armed forces, arrived here from New York yesterday, according to Thai embassy sources. The Thai military official will undergo a medical checkup at the US army's Walter Reed Hospital and confer with US military officials at the
      AP  -  61 words
    • Article
      Lock icon US court starts hearing on Concorde issue
      331 2 Reuter NEW YORK. Thurt. British Airways and Air France go to court here today in an attempt to end months of wrangling with the Port Authority of New York and New Jersey over New York landing rights for the Concorde supersonic airliner. The
      Reuter  -  331 words
    • Article
      South Koreans are one step ahead in West Asia
      640 2 MANAMA (Bahrain), Thurs. Under "new heart, new determination" signs. 1,600 South Koreans are racing with drillfield discipline to perform the unusual completing a major West Asian construction project ahead of schedule. In the first foray of an aggressive raid into the
      640 words
    • Article
      Lock icon Successful relaunch of N-S talks
      376 2 Reuter PARIS. Thurs. The two co-chairmen of the NorthSouth dialogue said today they have successfully relaunched the stalled economic negotiations between rich and poor nations. The 27-member negotiations. designed to point the way to a fairer world economic systems, had been stalled for five months
      Reuter  -  376 words
    • Article
      Lock icon UAE stance unchanged
      206 2 Reuter ABU DHABI. Thurs. The United Arab Emirates (UAE) has no immediate solution to the Opec twotier oil price system, but is ready to accept any compromise UAE Oil Minister Mana Said Al-Oteiba said. He told Reuter in an interview four days before a scheduled visit to
      Reuter  -  206 words
    • Article
      Lock icon KL buying Thai rice
      87 2 Reuter BANGKOK. Thurs. Malaysia is negotiating to buy a total of 66,000 tonnes of various grades of Thai rice on a government-to-government basis, the daily Trade News, an official organ of the Commerce Ministry reported. Quoting Chumpol Dhammacharl, director- general of the Foreign Trade Department, the
      Reuter  -  87 words
    • Article
      Guilder's strength overdone in forex marts
      166 2 WASHINGTON,. Thurs. Senior Dutch officials here said the guilder's strength in foreign exchange markets over the past few days has been overdone. The officials, attending meetings of finance ministers, noted the Dutch Government had no plans to revalue the guilder within the joint European
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    • Article
      Lock icon CBI renews call for wage restraint
      154 2 Reuter LONDON. Thurs. Confederation of British Industry president Lord Watkinson renewed the appeal by British employers for a third year of voluntary wage restraint. Mr. Watkinson, speaking to parliamentary reporters, said the Government should aim for a wage policy consistent with bringing inflation down
      Reuter  -  154 words
    • Article
      Lock icon Rome visit
      36 2 UPI ROME. Thurs. A Vietnamese Foreign Trade Ministry delegation arrived in Rome yesterday for a five-day visit to discuss prospects for trade relations with Italy. It was led by Vice-Minister Nguyen Van Dao. UPI.
      UPI  -  36 words
    • Article
      Lock icon Employers give Barre package the nod
      216 2 Reuter PARIS. Thurs. The French employers federation. the Patronat, said It approves of the measures contained in the economic package announced by Prime Minister Raymond Barre on Tuesday yesterday for tackling unemployment and increasing aid to families and old people. But it added in
      Reuter  -  216 words
    • Article
      Lock icon BACK TO SQUARE ONE FOR UK INDUSTRY
      171 2 UPI LONDON. Thurs. After recording in 1976 the lowest number of strikes for nine years. British industry seems intention blotting its copybook. Department of Employment figures published today show that in March this year 1,116,000 working days were lost through strike action. It
      UPI  -  171 words
    • Article
      Lock icon Norwegian oil reserves
      77 2 Reuter OSLO, Thurs. Total reserves of oil and gas in the Norwegian sector of the North Sea are now estimated at 1.3 to 1.7 billion tonnes oil equivalent, but far greater reserves should be exploitable, deputy managing director of Stu»oi> ll«'nrik AfcerHanssen saiu. He said in a
      Reuter  -  77 words
    • Article
      Lock icon Differences in OECD payments still too large, says Bundesbank
      540 3 FRANKFURT, Thursday Reuter THE Bundesbank said the differences in current account balance of payments positions posted by OECD member countries are still far too great, although some progress towards reducing them was made last year. In its annual report the Bundesbank
      Reuter  -  540 words
    • Article
      Lock icon Washington and Havana pact on fishing zones
      334 3 Reuter HAVANA. Thurs. The United States and Cuba reached a settlement on their overlapping fishing zones at their first official direct talks in 16 years, an official Cuban statement said today. The Foreign Ministry said two agreements were signed here fast night after
      Reuter  -  334 words
    • Article, Illustration
      Lock icon Don't drop $60 bil support fund concept
      588 3 GROUP OF 10 AGREES Reuter WASHINGTON, Thurs. British Chancellor of the Exchequer Denis Healey said here that the Group of 10 agreed last night that the US$25 billlon(SS6o billion) support fund for member countries of the Organisation for Economic Cooperation and Development should
      Reuter  -  588 words
    • Article
      Lock icon CIPEC ministers to meet in Paris
      149 3 Reuter PARIS, Thurs. The Intergovernmental Council of Exporting Countries (CIPEC) will hold an extraordinary conference of ministers here on June 20 and 21, sources close to the council said. They told Reuters the conference will discuss changes In the basic copper price formula aimed
      Reuter  -  149 words
    • Article
      Lock icon CUBA KEEN FOR U.S. INVESTMENT
      456 3 HAVANA, Thurs UPI COMMUNIST Cuba needs and wants direct United States foreign Investment once again. The government has approved plans for a more than US$5O million (Ssl2o million) building programme to return Cuba to its position as No. 1 in Caribbean tourism. But it does
      UPI  -  456 words
    • Article
      Lock icon South African exports fall
      217 3 Reuter CAPE TOWN, Thurs. South Africa's exports in first quarter 1977 fell substantially from the previous quarter's 1.1 billion rand, the head of the economic section of the Reserve Bank Mr. Braam Van Staden said. He told a federated chambers of industries executive meeting this reversal
      Reuter  -  217 words
    • Article
      Lock icon Italian deficit increases
      108 3 Reuter ROME. Thurs. Italy had a provisional overall balance of payments deficit on a cash basis of 839 billion lire in March, after an upwards revised February deficit of 678.3 billion lire, the Bank of Italy said. In March 1976 Italy had an overall payments deficit of
      Reuter  -  108 words
    • Article
      Lock icon World Bank asked to use loan guarantee power
      308 3 Reuter WASHINGTON, Thura. Chairman of the development committee Ceaar Virata said here the committee recommended the World Bank should use its powers to partially or fully guarantee loans its member countries wished to raise on the world's capital markets. At a press
      Reuter  -  308 words
    • Article
      Philippine jobless
      70 3 MANILA. Thurs. Philippine labour secretary Bias Ople has estimated that about 818,000 Filipinos would be Jobless by 1985. or about 3.9 per cent of the projected labour force of 21 million that year. In a speech before the Association of Embroidery and Apparel Exporters yesterday, Mr. Ople said
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    • Article
      Lock icon Call for economic expansion by industrial nations
      470 3 WASHINGTON, Thurt. Reuter FINANCE ministers of 24 developing countries urged those Industrial countries with a balance of payments surplus to pursue adequate expansion policies to sustain the world economic recovery. A communique Issued today following Tuesday's meeting pointed out the annual rate of
      Reuter  -  470 words
    • Article
      Lock icon Factors that hamper West German investments
      304 3 Reuter FRANKFURT, Thurs. West German industry's readiness to Invest is being hampered by anxiety over energy supplies and costs, rising wage costs and the increasing need to comply with environmental protection requirements, the Bundesbank said. Future Job availability depends mainly on how quickly corporations
      Reuter  -  304 words
    • Article
      Lock icon US plans to scale down aid to Portugal
      197 3 Reuter WASHINGTON, Thurs. The United States State Department said yesterday the Carter Administration plans to scale down sharply its proposed lending programme designed to help Portugal battle a persistent balance of payments problem. Mr. Paul Boeker, Deputy Assistant Secretary of State for
      Reuter  -  197 words
  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      184 2 COLLECTINQ Oriental fINTio^EJ by Judith Moorhouse and Dries Blitz Hamlyn Group, London. Oriental antiques have always fascinated collectors throughout the world, evoking as they do the exotic and Inscrutable East. It Is, however, widely believed that they are too expensive for the average collector. This myth Is perpetuated by all
      184 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      51 2 n WEATHER report for 24 houra prior to 7.30 p.m. on April 28 at Singapore airport. Maximum Temperature 32.9° C Associated Humidity 54 Minimum Temperature 25.2° C Associated Humidity 94 Hours of Sunshine 5.55 Rainfall in Millimetres Nil Total Rainfall for the Month 16.6 Total Rainy Days for the Month
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    • Miscellaneous
      Page 2 Miscellaneous Column 2
      311 2 RADIO TV SINGAPORE 3.00 P.M. Opei Announcements followed by rr jsewives' Matinee The Little Flowers In Tears (r) with superimposed English/ Chinese subtitles Pt. 2 of a Mandarin film 4.00 Diary of Events (Chinese) 4.05 The Beverly Hillbillies Italian Cook (r) 0 4.30 Intermission 6.05 PM Opening Announcements followed by
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  • Page 3 Advertisements
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      Page 3 Advertisements Column 1
      229 3 CT2 K presents 1 Maxim s very NXV own chefs and Maitrc d'Hotel from left to right: Bruno Stril, Claude Lelievre. Alain Privys Lfeon Chanel A great uay to fly SINGAPORE A/RUNES i/rant/ann QD Ia tke tradition of caterers. For lunch, come to our "APRIL IN PARIS" buffet And feast
      229 words
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  • COMPANY NEWS
    • Article
      Profit at Ajinomoto (M) sets another new high
      541 4 THANKS to higher sales, Ajinomoto (Malaysia) was able to turn In another record profit for the year ended Dec 31. 1976. The company recorded a 13.4 per cent rise In group pre-tax profit to M 53.3 million during the year under review,
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    • Article
      DIVIDENDS ANNOUNCED
      614 4 Current Ex Date Total for Total for payment Date payable the year previous year Bedford Plantations 22% Apr 13 Apr 29 22% 20% (I.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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    • LATEST RESULTS
      • Article
        ULU BENUT CONSOLIDATED INDUSTRIES (M)
        156 4 —Unaudited Group pre-tax profit M 5204.319 ($293,411) on sales of $917,632 ($956,272) for the first halfyear ended Feb 28, 1977. Profit includes dividend and loan interest income of $60 (52) and $42,130 ($44,841) respectively. Minority interest $89,573 ($109,463) leaving attributable profit at $114,746 ($183,948). Company
        156 words
    • Article
      PMI assets over estimated: Receiver
      549 4 THE receiver of Pan Malaysia Industries has described the directors' estimated realisable value of Its assets at $7.49 million as "over optimistic". According to the directors' statement of the company's affairs at Jan 25, 1977 this compares with a total book value of $4.04 million.
      549 words
    • Article
      Bumiputra participation in Malayan Oxygen
      451 4 BUMIPUTRA institutions have subscribed for 2.75 million new shares of MSI each representing about 25 per cent of the paid-up capital of Malayan Oxygen, a producer of Industrial gas. All the offered shares have been paid for by the bumiputra institutions except for a block
      451 words
    • Article
      Rolinco
      142 4 ROLINCO, a Dutch company which invests internationally in company shares, has subscribed a further 666.666 shares in United Overseas Bank raising its total holdings to 2.67 million shares at endFebruary this year. The company notes in its iterlm report, that "due to an active Investment policy, opportunities to Invest
      142 words
    • Article
      Lock icon Carter's energy plan poses dilemma for utilities
      844 4  -  By BEN A. FRANKLIN NYT IF President Carter's energy proposals become law In Congress, some of the nations major electric utilities are going to be left with an unwanted home on the range. The utilities sensation of having bought the wrong scenery too
      NYT  -  844 words
    • Article
      Lock icon Babcock unhappy over merger popularity
      507 4 NYT NEW YORK, Thurs. Babcock and Wilcox, which stands to gain much from the Carter energy programme as a builder of nuclear power plants and as a converter of 011-flred Rower plants to coal. Is the ottest merger candidate In town much to the company's
      NYT  -  507 words
    • COMPANY MEETINGS
    • Article
      Lock icon Asarco expects results to improve
      215 4 Reuter NEW YORK. Thurs. Asarco expects 1977 year results will show significant improvement over 1976. chairman Mr. Charles F. Barber told the annual meeting. Asarco earned US$l.5B per share in 1976. In 1977 first quarter, the company earned $8.05 million on 30 cents per share
      Reuter  -  215 words
    • Article
      Lock icon Shell request rejected
      89 4 Reuter LONDON. Wed. Shell Transport and Trading said its application for exemption from dividend restraint has been rejected by the UK Treasury and no fresh application Is presently before the authorities. The possibility of making a further application cannot be ruled out, a company official said. UK
      Reuter  -  89 words
    • Article
      Rubber output
      87 4 March 1977 Kilograms Austral Enterprises 24,040 Benta Plantations 148,000 Castlefleld 166 470 Consolidated Plantations 1,605,000 Dunlop Estates 1,453,660 Glengowrle 34 827 Golden Hope 901 569 Guthrie Ropel 442 000 Holyrood 58 060 Hongkong (Selangor) 22,226 Inch Kenneth Kajang 80,287 Kempas(M) 383 000 KlUlnghall (Rubber) 21,319 Klnta Kellas 208
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    • Article
      Oil palm
      74 4 March 1977 FEB Oil Kernel Tons Tons Tons Austral Enterprise.. 720.00 183.00 Benta Plantations 7,614.00 1.522.00 305.00 Castlefield 243.73 48.75 Consolidated Plantations 41,849.00 8,370.00 1,674.00 Dunlop Estates 3,914.00 842.00 Golden Hope 3,739 23 735.46 Guthrie Ropel 2,332.00 620.00 Inch Kenneth Kajang 53.03 15.45 Kempas(M) 8,145.00 1,629.00 326.00 Kuala
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    • Article
      Copra and cocoa
      18 4 March 1977 Copra Cocoa Tons Tons Dunlop Estates 147.00 Golden Hope .465.77 385.27 Pataling 7.53
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    • Article
      CHICAGO BOARD OPTIONS
      1333 4 On April 27 TRADING In options of the Chicago Board Options Exchange on Wednesday came to 92,519 contracts compared with 95,109 contracts on Tuesday. OPTION JLY OCT JAN STOCK Alcoa Alcoa Am Tel Am Tel Am Tel AtlR AtlR Avon Avon Avon Bank Am Bank Am Bank
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      78 4 Asean Business Quarterly A 72-page quarterly magazine, with no advertisements, costing SSIO (US$4). It includes trends, up-to-date statistics (200 tables) and comment as a guide to financiers, investors* shippers and traders with interests in ASEAN countries. Write for a 16-page illustrated booklet free of charge. Asia Research Pte. Ltd. P.O.
      78 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon Mitsubishi Metal may declare force majeure
      178 5 Reuter TOKYO, Thurs. Mitsubishi Metal said it will have to declare force majeure to cut or suspend its export shipments of selenium next month if the recent walkout by workers at its selenium refinery in Osaka becomes drawn out. Workers at the refinery went
      Reuter  -  178 words
    • Article
      Lock icon National Steel declines
      142 5 AP PITTSBURGH. Thurs. National Steel, the no. 3 US steel producer, joined other major steelmakers in reporting lower first quarter earnings this year, and added its voice to a call for higher prices. "We must deal with mounting inflationary costs at all levels," chairman Mr. George A.
      AP  -  142 words
    • Article
      Lock icon Dow Banking
      37 5 Reuter ZURICH, Thurs. Dow Banking Zurich will float a 40 million franc 4'2 per cent 10 year loan at 99 per cent on the Swiss market from May 3 to 9, Schweizerische Bankgesellschaft said. Reuter
      Reuter  -  37 words
    • Briefly
      • Article
        Reckitt
        73 5 LONDON Thur* —Reckitt and Colmaw .aid its final dividend recommendation will be changed because of the conditional reduction in the basic rate of UK income tax. The recommendation will be 8 208 pence of which 5.3352 0 net will, as previously announced, be paid on July 12. If the
        73 words
      • Article
        Nordic
        65 5 LONDON. Thurs. Copenhagen Handelsbank has become the fourth shareholder in Nordic Bank, the Scandinavian banking group based here announced. The Danish bank will join Nordic on an equal footing with the three existing shareholders. Den Norske Greditbank of Oslo, Kan-sallis-Osake-Pankki of Helsinki and Svenska Handelsbanken of Stockholm. Nordic's shareholders'
        65 words
      • Article
        PTT
        49 5 SAN FRANCISCO.Thurs. Pacific Telephone and i elegraph said directors approved the authorisation of a new class of 12 million shares of US$25 par value non-voting preferred stock. Plans to issue the preferred stock were disclosed by Pacific Telephone president Mr. Gordon Hough to shareholders at the annual meeting
        49 words
      • Article
        Nomura
        73 5 TOKYO. Thurs. Nomura Securities announced it would lower the yield to maturity of ten-year corporate bonds, double A grade, to 8.090 per cent 8.693 per cent previously, starting from May issues. This will be achieved by lowering the coupon rate to eight per cent from 8.6 per cent previously,
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      • Article
        Monsanto
        29 5 ST. LOUIS, Thurs. Monsanto said its board increased the quarterly dividend to 77'/» US cents from 70 cents, payable on June 10 to stockholders registered by May 12.
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    • Article
      Lock icon Record profit at General Motors
      329 5 Reuter DETROIT, Thurs. General Motors reported record sales of US$l3.6 billion in the first three months of 1977, and said profit totalled $903 million, a new record for any first quarter. The automotive giant cited strength in the national economy in reporting a sales rise
      Reuter  -  329 words
    • Article
      Lock icon Chrysler higher
      369 5 Reuter DETROIT, Thurs. Chrysler reported a 4.5 per cent gain in net profit for the first quarter this year and said two new models should help the third largest US car maker a greater share of the market this year. Net earnings totalled U5575.4 million or $1.25 a
      Reuter  -  369 words
    • Article
      Lock icon W-Burmah reports on N.W. Shelf gas
      203 5 Reuter MELBOURNE. Thurs. North West Shelf offshore natural gas should come on steam by 1984 if current discussions with government were successful. WoodsideBurmah chairman Mr. J. G. Donaldson said. He told the annual meeting earlier planning was for 1983 but complex negotiations on the
      Reuter  -  203 words
    • Article
      Lock icon CSR proposes new sugar package
      686 5 Reuter SYDNEY. Thurs. CSR said it put a proposal to the Long Term Contract (LTC) for the supply of Australian raws. CSR deputy general manager Mr. Jack Campbell said in a statement. the package broadly proposes a cut in the contract price from July 1,
      Reuter  -  686 words
    • Article
      Lock icon Pan Am incurs more losses
      182 5 AP NEW YORK. Thurs. Pan American World Airways Incorporated said its losses widened in the first quarter this year to US$24.l million from $1.6 million in the last quarter of 1976. In the first quarter of 1976, Pan Am lost $51.1 million. Operating revenue rose
      AP  -  182 words
    • Article
      Lock icon Mobil suffers slight fall
      169 5 Reuter NEW YORK. Thurs. Mobil reported first quarter profit of US$2l9 million, or $2.07 a share, compared with $213 million, or $2.09 a share, on fewer shares, for the same period last year. It attributed the decline in first quarter earnings largely to its Montgomery Ward
      Reuter  -  169 words
    • Article
      Shell
      65 5 HOUSTON, Thurs. Shell Oil said more than half of this year's projected capital spending budget of US$l.B billion will be used to explore and develop crude oil and gas properties. Most of the remainder will be used for oil and chemical products, with an emphasis on chemical manufacturing, the
      65 words
    • Article
      First quarter rise at Getty
      134 5 LOS ANGELES. Thurs. The Getty Oil reported a 33 per cent Increase in its first quarter profit and attributed the rise to the start up of sales of oil from its North Sea operations. The company reported 1977 first quarter earnings of U5581.77 million, or
      134 words
    • Article
      Lock icon Exxon deal
      82 5 Reuter RIO DE JANEIRO, Thurs. Exxon signed an oil exploration contract with the Brazilian state petroleum monopoly company Petrobras, a Petrobras spokesman said. The contract covers 5,650 sq km on the continental shelf off the Rio coast. Work will be carried out bv Esso Prospeccao Do Brasil, an
      Reuter  -  82 words
    • Article
      Lock icon Texaco enjoys 8pc earnings increase
      612 5 Reuter BLOOMINGTON, Minnesota, Thurs. Texaco, reported an 8.4 per cent Increase earnings for the first quarter this year. Texaco, one of the three leading US oil companies, said it earned U*****.6 million, or 89 cents a share, up from the $223.7 million, or 82 cents
      Reuter  -  612 words
  • Page 5 Advertisements
    • Advertisement
      Page 5 Advertisements Column 1
      1033 5 loronto Dominion Bank. Statement of Accounts for year ended 0ct0ber31,1976. Note: All figures quoted in Canadian dollars. Statement of revenue and expenses For the year ended October 31, 1976 (with comparative Figures for preceding year) Revenue 1976_ Income from loans 1.083.547.850 Income from securities 114.086.272 Other operating revenue 100.548.419 Total
      1,033 words
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  • Article
    Share Information Service
    2218 6 Gr't mrnrnm Gr'» Net wm mmamm 1»77 La it div Div y'ld P/E Vol Day High Low Company Sale +or- c'vr 000) High Low SECTION ONE INDUSTRIALS 146 136 Ac ma 143 12 ON 1.1 8.3 7.2 133 127 Acma A 129 12.ON 1.1 9.3 6.5 204
    2,218 words
  • Article
    Transactions in Singapore
    1059 6 BID and offer prices officially listed and business In and reported to the Stock Exchange of SlruraDore 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
    1,059 words
  • Article
    In Kuala Lumpur
    1339 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 (1 458). AJinamata (2 02S) (1) 1 99. CO. Aicam
    1,339 words
  • Article
    Stock options
    94 6 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer price* and bu*inea* done yesterday, with the number of options traded shown in brackets. D.B.S. (June $3.90) (0 02B) (1) 0.02: (Sept $3 60) (0.20B): (Dec $3 60) (0.30B)
    94 words
  • Article
    Unit trusts
    147 6 SINGAPORE UNIT TRUST (Managers' price* for Apr 2*) The Commerce.... 1 88 178 The Saving Fund 0.85 0 90 S'pore Prog Fund 0.76 0.81 S pore Security Fund 1.41 1 48 S'pore Invest Fund 0 98 1 04 ASIAN UNIT TRUST (Managers' price* for Apr 29) Mai Invest
    147 words
  • Article
    Corporate bonds
    187 6 BOTH 1/2% 1981 (100,000) (102 3 «B 103 US) D B S 8 1/2% 1982 (100,000) OOOViB 100*»S) DBS Converts 6 1/2% 1991 (100,000) (97'18 98S) E I B 9% 1982 (100,000) (103 v,B 104S) E 1 B 8 1/4% 1983 (100,000) (IOO'iB 101 V.S) I B J
    187 words
  • Article
    Domestic govt bonds
    121 6 5 1/2% 1/4/78 (250,000) (101.458 101 535) 5 1/2% 15/4/78 (250,000) (101.35B) 5 1/4% 15/7/78 (250,000) <101 488 101 555) 4 3/4% 1/5/79 (250.000) (100. TOB 100 80S) 7% 1/7/79 250,000) (104 658) 5 1/4% 15/10/79 (250.000) (101 608 101 755X2)101.65 6 3/4% 15/6/80 (250,000) (103 30B)
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  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      208 6 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 book is devoted to the full text of fifteen essential labour laws
      208 words
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  • Article
    Ben features in dull mart
    587 7 THIRD liner Ben featured in generally quiet and dull trading at the Stock Exchange of Singapore yesterday. From its previous closing level of 63 cento, the share moved strongly ahead to 75 cents on a turnover of more than ISO,OOO units. Bargainhunting was said to
    587 words
  • Article
    Prices advance marginally
    453 7 PRICES rose a shade higher on some renewed interest at the Kuala Lumpur Stock Exchange yesterday. Following Wednesday's marginal advance, the market maintained a fairly steady pace throughout the day. and finished with marginal gains across the boards. Traces' of profit-taking, however, was evident in a few
    453 words
  • Article
    Complying with ruling
    70 7 LONDON, Thurs. The Kuwait investment office disclosed further UK share stakes held by nominees, to comply with the 1976 Companies Act which enforces disclosure of holdings of more than five per cent. The holdings Include Bridon 5.65 per cent, TransOceanic Trust 9.3 per cent, Berry Trust 9.86
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  • WALL STREET AND OTHER OVERSEAS MARKETS
    • Article
      New York
      1176 7 NEW YORK: Bargain hunting and good news on the economy lifted stock prices higher In fairly active trading on Wednesday. A government report that productivity In the US private sector rose at an annual rate of 3.2 per cent In the first quarter provided some encouragement, analysts said.
      1,176 words
    • Article
      Paris
      403 7 PARIS: Shares of market sector leaders Carrefour Supermarches SA and Rouaael Uclar 8 A were unquoted because of an imbalance of buying and selling orders In the opening minutes of Paris bourse trading, bourse sources said. The first 12 shares traded all moved lower In an apparently pessimistic reaction
      403 words
    • Article
      Sydney
      419 7 SYDNEY: The market turned higher in the afternoon after a dull morning, dealers said on Thursday. The Sydney All-Ordinaries Index rose 3.05 points to close at 435.17. Among minings, Audimco rained 13 cents to $1.38, Peko Wallsend 10 cents to $5.20. CRA four cents to 13.22, MT Im two
      419 words
    • Article
      Amsterdam
      304 7 AMSTERDAM: Market was generally weaker with Royal Dutch leading Dutch Internationals lower dealers said on Wednesday Akaao and Philip* lost some ground, but Hoogovoas and Unilever firmed. Changes were mostly limited elsewhere, but losses slightly predominated. Malor losses were Amfas, VMF and Deli. Bob, Gieaaen headed gains. Stateloans were
      304 words
    • Article
      Jo'burg
      383 7 JOHANNESBURG: Gold shares were harder toward the close after an easier start, although trade remained quiet in all sectors, dealers said on Wednesday Financial minings were quietly steady, with Anglos moving three cents off the bottom to rule two cents softer at 378 and most other trades at closing
      383 words
    • Article
      Tokyo
      491 7 TOKYO: Prices closed higher, led by electricals and some blue chips, recovering after the retreat of the past five days, dealers said on Thursday. The Dow Jones average gained 7.09 to close at 5,099.05 with Volume 190 million shares. The new index closed at 379.93, up 0.81. Wall Street's
      491 words
    • Article
      Zurich
      300 7 ZURICH: The market closed Irregularly higher, partly recovering from recent sharp declines, dealers said on Wednesday Except for actively-traded leading banks which recouped about half of Tuesday's heavy losses, activity In remaining sectors was rather quiet. Among irregular flnanclals Bally bearer. HaMstbaak and Ooriikon-Bnahrk firmed, while Intarfaod B and
      300 words
    • Article
      Hongkong
      407 7 HONGKONG: The market closed mixed after a slightly firmer opening In dull trading, dealers said on Thursday. The Hang Seng index rose 1.03 points to 443.53. Among leading stocks Jardine Matheaon rose HK 20 cents to $16.90 and Hongkong Land 10 cents to $7.50. Swire Pacific fell five cents
      407 words
    • Article
      Toronto
      301 7 TORONTO: The market closed higher In light to moderate trading with the composite Index up more than two points and advances ahead of declines 218 to 157 on Wednesday. Shell Canada gained 1/4 to 14-1/8. The company raised Its semi-annual dividends. Wajax A rose 1/4 to 14-1/4 on improved
      301 words
    • Article
      Frankfurt
      325 7 FRANKFURT: Shares closed higher In active trading due to a technical reaction, market sources said on Wednesday In oars, Daimler, VW and Mercedes Holding gained between three and 4.50 marks and BMW rose nine, all on rising demand from domestic and foreign Investors. Engineerings gained up to four marks.
      325 words
    • Article
      Milan
      175 7 MILAN: The market closed easier over a broad front In rather quiet trading, influenced by technical liquidation factors, dealers said on Wednesday Leading industrials were generally mixed with Fiat and Snia Viaooaa marginally higher, Montedison barely unchanged while Anic, both Pirelli and Olivetti were easier. Aaaicurazioni General! gained in
      175 words
    • Article
      Brussels
      157 7 BRUSSELS. Most share prices rose In quiet trading on lower volume, bourse sources said on Wednesday. Reserve, Soflna, Electrobel, Traction, Vieille MoaUpw, FN, Clabecq and Cometra rose while Asturienne, Cockerill, FN and Arbed fell. In foreign stocks, UK rose and most US were higher but Dutch, German, Canadian and
      157 words
    • Article
      Manila
      102 7 APR S. Pesos Acoje Mining Atlas Con. A Atlas Con. B .014 33 75 33 75 -0 0005 unch -0 25 Bagulo Gold Benguet Con B BF Goodrich CDCP Inco B LepantoB .011 20 90 .1475 unch +0 9 +0 0025 Marlnduque B Meralco Oriental A Oriental B 6.05
      102 words
    • Article
      Bangkok
      96 7 APR S Bahts Asia Fibre 165 -2 Bangkok Bank 287 -6 Bangkok Invest. 176 -3 Bangkok "Metropolitan Bank Bata 417 -5 BtrllJucker 235 Charoong Thai Wire Dumex Duslt Than! Faber Merlin First Trust Indo-Thai Industrial Finance Corp 1195 -10 J And J Ho 230S -1 Jalaprathan Cement 114 -10
      96 words
    • Article
      Indices
      63 7 FINANCIAL TIMES INDUSTRIALS Wednesday 427.4 Tuesday 421.0 Week ago 412.5 DOW JONES AVERAGE INDUSTRIALS Wednesday 923.76 Tuesday 915 62 Week ago 942.59 LONDON DOLLAR PREMIUM Wednesday 123*4 to 124*4 Tuesday 123% to 124% H.K. HANG SENG Wednesday 442.50 Tuesday 442.75 Week ago 445.46 SYDNEY INDUSTRIALS Wednesday 349,76 Tuesday 350
      63 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      176 7 Confront Singapore's decision makers in Business Times For only $3.50 per single column centimetre Business Times, Singapore's new financial daily, offers you the most costeffective medium to reach Singapore's top businessmen. The decision makers of industry and commerce. Politicians, civil servants, the media and more. It's people like these who
      176 words
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  • COMMODITY REPORTS AND PRICES
    • Article
      Local and foreign rubber markets
      843 8 IN the Singapore rubber market yesterday, prices were marked down fractionally at the outset, but some speculative buying and reports that a new US stockpile bill is to be introduced shortly in the Senate boosted the market, dealers said. Towards the morning close, profit-taking reduced
      843 words
    • Article
      Closing prices
      30 8 Rubber: April 28 Singapore: May 197.50 cts (up 2.75 cts.) Malaysia: May 198.75 cts (up 3.75 cts) Tin: $1,461.00 (up $1.00) Official offering: 250 tonnes (up 45 tonnes)
      30 words
    • Article
      SSR and SMR
      114 8 M»y June R.A.S. (Current Mlh) (Forward Mtii) Buyer* Seller* Buyer* Seller* (cent* per kg) (eenU per k«> SSR 20 (1 ton Pallet) 193 00 194 00N 194 00 195 00N SSR50 (1 ton Pallet) 191 00 192 00N 192.00 193 OON M.R.EL.B SMR5CV —ton Pallet) 219.50 221
      114 words
    • Article
      Straits tin
      200 8 THE Straits tin price in Penang yesterday was up $1.00 to $1,461.00 per picul on an official offering up 45 tonnes to 250 tonnes. In LONDON yesterday morning, tin rose by mostly £20 in both contracts. However, dealers could find little fresh feature. Values tended to edge higher
      200 words
    • Article
      Palm Oil
      123 8 THE following Palm Oil prices were quoted In London on Wednesday The prices are elf Rotterdam and are quoted In US dollar per ton unless otherwise stated Wednesday Prev. Malaysia 5% ffa bulk Jun/Jly unch 662 sir Sumatra 5% Apl unch 665 pd May 675 sir 670 pd
      123 words
    • Article
      Produce prices
      274 8 CHINESE PRODUCE EXCHANGE, SINGAPORE NOON CLOSING PRICES PER PICUL YESTERDAY. Coconut Oil: Bulk SllO sellers, old drum SI IS sellers, new drum $120 sellers Copra Mixed (loose) UK Corn $71 buyers. Pepper: Muntok ASTA white f.o.b. 100% NLW $397' i sellers. Sarawak white fob 96% NLW $377' i
      274 words
    • Article
      Gold
      384 8 IN the Singapore gold market yesterday, the kilobar changed hands In the range of 5511.670 to SSI 1,700. Trading was brisk and demand was felt throughout the day. The loco London gold opened at U*****.70/ 147.00 and on small scale selling went to U*****.30/ 146.60 before recovering at the
      384 words
    • Article
      Silver
      170 8 LONDON, Thurs. Silver eased 2.8 to 4.2 pence per troy ounce in the morning. Prices were marked down in the pre-market reflecting the overnight drop In New York and lower gold, dealers said. But the market ruled steady at the lower levels in Ring trading as modest long liquidation
      170 words
    • Article
      Rice
      215 8 BANGKOK, Thurs. Indicative prices quoted for rice are: US dollars p«r tonne fob basis Bangkok White Rice: 100 per cent Ist class 286 100 per cent 2nd 268 100 per cent 3rd 264 5 per cent 254 10 per cent 233 15 per cent 230 20 per cent 227
      215 words
    • Article
      Coffee
      406 8 LONDON, Thurs. Robusta futures ended the opening session irregular, £27 up (May £3,570) to £15 down on last night. Prices fluctuated widely in nervous trading but closed the morning quiet, £52 to £69 down from last night. Volume was 1,689 lots. July having lost up to 1110 at £3,520
      406 words
    • Article
      Soybeans
      159 8 CHICAGO. Wed. Old crop soybean futures closed with limit losses of 30 cents a bushel for the third consecutive day as liquidation continued to depress the market. September also lost 30 cents, while other new crop months dropped 19 to 21 cents. Prices advanced in early dealings on speculative
      159 words
    • Article
      Wheat
      103 8 CHICAGO, Wed. Wheat futures closed with losses of 3*« to 2\ cents a bushel, finishing the session at the day's lows and Just above seasonal lows. Light buying Interest brought small early gains before prices turned downward when upward momentum was lost and the weakness of soybean futures became
      103 words
    • Article
      Sugar
      289 8 LONDON, Thurs. Sugar futures ended the opening call fractionally above last night's kerb levels due to sporadic short-covering but were still down from yesterday's close by £3.35 (May 1978 at £147) to £2.60. ine u>naon daily raws price was down £6 at £139 while whites were £3 lower at
      289 words
    • Article
      Copper
      329 8 LONDON, Thurs. Copper wirebars fell £8.50 for Cash and £9 for Three Months in the morning. Dealers said prices lost ground on the pre-market under profit-taking following yesterday's higher levels, with easier New York overnight and lower gold this morning the main influences. Three Months fell back to £819
      329 words
    • Article
      Lead
      33 8 LONDON, Thurs. Lead fell £4.25 for Cash and £3.25 for Three Months In the morning. Three Months recovered to £391 in the Ring before profit-taking pared the advance. Sales were 2,500 tonnes.
      33 words
    • Article
      Zinc
      39 8 LONDON, Thurs. Zinc eased £7.50 for Cash and £8.50 for Three Months in the morning. Three Months traded in the early pre-market at £395 but eased to £389 in the Ring. Sales of 1,100 tonnes were mainly carries.
      39 words
  • MONEY AND EXCHANGES
    • Article
      Singapore
      555 8 THE Singapore forex market saw active trading in the USS/yen counter yesterday, with the dollar gaining against the Japanese currency before < stabllsing In the afternoon. The dollar opened at 1 277.75 yen and closed at 277.70/ 278.10. The US dollar eased 1 against the Singapore dollar from the
      555 words
    • Article
      Asian $ rates
      173 8 Asian rates ASIAN currency deposit interbank rates as at close on April 28 US Dollar*(Spot) Offer Bid 7 days 1 mth 2 mths 3 mths 6 mths 9 mths 12 mths .51/1# 5 1/16 .5 1/8 .51/4 .59/16 513/16 .6 415/16 4 15/16 5 51/8 5 7/16 511/16 57/8 Sw.
      173 words
    • Article
      Discount
      49 8 RANGE or prices offered by discount houses on April 28 Overnight 3* Call deposit 3% Clull Buy Selli>« 3-month Treasury bills 3 2 7/8 3-Month Bank blUs 4 1/16 3 15/16 3-Month CD 4 3/8 4 1/4 6-Month CD 4 1/2 4 3/8 Source: National Discount Co Ltd.
      49 words
    • Article
      Euro $ rates
      145 8 Euro rates LONDON, Thurs. Period Eurodollar deposits up to Six. Months opened technically higher reflecting the loss of the Friday dealing date while shortdates were steady. Trading continued generally quiet, dealers said. Ualns In periods ranged from 1/4 In One Month to 1/16 In Six Months while Three Months was
      145 words
    • Article
      London
      280 8 LONDON. Thurs. The dollar continued its weaker trend against most ma lor currencies after news of the record US March trade deficit of $2.39 billion which was worse than expected, dealers said. The mark gained against the dollar reflecting expectations. German trade figures for March will show a larger
      280 words
    • Article
      New York
      244 8 NEW YORK, Wed. The dollar closed substantially weaker than yesterday against all major currencies except the Canadian dollar after active trading during the European day continued in the afternoon here, dealers said. The dollar came under pressure early in the session here following remarks by Bundesbank presidentdesignate Otmar
      244 words
    • Article
      Tokyo
      107 8 TOKYO, Thurs. The US dollar for overnight delivery closed lower In active trading at 277.50 yen after opening at 277.80 and compared with 278.20 at yesterday's close, dealers said. After Initially falling on news of the record US trade deficit in March, the US unit recovered to 278.05 In
      107 words
    • Article
      Hongkong
      118 8 HONGKONG, Thurs. The US dollar recovered some of Its overnight losses In Europe and the US on profit taking In fairly quiet trading, dealers said. It rose to 2.3600/10 marks from 2.3596 at the New York close, and to 2.5210/25 Swiss francs from 2.5145. Sterling closed at 1.7188/93 from
      118 words
    • Article
      Minimum lending rates (in %)
      65 8 Minimum lending rates (in acbc 0H fii, Algemene Bank 6*4 Citibank 6*4 Bangkok Bank 7 HSBC 7 Bank of America 6*4 Indosuez 6% Bank of China 7 Malayan Banking 6*. Bank of Tokyo 6*4 Mitsui Bank 6\ Bank Negara OCBC 6 J 4 Indonesia 7 OUB fi J Chartered Bank
      65 words
    • Article
      Australia/NZ
      48 8 AUSTRALIA/NZ exchanges quoted on April 28. Australia: Sterling 0.6453/0.6382 US dollar 1.1061/1.1013 Ninety-day air mall buying rates: Sterling 0.6647 US dollar 1.1311 Ninety-day forward buying rates: Sterling 0.6450 US dollar 1.0945 New Zealand: Sterling 0.5592/0.5561 US dollar 0.9665/0.9565 Ninety-day forward rate: Sterling 0.5806 US dollar 0 9845
      48 words
    • Article
      Zurich
      45 8 ZURICH exchanges closing quotes on April 27. US 2.5222-5232 UK 4.3375-3405 Can 2.4060-4080 W Germ 106.69-77 Neth 102.65-76 France 50.88-93 Belg 6.98-98 3/4 Denm 42.21-25 Norw 47.78-82 Swed 58.05-10 Italy 0.2843-2846 Austria 15.01-04 Port 6.52-54 Spain 3.66 1/2-67 1/4 Arg 0.70-85 Japan 0.90 1/2-91
      45 words
    • Article
      Frankfurt
      33 8 FRANKFURT exchanges opening quotes on April 28 US 2.3575/85 (2.3631/41) Can 2.2492/2512 UK 4.052/062 Neth 96.100/225 Switz 93.60/70 Italy 2.657/667 France 47.55/65 Norw 44.72/80 Belg Com 6.54/55 Belg Fin 6.51/53 Japan 0.8503/13
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    • Article
      Eurobond prices
      286 8 LONDON Eurobond prices quoted on April 28 Straight* Bid Offer Austria 8% 90 100* 101* Bell Canada 8*. 86 104 V. 103* BFCE 8% 83 102* Brazil 9* 84 97V. 98* Can Pacific 9* 83 103V. 104* Credit National 8'i86 99* 100 ECSC9 83 103% 104% EEC 8'.82
      286 words
  • Page 8 Advertisements
    • Advertisement
      Page 8 Advertisements Column 1
      491 8 THESE ARE THE BOOKS THAT HITLER BURNED 00 UMtM i 11l IHiil •i rn s Ja 'I :l "3 SI V a^ 3 s~== •■st 3 g. -3 =2,1 0 -i >i»] g 5S S 2r l -S a Si a S aa -i ea aa [e THE GREAT BOOKS
      491 words
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  • TRANSPORT AND COMMUNICATIONS
    • Article
      Lock icon Amtrak to step up rail travel in America
      713 9 Reuter WASHINGTON, Thurs. Rail passenger travel In the United States may soon be back on the right track after years of neglect, thanks to President Carter's energy programme. Amtrak, as the govern-' ment-backed national railroad passenger corporation Is known, believes more Americans
      Reuter  -  713 words
    • Article, Illustration
      Anro's hybrid vessel
      85 9 THIS is the first of three specialised ships built for the newly-formed Anro consortium. Launched at Kobe yesterday, the picture shows the hybrid roll on/roll off and lift on/lift off vessel just before completion. Built by Kawasaki Heavy Industries for Neptune Orient Lines (NOL), a member of
      85 words
    • Article
      Lock icon Low orders for German shipyards
      70 9 Reuter HAMBURG, Thurs. West Germany's ship-builders only have enough orders In hand to keep 70 per cent of their yard capacity active this year and 25 per cent next year, the German shipbuilding Industry association said. Since orders take 1-V» to two years to fulfill.
      Reuter  -  70 words
    • Article
      Lock icon Harland Wolff to build Shell gas carriers
      206 9 LONDON, Thursday Reuter BRITISH Secretary of State for Northern Ireland Roy Mason told Parliament that Belfast shipbuilders Harland and Wolff Ltd will build two liquefied petroleum gas carriers, together worth t'6o million (SS24O million) and £70 million (SS2BO million) for long-term charter to
      Reuter  -  206 words
    • Article
      Lock icon Contracts cancelled
      30 9 UPI TOKYO. Thurs. Japan's shipyards suffered from a high level of contract cancellations in fiscal year ended March 31 because of the global recession. Transport ministry officials said.
      UPI  -  30 words
    • Article, Illustration
      IN PORT
      454 9 EXPECTED ARRIVALS TODAY KEPPEL WHARVES Basca (1800 V 10/11 Bendoran (1400 after Asmara) (Must Head West for UTM/L and T/L) 33/34 Bunga Setawar (1830 after Bunga Mas) 18 Cherry Vilja (B. Barge) (2300 tbc) 48 Chusei Maru (JBUE) (Car Carrier) (0600 after Atreus) 35/36 Denpasar II (H3EQ) (1830
      454 words
    • Article, Illustration
      OIL takes delivery of first of four S'pore-built ships
      198 9 OIL (Asia) has taken delivery of the first of four specialised offshore shallow draft supply vessels built by Singapore Shipbuilding and Engineering (SSE). The vessel named 0.1.L. Supply 1 will be operated by Borneo Straits (Brunei), a member of the OIL
      198 words
    • Article
      Lock icon London freight market
      141 9 AP LONDON. Thurs. Dull chartering produced little new interest in either the voyage or time-charter sectors yesterday. North and South American grain, recently the staple of market business, generated only a handful of new fixtures, but did seem to point to continued rate steadiness when US$9.5O (FIO)
      AP  -  141 words
    • Article
      PSA shipping list
      35 9 SUBSCRIBERS of the Port Information Service will be required to collect the daily shipping state list from the information counter at the ground floor, PSA Towers. Jardine Steps, with effect from Monday.
      35 words
    • Article
      Dredging at Tuas Shipyard
      106 9 THERE will be dredging work at Tuas Shipyard from Sunday for a period of about 3 l i months. Dredging work will be carried out day and night at the proposed dry-dock site by the dredger Keihin Maru No. 125'. The spoil will be transported by
      106 words
    • Article
      GENTING TRIP OFFER BY CAR FIRM
      98 9 SOME car firms have offered free overseas trips and others have offered free gifts and rebates to stimulate sales. Asia Motor Company (Pte) Ltd., the local agent for Mazda of Japan, organised a two-day free trip last week to Genting Highlands for 32 people
      98 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      612 9 ARRIVALS Service Local From Operator Number Time CPA CX003 0145 HKG MAS MH682 0810 KCH SIA SQ211 1015 HLP GIA GA980 1030 HLP GIA GA908 1100 MES PAL PR501 1115 MNL SIA SQ240 1140 MES RBA BI325 1155 BWN SIA SQ201 1200 HLP KLM KL833 1240 AMS/FRA/KHI/
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    • Article
      Lock icon Damage claims case to go to Supreme Court
      256 9 AP NEW YORK. Thurs. A United States appeals court ruled yesterday that an international limitation of U5575,000 (S$180.000) per passenger in damage claims against airlines also applies to suits against airline employees. However, the case is expected to go on to the
      AP  -  256 words
    • Article
      Lock icon Carter 'yes' for airline price war
      111 9 Reuter WASHINGTON, Thurs. President Carter has told the Civil Aeronautics Board he supports price competition by domestic and foreign airlines on passenger fares and cargo, the board said. Mr. Carter said in a letter to CAB chairman John Robson price competition is a key
      Reuter  -  111 words
  • Page 9 Advertisements
    • Advertisement
      Page 9 Advertisements Column 1
      179 9 m/mipim mm WOLSEY HALL, the world renowned correspondence college offers you tuition in English at Elementary, '0' and 'A' levels through FEDERAL PUBLICATIONS HOME STUDIES DIVISION, SINGAPORE Also available are Wolsey Hall and Foulks Lynch courses in all subjects for the following examination bodies. WOLSEY HALL Cambridge GCE 'O' and
      179 words
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  • Article
    Lock icon Portugal 3 years after the revolution
    659 10  -  By NAT GIBSON UPI WHEN Portugal's revolution flowered three years ago, it produced an outburst of public optimism In the future and calls for major social changes. A lot has changed since April 25, 1974, but not all the changes have been good and
    UPI  -  659 words
  • Article, Illustration
    Sweden now hit by economic backlash
    1508 10  -  By VINCENT BUIST THE prosperous Swedes who three years ago looked like riding out the world recession have now been hit by an economic blacklash. Sweden's strategy was to Ignore shrinking world markets and go on producing for stock, thus maintaining full employment, and
    1,508 words
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    That Haw Par offer
    323 10  -  LETTER TO THE EDITOR R.A. YOKES, Investment Manager, Chartered Merchant Banker* Ltd, Singapore. I REFER to the article by your Mr. Quek Peck Lim on the front page of Tuesday's issue of your paper, and the only criticism I would make is in the last paragraph
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    Lock icon Argentina in the grip of a big scandal
    1085 10  -  By SIMON MULLER Reuter ARGENTINA Is In the grip of a sensational scandal involving high finance for leftwing guerillas which could ultimately embroil two former presidents and scores of businessmen and ex-government officials. The country's military rulers have pledged to get to
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    Lock icon THE OTHER 'PARIS' THAT FEW SEE...
    533 10  -  By JEREMY CLIFT Reuter UNDERNEATH this city there is another Paris that few see 2.100 kilometres of S6W6rS. Big enough to take a barge at their widest points, the sewers of Paris have become a tourist attraction to rival In their way the Eiffel
    Reuter  -  533 words
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      141 10 RE MC(P) 162/1/77 VOL.I N0.4 APRIL 1977 PRICE:S3.OO t I k' i i V: t $*t r 4 L 9 m a 0 r i ■MB COVER Telecommunications MANUFACTURING Singapore's long-term prospects TRADE Singapore: United States PROPERTY Middle-income housing LIFE AT THE TOP Kurt Lindblad FINANCE Insurance INVESTMENT Automobile assembly
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    Firm ups payout on higher earnings
    239 11 BOUSTEADCO Singapore yesterday reported a 31.3 per cent Jump in 1976 group pre-tax profit to $6.02 million. With good results, It has raised the total dividend by 2Vi points to 7 Viper cent, Including a final payout of five per cent. The profit increase
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    Lock icon MALAYSIAN RESERVES HIGHER
    101 11 Reuter KUALA LUMPUR. Thurs. Bank Negara Malaysia said its gold and foreign exchange reserves rose to M 56.19 billion on April 15 from $6.04 billion on March 31 and $6.15 billion on March 15. Its fortnightly balance sheets showed total assets rose to $6.91 billion ($6.79 and
    Reuter  -  101 words
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    COURSE BY NPB
    56 11 THE National Productivity Board, in conjunction with the Singapore Purchasing and Materials Management Association will be organising a course on ••Purchasing Materials Management" at NPB Town Training Centre, Newton Road. The course will run from May 31 to June 30. Fee is $100 each for NPA and
    56 words
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    Lock icon AN ASEAN-JAPAN FORUM TO STEP UP TIES
    458 11 UPI TOKYO, Thurs. Japan agreed today to intensify Its relations with Asean through a formal JapanAsean Forum. A joint communique Issued by Prime Minister Takeo Fukuda and Philippine President Marcos said the Japanese leader assured Mr. Marcos "that one of the pillars of
    UPI  -  458 words
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    Lock icon We are mutual trade partners says Argentina
    197 11 UPI TOKYO, Thurs. Argentina's Planning Minister Ramon Diazbessone today said Japan and Argentina are trade partners on a "give-and-take basis" and asked Prime Minister Ta keo Fukuda to further promote trade between the two countries. Mr. Diazbessone and Mr. Fukuda confereed for half
    UPI  -  197 words
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    Lock icon Prime rates down
    322 11 Reuter TOKYO, Thurs. Industrial Bank of Japan, Longterm Credit Bank of Japan and Nippon Fudosan Bank said they will lower their long-term prime rates by 0.8 per cent to 8.4 per cent, effective today. They also said they will lower the coupon rate of their five-year bank
    Reuter  -  322 words
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    Lock icon Production index up
    218 11 Reuter TOKYO. Thurs. Japan's March industrial production index rose 0.9 per cent to a preliminary 128.7 (base 1970). seasonally adjusted, after a decline of 1.9 per cent in February, the Trade and Industry Ministry said. The year-on-year rise in the unadjusted index was 5.2 per cent, down
    Reuter  -  218 words
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    Lock icon MARCH CPI RISES
    84 11 Reuter TOKYO, Thurs. Japan's Consumer Price Index rose an unadjusted 0.6 per cent in March following a 0.5 per cent gain in February, the Prime Minister's Office said. The Consumer Price Index for the urban Tokyo area at min-April rose 1.6 per cent to an unadjusted 118.5
    Reuter  -  84 words
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    Lock icon ARE CONSUMERS IN ASIA GETTING A RAW DEAL?
    1088 11 UPI BANGKOK. Thurs. The Prime Minister of Thailand says his American-brand soap won't lather, his British-brand toothpaste doesn't taste good and his Japanese-make car is falling apart after six months. A housewife in Kuala Lumpur says her Westernbrand foods don't have the
    UPI  -  1,088 words
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    Lock icon Japanese overseas borrowing will continue
    164 11 Reuter TOKYO. Thurs. Merrill Lynch Inter-national executive vice president Milan Kerno said he thinks Japanese borrowers will continue to tap the US and the Euro-markets, even if falling Japanese Interest rates make domestic borrowings competitive in cost. In an interview, Mr. Kerno said Japanese borrowers
    Reuter  -  164 words
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    Firm is forced to dispose of two ships
    163 11 LABUAN. Thurs. A drastic drop in the number of people using Straits Shipping's (SS) passenger service here, have forced the company to dispose of some of its ships, sources said today. It is understood that both the passenger cum cargo carriers, SS
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    Lock icon ESCAP CALL FOR FREE ACCESS TO THE SEA
    101 11 UPI BANGKOK, Thurs. Delegates to the United Nations Economic and Social Commission for Asia and the Pacific (Escap). nave passed a resolution calling for free access to the sea for all landlocked countries of the region, a spokesman said today. The spokesman
    UPI  -  101 words
  • Article, Illustration
    Lock icon Going.. .going.. .gone before they're built
    377 11 UPI TOKYO. Thurs. Condominium apartments being built in the Japanese capital are being sold these days almost Immediately after they hit the market. Thousands of buyers, desperately trying to get out of cramped rented apartments, are out to purchase their own "mansions," as flats
    UPI; UPI photo  -  377 words
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    Petrochem complex: Three more will do
    247 11 THE Japanese government will participate In the Sumitomo petrochemical project if two or three more Japanese petrochemical companies, aside from the existing six. want to invest in it. a Japanese government official said here yesterday. Commenting on a news report from Tokyo that six
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    Lock icon Zone bill over first hurdle
    216 11 UPI TOKYO, Thurs. Legislation expanding Japan's territorial waters from 5 km to 19 km and establishing a 320 km exclusive fishing zone around the country cleared a Lower House Parliamentary Committee last night. The bills, hurriedly drafted by the Government to better Japan's bargaining position
    UPI  -  216 words
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    Citicorp to lead in $49mil NZ loan
    192 11 CITICORP International will lead a syndication of banks to float a US$2O million (SS49 million) bond on behalf of New Zealand's national industrial development bank, the Development Finance Corporation of New Zealand. The New Zealand government has not borrowed substantially from international money
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    'Textiles not cheaper by yard'
    103 11 THE Metrication Board has warned consumers not to be deceived that textiles sold by the yard are cheaper than by the metre. It seems so only when one merchant prices in metric but is surrounded by fellow merchants who sell by the yard, according to
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    No more duty on two items
    82 11 THE Customs and Excise Department has announced that effective from today, two types of garment parts will be excluded from the 15 per cent import duty normally applied to such items. The first is plastic appliques which are normally stuck or sewn on to
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      183 11 APPOINTMENTS YAOHAN SINGAPORE PTE LTD invites applications for the position of ADMINISTRATIVE AND ACCOUNTING EXECUTIVE in its Corporate Planning Department The selected candidate will be responsible for co-ordinating both short-term and long term financial planning from a corporate standpoint, preparing budget forecasts, the development and supervision of financial planning for
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      245 11 A UNIVERSITY OF SINGAPORE DEPUTY BURSAR Applications are invited for appointment to the above post. Candidates should have an Accountancy degree or a professional accounting qualification registrable with the Singapore Society of Accountants, and have had at least five years' experience in financial management. Knowledge of institutional accounting would be
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      189 11 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. Singapore
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    GET YOUR FIGURES RIGHT, UMBC TOLD
    327 12 FEP International has taken strong objection to the comments made by a spokesman from United Malayan Banking Corporation on FEP's public announcement that it had retrieved itself from receivership entirely under its own steam. In a strongly worded statement sent to Business Times through
    327 words
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    Why Germans are always welcome
    387 12 GERMAN investors are always welcome In the Republic, as they have always been known to pass on their acquired skills and technology to Singaporeans. This was stated by Mr. S. Rajaratnam, Minister for Foreign Affairs last night, at an Istana dinner given in honour of
    387 words
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    Asien-Pazifik
    37 12 AsienPazifik IN yesterday's Business Times, it was incorrectly reported that Deutsche Bank is one of the five banks operating in Singapore that are whollyGerman or with German interests. Aslen-Pazifik Bank in fact is the fifth German bank.
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    Lock icon Bilateral ties with Asean states: Hanoi
    294 12 Reuter PARIS, Thurs. Vietnamese Prime Minister Pham Van Dong said today that his country would rather have individual bilateral relations with individual Asean nations than with the organisation. "Asean". he said, "is an amblgous organisation We don't understand what it's all about. •'So we
    Reuter  -  294 words
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    Rubber, latex get 2-month reprieve from FEFC rates
    624 12 KUALA LUMPUR. Thurs. The Far East Freight Conference has decided to exempt, for two months, rubber and latex shipments moving through Malaysian ports from the 12.5 per cent general freight Increase scheduled to come Into effect on July 1. This will make
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    CALL TO LICENSE SHIP AGENCY TRADE
    143 12 THE Applied Research Corporation, the government "think tank", has suggested in a study that the Government license the shipping agency business to prevent the entry of "fly by night" operators. It also suggests that greater control be exercised over the shipping agency business so
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    Lock icon $2.7 bil aid given to Indonesia
    116 12 AP JAKARTA. Thurs. Japanese aid to Indonesia through the Intergovernmental Group on Indonesia (IGGI) has reached US$l.l billion (552.7 billion) since 1967, Mr. Kaneo Ichlhara, director of the Japanese Overseas Cooperation Fund, said today. Mr. Ichlhara. who met with President Suharto yesterday, said, "I
    AP  -  116 words
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    Tin centre to be set up
    63 12 BANGKOK, Thurs. Indonesia, Malaysia and Thailand today signed a project document and agreement establishing a South-east Asian Tin Research and Development Centre, to be built in Ipoh. Mr. Phisut Suthat Na Ayutthaya, directorgeneral of the Thai Mineral Resources Department, signed on behalf of the
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    Credit Suisse's $3b standby poser
    687 12 ZURICH. Thurs. The offer of a standby credit of three billion Swiss franc to Credit Suisse in connection with losses of the bank's Chiasso branch poses the question as to the financial health of the Zurich big bank. In fact. Credit Suisse has said categorically
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    Lock icon $64 mil loan for Manila projects
    141 12 Reuter TOKYO. Thurs. The Philippines Government today signed an agreement with the Japanese Government's Overseas Economic Cooperation Fund here to borrow 7.18 billion yen (5563.7 million) to finance three economic development projects, the Japanese Fund announced. President Marcos, now visiting Japan, was among those
    Reuter  -  141 words
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    Lock icon 'Bank secrecy vital to Swiss reputation'
    326 12 UPI ZURICH, Thurs. The president of the Swiss National Bank said today some banks are damaging the nation's reputation by abusing Switzerland's system of banking secrecy. Mr. Fritz Leutwller told the national banks' annual meeting that the system should be modified to prevent these
    UPI  -  326 words
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    Texco faces 3 suits
    48 12 THREE suits were filed against Texco Garments Manufacturer Pte Ltd In the High Court yesterday. Texco was sued for $15,301.10 by Lim Teck Chye of Chen Chen Textiles Co, $27,170.65 by Lian Thong Heng. Trading Co and 526.063 40 by Thye Slang Textile Co.
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    Lock icon Seoul borrowers want better rates
    423 12 Reuter TOKYO, Thurs. South Korea is pressing for more favourable terms on Its borrowings abroad, hoping to take advantage of Intensifying competition among US and European banks to arrange Korean loans, US banking sources here said. Evidence of the competition Is provided by the terms
    Reuter  -  423 words
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    Qantas one-stop flight to London from June
    258 12 BRITISH Airways will face competition from Qantas in its one-stop flights, to London from June. Mr. R.W. Low, Qantas regional director (Southeast Asia), yesterday announced that Qantas will have four one-stop flights a week to London, with a stopover at Bahrain. Besides BA,
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    Lock icon AIRPORTS SHUT FOR 12 HOURS
    106 12 Reuter MELBOURNE, Thurs. Australia's major airports will be closed down for 12 hours tomorrow grounding all domestic and International commercial flights. The stoppage is due to a strike announced today by air traffic controllers to press demands for a 36 per cent-pay rise. The controllers
    Reuter  -  106 words
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    LONDON STOCKS
    799 12 LONDON. Thurs. The stock j market closed mixed after bej inc higher in light trading. dealers said. At 3.00 pm the I F inam-ial Times index was ud •1.6 Equities turned back after •inns of a reduction of about point in the minimum I l-nding rate did not
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      288 12 The SGV Group Placement Advisory Services for Clients US$5O,OOO-60,000 p.a. all in Our client is a well-known international financial institution with a broad base of investments within Southeast Asia and the Far East. The organisation is looking for a man with an extensive banking background at senior executive levels to
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      146 12 MITSUI TRUST Beacon of Progress :,^r <s V>. Now at Shenton Way The Only Japanese Trust Bank Office in Singapore. Chief RepresentAive: Saburo Itoh. ■/y :'M> f, J v 11-1 s■ -v-wSIS&i '*>' >-> > x X v'. .j. ,>? We are Japan's oldest trust bank and command a key
      146 words